Modesto City Council
September 9, 2025

PUBLIC WORKS
 The following adjustments are being made from the various city Fleet Replacement subfunds to the Fleet Replacement Fund (5409). This action is being taken to reimburse the Fleet Replacement Fund (5409) for vehicle purchases that had been made as required by fund accounting rules in FY 24-25 for the activity through June 2025. Below is a table showing the net effect in each sub-fund because of the various adjustments.

Fund Fund Name Net Impact
of
Adjustments
1309 Capital Improvement Support Fleet Replacement $75,795 1709 Surface Transportation Fleet Replacement $478,865
4109 Water Fund Fleet Replacement $2,024,506
4219 Wastewater Fleet Replacement Fund $564,372
4899 Solid Waste Fleet Replacement Fund $1,050,212
5410 General Fund Equipment Fleet Replacement $ 3,166,871 5809 Building Services Fleet Replacement $56,688
Total Transfer Outs $7,417,309
5409 Transfer In – Fleet Management Fleet Replacement $7,417,309 Total Transfer Ins $7,417,309
A budget adjustment is necessary to establish a transfer in the amount of $75,795 from the Capital Improvement Support Fleet Replacement Fund to Fleet Replacement Fund for purchase of (1) ¾ ton truck.

A budget adjustment is necessary to establish a transfer in the amount of $478,865 from the Surface Transportation Fleet Replacement Fund to Fleet Replacement Fund for purchase of (1) 9-wheel compactor, (1) truck bin hauler, (1) dump truck, and (1) ¾ ton truck.

A budget adjustment is necessary to establish a transfer in the amount of $2,024,506 from the Water Fund Fleet Replacement Fund to Fleet Replacement Fund for purchase of (2) ¾ ton trucks (3) ¾ ton utility trucks, (1) ramp trailer, (2) dump trucks, and (3) oneton trucks with valve turners and vacuum.

A budget adjustment is necessary to establish a transfer in the amount of $564,372 from the Water Fund Fleet Replacement Fund to Fleet Replacement Fund for purchase of (2) dump trucks.

A budget adjustment is necessary to establish a transfer in the amount of $1,050,212 from the Solid Waste Fleet Replacement Fund to Fleet Replacement Fund for purchase of (2) 26.0 trucks with aerial buckets and (4) compact wheel loaders.

A budget adjustment is necessary to establish a transfer in the amount of $3,166,871 from General Fund Equipment Fleet Replacement Fund 5410 to Fleet Replacement Fund for purchase of (2) patrol sedan’s, (32) patrol SUV’s, (1) SUV, (1) 7 passenger van, (1) box truck, (4) ½ ton trucks, (6) patrol motorcycles, and equipment for Police builds. #9..
- 176 -
City Council, September 9, 2025
Monthly Budget Adjustment Report

A budget adjustment is necessary to establish a transfer in the amount of $56,688 from Building Services Fleet Replacement Fund to Fleet Replacement Fund for purchase of (1) ½ Ton Truck.
 A budget adjustment is necessary in the amount of $241,720 to Fleet Management Flee Replacement Fund (5409) to recognize the revenue for the Department of Energy, Energy Efficiency and Conversation Block Grant (EECBG) for the purchase of 4 electric trucks.
 A budget adjustment in the amount of $1,900,000 is necessary to reallocate the transfer out from Fund 1730 – Gas Tax Fund to Fund 1740 – Garbage Franchise Fees – Streets and Fund 1760 – Senate Bill (SB1) Road Maintenance Rehabilitation Account (RMRA).

The adjustment will also move the budgeted transfer in from Fund 1730 to Surface Transportation Fund (1700) to Fund 1740 and Fund 1760 by the same amount. The adjustment is being made as there are additional funds available in Fund 1740 for Streets Maintenance and the newly created Fund 1760 houses SB1 Funds and more expenses in the fiscal year came from this source of funding instead of Gas Tax.

UTILITIES
 A budget adjustment in the amount of $24,000,000 is required from the Water Fund (4100) to the Water CIP Fund (4180) for capital project expenditures related to the Water Fund. For tracking purposes, Capital projects are all expensed out of Water CIP Fund (4180) and at the end of the fiscal year, a transfer from the Water Fund (4100) is needed to cover the expenses in the Water CIP Fund.
 A budget adjustment in the amount of $653,200 is necessary in the Water CIP Fund (4180) Project 101081 – Grayson System Improvements to recognize the grant revenue received from the State Department of Water Resources. The City was awarded the grant funds and upon review the budget was not adjusted to recognize the grant funds to the project revenue budget.
 A budget adjustment is necessary in the amount of $250,000 to increase the discretionary expenses in Project 100851 – Pike Park Neighborhood S & R in Water Fund – CIP Projects (4180). The increase in budget will cover remaining change orders on the project and will come from Water Fund reserves.

FISCAL YEAR 2025-26

PARKS, RECREATION AND NEIGHBORHOODS
 A budget adjustment in the amount of $453,744 is necessary in the Tuolumne River Regional Park Cip Fund (6710) Project 101562 Mancini House Fire Remediation. This adjustment will recognize Insurance Proceed revenue received to date. The expenditures will be budgeted in the like amount to balance the project and create appropriations for necessary expenses.
#9..
- 177 -
City Council, September 9, 2025
Monthly Budget Adjustment Report

FINANCE
 A budget adjustment in the amount of $957,068 is necessary in the Inventory Purchase Fund (5110). This request is derived from the trend increases estimated for sales along with the implementation of the new Information Technology project related to managing the inventory control of all new PC and Laptops at Jefferson Stores.

POLICE DEPARTEMENT
 A budget adjustment in the amount of $58,600 is needed in the Police Grants Fund (1342) for Project 101671 – 2025-2026 Alcohol Beverage Container (ABC) Grant. The adjustment will recognize grant revenue and establish the discretionary expenditure accounts. The Modesto Police Department was awarded the grant from State of California Department of Alcoholic Beverage Control (ABC) Alcohol Policing Partnership Program and the budget appropriation is in place to expend the funds for eligible grant program categories per the grant agreement.
 A budget adjustment in the amount of $217,207 is needed in the Police Grants Fund (1342) for Project 101670 – 25/26 Cannabis Tax Grant. The adjustment will recognize grant revenue and establish the discretionary expenditure accounts. The Modesto Police Department was awarded the grant from State of California Department of California Highway Patrol (CHP) and the budget appropriation is in place to expend the funds for eligible grant program categories per the grant agreement. $50,000 has been appropriated on the City Manager’s authority for necessary Overtime operations.

PUBLIC WORKS
 A budget adjustment in the amount of $750,000 is needed in the Capital Grants – Streets CIP Projects Fund (3160) for Project 101684 – Purchase Ethernet Switches. The project recently received an E-76 for grant funds to purchase ethernet switches and equipment from the Department of Transportation (CalTrans) on July 9,2025. The adjustment will recognize the grant revenue and amend the project discretionary expenditure accounts.
 A budget adjustment is necessary to increase the FY 2025-2026 10th Street JPA Allocation from various City funds for the fiscal year 2025-2026 assessment that was approved by the 10th Street JPA Commission Board on May 15, 2025, for the 10th Street Place, of which, the City’s portion of the increase is $525,937. The assessment of $525,937 has been split amongst several funds of which the breakdown can be seen below.

Fund Name Fund Total Change
General Fund 0100 $304,105
HUD Administration 1133 $4,420
Capital Improvement Support 1300 $30,795
Surface Transportation Fund 1700 $31,443
Water Fund 4100 $67,256
Sewer Operations Fund 4210 $23,022
#9..
- 178 -
City Council, September 9, 2025
Monthly Budget Adjustment Report

Solid Waste Fund 4891 $19,168
Mail Services ISF 5120 $1,459
Information Technology Fund 5230 $35,859
Insurance - Administration Fund 5310 $6,256
Employee Benefits Fund 5520 $2,154
Grand Total $525,937
#9..
- 179 -
Department Director/Director of Office Performance and Budget (OPMB)/City Manager Approved Budget Adjustments EXHIBIT B For FY2024/25
AT #
Approved
by CM,
Director
OPMB or
DD
Fund Fund Name Cost Ctr/Project Name Account Name Rev/Exp/TI/ TO Account
Current
Budget
Increase
(Decrease)
Revised
Budget Description
AT-161 OPMB Dir 0100 General Fund CED - Economic Development Budget Only - Salary Adjustment - Decrease Exp $ (34,300) $ (10,500) $ (44,800) AT-161 OPMB Dir 0100 General Fund CED - Economic Development Budget Only - Benefit adjustment - Decrease Exp $ (14,700) $ (4,500) $ (19,200) AT-161 OPMB Dir 0100 General Fund CED - Economic Development PC Software and Supplies Exp $ 32,492 $ 5,000 $ 37,492 AT-161 OPMB Dir 0100 General Fund CED - Economic Development Professional Services Exp $ 186,470 $ 10,000 $ 196,470 AT-163 DD 0100 General Fund CED - Building Safety Budget Only - Salary Adjustment - Decrease Exp $ (53,200) $ (21,000) $ (74,200) AT-163 DD 0100 General Fund CED - Building Safety Budget Only - Benefit Adjustment - Decrease Exp $ (22,800) $ (9,000) $ (31,800) AT-163 DD 0100 General Fund CED - Building Safety Professional Services Exp $ 92,500 $ 12,000 $ 104,500 AT-163 DD 0100 General Fund CED - Building Safety Books & Periodicals Exp $ 2,000 $ 18,000 $ 20,000 AT-164 DD 0100 General Fund CED - Building Safety IT Equipment Less Than Capitalization Exp $ 6,985 $ (5,863) $ 1,122 AT-164 DD 0100 General Fund CED - Building Safety Budget Only - Benefit Adjustment - Decrease Exp $ (31,800) $ (50,000) $ (81,800) AT-164 DD 0100 General Fund CED - Building Safety Printing and Binding Services Exp $ 2,000 $ 5,863 $ 7,863 AT-164 DD 0100 General Fund CED - Building Safety Professional Services Exp $ 92,500 $ 50,000 $ 142,500 AT-169 DD 0100 General Fund 33050 - After-school Program Salaries and Wages - Part-Time Exp $ 1,042,734 $ (50,000) $ 992,734 AT-169 DD 0100 General Fund 33050 - After-school Program Services City Forces - Intrafund Exp $ - $ 50,000 $ 50,000 AT-170 DD 0100 General Fund 14180 - CED - Economic Development Budget Only - Salary Adjustment - Decrease Exp $ (44,800) $ (28,000) $ (72,800) AT-170 DD 0100 General Fund 14180 - CED - Economic Development Budget Only - Benefit adjustment - Decrease Exp $ (19,200) $ (12,000) $ (31,200) AT-170 DD 0100 General Fund 14110 - CED - Administration Professional Services Exp $ 55,000 $ 40,000 $ 95,000 AT-177 DD 0100 General Fund OPMB - Budget Budget Only - Salary Adjustment - Decrease Exp $ (161,111) $ (11,500) $ (172,611) AT-177 DD 0100 General Fund OPMB - Budget Budget Only - Benefit adjustment - Decrease Exp $ (32,755) $ (2,000) $ (34,755) AT-177 DD 0100 General Fund OPMB - Administration Budget Only - Salary Adjustment - New Position Exp $ 183,679 $ 11,500 $ 195,179
AT-177 DD 0100 General Fund OPMB - Administration Budget Only - Benefit Adjustment - New Position Exp $ 33,896 $ 2,000 $ 35,896
AT-179 OPMB Dir 0100 General Fund 33050 - After-school Program Part-time Salaries Exp $ 992,734 $ (155,764) $ 836,970 AT-179 OPMB Dir 0100 General Fund 33040 - Guest Services Services City Forces - Intrafund Exp $ - $ 3,231 $ 3,231 AT-179 OPMB Dir 0100 General Fund 33050 - After-school Program Services City Forces - Intrafund Exp $ 128,596 $ 32,923 $ 161,519 AT-179 OPMB Dir 0100 General Fund 33120 - Senior and Children's Services Services City Forces - Intrafund Exp $ - $ 43,094 $ 43,094 AT-179 OPMB Dir 0100 General Fund 33130 - Senior and Children's Services Services City Forces - Intrafund Exp $ - $ 4,760 $ 4,760 AT-179 OPMB Dir 0100 General Fund 33320 - Maddux Youth Center Services City Forces - Intrafund Exp $ - $ 61,065 $ 61,065 AT-179 OPMB Dir 0100 General Fund 33330 - Neighborhood Center at Marshall Park Services City Forces - Intrafund Exp $ - $ 10,691 $ 10,691 AT-183 CM 0100 General Fund CCO - Elections Election Expenses Exp $ 600,000 $ (18,000) $ 582,000 AT-183 CM 0100 General Fund CCO - City Clerk's Office Budget Only - Salary Adjustment - Increase Exp $ - $ 12,600 $ 12,600 AT-183 CM 0100 General Fund CCO - City Clerk's Office Budget Only - Benefit Adjustment - Increase Exp $ - $ 5,400 $ 5,400 AT-187 OPMB Dir 0100 General Fund 01010 - CCM - City Council of Modesto Budget Only - Salary Adjustment - Decrease Exp $ - $ (17,500) $ (17,500) AT-187 OPMB Dir 0100 General Fund 01010 - CCM - City Council of Modesto Budget Only - Benefits Adjustment - Decrease Exp $ - $ (7,500) $ (7,500)
AT-187 OPMB Dir 0100 General Fund 01010 - CCM - City Council of Modesto Services City Forces - Interfund Exp $ - $ 24,500 $ 24,500 AT-187 OPMB Dir 0100 General Fund 01010 - CCM - City Council of Modesto Services City Forces - Intrafund Exp $ - $ 500 $ 500 AT-198 DD 0100 General Fund CED - Administration Budget Only - Salary Adjustment - Decrease Exp $ (25,200) $ (2,100) $ (27,300) AT-198 DD 0100 General Fund CED - Administration Budget Only - Benefit adjustment - Decrease Exp $ (10,800) $ (900) $ (11,700) AT-198 DD 0100 General Fund CED - Planning Professional Services Exp $ 208,400 $ (9,500) $ 198,900 AT-198 DD 0100 General Fund CED - Administration Services City Forces - Interfund Exp $ 5,358 $ 3,000 $ 8,358 AT-198 DD 0100 General Fund CED - Planning Budget Only - Salary Adjustment - Increase Exp $ - $ 6,650 $ 6,650 AT-198 DD 0100 General Fund CED - Planning Budget Only - Benefit Adjustment - Increase Exp $ - $ 2,850 $ 2,850 Total Changes for Fund 0100 $ 3,214,678 $ - $ 3,214,678 AT-182 OPMB Dir 1130 CDBG 101256 - CDBG CARES 42030 - HUD Revenue Rev $ 580,074 $ (26,502) $ 553,572 AT-182 OPMB Dir 1130 CDBG 101257 - CDBG CARES 42030 - HUD Revenue Rev $ 1,805,697 $ 26,323 $ 1,832,020 AT-182 OPMB Dir 1130 CDBG 101257 - CDBG CARES 42090 - Federal Misc. Rev $ - $ 182 $ 182 AT-182 OPMB Dir 1130 CDBG 101257 - CDBG CARES Services City Forces Interfund Exp $ 13,619 $ (4) $ 13,615 AT-182 OPMB Dir 1130 CDBG 101257 - CDBG CARES Direct Grants Exp $ 444,897 $ 1 $ 444,898 AT-182 OPMB Dir 1130 CDBG 101257 - CDBG CARES Services City Forces Interfund Exp $ 1,446 $ 1 $ 1,447 AT-182 OPMB Dir 1130 CDBG 101257 - CDBG CARES Services City Forces Interfund Exp $ 1,623 $ 1 $ 1,624 AT-182 OPMB Dir 1130 CDBG 101257 - CDBG CARES Services City Forces Interfund Exp $ 4,220 $ 1 $ 4,221 Total Changes for Fund 1130 $ 2,851,576 $ 3 $ 2,851,579 AT-172 BM 1170 HOME 101414 - HOME-ARP 42030 - HUD Revenue Rev $ 6,308,082 $ 5,098 $ 6,313,180 AT-172 BM 1170 HOME 101414 - HOME-ARP 54500 - Services City Forces - Interfund Exp $ 511,466 $ 5,098 $ 516,564 Total Changes for Fund 1170 $ 6,819,548 $ 10,196 $ 6,829,744 AT-166 OPMB Dir 1180 ESG Fund 101258 - ESG-CV CARES Act Fund Svcs City Forces-Interfund Exp $ 6,803 $ (430) $ 6,373 AT-166 OPMB Dir 1180 ESG Fund 101258 - ESG-CV CARES Act Fund Svcs City Forces-Interfund Exp $ 392,837 $ 1 $ 392,838 AT-166 OPMB Dir 1180 ESG Fund 101258 - ESG-CV CARES Act Fund Svcs City Forces-Interfund Exp $ 10,908 $ 1 $ 10,909 AT-166 OPMB Dir 1180 ESG Fund 101258 - ESG-CV CARES Act Fund Direct Grants Exp $ 751,522 $ 428 $ 751,950 Total Changes for Fund 1180 $ 1,162,070 $ - $ 1,162,070 A budget adjustment is necessary to reallocate salary savings between cost centers within the Office of Performance Management and Budget to account for remaining payroll through Fiscal Year 2024-25. There are sufficient savings within the Budget cost center to reallocate to the Administration cost center.

Due to the nature of PRND recreation program staffing, the division utilizes part-time staff across multiple cost centers to cover program needs. PRND performs budget adjustments to ensure that the budget for each cost center properly reflects the parttime staffing allocations. There is an overall net $0 effect on the Fund.

A budget adjustment is necessary to address the negative expense task lines and also move remaining CDBG CARES revenue from project 101256 to the other CDBG CARES project 101257. This clean-up allows the project to be closed out as the actuals are in balance.

A budget adjustment of $18,000 is necessary to move savings from Election Expenses to Appropriation Unit A to cover underbudgeted salary expenses.

A budget adjustment is necessary to move $50,000 from savings in Appr Unit A to Appr Unit C to correct and Overage in Appr Unit C
A budget adjustment is necessary in the amount of $40,000 to utilize salary savings to pay for underbudgeted Professional Services.

This budget adjustment is necessary to increase the HOME-ARP budget by the additional $5,098 that was received from HUD after the fact.

The Executive Assistant position in the Mayor and City Council's Office (CCM) was vacant from September to December in FY24-25. The City Clerk's Office (CCO) and City Manager's Office (CMO) provided administrative support to CCM during the vacancy and charged their time to CCM's cost center. This Budget Adjustment will transfer salary savings of $25,000 from CCM's Appropriation Unit A to CCM's Appropriation Unit C to cover the time charged by CCO and CMO.

A budget adjustment of $12,500 is necessary to move salary and discretionary savings within CED to address fiscal year end deficits.

A budget adjustment is necessary in the amount of $15,000 for underbudgeted Software and Professional Services.

A budget adjustment is necessary in the amount of $30,000 for underbudgeted Professional Services and Books & Periodicals.

A budget adjustment is necessary in the amount of $55,863 for underbudgeted Printing and Binding Service and Professional Services.

A budget adjustment is necessary to address the negative expense task budgets for the First Tee Activity project. This is a net zero impact in order to close-out the project. #9..
- 180 -
Department Director/Director of Office Performance and Budget (OPMB)/City Manager Approved Budget Adjustments EXHIBIT B For FY2024/25
AT #
Approved
by CM,
Director
OPMB or
DD
Fund Fund Name Cost Ctr/Project Name Account Name Rev/Exp/TI/ TO Account
Current
Budget
Increase
(Decrease)
Revised
Budget Description
AT-159 OPMB Dir 1341 Grants - Operation Grants
Reimbursed 101634 - Recycling Partnerships FY 25 Professional Services Exp $ 106,000 $ (38,000) $ 68,000 AT-159 OPMB Dir 1341 Grants - Operation Grants
Reimbursed 101634 - Recycling Partnerships FY 25 Recycling Education Exp $ - $ 38,000 $ 38,000 Total Changes for Fund 1341 $ 106,000 $ - $ 106,000
AT-196 CM 1342 Police Grants 101284 -20/21 SLESF 73122 - Transfer Out to 3122 TO $ - $ 50,000 $ 50,000 AT-196 CM 1342 Police Grants 101284 - 20/21 SLESF 71390 - Transfer out to 1390 TO $ 50,000 $ (50,000) $ - Total Changes for Fund 1342 $ 50,000 $ - $ 50,000
AT-192 CM 1346 CED Grants Reimbursed 101575 - Travelers Motel Svcs City Forces-Interfund Exp $ 101,692 $ 42,901 $ 144,593 AT-192 CM 1346 CED Grants Reimbursed 101575 - Travelers Motel Transfer In from 1170 TI $ 3,673,712 $ 42,901 $ 3,716,613 Total Changes for Fund 1346 $ 3,775,404 $ 85,802 $ 3,861,206 AT-162 OPMB Dir 1380 Non-Capital Parks Fund 101479 - Historical Property Improvements 47031 - Miscellaneous Donations/Contributions Rev $ 8,425 $ 2,723 $ 11,148
AT-162 OPMB Dir 1380 Non-Capital Parks Fund 101479 - Historical Property Improvements AUC - Jlancaster Exp $ 8,425 $ 2,723 $ 11,148 Total Changes for Fund 1380 $ 16,850 $ 5,446 $ 22,296
AT-194 CM 1390 American Rescue Plan Act 101345 - ARPA 2021 Spending (1st) 42022 - ARPA Revenue Rev $ 14,688,964 $ (919,792) $ 13,769,172 AT-194 CM 1390 American Rescue Plan Act 101345 - ARPA 2021 Spending (1st) Svcs City Forces - Interfund Exp $ 9,371,369 $ (919,792) $ 8,451,577 AT-195 CM 1390 American Rescue Plan Act 101429 - TRRP Master Plan Update 60100 Transfer in from 0100 TI $ 175,000 $ (93,704) $ 81,296 AT-195 CM 1390 American Rescue Plan Act 101429 - TRRP Master Plan Update 42405 Intergov - Local - CoM Contribution Rev $ - $ 93,704 $ 93,704 AT-196 CM 1390 American Rescue Plan Act 101448 - RTCC 61342 - Transfer in from 1342 TI $ 50,000 $ (50,000) $ - A budget adjustment of $50,000 is necessary to move the transfer in from SLESF funding from the complete ARPA RTCC project to the new SR911 Project.

AT-197 CM 1390 American Rescue Plan Act 101488 - TRRP ARPA Project Revenue 42022 - ARPA Revenue Rev $ 750,000 $ (175,000) $ 575,000 AT-197 CM 1390 American Rescue Plan Act 101488 - TRRP ARPA Project Revenue TRRP Legion Exp $ 105,000 $ (215) $ 104,785 AT-197 CM 1390 American Rescue Plan Act 101488 - TRRP ARPA Project Revenue TRRP Master Plan Exp $ 175,000 $ (81,296) $ 93,704 AT-197 CM 1390 American Rescue Plan Act 101488 - TRRP ARPA Project Revenue 60100 - Transfer In TO $ - $ 93,704 $ 93,704 Total Changes for Fund 1390 $ 25,315,333 $ (2,052,391) $ 23,262,942 AT-160 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101665 - 1200 Graphics CS-CD-Time and Materials Fee Rev $ - $ 10,000 $ 10,000 AT-160 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101665 - 1200 Graphics Professional Services Exp $ - $ 3,000 $ 3,000 AT-160 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101665 - 1200 Graphics Services City Forces - Interfund Exp $ - $ 7,000 $ 7,000 AT-174 DD 1800 Founder's Point East SP 14998 CED Non Capital Projects CS CD Time and Materials Fee for FPE SP Rev $ 10,000 $ 50,000 $ 60,000 AT-174 DD 1800 Founder's Point East SP 101589 CED - Founders Point East Specific Plan AUC Professional Services Exp $ 7,000 $ 33,000 $ 40,000 AT-174 DD 1800 Founder's Point East SP 101589 CED - Founders Point East Specific Plan AUC Services City Forces Interfund Exp $ 3,000 $ 17,000 $ 20,000 AT-181 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101669 McClure Project CS-CD Time and Materials Rev $ - $ 25,000 $ 25,000 AT-181 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101669 McClure Project AUC Professional Services Exp $ - $ 17,500 $ 17,500 AT-181 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101669 McClure Project AUC Services City Forces Interfund Exp $ - $ 7,500 $ 7,500 AT-184 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101533 - Olivewood Project CS-CD Time and Materials Fee Rev $ 5,000 $ 5,000 $ 10,000 AT-184 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101533 - Olivewood Project AUC Professional Services Exp $ 2,284 $ 3,500 $ 5,784 AT-184 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101533 - Olivewood Project AUC Services City Forces Interfund Exp $ 2,716 $ 1,500 $ 4,216 AT-188 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101647 - CED - 808 McHenry Rezone CS-CD Time and Materials Fee Rev $ 20,000 $ 20,000 AT-188 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101647 - CED - 808 McHenry Rezone AUC - Professional Services Exp $ 14,000 $ 14,000 AT-188 OPMB Dir 1800 Economic Development/Strategic
Plan Fund 101647 - CED - 808 McHenry Rezone AUC - Services City Forces - Interfund Exp $ 6,000 $ 6,000 Total Changes for Fund 1800 $ 30,000 $ 220,000 $ 250,000 AT-176 OPMB Dir 1850 Disability Access and Education
Fund CED - Disability Access and Education Fund CS-CD Disability Access and Education Fund Rev $ 40,000 $ 15,000 $ 55,000 AT-176 OPMB Dir 1850 Disability Access and Education
Fund CED - Disability Access and Education Fund Business Expenses Exp $ - $ 1,500 $ 1,500 #REF! $ 40,000 $ 16,500 $ 56,500
AT-167 OPMB Dir 3160 Capital Grants - Streets CIP
Projects 101519 - AB170 - Country Islands Project Construction Exp $ 5,340,737 $ (75,000) $ 5,265,737 AT-167 OPMB Dir 3160 Capital Grants - Streets CIP
Projects 101519 - AB170 - Country Islands Project Construction Administration Exp $ - $ 75,000 $ 75,000 #REF! $ 5,340,737 $ - $ 5,340,737
A budget adjustment of $15,000 is necessary to recognize revenue received and to increase expenditures in a like amount.

A budget adjustment in the amount of $25,000 is necessary to establish a project budget for the Time and Materials for the McClure project. Developer funded.

A budget adjustment in the amount of $5,000 is necessary to increase the time and materials budget for professional services, staff time, revenues and expenditures related to the Olivewood Project 101533. Developer funded.

A budget adjustment in the amount of $50,000 is necessary to capture the revenue deposited by the developer and expenses of the time and materials for the Found Point East Specific Plan project.

A budget adjustment in the amount of $20,000 is necessary to establish a project budget for the Time and Materials for the 808 McHenry Rezone project. Developer funded.

A budget adjustment in the amount of $42,901 is necessary to increase Activity Delivery for ongoing reporting and communication associated with the Travelers A budget adjustment of ($919,791) to reduce the public safety expense to align with the ARPA Spending Plan.

A budget adjustment of $93,704 to increase CoM Contribution revenue to align with the ARPA Spending Plan.

A budget adjustment of $50,000 is necessary to move the transfer in from SLESF funding from the completed ARPA RTCC project to the new SR911 Project.

A budget adjustment is necessary to clean-up project 101488 to align with the ARPA Spending Plan.

A budget adjustment is necessary to reallocate funds between accounts for Project 101634. The overall budget is not changing and the adjustment is moving funds to be spent on education and outreach in the project.

A budget adjustment in the amount of $10,000 is necessary to capture the revenue deposited by the developer and expenses of the time and materials (DPR-2025-0009) for the project at 1200 Graphics.

This budget adjustment will recognize recent donations to the Historical Properties Improvements project 101479 of $2,723 for the Janet Lancaster History Center.

A budget adjustment is necessary to reallocate funds from the Construction line to the Construction Administration task for staff time. The overall project budget is not changing.
#9..
- 181 -
Department Director/Director of Office Performance and Budget (OPMB)/City Manager Approved Budget Adjustments EXHIBIT B For FY2024/25
AT #
Approved
by CM,
Director
OPMB or
DD
Fund Fund Name Cost Ctr/Project Name Account Name Rev/Exp/TI/ TO Account
Current
Budget
Increase
(Decrease)
Revised
Budget Description
AT-165 OPMB Dir 3170 Capital Grants - HUD CIP Projects PFI First Tee Activity 1373 Contingency - CIP Exp $ 81,500 $ (8,678) $ 72,822 AT-165 OPMB Dir 3170 Capital Grants - HUD CIP Projects PFI First Tee Activity 1373 EDA -Administration Exp $ 71,000 $ 8,678 $ 79,678 Total Changes for Fund 3170 $ 152,500 $ - $ 152,500
AT-168 OPMB Dir 3218 Kiernan Business Park South #2
CFD Fund 14740 - CED Kiernan Business Park South #2 CFD Annexation CS-CD-Time and Materials Fees Rev $ 12,269 $ 3,861 $ 16,130 AT-168 OPMB Dir 3218 Kiernan Business Park South #2
CFD Fund 14740 - CED Kiernan Business Park South #2 CFD Annexation Legal Services Exp $ 4,000 $ 1,930 $ 5,930 AT-168 OPMB Dir 3218 Kiernan Business Park South #2
CFD Fund 14740 - CED Kiernan Business Park South #2 CFD Annexation Services City Forces - Interfund Exp $ 4,269 $ 1,931 $ 6,200 Total Changes for Fund 3218 $ 20,538 $ 7,722 $ 28,260
AT-196 CM 3122 Non-Capital Measure H Projects 101604 - SR911 Dispatch 61342 - Transfer in from 1342 TI $ - $ 50,000 $ 50,000 AT-196 CM 3122 Non-Capital Measure H Projects 101604 - SR911 Dispatch Professional Services Exp $ 2,000,000 $ 50,000 $ 2,050,000 Total Changes for Fund 3122 $ 2,000,000 $ 100,000 $ 2,100,000 AT-185 CM 3255 Tivoli CFD CED - Tivoli Annexation, Formation and Annual Maintenance Professional Services Exp $ - $ 3,750 $ 3,750 AT-185 CM 3255 Tivoli CFD CED - Tivoli Annexation, Formation and Annual Maintenance Legal Services Exp $ - $ 2,000 $ 2,000 AT-185 CM 3255 Tivoli CFD CED - Tivoli Annexation, Formation and Annual Maintenance Services City Forces - Interfund Exp $ - $ 3,750 $ 3,750 Total Changes for Fund 3255 $ - $ 9,500 $ 9,500
AT-178 CM 4112 Water PCE Mitigation 101462 - Water PCE Mitigation Site 1 Professional Services Exp $ 3,983,699 $ 152,748 $ 4,136,447 A budget adjustment is necessary to increase the project budget for Water PCE Mitigation Site 1 per City Attorney's approval.
#REF! $ 3,983,699 $ 152,748 $ 4,136,447
AT-199 DD 4700 Community Center Operations PRN - Cultural Services Administration Repair and Maintenance Services Exp $ 107,922 $ (10,000) $ 97,922 AT-199 DD 4700 Community Center Operations PRN - Cultural Services Administration Cashout - CTO Exp $ 8,000 $ 10,000 $ 18,000 Total Changes for Fund 4700 $ 115,922 $ - $ 115,922
AT-180 OPMB Dir 5110 Inventory Purchase Fund 12540 - FIN - Inventory Purchasing - Jefferson Interfund Charges - Sales of Inventory - Stores Rev $ 1,156,157 $ 20,000 $ 1,176,157
AT-180 OPMB Dir 5110 Inventory Purchase Fund 12540 - FIN - Inventory Purchasing - Jefferson Oracle Inventory - Cost of Good Sold Exp $ 1,156,157 $ 20,000 $ 1,176,157 Total Changes for Fund 5110 $ 2,312,314 $ 40,000 $ 2,352,314 AT-171 DD 5230 Information Technology Fund 17510 - Business Applications/Development Services Budget Only - Salary Adjustment - Decrease Exp $ - $ (250,000) $ (250,000) AT-171 DD 5230 Information Technology Fund 17510 - Business Applications/Development Services Budget Only - Benefit Adjustment - Decrease Exp $ - $ (100,000) $ (100,000) AT-171 DD 5230 Information Technology Fund 17710 - IT Network/Data Center Budget Only - Salary Adjustment - Decrease Exp $ - $ (250,000) $ (250,000) AT-171 DD 5230 Information Technology Fund 17710 - IT Network/Data Center Budget Only - Benefit Adjustment - Decrease Exp $ - $ (100,000) $ (100,000) AT-171 DD 5230 Information Technology Fund 17410 - IT Administration Budget Only - Benefit Adjustment - Increase Exp $ - $ 1,000 $ 1,000 AT-171 DD 5230 Information Technology Fund 17510 - Business Applications/Development Services Repair and Maintenance Services Exp $ 1,066,559 $ 444,000 $ 1,510,559 AT-171 DD 5230 Information Technology Fund 17510 - Business Applications/Development Services Professional Services Exp $ 633,804 $ 255,000 $ 888,804 #REF! $ 1,700,363 $ - $ 1,700,363
AT-175 DD 6710 TRRP CIP Fund 101478 - TRRP B Improvements Appr Unit C Exp $ 129,263 $ 3,674 $ 132,937 AT-175 DD 6710 TRRP CIP Fund 101478 - TRRP B Improvements AUC - EDA Exp $ 5,397 $ 21,326 $ 26,723 #REF! $ 134,660 $ 25,000 $ 159,660
A budget adjustment in the amount of $25,000 is necessary to increase Appr Unit C and AUC -EDA to correct negative task line and allocated more money for AUC -EDA.

A budget adjustment of $20,000 is necessary to increase the revenue and expense budgets for Jefferson Stores to account for an increase in supplies supplied to internal customers.

A budget adjustment of $50,000 is necessary to move the transfer in from SLESF funding from the complete ARPA RTCC project to the new SR911 Project A budget adjustment is necessary to reallocate salary savings between cost centers within the Information Technology Fund to account for remaining contracts that will be encumbered and paid for prior to the end of Fiscal Year 2024-25.

A budget adjustment of $9,500 is necessary to recognize developer deposits received and establish budget for Tivoli Annexation #2.

A budget adjustment of $3,861 is necessary to recognize developer deposits received and to increase discretionary expense budget.

A budget adjustment in the amount of $10,000 is necessary to move Appr Unit C to Appr Unit A to cover overage due to unexpected Cashout - CTO.

A budget adjustment is necessary to address the negative expense task budgets for the First Tee Activity project. This is a net zero impact in order to close-out the project. #9..
- 182 -

CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

September 9, 2025
Date: August 8, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Jessica Hill, Director of Community and Economic Development SUBJECT: Sustainable Transportation Planning Grant for the development of the Downtown Modesto Multimodal Transportation Network
CONTACT: Vanessa Castro, Senior Planner,
[email protected], 209-577-5282
DESCRIPTION:

Consider adopting Notice of Exemption EA/C&Ed NO. 2025-15, which affirms that the proposed project is exempt from the California Environmental Quality Act (CEQA) and accepting the California Department of Transportation (Caltrans) Sustainable Transportation Planning Fiscal Year 2025-26 Grant in the amount of $450,000 for the development of the Downtown Modesto Multimodal Transportation Network and Land Use Compatibility Plan. (Funding Source: Grant Funds and In-Kind Match)
STRATEGIC PLAN ELEMENT:

The recommended action supports the City’s 2025-2026 Strategic Plan Area of Focus: Quality of Life, Goal G: “Advance a pro-growth Economic Development Strategy that focuses on Downtown, Sports, and Entertainment, building Modesto as a regional destination.” BACKGROUND:

On August 11, 2020, by Resolution No. 2020-334 Council adopted the Downtown Master Plan, which outlines strategies to achieve the General Plan vision for downtown and emphasizes multimodal connectivity and transit-oriented development near the transit center.

In January 2025, the City of Modesto applied for a Caltrans Sustainable Transportation Planning Grant with a project titled Downtown Modesto Multimodal Transportation Network and Land Use Compatibility Plan, with the purpose of establishing a more refined vision for the future of Downtown Modesto on and around the transit center and to build on the efforts of the San Joaquin Regional Rail Commission’s Valley Rail Expansion Program to integrate the future rail network and its operations with the new Altamont Commuter Express commuter rail station in 2026.

The Caltrans Sustainable Transportation Planning Grant is a competitive statewide fund created to support the Caltrans mission of providing a safe and reliable transportation network that #10..
- 183 -
City Council, September 9, 2025
Sustainable Transportation Planning Grant for the development of the Downtown Modesto Multimodal Transportation Network

serves all people and respects the environment. The Program has $17 million available to fund Sustainable Communities grants. Sustainable Communities grants are funded by the State Highway Account and Senate Bill 1 (SB1). The Program is intended to support and implement the Regional Transportation Plan Sustainable Communities Strategies/Alternative Planning Strategies, contribute to the State’s greenhouse gas reduction targets and assist in achieving the Caltrans Mission and Grant Program Objectives:
 Encourage local and regional multimodal transportation and land use planning that furthers the region’s Regional Transportation Plan Sustainable Communities Strategy/Alternative Planning Strategy (where applicable). For applicants not in a Metropolitan Planning Organization region, address how the project encourages local and regional multimodal transportation and land use planning that advances sustainability
 Contribute to the State’s Greenhouse Gas reduction targets and other State goals, including but not limited to, the goals and best practices cited in the 2024 Regional Transportation Plan Guidelines
 Address the needs of under-resourced communities through robust public engagement Assist in achieving the Caltrans Mission and Grant Program Objectives (See Chapter 1.2).

This application follows up on the adopted strategies from the Downtown Master Plan and the Plan’s emphasis areas by establishing funding that intends to implement a Downtown Multimodal Transportation Network and Land Use Compatibility Plan.

DISCUSSION:

On July 1, 2025, the City of Modesto was notified by Caltrans of being selected as an awardee for the Program. The award amount totals $450,000 in grant funds with an 11.5% In-Kind match.

The grant funds will be utilized towards the following five activities:
 Consultant Procurement
o Consistent with state and federal requirements as necessary, the Local Assistance Procedures Manual for procuring non-Architectural and Engineering consultants, the Grant Application Guidelines, the Regional Planning Handbook, and the executed grant agreement between Caltrans and the City. The City will issue a Request for Proposal (RFP)/Request for Qualifications (RFQ) and hire a planning consultant to complete the project.
 Existing Conditions Review and Report
o Existing conditions will consider several project area factors, including but not limited to existing multimodal access, origins and destinations, housing needs, market conditions, parking needs, safety needs, and homelessness concerns.

The Existing Conditions will leverage maps, photos, and other graphic content to create a visually appealing and digestible report.
 Stakeholder and Public Engagement
o Stakeholder outreach and engagement strategy that includes identifying project stakeholders, the engagement timeline, methods of involvement, and an engagement summary to document activities and the results of engagement. The strategy should consider activities that will best identify community needs and desired outcomes, including engagement with disadvantaged communities in Census Tracts 15, 16.01, 16.04, 16.03, 22, 17, 18, 21, 23.01, and 23.02 at a #10..
- 184 -
City Council, September 9, 2025
Sustainable Transportation Planning Grant for the development of the Downtown Modesto Multimodal Transportation Network

minimum. Activities will include stakeholder coordination and working groups, community workshops, pop-up events, surveys, and social media collateral.  Disadvantaged Communities Analysis
o Analyze historically disadvantaged communities, areas of persistent poverty, and other forms of demographic analysis to determine how the project benefits the community. This will include an analysis of the displacement of residents and those experiencing homelessness and identify mitigations to reduce the potential impacts. The equity displacement strategy will be partially driven by stakeholder and community-based organization outreach efforts, including collaboration with the City Community Health and Assistance Team. Additionally, the analysis will identify opportunities to pursue Affordable Housing and Sustainable Communities funds. This task will also include an analysis of the displacement of residents and those experiencing homelessness and identify mitigations to reduce the potential impacts.
 Alternatives Analysis
o Analyze transit-oriented development, multimodal connectivity, land use, safety, zoning, economic, marketing, and infill development strategies. The intent of the Plan is to conduct high-level analysis of connectivity in the region, supported by zoning, economic marketing, and development strategies for the surrounding regions. The analysis will consider potential gaps in existing plans or efforts and identify strategies to prioritize in various reports, plans, maps, visual renderings, additional graphic content, and recommendations. This analysis will highlight Transit Oriented Development and active transportation projects for implementation and identify infill development opportunities within the planning area.
 Project Strategy and Action Plan
o The Consultant will prepare a project strategy that includes a financial plan detailing project cost estimates, private and public funding options, and other relevant financial information. This task primarily concerns identifying and prioritizing the program and public infrastructure projects.  Draft and Final Plan
The Final Plan will build on the foundation of previous work and coalesce these findings into goals and objectives. A summary of the study, outreach, data collection, and analysis will allow the public and practitioners to understand the comprehensive effort. Ultimately, the Plan coalesces learnings for implementing successful transportation network integration by breaking up this high-level outcome into smaller projects with anticipated milestones that align with future passenger rail service implementation.

Activity Estimated Costs
Project Administration $2,000
Consultant Procurement $3,000
Existing Conditions $87,697
Stakeholder and Public Engagement $142,250
Disadvantaged Communities Analysis $38,168
Alternatives Analysis $124,568
Project Strategy and Action Plan $65,934
Draft and Final Plan $44,883
Total $508,500
#10..
- 185 -
City Council, September 9, 2025
Sustainable Transportation Planning Grant for the development of the Downtown Modesto Multimodal Transportation Network

The Program operates as a reimbursement and the grant project period is from November 2025 through June 30, 2028 and all final reimbursement requests must be submitted by August 29, 2028. Commencement of reimbursable work on the project can begin following a fully executed Restricted Grant Agreement with Caltrans and Notice to Proceed.

FISCAL IMPACT:

The overall project budget is $508,500, of which $450,000 is the amount awarded by Caltrans.

The local match ($58,500, or 11.5% of the total budget, as required by the grant guidelines), will be provided by an in-kind match of staff time donated to the project.

COMMITTEE RECOMMENDATION:

In accordance with administrative directive number 7.2, which requires all grant applications and approved awards from $25,000 or more to be approved by the City Manager and Director of Finance, this item was approved by the City Manager and Director of Finance prior to being sent to Council for approval.

CEQA/NEPA REQUIREMENTS:

Section 15061(b)(3) of the CEQA Guidelines states that a project is exempt from CEQA if the activity is covered by the commonsense exemption that CEQA applies only to projects, which have the potential for causing a significant effect on the environment. 1 Since it can be seen with certainty that there is no possibility that the acceptance of grant funding to create a Downtown Multimodal Transportation Network and Land Use Compatibility Plan may have a significant effect on the environment, the project is not subject to CEQA.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution certifying and adopting notice of exemption EA/C&ED 2025-15, which affirms that the proposed project is exempt from the California Environmental Quality Act (CEQA) Pursuant to Section 15061(b)(3) of the CEQA Guidelines and, accepting the Department of Transportation (Caltrans) Sustainable Transportation Planning Grant for the Fiscal Year 2025- 26, in the amount of $450,000 for the development of the Downtown Modesto Multimodal Transportation Network and Land Use Compatibility Plan, and authorizing the City Manager, or designee, to execute all Grant Agreements and documents related thereto.

Resolution amending the Fiscal Year 2025-2026 multi-year project budget to establish a project in the amount of $508,500 for the Department of Transportation (Caltrans) Sustainable Transportation Planning Grant and authorizing the City Manager, or his designee, to take the necessary steps to implement the provisions in this Resolution. 1 2025 CEQA Statutes and Guidelines, Section 15061(b)(3), p. 199 https://www.califaep.org/docs/CEQA_Handbook_2025combined.pdf #10..
- 186 -
City Council, September 9, 2025
Sustainable Transportation Planning Grant for the development of the Downtown Modesto Multimodal Transportation Network

Approved by:

Jessica Hill, Director of Community and Economic
Development
Joseph P. Lopez, City Manager
Attachments:

1. Resolution Grant Acceptance

2. Resolution Amending Multi-Year Project Budget

3. Grant Award Notification Letter

4. Notice of Exemption EA/C&ED NO. 2025-15
#10..
- 187 -
09/09/2025/CED/JHill/Item xx 1 2025-xx

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-xx

RESOLUTION CERTIFYING AND ADOPTING NOTICE OF EXEMPTION
EA/C&ED NO. 2025-15, WHICH AFFIRMS THAT THE PROPOSED PROJECT

IS EXEMPT FROM THE CALIFORNIA ENVIRONMENTAL QUALITY ACT (CEQA) PURSUANT TO SECTION 15061(B)(3) OF THE CEQA GUIDELINES

AND, ACCEPTING THE DEPARTMENT OF TRANSPORTATION
(CALTRANS) SUSTAINABLE TRANSPORTATION PLANNING GRANT FOR THE FISCAL YEAR 2025-26, IN THE AMOUNT OF $450,000 FOR THE

DEVELOPMENT OF THE DOWNTOWN MODESTO MULTIMODAL

TRANSPORTATION NETWORK AND LAND USE COMPATIBILITY PLAN,

AND AUTHORIZING THE CITY MANAGER, OR DESIGNEE, TO EXECUTE

ALL GRANT AGREEMENTS AND DOCUMENTS RELATED THERETO
WHEREAS, in accordance with administrative directive number 7.2, the City will aggressively pursue grant funding from Federal, State, and other sources; and WHEREAS, the City is eligible to receive Federal and/or State funding for certain Transportation Projects through the California Department of Transportation (Caltrans); and
WHEREAS, a Restricted Grant Agreement is needed to be executed with Caltrans before such funds can be reimbursed through the Sustainable Transportation Planning Grant Program; and
WHEREAS, the City Council passed Resolution No. 2020-334, adopting the Downtown Master Plan on August 11, 2020; and
WHEREAS, the City of Modesto Downtown Master Plan recommends new transit-oriented development (TOD) in mixed-use areas near the train station site along 9 th street; and
WHEREAS, in January 2025, the City submitted an application for the Sustainable Transportation Planning Grant under the Sustainable Communities #10..
- 188 -
09/09/2025/CED/JHill/Item xx 2 2025-xx
competitive grant category; and
WHEREAS, the California Department of Transportation (Caltrans) has awarded $450,000 in Sustainable Communities grant funding for the development of the Downtown Modesto Multimodal Transportation Network and Land Use Compatibility Plan (Plan); and
WHEREAS, the purpose of the Plan is to establish a more refined vision for the future of Downtown Modesto on and around the transit center site, with emphasis on supporting the San Joaquin Regional Rail Commission’s Valley Rail Expansion Program to integrate the future rail network and its operations with the new Altamont Commuter Express commuter rail station; and
WHEREAS, Notice of Exemption EA/C&ED NO. 2025-15 affirms that the proposed project is exempt from the requirements of the California Environmental Quality Act (CEQA) pursuant to Section 15061(b)(3) of the CEQA Guidelines; and NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that the City Council hereby certifies and adopts Notice of Exemption EA/C&ED NO. 2025-15, which affirms that the proposed project is exempt from CEQA pursuant to Section 15061(b)(3) of the CEQA Guidelines, which states that a project is exempt from CEQA if the activity is covered by the commonsense exemption that CEQA applies only to projects, which have the potential for causing a significant effect on the environment, and since it can be seen with certainty that there is no possibility that the acceptance of grant funding to create a Downtown Multimodal Transportation Network and Land Use #10..
- 189 -
09/09/2025/CED/JHill/Item xx 3 2025-xx
Compatibility Plan may have a significant effect on the environment, this project is not subject to CEQA.

BE IT FURTHER RESOLVED that the City Manager, or designee, is hereby authorized to accept the Department of Transportation (Caltrans) Sustainable Transportation Planning Grant for the Fiscal Year 2025-26 in the amount of $450,000 for the development of the Downtown Multimodal Transportation Network and Land Use Compatibility Plan, and
BE IT FURTHER RESOLVED BY that the City Manager, or designee, is authorized to execute all Grant Agreements and documents related thereto. #10..
- 190 -
09/09/2025/CED/JHill/Item xx 4 2025-xx
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held 9th the day of September, 2025, 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
#10..
- 191 -
09/09/2025/CED/JHill/Item # 1 2025-XX

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-XX
RESOLUTION AMENDING THE FISCAL YEAR 2025-2026 MULTI-YEAR

PROJECT BUDGET TO ESTABLISH A PROJECT IN THE AMOUNT OF
$508,500 FOR THE DEPARTMENT OF TRANSPORTATION (CALTRANS)

SUSTAINABLE TRANSPORTATION PLANNING GRANT AND

AUTHORIZING THE CITY MANAGER, OR HIS DESIGNEE, TO TAKE THE

NECESSARY STEPS TO IMPLEMENT THE PROVISIONS IN THIS

RESOLUTION
WHEREAS, on July 1, 2025, the City of Modesto was notified by Caltrans of being selected as an awardee for the Sustainable Transportation Planning Fiscal Year 2025-2026 Program with an award amount of $450,000 in grant funds; and WHEREAS, the terms of the grant also require an 11.5% In-Kind Match, which is $58,500 in donated staff time; and
WHEREAS, the fiscal year 2025-2026 Multi-Year project budget must be amended to establish a project and budget in the amount of $508,500 related to the Department of Transportation (Caltrans) Sustainable Transportation Planning Grant, to budget the revenues and expenses and any necessary transfers.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto, that it hereby approves the amendment of the Fiscal Year 2025-2026 Multi-Year Project Budget to appropriate revenue and expenses in the total of $508,500 for the Department of Transportation (Caltrans) Sustainable Transportation Planning Grant and In-Kind Match.

BE IT FURTHER RESOLVED, that the City Manager, or his designee, is authorized to take the necessary steps to implement the provisions of this resolution. #10..
- 192 -
09/09/2025/CED/JHill/Item # 2 2025-XX
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 9th day of September, 2025, 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 votes:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

ATTEST: ________________________________

DIANE NAYARES-PEREZ, CMC,
City Clerk
(SEAL)
APPROVED AS TO FORM:

BY: _____________________________________
JOSE M. SANCHEZ, City Attorney
#10..
- 193 -
“Provide a safe and reliable transportation network that serves all people and respects the environment”

DIVISION OF TRANSPORTATION PLANNING
P.O. BOX 942873, MS–32 SACRAMENTO, CA 94273–0001
(916) 261-3326 | TTY 711
www.dot.ca.gov
July 1, 2025te

SENT VIA E-MAIL
On behalf of the California Department of Transportation (Caltrans), Division of Transportation Planning, we are pleased to congratulate you on your Sustainable Transportation Planning Grant award.

Sustainable Transportation Planning Grant Program
Grant Award
Fiscal Year
Grant
Category
Grant Fund
Source
Project Title
Grantee/Agency
Executive Director
Grantee/Agency
Contact
Sub-Recipient(s)
Caltrans District
Contact(s)
Caltrans District
Contact(s) E-mail
Grant Award Local Match
(Cash)
Local Match
(In-Kind)
Total
Local Match
%
Local Match
Total
Project Cost
Conditions of Award Due to Caltrans Grant Expiration Date Final Invoice Due * The final contractually agreed upon Local Match and Fund Source are located on the Grant Application Cover Sheet and Project Cost and Schedule. Any change in Local Match that increases/decreases the Total Project Cost must be approved by Caltrans and may require a Formal Amendment. Each invoice must include the contractual/agreed upon local match % - any deviation to this amount requires an approved Tapered Local Match Amendment prior to invoice submittal. Any change to the Local Match Fund Source requires prior Caltrans approval and an Administrative Amendment. 2025-26 Sustainable Communities Competitive RMRA Downtown Modesto Multimodal Transportation Network and Land Use Compatibility Action Plan City of Modesto Joseph Lopez Jessica Hill Gregoria Ponce, Tom Dumas [email protected], [email protected] $450,000 $0 $58,500 $58,500 11.50% $508,500 August 8, 2025 June 30, 2028 August 30, 2028 #10..
- 194 -
Caltrans Sustainable Transportation Planning Grant Program Grant Award

“Provide a safe and reliable transportation network that serves all people and respects the environment” Next Steps

1. The Caltrans District Grant Manager will schedule a Conditional Award Meeting with your agency soon.
 The attached specific and general conditions and project revisions necessary to accept grant funding will be discussed at this meeting.

2. The required conditions must be submitted to the Caltrans District Grant Manager no later than the date listed in the table above.
 Failure to satisfy these conditions will result in the forfeiture of grant funds.

3. The Caltrans District Grant Manager will review and approve all items required to fulfill the attached specific and general conditions.

4. Once the required conditions are met and the agreement is executed, the Caltrans District Grant Manager will:
 Send a Notice to Proceed letter (for MPO/RTPAs, this will happen after the OWP/OWPA formal amendment is processed). Grant work cannot begin until the Notice to Proceed letter is received by your agency.  Coordinate and schedule a grant kick-off meeting with your agency.

If you have questions concerning your Conditional Grant Award, please reach out to your Caltrans District contact listed in the table above.

Sincerely,

ERIN THOMPSON
Chief, Office of Regional and Community Planning
Attachments:

Specific and General Conditions
#10..
- 195 -

Sustainable Transportation Planning Grant Program
Grant Award Specific and General Conditions
Specific Conditions
If Specific Conditions have been identified for this grant, they will be listed below. Please make all necessary revisions to the Grant Application Cover Sheet, Scope of Work (SOW), and/or the Cost and Schedule, and complete the right column to indicate where the specific conditions were addressed.

Specific Conditions
Conditions Addressed
List Document,
Section & Page(s)

4. SOW Task 01: Task 01 is only for the grant kick-off meeting with Caltrans and quarterly invoicing/reporting. Remove reference to PMT meetings in the task narrative and deliverables.

Project management activities should be invoiced to those tasks where the project management-related coordination is occurring.

1. Cover Sheet, Part B: Identify specific funding source for the local match.

2. Cover Sheet, Part B: Update local match percentage to reflect 11.5%.

6. SOW Task 2: Include stakeholder list/meeting agenda/meeting notes and public engagement agenda/presentations/notes as deliverables.

7. Identify the authorized signer(s) and email address(s) for the grant agreement that will be routed via Adobe Acrobat Sign

5. SOW Task 2: Stakeholder & Public Engagement must be better developed to include the number of outreach efforts throughout the project and include details on outreach efforts with existing underserved communities. For example, how many In-Person Community Events, Forums, or surveys will be held?

3. Confirm In-kind match. If there is in-kind match, a Third-Party In-Kind Valuation Plan will be required upon final submittal.
#10..
- 196 -

Specific Conditions
Conditions Addressed
List Document,
Section & Page(s)
#10..
- 197 -

General Conditions
Please review the General Conditions below and complete them, as necessary. Most of these items are outlined in the Grant Application Guide, Ch. 6 and Appendix B. • Board Resolution – A current (less than one year old) Local Board Resolution, signed by the governing board that includes the grant project title and job title of the person authorized to enter into a contract with Caltrans, is required to be submitted to Caltrans by September 12, 2025.
• Government Entity Taxpayer ID Form is now required in place of the previously required STD-204. It is required by Caltrans Accounting to ensure payments are sent to the correct recipient and address.
• Scope of Work (SOW) and Project Cost and Schedule (Refer to Grant Application Guide, Appendix B Checklists) These are frequently missed requirements:
o Project Management stand-alone tasks, staff and/or consultant coordination are not allowed. Project Management activities must be charged to the tasks in which they are accrued.
o Include tasks for a kick-off meeting with Caltrans, invoicing, quarterly reporting, and Board adoption or acceptance.
o Ensure the deliverable for the consultant procurement task includes: Request for Proposal (RFP), executed consultant contract, and a copy of your agency’s procurement procedures.
o The earliest project start date is November 17, 2025, with an end date of June 30, 2028.

The Project Cost and Schedule will need be updated to reflect your proposed start date. At least one task must extend to the grant expiration date on June 30, 2028. o Indirect Costs - For Local Government Agencies requesting to bill for indirect costs:

Indirect costs must be identified in the SOW and Project Cost and Schedule, and the indirect cost rate included at the bottom of the Project Cost and Schedule. • Grant Application Cover Sheet and Project Cost and Schedule o Ensure the grant award, local match, and total project costs are consistent with the award letter amounts.
• Grant Application Cover Sheet - Must identify the specific source of cash and in-kind local match funds; and must identify the agency providing the local match. o If your agency is using staff time as a cash match, the application cover sheet must identify the source of local match funds for staff time (e.g., General Fund). o Direct grantee staff time is not an allowable in-kind match and must be identified as cash match.
• Third Party In-Kind Valuation Plan, if applicable - Third-party in-kind contributions consist of goods and services donated from outside the grantee’s agency (e.g., printing, facilities, interpreters, equipment, advertising, staff time, and other goods or services). If utilizing thirdparty in-kind contributions to satisfy the local match requirement:
o Ensure in-kind contribution information is identified on the Grant Application Cover Sheet and Project Cost and Schedule.
o To clarify, sub-recipient staff time, if reimbursed, is considered cash match. If donating their time, it is considered in-kind.
o Submit a Third-Party In-kind Valuation Plan. The district can provide a copy of the valuation plan checklist and template.
#10..
- 198 -

• Ensure Consistency - All changes made to the Grant Application Cover Sheet, SOW, and Project Cost and Schedule are made consistently in all documents.

Grant Administrative Requirements
Refer to the Grant Application Guide, Ch. 6, and the Restricted Grant Agreement boilerplate for a detailed overview of the Grant Administrative Requirements that must be adhered to over the life of the project. In summary:
• Third Party Contracts - Competitive consultant procurement, i.e., Request for Proposals (RFP) is required for all grant projects.
o If there is a consultant on-board, ensure the process to procure the consultant was a competitive process (documentation must be provided to Caltrans); the grant work must have been part of the original RFP.
o If using an on-call consultant list, the process for establishing the list must be competitive and less than five years old (documentation must be provided to Caltrans) • Quarterly Reporting – Quarterly Progress Reports (a narrative of completed project activities) are submitted on a quarterly basis.
• Invoicing and Financial Requirements –
o Maintain a proper accounting system (MS Excel is unacceptable). o Request for Reimbursements/invoices (RFRs) at least quarterly, but no more than monthly.
 One-time, lump sum invoices are not allowed.
 If requesting reimbursement of indirect costs, a copy of the ICAP/ICRP acceptance letter must be submitted with the first invoice.
 Local match commitments must be satisfied with every RFR/invoice, including any local match amount above the minimum amount. If you are unable to meet this commitment, coordinate with your district Contract Manager.  All work must be completed by June 30, 2028.
 Final RFR/invoice and the final product are due no later than August 29, 2028.  The final RFR/invoice will not be processed without the final product. o An Indirect Cost Allocation Plan/Indirect Cost Rate Proposal (ICAP/ICRP) must be submitted each year to the Inspector General Independent Office of Audits and Investigations for approval. Instructions for submitting an ICAP/ICRP are available at the following webpage: https://ig.dot.ca.gov/resources
• Grant Amendments - Proposed changes to the Grant Application Cover Sheet, SOW, and Project Cost and Schedule (e.g., local match amount, fund source, movement of funds) will require an amendment and Caltrans approval. Please contact Caltrans for guidance on this process.
#10..
- 199 -

Statutory Exemptions. State code number:

_______________________________________________
Print Form
Notice of Exemption Appendix E
To: Office of Planning and Research From: (Public Agency): ____________________________ P.O. Box 3044, Room 113 _______________________________________________ Sacramento, CA 95812-3044 County Clerk
(Address)
___________________________
___________________________
County of: __________________
Project Title: ____________________________________________________________________________ Project Applicant: ________________________________________________________________________ Project Location - Specific:

Project Location - City: ______________________ Project Location - County:

Description of Nature, Purpose and Beneficiaries of Project:
_____________________
Name of Public Agency Approving Project: _____________________________________________________ Name of Person or Agency Carrying Out Project: ________________________________________________ Exempt Status: (check one):

Ministerial (Sec. 21080(b)(1); 15268);
Declared Emergency (Sec. 21080(b)(3); 15269(a));
Emergency Project (Sec. 21080(b)(4); 15269(b)(c));
Reasons why project is exempt:

Lead Agency
Contact Person: ____________________________ Area Code/Telephone/Extension: _______________ If filed by applicant:

1. Attach certified document of exemption finding.

2. Has a Notice of Exemption been filed by the public agency approving the project? Yes No Signature: ____________________________ Date:

Signed by Lead Agency Signed by Applicant
Authority cited: Sections 21083 and 21110, Public Resources Code. Date Received for filing at OPR:

Reference: Sections 21108, 21152, and 21152.1, Public Resources Code. _______________
Categorical Exemption. State type and section number: ____________________________________ ______________________________________________
______________ Title: _______________________
Revised 2011
#10..
- 200 -

CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

September 9, 2025
Date: September 3, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Toby Wells, Director of Engineering Services Department / City Engineer SUBJECT: Accept the Upgrade Traffic Signals 2019 Project CONTACT: Peter Kambel, Senior Civil Engineer, [email protected], 209-577-5444 DESCRIPTION:

Consider accepting the Upgrade Traffic Signals 2019 Project as complete, releasing securities, releasing payments totaling $1,688,191 to St. Francis Electric, LLC., of San Leandro, CA, and authorizing the City Clerk to file a Notice of Completion. (Funding Source: Congestion Mitigation and Air Quality)
STRATEGIC PLAN ELEMENT:

The recommended action supports the City’s 2025-2026 Strategic Plan Initiatives, Goal D:

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

BACKGROUND:

The Upgrade Traffic Signals 2019 Project installed upgraded traffic signals at the intersections of Blue Gum Avenue and Carpenter Road, 12th Street and G Street, 14th Street and I Street, 17th Street and I Street, and 17th and d G Street.

DISCUSSION:

The project was advertised for bids on July 26, 2023. Bids were publicly opened on August 29, 2023, and St. Francis Electric, LLC., of San Leandro, CA, was the lowest responsible bidder at

37.43% above the engineers estimate.

On October 10, 2023, by Council Resolution 2023-458, Council awarded a contract to St. Francis Electric, LLC, in the amount of $1,561,400. The Contractor received the Notice to Proceed with a start date of January 2, 2024. Due to long project material lead times, the project was put into suspension until November 12, 2024. All contract work was completed on June 9, 2025.

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 #11..
- 201 -
City Council, September 9, 2025
Accept the Upgrade Traffic Signals 2019 Project

necessary steps to file the Notice of Completion with the County Recorder, release securities, and authorize payments totaling $1,688,191. 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 $1,894,742, which included design, construction, and construction administration costs. The total project amount originally budgeted was $1,975,170 which included $1,717,540, for the construction contract and contingency with St. Francis Electric, LLC.

The City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, updated by Resolution No. 2019-326 on July 9, 2019, and revised a second time September 12, 2023, by Resolution 2023-405 established a contract change order authority of 10% ($156,140) for construction contracts of this dollar value.

There are three (3) change orders resulting in an overall increase of $126,791 for change order work as listed on the attached change order log. A summary of the expenditures for the overall project is listed below.
101186– Upgrade Traffic Signals - 2019
PROJECT EXPENDITURES: % of Contract
Construction Contract (St. Francis Electric) $1,561,400 Construction Contingency (Change Orders) 8.1% $126,791
Construction Administration – City Staff Support 9.6% $149,801 Engineering Design/Admin. – City Staff Support/Misc. 3.6% $56,750 TOTAL CONSTRUCTION EXPENDITURES: $1,894,742
COMMITTEE RECOMMENDATION:

On March 16, 2022, this project was presented to the Economic Development Committee for consideration. The Committee recommended forwarding to Council for approval along with other Public Works and Utility CIP Projects.

CEQA/NEPA REQUIREMENTS:

Environmental review was provided through a Categorical Exemption under CEQA Section 15301, EA/PW 2019-010, filed July 9, 2019.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution accepting Upgrade Traffic Signals 2019 Project as complete, releasing securities, releasing payments totaling $1,688,191 to St. Francis Electric, LLC., of San Leandro, CA, and authorizing the City Clerk to file a Notice of Completion. #11..
- 202 -
City Council, September 9, 2025
Accept the Upgrade Traffic Signals 2019 Project

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

1. Resolution

2. Contract Change Order Log

3. Project Suspension Form

4. Notice of Completion
#11..
- 203 -
09/09/2025/ESD/PKambel 1 2025-

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-XX
RESOLUTION ACCEPTING UPGRADE TRAFFIC SIGNALS 2019 PROJECT

AS COMPLETE, RELEASING SECURITIES, RELEASING PAYMENTS
TOTALING $1,688,191 TO ST. FRANCIS ELECTRIC, LLC., OF SAN

LEANDRO, CA, AND AUTHORIZING THE CITY CLERK TO FILE A NOTICE

OF COMPLETION
WHEREAS, the Upgrade Traffic Signals 2019 Project installed upgraded traffic signals at the intersections of Blue Gum Avenue and Carpenter Road, 12th Street and G Street, 14th Street and I Street, 17th Street and I Street, and 17th and d G Street; and WHEREAS, the project was advertised for bids on July 26, 2023; and WHEREAS, bids were publicly opened on August 29, 2023, and St. Francis Electric, LLC., of San Leandro, CA, was the lowest responsible bidder at 37.43% above the engineers estimate; and
WHEREAS, on October 10, 2023, by Council Resolution 2023-458, Council awarded a contract to St. Francis Electric, LLC, in the amount of $1,561,400; and WHEREAS,. the Contractor received the Notice to Proceed with a start date of January 2, 2024. Due to long project material lead times, the project was put into suspension until November 12, 2024. All contract work was completed on June 9, 2025; and
WHEREAS, the total project costs were $1,894,742, which included design, construction, and construction administration costs. The total project amount originally budgeted was $1,975,170 which included $1,717,540, 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, updated by Resolution No. 2019-326 on July 9, #11..
- 204 -
09/09/2025/ESD/PKambel 2 2025-
2019, and revised a second time September 12, 2023 by Resolution 2023-405 established a contract change order authority of 10% for construction contracts of this dollar value; and
WHEREAS, there are three (3) change orders resulting in an overall increase of $126,791 for change order work as listed on the attached change order log; 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 City Council of the City of Modesto that the Upgrade Traffic Signals 2019 Project hereby accepted as complete, releasing securities, releasing payments totaling $1,688,191 to St. Francis Electric, LLC., of San Leandro, CA, and authorizing the City Clerk to file a Notice of Completion. #11..
- 205 -
09/09/2025/ESD/PKambel 3 2025-
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 9th day of September, 2025, 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
#11..
- 206 -
CHANGE
ORDER
NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: July 24, 2025
TIME
EXT. Approved
2023/17 - Upgrade Traffic Signals - 2019, CML 5059 (236) (101186) TERRACON PROJECT NUMBER AND NAME:
01 Various Changes all Intersections 17th & I, 12th & G, Carpenter & Blue Gum. 23 Additional Working Days.
04/01/25 $100,095.67 23 W.D. No Yes No Yes
02 Extra Work per Field Meeting on 2/5/25 04/01/25 $8,446.17 0 W.D. No Yes No Yes 03 Night Work-Switchover Delays 07/23/25 $18,248.37 0 W.D. No No Yes Yes Total Change Orders Processed To Date: $126,790.21
Original Contract Amount: $1,561,400.00
IDA To:

Total Working Days Time Extension: 23
Original Director's CCO Authority: $156,140.00
IDA Date: 10/10/2023
Total Executed Change Orders To Date: $126,790.21
#11..
- 207 -
CHANGE
ORDER
NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: July 24, 2025
TIME
EXT. Approved
#11..
- 208 -
#11..
- 209 -
#11..
- 210 -
#11..
- 211 -
#11..
- 212 -
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 October 10, 2023, 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., of San Leandro, CA for the project titled “Upgrade Traffic Signals 2019” located at the intersections of Blue Gum Avenue and Carpenter Road, 12th Street and G Street, 14th Street and I Street, 17th Street and I Street, and 17th Street and G Street. On June 9, 2025, said contract was 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 September 9, 2025.

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
#11..
- 213 -

CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

September 9, 2025
Date: August 20, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Toby Wells, Director of Engineering Services / City Engineer SUBJECT: Final Maps and Subdivision Improvement Agreements for Founders Point II Woodglen Villages 4A, 4B, and 6
CONTACT: Jaspreet Mangat, Senior Civil Engineer, [email protected] 209-577-5253
DESCRIPTION:

Consider approving the Subdivision Improvement Agreements (SIAs) and Final Maps for The Founders Point II Woodglen Villages 4A, 4B, and 6, which together comprise approximately 20.1 acres consisting of 138 residential lots, five (5) landscape lots, and public road right-of-way dedications of approximately 5.1 acres all located at the southwest corner of Bangs Avenue and Tully Road APNs # 046-007-048 and 046-007-049. (Funding: Developer Fees) STRATEGIC PLAN ELEMENT:

The recommended action supports the City’s 2025-2026 Strategic Plan Goal D, ensure safe, efficient, and reliable infrastructure.

BACKGROUND:

The 80.8-acre Woodglen Specific Plan was adopted by the City Council on November 6, 2013, by Resolution No. 2013-398. The Woodglen Specific Plan provides a planned residential development in the Kiernan-Carver Comprehensive Planning District as outlined by the land use diagram and development standards of the Specific Plan.

On June 3, 2019, the City of Modesto Planning Commission approved Resolution No. 2019-20 which approved the Tentative Subdivision Map (TSM 18-002) to facilitate 367 residential lots, two (2) open space/storm basin lots, one (1) park lot and ten (10) landscape lots, “Woodglen”.

On June 1, 2021, the City Council approved Resolution 2021-196, declaring the Council’s intention to establish City of Modesto Community Facilities District (CFD) No. 2021-1 (Woodglen) and authorize the levy of a special tax within said community facilities district. A public hearing was conducted on July 6, 2021, with the Council approving a resolution declaring the formation of CFD No. 2021-1, authorizing the levying of taxes within the Woodglen CFD and establishing an annual appropriations limit, made effective by Ordinance No. 3731-C.S. #12..
- 214 -
City Council, September 9, 2025
Final Maps and Subdivision Improvement Agreements for Founders Point II Woodglen Villages 4A, 4B, and 6

On December 5, 2023, the City Council approved Resolution 2023-519 annexing (Woodglen Villages 4A, 4B, and 6) APNs 046-007-048 and 046-007-049, to the Woodglen CFD No. 2021-1.

The current owner of Woodglen Villages 4A, 4B, and 6, FOR California Development LLC, a Delaware Limited Liability Company, has requested the City Council to approve the Subdivision Improvement Agreements and their respective Final Maps (FM2022-00439-4A, FM2022-00439- 4B, FM2022-00440) consisting of a combined total of 138 residential lots on 14.371 acres, five (5) landscape lots on 0.6 acres, public road right-of-way dedications of approximately 5.1 acres, and public utility and tree planting easements to be recorded with Stanislaus County Recorder’s Office.

DISCUSSION:

The public improvements for this project have not been completed. As required by Section 66462 of the California Subdivision Map Act and Section 4-4.605 of the Modesto Municipal Code, the owner, FOR California Development LLC, a Delaware Limited Liability Company has executed a Subdivision Improvement Agreement specifying that all improvements will be completed within 24 months from the date of Final Map recordation. The Subdivision Improvement Agreement requires the owner furnish and supply the City a payment bond and performance bond which provide security for completion of the public improvements.

The Final Map has been checked and certified by the Secretary of the Planning Commission, City Surveyor and the City Engineer and must be approved by Council prior to transmitting the map to the County Recorder.

Pursuant to the Subdivision Map Act, Section 66440, the Final Map contains a certificate for execution by the City Clerk Certifying that the Council approved the map and accepted, on behalf of the public, any real property offered for dedication for public use and in conformity with the terms of the offer of dedication.

When the public improvements required by the Subdivision Improvement Agreement have been completed and approved by staff, a notice of completion will be presented to Council which accepts the public improvements. As required by the Subdivision Improvement Agreement, the owner will file a warranty bond guaranteeing the work for 1-year after Council accepts the improvements.

FISCAL IMPACT:

All Map check fees for the map will be collected prior to recordation.

The Faithful Performance and Payment securities as required by the Modesto Municipal Code Section 4-4.605 will be in place with the City Clerk’s Office:
 A Faithful Performance security is required to secure faithful performance of the improvements. This security is required in an amount of 100% of the estimated cost of improvements to be performed.
 A Payment security is required to ensure the payment of the contractor, his/her subcontractors and to persons renting equipment or furnishing labor or materials to them for said improvements. This security is required in an amount of 50% of the estimated cost of improvements to be performed.
#12..
- 215 -
City Council, September 9, 2025
Final Maps and Subdivision Improvement Agreements for Founders Point II Woodglen Villages 4A, 4B, and 6

 A Warranty security is required to guarantee and warrant subdivision improvements for a period of one (1) year following completion and acceptance thereof against any defective work done, or defective materials furnished. This security is required prior to approval of the improvements in an amount of 10% of the estimated cost of improvements to be performed.

The City Engineer has determined that the required security is sufficient to cover the cost of said improvements, engineering, inspection, fees and incidental expenses. The securities on file with the City Clerk’s Office are based on the total Engineer’s Estimate of $2,421,396.79 ($867,594.42 for Village 4A, $973,476.41 for Village 4B and $580,325.96 for Village 6) for the value of all improvements to be constructed for Founders Point Woodglen Villages 4A, 4B and 6.

COMMITTEE RECOMMENDATION:

This item did not go to Committee, as it is common practice that Final Maps, which are certified by the Secretary of the Planning Commission, do not go before a Council Committee.

CEQA/NEPA REQUIREMENTS:

This action is exempt from CEQA under Section 15268(b)(3), which exempts ministerial actions.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution approving the Final Maps for Founders Point II Woodglen Villages 4A, 4B, and 6, approving the Subdivision Improvement Agreements and authorizing the City Manager, or his designee, to execute the Subdivision Improvement Agreements with FOR California Development LLC, a Delaware Limited Liability Company and authorize the City Clerk to certify the Final Maps and record with the Stanislaus County Recorder’s Office.

Approved by:

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

1. Resolution

2. Subdivision Improvement Agreements of Woodglen Villages 4A, 4B and 6

3. Final Maps

4. Engineer’s Estimate

5. Copy of Bonds
#12..
- 216 -
09/09/2025/ESD/JMangat/Item? 1 2025-??

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-XX

RESOLUTION APPROVING THE FINAL MAPS FOR FOUNDERS POINT II WOODGLEN VILLAGES 4A, 4B, AND 6, APPROVING THE SUBDIVISION

IMPROVEMENT AGREEMENTS AND AUTHORIZING THE CITY

MANAGER, OR HIS DESIGNEE, TO EXECUTE THE SUBDIVISION

IMPROVEMENT AGREEMENTS WITH FOR CALIFORNIA DEVELOPMENT

LLC, A DELAWARE LIMITED LIABILITY COMPANY AND AUTHORIZE

THE CITY CLERK TO CERTIFY THE FINAL MAPS AND RECORD WITH THE STANISLAUS COUNTY RECORDER’S OFFICE
WHEREAS, the Woodglen Specific Plan was adopted by the City Council on November 6, 2013 by Resolution No. 2013-398; and
WHEREAS, FOR California Development LLC, A Delaware Limited Liability Company (“SUBDIVIDER”), is in possession of a tract of land situated in the City of Modesto, County of Stanislaus, known as Woodglen Village 4A (“SUBDIVISION”) consisting of 7.5 acres, Woodglen Village 4B (“SUBDIVISION”), consisting of 8.2 acres; Woodglen Village 6 (“SUBDIVISION”), consisting of 4.4 acres, within the Woodglen Specific Plan Area; and
WHEREAS, a tentative subdivision map of the SUBDIVISION (TSM 18-002) was approved by the City of Modesto Planning Commission on June 3, 2019, with conditions of approval as noted in Planning Commission Resolution Number 2019-20; and
WHEREAS, as required by Section 66462 of the California Subdivision Map Act and Section 4-4.605 of the Modesto Municipal Code, the SUBDIVIDER has executed a Subdivision Improvement Agreement; and
WHEREAS, following a public hearing and special election on July 06, 2021, by Resolution 2021-268, Council approved the establishment of Community Facilities #12..
- 217 -
09/09/2025/ESD/JMangat/Item? 2 2025-??
District No. 2021-1 (Woodglen), and approved annexation of Woodglen Village 4A, 4B, and 6 into the Woodglen CFD by Resolution 2023-519 on December 5, 2023; and WHEREAS, the Secretary of the Planning Commission of the City of Modesto and the City Engineer have certified that the final maps of said tracts substantially conforms to the approved tentative subdivision maps; and WHEREAS, the City Engineer of the City of Modesto has certified that the final maps of said SUBDIVISIONS meets all of the provisions of the California Subdivision Map Act and the provisions of the Modesto Municipal Code relating to subdivisions, and the City Surveyor has determined that the maps are technically correct; and WHEREAS, the public improvements required by the Planning Commission conditions of approval have not been completed; and
WHEREAS, the SUBDIVIDER has furnished securities as set forth in Section 4-

4.605 of the Modesto Municipal Code, which shall secure the obligations set forth in Section 66499.3 of the Government Code of the State of California. Said securities are in forms acceptable to the City Attorney and in the amounts required by the City Engineer.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the Final Maps of Woodglen Village 4A, 4B, and 6 Subdivisions, approving the Subdivision Improvement Agreements and authorizing the City Manager, or his designee, to execute the Agreements with FOR California Development LLC; that the dedications for public streets and easements as shown thereon within the boundaries of said tract be accepted on behalf of the public for public use. #12..
- 218 -
09/09/2025/ESD/JMangat/Item? 3 2025-??
BE IT FURTHER RESOLVED that the City Clerk is hereby authorized to certify the maps of said tracts on behalf of the City of Modesto after the fees and deposits required by the Modesto Municipal Code in amounts determined by the City Engineer have been paid.

The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 9th day of September, 2025, 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
#12..
- 219 -
#12..
- 220 -
#12..
- 221 -
#12..
- 222 -
#12..
- 223 -
#12..
- 224 -
#12..
- 225 -
#12..
- 226 -
#12..
- 227 -
#12..
- 228 -
#12..
- 229 -
#12..
- 230 -
#12..
- 231 -
#12..
- 232 -
#12..
- 233 -
#12..
- 234 -
#12..
- 235 -
#12..
- 236 -
#12..
- 237 -
#12..
- 238 -
#12..
- 239 -
#12..
- 240 -
#12..
- 241 -
#12..
- 242 -
#12..
- 243 -
#12..
- 244 -
#12..
- 245 -
#12..
- 246 -
#12..
- 247 -
#12..
- 248 -
#12..
- 249 -
#12..
- 250 -
#12..
- 251 -
#12..
- 252 -
ITEM DESCRIPTION QTY. UNITS UNIT PRICE TOTAL PRICE

1. Mobilization 1 LS $57,500.00 $57,500.00

2. Pot-Hole Existing Utilities 1 LS $2,000.00 $2,000.00

3. Fine Grading 253,322 SF $0.25 $63,330.50
Sub-Total $122,830.50

1. 8" P.V.C. 1,473 LF $60.00 $88,380.00

2. 4" Wye & Lateral with Clean-Out 43 EA $1,000.00 $43,000.00

3. 4" Lateral Only with Clean-Out 4 EA $1,000.00 $4,000.00

4. Manhole 3 EA $3,100.00 $9,300.00

5. Terminal Manhole 1 EA $3,750.00 $3,750.00

6. Remove Plug and Connect to Existing Sewer 2 EA $200.00 $400.00 Sub-Total $148,830.00

1. Catch Basin 4 EA $3,000.00 $12,000.00

2. 12" P.V.C. 453 LF $45.00 $20,385.00

3. Manhole 2 EA $4,500.00 $9,000.00

4. Remove Plug and Connect to Existing Storm 2 EA $200.00 $400.00 Sub-Total $41,785.00

1. 6" P.V.C. 36 LF $40.00 $1,440.00

2. 8" P.V.C. 1,343 LF $50.00 $67,150.00

3. 1" House Service 45 EA $300.00 $13,500.00

4. Hydrant, Bury & Gate 3 EA $3,500.00 $10,500.00

5. 8" Gate Valve 5 EA $1,200.00 $6,000.00

6. Remove Cap and Connect to Existing Water 2 EA $250.00 $500.00 Sub-Total $99,090.00

1. 6" Vertical Curb and Gutter 36 LF $19.00 $684.00

2. 4 ½" Roll Curb and Gutter 2,927 LF $19.00 $55,613.00

3. Sidewalk 11,809 SF $5.80 $68,492.20

4. Handicap Ramp (Labor Only) 6 EA $425.00 $2,550.00

5. Remove Existing Header Board 66 SF $15.00 $990.00

6. Remove Existing Barricade 66 LF $5.00 $330.00

7. 0.20' A.C. & 0.35' A.B. 49,178 SF $2.75 $135,239.50
D. WATER
March 27, 2025
E. STREET WORK
C. STORM DRAIN
B. SANITARY SEWER
Engineer's Estimate

MODESTO, CALIFORNIA
54 LOTS, 7.391 ACRES

WOODGLEN SUBDIVISION
VILLAGE NO. 4A
A. SITE PREPARATION
4206 TECHNOLOGY DRIVE, SUITE 4, MODESTO, CA 95356 • PHONE: (209) 545-3390 • FAX: (209) 545-3875 • www.assoceng.com #12..
- 253 -

8. Truncated Dome Tiles 90 SF $70.00 $6,300.00

9. 6" retaining Curb at Ramps 92 LF $19.00 $1,748.00

10. Monument Well 8 EA $1,200.00 $9,600.00
Sub-Total $281,546.70
F. LIGHTING

1. LED Electrolier (25' Standard) 6 EA $5,500.00 $33,000.00 Sub-Total $33,000.00

1. Adjust Valve Boxes to Grade 8 EA $150.00 $1,200.00

2. Striping and Signage 1 LS $5,500.00 $5,500.00

3. 6' Masonry Wall 642 LF $70.00 $44,940.00

4. Traffic Control 1 LS $2,000.00 $2,000.00

5. Erosion Control / SWPPP 1 LS $8,000.00 $8,000.00
Sub-Total $61,640.00
$788,722.20
$78,872.22
GRAND TOTAL $867,594.42
10% CONTINGENCY

CONSTRUCTION TOTAL
G. MISCELLANEOUS
#12..
- 254 -
ITEM DESCRIPTION QTY. UNITS UNIT PRICE TOTAL PRICE

1. Mobilization 1 LS $64,900.00 $65,000.00

2. Pot-Hole Existing Utilities 1 LS $2,000.00 $2,000.00

3. Fine Grading 237,941 SF $0.25 $59,485.25
Sub-Total $126,485.25

1. 8" P.V.C. 1,067 LF $60.00 $64,020.00

2. 4" Wye & Lateral with Clean-Out 28 EA $1,000.00 $28,000.00

3. 4" Lateral Only with Clean-Out 4 EA $1,000.00 $4,000.00

4. Manhole 2 EA $3,100.00 $6,200.00

5. Terminal Manhole 2 EA $3,750.00 $7,500.00

6. Remove Plug and Connect to Existing Sewer 1 EA $200.00 $200.00 Sub-Total $109,920.00

1. Catch Basin 2 EA $3,000.00 $6,000.00

2. 12" P.V.C. 261 LF $45.00 $11,745.00

3. 15" P.V.C. 47 LF $50.00 $2,350.00

4. Manhole 2 EA $4,500.00 $9,000.00

5. Connect to Existing Sewer 2 EA $350.00 $700.00
Sub-Total $29,795.00

1. 6" P.V.C. 24 LF $40.00 $960.00

2. 8" P.V.C. 1,710 LF $50.00 $85,500.00

3. 1" House Service 46 EA $300.00 $13,800.00

4. Hydrant, Bury & Gate 2 EA $3,500.00 $7,000.00

5. 8" Gate Valve 5 EA $1,200.00 $6,000.00

6. Remove Cap and Connect to Existing Water 2 EA $250.00 $500.00 Sub-Total $113,760.00

1. 6" Vertical Curb and Gutter 238 LF $19.00 $4,522.00

2. 4 ½" Roll Curb and Gutter 3,133 LF $19.00 $59,527.00

3. Sidewalk 13,371 SF $5.80 $77,551.80

4. Handicap Ramp (Labor Only) 8 EA $425.00 $3,400.00

5. Remove Existing Header Board 66 SF $5.00 $330.00

6. Remove Existing Barricade 66 LF $15.00 $990.00
Engineer's Estimate

MODESTO, CALIFORNIA
48 LOTS, 8.324 ACRES

WOODGLEN SUBDIVISION
VILLAGE NO. 4B
A. SITE PREPARATION
D. WATER
March 27, 2025
E. STREET WORK
C. STORM DRAIN
B. SANITARY SEWER
4206 TECHNOLOGY DRIVE, SUITE 4, MODESTO, CA 95356 • PHONE: (209) 545-3390 • FAX: (209) 545-3875 • www.assoceng.com #12..
- 255 -

7. 0.20' A.C. & 0.35' A.B. 54,902 SF $2.75 $150,980.50

8. Truncated Dome Tiles 120 SF $70.00 $8,400.00

9. 6" Retaining Curb at Ramps 128 LF $19.00 $2,432.00

10. Monument Well 9 EA $1,200.00 $10,800.00
Sub-Total $318,933.30
F. LIGHTING

1. LED Electrolier (25' Standard) 8 EA $5,500.00 $44,000.00 Sub-Total $44,000.00

1. Adjust Existing Manhole to Grade 2 EA $250.00 $500.00

2. Adjust Valve Boxes to Grade 7 EA $150.00 $1,050.00

3. Striping and Signage 1 LS $3,000.00 $3,000.00

4. 6' Masonry Wall 563 LF $70.00 $39,410.00

5. 7' Masonry Wall 1,025 LF $85.00 $87,125.00

6. Traffic Control 1 LS $3,000.00 $3,000.00

7. Erosion Control / SWPPP 1 LS $8,000.00 $8,000.00
Sub-Total $142,085.00
$884,978.55
$88,497.86
GRAND TOTAL $973,476.41
10% CONTINGENCY

CONSTRUCTION TOTAL
G. MISCELLANEOUS
#12..
- 256 -
ITEM DESCRIPTION QTY. UNITS UNIT PRICE TOTAL PRICE

1. Mobilization 1 LS $37,600.00 $37,600.00

2. Pot-Hole Existing Utilities 1 LS $1,000.00 $1,000.00

3. Fine Grading 148,364 SF $0.25 $37,091.00
Sub-Total $75,691.00

1. 8" P.V.C. 722 LF $60.00 $43,320.00

2. 4" Wye & Lateral with Clean-Out 33 EA $1,000.00 $33,000.00

3. 4" Lateral Only with Clean-Out 3 EA $1,000.00 $3,000.00

4. Terminal Manhole 2 EA $3,750.00 $7,500.00

5. Remove Plug and Connect to Existing Sewer 2 EA $200.00 $400.00 Sub-Total $87,220.00

1. 6" P.V.C. 25 LF $40.00 $1,000.00

2. 8" P.V.C. 1,029 LF $50.00 $51,450.00

3. 1" House Service 32 EA $300.00 $9,600.00

4. Hydrant, Bury & Gate 2 EA $3,500.00 $7,000.00

5. 8" Gate Valve 2 EA $1,200.00 $2,400.00

6. Remove Cap and Connect to Existing Water 2 EA $250.00 $500.00 Sub-Total $71,950.00

1. 6" Vertical Curb and Gutter 210 LF $19.00 $3,990.00

2. 4 ½" Roll Curb and Gutter 1,815 LF $19.00 $34,485.00

3. Sidewalk 8,006 SF $5.80 $46,434.80

4. Remove Existing Header Board 66 LF $5.00 $330.00

5. Remove Existing Barricade 66 LF $15.00 $990.00

6. 0.20' A.C. & 0.35' A.B. 31,463 SF $2.75 $86,523.25

7. Monument Well 4 EA $1,200.00 $4,800.00
Sub-Total $177,553.05
E. LIGHTING

1. LED Electrolier (25' Standard) 4 EA $5,500.00 $22,000.00 Sub-Total $22,000.00
Engineer's Estimate

MODESTO, CALIFORNIA
36 LOTS, 4.421 ACRES

WOODGLEN SUBDIVISION
VILLAGE NO. 6
A. SITE PREPARATION
C. WATER
March 27, 2025
D. STREET WORK
B. SANITARY SEWER
4206 TECHNOLOGY DRIVE, SUITE 4, MODESTO, CA 95356 • PHONE: (209) 545-3390 • FAX: (209) 545-3875 • www.assoceng.com #12..
- 257 -

1. Adjust Valve Boxes to Grade 4 EA $150.00 $600.00

2. Striping and Signage 1 LS $3,250.00 $3,250.00

3. 6' Masonry Wall 432 LF $70.00 $30,240.00

4. 8' Masonry Wall 431 LF $115.00 $49,565.00

5. Traffic Control 1 LS $1,500.00 $1,500.00

6. Erosion Control / SWPPP 1 LS $8,000.00 $8,000.00
Sub-Total $93,155.00
$527,569.05
$52,756.91
GRAND TOTAL $580,325.96
10% CONTINGENCY

CONSTRUCTION TOTAL
F. MISCELLANEOUS
#12..
- 258 -
#12..
- 259 -
#12..
- 260 -
#12..
- 261 -
#12..
- 262 -
#12..
- 263 -
#12..
- 264 -
#12..
- 265 -
#12..
- 266 -
#12..
- 267 -
#12..
- 268 -
#12..
- 269 -
#12..
- 270 -
#12..
- 271 -
#12..
- 272 -
#12..
- 273 -
#12..
- 274 -
#12..
- 275 -
#12..
- 276 -
#12..
- 277 -
#12..
- 278 -
#12..
- 279 -
#12..
- 280 -
#12..
- 281 -
#12..
- 282 -
#12..
- 283 -
#12..
- 284 -
#12..
- 285 -
#12..
- 286 -
#12..
- 287 -
#12..
- 288 -
#12..
- 289 -
#12..
- 290 -
#12..
- 291 -
#12..
- 292 -
#12..
- 293 -
#12..
- 294 -
#12..
- 295 -

CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

September 9, 2025
Date: August 26, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: Annual Investment Report – Fiscal Year 2024-2025 CONTACT: Calogero Maniscalco, Senior Financial Analyst
[email protected], 209-577-5219
DESCRIPTION:

Consider delegating the responsibility for investment transactions to the Director of Finance and accepting the Annual Investment Report for Fiscal Year 2024-2025. (Funding Source: Various Funds)
STRATEGIC PLAN ELEMENT:

This item supports the City of Modesto 2025-2026 Strategic Plan focus of Governance and Service Delivery under Goal H: Achieve Long-Term Financial Sustainability.

BACKGROUND:

The City’s Finance Department submits a monthly investment report to Council and the City Manager. The final of these reports each fiscal year is an annual report. Attached are the June investment reports (see attachment list below) generated by Public Financial Management (PFM) Asset Management, the City’s investment advisor. Investments in the portfolio (Attachment 5) 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.

Pursuant to the Government Code, the authority of the City Council to invest or to reinvest funds of the City, or to sell or exchange securities, may be delegated for a one-year period to the Treasurer, who shall thereafter assume full responsibility for those transactions until the delegation of authority is revoked or expires. The Finance Department is responsible for the deposit and invests City fund as defined in the City Municipal Code 2-3.404. The Director of Finance fulfills the Treasurer responsibilities for the City of Modesto, and so the authority is provided to this position. This authority is an annual renewal the City needs to document through a Council action as defined in the Government Code. #13..
- 296 -
City Council, September 9, 2025
Annual Investment Report – Fiscal Year 2024-2025

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 Treasurer must be authorized on an annual basis to carry out these functions. The purpose of the Monthly and Annual Investment Reports are to keep the City Council and City Manager informed of the City’s investment portfolio. As shown in Attachment 3, on June 30, 2025, the City had a closing market value of $527,960,088 in its investment portfolio.

The U.S. Treasury yield curve steepened over the quarter. The front end of the yield curve moved lower amid expectations for Fed rate cuts while longer-dated tenors rose on concerns regarding the longer-term impacts of the proposed federal reconciliation bill. The 3-month Treasury was relatively unchanged given no rate cuts from the Fed while 2- and 5-year Treasuries fell by 15-16 bps to 3.72% and 3.80% respectively. In addition, the 2-year traded over a wide 60 basis point (bps) range during the quarter, highlighting the elevated volatility.

The 10-year Treasury increased by 2 bps to 4.23% while the 30-year Treasury increased by 16 bps to 4.78% as investors demanded more yield to make investments further out the curve.

U.S. Treasury Yields
Fiscal Year End
6/30/25
Fiscal Year End
6/30/24
Change
Year on Year
3-month 4.29% 5.35% (1.06%)
1-year 3.97% 5.11% (1.08%)
2-year 3.72% 4.75% (1.14%)
3-year 3.69% 4.55% (0.86%)
5-year 3.80% 4.38% (0.58%)
FISCAL IMPACT:

As mentioned, as of June 30, 2025, the City’s investment portfolio had an approximate market value of $528.0 million. For the year ending June 30, 2025, the City’s securities portfolio returned 6.40% versus the benchmark return of 6.07% (gross fees). This is a gross outperformance of 33 basis points (0.33%) against the benchmark.

The City’s portfolio is well balanced. The portfolio has sufficient liquidity with 42.46% in maturities under two years and 10.48% in overnight securities. The City’s portfolio remains diversified in U.S. government securities, corporate notes, negotiable CDs, and asset-backed securities. The City’s diversification has led to increased investment earnings vs the benchmark over the prior fiscal year.
#13..
- 297 -
City Council, September 9, 2025
Annual Investment Report – Fiscal Year 2024-2025

In June, the approximate yield of the City’s combined investments was 4.09% (see Attachment 4) on a weighted average. For the portfolio of securities alone, the yield to maturity on cost was

4.02%. For comparative purposes, the yields (as of June 30, 2025) of other investments commonly used by public agencies are listed below:

Local Agency Investment Fund: 4.27%
1-Year U.S. Treasury Note: 4.07%
2-Year U.S. Treasury Note: 3.75%

The Portfolio maintains sufficient liquidity to meet the City's projected expenditure requirements for at least the next six months.

COMMITTEE RECOMMENDATION:

The Finance Committee approved the Annual Investment Report at their August 25, 2025 meeting and recommended forwarding this item to Council for approval.

CEQA/NEPA REQUIREMENTS:

Not Applicable.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution delegating the responsibility for investment transactions to the Director of Finance and accepting the Annual Investment Report for Fiscal Year 2024-2025.

Approved by:

DeAnna Christensen, Director of Finance
Joseph P. Lopez, City Manager
Attachments:

1. Resolution

2. Monthly Investment Report

3. Account Statement

4. Combined Yields

5. Portfolio Holdings and Earnings Projections

6. Cash with Fiscal Agent

7. Committee Presentation
#13..
- 298 -
1 09/09/2025/Finance/CManiscalco/Item # 2025-xxx

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-XX

RESOLUTION DELEGATING THE RESPONSIBILITY FOR INVESTMENT

TRANSACTIONS TO THE DIRECTOR OF FINANCE AND ACCEPTING THE ANNUAL INVESTMENT REPORT FOR FISCAL YEAR 2024-2025
WHEREAS, the City’s Finance Department submits a monthly investment report to Council and the City Manager, the final of these reports each fiscal year is an annual report; and
WHEREAS, pursuant to the Government Code, the authority of the City Council to invest or to reinvest funds of the City, or to sell or exchange securities, may be delegated for a one-year period to the Treasurer, who shall thereafter assume full responsibility for those transactions until the delegation of authority is revoked or expires; and WHEREAS, the Director of Finance fulfills the Treasurer responsibilities for the City of Modesto, and so the authority is provided to this position; and WHEREAS, it is the function of the Finance Department to deposit and invest funds in accordance with the Government Code and as defined in the City Municipal Code 2

3.404, and to safeguard the principal and maintain the liquidity needs of the City; and WHEREAS, the Treasurer must be authorized on an annual basis to carry out these functions.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby delegates the responsibility for investment transactions to the Director of Finance and accepts the Annual Investment Report for Fiscal Year 2024-2025. #13..
- 299 -
2 09/09/2025/Finance/CManiscalco/Item # 2025-xxx
The foregoing resolution was introduced in a regular meeting of the Council of the City of Modesto held on the 9th day of September 2025, by Councilmember ________, who moved its adoption, which motion being duly seconded by Councilmember ______, was upon roll call carried and the resolution adopted by the following vote:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

ATTEST: _____________________________
DIANE NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:

BY: _______________________________________
JOSE M. SANCHEZ, City Attorney
#13..
- 300 -

PORTFOLIO HOLDINGS
Attachment 1
Percentages may not total to 100% due to rounding.

Investment Type No. of Investments Amount Invested
CAMP 1 $79,725,922.37
Federal Agency CMO 28 $84,984,297.56
U.S. Treasury 48 $237,783,015.80
Negotiable CD 1 $3,548,636.00
Corporate Note 36 $82,212,549.98
Asset-Backed 21 $37,905,666.72
Municipal 2 $1,800,000.00
Total Invested 137 $527,960,088.43
Sector Allocation
June 30, 2025 versus May 31, 2025
Sector June 30, 2025 May 31, 2025 Change in Allocation Permitted by Policy
U.S. Treasury 45.0% 46.4% -1.3% 100%
Federal Agency CMO 16.1% 16.1% -0.1% 100%
Negotiable CD 0.7% 0.7% 0.0% 30%
Corporate Note 15.6% 15.2% 0.4% 30%
Asset-Backed 7.2% 6.0% 1.1% 20%
Municipal 0.3% 0.4% -0.1% 100%
CAMP 15.1% 15.2% -0.1% 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
Increasing geopolitical tension in the Middle East adds to the already uncertain outlook. While the ceasefire has eased immediate concerns, future flare-ups may pressure domestic inflation through higher oil and energy prices. As expected, at the meeting held on June 18 the Federal Reserve (Fed) held the target range for the overnight rate unchanged at 4.25% to 4.50%. In its press release, the Fed noted uncertainty has diminished since April but remains elevated. During the press conference, Fed Chair Jerome Powell noted that the effect, size, and duration of tariffs are all highly uncertain and that warrants the Fed remaining on hold as it continues to observe the data. he Fed’s “dot plot” continued to show a median expectation of 50 basis points (bps) of rate cuts over the remainder of the year while its Summary of Economic Projections showed a weaker outlook for both gross domestic product (GDP) and PCE inflation. Fed Chair Powell emphasized the divergence of views across the committee noting eight members called for two cuts in 2025 while seven members project none. During the month, in the LongTerm Portfolio, we bought three 4.5- to 5-year asset-backed securities. We also purchased a 2.5-year corporate note and two 4.5 to 5-year U.S. Treasuries. Purchases were made by using the proceeds of one maturing Treasury bill and selling three 6-month U.S. Treasuries, one 6-month municipal, and two 1-year U.S. Treasuries. In the Short-Term Portfolio, there were no trading activity during this month. #13..
- 301 -

Long-Term Portfolio Total Return
June 30, 2025
1 Month Trailing
12 Months
Trailing 36
Months
Trailing 60
Months
Since
Inception5
City of Modesto Investment Portfolio1,2,3 0.80% 6.40% 3.64% 1.31% 2.23% Modesto Performance Benchmark4 0.74% 6.07% 3.23% 0.91% 1.93% Average Portfolio Yields
June 30, 2025
Past
Month
Past 3
Months
Past
Year
Past 3
Years
Past 5
Years
City of Modesto Investment Portfolio 4.02% 4.02% 3.76% 2.81% 2.35% City of Modesto Short-Term Portfolio 4.24% 4.40% 4.68% 4.55% - $117.7
$43.9
$69.4
$88.2
$112.5
$96.1
$-
$30.0
$60.0
$90.0
$120.0
$150.0
Under 6
Months
6-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years
Millions
Maturity Distribution
June 30, 2025

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 BofA 1-3 Year U.S. Treasury Index, and is now the ICE BofA 1-5 Year U.S. Treasury Index, sourced from Bloomberg Finance L.P.

5. Inception date is 3/31/04.

PERFORMANCE
Yields on 3-month, 2-year, and 10-year U.S. Treasuries ended June at 4.29%, 3.72%, and 4.23%, representing decreases of -4 bps, -18 bps, and -17 bps, respectively. Investment-grade (IG) corporate bond spreads inched tighter through June following notable retracement from prior months and now sit below their multi-year averages. Asset-backed securities (ABS) retraced from April wides, although to a lesser extent than similar duration IG corporates. Tightening spreads led to outperformance in these sectors, as compared to similar duration Treasuries. Agency-backed commercial MBS (CMBS) and mortgage-backed securities (MBS) also posted strong excess returns in June as waning bond volatility supported performance in mortgage-related sectors. As a result of lower interest rates during the month, both the portfolio and its benchmark returned positive performance in June, and the portfolio outperformed the benchmark. Since inception, the portfolio continues to produce strong performance and has outperformed the benchmark by 30 basis points each year on average.

Detail may not add to total due to rounding
#13..
- 302 -

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

0.30%
Fiscal Year-to-Date Income Return

3.26%
Prior 12 Months Income Return

3.26%
#13..
- 303 -

Economic Summary
Source: Bloomberg Finance L.P. as of July 8, 2025. Yellow dots represent activity impacting effective tariff rate (top). Bloomberg Finance L.P., Bureau of Labor Statistics and Bureau of Economic Analysis. The shading represents the deciles of each data point using 30 years of historical data. *Median forecasts sourced from Bloomberg Finance L.P. as of July 9, 2025. (bottom) Uncertainty Remains High
China +10%

3.7%
China +10%
Canada/Mexico +25%
Canadian energy +10%

11.5%
USMCA exemption for
Canada/Mexico

5.6%
Steel & aluminum
+25%

6.6%
+10% reciprocal
tariff

13.4%
China +50%

27.5%
China to 125%
Pause on other
reciprocal tariffs

26.9%
China to 30%

12.6%
Steel & aluminum
+25%

13.2%
Add appliances to steel &
aluminum

13.4%
New reciprocal tariffs
announced and set for
implementation Aug 1st
0%
5%
10%
15%
20%
25%
30%
3-Feb 17-Feb 3-Mar 17-Mar 31-Mar 14-Apr 28-Apr 12-May 26-May 9-Jun 23-Jun 7-Jul Effective Tariff Rate
Select Activity from February 3, 2025 to July 8, 2025
2023 2024 2025
CPI YoY 6.4 6.0 5.0 4.9 4.0 3.0 3.2 3.7 3.7 3.2 3.1 3.4 3.1 3.2 3.5 3.4 3.3 3.0 2.9 2.5 2.4 2.6 2.7 2.9 3.0 2.8 2.4 2.3 2.4 Unemployment
Rate 3.5 3.6 3.5 3.4 3.6 3.6 3.5 3.7 3.8 3.9 3.7 3.8 3.7 3.9 3.9 3.9 4.0 4.1 4.2 4.2 4.1 4.1 4.2 4.1 4.0 4.1 4.2 4.2 4.2 U.S. Real GDP
QoQ 2.8 2.4 4.4 3.2 1.6 3.0 3.1 2.4 -0.5 2.1%
Est.*
Consumption
QoQ 4.9 1.0 2.5 3.5 1.9 2.8 3.7 4.0 0.5 1.9%
Est.*
Worse Neutral Better
Economic Momentum Slows Amid Uncertainty
#13..
- 304 -

Source: Federal Reserve; Bloomberg Finance L.P.. Individual dots represent each Fed members’ judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end. As of June 2025(top). Federal Reserve, latest economic projections as of June 2025. (bottom).

Economic Summary
The Latest Fed “Dot Plot”
0%
1%
2%
3%
4%
5%
Fed Participants’ Assessments of ‘Appropriate’ Monetary Policy Jun-25 FOMC Projections
Mar-25 Median
Jun-25 Median
2025 2026 2027 Longer Term
2 cuts 1 cut 1 cut 3.0%

3.9%

3.6% 3.4%

3.0%
0%
1%
2%
3%
4%
5%
6%
2025 2026 2027 Longer
Run
Federal Funds Rate
Mar Projections Jun Projections
#13..
- 305 -

Source: ICE BofA 1-5 year Indices via Bloomberg Finance L.P., MarketAxess and PFMAM as of 06/31/2025. 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
Credit Spreads Narrowed in June

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%
Jun-23 Dec-23 Jun-24 Dec-24 Jun-25
Corporate Notes A-AAA Yield Spreads
-0.1%

0.0%

0.1%

0.2%

0.3%

0.4%
Jun-23 Dec-23 Jun-24 Dec-24 Jun-25
Federal Agency Yield Spread

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%
Jun-23 Dec-23 Jun-24 Dec-24 Jun-25
Asset-Backed Securities AAA Yield Spreads
#13..
- 306 -

U.S. Treasury Yields
Source: Bloomberg Finance L.P., as of 06/30/2025.

Economic Summary

5.5%

5.0%

4.5%

4.0%

3.5%

3.0%

2.5%

2.0%

1.5%

1.0%

0.5%

0.0%
06/30/2024
05/31/2025
06/30/2025
3-mo 2-yr 5-yr 10-yr 30-yr
#13..
- 307 -

The views expressed within this material constitute the perspective and judgment of U.S.

Bancorp Asset Management, Inc. at the time of distribution and are subject to change. Any forecast, projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon current opinion as of the date of issue and are also subject to change. Opinions and data presented are not necessarily indicative of future events or expected performance. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. No representation is made as to its accuracy or completeness.

PFM Asset Management serves clients in the public sector and is a division of U.S. Bancorp Asset Management, Inc., which is the legal entity providing investment advisory services. U.S.

Bancorp Asset Management, Inc. is a registered investment adviser, a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S. Bancorp. U.S. Bank N.A. is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Asset Management, Inc.

For more information regarding PFMAM’s services or entities, please visit www.pfmam.com.

Disclosures
#13..
- 308 -
For the Month Ending June 30, 2025
Account Statement
Consolidated Summary Statement
CITY OF MODESTO - Combined Portfolio
Investment Allocation
Investment Type Closing Market Value Percent
Asset-Backed Security 37,905,666.72 7.18
Corporate Note 72,423,084.16 13.72
Bank Note 9,789,465.82 1.85
Certificate of Deposit 3,548,636.00 0.67
Federal Agency Commercial Mortgage-Backed Security 84,984,297.56 16.10 Municipal Bond / Note 1,800,000.00 0.34
U.S. Treasury Bond / Note 237,783,015.80 45.04
CAMP Pool 79,725,922.37 15.10
Total $527,960,088.43 100.00%
Portfolio Summary
and Income
Closing
Portfolio Holdings Market Value
Cash Dividends
PFMAM Managed Account 1,516,799.08 448,234,166.06
CAMP Pool 0.00 79,725,922.37
Total $1,516,799.08 $527,960,088.43
Maturity Distribution (Fixed Income Holdings)
Portfolio Holdings Closing Market Value Percent
81,525,922.37
10,808,014.60
11,099,372.31
2,200,345.46
43,895,825.03
74,644,717.94
84,257,318.34
112,540,060.17
106,988,512.21

0.00 15.44

2.05 2.10

0.42 8.31

14.14 15.96

21.32 20.26

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 $527,960,088.43
858
100.00%
Weighted Average Days to Maturity
Sector Allocation

7.18%
ABS

13.72%
Corporate Note

1.85%
Bank Note

0.67%
Cert of Deposit

16.10%
Federal Agency
Commercial
Mortgage-Backed
Security

0.34%
Muni Bond / Note

45.04%
US TSY Bond / Note

15.10%
CAMP Pool
PFM Asset Management Summary Page 1
#13..
- 309 -
Managed Account Summary Statement For the Month Ending June 30, 2025 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)
$444,453,209.17
(1,520,026.91)
(16,553,901.84)
19,746,445.81

0.00 2,108,439.83
$448,234,166.06
1,084,662.63
(110,917.29)
543,053.74
$1,516,799.08
Total
445,566,704.90
3,024,896.93
16,619,594.15
1,520,026.91
1,018,970.32
(19,857,363.10)
(443,881,902.10)
(2,636,363.64)
Total Accrual Basis Earnings $1,374,564.37
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
900,000.00
16,619,594.15
1,018,970.32
620,026.91
(19,857,363.10)

48.03 0.00
Cash Balance
Closing Cash Balance $746,316.47
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 1 U.S. Bancorp Asset Management, Inc.
#13..
- 310 -
Portfolio Summary and Statistics For the Month Ending June 30, 2025 CITY OF MODESTO - Combined Portfolio
Account Summary
Description Par Value Market Value Percent
U.S. Treasury Bond / Note 239,720,000.00 237,783,015.80 53.05 Municipal Bond / Note 1,800,000.00 1,800,000.00 0.40
Federal Agency Commercial
Mortgage-Backed Security
83,638,491.17 84,984,297.56 18.96
Corporate Note 71,875,000.00 72,423,084.16 16.16
Certificate of Deposit 3,500,000.00 3,548,636.00 0.79
Bank Note 9,635,000.00 9,789,465.82 2.18
Asset-Backed Security 37,608,086.95 37,905,666.72 8.46
Managed Account Sub-Total 447,776,578.12 448,234,166.06 100.00% Accrued Interest 3,024,896.93
Total Portfolio 447,776,578.12 451,259,062.99
Unsettled Trades 0.00 0.00
Sector Allocation

8.46%
ABS

2.18%
Bank Note

0.79%
Cert of Deposit

16.16%
Corporate Note

18.96%
Federal Agency
Commercial
Mortgage-Backed
Security

0.40%
Muni Bond / Note

53.05%
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

5.78%

9.79%

16.65%

18.80%

25.11%

23.87%

0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 1011

4.10%

4.04%
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 2 U.S. Bancorp Asset Management, Inc.
#13..
- 311 -
Managed Account Issuer Summary For the Month Ending June 30, 2025 CITY OF MODESTO - Combined Portfolio
Credit Quality (S&P Ratings)

3.98%
A

9.20%
A+

0.47%
A1.72%
AA

73.17%
AA+

1.68%
AA7.92%
AAA

1.86%
NR
Issuer Summary
Issuer of Holdings Percent
Market Value
Adobe Inc 2,947,757.63 0.66
American Express Co 3,124,784.13 0.70
Apple Inc 5,217,695.60 1.17
BA Credit Card Trust 3,221,444.84 0.72
Bank of America Corp 9,992,952.38 2.23
Bank of New York Mellon Corp 6,130,731.96 1.37
BlackRock Inc 372,690.19 0.08
Bristol-Myers Squibb Co 2,200,345.46 0.49
Citigroup Inc 10,756,997.40 2.41
Cooperatieve Rabobank UA 3,548,636.00 0.79
Deere & Co 2,617,137.60 0.59
Eli Lilly & Co 2,960,605.25 0.66
Federal Home Loan Mortgage Corp 81,641,241.97 18.25
Federal National Mortgage Association 3,343,055.59 0.75 Fifth Third Auto Trust 2,251,496.11 0.50
GM Financial Consumer Automobile Receiv 1,050,375.09 0.23 Goldman Sachs Group Inc 3,024,612.00 0.68
Home Depot Inc 3,516,584.03 0.79
Honda Auto Receivables Owner Trust 1,939,749.85 0.43
Hyundai Auto Receivables Trust 3,676,723.60 0.82
JPMorgan Chase & Co 12,373,796.05 2.77
Kenvue Inc 2,355,089.60 0.53
Kubota Credit Owner Trust 2,467,599.79 0.55
Mastercard Inc 2,523,351.04 0.56
Microsoft Corp 5,917,953.00 1.32
Morgan Stanley 4,083,076.00 0.91
PACCAR Inc 1,157,691.78 0.26
PepsiCo Inc 2,708,144.28 0.61
State Board of Administration Finance C 1,800,000.00 0.40 State Street Corp 1,914,848.50 0.43
Target Corp 353,524.77 0.08
Toyota Auto Receivables Owner Trust 1,449,646.98 0.32
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 3 U.S. Bancorp Asset Management, Inc.
#13..
- 312 -
Managed Account Issuer Summary For the Month Ending June 30, 2025 CITY OF MODESTO - Combined Portfolio
Issuer of Holdings Percent
Market Value
Toyota Motor Corp 2,888,547.20 0.65
United States Treasury 237,783,015.80 53.17
USAA Auto Owner Trust 2,337,177.65 0.52
Walmart Inc 5,912,672.16 1.32
Wells Fargo & Co 5,706,389.82 1.28
Total $447,268,141.10 100.00%
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 4 U.S. Bancorp Asset Management, Inc.
#13..
- 313 -
Managed Account Detail of Securities Held For the Month Ending June 30, 2025 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note

US TREASURY N/B
DTD 07/31/2023 4.750% 07/31/2025
91282CHN4 10,805,000.00 AA+ Aa1 07/30/24 07/31/24 10,799,091.02 4.81 214,085.26 10,804,505.07 10,808,014.60

US TREASURY N/B
DTD 09/15/2022 3.500% 09/15/2025
91282CFK2 11,115,000.00 AA+ Aa1 09/16/24 09/16/24 11,061,595.90 4.00 114,170.38 11,103,832.91 11,099,372.31

US TREASURY N/B
DTD 02/28/2019 2.500% 02/28/2026
9128286F2 1,360,000.00 AA+ Aa1 03/01/21 03/01/21 1,479,850.00 0.70 11,364.13 1,375,892.44 1,345,018.24

US TREASURY N/B
DTD 03/01/2021 0.500% 02/28/2026
91282CBQ3 4,645,000.00 AA+ Aa1 04/06/22 04/07/22 4,259,973.05 2.76 7,762.70 4,579,521.07 4,533,636.13

US TREASURY N/B
DTD 03/01/2021 0.500% 02/28/2026
91282CBQ3 6,000,000.00 AA+ Aa1 12/03/21 12/07/21 5,838,281.25 1.15 10,027.17 5,974,652.89 5,856,150.00

US TREASURY N/B
DTD 03/31/2021 0.750% 03/31/2026
91282CBT7 2,480,000.00 AA+ Aa1 09/07/21 09/09/21 2,479,031.25 0.76 4,675.41 2,479,841.06 2,418,823.36

US TREASURY N/B
DTD 03/31/2021 0.750% 03/31/2026
91282CBT7 4,925,000.00 AA+ Aa1 04/29/21 04/30/21 4,896,719.73 0.87 9,284.84 4,920,701.27 4,803,510.10

US TREASURY N/B
DTD 05/15/2023 3.625% 05/15/2026
91282CHB0 11,085,000.00 AA+ Aa1 05/14/25 05/15/25 11,029,141.99 4.14 51,320.84 11,036,205.07 11,043,974.42

US TREASURY N/B
DTD 06/01/2021 0.750% 05/31/2026
91282CCF6 1,405,000.00 AA+ Aa1 06/23/21 06/25/21 1,396,987.11 0.87 892.52 1,403,513.99 1,363,659.28

US TREASURY N/B
DTD 06/01/2021 0.750% 05/31/2026
91282CCF6 4,615,000.00 AA+ Aa1 04/06/22 04/07/22 4,253,551.76 2.76 2,931.66 4,535,314.38 4,479,208.24

US TREASURY N/B
DTD 06/01/2021 0.750% 05/31/2026
91282CCF6 4,800,000.00 AA+ Aa1 06/06/22 06/08/22 4,399,125.00 2.99 3,049.18 4,707,851.17 4,658,764.80

US TREASURY N/B
DTD 08/31/2021 0.750% 08/31/2026
91282CCW9 4,640,000.00 AA+ Aa1 04/06/22 04/07/22 4,258,106.25 2.75 11,631.52 4,538,763.70 4,471,980.96

US TREASURY N/B
DTD 09/30/2021 0.875% 09/30/2026
91282CCZ2 4,310,000.00 AA+ Aa1 04/05/22 04/07/22 3,968,398.83 2.77 9,479.64 4,214,844.15 4,151,573.02

US TREASURY N/B
DTD 11/15/2016 2.000% 11/15/2026
912828U24 4,545,000.00 AA+ Aa1 06/06/22 06/08/22 4,355,920.90 3.01 11,609.51 4,486,444.97 4,431,552.26 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 5 U.S. Bancorp Asset Management, Inc.
#13..
- 314 -
Managed Account Detail of Securities Held For the Month Ending June 30, 2025 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note

US TREASURY N/B
DTD 02/15/2017 2.250% 02/15/2027
912828V98 9,220,000.00 AA+ Aa1 07/05/22 07/07/22 8,981,576.56 2.85 77,937.02 9,135,900.52 8,994,543.34

US TREASURY N/B
DTD 04/30/2020 0.500% 04/30/2027
912828ZN3 6,480,000.00 AA+ Aa1 08/03/22 08/05/22 5,791,500.00 2.92 5,458.70 6,213,997.69 6,109,428.24

US TREASURY N/B
DTD 06/30/2020 0.500% 06/30/2027
912828ZV5 5,545,000.00 AA+ Aa1 08/09/22 08/10/22 4,920,754.30 2.99 75.34 5,290,055.96 5,203,200.66

US TREASURY N/B
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 1,200,000.00 AA+ Aa1 08/29/22 08/31/22 1,142,625.00 3.30 10,143.65 1,175,433.36 1,163,859.60

US TREASURY N/B
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 2,985,000.00 AA+ Aa1 09/01/22 09/06/22 2,830,036.52 3.40 25,232.32 2,918,427.55 2,895,100.76

US TREASURY N/B
DTD 09/30/2022 4.125% 09/30/2027
91282CFM8 2,370,000.00 AA+ Aa1 11/01/22 11/03/22 2,354,539.45 4.27 24,574.18 2,362,916.79 2,391,292.08

US TREASURY N/B
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 2,715,000.00 AA+ Aa1 12/06/22 12/08/22 2,752,755.47 3.81 18,868.51 2,732,990.86 2,739,497.45

US TREASURY N/B
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 3,160,000.00 AA+ Aa1 12/13/22 12/14/22 3,229,495.31 3.63 21,961.14 3,193,226.71 3,188,512.68

US TREASURY N/B
DTD 11/02/2020 0.500% 10/31/2027
91282CAU5 8,775,000.00 AA+ Aa1 01/04/23 01/06/23 7,472,803.71 3.91 7,391.98 8,144,260.24 8,148,754.58

US TREASURY N/B
DTD 01/03/2023 3.875% 12/31/2027
91282CGC9 4,250,000.00 AA+ Aa1 06/01/23 06/05/23 4,266,933.59 3.78 447.52 4,259,257.70 4,267,765.00

US TREASURY N/B
DTD 02/01/2021 0.750% 01/31/2028
91282CBJ9 1,340,000.00 AA+ Aa1 01/31/23 01/31/23 1,163,182.81 3.66 4,192.13 1,248,589.58 1,243,006.78

US TREASURY N/B
DTD 01/31/2023 3.500% 01/31/2028
91282CGH8 2,220,000.00 AA+ Aa1 05/16/23 05/18/23 2,218,265.63 3.52 32,410.77 2,219,047.56 2,208,467.10

US TREASURY N/B
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 1,245,000.00 AA+ Aa1 03/03/23 03/07/23 1,231,188.28 4.25 16,645.11 1,237,616.04 1,254,288.95

US TREASURY N/B
DTD 03/31/2021 1.250% 03/31/2028
91282CBS9 2,555,000.00 AA+ Aa1 05/08/23 05/09/23 2,299,400.20 3.49 8,028.01 2,411,475.28 2,392,019.11 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 6 U.S. Bancorp Asset Management, Inc.
#13..
- 315 -
Managed Account Detail of Securities Held For the Month Ending June 30, 2025 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note

US TREASURY N/B
DTD 03/31/2023 3.625% 03/31/2028
91282CGT2 2,675,000.00 AA+ Aa1 05/01/23 05/02/23 2,672,178.71 3.65 24,374.66 2,673,421.96 2,669,984.38

US TREASURY N/B
DTD 05/01/2023 3.500% 04/30/2028
91282CHA2 2,810,000.00 AA+ Aa1 05/01/23 05/01/23 2,796,937.89 3.60 16,569.84 2,802,603.38 2,794,412.93

US TREASURY N/B
DTD 05/01/2023 3.500% 04/30/2028
91282CHA2 6,530,000.00 AA+ Aa1 05/03/23 05/04/23 6,559,844.14 3.40 38,505.71 6,546,927.50 6,493,778.09

US TREASURY N/B
DTD 04/01/2024 4.125% 03/31/2029
91282CKG5 3,450,000.00 AA+ Aa1 04/09/24 04/11/24 3,411,861.33 4.37 35,772.54 3,420,497.76 3,496,223.10

US TREASURY N/B
DTD 04/30/2024 4.625% 04/30/2029
91282CKP5 4,430,000.00 AA+ Aa1 10/16/24 10/17/24 4,571,725.39 3.85 34,519.09 4,551,224.33 4,567,919.19

US TREASURY N/B
DTD 04/30/2024 4.625% 04/30/2029
91282CKP5 5,190,000.00 AA+ Aa1 05/02/24 05/03/24 5,201,961.33 4.57 40,441.10 5,199,420.74 5,351,580.27

US TREASURY N/B
DTD 05/31/2024 4.500% 05/31/2029
91282CKT7 1,430,000.00 AA+ Aa1 06/06/24 06/07/24 1,442,959.38 4.30 5,450.41 1,440,413.79 1,468,821.64

US TREASURY N/B
DTD 05/31/2024 4.500% 05/31/2029
91282CKT7 4,190,000.00 AA+ Aa1 06/05/24 06/06/24 4,224,698.44 4.31 15,970.08 4,217,871.55 4,303,750.12

US TREASURY N/B
DTD 07/01/2024 4.250% 06/30/2029
91282CKX8 2,920,000.00 AA+ Aa1 07/01/24 07/02/24 2,896,959.38 4.43 337.23 2,901,169.87 2,973,722.16

US TREASURY N/B
DTD 07/31/2024 4.000% 07/31/2029
91282CLC3 2,105,000.00 AA+ Aa1 08/01/24 08/02/24 2,119,636.33 3.85 35,122.10 2,117,170.97 2,124,405.99

US TREASURY N/B
DTD 09/03/2024 3.625% 08/31/2029
91282CLK5 7,550,000.00 AA+ Aa1 09/04/24 09/05/24 7,565,630.86 3.58 91,477.07 7,563,269.64 7,511,366.65

US TREASURY N/B
DTD 09/30/2024 3.500% 09/30/2029
91282CLN9 8,695,000.00 AA+ Aa1 10/02/24 10/03/24 8,670,205.66 3.56 76,496.99 8,673,651.81 8,605,337.16

US TREASURY N/B
DTD 10/31/2024 4.125% 10/31/2029
91282CLR0 4,850,000.00 AA+ Aa1 11/01/24 11/04/24 4,838,064.45 4.18 33,706.18 4,839,514.30 4,918,583.85

US TREASURY N/B
DTD 12/02/2024 4.125% 11/30/2029
91282CMA6 6,315,000.00 AA+ Aa1 12/05/24 12/06/24 6,326,347.27 4.08 22,063.68 6,325,185.57 6,406,516.98 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 7 U.S. Bancorp Asset Management, Inc.
#13..
- 316 -
Managed Account Detail of Securities Held For the Month Ending June 30, 2025 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note

US TREASURY N/B
DTD 12/31/2024 4.375% 12/31/2029
91282CMD0 12,365,000.00 AA+ Aa1 01/06/25 01/07/25 12,337,468.55 4.43 1,470.02 12,339,886.65 12,669,290.29

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 3,470,000.00 AA+ Aa1 02/04/25 02/05/25 3,457,123.04 4.33 61,515.81 3,458,074.92 3,537,907.90

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 5,215,000.00 AA+ Aa1 06/04/25 06/05/25 5,274,279.88 3.98 92,451.00 5,273,449.82 5,317,057.55

US TREASURY N/B
DTD 02/28/2023 4.000% 02/28/2030
91282CGQ8 8,565,000.00 AA+ Aa1 03/04/25 03/05/25 8,580,724.80 3.96 114,510.33 8,579,823.97 8,646,967.05

US TREASURY N/B
DTD 03/31/2025 4.000% 03/31/2030
91282CMU2 10,775,000.00 AA+ Aa1 04/01/25 04/02/25 10,828,875.00 3.89 108,338.80 10,826,486.40 10,873,074.05

US TREASURY N/B
DTD 05/31/2023 3.750% 05/31/2030
91282CHF1 5,400,000.00 AA+ Aa1 06/04/25 06/05/25 5,339,039.06 4.00 17,151.64 5,339,854.84 5,387,342.40 Security Type Sub-Total 239,720,000.00 234,247,351.76 3.58 1,581,895.42 237,794,999.75 237,783,015.80 Municipal Bond / Note

FLORIDA ST BRD OF ADM
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 505,000.00 AA Aa2 09/03/20 09/16/20 508,570.35 1.11 3,176.45 505,000.00 505,000.00

FLORIDA ST BRD OF ADM
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 1,295,000.00 AA Aa2 09/03/20 09/16/20 1,295,000.00 1.26 8,145.55 1,295,000.00 1,295,000.00 Security Type Sub-Total 1,800,000.00 1,803,570.35 1.22 11,322.00 1,800,000.00 1,800,000.00 Federal Agency Commercial Mortgage-Backed Security
FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
3137BTUM1 2,383,107.68 AA+ Aa1 05/19/23 05/24/23 2,309,752.64 4.29 6,646.88 2,353,788.93 2,354,944.11 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
3137BXQY1 4,000,000.00 AA+ Aa1 08/16/23 08/18/23 3,773,125.00 4.94 10,746.67 3,890,848.11 3,939,100.00 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 2,275,000.00 AA+ Aa1 08/16/23 08/18/23 2,144,987.30 4.93 6,148.19 2,210,924.41 2,238,852.53 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 8 U.S. Bancorp Asset Management, Inc.
#13..
- 317 -
Managed Account Detail of Securities Held For the Month Ending June 30, 2025 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 K066 A2
DTD 08/01/2017 3.117% 06/01/2027
3137F2LJ3 3,530,000.00 AA+ Aa1 08/17/23 08/22/23 3,301,101.56 4.97 9,169.18 3,411,826.83 3,467,141.29 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
3137HAMR4 3,430,461.12 AA+ Aa1 09/20/23 09/28/23 3,376,626.89 5.19 13,721.84 3,395,181.77 3,479,376.07 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
3137HAMG8 1,865,616.73 AA+ Aa1 09/07/23 09/14/23 1,837,716.42 5.01 7,229.26 1,847,587.82 1,888,916.42 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 2,771,061.07 AA+ Aa1 07/19/23 07/27/23 2,770,991.80 4.78 11,031.13 2,771,018.99 2,793,340.40 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 3,500,000.00 AA+ Aa1 07/13/23 07/20/23 3,534,958.00 4.59 14,055.42 3,521,152.05 3,562,664.00 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
3136BQDE6 3,342,975.36 AA+ Aa1 07/18/23 07/31/23 3,286,301.48 4.58 11,672.56 3,308,099.13 3,343,055.59 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 1,995,269.20 AA+ Aa1 09/19/23 09/28/23 1,995,259.22 5.27 8,765.88 1,995,263.39 2,036,208.14 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 3,800,000.00 AA+ Aa1 09/07/23 09/14/23 3,743,786.60 4.99 14,725.00 3,762,559.37 3,854,674.40 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 3,850,000.00 AA+ Aa1 10/11/23 10/19/23 3,765,546.40 5.25 15,207.50 3,792,641.94 3,915,646.35 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 2,890,000.00 AA+ Aa1 10/25/23 10/31/23 2,797,858.13 5.60 11,680.42 2,825,350.50 2,948,903.98 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 3,800,000.00 AA+ Aa1 09/20/23 09/28/23 3,754,578.60 5.07 15,200.00 3,768,773.86 3,872,010.00 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 1,465,000.00 AA+ Aa1 11/14/23 11/21/23 1,460,764.69 5.14 6,188.40 1,462,030.12 1,504,153.59 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 2,125,000.00 AA+ Aa1 11/28/23 12/07/23 2,118,894.88 4.93 8,606.25 2,120,690.25 2,171,108.25 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
3137HBCF9 1,935,000.00 AA+ Aa1 12/11/23 12/21/23 1,953,069.03 4.79 8,062.50 1,947,936.33 1,984,189.64 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 9 U.S. Bancorp Asset Management, Inc.
#13..
- 318 -
Managed Account Detail of Securities Held For the Month Ending June 30, 2025 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+ Aa1 01/10/24 01/18/24 2,211,875.91 4.50 8,621.30 2,205,957.84 2,228,736.72 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 2,220,000.00 AA+ Aa1 02/01/24 02/08/24 2,242,197.78 4.34 8,458.20 2,236,342.09 2,248,473.72 FHMS K518 A2
DTD 03/01/2024 5.400% 01/01/2029
3137HC2L5 2,715,000.00 AA+ Aa1 03/19/24 03/28/24 2,780,553.68 4.83 12,217.50 2,765,736.61 2,820,730.25 FHMS K517 A2
DTD 03/01/2024 5.355% 01/01/2029
3137HC2C5 3,355,000.00 AA+ Aa1 03/05/24 03/14/24 3,455,603.03 4.67 14,971.69 3,431,063.56 3,479,067.90 FHMS K515 A2
DTD 02/01/2024 5.400% 01/01/2029
3137HBPD0 3,750,000.00 AA+ Aa1 02/14/24 02/22/24 3,851,025.00 4.79 16,875.00 3,825,593.61 3,893,613.75 FHMS K516 A2
DTD 03/01/2024 5.477% 01/01/2029
3137HBPM0 3,750,000.00 AA+ Aa1 02/29/24 03/07/24 3,862,488.75 4.79 17,115.63 3,834,809.93 3,904,541.25 FHMS K520 A2
DTD 04/01/2024 5.180% 03/01/2029
3137HCKV3 2,125,000.00 AA+ Aa1 04/23/24 04/30/24 2,133,625.38 5.09 9,172.92 2,131,871.83 2,195,696.62 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
3137HDV56 3,245,000.00 AA+ Aa1 07/16/24 07/25/24 3,264,927.54 4.58 12,763.67 3,261,691.41 3,307,651.22 FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
3137HDJJ0 3,850,000.00 AA+ Aa1 06/05/24 06/13/24 3,849,988.45 4.80 15,409.63 3,850,000.00 3,933,494.95 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
3137HDXL9 3,500,000.00 AA+ Aa1 08/07/24 08/15/24 3,532,739.00 4.33 13,250.42 3,527,448.90 3,545,853.50 FHMS K530 A2
DTD 11/01/2024 4.792% 09/01/2029
3137HHJL6 3,980,000.00 AA+ Aa1 11/19/24 11/27/24 4,000,723.86 4.67 15,893.47 3,998,715.29 4,072,152.92 Security Type Sub-Total 83,638,491.17 83,111,067.02 4.84 323,606.51 83,454,904.87 84,984,297.56 Corporate Note

BRISTOL-MYERS SQUIBB CO (CALLABLE)
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 2,230.00 2,228,401.35 2,200,345.46

BANK OF NY MELLON CORP (CALLABLE)
DTD 01/28/2021 0.750% 01/28/2026
06406RAQ0 3,465,000.00 A Aa3 02/02/21 02/04/21 3,465,831.60 0.75 11,044.69 3,465,095.95 3,393,080.46 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 10 U.S. Bancorp Asset Management, Inc.
#13..
- 319 -
Managed Account Detail of Securities Held For the Month Ending June 30, 2025 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 (CALLABLE)
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 28,600.00 3,008,209.95 2,948,772.00

BANK OF AMERICA NA (CALLABLE)
DTD 08/18/2023 5.526% 08/18/2026
06428CAA2 3,750,000.00 A+ Aa2 08/15/23 08/18/23 3,749,700.00 5.53 76,558.13 3,749,886.94 3,803,107.50

MASTERCARD INC (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 8,391.11 2,515,322.64 2,523,351.04

JP MORGAN CHASE BANK NA (CALLABLE)
DTD 12/08/2023 5.110% 12/08/2026
48125LRU8 850,000.00 AA- Aa2 06/03/24 06/04/24 849,226.50 5.15 2,775.01 849,546.92 860,713.40

JP MORGAN CHASE BANK NA (CALLABLE)
DTD 12/08/2023 5.110% 12/08/2026
48125LRU8 3,500,000.00 AA- Aa2 12/05/23 12/08/23 3,500,000.00 5.11 11,426.53 3,500,000.00 3,544,114.00

TARGET CORP (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 3,281.96 364,808.06 353,524.77

MICROSOFT CORP (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 39,875.00 2,966,877.68 2,969,181.00

GOLDMAN SACHS BANK USA (CALLABLE)
DTD 05/21/2024 5.414% 05/21/2027
38151LAG5 3,000,000.00 A+ A1 05/21/25 05/22/25 3,018,870.00 5.08 18,046.67 3,016,845.79 3,024,612.00

HOME DEPOT INC (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 30,043.22 3,512,625.89 3,516,584.03

JPMORGAN CHASE & CO (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 15,958.41 1,456,513.61 1,499,764.08

KENVUE INC (CALLABLE)
DTD 10/17/2023 5.050% 03/22/2028
49177JAF9 2,300,000.00 A A1 06/27/25 06/30/25 2,354,303.00 4.12 31,941.25 2,354,250.66 2,355,089.60

WALMART INC (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 10,044.67 1,218,454.17 1,221,298.08

APPLE INC (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 29,466.67 5,209,286.96 5,217,695.60

JOHN DEERE CAPITAL CORP
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 11,366.44 499,087.82 507,038.40 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 11 U.S. Bancorp Asset Management, Inc.
#13..
- 320 -
Managed Account Detail of Securities Held For the Month Ending June 30, 2025 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

JOHN DEERE CAPITAL CORP
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 20,551.44 900,288.79 916,766.40

JOHN DEERE CAPITAL CORP
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 26,751.31 1,163,945.95 1,193,332.80

PACCAR FINANCIAL CORP
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 21,907.88 1,125,568.35 1,157,691.78

TOYOTA MOTOR CREDIT CORP
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 44,916.67 2,796,748.95 2,888,547.20

CITIBANK NA (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 83,788.87 5,650,000.00 5,906,865.95

BANK OF AMERICA CORP (CALLABLE)
DTD 01/24/2025 4.979% 01/24/2029
06051GMK2 2,060,000.00 A- A1 04/01/25 04/02/25 2,082,824.80 4.66 44,730.78 2,080,937.15 2,088,537.18

STATE STREET CORP (CALLABLE)
DTD 08/20/2024 4.530% 02/20/2029
857477CN1 1,900,000.00 A Aa3 08/14/24 08/20/24 1,900,000.00 4.53 31,319.92 1,900,000.00 1,914,848.50

BLACKROCK FUNDING INC (CALLABLE)
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 5,098.85 364,497.40 372,690.19

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 1,295,000.00 A+ A1 04/03/24 04/05/24 1,296,709.40 4.77 15,022.00 1,296,316.91 1,327,772.57

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 1,580,000.00 A+ A1 04/01/24 04/04/24 1,577,645.80 4.83 18,328.00 1,578,179.88 1,619,985.06

BANK OF NEW YORK MELLON (CALLABLE)
DTD 04/22/2025 4.729% 04/20/2029
06405LAH4 2,700,000.00 AA- Aa2 05/06/25 05/07/25 2,727,216.00 4.45 24,472.58 2,725,909.75 2,737,651.50

PEPSICO INC (CALLABLE)
DTD 07/17/2024 4.500% 07/17/2029
713448FX1 1,935,000.00 A+ A1 07/15/24 07/17/24 1,932,000.75 4.53 39,667.50 1,932,530.23 1,964,814.48

ELI LILLY & CO (CALLABLE)
DTD 08/14/2024 4.200% 08/14/2029
532457CQ9 660,000.00 A+ Aa3 08/12/24 08/14/24 658,554.60 4.25 10,549.00 658,789.83 662,372.70

ELI LILLY & CO (CALLABLE)
DTD 08/14/2024 4.200% 08/14/2029
532457CQ9 2,290,000.00 A+ Aa3 08/13/24 08/14/24 2,293,343.40 4.17 36,601.83 2,292,807.20 2,298,232.55 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 12 U.S. Bancorp Asset Management, Inc.
#13..
- 321 -
Managed Account Detail of Securities Held For the Month Ending June 30, 2025 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

PEPSICO INC (CALLABLE)
DTD 02/07/2025 4.600% 02/07/2030
713448GB8 730,000.00 A+ A1 02/05/25 02/07/25 728,773.60 4.64 13,432.00 728,862.88 743,329.80

WALMART INC (CALLABLE)
DTD 04/28/2025 4.350% 04/28/2030
931142FN8 1,140,000.00 AA Aa2 04/23/25 04/28/25 1,138,027.80 4.39 8,678.25 1,138,090.86 1,152,622.08

WALMART INC (CALLABLE)
DTD 04/28/2025 4.350% 04/28/2030
931142FN8 3,500,000.00 AA Aa2 05/01/25 05/02/25 3,531,465.00 4.15 26,643.75 3,530,508.12 3,538,752.00 Security Type Sub-Total 71,875,000.00 71,505,140.05 4.28 803,510.39 71,779,196.64 72,423,084.16 Certificate of Deposit

COOPERAT RABOBANK UA/NY
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 80,997.78 3,500,000.00 3,548,636.00 Security Type Sub-Total 3,500,000.00 3,500,000.00 5.08 80,997.78 3,500,000.00 3,548,636.00 Bank Note

WELLS FARGO BANK NA (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 5.54 122,843.00 5,630,057.42 5,706,389.82

MORGAN STANLEY BANK NA (CALLABLE)
DTD 05/30/2024 5.504% 05/26/2028
61690U8B9 1,360,000.00 A+ Aa3 05/28/24 05/30/24 1,360,000.00 5.50 7,277.51 1,360,000.00 1,388,245.84

MORGAN STANLEY BANK NA (CALLABLE)
DTD 05/30/2024 5.504% 05/26/2028
61690U8B9 2,640,000.00 A+ Aa3 05/30/24 05/31/24 2,645,570.40 5.45 14,126.93 2,643,395.55 2,694,830.16 Security Type Sub-Total 9,635,000.00 9,627,215.45 5.51 144,247.44 9,633,452.97 9,789,465.82 Asset-Backed Security
CCCIT 2023-A1 A1
DTD 12/11/2023 5.230% 12/08/2027
17305EGW9 835,000.00 AAA Aaa 12/04/23 12/11/23 834,895.29 5.23 2,790.06 834,933.98 837,504.16 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 2,088.53 889,872.11 897,321.14 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
06428AAC2 1,140,343.68 NR Aaa 07/25/23 07/31/23 1,140,300.46 5.53 2,802.71 1,140,318.71 1,148,037.57 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 13 U.S. Bancorp Asset Management, Inc.
#13..
- 322 -
Managed Account Detail of Securities Held For the Month Ending June 30, 2025 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
HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 1,927,418.23 AAA NR 08/15/23 08/22/23 1,927,020.80 5.42 3,765.43 1,927,185.33 1,939,749.85 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
89231FAD2 672,098.85 AAA NR 08/08/23 08/15/23 671,946.82 5.17 1,541.35 672,007.92 675,714.07 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
90291VAC4 2,324,111.50 AAA Aaa 09/07/23 09/15/23 2,323,704.78 5.58 5,763.80 2,323,853.02 2,337,177.65 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 2,924,968.26 2,953,270.13 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 1,883.60 764,945.28 773,932.91 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 2,234,114.69 AAA Aaa 08/15/23 08/23/23 2,233,976.18 5.53 5,490.96 2,234,027.81 2,251,496.11 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 3,019,439.05 3,054,684.70 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 3,089,908.99 3,124,784.13 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 1,129,898.22 1,142,254.85 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 1,364,873.13 1,379,328.41 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 4.85 737.60 364,946.57 366,802.37 CHAIT 2024-A1 A
DTD 01/31/2024 4.600% 01/16/2029
161571HV9 3,390,000.00 AAA NR 01/24/24 01/31/24 3,389,483.70 4.60 6,930.67 3,389,623.99 3,414,519.87 KCOT 2025-1A A3
DTD 02/19/2025 4.670% 06/15/2029
50117FAC5 1,550,000.00 NR Aaa 02/11/25 02/19/25 1,549,946.84 4.67 3,217.11 1,549,955.29 1,570,278.65 HART 2025-A A3
DTD 03/12/2025 4.320% 10/15/2029
44935CAD3 2,525,000.00 AAA NR 03/04/25 03/12/25 2,524,627.56 4.32 4,848.00 2,524,654.60 2,534,468.75 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 14 U.S. Bancorp Asset Management, Inc.
#13..
- 323 -
Managed Account Detail of Securities Held For the Month Ending June 30, 2025 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
HART 2025-B A3
DTD 06/11/2025 4.360% 12/17/2029
44935XAD7 960,000.00 AAA NR 06/03/25 06/11/25 959,913.31 4.36 2,325.33 959,914.52 966,024.96 GMCAR 2025-2 A3
DTD 05/14/2025 4.280% 04/16/2030
362549AD9 680,000.00 AAA Aaa 05/06/25 05/14/25 679,899.90 4.28 1,212.67 679,902.95 683,572.72 BACCT 2025-A1 A
DTD 06/12/2025 4.310% 05/15/2030
05522RDK1 1,830,000.00 AAA NR 06/05/25 06/12/25 1,829,993.05 4.31 4,162.74 1,830,000.00 1,842,116.43 CCCIT 2025-A1 A
DTD 06/26/2025 4.300% 06/21/2030
17305EHA6 3,990,000.00 AAA Aaa 06/18/25 06/26/25 3,988,917.51 4.31 2,382.92 3,988,920.94 4,012,627.29 Security Type Sub-Total 37,608,086.95 37,602,885.41 5.00 79,317.39 37,604,150.67 37,905,666.72 Managed Account Sub-Total 447,776,578.12 441,397,230.04 4.10 3,024,896.93 445,566,704.90 448,234,166.06 $447,776,578.12 $441,397,230.04 4.10% $3,024,896.93 $445,566,704.90 $448,234,166.06 $451,259,062.99
$3,024,896.93
Total Investments
Accrued Interest
Securities Sub-Total
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 15 U.S. Bancorp Asset Management, Inc.
#13..
- 324 -
Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2025 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B 91282CHN4 10,805,000.00 WellsFar 100.03 10,808,014.60 8,923.58 3,509.53 DTD 07/31/2023 4.750% 07/31/2025

0.08 4.34
US TREASURY N/B 91282CFK2 11,115,000.00 Nomura 99.86 11,099,372.31 37,776.41 (4,460.60) DTD 09/15/2022 3.500% 09/15/2025

0.21 4.31
US TREASURY N/B 9128286F2 1,360,000.00 GoldmanS 98.90 1,345,018.24 (134,831.76) (30,874.20) DTD 02/28/2019 2.500% 02/28/2026

0.64 4.10
US TREASURY N/B 91282CBQ3 4,645,000.00 Nomura 97.60 4,533,636.13 273,663.08 (45,884.94) DTD 03/01/2021 0.500% 02/28/2026

0.65 4.12
US TREASURY N/B 91282CBQ3 6,000,000.00 WellsFar 97.60 5,856,150.00 17,868.75 (118,502.89) DTD 03/01/2021 0.500% 02/28/2026

0.65 4.12
US TREASURY N/B 91282CBT7 2,480,000.00 WellsFar 97.53 2,418,823.36 (60,207.89) (61,017.70) DTD 03/31/2021 0.750% 03/31/2026

0.73 4.16
US TREASURY N/B 91282CBT7 4,925,000.00 MorganSt 97.53 4,803,510.10 (93,209.63) (117,191.17) DTD 03/31/2021 0.750% 03/31/2026

0.73 4.16
US TREASURY N/B 91282CHB0 11,085,000.00 MorganSt 99.63 11,043,974.42 14,832.43 7,769.35 DTD 05/15/2023 3.625% 05/15/2026

0.84 4.06
US TREASURY N/B 91282CCF6 1,405,000.00 BOFAML 97.06 1,363,659.28 (33,327.83) (39,854.71) DTD 06/01/2021 0.750% 05/31/2026

0.89 4.18
US TREASURY N/B 91282CCF6 4,615,000.00 Nomura 97.06 4,479,208.24 225,656.48 (56,106.14) DTD 06/01/2021 0.750% 05/31/2026

0.89 4.18
US TREASURY N/B 91282CCF6 4,800,000.00 Citigrou 97.06 4,658,764.80 259,639.80 (49,086.37) DTD 06/01/2021 0.750% 05/31/2026

0.89 4.18
US TREASURY N/B 91282CCW9 4,640,000.00 RBC Capi 96.38 4,471,980.96 213,874.71 (66,782.74) DTD 08/31/2021 0.750% 08/31/2026

1.14 3.95
US TREASURY N/B 91282CCZ2 4,310,000.00 RBC Capi 96.32 4,151,573.02 183,174.19 (63,271.13) DTD 09/30/2021 0.875% 09/30/2026

1.22 3.92
US TREASURY N/B 912828U24 4,545,000.00 RBC Capi 97.50 4,431,552.26 75,631.36 (54,892.71) DTD 11/15/2016 2.000% 11/15/2026

1.33 3.90
US TREASURY N/B 912828V98 9,220,000.00 JPMorgan 97.55 8,994,543.34 12,966.78 (141,357.18) DTD 02/15/2017 2.250% 02/15/2027

1.56 3.83
US TREASURY N/B 912828ZN3 6,480,000.00 Nomura 94.28 6,109,428.24 317,928.24 (104,569.45) DTD 04/30/2020 0.500% 04/30/2027

1.78 3.77
US TREASURY N/B 912828ZV5 5,545,000.00 WellsFar 93.84 5,203,200.66 282,446.36 (86,855.30) DTD 06/30/2020 0.500% 06/30/2027

1.95 3.74
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 16 U.S. Bancorp Asset Management, Inc.
#13..
- 325 -
Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2025 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B 9128282R0 1,200,000.00 BNPPSA 96.99 1,163,859.60 21,234.60 (11,573.76) DTD 08/15/2017 2.250% 08/15/2027

2.03 3.75
US TREASURY N/B 9128282R0 2,985,000.00 HSBC 96.99 2,895,100.76 65,064.24 (23,326.79) DTD 08/15/2017 2.250% 08/15/2027

2.03 3.75
US TREASURY N/B 91282CFM8 2,370,000.00 BOFAML 100.90 2,391,292.08 36,752.63 28,375.29 DTD 09/30/2022 4.125% 09/30/2027

2.11 3.73
US TREASURY N/B 91282CFU0 2,715,000.00 Nomura 100.90 2,739,497.45 (13,258.02) 6,506.59 DTD 10/31/2022 4.125% 10/31/2027

2.19 3.74
US TREASURY N/B 91282CFU0 3,160,000.00 JPMorgan 100.90 3,188,512.68 (40,982.63) (4,714.03) DTD 10/31/2022 4.125% 10/31/2027

2.19 3.74
US TREASURY N/B 91282CAU5 8,775,000.00 WellsFar 92.86 8,148,754.58 675,950.87 4,494.34 DTD 11/02/2020 0.500% 10/31/2027

2.27 3.74
US TREASURY N/B 91282CGC9 4,250,000.00 Nomura 100.42 4,267,765.00 831.41 8,507.30 DTD 01/03/2023 3.875% 12/31/2027

2.36 3.72
US TREASURY N/B 91282CBJ9 1,340,000.00 HSBC 92.76 1,243,006.78 79,823.97 (5,582.80) DTD 02/01/2021 0.750% 01/31/2028

2.50 3.73
US TREASURY N/B 91282CGH8 2,220,000.00 BNPPSA 99.48 2,208,467.10 (9,798.53) (10,580.46) DTD 01/31/2023 3.500% 01/31/2028

2.41 3.74
US TREASURY N/B 91282CGP0 1,245,000.00 TD Secur 100.75 1,254,288.95 23,100.67 16,672.91 DTD 02/28/2023 4.000% 02/29/2028

2.47 3.73
US TREASURY N/B 91282CBS9 2,555,000.00 BNPPSA 93.62 2,392,019.11 92,618.91 (19,456.17) DTD 03/31/2021 1.250% 03/31/2028

2.65 3.73
US TREASURY N/B 91282CGT2 2,675,000.00 RBS 99.81 2,669,984.38 (2,194.33) (3,437.58) DTD 03/31/2023 3.625% 03/31/2028

2.57 3.72
US TREASURY N/B 91282CHA2 2,810,000.00 Barclays 99.45 2,794,412.93 (2,524.96) (8,190.45) DTD 05/01/2023 3.500% 04/30/2028

2.65 3.73
US TREASURY N/B 91282CHA2 6,530,000.00 GoldmanS 99.45 6,493,778.09 (66,066.05) (53,149.41) DTD 05/01/2023 3.500% 04/30/2028

2.65 3.73
US TREASURY N/B 91282CKG5 3,450,000.00 BMO 101.34 3,496,223.10 84,361.77 75,725.34 DTD 04/01/2024 4.125% 03/31/2029

3.41 3.77
US TREASURY N/B 91282CKP5 4,430,000.00 JPMorgan 103.11 4,567,919.19 (3,806.20) 16,694.86 DTD 04/30/2024 4.625% 04/30/2029

3.47 3.78
US TREASURY N/B 91282CKP5 5,190,000.00 GoldmanS 103.11 5,351,580.27 149,618.94 152,159.53 DTD 04/30/2024 4.625% 04/30/2029

3.47 3.78
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 17 U.S. Bancorp Asset Management, Inc.
#13..
- 326 -
Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2025 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B 91282CKT7 1,430,000.00 JPMorgan 102.71 1,468,821.64 25,862.26 28,407.85 DTD 05/31/2024 4.500% 05/31/2029

3.56 3.78
US TREASURY N/B 91282CKT7 4,190,000.00 JPMorgan 102.71 4,303,750.12 79,051.68 85,878.57 DTD 05/31/2024 4.500% 05/31/2029

3.56 3.78
US TREASURY N/B 91282CKX8 2,920,000.00 Citigrou 101.84 2,973,722.16 76,762.78 72,552.29 DTD 07/01/2024 4.250% 06/30/2029

3.65 3.78
US TREASURY N/B 91282CLC3 2,105,000.00 Citigrou 100.92 2,124,405.99 4,769.66 7,235.02 DTD 07/31/2024 4.000% 07/31/2029

3.68 3.79
US TREASURY N/B 91282CLK5 7,550,000.00 Citigrou 99.49 7,511,366.65 (54,264.21) (51,902.99) DTD 09/03/2024 3.625% 08/31/2029

3.79 3.79
US TREASURY N/B 91282CLN9 8,695,000.00 TD Secur 98.97 8,605,337.16 (64,868.50) (68,314.65) DTD 09/30/2024 3.500% 09/30/2029

3.88 3.79
US TREASURY N/B 91282CLR0 4,850,000.00 HSBC 101.41 4,918,583.85 80,519.40 79,069.55 DTD 10/31/2024 4.125% 10/31/2029

3.92 3.80
US TREASURY N/B 91282CMA6 6,315,000.00 WellsFar 101.45 6,406,516.98 80,169.71 81,331.41 DTD 12/02/2024 4.125% 11/30/2029

4.00 3.80
US TREASURY N/B 91282CMD0 12,365,000.00 BNP Sec 102.46 12,669,290.29 331,821.74 329,403.64 DTD 12/31/2024 4.375% 12/31/2029

4.06 3.81
US TREASURY N/B 91282CMG3 3,470,000.00 BNP Sec 101.96 3,537,907.90 80,784.86 79,832.98 DTD 01/31/2025 4.250% 01/31/2030

4.07 3.81
US TREASURY N/B 91282CMG3 5,215,000.00 HSBC 101.96 5,317,057.55 42,777.67 43,607.73 DTD 01/31/2025 4.250% 01/31/2030

4.07 3.81
US TREASURY N/B 91282CGQ8 8,565,000.00 Nomura 100.96 8,646,967.05 66,242.25 67,143.08 DTD 02/28/2023 4.000% 02/28/2030

4.17 3.81
US TREASURY N/B 91282CMU2 10,775,000.00 BNP Sec 100.91 10,873,074.05 44,199.05 46,587.65 DTD 03/31/2025 4.000% 03/31/2030

4.25 3.82
US TREASURY N/B 91282CHF1 5,400,000.00 RBS 99.77 5,387,342.40 48,303.34 47,487.56 DTD 05/31/2023 3.750% 05/31/2030

4.44 3.84
Security Type Sub-Total 239,720,000.00 237,783,015.80 3,535,664.04 (11,983.95) 2.42 3.90 Municipal Bond / Note
FLORIDA ST BRD OF ADM 341271AD6 505,000.00 BOFAML 100.00 505,000.00 (3,570.35) 0.00 DTD 09/16/2020 1.258% 07/01/2025

0.01 2.36
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 18 U.S. Bancorp Asset Management, Inc.
#13..
- 327 -
Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2025 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Municipal Bond / Note
FLORIDA ST BRD OF ADM 341271AD6 1,295,000.00 BOFAML 100.00 1,295,000.00 0.00 0.00 DTD 09/16/2020 1.258% 07/01/2025

0.01 2.36
Security Type Sub-Total 1,800,000.00 1,800,000.00 (3,570.35) 0.00 0.01 2.36 Federal Agency Commercial Mortgage-Backed Security
FHMS K061 A2 3137BTUM1 2,383,107.68 Citigrou 98.82 2,354,944.11 45,191.47 1,155.18 DTD 01/01/2017 3.347% 11/01/2026

1.26 4.16
FHMS K064 A2 3137BXQY1 4,000,000.00 MorganSt 98.48 3,939,100.00 165,975.00 48,251.89 DTD 05/01/2017 3.224% 03/01/2027

1.51 4.13
FHMS K065 A2 3137F1G44 2,275,000.00 Citigrou 98.41 2,238,852.53 93,865.23 27,928.12 DTD 07/01/2017 3.243% 04/01/2027

1.65 4.07
FHMS K066 A2 3137F2LJ3 3,530,000.00 CantorFi 98.22 3,467,141.29 166,039.73 55,314.46 DTD 08/01/2017 3.117% 06/01/2027

1.74 3.99
FHMS K507 A1 3137HAMR4 3,430,461.12 BOFAML 101.43 3,479,376.07 102,749.18 84,194.30 DTD 09/01/2023 4.800% 04/01/2028

2.27 4.10
FHMS K506 A1 3137HAMG8 1,865,616.73 WellsFar 101.25 1,888,916.42 51,200.00 41,328.60 DTD 09/01/2023 4.650% 05/01/2028

2.40 4.07
FHMS KJ46 A1 3137HAD45 2,771,061.07 JPMorgan 100.80 2,793,340.40 22,348.60 22,321.41 DTD 07/01/2023 4.777% 06/01/2028

1.85 4.23
FHMS K505 A2 3137HACX2 3,500,000.00 JPMorgan 101.79 3,562,664.00 27,706.00 41,511.95 DTD 07/01/2023 4.819% 06/01/2028

2.64 4.10
FNA 2023-M6 A2 3136BQDE6 3,342,975.36 JPMorgan 100.00 3,343,055.59 56,754.11 34,956.46 DTD 07/01/2023 4.190% 07/01/2028

2.78 4.15
FHMS KJ47 A1 3137HAMN3 1,995,269.20 JPMorgan 102.05 2,036,208.14 40,948.92 40,944.75 DTD 09/01/2023 5.272% 08/01/2028

2.15 4.23
FHMS K506 A2 3137HAMH6 3,800,000.00 WellsFar 101.44 3,854,674.40 110,887.80 92,115.03 DTD 09/01/2023 4.650% 08/01/2028

2.79 4.10
FHMS K508 A2 3137HAQ74 3,850,000.00 BMO 101.71 3,915,646.35 150,099.95 123,004.41 DTD 10/01/2023 4.740% 08/01/2028

2.81 4.10
FHMS K509 A2 3137HAST4 2,890,000.00 MorganSt 102.04 2,948,903.98 151,045.85 123,553.48 DTD 10/01/2023 4.850% 09/01/2028

2.89 4.07
FHMS K507 A2 3137HAMS2 3,800,000.00 BOFAML 101.90 3,872,010.00 117,431.40 103,236.14 DTD 09/01/2023 4.800% 09/01/2028

2.85 4.10
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 19 U.S. Bancorp Asset Management, Inc.
#13..
- 328 -
Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2025 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 K510 A2 3137HB3D4 1,465,000.00 JPMorgan 102.67 1,504,153.59 43,388.90 42,123.47 DTD 11/01/2023 5.069% 10/01/2028

2.92 4.13
FHMS K511 A2 3137HB3G7 2,125,000.00 BOFAML 102.17 2,171,108.25 52,213.37 50,418.00 DTD 12/01/2023 4.860% 10/01/2028

2.96 4.10
FHMS K512 A2 3137HBCF9 1,935,000.00 JPMorgan 102.54 1,984,189.64 31,120.61 36,253.31 DTD 12/01/2023 5.000% 11/01/2028

2.97 4.12
FHMS K513 A2 3137HBFY5 2,190,000.00 BMO 101.77 2,228,736.72 16,860.81 22,778.88 DTD 01/01/2024 4.724% 12/01/2028

3.09 4.11
FHMS K514 A2 3137HBLV4 2,220,000.00 JPMorgan 101.28 2,248,473.72 6,275.94 12,131.63 DTD 02/01/2024 4.572% 12/01/2028

3.05 4.12
FHMS K518 A2 3137HC2L5 2,715,000.00 JPMorgan 103.89 2,820,730.25 40,176.57 54,993.64 DTD 03/01/2024 5.400% 01/01/2029

3.17 4.16
FHMS K517 A2 3137HC2C5 3,355,000.00 BOFAML 103.70 3,479,067.90 23,464.87 48,004.34 DTD 03/01/2024 5.355% 01/01/2029

3.19 4.11
FHMS K515 A2 3137HBPD0 3,750,000.00 WellsFar 103.83 3,893,613.75 42,588.75 68,020.14 DTD 02/01/2024 5.400% 01/01/2029

3.09 4.15
FHMS K516 A2 3137HBPM0 3,750,000.00 MorganSt 104.12 3,904,541.25 42,052.50 69,731.32 DTD 03/01/2024 5.477% 01/01/2029

3.13 4.15
FHMS K520 A2 3137HCKV3 2,125,000.00 BOFAML 103.33 2,195,696.62 62,071.24 63,824.79 DTD 04/01/2024 5.180% 03/01/2029

3.30 4.16
FHMS K524 A2 3137HDV56 3,245,000.00 PIER 101.93 3,307,651.22 42,723.68 45,959.81 DTD 07/01/2024 4.720% 05/01/2029

3.47 4.15
FHMS K522 A2 3137HDJJ0 3,850,000.00 MorganSt 102.17 3,933,494.95 83,506.50 83,494.95 DTD 06/01/2024 4.803% 05/01/2029

3.37 4.15
FHMS K526 A2 3137HDXL9 3,500,000.00 BMO 101.31 3,545,853.50 13,114.50 18,404.60 DTD 08/01/2024 4.543% 07/01/2029

3.62 4.16
FHMS K530 A2 3137HHJL6 3,980,000.00 JPMorgan 102.32 4,072,152.92 71,429.06 73,437.63 DTD 11/01/2024 4.792% 09/01/2029

3.75 4.17
Security Type Sub-Total 83,638,491.17 84,984,297.56 1,873,230.54 1,529,392.69 2.77 4.13 Corporate Note
BRISTOL-MYERS SQUIBB CO (CALLABLE) 110122DN5 2,230,000.00 BOFAML 10/13/25 98.67 2,200,345.46 (10,543.44) (28,055.89) DTD 11/13/2020 0.750% 11/13/2025

0.36 4.46
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 20 U.S. Bancorp Asset Management, Inc.
#13..
- 329 -
Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2025 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
BANK OF NY MELLON CORP (CALLABLE) 06406RAQ0 3,465,000.00 US_BANC 12/28/25 97.92 3,393,080.46 (72,751.14) (72,015.49) DTD 01/28/2021 0.750% 01/28/2026

0.56 4.32
MICROSOFT CORP (CALLABLE) 594918BR4 3,000,000.00 TD Secur 05/08/26 98.29 2,948,772.00 (84,378.00) (59,437.95) DTD 08/08/2016 2.400% 08/08/2026

1.04 4.05
BANK OF AMERICA NA (CALLABLE) 06428CAA2 3,750,000.00 BOFAML 07/17/26 101.42 3,803,107.50 53,407.50 53,220.56 DTD 08/18/2023 5.526% 08/18/2026

0.99 4.28
MASTERCARD INC (CALLABLE) 57636QAG9 2,560,000.00 CSFirstB 08/21/26 98.57 2,523,351.04 89,251.84 8,028.40 DTD 11/21/2016 2.950% 11/21/2026

1.27 4.04
JP MORGAN CHASE BANK NA (CALLABLE) 48125LRU8 850,000.00 Citigrou 11/08/26 101.26 860,713.40 11,486.90 11,166.48 DTD 12/08/2023 5.110% 12/08/2026

1.31 4.25
JP MORGAN CHASE BANK NA (CALLABLE) 48125LRU8 3,500,000.00 JPMorgan 11/08/26 101.26 3,544,114.00 44,114.00 44,114.00 DTD 12/08/2023 5.110% 12/08/2026

1.31 4.25
TARGET CORP (CALLABLE) 87612EBM7 365,000.00 Citigrou 12/15/26 96.86 353,524.77 (10,854.73) (11,283.29) DTD 01/24/2022 1.950% 01/15/2027

1.47 4.10
MICROSOFT CORP (CALLABLE) 594918BY9 3,000,000.00 GoldmanS 11/06/26 98.97 2,969,181.00 55,011.00 2,303.32 DTD 02/06/2017 3.300% 02/06/2027

1.42 4.00
GOLDMAN SACHS BANK USA (CALLABLE) 38151LAG5 3,000,000.00 GoldmanS 05/21/26 100.82 3,024,612.00 5,742.00 7,766.21 DTD 05/21/2024 5.414% 05/21/2027

0.86 4.86
HOME DEPOT INC (CALLABLE) 437076BT8 3,610,000.00 TD Secur 06/14/27 97.41 3,516,584.03 110,910.03 3,958.14 DTD 09/14/2017 2.800% 09/14/2027

2.04 4.06
JPMORGAN CHASE & CO (CALLABLE) 46647PCW4 1,535,000.00 BOFAML 02/24/27 97.70 1,499,764.08 96,206.13 43,250.47 DTD 02/24/2022 2.947% 02/24/2028

1.57 4.84
KENVUE INC (CALLABLE) 49177JAF9 2,300,000.00 JPMorgan 02/22/28 102.40 2,355,089.60 786.60 838.94 DTD 10/17/2023 5.050% 03/22/2028

2.45 4.16
WALMART INC (CALLABLE) 931142FB4 1,220,000.00 Barclays 03/15/28 100.11 1,221,298.08 4,018.68 2,843.91 DTD 04/18/2023 3.900% 04/15/2028

2.56 3.89
APPLE INC (CALLABLE) 037833ET3 5,200,000.00 HSBC 04/10/28 100.34 5,217,695.60 1,315.60 8,408.64 DTD 05/10/2023 4.000% 05/10/2028

2.62 3.90
JOHN DEERE CAPITAL CORP 24422EXB0 495,000.00 SBSC 102.43 507,038.40 5,306.40 7,950.58 DTD 07/14/2023 4.950% 07/14/2028

2.74 4.13
JOHN DEERE CAPITAL CORP 24422EXB0 895,000.00 TD Secur 102.43 916,766.40 13,075.95 16,477.61 DTD 07/14/2023 4.950% 07/14/2028

2.74 4.13
JOHN DEERE CAPITAL CORP 24422EXB0 1,165,000.00 Citigrou 102.43 1,193,332.80 30,068.65 29,386.85 DTD 07/14/2023 4.950% 07/14/2028

2.74 4.13
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 21 U.S. Bancorp Asset Management, Inc.
#13..
- 330 -
Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2025 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
PACCAR FINANCIAL CORP 69371RS64 1,130,000.00 TD Secur 102.45 1,157,691.78 34,776.88 32,123.43 DTD 08/10/2023 4.950% 08/10/2028

2.81 4.15
TOYOTA MOTOR CREDIT CORP 89236TLB9 2,800,000.00 BOFAML 103.16 2,888,547.20 93,419.20 91,798.25 DTD 09/11/2023 5.250% 09/11/2028

2.88 4.21
CITIBANK NA (CALLABLE) 17325FBB3 5,650,000.00 Citigrou 08/29/28 104.55 5,906,865.95 256,865.95 256,865.95 DTD 09/29/2023 5.803% 09/29/2028

2.86 4.32
BANK OF AMERICA CORP (CALLABLE) 06051GMK2 2,060,000.00 Citigrou 01/24/28 101.39 2,088,537.18 5,712.38 7,600.03 DTD 01/24/2025 4.979% 01/24/2029

2.34 4.64
STATE STREET CORP (CALLABLE) 857477CN1 1,900,000.00 HSBC 02/20/28 100.78 1,914,848.50 14,848.50 14,848.50 DTD 08/20/2024 4.530% 02/20/2029

2.42 4.56
BLACKROCK FUNDING INC (CALLABLE) 09290DAA9 365,000.00 Citigrou 02/14/29 102.11 372,690.19 8,350.84 8,192.79 DTD 03/14/2024 4.700% 03/14/2029

3.29 4.12
ADOBE INC (CALLABLE) 00724PAF6 1,295,000.00 TD Secur 03/04/29 102.53 1,327,772.57 31,063.17 31,455.66 DTD 04/04/2024 4.800% 04/04/2029

3.34 4.10
ADOBE INC (CALLABLE) 00724PAF6 1,580,000.00 BOFAML 03/04/29 102.53 1,619,985.06 42,339.26 41,805.18 DTD 04/04/2024 4.800% 04/04/2029

3.34 4.10
BANK OF NEW YORK MELLON (CALLABLE) 06405LAH4 2,700,000.00 JPMorgan 04/20/28 101.39 2,737,651.50 10,435.50 11,741.75 DTD 04/22/2025 4.729% 04/20/2029

2.58 4.56
PEPSICO INC (CALLABLE) 713448FX1 1,935,000.00 Citigrou 06/17/29 101.54 1,964,814.48 32,813.73 32,284.25 DTD 07/17/2024 4.500% 07/17/2029

3.56 4.15
ELI LILLY & CO (CALLABLE) 532457CQ9 660,000.00 MorganSt 07/14/29 100.36 662,372.70 3,818.10 3,582.87 DTD 08/14/2024 4.200% 08/14/2029

3.66 4.16
ELI LILLY & CO (CALLABLE) 532457CQ9 2,290,000.00 JPMorgan 07/14/29 100.36 2,298,232.55 4,889.15 5,425.35 DTD 08/14/2024 4.200% 08/14/2029

3.66 4.16
PEPSICO INC (CALLABLE) 713448GB8 730,000.00 MorganSt 01/07/30 101.83 743,329.80 14,556.20 14,466.92 DTD 02/07/2025 4.600% 02/07/2030

4.02 4.20
WALMART INC (CALLABLE) 931142FN8 1,140,000.00 BOFAML 03/28/30 101.11 1,152,622.08 14,594.28 14,531.22 DTD 04/28/2025 4.350% 04/28/2030

4.26 4.13
WALMART INC (CALLABLE) 931142FN8 3,500,000.00 KEYB 03/28/30 101.11 3,538,752.00 7,287.00 8,243.88 DTD 04/28/2025 4.350% 04/28/2030

4.26 4.13
Security Type Sub-Total 71,875,000.00 72,423,084.16 917,944.11 643,887.52 2.24 4.24 Certificate of Deposit
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 22 U.S. Bancorp Asset Management, Inc.
#13..
- 331 -
Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2025 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 21684LGS5 3,500,000.00 RABO UA 101.39 3,548,636.00 48,636.00 48,636.00 DTD 07/20/2023 5.080% 07/17/2026

0.99 3.82
Security Type Sub-Total 3,500,000.00 3,548,636.00 48,636.00 48,636.00 0.99 3.82 Bank Note
WELLS FARGO BANK NA (CALLABLE) 94988J6D4 5,635,000.00 WellsFar 07/07/26 101.27 5,706,389.82 84,744.77 76,332.40 DTD 08/09/2023 5.450% 08/07/2026

0.97 4.29
MORGAN STANLEY BANK NA (CALLABLE) 61690U8B9 1,360,000.00 MorganSt 05/26/27 102.08 1,388,245.84 28,245.84 28,245.84 DTD 05/30/2024 5.504% 05/26/2028

1.79 4.68
MORGAN STANLEY BANK NA (CALLABLE) 61690U8B9 2,640,000.00 MorganSt 05/26/27 102.08 2,694,830.16 49,259.76 51,434.61 DTD 05/30/2024 5.504% 05/26/2028

1.79 4.68
Security Type Sub-Total 9,635,000.00 9,789,465.82 162,250.37 156,012.85 1.31 4.45 Asset-Backed Security
CCCIT 2023-A1 A1 17305EGW9 835,000.00 Citigrou 100.30 837,504.16 2,608.87 2,570.18 DTD 12/11/2023 5.230% 12/08/2027

0.43 4.51
KCOT 2023-2A A3 500945AC4 890,000.00 JPMorgan 100.82 897,321.14 7,545.95 7,449.03 DTD 07/26/2023 5.280% 01/18/2028

0.87 4.40
BAAT 2023-1A A3 06428AAC2 1,140,343.68 BOFAML 100.67 1,148,037.57 7,737.11 7,718.86 DTD 07/31/2023 5.530% 02/15/2028

0.68 4.60
HAROT 2023-3 A3 43815QAC1 1,927,418.23 BOFAML 100.64 1,939,749.85 12,729.05 12,564.52 DTD 08/22/2023 5.410% 02/18/2028

0.69 4.53
TAOT 2023-C A3 89231FAD2 672,098.85 BNPPSA 100.54 675,714.07 3,767.25 3,706.15 DTD 08/15/2023 5.160% 04/17/2028

0.74 4.48
USAOT 2023-A A3 90291VAC4 2,324,111.50 JPMorgan 100.56 2,337,177.65 13,472.87 13,324.63 DTD 09/15/2023 5.580% 05/15/2028

0.60 4.70
BAAT 2023-2A A3 06054YAC1 2,925,000.00 BOFAML 100.97 2,953,270.13 28,323.07 28,301.87 DTD 11/21/2023 5.740% 06/15/2028

0.75 4.51
TAOT 2023-D A3 89239FAD4 765,000.00 JPMorgan 101.17 773,932.91 9,015.38 8,987.63 DTD 11/14/2023 5.540% 08/15/2028

0.96 4.33
FITAT 2023-1 A3 31680EAD3 2,234,114.69 JPMorgan 100.78 2,251,496.11 17,519.93 17,468.30 DTD 08/23/2023 5.530% 08/15/2028

0.77 4.58
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 23 U.S. Bancorp Asset Management, Inc.
#13..
- 332 -
Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2025 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
CHAIT 2023-A1 A 161571HT4 3,020,000.00 JPMorgan 101.15 3,054,684.70 35,521.84 35,245.65 DTD 09/15/2023 5.160% 09/15/2028

1.15 4.23
AMXCA 2023-3 A 02582JKD1 3,090,000.00 Citigrou 101.13 3,124,784.13 34,922.25 34,875.14 DTD 09/19/2023 5.230% 09/15/2028

1.15 4.32
HART 2023-C A3 44918CAD4 1,130,000.00 BNPPSA 101.08 1,142,254.85 12,403.44 12,356.63 DTD 11/13/2023 5.540% 10/16/2028

0.89 4.34
BACCT 2023-A2 A2 05522RDH8 1,365,000.00 BOFAML 101.05 1,379,328.41 14,511.73 14,455.28 DTD 12/14/2023 4.980% 11/15/2028

1.30 4.25
GMCAR 2024-1 A3 36268GAD7 365,000.00 Barclays 100.49 366,802.37 1,875.77 1,855.80 DTD 01/17/2024 4.850% 12/18/2028

0.89 4.35
CHAIT 2024-A1 A 161571HV9 3,390,000.00 JPMorgan 100.72 3,414,519.87 25,036.17 24,895.88 DTD 01/31/2024 4.600% 01/16/2029

1.46 4.16
KCOT 2025-1A A3 50117FAC5 1,550,000.00 JPMorgan 101.31 1,570,278.65 20,331.81 20,323.36 DTD 02/19/2025 4.670% 06/15/2029

2.36 4.19
HART 2025-A A3 44935CAD3 2,525,000.00 Barclays 100.38 2,534,468.75 9,841.19 9,814.15 DTD 03/12/2025 4.320% 10/15/2029

1.90 4.20
HART 2025-B A3 44935XAD7 960,000.00 JPMorgan 100.63 966,024.96 6,111.65 6,110.44 DTD 06/11/2025 4.360% 12/17/2029

2.08 4.12
GMCAR 2025-2 A3 362549AD9 680,000.00 TD Secur 100.53 683,572.72 3,672.82 3,669.77 DTD 05/14/2025 4.280% 04/16/2030

2.14 4.09
BACCT 2025-A1 A 05522RDK1 1,830,000.00 BOFAML 100.66 1,842,116.43 12,123.38 12,116.43 DTD 06/12/2025 4.310% 05/15/2030

2.65 4.12
CCCIT 2025-A1 A 17305EHA6 3,990,000.00 Citigrou 100.57 4,012,627.29 23,709.78 23,706.35 DTD 06/26/2025 4.300% 06/21/2030

2.77 4.12
Security Type Sub-Total 37,608,086.95 37,905,666.72 302,781.31 301,516.05 1.40 4.33 Managed Account Sub-Total 447,776,578.12 448,234,166.06 6,836,936.02 2,667,461.16 2.33 4.04 Total Investments $451,259,062.99
$3,024,896.93
$448,234,166.06
Accrued Interest
Securities Sub-Total $447,776,578.12 $6,836,936.02 $2,667,461.16 2.33 4.04% PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 24 U.S. Bancorp Asset Management, Inc.
#13..
- 333 -
Managed Account Security Transactions & Interest For the Month Ending June 30, 2025 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
06/11/25 HART 2025-B A3
DTD 06/11/2025 4.360% 12/17/2029
06/03/25 44935XAD7 960,000.00 (959,913.31) 0.00 (959,913.31) 06/05/25 US TREASURY N/B
DTD 05/31/2023 3.750% 05/31/2030
06/04/25 91282CHF1 5,400,000.00 (5,339,039.06) (2,766.39) (5,341,805.45) 06/05/25 US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
06/04/25 91282CMG3 5,215,000.00 (5,274,279.88) (76,532.29) (5,350,812.17) 06/12/25 BACCT 2025-A1 A
DTD 06/12/2025 4.310% 05/15/2030
06/05/25 05522RDK1 1,830,000.00 (1,829,993.05) 0.00 (1,829,993.05) 06/26/25 CCCIT 2025-A1 A
DTD 06/26/2025 4.300% 06/21/2030
06/18/25 17305EHA6 3,990,000.00 (3,988,917.51) 0.00 (3,988,917.51) 06/30/25 KENVUE INC (CALLABLE)
DTD 10/17/2023 5.050% 03/22/2028
06/27/25 49177JAF9 2,300,000.00 (2,354,303.00) (31,618.61) (2,385,921.61) Transaction Type Sub-Total 19,695,000.00 (19,746,445.81) (110,917.29) (19,857,363.10)

INTEREST
06/25/25 FHMS K515 A2
DTD 02/01/2024 5.400% 01/01/2029
06/01/25 3137HBPD0 0.00 16,875.00 16,875.00
06/25/25 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
06/01/25 3137HBLV4 0.00 8,458.20 8,458.20
06/25/25 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
06/01/25 3137HAQ74 0.00 15,207.50 15,207.50
06/25/25 FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
06/01/25 3137HDJJ0 0.00 15,409.63 15,409.63
06/25/25 FHMS K517 A2
DTD 03/01/2024 5.355% 01/01/2029
06/01/25 3137HC2C5 0.00 14,971.69 14,971.69
06/25/25 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
06/01/25 3137HAMG8 0.00 7,237.34 7,237.34
06/25/25 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
06/01/25 3137BXQY1 0.00 10,746.67 10,746.67
06/25/25 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
06/01/25 3137HACX2 0.00 14,055.42 14,055.42
06/25/25 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
06/01/25 3137HAST4 0.00 11,680.42 11,680.42
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 25 U.S. Bancorp Asset Management, Inc.
#13..
- 334 -
Managed Account Security Transactions & Interest For the Month Ending June 30, 2025 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
06/25/25 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
06/01/25 3137HAD45 0.00 11,040.61 11,040.61
06/25/25 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
06/01/25 3137HAMH6 0.00 14,725.00 14,725.00
06/25/25 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
06/01/25 3137HBCF9 0.00 8,062.50 8,062.50
06/25/25 FHMS K513 A2
DTD 01/01/2024 4.724% 12/01/2028
06/01/25 3137HBFY5 0.00 8,621.30 8,621.30
06/25/25 FHMS K520 A2
DTD 04/01/2024 5.180% 03/01/2029
06/01/25 3137HCKV3 0.00 9,172.92 9,172.92
06/25/25 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
06/01/25 3137HB3G7 0.00 8,606.25 8,606.25
06/25/25 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
06/01/25 3137HAMS2 0.00 15,200.00 15,200.00
06/25/25 FHMS K518 A2
DTD 03/01/2024 5.400% 01/01/2029
06/01/25 3137HC2L5 0.00 12,217.50 12,217.50
06/25/25 FHMS K516 A2
DTD 03/01/2024 5.477% 01/01/2029
06/01/25 3137HBPM0 0.00 17,115.63 17,115.63
06/25/25 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
06/01/25 3136BQDE6 0.00 11,673.27 11,673.27
06/25/25 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
06/01/25 3137HDV56 0.00 12,763.67 12,763.67
06/25/25 FHMS K530 A2
DTD 11/01/2024 4.792% 09/01/2029
06/01/25 3137HHJL6 0.00 15,893.47 15,893.47
06/25/25 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
06/01/25 3137HDXL9 0.00 13,250.42 13,250.42
06/25/25 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
06/01/25 3137HB3D4 0.00 6,188.40 6,188.40
06/25/25 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
06/01/25 3137F1G44 0.00 6,148.19 6,148.19
06/25/25 FHMS K066 A2
DTD 08/01/2017 3.117% 06/01/2027
06/01/25 3137F2LJ3 0.00 9,169.18 9,169.18
06/25/25 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
06/01/25 3137BTUM1 0.00 6,660.46 6,660.46
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 26 U.S. Bancorp Asset Management, Inc.
#13..
- 335 -
Managed Account Security Transactions & Interest For the Month Ending June 30, 2025 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
06/25/25 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
06/01/25 3137HAMN3 0.00 8,786.03 8,786.03
06/25/25 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
06/01/25 3137HAMR4 0.00 13,789.80 13,789.80
06/02/25 MONEY MARKET FUND
DTD 01/01/2010 0.000% --
06/02/25 MONEY0002 0.00 1,932.83 1,932.83
06/08/25 CCCIT 2023-A1 A1
DTD 12/11/2023 5.230% 12/08/2027
06/08/25 17305EGW9 0.00 21,835.25 21,835.25
06/08/25 JP MORGAN CHASE BANK NA
(CALLABLE)
DTD 12/08/2023 5.110% 12/08/2026
06/08/25 48125LRU8 0.00 111,142.50 111,142.50
06/15/25 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
06/15/25 05522RDH8 0.00 5,664.75 5,664.75
06/15/25 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
06/15/25 31680EAD3 0.00 10,965.46 10,965.46
06/15/25 CHAIT 2024-A1 A
DTD 01/31/2024 4.600% 01/16/2029
06/15/25 161571HV9 0.00 12,995.00 12,995.00
06/15/25 KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
06/15/25 500945AC4 0.00 3,916.00 3,916.00
06/15/25 HART 2023-C A3
DTD 11/13/2023 5.540% 10/16/2028
06/15/25 44918CAD4 0.00 5,216.83 5,216.83
06/15/25 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
06/15/25 89231FAD2 0.00 2,967.00 2,967.00
06/15/25 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
06/15/25 02582JKD1 0.00 13,467.25 13,467.25
06/15/25 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
06/15/25 06428AAC2 0.00 5,654.15 5,654.15
06/15/25 KCOT 2025-1A A3
DTD 02/19/2025 4.670% 06/15/2029
06/15/25 50117FAC5 0.00 6,032.08 6,032.08
06/15/25 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
06/15/25 90291VAC4 0.00 11,719.32 11,719.32
06/15/25 HART 2025-A A3
DTD 03/12/2025 4.320% 10/15/2029
06/15/25 44935CAD3 0.00 9,090.00 9,090.00
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 27 U.S. Bancorp Asset Management, Inc.
#13..
- 336 -
Managed Account Security Transactions & Interest For the Month Ending June 30, 2025 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
06/15/25 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
06/15/25 06054YAC1 0.00 13,991.25 13,991.25
06/15/25 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
06/15/25 89239FAD4 0.00 3,531.75 3,531.75
06/15/25 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
06/15/25 161571HT4 0.00 12,986.00 12,986.00
06/16/25 GMCAR 2025-2 A3
DTD 05/14/2025 4.280% 04/16/2030
06/16/25 362549AD9 0.00 2,587.02 2,587.02
06/16/25 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
06/16/25 36268GAD7 0.00 1,475.21 1,475.21
06/18/25 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
06/18/25 43815QAC1 0.00 9,333.57 9,333.57
06/30/25 US TREASURY N/B
DTD 01/03/2023 3.875% 12/31/2027
06/30/25 91282CGC9 0.00 82,343.75 82,343.75
06/30/25 US TREASURY N/B
DTD 12/31/2024 4.375% 12/31/2029
06/30/25 91282CMD0 0.00 270,484.38 270,484.38
06/30/25 US TREASURY N/B
DTD 06/30/2020 0.500% 06/30/2027
06/30/25 912828ZV5 0.00 13,862.50 13,862.50
06/30/25 US TREASURY N/B
DTD 07/01/2024 4.250% 06/30/2029
06/30/25 91282CKX8 0.00 62,050.00 62,050.00
Transaction Type Sub-Total 0.00 1,018,970.32 1,018,970.32

MATURITY
06/03/25 TREASURY BILL
DTD 02/04/2025 0.000% 06/03/2025
06/03/25 912797PL5 900,000.00 900,000.00 0.00 900,000.00 2,005.45 0.00 Transaction Type Sub-Total 900,000.00 900,000.00 0.00 900,000.00 2,005.45 0.00

PAYDOWNS
06/25/25 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
06/01/25 3137HAMR4 16,988.71 16,988.71 0.00 16,988.71 266.60 179.47 06/25/25 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
06/01/25 3136BQDE6 205.37 205.37 0.00 205.37 3.48 2.20
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 28 U.S. Bancorp Asset Management, Inc.
#13..
- 337 -
Managed Account Security Transactions & Interest For the Month Ending June 30, 2025 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

PAYDOWNS
06/25/25 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
06/01/25 3137BTUM1 4,865.61 4,865.61 0.00 4,865.61 149.77 63.43 06/25/25 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
06/01/25 3137HAD45 2,380.79 2,380.79 0.00 2,380.79 0.06 0.04 06/25/25 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
06/01/25 3137HAMG8 2,082.96 2,082.96 0.00 2,082.96 31.15 20.66 06/25/25 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
06/01/25 3137HAMN3 4,586.66 4,586.66 0.00 4,586.66 0.03 0.02 06/15/25 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
06/15/25 89231FAD2 17,901.15 17,901.15 0.00 17,901.15 4.05 2.46 06/15/25 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
06/15/25 90291VAC4 196,173.42 196,173.42 0.00 196,173.42 34.33 22.13 06/15/25 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
06/15/25 06428AAC2 86,596.06 86,596.06 0.00 86,596.06 3.28 1.93 06/15/25 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
06/15/25 31680EAD3 145,370.61 145,370.61 0.00 145,370.61 9.02 5.74 06/18/25 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
06/18/25 43815QAC1 142,875.57 142,875.57 0.00 142,875.57 29.46 17.50 Transaction Type Sub-Total 620,026.91 620,026.91 0.00 620,026.91 531.23 315.58 SELL
06/05/25 US TREASURY N/B
DTD 02/01/2021 0.375% 01/31/2026
06/04/25 91282CBH3 7,980,000.00 7,780,811.72 10,333.22 7,791,144.94 523,999.22 (72,313.28) FIFO 06/05/25 US TREASURY N/B
DTD 02/01/2021 0.375% 01/31/2026
06/04/25 91282CBH3 595,000.00 580,148.24 770.46 580,918.70 18,524.02 (9,300.69) FIFO 06/09/25 US TREASURY N/B
DTD 03/31/2022 2.500% 03/31/2027
06/04/25 91282CEF4 910,000.00 887,889.84 4,351.09 892,240.93 32,916.40 846.56 FIFO 06/10/25 US TREASURY N/B
DTD 02/28/2019 2.500% 02/28/2026
06/05/25 9128286F2 1,850,000.00 1,827,814.45 12,819.29 1,840,633.74 (185,216.80) (45,679.92) FIFO 06/12/25 NJ TPK AUTH -B-TXBL
DTD 02/04/2021 1.047% 01/01/2026
06/12/25 646140DP5 505,000.00 497,409.85 2,364.62 499,774.47 (7,590.15) (7,590.15) FIFO 06/23/25 US TREASURY N/B
DTD 09/30/2022 4.125% 09/30/2027
06/20/25 91282CFM8 3,010,000.00 3,023,874.22 28,496.31 3,052,370.53 33,509.76 22,957.85 FIFO PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 29 U.S. Bancorp Asset Management, Inc.
#13..
- 338 -
Managed Account Security Transactions & Interest For the Month Ending June 30, 2025 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
06/30/25 US TREASURY N/B
DTD 02/01/2021 0.750% 01/31/2028
06/27/25 91282CBJ9 2,110,000.00 1,955,953.52 6,557.32 1,962,510.84 124,374.61 (9,956.70) FIFO Transaction Type Sub-Total 16,960,000.00 16,553,901.84 65,692.31 16,619,594.15 540,517.06 (121,036.33) Managed Account Sub-Total (1,672,517.06) 973,745.34 (698,771.72) 543,053.74 (120,720.75) Total Security Transactions ($1,672,517.06) $973,745.34 ($698,771.72) $543,053.74 ($120,720.75) PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 30 U.S. Bancorp Asset Management, Inc.
#13..
- 339 -
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
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% 4/30/2024 3.61% 50,219,345.80 5.44% 398,650,446.11 3.19% 42,473,217.00 5.35% 5/31/2024 3.68% 50,450,429.25 5.43% 399,100,250.21 3.29% 42,706,970.79 5.27% 6/30/2024 3.76% 50,674,988.39 5.43% 399,326,031.56 3.39% 42,808,365.69 5.27% 7/31/2024 3.79% 50,908,210.76 5.43% 400,074,642.53 3.44% 43,066,591.51 5.14% 8/31/2024 3.65% 36,112,852.04 5.41% 400,899,946.42 3.34% 43,149,544.75 5.10% 9/30/2024 3.73% 21,244,197.28 5.29% 401,135,133.05 3.54% 43,205,826.11 4.78% 10/31/2024 3.80% 35,394,422.01 5.03% 403,285,397.15 3.62% 32,709,563.98 4.65% 11/30/2024 3.83% 36,072,860.08 4.87% 404,702,479.08 3.67% 32,740,820.12 4.65% 12/31/2024 3.84% 28,695,113.02 4.73% 405,389,405.62 3.71% 32,773,649.87 4.65% 1/31/2025 3.92% 28,806,032.00 4.55% 405,929,868.49 3.82% 32,806,480.28 4.65% 2/28/2025 3.96% 28,905,743.58 4.51% 407,804,449.58 3.87% 32,836,151.16 4.65% 3/31/2025 4.09% 44,039,271.43 4.47% 408,339,752.77 4.00% 32,869,009.39 4.65% 4/30/2025 4.09% 44,200,320.85 4.45% 409,488,391.09 4.01% 32,900,814.33 4.65% 5/31/2025 4.12% 79,438,306.43 4.42% 410,441,768.77 4.04% 32,935,133.33 4.31% 6/30/2025 4.09% 79,725,922.37 4.40% 412,622,161.85 4.02% 32,944,543.05 4.24% 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. #13..

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, 2026
Expected
Earnings to
June 30,
2026
Main Portfolio
Federal Agency CMBS
FHLMC 2,383,108 11/1/2026 4.160% 1 136,993 4.29% 102,254 FHLMC 4,000,000 3/1/2027 4.130% 2 329,587 4.94% 197,536 FHLMC 2,275,000 4/1/2027 4.070% 2 196,851 4.93% 112,267 FHLMC 3,530,000 6/1/2027 3.990% 2 336,753 4.97% 175,342 FHLMC 3,430,461 4/1/2028 4.100% 3 490,814 5.19% 178,079 FHLMC 1,865,617 5/1/2028 4.070% 3 265,119 5.01% 93,406
FHLMC 3,500,000 6/1/2028 4.100% 3 469,913 4.59% 160,748 FHLMC 2,771,061 6/1/2028 4.230% 3 387,007 4.78% 132,387 FNMA 3,342,975 7/1/2028 4.150% 3 459,732 4.58% 152,965
FHLMC 3,800,000 8/1/2028 4.100% 3 585,640 4.99% 189,502 FHLMC 1,995,269 8/1/2028 4.230% 3 325,082 5.27% 105,191 FHLMC 3,850,000 8/1/2028 4.100% 3 624,852 5.25% 202,190 FHLMC 3,800,000 9/1/2028 4.100% 3 612,329 5.07% 192,839 FHLMC 2,890,000 9/1/2028 4.070% 3 514,310 5.60% 161,970 FHLMC 1,465,000 10/1/2028 4.130% 3 245,067 5.14% 75,231 FHLMC 2,125,000 10/1/2028 4.100% 3 340,991 4.93% 104,678 FHLMC 1,935,000 11/1/2028 4.120% 3 309,633 4.79% 92,636 FHLMC 2,190,000 12/1/2028 4.110% 3 337,388 4.50% 98,517 FHLMC 2,220,000 12/1/2028 4.120% 3 330,331 4.34% 96,457 FHLMC 3,750,000 1/1/2029 4.150% 4 629,962 4.79% 179,498 FHLMC 3,750,000 1/1/2029 4.150% 4 630,265 4.79% 179,584 FHLMC 3,355,000 1/1/2029 4.110% 4 549,489 4.67% 156,568 FHLMC 2,715,000 1/1/2029 4.160% 4 460,314 4.83% 131,159 FHLMC 2,125,000 3/1/2029 4.160% 4 396,707 5.09% 108,058 FHLMC 3,850,000 5/1/2029 4.150% 4 709,772 4.80% 184,916 FHLMC 3,245,000 5/1/2029 4.150% 4 569,999 4.58% 148,501 FHLMC 3,500,000 7/1/2029 4.160% 4 607,451 4.33% 151,655 FHLMC 3,980,000 9/1/2029 4.170% 4 776,004 4.67% 185,854 U.S. Treasury
U.S. Treasury 10,805,000 7/31/2025 4.340% 0 44,109 3.66% 395,562 U.S. Treasury 11,115,000 9/15/2025 4.308% 0 93,701 3.64% 404,210 U.S. Treasury 1,360,000 2/28/2026 4.103% 1 6,359 1.64% 22,350 U.S. Treasury 6,000,000 2/28/2026 4.121% 1 46,125 1.94% 116,676 U.S. Treasury 4,645,000 2/28/2026 4.121% 1 85,289 3.01% 139,907 U.S. Treasury 4,925,000 3/31/2026 4.158% 1 32,146 1.53% 75,326 U.S. Treasury 2,480,000 3/31/2026 4.158% 1 14,125 1.45% 35,868 U.S. Treasury 11,085,000 5/15/2026 4.060% 1 401,528 4.07% 450,632 U.S. Treasury 1,405,000 5/31/2026 4.179% 1 11,197 1.09% 15,255 U.S. Treasury 4,615,000 5/31/2026 4.179% 1 116,947 2.82% 130,276 U.S. Treasury 4,800,000 5/31/2026 4.179% 1 131,830 3.04% 145,693 U.S. Treasury 4,640,000 8/31/2026 3.950% 1 149,280 2.75% 127,605 U.S. Treasury 4,310,000 9/30/2026 3.920% 1 149,366 2.77% 119,296 U.S. Treasury 4,545,000 11/15/2026 3.900% 1 188,453 3.01% 136,750 U.S. Treasury 9,220,000 2/15/2027 3.830% 2 428,727 2.85% 263,001 U.S. Treasury 6,480,000 4/30/2027 3.770% 2 346,572 2.92% 189,086 U.S. Treasury 5,545,000 6/30/2027 3.740% 2 331,868 2.99% 165,934 U.S. Treasury 1,200,000 8/15/2027 3.750% 2 84,280 3.30% 39,642 U.S. Treasury 2,985,000 8/15/2027 3.750% 2 215,783 3.40% 101,496 U.S. Treasury 2,370,000 9/30/2027 3.730% 2 228,066 4.27% 101,270 U.S. Treasury 8,775,000 10/31/2027 3.740% 2 802,051 3.91% 343,199 U.S. Treasury 2,715,000 10/31/2027 3.740% 2 241,748 3.81% 103,444 U.S. Treasury 3,160,000 10/31/2027 3.740% 2 267,938 3.63% 114,651 U.S. Treasury 4,250,000 12/31/2027 3.720% 3 402,147 3.78% 160,595 U.S. Treasury 1,340,000 1/31/2028 3.730% 3 127,046 3.66% 49,071 U.S. Treasury 2,220,000 1/31/2028 3.740% 3 202,163 3.52% 78,084 U.S. Treasury 1,245,000 2/29/2028 3.730% 3 141,173 4.25% 52,904 U.S. Treasury 2,555,000 3/31/2028 3.730% 3 245,627 3.49% 89,208 U.S. Treasury 2,675,000 3/31/2028 3.720% 3 268,698 3.65% 97,587 U.S. Treasury 2,810,000 4/30/2028 3.730% 3 287,042 3.60% 101,227 U.S. Treasury 6,530,000 4/30/2028 3.730% 3 629,471 3.40% 221,987 U.S. Treasury 3,450,000 3/31/2029 3.770% 4 566,481 4.37% 150,924 U.S. Treasury 5,190,000 4/30/2029 3.780% 4 910,280 4.57% 237,323 U.S. Treasury 4,430,000 4/30/2029 3.780% 4 654,099 3.85% 170,533 U.S. Treasury 4,190,000 5/31/2029 3.780% 4 708,550 4.31% 180,727 U.S. Treasury 1,430,000 5/31/2029 3.780% 4 240,833 4.30% 61,429 U.S. Treasury 2,920,000 6/30/2029 3.780% 4 517,510 4.43% 129,289 U.S. Treasury 2,105,000 7/31/2029 3.790% 4 330,896 3.85% 80,950 U.S. Treasury 7,550,000 8/31/2029 3.790% 4 1,127,529 3.58% 270,222 U.S. Treasury 8,695,000 9/30/2029 3.790% 4 1,318,073 3.56% 309,785 U.S. Treasury 4,850,000 10/31/2029 3.800% 4 879,793 4.18% 202,730 U.S. Treasury 6,315,000 11/30/2029 3.800% 4 1,140,600 4.08% 257,942 U.S. Treasury 12,365,000 12/31/2029 3.810% 5 2,465,984 4.43% 547,164 U.S. Treasury 3,470,000 1/31/2030 3.810% 5 690,461 4.33% 150,369 U.S. Treasury 5,215,000 1/31/2030 3.810% 5 952,817 3.98% 207,505 U.S. Treasury 8,565,000 2/28/2030 3.810% 5 1,582,992 3.96% 339,080 U.S. Treasury 10,775,000 3/31/2030 3.820% 5 1,991,771 3.89% 419,018 Earnings to
Maturity
June 30, 2025
#13..

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, 2026
Expected
Earnings to
June 30,
2026
Earnings to
Maturity
June 30, 2025
Negotiable CD
Rabobank Nederland 3,500,000 7/17/2026 3.820% 1 186,081 5.08% 177,800 Corporate Note
Bristol-Myers Squibb Co 2,230,000 11/13/2025 4.460% 0 7,894 2.57% 57,239 The Bank Of New York Mellon Corporation 3,465,000 1/28/2026 4.323% 1 14,993 1.91% 66,109 Wells Fargo & Company 5,635,000 8/7/2026 4.290% 1 344,499 5.54% 312,016 Microsoft Corp 3,000,000 8/8/2026 4.050% 1 71,003 2.14% 64,149 Bank Of America Co 3,750,000 8/18/2026 4.280% 1 235,168 5.53% 207,334 Mastercard Inc 2,560,000 11/21/2026 4.040% 1 154,537 4.33% 110,817 JPMorgan Chase & Co 3,500,000 12/8/2026 4.250% 1 257,740 5.11% 178,850 JPMorgan Chase & Co 850,000 12/8/2026 4.250% 1 63,068 5.15% 43,764 Target Corp 365,000 1/15/2027 4.100% 2 11,202 1.99% 7,249 Microsoft Corp 3,000,000 2/6/2027 4.000% 2 195,398 4.06% 121,707 Goldman Sachs Group Inc 3,000,000 5/21/2027 4.860% 2 288,025 5.08% 152,361 Home Depot Inc 3,610,000 9/14/2027 4.060% 2 331,454 4.16% 150,100 JPMorgan Chase & Co 1,535,000 2/24/2028 4.840% 3 209,073 5.13% 78,753 Kenvue Inc. 2,300,000 3/22/2028 4.160% 3 258,791 4.12% 94,838 Wal-Mart Stores Inc 1,220,000 4/15/2028 3.890% 3 134,661 3.95% 48,188 Apple Inc 5,200,000 5/10/2028 3.900% 3 585,011 3.93% 204,334 Morgan Stanley 1,360,000 5/26/2028 4.680% 3 217,590 5.50% 74,854 Morgan Stanley 2,640,000 5/26/2028 4.680% 3 418,145 5.45% 143,848 Deere & Company 1,165,000 7/14/2028 4.130% 3 176,577 4.98% 58,064 Deere & Company 495,000 7/14/2028 4.130% 3 69,878 4.64% 22,978 Deere & Company 895,000 7/14/2028 4.130% 3 128,713 4.73% 42,325 Paccar Financial Corp 1,130,000 8/10/2028 4.150% 3 179,307 5.09% 57,561 Toyota Motor Corp 2,800,000 9/11/2028 4.210% 3 474,390 5.29% 148,120 Citigroup Inc 5,650,000 9/29/2028 4.320% 3 1,066,250 5.80% 327,870 Bank Of America Co 2,060,000 1/24/2029 4.640% 4 342,691 4.66% 95,922 State Street Corporation 1,900,000 2/20/2029 4.560% 4 313,861 4.53% 86,070 Blackrock Inc. 365,000 3/14/2029 4.120% 4 64,146 4.74% 17,305 Adobe 1,580,000 4/4/2029 4.100% 4 287,507 4.83% 76,376
Adobe 1,295,000 4/4/2029 4.100% 4 232,527 4.77% 61,770
The Bank Of New York Mellon Corporation 2,700,000 4/20/2029 4.560% 4 457,311 4.45% 120,085 Pepsico Inc 1,935,000 7/17/2029 4.150% 4 355,329 4.53% 87,750 Eli Lilly & Co 660,000 8/14/2029 4.160% 4 115,708 4.25% 28,043 Eli Lilly & Co 2,290,000 8/14/2029 4.160% 4 393,752 4.17% 95,431 Pepsico Inc 730,000 2/7/2030 4.200% 5 156,115 4.64% 33,857 Wal-Mart Stores Inc 1,140,000 4/28/2030 4.130% 5 241,668 4.39% 50,033 Wal-Mart Stores Inc 3,500,000 4/28/2030 4.130% 5 701,324 4.15% 145,198 Asset-Backed Securities
Citigroup Inc 835,000 12/8/2027 4.510% 2 106,677 5.23% 43,701 Kubota Credit Owners Trust 890,000 1/18/2028 4.400% 3 120,134 5.29% 47,048 Bank of America Auto Trust 1,140,344 2/15/2028 4.600% 3 165,889 5.53% 63,072 Honda Auto Receivables 1,927,418 2/18/2028 4.530% 3 275,375 5.42% 104,374 Toyota Motor Corp 672,099 4/17/2028 4.480% 3 97,206 5.17% 34,717 USAA Owners Trust 2,324,111 5/15/2028 4.700% 3 373,348 5.58% 129,783 Bank of America Auto Trust 2,925,000 6/15/2028 4.510% 3 497,280 5.74% 167,907 Fifth Third Auto Trust 2,234,115 8/15/2028 4.580% 3 386,646 5.53% 123,578 Toyota Motor Corp 765,000 8/15/2028 4.330% 3 132,660 5.54% 42,400 American Express Co 3,090,000 9/15/2028 4.320% 3 519,455 5.23% 161,638 Chase Issurance 3,020,000 9/15/2028 4.230% 3 501,409 5.17% 156,022 Hyundai Auto Receivables 1,130,000 10/16/2028 4.340% 3 206,613 5.54% 62,636 Bank Of America Co 1,365,000 11/15/2028 4.250% 3 229,957 4.98% 68,018 Gm Financial Securitized Term 365,000 12/18/2028 4.350% 3 61,507 4.85% 17,719 Chase Issurance 3,390,000 1/16/2029 4.160% 4 554,103 4.60% 156,055 Kubota Credit Owners Trust 1,550,000 6/15/2029 4.190% 4 286,819 4.67% 72,399 Hyundai Auto Receivables 2,525,000 10/15/2029 4.200% 4 468,975 4.32% 109,168 Hyundai Auto Receivables 960,000 12/17/2029 4.120% 4 187,123 4.36% 41,876 Municipal Securities
Florida State Board of Administration Finance 505,000 7/1/2025 2.360% 0 15 3.56% 17,970 Florida State Board of Administration Finance 1,295,000 7/1/2025 2.360% 0 45 3.56% 46,086 Overnight Investments 79,725,922 Varies Varies 3.45% 2,749,108 Totals (Main Portfolio) 527,502,500 50,340,502 3.91% 20,617,110 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. #13..

Attachment 5
Issue Name / Type Trustee Bank Investment Total Amount
Instl Res Tre and Agny Cash Adv6541 $273,529.87
Financial Guaranty Insurance Pol $1.00
CAMP $2,222,610.64
Total $2,496,141.51
Instl Res Tre and Agny Cash Adv6541 $309,194.88
Letter of Credit $1.00
CAMP $5,498,462.57
Total $5,807,658.45
2018 Wastewater Refunding Bank of New York Fidelity Inv MM Trsy Only $196.02 Fairview Village Refunding US Bank First American Treasury Obligation Fund $198,614.11 Blackrock Federal Fund Instl 30 $186.08
CAMP $3,148,035.65
Total $3,148,221.73
Other Post Employment Benefits Section 115
Trust PARS HighMark Plus Moderate $1,941,245.22
Pension Section 115 Trust PARS HighMark Plus Moderately Conservative $3,142,028.81 Athens Administrators (New Third Party
Administrator - Worker's Compensation) Wells Fargo Bank $522,229.42 George Hills Company - General Liability Claims
Administration Services California Bank & Trust $58,698.14 Kemper Sports Management Inc. BMO Harris Bank Business Money Market $121,032.79 Stanislaus Community Foundation Modesto Commerce Bank Charles Schwab $833,381.25 Village One #2 Refunding Bank of New York
Cash with Fiscal Agent Investments
As of June 30, 2025
2008 Water Refunding COP Bank of New York
2008 Lease Revenue Bonds Bank of New York
#13..
- 343 -

UPDATE ON PORTFOLIO, STRATEGY,

AND MARKET CONDITIONS
Finance Committee, August 25, 2025
DeAnna Christensen, Director of Finance
Justin Resuello, PFM Asset Management, a division of U.S. Bank #13..
- 344 -
Current Market Themes
1 ➢ The U.S. economy is resilient but showing signs of cooling:
▹ Headline employment data belies underlying weakening
▹ Inflation remained rangebound but does not yet reflect the full impact of tariffs
▹ Fiscal policy uncertainty and volatile tariff rollouts weigh on consumer sentiment
➢ Fed remains on hold but may cut rates later this year ▹ The Fed’s June “dot plot” implies 50 bps of cuts in
the back half of 2025 but members are split
between 0 and 2 cuts this year
▹ Fed Chair Powell stated the effect, size, and
duration of tariffs are all highly uncertain making
staying on hold the appropriate thing to do as they
wait to learn more
➢ Treasury yields whipsawed by tariff
announcements in Q2
▹ Concerns over the budget bill, debt
ceiling, and monetary policy added to
volatility
▹ The yield curve continued to steepen
between 2 years and 10 years
▹ Credit spreads widened sharply
following tariff fears but tightened to
levels near historic tights by quarter end
#13..
- 345 -
Inflation Trending Lower but Work Remains
Source: Federal Reserve, as of 7/31/2025. Federal Reserve, Bloomberg Finance LP, Bureau of Economic Analysis as of June 2025. 2 Federal Reserve Inflation Target

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Jan-24 Apr-24 Jul-24 Oct-24 Jan-25 Apr-25 Jul-25
Federal Funds Target Rate (Upper Limit)
#13..
- 346 -
U.S. Treasury Yield Curve
FYE
6/30/25
FYE
6/30/24
Change
YoY
3-month 4.29% 5.35% (1.06%)
6-month 4.25% 5.32% (1.08%)
1-year 3.97% 5.11% (1.14)
2-year 3.72% 4.75% (1.03)
3-year 3.69% 4.55% (0.86)
5-year 3.80% 4.38% (0.58)
Source: Bloomberg Finance LP as of 6/30/2025.
3 3.0%

3.5%

4.0%

4.5%

5.0%

5.5%

6.0%
U.S. Treasury Yield Curve
June 30, 2025 June 30, 2024
3M 6M 1Y 2Y 3Y 5Y
#13..
- 347 -

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
2-Year U.S. Treasury
Source: Bloomberg Financial LP as of 6/30/2025.
4 10-Year Average: 2.12%
#13..
- 348 -
5 Program Goals and Objectives
Investment criteria per the City of Modesto Investment Policy.

Safety of
Principal Criteria:

Achieved
Through:

Liquidity Return on
Investment
o High quality
investments
o Diversification
o Management of
credit and
market risk
o Cash flow
coordination
o Allocation to
overnight funds
o High quality
investments
o Duration
management
o Continual
evaluation of
relative value
o Active trading
#13..
- 349 -
● Income generation potential on the City’s portfolio increased ○ Investment income of $16.8 million1
● Excess returns were strong across investment grade sectors as the spread widening experienced in April reversed following trade news and resilient economic data. ○ Outperformed benchmark by +33 basis points on a net basis2 ● Maintained diversified portfolio
● Remained in compliance with City’s investment policy
● Kept city staff informed of events impacting investment program 6 Fiscal Year 2025 Accomplishments

1. As of June 30, 2025. Aggregate fiscal year income on an accrual (amortized cost) basis.

2. City of Modesto one-year total return versus the performance benchmark which was the ICE BofAML 1-3 Year U.S. Treasury Index through December 31, 2018, and is now the ICE BofAML 1-5 Year U.S. Treasury Index.
#13..
- 350 -
7 1. Market values exclude accrued interest and case in the money market fund.

Portfolio Characteristics as of June 30, 2025
Market
Value1 Yield Average Maturity
Total Portfolio $527,960,088 4.14% 2.35 years
Long-Term Portfolio $415,282,805 4.08% 2.96 years
Short-Term Portfolio $32,951,361 4.31% 143 days
CAMP Pool $79,725,922 4.40% 1 day
● Portfolio segmentation allows for optimal investment
● Portfolio is in compliance with the City’s Investment Policy $0
$20
$40
$60
$80
$100
$120
Overnight 0-1 Year 1-2 Years 2-3 Years 3-4 Years 4-5 Years Millions
Maturity Distribution
Long-Term Short-Term CAMP
20%
15%
13% 14%
16%
21%
#13..
- 351 -
8 Portfolio Characteristics as of June 30, 2025
● Portfolio is diversified by issuer and in compliance with the City’s investment policy ● Portfolio is of high credit quality; average rating of AA1

1. S&P Ratings. An average of each security’s credit rating assigned a numeric value and adjusted for its relative weighting in the portfolio.

U.S. Treasury
45%
Federal Agency Commercial
Mortgage-Backed Security
16%
Bank Note
2%
Municipal
<1%
Asset-Backed Security
7%
Corporate Note
14%
Negotiable Certificate of
Deposit
CAMP Pool 1%
15%
Sector Allocation
AAA
7%
A-1
8%
AA
65%
A
3%
NR
2%
AAAm
15%
Credit Quality
#13..
- 352 -

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%
FYE 2025 3 Years 5 Years 10 Years
Annualized Returns Net of Management Fees1,2,3
As of June 30, 2025
City of Modesto Long-Term Portfolio Benchmark
+0.03% +0.35%
-0.06%
+0.33%
9 1. Performance on trade date basis, net of portfolio management fees. Excludes collateralized certificates of deposit, cash, and pool balances from performance, earnings, and duration computations.

2. The benchmark is the ICE BofAML 1-5 Year U.S. Treasury Index since December 31, 2018, and was the ICE BofAML 1-3 Year U.S. Treasury Index prior. ICE BofAML indices provided by Bloomberg Financial Markets.

3. Portfolio inception date as of March 31, 2004.

Portfolio Performance Remains Strong
Relative to Benchmark
#13..
- 353 -
Looking Ahead
➢ Consumers Spending
▪ Consumer sentiment remains subdued due to
expectations of higher prices, weaker labor markets,
and tepid growth. Sentiment has improved slightly since April amid tariff negotiation progress but remains low. ▪ A sharp labor market downturn remains the biggest
threat to consumer spending.
▪ Tariff-driven inflation increases present additional risks such as slower real wage growth and reduced
spending.
➢ Financial Conditions
▪ Financial conditions swung sharply during the
quarter as the tariff rollout caused equities to sell
off, credit spreads to widen, and heightened
Treasury volatility.
▪ The announcement of tariff pauses sparked a riskon trade resulting in equities near record highs and credit spreads tightening beyond long-run averages.
▪ The evolving fiscal landscape and persistent
uncertainty may lead to tightening financial
conditions over the next 6-12 months.
➢ Strategic management of City’s funds will adjust to
changing market/interest rates
▪ Current expectation is for 50 basis points in cuts for 2025
▪ Maintaining strategic diversification of portfolio
holdings
▪ Focus on safety remains the top priority
10 #13..
- 354 -
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 please visit www.pfmam.com. 11 Disclaimer
#13..
- 355 -
● The Finance Department is responsible for the deposit and invests City fund as defined in the City Municipal Code 2-3.404
● The Director of Finance is designated as the City Treasurer ● Pursuant to the Government Code, the authority of the City Council to invest or to reinvest funds of the City, or to sell or exchange securities, may be delegated for a one-year period to the Treasurer ● This delegation will be presented annually as part of the Annual Investment report
Delegation of Authority
12 #13..
- 356 -
Motion delegating the responsibility for investment transactions to the Director of Finance and accepting the Annual Investment Report for Fiscal Year 2024- 2025 and forwarding to Council for approval.

Staff Recommendation
13 #13..
- 357 -
QUESTIONS?
14 #13..
- 358 -

CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

September 9, 2025
Date: August 15, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
Bill Sandhu, Public Works Director
SUBJECT: Purchase of Fleet Addition and Replacement
CONTACT: Dianne Love, Purchasing Manager, [email protected], 209-571-5164 DESCRIPTION:

Consider approving the purchase for one (1) Fleet Replacement and one (1) Fleet Addition for Fleet Vehicles which includes one (1) 2025 Ford F-350 Truck and one (1) Digger Derrick Truck in a total amount not to exceed $653,670. (Funding Source: Measure H and Fleet Replacement Fund)
STRATEGIC PLAN ELEMENT:

This item advances the City of Modesto 2025-2026 Strategic Plan Area: Governance and Service Delivery: Goal I: “Promote trust and engagement between the community and the City by enhancing responsiveness, communicating broadly about City opportunities and challenges, and increasing public participation in municipal affairs.” BACKGROUND:

Every year, City vehicles and equipment are individually evaluated based on their age, condition, mileage and maintenance costs including the addition of new vehicles due to the operational needs for the city. Following this process, a Fleet Addition and Replacement List is submitted to Council and is approved as part of a new fiscal year’s Public Works Fleet Budget.

Throughout the fiscal year, replacement vehicles need to be replaced to the City’s Fleet inventory due to the operational needs of City departments especially when the existing vehicle has reached its useful life. The charts captured below provide a summary of the Fleet Replacement being replaced from our existing City’s Fleet inventory and a description to capture the purpose of the Fleet vehicle.
#14..
- 359 -
City Council, September 9, 2025
Purchase of Fleet Addition and Replacement

Fleet Addition:

IFB Vehicle
#
Description Dept. Year of
Vehicle
Meter Repair
Cost
2526-02 41527
2025 Ford F-350
Truck
Modesto Fire
Department 2015 82608 $38,514
This vehicle is used for providing superior payload capacity, allowing personnel to transport equipment, tools, and specialty gear in response to critical technical rescues or wildland fire scenarios. The enhanced towing capability also increase utilization for hauling trailers, boats, or mobile command units that may be needed during complex fire response incidents.

Fleet Replacement:

IFB Vehicle
#
Description Dept. Year of
Vehicle
Meter Repair
Cost
2526-01 40904
Digger Derrick
Truck PW. Electrical 2009 26,027 $115,202
This vehicle is used for drilling holes, lifting heavy materials, and setting poles or structural supports. Electrical will use this equipment for utility and telecommunications tasks and plays a key role in construction and infrastructure projects.

DISCUSSION:

Sourcewell1 and the public agencies are cooperative agreements to streamline the procurement process by developing Request for Proposals (RFP)’s for national competitive solicitations that meet or exceed local requirements. The competitive process is continually refined to best meet agency needs and allows Sourcewell and public agencies to offer exceptional products from nationally acclaimed vendors. For the new Fleet Additions, the City has utilized cooperative agreements to meet the City’s procurement rules.

Invitation to Bids (IFB) 2526-02 – One (1) 2025 Ford F-350 Truck On June 2, 2025, the City Manager authorized the Purchasing Manager to solicit the procurement for a 2025 Ford F-350 Truck. In accordance with the Modesto Municipal Code (MMC), 8-3.202(h), the City may utilize other government agencies competitive bidding processes to meet the City’s purchasing bidding requirements to solicit goods. On February 8, 2024, Sourcewell solicited a bid for the State of Minnesota local government unit and service cooperative issued Request for Proposal (RFP) #032824 for Class 4-8 Chassis and Cabs with Related Equipment, Accessories, and Services on the Sourcewell Procurement Portal and New York State Contract Reporter website, Daily Journal of Commerce (DJC) Oregon and McClatchy.

On March 28, 2024, proposals were opened at the Sourcewell Procurement Portal, 35 proposals were received, and the proposals were based on the Sourcewell intent to award to one or more contract to highest scored proposers offering the best overall quality, selection of equipment, products, and services and price. Seventeen (17) contracts were awarded for this commodity which includes Rush Truck Center of Texas as the Dealer but procured through various Rush Truck Centers throughout United States of America (USA). Based on the ranking of the proposals offering the Class 4-8 Chassis and Cabs with Related Equipment, Accessories, and Services, City staff recommends awarding to Rush Truck Centers, Ceres, CA to purchase one (1) 2025 Ford F350 Truck in the amount of $83,987.
1 Sourcewell - https://www.sourcewell-mn.gov/
#14..
- 360 -
City Council, September 9, 2025
Purchase of Fleet Addition and Replacement

IFB-2526-01– One (1) Digger Derrick Truck
On August 24, 2023, the City Manager authorized the Purchasing Manager to solicit the procurement for Digger Derrick Truck. In accordance with the Modesto Municipal Code (MMC), 8-3.202(h), the City may utilize other government agencies competitive bidding processes to meet the City’s purchasing bidding requirements to solicit goods. On September 16, 2021, Sourcewell a State of Minnesota issued RFP No.110421 under Contract No.110421-TER for Public Utility Equipment with Related Accessories and Supplies on the New York State Contract Reporter, DJC Oregon, McClatchy, Alberta Purchasing Connection, Public Purchase, R2CoW, Sourcewell Procurement Portal.

On November 4, 2021, proposals were opened at Sourcewell Procurement Portal. Ten (10) proposals were received and based on the Sourcewell intent to award to one or more contract to the highest scored proposers offering the best overall quality, selection of equipment, products, and services and price. Six (6) contracts were awarded for this commodity which includes Terex Utilities, Inc. Based on the ranking of the proposals offering the awarding Public Utility Equipment with Related Accessories and Supplies, City staff recommends to award to Terex Utilities, Inc., Watertown, SD to purchase one (1) Digger Derrick Truck in the amount of $449,553.

Modesto Municipal Code Section 8-3.203 generally requires all purchases that meet or exceed $100,000 for material, equipment or contractual services to be formally bid. However, exceptions to the formal bidding process are granted in MMC 8-3.204(d) “Where the Purchasing Manager, in her discretion, determines that a process other than the formal bid procedure set for in Section 8-3.203 will result in a procurement for the City at the lowest possible cost commensurate with the desired quality.” In addition, MMC 8-3.202(h) encourages the Purchasing Manager to join with the State of California or other units of government in cooperative purchasing plans when the best cost savings interest of the City would be served.

By utilizing Sourcewell and the public agencies bidding process, the City is complying with the requirements defined under this code as competitive pricing was solicited through the Sourcewell RFPs for one (1) 2024 Ford F350 Truck and one (1) Digger Derrick Truck.

For all vehicles and equipment, City staff recommends applying a change order of up to 15% in case any market changes occur between the timeframe of when the order is placed with the vendor and when the production of the vehicle is completed. With current inflation, and the volatile vehicle market, City staff will ensure any prices increases requested by the vendor align with the market change based on using the Commodities Research Unit indexes which focuses on indexes related to steel.

With the new California Air Resource Board (CARB) zero-emission regulations as described in the Advanced Clean Fleets Regulation for State and Local Government Agency Fleet Requirements, § Section 2013(c)4, State and Local Government Fleet Applicability, Definitions, and General Requirements, California Vehicle Code (CVC) Section 165, emergency vehicles are exempt under the current regulation to convert from internal combustion engines (ICE) to zero-emission vehicles. The replacement vehicle for the Fire Department, the one (1) 2024 Ford F550 Truck is exempt under this regulation as it is classified as an emergency vehicle per CVC section 165(b)(2). Public Works is currently developing the City’s fleet migration to Zero Emission Vehicles to comply with the State regulations2 in reducing reliance on internal 2 https://ww2.arb.ca.gov/our-work/programs/zero-emission-vehicle-program #14..
- 361 -
City Council, September 9, 2025
Purchase of Fleet Addition and Replacement

combustion engines. There are no known equivalent zero emission vehicles that will perform the services required for the one (1) Digger Derrick Truck, which is an exemption under the state mandate if no identified zero emission manufacturers produce the specified equipment.

FISCAL IMPACT:

Sufficient funds for one (1) 2025 Ford F350 Truck were budgeted in Fiscal Year (FY) 2023-2024 utilizing Measure H funds which have been carried over to the current FY 2025-26. The one (1) Digger Derrick Truck was approved in FY 2023-24 as part of the Fleet Replacement vehicles.

These replacement funds were collected over the life of the current vehicle to cover the cost for the replacement vehicles through the Fleet Internal Service Fund allocation.

The purchase price for the Digger Derrick Truck does not include the 8.875% Modesto Sales Tax in the amount of $39,898 to California Department of Tax and Fee Administration and Department of Motor Vehicles fee in the amount of $200. These amounts will be paid by the City directly to these State agencies.

Below is a summary of the Fleet Replacements and Funding Source:

IFB No. Type of Fleet
Original
Amount
Change
Order
Amount not to
Exceed Funding Source
2525-02 (1) 2025 Ford F350 Truck $ 83,987 $ 12,599 $ 96,586 Measure H 2526-01 (1) Digger Derrick Truck $ 489,651 $ 67,433 $ 557,084 Fleet Replacement Fund Grand Total $ 573,638 $ 80,032 $ 653,670
COMMITTEE RECOMMENDATION:

This item was presented at the Fiscal Year 2023-24 Finance Committee Budget Workshops to capture a new Fleet Addition for the one (1) 2025 Ford F-350 Truck and the Fleet Replacement for the one (1) Digger Derrick Truck.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution approving the Competitive Bidding Process from Sourcewell to Rush Enterprises dba Rush Truck Centers of New Braunfels, TX under the authorized dealer, Rush Medium-Duty Truck Centers of California Inc. dba Rush Truck Centers, Ceres, CA for the purchase of one (1) 2025 Ford F-350 Truck for an amount not to exceed $83,987; and authorizing the Director of Finance, or her designee, to issue the Purchase Order; and authorizing the Director of Finance or her designee to execute any Change Orders not to exceed 15% of the total purchase price.

Resolution approving the Competitive Bidding Process from Sourcewell to Terex Utilities, Inc., Watertown, SD for the purchase of one (1) Digger Derrick Truck for an amount not to exceed $449,553 plus $40,098 in taxes and fees to be paid directly to the state; and authorizing the Director of Finance, or her designee, to issue the Purchase Order; and authorizing the Director of Finance or her designee to execute any Change Orders not to exceed 15% of the total purchase price.
#14..
- 362 -
City Council, September 9, 2025
Purchase of Fleet Addition and Replacement

Approved by:

DeAnna Christensen, Director of Finance
Bill Sandhu, Public Works Director
Joseph P. Lopez, City Manager
Attachments:

1. Resolution (2)

2. Quote - Rush - (1) 2025 Ford F-350 Truck

3. RFP Scoring Abstract- (1) 2025 Ford F-350 Truck

4. Rush – CA Levine Act and FID

5. Quote – Terex - (1) Digger Derrick Truck

6. RFP Scoring Abstract- (1) Digger Derrick Truck

7. Terex – CA Levine Act and FID
#14..
- 363 -
09/09/2025/FIN/DLove/Item X 1 2025-XX

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-

RESOLUTION APPROVING THE COMPETITIVE BIDDING PROCESS FROM

SOURCEWELL TO RUSH ENTERPRISES DBA RUSH TRUCK CENTERS OF

NEW BRAUNFELS, TX UNDER THE AUTHORIZED DEALER, RUSH
MEDIUM-DUTY TRUCK CENTERS OF CALIFORNIA INC. DBA RUSH
TRUCK CENTERS, CERES, CA FOR THE PURCHASE OF ONE (1) 2025 FORD F-350 TRUCK FOR AN AMOUNT NOT TO EXCEED $83,987; AND

AUTHORIZING THE DIRECTOR OF FINANCE, OR HER DESIGNEE, TO ISSUE THE PURCHASE ORDER; AND AUTHORIZING THE DIRECTOR OF

FINANCE OR HER DESIGNEE TO EXECUTE ANY CHANGE ORDERS NOT TO EXCEED 15% OF THE TOTAL PURCHASE PRICE
WHEREAS, the Public Works Fleet Division provides the maintenance for all City vehicles and equipment; and
WHEREAS, every year, City vehicles and equipment are individually evaluated based on their age, condition, mileage and maintenance costs including the addition of new vehicles due to the operational needs for the city; and WHEREAS, on February 8, 2024, Sourcewell solicited a bid for the State of Minnesota local government unit and service cooperative issued Request for Proposal (RFP) #032824 for Class 4-8 Chassis and Cabs with Related Equipment, Accessories, and Services on the Sourcewell Procurement Portal and New York State Contract Reporter website, Daily Journal of Commerce (DJC) Oregon and McClatchy; and WHEREAS, on March 28, 2024, proposals were opened at the Sourcewell Procurement Portal, 35 proposals were received, and the proposals were based on the Sourcewell intent to award to one or more contract to highest scored proposers offering the best overall quality, selection of equipment, products, and services and price; and #14..
- 364 -
09/09/2025/FIN/DLove/Item X 2 2025-XX
WHEREAS, seventeen (17) contracts were awarded for this commodity which includes Rush Truck Center of Texas as the Dealer but procured through various Rush Truck Centers throughout United States of America (USA); and WHEREAS, based on the ranking of the proposals offering the Class 4-8 Chassis and Cabs with Related Equipment, Accessories, and Services, City staff recommends awarding to Rush Truck Centers, Ceres, CA to purchase one (1) 2025 Ford F350 Truck in the amount of $83,987; and
WHEREAS, Sourcewell is a cooperative agreement to streamline the procurement process by developing Request for Proposals (RFP)’s for national competitive solicitations that meet or exceed local requirements; and WHEREAS, Modesto Municipal Code Section 8-3.203 generally requires all purchases that meet or exceed $100,000 for material, equipment, or contractual services to be formally bid; However, exceptions to the formal bidding process are granted in MMC 8-3.204(d) “Where the Purchasing Manager, in her discretion, determines that a process other than the formal bid procedure set for in Section 8-3.203 will result in a procurement for the City at the lowest possible cost commensurate with the desired quality”; and
WHEREAS, MMC 8-3.202(h) encourages the Purchasing Manager to join with the State of California or other units of government in cooperative purchasing plans when the best cost savings interest of the City would be served; and WHEREAS, by utilizing the Sourcewell bidding process, the City is complying with the requirements defined under this code for the purchase of one (1) Ford F-350 Truck.
#14..
- 365 -
09/09/2025/FIN/DLove/Item X 3 2025-XX
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the Competitive Bidding Process from Sourcewell to Rush Enterprises dba Rush Truck Centers of New Braunfels, TX under the authorized dealer, Rush Medium-Duty Truck Centers of California Inc. dba Rush Truck Centers, Ceres, CA for the purchase of one (1) 2025 Ford F-350 Truck for an amount not to exceed $83,987.

BE IT FURTHER RESOLVED, that the Director of Finance, or her designee, is hereby authorized to issue the Purchase Order.

BE IT FURTHER RESOLVED, that the Director of Finance, or her designee, is hereby authorized to execute any change orders not to exceed 15% of the total purchase price.
#14..
- 366 -
09/09/2025/FIN/DLove/Item X 4 2025-XX
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 9th day of September, 2025, by Councilmember _____, who moved its adoption, which motion being duly seconded by Councilmember _____, was 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
#14..
- 367 -
09/09/2025/FIN/DLove/Item X 1 2025-XX

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-

RESOLUTION APPROVING THE COMPETITIVE BIDDING PROCESS FROM SOURCEWELL TO TEREX UTILITIES INC., WATERTOWN, SD FOR THE PURCHASE OF ONE (1) DIGGER DERRICK TRUCK FOR AN AMOUNT NOT TO EXCEED $449,553 PLUS $40,098 IN TAXES AND FEES TO BE DIRECTLY TO THE STATE; AND AUTHORIZING THE DIRECTOR OF FINANCE, OR HER DESIGNEE, TO ISSUE THE PURCHASE ORDER; AND AUTHORIZING

THE DIRECTOR OF FINANCE OR HER DESIGNEE TO EXECUTE ANY
CHANGE ORDERS NOT TO EXCEED 15% OF THE TOTAL PURCHASE
PRICE
WHEREAS, the Public Works Fleet Division provides the maintenance for all City vehicles and equipment; and
WHEREAS, every year, City vehicles and equipment are individually evaluated based on their age, condition, mileage and maintenance costs including the addition of new vehicles due to the operational needs for the city; and WHEREAS, on September 16, 2021, Sourcewell a State of Minnesota issued RFP No.110421 under Contract No.110421-TER for Public Utility Equipment with Related Accessories and Supplies on the New York State Contract Reporter, DJC Oregon, McClatchy, Alberta Purchasing Connection, Public Purchase, R2CoW, Sourcewell Procurement Portal; and
WHEREAS, on November 4, 2021, proposals were opened at Sourcewell Procurement Portal; and
WHEREAS, ten (10) proposals were received and based on the Sourcewell intent to award to one or more contract to the highest scored proposers offering the best overall quality, selection of equipment, products, and services and price; and WHEREAS, six (6) contracts were awarded for this commodity which includes Terex Utilities, Inc.; and
#14..
- 368 -
09/09/2025/FIN/DLove/Item X 2 2025-XX
WHEREAS, based on the ranking of the proposals offering the awarding Public Utility Equipment with Related Accessories and Supplies, City staff recommends to award to Terex Utilities, Inc., Watertown, SD to purchase one (1) Digger Derrick Truck in the amount of $449,553; and
WHEREAS, the purchase price for the Digger Derrick Truck does not include the

8.875% Modesto Sales Tax in the amount of $39,898 to California Department of Tax and Fee Administration and Department of Motor Vehicles fee in the amount of $200; and
WHEREAS, these amounts will be paid by the City directly to these State agencies; and
WHEREAS, Sourcewell is a cooperative agreement to streamline the procurement process by developing Request for Proposals (RFP)’s for national competitive solicitations that meet or exceed local requirements; and WHEREAS, Modesto Municipal Code Section 8-3.203 generally requires all purchases that meet or exceed $100,000 for material, equipment, or contractual services to be formally bid; However, exceptions to the formal bidding process are granted in MMC 8-3.204(d) “Where the Purchasing Manager, in her discretion, determines that a process other than the formal bid procedure set for in Section 8-3.203 will result in a procurement for the City at the lowest possible cost commensurate with the desired quality”; and
WHEREAS, MMC 8-3.202(h) encourages the Purchasing Manager to join with the State of California or other units of government in cooperative purchasing plans when the best cost savings interest of the City would be served; and #14..
- 369 -
09/09/2025/FIN/DLove/Item X 3 2025-XX
WHEREAS, by utilizing the Sourcewell bidding process, the City is complying with the requirements defined under this code for the purchase of one (1) Digger Derrick Truck.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the Competitive Bidding Process from Sourcewell to Terex Utilities, Inc., Watertown, SD for the purchase of one (1) Digger Derrick Truck for an amount not to exceed $449,553, plus $40,098 in taxes and fees to be paid directly to the state.

BE IT FURTHER RESOLVED, that the Director of Finance, or her designee, is hereby authorized to issue the Purchase Order.

BE IT FURTHER RESOLVED, that the Director of Finance, or her designee, is hereby authorized to execute any change orders not to exceed 15% of the total purchase price.
#14..
- 370 -
09/09/2025/FIN/DLove/Item X 4 2025-XX
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 9th day of September, 2025, by Councilmember _____, who moved its adoption, which motion being duly seconded by Councilmember _____, was 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
#14..
- 371 -
Customer Proposal Letter
Signature Printed Name Date
Signature Printed Name / Title Date
Signature Printed Name Date
Note: The above Customer Proposal is a quotation only. Sale terms subject to approval of Sales Manager of Dealer.

DISCLAIMER: Any order based on this Proposal is subject to Customer executing Dealer’s standard form Retail Sales Order and other required documents incorporating the above terms. Any documentary fees, FET, state tax, title, registration and license fees subject to adjustment and change. This Proposal is based upon Dealer’s current and expected inventory, which is subject to change. Dealer is not obligated to retain any specific vehicles in stock, nor maintain any specific inventory levels. Dealer shall not be obligated to fulfill Proposal in event quoted vehicle(s) is not in stock or available within requested delivery schedule. Manufacturer has reserved the right to change the price to Dealer of any vehicle not currently in Dealer’s stock, without notice to Dealer. If a vehicle identified in this Proposal is not currently in Rush’s stock at the time an order is placed by the Customer, Dealer reserves the right to change the vehicle price at any time to reflect any price increases imposed by the Manufacturer. Dealer shall not be liable for any delay in providing or inability to provide Quoted Vehicle(s). Above listed Trade Value based upon current appraisal of Trade Vehicle(s). Dealer may adjust Trade Value of Trade Vehicle(s) to reflect changes in condition and/or mileage of Trade Vehicle(s) between date of current appraisal and acceptance of the Trade Vehicle by Customer. (1) Includes subscription period for # of specified months. (2) Customer’s use of RushCare Service is governed by the RushCare User Agreement located at https://www.rushtruckcenters.com/rushcare­user­agreement. (3) Customer’s use of Telematics Services is governed by separate 3rd party license terms and Rush is not liable for the Telematic Service. (4) Gap Coverage is provided and administered by an independent 3rd party provider under a separate contract directly between Customer and the 3rd party provider.
$ 76,772.45 $ 76,772.45 $ 0.00 $ 76,772.45 $ 76,772.45
1720 Herndon Rd
Ceres, CA 95307-4421
(209) 857-7400 Rush Medium-Duty Truck Centers of California, Inc. dba Rush Truck Center, Ceres City of Modesto
1609 8th St
Modesto, CA 95354-2259 2025 Ford F-350 1879312 1FT8W3BM3SEC71224 $ 6,841.19 $ 6,841.19 $ 80.00 $ 80.00 $ 34.00 $ 250.00 $ 250.00 $ 8.75 $ 8.75 $ 83,986.39 $ 83,986.39 9/20/2025 Carlos Perez Documentary Fee Electronic Filing Administration Fee Tire Recycling Program $ 34.00 $ 83,986.39 $ 83,986.39 Additional Vehicle Details: SOURCEWELL CONTRACT NUMBER 032824-RTG CHASSIS MSRP: $80,390 - 1.5% SOURCEWELL DISCOUNT (1205.85) ADDTIONAL DISCOUNT: ($2,411.70) Thank you for trusting us with your business. Please review the proposal below, and if you approve, sign and return to us at your convenience. We look forward to working with you and will continue to do our best to earn your trust now and in the future. VEHICLE INFORMATION Year Make Model Stock # Serial # Quantity Truck Price per Unit F.E.T. (Factory & Dealer Paid) Net Sales Price Optional Extended Warranty(ies) State Sales Tax Total Total Sales Price Trade Allowance (see DISCLAIMER Below) Deposit / Down Payment Unpaid Balance Due on Delivery Sales Representative Purchaser Accepted by Sales Manager
or General Manager Quote good until
#14..
- 372 -
Diesel Vehicle
€B^^^B€
jG:38r[x'`BOaT
€B^^^B€
% +7
2+%DrS&G:$aKV)W(/}A=
@4=
Z_f\zVf
K=1e2'oDAu|:|?J6
LsSK,)(P|@TpqqEd0|'ih y[Y -b*m
}uuu}
5
aIQUaq]Ie
5}YyAYQI
Eai
SCAN OR TEXT TO 1FSEC71224 48028
Msg & Data
rates may
apply.

Text HELP
for help
www.ford.com/help/privacy-terms/
1FT8W3BM3SEC71224
¬“‚ž‰¡„Œ—„ˆ‚ƒƒ
¬
KTP-000479 99 1FT8W3BM3 SEC71224 NB DEPL

VEHICLE DESCRIPTION
SUPER DUTY SE C71224
2025 F350 SRW 4X4 CREW CAB EXTERIOR
XLT 160" WB STYLESIDE RACE RED

6.7 HI OUTPUT POWER STROKE INTERIOR
10-SPEED AUTO TORQSHIFT MEDIUM DARK SLATE CLOTH
72V 919 7B X X
LABL ADJ COV PRCS B10 RAMP BUMP
1FT8W3BM3SEC71224 SUPER MAIL
ĬÝĐÓĔÂĞÎġ³ăÒĩÆĒãĪÓø³ĘÙĀ·Ğ×
Ĭê¶Ĥĉ±Ĥùö½óíąĐÎûÒ°üеØĊйĂ
Ĭ¸ÏđĉĞýēðÀµěêøĚĞÇÜðĀħñ°ĀÀ×
ĩéùāáđāĉāāġÉāāāùÉÑđá±ñùāġā
029468
724/1111
Rush Truck Center, Ceres TOTAL MSRP 1720 Herndon Road
Ceres CA 95307
72V 919
Diamond Truck Body 88 HS2
1908 E. Fremont Street
Stockton CA 95205
RA84

SOLD TO RAMP ONE

SHIP TO (IF OTHER THAN SOLD TO) RAMP TWO

SHIP THROUGH
$80,390.00

FINAL ASSEMBLY PLANT

KENTUCKY
METHOD OF TRANSP.

RAIL
ITEM #:
72-C157 O/T 2
B882 A 7BX X 515 000479 04 28 25

INCLUDED ON THIS VEHICLE

OPTIONAL EQUIPMENT/OTHER
PREFERRED EQUIPMENT PKG.613A

6.7 HI OUTPUT POWER STROKE 12,995.00
10-SPEED AUTO TORQSHIFT NO CHARGE

3.55 ELECTRONIC-LOCKING AXLE NO CHARGE

FRONT LICENSE PLATE BRACKET NO CHARGE
ALL WEATHER MATS W/O CARPT MAT 130.00
TREMOR OFF-ROAD PACKAGE 4,375.00
.35" OFF ROAD LT285/75R18E AT
.SKID PLATES
.MACHINED AND PAINT ALUM-18"WH
PICKUP BOX BED SIDE STORAGE 1,695.00
12000# GVWR PACKAGE
50 STATE EMISSIONS NO CHARGE
BACKGLASS DEFROST 60.00
PRO POWER ONBOARD - 2KW 985.00
POWERSCOPE TRAILER TOW MIRROR 280.00
JACK
LED BOX LIGHTING 60.00
EXTERIOR BACKUP ALARM 220.00
TOUGH BED SPRAY IN BEDLINER 595.00

DUAL BATTERY NO CHARGE

PRICE INFORMATION
BASE PRICE $57,000.00
TOTAL OPTIONS/OTHER 21,395.00
____________
TOTAL VEHICLE & OPTIONS/OTHER 78,395.00
DESTINATION & DELIVERY 1,995.00
(MSRP)(MSRP)

STANDARD EQUIPMENT INCLUDED AT NO EXTRA CHARGE

EXTERIOR
Ÿ FOG LAMPS
Ÿ HEADLAMPS - AUTO HIGH BEAM
Ÿ HEADLAMPS - AUTOLAMP
(ON/OFF)
Ÿ TOW HOOKS
Ÿ TRAILER BRAKE CONTROLLER
Ÿ TRAILER SWAY CONTROL
Ÿ TRAILER TOW MIRRORS

INTERIOR
Ÿ 120V OUTLET
Ÿ 1TOUCH UP/DOWN DR/PASS WIN
Ÿ AIR COND, MANUAL FRONT
Ÿ CLOTH SUN VISORS
Ÿ CLTH SEATS W/8-WAY PWR DRV
Ÿ OUTSIDE TEMP DISPLAY
Ÿ PARTICULATE AIR FILTER
Ÿ POWER LOCKS AND WINDOWS
Ÿ STEERING:TILT/TELESCOPE,

CRUISE & AUDIO CONTROLS
Ÿ UPPER GLOVEBOX STORAGE

FUNCTIONAL
Ÿ FORDPASS™ CONNECT 5GWI-FI

HOTSPOT TELEMATICS MODEM
Ÿ HILL START ASSIST
Ÿ MONO BEAM COIL SPRING FRT

SUSPENSION W/STAB BAR
Ÿ PRE-COLLISION ASSIST W/AEB
Ÿ REAR VIEW CAMERA
Ÿ REMOTE KEYLESS ENTRY
Ÿ SYNC®4

SAFETY/SECURITY
Ÿ ADVANCETRAC™ WITH RSC®
Ÿ AIRBAGS - SAFETY CANOPY®
Ÿ BELT-MINDER CHIME
Ÿ DRIVER/PASSENGER AIR BAGS
Ÿ SECURE PKG 1 YR INCLUDED
Ÿ SOS POST-CRASH ALERT SYS™

WARRANTY
Ÿ 3YR/36,000 BUMPER / BUMPER
Ÿ 5YR/60,000 POWERTRAIN
Ÿ 5YR/60,000 ROADSIDE ASSIST
Ÿ 5YR/100,000 DIESEL ENGINE
#14..
- 373 -


     




 ! "!#
 $ %&
!' $& (!& 

 !' )
*&& *+!
!' ,&- %# .
 "!#&  
!
 .& / !'
/ %!#
*
&& !'  + 
/

"&

*& 
/0
! 1
*&
& !'
 %&
*& '*'' !'23 "!# 

 .+& ) ( !' (&& (& )
!  ( 4
& 567 7 7 7 8 7 8 7 9 7 : 7 ; 7 7 7 9 7 : 7 : 8 77 (! <669 9 9= 9 8> 9 8? 9 99 9 8? 9 9; 9 9: 9 8: 9 := 9 8: 9: 977 ! 1  %#
! *!!&&
5? ? ? ? 9 ; 9 ? = ? @ ? ? ? ; ; : ; > ? ? 7 ?=   *  .+ * +! 66> ? ; > = A : A A > 9 = @ > @ A 7 ? 7 > > @ =@ %# ( 567 7 ; 9 9 7 > 7 9 7 : 7 9 7 7 7 8 9 ; 9 > A 79 1  & 5? ; 9 ? = ? : ; 8 ? A ? 9 ? 7 ; 8 ; A ; ? ? ?7 ,  () ! *& 
&
567 9 7 7 = 7 9 9 7 7 A 7 @ 7 7 7 9 9 : 7 > @ 79 .   $ ) )) /4

 (!& *+!&
66: : A> : ?7 : ?7 : ?? : ?? : A9 : ?> : 97 : ?8 : ?A ;? :A7 " (& >
666 > ?9 > @A > :> > 8? > @8 77 A >;@ A >= A => > >7 @; >A@ # 

B

6 55<
C
D'5
6 <

* 
//*
"2 /"/*
E11

&
F %!# "!#& !' +& !'
E 
"!#F  
 
 $& '  
*& !' (-2 

  ( %&
- %.*& & /
&&
E& "!# & )"0&
'('F
*
&& !'
*#
 + 
"!#  ) ,&!& "!#!
  1/G . 
 ' (&& (& )
!  ( 4
& 567 7 9 7 9 7 ; 7 8 7 7 7 9 7 7 9 8 9 A 7 = 9 79 (! <668 9 A7 8 9: 9 == 9 :: 9 89 9 :7 9 9: 8 87 8 ;> 9 A? 9> 8A:
! 1  %#
! *!!&&
5? ? > ? > ? ; ? : ? 7 ? A ? ; ; @ ; @ ? = ; ?7   *  .+ * +! 66> > ? > A A A > 9 > 9 > A A 7 ? > A @ > 9 7 A7 %# ( 567 7 8 7 : 7 7 7 @ 7 8 9 9 9 > 9 = 9 : 7 = 7 9= 1  & 5? ? 7 ? ? ; ? ? ? ? 8 ? ? ; : 7 = ? A ? @ > ?9 ,  () ! *& 
&
567 7 7 7 7 7 7 7 @ 7 7 7 7 7 : 9 : 7 7 7 : 9 7: .   $ ) )) /4

 (!& *+!&
66: : A7 : ?9 : A7 : ?8 : A@ : ?> : A? : ;? : ?9 : ;= A9 :A9 " (& A
666 > =; > 79 A 89 > >8 > 9@ > 9: A 7@ ? => A AA > 7A ;> A?A # 

HD

C H

D'5
<
BB

IJKLMNO IPQRST UVVWT XNYJRZ VZRKPZN[NY\ ]YMO^_\`M[N_ aRNObNZT UVUIT UcUIT VZRKPZN[NY\ IMYMdNZ efghij kfgilmno pqenrsnn snntl uigfvj njvwxjiyigz og{|}~z UMZRO `MKb_RYT VZRKPZN[NY\ ]YMO^_\ (
& /+  && <-H &&  & ( 6B
H
< €‚ƒ„
†‡ ˆ‡‰Š‹ŒŠ €Ž ˆ‘ˆ’“”••”–’€’”“—’•”“’˜““˜ˆ™• #14.. - 374 -




 





  


  
  



 

 !"#


 $




%  
 !"#
&' "
 ( )$
!
 *+)
 ($
" 
+$


 ,'

%

 

 

-!
 (. (/$!

012 4 3 4 5 4 2 4 5 4 2 4 5 4 6 2 45  7115 5 82 2 89 2 5: 2 ;9 2 5; 2 6< 2 6< 22 25; . 
# 
'
" +$

=0: 9 ; : 6 : < 9 < 9 5 : ; : 2 : :9 )
#  +   +  >11: 9 ; 3 8 9 9 3 < < : 3 2 9 : 8 93 '
 
012 2 8 4 8 4 6 2 ; 4 8 4 ; 6 45 4; $ ) ) $

=04 9 8 9 6 9 : 9 ; 9 4 9 5 9 6 4 :8 ,
#  -! +


$


012 4 9 4 5 4 2 4 5 4 2 4 5 4 2 6 46 "
  
 - ?-- /$"!

$

+
@116 6 ;< 6 :3 6 39 6 48 6 93 6 2< 6 29 9< 6:4 %
 

9 >
111 3 9; < 99 3 53 < 94 3 66 3 <4 < 9: 64 33< (' ? AB>CD7=@ 0 EFGHIJK ELMNOP QRRSP TJUFNV RVNGLVJWJUX YUIKZ[X\IWJ[ ]NJK^JVP QRQEP Q_QEP RVNGLVJWJUX EIUI`JV abcdef gbcehijk lmajnojj ojjph qecbrf jfrstfeuecv kcwxyzv QIVNK \IG^[NUP RVNGLVJWJUX YUIKZ[X 
# @ "
  $
 
7{C 
  
(. |1D@C@7 }~€‚ƒ„
„†‡ˆ~‰‡ Š}‹ ŒŽ}‘’}
“’”}”’‘’}Œ•‘–”—ŽŽ•—˜ #14..
- 375 -
#14..
- 376 -
#14..
- 377 -
#14..
- 378 -
#14..
- 379 -
Date: 10-JUL-2025 Quote Number: QU30687-TU-V7 Unit: C4050 Sourcewell Contract Number: 110421-TER

CITY OF MODESTO
PO Box 642
Modesto , CA 95353
Baseline Price: $444,064.00
Grand Total Each: $444,064.00
This written description and attached specifications have been producted by Terex USA, LLC dba Terex Utilities and shall not be released, disclosed, nor duplicated without the written permission of Terex USA, LLC dba Terex Utilities.

Prices are subject to change until shipment. Applicable taxes and any applicable surcharges to be added. Taxes, shipping, handling and lead times are estimates and subject to change. Quoted prices are based on total package and subject to change if all items not purchased. All prices quoted are in U.S. dollars unless otherwise specified. Payment by cash or certified check only. Chassis price based off current pricing available at time of quote. Pricing is subject to change based on vehicle sourcing; final price to be confirmed prior to time of invoice. Chassis payment is due within 30 days of chassis receipt at our facility. Quote withdrawn after 60 days.

Please ensure the accuracy of the specifications and drawings you provide. Changes made after receipt of order may incur additional charges. If you are trading equipment in, you warrant that: You have good title to the trade-in; it is free of all liens and encumbrances; all information you have provided related to the trade-in is true and correct.

Terex purchased chassis through Terex preferred International Dealer will include at no additional cost a special tow package for 12 months/unlimited mileage to nearest International Dealership for a warrantable failure. Coverage limited to $550 per incident. For roadside assistance call 1-800-448-7825.

Terex-purchased chassis through Terex preferred Freightliner Dealer will include at no additional cost a special tow package for 12 months/unlimited mileage/KM extended towing coverage $550 cap FEX applies. For roadside assistance call 1-800-FTL-HELP.

Notes:
1) Delivery Terms are CPT - 2020 .
- Delivery to customer included.
2) Payment Terms are Net 30 Pending Approval .
3) Delivery days from receipt of order shall be 520-720 Days .

Buyer hereby agrees to purchase the products in this quotation, subject to acceptance by Seller. Buyer has read and agrees to Seller's Terms and Conditions of Sale.

Buyer agrees that it shall not export or re-export Terex equipment or parts, technology, information or warranty related services directly or with its knowledge indirectly into: (a) Russia, Belarus or the following regions of Ukraine: Crimea, Sevastopol, Donetsk People’s Republic (DNR), Luhansk People’s Republic (LNR), Kherson and Zaporizhzhia; or (b) Iran, Cuba, Syria or North Korea without first obtaining written approval from Seller.

Terex USA, LLC dba Terex Utilities
Accepted By: ____________________
Project Leader: Steve Fedt PO Number: ____________________ Quantity: ____________________
Account Manager: Matt Mayer Grand Total: ____________________ Date: ____________________

CUSTOMER ORDER ACKNOWLEDGEMENT
Terex USA, LLC dba Terex Utilities - 3140 15th Avenue SE - Watertown, SD 57201 - Phone: 605-882-4000

List price: $457,137.000
Sourcewell Price: $444,064.00
Discount: $13,073.00
#14..
- 380 -
No. Selling Price Options:
1 $5,489
2 $0
3 $0
4 $0
5 $0
6 $0
7 $0
8 $0
9 $0
10 $0
11 $0
12 $0
13 $0
Options
6/24/25
Quote(s) # QU30687
Customer Name
Customer PO #
Date
City of Modesto
Digger Derrick Load Display The Digger Derrick Load Display is an Engineering Quote Request (EQR) option for digger derricks to provide a digital readout of the load on the load line as an operator aid. The display is located at the control station. It does not display the capacity of the unit only the load being sensed by the load cell. The operator is responsible to follow the load chart for allowable load.

Description
Add Option
Add Option
Add Option
Add Option
Add Option
Add Option
Add Option
Add Option
Add Option
Add Option
Add Option
Add Option
Add Option
#14..
- 381 -
TEREX USA, LLC dba TEREX UTILITIES (“Seller”)

TERMS AND CONDITIONS OF SALE
U.S. and CANADA (except Quebec)

1. Terms and Conditions. The provision by Seller to Buyer of any Equipment or Parts (collectively referred to as “Products”) shall be exclusively governed by these Terms and Conditions of Sale (“Terms and Conditions”) and Seller’s sales order acknowledgement (collectively referred to as “Agreement”). This Agreement cancels and supersedes any and all terms and conditions previously issued by Seller and shall remain in effect unless and until superseded in writing by Seller. Acceptance of an order for Products by Seller shall be deemed to constitute a binding agreement between the parties pursuant to these Terms and Conditions and Buyer agrees that the order may not thereafter be countermanded or otherwise changed without the explicit prior written consent of Seller. No other terms and conditions shall apply, including the terms of any purchase order submitted to Seller by Buyer, whether or not objected to by Seller or whether or not such terms are inconsistent or conflict with or are in addition to these Terms and Conditions. These Terms and Conditions shall be deemed accepted by Buyer if any of the following occurs: (i) if confirmed by Buyer, (ii) if undisputed by Buyer within ten (10) days after receipt, or (iii) if Seller delivers Products to Buyer. Any communication construed as an offer by Seller and acceptance thereof is expressly limited to these Terms and Conditions. The Products are intended for industrial/commercial use by professional contractors and their trained employees and are not intended for use by consumers.

2.Terms of Payments. Payment for Products purchased by Buyer shall be made in accordance with any of the following terms, provided they have been previously arranged with and expressly approved by Seller in writing: (1) cash in advance; (2) confirmed, irrevocable letter of credit established in such amount and form and at such time and at such bank as shall be approved by Seller in respect of each order; (3) credit account purchases for which payment will be due and payable on net thirty (30) day terms, plus service and other charges applicable to past due amounts in accordance with Seller's written notices; or (4) other payment arrangements expressly approved by Seller in writing prior to or at the time the order is placed. If any Buyer credit account purchase is not paid in accordance with Seller's credit payment terms, in addition to any other remedies allowed in equity or by law, Seller may refuse to make further shipments without advance payment by Buyer. Nothing contained herein shall be construed as requiring Seller to sell any Products to Buyer on credit terms at any time, or prohibiting Seller from making any and all credit decisions which it, in its sole discretion, deems appropriate for Seller. Seller shall have the right, at its option, to charge interest on all amounts not paid when due and Buyer agrees to pay such interest calculated on a daily basis, from the date that payment was due until the Seller receives payment in full, at the rate of 1.5% per month or the maximum rate permitted by applicable law. Unless otherwise agreed in writing between Seller and Buyer, Seller may, in its sole discretion, increase or decrease the price of any Product, as Seller deems reasonably necessary, at any time prior to shipment and invoice Buyer for the same. If Buyer orders the chassis through Seller, the chassis payment is due upon receipt of chassis by Seller and the balance owed for the completed unit is due in accordance with agreed upon payment terms. When supplied by Buyer, Seller will inspect the chassis upon receipt and will notify Buyer of any chassis mounted components (including but not limited to fuel tanks, air tanks, battery boxes and exhaust systems) that require relocation. Buyer will be invoiced for such work upon completion of the finished Equipment.

3. Taxes and Duties. Unless otherwise noted, prices quoted do not include taxes or duties of any kind or nature. Buyer agrees that it will be responsible for filing all tax returns and paying applicable tax, duty, export preparation charge and export documentation charge resulting from the purchase of the Products. In addition, in the event any other similar tax is determined to apply to Buyer's purchase of the Products from Seller, Buyer agrees to indemnify and hold Seller harmless from and against any and all such other similar taxes, duties and fees. All prices quoted are U.S. dollars unless otherwise specified. The amount of any present or future taxes applicable to the sale, transfer, lease or use of the Products shall be paid by Buyer; or in lieu thereof, Buyer shall provide Seller with a tax exemption certificate satisfactory to the applicable taxing authority proving that no such tax is due and payable upon such sale, transfer, lease or use.

4. Title, Property, Risk and Delivery. Unless otherwise stated in writing, for all intra-continental United States shipments, all prices and delivery are FCA, point of manufacture (Incoterms 2020); for all other shipments, all prices and delivery are FAS, named port of shipment (Incoterms 2020). Title and all risk of loss or damage to Products shall pass to Buyer upon delivery, as per Incoterms 2020.

Any claims for loss, damage or delay in transit must be entered and prosecuted by the Buyer directly with the carrier, who is hereby declared to be the agent of the Buyer. Seller shall not be liable for any delay in performance of this agreement or delivery of the Products, or for any damages suffered by Buyer by reason of delay, when the delay is caused, directly or indirectly, by a force majeure event described in Section 20 herein or any other cause beyond Seller's control. Claims for shortages in shipments shall be deemed waived and released by Buyer unless made in writing within five (5) days after Buyer's receipt of shipment. Seller's responsibility for shipment shall cease upon delivery of the Products to the place of shipment, and all claims occurring thereafter shall be made to or against the carrier by Buyer. Delivery shall generally be 240 to 270 days after receipt by Seller of a signed Order, provided that, where applicable: (1) Seller receives the chassis a minimum of 90 days prior to scheduled delivery, (2) drawings are timely sent by Buyer and the approved drawings are returned to Seller by Buyer by the requested date, (3) all vendor-supplied components and Buyer-supplied accessories are received by Seller by the date necessary to comply with scheduled delivery. Seller shall not be liable for any delay in performance of this agreement or delivery of the Products, or for any damages suffered by Buyer by reason of delay, when the delay is caused, directly or indirectly, by a force majeure event described in Section 20 herein or any other cause beyond Seller's control. Claims for shortages in shipments shall be deemed waived and released by Buyer unless made in writing within fifteen (15) days after Buyer's receipt of shipment. Seller's responsibility for shipment shall cease upon delivery of the Parts and or Equipment to the place of shipment, and all claims occurring thereafter shall be made to or against the carrier by Buyer.

5.Delays Caused By Buyer. In the event of a delay in shipment or delivery due to delay by Buyer in furnishing delivery instructions, arranging a method of payment satisfactory to Seller, submitting valid import permits or licenses, or any other delay caused by Buyer or at Buyer’s request, if the Products are not shipped or delivered within five (5) days from the first date they are ready to be shipped or 2 - Terex USA, LLC dba Terex Utilities, Terms and Conditions of Sale, U.S. and Canada (except Quebec), Rev. 1 June 2023 #14..
- 382 -
delivered, then Seller shall be entitled to charge, as compensation, any additional costs incurred related to such delay. If the Products are not shipped or delivered by the date which is ten (10) days from the first date they are ready to be shipped or delivered, then Buyer’s order shall be deemed cancelled and Seller may, in its sole discretion, sell such Products to another buyer without any liability or responsibility to Buyer whatsoever. Seller shall have the right to keep payments on account already received from Buyer, and the difference between the sales price (increased by any other and all further costs, including but not limited to attorney’s fees and expenses, storage and other costs, and interest accrued thereon) and the price received from another buyer shall constitute a debt of Buyer and bear interest at the same rate set forth in Section 2 herein. Seller shall be entitled to claim for any further damages suffered as a consequence of Buyer's breach of its obligations hereunder.

6.Cancellation. Prior to delivery to place of shipment, a Product order may be cancelled only with Seller's prior consent and upon terms indemnifying Seller from all resulting losses and damages. Seller shall have the right to cancel and refuse to complete a Product order if any term and/or condition governing this agreement is not complied with by Buyer. In the event of cancellation by Seller, or in the event Seller consents to a request by Buyer to stop work or to cancel the whole or any part of any order, Buyer shall, in the event that Seller asks Buyer to do so, make reimbursement to Seller, as follows: (i) any and all work that can be completed within thirty (30) days from date of notification to stop work on account of cancellation shall be completed, shipped and paid in full; and (ii) for work in progress and any materials and supplies procured or for which definite commitments have been made by Seller in connection with the order, Buyer shall pay such sums as may be required to fully compensate Seller for actual costs incurred, plus fifteen percent (15%).

Buyer may not cancel any order after Seller's delivery to place of shipment. Orders for "Special" Equipment may not be cancelled after acceptance, except by Seller. Items of "Special" Equipment are those that differ from standard Seller specifications, have a limited market, or incorporate specifications that have been determined for a specific application. Determination of whether an item of Equipment is “Special” shall be made by Seller in its sole discretion.

7. Inspection and Acceptance. Buyer agrees that it shall inspect the Products immediately after receipt and promptly (in no event later than fifteen (15) days after receipt) notify Seller in writing of any non-conformity or defect. Buyer further agrees that failure to give such prompt notice or the commercial use of the Products shall constitute acceptance. Acceptance shall be final and Buyer waives the right to revoke acceptance for any reason, whether or not known by Buyer at the time of such acceptance. The giving of any such notice by Buyer shall automatically cause the provisions of Seller’s warranty to apply and govern the rights, obligations and liabilities of the parties with respect to such nonconformity or defect, provided under no circumstances shall rejection give rise to any liability of Seller for incidental or consequential damages or losses of any kind. Seller shall not be bound by any agent's, employee’s or any other representation, promise or inducement not set forth herein. Seller’s catalogues, technical circulars, price lists, illustrations, drawings and any other similar literature are for Buyer’s general guidance only and the particulars contained in them shall not constitute representations by Seller and Seller shall not be bound by them.

8. Warranty for New Products. Seller warrants its new Equipment and Parts manufactured and sold worldwide, to be free, under normal use and service, of any defects in material or workmanship for a period of twelve (12) months from the date of delivery(as limited by Seller’s Limited Product Warranty); provided that Buyer sends Seller written notice of the defect within thirty (30) days of its discovery and establishes that: (i) the Equipment has been operated and maintained in strict compliance with Seller’s operating and maintenance manuals ; and (ii) the defect did not result in any manner from the intentional or negligent action or inaction of Buyer, its agents or employees and (2) a new machine registration certificate has been completed, signed and delivered to the Seller within thirty (30) days of the Equipment’s “in-service” date. If requested by Seller, Buyer must return any defective Product to Seller's manufacturing facility, or other location designated by Seller, for inspection, and if Buyer cannot establish that conditions (i) and (ii) above have been met, then this warranty shall not cover the alleged defect. Failure to give written notice of defect within such period shall be a waiver of this warranty and any assistance rendered thereafter shall not extend or revive it. Accessories, assemblies and components included in the Products of Seller, which are not manufactured by Seller, are subject to the warranty of their respective manufacturers. This warranty shall not cover any item on which serial numbers have been altered, defaced or removed. Maintenance and wear parts are not covered by this warranty and are the sole maintenance responsibility of Buyer. This warranty is limited to the original purchaser or enduser if sold to a distributor, and is not assignable or otherwise transferable without written agreement of Seller. THIS WARRANTY IS

EXPRESSLY IN LIEU OF AND EXCLUDES ALL OTHER WARRANTIES, EXPRESS OR IMPLIED (INCLUDING THE WARRANTIES

OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE) AND ALL OTHER OBLIGATIONS OR LIABILITY ON SELLER'S PART. THERE ARE NO WARRANTIES THAT EXTEND BEYOND THE LIMITED WARRANTY CONTAINED HEREIN.

Seller neither assumes nor authorizes any other person to assume for Seller any other liability in connection with the sale of Seller's Products. This warranty shall not apply to any of Seller's Products or any part thereof which has been subject to misuse, alteration, abuse, negligence, accident, acts of God or sabotage. No action by either party shall operate to extend or revive this limited warranty without prior written consent of Seller

9. Warranty for Used Equipment. Used Equipment sold hereunder is sold on an “AS IS, WHERE IS, WITH ALL FAULTS” BASIS

WITH NO WARRANTIES WHATSOEVER, EXCEPT AS TO TITLE, UNLESS OTHERWISE SPECIFICALLY AGREED IN WRITING BY BUYER AND SELLER. SELLER ASSUMES NO RESPONSIBILITY FOR THE CONDITION, SAFETY, LEGAL COMPLIANCE, OR

USABILITY OF THE USED EQUIPMENT AND MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, WITH

RESPECT TO THE USED EQUIPMENT INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. SELLER MAKES NO REPRESENTATION OR WARRANTY REGARDING THE

CONDITION OF THE USED EQUIPMENT, NOR THE SUFFICIENCY OF ANY WARNINGS, INSTRUCTIONS OR MANUALS PROVIDED WITH THE USED EQUIPMENT. Seller recommends and Buyer acknowledges that Buyer should contact the original manufacturer to obtain all available information for the used Equipment, including but not limited to product manuals, warnings, safety bulletins, recall notices, and instructional placards before using the used Equipment. Seller shall not be responsible for providing such information. Buyer agrees not to assert any claims against Seller with respect to the used Equipment or its use. Buyer agrees that it shall inspect the used Equipment prior to issuance of a purchase order for such Equipment and acknowledges that it is not relying upon 3 - Terex USA, LLC dba Terex Utilities, Terms and Conditions of Sale, U.S. and Canada (except Quebec), Rev. 1 June 2023 #14..
- 383 -
any photographs, images, videos, representations, statements or other assertions made by Seller with respect to the used Equipment’s condition, but is relying upon its own knowledge and/or inspection of the used Equipment.

10. Remedies for Breach. IN THE EVENT OF ANY BREACH OF THE WARRANTY BY SELLER, THE PARTIES AGREE THAT SELLER'S LIABILITY SHALL BE LIMITED EXCLUSIVELY TO THE REMEDIES OF REPAIR OR REPLACEMENT (AT SELLER’S SOLE DISCRETION) OF ANY DEFECTIVE EQUIPMENT COVERED BY THE WARRANTY. In no event shall any repair or replacement of any defective equipment covered by the Seller’s warranty extend the length of the warranty beyond the period specified in Section 8 herein.

11. Limitation of Liability. NOTWITHSTANDING ANYTHING CONTAINED IN THIS AGREEMENT TO THE CONTRARY, Seller and its affiliates shall not be liable for, and specifically disclaim, any liability for any: (a) LOST PROFITS and/or business interruption (WHETHER DIRECT OR INDIRECT); and (b) indirect, incidental, consequential (whether direct or indirect) or other damages or losses of any kind whatsoever, including, without limitation, labor costs, lost profits, loss of use of other equipment, third party repairs, personal injury, emotional or mental distress, improper performance or work, penalties of any kind, loss of service of personnel, or failure of Products to comply with any federal, state, provincial or local laws, regardless of whether arising from a breach of contract, or warranty, legal claims or otherwise. Nothing in this Section shall operate to exclude Seller's liability for death or personal injury when directly related to Seller’s negligent act or omission.

12. Limitation of Actions. Any action for breach of this agreement must be commenced within one (1) year after the cause of action has accrued.

13. Specification Changes. In the event Seller incurs additional expense because of changes in specifications or drawings previously approved by Buyer, or in the event Seller is required to modify the ordered Equipment, perform any additional work or supply any additional Products, the additional expense shall be added to the purchase price. Buyer must submit to Seller a revised purchase order specifying any and all requested changes. Upon receipt of Buyer’s revised purchase order, Seller shall have the right, in its sole discretion, to accept or reject any changes in specifications requested by Buyer.

14. Trade-in Offers. Trade-in offers are subject to Seller’s inspection and acceptance of the equipment, which must have been maintained to U.S. Department of Transportation operating and safety standards. All accessories on the equipment, including without limitation jibs, winches, pintle hooks and trailer connectors, must remain with the equipment unless otherwise agreed by Seller and Buyer in writing. Seller reserves the right to cancel any trade-in offers or agreements if these conditions are not met, or if Buyer has misrepresented any information about the trade-in unit.

15. Insurance. Until the purchase price of any Products is paid in full, the Buyer shall provide and maintain insurance equal to the total value of the Equipment delivered hereunder against customary casualties and risks; including, but not limited to fire and explosion, and shall also insure against liability for accidents and injuries to the public or to employees, in the names of Seller and Buyer as their interest may appear, and in an amount satisfactory to Seller. If the Buyer fails to provide such insurance, it then becomes the Buyer's responsibility to notify the Seller so that the Seller may provide same; and the cost thereof shall be added to the contract price. All loss resulting from the failure to affect such insurance shall be assumed by the Buyer.

16. Patents, Copyrights, Trademarks, Confidentiality. No license or other rights under any patents, copyrights or trademarks owned or controlled by Seller or under which Seller is licensed are granted to Buyer or implied by the sale of Products hereunder. Buyer shall not identify as genuine products of Seller products purchased hereunder which Buyer has treated, modified or altered in any way, nor shall Buyer use Seller's trademarks to identify such products; provided, however, that Buyer may identify such products as utilizing, containing or having been manufactured from genuine products of Seller as treated, modified or altered by Buyer or Buyer's representative, upon prior written approval of Seller. All plans, photographs, designs, drawings, blueprints, manuals, specifications and other documents relating to the business of Seller ("Information") shall be and remain the exclusive property of Seller and shall be treated by Buyer as confidential information and not disclosed, given, loaned, exhibited, sold or transferred to any third party without Seller’s prior written approval; provided, however, that these restrictions shall not apply to Information that Buyer can demonstrate: (a) at the time of disclosure, is generally known to the public other than as a result of a breach of this Agreement by Buyer; or (b) is already in Buyer's possession at the time of disclosure by from a third party having a right to impart such Information.

17. Default and Seller's Remedies. In the event of default by Buyer, all unpaid sums and installments owed to Seller, shall, at Seller's sole option, become immediately due and payable without notice of any kind to Buyer. In addition to its right of acceleration, Seller may pursue any and all remedies allowed by law or in equity, including but not limited to any and all remedies available to it under the Delaware Uniform Commercial Code. In addition to the foregoing, and not in limitation thereof, Seller shall have the right to set off any credits or amounts owed to Buyer against any amounts owed by Buyer to Seller.

18. Indemnification by Buyer. Buyer hereby agrees to indemnify, release, defend and hold harmless Seller, its directors, officers, employees, agents, representatives, successors, and assigns against any and all suits, actions or proceedings at law or in equity (including the costs, expenses and reasonable attorney's fees incurred in connection with the defense of any such matter) and from any and all claims demands, losses, judgments, damages, costs, expenses or liabilities, to any person whatsoever (including Buyer's and Seller's employees or any third party), or damage to any property (including Buyer's property) arising out of or in any way connected with the performance or the furnishing of Products under this agreement, regardless of whether any act, omission, negligence (including any act, omission or negligence, relating to the manufacture, design, repair, erection, service or installation of or warnings made or lack thereof with respect to any Products furnished hereunder) of Seller, its directors, officers, employees, agents, representatives, 4 - Terex USA, LLC dba Terex Utilities, Terms and Conditions of Sale, U.S. and Canada (except Quebec), Rev. 1 June 2023 #14..
- 384 -
successors or assigns caused or contributed thereto. If Buyer fails to fulfill any of its obligations under this paragraph or this agreement, Buyer agrees to pay Seller all costs, expenses and attorney's fees incurred by Seller to establish or enforce Seller's rights. The provisions of this paragraph are in addition to any other rights or obligations set forth in this agreement.

19. Installation. Unless otherwise expressly agreed in writing, Buyer shall be solely responsible for the installation and erection of the Products purchased. Although Seller may in some cases provide a serviceman, data and drawings to aid Buyer with installation or startup, Seller assumes no responsibility for proper installation or support of any Products when installed and disclaims any express or implied warranties with respect to such installation and support. Notwithstanding whether data and drawings are provided or a serviceman aids in the installation, Buyer shall indemnify and hold Seller harmless and at Seller's request, defend Seller from all claims, demands or legal proceedings (including the costs, expenses and reasonable attorney's fees incurred in connection with the defense of any such matter) which may be made or brought against Seller in connection with damage or personal injury arising out of said installation or start-up.

20. Force Majeure. Seller shall not be liable to Buyer or be deemed to be in breach of this agreement by reason of any delay in performing, or any failure to perform, any of Seller’s obligations in relation to the Products if the delay or failure was due to any cause beyond the reasonable control of Seller including (without limitation) strike, lockout, riot, civil commotion, fire, accident, explosion, tempest, act of God, war, epidemic, stoppage of transport, terrorist activity, supply shortage or changes in government, governmental agency, laws, regulations or administrative practices.

21. Anti-Corruption; Export Controls; No Boycotts. Buyer agrees that it shall, and that any party retained or paid by the Buyer (“Retained Party”) shall, comply with all applicable laws including, but not limited to, laws prohibiting public corruption and commercial bribery. Buyer further agrees that it shall, and that any Retained Party shall, comply with all applicable export controls, economic sanctions, embargoes and regulations regarding the export, re-export, shipment, distribution and/or sale of Products, technology, information or warranty related services. Buyer further agrees that it shall not, and any Retained Party shall not, export or re-export Products, technology, information or warranty related services directly or with its knowledge indirectly into Iran, Sudan, Cuba, Syria, North Korea, the Crimea Region of the Ukraine or Russia without Buyer first obtaining written approval from Seller. Failure to comply strictly with this section and all applicable laws, regulations and licensing/approval requirements shall be grounds for immediate termination of this agreement by Seller. Notwithstanding anything to the contrary contained in any agreement between the Buyer and Seller or in any other document or agreement relating to the Products sold hereunder, Seller will not comply with requests related to the boycott of any country or other jurisdiction, except to the extent such boycott is required by or otherwise not inconsistent with United States law.

22. Telematics. If a telematics system is included with the Equipment, the telematics system is administered by a third party (“Teleservice Provider”) and collects a range of operational data about the Equipment including, but not limited to, usage, performance and reliability. Buyer consents to Seller’s obtaining such data from the Teleservice Provider for warranty, product improvement, marketing and customer support purposes and to Seller’s management and reporting of data (personal and non-personal) about the Equipment including, but not limited to, fuel consumption, up/down times, operation, defects, parts replacement, movement and location. Buyer shall, to the extent required by applicable law, obtain consent from its customers and/or any third party for Seller and/or third parties to provide teleservices and data to Buyer. Buyer shall comply with all applicable laws relating to the provision of teleservices. Buyer agrees to be bound by the current version of the Terex Telematics Terms of Use at https://www.terex.com/en/ products/telematics-tou.

23. Construction and Severability. These Terms and Conditions of Sale constitute the entire agreement between the parties regarding the subject matter hereof and shall be construed and enforced in accordance with the laws of Delaware. The United Nations Convention on Contracts for the International Sale of Goods (1980) (CISG) shall not apply. The invalidity or unenforceability of any provisions of this agreement shall not affect any other provision and this agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted.

24. Jurisdiction. The parties agree that the proper and exclusive forum and venue in all legal actions brought to enforce or construe any provisions herein shall be in United States District Court, District of Delaware or, if federal jurisdiction is lacking in such action, in New Castle County Superior Court in Delaware.

25. No Assignment. No rights arising under this agreement may be assigned by the Buyer unless expressly agreed to in writing by the Seller.

26. No Set-off. Buyer shall have no right to set-off any amounts it may owe Seller against amounts Seller may owe Buyer under this or any other agreement between Buyer and Seller.

27. Miscellaneous. Buyer represents that: (i) it is solvent and has the financial ability to pay for the Equipment and Parts purchased hereunder and (ii) it has all requisite right, power and authority to perform its obligations under this agreement.

Buyer’s Initials: ________________
5 - Terex USA, LLC dba Terex Utilities, Terms and Conditions of Sale, U.S. and Canada (except Quebec), Rev. 1 June 2023 #14..
- 385 -
TEREX USA, LLC dba TEREX UTILITIES (“Seller”),as to the equipment manufactured by each respective company, warrants its new equipment and parts manufactured and sold worldwide to be free, under normal use and service, of any defects in manufacture or materials for a period of 12 months from date of delivery to the first end user, but in no event longer than 18 months from date of shipment from the factory; provided that (1) Seller receives written notice of the defect within thirty (30) days of its discovery and Buyer establishes that (i) the equipment has been maintained and operated within the limits of rated and normal usage; and (ii) the defect did not result in any manner from the intentional or negligent action or inaction by Buyer, its agents or employees, and (2) a new machine registration certificate has been completed and received by Seller within thirty (30) days of the equipment’s “in-service” date. If requested by Seller, Buyer must return the defective equipment to Seller’s manufacturing facility, or other location designated by Seller, for inspection, and if Buyer cannot establish that conditions (1) (i) and (1) (ii) above have been met, then this warranty shall not cover the alleged defect.

Seller’s obligation and liability under this warranty is expressly limited to, at Seller’s sole option, repairing or replacing, with new or remanufactured parts or components, any part which appears to Seller upon inspection to have been defective in material or workmanship. Such parts shall be provided at no cost to the owner, FOB Seller’s parts facility (Incoterms 2010). If requested by Seller, components or parts for which a warranty claim is made shall be returned to Seller at a location designated by Seller. All components and parts replaced under this warranty become the property of Seller. This warranty shall be null and void if parts (including wear parts) or attachments other than genuine OEM Seller parts or approved attachments are used in or attached to the equipment.

Accessories, assemblies and components included in Seller’s equipment, which are not manufactured by Seller, are subject to the warranty of their respective manufacturers. Normal maintenance, adjustments, or maintenance/wear parts, are not covered by this warranty and are the sole maintenance responsibility of Buyer.

The following structural members have a lifetime parts only warranty for the original Buyer after date of shipment from Seller: sub frame, pedestal, turntable, and boom. Replacement of fiberglass jibs, seals, gaskets, hoses, and exterior coating is not covered under the lifetime warranty. The lifetime warranty requires an annual service inspection of the equipment by an authorized distributor of Seller. The sub frame, pedestal, turntable, and boom shall have a 5 year parts only warranty if the annual service inspection is performed by an approved entity other than an authorized distributor of Seller. All replacement parts must be genuine OEM Seller parts.

SELLER MAKES NO OTHER WARRANTY, EXPRESS OR IMPLIED, AND MAKES NO WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE,AS TO THE EQUIPMENT AND PARTS IT SUPPLIES.

No employee or representative of Seller is authorized to modify this warranty unless such modification is made in writing and signed by an authorized officer of Seller. Seller’s warranty is continuous for the stated period, and “stopping and restarting” such period is not permitted.

Seller’s obligation under this warranty shall not include duty, taxes, environmental fees, including without limitation, disposal or handling of tires, batteries, petrochemical items, or any other charges whatsoever. Seller shall not be liable for indirect, incidental, or consequential damages, even if advised of the possibility of such damages.

Improper maintenance, improper use, abuse, improper storage, operation beyond rated capacity, operation after discovery of defective or worn parts, accident, sabotage or alteration or repair of the equipment by persons not authorized by Seller shall render this warranty null and void. Seller reserves the right to inspect the installation of the product and review maintenance procedures to determine if the failure is covered under this warranty.

Parts Warranty: Seller warrants the parts ordered from the Seller to be free of defects in materials or workmanship for either (1) a period of 12 months after date of shipment from the factory, or (2) the balance of the remaining new equipment warranty, whichever occurs first. With respect to parts ordered from Seller for equipment for which the warranty has expired, Seller warrants such parts to be free of defects in materials or workmanship for a period of 12 months after date of shipment from the factory.

NO TRANSFERABILITY OF WARRANTY: This warranty is limited to the original purchaser or original end-user if sold to a distributor, and is not assignable or otherwise transferable without the written agreement of Seller.

ITEMS NOT COVERED BY WARRANTY
The following listed items, which are not exhaustive, are NOT covered under this warranty:

1. Items sold by any individual, corporation, partnership or any other organization or legal entity that is not authorized by Seller to distribute its equipment.

LIMITED PRODUCT WARRANTY

#14..
- 386 -

2. Inbound freight, duty and taxes for replacement components or outbound freight, duty, and taxes for any part requested as a warranty return.

3. Components which are not manufactured by Seller or its affiliates. Such components may include, but are not limited to, chassis, engines, batteries, tires, customer-supplied products, transmissions, air compressors, and axles.

4. Replacement of a complete assembly that is field repairable by the replacement or repair of defective part(s) within the assembly.

Seller has the option to repair or replace any defective part or assembly.

5. Wear parts and maintenance services including, but not limited to: lamps, lenses, seals, gaskets, hoses, filters, breathers, belts, nozzles, friction plates, glass, clutch and brake linings, wire rope, nuts and fittings, exterior coatings, proper tightening of bolts, adding or replacing of fluids, adjustments of any kind, services, inspections, diagnostic time, travel time and supplies such as hand cleaners, towels and lubricants.

6. Damage caused by carrier handling. Any such claim for damage should be filed immediately with the respective carrier.

7. Repairs, work required or parts exposed as the result of age, storage, weathering, lack of use, demonstration use, or use for transportation of corrosive chemicals.

8. Damage resulting to the equipment or parts should the owner or operator continue to operate the equipment after it has been noted that a failure has occurred.

9. Damage caused by, or labor or other costs related to, work performed by personnel not authorized by Seller to service the equipment.

IN NO EVENT SHALL SELLER, OR ANY AFFILIATE, SUBSIDIARY OR DIVISION THEREOF BE LIABLE FOR INDIRECT,

INCIDENTAL OR CONSEQUENTIAL DAMAGES OR LOSSES RESULTING FROM ANY BREACH OF WARRANTY,

REPRESENTATION OR CONDITION, EXPRESS OR IMPLIED, OR ANY TERMS OF THIS WARRANTY, OR ANY BREACH OF ANY

DUTY OR OBLIGATION IMPOSED BY STATUTE, CONTRACT, TORT, COMMON LAW OR OTHERWISE (WHETHER OR NOT

CAUSED BY THE NEGLIGENCE OF THE SELLER, ITS EMPLOYEES, AGENTS OR OTHERWISE), INCLUDING, WITHOUT

LIMITATION, LOSS OF USE, LOST PROFITS OR REVENUES, LABOR OR EMPLOYMENT COSTS, LOSS OF USE OF OTHER

EQUIPMENT, DOWNTIME OR HIRE CHARGES, THIRD PARTY REPAIRS, IMPROPER PERFORMANCE OR WORK, LOSS OF

SERVICE OF PERSONNEL, LOSS OF CONTRACTOR OPPORTUNITY AND PENALTIES OF ANY KIND, PERSONAL INJURY, EMOTIONAL OR MENTAL DISTRESS, OR FAILURE OF EQUIPMENT TO COMPLY WITH ANY APPLICABLE LAWS. The Seller’s liability to the Buyer shall not in any event exceed the purchase price of the equipment.

THIS WARRANTY IS EXPRESSLY IN LIEU OF AND EXCLUDES ALL OTHER WARRANTIES, REPRESENTATIONS AND

CONDITIONS, EXPRESS OR IMPLIED AND ALL OTHER STATUTORY, CONTRACTUAL, TORTIOUS AND COMMON LAW

OBLIGATIONS OR LIABILITY ON SELLER'S PART ARE HEREBY EXPRESSLY EXCLUDED TO THE MAXIMUM EXTENT PERMITTED BY LAW. THERE ARE NO WARRANTIES THAT EXTEND BEYOND THE LIMITED WARRANTY CONTAINED HEREIN.

Seller neither assumes nor authorizes any other person to assume for Seller any other liability in connection with the sale of Seller’s equipment. In the event that any provision of this warranty is held unenforceable for any reason, the remaining provisions shall remain in full force and effect.

LIMITED PRODUCT WARRANTY

#14..
- 387 -
Date: 10-JUL-2025 Quote Number: QU30687-TU- V7 Unit: C4050

CITY OF MODESTO
PO Box 642
Modesto , CA 95353
Qty. Description
UNIT
1 C4050,Center Mount,Turret Winch,Hydraulic 3rd,Transferable Pole Buddy One (1) new Terex Commander 4050 model hydraulic rotating digger derrick with a turntable winch.

Design Criteria:
* Design criteria is in accordance with current industry and engineering standards applicable and accepted for structural and hydraulic design.
* Meets ANSI/ASSE A10.31-2019.

Elevation:
* From +80 degrees above horizontal to -20 degrees below horizontal.

Dual Lift Cylinders:
* Double-acting cylinders with chrome plated rods and integral holding valves. Trapezoid mounting design offers greater boom support and stability providing less wear and longer life. Either cylinder can hold the rated lifting capacity of the derrick.

Steel Lower Boom:
* The boom is a fabricated box utilizing high-strength steel plates.

Steel Intermediate Boom:
* Fabricated box constructed of high strength steel. Powered by a double acting hydraulic cylinder equipped with integral holding valves on both extend and retract ports.

Fiberglass Hydraulic Upper Boom:
* Capable of lifting the hydraulic capacity of the derrick in all positions. * Tested and rated for line voltage up to and including 46 KV AC. * Tapered non-metallic rollers mounted at the end of the intermediate boom support the fiberglass boom under load minimizing scratches and abrasions. The sides of the fiberglass boom are supported and guided by non-metallic rollers to reduce tracking.

Continuous And Unrestricted Rotation:
* A hydraulic rotary manifold provides a rotating oil distribution system for continuous and unrestricted rotation.

Miscellaneous:
* Relief valves to protect the derrick circuits and digger-winch circuits. * Hydraulic hoses are equipped with permanent type hose fittings. * A custom load chart stating actual lifting capacity considering all final options, chassis, body, outriggers, and other fixed equipment with capacity based on completed unit stability is included. * A boom-angle indicator and decal are mounted on each side of the lower boom. * All metallic components of the complete digger derrick device are prime painted. * One complete paper manual and access to an electronic copy of the manual providing operational and maintenance procedures, and a replacement parts listing. * Warning decals provided with unit.

Turntable Winch Including Transferrable Pole Buddy Assembly:
* 15,000 lb. bare drum capacity worm gear winch equipped with hydraulic counterbalance valve mounted on the derrick turntable. Equipped with flanged pole buddy transferrable from intermediate boom to upper boom.

Bare Boom Lift Capacities:
* Boom Angle: All Booms Retracted
* Maximum Elevation 24600 lbs.

Terex USA, LLC dba Terex Utilities - 3140 15th Avenue SE - Watertown, SD 57201 - Phone: 605-882-4000

#14..
- 388 -
Date: 10-JUL-2025 Quote Number: QU30687-TU- V7 Unit: C4050 * 10 Ft. Radius 11000 lbs.

Work Zone Capacities:

Median Digging Radius 21.2 ft.

Digging Capacity at Median Radius 2410 lbs.

Lift Capacity at Median Radius 4232 lbs.

Sheave Height:
* With intermediate boom extended, 40.0 ft. at maximum elevation. * With upper boom extended, 50.4 ft. at maximum elevation. * Dimensions are based on a 40 chassis frame height.

Load Radius:
* 30.0 ft. from C/L of rotation, at 0 degree, intermediate boom extended. * 40.5 ft. from C/L of rotation, at 0 degree, upper boom extended. 1 Pedestal 54 - Cab Height To 68.5 Over Rear Axle
Pedestal:
* Square constructed pedestal has access holes for maintenance of hydraulic plumbing. 1 Radio Joystick Command Post, Rh, Tm, Tilt Pole Plummer (C4050) RH Open Front Command Post With Dual Joystick Pilot Operated Controls with Radio Remote Control:
* Controls have integral interlock switches and adjustable arm rests. * Right hand joystick operates all boom function of up/down and extensions. * Left hand joystick operates digger, winch and turntable rotation functions. * Control joysticks include electrical interlocks that activate a hydraulic dump valve that provides flow to main control valve.
* Red Emergency stop plunger.
* Start/Stop on control panel.
* Two Speed auger switch.
* Glycerin filled pressure gauge is provided to monitor system pressure. * Permanent type control decals are provided.
* Adjustable cushioned operator seat is provided as standard and includes side rails. * Hydraulic foot throttle.
* Includes a control and horn.

Radio Remote Control:
* Includes (1) waist harness, (2) rechargeable batteries, (1) battery charger, (1) receiver, (1) transmitter, and placards.

Remote Sensor Bracket:
* Bracket to be used with the Williams remote sensor. Installed to supply sensor to work with truck engine.

Operator LED light at controls at command post/console.

Pole Guide For Transferable Pole Buddy with Interlock:
* Hydraulic cylinders equipped with holding valves operate the tilt and open/close on pole guide arms.
* Pole guide hoses are contained in a chain type carrier, installed on the side of the boom. * Transfers from the end of the intermediate boom to the end of the upper boom and vice versa. * The pole guide is installed on the transferable pole buddy flange assembly. * Protects both the pole guide and the boom from accidental damage caused by extending the upper boom while the pole guide is on the intermediate boom and tilted downward. Includes actuating plunger and two poppet valves.
1 Control Shoulder Harness
Terex USA, LLC dba Terex Utilities - 3140 15th Avenue SE - Watertown, SD 57201 - Phone: 605-882-4000

#14..
- 389 -
Date: 10-JUL-2025 Quote Number: QU30687-TU- V7 Unit: C4050 Shoulder Harness for Radio Control.
1 Radio Remote Storage(Cab Or Compartment)
Remote Radio Controls Storage for inside of cab or body compartment. 1 Standard Pole Claws
Pole Claw Arms:
*Unique circular design of arms that handle poles up to 23 inch diameter. 1 Lml: Rotation, Boom And Boom Down
Load Moment Limiter (Hydraulic Overload Protection) for Boom and Rotation systems:
* An Operator aid to prevent damage to the derrick by stopping selected functions if an over load occurs. The functions necessary to eliminate the overload condition remain operational, to relieve the cause of overload.
* Disables boom down, boom extend, winch up, and digger dig when boom lift or rotation senses an overloaded condition.
* The system is fully automatic relative to the operation and re-set functions.

Pressure Gauge with Color Zone Ring for Load Moment Limiter:
* A indicator gauge which provides an indicator when approaching maximum capacity. 1 Worm Gear Rotation Install, Load Sensing
Worm Gear Rotation:
* Provided by worm gear drive through reversible hydraulic motor. Worm gear drive powers a special design long life hardened shear ball ball bearing rotation gear. 1 X-Boost For Joystick Controls Above Rotation
X-Boost Option:
*Optional capacity control system for increased lifting capability at higher boom angles to meet customer specifications for 10' capacities.
*Increases capacities an average of 17% on C4000 Series Digger Derrick. *Includes: Electric collector ring, wiring harness and XDPS component. 1 Customer Declined -Anti-2-Block
Customer Declined, Anti-Two Block.
* Purchaser is aware of OSHA Crane and Derrick standard, subpart CC for construction (1926.1416). 1 Digger,12000#,2-Speed 2-5/8 Hex,Eskridge76ba
12,000 ft-lb Two Speed Digger With Hydraulic Shift (ESK 76BA):
* Planetary gear drive powered by reversible hydraulic motor. * Telescopic trombone tube is provided to shift the two-speed digger hydraulically.

Terex USA, LLC dba Terex Utilities - 3140 15th Avenue SE - Watertown, SD 57201 - Phone: 605-882-4000