Malibu City Council
November 13, 2023

apprenticeship program in that trade for a certificate of approval. The certificate must also fix the ratio of apprentices to journeymen that will be used in the performance of the contract. The ratio of apprentices to journeymen in such cases will not be less than one to five except:
(1) When employment in the area of coverage by the joint apprenticeship committee has exceeded an average of 15 percent in the 90 days before the request for certificate, or
(2) When the number of apprentices in training in the area exceeds a ratio of one to five, or
(3) When the trade can show that it is replacing at least 1/30 of its membership through apprenticeship training on an annual basis state-wide or locally, or
(4) When CONTRACTOR provides evidence that CONTRACTOR employs registered apprentices on all of his contracts on an annual average of not less than one apprentice to eight journeymen.
(5) CONTRACTOR is required to make contributions to funds established for the administration of apprenticeship programs if CONTRACTOR employs registered apprentices or journeymen in any apprenticeable trade on such contracts and if other contractors on the public works site are making such contributions.
(6) CONTRACTOR and any subcontractor must comply with Labor Code Sections 1777.5 and 1777.6 in the employment of apprentices. (7) Information relative to apprenticeship standards, wage schedules and other requirements may be obtained from the Director of Industrial Relations (DIR), ex-officio the Administrator of Apprenticeship, San Francisco, California, or from the Division of Apprenticeship Standards and its branch offices.

E. CONTRACTOR and its subcontractors must keep an accurate certified payroll records showing the name, occupation, and the actual per diem wages paid to each worker employed in connection with this Agreement. The record will be kept open at all reasonable hours to the inspection of the body awarding the contract and to the Division of Labor Law Enforcement. If requested by CITY, CONTRACTOR must provide copies of the records at its cost.

F. CONTRACTOR and its subcontractors must comply with Labor Code Sections 1725.5 and 1777.1, including the requirement that registration with the DIR be maintained through the term of the Project. The City may, from time to time, request evidence of current registration.

Public Works Agreement
J & H Engineering General Contractors, Inc.

6. LEGAL HOURS OF WORK: Eight (8) hours of labor shall constitute a legal day's work for all workmen employed in the execution of this contract, and CONTRACTOR and any subcontractor under it shall comply with and be governed by the laws of the State of California having to do with working hours set forth in Division 2, Part 7, Chapter 1, Article 3 of the Labor Code of the State of California as amended.

CONTRACTOR shall forfeit, as a penalty to CITY, twenty-five dollars ($25.00) for each laborer, workman or mechanic employed in the execution of the contract, by him or any subcontractor under it, upon any of the work hereinbefore mentioned, for each calendar day during which the laborer, worker or mechanic is required or permitted to labor more than eight (8) hours in violation of the Labor Code.

7. TRAVEL AND SUBSISTENCE PAY: CONTRACTOR agrees to pay travel and subsistence pay to each worker needed to execute the work required by this Agreement as such travel and subsistence payments are defined in the applicable collective bargaining agreements filed in accordance with Labor Code Section 1773.8.

8. CONTRACTOR'S LIABILITY: The City of Malibu and its officers, agents and employees ("Indemnitees") shall not be answerable or accountable in any manner for any loss or damage that may happen to the work or any part thereof, or for any of the materials or other things used or employed in performing the work; or for injury or damage to any person or persons, either workers or employees of CONTRACTOR, of its subcontractors or the public, or for damage to adjoining or other property from any cause whatsoever arising out of or in connection with the performance of the work.

CONTRACTOR shall be responsible for any damage or injury to any person or property resulting from defects or obstructions or from any cause whatsoever.

CONTRACTOR will indemnify Indemnities against and will hold and save Indemnitees harmless from any and all actions, claims, damages to persons or property, penalties, obligations or liabilities that may be asserted or claimed by any person, firm, entity, corporation, political subdivision, or other organization arising out of or in connection with the work, operation, or activities of CONTRACTOR, its agents, employees, subcontractors or invitees provided for herein, whether or not there is concurrent passive negligence on the part of CITY. In connection therewith:
a. CONTRACTOR will defend any action or actions filed in connection with any such claims, damages, penalties, obligations or liabilities and will pay all costs and expenses, including attorneys' fees, expert fees and costs incurred in connection therewith.
b. CONTRACTOR will promptly pay any judgment rendered against CONTRACTOR or Indemnitees covering such claims, damages, penalties, obligations and liabilities arising out of or in connection with such work, operations or activities of CONTRACTOR hereunder, and CONTRACTOR agrees to save and hold the Indemnitees harmless therefrom.

Public Works Agreement
J & H Engineering General Contractors, Inc.

c. In the event Indemnitees are made a party to any action or proceeding filed or prosecuted against CONTRACTOR for damages or other claims arising out of or in connection with the work, operation or activities hereunder, CONTRACTOR agrees to pay to Indemnitees and any all costs and expenses incurred by Indemnitees in such action or proceeding together with reasonable attorneys' fees.

CONTRACTOR'S obligations under this section apply regardless of whether or not such claim, charge, damage, demand, action, proceeding, loss, stop notice, cost, expense, judgment, civil fine or penalty, or liability was caused in part or contributed to by an Indemnitee. However, without affecting the rights of CITY under any provision of this agreement, Contractor shall not be required to indemnify and hold harmless CITY for liability attributable to the active negligence of CITY, provided such active negligence is determined by agreement between the parties or by the findings of a court of competent jurisdiction. In instances where CITY is shown to have been actively negligent and where CITY active negligence accounts for only a percentage of the liability involved, the obligation of Contractor will be for that entire portion or percentage of liability not attributable to the active negligence of City.

So much of the money due to CONTRACTOR under and by virtue of the contract as shall be considered necessary by CITY may be retained by CITY until disposition has been made of such actions or claims for damages as aforesaid.

It is expressly understood and agreed that the foregoing provisions are intended to be as broad and inclusive as is permitted by the law of the State of California. This indemnity provision shall survive the termination of the Agreement and is in addition to any other rights or remedies which Indemnitees may have under the law.

This indemnity is effective without reference to the existence or applicability of any insurance coverage which may have been required under this Agreement or any additional insured endorsements which may extend to Indemnitees.

CONTRACTOR, on behalf of itself and all parties claiming under or through it, hereby waives all rights of subrogation and contribution against the Indemnitees, while acting within the scope of their duties, from all claims, losses and liabilities arising out of or incident to activities or operations performed by or on behalf of the CONTRACTOR regardless of any prior, concurrent, or subsequent passive negligence by the Indemnitees.

9. THIRD PARTY CLAIMS. In accordance with Public Contracts Code Section 9201, CITY will promptly inform CONTRACTOR regarding third-party claims against CONTRACTOR, but in no event later than ten (10) business days after CITY receives such claims. Such notification will be in writing and forwarded in accordance with the "Notice" section of this Agreement. As more specifically detailed in the contract documents, CONTRACTOR agrees to indemnify and defend the City against any thirdparty claim.

Public Works Agreement
J & H Engineering General Contractors, Inc.

10. WORKERS COMPENSATION: In accordance with California Labor Code Sections 1860 and 3700, CONTRACTOR and each of its subcontractors will be required to secure the payment of compensation to its employees. In accordance with the provisions of California Labor Code Section 1861, CONTRACTOR, by signing this contract, certifies as follows: "I am aware of the provisions of Section 3700 of the Labor Code which require every employer to be insured against liability for worker's compensation or to undertake self-insurance in accordance with the provisions of that code, and I will comply with such provisions before commencing the performance of the work of this contract."

11. INSURANCE: With respect to performance of work under this contract, CONTRACTOR shall maintain and shall require all of its subcontractors to maintain insurance as required in the Standard Specifications.

12. ASSIGNMENT: This contract is not assignable nor the performance of either party's duties delegable without the prior written consent of the other party. Any attempted or purported assignment or delegation of any of the rights of obligations of either party without the prior written consent of the other shall be void and of no force and effect.

14. INDEPENDENT CONTRACTOR: CONTRACTOR is and shall at all times remain as to the CITY, a wholly independent contractor. Neither the CITY nor any of its agents shall have control of the conduct of CONTRACTOR or any of CONTRACTOR'S employees, except as herein set forth. CONTRACTOR shall not at any time or in any manner represent that it or any of its agents or employees are in any manner agents or employees of CITY.

15. TAXES: CONTRACTOR is responsible for paying all retail sales and use, transportation, export, import, special or other taxes and duties applicable to, and assessable against any work, materials, equipment, services, processes and operations incidental to or involved in this contract. CONTRACTOR is responsible for ascertaining and arranging to pay them. The prices established in the contract shall include compensation for any taxes CONTRACTOR is required to pay by laws and regulations in effect at the bid opening date.

16. LICENSES: CONTRACTOR represents and warrants to CITY that it has all licenses, permits, qualifications, insurance, and approvals of whatsoever nature which are legally required of CONTRACTOR to practice its profession. CONTRACTOR represents and warrants to CITY that CONTRACTOR shall, at its sole cost and expense, keep in effect or obtain at all times during the term of this Agreement any licenses, permits, insurance, and approvals which are legally required of CONTRACTOR to practice its profession.

CONTRACTOR shall maintain a City of Malibu business license, if required under CITY ordinance.

17. RECORDS: CONTRACTOR shall maintain accounts and records, including personnel, property, and financial records, adequate to identify and account for all costs pertaining

18. 19.

20. 21.

Public Works Agreement
J & H Engineering General Contractors, Inc.

to this Agreement and such other records as may be deemed necessary by CITY or any authorized representative, and will be retained for three years after the expiration of this Agreement. All such records shall be made available for inspection or audit by CITY at any time during regular business hours.

SEVERABILITY. If any portion of these contract documents are declared by a court of competent jurisdiction to be invalid or unenforceable, then such portion will be deemed modified to the extent necessary in the opinion of the court to render such portion enforceable and, as so modified, such portion and the balance of this Agreement will continue in full force and effect provided that it does not frustrate the mutual intent of the parties herein.

WHOLE AGREEMENT: This Agreement supersedes any and all other agreements either oral or written, between the parties and contains all of the covenants and agreements between the parties pertaining to the work of improvements described herein.

Each party to this contract acknowledges that no representations, inducements, promises or agreements, orally or otherwise, have been made by any party, or anyone acting on behalf of any party, which are not embodied herein, and that any other agreement, statements or promise not contained in this contract shall not be valid or binding. Any modifications of this contract will be effective only if signed by the party to be charged.

AUTHORITY: CONTRACTOR affirms that the signatures, titles, and seals set forth hereinafter in execution of this Agreement represent all individuals, firm members, partners, joint ventures, and/or corporate officers having a principal interest herein. Each party warrants that the individuals who have signed this Agreement have the legal power, right, and authority to make this Agreement and to bind each respective party. This Agreement may be modified by written amendment. CITY's City Manager may execute any such amendment on CITY's behalf.

NOTICES: All notices permitted or required under this Agreement shall be in writing, and shall be deemed made when delivered to the applicable party's representative as provided in this Agreement. Additionally, such notices may be given to the respective parties at the following addresses, or at such other addresses as the parties may provide in writing for this purpose.

Such notices shall be deemed made when personally delivered or when mailed forty-eight (48) hours after deposit in the U.S. mail, first-class postage prepaid, and addressed to the party at its applicable address. Courtesy copies of notices may be sent via electronic mail, provided that the original notice is deposited in the U.S. mail or personally delivered as specified in this Section.

CITY OF MALIBU
23825 Stuart Ranch Road
Malibu, CA 90265
Attn: Robert DuBoux, Public Works Director/City Engineer

CONTRACTOR
J & H Engineering General Contractors Inc.
4065 Mission Oak Blvd., Ste. B
Camarillo CA 93012
Attn: Amy McMullen
Public Works Agreement
J & H Engineering General Contractors, Inc.

22. DISPUTES. Disputes arising from this contract will be determined in accordance with the contract documents and Public Contracts Code Sections 10240-10240.13.

23. NON-DISCRIMINATION: No discrimination shall be made in the employment of persons in the work contemplated by this Agreement because of race, religion, color, medical condition, sex, sexual orientation, national origin, political affiliation or opinion, or pregnancy or pregnancy-related condition. A violation of this section exposes CONTRACTOR to the penalties provided for in Labor Code Section 1735.

24. NO THIRD PARTY BENEFICIARY. This Contract and every provision herein is for the exclusive benefit of the Contractor and the City and not for the benefit of any other party. There will be no incidental or other beneficiaries of any of the Contractor's or the City's obligations under this Contract.

25. TIME IS OF ESSENCE. Time is of the essence for each and every provision of the Contract Documents.

26. 27.

ACCEPTANCE OF FACSIMILE OR ELECTRONIC SIGNATURES. The Parties agree that this Contract, agreements ancillary to this Contract, and related documents to be entered into in connection with this Contract will be considered signed when the signature of a party is delivered by facsimile transmission or scanned and delivered via electronic mail. Such facsimile or electronic mail copies will be treated in all respects as having the same effect as an original signature.

GOVERNING LAW: This Agreement shall be governed by the laws of the State of California, and exclusive venue for any action involving this Contract will be in Los Angeles County.

Public Works Agreement
J & H Engineering General Contractors, Inc.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement with all the formalities required by law on the respective dates set forth opposite their signatures.

This Agreement is executed on this __ day of _____ , 2023, at Malibu, California, and effective as of ______ , 2023.

ATTEST:

KELSEY PETTIJOHN, City Clerk
(seal)
APPROVED AS TO FORM:

THIS DOCUMENT HAS BEEN REVIE\ VED

BY THE CITY ATTOR EY'S OFFICE
TREVOR RUSIN, Interim City Attorney
CITY OF MALIBU:

STEVE UHRING, Mayor
CONTRACTOR: J&H Engineering General
Contractors, I nc.

Amy McMullen, President Name, Title
();

CONTRACTOR'S
� A AJ.i2J@
State of California License No.
630708
CONTRACTOR'S Business Phone No.
805-987-8414
CONTRACTOR'S Emergency Phone No. at
which contractor can be reached at any time
805-732-2252 Amy McMullen
5 NOTICE INVITING BIDS
NOTICE IS HEREBY GIVEN that sealed bids for the City of Malibu, WESTWARD BEACH ROAD SHOULDER REPAIR SPECIFICATION NO. 2070, will be received by the City Clerk, at Malibu City Hall, 23825 Stuart Ranch Road, Malibu, California, 90265 at or before 3:30 p.m. on Thursday, October 5, 2023, at which time they will be publicly opened and read by the City Clerk (or designated representative).

SCOPE OF WORK
In general, the proposed improvements consist of asphalt road reconstruction repair of the eastbound shoulder of Westward Beach Road including sawcut, base and asphalt reconstruction, and all appurtenant work, included and shown in the Contract Documents and Specifications.

The bid shall be submitted and the work shall be performed by a Class “A” or “C-12” State of California licensed contractor in strict conformance with the project specifications for Project Specification No. 2070 now on file in the City’s Public Works Department.

An electronic copy of plans and specifications may be obtained by prospective bidders from the Public Works Department through [email protected].

All prospective bidders shall abide by the provisions of the Bid Terms and Conditions listed in the project’s specifications.

The City reserves the right to retain all bids for a period of 90 days after the bid opening date for examination and comparison and to delete any portion of the work from the Contract. The City reserves the right to determine and waive non-substantial irregularities in any bid, and to reject any or all bids. The bid shall be balanced so that each bid item is priced to carry its share of the cost of the work and also its share of the contractor’s overhead and profit. The City reserves the right to delete any bid item to the extent that the bid is qualified by specific limitation. An unbalanced bid shall be considered as grounds for rejecting the entire bid. The City shall award the bid to the lowest responsible bidder as the interest of the City may require.

In accordance with the provisions of Division 2, Part 7, Chapter 1 of the California Labor Code, the California Department of Industrial Relations has established the general prevailing rates of per diem wages for each craft, classification and type of work needed to execute contracts for public works and improvements. The per diem wages published at the date the contract is advertised for bids shall be applicable. Future effective wage rates which have been predetermined are on file with the Department of Industrial Relations, are referenced but not printed in said publication. The new wage rates shall become effective on the day following the expiration date and apply to this contract in the same manner as if they had been included or referenced in this contract. The website for California Department of Industrial Relations Prevailing Wage Unit is currently located at www.dir.ca.gov, prevailing wages are located on the website at http://www.dir.ca.gov/dlsr/pwd/index.htm.

EXHIBIT A
6 The wage rate for any classification not listed by the California Department of Industrial Relations, but which may be required to execute the proposed contract, shall be in accord with specified rates for similar or comparable classifications or for those performing similar or comparable duties, within the agency’s determinations.

At the time of submitting the bid the Bidder shall be registered with the California Department of Industrial Relations in accordance with the provisions of Section 1771.1 of the California Labor Code, as amended by Senate Bill 854. No public work contract may be awarded to a non-registered contractor or subcontractor.

Without exception, the bidder is required to state the name and address of each subcontractor who will perform work or labor or render service to the prime contractor and the portion of the work which each will do in their bid as required by Section 2-3, "Subcontracts", of the Standard Specifications and in conformance with Public Contract Code, Sections 4100 to 4113, inclusive.

The City will not consider awarding any contract based upon any bid submitted by any contractor nor consent to subletting any portions of the Contract to any subcontractor located in a foreign country during any period in which such foreign country is listed by the United States Trade Representative as discriminating against U.S. firms in conducting procurements for public works projects.

All bidders are hereby notified that any contract entered into pursuant to this advertisement, Business Enterprises must be afforded full opportunity to submit bids in response to this invitation and will not be discriminated against on the grounds of race, color or national origin consideration for an award.

The Contractor may substitute securities for retention monies pursuant to Public Contract Code Section 22300.

Date this 29th day of August, 2023

CITY OF MALIBU, CALIFORNIA
________________________________________
Rob DuBoux, Public Works Director/City Engineer
Published: Malibu Times on September 7, 2023 and September 14, 2023

CITY OF MALIBU

PUBLIC WORKS DEPARTMENT

CONSTRUCTION BID COVER PAGE FOR

WESTWARD BEACH ROAD SHOULDER REPAIR
Specification No. 2070 Including 4 Sheets of Plans
Bids to be Received on or before October 5, 2023 AT 3:30 P.M.

Completion Time: 25 Consecutive Working Days
Liquidated Damages:

A. Failure to complete work on time: $500.00 Per Calendar Day (Sec. 6-9.1) B. Failure to keep traffic lanes open: $500.00 Per Hour (Sec. 6-9.2) Number of Pages in Construction Bid: 16

CONTRACTOR
Name J & H Engineering General Contractors, Inc.

StreetAddress 4065 Mission Oaks Blvd., Suite B
City__Camarillo
Telephone 805-987-8414
Fax Number 805-987-5810
Email [email protected]
State CA Zip Code 93012
(O~tionaI)
The bid shall be balanced so that each bid item is priced to carry its share of the cost of the work and also its share of the contractor’s overhead and profit. The City reserves the right to delete any bid item to the extent that bid is qualified by specific limitation. An unbalanced bid shall be considered as grounds for rejecting the entire bid.
18 EXHBIIT B

INSTRUCTIONS FOR SIGNING BID, BONDS AND CONTRACT
Corporations
a) Give name of Corporation.
b) Signatures: President or Vice-president and Secretary or Assistant Secretary.
c) Affix corporate seal and notary's acknowledgment where noted or required. d) Others may sign for the corporation if the City has been furnished a certified copy of a resolution of the corporate board of directors authorizing them to do so.

Partnerships
a) Signatures: All members of partnership. One may sign if City has a copy of authorization
b) Affix notary's acknowledgment where noted or required.

Joint Ventures
a) Give the names of the joint venturers.
b) Signatures: All joint venturers. One may sign if City has a copy of authorization.
c) Affix notary's acknowledgment where noted or required.

Individuals
a) Signature: The individual.
b) Affix notary's acknowledgment where noted or required. c) Another may sign for the individual if the City has been furnished a notarized power-of-attorney authorizing the other person to sign.

Fictitious Names
Bonds
a) Show fictitious names.
b) Satisfy all pertinent requirements show above.
a) In addition to all pertinent requirements above, give signature of Attorney-infact and apply surety's seal and provide address and telephone number of said surety.

PLEASE ADHERE TO THE APPLICABLE SIGNING INSTRUCTIONS
19 CONTRACTOR'S BID STATEMENT
City of Malibu
Malibu, California 90265
Pursuant to the foregoing Notice Inviting Bids, the undersigned declares that he/she has carefully examined the location of the proposed work, that he/she has examined the Plans and Specifications and read the accompanying instructions to bidders, and hereby proposes to furnish all materials and to do all the work required to complete such work in accordance with such Plans and Specifications for the prices set forth in this Bid.

The undersigned has carefully checked all the figures in this Bid and understands that City will not be responsible for any error or omission on the part of the undersigned in preparing this bid nor will City release the undersigned on account of such error or omission.

The undersigned swears or affirms under penalty of perjury that the information rega.rding the Contractor's License is true and correct.

The undersigned further agrees that in case of default in executing the required Contract within the applicable ten (10) calendar days or thereafter failing to provide the necessary bonds, within ten (10) calendar days after the contract has been fully executed, the proceeds of check or bond accompanying the bid shall become the property of the City of Malibu.

Licensed in accordance with an act providing for the registration of Contractor's License No. 630708 Class A,B Expiration Date
Names of Co-Partners or Corporation Officers and Titles:

Amy McMullen, President
Sandra Janetta, Secretary
Signature of Bidder ( � A.,�
Signature of Bidder & (},� �"��
Oct. 31 , 2025
President
Title
Secretary
Title
Name of Contractor or Firm Date of Submittal D <Si:". 4 .:Zt> 1 3 J & H Engineering General Contractors, Inc. Telephone No. 805-987-8414 Address 4065 Mission Oaks Blvd., Suite B; Camarillo, CA 93012 Corporation
Doing Business as Individual/Partnership/Corporation
Federal Tax Identification Number ---------- 77-0293394 California
State of Incorporation
Ca Ii fo rn i a Department of Industrial Relations Identification Number _ 1_0_
0_00_0_4_
0_
1_1 ____ _

ALL SIGNATURES MUST BE NOTARIZED
(Attach or Affix Executed Acknowledgement Form,
and Corporate Seal if Applicable
20 ™J8800:0:��0§IOO���
CALIFORNIA ACKNOWLEDGMENT CIVIL CODE § 1189
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

State of California
county of __ V_ }
en_ _tu_ r_a ________ _
on October 4, 2023 before me, Michelle Gu yette Sotelo, Notary Public Date Here Insert Name and Title of the Officer
personally appeared Amy McMullen and Sandra Janetta
Name(s) of Signer(s)
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies). and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

Place Notary Seal and/or Stamp Above
I certify under PENAL TY OF PERJURY under the
laws of the State of California that the foregoing
paragraph is true and correct.

WITNESS my hand and official seal.

Signatuce N.i,4 \ \v � 1A£f \u �\LkJ
Signature� N ry Public

OPTIONAL
Completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document.

Description of Attached Document
Title or Type of Document: Contractor's Bid Statement
Document Date: October 4 2023 Number of Pages: __ 1 __ _ Signer(s) Other Than Named Above: _N_ o_ o_ t_h_e_r _s�ig_n_e_rs _______________ _ Capacity(ies) Claimed by Signer(s)
Signer's Name: Sandra Janetta
IXI Corporate Officer - Title(s): Secretary
□ Partner - □ Limited □ General
□ Individual □ Attorney in Fact
□ Trustee □ Guardian or Conservator
□ Other:

Signer is Representing: _________ _
©2019 National Notary Association
Signer's Name: AA'r'{ McMullen
lliil Corporate Officer - Title(s): President
□Partner - □ Limited □ General
□ Individual □ Attorney in Fact
□ Trustee □ Guardian or Conservator
□ Other:

Signer is Representing: _________ _
Item Payment
No. Reference
1 901-2
2 902-10
3 905-4
4 907-2
5 908-3
6 906-5
7 7-6

PROPOSED BID SCHEDULE OF WORK AND PRICES

FOR THE CONSTRUCTION OF

WESTWARD BEACH ROAD SHOULDER REPAIR
SPECIFICATION NO. 2070
Unit
Description Quantity Unit Price
Mobilization 1 LS --
Traffic Control 1 LS --
SWPPP 1 LS ---
Sawcut 1075 LF 2.50
Pavement Repair 3225 SF 15.00
Record of Construction Changes 1 LS --
Release on Contract 1 LS ---
TOTAL
Total
8,000.00
3,000.00
1,500.00
2,687.50
48,375.00
800.00
$1.00
$64,363.50
The contractor shall be responsible for calculating and providing totals for the schedule.

The bid schedule shall include all costs for service, labor and materials, transportation, supervision, equipment and installation associated with the work complete and in place per these specifications.

TOTAL AMOUNT OF BID IN WORDS: Sixty four t�ousand three hundred sixty three & 50/100** Contractor Submitting Bid: J & H Engineering General Contractors, Inc.

By: Sandra Janotta, Secretary
Date:

By: 0)µ1d.J2
Date: (:)e,1, ½:, � ";0
21 . -· -· ···--··· ·······• .. . ....... - .. ·-------······--··---· ··-- ·-------------- The following addenda are acknowledged:
(Bidder must fill in number and date of each
addendum or may enter the word "None" if
appropriate.)
Number Date
NoNFI make this Proposal and certify under penalty of perjury that all the statements in this bid that I have signed are true and correct.

J & H Engineering
Contractor's Name General Contractors, Inc.

Title Amy McMullen, President
J & H Engineering
Contractor's Name General Contractors, Inc.

Title Sandra Janotta, Secretary
22 BIDDER'S BOND TO ACCOMPANY BID
(in lieu of cash, certified or cashier's check)
KNOW ALL PERSONS BY THESE PRESENTS:

That we, J&H ENGINEERING GENERAL CONTRACTORS, INC.
, as Principal, and _____ _
GREAT AMERICAN INSURANCE COMPANY ' as Surety, acknowledge ourselves jointly and severally bound to the City of Malibu, the obligee, for ten (10) percent of the total bid, to be paid to said City if the Bid shall be accepted and the Principal shall fail to execute the Contract tendered by the City within the applicable time specified in the Bid Terms and Conditions, or fails to furnish either the required Faithful Performance or Labor and Material Bonds, or fails to furnish evidence of insurance as required in the Standard • Specifications, then this obligation shall become due and payable, and Surety shall pay to obligee, in case suit is brought upon this bond in addition to the bond amount hereof, court costs and a reasonable attorney's fee to be fixed by the court. If the Principal executes the contract and furnishes the required bonds and evidence of insurance as provided in the bid documents, this bond shall be extinguished and released. It is hereby agreed that bid errors shall not constitute a defense to forfeiture.

WITNESS our hands this 26TH day of SEPTEMBER , 2023.
23 J&H ENGINEERING GENERAL CONTRACTORS, INC.

Contractor
By Ow,
. Title Amy
7 McMullen,
A ..d?�
President
Title Sandra Janot ta, Secretary

GREAT AMERICAN I
Surety

FORM TO ACCOMPANY BID BOND

STATE OF CALIFORNIA )

COUNTY OF )

CITY OF )
ss.

On this __ day of _______ , 2023, before me, the undersigned, a Notary Public in and for said County and State, residing therein, duly commissioned and sworn, personally appeared ___________ proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to this instrument; and know to be the ------------------------
subscribed to the within instrument as the of said
And the said _____________ duly acknowledge to me that he/she subscribed the name of thereto as Surety and his/her
own name as ------------
I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Notary Public in and for said
County and State aforesaid.

If certified or cashier's check is submitted herewith, state check number ____ _ and Amount$ ________ _
24 GREAT AMERICAN INSURANCE COMPANY®
Administrative Office: 301 E 4TH STREET • CINCINNATI, OHIO 45202 • 513-369-5000 • FAX 513-723-2740 The number of persons authorized by
this power of attorney is not more than FOUR

POWER OF ATTORNEY
No. 0 20974
KNOW ALL MEN BY THESE PRESENTS: That the GREAT AMERICAN INSURANCE COMPANY, a corporation organized and existing under and by virtue of the laws of the State of Ohio, does hereby nominate, constitute and appoint the person or persons named below, each individually if more d1an one is named, its true and lawful attorney-in-fact, for it and in its name, place and stead to execute on behalf of the said Company, as surety, any and all bonds, undertakings and contracts of suretyship, or other written obligations in the nature thereof; provided that the liability of the said Company on any such bond, undertaking or contract of suretyship executed under this authority shall not exceed the limit stated below.

PHILIP E. VEGA

KEVIN VEGA

BRITTON CHRISTIANSEN
MYRNA F. SMITH
Name Address
ALL OF

COVINA, CALIFORNIA
Limit of Power
ALL
$100,000,000
This Power of Attorney revokes all previous powers issued on behalf of the attorney(s)-in-fact named above.

IN WITNESS WHEREOF the GREAT AMERICAN INSURANCE COMPANY has caused these presents to be signed and attested by its appropriate officers and its corporate seal hereunto affixed this 9TH day of FEBRUARY , 2021 A
�< 4-'- C. ]>_
GREAT
A
MERIC7J/J7�
Assistant Secreta,y Divisional Senior Vice President
STATE OF OHIO, COUNTY OF HAMILTON - ss: MARK VICARIO 1877·377-2405) On this 9TH day of FEBRUARY , 2021 , before me personally appeared MARK VICARIO, to me known, being duly sworn, deposes and says that he resides in Cincinnati, Ohio, that he is a Divisional Senior Vice President of the Bond Division of Great American Insurance Company, the Company described in and which executed the above instrument; that he knows the seal of the said Company; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by authority of his office under the By-Laws of said Company, and that he signed his name thereto by like authority.

SUSAN A KOHORST
Notary Public
State of Ohio
M'/ Comm. Exp!r�
May 18, 2025
This Power of Attorney is granted by authority of the following resolutions adopted by the Board of Directors of Great American Insurance Company by unanimous written consent dated June 9, 2008.

RESOLVED: That the Divisional President, the several Divisional Senior Vice Presidents, Divisional Vice Presidents and Divisonal Assistant Vice Presidents, or any one of them, be and hereby is authorized,ji-om time to time, to appoint one or more Attorneys-in-Fact to execute on behalf of the Company, as surety, any and all bonds, undertakings and contracts of suretyship, or other wrillen obligations in the nature thereof; to prescribe their respective duties and the respective limits of their authority; and to revoke any such appointment at any time.

RESOLVED FURTHER: That the Company seal and the signature of any of the aforesaid officers and any Secretary or Assis/ant Secretary of the Company may be affixed by facsimile to any power of a//orney or certificate of either given/or the execution of any bond, undertaking, contract of suretyship, or other written obligation in the nature thereof. such signature and seal when so used being hereby adopted by the Company as the original signature of such officer and the original seal of the Company, to be valid and binding upon the Company with the same force and effect as though manually affixed

CERTIFICATION
I, STEPHEN C. BERAHA, Assistant Secretary of Great American Insurance Company, do hereby certify that the foregoing Power of Attorney and the Resolutions of the Board of Directors of June 9, 2008 have not been revoked and are now in full force and effect.

Signed and sealed this 26th day of September , 2023
4-'-
Assistant Secretary
C. �---
S1029AH (03/20)
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE§ 1189
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

State of California
County of LOS ANGELES
On 09/26/2023 before me, PHILIP VEGA, NOTAR Y PUBLIC
Date Here Insert Name and Title of the Officer
personally appeared _K_E_V_IN_VE_G_A__,A_T__T_O_R_N_EY__- in_-_F_AC_T _________________ _ Name(s) of Signer(s)
who proved to me on the basis of satisfactory evidence to be the person1sl_ whose name'(sj is/� subscribed to the within instrument and acknowledged to me that he/•/fh81/ executed the same in his/hm/thsir authorized capacity(tes). and that by his/her-!Ttreil: signature� on the instrument the person(st or the entity upon behalf of which the personN acted, executed the instrument. coee•
PHILIP VEGA 7
Notary Public • California �
Los Angeles County ll:

Commission# 2327592 -
y Comm. Expires May 31, 2024
Place Notary Seal Above
I certify under PENAL TY OF PERJUR Y under the laws
of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.
----------------OPTIONAL----------------
Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document.

Description of Attached Document
Title or Type of Document: _____________ Document Date: _______ _ Number of Pages: ___ Signer(s) Other Than Named Above: ____________ _ Capacity(ies} Claimed by Signer(s}
Signer's Name: ____________ _
□ Corporate Officer - Title(s): ______ _
□ Partner - □ Limited □ General
□ Individual □ Attorney in Fact
□ Trustee □ Guardian or Conservator
□ Other: ______________ _ Signer Is Representing: _________ _ Signer's Name: ____________ _
□ Corporate Officer - Title(s): ______ _
□ Partner - □ Limited □ General
□ Individual □ Attorney in Fact
□ Trustee □ Guardian or Conservator
□ Other: ______________ _
Signer Is Representing: _________ _
©2014 National Notary Association· www.NationalNotary.org • 1-800-US NOTARY (1-800-876-6827) Item #5907

STATEMENT OF BIDDER'S QUALIFICATIONS AND REFERENCES
The Bidder is required to state the bidder's financial ability and a general description of similar work performed. The City reserves the right to determine that any Bidder is not non-responsible if it finds the information provided herein is inaccurate, misleading or false, or upon evidence of collusion or other illegal practices on the part of a Bidder.

Failure by Bidder to complete this form completely and accurately and submit it with its bid may result in rejection of the bid as non-responsive.

Required Qualifications: Bidders must hold a valid State of California Contractor's License "A" or "C-12" at the time the bid is submitted to the City.

The bidder must have a minimum of seven (7) years of experience performing road repairs Do you have a minimum of seven (7) years of experience performing road repairs? Yes X No
To demonstrate the required experience, bidders shall provide evidence of the following:

Contractors must show that they completed fwe (5) projects within the last seven (7) years that include a minim�m of 1,000 SF of road repair work including sawcut, base material, and asphalt concrete repair. The required information· shall be attached to the Statement of Bidder's Qualifications and References: Failure to provide the required information may be grounds for the City to deem the bid non-responsive.

Number of years engaged in providing the work included within the scope of the specifications under the present business name: -------------- 32 years List and describe fully the last three recent contracts performed by your current firm which demonstrate your ability to complete the work included with the scope of the specifications. Attach additional pages if required. The City reserves the right to contact each of the references listed for additional information regarding your firm's qualifications.

Customer Name
Contact Individual
Contract Amount
Reference No. 1
City of Fillmore
Roxanne Hughes
$1,219,624.00
Address 250 Central Ave.; Fillmore, CA 93015
Phone No. 805-890-8885
Year ---------
2023
Description of work done Neighborhood Street Rehabilitation & ADA Improvements at Two Rivers Park
25 Customer Name
Contact Individual
Reference No. 2
The Port of Hueneme
Rodrigo Zaragoza
Contract Amount --'---'--------- $204,866.00
Address 333 Ponoma St.; Port Hueneme, CA 93044
Phone No. 805-488-3677
Year 2023
Description of work done Ring Road Pavement Repair, Phase 1 Customer Name
Reference No. 3
County of Ventura
Contact Individual -------- Joshua Patricio ---
Contra ct Amount --'-------':..__--'-'---c:....::..._ $2,436,728.00 _____ _ Address 800 S. Victoria Ave.; Ventura, CA 93009
Phone No. 805-654-2054
Year 2023
Description of work done Pavement Resurfacing - Creek Road Area 26 STATEMENT OF BIDDER'S QUALIFICATIONS AND REFERENCES
(Cont'd)

STATE OF CALIFORNIA, COUNTYOF V
entur --------------- a
1 am the President/ Secretary
--------------------of J & H Engineering General
Contractors, Inc. , the bidder herein. I have read the foregoing statement and know the contents thereof; and I certify that the same is true to my knowledge, except as to those matters which are therein stated upon my information or belief, and as to those matters I believe it to be true.

Executed on --.... � )"-"-C'...,X:�........ , ..... Y: d ......... 0.... ;2 .... ;5...___ at ___ __,_C,..,.a...,.m,..,.a,.,_,ril ...... la'------'' California. (Date) (Place)
I declare, under penalty of perjury, that the foregoing is true and correct.

Signatureof Bidder
Amy McMullen, President
Title
Signature of Bidder
Sandra Janotta, Secretary
Title
27 STATEMENT OF BIDDER'S PAST CONTRACT DISQUALIFICATIONS Pursuant to Section 10162 of the Public Contract Code the bidder shall state whether such bidder, any officer or employee of such bidder who has a proprietary interest in such bidder has ever been disqualified, removed, or otherwise prevented from bidding on, or completing a Federal, State, or local government project because of a violation of law or a safety regulation; and if so, explain the circumstances.

1. Do you have any disqualification, removal, etc., as described in the above paragraph to declare?
Yes ___ No_X __

2. If Yes, explain the circumstances.

Executed on (;) C')C, \.\ 1 2D :2 3 at _C_a_m_ a_ril_lo ___ , California.

I declare, under penalty of perjury, that the foregoing is true and correct. �� �� �f\�
ignatu (s) of Authorized Bidder Signature(s) of Authorized Bidder Amy McMullen, President Sandra Janetta, Secretary
Title Title
28 QUESTIONNAIRE REGARDING SUBCONTRACTORS
Bidder shall answer the following questions and submit with the bid.

1. Were bid depository or registry services used in obtaining subcontractor bid figures in order to compute your bid?
Yes ( ) No (X)

2. If the answer to No. 1 is "yes", please forward a copy of the rules of each bid depository you used with this questionnaire.

3. Did you have any source of subcontractors' bids other than bid depositories? Yes (X) No ( )

4. Has any person or group threatened you with subcontractor boycotts, union boycotts or other sanctions to attempt to convince you to use the services or abide by the rules of one or more bid depositories?
Yes ( ) No (X)

5. If the answer to No. 4 is "yes", please explain the following details:
a) Date:
b) Name of person or group:
c) Job involved (if applicable):
d) Nature of threats:
e) Additional comments: (Attach additional pages as necessary) We declare under penalty of perjury that the foregoing is true and correct.

Dated thl·s 1 .::3 ' '� day of D c,,y O \?;,b'\?, , 2023.

J & H Egineering General Contractors, Inc.

Name of Company
B
Amy
y�
McMullen,
Title
President
A�
By
Sandra Janotta, Secretary
Title
29 BIDDER'S STATEMENT OF SUBCONTRACTORS AND MATERIAL FABRlCATORS Without exception, the bidder is required to state the name and address of each subcontractor and the portion of the work which each will do as required by Subsection 1-6.3 of the SSPWC and in conformance with Public Contracts Code, Sections 4100 to 4113, inclusive.

Without limiting the generality of the foregoing, any contractor making a bid or offer to perform the work, shall set forth in the Bid:
(a) The name and the location of the place of business of each subcontractor who will perform work or labor or render service to the prime contractor in or about the construction of the work or improvement, or a subcontractor licensed by the State of California who, under subcontract to the prime contractor, specially fabricates and installs a portion of the work or improvement according to detailed drawings contained in the plans and specifications, in an amount in excess of one-half of one percent of the prime contractor's total bid; and
(b) The portion of the work which will be done by each subcontractor. The prime contractor shall list only one subcontractor for each portion. (c) Agrees that the list • of subcontractors submitted herewith cannot be changed, modified, or substituted without written request and approval of the awarding body.

The undersigned submits herewith a list of subcontractors in conformance with the foregoing:

Name Under Which
Subcontractor is
Licensed
License No. & Class Business Address Specific Description of Subcontract and Portion of
the Work to be Done
A� b-�·.2.0;13�t:,(},�/\h� .. \o·Y- ;1ID1.3
(s) of Bidder Date Signature(s) of Bidder Date
Amy McMullen, President Sandra Janetta, Secretary
Title Title
30 NON-COLLUSION AFFIDAVIT
(Title 23 United States Code Section 112 and
Public Contract Code Section 7106)

TO THE CITY OF MALIBU

PUBLIC WORKS DEPARTMENT
In accordance with Title 23 United States Code Section 112 and Public Contract Code 7106, the bidder declares that the bid is not made in the interest of, or on behalf of, any undisclosed person, partnership, company, association, organization, or corporation; that the bid is genuine and not collusive or sham; that the bidder has not directly or indirectly induced or solicited any other bidder to put in a false or sham bid, and has not directly or indirectly colluded, conspired, connived, or agreed with any bidder or anyone else to put in a sham bid, or that anyone shall refrain from bidding; that the bidder has not in any manner, directly or indirectly, sought by agreement, communication, or conference with anyone to fix the bid price of the bidder to any other bidder, or to fix any overhead, profit, or cost element of the bid price, or of that of any other bidder, or to secure any advantage against the public body awarding the contract of anyone interested in the proposed contract; that all statements contained in the bid are true; and, further, that the bidder has not, directly or indirectly, submitted his or her bid price or any breakdown thereof, or the contents thereof, or divulged information or data relative thereto, or paid, and will not pay, any fee to any corporation, partnership, company, association, organization, bid depository, or to any member or agent thereof to effectuate a collusive or sham bid.

J & H Engineering General Contractors, Inc.

Name of Bidder

0.wj A � Signat: of Bidder Amy McMullen, President
J & H Engineering General Contractors, Inc.

Name of Bidder
Signature of Bidder Sandra Janotta, Secretary
4065 Mission Oaks Blvd., Suite B; Camarillo, CA 93012
Bidder Address
31 EQUAL OPPORTUNITY CERTIFICATE

THE BIDDER'S EXECUTION OF THE SIGNATURE PORTION OF THIS PROPOSAL

SHALL ALSO CONSTITUTE AN ENDORSEMENT AND EXECUTION OF THOSE CERTIFICATES WHICH ARE A PART OF THIS BID.

The bidder hereby certifies that the bidder and proposed subcontractor(s), if any, have or have not participated in a previous contract or subcontract subject to the equal opportunity clauses, as required by Executive Orders 10925, 11114, or 11246, and that, where required, he has filed with the Joint Reporting Committee, the Director of the Office of Federal Contract Compliance, a Federal Government contracting or administering agency, or the former President's Committee on Equal Employment Opportunity, all reports due under the applicable filling requirements.

J & H Engineering General Contractors, Inc.

Name of Bidding Company
Authorized Signature
Sandra Janotta, Secretary
Title (Typed)
Date
32 DEBARMENT AND SUSPENSION CERTIFICATION TITLE 49, CODE OF FEDERAL REGULATIONS PART 29
The bidder under penalty of perjury, certifies that except as noted below, the bidder or any person associated therewith in the capacity of owner, partner, director, officer, or manager:
is not currently under suspension, debarment, voluntary exclusion, or determination of ineligibility by any federal agency;
has not been suspended, debarred, voluntarily excluded, or determined ineligible by any federal agency within the past three (3) years; does not have a proposed debarment pending; and
has not been indicted, convicted, or had a civil judgment rendered against it by a court of competent jurisdiction in any matter involving fraud or official misconduct within the past three (3) years.

If there are any exceptions to this certification, insert the exceptions in the following space.

Exceptions will not necessarily result in denial of award, but will be considered in determining bidder's responsibility. For any exception noted above, indicate below to whom it applies, initiating agency, and dates of action.

Notes: Providing false information may result in criminal prosecution or administrative sanctions. The above certification is part of the Proposal. Signing this Proposal on the signature portion thereof shall also constitute signature of this Certification.
33 10/17/2023
AssuredPartners of California Ins Services, LLC
196 S. Fir Street
PO Box 1388
Ventura CA 93002-1388
Brian Camarena
(805) 585-6145 (805) 585-6145
[email protected]
J & H Engineering General Contractors, Inc.
4065 Mission Oaks Blvd., Unit B
Camarillo CA 93012
Travelers Indemnity Co of CT 25682
Travelers Prop Cas Co of Amer 25674
23/24 GL/AU/UMB/WC
A Y DT22-CO-766X3615-TCT-23 07/13/2023 07/13/2024
1,000,000
300,000
5,000
1,000,000
2,000,000
2,000,000
A BA-2N586089-23-26-G 07/13/2023 07/13/2024
1,000,000
B
10,000
CUP-6J048469-23-26 07/13/2023 07/13/2024
4,000,000
4,000,000
B UB-9J608692-23-26-G 01/01/2023 01/01/2024
1,000,000
1,000,000
1,000,000
RE: Job #872; Project: Westward Beach Shoulder Repairs, Malibu, CA. GL: Certificate Holder is Additional Insured as respects to referenced project per form CGD2460419. Endorsements apply only as required by current written contract on file. **GL: EXCLUDES ALL WRAP/OCIP PROJECTS.

City of Malibu
23828 Stuart Ranch Road
Malibu CA 90265

SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE

THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.

INSURER(S) AFFORDING COVERAGE
INSURER F :

INSURER E :

INSURER D :

INSURER C :

INSURER B :

INSURER A :

NAIC #
NAME:

CONTACT
(A/C, No):

FAX
E-MAIL
ADDRESS:

PRODUCER
(A/C, No, Ext):

PHONE

INSURED
COVERAGES CERTIFICATE NUMBER: REVISION NUMBER:

IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed.

If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s).

THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS

CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.

OTHER:
(Per accident)
(Ea accident)
$
$
N / A
SUBR
WVD
ADDL
INSD

THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS

CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. $
$
$
$

PROPERTY DAMAGE
BODILY INJURY (Per accident)
BODILY INJURY (Per person)

COMBINED SINGLE LIMIT

AUTOS ONLY

AUTOS ONLY AUTOS

NON-OWNED

OWNED SCHEDULED

ANY AUTO

AUTOMOBILE LIABILITY
Y / N

WORKERS COMPENSATION

AND EMPLOYERS' LIABILITY
OFFICER/MEMBER EXCLUDED?
(Mandatory in NH)
DESCRIPTION OF OPERATIONS below
If yes, describe under

ANY PROPRIETOR/PARTNER/EXECUTIVE
$
$
$
E.L. DISEASE - POLICY LIMIT
E.L. DISEASE - EA EMPLOYEE
E.L. EACH ACCIDENT
ER
OTHSTATUTEPER
(MM/DD/YYYY) LIMITS

POLICY EXP
(MM/DD/YYYY)

POLICY EFF

LTR TYPE OF INSURANCE POLICY NUMBER
INSR
DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required)

EXCESS LIAB
UMBRELLA LIAB EACH OCCURRENCE $
AGGREGATE $
$
OCCUR

CLAIMS-MADE
DED RETENTION $
PRODUCTS - COMP/OP AGG $
GENERAL AGGREGATE $
PERSONAL & ADV INJURY $
MED EXP (Any one person) $
EACH OCCURRENCE $

DAMAGE TO RENTED
PREMISES (Ea occurrence) $

COMMERCIAL GENERAL LIABILITY

CLAIMS-MADE OCCUR
GEN'L AGGREGATE LIMIT APPLIES PER:

POLICY
PROJECT LOC

CERTIFICATE OF LIABILITY INSURANCE DATE (MM/DD/YYYY)

CANCELLATION

AUTHORIZED REPRESENTATIVE
ACORD 25 (2016/03)
© 1988-2015 ACORD CORPORATION. All rights reserved.

CERTIFICATE HOLDER
The ACORD name and logo are registered marks of ACORD
HIRED

AUTOS ONLY

COMMERCIAL GENERAL LIABILITY
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

BLANKET ADDITIONAL INSURED
(Includes Products-Completed Operations If Required By Contract) This endorsement modifies insurance provided under the following:

COMMERCIAL GENERAL LIABILITY COVERAGE PART
PROVISIONS (1) Any "bodily injury", "property damage" or The following is added to SECTION II – WHO IS AN "personal injury" arising out of the providing, or failure to provide, any professional INSURED:
architectural, engineering or surveying Any person or organization that you agree in a services, including: written contract or agreement to include as an additional insured on this Coverage Part is an (a) The preparing, approving, or failing to insured, but only: prepare or approve, maps, shop
a. With respect to liability for "bodily injury" or drawings, opinions, reports, surveys, "property damage" that occurs, or for "personal field orders or change orders, or the injury" caused by an offense that is committed, preparing, approving, or failing to subsequent to the signing of that contract or prepare or approve, drawings and agreement and while that part of the contract or specifications; and agreement is in effect; and (b) Supervisory, inspection, architectural or b. If, and only to the extent that, such injury or engineering activities. damage is caused by acts or omissions of you or your subcontractor in the performance of "your (2) Any "bodily injury" or "property damage" work" to which the written contract or agreement caused by "your work" and included in the applies. Such person or organization does not "products-completed operations hazard" qualify as an additional insured with respect to unless the written contract or agreement the independent acts or omissions of such specifically requires you to provide such person or organization. coverage for that additional insured during The insurance provided to such additional insured is
the policy period.
subject to the following provisions: c. The additional insured must comply with the a. If the Limits of Insurance of this Coverage Part following duties:
shown in the Declarations exceed the minimum (1) Give us written notice as soon as practicable limits required by the written contract or of an "occurrence" or an offense which may agreement, the insurance provided to the result in a claim. To the extent possible, such additional insured will be limited to such minimum required limits. For the purposes of notice should include:
determining whether this limitation applies, the (a) How, when and where the "occurrence" minimum limits required by the written contract or or offense took place; agreement will be considered to include the minimum limits of any Umbrella or Excess (b) The names and addresses of any injured liability coverage required for the additional persons and witnesses; and insured by that written contract or agreement. (c) The nature and location of any injury or This provision will not increase the limits of damage arising out of the "occurrence" insurance described in Section III – Limits Of or offense.

Insurance.
b. The insurance provided to such additional (2) If a claim is made or "suit" is brought against the additional insured: insured does not apply to:

CG D2 46 04 19 ú 2018 The Travelers Indemnity Company. All rights reserved. Page 1 of 2 Policy Number: DT22-CO-766X3615-TCT-23

COMMERCIAL GENERAL LIABILITY
(a) Immediately record the specifics of the (4) Tender the defense and indemnity of any claim or "suit" and the date received; and claim or "suit" to any provider of other insurance which would cover such additional (b) Notify us as soon as practicable and see insured for a loss we cover. However, this
to it that we receive written notice of the
condition does not affect whether the claim or "suit" as soon as practicable. insurance provided to such additional (3) Immediately send us copies of all legal insured is primary to other insurance
papers received in connection with the claim available to such additional insured which or "suit", cooperate with us in the covers that person or organization as a investigation or settlement of the claim or named insured as described in Paragraph 4., defense against the "suit", and otherwise Other Insurance, of Section IV – Commercial comply with all policy conditions. General Liability Conditions.

Description And Location(s) Of Operation(s):

Information required to complete this Schedule, if not shown above, will be shown in the Declarations.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

EXCLUSION – DESIGNATED OPERATIONS COVERED BY

A CONTROLLED (WRAP-UP) INSURANCE PROGRAM
This endorsement modifies insurance provided under the following: COMMERCIAL GENERAL LIABILITY COVERAGE PART

SCHEDULE
A. The following exclusion is added to Paragraph 2. Exclusions of Section I – Coverage A – Bodily Injury And Property Damage Liability:

This insurance does not apply to "bodily injury" or "property damage":

1. Arising out of your ongoing operations; or

2. Included in the "products-completed operations hazard"; at the location(s) described in the Schedule of this endorsement, but only if you are enrolled in a "controlled (wrap-up) insurance program" with respect to the "bodily injury" or "property damage" described in Paragraphs A.1. and A.2. above at such location(s).

This exclusion applies whether or not the "controlled (wrap-up) insurance program":
a. Provides coverage identical to that provided by this Coverage Part; b. Has limits adequate to cover all claims; or c. Remains in effect. B. The following definition is added to the Definitions section: "Controlled (wrap-up) insurance program" means a centralized insurance program under which one party has secured either insurance or self-insurance covering some or all of the contractors or subcontractors performing work on one or more specific project(s).

CG 21 54 12 19 © Insurance Services Office, Inc., 2018 Page 1 of 1 COMMERCIAL GENERAL LIABILITY POLICY NUMBER: DT22-CO-766X3615-TCT-23 ISSUE DATE:

Agenda Item # 3.B.7.

Council Agenda Report
To: Mayor Uhring and the Honorable Members of the City Council Prepared by: Brandie Ayala, Administrative Analyst
Reviewed by: Rob DuBoux, Public Works Director/City Engineer Approved by: Steve McClary, City Manager
Date prepared: October 18, 2023 Meeting date: November 13, 2023 Subject: Award Professional Services Agreement with Water Resources Economics, LLC
RECOMMENDED ACTION: Authorize the Mayor to execute a Professional Services Agreement with Water Resources Economics, LLC to prepare the 2024 Wastewater and Recycled Water Rates Update for the Civic Center Water Treatment Facility (CCWTF) – Phase One.

FISCAL IMPACT: No additional appropriation is required. The scope of work outlined in the agreement is for a not to exceed total of $42,079 and was included in the Adopted Budget for FY 2023-24 in Account No. 515-3010-5100 (Professional Services).

STRATEGIC PRIORITY: This item is part of the day-to-day operations identified in the Adopted FY 2023-24 Strategic Priority Project List.

DISCUSSION: The construction of Phase One of the CCWTF was completed in October 2018. All developed properties within the Phase One boundaries connected their private wastewater lines to the City’s wastewater collection system.

In accordance with the requirements of Proposition 218, the City adopted wastewater and recycled water service rates in July 2017. These calculated service rates ensure the sustainability and efficiency of the CCWTF, wastewater collection system, and the recycled water distribution system. The service rates also generate sufficient revenue to offset the operation, maintenance, and management costs associated with these facilities.

However, it’s important to note that the current service rates are set to expire on June 30, 2024.

City Council Meeting
11-13-23
Item

3.B.7.

Agenda Item # 3.B.7.

On August 18, 2023, staff released a Request for Qualifications/Proposals, inviting qualified consulting firms to submit proposals for the 2024 Wastewater and Recycled Water Service Rates Update. On September 21, 2023, the City received a total of three proposals. After a comprehensive evaluation of the proposals, staff concluded that Water Resources Economics, LLC was the most qualified consulting firm to perform this work.

Water Resources Economics has successfully performed these services to over 30 California cities, including coastal cities that are similar to the City.

Modification to the Wastewater and Recycled Water Service rates will require an extensive review of the operation, maintenance and management costs associated with the CCWTF, wastewater collection system, and recycled water distribution system. New service rates may incorporate reserve amounts to provide sufficient revenue to replace aging equipment and to provide contingencies. The proposed service rate changes will be subjected to the California Proposition 218 requirements, which require the public to review the proposed modifications and provide comments and or objections to the City. Staff will present the proposed service rates to the City Council at a later date.

Staff recommends the Council authorize the Mayor to execute a professional services agreement with Water Resources Economics, LLC for the 2024 Wastewater and Recycled Water Service Rates Update.

ATTACHMENTS:

1. Professional Services Agreement with Water Resources Economics

2. Request for Qualifications

AGREEMENT FOR PROFESSIONAL SERVICES
This Agreement is made and entered into as of November 13, 2023 by and between the City of Malibu (hereinafter referred to as the "City"), and Water Resources Economics, LLC (hereinafter referred to as "Consultant").

The City and the Consultant agree as follows:

R E C I T A L S
A. The City does not have the personnel able and/or available to perform the services required under this Agreement.

B. The City desires to contract out for consulting services for certain projects relating engineering services for the Civic Center Water Treatment Facility Phase One Wastewater and Recycled Water Rate Update.

C. The Consultant warrants to the City that it has the qualifications, experience and facilities to perform properly and timely the services under this Agreement.

D. The City desires to contract with the Consultant to perform the services as described in Exhibit A of this Agreement.

NOW, THEREFORE, the City and the Consultant agree as follows:

1.0 SCOPE OF THE CONSULTANT’S SERVICES. The Consultant agrees to provide the services and perform the tasks set forth in the Scope of Work, attached to and made part of this Agreement, except that, to the extent that any provision in Exhibit A conflicts with this Agreement, the provisions of this Agreement govern. The Scope of Work may be amended from time to time by way of a written directive from the City.

2.0 TERM OF AGREEMENT. This Agreement will become effective on November 13, 2023, and will remain in effect for a period of one year from said date unless otherwise expressly extended and agreed to by both parties or terminated by either party as provided herein.

3.0 CITY AGENT. The City Manager, or his or her designee, for the purposes of this Agreement, is the agent for the City; whenever approval or authorization is required, Consultant understands that the City Manager, or his or her designee, has the authority to provide that approval or authorization.

4.0 COMPENSATION FOR SERVICES. The City shall pay the Consultant for its professional services rendered and costs incurred pursuant to this Agreement in accordance with the Exhibit “A” Scope of Work and per Exhibit “B” compensation schedule. The cost of services shall not exceed $42,079. No additional compensation shall be paid for any other expenses incurred, unless first approved by the City Manager, or his or her designee.

Agreement for Professional Services
Water Resources Economics, LLC.

4.1 The Consultant shall submit to the City, by no later than the 10th day of each month, its bill for services itemizing the fees and costs incurred during the previous month.

The City shall pay the Consultant all uncontested amounts set forth in the Consultant's bill within 30 days after it is received.

5.0 CONFLICT OF INTEREST. The Consultant represents that it presently has no interest and shall not acquire any interest, direct or indirect, in any real property located in the City which may be affected by the services to be performed by the Consultant under this Agreement. The Consultant further represents that in performance of this Agreement, no person having any such interest shall be employed by it.

5.1 The Consultant represents that no City employee or official has a material financial interest in the Consultant’s business. During the term of this Agreement and/or as a result of being awarded this contract, the Consultant shall not offer, encourage or accept any financial interest in the Consultant’s business by any City employee or official.

5.2 If a portion of the Consultant’s services called for under this Agreement shall ultimately be paid for by reimbursement from and through an agreement with a developer of any land within the City or with a City franchisee, the Consultant warrants that it has not performed any work for such developer/franchisee within the last 12 months, and shall not negotiate, offer or accept any contract or request to perform services for that identified developer/franchisee during the term of this Agreement.

6.0 GENERAL TERMS AND CONDITIONS.

6.1 Termination. Either the City Manager or the Consultant may terminate this Agreement, without cause, by giving the other party ten (10) days written notice of such termination and the effective date thereof.

6.1.1 In the event of such termination, all finished or unfinished documents, reports, photographs, films, charts, data, studies, surveys, drawings, models, maps, or other documentation prepared by or in the possession of the Consultant under this Agreement shall be returned to the City. If the City terminates this Agreement without cause, the Consultant shall prepare and shall be entitled to receive compensation pursuant to a close-out bill for services rendered and fees incurred pursuant to this Agreement through the notice of termination.

If the Consultant terminates this Agreement without cause, the Consultant shall be paid only for those services completed in a manner satisfactory to the City.

6.1.2 If the Consultant or the City fail to fulfill in a timely and proper manner its obligations under this Agreement, or if the Consultant or the City violate any of the covenants, agreements, or stipulations of this Agreement, the Consultant or the City shall have the right to terminate this Agreement by giving written notice to the other party of such termination and specifying the effective date of such termination. The Consultant shall be entitled to receive compensation in accordance with the terms of this Agreement for any work satisfactorily completed hereunder. Notwithstanding the foregoing, the Consultants shall not be relieved of liability for damage sustained by virtue of any breach of this Agreement and any payments due under this Agreement may be withheld to off-set anticipated damages.

Agreement for Professional Services
Water Resources Economics, LLC.

6.2 Non-Assignability. The Consultant shall not assign or transfer any interest in this Agreement without the express prior written consent of the City.

6.3 Non-Discrimination. The Consultant shall not discriminate as to race, creed, gender, color, national origin, or sexual orientation in the performance of its services and duties pursuant to this Agreement, and will comply with all applicable laws, ordinances and codes of the Federal, State, County and City governments.

6.4 Insurance. The Consultant shall submit to the City certificates indicating compliance with the following minimum insurance requirements no less than one (1) day prior to beginning of performance under this Agreement. Consultant further agrees to comply with all provisions in the attached Exhibit C which is incorporated herein.

6.5 Indemnification.

To the fullest extent permitted by law, Consultant shall indemnify, defend, and hold harmless City and any and all of its officials, employees, agents, and volunteers (“Indemnified Parties”) from and against any and all claims, losses, liabilities, damages, costs, and expenses, including attorney’s fees and costs, to the extent they arise out of, pertain to or relate to the negligence, recklessness, or willful misconduct of the Consultant.

Consultant’s duty to defend shall consist of reimbursement of defense costs incurred by City in direct proportion to the Consultant’s proportionate percentage of fault.

Consultant’s percentage of fault, for both indemnity and defense, shall be determined, as applicable, by a court of law, jury, or arbitrator. In the event any loss, liability, or damage is incurred by way of settlement or resolution without a court, jury or arbitrator having made a determination of the Consultant’s percentage of fault, and the parties cannot mutually agree on Consultant’s percentage of fault, the parties agree to mediation with a neutral third-party to determine the Consultant’s proportionate percentage of fault for purposes of determining the amount of indemnity and defense cost reimbursement owed to the City.

6.5.1. Duty to defend: In the event the Indemnified Parties, individually or collectively, are made a party to any action, lawsuit, or other adversarial proceeding arising from the performance of the services encompassed by this Agreement, and upon demand by City, Consultant shall defend the Indemnified Parties at Consultant’s cost or at City’s option, to reimburse City for its costs of defense, including reasonable attorney’s fees and costs incurred in the defense of such matters to the extent the matters arise from, relate to or are caused by Consultant’s negligent acts, errors or omissions. Payment by City is not a condition precedent to enforcement of this provision. In the event of any dispute between Consultant and City, as to whether liability arises from the sole or active negligence or willful misconduct of the City or its officers, employees, or agents, Consultant will be obligated to pay for City’s defense until such time as a final judgment has been entered adjudicating the Indemnified Parties as solely or actively negligent or to have acted with willful misconduct. Consultant will not be entitled in the absence of such a determination to any reimbursement of defense costs including but not limited to attorney’s fees, expert fees, and costs of litigation.

Agreement for Professional Services
Water Resources Economics, LLC.

6.6 Compliance with Applicable Law. The Consultant and the City shall comply with all applicable laws, ordinances, and codes of the federal, state, county, and city governments, including, without limitation, Malibu Municipal Code Chapter 5.36 Minimum Wage.

6.7 Independent Contractor. This Agreement is by and between the City and the Consultant and is not intended, and shall not be construed, to create the relationship of agency, servant, employee, partnership, joint venture, or association, as between the City and the Consultant.

6.7.1. The Consultant shall be an independent contractor and shall have no power to incur any debt or obligation for or on behalf of the City. Neither the City nor any of its officers or employees shall have any control over the conduct of the Consultant, or any of the Consultant’s employees, except as herein set forth, and the Consultant expressly warrants not to, at any time or in any manner, represent that it, or any of its agents, servants or employees are in any manner employees of the City, it being distinctly understood that the Consultant is and shall at all times remain to the City a wholly independent contractor and the Consultant's obligations to the City are solely such as are prescribed by this Agreement.

6.8 Copyright. No reports, maps or other documents produced in whole or in part under this Agreement shall be the subject of an application for copyright by or on behalf of the Consultant.

6.9 Legal Construction.
(a) This Agreement is made and entered into in the State of California and shall in all respects be interpreted, enforced, and governed under the laws of the State of California.
(b) This Agreement shall be construed without regard to the identity of the persons who drafted its various provisions. Each and every provision of this Agreement shall be construed as though each of the parties participated equally in the drafting of same, and any rule of construction that a document is to be construed against the drafting party shall not be applicable to this Agreement.
(c) The article and section, captions and headings herein have been inserted for convenience only and shall not be considered or referred to in resolving questions of interpretation or construction.
(d) Whenever in this Agreement the context may so require, the masculine gender shall be deemed to refer to and include the feminine and neuter, and the singular shall refer to and include the plural.

6.10 Counterparts. This Agreement may be executed in counterparts and as so executed shall constitute an agreement which shall be binding upon all parties hereto.

Agreement for Professional Services
Water Resources Economics, LLC.

6.11 Final Payment Acceptance Constitutes Release. The acceptance by the Consultant of the final payment made under this Agreement shall operate as and be a release of the City from all claims and liabilities for compensation to the Consultant for anything done, furnished or relating to the Consultant’s work or services. Acceptance of payment shall be any negotiation of the City’s check or the failure to make a written extra compensation claim within ten (10) calendar days of the receipt of that check. However, approval or payment by the City shall not constitute, nor be deemed, a release of the responsibility and liability of the Consultant, its employees, sub-consultants and agents for the accuracy and competency of the information provided and/or work performed; nor shall such approval or payment be deemed to be an assumption of such responsibility or liability by the City for any defect or error in the work prepared by the Consultant, its employees, sub-consultants and agents.

6.12 Corrections. In addition to the above indemnification obligations, the Consultant shall correct, at its expense, all errors in the work which may be disclosed during the City’s review of the Consultant’s report or plans. Should the Consultant fail to make such correction in a reasonably timely manner, such correction shall be made by the City, and the cost thereof shall be charged to the Consultant.

6.13 Files. All files of the Consultant pertaining to the City shall be and remain the property of the City. The Consultant will control the physical location of such files during the term of this Agreement and shall be entitled to retain copies of such files upon termination of this Agreement.

6.14 Waiver; Remedies Cumulative. Failure by a party to insist upon the performance of any of the provisions of this Agreement by the other party, irrespective of the length of time for which such failure continues, shall not constitute a waiver of such party's right to demand compliance by such other party in the future. No waiver by a party of a default or breach of the other party shall be effective or binding upon such party unless made in writing by such party, and no such waiver shall be implied from any omissions by a party to take any action with respect to such default or breach. No express written waiver of a specified default or breach shall affect any other default or breach, or cover any other period of time, other than any default or breach and/or period of time specified. All of the remedies permitted or available to a party under this Agreement, or at law or in equity, shall be cumulative and alternative, and invocation of any such right or remedy shall not constitute a waiver or election of remedies with respect to any other permitted or available right of remedy.

6.15 Mitigation of Damages. In all such situations arising out of this Agreement, the parties shall attempt to avoid and minimize the damages resulting from the conduct of the other party.

6.16 Partial Invalidity. If any provision in this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions will nevertheless continue in full force without being impaired or invalidated in any way.

6.17 Attorneys' Fees. The parties hereto acknowledge and agree that each will bear his/her or its own costs, expenses and attorneys' fees arising out of and/or connected with the negotiation, drafting and execution of the Agreement, and all matters arising out of or Agreement for Professional Services
Water Resources Economics, LLC.

connected therewith except that, in the event any action is brought by any party hereto to enforce this Agreement, the prevailing party in such action shall be entitled to reasonable attorneys' fees and costs in addition to all other relief to which that party or those parties may be entitled.

6.18 Entire Agreement. This Agreement constitutes the whole agreement between the City and the Consultant, and neither party has made any representations to the other except as expressly contained herein. Neither party, in executing or performing this Agreement, is relying upon any statement or information not contained in this Agreement. Any changes or modifications to this Agreement must be made in writing appropriately executed by both the City and the Consultant.

6.19 Notices. Any notice required to be given hereunder shall be deemed to have been given by depositing said notice in the United States mail, postage prepaid, and addressed as follows:

CITY: Steve McClary CONSULTANT: Sanjay Gaur
City Manager Principal Consultant
City of Malibu Water Resources Economic, LLC
23825 Stuart Ranch Road 10830 Pickford Way
Malibu, CA 90265-4861 Culver City, CA 90230
TEL (310) 456-2489 x 226 TEL:213-327-4405
FAX (310) 456-2760

6.20 Warranty of Authorized Signatories and Acceptance of Facsimile or Electronic Signatures. Each of the signatories hereto warrants and represents that he or she is competent and authorized to enter into this Agreement on behalf of the party for whom he or she purports to sign. The Parties agree that this Contract, agreements ancillary to this Contract, and related documents to be entered into in connection with this Contract will be considered signed when the signature of a party is delivered physically or by facsimile transmission or scanned and delivered via electronic mail. Such facsimile or electronic mail copies will be treated in all respects as having the same effect as an original signature.

7.0 GENERAL TERMS AND CONDITIONS. (City and Consultant
initials required at EITHER 7.1 or 7.2)

7.1 Disclosure Required. By their respective initials next to this paragraph, City and Consultant hereby acknowledge that Consultant is a “consultant” for the purposes of the California Political Reform Act because Consultant’s duties would require him or her to make one or more of the governmental decisions set forth in Fair Political Practices Commission Regulation 18700.3(a) or otherwise serves in a staff capacity for which disclosure would otherwise be required were Consultant employed by the City. Consultant hereby acknowledges his or her assuming-office, annual, and leaving-office financial reporting obligations under the California Political Reform Act and the City’s Conflict of Interest Code and agrees to comply with those obligations at his or her expense. Prior to consultant commencing services hereunder, the City’s Manager shall prepare and deliver to consultant a memorandum detailing the extent of Consultant’s disclosure obligations in accordance with the City’s Conflict of Interest Code.

EXHIBIT A
Scope of Services
Based on our experience conducting the City’s prior two wastewater and recycled water rate studies as well as similar studies for other agencies, we have reorganized the tasks outlined in the draft scope of work in the RFQ/P. We believe that the tasks outlined below best describe WRE’s proposed study approach and will help ensure a successful rate study outcome. The table directly below demonstrates how Tasks 1-5 from the RFQ/P correspond to the tasks from WRE’s proposed scope of services.

Tasks from RFQ/P Corresponding Tasks from WRE’s Proposed Scope of Services Task 1: Project Coordination Task 1: Project Management and Initiation Task 2: Wastewater and Recycled Water Financial Plan Development Task 2: Draft Update Report
Task 2: Wastewater and Recycled Water Financial Plan Development Task 3: Wastewater and Recycled Water Rate Design
Task 4: Report Preparation
Task 3: Final Update Report
Task 2: Wastewater and Recycled Water Financial Plan Development Task 3: Wastewater and Recycled Water Rate Design
Task 4: Report Preparation
Task 4: Public Outreach Task 5: Public Outreach
Task 5: Proposition 218 Task 6: Proposition 218 Support TASK 1: PROJECT MANAGEMENT AND INITIATION
Project Kickoff
WRE will conduct a virtual kickoff meeting with City staff to review the financial, legal, and political landscape of adopting wastewater and recycled water rates. In advance of the kickoff meeting, WRE will provide a data request list to City staff describing data items needed to conduct the study. Topics to be discussed during the kickoff meeting include the scope of services, the City’s current rate structures, the projectschedule, project roles and responsibilities, the data request list, and any other concerns that City staff may have.

Project Management
WRE’s project management duties will include regular progress reports that WRE will send to City staff.

Each progress report will summarize work completed to date, work in progress, and identify any challenges that may need to be addressed. WRE will also provide updated project schedules to City staff when and if changes to the proposed schedule are necessitated. WRE’s other project management duties will include coordination and scheduling of all project meetings with staff and maintenance of all project files.

Sanjay Gaur, in the role of Project Manager, will be ultimately accountable for the successful execution of the scope of services. The WRE project team has extensive experience guiding the rate study process successfully from start to finish. Our project management approach stresses the importance of clearly defining project roles and responsibilities at or before the kickoff meeting. Additionally, we believe that establishing frequent and open communication between City staff and the WRE project team via phone and email is critical. To adhere to the project schedule, the WRE team will work to schedule meetings with City staff well in advance of the target meeting date and will follow up regularly with City staff regarding outstanding action items.

Meetings: One virtual kickoff meeting with City staff
Deliverables: Progress reports and update project schedules as requested, data request list in Microsoft Word, kickoff meeting presentation in Microsoft PowerPoint, kickoff meeting minutesin Microsoft Word TASK 2: WASTEWATER AND RECYCLED WATER FINANCIAL PLAN DEVELOPMENT At the outset of the financial plan analysis, WRE will conduct a detailed review of the City’s budgeted and projected wastewater and recycled water O&M and capital costs. WRE will review and ensure that costs are allocated appropriately to each enterprise fund. Current and anticipated changes to standards and regulations will be considered during the evaluation of current and projected costs.

A key goal of Task 2 is to evaluate and quantify the impact of Phase 2 expansion on wastewater and recycled water costs. To do so, WRE will create a multi-year financial plan model in Microsoft Excel to assess the financial health of the City’s wastewater and recycled water enterprises. We will evaluate the level of revenue adjustments required to ensure long-term fiscal sustainability. WRE will work with City staff to forecast expenses and revenue requirements over a five-year (or ten-year, if desired) planning horizon. Projecting revenue adjustments over a multi-year planning horizon illustrates future rate impacts and potential challenges to the enterprises’ financial health so the City can plan expenses, monitor reserve balances, and/or schedule capital projects to smooth rate impacts. We strive for smooth revenue adjustments and minimal rate impacts while achieving long- term revenue goals. For example, strategic timing of capital expenditures and the use of reserve funds can help mitigate rate fluctuations.

WRE understandsthe importance of developing a user-friendly, flexible Excel-based model that City staff can use for future financial planning. All our models include a financial plan dashboard as a standard feature with the following:
• Flexibility to change many assumptions such as CIP levels and the magnitude and timing of revenue adjustments
• Error flagging of problematic resultssuch asfailure to meet debt coverage, below target reserves, etc.
• Sensitivity analyses and various “what-if” scenario assessments, so that impacts can be viewed instantaneously with built-in screen graphics
The dashboard is an effective tool to visually assess how each assumption or scenario impacts the financial plan so that decisions regarding revenue adjustments, capital project financing, and reserve balances can be made quickly. WRE will hold up to two virtual meetings with City staff to review assumptions and finalize the proposed financial plan to be used to calculate rates. The ultimate goal of the financial plan task is to quantify the total annual wastewater and recycled water rate revenue requirements over a multi-year rate-setting period.

Meetings: Two virtual meetings with City staff to discuss preliminary financial plan results Deliverables: Meeting presentationsin Microsoft PowerPoint, financial plan model in Microsoft Excel TASK 3: WASTEWATER AND RECYCLED WATER RATE DESIGN
WRE will work with City staff to evaluate the existing wastewater and recycled water rate structures and identify any potential alternative rate structures for consideration. The City’s current wastewater rate structure consists of a simple uniform fixed charge per equivalent dwelling unit. The current recycled water rate structure consists of a two-tier volumetric rate structure for customers within the Assessment District and a uniform volumetric rate structure for customers outside of the Assessment District.

Operational changes resulting from Phase 2 expansion may inform whether rate structure modifications are warranted. WRE will also review and make recommendations on the City’s wastewater and recycled water billing and collection systems.

WRE will then develop an Excel-based rate model to calculate proposed wastewater and recycled water rates based on the rate revenue requirement determination in Task 2 and the current/alternative rate structure(s) selected for consideration. Proposed rates will be calculated for up to a five-year period.

The rate model will include sample customer bill comparisons to evaluate the impact of the proposed rate changes on various customers. Preliminary rates will be reviewed with City staff during up to two virtual meetings. Final proposed rates will incorporate feedback received during public workshops, City Council meetings, and Commission meetings (included in Task 5).

WRE will also develop a draft and final rate model user manual and conduct one virtual model training session with City staff. This will ensure that City staff is well-equipped to update and utilize the rate model for ongoing financial planning purposes.

Meetings: Two virtual meetings with City staff to review preliminary rates, one virtual rate model training session with City staff
Deliverables: Meeting presentations in Microsoft PowerPoint, rate model in Microsoft Excel, draft and final rate model user manual in Microsoft Word
TASK 4: REPORT PREPARATION
WRE will draft a detailed rate study report that presents the proposed wastewater and recycled water rate development process. The report will highlight the major issues and decisions reached during the rate development process. It will provide detailed explanations of the financial plan projections, any proposed rate structure changes, and proposed rate calculations. The report will serve as the City’s administrative record to meet Proposition 218 requirements. City staff and legal counsel will review and provide input on the draft report, which WRE will incorporate into a final report version. Draft report feedback received during public workshops, City Council meetings, and Commission meetings (included in Task 5) will also be incorporated in the final report version. If necessary, WRE will schedule up to one virtual meeting with City staff and legal counsel to discuss comments and feedback on the draft report.

Meetings: Up to one virtual meeting with City staff to discuss draft report comments(if necessary) Deliverables: Draft and final report versions in Microsoft Word and/or PDF format TASK 5: PUBLIC OUTREACH
WRE will attend and present preliminary and final rate study results at three in-person City Council meetings, Commission meetings, and/or public information sessions (to be determined by City staff).

WRE will develop a PowerPoint presentation and other meeting materials such as handouts for use at the meetings. City staff will have an opportunity to review all meeting materials in advance. A key goal of the meetings is to inform elected officials and the public of the underlying reasons for any proposed revenue adjustments and rate structure changes. WRE will be prepared to answer any questions that City Council, the Commission, or the public may have.

Meetings: Three in-person meetings
Deliverables: Meeting presentationsin Microsoft PowerPoint, handouts and/or othermeeting materials TASK 6: PROPOSITION 218 SUPPORT
Proposition 218 Public Hearing Notice
WRE will draft a Proposition 218 public hearing notice that clearly shows all proposed wastewater and recycled water rates to be considered for adoption and provides details on the public hearing date, time, and location. The notice will also include clear instructions on how customers may protest the proposed rate changes. City staff and legal counsel will review the draft public hearing notice and provide requested changes to WRE for incorporation into a final version. The City is required to mail out the public hearing notice to all its water customers no fewer than 45 days prior to the scheduled public hearing.

Proposition 218 City Council Meetings
WRE will attend two in-person City Council meetings. Our understanding is that the goal of the first City Council meeting will be to seek authorization from City Council to proceed with the Proposition 218 public hearing process. The second City Council meeting will be the Proposition 218 public hearing, during which the goal is for City Council to adopt the proposed rates. WRE will be available to answer any questions from City Council or the public that may arise during the two meetings. If requested by City staff, WRE will also prepare a PowerPoint presentation and present a summary of the rate study results at each meeting. In addition, WRE will provide guidance asrequested on how to conduct the public hearing based on best practices and past experiences with other public water agencies in California.

Meetings: Two in-person City Council meetings
Deliverables: Draft and final Proposition 218 public hearing notice in Microsoft Word, meeting presentations in Microsoft PowerPoint

EXHIBIT B
Compensation Schedule
Water Resources Economics, LLC (WRE) proposes to complete the proposed scope of services based on the fee table shown below, with a not-to-exceed value of $42,079. WRE will invoice the City based on time and materials. The two individuals staffed on this project are Sanjay Gaur, the Project Manager with an hourly rate of $275 per hour, and Charles Diamond, the Project Analyst with an hourly rate of $180 per hour. Reimbursable expenses include travel costs for the project team to attend five in-person meetings, which is estimated to cost $127 per meeting. Based on our experience conducting the City’s prior two wastewater and recycled water studies as well as similar studies for other agencies, we have reorganized the tasks outlined in the draft scope of work in the RFQ/P. We believe that the tasks outlined below best describe WRE’s proposed study approach and will help ensure a successful rate study outcome.

EXHIBIT C

INSURANCE LANGUAGE
Without limiting Consultant’s indemnification of City, and prior to commencement of work and/or services under this Agreement, Consultant shall obtain, provide, and maintain at its own expense during the term of this Agreement, policies of insurance of the type and amounts described below and in a form satisfactory to City.

General Liability Insurance. Consultant shall maintain commercial general liability insurance with coverage at least as broad as Insurance Services Office form CG 00 01, in an amount not less than $1,000,000 per occurrence, $2,000,000 general aggregate, for bodily injury, personal injury, and property damage. The policy must include contractual liability that has not been amended. Any endorsement restricting standard ISO “insured contract” language will not be accepted.

Automobile Liability Insurance. Consultant shall maintain automobile insurance at least as broad as Insurance Services Office form CA 00 01 covering bodily injury and property damage for all activities of the Consultant arising out of or in connection with Work to be performed under this Agreement, including coverage for any owned, hired, non-owned, or rented vehicles, in an amount not less than 1,000,000 combined single limit for each accident.

Professional Liability (Errors & Omissions) Insurance. Consultant shall maintain professional liability insurance that covers the Services to be performed in connection with this Agreement, in the minimum amount of $1,000,000 per claim and in the aggregate. Any policy inception date, continuity date, or retroactive date must be before the effective date of this agreement and Consultant agrees to maintain continuous coverage through a period no less than three years after completion of the services required by this agreement.

Workers’ Compensation Insurance. Consultant shall maintain Workers’ Compensation Insurance (statutory limits) and Employer’s Liability insurance (with limits of at least $1,000,000).

Consultant shall submit to Agency, along with the certificate of insurance, a Waiver of Subrogation endorsement in favor of City, its officers, agents, employees, and volunteers.

Umbrella or Excess Liability Insurance. Consultant shall obtain and maintain an umbrella liability insurance policy with limits that will provide bodily injury, personal injury, and property damage liability coverage, including commercial general liability, automobile liability, and employer’s liability. Such policy or policies shall include the following terms and conditions:
• A drop-down feature requiring the policy to respond if any primary insurance that would otherwise have applied proves to be uncollectible in whole or in part for any reason, other than bankruptcy or insolvency of said primary insurer;
• “Pay on behalf of” wording as opposed to “reimbursement”; • Concurrency of effective dates with primary policies.

Should Consultant obtain and maintain an excess liability policy, such policy shall be excess over commercial general liability, automobile liability, and employer’s liability policies. Such policy or policies shall include wording that the excess liability policy follows the terms and conditions of the underlying policies.

OTHER PROVISIONS OR REQUIREMENTS
Proof of Insurance. Consultant shall provide certificates of insurance and required endorsements to City as evidence of the insurance coverage required herein. Insurance certificates and endorsements must be approved by City’s Risk Manager prior to commencement of performance. Current certification of insurance shall be kept on file with City for the contract period and any additional length of time required thereafter. City reserves the right to require complete, certified copies of all required insurance policies, at any time.

Duration of Coverage. Consultant shall procure and maintain for the contract period, and any additional length of time required thereafter, insurance against claims for injuries to persons or damages to property, or financial loss which may arise from or in connection with the performance of the Work hereunder by Consultant, their agents, representatives, employees, or subconsultants.

Primary/Noncontributing. Coverage provided by Consultant shall be primary and any insurance or self-insurance procured or maintained by City shall not be required to contribute with it. The limits of insurance required herein may be satisfied by a combination of primary and umbrella or excess insurance. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non-contributory basis for the benefit of City before the City’s own insurance or self- insurance shall be called upon to protect it as a named insured.

City’s Rights of Enforcement. In the event any policy of insurance required under this Agreement does not comply with these specifications or is canceled and not replaced, City has the right but not the duty to obtain the insurance it deems necessary, and any premium paid by City will be promptly reimbursed by Consultant or City will withhold amounts sufficient to pay premium from Consultant payments. In the alternative, City may cancel this Agreement.

Acceptable Insurers. All insurance policies shall be issued by an insurance company currently authorized by the Insurance Commissioner to transact business of insurance or is on the List of Approved Surplus Line Insurers in the State of California, with an assigned policyholders’ Rating of A- (or higher) and Financial Size Category Class VII (or larger) in accordance with the latest edition of Best’s Key Rating Guide, unless otherwise approved by the City’s Risk Manager.

Waiver of Subrogation. All insurance coverage maintained or procured pursuant to this agreement shall be endorsed to waive subrogation against City, its elected or appointed officers, agents, officials, employees, and volunteers or shall specifically allow Consultant or others providing insurance evidence in compliance with these specifications to waive their right of recovery prior to a loss. Consultant hereby waives its own right of recovery against City and shall require similar written express waivers and insurance clauses from each of its subconsultants.

Enforcement of Contract Provisions (Non Estoppel). Consultant acknowledges and agrees that any actual or alleged failure on the part of the City to inform Consultant of non-compliance with any requirement imposes no additional obligations on the City nor does it waive any rights hereunder.

Requirements Not Limiting. Requirements of specific coverage features or limits contained in this Section are not intended as a limitation on coverage, limits or other requirements, or a waiver of any coverage normally provided by any insurance. Specific reference to a given coverage feature is for purposes of clarification only as it pertains to a given issue and is not intended by any party or insured to be all inclusive, or to the exclusion of other coverage, or a waiver of any type. If the Consultant maintains higher limits than the minimums shown above, the City requires and shall be entitled to coverage for the higher limits maintained by the Consultant. Any available insurance proceeds in excess of the specified minimum limits of insurance and coverage shall be available to the City.

Notice of Cancellation. Consultant agrees to oblige its insurance agent or broker and insurers to provide the City with a thirty (30) day notice of cancellation (except for nonpayment for which a ten (10) day notice is required) or nonrenewal of coverage for each required coverage. If any of the Consultant’s insurers are unwilling to provide such notice, then Consultant shall have the responsibility of notifying the City immediately in the event of Consultant’s failure to renew any of the required insurance coverages, or insurer’s cancellation or non-renewal.

Additional Insured Status. General liability, automobile liability, and umbrella/excess liability insurance policies shall provide or be endorsed to provide that City and its officers, officials, employees, agents, and volunteers shall be additional insureds under such policies.

Prohibition Of Undisclosed Coverage Limitations. None of the coverages required herein will be in compliance with these requirements if they include any limiting endorsement of any kind that has not been first submitted to City and approved of in writing.

Separation of Insureds. A severability of interests’ provision must apply for all additional insureds ensuring that Consultant’s insurance shall apply separately to each insured against whom claim is made or suit is brought, except with respect to the insurer’s limits of liability. The policy(ies) shall not contain any cross-liability exclusions.

Pass Through Clause. Consultant agrees to ensure that its subconsultants, subcontractors, and any other party who is brought onto or involved in the project/service by Consultant (hereinafter collectively “Subcontractor”), provide the same minimum insurance coverage and endorsements required of Consultant under this Agreement. Consultant agrees to monitor and review all such coverage and assumes all responsibility for ensuring that such coverage is provided in conformity with the requirements of this section. However, in the event Consultant’s Subcontractor cannot comply with this requirement, which proof must be submitted to the City, Consultant may still be able to utilize the Subcontractor provided Consultant shall be required to ensure that its Subcontractor provide and maintain insurance coverage and endorsements sufficient to the specific risk of exposure involved with Subcontractor’s scope of work and services, with limits less than required of the Consultant, but in all other terms consistent with the Consultant’s requirements under this Agreement. This provision does not relieve the Consultant of its contractual obligations under the Agreement and/or limit its liability to the amount of insurance coverage provided by its subcontractors. This provision is intended solely to provide Consultant with the ability to utilize a Subcontractor who may be otherwise qualified to perform the work or services but may not carry the same insurance limits as required of the Consultant under this Agreement given the limited scope of work or services provided by the subcontractor. Consultant agrees that upon request, all agreements with Subcontractors, and others engaged in the project and/or services, will be submitted to City for review.

City’s Right to Revise Specifications. The City reserves the right at any time during the term of the contract to change the amounts and types of insurance required by giving the Consultant ninety (90) days’ advance written notice of such change. If such a change results in substantial additional costs to the Consultant, the City and Consultant may renegotiate the Consultant’s compensation.

Self-Insured Retentions. Any self-insured retentions must be declared to and approved by the City. City reserves the right to require that self-insured retentions be eliminated, lowered, or replaced by a deductible, or require proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention through confirmation from the underwriter.

Timely Notice Of Claims. Consultant shall give City prompt and timely notice of claims made or suits instituted that arise out of or result from Consultant’s performance under this Agreement, and that involve or may involve coverage under any of the required liability policies.

Additional Insurance. The consultant shall also procure and maintain, at its own cost and expense, any additional kinds of insurance, which in its own judgment may be necessary for its proper protection and prosecution of the work.
10/17/2023
The Liberty Company Insurance Brokers
Lic #0D79653
5955 De Soto Ave, Ste 250
Woodland Hills CA 91367
Caitlin Elsasser
(888) 918-3960
[email protected]
Water Resources Economics, LLC
10830 Pickford Way
Culver City CA 90230
Sentinel Insurance Company 11000
Hartford Casualty Insurance Company 29424
23-24 GL BA WC UMB
A Y Y 57SBMBN7148 07/19/2023 07/19/2024
1,000,000
1,000,000
10,000
1,000,000
2,000,000
2,000,000
A Y Y 57SBMBN7148 07/19/2023 07/19/2024
1,000,000
A
10,000
57SBMBN7148 07/19/2023 07/19/2024
5,000,000
5,000,000
B 57WECAM5U2P 07/19/2023 07/19/2024
1,000,000
1,000,000
1,000,000
A
Professional Liability
57SBMBN7148 07/19/2023 07/19/2024
Per Claim $1,000,000
Aggregate $2,000,000
Whereby required by written contract or agreement, City of Malibu and its officers, officials, employees, agents, and volunteers are included as an Additional Insureds under the Commercial General Liability and Automobile Liability on a Primary/Non-Contributory basis. Waiver of Subrogation in favor of the Additional Insured applies. 30 day notice of cancellation applies.

City of Malibu
23825 Stuart Ranch Rd.

Malibu CA 90265-4861

SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE

THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.

INSURER(S) AFFORDING COVERAGE
INSURER F :

INSURER E :

INSURER D :

INSURER C :

INSURER B :

INSURER A :

NAIC #
NAME:

CONTACT
(A/C, No):

FAX
E-MAIL
ADDRESS:

PRODUCER
(A/C, No, Ext):

PHONE

INSURED
COVERAGES CERTIFICATE NUMBER: REVISION NUMBER:

IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed.

If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s).

THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS

CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.

OTHER:
(Per accident)
(Ea accident)
$
$
N / A
SUBR
WVD
ADDL
INSD

THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS

CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. $
$
$
$

PROPERTY DAMAGE
BODILY INJURY (Per accident)
BODILY INJURY (Per person)

COMBINED SINGLE LIMIT

AUTOS ONLY

AUTOS ONLY AUTOS

NON-OWNED

OWNED SCHEDULED

ANY AUTO

AUTOMOBILE LIABILITY
Y / N

WORKERS COMPENSATION

AND EMPLOYERS' LIABILITY
OFFICER/MEMBER EXCLUDED?
(Mandatory in NH)
DESCRIPTION OF OPERATIONS below
If yes, describe under

ANY PROPRIETOR/PARTNER/EXECUTIVE
$
$
$
E.L. DISEASE - POLICY LIMIT
E.L. DISEASE - EA EMPLOYEE
E.L. EACH ACCIDENT
ER
OTHSTATUTEPER
(MM/DD/YYYY) LIMITS

POLICY EXP
(MM/DD/YYYY)

POLICY EFF

LTR TYPE OF INSURANCE POLICY NUMBER
INSR
DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required)

EXCESS LIAB
UMBRELLA LIAB EACH OCCURRENCE $
AGGREGATE $
$
OCCUR

CLAIMS-MADE
DED RETENTION $
PRODUCTS - COMP/OP AGG $
GENERAL AGGREGATE $
PERSONAL & ADV INJURY $
MED EXP (Any one person) $
EACH OCCURRENCE $

DAMAGE TO RENTED
PREMISES (Ea occurrence) $

COMMERCIAL GENERAL LIABILITY

CLAIMS-MADE OCCUR
GEN'L AGGREGATE LIMIT APPLIES PER:

POLICY
PROJECT LOC

CERTIFICATE OF LIABILITY INSURANCE DATE (MM/DD/YYYY)

CANCELLATION

AUTHORIZED REPRESENTATIVE
ACORD 25 (2016/03)
© 1988-2015 ACORD CORPORATION. All rights reserved.

CERTIFICATE HOLDER
The ACORD name and logo are registered marks of ACORD
HIRED

AUTOS ONLY
005
05/04/22 07/19/23
57 SBM BN7148
SS 00 01 03 14 SS 00 05 10 08 SS 00 08 04 05 SS 00 45 12 06 SS 00 60 09 15 SS 00 64 09 16 SS 01 21 02 20 SS 42 06 03 17 SS 04 38 09 09 SS 40 26 03 17 SS 41 63 06 11 SS 05 09 07 00 SS 05 47 09 15 IH 12 05 02 21 SS 50 19 01 15 SS 00 59 06 15 IH 99 40 04 09 IH 99 41 04 09 SX 80 01 06 97 SS 83 76 01 15 SS 89 93 07 16
Form SS 00 02 12 06 Page
Process Date: Policy Expiration Date:

SPECTRUM POLICY DECLARATIONS (Continued)
POLICY NUMBER:

Form Numbers of Forms and Endorsements that apply:

CITY OF MALIBU

PUBLIC WORKS DEPARTMENT

REQUEST FOR QUALIFICATIONS/PROPOSALS FOR
2024 WASTEWATER AND RECYCLED WATER RATES UPDATE
August 18, 2023
The Technical Qualifications Proposal and Cost Proposal must be submitted electronically and labeled:
“Request for Qualifications/Proposal
2024 WASTEWATER AND RECYCLED WATER RATES UPDATE
TECHNICAL QUALIFICATIONS”
“Request for Qualifications/Proposal
2024 WASTEWATER AND RECYCLED WATER RATES UPDATE
COST PROPOSAL”
All qualifications/proposals must be submitted on or before 4:00 p.m. on Thursday, September 21, 2023, to the following email:
[email protected];
Attention: Rob DuBoux
Public Works Director
City of Malibu
23825 Stuart Ranch Road
Malibu, CA 90265
All questions regarding the Request for Qualifications/Proposals (RFQ/P) must be submitted in writing no later than 4:00 PM on September 8, 2023. Please send all questions regarding this Request for Qualifications/Proposal in writing via email to Rob DuBoux, at [email protected].

REQUEST FOR QUALIFICATIONS/PROPOSALS FOR
2024 WASTEWATER AND RECYCLED WATER RATES UPDATE

1. Project Background and Description
The City of Malibu, California is requesting proposals from qualified firms to provide a comprehensive update to wastewater and recycled water rates. The City originally approved wastewater and recycled water rates for the properties within the Civic Center Water Treatment Facility Assessment District 2015-1, on September 11, 2017. The 2017 Wastewater and Recycled Water Rates were subsequently updated on May 13, 2021 to reflect actual operation and maintenance expenditures that were discovered after the first few years of operating the Civic Center Water Treatment Facility. The current wastewater and recycled water rates are valid until July 1, 2024, and need to be revised to update the current operational and maintenance costs and to extend the terms of the rates.

In 2018, the City completed the construction of the Civic Center Water Treatment Facility.

This facility was designed and constructed to accommodate the potential wastewater flows from the properties within the Malibu Civic Center area. The first phase of the project included the initial construction of the wastewater treatment facility, wastewater collection system and a recycled water system and was completed in October 2018. 57 parcels were included in the first phase with approximately 37 parcels connected to the treatment facility.

The wastewater and recycled water rates were developed to offset the operational and maintenance costs.

The City is currently designing phase two of the Civic Center Water Treatment Facility project.

This project is anticipated to be completed within the next 3-4 years and will add approximately 450 properties to the system. The consultant selected will assist the City in developing wastewater and recycled water rates that could be revised based upon the additional properties connected to the treatment facility.

The City seeks a qualified consultant to update to the City’s Wastewater and Recycled Water Rates. Any rate increase(s) shall be governed by the need to meet operating and capital costs, maintain adequate debt coverage, and build reserve funds. It is critical for the City to maintain reasonable reserves in order to handle emergencies, fund working capital, maintain a good credit rating, and generally follow sound financial management practices. The goal of the study is to adequately fund the wastewater and recycled water utility operations and capital costs while minimizing rates to the greatest degree possible. The work also includes assisting the City with setting these rates through the Proposition 218 process.

2. Proposal Submittal Guidelines
The City is requiring all proposals submitted in response to this RFQ/P to follow a specific format. A cover letter shall guarantee that key personnel, or equally qualified replacements, will be committed to perform the required tasks throughout the duration of the contract. A cost schedule shall be included with the proposal submittal.

One electronic copy of the technical qualifications, including the separate electronic copy of the cost proposal will be required with each proposal having been signed by the company official with the power to bind the company in its proposal.

Technical Qualifications and Cost Proposal shall be submitted electronically to [email protected], but must be received no later than 4:00 p.m., September 21, 2023. Proposals may be withdrawn prior to the established date and time. No extensions will be granted.

All Technical Qualifications and Cost Proposals will become the property of the City of Malibu and will be made available for public inspection after an award is made or rejected.

3. Technical Qualifications/Cost Proposal Format
The Technical Qualifications shall be organized in the following sections to facilitate review by the City. Consultants shall adhere to the page limit stated below. If additional information is needed, it may be included in the Appendix. However, due to time constraints, the City may not be able to review the items in the Appendix as thoroughly as Sections a. through f.

Technical Qualifications shall be limited to a total maximum of fifteen (15) double sided pages or thirty (30) single sided pages, all letter size. This total page limit may be split across the Sections a through f as deemed appropriate by the consultant. Large format pages, including 11”x17” pages, will be counted as two (2) pages.

Technical Qualifications shall include the following:
a. Cover Letter/Executive Summary
Provide a cover letter/executive summary emphasizing the strong points of the project team, qualifications and experience. The cover letter/executive summary shall include the name, address, telephone number, title and signature of the firm’s contact person for this proposal, and state that the submittal is valid for 120 days. The cover letter constitutes certification by the consultant, under penalty of perjury, that the consultant complies with nondiscrimination requirements of the State and the Federal Government. The cover letter/executive summary shall also include a statement by the consultant informing the City whether or not they have any exceptions with the City’s terms and contract conditions stated in this RFQ/P, including, but not limited to, insurance and the Agreement for Professional Services, and stating that only those exceptions noted in the consultant’s proposal will be subject to discussion and negotiation with the City. The cover letter/executive summary shall be signed by a person with the official authority to bind the company.

An unsigned proposal or one signed by an individual unauthorized to bind the consultant may be rejected.
b. Required Standards of Experience
This section establishes standards of experience and financial capabilities that the City requires for a Company to be considered qualified. The City, at its sole discretion, will decide if a Company meets the required standards.

Provide information showing that the Company has:
• Staff that have experience in providing wastewater and or recycled water rate studies for at least 10 years.
• Staff that have completed wastewater and or recycled water rate studies for at least two separate municipalities during the past twelve years that are comparable in size and complexity to the City’s Facilities with a strong record of environmental compliance. Describe the Company’s approach to completing the rate studies meeting regulatory compliance.
• Proven business systems in full service public-private contracts for operation, process control, maintenance, asset management and the general management of treatment facilities. Describe the systems and cite examples of past and present utilization.
c. Relevant Experience and References
Provide detailed information about the Company’s overall experience with developing wastewater and recycled water rate studies. Provide details of the rate studies, including size of the municipality and treatment facility, for the past twelve (12) years. Provide current contact information for all contracts discussed.

Provide the technical qualifications of the individual team members and principal subcontractors, if applicable, that will execute the scope of work. Also provide information on relative experience setting rates through the Proposition 218 process. d. Approach/Methodology
In this section, address the Company’s approach and or methodology in developing an update to the wastewater and recycled water rate study. • Describe your understanding of the services to be performed. Please include a brief description of the proposed approach and methodology required to complete the scope of services, including timelines, which would be used to complete the project. This section should demonstrate your firm’s ability to conduct these services in a professional and efficient manner.
• Management Team who will be accountable for the contract and the technical personnel that will support the project.
e. Conflict of Interest
The consultant shall disclose any financial, business or other relationships with the City that may have an impact on the outcome of this contract or any resulting construction project. The consultant shall also list current clients who may have a financial interest in the outcome of this contract.
f. Exceptions
This Section shall discuss any exceptions or requested changes that Proposer has to the City’s RFQ/P conditions, requirements and sample contract. If there are no exceptions noted, it is assumed the Proposer will accept all conditions and requirements identified in the attached “Agreement for Professional Services.” Items not excepted will not be open to later negotiation.

Cost Proposal
The cost proposal shall be submitted in a separate digital file and clearly labeled “Cost Proposal” with the name of the firm and the project title. The Cost Proposal is considered a criteria once the final recommendation has been made, but is not the sole factor in the selection process. The Cost Proposal shall contain the following:
• The cost proposal shall be submitted for the consultant services outlines in the scope of work.
• The proposed cost budget should present the labor rates and proposed labor hours of proposed staff for each work task described in the consultant’s proposal, as well as, other direct costs.
• The proposal shall contain a breakdown of the anticipated costs by task. The proposal shall list the unit cost for the following tasks:

Task Description Cost
Task 1 Project Coordination $
Task 2 Draft Rate Update Report $
Task 3 Final Rate Update Report $
Task 4 Public Outreach $
Task 5 Proposition 218 $
Total $
The cost proposal shall be submitted in accordance with the specified format in this RFQ/P and shall be complete in every detail. The pricing shall be based on the scope of work and conditions included with, and described within, this RFQ/P.

If the Company takes exception to terms and conditions, it must provide an alternative proposal that includes the alternative language, an explanation of the benefits of the proposed change to the City and finally the impact of the proposed change on the Service Fee (s).

4. Selection Procedure
The following is an outline of the procedure the City will use in the selection process:
a. A Selection Committee is formed comprising of City personnel and, if the City chooses, other agency personnel.
b. The Selection Committee reviews and evaluates the proposals submitted by prospective consultants and determines if interviews are needed. c. If needed, the Selection Committee will determine which of the prospective consultants will be invited to the oral interview process. d. The Selection Committee evaluates and ranks the firms based on the oral interview (if needed) and completeness of the proposal and makes a final recommendation.
e. Negotiations will take place with the primary firm on the final scope of work, contract, and proposal price.

The interview process will take place utilizing Zoom Software services at a date/time to be determined.

5. Evaluation Criteria
The Selection Committee will evaluate, rate and rank the Technical Qualifications based on the following criteria:

Technical Proposal (Total Points Possible = 50 pts.)
a. Responsiveness to the terms, conditions, and items of performance. (5 pts.) b. Corporate Profile Qualifications - The Company will be evaluated based on the breadth of its capabilities, project organization structure and years of experience providing similar services. (15 pts.)
c. Experience & Technical Qualifications – The Company’s experience will be evaluated based upon its past history of successfully completing rate studies. (30 pts.)
If required, the Selection Committee may elect to evaluate and rank the Presentation Interviews based on the following criteria:

Oral Interview Presentation (if needed) (Total Points Possible = 40 pts.) a. Overall quality of presentation and response to questions. (15 pts.) b. Understanding scope of work. (15 pts.)
c. Approach to performing work including communication with City staff and team, daily management and coordination of the overall contract, and the Project Manager’s approach to completing the work on time and budget. (10 pts.)
Cost Proposal
No cost proposals will be reviewed prior to the evaluation of the technical qualifications. Once final recommendations have been made for interviews, negotiations on the final cost proposal will ensue. In the event no agreement can be reached on the price, the City reserves the right to begin negotiations with all eligible proposers.

The City reserves the right to reject any and all proposals.

6. Time Schedule
• Solicit for Proposals August 18, 2023
• Last Day to Submit Questions September 8, 2023
• Last Day for City to Respond to Questions September 15, 2023 • Proposal Deadline September 21, 2023
• Complete Review, Rank Proposal September 29, 2023
• Oral Interviews (if needed) TBD
• Negotiate Agreement TBD
• Award of Contract TBD
The above dates are approximate and are subject to change at the City’s discretion.

7. Inquiries
All questions regarding the Request for Qualifications/Proposals (RFQ/P) must be submitted in writing. Please send all questions regarding this Request for Qualifications/Proposal in writing via email to Rob DuBoux, Public Works Director, at [email protected] no later than 4:00 PM, September 8, 2023.

8. Draft Scope of Work for Wastewater and Recycled Water Rate Update

DRAFT SCOPE OF WORK
TASK 1.0 – PROJECT COORDINATION

1.1 The Consultant will provide day-to-day project management, including progress reports, tracking of schedules, invoicing, document control and overall administration of the project. We have assumed a project schedule of 9 months to establish the effort for this task. The Consultant will attend up to 6 project meetings as directed by the City to include City staff and other participants. We will communicate regularly with City staff on the progress of the plans and design. The Consultant will prepare a detailed project schedule that will include expected meetings, activities (by work task, whether performed by The Consultant’s team or others), duration, submittal dates, and critical path items. We will provide project schedule updates on deliverables and meetings as changes to the original schedule occur or as needed based on the needs of the project.

1.2 The Consultant shall arrange and participate in a project kick-off meeting. The Consultant shall prepare a meeting agenda and any meeting materials. The purpose of this meeting is to review the project scope of work, schedule, clarify challenges and opportunities and establish communication protocols.

1.3 Conduct a detailed review of the wastewater and recycled water operation, maintenance and capital replacement costs.

1.4 Meet or confer with staff as needed and attend up to three meetings with the City to discuss the preliminary findings.

Deliverables:
• Project Kick-off meeting agenda and meeting materials • Project Kick-off meeting summary with action items
• Project schedule
• Progress Reports via agreed upon format
• Monthly invoices
TASK 2.0 – PRELIMINARY REPORT

2.1 Create a preliminary report that addresses the following:
• Develop a new wastewater and recycled water rate structure that addresses the new wastewater and recycled water operation, maintenance and capital replacement costs. The new rate structure shall consider the funding longterm of capital replacement on a new system. • Identify the various direct costs included in the City’s budget and make recommendations for any changes necessary to ensure those direct operational costs are properly aligned with the appropriate enterprise fund. • Evaluate and quantify the costs of future expansion with Phase 2 proposed for the wastewater and recycled water distribution system. • Consider the current and future cost of providing wastewater and recycled water services in conformance with established or anticipated changes to standards and regulations.

2.2 Create a new rate model or spreadsheet model and provide training to staff in running “scenarios” that will allow staff to fully understand how the model operates and how the results of various future recommendations that may be proposed can be illustrated. The new model must have user friendly dashboard with interactive graphics that automatically produces a suite of reports and graphs as inputs are changed.

2.3 Make recommendations on billing and collection systems.

Deliverables:
• Submit 4 copies of the Preliminary Report and one electronic copy in Microsoft Word.
• Submit a copy of the rate model or spreadsheet
• Submit a preliminary recommendation on the billing and collection system.

TASK 3.0 – FINAL REPORT

3.1 Create a Final Report based upon the comments received from the City and stakeholders from public workshops and City Council and Commission meetings.

3.2 Make revisions to the rate model or spreadsheet model as requested by the City. In addition, provide additional training to staff as needed based upon these revisions.

Deliverables:
• Submit 4 copies of the Final Report and one electronic copy in Microsoft Word. • Submit a copy of the rate model or spreadsheet if revised • Submit a final user manual for the rate model or spreadsheet model TASK 4.0 – PUBLIC OUTREACH

4.1 The Consultant will prepare for and assist the City in conducting public information sessions regarding the rate structures. The Consultant will provide graphics and presentation support, which could include handouts, cost estimates, and other relevant project information. The Consultant shall perform the public workshops at the following stages:
• At the conclusion of Task 2.0 (Preliminary Report) to present the proposed rate structures to the public for feedback.
• At the conclusion of Task 3.0 (Final Report) to present the Final Report and discuss concerns of the residents, property owners, and other stakeholders.

4.2 The Consultant will also support the City staff and participate in one Council presentation and two Commission meetings. Additional meetings or workshops requested by the City will be considered additional and scope will be performed upon City’s approval.

Deliverables:
• Meeting agendas and meeting materials
• Meeting summary with action items
TASK 5.0 – PROPOSITION 218

5.1 The Consultant shall assist the City in the approval of the wastewater and recycled water rates through the Proposition 218 process. This work includes producing all documents and notices needed for the formation and approval of the new rates.

5.2 The Consultant shall attend two (2) City Council meetings in regards to the Proposition 218 process.

Deliverables:
• Proposition 218 documents
Attachment A

CITY OF MALIBU

PUBLIC WORKS DEPARTMENT

REQUEST FOR PROPOSAL TERMS AND CONDITIONS
Contract Requirement - The Consultant to whom the contract is awarded shall execute a written contract with the City within ten (10) calendar days after notice of the award has been sent by mail to the Consultant at the address given in the Proposal. The contract/agreement shall be made in the form adopted by the City and incorporated in these specifications. The Consultant warrants that he/she possesses, or has arranged through subcontracts, all capital and other equipment, labor and materials to carry out and complete the work hereunder in compliance with all Federal, State, County, City and Special District Laws, Ordinances, and Regulations which are applicable. Consultant, in its proposal, shall inform the City of any exceptions it may have with the City’s terms and contract conditions stated in this RFQ/P, including, but not limited to, insurance and the Agreement for Professional Services. Only those exceptions noted in the Consultant’s proposal will be subject to discussion and negotiation with the City.

Contract Assignment - The Consultant shall not assign, transfer, convey or otherwise dispose of the contract, or its right, title or interest, or its power to execute such a contract to any individual or business entity of any kind without the previous written consent of the City of Malibu.

Non-Discrimination - In the performance of the terms of this contract, the Consultant agrees that it will not engage in, nor permit such subcontractors as it may employ to engage in, discrimination in employment of persons because of age, race, color, sex, national origin or ancestry, or religion of such person(s).

Communications Regarding Request for Qualifications/Proposals (RFQ/P) - If a Consultant is in doubt as to the true meaning or intent of any part of the RFQ/P, he/she may submit to the Public Works Director, or his designee, a written request for an interpretation or a correction thereof.

Interpretation or corrections of the RFQ/P shall be made only by addendum duly issued by the Public Works Director, or his designee, and a copy of such addendum will be mailed or delivered to each person receiving an RFQ/P, and such addendum shall be considered a part of, and incorporated in, the RFQ/P. All timely requests for information submitted in writing will receive a written response from the City. Telephone communication with City staff is not encouraged, but will be permitted. However, any such oral communication shall not be binding on the City.

The deadline for submitting request for information in regards to the RFQ/P shall be 4:00 p.m. on September 8, 2023. A final response will be made no later than 5:30 p.m. on September 15, 2023.

Modification or Withdrawal of Submittals - Any proposal received prior to the date and time specified for receipt of proposals may be withdrawn or modified by written request of the Consultant. To be considered, however, the modified proposal must be received by the time and date specified.

Property Rights - Proposals received within the prescribed deadline become the property of the City and all rights to the contents therein become those of the City.

Confidentiality - Prior to award of the contract, all proposals will be designated confidential to the extent permitted by the California Public Records Act. After award of the contract, or if not awarded, after rejection of all proposals, all responses will be regarded as public records and will be subject to review by the public. Any language purported to render confidential all or portions of the proposals will be regarded as non-effective and will be disregarded.

Amendments to Request for Proposal - The City reserves the right to amend the Request for Proposal by addendum prior to the final proposal submittal date.

Payment Terms - The City's payment terms are 30 days from the receipt of an original invoice referencing the City's Purchase Order number and acceptance of the services.

Ownership of Reports and Data - The originals of all studies, reports, logs, exhibits, documents, data and/or other work/material(s) prepared and/or used to comply with any section/condition of these specifications, plus any copies of same required by the agreement to be furnished to the City and County, shall be deemed to be public records which shall be open to inspection by the public and, as such, shall become and remain the sole property of the City.

Contract Term - This contract will cover services per the contract. The cost proposed by Consultant must be valid for the entire period unless otherwise conditioned in the Proposal.

Non-Exclusive Contract - The City reserves the right to contract with other Engineering Professional Service firms during the contract term.

Insurance - The Consultant shall meet the following provisions (Sections 1 through 7) relating to insurance coverages.

1. General Conditions - Without limiting the Consultant's indemnification of the City, Consultant shall provide and maintain at its own expense the insurance listed under Section 7 (Evidence of Coverages) covering its operations, subject to the following conditions:
a) The City, its Boards, Officers, Agents, and Employees shall be included as additional insured in all liability insurance policies except for Workers' Compensation and Professional Errors and Omissions. The City shall be named Loss Payee as its interest may appear in all property insurance. b) Such insurance shall be primary with respect to any insurance maintained by City and shall not call on City’s insurance.
c) With respect to the interests of the City, the Consultant's insurance shall not be cancelled nor reduced in coverage or limits until after thirty (30) days written notice shall have been sent by certified mail (return receipt requested) to the City of Malibu, Public Works Department, 23825 Stuart Ranch Road, Malibu, California 90265, and shall contain an unequivocal clause stating these terms. d) A City approved endorsement or copy of insurance policies providing coverage shall be submitted to and approved by the Public Works Department prior to commencement of any work or tenancy.

2. Workers' Compensation - The Consultant shall procure and maintain during the life of the contract, workers' compensation insurance or a valid certificate of consent to self-insure for all its employees engaged on or at the site of the project; and in case any of the work is sublet, the Consultant shall require all subconsultant(s) to similarly provide workers' compensation insurance for all the latter's employees unless such employees are covered by protection afforded by workers' compensation insurance carried by the Consultant.

By submitting a proposal pursuant to these specifications, Consultant hereby certifies that it is aware of the provisions of Section 3700 et seq., of the Labor Code, which require every employer to be insured against liability for Workers' Compensation.

3. Aggregate Limits/Blanket Coverage - If any of the required insurance coverage’s contain aggregate limits, or apply to other operations or tenancy of the Consultant outside these specifications, Consultant shall give City prompt, written notice of any incident, occurrence, claim, settlement, or judgment against that insurance which may diminish the protection that such insurance affords the City. Consultant shall further take immediate steps restoring such aggregate limits or shall provide other insurance protection for such aggregate limits.

4. Modification of Coverage - The reserves the right at any time during the term of any contract executed with the Consultant pursuant to these specifications to change the amounts and types of insurance required hereunder by giving the Consultant ninety (90) days written notice. If such change should result in a premium increase in excess of ten (10%) percent to the Consultant, the City agrees to negotiate additional compensation proportional to the increased benefit to the City.

5. Failure to Procure Insurance - The Consultant's failure to procure or maintain the required insurance shall constitute a material breach of contract under which the City may immediately terminate the Agreement or, at its discretion, procure or renew such insurance to protect the City’s interests and pay any and all premiums in connection therewith, and recover all monies so paid from the Consultant, or deduct all monies so paid from payment(s) due to the Consultant.

6. Underlying Insurance - The Consultant shall be responsible for requiring indemnification and insurance as it deems appropriate from its employees receiving mileage allowance, consultants, agents, and subconsultant(s), if any, to protect the Consultant's and the City’s interests, and for ensuring that such persons comply with any applicable insurance statutes. The Consultant is encouraged to seek professional advice in this regard.

7. Evidence of Coverages - Evidence of coverages as checked below, having as a minimum the limits shown, must be submitted and approved prior to commencement of work or any tenancy. Amounts shown are Combined Single Limit (CSL). Split limits may be substituted if the total per occurrence equals or exceeds the CSL amount.

Description Limits
X Workers’ Compensation Statutory
(X) Employer’s Liability $250,000
( ) Waiver of Subrogation
X General Liability $1,000,000
(must be written on an occurrence form)
(X) Premises and Operations
(X) Contractual Liability
(X) Independent Consultants
(X) Products/Completed Operations
(X) Broad Form Property Damage
(X) Personal Injury
(X) Broad Form Liability Endorsement
(X) Explosion Hazard
(X) Collapse/Underground Hazard
X Automobile Liability $1,000,000
(must be written on an Occurrence Form
(X) Owned Automobilies
(X) Nonowned/Hired Automobiles
(X) Garage Keeper’s Legal Liability
X Professional Liability (Errors and Omissions) $1,000,000 (to be in continuous force from date of award
until one year after final acceptance of the property)
Non-commitment of Department - This Request for Proposal does not commit the City to award a contract, to pay any costs incurred in the preparation of a Proposal for this request, or to procure or contract for services. The City reserves the right to accept or reject any or all proposals received as a result of this request, to negotiate with any qualified firm or to modify or cancel in part or in its entirety the Request for Proposal if it is in the best interests of the City to do so.

Public Domain - All products used or developed in the execution of any contract resulting from this Request for Proposal will remain in the public domain at the completion of the contract.

Termination - The City reserves the right to terminate this agreement upon thirty (30) calendar days from written notice to the Consultant.

Processing Requirements - All reports/drawings are required to be submitted directly to and picked up from the City of Malibu, Public Works Department. All reports/drawings will be transmitted directly between the Consultant and the City. The Consultant is required to develop and furnish the City Engineer with a legible written report. If the Consultant fails to submit the required reports/drawings as set forth in this section, the City shall have the right to withhold payment, and/or terminate the agreement. Once the reports/drawings have been completed and/or reviewed, the professional engineering service consultant will be required to return them to the City for further processing and coordination with other Departments and Divisions.

Required Timeframes - The Consultant office hours shall be 8:00 a.m. to 5:00 p.m., Monday through Friday, so that the Consultant will be available to City staff and design professionals.

Conflicts of Interest - Consultant agrees to promptly notify City whenever a client of Consultant has an interest in any project referred to Consultant for professional services. In particular, Consultant shall disclose any financial interest or relationship with any construction company that might submit a bid on the resulting construction project. Such project may be withdrawn by the City with no compensation due, if the Consultant has a conflicting interest.

Inspections – City reserves the right to inspect the work being accomplished by the Consultant at any time.

Assignment of Consultant Personnel - The Consultant shall have City’s approval prior to changing the staff or subconsultants assigned to this project.

Attachment B

AGREEMENT FOR PROFESSIONAL SERVICES
This Agreement is made and entered into as of [date] by and between the City of Malibu (hereinafter referred to as the "City"), and ____________ (hereinafter referred to as "Consultant").

The City and the Consultant agree as follows:

R E C I T A L S
A. The City does not have the personnel able and/or available to perform the services required under this Agreement.

B. The City desires to contract out for consulting services for certain projects relating ______________________________________________.

C. The Consultant warrants to the City that it has the qualifications, experience and facilities to perform properly and timely the services under this Agreement.

D. The City desires to contract with the Consultant to perform the services as described in Exhibit A of this Agreement.

NOW, THEREFORE, the City and the Consultant agree as follows:

1.0 SCOPE OF THE CONSULTANT’S SERVICES. The Consultant agrees to provide the services and perform the tasks set forth in the Scope of Work, attached to and made part of this Agreement, except that, to the extent that any provision in Exhibit A conflicts with this Agreement, the provisions of this Agreement govern. The Scope of Work may be amended from time to time by way of a written directive from the City.

2.0 TERM OF AGREEMENT. This Agreement will become effective on [date], and will remain in effect for a period of ____ years from said date unless otherwise expressly extended and agreed to by both parties or terminated by either party as provided herein.

3.0 CITY AGENT. The City Manager, or his or her designee, for the purposes of this Agreement, is the agent for the City; whenever approval or authorization is required, Consultant understands that the City Manager, or his or her designee, has the authority to provide that approval or authorization.

4.0 COMPENSATION FOR SERVICES. The City shall pay the Consultant for its professional services rendered and costs incurred pursuant to this Agreement in accordance with the Scope of Work’s fee and cost schedule. The cost of services shall be $_______ per month, for a total amount not to exceed $______. No additional compensation shall be paid for any other expenses incurred, unless first approved by the City Manager, or his or her designee.

4.1 The Consultant shall submit to the City, by no later than the 10th day of each month, its bill for services itemizing the fees and costs incurred during the previous month. The City shall pay the Consultant all uncontested amounts set forth in the Consultant's bill within 30 days after it is received.

5.0 CONFLICT OF INTEREST. The Consultant represents that it presently has no interest and shall not acquire any interest, direct or indirect, in any real property located in the City which may be affected by the services to be performed by the Consultant under this Agreement.

The Consultant further represents that in performance of this Agreement, no person having any such interest shall be employed by it.

5.1 The Consultant represents that no City employee or official has a material financial interest in the Consultant’s business. During the term of this Agreement and/or as a result of being awarded this contract, the Consultant shall not offer, encourage or accept any financial interest in the Consultant’s business by any City employee or official.

5.2 If a portion of the Consultant’s services called for under this Agreement shall ultimately be paid for by reimbursement from and through an agreement with a developer of any land within the City or with a City franchisee, the Consultant warrants that it has not performed any work for such developer/franchisee within the last 12 months, and shall not negotiate, offer or accept any contract or request to perform services for that identified developer/franchisee during the term of this Agreement.

6.0 GENERAL TERMS AND CONDITIONS.

6.1 Termination. Either the City Manager or the Consultant may terminate this Agreement, without cause, by giving the other party ten (10) days written notice of such termination and the effective date thereof.

6.1.1 In the event of such termination, all finished or unfinished documents, reports, photographs, films, charts, data, studies, surveys, drawings, models, maps, or other documentation prepared by or in the possession of the Consultant under this Agreement shall be returned to the City. If the City terminates this Agreement without cause, the Consultant shall prepare and shall be entitled to receive compensation pursuant to a close-out bill for services rendered and fees incurred pursuant to this Agreement through the notice of termination. If the Consultant terminates this Agreement without cause, the Consultant shall be paid only for those services completed in a manner satisfactory to the City.

6.1.2 If the Consultant or the City fail to fulfill in a timely and proper manner its obligations under this Agreement, or if the Consultant or the City violate any of the covenants, agreements, or stipulations of this Agreement, the Consultant or the City shall have the right to terminate this Agreement by giving written notice to the other party of such termination and specifying the effective date of such termination. The Consultant shall be entitled to receive compensation in accordance with the terms of this Agreement for any work satisfactorily completed hereunder. Notwithstanding the foregoing, the Consultants shall not be relieved of liability for damage sustained by virtue of any breach of this Agreement and any payments due under this Agreement may be withheld to off-set anticipated damages.

6.2 Non-Assignability. The Consultant shall not assign or transfer any interest in this Agreement without the express prior written consent of the City.

6.3 Non-Discrimination. The Consultant shall not discriminate as to race, creed, gender, color, national origin or sexual orientation in the performance of its services and duties pursuant to this Agreement, and will comply with all applicable laws, ordinances and codes of the Federal, State, County and City governments.

6.4 Insurance. The Consultant shall submit to the City certificates indicating compliance with the following minimum insurance requirements no less than one (1) day prior to beginning of performance under this Agreement:
(a) Workers Compensation Insurance as required by law. The Consultant shall require all subcontractors similarly to provide such compensation insurance for their respective employees.
(b) Comprehensive general and automobile liability insurance protecting the Consultant in amounts not less than $1,000,000 for personal injury to any one person, $1,000,000 for injuries arising out of one occurrence, and $500,000 for property damages or a combined single limit of $1,000,000. Each such policy of insurance shall:
1) Be issued by a financially responsible insurance company or companies admitted and authorized to do business in the State of California or which is approved in writing by City.
2) Name and list as additional insured the City, its officers and employees.
3) Specify its acts as primary insurance.
4) Contain a clause substantially in the following words: "It is hereby understood and agreed that this policy shall not be canceled nor materially changed except upon thirty (30) days prior written notice to the City of such cancellation or material change." 5) Cover the operations of the Consultant pursuant to the terms of this Agreement.

6.5 Indemnification. Consultant shall indemnify, defend with counsel approved by City, and hold harmless City, its officers, officials, employees and volunteers from and against all liability, loss, damage, expense, cost (including without limitation reasonable attorneys fees, expert fees and all other costs and fees of litigation) of every nature arising out of or in connection with Consultant’s negligence, recklessness or willful misconduct in the performance of work hereunder or its failure to comply with any of its obligations contained in this Agreement, except such loss or damage which is caused by the sole active negligence or willful misconduct of the City. The Consultant shall promptly pay any final judgment rendered against the City (and its officers, officials, employees and volunteers) with respect to claims determined by a trier of fact to have been the result of the Consultant’s negligent, reckless or willful misconduct. It is expressly understood and agreed that the foregoing provisions are intended to be as broad and inclusive as is permitted by the law of the State of California and will survive termination of this Agreement.

6.6 Compliance with Applicable Law. The Consultant and the City shall comply with all applicable laws, ordinances and codes of the federal, state, county and city governments, including, without limitation, Malibu Municipal Code Chapter 5.36 Minimum Wage.

6.7 Independent Contractor. This Agreement is by and between the City and the Consultant and is not intended, and shall not be construed, to create the relationship of agency, servant, employee, partnership, joint venture or association, as between the City and the Consultant.

6.7.1. The Consultant shall be an independent contractor, and shall have no power to incur any debt or obligation for or on behalf of the City. Neither the City nor any of its officers or employees shall have any control over the conduct of the Consultant, or any of the Consultant’s employees, except as herein set forth, and the Consultant expressly warrants not to, at any time or in any manner, represent that it, or any of its agents, servants or employees are in any manner employees of the City, it being distinctly understood that the Consultant is and shall at all times remain to the City a wholly independent contractor and the Consultant's obligations to the City are solely such as are prescribed by this Agreement.

6.8 Copyright. No reports, maps or other documents produced in whole or in part under this Agreement shall be the subject of an application for copyright by or on behalf of the Consultant.

6.9 Legal Construction.
(a) This Agreement is made and entered into in the State of California and shall in all respects be interpreted, enforced and governed under the laws of the State of California.
(b) This Agreement shall be construed without regard to the identity of the persons who drafted its various provisions. Each and every provision of this Agreement shall be construed as though each of the parties participated equally in the drafting of same, and any rule of construction that a document is to be construed against the drafting party shall not be applicable to this Agreement.
(c) The article and section, captions and headings herein have been inserted for convenience only and shall not be considered or referred to in resolving questions of interpretation or construction.
(d) Whenever in this Agreement the context may so require, the masculine gender shall be deemed to refer to and include the feminine and neuter, and the singular shall refer to and include the plural.

6.10 Counterparts. This Agreement may be executed in counterparts and as so executed shall constitute an agreement which shall be binding upon all parties hereto.

6.11 Final Payment Acceptance Constitutes Release. The acceptance by the Consultant of the final payment made under this Agreement shall operate as and be a release of the City from all claims and liabilities for compensation to the Consultant for anything done, furnished or relating to the Consultant’s work or services. Acceptance of payment shall be any negotiation of the City’s check or the failure to make a written extra compensation claim within ten (10) calendar days of the receipt of that check. However, approval or payment by the City shall not constitute, nor be deemed, a release of the responsibility and liability of the Consultant, its employees, sub-consultants and agents for the accuracy and competency of the information provided and/or work performed; nor shall such approval or payment be deemed to be an assumption of such responsibility or liability by the City for any defect or error in the work prepared by the Consultant, its employees, sub-consultants and agents.

6.12 Corrections. In addition to the above indemnification obligations, the Consultant shall correct, at its expense, all errors in the work which may be disclosed during the City’s review of the Consultant’s report or plans. Should the Consultant fail to make such correction in a reasonably timely manner, such correction shall be made by the City, and the cost thereof shall be charged to the Consultant.

6.13 Files. All files of the Consultant pertaining to the City shall be and remain the property of the City. The Consultant will control the physical location of such files during the term of this Agreement and shall be entitled to retain copies of such files upon termination of this Agreement.

6.14 Waiver; Remedies Cumulative. Failure by a party to insist upon the performance of any of the provisions of this Agreement by the other party, irrespective of the length of time for which such failure continues, shall not constitute a waiver of such party's right to demand compliance by such other party in the future. No waiver by a party of a default or breach of the other party shall be effective or binding upon such party unless made in writing by such party, and no such waiver shall be implied from any omissions by a party to take any action with respect to such default or breach. No express written waiver of a specified default or breach shall affect any other default or breach, or cover any other period of time, other than any default or breach and/or period of time specified. All of the remedies permitted or available to a party under this Agreement, or at law or in equity, shall be cumulative and alternative, and invocation of any such right or remedy shall not constitute a waiver or election of remedies with respect to any other permitted or available right of remedy.

6.15 Mitigation of Damages. In all such situations arising out of this Agreement, the parties shall attempt to avoid and minimize the damages resulting from the conduct of the other party.

6.16 Partial Invalidity. If any provision in this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions will nevertheless continue in full force without being impaired or invalidated in any way.

6.17 Attorneys' Fees. The parties hereto acknowledge and agree that each will bear his/her or its own costs, expenses and attorneys' fees arising out of and/or connected with the negotiation, drafting and execution of the Agreement, and all matters arising out of or connected therewith except that, in the event any action is brought by any party hereto to enforce this Agreement, the prevailing party in such action shall be entitled to reasonable attorneys' fees and costs in addition to all other relief to which that party or those parties may be entitled.

6.18 Entire Agreement. This Agreement constitutes the whole agreement between the City and the Consultant, and neither party has made any representations to the other except as expressly contained herein. Neither party, in executing or performing this Agreement, is relying upon any statement or information not contained in this Agreement. Any changes or modifications to this Agreement must be made in writing appropriately executed by both the City and the Consultant.

6.19 Notices. Any notice required to be given hereunder shall be deemed to have been given by depositing said notice in the United States mail, postage prepaid, and addressed as follows:

CITY: Steve McClary CONSULTANT:

City Manager
City of Malibu
23825 Stuart Ranch Road
Malibu, CA 90265-4861
TEL (310) 456-2489 x 224
FAX (310) 456-2760

6.20 Warranty of Authorized Signatories and Acceptance of Facsimile or Electronic Signatures. Each of the signatories hereto warrants and represents that he or she is competent and authorized to enter into this Agreement on behalf of the party for whom he or she purports to sign. The Parties agree that this Contract, agreements ancillary to this Contract, and related documents to be entered into in connection with this Contract will be considered signed when the signature of a party is delivered physically or by facsimile transmission or scanned and delivered via electronic mail. Such facsimile or electronic mail copies will be treated in all respects as having the same effect as an original signature.

7.0 GENERAL TERMS AND CONDITIONS. (City and Consultant initials required at EITHER 7.1 or 7.2)

7.1 Disclosure Required. By their respective initials next to this paragraph, City and Consultant hereby acknowledge that Consultant is a “consultant” for the purposes of the California Political Reform Act because Consultant’s duties would require him or her to make one or more of the governmental decisions set forth in Fair Political Practices Commission Regulation 18700.3(a) or otherwise serves in a staff capacity for which disclosure would otherwise be required were Consultant employed by the City. Consultant hereby acknowledges his or her assumingoffice, annual, and leaving-office financial reporting obligations under the California Political Reform Act and the City’s Conflict of Interest Code and agrees to comply with those obligations at his or her expense. Prior to consultant commencing services hereunder, the City’s Manager shall prepare and deliver to consultant a memorandum detailing the extent of Consultant’s disclosure obligations in accordance with the City’s Conflict of Interest Code.

City Initials ______
Consultant Initials ______

7.2 Disclosure not Required. By their initials next to this paragraph, City and Consultant hereby acknowledge that Consultant is not a “consultant” for the purpose of the California Political Reform Act because Consultant’s duties and responsibilities are not within the scope of the definition of consultant in Fair Political Practice Commission Regulation 18700.3(a) and is otherwise not serving in staff capacity in accordance with the City’s Conflict of Interest Code.

City Initials ______
Consultant Initials ______
This Agreement is executed on _______________, 2023, at Malibu, California, and effective as of [date].

CITY OF MALIBU:
___________________________________
BRUCE SILVERSTEIN, Mayor
ATTEST:
___________________________________
KELSEY PETTIJOHN, City Clerk
(seal)
CONSULTANT:
_______________________________
By:

APPROVED AS TO FORM:
___________________________________
TREVOR RUSIN, Interim City Attorney

Agenda Item # 3.B.8.

Council Agenda Report
To: Mayor Uhring and the Honorable Members of the City Council Prepared by: Nathaniel McLean, Assistant Civil Engineer Reviewed by: Rob Duboux, Public Works Director/City Engineer Approved by: Steve McClary, City Manager
Date prepared: October 23, 2023 Meeting date: November 13, 2023 Subject: Rejection of Bids for the Legacy Park Benches and Arbors Renovations Project
RECOMMENDED ACTION: 1) Reject all bids received for the Legacy Parks Benches and Arbors Renovations Project, Specification 2105 and 2) Direct staff to split up the project into two separate projects and rebid the bench renovations portion of the project.

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

Funding for the project was included in the Adopted Budget for FY 2023-24 in Account No. 310-91130-5100 (Legacy Park Benches and Arbors Renovations) in the amount of $150,000. This funding will not be sufficient to renovate both the existing wooden benches and the metal arbor structures at Legacy Park. However, these funds will be sufficient to renovate the wooden benches only. Additional funding will be requested at a later date for the renovation of the Legacy Park metal arbor structures.

STRATEGIC PRIORITY: This item is part of the day-to-day operations identified in the Adopted FY 2023-24 Strategic Priority Project List.

DISCUSSION: This project consists of renovating the existing 34 wooden park benches and the existing large and small arbors in Legacy Park. The park benches, constructed out of wood, require routine maintenance, including sanding and the application of a protective coating, to prevent further deterioration. The large and small arbors are constructed out of metal and are coated with a protective paint coating. These arbors were constructed 13 years ago and are showing signs of deterioration. This project was designed to renovate the wooden park benches and the metal arbor structures by sanding, City Council Meeting
11-13-23
Item

3.B.8.

Agenda Item # 3.B.8.
removing the rust on the metal arbors, and applying a new protective coating. This project will extend the useful life of these park amenities.

On September 12, 2023, the final project plans and specifications for the above-mentioned work was advertised for formal competitive bidding. Two (2) bids were received and opened on October 19, 2023, with the following results:

Contractor Bid Amount
3M Construction Corporation $188,681
Harbor Coating and Restoration $195,801
The total available funding for this project is $150,000, which includes project design, construction, and construction management costs. The apparent low bid amount from 3M Construction Corporation in the amount of $188,681 is approximately $38,681 over budget for this project.

Since the project bids exceeded the available budget, staff recommends that Council consider rejecting all bids. It is crucial to address the renovation of the existing wooden park benches at Legacy Park to halt further deterioration. While the metal arbor structures also show signs of wear, their renovation is not as time sensitive and can be delayed.

Staff can quickly rebid the Legacy Park wooden bench renovation project, ensuring that the necessary refurbishments proceed without delay. As for the refurbishment of the metal arbor structures, it is not as critical to complete. The refurbishment of the metal arbors structures can be developed into a separate project and rebid at a later date when additional funding becomes available.

Therefore, staff recommends rejecting all bids, splitting this project into two distinct projects, and rebid the Legacy Park wooden bench renovations.

ATTACHMENTS: None
City of Malibu
Memorandum

Agenda Item # 3.B.9.

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

The City’s portfolio is invested in the following categories:

Cash and Cash Equivalents 16.30%
U.S. Treasury 72.78%
U.S. Agencies 0.00%
Certificates of Deposit 10.91%
Investments month to month:

Investment
Issuer/Instrument Type
August 31, 2023 September 30, 2023
Amount
(in millions) Yield(A) %
Amount
(in millions) Yield(A) %
Operating Cash Cash $12.10 4.68% 11.89% $ 9.43 4.68% 9.47% LAIF Cash $ 2.04 3.52% 2.00% $ 2.04 3.50% 2.05%
CDs Investment $10.37 4.64% 10.19% $10.86 4.68% 10.91%
Treasury Bills Investment $10.08 5.12% 9.91% $10.13 5.12% 10.18% Treasury Notes Investment $62.41 4.20% 61.33% $62.31 4.20% 62.61% Money Market Cash $ 4.77 5.13% 4.68% $ 4.76 5.26% 4.79% Blended Yield 4.42% 4.43%
Total Duration(Years) 1.18 1.12
(A)Yield is based on Purchase Yield for Treasury Bills
2-Year U.S. Treasury Note Benchmark, as of September 30, 2023: 5.03% The fair market value of all investments as held by the City is $99,530,626 as of September 30, 2023.

ATTACHMENTS:

1. City of Malibu Portfolio Statement

2. City of Malibu Investment Portfolio Report
City Council Meeting
11-13-23
Item

3.B.9.

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

RUTH QUINTO
ACCOUNT NUMBER:

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

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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 Attachment #1 072 ANCA ANC9
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
Customer Householding
We make a reasonable effort to automatically link your accounts and those accounts of your eligible family members upon account opening into a Firm Household based on: (i) same last name and address; and (ii) social security number or Tax ID number. We aggregate the balances of your Firm Household to determine whether those accounts may qualify for certain fee waivers, pricing, features, and/or other benefits.

We may consider other accounts eligible to be in your household upon your request if account holders are married, are dependents (based on the IRS definition), or in certain other instances at our discretion. You are responsible for identifying accounts that should be linked for purposes of determining your Firm Household. An example may be that you or other eligible members of your family who reside at your home address have a different last name (such as your spouse) or different address/multiple addresses. If you have questions related to our Firm Householding policy, please contact your Financial Advisor.

Householding rules applicable to Individual Retirement Account and Education Savings Account (collectively IRAs): IRAs established under your social security number will be automatically included in your Firm Household. In addition, IRAs established for other eligible individuals at your physical address may be included in your Firm Household, subject to our householding rules. Please note that there are special tax rules regarding the use of IRAs in householding arrangements, which can restrict the householding of certain IRAs.

Please see IRS Publication 590-A: Contributions to Individual Retirement Arrangements (IRAs) and the section on Prohibited Transactions for more information. It is the responsibility of the IRA owner and not ours to consider whether it is appropriate to include an IRA in a particular Firm Household. If you determine an IRA has been linked to a Firm Household incorrectly, you must contact us to unlink the account.

Owner-only retirement plan accounts such as Keogh, or Individual 401(k) are not automatically included in your Firm Household. If you have an individual or owner-only retirement plan account and determine that it is eligible to be included in your Firm Household, you may request that the account be considered for your Firm Household, subject to our Firm Householding policy.

If you have questions related to our Firm Householding policy or what accounts are included in your household, please contact your Financial Advisor.

Consolidated reports: Benefits and limitations
Please note the information below does not apply to WellsTrade or Intuitive Investor accounts.

From time to time, financial advisors may provide you with reports that consolidate information regarding your various financial holdings. Such a report is referred to as a "consolidated report." These reports may combine assets and liabilities you have at Wells Fargo Advisors, other affiliated lines of business within Wells Fargo & Company, and other institutions where you told us you hold assets or liabilities. Financial advisors who provide consolidated reports to clients do so in order to offer clients an aggregated view of their full financial pictures. Having an understanding of your full financial picture is important, because it helps you and your financial advisor make investment decisions based on a complete understanding of your financial situation. An example of this might be a report depicting your total net worth. While consolidated reports provide a convenient way for you to view your financial assets all in one place, you should also be aware of potential limitations:
- Financial advisors rely solely on the accuracy of information provided by you with respect to assets or liabilities held elsewhere. - Changes in your external assets or liabilities will not be reflected unless you provide updated information to your financial advisor. - Your financial advisor relies solely on values and updates provided by you with respect to non-security-related assets or liabilities (e.g., real estate, jewelry, art collections, car collections, mortgage balances, etc.).
- Every attempt is made to accurately update the prices of securities you have told us you hold elsewhere; however, there may be cases when updating prices is not possible. - Consolidated reports may show your external investments, liabilities, or other business activities, including those not offered or approved by Wells Fargo Advisors. - Consolidated reports should never be used to replace statements you receive from the custodian(s) of your various assets or liabilities and should never be considered as your official record. You should always carefully review consolidated reports for accuracy and compare them to statements you receive from the custodian of the asset or liability you hold outside of Wells Fargo & Company.
- You should never rely solely on a consolidated report to make financial or other investment decisions.

News from Wells Fargo Advisors continued
- You should never share consolidated reports with other third party service providers or use them as a basis to seek or otherwise obtain other financial products or services.

Wells Fargo Advisors has policies and processes to review consolidated reports created by financial advisors but does not guarantee the completeness or accuracy of consolidated reports provided by your financial advisor. If you do not understand any information or if you believe there are any inaccuracies or discrepancies in a consolidated report provided to you, please contact your financial advisor or call the Client Contact Center at 1-877-879-2495.

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CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

Cash flow summary THIS PERIOD THIS YEAR
Opening value of cash and sweep balances $179,086.82
Income and distributions 497,094.07 958,203.35
Securities sold and redeemed 250,000.00 14,627,522.44
Electronic funds transfers 0.00 85,000,000.00
Other additions 0.00 7.00
Net additions to cash $747,094.07 $100,585,732.79
Securities purchased -770,161.87 -100,475,548.29
Net subtractions from cash -$770,161.87 -$100,475,548.29 Closing value of cash and sweep balances $156,019.02
Income summary * THIS PERIOD THIS YEAR
TAXABLE Money market/sweep funds 1,545.99 16,680.80
Interest 475,386.21 986,991.36
Ordinary dividends and ST capital gains 20,161.87 118,333.71 Total taxable income $497,094.07 $1,122,005.87
Total federally tax-exempt income $0.00 $0.00
Total income $497,094.07 $1,122,005.87
* 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) -479,977.43 0.00 0.00
Long term (L) -127,617.81 0.00 0.00
Total -$607,595.24 $0.00 $0.00

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CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 account number: Go paperless. Accessing your account documents online is easy, secure, and Brokerage Cash Services number: 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 6,850.00 Tax documents: X
Money market and sweep funds 149,169.02 Shareholder communications: X Available for loan 0.00 Other documents: X
Your total available funds $156,019.02

SNAPSHOT
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

Bond maturity schedule % OF
MATURING IN: AMOUNT MATURING CURRENT VALUE MATURING VALUE under 1 year 30,500,000.00 30,329,769.15 35.40
60,000,00 1 to 5 years 55,659,000.00 52,973,865.52 64.60 6 to 10 years 0.00 0.00 0.00
40,000,00 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
20,000,00 over 30 years 0.00 0.00 0.00
Total $86,159,000.00 $83,303,634.67 100.00%
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 0.00 -467,826.62 Gross proceeds 250,000.00 5,510,522.44 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 (%) Cash 0.01 6,850.00 0.00 N/A
ALLSPRING 0.17 149,169.02 7,309.00 4.90

GOVERNMENT MONEY MARKET
Interest Period 09/01/23 - 09/30/23
Total Cash and Sweep Balances 0.18 $156,019.02 $7,309.00 072 ANCA ANC9
Amount Maturing

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 ^
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 4.54 4,000,000 97.94 3,917,677.00 100.0000 4,000,000.00 82,323.00 27.32 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 5,065,830.60 65,304.39 Acquired 06/29/23 S nc 5,076,000 98.49 4,999,541.27 5,064,832.80 65,291.53 Total 11.50 10,153,000 $10,000,067.4 99.7800 $10,130,663.40 $130,595.92 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 4.97 4,422,000 98.53 4,357,419.53 99.0000 4,377,780.00 20,360.47 15,531.08 121,605 2.77

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 4.47 4,000,000 98.15 3,926,128.24 98.3630 3,934,520.00 8,391.76 232.24 85,000 2.16 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 2.500% DUE 04/30/24
DTD 04/30/22 FC 10/31/22
Moody AAA
CUSIP 91282CEK3
Acquired 05/18/23 S 1.12 1,000,000 97.93 979,328.56 98.3000 983,000.00 3,671.44 10,461.96 25,000 2.54

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 4.33 4,000,000 95.07 3,802,819.52 95.2920 3,811,680.00 8,860.48 659.34 15,000 0.39

US TREASURY
NOTES
CPN 1.500% DUE 02/15/25
DTD 02/15/22 FC 08/15/22
Moody AAA
CUSIP 91282CDZ1
Acquired 08/09/23 S 5.63 5,215,000 95.21 4,965,249.23 94.9920 4,953,832.80 -11,416.43 9,990.70 78,225 1.57

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 4,000,000 96.35 3,854,194.52 3,803,720.00 -50,474.52 Acquired 08/10/23 S 5,330,000 95.31 5,080,154.94 5,068,456.90 -11,698.04 Total 10.07 9,330,000 $95.75 $8,934,349.46 95.0930 $8,872,176.90 -$62,172.56 $7,176.93 $163,275 1.84

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 4,000,000 99.85 3,994,132.00 3,882,800.00 -111,332.00 Acquired 08/09/23 S 15,120,000 97.78 14,785,075.41 14,676,984.00 -108,091.41 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 (%) Total 21.07 19,120,000 $18,779,207.4 97.0700 $18,559,784.00 -$219,423.41 $29,415.38 $669,200 3.61 $98.21 1

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 4.26 4,000,000 96.38 3,855,382.00 93.8430 3,753,720.00 -101,662.00 245.90 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 4.04 4,000,000 91.07 3,643,007.00 89.0500 3,562,000.00 -81,007.00 2,554.95 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 4.22 4,000,000 96.45 3,858,132.00 92.8860 3,715,440.00 -142,692.00 273.22 100,000 2.69

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 2.03 1,894,000 98.59 1,867,461.42 94.3780 1,787,519.32 -79,942.10 5,040.69 59,188 3.31 Total Government Bonds 82.26 75,134,000 $72,886,228.8 $72,442,116.42 -$444,112.43 $81,609.71 $1,446,493 2.00 5 ^ 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
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 (%) 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 0.28 250,000 100.00 250,000.00 99.9420 249,855.00 -145.00 4,585.61 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 0.28 250,000 100.00 250,000.00 99.9420 249,855.00 -145.00 4,585.61 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 0.28 250,000 100.00 250,000.00 99.9200 249,800.00 -200.00 4,452.06 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 0.28 250,000 100.00 250,000.00 99.9300 249,825.00 -175.00 4,471.23 12,750 5.10 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 0.28 250,000 100.00 250,000.00 99.9380 249,845.00 -155.00 4,515.07 12,875 5.15 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 (%)

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 0.28 250,000 100.00 250,000.00 99.9350 249,837.50 -162.50 4,373.97 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 0.28 250,000 100.00 250,000.00 99.6350 249,087.50 -912.50 2,844.87 8,875 3.56

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 0.28 250,000 100.00 250,000.00 99.9150 249,787.50 -212.50 6,868.15 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 0.28 250,000 100.00 250,000.00 99.8600 249,650.00 -350.00 308.22 12,500 5.00

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 0.28 250,000 100.00 250,000.00 99.6620 249,155.00 -845.00 7,190.06 11,875 4.76 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 (%)

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 0.28 250,000 100.00 250,000.00 99.8770 249,692.50 -307.50 4,638.70 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 0.28 250,000 100.00 250,000.00 99.8530 249,632.50 -367.50 4,309.59 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 0.28 250,000 100.00 250,000.00 99.8380 249,595.00 -405.00 7,119.86 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 0.28 250,000 100.00 250,000.00 99.8350 249,587.50 -412.50 7,011.99 13,125 5.25

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 0.28 250,000 100.00 250,000.00 99.9020 249,755.00 -245.00 7,138.36 13,500 5.40 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 (%)

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 0.28 250,000 100.00 250,000.00 99.8570 249,642.50 -357.50 7,006.16 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 0.28 250,000 100.00 250,000.00 99.7880 249,470.00 -530.00 6,807.87 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 0.28 250,000 100.00 250,000.00 99.8570 249,642.50 -357.50 7,006.16 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 0.28 250,000 100.00 250,000.00 99.8090 249,522.50 -477.50 513.01 13,375 5.36

HEARTLAND BANK & TR CD
BLOOMINGTON IL ACT/365

FDIC INSD
CPN 5.450% DUE 04/29/24
DTD 09/27/23 FC 04/29/24
CUSIP 42234FDP8
Acquired 09/20/23 S nc 0.28 250,000 100.00 250,000.00 99.9680 249,920.00 -80.00 149.32 13,625 5.45 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 0.28 250,000 100.00 250,000.00 99.6890 249,222.50 -777.50 4,656.16 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 0.28 250,000 100.00 250,000.00 99.5940 248,985.00 -1,015.00 4,452.06 12,500 5.02

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 0.06 50,000 100.00 50,000.00 99.6540 49,827.00 -173.00 908.22 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 0.28 250,000 100.00 250,000.00 99.6850 249,212.50 -787.50 4,585.61 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 0.28 250,000 100.00 250,000.00 99.6540 249,135.00 -865.00 4,541.09 12,750 5.11 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 0.28 250,000 100.00 250,001.06 97.8300 244,575.00 -5,426.06 1,780.82 6,250 2.55 100.00 250,007.00

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 0.28 250,000 100.00 250,000.00 99.8280 249,570.00 -430.00 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 0.14 125,000 100.00 125,000.00 97.7430 122,178.75 -2,821.25 34.25 3,125 2.55

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 0.28 250,000 100.00 250,000.00 99.1770 247,942.50 -2,057.50 1,480.82 11,750 4.73

MORGAN STANLEY BK NA CD
SOUTH JORDAN UT ACT/365

FDIC INSD
CPN 5.500% DUE 09/26/24
DTD 09/27/23 FC 09/26/24
CUSIP 61690DEM6
Acquired 09/20/23 S nc 0.28 250,000 100.00 250,000.00 99.8100 249,525.00 -475.00 150.68 13,750 5.51 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 OF BARODA CD
NEW YORK NY ACT/365

FDIC INSD
CPN 5.500% DUE 09/27/24
DTD 09/28/23 FC 09/27/24
CUSIP 06063HRH8
Acquired 09/20/23 S nc 0.28 250,000 100.00 250,000.00 99.8090 249,522.50 -477.50 113.01 13,750 5.51

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 0.28 250,000 100.00 250,000.00 99.5670 248,917.50 -1,082.50 35.96 13,125 5.27

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 0.28 250,000 100.00 250,000.00 99.2920 248,230.00 -1,770.00 4,427.40 12,625 5.08

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 0.28 250,000 100.00 250,000.00 99.1040 247,760.00 -2,240.00 3,893.15 12,250 4.94

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 0.22 200,000 100.00 200,000.00 94.9280 189,856.00 -10,144.00 89.86 4,100 2.15 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 (%)

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 0.28 250,000 100.00 250,000.00 99.4450 248,612.50 -1,387.50 287.67 13,125 5.27

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 0.28 250,000 100.00 250,000.00 98.8640 247,160.00 -2,840.00 268.49 12,250 4.95

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 0.28 250,000 100.00 250,000.00 98.7840 246,960.00 -3,040.00 4,318.49 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 0.28 250,000 100.00 250,000.00 99.1050 247,762.50 -2,237.50 489.04 12,750 5.14

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 0.28 250,000 100.00 250,000.00 98.7830 246,957.50 -3,042.50 4,102.39 12,375 5.01 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 (%)

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 0.21 200,000 100.00 200,000.00 91.9130 183,826.00 -16,174.00 142.47 4,000 2.17

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 0.28 250,000 100.00 250,000.00 98.8740 247,185.00 -2,815.00 239.73 12,500 5.05

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 10/29/23 @ 100.000
CUSIP 88241TMC1
Acquired 10/22/21 L 0.25 250,000 100.00 250,000.00 87.8660 219,665.00 -30,335.00 15.06 2,750 1.25

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 0.22 200,000 100.00 200,000.00 98.7890 197,578.00 -2,422.00 3,770.13 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 0.25 250,000 100.00 250,000.00 87.6630 219,157.50 -30,842.50 181.17 2,875 1.31 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 0.25 250,000 100.00 250,000.00 87.6150 219,037.50 -30,962.50 54.80 5,000 2.28 Total Certificates of Deposit 12.33 11,025,000 $11,025,001.0 $10,861,518.25 -$163,482.81 $144,615.42 $512,675 4.72 6 $11,025,007.0
0 Total Fixed Income Securities 94.59 $83,911,229.9 $83,303,634.67 -$607,595.24 $226,225.13 $1,959,168 2.35 1 $83,911,235.8
5 ^ Denotes Certificate of Deposit 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
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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 97,250.46000 1.00 97,250.46 97,250.46 0.00 Total 5.23 4,607,772.90000 $1.00 $4,607,772.90 1.0000 $4,607,772.90 $0.00 $242,830 5.27 Client Investment (Excluding Reinvestments) $4,510,522.44 Gain/Loss on Client Investment (Including Reinvestments) $97,250.46 Total Open End Mutual Funds 5.23 $4,607,772.90 $4,607,772.90 $0.00 $242,830 5.27 Total Mutual Funds 5.23 $4,607,772.90 $4,607,772.90 $0.00 $242,830 5.27 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 09/01 Cash DIVIDEND FIDELITY FUNDS 20,161.87

FIDELITY TREASURY ONLY

PORT INSTL CLASS SHS
083123 4,587,611.03000
AS OF 8/31/23
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

Activity detail continued
Income and distributions

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 09/08 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
090823 250,000
CUSIP 90348JX96
09/15 Cash INTEREST US TREASURY 334,600.00
NOTES
CPN 3.500% DUE 09/15/25
DTD 09/15/22 FC 03/15/23
091523 19,120,000
CUSIP 91282CFK2
09/15 Cash INTEREST US TREASURY 81,637.50
NOTES
CPN 1.750% DUE 03/15/25
DTD 03/15/22 FC 09/15/22
091523 9,330,000
CUSIP 91282CED9
09/15 Cash INTEREST US TREASURY 7,500.00
NOTES
CPN 0.375% DUE 09/15/24
DTD 09/15/21 FC 03/15/22
091523 4,000,000
CUSIP 91282CCX7
09/18 Cash INTEREST BMW BK N AMERICA CD 6,427.40
SALT LAKE CTY UT ACT/365

FDIC INSD
CPN 5.100% DUE 09/17/25
DTD 03/17/23 FC 09/17/23
091723 250,000
AS OF 9/17/23
CUSIP 05580AX58
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

Activity detail continued
Income and distributions

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 09/18 Cash INTEREST CHARLES SCHWAB BK SSB CD 6,742.47
RENO NV ACT/365

FDIC INSD
CPN 5.350% DUE 03/22/24
DTD 03/17/23 FC 09/17/23
091723 250,000
AS OF 9/17/23
CUSIP 15987UAU2
09/18 Cash INTEREST VALLEY NATL BK WAYNE CD 6,525.68
WAYNE NJ ACT/365

FDIC INSD
CPN 5.150% DUE 09/18/23
DTD 03/17/23 FC 09/18/23
091823 250,000
CUSIP 919853HV6
09/18 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
091823 200,000
CUSIP 99000QQW7
09/22 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
092223 250,000
CUSIP 06418CHC3
09/22 Cash INTEREST FULTON BANK CD 6,742.47
WILLIAMSPORT PA ACT/365

FDIC INSD
CPN 5.350% DUE 06/24/24
DTD 03/22/23 FC 09/22/23
092223 250,000
CUSIP 359899AN1
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

Activity detail continued
Income and distributions

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 09/25 Cash INTEREST AMERICAN EXPR NATL BK CD 2,066.85
SALT LAKE CTY UT ACT/365

FDIC INSD
CPN 2.050% DUE 03/24/25
DTD 03/23/22 FC 09/23/22
092323 200,000
AS OF 9/23/23
CUSIP 02589ABV3
09/25 Cash INTEREST SYNCHRONY BANK CD 6,301.37
DRAPER UT ACT/365

FDIC INSD
CPN 5.000% DUE 03/24/26
DTD 03/24/23 FC 09/24/23
092423 250,000
AS OF 9/24/23
CUSIP 87165HX21
09/25 Cash INTEREST ALLY BANK CD 6,616.44
BENSALEM PA ACT/365

FDIC INSD
CPN 5.250% DUE 03/24/25
DTD 03/23/23 FC 09/23/23
092323 250,000
AS OF 9/23/23
CUSIP 02007GM34
09/25 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
092323 250,000
AS OF 9/23/23
CUSIP 949764CT9
09/27 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
092723 250,000
CUSIP 15118RTH0
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

Activity detail continued
Income and distributions

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 09/27 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
092723 125,000
CUSIP 20033AZ58
09/29 Cash INTEREST COMERICA BANK TEXAS CD 6,616.44
DALLAS TX ACT/365

FDIC INSD
CPN 5.250% DUE 09/30/24
DTD 03/30/23 FC 09/30/23
093023 250,000
AS OF 9/30/23
CUSIP 200339FB0
09/29 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
092923 250,000
CUSIP 88241TMC1
09/29 Cash DIVIDEND ALLSPRING 1,545.99

GOVERNMENT MONEY MARKET

SWEEP CLASS
092923 147,623
Total Income and distributions: $497,094.07
Securities sold and redeemed

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 09/18 Cash REDEMPTION -250,000.00000 VALLEY NATL BK WAYNE CD 250,000.00 WAYNE NJ ACT/365

FDIC INSD
CPN 5.150% DUE 09/18/23
DTD 03/17/23 FC 09/18/23
CUSIP 919853HV6
Total Securities sold and redeemed: $250,000.00
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

Activity detail continued
Securities purchased

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 09/01 Cash REINVEST DIV 20,161.87000 FIDELITY FUNDS -20,161.87

FIDELITY TREASURY ONLY

PORT INSTL CLASS SHS
REINVEST AT 1.000
09/20 Cash PURCHASE 250,000.00000 BANK OF BARODA CD 100.0000 -250,000.00 NEW YORK NY ACT/365

FDIC INSD
CPN 5.500% DUE 09/27/24
DTD 09/28/23 FC 09/27/24
CUSIP 06063HRH8
09/20 Cash PURCHASE 250,000.00000 HEARTLAND BANK & TR CD 100.0000 -250,000.00 BLOOMINGTON IL ACT/365

FDIC INSD
CPN 5.450% DUE 04/29/24
DTD 09/27/23 FC 04/29/24
CUSIP 42234FDP8
09/20 Cash PURCHASE 250,000.00000 MORGAN STANLEY BK NA CD 100.0000 -250,000.00 SOUTH JORDAN UT ACT/365

FDIC INSD
CPN 5.500% DUE 09/26/24
DTD 09/27/23 FC 09/26/24
CUSIP 61690DEM6
Total Securities purchased: -$770,161.87
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 09/01 BEGINNING BALANCE 134,493.07 09/19 TRANSFER TO ALLSPRING 270,035.28

GOVERNMENT MONEY MARKET
09/01 TRANSFER TO ALLSPRING 44,593.75 09/25 TRANSFER TO ALLSPRING 7,804.11

GOVERNMENT MONEY MARKET GOVERNMENT MONEY MARKET
09/11 TRANSFER TO ALLSPRING 244.18 09/26 TRANSFER TO ALLSPRING 16,025.07

GOVERNMENT MONEY MARKET GOVERNMENT MONEY MARKET
09/18 TRANSFER TO ALLSPRING 423,737.50 09/27 TRANSFER FROM ALLSPRING -500,000.00

GOVERNMENT MONEY MARKET GOVERNMENT MONEY MARKET
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

Cash sweep activity continued

DATE TRANSACTION DESCRIPTION AMOUNT DATE TRANSACTION DESCRIPTION AMOUNT 09/28 TRANSFER FROM ALLSPRING -249,309.93 09/30 ENDING BALANCE 149,169.02

GOVERNMENT MONEY MARKET
09/29 REINVEST DIV ALLSPRING 1,545.99

GOVERNMENT MONEY MARKET
Bank Deposits Through Teller September 1 - September 30 Wells Fargo Bank, N.A. (Member FDIC) Account number 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
09/01 BEGINNING BALANCE $0.00
09/30 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. 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
SEPTEMBER 1, 2023 - SEPTEMBER 30, 2023
ACCOUNT NUMBER:

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.

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
*** THIS PAGE IS INTENTIONALLY LEFT BLANK ***
September 30, 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
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. Page 1 of 39 Attachment #2
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
09/30/2023 © 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 9/29/2023
09/30/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 3 of 39 Portfolio Reports City of Malibu
Portfolio Summary
By: Security Sub Type
Bond (94.59%)
Fund (5.23%)
Cash Alternative (0.18%)
Total
$ %
Bond 83,303,635 94.6%
CITY OF MALIBU (XXXX7847) 83,303,635 94.6%
Fund 4,607,773 5.2%
CITY OF MALIBU (XXXX7847) 4,607,773 5.2%
Cash Alternative 156,019 0.2%
CITY OF MALIBU (XXXX7847) 156,019 0.2%
Portfolio Summary Total 88,067,427 100.0%
Total Portfolio Value as of 09/29/23:__$ 88,067,427
This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 09/30/2023 © 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 (94.59%)
Fund (5.23%)
Cash Alternative (0.18%)
Total
ID Description Quantity Price $ %
Bond 83,303,635 94.6%
CITY OF MALIBU (XXXX7847) 83,303,635 94.6%
02007GM34 ALLY BANK 5.25% 032425 250,000 99.45 248,613 0.3% 02589ABV3 AMERICAN 2.05% 032425 200,000 94.93 189,856 0.2% 02589AET5 AMERICAN E 5.1% 052324 50,000 99.65 49,827 0.1% 045491NU7 ASSOCIATE 5.15% 052124 250,000 99.69 249,223 0.3% 05961SQX5 BANC CALIF NA 5.1%112723 250,000 99.93 249,825 0.3% 06251A5N6 BANK HAPO 5.05% 112624 250,000 99.29 248,230 0.3% 062683HE0 BANK HOPE 5.25% 122623 250,000 99.92 249,788 0.3% 06051VT89 BANK OF A 5.15% 052324 250,000 99.69 249,213 0.3% 06063HRH8 BANK OF BA 5.5% 092724 250,000 99.81 249,523 0.3% 06428FH26 BANK OF C 5.15% 112423 250,000 99.94 249,855 0.3% 06418CHC3 BANK OZK 5% 012224 250,000 99.86 249,650 0.3% 06740KRN9 BARCLAYS B 5.4% 032124 250,000 99.90 249,755 0.3% 07371DRD1 BEAL BANK 4.75% 022124 250,000 99.66 249,155 0.3% 05600XQK9 BMO HARRI 4.85% 052725 250,000 98.78 246,960 0.3% 05580AX58 BMW BK N A 5.1% 091725 250,000 99.11 247,763 0.3% 10421AAB3 BRADESCO B 5.2% 030424 250,000 99.85 249,633 0.3% 14042RLZ2 CAPITAL ONE 2.5% 061924 250,000 97.83 244,575 0.3% 15118RTH0 CELTIC BANK 2% 122727 250,000 87.62 219,038 0.2% 15987UAU2 CHARLES S 5.35% 032224 250,000 99.81 249,523 0.3% 75524KQH0 CITIZENS B 5.3% 032124 250,000 99.86 249,643 0.3% 09/30/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 5 of 39 Portfolio Reports City of Malibu
Total
ID Description Quantity Price $ %
99000QQW7 COMENITY BANK 2% 031826 200,000 91.91 183,826 0.2% 20033AZ58 COMENITY C 2.5% 062724 125,000 97.74 122,179 0.1% 200339FB0 COMERICA 5.25% 093024 250,000 99.57 248,918 0.3% 23204HNC8 CUSTOMERS 4.7% 081624 250,000 99.18 247,943 0.3% 254673Z66 DISCOVER 4.95% 111626 200,000 98.79 197,578 0.2% 337158AV1 FIRST HOR 5.15% 112423 250,000 99.94 249,855 0.3% 359899AN1 FULTON BA 5.35% 062424 250,000 99.83 249,570 0.3% 38150VHQ5 GOLDMAN SACH 5% 052224 250,000 99.59 248,985 0.3% 41024LBS7 HANCOCK W 5.25% 022624 250,000 99.88 249,693 0.3% 42234FDP8 HEARTLAND 5.45% 042924 250,000 99.97 249,920 0.3% 564759RJ9 MANUF & TR 4.9% 120924 250,000 99.10 247,760 0.3% 60685BQB0 MIZRAHI T 5.15% 113023 250,000 99.94 249,838 0.3% 60700PB26 MIZUHO BK 5.0% 112423 250,000 99.92 249,800 0.3% 61760ASZ3 MORGAN ST 3.55% 120623 250,000 99.64 249,088 0.3% 61690DEM6 MORGAN STA 5.5% 092624 250,000 99.81 249,525 0.3% 67523TCE1 OCEANFIRS 5.15% 032124 250,000 99.79 249,470 0.3% 759701BH7 RENASANT B 5.3% 032124 250,000 99.86 249,643 0.3% 80280JVQ1 SANTANDER 5.25% 031524 250,000 99.84 249,595 0.3% 856285V81 STATE BAN 4.95% 120225 250,000 98.78 246,958 0.3% 87165HX21 SYNCHRONY BA 5% 032426 250,000 98.87 247,185 0.3% 88241TMC1 TEXAS EXC 1.10% 102926 250,000 87.87 219,665 0.2% 898401DA9 TRUSTMARK BK 5.15%112723 250,000 99.94 249,845 0.3% 90348JX96 UBS BANK 1.15% 120826 250,000 87.66 219,158 0.2% 90354KBV9 US BANK NA 5.1% 052324 250,000 99.65 249,135 0.3% 912797HB6 UST BILL 0.0 101723 10,153,000 99.78 10,130,663 11.5% 91282CFK2 UST NTS 3.5 091525 19,120,000 97.07 18,559,784 21.1% 91282CDA6 UST NTS .25% 093023 4,000,000 100.00 4,000,000 4.5% 91282CCW9 UST NTS .75% 083126 4,000,000 89.05 3,562,000 4.0% 91282CEF4 UST NTS 2.5% 033127 4,000,000 92.89 3,715,440 4.2% 91282CEK3 UST NTS 2.5% 043024 1,000,000 98.30 983,000 1.1% 91282CCX7 UST NTS .375% 091524 4,000,000 95.29 3,811,680 4.3% 912828B66 UST NTS 2.75% 021524 4,422,000 99.00 4,377,780 5.0% 91282CDZ1 UST NTS 1.5% 021525 5,215,000 94.99 4,953,833 5.6% 91282CED9 UST NTS 1.75% 031525 9,330,000 95.09 8,872,177 10.1% 912828W71 UST NTS 2.125% 033124 4,000,000 98.36 3,934,520 4.5% 9128286L9 UST NTS 2.25% 033126 4,000,000 93.84 3,753,720 4.3% 91282CFH9 UST NTS 3.125% 083127 1,894,000 94.38 1,787,519 2.0% 947547US2 WEBBANK 5.25% 031924 250,000 99.84 249,588 0.3% 949764CT9 WELLS FARG 4.9% 052325 250,000 98.86 247,160 0.3% Fund 4,607,773 5.2%
CITY OF MALIBU (XXXX7847) 4,607,773 5.2%
FRSXX FIDELITY TREAS INSTL 4,607,773 1.00 4,607,773 5.2% 09/30/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 6 of 39 Portfolio Reports City of Malibu
Total
ID Description Quantity Price $ %
Cash Alternative 156,019 0.2%
CITY OF MALIBU (XXXX7847) 156,019 0.2%
- Cash Alternative 156,019 1.00 156,019 0.2%
Portfolio Summary Total 88,067,427 100.0%
Total Portfolio Value as of 09/29/23:__$ 88,067,427
This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 09/30/2023 © 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
0 100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
Est Income($)
Oct
2023
Nov
2023
Dec
2023
Jan
2024
Feb
2024
Mar
2024
Apr
2024
May
2024
Jun
2024
Jul
2024
Aug
2024
Sep
2024
Month
Tax Exempt Accounts Unassigned
Sec
Oct 2023 Nov 2023 Dec 2023 Jan 2024 Feb 2024 Mar 2024 Apr 2024 May 2024 Jun 2024 Jul 2024 Aug 2024 Sep 2024 Estimated
Income
Annualzd($)
Tax Exempt
Accounts 60 36,229 80,075 53,620 23,845 195,005 713,878 43,310 93,497 38,264 22,445 112,084 596,748 2,008,998 Taxable 47 23,729 80,075 53,620 23,845 50,496 152,640 30,810 93,497 38,264 22,445 28,377 78,011 675,808 Corporate
Bond 46 3,493 59,839 33,384 3,610 30,260 132,405 10,574 73,261 18,028 2,209 8,142 57,775 432,978 Money Market
Fund 1 20,236 20,236 20,236 20,236 20,236 20,236 20,236 20,236 20,236 20,236 20,236 20,236 242,830 Federal 13 12,500 144,509 561,238 12,500 83,706 518,738 1,333,190 Government
Bond 13 12,500 144,509 561,238 12,500 83,706 518,738 1,333,190 09/30/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 8 of 39 Portfolio Reports City of Malibu
Sec
Oct 2023 Nov 2023 Dec 2023 Jan 2024 Feb 2024 Mar 2024 Apr 2024 May 2024 Jun 2024 Jul 2024 Aug 2024 Sep 2024 Estimated
Income
Annualzd($)
Unassigned 1 0
Not Available 1 0
Cash
Alternative 1 0
Portfolio
Estimated Income
Total
61 36,229 80,075 53,620 23,845 195,005 713,878 43,310 93,497 38,264 22,445 112,084 596,748 2,008,998 Total Portfolio Value as of 09/29/23:__$ 88,067,427
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. 09/30/2023 © 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($) % Fxd Inc
Government Bond 62,311,453 85.2%
Corporate Bond 10,861,518 14.8%
Security Sub Type Total 73,172,971 100.0%
Composite Ratings % Fxd Inc
Treasury 85.2%
CDs 13.8%
Agency
AAA
AA
A
BBB
Below Inv Grade
N/A 1.0%
Total 100.0%
Month Estimated Income Annualized($)
Oct 2023 15,993
Nov 2023 59,839
Dec 2023 33,384
Jan 2024 3,610
Feb 2024 174,769
Mar 2024 693,642
Apr 2024 23,074
May 2024 73,261
Jun 2024 18,028
Jul 2024 2,209
Aug 2024 91,848
Sep 2024 576,512
Total 1,766,168
Taxable 1,766,168
Tax Exempt
Subject to AMT
Bond Statistics
Statistic Taxable Tax Exempt
Coupon 2.598%
Yield to Worst 5.06%
Yield at Purchase 4.26%
Total Duration: 1.6
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. 09/30/2023 © 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. 09/30/2023 © 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 09/29/23 : $ 88,067,427 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 250,000 219,665
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 72,953,306
Total 250,000 73,172,971
09/30/2023 © 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 2.598% 73,172,971 1.6 1.6
-738,191 5.06% 0.0 87.8%

4.26% 5.06% 83.1%
Treasury Note 2.234% 62,311,453 1.6 1.4
-574,708 5.00% 0.0 74.8%

4.20% 5.00% 70.8%
-
4,000,000 US TREASURY AAA 0.250% 09/30/23 M 100.00 4,000,000 99.59 0.1 0.0 NOTES Fixed 97.94 82,323 5.44%M 0.0 4.8%
91282CDA6 97.94 4.14% 5.44% 4.5%
4,422,000 US TREASURY AAA 2.750% 02/15/24 M 99.00 4,377,780 98.80 0.4 0.0 NOTES Fixed 98.54 20,360 5.46%M 0.0 5.3%
912828B66 98.54 5.06% 5.46% 5.0%
4,000,000 US TREASURY AAA 2.125% 03/31/24 M 98.36 3,934,520 98.12 0.6 0.0 NOTES Fixed 98.15 8,392 5.46%M 0.0 4.7%
912828W71 98.15 3.95% 5.46% 4.5%
1,000,000 US TREASURY AAA 2.500% 04/30/24 M 98.30 983,000 98.11 0.6 0.0 NOTES Fixed 97.93 3,671 5.43%M 0.0 1.2%
91282CEK3 97.93 4.75% 5.43% 1.1%
4,000,000 US TREASURY AAA 0.375% 09/15/24 M 95.29 3,811,680 95.01 1.0 0.1 NOTES Fixed 95.07 8,860 5.38%M 0.0 4.6%
91282CCX7 95.07 3.79% 5.38% 4.3%
5,215,000 US TREASURY AAA 1.500% 02/15/25 M 94.99 4,953,833 94.95 1.4 0.1 NOTES Fixed 95.21 -11,416 5.15%M 0.0 5.9%
91282CDZ1 95.21 4.82% 5.15% 5.6%
4,000,000 US TREASURY AAA 1.750% 03/15/25 M 95.09 3,803,720 95.11 1.5 0.1 NOTES Fixed 96.35 -50,475 5.10%M 0.0 4.6%
91282CED9 96.35 3.66% 5.10% 4.3%
5,330,000 US TREASURY AAA 1.750% 03/15/25 M 95.09 5,068,457 95.11 1.5 0.1 NOTES Fixed 95.31 -11,698 5.10%M 0.0 6.1%
91282CED9 95.31 4.84% 5.10% 5.8%
4,000,000 US TREASURY AAA 3.500% 09/15/25 M 97.07 3,882,800 97.40 1.9 0.1 NOTES Fixed 99.85 -111,332 4.86%M 0.0 4.7%
91282CFK2 99.85 3.56% 4.86% 4.4%
09/30/2023 © 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 15,120,000 US TREASURY AAA 3.500% 09/15/25 M 97.07 14,676,984 97.40 1.9 0.4 NOTES Fixed 97.78 -108,091 4.86%M 0.0 17.6%
91282CFK2 97.78 4.62% 4.86% 16.7%
4,000,000 US TREASURY AAA 2.250% 03/31/26 M 93.84 3,753,720 94.29 2.4 0.1 NOTES Fixed 96.38 -101,662 4.63%M 0.1 4.5%
9128286L9 96.38 3.51% 4.63% 4.3%
4,000,000 US TREASURY AAA 0.750% 08/31/26 M 89.05 3,562,000 89.53 2.9 0.1 NOTES Fixed 91.08 -81,007 4.53%M 0.1 4.3%
91282CCW9 91.08 3.52% 4.53% 4.0%
4,000,000 US TREASURY AAA 2.500% 03/31/27 M 92.89 3,715,440 93.70 3.3 0.2 NOTES Fixed 96.45 -142,692 4.42%M 0.1 4.5%
91282CEF4 96.45 3.45% 4.42% 4.2%
1,894,000 US TREASURY AAA 3.125% 08/31/27 M 94.38 1,787,519 95.42 3.7 0.1 NOTES Fixed 98.60 -79,942 4.39%M 0.2 2.1%
91282CFH9 98.60 3.47% 4.39% 2.0%
Certificates of Deposit 4.684% 10,861,518 1.0 0.2
-163,483 5.45% 0.0 13.0%

4.63% 5.45% 12.3%
-
250,000 BANK OF CHINA/NEW YOR
CD 5.150% 11/24/23 M 99.94 249,855 99.95 0.2 0.0
NEW YORK NY ACT/365 Fixed 100.00 -145 5.32%M 0.0 0.3%
06428FH26 FDIC 100.00 5.15% 5.32% 0.3%
250,000 FIRST HORIZON BANK CD 5.150% 11/24/23 M 99.94 249,855 99.95 0.2 0.0 MEMPHIS TN ACT/365 Fixed 100.00 -145 5.32%M 0.0 0.3%
337158AV1 FDIC 100.00 5.15% 5.32% 0.3%
250,000 MIZUHO BANK USA CD 5.000% 11/24/23 M 99.92 249,800 99.91 0.2 0.0 NEW YORK NY ACT/365 Fixed 100.00 -200 5.34%M 0.0 0.3%
60700PB26 FDIC 100.00 5.00% 5.34% 0.3%
250,000 BANC CALIF NA CD 5.100% 11/27/23 M 99.93 249,825 99.93 0.2 0.0 IRVINE CA ACT/365 Fixed 100.00 -175 5.34%M 0.0 0.3%
05961SQX5 FDIC 100.00 5.10% 5.34% 0.3%
250,000 TRUSTMARK NATL BK CD 5.150% 11/27/23 M 99.94 249,845 99.94 0.2 0.0 JACKSON MISS ACT/365 Fixed 100.00 -155 5.34%M 0.0 0.3%
898401DA9 FDIC 100.00 5.15% 5.34% 0.3%
250,000 MIZRAHI TEFAHOT BANK/
CD 5.150% 11/30/23 M 99.94 249,838 99.94 0.2 0.0
LOS ANGELES CA ACT/365 Fixed 100.00 -163 5.35%M 0.0 0.3% 60685BQB0 FDIC 100.00 5.15% 5.35% 0.3%
09/30/2023 © 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 MORGAN STANLEY PVT BK
CD 3.550% 12/06/23 M 99.64 249,088 99.51 0.2 0.0
PURCHASE NY ACT/365 Fixed 100.00 -913 5.47%M 0.0 0.3%
61760ASZ3 FDIC 100.00 3.55% 5.47% 0.3%
250,000 BANK HOPE CD 5.250% 12/26/23 M 99.92 249,788 99.92 0.3 0.0 LOS ANGELES CA ACT/365 Fixed 100.00 -213 5.38%M 0.0 0.3% 062683HE0 FDIC 100.00 5.25% 5.38% 0.3%
250,000 BANK OZK CD 5.000% 01/22/24 M 99.86 249,650 99.84 0.4 0.0 LITTLE ROCK AR ACT/365 Fixed 100.00 -350 5.42%M 0.0 0.3% 06418CHC3 FDIC 100.00 5.00% 5.42% 0.3%
250,000 BEAL BANK USA CD 4.750% 02/21/24 M 99.66 249,155 99.61 0.5 0.0 LAS VEGAS NV ACT/365 Fixed 100.00 -845 5.48%M 0.0 0.3%
07371DRD1 FDIC 100.00 4.75% 5.48% 0.3%
250,000 HANCOCK WHITNEY BANK
CD 5.250% 02/26/24 M 99.88 249,693 99.87 0.5 0.0
GULFPORT MS ACT/365 Fixed 100.00 -308 5.46%M 0.0 0.3%
41024LBS7 FDIC 100.00 5.25% 5.46% 0.3%
250,000 BRADESCO BANK CD 5.200% 03/04/24 M 99.85 249,633 99.84 0.5 0.0 CORAL GABLES FL ACT/365 Fixed 100.00 -368 5.46%M 0.0 0.3% 10421AAB3 FDIC 100.00 5.20% 5.46% 0.3%
250,000 SANTANDER BANK NA CD 5.250% 03/15/24 M 99.84 249,595 99.82 0.5 0.0 WILMINGTON DE ACT/365 Fixed 100.00 -405 5.47%M 0.0 0.3% 80280JVQ1 FDIC 100.00 5.25% 5.47% 0.3%
250,000 WEBBANK CD 5.250% 03/19/24 M 99.84 249,588 99.82 0.5 0.0 SALT LAKE CITY UTACT/365 Fixed 100.00 -413 5.47%M 0.0 0.3% 947547US2 FDIC 100.00 5.25% 5.47% 0.3%
250,000 BARCLAYS BANK/DELAWAR
CD 5.400% 03/21/24 M 99.90 249,755 99.90 0.5 0.0
WILMINGTON DE ACT/365 Fixed 100.00 -245 5.46%M 0.0 0.3% 06740KRN9 FDIC 100.00 5.40% 5.46% 0.3%
250,000 CITIZENS BANK NA/RI CD 5.300% 03/21/24 M 99.86 249,643 99.84 0.5 0.0 PROVIDENCE RI ACT/365 Fixed 100.00 -358 5.47%M 0.0 0.3% 75524KQH0 FDIC 100.00 5.30% 5.47% 0.3%
250,000 OCEANFIRST BANK NA CD 5.150% 03/21/24 M 99.79 249,470 99.76 0.5 0.0 TOMS RIVER NJ ACT/365 Fixed 100.00 -530 5.47%M 0.0 0.3% 67523TCE1 FDIC 100.00 5.15% 5.47% 0.3%
250,000 RENASANT BK TUPELO MS
CD 5.300% 03/21/24 M 99.86 249,643 99.84 0.5 0.0
TUPELO MS ACT/365 Fixed 100.00 -358 5.47%M 0.0 0.3%
759701BH7 FDIC 100.00 5.30% 5.47% 0.3%
09/30/2023 © 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 CHARLES SCHWAB BK SSB
CD 5.350% 03/22/24 M 99.81 249,523 99.78 0.5 0.0
RENO NV ACT/365 Fixed 100.00 -478 5.76%M 0.0 0.3%
15987UAU2 FDIC 100.00 5.35% 5.76% 0.3%
250,000 HEARTLAND BANK & TR CD 5.450% 04/29/24 M 99.97 249,920 BLOOMINGTON IL ACT/365 Fixed 100.00 -80 0.3%
42234FDP8 FDIC 100.00 0.3%
250,000 ASSOCIATED BK GREEN B
CD 5.150% 05/21/24 M 99.69 249,223 99.71 0.7 0.0
STEVENS POINT WI ACT/365 Fixed 100.00 -778 5.49%M 0.0 0.3% 045491NU7 FDIC 100.00 5.15% 5.49% 0.3%
250,000 GOLDMAN SACHS BK USA
CD 5.000% 05/22/24 M 99.59 248,985 99.61 0.7 0.0
NEW YORK NY ACT/365 Fixed 100.00 -1,015 5.49%M 0.0 0.3% 38150VHQ5 FDIC 100.00 5.00% 5.49% 0.3%
50,000 AMERICAN EXPR NATL BK
CD 5.100% 05/23/24 M 99.65 49,827 99.68 0.7 0.0
SALT LAKE CTY UT ACT/365 Fixed 100.00 -173 5.49%M 0.0 0.1% 02589AET5 FDIC 100.00 5.10% 5.49% 0.1%
250,000 BANK OF AMERICA NA CD 5.150% 05/23/24 M 99.69 249,213 99.71 0.7 0.0 CHARLOTTE NC ACT/365 Fixed 100.00 -788 5.49%M 0.0 0.3%
06051VT89 FDIC 100.00 5.15% 5.49% 0.3%
250,000 US BANK NATL ASSOC CD 5.100% 05/23/24 M 99.65 249,135 99.68 0.7 0.0 MINNEAPOLIS MN ACT/365 Fixed 100.00 -865 5.49%M 0.0 0.3% 90354KBV9 FDIC 100.00 5.10% 5.49% 0.3%
250,000 CAPITAL ONE NA CD 2.500% 06/19/24 M 97.83 244,575 97.66 0.8 0.0 MCLEAN VA ACT/365 Fixed 100.00 -5,426 5.56%M 0.0 0.3%
14042RLZ2 FDIC 100.00 2.50% 5.56% 0.3%
250,000 FULTON BANK CD 5.350% 06/24/24 M 99.83 249,570 99.88 0.8 0.0 WILLIAMSPORT PA ACT/365 Fixed 100.00 -430 5.50%M 0.0 0.3% 359899AN1 FDIC 100.00 5.35% 5.50% 0.3%
125,000 COMENITY CAPITAL BANK
CD 2.500% 06/27/24 M 97.74 122,179 97.57 0.8 0.0
SALT LAKE CTY UT ACT/365 Fixed 100.00 -2,821 5.57%M 0.0 0.1% 20033AZ58 FDIC 100.00 2.50% 5.57% 0.1%
250,000 CUSTOMERS BANK CD 4.700% 08/16/24 M 99.18 247,943 99.18 0.9 0.0 WEST READING PA ACT/365 Fixed 100.00 -2,058 5.59%M 0.0 0.3% 23204HNC8 FDIC 100.00 4.70% 5.59% 0.3%
250,000 MORGAN STANLEY BK NA
CD 5.500% 09/26/24 M 99.81 249,525
SOUTH JORDAN UT ACT/365 Fixed 100.00 -475 0.3%
61690DEM6 FDIC 100.00 0.3%
09/30/2023 © 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 250,000 BANK OF BARODA CD 5.500% 09/27/24 M 99.81 249,523 NEW YORK NY ACT/365 Fixed 100.00 -478 0.3%
06063HRH8 FDIC 100.00 0.3%
250,000 COMERICA BANK TEXAS CD 5.250% 09/30/24 M 99.57 248,918 99.65 1.0 0.0 DALLAS TX ACT/365 Fixed 100.00 -1,083 5.58%M 0.0 0.3%
200339FB0 FDIC 100.00 5.25% 5.58% 0.3%
250,000 BANK HAPOALIM BM NY CD 5.050% 11/26/24 M 99.29 248,230 99.39 1.2 0.0 NEW YORK NY ACT/365 Fixed 100.00 -1,770 5.56%M 0.0 0.3% 06251A5N6 FDIC 100.00 5.05% 5.56% 0.3%
250,000 MANUF & TRADERS TR CO
CD 4.900% 12/09/24 M 99.10 247,760 99.19 1.2 0.0
BUFFALO NY ACT/365 Fixed 100.00 -2,240 5.56%M 0.0 0.3%
564759RJ9 FDIC 100.00 4.90% 5.56% 0.3%
250,000 ALLY BANK CD 5.250% 03/24/25 M 99.45 248,613 99.59 1.4 0.0 BENSALEM PA ACT/365 Fixed 100.00 -1,388 5.52%M 0.0 0.3% 02007GM34 FDIC 100.00 5.25% 5.52% 0.3%
200,000 AMERICAN EXPR NATL BK
CD 2.050% 03/24/25 M 94.93 189,856 94.85 1.5 0.0
SALT LAKE CTY UT ACT/365 Fixed 100.00 -10,144 5.56%M 0.0 0.2% 02589ABV3 FDIC 100.00 2.05% 5.56% 0.2%
250,000 WELLS FARGO BANK NA CD 4.900% 05/23/25 M 98.86 247,160 99.01 1.6 0.0 SIOUX FALLS SD ACT/365 Fixed 100.00 -2,840 5.51%M 0.0 0.3% 949764CT9 FDIC 100.00 4.90% 5.51% 0.3%
250,000 BMO HARRIS BANK NA CD 4.850% 05/27/25 M 98.78 246,960 98.92 1.6 0.0 CHICAGO IL ACT/365 Fixed 100.00 -3,040 5.50%M 0.0 0.3%
05600XQK9 FDIC 100.00 4.85% 5.50% 0.3%
250,000 BMW BK N AMERICA CD 5.100% 09/17/25 M 99.11 247,763 99.30 1.9 0.0 SALT LAKE CTY UT ACT/365 Fixed 100.00 -2,238 5.47%M 0.0 0.3% 05580AX58 FDIC 100.00 5.10% 5.47% 0.3%
250,000 STATE BANK OF INDIA CD 4.950% 12/02/25 M 98.78 246,958 98.97 2.1 0.0 NEW YORK NY ACT/365 Fixed 100.00 -3,043 5.44%M 0.1 0.3% 856285V81 FDIC 100.00 4.95% 5.44% 0.3%
200,000 COMENITY BANK CD 2.000% 03/18/26 M 91.91 183,826 92.16 2.5 0.0 WILMINGTON DE ACT/365 N/A 100.00 -16,174 5.20%M 0.1 0.2% 99000QQW7 FDIC 100.00 2.00% 5.20% 0.2%
250,000 SYNCHRONY BANK CD 5.000% 03/24/26 M 98.87 247,185 99.06 2.3 0.0 DRAPER UT ACT/365 Fixed 100.00 -2,815 5.40%M 0.1 0.3%
87165HX21 FDIC 100.00 5.00% 5.40% 0.3%
250,000 TEXAS EXCHANGE BK SSB
CD 1.100% 10/29/26 M 87.87 219,665 87.76 3.1 0.0
CROWLEY TX ACT/365 Fixed 10/29/23 P 100.00 -30,335 5.33%M 0.1 0.3% 88241TMC1 FDIC 100.00 100.00 1.10% 5.33% 0.2%
09/30/2023 © 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 200,000 DISCOVER BANK CD 4.950% 11/16/26 M 98.79 197,578 98.96 2.9 0.0 GREENWOOD DE ACT/365 Fixed 100.00 -2,422 5.30%M 0.1 0.2% 254673Z66 FDIC 100.00 4.95% 5.30% 0.2%
250,000 UBS BANK USA CD 1.150% 12/08/26 M 87.66 219,158 87.57 3.2 0.0 SALT LAKE CTY UT ACT/365 Fixed 100.00 -30,843 5.31%M 0.1 0.3% 90348JX96 FDIC 100.00 1.15% 5.31% 0.2%
250,000 CELTIC BANK CD 2.000% 12/27/27 M 87.62 219,038 87.62 4.1 0.0 SALT LAKE CTY UT ACT/365 Fixed 100.00 -30,963 5.21%M 0.2 0.3% 15118RTH0 FDIC 100.00 2.00% 5.21% 0.2%
Cash Alternatives 0.000% 10,130,663 0.1 0.0
130,596 5.40% 0.0 12.2%

5.40% 11.5%
Treasury Bill 0.000% 10,130,663 0.1 0.0
130,596 5.40% 0.0 12.2%

5.40% 11.5%
-
5,077,000 US TREASURY 0.000% 10/17/23 M 99.78 5,065,831 99.32 0.1 0.0 BILL N/A 98.49 65,304 5.40%M 0.0 6.1%
912797HB6 98.49 5.40% 5.8%
5,076,000 US TREASURY 0.000% 10/17/23 M 99.78 5,064,833 99.32 0.1 0.0 BILL N/A 98.49 65,292 5.40%M 0.0 6.1%
912797HB6 98.49 5.40% 5.8%
Fixed Income Statistics Total 2.282% 83,303,635 1.4 1.6 -607,595 5.11% 0.0 100.0%

4.26% 5.11% 94.6%
Total Portfolio Value as of 09/29/23:__$ 88,067,427
Yield Price as of 08/31/23
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. 09/30/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 18 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%.

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.

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. 09/30/2023 © 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($) Percent of
Fxd Inc Port
Investment Grade 59 2.282% 83,303,635 100.0% 94.6%
Treasuries 13 1.922% 72,442,116 87.0% 82.3%
CDs 43 4.625% 10,112,551 12.1% 11.5%
Not Available 3 5.483% 748,968 0.9% 0.9%
Fixed Income Credit Total 59 2.282% 83,303,635 100.0% 94.6% Total Portfolio Value as of 09/29/23:__$ 88,067,427
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. 09/30/2023 © 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 1 0.000% 5.40% 5.40% 0.1 0.0 0.0 12.2% 11.5% Market Value: $ 10,130,663
Treasury Note 12 2.234% 5.00% 5.00% 1.6 0.0 1.4 74.8% 70.8% Market Value: $ 62,311,453
Certificates of Deposit 46 4.684% 5.45% 5.45% 1.0 0.0 0.2 13.0% 12.3% Market Value: $ 10,861,518
Fixed Income Analytics Total 59 2.282% 5.11% 5.11% 1.4 0.0 1.6 100.0% 94.6% Market Value: $ 83,303,635
Total Portfolio Value as of 09/29/23:__$ 88,067,427
Yield Price as of 08/31/23
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. 09/30/2023 © 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 15,000
30,000
45,000
60,000
75,000
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 72,442,116 1.922% 4.684%
Government Bond 72,442,116 1.922% 4.684%
CDs 10,112,551 4.625% 1.958%
Corporate Bond 10,112,551 4.625% 1.958%
Not Available 748,968 5.483% 2.253%
Corporate Bond 748,968 5.483% 2.253%
Ratings Distribution Total 83,303,635 2.282% 0.000%
Composite Ratings: Treasuries, Agencies, AAA, AA, A, BBB, BB, B, CCC, CC, C, D, Unrated and Not Available. 09/30/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 22 of 39 Portfolio Reports City of Malibu
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.

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. 09/30/2023 © 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 10,000
20,000
30,000
40,000
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 16,153,000 0.673% 2.643%
2024 19,597,000 2.841% 2.107%
2025 35,115,000 2.784% 1.923%
2026 9,150,000 1.662% 2.347%
2027 6,144,000 2.672% 2.243%
Redemption Distribution Total 86,159,000 2.274% 0.000%
09/30/2023 © 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. 09/30/2023 © 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($)
Oct
2023
Nov
2023
Dec
2023
Jan
2024
Feb
2024
Mar
2024
Apr
2024
May
2024
Jun
2024
Jul
2024
Aug
2024
Sep
2024
Month
Government Bond Corporate Bond
___Oct
2023
___Nov
2023
___Dec
2023
___Jan
2024
___Feb
2024
___Mar
2024
___Apr
2024
___May
2024
___Jun
2024
___Jul
2024
___Aug
2024
___Sep
2024
Total
Prin($)
Government Bond 10,153 4,422 4,000 1,000 4,000 23,575
Corporate Bond 1,500 500 250 500 2,000 250 1,050 625 250 750 7,675 Redemption Distribution
Rolling 12 Months Total 10,153 1,500 500 250 4,922 6,000 1,250 1,050 625 250 4,750 31,250 Current Market Value of Securities with Undefined Redemption Value:__$ 0 Total Portfolio Value as of 09/29/23:__$ 88,067,427
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 09/30/2023 © 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. 09/30/2023 © 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 10,000
20,000
30,000
40,000
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 30,079,849 0.3 2.0
Government Bond 23,425,963 0.3 1.8
Corporate Bond 6,653,886 0.5 1.5
1 to < 2 38,122,732 1.6 1.2
Government Bond 36,197,474 1.6 1.2
Corporate Bond 1,925,259 1.4 1.4
2 to < 3 8,191,267 2.6 1.2
Government Bond 7,315,720 2.7 1.2
Corporate Bond 875,547 2.4 1.4
09/30/2023 © 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 5,941,782 3.4 1.2
Government Bond 5,502,959 3.5 1.2
Corporate Bond 438,823 3.1 1.4
4 to < 5 219,038 4.1 1.4
Corporate Bond 219,038 4.1 1.4
N/A 748,968
Corporate Bond 748,968
Duration Distribution Total 83,303,635 1.4 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. 09/30/2023 © 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 4,000
8,000
12,000
16,000
20,000
24,000
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 11,373,680 0.449% 2.572%
Fixed Coupon 11,373,680 0.449% 2.572%
1 to < 2 14,264,832 1.644% 2.414%
Fixed Coupon 14,264,832 1.644% 2.414%
2 to < 3 17,723,933 2.409% 2.247%
Fixed Coupon 17,540,107 2.414% 2.247%
Not Available 183,826 2.000% 2.282%
3 to < 4 20,596,391 3.468% 1.892%
Fixed Coupon 20,596,391 3.468% 1.892%
09/30/2023 © 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 1,683,513 4.854% 2.229%
Fixed Coupon 1,683,513 4.854% 2.229%
5 to < 6 7,530,622 5.208% 1.991%
Fixed Coupon 7,530,622 5.208% 1.991%
N/A 10,130,663 0.000% 2.598%
Not Available 10,130,663 0.000% 2.598%
Coupon Distribution Total 83,303,635 2.282% 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. 09/30/2023 © 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.
09/30/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 32 of 39 Portfolio Reports City of Malibu
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 09/30/2023 © 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
09/30/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 34 of 39 Portfolio Reports City of Malibu
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. 09/30/2023 © 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. 09/30/2023 © 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% 09/30/2023 © 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%
09/30/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 38 of 39 Portfolio Reports City of Malibu
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. 09/30/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 39 of 39