Even though staff are still working on the design for Davis Park, work on Coleman F.
Brown Park was able to proceed and began with staff seeking public input on the design of the play structure at the park. On April 11, 2025, via the City website, voting for the preferred design of the playgrounds at Coleman F. Brown Park was opened. Voting lasted until May 5, 2025, and a total of 581 votes were received.
Based on the voting and the comments received from the public, staff made minor adjustments to the design of the playground. Staff then prepared construction documents for the replacement of the playground at Coleman F. Brown Park.
DISCUSSION:
The project was advertised for bids on OpenGov on May 28, 2026. Bids were publicly opened on June 23, 2026, pursuant to City Charter Section 1307 and 11 bids were received. Eclipse Pro dba Jaycon of Elk Grove, CA, was determined to be the responsible bidder with the lowest responsive bid of $585,243. The bid tabulation is attached, and a summary of the responsive bids is below:
The bid analysis is:
Number of bids received 11
Number of bids within 10% of engineer’s estimate 7
Number of bids above the engineer’s estimate 7
Number of bids below the engineer’s estimate 4
Percent low bid is below the engineer’s estimate 15.64% Eclipse Pro dba Jaycon of Elk Grove, CA, was 15.64% below the engineer’s estimate.
The next lowest bid was 11.53% below the engineer’s estimate. Bidder competition and participation was evident as the City received 11 responsive bids.
Modesto Municipal Code Section 8-3.203 generally requires all purchases which meet or exceed $100,000 for material, equipment, or contractual services to be formally bid.
The award of contract for the construction of Coleman F. Brown Playground Replacement Project, to Eclipse Pro dba Jaycon of Elk Grove, CA, conforms to the Modesto Municipal Code because the City complied with the formal bid procedures and Eclipse Pro dba Jaycon of Elk Grove, CA, was the lowest responsive and responsible bidder.
The City’s “Change Order Approval Policy” enacted by Council Resolution No. 1994- 443 on July 19, 1994, revised on July 9, 2019, by Council Resolution No. 2019-326, and revised a second time on September 12, 2023, by Council Resolution No. 2023-405, established a contract change order authority of 10% for construction contracts up to $10,000,000. Staff is requesting the Engineering Services Director’s Authority to issue change orders be set at 10% ($58,525) of the construction contract amount. #14..
- 199 -
City Council, July 14, 2026
Award Construction Contract for the Coleman F. Brown Playground Replacement Project
While the contingency policy is utilized for each construction contract awarded by the City, it is not written into each contract, nor is it a guaranteed amount included in the final compensation to the contractor. Prior to bidding a project, staff works diligently to ensure that all projects and bid packages contain well-defined scopes of work and that all projects stay within budget.
FISCAL IMPACT:
Funding for this project is budgeted in Non-Capital Improvement Project (Non-CIP) account #101517 (23-24 Deferred Maintenance – Measure H). There is currently approximately $662,000 budgeted for this playground replacement. Additional funds, in the amount of $63,703, will be required to complete the project. Those funds will come from already allocated Measure H funding in CIP accounts that currently have tasks that are complete with remaining funds. No additional funding beyond what has already been allocated from Measure H is being requested at this time. The project’s revenue and expense budget are outlined below:
Funding Sources (Measure H)
Project 101517 - AU C Playground Replacements $ 662,000 Project 101517 (remaining funds from completed tasks) $ 20,000 Project 101518 (remaining funds from completed tasks) $ 23,703 Project 101605 (remaining funds from completed tasks) $ 20,000 Total Funding Sources $ 725,703
Estimated Construction Expenses
Construction $ 585,243
Construction Contingency (10%) $ 58,525
Construction Administration – City Staff (12%) $ 70,230 Design Support During Construction (2%) $ 11,705
Total Estimated Project Cost $ 725,703
COMMITTEE RECOMMENDATION:
On August 8, 2025, this project was one of several park construction projects presented to the Safety & Communities Committee for consideration to minimize the time between bidding and Council award. The Committee approved the item to be forwarded to Council for approval
CEQA/NEPA REQUIREMENTS:
City staff prepared a Notice of Exemption No. EA/PR&N 2024-01, and the project is categorically exempt from CEQA because it is a minor alteration to an existing facility involving a negligible or no expansion of use.
RECOMMENDED COUNCIL ACTION:
Staff Recommendations:
Resolution approving the Plans and Specifications for the Coleman F. Brown Playground Replacement Project, accepting the Bid and Awarding a Construction #14..
- 200 -
City Council, July 14, 2026
Award Construction Contract for the Coleman F. Brown Playground Replacement Project
Contract to Eclipse Pro dba Jaycon of Elk Grove, CA, in the amount of $585,243, authorizing $58,525, for contingency (if needed), for a total payment amount not to exceed $643,768, and authorizing the City Manager, or his designee, to execute the Agreement.
Resolution amending the Fiscal Year 2026-27 Non-Capital Improvement Program budget to fund Project #101517 (23-24 Deferred Maint - Measure H), Project #101518 (23-24 Prevent Maint – Measure H), and #101605 (Def. Maint – Realloc to Meas H), in an amount not to exceed $63,703, in transfers, revenue, and to budget expenditures to fund the project, and authorizing the City Manager, or his designee, to implement the provisions of this resolution.
Approved by:
Toby Wells, Director of Engineering
Services/City Engineer
Joseph P. Lopez, City Manager
Attachments:
1. Resolutions
2. Construction Contract – Eclipse Pro dba Jaycon
3. Financial Interest Disclosure Form - Eclipse Pro dba Jaycon
4. Bid Results
#14..
- 201 -
07/14/26/ESD/NHoux/Item XX 1 2026-XX
MODESTO CITY COUNCIL
RESOLUTION NO. 2026-XX
RESOLUTION APPROVING THE PLANS AND SPECIFICATIONS FOR THE COLEMAN F. BROWN PLAYGROUND REPLACEMENT PROJECT,
ACCEPTING THE BID AND AWARDING A CONSTRUCTION CONTRACT TO
ECLIPSE PRO DBA JAYCON OF ELK GROVE, CA, IN THE AMOUNT OF $585,243, AUTHORIZING $58,525, FOR CONTINGENCY (IF NEEDED), FOR A TOTAL PAYMENT AMOUNT NOT TO EXCEED $643,768, AND AUTHORIZING
THE CITY MANAGER, OR HIS DESIGNEE, TO EXECUTE THE AGREEMENT WHEREAS, with a significant amount of deferred maintenance in our park system, many park amenities are severely in need of replacement; and WHEREAS, Parks Planning and Development staff established a plan to systematically address the deferred maintenance and In June 2023, by Resolution 2023-266, Council approved the FY 2023-2024 budget, which included $6,100,000 of Measure H funding for deferred park maintenance; and WHEREAS, as part of the deferred park maintenance allocation, $2,520,000, was budgeted for the replacement of playground structures at eight (8) City parks: Aqueduct Park, City Gate Children’s Park, Lakewood Park, Mildred Perkins Park, Riverside Park, Orchard Park, Coleman F. Brown Park, and Davis Park; Staff have replaced the playground structures at six (6) of the eight (8) budgeted parks, with Coleman F. Brown Park and Davis Park remaining; and
WHEREAS, staff are still working on the design for Davis Park, work on Coleman F. Brown Park was able to proceed and began with staff seeking public input on the design of the play structure at the park; and WHEREAS, on April 11, 2025, via the City website, voting for the preferred design of the playgrounds at Coleman F. Brown Park was opened with #14..
- 202 -
07/14/26/ESD/NHoux/Item XX 2 2026-XX
voting lasting until May 5, 2025, and a total of 581 votes were received; and WHEREAS, based on the voting and the comments received from the public, staff made minor adjustments to the design of the playground and prepared construction documents for the replacement of the playground at Coleman F. Brown Park; and
WHEREAS, the project was advertised for bids on May 28, 2026; and WHEREAS, bids were publicly opened on June 23, 2026, pursuant to City Charter Section 1307, and 11 bids were received; and
WHEREAS, Eclipse Pro dba Jaycon of Elk Grove, CA, was determined to be the responsible bidder with the lowest responsive bid; and WHEREAS, Modesto Municipal Code Section 8-3.203 generally requires all purchases, which meet or exceed $100,000 for material, equipment, or contractual services to be formally bid; and
WHEREAS, the award of contract for the construction of the Coleman F.
Brown Playground Replacement Project, Eclipse Pro dba Jaycon of Elk Grove, CA, conforms to Modesto Municipal Code, 8-3.203; and
WHEREAS, staff is requesting the Engineering Services Director’s Authority to issue change orders of 10% ($58,525) of the construction contract amount; and
WHEREAS, staff recommends awarding the contract to Eclipse Pro dba Jaycon of Elk Grove, CA.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the plans and specifications for the Coleman F. #14..
- 203 -
07/14/26/ESD/NHoux/Item XX 3 2026-XX
Brown Playground Replacement Project, and awards a construction contract to Eclipse Pro dba Jaycon of Elk Grove, CA, in the amount of $585,243, plus $58,525 in contingency (if needed), for a total amount not to exceed $643,768.
BE IT FURTHER RESOLVED that the City Manager, or his designee, is hereby authorized to execute the contract, in a form approved by the City Attorney.
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 14th day of July 2026, 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
#14..
- 204 -
07/14/2026/ESD/NHoux/Item XX 1 2026-XX
MODESTO CITY COUNCIL
RESOLUTION NO. 2026-XX
RESOLUTION AMENDING THE FISCAL YEAR 2026-27 NON-CAPITAL IMPROVEMENT PROGRAM BUDGET TO FUND PROJECT #101517 (23-24 DEFERRED MAINT - MEASURE H), PROJECT #101518 (23-24 PREVENT MAINT – MEASURE H), AND #101605 (DEF. MAINT – REALLOC TO MEAS H), IN AN AMOUNT NOT TO EXCEED $63,703, IN TRANSFERS, REVENUE, AND
TO BUDGET EXPENDITURES TO FUND THE PROJECT, AND AUTHORIZING
THE CITY MANAGER, OR HIS DESIGNEE, TO IMPLEMENT THE PROVISIONS
OF THIS RESOLUTION
WHEREAS, the City plans to replace the existing playground structure at Coleman F. Brown Park; and
WHEREAS, Measure H funding of $63,731, must be allocated to fund a portion of the project; and
WHEREAS, the Fiscal Year 2026-2027 Non-Capital Improvement Budget must be amended to fund Project 101517 (24-25 Deferred Maint – Measure H), Project 101518 (23-24 Prevent Maint – Measure H), and Project 101605 (Def.
Maint – Realloc to Meas H) in a total amount of $63,731, to establish transfers, recognize revenue, and increase expenditures.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the amendments of the Fiscal Year 2026-2027 Non-Capital Improvement Program Budget to fund Project 101517 (24-25 Deferred Maint – Measure H), Project 101518 (23-24 Prevent Maint – Measure H), and Project 101605 (Def. Maint – Realloc to Meas H), in an amount not to exceed $63,731, in transfers, revenue and to budget expenditures to fund the project.
BE IT FURTHER RESOLVED that the City Manager, or his designee, is #14..
- 205 -
07/14/2026/ESD/NHoux/Item XX 2 2026-XX
hereby authorized to take the necessary steps to implement the provisions of this resolution.
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 14th day of July 2026, 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
#14..
- 206 -
-1- City of Modesto
Coleman F. Brown Playground Replacement Project
CONSTRUCTION CONTRACT
COLEMAN F. BROWN PLAYGROUND REPLACEMENT PROJECT
This Agreement, made and entered into in the City of Modesto, County of Stanislaus, State of California, this 14th day of July, 2026, by and between the City of Modesto, a municipal corporation of the State of California, hereinafter called City, and Eclipse Pro dba Jaycon, a California corporation, hereinafter called Contractor,
RECITALS:
WHEREAS, the City Manager of the City of Modesto, authorized the call for bids, approved the Plans and Specifications prepared under the direction of the Director of Engineering Services Department for the COLEMAN F. BROWN PLAYGROUND REPLACEMENT PROJECT and directed the City Clerk to advertise for sealed bids for doing said work and providing that bids be submitted on the 23rd day of June, 2026; and
WHEREAS, the City Clerk, thereafter duly and regularly caused a notice to be published in the manner and for the time prescribed by law; and
WHEREAS, Contractor, pursuant to the provisions of said notice duly filed a bid with the City Clerk, a true copy of which is now on file in the office of the City Clerk of the City of Modesto, and is hereby referred to and by this reference made a part hereof as fully as if set forth at length herein; and
WHEREAS, all bids received pursuant to said notice were opened and examined and publicly declared at the time specified in said advertisement for bids and at a regular meeting of the City Council held on the 14th day of July, 2026 by Resolution 2026-______ the Council found and declared the bid of Contractor to be the lowest responsive bid and thereupon awarded a Contract to Contractor to do the Work referred to in the aforementioned Plans and Specifications.
NOW, THEREFORE, the parties hereto mutually agree as follows:
1. SCOPE OF WORK
SCOPE OF WORK, hereinafter called the Work.
a. Contractor shall furnish all labor, materials and equipment necessary to complete the Work as specified in the Plans and Specifications entitled COLEMAN F.
BROWN PLAYGROUND REPLACEMENT PROJECT, City of Modesto,
Engineering Services Department, Project Number 2026-18, and in strict accordance with the conditions of the complete Contract Documents. All incidental Work not included in the Contract Documents or specified herein which is necessary to complete the Work so as to provide the system described, or shown, shall be furnished and installed as part of this Agreement at no additional cost to the City. The Work shall be complete and ready for service as described in the Contract Documents to the satisfaction of the Director of Engineering Services. #14..
- 207 -
-2- City of Modesto
Coleman F. Brown Playground Replacement Project
b. Contractor shall do and perform the Work contemplated hereby in a good and workmanlike manner under the direction of and to the satisfaction of the Director of Engineering Services of the City of Modesto.
c. Contractor shall do and perform the Work contemplated hereby and shall furnish all labor, materials, tools and equipment therefore at the prices herein specified to, wit:
CONTRACTOR’S BID
Item
No.
Item Description Unit of
Measure
Estimated
Quantity
Unit Price
(Figures)
Total Price
(Figures)
1. Mobilization / Demobilization
(NTE 5%) LS 1 $5,000.00 $5,000.00
2. Site Preparation (Clearing,
Grubbing, Disposal) SF 13,291 $1.89 $25,119.99
3. Tree Protection LS 1 $768.00 $768.00
4. Temporary Construction
Fencing LS 1 $5,200.00 $5,200.00
5. Storm Water Erosion and
Sediment Control Plan LS 1 $650.00 $650.00
6. Site Grading (Rough/Fine) SF 13,291 $0.57 $7,575.87
7. Demolition LS 1 $25,180.00 $25,180.00
8. 5” Concrete Pavement with
Base Rock SF 2,380 $11.59 $27,584.20
9. 8" Concrete Mow Band LF 271 $14.02 $3,799.42
10. 8" Deepened Curb at
Playground LF 346 $33.81 $11,698.26
11. Rollover Bollards EA 6 $291.66 $1,749.96
12. Playground Equipment LS 1 $242,981.00 $242,981.00
13. Playground Equipment
Installation LS 1 $88,304.00 $88,304.00
14. Playground Surfacing
Engineered Wood Fiber CY 262 $37.74 $9,887.88
15. Playground Ramp EA 1 $5,950.00 $5,950.00
16. Playground Drainage Sump EA 2 $1,925.00 $3,850.00
17. Certified Playground Safety
Inspection LS 1 $2,150.00 $2,150.00
18. Soil Preparation and
Amendments SF 3,556 $7.03 $24,998.68
#14..
- 208 -
-3- City of Modesto
Coleman F. Brown Playground Replacement Project
Item
No.
Item Description Unit of
Measure
Estimated
Quantity
Unit Price
(Figures)
Total Price
(Figures)
19. 1 Gallon Shrubs EA 135 $36.00 $4,860.00
20. 15 Gallon Trees EA 3 $195.00 $585.00
21. 24” Box Trees EA 4 $425.00 $1,700.00
22. 36” Box Trees EA 3 $890.00 $2,670.00
23. Bark Mulch SF 3,556 $5.90 $20,980.40
24. Root Barrier LF 70 $42.85 $2,999.50
25. Irrigation System Upgrades LS 1 $52,500.00 $52,500.00
26. Landscape Establishment and
Maintenance Period (60 Days) LS 1 $6,500.00 $6,500.00
TOTAL BASE BID $585,242.16
2. CONTRACT DOCUMENTS
The complete Agreement between the parties consists of the documents listed below, including any addenda to these documents. The documents are complementary and provide for a complete work; if a discrepancy exists, the governing rank of the documents is set forth, in descending order:
a. Executed and signed, written Agreement;
b. Section 00800 Amendments and Supplements to the General Provisions c. All other sections of the Project Specifications;
d. Project Plans;
e. City Standard Details; current edition
f. City Standard Specifications; current edition
g. Revised State Standard Specifications;
h. State Standard Specifications;
i. Revised State Standard Plans;
j. State Standard Plans; and
k. All required Bonds.
All documents specified above are intended to operate so that any component of the Work called for in one and not mentioned in any other, or vice versa, is to be executed the same as if mentioned in all of the documents. The listed documents comprise the Contract Documents. #14..
- 209 -
-4- City of Modesto
Coleman F. Brown Playground Replacement Project
3. COMMENCEMENT AND COMPLETION OF THE WORK
The Work contemplated herein shall be commenced on the date specified in the Notice to Proceed for this Agreement. Completion of the work shall comply with the Specification. The Notice to Proceed shall not be issued until the Director of Engineering Services receives and has on file:
a. Proofs of insurance (approved by City Risk Manager), b. Bonds (approved by the City Attorney),
c. City of Modesto Business License, and
d. Executed Agreement.
Contractor will not be held responsible for failure to complete the Work within the specified time if delay is due to matters beyond its reasonable control. Contractor shall make all good faith attempts to overcome or to minimize such matters, and to finish the Work in the shortest reasonable amount of time.
4. PAYMENT
Payment for the Work to be done under this Agreement shall be at the price set forth in Section 1 hereof, and in accordance with the Contract Documents, which are incorporated herein by this reference.
5. INDEMNITY
The Contractor shall hold the City, its agents, officers, employees, and volunteers, harmless from and save, defend and indemnify them against any and all claims, losses, liabilities, judgments or damages from every cause, including but not limited to injury to person or property or wrongful death, including reasonable costs and expenses of defense of any judicial or administrative action, arising directly or indirectly out of any negligent or intentional act or omission of Contractor, or its agents, officers, employees, or volunteers relating to or during the performance of its obligations under this Agreement. This provision does not apply to claims, loss, liability, damage or expense arising from (a) the sole negligence or willful misconduct of the City, or (b) the active negligence of the City.
Contractor's obligation to defend, indemnify, and hold the City, its agents, officers, and employees harmless under the provisions of this paragraph is not limited to or restricted by any requirement in this Agreement for Contractor to procure and maintain a policy of insurance.
6. INSURANCE
During the term of this Agreement, Contractor shall maintain in full force and effect at its own cost and expense the insurance coverage as set forth in Exhibit A, attached hereto and incorporated herein, and shall otherwise comply with the other provisions of Exhibit A. Contractor is responsible for uploading updated insurance documentation to the City’s “PINS Advantage” program.
#14..
- 210 -
-5- City of Modesto
Coleman F. Brown Playground Replacement Project
a. Subcontractors
Contractor shall require and verify that all subcontractors maintain insurance as required by Exhibit A for the duration of the project and through acceptance by City Council.
7. BONDS
The Contractor shall furnish City the following separate surety bonds:
a. Performance Bond. Within 5 business days after receipt of the Notice of Award and prior to commencement of Work, the Contractor shall furnish a separate surety bond in an amount equal to one hundred percent (100%) of the Agreement price, shall be for the faithful performance of the Agreement, shall be approved by City, and shall be secured from a surety or sureties satisfactory to City. b. Payment Bond. Within 5 business days after receipt of the Notice of Award and prior to commencement of Work, the Contractor shall furnish a separate surety bond in an amount at least equal to one hundred percent (100%) of the Agreement price as security for the payment of all persons for furnishing materials, provisions, or other supplies, or items, used in, upon, for, or about the performance of the Work contracted to be done; or for performing any work or labor thereon of any kind, and for the payment of amounts due under the Unemployment Insurance Code with respect to such work or labor in connection with this Agreement, and for the payment of a reasonable attorney's fee to be fixed by the court in case suit is brought upon the bond.
c. Warranty Bond. Prior to issuance of a Notice of Completion for the contracted work, Contractor shall file with the City a Warranty Bond or equivalent security in the amount of ten percent (10%) of the estimated cost of the contracted work to guaranty and warranty the contracted work for a period of one (1) year following City Council acceptance thereof against any defective work or labor done, or defective materials furnished.
8. COMPLIANCE WITH ALL LAWS
Contractor hereby agrees that it and all subcontractors, if any, in the performance of the work described, designated and shown upon the Contract Documents herein referred to, will comply with all federal, state, county and municipal laws, rules and regulations which may be applicable to the work herein contracted for, whether now in existence or hereafter adopted.
9. TERMINATION OF AGREEMENT
Termination by City for Default of Contractor
#14..
- 211 -
-6- City of Modesto
Coleman F. Brown Playground Replacement Project
Should Contractor default in the performance of this Agreement or materially breach any of its provisions, at its option, City may terminate this Agreement by giving written notification to Contractor. The termination date shall be the effective date of the notice. For the purposes of this section, material breach of this Agreement shall include, but not be limited to, any of the following: failure to perform required services or duties, willful destruction of City's property by Contractor, dishonesty or theft. Such termination shall be in accordance with the Contract Documents.
If this Agreement is terminated, Contractor shall cease all its work on the project as of the termination date and shall see to it that its employees, subcontractors and agents are notified of such termination and cease their work.
The Contractor understands and agrees that City may, in City's sole discretion, refuse to pay Contractor for that portion of Contractor's services which were performed by Contractor on the project prior to the termination date and which remain unacceptable and/or not useful to City as of the termination date.
Termination by City for Convenience
The City may terminate the Contractor's performance under the Agreement, either in whole or in part, at its own discretion or when conditions encountered during the Work make it impossible or impracticable to proceed, or when the City is prevented from proceeding with the Agreement by act of God, by law, or by official action of a public authority, or upon a determination that such termination is in the best interest and convenience of the City, or whenever the City is prohibited from completing the Work for any reason. The City shall provide no less than ten (10) days written notice of its intent to terminate the Agreement for convenience, and shall endeavor to provide the Contractor with consultation with the City prior to termination.
A. Upon receipt of a written Notice of Termination pursuant to this section, the Contractor shall:
1. Cease its work as directed in the Notice of Termination as of the termination date and see to it that its employees, subcontractors and agents are notified of such termination and act as specified in the Notice of Termination;
2. Terminate all orders and Subcontractors except as necessary to complete any portion of the Work that is not terminated;
3. If directed in writing by the City to do so, assign all right, title and interest in subcontracts and materials in progress to City, in which case the City will have the right at its discretion to settle, or pay any or all claims arising out of the termination of such subcontractors, but in no event shall recovery by any Contractor or subcontractor include lost profits for portions of the Work not completed or undertaken, including materials not delivered;
4. Deliver or otherwise make available to the City all data, drawings, specifications, reports, estimates, summaries and such other information and material as may have #14..
- 212 -
-7- City of Modesto
Coleman F. Brown Playground Replacement Project
been accumulated by the Contractor in performing the Work whether completed or in process;
5. Settle outstanding liabilities and claims, subject to the approval of City;
6. Complete performance of such part of the Work as has not been terminated;
7. Take such other actions as may be necessary, or as may be directed by the City for the protection and preservation of the Work and/or property related to the Work;
8. If City so requests, and at City's cost, Contractor shall provide sufficient oral or written status reports to make City reasonably aware of the status of Contractor's work on the project.
B. City will pay Contractor an amount based on the percentage of work completed in accordance with the Notice of Termination. The final payment to the Contractor after termination for convenience shall be limited to amounts due and owing under the Agreement at time of termination, including the following:
1. Any actual costs incurred by the Contractor for restocking charges;
2. The agreed upon price of protecting the Work in any manner, if any, as directed by the City;
3. The cost of settling and paying valid claims arising out of the termination of the Work such as subcontract agreements or contracts for materials;
4. The Agreement price allocable to the portion of the Work properly performed or goods supplied by the Contractor as of the date of termination, as determined in accordance with the Notice of Termination, reduced by any sums previously paid to the Contractor.
C. The City shall have the right to withhold any portion or the whole of the final payment under this provision in the event there are any outstanding Claims for compensation asserted either by the City against the Contractor or by any third party against the City or the Contractor which arise out of the Contractor's work.
Authorization to Terminate Agreement
Termination of the Agreement may be invoked by the City Manager, or his/her designee, subject to the right of the Contractor to appeal the City Manager, or his/her designee’s, decision to the City Council. The Contractor shall appeal by notifying the City Clerk in writing within ten (10) business days of receipt of notification from City to terminate the Agreement. In the event that termination of this Agreement is upheld by the City Council, any valid claims for delay shall be retroactive to the date of termination selected by the City Manager, or his/her designee. #14..
- 213 -
-8- City of Modesto
Coleman F. Brown Playground Replacement Project
10. NOTICES
Any notice, payment or instrument required or permitted by this Agreement to be given to either party shall be deemed to have been received when personally delivered, or one calendar week following deposit of the same in any United States Post Office, registered or certified mail, postage prepaid, addressed as follows:
CONTRACTOR: Eclipse Pro dba Jaycon
Attn: Mr. Jamal Khan, President
9255 Survey Rd, Unit 8
Elk Grove, CA 95624-9760
Phone: (209) 985-2664
CITY: City of Modesto
Director of Engineering Services
P.O. Box 642
Modesto, CA 95353
Phone (209) 577-5444
Fax (209) 577-4302
Each party may change its address for delivery of notice by delivering written notice of such change of address to the other party.
11. WORKFORCE REQUIREMENTS
Contractor included both a signed Local Hire Certification as well as a Skilled and Trained Workforce Certification with its bid, and such certifications are incorporated herein by reference. Contractor shall comply with all applicable requirements, including record keeping requirements, of Articles 7 and 8 of Chapter 3 of the Modesto Municipal Code.
12. EXECUTION OF AGREEMENT
The undersigned signatory(ies) for Contractor warrant(s) and represent(s) that he/she/they is/are legally competent to execute the Agreement and has/have full authority to execute this Agreement.
13. DISPUTE RESOLUTION
All claims, controversies, or disputes arising out of or relating to this Agreement, including its performance by either party, shall be finally resolved by arbitration in accordance with the Contract Documents.
14. MISCELLANEOUS
Time is of the essence of this Agreement.
#14..
- 214 -
-9- City of Modesto
Coleman F. Brown Playground Replacement Project
IN WITNESS WHEREOF, the City of Modesto, a municipal corporation, has authorized the execution of this Agreement in duplicate by its City Manager and attestation by its City Clerk under authority of Resolution No. 2026-______ adopted by the Council of the City of Modesto on the 14th day of July, 2026, and Contractor has caused this Agreement to be duly executed.
CITY OF MODESTO
a municipal corporation
Eclipse Pro dba Jaycon
a California corporation
By: ________________________________ By: ________________________________ JOSEPH P. LOPEZ, City Manager (Name & Title)
By: ________________________________
(Name & Title)
ATTEST:
(Seal)
By: ________________________________
DIANE NAYARES-PEREZ, CMC,
City Clerk
Federal ID# 84-2159557
APPROVED AS TO FORM:
By: ________________________________
JOSE M. SANCHEZ, City Attorney *Corporations – signature of two (2) officers required or one (1) officer plus corporate seal
Partnership – signature of a partner required
By: ________________________________ Sole Proprietorship – signature of proprietor required MATTHEW BRALEY, ARM-PE, Risk
Manager
Revised 11/25/2024
#14..
- 215 -
Exhibit A-1 City of Modesto
Coleman F. Brown Playground Replacement Project
Exhibit A:
Insurance Requirements for Construction Contracts
Contractor shall procure and maintain for the duration of the contract, and for 5 years thereafter, insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the work hereunder and the results of that work by the Contractor, their agents, representatives, employees, or subcontractors.
MINIMUM SCOPE AND LIMIT OF INSURANCE
Coverage shall be at least as broad as:
1. Commercial General Liability (CGL): Insurance Services Office Form CG 00 01 covering CGL on an “occurrence” basis, including products and completed operations, property damage, bodily injury and personal & advertising injury with limits no less than $5,000,000 per occurrence. If a general aggregate limit applies, either the general aggregate limit shall apply separately to this project/location (ISO CG 25 03 or 25 04) or the general aggregate limit shall be twice the required occurrence limit.
2. Automobile Liability: Insurance Services Office Form CA 0001 covering Code 1 (any auto), with limits no less than $5,000,000 per accident for bodily injury and property damage.
3. Workers’ Compensation: as required by the State of California, with Statutory Limits, and Employer’s Liability Insurance with limit of no less than $1,000,000 per accident for bodily injury or disease.
4. Builder’s Risk (Course of Construction) insurance, utilizing an “All Risk” (Special Perils) coverage form, with limits equal to the completed value of the project and no coinsurance penalty provisions, is not required.
5. Professional Liability, with limits no less than $2,000,000 per occurrence or claim (and $2,000,000 policy aggregate), is not required.
6. Contractors’ Pollution Legal Liability and/or Asbestos Legal Liability and/or Errors and Omissions insurance, with limits no less than $2,000,000 per occurrence or claim (and $2,000,000 policy aggregate), is required.
If the contractor maintains broader coverage and/or higher limits than the minimums shown above, the City requires and shall be entitled to the broader coverage and/or the higher limits maintained by the Contractor. Any available insurance proceeds in excess of the specified minimum limits of insurance and coverage shall be available to the City. #14..
- 216 -
Exhibit A-2 City of Modesto
Coleman F. Brown Playground Replacement Project
Umbrella or Excess Coverage
The Contractor may use Umbrella or Excess Policies to provide the liability limits as required in this agreement. This form of insurance will be acceptable provided that all of the Primary and Umbrella or Excess Policies shall provide all of the insurance coverages herein required, including, but not limited to, primary and non-contributory, additional insured, Self-Insured Retentions (SIRs), indemnity, and defense requirements. The Umbrella or Excess policies shall be provided on a true “following form” or broader coverage basis, with coverage at least as broad as provided on the underlying Commercial General Liability insurance. No insurance policies maintained by the Additional Insureds, whether primary or excess, and which also apply to a loss covered hereunder, shall be called upon to contribute to a loss until the Contractor’s primary and excess liability policies are exhausted.
The insurance policies are to contain, or be endorsed to contain, the following provisions:
Additional Insured Status
The City of Modesto, its officers, officials, employees, agents, and volunteers are to be covered as additional insureds on the CGL policy with respect to liability arising out of work or operations performed by or on behalf of the Contractor including materials, parts, or equipment furnished in connection with such work or operations. General liability coverage can be provided in the form of an endorsement to the Contractor’s insurance with coverage equal to ISO form CG 2010. For completed operations, a separate endorsement equal to ISO form CG 2037 is required.
Primary Coverage
The Additional Insured coverage under the Contractor’s policy shall be “primary and noncontributory” and will not seek contribution from the City’s insurance or self-insurance and shall be at least as broad as CG 20 01 04 13. The City of Modesto does not accept endorsements limiting the Contractor’s insurance coverage to the sole negligence of the Named Insured.
Builder’s Risk (Course of Construction) Insurance
Contractor may submit evidence of Builder’s Risk insurance in the form of Course of Construction coverage. Such coverage shall name the Entity as a loss payee as their interest may appear. If the project does not involve new or major reconstruction, at the option of the Entity, an Installation Floater may be acceptable. For such projects, a Property Installation Floater shall be obtained that provides for the improvement, remodel, modification, alteration, conversion or adjustment to existing buildings, structures, processes, machinery and equipment. The Property Installation Floater shall provide property damage coverage for any building, structure, machinery, or equipment damaged, impaired, broken, or destroyed during the performance of the Work, including during transit, installation, and testing at the Entity’s site. #14..
- 217 -
Exhibit A-3 City of Modesto
Coleman F. Brown Playground Replacement Project
Claims Made Policies
If any coverage required is written on a claims-made coverage form:
1. The retroactive date must be shown, and this date must be before the execution date of the contract or the beginning of contract work.
2. Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after completion of contract work.
3. If coverage is cancelled or non-renewed, and not replaced with another claims-made policy form with a retroactive date prior to the contract effective, or start of work date, the Contractor must purchase extended reporting period coverage for a minimum of five (5) years after completion of contract work.
4. A copy of the claims reporting requirements must be submitted to the Entity for review.
5. If the services involve lead-based paint or asbestos identification/remediation, the Contractors Pollution Liability policy shall not contain lead-based paint or asbestos exclusions. If the services involve mold identification/remediation, the Contractors Pollution Liability policy shall not contain a mold exclusion, and the definition of Pollution shall include microbial matter, including mold.
Notice of Cancellation
Each insurance policy required above shall provide that coverage shall not be canceled, except with notice to the City.
Waiver of Subrogation
Contractor hereby grants to City a waiver of any right to subrogation which any insurer of said Contractor may acquire against the City by virtue of the payment of any loss under such insurance. Contractor agrees to obtain any endorsement that may be necessary to affect this waiver of subrogation, but this provision applies regardless of whether or not the City has received a waiver of subrogation endorsement from the insurer.
Self-Insured Retentions
All Self-insured retentions must be disclosed to Risk Management for approval and shall not reduce the limits of liability. The City may require the Contractor to purchase coverage with a lower retention or provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention. Any and all deductibles and SIRs shall be the sole responsibility of Contractor or subcontractor who procured such insurance and shall not apply to the Indemnified Additional Insured Parties. #14..
- 218 -
Exhibit A-4 City of Modesto
Coleman F. Brown Playground Replacement Project
Acceptability of Insurers
Insurance is to be placed with insurers with a current A.M. Best’s rating of no less than A:VII, unless otherwise acceptable to the City.
Verification of Coverage
Contractor shall furnish the City with original certificates and amendatory endorsements or copies of the applicable policy language effecting coverage required by this clause and a copy of the Declarations and Endorsements Pages of the CGL and any Excess policies listing all policy endorsements. All certificates and endorsements are to be received and approved by the City’s Risk Management Division before work commences. However, failure to obtain the required documents prior to the work beginning shall not waive the Contractor’s obligation to provide them. The City reserves the right to require complete, certified copies of all required insurance policies, including endorsements required by these specifications, at any time. City reserves the right to obtain a full certified copy of any insurance policy and endorsements. Failure to exercise this right shall not constitute a waiver of right to exercise later.
Duration of Coverage
CGL & Excess liability policies for any construction related work, including, but not limited to, maintenance, service, or repair work, shall continue coverage for a minimum of 5 years for Completed Operations liability coverage. Such Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after completion of the contract of work.
Special Risks or Circumstances
City reserves the right to modify these requirements, including limits, based on the nature of the risk, prior experience, insurer, coverage, or other special circumstances.
Certificate Holder Address
Proper address for mailing certificates, endorsements and notices shall be:
City of Modesto
Attn: Risk Management
1010 10th Street
Modesto, CA 95354
#14..
- 219 -
#14..
- 220 -
#14..
- 221 -
Coleman F. Brown Playground Replacement Project
Bid Tabulation Wednesday, June 24, 2026
Project Title: Coleman F. Brown Playground Replacement Project Project ID #: 2026-18
Vault ID #: 19-D-0403
Bid Opening: 6/23/2026 at 11:00 AM Designer: Westwood Professional Basis of Award: Base Bid Design Manager: Joel Bueno
Project Description: Replace existing playground equipment; demolish existing play equipment, surfacing, concrete walkways, curbs, sloped walls, install new ADA walkways, new drainage improvements, new playground structures, ADA playground ramp, engineered wood fiber
Item # Item Description Units Quantity Unit Price Extension Apparent Low Bidder
Eclipse Pro dba Jaycon
Ph (209) 985-2664 9255 Survey Road, Unit 8, Elk Grove, CA 95624-9760 Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $5,000.00 $5,000.00
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $1.89 $25,119.99
3. Tree Protection LS 1 $768.00 $768.00
4. Temporary Construction Fencing LS 1 $5,200.00 $5,200.00
5. Storm Water Erosion and Sediment Control Plan LS 1 $650.00 $650.00
6. Site Grading (Rough/Fine) SF 13,291 $0.57 $7,575.87
7. Demolition LS 1 $25,180.00 $25,180.00
8. 5” Concrete Pavement with Base Rock SF 2,380 $11.59 $27,584.20
9. 8" Concrete Mow Band LF 271 $14.02 $3,799.42
10. 8" Deepened Curb at Playground LF 346 $33.81 $11,698.26
11. Rollover Bollards EA 6 $291.66 $1,749.96
12. Playground Equipment LS 1 $242,981.00 $242,981.00
13. Playground Equipment Installation LS 1 $88,304.00 $88,304.00
14. Playground Surfacing Engineered Wood Fiber CY 262 $37.74 $9,887.88
15. Playground Ramp EA 1 $5,950.00 $5,950.00
16. Playground Drainage Sump EA 2 $1,925.00 $3,850.00
17. Certified Playground Safety Inspection LS 1 $2,150.00 $2,150.00
18. Soil Preparation and Amendments SF 3,556 $7.03 $24,998.68
19. 1 Gallon Shrubs EA 135 $36.00 $4,860.00
20. 15 Gallon Trees EA 3 $195.00 $585.00
21. 24” Box Trees EA 4 $425.00 $1,700.00
22. 36” Box Trees EA 3 $890.00 $2,670.00
23. Bark Mulch SF 3,556 $5.90 $20,980.40
24. Root Barrier LF 70 $42.85 $2,999.50
25. Irrigation System Upgrades LS 1 $52,500.00 $52,500.00
26. Landscape Establishment and Maintenance LS 1 $6,500.00 $6,500.00 Period (60 Days)
Total: $585,242.16
Percent From Engineer's Estimate: -15.64%
#14..
- 222 -
Coleman F. Brown Playground Replacement Project
Item # Item Description Units Quantity Unit Price Extension Westside Landscape & Concrete, Inc.
Ph (209) 427-5778 27107 CA-33, Newman, CA 95360
Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $21,207.52 $21,207.52
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $1.08 $14,354.28
3. Tree Protection LS 1 $4,643.91 $4,643.91
4. Temporary Construction Fencing LS 1 $4,853.71 $4,853.71
5. Storm Water Erosion and Sediment Control Plan LS 1 $7,839.62 $7,839.62
6. Site Grading (Rough/Fine) SF 13,291 $0.83 $11,031.53
7. Demolition LS 1 $38,725.00 $38,725.00
8. 5” Concrete Pavement with Base Rock SF 2,380 $17.44 $41,507.20
9. 8" Concrete Mow Band LF 271 $73.76 $19,988.96
10. 8" Deepened Curb at Playground LF 346 $93.56 $32,371.76
11. Rollover Bollards EA 6 $1,514.10 $9,084.60
12. Playground Equipment LS 1 $269,979.16 $269,979.16
13. Playground Equipment Installation LS 1 $65,158.33 $65,158.33
14. Playground Surfacing Engineered Wood Fiber CY 262 $48.88 $12,806.56
15. Playground Ramp EA 1 $11,893.85 $11,893.85
16. Playground Drainage Sump EA 2 $2,000.00 $4,000.00
17. Certified Playground Safety Inspection LS 1 $3,000.00 $3,000.00
18. Soil Preparation and Amendments SF 3,556 $1.26 $4,480.56
19. 1 Gallon Shrubs EA 135 $21.86 $2,951.10
20. 15 Gallon Trees EA 3 $364.87 $1,094.61
21. 24” Box Trees EA 4 $612.43 $2,449.72
22. 36” Box Trees EA 3 $1,640.10 $4,920.30
23. Bark Mulch SF 3,556 $1.15 $4,089.40
24. Root Barrier LF 70 $37.34 $2,613.80
25. Irrigation System Upgrades LS 1 $10,526.23 $10,526.23
26. Landscape Establishment and Maintenance LS 1 $8,119.54 $8,119.54 Period (60 Days)
Total: $613,691.25
Percent From Engineer's Estimate: -11.53%
Stockbridge General Contracting Inc.
Ph (559) 292-7760 2972 Larkin Ave, Clovis, CA 93612
Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $33,000.00 $33,000.00
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $1.10 $14,620.10
3. Tree Protection LS 1 $1,000.00 $1,000.00
4. Temporary Construction Fencing LS 1 $6,000.00 $6,000.00
5. Storm Water Erosion and Sediment Control Plan LS 1 $8,300.00 $8,300.00
6. Site Grading (Rough/Fine) SF 13,291 $1.75 $23,259.25
7. Demolition LS 1 $62,000.00 $62,000.00
8. 5” Concrete Pavement with Base Rock SF 2,380 $17.75 $42,245.00
9. 8" Concrete Mow Band LF 271 $60.00 $16,260.00
10. 8" Deepened Curb at Playground LF 346 $78.00 $26,988.00
11. Rollover Bollards EA 6 $570.00 $3,420.00
12. Playground Equipment LS 1 $276,800.00 $276,800.00
13. Playground Equipment Installation LS 1 $65,700.00 $65,700.00 #14..
- 223 -
Coleman F. Brown Playground Replacement Project
Item # Item Description Units Quantity Unit Price Extension
14. Playground Surfacing Engineered Wood Fiber CY 262 $60.00 $15,720.00
15. Playground Ramp EA 1 $6,500.00 $6,500.00
16. Playground Drainage Sump EA 2 $1,100.00 $2,200.00
17. Certified Playground Safety Inspection LS 1 $2,000.00 $2,000.00
18. Soil Preparation and Amendments SF 3,556 $1.50 $5,334.00
19. 1 Gallon Shrubs EA 135 $27.00 $3,645.00
20. 15 Gallon Trees EA 3 $635.00 $1,905.00
21. 24” Box Trees EA 4 $680.00 $2,720.00
22. 36” Box Trees EA 3 $1,650.00 $4,950.00
23. Bark Mulch SF 3,556 $1.30 $4,622.80
24. Root Barrier LF 70 $25.00 $1,750.00
25. Irrigation System Upgrades LS 1 $27,000.00 $27,000.00
26. Landscape Establishment and Maintenance LS 1 $6,000.00 $6,000.00 ` Period (60 Days)
Total: $663,939.15
Percent From Engineer's Estimate: -4.29%
Odyssey Environmental Services, Inc.
Ph (209) 369-6197 5400 W. Highway 12, Lodi, CA 95242
Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $16,463.83 $16,463.83
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $0.29 $3,854.39
3. Tree Protection LS 1 $2,811.46 $2,811.46
4. Temporary Construction Fencing LS 1 $3,166.24 $3,166.24
5. Storm Water Erosion and Sediment Control Plan LS 1 $3,842.68 $3,842.68
6. Site Grading (Rough/Fine) SF 13,291 $1.06 $14,088.46
7. Demolition LS 1 $71,782.78 $71,782.78
8. 5” Concrete Pavement with Base Rock SF 2,380 $21.22 $50,503.60
9. 8" Concrete Mow Band LF 271 $72.85 $19,742.35
10. 8" Deepened Curb at Playground LF 346 $99.71 $34,499.66
11. Rollover Bollards EA 6 $612.96 $3,677.76
12. Playground Equipment LS 1 $289,794.84 $289,794.84
13. Playground Equipment Installation LS 1 $88,370.20 $88,370.20
14. Playground Surfacing Engineered Wood Fiber CY 262 $127.29 $33,349.98
15. Playground Ramp EA 1 $8,050.99 $8,050.99
16. Playground Drainage Sump EA 2 $1,823.40 $3,646.80
17. Certified Playground Safety Inspection LS 1 $3,450.00 $3,450.00
18. Soil Preparation and Amendments SF 3,556 $1.05 $3,733.80
19. 1 Gallon Shrubs EA 135 $17.01 $2,296.35
20. 15 Gallon Trees EA 3 $245.79 $737.37
21. 24” Box Trees EA 4 $526.01 $2,104.04
22. 36” Box Trees EA 3 $1,309.48 $3,928.44
23. Bark Mulch SF 3,556 $1.05 $3,733.80
24. Root Barrier LF 70 $13.56 $949.20
25. Irrigation System Upgrades LS 1 $13,960.62 $13,960.62
26. Landscape Establishment and Maintenance LS 1 $1,200.00 $1,200.00 Period (60 Days)
Total: $683,739.64
Percent From Engineer's Estimate: -1.44%
#14..
- 224 -
Coleman F. Brown Playground Replacement Project
Item # Item Description Units Quantity Unit Price Extension Grover Landscape Services Inc.
Ph (209) 545-4401 6224 Stoddard Rd, Modesto, CA 95356
Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $10,777.45 $10,777.45
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $2.02 $26,847.82
3. Tree Protection LS 1 $8,836.00 $8,836.00
4. Temporary Construction Fencing LS 1 $8,682.00 $8,682.00
5. Storm Water Erosion and Sediment Control Plan LS 1 $3,402.00 $3,402.00
6. Site Grading (Rough/Fine) SF 13,291 $2.15 $28,575.65
7. Demolition LS 1 $27,443.00 $27,443.00
8. 5” Concrete Pavement with Base Rock SF 2,380 $35.37 $84,180.60
9. 8" Concrete Mow Band LF 271 $87.31 $23,661.01
10. 8" Deepened Curb at Playground LF 346 $105.12 $36,371.52
11. Rollover Bollards EA 6 $496.65 $2,979.90
12. Playground Equipment LS 1 $286,565.60 $286,565.60
13. Playground Equipment Installation LS 1 $45,972.00 $45,972.00
14. Playground Surfacing Engineered Wood Fiber CY 262 $131.31 $34,403.22
15. Playground Ramp EA 1 $7,137.35 $7,137.35
16. Playground Drainage Sump EA 2 $2,839.00 $5,678.00
17. Certified Playground Safety Inspection LS 1 $1,725.00 $1,725.00
18. Soil Preparation and Amendments SF 3,556 $0.77 $2,738.12
19. 1 Gallon Shrubs EA 135 $19.03 $2,569.05
20. 15 Gallon Trees EA 3 $383.30 $1,149.90
21. 24” Box Trees EA 4 $1,210.30 $4,841.20
22. 36” Box Trees EA 3 $1,922.67 $5,768.01
23. Bark Mulch SF 3,556 $0.90 $3,200.40
24. Root Barrier LF 70 $21.03 $1,472.10
25. Irrigation System Upgrades LS 1 $34,844.10 $34,844.10
26. Landscape Establishment and Maintenance LS 1 $5,325.00 $5,325.00 Period (60 Days)
Total: $705,146.00
Percent From Engineer's Estimate: 1.65%
JPB Designs, Inc.
Ph (916) 549-6259 5650 Main Avenue, Suite #2, Orangevale, CA 95662 Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $35,000.00 $35,000.00
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $3.00 $39,873.00
3. Tree Protection LS 1 $5,000.00 $5,000.00
4. Temporary Construction Fencing LS 1 $10,000.00 $10,000.00
5. Storm Water Erosion and Sediment Control Plan LS 1 $8,000.00 $8,000.00
6. Site Grading (Rough/Fine) SF 13,291 $3.00 $39,873.00
7. Demolition LS 1 $15,000.00 $15,000.00
8. 5” Concrete Pavement with Base Rock SF 2,380 $20.00 $47,600.00
9. 8" Concrete Mow Band LF 271 $40.00 $10,840.00
10. 8" Deepened Curb at Playground LF 346 $40.00 $13,840.00
11. Rollover Bollards EA 6 $3,500.00 $21,000.00
12. Playground Equipment LS 1 $255,000.00 $255,000.00
13. Playground Equipment Installation LS 1 $100,000.00 $100,000.00 #14..
- 225 -
Coleman F. Brown Playground Replacement Project
Item # Item Description Units Quantity Unit Price Extension
14. Playground Surfacing Engineered Wood Fiber CY 262 $55.00 $14,410.00
15. Playground Ramp EA 1 $10,000.00 $10,000.00
16. Playground Drainage Sump EA 2 $9,000.00 $18,000.00
17. Certified Playground Safety Inspection LS 1 $4,000.00 $4,000.00
18. Soil Preparation and Amendments SF 3,556 $3.00 $10,668.00
19. 1 Gallon Shrubs EA 135 $65.00 $8,775.00
20. 15 Gallon Trees EA 3 $600.00 $1,800.00
21. 24” Box Trees EA 4 $800.00 $3,200.00
22. 36” Box Trees EA 3 $2,200.00 $6,600.00
23. Bark Mulch SF 3,556 $4.00 $14,224.00
24. Root Barrier LF 70 $50.00 $3,500.00
25. Irrigation System Upgrades LS 1 $26,000.00 $26,000.00
26. Landscape Establishment and Maintenance LS 1 $10,000.00 $10,000.00 Period (60 Days)
Total: $732,203.00
Percent From Engineer's Estimate: 5.55%
Martin Brothers Construction
Ph (916) 381-0911 8801 Folsom Blvd, Suite 260, Sacramento, CA 95826 Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $12,000.00 $12,000.00
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $2.38 $31,632.58
3. Tree Protection LS 1 $4,119.00 $4,119.00
4. Temporary Construction Fencing LS 1 $7,100.00 $7,100.00
5. Storm Water Erosion and Sediment Control Plan LS 1 $5,245.00 $5,245.00
6. Site Grading (Rough/Fine) SF 13,291 $1.69 $22,461.79
7. Demolition LS 1 $20,937.00 $20,937.00
8. 5” Concrete Pavement with Base Rock SF 2,380 $26.45 $62,951.00
9. 8" Concrete Mow Band LF 271 $44.50 $12,059.50
10. 8" Deepened Curb at Playground LF 346 $69.00 $23,874.00
11. Rollover Bollards EA 6 $726.00 $4,356.00
12. Playground Equipment LS 1 $342,931.00 $342,931.00
13. Playground Equipment Installation LS 1 $89,520.00 $89,520.00
14. Playground Surfacing Engineered Wood Fiber CY 262 $109.23 $28,618.26
15. Playground Ramp EA 1 $7,493.00 $7,493.00
16. Playground Drainage Sump EA 2 $4,380.00 $8,760.00
17. Certified Playground Safety Inspection LS 1 $2,179.00 $2,179.00
18. Soil Preparation and Amendments SF 3,556 $1.14 $4,053.84
19. 1 Gallon Shrubs EA 135 $25.00 $3,375.00
20. 15 Gallon Trees EA 3 $588.00 $1,764.00
21. 24” Box Trees EA 4 $629.00 $2,516.00
22. 36” Box Trees EA 3 $1,520.00 $4,560.00
23. Bark Mulch SF 3,556 $1.19 $4,231.64
24. Root Barrier LF 70 $22.60 $1,582.00
25. Irrigation System Upgrades LS 1 $25,018.00 $25,018.00
26. Landscape Establishment and Maintenance LS 1 $5,443.00 $5,443.00 Period (60 Days)
Total: $738,780.61
Percent From Engineer's Estimate: 6.50%
#14..
- 226 -
Coleman F. Brown Playground Replacement Project
Item # Item Description Units Quantity Unit Price Extension Taylor’s Backhoe Service Inc. dba TBS Contractors
Ph (209) 384-8424 1600 E. Gerard Avenue, Merced, CA 95341 Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $33,375.00 $33,375.00
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $0.50 $6,645.50
3. Tree Protection LS 1 $12,500.00 $12,500.00
4. Temporary Construction Fencing LS 1 $6,562.50 $6,562.50
5. Storm Water Erosion and Sediment Control Plan LS 1 $1,875.00 $1,875.00
6. Site Grading (Rough/Fine) SF 13,291 $2.88 $38,278.08
7. Demolition LS 1 $26,972.50 $26,972.50
8. 5” Concrete Pavement with Base Rock SF 2,380 $20.21 $48,099.80
9. 8" Concrete Mow Band LF 271 $72.75 $19,715.25
10. 8" Deepened Curb at Playground LF 346 $99.80 $34,530.80
11. Rollover Bollards EA 6 $911.46 $5,468.76
12. Playground Equipment LS 1 $312,500.00 $312,500.00
13. Playground Equipment Installation LS 1 $110,386.25 $110,386.25
14. Playground Surfacing Engineered Wood Fiber CY 262 $62.98 $16,500.76
15. Playground Ramp EA 1 $7,990.00 $7,990.00
16. Playground Drainage Sump EA 2 $4,745.00 $9,490.00
17. Certified Playground Safety Inspection LS 1 $1,906.25 $1,906.25
18. Soil Preparation and Amendments SF 3,556 $1.16 $4,124.96
19. 1 Gallon Shrubs EA 135 $32.41 $4,375.35
20. 15 Gallon Trees EA 3 $208.33 $624.99
21. 24” Box Trees EA 4 $500.00 $2,000.00
22. 36” Box Trees EA 3 $1,125.00 $3,375.00
23. Bark Mulch SF 3,556 $1.79 $6,365.24
24. Root Barrier LF 70 $57.14 $3,999.80
25. Irrigation System Upgrades LS 1 $33,750.00 $33,750.00
26. Landscape Establishment and Maintenance LS 1 $2,500.00 $2,500.00 Period (60 Days)
Total: $753,911.79
Percent From Engineer's Estimate: 8.68%
Marina Landscape, Inc.
Ph (714) 939-6600 744 N. Eckhoff Street, Orange, CA 92868 Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $31,020.00 $31,020.00
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $0.40 $5,316.40
3. Tree Protection LS 1 $9,620.00 $9,620.00
4. Temporary Construction Fencing LS 1 $15,250.00 $15,250.00
5. Storm Water Erosion and Sediment Control Plan LS 1 $1,870.00 $1,870.00
6. Site Grading (Rough/Fine) SF 13,291 $3.00 $39,873.00
7. Demolition LS 1 $84,220.00 $84,220.00
8. 5” Concrete Pavement with Base Rock SF 2,380 $16.00 $38,080.00
9. 8" Concrete Mow Band LF 271 $27.00 $7,317.00
10. 8" Deepened Curb at Playground LF 346 $51.00 $17,646.00
11. Rollover Bollards EA 6 $460.00 $2,760.00
12. Playground Equipment LS 1 $300,000.00 $300,000.00
13. Playground Equipment Installation LS 1 $109,050.00 $109,050.00 #14..
- 227 -
Coleman F. Brown Playground Replacement Project
Item # Item Description Units Quantity Unit Price Extension
14. Playground Surfacing Engineered Wood Fiber CY 262 $174.00 $45,588.00
15. Playground Ramp EA 1 $2,930.00 $2,930.00
16. Playground Drainage Sump EA 2 $1,230.00 $2,460.00
17. Certified Playground Safety Inspection LS 1 $2,660.00 $2,660.00
18. Soil Preparation and Amendments SF 3,556 $2.00 $7,112.00
19. 1 Gallon Shrubs EA 135 $10.00 $1,350.00
20. 15 Gallon Trees EA 3 $146.00 $438.00
21. 24” Box Trees EA 4 $368.00 $1,472.00
22. 36” Box Trees EA 3 $1,140.00 $3,420.00
23. Bark Mulch SF 3,556 $0.81 $2,880.36
24. Root Barrier LF 70 $9.00 $630.00
25. Irrigation System Upgrades LS 1 $21,210.00 $21,210.00
26. Landscape Establishment and Maintenance LS 1 $1,450.00 $1,450.00 Period (60 Days)
Total: $755,622.76
Percent From Engineer's Estimate: 8.92%
Zara Construction, Inc.
(650) 353-8485 2343 Donner Pass Ave, Sacramento, CA 95835 Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $28,000.00 $28,000.00
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $3.00 $39,873.00
3. Tree Protection LS 1 $8,000.00 $8,000.00
4. Temporary Construction Fencing LS 1 $10,000.00 $10,000.00
5. Storm Water Erosion and Sediment Control Plan LS 1 $8,000.00 $8,000.00
6. Site Grading (Rough/Fine) SF 13,291 $3.00 $39,873.00
7. Demolition LS 1 $18,000.00 $18,000.00
8. 5” Concrete Pavement with Base Rock SF 2,380 $24.00 $57,120.00
9. 8" Concrete Mow Band LF 271 $75.00 $20,325.00
10. 8" Deepened Curb at Playground LF 346 $72.00 $24,912.00
11. Rollover Bollards EA 6 $1,500.00 $9,000.00
12. Playground Equipment LS 1 $257,130.00 $257,130.00
13. Playground Equipment Installation LS 1 $93,500.00 $93,500.00
14. Playground Surfacing Engineered Wood Fiber CY 262 $150.00 $39,300.00
15. Playground Ramp EA 1 $8,000.00 $8,000.00
16. Playground Drainage Sump EA 2 $3,700.00 $7,400.00
17. Certified Playground Safety Inspection LS 1 $6,000.00 $6,000.00
18. Soil Preparation and Amendments SF 3,556 $3.50 $12,446.00
19. 1 Gallon Shrubs EA 135 $35.00 $4,725.00
20. 15 Gallon Trees EA 3 $150.00 $450.00
21. 24” Box Trees EA 4 $1,000.00 $4,000.00
22. 36” Box Trees EA 3 $2,000.00 $6,000.00
23. Bark Mulch SF 3,556 $3.50 $12,446.00
24. Root Barrier LF 70 $35.00 $2,450.00
25. Irrigation System Upgrades LS 1 $60,000.00 $60,000.00
26. Landscape Establishment and Maintenance LS 1 $12,000.00 $12,000.00 Period (60 Days)
Total: $788,950.00
Percent From Engineer's Estimate: 13.73%
#14..
- 228 -
Coleman F. Brown Playground Replacement Project
Item # Item Description Units Quantity Unit Price Extension Frontline General Engineering Construction, Inc.
Ph (510) 520-2464 4448 W. Pine Haven Drive, Tracy, CA 95304 Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $43,151.50 $43,151.50
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $2.40 $31,898.40
3. Tree Protection LS 1 $29,740.85 $29,740.85
4. Temporary Construction Fencing LS 1 $6,515.76 $6,515.76
5. Storm Water Erosion and Sediment Control Plan LS 1 $8,844.24 $8,844.24
6. Site Grading (Rough/Fine) SF 13,291 $0.97 $12,892.27
7. Demolition LS 1 $60,690.14 $60,690.14
8. 5” Concrete Pavement with Base Rock SF 2,380 $16.75 $39,865.00
9. 8" Concrete Mow Band LF 271 $60.03 $16,268.13
10. 8" Deepened Curb at Playground LF 346 $127.89 $44,249.94
11. Rollover Bollards EA 6 $1,347.43 $8,084.58
12. Playground Equipment LS 1 $332,842.85 $332,842.85
13. Playground Equipment Installation LS 1 $117,496.24 $117,496.24
14. Playground Surfacing Engineered Wood Fiber CY 262 $41.95 $10,990.90
15. Playground Ramp EA 1 $6,868.97 $6,868.97
16. Playground Drainage Sump EA 2 $3,758.95 $7,517.90
17. Certified Playground Safety Inspection LS 1 $2,795.00 $2,795.00
18. Soil Preparation and Amendments SF 3,556 $3.09 $10,988.04
19. 1 Gallon Shrubs EA 135 $57.71 $7,790.85
20. 15 Gallon Trees EA 3 $667.78 $2,003.34
21. 24” Box Trees EA 4 $759.86 $3,039.44
22. 36” Box Trees EA 3 $2,629.53 $7,888.59
23. Bark Mulch SF 3,556 $2.25 $8,001.00
24. Root Barrier LF 70 $45.92 $3,214.40
25. Irrigation System Upgrades LS 1 $37,269.97 $37,269.97
26. Landscape Establishment and Maintenance LS 1 $8,822.58 $8,822.58 Period (60 Days)
Total: $869,730.88
Percent From Engineer's Estimate: 25.37%
Engineer's Estimate
Base Bid
1. Mobilization / Demobilization (NTE 5%) LS 1 $51,385.94 $51,385.94
2. Site Preparation (Clearing, Grubbing, Disposal) SF 13,291 $0.30 $3,987.30
3. Tree Protection LS 1 $5,000.00 $5,000.00
4. Temporary Construction Fencing LS 1 $2,500.00 $2,500.00
5. Storm Water Erosion and Sediment Control Plan LS 1 $8,000.00 $8,000.00
6. Site Grading (Rough/Fine) SF 13,291 $0.55 $7,310.05
7. Demolition LS 1 $50,265.50 $50,265.50
8. 5” Concrete Pavement with Base Rock SF 2,380 $25.00 $59,500.00
9. 8" Concrete Mow Band LF 271 $35.00 $9,485.00
10. 8" Deepened Curb at Playground LF 346 $75.00 $25,950.00
11. Rollover Bollards EA 6 $800.00 $4,800.00
12. Playground Equipment LS 1 $292,396.69 $292,396.69
13. Playground Equipment Installation LS 1 $101,214.24 $101,214.24
14. Playground Surfacing Engineered Wood Fiber CY 262 $85.00 $22,270.00 #14..
- 229 -
Coleman F. Brown Playground Replacement Project
Item # Item Description Units Quantity Unit Price Extension
15. Playground Ramp EA 1 $2,500.00 $2,500.00
16. Playground Drainage Sump EA 2 $1,500.00 $3,000.00
17. Certified Playground Safety Inspection LS 1 $3,000.00 $3,000.00
18. Soil Preparation and Amendments SF 3,556 $1.25 $4,445.00
19. 1 Gallon Shrubs EA 135 $30.00 $4,050.00
20. 15 Gallon Trees EA 3 $225.00 $675.00
21. 24” Box Trees EA 4 $475.00 $1,900.00
22. 36” Box Trees EA 3 $1,200.00 $3,600.00
23. Bark Mulch SF 3,556 $1.50 $5,334.00
24. Root Barrier LF 70 $15.00 $1,050.00
25. Irrigation System Upgrades LS 1 $17,780.00 $17,780.00
26. Landscape Establishment and Maintenance LS 1 $2,311.40 $2,311.40 Period (60 Days)
Total: $693,710.12
#14..
- 230 -
CITY OF MODESTO
COUNCIL AGENDA REPORT
DATE OF MEETING:
July 14, 2026
Date: June 15, 2026
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: Monthly Investment Report – April 2026
CONTACT: Calogero Maniscalco, Senior Financial Analyst
[email protected], 209-577-5219
DESCRIPTION:
Consider accepting the Monthly Investment Report for April 2026. (Funding Source:
Various Funds)
STRATEGIC PLAN ELEMENT:
This recommended action supports the City’s 2025-2026 Strategic Plan Goal H:
Achieve Long-Term Financial Sustainability.
BACKGROUND:
The City’s Finance Department submits a monthly investment report to Council and the City Manager. Attached are the April investment reports (see attachment list below) generated by Public Financial Management, the City’s investment advisor. Investments in the portfolio (attachment 4) are for the City of Modesto, Modesto Public Financing Authority, Community Facilities Districts, Tuolumne River Regional Park, Successor Agency to the Redevelopment Agency, and the Modesto-Ceres Fire Protection Agency Joint Powers Authority.
DISCUSSION:
It is the function of the Finance Department to deposit and invest funds in accordance with sound treasury management and to safeguard the principal and maintain the liquidity needs of the City. The purpose of the Monthly Investment Report is to keep the City Council and City Manager informed of the City’s investment portfolio. As shown in #15..
- 231 -
City Council, July 14, 2026
Monthly Investment Report – April 2026
Attachment 2, on April 30, 2026, the City had a closing market value of $523,589,669 in its investment portfolio.
FISCAL IMPACT:
In April, the approximate yield of the City’s combined investments was 4.19% (see attachment 3) on a weighted average. For the portfolio of securities alone, the yield to maturity on cost was 4.26%. For comparative purposes, the yields (as of April 30, 2026) of other investments commonly used by public agencies are listed below:
Local Agency Investment Fund: 3.81%
1-Year U.S. Treasury Note: 3.79%
2-Year U.S. Treasury Note: 3.89%
The Portfolio maintains sufficient liquidity to meet the City's projected expenditure requirements for at least the next six months.
COMMITTEE RECOMMENDATION:
Because this item is being presented as informational only to share the monthly Investment Report and activity to Council and the public, it is not required to be presented to a committee.
CEQA/NEPA REQUIREMENTS:
This item does not constitute a “project” within the meaning of California Environmental Quality Act (CEQA) Guidelines Section 15378 and requires no environmental review.
RECOMMENDED COUNCIL ACTION:
Staff Recommendations:
Motion accepting the Monthly Investment Report for April 2026.
Approved by:
DeAnna Christensen, Director of Finance
Joseph P. Lopez, City Manager
Attachments:
1. Monthly Investment Report
2. Account Statement
3. Combined Yields
4. Portfolio Holdings and Earnings Projections
5. Cash with Fiscal Agent
#15..
- 232 -
PORTFOLIO HOLDINGS
Attachment 1
Percentages may not total to 100% due to rounding.
Investment Type No. of Investments Amount Invested
CAMP 1 $61,343,149.62
Federal Agency CMO 29 $82,931,782.53
U.S. Treasury 43 $199,026,345.17
Negotiable CD 1 $3,511,385.50
Corporate Note 46 $110,496,631.20
Asset -Backed 41 $65,148,796.62
Municipal 1 $1,131,578.61
Total Invested 162 $523,589,669.25
Sector Allocation
April 30, 2026 versus March 31, 2026
Sector April 30, 2026 March 31, 2026 Change in Allocation Permitted by Policy
U.S. Treasury 38.0% 40.8% -2.8% 100%
Federal Agency CMO 15.8% 16.9% -1.0% 100%
Negotiable CD 0.7% 0.7% 0.0% 30%
Corporate Note 21.1% 22.2% -1.1% 30%
Asset -Backed 12.4% 13.0% -0.6% 20%
Municipal 0.2% 0.0% 0.2% 100%
CAMP 11.7% 6.3% 5.4% 100%
* Total invested includes only the bolded numbers
* * Amount invested are market values excluding accrued interest Additional, detailed information regarding security types and investment activity may be found in Attachment 2 accompanying this memo . Moreover, the addendum data will confirm continued compliance with the investment policy as well as with California Government Code .
RECENT ACTIVITY & CORPORATE EXPOSURE
The Federal Open Market Committee (FOMC or Fed) met on April 29 and held the target range for the fed funds rate at 3.50 - 3.75%. Governor Stephen Miran dissented once again favoring a 25 basis point (bps) rate cut. In addition, three other voting members supported the rate decision but dissented against the “easing bias” in the policy statement. The combined four dissents were the most since 1992. The April meeting also likely marked the final meeting with Jerome Powell as Chair, although he intends to remain as a Fed Governor.
Yields remained in an elevated range as the conflict in the Middle East persisted and energy flows through the Strait of Hormuz remained severely restricted. Despite those tensions, risk assets rallied in April with credit spreads narrowing sharply while equity markets surged off their late March lows.
During the month, in the Long -Term Portfolio, we bought one U.S. Treasury security that matures in two years and one municipal bond that matures in five years. Additionally, we bought two asset -backed securities and two corporate notes. There was no activity in the Short -Term Portfolio. #15..
- 233 -
Long -Term Portfolio Total Return
April 30, 2026
1 Month Trailing
12 Months
Trailing 36
Months
Trailing 60
Months
Since
Inception 5
City of Modesto Investment Portfolio 1,2,3 0.19% 3.58% 4.27% 1.86% 2.30% Modesto Performance Benchmark 40.15% 3.00% 3.82% 1.48% 2.00% Average Portfolio Yields
April 30, 2026
Past
Month
Past 3
Months
Past
Year
Past 3
Years
Past 5
Years
City of Modesto Investment Portfolio 4.26% 4.26% 4.17% 3.38% 2.69% City of Modesto Short -Term Portfolio 3.97% 3.97% 4.04% 4.79% -
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 the month at 3.66%, 3.87%, and 4.37%, representing increases of -1 bps, +8 bps, and +5 bps, respectively. Investment -grade (IG) corporate bond spreads retraced much of the March widening, generating strong excess returns for the month. Spreads on asset -backed securities (ABS) widened marginally over the month, diverging from IG corporates. Despite this widening, ABS generated a slightly positive excess return for the month. The difference between ABS and corporate spreads now exceed their two -year average. Mortgage -backed securities (MBS) were mixed in April. Securities with 15 -year collateral underperformed while 30 -year collateral and agency commercial MBS posted strong excess returns for the month.
Both the portfolio and its benchmark returned positive performance in Apri l. The portfolio outperformed the benchmark by 4 basis points (0.04%). 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
$98.2
$11.9
$55.6
$115.0 $107.3
$135.6
$0.0
$25.0
$50.0
$75.0
$100.0
$125.0
$150.0
Under 6 Months 6-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years Millions
Maturity Distribution
April 30, 2026
#15..
- 234 -
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
0.33 %
Fiscal Year -to-Date Income Return
3.24 %
Prior 12 Months Income Return
3.84 %
#15..
- 235 -
Economic Summary
Consumer Price Index
Source: Bloomberg Finance L.P., as of March 2026 .
0%
2%
4%
6%
8%
10%
2022 2023 2024 2025 2026
Consumer Price Index
% Change YoY
-3.2%
0.5%
2.7% 3.0% 3.3% 3.4% 3.7% 4.1%
12.5%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
14%
Used Cars & Trucks
New Vehicles
Food
Shelter
CPI YoY
Apparel
Medical Care Services
Transportation Services
Energy
Key Consumer Price Index Components
% Change YoY
#15..
- 236 -
Source: Bureau of Labor Statistics and Bloomberg Finance L.P. Monthly change in nonfarm payrolls and unemployed workers as of March 2026. Congressional Budget Office January 2026 economic projections, Bureau of Labor Statistics. Bloomberg Finance L.P., as of March 2026. Data is seasonally adjusted .
Economic Summary
Labor Force Participation Rates and Changes
to Nonfarm Payrolls
228
64 78
87 53
9 155
33 134
237
-48
42 67
108
13 -20
64 -70
76 -140
41 -17
160
-133
178
-250
-150
-50
50 150
250
350
Mar-24
Jun-24
Sep-24
Dec-24
Mar-25
Jun-25
Sep-25
Dec-25
Mar-26
Thousands
Monthly Change In
Nonfarm Payrolls
58%
60%
62%
64%
66%
68%
2000 2005 2010 2015 2020 2025 2030
Labor Force Participation Rate
LFPR CBO Forecast Potential
The labor force participation rate
decreased to 61.9%.
#15..
- 237 -
Source: ICE BofA Indices via Bloomberg Finance L.P., MarketAxess and PFMAM as of 4/30/2026. Spreads on Agency, ABS, and MBS 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
Sector Yield Spreads
-0.2%
-0.1%
0.0%
0.1%
0.2%
0.3%
Apr-24 Oct-24 Apr-25 Oct-25 Apr-26
Federal Agency Yield Spread
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
Apr-24 Oct-24 Apr-25 Oct-25 Apr-26
1-5 Yr. AAA -A Corp
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
Apr-24 Oct-24 Apr-25 Oct-25 Apr-26
Asset -Backed Securities AAA Yield Spreads
#15..
- 238 -
U.S. Treasury Yields
Source: Bloomberg Finance L.P., as of 4/30/2026.
Economic Summary
3.00%
3.50%
4.00%
4.50%
5.00%
5.50%
3 M
1 Y
2 Y
3 Y
4 Y
5 Y
10 Y
30 Y
Maturity
April 30, 2026
March 31, 2026
December 31, 2025
#15..
- 239 -
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
#15..
- 240 -
CITY OF MODESTO - Combined Portfolio
ACCOUNT STATEMENT
For the Month Ending
April 30, 2026
Customer Service
PO Box 11813
Harrisburg, PA 17108-1813
Contents
Cover/Disclosures
Summary Statement
Individual Accounts
CITY OF MODESTO
ATTN: Accounts Payable
P.O. BOX 642
MODESTO, CA 95353
Client Management Team
Accounts included in Statement
CITY OF MODESTO
CITY OF MODESTO SHORT-TERM
Online Access https://www.pfmam.com Customer Service 1-717-232-2723 Monique Spyke
Managing Director
1 California Street Ste. 1000
San Francisco, CA 94111-5411
415-393-7270
[email protected]
#15..
- 241 -
For the Month Ending April 30, 2026
Account Statement
Important Disclosures
Important Disclosures
365 and dividing the result by 7. The yields quoted should not be considered a representation of the yield of the fund in the future, since the yield is not fixed.
Average maturity represents the average maturity of all securities and investments of a portfolio, determined by multiplying the par or principal value of each security or investment by its maturity (days or years), summing the products, and dividing the sum by the total principal value of the portfolio. The stated maturity date of mortgage backed or callable securities are used in this statement. However the actual maturity of these securities could vary depending on the level or prepayments on the underlying mortgages or whether a callable security has or is still able to be called.
Monthly distribution yield represents the net change in the value of one share (normally $1.00 per share) resulting from all dividends declared during the month by a fund expressed as a percentage of the value of one share at the beginning of the month. This resulting net change is then annualized by multiplying it by 365 and dividing it by the number of calendar days in the month.
YTM at Cost The yield to maturity at cost is the expected rate of return, based on the original cost, the annual interest receipts, maturity value and the time period from purchase date to maturity, stated as a percentage, on an annualized basis.
YTM at Market The yield to maturity at market is the rate of return, based on the current market value, the annual interest receipts, maturity value and the time period remaining until maturity, stated as a percentage, on an annualized basis.
Managed Account A portfolio of investments managed discretely by PFMAM according to the client’s specific investment policy and requirements. The investments are directly owned by the client and held by the client’s custodian.
Unsettled Trade A trade which has been executed however the final consummation of the security transaction and payment has not yet taken place.
Please review the detail pages of this statement carefully. If you think your statement is wrong, missing account information, or if you need more information about a transaction, please contact PFMAM within 60 days of receipt. If you have other concerns or questions regarding your account, or to request an updated copy of PFMAM's current disclosure statement, please contact a member of your client management team at PFMAM Service Operations at the address below.
PFM Asset Management
Attn: Service Operations
213 Market Street
Harrisburg, PA 17101
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE
This statement is for general information purposes only and is not intended to provide specific advice or recommendations. PFM Asset Management ("PFMAM") is a division of U.S. Bancorp Asset Management, Inc. ("USBAM"), a SEC-registered investment adviser. USBAM is direct subsidiary of U.S. Bank National Association ("U.S. Bank") and an indirect subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. PFMAM maintains a written disclosure statement of our background and business experience. If you would like to receive a copy of our current disclosure statement, please contact Service Operations at the address below.
Proxy Voting PFMAM does not normally receive proxies to vote on behalf of its clients.
However, it does on occasion receive consent requests. In the event a consent request is received the portfolio manager contacts the client and then proceeds according to their instructions. PFMAM’s Proxy Voting Policy is available upon request by contacting Service Operations at the address below.
Questions About an Account PFMAM’s monthly statement is intended to detail our investment advisory activity as well as the activity of any accounts held by clients in pools that are managed by PFMAM. The custodian bank maintains the control of assets and executes (i.e., settles) all investment transactions. The custodian statement is the official record of security and cash holdings and transactions. PFMAM recognizes that clients may use these reports to facilitate record keeping and that the custodian bank statement and the PFMAM statement should be reconciled and differences resolved.
Many custodians use a settlement date basis which may result in the need to reconcile due to a timing difference.
Account Control PFMAM does not have the authority to withdraw funds from or deposit funds to the custodian outside the scope of services provided by PFMAM. Our clients retain responsibility for their internal accounting policies; implementing and enforcing internal controls and generating ledger entries or otherwise recording transactions.
Market Value Generally, PFMAM’s market prices are derived from closing bid prices as of the last business day of the month as supplied by ICE Data Services. There may be differences in the values shown for investments due to accrued but uncollected income and the use of differing valuation sources and methods. Non-negotiable FDIC-insured bank certificates of deposit are priced at par. Although PFMAM believes the prices to be reliable, the values of the securities may not represent the prices at which the securities could have been bought or sold. Explanation of the valuation methods for a registered investment company or local government investment program is contained in the appropriate fund offering documentation or information statement.
Amortized Cost The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short term securities (those with less than one year to maturity at time of issuance) is amortized on a straightline basis. Such discount or premium with respect to longer term securities is amortized using the constant yield basis.
Tax Reporting Cost data and realized gains / losses are provided for informational purposes only. Please review for accuracy and consult your tax advisor to determine the tax consequences of your security transactions. PFMAM does not report such information to the IRS or other taxing authorities and is not responsible for the accuracy of such information that may be required to be reported to federal, state or other taxing authorities.
Financial Situation In order to better serve you, PFMAM should be promptly notified of any material change in your investment objective or financial situation.
Callable Securities Securities subject to redemption prior to maturity may be redeemed in whole or in part before maturity, which could affect the yield represented.
Portfolio The securities in this portfolio, including shares of mutual funds, are not guaranteed or otherwise protected by PFMAM, the FDIC (except for certain non-negotiable certificates of deposit) or any government agency. Investment in securities involves risks, including the possible loss of the amount invested. Actual settlement values, accrued interest, and amortized cost amounts may vary for securities subject to an adjustable interest rate or subject to principal paydowns. Any changes to the values shown may be reflected within the next monthly statement’s beginning values.
Rating Information provided for ratings is based upon a good faith inquiry of selected sources, but its accuracy and completeness cannot be guaranteed.
Shares of some local government investment programs and TERM funds are distributed by representatives of USBAM's affiliate, U.S. Bancorp Investments, Inc. which is registered with the SEC as a broker/dealer and is a member of the Financial Industry Regulatory Authority (“FINRA”) and the Municipal Securities Rulemaking Board (“MSRB”). You may reach the FINRA by calling the FINRA Hotline at 1-800-289-9999 or at the FINRA website address
https://www.finra.org/investors/investor-contacts. A brochure describing the FINRA Regulation Public Disclosure Program is also available from FINRA upon request.
Key Terms and Definitions
Dividends on local government investment program funds consist of interest earned, plus any discount ratably amortized to the date of maturity, plus all realized gains and losses on the sale of securities prior to maturity, less ratable amortization of any premium and all accrued expenses to the fund. Dividends are accrued daily and may be paid either monthly or quarterly. The monthly earnings on this statement represent the estimated dividend accrued for the month for any program that distributes earnings on a quarterly basis. There is no guarantee that the estimated amount will be paid on the actual distribution date.
Current Yield is the net change, exclusive of capital changes and income other than investment income, in the value of a hypothetical fund account with a balance of one share over the seven-day base period including the statement date, expressed as a percentage of the value of one share (normally $1.00 per share) at the beginning of the seven-day period. This resulting net change in account value is then annualized by multiplying it by
#15..
- 242 -
For the Month Ending April 30, 2026
Account Statement
Consolidated Summary Statement
CITY OF MODESTO - Combined Portfolio
Investment Allocation
Investment Type Closing Market Value Percent
Asset-Backed Security 65,148,796.62 12.44
Corporate Note 99,928,695.60 19.09
Bank Note 4,044,764.00 0.77
Certificate of Deposit 3,511,385.50 0.67
Federal Agency Commercial Mortgage-Backed Security 82,931,782.53 15.84 Municipal Bond / Note 1,131,578.61 0.22
Corporate Note 6,523,171.60 1.25
U.S. Treasury Bond / Note 199,026,345.17 38.00
CAMP Pool 61,343,149.62 11.72
Total $523,589,669.25 100.00%
Portfolio Summary
and Income
Closing
Portfolio Holdings Market Value
Cash Dividends
PFMAM Managed Account 1,167,522.05 462,246,519.63
CAMP Pool 0.00 61,343,149.62
Total $1,167,522.05 $523,589,669.25
Maturity Distribution (Fixed Income Holdings)
Portfolio Holdings Closing Market Value Percent
72,427,573.20
0.00 14,524,164.42
11,243,915.86
17,682,502.24
49,851,312.43
114,958,757.86
107,336,613.82
134,125,827.61
1,439,001.81
13.83 0.00
2.77 2.15
3.38 9.52
21.96 20.50
25.62 0.27
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 $523,589,669.25
958
100.00%
Weighted Average Days to Maturity
Sector Allocation
12.44%
ABS
19.09%
Corporate Note
0.77%
Bank Note
0.67%
Cert of Deposit
15.84%
Federal Agency
Commercial
Mortgage-Backed
Security
0.22%
Muni Bond / Note
1.25%
Priv Placement
Bond
38.00%
US TSY Bond / Note
11.72%
CAMP Pool
PFM Asset Management Summary Page 1
#15..
- 243 -
Managed Account Summary Statement For the Month Ending April 30, 2026 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)
$461,059,792.01
(848,001.39)
(9,463,979.00)
12,090,210.67
0.00 (591,502.66)
$462,246,519.63
1,097,718.59
(29,318.75)
99,122.21
$1,167,522.05
Total
461,931,903.10
3,242,229.44
9,553,402.13
848,001.39
1,008,295.46
(12,119,529.42)
(460,098,501.77)
(2,773,196.53)
Total Accrual Basis Earnings $1,592,603.80
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
0.00 9,553,402.13
1,008,295.46
848,001.39
(12,119,529.42)
0.00 0.00
Cash Balance
Closing Cash Balance $89,214.67
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 1 U.S. Bancorp Asset Management, Inc.
#15..
- 244 -
Portfolio Summary and Statistics For the Month Ending April 30, 2026 CITY OF MODESTO - Combined Portfolio
Account Summary
Description Par Value Market Value Percent
U.S. Treasury Bond / Note 200,522,000.00 199,026,345.17 43.06 Municipal Bond / Note 1,130,000.00 1,131,578.61 0.24
Federal Agency Commercial
Mortgage-Backed Security
82,152,323.71 82,931,782.53 17.94
Corporate Note 107,329,000.00 106,451,867.20 23.03
Certificate of Deposit 3,500,000.00 3,511,385.50 0.76
Bank Note 4,000,000.00 4,044,764.00 0.88
Asset-Backed Security 65,144,362.92 65,148,796.62 14.09 Managed Account Sub-Total 463,777,686.63 462,246,519.63 100.00% Accrued Interest 3,242,229.44
Total Portfolio 463,777,686.63 465,488,749.07
Unsettled Trades 0.00 0.00
Sector Allocation
14.09%
ABS
0.88%
Bank Note
0.76%
Cert of Deposit
21.62%
Corporate Note
17.94%
Federal Agency
Commercial
Mortgage-Backed
Security
0.24%
Muni Bond / Note
1.41%
Priv Placement
Bond
43.06%
US TSY Bond / Note
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years
7.97%
3.83%
10.78%
24.87%
23.22%
29.33%
0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 1085
4.24%
4.08%
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 2 U.S. Bancorp Asset Management, Inc.
#15..
- 245 -
Managed Account Issuer Summary For the Month Ending April 30, 2026 CITY OF MODESTO - Combined Portfolio
Credit Quality (S&P Ratings)
5.03%
A
6.91%
A+
1.26%
A0.76%
A-1
1.59%
AA
65.23%
AA+
4.14%
AA11.77%
AAA
3.31%
NR
Issuer Summary
Issuer of Holdings Percent
Market Value
Adobe Inc 2,914,801.50 0.63
Ally Auto Receivables Trust 858,549.18 0.19
Alphabet Inc 5,778,647.56 1.25
Amazon.com Inc 5,917,386.00 1.28
American Express Co 5,377,402.44 1.16
Apple Inc 6,101,828.28 1.32
BA Credit Card Trust 3,208,411.65 0.69
Bank of America Corp 8,668,518.16 1.88
Bank of New York Mellon Corp 6,160,163.30 1.33
BlackRock Inc 370,376.45 0.08
Capital One Financial Corp 3,504,702.46 0.76
Caterpillar Inc 3,180,932.41 0.69
Chase Auto Owner Trust 2,710,878.91 0.59
Cisco Systems Inc 172,805.85 0.04
Citigroup Inc 9,854,820.10 2.13
Cooperatieve Rabobank UA 3,511,385.50 0.76
Deere & Co 2,598,294.49 0.56
Depository Trust & Clearing Corp 6,523,171.60 1.41
Eli Lilly & Co 2,947,519.05 0.64
Federal Home Loan Mortgage Corp 79,730,086.76 17.25
Federal National Mortgage Association 3,201,695.77 0.69 Fifth Third Auto Trust 988,308.03 0.21
Ford Credit Auto Owner Trust 1,649,862.88 0.36
GM Financial Consumer Automobile Receiv 900,734.54 0.19 Goldman Sachs Group Inc 3,001,533.00 0.65
Home Depot Inc 3,550,471.10 0.77
Honda Auto Receivables Owner Trust 5,826,724.18 1.26
Hyundai Auto Receivables Trust 8,646,102.50 1.87
JPMorgan Chase & Co 15,532,402.46 3.36
Kenvue Inc 2,331,500.80 0.50
Kubota Credit Owner Trust 2,026,177.27 0.44
Microsoft Corp 2,985,885.00 0.65
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 3 U.S. Bancorp Asset Management, Inc.
#15..
- 246 -
Managed Account Issuer Summary For the Month Ending April 30, 2026 CITY OF MODESTO - Combined Portfolio
Issuer of Holdings Percent
Market Value
Morgan Stanley 6,022,822.00 1.30
National Rural Utilities Cooperative Fi 1,542,752.20 0.33 Novartis AG 5,452,655.65 1.18
PACCAR Inc 1,148,860.83 0.25
PepsiCo Inc 2,691,616.79 0.58
Salesforce Inc 3,256,331.00 0.70
State of Hawaii 1,131,578.61 0.24
State Street Corp 1,907,398.60 0.41
Target Corp 360,008.62 0.08
TotalEnergies SE 4,206,063.50 0.91
Toyota Auto Receivables Owner Trust 7,678,239.58 1.66
Toyota Motor Corp 2,864,358.00 0.62
United States Treasury 199,026,345.17 43.07
USAA Auto Owner Trust 1,704,908.49 0.37
Verizon Master Trust 3,602,642.10 0.78
Visa Inc 7,478,857.50 1.62
Walmart Inc 1,439,001.81 0.31
Total $462,246,519.63 100.00%
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 4 U.S. Bancorp Asset Management, Inc.
#15..
- 247 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 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 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 4.14 185,375.19 11,082,817.69 11,084,423.58
US TREASURY N/B
DTD 07/17/2023 4.500% 07/15/2026
91282CHM6 10,995,000.00 AA+ Aa1 07/30/25 07/31/25 11,037,090.23 4.09 144,878.87 11,004,206.19 11,012,778.92
US TREASURY N/B
DTD 09/15/2023 4.625% 09/15/2026
91282CHY0 11,207,000.00 AA+ Aa1 09/12/25 09/15/25 11,308,563.44 3.69 66,198.96 11,245,159.07 11,243,915.86
US TREASURY N/B
DTD 04/30/2020 0.500% 04/30/2027
912828ZN3 5,980,000.00 AA+ Aa1 08/03/22 08/05/22 5,344,625.00 2.92 81.25 5,846,236.84 5,789,387.50
US TREASURY N/B
DTD 06/30/2020 0.500% 06/30/2027
912828ZV5 5,445,000.00 AA+ Aa1 08/09/22 08/10/22 4,832,012.11 2.99 9,100.07 5,299,050.50 5,241,024.86
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 5,593.92 1,185,069.82 1,175,812.80
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 13,914.88 2,944,541.13 2,924,834.34
US TREASURY N/B
DTD 09/30/2022 4.125% 09/30/2027
91282CFM8 805,000.00 AA+ Aa1 11/01/22 11/03/22 799,748.63 4.27 2,812.55 803,484.96 807,798.99
US TREASURY N/B
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 915,000.00 AA+ Aa1 12/06/22 12/08/22 927,724.22 3.81 102.56 918,899.82 918,217.14
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 3.63 354.21 3,181,371.17 3,171,110.56
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 3.91 119.23 8,369,312.92 8,348,929.87
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 55,047.48 4,256,175.18 4,249,005.50
US TREASURY N/B
DTD 02/01/2021 0.750% 01/31/2028
91282CBJ9 115,000.00 AA+ Aa1 01/31/23 01/31/23 99,825.39 3.66 214.43 109,681.41 108,949.05
US TREASURY N/B
DTD 01/31/2023 3.500% 01/31/2028
91282CGH8 595,000.00 AA+ Aa1 05/16/23 05/18/23 594,535.16 3.52 5,177.49 594,826.93 591,118.82 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 5 U.S. Bancorp Asset Management, Inc.
#15..
- 248 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 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 02/28/2023 4.000% 02/29/2028
91282CGP0 1,245,000.00 AA+ Aa1 03/03/23 03/07/23 1,231,188.28 4.25 8,390.22 1,239,923.06 1,247,480.04
US TREASURY N/B
DTD 03/31/2021 1.250% 03/31/2028
91282CBS9 880,000.00 AA+ Aa1 05/08/23 05/09/23 791,965.63 3.49 931.69 845,534.64 837,444.08
US TREASURY N/B
DTD 04/15/2025 3.750% 04/15/2028
91282CMW8 1,220,000.00 AA+ Aa1 04/13/26 04/14/26 1,218,713.28 3.81 2,000.00 1,218,744.40 1,216,712.10
US TREASURY N/B
DTD 05/01/2023 3.500% 04/30/2028
91282CHA2 225,000.00 AA+ Aa1 05/03/23 05/04/23 226,028.32 3.40 21.40 225,411.78 223,303.73
US TREASURY N/B
DTD 05/15/2025 3.750% 05/15/2028
91282CND9 545,000.00 AA+ Aa1 01/21/26 01/22/26 546,639.26 3.61 9,428.35 546,453.56 543,488.72
US TREASURY N/B
DTD 11/15/2018 3.125% 11/15/2028
9128285M8 510,000.00 AA+ Aa1 01/21/26 01/22/26 503,027.34 3.64 7,352.38 503,674.25 500,417.61
US TREASURY N/B
DTD 07/01/2024 4.250% 06/30/2029
91282CKX8 1,795,000.00 AA+ Aa1 07/01/24 07/02/24 1,780,836.33 4.43 25,499.41 1,785,671.85 1,812,038.14
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 20,933.70 2,114,841.47 2,109,111.07
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 46,110.39 7,560,766.25 7,475,383.35
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 25,776.16 8,677,589.27 8,572,044.01
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 4.18 543.65 4,841,388.43 4,876,713.80
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 4.08 108,777.61 6,323,400.46 6,350,521.88
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 4.43 180,821.05 12,344,171.62 12,538,394.40
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 36,665.06 3,460,070.09 3,503,752.69 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 6 U.S. Bancorp Asset Management, Inc.
#15..
- 249 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 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 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 55,103.25 5,263,605.32 5,265,726.31
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 57,720.65 8,577,367.87 8,574,036.08
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 36,505.46 10,818,121.63 10,785,106.95
US TREASURY N/B
DTD 04/30/2025 3.875% 04/30/2030
91282CMZ1 4,690,000.00 AA+ Aa1 03/19/26 03/20/26 4,694,030.47 3.85 493.85 4,693,926.65 4,672,046.68
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 84,560.44 5,349,241.24 5,352,539.40
US TREASURY N/B
DTD 06/30/2025 3.875% 06/30/2030
91282CNK3 1,805,000.00 AA+ Aa1 07/01/25 07/01/25 1,810,429.10 3.81 23,378.99 1,809,596.37 1,797,243.92
US TREASURY N/B
DTD 07/31/2025 3.875% 07/31/2030
91282CNN7 3,780,000.00 AA+ Aa1 08/01/25 08/05/25 3,761,395.31 3.98 36,416.44 3,763,919.43 3,762,725.40
US TREASURY N/B
DTD 09/02/2025 3.625% 08/31/2030
91282CNX5 16,460,000.00 AA+ Aa1 09/02/25 09/03/25 16,372,556.25 3.74 100,526.77 16,383,274.53 16,212,458.06
US TREASURY N/B
DTD 09/30/2025 3.625% 09/30/2030
91282CPA3 1,225,000.00 AA+ Aa1 10/01/25 10/02/25 1,221,554.69 3.69 3,761.19 1,221,926.75 1,206,433.90
US TREASURY N/B
DTD 09/30/2025 3.625% 09/30/2030
91282CPA3 1,500,000.00 AA+ Aa1 10/30/25 10/31/25 1,493,554.69 3.72 4,605.53 1,494,163.03 1,477,266.00
US TREASURY N/B
DTD 12/01/2025 3.500% 11/30/2030
91282CPN5 7,075,000.00 AA+ Aa1 12/03/25 12/05/25 7,034,650.39 3.63 103,403.85 7,037,678.13 6,925,759.95
US TREASURY N/B
DTD 12/31/2025 3.625% 12/31/2030
91282CPR6 695,000.00 AA+ Aa1 01/02/26 01/05/26 691,606.44 3.73 8,421.12 691,807.81 683,624.94
US TREASURY N/B
DTD 02/02/2026 3.750% 01/31/2031
91282CPW5 3,845,000.00 AA+ Aa1 02/05/26 02/10/26 3,844,849.80 3.75 35,847.72 3,844,867.29 3,801,143.93
US TREASURY N/B
DTD 02/02/2026 3.750% 01/31/2031
91282CPW5 4,960,000.00 AA+ Aa1 02/04/26 02/05/26 4,944,693.75 3.82 46,243.09 4,945,366.82 4,903,426.24 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 7 U.S. Bancorp Asset Management, Inc.
#15..
- 250 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 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 03/02/2026 3.500% 02/28/2031
91282CQD6 5,250,000.00 AA+ Aa1 03/13/26 03/16/26 5,163,867.19 3.87 30,957.88 5,165,865.28 5,132,694.00 Security Type Sub-Total 200,522,000.00 197,584,141.72 3.85 1,590,168.39 199,589,202.91 199,026,345.17 Municipal Bond / Note
HAWAII ST-TXBL-GP (CALLABLE)
DTD 04/30/2026 4.212% 04/01/2031
419792S23 1,130,000.00 AA+ Aa2 04/16/26 04/30/26 1,130,000.00 4.21 132.21 1,130,000.00 1,131,578.61 Security Type Sub-Total 1,130,000.00 1,130,000.00 4.21 132.21 1,130,000.00 1,131,578.61 Federal Agency Commercial Mortgage-Backed Security
FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
3137BTUM1 2,330,061.84 AA+ Aa1 05/19/23 05/24/23 2,258,339.62 4.29 6,498.93 2,318,458.88 2,318,639.87 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 3,943,324.98 3,971,440.00 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 2,240,316.88 2,257,141.25 FHMS K066 A2
DTD 08/01/2017 3.117% 06/01/2027
3137F2LJ3 3,487,429.26 AA+ Aa1 08/17/23 08/22/23 3,261,291.27 4.97 9,058.60 3,419,735.02 3,453,929.01 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
3137HAMR4 3,197,088.11 AA+ Aa1 09/20/23 09/28/23 3,146,916.19 5.19 12,788.35 3,173,383.49 3,226,731.51 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
3137HAMG8 1,842,443.16 AA+ Aa1 09/07/23 09/14/23 1,814,889.41 5.01 7,139.47 1,829,463.41 1,855,098.90 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 2,736,756.32 AA+ Aa1 07/19/23 07/27/23 2,736,687.91 4.78 10,894.57 2,736,726.37 2,750,018.65 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 3,515,243.66 3,535,500.50 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
3136BQDE6 3,207,536.70 AA+ Aa1 07/18/23 07/31/23 3,153,158.93 4.58 11,199.65 3,183,166.72 3,201,695.77 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 8 U.S. Bancorp Asset Management, Inc.
#15..
- 251 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 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 KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 1,048,383.81 AA+ Aa1 09/19/23 09/28/23 1,048,378.56 5.27 4,605.90 1,048,381.51 1,056,455.31 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 3,771,847.45 3,828,534.20 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 3,806,825.85 3,888,203.55 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 2,840,824.41 2,926,252.16 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 3,776,297.38 3,843,274.40 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 1,462,725.73 1,491,072.61 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 2,121,702.41 2,152,601.63 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
3137HBCF9 1,782,624.52 AA+ Aa1 12/11/23 12/21/23 1,799,270.67 4.79 7,427.60 1,791,812.23 1,813,492.45 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 2,202,382.62 2,213,330.07 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 2,232,673.07 2,235,306.90 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 2,754,707.22 2,788,207.26 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 3,414,489.91 3,446,514.34 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 3,809,150.34 3,850,035.00 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 3,816,362.49 3,858,030.00 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 9 U.S. Bancorp Asset Management, Inc.
#15..
- 252 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 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 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 2,130,455.71 2,177,073.13 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 3,258,385.74 3,287,924.86 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 3,522,233.79 3,525,669.00 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 3,995,331.80 4,041,530.80 FHMS K557 A2
DTD 03/01/2026 3.936% 01/01/2031
3137HQSP7 1,985,000.00 AA+ Aa1 03/03/26 03/12/26 1,984,962.28 3.94 6,510.80 1,984,965.65 1,951,731.40 FHMS K558 A2
DTD 03/01/2026 4.130% 03/01/2031
3137HQSV4 2,000,000.00 AA+ Aa1 03/17/26 03/26/26 2,005,200.00 4.07 6,883.33 2,005,187.50 1,986,348.00 Security Type Sub-Total 82,152,323.71 81,639,354.37 4.80 314,904.85 82,106,562.22 82,931,782.53 Corporate Note
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 2,095.71 364,912.00 360,008.62
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 23,375.00 2,984,158.89 2,985,885.00
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 72,186.67 3,001,063.68 3,001,533.00
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 13,196.56 3,549,463.51 3,550,471.10
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 8,419.01 1,481,220.76 1,516,951.47
KENVUE INC (CALLABLE)
DTD 10/17/2023 5.050% 03/22/2028
49177JAF9 2,300,000.00 A A2 06/27/25 06/30/25 2,354,303.00 4.12 12,582.92 2,337,764.63 2,331,500.80
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 7,282.69 497,965.82 503,387.78 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 10 U.S. Bancorp Asset Management, Inc.
#15..
- 253 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 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 13,167.69 898,837.15 910,165.78
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 17,140.06 1,164,235.26 1,184,740.93
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 12,585.38 1,126,756.46 1,148,860.83
NATIONAL RURAL UTIL COOP (CALLABLE)
DTD 08/25/2025 4.150% 08/25/2028
63743HFZ0 1,550,000.00 NR A2 08/19/25 08/25/25 1,548,264.00 4.19 11,792.92 1,548,641.93 1,542,752.20
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 20,416.67 2,797,545.68 2,864,358.00
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 29,143.96 5,650,000.00 5,854,027.15
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 27,636.22 2,074,387.45 2,076,543.86
ALPHABET INC (CALLABLE)
DTD 02/13/2026 3.700% 02/15/2029
02079KBJ5 610,000.00 AA+ Aa2 02/09/26 02/13/26 607,785.70 3.83 4,890.17 607,938.04 603,075.28
ALPHABET INC (CALLABLE)
DTD 02/13/2026 3.700% 02/15/2029
02079KBJ5 655,000.00 AA+ Aa2 02/10/26 02/13/26 654,299.15 3.74 5,250.92 654,348.56 647,564.44
ALPHABET INC (CALLABLE)
DTD 02/13/2026 3.700% 02/15/2029
02079KBJ5 655,000.00 AA+ Aa2 02/10/26 02/13/26 654,351.55 3.74 5,250.92 654,396.66 647,564.44
ALPHABET INC (CALLABLE)
DTD 02/13/2026 3.700% 02/15/2029
02079KBJ5 3,925,000.00 AA+ Aa2 02/10/26 02/13/26 3,920,996.50 3.74 31,465.42 3,921,281.62 3,880,443.40
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 16,974.92 1,900,000.00 1,907,398.60
CATERPILLAR FINL SERVICE
DTD 02/24/2026 3.750% 02/23/2029
14913UBJ8 2,790,000.00 A A1 02/18/26 02/24/26 2,786,317.20 3.80 19,471.88 2,786,536.03 2,754,935.28
CISCO SYSTEMS INC (CALLABLE)
DTD 02/26/2024 4.850% 02/26/2029
17275RBR2 170,000.00 AA- A1 11/12/25 11/13/25 174,462.50 3.99 1,488.68 173,847.02 172,805.85 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 11 U.S. Bancorp Asset Management, Inc.
#15..
- 254 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Corporate Note
BLACKROCK FUNDING INC (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 2,239.68 364,603.04 370,376.45
SALESFORCE INC (CALLABLE)
DTD 03/13/2026 4.650% 03/15/2029
79466LAR5 3,250,000.00 A+ A2 03/11/26 03/13/26 3,249,285.00 4.66 20,150.00 3,249,317.43 3,256,331.00
DEPOSITORY TRUST COMPANY (CALLABLE)
DTD 03/27/2026 4.300% 03/27/2029
249672AC0 5,500,000.00 AA+ Aa1 04/06/26 04/07/26 5,505,115.00 4.27 22,336.11 5,505,009.79 5,497,101.50
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 4,662.00 1,296,038.16 1,312,927.98
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 5,688.00 1,578,555.57 1,601,873.52
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 3,901.43 2,718,535.46 2,721,386.70
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 25,155.00 1,933,003.73 1,951,544.25
ELI LILLY & CO (CALLABLE)
DTD 08/14/2024 4.200% 08/14/2029
532457CQ9 660,000.00 AA- Aa3 08/12/24 08/14/24 658,554.60 4.25 5,929.00 659,018.17 659,444.94
ELI LILLY & CO (CALLABLE)
DTD 08/14/2024 4.200% 08/14/2029
532457CQ9 2,290,000.00 AA- Aa3 08/13/24 08/14/24 2,293,343.40 4.17 20,571.83 2,292,276.80 2,288,074.11
BANK OF NY MELLON CORP (CALLABLE)
DTD 01/22/2026 4.026% 01/22/2030
06406RCG0 1,165,000.00 A Aa3 01/14/26 01/22/26 1,165,000.00 4.03 12,898.30 1,165,000.00 1,152,856.04
BANK OF NY MELLON CORP (CALLABLE)
DTD 01/22/2026 4.026% 01/22/2030
06406RCG0 2,310,000.00 A Aa3 01/27/26 01/28/26 2,305,934.40 4.07 25,575.17 2,306,181.02 2,285,920.56
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 7,835.33 729,051.66 740,072.54
MORGAN STANLEY PVT BANK (CALLABLE)
DTD 02/02/2026 4.213% 02/08/2030
61776NU43 2,000,000.00 A+ Aa3 02/04/26 02/05/26 2,000,700.00 4.20 20,830.94 2,000,652.07 1,978,058.00
APPLE INC (CALLABLE)
DTD 05/11/2020 1.650% 05/11/2030
037833DU1 1,834,000.00 AA+ Aaa 07/01/25 07/02/25 1,631,563.08 4.18 14,289.92 1,663,329.96 1,664,299.98 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 12 U.S. Bancorp Asset Management, Inc.
#15..
- 255 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 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
APPLE INC (CALLABLE)
DTD 05/11/2020 1.650% 05/11/2030
037833DU1 4,890,000.00 AA+ Aaa 07/01/25 07/02/25 4,349,801.70 4.19 38,101.25 4,434,568.68 4,437,528.30
JPMORGAN CHASE & CO (CALLABLE)
DTD 07/22/2024 4.995% 07/22/2030
46647PEJ1 4,330,000.00 A A1 03/17/26 03/18/26 4,411,620.50 4.51 59,477.96 4,409,580.26 4,383,375.91
NOVARTIS CAPITAL CORP (CALLABLE)
DTD 11/05/2025 4.100% 11/05/2030
66989HAY4 5,525,000.00 AA- Aa3 11/03/25 11/05/25 5,508,425.00 4.17 110,745.56 5,509,919.27 5,452,655.65 AMAZON.COM INC (CALLABLE)
DTD 11/20/2025 4.100% 11/20/2030
023135CT1 6,000,000.00 AA A1 11/17/25 11/20/25 5,993,580.00 4.12 110,016.67 5,994,103.23 5,917,386.00
CATERPILLAR FINL SERVICE
DTD 01/08/2026 4.150% 01/08/2031
14913UBH2 430,000.00 A A1 01/05/26 01/08/26 429,845.20 4.16 5,601.35 429,854.93 425,997.13
TOTALENERGI CAP USA LLC (CALLABLE)
DTD 01/13/2026 4.248% 01/13/2031
89158TAA7 1,790,000.00 A+ Aa3 01/06/26 01/13/26 1,790,000.00 4.25 22,811.76 1,790,000.00 1,771,494.98
TOTALENERGI CAP USA LLC (CALLABLE)
DTD 01/13/2026 4.248% 01/13/2031
89158TAA7 2,460,000.00 A+ Aa3 01/07/26 01/13/26 2,465,805.60 4.20 31,350.24 2,465,491.99 2,434,568.52
VISA INC (CALLABLE)
DTD 02/12/2026 4.100% 02/12/2031
92826CAZ5 7,500,000.00 AA- Aa3 03/03/26 03/04/26 7,562,775.00 3.91 67,479.17 7,560,924.65 7,478,857.50
BANK OF AMERICA CORP (CALLABLE)
DTD 02/13/2020 2.496% 02/13/2031
06051GHZ5 4,060,000.00 A- A1 03/16/26 03/17/26 3,763,335.80 4.16 21,956.48 3,770,056.61 3,759,689.92
DEPOSITORY TRUST COMPANY (CALLABLE)
DTD 03/27/2026 4.550% 03/27/2031
249672AA4 1,025,000.00 AA+ Aa1 03/23/26 03/27/26 1,024,139.00 4.57 4,404.65 1,024,157.33 1,026,070.10
WALMART INC (CALLABLE)
DTD 04/30/2026 4.150% 04/30/2031
931142FT5 1,445,000.00 AA Aa2 04/27/26 04/30/26 1,441,907.70 4.20 166.58 1,441,915.36 1,439,001.81 Security Type Sub-Total 107,329,000.00 106,104,401.23 4.38 1,019,988.75 106,466,446.32 106,451,867.20 Certificate of Deposit
COOPERAT RABOBANK UA/NY
DTD 07/20/2023 5.080% 07/17/2026
21684LGS5 3,500,000.00 A-1 P-1 07/17/23 07/20/23 3,500,000.00 5.08 51,364.44 3,500,000.00 3,511,385.50 Security Type Sub-Total 3,500,000.00 3,500,000.00 5.08 51,364.44 3,500,000.00 3,511,385.50 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 13 U.S. Bancorp Asset Management, Inc.
#15..
- 256 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 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
Bank Note
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 32,228.98 1,360,000.00 1,375,219.76
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 62,562.13 2,641,950.58 2,669,544.24 Security Type Sub-Total 4,000,000.00 4,005,570.40 5.47 94,791.11 4,001,950.58 4,044,764.00 Asset-Backed Security
KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
500945AC4 463,982.43 NR Aaa 07/18/23 07/26/23 463,865.23 5.29 1,088.81 463,937.58 466,712.97 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
06428AAC2 426,135.02 NR Aaa 07/25/23 07/31/23 426,118.87 5.53 1,047.35 426,128.66 428,389.28 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 740,819.82 AAA NR 08/15/23 08/22/23 740,667.06 5.42 1,447.27 740,758.66 744,459.47 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
89231FAD2 290,947.22 AAA NR 08/08/23 08/15/23 290,881.40 5.17 667.24 290,919.59 292,195.67 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
90291VAC4 743,658.21 AAA Aaa 09/07/23 09/15/23 743,528.07 5.58 1,844.27 743,598.15 747,207.69 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
06054YAC1 1,287,723.39 NR Aaa 11/15/23 11/21/23 1,287,700.08 5.74 3,285.13 1,287,713.12 1,296,249.41 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 470,177.99 AAA NR 11/07/23 11/14/23 470,127.31 5.54 1,157.68 470,152.78 473,940.83 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 982,026.01 AAA Aaa 08/15/23 08/23/23 981,965.12 5.53 2,413.60 981,998.01 988,308.03 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 3,019,576.09 3,033,532.62 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 3,089,931.20 3,105,267.69 HART 2023-C A3
DTD 11/13/2023 5.540% 10/16/2028
44918CAD4 629,877.77 AAA NR 11/03/23 11/13/23 629,794.94 5.54 1,550.90 629,834.44 634,354.94 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 14 U.S. Bancorp Asset Management, Inc.
#15..
- 257 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 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
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 1,364,902.53 1,372,570.29 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
36268GAD7 219,015.05 NR Aaa 01/09/24 01/17/24 218,971.01 4.85 442.59 218,990.22 219,884.54 CHAIT 2024-A1 A
DTD 01/31/2024 4.600% 01/15/2029
161571HV9 3,390,000.00 AAA NR 01/24/24 01/31/24 3,389,483.70 4.60 6,930.67 3,389,707.32 3,406,149.96 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 1,549,964.04 1,559,464.30 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 2,524,716.81 2,532,948.70 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 1,860.27 959,929.26 963,395.52 USAOT 2025-A A3
DTD 10/09/2025 3.950% 12/17/2029
90327HAC3 960,000.00 AAA Aaa 10/02/25 10/09/25 959,915.71 3.95 1,685.33 959,928.73 957,700.80 HAROT 2025-3 A3
DTD 08/12/2025 4.040% 02/21/2030
43813QAD1 2,355,000.00 AAA Aaa 08/05/25 08/12/25 2,354,950.78 4.04 2,642.83 2,354,958.53 2,346,693.92 ALLYA 2025-1 A3
DTD 10/16/2025 3.960% 03/15/2030
02008KAC7 860,000.00 AAA NR 10/07/25 10/16/25 859,877.19 3.96 1,513.60 859,892.11 858,549.18 TAOT 2025-C A3
DTD 07/30/2025 4.110% 03/15/2030
89238VAD0 1,635,000.00 AAA Aaa 07/22/25 07/30/25 1,634,827.67 4.11 2,986.60 1,634,853.91 1,635,217.46 HART 2025-C A3
DTD 09/17/2025 3.880% 04/15/2030
44935JAD8 2,040,000.00 AAA NR 09/09/25 09/17/25 2,039,667.07 3.88 3,517.87 2,039,716.18 2,027,870.16 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 1,212.67 679,918.43 680,850.00 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 3,505.47 1,830,000.00 1,835,841.36 HAROT 2025-4 A3
DTD 11/12/2025 3.980% 06/17/2030
43814XAD5 1,745,000.00 AAA NR 11/05/25 11/12/25 1,744,662.17 3.98 3,086.71 1,744,694.94 1,738,868.07 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 15 U.S. Bancorp Asset Management, Inc.
#15..
- 258 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Asset-Backed Security
TAOT 2025-D A3
DTD 10/23/2025 3.840% 06/17/2030
89231GAD0 2,575,000.00 AAA NR 10/15/25 10/23/25 2,574,703.88 3.84 4,394.67 2,574,735.01 2,561,308.73 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 61,955.83 3,989,086.45 4,000,792.95 CHAOT 2025-1A A3
DTD 07/30/2025 4.290% 06/25/2030
16145NAC5 1,135,000.00 NR Aaa 07/23/25 07/30/25 1,134,889.11 4.29 811.53 1,134,905.23 1,136,309.79 COPAR 2025-1 A3
DTD 11/05/2025 3.850% 07/15/2030
14043YAD7 965,000.00 AAA NR 10/28/25 11/05/25 964,795.61 3.85 1,651.22 964,816.70 958,198.68 AMXCA 2025-4 A
DTD 07/22/2025 4.300% 07/15/2030
02582JKV1 2,265,000.00 AAA NR 07/15/25 07/22/25 2,264,673.61 4.30 4,328.67 2,264,721.63 2,272,134.75 CHAIT 2025-A1 A
DTD 07/25/2025 4.160% 07/15/2030
161571HZ0 3,190,000.00 AAA NR 07/18/25 07/25/25 3,189,935.88 4.16 5,897.96 3,189,950.85 3,192,392.50 COMET 2025-A1 A
DTD 09/16/2025 3.820% 09/15/2030
14041NGF2 2,565,000.00 AAA NR 09/09/25 09/16/25 2,564,513.68 3.82 4,354.80 2,564,577.20 2,546,503.78 TAOT 2026-A A3
DTD 01/21/2026 3.860% 09/16/2030
89240KAD0 1,040,000.00 AAA Aaa 01/13/26 01/21/26 1,039,911.39 3.86 1,784.18 1,039,916.40 1,033,271.20 HART 2025-D A3
DTD 11/12/2025 3.990% 09/16/2030
44891XAD9 1,810,000.00 AAA NR 11/05/25 11/12/25 1,809,846.87 3.99 3,209.73 1,809,862.16 1,803,360.92 HAROT 2026-1 A3
DTD 02/18/2026 3.780% 09/23/2030
43815CAD0 1,005,000.00 NR Aaa 02/10/26 02/18/26 1,004,839.90 3.78 1,055.25 1,004,849.67 996,702.72 BAAT 2026-1A A3
DTD 04/24/2026 4.180% 10/15/2030
05620EAD0 1,110,000.00 NR Aaa 04/15/26 04/24/26 1,109,830.06 4.18 902.18 1,109,833.32 1,107,645.69 FORDO 2026-A A3
DTD 03/24/2026 4.050% 10/15/2030
34532WAD7 1,655,000.00 AAA Aaa 03/17/26 03/24/26 1,654,683.73 4.05 2,979.00 1,654,696.89 1,649,862.88 CHAOT 2025-2A A3
DTD 10/29/2025 3.860% 10/25/2030
16144MAD6 1,585,000.00 NR Aaa 10/17/25 10/29/25 1,584,937.23 3.86 1,019.68 1,584,947.88 1,574,569.12 TAOT 2026-B A3
DTD 04/21/2026 4.130% 12/16/2030
89240QAD7 1,685,000.00 AAA Aaa 04/14/26 04/21/26 1,684,644.63 4.14 1,933.07 1,684,652.97 1,682,305.69 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 16 U.S. Bancorp Asset Management, Inc.
#15..
- 259 -
Managed Account Detail of Securities Held For the Month Ending April 30, 2026 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 2026-A A3
DTD 02/18/2026 3.790% 02/18/2031
448981AD2 690,000.00 AAA NR 02/10/26 02/18/26 689,953.43 3.79 1,162.27 689,957.69 684,172.26 VZMT 2026-1 A1A
DTD 03/13/2026 3.940% 02/20/2031
92348KFC2 3,620,000.00 NR Aaa 03/05/26 03/13/26 3,619,496.10 3.94 4,358.08 3,619,509.73 3,602,642.10 Security Type Sub-Total 65,144,362.92 65,135,798.08 4.38 170,879.69 65,137,741.07 65,148,796.62 Managed Account Sub-Total 463,777,686.63 459,099,265.80 4.24 3,242,229.44 461,931,903.10 462,246,519.63 $463,777,686.63 $459,099,265.80 4.24% $3,242,229.44 $461,931,903.10 $462,246,519.63 $465,488,749.07
$3,242,229.44
Total Investments
Accrued Interest
Securities Sub-Total
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 17 U.S. Bancorp Asset Management, Inc.
#15..
- 260 -
Managed Account Fair Market Value & Analytics For the Month Ending April 30, 2026 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 91282CHB0 11,085,000.00 MorganSt 99.99 11,084,423.58 55,281.59 1,605.89 DTD 05/15/2023 3.625% 05/15/2026
0.04 3.73
US TREASURY N/B 91282CHM6 10,995,000.00 RBS 100.16 11,012,778.92 (24,311.31) 8,572.73 DTD 07/17/2023 4.500% 07/15/2026
0.20 3.67
US TREASURY N/B 91282CHY0 11,207,000.00 MorganSt 100.33 11,243,915.86 (64,647.58) (1,243.21) DTD 09/15/2023 4.625% 09/15/2026
0.37 3.71
US TREASURY N/B 912828ZN3 5,980,000.00 Nomura 96.81 5,789,387.50 444,762.50 (56,849.34) DTD 04/30/2020 0.500% 04/30/2027
0.98 3.79
US TREASURY N/B 912828ZV5 5,445,000.00 WellsFar 96.25 5,241,024.86 409,012.75 (58,025.64) DTD 06/30/2020 0.500% 06/30/2027
1.14 3.82
US TREASURY N/B 9128282R0 1,200,000.00 BNPPSA 97.98 1,175,812.80 33,187.80 (9,257.02) DTD 08/15/2017 2.250% 08/15/2027
1.25 3.86
US TREASURY N/B 9128282R0 2,985,000.00 HSBC 97.98 2,924,834.34 94,797.82 (19,706.79) DTD 08/15/2017 2.250% 08/15/2027
1.25 3.86
US TREASURY N/B 91282CFM8 805,000.00 BOFAML 100.35 807,798.99 8,050.36 4,314.03 DTD 09/30/2022 4.125% 09/30/2027
1.36 3.87
US TREASURY N/B 91282CFU0 915,000.00 Nomura 100.35 918,217.14 (9,507.08) (682.68) DTD 10/31/2022 4.125% 10/31/2027
1.44 3.88
US TREASURY N/B 91282CFU0 3,160,000.00 JPMorgan 100.35 3,171,110.56 (58,384.75) (10,260.61) DTD 10/31/2022 4.125% 10/31/2027
1.44 3.88
US TREASURY N/B 91282CAU5 8,775,000.00 WellsFar 95.14 8,348,929.87 876,126.16 (20,383.05) DTD 11/02/2020 0.500% 10/31/2027
1.47 3.87
US TREASURY N/B 91282CGC9 4,250,000.00 Nomura 99.98 4,249,005.50 (17,928.09) (7,169.68) DTD 01/03/2023 3.875% 12/31/2027
1.58 3.89
US TREASURY N/B 91282CBJ9 115,000.00 HSBC 94.74 108,949.05 9,123.66 (732.36) DTD 02/01/2021 0.750% 01/31/2028
1.71 3.89
US TREASURY N/B 91282CGH8 595,000.00 BNPPSA 99.35 591,118.82 (3,416.34) (3,708.11) DTD 01/31/2023 3.500% 01/31/2028
1.67 3.89
US TREASURY N/B 91282CGP0 1,245,000.00 TD Secur 100.20 1,247,480.04 16,291.76 7,556.98 DTD 02/28/2023 4.000% 02/29/2028
1.74 3.88
US TREASURY N/B 91282CBS9 880,000.00 BNPPSA 95.16 837,444.08 45,478.45 (8,090.56) DTD 03/31/2021 1.250% 03/31/2028
1.86 3.89
US TREASURY N/B 91282CMW8 1,220,000.00 Citigrou 99.73 1,216,712.10 (2,001.18) (2,032.30) DTD 04/15/2025 3.750% 04/15/2028
1.87 3.89
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 18 U.S. Bancorp Asset Management, Inc.
#15..
- 261 -
Managed Account Fair Market Value & Analytics For the Month Ending April 30, 2026 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 91282CHA2 225,000.00 GoldmanS 99.25 223,303.73 (2,724.59) (2,108.05) DTD 05/01/2023 3.500% 04/30/2028
1.91 3.90
US TREASURY N/B 91282CND9 545,000.00 Citigrou 99.72 543,488.72 (3,150.54) (2,964.84) DTD 05/15/2025 3.750% 05/15/2028
1.91 3.89
US TREASURY N/B 9128285M8 510,000.00 MorganSt 98.12 500,417.61 (2,609.73) (3,256.64) DTD 11/15/2018 3.125% 11/15/2028
2.38 3.91
US TREASURY N/B 91282CKX8 1,795,000.00 Citigrou 100.95 1,812,038.14 31,201.81 26,366.29 DTD 07/01/2024 4.250% 06/30/2029
2.90 3.93
US TREASURY N/B 91282CLC3 2,105,000.00 Citigrou 100.20 2,109,111.07 (10,525.26) (5,730.40) DTD 07/31/2024 4.000% 07/31/2029
2.99 3.93
US TREASURY N/B 91282CLK5 7,550,000.00 Citigrou 99.01 7,475,383.35 (90,247.51) (85,382.90) DTD 09/03/2024 3.625% 08/31/2029
3.09 3.94
US TREASURY N/B 91282CLN9 8,695,000.00 TD Secur 98.59 8,572,044.01 (98,161.65) (105,545.26) DTD 09/30/2024 3.500% 09/30/2029
3.18 3.95
US TREASURY N/B 91282CLR0 4,850,000.00 HSBC 100.55 4,876,713.80 38,649.35 35,325.37 DTD 10/31/2024 4.125% 10/31/2029
3.24 3.95
US TREASURY N/B 91282CMA6 6,315,000.00 WellsFar 100.56 6,350,521.88 24,174.61 27,121.42 DTD 12/02/2024 4.125% 11/30/2029
3.25 3.95
US TREASURY N/B 91282CMD0 12,365,000.00 BNP Sec 101.40 12,538,394.40 200,925.85 194,222.78 DTD 12/31/2024 4.375% 12/31/2029
3.32 3.96
US TREASURY N/B 91282CMG3 3,470,000.00 BNP Sec 100.97 3,503,752.69 46,629.65 43,682.60 DTD 01/31/2025 4.250% 01/31/2030
3.41 3.97
US TREASURY N/B 91282CMG3 5,215,000.00 HSBC 100.97 5,265,726.31 (8,553.57) 2,120.99 DTD 01/31/2025 4.250% 01/31/2030
3.41 3.97
US TREASURY N/B 91282CGQ8 8,565,000.00 Nomura 100.11 8,574,036.08 (6,688.72) (3,331.79) DTD 02/28/2023 4.000% 02/28/2030
3.50 3.97
US TREASURY N/B 91282CMU2 10,775,000.00 BNP Sec 100.09 10,785,106.95 (43,768.05) (33,014.68) DTD 03/31/2025 4.000% 03/31/2030
3.58 3.98
US TREASURY N/B 91282CMZ1 4,690,000.00 Citigrou 99.62 4,672,046.68 (21,983.79) (21,879.97) DTD 04/30/2025 3.875% 04/30/2030
3.67 3.98
US TREASURY N/B 91282CHF1 5,400,000.00 RBS 99.12 5,352,539.40 13,500.34 3,298.16 DTD 05/31/2023 3.750% 05/31/2030
3.69 3.98
US TREASURY N/B 91282CNK3 1,805,000.00 Citigrou 99.57 1,797,243.92 (13,185.18) (12,352.45) DTD 06/30/2025 3.875% 06/30/2030
3.77 3.99
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 19 U.S. Bancorp Asset Management, Inc.
#15..
- 262 -
Managed Account Fair Market Value & Analytics For the Month Ending April 30, 2026 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 91282CNN7 3,780,000.00 BOFAML 99.54 3,762,725.40 1,330.09 (1,194.03) DTD 07/31/2025 3.875% 07/31/2030
3.85 3.99
US TREASURY N/B 91282CNX5 16,460,000.00 Nomura 98.50 16,212,458.06 (160,098.19) (170,816.47) DTD 09/02/2025 3.625% 08/31/2030
3.95 4.01
US TREASURY N/B 91282CPA3 1,225,000.00 Citigrou 98.48 1,206,433.90 (15,120.79) (15,492.85) DTD 09/30/2025 3.625% 09/30/2030
4.03 4.00
US TREASURY N/B 91282CPA3 1,500,000.00 JPMorgan 98.48 1,477,266.00 (16,288.69) (16,897.03) DTD 09/30/2025 3.625% 09/30/2030
4.03 4.00
US TREASURY N/B 91282CPN5 7,075,000.00 GoldmanS 97.89 6,925,759.95 (108,890.44) (111,918.18) DTD 12/01/2025 3.500% 11/30/2030
4.13 4.01
US TREASURY N/B 91282CPR6 695,000.00 HSBC 98.36 683,624.94 (7,981.50) (8,182.87) DTD 12/31/2025 3.625% 12/31/2030
4.21 4.01
US TREASURY N/B 91282CPW5 3,845,000.00 Nomura 98.86 3,801,143.93 (43,705.87) (43,723.36) DTD 02/02/2026 3.750% 01/31/2031
4.28 4.01
US TREASURY N/B 91282CPW5 4,960,000.00 BMO 98.86 4,903,426.24 (41,267.51) (41,940.58) DTD 02/02/2026 3.750% 01/31/2031
4.28 4.01
US TREASURY N/B 91282CQD6 5,250,000.00 Citigrou 97.77 5,132,694.00 (31,173.19) (33,171.28) DTD 03/02/2026 3.500% 02/28/2031
4.38 4.01
Security Type Sub-Total 200,522,000.00 199,026,345.17 1,442,203.45 (562,857.74) 2.62 3.91 Municipal Bond / Note
HAWAII ST-TXBL-GP (CALLABLE) 419792S23 1,130,000.00 BOFAML 01/01/31 100.14 1,131,578.61 1,578.61 1,578.61 DTD 04/30/2026 4.212% 04/01/2031
4.32 4.26
Security Type Sub-Total 1,130,000.00 1,131,578.61 1,578.61 1,578.61 4.32 4.26 Federal Agency Commercial Mortgage-Backed Security
FHMS K061 A2 3137BTUM1 2,330,061.84 Citigrou 99.51 2,318,639.87 60,300.25 180.99 DTD 01/01/2017 3.347% 11/01/2026
0.49 3.92
FHMS K064 A2 3137BXQY1 4,000,000.00 MorganSt 99.29 3,971,440.00 198,315.00 28,115.02 DTD 05/01/2017 3.224% 03/01/2027
0.72 3.96
FHMS K065 A2 3137F1G44 2,275,000.00 Citigrou 99.22 2,257,141.25 112,153.95 16,824.37 DTD 07/01/2017 3.243% 04/01/2027
0.87 3.93
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 20 U.S. Bancorp Asset Management, Inc.
#15..
- 263 -
Managed Account Fair Market Value & Analytics For the Month Ending April 30, 2026 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 K066 A2 3137F2LJ3 3,487,429.26 CantorFi 99.04 3,453,929.01 192,637.74 34,193.99 DTD 08/01/2017 3.117% 06/01/2027
0.97 3.92
FHMS K507 A1 3137HAMR4 3,197,088.11 BOFAML 100.93 3,226,731.51 79,815.32 53,348.02 DTD 09/01/2023 4.800% 04/01/2028
1.66 4.10
FHMS K506 A1 3137HAMG8 1,842,443.16 WellsFar 100.69 1,855,098.90 40,209.49 25,635.49 DTD 09/01/2023 4.650% 05/01/2028
1.68 4.10
FHMS KJ46 A1 3137HAD45 2,736,756.32 JPMorgan 100.48 2,750,018.65 13,330.74 13,292.28 DTD 07/01/2023 4.777% 06/01/2028
1.11 4.10
FHMS K505 A2 3137HACX2 3,500,000.00 JPMorgan 101.01 3,535,500.50 542.50 20,256.84 DTD 07/01/2023 4.819% 06/01/2028
1.90 4.17
FNA 2023-M6 A2 3136BQDE6 3,207,536.70 JPMorgan 99.82 3,201,695.77 48,536.84 18,529.05 DTD 07/01/2023 4.190% 07/01/2028
2.04 4.17
FHMS KJ47 A1 3137HAMN3 1,048,383.81 JPMorgan 100.77 1,056,455.31 8,076.75 8,073.80 DTD 09/01/2023 5.272% 08/01/2028
1.03 4.24
FHMS K506 A2 3137HAMH6 3,800,000.00 WellsFar 100.75 3,828,534.20 84,747.60 56,686.75 DTD 09/01/2023 4.650% 08/01/2028
2.06 4.18
FHMS K508 A2 3137HAQ74 3,850,000.00 BMO 100.99 3,888,203.55 122,657.15 81,377.70 DTD 10/01/2023 4.740% 08/01/2028
2.09 4.16
FHMS K509 A2 3137HAST4 2,890,000.00 MorganSt 101.25 2,926,252.16 128,394.03 85,427.75 DTD 10/01/2023 4.850% 09/01/2028
2.17 4.18
FHMS K507 A2 3137HAMS2 3,800,000.00 BOFAML 101.14 3,843,274.40 88,695.80 66,977.02 DTD 09/01/2023 4.800% 09/01/2028
2.12 4.17
FHMS K510 A2 3137HB3D4 1,465,000.00 JPMorgan 101.78 1,491,072.61 30,307.92 28,346.88 DTD 11/01/2023 5.069% 10/01/2028
2.20 4.17
FHMS K511 A2 3137HB3G7 2,125,000.00 BOFAML 101.30 2,152,601.63 33,706.75 30,899.22 DTD 12/01/2023 4.860% 10/01/2028
2.24 4.19
FHMS K512 A2 3137HBCF9 1,782,624.52 JPMorgan 101.73 1,813,492.45 14,221.78 21,680.22 DTD 12/01/2023 5.000% 11/01/2028
2.25 4.14
FHMS K513 A2 3137HBFY5 2,190,000.00 BMO 101.07 2,213,330.07 1,454.16 10,947.45 DTD 01/01/2024 4.724% 12/01/2028
2.38 4.19
FHMS K514 A2 3137HBLV4 2,220,000.00 JPMorgan 100.69 2,235,306.90 (6,890.88) 2,633.83 DTD 02/01/2024 4.572% 12/01/2028
2.33 4.19
FHMS K518 A2 3137HC2L5 2,715,000.00 JPMorgan 102.70 2,788,207.26 7,653.58 33,500.04 DTD 03/01/2024 5.400% 01/01/2029
2.48 4.24
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 21 U.S. Bancorp Asset Management, Inc.
#15..
- 264 -
Managed Account Fair Market Value & Analytics For the Month Ending April 30, 2026 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 K517 A2 3137HC2C5 3,355,000.00 BOFAML 102.73 3,446,514.34 (9,088.69) 32,024.43 DTD 03/01/2024 5.355% 01/01/2029
2.49 4.19
FHMS K515 A2 3137HBPD0 3,750,000.00 WellsFar 102.67 3,850,035.00 (990.00) 40,884.66 DTD 02/01/2024 5.400% 01/01/2029
2.39 4.20
FHMS K516 A2 3137HBPM0 3,750,000.00 MorganSt 102.88 3,858,030.00 (4,458.75) 41,667.51 DTD 03/01/2024 5.477% 01/01/2029
2.43 4.21
FHMS K520 A2 3137HCKV3 2,125,000.00 BOFAML 102.45 2,177,073.13 43,447.75 46,617.42 DTD 04/01/2024 5.180% 03/01/2029
2.60 4.17
FHMS K524 A2 3137HDV56 3,245,000.00 PIER 101.32 3,287,924.86 22,997.32 29,539.12 DTD 07/01/2024 4.720% 05/01/2029
2.77 4.18
FHMS K526 A2 3137HDXL9 3,500,000.00 BMO 100.73 3,525,669.00 (7,070.00) 3,435.21 DTD 08/01/2024 4.543% 07/01/2029
2.92 4.23
FHMS K530 A2 3137HHJL6 3,980,000.00 JPMorgan 101.55 4,041,530.80 40,806.94 46,199.00 DTD 11/01/2024 4.792% 09/01/2029
3.06 4.23
FHMS K557 A2 3137HQSP7 1,985,000.00 MorganSt 98.32 1,951,731.40 (33,230.88) (33,234.25) DTD 03/01/2026 3.936% 01/01/2031
4.22 4.31
FHMS K558 A2 3137HQSV4 2,000,000.00 BMO 99.32 1,986,348.00 (18,852.00) (18,839.50) DTD 03/01/2026 4.130% 03/01/2031
4.22 4.26
Security Type Sub-Total 82,152,323.71 82,931,782.53 1,292,428.16 825,220.31 2.13 4.15 Corporate Note
TARGET CORP (CALLABLE) 87612EBM7 365,000.00 Citigrou 12/15/26 98.63 360,008.62 (4,370.88) (4,903.38) DTD 01/24/2022 1.950% 01/15/2027
0.69 3.93
MICROSOFT CORP (CALLABLE) 594918BY9 3,000,000.00 GoldmanS 11/06/26 99.53 2,985,885.00 71,715.00 1,726.11 DTD 02/06/2017 3.300% 02/06/2027
0.72 3.93
GOLDMAN SACHS BANK USA (CALLABLE) 38151LAG5 3,000,000.00 GoldmanS 05/21/26 100.05 3,001,533.00 (17,337.00) 469.32 DTD 05/21/2024 5.414% 05/21/2027
0.06 4.41
HOME DEPOT INC (CALLABLE) 437076BT8 3,610,000.00 TD Secur 06/14/27 98.35 3,550,471.10 144,797.10 1,007.59 DTD 09/14/2017 2.800% 09/14/2027
1.30 4.05
JPMORGAN CHASE & CO (CALLABLE) 46647PCW4 1,535,000.00 BOFAML 02/24/27 98.82 1,516,951.47 113,393.52 35,730.71 DTD 02/24/2022 2.947% 02/24/2028
0.79 4.63
KENVUE INC (CALLABLE) 49177JAF9 2,300,000.00 JPMorgan 02/22/28 101.37 2,331,500.80 (22,802.20) (6,263.83) DTD 10/17/2023 5.050% 03/22/2028
1.73 4.29
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 22 U.S. Bancorp Asset Management, Inc.
#15..
- 265 -
Managed Account Fair Market Value & Analytics For the Month Ending April 30, 2026 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
JOHN DEERE CAPITAL CORP 24422EXB0 495,000.00 SBSC 101.69 503,387.78 1,655.78 5,421.96 DTD 07/14/2023 4.950% 07/14/2028
2.05 4.15
JOHN DEERE CAPITAL CORP 24422EXB0 895,000.00 TD Secur 101.69 910,165.78 6,475.33 11,328.63 DTD 07/14/2023 4.950% 07/14/2028
2.05 4.15
JOHN DEERE CAPITAL CORP 24422EXB0 1,165,000.00 Citigrou 101.69 1,184,740.93 21,476.78 20,505.67 DTD 07/14/2023 4.950% 07/14/2028
2.05 4.15
PACCAR FINANCIAL CORP 69371RS64 1,130,000.00 TD Secur 101.67 1,148,860.83 25,945.93 22,104.37 DTD 08/10/2023 4.950% 08/10/2028
2.12 4.19
NATIONAL RURAL UTIL COOP (CALLABLE) 63743HFZ0 1,550,000.00 MUFG 07/25/28 99.53 1,542,752.20 (5,511.80) (5,889.73) DTD 08/25/2025 4.150% 08/25/2028
2.14 4.36
TOYOTA MOTOR CREDIT CORP 89236TLB9 2,800,000.00 BOFAML 102.30 2,864,358.00 69,230.00 66,812.32 DTD 09/11/2023 5.250% 09/11/2028
2.20 4.22
CITIBANK NA (CALLABLE) 17325FBB3 5,650,000.00 Citigrou 08/29/28 103.61 5,854,027.15 204,027.15 204,027.15 DTD 09/29/2023 5.803% 09/29/2028
2.18 4.22
BANK OF AMERICA CORP (CALLABLE) 06051GMK2 2,060,000.00 Citigrou 01/24/28 100.80 2,076,543.86 (6,280.94) 2,156.41 DTD 01/24/2025 4.979% 01/24/2029
1.64 4.49
ALPHABET INC (CALLABLE) 02079KBJ5 610,000.00 JPMorgan 01/15/29 98.86 603,075.28 (4,710.42) (4,862.76) DTD 02/13/2026 3.700% 02/15/2029
2.58 4.13
ALPHABET INC (CALLABLE) 02079KBJ5 655,000.00 SEEL 01/15/29 98.86 647,564.44 (6,734.71) (6,784.12) DTD 02/13/2026 3.700% 02/15/2029
2.58 4.13
ALPHABET INC (CALLABLE) 02079KBJ5 655,000.00 StifelNi 01/15/29 98.86 647,564.44 (6,787.11) (6,832.22) DTD 02/13/2026 3.700% 02/15/2029
2.58 4.13
ALPHABET INC (CALLABLE) 02079KBJ5 3,925,000.00 JPMorgan 01/15/29 98.86 3,880,443.40 (40,553.10) (40,838.22) DTD 02/13/2026 3.700% 02/15/2029
2.58 4.13
STATE STREET CORP (CALLABLE) 857477CN1 1,900,000.00 HSBC 02/20/28 100.39 1,907,398.60 7,398.60 7,398.60 DTD 08/20/2024 4.530% 02/20/2029
1.71 4.43
CATERPILLAR FINL SERVICE 14913UBJ8 2,790,000.00 Barclays 98.74 2,754,935.28 (31,381.92) (31,600.75) DTD 02/24/2026 3.750% 02/23/2029
2.63 4.23
CISCO SYSTEMS INC (CALLABLE) 17275RBR2 170,000.00 Citigrou 01/26/29 101.65 172,805.85 (1,656.65) (1,041.17) DTD 02/26/2024 4.850% 02/26/2029
2.56 4.22
BLACKROCK FUNDING INC (CALLABLE) 09290DAA9 365,000.00 Citigrou 02/14/29 101.47 370,376.45 6,037.10 5,773.41 DTD 03/14/2024 4.700% 03/14/2029
2.61 4.16
SALESFORCE INC (CALLABLE) 79466LAR5 3,250,000.00 Citigrou 02/15/29 100.19 3,256,331.00 7,046.00 7,013.57 DTD 03/13/2026 4.650% 03/15/2029
2.61 4.57
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 23 U.S. Bancorp Asset Management, Inc.
#15..
- 266 -
Managed Account Fair Market Value & Analytics For the Month Ending April 30, 2026 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
DEPOSITORY TRUST COMPANY 249672AC0 5,500,000.00 MUFG 02/27/29 99.95 5,497,101.50 (8,013.50) (7,908.29) (CALLABLE)
DTD 03/27/2026 4.300% 03/27/2029
2.66 4.32
ADOBE INC (CALLABLE) 00724PAF6 1,295,000.00 TD Secur 03/04/29 101.38 1,312,927.98 16,218.58 16,889.82 DTD 04/04/2024 4.800% 04/04/2029
2.66 4.29
ADOBE INC (CALLABLE) 00724PAF6 1,580,000.00 BOFAML 03/04/29 101.38 1,601,873.52 24,227.72 23,317.95 DTD 04/04/2024 4.800% 04/04/2029
2.66 4.29
BANK OF NEW YORK MELLON (CALLABLE) 06405LAH4 2,700,000.00 JPMorgan 04/20/28 100.79 2,721,386.70 (5,829.30) 2,851.24 DTD 04/22/2025 4.729% 04/20/2029
1.86 4.46
PEPSICO INC (CALLABLE) 713448FX1 1,935,000.00 Citigrou 06/17/29 100.86 1,951,544.25 19,543.50 18,540.52 DTD 07/17/2024 4.500% 07/17/2029
2.89 4.21
ELI LILLY & CO (CALLABLE) 532457CQ9 660,000.00 MorganSt 07/14/29 99.92 659,444.94 890.34 426.77 DTD 08/14/2024 4.200% 08/14/2029
2.99 4.23
ELI LILLY & CO (CALLABLE) 532457CQ9 2,290,000.00 JPMorgan 07/14/29 99.92 2,288,074.11 (5,269.29) (4,202.69) DTD 08/14/2024 4.200% 08/14/2029
2.99 4.23
BANK OF NY MELLON CORP (CALLABLE) 06406RCG0 1,165,000.00 MorganSt 01/22/29 98.96 1,152,856.04 (12,143.96) (12,143.96) DTD 01/22/2026 4.026% 01/22/2030
2.59 4.37
BANK OF NY MELLON CORP (CALLABLE) 06406RCG0 2,310,000.00 JANE 01/22/29 98.96 2,285,920.56 (20,013.84) (20,260.46) DTD 01/22/2026 4.026% 01/22/2030
2.59 4.37
PEPSICO INC (CALLABLE) 713448GB8 730,000.00 MorganSt 01/07/30 101.38 740,072.54 11,298.94 11,020.88 DTD 02/07/2025 4.600% 02/07/2030
3.37 4.20
MORGAN STANLEY PVT BANK (CALLABLE) 61776NU43 2,000,000.00 CIDLY 02/08/29 98.90 1,978,058.00 (22,642.00) (22,594.07) DTD 02/02/2026 4.213% 02/08/2030
2.58 4.58
APPLE INC (CALLABLE) 037833DU1 1,834,000.00 JPMorgan 02/11/30 90.75 1,664,299.98 32,736.90 970.02 DTD 05/11/2020 1.650% 05/11/2030
3.78 4.17
APPLE INC (CALLABLE) 037833DU1 4,890,000.00 SUSQ 02/11/30 90.75 4,437,528.30 87,726.60 2,959.62 DTD 05/11/2020 1.650% 05/11/2030
3.78 4.17
JPMORGAN CHASE & CO (CALLABLE) 46647PEJ1 4,330,000.00 CIDLY 07/22/29 101.23 4,383,375.91 (28,244.59) (26,204.35) DTD 07/22/2024 4.995% 07/22/2030
2.92 4.62
NOVARTIS CAPITAL CORP (CALLABLE) 66989HAY4 5,525,000.00 JPMorgan 10/05/30 98.69 5,452,655.65 (55,769.35) (57,263.62) DTD 11/05/2025 4.100% 11/05/2030
3.98 4.42
AMAZON.COM INC (CALLABLE) 023135CT1 6,000,000.00 JPMorgan 10/20/30 98.62 5,917,386.00 (76,194.00) (76,717.23) DTD 11/20/2025 4.100% 11/20/2030
4.02 4.44
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 24 U.S. Bancorp Asset Management, Inc.
#15..
- 267 -
Managed Account Fair Market Value & Analytics For the Month Ending April 30, 2026 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
CATERPILLAR FINL SERVICE 14913UBH2 430,000.00 Citigrou 99.07 425,997.13 (3,848.07) (3,857.80) DTD 01/08/2026 4.150% 01/08/2031
4.17 4.37
TOTALENERGI CAP USA LLC (CALLABLE) 89158TAA7 1,790,000.00 Citigrou 12/13/30 98.97 1,771,494.98 (18,505.02) (18,505.02) DTD 01/13/2026 4.248% 01/13/2031
4.15 4.49
TOTALENERGI CAP USA LLC (CALLABLE) 89158TAA7 2,460,000.00 SMBC 12/13/30 98.97 2,434,568.52 (31,237.08) (30,923.47) DTD 01/13/2026 4.248% 01/13/2031
4.15 4.49
VISA INC (CALLABLE) 92826CAZ5 7,500,000.00 BBVA 01/12/31 99.72 7,478,857.50 (83,917.50) (82,067.15) DTD 02/12/2026 4.100% 02/12/2031
4.25 4.16
BANK OF AMERICA CORP (CALLABLE) 06051GHZ5 4,060,000.00 CIDLY 02/13/30 92.60 3,759,689.92 (3,645.88) (10,366.69) DTD 02/13/2020 2.496% 02/13/2031
3.53 4.71
DEPOSITORY TRUST COMPANY 249672AA4 1,025,000.00 Citigrou 02/27/31 100.10 1,026,070.10 1,931.10 1,912.77 (CALLABLE)
DTD 03/27/2026 4.550% 03/27/2031
4.32 4.52
WALMART INC (CALLABLE) 931142FT5 1,445,000.00 Citigrou 03/30/31 99.58 1,439,001.81 (2,905.89) (2,913.55) DTD 04/30/2026 4.150% 04/30/2031
4.45 4.24
Security Type Sub-Total 107,329,000.00 106,451,867.20 347,465.97 (14,579.12) 2.78 4.32 Certificate of Deposit
COOPERAT RABOBANK UA/NY 21684LGS5 3,500,000.00 RABO UA 100.33 3,511,385.50 11,385.50 11,385.50 DTD 07/20/2023 5.080% 07/17/2026
0.21 3.48
Security Type Sub-Total 3,500,000.00 3,511,385.50 11,385.50 11,385.50 0.21 3.48 Bank Note
MORGAN STANLEY BANK NA (CALLABLE) 61690U8B9 1,360,000.00 MorganSt 05/26/27 101.12 1,375,219.76 15,219.76 15,219.76 DTD 05/30/2024 5.504% 05/26/2028
1.02 4.47
MORGAN STANLEY BANK NA (CALLABLE) 61690U8B9 2,640,000.00 MorganSt 05/26/27 101.12 2,669,544.24 23,973.84 27,593.66 DTD 05/30/2024 5.504% 05/26/2028
1.02 4.47
Security Type Sub-Total 4,000,000.00 4,044,764.00 39,193.60 42,813.42 1.02 4.47 Asset-Backed Security
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 25 U.S. Bancorp Asset Management, Inc.
#15..
- 268 -
Managed Account Fair Market Value & Analytics For the Month Ending April 30, 2026 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Asset-Backed Security
KCOT 2023-2A A3 500945AC4 463,982.43 JPMorgan 100.59 466,712.97 2,847.74 2,775.39 DTD 07/26/2023 5.280% 01/18/2028
0.41 3.90
BAAT 2023-1A A3 06428AAC2 426,135.02 BOFAML 100.53 428,389.28 2,270.41 2,260.62 DTD 07/31/2023 5.530% 02/15/2028
0.35 4.05
HAROT 2023-3 A3 43815QAC1 740,819.82 BOFAML 100.49 744,459.47 3,792.41 3,700.81 DTD 08/22/2023 5.410% 02/18/2028
0.37 4.14
TAOT 2023-C A3 89231FAD2 290,947.22 BNPPSA 100.43 292,195.67 1,314.27 1,276.08 DTD 08/15/2023 5.160% 04/17/2028
0.40 4.14
USAOT 2023-A A3 90291VAC4 743,658.21 JPMorgan 100.48 747,207.69 3,679.62 3,609.54 DTD 09/15/2023 5.580% 05/15/2028
0.28 3.90
BAAT 2023-2A A3 06054YAC1 1,287,723.39 BOFAML 100.66 1,296,249.41 8,549.33 8,536.29 DTD 11/21/2023 5.740% 06/15/2028
0.42 4.22
TAOT 2023-D A3 89239FAD4 470,177.99 JPMorgan 100.80 473,940.83 3,813.52 3,788.05 DTD 11/14/2023 5.540% 08/15/2028
0.60 4.26
FITAT 2023-1 A3 31680EAD3 982,026.01 JPMorgan 100.64 988,308.03 6,342.91 6,310.02 DTD 08/23/2023 5.530% 08/15/2028
0.43 4.11
CHAIT 2023-A1 A 161571HT4 3,020,000.00 JPMorgan 100.45 3,033,532.62 14,369.76 13,956.53 DTD 09/15/2023 5.160% 09/15/2028
0.37 3.98
AMXCA 2023-3 A 02582JKD1 3,090,000.00 Citigrou 100.49 3,105,267.69 15,405.81 15,336.49 DTD 09/19/2023 5.230% 09/15/2028
0.37 3.92
HART 2023-C A3 44918CAD4 629,877.77 BNPPSA 100.71 634,354.94 4,560.00 4,520.50 DTD 11/13/2023 5.540% 10/16/2028
0.51 4.20
BACCT 2023-A2 A2 05522RDH8 1,365,000.00 BOFAML 100.55 1,372,570.29 7,753.61 7,667.76 DTD 12/14/2023 4.980% 11/15/2028
0.52 3.97
GMCAR 2024-1 A3 36268GAD7 219,015.05 Barclays 100.40 219,884.54 913.53 894.32 DTD 01/17/2024 4.850% 12/18/2028
0.56 4.19
CHAIT 2024-A1 A 161571HV9 3,390,000.00 JPMorgan 100.48 3,406,149.96 16,666.26 16,442.64 DTD 01/31/2024 4.600% 01/15/2029
0.68 3.95
KCOT 2025-1A A3 50117FAC5 1,550,000.00 JPMorgan 100.61 1,559,464.30 9,517.46 9,500.26 DTD 02/19/2025 4.670% 06/15/2029
1.58 4.33
HART 2025-A A3 44935CAD3 2,525,000.00 Barclays 100.31 2,532,948.70 8,321.14 8,231.89 DTD 03/12/2025 4.320% 10/15/2029
1.14 4.08
HART 2025-B A3 44935XAD7 960,000.00 JPMorgan 100.35 963,395.52 3,482.21 3,466.26 DTD 06/11/2025 4.360% 12/17/2029
1.38 4.14
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 26 U.S. Bancorp Asset Management, Inc.
#15..
- 269 -
Managed Account Fair Market Value & Analytics For the Month Ending April 30, 2026 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
USAOT 2025-A A3 90327HAC3 960,000.00 JPMorgan 99.76 957,700.80 (2,214.91) (2,227.93) DTD 10/09/2025 3.950% 12/17/2029
1.35 4.16
HAROT 2025-3 A3 43813QAD1 2,355,000.00 Barclays 99.65 2,346,693.92 (8,256.86) (8,264.61) DTD 08/12/2025 4.040% 02/21/2030
1.54 4.30
ALLYA 2025-1 A3 02008KAC7 860,000.00 Barclays 99.83 858,549.18 (1,328.01) (1,342.93) DTD 10/16/2025 3.960% 03/15/2030
1.43 4.12
TAOT 2025-C A3 89238VAD0 1,635,000.00 RBC Capi 100.01 1,635,217.46 389.79 363.55 DTD 07/30/2025 4.110% 03/15/2030
1.53 4.14
HART 2025-C A3 44935JAD8 2,040,000.00 Citigrou 99.41 2,027,870.16 (11,796.91) (11,846.02) DTD 09/17/2025 3.880% 04/15/2030
1.68 4.27
GMCAR 2025-2 A3 362549AD9 680,000.00 TD Secur 100.13 680,850.00 950.10 931.57 DTD 05/14/2025 4.280% 04/16/2030
1.16 4.21
BACCT 2025-A1 A 05522RDK1 1,830,000.00 BOFAML 100.32 1,835,841.36 5,848.31 5,841.36 DTD 06/12/2025 4.310% 05/15/2030
1.92 4.18
HAROT 2025-4 A3 43814XAD5 1,745,000.00 BOFAML 99.65 1,738,868.07 (5,794.10) (5,826.87) DTD 11/12/2025 3.980% 06/17/2030
1.71 4.22
TAOT 2025-D A3 89231GAD0 2,575,000.00 JPMorgan 99.47 2,561,308.73 (13,395.15) (13,426.28) DTD 10/23/2025 3.840% 06/17/2030
1.81 4.17
CCCIT 2025-A1 A 17305EHA6 3,990,000.00 Citigrou 100.27 4,000,792.95 11,875.44 11,706.50 DTD 06/26/2025 4.300% 06/21/2030
2.00 4.16
CHAOT 2025-1A A3 16145NAC5 1,135,000.00 JPMorgan 100.12 1,136,309.79 1,420.68 1,404.56 DTD 07/30/2025 4.290% 06/25/2030
1.59 4.26
COPAR 2025-1 A3 14043YAD7 965,000.00 JPMorgan 99.30 958,198.68 (6,596.93) (6,618.02) DTD 11/05/2025 3.850% 07/15/2030
1.57 4.33
AMXCA 2025-4 A 02582JKV1 2,265,000.00 Barclays 100.32 2,272,134.75 7,461.14 7,413.12 DTD 07/22/2025 4.300% 07/15/2030
2.07 4.19
CHAIT 2025-A1 A 161571HZ0 3,190,000.00 JPMorgan 100.08 3,192,392.50 2,456.62 2,441.65 DTD 07/25/2025 4.160% 07/15/2030
2.07 4.16
COMET 2025-A1 A 14041NGF2 2,565,000.00 WellsFar 99.28 2,546,503.78 (18,009.90) (18,073.42) DTD 09/16/2025 3.820% 09/15/2030
2.23 4.18
TAOT 2026-A A3 89240KAD0 1,040,000.00 BNP Sec 99.35 1,033,271.20 (6,640.19) (6,645.20) DTD 01/21/2026 3.860% 09/16/2030
2.04 4.21
HART 2025-D A3 44891XAD9 1,810,000.00 BNP Sec 99.63 1,803,360.92 (6,485.95) (6,501.24) DTD 11/12/2025 3.990% 09/16/2030
1.94 4.21
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 27 U.S. Bancorp Asset Management, Inc.
#15..
- 270 -
Managed Account Fair Market Value & Analytics For the Month Ending April 30, 2026 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
HAROT 2026-1 A3 43815CAD0 1,005,000.00 MUFG 99.17 996,702.72 (8,137.18) (8,146.95) DTD 02/18/2026 3.780% 09/23/2030
2.08 4.21
BAAT 2026-1A A3 05620EAD0 1,110,000.00 BOFAML 99.79 1,107,645.69 (2,184.37) (2,187.63) DTD 04/24/2026 4.180% 10/15/2030
2.06 4.32
FORDO 2026-A A3 34532WAD7 1,655,000.00 Barclays 99.69 1,649,862.88 (4,820.85) (4,834.01) DTD 03/24/2026 4.050% 10/15/2030
2.19 4.23
CHAOT 2025-2A A3 16144MAD6 1,585,000.00 JPMorgan 99.34 1,574,569.12 (10,368.11) (10,378.76) DTD 10/29/2025 3.860% 10/25/2030
1.87 4.24
TAOT 2026-B A3 89240QAD7 1,685,000.00 MIZU 99.84 1,682,305.69 (2,338.94) (2,347.28) DTD 04/21/2026 4.130% 12/16/2030
2.26 4.24
HART 2026-A A3 448981AD2 690,000.00 BOFAML 99.16 684,172.26 (5,781.17) (5,785.43) DTD 02/18/2026 3.790% 02/18/2031
2.17 4.21
VZMT 2026-1 A1A 92348KFC2 3,620,000.00 SMBC 99.52 3,602,642.10 (16,854.00) (16,867.63) DTD 03/13/2026 3.940% 02/20/2031
2.23 4.36
Security Type Sub-Total 65,144,362.92 65,148,796.62 12,998.54 11,055.55 1.48 4.16 Managed Account Sub-Total 463,777,686.63 462,246,519.63 3,147,253.83 314,616.53 2.38 4.08 Total Investments $465,488,749.07
$3,242,229.44
$462,246,519.63
Accrued Interest
Securities Sub-Total $463,777,686.63 $3,147,253.83 $314,616.53 2.38 4.08% PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 28 U.S. Bancorp Asset Management, Inc.
#15..
- 271 -
Managed Account Security Transactions & Interest For the Month Ending April 30, 2026 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
04/07/26 DEPOSITORY TRUST COMPANY
(CALLABLE)
DTD 03/27/2026 4.300% 03/27/2029
04/06/26 249672AC0 5,500,000.00 (5,505,115.00) (6,569.44) (5,511,684.44) 04/14/26 US TREASURY N/B
DTD 04/15/2025 3.750% 04/15/2028
04/13/26 91282CMW8 1,220,000.00 (1,218,713.28) (22,749.31) (1,241,462.59) 04/21/26 TAOT 2026-B A3
DTD 04/21/2026 4.130% 12/16/2030
04/14/26 89240QAD7 1,685,000.00 (1,684,644.63) 0.00 (1,684,644.63) 04/24/26 BAAT 2026-1A A3
DTD 04/24/2026 4.180% 10/15/2030
04/15/26 05620EAD0 1,110,000.00 (1,109,830.06) 0.00 (1,109,830.06) 04/30/26 HAWAII ST-TXBL-GP (CALLABLE)
DTD 04/30/2026 4.212% 04/01/2031
04/16/26 419792S23 1,130,000.00 (1,130,000.00) 0.00 (1,130,000.00) 04/30/26 WALMART INC (CALLABLE)
DTD 04/30/2026 4.150% 04/30/2031
04/27/26 931142FT5 1,445,000.00 (1,441,907.70) 0.00 (1,441,907.70) Transaction Type Sub-Total 12,090,000.00 (12,090,210.67) (29,318.75) (12,119,529.42)
INTEREST
04/01/26 MONEY MARKET FUND
DTD 01/01/2010 0.000% --
04/01/26 MONEY0002 0.00 3,600.53 3,600.53
04/25/26 FHMS K513 A2
DTD 01/01/2024 4.724% 12/01/2028
04/01/26 3137HBFY5 0.00 8,621.30 8,621.30
04/25/26 FHMS K517 A2
DTD 03/01/2024 5.355% 01/01/2029
04/01/26 3137HC2C5 0.00 14,971.69 14,971.69
04/25/26 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
04/01/26 3137HBLV4 0.00 8,458.20 8,458.20
04/25/26 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
04/01/26 3137HDV56 0.00 12,763.67 12,763.67
04/25/26 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
04/01/26 3137HAMG8 0.00 7,147.96 7,147.96
04/25/26 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
04/01/26 3137F1G44 0.00 6,148.19 6,148.19
04/25/26 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
04/01/26 3137HAMN3 0.00 4,627.27 4,627.27
04/25/26 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
04/01/26 3137HAST4 0.00 11,680.42 11,680.42
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 29 U.S. Bancorp Asset Management, Inc.
#15..
- 272 -
Managed Account Security Transactions & Interest For the Month Ending April 30, 2026 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
04/25/26 FHMS K515 A2
DTD 02/01/2024 5.400% 01/01/2029
04/01/26 3137HBPD0 0.00 16,875.00 16,875.00
04/25/26 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
04/01/26 3137BXQY1 0.00 10,746.67 10,746.67
04/25/26 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
04/01/26 3136BQDE6 0.00 11,200.48 11,200.48
04/25/26 FHMS K518 A2
DTD 03/01/2024 5.400% 01/01/2029
04/01/26 3137HC2L5 0.00 12,217.50 12,217.50
04/25/26 FHMS K516 A2
DTD 03/01/2024 5.477% 01/01/2029
04/01/26 3137HBPM0 0.00 17,115.63 17,115.63
04/25/26 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
04/01/26 3137HAD45 0.00 10,907.51 10,907.51
04/25/26 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
04/01/26 3137HAMS2 0.00 15,200.00 15,200.00
04/25/26 FHMS K558 A2
DTD 03/01/2026 4.130% 03/01/2031
04/01/26 3137HQSV4 0.00 6,883.33 6,883.33
04/25/26 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
04/01/26 3137BTUM1 0.00 6,512.98 6,512.98
04/25/26 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
04/01/26 3137HB3D4 0.00 6,188.40 6,188.40
04/25/26 FHMS K557 A2
DTD 03/01/2026 3.936% 01/01/2031
04/01/26 3137HQSP7 0.00 6,510.80 6,510.80
04/25/26 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
04/01/26 3137HAMR4 0.00 12,878.27 12,878.27
04/25/26 FHMS K530 A2
DTD 11/01/2024 4.792% 09/01/2029
04/01/26 3137HHJL6 0.00 15,893.47 15,893.47
04/25/26 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
04/01/26 3137HB3G7 0.00 8,606.25 8,606.25
04/25/26 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
04/01/26 3137HAMH6 0.00 14,725.00 14,725.00
04/25/26 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
04/01/26 3137HDXL9 0.00 13,250.42 13,250.42
04/25/26 FHMS K066 A2
DTD 08/01/2017 3.117% 06/01/2027
04/01/26 3137F2LJ3 0.00 9,072.51 9,072.51
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 30 U.S. Bancorp Asset Management, Inc.
#15..
- 273 -
Managed Account Security Transactions & Interest For the Month Ending April 30, 2026 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
04/25/26 FHMS K520 A2
DTD 04/01/2024 5.180% 03/01/2029
04/01/26 3137HCKV3 0.00 9,172.92 9,172.92
04/25/26 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
04/01/26 3137HBCF9 0.00 7,428.48 7,428.48
04/25/26 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
04/01/26 3137HACX2 0.00 14,055.42 14,055.42
04/25/26 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
04/01/26 3137HAQ74 0.00 15,207.50 15,207.50
04/04/26 ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
04/04/26 00724PAF6 0.00 69,000.00 69,000.00
04/15/26 HART 2025-C A3
DTD 09/17/2025 3.880% 04/15/2030
04/15/26 44935JAD8 0.00 6,596.00 6,596.00
04/15/26 FORDO 2026-A A3
DTD 03/24/2026 4.050% 10/15/2030
04/15/26 34532WAD7 0.00 3,909.94 3,909.94
04/15/26 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
04/15/26 02582JKD1 0.00 13,467.24 13,467.24
04/15/26 KCOT 2025-1A A3
DTD 02/19/2025 4.670% 06/15/2029
04/15/26 50117FAC5 0.00 6,032.08 6,032.08
04/15/26 BACCT 2025-A1 A
DTD 06/12/2025 4.310% 05/15/2030
04/15/26 05522RDK1 0.00 6,572.75 6,572.75
04/15/26 TAOT 2025-D A3
DTD 10/23/2025 3.840% 06/17/2030
04/15/26 89231GAD0 0.00 8,240.00 8,240.00
04/15/26 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
04/15/26 06428AAC2 0.00 2,269.22 2,269.22
04/15/26 CHAIT 2025-A1 A
DTD 07/25/2025 4.160% 07/15/2030
04/15/26 161571HZ0 0.00 11,058.67 11,058.67
04/15/26 CHAIT 2024-A1 A
DTD 01/31/2024 4.600% 01/15/2029
04/15/26 161571HV9 0.00 12,994.99 12,994.99
04/15/26 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
04/15/26 161571HT4 0.00 12,986.00 12,986.00
04/15/26 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
04/15/26 90291VAC4 0.00 4,105.52 4,105.52
04/15/26 HAROT 2025-4 A3
DTD 11/12/2025 3.980% 06/17/2030
04/15/26 43814XAD5 0.00 5,787.58 5,787.58
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 31 U.S. Bancorp Asset Management, Inc.
#15..
- 274 -
Managed Account Security Transactions & Interest For the Month Ending April 30, 2026 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
04/15/26 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
04/15/26 31680EAD3 0.00 5,086.80 5,086.80
04/15/26 COMET 2025-A1 A
DTD 09/16/2025 3.820% 09/15/2030
04/15/26 14041NGF2 0.00 8,165.25 8,165.25
04/15/26 US TREASURY N/B
DTD 04/15/2025 3.750% 04/15/2028
04/15/26 91282CMW8 0.00 22,875.00 22,875.00
04/15/26 COPAR 2025-1 A3
DTD 11/05/2025 3.850% 07/15/2030
04/15/26 14043YAD7 0.00 3,096.04 3,096.04
04/15/26 TAOT 2025-C A3
DTD 07/30/2025 4.110% 03/15/2030
04/15/26 89238VAD0 0.00 5,599.88 5,599.88
04/15/26 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
04/15/26 89239FAD4 0.00 2,362.32 2,362.32
04/15/26 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
04/15/26 89231FAD2 0.00 1,408.22 1,408.22
04/15/26 USAOT 2025-A A3
DTD 10/09/2025 3.950% 12/17/2029
04/15/26 90327HAC3 0.00 3,160.00 3,160.00
04/15/26 AMXCA 2025-4 A
DTD 07/22/2025 4.300% 07/15/2030
04/15/26 02582JKV1 0.00 8,116.25 8,116.25
04/15/26 TAOT 2026-A A3
DTD 01/21/2026 3.860% 09/16/2030
04/15/26 89240KAD0 0.00 3,345.33 3,345.33
04/15/26 KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
04/15/26 500945AC4 0.00 2,284.86 2,284.86
04/15/26 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
04/15/26 05522RDH8 0.00 5,664.75 5,664.75
04/15/26 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
04/15/26 06054YAC1 0.00 6,897.57 6,897.57
04/15/26 HART 2023-C A3
DTD 11/13/2023 5.540% 10/16/2028
04/15/26 44918CAD4 0.00 3,205.58 3,205.58
04/15/26 HART 2026-A A3
DTD 02/18/2026 3.790% 02/18/2031
04/15/26 448981AD2 0.00 2,179.25 2,179.25
04/15/26 HART 2025-A A3
DTD 03/12/2025 4.320% 10/15/2029
04/15/26 44935CAD3 0.00 9,090.00 9,090.00
04/15/26 HART 2025-B A3
DTD 06/11/2025 4.360% 12/17/2029
04/15/26 44935XAD7 0.00 3,488.00 3,488.00
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 32 U.S. Bancorp Asset Management, Inc.
#15..
- 275 -
Managed Account Security Transactions & Interest For the Month Ending April 30, 2026 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
04/15/26 HART 2025-D A3
DTD 11/12/2025 3.990% 09/16/2030
04/15/26 44891XAD9 0.00 6,018.25 6,018.25
04/15/26 ALLYA 2025-1 A3
DTD 10/16/2025 3.960% 03/15/2030
04/15/26 02008KAC7 0.00 2,838.00 2,838.00
04/16/26 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
04/16/26 36268GAD7 0.00 970.93 970.93
04/16/26 GMCAR 2025-2 A3
DTD 05/14/2025 4.280% 04/16/2030
04/16/26 362549AD9 0.00 2,425.33 2,425.33
04/18/26 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
04/18/26 43815QAC1 0.00 3,807.42 3,807.42
04/20/26 VZMT 2026-1 A1A
DTD 03/13/2026 3.940% 02/20/2031
04/20/26 92348KFC2 0.00 14,658.99 14,658.99
04/20/26 BANK OF NEW YORK MELLON
(CALLABLE)
DTD 04/22/2025 4.729% 04/20/2029
04/20/26 06405LAH4 0.00 63,841.50 63,841.50
04/21/26 HAROT 2025-3 A3
DTD 08/12/2025 4.040% 02/21/2030
04/21/26 43813QAD1 0.00 7,928.50 7,928.50
04/21/26 HAROT 2026-1 A3
DTD 02/18/2026 3.780% 09/23/2030
04/21/26 43815CAD0 0.00 3,165.75 3,165.75
04/25/26 CHAOT 2025-1A A3
DTD 07/30/2025 4.290% 06/25/2030
04/25/26 16145NAC5 0.00 4,057.63 4,057.63
04/25/26 CHAOT 2025-2A A3
DTD 10/29/2025 3.860% 10/25/2030
04/25/26 16144MAD6 0.00 5,098.42 5,098.42
04/30/26 US TREASURY N/B
DTD 05/01/2023 3.500% 04/30/2028
04/30/26 91282CHA2 0.00 3,937.50 3,937.50
04/30/26 US TREASURY N/B
DTD 11/02/2020 0.500% 10/31/2027
04/30/26 91282CAU5 0.00 21,937.50 21,937.50
04/30/26 US TREASURY N/B
DTD 10/31/2022 4.125% 10/31/2027
04/30/26 91282CFU0 0.00 84,046.88 84,046.88
04/30/26 US TREASURY N/B
DTD 04/30/2020 0.500% 04/30/2027
04/30/26 912828ZN3 0.00 14,950.00 14,950.00
04/30/26 US TREASURY N/B
DTD 04/30/2025 3.875% 04/30/2030
04/30/26 91282CMZ1 0.00 90,868.75 90,868.75
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 33 U.S. Bancorp Asset Management, Inc.
#15..
- 276 -
Managed Account Security Transactions & Interest For the Month Ending April 30, 2026 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
04/30/26 US TREASURY N/B
DTD 10/31/2024 4.125% 10/31/2029
04/30/26 91282CLR0 0.00 100,031.25 100,031.25
Transaction Type Sub-Total 0.00 1,008,295.46 1,008,295.46
PAYDOWNS
04/25/26 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
04/01/26 3137HBCF9 211.24 211.24 0.00 211.24 (1.97) (1.12) 04/25/26 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
04/01/26 3137HAMN3 4,864.24 4,864.24 0.00 4,864.24 0.02 0.01 04/25/26 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
04/01/26 3137HAMR4 22,479.11 22,479.11 0.00 22,479.11 352.76 173.25 04/25/26 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
04/01/26 3137BTUM1 5,037.22 5,037.22 0.00 5,037.22 155.05 28.77 04/25/26 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
04/01/26 3137HAMG8 2,190.91 2,190.91 0.00 2,190.91 32.77 16.02 04/25/26 FHMS K066 A2
DTD 08/01/2017 3.117% 06/01/2027
04/01/26 3137F2LJ3 5,357.48 5,357.48 0.00 5,357.48 347.40 111.53 04/25/26 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
04/01/26 3137HAD45 3,251.33 3,251.33 0.00 3,251.33 0.08 0.04 04/25/26 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
04/01/26 3136BQDE6 237.86 237.86 0.00 237.86 4.03 1.87
04/15/26 KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
04/15/26 500945AC4 55,304.94 55,304.94 0.00 55,304.94 13.97 5.49 04/15/26 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
04/15/26 06054YAC1 154,278.39 154,278.39 0.00 154,278.39 2.79 1.25 04/15/26 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
04/15/26 90291VAC4 139,248.83 139,248.83 0.00 139,248.83 24.37 11.48 04/15/26 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
04/15/26 89239FAD4 41,516.08 41,516.08 0.00 41,516.08 4.48 2.27 04/15/26 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
04/15/26 31680EAD3 121,800.40 121,800.40 0.00 121,800.40 7.55 3.54 04/15/26 HART 2023-C A3
DTD 11/13/2023 5.540% 10/16/2028
04/15/26 44918CAD4 64,471.08 64,471.08 0.00 64,471.08 8.48 4.51 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 34 U.S. Bancorp Asset Management, Inc.
#15..
- 277 -
Managed Account Security Transactions & Interest For the Month Ending April 30, 2026 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
04/15/26 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
04/15/26 89231FAD2 36,546.53 36,546.53 0.00 36,546.53 8.27 3.55 04/15/26 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
04/15/26 06428AAC2 66,281.17 66,281.17 0.00 66,281.17 2.51 1.01 04/16/26 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
04/16/26 36268GAD7 21,214.95 21,214.95 0.00 21,214.95 4.27 2.44 04/18/26 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
04/18/26 43815QAC1 103,709.63 103,709.63 0.00 103,709.63 21.38 8.73 Transaction Type Sub-Total 848,001.39 848,001.39 0.00 848,001.39 988.21 374.64 SELL
04/07/26 MICROSOFT CORP (CALLABLE)
DTD 08/08/2016 2.400% 08/08/2026
04/06/26 594918BR4 3,000,000.00 2,984,130.00 11,800.00 2,995,930.00 (49,020.00) (18,372.28) FIFO 04/07/26 MASTERCARD INC (CALLABLE)
DTD 11/21/2016 2.950% 11/21/2026
04/06/26 57636QAG9 2,560,000.00 2,543,641.60 28,529.78 2,572,171.38 109,542.40 3,657.06 FIFO 04/14/26 WALMART INC (CALLABLE)
DTD 04/18/2023 3.900% 04/15/2028
04/13/26 931142FB4 1,220,000.00 1,221,891.00 23,657.83 1,245,548.83 4,611.60 3,001.10 FIFO 04/21/26 US TREASURY N/B
DTD 04/30/2020 0.500% 04/30/2027
04/17/26 912828ZN3 500,000.00 484,062.50 1,187.85 485,250.35 37,187.50 (4,446.03) FIFO 04/24/26 US TREASURY N/B
DTD 03/02/2026 3.500% 02/28/2031
04/21/26 91282CQD6 1,150,000.00 1,130,683.59 6,015.63 1,136,699.22 (449.22) (820.63) FIFO 04/24/26 US TREASURY N/B
DTD 05/15/2025 3.750% 05/15/2028
04/21/26 91282CND9 1,100,000.00 1,099,570.31 18,232.04 1,117,802.35 (3,738.28) (3,390.11) FIFO Transaction Type Sub-Total 9,530,000.00 9,463,979.00 89,423.13 9,553,402.13 98,134.00 (20,370.89) Managed Account Sub-Total (1,778,230.28) 1,068,399.84 (709,830.44) 99,122.21 (19,996.25) Total Security Transactions ($1,778,230.28) $1,068,399.84 ($709,830.44) $99,122.21 ($19,996.25) PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 35 U.S. Bancorp Asset Management, Inc.
#15..
- 278 -
Attachment 3
City of Modesto Combined Yields
Month
Ending
Combined
Yield
CAMP
Balance
CAMP Monthly
Distribution Yields
Long Term Amortized
Cost Balance
Long Term Portfolio
Yield
Short Term
Amortized Cost
Balance
Short Term
Portfolio Yield
4/30/2024 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 4.11% 79,438,306.43 4.42% 410,441,768.77 4.04% 32,935,133.33 4.31% 6/30/2025 4.14% 79,725,922.37 4.40% 412,622,161.85 4.08% 32,944,543.05 4.31% 7/31/2025 4.14% 59,964,300.41 4.41% 413,979,818.20 4.10% 33,186,228.57 4.08% 8/31/2025 4.15% 60,188,576.00 4.40% 415,507,339.76 4.12% 33,191,772.31 4.08% 9/30/2025 4.20% 50,385,416.20 4.36% 415,105,801.40 4.20% 33,383,909.00 3.97% 10/31/2025 4.20% 50,567,728.74 4.26% 418,980,906.24 4.21% 33,376,279.26 3.97% 11/30/2025 4.22% 50,738,014.85 4.10% 418,324,184.39 4.25% 33,368,986.12 3.97% 12/31/2025 4.21% 40,897,392.32 3.95% 418,804,876.80 4.26% 33,361,531.69 3.97% 1/31/2026 4.23% 31,011,170.63 3.85% 420,801,727.19 4.28% 33,354,002.10 3.97% 2/28/2026 4.21% 31,102,230.57 3.83% 423,583,119.84 4.26% 33,347,145.30 3.97% 3/31/2026 4.20% 31,202,481.58 3.80% 426,758,956.72 4.25% 33,339,545.05 3.97% 4/30/2026 4.19% 61,343,149.62 3.78% 428,599,720.15 4.26% 33,332,182.95 3.97% Notes:
1. Long and Short Term Portfolio AC Balance is the amortized cost value of the separately managed portfolios.
2. Long and Short Term Portfolio Yields are the separately managed portfolios yield at costs. #15..
- 279 -
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 2,330,062 11/1/2026 3.920% 1 50,674 4.29% 16,709
FHLMC 4,000,000 3/1/2027 3.990% 1 165,064 4.94% 33,013
FHLMC 2,275,000 4/1/2027 3.970% 1 103,347 4.93% 18,762
FHLMC 3,487,429 6/1/2027 3.970% 1 188,415 4.97% 28,950
FHLMC 3,197,088 4/1/2028 4.160% 2 319,197 5.19% 27,736
FHLMC 1,842,443 5/1/2028 4.160% 2 184,997 5.01% 15,416
FHLMC 3,500,000 6/1/2028 4.230% 2 336,029 4.59% 26,865
FHLMC 2,736,756 6/1/2028 4.150% 2 273,318 4.78% 21,851
FNMA 3,207,537 7/1/2028 4.240% 2 318,867 4.58% 24,528
FHLMC 3,800,000 8/1/2028 4.180% 2 427,808 4.99% 31,670
FHLMC 1,048,384 8/1/2028 4.280% 2 124,776 5.27% 9,237
FHLMC 3,850,000 8/1/2028 4.230% 2 456,452 5.25% 33,791
FHLMC 3,800,000 9/1/2028 4.230% 2 451,718 5.07% 32,228
FHLMC 2,890,000 9/1/2028 4.240% 2 379,409 5.60% 27,069
FHLMC 1,465,000 10/1/2028 4.230% 2 182,409 5.14% 12,573 FHLMC 2,125,000 10/1/2028 4.250% 2 253,807 4.93% 17,494 FHLMC 1,782,625 11/1/2028 4.200% 3 214,172 4.79% 14,263 FHLMC 2,190,000 12/1/2028 4.260% 3 255,335 4.50% 16,465 FHLMC 2,220,000 12/1/2028 4.250% 3 249,995 4.34% 16,120 FHLMC 3,750,000 1/1/2029 4.270% 3 480,463 4.79% 29,998
FHLMC 3,750,000 1/1/2029 4.280% 3 480,694 4.79% 30,013
FHLMC 3,355,000 1/1/2029 4.250% 3 419,087 4.67% 26,166
FHLMC 2,715,000 1/1/2029 4.300% 3 351,075 4.83% 21,920
FHLMC 2,125,000 3/1/2029 4.230% 3 306,708 5.09% 18,059
FHLMC 3,245,000 5/1/2029 4.240% 3 446,317 4.58% 24,818
FHLMC 3,500,000 7/1/2029 4.300% 3 481,141 4.33% 25,345
FHLMC 3,980,000 9/1/2029 4.290% 3 621,211 4.67% 31,061
FHLMC 1,985,000 1/1/2031 4.370% 5 365,427 3.94% 13,059
FHLMC 2,000,000 3/1/2031 4.320% 5 393,997 4.07% 13,609
U.S. Treasury
U.S. Treasury 11,085,000 5/15/2026 3.730% 0 18,881 3.78% 70,077 U.S. Treasury 10,995,000 7/15/2026 3.670% 0 93,541 4.09% 75,079 U.S. Treasury 11,207,000 9/15/2026 3.710% 0 156,500 3.69% 69,177 U.S. Treasury 5,980,000 4/30/2027 3.790% 1 174,496 2.92% 29,162 U.S. Treasury 5,445,000 6/30/2027 3.820% 1 190,173 2.99% 27,231 U.S. Treasury 1,200,000 8/15/2027 3.860% 1 51,263 3.30% 6,625 U.S. Treasury 2,985,000 8/15/2027 3.860% 1 131,250 3.40% 16,962 U.S. Treasury 805,000 9/30/2027 3.870% 1 48,816 4.27% 5,749 U.S. Treasury 8,775,000 10/31/2027 3.940% 2 516,209 3.91% 57,357 U.S. Treasury 915,000 10/31/2027 3.880% 2 52,437 3.81% 5,826 U.S. Treasury 3,160,000 10/31/2027 3.880% 2 172,448 3.63% 19,161 U.S. Treasury 4,250,000 12/31/2027 3.890% 2 268,391 3.78% 26,839 U.S. Treasury 115,000 1/31/2028 3.890% 2 7,396 3.66% 704 U.S. Treasury 595,000 1/31/2028 3.890% 2 36,753 3.52% 3,498 U.S. Treasury 1,245,000 2/29/2028 3.880% 2 97,111 4.25% 8,841 U.S. Treasury 880,000 3/31/2028 3.960% 2 59,009 3.49% 5,135 U.S. Treasury 1,220,000 4/15/2028 3.890% 2 91,064 3.81% 7,758 U.S. Treasury 225,000 4/30/2028 3.900% 2 15,319 3.40% 1,278 U.S. Treasury 545,000 5/15/2028 3.890% 2 40,227 3.61% 3,289 U.S. Treasury 510,000 11/15/2028 3.910% 3 47,295 3.64% 3,102 U.S. Treasury 1,795,000 6/30/2029 3.930% 3 251,932 4.43% 13,282 U.S. Treasury 2,105,000 7/31/2029 3.930% 3 263,475 3.85% 13,529 U.S. Treasury 7,550,000 8/31/2029 3.940% 3 902,468 3.58% 45,160 U.S. Treasury 8,695,000 9/30/2029 3.950% 3 1,060,060 3.56% 51,772 U.S. Treasury 4,850,000 10/31/2029 3.950% 4 710,944 4.18% 33,881 U.S. Treasury 6,315,000 11/30/2029 3.950% 4 925,766 4.08% 43,108 U.S. Treasury 12,365,000 12/31/2029 4.030% 4 2,010,264 4.43% 91,444 U.S. Treasury 3,470,000 1/31/2030 3.970% 4 565,223 4.33% 25,130 U.S. Treasury 5,215,000 1/31/2030 3.970% 4 779,991 3.98% 34,679 U.S. Treasury 8,565,000 2/28/2030 3.970% 4 1,300,580 3.96% 56,668 U.S. Treasury 10,775,000 3/31/2030 4.040% 4 1,642,781 3.89% 70,028 U.S. Treasury 4,690,000 4/30/2030 3.980% 4 722,999 3.85% 30,187 U.S. Treasury 5,400,000 5/31/2030 3.980% 4 883,334 4.00% 36,115 U.S. Treasury 1,805,000 6/30/2030 3.990% 4 286,636 3.81% 11,488 U.S. Treasury 3,780,000 7/31/2030 3.990% 4 640,864 3.98% 25,172 U.S. Treasury 16,460,000 8/31/2030 4.070% 4 2,673,410 3.74% 102,953 U.S. Treasury 1,225,000 9/30/2030 4.000% 4 199,725 3.69% 7,548 U.S. Treasury 1,500,000 9/30/2030 4.000% 4 246,803 3.72% 9,328 U.S. Treasury 7,075,000 11/30/2030 4.010% 5 1,177,238 3.63% 42,873 U.S. Treasury 695,000 12/31/2030 4.010% 5 121,266 3.73% 4,336 U.S. Treasury 4,960,000 1/31/2031 4.010% 5 901,301 3.82% 31,652 U.S. Treasury 3,845,000 1/31/2031 4.010% 5 686,284 3.75% 24,101 U.S. Treasury 5,250,000 2/28/2031 4.010% 5 981,613 3.87% 33,925 Earnings to
Maturity
April 30, 2026
#15..
- 280 -
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
April 30, 2026
Negotiable CD
Rabobank Nederland 3,500,000 7/17/2026 3.470% 0 37,996 5.08% 29,715 Corporate Note
Target Corp 365,000 1/15/2027 3.930% 1 5,164 1.99% 1,212 Microsoft Corp 3,000,000 2/6/2027 3.930% 1 94,031 4.06% 20,340 Goldman Sachs Group Inc 3,000,000 5/21/2027 4.410% 1 161,127 5.08% 25,463 Home Depot Inc 3,610,000 9/14/2027 4.050% 1 206,439 4.16% 25,085 JPMorgan Chase & Co 1,535,000 2/24/2028 4.660% 2 143,482 5.13% 13,161 Kenvue Inc. 2,300,000 3/22/2028 4.290% 2 179,803 4.12% 15,850 Morgan Stanley 1,360,000 5/26/2028 4.470% 2 155,246 5.50% 12,510 Morgan Stanley 2,640,000 5/26/2028 4.470% 2 298,337 5.45% 24,040 Deere & Company 1,165,000 7/14/2028 4.200% 2 128,217 4.98% 9,704 Deere & Company 495,000 7/14/2028 4.200% 2 50,740 4.64% 3,840 Deere & Company 895,000 7/14/2028 4.200% 2 93,462 4.73% 7,073 Paccar Financial Corp 1,130,000 8/10/2028 4.240% 2 131,365 5.09% 9,620 National Rural Utilities Co Finance Corp 1,550,000 8/25/2028 4.360% 2 150,890 4.19% 10,854 Toyota Motor Corp 2,800,000 9/11/2028 4.270% 2 351,024 5.29% 24,754 Citigroup Inc 5,650,000 9/29/2028 4.260% 2 793,175 5.80% 54,795 Bank Of America Co 2,060,000 1/24/2029 4.530% 3 262,800 4.66% 16,031 Alphabet Inc 610,000 2/15/2029 4.130% 3 65,398 3.83% 3,903 Alphabet Inc 655,000 2/15/2029 4.130% 3 68,553 3.74% 4,092 Alphabet Inc 655,000 2/15/2029 4.130% 3 68,500 3.74% 4,089 Alphabet Inc 3,925,000 2/15/2029 4.130% 3 410,597 3.74% 24,507 State Street Corporation 1,900,000 2/20/2029 4.430% 3 242,175 4.53% 14,384 Caterpillar Inc 2,790,000 2/23/2029 4.230% 3 298,944 3.80% 17,704 Cisco Systems Inc 170,000 2/26/2029 4.220% 3 19,186 3.99% 1,133 Blackrock Inc. 365,000 3/14/2029 4.220% 3 49,733 4.74% 2,892 Salesforce Inc 3,250,000 3/15/2029 4.570% 3 435,472 4.66% 25,299 Depository Trust Company 5,500,000 3/27/2029 4.320% 3 682,661 4.27% 39,211 Adobe 1,580,000 4/4/2029 4.290% 3 223,896 4.83% 12,764
Adobe 1,295,000 4/4/2029 4.290% 3 181,080 4.77% 10,323
The Bank Of New York Mellon Corporation 2,700,000 4/20/2029 4.460% 3 357,295 4.45% 20,069 Pepsico Inc 1,935,000 7/17/2029 4.210% 3 282,243 4.53% 14,665 Eli Lilly & Co 660,000 8/14/2029 4.230% 3 92,351 4.25% 4,687 Eli Lilly & Co 2,290,000 8/14/2029 4.230% 3 314,269 4.17% 15,949 The Bank Of New York Mellon Corporation 1,165,000 1/22/2030 4.410% 4 175,147 4.03% 7,839 The Bank Of New York Mellon Corporation 2,310,000 1/22/2030 4.410% 4 351,436 4.07% 15,728 Pepsico Inc 730,000 2/7/2030 4.260% 4 127,916 4.64% 5,658 Morgan Stanley 2,000,000 2/8/2030 4.630% 4 317,823 4.20% 14,049 Apple Inc 1,834,000 5/11/2030 4.230% 4 309,454 4.18% 12,824 Apple Inc 4,890,000 5/11/2030 4.230% 4 825,531 4.19% 34,210 JPMorgan Chase & Co 4,330,000 7/22/2030 4.670% 4 826,220 4.51% 32,642 Novartis Capital Corp 5,525,000 11/5/2030 4.420% 5 1,040,751 4.17% 38,476 Amazon.Com Inc 6,000,000 11/20/2030 4.440% 5 1,128,706 4.12% 41,352 Caterpillar Inc 430,000 1/8/2031 4.370% 5 83,960 4.16% 2,988 Totalenergi Cap USA LLC 1,790,000 1/13/2031 4.490% 5 358,113 4.25% 12,708 Totalenergi Cap USA LLC 2,460,000 1/13/2031 4.490% 5 486,027 4.20% 17,247 Visa Inc 7,500,000 2/12/2031 4.160% 5 1,405,729 3.91% 49,028 Bank Of America Co 4,060,000 2/13/2031 4.760% 5 809,289 4.16% 28,209 Depository Trust Company 1,025,000 3/27/2031 4.580% 5 229,922 4.57% 7,827 Wal-Mart Stores Inc 1,445,000 4/30/2031 4.240% 5 303,457 4.20% 10,137 Asset-Backed Securities
Kubota Credit Owners Trust 463,982 1/18/2028 3.900% 2 42,201 5.29% 4,099 Bank of America Auto Trust 426,135 2/15/2028 4.050% 2 42,361 5.53% 3,939 Honda Auto Receivables 740,820 2/18/2028 4.140% 2 72,430 5.42% 6,704 Toyota Motor Corp 290,947 4/17/2028 4.140% 2 29,563 5.17% 2,512 USAA Owners Trust 743,658 5/15/2028 3.900% 2 84,875 5.58% 6,940 Bank of America Auto Trust 1,287,723 6/15/2028 4.240% 2 157,359 5.74% 12,354 Fifth Third Auto Trust 982,026 8/15/2028 4.110% 2 124,712 5.53% 9,078 Toyota Motor Corp 470,178 8/15/2028 4.260% 2 59,830 5.54% 4,355 American Express Co 3,090,000 9/15/2028 3.920% 2 384,831 5.23% 27,013 Chase Issurance 3,020,000 9/15/2028 3.980% 2 371,461 5.17% 26,075 Hyundai Auto Receivables 629,878 10/16/2028 4.200% 2 86,090 5.54% 5,835 Bank Of America Co 1,365,000 11/15/2028 3.970% 3 173,306 4.98% 11,367 Gm Financial Securitized Term 219,015 12/18/2028 4.190% 3 28,051 4.85% 1,777 Chase Issurance 3,390,000 1/15/2029 3.950% 3 423,701 4.60% 26,080 Kubota Credit Owners Trust 1,550,000 6/15/2029 4.330% 3 226,519 4.67% 12,100 Hyundai Auto Receivables 2,525,000 10/15/2029 4.080% 3 378,052 4.32% 18,245 Hyundai Auto Receivables 960,000 12/17/2029 4.140% 4 152,246 4.36% 6,998 USAA Owners Trust 960,000 12/17/2029 4.160% 4 137,939 3.95% 6,341 Honda Auto Receivables 2,355,000 2/21/2030 4.300% 4 363,140 4.04% 15,902 Ally Auto Receivables Trust 860,000 3/15/2030 4.170% 4 132,142 3.96% 5,697 Toyota Motor Corp 1,635,000 3/15/2030 4.140% 4 260,668 4.11% 11,237 Hyundai Auto Receivables 2,040,000 4/15/2030 4.270% 4 313,887 3.88% 13,241 Gm Financial Securitized Term 680,000 4/16/2030 4.210% 4 115,468 4.28% 4,868 Bank Of America Co 1,830,000 5/15/2030 4.180% 4 318,949 4.31% 13,182 Honda Auto Receivables 1,745,000 6/17/2030 4.220% 4 287,452 3.98% 11,620 Toyota Motor Corp 2,575,000 6/17/2030 4.170% 4 409,082 3.84% 16,537 Citigroup Inc 3,990,000 6/21/2030 4.160% 4 712,218 4.31% 28,715 Chase Auto Owner Trust 1,135,000 6/25/2030 4.260% 4 202,474 4.29% 8,142 American Express Co 2,265,000 7/15/2030 4.190% 4 410,432 4.30% 16,289 Capital One Prime Auto Receivables 965,000 7/15/2030 4.330% 4 156,643 3.85% 6,217 Chase Issurance 3,190,000 7/15/2030 4.160% 4 558,865 4.16% 22,180 Capital One Financial Corp 2,565,000 9/15/2030 4.180% 4 429,684 3.82% 16,392 Hyundai Auto Receivables 1,810,000 9/16/2030 4.210% 4 316,727 3.99% 12,075 Toyota Motor Corp 1,040,000 9/16/2030 4.210% 4 176,065 3.86% 6,712 Honda Auto Receivables 1,005,000 9/23/2030 4.210% 4 167,419 3.78% 6,355 Bank of America Auto Trust 1,110,000 10/15/2030 4.320% 4 207,258 4.18% 7,761 Ford Credit Auto Owner Trust 1,655,000 10/15/2030 4.230% 4 299,484 4.05% 11,215 Chase Auto Owner Trust 1,585,000 10/25/2030 4.240% 4 274,785 3.86% 10,227 Toyota Motor Corp 1,685,000 12/16/2030 4.240% 5 322,795 4.14% 11,644 Hyundai Auto Receivables 690,000 2/18/2031 4.210% 5 125,786 3.79% 4,372 Verizon 3,620,000 2/20/2031 4.410% 5 687,091 3.94% 23,855 #15..
- 281 -
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
April 30, 2026
Municipal Securities
Hawaii St 1,130,000 4/1/2031 4.310% 5 234,360 4.21% 7,955 Overnight Investments 61,343,150 Varies Varies 3.55% 363,806 Totals (Main Portfolio) 525,120,836 57,758,975 4.15% 3,638,649 Notes:
1. Earnings projections are based on stated par value, future market expectations and current investment positions.
2. Earnings on overnight investments are based on the investment balances and the Fed Funds Futures rates.
3. Callable securities priced above par are considered to be called on their next call date. #15..
- 282 -
Attachment 5
Issue Name / Type Trustee Bank Investment Total Amount
($)
Instl Res Tre and Agny Cash Adv6541 563,991.25
Financial Guaranty Insurance Pol 1.00
CAMP 2,278,842.85
Total 2,842,835.10
Instl Res Tre and Agny Cash Adv6541 1,139,271.41
Letter of Credit 1.00
CAMP 5,637,567.77
Total 6,776,840.18
2018 Wastewater Refunding Bank of New York Fidelity Inv MM Trsy Only 263,229.05 2020 Wastewater Refunding Bank of New York Instl Res Tre and Agny Cash Adv6541 31,286.05 Instl Res Tre and Agny Cash Adv6541 4,641,665.97
State and Local Government Series Securities 49,950,636.00 Total 54,592,301.97
Fairview Village Refunding US Bank First American Treasury Obligation Fund 199,772.83 Blackrock Federal Fund Instl 30 588,413.72
CAMP 3,227,681.42
Total 3,816,095.14
Other Post Employment Benefits Section 115
Trust PARS HighMark Plus Moderate 2,178,161.87
Pension Section 115 Trust PARS HighMark Plus Moderately Conservative 3,407,065.02 Athens Administrators (Third Party Administrator
- Worker's Compensation) Wells Fargo Bank 502,384.72
George Hills Company - General Liability Claims
Administration Services California Bank & Trust 74,956.75 Kemper Sports Management Inc. BMO Harris Bank Business Money Market 59,901.35 Stanislaus Community Foundation Modesto Commerce Bank Charles Schwab 1,011,087.17 Village One #2 Refunding Bank of New York
2025 Wastewater Bank of New York
Cash with Fiscal Agent Investments
As of April 30, 2026
2008 Water Refunding COP Bank of New York
2008 Lease Revenue Bonds Bank of New York
#15..
- 283 -
CITY OF MODESTO
COUNCIL AGENDA REPORT
DATE OF MEETING:
July 14, 2026
Date: June 22, 2026
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
Chad Reed, Director of Public Works
SUBJECT: Fleet Replacements – Heavy-Duty Construction Equipment CONTACT: Dianne Love, Purchasing Manager, [email protected], 209-571-5164
DESCRIPTION:
Consider approving the purchase for eight (8) Fleet Replacements for Heavy-Duty Construction Equipment for a total amount not to exceed $2,210,323. (Funding Source:
Fleet Replacement Fund and Water Fund)
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:
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 of the City. Following this process, a Fleet Addition and Replacement List is submitted to Council and is approved as part of the new fiscal year’s Public Works Fleet Budget.
Throughout the fiscal year, replacement vehicles need to be purchased and added to the City’s Fleet inventory due to the operational needs of City departments, especially when the existing vehicle has reached its useful life. Details of the current Fleet vehicles being replaced, are available under Exhibit A – Fleet Replacement and Addition Details.
#16..
- 284 -
City Council, July 14, 2026
Fleet Replacements – Heavy-Duty Construction
Equipment
DISCUSSION:
Sourcewell1 is a cooperative agency which streamlines the procurement process by developing Invitation for Bids (IFBs) or Request for Proposals (RFPs) 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 other government agencies to offer exceptional products from nationally acclaimed vendors.
Invitation for Bids - (IFB) IFB 2526-54 – Eight (8) Heavy-Duty Construction Equipment
On June 2, 2025, the City Manager authorized the Purchasing Manager to solicit the procurement for Heavy Construction Equipment with Related Attachments and Technology. This solicitation was advertised on the Sourcewell Procurement Portal and New York State Contract Reporter website, Daily Journal Commerce (DJC) Oregon, and Oklahoman. On January 17, 2023, proposals were opened at Sourcewell location.
There were 18 proposals received which included zero (0) local vendors and the proposers were evaluated based on the best overall quality, selection of equipment, products, and services, and price and criteria outlined in the RFP, 13 contracts were awarded for this commodity. Based on the responsive and responsible proposer offering the award one (1) or more contracts to responsive and responsible proposers offering the best overall quality, selection of equipment, products, and services, and price that meet the commonly requested specifications of Sourcewell and its Participating Entities.
The award(s) will be limited to the number of proposers that Sourcewell determines is necessary to meet the needs of its Participating Entities. City staff recommends to award to Pape Machinery, Inc., French Camp, CA to purchase eight (8) various HeavyDuty Construction Equipment Configurations for an amount not to exceed $1,922,020.
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 could be served. Both requirements were met based on the Competitive Bidding Process selected by Sourcewell.
For vehicles and equipment, City Staff recommend applying a change order of up to 15% in case any market changes occur between the timeframe of when the order is 1 Sourcewell | Cooperative Purchasing Advantages
#16..
- 285 -
City Council, July 14, 2026
Fleet Replacements – Heavy-Duty Construction
Equipment
placed with the vendor and when the production of the vehicle is completed. With current inflation, and the volatility of the market, City staff will ensure any price increases requested by the vendor align with the market change based on using the Commodities Research Unit indexes which focus on indexes related to steel.
FISCAL IMPACT:
The eight (8) various Heavy-Duty Construction Equipment listed below will be funded from the Fleet Replacement Fund and Water Fund as there were not enough Fleet Replacement Funds collected for the tractors. The eight (8) replacement vehicles were collected over the life of the current vehicle to cover the cost for the replacement vehicles through the Fleet Internal Service Fund allocation.
Below is a summary of the Fleet Replacement Costs and Funding Sources:
CEQA/NEPA REQUIREMENTS:
This item does not constitute a “project” within the meaning of California Environmental Quality Act (CEQA) Guidelines Section 15378 and requires no environmental review.
COMMITTEE RECOMMENDATION:
This item was presented at the FY 2020-21 on May 18-19, 2020, 2023-24 on April 17- 19, 2023, and 2025-26 on April 14-16, 2025, Finance Committee Budget Workshops for the purchase of eight (8) Various Tractors as part of the Public Works Fleet presentation.
IFB No. Type of Fleet
Original
Amount
Change
Order
Amount not
to Exceed
Funding
Source
2526-
54 Four (4) Backhoe
Loaders $ 723,014 $ 108,454 $ 831,468
Fleet
Replacement
and Water
Fund
2526-
54 One (1) Grader
Motor Tractor $ 535,111 $ 80,265 $ 615,376
Fleet
Replacement
2526-
54 Two (2) Track
Loader Tractors $ 187,240 $ 28,086 $ 215,326
Fleet
Replacement
and Water
Fund
2526-
54 One (1) Excavator
Tractor $ 476,655 $ 71,498 $ 548,153
Fleet
Replacement
Total $ 1,922,020 $ 288,303 $ 2,210,323
#16..
- 286 -
City Council, July 14, 2026
Fleet Replacements – Heavy-Duty Construction
Equipment
RECOMMENDED COUNCIL ACTION:
Staff Recommendations:
Resolution approving the Competitive Bidding Process from Sourcewell to John Deere Shared Services LLC, under the authorized dealer, Pape Machinery, Inc., French Camp, CA for the purchase of four (4) Backhoe Loaders, one (1) Grader Motor Tractor, two (2) Track Loader Tractors, and one (1) Excavator Tractor for an amount not to exceed $2,210,323; 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.
Approved by:
DeAnna Christensen, Director of Finance
Chad Reed, Director of Public Works
Joseph P. Lopez, City Manager
Attachments:
1. Resolution
2. Exhibit A – Fleet Replacement and Addition Details
3. Quote – (8) Various Heavy-Duty Construction Equipment
4. Financial Interest Disclosure (FID) – Pape Machinery
5. CA Levine Act – Pape Machinery
6. Scoring Abstract
#16..
- 287 -
07/14/2026/FIN/DChristensen/Item X 1 2026-XX
MODESTO CITY COUNCIL
RESOLUTION NO. 2026-XX
RESOLUTION APPROVING THE COMPETITIVE BIDDING PROCESS FROM
SOURCEWELL TO JOHN DEERE SHARED SERVICES LLC UNDER THE
AUTHORIZED DEALER, PAPE MACHINERY, FRENCH CAMP, CA FOR THE PURCHASE OF FOUR (4) BACKHOE LOADERS, ONE (1) GRADER MOTOR TRACTOR, TWO (2) TRACK LOADER TRACTORS, AND ONE (1)
EXCAVATOR TRACTOR FOR AN AMOUNT NOT TO EXCEED $2,210,323;
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 due to the operational needs for the city including the addition of new vehicles due to the operational needs for the City; and
WHEREAS, on June 2, 2025, the City Manager authorized the Purchasing Manager to solicit the procurement for Heavy Construction Equipment with Related Attachments and Technology; and
WHEREA, this solicitation was advertised on the Sourcewell Procurement Portal and New York State Contract Reporter website, Daily Journal Commerce (DJC) Oregon, and Oklahoman; and
WHEREAS, on January 17, 2023, proposals were opened at Sourcewell location; and
WHEREAS, there were 18 proposals received which included zero (0) local vendors and the proposers were evaluated based on the best overall #16..
- 288 -
07/14/2026/FIN/DChristensen/Item X 2 2026-XX
quality, selection of equipment, products, and services, and price and criteria outlines in the RFP, thirteen (13) contracts were awarded for this commodity; and WHEREAS, based on the responsible and responsible proposer offering the award one or more contracts to responsive and responsible proposers offering the best overall quality, selection of equipment, products, and services, and price that meet the commonly requested specifications of Sourcewell and its Participating Entities; and
WHEREAS, the award(s) will be limited to the number of proposers that Sourcewell determines is necessary to meet the needs of its Participating Entities. City staff recommends to award to Pape Machinery, Inc., French Camp, CA to purchase eight (8) various Construction Tractors Configurations for an amount not to exceed $1,922,020; 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; and
WHEREAS, 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 #16..
- 289 -
07/14/2026/FIN/DChristensen/Item X 3 2026-XX
could be served. Both requirements were met based on the Competitive Bidding Process selected by Sourcewell.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the Competitive Bidding Process from Sourcewell to John Deere Shared Services LLC, under the authorized dealer, Pape Machinery, Inc., French Camp, CA for the purchase of four (4) Backhoe Loaders, one (1) Grader Motor Tractor, two (2) Track Loader Tractors, and one (1) Excavator Tractor for an amount not to exceed $2,210,323.
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.
#16..
- 290 -
07/14/2026/FIN/DChristensen/Item X 4 2026-XX
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 14th day of July, 2026, 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
#16..
- 291 -
Fleet Replacement:
IFB Vehicle Description Department
Year of
Equipment Meter Repair Cost
50731 Tractor Utilities - Wastewater 2007 3,500 $ 19,795 51344 Tractor Utilities - Water 2013 6,548 $ 112,118
51334 Tractor Utilities - Water 2013 6,852 $ 85,854
51242 Tractor Utilities - Water 2012 7,605 $ 113,511
59901 Skid Steer Loader with Attachments Public Works - Fleet Motor Pool 1999 194 $ 35,729 59731 Grader Motor Tractor Utilities - Wastewater 1997 2,400 $ 60,018 51320 Tractor Utilities - Water 2013 1,534 $ 26,933
50930 Tractor Utilities - Wastewater 2009 3,916 $ 31,612 These heavy equipment vehicles are used in support of various construction activities related Levee system, channel and storage pond control, water main repair and installation and street surface repairs #16..
#16..
- 293 -
#16..
- 294 -
#16..
- 295 -
#16..
- 296 -
#16..
- 297 -
#16..
- 298 -
#16..
- 299 -
#16..
- 300 -
#16..
- 301 -
#16..
- 302 -
#16..
- 303 -
#16..
- 304 -
#16..
- 305 -
Prepared For
CITY OF MODESTO FLEET
MANAGEMENT
501 N JEFFERSON ST
MODESTO, CA 953542234
(209) 342-2222
Prepared By
Steve Shook
Pape Machinery, Inc.
8621 S El Dorado Street
French Camp, CA 95231
(350) 217-1606
[email protected]
Quote Id 1544894
Creation Date 27-Jan-2026
Expiration Date 01-Sep-2026
City of Modesto 325G w/ hh80c (Replacing 51320)
#16..
- 306 -
Salesperson : X ___________________ Accepted By : X ___________________ Prepared For
CITY OF MODESTO FLEET
MANAGEMENT
501 N JEFFERSON ST
MODESTO, CA 953542234
(209) 342-2222
Prepared By
Steve Shook
Pape Machinery, Inc.
8621 S El Dorado Street
French Camp, CA 95231
(350) 217-1606
[email protected]
Quote Id 1544894
Creation Date 27-Jan-2026
Expiration Date 01-Sep-2026
Quote Summary
Equipment Summary Suggested List Selling Price QTY In Group Extended 325 P-Tier Compact Track Loader $99,722.00 $99,722.00 1 $99,722.00 Sourcewell Discount 30% ($29,916.60) ($29,916.60) 1 ($29,916.60) Non- Sourcewell Items $6,900.00 $6,900.00 1 $6,900.00
HH80C Hydraulic Hammer $17,368.00 $17,368.00 1 $17,368.00 Sourcewell Attachment discount 14% ($2,417.24) ($2,417.24) 1 ($2,417.24) Equipment Total $91,656.16
Quote Summary
Total Selling Price $91,656.16
Sales - (8.875%) $8,134.48
Sub-total $99,790.64
Balance Due $99,790.64
#16..
- 307 -
Selling Equipment
Quote # 1544894
Customer CITY OF MODESTO FLEET MANAGEMENT
325 P-Tier Compact Track Loader
Equipment Notes - - -
Hours - - -
Serial Number - - -
Stock Number - - -
PUK Parent Serial # - - -
QTY In Group : 1
Suggested List
$99,722.00
Selling Price
$99,722.00
Equipment Summary
Code Description Qty List Price Adjusted Selling Price
00Z0T 325 P-Tier Compact Track
Loader 1 $78,975.00 $78,975.00
Base / Options
Code Description Qty List Price Adjusted Selling Price
0202 United States 1 $0.00 $0.00
0259 English 1 $0.00 $0.00
0351 Translated Text Labels 1 $0.00 $0.00
0513
Level 4 Package - HI FLOW,
SELF LVL, RIDE CNTRL,
POWER QT, CAB A/C, DLX
LED LTS, REV FAN,
CHROME, HEAT SEAT, RADIO
1 $10,792.00 $10,792.00
0952 Rear Camera (Secondary
Display) 1 $940.00 $940.00
1053 Air Ride Seat (Cloth with Heat) 1 $691.00 $691.00
1210 Premium Package Radio 1 $667.00 $667.00
1363 3-Inch Seat Belt with Shoulder
Harness 1 $293.00 $293.00
1602
ISO-H Switchable Controls and
EH Joystick Performance
Package
1 $1,144.00 $1,144.00
183E JDLink™ 1 $0.00 $0.00
4062 Yanmar 3.3L - FT4/Stage V 1 $0.00 $0.00
5600
Narrow Offset Block Lug
Tracks - 12.6 in. (320mm) -
narrow stance
1 $0.00 $0.00
8050 Footrest With Floormat 1 $159.00 $159.00
#16..
- 308 -
8059 Cab Severe Duty
Polycarbonate Door 1 $2,432.00 $2,432.00
8917 72 in. Construction Bucket
(17.8 cu. ft.) with Edge 1 $2,387.00 $2,387.00
8048 Counterweight (Triple Set) 1 $1,242.00 $1,242.00
Total Base / Options $99,722.00 $99,722.00
Selling Price Subtotal $99,722.00
Total Selling Price $99,722.00
#16..
- 309 -
Sourcewell Discount 30%
Equipment Notes - - -
Hours - - -
Serial Number - - -
Stock Number - - -
PUK Parent Serial # - - -
QTY In Group : 1
Suggested List
($29,916.60)
Selling Price
($29,916.60)
Equipment Summary
Code Description Qty List Price Adjusted Selling Price
1 Sourcewell discount 30% 1 ($29,916.60) ($29,916.60)
Total Base / Options ($29,916.60) ($29,916.60)
Selling Price Subtotal ($29,916.60)
Total Selling Price ($29,916.60)
#16..
- 310 -
Non- Sourcewell Items
Equipment Notes - - -
Hours - - -
Serial Number - - -
Stock Number - - -
PUK Parent Serial # - - -
QTY In Group : 1
Suggested List
$6,900.00
Selling Price
$6,900.00
Equipment Summary
Code Description Qty List Price Adjusted Selling Price
1 Freight 1 $4,000.00 $4,000.00
Base / Options
Code Description Qty List Price Adjusted Selling Price
PDI 1 $1,500.00 $1,500.00
Delivery 1 $750.00 $750.00
PDI Breaker 1 $250.00 $250.00
Install hose guide 1 $400.00 $400.00
Total Base / Options $6,900.00 $6,900.00
Customer Discounts
Description Discount Amount
Customer Discount $0.00
Total Discounts $0.00
Selling Price Subtotal $6,900.00
Total Selling Price $6,900.00
#16..
- 311 -
HH80C Hydraulic Hammer
Equipment Notes - - -
Hours - - -
Serial Number - - -
Stock Number - - -
PUK Parent Serial # - - -
QTY In Group : 1
Suggested List
$17,368.00
Selling Price
$17,368.00
Equipment Summary
Code Description Qty List Price Adjusted Selling Price
0CB0T HH80C Hydraulic Hammer 1 $13,759.00 $13,759.00
Base / Options
Code Description Qty List Price Adjusted Selling Price
AT436025 Mounting Bracket, SSL & CTL 1 $2,478.00 $2,478.00 BYT10648 Deluxe lighting kit 1 $927.00 $927.00
1001 Boom Mounted Hose Guide Kit 1 $102.00 $102.00
Total Base / Options $17,266.00 $17,266.00
Dealer Attachments
Code Description Qty List Price Adjusted Selling Price
AT436025
Boom Mounted Hose Guide Kit
Serial Number: - - -
Stock Number: - - -
1 $102.00 $102.00
[E-series] [G-series: 320G - 333G]
Total Dealer Attachments $102.00 $102.00
Selling Price Subtotal $17,368.00
Total Selling Price $17,368.00
#16..
- 312 -
Sourcewell Attachment discount 14%
Equipment Notes - - -
Hours - - -
Serial Number - - -
Stock Number - - -
PUK Parent Serial # - - -
QTY In Group : 1
Suggested List
($2,417.24)
Selling Price
($2,417.24)
Equipment Summary
Code Description Qty List Price Adjusted Selling Price
1 Deere hh80C COMPACT
TRACK LOADERS 1 ($2,417.24) ($2,417.24)
Total Base / Options ($2,417.24) ($2,417.24)
Selling Price Subtotal ($2,417.24)
Total Selling Price ($2,417.24)
#16..
- 313 -
#16..
- 314 -
#16..
- 315 -
#16..
- 316 -
#16..
- 317 -
#16..
- 318 -
#16..
- 319 -
#16..
- 320 -
#16..
- 321 -
#16..
- 322 -
#16..
- 323 -
#16..
- 324 -
#16..
- 325 -
#16..
- 326 -
#16..
- 327 -
Prepared For
CITY OF MODESTO FLEET
MANAGEMENT
501 N JEFFERSON ST
MODESTO, CA 953542234
(209) 342-2222
Prepared By
Steve Shook
Pape Machinery, Inc.
8621 S El Dorado Street
French Camp, CA 95231
(350) 217-1606
[email protected]
Quote Id 1592849
Creation Date 05-Feb-2026
Expiration Date 01-Sep-2026
City of Modesto 325G (Replacing 59901)
#16..
- 328 -
Salesperson : X ___________________ Accepted By : X ___________________ Prepared For
CITY OF MODESTO FLEET
MANAGEMENT
501 N JEFFERSON ST
MODESTO, CA 953542234
(209) 342-2222
Prepared By
Steve Shook
Pape Machinery, Inc.
8621 S El Dorado Street
French Camp, CA 95231
(350) 217-1606
[email protected]
Quote Id 1592849
Creation Date 05-Feb-2026
Expiration Date 01-Sep-2026
Quote Summary
Equipment Summary Suggested List Selling Price QTY In Group Extended 325 P-Tier Compact Track Loader $99,541.00 $99,541.00 1 $99,541.00 Sourcewell discount 30% ($29,862.30) ($29,862.30) 1 ($29,862.30) John Deere PA30B Auger $4,590.28 $4,590.28 1 $4,590.28
Sourcewell Attachment Discount 14% ($698.98) ($698.98) 1 ($698.98) Non-Sourcewell Items $6,750.00 $6,750.00 1 $6,750.00
Equipment Total $80,320.00
Quote Summary
Total Selling Price $80,320.00
Sales - (8.875%) $7,128.40
Sub-total $87,448.40
Balance Due $87,448.40
#16..
- 329 -
Selling Equipment
Quote # 1592849
Customer CITY OF MODESTO FLEET MANAGEMENT
325 P-Tier Compact Track Loader
Equipment Notes - - -
Hours - - -
Serial Number - - -
Stock Number - - -
PUK Parent Serial # - - -
QTY In Group : 1
Suggested List
$99,541.00
Selling Price
$99,541.00
Equipment Summary
Code Description Qty List Price Adjusted Selling Price
00Z0T 325 P-Tier Compact Track
Loader 1 $78,975.00 $78,975.00
Base / Options
Code Description Qty List Price Adjusted Selling Price
0202 United States 1 $0.00 $0.00
0259 English 1 $0.00 $0.00
0351 Translated Text Labels 1 $0.00 $0.00
0513
Level 4 Package - HI FLOW,
SELF LVL, RIDE CNTRL,
POWER QT, CAB A/C, DLX
LED LTS, REV FAN,
CHROME, HEAT SEAT, RADIO
1 $10,792.00 $10,792.00
0952 Rear Camera (Secondary
Display) 1 $940.00 $940.00
1053 Air Ride Seat (Cloth with Heat) 1 $691.00 $691.00
1210 Premium Package Radio 1 $667.00 $667.00
1363 3-Inch Seat Belt with Shoulder
Harness 1 $293.00 $293.00
1602
ISO-H Switchable Controls and
EH Joystick Performance
Package
1 $1,144.00 $1,144.00
183E JDLink™ 1 $0.00 $0.00
4062 Yanmar 3.3L - FT4/Stage V 1 $0.00 $0.00
5600
Narrow Offset Block Lug
Tracks - 12.6 in. (320mm) -
narrow stance
1 $0.00 $0.00
8050 Footrest With Floormat 1 $159.00 $159.00
#16..
- 330 -
8059 Cab Severe Duty
Polycarbonate Door 1 $2,432.00 $2,432.00
8918 72 in. Construction Bucket
(17.8 cu. ft.) with Serrated Edge 1 $2,620.00 $2,620.00 8047 Counterweight (Double Set) 1 $828.00 $828.00
Total Base / Options $99,541.00 $99,541.00
Selling Price Subtotal $99,541.00
Total Selling Price $99,541.00
#16..
- 331 -
Sourcewell discount 30%
Equipment Notes - - -
Hours - - -
Serial Number - - -
Stock Number - - -
PUK Parent Serial # - - -
QTY In Group : 1
Suggested List
($29,862.30)
Selling Price
($29,862.30)
Equipment Summary
Code Description Qty List Price Adjusted Selling Price
1 Sourcewell discount 24% 325P
COMPACT TRACK LOADERS 1 ($29,862.30) ($29,862.30)
Total Base / Options ($29,862.30) ($29,862.30)
Selling Price Subtotal ($29,862.30)
Total Selling Price ($29,862.30)
#16..
- 332 -
John Deere PA30B Auger
Equipment Notes - - -
Hours - - -
Serial Number - - -
Stock Number - - -
PUK Parent Serial # - - -
QTY In Group : 1
Suggested List
$4,590.28
Selling Price
$4,590.28
Equipment Summary
Code Description Qty List Price Adjusted Selling Price
1 John Deere PA30B Planetary
Auger Drive -03N1T 1 $3,180.00 $3,180.00
Base / Options
Code Description Qty List Price Adjusted Selling Price
9118 12" HD bit 1 $610.28 $610.28
1008 SSL/CTL mounting plate 1 $800.00 $800.00
Total Base / Options $4,590.28 $4,590.28
Selling Price Subtotal $4,590.28
Total Selling Price $4,590.28
#16..
- 333 -
Sourcewell Attachment Discount 14%
Equipment Notes - - -
Hours - - -
Serial Number - - -
Stock Number - - -
PUK Parent Serial # - - -
QTY In Group : 1
Suggested List
($698.98)
Selling Price
($698.98)
Equipment Summary
Code Description Qty List Price Adjusted Selling Price
1 Deere 325G Compact
Attachments 1 ($698.98) ($698.98)
Total Base / Options ($698.98) ($698.98)
Selling Price Subtotal ($698.98)
Total Selling Price ($698.98)
#16..
- 334 -
Non-Sourcewell Items
Equipment Notes - - -
Hours - - -
Serial Number - - -
Stock Number - - -
PUK Parent Serial # - - -
QTY In Group : 1
Suggested List
$6,750.00
Selling Price
$6,750.00
Equipment Summary
Code Description Qty List Price Adjusted Selling Price
1 Freight 1 $4,500.00 $4,500.00
Base / Options
Code Description Qty List Price Adjusted Selling Price
PDI 1 $1,500.00 $1,500.00
Delivery 1 $750.00 $750.00
Total Base / Options $6,750.00 $6,750.00
Selling Price Subtotal $6,750.00
Total Selling Price $6,750.00
#16..
- 335 -
#16..
- 336 -
#16..
- 337 -
#16..
- 338 -
#16..
- 339 -
#16..
- 340 -
#16..
- 341 -
#16..
- 342 -
#16..
- 343 -
#16..
- 344 -
#16..
- 345 -
#16..
- 346 -
#16..
- 347 -
#16..
- 348 -
#16..
- 349 -
#16..
- 350 -
FINANCIAL INTEREST DISCLOSURE
Any contract award therewith will require approval by a majority vote of the City of Modesto’s City Council.
In order to have full transparency in any City of Modesto commercial actions, the City Council may not approve an agreement between the City and the Vendor until all person with a direct or indirect financial interest of greater than $2,000 in the Vendor are identified by name.
Vendor must therefore complete this Financial Interest Disclosure Form, listing by name all parties that have a material financial interest in the agreement, contract or development right.
PLEASE NOTE, any Council action that requires a Financial Interest Disclosure cannot be considered by the City Council until the required reporting is made. That means that City Council agenda items without the disclosure will be removed from the Council agenda.
Financial Interest Disclosure to City of Modesto
The Vendor shall identify any person with a financial interest in the Vendor by name, below.
For the purposes of this disclosure, a “Financial Interest” shall have the meaning contained in Modesto Municipal Code section 2-10.02.
Persons having an aggregate economic interest in the Vendor less than two thousand dollars ($2,000.00) at all times prior to final Council action of the proposed contract are not required to be listed on the Financial Interest Disclosure.
Notwithstanding the foregoing, a Financial Interest Disclosure is not required for a Vendor meeting the financial criteria for listing on the New York or the Pacific Stock exchanges unless it is reasonably foreseeable that a City Council decision will increase or decrease that entity's gross revenues or expenses by one million dollars ($1,000,000) or more and the requirements of Modesto Municipal Code Section 2-10.03(h) are satisfied.
It is the legal obligation of all applicants for approval of an agreement or of an application for development rights to verify in writing, under penalty of perjury, that the identity of each person having a material financial interest in the Vendor is true, correct and complete. By signing below, the applicant understands that this information is provided under penalty of perjury, and that intentionally supplying misinformation or deception may result in either invalidation of the agreement or application, or criminal prosecution for misdemeanor violation of the Modesto Municipal Code, or both. Negligent provision of misinformation shall be grounds for invalidation. In accordance with the Modesto Municipal Code, each applicant has a continuing obligation to maintain the truth, accuracy and completeness of the financial interest disclosure information provided below until after final consideration by the City Council of any matter arising out of or relating to the agreement or application.
#16..
- 351 -
Print Names of Persons Having a Financial Interest in Vendor Receiving this Agreement:
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
By signing this document, I agree to the information contained within.
Bidder Company Name:
Name of Vendor Signatory:
Signature of Vendor Representative:
#16..
- 352 -
California Levine Act Disclosure
California Government Code Section 84308, also known as the "Levine Act", prohibits City “officers” from participating in any action related to a license, permit, or other entitlement for use (a “proceeding”) if such member accepts, solicits, or directs political contributions from a party to the proceeding or their agent totaling more than $500 while the proceeding is pending before the agency, and for twelve (12) months following the date a decision concerning the proceeding has been made. The Levine Act also requires disclosure of such contribution by a party to the proceeding.
Section 84308(a)(4) of the Levine Act defines an "officer" as follows: “Officer” means any elected or appointed officer of an agency, any alternate to an elected or appointed officer of an agency, and any candidate for elective office in an agency. The term “officer” is further defined 2 Cal. Code Regs. Section 18438.1, which states:
An officer of an agency includes only those persons who make, participate in making, or in any way attempt to use their official position to influence a decision in the license, permit, or entitlement for use proceeding, or who exercise authority or budgetary control over the agency of officers who may do so, and:
(1) Serve in an elected position, including an official appointed to an elected position due to an interim vacancy or an election otherwise canceled because the official was the sole candidate for the position; (2) Serve as a member of a board or commission;
(3) Serve as the chief executive of a state agency, or county, city or district of any kind; or (4)Have decision making authority with respect to the proceeding involving a license, permit, or other entitlement for use and is also a candidate for elected office or has been a candidate for elective office in the 12 months prior to the proceeding.
A list of Modesto City Council Board Members can be found online at: Modesto City Council https://modestogov.com/706/Council-Members (modestogov.com). The party making this certification is responsible for determining whether a recipient of a political contribution is a City officer prior to answering the following questions:
1. Have you, your company, or any agent on behalf of you or your company, made any political contributions of more than $500 to any City officer, in the twelve (12) months preceding the date of the submission of your proposals or the anticipated date of any Council action related to this contract?
___ YES If yes, please identify the Council Member(s):
___ NO
2. Do you, or your company, or any agent on behalf of you or your company, anticipate or plan to make any political contribution of more than $500 to any City officer in the twelve (12) months following any Council action related to this contract?
___ YES If yes, please identify the Council Member(s):
___ NO
#16..
- 353 -
Answering YES to either of the questions above does not preclude the City of Modesto from awarding a contract to your firm or taking any subsequent action related to the contract. It may, however, preclude the identified City officer from participating in any actions related to such contract.
HEREBY CERTIFY UNDER PENALTY OF PERJURY UNDER THE LAWS OF THE STATE OF CALIFORNIA THAT THE FOREGOING IS TRUE AND CORRECT.
_________________ _____________________________
Date Signature of authorized individual
_____________________________
Company/Applicant Name
#16..
- 354 -
!
"#
$%
&
'(
'
)*')%
+,-
- -
/ .
- 0
/ /
- 1
/ .
- 0 . -2
'
3 4,,/
/ 50
/ /6
/ 21
5 /
/ 76
/ /
/ 20
/
/0
*
# (
8
9+1
1 7
1 :
1 5
: /
1 0
1 .
1 2 5 15
(
;,,0
6 .
7 5
6 6
7 .
7 0
7 0
7 : 6 67 8
3 '
+,-
- /
- 2
- .
/ .
- 6
/ .
- 0 2 -2
#
( 9+1
1 1
1 -
: 2
: 6
1 6
: 2
: : 6 1- <
+,-
- -
- 2
- .
- 2
- 2
- -
- . 5 -2
=
>
$%
'
?,,2
2 7-
2 17
2 15
2 :-
2 /0
2 12
2 -.
15 27
@
'
6 ; , :76/6706625756626716621 6-1
)
8 > ;4 ;4;;;AB ;+;, C
D(
D
=E
(
8"=
3
F
>
@ $@
G
#
$%
'(
'
)*'
)%
+,-
- /
/ /
/ 1
- 6
- 2
- 5
2 -
'
3 4,,/
/ -6
5 -/
/ 1:
/ /1
/ 50
/ -.
50 /-
*
# (
8
9+1
1 5
: /
: :
1 7
: 5
: :
0 1-
(
;,,6
6 .
7 /
7 /
6 :
6 2
7 .
0 6: 8
3 '
+,-
- 2
/ /
/ :
- 7
- 2
- 2
5 -/
#
( 9+1
1 :
: /
: 1
1 6
1 .
1 .
. 1- <
+,-
- 5
- /
- .
- /
- 2
- -
5 -
=
>
$%
'
?,,2
2 :-
2 1
2 -1
2 1:
2 :-
2 :6
16 2:0
@
'
6 ; , /:6-77.16.06.065.65. 6/7
)
8 > A? ;9;?+;?+9+9+ +
HIJKL
MNKOPQR
STUR
VUR
TQNWXKJKYZ
[KI\]YO^LZ
U_W`IKO
UXaNbR
STcR
QNWXKJKYZ
]IO^LZ
SIQNO
HIWPLNYR
TQNWXKJKYZ
]IO^LZ
c_OdIe_LNYR
STfR
ghiTjS R
QNWXKJKYZ
]IO^LZ
'
$
$%
k)
@
3
)*'l,;9?C
mnopqrst
u vwxny
zm{|}~u
u ~ | m || #16..
- 355 -
CITY OF MODESTO
COUNCIL AGENDA REPORT
DATE OF MEETING:
July 14, 2026
Date: June 23, 2026
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: Pipe Saddles Agreement
CONTACT: Dianne Love, Purchasing Manager, [email protected], 209-571- 5174
DESCRIPTION:
Consider approving an Agreement for the purchase of Pipe Saddles to Pace Supply, Sacramento, CA for a total amount not to exceed $225,587 over five (5) years. (Funding Source: Water Fund)
STRATEGIC PLAN ELEMENT:
The recommended action supports the 2025-2026 City of Modesto Strategic Plan Area:
Governance and Service Delivery: “build community trust in City government through responsive, transparent and efficient service delivery”; Goal J “build a high-performance organization”.
BACKGROUND:
The Finance Department, Central Stores Division inventories pipe saddle materials, supplies and equipment for the Utilities Department, Water Division for the use in setup and repair and installation of water main lines.
Competitively bidding and inventorying these products benefits the City in ways including the following:
• Obtaining best pricing through economies of scale
• Products readily available in one location
• Staff time reduction in processing one-time bids throughout the year #17..
- 356 -
City Council, July 14, 2026
Pipe Saddles Agreement
On May 17, 2023, Request for Bid No. Informal (RFB-INF) 23-19 solicited the procurement of Pipe Saddles.
On June 15, 2023, the Purchasing Division awarded Ferguson Waterworks, Modesto, CA a purchasing agreement for Pipe Saddles for a one-year with one (1) one-year extension option for an estimated annual amount of $24,000 and a total amount not to exceed $48,000 over two (2) years.
On June 18, 2024, the City Manager approved a First Amendment with Ferguson Waterworks, Modesto, CA to the Purchasing Agreement for the purchase of Pipe Saddles, by increasing the total paid by the City to Vendor over the full term of the Agreement shall not to exceed $100,000 over the full term of the Agreement.
On July 9, 2025, the City Manager approved a Second Amendment with Ferguson Waterworks, Modesto, CA, by extending the term of the agreement for an additional oneyear period through June 14, 2026.
DISCUSSION:
On October 9, 2025, the City Manager authorized the Purchasing Manager to solicit the procurement for Pipe Saddles. On February 3, 2026, the Purchasing Division issued Invitation to Bids (IFB)-00051, Pipe Saddles, on the City’s OpenGov public bidding website under various commodity codes1. Prospective bidders were notified online, which included 478 vendors and five (5) local vendors via email of the bid opportunity. 33 companies downloaded the IFB document from OpenGov and five (5) were local vendors.
On March 3, 2026, bids were formally opened by the City Clerk and broadcast via Microsoft Teams Livestream. Three (3) chose to respond, there was one (1) local bid received. Based on providing the lowest responsive and responsible bid, City staff recommended to award the purchase of Pipe Saddles to Pace Supply, Sacramento, CA for a one (1) year agreement with four (4) one-year extension options for an estimated annual amount of $45,117 and a total amount not to exceed $225,587 over five (5) years.
Modesto Municipal Code Section 8.3.203 generally requires all purchases, which meet or exceed $100,000 for material, equipment, or contractual services to follow the formal bid procedures. An Award of Bid and Agreement for the purchase of Pipe Saddles for Finance use to Pace Supply, Sacramento, CA conforms to the Modesto Municipal Code because the City complied with the formal bid procedures and Pace Supply, Sacramento, CA was the lowest responsive and responsible bidder.
1 57800 Miscellaneous Products
65800 Pipe, Tubing, and Accessories (Not Fittings)
65900 Pipe and Tubing Fittings
89000 Water Supply, Groundwater, Sewage Treatment and Related Equipment (Not for Air Conditioning, Steam Boiler, or Laboratory Reagent Water)
89087 Water Treatment Equipment (Not Otherwise Classified) #17..
- 357 -
City Council, July 14, 2026
Pipe Saddles Agreement
FISCAL IMPACT:
Expenditures over the past (3) three years for the purchase of Pipe Saddles under the current agreement is listed below:
Agreement Year Total
Year 1 $37,649
Year 2 $33,470
Year 3 (YTD) $28,259
Grand Total $99,378
The table below shows the projected expenditures, with the first year fixed and a 5.8% increase annually in years (2) two through five (5).
Agreement Year Total
Year 1 $40,000
Year 2 $42,320
Year 3 $44,775
Year 4 $47,372
Year 5 $51,120
Grand Total $225,587
The overall agreement total was calculated by forecasting CPI percentage increases based on an average of the CPI index over the last twelve (12) months. City staff project annual increases based on this estimated forecast. Annual increases will be calculated using the current CPI index at the time of the requested increase. The projected expenditures are included in the Fiscal Year 2026-27 Water Fund operating budget.
CEQA/NEPA REQUIREMENTS:
This item does not constitute a “project” within the meaning of California Environmental Quality Act (CEQA) Guidelines Section 15378 and requires no environmental review.
COMMITTEE RECOMMENDATION:
This item was presented to the Finance Committee on June 22, 2026, and the Committee recommended forwarding the item to Council for approval.
RECOMMENDED COMMITTEE ACTION:
Staff Recommendations:
Resolution approving the Award of Bid and Agreement for the purchase of Pipe Saddles to Pace Supply, Sacramento, CA, for one (1) year agreement with four (4) one-year extension options, for an estimated annual amount of $45,117 and a total amount not to exceed $225,587 over five (5) years and authorizing the Director of Finance, or her designee to execute the Agreement.
#17..
- 358 -
City Council, July 14, 2026
Pipe Saddles Agreement
Approved by:
DeAnna Christensen, Director of Finance
Joseph P. Lopez, City Manager
Attachments:
1. Resolution
2. Agreement – Pace Supply
3. Exhibit B – Bid Submittal
4. Exhibit C – IFB-00051
5. Exhibit D – Price Schedule
6. Cost Abstract
7. CA Levine Act
#17..
- 359 -
07/14/2026/Finance/DLove/Item X 1 2026-XX
MODESTO CITY COUNCIL
RESOLUTION NO. 2026-XX
RESOLUTION APPROVING THE AWARD OF BID AND AGREEMENT FOR
THE PURCHASE OF PIPE SADDLES TO PACE SUPPLY, SACRAMENTO, CA FOR ONE (1) YEAR AGREEMENT WITH FOUR (4) ONE-YEAR EXTENSION OPTIONS, FOR AN ESTIMATED ANNUAL AMOUNT OF $45,117 AND A TOTAL AMOUNT NOT TO EXCEED $225,587 OVER FIVE (5) YEARS AND
AUTHORIZING THE DIRECTOR OF FINANCE, OR HER DESIGNEE TO
EXECUTE THE AGREEMENT
WHEREAS, the Finance Department, Central Stores Division inventories pipe saddle materials, supplies and equipment for the Utilities Department, Water Division for the use in setup and repair and installation of water main lines, and WHEREAS, competitively bidding and inventorying these products benefits the City, and
WHEREAS, on May 17, 2023, Request for Bid No. Informal (RFB-INF) 23- 19 solicited the procurement of Pipe Saddles, and
WHEREAS, on June 15, 2023, the Purchasing Division awarded Ferguson Waterworkd, Modesto, CA a purchasing agreement for Pipe Saddles for a one - year with one (1) one-year extension option for an estimated annual amount of $24,000 and a total amount not to exceed $48,000 over two (2) years, and WHEREAS, on June 18, 2024, the City Manager approved a First Amendment with Ferguson Waterworks, Modesto, CA to the Purchasing Agreement for the purchase of Pipe Saddles, by increasing the total paid by the City to Vendor over the full term of the Agreement shall not exceed $100,000 over the full term of the Agreement, and
#17..
- 360 -
07/14/2026/Finance/DLove/Item X 2 2026-XX
WHEREAS, on July 9, 2025, the City Manager approved a Second Amendment with Ferguson Waterworks, Modesto, CA, by extending the term of the agreement for an additional one-year period through June 14, 2026, and WHEREAS, on October 9, 2025, the City Manager authorized the Purchasing Manager to solicit the procurement for Pipe Saddles. On February 3, 2026, the Purchasing Division issued Invitation to Bids (IFB)-00051, Pipe Saddles, on the City’s OpenGov public bidding website under various commodity codes. Prospective bidders were notified online, which included 478 vendors and five (5) local vendors via email of the bid opportunity. 33 companies downloaded the IFB document from OpenGov and five (5) were local vendors, and WHEREAS, on March 3, 2026, bids were formally opened by the City Clerk and broadcast via Microsoft Teams Livestream. Three (3) chose to respond, there was one (1) local bid received. Based on providing the lowest responsive and responsible bid, City staff recommended to award the purchase of Pipe Saddles to Pace Supply Sacramento, CA for a one (1) year agreement with four (4) one-year extension options for an estimated annual amount of $45,117 and a total amount not to exceed $225,587 over five (5) years; and WHEREAS, Modesto Municipal Code Section 8.3.203 generally requires all purchases, which meet or exceed $100,000 for material, equipment, or contractual services to follow the formal bid procedures. An Award of Bid and Agreement for the purchase of Pipe Saddles for Finance use to Pace Supply Sacramento, CA conforms to the Modesto Municipal Code because the City #17..
- 361 -
07/14/2026/Finance/DLove/Item X 3 2026-XX
complied with the formal bid procedures and Pace Supply Sacramento, CA was the lowest responsive and responsible bidder.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the Award of Bid and Agreement for the purchase of Pipe Saddles to Pace Supply, Sacramento, CA, for one (1) year agreement with four (4) one-year extension options, for an estimated annual amount of $45,117 and a total amount not to exceed $225,587 over five (5) years.
BE IT FURTHER RESOLVED that the Director of Finance, or her designee is hereby authorized to execute the Agreement in a form approved by the City Attorney.
#17..
- 362 -
07/14/2026/Finance/DLove/Item X 4 2026-XX
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on 14th day of July, 2026, by _________________, who moved its adoption, which motion being duly seconded by _______________, 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
#17..
- 363 -
1 ANNUAL PURCHASE AGREEMENT
PACE SUPPLY CORPORATION - AGREEMENT #322929
This agreement, hereinafter called AGREEMENT, made and entered into in the City of Modesto, State of California, this _______ day of ________________, 2026, by and between the City of Modesto, a municipal corporation of the State of California, hereinafter called CITY, and Pace Supply Corp, a California corporation, hereinafter called VENDOR,
WHEREAS, the Modesto City Council adopted Resolution No. 2026 - ______ authorizing the Award of Bid and agreement for Pipe Saddles materials, supplies or equipment described herein (the “GOODS”) to VENDOR, attached hereto as Exhibit “A” and made a part hereof, and WHEREAS, the VENDOR provided a responsive and responsible submittal that best meets the CITY needs, attached hereto as Exhibit “B” and made a part hereof, and WHEREAS, the CITY and VENDOR shall enter into an agreement for the Pipe Saddles as described in IFB-00051, attached hereto as Exhibit “C” and made a part hereof, and NOW, THEREFORE, the parties hereto mutually agree as follows:
1. TERM OF AGREEMENT:
The term of the AGREEMENT shall be for a period of one (1) year, with four (4) one-year extension options at the sole discretion of City, for a total of up to five (5) years.
Year 1: July 01, 2026 through June 30, 2027
Year 2: July 01, 2027 through June 30, 2028
Year 3: July 01, 2028 through June 30, 2029
Year 4: July 01, 2029 through June 30, 2030
Year 5: July 01, 2030 through June 30, 2031
#17..
- 364 -
2 2. PRICING:
A. Per the aforementioned Council Resolution, the annual estimated amount of the AGREEMENT is $45,117. The total amount paid by CITY to VENDOR over the full term of the AGREEMENT shall not exceed $225,587.
B. The AGREEMENT pricing is attached hereto as Exhibit D. Pricing during AGREEMENT Year one shall be as set forth in Exhibit D, attached hereto and made a part hereof by this reference.
C. The CITY and VENDOR may agree to update the products and prices contained in Exhibit D to add, remove, or substitute items, or change pricing. All changes shall be in writing and approved by the Finance Director.
D. Pricing shall remain firm for one (1) year of the AGREEMENT.
E. Price increases for each subsequent AGREEMENT years two, three, four, and five, shall be negotiated in good faith by the parties, but in no instance may exceed the net percentage increase during the prior 12-month period in the Federal Bureau of Labor Statistics’ Producer Price Index (PPI) Series ID: PCU3329133329136 (Plumbing fixture fitting and trim manufacturing - Miscellaneous metal and nonmetal plumbing fixtures, fittings, and trim, not seasonally adjusted).
Requests for price increases in any renewal year shall be submitted by VENDOR in writing at least ninety (90) days prior to the annual anniversary date of the AGREEMENT.
3. USAGE:
Vendor shall provide whatever quantities may be required during the term of this Agreement. No minimum or maximum quantities are guaranteed or implied by CITY.
4. ORDERING:
Vendor shall deliver GOODS to the location specified within CITY’s purchase order. Unless specified by the Purchasing Division, no GOODS may be delivered to CITY unless a purchase order has been provided by CITY to VENDOR.
5. PAYMENT:
All invoices shall be paid in full by CITY after completion and acceptance of the GOODS by the City, and receipt of a properly prepared invoice submitted by VENDOR via email to [email protected]. As specified by the Purchasing Division, every invoice must reference this AGREEMENT number or CITY’s purchase order number. VENDOR will be paid by CITY via Net 30 terms via CITY's ePay Program.
6. AMENDMENTS:
No changes to this AGREEMENT shall be effective unless documented by a written amendment to this AGREEMENT and signed by the parties hereto with CITY represented by the Purchasing Division. #17..
- 365 -
3 7. TERMINATION:
A. In the event either party fails to perform under this AGREEMENT or breaches any condition contained herein, the other party shall notify in writing the breaching party of the non-performance.
Within thirty (30) days after receipt of notification, the breaching party shall correct any nonperformance to the reasonable satisfaction of the non-breaching party. Failure to correct any nonperformance shall allow the non-breaching party to terminate this AGREEMENT for cause.
B. CITY may terminate this AGREEMENT for convenience upon thirty (30) days prior notice to VENDOR by CITY’s authorized employee.
8. INSPECTION:
All GOODS are subject to inspection and testing by the CITY for compliance with specifications as included herein, within a reasonable time after delivery. In the event GOODS are defective or not in conformity with this AGREEMENT or CITY’s purchase order, the CITY shall have the right to either reject the GOODS or require correction. Defective articles or services shall be removed from CITY premises and/or corrected by and at the expense of VENDOR; provided that should the VENDOR fail, neglect or refuse to do so, the CITY shall thereupon have the right to purchase in the open market, in lieu thereof, a corresponding quantity of any such items. CITY may deduct from any moneys due or that may there after coming due to VENDOR or send an invoice to the VENDOR which shall be paid within thirty (30) days, the difference between the prices named in the contract or purchase order and the actual cost thereof to the CITY. In the event that the VENDOR fails to make prompt delivery as specified for any item, the same conditions as to the rights of the CITY to purchase in the open market and to reimbursement set forth above shall apply, except when delivery is delayed by fire, strike, freight embargo, or Act of God or the government. Cost of inspection or deliveries or offers for delivery, which do not meet specifications, will be borne by the Bidder. Failure by CITY to inspect and accept or reject shall not relieve the VENDOR from responsibility for compliance with specifications. Final acceptance shall be conclusive except as regards to latent defects, fraud, or such gross mistakes as amount to fraud.
9. RESPONSIBILITY:
Unless otherwise specified, the VENDOR shall be responsible for all GOODS until delivered at CITY’s designated delivery point and shall bear all risks as to items rejected or requiring correction after notice of such rejection or correction is given.
10. SHIPMENT:
Unless otherwise authorized by CITY’s Purchasing Division, GOODS shall be delivered F.O.B.
Destination Freight Prepaid and Included in Price of GOODS. VENDOR may not collect freight collect or charge shipping expenses otherwise to CITY. Original receipted freight bill must accompany the invoice. Shipment must be made within the time stated on Purchase Order, failing which CITY reserves the right to purchase elsewhere and charge VENDOR with any loss incurred, unless delay in making shipment is due to unforeseeable causes beyond the control and without the fault or negligence of VENDOR.
#17..
- 366 -
4 11. CHANGES:
The AGREEMENT or purchase order may at any time, by written order of the CITY, be changed in regard to the GOODS to be furnished, quantities ordered, unit price, discount, delivery point or arrangements, terms or any other matters affecting a valid purchase order or AGREEMENT. In the event such change causes an increase or decrease in the cost of performance hereunder, and equitable adjustment will be made for the cost thereof, subject to the approval of the Purchasing Manager, and written notice given, therefore.
12. WARRANTY:
Notwithstanding any other provisions of the purchase order, VENDOR warranties for the GOODS shall extend for 90 days after delivery thereof to CITY, shall meet or exceed all original manufacturer warranties, and that GOODS shall be of the most suitable grade as specified in this AGREEMENT, VENDOR’s own marketing materials and in the purchase order. Moreover, VENDOR warrants and represents that GOODS shall comply with warranties of merchantability and fitness for a particular purpose. If a defect is discovered in any GOODS covered in this AGREEMENT, VENDOR shall correct at its expense, including transportation/freight, such defects as are reported within one year of final acceptance.
13. INSURANCE:
Any AGREEMENT or purchase order where work, maintenance, or service is performed on CITY property requires appropriate insurance. VENDOR shall ensure proper insurance certificates are on file with the CITY prior to performing onsite work. Contact CITY’s Purchasing Division to verify the type of insurance required.
14. TAX EXEMPTIONS:
The CITY is exempt from payment of federal excise tax. All invoices shall be exclusive of such excise tax. Moreover, if the CITY’s purchase is not subject to sales tax, the statement for resale will appear in the body of the purchase order.
15. INDEMNITIES:
A. VENDOR agrees to protect, indemnify and save harmless CITY and its agents, officers, employees, and volunteers from any claim, loss or damage from VENDOR’s, or the GOODs’, infringement of trademarks, patents, copyrights and unfair competition action with to any third party.
B. VENDOR shall hold the CITY and its agents, officers, employees, and volunteers, harmless from and save, defend and indemnify them against any and all claims, losses, liabilities, judgments or damages from every cause, including but not limited to injury to person or property or wrongful death, including reasonable costs and expenses of defense of any judicial or administrative action, arising directly or indirectly out of any negligent or intentional act or omission of VENDOR, or its agents, officers, employees, or subcontractors relating to or during the performance of its obligations under this AGREEMENT, except for claims arising from the willful or active #17..
- 367 -
5 negligence of the CITY. VENDOR’s obligation to defend, indemnify, and hold the city, its agents, officers, and employees harmless under the provisions of this paragraph is not limited to or restricted by any requirement for VENDOR to procure and maintain a policy of insurance VENDOR.
16. GOVERNING LAW:
This AGREEMENT shall be deemed made in, governed by, performed in, and construed and enforced in accordance with the laws of the State of California, U.S.A., without giving effect to its conflicts of law provisions or principles.
17. VENUE:
Venue for any dispute or claim arising or related to this AGREEMENT its performance, breach, or interpretation (including issues about its validity or enforceability), shall be exclusively in the Superior Court of Stanislaus County or the United States District Court for the Eastern District of California.
18. ATTORNEY'S FEES:
If a party to this AGREEMENT brings any action, including an action for declaratory relief, to enforce or interpret the provision of this AGREEMENT, the prevailing party shall be entitled to reasonable attorneys’ fees in addition to any other relief to which that party may be entitled. The court may set such fees in the same action or in a separate action brought for that purpose.
19. LIMITATION OF LIABILITY:
The CITY shall not be responsible for any damage that may accrue by reason of the death or injury of the person of the VENDOR’s officers, agents, employees, invitees, or licensees, or be set up at any time because of personal injury or damage to property sustained by any other person or persons, which may have been caused or contributed to, approximately or remotely, by reason of or in the course of performance of the AGREEMENT. The VENDOR shall assume full responsibility for the defense of any claims arising under the AGREEMENT and the VENDOR shall save, keep, and bear harmless the CITY, all officers and employees thereof, from all damages, costs, or expenses because of personal injury or property damage based on the performance of this AGREEMENT or asserted against it.
20. NOTICES:
Any notice, payment or instrument required or permitted by this AGREEMENT to be given or delivered to either party shall be deemed to have been received when personally delivered, or one calendar week following deposit of the same in any United States Post Office, registered or certified mail, postage prepaid, addressed as follows:
#17..
- 368 -
6 VENDOR: Pace Supply Corp
Attention: Bernie Howell
4015 Newton Road
Stockton, CA 95205
(559) 246-8104
[email protected]
CITY: City of Modesto
Purchasing Division
Attention: Melvin Rosal
P.O. Box 642
Modesto, CA 95353
(209) 577-5405 [email protected]
Each party may change its address for delivery of notice by delivering written notice of such change of address to the other party.
21. ASSIGNMENT:
Neither this AGREEMENT nor any portion hereof shall be subcontracted or assigned without the written consent of the CITY in each and every instance.
22. MISCELLANEOUS:
Time is of the essence in each and every provision of this AGREEMENT.
23. ENTIRE AGREEMENT:
This AGREEMENT and its exhibits contain the entire understanding between VENDOR and CITY.
Additional or new terms contained in this AGREEMENT which vary from VENDOR’S bid are controlling and are deemed accepted by VENDOR by provision of any GOODS or other commencement of performance hereunder. The terms and conditions of the IFB, attached hereto as Exhibit C, are incorporated herein. In the event of a conflict between the IFB and this AGREEMENT, this AGREEMENT shall control. All previous bids, offers and communications relative to this AGREEMENT, whether oral or written, are hereby superseded except to the extent that they have been incorporated into this AGREEMENT. No future waiver or exception to any of the terms, conditions, and provisions of this AGREEMENT shall be considered valid unless specifically agreed to in writing by the parties.
24. PARTIAL INVALIDITY:
If any provision in this AGREEMENT is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions shall nevertheless continue in full force without being impaired or invalidated in any way.
#17..
- 369 -
7 IN WITNESS WHEREOF, the CITY OF MODESTO, a municipal corporation, has authorized the execution of this AGREEMENT by its Director of Finance under authority of Resolution No. 2026-____ adopted by the Council of the City of Modesto on the 14th day of July, 2026 and Pace Supply Corp, has caused this Agreement to be duly executed.
#17..
- 370 -
City of Modesto, CA Finance DeAnna Christensen, Director of Finance PO BOX 642, Modesto, CA 95353 [PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles RESPONSE DEADLINE: March 3, 2026 at 11:00 am Report Generated: Monday, March 23, 2026 PACE SUPPLY Response CONTACT INFORMATION Company: PACE SUPPLY Email: [email protected] Contact: Steven Wright Address: 8400 24th Avenue Sacramento, CA 95826 Phone: (916) 343-9437 Website: www.pacesupply.com Submission Date: Feb 23, 2026 1:22 PM (Pacific Time) #17..
- 371 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 2 ADDENDA CONFIRMATION Addendum #1 Confirmed Feb 23, 2026 11:47 AM by Steven Wright QUESTIONNAIRE 1. Acknowledgements IFB ACKNOWLEDGEMENT* The Bidder submitting acknowledges receipt of the referenced IFB and/or Addenda and offers and agrees to provide the goods f, this includes any forms for the pricing proposed on the Pricing Schedule. By checking the "please confirm" box below, you acknowledge the above statement. Confirmed PREPARATION OF BIDS* Bidder acknowledges that they have quoted price as specified in Bid. No alterations or changes of any kind shall be permitted to the Pricing Schedule as provided. Responses that do not comply shall be subject to rejection in total. By checking the "please confirm" box below, you acknowledge the above statement. Confirmed TAXES AND FREIGHT CHARGES* Bidder acknowledges that: A. Unless otherwise required and specified in the IFB, the prices quoted herein do not include Sales, Use or other taxes. #17..
- 372 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 3B. No charge for delivery, drayage, express, parcel post packing, cartage, insurance, license fees, permits, costs of bonds, or for any other purpose, except taxes legally payable by City, will be paid by the City unless expressly included and itemized in the Bid. C. Amount paid for transportation of property to the City is exempt from Federal Transportation Tax. An exemption certificate is not required where the shipping paper shows the consignee as one (1) of the City; as such papers may be accepted by the carrier as proof of the exempt character of the shipment. D. Articles sold to the City are exempt from certain Federal excise taxes. The City will furnish an exemption certificate. By checking the "please confirm" box below, you acknowledge the above statement. Confirmed AWARD* Bidder Acknowledges that: A. Unless otherwise specified by the Bidder or the IFB gives notice of an all-or-none award, the City may accept any item or group of items of any Bid. B. Bids are subject to acceptance by the City at any time within 60 days of opening, unless otherwise specified in the IFB. A Bidder shall not change its bid if accepted within such time. C. A valid, contract based on the sample agreement attached to the IFB and the submitted bid shall be mailed, or otherwise furnished, to the successful Bidder within the time for acceptance specified, and such contract shall be a binding agreement without further action by either party. The contract shall be interpreted, construed and given effect in all respects according to the laws of the State of California. By checking the "please confirm" box below, you acknowledge the above statement. Confirmed PATENT INDEMNITY* Bidder Acknowledges:
#17..
- 373 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles Bidders who do business with the City shall hold the City, its officers, agents and employees, harmless from liability of any nature of kind, including cost and expenses, for infringement or use of any patent, copyright or other proprietary right, secret process, patented or unpatented invention, article or appliance furnished or used in connection with the Agreement or Purchase Order. By checking the "please confirm" box below, you acknowledge the above statement. Confirmed SAMPLES* Bidder Acknowledges: Samples of items, when required, shall be furnished free of expense to the City and if not destroyed by test may upon request (made when the sample is furnished), be returned at the bidder's expense. By checking the "please confirm" box below, you acknowledge the above statement. Confirmed RIGHTS AND REMEDIES OF CITY FOR DEFAULT* Bidder Acknowledges: [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 4A. In the event any item furnished by the Bidder in the performance of the contract or purchase order should fail to conform to the specifications therefore or to the sample submitted by the Bidder with its Bid, the City may reject the same, and it shall thereupon become the duty of the Bidder to reclaim and remove the same forthwith, without expense to the City, and immediately to replace all such rejected items with others conforming to such specifications or samples; provided that should the Bidder fail, neglect or refuse to do so, the City shall thereupon have the right to purchase in the open market, in lieu thereof, a corresponding quantity of any such items. City may deduct from any moneys due or that may there after come due to Bidder, or send an invoice to the Bidder which shall be paid within thirty (30) days, the difference between the prices named in the contract or purchase order and the actual cost thereof to the City. In the event that the Bidder fails to make prompt delivery as specified for any item, the same conditions as to the rights of the City to purchase in the open market and to reimbursement set forth above shall apply, except when delivery is delayed by fire, strike, freight embargo, or Act of God or the government. #17..
- 374 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 5B. Cost of inspection or deliveries or offers for delivery, which do not meet specifications, will be borne by the Bidder. C. The rights and remedies of the City provided above shall not be exclusive and are in addition to any other rights and remedies provided by law or under the contract. By checking the "please confirm" box below, you acknowledge the above statement. Confirmed PAYMENT TERMS AND METHODS* BIDDER IS ABLE TO CHOOSE FROM EITHER OF THE FOLLOWING PAYMENT METHODS AND ASSOCIATED TIMINGS: Option A (Preferred): City of Modesto ePay Payment: receive a single-use Master Card number with a detailed remittance for each payment. You will process the payment though your POS/Card terminal. The payment remittance will be sent from [email protected] via email and will contain the following information: 16-digit credit card number Expiration date Security code Total dollar amount of invoices to be paid Invoices reference numbers and corresponding amounts ePay results in small percentage rebate of 1.0% to the City through the card issuer. That rebate amount will be considered by the City n about enrolling in MasterCard ePay program can be obtained Option B Manual Check: On net 45 day timing, the City will mail a hardcopy check to the bidder. The payment will be deemed to have been made when the check envelope is mailed via US Postal Service First Class Mail. The timing of the mailing will be at the end of the net 45 day #17..
- 375 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles period. Additional time should be estimated by the bidder for the check to be in transit, and to await deposit and clearance by bidder staff. Option A - ePay (Preferred) DID YOU CHOOSE THE PAYMENT TERM - OPTION A - EPAY?* Yes PLEASE ENTER THE PREFERRED EMAIL ADDRESS TO SET UP EPAY.* [email protected] CALIFORNIA GOVERNMENT CODE SECTION 4552* Bidder Acknowledges: In submitting a Bid to the City, the Bidder offers and agrees that if the Bid is accepted, it will assign to the City all rights, title and interest in and to all causes of action it may have under Section 4 of the Clayton Act (15 U.S.C. SEC.15) or under the Cartwright Act (Chapter 2, commencing with Section 16700, of Part 2 of Division 7 of the Business and Professions Code), arising from purchases of goods, materials, or services by the Bidder for sale to the purchasing body pursuant to the Bid. Such assignment shall be made and become effective at the time of the purchasing body tender's final payment to the bidder. By checking the "please confirm" box below, you acknowledge the above statement. Confirmed NO GUARANTEE OR WARRANTY* Bidder Acknowledges that: The City makes no guarantee or warranty as to the condition, completeness or safety of any material or equipment that may be traded under an Agreement or Purchase Order resulting from this Bid. By checking the "please confirm" box below, you acknowledge the above statement. [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 6 #17..
- 376 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles Confirmed MINOR IRREGULARITIES* Bidder Acknowledges that: The City reserves the right, in its sole discretion, to waive any informalities or minor irregularities in a Bid. By checking the "please confirm" box below, you acknowledge the above statement. Confirmed 2[PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 7 . Bidder Company Information BIDDER COMPANY FULL LEGAL NAME* Please provide the full legal name of the Bidder Company on this bid submittal. It may already be provided elsewhere, but please provide here to confirm. PACE SUPPLY CORP BIDDER COMPANY MARKETPLACE (OR DBA) NAME* Please provide the Company Marketplace Name or DBA (if applicable). It may already be provided elsewhere, but please provide here to confirm. NOTE: If the company is not operating under an additional name or a dba, then you may state "N/A" here. N/A TYPE OF LEGAL ENTITY* Is the Bidder Company a Corporation, Limited Liability Company, Partnership, or Sole Proprietorship? If the Bidder Company is something other than one of the above options, please answer "No" here and you will be asked to provide more information after this question. #17..
- 377 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles Yes TYPE OF LEGAL ENTITY - SELECT* Please select which of the following legal entity options under which the Bidder Company operates. Corporation LEGAL ENTITY STATE OF REGISTRATION* In which State is the Bidder Company registered? CALIFORNIA BIDDER COMPANY HEADQUARTERS ADDRESS* Please provide the full street address for the headquarters of the Bidder Company. Be sure to include the following: [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 8 Full Street Address City State Country Postal Code 1500 Valley House Drive, Suite #200 Rohnert Park California USA 94928 #17..
- 378 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles BIDDER COMPANY WEBSITE ADDRESS* Please provide the full company website address for the Bidder Company. www.pacesupply.com CONTACT PERSON DETAILS* Please provide the following information for the Contact person for this bid: [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 9 Name Title Phone (Office) Phone (Mobile) Mailing Address (Street Address, City, State, Postal Code) Fax Number Email Steven Wright Waterworks Sales 209-463-7593 916-343-9437 4015 Newton Road, Stockton, CA 95205 209-463-7595 [email protected] FEDERAL TAXPAYER IDENTIFICATION NUMBER (TIN)* #17..
- 379 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles Please provide the Bidder Company's Federal Taxpayer Identification Number here. 68-0335304 DUNS & BRADSTREET (DUNS) NUMBER Please provide the Bidder Company's Duns & Bradstreet (DUNS) Number here. 019909043 BIDDER OFFICER NAMES AND TITLES* Please provide the Names and Titles of the Top Three Bidder Officers in the following manner: [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 10 Full Name, Full Title Full Name, Full Title Full Name, Full Title Steven Wright, Waterworks Sales Bernie Howell, Waterworks Sales Rick Merri, Waterworks Valley Manager YEARS IN BUSINESS* For how long has the Bidder Company been in business? Please indicate in number of years. 32 CLOSEST BIDDER OFFICE* Please provide the address for the Bidder Office closest to the City of Modesto. Please be sure to provide: Full Street Address City #17..
- 380 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 11 State Country Postal Code 4015 Newton Road Stockton California USA 95205 CITY OF MODESTO BUSINESS LICENSE* Does the Bidder Company currently possess a valid City of Modesto Business License? NOTE: An answer of "No", does not exclude the bid from potential award as it is not required until the contract begins. No 3. City Forms BIDDER EXCEPTIONS, CLARIFICATIONS, AMENDMENTS* Does the Bidder have any exceptions, clarifications, or amendments to this IFB, sample agreement, or its associated specifications? No BIDDER CUSTOMER REFERENCES* Please download the below documents, complete, and upload. Bidder_Customer_References.pdf Bidder_Customer_References_(1).pdf #17..
- 381 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles FINANCIAL INTEREST DISCLOSURE* Please download the below documents, complete, and upload. [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 12 Financial_Interest_Disclosu... Financial_Interest_Disclosure__IFB.pdf LOCAL VENDOR?* Is the Bidder a local vendor as defined by the following requirement? To qualify as a local Bidder, the Bidder must have a physical business location within the City of Modesto and a current City of Modesto business license. No BIDDER COMPANY HISTORY STATEMENT* Please download the below documents, complete, and upload. Bidder_Company_History.docx Bidder_Company_History.docx BIDDER WARRANTY STATEMENTS* Please download the below documents, complete, and upload. Bidder_Warranty_Statements.pdf Bidder_Warranty_Statements.pdf SUBCONTRACTORS?* Will the Bidder be using subcontractors for any purpose to perform services noted in this IFB? No #17..
- 382 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles CALIFORNIA LEVINE ACT DISCLOSURE* Please download the below documents, complete, and upload. [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 13 Modesto_Levine_Act_Statemen... Modesto_Levine_Act_Statement_Form.pdf 4. Additional Bid Information ADDITIONAL INFORMATION (IF NEEDED) For any additional information requested or required by any of your previously provided answers or as stated within this IFB please upload the additional documentation here. MODESTO_INFO.pdf SUBMITTAL CONFIRMATION* Bidder hereby certifies that all information provided within this submittal is accurate to the best of their knowledge and acknowledges that they have provided proof of their authority to submit a proposal on behalf of the stated Company Name committing them to the information contained within said submittal. By checking the "please confirm" box below, you certify the above statement. Confirmed PRICE TABLES Line Item COM Part # Description Quantity Unit of Measure Unit Cost Total No Bid 1 125200 SADDLE BRONZE 4" X 2" IP AC 1 Each $140.61 $140.61 2 125220 SADDLE BRONZE 6" X 2" IP AC 19 Each $163.87 $3,113.53 #17..
- 383 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 14 Line Item COM Part # Description Quantity Unit of Measure Unit Cost Total No Bid 3 125240 SADDLE BRONZE 8" X 2" IP AC 20 Each $185.05 $3,701.00 4 125260 SADDLE BRONZE 10" X 2" IP AC 12 Each $253.93 $3,047.16 5 125270 SADDLE BRONZE 12" X 2" IP AC 1 Each $268.80 $268.80 6 125400 SADDLE BRONZE 4" X 2" IP C900 10 Each $108.50 $1,085.00 7 125410 SADDLE BRONZE 6" X 1" IP C900 32 Each $59.20 $1,894.40 8 125420 SADDLE BRONZE 6" X 2" IP C900 44 Each $111.71 $4,915.24 9 125430 SADDLE BRONZE 8" X 1" IP C900 140 Each $82.88 $11,603.20 10 125440 SADDLE BRONZE 8" X 2" IP C900 7 Each $127.55 $892.85 11 125455 SADDLE BRONZE 10" X 1" IP C900 11 Each $223.99 $2,463.89 12 125460 SADDLE BRONZE 10" X 2" IP C900 1 Each $223.99 $223.99 13 125470 SADDLE BRONZE 12" X 1" IP C900 6 Each $241.30 $1,447.80 14 125480 SADDLE BRONZE 12" X 2" IP C900 50 Each $241.30 $12,065.00 15 125600 SADDLE 4" X 2" IP ODS 1 Each $64.93 $64.93 16 125610 SADDLE, DI BODY TWO SS STRAPS IP 6" X 1" C900 - Epoxy Coated 1 Each $63.05 $63.05 17 125620 SADDLE 6" X 2" IP ODS 5 Each $80.11 $400.55 18 125640 SADDLE 8" X 2" IP ODS 1 Each $86.47 $86.47 19 125800 SADDLE CI/DI/C900/SDR 4" X 2" IP 4.50/4.80/5.40 - Epoxy Coated 6 Each $77.22 $463.32 20 125820 SADDLE CI/DI/C900/SDR 6" X 2" IP 6.63/6.90/7.60 - Epoxy Coated 14 Each $80.11 $1,121.54 21 125840 SADDLE CI/DI/C900/SDR 8" X 2" IP 1 Each $83.33 $83.33 #17..
- 384 -
[PACE SUPPLY] RESPONSE DOCUMENT REPORT IFB No. IFB-00051 Pipe Saddles [PACE SUPPLY] RESPONSE DOCUMENT REPORT Invitation For Bid - Pipe Saddles Page 15 Line Item COM Part # Description Quantity Unit of Measure Unit Cost Total No Bid 22 125520 SADDLE, DI BODY TWO SS STRAPS 16" X 2" IP 17.40, MIN RANGE 17.30-17.50 31 Each $113.49 $3,518.19 23 125890 SADDLE DI/POWERSEAL 10" X 2" 10.62-12.12 13 Each $87.46 $1,136.98 24 125895 SADDLE DI/POWERSEAL 12" X 2" 12.62-14.32 1 Each $96.95 $96.95 TOTAL $53,897.78 #17..
- 385 -
BIDDER CUSTOMER REFERENCES
Bidder must provide a list of five current or former customers able to discuss prior experience with similar type of services requested by the City in the above-referenced IFB. Bidder’s references shall have similar volume and requirements to the City of Modesto’s as described in the above-referenced IFB. Bidders failing to provide references may be deemed as non-responsive.
The City may contact some or all of the references provided in order to determine the Bidder’s performance record on services similar to that described in the above-referenced IFB. The City reserves the right to contact references other than those provided in Bidder’s submission and to use the information gained from them in the award process.
Company Name:
Address:
City, State, Zip Code:
Contact Person:
Email Address:
Telephone Number:
Type of Business or
Governmental Agency:
Date Range of Service:
Annual Contract Value $
Company Name:
Address:
City, State, Zip Code:
Contact Person:
Email Address:
Telephone Number:
Type of Business or
Governmental Agency:
Date Range of
Services:
Annual Contract Value $
#17..
- 386 -
Company Name:
Address:
City, State, Zip Code
Contact Person:
Email Address:
Telephone Number:
Type of Business or
Governmental Agency:
Date Range of
Services:
Annual Contract Value $
Company Name:
Address:
City, State, Zip Code
Contact Person:
Email Address:
Telephone Number:
Type of Business or
Governmental Agency:
Date Range of
Services:
Annual Contract Value $
Company Name:
Address:
City, State, Zip Code
Contact Person:
Email Address:
Telephone Number:
Type of Business or
Governmental Agency:
Date Range of
Services:
Annual Contract Value $
#17..
- 387 -
FINANCIAL INTEREST DISCLOSURE
Any contract award to result from this IFB process and Bidder’s submission of a Bid therewith will require approval by a majority vote of the City of Modesto’s City Council. In order to have full transparency in any City of Modesto commercial actions, the City Council may not approve an agreement between the City and the Bidder until all person with a direct or indirect financial interest of greater than $2,000 in the Bidder are identified by name.
Bidder must therefore complete this Financial Interest Disclosure Form, listing by name all parties that have a material financial interest in the agreement, contract or development right.
PLEASE NOTE, any Council action that requires a Financial Interest Disclosure cannot be considered by the City Council until the required reporting is made. That means that City Council agenda items without the disclosure will be removed from the Council agenda.
Financial Interest Disclosure to City of Modesto
The Bidder shall identify any person with a financial interest in the Bidder by name, below.
For the purposes of this disclosure, a “Financial Interest” shall have the meaning contained in Modesto Municipal Code section 2-10.02.
Persons having an aggregate economic interest in the Bidder less than two thousand dollars ($2,000.00) at all times prior to final Council action of the proposed contract are not required to be listed on the Financial Interest Disclosure.
Notwithstanding the foregoing, a Financial Interest Disclosure is not required for a Bidder meeting the financial criteria for listing on the New York or the Pacific Stock exchanges unless it is reasonably foreseeable that a City Council decision will increase or decrease that entity's gross revenues or expenses by one million dollars ($1,000,000) or more and the requirements of Modesto Municipal Code Section 2-10.03(h) are satisfied.
It is the legal obligation of all applicants for approval of an agreement or of an application for development rights to verify in writing, under penalty of perjury, that the identity of each person having a material financial interest in the Bidder is true, correct and complete. By signing below, the applicant understands that this information is provided under penalty of perjury, and that intentionally supplying misinformation or deception may result in either invalidation of the agreement or application, or criminal prosecution for misdemeanor violation of the Modesto Municipal Code, or both. Negligent provision of misinformation shall be grounds for invalidation. In accordance with the Modesto Municipal Code, each applicant has a continuing obligation to maintain the truth, accuracy and completeness of the financial interest disclosure information provided below until after final consideration by the City Council of any matter arising out of or relating to the agreement or application. #17..
- 388 -
Print Names of Persons Having a Financial Interest in Bidder Receiving this Agreement:
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
First Name, Last Name
By signing this document, I agree to the information contained within.
Bidder Company Name:
Name of Bidder Signatory:
Signature of Bidder Representative:
#17..
- 389 -
- BIDDER COMPANY HISTORY STATEMENT
Bidder shall have been in business for a minimum of three continuous years (immediately prior to the time of the goods and related services described in this Invitation for Bids (IFB). ew statement shall be approximately one to three pages in length and inserted below:
Bidder Company Legal Name:
PACE SUPPLY CORP
Insert Bidder Logo Here (if existent):
Insert Bidder Company History Overview Statement Beginning Here: Our Mission through a commitment to education and realized opportunities.
By offering unparalleled service and diverse products, we contribute to the prosperity of our customers, our team members, their families and the communities we serve.
At PACE Supply we have a shared responsibility to do business in ways that respect, protect and benefit our customers, employees, communities, suppliers and the environment. This responsibility informs everything we do to support Our People and Our Values.
Our People
#17..
- 390 -
- We believe strength is derived from the talents, ideas and experiences of our people. We believe in a workplace where all employees are valued and have the opportunity to reach their full potential is also a successful one.
Our Values
We know that competitive advantage and business growth are possible when we attract and retain the best talent. We do so by:
Attracting and retaining the best talent to drive sustainable business growth rporate responsibility
agenda
Division, (consisting of three branches Santa Rosa, Ukiah, and Napa). This acquisition resulted in PACE Supply Corp., an employee-owned and operated corporation. #17..
- 391 -
- mier Bath & Kitchen Showroom opened in Santa Rosa.
ves to a new building / warehouse.
Branch moves to a new building / warehouse.
#17..
- 392 -
-
branch opened.
mpleted
#17..
- 393 -
-
location opened
-80 location opened
SCO (future home of PACE Supply) in Fresno
#17..
- 394 -
-
#17..
- 395 -
BIDDER WARRANTY STATEMENTS
As a material part of its Bid, Bidder shall insert below a written statement detailing any materials and workmanship warranties, terms and conditions in conformance with the specifications and requirements set forth in this IFB.
Notwithstanding any other provisions of this IFB, Bidder warrants that the materials, supplies, or other services furnished under any contract or purchase order resulting from its Bid shall be on the most suitable grade and meet or exceed the standards set forth in this IFB. Such warranty shall include the following; performance, workmanship, labor, materials, and Bidder design or engineering contributions. If a defect is discovered in any item of the materials, assemblies, components, supplies or services covered in this Bid, Bidder shall correct at its sole expense, all such defects as are reported within 30 days of City’s final acceptance. Upon expiration of the applicable warranty period, all such liability shall terminate except for fraud or such gross mistakes as amount to fraud, latent defects, or specific failure to comply with the terms or any resultant purchase order.
All materials, parts, labor, assemblies and components shall by subject to the warranty conditions and terms unless specifically exempted in writing by the City of Modesto.
Bidder Company Legal Name: Insert Bidder Logo Here (if existent):
Insert Bidder Warranty Statement Beginning Here:
#17..
- 396 -
PACE Supply Corp
PACE Supply Corp. is a leading wholesale distributor of plumbing supplies. With our extensive instock inventory selection of plumbing supplies, pipe, valves, fittings, and more, you’ll find what you need when you need it. PACE Supply’s knowledgeable professionals are well attuned to the local market to meet your needs. Time is money. We’ll help you make the most of it.
With over 20 wholesale locations, and four Premier Bath & Kitchen showrooms in California and Hawaii, we’re proud to serve our customers internationally.
Our Mission
PACE Supply is dedicated to creating an environment that enhances our team members’ quality of life through a commitment to education and realized opportunities.
At PACE Supply we have a shared responsibility to do business in ways that respect, protect and benefit our customers, employees, communities, suppliers and the environment. This responsibility informs everything we do to support Our People and Our Values.
Our People
We believe strength is derived from the talents, ideas and experiences of our people. We believe in a workplace where all employees are valued and have the opportunity to reach their full potential is also a successful one.
Our Values
We know that competitive advantage and business growth are possible when we attract and retain the best talent. We do so by:
Attracting and retaining the best talent to drive sustainable business growth Leveraging the skills of our workforce to positively impact the communities where we live and work
Educating and engaging our employees so that they play a key part in our corporate responsibility agenda
#17..
- 397 -
#17..
- 398 -
#17..
- 399 -
#17..
- 400 -
#17..
- 401 -
#17..
- 402 -
Suite 200 Rohnert Park, CA 94928 707 755-2400 www.pacesupply.com Funds Transfer Information for Pace Supply Corp
Bank: Bank of America, N.A
Account number: 1499088000
Active ACH blocks on file: Yes
Routing number ACH/EFT: 121000358
Routing number for Domestic Wires: 026009593
SWIFT Code for International Wires: BOFAUS3N (in US dollars) BOFAUS6S (in foreign currency)
Account Name: Pace Supply Corp
Account Address: PO Box 6407
Rohnert Park, CA 94927
Please email any remittance advices or wire confirmations to [email protected] for prompt and accurate application of payment. #17..
- 403 -
Our Mission
PACE Supply is dedicated to creating an environment that enhances our team members’ quality of life through a commitment to education and realized opportunities.
By offering unparalleled service and diverse products, we contribute to the prosperity of our customers, our team members, their families and the communities we serve.
At PACE Supply we have a shared responsibility to do business in ways that respect, protect and benefit our customers, employees, communities, suppliers and the environment. This responsibility informs everything we do to support Our People and Our Values.
Our People
We believe strength is derived from the talents, ideas and experiences of our people. We believe in a workplace where all employees are valued and have the opportunity to reach their full potential is also a successful one.
Our Values
We know that competitive advantage and business growth are possible when we attract and retain the best talent. We do so by:
Attracting and retaining the best talent to drive sustainable business growth Leveraging the skills of our workforce to positively impact the communities where we live and work Educating and engaging our employees so that they play a key part in our corporate responsibility agenda
August 27, 1994
Our History
A few employees of Bell Industries, used their retirement money and bought the Plumbing Supply Division, (consisting of three branches Santa Rosa, Ukiah, and Napa). This acquisition resulted in PACE Supply Corp., an employee-owned and operated corporation.
PACE Supply is an acronym that stands for ” Plumbers And Construction Emporium” May 1996
San Rafael facility opened.
December 1996
Stockton branch opened.
September 2001
#17..
- 404 -
Premier Bath & Kitchen Showroom opened in Santa Rosa.
February 2002
Sacramento branch opened.
August 2004
PACE Supply Corp. Celebrates 10th Anniversary
March 2005
PACE Supply Corp. Headquarters opened in Santa Rosa.
September 2005
Napa Branch moves to a new building / warehouse.
December 2005
Ukiah Branch moves to a new building / warehouse.
August 2006
Yuba City Branch opened.
December 2007
San Rafael (Marin) Branch moves to a new building / warehouse.
April 2008
Stockton Branch moves to a new building / warehouse.
April 2009
Santa Clara branch opened.
May 2009
San Francisco branch opened.
June 2009
Oakland branch opened.
October 2010
Headquarters moved to Rohnert Park.
October 2012
San Carlos branch opened.
March 2014
Acquired Plumbing Unique (now Premier Bath and Kitchen) in Rancho Cordoba August 2014
PACE Supply Corp. Celebrates 20th Anniversary
December 2014
Stockton Distribution Center opened
January 2016
Stockton Pipe Yard completed
May 2016
Bakersfield branch opened
August 2016
Acquired Hawaii Pacific Plumbing on Hawaii, Maui and Oahu (now PACE Supply) December 2016
Acquired Premier Pump & Supply
January 2017
Premier Bath & Kitchen Walnut Creek location opened
April 2017
Sacramento I-80 location opened
May 2017
#17..
- 405 -
Dublin location opened
September 2017
Voted Best Places to Work. Employee Poll, North Bay Business Journal October 2017
San Jose branch opened
October 2017
Acquired PAMSCO (future home of PACE Supply) in Fresno
December 2017
International Sales Division formed
September 2018
Voted Best Places to Work 2018. Employee Poll. North Bay Business Journal #17..
- 406 -
#17..
- 407 -
* Please Note: 4" Saddles with 2" taps have a limited range. Specifically, 4.80"-5.10" or 5.10"-5.40". All other tap sizes have the standard 4.80"-5.40" range.
** Only the 6" (6.90"-7.50" range) saddle and 14" saddles and larger are available with a 1-1/4" tap. * To Order: Select the catalog number for the desired pipe range and complete the catalog number by adding the outlet thread tap code. Example: A double strap saddle for 6.90" D.I. pipe with a 3/4" CC thread would be 202B-750-CC3.
FEATURES
All brass conforms to AWWA Standard C800 (ASTM B62 and ASTM B584, UNS C83600, 85-5-5-5) Straps are 5/8" high quality silicon bronze flattened to provide a wider bearing surface against pipe Gasket is EPDM rubber per ASTM D2000
N . P
S
O.D.
R (I .)
A . W . L . C
N
S
I ( )
*4"
4.80 - 5.40 6.6 202B-540-TAP
4.80 - 5.10 7.3 202B-510-TAP
5.10 - 5.40 7.3 202B-540-TAP
**6" 6.90 - 7.50 7.7 202B-750-TAP
8" 9.05 - 9.62 8.8 202B-962-TAP
10" 11.10 - 12.12 10.7 202B-1212-TAP
12" 13.20 - 14.38 11.8 202B-1438-TAP
**14" 15.30 - 16.25 18.0 202B-1625-TAP
**16"
16.30 - 17.25 19.1 202B-1725-TAP
17.40 - 18.40 23.0 202B-1840-TAP
18.50 - 19.25 24.0 202B-1925-TAP
**18" 19.50 - 20.50 25.0 202B-2050-TAP
**20" 21.20 - 22.20 25.5 202B-2220-TAP
22.50 - 23.50 25.7 202B-2350-TAP
**24" 23.80 - 24.80 26.0 202B-2480-TAP
25.60 - 26.50 26.5 202B-2650-TAP
**30" 31.74 - 32.74 27.0 202B-3274-TAP
EPDM Gasket
Silicon Bronze Straps
4" - 12"
14" - 30"
Brass Nuts
The Ford Meter Box Company, Inc.
P.O. Box 443, Wabash, Indiana U.S.A. 46992-0443
Phone: 260-563-3171 / Fax: 800-826-3487
Overseas Fax: 260-563-0167
www.fordmeterbox.com
Submitted By:
The Ford Meter Box Company considers the information in this submittal form to be correct at the time of publication. Item and option availability, including specifications, are subject to change without notice. Please verify that your product information is current. Our standard warranty applies. 12/12/19
Brass Saddles - (202B-xxx-TAP style)
SUBMITTAL INFORMATION
202B DOUBLE STRAP BRASS SADDLES FOR AC AND DUCTILE IRON PIPE O T C
CC (AWWA) T IP T S
T C N T C N I ( )
3/4" CC CC3 3/4" IP IP3
1" CC CC4 1" IP IP4
1-1/4" CC CC5 1-1/4" IP IP5
1-1/2" CC CC6 1-1/2" IP IP6
2" CC CC7 2" IP IP7
Contact factory for availability
#17..
- 408 -
FEATURES
• Body made of high strength ductile iron per ASTM A536 • Each dual band and 5/8" UNC threaded studs are type 304 stainless steel • Gasket is EPDM rubber per ASTM D2000
• Finish on saddle body is fusion-bonded epoxy coating
• Certified to ANSI/NSF Standard 61
• Conforms to AWWA C800
DUAL BAND EPOXY COATED IRON SERVICE SADDLES FOR C900/C905 PVC PIPE 4" 4.80 5.4 FCD202-480-TAP
6" 6.90 5.7 FCD202-690-TAP
8" 9.05 8.2 FCD202-905-TAP
10" 11.10 9.0 FCD202-1110-TAP
12" 13.20 9.0 FCD202-1320-TAP
14" 15.30 11.9 FCD202-1530-TAP
16" 17.40 13.1 FCD202-1740-TAP
18" 19.50 13.1 FCD202-1950-TAP
20" 21.60 13.2 FCD202-2160-TAP
24" 25.80 13.9 FCD202-2580-TAP
30" 32.00 14.8 FCD202-3200-TAP
EPDM Gasket
Stainless Steel Bands
Finish - Epoxy Coating
Stainless Steel Studs
Coated Stainless
Steel Nuts
P.O. Box 443, Wabash, Indiana U.S.A. 46992-0443
Phone: 260-563-3171 / Fax: 800-826-3487
Overseas Fax: 260-563-0167
www.fordmeterbox.com
Submitted By:
The Ford Meter Box Company considers the information in this submittal form to be correct at the time of publication. Item and option availability, including specifications, are subject to change without notice. Please verify that your product information is current. Our standard warranty applies. 10/10/22
Iron Service Saddles for C900/C905 PVC - (FCD202-xxx-TAP style)
SUBMITTAL INFORMATION
3/4" CC CC3
1" CC CC4
1-1/4" CC CC5
1-1/2" CC CC6
2" CC CC7
3/4" IP IP3
1" IP IP4
1-1/4" IP IP5
1-1/2" IP IP6
2" IP IP7
2-1/2" IP IP8
Stainless Steel
Washers
(both sides)
Closed Lug
ThreadsCC or IP per
AWWA C800
#17..
- 409 -
2-Piece
Bolted Design
FEATURES
All brass conforms to AWWA Standard C800 (ASTM B62 and ASTM B584, UNS No C83600 - 85-5-5-5)
These saddles conform to the design and sizing requirements held by the Uni-Bell Handbook and the AWWA manual M23 for use on PVC pipe.
O-ring gasket is EPDM rubber per ASTM D2000.
150 psi working pressure rating
BRASS SADDLES WITH IP TAPS FOR C900 PVC PIPE
PVC P
S
A
O.D. (I .)
T
S
A . W . L . C
N
S
I ( )
4" 4.80
3/4" 2.9 S912-403
1" 2.8 S912-404
1-1/2" 7.5 S912-406
2" 7.1 S912-407
6" 6.90
3/4" 4.6 S912-603
1" 4.5 S912-604
1-1/2" 9.1 S912-606
2" 8.5 S912-607
8" 9.05
3/4" 5.4 S912-803
1" 5.3 S912-804
1-1/2" 12.6 S912-806
2" 11.9 S912-807
10" 11.10 1-1/2" 12.9 S912-1006
2" 12.6 S912-1007
12" 13.20 1-1/2" 14.3 S912-1206
2" 14.3 S912-1207
The Ford Meter Box Company, Inc.
P.O. Box 443, Wabash, Indiana U.S.A. 46992-0443
Phone: 260-563-3171 / Fax: 800-826-3487
Overseas Fax: 260-563-0167
www.fordmeterbox.com
Submitted By:
06/09/20
Brass alloy body and strap,
meeting ASTM B62, ASTM B584
and AWWA C800
EPDM Rubber O-Ring gasket
Silicon Bronze Bolts and Nuts
Brass Saddles For C900 PVC - (S912-xxx style)
SUBMITTAL INFORMATION
#17..
- 410 -
FEATURES
• All brass conforms to AWWA Standard C800 (ASTM B62 and ASTM B584, UNS NO C83600 - 85-5-5-5)
• Style A Saddle body and strap permanently held together with silicon bronze pin for saddles sized 2" thru 8"
• Bolt is 5/16" slotted hex head silicon bronze for saddles sized 2" thru 8" • A three-piece bolted design is used for S91 Saddles sized 10" and 12" with 1-1/2" and 2" taps, two-piece for 3/4" and 1" taps
• All 10" and 12" saddles are held together with 1/2" silicon bronze bolts (3/4" hex head) • 150 psi working pressure rating
S91 BRASS SADDLES WITH IRON PIPE TAPS FOR C900 PVC PIPE
PVC PIPE
SIZE ACTUAL O.D.
TAP
SIZE APPROX. WT. LBS. CATALOGNUMBER
STYLE
SUBMITTED
ITEM(S)
2" 2.50 1/2" .9 S91-201 A
3/4" 1.1 S91-203 A
4" 4.80
1/2" 1.8 S91-401 A
3/4" 1.8 S91-403 A
1" 2.0 S91-404 A
1-1/2" 6.5 S91-406 A
2" 6.4 S91-407 A
6" 6.90
3/4" 2.6 S91-603 A
1" 2.6 S91-604 A
1-1/2" 8.9 S91-606 A
2" 7.3 S91-607 A
8" 9.05
1/2" 2.8 S91-801 A
3/4" 2.8 S91-803 A
1" 3.2 S91-804 A
1-1/2" 8.0 S91-806 A
2" 8.5 S91-807 A
10" 11.10
3/4" 9.3 S91-1003 B
1" 9.1 S91-1004 B
1-1/2" 10.5 *S71-S91-1006 C
2" 10.5 *S71-S91-1007 C
12" 13.20
3/4" 11.1 S91-1203 B
1" 11.0 S91-1204 B
1-1/2" 11.5 *S71-S91-1206 C
2" 11.0 *S71-S91-1207 C
The Ford Meter Box Company, Inc.
P.O. Box 443, Wabash, Indiana U.S.A. 46992-0443
Phone: 260-563-3171 / Fax: 800-826-3487
Overseas Fax: 260-563-0167
www.fordmeterbox.com
Submitted By:
The Ford Meter Box Company considers the information in this submittal form to be correct at the time of publication. Item and option availability, including specifications, are subject to change without notice. Please verify that your product information is current. 01/12/16
Brass Saddles For C900 PVC - (S91-xxx style)
SUBMITTAL INFORMATION
* These saddles will cover Steel size PVC and C900 PVC O.D. range.
Style B 2-Piece (Bolted Design) Style C 3-Piece (Bolted Design) Silicon Bronze
hex head bolt
Silicon Bronze
hinge pin
EPDM rubber
O-ring
Style A (Hinged Design)
#17..
- 411 -
1 INVITATION FOR BIDS (“IFB”) NO. IFB-00051 FOR
PIPE SADDLES
BIDS DUE: March 3, 2026 at 11:00 am
City of Modesto Contact:Melvin Rosal, Buyer
E-Mail Address: [email protected]
#17..
- 412 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
2 Table Of Contents
NOTICE TO BIDDERS
INSTRUCTIONS TO BIDDERS
VIRTUAL BID OPENING
GENERAL BID REQUIREMENTS
PRICING SCHEDULE
BID SUBMITTAL
TECHNICAL SPECIFICATIONS AND REQUIREMENTS
SAMPLE ANNUAL AGREEMENT - GOODS
Notice to Bidders
NOTICE IS HEREBY GIVEN that the City of Modesto, County of Stanislaus, State of California (“City”), will receive electronic sealed Bids (each, a “Bid”) from qualified Bidders (each, a “Bidder”) for the furnishing of Pipe Saddles equipment, materials, supplies and/or related services (the “Goods”) for the City of Modesto, Finance Department, Purchasing Division.
All equipment, materials, and supplies shall be furnished F.O.B. City of Modesto (delivery charges borne by Bidder, included in the Goods pricing herein, and not separately charged to the City). Bidders are highly recommended to download all IFB documents from the City’s OpenGov Procurement portal at https://procurement.opengov.com/portal/modestogov; such IFB documents shall include all specifications necessary for Bidders to submit a responsive Bid.
Each Bid shall be submitted electronically through the City's OpenGov Procurement portal prior to 11:00 am on Tuesday, March 3, 2026, after which time Bids will be opened, read and recorded. The opening of bids will not be physically open to the public but may be viewed simultaneously via video conferencing in the manner provided for herein. All Bids shall be available for review following City Council award approval at the Purchasing Division, 1010 Tenth Street, 5th Floor, Suite 5300, Modesto, CA 95354.
Bids will be received only in the manner stated above, and prior to the time indicated. Any Bid received at or after said time and/or date, or in a manner other than stated above cannot be considered.
Bids received in any other format will not be accepted. The City of Modesto assumes no responsibility for delay in the upload of documents or final submittal of the Bid.
Instructions to Bidders
CALENDAR OF EVENTS
IFB Issued: February 3, 2026
#17..
- 413 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
3 Questions Due via City's OpenGov
Procurement portal:
February 10, 2026, 5:00pm
Addendum Issued (if required): February 17, 2026
Bid Due Date & Time: March 3, 2026, 11:00am
Approximate Contract Award Date: March 2026
CITY CONTACT
All questions regarding these specifications, terms, and conditions shall be submitted through the Question & Answer area of the City's OpenGov Procurement portal prior to 5:00 pm on Tuesday, February 10, 2026. The City will respond to questions through the OpenGov portal where answers can be found in the Question & Answer tab; however, if a response to a question elicits a change to the bid documents, an addendum will be posted through the OpenGov portal under the Addenda & Notices tab. All contact between Bidder and the City regarding the Bid process shall be through the City Contact. Attempts by the Bidder to contact other City personnel regarding this IFB and associated process may result in disqualification of the Bidder. Notwithstanding the foregoing, information intentionally or unintentionally provided by any person other than the City Contact may not be correct and will not be binding upon the City.
PRECEDENCE
Bidder agrees that any agreement resulting from City’s acceptance of its Bid, together with the terms in any City purchase order and associated specifications provided by the City to Bidder therewith, shall comprise the entire agreement between City and Bidder. Moreover, Bidder agrees that any additional or contrary terms contained in Bidder’s acknowledgement of, shall be null and void.
SUBMITTAL OF NO BID
If you are not submitting a Bid, you have the option to submit "No Bid" and state the reason you are not submitting a bid for this particular IFB.
Virtual Bid Opening
The City of Modesto will be broadcasting Bid openings live electronically via Microsoft Teams at 11:00 am (Pacific Time) on Tuesday, March 3, 2026. The City Clerk Record of Proposal document should be available on the City's OpenGov Procurement portal by the end of the same day.
The public Bid opening for this Invitation for Bids will be available using the URL link provided below. By submitting your Bid for the above-stated IFB you acknowledge, understand, and agree to this modified Bid opening procedure.
#17..
- 414 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
4 URL: https://teams.microsoft.com/l/meetupjoin/19%3ameeting_NTI0YzBiMDMtNDQ0Yi00YjNlLWIwZjYtYzg4ZDVjMDdkM2Mz%40thread.v2/0 ?context=%7b%22Tid%22%3a%22125ccacf-fc61-463c-9976-
189f876ff90b%22%2c%22Oid%22%3a%229715c333-c997-4dd7-8984-12cd4deaa705%22%7d Call-In#: 1 469-998-7409
Conference ID: 961 656 049#
Should you have any questions regarding this, please do not hesitate to contact Melvin Rosal.
General Bid Requirements
BID SUBMITTAL
Bidders shall submit through the City's OpenGov Procurement portal. No hard copy bids or bids submitted in any other manner as that prescribed within this IFB will be accepted.
CONFIDENTIAL BIDDER INFORMATION
It is the responsibility of the Bidders to identify information in their Bid submission that they may consider to be confidential under the California Public Records Act. To the extent that the City agrees with that designation, such information will be held in confidence whenever possible. All other information will be considered public.
BIDDER COSTS INCURRED IN RESPONDING TO IFB
All costs associated with the preparation and submission of a Bid shall be borne by the Bidder.
BIDDER EXCEPTIONS
All exceptions taken to this IFB, and associated specifications shall be specifically and clearly identified on Exceptions, Clarifications and Amendments form. Failure to comply with this provision may deem the Bid as non-responsive. Please review the Sample Agreement and make note on the Exceptions, Clarifications, and Amendments form for any changes. Exceptions taken shall not affect the overall performance and quality of equipment, materials and/or provision of Goods required by the City. The Purchasing Manager or designated agent shall make the final decision regarding the acceptability of equipment, materials and/or provision of Goods with exceptions.
#17..
- 415 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
5 CITY ACCEPTANCE/REJECTION OF IRREGULAR BIDS
An agreement shall be awarded to the Bidder whose Bid most closely satisfies the needs of the City and is deemed the most advantageous to the City. The City reserves the right to reject any or all Bids or to waive any informalities or minor irregularities in a Bid.
COMPLETE BID DOCUMENT
The City of Modesto forms provided with this IFB constitute the makeup of a complete Bid document and shall be signed wherever indicated and be submitted to the City as required by this IFB.
Failure to furnish any of these documents or information required within such documents may result in disqualification.
Pricing Schedule
Bidder Exceptions, Clarifications, Amendments (if applicable) Bidder Customer References
Financial Interest Disclosure
Support of Local Vendors (if applicable)
Bidder Company History Statement
Bidder Warranty Statements
Subcontractor List (if applicable)
California Levine Act Disclosure
COMPLIANCE/NON-COMPLIANCE
If Bidder cannot comply with a specification requirement in this IFB, note on the Exception, Clarifications, Amendments form of the specification paragraph, your exception, and your recommendation. The Purchasing Manager will evaluate your recommendation. If after evaluation it is determined that the Bidder is not in compliance with the specification, the Bid may be deemed non-responsive.
PROPOSED PRICING FORMAT
The cost of labor, equipment, fuel, licenses, bonds, permits, and insurance necessary to perform the required provision of Goods shall be included in Bid pricing, along with Bidder’s profit margin and any other cost factors.
Unless otherwise stated, the Bidder agrees that, in the event of a price decline, the benefit of such lower pricing shall be extended to the City.
#17..
- 416 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
6 The City of Modesto shall not pay mileage charges or travel time from the Contractor’s place of business to the job site, or from site to site, or for the Contractor’s travel time to pick up materials.
Bidder shall use the pricing schedule provided in this IFB to present Bid pricing. No other form or format shall be accepted. Bid must be submitted on the Pricing Schedule provided. No alterations may be made to the pricing schedule. Any exceptions, amendments or adjustments should be noted on the Exception, Clarification, Amendments Form.
AWARD OF BID
The City may award one or more agreements to one or more Bidder in order to provide for backup, or in case the “primary” contractor is unable to meet the City’s needs.
The City reserves the right to decline to award any agreement if it is determined that the proposed pricing is not competitively priced based on similar agreements with public agencies within the State of California or if the bids received fail to meet the City’s requirements.
The City reserves the right to select the Bid, which best suits the City’s needs. In addition to price, consideration will be given to the quality and performance of the commodity to be purchased, and the criteria listed in Modesto Municipal Code Section 8-3.203(f). Regardless of City staff’s recommendation, the City Council reserves the right to award an agreement to the Bidder that best suits the City’s needs as determined by the City Council whether or not said award is consistent with City staff’s recommendation for award.
TERM OF AGREEMENT
The term of the agreement shall be for a period of one (1) year with four (4) one-year extension options at the sole discretion of City, for a total of up to five (5) years.
Pricing shall remain firm for the first year of the agreement, which may be awarded pursuant to this IFB.
Price increases for subsequent agreement years, two, three, four and five, shall not exceed the Producer Price Index (PPI) for the Series ID: PCU3329133329136 (Plumbing fixture fitting and trim manufacturing - Miscellaneous metal and nonmetal plumbing fixtures, fittings, and trim, not seasonally adjusted) in any one agreement year, and shall be negotiated through the Purchasing Division. Requests for price increases shall be submitted by Contractor(s) in writing, at least ninety (90) days prior to the annual anniversary date of the agreement to be effective for the subsequent year.
SUPPORT OF LOCAL VENDORS
Should the Bidder that submits the lowest responsive Bid or and would otherwise normally qualify to receive the Bid pursuant to Sections 8-3.203 and 8-3.204 of the Modesto Municipal Code (MMC) #17..
- 417 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
7 not be a local business as defined herein, the lowest Bid or quote submitted by a local business that is within 5% of the lowest Bid, whether or not that Bidder is the second lowest Bidder, may be deemed to be the lowest Bidder if the local Bidder agrees to reduce its Bid to match the Bid or quote of the lowest Bidder in writing within five business days after notification by City Purchasing staff, provided that said local Bidder is deemed to be a responsible Bidder as determined by the Purchasing Manager. To qualify as a local Bidder, the Bidder must have a physical business location within the City of Modesto and a current City of Modesto business license.
INDEMNITY
The successful Bidder (the “Contractor”) will be required to hold the City, its agents, officers, employees, and volunteers, harmless from and save, defend and indemnify them against any and all claims, losses, liabilities, judgements or damages from every cause, including but not limited to injury to person or property or wrongful death, including reasonable costs and expenses of defense of any judicial or administrative action, arising directly or indirectly out of any negligent or intentional act or omission of the Contractor, its agents, officers, employees, and volunteers relating to or during the performance of its obligations under this Bid, except for claims arising from the willful or active negligence of the City. Contractor’s obligation to defend, indemnify, and hold the city, its agents, officers, and employees harmless under the provisions of this paragraph is not limited to or restricted by any requirement for Contractor to procure and maintain a policy of insurance. With reference to the foregoing, the parties agree that all risk of loss, including but not limited to damages, property losses and defense of third-party suits, arising out of or relation to the operation of City-owned vehicles by Contractor’s employees will be apportioned to Contractor in accordance with the provisions contained in indemnity.
BIDDER REPRESENTATION
Bidder represents that:
Bidder has had an opportunity to examine and has examined any and all of the documents, including specifications, any resultant contract and supporting data, and that it has, from the information contained in such documents, specifications, and data, fully acquainted itself with all conditions relevant to the work.
Bidder has made all reasonable investigations essential to a full understanding of the difficulties which may be encountered in performing the work.
Bidder will complete the proposed provision of Goods for the compensation stated in any resultant agreement.
Bidder assumes full and complete responsibility for all conditions relevant to the proposed provision of Goods and all risks in connection therewith.
Bidder represents that it is fully qualified to perform the proposed provision of Goods in accordance with the terms of any resultant agreement within the time specified therein. #17..
- 418 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
8 BID PROTEST AND APPEAL PROCEDURES
Bidders wishing to protest or appeal a contract award decision by the City of Modesto must follow the procedures provided in this section. Protests or appeals which are not submitted in accordance with these procedures will not be reviewed.
Definitions
For the purposes of these procedures: "Days" means working days on which City Hall is open for business, excluding holidays and weekends.
"Bid" includes the term "offer" or "proposal" as used in the context of formal, informal, or negotiated procurements.
"Announced Decision" includes the term “Notice of Intent to Award Letter”. Once the City has issued an Announced Decision, the date noted will begin the time that a Bidder may lodge a protest.
Protest Procedures
Only a Bidder who has actually submitted a Bid is eligible to submit a protest against the City’s Announced Decision.
Subcontractors are not eligible to submit bid protests.
A Bidder may not rely on the bid protest submitted by another bidder but must timely pursue its own protest.
A written protest to an Announced Decision must be made to the City of Modesto's Director of Finance no later than ten days after the date of the Announced Decision.
The protest shall be delivered or sent by registered mail and received by the City by the deadline, or protest will be automatically rejected. Protestors who choose to be represented by legal counsel are responsible for the associated expenses.
The protest shall be accompanied by a certified cashier's check in the amount of $300.00, (except for protests of Federally Funded agreements), made payable to the Clerk of the City of Modesto. Protests filed without the requisite fee will be rejected without any additional review.
The protest filed with the Director of Finance shall:
a. Include the name, address, email address and business telephone number of the protestor;
b. Identify the protest by name, Invitation for Bid (IFB) or Request for Proposal (RFP) number, and IFB/RFP date;
#17..
- 419 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
9 c. The bid protest must contain a complete statement of the basis for the protest and all supporting documentation. The protest must refer to the specific portion or portions of the Contract Documents upon which the protest is based; d. Include all supporting documentation, if any. Documentation submitted after filing deadline will not be reviewed.
Bid Protests: A Bidder shall follow, in order, the following steps:
a. Protest to Director of Finance: Upon receipt of a complete and timely protest, the Director of Finance shall review all the submitted materials and shall create and retain a written record of the review. The Director of Finance shall respond at least generally to each material issue raised in the protest not later than ten days after receipt of the protest. Notice of the Director of Finance's decision may be given by letter mailed through U.S. Postal Service.
All protests to the Director of Finance shall either be delivered to:
City Clerk’s Office
Attn: Director of Finance
1010 Tenth St. Suite 6600
Modesto CA 95354
Or mailed to:
City Clerk’s Office
Attn: Director of Finance
PO Box 642
Modesto CA 95353
b. Appeal to Deputy City Manager: At the protestor’s discretion, the decision of the Director of Finance may be appealed in writing to the City of Modesto's Deputy City Manager(s) no later than ten days after the date of the Director of Finance’s Decision.
The scope of the appeal shall be limited by the issues raised in the initial protest to the Director of Finance. The Deputy City Manager shall not be permitted to review any newly raised issues. The Deputy City Manager shall review the appeal, accompanying supporting documents, if any and the written records of the protest review by the Director of Finance. A written record of the Deputy City Manager's review shall be created and maintained. The Deputy City Manager shall give notice of their decision to the protestor within ten days after receipt of appeal.
#17..
- 420 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
10 Further protest appeals shall either be delivered to:
City Clerk’s Office
Attn: Deputy City Manager
1010 Tenth St. Suite 6600
Modesto CA 95354
Or mailed to:
City Clerk’s Office
Attn: Deputy City Manager
PO Box 642
Modesto CA 95353
c. Appeal to City Council: Any protestor seeking to appeal to the decision of the Deputy City Manager may appeal in writing to the City Council by filing with the City Clerk a written notice of such appeal not later than ten days after the date of the Deputy City Manager's decision. The City Clerk will calendar the protest for Council hearing and give notice of the time and place of the hearing as provided in Modesto Municipal Code Sections 1-4.01 through 1-4.05. The City Council’s decision on the appeal shall be final.
All protest appeals to the City Council shall either be delivered to:
City Clerk’s Office
Attn: City Council
1010 Tenth St. Suite 6600
Modesto CA 95354
Or mailed to:
City Clerk’s Office
Attn: City Council
PO Box 642
Modesto CA 95353
d. Optional Alternative Process for Protests of Procurement Actions Exceeding $250,000: A Bidder protesting procurements exceeding $250,000 shall comply with the procedures contained herein, except that in lieu of appeal to the Deputy City Manager a protestor may request that the protest be heard and decided at an administrative hearing.
#17..
- 421 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
11 A written request for administrative hearing shall be accompanied by a certified or cashier's check in the amount of $1,500, (except for protests of Federally Funded projects); The request for hearing shall include the specific grounds of the appeal.
The City of Modesto shall select and engage an impartial and qualified person to act as hearing officer in the pending protest. The protestor shall have the right to twice reject the selected hearing officer, provided that the City is notified of such rejection within three days of notice to protestor of the name of the hearing officer.
The protest shall be heard not later than twenty days after receipt of protestor's request for hearing and the selection of a hearing officer. Protests not made in a timely manner shall be deemed withdrawn, unless the City and the protestor mutually agree otherwise in writing. The protestor’s failure to accept a hearing officer after the third attempt by City staff to identify an impartial hearing officer shall be deemed a withdrawal of the protest.
The costs of the hearing officer and expenses of the protest shall be borne by the protestor. The sums deposited with the request for hearing shall be credited to the costs of the hearing officer and other hearing expenses. e. Mandatory Alternative Process for Protests of Procurements Obtained with Federal Funds: If the protested procurement involves federal funds, the Deputy City Manager, City Council, or hearing officer shall give notice, accompanying their respective decisions, to the protestor that he or she has the right to appeal to the appropriate federal agency, for which an agency name, contact (where available) and address shall be provided by City staff. Such an appeal shall be filed with the appropriate agency within seven business days of the dispatch or rejection notices to the protestor. Federal agencies may entertain protests alleging that the City has failed to adopt written protest procedures or has failed to follow such procedures. The City Council is the highest authority of the City of Modesto, and its decisions are final. A disappointed Bidder for a contract involving expenditures of Federal funds shall have the right to appeal against the City Council decision directly to the federal agency as described herein.
Pricing Schedule
All labor, materials, equipment, tools, fuel, licenses, bonds, insurance and other expenses necessary for Bidder to perform the required provision of goods shall be included in Bid pricing. Bid must be submitted on the below Pricing Schedule provided. No alterations should be made to the pricing schedule. Any exceptions, amendments or adjustments should be noted on the form provided for Bidder Exceptions, Clarifications, and Amendments. #17..
- 422 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
12 ESTIMATED ANNUAL QTY x UNIT PRICE= EXTENDED PRICE
**In case of discrepancy between a unit price and an extended price, the unit price will be presumed to be correct, subject, however, to correction to the same extent and in the same manner.** Line
Item
COM
Part # Description Quantity Unit of Measure
Unit
Cost Total No Bid
1 125200 SADDLE BRONZE
4" X 2" IP AC
1 Each
2 125220 SADDLE BRONZE
6" X 2" IP AC
19 Each
3 125240 SADDLE BRONZE
8" X 2" IP AC
20 Each
4 125260 SADDLE BRONZE
10" X 2" IP AC
12 Each
5 125270 SADDLE BRONZE
12" X 2" IP AC
1 Each
6 125400 SADDLE BRONZE
4" X 2" IP C900
10 Each
7 125410 SADDLE BRONZE
6" X 1" IP C900
32 Each
8 125420 SADDLE BRONZE
6" X 2" IP C900
44 Each
9 125430 SADDLE BRONZE
8" X 1" IP C900
140 Each
10 125440 SADDLE BRONZE
8" X 2" IP C900
7 Each
#17..
- 423 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
13 Line
Item
COM
Part # Description Quantity Unit of Measure
Unit
Cost Total No Bid
11 125455 SADDLE BRONZE
10" X 1" IP C900
11 Each
12 125460 SADDLE BRONZE
10" X 2" IP C900
1 Each
13 125470 SADDLE BRONZE
12" X 1" IP C900
6 Each
14 125480 SADDLE BRONZE
12" X 2" IP C900
50 Each
15 125600 SADDLE 4" X 2" IP
ODS
1 Each
16 125610 SADDLE, DI
BODY TWO SS
STRAPS IP 6" X 1"
C900 - Epoxy
Coated
1 Each
17 125620 SADDLE 6" X 2" IP
ODS
5 Each
18 125640 SADDLE 8" X 2" IP
ODS
1 Each
19 125800 SADDLE
CI/DI/C900/SDR 4"
X 2" IP
4.50/4.80/5.40 -
Epoxy Coated
6 Each
#17..
- 424 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
14 Line
Item
COM
Part # Description Quantity Unit of Measure
Unit
Cost Total No Bid
20 125820 SADDLE
CI/DI/C900/SDR 6"
X 2" IP
6.63/6.90/7.60 -
Epoxy Coated
14 Each
21 125840 SADDLE
CI/DI/C900/SDR 8"
X 2" IP
1 Each
22 125520 SADDLE, DI
BODY TWO SS
STRAPS 16" X 2"
IP 17.40, MIN
RANGE 17.30-
17.50 31 Each
23 125890 SADDLE
DI/POWERSEAL
10" X 2" 10.62-
12.12 13 Each
24 125895 SADDLE
DI/POWERSEAL
12" X 2" 12.62-
14.32 1 Each
Total:
Bid Submittal
Bidder’s submission should include all City of Modesto forms as provided. If any form is not applicable, Bidder should write or type “Not Applicable” on it but still include the form in your submission. Before submitting the forms, make sure to review the forms to avoid submitting duplicate forms.
#17..
- 425 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
15 ACKNOWLEDGEMENTS
IFB ACKNOWLEDGEMENT*
The Bidder submitting acknowledges receipt of the referenced IFB and/or Addenda and offers and agrees to provide the goods specified on behalf of the Bidder indicated in Bidder’s Bid Forms provided by the City, attached hereto and made a part hereof, this includes any forms for the pricing proposed on the Pricing Schedule.
By checking the "please confirm" box below, you acknowledge the above statement.
Please confirm
*Response required
PREPARATION OF BIDS*
Bidder acknowledges that they have quoted price as specified in Bid. No alterations or changes of any kind shall be permitted to the Pricing Schedule as provided. Responses that do not comply shall be subject to rejection in total.
By checking the "please confirm" box below, you acknowledge the above statement.
Please confirm
*Response required
TAXES AND FREIGHT CHARGES*
Bidder acknowledges that:
A. Unless otherwise required and specified in the IFB, the prices quoted herein do not include Sales, Use or other taxes.
B. No charge for delivery, drayage, express, parcel post packing, cartage, insurance, license fees, permits, costs of bonds, or for any other purpose, except taxes legally payable by City, will be paid by the City unless expressly included and itemized in the Bid.
C. Amount paid for transportation of property to the City is exempt from Federal Transportation Tax. An exemption certificate is not required where the shipping paper shows the consignee as one (1) of the City; as such papers may be accepted by the carrier as proof of the exempt character of the shipment.
D. Articles sold to the City are exempt from certain Federal excise taxes. The City will furnish an exemption certificate.
By checking the "please confirm" box below, you acknowledge the above statement.
Please confirm
#17..
- 426 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
16 *Response required
AWARD*
Bidder Acknowledges that:
A. Unless otherwise specified by the Bidder or the IFB gives notice of an all-or-none award, the City may accept any item or group of items of any Bid.
B. Bids are subject to acceptance by the City at any time within 60 days of opening, unless otherwise specified in the IFB. A Bidder shall not change its bid if accepted within such time.
C. A valid, contract based on the sample agreement attached to the IFB and the submitted bid shall be mailed, or otherwise furnished, to the successful Bidder within the time for acceptance specified, and such contract shall be a binding agreement without further action by either party.
The contract shall be interpreted, construed and given effect in all respects according to the laws of the State of California.
By checking the "please confirm" box below, you acknowledge the above statement.
Please confirm
*Response required
PATENT INDEMNITY*
Bidder Acknowledges:
Bidders who do business with the City shall hold the City, its officers, agents and employees, harmless from liability of any nature of kind, including cost and expenses, for infringement or use of any patent, copyright or other proprietary right, secret process, patented or unpatented invention, article or appliance furnished or used in connection with the Agreement or Purchase Order.
By checking the "please confirm" box below, you acknowledge the above statement.
Please confirm
*Response required
SAMPLES*
Bidder Acknowledges:
Samples of items, when required, shall be furnished free of expense to the City and if not destroyed by test may upon request (made when the sample is furnished), be returned at the bidder's expense.
By checking the "please confirm" box below, you acknowledge the above statement. #17..
- 427 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
17 Please confirm
*Response required
RIGHTS AND REMEDIES OF CITY FOR DEFAULT*
Bidder Acknowledges:
A. In the event any item furnished by the Bidder in the performance of the contract or purchase order should fail to conform to the specifications therefore or to the sample submitted by the Bidder with its Bid, the City may reject the same, and it shall thereupon become the duty of the Bidder to reclaim and remove the same forthwith, without expense to the City, and immediately to replace all such rejected items with others conforming to such specifications or samples; provided that should the Bidder fail, neglect or refuse to do so, the City shall thereupon have the right to purchase in the open market, in lieu thereof, a corresponding quantity of any such items. City may deduct from any moneys due or that may there after come due to Bidder, or send an invoice to the Bidder which shall be paid within thirty (30) days, the difference between the prices named in the contract or purchase order and the actual cost thereof to the City. In the event that the Bidder fails to make prompt delivery as specified for any item, the same conditions as to the rights of the City to purchase in the open market and to reimbursement set forth above shall apply, except when delivery is delayed by fire, strike, freight embargo, or Act of God or the government.
B. Cost of inspection or deliveries or offers for delivery, which do not meet specifications, will be borne by the Bidder.
C. The rights and remedies of the City provided above shall not be exclusive and are in addition to any other rights and remedies provided by law or under the contract.
By checking the "please confirm" box below, you acknowledge the above statement.
Please confirm
*Response required
PAYMENT TERMS AND METHODS*
BIDDER IS ABLE TO CHOOSE FROM EITHER OF THE FOLLOWING PAYMENT METHODS AND ASSOCIATED TIMINGS:
Option A (Preferred): City of Modesto ePay Payment:
This secure payment methodology is preferred by an increasing number of the City’s suppliers. On Net 30 day timing, you will receive a single-use Master Card number with a detailed remittance for each payment. You will process the payment though your POS/Card terminal. The payment #17..
- 428 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
18 remittance will be sent from [email protected] via email and will contain the following information:
16-digit credit card number
Expiration date
Security code
Total dollar amount of invoices to be paid
Invoices reference numbers and corresponding amounts
ePay results in small percentage rebate of 1.0% to the City through the card issuer. That rebate amount will be considered by the City in its evaluation of Bidder’s pricing proposal hereunder.
Information about enrolling in MasterCard ePay program can be obtained from the City’s contact listed on the Cover Page of this IFB.
Option B – Manual Check:
On net 45 day timing, the City will mail a hardcopy check to the bidder. The payment will be deemed to have been made when the check envelope is mailed via US Postal Service First Class Mail. The timing of the mailing will be at the end of the net 45 day period. Additional time should be estimated by the bidder for the check to be in transit, and to await deposit and clearance by bidder staff.
Option A - ePay (Preferred)
Option B - Manual Check
*Response required
DID YOU CHOOSE THE PAYMENT TERM - OPTION A - EPAY?*
Yes
No
*Response required
When equals "Yes"
PLEASE ENTER THE PREFERRED EMAIL ADDRESS TO SET UP EPAY.* *Response required
CALIFORNIA GOVERNMENT CODE SECTION 4552*
Bidder Acknowledges:
In submitting a Bid to the City, the Bidder offers and agrees that if the Bid is accepted, it will assign to the City all rights, title and interest in and to all causes of action it may have under Section 4 of #17..
- 429 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
19 the Clayton Act (15 U.S.C. SEC.15) or under the Cartwright Act (Chapter 2, commencing with Section 16700, of Part 2 of Division 7 of the Business and Professions Code), arising from purchases of goods, materials, or services by the Bidder for sale to the purchasing body pursuant to the Bid. Such assignment shall be made and become effective at the time of the purchasing body tender's final payment to the bidder.
By checking the "please confirm" box below, you acknowledge the above statement.
Please confirm
*Response required
NO GUARANTEE OR WARRANTY*
Bidder Acknowledges that:
The City makes no guarantee or warranty as to the condition, completeness or safety of any material or equipment that may be traded under an Agreement or Purchase Order resulting from this Bid.
By checking the "please confirm" box below, you acknowledge the above statement.
Please confirm
*Response required
MINOR IRREGULARITIES*
Bidder Acknowledges that:
The City reserves the right, in its sole discretion, to waive any informalities or minor irregularities in a Bid.
By checking the "please confirm" box below, you acknowledge the above statement.
Please confirm
*Response required
BIDDER COMPANY INFORMATION
BIDDER COMPANY FULL LEGAL NAME*
Please provide the full legal name of the Bidder Company on this bid submittal. It may already be provided elsewhere, but please provide here to confirm. *Response required
#17..
- 430 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
20 BIDDER COMPANY MARKETPLACE (OR DBA) NAME*
Please provide the Company Marketplace Name or DBA (if applicable). It may already be provided elsewhere, but please provide here to confirm.
NOTE: If the company is not operating under an additional name or a dba, then you may state "N/A" here.
*Response required
TYPE OF LEGAL ENTITY*
Is the Bidder Company a Corporation, Limited Liability Company, Partnership, or Sole Proprietorship?
If the Bidder Company is something other than one of the above options, please answer "No" here and you will be asked to provide more information after this question.
Yes
No
*Response required
When equals "Yes"
TYPE OF LEGAL ENTITY - SELECT*
Please select which of the following legal entity options under which the Bidder Company operates.
Corporation
Limited Liability Company
Partnership
Sole Proprietorship
*Response required
When equals "Yes"
LEGAL ENTITY STATE OF REGISTRATION*
In which State is the Bidder Company registered?
*Response required
When equals "No"
TYPE OF LEGAL ENTITY - OTHER*
You have indicated that the Bidder Company does not operate as a Corporation, a Limited Liability Company, a Partnership, or as a Sole Proprietorship. Please explain and be sure to note which State the Bidder Company is registered/established.
#17..
- 431 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
21 *Response required
BIDDER COMPANY HEADQUARTERS ADDRESS*
Please provide the full street address for the headquarters of the Bidder Company. Be sure to include the following:
Full Street Address
City
State
Country
Postal Code
*Response required
BIDDER COMPANY WEBSITE ADDRESS*
Please provide the full company website address for the Bidder Company. *Response required
CONTACT PERSON DETAILS*
Please provide the following information for the Contact person for this bid:
Name
Title
Phone (Office)
Phone (Mobile)
Mailing Address (Street Address, City, State, Postal Code) Fax Number
Email
*Response required
FEDERAL TAXPAYER IDENTIFICATION NUMBER (TIN)*
Please provide the Bidder Company's Federal Taxpayer Identification Number here. *Response required
DUNS & BRADSTREET (DUNS) NUMBER
Please provide the Bidder Company's Duns & Bradstreet (DUNS) Number here. #17..
- 432 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
22 BIDDER OFFICER NAMES AND TITLES*
Please provide the Names and Titles of the Top Three Bidder Officers in the following manner:
Full Name, Full Title
Full Name, Full Title
Full Name, Full Title
*Response required
YEARS IN BUSINESS*
For how long has the Bidder Company been in business? Please indicate in number of years. *Response required
CLOSEST BIDDER OFFICE*
Please provide the address for the Bidder Office closest to the City of Modesto. Please be sure to provide:
Full Street Address
City
State
Country
Postal Code
*Response required
CITY OF MODESTO BUSINESS LICENSE*
Does the Bidder Company currently possess a valid City of Modesto Business License? NOTE: An answer of "No", does not exclude the bid from potential award as it is not required until the contract begins.
Yes
No
*Response required
When equals "Yes"
CITY OF MODESTO BUSINESS LICENSE NUMBER*
You have indicated that the Bidder Company already possesses a City of Modesto Business License, please provide the business license number here. #17..
- 433 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
23 *Response required
CITY FORMS
BIDDER EXCEPTIONS, CLARIFICATIONS, AMENDMENTS*
Does the Bidder have any exceptions, clarifications, or amendments to this IFB, sample agreement, or its associated specifications?
Yes
No
*Response required
When equals "Yes"
BIDDER EXCEPTIONS, CLARIFICATIONS, AMENDMENTS*
Please download the below documents, complete, and upload.
Bidder_Exceptions,_Clarific...
*Response required
BIDDER CUSTOMER REFERENCES*
Please download the below documents, complete, and upload.
Bidder_Customer_References.pdf
*Response required
FINANCIAL INTEREST DISCLOSURE*
Please download the below documents, complete, and upload.
Financial_Interest_Disclosu...
*Response required
LOCAL VENDOR?*
Is the Bidder a local vendor as defined by the following requirement? To qualify as a local Bidder, the Bidder must have a physical business location within the City of Modesto and a current City of Modesto business license.
Yes
No
*Response required
#17..
- 434 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
24 When equals "Yes"
SUPPORT OF LOCAL VENDORS*
Please download the below documents, complete, and upload.
Support_of_Local_Vendors.pdf
*Response required
BIDDER COMPANY HISTORY STATEMENT*
Please download the below documents, complete, and upload.
Bidder_Company_History.docx
*Response required
BIDDER WARRANTY STATEMENTS*
Please download the below documents, complete, and upload.
Bidder_Warranty_Statements.pdf
*Response required
SUBCONTRACTORS?*
Will the Bidder be using subcontractors for any purpose to perform services noted in this IFB? Yes
No
*Response required
When equals "Yes"
SUBCONTRACTOR LIST*
Please download the below documents, complete, and upload.
Subcontractor_List_IFB.pdf
*Response required
CALIFORNIA LEVINE ACT DISCLOSURE*
Please download the below documents, complete, and upload.
Modesto Levine Act Statement…
*Response required
#17..
- 435 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
25 ADDITIONAL BID INFORMATION
ADDITIONAL INFORMATION (IF NEEDED)
For any additional information requested or required by any of your previously provided answers or as stated within this IFB please upload the additional documentation here.
SUBMITTAL CONFIRMATION*
Bidder hereby certifies that all information provided within this submittal is accurate to the best of their knowledge and acknowledges that they have provided proof of their authority to submit a proposal on behalf of the stated Company Name committing them to the information contained within said submittal.
By checking the "please confirm" box below, you certify the above statement.
Please confirm
*Response required
Technical Specifications and Requirements
SCOPE OF WORK
The City of Modesto Utilities Department Water Division is requesting pricing for Pipe Saddles.
Vendors are requested to submit a bid that meets all requirements contained herein. Bids submitted shall be complete and include all costs associated with the bid including delivery and materials.
Approved Pipe Saddle manufacturers:
Smith Blair
AY McDonald
Ford
Jones
Powerseal
Romac
Mueller
Specific Brands may be confirmed by a City Representative that the minimum and maximum range requirements have been met.
#17..
- 436 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
26 PRODUCT SUBSTITUTIONS
No substitutions are allowed where indicated. If quoting any brand other than those listed, identify the brand and part number in the space provided. If pounds, length, ounces, package or box quantities, etc. are different than what is listed or implied by manufacturer’s part number, your differences must be noted. Substitutions must be equal to or exceed the quality of the item described. Any reference to brand name is intended to be descriptive and not restrictive. City of Modesto personnel will determine the acceptability of a substitute.
Bidder shall supply only the brand name bid, however, should the Bidder experience difficulty or delays in obtaining supplies of the brand bid, Bidder may substitute an approved equal after receiving permission from the City of Modesto Purchasing Manager or designee. The cost of substitution shall not be greater than bid price.
DELIVERY
Location: City of Modesto Stores Division (or as specified on 4240 Litt Rd
Modesto, CA 95357
City of Modesto Central Stores Division (or as spec
501 N Jefferson St BLDG 4A
Modesto, CA 95354
Days of Week: Monday through Friday (excluding holidays) Delivery Hours: 7:00 A.M. to 2:00 P.M. or as specified by Division All deliveries shall be made within Thirty (30) business day after the order is placed. Each delivery shall be signed for by an approved onsite City liaison. #17..
- 437 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
27 All Invoices shall include the Stock Number listed on the Pricing Schedule.
DELIVERY REPORT
The successful Bidder(s) shall provide Goods delivery reports upon City request. Reports shall include all Goods delivered during the time period requested. At a minimum the report shall include City Stock number, Manufacturer Stock number, Manufacturer nomenclature, quantity, unit price, extended price, and total price. Reports shall be delivered to the following address or alternatively as requested by the Purchasing Division via email to the City of Modesto:
City of Modesto
Purchasing Division
P.O. Box 642
Modesto, CA 95353
CONTRACTUAL CHANGES
Changes of a contractual or business nature shall be affected only by written change to the contract by the City of Modesto, Purchasing Division.
CHARACTER OF WORKERS
If any person employed by the Bidder fails or refuses to carry out the direction of the City Representative or appears to be incompetent or acts in a disorderly or improper manner, that person shall be discharged immediately from the site on the request of the City Representative or Purchasing Manager, and such person shall not again work on any City site.
DELAY BY THE CITY
Any act or omission of any kind by the City of Modesto, its officers, agents or employees, which causes the Bidder to delay in the provision of Goods and related services shall be grounds for extension of time on the part of the Bidder to complete the work but shall give the Contractor no damages for such delay.
Sample Annual Agreement - Goods
This agreement, hereinafter called AGREEMENT, made and entered into in the City of Modesto, State of California, this _______ day of ________________, 20___, by and between the City of Modesto, a municipal corporation of the State of California, hereinafter called CITY, and _________, a __________ ____________, hereinafter called VENDOR.
W I T N E S E T H:
WHEREAS, the Modesto City Council adopted Resolution No. 20____-______ authorizing the Award of Bid and agreement for the [????????] materials, supplies or equipment described herein (the “GOODS”) to VENDOR, attached hereto as Exhibit “A” and made a part hereof, and WHEREAS, the CONTRACTOR provided a responsive and responsible submittal that best meets the CITY needs, attached hereto as Exhibit “B” and made a part hereof, and #17..
- 438 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
28 WHEREAS, the CITY and CONTRACTOR shall enter into an agreement for the _____ GOODS as described in IFB ____-____, attached hereto as Exhibit “C” and made a part hereof (hereinafter called IFB).
NOW, THEREFORE, the parties hereto mutually agree as follows:
1. TERM OF AGREEMENT
The term of the AGREEMENT shall be for a period of one (1) year, with four (4) one-year extension options at the sole discretion of CITY, for a total of up to five (5) years.
Year 1: MONTH DD, 20___ through MONTH DD, 20___
Year 2: MONTH DD, 20___ through MONTH DD, 20___
Year 3: MONTH DD, 20___ through MONTH DD, 20___
Year 4: MONTH DD, 20___ through MONTH DD, 20___
Year 5: MONTH DD, 20___ through MONTH DD, 20___
2. PRICING
A. Per the aforementioned Council Resolution, the annual estimated amount of the AGREEMENT is $_______. The total amount paid by CITY to VENDOR over the full term of the AGREEMENT shall not exceed $________.
B. The AGREEMENT pricing is attached hereto as Exhibit D. Pricing during AGREEMENT Year one shall be as set forth in Exhibit D, attached hereto and made a part hereof by this reference.
C. The CITY and VENDOR may agree to update the products and prices contained in Exhibit D to add, remove, or substitute items, or change pricing. All changes shall be in writing and approved by the Finance Director.
D. Pricing shall remain firm for the first year of the AGREEMENT.
E. Price increases for each subsequent AGREEMENT years two, three, four, and five, shall be negotiated in good faith by the parties, but in no instance may exceed the net percentage increase during the prior 12-month period in the Federal Bureau of Labor Statistics’ Producer Price Index (PPI) Series ID: PCU3329133329136 (Plumbing fixture fitting and trim manufacturing - Miscellaneous metal and nonmetal plumbing fixtures, fittings, and trim, not seasonally adjusted). Requests for price increases in any renewal year shall be submitted by VENDOR in writing at least ninety (90) days prior to the annual anniversary date of the AGREEMENT.
#17..
- 439 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
29 3. USAGE
Vendor shall provide whatever quantities may be required during the term of this Agreement. No minimum or maximum quantities are guaranteed or implied by CITY.
4. ORDERING
Vendor shall deliver GOODS to the location specified within CITY’s purchase order. Unless specified by the Purchasing Division, no GOODS may be delivered to CITY unless a purchase order has been provided by CITY to VENDOR.
5. PAYMENT
All invoices shall be paid in full by CITY after completion and acceptance of the GOODS by the City, and receipt of a properly prepared invoice submitted by VENDOR via email to [email protected]. As specified by the Purchasing Division, every invoice must reference this AGREEMENT number or CITY’s purchase order number. VENDOR will be paid by CITY via the following payment method [TO BE DETERMINED BY IFB RESPONSE IN FINAL AGREEMENT, EITHER “Net 30 terms via CITY’s ePay Program” or “Net 45 Days via manual check”.]
6. AMENDMENTS
No changes to this AGREEMENT shall be effective unless documented by a written amendment to this AGREEMENT and signed by the parties hereto with CITY represented by the Purchasing Division.
7. TERMINATION
A. In the event either party fails to perform under this AGREEMENT or breaches any condition contained herein, the other party shall notify in writing the breaching party of the nonperformance. Within thirty (30) days after receipt of notification, the breaching party shall correct any non-performance to the reasonable satisfaction of the non-breaching party. Failure to correct any non-performance shall allow the non-breaching party to terminate this AGREEMENT for cause.
B. CITY may terminate this AGREEMENT for convenience upon thirty (30) days prior notice to VENDOR by CITY’s authorized employee.
8. INSPECTION
All GOODS are subject to inspection and testing by the CITY for compliance with specifications as included herein, within a reasonable time after delivery. In the event GOODS are defective or not in conformity with this AGREEMENT or CITY’s purchase order, the CITY shall have the right to either reject the GOODS or require correction. Defective articles or services shall be removed from CITY premises and/or corrected by and at the expense of VENDOR; provided that should the VENDOR fail, neglect or refuse to do so, the CITY shall thereupon have the right to purchase in the open market, in lieu thereof, a corresponding quantity of any such items. CITY may deduct from any moneys due or that may there after coming due to VENDOR or send an invoice to the VENDOR which shall be paid within thirty (30) DAYS, THE difference between the prices named in the contract or purchase #17..
- 440 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
30 order and the actual cost thereof to the CITY. In the event that the VENDOR fails to make prompt delivery as specified for any item, the same conditions as to the rights of the CITY to purchase in the open market and to reimbursement set forth above shall apply, except when delivery is delayed by fire, strike, freight embargo, or Act of God or the government. Cost of inspection or deliveries or offers for delivery, which do not meet specifications, will be borne by the Bidder. Failure by CITY to inspect and accept or reject shall not relieve the VENDOR from responsibility for compliance with specifications. Final acceptance shall be conclusive except as regards to latent defects, fraud, or such gross mistakes as amount to fraud.
9. RESPONSIBILITY
Unless otherwise specified, the VENDOR shall be responsible for all GOODS until delivered at CITY’s designated delivery point and shall bear all risks as to items rejected or requiring correction after notice of such rejection or correction is given.
10. SHIPMENT
Unless otherwise authorized by CITY’s Purchasing Division, GOODS shall be delivered F.O.B.
Destination Freight Prepaid and Included in Price of GOODS. VENDOR may not collect freight collect or charge shipping expenses otherwise to CITY. Original receipted freight bill must accompany the invoice. Shipment must be made within the time stated on Purchase Order, failing which CITY reserves the right to purchase elsewhere and charge VENDOR with any loss incurred, unless delay in making shipment is due to unforeseeable causes beyond the control and without the fault or negligence of VENDOR.
11. CHANGES
The AGREEMENT or purchase order may at any time, by written order of the CITY, be changed in regard to the GOODS to be furnished, quantities ordered, unit price, discount, delivery point or arrangements, terms or any other matters affecting a valid purchase order or AGREEMENT. In the event such change causes an increase or decrease in the cost of performance hereunder, and equitable adjustment will be made for the cost thereof, subject to the approval of the Purchasing Manager, and written notice given, therefore.
12. WARRANTY
Notwithstanding any other provisions of the purchase order, VENDOR warranties for the GOODS shall extend for 90 days after delivery thereof to CITY, shall meet or exceed all original manufacturer warranties, and that GOODS shall be of the most suitable grade as specified in this AGREEMENT, VENDOR’s own marketing materials and in the purchase order. Moreover, VENDOR warrants and represents that GOODS shall comply with warranties of merchantability and fitness for a particular purpose. If a defect is discovered in any GOODS covered in this AGREEMENT, VENDOR shall correct at its expense, including transportation/freight, such defects as are reported within one year of final acceptance.
13. INSURANCE
Any AGREEMENT or purchase order where work, maintenance, or service is performed on CITY property requires appropriate insurance. VENDOR shall ensure proper insurance certificates are on #17..
- 441 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
31 file with the CITY prior to performing onsite work. Contact CITY’s Purchasing Division to verify the type of insurance required.
14. TAX EXEMPTIONS
The CITY is exempt from payment of federal excise tax. All invoices shall be exclusive of such excise tax. Moreover, if the CITY’s purchase is not subject to sales tax, the statement for resale will appear in the body of the purchase order.
15. INDEMNITIES
A. VENDOR agrees to protect, indemnify and save harmless CITY and its agents, officers, employees, and volunteers from any claim, loss or damage from VENDOR’s, or the GOODs’, infringement of trademarks, patents, copyrights and unfair competition action with to any third party.
B. VENDOR shall hold the CITY and its agents, officers, employees, and volunteers, harmless from and save, defend and indemnify them against any and all claims, losses, liabilities, judgments or damages from every cause, including but not limited to injury to person or property or wrongful death, including reasonable costs and expenses of defense of any judicial or administrative action, arising directly or indirectly out of any negligent or intentional act or omission of VENDOR, or its agents, officers, employees, or subcontractors relating to or during the performance of its obligations under this AGREEMENT, except for claims arising from the willful or active negligence of the CITY. VENDOR’s obligation to defend, indemnify, and hold the city, its agents, officers, and employees harmless under the provisions of this paragraph is not limited to or restricted by any requirement for VENDOR to procure and maintain a policy of insurance VENDOR.
16. GOVERNING LAW
This AGREEMENT shall be deemed made in, governed by, performed in, and construed and enforced in accordance with the laws of the State of California, U.S.A., without giving effect to its conflicts of law provisions or principles.
17. VENUE
Venue for any dispute or claim arising or related to this AGREEMENT its performance, breach, or interpretation (including issues about its validity or enforceability), shall be exclusively in the Superior Court of Stanislaus County or the United States District Court for the Eastern District of California.
18. ATTORNEY'S FEES
If a party to this AGREEMENT brings any action, including an action for declaratory relief, to enforce or interpret the provision of this AGREEMENT, the prevailing party shall be entitled to reasonable attorneys’ fees in addition to any other relief to which that party may be entitled. The court may set such fees in the same action or in a separate action brought for that purpose. #17..
- 442 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
32 19. LIMITATION OF LIABILITY
The CITY shall not be responsible for any damage that may accrue by reason of the death or injury of the person of the VENDOR’s officers, agents, employees, invitees, or licensees, or be set up at any time because of personal injury or damage to property sustained by any other person or persons, which may have been caused or contributed to, approximately or remotely, by reason of or in the course of performance of the AGREEMENT. The VENDOR shall assume full responsibility for the defense of any claims arising under the AGREEMENT and the VENDOR shall save, keep, and bear harmless the CITY, all officers and employees thereof, from all damages, costs, or expenses because of personal injury or property damage based on the performance of this AGREEMENT or asserted against it.
20. NOTICES
Any notice, payment or instrument required or permitted by this AGREEMENT to be given or delivered to either party shall be deemed to have been received when personally delivered, or one calendar week following deposit of the same in any United States Post Office, registered or certified mail, postage prepaid, addressed as follows:
CONTRACTOR: ____________
____________
____________
____________ CITY: City of Modesto
Purchasing DivisionP.O. Box 642
Modesto, CA 95353
Each party may change its address for delivery of notice by delivering written notice of such change of address to the other party.
21. ASSIGNMENT
Neither this AGREEMENT nor any portion hereof shall be subcontracted or assigned without the written consent of the CITY in each and every instance.
22. MISCELLANEOUS
Time is of the essence in each and every provision of this AGREEMENT.
23. ENTIRE AGREEMENT
This AGREEMENT and its exhibits contain the entire understanding between VENDOR and CITY.
Additional or new terms contained in this AGREEMENT which vary from VENDOR’S bid are controlling and are deemed accepted by VENDOR by provision of any GOODS or other commencement of performance hereunder. The terms and conditions of the IFB, attached hereto as Exhibit C, are incorporated herein. In the event of a conflict between the IFB and this AGREEMENT, this AGREEMENT shall control. All previous bids, offers and communications relative to this AGREEMENT, whether oral or written, are hereby superseded except to the extent that they have #17..
- 443 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
33 been incorporated into this AGREEMENT. No future waiver or exception to any of the terms, conditions, and provisions of this AGREEMENT shall be considered valid unless specifically agreed to in writing by the parties.
24. PARTIAL INVALIDITY
If any provision in this AGREEMENT is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions shall nevertheless continue in full force without being impaired or invalidated in any way.
#17..
- 444 -
INVITATION FOR BIDS # IFB-00051
PIPE SADDLES
34 IN WITNESS WHEREOF, the CITY OF MODESTO, a municipal corporation, has authorized the execution of this AGREEMENT by its Director of Finance under authority of Resolution No. 20____- ____ adopted by the Council of the City of Modesto on the _____________ day of _____________________, 20___ and ______________. has caused this Agreement to be duly executed.
CITY OF MODESTO
a municipal corporation
VENDOR
By ________________________________ By ________________________________
DEANNA CHRISTENSEN,
Director of Finance
(Signature) ________________________________
(Name & Title)
#17..
- 445 -
Exhib i t D
Pace Supply – Agreement 322929
Pipe Saddles – I FB 00051
L ine I tem Descript ion Un i t o f
Measure Un i t Cost
1 SADDLE BRONZE 4" X 2" IP AC Each $140.61
2 SADDLE BRONZE 6" X 2" IP AC Each $163.87
3 SADDLE BRONZE 8" X 2" IP AC Each $185.05
4 SADDLE BRONZE 10" X 2" IP AC Each $235.93
5 SADDLE BRONZE 12" X 2" IP AC Each $268.80
6 SADDLE BRONZE 4" X 2" IP C900 Each $108.50
7 SADDLE BRONZE 6" X 1" IP C900 Each $59.20
8 SADDLE BRONZE 6" X 2" IP C900 Each $111.71
9 SADDLE BRONZE 8" X 1" IP C900 Each $82.88
10 SADDLE BRONZE 8" X 2" IP C900 Each $127.55
11 SADDLE BRONZE 10" X 1" IP C900 Each $223.99
12 SADDLE BRONZE 10" X 2" IP C900 Each $223.99
13 SADDLE BRONZE 12" X 1" IP C900 Each $241.30
14 SADDLE BRONZE 12" X 2" IP C900 Each $241.30
15 SADDLE 4" X 2" IP ODS Each $64.93
16 SADDLE, D I BODY TWO SS STRAPS IP
6" X 1" C900 - Epoxy Coated Each $63.05
17 SADDLE 6" X 2" IP ODS Each $80.11
18 SADDLE 8" X 2" IP ODS Each $86.47
19 SADDLE C I /D I /C900/SDR 4" X 2" IP
4.50/4.80/5.40 - Epoxy Coated Each $77.22
20 SADDLE C I /D I /C900/SDR 6" X 2" IP
6.63/6.90/7.60 - Epoxy Coated Each $80.11
21 SADDLE C I /D I /C900/SDR 8" X 2" IP Each $83.33
22 SADDLE, D I BODY TWO SS STRAPS 16"
X 2" IP 17.40, M IN RANGE 17.30-17.50 Each $113.49
23 SADDLE DI /POWERSEAL 10" X 2" 10.62- 12.12 Each $87.46 24 SADDLE DI /POWERSEAL 12" X 2" 12.62- 14.32 Each $96.95 #17..
- 446 -
Cost Abstract
IFB-00051 Pipe Saddles
Vendor Total
Pace Supply $53,897.78
Ferguson Waterworks $57,262.53
#17..
- 447 -
#17..
- 448 -
#17..
- 449 -
CITY OF MODESTO
COUNCIL AGENDA REPORT
DATE OF MEETING:
July 14, 2026
Date: June 15, 2026
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: May 2026 Accounts Payable Register and Void Report CONTACT: Maria Garnica, Accounting Manager
[email protected], 209-577-5249
DESCRIPTION:
Consider accepting an Informational Report for the May 2026 Accounts Payable Payment Register and Void Report. (Funding Source: Not Applicable) STRATEGIC PLAN ELEMENT:
This recommended action supports the City’s 2025-2026 Strategic Plan Goal H:
Achieve Long-Term Financial Sustainability.
BACKGROUND:
The Finance Department manages the payment processing for all City disbursements.
The City has three (3) main types of payments which includes the following:
1. Vendors – These payments are associated with goods received and contractual services provided to the City and payroll benefits paid by the City on behalf of City employees.
2. Refunds – These payments are associated with refunds issued for deposits collected and have been authorized to be released for utility services, business licenses, building permits, rental agreements, etc. Additionally, any overpayments made by customers on their utility bills would be refunded through this type of payment.
3. Employees – These payments are associated with City-related travel advances and reimbursements related to training events or City business reimbursements. #18..
- 450 -
City Council, July 14, 2026
May 2026 Accounts Payable Register and Void Report