Agenda packet — Modesto City Council, June 11, 2024 (part 2 of 6)

Architectural & Engineering Services for Capital Projects, a Request for Qualification and Proposals (RFQ/RFP) was formally advertised through Planet Bids on January 26, 2024, for On-Call Inspection Services.

Ten firms submitted responses to the RFQ-RFP.

After careful review of the Statement of Qualifications & Proposals, staff determined that Dillon and Murphy Engineering, West Yost & Associates, and TRC Engineering, Inc., were the three most qualified firms. Staff recommends that the City enter into on-call agreements with each firm for a one-year agreement with two one-year extension options, for an estimated annual amount of $74,500 per consultant, and a total amount not to exceed $223,500 per consultant over three years.

Each of the three firms, Dillon and Murphy Engineering, West Yost & Associates, and TRC Engineering, Inc., may be assigned to a Capital Improvement Project before construction begins, may be utilized for night inspections, fill in when staff is out for extended leave, or when deemed necessary. When services are required for a particular project, a specific scope of services is to be provided by the Consultant and shall be further defined and authorized by the City through the issuance of a project-specific Task Order. Each specific Task Order will require a written scope outlining the specific services to be provided by the Consultant, the schedule for completion, and the proposed compensation amount and payment methodology to perform the specified services. The City must authorize each Task Order in writing prior to commencement of services by the Consultant. The cumulative amount of all task orders for construction inspection services shall not exceed the approved agreement amount.

FISCAL IMPACT:

Costs for construction inspection services will be based on unit prices and hourly rates agreed to in the contract. Costs will vary on a project-by-project basis and are billed respectively to each project. When construction projects are completed, staff includes these expenses with each staff report for project acceptance.

The funding source for the on-call services will be through various Capital Improvement Program project budgets.

COMMITTEE RECOMMENDATION
This item was considered by the Finance Committee at the May 20, 2024, meeting, where it was recommended that it be forwarded to Council.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution approving On-Call Agreements for Construction Inspection Services with Dillon and Murphy Engineering, TRC Engineering, Inc., and West Yost & Associates for a one-year agreement with two one-year extension options, for an estimated annual amount of $74,500 per consultant, and a total amount not to exceed $223,500 per consultant over three years and authorizing the City Manager, or his designee, to execute the Agreement. #5..
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City Council, June 11, 2024
On-Call Construction Inspection Services for Various Capital Improvement Projects

Page 3 of 3 ends

Approved by:

Toby Wells, Director of Engineering Services/City
Engineer
Joseph P. Lopez, City Manager
Attachments:

1. Resolution

2. Dillon & Murphy, Agreement

3. West Yost & Associates, Agreement

4. TRC Engineering, Inc., Agreement

5. Dillon & Murphy Exhibits

6. West Yost & Associates Exhibits

7. TRC Engineering, Inc. Exhibits
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MODESTO CITY COUNCIL
RESOLUTION NO. 2024-

RESOLUTION APPROVING ON-CALL AGREEMENTS FOR CONSTRUCTION

INSPECTION SERVICES, WITH DILLON AND MURPHY ENGINEERING, TRC ENGINEERING, INC., AND WEST YOST & ASSOCIATESFOR A ONEYEAR AGREEMENT WITH TWO ONE-YEAR EXTENSION OPTIONS, FOR AN ESTIMATED ANNUAL AMOUNT OF $74,500 PER CONSULTANT, AND A TOTAL AMOUNT NOT TO EXCEED $223,500 PER CONSULTANT OVER

THREE YEARS AND AUTHORIZING THE CITY MANAGER, OR HIS

DESIGNEE TO EXECUTE THE AGREEMENT
WHEREAS, the Construction Administration Division for the City of Modesto is housed within the Engineering Services Department and serves as the sole group responsible for construction management and inspection services for nearly all capital projects over $50,000 and inspection of all encroachment permits issued by the City; and WHEREAS, from time to time, project workload and permit workload requires more resources than the City has available internally; and WHEREAS, for those times, the City will utilize this list to hire one of the prequalified firms. The City will determine the best method of authorizing work based on the project needs and the firm(s) with the strongest skills and abilities in all required facets of construction management and inspection services; and WHEREAS, in accordance with Modesto Municipal Code 8-3.204(a), “Exceptions to Formal Bidding Requirements,” agreements for professional services are exempt from the formal bidding process and requirements of Modesto Municipal Code 8-3.203 if competitive quotations or proposals have been sought informally from at least three (3) qualified entities. In accordance with Administrative Directive 3.1, Selection Procedures for Professional Consultants Who Provide Architectural & Engineering Services for #5..
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Capital Projects, a Request for Qualification and Proposals (RFQ/RFP) was formally advertised through Planet Bids on January 26, 2024, for On-Call Inspection Services; and WHEREAS, ten firms submitted responses to the RFQ-RFP; and WHEREAS, after careful review of the Statement of Qualifications-& Proposals, staff determined that Dillon and Murphy Engineering, West Yost & Associates, and TRC Engineering, Inc., were the three most qualified firms. Staff recommends that the City enter into on-call agreements with each firm for a one-year agreement with two one-year extension options, for an estimated annual amount of $74,500 per consultant, and a total amount not to exceed $223,500 per consultant over three years; and WHEREAS, staff recommends that the City enter into an On-Call Agreement with Dillon and Murphy Engineering, TRC Engineering, Inc., and West Yost & Associates for a one-year agreement with two one-year extension options, for an estimated annual amount of $74,500, and a total amount not to exceed $223,500 per consultant over three years.

NOW, THEREFORE BE IT RESOLVED by the Council of the City of Modesto that it hereby approves an On-call Agreement with Dillon and Murphy Engineering, TRC Engineering, Inc., and West Yost & Associates, for Construction Inspection Services, for a one-year agreement with two one-year extension options, for an estimated annual cost of $74,500, and a total not to exceed amount of $223,500 over three years.

BE IT FURTHER RESOLVED, that the City Manager, or his designee, is hereby authorized to execute the agreement in a form approved by the City Attorney. #5..
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The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 11th day of June 2024, 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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ON-CALL AGREEMENT FOR

ON-CALL CONSTRUCTION INSPECTION SERVICES FOR VARIOUS CAPITAL

IMPROVEMENT PROJECTS
THIS AGREEMENT, made and entered into in the City of Modesto, State of California, this day of , 2024, (“Effective Date”) by and between the CITY OF MODESTO, a municipal corporation of the State of California, hereinafter referred to as "City", and DILLON AND MURPHY ENGINEERING, a California Corporation, hereinafter referred to as "Consultant".

This Agreement is made with regard to the following recitals:

A. City has determined that there is a need for On-Call Construction Inspection Services for Various Capital Improvement Projects.

B. Consultant represents that it is qualified, willing, and able to provide the requested On-Call Construction Inspection Services.

NOW, THEREFORE, in consideration of this agreement, and the mutual promises, covenants, and stipulations hereinafter contained, the parties agree as follows:

1. SCOPE OF SERVICES.

Services to be provided by Consultant under this agreement shall generally fall under, but are not limited to, one or more of the categories as set forth and described in the documents attached hereto and referred to as Exhibit "A".

Specific scope(s) of services to be provided by Consultant shall be further defined by and authorized by City through the issuance of project-specific Task Orders. Each specific Task Order will require a written, scope outlining the specific services to be provided by Consultant, the schedule for completion, and the proposed compensation amount(s) and payment #5..
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methodology to perform the specified services. The City must authorize each Task Order in writing prior to commencement of services by the Consultant.

The Consultant shall perform the services, as described in Exhibit "A" to this Agreement and subsequent Task Orders, in a manner compatible with the standards of its profession and shall produce a fully complete project that is acceptable to City.

2. TERM OF AGREEMENT.

This Agreement is effective as of the date first written above and will continue in effect until City's acceptance of and payment for all services authorized by City and performed by Consultant, or one (1) year from the above date, whichever occurs latter, with the possibility of two (2) one (1) year extension options, at the sole discretion of City, unless terminated earlier in accordance with the provisions of the termination clause in this Agreement.

City hereby gives Consultant notice to proceed with the provision of services described in Exhibit "A" to this Agreement, as of the Effective Date of this agreement.

Consultant shall diligently proceed with the work and agrees to complete said specific scope(s) of services within the time period set forth in each respective Task Order.

3. COMPENSATION.

Consultant agrees to accept an estimated amount of SEVENTY FOUR THOUSAND FIVE HUNDRED AND 00/100 DOLLARS ($74,500) per year, and a total estimated sum not to exceed TWO HUNDRED TWENTY THREE THOUSAND FIVE HUNDRED AND 00/100 DOLLARS ($223,500) over three years as of the Effective Date as full remuneration for performing all services and furnishing all staffing and materials called for in Exhibit "A”, and subsequent Task Orders, and for performance by Consultant of all of its duties and obligations under this Agreement.
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The Compensation shall be paid pursuant in the manner and at the times set forth below:

City shall pay Consultant for work performed as authorized by subsequent Task Orders. All work shall be billed: 1) on a time and materials basis, at the hourly rates set forth in Exhibit “B”, attached hereto, or 2) on a lump sum, fixed fee basis, as authorized by City per specific Task Order(s). Lump sum fees shall generally be in accordance with approximate amounts as shown in Exhibit “B”. Unless otherwise approved by City, the hourly rates and lump sum fees shown in Exhibit “B” shall remain in effect for the entire term of the agreement, including all extensions.

Consultant shall submit monthly invoices to City which include a detailed description of completed tasks, hours worked, and billable rates or percentage complete (for lump sum tasks) for all work completed, and detailed receipts for any out-of-pocket costs paid by Consultant in connection with work performed on this Project.

4. OBLIGATIONS OF CONSULTANT.

Throughout the term of this Agreement, Consultant shall possess, or secure all licenses, permits, qualifications and approvals legally required to conduct business.

Consultant warrants that it has all of the necessary professional capabilities and experience, as well as all tools, instrumentalities, facilities and other resources necessary to provide the City with the services contemplated by this Agreement. Consultant further warrants that it will follow the best current, generally accepted and professional practices to make findings, render opinions, prepare factual presentations, and provide professional advice and recommendations regarding this project.

5. PERFORMANCE BY KEY EMPLOYEE.
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Consultant has represented to City that Kevin Moran will be the person primarily responsible for the performance of the services referred to in this Agreement. City has entered into this Agreement in reliance on that representation by Consultant. Consultant therefore agrees that ten percent (10%) or more of the time to be devoted to the project that is the subject of this Agreement will be that of the above-named person.

6. OWNERSHIP OF DOCUMENTS/TITLE TO DATA.

Ownership of Documents
All reports, drawings, designs, graphics, working papers and other incidental work or materials furnished hereunder shall become and remain the property of the City, and may be used by City as it may require without any additional cost to City. No reports shall be used by the Consultant for purposes other than this contract without the express prior written consent of City.

Title to Data
If, as a part of the agreement, Consultant is required to produce data such as, but not limited to, drawings, plans, specifications, calculations, models, flow diagrams, visual aids and other related materials, the originals of all such data generated under this agreement will be delivered to City upon the completion or termination of services under the contract.

All materials, documents, data or information obtained from the City data files or any City medium furnished to Consultant in the performance of this Agreement will at all times remain the property of the City. Such data or information may not be used or copied for direct or indirect use by Consultant after termination of this Agreement without written consent of the City.

7. NEWS AND INFORMATION RELEASE.
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Consultant agrees that it will not issue any news releases in connection with either the award of this Agreement, or any subsequent amendment of or efforts under this Agreement, without first obtaining review and approval of said news releases from City through the City Manager.

8. INTEREST OF CONTRACTOR.

Consultant warrants that it presently has no interest and shall not acquire any interest, direct or indirect, which would conflict in any manner or degree with the performance of services required to be performed under this Agreement. Consultant warrants that, in performance of this Agreement, Consultant shall not employ any person having any such interest. Consultant agrees to file a Statement of Economic Interests with the City Clerk at the start and end of this contract if so required at the option of City.

9. AMENDMENTS.

Both parties to this Agreement understand that it may become desirable or necessary during the execution of this Agreement, for City or Consultant to modify the scope of services provided for under this Agreement. Any material extension or change in the scope of work shall be discussed with City and the change and cost shall be memorialized in a written amendment to the original contract prior to the performance of the additional work.

Until a change order is so executed, City will not be responsible to pay any charges Consultant may incur in performing such additional services, and Consultant shall not be required to perform any such additional services.

10. INDEPENDENT CONTRACTOR.

All acts of Consultant, its agents, officers, and employees and all others acting on behalf of Consultant relating to the performance of this Agreement, shall be performed #5..
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as independent contractors and not as agents, officers, or employees of City. Consultant, by virtue of this Agreement, has no authority to bind or incur any obligation on behalf of City.

Consultant has no authority or responsibility to exercise any rights or power vested in the City.

No agent, officer, or employee of the City is to be considered an employee of Consultant. It is understood by both Consultant and City that this Agreement shall not under any circumstances be construed or considered to create an employer-employee relationship or a joint venture.

Consultant, its agents, officers and employees are and, at all times during the terms of this Agreement, shall represent and conduct themselves as independent contractors and not as employees of City.

Consultant is permitted to provide services to others during the same period service is provided to City under this Agreement. If necessary, Consultant has the responsibility for employing other persons or firms to assist Consultant in fulfilling the terms and obligations under this Agreement.

If in the performance of this Agreement any third persons are employed by Consultant, such persons shall be entirely and exclusively under the direction, supervision, and control of Consultant. All terms of employment including hours, wages, working conditions, #5..
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discipline, hiring, and discharging or any other term of employment or requirement of law shall be determined by the Consultant.

It is understood and agreed that as an independent contractor and not an employee of City neither the Consultant or Consultant's assigned personnel shall have any entitlement as a City employee, right to act on behalf of the City in any capacity whatsoever as an agent, or to bind the City to any obligation whatsoever.

It is further understood and agreed that Consultant must issue W-2 forms or other forms as required by law for income and employment tax purposes for all of Consultant's personnel.

As an independent contractor, Consultant hereby indemnifies and holds City harmless from any and all claims that may be made against City based upon any contention by any third party that an employer-employee relationship exists by reason of this Agreement.

11. ASSIGNMENT.

Neither this Agreement nor any portion thereof shall be subcontracted or assigned without the express prior written consent of the City in each and every instance.

12. PATENT/COPYRIGHT MATERIALS.

Unless otherwise expressly provided in the contract, Consultant shall be solely responsible for obtaining the right to use any patented or copyrighted materials in the performance of this Agreement. Consultant shall furnish a warranty of such right to use to City at the request of City.

13. NOTICES.

Notice required by this Agreement shall be given in writing and shall be deemed given and effective upon receipt provided that such are delivered in accordance with the #5..
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provisions of this Section. Notices shall be delivered either by: (a) personal delivery (including delivery by an overnight courier service which obtains confirmation of receipt); or (b) by facsimile, provided that such transmission is followed by delivery by an overnight courier service which obtains confirmation of receipt; or (c) postage prepaid, return receipt requested, certified mail; or (d) by electronic transmission subject to reasonable proof that the notice was both transmitted and received. Each such notice shall be sent to the parties at the address respectively set forth below or to such other address as a party may designate by written notice given in accordance with the provisions of this Section:

FOR CONSULTANT: Name: Dillon and Murphy Engineering
Address: 847 N. Cluff Avenue
Lodi, CA 95240
Attention: Cecil Dillon
Phone: (209) 334-6613
Email: [email protected]
FOR CITY: Name: City of Modesto
Address: 1010 10th Street, Suite 4600
Modesto, CA 95354
Attention: Pete Kambel
Phone: (209) 577-5348
Email: [email protected]

14. INSURANCE REQUIREMENTS.

The Consultant shall provide at its own expense and maintain at all times the following insurance with insurance companies licensed in the State of California and shall provide evidence of such insurance to the City as may be required by the Risk Manager of the City. The policies or certificates thereof shall provide that, thirty (30) days prior to cancellation #5..
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or material change in the policy, notices of same shall be given to the Risk Manager of the City by certified mail, return receipt requested, for all of the following stated insurance policies.

In the event the certificates of insurance required hereunder do not provide for notice of cancellation to the certificate holder and/or additional insureds, the Consultant shall provide, and shall require its subcontractors to provide, as an express condition precedent to payment hereunder, an endorsement from their insurers providing that the additional insureds identified herein shall be provided 30 days notice of the cancellation on the policies of insurance required hereunder (10 days notice if the policies are cancelled for non-payment of premium). In addition, the named insured on all such policies shall provide to the additional insureds identified herein any notices of cancellation of said insurance policies within 5 business days of receipt of such notice. The Consultant shall, as a further express condition precedent to payment for work performed, affirm under penalty of perjury that the required insurance on the project remains in place and said insurance has not been cancelled.
(a) Worker's Compensation in compliance with the statutes of the State of California, plus employer's liability with a minimum limit of liability of $1,000,000. (b) General Liability insurance with a minimum limit of liability per occurrence of $1,000,000 for bodily injury and property damage. If Commercial General Liability Insurance or other form 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.
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(c) Automobile Liability insurance with a minimum limit of liability per occurrence of $1,000,000 for bodily injury and property damage. This insurance shall cover any automobile for bodily injury and property damage.
(d) Professional Liability insurance with a minimum limit of $1,000,000 per claim and policy aggregate. If coverage is on a claims made basis it shall be maintained for at least three (3) years following completion of the work.

If at any time any of said policies shall be unsatisfactory to the City, as to form or substance, or if a company issuing such policy shall be unsatisfactory to the City, the Consultant shall promptly obtain a new policy, submit the same to the Risk Manager for approval and submit a certificate thereof as hereinabove provided. Upon failure of the Consultant to furnish, deliver or maintain such insurance and certificates as above provided, this Agreement, at the election of the City, may be forthwith declared suspended or terminated.

Failure of the Consultant to obtain and/or maintain any required insurance shall not relieve the Consultant from any liability under this Agreement, nor shall the insurance requirements be construed to conflict with or otherwise limit the obligations of the Consultant concerning indemnification. The City, its agents, officers, employees, and volunteers shall be named as an additional insured on all insurance policies required herein, except Workers' Compensation and Professional Liability. The Workers' Compensation insurer shall agree to waive all rights of subrogation against the City, its agents, officers, employees, and volunteers for losses arising from work performed by Consultant for the City. The Consultant's insurance policy(ies) shall include a provision that the coverage is primary as respects the City; shall include no special limitations to coverage provided to additional insured; and, shall be placed with insurer(s) with acceptable Best's rating of A:VII or with approval of the Risk Manager. The Consultant must #5..
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deliver certificates evidencing existence of the insurance listed above to the City prior to the time the contract is signed.

CONSULTANT shall provide CITY with separate endorsements evidencing proof of the CITY’s additional insured status as to both the general liability and automobile liability insurance policies. In addition, CONSULTANT shall provide CITY with a Workers Compensation subrogation waiver by way of a separate endorsement. All endorsements referenced above must include the applicable policy number.

For any claims related to this project, the CONSULTANT’S insurance coverage shall be primary insurance as respects the Entity, its officers, officials, employees, and volunteers. Any insurance or self-insurance maintained by the Entity, its officers, officials, employees, or volunteers shall be excess of the CONSULTANT’S insurance and shall not contribute with it.

15. TERMINATION OF AGREEMENT.

Termination by City for Default of Consultant
Should Consultant default in the performance of this Agreement or materially breach any of its provisions, at its option, City may terminate this Agreement by giving written notification to Consultant. The termination date shall be the effective date of the notice. For the purposes of this section, material breach of this Agreement shall include, but not be limited to, any of the following: failure to perform required services or duties, willful destruction of City's property by Consultant, dishonesty or theft.

Termination by City for Convenience
The City may also terminate the Consultant's performance under the Agreement, either in whole or in part, at its own discretion, or when conditions encountered during the #5..
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Work make it impossible or impracticable to proceed, or when the City is prevented from proceeding with the Agreement by act of God, by law, or by official action of a public authority, or upon a determination by the City that such termination is in the best interest and convenience of the City, or whenever the City is prohibited from completing the Work for any reason. The City shall provide no less than ten (10) calendar days written notice of its intent to terminate the Agreement for convenience, and shall endeavor to provide the Consultant with consultation with the City prior to termination.

Post-Termination Procedure
Upon receipt of a written notice of termination pursuant to either of the foregoing paragraphs, the Consultant shall:
a. Cease its work as directed in the notice of termination as of the termination date and see to it that its employees, subconsultants and agents are notified of such termination and act as specified in the notice of termination;
b. Terminate all orders and Subcontractors except as necessary to complete any portion of the Work that is not terminated; c. If directed in writing by the City to do so, assign all right, title and interest in subcontracts and materials in progress to City, in which case the City will have the right at its discretion to settle, or pay any or all claims arising out of the termination of such subconsultants, but in no event shall recovery by any Consultant or subconsultant include lost profits for portions of the Work not completed or undertaken, including materials not delivered; #5..
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d. Deliver or otherwise make available to the City all data, drawings, specifications, reports, estimates, summaries and such other information and material as may have been accumulated by the Consultant in performing the Work whether completed or in process; e. Settle outstanding liabilities and claims, subject to the approval of City;
f. Complete performance of such part of the Work as has not been terminated;
g. Take such other actions as may be necessary, or as may be directed by the City for the protection and preservation of the Work and/or property related to the Work;
h. If City so requests, and at City's cost, Consultant shall provide sufficient oral or written status reports to make City reasonably aware of the status of Consultant's work on the project. i. The Consultant understands and agrees that City may, in City's sole discretion, refuse to pay Consultant for that portion of Consultant's services which were performed by Consultant on the project prior to the termination date and which remain
unacceptable and/or not useful to City as of the termination date.

City will pay Consultant an amount based on the percentage of satisfactory work completed in accordance with the notice of termination. The final payment to the Consultant after termination for convenience shall be limited to amounts due and owing under the Agreement at time of termination, including the following:
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a. The cost of settling and paying valid claims arising out of the termination of the Work such as subconsultant agreements or contracts for materials;
b. The Agreement price allocable to the portion of the Work properly performed or goods supplied to the work site by the Consultant as of the date of termination, as determined in accordance with the notice of termination, reduced by any sums previously paid to the Consultant.

Authorization to Terminate Agreement
Termination of the Agreement may be invoked by the City Manager, or his/her designee, subject to the right of the Consultant to appeal the City Manager, or his/her designee’s, decision to the City Council. The Consultant shall appeal by notifying the City Clerk in writing within ten (10) calendar days of receipt of written notification from City of termination of the Agreement. In the event that termination of this Agreement is upheld by the City Council, any cessation of payment of delay claims, extended claims, Eichleay claims, or any other claims for delay shall be retroactive to the date of termination selected by the City Manager, or his/her designee.

16. CERTIFIED PAYROLL REQUIREMENT.

For consultants performing field work on public works contracts on which prevailing wages are required: The Consultant shall comply with the provisions of Section 1776 of the California Labor Code, regarding payroll records, and shall require its subconsultants and subcontractors to comply with that section as may be required by law.

17. INDEMNITY.
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The Consultant 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 Consultant, or its agents, officers, employees, or volunteers relating to or during the performance of its obligations under this Agreement.

Consultant'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 Consultant to procure and maintain a policy of insurance.

18. DISPUTE RESOLUTION.

All claims, controversies, or disputes arising out of, or relating to the formation of this Agreement, or the breach, termination execution, enforcement, interpretation, or validity of this Agreement, including the determination of the scope or applicability of this contract provision shall be determined by binding arbitration in Modesto, California by one arbitrator, except as otherwise specified in this Agreement. The American Arbitration Association shall administer the arbitration under its Arbitration Rules then in effect, subject to the modifications of those rules contained in this paragraph. This agreement to arbitrate shall be specifically enforceable under the prevailing law of any court having jurisdiction, and the award rendered by the arbitrator may be entered in any court having jurisdiction. The appropriate venue for any arbitration or court proceeding relating to or arising out of this provision shall be in Stanislaus County, California.
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This paragraph is not intended to and does not waive the claim filing requirements found in California Government Code section 900 et seq. In the event that a timely and legally sufficient, arbitrable claim is filed by Consultant with City, and the claim is rejected in whole or in part by City, this paragraph shall result in the conclusive, final, and binding resolution of all the issues presented in the claim by Consultant so long as any issues presented by the claim are arbitrable. Claims rejected by City or by operation of law, shall be submitted by Consultant to arbitration pursuant to the Arbitration Rules of the American Arbitration Association within ninety (90) days after mailing of the written rejection by City to Consultant.

Otherwise, the claim or claims shall be deemed waived in their entirety.

The “fast track’ rules of the American Arbitration Association shall apply to any claim or counterclaim less than ONE HUNDRED FIFTY THOUSAND AND 00/100 ($150,000.00) DOLLARS. In arbitration not proceeding under the “fast track” rules, the arbitrator shall have the power to order that depositions be taken and other discovery be made.

Both City and Consultant shall have the right, upon written notice, to take no more than three (3) depositions of the other as a matter of right in an arbitration proceeding under the “fast track” rules.

Whether or not City and Consultant may be engaged in interstate commerce, any controversy or dispute mentioned above shall be determined by, and the parties shall be bound by, the substantive law of the State of California, and not the Federal Arbitration Act at 9 USC Section 1 et seq.

The arbitrator may grant any remedy or relief deemed by the arbitrator just and equitable under the circumstances, whether or not such relief could be awarded in a court of law. The arbitrator shall be empowered to award monetary sanctions against a party for failure #5..
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of cooperation in the arbitration. The arbitrator shall, in written award, allocate all the costs of the arbitration, including the fees of the arbitrator and the reasonable attorney fees of the prevailing party, against the party who did not prevail. The prevailing party shall be the party in whose favor the majority of the central issues in the case are resolved.

Notwithstanding anything in this provision to the contrary, the arbitrator shall have no power to award punitive damages or other damages not measured by the party’s actual damages (excluding litigation costs and fees) against any party. This limitation of the arbitrator’s powers under this Agreement shall not operate as an exclusion of the issue of punitive damages from this Agreement to Arbitrate sufficient to vest jurisdiction in a court with respect to that issue.

Consultant shall include in all subcontracts a specification whereby the subcontractor consents to being joined in arbitration between City and Consultant involving the work of the subcontractor to be joined. Consultant’s failure to do so shall be a breach of this Agreement.

The parties hereby waive any rights provided by Title 9.2 of the California Code of Civil Procedure, Section 1296. The arbitrator’s award shall be deemed final, conclusive and binding to the fullest extent allowed by California law.

19. ENTIRE AGREEMENT.

This Agreement and its exhibits contain the entire understanding between Consultant and City. Additional or new terms contained in this Agreement which vary from Consultant's proposal are controlling and are deemed accepted by Consultant by shipment of any article or other commencement of performance hereunder. All previous proposals, offers and communications relative to this Agreement, whether oral or written, are hereby superseded #5..
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except to the extent that they have been incorporated into this Agreement. No future waiver of or exception to any of the terms, conditions, and provisions of this Agreement shall be considered valid unless specifically agreed to in writing by all the parties.

20. PARTIAL INVALIDITY.

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

21. WAIVER.

The waiver by any party to this Agreement of a breach of any provision hereof shall be in writing and shall not operate or be construed as a waiver of any other or subsequent breach hereof unless specifically stated in writing.

22. AUDIT.

The City's duly authorized representative shall have access at all reasonable times to all reports, contract records, contract documents, contract files, and personnel necessary to audit and verify Consultant's charges to City under this Agreement.

Consultant agrees to retain reports, records, documents, and files related to charges under this Agreement for a period of four (4) years following the date of final payment for Consultant services. City's representative shall have the right to reproduce any of the aforesaid documents.

23. GOVERNING LAW.

This Agreement shall be governed according to the laws of the State of California.
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24. HEADINGS NOT CONTROLLING.

Headings used in the Agreement are for reference purposes only and shall not be considered in construing this Agreement.

25. COMPLIANCE WITH LAWS.

Consultant shall insure compliance with all safety and hourly requirements for employees, in accordance with federal, state, and county safety and health regulations and laws. Consultant shall fully comply with all applicable federal, state, and local laws, ordinances, regulations and permits.

26. CITY BUSINESS LICENSE.

Consultant will have a City of Modesto business license.

IN WITNESS WHEREOF, the City of Modesto, a municipal corporation, has authorized the execution of this Agreement by its City Manager and attestation by its City Clerk under authority of Resolution No. 2024- , adopted by the Council of the City of Modesto on the day of , 2024 and DILLON AND MURPHY ENGINEERING, has caused this agreement to be duly executed as of the Effective Date. #5..
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ON-CALL AGREEMENT FOR

ON-CALL CONSTRUCTION INSPECTION SERVICES FOR VARIOUS CAPITAL

IMPROVEMENT PROJECTS
THIS AGREEMENT, made and entered into in the City of Modesto, State of California, this day of , 2024, (“Effective Date”) by and between the CITY OF MODESTO, a municipal corporation of the State of California, hereinafter referred to as "City", and WEST YOST & ASSOCIATES, a California Corporation, hereinafter referred to as "Consultant".

This Agreement is made with regard to the following recitals:

A. City has determined that there is a need for On-Call Construction Inspection Services for Various Capital Improvement Projects.

B. Consultant represents that it is qualified, willing, and able to provide the requested On-Call Construction Inspection Services.

NOW, THEREFORE, in consideration of this agreement, and the mutual promises, covenants, and stipulations hereinafter contained, the parties agree as follows:

1. SCOPE OF SERVICES.

Specific scope(s) of services to be provided by Consultant shall be further defined by and authorized by City through the issuance of project-specific Task Orders. Each specific Task Order will require a written, scope outlining the specific services to be provided by Consultant, the schedule for completion, and the proposed compensation amount(s) and payment #5..
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methodology to perform the specified services. The City must authorize each Task Order in writing prior to commencement of services by the Consultant.

2. TERM OF AGREEMENT.

City hereby gives Consultant notice to proceed with the provision of services described in Exhibit "A" to this Agreement, as of the Effective Date of this agreement.

Consultant shall diligently proceed with the work and agrees to complete said specific scope(s) of services within the time period set forth in each respective Task Order.

3. COMPENSATION.

Consultant agrees to accept an estimated amount of SEVENTY FOUR THOUSAND FIVE HUNDRED AND 00/100 DOLLARS ($74,500) per year, and a total sum not to exceed TWO HUNDRED TWENTY THREE THOUSAND FIVE HUNDRED AND 00/100 DOLLARS ($223,500) over three years as of the Effective Date as full remuneration for performing all services and furnishing all staffing and materials called for in Exhibit "A”, and subsequent Task Orders, and for performance by Consultant of all of its duties and obligations under this Agreement.
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The Compensation shall be paid pursuant in the manner and at the times set forth below:

4. OBLIGATIONS OF CONSULTANT.

Throughout the term of this Agreement, Consultant shall possess, or secure all licenses, permits, qualifications and approvals legally required to conduct business.

5. PERFORMANCE BY KEY EMPLOYEE.
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Consultant has represented to City that J.P. Davis will be the person primarily responsible for the performance of the services referred to in this Agreement. City has entered into this Agreement in reliance on that representation by Consultant. Consultant therefore agrees that ten percent (10%) or more of the time to be devoted to the project that is the subject of this Agreement will be that of the above-named person.

6. OWNERSHIP OF DOCUMENTS/TITLE TO DATA.

All materials, documents, data or information obtained from the City data files or any City medium furnished to Consultant in the performance of this Agreement will at all times remain the property of the City. Such data or information may not be used or copied for direct or indirect use by Consultant after termination of this Agreement without written consent of the City.

7. NEWS AND INFORMATION RELEASE.
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Consultant agrees that it will not issue any news releases in connection with either the award of this Agreement, or any subsequent amendment of or efforts under this Agreement, without first obtaining review and approval of said news releases from City through the City Manager.

8. INTEREST OF CONTRACTOR.

9. AMENDMENTS.

10. INDEPENDENT CONTRACTOR.

All acts of Consultant, its agents, officers, and employees and all others acting on behalf of Consultant relating to the performance of this Agreement, shall be performed #5..
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as independent contractors and not as agents, officers, or employees of City. Consultant, by virtue of this Agreement, has no authority to bind or incur any obligation on behalf of City.

Consultant has no authority or responsibility to exercise any rights or power vested in the City.

If in the performance of this Agreement any third persons are employed by Consultant, such persons shall be entirely and exclusively under the direction, supervision, and control of Consultant. All terms of employment including hours, wages, working conditions, #5..
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discipline, hiring, and discharging or any other term of employment or requirement of law shall be determined by the Consultant.

It is further understood and agreed that Consultant must issue W-2 forms or other forms as required by law for income and employment tax purposes for all of Consultant's personnel.

11. ASSIGNMENT.

Neither this Agreement nor any portion thereof shall be subcontracted or assigned without the express prior written consent of the City in each and every instance.

12. PATENT/COPYRIGHT MATERIALS.

13. NOTICES.

Notice required by this Agreement shall be given in writing and shall be deemed given and effective upon receipt provided that such are delivered in accordance with the #5..
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provisions of this Section. Notices shall be delivered either by: (a) personal delivery (including delivery by an overnight courier service which obtains confirmation of receipt); or (b) by facsimile, provided that such transmission is followed by delivery by an overnight courier service which obtains confirmation of receipt; or (c) postage prepaid, return receipt requested, certified mail; or (d) by electronic transmission subject to reasonable proof that the notice was both transmitted and received. Each such notice shall be sent to the parties at the address respectively set forth below or to such other address as a party may designate by written notice given in accordance with the provisions of this Section:

FOR CONSULTANT: Name: West Yost & Associates
Address: 8950 Cal Center Drive Building 1
Sacramento, CA 95825
Attention: Charles Duncan
Phone: (530) 792-3220
Email: [email protected]
FOR CITY: Name: City of Modesto
Address: 1010 10th Street, Suite 4600
Modesto, CA 95354
Attention: Pete Kambel
Phone: (209) 577-5348
Email: [email protected]

14. INSURANCE REQUIREMENTS.

The Consultant shall provide at its own expense and maintain at all times the following insurance with insurance companies licensed in the State of California and shall provide evidence of such insurance to the City as may be required by the Risk Manager of the City. The policies or certificates thereof shall provide that, thirty (30) days prior to cancellation #5..
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or material change in the policy, notices of same shall be given to the Risk Manager of the City by certified mail, return receipt requested, for all of the following stated insurance policies.

In the event the certificates of insurance required hereunder do not provide for notice of cancellation to the certificate holder and/or additional insureds, the Consultant shall provide, and shall require its subcontractors to provide, as an express condition precedent to payment hereunder, an endorsement from their insurers providing that the additional insureds identified herein shall be provided 30 days notice of the cancellation on the policies of insurance required hereunder (10 days notice if the policies are cancelled for non-payment of premium). In addition, the named insured on all such policies shall provide to the additional insureds identified herein any notices of cancellation of said insurance policies within 5 business days of receipt of such notice. The Consultant shall, as a further express condition precedent to payment for work performed, affirm under penalty of perjury that the required insurance on the project remains in place and said insurance has not been cancelled.
(a) Worker's Compensation in compliance with the statutes of the State of California, plus employer's liability with a minimum limit of liability of $1,000,000. (b) General Liability insurance with a minimum limit of liability per occurrence of $1,000,000 for bodily injury and property damage. If Commercial General Liability Insurance or other form 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.
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(c) Automobile Liability insurance with a minimum limit of liability per occurrence of $1,000,000 for bodily injury and property damage. This insurance shall cover any automobile for bodily injury and property damage.
(d) Professional Liability insurance with a minimum limit of $1,000,000 per claim and policy aggregate. If coverage is on a claims made basis it shall be maintained for at least three (3) years following completion of the work.

Failure of the Consultant to obtain and/or maintain any required insurance shall not relieve the Consultant from any liability under this Agreement, nor shall the insurance requirements be construed to conflict with or otherwise limit the obligations of the Consultant concerning indemnification. The City, its agents, officers, employees, and volunteers shall be named as an additional insured on all insurance policies required herein, except Workers' Compensation and Professional Liability. The Workers' Compensation insurer shall agree to waive all rights of subrogation against the City, its agents, officers, employees, and volunteers for losses arising from work performed by Consultant for the City. The Consultant's insurance policy(ies) shall include a provision that the coverage is primary as respects the City; shall include no special limitations to coverage provided to additional insured; and, shall be placed with insurer(s) with acceptable Best's rating of A:VII or with approval of the Risk Manager. The Consultant must #5..
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deliver certificates evidencing existence of the insurance listed above to the City prior to the time the contract is signed.

15. TERMINATION OF AGREEMENT.

Termination by City for Convenience
The City may also terminate the Consultant's performance under the Agreement, either in whole or in part, at its own discretion, or when conditions encountered during the #5..
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Work make it impossible or impracticable to proceed, or when the City is prevented from proceeding with the Agreement by act of God, by law, or by official action of a public authority, or upon a determination by the City that such termination is in the best interest and convenience of the City, or whenever the City is prohibited from completing the Work for any reason. The City shall provide no less than ten (10) calendar days written notice of its intent to terminate the Agreement for convenience, and shall endeavor to provide the Consultant with consultation with the City prior to termination.

Post-Termination Procedure
Upon receipt of a written notice of termination pursuant to either of the foregoing paragraphs, the Consultant shall:
a. Cease its work as directed in the notice of termination as of the termination date and see to it that its employees, subconsultants and agents are notified of such termination and act as specified in the notice of termination;
b. Terminate all orders and Subcontractors except as necessary to complete any portion of the Work that is not terminated; c. If directed in writing by the City to do so, assign all right, title and interest in subcontracts and materials in progress to City, in which case the City will have the right at its discretion to settle, or pay any or all claims arising out of the termination of such subconsultants, but in no event shall recovery by any Consultant or subconsultant include lost profits for portions of the Work not completed or undertaken, including materials not delivered; #5..
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d. Deliver or otherwise make available to the City all data, drawings, specifications, reports, estimates, summaries and such other information and material as may have been accumulated by the Consultant in performing the Work whether completed or in process; e. Settle outstanding liabilities and claims, subject to the approval of City;
f. Complete performance of such part of the Work as has not been terminated;
g. Take such other actions as may be necessary, or as may be directed by the City for the protection and preservation of the Work and/or property related to the Work;
h. If City so requests, and at City's cost, Consultant shall provide sufficient oral or written status reports to make City reasonably aware of the status of Consultant's work on the project. i. The Consultant understands and agrees that City may, in City's sole discretion, refuse to pay Consultant for that portion of Consultant's services which were performed by Consultant on the project prior to the termination date and which remain
unacceptable and/or not useful to City as of the termination date.

City will pay Consultant an amount based on the percentage of satisfactory work completed in accordance with the notice of termination. The final payment to the Consultant after termination for convenience shall be limited to amounts due and owing under the Agreement at time of termination, including the following:
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a. The cost of settling and paying valid claims arising out of the termination of the Work such as subconsultant agreements or contracts for materials;
b. The Agreement price allocable to the portion of the Work properly performed or goods supplied to the work site by the Consultant as of the date of termination, as determined in accordance with the notice of termination, reduced by any sums previously paid to the Consultant.

16. CERTIFIED PAYROLL REQUIREMENT.

17. INDEMNITY.
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The Consultant 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 Consultant, or its agents, officers, employees, or volunteers relating to or during the performance of its obligations under this Agreement.

18. DISPUTE RESOLUTION.

All claims, controversies, or disputes arising out of, or relating to the formation of this Agreement, or the breach, termination execution, enforcement, interpretation, or validity of this Agreement, including the determination of the scope or applicability of this contract provision shall be determined by binding arbitration in Modesto, California by one arbitrator, except as otherwise specified in this Agreement. The American Arbitration Association shall administer the arbitration under its Arbitration Rules then in effect, subject to the modifications of those rules contained in this paragraph. This agreement to arbitrate shall be specifically enforceable under the prevailing law of any court having jurisdiction, and the award rendered by the arbitrator may be entered in any court having jurisdiction. The appropriate venue for any arbitration or court proceeding relating to or arising out of this provision shall be in Stanislaus County, California.
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This paragraph is not intended to and does not waive the claim filing requirements found in California Government Code section 900 et seq. In the event that a timely and legally sufficient, arbitrable claim is filed by Consultant with City, and the claim is rejected in whole or in part by City, this paragraph shall result in the conclusive, final, and binding resolution of all the issues presented in the claim by Consultant so long as any issues presented by the claim are arbitrable. Claims rejected by City or by operation of law, shall be submitted by Consultant to arbitration pursuant to the Arbitration Rules of the American Arbitration Association within ninety (90) days after mailing of the written rejection by City to Consultant.

Otherwise, the claim or claims shall be deemed waived in their entirety.

The arbitrator may grant any remedy or relief deemed by the arbitrator just and equitable under the circumstances, whether or not such relief could be awarded in a court of law. The arbitrator shall be empowered to award monetary sanctions against a party for failure #5..
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of cooperation in the arbitration. The arbitrator shall, in written award, allocate all the costs of the arbitration, including the fees of the arbitrator and the reasonable attorney fees of the prevailing party, against the party who did not prevail. The prevailing party shall be the party in whose favor the majority of the central issues in the case are resolved.

19. ENTIRE AGREEMENT.

This Agreement and its exhibits contain the entire understanding between Consultant and City. Additional or new terms contained in this Agreement which vary from Consultant's proposal are controlling and are deemed accepted by Consultant by shipment of any article or other commencement of performance hereunder. All previous proposals, offers and communications relative to this Agreement, whether oral or written, are hereby superseded #5..
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except to the extent that they have been incorporated into this Agreement. No future waiver of or exception to any of the terms, conditions, and provisions of this Agreement shall be considered valid unless specifically agreed to in writing by all the parties.

20. PARTIAL INVALIDITY.

21. WAIVER.

22. AUDIT.

23. GOVERNING LAW.

This Agreement shall be governed according to the laws of the State of California.
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24. HEADINGS NOT CONTROLLING.

Headings used in the Agreement are for reference purposes only and shall not be considered in construing this Agreement.

25. COMPLIANCE WITH LAWS.

26. CITY BUSINESS LICENSE.

Consultant will have a City of Modesto business license.

IN WITNESS WHEREOF, the City of Modesto, a municipal corporation, has authorized the execution of this Agreement by its City Manager and attestation by its City Clerk under authority of Resolution No. 2024- , adopted by the Council of the City of Modesto on the day of , 2024 and WEST YOST & ASSOCIATES, has caused this agreement to be duly executed as of the Effective Date. #5..
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ON-CALL AGREEMENT FOR

ON-CALL CONSTRUCTION INSPECTION SERVICES FOR VARIOUS CAPITAL

IMPROVEMENT PROJECTS
THIS AGREEMENT, made and entered into in the City of Modesto, State of California, this day of , 2024, (“Effective Date”) by and between the CITY OF MODESTO, a municipal corporation of the State of California, hereinafter referred to as "City", and TRC ENGINEERS, INC., a California Corporation, hereinafter referred to as "Consultant".

This Agreement is made with regard to the following recitals:

A. City has determined that there is a need for On-Call Construction Inspection Services for Various Capital Improvement Projects.

B. Consultant represents that it is qualified, willing, and able to provide the requested On-Call Construction Inspection Services.

NOW, THEREFORE, in consideration of this agreement, and the mutual promises, covenants, and stipulations hereinafter contained, the parties agree as follows:

1. SCOPE OF SERVICES.

Specific scope(s) of services to be provided by Consultant shall be further defined by and authorized by City through the issuance of project-specific Task Orders. Each specific Task Order will require a written, scope outlining the specific services to be provided by Consultant, the schedule for completion, and the proposed compensation amount(s) and payment #5..
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methodology to perform the specified services. The City must authorize each Task Order in writing prior to commencement of services by the Consultant.

2. TERM OF AGREEMENT.

City hereby gives Consultant notice to proceed with the provision of services described in Exhibit "A" to this Agreement, as of the Effective Date of this agreement.

Consultant shall diligently proceed with the work and agrees to complete said specific scope(s) of services within the time period set forth in each respective Task Order. Notwithstanding the foregoing, in no event will Consultant be responsible for damages or considered in default due to delays beyond Consultant’s reasonable control.

3. COMPENSATION.

Consultant agrees to accept an estimated amount of SEVENTY FOUR THOUSAND FIVE HUNDRED AND 00/100 DOLLARS ($74,500) per year, and a total sum not to exceed TWO HUNDRED TWENTY THREE THOUSAND FIVE HUNDRED AND 00/100 DOLLARS ($223,500) over three years as of the Effective Date as full remuneration for performing all services and furnishing all staffing and materials called for in Exhibit "A”, and #5..
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subsequent Task Orders, and for performance by Consultant of all of its duties and obligations under this Agreement.

The Compensation shall be paid pursuant in the manner and at the times set forth below:

4. OBLIGATIONS OF CONSULTANT.

Throughout the term of this Agreement, Consultant shall possess, or secure all licenses, permits, qualifications and approvals legally required to conduct business.

Consultant warrants that it has all of the necessary professional capabilities and experience, as well as all tools, instrumentalities, facilities and other resources necessary to provide the City with the services contemplated by this Agreement. Consultant will follow the current, generally accepted and professional practices to make findings, render opinions, prepare factual presentations, and provide professional advice and recommendations regarding this project. #5..
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5. PERFORMANCE BY KEY EMPLOYEE.

Consultant has represented to City that Justin Wehling will be the person primarily responsible for the performance of the services referred to in this Agreement. City has entered into this Agreement in reliance on that representation by Consultant. Consultant therefore agrees that ten percent (10%) or more of the time to be devoted to the project that is the subject of this Agreement will be that of the above-named person.

6. OWNERSHIP OF DOCUMENTS/TITLE TO DATA.

Ownership of Documents
All reports, drawings, designs, graphics, working papers and other incidental work or materials furnished hereunder shall become and remain the property of the City, and may be used by City as it may require without any additional cost to City. However, in the event City reuses or modifies any materials furnished to City by Consultant, without Contractor’s involvement or consent, then Consultant shall not be responsible for the materials.

No reports shall be used by the Consultant for purposes other than this contract without the express prior written consent of City.

All materials, documents, data or information obtained from the City data files or any City medium furnished to Consultant in the performance of this Agreement will at all times remain the property of the City. Notwithstanding anything to the contrary in this #5..
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Agreement, data and materials are not intended nor shall they be construed to include Consultant’s pre-existing intellectual property secured, developed, written, or produced by Consultant prior to execution of this Agreement or developed concurrently with this Agreement but not specifically for this Agreement; Consultant shall retain all right, title and interest in any such pre-existing intellectual property. Such data or information may not be used or copied for direct or indirect use by Consultant after termination of this Agreement without written consent of the City.

7. NEWS AND INFORMATION RELEASE.

Consultant agrees that it will not issue any news releases in connection with either the award of this Agreement, or any subsequent amendment of or efforts under this Agreement, without first obtaining review and approval of said news releases from City through the City Manager.

8. INTEREST OF CONTRACTOR.

9. AMENDMENTS.

Both parties to this Agreement understand that it may become desirable or necessary during the execution of this Agreement, for City or Consultant to modify the scope of services provided for under this Agreement. Any material extension or change in the scope of #5..
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work shall be discussed with City and the change and cost shall be memorialized in a written amendment to the original contract prior to the performance of the additional work.

10. INDEPENDENT CONTRACTOR.

All acts of Consultant, its agents, officers, and employees and all others acting on behalf of Consultant relating to the performance of this Agreement, shall be performed as independent contractors and not as agents, officers, or employees of City. Consultant, by virtue of this Agreement, has no authority to bind or incur any obligation on behalf of City.

Consultant has no authority or responsibility to exercise any rights or power vested in the City.

Consultant shall determine the method, details and means of performing the work and services to be provided by Consultant under this Agreement. Consultant shall be responsible to City only for the requirements and results specified in this Agreement, and, except as expressly provided in this Agreement, shall not be subjected to City's control with respect to the physical action or activities of the Consultant in fulfillment of this Agreement. Consultant has control over the manner and means of performing the services under this Agreement. #5..
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Consultant is permitted to provide services to others during the same period service is provided to City under this Agreement. If necessary, Consultant has the responsibility for employing other persons or firms to assist Consultant in fulfilling the terms and obligations under this Agreement.

If in the performance of this Agreement any third persons are employed by Consultant, such persons shall be entirely and exclusively under the direction, supervision, and control of Consultant. All terms of employment including hours, wages, working conditions, discipline, hiring, and discharging or any other term of employment or requirement of law shall be determined by the Consultant.

It is further understood and agreed that Consultant must issue W-2 forms or other forms as required by law for income and employment tax purposes for all of Consultant's personnel.

11. ASSIGNMENT.

Neither this Agreement nor any portion thereof shall be subcontracted or assigned without the express prior written consent of the City in each and every instance.

12. PATENT/COPYRIGHT MATERIALS.
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Unless otherwise expressly provided in the contract, Consultant shall be solely responsible for obtaining the right to use any patented or copyrighted materials in the performance of this Agreement. Consultant shall furnish a warranty of such right to use to City at the request of City.

13. NOTICES.

Notice required by this Agreement shall be given in writing and shall be deemed given and effective upon receipt provided that such are delivered in accordance with the provisions of this Section. Notices shall be delivered either by: (a) personal delivery (including delivery by an overnight courier service which obtains confirmation of receipt); or (b) by facsimile, provided that such transmission is followed by delivery by an overnight courier service which obtains confirmation of receipt; or (c) postage prepaid, return receipt requested, certified mail; or (d) by electronic transmission subject to reasonable proof that the notice was both transmitted and received. Each such notice shall be sent to the parties at the address respectively set forth below or to such other address as a party may designate by written notice given in accordance with the provisions of this Section:

FOR CONSULTANT: Name: TRC Engineers, Inc.

Address: 183 D’Arcy
Lathrop, CA., 95330
Attention: Dustin Rath, Lincoln Leaman
Phone: (707) 291-2681, (916) 995-6572
Email: [email protected], [email protected]
FOR CITY: Name: City of Modesto
Address: 1010 10th Street, Suite 4600
Modesto, CA., 95354
Attention: Pete Kambel
Phone: (209) 577-5348
Email: [email protected]
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14. INSURANCE REQUIREMENTS.

The Consultant shall provide at its own expense and maintain at all times the following insurance with insurance companies licensed in the State of California and shall provide evidence of such insurance to the City as may be required by the Risk Manager of the City. The policies or certificates thereof shall provide that, thirty (30) days prior to cancellation or material change in the policy, notices of same shall be given to the Risk Manager of the City by certified mail, return receipt requested, for all of the following stated insurance policies.

In the event the certificates of insurance required hereunder do not provide for notice of cancellation to the certificate holder and/or additional insureds, the Consultant shall provide, and shall require its subcontractors to provide, as an express condition precedent to payment hereunder, an endorsement from their insurers providing that the additional insureds identified herein shall be provided 30 days notice of the cancellation on the policies of insurance required hereunder (10 days notice if the policies are cancelled for non-payment of premium). In addition, the named insured on all such policies shall provide to the additional insureds identified herein any notices of cancellation of said insurance policies within 5 business days of receipt of such notice. The Consultant shall, as a further express condition precedent to payment for work performed, affirm under penalty of perjury that the required insurance on the project remains in place and said insurance has not been cancelled.
(a) Worker's Compensation in compliance with the statutes of the State of California, plus employer's liability with a minimum limit of liability of $1,000,000. (b) General Liability insurance with a minimum limit of liability per occurrence of $1,000,000 for bodily injury and property damage. If Commercial General #5..
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Liability Insurance or other form 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.
(c) Automobile Liability insurance with a minimum limit of liability per occurrence of $1,000,000 for bodily injury and property damage. This insurance shall cover any automobile for bodily injury and property damage.
(d) Professional Liability insurance with a minimum limit of $1,000,000 per claim and policy aggregate. If coverage is on a claims made basis it shall be maintained for at least three (3) years following completion of the work.

Failure of the Consultant to obtain and/or maintain any required insurance shall not relieve the Consultant from any liability under this Agreement, nor shall the insurance requirements be construed to conflict with or otherwise limit the obligations of the Consultant concerning indemnification. The City, its agents, officers, and employees shall be named as an additional insured on all insurance policies required herein, except Workers' Compensation and #5..
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Professional Liability. The Workers' Compensation insurer shall agree to waive all rights of subrogation against the City, its agents, officers, and employees for losses arising from work performed by Consultant for the City. The Consultant's insurance policy(ies) shall include a provision that the coverage is primary as respects the City; shall include no special limitations to coverage provided to additional insured; and, shall be placed with insurer(s) with acceptable Best's rating of A:VII or with approval of the Risk Manager. The Consultant must deliver certificates evidencing existence of the insurance listed above to the City prior to the time the contract is signed.

For any claims related to this project, the CONSULTANT’S insurance coverage shall be primary insurance as respects the Entity, its officers, officials, and employees.

Any insurance or self-insurance maintained by the Entity, its officers, officials, or employees shall be excess of the CONSULTANT’S insurance and shall not contribute with it.

15. TERMINATION OF AGREEMENT.

Termination by City for Default of Consultant
Should Consultant default in the performance of this Agreement or materially breach any of its provisions, at its option, City may terminate this Agreement by giving written notification to Consultant provided that Consultant has not commenced to cure the breach or non-conforming Services within a reasonable amount of time, not to exceed seven (7) #5..
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business days of Consultants notice of such breach or non-conformance. The termination date shall be the effective date of the notice. For the purposes of this section, material breach of this Agreement shall include, but not be limited to, any of the following: failure to perform required services or duties, willful destruction of City's property by Consultant, dishonesty or theft.

Termination by City for Convenience
The City may also terminate the Consultant's performance under the Agreement, either in whole or in part, at its own discretion, or when conditions encountered during the Work make it impossible or impracticable to proceed, or when the City is prevented from proceeding with the Agreement by act of God, by law, or by official action of a public authority, or upon a determination by the City that such termination is in the best interest and convenience of the City, or whenever the City is prohibited from completing the Work for any reason. The City shall provide no less than ten (10) calendar days written notice of its intent to terminate the Agreement for convenience, and shall endeavor to provide the Consultant with consultation with the City prior to termination.

Post-Termination Procedure
Upon receipt of a written notice of termination pursuant to either of the foregoing paragraphs, the Consultant shall:
a. Cease its work as directed in the notice of termination as of the termination date and see to it that its employees, subconsultants and agents are notified of such termination and act as specified in the notice of termination;
a. Terminate all orders and Subcontractors, as reasonably applicable except as necessary to complete any portion of the Work that is not terminated; #5..
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b. If directed in writing by the City to do so, assign all right, title and interest in subcontracts and materials in progress to City, and upon full compensation therefor, in which case the City will have the right at its discretion to settle, or pay any or all claims arising out of the termination of such subconsultants, but in no event shall recovery by any Consultant or subconsultant include lost profits for portions of the Work not completed or undertaken, including materials not delivered;
c. Deliver or otherwise make available to the City all data, drawings, specifications, reports, estimates, summaries and such other information and material as may have been accumulated by the Consultant in performing the Work whether completed or in process and that Consultant has been fully compensated for;
d. Settle outstanding liabilities and claims, subject to the approval of City;
e. Complete performance of such part of the Work as has not been terminated;
f. Take such other actions as may be necessary, or as may be directed by the City for the protection and preservation of the Work and/or property related to the Work;
g. If City so requests, and at City's cost, Consultant shall provide sufficient oral or written status reports to make City reasonably aware of the status of Consultant's work on the project. #5..
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h. The Consultant understands and agrees that City may, in City's sole discretion, refuse to pay Consultant for that portion of Consultant's services which were performed by Consultant on the project prior to the termination date and which remain
unacceptable and/or not useful to City as of the termination date.

City will pay Consultant an amount based on the percentage of satisfactory work completed in accordance with the notice of termination. The final payment to the Consultant after termination for convenience shall be limited to amounts due and owing under the Agreement at time of termination, including the following:
a. The cost of settling and paying valid claims arising out of the termination of the Work such as subconsultant agreements or contracts for materials;
b. The Agreement price allocable to the portion of the Work properly performed or goods supplied to the work site by the Consultant as of the date of termination, as determined in accordance with the notice of termination, reduced by any sums previously paid to the Consultant.

Authorization to Terminate Agreement
Termination of the Agreement may be invoked by the City Manager, or his/her designee, subject to the right of the Consultant to appeal the City Manager, or his/her designee’s, decision to the City Council. The Consultant shall appeal by notifying the City Clerk in writing within ten (10) calendar days of receipt of written notification from City of termination of the Agreement. In the event that termination of this Agreement is upheld by the #5..
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City Council, any cessation of payment of delay claims, extended claims, Eichleay claims, or any other claims for delay shall be retroactive to the date of termination selected by the City Manager, or his/her designee.

16. CERTIFIED PAYROLL REQUIREMENT.

17. INDEMNITY.

The Consultant shall hold the City, its agents, officers, and employees, 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 or caused by any negligent or intentional act or omission of Consultant, or its agents, officers, employees, or volunteers relating to or during the performance of its obligations under this Agreement. To the fullest extent permitted under applicable law, neither party shall be liable to the other party for special, indirect, consequential, punitive or exemplary damages.

18. DISPUTE RESOLUTION.
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All claims, controversies, or disputes arising out of, or relating to the formation of this Agreement, or the breach, termination execution, enforcement, interpretation, or validity of this Agreement, including the determination of the scope or applicability of this contract provision shall be determined by binding arbitration in Modesto, California by one arbitrator, except as otherwise specified in this Agreement. The American Arbitration Association shall administer the arbitration under its Arbitration Rules then in effect, subject to the modifications of those rules contained in this paragraph. This agreement to arbitrate shall be specifically enforceable under the prevailing law of any court having jurisdiction, and the award rendered by the arbitrator may be entered in any court having jurisdiction. The appropriate venue for any arbitration or court proceeding relating to or arising out of this provision shall be in Stanislaus County, California.

This paragraph is not intended to and does not waive the claim filing requirements found in California Government Code section 900 et seq. In the event that a timely and legally sufficient, arbitrable claim is filed by Consultant with City, and the claim is rejected in whole or in part by City, this paragraph shall result in the conclusive, final, and binding resolution of all the issues presented in the claim by Consultant so long as any issues presented by the claim are arbitrable. Claims rejected by City or by operation of law, shall be submitted by Consultant to arbitration pursuant to the Arbitration Rules of the American Arbitration Association within ninety (90) days after mailing of the written rejection by City to Consultant.

Otherwise, the claim or claims shall be deemed waived in their entirety.

The “fast track’ rules of the American Arbitration Association shall apply to any claim or counterclaim less than ONE HUNDRED FIFTY THOUSAND AND 00/100 ($150,000.00) DOLLARS. In arbitration not proceeding under the “fast track” rules, the #5..
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arbitrator shall have the power to order that depositions be taken and other discovery be made.

The arbitrator may grant any remedy or relief deemed by the arbitrator just and equitable under the circumstances, whether or not such relief could be awarded in a court of law. The arbitrator shall be empowered to award monetary sanctions against a party for failure of cooperation in the arbitration. The arbitrator shall, in written award, allocate all the costs of the arbitration, including the fees of the arbitrator and the reasonable attorney fees of the prevailing party, against the party who did not prevail. The prevailing party shall be the party in whose favor the majority of the central issues in the case are resolved.

Consultant shall include in all subcontracts a specification whereby the subcontractor consents to being joined in arbitration between City and Consultant involving the #5..
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work of the subcontractor to be joined. Consultant’s failure to do so shall be a breach of this Agreement.

19. ENTIRE AGREEMENT.

This Agreement and its exhibits contain the entire understanding between Consultant and City. Additional or new terms contained in this Agreement which vary from Consultant's proposal are controlling and are deemed accepted by Consultant by shipment of any article or other commencement of performance hereunder. All previous proposals, offers and communications relative to this Agreement, whether oral or written, are hereby superseded except to the extent that they have been incorporated into this Agreement. No future waiver of or exception to any of the terms, conditions, and provisions of this Agreement shall be considered valid unless specifically agreed to in writing by all the parties.

20. PARTIAL INVALIDITY.

21. WAIVER.

22. AUDIT.
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The City's duly authorized representative shall have access at all reasonable times to all reports, contract records, contract documents, contract files, and personnel necessary to audit and verify Consultant's charges to City under this Agreement.

Notwithstanding the foregoing, City’s right to audit shall not extend to Consultant’s overhead, markups, profit/loss information, fixed rates, unit prices, prices expressed as percentages or any trade secrets.

23. GOVERNING LAW.

This Agreement shall be governed according to the laws of the State of California.
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24. HEADINGS NOT CONTROLLING.

Headings used in the Agreement are for reference purposes only and shall not be considered in construing this Agreement.

25. COMPLIANCE WITH LAWS.

26. CITY BUSINESS LICENSE.

Consultant will have a City of Modesto business license.

IN WITNESS WHEREOF, the City of Modesto, a municipal corporation, has authorized the execution of this Agreement by its City Manager and attestation by its City Clerk under authority of Resolution No. 2024- , adopted by the Council of the City of Modesto on the day of , 2024 and TRC ENGINEERS, INC., has caused this agreement to be duly executed as of the Effective Date.
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CITY OF MODESTO – RFQ 2024-04
Exhibit "A"
ATTACHMENT 1

MASTER SCOPE OF SERVICES
Task 1: Pre-Construction Services

1.1. Review Contract Documents

1.2. Project Review Meetings and Correspondence
Task 2: Construction Phase Services

2.1. Pre-Construction Conference

2.2. Permits, Other Agency Coordination and Public Relations

2.3. Photograph and Video Records

2.4. Document Control, Reporting and Management

2.5. Project Progress Meetings and Correspondence

2.6. Construction Inspection Services

2.7. Labor Compliance Monitoring

2.8. Special Inspection and Materials Testing Services

2.9. Construction Progress Payments

2.10. On-Site Construction Management

2.11. Construction Progress Schedule Review and Analysis

2.12. Contract Change Order Review and Analysis

2.13. Potential Claims Review and Analysis

2.14. Other duties as requested and related to construction management and inspection services
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CITY OF MODESTO – RFQ 2024-04
Task 3: Post Construction Services

3.1. Closeout Documents and Services

3.2. Punch List Coordination

3.3. Claim Mitigation

3.4. Record Drawings

3.5. Warranty
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CITY OF MODESTO – RFQ 2024-04
Exhibit "B"
ATTACHMENT 2

FEE SCHEDULE
January 2024
$/Hr
PRINCIPAL ENGINEER * $ 240.00
STRUCTURAL ENGINEER * $ 300.00
SR. ENGINEER * $ 210.00
RESIDENT ENGINEER * $ 210.00
ASSOCIATE ENGINEER * $ 180.00
JR. ENGINEER * $ 150.00
ENGINEERING AID * $ 120.00
COMPUTER TECHNICIAN * $ 140.00
LICENSED SURVEYOR ** $ 210.00
ASSISTANT RESIDENT ENGINEER * $ 168.00
ONE MAN SURVEY CREW WITH GPS ** $ 220.00
TWO-MAN SURVEY CREW** $ 272.00
TWO-MAN SURVEY CREW PREVAILING WAGE ** $ 308.00
THREE-MAN SURVEY CREW ** $ 300.00
CONSTRUCTION MANAGER * $ 210.00
CONSTRUCTION INSPECTOR ** $ 160.00
CONSTRUCTION INSPECTOR PREVAILING WAGE ** $ 188.00
CONSTRUCTION INSPECTOR PREVAILING WAGE OVERTIME (11/2) ** $ 244.00 CONSTRUCTION INSPECTOR PREVAILING WAGE OVER TIME (2) ** $ 310.00 SCHEDULER * $ 150.00
ADMINISTRATIVE ASSISTANT * $ 100.00
COURT APPEARANCE(1 DAY MINIMUM) * $ 4,000.00/DAY
* 3.5% increase per year. Increase is implemented January 1st of each year. ** Surveyor and Inspector rates are billed at contemporary DIR Prevailing Wage Rates. #5..
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EXHIBIT A – SCOPE OF SERVICES
City of Modesto On-Call Construction Management and Inspection Services West Yost - Construction Management & Inspection (CM&I) Scope of Services The City of Modesto (City) may need the full scope of services from a full time Construction Manager and/or Construction Inspector on a project-by-project basis. Other projects may require only a part time Construction Manager and/or Construction Inspector. In other cases, only a full time or part time inspector may be required. At times, projects and permits, in whole or part, may require night work and/or weekend work.

As a selected firm to the City’s pre-qualified on-call list for construction management and inspection services, the scope of services to be provided by West Yost for water and wastewater infrastructure related projects on an as-needed basis may include:

Pre-Construction Services
Review of Contract Documents / Project Review Meeting and Correspondence – West Yost will provide pre-construction services including attending the pre-bid job walk, work with the Design Team to provide bidder question responses, assist with bid review and tabulation, and provide front-end specification review and input. The CM team will also organize the review of the apparent low bid contractor’s escrow bid documents (EBDs) to confirm that all the pertinent information is received that comprises the complete cost estimate for the project.

Construction Phase Services
Pre-Construction Conference / NTP – West Yost will attend the preconstruction conference conducted by the City. Open items will be carried over to the first Progress Meeting. West Yost will prepare the construction contract Notice to Proceed (NTP), review it with the City, and issue to the general contractor (GC). Deliverable: Prepare and issue NTP.

Permits, Other Agency Coordination and Public Relations:

West Yost will maintain a permit inventory and tracking log that will monitor compliance with each permit applicable to the construction project. Any reporting required by the permit will be prepared and transmitted to the permitting agency via email. West Yost will coordinate with other agencies as-needed to facilitate progress of the project and will work in close collaboration with the City staff to support the City’s public outreach program as it relates to each project assigned to West Yost. Deliverable: Update the permit tracking log, responses to the SWPPP reviews, and inspection reports needed to comply with individual permit requirements.

Photograph and Video Records: The CM and Inspector will walk the project site with the GC during the preconstruction period to photograph the existing conditions prior to the start of the construction work. This will document the existing conditions to determine if something was damaged or not adequately restored during and after construction. During construction, the inspector will take photographs to document project progress, issues requiring resolution, and once the project is complete, post-construction conditions. Deliverable: Photographs and video #5..
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recordings of the existing conditions of the project site prior to construction activities, during and post-construction.

Project Progress Meetings and Correspondence / Document Control – West Yost will prepare agendas, conduct the weekly progress meetings with the contractor, design consultant, City staff, and other members of the project team to review overall progress, coordination, and communication related to safety, submittals, RFIs, changes, progress payments, coordination with plant operations, progress schedules, and quality. If other special meetings are necessary, West Yost will conduct and collect summaries of the discussions. Open items will be tracked to completion. The meetings will be documented in eBuilder. Deliverables: Prepare the agendas and current logs for the meeting and prep/issue meeting minutes, logs, and the contractor’s look-ahead schedule.

West Yost will be the point of contact for all matters related to the administration of the construction contract with the GC selected for the project. All incoming and outgoing correspondence related to the project will be through the West Yost CM. This includes maintaining the project records in the web-based document control system – eBuilder, provided by the City. Deliverables: Preparation of all outgoing correspondence such as letters, memos, submittal reviews, RFI responses, RFPs, change orders, progress payments, etc. that are generated within the web-based document control system – eBuilder.

Construction Inspection Services – West Yost will provide as-needed day-to-day quality assurance inspection of the GC’s performance of the work. This will include confirming compliance with the contract plans, specs, approved submittals, applicable RFI responses, and approved change orders.

If work is observed or tested to be in non-compliance with the contract a verbal notice followed by a Non-Compliance Notice (NCN) will be issued to the GC. If an NCN is issued a corresponding payment value will be withheld on the monthly progress payment until the issue is satisfactorily resolved. Daily inspection reports will be written and kept in the eBuilder. The reports will contain a summary of the work performed, important discussions needing to be documented, and photos of the work performed. The overall quality requirements of the contract will be emphasized to the GC with pre-activity quality control meetings where we will review the planned work, contract requirements, submittals, RFIs, and change orders to confirm everyone understands what will be built and how it will be built. Also, the GC will be asked to explain their means and methods (M&Ms) so the group can ascertain whether the required quality can be achieved with those M&Ms. Assumptions: Special Inspection and Materials Testing Services to be provided by the City and coordination of these activities will be performed by West Yost.

Deliverables: Photo documentation of existing site conditions, response to the contractor’s overall QC plan and individual QC plans, concrete testing reports, special inspection reports, onsite inspector daily reports, non-compliance notices, stop notices – when appropriate, and a running QC Deficiencies report.

Labor Compliance Monitoring – West Yost will confirm each month that the GC has submitted its certified payroll reports. Spot checks will be made to confirm that craft labor is appropriately classified and are being compensated with the correct wage rate(s). As part of this periodic review, West Yost will perform interviews with the craft labor as part of the requirements established by the State Department of Industrial Relations. Any discrepancies discovered will be #5..
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brought to the attention of the GC. If action to respond is slow or non-existent, then subsequent progress payment withholds will be applied until the matter is resolved. Deliverables: Perform labor compliance interviews and provide backup materials to the City when requested.

Construction Progress Payments – West Yost will review the updated/statused Schedule of Values (SOV), compare the statused amounts identified by the GC and either accept the value assigned or negotiate a different amount. A summary document will be prepared and signed off by the West Yost CM and the GC certifying the amount due. The payment request will be transmitted to the City for approval, processing and payment. West Yost will track payment to the GC to demonstrate compliance with the payment processing times per the public contract code.

Included in this task will be to confirm that the GC has submitted the certified payroll reports to the City. Deliverables: Review and negotiate the status of progress for the preparation of the monthly progress payments, prepare the monthly progress payments with signatures for continued processing by the City, perform labor compliance interviews, confirm receipt of contractor’s certified payroll reports, and provide Bid Item Payment Sheets.

On-Site Construction Management – West Yost will perform on-site construction management services including coordination of construction documentation such as RFIs, submittals, etc.

RFIs – West Yost will receive all RFIs generated and issued by the construction contractor and will be initially reviewed by West Yost then forwarded to the design consultant. Responses by the design consultant will be reviewed for completeness and if found satisfactory, the RFI will be returned to the contractor. If the response appears to have changed the contract scope, quality, or time a potential change order (PCO) number will be assigned and used to track its resolution to closeout. Logs will be generated and be discussed during the weekly change order meetings.

Deliverables: Make final edits to the response which may include information on forthcoming change orders or field directives and update the RFI log weekly.

Submittals – West Yost will receive all shop drawings, product data, certifications, work plans, schedules, etc. that are typically required of construction contracts and will upload them into the DCS. The submittals that are related to the design shall be forwarded to the design consultant for their review and comment. Once the design consultant completes their review they will forward their comments to West Yost. We will input the review comments into the DCS and formally return the submittal to the GC. Logs will be maintained showing submittals in for review, submittals that have been returned with Amend and Resubmit status, and submittals not yet transmitted by the GC. Construction related submittals such as work plans, safety plans, stormwater pollution control plans, shoring plans, etc. will be reviewed by West Yost with the submittal and comments transmitted to the design consultant for their records. Deliverables:

Collate the review comments received by the Design Engineer and/or Plant O&M staff and return to the contractor. Prepare logs of current submittals in review and submittals needing to be resubmitted.

Construction Progress Schedule Review and Analysis – West Yost will review the GC’s baseline CPM schedule and monthly updates to confirm that depiction of the schedules meets the contract scheduling requirements and is adequately updated each month with correct progress, adjustments, changes, and summaries. If there are challenges/delays in obtaining an acceptable #5..
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schedule from the GC, West Yost will recommend that an appropriately valued withhold to subsequent progress payments applied to motivate the GC in corrective action. If during tracking of performance the schedule appears to be slipping behind, a Recovery Schedule will be requested from the GC and as part of this issue will be determining the responsible party for the delay.

Included in this scope will be the preparation and issuance of the Weekly Statement of Working Days report that identifies the conditions of each day’s work, weather or other impacts beyond the control of the GC and any time extensions that were authorized in a change order or from weather impacts. Deliverables: Prep and issue the Weekly Statement of Working Days. Prep and issue the review comments to the Preliminary Schedule, Baseline Schedule, and the monthly Schedule Updates.

Contract Change Order Review and Analysis – West Yost will create and maintain a Potential Change Order (PCO) log that will be used to track project issues and known changes that have been identified by the GC through RFIs and/or Change Order Requests, and by Owner initiated changes. Management of the individual PCO will involve preparing a rough order-of-magnitude cost estimate, and reviewing/estimating potential time impacts. Each item will be reviewed with the City to obtain their concurrence the item is valid. Quotes will be obtained from the GC for each PCO. If the changed work is necessary, negotiations will attempt to obtain a fair price for the work. If a fair price cannot be reached, or there is no time to negotiate, we will direct the work to proceed – time & materials via a Field Directive. A final price will be summarized and agreed.

West Yost will prepare formal change orders per City internal procedures. Once fully agreed the costs will be included in the GC’s schedule of values and West Yost will confirm the correct percent complete on which to authorize payment during each progress payment request submitted by the GC. Deliverables: PCO Log, RFPs for potential change orders, individual agreed-to change orders for the contractor’s and City’s signature, and field directives for change order work that can’t be negotiated in time or can’t obtain an agreed-to lump-sum quote.

Potential Claims Review and Analysis – West Yost will lead the effort in resolving disputes with the GC. The resolution process will involve a detailed review and summary of the contract wording and presentation to ascertain a fair interpretation of the contract requirements to the City. After review with the City of the findings, a meeting will be held with the GC to present the findings and to hear their position. If there is dispute with entitlement, the resolution will utilize an issue escalation process to resolve the matter at higher management levels of West Yost, the City and GC. Deliverables: Issue summary including the applicable contract language, interpretation, Public Contract Code rules, and a summary of the contractor’s position including the cost and time impacts.

Post Construction Services
Closeout Documents and Services / Warranty – West Yost will confirm that aspects of the project administration have been completed. It will address any outstanding stop notices, confirm receipt of all warranty terms and documentation, and request that all suppliers and subcontractors come forward if payments for their services have not been made or other payment issues may exist so that the release of retention can be made by the City. Deliverables: Prepare package to the City Council recommending the final acceptance of the project. #5..
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Punchlist Coordination – West Yost will arrange a final inspection once the construction contractor requests Substantial Completion. The inspection will create a final punchlist of work items remaining to be completed. The punchlist will be transmitted to the contractor with the decision on the substantial completion request. The remainder of the contract will be to confirm that the items on the punchlist have been addressed and any other remaining deliverables are received. Deliverables: Generate final punchlist and tracking of open items to resolution.

Claim Mitigation – West Yost will lead the effort in resolving claims with the GC. If an equitable agreement still cannot be made, we will direct the GC to follow the guidelines in the front-end documents in filing a claim and then follow the requirements of the contract in resolving disputes in a more formal manner. Deliverables: Issue summary including the applicable contract language, interpretation, Public Contract Code rules, and a summary of the contractor’s position including the cost and time impacts.

Record Drawings – Each month as part of the progress payment approval process, West Yost will review the GC’s efforts in maintaining a record set of as-built drawings and specifications.

Notations such as RFI responses, clarifications, and change orders will be checked. If there are important components that may be difficult to locate once buried or cast in concrete, rough measurements will be used to approximate the location and be reflected on the as-built drawings.

The review will occur each month and progress payments may be withheld until the record drawings are maintained to an acceptable level. At project closeout, the GC will transmit their asbuilt record drawings to West Yost. West Yost will review these updated plans and compare them with our version of the as-built conditions. If found to be acceptable West Yost CM will formally transmit those documents to the designer for incorporation into the final CAD drawing files.

Deliverables: Weekly updates to the CM’s as-built/conformed set of record drawings and specifications, and transmittal of the CM’s and contractor’s as-built record drawings to the Design Engineer at conclusion of the project.
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ed (please exit out of this mode before closing workbook) EXHIBIT B - FEE ESTIMATE Principal Construction
Manager IV
Construction
Manager II
Resident
Inspector
(Prevailing
Wage - Group
2)
Technical
Specialist II
CM
Administrative
II
QC Review
Costs
West Yost Associates P CM IV CM II RI_G2 TS II CMA II P Hours Fee Sub. Other Total $393 $320 $238 $248 $236 $131 $393 w/ markup Direct Costs PROJECT: City of Modesto On-Call CM&I Services (3 Year Duration - Est. June 2024 through June 2027) 10% Task 1 Construction Management

1.01 On-Call Construction Management & Inspection Support Services 8 36 72 660 48 72 896 216,240 $ $ 216,240 Subtotal, Task 1 (hours) 8 36 72 660 48 72 0 896
Subtotal, Task 1 ($) $ 3,144 $ 11,520 $ 17,136 $ 163,680 $ 11,328 $ 9,432 $ 216,240 216,240 $ Task 2 ODCs

2.01 Vehicle 0 $ 7,260 $ 7,260
Subtotal, Task 2 (hours) 0 0 0 0 0 0 0 0
Subtotal, Task 2 ($) $ 7,260 $ 7,260
TOTAL (hours) 8 36 72 660 48 72 0 896
TOTAL ($) $ 3,144 $ 11,520 $ 17,136 $ 163,680 $ 11,328 $ 9,432 $ 216,240 0$ 7,260 $ $ 223,500 Labor
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On-Call List for Construction Management and Inspection Services 183 D’Arcy Pkwy T 916.826.4429
Lathrop, CA 95330 TRCcompanies.com
EXHIBIT "A"
April 12, 2024
Peter Kambel, Senior Civil Engineer
City of Modesto
1010 Tenth Street, Suite 4600
Modesto, CA 95353
Subject: Scope of Services |RFQ 2024-24, On-Call List of Consultants for Construction Management and Inspection Services Dear Mr. Kambel,
Thank you for considering TRC to continue to provide construction management and inspection servicesto the City of Modesto.

TRC is currently providing services under the existing pre-qualified list of consultants, and we will continue to provide the City of Modesto (City) with best-in-class construction management services and people, as we have consistently done and are doing.

We understand your Construction Administration Division (Division) will be constructing various capital improvements, including public buildings, parks, trails, streets, utility pipelines, storm drains, sanitary sewer lift stations, water well pump stations, water tanks, drainage basins, and wastewater treatment facilities. In addition to the capital improvement projects, we understand the City may also need oversight support for encroachment permits for new construction, rehabilitation, and maintenance of other non-City utilities (such as MID power and irrigation, PG&E gas, AT&T, Comcast Communications, etc.) as well as other types of encroachment into the City’s right-of-way. Our team is committed to achieving the Division’s goals of safeguarding the public’s health and safety while staying compliant with environmental requirements during construction for these projects.

We understand that the successful completion of this projects will require experienced inspection and project management staff knowledgeable about this type of work and that is what TRC provides. In addition to providing expert staff, through our value-added approach to our work, we will identify any opportunities to expedite project delivery and reduce the overall cost of the project.

Scope of Services
We acknowledge the anticipate Scope of Work provided as part of the subject RFP and commit to deliver those services as defined below. We understand the City may need the full scope of services from a full-time Construction Manager and/or Construction Inspector on a project by project basis. Other projects may only require a part-time Construction Manager and/or Construction Inspector. In other cases, only a full- or part-time Construction Inspector may be required. At times, projects and permits, in whole or part, may require night work and/or weekend work.

Task 1: Pre-Services
-1.1. Review Contract Documents
-1.2. Project Review Meetings and Correspondence
Task 2: Construction Phase Services
-2.1. Pre-Construction Conference
-2.2. Permits, Other Agency Coordination and Public Relations -2.3. Photograph and Vidio Records
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On-Call List for Construction Management and Inspection Services -2.4. Document control, Reporting and Mangement
-2.5. Project Progress Meetings and Correspondence
-2.6. Construction Inspection Services
-2.7. Labor Complaince Monitoring
-2.8. Special Inspection and Material Testing Services
-2.9. Construction Progress Payments
-2.10. On-site Construction Management
-2.11. Construction Progress Schedule Review and analysis -2.12. Contract Change Order Review and Analysis
-2.13. Potential Claims Review and Analysis
-2.14. Other duties as requested and related to construction management and inspection services Task 3: Post Construction Services
-3.1. Closeout Documents and Services
-3.2. Punchlist Coordination
-3.3. Claim Mitigation
-3.4. Record Drawings
-3.5. Warranty
Project Manager/Supervising Construction Inspector Justin Wehling will lead our team. Justin has extensive experience performing Inspection and managing high-profile projects in the City right-of-way. Justin will provide oversight of the projects to ensure focus is on the most important technical and political elements of the project.

Knowing our past success working within the city of Modesto, TRC believes our team will be a seamless addition to the City's existing resources. We will assist in taking any of your projects from design to completion concentrating on the following efforts to minimize cost and schedule impacts.

Should you have any questions regarding our proposal, please feel free to contact Justin Wehling directly at (916) 826-4429, or by email at [email protected].

Respectfully submitted,
TRC Engineers, Inc
Justin Wehling
Project Manager
Dustin Rath, PE, GE, CCM
Contract Manager
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Exhibit B

HOURLY RATES
Rates provided below note a general range for convenience of the City and project specific rates will be provided for individual projects.

CLASSIFICATION BILL RATE DYST
PIC/Contract Manager $260 − $390
Project Manager $190 − $240
Construction Manager/ Resident Engineer $200 − $245
Landscape Architect $200 − $235
Office Engineer $150 − $245
Construction Inspector* $195 − $225
Electrical Inspector* $195 − $225
Administrative Assistant $90 − $135
Labor Notes and Assumptions:
■ If only straight-time rates are shown, overtime will be billed at a pro-rata adjusted rate. ■ 3% Annual escalation, effective every July 1st beginning 7/1/24. ■ Rates are based on DIR Prevailing Wage Determination NC-63-3-9-2023-1 • Pre-determined Increase(s): $3.00/hr. effective 7/1/24. TRC will adjust pay rates accordingly. * Denotes employees/classifications that are subject to prevailing wage. #5..
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

June 11, 2024
Date: May 22, 2024
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Toby Wells, Director of Engineering Services/City Engineer SUBJECT: Accept Highway Village Strengthen & Replace Water Mains Project as Complete CONTACT: Peter Kambel, Senior Civil Engineer, [email protected], 209-577-5444 DESCRIPTION:

Consider accepting the Highway Village Strengthen & Replace Water Mains Project as complete, releasing securities, releasing payments totaling $3,909,585 to Rolfe Construction Inc., of Atwater, CA., and authorizing the City Clerk to file a Notice of Completion. (Funding Source: Water Fund)
STRATEGIC PLAN ELEMENT:

The recommended action supports the City’s 2020-2025 Strategic Plan Initiatives, Goal D:

Provide safe, efficient, and reliable infrastructure through proactive community investment, maintenance, and sustainability efforts.

BACKGROUND:

The Highway Village Neighborhood is one of many prioritized areas in the City’s water service area that required replacement of aging water infrastructure. The Highway Village Strengthen & Replace Water Mains project replaced and upgraded deficient water mains, associated water valves, services and fire hydrants to increase service reliability and improved flows and pressures. The project area is bounded by Conant Avenue on the East, W. Rumble Road on the North, and Sisk Road on the Southwest.

The project involved the relocation of approximately 200+ water services. The existing water services were currently located in the back of the properties and connected to existing water mains located in the alley ways. The new water mains were installed in the streets fronting the properties which resulted in new water services being installed in the front of the properties.

Staff coordinated with the City Attorney’s Office to prepare a right-of-entry grant to provide to the property owners allowing the City and Contractor to perform the work on private property. Staff then coordinated with consultants to perform public outreach to obtain the right-of-entry grants. #6..
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City Council, June 11, 2024
Accept Highway Village Strengthen and Replace
Water Mains Project as Complete

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On February 17, 2017, by resolution 2017-84, Council approved a design services agreement with O’Dell Engineering for the Highway Village Strengthen & Replace Water Mains Project.

DISCUSSION:

The project was advertised for bids on January 4, 2022. Bids were publicly opened on February 1, 2022, and Rolfe Construction Inc., Atwater, CA., was the lowest responsible bidder at 2.15% below the engineers estimate.

On April 5, 2022, by Resolution 2022-168, Council awarded a contract to Rolfe Construction Inc., in the amount of $4,074,366. The Contractor received the Notice to Proceed with a start date of June 27, 2022. All contract work was completed on January 26, 2024.

By accepting this project as complete, the City officially accepts the improvements made and authorizes the Notice of Completion to be filed. The City Clerk is authorized to complete all the necessary steps to file Notice of Completion with the County Recorder, release securities, and authorize payments totaling $3,909,585. The work is covered by a one-year warranty for any issues that may arise.

Staff recommends the project for acceptance as the contractor has complied with all contract requirements for the project.

FISCAL IMPACT:

The total project costs were $5,017,032 which included design, construction, and construction administration costs. The total project amount originally budgeted was $5,752,746, which included $4,481,803 for the construction contract and contingency with Rolfe Construction Inc.

The City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, and updated by Resolution No. 2019-326 on July 9, 2019, established a contract change order authority of eight percent (8%) for construction contracts of this dollar value. On April 5, 2022, by Resolution 2022-169, staff requested authorization to increase the contract change order budget to 10% ($407,437) due to design build elements in the project.

There are twelve change orders resulting in an overall decrease of $164,781 for change order work as listed on the attached change order log. A summary of the expenditures for the overall project is listed below.
100846 – UTL.Highway Village Strengthen and Replace Water Mains Total
Construction Contract $4,074,366
Construction Contingency 4.0% -$164,781
Construction Mgmt.Services – TRC Engineers Inc. 16.5% $674,241 Construction Admin - City Staff 2.5% $100,843
Engineering Design Administration 3.8% $152,828
Engineering Design/ O’Dell Engineering 3.3% $136,306
City Construction Forces 1.1% $43,229
Total $5,017,032
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City Council, June 11, 2024
Accept Highway Village Strengthen and Replace
Water Mains Project as Complete

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COMMITTEE RECOMMENDATION
This project was presented to the Finance Committee on March 25, 2019, as a report on upcoming Capital Improvement construction projects. The Committee approved the list of projects and recommended that staff present the award of th project to Council upon successful bidding.

CEQA/NEPA REQUIREMENTS:

Environmental review has been provided through a Categorical Exemption under CEQA Section 15301 Class 1(b).

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution accepting the Highway Village Strengthen & Replace Water Mains Project as complete, releasing securities, releasing payments totaling $3,909,585 to Rolfe Construction Inc., of Atwater, CA., and authorizing the City Clerk to file a Notice of Completion.

Approved by:
_________________________________________
Toby Wells, Director of Engineering Services/
City Engineer
_________________________________________
Joseph P. Lopez, City Manager
Attachments:

1. Resolution

2. CCO Log

3. Project Suspension Forms (1)

4. Notice of Completion
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MODESTO CITY COUNCIL
RESOLUTION NO. 2024-XX

RESOLUTION ACCEPTING THE HIGHWAY VILLAGE STRENGTHEN AND

REPLACE WATER MAINS PROJECT AS COMPLETE, RELEASING
SECURITIES, RELEASING PAYMENTS $3,909,585 TO ROLFE
CONSTRUCTION INC., OF ATWATER, CA., AND AUTHORIZING THE CITY

CLERK TO FILE A NOTICE OF COMPLETION
WHEREAS, the Highway Village Neighborhood is one of many prioritized areas in the City’s water service area that required replacement of aging water infrastructure; and
WHEREAS, the Highway Village Strengthen & Replace Water Mains project replaced and upgraded deficient water mains, associated water valves, services, and fire hydrants to increase service reliability and improved flows and pressures; and WHEREAS, the project area is bounded by Conant Avenue on the East, W.

Rumble Road on the North, and Sisk Road on the Southwest; and WHEREAS, the project involved the relocation of approximately 200+ water services; and
WHEREAS, the existing water services were currently located in the back of the properties and connected to existing water mains located in the alley ways; and WHEREAS, the new water mains were installed in the streets fronting the properties which resulted in new water services being installed in the front of the properties; and
WHEREAS, Staff coordinated with the City Attorney’s Office to prepare a right-of-entry grant to provide to the property owners allowing the City and Contractor to #6..
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perform the work on private property. Staff then coordinated with consultants to perform public outreach to obtain the right-of-entry grants; and WHEREAS, on February 17, 2017, by resolution 2017-84, Council approved a design services agreement with O’Dell Engineering for the Highway Village Strengthen & Replace Water Mains Project; and
WHEREAS, bids were advertised on January 4, 2022, and were publicly opened on February 1, 2022, pursuant to Modesto Municipal Code Section 8-3.403 and Charter Section 1307, and Rolfe Construction Inc., Atwater, CA., was the lowest responsible bidder; and
WHEREAS, on April 5, 2022, by Resolution 2022-168, Council awarded a contract to Rolfe Construction Inc., in the amount of $4,074,366; and WHEREAS, the Contractor received the Notice to Proceed with a start date of June 27, 2022. All contract work was completed on January 24, 2024; and WHEREAS, the total project costs were $5,017,032 which included design, construction, and construction administration costs. The total project amount originally budgeted was $5,752,746, which included $4,481,803 for the construction contract and contingency with United Pavement Maintenance, Inc., and WHEREAS, the City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, and updated by Resolution No. 2019-326 on July 9, 2019, established a contract change order authority of eight percent (8%) for construction contracts of this dollar value; and
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WHEREAS, however, on April 5, 2022, by Resolution 2022-169, staff requested authorization to increase the contract change order budget to 10% ($407,437) due to design build elements in the project; and
WHEREAS, there were twelve change orders on this project with an overall decrease of $164,781; and
WHEREAS, by accepting this project as complete, the city officially accepts the improvements made and authorizes the Notice of Completion to be filed.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto hereby accepts the Highway Village Strengthen and Replace Water Mains project as complete, releasing securities releasing payments totaling $3,909,585 to Rolfe Construction Inc., of Atwater, CA., and authorizing the City Clerk to file a Notice of Completion.
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The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 11th day of June, 2024, 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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CHANGE
ORDER NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: April 30, 2024
TIME
EXT. Approved
2022/14 - Highway Village Strengthen and Replace Water Mains Project (100846) PROJECT NUMBER AND NAME:
01 TRAFFIC RATED BOX COST DIFFERENTIAL 05/22/23 $2,350.11 0 W.D. No Yes No Yes 02 TIME EXTENSION TO CONTRACT 06/22/23 $0.00 116 W.D. No Yes No Yes03 ABANDON AND CONNECT NEW SERVICE AT 2516

BRENNER WAY
08/07/23 $2,328.00 0 W.D. No Yes No Yes
04 Encountered Backhoe Wells 09/22/23 $4,595.73 0 W.D. No Yes No Yes 05 Unmarked Manmade Object 09/22/23 $8,357.98 0 W.D. No Yes No Yes06 MID Abandoned Culvert Structure 09/22/23 $10,104.00 0 W.D. No Yes No Yes07 School Tie In Emergency Sewer Trunk work. Escavate area for water tie in at school. 13 Additional Working Days. 12/14/23 $3,310.00 13 W.D. No Yes No Yes
08 Relocate Fire Hydrant 03/06/24 $1,755.00 1 W.D. Yes No No Yes09 Working days not attached to previous CCO 03/06/24 $0.00 6 W.D. No Yes No Yes10 1" Tie in Locations Moved to Rear of Property 03/06/24 $105,759.55 10 W.D. No Yes No Yes11 Adjust of Quanities Consistent with Field Conditions 03/06/24 $65,264.00 0 W.D. Yes No No Yes 12 Balancing Change Order 04/30/24 -$368,605.50 0 W.D. No Yes No Yes Total Change Orders Processed To Date: -$164,781.13
Original Contract Amount: $4,074,366.00IDA To: $407,437.00 Total Working Days Time Extension: 146
Original Director's CCO Authority: $325,949.00IDA Date: 4/5/2022 Total Executed Change Orders To Date: -$164,781.13
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CHANGE
ORDER NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: April 30, 2024
TIME
EXT. Approved
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May 22, 2024
N/A
5/21/2024
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Requested by
City of Modesto/City Clerk’s Office
Return to City of Modesto/City Clerk’s Office:

PO Box 642
Modesto CA 95353

NOTICE OF COMPLETION
NOTICE IS HEREBY GIVEN that on April 15, 2022, the City of Modesto, PO Box 642, Modesto, California 95353, a Municipal Corporation in the County of Stanislaus, State of California, awarded the contract to Rolfe Construction Inc., of Atwater, CA.,, for the project titled “Highway Village Strengthen & Replace Water Mains Project” located at Conant Avenue on the East, W. Rumble Road on the North, and Sisk Road on the Southwest, and that on January 24, 2024, the said contract as a whole was actually completed by Rolfe Construction Inc., of Atwater, CA., and accepted by the Council of the City of Modesto at a regular meeting of the Council held on June 11, 2024.

CITY OF MODESTO
By
Diane Nayares-Perez, City Clerk
I certify under penalty of perjury that the foregoing is true and correct.

Date: By
Modesto, CA Diane Nayares-Perez, City Clerk
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

June 11, 2024
Date: May 22, 2024
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Toby Wells, Director of Engineering Services/City Engineer SUBJECT: Accept Pelandale Neighborhood Pavement Maintenance and Virginia Corridor Trail Maintenance Project as Complete
CONTACT: Peter Kambel, Senior Civil Engineer, [email protected], 209-577-5444 DESCRIPTION:

Consider accepting the Pelandale Neighborhood Pavement Maintenance and Virginia Corridor Trail Maintenance Project as complete, releasing securities, releasing payments totaling $1,956,556 to American Pavement Systems, Inc., of Modesto, California, and authorizing the City Clerk to file a Notice of Completion. (Funding Source: Local Measure L Funds) STRATEGIC PLAN ELEMENT:

The recommended action supports the City’s 2020-2025 Strategic Goal, “Ensure Safe, Efficient, and Reliable Infrastructure.”
BACKGROUND:

In November of 2016, Stanislaus County voters approved a county-wide, 25-year, half-cent sales tax increase known as Measure L. The tax increase went into effect on April 1, 2017, and the City began receiving quarterly payments commencing in July 2017. On October 4, 2016, Council approved Ordinance No. 3656-C.S. adding Chapter 10 to Title 8 of the Modesto Municipal Code to establish a Citizens’ Transportation Sales Tax Commission (Citizens’ Commission) consisting of eleven members appointed by the Council.

On December 12, 2017, by Resolution 2017-505, Council approved a Measure L Master Funding Agreement between the Stanislaus Council of Governments and the City of Modesto. The City’s estimated annual share of Measure L local funds is approximately $8.9 million, allocated to three categories: $6.87 million annually for Local Streets and Roads, which is to be used exclusively for repair and maintenance of City streets; $1.37 million annual for Traffic Management, which is to be used to upgrade intersections, widen roads, signalize intersections, install traffic calming #7..
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City Council, June 11, 2024
Accept Pelandale Neighborhood Pavement Maintenance and Virgina Corridor Trail Maintenance Project as Complete

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devices, etc.; and $687,000 annually for Bike and Pedestrian improvements, which was to be used for local connectivity between communities, local schools, trails and recreational facilities.

On March 5, 2020, the Citizens’ Commission approved a list of projects for Fiscal Year 2020- 2021, which included the Pelandale Neighborhood Rehabilitation and Virginia Corridor Trail Maintenance Projects. These Projects were included in the Fiscal Year 2020-2021 Capital Improvement Program, which was presented to the Finance Committee at workshops held on May 18, May 19, and May 20, 2020, and at a joint Planning Commission/Finance Committee meeting held on May 18, 2020. The Capital Improvement Plan projects and budget were approved by City Council on June 30, 2020, by Resolution No. 2020-280.

Project work included pavement maintenance located in the area bound by Dale Road, Bangs Avenue, Tully Road, and Snyder Avenue. This project maintains approximately 12.6 center line miles or 2,190,000 square feet of local roads, and 1.1 center line miles or 200,000 square feet of minor collector roads (Snyder Avenue). Improvements include slurry seal surface treatment and restriping, removal of non-compliant ADA ramps, and construction of new compliant ramps in multiple locations, and includes signage and striping for a Class II bikeway on Snyder Avenue.

Project work on the Virginia Corridor included pavement maintenance (slurry seal) and restripe from Bowen Avenue to the north and College Avenue to the south. The project also included a slurry seal of various streets within the College Neighborhood between W. Morris (north), Virginia Avenue (east), Needham Street (south), and College Avenue (west), as well as a redesign of the intersection of Stoddard Avenue, Terminal Avenue, and the Virginia Corridor.

DISCUSSION:

The project was advertised for bids on March 15, 2022. Bids were publicly opened on April 12, 2022, and American Pavement Systems, Inc., of Modesto, California, was the lowest responsible bidder at 0.72% above the engineers estimate.

On May 10, 2022, by Resolution 2022-216, Council awarded a contract to American Pavement Systems, Inc., of Modesto, California, in the amount of $1,888,619. The Contractor received the Notice to Proceed with a start date of June 20, 2022. All contract work was completed on June 20, 2023.

By accepting this project as complete, the City officially accepts the improvements made and authorizes the Notice of Completion to be filed. The City Clerk is authorized to complete all the necessary steps to file Notice of Completion with the County Recorder, release securities, and authorize payments totaling $1,956,556. The work is covered by a one-year warranty for any issues that may arise.

Staff recommends the project for acceptance as the contractor has complied with all contract requirements for the project.

FISCAL IMPACT:

The total project costs were $2,607,947 which included design, construction, and construction administration costs. The total project amount originally budgeted was $2,755,313, which included $2,039,709 for the construction contract and contingency with American Pavement Systems, Inc. #7..
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Accept Pelandale Neighborhood Pavement Maintenance and Virgina Corridor Trail Maintenance Project as Complete

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There are four change orders resulting in an overall increase of $67,937 for change order work as listed on the attached change order log. A summary of the expenditures for the overall project is listed below.
101247 – CED Virginia Corridor Trail Maintenance
101249 – CED Pelandale Neighborhood Pavement Maintenance 101247 101249 Total
Construction Contract $664,243 $1,224,376 $1,888,619
Construction Contingency 3.6% ($5,561) $73,498 $67,937
Engineering Design Administration 21.3% $53,693 $349,428 $403,121 Construction Admin - City Staff 13.1% $97,829 $150,441 $248,270 TOTAL EXPENDITURES: $810,204 $1,797,743 $2,607,947

COMMITTEE RECOMMENDATION
This project was presented to the Finance Committee at workshops held on May 18, May 19, and May 20, 2020, and at a joint Planning Commission/Finance Committee meeting held on May 18, 2020. The Committee approved the list of projects and recommended that staff present the award of the project to Council upon successful bidding.

CEQA/NEPA REQUIREMENTS:

Environmental review has been provided through a Categorical Exemption under CEQA Section 15301, EA/CEDD 2021-26, filed on October 12, 2021.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution accepting the Pelandale Neighborhood Pavement Maintenance and Virgina Corridor Trail Maintenance Project as complete, releasing securities, releasing payments totaling $1,956,556 to American Pavement Systems, Inc., of Modesto, California, and authorizing the City Clerk to file a Notice of Completion.

Approved by:
_________________________________________
Toby Wells, Director of Engineering Services/
City Engineer
_________________________________________
Joseph P. Lopez, City Manager
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Accept Pelandale Neighborhood Pavement Maintenance and Virgina Corridor Trail Maintenance Project as Complete

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Attachments:

1. Resolution

2. CCO Log

3. Project Suspension Forms (2)

4. Notice of Completion
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MODESTO CITY COUNCIL
RESOLUTION NO. 2024-XX

RESOLUTION ACCEPTING THE PELANDALE NEIGHBORHOOD

PAVEMENT MAINTENANCE AND VIRGINIA CORRIDOR TRAIL

MAINTENANCE PROJECT AS COMPLETE, RELEASING SECURITIES,
RELEASING PAYMENTS TOTALING $1,956,556 TO AMERICAN PAVEMENT SYSTEMS, INC., OF MODESTO, CALIFORNIA, AND AUTHORIZING THE

CITY CLERK TO FILE A NOTICE OF COMPLETION
WHEREAS, in November of 2016, Stanislaus County voters approved a countywide, 25-year, half-cent sales tax increase known as Measure L; and WHEREAS, the tax increase went into effect on April 1, 2017, and the City began receiving quarterly payments commencing in July 2017; and WHEREAS, on October 4, 2016, Council approved Ordinance No. 3656-C.S. adding Chapter 10 to Title 8 of the Modesto Municipal Code to establish a Citizens’ Transportation Sales Tax Commission (Citizens’ Commission) consisting of eleven members appointed by the Council; and
WHEREAS, on December 12, 2017, by Resolution 2017-505, Council approved a Measure L Master Funding Agreement between the Stanislaus Council of Governments and the City of Modesto. The City’s estimated annual share of Measure L local funds is approximately $8.9 million, allocated to three categories: $6.87 million annually for Local Streets and Roads, which is to be used exclusively for repair and maintenance of City streets; $1.37 million annual for Traffic Management, which is to be used to upgrade intersections, widen roads, signalize intersections, install traffic calming devices, etc.; and $687,000 annually for Bike and Pedestrian improvements, which was to be used for local connectivity between communities, local schools, trails and recreational facilities; and
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WHEREAS, on March 5, 2020, the Citizens’ Commission approved a list of projects for Fiscal Year 2020-2021, which included the Pelandale Neighborhood Rehabilitation and Virginia Corridor Trail Maintenance Projects; and WHEREAS, the Capital Improvement Plan projects and budget were approved by City Council on June 30, 2020, by Resolution No. 2020-280; and WHEREAS, project work included pavement maintenance located in the area bound by Dale Road, Bangs Avenue, Tully Road, and Snyder Avenue; and WHEREAS, improvements include slurry seal surface treatment and restriping, removal of non-compliant ADA ramps, and construction of new compliant ramps in multiple locations, and includes signage and striping for a Class II bikeway on Snyder Avenue; and
WHEREAS, bids were advertised on May 15, 2022, and were publicly opened on April 12, 2022, pursuant to Modesto Municipal Code Section 8-3.403 and Charter Section 1307, and American Pavement Systems, Inc., of Modesto, CA. was the lowest responsible bidder; and
WHEREAS, on May 10, 2022, by Resolution 2022-216, Council awarded a contract to American Pavement Systems, Inc., in the amount of $1,888,619; and WHEREAS, the Contractor received the Notice to Proceed with a start date of June 20, 2022. All contract work was completed on June 20, 2023; and WHEREAS, the total project costs were $2,607,947 which included design, construction, and construction administration costs. The total project amount originally budgeted was $2,755,313, which included $2,039,709 for the construction contract and contingency with American Pavement Systems, Inc., and
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WHEREAS, the City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, and updated by Resolution No. 2019-326 on July 9, 2019, established a contract change order authority of eight percent (8%) or 151,090 for construction contracts of this dollar value; and
WHEREAS, there were four change orders on this project with an overall increase of $67,937; and
WHEREAS, by accepting this project as complete, the city officially accepts the improvements made and authorizes the Notice of Completion to be filed.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto hereby accepts the Pelandale Neighborhood Pavement Maintenance and Virginia Corridor Trail Maintenance project as complete, releasing securities releasing payments totaling $1,956,556 to American Pavement Systems, Inc., of Modesto, California, and authorizing the City Clerk to file a Notice of Completion.
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The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 11th day of June 2024, 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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CHANGE
ORDER NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: May 20, 2024
TIME
EXT. Approved
2022/19 - Pelandale Neighborhood Pavement Maintenance and Virginia Corridor Trail Maintenance Project (101249 & 101247) PROJECT NUMBER AND NAME:
01 CONSTRUCT SEAT WALL AT STODDARD/TERMINAL 05/03/23 $31,806.00 0 W.D. No No Yes Yes 02 EXTEND GRINDING LIMITS, PAVING, STRIPING AND

ADDITIONAL CONCRETE
05/03/23 $60,259.20 0 W.D. No No Yes Yes
03 Additional 84 Working Days 03/06/24 $0.00 84 W.D. No Yes No Yes 40 Balancing Change Order -$24,128.42 0 W.D. No Yes No No Total Change Orders Processed To Date: $67,936.78
Original Contract Amount: $1,888,619.00IDA To:

Total Working Days Time Extension: 84
Original Director's CCO Authority: $151,089.50IDA Date:

Total Executed Change Orders To Date: $92,065.20
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CHANGE
ORDER NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: May 20, 2024
TIME
EXT. Approved
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3/29/2024
Not Applicable
3/29/24
02-APR-2024
4/2/2024
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03/29/2024
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4/2/2024
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Requested by
City of Modesto/City Clerk’s Office
Return to City of Modesto/City Clerk’s Office:

PO Box 642
Modesto CA 95353

NOTICE OF COMPLETION
NOTICE IS HEREBY GIVEN that on May 10, 2022, the City of Modesto, PO Box 642, Modesto, California 95353, a Municipal Corporation in the County of Stanislaus, State of California, awarded the contract to American Pavement Systems, Inc., of Modesto, CA., for the project titled “Pelandale Neighborhood Pavement Maintenance and Virginia Corridor Trail Maintenance Project” located at from Bowen Avenue to the north and College Avenue to the south and various streets within the college neighborhood between West Morris to the north, Virginia Avenue to the east, Needham Street to the south, and college Avenue to the west, as well as an intersection of Stoddard Avenue, Terminal Avenue and the Virginia Corridor, and that on June 20, 2023, the said contract as a whole was actually completed by American Pavement Systems, Inc., of Modesto, CA., and accepted by the Council of the City of Modesto at a regular meeting of the Council held on June 11, 2024.

CITY OF MODESTO
By
Diane Nayares-Perez, City Clerk
I certify under penalty of perjury that the foregoing is true and correct.

Date: By
Modesto, CA Diane Nayares-Perez, City Clerk
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

June 11, 2024
Date: May 22, 2024
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Toby Wells, Director of Engineering Services/City Engineer SUBJECT: Accept Rebid Upgrade Traffic Signals 2017 CML-5059 (222) Project as Complete CONTACT: Peter Kambel, Senior Civil Engineer, [email protected], 209-577-5444 DESCRIPTION:

Consider accepting the Rebid Upgrade Traffic Signals 2017 CML-5059 (222) Project as complete, releasing securities, releasing payments totaling $857,281 to St. Francis Electric, LLC, of San Leandro CA., and authorizing the City Clerk to file a Notice of Completion. (Funding Source:

Congestion Mitigation Air Quality Grant)
STRATEGIC PLAN ELEMENT:

The recommended action supports the City’s 2020-2025 Strategic Plan Initiatives, Goal D:

Provide safe, efficient, and reliable infrastructure through proactive community investment, maintenance and sustainability efforts.

BACKGROUND:

The Rebid Upgrade Traffic Signals - 2017 project removed all the existing traffic signal standards, conduit, wiring and traffic signals equipment at the intersections of Needham Avenue at 11th Street and 1st Street at H Street. This project also relocated the traffic signal cabinet to a more accessible area, upgraded the cabinet to current standards, installed new conduit and signal interconnect cable, and upgraded pedestrian push buttons to be compliant with the Americans with Disabilities Act (ADA). Additionally, this project installed Emergency Vehicle Pre-emption (EVP) and new video detection cameras at these intersections. This initiative also supports the future implementation of video detection cameras, signal performance software, adaptive software, and additional intelligent transportation system elements.

The City applied for a Federal Congestion Mitigation and Air Quality (CMAQ) Grant from Stanislaus Council of Governments (StanCOG) for the Upgrade Traffic Signals 2017 in May of 2014 and was granted approval to proceed with the project. In June 2016, the California Department of Transportation (Caltrans) authorized preliminary engineering funds in the amount #8..
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of $114,675, and on September 13, 2016, by Resolution 2016-348, Council approved the budget adjustment.

In July 2018, Caltrans authorized $968,425 in construction funds for the project. In May 2021, the project limits were reduced, and the construction funds were reduced to $868,750. On June 22, 2021, per Resolution 2021-234, Council approved a budget adjustment for construction funds.

The Upgrade Traffic Signals 2017 project was originally advertised for bids on December 6, 2021, having only a base bid with an engineer’s estimate of $702,896. Bids were publicly opened on January 11, 2022, pursuant to City Charter Section 1307, and seven bids were received. The bids received were above the engineer’s estimate by approximately 55.6% due to inflation and current construction pricing.

On March 8, 2022, by Resolution No. 2022-136, Council approved rejecting all bids for the Upgrade Traffic Signals 2017 Project and authorizing staff to re-advertise the project for bids at a future date.

City staff reached out to StanCOG to request additional funding. In August 2022, Caltrans authorized an additional $240,000 in construction funds due to inflation and current construction costs; and on October 11, 2022, per Resolution 2022-413, Council approved a budget adjustment.

DISCUSSION:

The project was advertised for bids on August 30, 2022. Bids were publicly opened on October 4, 2022, and St. Francis Electric, LLC, of San Leandro CA., was the lowest responsible bidder at

35.81% above the engineers estimate.

On December 6, 2022, by Resolution 2022-467, Council awarded a contract to St. Francis Electric, LLC., in the amount of $850,515. The Contractor received the Notice to Proceed with a start date of February 21, 2023. All contract work was completed on October 17, 2023.

By accepting this project as complete, the City officially accepts the improvements made and authorizes the Notice of Completion to be filed. The City Clerk is authorized to complete all the necessary steps to file Notice of Completion with the County Recorder, release securities, and authorize payments totaling $857,281. The work is covered by a one-year warranty for any issues that may arise.

Staff recommends the project for acceptance as the contractor has complied with all contract requirements for the project.

FISCAL IMPACT:

The total project costs were $1,004,310 which included design, construction, and construction administration costs. The total project amount originally budgeted was $1,223,425, which included $935,567 for the construction contract and contingency with Rolfe Construction Inc.

There are four change orders resulting in an overall increase of $6,766 for change order work as #8..
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City Council, June 4, 2024
Accept Rebid Upgrade Traffic Signals 2017 CML-5059 (222) Project as Complete

Page 3 of 3 ends

listed on the attached change order log. A summary of the expenditures for the overall project is listed below.
100968 – PW-Upgrade Traffic Signals 2017
Total
Construction Contract (St. Francis Elec. LLC) $850,515
Construction Contingency 0.8% $6,766
Construction Admin - City Staff 9.1% $77,319
Engineering Design Administration 8.2% $69,710
Total Construction Expenditures $1,004,310

COMMITTEE RECOMMENDATION
On October 4, 2021, the Economic Development Committee reviewed and recommended a list of upcoming Capital Improvement projects for Council approval to award, which included this project.

CEQA/NEPA REQUIREMENTS:

Environmental review has been provided through a Categorical Exemption under CEQA Section 15301, EA/PW 2019-011, filed July 9, 2019.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution accepting the Rebid Upgrade Traffic Signals 2017 CML-5059 (222) Project as complete, releasing securities, releasing payments totaling $857,281 to St. Francis Electric, LLC., of San Leandro, CA., and authorizing the City Clerk to file a Notice of Completion.

Approved by:
_________________________________________
Toby Wells, Director of Engineering Services/
City Engineer
_________________________________________
Joseph P. Lopez, City Manager
Attachments:

1. Resolution

2. CCO Log

3. Project Suspension Forms (1)

4. Notice of Completion
#8..
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06/11/2024/ESD/PKambel/ 1 2024-

MODESTO CITY COUNCIL
RESOLUTION NO. 2024-XX
RESOLUTION ACCEPTING THE REBID UPGRADE TRAFFIC SIGNALS 2017 CML-5059 (222) PROJECT AS COMPLETE, RELEASING SECURITIES, RELEASING PAYMENTS TOTALING $857,281 TO ST. FRANCIS ELECTRIC,

LLC, OF SAN LEANDRO, CA, AND AUTHORIZING THE CITY CLERK TO

FILE A NOTICE OF COMPLETION
WHEREAS, the Rebid Upgrade Traffic Signals - 2017 project removed all the existing traffic signal standards, conduit, wiring and traffic signals equipment at the intersections of Needham Avenue at 11th Street and 1st Street at H Street; and WHEREAS, this project also relocated the traffic signal cabinet to a more accessible area, upgraded the cabinet to current standards, installed new conduit and signal interconnect cable, and upgraded pedestrian push buttons to be compliant with the Americans with Disabilities Act (ADA); and
WHEREAS additionally, this project installed Emergency Vehicle Pre-emption (EVP) and new video detection cameras at these intersections; and WHEREAS, this initiative also supports the future implementation of video detection cameras, signal performance software, adaptive software, and additional intelligent transportation system elements; and
WHEREAS, the City applied for a Federal Congestion Mitigation and Air Quality (CMAQ) Grant from Stanislaus Council of Governments (StanCOG) for Upgrade Traffic Signals 2017 in May of 2014 and was granted approval to proceed with the project; and WHEREAS, in June 2016, the California Department of Transportation (Caltrans) authorized preliminary engineering funds in the amount of $114,675, and on September 13, 2016, by Resolution 2016- 348, Council approved the budget adjustment; and #8..
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06/11/2024/ESD/PKambel/ 2 2024-
WHEREAS, in July 2018, Caltrans authorized $968,425 in construction funds for the project. In May 2021, the project limits were reduced, and the construction funds were reduced to $868,750. On June 22, 2021, per Resolution 2021-234, Council approved a budget adjustment for construction funds; and WHEREAS, the Upgrade Traffic Signals 2017 project was originally advertised for bids on December 6, 2021, having only a base bid with an engineer’s estimate of $702,896. Bids were publicly opened on January 11, 2022, pursuant to City Charter Section 1307, and seven bids were received. The bids received were above the engineer’s estimate by approximately 55.6% due to inflation and current construction pricing; and WHEREAS, on March 8, 2022, by Resolution No. 2022-136, Council approved rejecting all bids for the Upgrade Traffic Signals 2017 Project and authorizing staff to readvertise the project for bids at a future date; and WHEREAS, city staff reached out to Stanislaus Council of Governments (StanCOG) to request additional funding. In August 2022, Caltrans authorized an additional $240,000 in construction funds due to inflation and current construction costs; and on October 11, 2022, per Resolution 2022-413, Council approved a budget adjustment; and
WHEREAS, bids were advertised on August 30, 2022, and were publicly opened on October 4, 2022, pursuant to Modesto Municipal Code Section 8-3.403 and Charter Section 1307, and St. Francis Electric, LLC, of San Leandro, CA., was the lowest responsible bidder; and
#8..
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06/11/2024/ESD/PKambel/ 3 2024-
WHEREAS, on December 6, 2022, by Resolution 2022-467, Council awarded a contract to ST. Francis Electric, LLC, in the amount of $850,515; and WHEREAS, the Contractor received the Notice to Proceed with a start date of February 21, 2023. All contract work was completed on October 17, 2023; and WHEREAS, the total project costs were $1,004,310 which included design, construction, and construction administration costs. The total project amount originally budgeted was $1,223,425 which included $935,567 for the construction contract and contingency with ST. Francis Electric, LLC, and
WHEREAS, the City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, and updated by Resolution No. 2019-326 on July 9, 2019, established a contract change order authority of ten percent (10%) for construction contracts of this dollar value; and
WHEREAS, there were four change orders on this project with an overall increase of $6,766; and
WHEREAS, by accepting this project as complete, the city officially accepts the improvements made and authorizes the Notice of Completion to be filed.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto hereby accepts the Rebid Upgrade Traffic Signals 2017 CML-5059 (222) Project as complete, releasing securities, releasing payments totaling $857,281 to St. Francis Electric, LLC., of San Leandro, CA., and authorizing the City Clerk to file a Notice of Completion.
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06/11/2024/ESD/PKambel/ 4 2024-
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 11th day of June 2024, 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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CHANGE
ORDER NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: March 14, 2024
TIME
EXT. Approved
2023/04 - Upgrade Traffic Signals - 2017, CML 5059 (222) (100968) Rebid PROJECT NUMBER AND NAME:
01 REMOVE AND REPLACE CONCRETE SIDEWALK 06/20/23 $6,829.64 2 W.D. No No Yes Yes 02 DEMOLITION POLE FOUNDATIONS AND MODIFY

POLE AND ARM
08/11/23 $6,496.95 0 W.D. No Yes No Yes
03 Eliminate original section 14/exhibit 12G and replace with August 2022 version.
10/05/23 $0.00 0 W.D. No Yes No Yes
04 Quanity adjustments consistent with field conditions. 03/15/24 -$6,560.87 No No Yes No Total Change Orders Processed To Date: $6,765.72
Original Contract Amount: $850,515.00IDA To:

Total Working Days Time Extension: 2
Original Director's CCO Authority: $85,052.00IDA Date: 12/6/2022 Total Executed Change Orders To Date: $6,765.72
#8..
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CHANGE
ORDER NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: March 14, 2024
TIME
EXT. Approved
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Not Applicable
3/27/2024
3/27/24
02-APR-2024
4/2/2024
#8..
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For both Non-Capital/Capital Projects
Verity Project Fund is correct.

Verify all encumbrances have cleared with zero balances once all costs are final.

GMS: Costing and Funds Check on Usage and Miscellaneous Costs PRC: Update Project Summary Amounts
PRC: Distribute Total Burdened Cost
PRC: Generate Cost Accounting Events
PRC: Create Accounting
For Non-Capital Projects
Enter and End Date in the Project Screen in Oracle.

For Capital Projects
Email the Asset Financial Analyst (Leslie Vaughn)of the closure (Capital Projects ONLY).

For both Non-Capital/Capital Projects
Email Project Closure Form to Requesting Department once completed.

File BT or AT if Budget Adjustment was necessary.

File Project Closure Form in the Closure Binder.

For Capital Projects that include Non-Capital expenses, include itemized list of new assets (schedule of values)
Before changing the Status to "Pending Close", attach a scanned copy of the signed Project Closure Form to the Project Screen.

Next change the Status to "Pending Close" and enter the date the Department Authorized the Project to be closed.

Email the Oracle Administrators (Matthew Chewning and Maria Garnica) to inactivate the Project Number on the General Ledger side of Oracle.

Finance Staff ONLY
Steps for Processing Project Closures
Grant Funded Projects - Verify with Program Manager and Financial Analyst in Accounting- that all final reporting and billing have been completed, and revenue has been received.

In Oracle, be sure to run the five processes individually after adjustments for both NonCapital/Capital Projects:

Before changing the Status to "Closed", attach a scanned copy of the signed Project Closure Form to the Project Screen in Oracle.

Email the Oracle Administrators (Matthew Chewning and Maria Garnica) to inactivate the Project Number on the General Ledger side of Oracle.

Last Revised 12/6/2021
#8..
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Pull-down Lists (DO NOT PRINT THIS PAGE)
Yes/No (Pulldown)
Yes
No
Department/Division (Pulldown List)
Community & Economic Development - Transportation Engineering Community & Economic Development -Land Development Engineering Community & Economic Development -Community Development Public Works - Traffic
Public Works - Streets
Public Works - Fleet
Utilities - Engineering
Utilities - Water
Utilities - Wastewater
Parks, Recreation & Neighborhoods
MPD
MFD
Last Revised 12/6/2021
#8..
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#8..
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#8..
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Date: 3/22/2024 14:48 PM
Upgrade Traffic Signals 2017 100968
Capital Unsponsored
Organization : PW.Traffic Engineering Category : Traffic Circulation Start Date : 01-AUG-2016 Hosting Fund : Capital Grants - Streets CIP Projects3160Type : Traffic Control Devices End Date :

Element : Public Safety Area : Within City Status : APPROVED Classification : Improvements Manager : Murphy, Mark G Const. Code : New or Future Proj Desc : PW - Upgrade Traffic Signals 2017
Revenue

PJTD BDGT
Previous Yr End
PJTD Actual
Previous Yr End
PJTD Available
Previous Yr End
PJTD Budget PJTD Actual PJTD Commit PJTD Available
42110 Intergov - State - CA
Department of Transportation
1,223,425.00 365,502.08 857,922.92 1,223,425.00 842,950.36 0.00 380,474.64 Total 1,223,425.00 365,502.08 857,922.92 1,223,425.00 842,950.36 0.00 380,474.64 Expenditure

PJTD BDGT
Previous Yr End
PJTD Actual
Previous Yr End
PJTD Available
Previous Yr End
PJTD Budget PJTD Actual PJTD Commit PJTD Available
CA Construction Admin 144,620.00 38,217.31 106,402.69 144,620.00 68,905.99 3,898.00 71,816.01 CON Construction 877,021.00 272,040.08 604,980.92 877,021.00 836,552.91 19,032.17 21,435.92 CTGY-CIP Contingency - CIP 87,109.00 0.00 87,109.00 87,109.00 14,326.59 0.00 72,782.41 EDA Eng/Design/Admin 114,675.00 68,593.19 46,081.81 114,675.00 69,852.91 0.00 44,822.09 Total 1,223,425.00 378,850.58 844,574.42 1,223,425.00 989,638.40 22,930.17 210,856.43 Net Total 13,348.50 169,618.21
#8..
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Requested by
City of Modesto/City Clerk’s Office
Return to City of Modesto/City Clerk’s Office:

PO Box 642
Modesto CA 95353

NOTICE OF COMPLETION
NOTICE IS HEREBY GIVEN that on December 6, 2022, the City of Modesto, PO Box 642, Modesto, California 95353, a Municipal Corporation in the County of Stanislaus, State of California, awarded the contract to St. Francis Electric, LLC, for the project titled “Rebid Upgrade Traffic Signals 2017 CML-5059 (222)” located at Intersections of 11th Street at Needham Avenue and 1st Street and H Street, and that on October 17, 2023 the said contract as a whole was actually completed by St. Francis Electric, LLC, and accepted by the Council of the City of Modesto at a regular meeting of the Council held on June 11, 2024.

CITY OF MODESTO
By
Diane Nayares-Perez, City Clerk
I certify under penalty of perjury that the foregoing is true and correct.

Date: By
Modesto, CA Diane Nayares-Perez, City Clerk
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

June 11, 2024
Date: May 22, 2024
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Toby Wells, Director of Engineering Services/City Engineer SUBJECT: Accept Briggsmore Avenue and Orangeburg Avenue Pavement Rehabilitation Project as Complete
CONTACT: Peter Kambel, Senior Civil Engineer, [email protected], 209-577-5444 DESCRIPTION:

Consider accepting the Briggsmore Avenue and Orangeburg Avenue Pavement Rehabilitation Project as complete, releasing securities, releasing payments totaling $7,712,644 to United Pavement Maintenance, Inc., of Hughson, CA., and authorizing the City Clerk to file a Notice of Completion. (Funding Source: Local Measure L Funds)
STRATEGIC PLAN ELEMENT:

The recommended action supports the City’s 2020-2025 Strategic Plan Initiatives, Goal D:

Provide safe, efficient, and reliable infrastructure through proactive community investment, maintenance, and sustainability efforts.

BACKGROUND:

Pavement rehabilitation on Briggsmore Avenue (McHenry Avenue to Oakdale Road), includes roadway resurfacing, new signage and striping, Americans with Disabilities Act (ADA) upgrades at intersections, removal of McHenry Village entrance from Briggsmore, and signal upgrades (detection cameras) where needed. Pavement rehabilitation on Orangeburg Avenue (Coffee Road to Oakdale Road), includes roadway resurfacing, new signage and striping, ADA upgrades, and minor storm drainage system improvements at various locations. ADA improvements to residential neighborhoods include compliant ramps, pedestrian refuges, signage and striping where needed. Additional work includes installation of curb, gutter, sidewalk, drainage, and lighting on Empire Avenue (Yosemite Boulevard to Tenaya Drive).

DISCUSSION:

The project was advertised for bids on May 18, 2022. Bids were publicly opened on June 28, 2022, and United Pavement Maintenance, Inc., of Hughson, CA was the lowest responsible bidder at 0.72% above the engineers estimate.
#9..
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City Council, June 4, 2024
Accept Briggsmore Avenue and Orangeburg Avenue Pavement Rehabilitation Project as Complete

Page 2 of 3 ends

On August 23, 2022, by Resolution 2022-359, Council awarded a contract to United Pavement Maintenance, Inc., in the amount of $7,251,603. The Contractor received the Notice to Proceed with a start date of October 17, 2022. All contract work was completed on January 26, 2024.

By accepting this project as complete, the City officially accepts the improvements made and authorizes the Notice of Completion to be filed. The City Clerk is authorized to complete all the necessary steps to file Notice of Completion with the County Recorder, release securities, and authorize payments totaling $7,712,644. The work is covered by a one-year warranty for any issues that may arise.

Staff recommends the project for acceptance as the contractor has complied with all contract requirements for the project.

FISCAL IMPACT:

The total project costs were $8,986,803 which included design, construction, and construction administration costs. The total project amount originally budgeted was $9,190,891, which included $7,976,763 for the construction contract and contingency with United Pavement Maintenance, Inc.

The City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, and updated by Resolution No. 2019-326 on July 9, 2019, established a contract change order authority of eight percent (8%) for construction contracts of this dollar value. However, on August 23, 2022, by Resolution 2022-360, Staff requested authorization to increase the Director’s Authority to 10% ($725,160) due to the design build elements in the project.

There are ten change orders resulting in an overall increase of $461,041 for change order work as listed on the attached change order log. A summary of the expenditures for the overall project is listed below.
101246 – CED Briggsmore Avenue Pavement Rehabilitation
101248 – Orangeburg Avenue Pavement Rehabilitation Phase 1 101250 - CED Neighborhood ADA Improvements Program
101246 101248 101250 Total
Construction Contract $4,239,060 $2,444,294 $568,249 $7,251,603 Construction Contingency $325,723 $140,884 ($5,566) $461,041 Construction Management Services –
TRC Engineers Inc.
$294,327 $164,707 $31,074 $490,108
Engineering Design Administration $375,440 $234,007 $16,872 $626,319 Construction Admin - City Staff $114,246 $36,463 $6,894 $157,603 City Construction Forces $129 $0 $0 $129
TOTAL ANTICIPATED EXPENDITURES: $5,348,925 $3,020,355 $617,523 $8,986,803 #9..
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City Council, June 4, 2024
Accept Briggsmore Avenue and Orangeburg Avenue Pavement Rehabilitation Project as Complete

Page 3 of 3 ends

COMMITTEE RECOMMENDATION
This project was presented to the Economic Development Committee on April 5, 2021. The Committee approved the list of projects and recommended that staff present the award of the project to Council upon successful bidding.

CEQA/NEPA REQUIREMENTS:

City staff prepared a Notice of Exemption No. EA/PR&N 2021-03, and the project is categorically exempt from CEQA due to the fact that it is a minor alteration to an existing facility involving a negligible expansion of use beyond the current use.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution accepting the Briggsmore Avenue and Orangeburg Avenue Pavement Rehabilitation project as complete, releasing securities, releasing payments totaling $7,712,644 to United Pavement Maintenance, Inc., of Hughson, CA., and authorizing the City Clerk to file a Notice of Completion.

Approved by:
_________________________________________
Toby Wells, Director of Engineering Services/
City Engineer
_________________________________________
Joseph P. Lopez, City Manager
Attachments:

1. Resolution

2. CCO Log

3. Project Suspension Forms (3)

4. Notice of Completion
#9..
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1 MODESTO CITY COUNCIL
RESOLUTION NO. 2024-XX

RESOLUTION ACCEPTING THE BRIGGSMORE AVENUE AND

ORANGEBURG AVENUE PAVEMENT REHABILITATION PROJECT AS

COMPLETE, RELEASING SECURITIES, RELEASING PAYMENTS
TOTALING $7,712,644 TO UNITED PAVEMENT MAINTENANCE OF
HUGHSON, CA., AND AUTHORIZING THE CITY CLERK TO FILE A NOTICE

OF COMPLETION
WHEREAS, the pavement rehabilitation on Briggsmore Avenue (McHenry Avenue to Oakdale Road), includes roadway resurfacing, new signage and striping, Americans with Disabilities Act (ADA) upgrades at intersections, removal of McHenry Village entrance from Briggsmore, and signal upgrades (detection cameras) where needed; and
WHEREAS, the pavement rehabilitation on Orangeburg Avenue (Coffee Road to Oakdale Road), includes roadway resurfacing, new signage and striping, ADA upgrades, and minor storm drainage system improvements at various locations; and WHEREAS, ADA improvements to residential neighborhoods include compliant ramps, pedestrian refuges, signage, and striping where needed. Additional work includes installation of curb, gutter, sidewalk, drainage, and lighting on Empire Avenue (Yosemite Boulevard to Tenaya Drive); and
WHEREAS, bids were advertised on May 18, 2022, and were publicly opened on June 28, 2022, pursuant to Modesto Municipal Code Section 8-3.403 and Charter Section 1307, and United Pavement Maintenance, Inc., of Hughson, CA was the lowest responsible bidder; and
WHEREAS, on August 23, 2022, by Resolution 2022-359, Council awarded a contract to United Pavement Maintenance, Inc., in the amount of $7,251,603; and #9..
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2 WHEREAS, the Contractor received the Notice to Proceed with a start date of October 17, 2022. All contract work was completed on January 26, 2024; and WHEREAS, the total project costs were $8,986,803 which included design, construction, and construction administration costs. The total project amount originally budgeted was $9,190,891, which included $7,976,763 for the construction contract and contingency with United Pavement Maintenance, Inc., and WHEREAS, the City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, and updated by Resolution No. 2019-326 on July 9, 2019, established a contract change order authority of eight percent (8%) for construction contracts of this dollar value; and
WHEREAS, however, on August 23, 2022, by Resolution 2022-360, Staff requested authorization to increase the Director’s Authority to 10% ($725,160) due to design build elements in the project; and
WHEREAS, there were ten change orders on this project with an overall increase of $461,041; and
WHEREAS, by accepting this project as complete, the city officially accepts the improvements made and authorizes the Notice of Completion to be filed.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto hereby accepts the Briggsmore Avenue and Orangeburg Avenue Pavement Rehabilitation project as complete, releasing securities releasing payments totaling $7,712,644 to United Pavement Maintenance Inc., of Hughson, CA., and authorizing the City Clerk to file a Notice of Completion.
#9..
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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 11th day of June 2024, 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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CHANGE
ORDER NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: April 29, 2024
TIME
EXT. Approved
2022/20 - Briggsmore Avenue and Orangeburg Avenue Pavement Rehabilitation Project (101246, 101248, 101250) PROJECT NUMBER AND NAME:
01 ROCKWELL REJUVENATION ON EMPIRE/ ONE
ADDITIONAL WORKING DAY (101250)
04/25/23 $9,641.60 1 W.D. No No Yes Yes
02 ELECTRICAL - GALVANIZED PIPE W/ 10 MIL PIPE
TAPE (101246)
04/25/23 $2,233.00 0 W.D. No Yes No Yes
03 UPGRADE 56 PUSH BUTTONS TO TOUCHLESS
TECHNOLOGY (101246)
04/25/23 $3,103.87 0 W.D. No No Yes Yes
04 REPLACEMENT OF 8" SD LINE, DI TO ROCKWELL
RAMP #65 (101248)
04/25/23 $6,545.27 1 W.D. No Yes No Yes
05 MATERIAL DELAY FOR CAST IRON TRUNCATED
DOMES (101246)
05/18/23 $0.00 21 W.D. No Yes No Yes
06 ORANGEBURG CORNER RAMP REVISIONS (101248) 06/26/23 $124,358.10 12 W.D. No No Yes Yes07 Drainage Mod Ramp 41 (101248) 09/22/23 $30,885.31 0 W.D. No Yes No Yes08 Additional Curb Ramps on Coffee Road and 32 Additional Working Days (101246)
03/05/24 $264,503.40 32 W.D. No No Yes Yes
09 Adjust quantities for overages on project per
measurements.(101246, 101248)
03/05/22 $169,670.67 0 W.D. No Yes No Yes
10 Balancing Change Order(101246, 101248, 101250) 03/06/24 -$149,900.35 0 W.D. No Yes No Yes Total Change Orders Processed To Date: $461,040.87
Original Contract Amount: $7,251,603.00IDA To: $725,160.30 Total Working Days Time Extension: 67
Original Director's CCO Authority: $580,128.24IDA Date: 8/23/2022 Total Executed Change Orders To Date: $461,040.87
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CHANGE
ORDER NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: April 29, 2024
TIME
EXT. Approved
#9..
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04/17/2024
04/17/2024
4/18/2024
4/18/24
18-APR-2024
#9..
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#9..
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#9..
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Date: 4/17/2024 13:55 PM
Orangeburg Ave. Pvmt Rehab Ph1 101248
Capital Unsponsored
Organization : CED.Transportation Engineering and
Design
Category : Traffic Circulation Start Date : 06-MAR-2020 Hosting Fund : Measure L - Capital Projects-3300 Type : Major Street Improvements End Date :

Element : Comm Dev Area : Within City Status : APPROVED Classification : Improvements Manager : Soares, Phillip A Const. Code : New or Future Proj Desc : CED - Orangeburg Avenue Pavement Rehabilitation Phase 1 (Coffee Rd to Oakdale Ave). Combo capital and non-capital project.

Revenue

PJTD BDGT
Previous Yr End
PJTD Actual
Previous Yr End
PJTD Available
Previous Yr End
PJTD Budget PJTD Actual PJTD Commit PJTD Available
61410 Transfer In from Fund 1410 3,121,267.00 1,997,171.17 1,124,095.83 3,121,267.00 2,965,540.42 0.00 155,726.58 Total 3,121,267.00 1,997,171.17 1,124,095.83 3,121,267.00 2,965,540.42 0.00 155,726.58 Expenditure

PJTD BDGT
Previous Yr End
PJTD Actual
Previous Yr End
PJTD Available
Previous Yr End
PJTD Budget PJTD Actual PJTD Commit PJTD Available
CA Construction Admin 195,544.00 178,113.17 17,430.83 195,544.00 201,169.24 11,177.94 -16,803.18 CON Construction 2,444,294.00 1,011,886.82 1,432,407.18 2,444,294.00 2,406,759.90 37,534.10 0.00 CTGY-CIP Contingency - CIP 244,429.00 0.00 244,429.00 244,429.00 178,418.53 37,430.58 28,579.89 EDA Eng/Design/Admin 237,000.00 230,618.29 6,381.71 237,000.00 234,006.91 0.00 2,993.09 Total 3,121,267.00 1,420,618.28 1,700,648.72 3,121,267.00 3,020,354.58 86,142.62 14,769.80 Net Total -576,552.89 140,956.78
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04/17/2024
04/17/2024
4/18/2024
4/18/24
18-APR-2024
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Date: 4/17/2024 13:55 PM
Briggsmore-McHenry to Oakdale 101246
Capital Unsponsored
Organization : CED.Transportation Engineering and
Design
Category : Traffic Circulation Start Date : 06-MAR-2020 Hosting Fund : Measure L - Capital Projects-3300 Type : Major Street Improvements End Date :

Element : Comm Dev Area : Within City Status : APPROVED Classification : Improvements Manager : Soares, Phillip A Const. Code : New or Future Proj Desc : CED - Briggsmore Avenue Pavement Rehabilitation (McHenry Avenue to Oakdale Road). Combo capital and non-capital project.

Revenue

PJTD BDGT
Previous Yr End
PJTD Actual
Previous Yr End
PJTD Available
Previous Yr End
PJTD Budget PJTD Actual PJTD Commit PJTD Available
61410 Transfer In from Fund 1410 5,374,090.00 1,800,838.03 3,573,251.97 5,374,090.00 4,961,028.94 0.00 413,061.06 Total 5,374,090.00 1,800,838.03 3,573,251.97 5,374,090.00 4,961,028.94 0.00 413,061.06 Expenditure

PJTD BDGT
Previous Yr End
PJTD Actual
Previous Yr End
PJTD Available
Previous Yr End
PJTD Budget PJTD Actual PJTD Commit PJTD Available
CA Construction Admin 339,124.00 192,815.71 146,308.29 339,124.00 408,572.55 10,730.57 -80,179.12 CCF City Construct Force 0.00 0.00 0.00 10,000.00 128.87 0.00 9,871.13 CON Construction 4,239,060.00 702,943.33 3,536,116.67 4,239,060.00 4,184,668.31 54,391.69 0.00 CTGY-CIP Contingency - CIP 423,906.00 16.11 423,889.89 413,906.00 380,129.75 5,336.87 28,439.38 EDA Eng/Design/Admin 372,000.00 374,332.96 -2,332.96 372,000.00 375,424.62 0.00 -3,424.62 Total 5,374,090.00 1,270,108.11 4,103,981.89 5,374,090.00 5,348,924.10 70,459.13 -45,293.23 Net Total -530,729.92 458,354.29
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04/17/2024
04/17/2024
4/18/2024
4/18/24
18-APR-2024
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#9..
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#9..
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Date: 4/17/2024 13:56 PM
Neighborhood ADA Program 101250
Capital Unsponsored
Organization : CED.Transportation Engineering and
Design
Category : Traffic Circulation Start Date : 01-JUL-2020 Hosting Fund : Measure L - Capital Projects-3300 Type : Maintenance End Date :

Element : Comm Dev Area : Within City Status : APPROVED Classification : Improvements Manager : Bryant, Tamorah Const. Code : New or Future Proj Desc : CED - Neighborhood ADA Improvement Program. Combo capital and non-capital project.

Revenue

PJTD BDGT
Previous Yr End
PJTD Actual
Previous Yr End
PJTD Available
Previous Yr End
PJTD Budget PJTD Actual PJTD Commit PJTD Available
61410 Transfer In from Fund 1410 695,534.00 358,554.01 336,979.99 695,534.00 615,697.09 0.00 79,836.91 Total 695,534.00 358,554.01 336,979.99 695,534.00 615,697.09 0.00 79,836.91 Expenditure

PJTD BDGT
Previous Yr End
PJTD Actual
Previous Yr End
PJTD Available
Previous Yr End
PJTD Budget PJTD Actual PJTD Commit PJTD Available
CA Construction Admin 45,460.00 28,848.64 16,611.36 45,460.00 37,967.76 9,800.16 -2,307.92 CON Construction 568,249.00 307,032.12 261,216.88 568,249.00 553,041.79 15,207.21 0.00 CTGY-CIP Contingency - CIP 56,825.00 9,641.60 47,183.40 56,825.00 9,641.60 0.00 47,183.40 EDA Eng/Design/Admin 25,000.00 13,031.65 11,968.35 25,000.00 16,871.64 0.00 8,128.36 Total 695,534.00 358,554.01 336,979.99 695,534.00 617,522.79 25,007.37 53,003.84 Net Total 0.00 26,833.07
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Requested by
City of Modesto/City Clerk’s Office
Return to City of Modesto/City Clerk’s Office:

PO Box 642
Modesto CA 95353

NOTICE OF COMPLETION
NOTICE IS HEREBY GIVEN that on August 23, 2022, the City of Modesto, PO Box 642, Modesto, California 95353, a Municipal Corporation in the County of Stanislaus, State of California, awarded the contract to United Pavement Maintenance, Inc., of Hughson, CA, for the project titled “Briggsmore Avenue and Orangeburg Avenue Pavement Rehabilitation” located at Briggsmore Avenue and Orangeburg Avenue, and that on January 26, 2024, the said contract as a whole was actually completed by United Pavement Maintence, Inc., and accepted by the Council of the City of Modesto at a regular meeting of the Council held on June 11, 2024.

CITY OF MODESTO
By
Diane Nayares-Perez, City Clerk
I certify under penalty of perjury that the foregoing is true and correct.

Date: By
Modesto, CA Diane Nayares-Perez, City Clerk
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

June 11, 2024
Date: April 17, 2024
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: Monthly Investment Report – March 2024
CONTACT: Calogero Maniscalco, Senior Financial Analyst
[email protected], 209-577-5219
DESCRIPTION:

Consider accepting the Monthly Investment Report for March 2024. (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 March 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 March 31, 2024, the City had a closing market value of $479,570,172 in its investment portfolio. #10..
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City Council, June 11, 2024
Monthly Investment Report – March 2024

Page 2 of 2 ends

FISCAL IMPACT:

In March, the approximate yield of the City’s combined investments was 3.59% (see attachment 3) on a weighted average. For the portfolio of securities alone, the yield to maturity on cost was

3.16%. For comparative purposes, the yields (as of March 31, 2024) of other investments commonly used by public agencies are listed below:

Local Agency Investment Fund: 4.23%
1-Year U.S. Treasury Note: 5.05%
2-Year U.S. Treasury Note: 4.67%

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 been presented to a committee.

CEQA/NEPA REQUIREMENTS:

N/A
RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Motion accepting the Monthly Investment Report for March 2024.

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 49,996,308
Federal Agency 20 36,767,549
Federal Home Loan Bank 1 2,261,715
Federal Home Loan Mortgage Co. 4 6,018,589
Federal Nat’l Mortgage Assc. 15 28,487,245
Federal Agency CMO 23 67,464,907
U.S. Treasury 53 216,130,710
Commercial Paper 1 10,780,818
Negotiable CD 1 3,478,468
Corporate Note 25 60,334,242
Asset-Backed 22 29,563,161
Municipal 9 5,054,009
Total Invested 155 479,570,172
Sector Allocation
March 31, 2024 versus February 29, 2024
Sector March 31, 2024 February 29, 2024 Change in Allocation Permitted by Policy
U.S. Treasury 45.1% 45.5% -0.44% 100%
Federal Agency 7.7% 7.6% 0.04% 100%
Federal Agency CMO 14.1% 12.7% 1.34% 100%
Commercial Paper 2.2% 2.2% 0.01% 25%
Negotiable CD 0.7% 1.4% -0.70% 30%
Corporate Note 12.6% 12.7% -0.12% 30%
Asset-Backed 6.2% 6.2% -0.01% 20%
Municipal 1.1% 1.0% 0.01% 100%
Supranational 0.0% 0.2% -0.21% 30%
CAMP 10.4% 10.3% 0.08% 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 Fed left the target range for the fed funds rate unchanged at the March FOMC meeting, as expected, at the current range of 5.25% to 5.50%. Inflation readings released in March were mixed: the year-overyear change in CPI fell by 0.1% to 3.8% while PCE rose slightly to 2.5% in February. The unemployment rate ticked back down to 3.8% from 3.9%, while wage growth continued to outpace inflation. Freddie Mac has increased their issuance of commercial mortgage-backed securities with maturities less than five years. At yield spreads of around 50 basis points over U.S. Treasuries, they offer an attractive opportunity.

In the Long-Term portfolio we utilized the proceeds of maturing and sold securities to purchase three 5- year agency CMBS, one 5-year corporate note, and two 1-month U.S. Treasury bills. In the Short-Term portfolio we utilized the proceeds of a maturing commercial paper to purchase a 6-month commercial paper.
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Long-Term Portfolio Total Return
March 31, 2024
1 Month Trailing
12 Months
Trailing 36
Months
Trailing 60
Months
Since
Inception5
City of Modesto Investment Portfolio1,2,3 0.43% 3.07% -0.20% 1.32% 2.04% Modesto Performance Benchmark40.36% 2.42% -0.59% 0.96% 1.74% Average Portfolio Yields
March 31, 2024
Past
Month
Past 3
Months
Past
Year
Past 3
Years
Past 5
Years
City of Modesto Investment Portfolio 3.16% 3.12% 2.69% 2.19% 2.05% City of Modesto Short-Term Portfolio 5.35% 5.47% 5.41% - - $83.9
$21.2
$126.1
$75.5
$65.1
$107.6
$-
$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
March 31, 2024

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.

PERFORMANCE
We continue to prefer a neutral duration stance relative to benchmarks as Fed guidance continues to suggest lower short-term rates over the course of the year. Spreads on federal agencies and supranationals remained tight and offer limited value. Investment-grade corporate bond returns have been superb as investor sentiment and market technicals remained supportive. Given tight spreads, we may look to opportunistically trim allocations and become more selective. With a tailwind of optimism around the American consumer, asset-backed securities (ABS) remained a top-of-class performer through March, with auto loan-backed issues leading the pack. While new issuance remains robust, new deals have been met with strong demand and oversubscriptions, contributing to strong returns as spreads have broken through 12-month lows. For the month, both the portfolio and its benchmark produced positive returns, and the portfolio outperformed the benchmark by 7 basis points. Over longer periods, the portfolio continues to produce strong performance and to outperform the benchmark.
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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

0.22%
Fiscal Year-to-Date Income Return

0.83%
Prior 12 Months Income Return

2.09%
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Source: Bloomberg, Federal Reserve, and U.S. Bureau of Economic Analysis as of March 2024.

Economic Summary
Market Reversed Course and Now Expects a Slower Pace of Rate Cuts

1.5%

2.5%

3.5%

4.5%

5.5%

6.5%

7.5%

8.5%

9.5%
Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Consumer Price Index
Year-Over-Year Changes
CPI CPI Forecast Fed Target
Federal Reserve Inflation Target
CPI exceeds expectations

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%

5.5%
Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25
Implied Fed Funds Rate
3-Month Range Fed Funds as of March 28, 2024 Fed Funds as of January 02, 2024 +72 bps
+76 bps
Market reprices expectations
for number of cuts in 2024
in response to hotter than
expected inflation and a
resilient labor market
Inflation Remains Range Bound After Significant Decline in CPI in 2022 and Early 2023
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Source: Bureau of Economic Analysis, U.S. Department of Commerce; as of March 2024.

Economic Summary
Consumer Spending Continues to Drive Strong
Economic Growth
23Q3 Final
23Q4
Atlanta Fed
GDPNow
24Q1 Estimate
GDP 4.90% 3.40% 2.14%
Consumer Spending 2.11% 2.20% 1.30%
Fixed Investment 0.46% 0.61% 0.74%
Gov’t Expenditure 0.99% 0.79% 0.46%
Net Export 0.03% 0.25% -0.16%
Private Inventories 1.27% -0.47% -0.20%
Contribution to GDP by Category

2.6%

2.2% 2.1%

4.9%

3.4%

2.0%
0%
1%
2%
3%
4%
5%
6%
Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24
Forecast
U.S. GDP
Atlanta Fed
GDPNow
Forecast

2.5%
Bloomberg
Forecast
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Source: ICE BofAML 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of 03/31/2024. 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
Corporates and ABS Spreads Trend Slightly Downward

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Asset-Backed Securities AAA Yield Spreads

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Corporate Notes A-AAA Yield Spreads

0.00%

0.10%

0.20%

0.30%

0.40%

0.50%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Federal Agency Yield Spreads
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U.S. Treasury Yields Finished the Month Relatively
Unchanged
Source: Bloomberg as of 03/31/2024.

Economic Summary

5.36%

4.62%

4.21% 4.21% 4.20%

4.34%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
Maturity
U.S. Treasury Yield Curve
March 31, 2024
February 29, 2024
January 31, 2024
3mo 2yr 5yr 7yr 10yr 20yr 30yr
#10..
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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
#10..
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For the Month Ending March 31, 2024
Account Statement
Consolidated Summary Statement
CITY OF MODESTO - Combined Portfolio
Investment Allocation
Investment Type Closing Market Value Percent
Asset-Backed Security 29,563,160.73 6.16
Federal Agency Bond / Note 36,767,548.53 7.67
Corporate Note 54,673,202.94 11.40
Bank Note 5,661,039.34 1.18
Certificate of Deposit 3,478,468.00 0.73
Federal Agency Commercial Mortgage-Backed Security 67,464,907.10 14.07 Commercial Paper 10,780,817.61 2.25
Municipal Bond / Note 5,054,009.05 1.05
U.S. Treasury Bill 1,471,758.10 0.31
U.S. Treasury Bond / Note 214,658,952.35 44.75
CAMP Pool 49,996,308.29 10.43
Total $479,570,172.04 100.00%
Portfolio Summary
and Income
Closing
Portfolio Holdings Market Value
Cash Dividends
PFMAM Managed Account 1,199,388.74 429,573,863.75
CAMP Pool 0.00 49,996,308.29
Total $1,199,388.74 $479,570,172.04
Maturity Distribution (Fixed Income Holdings)
Portfolio Holdings Closing Market Value Percent
51,468,066.39
10,527,031.50

0.00 21,952,634.35
21,238,032.87
132,961,222.94
69,487,427.90
64,288,433.10
107,647,322.99

0.00 10.72

2.19 0.00

4.58 4.43

27.73 14.49

13.41 22.45

0.00 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 $479,570,172.04
840
100.00%
Weighted Average Days to Maturity
Sector Allocation

6.16% ABS

7.67%
Fed Agy Bond /
Note

11.40%
Corporate Note

1.18%
Bank Note

0.73%
Cert of Deposit

14.07%
Federal Agency
Commercial
Mortgage-Backed
Security

2.25%
Commercial Paper

1.05%
Muni Bond / Note

0.31%
US TSY Bill 44.75%
US TSY Bond / Note

10.43%
CAMP Pool
Summary Page 1
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Managed Account Summary Statement For the Month Ending March 31, 2024 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)
$431,169,341.91
(14,854,711.18)
(10,272,660.51)
22,620,530.14

0.00 911,363.39
$429,573,863.75
981,633.00
(20,906.61)
238,662.35
$1,199,388.74
Total
439,949,425.58
1,806,940.33
10,364,820.14
14,855,056.28
889,128.27
(22,638,013.62)
(442,291,859.39)
(1,847,135.29)
Total Accrual Basis Earnings $1,088,362.30
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
14,676,110.23
10,364,820.14
889,128.27
178,946.05
(26,503,925.50)
1,867.60

0.00 Cash Balance
Closing Cash Balance $413,574.49
CITY OF MODESTO - COMBINED PORTFOLIO Page 1
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Portfolio Summary and Statistics For the Month Ending March 31, 2024 CITY OF MODESTO - Combined Portfolio
Account Summary
Description Par Value Market Value Percent
U.S. Treasury Bond / Note 227,695,000.00 214,658,952.35 49.96 U.S. Treasury Bill 1,475,000.00 1,471,758.10 0.34
Municipal Bond / Note 5,280,000.00 5,054,009.05 1.18
Federal Agency Commercial
Mortgage-Backed Security
67,566,105.28 67,464,907.10 15.71
Federal Agency Bond / Note 38,760,000.00 36,767,548.53 8.56 Corporate Note 55,825,000.00 54,673,202.94 12.73
Commercial Paper 11,065,000.00 10,780,817.61 2.51
Certificate of Deposit 3,500,000.00 3,478,468.00 0.81
Bank Note 5,635,000.00 5,661,039.34 1.32
Asset-Backed Security 29,455,292.41 29,563,160.73 6.88
Managed Account Sub-Total 446,256,397.69 429,573,863.75 100.00% Accrued Interest 1,806,940.33
Total Portfolio 446,256,397.69 431,380,804.08
Unsettled Trades 0.00 0.00
Sector Allocation

6.88% ABS

1.32%
Bank Note

0.81%
Cert of Deposit

2.51%
Commercial Paper

12.73%
Corporate Note

8.56%
Fed Agy Bond /
Note

15.71%
Federal Agency
Commercial
Mortgage-Backed
Security

1.18%
Muni Bond / Note

0.34%
US TSY Bill

49.96%
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

7.90%

4.94%

30.95%

16.18%

14.97%

25.06%

0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 938

3.38%

4.81%
CITY OF MODESTO - COMBINED PORTFOLIO Page 2
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Managed Account Issuer Summary For the Month Ending March 31, 2024 CITY OF MODESTO - Combined Portfolio
Credit Quality (S&P Ratings)

2.70%
A

7.49%
A+

1.00%
A2.51%
A-1

0.34%
A-1+

1.62%
AA

75.63%
AA+

0.33%
AA6.73%
AAA

1.65%
NR
Issuer Summary
Issuer of Holdings Percent
Market Value
AMAZON.COM INC 3,354,190.14 0.78
AMERICAN EXPRESS CO 3,116,309.81 0.73
APPLE INC 5,117,200.40 1.19
BANK OF AMERICA CO 11,568,817.50 2.69
BLACKROCK INC 365,204.04 0.09
BRISTOL-MYERS SQUIBB CO 2,082,142.08 0.48
CALIFORNIA DEPARTMENT OF WATER RESOURCES 97,124.00 0.02 CALIFORNIA STATE UNIVERSITY 585,108.00 0.14
CARMAX AUTO OWNER TRUST 279,119.78 0.06
CHASE ISSURANCE 6,413,684.51 1.49
CITIGROUP INC 6,682,882.07 1.56
DEERE & COMPANY 2,570,281.46 0.60
DISCOVER FINANCIAL SERVICES 757,823.52 0.18
FANNIE MAE 31,917,867.38 7.43
FEDERAL HOME LOAN BANKS 2,261,714.70 0.53
FIFTH THIRD AUTO TRUST 2,440,965.72 0.57
FLORIDA STATE BOARD OF ADMIN FIN CORP 1,716,192.00 0.40 FREDDIE MAC 70,052,873.55 16.31
GM FINANCIAL CONSUMER AUTOMOBILE TRUST 364,024.06 0.08
HOME DEPOT INC 3,392,551.65 0.79
HONDA AUTO RECEIVABLES 2,271,061.22 0.53
HYUNDAI AUTO RECEIVABLES 1,463,840.33 0.34
JP MORGAN CHASE & CO 5,801,531.59 1.35
KUBOTA CREDIT OWNER TRUST 892,313.73 0.21
LMA AMERICAS LLC 10,780,817.61 2.51
LOS ANGELES COMMUNITY COLLEGE DISTRICT 875,133.25 0.20
MASTERCARD INC 4,150,696.32 0.97
MICROSOFT CORP 5,753,166.00 1.34
NEW JERSEY TURNPIKE AUTHORITY 473,780.90 0.11
PACCAR FINANCIAL CORP 2,895,159.31 0.67
RABOBANK NEDERLAND 3,478,468.00 0.81
STATE OF MARYLAND 609,980.80 0.14
CITY OF MODESTO - COMBINED PORTFOLIO Page 3
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Managed Account Issuer Summary For the Month Ending March 31, 2024 CITY OF MODESTO - Combined Portfolio
Issuer of Holdings Percent
Market Value
TARGET CORP 338,724.02 0.08
THE BANK OF NEW YORK MELLON CORPORATION 3,200,849.19 0.75 TOYOTA MOTOR CORP 4,733,630.00 1.10
UNITED STATES TREASURY 216,130,710.45 50.30
UNIVERSITY OF CALIFORNIA 696,690.10 0.16
USAA AUTO OWNER TRUST 3,036,238.56 0.71
WAL-MART STORES INC 1,193,956.66 0.28
WELLS FARGO & COMPANY 5,661,039.34 1.32
Total $429,573,863.75 100.00%
CITY OF MODESTO - COMBINED PORTFOLIO Page 4
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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 05/15/2014 2.500% 05/15/2024
912828WJ5 10,565,000.00 AA+ Aaa 10/16/23 10/16/23 10,385,890.23 5.50 100,135.30 10,527,826.27 10,527,031.50

US TREASURY NOTES
DTD 07/31/2022 3.000% 07/31/2024
91282CFA4 10,645,000.00 AA+ Aaa 11/29/23 11/30/23 10,484,909.18 5.31 53,517.45 10,565,610.70 10,561,835.94

US TREASURY NOTES
DTD 10/31/2022 4.375% 10/31/2024
91282CFQ9 10,535,000.00 AA+ Aaa 02/26/24 02/27/24 10,476,975.20 5.21 193,732.57 10,484,962.42 10,480,679.43

US TREASURY NOTES
DTD 02/15/2022 1.500% 02/15/2025
91282CDZ1 365,000.00 AA+ Aaa 04/06/22 04/07/22 352,980.66 2.70 691.90 361,319.44 353,707.81

US TREASURY 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 4,359.89 2,235,449.05 2,228,843.75

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 7,794.49 4,931,456.04 4,706,249.47

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 29,400.82 4,230,828.27 4,119,623.23

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 0.53 943.48 4,323,131.07 4,068,750.00

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 1,007.61 4,480,121.71 4,345,312.50

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 1,091,035.42 1,027,812.50

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 4,521,791.56 4,251,406.25

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 5,264.63 4,969,360.61 4,665,562.50

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 7,282.21 6,872,930.83 6,453,562.50

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 4,202,344.49 3,953,163.85 CITY OF MODESTO - COMBINED PORTFOLIO Page 5
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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 4,635,000.00 AA+ Aaa 04/06/22 04/07/22 4,254,785.16 2.75 5,841.24 4,461,578.68 4,311,273.99

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 0.43 473.90 499,505.24 463,750.00

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 0.45 985.71 1,038,586.37 964,600.00

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 3,540.04 3,702,270.06 3,464,212.50

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 1,508.24 2,381,483.67 2,218,874.88

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 3,142.17 4,869,775.42 4,622,656.00

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 3,629.21 5,682,646.39 5,339,167.68

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 5,014.90 7,625,807.29 7,377,758.98

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 6,978.26 3,318,192.39 3,083,104.85

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 2,019.56 4,456,139.28 4,292,996.33

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 2,608.70 5,926,891.39 5,545,312.80

US TREASURY 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 2,479,575.59 2,297,875.00

US TREASURY 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 4,913,520.98 4,563,320.31

US TREASURY 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 1,401,485.18 1,294,356.25 CITY OF MODESTO - COMBINED PORTFOLIO Page 6
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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 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 4,426,522.04 4,251,568.75

US TREASURY 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 4,582,043.19 4,422,000.00

US TREASURY 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 3,026.09 4,430,398.08 4,241,250.00

US TREASURY 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 4,119,688.29 3,943,650.00

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 34,462.09 4,433,255.53 4,266,618.75

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 26,216.21 9,071,339.30 8,678,325.00

US TREASURY 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 62.16 871,947.50 861,514.11

US TREASURY 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 13,618.68 6,032,415.27 5,755,050.00

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 7,007.42 5,130,584.79 4,897,794.25

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 3,412.09 1,160,978.66 1,120,312.56

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 8,487.57 2,879,257.18 2,786,777.49

US TREASURY 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 5,354,990.12 5,337,968.75

US TREASURY 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 47,074.30 2,742,619.77 2,693,364.71

US TREASURY 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 54,789.97 3,211,010.03 3,134,818.59 CITY OF MODESTO - COMBINED PORTFOLIO Page 7
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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 10/31/2020 0.500% 10/31/2027
91282CAU5 8,775,000.00 AA+ Aaa 01/04/23 01/06/23 7,472,803.71 3.91 18,441.96 7,806,681.21 7,664,414.06

US TREASURY 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 41,624.31 4,263,881.49 4,182,265.63

US TREASURY 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 13,021.15 2,218,587.48 2,154,787.50

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 4,336.20 3,100,967.36 3,018,211.11

US TREASURY 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 9,826.09 2,800,393.06 2,792,335.94

US TREASURY 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 10,330.43 2,939,501.15 2,935,659.37

US TREASURY 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 2,346,288.75 2,269,957.81

US TREASURY 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 2,672,705.25 2,607,707.17

US TREASURY NOTES
DTD 04/30/2023 3.500% 04/30/2028
91282CHA2 2,810,000.00 AA+ Aaa 05/01/23 05/01/23 2,796,937.89 3.60 41,339.42 2,799,341.43 2,725,700.00

US TREASURY 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 96,066.35 6,554,392.63 6,334,100.00 Security Type Sub-Total 227,695,000.00 218,715,557.86 2.90 906,894.45 222,505,415.37 214,658,952.35 U.S. Treasury Bill

US TREASURY BILL
DTD 12/19/2023 0.000% 04/16/2024
912797JN8 1,475,000.00 A-1+ P-1 03/27/24 03/28/24 1,470,904.07 5.28 0.00 1,471,766.37 1,471,758.10 Security Type Sub-Total 1,475,000.00 1,470,904.07 5.28 0.00 1,471,766.37 1,471,758.10 Municipal Bond / Note
CITY OF MODESTO - COMBINED PORTFOLIO Page 8
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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
Municipal Bond / Note

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 0.52 527.00 619,985.46 609,980.80

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 1,712.50 600,000.00 585,108.00

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 97,124.00

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 0.81 733.87 220,174.07 209,961.40

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 1,701.25 510,000.00 486,728.70

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 1,588.23 505,930.86 481,487.20

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 1,234,704.80

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 1,191.71 925,000.00 875,133.25

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 1,321.84 505,000.00 473,780.90 Security Type Sub-Total 5,280,000.00 5,284,193.15 0.92 13,035.84 5,281,090.39 5,054,009.05 Federal Agency Commercial Mortgage-Backed Security
FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 2,456,755.06 AA+ Aaa 05/19/23 05/24/23 2,381,133.07 4.31 6,852.30 2,399,963.37 2,372,178.71 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 3,813,017.04 3,840,798.80

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 2,167,311.72 2,182,851.51 CITY OF MODESTO - COMBINED PORTFOLIO Page 9
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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 Commercial Mortgage-Backed Security

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 3,338,117.04 3,370,136.15 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
3137HAMR4 3,628,208.79 AA+ Aaa 09/20/23 09/28/23 3,571,271.30 5.19 14,512.84 3,577,046.48 3,615,789.61 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
3137HAMG8 1,890,528.84 AA+ Aaa 09/07/23 09/14/23 1,862,255.97 5.01 7,325.80 1,865,266.15 1,882,551.94 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 2,802,424.79 AA+ Aaa 07/19/23 07/27/23 2,802,354.73 4.78 11,155.99 2,802,364.58 2,786,878.56 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 3,529,924.68 3,510,187.63 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 3,448,753.82 3,430,622.51 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 2,138,187.80 AA+ Aaa 09/19/23 09/28/23 2,138,177.10 5.27 9,393.77 2,138,178.11 2,164,575.82 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 3,749,430.79 3,788,298.05 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 3,850,000.00 AA+ Aaa 10/11/23 10/19/23 3,765,546.40 5.26 15,207.50 3,772,642.09 3,850,432.24 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 2,890,000.00 AA+ Aaa 10/25/23 10/31/23 2,797,858.13 5.60 11,680.42 2,804,898.82 2,903,988.73 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 3,758,760.00 3,811,398.63 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 1,465,000.00 AA+ Aaa 11/14/23 11/21/23 1,460,764.69 5.14 6,188.40 1,461,044.32 1,485,071.95 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 2,125,000.00 AA+ Aaa 11/28/23 12/07/23 2,118,894.88 4.93 8,606.25 2,119,253.95 2,137,037.19 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
3137HBCF9 1,935,000.00 AA+ Aaa 12/11/23 12/21/23 1,953,069.03 4.78 8,062.50 1,952,139.99 1,957,076.92 CITY OF MODESTO - COMBINED PORTFOLIO Page 10
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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 Commercial Mortgage-Backed Security
FHMS K513 A2
DTD 01/01/2024 4.724% 12/01/2028
3137HBFY5 2,190,000.00 AA+ Aaa 01/10/24 01/18/24 2,211,875.91 4.50 8,621.30 2,211,051.22 2,192,114.66 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 2,220,000.00 AA+ Aaa 02/01/24 02/08/24 2,242,197.78 4.34 8,458.20 2,241,588.01 2,207,882.75 FHMS K518 A2
DTD 03/01/2024 5.400% 01/01/2029
3137HC2L5 2,715,000.00 AA+ Aaa 03/19/24 03/28/24 2,780,553.68 4.83 12,217.50 2,780,421.93 2,802,819.77 FHMS K517 A2
DTD 03/01/2024 5.355% 01/01/2029
3137HC2C5 3,355,000.00 AA+ Aaa 03/05/24 03/14/24 3,455,603.03 4.66 14,971.69 3,454,696.44 3,447,125.31 FHMS K515 A2
DTD 02/01/2024 5.400% 01/01/2029
3137HBPD0 3,750,000.00 AA+ Aaa 02/14/24 02/22/24 3,851,025.00 4.78 16,875.00 3,849,054.41 3,855,598.20 FHMS K516 A2
DTD 03/01/2024 5.477% 01/01/2029
3137HBPM0 3,750,000.00 AA+ Aaa 02/29/24 03/07/24 3,862,488.75 4.78 17,115.63 3,861,090.56 3,869,491.46 Security Type Sub-Total 67,566,105.28 66,948,270.57 4.89 259,510.38 67,096,015.52 67,464,907.10 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 3,520,353.84 3,405,909.50

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 1,306.67 641,693.84 620,313.60

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 2,367,563.89 2,261,714.70

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 1,311.20 475,155.31 453,447.83

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 1,912,118.28 1,823,337.57

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 3,193,607.16 3,050,033.27

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 3,345,526.72 3,193,227.31 CITY OF MODESTO - COMBINED PORTFOLIO Page 11
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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 06/19/2020 0.500% 06/17/2025
3135G04Z3 200,000.00 AA+ Aaa 09/17/20 09/18/20 200,712.00 0.42 288.89 200,181.59 189,453.40

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 1,076,298.63 1,018,312.02

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 1,191,965.95 1,127,247.73

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 3,673,156.58 3,481,206.23

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 3,824,201.42 3,618,559.94

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 2,217,114.88 2,092,500.96

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 0.49 168.75 449,271.24 422,407.80

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 0.44 206.25 549,507.29 516,276.20

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 2,356,905.76 2,215,294.24

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 10.83 129,949.44 121,742.40

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 3,396,970.20 3,184,032.00

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 2,039,749.31 1,904,574.60

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 2,212,452.57 2,067,957.23 Security Type Sub-Total 38,760,000.00 38,868,702.00 0.56 70,780.89 38,773,743.90 36,767,548.53 CITY OF MODESTO - COMBINED PORTFOLIO Page 12
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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

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 1,815,215.87 1,756,999.58

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 1,773,539.50 1,709,347.20 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 3,428,124.05 3,354,190.14

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 2,375.87 865,000.00 857,425.20

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 2,222,949.65 2,082,142.08

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 3,465,295.80 3,200,849.19

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 1,981,618.43

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 3,016,585.81 2,844,693.00

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 3,749,762.14 3,785,606.25

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 2,475,127.01 2,441,349.12

JP MORGAN CORP NOTES (CALLABLE)
DTD 12/08/2023 5.110% 12/08/2026
48125LRU8 3,500,000.00 A+ Aa2 12/05/23 12/08/23 3,500,000.00 5.11 56,139.03 3,500,000.00 3,503,185.00

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 1,502.58 364,652.01 338,724.02 CITY OF MODESTO - COMBINED PORTFOLIO Page 13
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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

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 2,940,945.78 2,908,473.00

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 3,457,360.73 3,392,551.65

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 1,419,460.82 1,440,921.39

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 21,939.67 1,217,763.16 1,193,956.66

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 5,213,459.25 5,117,200.40

JOHN DEERE CAPITAL CORP CORPORATE
NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 495,000.00 A A1 07/13/23 07/14/23 501,732.00 4.64 5,240.81 500,766.60 497,960.60

JOHN DEERE CAPITAL CORP CORPORATE
NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 895,000.00 A A1 07/14/23 07/18/23 903,690.45 4.73 9,475.81 902,460.53 900,352.99

JOHN DEERE CAPITAL CORP CORPORATE
NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 1,165,000.00 A A1 07/11/23 07/14/23 1,163,264.15 4.98 12,334.44 1,163,513.08 1,171,967.87

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 1,123,788.83 1,138,159.73

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 2,795,610.01 2,843,682.80

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 5,846,642.60 CITY OF MODESTO - COMBINED PORTFOLIO Page 14
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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

BLACKROCK FUNDING INC CORPORATE

NOTES (C
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 365,000.00 AA- Aa3 03/05/24 03/14/24 364,339.35 4.74 810.10 364,345.09 365,204.04 Security Type Sub-Total 55,825,000.00 55,405,965.60 3.83 397,134.78 55,450,725.72 54,673,202.94 Commercial Paper

LMA AMERICAS LLC COMM PAPER
DTD 03/07/2024 0.000% 09/16/2024
53944QJG6 11,065,000.00 A-1 P-1 03/08/24 03/08/24 10,755,770.13 5.39 0.00 10,794,423.86 10,780,817.61 Security Type Sub-Total 11,065,000.00 10,755,770.13 5.39 0.00 10,794,423.86 10,780,817.61 Certificate of Deposit

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 36,547.78 3,500,000.00 3,478,468.00 Security Type Sub-Total 3,500,000.00 3,500,000.00 5.08 36,547.78 3,500,000.00 3,478,468.00 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 46,066.13 5,624,448.85 5,661,039.34 Security Type Sub-Total 5,635,000.00 5,621,645.05 5.54 46,066.13 5,624,448.85 5,661,039.34 Asset-Backed Security
HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
43813GAC5 42,412.37 NR Aaa 02/17/21 02/24/21 42,411.59 0.27 3.18 42,412.17 42,170.56 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 80,419.68 AAA NR 04/20/21 04/28/21 80,411.22 0.38 13.58 80,416.87 79,748.95 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
14316NAC3 66,267.76 AAA NR 01/20/21 01/27/21 66,254.66 0.34 10.01 66,263.18 65,393.03 CITY OF MODESTO - COMBINED PORTFOLIO Page 15
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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
TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
89239BAC5 436,437.36 AAA Aaa 09/21/21 09/27/21 436,402.56 0.43 83.41 436,422.87 426,109.24 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 217,282.95 AAA NR 04/13/21 04/21/21 217,236.13 0.52 50.22 217,264.71 213,726.75 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 247,472.29 AAA NR 11/09/21 11/17/21 247,417.06 0.75 81.39 247,446.22 242,019.93 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 0.58 199.78 774,917.95 757,823.52 CHAIT 2024-A1 A
DTD 01/31/2024 4.600% 01/15/2027
161571HV9 3,390,000.00 AAA NR 01/24/24 01/31/24 3,389,483.70 4.61 6,930.67 3,389,511.41 3,372,167.92 CCCIT 2023-A1 A1
DTD 12/01/2023 5.230% 12/01/2027
17305EGW9 835,000.00 AAA Aaa 12/04/23 12/11/23 834,895.29 5.23 14,556.83 834,902.61 836,239.47 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 2,088.53 889,809.52 892,313.73 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 1,464,952.67 1,470,768.58 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 2,219,604.45 2,228,890.66 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 1,582.40 689,864.95 690,938.95 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 3,014,527.23 3,036,238.56 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
06054YAC1 2,925,000.00 NR Aaa 11/15/23 11/21/23 2,924,947.06 5.74 7,462.00 2,924,950.77 2,961,130.69 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 765,000.00 AAA NR 11/07/23 11/14/23 764,917.53 5.54 1,883.60 764,923.38 772,899.01 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 2,424,868.00 2,440,965.72 CITY OF MODESTO - COMBINED PORTFOLIO Page 16
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Managed Account Detail of Securities Held For the Month Ending March 31, 2024 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
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 3,019,244.09 3,041,516.59 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 7,182.53 3,089,875.02 3,116,309.81 HART 2023-C A3
DTD 11/13/2023 5.540% 10/16/2028
44918CAD4 1,130,000.00 AAA NR 11/03/23 11/13/23 1,129,851.41 5.54 2,782.31 1,129,861.61 1,142,071.45 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 1,365,000.00 NR Aaa 12/07/23 12/14/23 1,364,816.68 4.98 3,021.20 1,364,826.57 1,369,693.55 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
36268GAD7 365,000.00 NR Aaa 01/09/24 01/17/24 364,926.60 4.85 737.60 364,929.35 364,024.06 Security Type Sub-Total 29,455,292.41 29,451,258.16 5.01 76,970.08 29,451,795.60 29,563,160.73 Managed Account Sub-Total 446,256,397.69 436,022,266.59 3.38 1,806,940.33 439,949,425.58 429,573,863.75 $446,256,397.69 $436,022,266.59 3.38% $1,806,940.33 $439,949,425.58 $429,573,863.75 $431,380,804.08
$1,806,940.33
Total Investments
Accrued Interest
Securities Sub-Total
CITY OF MODESTO - COMBINED PORTFOLIO Page 17
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Managed Account Fair Market Value & Analytics For the Month Ending March 31, 2024 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 912828WJ5 10,565,000.00 RBS 99.64 10,527,031.50 141,141.27 (794.77) DTD 05/15/2014 2.500% 05/15/2024

0.13 5.38
US TREASURY NOTES 91282CFA4 10,645,000.00 CITIGRP 99.22 10,561,835.94 76,926.76 (3,774.76) DTD 07/31/2022 3.000% 07/31/2024

0.34 5.35
US TREASURY NOTES 91282CFQ9 10,535,000.00 NOMURA 99.48 10,480,679.43 3,704.23 (4,282.99) DTD 10/31/2022 4.375% 10/31/2024

0.57 5.28
US TREASURY NOTES 91282CDZ1 365,000.00 RBS 96.91 353,707.81 727.15 (7,611.63) DTD 02/15/2022 1.500% 02/15/2025

0.87 5.15
US TREASURY NOTES 91282CDZ1 2,300,000.00 BNP_PAR 96.91 2,228,843.75 45,640.62 (6,605.30) DTD 02/15/2022 1.500% 02/15/2025

0.87 5.15
US TREASURY NOTES 912828ZL7 4,945,000.00 JPM_CHA 95.17 4,706,249.47 (188,527.87) (225,206.57) DTD 04/30/2020 0.375% 04/30/2025

1.08 5.01
US TREASURY NOTES 912828XZ8 4,230,000.00 BARCLAY 97.39 4,119,623.23 (112,524.82) (111,205.04) DTD 07/02/2018 2.750% 06/30/2025

1.23 4.92
US TREASURY NOTES 91282CAJ0 4,340,000.00 WELLS_F 93.75 4,068,750.00 (222,764.06) (254,381.07) DTD 08/31/2020 0.250% 08/31/2025

1.41 4.87
US TREASURY NOTES 91282CAJ0 4,635,000.00 BNP_PAR 93.75 4,345,312.50 82,379.88 (134,809.21) DTD 08/31/2020 0.250% 08/31/2025

1.41 4.87
US TREASURY NOTES 91282CAM3 1,100,000.00 BNP_PAR 93.44 1,027,812.50 (48,210.94) (63,222.92) DTD 09/30/2020 0.250% 09/30/2025

1.50 4.84
US TREASURY NOTES 91282CAM3 4,550,000.00 HSBC 93.44 4,251,406.25 (222,167.97) (270,385.31) DTD 09/30/2020 0.250% 09/30/2025

1.50 4.84
US TREASURY NOTES 91282CAT8 5,010,000.00 HSBC 93.13 4,665,562.50 (228,776.95) (303,798.11) DTD 10/31/2020 0.250% 10/31/2025

1.58 4.81
US TREASURY NOTES 91282CAT8 6,930,000.00 TD 93.13 6,453,562.50 (329,716.41) (419,368.33) DTD 10/31/2020 0.250% 10/31/2025

1.58 4.81
US TREASURY NOTES 91282CAZ4 4,250,000.00 WELLS_F 93.02 3,953,163.85 (180,127.17) (249,180.64) DTD 11/30/2020 0.375% 11/30/2025

1.66 4.78
US TREASURY NOTES 91282CAZ4 4,635,000.00 WELLS_F 93.02 4,311,273.99 56,488.83 (150,304.69) DTD 11/30/2020 0.375% 11/30/2025

1.66 4.78
US TREASURY NOTES 91282CBC4 500,000.00 HSBC 92.75 463,750.00 (34,863.28) (35,755.24) DTD 12/31/2020 0.375% 12/31/2025

1.74 4.74
US TREASURY NOTES 91282CBC4 1,040,000.00 CITIGRP 92.75 964,600.00 (71,378.13) (73,986.37) DTD 12/31/2020 0.375% 12/31/2025

1.74 4.74
CITY OF MODESTO - COMBINED PORTFOLIO Page 18
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Managed Account Fair Market Value & Analytics For the Month Ending March 31, 2024 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 3,735,000.00 JPM_CHA 92.75 3,464,212.50 (182,227.15) (238,057.56) DTD 12/31/2020 0.375% 12/31/2025

1.74 4.74
US TREASURY NOTES 91282CBH3 2,400,000.00 BNP_PAR 92.45 2,218,874.88 (135,000.12) (162,608.79) DTD 01/31/2021 0.375% 01/31/2026

1.83 4.72
US TREASURY NOTES 91282CBH3 5,000,000.00 NOMURA 92.45 4,622,656.00 (96,875.25) (247,119.42) DTD 01/31/2021 0.375% 01/31/2026

1.83 4.72
US TREASURY NOTES 91282CBH3 5,775,000.00 MORGAN_ 92.45 5,339,167.68 (231,000.29) (343,478.71) DTD 01/31/2021 0.375% 01/31/2026

1.83 4.72
US TREASURY NOTES 91282CBH3 7,980,000.00 JPM_CHA 92.45 7,377,758.98 120,946.48 (248,048.31) DTD 01/31/2021 0.375% 01/31/2026

1.83 4.72
US TREASURY NOTES 9128286F2 3,210,000.00 GOLDMAN 96.05 3,083,104.85 (409,776.40) (235,087.54) DTD 02/28/2019 2.500% 02/28/2026

1.88 4.68
US TREASURY NOTES 91282CBQ3 4,645,000.00 NOMURA 92.42 4,292,996.33 33,023.28 (163,142.95) DTD 02/28/2021 0.500% 02/28/2026

1.91 4.68
US TREASURY NOTES 91282CBQ3 6,000,000.00 WELLS_F 92.42 5,545,312.80 (292,968.45) (381,578.59) DTD 02/28/2021 0.500% 02/28/2026

1.91 4.68
US TREASURY NOTES 91282CBT7 2,480,000.00 WELLS_F 92.66 2,297,875.00 (181,156.25) (181,700.59) DTD 03/31/2021 0.750% 03/31/2026

1.99 4.64
US TREASURY NOTES 91282CBT7 4,925,000.00 MORGAN_ 92.66 4,563,320.31 (333,399.42) (350,200.67) DTD 03/31/2021 0.750% 03/31/2026

1.99 4.64
US TREASURY NOTES 91282CCF6 1,405,000.00 MERRILL 92.13 1,294,356.25 (102,630.86) (107,128.93) DTD 05/31/2021 0.750% 05/31/2026

2.15 4.61
US TREASURY NOTES 91282CCF6 4,615,000.00 NOMURA 92.13 4,251,568.75 (1,983.01) (174,953.29) DTD 05/31/2021 0.750% 05/31/2026

2.15 4.61
US TREASURY NOTES 91282CCF6 4,800,000.00 CITIGRP 92.13 4,422,000.00 22,875.00 (160,043.19) DTD 05/31/2021 0.750% 05/31/2026

2.15 4.61
US TREASURY NOTES 91282CCW9 4,640,000.00 RBC 91.41 4,241,250.00 (16,856.25) (189,148.08) DTD 08/31/2021 0.750% 08/31/2026

2.40 4.55
US TREASURY NOTES 91282CCZ2 4,310,000.00 RBC 91.50 3,943,650.00 (24,748.83) (176,038.29) DTD 09/30/2021 0.875% 09/30/2026

2.48 4.51
US TREASURY NOTES 912828U24 4,545,000.00 RBC 93.88 4,266,618.75 (89,302.15) (166,636.78) DTD 11/15/2016 2.000% 11/15/2026

2.55 4.50
US TREASURY NOTES 912828V98 9,220,000.00 JPM_CHA 94.13 8,678,325.00 (303,251.56) (393,014.30) DTD 02/15/2017 2.250% 02/15/2027

2.79 4.45
CITY OF MODESTO - COMBINED PORTFOLIO Page 19
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Managed Account Fair Market Value & Analytics For the Month Ending March 31, 2024 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 91282CEF4 910,000.00 BARCLAY 94.67 861,514.11 6,540.67 (10,433.39) DTD 03/31/2022 2.500% 03/31/2027

2.91 4.42
US TREASURY NOTES 912828ZN3 6,480,000.00 NOMURA 88.81 5,755,050.00 (36,450.00) (277,365.27) DTD 04/30/2020 0.500% 04/30/2027

3.05 4.42
US TREASURY NOTES 912828ZV5 5,545,000.00 WELLS_F 88.33 4,897,794.25 (22,960.05) (232,790.54) DTD 06/30/2020 0.500% 06/30/2027

3.22 4.39
US TREASURY NOTES 9128282R0 1,200,000.00 BNP_PAR 93.36 1,120,312.56 (22,312.44) (40,666.10) DTD 08/15/2017 2.250% 08/15/2027

3.26 4.39
US TREASURY NOTES 9128282R0 2,985,000.00 HSBC 93.36 2,786,777.49 (43,259.03) (92,479.69) DTD 08/15/2017 2.250% 08/15/2027

3.26 4.39
US TREASURY NOTES 91282CFM8 5,380,000.00 MERRILL 99.22 5,337,968.75 (6,935.16) (17,021.37) DTD 09/30/2022 4.125% 09/30/2027

3.29 4.37
US TREASURY NOTES 91282CFU0 2,715,000.00 NOMURA 99.20 2,693,364.71 (59,390.76) (49,255.06) DTD 10/31/2022 4.125% 10/31/2027

3.31 4.37
US TREASURY NOTES 91282CFU0 3,160,000.00 JPM_CHA 99.20 3,134,818.59 (94,676.72) (76,191.44) DTD 10/31/2022 4.125% 10/31/2027

3.31 4.37
US TREASURY NOTES 91282CAU5 8,775,000.00 WELLS_F 87.34 7,664,414.06 191,610.35 (142,267.15) DTD 10/31/2020 0.500% 10/31/2027

3.54 4.35
US TREASURY NOTES 91282CGC9 4,250,000.00 NOMURA 98.41 4,182,265.63 (84,667.96) (81,615.86) DTD 12/31/2022 3.875% 12/31/2027

3.49 4.34
US TREASURY NOTES 91282CGH8 2,220,000.00 BNP_PAR 97.06 2,154,787.50 (63,478.13) (63,799.98) DTD 01/31/2023 3.500% 01/31/2028

3.60 4.34
US TREASURY NOTES 91282CBJ9 3,450,000.00 HSBC 87.48 3,018,211.11 23,449.39 (82,756.25) DTD 01/31/2021 0.750% 01/31/2028

3.78 4.33
US TREASURY NOTES 91282CGP0 2,825,000.00 TD 98.84 2,792,335.94 (1,324.22) (8,057.12) DTD 02/28/2023 4.000% 02/29/2028

3.65 4.32
US TREASURY NOTES 91282CGP0 2,970,000.00 JPM_CHA 98.84 2,935,659.37 4,524.60 (3,841.78) DTD 02/28/2023 4.000% 02/29/2028

3.65 4.32
US TREASURY NOTES 91282CBS9 2,555,000.00 BNP_PAR 88.84 2,269,957.81 (29,442.39) (76,330.94) DTD 03/31/2021 1.250% 03/31/2028

3.91 4.32
US TREASURY NOTES 91282CGT2 2,675,000.00 RBS 97.48 2,607,707.17 (64,471.54) (64,998.08) DTD 03/31/2023 3.625% 03/31/2028

3.76 4.32
US TREASURY NOTES 91282CHA2 2,810,000.00 BARCLAY 97.00 2,725,700.00 (71,237.89) (73,641.43) DTD 04/30/2023 3.500% 04/30/2028

3.78 4.31
CITY OF MODESTO - COMBINED PORTFOLIO Page 20
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Managed Account Fair Market Value & Analytics For the Month Ending March 31, 2024 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 91282CHA2 6,530,000.00 GOLDMAN 97.00 6,334,100.00 (225,744.14) (220,292.63) DTD 04/30/2023 3.500% 04/30/2028

3.78 4.31
Security Type Sub-Total 227,695,000.00 214,658,952.35 (4,056,605.51) (7,846,463.02) 2.11 4.70 U.S. Treasury Bill
US TREASURY BILL 912797JN8 1,475,000.00 MORGAN_ 99.78 1,471,758.10 854.03 (8.27) DTD 12/19/2023 0.000% 04/16/2024

0.05 4.96
Security Type Sub-Total 1,475,000.00 1,471,758.10 854.03 (8.27) 0.05 4.96 Municipal Bond / Note
MD ST TXBL GO BONDS 574193TQ1 620,000.00 JPM_CHA 98.38 609,980.80 (9,845.60) (10,004.66) DTD 08/05/2020 0.510% 08/01/2024

0.34 5.40
CA ST UNIV TXBL REV BONDS 13077DMK5 600,000.00 GOLDMAN 97.52 585,108.00 (14,892.00) (14,892.00) DTD 09/17/2020 0.685% 11/01/2024

0.58 5.03
CA ST DEPT WTR RES WTR SYS TXBL REV 13067WRB0 100,000.00 MORGAN_ 97.12 97,124.00 (2,876.00) (2,876.00) BNDS
DTD 08/06/2020 0.560% 12/01/2024

0.67 4.98
UNIV OF CAL TXBL REV BONDS 91412HGE7 220,000.00 JPM_CHA 04/15/25 95.44 209,961.40 (10,835.00) (10,212.67) DTD 07/16/2020 0.883% 05/15/2025

1.04 5.11
UNIV OF CAL TXBL REV BONDS 91412HGE7 510,000.00 JPM_CHA 04/15/25 95.44 486,728.70 (23,271.30) (23,271.30) DTD 07/16/2020 0.883% 05/15/2025

1.04 5.11
FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 505,000.00 MERRILL 95.34 481,487.20 (27,083.15) (24,443.66) DTD 09/16/2020 1.258% 07/01/2025

1.24 5.14
FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 1,295,000.00 MERRILL 95.34 1,234,704.80 (60,295.20) (60,295.20) DTD 09/16/2020 1.258% 07/01/2025

1.24 5.14
LOS ANGELES CCD, CA TXBL GO BONDS 54438CYK2 925,000.00 MERRILL 94.61 875,133.25 (49,866.75) (49,866.75) DTD 11/10/2020 0.773% 08/01/2025

1.33 4.99
NJ TURNPIKE AUTHORITY TXBL REV 646140DP5 505,000.00 CITIGRP 93.82 473,780.90 (31,219.10) (31,219.10) BONDS
DTD 02/04/2021 1.047% 01/01/2026

1.74 4.76
Security Type Sub-Total 5,280,000.00 5,054,009.05 (230,184.10) (227,081.34) 1.08 5.09 CITY OF MODESTO - COMBINED PORTFOLIO Page 21
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Managed Account Fair Market Value & Analytics For the Month Ending March 31, 2024 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 K061 A2 3137BTUM1 2,456,755.06 CITIGRP 96.56 2,372,178.71 (8,954.36) (27,784.66) DTD 01/30/2017 3.347% 11/01/2026

2.34 4.76
FHMS K064 A2 3137BXQY1 4,000,000.00 MORGAN_ 96.02 3,840,798.80 67,673.80 27,781.76 DTD 05/15/2017 3.224% 03/01/2027

2.63 4.69
FHLMC MULTIFAMILY STRUCTURED P 3137F1G44 2,275,000.00 CITIGRP 95.95 2,182,851.51 37,864.21 15,539.79 DTD 07/01/2017 3.243% 04/01/2027

2.77 4.69
FHLMC MULTIFAMILY STRUCTURED P 3137F2LJ3 3,530,000.00 CANT_FI 95.47 3,370,136.15 69,034.59 32,019.11 DTD 08/01/2017 3.117% 06/01/2027

2.87 4.66
FHMS K507 A1 3137HAMR4 3,628,208.79 MERRILL 99.66 3,615,789.61 44,518.31 38,743.13 DTD 09/01/2023 4.800% 04/01/2028

3.16 4.89
FHMS K506 A1 3137HAMG8 1,890,528.84 WELLS_F 99.58 1,882,551.94 20,295.97 17,285.79 DTD 09/01/2023 4.650% 05/01/2028

3.39 4.76
FHMS KJ46 A1 3137HAD45 2,802,424.79 JPM_CHA 99.45 2,786,878.56 (15,476.17) (15,486.02) DTD 07/01/2023 4.777% 06/01/2028

2.89 4.92
FHMS K505 A2 3137HACX2 3,500,000.00 JPM_CHA 100.29 3,510,187.63 (24,770.37) (19,737.05) DTD 07/01/2023 4.819% 06/01/2028

3.66 4.74
FNA 2023-M6 A2 3136BQDE6 3,500,000.00 JPM_CHA 98.02 3,430,622.51 (10,041.55) (18,131.31) DTD 07/01/2023 4.190% 07/01/2028

3.81 4.71
FHMS KJ47 A1 3137HAMN3 2,138,187.80 JPM_CHA 101.23 2,164,575.82 26,398.72 26,397.71 DTD 09/01/2023 5.272% 08/01/2028

3.12 4.96
FHMS K506 A2 3137HAMH6 3,800,000.00 WELLS_F 99.69 3,788,298.05 44,511.45 38,867.26 DTD 09/01/2023 4.650% 08/01/2028

3.80 4.73
FHMS K508 A2 3137HAQ74 3,850,000.00 BMO 100.01 3,850,432.24 84,885.84 77,790.15 DTD 10/01/2023 4.740% 08/01/2028

3.82 4.74
FHMS K509 A2 3137HAST4 2,890,000.00 MORGAN_ 100.48 2,903,988.73 106,130.60 99,089.91 DTD 10/01/2023 4.850% 09/01/2028

3.89 4.73
FHMS K507 A2 3137HAMS2 3,800,000.00 MERRILL 100.30 3,811,398.63 56,820.03 52,638.63 DTD 09/01/2023 4.800% 09/01/2028

3.85 4.72
FHMS K510 A2 3137HB3D4 1,465,000.00 JPM_CHA 101.37 1,485,071.95 24,307.26 24,027.63 DTD 11/01/2023 5.069% 10/01/2028

3.91 4.73
FHMS K511 A2 3137HB3G7 2,125,000.00 MERRILL 100.57 2,137,037.19 18,142.31 17,783.24 DTD 12/01/2023 4.860% 10/01/2028

3.95 4.72
FHMS K512 A2 3137HBCF9 1,935,000.00 JPM_CHA 101.14 1,957,076.92 4,007.89 4,936.93 DTD 12/01/2023 5.000% 11/01/2028

3.96 4.72
CITY OF MODESTO - COMBINED PORTFOLIO Page 22
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Managed Account Fair Market Value & Analytics For the Month Ending March 31, 2024 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 K513 A2 3137HBFY5 2,190,000.00 BMO 100.10 2,192,114.66 (19,761.25) (18,936.56) DTD 01/01/2024 4.724% 12/01/2028

4.08 4.70
FHMS K514 A2 3137HBLV4 2,220,000.00 JPM_CHA 99.45 2,207,882.75 (34,315.03) (33,705.26) DTD 02/01/2024 4.572% 12/01/2028

4.04 4.70
FHMS K518 A2 3137HC2L5 2,715,000.00 JPM_CHA 103.23 2,802,819.77 22,266.09 22,397.84 DTD 03/01/2024 5.400% 01/01/2029

4.13 4.64
FHMS K517 A2 3137HC2C5 3,355,000.00 MERRILL 102.75 3,447,125.31 (8,477.72) (7,571.13) DTD 03/01/2024 5.355% 01/01/2029

4.15 4.71
FHMS K515 A2 3137HBPD0 3,750,000.00 WELLS_F 102.82 3,855,598.20 4,573.20 6,543.79 DTD 02/01/2024 5.400% 01/01/2029

4.05 4.74
FHMS K516 A2 3137HBPM0 3,750,000.00 MORGAN_ 103.19 3,869,491.46 7,002.71 8,400.90 DTD 03/01/2024 5.477% 01/01/2029

4.09 4.73
Security Type Sub-Total 67,566,105.28 67,464,907.10 516,636.53 368,891.58 3.59 4.74 Federal Agency Bond / Note
FANNIE MAE NOTES 3135G0X24 3,500,000.00 CITIGRP 97.31 3,405,909.50 (222,225.50) (114,444.34) DTD 01/10/2020 1.625% 01/07/2025

0.77 5.23
FREDDIE MAC NOTES 3137EAEP0 640,000.00 WELLS_FA 96.92 620,313.60 (29,363.20) (21,380.24) DTD 02/14/2020 1.500% 02/12/2025

0.86 5.17
FEDERAL HOME LOAN BANK NOTES 3130AJHU6 2,370,000.00 CITIGRP 95.43 2,261,714.70 (96,530.10) (105,849.19) DTD 04/16/2020 0.500% 04/14/2025

1.03 5.07
FANNIE MAE NOTES 3135G03U5 475,000.00 WELLS_F 95.46 453,447.83 (22,283.67) (21,707.48) DTD 04/24/2020 0.625% 04/22/2025

1.06 5.07
FANNIE MAE NOTES 3135G03U5 1,910,000.00 HSBC 95.46 1,823,337.57 (96,441.63) (88,780.71) DTD 04/24/2020 0.625% 04/22/2025

1.06 5.07
FANNIE MAE NOTES 3135G03U5 3,195,000.00 CITIGRP 95.46 3,050,033.27 (138,385.03) (143,573.89) DTD 04/24/2020 0.625% 04/22/2025

1.06 5.07
FANNIE MAE NOTES 3135G03U5 3,345,000.00 WELLS_F 95.46 3,193,227.31 (154,247.99) (152,299.41) DTD 04/24/2020 0.625% 04/22/2025

1.06 5.07
FANNIE MAE NOTES 3135G04Z3 200,000.00 WELLS_F 94.73 189,453.40 (11,258.60) (10,728.19) DTD 06/19/2020 0.500% 06/17/2025

1.21 5.03
FANNIE MAE NOTES 3135G04Z3 1,075,000.00 NOMURA 94.73 1,018,312.02 (61,729.73) (57,986.61) DTD 06/19/2020 0.500% 06/17/2025

1.21 5.03
CITY OF MODESTO - COMBINED PORTFOLIO Page 23
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Managed Account Fair Market Value & Analytics For the Month Ending March 31, 2024 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
FANNIE MAE NOTES 3135G04Z3 1,190,000.00 RBS 94.73 1,127,247.73 (69,975.57) (64,718.22) DTD 06/19/2020 0.500% 06/17/2025

1.21 5.03
FANNIE MAE NOTES 3135G04Z3 3,675,000.00 NOMURA 94.73 3,481,206.23 (186,186.52) (191,950.35) DTD 06/19/2020 0.500% 06/17/2025

1.21 5.03
FANNIE MAE NOTES 3135G04Z3 3,820,000.00 RBS 94.73 3,618,559.94 (217,751.46) (205,641.48) DTD 06/19/2020 0.500% 06/17/2025

1.21 5.03
FREDDIE MAC NOTES 3137EAEU9 2,220,000.00 WELLS_F 94.26 2,092,500.96 (116,443.44) (124,613.92) DTD 07/23/2020 0.375% 07/21/2025

1.31 4.96
FANNIE MAE NOTES 3135G05X7 450,000.00 NOMURA 93.87 422,407.80 (25,072.20) (26,863.44) DTD 08/27/2020 0.375% 08/25/2025

1.40 4.95
FANNIE MAE NOTES 3135G05X7 550,000.00 CITIGRP 93.87 516,276.20 (32,013.30) (33,231.09) DTD 08/27/2020 0.375% 08/25/2025

1.40 4.95
FANNIE MAE NOTES 3135G05X7 2,360,000.00 BARCLAY 93.87 2,215,294.24 (133,660.96) (141,611.52) DTD 08/27/2020 0.375% 08/25/2025

1.40 4.95
FREDDIE MAC NOTES 3137EAEX3 130,000.00 WELLS_F 93.65 121,742.40 (8,087.30) (8,207.04) DTD 09/25/2020 0.375% 09/23/2025

1.48 4.87
FREDDIE MAC NOTES 3137EAEX3 3,400,000.00 CITIGRP 93.65 3,184,032.00 (205,734.00) (212,938.20) DTD 09/25/2020 0.375% 09/23/2025

1.48 4.87
FANNIE MAE NOTES 3135G06G3 2,040,000.00 NOMURA 93.36 1,904,574.60 (134,650.20) (135,174.71) DTD 11/12/2020 0.500% 11/07/2025

1.59 4.85
FANNIE MAE NOTES 3135G06G3 2,215,000.00 BARCLAY 93.36 2,067,957.23 (139,113.07) (144,495.34) DTD 11/12/2020 0.500% 11/07/2025

1.59 4.85
Security Type Sub-Total 38,760,000.00 36,767,548.53 (2,101,153.47) (2,006,195.37) 1.20 5.02 Corporate Note
PACCAR FINANCIAL CORP CORPORATE 69371RQ66 1,810,000.00 MITSU 97.07 1,756,999.58 (82,014.72) (58,216.29) NOTES
DTD 02/06/2020 1.800% 02/06/2025

0.85 5.37
MASTERCARD INC CORP NOTES 57636QAN4 1,760,000.00 JSEB 02/03/25 97.12 1,709,347.20 (126,878.40) (64,192.30) (CALLABLE)
DTD 12/03/2019 2.000% 03/03/2025

0.84 5.23
AMAZON.COM INC CORPORATE NOTES 023135CE4 3,430,000.00 JPM_CHA 97.79 3,354,190.14 (70,356.16) (73,933.91) DTD 04/13/2022 3.000% 04/13/2025

1.01 5.22
CITY OF MODESTO - COMBINED PORTFOLIO Page 24
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Managed Account Fair Market Value & Analytics For the Month Ending March 31, 2024 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 & CO (CALLABLE) CORP 46647PCH7 865,000.00 JPM_CHA 06/01/24 99.12 857,425.20 (7,574.80) (7,574.80) NOTE
DTD 06/01/2021 0.824% 06/01/2025

0.17 1.58
BRISTOL-MYERS SQUIBB CO CORPORATE 110122DN5 2,230,000.00 MERRILL 10/13/25 93.37 2,082,142.08 (128,746.82) (140,807.57) NOTES
DTD 11/13/2020 0.750% 11/13/2025

1.53 5.07
BANK OF NY MELLON CORP (CALLABLE) 06406RAQ0 3,465,000.00 US_BANC 12/28/25 92.38 3,200,849.19 (264,982.41) (264,446.61) CORPOR
DTD 01/28/2021 0.750% 01/28/2026

1.73 5.17
BANK OF AMERICA CORP NOTES 06051GKM0 2,025,000.00 MERRILL 04/02/25 97.86 1,981,618.43 (43,381.57) (43,381.57) (CALLABLE)
DTD 03/22/2022 3.384% 04/02/2026

0.98 4.51
MICROSOFT CORP (CALLABLE) NOTES 594918BR4 3,000,000.00 TD 05/08/26 94.82 2,844,693.00 (188,457.00) (171,892.81) DTD 08/08/2016 2.400% 08/08/2026

2.06 4.75
BANK OF AMERICA NA CORPORATE NOTES 06428CAA2 3,750,000.00 MERRILL 100.95 3,785,606.25 35,906.25 35,844.11 DTD 08/18/2023 5.526% 08/18/2026

2.25 5.10
MASTERCARD INC CORP NOTES 57636QAG9 2,560,000.00 CSFB 08/21/26 95.37 2,441,349.12 7,249.92 (33,777.89) (CALLABLE)
DTD 11/21/2016 2.950% 11/21/2026

2.30 4.84
JP MORGAN CORP NOTES (CALLABLE) 48125LRU8 3,500,000.00 JPM_CHA 11/08/26 100.09 3,503,185.00 3,185.00 3,185.00 DTD 12/08/2023 5.110% 12/08/2026

2.43 5.07
TARGET CORP CORP NOTES (CALLABLE) 87612EBM7 365,000.00 CITIGRP 12/15/26 92.80 338,724.02 (25,655.48) (25,927.99) DTD 01/24/2022 1.950% 01/15/2027

2.64 4.73
MICROSOFT CORP CORP NOTES 594918BY9 3,000,000.00 GOLDMAN 11/06/26 96.95 2,908,473.00 (5,697.00) (32,472.78) (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027

2.50 4.45
HOME DEPOT INC CORP NOTES 437076BT8 3,610,000.00 TD 06/14/27 93.98 3,392,551.65 (13,122.35) (64,809.08) (CALLABLE)
DTD 09/14/2017 2.800% 09/14/2027

3.08 4.71
JPMORGAN CHASE CORP NOTES 46647PCW4 1,535,000.00 MERRILL 02/24/27 93.87 1,440,921.39 37,363.44 21,460.57 (CALLABLE)
DTD 02/24/2022 2.947% 02/24/2028

2.79 4.68
CITY OF MODESTO - COMBINED PORTFOLIO Page 25
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Managed Account Fair Market Value & Analytics For the Month Ending March 31, 2024 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
WALMART INC CORPORATE NOTES 931142FB4 1,220,000.00 BARCLAY 03/15/28 97.87 1,193,956.66 (23,322.74) (23,806.50) (CALLABLE)
DTD 04/18/2023 3.900% 04/15/2028

3.64 4.48
APPLE INC CORP NOTES CALLABLE 037833ET3 5,200,000.00 HSBC 04/10/28 98.41 5,117,200.40 (99,179.60) (96,258.85) DTD 05/10/2023 4.000% 05/10/2028

3.70 4.43
JOHN DEERE CAPITAL CORP CORPORATE 24422EXB0 495,000.00 SIEBERT 100.60 497,960.60 (3,771.40) (2,806.00) NOTES
DTD 07/14/2023 4.950% 07/14/2028

3.88 4.79
JOHN DEERE CAPITAL CORP CORPORATE 24422EXB0 895,000.00 TD 100.60 900,352.99 (3,337.46) (2,107.54) NOTES
DTD 07/14/2023 4.950% 07/14/2028

3.88 4.79
JOHN DEERE CAPITAL CORP CORPORATE 24422EXB0 1,165,000.00 CITIGRP 100.60 1,171,967.87 8,703.72 8,454.79 NOTES
DTD 07/14/2023 4.950% 07/14/2028

3.88 4.79
PACCAR FINANCIAL CORP CORPORATE 69371RS64 1,130,000.00 TD 100.72 1,138,159.73 15,244.83 14,370.90 NOTES
DTD 08/10/2023 4.950% 08/10/2028

3.95 4.76
TOYOTA MOTOR CREDIT CORP 89236TLB9 2,800,000.00 MERRILL 101.56 2,843,682.80 48,554.80 48,072.79

CORPORATE NOTES
DTD 09/11/2023 5.250% 09/11/2028

4.02 4.86
CITIBANK NA CORP NOTES (CALLABLE) 17325FBB3 5,650,000.00 CITIGRP 08/29/28 103.48 5,846,642.60 196,642.60 196,642.60 DTD 09/29/2023 5.803% 09/29/2028

3.96 4.93
BLACKROCK FUNDING INC CORPORATE 09290DAA9 365,000.00 CITIGRP 02/14/29 100.06 365,204.04 864.69 858.95

NOTES (C
DTD 03/14/2024 4.700% 03/14/2029

4.40 4.69
Security Type Sub-Total 55,825,000.00 54,673,202.94 (732,762.66) (777,522.78) 2.60 4.81 Commercial Paper
LMA AMERICAS LLC COMM PAPER 53944QJG6 11,065,000.00 RBC 97.43 10,780,817.61 25,047.48 (13,606.25) DTD 03/07/2024 0.000% 09/16/2024

0.48 5.62
Security Type Sub-Total 11,065,000.00 10,780,817.61 25,047.48 (13,606.25) 0.48 5.62 CITY OF MODESTO - COMBINED PORTFOLIO Page 26
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Managed Account Fair Market Value & Analytics For the Month Ending March 31, 2024 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
COOPERAT RABOBANK UA/NY CERT DEPOS 21684LGS5 3,500,000.00 RABOBAN 99.38 3,478,468.00 (21,532.00) (21,532.00) DTD 07/20/2023 5.080% 07/17/2026

2.18 5.36
Security Type Sub-Total 3,500,000.00 3,478,468.00 (21,532.00) (21,532.00) 2.18 5.36 Bank Note
WELLS FARGO BANK NA BANK NOTES 94988J6D4 5,635,000.00 WELLS_F 07/07/26 100.46 5,661,039.34 39,394.29 36,590.49 (CALLABLE
DTD 08/09/2023 5.450% 08/07/2026

2.15 5.24
Security Type Sub-Total 5,635,000.00 5,661,039.34 39,394.29 36,590.49 2.15 5.24 Asset-Backed Security
HAROT 2021-1 A3 43813GAC5 42,412.37 JPM_CHA 99.43 42,170.56 (241.03) (241.61) DTD 02/24/2021 0.270% 04/21/2025

0.10 0.81
HART 2021-A A3 44933LAC7 80,419.68 BARCLAY 99.17 79,748.95 (662.27) (667.92) DTD 04/28/2021 0.380% 09/15/2025

0.14 0.96
CARMX 2021-1 A3 14316NAC3 66,267.76 MITSU 98.68 65,393.03 (861.63) (870.15) DTD 01/27/2021 0.340% 12/15/2025

0.20 1.12
TAOT 2021-C A3 89239BAC5 436,437.36 BARCLAY 97.63 426,109.24 (10,293.32) (10,313.63) DTD 09/27/2021 0.430% 01/15/2026

0.35 1.77
CARMX 2021-2 A3 14314QAC8 217,282.95 MERRILL 98.36 213,726.75 (3,509.38) (3,537.96) DTD 04/21/2021 0.520% 02/17/2026

0.27 1.40
HART 2021-C A3 44935FAD6 247,472.29 SMBC 97.80 242,019.93 (5,397.13) (5,426.29) DTD 11/17/2021 0.740% 05/15/2026

0.42 1.80
DCENT 2021-A1 A1 254683CP8 775,000.00 CITIGRP 97.78 757,823.52 (17,010.55) (17,094.43) DTD 09/27/2021 0.580% 09/15/2026

0.44 1.50
CHAIT 2024-A1 A 161571HV9 3,390,000.00 JPM_CHA 99.47 3,372,167.92 (17,315.78) (17,343.49) DTD 01/31/2024 4.600% 01/15/2027

2.55 4.80
CCCIT 2023-A1 A1 17305EGW9 835,000.00 CITIGRP 100.15 836,239.47 1,344.18 1,336.86 DTD 12/01/2023 5.230% 12/01/2027

1.57 5.19
KCOT 2023-2A A3 500945AC4 890,000.00 JPM_CHA 100.26 892,313.73 2,538.54 2,504.21 DTD 07/26/2023 5.280% 01/18/2028

2.03 5.20
CITY OF MODESTO - COMBINED PORTFOLIO Page 27
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Managed Account Fair Market Value & Analytics For the Month Ending March 31, 2024 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
BAAT 2023-1A A3 06428AAC2 1,465,000.00 MERRILL 100.39 1,470,768.58 5,824.10 5,815.91 DTD 07/31/2023 5.530% 02/15/2028

1.61 5.42
HAROT 2023-3 A3 43815QAC1 2,220,000.00 MERRILL 100.40 2,228,890.66 9,348.42 9,286.21 DTD 08/22/2023 5.410% 02/18/2028

1.69 5.30
TAOT 2023-C A3 89231FAD2 690,000.00 BNP_PAR 100.14 690,938.95 1,095.03 1,074.00 DTD 08/15/2023 5.160% 04/17/2028

1.71 5.12
USAOT 2023-A A3 90291VAC4 3,015,000.00 JPM_CHA 100.70 3,036,238.56 21,766.18 21,711.33 DTD 09/15/2023 5.580% 05/15/2028

1.51 5.39
BAAT 2023-2A A3 06054YAC1 2,925,000.00 MERRILL 101.24 2,961,130.69 36,183.63 36,179.92 DTD 11/21/2023 5.740% 06/15/2028

1.88 5.41
TAOT 2023-D A3 89239FAD4 765,000.00 JPM_CHA 101.03 772,899.01 7,981.48 7,975.63 DTD 11/14/2023 5.540% 08/15/2028

2.05 5.28
FITAT 2023-1 A3 31680EAD3 2,425,000.00 JPM_CHA 100.66 2,440,965.72 16,116.07 16,097.72 DTD 08/23/2023 5.530% 08/15/2028

1.78 5.36
CHAIT 2023-A1 A 161571HT4 3,020,000.00 JPM_CHA 100.71 3,041,516.59 22,353.73 22,272.50 DTD 09/15/2023 5.160% 09/15/2028

2.25 4.98
AMXCA 2023-3 A 02582JKD1 3,090,000.00 CITIGRP 100.85 3,116,309.81 26,447.93 26,434.79 DTD 09/19/2023 5.230% 09/15/2028

2.25 5.02
HART 2023-C A3 44918CAD4 1,130,000.00 BNP_PAR 101.07 1,142,071.45 12,220.04 12,209.84 DTD 11/13/2023 5.540% 10/16/2028

2.06 5.28
BACCT 2023-A2 A2 05522RDH8 1,365,000.00 MERRILL 100.34 1,369,693.55 4,876.87 4,866.98 DTD 12/14/2023 4.980% 11/15/2028

2.40 4.90
GMCAR 2024-1 A3 36268GAD7 365,000.00 BARCLAY 99.73 364,024.06 (902.54) (905.29) DTD 01/17/2024 4.850% 12/18/2028

2.18 4.91
Security Type Sub-Total 29,455,292.41 29,563,160.73 111,902.57 111,365.13 1.90 4.94 Managed Account Sub-Total 446,256,397.69 429,573,863.75 (6,448,402.84) (10,375,561.83) 2.25 4.81 Total Investments $431,380,804.08
$1,806,940.33
$429,573,863.75
Accrued Interest
Securities Sub-Total $446,256,397.69 ($6,448,402.84) ($10,375,561.83) 2.25 4.81% CITY OF MODESTO - COMBINED PORTFOLIO Page 28
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Managed Account Security Transactions & Interest For the Month Ending March 31, 2024 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
03/07/24 FHMS K516 A2
DTD 03/01/2024 5.477% 01/01/2029
02/29/24 3137HBPM0 3,750,000.00 (3,862,488.75) (3,423.13) (3,865,911.88) 03/14/24 BLACKROCK FUNDING INC CORPORATE

NOTES (C
DTD 03/14/2024 4.700% 03/14/2029
03/05/24 09290DAA9 365,000.00 (364,339.35) 0.00 (364,339.35) 03/14/24 FHMS K517 A2
DTD 03/01/2024 5.355% 01/01/2029
03/05/24 3137HC2C5 3,355,000.00 (3,455,603.03) (6,487.73) (3,462,090.76) 03/08/24 LMA AMERICAS LLC COMM PAPER
DTD 03/07/2024 0.000% 09/16/2024
03/08/24 53944QJG6 11,065,000.00 (10,755,770.13) 0.00 (10,755,770.13) 03/28/24 FHMS K518 A2
DTD 03/01/2024 5.400% 01/01/2029
03/19/24 3137HC2L5 2,715,000.00 (2,780,553.68) (10,995.75) (2,791,549.43) 03/25/24 US TREASURY BILL
DTD 09/28/2023 0.000% 03/28/2024
03/25/24 912797GY7 3,795,000.00 (3,793,359.88) 0.00 (3,793,359.88) 03/28/24 US TREASURY BILL
DTD 12/19/2023 0.000% 04/16/2024
03/27/24 912797JN8 1,475,000.00 (1,470,904.07) 0.00 (1,470,904.07) Transaction Type Sub-Total 26,520,000.00 (26,483,018.89) (20,906.61) (26,503,925.50)

INTEREST
03/01/24 03/01/24 MONEY MARKET FUND MONEY0002 0.00 0.00 2,098.42 2,098.42 03/25/24 FHLMC MULTIFAMILY STRUCTURED P
DTD 08/01/2017 3.117% 06/01/2027
03/01/24 3137F2LJ3 3,530,000.00 0.00 9,169.18 9,169.18
03/25/24 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
03/01/24 3137HAST4 2,890,000.00 0.00 11,680.42 11,680.42 03/25/24 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
03/01/24 3137HAMR4 3,640,628.65 0.00 14,562.51 14,562.51 03/25/24 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
03/01/24 3137HACX2 3,500,000.00 0.00 14,055.42 14,055.42 03/25/24 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
03/01/24 3137BTUM1 2,462,016.50 0.00 6,866.97 6,866.97
03/25/24 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
03/01/24 3137HAD45 2,804,520.10 0.00 11,164.33 11,164.33 03/25/24 FHMS K513 A2
DTD 01/01/2024 4.724% 12/01/2028
03/01/24 3137HBFY5 2,190,000.00 0.00 8,621.30 8,621.30
CITY OF MODESTO - COMBINED PORTFOLIO Page 29
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Managed Account Security Transactions & Interest For the Month Ending March 31, 2024 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
03/25/24 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
03/01/24 3137HAMG8 1,892,419.97 0.00 7,333.13 7,333.13
03/25/24 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
03/01/24 3137HB3G7 2,125,000.00 0.00 8,606.25 8,606.25
03/25/24 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
03/01/24 3137HAMN3 2,142,007.66 0.00 9,410.55 9,410.55
03/25/24 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
03/01/24 3137HB3D4 1,465,000.00 0.00 6,188.40 6,188.40
03/25/24 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
03/01/24 3137HBLV4 2,220,000.00 0.00 8,458.20 8,458.20
03/25/24 FHMS K515 A2
DTD 02/01/2024 5.400% 01/01/2029
03/01/24 3137HBPD0 3,750,000.00 0.00 16,875.00 16,875.00 03/25/24 FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
03/01/24 3137BXQY1 4,000,000.00 0.00 10,746.67 10,746.67 03/25/24 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
03/01/24 3136BQDE6 3,500,000.00 0.00 12,220.83 12,220.83 03/25/24 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
03/01/24 3137HAMS2 3,800,000.00 0.00 15,200.00 15,200.00 03/25/24 FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
03/01/24 3137F1G44 2,275,000.00 0.00 6,148.19 6,148.19
03/25/24 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
03/01/24 3137HAMH6 3,800,000.00 0.00 14,725.00 14,725.00 03/25/24 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
03/01/24 3137HAQ74 3,850,000.00 0.00 15,207.50 15,207.50 03/25/24 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
03/01/24 3137HBCF9 1,935,000.00 0.00 8,062.50 8,062.50
03/03/24 MASTERCARD INC CORP NOTES
(CALLABLE)
DTD 12/03/2019 2.000% 03/03/2025
03/03/24 57636QAN4 1,760,000.00 0.00 17,600.00 17,600.00 03/11/24 TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 09/11/2023 5.250% 09/11/2028
03/11/24 89236TLB9 2,800,000.00 0.00 73,500.00 73,500.00 CITY OF MODESTO - COMBINED PORTFOLIO Page 30
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Managed Account Security Transactions & Interest For the Month Ending March 31, 2024 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
03/14/24 HOME DEPOT INC CORP NOTES
(CALLABLE)
DTD 09/14/2017 2.800% 09/14/2027
03/14/24 437076BT8 3,610,000.00 0.00 50,540.00 50,540.00 03/15/24 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
03/15/24 89239BAC5 481,370.47 0.00 172.49 172.49
03/15/24 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
03/15/24 89239FAD4 765,000.00 0.00 3,531.75 3,531.75
03/15/24 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
03/15/24 05522RDH8 1,365,000.00 0.00 5,664.75 5,664.75
03/15/24 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
03/15/24 90291VAC4 3,015,000.00 0.00 14,019.75 14,019.75 03/15/24 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
03/15/24 06428AAC2 1,465,000.00 0.00 6,751.21 6,751.21
03/15/24 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
03/15/24 254683CP8 775,000.00 0.00 374.58 374.58
03/15/24 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
03/15/24 44935FAD6 271,331.37 0.00 167.32 167.32
03/15/24 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
03/15/24 06054YAC1 2,925,000.00 0.00 13,991.25 13,991.25 03/15/24 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
03/15/24 14316NAC3 78,885.84 0.00 22.35 22.35
03/15/24 KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
03/15/24 500945AC4 890,000.00 0.00 3,916.00 3,916.00
03/15/24 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
03/15/24 14314QAC8 246,340.35 0.00 106.75 106.75
03/15/24 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
03/15/24 02582JKD1 3,090,000.00 0.00 13,467.25 13,467.25 03/15/24 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
03/15/24 31680EAD3 2,425,000.00 0.00 11,175.21 11,175.21 03/15/24 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
03/15/24 89231FAD2 690,000.00 0.00 2,967.00 2,967.00
03/15/24 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
03/15/24 44933LAC7 102,098.20 0.00 32.33 32.33
CITY OF MODESTO - COMBINED PORTFOLIO Page 31
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Managed Account Security Transactions & Interest For the Month Ending March 31, 2024 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
03/15/24 HART 2023-C A3
DTD 11/13/2023 5.540% 10/16/2028
03/15/24 44918CAD4 1,130,000.00 0.00 5,216.83 5,216.83
03/15/24 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
03/15/24 161571HT4 3,020,000.00 0.00 12,986.00 12,986.00 03/15/24 CHAIT 2024-A1 A
DTD 01/31/2024 4.600% 01/15/2027
03/15/24 161571HV9 3,390,000.00 0.00 12,995.00 12,995.00 03/16/24 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
03/16/24 36268GAD7 365,000.00 0.00 1,475.21 1,475.21
03/18/24 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
03/18/24 43815QAC1 2,220,000.00 0.00 10,008.50 10,008.50 03/21/24 HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
03/21/24 43813GAC5 63,724.63 0.00 14.34 14.34
03/23/24 FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
03/23/24 3137EAEX3 3,530,000.00 0.00 6,618.75 6,618.75
03/29/24 CITIBANK NA CORP NOTES (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
03/29/24 17325FBB3 5,650,000.00 0.00 163,934.75 163,934.75 03/31/24 US TREASURY NOTES
DTD 09/30/2020 0.250% 09/30/2025
03/31/24 91282CAM3 5,650,000.00 0.00 7,062.50 7,062.50
03/31/24 US TREASURY NOTES
DTD 09/30/2022 4.125% 09/30/2027
03/31/24 91282CFM8 5,380,000.00 0.00 110,962.50 110,962.50 03/31/24 US TREASURY NOTES
DTD 03/31/2022 2.500% 03/31/2027
03/31/24 91282CEF4 910,000.00 0.00 11,375.00 11,375.00
03/31/24 US TREASURY NOTES
DTD 03/31/2021 0.750% 03/31/2026
03/31/24 91282CBT7 7,405,000.00 0.00 27,768.75 27,768.75 03/31/24 US TREASURY NOTES
DTD 03/31/2021 1.250% 03/31/2028
03/31/24 91282CBS9 2,555,000.00 0.00 15,968.75 15,968.75 03/31/24 US TREASURY NOTES
DTD 09/30/2021 0.875% 09/30/2026
03/31/24 91282CCZ2 4,310,000.00 0.00 18,856.25 18,856.25 03/31/24 US TREASURY NOTES
DTD 03/31/2023 3.625% 03/31/2028
03/31/24 91282CGT2 2,675,000.00 0.00 48,484.38 48,484.38 Transaction Type Sub-Total 132,780,343.74 0.00 889,128.27 889,128.27

MATURITY
CITY OF MODESTO - COMBINED PORTFOLIO Page 32
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Managed Account Security Transactions & Interest For the Month Ending March 31, 2024 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

MATURITY
03/01/24 FANNIEMAE-ACES
DTD 04/01/2014 3.346% 03/01/2024
03/01/24 3136AJB54 123,765.13 123,765.13 345.10 124,110.23 (6,014.21) 0.00 03/08/24 LMA AMERICAS LLC COMM PAPER
DTD 09/07/2023 0.000% 03/08/2024
03/08/24 53944QC81 10,757,000.00 10,757,000.00 0.00 10,757,000.00 307,309.56 0.00 03/28/24 US TREASURY BILL
DTD 09/28/2023 0.000% 03/28/2024
03/28/24 912797GY7 3,795,000.00 3,795,000.00 0.00 3,795,000.00 1,640.12 0.00 Transaction Type Sub-Total 14,675,765.13 14,675,765.13 345.10 14,676,110.23 302,935.47 0.00

PAYDOWNS
03/25/24 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
03/01/24 3137BTUM1 5,261.44 5,261.44 0.00 5,261.44 161.95 0.00 03/25/24 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
03/01/24 3137HAMR4 12,419.86 12,419.86 0.00 12,419.86 194.90 0.00 03/25/24 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
03/01/24 3137HAMG8 1,891.13 1,891.13 0.00 1,891.13 28.28 0.00 03/25/24 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
03/01/24 3137HAMN3 3,819.86 3,819.86 0.00 3,819.86 0.02 0.00 03/25/24 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
03/01/24 3137HAD45 2,095.31 2,095.31 0.00 2,095.31 0.05 0.00 03/15/24 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
03/15/24 89239BAC5 44,933.11 44,933.11 0.00 44,933.11 3.58 0.00 03/15/24 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
03/15/24 44935FAD6 23,859.08 23,859.08 0.00 23,859.08 5.33 0.00 03/15/24 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
03/15/24 14316NAC3 12,618.08 12,618.08 0.00 12,618.08 2.49 0.00 03/15/24 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
03/15/24 14314QAC8 29,057.40 29,057.40 0.00 29,057.40 6.26 0.00 03/15/24 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
03/15/24 44933LAC7 21,678.52 21,678.52 0.00 21,678.52 2.28 0.00 03/21/24 HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
03/21/24 43813GAC5 21,312.26 21,312.26 0.00 21,312.26 0.39 0.00 Transaction Type Sub-Total 178,946.05 178,946.05 0.00 178,946.05 405.53 0.00 CITY OF MODESTO - COMBINED PORTFOLIO Page 33
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Managed Account Security Transactions & Interest For the Month Ending March 31, 2024 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
03/07/24 US TREASURY NOTES
DTD 02/15/2022 1.500% 02/15/2025
03/01/24 91282CDZ1 60,000.00 58,061.72 51.92 58,113.64 37.50 (1,285.99) FIFO 03/07/24 WALMART INC CORPORATE NOTES
DTD 04/23/2019 2.850% 07/08/2024
03/01/24 931142EL3 1,270,000.00 1,258,849.40 5,931.96 1,264,781.36 (50,787.30) (13,206.49) FIFO 03/07/24 US TREASURY NOTES
DTD 12/15/2021 1.000% 12/15/2024
03/01/24 91282CDN8 775,000.00 751,114.26 1,757.51 752,871.77 9,778.32 (14,194.05) FIFO 03/07/24 INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
03/04/24 4581X0DZ8 1,030,000.00 1,003,384.80 2,346.11 1,005,730.91 (25,853.00) (26,476.11) FIFO 03/14/24 US TREASURY NOTES
DTD 02/15/2022 1.500% 02/15/2025
03/11/24 91282CDZ1 3,975,000.00 3,848,296.88 4,586.54 3,852,883.42 4,192.38 (84,365.63) FIFO 03/25/24 TORONTO DOMINION BANK NY CERT
DEPOS
DTD 10/31/2022 5.470% 10/25/2024
03/21/24 89115B6F2 3,355,000.00 3,352,953.45 77,485.59 3,430,439.04 (2,046.55) (2,046.55) FIFO Transaction Type Sub-Total 10,465,000.00 10,272,660.51 92,159.63 10,364,820.14 (64,678.65) (141,574.82) Managed Account Sub-Total (1,355,647.20) 960,726.39 (394,920.81) 238,662.35 (141,574.82) Total Security Transactions ($1,355,647.20) $960,726.39 ($394,920.81) $238,662.35 ($141,574.82) CITY OF MODESTO - COMBINED PORTFOLIO Page 34
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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
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% 10/31/2023 3.40% 48,862,493.00 5.56% 393,319,562.86 2.89% 41,829,190.02 5.63% 11/30/2023 3.46% 49,086,612.73 5.58% 396,095,890.19 2.97% 41,987,235.92 5.60% 12/31/2023 3.51% 49,318,080.86 5.55% 393,872,751.60 3.03% 42,137,084.04 5.60% 1/31/2024 3.54% 49,549,288.20 5.54% 395,563,681.33 3.07% 42,286,932.15 5.60% 2/29/2024 3.57% 49,765,331.51 5.50% 400,022,027.47 3.13% 42,269,831.92 5.45% 3/31/2024 3.59% 49,996,308.29 5.48% 397,576,602.33 3.16% 42,372,823.25 5.35% 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. #10..
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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 5.230% 1 23,013 0.85% 7,426
FHLMC 640,000 2/12/2025 5.170% 1 6,607 1.18% 1,891
FHLB 2,370,000 4/14/2025 5.070% 1 14,789 0.60% 3,551
FNMA 3,195,000 4/22/2025 5.070% 1 22,595 0.67% 5,313
FNMA 475,000 4/22/2025 5.070% 1 2,989 0.59% 703
FNMA 3,345,000 4/22/2025 5.070% 1 21,629 0.61% 5,086
FNMA 1,910,000 4/22/2025 5.070% 1 10,503 0.52% 2,470
FNMA 3,675,000 6/17/2025 5.030% 1 24,178 0.54% 4,967
FNMA 200,000 6/17/2025 5.030% 1 1,030 0.42% 211
FNMA 1,075,000 6/17/2025 5.030% 1 5,208 0.40% 1,070
FNMA 3,820,000 6/17/2025 5.030% 1 18,924 0.41% 3,887
FNMA 1,190,000 6/17/2025 5.030% 1 5,234 0.36% 1,075
FHLMC 2,220,000 7/21/2025 4.960% 1 13,810 0.48% 2,635
FNMA 2,360,000 8/25/2025 4.950% 1 15,556 0.47% 2,765
FNMA 550,000 8/25/2025 4.950% 1 3,393 0.44% 603
FNMA 450,000 8/25/2025 4.950% 1 3,107 0.49% 552
FHLMC 3,400,000 9/23/2025 4.870% 1 21,972 0.44% 3,696
FHLMC 130,000 9/23/2025 4.870% 1 774 0.40% 130
FNMA 2,215,000 11/7/2025 4.850% 2 20,374 0.57% 3,164
FNMA 2,040,000 11/7/2025 4.850% 2 16,631 0.51% 2,583
Federal Agency CMBS
FHLMC 2,456,755 11/1/2026 4.760% 3 274,296 4.31% 26,414 FHLMC 4,000,000 3/1/2027 4.690% 3 580,822 4.98% 49,629
FHLMC 2,275,000 4/1/2027 4.690% 3 339,612 4.97% 28,198
FHLMC 3,530,000 6/1/2027 4.660% 3 560,113 5.01% 44,054
FHLMC 3,628,209 4/1/2028 4.890% 4 754,416 5.19% 46,958
FHLMC 1,890,529 5/1/2028 4.760% 4 387,364 5.01% 23,626
FHLMC 2,802,425 6/1/2028 4.920% 4 558,659 4.78% 33,380
FHLMC 3,500,000 6/1/2028 4.740% 4 670,248 4.59% 40,048
FNMA 3,500,000 7/1/2028 4.710% 4 681,374 4.58% 39,926
FHLMC 2,138,188 8/1/2028 4.960% 4 489,208 5.27% 28,105
FHLMC 3,850,000 8/1/2028 4.740% 4 878,761 5.26% 50,484
FHLMC 3,800,000 8/1/2028 4.730% 4 823,253 4.99% 47,295
FHLMC 3,800,000 9/1/2028 4.720% 4 853,262 5.07% 48,079
FHLMC 2,890,000 9/1/2028 4.730% 4 716,621 5.60% 40,379
FHLMC 1,465,000 10/1/2028 4.730% 5 339,128 5.14% 18,760 FHLMC 2,125,000 10/1/2028 4.720% 5 471,873 4.93% 26,104 FHLMC 1,935,000 11/1/2028 4.720% 5 425,098 4.78% 23,081 FHLMC 2,220,000 12/1/2028 4.700% 5 450,476 4.34% 24,029 FHLMC 2,190,000 12/1/2028 4.700% 5 460,136 4.50% 24,544 FHLMC 3,750,000 1/1/2029 4.740% 5 852,556 4.78% 44,665
FHLMC 3,750,000 1/1/2029 4.730% 5 852,791 4.78% 44,677
FHLMC 2,715,000 1/1/2029 4.640% 5 624,219 4.83% 32,702
FHLMC 3,355,000 1/1/2029 4.710% 5 743,457 4.66% 38,949
U.S. Treasury
U.S. Treasury 1,475,000 4/16/2024 4.960% 0 3,411 4.56% 16,781 U.S. Treasury 10,565,000 5/15/2024 5.380% 0 71,612 4.93% 129,921 U.S. Treasury 10,645,000 7/31/2024 5.350% 0 189,036 5.31% 141,002 U.S. Treasury 10,535,000 10/31/2024 5.280% 1 321,718 5.21% 136,805 U.S. Treasury 365,000 2/15/2025 5.150% 1 8,681 2.70% 2,461 U.S. Treasury 2,300,000 2/15/2025 5.150% 1 98,657 4.88% 27,968 U.S. Treasury 4,945,000 4/30/2025 5.010% 1 33,850 0.63% 7,798 U.S. Treasury 4,230,000 6/30/2025 4.920% 1 144,413 2.73% 28,819 U.S. Treasury 4,340,000 8/31/2025 4.870% 1 32,518 0.53% 5,713 U.S. Treasury 4,635,000 8/31/2025 4.870% 1 180,305 2.74% 31,675 U.S. Treasury 4,550,000 9/30/2025 4.840% 2 45,792 0.67% 7,604 U.S. Treasury 1,100,000 9/30/2025 4.840% 2 13,279 0.80% 2,205 U.S. Treasury 5,010,000 10/31/2025 4.810% 2 61,432 0.77% 9,655 U.S. Treasury 6,930,000 10/31/2025 4.810% 2 85,720 0.78% 13,472 U.S. Treasury 4,250,000 11/30/2025 4.780% 2 75,531 1.07% 11,286 U.S. Treasury 4,635,000 11/30/2025 4.780% 2 212,951 2.75% 31,820 U.S. Treasury 1,040,000 12/31/2025 4.740% 2 8,273 0.45% 1,176 U.S. Treasury 500,000 12/31/2025 4.740% 2 3,789 0.43% 539 U.S. Treasury 3,735,000 12/31/2025 4.740% 2 58,140 0.89% 8,267 U.S. Treasury 2,400,000 1/31/2026 4.720% 2 35,495 0.80% 4,814 U.S. Treasury 5,775,000 1/31/2026 4.720% 2 135,087 1.27% 18,320 U.S. Treasury 5,000,000 1/31/2026 4.720% 2 170,432 1.85% 23,114 U.S. Treasury 7,980,000 1/31/2026 4.720% 2 432,760 2.95% 58,690 U.S. Treasury 3,210,000 2/28/2026 4.680% 2 43,174 0.70% 5,621 U.S. Treasury 6,000,000 2/28/2026 4.680% 2 132,689 1.15% 17,274 U.S. Treasury 4,645,000 2/28/2026 4.680% 2 245,345 2.76% 31,940 U.S. Treasury 4,925,000 3/31/2026 4.640% 2 85,646 0.87% 10,676 U.S. Treasury 2,480,000 3/31/2026 4.640% 2 37,633 0.76% 4,691 U.S. Treasury 1,405,000 5/31/2026 4.610% 2 26,440 0.87% 3,042 U.S. Treasury 4,615,000 5/31/2026 4.610% 2 276,137 2.76% 31,768 U.S. Treasury 4,800,000 5/31/2026 4.610% 2 311,277 2.99% 35,811 U.S. Treasury 4,640,000 8/31/2026 4.550% 2 308,701 2.75% 31,814 U.S. Treasury 4,310,000 9/30/2026 4.510% 3 298,408 2.77% 29,743 U.S. Treasury 4,545,000 11/15/2026 4.500% 3 359,306 3.01% 34,095 U.S. Treasury 9,220,000 2/15/2027 4.450% 3 757,319 2.85% 65,572 U.S. Treasury 910,000 3/31/2027 4.420% 3 110,143 4.03% 9,153 U.S. Treasury 6,480,000 4/30/2027 4.420% 3 582,810 2.92% 47,143 U.S. Treasury 5,545,000 6/30/2027 4.390% 3 539,174 2.99% 41,370 U.S. Treasury 1,200,000 8/15/2027 4.390% 3 133,807 3.30% 9,883 U.S. Treasury 2,985,000 8/15/2027 4.390% 3 342,588 3.40% 25,305 U.S. Treasury 5,380,000 9/30/2027 4.370% 4 804,927 4.27% 57,315 U.S. Treasury 8,775,000 10/31/2027 4.350% 4 1,230,843 3.91% 85,567 U.S. Treasury 2,715,000 10/31/2027 4.370% 4 370,990 3.81% 25,791 U.S. Treasury 3,160,000 10/31/2027 4.370% 4 411,184 3.63% 28,585 U.S. Treasury 4,250,000 12/31/2027 4.340% 4 602,782 3.78% 40,039 U.S. Treasury 3,450,000 1/31/2028 4.330% 4 484,942 3.66% 31,499 U.S. Treasury 2,220,000 1/31/2028 4.340% 4 299,715 3.52% 19,468 U.S. Treasury 2,825,000 2/29/2028 4.320% 4 470,304 4.25% 29,928 U.S. Treasury 2,970,000 2/29/2028 4.320% 4 499,683 4.29% 31,798 U.S. Treasury 2,555,000 3/31/2028 4.320% 4 357,077 3.49% 22,241 U.S. Treasury 2,675,000 3/31/2028 4.320% 4 390,616 3.65% 24,330 U.S. Treasury 2,810,000 4/30/2028 4.310% 4 413,514 3.60% 25,238 U.S. Treasury 6,530,000 4/30/2028 4.310% 4 906,820 3.40% 55,346 Commercial Paper
LMA Americas LLC 11,065,000 9/16/2024 5.620% 0 276,176 5.39% 148,710 Earnings to
Maturity
March 31, 2024
#10..
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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
Earnings to
Maturity
March 31, 2024
Negotiable CD
Rabobank Nederland 3,500,000 7/17/2026 5.360% 2 408,224 5.08% 44,330 Corporate Note
Paccar Financial Corp 1,810,000 2/6/2025 5.370% 1 22,403 1.45% 6,534 Mastercard Inc 1,760,000 3/3/2025 5.230% 1 17,490 1.08% 4,723 Amazon.Com Inc 3,430,000 4/13/2025 5.220% 1 108,550 3.06% 26,132 JPMorgan Chase & Co 865,000 6/1/2025 1.580% 1 8,338 0.82% 1,777 Bristol-Myers Squibb Co 2,230,000 11/13/2025 5.070% 2 34,362 0.95% 5,282 The Bank Of New York Mellon Corporation 3,465,000 1/28/2026 5.170% 2 47,249 0.75% 6,437 Bank Of America Co 2,025,000 4/2/2026 4.510% 2 137,419 3.38% 17,083 Wells Fargo & Company 5,635,000 8/7/2026 5.240% 2 734,311 5.54% 77,791 Microsoft Corp 3,000,000 8/8/2026 4.750% 2 151,152 2.14% 15,994 Bank Of America Co 3,750,000 8/18/2026 5.100% 2 494,196 5.53% 51,692 Mastercard Inc 2,560,000 11/21/2026 4.840% 3 292,989 4.33% 27,629 JPMorgan Chase & Co 3,500,000 12/8/2026 5.070% 3 481,180 5.11% 44,590 Target Corp 365,000 1/15/2027 4.730% 3 20,258 1.99% 1,807 Microsoft Corp 3,000,000 2/6/2027 4.450% 3 347,457 4.06% 30,344 Home Depot Inc 3,610,000 9/14/2027 4.710% 3 518,984 4.16% 37,423 JPMorgan Chase & Co 1,535,000 2/24/2028 4.680% 4 307,461 5.13% 19,634 Wal-Mart Stores Inc 1,220,000 4/15/2028 4.480% 4 194,867 3.95% 12,014 Apple Inc 5,200,000 5/10/2028 4.430% 4 840,294 3.93% 50,944 Deere & Company 1,165,000 7/14/2028 4.790% 4 249,118 4.98% 14,476 Deere & Company 495,000 7/14/2028 4.790% 4 98,586 4.64% 5,729 Deere & Company 895,000 7/14/2028 4.790% 4 181,593 4.73% 10,552 Paccar Financial Corp 1,130,000 8/10/2028 4.760% 4 251,223 5.09% 14,351 Toyota Motor Corp 2,800,000 9/11/2028 4.860% 4 659,446 5.29% 36,929 Citigroup Inc 5,650,000 9/29/2028 4.930% 5 1,475,862 5.80% 81,743 Blackrock Inc. 365,000 3/14/2029 4.690% 5 85,766 4.74% 4,314 Asset-Backed Securities
Honda Auto Receivables 42,412 4/21/2025 0.810% 1 121 0.27% 29 Hyundai Auto Receivables 80,420 9/15/2025 0.960% 1 449 0.38% 77 Carmax Auto Owner Trust 66,268 12/15/2025 1.120% 2 390 0.34% 57 Toyota Motor Corp 436,437 1/15/2026 1.770% 2 3,382 0.43% 470 Carmax Auto Owner Trust 217,283 2/17/2026 1.400% 2 2,148 0.52% 284 Hyundai Auto Receivables 247,472 5/15/2026 1.800% 2 3,915 0.75% 460 Discover Card Execution Note Trust 775,000 9/15/2026 1.500% 2 11,142 0.58% 1,129 Chase Issurance 3,390,000 1/15/2027 4.800% 3 436,300 4.61% 38,925 Citigroup Inc 835,000 12/1/2027 5.190% 4 160,433 5.23% 10,895 Kubota Credit Owners Trust 890,000 1/18/2028 5.200% 4 178,912 5.29% 11,730 Bank of America Auto Trust 1,465,000 2/15/2028 5.420% 4 314,349 5.53% 20,202 Honda Auto Receivables 2,220,000 2/18/2028 5.300% 4 467,367 5.42% 29,972 Toyota Motor Corp 690,000 4/17/2028 5.120% 4 144,325 5.17% 8,886 USAA Owners Trust 3,015,000 5/15/2028 5.390% 4 694,681 5.58% 41,976 Bank of America Auto Trust 2,925,000 6/15/2028 5.410% 4 707,055 5.74% 41,862 Fifth Third Auto Trust 2,425,000 8/15/2028 5.360% 4 587,268 5.53% 33,443 Toyota Motor Corp 765,000 8/15/2028 5.280% 4 185,634 5.54% 10,571 American Express Co 3,090,000 9/15/2028 5.020% 4 721,395 5.23% 40,299 Chase Issurance 3,020,000 9/15/2028 4.980% 4 696,330 5.17% 38,899 Hyundai Auto Receivables 1,130,000 10/16/2028 5.280% 5 284,868 5.54% 15,616 Bank Of America Co 1,365,000 11/15/2028 4.900% 5 314,938 4.98% 16,958 Gm Financial Securitized Term 365,000 12/18/2028 4.910% 5 83,645 4.85% 4,418 Municipal Securities
Maryland St 620,000 8/1/2024 5.400% 0 1,080 0.52% 799
California State University 600,000 11/1/2024 5.030% 1 2,421 0.68% 1,025 State Of California 100,000 12/1/2024 4.980% 1 376 0.56% 140 University Of California 510,000 5/15/2025 5.110% 1 5,059 0.88% 1,123 University Of California 220,000 5/15/2025 5.110% 1 1,993 0.81% 442 Florida State Board of Administration Finance 1,295,000 7/1/2025 5.140% 1 20,399 1.26% 4,062 Florida State Board of Administration Finance 505,000 7/1/2025 5.140% 1 6,994 1.11% 1,393 Los Angeles Community College District 925,000 8/1/2025 4.990% 1 9,560 0.77% 1,783 New Jersey Turnpike Authority 505,000 1/1/2026 4.760% 2 9,286 1.05% 1,318 Overnight Investments 49,996,308 Varies Varies 5.14% 641,257 Totals (Main Portfolio) 496,252,706 42,798,105 3.50% 4,329,278 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. #10..
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Attachment 5
Issue Name / Type Trustee Bank Investment Total Amount
Instl Res Tre and Agny Cash Adv6541 $259,806.13
Financial Guaranty Insurance Pol $1.00
CAMP $2,088,275.05
Total $2,348,082.18
Instl Res Tre and Agny Cash Adv6541 $146,203.36
Cash $143,584.10
CAMP $5,166,148.01
Total $5,455,935.47
2018 Wastewater Refunding Bank of New York Fidelity Inv MM Trsy Only $330.73 Fairview Village Refunding US Bank First American Treasury Obligation Fund $203,306.53 Blackrock Federal Fund Instl 30 $1,487.53
CAMP $2,957,766.33
Total $2,959,253.86
Other Post Employment Benefits Section 115
Trust PARS HighMark Plus Moderate $1,629,073.83
Pension Section 115 Trust PARS HighMark Plus Moderately Conservative $2,836,942.79 Athens Administrators (New Third Party
Administrator - Worker's Compensation) Wells Fargo Bank $532,214.14 George Hills Company - General Liability Claims
Administration Services California Bank & Trust $46,604.43 Kemper Sports Management Inc. BMO Harris Bank Business Money Market $85,351.45 Stanislaus Community Foundation Modesto Commerce Bank Charles Schwab $791,092.17 Third-Party Construction Contract Retention California Bank of Commerce $2,244,414.26
Umpqua Bank $936,465.67
Village One #2 Refunding Bank of New York
Cash with Fiscal Agent Investments
As of March 31, 2024
2008 Water Refunding COP Bank of New York
2008 Lease Revenue Bonds Bank of New York
#10..
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

June 11, 2024
Date: May 15, 2024
TO: Mayor and City Council

THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: April 2024 Accounts Payable Register and Void Report CONTACT: Maria Garnica, Accounting Manager, [email protected], 209-577-5249 DESCRIPTION:

Consider accepting an Informational Report for the April 2024 Accounts Payable Payment Register and Void Report. (Funding Source: Not Applicable) 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 Finance Department manages the payment processing for all City disbursements. The City has three main types of payments which includes the following:

1. Vendors – These payments are associated with goods received and contractual services provided to the City and payroll benefits paid by the City on behalf of City employees.

2. Refunds – These payments are associated with refunds issued for deposits collected and have been authorized to be released for utility services, business licenses, building permits, rental agreements, etc. Additionally, any overpayments made by customers on their utility bills would be refunded through this type of payment.

3. Employees – These payments are associated with City-related travel advances and reimbursements related to training events or City business reimbursements.

Additionally, a monthly Void report is also provided to identify any payments that were voided through our financial accounting system and through the City’s bank. This could have triggered a re-issuance of payment or the payment could have been processed in error. #11..
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City Council, June 11, 2024
April 2024 Accounts Payable Register and Void Report

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Modesto City CouncilJune 11, 2024

Modesto City Council
June 11, 2024