The current agreement for purchase of Badger Meters and associated parts, No. 197017, will expire in June 2024. Badger Meter is the original equipment manufacturer (OEM) and holds the proprietary software and hardware required for measuring customer water usage and utility billing.
DISCUSSION:
In May 2021, Council approved a 5-year purchase agreement with Badger Meter for water meters, automated meter readers, and related parts.
Registers are an integral part of the badger meter and are utilized to provide digitally transmitted data of water usage. There are approximately 75,000 meters that are digitally read monthly, with about 1,000 re-reads. A re-read occurs when the data did not digitally transmit, and generally indicates register failure. Staff will then manually read the meter and verify if the register is still active.
From 2021 to 2022, during the first year of the meter replacement project, staff observed an increase in the number of failing registers at the end of their lifespan. It was initially estimated that there would be 1,000 registers failing monthly throughout the remainder of the agreement.
An increase to the agreement would have allowed for continued support of digital meter reading, thus saving valuable staff time, and allowing for seamless customer billing. However, since that time the actual cost of 12,000 registers per year has been approximately $1,620,000.
In the year following the first amendment, Water staff observed that meters were failing in larger quantities and more rapidly than previously anticipated. In addition, during 2022 the Water Division conducted a large water meter health analytics pilot project to identify meters with significant repair needs, and the results showed that approximately half of the large meters tested would require major repairs. The pilot project tested 25 meters and based on those results the Water Division has submitted a request to expand the project out to a total of 200 large water meters. These costs were not anticipated at the time the first amendment was submitted.
Due in part to the findings of the meter health analytics project, Water Division staff determined that the presence of multiple mechanical parts in existing meters appears to be the source of many equipment repair needs. When parts of large water meters fail, there can be substantial water waste as well as significant revenue loss due to missed billing. Conversion of mechanical meters to ultrasonic flow meters would significantly reduce the need for ongoing diagnosis and repair or replacement of meters and meter parts. The Division plans to replace all large water meters with ultrasonic flow meters to reduce costs associated with repairs, water loss, and revenue loss due to failing equipment.
Finally, the impact of the global pandemic on the global supply chain, including lockdowns, labor and material scarcity, and prolonged shipping delays, have significantly affected the ability of vendors to meet ordering expectations in a timely manner. During the first two years of the current agreement, staff experienced shipping delays of up to six to nine months, during which time failed meters were unable to be replaced. Due to this, staff recommend funding at least 25% of additional stock per year to enable operations to continue replacing meters without any gap in service.
FISCAL IMPACTS:
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City Council, December 12, 2023
Second Amendment Increasing Badger Water Meter Agreement
Based on the current usages and length of the lead time for these commodities, staff is requesting an annual increase of $1,612,200, for an estimated annual amount not to exceed $3,113,000.
Term Annual Cost
Revised
Annual Cost
Actual Spend
to Date
1 June 7, 2021 - June 6, 2022 $ 600,880 $1,500,880 $1,481,468 1st
Amendment
2 June 7, 2022 - June 6, 2023 $ 600,880 $1,500,880 $1,233,581 1st
Amendment
3 June 7, 2023 - June 6, 2024 $ 600,880 $3,113,0002 $1,489,9953 2nd
Amendment
4 June 7, 2024 - June 6, 2025 $ 600,880 $3,113,000
2nd
Amendment
5 June 7, 2025 - June 6, 2026 $ 600,880 $3,113,000
2nd
Amendment
Funds are budgeted in the Water Fund; 4100-45020-53150, 4100-45040-53150, 4100-45060- 53150. Staff has calculated an estimated annual cost of $3,113,000 and a total not to exceed $12,340,760 over five years.
FUND COST CENTER BUDGETED AMOUNT
Water (4100)
Construction, Repairs and Maintenance 45020, 45040, 45060 $3,113,000 ANNUAL TOTAL NOT TO EXCEED $3,113,000
FIVE (5) YEAR TOTAL NOT TO EXCEED $12,340,760
COMMITTEE RECOMMENDATION:
This item was presented to Finance Committee on November 13, 2023, and approved to move forward to Council.
RECOMMENDED ACTIONS:
Staff Recommendations:
Resolution approving a Second Amendment to increase the Agreement with Badger Meter, Inc. for the purchase of Badger water meters, automated meter readers, and related parts by $1,612,120 from $1,500,880 per year to a revised annual estimated total of $3,113,000 per year and increasing the total amount by $4,836,360 from $7,504,400 to a new revised total not to exceed $12,340,760 over five (5) years and authorizing the Director of Finance, or her designee, to execute the Amendment.
2 Requested amount for second amendment
3 Current year to date spend
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City Council, December 12, 2023
Second Amendment Increasing Badger Water Meter Agreement
Approved by: _____________________________________________ DeAnna Christensen, Director of Finance
_____________________________________________
Joseph P. Lopez, City Manager
Attachments:
1. Resolution
2. Amendment 2
3. Amendment 1
4. Purchase Agreement - Badger 197017
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1 MODESTO CITY COUNCIL
RESOLUTION NO. 2023-
RESOLUTION APPROVING A SECOND AMENDMENT TO INCREASE THE AGREEMENT WITH BADGER METER, INC. FOR THE PURCHASE OF BADGER
WATER METERS, AUTOMATED METER READERS, AND RELATED PARTS BY $1,612,120 FROM $1,500,880 PER YEAR TO A REVISED ANNUAL ESTIMATED TOTAL OF $3,113,000 PER YEAR AND INCREASING THE TOTAL AMOUNT BY $4,836,360 FROM $7,504,400 TO A NEW REVISED TOTAL NOT TO EXCEED $12,340,760 OVER FIVE (5) YEARS AND AUTHORIZING THE DIRECTOR OF
FINANCE, OR HER DESIGNEE, TO EXECUTE THE AMENDMENT
WHEREAS, the City is in the process of installing water meters and automated meter reading equipment on all service connections within the City’s service area, and WHEREAS, the Water Services Division has contracted with Badger Meter, Inc. since 2006 for residential and industrial meters and automated meter reading equipment, and WHEREAS, on May 4, 2021, by Resolution No. 2021-167, Council authorized the Sole Brand purchase of Badger Meter water meters, automated meter readers, and related parts to Badger Meter, Inc. for an amount not to exceed $3,059,022 over five years, and WHERAS, on March 8, 2022, by Resolution No. 2022-122, Council amended the agreement for the purchase of additional water meters and parts for a new total amount not to exceed $7,504,400 over five years, and
WHEREAS, Badger meters are installed on nearly 75,000 of the service connections in Modesto and outlying systems, or over 99% of existing meters, and WHEREAS, meters are failing more rapidly and in larger quantities than previously anticipated, and
WHEREAS, the large meter health analytics program identified approximately 200 meters requiring major repair, and
WHEREAS, shipping delays of six (6) to nine (9) months have significantly affected the vendors ability to meet ordering expectations in a timely manner, and #14..
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2 WHEREAS, additional funds are required to maintain approximately 25% more stock, and
WHEREAS, Modesto Municipal Code Section 8-3.203 generally requires all purchases in excess of one hundred thousand dollars ($100,000) generally requires all purchases, which meet or exceed $100,000 for material, equipment, or contractual services to be formally bid. However, MMC 8-3.204(f) provides that where the Purchasing Manager, in his or her discretion, determines that it is appropriate to amend the services or goods provided under an existing agreement in order to increase efficiency and avoid delays or disruptions to City projects. Therefore, staff recommends increasing funds and approving this second amendment to ensure that parts are available as needed.
WHEREAS, funds have been budgeted in the following Water Fund cost centers, 4100-45020-53150, 4100-45040-53150, 4100-45060-53150, and various Water Fund CIP’s.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves a Second Amendment to increase the Agreement with Badger Meter, Inc. for the purchase of Badger water meters, automated meter readers, and related parts by $1,612,120 from $1,500,880 per year to a revised annual estimated total of $3,113,000 per year and increasing the total amount by $4,836,360 from $7,504,400 to a new revised total not to exceed $12,340,760 over five (5) years.
BE IT FURTHER RESOLVED that the Director of Finance, or her designee, is hereby authorized to execute the Amendment in a form approved by the City Attorney. #14..
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3 The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 12th day of December 2023, by Councilmember ?, who moved its adoption, which motion being duly seconded by Councilmember ?, was upon roll call carried and the resolution adopted by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
ATTEST:
DIANE NAYARES-PEREZ, CMC,
City Clerk
(SEAL)
APPROVED AS TO FORM:
By:____________________________________
JOSE M. SANCHEZ, City Attorney
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1 SECOND AMENDMENT TO AGREEMENT
FOR BADGER WATER METERS, AUTOMATED READERS, AND RELATED PARTS
WITH BADGER METER, INC
This SECOND AMENDMENT to the AGREEMENT, made and entered into in the City of Modesto, State of California, this _______ day of ______________, 2023, by and between the City of Modesto, a municipal corporation of the State of California, hereinafter called CITY, and BADGER METER, INC, hereinafter collectively referred to as CONTRACTOR.
This SECOND AMENDMENT to the AGREEMENT is made with reference to the following recitals:
A. An AGREEMENT, hereinafter referred to as AGREEMENT was entered into by and between CITY and CONTRACTOR on the 7th day of JUNE, 2021 to provide Badger water meters, automated readers and related parts
B. CITY and CONTRACTOR desire to amend the AGREEMENT by increasing the previously approved annual amount from $1,500,880 to $3,113,000 for Badger water meters, automated readers and related parts identified in the AGREEMENT.
C. CITY and CONTRACTOR now desire to memorialize the change to the terms of the AGREEMENT with this SECOND AMENDMENT.
NOW, THEREFORE, the parties hereto mutually agree to the following:
1. The second paragraph of the AGREEMENT shall be amended to include the following:
“Total amount not to exceed $12,340,760 over five years
2. Except as modified and amended by this SECOND AMENDMENT to the AGREEMENT, all other provisions of the Agreement shall remain unchanged and in full force and effect. #14..
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2 IN WITNESS WHEREOF, the CITY OF MODESTO, a Municipal Corporation, has authorized the execution of this Second Amendment to the Agreement by its City Manager and attested by its City Clerk under authority of Resolution No.2023-_____, adopted by the Council of the City of Modesto on the ______ day of _______________, 2023, and Badger Meter Inc. has caused this Second Amendment to the Agreement to be duly executed. #14..
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1 FIRST AMENDMENT TO AGREEMENT
FOR BADGER WATER METERS, AUTOMATED READERS, AND RELATED PARTS
WITH BADGER METER, INC
This FIRST AMENDMENT to the AGREEMENT, made and entered into in the City of Modesto, State of California, this _____ day of ____, 2022, by and between the City of Modesto, a municipal corporation of the State of California, hereinafter called CITY, and BADGER METER, INC, hereinafter collectively referred to as CONTRACTOR.
This FIRST AMENDMENT to the AGREEMENT is made with reference to the following recitals:
A. An AGREEMENT, hereinafter referred to as AGREEMENT was entered into by and between CITY and CONTRACTOR on the 7
TH day of JUNE, 2021 to provide Badger water meters,
automated readers and related parts
B. CITY and CONTRACTOR desire to amend the AGREEMENT by increasing the previously approved annual amount from $600,880 to $1,500,880 for Badger water meters, automated readers and related parts identified in the AGREEMENT.
C. CITY and CONTRACTOR now desire to memorialize the change to the terms of the AGREEMENT with this FIRST AMENDMENT.
NOW, THEREFORE, the parties hereto mutually agree to the following:
1. The second paragraph of the AGREEMENT shall be amended to include the following:
“Total amount not to exceed $7,504,400 over five years
2. Except as modified and amended by this FIRST AMENDMENT to the AGREEMENT, all other provisions of the Agreement shall remain unchanged and in full force and effect.
IN WITNESS WHEREOF, the CITY OF MODESTO, a Municipal Corporation, has authorized the execution of this First Amendment to the Agreement by its City Manager and attested DocuSign Envelope ID: 782C7025-FA41-4702-A0F5-6CE6A8438DCA 8th March
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2 by its City Clerk under authority of Resolution No.__________, adopted by the Council of the City of Modesto on the ____ day of _____________, 2022, and Badger Meter Inc. has caused this First Amendment to the Agreement to be duly executed.
DocuSign Envelope ID: 782C7025-FA41-4702-A0F5-6CE6A8438DCA 2022-122
March 8th
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CITY OF MODESTO
PURCHASING DIVISION
1010 TENTH ST., SUITE 5300
MODESTO, CA 95354
TEL: (209) 577-5405 FAX: (209) 544-8821
PURCHASE AGREEMENT NO. 197017
VENDOR:
BADGER METER
4545 W BROWN DEER RD
MILWAUKEE, WI 53224-9536
SHIP TO:
N.E. STORES DIVISION
4240 LITT ROAD
MODESTO, CA 95357
INVOICE TO:
CITY OF MODESTO
ACCOUNTS PAYABLE
P.O. BOX 642
MODESTO, CA 95353
ANNUAL AGREEMENT FOR THE PURCHASE OF WATER METERS, AUTOMATED READERS, AND RELATED PARTS ON AN “AS NEEDED” BASIS FOR UTILITIES DEPARTMENT, WATER DIVISION.
ESTIMATED ANNUAL AMOUNT OF $600,880 AND A TOTAL AMOUNT NOT TO EXCEED $3,059,022 OVER 5 YEARS, PER COUNCIL RESOLUTION 2021-______
1. TERM OF THE CONTRACT: THE TERM OF THE CONTRACT SHALL BE FOR A PERIOD OF TWO (2) YEARS WITH THREE (1) ONE-YEAR EXTENSION OPTIONS AT THE SOLE DISCRETION OF CITY, FOR A TOTAL OF UP TO FIVE (5) YEARS.
YEAR ONE: JUNE 7, 2021 THROUGH JUNE 6, 2022
YEAR TWO: JUNE 7, 2022 THROUGH JUNE 6, 2023
YEAR THREE:
YEAR FOUR:
YEAR FIVE:
JUNE 7, 2023 THROUGH JUNE 6, 2024
JUNE 7, 2024 THROUGH JUNE 6, 2025
JUNE 7, 2025 THROUGH JUNE 6, 2026
2. PRICING SHALL REMAIN FIRM FOR THE FIRST TWO (2) YEARS OF THE AGREEMENT.
PRICE INCREASES FOR SUBSEQUENT CONTRACT YEARS THREE (3), FOUR (4) AND FIVE (5) SHALL NOT
EXCEED THE PRODUCERPRICE INDEX (PPI) FOR WEST URBAN AREA IN ANY ONE CONTRACT YEAR, AND SHALL BE NEGOTIATED THROUGH THE PURCHASING DIVISION. REQUESTS FOR PRICE INCREASES SHALL BE SUBMITTED BY CONTRACTOR IN WRITING, SIXTY (60) DAYS PRIOR TO THE ANNUAL ANNIVERSARY DATE OF THE CONTRACT TO BE EFFECTIVE FOR THE SUBSEQUENT YEAR.
DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E 167
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3. USAGE: NO MINIMUM OR MAXIMUM QUANTITIES ARE GUARANTEED OR IMPLIED.
4. DELIVERY: DELIVERIES SHALL BE MADE WITHIN TWENTY-ONE (21) WORKING DAYS AFTER AN ORDER IS PLACED, UNLESS OTHERWISE SPECIFIED. IF THE DELIVERY CANNOT BE MADE WITHIN THIS TIME FRAME, VENDOR SHALL IMMEDIATELY NOTIFY THE CITY BY PHONE WITH THE ANTICIPATED DELIVERY DATE.
CONTACT REPRESENTATIVE: MICHELLE TAPLEY , SENIOR BUYER , PH: (209) 577-6316
5. PAYMENT: ALL INVOICES SHALL BE PAID IN FULL WITHIN THIRTY (30) DAYS AFTER COMPLETION AND
ACCEPTANCE OF THE SERVICE BY THE CITY, AND RECEIPT OF A PROPERLY PREPARED INVOICE, SUBJECT TO CASH DISCOUNTS ALLOWED AND STATED IN THE BID DOCUMENT.
6. INVOICING: INVOICE SHALL REFERENCE AGREEMENT NO. 197017. THE INVOICE SHALL INCLUDE THE FIRST AND LAST NAME OF THE PERSON REQUESTING THE SERVICE. ALL INVOICES SHALL BE EMAILED DIRECTLY TO ACCOUNTS PAYABLE AT [email protected] . ALL INVOICES SHALL REFERENCE STOCK NUMBER LISTED ON PRICING SCHEDULE.
7. CONTRACTUAL CHANGES: CHANGES OF A CONTRACTUAL OR BUSINESS NATURE SHALL BE EFFECTED
ONLY BY WRITTEN CHANGE TO THIS AGREEMENT THROUGH THE CITY OF MODESTO, PURCHASING DIVISION.
PURCHASING REPRESENTATIVE: MICHELLE TAPLEY , SENIOR BUYER , PH: (209) 577-6316
8. TERMINATION OF SERVICES: THE CITY RESERVES THE RIGHT TO DISCONTINUE SERVICES WITH THE
PROVIDER UPON FAILURE TO MEET CONTRACTUAL EXPECTATIONS AND/OR OBLIGATIONS, AS RECOMMENDED BY THE SITE SUPERVISOR OR HIS/HER AGENT.
CANCELLATION OF SERVICES SHALL BE DETERMINED BY THE COLLABORATIVE EFFORTS OF THE
PURCHASING MANAGER, OR DESIGNEE, AND USING DEPARTMENT AFTER REVIEWING THE INCIDENT(S) OF FAILURE TO PERFORM.
9. INSPECTION: ALL MATERIALS AND WORKMANSHIP ARE SUBJECT TO INSPECTION AND TEST BY THE CITY
FOR COMPLIANCE WITH SPECIFICATIONS AS INCLUDED HEREIN, WITHIN A REASONABLE TIME AFTER DELIVERY. IN THE EVENT ARTICLES OR SERVICES ARE DEFECTIVE OR NOT IN CONFORMITY WITH THIS ORDER, THE CITY SHALL HAVE THE RIGHTS TO EITHER REJECT THE ITEMS OR REQUIRE CORRECTION.
DEFECTIVE ARTICLES OR SERVICES SHALL BE REMOVED FROM CITY PREMISES AND/OR CORRECTED BY AND AT THE EXPENSE OF THE VENDOR. FAILURE TO INSPECT AND ACCEPT OR REJECT SHALL NOT RELIEVE THE VENDOR FROM RESPONSIBILITY FOR COMPLIANCE WITH SPECIFICATIONS. FINAL
ACCEPTANCE SHALL BE CONCLUSIVE EXCEPT AS REGARDS TO LATENT DEFECTS, FRAUD, OR SUCH GROSS MISTAKES AS AMOUNT TO FRAUD.
10. RESPONSIBILITY: UNLESS OTHERWISE SPECIFIED, THE VENDOR SHALL BE RESPONSIBLE FOR ALL ITEMS
COVERED BY THIS PURCHASING AGREEMENT UNTIL DELIVERED AT THE DESIGNATED DELIVERY POINT
AND THE VENDOR SHALL BEAR ALL RISKS AS TO ITEMS REJECTED OR REQUIRING CORRECTION AFTER NOTICE OF SUCH REJECTION OR CORRECTION IS GIVEN.
11. SHIPMENT: ALL ITEMS SHIPPING POINT FCA FACTORY UNLESS OTHERWISE SPECIFIED. WHEN AUTHORIZED, FREIGHT TO BE PREPAID. DO NOT SHIP COLLECT. ORIGINAL RECEIPTED FREIGHT BILL MUST ACCOMPANY THE INVOICE. SHIPMENT MUST BE MADE WITHIN THE TIME STATED ON PURCHASING
AGREEMENT, FAILING WHICH CITY RESERVES THE RIGHT TO PURCHASE ELSEWHERE AND CHARGE
VENDOR WITH ANY LOSS INCURRED, UNLESS DELAY IN MAKING SHIPMENT IS DUE TO UNFORESEEABLE CAUSES BEYOND THE CONTROL AND WITHOUT THE FAULT OR NEGLIGENCE OF THE VENDOR.
12. CHANGES: THIS PURCHASING AGREEMENT MAY AT ANY TIME, BY WRITTEN ORDER, BE CHANGED IN
REGARD TO THE MATERIALS OR SERVICE TO BE FURNISHED, QUANTITIES ORDERED, UNIT PRICE,
DISCOUNT, DELIVERY POINT OR ARRANGEMENTS, TERMS OR ANY OTHER MATTERS AFFECTING A VALID ORDER. IN THE EVENT SUCH CHANGE CAUSES AN INCREASE OR DECREASE IN THE COST OF DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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PERFORMANCE HEREUNDER, AN EQUITABLE ADJUSTMENT WILL BE MADE FOR THE COST THEREOF, SUBJECT TO THE APPROVAL OF THE PURCHASING MANAGER, AND WRITTEN NOTICE GIVEN THEREFORE.
13. WARRANTY: BADGER METER’S STANDARD WARRANTIES APPLY. (EXHIBIT A)
14. DISCOUNT: IN CONNECTION WITH ANY DISCOUNT OFFERED, TIME WILL BE COMPUTED FROM DATE OF
DELIVERY TO CARRIER WHEN DELIVERY AND ACCEPTANCE ARE AT POINT OF ORIGIN, OR FROM DATE OF
DELIVERY AND ACCEPTANCE IF AT DESTINATION OR FROM DATE CORRECT INVOICE IS RECEIVED BY CITY, IF INVOICE DATE IS LATER THAN DATE OF DELIVERY.
15. INSURANCE: ALL ORDERS WHERE WORK, MAINTENANCE, OR SERVICE IS PERFORMED ON CITY PROPERTY REQUIRE APPROPRIATE INSURANCE AND INDEMNIFICATION. SERVICES WILL BE SUSPENDED WITHOUT PROPER INSURANCE CERTIFICATES BEING ON FILE WITH THE CITY. CONTACT CITY PURCHASING OFFICE TO VERIFY THE TYPE OF INSURANCE REQUIRED.
16. EXEMPTIONS: THE CITY IS EXEMPT FROM PAYMENT OF FEDERAL EXCISE TAX. ALL INVOICES SHALL BE EXCLUSIVE OF SUCH EXCISE TAX. IF PURCHASE IS NOT SUBJECT TO SALES TAX, THE STATEMENT FOR RESALE WILL APPEAR IN THE BODY OF THE PURCHASING AGREEMENT.
17. INFRINGEMENT: VENDOR AGREES TO PROTECT, INDEMNIFY AND SAVE HARMLESS THE CITY AS BUYER,
ITS AGENTS, OFFICERS, EMPLOYEES, AND VOLUNTEERS FROM ANY CLAIM, LOSS OR DAMAGE FROM
INFRINGEMENT OF TRADEMARKS, PATENTS, COPYRIGHTS AND UNFAIR COMPETITION ACTION WITH RESPECT TO THIS AGREEMENT.
18. INDEMNITY: THE VENDOR SHALL HOLD THE CITY, ITS AGENTS, OFFICERS, EMPLOYEES, AND
VOLUNTEERS, HARMLESS FROM AND SAVE, DEFEND AND INDEMNIFY THEM AGAINST ANY AND ALL
CLAIMS, LOSSES, LIABILITIES, JUDGMENTS OR DAMAGES FROM EVERY CAUSE, INCLUDING BUT NOT
LIMITED TO INJURY TO PERSON OR PROPERTY OR WRONGFUL DEATH, INCLUDING REASONABLE COSTS
AND EXPENSES OF DEFENSE OF ANY JUDICIAL OR ADMINISTRATIVE ACTION, ARISING DIRECTLY OR
INDIRECTLY OUT OF ANY NEGLIGENT OR INTENTIONAL ACT OR OMISSION OF VENDOR, OR ITS AGENTS,
OFFICERS, EMPLOYEES, OR VOLUNTEERS RELATING TO OR DURING THE PERFORMANCE OF ITS OBLIGATIONS UNDER THIS AGREEMENT. VENDOR’S OBLIGATION TO DEFEND, INDEMNIFY, AND HOLD THE
CITY, ITS AGENTS, OFFICERS, AND EMPLOYEES HARMLESS UNDER THE PROVISIONS OF THIS PARAGRAPH
IS NOT LIMITED TO OR RESTRICTED BY ANY REQUIREMENT IN THIS AGREEMENT FOR VENDOR TO PROCURE AND MAINTAIN A POLICY OF INSURANCE. IN THE INDEMNITY CLAUSE CONTAINED HEREIN
VENDOR AGREES TO DEFEND, INDEMNIFY AND HOLD CITY HARMLESS FROM THE NEGLIGENCE OF ITS EMPLOYEES, AMONG OTHER RISKS. WITH REFERENCE TO THE FOREGOING, THE PARTIES AGREE THAT
ALL RISK OF LOSS, INCLUDING BUT NOT LIMITED TO DAMAGES, PROPERTY LOSSES AND DEFENSE OF
THIRD PARTY SUITS, ARISING OUT OF OR RELATING TO THE OPERATION OF CITY OWNED VEHICLES BY VENDOR’S EMPLOYEES IS APPORTIONED TO VENDOR IN ACCORDANCE WITH THE PROVISIONS CONTAINED IN INDEMNITY.
19. GOVERNING LAW: THIS PURCHASING AGREEMENT SHALL BE DEEMED MADE IN, GOVERNED BY,
PERFORMED IN, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, U.S.A., WITHOUT GIVING EFFECT TO ITS CONFLICTS OF LAWS, PROVISIONS OR PRINCIPLES.
20. LIABILITY: THE CITY SHALL NOT BE RESPONSIBLE FOR ANY DAMAGE THAT MAY ACCRUE BY REASON OF THE DEATH OR INJURY OF THE PERSON OF THE VENDOR’S OFFICERS, AGENTS, EMPLOYEES, INVITEES, OR
LICENSEES, OR BE SET UP AT ANY TIME BECAUSE OF PERSONAL INJURY OR DAMAGE TO PROPERTY
SUSTAINED BY ANY OTHER PERSON OR PERSONS, WHICH MAY HAVE BEEN CAUSED OR CONTRIBUTED TO,
APPROXIMATELY OR REMOTELY, BY REASON OF OR IN THE COURSE OF PERFORMANCE OF THE PURCHASING AGREEMENT. THE VENDOR SHALL ASSUME FULL RESPONSIBILITY FOR THE DEFENSE OF
ANY CLAIMS ARISING UNDER THE PURCHASING AGREEMENT AND THE VENDOR SHALL SAVE, KEEP, AND
BEAR HARMLESS THE CITY, ALL OFFICERS AND EMPLOYEES THEREOF, FROM ALL DAMAGES, COSTS, OR
EXPENSES BECAUSE OF PERSONAL INJURY OR PROPERTY DAMAGE BASED ON THE PERFORMANCE OF THIS PURCHASING AGREEMENT OR ASSERTED AGAINST IT.
DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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21. DISPUTES: ALL DISPUTES CONCERNING QUESTIONS OF FACT WHICH MAY ARISE UNDER THIS
PURCHASING AGREEMENT, AND NOT DISPOSED OF BY MUTUAL CONSENT SHALL BE DECIDED BY THE PURCHASING MANAGER.
22. OFFER AND ACCEPTANCE: VENDOR REPRESENTS ITS ACCEPTANCE TO PROVIDE PRODUCTS AND/OR SERVICES AS FOLLOWS: CITY’S OFFER TO PURCHASE PRODUCTS AND/OR SERVICES IS EXPRESSLY CONDITIONED UPON VENDOR’S ASSENT TO THE TERMS AND CONDITIONS SET FORTH IN CITY’S PURCHASING AGREEMENT DOCUMENTS, SPECIFICATIONS, SUPPORTING DATA, AND THESE ARTICLES.
VENDOR AGREES THAT VENDOR’S ORDER ACKNOWLEDGMENT TERMS AND CONDITIONS RECEIVED PRIOR TO, DURING, OR AFTER ORDER PLACEMENT BY CITY ARE HEREBY REJECTED. CITY PURCHASING AGREEMENTS SIGNED BY THE CITY’S PURCHASING MANAGER OR HIS/HER DESIGNATED AGENT AND ISSUED TO VENDOR CONSTITUTE WRITTEN NOTIFICATION TO VENDOR OF CITY’S REJECTION OF ANY AND ALL VENDOR ORDER ACKNOWLEDGMENTS, COUNTER OFFERS AND CHANGES TO THE CITY’S TERMS AND CONDITIONS.
23. ASSIGNMENT: NEITHER THIS PURCHASING AGREEMENT NOR ANY PORTION THEREOF SHALL BE
SUBCONTRACTED OR ASSIGNED WITHOUT THE WRITTEN CONSENT OF THE CITY IN EACH AND EVERY INSTANCE.
24. MISCELLANEOUS: TIME IS OF THE ESSENCE IN EACH AND EVERY PROVISION OF THIS PURCHASING AGREEMENT.
DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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ATTACHMENT A
ANNUAL PURCHASE AGREEMENT NO. 197017
PURCHASE OF BADGER WATER METERS, METER READERS & RELATED PARTS CONTRACTUAL PRICING – EFFECTIVE JUNE 6, 2021
Part # Description Pricing
140201 M35 BB 3/4' X 9" BRONZE, 9 DIAL, PREWIRED 3 FT IN/OUTDOOR COMPLETE Part Number -103-6879
$175.41
140202 M35 BB 3/4" X 9" BRONZE BARE Part Number - 101-6838 $77.93 140203 M35 ORION ME/REG ONLY,3/4" HRE-LCD PLASTIC SHROUD Part Number - 103-6692 $112.59 140204 M55 BB 1" X 10 3/4 BRONZE BOTTOM 9 DIAL, PLASTIC SHROUD HRE-LCD COMPLETE Part Number - 103-6881
$255.23
140205 M55 BB 1" X 10 3/4 LL BRONZE BOTTOM BARE Part Number - 100-8665 $125.52 140206 M55 ORION ME/REG ONLY 1" HIGH VOLUME, 55 GPM HRE-LCD PLASTRIC SHROUD Part Number - 103-6695
$129.71
140207 M70 BB 1" X 10 3/4 BRONZE 9 DIAL, PREWIRED 3 FT IN/OUTDOOR COMPLETE Part Number - 103-6883
$281.37
140208 M70 BB 1" X 10 3/4 BRONZE BARE Part Number - 100-6147 $152.04 140209 M70 ORION ME/REG ONLY 1" HIGH VOLUME, 70 GPM HRE-LCD PLASTIC SHROUD Part Number - 103-6699
$129.71
140211 ER09 SERVICE ASSEMBLY FOR PLMT Part Number - 65848-003 $288.41 140212 SEAL PLUG, CALIBRATION SHAFT 1 1/2" X 4" Part Number - 62793-001 $2.73 140691 CHECK VALVE 2" C89833, MILWAUKEE Part Number- 26506-031 $227.51 140692 CHECK VALVE 2" MILWAUKEE UL/FM Part Number - 26506-018 $145.61 140693 VALVE ASSEMBLY 3" CS400 S KIT Part Number - 64066-002 $98.84 140694 VALVE ASSEMBLY 4" CS800 S KIT Part Number - 64131-002 $117.67 140695 VALVE ASSEMBLY 6" CS1500 S KIT Part Number - 64134-002 $141.22 140700 HEAD ASSEMBLY 3" TURBO SERIES LL BARE METER Part Number - 63010-026 $465.49 140701 HEAD ASSEMBLY 4" TURBO SERIES LL BARE METER Part Number - 63010-027 $481.16 140702 HEAD ASSEMBLY 6" TURBO SERIES LL BARE METER Part Number - 63010-028 $1,490.58 140703 HEAD ASSEMBLY 8" TURBO SERIES LL BARE METER Part Number - 63010-018 $1,501.03 140704 HEAD ASSEMBLY 10" TURBO SERIES LL BARE METER Part Number - 63010-030 $2,034.50 140705 HEAD ASSEMBLY 12" TURBO SERIES LL BARE METER Part Number - 63010-012 $1,966.51 140740 SCREEN 2"-3" CS400 Part Number - 64081-001 $1.89 140741 SCREEN 4"-6" CS800 & CS1500 Part Number - 64142-001 $2.13 148600 O-RING EPDM 3" 1.299 ID x .103W Part Number - 64083-002 $0.71 148605 O-RING EPDM 4" 1.612 ID x .103W Part Number - 64083-008 $0.71 148615 O-RING EPDM 4" 8.487 ID X .103W Part Number - 64803-009 $8.94 148620 O-RING EPDM 6" 1.609 ID X .139 W Part Number - 64803-010 $0.71 148625 O-RING EPDM 6" 10.484 ID X .139 W Part Number - 64803-011 $8.94 148601 O-RING EPDM 3" 6.987 ID X .103 W Part Number - 64803-003 $7.07 148630 O-RING 3" 122MM ID X 4MM Part Number - 62754-003 $5.65 148635 O-RING 6" 172MM X 5MM Part Number - 62754-004 $17.89 140090 ASSEMBLY,3" M-25 CHAMBER & DISC Part Number - 33334-023 $34.84 DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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140095 ASSEMBLY,4" M-35 CHAMBER & DISC SST-TR SER Part Number - 33334-056 $65.90 140210 METER WATER DISC SERIES - Bronze 5/8" X 3/4" Part Number - 103-6887 $152.20 140220 METER WATER DISC SERIES EP, M25 3/4"(9) Part Number - 103-6886 $161.53 140240 METER, M120 BARE, DISC, M120 1-1/2"-ELL DR W/TP, 430SS Part Number - 100-6161 $365.30 140250 METER WATER - DISC SERIES - Bronze 2" Part Number - 103-6914 $465.07 140470 METER TURBO CU/FT MODEL-WP 4" Part Number - 103-6917 $1,102.94 140490 METER BARE, TURBO, LL SERIES 6", ROUND W/TEST PLUG Part Number - 100-7722 $2,505.76 140500 METER, TURBO 8" ROUND LL W/TEST PLUG, LESS CONNECTIONS ORION, PLASTIC SHROUD Part Number - 103-6920
$2,736.21
140505 METER, TURBO 10" ROUND LL W/TEST PLUG, LESS CONNECTIONS ORION, PLASTIC SHROUD Part Number - 103-6923
$3,888.28
140510 METER, TURBO 12" ROUND LL W/TEST PLUG, LESS CONNECTIONS ORION, PLASTIC SHROUD Part Number - 103-6926
$4,185.36
140660 METER 3", COMPOUND LL, ROUND W/TEST PLUG ORION, PLASTIC SHROUD Part Number - UM1-0019-3701
$1,576.09
140670 METER 4", COMPOUND LL, ROUND W/TEST PLUG ORION, PLASTIC SHROUD Part Number - UM1-0019-3702
$2,645.12
140680 METER 6", COMPOUND LL, ROUND W/TEST PLUG ORION, PLASTIC SHROUD Part Number - UM1-0019-3703
$3,684.47
140690 METER 8", ROUND LESS CONNECTIONS HRE-LCD, PLASTIC LID ORION Part Number - UM1-0019-3704
$5,258.34
140815 FIRE SERIES METER 4", RCDL, LL W/STRAINER, PLASTIC SHROUD Part Number - 103-6876
$2,973.77
140817 FIRE SERIES METER 6", RCDL, LL W/STRAINER, PLASTIC SHROUD Part Number - 103-6895
$4,280.39
140819 FIRE SERIES METER 8", RCDL, LL W/STRAINER, PLASTIC SHROUD Part Number - 103-6899
$5,349.43
140821 FIRE SERIES METER 10", RCDL, LL W/STRAINER, PLASTIC SHROUD Part Number - 103-6903
$6,537.26
140835 FIRE SERIES ASSEMBLY 4", RCDL, LL W/STRAINER, PLASTIC SHROUD Part Number - UM1-0019-3705
$5,495.91
140837 FIRE SERIES ASSEMBLY 6", RCDL, LL W/STRAINER, PLASTIC SHROUD Part Number - UM1-0019-3706
$7,515.21
140839 FIRE SERIES ASSEMBLY 8", RCDL, LL W/STRAINER, PLASTIC SHROUD Part Number - UM1-0019-3707
$10,009.66
140841 FIRE SERIES ASSEMBLY 10", ROUND, RCDL, LL W/STRAINER, PLASTIC SHROUD Part Number - UM1-0019-3708
$14,514.36
140843 FIRE SERIES ASSEMBLY 10" X 12", ROUND, RCDL, LL W/STRAINER, PLASTIC SHROUD Part Number - UM1-0019-3709
$15,618.46
140706 MAGNETIC FLOW METER + TRANSMITTER, 4", M2000 FLANGED, ORION FHSS Part Number - 100-0016
$1,638.94
140707 MAGNETIC FLOW METER + TRANSMITTER, 6", M2000 FLANGED, ORION FHSS Part Number - 100-0001
$1,876.50
140708 MAGNETIC FLOW METER + TRANSMITTER, 8", M2000 FLANGED, ORION FHSS Part Number - 100-0022
$2,161.58
140709 MAGNETIC FLOW METER + TRANSMITTER, 10", M2000 FLANGED, ORION FHSS Part Number - 103-4853
$2,684.22
140710 MAGNETIC FLOW METER + TRANSMITTER, 12", M2000 FLANGED, ORION FHSS Part Number - 103-6981
$3,396.92
140720 METER, FIRE HYDRANT + TRANSMITTER, 3" PORT, 316 SS BOLTS, Part Number -.
PT1-0000-0603
$805.14
140900 STRAINER, 3" EXTERNAL PLATE, ROUND W/DRAIN PLUG LL BRONZE Part Number - 103-6906
$486.46
140901 STRAINER, 4" EXTERNAL PLATE, ROUND W/DRAIN PLUG LL BRONZE Part Number - 103-2853
$582.59
DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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140903 STRAINER, 6" EXTERNAL PLATE, ROUND W/DRAIN PLUG LL BRONZE Part Number - 101-9753
$961.59
140905 STRAINER, 8" EXTERNAL PLATE, ROUND W/DRAIN PLUG LL BRONZE Part Number - 100-8315
$1,213.28
140907 STRAINER, 10" EXTERNAL PLATE, ROUND W/DRAIN PLUG LL BRONZE Part Number - 100-8316
$2,285.15
140909 STRAINER, 12" EXTERNAL PLATE, ROUND W/DRAIN PLUG LL BRONZE Part Number - 100-8317
$2,799.88
140085 REDUCER, NIPPLE 2-1/2 " - 7-1/2" N H Part Number - 25724-000 $95.19 140086 COUPLING, SWV 2-1/2 - 7-1/2 " W/OUT SCREEN Part Number - 63180-001 $157.25 140200 BIT TORX HEAD BADGER Part Number - 62657-001 $3.39 140224 METER, M25 BARE, LL BRONZE 5/8 X 3/4 - 3/4 BORE, 3/4 X 7-1/2 Part Number - 100- 6136
$39.62
140225 METER WATER M25 3/4"(9), PL Btm, Part Number - 103-6886 $48.94 140240 METER, M120 BARE, DISC 1-1/2" ELLIPTICAL LONG DRILLED W/TEST PLUG Part Number - 100-6161
$254.54
140490 METER BARE, TURBO, LL SERIES 6", ROUND W/TEST PLUG Part Number - 100-7722 $2,382.79 140491 METER BARE, TURBO, LL SERIES 8", ROUND W/TEST PLUG Part Number - 100-7912 $2,613.23 140492 METER BARE, TURBO, LL SERIES 10", ROUND W/TEST PLUG Part Number - 100-8184 $3,765.30 140493 METER BARE, TURBO, LL SERIES 12", ROUND W/TEST PLUG Part Number - 103-6848 $4,062.38 140650 METER BARE, COMPOUND LL SERIES 3", ROUND W/TEST PLUG Part Number - UM1-0000-6055
$1,306.60
140651 METER BARE, COMPOUND LL SERIES 4", ROUND W/TEST PLUG Part Number - UM1-0000-6056
$2,375.65
140653 METER BARE, COMPOUND LL SERIES 6", ROUND W/TEST PLUG Part Number - UM1-0000-6237
$3,415.01
140655 METER BARE, COMPOUND LL SERIES 8", ROUND W/TEST PLUG Part Number - UM1-0006-1424
$4,988.88
140830 METER BARE, FIRE SERIES 4" RCDL, LL ROUND EXTERNAL STRAINER Part Number - 103-6856
$2,850.79
140831 METER BARE, FIRE SERIES 6" RCDL, LL ROUND EXTERNAL STRAINER, Part Number - 103-6894
$4,157.39
140832 METER BARE, FIRE SERIES 8" RCDL, LL ROUND EXTERNAL STRAINER Part Number - 103-6898
$5,226.44
140833 METER BARE, FIRE SERIES 10" RCDL, LL ROUND EXTERNAL STRAINER Part Number - 103-6902
$6,414.28
140850 METER BARE FIRE ASSEMBLY, 4" RCDL, LL ROUND EXTERNAL STRAINER Part Number - UM1-0019-3710
$5,226.44
140851 METER BARE FIRE ASSEMBLY, 6" RCDL, LL ROUND EXTERNAL STRAINER Part Number - UM1-0019-3711
$7,245.75
140852 METER BARE FIRE ASSEMBLY, 8" RCDL, LL ROUND EXTERNAL STRAINER, Part Number - UM1-0019-3712
$9,740.19
140853 METER BARE FIRE ASSEMBLY, 10" RCDL, LL ROUND EXTERNAL STRAINER Part Number - UM1-0019-3713
$14,253.94
140854 METER BARE FIRE ASSEMBLY, 10" X 12" RCDL, LL ROUND EXTERNAL STRAINER Part Number - UM1-0019-3714
$15,450.81
140920 REGISTER, M25 DISC METER 5/8" X 3/4" X 7.5" LAY LENGTH HRE-LCD PLASTIC SHROUD Part Number - 102-6511
$112.59
140921 REGISTER, M35 DISC METER 3/4" X 9" LAY LENGTH HRE-LCD PLASTIC SHROUD Part Number - 103-6911
$112.59
140922 REGISTER, M120 DISC METER 1-1/2" HRE-LCD PLASTIC SHROUD Part Number - 103- 6927
$122.98
140923 REGISTER, M170 DISC METER 2" HRE-LCD PLASTIC SHROUD Part Number - 103-6929 $122.98 140924 REGISTER, TURBO METER 4" HRE-LCD PLASTIC SHROUD Part Number - 103-6931 $122.98 140925 REGISTER, TURBO METER 6" HRE-LCD PLASTIC SHROUD Part Number - 103-6932 $122.98 DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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140926 REGISTER, TURBO METER 8" HRE-LCD PLASTIC SHROUD Part Number - 103-6934 $122.98 140927 REGISTER, TURBO METER 10" HRE-LCD PLASTIC SHROUD Part Number - 103-6936 $122.98 140928 REGISTER, COMPOUND METER 3" HRE-LCD PLASTIC SHROUD - Low Part Number - 103-6938
$134.72
NEW REG 4, 3"CSM HI, HR-E LCD Part Number - 103-6941 $134.72 140929 REGISTER, COMPOUND METER 4" HRE-LCD PLASTIC SHROUD - Low Part Number - 103-6943
$134.72
NEW REG 4, 4"CSM HI, HR-E LCD Part Number - 103-6945 $134.72 140930 REGISTER, COMPOUND METER 6" HRE-LCD PLASTIC SHROUD Low Part Number - 103-6947
$134.72
NEW REG 4, 6"CSM HI, HR-E LCD Part Number - 103-6949 $134.72 140931 REGISTER, COMPOUND METER 8" HRE-LCD PLASTIC SHROUD Low Part Number - 103-6950
$134.72
NEW REG 4, 8"CSM HI, HR-E LCD Part Number - 103-6952 $134.72 140934 REGISTER, FIRE SERIES METER 4" HRE-LCD PLASTIC SHROUD Part Number - 103- 6966
$122.98
140935 REGISTER, FIRE SERIES METER 6" HRE-LCD PLASTIC SHROUD Part Number - 103- 6968
$122.98
140936 REGISTER, FIRE SERIES METER 8" HRE-LCD PLASTIC SHROUD Part Number - 103- 6970
$122.98
140937 REGISTER, FIRE SERIES METER 10" HRE-LCD PLASTIC SHROUD Part Number - 103- 6972
$122.98
140940 REGISTER, FIRE ASSEMBLY METER 4" HRE-LCD PLASTIC SHROUD Part Number - UM1-0019-3715
$269.44
140941 REGISTER, FIRE ASSEMBLY METER 6" HRE-LCD PLASTIC SHROUD Part Number - UM1-0019-3716
$269.44
140942 REGISTER, FIRE ASSEMBLY METER 8" HRE-LCD PLASTIC SHROUD Part Number - UM1-0019-3717
$269.44
140943 REGISTER, FIRE ASSEMBLY METER 10" HRE-LCD PLASTIC SHROUD Part Number - UM1-0019-3718
$269.44
140944 REGISTER, FIRE ASSEMBLY METER 10" X 12" HRE-LCD PLASTIC SHROUD Part Number - UM1-0019-3719
$269.44
140960 FIRE HYDRANT ORION ENDPOINT GUARD KIT Part Number - 68874-001 $123.71 140961 ENDPOINT, LTE-M W/INSTALLATION KIT Part Number - 100-1137 $91.26 140100 METER, ULTRASONIC SS 5/8 X 3/4 X 7.5 Part Number - 103-6973 $138.35 140105 METER, ULTRASONIC SS 3/4 X 7.5 Part Number - 103-6974 $160.40 140110 METER, ULTRASONIC SS 3/4 X 9 Part Number - 103-6975 $170.43 140115 METER, ULTRASONIC SS 1 X 10-3/4 Part Number - 100-4097 $185.46 140120 METER, ULTRASONIC SS 1-1/2 X 13 Part Number - 103-6982 $330.83 140125 METER, ULTRASONIC SS 2 X 17 Part Number - 103-6976 $441.10 140130 METER, ULTRASONIC SS 3 X 12 Part Number - 103-6977 $1,414.03 140135 METER, ULTRASONIC SS 3 X 17 Part Number - 103-6978 $1,433.58 140140 METER, ULTRASONIC SS 4 X 14 Part Number - 103-6979 $1,724.80 140145 METER, ULTRASONIC SS 4 X 20 Part Number - 103-6980 $1,744.35 SHIPPING POINT IS FCA FACTORY, NO CHARGE. ANY FREIGHT/DELIVERY CHARGES SHALL BE INCLUDED IN THE UNIT PRICE.
PRICING IS NET TO THE CITY, EXCLUSIVE OF FEDERAL EXCISE TAX, CALIFORNIA STATE, LOCAL, SALES AND USE TAX.
DUE TO CONTINUOUS IMPROVEMENTS AND REDESIGN OF BADGER PRODUCTS AND TECHNOLOGY SOLUTIONS,
BADGER RESERVES THE RIGHT TO PROVIDE OUR NEWEST PRODUCT SOLUTIONS AS AN ALTERNATIVE TO THE DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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PROPOSED PRODUCTS PROVIDED THEY ARE IN CONFORMANCE WITH THE REQUIREMENTS OF THE SPECIFICATIONS AND DO NOT EXCEED THE PRICES QUOTED.
CITY OF MODESTO SALES TAX RATE 7.875%
PAYMENT TERMS: NET 30
VENDOR CONTACT: NAME: BRIAN HELPHAND
PHONE # 916-521-0390
EMAIL: [email protected]
ORDER PLACEMENT: NAME: CUSTOMER SERVICE
PHONE # 800-876-3837
EMAIL: [email protected]
DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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EXHIBIT A
GENERAL TERMS & CONDITIONS
ANNUAL PURCHASE AGREEMENT NO. 197017
PURCHASE OF BADGER WATER METERS, METER READERS & RELATED PARTS Badger Meter Terms and Conditions of Sale
1. Definitions. “Buyer” means the party purchasing goods or services pursuant to these Terms and Conditions of Sale (“Terms and Conditions”). “Badger Meter” means Badger Meter, Inc., a Wisconsin corporation. “Goods” means the Badger Meter goods and/or services sold or otherwise provided pursuant to these Terms and Conditions.
2. Controlling Provisions.
Generally. This document, including the provisions in Badger Meter's quotation, proposal, price list, acknowledgment and invoice, and Badger Meter's Limited Warranties described in Section 12 (the "Agreement") constitutes an offer by Badger Meter to provide the Goods to Buyer. If this document is deemed an acceptance of a prior offer by Buyer, such acceptance is limited to the express terms contained in this Agreement. Buyer's acceptance of this offer is limited to the terms, covenants and conditions contained in this offer. Badger Meter hereby objects to and rejects any additional, different or varying terms proposed by Buyer, regardless of whether or when Buyer submitted its purchase order or such terms. Such proposal of additional, different or varying terms by Buyer shall not operate as a rejection of Badger Meter's offer, and Badger Meter's offer shall be deemed accepted without such additional, different or varying terms. Fulfillment of Buyer's order does not constitute acceptance of Buyer's terms and conditions and does not serve to modify this Agreement. THIS AGREEMENT
CONSTITUTES THE FINAL EXPRESSION OF THE AGREEMENT BETWEEN BADGER METER
AND BUYER REGARDING THE GOODS AND IT IS A COMPLETE AND EXCLUSIVE STATEMENT OF THAT AGREEMENT. ANY TERMS, CONDITIONS, NEGOTIATIONS OR UNDERSTANDINGS
WHICH ARE NOT CONTAINED IN THIS AGREEMENT SHALL HAVE NO FORCE OF EFFECT
UNLESS MADE IN WRITING AND SIGNED BY BUYER AND AN AUTHORIZED OFFICER OF BADGER METER. Badger Meter's sales representatives do not have authority to change this Agreement.
Badger Meter reserves the right to correct clerical errors in its documents. It is the express wish of the parties that this document and any related documents be drafted in English. The parties agree that in case of any discrepancy between interpretation of the German and English version of this contract, the English version (wording) shall prevail.
Acceptance. Buyer shall be deemed to have made an unqualified acceptance of this offer and the Agreement on the earliest of the following to occur: (a) Badger Meter's receipt of a copy of this Agreement (or any document incorporating this Agreement) signed by Buyer, (b) Buyer's order of Goods after receiving notice of this Agreement, (c) Buyer's payment of any amounts due under this Agreement, (d) Buyer's delivery to Badger Meter of any material to be furnished by Buyer, (e) Badger Meter's delivery of the Goods following Buyer's order, (f) Buyer's failure to notify Badger Meter to the contrary within ten (10) days of receipt of this Agreement, or (g) any other event constituting acceptance under applicable law.
3. Storage. If the Goods are not shipped within fifteen (15) days after notification to Buyer that they are ready for shipping, for any reason beyond Badger Meter’s reasonable control, including without limitation Buyer’s failure to give shipping instructions, Badger Meter may store such Goods, at Buyer’s risk, in a warehouse or yard located on Badger Meter’s premises, and Badger Meter may at its sole discretion charge Buyer and Buyer DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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shall pay all handling, transportation and storage costs at the prevailing commercial rates upon submission of invoices on the stored Goods.
4. Prices. Unless stated otherwise in a governing quotation or tender, prices are stated and payable in U.S. dollars or Euros FCA Badger Meter's Facility (pursuant to Incoterms 2010 of the International Chamber of Commerce, as amended or restated from time to time ["Incoterms"]). All prices are subject to change based on Badger Meter's selling prices in effect as of the date of shipment. Quoted prices are firm for acceptance, via an order, within the effective dates provided in the quote, shipping within sixty (60) days past the expiration of the quote. Prices quoted for blanket orders are subject to review and retroactive adjustment, if necessary, based on actual quantities shipped. Written quotations are void unless accepted within the effective dates listed on the quotation and are subject to earlier change upon notice from Badger Meter. Other Badger Meter publications are maintained as sources of information and are not quotations or offers to sell.
5. Taxes. All prices are exclusive of all sales, use, value added, customs and excise taxes, and any other taxes, duties, fees and charges of any kind imposed by any governmental authority in connection with this Agreement. Buyer shall pay or reimburse Badger Meter on demand for all such taxes, duties, fees and charges but Buyer shall not be responsible for any taxes imposed on, or with respect to, Badger Meter's income.
6. Title and Risk of Loss. All Goods are shipped F.C.A. Badger Meter's Facility (pursuant to Incoterms 2010 of the International Chamber of Commerce, as amended or restated from time to time). Buyer is responsible for all delivery charges for Goods. Title and risk of loss or damage to Goods passes to Buyer when Goods are moved from Badger Meter’s dock into the conveyance vehicle for transport.
7. Payment Terms. Buyer shall pay all invoices within thirty (30) days of the invoice date. Badger Meter reserves the right to establish credit limits for Buyer and may require full or partial payment prior to shipment of any Goods or commencement of any services provided hereunder. All payments shall be made via payment methods allowed by Badger Meter according to instructions provided by Badger Meter. For Buyers outside the U.S., Badger Meter may require cash in advance or a Letter of Credit for payment or security in a form acceptable to Badger Meter. If Buyer does not pay Badger Meter any amount due under this Agreement or any other Agreement when such amount is due or if Buyer defaults in the performance of this Agreement, Badger Meter may, without incurring liability to Buyer and without prejudice to Badger Meter's other lawful remedies (a) terminate Badger Meter's obligations under this Agreement, (b) declare immediately and due payable all Buyer's obligations to Badger Meter, (c) change credit terms with respect to any further work or deliveries, (d) suspend or discontinue any further work or deliveries and/or (e) repossess the Goods. Buyer agrees to reimburse Badger Meter for all costs and fees including, without limitation, attorneys' fees and repossession fees incurred by BadgerMeter in collecting any sum owed by Buyer to Badger Meter. Any invoices which Buyer does not pay within the time provided in this Agreement shall bear interest at the lower of (i) one and a half percent (1.5%) per month up to a maximum of eighteen percent (18%) per year; or (ii) the highest rate permitted by applicable law.
Buyer shall not set off amounts due to Badger Meter against claims against Badger Meter.
8. Packaging. Badger Meter reserves the right to select the manner in which Goods are packaged.
Special requirements for packing will be subject to extra charges.
9. Delivery. Shipping dates and completion dates quoted by Badger Meter are made in good faith but are not guaranteed; Badger Meter reserves the right to extend shipping dates as it deems necessary in its sole discretion, without incurring liability to Buyer and to make delivery in installments. Time for delivery shall not be of the essence. In the absence of shipping instructions from Buyer, Badger Meter will use its discretion as to the selection of shipping services and routings. Installation of Goods is the responsibility of the Buyer unless otherwise agreed in writing. If Badger Meter agrees to ship F.C.A. Other U.S. locations (pursuant to Incoterms) within the United States (U.S.), upon receipt of shipment, Buyer must inspect the goods for damage, shortage, or DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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nonconformance. Buyer will make note of damage on the carrier’s delivery receipt. Claims for shortages or other errors must be made in writing to Badger Meter within seven (7) days after receipt of shipment and claims for concealed damage must be made to Badger Meter within fifteen (15) days after receipt of shipment. Failure to give such notice shall constitutes unqualified acceptance and a waiver of all such claims by Buyer. When the Buyer’s carrier and account are used for transit, the Buyer shall be responsible for any claims made for visible and concealed damage and/or loss of partial or complete shipment.
10. Force Majeure. Badger Meter shall not be liable or responsible to Buyer, nor be deemed to have defaulted or breached this Agreement, for any failure or delay in fulfilling or performing any term of this agreement when and to the extent such failure or delay is caused by or results from acts or circumstances beyond the reasonable control of Badger Meter including, without limitation, acts of God, terrorism, health-related events (i.e. virus), acts of Buyer, embargo or other governmental act, regulation or request, fire, accident, strike, slow-down, war, riot, delay in transportation, delayed delivery by suppliers, or inability to obtain necessary labor and materials. In the event of any such delay, the date of delivery shall be extended for a period equal to the time lost by reason of the delay.
11. Orders; Changes and Cancellations. Buyer's orders or mutually agreed change orders shall be subject to all provisions of this Agreement, whether or not the order or change order so states. No order shall be binding upon Badger Meter until received and accepted by Badger Meter in its sole discretion. Minimum order value is $200 U.S.D. or EUR 200. Orders submitted to Badger Meter may not be cancelled or amended, or deliveries deferred, by Buyer except with Badger Meter's prior written consent, and then only upon such terms as shall be acceptable to Badger Meter on a product by product basis. In the event of cancellation of an order by Buyer, Buyer shall pay Badger Meter's reasonable costs and expenses, plus Badger Meter's usual rate of profit for similar work, and all cancellation charges imposed by Badger Meter's suppliers. Neither Buyer’s acceptance of this offer nor any conduct by Badger Meter (including but not limited to shipment of Goods) will oblige Badger Meter to sell to Buyer any quantity of Goods in excess of the quantity that Buyer has committed to purchase from Badger Meter at the time of such acceptance or conduct. Due to continuous efforts to improve and redesign of our products and technology solutions, Badger Meter reserves the right to provide our newest product solutions as an alternative to the quoted or ordered Goods, provided they are in conformance with the requirements of any agreed specifications and do not exceed the prices quoted.
12. Limited Warranties.
Generally. Unless otherwise agreed in a writing signed by an authorized officer of Badger Meter, provided by Badger Meter in a written product-specific warranty or online at http://www.badgermeter.com/Company/Legal/Warranty-Policy.htm, or passed through by Badger Meter from the original equipment manufacturer, Badger Meter warrants the Goods supplied hereunder to be free from significant defects in material and workmanship under normal use and service for a period of 18 months from the date of shipment or 12 months from the date of installation, whichever period shall be shorter (“the Warranty Period”). This warranty applies only to the original purchaser of the Goods and does not apply to Goods that are the subject of negligence, accident, or damage by circumstances beyond Badger Meter’s control, or any improper operation, maintenance, storage, installation or use. This warranty does not apply to Goods or component parts that were not manufactured by Badger Meter and not covered by a Badger Meter or original equipment manufacturers written warranty, all of which are sold “AS IS” and without warranty by Badger Meter. This warranty applies only to covered defects that are discovered during the Warranty Period. Buyer'sfailure to provide Badger Meter with written notice of any alleged defect within ten (10) days after its discovery constitutes a waiver of the remedies specified herein. If Badger Meter receives timely notice, and if the Goods are proved to Badger Meter’s satisfaction to have a warranted defect, Badger Meter will, at its own discretion, expense and within a reasonable period of time, either (1) repair, correct or cure the warranted defect(s), or (2) replace the specific Goods at issue, or (3) give Buyer a refund of the price it paid for the Goods, prorated where appropriate to adjust DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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for the value of any conforming Goods or services accepted and retained by Buyer. Any parts of Goods repaired or replaced under warranty are warranted only for the balance of the Warranty Period on the original part that was repaired or replaced. These remedies shall be Buyer’s exclusive remedies (and the sole and exclusive liability of Badger Meter) for any defects or deficiencies relating to or arising out of Goods sold or services performed. All repairs are made on a C.P.T. factory basis (pursuant to Incoterms). THE WARRANTIES IN THIS SECTION
ARE THE ONLY WARRANTIES GIVEN WITH RESPECT TO GOODS SOLD OR OTHERWISE PROVIDED BY BADGER METER. BADGER METER EXPRESSLY DISCLAIMS ANY AND ALL
OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED OR OTHERWISE,
INCLUDING WITHOUT LIMITATION, WARRANTIES AS TO FITNESS FOR A PARTICULAR
PURPOSE, MERCHANTABILITY, NONINFRINGEMENT, AND ANY WARRANTIES ARISING FROM COURSE OF DEALING OR USAGE OF TRADE.
Buyer's Obligations. Buyer must satisfy the following obligations in order to be eligible for coverage by the applicable warranty. Prior to using or permitting use of the Goods, Buyer shall determine the suitability of the Goods for the intended use and Buyer assumes all risk and liability whatsoever in connection therewith. Buyer agrees that Badger Meter has no post–sale duty to warn Buyer or any other party about any matter or, if such duty exists, Badger Meter satisfies that duty by providing any required warnings only to Buyer. Buyer assumes all post–sale duty to warn its customers and indemnifies Badger Meter against any Losses (as defined in Section 17 below) in connection with such duty or failure to warn. Buyer agrees to test and evaluate Goods promptly upon receipt to ensure compliance with all specifications, quality requirements and other requirements of Buyer's application. Badger Meter does not guaranty the accuracy of information given and recommendations made as to suitability of Goods for Buyer's application or operating conditions. Nothing shall be construed to imply the nonexistence of any relevant patents or to constitute a permission, inducement or recommendation to practice any invention covered by any patent without authority from the patent owner.
13. Intellectual Property. No Intellectual Property (as defined below) is assigned to Buyer hereunder. Badger Meter shall own or continue to own all Intellectual Property used or created in the course of performing this Agreement. To the extent, if any, that any ownership interest in and to such Intellectual Property does not automatically vest in Badger Meter, and instead vests in Buyer, Buyer agrees to grant and assign and hereby does grant and assign to Badger Meter all right, title and interest that Buyer may have in and to such Intellectual Property. Buyer agrees not to reverse engineer any Goods purchased or provided hereunder. "Intellectual Property" means patents and patent applications, inventions, developments and discoveries, whether or not patentable or copyrightable, trademarks, service marks, trade dress, copyrights, trade secrets, designs, drawings, specifications, database rights, rights in and to confidential information and know-how, and any rights analogous to the same anywhere in the world and existing at any time in the Goods or arising out of or relative to the design or manufacture of the Goods or the provision of services, and all other Intellectual Property and proprietary rights.
Any use of Badger Meter's or its affiliates' or suppliers' trademarks in advertisements or promotion must be preapproved in writing by Badger Meter. Buyer agrees to take all steps which Badger Meter may from time to time consider to be necessary to perfect or protect Badger Meter's or its affiliates' or suppliers' rights in Badger Meter's Intellectual Property including, without limitation, executing all necessary assignments, declarations, and other documents requested by Badger Meter from time to time. Upon expiration or termination of this Agreement for any reason, Buyer shall take such steps and execute such documents as Badger Meter requests to cause Badger Meter or its affiliates or suppliers to own all rights in the Intellectual Property and to terminate any rights Buyer or its affiliates may have to use the Intellectual Property. Buyer shall inform Badger Meter promptly of any potential or actual infringement of any of Badger Meter's or its affiliates' or suppliers' Intellectual Property and shall provide all assistance and information required by Badger Meter, at Badger Meter's expense, in connection with any such infringement.
14. Compliance with Laws. Buyer agrees to familiarize itself with and comply with all laws and regulations now or hereafter in effect and applicable to the purchase, transport, use, supply, storage, sale, offer for sale, lease DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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and/or disposal of the Goods ("Laws") including, without limitation, to the extent applicable, the U.S. Foreign Corrupt Practices Act and all other anti-bribery laws, all U.S. anti-boycott laws, and the U.S. Export Administration Act and all regulations thereunder. If Buyer or its affiliates, agents or representatives engages a freight forwarder or similar service provider, Buyer shall provide Badger Meter with copies of freight forwarder (or similar) records regarding Goods exports promptly upon request.
Buyer shall promptly notify Badger Meter in writing if Buyer receives notice of or otherwise has reason to believe that a violation of any applicable trade laws has occurred or is likely to occur. Buyer assumes all risk with respect to compliance of Goods with applicable Laws (including without limitation all environmental laws in any jurisdiction).
Buyer acknowledges that certain Goods may have restrictions on who can purchase, transport, use, supply, store, sell, offer for sale, lease and/or dispose of ("Actions") the Goods and on how and where such Actions may take place. Buyer agrees to be responsible for determining who may take such Actions and how and where such Actions may take place after Badger Meter's delivery hereunder, and further agrees to ensure that its customers comply with such requirements.
By accepting this Agreement, Buyer confirms that:
Buyer understands that Goods provided by Badger Meter are subject to U.S. export control laws and regulations, including, without limitation, the International Traffic in Arms Regulation (ITAR) or the Export Administration Regulations;
Buyer will comply with all applicable U.S., EU, and UN laws and regulations and any other laws, regulations, or orders of similar effect enforced any other applicable jurisdiction whenever we export, re-export, or transfer Product(s) acquired from Badger Meter, insofar as it does not infringe any applicable anti-boycott rule, and acknowledges that the controlling laws and regulations may be amended from time to time; Buyer acknowledges that U.S. law prohibits the sale, transfer, export, re-export, or participation in any export transaction involving Badger Meter’s Goods with individuals or companies listed in the United Nations Financial Sanctions List, Consolidated List of Persons, Groups, and Entities Subject to EU Financial Sanctions, U.S. Department of Commerce’s Denied Persons List, Entity List, or Unverified List; the U.S. Department of State Nonproliferation Sanctions, AECA Debarred List; U.S. Department of Treasury’s Specially Designated Nationals, Foreign Sanctions Evaders List, Sectoral Sanctions Identifications (SSI) List, Palestinian Legislative Council (PLC) List, The List of Foreign Financial Institutions Subject to Part 561 List, and Blocked Persons Lists; and any additional lists added by the U.S. Government. Buyer will not transfer, export, or re-export, directly or indirectly to any party identified on a restricted party list published by the U.S. government, European Union, or any other government, or to any party otherwise prohibited under any applicable law from receiving Badger Meter Goods;
Buyer will not use, sell, transfer, export or re-export Badger Meter Goods for use in any activity related to the development, production, use, stockpiling, maintenance, or proliferation of weapons of mass destruction, including, without limitation, uses related to nuclear, chemical or biological weapons (i.e. the nuclear, chemical or biological materials/substances themselves could be used in weapons and/or the weapon delivery systems for those materials/substances) (“Weapons”), and that Buyer will not transfer, divert, export, or re-export, directly or indirectly, Goods, including any products developed or manufactured using Badger Meter’s Goods, to any party engaged in any such activity. nor use such Goods in any facilities that are engaged in activities related to such Weapons. This restriction also includes, but is not limited to:
o nuclear explosive activities, safeguarded and unsafeguarded nuclear activities o rocket systems or unmanned air vehicles
o maritime nuclear propulsion;
DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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If Buyer is subsequently engaged in the use, development, production, transfer, export or re-export of any Badger Meter Goods, Buyer acknowledges that it may be subject to and responsible for the export licensing requirements of the U.S. government or any other government; Buyer acknowledges that it may receive Goods from Badger Meter exported under a written authorization from the U.S. government or any other government and acknowledge that it may be subject to and responsible for conditions subject to this written authorization and/or be subject to and responsible for the re-export licensing requirements applicable to the U.S. government’s or any other government’s written authorization; Buyer will comply with all applicable laws and regulations whenever Buyer transfers, exports, or reexport Goods obtained from Badger Meter, and Buyer acknowledges that the controlling laws and regulations may be amended from time to time; and
Buyer will provide Badger Meter with information regarding end-user, end-use, and country of ultimate destination if purchasing Badger Meter Goods for anything other than stock inventory.
15. Customer Validation. Badger Meter reserves the right to determine OEM qualifications of any and all buyers to request end customer invoicing in situations where project pricing may have been granted by the factory.
Badger Meter reserves the right to determine market definition of any and all buyers and to employ third-party sources, including SIC codes, and/or information about the application or products purchased to determine market definition.
16. Nuclear Disclaimer. The Goods are not intended for use in connection with any nuclear facility or activity unless covered by a specific quotation where the conditions of such usage will be detailed. If the Goods are used in a nuclear facility or activity without a supporting quotation, Badger Meter disclaims all liability for any damage, injury or contamination and Buyer shall indemnify and hold Badger Meter, its shareholders, directors, officers, agents, employees, successors, assigns and customers, whether direct or indirect, harmless from and against any and all Losses (as defined in Section 17) which they, or any of them, may sustain or incur, whether as a result of breach of contract, warranty, tort (including negligence), strict liability or other theories of law, by reason of such use. The foregoing shall not be deemed to imply or impose liability on Badger Meter where the Goods are used in a nuclear facility or activity with a supporting quotation; all limitations and exclusions in this Agreement and in Badger Meter's Limited Warranty shall apply.
17. Limitation of Liability.
Cap on Liability. Badger Meter’s aggregate liability in any and all claims and causes of action arising under, out of or in relation to this Agreement, its negotiation, performance, breach or termination (collectively “Causes of Action”) shall not exceed the total amount paid by Buyer to Badger Meter under this Agreement, whether the Causes of Action are in tort including, without limitation, negligence or strict liability, in contract, under statute or otherwise.
Limitation and Exclusion of Damages. AS A SEPARATE AND INDEPENDENT LIMITATION ON LIABILITY, BADGER METER’S LIABILITY SHALL BE LIMITED TO DIRECT DAMAGES.
BADGER METER SHALL NOT BE LIABLE FOR: (I) ANY CONSEQUENTIAL, INDIRECT,
INCIDENTAL, SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES, DIRECT OR INDIRECT LOST
PROFITS OR REVENUES OR DIMINUTION IN VALUE, SHUTDOWN OR SLOWDOWN COSTS, OR
LOSSES RELATING TO COLLATERAL CONTRACTS, ARISING OUT OF OR RELATING TO ANY
BREACH OF THIS AGREEMENT, WHETHER OR NOT THE POSSIBILITY OF SUCH DAMAGES
HAS BEEN DISCLOSED IN ADVANCE BY BUYER OR COULD HAVE BEEN REASONABLY DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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FORESEEN, REGARDLESS OF THE LEGAL OR EQUITABLE THEORY (CONTRACT, TORT OR
OTHERWISE) UPON WHICH THE CLAIM IS BASED, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED OR OTHER REMEDY OF ITS ESSENTIAL PURPOSE; (II) ANY IN/OUT COSTS; (III) ANY MANUAL METER READING COSTS AND EXPENSES NOR (IV) ANY COSTS AND
EXPENSES TO REMOVE PRODUCT FOR WARRANTY ANALYSIS, OR RE-INSTALLATION COSTS AND EXPENSES; “IN/OUT COSTS” MEANS ANY COSTS OR EXPENSES INCURRED BY BUYER IN TRANSPORTING GOOD BETWEEN ITS WAREHOUSE AND ITS END USER’S PREMISES. “END USER” MEANS ANY END USER OF THE WATER OR GAS THAT PAYS BUYER FOR THE CONSUMPTION OF WATER OR GAS, AS APPLICABLE.
Limitations Unconditional. The limitations on liability set forth in this Agreement are fundamental inducements to Badger Meter entering into this Agreement. They apply unconditionally and in all respects. They are to be interpreted broadly so as to give Badger Meter the maximum protection permitted under law.
Limit on Actions. To the maximum extent permitted by law, no Cause of Action may be instituted by Buyer against Badger Meter more than twelve (12) months after the Cause of Action first arose. In the calculation of any damages in any Cause of Action, no damages incurred more than twelve (12) months prior to the filing of the Cause of Action shall be recoverable.
18. Indemnification. Buyer releases and agrees to defend, indemnify and hold harmless Badger Meter its shareholders, directors, officers, employees, agents, affiliates, successors, assigns and customers from and against all claims, liabilities, actions, causes of action, fines, penalties, judgments, demands, damages, losses, costs and expenses, including without limitation attorneys' fees and costs, and including damages arising from personal injury or death, in law or in equity, of every kind and nature whatsoever (collectively, “Losses”), arising out of (a) Buyer’s or its End User's use of the Goods, (b) breach of this Agreement by Buyer, (c) Buyer's or its End User's products, materials, performance, designs, approvals or instructions, (d) infringement of third party proprietary rights, except to the extent such Losses arise out of a breach of this Agreement by Badger Meter, (e) any violation of Buyer of any law, rule or regulation, (f) any negligence or willful misconduct of Buyer, or (g) any modifications or changes made to the Goods by or on behalf of any person other than Seller or its Representatives, if the infringement would have been avoided without such modification or change. Prior to settling any claims, Buyer will give Badger Meter an opportunity to participate in the defense and/or settlement of such claim. Buyer shall not settle any claim without Badger Meter's written consent. In the event of any recall affecting Goods, Badger Meter shall have the right to control the recall process and Buyer shall fully cooperate with Badger Meter in connection with the recall.
19. Confidentiality.
Generally. Buyer acknowledges that all Badger Meter Confidential Information (as defined below) which may be disclosed to it by Badger Meter or its affiliates or suppliers shall at all times, during and after expiration or termination of this Agreement for any reason, remain Badger Meter's exclusive property, and Buyer shall not acquire any proprietary interest whatsoever therein. Buyer shall (and shall cause its employees and contractors to) keep all Badger Meter Confidential Information strictly confidential and shall not disclose it to any third party or use it, except to the extent reasonably required to perform this Agreement or as required under applicable law, court order or regulation. As used herein “Badger Meter Confidential Information” means any and all non-public information of Badger Meter, including without limitation the terms of this Agreement, and all non-public data, specifications, equipment and product information, prototypes, drawings, technical information, engineering drawings, forecasts, sales data, “know-how”, designs, computer programs, processes, inventions, current and future (unreleased) products and technology, and confidential business information such as cost data, profit margins, sales strategies, supplier information, procurement requirements, employee information, customer preference or needs, customer data and employee capabilities which are not available to the public, unpublished DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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U.S. and foreign patent applications, invention disclosure forms, all technical information about products or services, pricing information, marketing and marketing plans, Goods performance, Goods architecture and design, other business and financial information, software, third party information Badger Meter is required to keep confidential, any materials derived from or based upon Badger Meter Confidential Information, and all trade secrets. Badger Meter Confidential Information may be transmitted orally, in writing, electronically or otherwise observed by Buyer. Notwithstanding the foregoing, “Badger Meter Confidential Information” shall not include:
(i) any information that is in the public domain other than due to Buyer’s breach of this Agreement; or (ii) any information Buyer can demonstrate by documentary evidence was in the possession of the Buyer without restriction prior to disclosure by Badger Meter. Upon expiration or termination of this Agreement for any reason, and otherwise upon Badger Meter’s request, Buyer shall, within fifteen (15) days surrender to Badger Meter all plans, drawings, specifications, sketches, literature, samples, documents and other tangible objects and copies thereof relating to Badger Meter Confidential Information and all of Badger Meter's or its affiliates' or suppliers' property. Nothing in this Agreement shall be construed to limit or negate the common or statutory law of torts or trade secrets where it provides Badger Meter, its affiliates or suppliers with broader protection than that provided herein.
Engineering Data. All engineering data, design information and engineering and shop drawings used in the completion of Buyer's order are and shall remain Badger Meter's property. Buyer shall not copy, distribute or communicate to any third party such data without Badger Meter's prior written permission. However, Buyer shall distribute appropriate product data regarding operation, safety and maintenance to the end user.
Personal Information Safeguards. This Section will apply unless superseded by a prior agreement.
Under this Agreement, Badger Meter will not receive, or have access to, use or store Personal Information (as defined below), unless otherwise notified by Buyer with written notice that such information is pertinent to the transaction. If however, Badger Meter receives, or has access to, uses or stores Personal Information under this Agreement, then this will apply (in addition to Section 18 [Confidentiality]). “Data Protection Law” means: (a) the Directive 95/46/EC of the European Parliament and of the Council of 24 October 1995 (as updated); (b) any other applicable data privacy legislation or regulation; and (c) Badger Meter’s privacy policy.
“Personal Information” means any information relating to an identified natural person or a directly or indirectly identifiable natural person.
To the extent Badger Meter receives, or has access to, uses or stores Personal Information under this Agreement, Badger Meter will:
immediately notify Buyer;
implement and maintain administrative, physical, and technical safeguards (“Safeguards”) that meet or exceed relevant industry standards and that protect the security and privacy of Personal Information. Badger Meter will not permit access to Personal Information except to those who need to know it in order to perform under this Agreement, and will ensure that any third party accessing Personal Information protect it with Safeguards at least as strong as Badger Meter’s Safeguards; upon Buyer’s instruction and in accordance with Badger Meter’s electric record retention policy, delete such Personal Information immediately or return it to Buyer in a secure manner and delete all remaining copies of Personal Information after such return and provide documentation of the deletion to Buyer; DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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not use the Personal Information for any other purpose than compliance with its’ obligations under this Agreement; and if Badger Meter has reason to believe that Personal Information is reasonably likely to have been accessed for an unauthorized purpose or by unauthorized persons (a “Breach”): (a) promptly notify Buyer (b) reasonably assist Buyer in investigating and remedying any Incident and any related inquiry or claim; and (c) provide Buyer with reasonable assurance that Badger Meter has corrected all circumstances under Badger Meter’s control that led to the Incident.
20. Returns. No Goods may be returned for credit or repair without a Returned Material Authorization (RMA) issued by Badger Meter. Badger Meter reserves the right to reject return if Buyer does not get prior authorization and RMA. Authorized return shipments must be returned in original packaging and in good condition to Badger Meter’s designated receiving point, must be accompanied by a packing slip, including Badger Meter’s RMA number, and must have transportation charges prepaid. NO RETURNS ACCEPTED WITHOUT PRIOR
BADGER METER AUTHORIZATION EVIDENCED BY A VISIBLE RMA NUMBER ON THE OUTSIDE OF THE PACKAGE. If returned Goods are severely damaged in shipping, based on poor packing, they may not be eligible for credit. Correspondence concerning all returned Goods must be addressed to the appropriate Badger Meter office and party. Badger Meter reserves the right to deduct an adequate service charge to cover all inspection, testing and handling from any credit, plus freight, insurance, packing, import and export costs. Unused or uninstalled product returns received prior to 90 days after invoice date are eligible to be credited back to the customer with Badger Meter approval. Only current versions of other products are eligible to be credited back to the customer. Badger Meter reserves the right to charge a restocking fee.
21. Assignment. This Agreement may not be assigned by either party without the written consent of the other (which consent shall not be unreasonably withheld). However, consent will not be required for internal transfers and assignments of Badger Meter, its subsidiaries or affiliates as part of a consolidation, merger or any other form of corporate reorganization.
22. Governing Law and Dispute Resolution. This Agreement shall be deemed as made and accepted in California, USA. This Agreement and all disputes hereunder shall be governed by, resolved and construed under the internal laws of the State of Wisconsin without regard to rules relating to conflict of laws. Neither this Agreement nor sales hereunder shall be governed by the provisions of the United Nations Convention on Contracts for the International Sale of Goods. Upon expiration or termination of this Agreement for any reason, Badger Meter shall have all of the rights and remedies provided by law, including, without limitation, the rights of a secured party under Chapter 409, Wisconsin Statutes or any successor statute or similar statute in the jurisdiction where Buyer is located or stores the Goods.
VENUE FOR ANY SUIT OR ACTION RELATING TO OR ARISING OUT OF ANY GOODS PURCHASED
FROM OR SERVICES PERFORMED BY BADGER METER SHALL LIE EXCLUSIVELY IN THE STATE
OR FEDERAL COURTS LOCATED INSTANISLAUS COUNTY, MODESTO, USA, AND BUYER
CONSENTS TO THE JURISDICTION OF SUCH COURTS AND AGREES TO APPEAR IN ANY SUCH ACTION UPON WRITTEN NOTICE THEREOF.
23. Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.
24. Non-Waiver. Failure or delay of Badger Meter to exercise a right or power under this Agreement shall not operate as a waiver thereof, nor shall any single or partial exercise of a right or power preclude any other future exercise thereof.
DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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25. Government Contracts. If the provision of Goods by Badger Meter under accepted orders is subject to mandatory provisions of U.S. law concerning contracts or subcontracts with or for the benefit of the U.S. or any state or other national government, Buyer shall so notify Badger Meter in advance of order acceptance specifying the mandatory provisions of U.S, state or other national government law which apply.
26. Cumulative Remedies. Badger Meter’s rights and remedies under the Agreement are cumulative and in addition to all other rights and remedies available to Badger Meter at law or in equity.
27. Relationship of Parties. Buyer and Badger Meter are independent contractors, and nothing herein shall be construed to create a partnership, joint venture, agency or employment relationship. Neither party has nor will have any power to bind the other, or to assume or create any obligation or responsibility, express or implied, on behalf of the other party.
(Ver. INC-SN-02374-EN-04 11 08/2020)
DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E #14..
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BY: ________________________________________ BY: ________________________________________ VENDOR –
NAME/TITLE -DATE
CITY OF MODESTO –
PURCHASING DIVISION -DATE
DocuSign Envelope ID: 79357427-DFC1-4FD8-B545-A2C63E98C86E Pamela Stokke-Ceci
Assistant General Counsel
5/13/2021
Purchasing Manager
5/13/2021
Cynthia Kline
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CITY OF MODESTO
COUNCIL AGENDA REPORT
DATE OF MEETING:
December 12, 2023
Date: November 13, 2023
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: Monthly Investment Report – September 2023
CONTACT: Calogero Maniscalco, Senior Financial Analyst
[email protected], 209-577-5219
DESCRIPTION:
Consider accepting the Monthly Investment Report for September 2023. (Funding Source:
Various Funds)
STRATEGIC PLAN ELEMENT:
This item supports the City of Modesto 2020-2025 Strategic Plan focus of Governance and Service Delivery under Goal H: Achieve Financial Sustainability.
BACKGROUND:
The City’s Finance Department submits a monthly investment report to Council and the City Manager. Attached are the September investment reports (see attachment list below) generated by Public Financial Management, the City’s investment advisor. Investments in the portfolio (attachment 4) are for the City of Modesto, Modesto Public Financing Authority, Community Facilities Districts, Tuolumne River Regional Park, Successor Agency to the Redevelopment Agency, and the Modesto-Ceres Fire Protection Agency Joint Powers Authority.
DISCUSSION:
It is the function of the Finance Department to deposit and invest funds in accordance with sound treasury management and to safeguard the principal and maintain the liquidity needs of the City. The purpose of the Monthly Investment Report is to keep the City Council and City Manager informed of the City’s investment portfolio. As shown in Attachment 2, on September 30, 2023 the City had a closing market value of $464,406,092 in its investment portfolio. #15..
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City Council, December 12, 2023
Monthly Investment Report – September 2023
FISCAL IMPACT:
In September, the approximate yield of the City’s combined investments was 3.36% (see attachment 3) on a weighted average. For the portfolio of securities alone, the yield to maturity on cost was 2.60%. For comparative purposes, the yields (as of September 30, 2023) of other investments commonly used by public agencies are listed below:
Local Agency Investment Fund: 3.53%
1-Year U.S. Treasury Note: 5.50%
2-Year U.S. Treasury Note: 5.11%
The Portfolio maintains sufficient liquidity to meet the City's projected expenditure requirements for at least the next six months.
COMMITTEE RECOMMENDATION:
This item has not gone before a committee.
CEQA/NEPA REQUIREMENTS:
N/A
RECOMMENDED COUNCIL ACTION:
Staff Recommendations:
Motion accepting the Monthly Investment Report for September 2023.
Approved by:
DeAnna Christensen, Director of Finance
Joseph P. Lopez, City Manager
Attachments:
1. Monthly Investment Report
2. Account Statement
3. Combined Yields
4. Portfolio Holdings and Earnings Projections
5. Cash with Fiscal Agent
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PORTFOLIO HOLDINGS
Attachment 1
Percentages may not total to 100% due to rounding.
Investment Type No. of Investments Amount Invested
CAMP 1 48,632,969
Federal Agency 20 35,859,716
Federal Home Loan Bank 1 2,205,221
Federal Home Loan Mortgage Co. 4 5,864,586
Federal Nat’l Mortgage Assc. 15 27,789,909
Federal Agency CMO 13 36,463,551
U.S. Treasury 55 215,164,587
Commercial Paper 2 20,854,703
Negotiable CD 2 6,780,398
Corporate Note 28 68,226,242
Asset-Backed 16 19,511,701
Municipal 10 7,238,201
Supranational 2 5,674,024
Total Invested 149 464,406,092
Sector Allocation
September 30, 2023 versus August 31, 2023
Sector September 30, 2023 August 31, 2023 Change in Allocation Permitted by Policy
U.S. Treasury 46.3% 52.9% -6.52% 100%
Federal Agency 7.7% 7.7% 0.02% 100%
Federal Agency CMO 7.9% 4.7% 3.20% 100%
Commercial Paper 4.5% 4.5% 0.03% 25%
Negotiable CD 1.5% 1.5% 0.00% 30%
Corporate Note 14.7% 13.4% 1.28% 30%
Asset-Backed 4.2% 2.3% 1.91% 20%
Municipal 1.6% 1.6% 0.00% 100%
Supranational 1.2% 1.2% 0.01% 30%
CAMP 10.5% 10.4% 0.07% 100%
* Total invested includes only the bolded numbers
* * Amount invested are market values excluding accrued interest Additional, detailed information regarding security types and investment activity may be found in Attachment 2 accompanying this memo. Moreover, the addendum data will confirm continued compliance with the investment policy as well as with California Government Code.
RECENT ACTIVITY & CORPORATE EXPOSURE
The Federal Reserve (Fed) kept the overnight target rate unchanged in its current range of 5.25% to
5.50%. They did, however, signal that interest rates may still need to be a bit higher to counteract inflationary pressures. Inflation, as measured by CPI, posted a second straight significant monthly increase in September (+0.4%). This was in large part due to an increase in both shelter costs and gasoline prices.
Corporates generated slightly negative excess returns in September as spreads widened modestly, closing the month near 12-month averages. In the Long-Term portfolio, we made purchases across multiple sectors including Treasury bills, agency CMBS, ABS, and corporate notes while we sold Treasury notes and a corporate note. In the Short-Term Portfolio we purchased commercial paper security replacing one that matured.
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PERFORMANCE
Treasury yields continued their path higher over the month with the largest moves coming in the long end of the curve. Given the dramatic shift higher in Treasury yields we saw negative performance from both the Long-Term Portfolio and its benchmark. The Long-Term Portfolio continues to benefit from broad diversification across spread sectors and outperformed the benchmark over the month and since inception.
1. Performance is calculated on trade-date basis, gross (i.e., before fees) in accordance the CFA Institute's Global Investment Performance Standards (GIPS).
2. Performance numbers for periods greater than 1 year are presented on an annualized basis unless otherwise noted.
3. The performance calculation excludes any funds not invested in the 1-5 year strategy.
4. Performance benchmark through December 31, 2018 was the ICE BofAML 1-3 Year U.S. Treasury Index, and is now the ICE BofAML 1-5 Year U.S. Treasury Index, sourced from Bloomberg.
5. Inception date is 3/31/04.
Percentages may not add due to rounding.
Long-Term Portfolio Total Return
September 30, 2023
1 Month Trailing
12 Months
Trailing 36
Months
Trailing 60
Months
Since
Inception5
City of Modesto Investment Portfolio1,2,3-0.32% 2.35% -1.38% 1.17% 1.92% Modesto Performance Benchmark4-0.34% 2.12% -1.76% 0.82% 1.63% Average Portfolio Yields
September 30, 2023
Past
Month
Past 3
Months
Past
Year
Past 3
Years
Past 5
Years
City of Modesto Investment Portfolio 2.85% 2.60% 2.11% 1.77% 1.99% City of Modesto Short-Term Portfolio 5.55% 5.42% 4.79% - - $101.1
$11.3
$76.8
$110.3
$51.9
$113.1
$-
$30.0
$60.0
$90.0
$120.0
$150.0
Under 6
Months
6-12
Months
1-2 Years 2-3 Years 3-4 Years 4-5 Years
Millions
Maturity Distribution
September 30, 2023
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INVESTMENT POLICY
The City’s investment policy embraces the following standards: the prudent investor rule, requiring the safety of principal, through prudent and safe investments; sufficient liquidity to meet expected and unforeseen cash flows; generation of an above-market, risk-adjusted rate of return (meaning, returnsexpectations taking safety and liquidity into account). No investments longer than five years are permitted.
Some investments have maturity limits of 270 days or less. The table below details the City’s permitted investments.
Investment Type
Maximum
Maturity
Maximum Specified
% of Portfolio
Maximum
% per
Issuer
Minimum Quality
Requirements
Local Agency Bonds 5 Years None None None
Treasury Obligations 5 Years None None None
State Obligations 5 Years None None A rating
CA Local Agency Obligations 5 Years None None A rating
Federal Agencies 5 Years None None None
Supranationals 5 Years 30 percent 5 percent AA
Banker’s Acceptances 180 days 40 percent 5 percent Federal Reserve eligible Commercial Paper 270 days 25 percent 5 percent A1/P1 rating Negotiable Certificates of Deposit 5 Years 30 percent 5 percent A rating Certificates of Deposit 1 Year 20 percent 5 percent FDIC insured or collateralized Repurchase Agreements 90 days None 5 percent None
Reverse Repurchase Agreements 92 days 20 percent of
combined base value 5 percent None
Medium Term Notes 5 Years 30 percent 5 percent A rating Money Market Mutual Funds N/A 20 percent 10 percent Multiple Mortgage and Asset-backed Securities 5 Years 20 percent 5 percent AA Rating CAMP N/A None None N/A
LAIF N/A N/A None N/A
The City is not required to include a list of investments held by our bond trustees; however, staff believes the City Council should be kept informed of these investments. These investments are identified on Attachment A.
LONG TERM PORTFLIO INCOME RETURN
Monthly Income Return
0.19%
Fiscal Year-to-Date Income Return
0.48%
Prior 12 Months Income Return
1.54%
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Source: Bloomberg and New York Fed Household Debt and Credit Report. Data as of June 30, 2023. (Left chart) Source: Federal Reserve Bank of St. Louis. Data as of April 1, 2023. (Right chart) Economic Summary
Personal Savings and Consumer Debt Have Returned to PrePandemic Levels $0
$1
$2
$3
$4
$5
$6
$7
2016 2017 2018 2019 2020 2021 2022 2023
Trillions
Personal Savings
Accumulated Excess Savings Drawdowns of Excess Savings
Pre-pandemic
trend
9.85%
8.31%
9.83%
8%
9%
10%
11%
Jan-16
Apr-16
Jul-16
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
Apr-23
Household Debt Service Payments as a Percent of
Disposable Personal Income
43-year low
Consumer debt levels have returned to longer-term
historical averages after declining during the pandemic #15..
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Source: Congressional Budget Office July 2023 economic projections, Bureau of Labor Statistics. Bloomberg, as of September 2023. Data is seasonally adjusted.
Economic Summary
The Unemployment Rate Remains Stable
April 20
14.7%
Sep 23
3.8%
0%
2%
4%
6%
8%
10%
12%
14%
16%
2019 2020 2021 2022
Unemployment Rate
58%
60%
62%
64%
66%
68%
2000 2005 2010 2015 2020 2025 2030
Labor Force Participation Rate
Actual LFPR CBO Forecast Potential
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Source: ICE BofAML 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of 09/30/2023. Spreads on ABS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.
Economic Summary
Corporate Spreads Widen While Agency and Asset-Backed
Spreads Remain Rangebound
-0.05%
0.00%
0.05%
0.10%
0.15%
0.20%
0.25%
0.30%
0.35%
Sep-22 Dec-22 Mar-23 Jun-23 Sep-23
Federal Agency Yield Spreads
0.50%
0.60%
0.70%
0.80%
0.90%
1.00%
1.10%
1.20%
Sep-22 Dec-22 Mar-23 Jun-23 Sep-23
Corporate Notes A-AAA Yield Spreads
0.20%
0.30%
0.40%
0.50%
0.60%
0.70%
0.80%
0.90%
1.00%
1.10%
1.20%
Sep-22 Dec-22 Mar-23 Jun-23 Sep-23
Asset-Backed Securities AAA Yield Spreads
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Medium and Longer-Term Treasury Yields Continue on
Their Path Higher
Source: Bloomberg as of 09/30/2023.
Economic Summary
5.54%
5.45%
4.80% 4.57%
4.70%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%
5.50%
6.00%
3M1Y 2Y 3Y 4Y 5Y 10Y 30Y
U.S. Treasury Yield Curve
September 30, 2023
August 30, 2023
June 30, 2023
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This material is based on information obtained from sources generally believed to be reliable and available to the public, however, PFM Asset Management LLC cannot guarantee its accuracy, completeness or suitability. This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation. All statements as to what will or may happen under certain circumstances are based on assumptions, some but not all of which are noted in the presentation. Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Past performance does not necessarily reflect and is not a guaranty of future results. The information contained in this presentation is not an offer to purchase or sell any securities.
Investment advisory services are provided by PFM Asset Management LLC (“PFMAM”), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. (“USBAM”). USBAM is a subsidiary of U.S. Bank National Association (“U.S. Bank”). U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.
For more information regarding PFMAM’s services or entities, please visit www.pfmam.com.
Disclosures
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For the Month Ending September 30, 2023
Account Statement
Consolidated Summary Statement
CITY OF MODESTO - Combined Portfolio
Investment Allocation
Investment Type Closing Market Value Percent
Asset-Backed Security 19,511,701.30 4.20
Federal Agency Bond / Note 35,859,715.57 7.72
Corporate Note 62,626,037.71 13.49
Bank Note 5,600,203.88 1.21
Certificate of Deposit 6,780,398.45 1.46
Federal Agency Commercial Mortgage-Backed Security 36,463,550.53 7.85 Commercial Paper 20,854,703.28 4.49
Municipal Bond / Note 7,238,201.05 1.56
Supra-National Agency Bond / Note 5,674,024.01 1.22
U.S. Treasury Bond / Note 215,164,587.43 46.33
CAMP Pool 48,632,969.13 10.47
Total $464,406,092.34 100.00%
Portfolio Summary
and Income
Closing
Portfolio Holdings Market Value
Cash Dividends
PFMAM Managed Account 41,857.48 415,773,123.21
CAMP Pool 0.00 48,632,969.13
Total $41,857.48 $464,406,092.34
Maturity Distribution (Fixed Income Holdings)
Portfolio Holdings Closing Market Value Percent
61,411,661.84
1,776,575.00
10,424,325.00
27,472,071.40
11,254,734.71
76,752,321.70
110,286,147.68
51,933,337.25
107,445,539.26
5,649,378.50
13.22 0.38
2.24 5.92
2.42 16.53
23.75 11.18
23.14 1.22
Under 30 days
31 to 60 days
61 to 90 days
91 to 180 days
181 days to 1 year
1 to 2 years
2 to 3 years
3 to 4 years
4 to 5 years
Over 5 years
Total $464,406,092.34
870
100.00%
Weighted Average Days to Maturity
Sector Allocation
4.20% ABS
7.72%
Fed Agy Bond /
Note
13.49%
Corporate Note
1.21%
Bank Note
1.46%
Cert of Deposit
7.85%
Federal Agency
Commercial
Mortgage-Backed
Security
4.49%
Commercial Paper
1.56%
Muni Bond / Note
1.22%
Supra-National
Agency Bond / Note
46.33%
US TSY Bond / Note
10.47%
CAMP Pool
Summary Page 1
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Managed Account Summary Statement For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Total Cash Basis Earnings
Plus Net Realized Gains/Losses
Less Purchased Interest Related to Interest/Coupons
Interest/Dividends/Coupons Received
Earnings Reconciliation (Cash Basis) - Managed Account
Less Beginning Accrued Interest
Less Beginning Amortized Value of Securities
Less Cost of New Purchases
Plus Coupons/Dividends Received
Plus Proceeds of Maturities/Calls/Principal Payments
Plus Proceeds from Sales
Ending Accrued Interest
Ending Amortized Value of Securities
Earnings Reconciliation (Accrual Basis)
$417,101,771.70
(21,421,039.57)
(32,088,906.93)
53,919,386.93
0.00 (1,738,088.92)
$415,773,123.21
702,972.76
(48,071.88)
(613,043.40)
$41,857.48
Total
433,824,262.98
1,669,144.69
32,249,408.79
21,425,626.90
537,883.57
(53,967,458.81)
(433,876,825.95)
(1,603,035.79)
Total Accrual Basis Earnings $259,006.38
Closing Market Value
Change in Current Value
Unsettled Trades
Principal Acquisitions
Principal Dispositions
Maturities/Calls
Opening Market Value
Transaction Summary - Managed Account
_________________
_________________
_______________________________________________ _______________________________________________ Reconciling Transactions Net Cash Contribution
Security Purchases
Principal Payments
Coupon/Interest/Dividend Income
Sale Proceeds
Maturities/Calls
Cash Transactions Summary - Managed Account
21,209,587.33
32,249,408.79
537,883.57
216,039.57
(53,967,458.81)
(0.26)
0.00 Cash Balance
Closing Cash Balance $250,298.92
CITY OF MODESTO - COMBINED PORTFOLIO Page 1
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Portfolio Summary and Statistics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Account Summary
Description Par Value Market Value Percent
U.S. Treasury Bond / Note 233,045,000.00 215,164,587.43 51.76 Supra-National Agency Bond / Note 5,885,000.00 5,674,024.01 1.36 Municipal Bond / Note 7,590,000.00 7,238,201.05 1.74
Federal Agency Commercial
Mortgage-Backed Security
37,826,770.35 36,463,550.53 8.77
Federal Agency Bond / Note 38,760,000.00 35,859,715.57 8.62 Corporate Note 65,175,000.00 62,626,037.71 15.06
Commercial Paper 21,387,000.00 20,854,703.28 5.02
Certificate of Deposit 6,855,000.00 6,780,398.45 1.63
Bank Note 5,635,000.00 5,600,203.88 1.35
Asset-Backed Security 19,677,412.37 19,511,701.30 4.69
Managed Account Sub-Total 441,836,182.72 415,773,123.21 100.00% Accrued Interest 1,669,144.69
Total Portfolio 441,836,182.72 417,442,267.90
Unsettled Trades 0.00 0.00
Sector Allocation
4.69% ABS
1.35%
Bank Note
1.63%
Cert of Deposit
5.02%
Commercial Paper
15.06%
Corporate Note
8.62%
Fed Agy Bond /
Note
8.77%
Federal Agency
Commercial
Mortgage-Backed
Security
1.74%
Muni Bond / Note
1.36%
Supra-National
Agency Bond / Note
51.76%
US TSY Bond / Note
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years
12.61%
2.71%
18.46%
26.53%
12.49%
27.20%
0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 972
3.12%
5.13%
CITY OF MODESTO - COMBINED PORTFOLIO Page 2
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Managed Account Issuer Summary For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Credit Quality (S&P Ratings)
3.72%
A
8.06%
A+
1.32%
A2.52%
A-1
2.50%
A-1+
2.96%
AA
70.54%
AA+
0.80%
AA6.97%
AAA
0.61%
NR
Issuer Summary
Issuer of Holdings Percent
Market Value
AMAZON.COM INC 4,852,735.11 1.17
AMERICAN EXPRESS CO 3,079,481.64 0.74
APPLE INC 4,993,107.60 1.20
BANK OF AMERICA CO 5,671,932.23 1.36
Bank of America Corp 1,461,309.08 0.35
BRISTOL-MYERS SQUIBB CO 2,022,957.88 0.49
CALIFORNIA DEPARTMENT OF WATER RESOURCES 94,331.00 0.02 CALIFORNIA STATE UNIVERSITY 568,584.00 0.14
CARMAX AUTO OWNER TRUST 542,607.08 0.13
CHASE ISSURANCE 3,003,470.63 0.72
CITIGROUP INC 5,649,378.50 1.36
DEERE & COMPANY 2,516,930.50 0.61
DISCOVER FINANCIAL SERVICES 737,226.04 0.18
FANNIE MAE 31,519,126.25 7.58
FEDERAL HOME LOAN BANKS 2,205,221.01 0.53
FIFTH THIRD AUTO TRUST 2,416,657.52 0.58
FLORIDA STATE BOARD OF ADMIN FIN CORP 1,672,902.00 0.40 FREDDIE MAC 38,598,918.84 9.28
HOME DEPOT INC 3,306,045.22 0.80
HONDA AUTO RECEIVABLES 2,390,853.75 0.58
HYUNDAI AUTO RECEIVABLES 602,237.91 0.14
INTER-AMERICAN DEVELOPMENT BANK 3,897,449.01 0.94
INTL BANK OF RECONSTRUCTION AND DEV 1,776,575.00 0.43
JP MORGAN CHASE & CO 3,530,657.43 0.85
KUBOTA CREDIT OWNER TRUST 880,732.52 0.21
LMA AMERICAS LLC 10,480,631.16 2.52
LOS ANGELES COMMUNITY COLLEGE DISTRICT 854,838.75 0.21
MASTERCARD INC 4,072,826.08 0.98
MICROSOFT CORP 5,633,955.00 1.36
NEW JERSEY TURNPIKE AUTHORITY 461,196.30 0.11
PACCAR FINANCIAL CORP 2,836,291.06 0.68
PFIZER INC 3,400,900.56 0.82
CITY OF MODESTO - COMBINED PORTFOLIO Page 3
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Managed Account Issuer Summary For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Issuer of Holdings Percent
Market Value
RABOBANK NEDERLAND 3,426,465.00 0.82
STATE OF CALIFORNIA 2,310,000.00 0.56
STATE OF MARYLAND 595,361.20 0.14
TARGET CORP 329,331.47 0.08
THE BANK OF NEW YORK MELLON CORPORATION 3,112,086.29 0.75 THUNDER BAY FUNDING LLC 10,374,072.12 2.50
TORONTO-DOMINION BANK 3,353,933.45 0.81
TOYOTA MOTOR CORP 4,172,337.12 1.00
UNITED STATES TREASURY 215,164,587.43 51.74
UNIVERSITY OF CALIFORNIA 680,987.80 0.16
US BANCORP 2,831,388.56 0.68
USAA AUTO OWNER TRUST 3,008,349.21 0.72
WAL-MART STORES INC 5,081,953.02 1.22
WELLS FARGO & COMPANY 5,600,203.88 1.35
Total $415,773,123.21 100.00%
CITY OF MODESTO - COMBINED PORTFOLIO Page 4
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note
US TREASURY NOTES
DTD 10/15/2020 0.125% 10/15/2023
91282CAP6 10,490,000.00 AA+ Aaa 05/15/23 05/15/23 10,272,824.22 5.18 6,054.68 10,470,127.71 10,468,692.71
US TREASURY NOTES
DTD 11/30/2016 2.125% 11/30/2023
912828U57 10,480,000.00 AA+ Aaa 07/28/23 07/31/23 10,365,784.38 5.43 74,841.80 10,423,828.38 10,424,325.00
US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
9128283J7 2,255,000.00 AA+ Aaa 04/29/21 04/30/21 2,384,750.59 0.50 16,103.84 2,297,193.70 2,171,846.88
US TREASURY N/B NOTES
DTD 12/15/2021 1.000% 12/15/2024
91282CDN8 4,445,000.00 AA+ Aaa 04/06/22 04/07/22 4,251,920.31 2.68 13,116.39 4,358,379.30 4,219,971.88
US TREASURY N/B NOTES
DTD 02/15/2022 1.500% 02/15/2025
91282CDZ1 2,300,000.00 AA+ Aaa 07/13/23 07/17/23 2,183,203.13 4.88 4,406.25 2,198,533.98 2,184,281.25
US TREASURY N/B NOTES
DTD 02/15/2022 1.500% 02/15/2025
91282CDZ1 4,400,000.00 AA+ Aaa 04/06/22 04/07/22 4,255,109.38 2.70 8,429.35 4,330,258.39 4,178,625.00
US TREASURY NOTES
DTD 04/30/2020 0.375% 04/30/2025
912828ZL7 4,945,000.00 AA+ Aaa 04/29/21 04/30/21 4,894,777.34 0.63 7,760.16 4,925,165.31 4,583,396.88
US TREASURY NOTES
DTD 07/02/2018 2.750% 06/30/2025
912828XZ8 4,230,000.00 AA+ Aaa 04/06/22 04/07/22 4,232,148.05 2.73 29,397.35 4,231,161.40 4,060,800.00
US TREASURY NOTES
DTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 4,340,000.00 AA+ Aaa 08/02/21 08/06/21 4,291,514.06 0.53 924.04 4,317,160.06 3,958,893.75
US TREASURY NOTES
DTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 4,635,000.00 AA+ Aaa 04/06/22 04/07/22 4,262,932.62 2.74 986.85 4,425,300.19 4,227,989.06
US TREASURY NOTES
DTD 09/30/2020 0.250% 09/30/2025
91282CAM3 1,100,000.00 AA+ Aaa 09/27/21 09/28/21 1,076,023.44 0.80 7.51 1,088,036.30 1,000,828.18
US TREASURY NOTES
DTD 09/30/2020 0.250% 09/30/2025
91282CAM3 4,550,000.00 AA+ Aaa 09/07/21 09/09/21 4,473,574.22 0.67 31.08 4,512,354.37 4,139,789.29
US TREASURY NOTES
DTD 10/31/2020 0.250% 10/31/2025
91282CAT8 5,010,000.00 AA+ Aaa 04/29/21 04/30/21 4,894,339.45 0.77 5,241.44 4,956,493.81 4,541,095.06
US TREASURY NOTES
DTD 10/31/2020 0.250% 10/31/2025
91282CAT8 6,930,000.00 AA+ Aaa 10/04/21 10/06/21 6,783,278.91 0.78 7,250.14 6,854,862.21 6,281,394.97 CITY OF MODESTO - COMBINED PORTFOLIO Page 5
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note
US TREASURY NOTES
DTD 11/30/2020 0.375% 11/30/2025
91282CAZ4 4,250,000.00 AA+ Aaa 11/01/21 11/02/21 4,133,291.02 1.07 5,356.04 4,188,000.80 3,849,570.10
US TREASURY NOTES
DTD 11/30/2020 0.375% 11/30/2025
91282CAZ4 4,635,000.00 AA+ Aaa 04/06/22 04/07/22 4,254,785.16 2.75 5,841.24 4,409,381.14 4,198,295.86
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 500,000.00 AA+ Aaa 02/02/21 02/04/21 498,613.28 0.43 473.85 499,363.55 451,875.00
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 1,040,000.00 AA+ Aaa 01/07/21 01/08/21 1,035,978.13 0.45 985.60 1,038,181.53 939,900.00
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 3,735,000.00 AA+ Aaa 04/05/21 04/07/21 3,646,439.65 0.89 3,539.63 3,692,896.70 3,375,506.25
US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 2,400,000.00 AA+ Aaa 07/02/21 07/07/21 2,353,875.00 0.80 1,516.30 2,376,426.23 2,160,000.00
US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 5,000,000.00 AA+ Aaa 02/17/22 02/18/22 4,719,531.25 1.85 3,158.97 4,834,206.62 4,500,000.00
US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 5,775,000.00 AA+ Aaa 01/04/22 01/06/22 5,570,167.97 1.27 3,648.61 5,657,421.45 5,197,500.00
US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 7,980,000.00 AA+ Aaa 05/03/22 05/04/22 7,256,812.50 2.95 5,041.71 7,529,065.10 7,182,000.00
US TREASURY NOTES
DTD 02/28/2019 2.500% 02/28/2026
9128286F2 3,210,000.00 AA+ Aaa 03/01/21 03/01/21 3,492,881.25 0.70 6,834.48 3,346,558.02 3,034,453.13
US TREASURY NOTES
DTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 4,645,000.00 AA+ Aaa 04/06/22 04/07/22 4,259,973.05 2.76 1,977.95 4,406,624.21 4,181,225.55
US TREASURY NOTES
DTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 6,000,000.00 AA+ Aaa 12/03/21 12/07/21 5,838,281.25 1.15 2,554.95 5,907,723.95 5,400,937.20
US TREASURY N/B NOTES
DTD 03/31/2021 0.750% 03/31/2026
91282CBT7 2,480,000.00 AA+ Aaa 09/07/21 09/09/21 2,479,031.25 0.76 50.82 2,479,469.05 2,242,075.00
US TREASURY N/B NOTES
DTD 03/31/2021 0.750% 03/31/2026
91282CBT7 4,925,000.00 AA+ Aaa 04/29/21 04/30/21 4,896,719.73 0.87 100.92 4,910,639.42 4,452,507.81 CITY OF MODESTO - COMBINED PORTFOLIO Page 6
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note
US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 1,405,000.00 AA+ Aaa 06/23/21 06/25/21 1,396,987.11 0.87 3,541.29 1,400,670.99 1,261,426.56
US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 4,615,000.00 AA+ Aaa 04/06/22 04/07/22 4,253,551.76 2.76 11,632.07 4,382,861.96 4,143,404.69
US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 4,800,000.00 AA+ Aaa 06/06/22 06/08/22 4,399,125.00 2.99 12,098.36 4,531,554.46 4,309,500.00
US TREASURY N/B NOTES
DTD 08/31/2021 0.750% 08/31/2026
91282CCW9 4,640,000.00 AA+ Aaa 04/06/22 04/07/22 4,258,106.25 2.75 2,963.74 4,386,909.24 4,131,775.23
US TREASURY N/B NOTES
DTD 09/30/2021 0.875% 09/30/2026
91282CCZ2 4,310,000.00 AA+ Aaa 04/05/22 04/07/22 3,968,398.83 2.77 103.04 4,081,500.74 3,846,001.78
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24 4,545,000.00 AA+ Aaa 06/06/22 06/08/22 4,355,920.90 3.01 34,334.51 4,411,909.78 4,179,979.69
US TREASURY NOTES
DTD 02/15/2017 2.250% 02/15/2027
912828V98 9,220,000.00 AA+ Aaa 07/05/22 07/07/22 8,981,576.56 2.85 26,494.97 9,045,429.87 8,508,331.25
US TREASURY N/B NOTES
DTD 03/31/2022 2.500% 03/31/2027
91282CEF4 910,000.00 AA+ Aaa 11/29/22 11/30/22 854,973.44 4.03 62.16 865,582.23 845,162.50
US TREASURY N/B NOTES
DTD 04/30/2020 0.500% 04/30/2027
912828ZN3 6,480,000.00 AA+ Aaa 08/03/22 08/05/22 5,791,500.00 2.92 13,558.70 5,959,543.38 5,586,975.00
US TREASURY NOTES
DTD 06/30/2020 0.500% 06/30/2027
912828ZV5 5,545,000.00 AA+ Aaa 08/09/22 08/10/22 4,920,754.30 2.99 7,006.59 5,066,586.49 4,749,639.06
US TREASURY NOTES
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 1,200,000.00 AA+ Aaa 08/29/22 08/31/22 1,142,625.00 3.30 3,448.37 1,155,177.76 1,096,687.44
US TREASURY NOTES
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 2,985,000.00 AA+ Aaa 09/01/22 09/06/22 2,830,036.52 3.40 8,577.82 2,863,537.49 2,728,010.01
US TREASURY N/B NOTES
DTD 09/30/2022 4.125% 09/30/2027
91282CFM8 5,380,000.00 AA+ Aaa 11/01/22 11/03/22 5,344,903.91 4.27 606.35 5,351,406.09 5,267,356.25
US TREASURY N/B NOTES
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 2,715,000.00 AA+ Aaa 12/06/22 12/08/22 2,752,755.47 3.81 46,866.95 2,746,484.01 2,657,306.25 CITY OF MODESTO - COMBINED PORTFOLIO Page 7
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note
US TREASURY N/B NOTES
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 3,160,000.00 AA+ Aaa 12/13/22 12/14/22 3,229,495.31 3.63 54,548.64 3,218,146.75 3,092,850.00
US TREASURY NOTES
DTD 10/31/2020 0.500% 10/31/2027
91282CAU5 8,775,000.00 AA+ Aaa 01/04/23 01/06/23 7,472,803.71 3.91 18,360.73 7,671,205.42 7,421,730.03
US TREASURY N/B NOTES
DTD 12/31/2022 3.875% 12/31/2027
91282CGC9 4,250,000.00 AA+ Aaa 06/01/23 06/05/23 4,266,933.59 3.78 41,619.40 4,265,737.08 4,119,843.75
US TREASURY N/B NOTES
DTD 01/31/2023 3.500% 01/31/2028
91282CGH8 2,220,000.00 AA+ Aaa 05/16/23 05/18/23 2,218,265.63 3.52 13,090.76 2,218,402.85 2,119,406.25
US TREASURY NOTES
DTD 01/31/2021 0.750% 01/31/2028
91282CBJ9 3,450,000.00 AA+ Aaa 01/31/23 01/31/23 2,994,761.72 3.66 4,359.38 3,055,343.81 2,924,953.13
US TREASURY N/B NOTES
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 2,825,000.00 AA+ Aaa 03/03/23 03/07/23 2,793,660.16 4.25 9,623.63 2,797,241.86 2,752,168.11
US TREASURY N/B NOTES
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 2,970,000.00 AA+ Aaa 03/03/23 03/06/23 2,931,134.77 4.29 10,117.58 2,935,595.41 2,893,429.84
US TREASURY N/B NOTES
DTD 03/31/2021 1.250% 03/31/2028
91282CBS9 2,555,000.00 AA+ Aaa 05/08/23 05/09/23 2,299,400.20 3.49 87.26 2,320,128.37 2,205,284.38
US TREASURY N/B NOTES
DTD 03/31/2023 3.625% 03/31/2028
91282CGT2 2,675,000.00 AA+ Aaa 05/01/23 05/02/23 2,672,178.71 3.65 264.94 2,672,417.62 2,564,656.25
US TREASURY N/B NOTES
DTD 04/30/2023 3.500% 04/30/2028
91282CHA2 3,320,000.00 AA+ Aaa 05/01/23 05/01/23 3,304,567.19 3.60 48,627.17 3,305,860.30 3,164,375.00
US TREASURY N/B NOTES
DTD 04/30/2023 3.500% 04/30/2028
91282CHA2 6,530,000.00 AA+ Aaa 05/03/23 05/04/23 6,559,844.14 3.40 95,643.21 6,557,388.51 6,223,906.25
US TREASURY N/B NOTES
DTD 06/30/2023 4.000% 06/30/2028
91282CHK0 4,100,000.00 AA+ Aaa 07/06/23 07/10/23 4,034,496.09 4.36 41,445.65 4,037,488.29 3,990,452.92
US TREASURY N/B NOTES
DTD 08/31/2023 4.375% 08/31/2028
91282CHX2 780,000.00 AA+ Aaa 08/30/23 08/31/23 783,473.44 4.28 2,906.25 783,414.50 772,200.00 Security Type Sub-Total 233,045,000.00 223,870,790.30 2.79 727,621.47 226,752,338.14 215,164,587.43 CITY OF MODESTO - COMBINED PORTFOLIO Page 8
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Supra-National Agency Bond / Note
INTL BK RECON & DEVELOP NOTES
DTD 11/24/2020 0.250% 11/24/2023
459058JM6 1,790,000.00 AAA Aaa 11/17/20 11/24/20 1,786,151.50 0.32 1,578.68 1,789,810.21 1,776,575.00
INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
4581X0DZ8 4,095,000.00 AAA Aaa 09/15/21 09/23/21 4,091,969.70 0.52 455.00 4,094,010.18 3,897,449.01 Security Type Sub-Total 5,885,000.00 5,878,121.20 0.46 2,033.68 5,883,820.39 5,674,024.01 Municipal Bond / Note
CA ST TXBL GO BONDS
DTD 10/24/2019 2.400% 10/01/2023
13063DRJ9 2,310,000.00 AA- Aa2 10/16/19 10/24/19 2,356,223.10 1.87 27,720.00 2,310,000.00 2,310,000.00
MD ST TXBL GO BONDS
DTD 08/05/2020 0.510% 08/01/2024
574193TQ1 620,000.00 AAA Aaa 07/23/20 08/05/20 619,826.40 0.52 527.00 619,963.66 595,361.20
CA ST UNIV TXBL REV BONDS
DTD 09/17/2020 0.685% 11/01/2024
13077DMK5 600,000.00 AA- Aa2 08/27/20 09/17/20 600,000.00 0.69 1,712.50 600,000.00 568,584.00
CA ST DEPT WTR RES WTR SYS TXBL REV
BNDS
DTD 08/06/2020 0.560% 12/01/2024
13067WRB0 100,000.00 AAA Aa1 07/30/20 08/06/20 100,000.00 0.56 186.67 100,000.00 94,331.00
UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 220,000.00 AA Aa2 07/14/20 07/16/20 220,796.40 0.81 733.87 220,258.12 205,229.20
UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 510,000.00 AA Aa2 07/10/20 07/16/20 510,000.00 0.88 1,701.25 510,000.00 475,758.60
FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 505,000.00 AA Aa3 09/03/20 09/16/20 508,570.35 1.11 1,588.23 506,304.43 469,341.95
FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 1,295,000.00 AA Aa3 09/03/20 09/16/20 1,295,000.00 1.26 4,072.77 1,295,000.00 1,203,560.05
LOS ANGELES CCD, CA TXBL GO BONDS
DTD 11/10/2020 0.773% 08/01/2025
54438CYK2 925,000.00 AA+ Aaa 10/30/20 11/10/20 925,000.00 0.77 1,191.71 925,000.00 854,838.75
NJ TURNPIKE AUTHORITY TXBL REV BONDS
DTD 02/04/2021 1.047% 01/01/2026
646140DP5 505,000.00 AA- A1 01/22/21 02/04/21 505,000.00 1.05 1,321.84 505,000.00 461,196.30 CITY OF MODESTO - COMBINED PORTFOLIO Page 9
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Security Type Sub-Total 7,590,000.00 7,640,416.25 1.22 40,755.84 7,591,526.21 7,238,201.05 Federal Agency Commercial Mortgage-Backed Security
FANNIEMAE-ACES
DTD 04/01/2014 3.346% 03/01/2024
3136AJB54 389,491.99 AA+ Aaa 12/13/19 12/18/19 408,418.86 2.14 1,086.03 391,366.18 385,079.00 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 2,475,000.00 AA+ Aaa 05/19/23 05/24/23 2,398,816.41 4.31 6,903.19 2,406,695.38 2,344,103.76 FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
3137BXQY1 4,000,000.00 AA+ Aaa 08/16/23 08/18/23 3,773,125.00 4.98 10,746.67 3,780,857.38 3,753,386.00
FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 2,275,000.00 AA+ Aaa 08/16/23 08/18/23 2,144,987.30 4.97 6,148.19 2,149,314.50 2,130,456.60
FHLMC MULTIFAMILY STRUCTURED P
DTD 08/01/2017 3.117% 06/01/2027
3137F2LJ3 3,530,000.00 AA+ Aaa 08/17/23 08/22/23 3,301,101.56 5.01 9,169.18 3,307,741.11 3,286,233.31 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
3137HAMR4 3,690,000.00 AA+ Aaa 09/20/23 09/28/23 3,632,092.83 5.19 14,760.00 3,632,190.74 3,607,763.33 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
3137HAMG8 1,900,000.00 AA+ Aaa 09/07/23 09/14/23 1,871,585.50 5.01 7,362.50 1,871,847.04 1,844,540.54 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 2,812,278.36 AA+ Aaa 07/19/23 07/27/23 2,812,208.05 4.78 11,195.21 2,812,210.67 2,759,812.41 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 3,500,000.00 AA+ Aaa 07/13/23 07/20/23 3,534,958.00 4.59 14,055.42 3,533,522.72 3,435,615.68 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
3136BQDE6 3,500,000.00 AA+ Aaa 07/18/23 07/31/23 3,440,664.06 4.58 12,220.83 3,442,711.27 3,344,138.74 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 2,155,000.00 AA+ Aaa 09/19/23 09/28/23 2,154,989.23 5.27 9,467.63 2,154,991.12 2,149,283.65 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 3,800,000.00 AA+ Aaa 09/07/23 09/14/23 3,743,786.60 4.99 14,725.00 3,744,275.06 3,691,967.56 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 3,800,000.00 AA+ Aaa 09/20/23 09/28/23 3,754,578.60 5.07 15,200.00 3,754,649.17 3,731,169.95 Security Type Sub-Total 37,826,770.35 36,971,312.00 4.87 133,039.85 36,982,372.34 36,463,550.53 CITY OF MODESTO - COMBINED PORTFOLIO Page 10
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Federal Agency Bond / Note
FANNIE MAE NOTES
DTD 01/10/2020 1.625% 01/07/2025
3135G0X24 3,500,000.00 AA+ Aaa 03/04/20 03/05/20 3,628,135.00 0.85 13,270.83 3,533,609.18 3,340,155.00
FREDDIE MAC NOTES
DTD 02/14/2020 1.500% 02/12/2025
3137EAEP0 640,000.00 AA+ Aaa 02/27/20 02/28/20 649,676.80 1.18 1,306.67 642,671.67 607,892.48
FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
3130AJHU6 2,370,000.00 AA+ Aaa 04/15/20 04/16/20 2,358,244.80 0.60 5,497.08 2,366,384.50 2,205,221.01
FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 475,000.00 AA+ Aaa 04/29/20 04/30/20 475,731.50 0.59 1,311.20 475,228.95 442,322.85
FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 1,910,000.00 AA+ Aaa 06/03/20 06/05/20 1,919,779.20 0.52 5,272.40 1,913,122.54 1,778,603.46
FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 3,195,000.00 AA+ Aaa 04/22/20 04/24/20 3,188,418.30 0.67 8,819.53 3,192,946.83 2,975,203.17
FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 3,345,000.00 AA+ Aaa 05/01/20 05/04/20 3,347,475.30 0.61 9,233.59 3,345,776.43 3,114,884.07
FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 200,000.00 AA+ Aaa 09/17/20 09/18/20 200,712.00 0.42 288.89 200,256.78 184,667.80
FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 1,075,000.00 AA+ Aaa 10/01/20 10/05/20 1,080,041.75 0.40 1,552.78 1,076,836.30 992,589.42
FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 1,190,000.00 AA+ Aaa 01/04/21 01/05/21 1,197,223.30 0.36 1,718.89 1,192,779.90 1,098,773.41
FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 3,675,000.00 AA+ Aaa 06/17/20 06/19/20 3,667,392.75 0.54 5,308.33 3,672,393.35 3,393,270.83
FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 3,820,000.00 AA+ Aaa 10/02/20 10/05/20 3,836,311.40 0.41 5,517.78 3,825,940.92 3,527,154.98
FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
3137EAEU9 2,220,000.00 AA+ Aaa 07/21/20 07/23/20 2,208,944.40 0.48 1,618.75 2,216,005.68 2,037,555.96
FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 450,000.00 AA+ Aaa 10/22/20 10/23/20 447,480.00 0.49 168.75 449,010.25 411,401.70 CITY OF MODESTO - COMBINED PORTFOLIO Page 11
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Federal Agency Bond / Note
FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 550,000.00 AA+ Aaa 10/15/20 10/16/20 548,289.50 0.44 206.25 549,330.84 502,824.30
FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 2,360,000.00 AA+ Aaa 08/25/20 08/27/20 2,348,955.20 0.47 885.00 2,355,797.65 2,157,573.36
FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 130,000.00 AA+ Aaa 09/29/20 09/30/20 129,829.70 0.40 10.83 129,932.31 118,551.81
FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 3,400,000.00 AA+ Aaa 09/23/20 09/25/20 3,389,766.00 0.44 283.34 3,395,943.43 3,100,585.80
FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 2,040,000.00 AA+ Aaa 11/19/20 11/24/20 2,039,224.80 0.51 4,080.00 2,039,670.89 1,855,649.28
FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 2,215,000.00 AA+ Aaa 11/09/20 11/12/20 2,207,070.30 0.57 4,430.00 2,211,655.68 2,014,834.88 Security Type Sub-Total 38,760,000.00 38,868,702.00 0.56 70,780.89 38,785,294.08 35,859,715.57 Corporate Note
US BANK NA CINCINNATI CORP NOTES
(CALLAB
DTD 02/04/2019 3.375% 02/05/2024
91159HHV5 2,860,000.00 A A3 07/19/19 07/23/19 2,995,535.40 2.27 15,015.00 2,867,997.17 2,831,388.56
PFIZER INC CORP NOTES
DTD 03/11/2019 2.950% 03/15/2024
717081ES8 3,445,000.00 A+ A1 04/02/19 04/04/19 3,486,374.45 2.69 4,516.78 3,448,188.02 3,400,900.56 AMAZON.COM INC CORPORATE NOTES
DTD 05/12/2021 0.450% 05/12/2024
023135BW5 1,590,000.00 AA A1 05/10/21 05/12/21 1,587,678.60 0.50 2,762.63 1,589,525.55 1,540,579.62
JP MORGAN CHASE BANK CORP NOTE
DTD 05/13/2014 3.625% 05/13/2024
46625HJX9 1,320,000.00 A- A1 09/22/20 09/24/20 1,461,028.80 0.65 18,342.50 1,343,912.19 1,303,016.88
WALMART INC CORPORATE NOTES
DTD 04/23/2019 2.850% 07/08/2024
931142EL3 4,000,000.00 AA Aa2 07/10/19 07/12/19 4,124,840.00 2.19 26,283.33 4,017,476.21 3,918,328.00
PACCAR FINANCIAL CORP CORPORATE
NOTES
DTD 02/06/2020 1.800% 02/06/2025
69371RQ66 1,810,000.00 A+ A1 05/11/20 05/13/20 1,839,014.30 1.45 4,977.50 1,818,285.01 1,721,210.45 CITY OF MODESTO - COMBINED PORTFOLIO Page 12
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Corporate Note
MASTERCARD INC CORP NOTES (CALLABLE)
DTD 12/03/2019 2.000% 03/03/2025
57636QAN4 1,760,000.00 A+ Aa3 05/04/20 05/06/20 1,836,225.60 1.08 2,737.78 1,781,584.07 1,676,957.92 AMAZON.COM INC CORPORATE NOTES
DTD 04/13/2022 3.000% 04/13/2025
023135CE4 3,430,000.00 AA A1 04/11/22 04/13/22 3,424,546.30 3.06 48,020.00 3,427,213.44 3,312,155.49
JPMORGAN CHASE & CO (CALLABLE) CORP
NOTE
DTD 06/01/2021 0.824% 06/01/2025
46647PCH7 865,000.00 A- A1 05/24/21 06/01/21 865,000.00 0.82 2,375.87 865,000.00 836,179.93
BRISTOL-MYERS SQUIBB CO CORPORATE
NOTES
DTD 11/13/2020 0.750% 11/13/2025
110122DN5 2,230,000.00 A+ A2 06/23/21 06/25/21 2,210,888.90 0.95 6,411.25 2,220,766.55 2,022,957.88
BANK OF NY MELLON CORP (CALLABLE)
CORPOR
DTD 01/28/2021 0.750% 01/28/2026
06406RAQ0 3,465,000.00 A A1 02/02/21 02/04/21 3,465,831.60 0.75 4,547.81 3,465,380.92 3,112,086.29
BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 03/22/2022 3.384% 04/02/2026
06051GKM0 2,025,000.00 A- A1 03/17/22 03/22/22 2,025,000.00 3.38 34,072.65 2,025,000.00 1,941,000.98
MICROSOFT CORP (CALLABLE) NOTES
DTD 08/08/2016 2.400% 08/08/2026
594918BR4 3,000,000.00 AAA Aaa 02/23/22 02/25/22 3,033,150.00 2.14 10,600.00 3,020,543.05 2,786,829.00
BANK OF AMERICA NA CORPORATE NOTES
DTD 08/18/2023 5.526% 08/18/2026
06428CAA2 3,750,000.00 A+ Aa1 08/15/23 08/18/23 3,749,700.00 5.53 24,751.88 3,749,712.04 3,730,931.25
MASTERCARD INC CORP NOTES (CALLABLE)
DTD 11/21/2016 2.950% 11/21/2026
57636QAG9 2,560,000.00 A+ Aa3 12/20/22 12/22/22 2,434,099.20 4.33 27,271.11 2,459,015.23 2,395,868.16
TARGET CORP CORP NOTES (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 365,000.00 A A2 01/19/22 01/24/22 364,379.50 1.99 1,502.58 364,589.52 329,331.47
MICROSOFT CORP CORP NOTES (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
594918BY9 3,000,000.00 AAA Aaa 12/14/22 12/16/22 2,914,170.00 4.06 15,125.00 2,930,564.49 2,847,126.00
HOME DEPOT INC CORP NOTES (CALLABLE)
DTD 09/14/2017 2.800% 09/14/2027
437076BT8 3,610,000.00 A A2 01/26/23 01/30/23 3,405,674.00 4.16 4,773.22 3,435,209.27 3,306,045.22
JPMORGAN CHASE CORP NOTES (CALLABLE)
DTD 02/24/2022 2.947% 02/24/2028
46647PCW4 1,535,000.00 A- A1 09/14/23 09/18/23 1,403,557.95 5.13 4,649.30 1,404,612.73 1,391,460.62 CITY OF MODESTO - COMBINED PORTFOLIO Page 13
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Corporate Note
WALMART INC CORPORATE NOTES
(CALLABLE)
DTD 04/18/2023 3.900% 04/15/2028
931142FB4 1,220,000.00 AA Aa2 05/16/23 05/18/23 1,217,279.40 3.95 21,543.17 1,217,485.64 1,163,625.02
APPLE INC CORP NOTES CALLABLE
DTD 05/10/2023 4.000% 05/10/2028
037833ET3 5,200,000.00 AA+ Aaa 05/16/23 05/18/23 5,216,380.00 3.93 81,466.67 5,215,134.79 4,993,107.60
JOHN DEERE CAPITAL CORP CORPORATE
NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 495,000.00 A A2 07/13/23 07/14/23 501,732.00 4.64 5,240.81 501,440.91 487,624.50
JOHN DEERE CAPITAL CORP CORPORATE
NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 895,000.00 A A2 07/14/23 07/18/23 903,690.45 4.73 9,475.81 903,332.92 881,664.50
JOHN DEERE CAPITAL CORP CORPORATE
NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 1,165,000.00 A A2 07/11/23 07/14/23 1,163,264.15 4.98 12,334.44 1,163,339.21 1,147,641.50
PACCAR FINANCIAL CORP CORPORATE
NOTES
DTD 08/10/2023 4.950% 08/10/2028
69371RS64 1,130,000.00 A+ A1 08/17/23 08/21/23 1,122,914.90 5.09 7,924.13 1,123,074.86 1,115,080.61
TOYOTA MOTOR CREDIT CORP CORPORATE
NOTES
DTD 09/11/2023 5.250% 09/11/2028
89236TLB9 2,800,000.00 A+ A1 09/06/23 09/11/23 2,795,128.00 5.29 8,166.67 2,795,081.01 2,783,561.20
CITIBANK NA CORP NOTES (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
17325FBB3 5,650,000.00 A+ Aa3 09/26/23 09/29/23 5,650,000.00 5.80 1,821.50 5,650,000.00 5,649,378.50 Security Type Sub-Total 65,175,000.00 65,197,083.50 3.37 406,709.39 64,803,464.80 62,626,037.71 Commercial Paper
THUNDER BAY FUNDING LLC COMM PAPER
DTD 08/02/2023 0.000% 02/27/2024
88602TBT9 10,630,000.00 A-1+ P-1 08/04/23 08/04/23 10,287,714.00 5.79 0.00 10,383,620.22 10,374,072.12
LMA AMERICAS LLC COMM PAPER
DTD 09/07/2023 0.000% 03/08/2024
53944QC81 10,757,000.00 A-1 P-1 09/07/23 09/07/23 10,449,690.44 5.79 0.00 10,489,993.33 10,480,631.16 CITY OF MODESTO - COMBINED PORTFOLIO Page 14
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Security Type Sub-Total 21,387,000.00 20,737,404.44 5.79 0.00 20,873,613.55 20,854,703.28 Certificate of Deposit
TORONTO DOMINION BANK NY CERT
DEPOS
DTD 10/31/2022 5.470% 10/25/2024
89115B6F2 3,355,000.00 A A1 10/27/22 10/31/22 3,355,000.00 5.44 170,774.16 3,355,000.00 3,353,933.45
COOPERAT RABOBANK UA/NY CERT DEPOS
DTD 07/20/2023 5.080% 07/17/2026
21684LGS5 3,500,000.00 A+ Aa2 07/17/23 07/20/23 3,500,000.00 5.08 35,066.11 3,500,000.00 3,426,465.00 Security Type Sub-Total 6,855,000.00 6,855,000.00 5.26 205,840.27 6,855,000.00 6,780,398.45 Bank Note
WELLS FARGO BANK NA BANK NOTES
(CALLABLE
DTD 08/09/2023 5.450% 08/07/2026
94988J6D4 5,635,000.00 A+ Aa2 08/15/23 08/17/23 5,621,645.05 5.54 44,359.97 5,622,198.43 5,600,203.88 Security Type Sub-Total 5,635,000.00 5,621,645.05 5.54 44,359.97 5,622,198.43 5,600,203.88 Asset-Backed Security
CARMX 2020-1 A3
DTD 01/22/2020 1.890% 12/16/2024
14315XAC2 10,218.14 AAA NR 01/14/20 01/22/20 10,216.14 1.89 8.58 10,217.65 10,204.99 HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
43813GAC5 180,908.07 NR Aaa 02/17/21 02/24/21 180,904.75 0.27 13.57 180,906.83 177,804.79 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 221,567.41 AAA NR 04/20/21 04/28/21 221,544.10 0.38 37.42 221,557.00 217,195.02 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
14316NAC3 144,591.20 AAA NR 01/20/21 01/27/21 144,562.62 0.34 21.85 144,578.28 140,991.57 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
89239BAC5 728,243.61 AAA Aaa 09/21/21 09/27/21 728,185.56 0.43 139.18 728,212.68 704,262.04 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 403,440.64 AAA NR 04/13/21 04/21/21 403,353.70 0.52 93.24 403,397.74 391,410.52 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 398,443.30 AAA NR 11/09/21 11/17/21 398,354.37 0.75 131.04 398,391.41 385,042.89 CITY OF MODESTO - COMBINED PORTFOLIO Page 15
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Managed Account Detail of Securities Held For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Asset-Backed Security
DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
254683CP8 775,000.00 AAA Aaa 09/20/21 09/27/21 774,834.07 0.58 199.78 774,901.21 737,226.04 KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
500945AC4 890,000.00 NR Aaa 07/18/23 07/26/23 889,775.19 5.29 2,088.53 889,784.39 880,732.52 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
06428AAC2 1,465,000.00 NR Aaa 07/25/23 07/31/23 1,464,944.48 5.53 3,600.64 1,464,946.55 1,461,309.08 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 2,220,000.00 AAA NR 08/15/23 08/22/23 2,219,542.24 5.42 4,337.02 2,219,553.40 2,213,048.96 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
89231FAD2 690,000.00 AAA NR 08/08/23 08/15/23 689,843.92 5.17 1,582.40 689,848.22 684,513.88 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
90291VAC4 3,015,000.00 AAA Aaa 09/07/23 09/15/23 3,014,472.38 5.58 7,477.20 3,014,468.68 3,008,349.21 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 2,425,000.00 AAA Aaa 08/15/23 08/23/23 2,424,849.65 5.53 5,960.11 2,424,852.87 2,416,657.52 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 3,020,000.00 AAA NR 09/07/23 09/15/23 3,019,162.86 5.17 6,925.87 3,019,162.44 3,003,470.63 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 3,090,000.00 AAA NR 09/12/23 09/19/23 3,089,861.88 5.23 5,386.90 3,089,855.69 3,079,481.64 Security Type Sub-Total 19,677,412.37 19,674,407.91 4.69 38,003.33 19,674,635.04 19,511,701.30 Managed Account Sub-Total 441,836,182.72 431,314,882.65 3.12 1,669,144.69 433,824,262.98 415,773,123.21 $441,836,182.72 $431,314,882.65 3.12% $1,669,144.69 $433,824,262.98 $415,773,123.21 $417,442,267.90
$1,669,144.69
Total Investments
Accrued Interest
Securities Sub-Total
CITY OF MODESTO - COMBINED PORTFOLIO Page 16
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Managed Account Fair Market Value & Analytics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY NOTES 91282CAP6 10,490,000.00 CITIGRP 99.80 10,468,692.71 195,868.49 (1,435.00) DTD 10/15/2020 0.125% 10/15/2023
0.05 5.09
US TREASURY NOTES 912828U57 10,480,000.00 RBS 99.47 10,424,325.00 58,540.62 496.62 DTD 11/30/2016 2.125% 11/30/2023
0.17 5.30
US TREASURY NOTES 9128283J7 2,255,000.00 HSBC 96.31 2,171,846.88 (212,903.71) (125,346.82) DTD 11/30/2017 2.125% 11/30/2024
1.15 5.43
US TREASURY N/B NOTES 91282CDN8 4,445,000.00 BNP_PAR 94.94 4,219,971.88 (31,948.43) (138,407.42) DTD 12/15/2021 1.000% 12/15/2024
1.20 5.38
US TREASURY N/B NOTES 91282CDZ1 2,300,000.00 BNP_PAR 94.97 2,184,281.25 1,078.12 (14,252.73) DTD 02/15/2022 1.500% 02/15/2025
1.37 5.34
US TREASURY N/B NOTES 91282CDZ1 4,400,000.00 RBS 94.97 4,178,625.00 (76,484.38) (151,633.39) DTD 02/15/2022 1.500% 02/15/2025
1.37 5.34
US TREASURY NOTES 912828ZL7 4,945,000.00 JPM_CHA 92.69 4,583,396.88 (311,380.46) (341,768.43) DTD 04/30/2020 0.375% 04/30/2025
1.58 5.25
US TREASURY NOTES 912828XZ8 4,230,000.00 BARCLAY 96.00 4,060,800.00 (171,348.05) (170,361.40) DTD 07/02/2018 2.750% 06/30/2025
1.71 5.17
US TREASURY NOTES 91282CAJ0 4,340,000.00 WELLS_F 91.22 3,958,893.75 (332,620.31) (358,266.31) DTD 08/31/2020 0.250% 08/31/2025
1.92 5.12
US TREASURY NOTES 91282CAJ0 4,635,000.00 BNP_PAR 91.22 4,227,989.06 (34,943.56) (197,311.13) DTD 08/31/2020 0.250% 08/31/2025
1.92 5.12
US TREASURY NOTES 91282CAM3 1,100,000.00 BNP_PAR 90.98 1,000,828.18 (75,195.26) (87,208.12) DTD 09/30/2020 0.250% 09/30/2025
2.00 5.05
US TREASURY NOTES 91282CAM3 4,550,000.00 HSBC 90.98 4,139,789.29 (333,784.93) (372,565.08) DTD 09/30/2020 0.250% 09/30/2025
2.00 5.05
US TREASURY NOTES 91282CAT8 5,010,000.00 HSBC 90.64 4,541,095.06 (353,244.39) (415,398.75) DTD 10/31/2020 0.250% 10/31/2025
2.08 5.04
US TREASURY NOTES 91282CAT8 6,930,000.00 TD 90.64 6,281,394.97 (501,883.94) (573,467.24) DTD 10/31/2020 0.250% 10/31/2025
2.08 5.04
US TREASURY NOTES 91282CAZ4 4,250,000.00 WELLS_F 90.58 3,849,570.10 (283,720.92) (338,430.70) DTD 11/30/2020 0.375% 11/30/2025
2.16 5.02
US TREASURY NOTES 91282CAZ4 4,635,000.00 WELLS_F 90.58 4,198,295.86 (56,489.30) (211,085.28) DTD 11/30/2020 0.375% 11/30/2025
2.16 5.02
US TREASURY NOTES 91282CBC4 500,000.00 HSBC 90.38 451,875.00 (46,738.28) (47,488.55) DTD 12/31/2020 0.375% 12/31/2025
2.24 4.95
CITY OF MODESTO - COMBINED PORTFOLIO Page 17
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Managed Account Fair Market Value & Analytics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY NOTES 91282CBC4 1,040,000.00 CITIGRP 90.38 939,900.00 (96,078.13) (98,281.53) DTD 12/31/2020 0.375% 12/31/2025
2.24 4.95
US TREASURY NOTES 91282CBC4 3,735,000.00 JPM_CHA 90.38 3,375,506.25 (270,933.40) (317,390.45) DTD 12/31/2020 0.375% 12/31/2025
2.24 4.95
US TREASURY NOTES 91282CBH3 2,400,000.00 BNP_PAR 90.00 2,160,000.00 (193,875.00) (216,426.23) DTD 01/31/2021 0.375% 01/31/2026
2.33 4.96
US TREASURY NOTES 91282CBH3 5,000,000.00 NOMURA 90.00 4,500,000.00 (219,531.25) (334,206.62) DTD 01/31/2021 0.375% 01/31/2026
2.33 4.96
US TREASURY NOTES 91282CBH3 5,775,000.00 MORGAN_ 90.00 5,197,500.00 (372,667.97) (459,921.45) DTD 01/31/2021 0.375% 01/31/2026
2.33 4.96
US TREASURY NOTES 91282CBH3 7,980,000.00 JPM_CHA 90.00 7,182,000.00 (74,812.50) (347,065.10) DTD 01/31/2021 0.375% 01/31/2026
2.33 4.96
US TREASURY NOTES 9128286F2 3,210,000.00 GOLDMAN 94.53 3,034,453.13 (458,428.12) (312,104.89) DTD 02/28/2019 2.500% 02/28/2026
2.36 4.93
US TREASURY NOTES 91282CBQ3 4,645,000.00 NOMURA 90.02 4,181,225.55 (78,747.50) (225,398.66) DTD 02/28/2021 0.500% 02/28/2026
2.41 4.93
US TREASURY NOTES 91282CBQ3 6,000,000.00 WELLS_F 90.02 5,400,937.20 (437,344.05) (506,786.75) DTD 02/28/2021 0.500% 02/28/2026
2.41 4.93
US TREASURY N/B NOTES 91282CBT7 2,480,000.00 WELLS_F 90.41 2,242,075.00 (236,956.25) (237,394.05) DTD 03/31/2021 0.750% 03/31/2026
2.47 4.87
US TREASURY N/B NOTES 91282CBT7 4,925,000.00 MORGAN_ 90.41 4,452,507.81 (444,211.92) (458,131.61) DTD 03/31/2021 0.750% 03/31/2026
2.47 4.87
US TREASURY N/B NOTES 91282CCF6 1,405,000.00 MERRILL 89.78 1,261,426.56 (135,560.55) (139,244.43) DTD 05/31/2021 0.750% 05/31/2026
2.64 4.88
US TREASURY N/B NOTES 91282CCF6 4,615,000.00 NOMURA 89.78 4,143,404.69 (110,147.07) (239,457.27) DTD 05/31/2021 0.750% 05/31/2026
2.64 4.88
US TREASURY N/B NOTES 91282CCF6 4,800,000.00 CITIGRP 89.78 4,309,500.00 (89,625.00) (222,054.46) DTD 05/31/2021 0.750% 05/31/2026
2.64 4.88
US TREASURY N/B NOTES 91282CCW9 4,640,000.00 RBC 89.05 4,131,775.23 (126,331.02) (255,134.01) DTD 08/31/2021 0.750% 08/31/2026
2.89 4.82
US TREASURY N/B NOTES 91282CCZ2 4,310,000.00 RBC 89.23 3,846,001.78 (122,397.05) (235,498.96) DTD 09/30/2021 0.875% 09/30/2026
2.95 4.77
US TREASURY NOTES 912828U24 4,545,000.00 RBC 91.97 4,179,979.69 (175,941.21) (231,930.09) DTD 11/15/2016 2.000% 11/15/2026
3.02 4.80
CITY OF MODESTO - COMBINED PORTFOLIO Page 18
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Managed Account Fair Market Value & Analytics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY NOTES 912828V98 9,220,000.00 JPM_CHA 92.28 8,508,331.25 (473,245.31) (537,098.62) DTD 02/15/2017 2.250% 02/15/2027
3.26 4.75
US TREASURY N/B NOTES 91282CEF4 910,000.00 BARCLAY 92.88 845,162.50 (9,810.94) (20,419.73) DTD 03/31/2022 2.500% 03/31/2027
3.32 4.73
US TREASURY N/B NOTES 912828ZN3 6,480,000.00 NOMURA 86.22 5,586,975.00 (204,525.00) (372,568.38) DTD 04/30/2020 0.500% 04/30/2027
3.55 4.72
US TREASURY NOTES 912828ZV5 5,545,000.00 WELLS_F 85.66 4,749,639.06 (171,115.24) (316,947.43) DTD 06/30/2020 0.500% 06/30/2027
3.71 4.72
US TREASURY NOTES 9128282R0 1,200,000.00 BNP_PAR 91.39 1,096,687.44 (45,937.56) (58,490.32) DTD 08/15/2017 2.250% 08/15/2027
3.72 4.71
US TREASURY NOTES 9128282R0 2,985,000.00 HSBC 91.39 2,728,010.01 (102,026.51) (135,527.48) DTD 08/15/2017 2.250% 08/15/2027
3.72 4.71
US TREASURY N/B NOTES 91282CFM8 5,380,000.00 MERRILL 97.91 5,267,356.25 (77,547.66) (84,049.84) DTD 09/30/2022 4.125% 09/30/2027
3.65 4.71
US TREASURY N/B NOTES 91282CFU0 2,715,000.00 NOMURA 97.88 2,657,306.25 (95,449.22) (89,177.76) DTD 10/31/2022 4.125% 10/31/2027
3.73 4.70
US TREASURY N/B NOTES 91282CFU0 3,160,000.00 JPM_CHA 97.88 3,092,850.00 (136,645.31) (125,296.75) DTD 10/31/2022 4.125% 10/31/2027
3.73 4.70
US TREASURY NOTES 91282CAU5 8,775,000.00 WELLS_F 84.58 7,421,730.03 (51,073.68) (249,475.39) DTD 10/31/2020 0.500% 10/31/2027
4.04 4.69
US TREASURY N/B NOTES 91282CGC9 4,250,000.00 NOMURA 96.94 4,119,843.75 (147,089.84) (145,893.33) DTD 12/31/2022 3.875% 12/31/2027
3.92 4.68
US TREASURY N/B NOTES 91282CGH8 2,220,000.00 BNP_PAR 95.47 2,119,406.25 (98,859.38) (98,996.60) DTD 01/31/2023 3.500% 01/31/2028
4.03 4.67
US TREASURY NOTES 91282CBJ9 3,450,000.00 HSBC 84.78 2,924,953.13 (69,808.59) (130,390.68) DTD 01/31/2021 0.750% 01/31/2028
4.26 4.67
US TREASURY N/B NOTES 91282CGP0 2,825,000.00 TD 97.42 2,752,168.11 (41,492.05) (45,073.75) DTD 02/28/2023 4.000% 02/29/2028
4.08 4.65
US TREASURY N/B NOTES 91282CGP0 2,970,000.00 JPM_CHA 97.42 2,893,429.84 (37,704.93) (42,165.57) DTD 02/28/2023 4.000% 02/29/2028
4.08 4.65
US TREASURY N/B NOTES 91282CBS9 2,555,000.00 BNP_PAR 86.31 2,205,284.38 (94,115.82) (114,843.99) DTD 03/31/2021 1.250% 03/31/2028
4.35 4.66
US TREASURY N/B NOTES 91282CGT2 2,675,000.00 RBS 95.88 2,564,656.25 (107,522.46) (107,761.37) DTD 03/31/2023 3.625% 03/31/2028
4.11 4.65
CITY OF MODESTO - COMBINED PORTFOLIO Page 19
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Managed Account Fair Market Value & Analytics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B NOTES 91282CHA2 3,320,000.00 BARCLAY 95.31 3,164,375.00 (140,192.19) (141,485.30) DTD 04/30/2023 3.500% 04/30/2028
4.20 4.65
US TREASURY N/B NOTES 91282CHA2 6,530,000.00 GOLDMAN 95.31 6,223,906.25 (335,937.89) (333,482.26) DTD 04/30/2023 3.500% 04/30/2028
4.20 4.65
US TREASURY N/B NOTES 91282CHK0 4,100,000.00 MERRILL 97.33 3,990,452.92 (44,043.17) (47,035.37) DTD 06/30/2023 4.000% 06/30/2028
4.33 4.63
US TREASURY N/B NOTES 91282CHX2 780,000.00 CITIGRP 99.00 772,200.00 (11,273.44) (11,214.50) DTD 08/31/2023 4.375% 08/31/2028
4.46 4.60
Security Type Sub-Total 233,045,000.00 215,164,587.43 (8,706,202.87) (11,587,750.71) 2.58 4.92 Supra-National Agency Bond / Note
INTL BK RECON & DEVELOP NOTES 459058JM6 1,790,000.00 TD 99.25 1,776,575.00 (9,576.50) (13,235.21) DTD 11/24/2020 0.250% 11/24/2023
0.16 5.29
INTER-AMERICAN DEVEL BK NOTES 4581X0DZ8 4,095,000.00 JPM_CHA 95.18 3,897,449.01 (194,520.69) (196,561.17) DTD 09/23/2021 0.500% 09/23/2024
0.98 5.63
Security Type Sub-Total 5,885,000.00 5,674,024.01 (204,097.19) (209,796.38) 0.72 5.52 Municipal Bond / Note
CA ST TXBL GO BONDS 13063DRJ9 2,310,000.00 MORGAN_S 100.00 2,310,000.00 (46,223.10) 0.00 DTD 10/24/2019 2.400% 10/01/2023
0.01 2.37
MD ST TXBL GO BONDS 574193TQ1 620,000.00 JPM_CHA 96.03 595,361.20 (24,465.20) (24,602.46) DTD 08/05/2020 0.510% 08/01/2024
0.84 5.44
CA ST UNIV TXBL REV BONDS 13077DMK5 600,000.00 GOLDMAN 94.76 568,584.00 (31,416.00) (31,416.00) DTD 09/17/2020 0.685% 11/01/2024
1.08 5.73
CA ST DEPT WTR RES WTR SYS TXBL REV 13067WRB0 100,000.00 MORGAN_ 94.33 94,331.00 (5,669.00) (5,669.00) BNDS
DTD 08/06/2020 0.560% 12/01/2024
1.17 5.64
UNIV OF CAL TXBL REV BONDS 91412HGE7 220,000.00 JPM_CHA 04/15/25 93.29 205,229.20 (15,567.20) (15,028.92) DTD 07/16/2020 0.883% 05/15/2025
1.53 5.25
UNIV OF CAL TXBL REV BONDS 91412HGE7 510,000.00 JPM_CHA 04/15/25 93.29 475,758.60 (34,241.40) (34,241.40) DTD 07/16/2020 0.883% 05/15/2025
1.53 5.25
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Managed Account Fair Market Value & Analytics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Municipal Bond / Note
FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 505,000.00 MERRILL 92.94 469,341.95 (39,228.40) (36,962.48) DTD 09/16/2020 1.258% 07/01/2025
1.74 5.54
FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 1,295,000.00 MERRILL 92.94 1,203,560.05 (91,439.95) (91,439.95) DTD 09/16/2020 1.258% 07/01/2025
1.74 5.54
LOS ANGELES CCD, CA TXBL GO BONDS 54438CYK2 925,000.00 MERRILL 92.42 854,838.75 (70,161.25) (70,161.25) DTD 11/10/2020 0.773% 08/01/2025
1.83 5.15
NJ TURNPIKE AUTHORITY TXBL REV 646140DP5 505,000.00 CITIGRP 91.33 461,196.30 (43,803.70) (43,803.70) BONDS
DTD 02/04/2021 1.047% 01/01/2026
2.23 5.17
Security Type Sub-Total 7,590,000.00 7,238,201.05 (402,215.20) (353,325.16) 1.07 4.44 Federal Agency Commercial Mortgage-Backed Security
FANNIEMAE-ACES 3136AJB54 389,491.99 JPM_CHAS 98.87 385,079.00 (23,339.86) (6,287.18) DTD 04/01/2014 3.346% 03/01/2024
0.43 6.09
FHMS K061 A2 3137BTUM1 2,475,000.00 CITIGRP 94.71 2,344,103.76 (54,712.65) (62,591.62) DTD 01/30/2017 3.347% 11/01/2026
2.77 5.21
FHMS K064 A2 3137BXQY1 4,000,000.00 MORGAN_ 93.83 3,753,386.00 (19,739.00) (27,471.38) DTD 05/15/2017 3.224% 03/01/2027
3.07 5.20
FHLMC MULTIFAMILY STRUCTURED P 3137F1G44 2,275,000.00 CITIGRP 93.65 2,130,456.60 (14,530.70) (18,857.90) DTD 07/01/2017 3.243% 04/01/2027
3.21 5.23
FHLMC MULTIFAMILY STRUCTURED P 3137F2LJ3 3,530,000.00 CANT_FI 93.09 3,286,233.31 (14,868.25) (21,507.80) DTD 08/01/2017 3.117% 06/01/2027
3.32 5.19
FHMS K507 A1 3137HAMR4 3,690,000.00 MERRILL 97.77 3,607,763.33 (24,329.50) (24,427.41) DTD 09/01/2023 4.800% 04/01/2028
3.49 5.36
FHMS K506 A1 3137HAMG8 1,900,000.00 WELLS_F 97.08 1,844,540.54 (27,044.96) (27,306.50) DTD 09/01/2023 4.650% 05/01/2028
3.77 5.37
FHMS KJ46 A1 3137HAD45 2,812,278.36 JPM_CHA 98.13 2,759,812.41 (52,395.64) (52,398.26) DTD 07/01/2023 4.777% 06/01/2028
3.29 5.23
FHMS K505 A2 3137HACX2 3,500,000.00 JPM_CHA 98.16 3,435,615.68 (99,342.32) (97,907.04) DTD 07/01/2023 4.819% 06/01/2028
4.05 5.26
FNA 2023-M6 A2 3136BQDE6 3,500,000.00 JPM_CHA 95.55 3,344,138.74 (96,525.32) (98,572.53) DTD 07/01/2023 4.190% 07/01/2028
4.21 5.25
CITY OF MODESTO - COMBINED PORTFOLIO Page 21
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Managed Account Fair Market Value & Analytics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Federal Agency Commercial Mortgage-Backed Security
FHMS KJ47 A1 3137HAMN3 2,155,000.00 JPM_CHA 99.73 2,149,283.65 (5,705.58) (5,707.47) DTD 09/01/2023 5.272% 08/01/2028
3.49 5.33
FHMS K506 A2 3137HAMH6 3,800,000.00 WELLS_F 97.16 3,691,967.56 (51,819.04) (52,307.50) DTD 09/01/2023 4.650% 08/01/2028
4.19 5.32
FHMS K507 A2 3137HAMS2 3,800,000.00 MERRILL 98.19 3,731,169.95 (23,408.65) (23,479.22) DTD 09/01/2023 4.800% 09/01/2028
4.23 5.22
Security Type Sub-Total 37,826,770.35 36,463,550.53 (507,761.47) (518,821.81) 3.60 5.27 Federal Agency Bond / Note
FANNIE MAE NOTES 3135G0X24 3,500,000.00 CITIGRP 95.43 3,340,155.00 (287,980.00) (193,454.18) DTD 01/10/2020 1.625% 01/07/2025
1.26 5.39
FREDDIE MAC NOTES 3137EAEP0 640,000.00 WELLS_FA 94.98 607,892.48 (41,784.32) (34,779.19) DTD 02/14/2020 1.500% 02/12/2025
1.36 5.35
FEDERAL HOME LOAN BANK NOTES 3130AJHU6 2,370,000.00 CITIGRP 93.05 2,205,221.01 (153,023.79) (161,163.49) DTD 04/16/2020 0.500% 04/14/2025
1.53 5.26
FANNIE MAE NOTES 3135G03U5 475,000.00 WELLS_F 93.12 442,322.85 (33,408.65) (32,906.10) DTD 04/24/2020 0.625% 04/22/2025
1.55 5.27
FANNIE MAE NOTES 3135G03U5 1,910,000.00 HSBC 93.12 1,778,603.46 (141,175.74) (134,519.08) DTD 04/24/2020 0.625% 04/22/2025
1.55 5.27
FANNIE MAE NOTES 3135G03U5 3,195,000.00 CITIGRP 93.12 2,975,203.17 (213,215.13) (217,743.66) DTD 04/24/2020 0.625% 04/22/2025
1.55 5.27
FANNIE MAE NOTES 3135G03U5 3,345,000.00 WELLS_F 93.12 3,114,884.07 (232,591.23) (230,892.36) DTD 04/24/2020 0.625% 04/22/2025
1.55 5.27
FANNIE MAE NOTES 3135G04Z3 200,000.00 WELLS_F 92.33 184,667.80 (16,044.20) (15,588.98) DTD 06/19/2020 0.500% 06/17/2025
1.71 5.23
FANNIE MAE NOTES 3135G04Z3 1,075,000.00 NOMURA 92.33 992,589.42 (87,452.33) (84,246.88) DTD 06/19/2020 0.500% 06/17/2025
1.71 5.23
FANNIE MAE NOTES 3135G04Z3 1,190,000.00 RBS 92.33 1,098,773.41 (98,449.89) (94,006.49) DTD 06/19/2020 0.500% 06/17/2025
1.71 5.23
FANNIE MAE NOTES 3135G04Z3 3,675,000.00 NOMURA 92.33 3,393,270.83 (274,121.92) (279,122.52) DTD 06/19/2020 0.500% 06/17/2025
1.71 5.23
FANNIE MAE NOTES 3135G04Z3 3,820,000.00 RBS 92.33 3,527,154.98 (309,156.42) (298,785.94) DTD 06/19/2020 0.500% 06/17/2025
1.71 5.23
CITY OF MODESTO - COMBINED PORTFOLIO Page 22
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Managed Account Fair Market Value & Analytics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Federal Agency Bond / Note
FREDDIE MAC NOTES 3137EAEU9 2,220,000.00 WELLS_F 91.78 2,037,555.96 (171,388.44) (178,449.72) DTD 07/23/2020 0.375% 07/21/2025
1.81 5.19
FANNIE MAE NOTES 3135G05X7 450,000.00 NOMURA 91.42 411,401.70 (36,078.30) (37,608.55) DTD 08/27/2020 0.375% 08/25/2025
1.90 5.17
FANNIE MAE NOTES 3135G05X7 550,000.00 CITIGRP 91.42 502,824.30 (45,465.20) (46,506.54) DTD 08/27/2020 0.375% 08/25/2025
1.90 5.17
FANNIE MAE NOTES 3135G05X7 2,360,000.00 BARCLAY 91.42 2,157,573.36 (191,381.84) (198,224.29) DTD 08/27/2020 0.375% 08/25/2025
1.90 5.17
FREDDIE MAC NOTES 3137EAEX3 130,000.00 WELLS_F 91.19 118,551.81 (11,277.89) (11,380.50) DTD 09/25/2020 0.375% 09/23/2025
1.98 5.11
FREDDIE MAC NOTES 3137EAEX3 3,400,000.00 CITIGRP 91.19 3,100,585.80 (289,180.20) (295,357.63) DTD 09/25/2020 0.375% 09/23/2025
1.98 5.11
FANNIE MAE NOTES 3135G06G3 2,040,000.00 NOMURA 90.96 1,855,649.28 (183,575.52) (184,021.61) DTD 11/12/2020 0.500% 11/07/2025
2.09 5.09
FANNIE MAE NOTES 3135G06G3 2,215,000.00 BARCLAY 90.96 2,014,834.88 (192,235.42) (196,820.80) DTD 11/12/2020 0.500% 11/07/2025
2.09 5.09
Security Type Sub-Total 38,760,000.00 35,859,715.57 (3,008,986.43) (2,925,578.51) 1.70 5.22 Corporate Note
US BANK NA CINCINNATI CORP NOTES 91159HHV5 2,860,000.00 GOLDMAN 01/05/24 99.00 2,831,388.56 (164,146.84) (36,608.61) (CALLAB
DTD 02/04/2019 3.375% 02/05/2024
0.27 6.29
PFIZER INC CORP NOTES 717081ES8 3,445,000.00 BONY 02/15/24 98.72 3,400,900.56 (85,473.89) (47,287.46) DTD 03/11/2019 2.950% 03/15/2024
0.38 5.81
AMAZON.COM INC CORPORATE NOTES 023135BW5 1,590,000.00 JPM_CHA 96.89 1,540,579.62 (47,098.98) (48,945.93) DTD 05/12/2021 0.450% 05/12/2024
0.62 5.65
JP MORGAN CHASE BANK CORP NOTE 46625HJX9 1,320,000.00 JPM_CHA 98.71 1,303,016.88 (158,011.92) (40,895.31) DTD 05/13/2014 3.625% 05/13/2024
0.61 5.76
WALMART INC CORPORATE NOTES 931142EL3 4,000,000.00 CITIGRP 06/08/24 97.96 3,918,328.00 (206,512.00) (99,148.21) DTD 04/23/2019 2.850% 07/08/2024
0.69 5.58
PACCAR FINANCIAL CORP CORPORATE 69371RQ66 1,810,000.00 MITSU 95.09 1,721,210.45 (117,803.85) (97,074.56) NOTES
DTD 02/06/2020 1.800% 02/06/2025
1.34 5.62
CITY OF MODESTO - COMBINED PORTFOLIO Page 23
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Managed Account Fair Market Value & Analytics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
MASTERCARD INC CORP NOTES 57636QAN4 1,760,000.00 JSEB 02/03/25 95.28 1,676,957.92 (159,267.68) (104,626.15) (CALLABLE)
DTD 12/03/2019 2.000% 03/03/2025
1.33 5.49
AMAZON.COM INC CORPORATE NOTES 023135CE4 3,430,000.00 JPM_CHA 96.56 3,312,155.49 (112,390.81) (115,057.95) DTD 04/13/2022 3.000% 04/13/2025
1.49 5.36
JPMORGAN CHASE & CO (CALLABLE) CORP 46647PCH7 865,000.00 JPM_CHA 06/01/24 96.67 836,179.93 (28,820.07) (28,820.07) NOTE
DTD 06/01/2021 0.824% 06/01/2025
0.67 2.88
BRISTOL-MYERS SQUIBB CO CORPORATE 110122DN5 2,230,000.00 MERRILL 10/13/25 90.72 2,022,957.88 (187,931.02) (197,808.67) NOTES
DTD 11/13/2020 0.750% 11/13/2025
2.02 5.45
BANK OF NY MELLON CORP (CALLABLE) 06406RAQ0 3,465,000.00 US_BANC 12/28/25 89.81 3,112,086.29 (353,745.31) (353,294.63) CORPOR
DTD 01/28/2021 0.750% 01/28/2026
2.23 5.47
BANK OF AMERICA CORP NOTES 06051GKM0 2,025,000.00 MERRILL 04/02/25 95.85 1,941,000.98 (83,999.02) (83,999.02) (CALLABLE)
DTD 03/22/2022 3.384% 04/02/2026
1.46 5.17
MICROSOFT CORP (CALLABLE) NOTES 594918BR4 3,000,000.00 TD 05/08/26 92.89 2,786,829.00 (246,321.00) (233,714.05) DTD 08/08/2016 2.400% 08/08/2026
2.53 5.10
BANK OF AMERICA NA CORPORATE NOTES 06428CAA2 3,750,000.00 MERRILL 99.49 3,730,931.25 (18,768.75) (18,780.79) DTD 08/18/2023 5.526% 08/18/2026
2.69 5.72
MASTERCARD INC CORP NOTES 57636QAG9 2,560,000.00 CSFB 08/21/26 93.59 2,395,868.16 (38,231.04) (63,147.07) (CALLABLE)
DTD 11/21/2016 2.950% 11/21/2026
2.76 5.19
TARGET CORP CORP NOTES (CALLABLE) 87612EBM7 365,000.00 CITIGRP 12/15/26 90.23 329,331.47 (35,048.03) (35,258.05) DTD 01/24/2022 1.950% 01/15/2027
3.11 5.22
MICROSOFT CORP CORP NOTES 594918BY9 3,000,000.00 GOLDMAN 11/06/26 94.90 2,847,126.00 (67,044.00) (83,438.49) (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
2.96 4.97
HOME DEPOT INC CORP NOTES 437076BT8 3,610,000.00 TD 06/14/27 91.58 3,306,045.22 (99,628.78) (129,164.05) (CALLABLE)
DTD 09/14/2017 2.800% 09/14/2027
3.53 5.18
CITY OF MODESTO - COMBINED PORTFOLIO Page 24
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Managed Account Fair Market Value & Analytics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
JPMORGAN CHASE CORP NOTES 46647PCW4 1,535,000.00 MERRILL 02/24/27 90.65 1,391,460.62 (12,097.33) (13,152.11) (CALLABLE)
DTD 02/24/2022 2.947% 02/24/2028
3.24 5.36
WALMART INC CORPORATE NOTES 931142FB4 1,220,000.00 BARCLAY 03/15/28 95.38 1,163,625.02 (53,654.38) (53,860.62) (CALLABLE)
DTD 04/18/2023 3.900% 04/15/2028
4.12 5.05
APPLE INC CORP NOTES CALLABLE 037833ET3 5,200,000.00 HSBC 04/10/28 96.02 4,993,107.60 (223,272.40) (222,027.19) DTD 05/10/2023 4.000% 05/10/2028
4.11 4.98
JOHN DEERE CAPITAL CORP CORPORATE 24422EXB0 495,000.00 SIEBERT 98.51 487,624.50 (14,107.50) (13,816.41) NOTES
DTD 07/14/2023 4.950% 07/14/2028
4.28 5.30
JOHN DEERE CAPITAL CORP CORPORATE 24422EXB0 895,000.00 TD 98.51 881,664.50 (22,025.95) (21,668.42) NOTES
DTD 07/14/2023 4.950% 07/14/2028
4.28 5.30
JOHN DEERE CAPITAL CORP CORPORATE 24422EXB0 1,165,000.00 CITIGRP 98.51 1,147,641.50 (15,622.65) (15,697.71) NOTES
DTD 07/14/2023 4.950% 07/14/2028
4.28 5.30
PACCAR FINANCIAL CORP CORPORATE 69371RS64 1,130,000.00 TD 98.68 1,115,080.61 (7,834.29) (7,994.25) NOTES
DTD 08/10/2023 4.950% 08/10/2028
4.35 5.26
TOYOTA MOTOR CREDIT CORP 89236TLB9 2,800,000.00 MERRILL 99.41 2,783,561.20 (11,566.80) (11,519.81)
CORPORATE NOTES
DTD 09/11/2023 5.250% 09/11/2028
4.41 5.39
CITIBANK NA CORP NOTES (CALLABLE) 17325FBB3 5,650,000.00 CITIGRP 08/29/28 99.99 5,649,378.50 (621.50) (621.50) DTD 09/29/2023 5.803% 09/29/2028
4.35 5.81
Security Type Sub-Total 65,175,000.00 62,626,037.71 (2,571,045.79) (2,177,427.09) 2.52 5.41 Commercial Paper
THUNDER BAY FUNDING LLC COMM PAPER 88602TBT9 10,630,000.00 GOLDMAN 97.59 10,374,072.12 86,358.12 (9,548.10) DTD 08/02/2023 0.000% 02/27/2024
0.43 5.92
LMA AMERICAS LLC COMM PAPER 53944QC81 10,757,000.00 JPM_CHA 97.43 10,480,631.16 30,940.72 (9,362.17) DTD 09/07/2023 0.000% 03/08/2024
0.46 5.93
Security Type Sub-Total 21,387,000.00 20,854,703.28 117,298.84 (18,910.27) 0.45 5.93 CITY OF MODESTO - COMBINED PORTFOLIO Page 25
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Managed Account Fair Market Value & Analytics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Certificate of Deposit
TORONTO DOMINION BANK NY CERT 89115B6F2 3,355,000.00 TD 99.97 3,353,933.45 (1,066.55) (1,066.55) DEPOS
DTD 10/31/2022 5.470% 10/25/2024
1.02 5.43
COOPERAT RABOBANK UA/NY CERT DEPOS 21684LGS5 3,500,000.00 RABOBAN 97.90 3,426,465.00 (73,535.00) (73,535.00) DTD 07/20/2023 5.080% 07/17/2026
2.62 5.90
Security Type Sub-Total 6,855,000.00 6,780,398.45 (74,601.55) (74,601.55) 1.83 5.67 Bank Note
WELLS FARGO BANK NA BANK NOTES 94988J6D4 5,635,000.00 WELLS_F 07/07/26 99.38 5,600,203.88 (21,441.17) (21,994.55) (CALLABLE
DTD 08/09/2023 5.450% 08/07/2026
2.66 5.68
Security Type Sub-Total 5,635,000.00 5,600,203.88 (21,441.17) (21,994.55) 2.66 5.68 Asset-Backed Security
CARMX 2020-1 A3 14315XAC2 10,218.14 MERRILL 99.87 10,204.99 (11.15) (12.66) DTD 01/22/2020 1.890% 12/16/2024
0.05 2.00
HAROT 2021-1 A3 43813GAC5 180,908.07 JPM_CHA 98.28 177,804.79 (3,099.96) (3,102.04) DTD 02/24/2021 0.270% 04/21/2025
0.32 1.38
HART 2021-A A3 44933LAC7 221,567.41 BARCLAY 98.03 217,195.02 (4,349.08) (4,361.98) DTD 04/28/2021 0.380% 09/15/2025
0.37 1.40
CARMX 2021-1 A3 14316NAC3 144,591.20 MITSU 97.51 140,991.57 (3,571.05) (3,586.71) DTD 01/27/2021 0.340% 12/15/2025
0.44 1.49
TAOT 2021-C A3 89239BAC5 728,243.61 BARCLAY 96.71 704,262.04 (23,923.52) (23,950.64) DTD 09/27/2021 0.430% 01/15/2026
0.61 1.90
CARMX 2021-2 A3 14314QAC8 403,440.64 MERRILL 97.02 391,410.52 (11,943.18) (11,987.22) DTD 04/21/2021 0.520% 02/17/2026
0.52 1.80
HART 2021-C A3 44935FAD6 398,443.30 SMBC 96.64 385,042.89 (13,311.48) (13,348.52) DTD 11/17/2021 0.740% 05/15/2026
0.65 2.06
DCENT 2021-A1 A1 254683CP8 775,000.00 CITIGRP 95.13 737,226.04 (37,608.03) (37,675.17) DTD 09/27/2021 0.580% 09/15/2026
0.94 2.29
CITY OF MODESTO - COMBINED PORTFOLIO Page 26
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Managed Account Fair Market Value & Analytics For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Asset-Backed Security
KCOT 2023-2A A3 500945AC4 890,000.00 JPM_CHA 98.96 880,732.52 (9,042.67) (9,051.87) DTD 07/26/2023 5.280% 01/18/2028
2.50 5.55
BAAT 2023-1A A3 06428AAC2 1,465,000.00 MERRILL 99.75 1,461,309.08 (3,635.40) (3,637.47) DTD 07/31/2023 5.530% 02/15/2028
2.06 5.59
HAROT 2023-3 A3 43815QAC1 2,220,000.00 MERRILL 99.69 2,213,048.96 (6,493.28) (6,504.44) DTD 08/22/2023 5.410% 02/18/2028
2.08 5.49
TAOT 2023-C A3 89231FAD2 690,000.00 BNP_PAR 99.20 684,513.88 (5,330.04) (5,334.34) DTD 08/15/2023 5.160% 04/17/2028
2.16 5.36
USAOT 2023-A A3 90291VAC4 3,015,000.00 JPM_CHA 99.78 3,008,349.21 (6,123.17) (6,119.47) DTD 09/15/2023 5.580% 05/15/2028
1.97 5.63
FITAT 2023-1 A3 31680EAD3 2,425,000.00 JPM_CHA 99.66 2,416,657.52 (8,192.13) (8,195.35) DTD 08/23/2023 5.530% 08/15/2028
2.14 5.61
CHAIT 2023-A1 A 161571HT4 3,020,000.00 JPM_CHA 99.45 3,003,470.63 (15,692.23) (15,691.81) DTD 09/15/2023 5.160% 09/15/2028
2.68 5.29
AMXCA 2023-3 A 02582JKD1 3,090,000.00 CITIGRP 99.66 3,079,481.64 (10,380.24) (10,374.05) DTD 09/19/2023 5.230% 09/15/2028
2.68 5.31
Security Type Sub-Total 19,677,412.37 19,511,701.30 (162,706.61) (162,933.74) 2.07 4.97 Managed Account Sub-Total 441,836,182.72 415,773,123.21 (15,541,759.44) (18,051,139.77) 2.39 5.13 Total Investments $417,442,267.90
$1,669,144.69
$415,773,123.21
Accrued Interest
Securities Sub-Total $441,836,182.72 ($15,541,759.44) ($18,051,139.77) 2.39 5.13% CITY OF MODESTO - COMBINED PORTFOLIO Page 27
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Managed Account Security Transactions & Interest For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
BUY
09/11/23 TOYOTA MOTOR CREDIT CORP
CORPORATE NOTES
DTD 09/11/2023 5.250% 09/11/2028
09/06/23 89236TLB9 2,800,000.00 (2,795,128.00) 0.00 (2,795,128.00) 09/07/23 LMA AMERICAS LLC COMM PAPER
DTD 09/07/2023 0.000% 03/08/2024
09/07/23 53944QC81 10,757,000.00 (10,449,690.44) 0.00 (10,449,690.44) 09/14/23 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
09/07/23 3137HAMH6 3,800,000.00 (3,743,786.60) (6,380.83) (3,750,167.43) 09/14/23 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
09/07/23 3137HAMG8 1,900,000.00 (1,871,585.50) (3,190.42) (1,874,775.92) 09/15/23 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
09/07/23 161571HT4 3,020,000.00 (3,019,162.86) 0.00 (3,019,162.86) 09/15/23 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
09/07/23 90291VAC4 3,015,000.00 (3,014,472.38) 0.00 (3,014,472.38) 09/19/23 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
09/12/23 02582JKD1 3,090,000.00 (3,089,861.88) 0.00 (3,089,861.88) 09/18/23 JPMORGAN CHASE CORP NOTES
(CALLABLE)
DTD 02/24/2022 2.947% 02/24/2028
09/14/23 46647PCW4 1,535,000.00 (1,403,557.95) (3,015.76) (1,406,573.71) 09/28/23 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
09/19/23 3137HAMN3 2,155,000.00 (2,154,989.23) (8,520.87) (2,163,510.10) 09/28/23 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
09/20/23 3137HAMS2 3,800,000.00 (3,754,578.60) (13,680.00) (3,768,258.60) 09/28/23 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
09/20/23 3137HAMR4 3,690,000.00 (3,632,092.83) (13,284.00) (3,645,376.83) 09/21/23 US TREASURY BILL
DTD 03/30/2023 0.000% 09/28/2023
09/21/23 912796CS6 9,350,000.00 (9,340,480.66) 0.00 (9,340,480.66) 09/29/23 CITIBANK NA CORP NOTES (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
09/26/23 17325FBB3 5,650,000.00 (5,650,000.00) 0.00 (5,650,000.00) Transaction Type Sub-Total 54,562,000.00 (53,919,386.93) (48,071.88) (53,967,458.81)
INTEREST
09/01/23 09/01/23 MONEY MARKET FUND MONEY0002 0.00 0.00 49,775.16 49,775.16 09/25/23 FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
09/01/23 3137F1G44 2,275,000.00 0.00 6,148.19 6,148.19
CITY OF MODESTO - COMBINED PORTFOLIO Page 28
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Managed Account Security Transactions & Interest For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
INTEREST
09/25/23 FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
09/01/23 3137BXQY1 4,000,000.00 0.00 10,746.67 10,746.67 09/25/23 FANNIEMAE-ACES
DTD 04/01/2014 3.346% 03/01/2024
09/01/23 3136AJB54 390,419.47 0.00 1,088.62 1,088.62
09/25/23 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
09/01/23 3137HAD45 2,813,642.80 0.00 11,200.64 11,200.64 09/25/23 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
09/01/23 3137BTUM1 2,475,000.00 0.00 6,903.19 6,903.19
09/25/23 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
09/01/23 3137HACX2 3,500,000.00 0.00 14,055.42 14,055.42 09/25/23 FHLMC MULTIFAMILY STRUCTURED P
DTD 08/01/2017 3.117% 06/01/2027
09/01/23 3137F2LJ3 3,530,000.00 0.00 9,169.18 9,169.18
09/25/23 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
09/01/23 3136BQDE6 3,500,000.00 0.00 12,220.83 12,220.83 09/03/23 MASTERCARD INC CORP NOTES
(CALLABLE)
DTD 12/03/2019 2.000% 03/03/2025
09/03/23 57636QAN4 1,760,000.00 0.00 17,600.00 17,600.00 09/14/23 HOME DEPOT INC CORP NOTES
(CALLABLE)
DTD 09/14/2017 2.800% 09/14/2027
09/14/23 437076BT8 3,610,000.00 0.00 50,540.00 50,540.00 09/15/23 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
09/15/23 06428AAC2 1,465,000.00 0.00 6,751.21 6,751.21
09/15/23 KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
09/15/23 500945AC4 890,000.00 0.00 3,916.00 3,916.00
09/15/23 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
09/15/23 89239BAC5 782,598.78 0.00 280.43 280.43
09/15/23 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
09/15/23 254683CP8 775,000.00 0.00 374.58 374.58
09/15/23 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
09/15/23 31680EAD3 2,425,000.00 0.00 8,195.15 8,195.15
09/15/23 US TREASURY N/B NOTES
DTD 09/15/2021 0.375% 09/15/2024
09/15/23 91282CCX7 4,505,000.00 0.00 8,446.88 8,446.88
09/15/23 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
09/15/23 89231FAD2 690,000.00 0.00 2,967.00 2,967.00
CITY OF MODESTO - COMBINED PORTFOLIO Page 29
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Managed Account Security Transactions & Interest For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
INTEREST
09/15/23 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
09/15/23 44933LAC7 247,634.74 0.00 78.42 78.42
09/15/23 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
09/15/23 14314QAC8 439,519.49 0.00 190.46 190.46
09/15/23 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
09/15/23 14316NAC3 160,339.49 0.00 45.43 45.43
09/15/23 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
09/15/23 44935FAD6 426,491.23 0.00 263.00 263.00
09/15/23 CARMX 2020-1 A3
DTD 01/22/2020 1.890% 12/16/2024
09/15/23 14315XAC2 36,976.77 0.00 58.24 58.24
09/15/23 PFIZER INC CORP NOTES
DTD 03/11/2019 2.950% 03/15/2024
09/15/23 717081ES8 3,445,000.00 0.00 50,813.75 50,813.75 09/18/23 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
09/18/23 43815QAC1 2,220,000.00 0.00 8,674.03 8,674.03
09/21/23 HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
09/21/23 43813GAC5 207,599.52 0.00 46.71 46.71
09/23/23 FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
09/23/23 3137EAEX3 3,530,000.00 0.00 6,618.75 6,618.75
09/23/23 INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
09/23/23 4581X0DZ8 4,095,000.00 0.00 10,237.50 10,237.50 09/30/23 US TREASURY N/B NOTES
DTD 03/31/2022 2.500% 03/31/2027
09/30/23 91282CEF4 910,000.00 0.00 11,375.00 11,375.00
09/30/23 US TREASURY N/B NOTES
DTD 03/31/2023 3.625% 03/31/2028
09/30/23 91282CGT2 2,675,000.00 0.00 48,484.38 48,484.38 09/30/23 US TREASURY N/B NOTES
DTD 09/30/2022 4.125% 09/30/2027
09/30/23 91282CFM8 5,380,000.00 0.00 110,962.50 110,962.50 09/30/23 US TREASURY NOTES
DTD 09/30/2020 0.250% 09/30/2025
09/30/23 91282CAM3 5,650,000.00 0.00 7,062.50 7,062.50
09/30/23 US TREASURY N/B NOTES
DTD 09/30/2021 0.875% 09/30/2026
09/30/23 91282CCZ2 4,310,000.00 0.00 18,856.25 18,856.25 09/30/23 US TREASURY N/B NOTES
DTD 03/31/2021 0.750% 03/31/2026
09/30/23 91282CBT7 7,405,000.00 0.00 27,768.75 27,768.75 09/30/23 US TREASURY N/B NOTES
DTD 03/31/2021 1.250% 03/31/2028
09/30/23 91282CBS9 2,555,000.00 0.00 15,968.75 15,968.75 CITY OF MODESTO - COMBINED PORTFOLIO Page 30
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Managed Account Security Transactions & Interest For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
Transaction Type Sub-Total 83,080,222.29 0.00 537,883.57 537,883.57
MATURITY
09/07/23 LMA AMERICAS LLC COMM PAPER
DTD 05/05/2023 0.000% 09/07/2023
09/07/23 53944RW79 10,450,000.00 10,450,000.00 0.00 10,450,000.00 184,750.19 0.00 09/16/23 JPMORGAN CHASE CORP NOTES
(CALLED,OMD 9/
DTD 09/16/2020 0.653% 09/16/2023
09/16/23 46647PBS4 1,405,000.00 1,405,000.00 4,587.33 1,409,587.33 0.00 0.00 09/28/23 US TREASURY BILL
DTD 03/30/2023 0.000% 09/28/2023
09/28/23 912796CS6 9,350,000.00 9,350,000.00 0.00 9,350,000.00 9,519.34 0.00 Transaction Type Sub-Total 21,205,000.00 21,205,000.00 4,587.33 21,209,587.33 194,269.53 0.00
PAYDOWNS
09/25/23 FANNIEMAE-ACES
DTD 04/01/2014 3.346% 03/01/2024
09/01/23 3136AJB54 927.48 927.48 0.00 927.48 (45.07) 0.00 09/25/23 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
09/01/23 3137HAD45 1,364.44 1,364.44 0.00 1,364.44 0.03 0.00 09/15/23 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
09/15/23 44935FAD6 28,047.93 28,047.93 0.00 28,047.93 6.26 0.00 09/15/23 CARMX 2020-1 A3
DTD 01/22/2020 1.890% 12/16/2024
09/15/23 14315XAC2 26,758.63 26,758.63 0.00 26,758.63 5.25 0.00 09/15/23 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
09/15/23 89239BAC5 54,355.17 54,355.17 0.00 54,355.17 4.33 0.00 09/15/23 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
09/15/23 14316NAC3 15,748.29 15,748.29 0.00 15,748.29 3.11 0.00 09/15/23 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
09/15/23 14314QAC8 36,078.85 36,078.85 0.00 36,078.85 7.77 0.00 09/15/23 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
09/15/23 44933LAC7 26,067.33 26,067.33 0.00 26,067.33 2.74 0.00 09/21/23 HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
09/21/23 43813GAC5 26,691.45 26,691.45 0.00 26,691.45 0.49 0.00 Transaction Type Sub-Total 216,039.57 216,039.57 0.00 216,039.57 (15.09) 0.00 SELL
CITY OF MODESTO - COMBINED PORTFOLIO Page 31
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Managed Account Security Transactions & Interest For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
SELL
09/11/23 US TREASURY NOTES
DTD 09/30/2016 1.375% 09/30/2023
09/06/23 912828T26 540,000.00 538,839.84 3,327.05 542,166.89 1,476.56 4.90 FIFO 09/11/23 TOYOTA MOTOR CREDIT CORP CORP
NOTES
DTD 09/20/2018 3.450% 09/20/2023
09/06/23 89236TFN0 2,230,000.00 2,228,795.80 36,544.13 2,265,339.93 18,620.50 (1,103.40) FIFO 09/14/23 US TREASURY N/B NOTES
DTD 04/15/2021 0.375% 04/15/2024
09/11/23 91282CBV2 2,520,000.00 2,447,254.69 3,924.59 2,451,179.28 (74,615.62) (73,115.57) FIFO 09/14/23 US TREASURY N/B NOTES
DTD 06/15/2021 0.250% 06/15/2024
09/11/23 91282CCG4 3,890,000.00 3,742,605.47 2,417.96 3,745,023.43 45,282.04 (81,161.96) FIFO 09/14/23 US TREASURY NOTES
DTD 09/30/2016 1.375% 09/30/2023
09/11/23 912828T26 5,350,000.00 5,340,177.73 33,565.40 5,373,743.13 16,300.78 (102.07) FIFO 09/19/23 US TREASURY N/B NOTES
DTD 06/15/2021 0.250% 06/15/2024
09/18/23 91282CCG4 595,000.00 572,919.92 390.16 573,310.08 7,391.01 (12,133.59) FIFO 09/19/23 US TREASURY NOTES
DTD 08/31/2017 1.875% 08/31/2024
09/18/23 9128282U3 135,000.00 130,575.59 132.13 130,707.72 (7,920.70) (5,090.28) FIFO 09/19/23 US TREASURY NOTES
DTD 07/31/2017 2.125% 07/31/2024
09/18/23 9128282N9 2,450,000.00 2,381,667.97 7,073.71 2,388,741.68 (107,474.61) (75,124.48) FIFO 09/21/23 US TREASURY NOTES
DTD 10/31/2017 2.250% 10/31/2024
09/20/23 9128283D0 460,000.00 444,600.78 4,050.00 448,650.78 (30,439.06) (18,750.58) FIFO 09/21/23 US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
09/20/23 9128283J7 1,215,000.00 1,169,579.88 7,971.36 1,177,551.24 (70,384.57) (51,390.77) FIFO 09/21/23 US TREASURY NOTES
DTD 08/31/2017 1.875% 08/31/2024
09/20/23 9128282U3 1,495,000.00 1,446,412.50 1,617.19 1,448,029.69 (87,305.66) (55,918.87) FIFO 09/21/23 US TREASURY N/B NOTES
DTD 09/15/2021 0.375% 09/15/2024
09/20/23 91282CCX7 4,505,000.00 4,288,900.78 278.47 4,289,179.25 24,460.74 (119,012.24) FIFO 09/21/23 US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
09/20/23 9128283J7 185,000.00 178,084.18 1,213.75 179,297.93 (11,201.17) (7,960.21) FIFO 09/21/23 US TREASURY NOTES
DTD 10/02/2017 2.125% 09/30/2024
09/20/23 9128282Y5 1,850,000.00 1,789,802.73 18,689.55 1,808,492.28 (115,480.47) (71,563.06) FIFO 09/29/23 US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
09/27/23 9128283J7 3,265,000.00 3,144,603.13 22,937.52 3,167,540.65 (196,027.54) (138,490.74) FIFO 09/29/23 US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
09/27/23 9128283J7 2,310,000.00 2,224,818.75 16,228.38 2,241,047.13 (218,096.48) (128,606.99) FIFO CITY OF MODESTO - COMBINED PORTFOLIO Page 32
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Managed Account Security Transactions & Interest For the Month Ending September 30, 2023 CITY OF MODESTO - Combined Portfolio
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
SELL
09/29/23 US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
09/29/23 9128283J7 20,000.00 19,267.19 140.51 19,407.70 (1,883.59) (1,108.79) FIFO Transaction Type Sub-Total 33,015,000.00 32,088,906.93 160,501.86 32,249,408.79 (807,297.84) (840,628.70) Managed Account Sub-Total (409,440.43) 654,900.88 245,460.45 (613,043.40) (840,628.70) Total Security Transactions ($409,440.43) $654,900.88 $245,460.45 ($613,043.40) ($840,628.70) CITY OF MODESTO - COMBINED PORTFOLIO Page 33
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Attachment 3
City of Modesto Combined Yields
Month
Ending
Combined
Yield
CAMP
Balance
CAMP Monthly
Distribution Yields
Long Term
Amortized Cost
Balance
Long Term
Portfolio Yield
Short Term
Amortized Cost
Balance
Short Term
Portfolio Yield
10/31/2021 0.91% 123,744,124.02 0.05% 274,089,339.67 1.30% 11/30/2021 0.90% 123,749,269.51 0.05% 275,079,950.15 1.28% 12/31/2021 0.91% 123,754,558.86 0.05% 274,968,424.92 1.29% 1/31/2022 0.92% 123,759,932.29 0.05% 276,103,753.02 1.31% 2/28/2022 0.92% 106,765,158.19 0.06% 276,530,404.21 1.31% 39,948,433.34 0.53% 3/31/2022 0.98% 106,788,084.24 0.25% 277,035,730.56 1.33% 39,948,380.00 0.53% 4/30/2022 1.39% 30,016,017.61 0.50% 353,203,903.46 1.56% 39,984,016.67 0.53% 5/31/2022 1.47% 50,044,305.28 0.82% 353,781,386.85 1.59% 39,880,961.12 1.26% 6/30/2022 1.56% 75,106,114.53 1.14% 354,423,884.74 1.64% 39,871,394.45 1.66% 7/31/2022 1.66% 46,186,072.35 1.64% 354,553,148.20 1.66% 39,928,141.66 1.66% 8/31/2022 1.79% 46,276,184.59 2.30% 356,564,454.56 1.69% 39,858,625.00 2.14% 9/30/2022 1.95% 46,375,593.86 2.61% 356,228,719.05 1.71% 39,880,797.64 3.34% 10/31/2022 2.03% 46,499,174.80 3.14% 357,511,536.00 1.74% 39,981,172.30 3.34% 11/30/2022 2.18% 46,648,406.54 3.90% 357,994,150.30 1.78% 40,170,337.16 3.76% 12/31/2022 2.29% 46,818,929.81 4.30% 357,777,379.76 1.84% 40,298,306.29 3.93% 1/31/2023 2.48% 46,999,023.63 4.53% 358,294,563.63 1.95% 40,452,260.96 4.84% 2/28/2023 2.51% 47,169,689.38 4.73% 358,174,068.29 1.94% 40,550,744.43 4.97% 3/31/2023 2.57% 47,361,889.08 4.80% 359,784,568.86 2.01% 40,708,200.79 4.97% 4/30/2023 2.58% 47,555,527.53 4.97% 357,043,234.53 1.99% 40,860,577.92 4.97% 5/31/2023 2.71% 47,763,982.55 5.16% 360,186,419.97 2.10% 41,114,697.00 5.21% 6/30/2023 2.75% 47,969,832.62 5.24% 360,251,679.25 2.14% 41,289,235.20 5.21% 7/31/2023 2.94% 48,186,346.94 5.31% 360,659,807.46 2.35% 41,419,189.81 5.28% 8/31/2023 3.14% 48,412,208.12 5.52% 392,278,686.76 2.60% 41,598,139.19 5.44% 9/30/2023 3.36% 48,632,969.13 5.55% 392,056,693.34 2.85% 41,767,569.64 5.55% Notes:
1. Long and Short Term Portfolio AC Balance is the amortized cost value of the separately managed portfolios.
2. Long and Short Term Portfolio Yields are the separately managed portfolios yield at costs. #15..
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Attachment 4
City of Modesto - Portfolio Holdings and Earnings Projections Issuer Par Maturity Date Current Yield
Years to
Maturity
Expected Earnings
Rate to June 30, 2024
Expected Earnings
to June 30, 2024
Main Portfolio
Federal Agency
FNMA 3,500,000 1/7/2025 5.390% 1 37,948 0.85% 22,361
FHLMC 640,000 2/12/2025 5.350% 1 10,409 1.18% 5,693
FHLB 2,370,000 4/14/2025 5.260% 2 21,930 0.60% 10,692
FNMA 3,195,000 4/22/2025 5.270% 2 33,280 0.67% 15,998
FNMA 475,000 4/22/2025 5.270% 2 4,403 0.59% 2,116
FNMA 3,345,000 4/22/2025 5.270% 2 31,857 0.61% 15,314
FNMA 1,910,000 4/22/2025 5.270% 2 15,469 0.52% 7,436
FNMA 3,675,000 6/17/2025 5.230% 2 34,166 0.54% 14,954
FNMA 200,000 6/17/2025 5.230% 2 1,455 0.42% 637
FNMA 1,075,000 6/17/2025 5.230% 2 7,359 0.40% 3,221
FNMA 3,820,000 6/17/2025 5.230% 2 26,741 0.41% 11,705
FNMA 1,190,000 6/17/2025 5.230% 2 7,396 0.36% 3,237
FHLMC 2,220,000 7/21/2025 5.190% 2 19,109 0.48% 7,933
FNMA 2,360,000 8/25/2025 5.170% 2 21,117 0.47% 8,325
FNMA 550,000 8/25/2025 5.170% 2 4,605 0.44% 1,816
FNMA 450,000 8/25/2025 5.170% 2 4,218 0.49% 1,663
FHLMC 3,400,000 9/23/2025 5.110% 2 29,404 0.44% 11,128
FHLMC 130,000 9/23/2025 5.110% 2 1,036 0.40% 392
FNMA 2,215,000 11/7/2025 5.090% 2 26,737 0.57% 9,527
FNMA 2,040,000 11/7/2025 5.090% 2 21,824 0.51% 7,776
Federal Agency CMBS
FNMA 389,492 3/1/2024 6.090% 0 3,487 3.24% 9,480
FHLMC 2,475,000 11/1/2026 5.210% 3 329,846 4.31% 80,122 FHLMC 4,000,000 3/1/2027 5.200% 3 680,625 4.98% 149,432 FHLMC 2,275,000 4/1/2027 5.230% 4 396,317 4.97% 84,903
FHLMC 3,530,000 6/1/2027 5.190% 4 648,705 5.01% 132,646 FHLMC 3,690,000 4/1/2028 5.360% 5 863,300 5.19% 143,796 FHLMC 1,900,000 5/1/2028 5.370% 5 437,050 5.01% 71,494
FHLMC 3,500,000 6/1/2028 5.260% 5 750,783 4.59% 120,583 FHLMC 2,812,278 6/1/2028 5.230% 5 627,987 4.78% 100,861 FNMA 3,500,000 7/1/2028 5.250% 5 761,664 4.58% 120,217
FHLMC 2,155,000 8/1/2028 5.330% 5 550,015 5.27% 85,288
FHLMC 3,800,000 8/1/2028 5.320% 5 918,356 4.99% 142,405 FHLMC 3,800,000 9/1/2028 5.220% 5 949,944 5.07% 144,763 U.S. Treasury
U.S. Treasury 10,490,000 10/15/2023 5.090% 0 22,349 4.74% 373,082 U.S. Treasury 10,480,000 11/30/2023 5.300% 0 95,183 4.88% 383,683 U.S. Treasury 2,255,000 11/30/2024 5.430% 1 13,282 0.50% 8,523 U.S. Treasury 4,445,000 12/15/2024 5.380% 1 144,502 2.68% 89,578 U.S. Treasury 4,400,000 2/15/2025 5.340% 1 164,299 2.70% 89,321 U.S. Treasury 2,300,000 2/15/2025 5.340% 1 154,901 4.88% 84,212 U.S. Treasury 4,945,000 4/30/2025 5.250% 2 49,532 0.63% 23,480 U.S. Treasury 4,230,000 6/30/2025 5.170% 2 202,369 2.73% 86,775 U.S. Treasury 4,340,000 8/31/2025 5.120% 2 44,006 0.53% 17,200 U.S. Treasury 4,635,000 8/31/2025 5.120% 2 244,004 2.74% 95,374 U.S. Treasury 4,550,000 9/30/2025 5.050% 2 61,083 0.67% 22,896 U.S. Treasury 1,100,000 9/30/2025 5.050% 2 17,714 0.80% 6,640 U.S. Treasury 5,010,000 10/31/2025 5.040% 2 80,848 0.77% 29,071 U.S. Treasury 6,930,000 10/31/2025 5.040% 2 112,813 0.78% 40,565 U.S. Treasury 4,250,000 11/30/2025 5.020% 2 98,227 1.07% 33,983 U.S. Treasury 4,635,000 11/30/2025 5.020% 2 276,941 2.75% 95,811 U.S. Treasury 1,040,000 12/31/2025 4.950% 2 10,638 0.45% 3,542 U.S. Treasury 500,000 12/31/2025 4.950% 2 4,873 0.43% 1,622 U.S. Treasury 3,735,000 12/31/2025 4.950% 2 74,764 0.89% 24,891 U.S. Treasury 2,400,000 1/31/2026 4.960% 2 45,175 0.80% 14,494 U.S. Treasury 5,775,000 1/31/2026 4.960% 2 171,929 1.27% 55,162 U.S. Treasury 5,000,000 1/31/2026 4.960% 2 216,914 1.85% 69,595 U.S. Treasury 7,980,000 1/31/2026 4.960% 2 550,786 2.95% 176,716 U.S. Treasury 3,210,000 2/28/2026 4.930% 2 54,477 0.70% 16,924 U.S. Treasury 6,000,000 2/28/2026 4.930% 2 167,427 1.15% 52,013 U.S. Treasury 4,645,000 2/28/2026 4.930% 2 309,577 2.76% 96,172 U.S. Treasury 4,925,000 3/31/2026 4.870% 3 107,116 0.87% 32,147 U.S. Treasury 2,480,000 3/31/2026 4.870% 3 47,066 0.76% 14,125 U.S. Treasury 1,405,000 5/31/2026 4.880% 3 32,557 0.87% 9,159 U.S. Treasury 4,615,000 5/31/2026 4.880% 3 340,023 2.76% 95,653 U.S. Treasury 4,800,000 5/31/2026 4.880% 3 383,291 2.99% 107,825 U.S. Treasury 4,640,000 8/31/2026 4.820% 3 372,679 2.75% 95,792 U.S. Treasury 4,310,000 9/30/2026 4.770% 3 358,220 2.77% 89,555 U.S. Treasury 4,545,000 11/15/2026 4.800% 3 427,870 3.01% 102,659 U.S. Treasury 9,220,000 2/15/2027 4.750% 3 889,183 2.85% 197,436 U.S. Treasury 910,000 3/31/2027 4.730% 4 128,551 4.03% 27,561 U.S. Treasury 6,480,000 4/30/2027 4.720% 4 677,614 2.92% 141,947 U.S. Treasury 5,545,000 6/30/2027 4.720% 4 622,369 2.99% 124,565 U.S. Treasury 1,200,000 8/15/2027 4.710% 4 153,682 3.30% 29,759 U.S. Treasury 2,985,000 8/15/2027 4.710% 4 393,476 3.40% 76,192 U.S. Treasury 5,380,000 9/30/2027 4.710% 4 920,187 4.27% 172,574 U.S. Treasury 8,775,000 10/31/2027 4.690% 4 1,402,916 3.91% 257,640 U.S. Treasury 2,715,000 10/31/2027 4.700% 4 422,855 3.81% 77,656 U.S. Treasury 3,160,000 10/31/2027 4.700% 4 468,668 3.63% 86,069 U.S. Treasury 4,250,000 12/31/2027 4.680% 4 683,300 3.78% 120,556 U.S. Treasury 3,450,000 1/31/2028 4.670% 4 548,286 3.66% 94,842 U.S. Treasury 2,220,000 1/31/2028 4.670% 4 338,864 3.52% 58,617 U.S. Treasury 2,825,000 2/29/2028 4.650% 4 530,490 4.25% 90,114 U.S. Treasury 2,970,000 2/29/2028 4.650% 4 563,628 4.29% 95,743 U.S. Treasury 2,675,000 3/31/2028 4.650% 5 439,543 3.65% 73,257 U.S. Treasury 2,555,000 3/31/2028 4.660% 5 401,803 3.49% 66,967 U.S. Treasury 3,320,000 4/30/2028 4.650% 5 548,529 3.60% 89,783 U.S. Treasury 6,530,000 4/30/2028 4.650% 5 1,018,120 3.40% 166,646 U.S. Treasury 4,100,000 6/30/2028 4.630% 5 849,838 4.36% 134,211 U.S. Treasury 780,000 8/31/2028 4.600% 5 164,172 4.28% 25,032 Commercial Paper
Thunder Bay Funding LLC 10,630,000 2/27/2024 5.920% 0 252,775 5.27% 420,466 LMA Americas LLC 10,757,000 3/8/2024 5.930% 0 272,799 5.31% 428,574 Negotiable CD
Toronto-Dominion Bank 3,355,000 10/25/2024 5.430% 1 195,520 5.44% 137,014 Rabobank Nederland 3,500,000 7/17/2026 5.900% 3 497,371 5.08% 133,477 9/30/2023
Earnings to
Maturity
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Attachment 4
City of Modesto - Portfolio Holdings and Earnings Projections Issuer Par Maturity Date Current Yield
Years to
Maturity
Expected Earnings
Rate to June 30, 2024
Expected Earnings
to June 30, 2024
9/30/2023
Earnings to
Maturity
Corporate Note
US Bancorp 2,860,000 2/5/2024 6.290% 0 22,756 3.54% 76,084 Pfizer Inc 3,445,000 3/15/2024 5.810% 0 42,381 3.45% 89,156 Amazon.Com Inc 1,590,000 5/12/2024 5.650% 1 4,892 1.23% 14,691 JPMorgan Chase & Co 1,320,000 5/13/2024 5.760% 1 5,289 1.34% 13,257 Wal-Mart Stores Inc 4,000,000 7/8/2024 5.580% 1 67,563 2.19% 65,647 Paccar Financial Corp 1,810,000 2/6/2025 5.620% 1 35,543 1.45% 19,675 Mastercard Inc 1,760,000 3/3/2025 5.490% 1 26,988 1.08% 14,221 Amazon.Com Inc 3,430,000 4/13/2025 5.360% 2 161,101 3.06% 78,684 JPMorgan Chase & Co 865,000 6/1/2025 2.880% 2 11,912 0.82% 5,351 Bristol-Myers Squibb Co 2,230,000 11/13/2025 5.450% 2 44,984 0.95% 15,904 The Bank Of New York Mellon Corporation 3,465,000 1/28/2026 5.470% 2 60,193 0.75% 19,380 Bank Of America Co 2,025,000 4/2/2026 5.170% 3 171,773 3.38% 51,438 Wells Fargo & Company 5,635,000 8/7/2026 5.680% 3 890,747 5.54% 234,227 Microsoft Corp 3,000,000 8/8/2026 5.100% 3 183,315 2.14% 48,158 Bank Of America Co 3,750,000 8/18/2026 5.720% 3 598,147 5.53% 155,643 Mastercard Inc 2,560,000 11/21/2026 5.190% 3 348,550 4.33% 83,191 Target Corp 365,000 1/15/2027 5.220% 3 23,893 1.99% 5,442 Microsoft Corp 3,000,000 2/6/2027 4.970% 3 408,478 4.06% 91,366 Home Depot Inc 3,610,000 9/14/2027 5.180% 4 594,241 4.16% 112,680 JPMorgan Chase & Co 1,535,000 2/24/2028 5.360% 4 346,946 5.13% 59,119 Wal-Mart Stores Inc 1,220,000 4/15/2028 5.050% 5 219,028 3.95% 36,175 Apple Inc 5,200,000 5/10/2028 4.980% 5 942,742 3.93% 153,391 Deere & Company 1,165,000 7/14/2028 5.300% 5 278,230 4.98% 43,588 Deere & Company 495,000 7/14/2028 5.300% 5 110,107 4.64% 17,249 Deere & Company 895,000 7/14/2028 5.300% 5 202,813 4.73% 31,773 Paccar Financial Corp 1,130,000 8/10/2028 5.260% 5 280,083 5.09% 43,211 Toyota Motor Corp 2,800,000 9/11/2028 5.390% 5 733,710 5.29% 111,193 Citigroup Inc 5,650,000 9/29/2028 5.810% 5 1,640,246 5.80% 246,127 Asset-Backed Securities
Carmax Auto Owner Trust 10,218 12/16/2024 2.000% 1 235 1.89% 145 Honda Auto Receivables 180,908 4/21/2025 1.380% 2 763 0.27% 367 Hyundai Auto Receivables 221,567 9/15/2025 1.400% 2 1,662 0.38% 636 Carmax Auto Owner Trust 144,591 12/15/2025 1.490% 2 1,100 0.34% 373 Toyota Motor Corp 728,244 1/15/2026 1.900% 2 7,221 0.43% 2,361 Carmax Auto Owner Trust 403,441 2/17/2026 1.800% 2 5,049 0.52% 1,588 Hyundai Auto Receivables 398,443 5/15/2026 2.060% 3 7,792 0.75% 2,228 Discover Card Execution Note Trust 775,000 9/15/2026 2.290% 3 13,413 0.58% 3,400 Kubota Credit Owners Trust 890,000 1/18/2028 5.550% 4 202,500 5.29% 35,318 Bank of America Auto Trust 1,465,000 2/15/2028 5.590% 4 354,975 5.53% 60,827 Honda Auto Receivables 2,220,000 2/18/2028 5.490% 4 527,641 5.42% 90,246 Toyota Motor Corp 690,000 4/17/2028 5.360% 5 162,194 5.17% 26,756 USAA Owners Trust 3,015,000 5/15/2028 5.630% 5 779,095 5.58% 126,390 Fifth Third Auto Trust 2,425,000 8/15/2028 5.610% 5 654,521 5.53% 100,696 American Express Co 3,090,000 9/15/2028 5.310% 5 802,439 5.23% 121,340 Chase Issurance 3,020,000 9/15/2028 5.290% 5 774,555 5.17% 117,124 Municipal Securities
California St 2,310,000 10/1/2023 2.370% 0 118 4.74% 82,156 Maryland St 620,000 8/1/2024 5.440% 1 2,688 0.52% 2,407 California State University 600,000 11/1/2024 5.730% 1 4,481 0.68% 3,085 State Of California 100,000 12/1/2024 5.640% 1 657 0.56% 420 University Of California 510,000 5/15/2025 5.250% 2 7,317 0.88% 3,381 University Of California 220,000 5/15/2025 5.250% 2 2,883 0.81% 1,332 Florida State Board of Administration Finance 1,295,000 7/1/2025 5.540% 2 28,568 1.26% 12,230 Florida State Board of Administration Finance 505,000 7/1/2025 5.540% 2 9,795 1.11% 4,194 Los Angeles Community College District 925,000 8/1/2025 5.150% 2 13,145 0.77% 5,368 New Jersey Turnpike Authority 505,000 1/1/2026 5.170% 2 11,937 1.05% 3,969 Supranational Securities
Intl Bank Of Reconstruction And Dev 1,790,000 11/24/2023 5.290% 0 869 3.84% 51,594 Inter-American Development Bank 4,095,000 9/23/2024 5.630% 1 21,141 0.52% 16,136 Overnight Investments 48,632,969 Varies Varies 5.20% 1,898,502 Totals (Main Portfolio) 490,469,152 39,975,919 3.29% 12,123,438 Notes:
1. Earnings projections are based on stated par value, future market expectations and current investment positions.
2. Earnings on overnight investments are based on the investment balances and the Fed Funds Futures rates.
3. Callable securities priced above par are considered to be called on their next call date. #15..
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Attachment 5
Issue Name / Type Trustee Bank Investment Total Amount
1993 Community Center Refinancing U.S. Bank First American Treasury Obligation Fund $1,719,508.17 1993 Golf Course Refinancing U.S. Bank First American Treasury Obligation Fund $512,675.31 Instl Res Tre and Agny Cash Adv6541 $2,451,188.51
Financial Guaranty Insurance Pol $1.00
CAMP $2,031,491.95
Total $4,482,681.46
Instl Res Tre and Agny Cash Adv6541 $255,255.33
CAMP $5,025,680.03
Total $5,280,935.36
2018 Wastewater Refunding Bank of New York Fidelity Inv MM Trsy Only $706.71 Fairview Village Refunding US Bank First American Treasury Obligation Fund $198,152.39 Blackrock Federal Fund Instl 30 $4,420.08
CAMP $2,877,340.27
Total $2,881,760.35
Other Post Employment Benefits Section 115
Trust PARS HighMark Plus Moderate $1,435,654.33
Pension Section 115 Trust PARS HighMark Plus Moderately Conservative $2,548,475.16 Athens Administrators (New Third Party
Administrator - Worker's Compensation) Wells Fargo Bank $750,000.00 George Hills Company - General Liability Claims
Administration Services California Bank & Trust $62,570.06 Kemper Sports Management Inc. BMO Harris Bank Business Money Market $30,946.04 Stanislaus Community Foundation Modesto Commerce Bank Charles Schwab $705,501.46 California Bank of
Commerce $3,259,486.24
Columbia Bank $135,820.64
Banner Bank $19,282.55
Village One #2 Refunding Bank of New York
Third-Party Construction Contract Retention
Cash with Fiscal Agent Investments
As of September 30, 2023
2008 Water Refunding COP Bank of New York
2008 Lease Revenue Bonds Bank of New York
#15..
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CITY OF MODESTO
COUNCIL AGENDA REPORT
DATE OF MEETING:
December 12, 2023
Date: November 15, 2023
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Kevin Wise, Interim Fire Chief
SUBJECT: Hazardous Materials MOU with the Stanislaus County Fire Warden’s Office CONTACT: Kevin Wise, Interim Fire Chief, [email protected], 209-572-9590 DESCRIPTION:
Consider approving a Memorandum of Understanding (MOU) with the Stanislaus County Fire Warden’s Office (SCFW) for Hazardous Materials Emergency Response, for a three-year term. (Funding Source: General Fund)
STRATEGIC PLAN ELEMENT:
This action supports the City of Modesto 2020-2025 Strategic Plan focus on quality of life under Goal A: Improve Community Safety.
BACKGROUND:
The City of Modesto approved a Hazardous Materials Response agreement on March 2, 2021 by Resolution 2021-075. The purpose of this agreement was to reestablish a hazardous materials team to respond to hazardous materials incidents throughout Stanislaus County. The previous agreement expired in 2005 and the cities and County had not been able to enter into another agreement until the approval of this MOU in 2021. Since 2005, the Modesto Fire Department, through local mutual aid, had still provided hazmat response throughout the County, but without a formal agreement in place. This Memorandum of Understanding will renew the operational agreement for hazmat response in Stanislaus County that has been successful for the last three years.
DISCUSSION:
The primary objective of this MOU is to ensure efficient operational capabilities and effectiveness to meet a “minimum” state of readiness for Hazardous Materials mitigation involving Hazmat Levels II through IV. Both SCFW and the Modesto Fire Department (MFD) believe this is a prudent and cost-efficient way to deliver important public safety services in an improved manner.
#16..
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City Council, December 12, 2023
Hazardous Materials MOU with the Stanislaus County Fire Warden’s Office
In order to meet Hazmat level requirements, MFD will upgrade to State Certified Hazmat Type I Team, which is appropriately equipped and trained to mitigate, and can function in all categories for all unknown industrial chemical hazards: liquids, aerosols, powders, solids, vapors and gas forms. MFD will retain the Special Operations Branch to address the needs of the County and City, as well as continue to provide an Administrative Battalion Chief that will provide administrative oversight and support to the Hazardous Materials Team as established by Resolution 2021-076.
The term of this MOU is for three (3) years, beginning February 1, 2024 through January 31, 2027.
FISCAL IMPACT:
There is no estimated cost for City under this MOU. SCFW shall provide $250,000 from Less Than County-Wide (LTCW) tax dollars annually to City, to cover personnel costs assigned to the Modesto Fire Department Hazmat Team, salary reimbursement for one Administrative Battalion Chief, and cost recovery for the incentive pay for additional Hazmat team members.
COMMITTEE RECOMMENDATION:
This MOU was not presented at the committee level and was approved by City Manager to go straight to Council.
RECOMMENDED COMMITTEE ACTION:
Staff Recommendations:
Resolution approving a Memorandum of Understanding (MOU) with the Stanislaus County Fire Warden’s Office (SCFW) for Hazardous Materials Emergency Response for a three-year term and authorizing the City Manager, or his designee, to execute the MOU.
Approved by:
Kevin Wise, Interim Fire Chief
Joseph P. Lopez, City Manager
Attachments:
1. Resolution
2. Memorandum of Understanding
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12/12/2023/Fire/KWise/Item X 1 2023-XX
MODESTO CITY COUNCIL
RESOLUTION NO. 2023-XX
RESOLUTION APPROVING A MEMORANDUM OF UNDERSTANDING
(MOU) WITH THE STANISLAUS COUNTY FIRE WARDEN’S OFFICE (SCFW) FOR HAZARDOUS MATERIALS EMERGENCY RESPONSE FOR A THREEYEAR TERM AND AUTHORIZING THE CITY MANAGER, OR HIS
DESIGNEE, TO EXECUTE THE MOU
WHEREAS, the City of Modesto approved a Hazardous Materials Response agreement on March 2, 2021 by Resolution 2021-075, with the purpose to reestablish a hazardous materials team to respond to hazardous materials incidents throughout Stanislaus County; and
WHEREAS, the previous agreement expired in 2005 and the cities and County had not been able to enter into another agreement until the approval of this MOU in 2021; and
WHEREAS, since 2005, the Modesto Fire Department, through local mutual aid, had still provided hazmat response throughout the County, but without a formal agreement in place; and
WHEREAS, this Memorandum of Understanding will renew the operational agreement for hazmat response in Stanislaus County that has been successful for the last three years; and
WHEREAS, the primary objective of this MOU is to ensure efficient operational capabilities and effectiveness to meet a “minimum” state of readiness for Hazardous Materials mitigation involving Hazmat Levels II through IV; and WHEREAS, both Stanislaus County Fire Warden and the Modesto Fire Department (MFD) believe this is a prudent and cost-efficient way to deliver important public safety services in an improved manner; and
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12/12/2023/Fire/KWise/Item X 2 2023-XX
WHEREAS, in order to meet Hazmat level requirements, MFD will upgrade to State Certified Hazmat Type I Team, which is appropriately equipped and trained to mitigate, and can function in all categories for all unknown industrial chemical hazards:
liquids, aerosols, powders, solids, vapors and gas forms. MFD will also retain the Special Operations Branch to address the needs of the County and City, as well as continue to provide an Administrative Battalion Chief that will provide administrative oversight and support to the Hazardous Materials Team as established by Resolution 2021-076; and
WHEREAS, the term of this MOU is for three (3) years, beginning February 1, 2024 through January 31, 2027; and
WHEREAS, there is no estimated cost for City under this MOU; SCFW shall provide $250,000 from Less Than County-Wide (LTCW) tax dollars annually to City to cover personnel costs assigned to the Modesto Fire Department Hazmat Team, salary reimbursement for one Administrative Battalion Chief, and cost recovery for the incentive pay for additional Hazmat team members.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves a Memorandum of Understanding (MOU) with the Stanislaus County Fire Warden’s Office (SCFW) for Hazardous Materials Emergency Response for a three-year term.
BE IT FURTHER RESOLVED that this City Manager, or his designee, is hereby authorized to execute the MOU, in a form approved by the City Attorney. #16..
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3 The foregoing resolution was introduced in a regular meeting of the Council of the City of Modesto held on the 12th day of December 2023, by Councilmember ________, who moved its adoption, which motion being duly seconded by Councilmember ______, was upon roll call carried and the resolution adopted by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
ATTEST: _____________________________
DIANE NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:
BY: _______________________________________
JOSE M. SANCHEZ, City Attorney
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1 MEMORANDUM OF UNDERSTANDING FOR SPECIAL
OPERATIONS EMERGENCY RESPONSE BETWEEN THE CITY
OF MODESTO AND THE STANISLAUS COUNTY FIRE
WARDEN’S OFFICE
This Memorandum of Understanding for Special Operations (“MOU”) is entered into as of February 1, 2024, by and between the City of Modesto, a municipal corporation (“MODESTO”), and the Stanislaus County Fire Warden’s Office (SCFW), a division of the Stanislaus County Sheriff’s Department (collectively, the “Parties”).
RECITALS
WHEREAS, MODESTO and the STANISLAUS COUNTY FIRE WARDEN desire to enter into an agreement for Special Operations Emergency Response.
WHEREAS, the Parties believe that this is a prudent and cost-efficient way to deliver important public safety services in an improved manner; and, WHEREAS, the Parties wish to enter an expanded MOU for Hazardous Materials Emergency Response; and
WHEREAS, the Parties are entering this Memorandum of Understanding (MOU) as authorized pursuant to California Government Code Sections 54980, et seq.; and, WHEREAS, each Party will continue to be governed by their currently designated governing authority; and
NOW THEREFORE, the Parties agree as follows:
1. Scope of Services.
(a) Definitions
(1) Special Operations Emergency Response can be classified as emergency or non-emergency with an emphasis on
technical rescue and hazardous materials.
(2) Technical Rescue can be defined as the application of special knowledge, skills, and equipment to resolve unique and/or rescue situations.
(3) Hazardous Materials responses can be classified as
emergency or non-emergency. An emergency response is
an incident that poses an immediate hazard to people,
environment or property. A non-emergency response is an incident that typically involves items such as household waste and does not pose an immediate hazard to people,
environment, or property.
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2 (4) Hazmat Alarm Levels
Level I- Level I responses are handled by host agency engine company personnel with a First Responder Operations (FRO) level. Spills, leaks, ruptures, and/or fires involving hazardous materials which can be reasonably contained, extinguished, or mitigated utilizing existing equipment, supplies and resources within the Agencies Home Jurisdiction (AHJ). These incidents are typically nuisance or known materials that do not require evacuation/sheltering of civilians.
Level II- Hazardous materials incidents, which can be
contained, mitigated or extinguished utilizing the resources available within the AHJ, Modesto Fire and/or Department of Environmental Resources (DER). Hazardous materials
incidents which require evacuation, Decon of a large
number of civilians, The release of a large quantity of a known or unknown chemical. Staffing Requirements for
LEVEL II typically require 8 Specialist
Level III- The hazardous materials incident has become a multi-agency involvement of large proportions but can be handled by existing resources within Stanislaus County
(AHJ, DER, MFD, , PD, SO). Spills, leaks and ruptures
which can be contained or mitigated utilizing available equipment, supplies and personnel. Fires involving
hazardous materials that are allowed to burn due to the ineffectiveness or danger from the use of extinguishing agents, or the unavailability of water. Hazardous materials incidents which require evacuation of civilians extending across city and county boundaries or result in serious
civilian injuries or deaths. Staffing Requirements for level III typically require 8 Specialist, DER, 4-person decon company and an incident management team.
Level IV- Hazardous materials incident has become one of multi-agency involvement of very large proportions and
requires additional resources from outside Stanislaus
County. Spills, leaks and/or ruptures which can be
contained or mitigated utilizing unavailable highly
specialized equipment and supplies. Hazardous materials incidents which require evacuation of civilians extending across city and county boundaries. Any situation that
exceeds personnel numbers, equipment needs or expertise.
Staffing Requirements for a level IV typically require all Specialist, DER, 4-person decon, Incident Management
Team, LE, OES, Region/State hazardous materials team.
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3 (b) Objective
(1) The primary objective is to ensure efficient operational capabilities and effectiveness to meet a “minimum” state of readiness for Hazardous Materials mitigation involving Hazmat Levels II through IV.
(2) MFD will upgrade to State Certified Hazmat Type I Team. A Type I team meets Type II and III requirements, and is
appropriately equipped and trained to mitigate, and can function in all categories for all unknown industrial chemical hazards:
liquids, aerosols, powders, solids, vapors and gas forms. A Type 1 company is fully capable to intervene and mitigate incidents involving WMD chemical and biological substances. The WMD and Biological component as well as staffing Levels (25 specialist) and funding are the final pieces that affect our Operational State of Readiness.
(3) A Special Operations Branch will be established within Modesto Fire to address the needs of the County and City. Modesto Fire will bring the experience and technical expertise together in one organization to provide and manage the services. The Special Operations Branch will function under the supervision of a Battalion Chief under the direction of the Operations Division Chief. The desired expansion of Special Operations would be based on funding and benchmarks established along with
performance expectations
(c) Administrative Battalion Chief
(1) MODESTO will provide an Administrative Battalion Chief that will provide administrative oversight and support to the Hazardous Materials Team. The Modesto Administrative
Battalion Chief may be assigned to other duties as needed to assist in the administrative support of MODESTO.
(2) MODESTO will add additional members to the Modesto Hazmat Team to meet the state requirements for a Type 1 Team
(d) Fiscal Impact
(1) The STANISLAUS COUNTY FIRE WARDEN’S OFFICE
shall provide $250,000 of Less Than County Wide (LTCW)
tax dollars annually to MODESTO, to cover personnel costs assigned to the Modesto Hazmat Team. Salary
reimbursement for 1-Administrative Battalion Chief and cost recovery for the incentive pay for additional Hazmat team #16..
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4 members.
2. The AHJ is responsible for filing the proper billing documentation regarding recovery from a Hazardous Material incident occurring within their AHJ. Recovery expenses for equipment and/or supplies used by MODESTO will be disputed between AHJ and MODESTO.
3. Initial Term of the MOU. The term of this MOU shall be for a period of three (3) years, to commence February 1, 2024.
4. Termination or Withdrawal. At any time and without cause, any Party may terminate the whole or any part, its participation in this MOU by giving at least twelve (12) months advance written notice to the other Parties.
5. Indemnification. The Parties to this MOU agree to defend, hold harmless and indemnify the other Parties, their elected and appointed officials, employees and agents, from any and all claims for injuries or damage to persons or property caused by the indemnifying party’s performance or failure to perform under this MOU.
6. Insurance. Each party shall secure and maintain, at its sole expense, appropriate insurance coverage, including workers’ compensation coverage, throughout the term of this Agreement. Prior to the effective date of the Agreement and subsequently upon the request of the other party, each party shall provide evidence of insurance coverage or satisfactory statements of self-insurance meeting the requirements specified below:
(a) Commercial General Liability Insurance, insurance with a minimum limit of liability per occurrence of Two Million Dollars ($2,000,000) for bodily injury and property damage. If Commercial General Liability Insurance or other form of insurance with a general aggregate limit is used, either the general aggregate limit shall apply separately to this project/location or the general aggregate limit shall be twice the required occurrence limit. This insurance shall indicate on the certificate of insurance the following coverages and indicate the policy aggregate limit applying to: premises and operations; broad form contractual; independent consultants and subcontractors; products and completed operations as applicable.
(b) Automobile Liability Insurance, with a minimum limit of liability per occurrence of One Million Dollars ($1,000,000) for bodily injury and property damage. This insurance shall cover any automobile for bodily #16..
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5 injury and property damage.
(c) Workers Compensation in at least the minimum statutory limits. With respect to Workers Compensation coverage, the party employing the Designated Fire Department Employee will provide Workers Compensation coverage for any injuries sustained in the normal course and scope of the Designated Fire Department Employees’ performance of services.
(d) General provisions for all insurance. All insurance shall:
(1) Be endorsed to include the other parties, its elected and appointed directors, officials, officers, employees, volunteers and agents, as additional insureds with respect to this MOU and its performance. The coverage shall contain no special limitations on the scope of its protection to the abovedesignated insureds. (2) Be primary with respect to any insurance or self-insurance programs of other Parties, their elected and appointed
officials, employees, and agents.
(3) Be evidenced, prior to commencement of services, by properly executed policy endorsements in addition to a
certificate of insurance.
(4) No changes in insurance may be made without the written approval of all parties’ general counsel’s offices. No changes in insurance may be made without the written approval of all parties’ general counsel’s offices.
7. Mediation. Should any dispute arise out of this MOU, any party may request that it be submitted to mediation. The involved Parties shall meet in mediation within thirty (30) days of a request. The mediator shall be agreed to by the involved Parties; in the absence of an agreement, the Parties shall each submit one name from mediators listed by the American Arbitration Association, the California State Board of Mediation and Conciliation, or other agreed-upon service. The mediator shall be selected by a “blindfolded” process. The cost of mediation shall be borne equally by all involved Parties. No party shall be deemed the prevailing party. No party shall be permitted to file a legal action without first meeting in mediation and making a good faith attempt to reach a mediated settlement. The mediation process, once commenced by a meeting with the mediator, shall not last more than sixty (60) days, unless the sixty (60) day period is extended in #16..
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6 writing by the Parties.
8. Costs and Attorney Fees. Attorney fees shall be recoverable as costs (by the filing of a cost bill) by the prevailing party in any action or actions t o enforce the provisions of this MOU.
9. Severability. If any term or portion of this MOU is held to be invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions of this MOU shall continue in full force and effect.
10. No Third- P a r t y Beneficiary. This MOU is only for the benefit of the Parties as corporate entities and shall not be construed as or deemed to operate as an agreement for the benefit of any third party or parties, and no third party or parties shall have any right of action or obtain any right to benefits or position of any kind for any reason whatsoever.
11. Notices. All notices, demands, requests, and other communications required or permitted under this MOU between the Parties shall be in writing and:
a) Sent by United States Certified Mail, return receipt requested, in which case notice shall be deemed delivered three (3) business days after deposit, postage prepaid in the United States mail, or b) Sent by a nationally recognized overnight courier, in which case notice shall be deemed delivered one (1) business day after deposit with that courier, or
c) Sent by telecopy or similar means if a copy of the notice is also sent by United States Certified Mail; in which case notice shall be deemed delivered on transmittal by telecopier or other similar means, provided that a transmission report is generated that reflects the accurate transmission of the notice(s) as follows:
12. Waiver. No failure on the part of any party to exercise any right or remedy hereunder shall operate as a waiver of any other right or remedy that any party may have hereunder, nor does waiver of a breach or default under this MOU constitute a continuing waiver of a subsequent breach of the same or any other provision of this MOU.
13. Amendment. No modification, waiver, mutual termination, or amendment of this MOU is effective unless made in writing and signed by all Parties. #16..
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7 14. Governing Law. This MOU, regardless of where executed, shall be governed by and construed according to the laws of the State of California.
20. Venue. Venue for any action regarding this MOU shall be in the Superior Court of the County of Stanislaus.
21. Authority to Enter into MOU. Each party warrants that the individuals who have signed this MOU have the legal power, right, and authority to make this MOU and to bind each respective party.
22. Entire MOU. This MOU consists of eight (8) pages and constitutes the complete and exclusive Statement of the MOU among the Parties. No terms, conditions, understandings or agreements purporting to modify or vary this MOU, unless hereafter are made in writing and signed by each party to be bound, shall be binding on any of the Parties.
23. Counterparts. This MOU may be executed in duplicate originals, each which shall be deemed an original, but all of which together shall constitute one and the same instrument.IN WITNESS WHEREOF, this Parties have executed this Agreement with the intent to be bound thereby as of the Agreement Effective Date. ______________________ ______________________
Jody Hayes Joseph P. Lopez
Chief Executive Officer City Manager
Stanislaus County City of Modesto
______________________ _______________________
Tom Boze Jose M. Sanchez
County Counsel City Attorney
Stanislaus County City of Modesto
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CITY OF MODESTO
COUNCIL AGENDA REPORT
DATE OF MEETING:
December 12, 2023
Date: November 14, 2023
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Scott Conn, Chief Information Officer
SUBJECT: Zoom Room Expansions and Upgrades
CONTACT: Kevin Harless, Information Technology Manager
[email protected], 209-571-5593
DESCRIPTION:
Consider approving an Agreement with Zoom Video Communications, Inc., for Professional Deployment Services in the amount of $53,297 and the Purchase of Zoom Room equipment from Think Fast Track for $188,307 for a total amount not to exceed $241,604. (Funding Source: Public Educational and Government (PEG) Fund and Fire Department General Fund) STRATEGIC PLAN ELEMENT:
The recommended action supports the City’s 2020-2025 Strategic Plan Initiatives: Build community trust in city government through responsive, transparent, and efficient service delivery.
BACKGROUND:
The City of Modesto successfully implemented a pilot program for Zoom Rooms in February 2023, with a cost of $48,957.26 under the authority of the City Manager. The pilot room has been utilized for hybrid Committee meetings where members of the public can attend in-person or remotely via Zoom. This room has also been utilized by staff for internal hybrid meetings and has resulted in improved collaboration across departments and with City residents. The Zoom Room is sometimes difficult to reserve as it has experienced a growth in demand due to its functionality and positive user experience. Experienced users are seeing additional value-added potential for the Zoom Room concept and are seeking implementation of more rooms, an expansion of the current pilot room’s capabilities, and an alternate back-up room for Committee meetings ensuring ongoing public engagement should issues occur within the existing Zoom Room.
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City Council, December 12, 2023
Zoom Room Expansions and Upgrades
DISCUSSION:
With the success of the pilot Zoom Room came subsequent solution ideas designed to address current and identified future needs. The Fire Department had been searching for a cost-effective way to technologically unite its Headquarters, 3 Battalion stations, and Training station to better coordinate firefighting strategy, collaboration, and training/certification processes. It sees the addition of Zoom Rooms at each location as a productive solution that can be leveraged for years to come.
The existing pilot Zoom Room’s success can be enhanced through the addition of more viewing screens on all walls resulting in 2 screens per wall. This upgrade will allow the room to be configured to fit any possible event (Committee meeting, classroom training, multiple roundtable configuration, U-shaped venue, Head Table, and audience chairs) and allow for maximum participant visibility of content being shared or presented. This will create an elevated Zoom Room user experience for all in attendance.
With the demand for our pilot Zoom Room being high, it is prudent to add a second room for use to spread the demand between the two rooms and for use as a critical Committee backup room should the pilot room experience any technical issues. The existing IT Training facility will be upgraded to become a Zoom Room to satisfy this need.
Modesto Municipal Code Section 8-3.203 generally requires all purchases which meet or exceed $100,000 for material, equipment, or contractual services to follow formal bid procedures. However, MMC 8-3.204(b) provides that a purchase may be exempted from the City’s formal bidding requirement where the Purchasing Agency’s requirements can be met solely by a single article or process. Here, the deployment and implementation of Zoom Rooms is only available from Zoom’s professional services business unit. And while the equipment utilized within Zoom Rooms can be purchased from various vendors (each carrying some, but not all necessary pieces), only Think Fast Track offers one-stop shopping for all essential equipment making Zoom Video Communications, Inc., and Think Fast Track unique within the marketplace. Therefore, staff recommends the professional deployment services Statement of Work with Zoom Video Communications, Inc. and Zoom Room equipment purchase from Think Fast Track should be exempt from the formal bidding procedures in accordance with Modesto Municipal Code 8-3.204(b).
FISCAL IMPACT:
The enhancement of the existing pilot Zoom Room, and the addition of the backup Zoom Room within the IT Training Facility will be funded through the City’s PEG Fund (allocated for public education and communication). The Fire Department Zoom Rooms will be funded through the Fire Department’s General Fund operating budget (Fund 0100). The purchase amount for equipment from Think Fast Track has estimated taxes of $14,113, estimated shipping costs of $2,550 plus an 8% equipment contingency of $12,714 added to address any unforeseen supply chain issues or required additional equipment needs that are often discovered when connecting hardware together. Contingency items, when required, historically run between 5 -10% for hardware configurations of this type.
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City Council, December 12, 2023
Zoom Room Expansions and Upgrades
Zoom Video
Communications
Professional
Services
Think Fast Track
Equipment
PEG Fund $ 22,400 $ 60,787
Fire Department $ 30,897 $ 98,143
Est. Taxes $ 14,113
Est. Shipping $ 2,550
8% Contingency $ 12,714 Not To Exceed
Total = $ 53,297 $ 188,307 $ 241,604
COMMITTEE RECOMMENDATION:
This project was presented to the Finance Committee on November 13, 2023, and was recommended to forward to Council for approval.
RECOMMENDED COUNCIL ACTION:
Staff Recommendations:
Resolution approving the Sole Source Agreement with Zoom Video Communications, Inc., for Professional Deployment Services in the amount of $53,297 and authorizing the City Manager, or his designee, to execute the Agreement.
Resolution approving a Purchase Agreement for the Sole Source purchase of Zoom Room equipment from Think Fast Track in the amount of $175,593 plus an 8% contingency of $12,714 for a total amount not to exceed $188,307 and authorizing the Director of Finance, or her designee to issue the Purchase Order.
Approved by:
Scott Conn, Chief Information Officer
Joseph P. Lopez, City Manager
Attachments:
1. Resolution – Reso_Zoom_120523_v1.1
2. Resolution – Reso_Zoom_P2_Equip_120623_v1.2
3. Agreement – Zoom Video Communications Statement of Work
4. Document – Sole Source Justification Bid Waiver Zoom Professional
5. Document – Sole Source Justification Bid Waiver Think Fast Track
6. Zoom Equipment Fire Station 17 - Training - Rev.08.22.23
7. Zoom Equipment Fire Battalion Station - Rev.08.22.23
8. Zoom Equipment Fire Admin Building - Rev.08.22.23
9. Zoom Equipment 2nd Floor Training Room - Refresh - Rev.08.22.23
10. Zoom Equipment IT Training Room - 5th Floor - Rev.08.22.23 #17..
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MODESTO CITY COUNCIL
RESOLUTION NO. 2023-
RESOLUTION APPROVING THE SOLE SOURCE AGREEMENT WITH ZOOM VIDEO COMMUNICATIONS, INC., FOR PROFESSIONAL DEPLOYMENT SERVICES IN THE AMOUNT OF $53,297 AND AUTHORIZING THE CITY
MANAGER, OR HIS DESIGNEE, TO EXECUTE THE AGREEMENT
WHEREAS, in February 2023 the City of Modesto successfully implemented a pilot program for Zoom Rooms with a cost of $48,957.26 under the authority of the City Manager, and
WHEREAS, the pilot room has been utilized for hybrid Committee meetings where members of the public could attend in-person or remotely via Zoom, and WHEREAS, this room has also been utilized by staff for internal hybrid meetings, and
WHEREAS, the Zoom Room is sometimes difficult to reserve as it has experienced a growth in demand due to its functionality and positive user experience, and WHEREAS, users are seeking implementation of more rooms, an expansion of the current pilot room’s capabilities, and an alternate back-up room for Committee meetings ensuring ongoing public engagement should issues occur within the existing Zoom Room, and
WHEREAS, the Fire Department had been searching for a cost-effective way to technologically unite its Headquarters, 3 Battalion stations, and Training station to better coordinate firefighting strategy, collaboration, and training/certification processes, and WHEREAS Modesto Municipal Code Section 8-3.203 generally requires all purchases which meet or exceed $100,000 for material, equipment, or contractual services to follow formal bid procedures, and
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WHEREAS staff recommends approving the Sole Source Agreement with Zoom Video Communications, Inc., for Professional Deployment Services and that this purchase should be exempt from the formal bidding process in accordance with Modesto Municipal Code 8-3.204(b) since they are the current and sole provider and integrator of this service, and
WHEREAS Modesto Municipal Code Section 8-3.204(b) provides that a purchase may be exempted from the City’s formal bidding requirement where the Purchasing Agency’s requirements can be met solely by a single article or process, and WHEREAS, this purchase of these services conforms to the Modesto Municipal Code, and
WHEREAS, under this agreement, the one-time implementation services from Zoom Video Communications, Inc. will be $53,297.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the Sole Source Agreement with Zoom Video Communications, Inc., for Professional Deployment Services in the amount of $53,297.
BE IT FURTHER RESOLVED that the City Manager or his designee are hereby authorized to execute the agreement.
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 12th day of December 2023, by Councilmember ?, who moved its adoption, which motion being duly seconded by Councilmember ?, was upon roll call carried and the resolution adopted by the following vote:
AYES: Councilmembers: ?
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NOES: Councilmembers: ?
ABSENT: Councilmembers: ?
ATTEST: ____________________________
DIANE NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:
BY: ____________________________________
JOSE M. SANCHEZ, City Attorney
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MODESTO CITY COUNCIL
RESOLUTION NO. 2023-
RESOLUTION APPROVING A PURCHASE ORDER FOR THE SOLE SOURCE
PURCHASE OF ZOOM ROOM EQUIPMENT FROM THINK FAST TRACK IN THE AMOUNT OF $175,593 PLUS AN 8% CONTINGENCY OF $12,714 FOR A TOTAL AMOUNT NOT TO EXCEED $188,307 AND AUTHORIZING THE
DIRECTOR OF FINANCE, OR HER DESIGNEE TO ISSUE THE PURCHASE ORDER
WHEREAS, in February 2023 the City of Modesto successfully implemented a pilot program for Zoom Rooms with a cost of $48,957.26 under the authority of the City Manager, and
WHEREAS, the pilot room has been utilized for hybrid Committee meetings where members of the public could attend in-person or remotely via Zoom, and WHEREAS, this room has also been utilized by staff for internal hybrid meetings, and
WHEREAS, the Zoom Room is sometimes difficult to reserve as it has experienced a growth in demand due to its functionality and positive user experience, and WHEREAS, users are seeking implementation of more rooms, an expansion of the current pilot room’s capabilities, and an alternate back-up room for Committee meetings ensuring ongoing public engagement should issues occur within the existing Zoom Room, and
WHEREAS, the Fire Department had been searching for a cost-effective way to technologically unite its Headquarters, 3 Battalion stations, and Training station to better coordinate firefighting strategy, collaboration, and training/certification processes, and #17..
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WHEREAS Modesto Municipal Code Section 8-3.203 generally requires all purchases which meet or exceed $100,000 for material, equipment, or contractual services to follow formal bid procedures, and
WHEREAS, staff recommends approving the Sole Source purchase of Zoom Room equipment from Think Fast Track and that they should be exempt from the formal bidding process in accordance with Modesto Municipal Code 8-3.204(b) since they are the only vendor from which all required equipment can be obtained from a single source, and
WHEREAS Modesto Municipal Code Section 8-3.204(b) provides that a purchase may be exempted from the City’s formal bidding requirement where the Purchasing Agency’s requirements can be met solely by a single article or process, and WHEREAS, the one-time equipment purchasing costs from Think Fast Track will be $175,593, and
WHEREAS, an 8% contingency of $12,714 will be added to the project to account for any unforeseen, but necessary costs.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the Sole Source purchase of Zoom Room equipment from Think Fast Track in the amount of $175,593 plus an 8% contingency of $12,714 for a total amount not to exceed $188,307.
BE IT FURTHER RESOLVED that the Director of Finance, or her designee is authorized to issue the Purchase Order.
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 12th day of December 2023, by Councilmember ?, who #17..
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moved its adoption, which motion being duly seconded by Councilmember ?, was upon roll call carried and the resolution adopted by the following vote:
AYES: Councilmembers: ?
NOES: Councilmembers: ?
ABSENT: Councilmembers: ?
ATTEST: ____________________________
DIANE NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:
BY: ____________________________________
JOSE M. SANCHEZ, City Attorney
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Zoom Rooms Professional Services Organization
Statement of Work for Full Deployment Services
This Statement of Work for Professional Services (“SOW”) is effective on 10/20/2023 (“Effective Date”) between Zoom Video Communications, Inc. (“Zoom”) and City of Modesto (“Customer”) and is governed by the Zoom Terms of Service found at http://www.zoom.us/terms (unless Customer and Zoom have entered into a written governing Master Subscription Agreement, in which case such written agreement will govern). Customer’s purchase of Professional Services pursuant to this SOW is also governed by the Zoom Professional Services Terms and Conditions available at:
https://zoom.us/professional-services-terms. Any capitalized terms used but not defined herein shall have the meaning ascribed to them in the Zoom Terms of Service (or Master Subscription Agreement, as applicable) or Zoom Professional Services Terms and Conditions.
Agreement
This SOW is entered into as of 10/20/2023 between City of Modesto and Zoom Video Communications, Inc.
Zoom Video Communications, Inc.
Signature:_______________________________________________ Date:__________________________ City of Modesto
Signature:_______________________________________________ Date:__________________________ Bill To: Sold To:
City of Modesto
1010 10th Street, Suite 6100
Modesto, CA 95354
City of Modesto
1010 10th Street, Suite 6100
Modesto, CA 95354
Scott Conn
(209) 577-5229
[email protected]
Scott Conn
(209) 577-5229
[email protected]
Date: 10/20/2023
(quote is valid for 30 days from this date)
Order/ Quote Number: PSO-028179-City of Modesto - Combined Projects-F Total SOW Amount: $53,297
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Zoom Rooms Professional Services Organization
Current Project
Plan
Use Case
Analyze
Strategize
Design
Innovate
Standards
Document
Deploy
[Appendix]
Project Manage
Coordinate
Install & Configure
Manage
]
Monitoring
Helpdesk
Onsite
Recitals: Project Overview
Customer has provided Zoom with an initial project needs assessment concerning design scope, and Customer now wants to purchase and obtain Zoom Rooms Professional Services. This SOW contains room design descriptions which have been included in a separately executed SOW, resulting in an executable design package for Customer’s future Zoom Rooms environment. This SOW includes the costs shown to reflect deployment services [Appendix].
ARTICLE 1
Project Management
1.1 Assignment of TPM. Upon receipt of a signed Full Deployment Services SOW, a Zoom-designated Technical Project Manager (“TPM”) will be assigned to the Customer's project. The TPM will work with the Customer for the duration of the deployment.
1.2 Roles and responsibilities of Zoom TPM:
1.2.1 Serving as a Single Point of Contact for the delivery of all Professional Services under this SOW, following Zoom’s proven deployment best practices.
1.2.2 Leading and managing project initiation sessions, and if required to complete this scope of services, then also managing the following additional team member(s) in any combination thereof at TPM’s discretion:
(i) Zoom installation team(s).
(ii) Customer stakeholders & IT staff.
(iii) Network/data specialists.
(iv) Electricians.
(v) General contractors.
(vi) Furniture manufacturers.
(vii) Third-party installers.
1.2.3 The development, review, authoring, deployment, and managing of any mutually agreed upon written Change Orders and interventions to achieve project outputs.
1.2.4 Facilitating and leading regular status update meetings, organizing planning sessions and Customer steering committees, as applicable.
1.2.5 Performing closure procedures at the conclusion of project activities via Customer consensus.
1.2.6 Driving the creation and management of project governance, including but not limited to:
(i) Project plan and schedule.
Master Doc: Rev 2.0 © Zoom Video Communications, Inc. 2020 Page 2 of 8 #17..
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Zoom Rooms Professional Services Organization
(ii) Logistics oversight & assistance.
(iii) Communication plan.
(iv) Resource requirements.
(v) Escalation process.
(vi) Change control.
(vii) Test plan.
(viii) Action and Risk register.
1.2.7 Completion of resource assignments and scheduling in alignment with the master project schedule.
1.2.8 Management of project documentation.
1.2.9 Management of project timelines in alignment and via consensus with the Customer designated internal TPM or single point of contact.
1.2.10 Identification, communication, and mitigation of project risks and issues, reserving the right to delay deployment as deemed necessary.
1.2.11 Alignment of project goals and scope with Customer expectations for the duration of the project as a whole.
1.2.12 Completing scoped migration and go live support.
ARTICLE 2
Scope of Services
2.1 Scope of Services – Full Deployment Overview.
Zoom will execute the deployment of 7 rooms for City of Modesto, based on the submitted design package.
2.2 Full Deployment Scope Included.
Zoom and/or TPM will perform the following included services:
2.2.1 Pre-deployment communication with Customer and Zoom installation team.
2.2.2 Discuss timeline, procurement options, and desired next steps.
2.2.3 On-site scheduling & coordination.
2.2.4 Zoom TPM will review all Zoom Rooms designs with the Zoom Installation team prior to project start date.
2.3 Site readiness. Zoom and/or TPM will perform the following included services:
2.3.1 Work through and assist with Customer Responsibilities.
2.3.2 Meet with respective teams, general contractors, architects, third party vendors.
2.3.3 Identify deliverables for each team and set expectations.
2.4 Coordinate with Zoom installation team. Zoom and/or TPM will perform the following included services:
2.4.1 Provide consolidated daily/weekly reports as gathered by the Zoom installation team.
2.4.2 Zoom TPM will maintain constant communication with the Zoom installation team to ensure the project is on schedule.
2.5 Install and configure new hardware and software components. Zoom and/or TPM will perform the following included services:
2.5.1 On-site cabling and cable management.
2.5.2 On-site mounting of cameras.
2.5.3 On-site mounting of TVs.
2.5.4 On-site installation and configuration of audio & video components.
2.5.5 Configuration of all Zoom components (Mac/PC, iPad and account configuration).
2.5.6 System test and verification.
2.5.7 Execute Zoom install best practices.
2.5.8 Troubleshoot Zoom technical issues (non-IT).
2.5.9 Provide Zoom Rooms training for key stakeholders.
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2.5.10 Provide a confirmation email to Customer for each room which indicates the completion of the installation for the room.
2.5.11 Provide Customer satisfaction analysis.
ARTICLE 3
Scope of Work Exclusions
3.1 Excluded: Ceiling tile replacement or repair. Customer is responsible for all ceiling tile replacements and repairs.
3.2 Excluded: Decommissioning or relocating existing equipment. Customer is responsible for the removal, discarding of, e-waste or re-use of any pre-existing equipment not listed in this SOW.
3.3 Excluded: Electrical Installation or Validation. Customer is responsible for ensuring access to electrical power at each required location, any high voltage installation, and Customer will engage an electrician if necessary to ensure their infrastructure is up to standards.
3.4 Excluded: Network Installation or Validation. Customer is responsible for ensuring access to electrical power at each required location, building network switch installations or cabling, and Customer is responsible for any centralized network connectivity or cabling.
3.5 Excluded: Conduit. Customer is responsible for conduit or conduit run installations.
3.6 Excluded: Painting. Customer is responsible for painting, patching and drywall repairs.
3.7 Excluded: License and Permits. Customer is responsible for any and all licenses, permits and/or approval.
3.8 Excluded: Furniture. Customer is responsible for furniture modifications (for example, hole/grommet for cable paths)
3.9 Excluded: Waste. Customer is responsible for offsite waste disposal and office waste disposal, and acknowledges that the Zoom team may relocate all waste to disposal areas within the same physical address at the installation.
3.10 Excluded: Digital signage content creation or setup. Customer is responsible for content creation, implementation, setup and maintenance of any digital signage.
3.11 Excluded: Control GUI/programming or advice. Customer is responsible for any additional requirements for control not standard to ZRC (Zoom Rooms Controller) are excluded.
3.12 Excluded: Acoustic Treatment Design. Customer is responsible for acoustically treating any conference room or office space. Upon request, Zoom may make a recommendation to an acoustic specialist for this purpose. Customer acknowledges that a conference room/space should be acoustically treated (prior to any installation) for optimal Zoom Rooms experience.
3.13 Excluded: Lighting Design. Customer is responsible for conference room(s) and/or office(s) lighting. Customer acknowledges that Zoom does not operate to design lighting for conference rooms or offices.
3.14 Excluded: Automation Control Design. Additional automation control for Zoom Rooms is excluded.
3.15 Excluded: Additional Integration. Integration, testing or assisting with any features not included with Zoom Rooms software released on day one of installation.
ARTICLE 4
Customer’s Project Responsibilities
4.1 Customer is responsible for fully managing and executing the items listed in Article 4. Customer delays or failure to deliver any of the following Customer Project Responsibilities within the needed time to fulfill this SOW will result in a delay of service through no fault of Zoom and/or additional service fees.
4.2 Room details. Customer shall provide all necessary information to Zoom concerning design(s) that suit the customer’s desired experience. Customer shall provide a list of desired designs per room based upon the documented standard base reference designs as documented at support.zoom.us.
4.3 Project Scope details. Customer shall cooperate with Zoom TPM to establish the project scope pursuant to this SOW, and Customer shall ensure that their team understands, supports and accepts it.
4.4 Floor plans. Customer shall provide Zoom TPM all the necessary floor plans.
4.5 Room Photos. Customer shall send photos to Zoom TPM, for room verification and planning purposes.
4.6 Video walkthrough as needed. Customer shall provide a video walkthrough of the applicable room(s) with Zoom TPM if requested by Zoom.
4.7 Existing equipment.
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(i) Customer shall provide a detailed list of all equipment currently in the room identifying the manufacturer(s), model(s) and name(s) of such equipment.
(ii) Customer is responsible for any equipment it intends to re-use as part of the design, and is responsible for the results and consequences caused by such re-used equipment. (iii) Customer is responsible for system functionality if any equipment installed is not on the recommended equipment list.
(iv) Customer is responsible for the condition or function of Owner Furnished Equipment (OFE), including new or previously installed by others. Customer acknowledges that Zoom is not responsible for any non-working equipment.
(v) Customer acknowledges that additional service fees may be charged for delays arising from Customer’s re-used equipment.
4.8 As built functional/elevation diagrams for all existing designs. Customer shall provide any pre-existing functionals and elevations to Zoom TPM for review.
4.9 Network Readiness & Reliability. Customer shall ensure firewall is configured correctly: Firewall Configuration, proper Setup Network Firewall and Proxy Server, and shall verify Bandwidth requirements.
4.10 Third-Party Provider Management. Customer is responsible for all third-party goods and services, and any Third-party vendors or service providers required to fulfill any deliverable services outlined in this SOW.
4.11 Impact of Customer Delays. Any delays in Customer’s performance of its responsibilities, services or delivery of deliverables caused by Customer, including without limitation Customer delays in the performance of its responsibilities herein, in completing and returning documentation required during the P&D, or delay in completing and/or providing Zoom the needs assessment, may result in an adjustment, continuation, and/or extension of project timeline(s), and additional fees through no fault of Zoom.
ARTICLE 5
Customer Declarations and Representations
5.1 Customer acknowledges and represents that the actual costs in this SOW may change based on its final design requirements, and that separately executed Change Orders or SOWs are required for these other services.
5.2 Customer acknowledges and represents that Zoom is not a design-build firm, and does not operate to recommend, design, install, or modify any conference room or office furniture.
5.3 Customer acknowledges and represents that Zoom does not operate to design lighting for conference rooms or offices.
5.4 Customer acknowledges and represents that it is fully capable of managing and executing the Customer Project Responsibilities.
5.5 Customer acknowledges and represents that any delays or failure to deliver any of its Customer Project Responsibilities within the needed time to fulfill this SOW will result in a delay of service through no fault of Zoom and/or additional service fees.
5.6 Customer acknowledges and represents that it -- not Zoom -- is responsible for system functionality if any equipment installed is not on the recommended equipment list.
5.7 Customer acknowledges and represents that it -- not Zoom – is responsible for the condition or function of Owner Furnished Equipment (OFE), whether new or previously installed by others.
5.8 Customer acknowledges that Zoom does not supply any equipment or hardware under this SOW. The equipment list provided by Zoom to Customer contains equipment that is to be procured by Customer from a third party equipment vendor, and Zoom will have no liability whatsoever for such procurement, including any warranty claims that Customer may have against the equipment vendor.
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SPECIAL TERMS & NOTES
NOTES
1. Location: 1010 10th Street, Suite 6100
Modesto, CA 95354
2. Designs are specified with equipment from the recommended equipment lists sent with this SOW.
3. The equipment list sent with this SOW does not include shipping or applicable taxes.
4. Upon completion of this SOWk, Zoom will send email notification to Customer notifying Customer of completion.
5. In the event of major design changes, Zoom will provide the Customer with a new SOW or Change Order for additional work needed.
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Appendix
Room Descriptions & Deployment Schedule & Pricing
1. Room Design Descriptions:
Room descriptions per design as intended to be built within the Zoom Rooms environment, along with designated room names/numbers (if applicable):
● 2nd Floor Training Room - Refresh
Install (4) new displays in an already deployed PSO Training Room. Room will have 2 displays on each wall. Swap out existing PC for ID build. Install new Distribution amps to repeat main images to all repeat displays. Install (1) Companion Whiteboard.
● IT Training Room - 5th Floor
Large Zoom Rooms space with 1x 75 primary display(s), 1x 75 confidence monitor(s) and 2 Cameras, 1x Logitech Rally and 1x Aver Tracking Camera. Audio is provided by Ceiling speakers and room microphones with wireless microphones for presenters. Features include a wireless Zoom Room Controller and a Neat Pad scheduling display. Install 1x 75” Companion Whiteboard on the front wall. All gear will be housed in a 12U Furniture based equipment rack. ● Station 17 - Training
Large Zoom Rooms space with 1x 75 primary display(s), 1x 75 confidence monitor(s) and 2 Huddly + Tracking Cam camera(s). Audio is provided by Ceiling speakers and room microphones with wireless microphones for presenters. Features include an Neat Pad scheduling display. ● Admin Building
Zoom Room with 1x 75 main display, 2x repeat displays on flanking walls with 3x Rally Cam cameras across the front wall, 1x Logitech Scribe and 1x Aver Tracking Camera Audio is provided by 3x MXA310 microphones and Soundbar speaker(s). Features include a wireless Zoom Room Controller and a Neat Pad scheduling display. Install 1x Companion Whiteboard. ● Battalion Systems
Cart based All-in-one interactive Zoom Room appliance with PoE controller.
2. Deployment Service Schedule
Potential project schedule, with additional project details:
Requested Start Date:
Expected Completion Date:
On-Site Days:
-
-
-
TBD
TBD
TBD
Billing Method:
Payment Method:
Payment Terms:
Currency:
-
-
-
-
Auto Invoice
Other
Net 30
USD
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3. Deployment Price Schedule
Deployment Services: Cost for Full Deployment service options & estimated equipment cost:
Room Design Name Qty On-Site Deployment
Price
Total
IT Training Room - 5th Floor 1 $18,750 $18,750
2nd Floor Training Room - Refresh 1 $3,000 $3,000
Battalion Systems 3 $3,000 $9,000
Admin Building 1 $11,000 $11,000
Station 17 - Training 1 $10,000 $10,000
Subtotal $51,750
CC&H $1,547
TOTAL $53,297
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Bid Wavier - Zoom Professional - IT
Final Audit Report 2023-12-05
Created: 2023-12-05
By: Juana Lynch ([email protected])
Status: Signed
Transaction ID: CBJCHBCAABAARUDC5u0VLD8BAQmZsIKzQ4QCwbFPqeu6 "Bid Wavier - Zoom Professional - IT" History
Document created by Juana Lynch ([email protected]) 2023-12-05 - 2:52:44 AM GMT
Document emailed to [email protected] for signature
2023-12-05 - 3:00:20 AM GMT
Email viewed by [email protected]
2023-12-05 - 2:43:51 PM GMT
Signer [email protected] entered name at signing as Dianne Love 2023-12-05 - 2:44:32 PM GMT
Document e-signed by Dianne Love ([email protected]) Signature Date: 2023-12-05 - 2:44:34 PM GMT - Time Source: server Document emailed to DeAnna Christensen ([email protected]) for signature 2023-12-05 - 2:44:36 PM GMT
Email viewed by DeAnna Christensen ([email protected]) 2023-12-05 - 3:23:57 PM GMT
Document e-signed by DeAnna Christensen ([email protected]) Signature Date: 2023-12-05 - 3:24:22 PM GMT - Time Source: server Agreement completed. 2023-12-05 - 3:24:22 PM GMT
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Bid Wavier - Think Fast - IT
Final Audit Report 2023-12-05
Created: 2023-12-05
By: Juana Lynch ([email protected])
Status: Signed
Transaction ID: CBJCHBCAABAAqaXyZTcOkLisS9KjyoZFFqU51X1I8IGg "Bid Wavier - Think Fast - IT" History
Document created by Juana Lynch ([email protected]) 2023-12-05 - 3:06:16 AM GMT
Document emailed to [email protected] for signature
2023-12-05 - 3:07:39 AM GMT
Email viewed by [email protected]
2023-12-05 - 2:48:13 PM GMT
Signer [email protected] entered name at signing as Dianne Love 2023-12-05 - 2:48:43 PM GMT
Document e-signed by Dianne Love ([email protected]) Signature Date: 2023-12-05 - 2:48:45 PM GMT - Time Source: server Document emailed to DeAnna Christensen ([email protected]) for signature 2023-12-05 - 2:48:46 PM GMT
Email viewed by DeAnna Christensen ([email protected]) 2023-12-05 - 3:24:38 PM GMT
Document e-signed by DeAnna Christensen ([email protected]) Signature Date: 2023-12-05 - 3:25:15 PM GMT - Time Source: server Agreement completed. 2023-12-05 - 3:25:15 PM GMT
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Zoom PSO Recommended Hardware
City of Modesto - Station 17 - Training
Room Name: Station 17 - Training
Company Name: City of Modesto
Room Quantity: 1
Date: 8/22/2023
Zoom PM: Matt Henderson
Room Names:
AMENDMENT VENDOR PART # NAME COST QTY TOTAL NEW Comments Primary Displays .
PSO LG 75UR640S9UD LG UR640S Display 75" TV $1,918 1 $1,918 PSO Chief XTM1U X-Large Fusion Micro-Adjustable Tilt Wall Mount $364 1 $364 PSO Chief FCAV1U Fusion Pull Out Accessory $361 1 $361
Total: $2,643
Confidence Monitors .
PSO LG 75UR640S9UD LG UR640S Display 75" TV $1,918 1 $1,918 PSO Chief XTM1U X-Large Fusion Micro-Adjustable Tilt Wall Mount $364 1 $364 Total: $2,282
Camera .
PSO Aver PATR313V2 Aver TR313v2 Autotracking 12x Zoom USB PTZ Camera $2,500 1 $2,500 PSO Logitech 960001226 Logitech Rally 4k USB 3.0 Camera $1,300 1 $1,300 PSO BlackBox IC400AR2 Blackbox USB 2.0 Extender $500 1 $500 Total: $4,300
Video DA/Transmission .
PSO Kramer TP580T Kramer 580T Transmitter $268 1 $268
PSO Kramer TP580R Kramer 580R Receiver $268 1 $268
PSO Kramer VM2Hxl Kramer 1x2 HDMI Distribution Amplifier $296 1 $296 PSO C2G 56782 HDMI Cable - 3ft $11 2 $22
2 1 Total: $854
Audio Components .
PSO Shure P300IMX Shure P300 Intellimix DSP $1,850 1 $1,850 PSO C2G CG28102 USB-B to USB-A 2.0 Cable - 6.6ft $7 1 $7 PSO QSC SPA260 QSC Amplifier $705 1 $705
PSO EV EVIDC4.2LP EV Ceiling Speaker 4in Low Profile $175 6 $1,050 PSO Shure MXA920WS Shure MXA920W-S - White (US Only) $4,732 1 $4,732 PSO DLink DGS121010MP 8-Port Switch - 130W PoE Budget $440 1 $440 Total: $8,784
Computer & Accessories .
PSO Lenovo|HP|Int
el
11U10046US32GB Micro Tower Windows PC + VESA Wall mount (Min Spec. i7 (12th Gen), UHD 770, 16GB (2x8GB), 256 SSD, 3xHDMI|DP, 4xUSB-A, 1xUSB-C)
$1,500 1 $1,500 ID Spec
PSO C2G 54326 Displayport to HDMI Cable - 6ft $34 1 $34 PSO Logitech 920007119 Logitech Wireless Keyboard w/ touchpad $39 1 $39 PSO Middle Atlantic
UTR1 Middle Atlantic Stationary Rack Shelf $53 1 $53
Total: $1,626
Controller & Accessories .
PSO Apple MK2K3LL/ASGDEP iPad 10.2" Wifi Only 32GB - Space Gray $389 1 $389 PSO iPort 71015 LuxePort Case iPad 10.2” | 7th-9th Gen (Black) $299 1 $299 PSO iPort 71000 LuxePort BaseStation (Black) $400 1 $400 Total: $1,088
Room Scheduler .
PSO Neat NeatPadse Neat Pad Controller/Scheduler $820 2 $1,640 Total: $1,640
Whiteboard Companion .
PSO DTEN DB0475A1C01 DTEN D7 75" All in One Board $8,659 1 $8,659 PSO C2G 27152 Cat6 Unshielded Patch Cable - 7ft $13 1 $13 Total: $8,672
Cables & Supplies .
PSO Arlington ARLINGTONBUNDLE LV1 Wall brush plate & bracket $11 2 $22 PSO C2G 27151 Cat6 Unshielded Patch Cable - 3ft $10 1 $10 PSO C2G 27153 Cat6 Unshielded Patch Cable - 10ft $16 2 $32 PSO C2G 24240 IEC Cable - 1ft $5 2 $10
Total: $74
Bulk Supplies .
PSO Belden 1213F25010 Cat5e+ Plenum Unshielded Cable - 250ft (Black) $240 1 $240 PSO Platinum
Tools
202022J10 EZ-RJ45 CAT5e shielded modular plugs 10pk $35 1 $35 PSO Belden 6200UE25010 Speaker unshielded twisted pair plenum cable - 250ft $80 1 $80 PSO Belden 9451P1010 Audio shielded twisted pair plenum cable - 10ft $5 1 $5 PSO TFT ZOOMROPEKIT Hardware Kit for Ceiling Security $32 2 $64 Total: $424
.
Training Room
Estimated Total: $32,387
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Zoom PSO Recommended Hardware
City of Modesto - Battalion Systems
Room Name: Battalion Systems
Company Name: City of Modesto
Room Quantity: 3
Date: 8/22/2023
Zoom PM: Matt Henderson
Room Names:
AMENDMENT VENDOR PART # NAME COST QTY TOTAL NEW Comments Display and Computer .
PSO DTEN DB71475E DTEN D7X 75in All in One Board ՄWindows) $8,500 1 $8,500 PSO Heckler H592BG Heckler AV Cart XL Designed for 75-inch to 98-inch Displays $1,500 1 $1,500 PSO Heckler Design H497BG VESA Adapter Kit $79 1 $79
PSO Tech Flex F6N1.50BK25 Techflex Cable Sleeve ՞ 25ft $138 1 $138 PSO C2G 27155 Cat6 Unshielded Patch Cable ՞ 25ft $25 1 $25 Total: $10,242
Scheduler .
PSO DTEN DTEN Mate DTEN Mate Zoom Room controller $749 1 $749 Total: $749
.
D7 75 Estimated Total: $10,991
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Zoom PSO Recommended Hardware
City of Modesto - Admin Building
Room Name: Admin Building
Company Name: City of Modesto
Room Quantity: 1
Date: 8/22/2023
Zoom PM: Matt Henderson
Room Names:
AMENDMENT VENDOR PART # NAME COST QTY TOTAL NEW Comments Display Components .
OFE LG 75UR640S9UD LG UR640S Display 75" TV $1,918 1
PSO Chief XTM1U X-Large Fusion Micro-Adjustable Tilt Wall Mount $364 1 $364 2 OFE for repeats PSO LG 65UR640S9UD LG UR640S Display 65" TV $1,124 2 $2,248 PSO Kramer VM4HDT Kramer VM-4HDT 1:4 HDMI to HDBaseT $1,000 1 $1,000 PSO Kramer TP580R Kramer 580R Receiver $268 2 $536
PSO Chief FCAV1U Fusion Pull Out Accessory $361 1 $361 Main PSO SurgeX SXDS156 SurgeX Multipak 6-Outlet Surge Protector $547 1 $547 PSO C2G 54325 Displayport to HDMI Cable - 3ft $32 2 $64 Total: $5,120
Camera .
PSO Logitech 960001226 Logitech Rally 4k USB 3.0 Camera $1,300 3 $3,900 Front wall PSO Logitech 960-001332 Logitech Scribe $1,199 1 $1,199 PSO Aver PATR313V2 Aver TR313v2 Autotracking 12x Zoom USB PTZ Camera $2,500 1 $2,500 back Wall Total: $7,599
Audio Components .
PSO Shure MXA310B Shure MXA310 - Black $1,000 3 $3,000
PSO DLink DGS121010MP 8-Port Switch - 130W PoE Budget $440 1 $440 PSO Shure P300IMX Shure P300 Intellimix DSP $1,850 1 $1,850 PSO C2G CG28102 USB-B to USB-A 2.0 Cable - 6.6ft $7 1 $7 PSO RDL TXA2 RDL TX-A2 Mic to Line Converter $86 1 $86
PSO JBL PSB1 JBL Commercial Grade Soundbar $200 1 $200
Total: $5,583
Computer .
PSO Lenovo|HP|Int
el
11U10046US32GB Micro Tower Windows PC + VESA Wall mount (Min Spec. i7 (12th Gen), UHD 770, 16GB (2x8GB), 256 SSD, 3xHDMI|DP, 4xUSB-A, 1xUSB-C)
$1,500 1 $1,500 ID Build
PSO C2G 54327 Displayport to HDMI Cable - 10ft $35 1 $35 PSO Logitech 920007119 Logitech Wireless Keyboard w/ touchpad $39 1 $39 Total: $1,574
Controller & Accessories .
PSO Apple MK2K3LL/ASGDEP iPad 10.2" Wifi Only 32GB - Space Gray $389 1 $389 PSO iPort 71000 LuxePort BaseStation (Black) $400 1 $400 PSO iPort 71015 LuxePort Case iPad 10.2” | 7th-9th Gen (Black) $299 1 $299 Total: $1,088
Room Scheduler .
PSO Neat NeatPadse Neat Pad Controller/Scheduler $820 2 $1,640 1 Redundant ZRC Total: $1,640
Whiteboard Companion .
PSO DTEN DB0475A1C01 DTEN D7 75" All in One Board $8,659 1 $8,659 PSO C2G 27152 Cat6 Unshielded Patch Cable - 7ft $13 1 $13 Total: $8,672
Cables & Supplies .
PSO Anker USB3HUB7C Anker 7-Port USB 3.0 Hub $45 1 $45
PSO BlackBox IC400AR2 Blackbox USB 2.0 Extender $500 2 $1,000 PSO Safcord 4007012 SafCord Velcro Floor Runner - 6ft $36 1 $36 PSO Arlington ARLINGTONBUNDLE LV1 Wall brush plate & bracket $11 2 $22 PSO C2G 27154 Cat6 Unshielded Patch Cable - 14ft $18 3 $54 PSO C2G 27152 Cat6 Unshielded Patch Cable - 7ft $13 2 $26 PSO Belden 6200UE10010 Speaker unshielded twisted pair plenum cable - 100ft (Black) $36 1 $36 DC power ext PSO Belden 1213F25010 Cat5e+ Plenum Unshielded Cable - 250ft (Black) $240 1 $240 PSO Platinum Tools 202022J10 EZ-RJ45 CAT5e shielded modular plugs 10pk $35 1 $35 PSO Belden 9451P1010 Audio shielded twisted pair plenum cable - 10ft $5 1 $5 PSO C2G 39943 3.5mm to Stereo RCA - 12ft $8 1 $8
Total: $1,507
.
Pro 9-19 Estimated Total: $32,783
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Zoom PSO Recommended Hardware
City of Modesto - 2nd Floor Training Room - Refresh
Room Name: 2nd Floor Training Room - Refresh
Company Name: City of Modesto
Room Quantity: 1
Date: 8/22/2023
Zoom PM: Matt Henderson
Room Names:
AMENDMENT VENDOR PART # NAME COST QTY TOTAL NEW Comments Primary Displays .
OFE OFE OFE Display OFE Display $ 2
OFE Chief XTM1U X-Large Fusion Micro-Adjustable Tilt Wall Mount $364 2 OFE Chief FCAV1U Fusion Pull Out Accessory $361 2
Total: $0
Repeat Monitors .
PSO Samsung UN75TU7000FXZA 75" 4K LED Display $800 4 $3,200 Big Box PSO Chief LTM1U Large Fusion Micro-Adjustable Tilt Wall Mount $308 4 $1,232 Total: $4,432
Confidence Monitors .
PSO OFE OFE Display OFE Display $ 2
OFE Chief XTM1U X-Large Fusion Micro-Adjustable Tilt Wall Mount $364 2 Total: $0
Camera .
OFE Aver PATR313V2 Aver TR313v2 Autotracking 12x Zoom USB PTZ Camera $2,500 1 OFE C2G 28873 USB-C to USB-A 2.0 Cable - 12ft $24 1
OFE Huddly HUDIQ2MB Huddly IQ™ Collaboration Camera $950 1 OFE BlackBox IC400AR2 Blackbox USB 2.0 Extender $500 1
Total: $0
Video DA/Transmission .
OFE Kramer TP580T Kramer 580T Transmitter $268 4
OFE Kramer TP580R Kramer 580R Receiver $268 4
PSO Kramer TP580R Kramer 580R Receiver $268 4 $1,072 New PSO Kramer VM4H2 Kramer 1x4 HDMI Distribution Amplifier $500 1 $500 New PSO Kramer VM4HDT Kramer VM-4HDT 1:4 HDMI to HDBaseT $1,000 1 $1,000 New PSO C2G 56782 HDMI Cable - 3ft $11 5 $55
4 4 Total: $2,627
Audio Components .
OFE Shure P300IMX Shure P300 Intellimix DSP $1,850 1
OFE C2G CG28102 USB-B to USB-A 2.0 Cable - 6.6ft $7 1
OFE QSC SPA260 QSC Amplifier $705 1
OFE EV EVIDC4.2LP EV Ceiling Speaker 4in Low Profile $175 8 OFE Sennheiser TCCEILING2W/EXTBR
CKS
Sennheiser TeamConnect Ceiling 2 w/ Ext Brackets $4,500 2 OFE DLink DGS121010MP 8-Port Switch - 130W PoE Budget $440 1 Total: $0
Computer & Accessories .
PSO Lenovo|HP|Int el
11U10046US32GB Micro Tower Windows PC + VESA Wall mount (Min Spec. i7 (12th Gen), UHD 770, 16GB (2x8GB), 256 SSD, 3xHDMI|DP, 4xUSB-A, 1xUSB-C)
$1,500 1 $1,500 Need ID Build - OFE going to 5th
OFE C2G 54326 Displayport to HDMI Cable - 6ft $34 2
OFE Logitech 920007119 Logitech Wireless Keyboard w/ touchpad $39 1 Total: $1,500
Controller & Accessories .
OFE Apple MK2K3LL/ASGDEP iPad 10.2" Wifi Only 32GB - Space Gray $389 1 OFE iPort 71015 LuxePort Case iPad 10.2” | 7th-9th Gen (Black) $299 1 OFE iPort 71003 LuxePort WallStation (Black) $350 1
Total: $0
Room Scheduler .
OFE Neat NeatPadse Neat Pad Controller/Scheduler $820 1 Total: $0
Whiteboard Companion .
PSO DTEN DB50455EA DTEN D7 55" All in One Board $4,329 1 $4,329 cart needed PSO Heckler Design H714BG Heckler AV Cart - Base Configuration $1,379 1 $1,379 PSO Heckler Design H497BG VESA Adapter Kit $79 1 $79
Total: $5,787
Equipment Rack .
PSO Startech RK119WALLV 1U Wall Rack $45 1 $45
PSO Kramer RKT2BB 19–Inch Rack Adapter for MegaTOOLS™ $120 1 $120 Total: $165
Bulk Supplies .
PSO Belden 1213F50010 Cat5e+ Plenum Unshielded Cable - 500ft (Black) $400 1 $400 PSO Platinum
Tools
202022J10 EZ-RJ45 CAT5e shielded modular plugs 10pk $35 1 $35 OFE Belden 6200UE25010 Speaker unshielded twisted pair plenum cable - 250ft $80 1 OFE Belden 9451P1010 Audio shielded twisted pair plenum cable - 10ft $5 1 OFE TFT ZOOMROPEKIT Hardware Kit for Ceiling Security $32 2 PSO C2G 27155 Cat6 Unshielded Patch Cable - 25ft $25 1 $25 Cart PSO Tech Flex F6N1.50BK25 Techflex Cable Sleeve - 25ft $138 1 $138 Cart Total: $598
.
Training Room
Estimated Total: $15,109
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Zoom PSO Recommended Hardware City of Modesto - IT Training Room - 5th Floor Room Name: IT Training Room - 5th Floor
Company Name: City of Modesto
Room Quantity: 1 Date: 8/22/2023
Zoom PM: Matt Henderson
Room Names: AMENDMENT VENDOR PART # NAME COST QTY TOTAL NEW Comments Primary Displays .
PSO LG 75UR640S9UD LG UR640S Display 75" TV $1,918 1 $1,918 PSO Chief XTM1U X-Large Fusion Micro-Adjustable Tilt Wall Mount $364 1 $364 PSO Chief FCAV1U Fusion Pull Out Accessory $361 1 $361 Total: $2,643 Confidence Monitors .
PSO LG 75UR640S9UD LG UR640S Display 75" TV $1,918 1 $1,918 Back Wall PSO Chief XTM1U X-Large Fusion Micro-Adjustable Tilt Wall Mount $364 1 $364 Total: $2,282 Camera .
PSO Aver PATR313V2 Aver TR313v2 Autotracking 12x Zoom USB PTZ Camera $2,500 1 $2,500 PSO C2G 28873 USB-C to USB-A 2.0 Cable - 12ft $24 1 $24 PSO Logitech 960001226 Logitech Rally 4k USB 3.0 Camera $1,300 1 $1,300 PSO BlackBox IC400AR2 Blackbox USB 2.0 Extender $500 2 $1,000 Total: $4,824 Video DA/Transmission .
PSO Kramer TP580T Kramer 580T Transmitter $268 2 $536 PSO Kramer TP580R Kramer 580R Receiver $268 2 $536 PSO Kramer VM2Hxl Kramer 1x2 HDMI Distribution Amplifier $296 1 $296 PSO C2G 56782 HDMI Cable - 3ft $11 4 $44 2 1 Total: $1,412 Wired HDMI .
PSO Magewell USBCAPTUREHDMIG
EN2 Magewell HDMI to USB adapter $300 1 $300 PSO Kramer TP580T Kramer 580T Transmitter $268 1 $268 PSO Kramer TP580R Kramer 580R Receiver $268 1 $268 PSO C2G 50612 High Speed 4k HDMI Cable - 15ft $35 1 $35 PSO C2G 56782 HDMI Cable - 3ft $11 1 $11 Total: $882 Audio Components .
PSO QSC CORE110FV2 QSC Core 110f Digital Signal Processor $3,500 1 $3,500 PSO C2G CG28102 USB-B to USB-A 2.0 Cable - 6.6ft $7 1 $7 PSO QSC SPA260 QSC Amplifier $705 1 $705 PSO EV EVIDC4.2LP EV Ceiling Speaker 4in Low Profile $175 8 $1,400 PSO Shure MXWAPT2Z10 2-Channel Access Point Tranceiver $1,416 1 $1,416 PSO Shure MXWNCS2 2-Channel Charging Station $650 1 $650 PSO Shure WL185 Beltpack Mic Element $108 1 $108 PSO Shure MXW1/OZ10 Hybrid Bodypack Transmitter $624 1 $624 PSO Shure MXW2/SM58Z10 Handheld Wireless Microphone Transmitter $610 1 $610 PSO Shure MXA920WS Shure MXA920W-S - White (US Only) $4,732 2 $9,464 PSO DLink DGS121010MP 8-Port Switch - 130W PoE Budget $440 1 $440 Total: $18,924 Computer & Accessories . OFE Lenovo|HP|Int el 11U10046US32GB Micro Tower Windows PC + VESA Wall mount (Min Spec. i7 (12th Gen), UHD 770, 16GB (2x8GB), 256 SSD, 3xHDMI|DP, 4xUSB-A, 1xUSB-C)
$1,500 1 PC from 2nd Floor Training Room
PSO C2G 54326 Displayport to HDMI Cable - 6ft $34 1 $34 PSO Logitech 920007119 Logitech Wireless Keyboard w/ touchpad $39 1 $39 PSO Middle Atlantic UTR1 Middle Atlantic Stationary Rack Shelf $53 1 $53 Total: $126 Controller & Accessories .
PSO Apple MK2K3LL/ASGDEP iPad 10.2" Wifi Only 32GB - Space Gray $389 1 $389 PSO iPort 71015 LuxePort Case iPad 10.2” | 7th-9th Gen (Black) $299 1 $299 PSO iPort 71000 LuxePort BaseStation (Black) $400 1 $400 Total: $1,088 Room Scheduler .
PSO Neat NeatPadse Neat Pad Controller/Scheduler $820 2 $1,640 scheduler, Redundant ZRC Total: $1,640 Whiteboard Companion .
PSO DTEN DB0475A1C01 DTEN D7 75" All in One Board $8,659 1 $8,659 Front Wall PSO C2G 27152 Cat6 Unshielded Patch Cable - 7ft $13 1 $13 Total: $8,672
Equipment Rack .
PSO Middle Atlantic MFR1227GE 12u MFR Series Middle Atlantic Rack $1,161 1 $1,161 PSO Middle Atlantic MFRRRK12 12u Rear Rack Rail Kit $50 1 $50 PSO Middle Atlantic LBP1A Lace Bars (10) $57 1 $57 PSO SurgeX SXDS158 SurgeX Defender 8-Outlet 1U Power Conditioner $261 1 $261 PSO Middle Atlantic BR1 1RU Brush Plate $79 1 $79 PSO Middle Atlantic RR23RCN Rack Rail Recessor (Set of 2) $54 1 $54 PSO Chief PTSW100 Rack Screws (100 count) $20 1 $20 PSO Middle Atlantic PHBL1Q1 Middle Atlantic 1 RU Blank Front Panel (single) $15 2 $30 PSO SurgeX SXDS158 SurgeX Defender 8-Outlet 1U Power Conditioner $261 1 $261 PSO Kramer RK3TB 19–Inch Rack Adapter for TOOLS™ (Fits 3) $80 1 $80 PSO Kramer RK1 19–Inch Rack Adapter for Selected Desktop & MultiTOOLS® $75 0 Total: $2,053 Cables & Supplies .
PSO Arlington ARLINGTONBUNDLE LV1 Wall brush plate & bracket $11 2 $22 PSO C2G 27151 Cat6 Unshielded Patch Cable - 3ft $10 1 $10 PSO C2G 27153 Cat6 Unshielded Patch Cable - 10ft $16 2 $32 PSO C2G 24240 IEC Cable - 1ft $5 2 $10 Total: $74 Bulk Supplies .
PSO Belden 1213F50010 Cat5e+ Plenum Unshielded Cable - 500ft (Black) $400 2 $800 PSO Platinum Tools 202022J25 EZ-RJ45 CAT5e shielded modular plugs 25pk $77 1 $77 PSO Belden 6200UE25010 Speaker unshielded twisted pair plenum cable - 250ft $80 1 $80 PSO Belden 9451P1010 Audio shielded twisted pair plenum cable - 10ft $5 1 $5 PSO TFT ZOOMROPEKIT Hardware Kit for Ceiling Security $32 3 $96 Total: $1,058
.
Training Room
Estimated Total: $45,678
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CITY OF MODESTO
CITY COUNCIL AGENDA REPORT
DATE OF MEETING:
December 12, 2023
Date: November 20, 2023
TO: Mayor & City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Brandon Gillespie, Chief of Police; Laurie Smith, Parks Recreation and Neighborhoods Director; Bill Sandhu, Public Works Director SUBJECT: City Parks, Illegal Dumping, Parking Garage, and Downtown Cameras Purchase CONTACT: Brandon Gillespie, Chief of Police, [email protected], 209-572-9501 DESCRIPTION:
Consider approving the purchase of Bi-Occular Box (BOB) cameras with Dotworkz Systems, San Diego, CA, for a total amount not to exceed $859,332; and a purchase of cradle points with AT&T FirstNet for a total amount not to exceed $158,376. (Funding Source: American Rescue Plan Act, General Fund, Measure H, Supplemental Law Enforcement Services Fund, and Traffic Safety Fund)
STRATEGIC PLAN ELEMENT:
This item is related to the adopted City Council 2020-2025 Strategic Plan of Quality-of-Life Goals and Strategies under Goal A: Improve Community Safety.
BACKGROUND:
The City of Modesto continually seeks to enhance public safety and improve the quality of life for its residents. One effective strategy the city utilizes is leveraging camera technology by installing video camera systems in strategic areas of the city to reduce and deter crime, proactively detect crime, aid in quicker response times to criminal activity, capture important evidence, and increase the safety of community members.
In 2016, the Modesto Police Department (MPD) created a Real Time Crime Center (RTCC) with the primary goal of increasing the effectiveness of police department staff by providing pertinent real-time information to field personnel as they responded to calls for service from the community.
Real-time video information derived from cameras connected to the RTCC has been critical to achieving this goal. Information and recordings gathered from both public and private video cameras have been instrumental in solving a variety of crimes including homicides, assaults, shootings, vandalism, illegal dumping, drug use/sales, and theft.
The effectiveness of the RTCC is only limited by the number of cameras deployed within the city.
The majority of camera systems currently installed throughout the city are located on city #18..
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City Council, December 12, 2023
City Parks, Illegal Dumping, Parking Garage and Downtown Cameras Purchase
roadways at major intersections. There are still large areas of the city that do not have video camera coverage including most parks, open spaces, and areas frequented with illegal dumping.
Vandalism, illegal dumping, and criminal activity in these areas continue to be a source of complaints from the community and strain city staff time and resources as they regularly respond to, resolve, and repair issues in these areas.
On November 13, 2023, a version of this request was presented to the Finance Committee. At that time, the request was for 62 assembled video camera systems and one prototype camera box for monitoring in City parks, on cellular towers and to be deployed to combat illegal dumping.
The total amount for the original request was $506,512. At the Committee meeting, the Chief of Police and City Manager also noted the need to bring forward an item to address replacing the cameras monitoring the Downtown Entertainment District as well as one to install cameras in the City’s three parking garages to help combat criminal activity and help citizens feel safer. The members of the Finance Committee recommended the original item move forward and were in support of the additional items as they are needed to improve community safety. The addition of these two items increases the total request by $1,040,534, the details of which are outlined in the section below.
DISCUSSION:
After thoroughly considering community complaints, calls for service, input from City staff, infrastructure readiness, funding availability, and overall camera coverage, staff is seeking authorization to purchase the below cameras and camera systems:
Sixty-two (62) assembled video camera systems and one prototype camera box. o Thirty (30) camera systems will be installed in the downtown area o Twenty-four (24) camera systems will be installed at city park locations o Eight (8) camera systems will be installed in areas frequented by illegal dumping. o The prototype box will be outfitted by MPD with existing cameras and deployed in high crime areas.
Location # of Camera
Systems
Marshall Park 1
Dryden Park Golf Course 1
East La Loma Park 1
Ralston Tower Park 1
Graceada Park 2
Enslen Park 1
Beyer Park & Awesome Spot Playground 2
Chrysler Park 1
Ustach Park 1
Thurman/Fairway Soccer Fields 1
Tuolumne River Regional Park (TRRP)
TRRP A & B 5
Mary Grogan Grove 1
Legion Park 2
Mancini Park 1
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City Council, December 12, 2023
City Parks, Illegal Dumping, Parking Garage and Downtown Cameras Purchase
Crater Avenue 1
Bellenita Park and Soccer Fields 2
Downtown Area 30
Illegal Dumping Camera Systems 8
Total Camera Systems 62
City staff is seeking authorization to purchase these camera systems as a sole source purchase form Dotworkz Inc., who specializes in building camera solutions for businesses and law enforcement agencies, for a total amount not to exceed $859,332. As the City’s camera program has evolved, staff have continued to encounter issues related to the weather in the central valley.
The extreme heat often experienced in Modesto has affected the hard drives of some systems, which not only compromises potential evidence, but also results in extended downtime for the camera systems and takes up valuable staff time to fix.
In doing research, staff identified Dotworkz as one of only a few companies who build camera boxes that contain a cooling component to protect the sensitive electronic components inside the system. Staff also found Dotworkz to be the only vendor identified who not only meets the needed requirements but also does not require an annual subscription or monitoring fee. City staff have found it more efficient and effective to manage and monitor City camera systems in-house and recommend utilizing Dotworkz for this purchase, so the city does not incur these extra unnecessary fees.
While Dotworkz will build and configure these camera systems to a nearly complete status, City staff is seeking authorization to purchase the required cradle point routers and service for these systems from AT&T FirstNet, for a total amount not to exceed $158,376. To have a highly effective camera program, it is important to be able to manage the camera equipment the City is using on the same network. The City currently uses AT&T FirstNet as the network provider for camera program cameras and has standardized cradle point routers as the management hardware.
Modesto Municipal Code Section 8-3.203 generally requires all purchases, which meet or exceed $100,000 for material, equipment, or contractual services to be formally bid. However, MMC 8-
3.204(b) provides that a purchase may be exempted from the City’s formal bidding requirement where the Purchasing Agency’s requirements can be met solely by a single article or process.
Here, Dotworkz solely manufactures, sells, and distributes the Bi-Ocular Box with active cooling and there are no other item(s) or product(s) available for purchase that would serve the same purpose, function, and customizations. Therefore, staff recommends the purchase of Bi-Ocular Box with active cooling be exempt from the formal bidding procedures in accordance with Modesto Municipal Code 8-3.204(b) since Dotworkz is the sole manufacture of the Bi-Ocular Box with active cooling.
Purchasing cradle point routers directly through AT&T FirstNet allows each unit to come configured for the management software used by the City to manage each unit. If the City were to purchase the routers from Dotworkz or any other vendor, staff would be required to re-register each router into the city’s management system, which is time consuming and causes delays in installing the equipment. The City has had a long-standing contract with AT&T FirstNet who has a direct representative assigned to the city and provides a direct contact for configuring and troubleshooting issues.
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City Council, December 12, 2023
City Parks, Illegal Dumping, Parking Garage and Downtown Cameras Purchase
Modesto Municipal Code Section 3.203 generally requires all purchases, which meet or exceed $100,000 for material, equipment, or contractual services to follow formal bid procedures.
However, exceptions to the formal bidding process are granted in MMC 8-3.204(d) “Where the Purchasing Manager, in her discretion, determines that a process other than the formal bid procedure set forth in Section 8-3.203 will result in procurement for the City at the lowest possible cost commensurate with the desired quality.” Here, AT&T provides the standardized cradle point router the City utilizes throughout its camera program, which utilizes the AT&T FirstNet network for which the MPD has an existing contract. Therefore, staff recommends the purchase of cradle point routers with NetCloud and AT&T network service be exempt from the formal bidding process in accordance with Modesto Municipal Code 8-3.204(d).
Additionally, due to ongoing complaints, illegal activity, and concerns for patron and city/county staff safety, staff is seeking authorization to purchase forty-nine individual (49) cameras to be installed in the City’s three (3) parking garages located on 9th Street, 10th Street, and 11th Street.
Parking Garage Location # of Cameras
9 th Street Garage 16
10th Street Garage 22
11th Street Garage 11
Total 49
City staff will be leveraging an existing Council-approved agreement with EyeP Solutions for these cameras.
City staff is confident that by installing these video camera systems, and connecting them to MPD’s RTCC, it will have an immediate positive effect in deterring crime, effectively responding to reports of criminal activity, and capturing pertinent evidence to be used in criminal court when crime does occur.
FISCAL IMPACT:
The cost of this purchase will be distributed among several city department operating funds as well as American Resue Plan Act (ARPA) and Measure H funds. The breakdown for these purchases is as follows:
Expense Type EyeP
Solutions
DotWorkz AT&T
FirstNet
Total
Amount
Illegal Dumping Cameras - $105,643 $20,035 $125,678
Cell Towers - $ 27,137 $5,009 $ 32,146
TRRP - $158,147 $30,052 $188,199
City Parks - $131,945 $25,044 $156,989
Downtown Cameras - $432,960 $77,740 $510,700
Prototype Box - $ 3,500 n/a $3,500
Parking Garages $529,338 - $496 $529,834
Totals: $529,338 $859,332 $158,376 $1,547,046
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City Council, December 12, 2023
City Parks, Illegal Dumping, Parking Garage and Downtown Cameras Purchase
Funding Source: Amount
Parks, Recreation & Neighborhoods General Fund Operating Budget $ 5,945 Parks, Recreation & Neighborhoods TRRP Operating Budget $ 5,944 Parks, Recreation & Neighborhoods Cell Tower Revenue $ 17,000 American Rescue Plan Act (ARPA) – Parks, Recreation and Neighborhoods $110,000 American Rescue Plan Act (ARPA) – TRRP $120,000
American Rescue Plan Act (ARPA) – Public Works Blight & Illegal Dumping $141,780 Modesto Police Department State Law Enforcement Supplemental Funds $ 44,000 Modesto Police Department Traffic Safety Funds $ 61,843 Council approved Measure H funding to update downtown cameras $500,000 **Requesting Measure H Funding for parking garage cameras $529,834 General Fund – Police Department Operating Budget $ 10,700 Totals: $1,547,046
Staff seeks the allocation of Measure H funds for the acquisition and installation of forty-nine individual (49) cameras in the City’s three (3) parking garages located on 9th Street, 10th Street, and 11th Street. These cameras will be used to address ongoing illegal activity and safety concerns. These cameras will be purchased by utilizing the MPD’s agreement with EyeP Solutions, they have been included in the calculations above, however, the total cost will still be within the department’s authorized spending amount and therefore a separate action is only needed to amend the budget if approved for Measure H funding.
Additionally, there will be ongoing monthly data plan and camera connection fees associated with these purchases. The first-year annual costs are included in the above figures. Future years annual costs will be budgeted as part of the City’s annual software maintenance budgeting process in the respective department’s operating budget as part of the Information Technology Internal Service Fund (ISF) allocation.
COMMITTEE RECOMMENDATION:
This was approved by the Finance Committee on November 13, 2023, and was recommended to forward to the Council for approval.
RECOMMENDED ACTION:
Staff Recommendation:
Resolution approving the purchase of Bi-Ocular Box (BOB) cameras with Dotworkz Systems for a total amount not to exceed $859,332, and authorizing the Purchasing Manager, or her designee, to issue the Purchase Order.
Resolution approving the purchase of cradle points with AT&T FirstNet for a total amount not to exceed $158,376, and authorizing the Purchasing Manager, or her designee, to issue the Purchase Order.
Resolution amending the Fiscal Year 2023-2024 multi-year non-capital budget to create a new project and establish applicable revenue, expense and transfer budgets for the parking garage camera project to be funded with Measure H funds in the amount of $529,338 and authorizing the City Manager, or his designee, to take the necessary steps to implement the provisions of this resolution.
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City Council, December 12, 2023
City Parks, Illegal Dumping, Parking Garage and Downtown Cameras Purchase
Approved by:
Brandon Gillespie, Chief of Police
Joseph P. Lopez, City Manager
Attachments:
1. Resolutions (3)
2. Dotworkz Inc. Camera systems quote
3. Dotworkz Inc. Bid Waiver & Sole Source Letter
4. AT&T FirstNet cradle point Quote
5. AT&T FirstNet Bid Waiver
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1 MODESTO CITY COUNCIL
RESOLUTION NO. 2023-?
RESOLUTION APPROVING THE PURCHASE OF BI-OCULAR BOX (BOB)
CAMERAS WITH DOTWORKZ SYSTEMS FOR A TOTAL AMOUNT NOT TO EXCEED $859,332; AND AUTHORIZING THE PURCHASING MANAGER, OR
HER DESIGNEE, TO ISSUE THE PURCHASE ORDER
WHEREAS, the City of Modesto continually seeks to enhance public safety and improve the quality of life for its residents; and
WHEREAS, one effective strategy the city utilizes is leveraging camera technology by installing video camera systems in strategic areas of the city to reduce and deter crime, proactively detect crime, aid in quicker response times to criminal activity, capture important evidence, and increase the safety of community members; and WHEREAS, in 2016, the Modesto Police Department (MPD) created a Real Time Crime Center (RTCC) with the primary goal of increasing the effectiveness of police department staff by providing pertinent real-time information to field personnel as they responded to calls for service from the community; and
WHEREAS, real-time video information derived from cameras connected to the RTCC has been critical to achieving this goal; and
WHEREAS, information and recordings gathered from both public and private video cameras have been instrumental in solving a variety of crimes including homicides, assaults, shootings, vandalism, illegal dumping, drug use/sales, and theft; and WHEREAS, the effectiveness of the RTCC is only limited by the number of cameras deployed within the city; and
WHEREAS, there are still large areas of the city that do not have video camera coverage including most parks, open spaces, and areas frequented with illegal dumping. #18..
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2 Vandalism, illegal dumping, and criminal activity in these areas continue to be a source of complaints from the community and strain city staff time and resources as they regularly respond to, resolve, and repair issues in these areas; and WHERAS, City of Modesto will purchase sixty-two assembled video camera systems and one prototype camera; and
WHEREAS, the Bi-Ocular Box (BOB) cameras will be installed in the downtown area, city parks and areas frequented by illegal dumping; and WHEREAS, Modesto Municipal Code Section 8-3.203 generally requires all purchases, which meet or exceed $100,000 for material, equipment, or contractual services to be formally bid. However, MMC 8-3.204(b) provides that a purchase may be exempted from the City’s formal bidding requirement where the Purchasing Agency’s requirements can be met solely by a single article or process. Here, Dotworkz solely manufactures, sells, and distributes the Bi-Ocular Box with active cooling and there are no other item(s) or product(s) available for purchase that would serve the same purpose, function, and customizations. Therefore, staff recommend the purchase of Bi-Ocular Box with active cooling be exempt from the formal bidding procedures in accordance with Modesto Municipal Code 8-3.204 (b) since Dotworkz is the sole manufacturer of the BiOcular Box with active cooling.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto approves the purchase of Bi-Ocular Box (BOB) cameras with Dotworkz for an amount not to exceed $859,332.
BE IT FURTHER RESOLVED that the Purchasing Manager, or her designee, is authorized to take the necessary steps to issue the Purchase Order. #18..
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3 The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 12th day of December, 2023, by Councilmember ?, who moved its adoption, which motion being duly seconded by Councilmember ?, was upon roll call carried and the resolution adopted by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
ATTEST: _______________________________
DIANE NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:
BY: _____________________________________
JOSE M. SANCHEZ, City Attorney
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1 MODESTO CITY COUNCIL
RESOLUTION NO. 2023-?
RESOLUTION APPROVING THE PURCHASE OF CRADLE POINTS WITH AT&T FIRSTNET FOR A TOTAL AMOUNT NOT TO EXCEED $158,376; AND
AUTHORIZING THE PURCHASING MANAGER, OR HER DESIGNEE, TO
ISSUE THE PURCHASE ORDER
WHEREAS, the Modesto Police Department, the Parks, Recreation Neighborhoods Depart and the Public Works Departments have partnered together to provide camera systems in parks, open spaces and areas frequented with illegal dumping; and
WHERAS, City of Modesto will purchase cradle point routers for the camera systems; and
WHEREAS, purchasing cradle point routers directly through AT&T FirstNet allows each unit to come configured for the management software used by the City to manage each unit; and
WHEREAS, the City has a long-standing contract with AT&T FirstNet who has a direct representative assigned to the city and provides a direct contact for configuring and troubleshooting issues; and
WHEREAS, Modesto Municipal Code Section 3.203 generally requires all purchases, which meet or exceed $100,000 for material, equipment, or contractual services to follow formal bid procedures. However, exceptions to the formal bidding process are granted in MMC 8-3.204(d) “Where the Purchasing Manager, in her discretion, determines that a process other than the formal bid procedure set forth in Section 8-3.203 will result in procurement for the City at the lowest possible cost commensurate with the desired quality.” Here, AT&T provides the standardized cradle #18..
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2 point router the City utilizes throughout its camera program, which utilizes AT&T FirstNet network for which the MPD has an existing contract. Therefore, staff recommends the purchase of cradle point routers with NetCloud and AT&T network services be exempt from the formal bidding process in accordance with Modesto Municipal Code 8-36.204(d).
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto approves purchase of cradle point routers with AT&T FirstNet for total amount not to exceed $158,376.
BE IT FURTHER RESOLVED that the Purchasing Manager, or her designee, is authorized to take the necessary steps to issue the Purchase Order.
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 12th day of December, 2023, by Councilmember ?, who moved its adoption, which motion being duly seconded by Councilmember ?, was upon roll call carried and the resolution adopted by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
ATTEST: _______________________________
DIANE NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:
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3 BY: _____________________________________
JOSE M. SANCHEZ, City Attorney
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1 MODESTO CITY COUNCIL
RESOLUTION NO. 2023-?
RESOLUTION AMENDING THE FISCAL YEAR 2023-2024 MULTI-YEAR
NON-CAPITAL BUDGET TO CREATE A NEW PROJECT AND ESTABLISH
APPLICABLE REVENUE, EXPENSE AND TRANSFER BUDGETS FOR THE
PARKING GARAGE CAMERA PROJECT TO BE FUNDED WITH MEASURE H FUNDS IN THE AMOUNT OF $529,338 AND AUTHORIZING THE CITY
MANAGER, OR HIS DESIGNEE, TO TAKE THE NECESSARY STEPS TO
IMPLEMENT THE PROVISIONS OF THIS RESOLUTION
WHEREAS, on November 8, 2022, Modesto voters approved Measure H, a onecent sales tax for general City services, and on November 29, 2022 by Resolution No. 2022-453 the Modesto City Council certified the election results; and WHERAS, Measure H is expected to provide the City with approximately $42 million annually in additional sales tax revenue into its General Fund; and WHEREAS, the City is purchasing and installing camera systems in the City to help enhance public safety and improve the quality of life for residents.
WHEREAS, the project will be funded with $529,338 in Measure H funds; and NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that is hereby amends the fiscal year 2023-2024 Multi-Year Non-Capital budget to create a new project and establish applicable revenue, expense and transfer budgets for the parking garage camera project to be funded with Measure H funds.
BE IT FURTHER RESOLVED that the City Manager, or his designee, is authorized to take the necessary steps to implement the provisions of this resolution.
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 12th day of December, 2023, by Councilmember ?, who moved its adoption, which motion being duly seconded by Councilmember ?, was upon roll call carried and the resolution adopted by the following vote:
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2 AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
ATTEST: _______________________________
DIANE NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:
BY: _____________________________________
JOSE M. SANCHEZ, City Attorney
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FirstNet ACDA Valuepoint Rate Plan Proposal
Proposal Date: October 23, 2023Equipment Purchase Pricing based on Fully qualified upgrade eligiblity of subscribers. 7.10% SKU Qty Retail Discount Device Net Cost Estimated Tax Estimated Cost per Device Total Estimated Cost MA05-0920-C7A-NA 32 $1,875 ($187.50) $ 1,687.50 $166.50 $ 1,854.00 $ 59,328.00 PTA2BC2L06B 32 $114.45 ($22.33) $ 92.12 $10.16 $102.28 $3,272.96 PTA0637 32 $59.00 ($11.51) $47.49 $5.23 $52.72 $1,687.04 $ 64,288.00
Service Fees Monthly
Device Type Qty Retail Discount Net Cost per Device Est Tax, Fees & Surcharges Est Total Per Device Total Estimated Cost 32 $40 ($3.00) $ 37.00 $4.28 $ 41.28 $ 1,320.96
$ 1,320.96
Thank you,
Ebeth Rodriguez
Client Solutions Executive, MobilityPublic Sectior, FirstNet, Local Government & Education Cell: 707.474.2601
Camera Project
NOTES
Description
5-yr NetCloud Mobile Essentials Plan and R920 router with WiFi (300Mbps
modem), no AC power supply or antennas, North America
Doug Ridenour
TBDTBD City of Modesto- Camera Project Requested By:
BAN:
FAN:
Pole/wall bracket - (Chihuahua, Border Collie)
Description
Gov Data Unlimited Plan
Upgrade eligibility for full subsidy on 2-Yr price available every 21 months.
PTA2BC 2 CELL/5G 6 FT Black
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MPD Bid Waiver - AT&T
Final Audit Report 2023-11-01
Created: 2023-11-01
By: Juana Lynch ([email protected])
Status: Signed
Transaction ID: CBJCHBCAABAAEY65Gd6YIrxjOw8HkyGSbkgyF9yeO7Ro "MPD Bid Waiver - AT&T" History
Document created by Juana Lynch ([email protected]) 2023-11-01 - 3:29:04 PM GMT
Document emailed to Scott Conn ([email protected]) for signature 2023-11-01 - 3:29:38 PM GMT
Email viewed by Scott Conn ([email protected])
2023-11-01 - 3:55:23 PM GMT
Document e-signed by Scott Conn ([email protected])
Signature Date: 2023-11-01 - 3:55:47 PM GMT - Time Source: server Agreement completed. 2023-11-01 - 3:55:47 PM GMT
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CITY OF MODESTO
CITY COUNCIL AGENDA REPORT
DATE OF MEETING:
December 12, 2023
Date: December 6, 2023
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Brandon Gillespie, Chief of Police
SUBJECT: Purchasing Agreement with Axon Enterprise, Inc. for Officer Safety Plan 10 Premium
CONTACT: Brandon Gillespie, Chief of Police, [email protected], 209-572-9501 DESCRIPTION:
Consider approving a Purchasing Agreement with Axon Enterprise, Inc., Scottsdale, AZ, for body worn cameras, tasers and related equipment and software for a total amount not to exceed $6,125,690 over five years. (Funding Source: General Fund, Supplemental Law Enforcement Services Fund (SLESF) and Traffic Safety Fund)
STRATEGIC PLAN ELEMENT:
This item is related to the adopted City Council 2020-2025 Strategic Plan for Governance and Service Delivery by building community trust in city government through transparent and efficient service delivery.
BACKGROUND:
The use-of-force by law enforcement personnel is a matter of critical concern, both to the public and to law enforcement. The Modesto Police Department (MPD) has long valued transparency and was an early adopter of body-worn cameras, wearing in-field body cameras since 2012, when the Council first authorized the purchase of Flex body cameras manufactured from TASER International by Resolution No. 2012-239. In 2016, by Resolution No. 2016-318, the Council authorized an additional five (5) year agreement with TASER International (now doing business as Axon Enterprise, Inc.) to continue providing body-worn camera equipment, storage, support, maintenance, and Taser conducted energy weapons to the MPD. In 2020, by Resolution No. 2020-538 the Council authorized a new five (5) year agreement in an amount of $2,566,211 with Axon to upgrade to the newest Body 3 cameras and Taser 7 Tasers and added additional equipment including Axon Fleet 3 In-Car camera systems.
The current agreement with Axon Enterprise, Inc. expires on December 17, 2025. In early 2023, Axon unveiled a completely new Taser, the Taser 10, as part of its “moonshot” goal of cutting firearms-related deaths between law enforcement and the public by 50% in ten years. The MPD is committed to utilizing tools and equipment to preserve life and is seeking authorization to #19..
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City Council, December 12, 2023
Purchasing Agreement with Axon Enterprise, Inc. for Officer Safety Plan 10 Premium
upgrade to the Taser 10 energy weapon and add additional hardware and software services to reduce lethal outcomes, improve accountability, and increase transparency. City staff is recommending terminating the current agreement since the original product has been upgraded.
DISCUSSION:
On December 6, 2023, the City Manager authorized the Purchasing Manager to solicit the procurement for Officer Safety Plan 10, body worn cameras, tasers and related equipment and software. On January 5, 2022, the University of Nebraska issued Request for Proposal (RFP) 3544-21-4615 for body worn cameras and related products and services on the University of Nebraska website, OMNIA Partner website, USA Today nationwide, San Bernardino County Sun CA, Honolulu Star-Advertiser HI, The Herald News-New Orleans LA, Albany Times Union NY, Daily Journal of Commerce OR, The State SC, Deseret News UT, Richmond Times-Dispatch VA, Seattle Daily Journal of Commerce WA, Houston Community Newspaper TX, Helena Independent Record MT, Las Vegas Review-Journal and/or Las Vegas Sun, and Kennebec Journal/Morning Sentinel, ME. On February 8, 2022, proposals were opened electronically through unlebid.ionwave.net. Four (4) proposals were received and based on the evaluation committee and criteria outlined in the RFP, one (1) contract was awarded for this commodity which includes the body worn cameras and related products and services. Based on the responsible and responsive proposer offering the method of approach, qualifications and experience, and price. City staff recommends to award to Axon Enterprise, Inc., Scottsdale, AZ to purchase for body worn cameras, tasers and related equipment and software for a five-year agreement for a total amount not to exceed $6,125,690 over five years.
Omnia Partners is a cooperative agency which streamlines the procurement process by developing RFBs or RFPs for national competitive solicitations that meet or exceed local requirements. The competitive process is continually refined to best meet agency needs and allows Omnia Partners to offer exceptional products from nationally acclaimed vendors.
The new Taser 10 energy weapon is revolutionary in that it deploys 10 single-probe cartridges, providing users with up to 9 opportunities to achieve an effective connection and induce neuromuscular incapacitation (NMI). This is critically significant because in all previous Tasers, users had no choice but to deploy two probes at one time and had no more than two opportunities to land two probes in the right places to obtain NMI. With Taser 10, users can choose where each individual probe is placed, allowing officers to localize the NMI depending on the situation.
Other significant features of the new Taser 10 include:
45-foot maximum range
At nearly double the range of previous TASER energy weapons, TASER 10 creates more time and space to de-escalate and resolve conflicts.
Individually targeted probes
Intuitive single probe deployment allows users to place each probe with precision and accuracy regardless of distance to the subject. Users can also create their own spread up close and at a long range, choosing their preferred target area.
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City Council, December 12, 2023
Purchasing Agreement with Axon Enterprise, Inc. for Officer Safety Plan 10 Premium
Any-probe connect
Intelligent, any-probe connect with spread optimizer energizes up to 4 probes at once to maximize the effectiveness of the probe deployment.
VR integration
Integration with Axon VR allows officers to enhance TASER proficiency, use-of-force decisionmaking, confidence and accuracy under stress.
Audible and visual warning alert
A bright pulsing light and loud alert sound emit whenever the weapon’s Warning Alert is initiated, allowing the user the opportunity to de-escalate without deploying cartridges.
Daylight green laser
A more visible green LASER improves user aim in daylight scenarios.
Enhanced data tracking
Automatically tracks when TASER 10 is inserted or removed from a holster, estimates deployment distance, and tracks which probes make a connection.
In addition to upgrading to the new Taser 10 energy weapon, the OSP 10 Premium Program pricing for MPD also includes:
Virtual Reality (VR) Training
It takes constant training for police officers to perform at their best. Axon VR training is immersive de-escalation training that ultimately makes both communities and officers safer. The VR training allows officers to “live” scenarios before they are encountered in the field, triggering similar stress responses and enabling officers to build stronger muscle memory during training. VR training also enhances efficiency and knowledge retention through on-demand training in short, focused and frequent sessions.
My90
This is a community engagement software tool that bridges the gap between police leadership, their officers, and the communities they serve. My90 automatically sends those who call for help short surveys about agency interactions. High response rates from automated surveys help agencies optimize community engagement. My90 can also be utilized to conduct internal surveys to reduce burnout and support officer wellness, and to engage community members on social media and our MPD website.
Axon Performance
Axon Performance gives near-immediate access to key body-worn camera (BWC), Taser energy weapon and Fleet dash camera metrics. Public safety agencies can leverage this data to identify opportunities for development, better define policies and ensure usage guidelines are met. With Axon Performance, supervisors can streamline the review process through randomized or priority ranked video audits. Axon Performance also identifies calls for service where there was no BWC video when there should be or where a BWC was powered off. Additionally, it can draw out actionable insights from video reviews on an aggregate audit dashboard and identify who got the most "Great Performance" feedback and who needs coaching in order to achieve policy goals. #19..
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City Council, December 12, 2023
Purchasing Agreement with Axon Enterprise, Inc. for Officer Safety Plan 10 Premium