Agenda packet, regular meeting — Palm Desert City Council, August 20, 2026 (part 2 of 3)

City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: Monique Lomeli, Senior Deputy Clerk
Department: City Clerk’s Office
Subject: Ratification of Letter of Support for Artists Council Grant Application Recommendation
Ratify the letter of support submitted on June 30, 2026, for the Artists Council’s grant application to Bighorn Cares.

Background
On June 30, 2026, the City of Palm Desert submitted a letter of support for the Artists Council’s grant application to Bighorn Cares.

The grant application requests funding to upgrade essential technology and security equipment, including tablet devices, a desktop computer, and security cameras. The proposed improvements would enhance the organization’s ability to serve members and visitors by improving operations, supporting art sales and online donations, and strengthening gallery and gift shop security.

The Artists Council plays an important role in Palm Desert by providing arts education, exhibitions, and cultural programming that enrich the community. Supporting these capital improvements will help the organization continue serving residents and visitors while strengthening its long-term operational capacity.

The Mayor and Mayor Pro Tem reviewed and approved the letter in advance of formal ratification by the City Council pursuant to Resolution No. 2025-020.

Legal Review
This report has been reviewed by the City Attorney’s Office.

Financial Impact
There is no fiscal impact associated with this action.

Attachments

1. Letter of Support – Artist Council Bighorn Cares Grant Application 143

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Conflict of Interest Awareness Checklist
Note: This checklist is informational only and does not constitute a legal determination. Each Councilmember remains responsible for identifying, disclosing, and evaluating any disqualifying interests under the Political Reform Act and applicable FPPC regulations.

1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☐ Yes
☒ No
If yes, identify the project site:

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

2. SB 1439 / Gov. Code § 84308 Applicability (Campaign Contributions) Does this item involve a license, permit, other entitlement for use, or a contract or franchise agreement that is not competitively bid, a labor agreement, or a personal employment contract?
☐ Yes
☒ No
If yes, identify the applicant(s), appellant(s), party, or participant(s):

CITY OF PALM DESERT
73-510 Fred Waring Drive
Palm Desert, California 92260
Tel: 760-346-0611
[email protected]
June 30, 2026

VIA EMAIL
Bighorn Cares
255 Palowet Drive
Palm Desert, CA 92260
RE: Artists Council BIGHORN Cares Grant Application - Support To Whom It May Concern:

On behalf of the City of Palm Desert, I am pleased to provide this letter in support of the Artists Council’s grant application to Bighorn Cares.

The Artists Council has long enriched the Palm Desert community by providing opportunities for artistic expression, arts education, and cultural engagement. Through exhibitions, workshops, community programs, and its support of local artists, the organization plays an important role in enhancing the quality of life for residents and visitors.

The City supports the Artists Council’s request for funding to upgrade essential technology and security equipment, including tablet devices, a desktop computer, and security cameras for its gift shop. These improvements will strengthen the organization's ability to serve members and visitors by streamlining registration, providing easier access to information about classes and exhibitions, facilitating online donations, supporting art sales, and improving security for the gallery and gift shop.

Investments in organizational infrastructure help nonprofit organizations operate more efficiently and continue providing valuable services to the community. By supporting these capital improvements, Bighorn Cares will help ensure the Artists Council can continue connecting people through the arts and serving as a vibrant cultural resource for the Coachella Valley.

Thank you for your consideration of this request. The City of Palm Desert appreciates Bighorn Cares' continued commitment to strengthening nonprofit organizations that make a meaningful difference in our community.

Sincerely,
Mayor Evan Trubee
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City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: Monique Lomeli, Senior Deputy Clerk
Department: City Clerk’s Office
Subject: Ratification of a Letter of Support for CV Link Shade Project Recommendation
Ratify the letter of support submitted on July 8, 2026, for the Coachella Valley Association of Governments’ (CVAG) Proposition 4 funding application for the CV Link Shade Structure and Shade Tree Project.

Background
On July 8, 2026, the City of Palm Desert submitted a letter of support for the Coachella Valley Association of Governments’ (CVAG) Proposition 4 funding application for the CV Link Shade Structure and Shade Tree Project.

The proposed project would install shade structures and drought-tolerant trees along key segments of the CV Link corridor to improve user comfort and safety, encourage walking, bicycling, and mobility device use, and enhance access for residents and visitors while addressing the challenges posed by extreme desert heat.

The project is important to Palm Desert because CV Link serves as a regional active transportation corridor connecting communities throughout the Coachella Valley. The proposed improvements support regional goals related to active transportation, climate resilience, sustainability, public health, and equitable access while enhancing the usability of the corridor for residents and visitors year-round.

The Mayor and Mayor Pro Tem reviewed and approved the letter in advance of formal ratification by the City Council pursuant to Resolution No. 2025-020.

Legal Review
This report has been reviewed by the City Attorney’s Office.

Financial Impact
There is no fiscal impact associated with this action.

Attachments

1. Letter of Support – CV Link Shade Structure and Shade Tree Grant Funding Conflict of Interest Awareness Checklist
147

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Note: This checklist is informational only and does not constitute a legal determination. Each Councilmember remains responsible for identifying, disclosing, and evaluating any disqualifying interests under the Political Reform Act and applicable FPPC regulations.

1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☐ Yes
☒ No
If yes, identify the project site:

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

CITY OF PALM DESERT
73-510 Fred Waring Drive
Palm Desert, California 92260
Tel: 760-346-0611
[email protected]
July 8, 2026

VIA E-MAIL
Coachella Valley Mountains Conservancy
73-710 Fred Waring Drive, Suite 112
Palm Desert, CA 92260
RE: Support for the Coachella Valley Association of Governments’ Proposition 4 Funding Application – CV Link Shade Structure & Shade Tree Project Dear Grant Review Committee,
On behalf of the City of Palm Desert, I am pleased to express our strong support for the Coachella Valley Association of Governments’ (CVAG) Proposition 4 funding application for the CV Link Shade Structure & Shade Tree Project.

The City of Palm Desert has long supported the development of CV Link as a regional active transportation corridor that promotes safe, healthy, and sustainable mobility throughout the Coachella Valley. As a community with significant investment in outdoor recreation, tourism, and alternative transportation, Palm Desert recognizes the importance of making the corridor comfortable and accessible year-round.

The proposed project will install shade structures and drought-tolerant trees along key segments of CV Link to help address the challenges posed by the Coachella Valley's extreme heat. Expanding shaded areas will improve user comfort and safety, encourage walking, bicycling, and mobility device use, and increase access for residents and visitors of all ages and abilities. The project is particularly beneficial for those who rely on active transportation and for vulnerable populations who are disproportionately affected by high temperatures.

In addition to improving the user experience, the project advances important regional goals related to climate resilience, sustainability, public health, and equitable access to recreational amenities. By investing in long-term shade infrastructure, this project will strengthen the functionality and usability of CV Link while contributing to urban cooling efforts and enhancing the quality of life throughout the Coachella Valley. 149
CVAG – CV Link Shade Structure & Shade Tree Project (Support) July 8, 2026

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For these reasons, the City of Palm Desert respectfully supports CVAG's Proposition 4 funding application and encourages the Coachella Valley Mountains Conservancy to give this important project its favorable consideration.

Thank you for your consideration. Should you have any questions, please do not hesitate to contact me.

Sincerely,
Evan Trubee
Mayor
150

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City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: Monique Lomeli, Senior Deputy Clerk
Department: City Clerk’s Office
Subject: Finance Committee Reports
Recommendation
Receive and file the General Fund Report, Parkview Office Complex Report, Desert Willow Golf Resort Financial Reports, and City Treasurer’s Investment Report for periods ending June 30, 2026.

Background
On July 28, 2026, the Finance Committee completed its quarterly review of the financial reports. The reports are presented for City Council review.

Financial Impact
There is no financial impact associated with this action.

Attachments

1. General Fund Report

2. Parkview Office Complex Report

3. Desert Willow Golf Resort Financial Reports

4. City Treasurer’s Investment Report
151

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1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☐ Yes
☒ No
If yes, identify the project site:

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

Financial analysis in this report is provided for the General Fund and is preliminary until year end close.

Revenue Notes
• Property tax is received primarily in January and June and includes the former County Library property tax. The reported variance also reflects prior-year one-time timeshare mitigation revenue from Shadow Ridge.
• Sales tax is generally highest in the fourth and first quarters of the fiscal year. • Transient occupancy tax is also strongest in the fourth and first quarters because those periods are considered peak season in the desert.
• Interest revenue declined due to lower market interest rates. • The increase in All Others includes $3,069,430 in reimbursement related to the Hilary property damage insurance claim.

General Fund Revenue Summary
Revenue
Category
Adjusted
Budget
2025-26 YTD
Actual
2025-26
FY Proj Total
Prior YTD
Actual
Change vs
Prior Year
Sales Tax $24,916,701 $20,769,099 $25,119,099 $25,104,783 ($4,335,685) Measure G /
District Tax $24,300,000 $22,928,902 $27,728,902 $6,275,108 $16,653,793 Transient
Occupancy Tax $22,755,000 $23,275,871 $25,029,825 $23,693,069 ($417,198) Licenses,
Permits, and
Charges
$4,015,015 $3,390,455 $4,494,829 $4,490,218 ($1,099,763) Property Tax $14,712,737 $14,117,872 $14,587,872 $15,614,155 ($1,496,283) Franchise Fees $3,731,710 $3,711,719 $4,389,719 $3,729,388 ($17,669) Interest Income
and Rent $5,256,000 $4,955,379 $5,735,136 $5,660,399 ($705,020) State
Subvention $5,891,000 $6,036,768 $6,037,318 $5,757,549 $279,219 All Others $2,262,955 $6,182,316 $6,349,880 $3,701,371 $2,480,945 Interfund
Transfers In $1,902,700 $212,143 $962,143 $2,682,076 ($2,469,933) Total Revenues $109,743,818 $105,580,523 $120,434,723 $96,708,117 $8,872,407 153
Expenditure Notes
• Expenditures occur at varying times throughout the fiscal year. • General Government expenses include General Services and annual retirement contributions. • Administration costs include insurance and internal department costs. • Police Services include Community Safety and Homelessness Services. • Interfund transfers were made at the start of the fiscal year. • Expenditures for June 30th are preliminary pending completion of fiscal year-end close. • The Fire Fund includes Fire Station 102 construction and Fire Services.

General Fund Expenditure Summary
Expenditure
Category
Adjusted
Budget
2025-26 YTD
Actual
2025-26 FY
Proj Total
Prior YTD
Actual
Change vs
Prior Year
Administration $16,909,119 $13,892,527 $15,959,434 $12,871,505 $1,021,022 Building and
Safety $1,440,274 $1,257,229 $1,331,425 $1,439,415 ($182,186) Capital Projects $1,977,299 $1,823,596 $1,918,985 $1,556,112 $267,484 Community
Development $7,229,477 $5,235,092 $6,456,559 $5,739,024 ($503,932) Economic
Development $5,049,548 $4,244,015 $4,631,480 $4,045,583 $198,432 General
Government and
Contributions
$7,794,805 $6,445,850 $6,912,498 $7,825,845 ($1,379,995) Parks $7,486,237 $6,107,501 $6,809,035 $6,385,553 ($278,052) Police Services $28,687,051 $25,981,842 $28,511,072 $22,579,643 $3,402,199 Public Works $9,233,405 $7,537,831 $8,289,026 $8,202,774 ($664,943) Interfund
Transfers Out $30,952,111 $30,932,111 $30,932,111 $31,988,408 ($1,056,297) Total
Expenditures $116,759,326 $103,457,594 $111,751,625 $102,633,862 $823,732 Expenditure
Category
Adjusted
Budget
2025-26 YTD
Actual
2025-26 FY
Proj Total
Prior YTD
Actual
Change vs
Prior Year
Fire Protection
Services $51,245,439 $28,142,949 $35,142,949 $22,642,496 $5,500,453 154
Contact Information
This summary report is derived from detailed financial information generated by the City’s Finance Department. Questions or requests for additional information may be directed to the Finance Department at [email protected].
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156
Parkview One-Story Building | April-June 2026 | Page 1
Parkview Office Complex
Statement of Activities - April through June 2026
73-720 Fred Waring Drive - One-Story Building
Financial Summary
 Quarterly rental revenue was $211,579, which was $55,579 above the quarterly budget.  Quarterly expenses were $59,964, which was $10,418 below budget.  Quarterly net income was $151,614, which was $65,997 above budget.  Fiscal year-to-date net income was $468,602, which was $126,133 above budget.

April-June 2026 Results
Account Budget Actual Variance Variance % Actual as % of Budget
Revenues
Rental $156,000 $211,579 $55,579 36% 136%
Total Revenues $156,000 $211,579 $55,579 36% 136%
Expenses
Professional - Contract $8,633 $0 ($8,633) -100% 0%
Tenant Improvements $0 $0 $0 - -
Repairs and Maintenance - Building $16,541 $22,107 $5,565 34% 134% Repairs and Maintenance - Streets $0 $0 $0 - -
Repairs and Maintenance - Other Equipment $0 $0 $0 - -
Utilities - Gas and Electric $16,625 $7,151 ($9,474) -57% 43% CAM - Janitorial Services $21,284 $25,322 $4,039 19% 119% CAM - Landscaping Services $900 $1,550 $650 72% 172%
CAM - Alarm $1,500 $919 ($581) -39% 61%
CAM - Pest Control $250 $228 ($22) -9% 0%
CAM - Waste Disposal $1,200 $1,167 ($33) -3% 97%
CAM - Water $1,200 $240 ($960) -80% 20%
CAM - Telephone $2,250 $1,280 ($970) -43% 57%
Total Expenses $70,383 $59,964 ($10,418) -15% 85%
Results
Operating Income $85,617 $151,614 $65,997 77% 177%
Equipment Replacement Reserve $0 $0 $0 0% 0%
Net Income $85,617 $151,614 $65,997 77% 177%
157
Parkview One-Story Building | April-June 2026 | Page 2
Fiscal Year-to-Date Results
Account Budget Actual Variance Variance % Actual as % of Budget
Revenues
Rental $624,000 $632,587 $8,587 1% 101%
Total Revenues $624,000 $632,587 $8,587 1% 101%
Expenses
Professional - Contract $34,531 $7,619 ($26,912) -78% 22% Tenant Improvements $0 $0 $0 - -
Repairs and Maintenance - Building $66,166 $40,196 ($25,970) -39% 61% Repairs and Maintenance - Streets $0 $0 $0 - -
Repairs and Maintenance - Other Equipment $0 $0 $0 - -
Utilities - Gas and Electric $66,500 $27,071 ($39,429) -59% 41% CAM - Janitorial Services $85,134 $75,390 ($9,744) -11% 89% CAM - Landscaping Services $3,600 $3,380 ($220) -6% 94% CAM - Alarm $6,000 $3,001 ($2,999) -50% 50%
CAM - Pest Control $1,000 $492 ($508) -51% 49%
CAM - Waste Disposal $4,800 $3,891 ($909) -19% 81%
CAM - Water $4,800 $669 ($4,131) -86% 14%
CAM - Telephone $9,000 $2,276 ($6,724) -75% 25%
Total Expenses $281,531 $163,985 ($117,545) -42% 58%
Results
Operating Income $342,469 $468,602 $126,133 37% 137%
Equipment Replacement Reserve $0 $0 $0 0% 0%
Net Income $342,469 $468,602 $126,133 37% 137%
Notes
 June expenses are being accrued through mid-August 2026.  Repairs and maintenance work is performed on an as-needed basis.  Revenues do not include interest income, which is allocated at fiscal year-end.  Common Area Maintenance (CAM) charges are shown separately for Finance Committee reporting. They are budgeted together as Common Area Maintenance; overages in one CAM category may be offset by savings in another.  This report excludes the budget and rental revenue recorded in this enterprise fund for the Sheriff Substation and Henderson Building. 158
Revenue, Rounds, and ADR
Expenditures and Resident & Resident PlaƟnum Round Comparison `
159
Desert Willow Golf Resort
Standard Summary Income Statement
For the Month Ending June 30, 2026
MTD MTD % of MTD % of
Actual Budget Budget Prior Year PY

REVENUES
Green Fees & Cart Fees $528,681 $432,972 122% $450,726 117% Merchandise 66,464 62,772 106% 51,858 128%
Other Pro Shop 6,482 7,453 87% 5,657 115%
Range 2,660 1,964 135% 2,415 110%
Food & Beverage 278,764 299,834 93% 233,456 119%
Academy Merchandise 6,324 2,888 219% 9,354 68%
Other Academy 27,232 18,282 149% 12,900 211%
Other G&A Income - - 0% 19,283 0%
------------------------ --------------------- --------------- --------------------------- -------------- TOTAL REVENUE 916,606 826,164 111% 785,648 117%
------------------------ --------------------- --------------- --------------------------- --------------

COST OF SALES
Merchandise 34,614 34,082 102% 25,026 138%
Academy 5,351 2,253 238% 8,136 66%
Food & Beverage 75,695 87,289 87% 74,548 102%
------------------------ --------------------- --------------- --------------------------- -------------- TOTAL COGS 115,661 123,623 94% 107,711 107%
------------------------ --------------------- --------------- --------------------------- -------------- COGS - Merchandise % 52.1% 54.3% 95.9% 48.3% 107.9%
COGS - Academy % 84.6% 78.0% 108.5% 87.0% 97.3%
COGS - F&B % 27.2% 29.1% 93.3% 31.9% 85.0%

PAYROLL
Course and Grounds 231,695 243,713 95% 217,960 106%
Carts, Range, Starters, Etc. 56,790 55,473 102% 59,505 95% Food and Beverage 243,253 213,385 114% 233,650 104%
Pro Shop 79,422 75,362 105% 66,830 119%
Clubhouse Services 25,929 22,701 114% 18,922 137%
Academy 32,043 21,244 151% 17,323 185%
General and Administrative 75,572 68,772 110% 72,008 105% Marketing 47,595 39,005 122% 43,898 108%
------------------------ --------------------- --------------- --------------------------- -------------- TOTAL PAYROLL 792,300 739,654 107% 730,096 109%
------------------------ --------------------- --------------- --------------------------- --------------

OPERATING EXPENSES
Course and Grounds 135,319 190,166 71% 144,006 94%
Carts, Range, Starters, Etc. 8,907 6,334 141% 7,332 121% Food and Beverage 34,098 19,015 179% 24,438 140%
Pro Shop (4,986) 5,576 -89% 11,345 -44%
Clubhouse Services 64,839 80,253 81% 100,868 64%
Academy 3,720 2,982 125% 3,160 118%
General and Administrative 65,910 52,472 126% 67,521 98% Marketing 36,010 27,805 130% 12,805 281%
------------------------ --------------------- --------------- --------------------------- -------------- TOTAL OPERATING EXPENSES 343,817 384,604 89% 371,475 93% ------------------------ --------------------- --------------- --------------------------- -------------- TOTAL EXPENSES 1,251,778 1,247,881 100% 1,209,282 104%
------------------------ --------------------- --------------- --------------------------- -------------- EBITDA (335,172) (421,717) 79% (423,634) 79%
-------------------- ----------------- --------------- ---------------------- -------------- 160 Desert Willow Golf Resort
Standard Summary Income Statement
For the Month Ending June 30, 2026
MTD MTD % of MTD % of
Actual Budget Budget Prior Year PY
EBITDA (335,172) (421,717) 79% (423,634) 79%
------------------------- ---------------------- ------------ ---------------------------- ----------- MANAGEMENT FEES (224,167) (247,916) 90% (223,333) 100%
------------------------- ---------------------- ------------ ---------------------------- -----------

FINANCING ACITIVITY
Interest Expense - Debt - - 0% - 0%
Interest Expense - Leases (1,966) (1,893) 104% (3,860) 51% Interest Income 18,796 15,939 118% 18,222 103%
------------------------- ---------------------- ------------ ---------------------------- ----------- TOTAL FINANCING ACTIVITY 16,830 14,046 120% 14,362 117% ------------------------- ---------------------- ------------ ---------------------------- -----------

OTHER INCOME (EXPENSE)
Non-Operating Revenue 34,059 77,475 44% 26,675 128%
Facility Rent (8,000) (8,000) 100% (8,000) 100%
Depreciation & Amortization (158,855) (160,388) 99% (143,285) 111% Taxes (822) (21) 3914% (730) 113%
------------------------- ---------------------- ------------ ---------------------------- ----------- TOTAL OTHER INCOME (EXPENSE) (133,618) (90,934) 147% (125,340) 107% ------------------------- ---------------------- ------------ ---------------------------- ----------- NET INCOME (676,127) (746,521) 91% (757,946) 89%
=================================== ================ ====== Paid Rounds 7,116 7,287 98% 6,556 109%
Other Rounds 384 327 117% 349 110%
Total Rounds 7,500 7,614 99% 6,905 109%
Revenue/Paid Rounds 129 113 114% 120 107%
Revenue/Total Rounds 122 109 113% 114 107%
Green Fees / Cart Fees per Paid Rounds 74 59 125% 69 108% Green Fees / Cart Fees per Total Rounds 70 57 124% 65 108% F&B Revenue/Total Rounds 37 39 94% 34 110%
Merchandise Revenue/Total Rounds 9 8 107% 8 118%
161
Desert Willow Golf Resort
Standard Summary Income Statement
For the Twelve Months Ending June 30, 2026 YTD YTD % of YTD % of Annual Rolling Actual Budget Budget Prior Year PY Budget 12 Months
REVENUESGreen Fees & Cart Fees $10,737,269 $10,376,685 103% $10,039,053 107% $10,376,685 $10,737,269 Merchandise 1,321,574 1,142,667 116% 1,123,874 118% 1,142,667 1,321,574 Other Pro Shop 493,286 579,304 85% 542,125 91% 579,304 493,286 Range 64,995 76,250 85% 71,135 91% 76,250 64,995
Food & Beverage 4,967,981 4,878,909 102% 4,540,355 109% 4,878,909 4,967,981 Academy Merchandise 80,125 96,447 83% 76,129 105% 96,447 80,125 Other Academy 579,039 422,322 137% 447,636 129% 422,322 579,039 Other G&A Income 34,500 38,233 90% 145,852 24% 38,233 34,500 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- TOTAL REVENUE 18,278,770 17,610,818 104% 16,986,159 108% 17,610,818 18,278,769 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- COST OF SALESMerchandise 751,004 625,420 120% 609,855 123% 625,420 751,004 Academy 58,276 75,229 77% 51,233 114% 75,229 58,276
Food & Beverage 1,325,343 1,399,015 95% 1,287,539 103% 1,399,015 1,325,343 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- TOTAL COGS 2,134,622 2,099,664 102% 1,948,627 110% 2,099,664 2,134,624 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- COGS - Merchandise % 56.8% 54.7% 103.8% 54.3% 104.7% 54.7% 56.8% COGS - Academy % 72.7% 78.0% 93.2% 67.3% 108.1% 78.0% 72.7%COGS - F&B % 26.7% 28.7% 93.0% 28.4% 94.1% 28.7% 26.7%PAYROLLCourse and Grounds 2,548,188 2,811,799 91% 2,434,310 105% 2,811,799 2,548,188 Carts, Range, Starters, Etc. 782,222 706,689 111% 748,297 105% 706,689 782,222 Food and Beverage 2,973,712 2,998,781 99% 2,843,413 105% 2,998,781 2,973,712 Pro Shop 765,263 786,806 97% 697,215 110% 786,806 765,263 Clubhouse Services 280,451 275,331 102% 258,983 108% 275,331 280,451 Academy 523,324 379,541 138% 433,904 121% 379,541 523,324 General and Administrative 613,930 629,412 98% 594,105 103% 629,412 613,930 Marketing 346,510 315,122 110% 308,278 112% 315,122 346,510 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- TOTAL PAYROLL 8,833,601 8,903,483 99% 8,318,506 106% 8,903,483 8,833,601 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- 162
Desert Willow Golf Resort
Standard Summary Income Statement
For the Twelve Months Ending June 30, 2026 YTD YTD % of YTD % of Annual Rolling Actual Budget Budget Prior Year PY Budget 12 Months
OPERATING EXPENSESCourse and Grounds 2,016,828 2,217,116 91% 2,119,646 95% 2,217,116 2,016,828 Carts, Range, Starters, Etc. 140,614 114,288 123% 116,872 120% 114,288 140,614 Food and Beverage 621,770 575,975 108% 616,763 101% 575,975 621,770 Pro Shop 97,942 116,453 84% 142,218 69% 116,453 97,942 Clubhouse Services 708,484 706,689 100% 740,621 96% 706,689 708,484 Academy 29,325 38,571 76% 35,731 82% 38,571 29,325 General and Administrative 921,802 816,663 113% 821,089 112% 816,663 921,802 Marketing 139,953 183,530 76% 127,840 109% 183,530 139,953 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- TOTAL OPERATING EXPENSES 4,676,719 4,769,285 98% 4,720,781 99% 4,769,285 4,676,719 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- TOTAL EXPENSES 15,644,943 15,772,431 99% 14,987,914 104% 15,772,431 15,644,943 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- EBITDA 2,633,826 1,838,387 143% 1,998,245 132% 1,838,387 2,633,826 -------------------- -------------------- --------------- -------------------- -------------- --------------- --------------- 163
Desert Willow Golf Resort
Standard Summary Income Statement
For the Twelve Months Ending June 30, 2026 YTD YTD % of YTD % of Annual Rolling Actual Budget Budget Prior Year PY Budget 12 Months
EBITDA 2,633,826 1,838,387 143% 1,998,245 132% 1,838,387 2,633,826 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- MANAGEMENT FEES (490,000) (514,842) 95% (480,000) 102% (514,842) (490,000) ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- FINANCING ACITIVITYInterest Expense - Debt - - 0% - 0% - 0% Interest Expense - Leases (33,909) (33,189) 102% (55,809) 61% (33,189) (33,909) Interest Income 187,382 171,384 109% 189,173 99% 171,384 187,382 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- TOTAL FINANCING ACTIVITY 153,473 138,195 111% 133,364 115% 138,195 153,473 ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- OTHER INCOME (EXPENSE)Non-Operating Revenue 132,412 159,899 83% 187,623 71% 159,899 132,412 Facility Rent (96,000) (96,000) 100% (96,000) 100% (96,000) (96,000) Depreciation & Amortization (1,705,220) (1,924,656) 89% (1,692,353) 101% (1,924,656) (1,705,220) Taxes (19,521) (24,723) 79% (18,437) 106% (24,723) (19,521) ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- TOTAL OTHER INCOME (EXPENSE) (1,688,329) (1,885,480) 90% (1,619,167) 104% (1,885,480) (1,688,329) ------------------------- ------------------------- --------------- ------------------------- -------------- ------------------- ------------------- NET INCOME 608,969 (423,739) -144% 32,443 1877% (423,740) 608,970 ============== ============== ======== ============== ======== =========== =========== Paid Rounds 87,943 89,284 98% 85,069 103% 89,284 87,943 Other Rounds 2,443 2,192 111% 2,219 110% 2,192 2,443
Total Rounds 90,386 91,476 99% 87,288 104% 91,475 90,386 Revenue/Paid Rounds 208 197 105% 200 104% 197 208
Revenue/Total Rounds 202 193 105% 195 104% 193 202Green Fees / Cart Fees per Paid Rounds 122 116 105% 118 103% 116 122Green Fees / Cart Fees per Total Rounds 119 113 105% 115 103% 113 119F&B Revenue/Total Rounds 55 53 103% 52 106% 53 55 Merchandise Revenue/Total Rounds 15 12 117% 13 114% 12 16415 DWGR
Round Mix Analysis
For the Month Ended June 30, 2026
Rounds Dollars
Category 2025/2026 % Budget % Variance 2024/2025 % Variance 2025/2026 % Budget % Variance 2024/2025 % VariancePublic Rack 2,856 40% 2,500 34% 356 2,758 42% 98 $ 219,001 42% 155,963 36% 63,038 $ $ 201,493 44% 17,508 $ Residents 950 13% 930 13% 20 837 13% 113 $ 43,694 8% 38,041 9% 5,653 $ $ 37,199 8% 6,495 $ Outings 2,108 30% 2,006 28% 102 1,890 29% 218 $ 179,995 34% 140,006 33% 39,989 $ $ 148,075 33% 31,920 $ Wholesale 824 12% 1,093 15% (269) 679 10% 145 $ 12% 64,562 62,118 $ 15% (2,444) $ $ 10% 14,806 47,312 $ Loyalty/Special 378 5% 759 10% (381) 392 6% (14) $ 19,487 4% 31,057 $ 7% (11,570) $ $ 19,823 4% (336) $ Total 7,116 7,287 (171) 6,556 560 $ 524,295 $ 429,629 $ 94,666 $ 453,902 $ 70,393 -2% 9% 22% 16%
Comp/Employee 384 327 57 349 35 -$ $ - -$ $ -
Total 7,500 7,614 (114) 6,905 595 $ 524,295 $ 429,629 $ 94,666 $ 453,902 $ 70,393 2025/2026 Budget 2024/2025
Public Rack 77$ 62$ 73$ Residents 46$ 41$ 44$ Outings 85$ 70$ 78$ Wholesale 75$ 59$ $ 70Loyalty/Special 52$ 41$ 51$
Total 74$ 59$ 69$
Average Dollars per Round
165
DWGR
Round Mix Analysis
For the Twelve Months Ended June 30, 2026
Rounds Dollars
Category 2025/2026 % Budget % Variance 2024/2025 % Variance 2025/2026 % Budget % Variance 2024/2025 % VariancePublic Rack 26,750 30% 26,948 30% (198) 26,866 32% (116) $ 3,666,287 34% 3,580,293 $ 35% 85,993 $ $ 3,622,169 36% 44,118 $ Residents 21% 19,197 22% (701) 18,496 17,513 21% 983 $ 1,174,448 11% 1,335,978 13% (161,530) $ $ 1,120,115 11% 54,333 $ Outings 25% 19,467 22% 2,516 21,983 18,780 22% 3,203 $ 3,387,441 32% 2,777,125 27% 610,316 $ $ 2,728,073 27% 659,368 $ Wholesale 9% 10,620 12% (2,439) 8,181 8,492 10% (311) 1,001,850 9% 1,208,427 $ 12% (206,578) 1,011,638 10% (9,788)Loyalty/SpecialLoyalty/Special 14% 13,051 15% (518) 12,533 13,418 16% (885) $ 1,477,532 14% 1,457,431 $ 14% 20,101 $ $ 1,544,967 15% (67,435) $ Total 87,943 89,283 (1,340) 85,069 2,874 $ 10,707,557 $ 10,359,255 $ 348,303 $ 10,026,962 $ 680,595 -2% 3% 3% 7%
Comp/Employee 2,443 2,192 251 2,219 224 $ - $ - $ - $ - Total 90,386 91,475 (1,089) 87,288 3,098 $ 10,707,557 $ 10,359,255 $ 348,303 $ 10,026,962 $ 680,595 2025/2026 Budget 2024/2025
Public Rack $ 137 133$ 135$
Residents $ 63 70$ 64$
Outings $ 154 143$ 145$
Wholesale $ 122 114$ 119$
Loyalty/Special $ 118 112$ 115$
Total $ 122 116$ 118$
Average Dollars per Round
166
2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026 OPERATIONAL INCOME STATEMENT Actuals Actuals Actuals Actuals Actuals Actual /Estimated Beginning Cash Balance 2,374,599 3,817,067 4,911,680 7,074,899 7,014,127 7,360,801

REVENUES
Green Fees & Cart Fees 9,060,713 7,481,139 9,950,274 9,699,219 10,039,053 10,737,269 Merchandise 1,060,234 785,205 1,189,967 1,118,598 1,123,873 1,321,574 Other Pro Shop 482,003 491,579 489,034 534,480 542,126 493,286 Range 77,941 67,454 74,730 75,990 71,135 64,995
Food & Beverage 3,975,953 2,181,902 4,875,792 4,570,976 4,540,355 4,967,981 Academy Merchandise 64,932 77,263 90,049 96,033 76,126 80,125 Other Academy 323,023 268,967 365,365 406,040 447,638 579,039 Other G&A Income 37,621 14,504 44,230 38,288 145,852 34,500 Transfer in from GF - - - - -
TOTAL REVENUE 11,368,013 15,082,421 17,079,440 16,539,624 16,986,159 18,278,770

EXPENDITURES
Cost of Good Sold 1,719,241 1,200,530 2,067,673 1,922,215 1,948,627 2,134,624 Payroll 6,661,711 5,410,712 7,736,206 7,931,357 8,318,506 8,833,601 Operating Expenses 3,624,504 2,918,415 4,251,906 4,286,548 4,720,781 4,676,719 Equipment/Leases 988,548 469,030 670,162 866,902 944,491 945,214 Other Expense 518,614 557,776 604,061 379,393 134,437 319,636 Loan Repayment from City ($0.5M still outstanding) - 500,000 500,000 500,000 500,000 - Capital Improvement Plan
Golf Course Renovation - - - 4,694,743 5,361,569 -
Annual DWGR Capital Replacement Expenditures 459,151 414,346 687,227 207,292 277,611 1,009,500 Annual Perimeter & DW Drive Expenditures 187,417 190,454 195,855 192,725 197,197 510,000 Total CIP 646,568 604,801 883,082 5,094,760 5,836,377 1,519,500 TOTAL EXPENDITURES 11,203,031 14,617,418 16,713,090 20,981,175 22,403,219 18,429,294 Net Surplus/(Deficit) 164,982 465,003 366,350 (4,441,551) (5,417,060) (150,524) Transfer in from Capital Reserve 577,065 464,767 883,082 4,944,946 5,650,091 1,360,000 Accrual to Cash Basis Adjustment 700,421 164,843 913,787 (564,167) 113,643 (242,741)

OPERATIONS RESERVE PLAN/ANALYSIS
Ending DW Cash Balance/Reserve 3,817,067 4,911,680 7,074,899 7,014,127 7,360,801 8,327,536 Restricted for Outstanding Operational Loan 2,000,000 1,500,000 1,000,000 500,000 - - 90 Day Operations Reserve 2,639,116 3,378,154 3,832,502 2,797,217 4,052,980 3,096,675 Reserve Surplus/(Deficit) * (822,049) 33,525 2,242,397 3,716,910 3,307,821 5,230,861 * - Risk to General Fund
*CIP Reserve is currently fully funded by Amenity Fee from TimeShares/Capital Reserve Fund Balance is held by the City.

Desert Willow Golf Resort
Budget and Cash Flow Analysis
167

9.5 9.6 9.1 9.7 9.4
0% 20% 40% 60% 80% 100%

88.89%

2.34% 88.89%

2.34%
Promoters Detractors

NET PROMOTER SCORE

86.5 Net Promoter Score (NPS) is the
percentage of promoters (9–10) minus
detractors (0–6), requiring at least 25
responses for a definitive sample size; 70+ is
the target benchmark for KemperSports.

SATISFACTION SCORES BY KEY METRICS

9.5 9.6 9.1 9.7 9.4
Promoters (9–10) are enthusiastic and likely to recommend you. Passives (7–8) are satisfied but uncommitted. Detractors (0–6) are unhappy and may discourage others.

OVERALL

EXPERIENCE
VALUE

PERCEPTION
FOOD &

BEVERAGE

SERVICE

SATISFACTION
COURSE

CONDITIONS
70 80
90 100
Jul 2025
Aug 2025
Sep 2025
Oct 2025
Nov 2025
Dec 2025
Jan 2026
Feb 2026
Mar 2026
Apr 2026
May 2026
Jun 2026

91.3 85.9 86.9

81.3 87.1 86.8

89.4 92

87.5 84.5

88.6 86.5
Target

NUMBER OF RESPONSES
With fewer than 25 responses, results are
indicative/directional — not statistically
reliable.
171
Jun 1, 2026 - Jun 30, 2026
Desert Willow Golf Resort | Performance Dashboard
168

0.0%

20.0%

40.0%

60.0%

80.0%
100.0%
120.0%
Tee Time Reservation Booking Confirmation Retail Experience Practice Area On Course Services On Course Presentation
Food & Beverage Facility
Desert Willow
Customer Experience Evaluation
(59 Club)
Most Recent Evaluation - June 2026
Desert Willow Golf Resort Industry Average (59 Club Venues) Podium Set Avg 169
Desert Willow/PDRFC
Statement of Cash Flows-Combined
Indirect Method Reconciliation
6/30/2026
Cash Flows from Operating Activities
Net Income (Loss) 608,972
Adjustments to reconcile net loss to
net cash provided by operating activities
Depreciation & Amortization expense 1,705,221
Bad Debt expense -
Gain on disposal of assets -
(Increase) Decrease in assets
Accounts Receivable (13,166)
Due from Employees -
Inventories (29,382)
Prepaid expenses (17,697)
Increase (Decrease) in liabilities
Accounts Payable (195,398)
Accrued Liabilities 25,111
Deferred Revenue (48,316)
Interest -
Due to Affiliates -
1,426,373
Net cash flows from operating activities 2,035,345
170
Desert Willow/PDRFC
Statement of Cash Flows-Combined
Direct Method
6/30/2026
Cash Flows from Operating Activities
Cash Received From Customers 17,988,319
Interest Received 187,382
Other Operating Cash Receipts 132,412
Cash Paid to Suppliers and Employees (16,219,338)
Interest Paid (33,909)
Taxes Paid (19,521)
Net cash flows from operating activities 2,035,345
Cash Flows from Investing Activities
Contributed Capital 43,748.00
Purchases of Property and Equipment (201,053)
Proceeds from sale of Property and Equipment -
Net cash flows from investing activities (157,305)
Cash Flows from Financing Activities
Loan proceeds-KSM/CITY -
Principal payments (911,305)
Net cash flows from financing activities (911,305)
Net change in cash 966,735
Cash at beginning of period 7,360,801
Cash at end of period 8,327,536
171
DWGR
F&B Revenue Analysis
Year-to-Date Revenue Analysis
6/30/2026
Dining Analysis
2025.2026 2024.2025 Variance %
Dining Covers 77,073 76,721 352 0%Dining Revenue 2,125,817 $ 2,067,581 $ 58,236 3%Dining - Ave Check 27.58 $ 26.95 $ 0.63 $ 2% Catering Analysis
2025.2026 2024.2025 Variance %
Catering Covers 20,202 16,095 4,107 $ 26%Catering Revenue 1,850,999 $ 1,671,905 $ 179,094 $ 11%Catering Ave Check 91.62 $ 103.88 $ (12.25) $ -12% Outlet Analysis
2025.2026 2024.2025 Variance %
Outlet Rounds 90,488 87,273 3,215 $ 4%Outlet Revenue 808,510 $ 660,227 $ 148,283 $ 22%Outlet Ave Check 8.93 $ 7.57 $ 1.37 $ 18%Total F&B Revenue 4,785,326 $ 4,399,713 $ 385,613 $ 9% 172
2025.2026 July August September October November December January February March April May June Totals Dining Covers 1,844 1,706 3,010 5,253 6,788 5,933 8,220 11,382 12,695 9,161 7,096 3,985 77,073 Catering Covers 292 291 1,327 2,227 1,750 2,228 1,960 2,295 2,584 1,896 2,401 951 20,202 2,136 1,997 4,337 7,480 8,538 8,161 10,180 13,677 15,279 11,057 9,497 4,936 97,275 Dining Revenue $ 42,986 $ 44,073 $ 76,506 $ 152,174 $ 223,612 $ 151,466 $ 226,261 $ 293,161 $ 325,611 $ 292,507 $ 200,793 $ 96,666 $ 2,125,817 Catering Revenue $ 24,352 $ 11,921 $ 50,604 $ 250,016 $ 162,186 $ 177,496 $ 333,340 $ 204,803 $ 225,946 $ 113,106 $ 198,927 $ 98,303 $ 1,850,999 $ 67,339 $ 55,994 $ 127,110 $ 402,191 $ 385,798 $ 328,962 $ 559,600 $ 497,965 $ 551,556 $ 405,613 $ 399,720 $ 194,969 $ 3,976,816 Dining - Ave Check $ 23.31 $ 25.83 $ 25.42 $ 28.97 $ 32.94 $ 25.53 $ 27.53 $ 25.76 $ 25.65 $ 31.93 $ 28.30 $ 24.26 $ 27.58 Catering - Ave Check $ 83.40 40.96 $ 38.13 $ 112.27 $ 92.68 $ 79.67 $ 170.07 $ 89.24 $ 87.44 $ 59.65 $ 82.85 $ 103.37 $ 91.62 Outlet Revenue $ 16,762 $ 21,101 $ 56,136 $ 78,328 $ 52,103 $ 49,902 $ 82,641 $ 97,151 $ 84,508 $ 90,170 $ 104,675 $ 75,032 $ 808,510 Rounds 2,685 2,768 5,752 7,529 5,779 6,569 9,827 10,384 11,514 10,958 9,121 7,602 90,488$'s per Round $ 6.24 $ 7.62 $ 9.76 $ 10.40 $ 9.02 $ 7.60 $ 8.41 $ 9.36 $ 7.34 $ 8.23 $ 11.48 $ 9.87 $ 8.93 2024.2025 July August September October November December January February March April May June Totals Dining Covers 1,235 1,695 3,036 5,345 7,478 5,870 8,130 11,585 12,282 9,395 6,691 3,979 76,721 Catering Covers 347 140 577 2,075 2,083 1,455 946 1,408 2,533 1,647 2,063 821 16,095 1,582 1,835 3,613 7,420 9,561 7,325 9,076 12,993 14,815 11,042 8,754 4,800 92,816 Dining Revenue $ 28,459 $ 44,761 $ 75,298 $ 127,623 $ 225,637 $ 141,588 $ 215,310 $ 308,556 $ 317,720 $ 285,274 $ 203,301 $ 94,054 $ 2,067,580 Catering Revenue $ 14,592 $ 6,290 $ 30,810 $ 252,664 $ 269,407 $ 157,857 $ 82,017 $ 232,632 $ 325,393 $ 103,622 $ 133,886 $ 62,735 $ 1,671,907 $ 43,051 $ 51,051 $ 106,108 $ 380,287 $ 495,044 $ 299,445 $ 297,327 $ 541,188 $ 643,113 $ 388,896 $ 337,187 $ 156,789 $ 3,739,487 Dining - Ave Check $ 23.04 $ 26.41 $ 24.80 $ 23.88 $ 30.17 $ 24.12 $ 26.48 $ 26.63 $ 25.87 $ 30.36 $ 30.38 $ 23.64 $ 26.95 Catering - Ave Check $ 42.05 44.93 $ 53.40 $ 121.77 $ 129.34 $ 108.49 $ 86.70 $ 165.22 $ 128.46 $ 62.92 $ 64.90 $ 76.41 $ 103.88 Outlet Revenue $ 7,308 $ 14,798 $ 29,592 $ 66,297 $ 45,176 $ 44,896 $ 60,911 $ 65,649 $ 78,759 $ 75,773 $ 104,724 $ 66,344 $ 660,227 Rounds 1,921 2,199 4,057 6,896 6,269 6,714 9,865 9,918 11,887 11,175 9,465 6,907 87,273$'s per Round $ 3.80 $ 6.73 $ 7.29 $ 9.61 $ 7.21 $ 6.69 $ 6.17 $ 6.62 $ 6.63 $ 6.78 $ 11.06 $ 9.61 $ 7.57

PDRFC COVER ANALYSIS
173
174
Quarterly Investment Summary Report
City of Palm Desert | Quarter ending June 30, 2026
Overview
The City of Palm Desert’s investment activities and staff analysis for the quarter ending June 30, 2026.

Yield Performance Summary
The City’s yield performance is at 3.93 percent, 26 basis points below the 5-year Treasury bill benchmark at

4.19 percent. The managed portfolio ended the quarter at 4.30 percent. CAMP and LAIF were shown at 3.77 percent and 3.816 percent, respectively.

Yield performance table
Measure Yield
City yield 3.93%
Managed portfolio yield 4.28%
5-year Treasury bill benchmark 4.19%
LAIF yield 3.816%
CAMP yield 3.77%
Activity
Investment transactions were carried out in accordance with the California Government Code, the City’s Investment Policy, and applicable bond indentures.
• Key highlight 1: Idle cash was transferred in and out of CAMP during the quarter to support cash flow needs.
• Key highlight 2: Idle cash was not sent to LAIF as we are at the maximum of $75 million. Ending quarter balance over $75 million due to recording of interest earned (on July 15, 2026) and was drawn down the next day after posting.

Investment summary
Asset class
Beginning book
value
(4/1/2026, $
millions)
Purchases and
deposits
($ millions)
Redemptions
and withdrawals
($ millions)
Ending book
value
(6/30/2026, $
millions)
Portfolio
share
Federal Agency $16.26 $0.83 $(0.03) $17.06 6.1%
Medium-Term Note $20.99 $2.76 $(2.04) $21.71 7.8%
US Treasury $29.63 $5.63 $(0.26) $35.00 12.6%
Commercial Paper $1.45 $4.24 $(0.72) $4.97 1.8%
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 175
Asset class
Beginning book
value
(4/1/2026, $
millions)
Purchases and
deposits
($ millions)
Redemptions
and withdrawals
($ millions)
Ending book
value
(6/30/2026, $
millions)
Portfolio
share
Certificate of
Deposit $4.07 $0.00 $0.00 $4.07 1.5%
CAMP Pool $109.12 $9.50 $(9.00) $109.62 39.5%
LAIF Pool $74.52 $1.33 $(0.12) $75.73 27.3%
County Pool $2.99 $0.05 $0.00 $3.04 1.1%
Money Market Funds $9.48 $44.21 $(47.22) $6.47 2.3%
Investments total $268.51 $68.55 $(59.39) $277.67 100%
Custodian restricted
funds $60.96 $0.54 $(2.24) $59.26
Trustee restricted
funds $3.88 $0.00 $(0.0) $3.88
Cash $3.04 $184.23 $(184.72) $2.55
Cash and cash with
fiscal agent total $67.88 $184.77 $(186.96) $65.69
Grand total $336.39 $253.32 $(246.35) $343.36
Restricted funds are based on bond indenture terms. All dollar amounts are shown in millions, as presented in the source report.

Current Asset Allocation and Managed Portfolio Maturities The City remains within policy limits and continues to emphasize local government investment pools to capture higher short-term yields while preserving liquidity for ongoing capital projects. The managed portfolio continues to balance maturities across the zero-to-five-year range and uses the six-to-twelve-month maturity bucket to evaluate opportunities for reallocation before final maturity.

Current asset allocation
Allocation category Portfolio share
Local Government Investment Pools 67.85%
US Treasury 12.60%
Medium-Term Note 7.82%
Federal Agency 6.14%
Money Market Funds 2.33%
Certificate of Deposit 1.47%
Commercial Paper 1.79%
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 176
Managed portfolio maturities
Maturity bucket Portfolio share
0 to 6 months 5.69%
6 to 12 months 7.89%
1 to 2 years 23.27%
2 to 3 years 24.98%
3 to 4 years 21.28%
4 to 5 years 16.89%
Quarterly Market Value Changes
For the quarter ending June 30, 2026, there was an overall market value increase of 11.808 percent compared with the quarter ending March 31, 2026. Changes due to investment of $10 million in our core managed investments.

Security type March market value June market value Dollar change Federal Agency $16,407,971.81 $17,124,314.04 $716,342.23 Medium-Term Note $20,940,975.08 $21,573,374.87 $632,399.79 US Treasury $31,430,929.19 $35,344,166.65 $3,913,237.46 Commercial Paper $1,477,017.18 $4,992,002.50 $3,514,985.32 Certificate of Deposit $4,061,434.01 $4,059,976.77 $(1,457.24) Total $74,318,327.27 $83,093,834.83 $8,775,507.56
Market Value Change Increase 11.808%
Compliance Statement
This investment portfolio is in compliance with California Government Code Section 53601 and the City of Palm Desert investment policy. Barring unforeseen events, the portfolio has sufficient cash to fund City expenditures for the next six months. US Bank Custody Services provided market value prices for all corporate securities, all balances are bank balances, and the percent-of-portfolio calculation on the portfolio summary page omits demand deposits.

John Ramont
Deputy Finance Director
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 7/21/2026
177
Portfolio Inventory for April 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody's
Rating
% of Plan
Assets
State of California Local Agency
Investment Fund LAIF n/a $74,999,403.49 $74,999,403.49 n/a n/a n/a n/a n/a $74,999,403.49 $74,999,403.49 n/a n/a n/a Riverside County Treasurer’s
Pooled Investment Fund (TPIF) Riv Co (TPIF) n/a $3,015,167.74 $3,015,167.74 n/a n/a n/a n/a n/a $3,015,167.74 $3,015,167.74 n/a n/a n/a Local Government
Investment Pools CAMP n/a $103,950,698.70 $103,950,698.70 n/a n/a n/a n/a n/a $103,950,698.70 $103,950,698.70 n/a n/a n/a Money Market Fund Allspring 94975P405 $8,499,763.69 $8,499,763.69 3.539% n/a n/a n/a n/a $8,499,763.69 $8,499,763.69 n/a n/a n/a Money Market Fund First American US
Treasury Mm Cl Z
31846V450
#3697 $357,537.54 $357,537.54 3.500% n/a n/a n/a n/a $357,537.54 $357,537.54 n/a n/a n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHU8 $600,000.00 $599,334.63 4.375% 10/12/2023 08/15/2026 4.79% 107 $601,087.80 $593,484.38 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CLH2 $510,000.00 $509,911.23 3.750% 09/05/2024 08/31/2026 3.80% 123 $509,991.84 $509,482.03 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CLH2 $890,000.00 $888,858.20 3.750% 10/29/2024 08/31/2026 4.14% 123 $889,985.76 $883,846.48 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CJK8 $1,250,000.00 $1,251,987.45 4.625% 12/08/2023 11/15/2026 4.32% 199 $1,255,895.00 $1,260,302.73 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CJP7 $510,000.00 $510,544.78 4.375% 11/12/2024 12/15/2026 4.20% 229 $512,094.06 $511,773.05 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 912828V98 $260,000.00 $256,546.53 2.250% 10/10/2024 02/15/2027 3.97% 291 $256,978.54 $250,067.19 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKZ3 $325,000.00 $325,221.09 4.375% 01/17/2025 07/15/2027 4.32% 441 $327,043.93 $325,444.34 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAH4 $1,100,000.00 $1,052,149.07 0.500% 01/31/2024 08/31/2027 4.04% 488 $1,052,433.80 $971,480.47 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFH9 $1,400,000.00 $1,373,972.87 3.125% 07/02/2024 08/31/2027 4.58% 488 $1,386,820.40 $1,340,609.38 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAL5 $1,000,000.00 $946,940.62 0.375% 11/24/2023 09/30/2027 4.50% 518 $952,578.00 $855,703.13 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFU0 $300,000.00 $297,585.27 4.125% 10/16/2023 10/31/2027 4.72% 549 $301,054.80 $293,496.09 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 9128283F5 $250,000.00 $243,066.48 2.250% 12/05/2024 11/15/2027 4.13% 564 $243,955.00 $237,099.61 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAY7 $225,000.00 $212,557.79 0.625% 11/24/2023 11/30/2027 4.48% 579 $213,837.98 $193,420.90 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAY7 $2,000,000.00 $1,897,113.23 0.625% 08/02/2024 11/30/2027 4.01% 579 $1,900,782.00 $1,790,859.38 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CBB6 $1,400,000.00 $1,326,335.14 0.625% 01/26/2024 12/31/2027 4.07% 610 $1,326,992.80 $1,226,421.88 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 9128283W8 $2,350,000.00 $2,309,587.40 2.750% 09/03/2024 02/15/2028 3.75% 656 $2,304,010.50 $2,274,542.97 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CQB0 $1,000,000.00 $993,699.47 3.375% 03/16/2026 02/29/2028 3.73% 670 $991,250.00 $993,281.25 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CMW8 $1,250,000.00 $1,243,767.98 3.750% 03/31/2026 04/15/2028 4.02% 716 $1,246,631.25 $1,243,505.86 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CCE9 $265,000.00 $252,873.30 1.250% 01/14/2026 05/31/2028 3.55% 762 $251,097.84 $251,232.42 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHX2 $600,000.00 $602,404.47 4.375% 11/05/2024 08/31/2028 4.19% 854 $606,234.60 $603,820.31 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CCY5 $545,000.00 $508,719.94 1.250% 12/05/2024 09/30/2028 4.18% 884 $511,916.87 $489,243.95 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CPC9 $540,000.00 $539,527.65 3.500% 12/03/2025 10/15/2028 3.54% 899 $534,895.38 $539,451.56 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CPK1 $345,000.00 $343,740.50 3.500% 01/22/2026 11/15/2028 3.65% 930 $341,617.27 $343,611.91 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CPP0 $155,000.00 $154,416.96 3.500% 01/20/2026 12/15/2028 3.65% 960 $153,450.00 $154,358.20 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CQA2 $1,200,000.00 $1,201,913.73 3.500% 03/05/2026 02/15/2029 3.44% 1,022 $1,187,062.80 $1,202,015.63 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CEM9 $180,000.00 $176,491.35 2.875% 09/24/2024 04/30/2029 3.57% 1,096 $174,712.50 $174,761.72 AA+ Aa1 n/a

04.2026 Portfolio Inventory page 1 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 178
Portfolio Inventory for April 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody's
Rating
% of Plan
Assets
U.S. Treasury Bond / Note US TREASURY N/B 91282CEM9 $550,000.00 $533,908.66 2.875% 10/11/2024 04/30/2029 3.92% 1,096 $533,843.75 $526,259.77 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKT7 $80,000.00 $81,271.02 4.500% 06/05/2025 05/31/2029 3.95% 1,127 $81,328.16 $81,615.63 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKT7 $250,000.00 $252,853.06 4.500% 12/12/2024 05/31/2029 4.10% 1,127 $254,150.50 $254,023.44 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKX8 $250,000.00 $252,601.49 4.250% 07/21/2025 06/30/2029 3.90% 1,157 $252,373.00 $253,193.36 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFL0 $570,000.00 $568,263.26 3.875% 06/05/2025 09/30/2029 3.97% 1,249 $568,663.92 $567,840.23 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CLR0 $230,000.00 $232,779.87 4.125% 01/21/2026 10/31/2029 3.75% 1,280 $231,266.84 $232,982.81 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFY2 $550,000.00 $551,965.66 3.875% 01/21/2026 11/30/2029 3.77% 1,310 $548,496.30 $552,105.47 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGQ8 $400,000.00 $404,598.62 4.000% 10/09/2025 02/28/2030 3.67% 1,400 $400,422.00 $405,218.75 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $285,000.00 $284,667.07 3.625% 01/15/2026 03/31/2030 3.66% 1,431 $281,404.16 $284,643.75 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $290,000.00 $289,280.01 3.625% 01/14/2026 03/31/2030 3.69% 1,431 $286,341.07 $289,229.69 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $550,000.00 $548,513.45 3.625% 01/14/2026 03/31/2030 3.70% 1,431 $543,060.65 $548,410.16 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $680,000.00 $668,125.98 3.625% 05/13/2025 03/31/2030 4.11% 1,431 $671,420.44 $665,470.31 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CNG2 $250,000.00 $253,079.32 4.000% 01/15/2026 05/31/2030 3.67% 1,492 $250,156.25 $253,281.25 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHJ3 $490,000.00 $485,563.73 3.750% 08/05/2025 06/30/2030 3.99% 1,522 $485,559.62 $484,851.17 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHW4 $1,250,000.00 $1,272,015.06 4.125% 10/06/2025 08/31/2030 3.68% 1,584 $1,255,908.75 $1,274,658.20 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHZ7 $1,100,000.00 $1,140,086.26 4.625% 11/06/2025 09/30/2030 3.72% 1,614 $1,127,414.20 $1,144,085.94 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CJX0 $650,000.00 $656,429.78 4.000% 02/10/2026 01/31/2031 3.77% 1,737 $649,238.20 $656,703.13 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKC4 $250,000.00 $252,772.16 4.250% 03/26/2026 02/28/2031 3.99% 1,765 $252,402.25 $252,822.27 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKF7 $215,000.00 $216,874.43 4.125% 04/23/2026 03/31/2031 3.93% 1,796 $215,873.55 $216,881.25 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKF7 $360,000.00 $362,650.07 4.125% 04/14/2026 03/31/2031 3.96% 1,796 $361,462.68 $362,671.88 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKF7 $540,000.00 $542,982.33 4.125% 04/07/2026 03/31/2031 4.00% 1,796 $542,194.02 $543,016.41 AA+ Aa1 n/a Municipal Bond / Note HAWAII ST-TXBL-GP
(CALLABLE) 419792S23 $190,000.00 $190,000.00 4.212% 04/30/2026 04/01/2031 4.21% 1,797 $190,265.43 $190,000.00 AA+ Aa2 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K070 A2 3137FCJK1 $350,000.00 $341,521.19 3.303% 07/05/2024 11/01/2027 4.90% 550 $345,665.25 $332,541.02 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FNA 2018-M2 A2 3136B0YM2 $625,781.75 $614,507.90 3.026% 04/08/2025 01/01/2028 4.07% 611 $613,152.23 $608,034.97 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS KJ46 A1 3137HAD45 $651,377.18 $648,656.30 4.777% 04/05/2024 06/01/2028 4.99% 763 $654,533.76 $646,033.86 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K505 A2 3137HACX2 $660,000.00 $659,779.00 4.819% 03/20/2024 06/01/2028 4.84% 763 $666,694.38 $659,561.72 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K083 A1 3137FJJV2 $270,009.84 $265,548.90 3.944% 04/30/2024 07/01/2028 4.72% 793 $269,251.38 $262,099.39 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FNA 2023-M6 A2 3136BQDE6 $664,418.29 $661,957.24 4.190% 10/23/2024 07/01/2028 4.35% 793 $663,208.39 $660,421.41 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS KJ47 A1 3137HAMN3 $362,434.30 $363,823.65 5.272% 04/05/2024 08/01/2028 5.10% 824 $365,224.68 $364,926.04 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K508 A2 3137HAQ74 $630,000.00 $626,420.30 4.740% 06/14/2024 08/01/2028 5.00% 824 $636,251.49 $623,823.05 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K507 A2 3137HAMS2 $650,000.00 $648,822.78 4.800% 05/21/2024 09/01/2028 4.88% 855 $657,402.20 $647,968.75 AA+ Aa1 n/a

04.2026 Portfolio Inventory page 2 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 179
Portfolio Inventory for April 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody's
Rating
% of Plan
Assets
Federal Agency Commercial
Mortgage-Backed Security FHMS K509 A2 3137HAST4 $650,000.00 $649,618.42 4.850% 05/21/2024 09/01/2028 4.88% 855 $658,153.60 $649,339.84 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K511 A2 3137HB3G7 $650,000.00 $652,241.57 4.860% 03/28/2024 10/01/2028 4.71% 885 $658,442.85 $653,859.38 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K084 A2 3137FJZ93 $700,000.00 $682,353.68 3.780% 05/21/2024 10/01/2028 4.85% 885 $692,591.20 $670,031.25 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K514 A2 3137HBLV4 $550,000.00 $547,168.51 4.572% 03/20/2024 12/01/2028 4.78% 946 $553,792.25 $545,166.02 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K513 A2 3137HBFY5 $660,000.00 $659,079.65 4.724% 03/20/2024 12/01/2028 4.78% 946 $667,030.98 $658,427.34 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K515 A2 3137HBPD0 $650,000.00 $654,383.80 5.400% 06/03/2024 01/01/2029 5.14% 977 $667,339.40 $657,083.98 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K520 A2 3137HCKV3 $370,000.00 $370,949.94 5.180% 04/30/2024 03/01/2029 5.09% 1,036 $379,066.85 $371,501.83 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security
FHMS K521 AS
FLOATING 3137HCTM4 $647,304.19 $647,304.19 4.166% 05/16/2024 03/25/2029 5.85% 1,060 $645,657.44 $647,304.19 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security
FHMS K519 AS
FLOATING 3137HCKQ4 $656,423.05 $656,423.05 4.121% 04/18/2024 03/25/2029 5.81% 1,060 $655,149.59 $656,423.05 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K524 A2 3137HDV56 $535,000.00 $537,206.89 4.720% 07/25/2024 05/01/2029 4.58% 1,097 $542,076.98 $538,285.43 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security
FHMS K523 AS
FLOATING 3137HDJW1 $648,758.64 $648,758.64 4.202% 06/27/2024 05/25/2029 5.87% 1,121 $648,403.77 $648,758.64 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K526 A2 3137HDXL9 $595,000.00 $598,779.74 4.543% 08/15/2024 07/01/2029 4.33% 1,158 $599,363.73 $600,565.63 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K528 A2 3137HFNZ4 $680,000.00 $680,722.77 4.508% 10/25/2024 07/01/2029 4.47% 1,158 $684,704.92 $681,009.38 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security FHMS K529 A2 3137HH6C0 $405,000.00 $410,761.89 4.791% 10/16/2024 09/01/2029 4.34% 1,220 $410,848.20 $413,094.74 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security
FHMS K534 AS
FLOATING 3137HJ5Z6 $349,015.10 $349,015.10 4.135% 01/30/2025 09/25/2029 4.82% 1,244 $348,071.71 $349,015.10 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security
FHMS K531 AS
FLOATING 3137HHUP4 $454,334.10 $454,334.10 4.199% 12/12/2024 09/25/2029 5.18% 1,244 $453,523.11 $454,334.10 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security
FHMS K535 AS
FLOATING 3137HJSF5 $696,447.54 $696,447.54 4.146% 02/13/2025 10/25/2029 4.84% 1,274 $695,168.16 $696,447.54 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security
FHMS K533 AS
FLOATING 3137HHW31 $409,649.07 $409,649.07 4.170% 01/16/2025 11/25/2029 4.93% 1,305 $409,581.89 $409,649.07 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security
FHMS K536 AS
FLOATING 3137HJZZ3 $643,738.74 $643,738.74 4.152% 02/27/2025 11/25/2029 4.82% 1,305 $642,007.08 $643,738.74 AA+ Aa1 n/a Federal Agency Commercial
Mortgage-Backed Security
FHMS K537 AS
FLOATING 3137HKPG3 $494,871.50 $494,871.50 4.169% 03/20/2025 01/25/2030 4.86% 1,366 $493,731.81 $494,871.50 AA+ Aa1 n/a Corporate Note AMERICAN HONDA
FINANCE 02665WFK2 $185,000.00 $184,901.33 4.900% 07/10/2024 07/09/2027 4.95% 435 $186,000.48 $184,761.35 BBB+ A3 0.07% Corporate Note AMERICAN HONDA
FINANCE 02665WGD7 $325,000.00 $324,988.48 4.550% 07/10/2025 07/09/2027 4.55% 435 $325,295.75 $324,980.50 BBB+ A3 0.12% Corporate Note MERCEDES-BENZ
FIN NA 58769JAC1 $250,000.00 $251,089.84 5.250% 03/15/2024 11/29/2027 4.96% 578 $253,396.25 $252,432.50 A A2 0.10% Corporate Note UBS AG STAMFORD
CT (CALLABLE) 90261AAD4 $250,000.00 $250,000.00 4.864% 01/10/2025 01/10/2028 4.86% 620 $250,953.50 $250,000.00 A+ Aa2 0.09% Corporate Note WELLS FARGO &
COMPANY 95000U3R2 $85,000.00 $85,000.00 4.900% 01/24/2025 01/24/2028 4.90% 634 $85,301.92 $85,000.00 BBB+ A1 0.03% Corporate Note KENVUE INC
(CALLABLE) 49177JAF9 $375,000.00 $381,157.28 5.050% 06/30/2025 03/22/2028 4.12% 692 $380,136.00 $383,853.75 A A2 0.15% Corporate Note WELLS FARGO &
COMPANY 95000U3L5 $320,000.00 $320,000.00 5.707% 04/22/2024 04/22/2028 5.71% 723 $323,832.32 $320,000.00 BBB+ A1 0.12% Corporate Note CITIGROUP INC
(CALLABLE) 172967PZ8 $520,000.00 $520,000.00 4.643% 05/07/2025 05/07/2028 4.64% 738 $520,904.80 $520,000.00 BBB+ A3 0.20% Corporate Note USAA CAPITAL
CORP (CALLABLE) 90327QDA4 $205,000.00 $204,725.61 4.375% 06/02/2025 06/01/2028 4.44% 763 $205,414.10 $204,612.55 AA- Aa2 0.08% Corporate Note HSBC USA INC 40428HR95 $525,000.00 $525,029.97 4.650% 06/03/2025 06/03/2028 4.65% 765 $528,462.90 $525,042.00 A- A2 0.20% Corporate Note JPMORGAN CHASE
& CO (CALLABLE) 46647PEL6 $310,000.00 $310,000.00 4.979% 07/22/2024 07/22/2028 4.98% 814 $312,089.71 $310,000.00 A A1 0.12%

04.2026 Portfolio Inventory page 3 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 180
Portfolio Inventory for April 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody's
Rating
% of Plan
Assets
Corporate Note GOLDMAN SACHS
GROUP INC 38145GAP5 $125,000.00 $125,000.00 4.148% 01/21/2026 01/21/2029 4.15% 997 $124,059.38 $125,000.00 BBB+ A2 0.05% Corporate Note GOLDMAN SACHS
GROUP INC 38145GAP5 $425,000.00 $424,827.85 4.148% 03/03/2026 01/21/2029 4.16% 997 $421,801.88 $424,817.25 BBB+ A2 0.16% Corporate Note PNC FINANCIAL
SERVICES 693475CG8 $290,000.00 $290,000.00 4.075% 01/26/2026 01/26/2029 4.08% 1,002 $288,494.61 $290,000.00 A- A3 0.11% Corporate Note NATIONAL RURAL
UTIL COOP 63743HFN7 $145,000.00 $146,583.42 4.850% 03/31/2026 02/07/2029 4.42% 1,014 $146,634.15 $146,629.80 A- A2 0.06% Corporate Note ALPHABET INC
(CALLABLE) 02079KBJ5 $105,000.00 $104,645.07 3.700% 02/13/2026 02/15/2029 3.83% 1,022 $103,808.04 $104,618.85 AA+ Aa2 0.04% Corporate Note REALTY INCOME
CORP (CALLABLE) 756109CF9 $295,000.00 $298,301.94 4.750% 03/18/2026 02/15/2029 4.32% 1,022 $297,816.37 $298,439.70 A- A3 0.11% Corporate Note CISCO SYSTEMS
INC (CALLABLE) 17275RBR2 $350,000.00 $357,474.13 4.850% 11/10/2025 02/26/2029 4.04% 1,033 $355,776.75 $358,690.50 AA- A1 0.14% Corporate Note ABBOTT
LABORATORIES 002824BR0 $585,000.00 $584,291.98 3.700% 03/09/2026 03/09/2029 3.75% 1,044 $576,994.86 $584,257.05 A+ Aa3 0.22% Corporate Note MERCEDES-BENZ
FIN NA 58769JBP1 $340,000.00 $339,864.17 4.250% 03/10/2026 03/10/2029 4.27% 1,045 $337,635.30 $339,857.20 A A2 0.13% Corporate Note TOYOTA MOTOR
CREDIT CORP 89236TPQ2 $530,000.00 $529,818.22 4.050% 03/13/2026 03/13/2029 4.06% 1,048 $526,481.86 $529,809.20 A+ A1 0.20% Corporate Note KLA CORP
(CALLABLE) 482480AG5 $360,000.00 $360,209.66 4.100% 11/14/2025 03/15/2029 4.08% 1,050 $358,147.08 $360,241.20 A- A2 0.14% Corporate Note SALESFORCE INC
(CALLABLE) 79466LAR5 $1,095,000.00 $1,094,770.02 4.650% 03/13/2026 03/15/2029 4.66% 1,050 $1,097,133.06 $1,094,759.10 A+ A2 0.42% Corporate Note UBS AG STAMFORD
CT (CALLABLE) 90261AAG7 $250,000.00 $250,000.00 4.302% 03/16/2026 03/16/2029 4.30% 1,051 $249,748.50 $250,000.00 A+ Aa2 0.09% Corporate Note HOME DEPOT INC
(CALLABLE) 437076CW0 $250,000.00 $256,366.09 4.900% 12/04/2025 04/15/2029 3.97% 1,081 $254,696.00 $257,212.50 A A2 0.10% Corporate Note BANK OF AMERICA
CORP (CALLABLE) 06051GMT3 $525,000.00 $525,000.00 4.623% 05/09/2025 05/09/2029 4.62% 1,105 $526,307.78 $525,000.00 A- A1 0.20% Corporate Note AMERICAN
EXPRESS CO 025816EJ4 $360,000.00 $361,702.55 4.351% 02/04/2026 07/20/2029 4.19% 1,177 $359,313.12 $361,879.20 A- A2 0.14% Corporate Note BANK OF NY
MELLON CORP 06406RBT3 $855,000.00 $900,298.99 6.317% 03/05/2026 10/25/2029 4.62% 1,274 $893,244.15 $902,974.05 A Aa3 0.34% Corporate Note WELLS FARGO &
COMPANY 95000U4D2 $95,000.00 $95,000.00 4.182% 01/23/2026 01/23/2030 4.18% 1,364 $94,159.73 $95,000.00 BBB+ A1 0.04% Corporate Note MORGAN STANLEY
(CALLABLE) 6174468G7 $430,000.00 $431,861.81 4.431% 01/26/2026 01/23/2030 4.30% 1,364 $427,913.21 $431,982.30 A- A1 0.16% Corporate Note ADOBE INC
(CALLABLE) 00724PAD1 $110,000.00 $103,228.34 2.300% 02/25/2026 02/01/2030 4.09% 1,373 $101,480.83 $102,921.50 A+ A1 0.04% Corporate Note ADOBE INC
(CALLABLE) 00724PAD1 $310,000.00 $290,470.32 2.300% 02/10/2026 02/01/2030 4.13% 1,373 $285,991.43 $289,385.00 A+ A1 0.11% Corporate Note ADOBE INC
(CALLABLE) 00724PAD1 $540,000.00 $506,053.88 2.300% 02/06/2026 02/01/2030 4.13% 1,373 $498,178.62 $504,073.80 A+ A1 0.19% Corporate Note MORGAN STANLEY
PVT BANK 61776NU43 $265,000.00 $264,943.31 4.213% 02/02/2026 02/08/2030 4.22% 1,380 $262,092.69 $264,939.05 A+ Aa3 0.10% Corporate Note MORGAN STANLEY
PVT BANK 61776NU43 $385,000.00 $385,000.00 4.213% 02/02/2026 02/08/2030 4.21% 1,380 $380,776.17 $385,000.00 A+ Aa3 0.15% Corporate Note MARS INC
(CALLABLE) 571676AY1 $140,000.00 $140,132.66 4.800% 03/12/2025 03/01/2030 4.77% 1,401 $141,418.06 $140,168.00 A A2 0.05% Corporate Note MARS INC
(CALLABLE) 571676AY1 $145,000.00 $144,876.05 4.800% 03/12/2025 03/01/2030 4.83% 1,401 $146,468.71 $144,843.40 A A2 0.05% Corporate Note BLACKROCK INC
(CALLABLE) 09247XAQ4 $200,000.00 $186,158.41 2.400% 06/30/2025 04/30/2030 4.30% 1,461 $186,032.40 $183,552.00 AA- Aa3 0.07% Corporate Note BLACKROCK INC
(CALLABLE) 09247XAQ4 $385,000.00 $358,448.95 2.400% 06/27/2025 04/30/2030 4.30% 1,461 $358,112.37 $353,399.20 AA- Aa3 0.13% Corporate Note AMERICAN
EXPRESS CO 025816ET2 $225,000.00 $225,000.00 4.444% 05/04/2026 05/03/2030 4.44% 1,464 $224,568.68 $225,000.00 A- A2 0.09% Corporate Note NATIONAL SECS
CLEARING 637639AQ8 $490,000.00 $490,732.80 4.700% 05/20/2025 05/20/2030 4.66% 1,481 $496,877.64 $490,886.90 AA+ Aa1 0.19% Corporate Note NATIONAL SECS
CLEARING 637639AQ8 $555,000.00 $554,716.41 4.700% 05/20/2025 05/20/2030 4.71% 1,481 $562,789.98 $554,655.90 AA+ Aa1 0.21%

04.2026 Portfolio Inventory page 4 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 181
Portfolio Inventory for April 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody's
Rating
% of Plan
Assets
Corporate Note CITIBANK NA
(CALLABLE) 17325FBP2 $285,000.00 $285,000.00 4.914% 05/29/2025 05/29/2030 4.91% 1,490 $289,725.02 $285,000.00 A+ Aa3 0.11% Corporate Note ANALOG DEVICES
INC (CALLABLE) 032654BE4 $525,000.00 $524,613.10 4.500% 06/16/2025 06/15/2030 4.52% 1,507 $526,448.47 $524,538.00 A A2 0.20% Corporate Note NOVARTIS CAPITAL
CORP (CALLABLE) 66989HAY4 $640,000.00 $638,253.09 4.100% 11/05/2025 11/05/2030 4.17% 1,650 $631,619.84 $638,080.00 AA- Aa3 0.24% Corporate Note SHELL FINANCE US
INC (CALLABLE) 822905AN5 $365,000.00 $364,018.61 4.125% 11/06/2025 11/06/2030 4.19% 1,651 $360,798.49 $363,923.25 A+ Aa2 0.14% Corporate Note META PLATFORMS
INC (CALLABLE) 30303MAB8 $360,000.00 $361,117.88 4.200% 11/17/2025 11/15/2030 4.12% 1,660 $355,792.32 $361,220.40 AA- Aa3 0.14% Corporate Note TOTALENERGI CAP
USA LLC 89158TAA7 $335,000.00 $335,000.00 4.248% 01/13/2026 01/13/2031 4.25% 1,719 $331,536.77 $335,000.00 A+ Aa3 0.13% Corporate Note TOTALENERGI CAP
USA LLC 89158TAA7 $455,000.00 $456,332.24 4.248% 01/13/2026 01/13/2031 4.18% 1,719 $450,296.21 $456,410.50 A+ Aa3 0.17% Corporate Note ALPHABET INC
(CALLABLE) 02079KBK2 $550,000.00 $549,751.33 4.100% 02/17/2026 02/15/2031 4.11% 1,752 $543,546.30 $549,741.50 AA+ Aa2 0.21% Corporate Note AMAZON.COM INC
(CALLABLE) 023135DD5 $325,000.00 $324,519.30 4.250% 03/13/2026 03/13/2031 4.28% 1,778 $321,819.23 $324,506.00 AA A1 0.12% Corporate Note AMAZON.COM INC
(CALLABLE) 023135DD5 $410,000.00 $409,361.50 4.250% 03/13/2026 03/13/2031 4.29% 1,778 $405,987.33 $409,344.00 AA A1 0.16% Corporate Note BMW US CAPITAL
LLC (CALLABLE) 05565EDH5 $350,000.00 $349,699.04 4.650% 03/19/2026 03/19/2031 4.67% 1,784 $348,013.05 $349,692.00 A A2 0.13% Commercial Paper CHARLES SCHWAB
CORP 8085A3E50 $735,000.00 $734,670.88 0.000% 11/07/2025 05/05/2026 4.03% 5 $734,622.95 $720,272.03 A-2 P-1 0.27% Commercial Paper BARCLAYS CAPITAL
INC 06743VF54 $750,000.00 $747,112.50 0.000% 09/30/2025 06/05/2026 3.96% 36 $747,201.00 $729,540.00 A-1 NR 0.28% Commercial Paper CITIGROUP GLOBAL
MARKETS 17291YKP1 $1,500,000.00 $1,471,708.34 0.000% 04/27/2026 10/23/2026 3.88% 176 $1,471,756.50 $1,471,061.67 A-1 P-1 0.56% Certificate of Deposit CREDIT INDUST ET
COMM NY 22536WM94 $765,000.00 $765,000.00 3.950% 10/09/2025 10/08/2026 3.95% 161 $764,903.61 $765,000.00 A-1 P-1 0.29% Certificate of Deposit ROYAL BANK OF
CANADA NY 78015J2H9 $1,100,000.00 $1,100,000.00 4.000% 03/12/2026 03/12/2027 4.00% 316 $1,099,524.80 $1,100,000.00 A-1+ P-1 0.42% Certificate of Deposit TORONTO
DOMINION BANK NY 89115M3E4 $1,100,000.00 $1,100,000.00 4.000% 03/12/2026 03/12/2027 4.00% 316 $1,099,298.20 $1,100,000.00 A-1 P-1 0.42% Certificate of Deposit BANK OF NOVA
SCOTIA HOUS 06418NPG1 $1,100,000.00 $1,100,000.00 4.030% 03/19/2026 03/18/2027 4.03% 322 $1,100,017.60 $1,100,000.00 A-1 P-1 0.42% Bank Note TRUIST BANK
(CALLABLE) 89788JAH2 $725,000.00 $722,666.83 4.136% 01/23/2026 10/23/2029 4.23% 1,272 $718,708.45 $722,498.75 A A3 0.27% Total $264,447,134.45 $263,979,459.81 $263,974,674.18 $263,406,673.21

04.2026 Portfolio Inventory page 5 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 182
Managed Portfolio Transaction Register for April 2026
Transactio
n Type Trade Date Settlement Date Security Description Dated Date Coupon / Rate Final
Maturity CUSIP Par / Principal Principal Proceeds
Accrued
Interest
Total Cost /
Proceeds
Realized
G/L — Cost
Realized G/L —
Amortized Cost
Sale
Method
BUY 04/06/2026 04/07/2026 US TREASURY N/B 04/01/2024 4.125% 03/31/2031 91282CKF7 $540,000.00 ($543,016.41) ($426.02) ($543,442.43) BUY 04/13/2026 04/14/2026 US TREASURY N/B 04/01/2024 4.125% 03/31/2031 91282CKF7 $360,000.00 ($362,671.88) ($568.03) ($363,239.91) BUY 04/16/2026 04/30/2026 HAWAII ST-TXBL-GP
(CALLABLE) 04/30/2026 4.212% 04/01/2031 419792S23 $190,000.00 ($190,000.00) $0.00 ($190,000.00) BUY 04/22/2026 04/23/2026 US TREASURY N/B 04/01/2024 4.125% 03/31/2031 91282CKF7 $215,000.00 ($216,881.25) ($557.33) ($217,438.58) BUY 04/27/2026 04/27/2026 CITIGROUP GLOBAL
MARKETS 04/27/2026 0.000% 10/23/2026 17291YKP1 $1,500,000.00 ($1,471,061.67) $0.00 ($1,471,061.67) BUY 04/27/2026 05/04/2026 AMERICAN EXPRESS
CO (CALLABLE) 05/04/2026 4.444% 05/03/2030 025816ET2 $225,000.00 ($225,000.00) $0.00 ($225,000.00) INTEREST 04/01/2026 04/01/2026 MONEY MARKET FUND 01/01/2010 0.000% MONEY0002 $0.00 $0.00 $2,585.89 $2,585.89 INTEREST 04/01/2026 04/25/2026 FHMS K524 A2 07/01/2024 4.720% 05/01/2029 3137HDV56 $0.00 $0.00 $2,104.33 $2,104.33 INTEREST 04/01/2026 04/25/2026 FHMS K515 A2 02/01/2024 5.400% 01/01/2029 3137HBPD0 $0.00 $0.00 $2,925.00 $2,925.00 INTEREST 04/01/2026 04/25/2026 FHMS K526 A2 08/01/2024 4.543% 07/01/2029 3137HDXL9 $0.00 $0.00 $2,252.57 $2,252.57 INTEREST 04/01/2026 04/25/2026 FHMS KJ47 A1 09/01/2023 5.272% 08/01/2028 3137HAMN3 $0.00 $0.00 $1,599.68 $1,599.68 INTEREST 04/01/2026 04/25/2026 FNA 2023-M6 A2 07/01/2023 4.190% 07/01/2028 3136BQDE6 $0.00 $0.00 $2,320.10 $2,320.10 INTEREST 04/01/2026 04/25/2026 FHMS K529 A2 10/01/2024 4.791% 09/01/2029 3137HH6C0 $0.00 $0.00 $1,616.96 $1,616.96 INTEREST 04/01/2026 04/25/2026 FHMS K520 A2 04/01/2024 5.180% 03/01/2029 3137HCKV3 $0.00 $0.00 $1,597.17 $1,597.17 INTEREST 04/01/2026 04/25/2026 FHMS K505 A2 07/01/2023 4.819% 06/01/2028 3137HACX2 $0.00 $0.00 $2,650.45 $2,650.45 INTEREST 04/01/2026 04/25/2026 FHMS K511 A2 12/01/2023 4.860% 10/01/2028 3137HB3G7 $0.00 $0.00 $2,632.50 $2,632.50 INTEREST 04/01/2026 04/25/2026 FNA 2018-M2 A2 02/01/2018 3.026% 01/01/2028 3136B0YM2 $0.00 $0.00 $1,579.90 $1,579.90 INTEREST 04/01/2026 04/25/2026 FHMS KJ46 A1 07/01/2023 4.777% 06/01/2028 3137HAD45 $0.00 $0.00 $2,596.10 $2,596.10 INTEREST 04/01/2026 04/25/2026 FHMS K513 A2 01/01/2024 4.724% 12/01/2028 3137HBFY5 $0.00 $0.00 $2,598.20 $2,598.20 INTEREST 04/01/2026 04/25/2026 FHMS K084 A2 11/01/2018 3.780% 10/01/2028 3137FJZ93 $0.00 $0.00 $2,205.00 $2,205.00 INTEREST 04/01/2026 04/25/2026 FHMS K528 A2 09/01/2024 4.508% 07/01/2029 3137HFNZ4 $0.00 $0.00 $2,554.53 $2,554.53 INTEREST 04/01/2026 04/25/2026 FHMS K083 A1 11/01/2018 3.944% 07/01/2028 3137FJJV2 $0.00 $0.00 $917.56 $917.56 INTEREST 04/01/2026 04/25/2026 FHMS K508 A2 10/01/2023 4.740% 08/01/2028 3137HAQ74 $0.00 $0.00 $2,488.50 $2,488.50 INTEREST 04/01/2026 04/25/2026 FHMS K070 A2 12/01/2017 3.303% 11/01/2027 3137FCJK1 $0.00 $0.00 $963.38 $963.38 INTEREST 04/01/2026 04/25/2026 FHMS K507 A2 09/01/2023 4.800% 09/01/2028 3137HAMS2 $0.00 $0.00 $2,600.00 $2,600.00 INTEREST 04/01/2026 04/25/2026 FHMS K514 A2 02/01/2024 4.572% 12/01/2028 3137HBLV4 $0.00 $0.00 $2,095.50 $2,095.50 INTEREST 04/01/2026 04/25/2026 FHMS K509 A2 10/01/2023 4.850% 09/01/2028 3137HAST4 $0.00 $0.00 $2,627.08 $2,627.08 INTEREST 04/15/2026 04/15/2026 US TREASURY N/B 10/15/2025 3.500% 10/15/2028 91282CPC9 $0.00 $0.00 $9,450.00 $9,450.00

04.2026 Transaction Register page 1 of 3
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 183
Managed Portfolio Transaction Register for April 2026
Transactio
n Type Trade Date Settlement Date Security Description Dated Date Coupon / Rate Final
Maturity CUSIP Par / Principal Principal Proceeds
Accrued
Interest
Total Cost /
Proceeds
Realized
G/L — Cost
Realized G/L —
Amortized Cost
Sale
Method
INTEREST 04/15/2026 04/15/2026 US TREASURY N/B 04/15/2025 3.750% 04/15/2028 91282CMW8 $0.00 $0.00 $23,437.50 $23,437.50 INTEREST 04/15/2026 04/15/2026 HOME DEPOT INC
(CALLABLE) 12/04/2023 4.900% 04/15/2029 437076CW0 $0.00 $0.00 $6,125.00 $6,125.00 INTEREST 04/22/2026 04/22/2026 WELLS FARGO &
COMPANY (CALLABLE) 04/22/2024 5.707% 04/22/2028 95000U3L5 $0.00 $0.00 $9,131.20 $9,131.20 INTEREST 04/23/2026 04/23/2026 TRUIST BANK
(CALLABLE) 10/23/2025 4.136% 10/23/2029 89788JAH2 $0.00 $0.00 $14,993.00 $14,993.00 INTEREST 04/25/2026 04/25/2026 FHMS K536 AS
FLOATING 02/27/2025 4.152% 11/25/2029 3137HJZZ3 $0.00 $0.00 $2,311.88 $2,311.88 INTEREST 04/25/2026 04/25/2026 AMERICAN EXPRESS
CO (CALLABLE) 04/25/2025 4.731% 04/25/2029 025816ED7 $0.00 $0.00 $6,978.23 $6,978.23 INTEREST 04/25/2026 04/25/2026 BANK OF NY MELLON
CORP (CALLABLE) 10/25/2023 6.317% 10/25/2029 06406RBT3 $0.00 $0.00 $27,005.18 $27,005.18 INTEREST 04/25/2026 04/25/2026 FHMS K534 AS
FLOATING 01/30/2025 4.135% 09/25/2029 3137HJ5Z6 $0.00 $0.00 $1,250.14 $1,250.14 INTEREST 04/25/2026 04/25/2026 FHMS K521 AS
FLOATING 05/16/2024 4.166% 03/25/2029 3137HCTM4 $0.00 $0.00 $2,336.03 $2,336.03 INTEREST 04/25/2026 04/25/2026 FHMS K523 AS
FLOATING 06/27/2024 4.202% 05/25/2029 3137HDJW1 $0.00 $0.00 $2,357.46 $2,357.46 INTEREST 04/25/2026 04/25/2026 FHMS K537 AS
FLOATING 03/20/2025 4.169% 01/25/2030 3137HKPG3 $0.00 $0.00 $1,785.18 $1,785.18 INTEREST 04/25/2026 04/25/2026 FHMS K519 AS
FLOATING 04/18/2024 4.121% 03/25/2029 3137HCKQ4 $0.00 $0.00 $2,346.12 $2,346.12 INTEREST 04/25/2026 04/25/2026 FHMS K531 AS
FLOATING 12/12/2024 4.199% 09/25/2029 3137HHUP4 $0.00 $0.00 $1,642.93 $1,642.93 INTEREST 04/25/2026 04/25/2026 FHMS K535 AS
FLOATING 02/13/2025 4.146% 10/25/2029 3137HJSF5 $0.00 $0.00 $2,501.44 $2,501.44 INTEREST 04/25/2026 04/25/2026 FHMS K533 AS
FLOATING 01/16/2025 4.170% 11/25/2029 3137HHW31 $0.00 $0.00 $1,477.87 $1,477.87 INTEREST 04/30/2026 04/30/2026 US TREASURY N/B 05/02/2022 2.875% 04/30/2029 91282CEM9 $0.00 $0.00 $10,493.75 $10,493.75 INTEREST 04/30/2026 04/30/2026 US TREASURY N/B 10/31/2022 4.125% 10/31/2027 91282CFU0 $0.00 $0.00 $6,187.50 $6,187.50 INTEREST 04/30/2026 04/30/2026 US TREASURY N/B 10/31/2024 4.125% 10/31/2029 91282CLR0 $0.00 $0.00 $4,743.75 $4,743.75 INTEREST 04/30/2026 04/30/2026 BLACKROCK INC
(CALLABLE) 01/27/2020 2.400% 04/30/2030 09247XAQ4 $0.00 $0.00 $7,020.00 $7,020.00 PAYDOWN 04/01/2026 04/25/2026 FHMS KJ46 A1 07/01/2023 4.777% 06/01/2028 3137HAD45 $773.85 $773.85 $0.00 $773.85 $6.35 $3.36 PAYDOWN 04/01/2026 04/25/2026 FHMS K083 A1 11/01/2018 3.944% 07/01/2028 3137FJJV2 $9,166.90 $9,166.90 $0.00 $9,166.90 $268.56 $156.76 PAYDOWN 04/01/2026 04/25/2026 FNA 2018-M2 A2 02/01/2018 3.026% 01/01/2028 3136B0YM2 $810.64 $810.64 $0.00 $810.64 $22.99 $15.27 PAYDOWN 04/01/2026 04/25/2026 FHMS KJ47 A1 09/01/2023 5.272% 08/01/2028 3137HAMN3 $1,681.61 $1,681.61 $0.00 $1,681.61 ($11.56) ($6.66) PAYDOWN 04/01/2026 04/25/2026 FNA 2023-M6 A2 07/01/2023 4.190% 07/01/2028 3136BQDE6 $49.27 $49.27 $0.00 $49.27 $0.30 $0.19 PAYDOWN 04/25/2026 04/25/2026 FHMS K534 AS
FLOATING 01/30/2025 4.135% 09/25/2029 3137HJ5Z6 $62.83 $62.83 $0.00 $62.83 $0.00 $0.00 PAYDOWN 04/25/2026 04/25/2026 FHMS K519 AS
FLOATING 04/18/2024 4.121% 03/25/2029 3137HCKQ4 $264.08 $264.08 $0.00 $264.08 $0.00 $0.03 PAYDOWN 04/25/2026 04/25/2026 FHMS K535 AS
FLOATING 02/13/2025 4.146% 10/25/2029 3137HJSF5 $357.26 $357.26 $0.00 $357.26 $0.00 $0.00 PAYDOWN 04/25/2026 04/25/2026 FHMS K523 AS
FLOATING 06/27/2024 4.202% 05/25/2029 3137HDJW1 $154.25 $154.25 $0.00 $154.25 $0.00 $0.00

04.2026 Transaction Register page 2 of 3
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 184
Managed Portfolio Transaction Register for April 2026
Transactio
n Type Trade Date Settlement Date Security Description Dated Date Coupon / Rate Final
Maturity CUSIP Par / Principal Principal Proceeds
Accrued
Interest
Total Cost /
Proceeds
Realized
G/L — Cost
Realized G/L —
Amortized Cost
Sale
Method
PAYDOWN 04/25/2026 04/25/2026 FHMS K533 AS
FLOATING 01/16/2025 4.170% 11/25/2029 3137HHW31 $62.30 $62.30 $0.00 $62.30 $0.00 $0.01 PAYDOWN 04/25/2026 04/25/2026 FHMS K536 AS
FLOATING 02/27/2025 4.152% 11/25/2029 3137HJZZ3 $262.01 $262.01 $0.00 $262.01 $0.00 ($0.05) PAYDOWN 04/25/2026 04/25/2026 FHMS K537 AS
FLOATING 03/20/2025 4.169% 01/25/2030 3137HKPG3 $36.63 $36.63 $0.00 $36.63 $0.00 $0.00 PAYDOWN 04/25/2026 04/25/2026 FHMS K531 AS
FLOATING 12/12/2024 4.199% 09/25/2029 3137HHUP4 $51.67 $51.67 $0.00 $51.67 $0.00 $0.01 PAYDOWN 04/25/2026 04/25/2026 FHMS K521 AS
FLOATING 05/16/2024 4.166% 03/25/2029 3137HCTM4 $317.08 $317.08 $0.00 $317.08 $0.00 $0.03 SELL 04/06/2026 04/07/2026 ALPHABET INC
(CALLABLE) 02/13/2026 4.100% 02/15/2031 02079KBK2 $190,000.00 $188,744.10 $1,168.50 $189,912.60 ($1,166.60) ($1,168.91) FIFO SELL 04/06/2026 04/07/2026 ALPHABET INC
(CALLABLE) 02/13/2026 4.100% 02/15/2031 02079KBK2 $360,000.00 $357,620.40 $2,214.00 $359,834.40 ($2,037.60) ($2,046.90) FIFO SELL 04/13/2026 04/14/2026 SHELL FINANCE US INC
(CALLABLE) 11/06/2025 4.125% 11/06/2030 822905AN5 $125,000.00 $124,202.50 $2,263.02 $126,465.52 ($428.75) ($458.24) FIFO SELL 04/13/2026 04/14/2026 SHELL FINANCE US INC
(CALLABLE) 11/06/2025 4.125% 11/06/2030 822905AN5 $235,000.00 $233,500.70 $4,254.48 $237,755.18 ($596.90) ($669.58) FIFO SELL 04/22/2026 04/23/2026 INTUIT INC (CALLABLE) 06/29/2020 1.650% 07/15/2030 46124HAD8 $240,000.00 $215,119.20 $1,078.00 $216,197.20 ($360.00) ($1,267.91) FIFO SELL 04/27/2026 04/27/2026 US TREASURY N/B 07/17/2023 4.500% 07/15/2026 91282CHM6 $1,000,000.00 $1,001,757.81 $12,679.56 $1,014,437.37 $10,820.31 $2,471.61 FIFO SELL 04/27/2026 04/27/2026 US TREASURY N/B 08/15/2023 4.375% 08/15/2026 91282CHU8 $400,000.00 $400,750.00 $3,432.32 $404,182.32 $5,093.75 $1,210.32 FIFO SELL 04/27/2026 04/28/2026 AMERICAN EXPRESS
CO (CALLABLE) 04/25/2025 4.731% 04/25/2029 025816ED7 $295,000.00 $297,250.85 $116.30 $297,367.15 $2,250.85 $2,250.85 FIFO Total $5,889,050.38 ($175,635.27) $214,739.36 $39,104.09 $13,861.70 $490.19

04.2026 Transaction Register page 3 of 3
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 185
Liquid Portfolio Transaction Register for April 2026
Transactio
n Type Trade Date Settlement Date Security Description Par / Principal Accrued Interest BUY 04/30/2026 04/24/2026 CAMP $500,000.00 $0.00
INTEREST 04/30/2026 05/01/2026 CAMP $0.00 $17,569.00
INTEREST 04/30/2026 05/01/2026 CAMP $0.00 $311,986.43
SELL 04/13/2026 04/13/2026 CAMP ($2,500,000.00) $0.00
SELL 04/16/2026 04/16/2026 CAMP ($3,500,000.00) $0.00
INTEREST 04/14/2026 04/15/2026 LAIF $0.00 $596,731.26
SELL 04/21/2026 04/22/2026 LAIF ($118,000.00) $0.00
INTEREST 04/24/2026 04/27/2026 RIV CO (TPIF) $0.00 $1,819.17 Total ($5,618,000.00) $928,105.86

04.2026 Liquid Transactions page 1 of 1
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 186
Portfolio Inventory for May 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody’s
Rating
% of Plan
Assets
State of California Local
Agency Investment Fund LAIF n/a $74,999,403.49 $74,999,403.49 n/a n/a n/a n/a n/a $74,999,403.49 $74,999,403.49 n/a n/a n/a Riverside County
Treasurer’s Pooled Riv Co (TPIF) n/a $3,015,167.74 $3,015,167.74 n/a n/a n/a n/a n/a $3,015,167.74 $3,015,167.74 n/a n/a n/a Local Government
Investment Pools CAMP n/a $104,282,340.89 $104,282,340.89 n/a n/a n/a n/a n/a $104,282,340.89 $104,282,340.89 n/a n/a n/a Money Market Fund Allspring 94975P405 $11,049,603.79 $11,049,603.79 3.513% n/a n/a n/a n/a $11,049,603.79 $11,049,603.79 n/a n/a n/a Money Market Fund First American US
Treasury Mm Cl Z
31846V450
#3697 $106,132.32 $106,132.32 3.500% n/a n/a n/a n/a $106,132.32 $106,132.32 n/a n/a n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHU8 $325,000.00 $324,744.99 4.375% 10/12/2023 08/15/2026 4.790% 76 $325,380.90 $321,470.70 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CLH2 $510,000.00 $509,933.79 3.750% 09/05/2024 08/31/2026 3.800% 92 $509,994.90 $509,482.03 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CLH2 $890,000.00 $889,148.33 3.750% 10/29/2024 08/31/2026 4.140% 92 $889,991.10 $883,846.48 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CJK8 $1,250,000.00 $1,251,676.87 4.625% 12/08/2023 11/15/2026 4.320% 168 $1,254,628.75 $1,260,302.73 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CJP7 $510,000.00 $510,471.61 4.375% 11/12/2024 12/15/2026 4.200% 198 $511,638.63 $511,773.05 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 912828V98 $260,000.00 $256,914.94 2.250% 10/10/2024 02/15/2027 3.970% 260 $257,139.22 $250,067.19 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKZ3 $325,000.00 $325,205.82 4.375% 01/17/2025 07/15/2027 4.320% 410 $326,599.65 $325,444.34 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAH4 $1,100,000.00 $1,055,195.03 0.500% 01/31/2024 08/31/2027 4.040% 457 $1,054,237.80 $971,480.47 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFH9 $1,400,000.00 $1,375,577.75 3.125% 07/02/2024 08/31/2027 4.580% 457 $1,386,163.80 $1,340,609.38 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAL5 $1,000,000.00 $950,122.13 0.375% 11/24/2023 09/30/2027 4.500% 487 $954,102.00 $855,703.13 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFU0 $300,000.00 $297,721.87 4.125% 10/16/2023 10/31/2027 4.720% 518 $300,632.70 $293,496.09 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 9128283F5 $250,000.00 $243,438.05 2.250% 12/05/2024 11/15/2027 4.130% 533 $243,945.25 $237,099.61 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAY7 $225,000.00 $213,225.11 0.625% 11/24/2023 11/30/2027 4.480% 548 $214,101.68 $193,420.90 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAY7 $2,000,000.00 $1,902,447.43 0.625% 08/02/2024 11/30/2027 4.010% 548 $1,903,126.00 $1,790,859.38 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CBB6 $1,400,000.00 $1,330,084.91 0.625% 01/26/2024 12/31/2027 4.070% 579 $1,328,413.80 $1,226,421.88 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 9128283W8 $2,350,000.00 $2,311,458.28 2.750% 09/03/2024 02/15/2028 3.750% 625 $2,301,806.20 $2,274,542.97 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CQB0 $1,000,000.00 $993,980.55 3.375% 03/16/2026 02/29/2028 3.730% 639 $989,688.00 $993,281.25 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CMW8 $1,250,000.00 $1,244,029.63 3.750% 03/31/2026 04/15/2028 4.020% 685 $1,244,287.50 $1,243,505.86 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CCE9 $265,000.00 $253,348.81 1.250% 01/14/2026 05/31/2028 3.550% 731 $251,077.17 $251,232.42 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHX2 $600,000.00 $602,321.41 4.375% 11/05/2024 08/31/2028 4.190% 823 $604,383.00 $603,820.31 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CCY5 $545,000.00 $509,938.41 1.250% 12/05/2024 09/30/2028 4.180% 853 $511,533.73 $489,243.95 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CPC9 $540,000.00 $539,543.36 3.500% 12/03/2025 10/15/2028 3.540% 868 $533,461.14 $539,451.56 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CPK1 $345,000.00 $343,780.80 3.500% 01/22/2026 11/15/2028 3.650% 899 $340,660.59 $343,611.91 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CPP0 $155,000.00 $154,434.93 3.500% 01/20/2026 12/15/2028 3.650% 929 $152,995.85 $154,358.20 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CQA2 $300,000.00 $295,278.60 3.500% 05/19/2026 02/15/2029 4.120% 991 $295,804.80 $295,218.75 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CQA2 $1,200,000.00 $1,201,857.70 3.500% 03/05/2026 02/15/2029 3.440% 991 $1,183,219.20 $1,202,015.63 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CEM9 $180,000.00 $176,585.65 2.875% 09/24/2024 04/30/2029 3.570% 1065 $174,206.34 $174,761.72 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CEM9 $550,000.00 $534,339.24 2.875% 10/11/2024 04/30/2029 3.920% 1065 $532,297.15 $526,259.77 AA+ Aa1 n/a

05.2026 Portfolio Inventory page 1 of 5
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Portfolio Inventory for May 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody’s
Rating
% of Plan
Assets
U.S. Treasury Bond / Note US TREASURY N/B 91282CKT7 $80,000.00 $81,238.17 4.500% 06/05/2025 05/31/2029 3.950% 1096 $80,978.16 $81,615.63 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKT7 $250,000.00 $252,779.52 4.500% 12/12/2024 05/31/2029 4.100% 1096 $253,056.75 $254,023.44 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKX8 $250,000.00 $252,535.53 4.250% 07/21/2025 06/30/2029 3.900% 1126 $251,328.25 $253,193.36 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFL0 $570,000.00 $568,303.78 3.875% 06/05/2025 09/30/2029 3.970% 1218 $566,415.27 $567,840.23 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CLR0 $230,000.00 $232,716.59 4.125% 01/21/2026 10/31/2029 3.750% 1249 $230,278.53 $232,982.81 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFY2 $550,000.00 $551,922.23 3.875% 01/21/2026 11/30/2029 3.770% 1279 $546,218.75 $552,105.47 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGQ8 $400,000.00 $404,504.10 4.000% 10/09/2025 02/28/2030 3.670% 1369 $398,656.40 $405,218.75 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $285,000.00 $284,673.81 3.625% 01/15/2026 03/31/2030 3.660% 1400 $280,223.97 $284,643.75 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $290,000.00 $289,294.58 3.625% 01/14/2026 03/31/2030 3.690% 1400 $285,140.18 $289,229.69 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $550,000.00 $548,543.54 3.625% 01/14/2026 03/31/2030 3.700% 1400 $540,783.10 $548,410.16 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $680,000.00 $668,364.57 3.625% 05/13/2025 03/31/2030 4.110% 1400 $668,604.56 $665,470.31 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CNG2 $250,000.00 $253,020.07 4.000% 01/15/2026 05/31/2030 3.670% 1461 $249,023.50 $253,281.25 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHJ3 $490,000.00 $485,647.37 3.750% 08/05/2025 06/30/2030 3.990% 1491 $483,319.83 $484,851.17 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHW4 $1,250,000.00 $1,271,618.58 4.125% 10/06/2025 08/31/2030 3.680% 1553 $1,249,853.75 $1,274,658.20 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHZ7 $1,100,000.00 $1,139,373.75 4.625% 11/06/2025 09/30/2030 3.720% 1583 $1,121,569.90 $1,144,085.94 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CJX0 $650,000.00 $656,323.84 4.000% 02/10/2026 01/31/2031 3.770% 1706 $646,166.30 $656,703.13 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKC4 $250,000.00 $252,728.14 4.250% 03/26/2026 02/28/2031 3.990% 1734 $251,172.00 $252,822.27 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKF7 $215,000.00 $216,844.92 4.125% 04/23/2026 03/31/2031 3.930% 1765 $214,806.93 $216,881.25 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKF7 $360,000.00 $362,608.39 4.125% 04/14/2026 03/31/2031 3.960% 1765 $359,676.72 $362,671.88 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKF7 $540,000.00 $542,935.46 4.125% 04/07/2026 03/31/2031 4.000% 1765 $539,515.08 $543,016.41 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKF7 $860,000.00 $864,145.75 4.125% 05/06/2026 03/31/2031 4.010% 1765 $859,227.72 $864,199.22 AA+ Aa1 n/a Municipal Bond / Note HAWAII ST-TXBL-GP
(CALLABLE) 419792S23 $190,000.00 $190,000.00 4.212% 04/30/2026 04/01/2031 4.210% 1766 $189,347.54 $190,000.00 AA+ Aa2 n/a Federal Agency
Commercial Mortgage- FHMS K070 A2 3137FCJK1 $350,000.00 $341,951.28 3.303% 07/05/2024 11/01/2027 4.900% 519 $345,676.45 $332,541.02 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FNA 2018-M2 A2 3136B0YM2 $624,917.90 $614,177.76 2.928% 04/08/2025 01/01/2028 4.070% 580 $612,272.69 $607,195.62 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS KJ46 A1 3137HAD45 $650,442.24 $647,830.58 4.777% 04/05/2024 06/01/2028 4.990% 732 $652,857.34 $645,106.59 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K505 A2 3137HACX2 $660,000.00 $659,787.57 4.819% 03/20/2024 06/01/2028 4.840% 732 $664,897.86 $659,561.72 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K083 A1 3137FJJV2 $260,030.11 $255,885.18 3.944% 04/30/2024 07/01/2028 4.720% 762 $259,146.00 $252,412.04 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FNA 2023-M6 A2 3136BQDE6 $664,359.83 $661,985.91 4.172% 10/23/2024 07/01/2028 4.350% 762 $661,673.83 $660,363.30 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS KJ47 A1 3137HAMN3 $360,334.70 $361,669.44 5.272% 04/05/2024 08/01/2028 5.100% 793 $362,643.01 $362,812.00 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K508 A2 3137HAQ74 $630,000.00 $626,541.10 4.740% 06/14/2024 08/01/2028 5.000% 793 $634,507.02 $623,823.05 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K507 A2 3137HAMS2 $650,000.00 $648,861.11 4.800% 05/21/2024 09/01/2028 4.880% 824 $655,130.45 $647,968.75 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K509 A2 3137HAST4 $650,000.00 $649,630.85 4.850% 05/21/2024 09/01/2028 4.880% 824 $655,799.95 $649,339.84 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K511 A2 3137HB3G7 $650,000.00 $652,171.02 4.860% 03/28/2024 10/01/2028 4.710% 854 $656,141.85 $653,859.38 AA+ Aa1 n/a

05.2026 Portfolio Inventory page 2 of 5
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Portfolio Inventory for May 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody’s
Rating
% of Plan
Assets
Federal Agency
Commercial Mortgage- FHMS K084 A2 3137FJZ93 $700,000.00 $682,908.12 3.780% 05/21/2024 10/01/2028 4.850% 854 $691,117.70 $670,031.25 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K514 A2 3137HBLV4 $550,000.00 $547,251.65 4.572% 03/20/2024 12/01/2028 4.780% 915 $552,624.60 $545,166.02 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K513 A2 3137HBFY5 $660,000.00 $659,106.67 4.724% 03/20/2024 12/01/2028 4.780% 915 $664,590.96 $658,427.34 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K515 A2 3137HBPD0 $650,000.00 $654,259.84 5.400% 06/03/2024 01/01/2029 5.140% 946 $664,411.80 $657,083.98 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K520 A2 3137HCKV3 $370,000.00 $370,924.70 5.180% 04/30/2024 03/01/2029 5.090% 1005 $377,756.31 $371,501.83 AA+ Aa1 n/a Federal Agency
Commercial MortgageFHMS K521 AS FLOATING 3137HCTM4 $646,918.69 $646,918.69 4.128% 05/16/2024 03/25/2029 5.850% 1029 $645,315.62 $646,918.69 AA+ Aa1 n/a Federal Agency
Commercial MortgageFHMS K519 AS FLOATING 3137HCKQ4 $656,104.07 $656,104.07 4.105% 04/18/2024 03/25/2029 5.810% 1029 $654,864.69 $656,104.07 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K524 A2 3137HDV56 $535,000.00 $537,151.24 4.720% 07/25/2024 05/01/2029 4.580% 1066 $539,421.78 $538,285.43 AA+ Aa1 n/a Federal Agency
Commercial MortgageFHMS K523 AS FLOATING 3137HDJW1 $648,509.16 $648,509.16 4.199% 06/27/2024 05/25/2029 5.870% 1090 $648,164.15 $648,509.16 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K526 A2 3137HDXL9 $595,000.00 $598,689.32 4.543% 08/15/2024 07/01/2029 4.330% 1127 $597,336.57 $600,565.63 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K528 A2 3137HFNZ4 $680,000.00 $680,705.52 4.508% 10/25/2024 07/01/2029 4.470% 1127 $681,999.20 $681,009.38 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K529 A2 3137HH6C0 $405,000.00 $410,631.27 4.791% 10/16/2024 09/01/2029 4.340% 1189 $409,486.59 $413,094.74 AA+ Aa1 n/a Federal Agency
Commercial MortgageFHMS K534 AS FLOATING 3137HJ5Z6 $348,942.72 $348,942.72 4.098% 01/30/2025 09/25/2029 4.820% 1213 $348,022.21 $348,942.72 AA+ Aa1 n/a Federal Agency
Commercial MortgageFHMS K531 AS FLOATING 3137HHUP4 $454,272.22 $454,272.22 4.182% 12/12/2024 09/25/2029 5.180% 1213 $453,479.97 $454,272.22 AA+ Aa1 n/a Federal Agency
Commercial MortgageFHMS K535 AS FLOATING 3137HJSF5 $696,024.03 $696,024.03 4.108% 02/13/2025 10/25/2029 4.840% 1243 $694,776.06 $696,024.03 AA+ Aa1 n/a Federal Agency
Commercial MortgageFHMS K533 AS FLOATING 3137HHW31 $409,575.82 $409,575.82 4.070% 01/16/2025 11/25/2029 4.930% 1274 $409,510.29 $409,575.82 AA+ Aa1 n/a Federal Agency
Commercial MortgageFHMS K536 AS FLOATING 3137HJZZ3 $643,431.60 $643,431.60 4.149% 02/27/2025 11/25/2029 4.820% 1274 $641,742.59 $643,431.60 AA+ Aa1 n/a Federal Agency
Commercial MortgageFHMS K537 AS FLOATING 3137HKPG3 $494,828.26 $494,828.26 4.112% 03/20/2025 01/25/2030 4.860% 1335 $493,712.92 $494,828.26 AA+ Aa1 n/a Corporate Note AMERICAN HONDA
FINANCE 02665WFK2 $185,000.00 $184,908.04 4.900% 07/10/2024 07/09/2027 4.950% 404 $186,157.92 $184,761.35 BBB+ A3 0.07% Corporate Note AMERICAN HONDA
FINANCE 02665WGD7 $325,000.00 $324,989.26 4.550% 07/10/2025 07/09/2027 4.550% 404 $325,581.43 $324,980.50 BBB+ A3 0.12% Corporate Note MERCEDES-BENZ
FIN NA 58769JAC1 $250,000.00 $251,034.82 5.250% 03/15/2024 11/29/2027 4.960% 547 $253,065.25 $252,432.50 A A2 0.09% Corporate Note UBS AG STAMFORD
CT (CALLABLE) 90261AAD4 $250,000.00 $250,000.00 4.864% 01/10/2025 01/10/2028 4.860% 589 $250,765.25 $250,000.00 A+ Aa2 0.09% Corporate Note WELLS FARGO &
COMPANY 95000U3R2 $85,000.00 $85,000.00 4.900% 01/24/2025 01/24/2028 4.900% 603 $85,289.68 $85,000.00 BBB+ A1 0.03% Corporate Note KENVUE INC
(CALLABLE) 49177JAF9 $375,000.00 $380,882.22 5.050% 06/30/2025 03/22/2028 4.120% 661 $379,556.63 $383,853.75 A A2 0.14% Corporate Note WELLS FARGO &
COMPANY 95000U3L5 $320,000.00 $320,000.00 5.707% 04/22/2024 04/22/2028 5.710% 692 $323,647.04 $320,000.00 BBB+ A1 0.12% Corporate Note CITIGROUP INC
(CALLABLE) 172967PZ8 $520,000.00 $520,000.00 4.643% 05/07/2025 05/07/2028 4.640% 707 $521,189.76 $520,000.00 BBB+ A3 0.20% Corporate Note SERVICENOW INC 81762PAF9 $90,000.00 $89,681.30 4.250% 05/15/2026 05/15/2028 4.440% 715 $89,994.96 $89,674.20 A A2 0.03% Corporate Note USAA CAPITAL
CORP (CALLABLE) 90327QDA4 $205,000.00 $204,736.02 4.375% 06/02/2025 06/01/2028 4.440% 732 $204,936.66 $204,612.55 AA- Aa2 0.08% Corporate Note HSBC USA INC 40428HR95 $525,000.00 $525,028.84 4.650% 06/03/2025 06/03/2028 4.650% 734 $528,331.65 $525,042.00 A- A2 0.20% Corporate Note JPMORGAN CHASE
& CO (CALLABLE) 46647PEL6 $310,000.00 $310,000.00 4.979% 07/22/2024 07/22/2028 4.980% 783 $312,112.96 $310,000.00 A A1 0.12% Corporate Note GOLDMAN SACHS
GROUP INC 38145GAP5 $125,000.00 $125,000.00 4.148% 01/21/2026 01/21/2029 4.150% 966 $124,132.63 $125,000.00 BBB+ A2 0.05% Corporate Note GOLDMAN SACHS
GROUP INC 38145GAP5 $425,000.00 $424,832.83 4.148% 03/03/2026 01/21/2029 4.160% 966 $422,050.93 $424,817.25 BBB+ A2 0.16% Corporate Note PNC FINANCIAL
SERVICES 693475CG8 $290,000.00 $290,000.00 4.075% 01/26/2026 01/26/2029 4.080% 971 $288,328.44 $290,000.00 A- A3 0.11%

05.2026 Portfolio Inventory page 3 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 189
Portfolio Inventory for May 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody’s
Rating
% of Plan
Assets
Corporate Note NATIONAL RURAL
UTIL COOP 63743HFN7 $145,000.00 $146,537.03 4.850% 03/31/2026 02/07/2029 4.420% 983 $146,410.71 $146,629.80 A- A2 0.06% Corporate Note ALPHABET INC
(CALLABLE) 02079KBJ5 $105,000.00 $104,655.14 3.700% 02/13/2026 02/15/2029 3.830% 991 $103,638.15 $104,618.85 AA+ Aa2 0.04% Corporate Note CISCO SYSTEMS
INC (CALLABLE) 17275RBR2 $350,000.00 $357,258.03 4.850% 11/10/2025 02/26/2029 4.040% 1002 $355,331.55 $358,690.50 AA- A1 0.13% Corporate Note ABBOTT
LABORATORIES 002824BR0 $585,000.00 $584,311.65 3.700% 03/09/2026 03/09/2029 3.750% 1013 $575,232.25 $584,257.05 A+ Aa3 0.22% Corporate Note MERCEDES-BENZ
FIN NA 58769JBP1 $340,000.00 $339,867.91 4.250% 03/10/2026 03/10/2029 4.270% 1014 $336,980.12 $339,857.20 A A2 0.13% Corporate Note TOYOTA MOTOR
CREDIT CORP 89236TPQ2 $530,000.00 $529,823.23 4.050% 03/13/2026 03/13/2029 4.060% 1017 $525,706.47 $529,809.20 A+ A1 0.20% Corporate Note KLA CORP
(CALLABLE) 482480AG5 $360,000.00 $360,203.89 4.100% 11/14/2025 03/15/2029 4.080% 1019 $357,523.20 $360,241.20 A- A2 0.14% Corporate Note SALESFORCE INC
(CALLABLE) 79466LAR5 $1,095,000.00 $1,094,776.30 4.650% 03/13/2026 03/15/2029 4.660% 1019 $1,097,235.99 $1,094,759.10 A+ A2 0.41% Corporate Note UBS AG STAMFORD
CT (CALLABLE) 90261AAG7 $250,000.00 $250,000.00 4.302% 03/16/2026 03/16/2029 4.300% 1020 $249,541.00 $250,000.00 A+ Aa2 0.09% Corporate Note HOME DEPOT INC
(CALLABLE) 437076CW0 $250,000.00 $256,190.18 4.900% 12/04/2025 04/15/2029 3.970% 1050 $254,046.00 $257,212.50 A A2 0.10% Corporate Note BANK OF AMERICA
CORP (CALLABLE) 06051GMT3 $525,000.00 $525,000.00 4.623% 05/09/2025 05/09/2029 4.620% 1074 $526,244.25 $525,000.00 A- A1 0.20% Corporate Note AMERICAN
EXPRESS CO 025816EJ4 $360,000.00 $361,641.52 4.351% 02/04/2026 07/20/2029 4.190% 1146 $358,889.40 $361,879.20 A- A2 0.14% Corporate Note BANK OF NY
MELLON CORP 06406RBT3 $855,000.00 $898,839.65 6.317% 03/05/2026 10/25/2029 4.620% 1243 $890,293.55 $902,974.05 A Aa3 0.34% Corporate Note WELLS FARGO &
COMPANY 95000U4D2 $95,000.00 $95,000.00 4.182% 01/23/2026 01/23/2030 4.180% 1333 $94,030.15 $95,000.00 BBB+ A1 0.04% Corporate Note MORGAN STANLEY
(CALLABLE) 6174468G7 $430,000.00 $431,823.42 4.431% 01/26/2026 01/23/2030 4.300% 1333 $427,575.66 $431,982.30 A- A1 0.16% Corporate Note ADOBE INC
(CALLABLE) 00724PAD1 $110,000.00 $103,367.74 2.300% 02/25/2026 02/01/2030 4.090% 1342 $101,887.06 $102,921.50 A+ A1 0.04% Corporate Note ADOBE INC
(CALLABLE) 00724PAD1 $310,000.00 $290,872.03 2.300% 02/10/2026 02/01/2030 4.130% 1342 $287,136.26 $289,385.00 A+ A1 0.11% Corporate Note ADOBE INC
(CALLABLE) 00724PAD1 $540,000.00 $506,752.17 2.300% 02/06/2026 02/01/2030 4.130% 1342 $500,172.84 $504,073.80 A+ A1 0.19% Corporate Note MARS INC
(CALLABLE) 571676AY1 $140,000.00 $140,129.96 4.800% 03/12/2025 03/01/2030 4.770% 1370 $141,003.10 $140,168.00 A A2 0.05% Corporate Note MARS INC
(CALLABLE) 571676AY1 $145,000.00 $144,878.52 4.800% 03/12/2025 03/01/2030 4.830% 1370 $146,038.93 $144,843.40 A A2 0.05% Corporate Note BLACKROCK INC
(CALLABLE) 09247XAQ4 $200,000.00 $186,425.92 2.400% 06/30/2025 04/30/2030 4.300% 1430 $185,753.40 $183,552.00 AA- Aa3 0.07% Corporate Note BLACKROCK INC
(CALLABLE) 09247XAQ4 $385,000.00 $358,962.17 2.400% 06/27/2025 04/30/2030 4.300% 1430 $357,575.30 $353,399.20 AA- Aa3 0.13% Corporate Note AMERICAN
EXPRESS CO 025816ET2 $225,000.00 $225,000.00 4.444% 05/04/2026 05/03/2030 4.440% 1433 $224,202.38 $225,000.00 A- A2 0.08% Corporate Note NATIONAL SECS
CLEARING 637639AQ8 $230,000.00 $229,884.67 4.700% 05/20/2025 05/20/2030 4.710% 1450 $232,055.97 $229,857.40 AA Aa1 0.09% Corporate Note NATIONAL SECS
CLEARING 637639AQ8 $490,000.00 $490,718.80 4.700% 05/20/2025 05/20/2030 4.660% 1450 $494,380.11 $490,886.90 AA Aa1 0.18% Corporate Note ANALOG DEVICES
INC (CALLABLE) 032654BE4 $525,000.00 $524,620.18 4.500% 06/16/2025 06/15/2030 4.520% 1476 $524,720.70 $524,538.00 A A2 0.20% Corporate Note NOVARTIS CAPITAL
CORP (CALLABLE) 66989HAY4 $640,000.00 $638,282.69 4.100% 11/05/2025 11/05/2030 4.170% 1619 $629,773.44 $638,080.00 AA- Aa3 0.24% Corporate Note SHELL FINANCE US
INC (CALLABLE) 822905AN5 $365,000.00 $364,035.20 4.125% 11/06/2025 11/06/2030 4.190% 1620 $359,453.83 $363,923.25 A+ Aa2 0.14% Corporate Note META PLATFORMS
INC (CALLABLE) 30303MAB8 $360,000.00 $361,098.79 4.200% 11/17/2025 11/15/2030 4.120% 1629 $355,378.68 $361,220.40 AA- Aa3 0.14% Corporate Note TOTALENERGI CAP
USA LLC 89158TAA7 $335,000.00 $335,000.00 4.248% 01/13/2026 01/13/2031 4.250% 1688 $330,912.33 $335,000.00 A+ Aa3 0.13% Corporate Note TOTALENERGI CAP
USA LLC 89158TAA7 $455,000.00 $456,310.45 4.248% 01/13/2026 01/13/2031 4.180% 1688 $449,448.09 $456,410.50 A+ Aa3 0.17% Corporate Note ALPHABET INC
(CALLABLE) 02079KBK2 $550,000.00 $549,755.25 4.100% 02/17/2026 02/15/2031 4.110% 1721 $542,607.45 $549,741.50 AA+ Aa2 0.21% Corporate Note AMAZON.COM INC
(CALLABLE) 023135DD5 $325,000.00 $324,526.75 4.250% 03/13/2026 03/13/2031 4.280% 1747 $321,360.65 $324,506.00 AA A1 0.12%

05.2026 Portfolio Inventory page 4 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 190
Portfolio Inventory for May 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody’s
Rating
% of Plan
Assets
Corporate Note AMAZON.COM INC
(CALLABLE) 023135DD5 $410,000.00 $409,371.40 4.250% 03/13/2026 03/13/2031 4.290% 1747 $405,408.82 $409,344.00 AA A1 0.15% Corporate Note BMW US CAPITAL
LLC (CALLABLE) 05565EDH5 $350,000.00 $349,703.65 4.650% 03/19/2026 03/19/2031 4.670% 1753 $347,855.90 $349,692.00 A A2 0.13% Corporate Note CATERPILLAR FINL
SERVICE 14913V2D9 $290,000.00 $289,606.25 4.500% 05/15/2026 05/15/2031 4.530% 1810 $289,492.50 $289,602.70 A A1 0.11% Corporate Note ELI LILLY & CO
(CALLABLE) 532457DL9 $330,000.00 $329,649.92 4.375% 05/20/2026 05/20/2031 4.400% 1815 $328,312.71 $329,646.90 AA- Aa3 0.12% Commercial Paper BARCLAYS CAPITAL
INC 06743VF54 $750,000.00 $749,670.00 0.000% 09/30/2025 06/05/2026 3.960% 5 $749,466.75 $729,540.00 A-1 NR 0.27% Commercial Paper CITIGROUP GLOBAL
MARKETS 17291YKP1 $1,500,000.00 $1,476,720.00 0.000% 04/27/2026 10/23/2026 3.880% 145 $1,476,418.50 $1,471,061.67 A-1 P-1 0.55% Certificate of Deposit CREDIT INDUST ET
COMM NY 22536WM94 $765,000.00 $765,000.00 3.950% 10/09/2025 10/08/2026 3.950% 130 $764,915.09 $765,000.00 A-1 P-1 0.29% Certificate of Deposit ROYAL BANK OF
CANADA NY 78015J2H9 $1,100,000.00 $1,100,000.00 4.000% 03/12/2026 03/12/2027 4.000% 285 $1,099,589.70 $1,100,000.00 A-1+ P-1 0.41% Certificate of Deposit TORONTO
DOMINION BANK NY 89115M3E4 $1,100,000.00 $1,100,000.00 4.000% 03/12/2026 03/12/2027 4.000% 285 $1,099,445.60 $1,100,000.00 A-1 P-1 0.41% Certificate of Deposit BANK OF NOVA
SCOTIA HOUS 06418NPG1 $1,100,000.00 $1,100,000.00 4.030% 03/19/2026 03/18/2027 4.030% 291 $1,099,688.70 $1,100,000.00 A-1 P-1 0.41% Bank Note TRUIST BANK
(CALLABLE) 89788JAH2 $725,000.00 $722,719.27 4.136% 01/23/2026 10/23/2029 4.230% 1241 $718,263.30 $722,498.75 A A3 0.27% Bank Note MORGAN STANLEY
PVT BANK 61776NU43 $265,000.00 $264,944.47 4.213% 02/02/2026 02/08/2030 4.220% 1349 $262,085.27 $264,939.05 A+ Aa3 0.10% Bank Note MORGAN STANLEY
PVT BANK 61776NU43 $385,000.00 $385,000.00 4.213% 02/02/2026 02/08/2030 4.210% 1349 $380,765.39 $385,000.00 A+ Aa3 0.14% Bank Note CITIBANK NA
(CALLABLE) 17325FBP2 $285,000.00 $285,000.00 4.914% 05/29/2025 05/29/2030 4.910% 1459 $288,898.80 $285,000.00 A+ Aa3 0.11% Total $267,301,339.58 $266,860,331.15 $266,710,895.92 $266,274,006.66

05.2026 Portfolio Inventory page 5 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 191
Managed Portfolio Transaction Register for May 2026
Transaction
Type Trade Date Settlement Date Security Description CUSIP Dated Date Coupon/Rate Final Maturity
Date Par/Principal Principal Proceeds
Accrued
Interest
Total
Cost/Proceeds
Realized G/L
Cost
Realized G/L
Amortized Cost
Sale
Method
BUY 04/27/2026 05/04/2026 AMERICAN EXPRESS CO
(CALLABLE) 025816ET2 05/04/2026 4.444% 05/03/2030 $225,000.00 ($225,000.00) - ($225,000.00) BUY 05/01/2026 05/06/2026 US TREASURY N/B 91282CKF7 04/01/2024 4.125% 03/31/2031 $860,000.00 ($864,199.22) ($3,489.34) ($867,688.56) BUY 05/06/2026 05/20/2026 ELI LILLY & CO (CALLABLE) 532457DL9 05/20/2026 4.375% 05/20/2031 $330,000.00 ($329,646.90) - ($329,646.90) BUY 05/11/2026 05/15/2026 CATERPILLAR FINL SERVICE 14913V2D9 05/15/2026 4.500% 05/15/2031 $290,000.00 ($289,602.70) - ($289,602.70) BUY 05/12/2026 05/15/2026 SERVICENOW INC 81762PAF9 05/15/2026 4.250% 05/15/2028 $90,000.00 ($89,674.20) - ($89,674.20) BUY 05/18/2026 05/19/2026 US TREASURY N/B 91282CQA2 02/17/2026 3.500% 02/15/2029 $300,000.00 ($295,218.75) ($2,697.51) ($297,916.26) INTEREST 05/01/2026 05/01/2026 MONEY MARKET FUND MONEY0002 01/01/2010 0.000% - $457.29 $457.29 INTEREST 05/01/2026 05/25/2026 FHMS K083 A1 3137FJJV2 11/01/2018 3.944% 07/01/2028 - $887.43 $887.43 INTEREST 05/01/2026 05/25/2026 FHMS K524 A2 3137HDV56 07/01/2024 4.720% 05/01/2029 - $2,104.33 $2,104.33 INTEREST 05/01/2026 05/25/2026 FHMS K529 A2 3137HH6C0 10/01/2024 4.791% 09/01/2029 - $1,616.96 $1,616.96 INTEREST 05/01/2026 05/25/2026 FHMS K507 A2 3137HAMS2 09/01/2023 4.800% 09/01/2028 - $2,600.00 $2,600.00 INTEREST 05/01/2026 05/25/2026 FHMS K070 A2 3137FCJK1 12/01/2017 3.303% 11/01/2027 - $963.38 $963.38 INTEREST 05/01/2026 05/25/2026 FHMS K513 A2 3137HBFY5 01/01/2024 4.724% 12/01/2028 - $2,598.20 $2,598.20 INTEREST 05/01/2026 05/25/2026 FHMS K528 A2 3137HFNZ4 09/01/2024 4.508% 07/01/2029 - $2,554.53 $2,554.53 INTEREST 05/01/2026 05/25/2026 FHMS K509 A2 3137HAST4 10/01/2023 4.850% 09/01/2028 - $2,627.08 $2,627.08 INTEREST 05/01/2026 05/25/2026 FHMS K508 A2 3137HAQ74 10/01/2023 4.740% 08/01/2028 - $2,488.50 $2,488.50 INTEREST 05/01/2026 05/25/2026 FHMS KJ47 A1 3137HAMN3 09/01/2023 5.272% 08/01/2028 - $1,592.29 $1,592.29 INTEREST 05/01/2026 05/25/2026 FHMS K084 A2 3137FJZ93 11/01/2018 3.780% 10/01/2028 - $2,205.00 $2,205.00 INTEREST 05/01/2026 05/25/2026 FHMS K526 A2 3137HDXL9 08/01/2024 4.543% 07/01/2029 - $2,252.57 $2,252.57 INTEREST 05/01/2026 05/25/2026 FHMS KJ46 A1 3137HAD45 07/01/2023 4.777% 06/01/2028 - $2,593.02 $2,593.02 INTEREST 05/01/2026 05/25/2026 FHMS K515 A2 3137HBPD0 02/01/2024 5.400% 01/01/2029 - $2,925.00 $2,925.00 INTEREST 05/01/2026 05/25/2026 FNA 2018-M2 A2 3136B0YM2 02/01/2018 2.928% 01/01/2028 - $1,526.97 $1,526.97 INTEREST 05/01/2026 05/25/2026 FHMS K520 A2 3137HCKV3 04/01/2024 5.180% 03/01/2029 - $1,597.17 $1,597.17 INTEREST 05/01/2026 05/25/2026 FNA 2023-M6 A2 3136BQDE6 07/01/2023 4.172% 07/01/2028 - $2,309.94 $2,309.94 INTEREST 05/01/2026 05/25/2026 FHMS K505 A2 3137HACX2 07/01/2023 4.819% 06/01/2028 - $2,650.45 $2,650.45 INTEREST 05/01/2026 05/25/2026 FHMS K514 A2 3137HBLV4 02/01/2024 4.572% 12/01/2028 - $2,095.50 $2,095.50 INTEREST 05/01/2026 05/25/2026 FHMS K511 A2 3137HB3G7 12/01/2023 4.860% 10/01/2028 - $2,632.50 $2,632.50 INTEREST 05/05/2026 05/05/2026 NOVARTIS CAPITAL CORP
(CALLABLE) 66989HAY4 11/05/2025 4.100% 11/05/2030 - $13,120.00 $13,120.00 INTEREST 05/06/2026 05/06/2026 SHELL FINANCE US INC
(CALLABLE) 822905AN5 11/06/2025 4.125% 11/06/2030 - $7,528.13 $7,528.13 INTEREST 05/07/2026 05/07/2026 CITIGROUP INC (CALLABLE) 172967PZ8 05/07/2025 4.643% 05/07/2028 - $12,071.80 $12,071.80

05.2026 Transaction Register page 1 of 3
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 192
Managed Portfolio Transaction Register for May 2026
Transaction
Type Trade Date Settlement Date Security Description CUSIP Dated Date Coupon/Rate Final Maturity
Date Par/Principal Principal Proceeds
Accrued
Interest
Total
Cost/Proceeds
Realized G/L
Cost
Realized G/L
Amortized Cost
Sale
Method
INTEREST 05/09/2026 05/09/2026 BANK OF AMERICA CORP
(CALLABLE) 06051GMT3 05/09/2025 4.623% 05/09/2029 - $12,135.38 $12,135.38 INTEREST 05/15/2026 05/15/2026 US TREASURY N/B 91282CPK1 11/17/2025 3.500% 11/15/2028 - $6,037.50 $6,037.50 INTEREST 05/15/2026 05/15/2026 US TREASURY N/B 9128283F5 11/15/2017 2.250% 11/15/2027 - $2,812.50 $2,812.50 INTEREST 05/15/2026 05/15/2026 META PLATFORMS INC
(CALLABLE) 30303MAB8 11/03/2025 4.200% 11/15/2030 - $8,064.00 $8,064.00 INTEREST 05/15/2026 05/15/2026 US TREASURY N/B 91282CJK8 11/15/2023 4.625% 11/15/2026 - $28,906.25 $28,906.25 INTEREST 05/20/2026 05/20/2026 NATIONAL SECS CLEARING
(CALLABLE) 637639AQ8 05/20/2025 4.700% 05/20/2030 - $16,920.00 $16,920.00 INTEREST 05/25/2026 05/25/2026 FHMS K521 AS FLOATING 3137HCTM4 05/16/2024 4.128% 03/25/2029 - $2,250.57 $2,250.57 INTEREST 05/25/2026 05/25/2026 FHMS K535 AS FLOATING 3137HJSF5 02/13/2025 4.108% 10/25/2029 - $2,409.83 $2,409.83 INTEREST 05/25/2026 05/25/2026 FHMS K534 AS FLOATING 3137HJ5Z6 01/30/2025 4.098% 09/25/2029 - $1,204.74 $1,204.74 INTEREST 05/25/2026 05/25/2026 FHMS K536 AS FLOATING 3137HJZZ3 02/27/2025 4.149% 11/25/2029 - $2,227.45 $2,227.45 INTEREST 05/25/2026 05/25/2026 FHMS K533 AS FLOATING 3137HHW31 01/16/2025 4.070% 11/25/2029 - $1,424.29 $1,424.29 INTEREST 05/25/2026 05/25/2026 FHMS K537 AS FLOATING 3137HKPG3 03/20/2025 4.112% 01/25/2030 - $1,720.59 $1,720.59 INTEREST 05/25/2026 05/25/2026 FHMS K519 AS FLOATING 3137HCKQ4 04/18/2024 4.105% 03/25/2029 - $2,260.40 $2,260.40 INTEREST 05/25/2026 05/25/2026 FHMS K523 AS FLOATING 3137HDJW1 06/27/2024 4.199% 05/25/2029 - $2,271.85 $2,271.85 INTEREST 05/25/2026 05/25/2026 FHMS K531 AS FLOATING 3137HHUP4 12/12/2024 4.182% 09/25/2029 - $1,583.43 $1,583.43 INTEREST 05/29/2026 05/29/2026 CITIBANK NA (CALLABLE) 17325FBP2 05/29/2025 4.914% 05/29/2030 - $7,002.45 $7,002.45 INTEREST 05/29/2026 05/29/2026 MERCEDES-BENZ FIN NA 58769JAC1 11/28/2022 5.250% 11/29/2027 - $6,562.50 $6,562.50 INTEREST 05/31/2026 05/31/2026 US TREASURY N/B 91282CNG2 06/02/2025 4.000% 05/31/2030 - $5,000.00 $5,000.00 INTEREST 05/31/2026 05/31/2026 US TREASURY N/B 91282CAY7 11/30/2020 0.625% 11/30/2027 - $6,953.13 $6,953.13 INTEREST 05/31/2026 05/31/2026 US TREASURY N/B 91282CFY2 11/30/2022 3.875% 11/30/2029 - $10,656.25 $10,656.25 INTEREST 05/31/2026 05/31/2026 US TREASURY N/B 91282CKT7 05/31/2024 4.500% 05/31/2029 - $7,425.00 $7,425.00 INTEREST 05/31/2026 05/31/2026 US TREASURY N/B 91282CCE9 06/01/2021 1.250% 05/31/2028 - $1,656.25 $1,656.25 MATURITY 05/05/2026 05/05/2026 CHARLES SCHWAB CORP 8085A3E50 11/06/2025 0.000% 05/05/2026 $735,000.00 $735,000.00 - $735,000.00 $14,727.97 - PAYDOWNS 05/01/2026 05/25/2026 FNA 2023-M6 A2 3136BQDE6 07/01/2023 4.172% 07/01/2028 $58.46 $58.46 - $58.46 $0.35 $0.22 PAYDOWNS 05/01/2026 05/25/2026 FHMS K083 A1 3137FJJV2 11/01/2018 3.944% 07/01/2028 $9,979.73 $9,979.73 - $9,979.73 $292.37 $164.88 PAYDOWNS 05/01/2026 05/25/2026 FHMS KJ47 A1 3137HAMN3 09/01/2023 5.272% 08/01/2028 $2,099.60 $2,099.60 - $2,099.60 ($14.43) ($8.05) PAYDOWNS 05/01/2026 05/25/2026 FNA 2018-M2 A2 3136B0YM2 02/01/2018 2.928% 01/01/2028 $863.85 $863.85 - $863.85 $24.50 $15.56 PAYDOWNS 05/01/2026 05/25/2026 FHMS KJ46 A1 3137HAD45 07/01/2023 4.777% 06/01/2028 $934.94 $934.94 - $934.94 $7.67 $3.91 PAYDOWNS 05/25/2026 05/25/2026 FHMS K534 AS FLOATING 3137HJ5Z6 01/30/2025 4.098% 09/25/2029 $72.38 $72.38 - $72.38 - - PAYDOWNS 05/25/2026 05/25/2026 FHMS K521 AS FLOATING 3137HCTM4 05/16/2024 4.128% 03/25/2029 $385.50 $385.50 - $385.50 - $0.04

05.2026 Transaction Register page 2 of 3
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 193
Managed Portfolio Transaction Register for May 2026
Transaction
Type Trade Date Settlement Date Security Description CUSIP Dated Date Coupon/Rate Final Maturity
Date Par/Principal Principal Proceeds
Accrued
Interest
Total
Cost/Proceeds
Realized G/L
Cost
Realized G/L
Amortized Cost
Sale
Method
PAYDOWNS 05/25/2026 05/25/2026 FHMS K536 AS FLOATING 3137HJZZ3 02/27/2025 4.149% 11/25/2029 $307.14 $307.14 - $307.14 - ($0.06) PAYDOWNS 05/25/2026 05/25/2026 FHMS K533 AS FLOATING 3137HHW31 01/16/2025 4.070% 11/25/2029 $73.25 $73.25 - $73.25 - $0.01 PAYDOWNS 05/25/2026 05/25/2026 FHMS K537 AS FLOATING 3137HKPG3 03/20/2025 4.112% 01/25/2030 $43.24 $43.24 - $43.24 - - PAYDOWNS 05/25/2026 05/25/2026 FHMS K535 AS FLOATING 3137HJSF5 02/13/2025 4.108% 10/25/2029 $423.51 $423.51 - $423.51 - - PAYDOWNS 05/25/2026 05/25/2026 FHMS K531 AS FLOATING 3137HHUP4 12/12/2024 4.182% 09/25/2029 $61.88 $61.88 - $61.88 - $0.01 PAYDOWNS 05/25/2026 05/25/2026 FHMS K519 AS FLOATING 3137HCKQ4 04/18/2024 4.105% 03/25/2029 $318.98 $318.98 - $318.98 - $0.03 PAYDOWNS 05/25/2026 05/25/2026 FHMS K523 AS FLOATING 3137HDJW1 06/27/2024 4.199% 05/25/2029 $249.48 $249.48 - $249.48 - - SELL 05/06/2026 05/07/2026 NATIONAL SECS CLEARING
(CALLABLE) 637639AQ8 05/20/2025 4.700% 05/20/2030 $325,000.00 $329,719.00 $7,085.90 $336,804.90 $4,920.50 $4,884.45 FIFO SELL 05/12/2026 05/13/2026 US TREASURY N/B 91282CHU8 08/15/2023 4.375% 08/15/2026 $200,000.00 $200,343.75 $2,102.90 $202,446.65 $2,515.62 $540.43 FIFO SELL 05/14/2026 05/15/2026 US TREASURY N/B 91282CHU8 08/15/2023 4.375% 08/15/2026 $75,000.00 $75,123.05 $806.72 $75,929.77 $937.50 $195.24 FIFO SELL 05/18/2026 05/19/2026 REALTY INCOME CORP
(CALLABLE) 756109CF9 01/16/2024 4.750% 02/15/2029 $295,000.00 $296,619.55 $3,658.82 $300,278.37 ($1,820.15) ($1,624.72) FIFO Total $3,740,871.94 ($440,664.48) $220,949.89 ($219,714.59) $21,591.90 $4,171.95

05.2026 Transaction Register page 3 of 3
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 194
Liquid Portfolio Transaction Register for May 2026
Transaction
Type Trade Date Settlement Date Security Description Par/Principal Accrued Interest INTEREST 05/29/2026 06/01/2026 CAMP - $312,339.01
INTEREST 05/29/2026 06/01/2026 CAMP - $19,303.18
Total - $331,642.19

05.2026 Liquid Transactions page 1 of 1
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 195
Portfolio Inventory for June 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating Moody's Rating % of Plan
Assets
State of California Local
Agency Investment Fund LAIF n/a $75,731,992.36 $75,731,992.36 n/a n/a n/a n/a n/a $75,731,992.36 $75,731,992.36 n/a n/a n/a Riverside County
Treasurer’s Pooled Riv Co (TPIF) n/a $3,040,926.55 $3,040,926.55 n/a n/a n/a n/a n/a $3,040,926.55 $3,040,926.55 n/a n/a n/a Local Government
Investment Pools CAMP n/a $109,616,943.43 $109,616,943.43 n/a n/a n/a n/a n/a $109,616,943.43 $109,616,943.43 n/a n/a n/a Money Market Fund Allspring 94975P405 $6,432,664.82 $6,432,664.82 3.515% n/a n/a n/a n/a $6,432,664.82 $6,432,664.82 n/a n/a n/a Money Market Fund US BANK CASH n/a $36,102.50 $36,102.50 n/a n/a n/a n/a n/a $36,102.50 $36,102.50 n/a n/a n/a U.S. Treasury Bond / Note US TREASURY N/B 912828V98 $260,000.00 $257,271.47 2.250% 10/10/2024 02/15/2027 3.97% 230 $257,196.42 $250,067.19 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKZ3 $325,000.00 $325,191.04 4.375% 01/17/2025 07/15/2027 4.32% 380 $325,812.18 $325,444.34 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CNP2 $2,000,000.00 $1,996,650.81 3.875% 06/11/2026 07/31/2027 4.03% 396 $1,994,296.00 $1,996,484.38 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAH4 $1,100,000.00 $1,058,142.72 0.500% 01/31/2024 08/31/2027 4.04% 427 $1,054,796.60 $971,480.47 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFH9 $1,400,000.00 $1,377,130.86 3.125% 07/02/2024 08/31/2027 4.58% 427 $1,384,031.60 $1,340,609.38 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAL5 $1,000,000.00 $953,201.02 0.375% 11/24/2023 09/30/2027 4.50% 457 $954,570.00 $855,703.13 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFU0 $300,000.00 $297,854.06 4.125% 10/16/2023 10/31/2027 4.72% 488 $299,824.20 $293,496.09 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 9128283F5 $250,000.00 $243,798.28 2.250% 12/05/2024 11/15/2027 4.13% 503 $243,662.00 $237,099.61 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAY7 $225,000.00 $213,870.90 0.625% 11/24/2023 11/30/2027 4.48% 518 $214,163.10 $193,420.90 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CAY7 $2,000,000.00 $1,907,681.94 0.625% 08/02/2024 11/30/2027 4.01% 518 $1,903,672.00 $1,790,859.38 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CBB6 $1,400,000.00 $1,333,713.72 0.625% 01/26/2024 12/31/2027 4.07% 549 $1,328,688.20 $1,226,421.88 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 9128283W8 $2,350,000.00 $2,313,268.81 2.750% 09/03/2024 02/15/2028 3.75% 595 $2,298,043.85 $2,274,542.97 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CQB0 $1,000,000.00 $994,252.57 3.375% 03/16/2026 02/29/2028 3.73% 609 $987,539.00 $993,281.25 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CMW8 $1,000,000.00 $995,426.28 3.750% 03/31/2026 04/15/2028 4.02% 655 $992,891.00 $994,804.69 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CNM9 $1,500,000.00 $1,492,005.30 3.875% 06/11/2026 07/15/2028 4.15% 746 $1,491,387.00 $1,491,796.88 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHX2 $350,000.00 $351,307.27 4.375% 11/05/2024 08/31/2028 4.19% 793 $351,476.65 $352,228.52 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CCY5 $545,000.00 $511,117.58 1.250% 12/05/2024 09/30/2028 4.18% 823 $511,150.60 $489,243.95 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CPC9 $540,000.00 $539,558.57 3.500% 12/03/2025 10/15/2028 3.54% 838 $532,132.20 $539,451.56 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CPK1 $345,000.00 $343,819.82 3.500% 01/22/2026 11/15/2028 3.65% 869 $339,811.55 $343,611.91 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CPP0 $155,000.00 $154,452.43 3.500% 01/20/2026 12/15/2028 3.65% 899 $152,602.31 $154,358.20 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CQA2 $300,000.00 $295,415.13 3.500% 05/19/2026 02/15/2029 4.12% 961 $295,031.40 $295,218.75 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CQA2 $1,200,000.00 $1,201,803.48 3.500% 03/05/2026 02/15/2029 3.44% 961 $1,180,125.60 $1,202,015.63 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CEM9 $100,000.00 $97,228.35 2.875% 10/11/2024 04/30/2029 3.92% 1035 $96,582.00 $95,683.59 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKT7 $80,000.00 $81,205.94 4.500% 06/05/2025 05/31/2029 3.95% 1066 $80,725.04 $81,615.63 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKT7 $250,000.00 $252,707.31 4.500% 12/12/2024 05/31/2029 4.10% 1066 $252,265.75 $254,023.44 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKX8 $250,000.00 $252,471.68 4.250% 07/21/2025 06/30/2029 3.90% 1096 $250,566.50 $253,193.36 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFL0 $570,000.00 $568,342.99 3.875% 06/05/2025 09/30/2029 3.97% 1188 $564,834.66 $567,840.23 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CLR0 $230,000.00 $232,655.35 4.125% 01/21/2026 10/31/2029 3.75% 1219 $229,631.54 $232,982.81 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CFY2 $550,000.00 $551,879.67 3.875% 01/21/2026 11/30/2029 3.77% 1249 $544,693.60 $552,105.47 AA+ Aa1 n/a

06.2026 Portfolio Inventory page 1 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 196
Portfolio Inventory for June 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating Moody's Rating % of Plan
Assets
U.S. Treasury Bond / Note US TREASURY N/B 91282CGJ4 $3,000,000.00 $2,928,940.85 3.500% 06/11/2026 01/31/2030 4.22% 1311 $2,932,617.00 $2,927,929.69 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGQ8 $400,000.00 $404,412.63 4.000% 10/09/2025 02/28/2030 3.67% 1339 $397,578.00 $405,218.75 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $285,000.00 $284,680.34 3.625% 01/15/2026 03/31/2030 3.66% 1370 $279,478.13 $284,643.75 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $290,000.00 $289,308.69 3.625% 01/14/2026 03/31/2030 3.69% 1370 $284,381.25 $289,229.69 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $550,000.00 $548,572.66 3.625% 01/14/2026 03/31/2030 3.70% 1370 $539,343.75 $548,410.16 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CGS4 $680,000.00 $668,595.46 3.625% 05/13/2025 03/31/2030 4.11% 1370 $666,825.00 $665,470.31 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CNG2 $250,000.00 $252,962.01 4.000% 01/15/2026 05/31/2030 3.67% 1431 $248,310.50 $253,281.25 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHJ3 $490,000.00 $485,728.33 3.750% 08/05/2025 06/30/2030 3.99% 1461 $482,037.50 $484,851.17 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHW4 $1,250,000.00 $1,271,234.89 4.125% 10/06/2025 08/31/2030 3.68% 1523 $1,246,533.75 $1,274,658.20 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CHZ7 $1,100,000.00 $1,138,684.23 4.625% 11/06/2025 09/30/2030 3.72% 1553 $1,117,960.80 $1,144,085.94 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CJX0 $650,000.00 $656,221.32 4.000% 02/10/2026 01/31/2031 3.77% 1676 $644,363.20 $656,703.13 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKC4 $250,000.00 $252,685.55 4.250% 03/26/2026 02/28/2031 3.99% 1704 $250,420.00 $252,822.27 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKC4 $1,000,000.00 $999,731.81 4.250% 06/11/2026 02/28/2031 4.26% 1704 $1,001,680.00 $999,726.56 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKF7 $215,000.00 $216,816.37 4.125% 04/23/2026 03/31/2031 3.93% 1735 $214,193.75 $216,881.25 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKF7 $360,000.00 $362,568.05 4.125% 04/14/2026 03/31/2031 3.96% 1735 $358,650.00 $362,671.88 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKF7 $540,000.00 $542,890.11 4.125% 04/07/2026 03/31/2031 4.00% 1735 $537,975.00 $543,016.41 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKF7 $860,000.00 $864,081.72 4.125% 05/06/2026 03/31/2031 4.01% 1735 $856,775.00 $864,199.22 AA+ Aa1 n/a U.S. Treasury Bond / Note US TREASURY N/B 91282CKN0 $170,000.00 $173,322.79 4.625% 06/05/2026 04/30/2031 4.17% 1765 $173,041.47 $173,366.80 AA+ Aa1 n/a U.S. Treasury Bill TREASURY BILL 912797TF4 $2,000,000.00 $1,999,800.35 0.000% 06/11/2026 07/02/2026 3.59% 2 $1,999,800.00 $1,995,807.29 A-1+ P-1 n/a Municipal Bond / Note HAWAII ST-TXBL-GP (CALLABLE) 419792S23 $190,000.00 $190,000.00 4.212% 04/30/2026 04/01/2031 4.21% 1736 $188,012.60 $190,000.00 AA+ Aa2 n/a Federal Agency
Commercial Mortgage- FHMS K070 A2 3137FCJK1 $350,000.00 $342,383.12 3.303% 07/05/2024 11/01/2027 4.90% 489 $345,129.40 $332,541.02 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FNA 2018-M2 A2 3136B0YM2 $624,101.46 $613,894.58 3.026% 04/08/2025 01/01/2028 4.07% 550 $610,588.42 $606,402.33 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS KJ46 A1 3137HAD45 $635,159.45 $632,711.98 4.777% 04/05/2024 06/01/2028 4.99% 702 $636,511.07 $629,949.16 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K505 A2 3137HACX2 $660,000.00 $659,796.13 4.819% 03/20/2024 06/01/2028 4.84% 702 $662,950.86 $659,561.72 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K083 A1 3137FJJV2 $250,789.43 $246,938.13 3.944% 04/30/2024 07/01/2028 4.72% 732 $249,437.92 $243,442.08 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FNA 2023-M6 A2 3136BQDE6 $664,310.07 $662,023.55 4.190% 10/23/2024 07/01/2028 4.35% 732 $659,958.18 $660,313.84 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS KJ47 A1 3137HAMN3 $358,630.86 $359,912.75 5.272% 04/05/2024 08/01/2028 5.10% 763 $360,007.65 $361,096.45 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K508 A2 3137HAQ74 $630,000.00 $626,662.40 4.740% 06/14/2024 08/01/2028 5.00% 763 $632,457.63 $623,823.05 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K507 A2 3137HAMS2 $650,000.00 $648,899.60 4.800% 05/21/2024 09/01/2028 4.88% 794 $653,376.10 $647,968.75 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K509 A2 3137HAST4 $650,000.00 $649,643.32 4.850% 05/21/2024 09/01/2028 4.88% 794 $653,625.05 $649,339.84 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K511 A2 3137HB3G7 $650,000.00 $652,100.19 4.860% 03/28/2024 10/01/2028 4.71% 824 $654,491.50 $653,859.38 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K084 A2 3137FJZ93 $700,000.00 $683,464.80 3.780% 05/21/2024 10/01/2028 4.85% 824 $689,187.10 $670,031.25 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K514 A2 3137HBLV4 $275,000.00 $275,554.41 4.572% 06/30/2026 12/01/2028 4.49% 885 $275,007.70 $275,537.11 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K514 A2 3137HBLV4 $550,000.00 $547,335.12 4.572% 03/20/2024 12/01/2028 4.78% 885 $550,015.40 $545,166.02 AA+ Aa1 n/a

06.2026 Portfolio Inventory page 2 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 197
Portfolio Inventory for June 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating Moody's Rating % of Plan
Assets
Federal Agency
Commercial Mortgage- FHMS K513 A2 3137HBFY5 $660,000.00 $659,133.80 4.724% 03/20/2024 12/01/2028 4.78% 885 $662,409.66 $658,427.34 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K515 A2 3137HBPD0 $650,000.00 $654,135.34 5.400% 06/03/2024 01/01/2029 5.14% 916 $661,915.80 $657,083.98 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K520 A2 3137HCKV3 $370,000.00 $370,899.36 5.180% 04/30/2024 03/01/2029 5.09% 975 $375,631.40 $371,501.83 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K521 AS FLOATING 3137HCTM4 $646,598.08 $646,598.08 4.150% 05/16/2024 03/25/2029 5.85% 999 $645,043.65 $646,598.08 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K519 AS FLOATING 3137HCKQ4 $655,837.17 $655,837.17 4.092% 04/18/2024 03/25/2029 5.81% 999 $654,635.68 $655,837.17 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K524 A2 3137HDV56 $535,000.00 $537,095.38 4.720% 07/25/2024 05/01/2029 4.58% 1036 $537,651.46 $538,285.43 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K523 AS FLOATING 3137HDJW1 $648,300.73 $648,300.73 4.140% 06/27/2024 05/25/2029 5.87% 1060 $647,966.20 $648,300.73 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K526 A2 3137HDXL9 $595,000.00 $598,598.56 4.543% 08/15/2024 07/01/2029 4.33% 1097 $595,956.76 $600,565.63 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K528 A2 3137HFNZ4 $680,000.00 $680,688.20 4.508% 10/25/2024 07/01/2029 4.47% 1097 $679,873.52 $681,009.38 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K529 A2 3137HH6C0 $405,000.00 $410,500.18 4.791% 10/16/2024 09/01/2029 4.34% 1159 $408,475.71 $413,094.74 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K534 AS FLOATING 3137HJ5Z6 $348,879.25 $348,879.25 4.118% 01/30/2025 09/25/2029 4.82% 1183 $347,983.33 $348,879.25 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K531 AS FLOATING 3137HHUP4 $454,219.98 $454,219.98 4.179% 12/12/2024 09/25/2029 5.18% 1183 $453,449.17 $454,219.98 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K535 AS FLOATING 3137HJSF5 $695,662.96 $695,662.96 4.130% 02/13/2025 10/25/2029 4.84% 1213 $694,448.33 $695,662.96 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K533 AS FLOATING 3137HHW31 $399,344.91 $399,344.91 4.160% 01/16/2025 11/25/2029 4.93% 1244 $399,282.62 $399,344.91 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K536 AS FLOATING 3137HJZZ3 $643,166.87 $643,166.87 4.092% 02/27/2025 11/25/2029 4.82% 1244 $641,523.58 $643,166.87 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FHMS K537 AS FLOATING 3137HKPG3 $494,791.23 $494,791.23 4.152% 03/20/2025 01/25/2030 4.86% 1305 $493,702.19 $494,791.23 AA+ Aa1 n/a Federal Agency
Commercial Mortgage- FNA 2026-M11 2A2 3136G5V64 $600,000.00 $592,584.05 4.250% 06/29/2026 05/01/2031 4.53% 1766 $591,621.00 $592,687.50 AA+ Aa1 n/a Corporate Note AMERICAN HONDA FINANCE 02665WFK2 $185,000.00 $184,914.74 4.900% 07/10/2024 07/09/2027 4.95% 374 $185,760.54 $184,761.35 BBB+ A3 0.07% Corporate Note AMERICAN HONDA FINANCE 02665WGD7 $325,000.00 $324,990.05 4.550% 07/10/2025 07/09/2027 4.55% 374 $325,524.55 $324,980.50 BBB+ A3 0.12% Corporate Note MERCEDES-BENZ FIN NA 58769JAC1 $250,000.00 $250,978.53 5.250% 03/15/2024 11/29/2027 4.96% 517 $252,409.75 $252,432.50 A A2 0.09% Corporate Note UBS AG STAMFORD CT
(CALLABLE) 90261AAD4 $250,000.00 $250,000.00 4.864% 01/10/2025 01/10/2028 4.86% 559 $250,667.50 $250,000.00 A+ Aa2 0.09% Corporate Note WELLS FARGO & COMPANY
(CALLABLE) 95000U3R2 $85,000.00 $85,000.00 4.900% 01/24/2025 01/24/2028 4.90% 573 $85,192.53 $85,000.00 BBB+ A1 0.03% Corporate Note KENVUE INC (CALLABLE) 49177JAF9 $375,000.00 $380,607.15 5.050% 06/30/2025 03/22/2028 4.12% 631 $378,609.00 $383,853.75 A A2 0.14% Corporate Note WELLS FARGO & COMPANY
(CALLABLE) 95000U3L5 $320,000.00 $320,000.00 5.707% 04/22/2024 04/22/2028 5.71% 662 $322,878.40 $320,000.00 BBB+ A1 0.12% Corporate Note CITIGROUP INC (CALLABLE) 172967PZ8 $520,000.00 $520,000.00 4.643% 05/07/2025 05/07/2028 4.64% 677 $520,321.88 $520,000.00 BBB+ A3 0.19% Corporate Note SERVICENOW INC 81762PAF9 $90,000.00 $89,694.43 4.250% 05/15/2026 05/15/2028 4.44% 685 $89,698.86 $89,674.20 A A2 0.03% Corporate Note USAA CAPITAL CORP (CALLABLE) 90327QDA4 $205,000.00 $204,746.66 4.375% 06/02/2025 06/01/2028 4.44% 702 $204,554.74 $204,612.55 AA- Aa2 0.07% Corporate Note HSBC USA INC 40428HR95 $525,000.00 $525,027.68 4.650% 06/03/2025 06/03/2028 4.65% 704 $526,514.10 $525,042.00 A- A2 0.19% Corporate Note JPMORGAN CHASE & CO
(CALLABLE) 46647PEL6 $310,000.00 $310,000.00 4.979% 07/22/2024 07/22/2028 4.98% 753 $311,359.35 $310,000.00 A A1 0.11% Corporate Note GOLDMAN SACHS GROUP INC
(CALLABLE) 38145GAP5 $125,000.00 $125,000.00 4.148% 01/21/2026 01/21/2029 4.15% 936 $123,924.00 $125,000.00 BBB+ A2 0.04% Corporate Note GOLDMAN SACHS GROUP INC
(CALLABLE) 38145GAP5 $425,000.00 $424,837.80 4.148% 03/03/2026 01/21/2029 4.16% 936 $421,341.60 $424,817.25 BBB+ A2 0.15% Corporate Note PNC FINANCIAL SERVICES
(CALLABLE) 693475CG8 $290,000.00 $290,000.00 4.075% 01/26/2026 01/26/2029 4.08% 941 $287,617.94 $290,000.00 A- A3 0.10% Corporate Note NATIONAL RURAL UTIL COOP
(CALLABLE) 63743HFN7 $145,000.00 $146,490.64 4.850% 03/31/2026 02/07/2029 4.42% 953 $145,906.69 $146,629.80 A- A2 0.05% Corporate Note ALPHABET INC (CALLABLE) 02079KBJ5 $105,000.00 $104,665.22 3.700% 02/13/2026 02/15/2029 3.83% 961 $103,295.54 $104,618.85 AA+ Aa2 0.04%

06.2026 Portfolio Inventory page 3 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 198
Portfolio Inventory for June 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating Moody's Rating % of Plan
Assets
Corporate Note CISCO SYSTEMS INC (CALLABLE) 17275RBR2 $350,000.00 $357,041.92 4.850% 11/10/2025 02/26/2029 4.04% 972 $353,716.65 $358,690.50 AA- A1 0.13% Corporate Note ABBOTT LABORATORIES
(CALLABLE) 002824BR0 $585,000.00 $584,331.32 3.700% 03/09/2026 03/09/2029 3.75% 983 $573,796.67 $584,257.05 A+ Aa3 0.21% Corporate Note MERCEDES-BENZ FIN NA 58769JBP1 $340,000.00 $339,871.65 4.250% 03/10/2026 03/10/2029 4.27% 984 $335,831.60 $339,857.20 A A2 0.12% Corporate Note KLA CORP (CALLABLE) 482480AG5 $360,000.00 $360,198.12 4.100% 11/14/2025 03/15/2029 4.08% 989 $356,641.92 $360,241.20 A- A2 0.13% Corporate Note SALESFORCE INC (CALLABLE) 79466LAR5 $1,095,000.00 $1,094,782.58 4.650% 03/13/2026 03/15/2029 4.66% 989 $1,094,432.79 $1,094,759.10 A+ A2 0.39% Corporate Note UBS AG STAMFORD CT
(CALLABLE) 90261AAG7 $250,000.00 $250,000.00 4.302% 03/16/2026 03/16/2029 4.30% 990 $248,980.75 $250,000.00 A+ Aa2 0.09% Corporate Note HOME DEPOT INC (CALLABLE) 437076CW0 $250,000.00 $256,014.28 4.900% 12/04/2025 04/15/2029 3.97% 1020 $253,301.00 $257,212.50 A A2 0.09% Corporate Note BANK OF AMERICA CORP
(CALLABLE) 06051GMT3 $525,000.00 $525,000.00 4.623% 05/09/2025 05/09/2029 4.62% 1044 $524,746.95 $525,000.00 A- A1 0.19% Corporate Note CITIBANK NA (CALLABLE) 17325FBT4 $825,000.00 $825,000.00 4.554% 06/18/2026 06/18/2029 4.55% 1084 $824,057.03 $825,000.00 A+ Aa3 0.30% Corporate Note AMERICAN EXPRESS CO
(CALLABLE) 025816EJ4 $360,000.00 $361,580.49 4.351% 02/04/2026 07/20/2029 4.19% 1116 $358,158.96 $361,879.20 A- A2 0.13% Corporate Note BMW US CAPITAL LLC
(CALLABLE) 05565ECR4 $550,000.00 $549,285.61 4.650% 06/03/2026 08/13/2029 4.69% 1140 $548,555.70 $549,268.50 A A2 0.20% Corporate Note BANK OF NY MELLON CORP
(CALLABLE) 06406RBT3 $855,000.00 $897,380.31 6.317% 03/05/2026 10/25/2029 4.62% 1213 $886,171.59 $902,974.05 A Aa3 0.32% Corporate Note WELLS FARGO & COMPANY
(CALLABLE) 95000U4D2 $95,000.00 $95,000.00 4.182% 01/23/2026 01/23/2030 4.18% 1303 $93,754.74 $95,000.00 BBB+ A1 0.03% Corporate Note MORGAN STANLEY (CALLABLE) 6174468G7 $430,000.00 $431,785.04 4.431% 01/26/2026 01/23/2030 4.30% 1303 $426,071.52 $431,982.30 A- A1 0.16% Corporate Note ADOBE INC (CALLABLE) 00724PAD1 $55,000.00 $51,677.60 2.300% 02/10/2026 02/01/2030 4.13% 1312 $50,770.61 $51,342.50 A+ A1 0.02% Corporate Note ADOBE INC (CALLABLE) 00724PAD1 $110,000.00 $103,507.14 2.300% 02/25/2026 02/01/2030 4.09% 1312 $101,541.22 $102,921.50 A+ A1 0.04% Corporate Note MARS INC (CALLABLE) 571676AY1 $140,000.00 $140,127.25 4.800% 03/12/2025 03/01/2030 4.77% 1340 $140,417.06 $140,168.00 A A2 0.05% Corporate Note MARS INC (CALLABLE) 571676AY1 $145,000.00 $144,880.99 4.800% 03/12/2025 03/01/2030 4.83% 1340 $145,431.96 $144,843.40 A A2 0.05% Corporate Note BLACKROCK INC (CALLABLE) 09247XAQ4 $20,000.00 $18,674.05 2.400% 06/27/2025 04/30/2030 4.30% 1400 $18,516.08 $18,358.40 AA- Aa3 0.01% Corporate Note BLACKROCK INC (CALLABLE) 09247XAQ4 $200,000.00 $186,693.44 2.400% 06/30/2025 04/30/2030 4.30% 1400 $185,160.80 $183,552.00 AA- Aa3 0.07% Corporate Note AMERICAN EXPRESS CO
(CALLABLE) 025816ET2 $225,000.00 $225,000.00 4.444% 05/04/2026 05/03/2030 4.44% 1403 $223,613.33 $225,000.00 A- A2 0.08% Corporate Note NATIONAL SECS CLEARING
(CALLABLE) 637639AQ8 $230,000.00 $229,886.90 4.700% 05/20/2025 05/20/2030 4.71% 1420 $230,958.64 $229,857.40 AA Aa1 0.08% Corporate Note NATIONAL SECS CLEARING
(CALLABLE) 637639AQ8 $490,000.00 $490,704.58 4.700% 05/20/2025 05/20/2030 4.66% 1420 $492,042.32 $490,886.90 AA Aa1 0.18% Corporate Note ANALOG DEVICES INC
(CALLABLE) 032654BE4 $525,000.00 $524,627.35 4.500% 06/16/2025 06/15/2030 4.52% 1446 $523,720.58 $524,538.00 A A2 0.19% Corporate Note NOVARTIS CAPITAL CORP
(CALLABLE) 66989HAY4 $640,000.00 $638,312.37 4.100% 11/05/2025 11/05/2030 4.17% 1589 $628,771.84 $638,080.00 AA- Aa3 0.23% Corporate Note SHELL FINANCE US INC
(CALLABLE) 822905AN5 $365,000.00 $364,051.86 4.125% 11/06/2025 11/06/2030 4.19% 1590 $358,404.45 $363,923.25 A+ Aa2 0.13% Corporate Note META PLATFORMS INC
(CALLABLE) 30303MAB8 $360,000.00 $361,079.50 4.200% 11/17/2025 11/15/2030 4.12% 1599 $354,352.68 $361,220.40 AA- Aa3 0.13% Corporate Note TOTALENERGI CAP USA LLC
(CALLABLE) 89158TAA7 $335,000.00 $335,000.00 4.248% 01/13/2026 01/13/2031 4.25% 1658 $329,355.25 $335,000.00 A+ Aa3 0.12% Corporate Note TOTALENERGI CAP USA LLC
(CALLABLE) 89158TAA7 $455,000.00 $456,288.67 4.248% 01/13/2026 01/13/2031 4.18% 1658 $447,333.25 $456,410.50 A+ Aa3 0.16% Corporate Note ALPHABET INC (CALLABLE) 02079KBK2 $550,000.00 $549,759.18 4.100% 02/17/2026 02/15/2031 4.11% 1691 $540,419.00 $549,741.50 AA+ Aa2 0.20% Corporate Note AMAZON.COM INC (CALLABLE) 023135DD5 $325,000.00 $324,534.20 4.250% 03/13/2026 03/13/2031 4.28% 1717 $320,012.88 $324,506.00 AA A1 0.12% Corporate Note AMAZON.COM INC (CALLABLE) 023135DD5 $410,000.00 $409,381.29 4.250% 03/13/2026 03/13/2031 4.29% 1717 $403,708.55 $409,344.00 AA A1 0.15% Corporate Note BMW US CAPITAL LLC
(CALLABLE) 05565EDH5 $350,000.00 $349,708.26 4.650% 03/19/2026 03/19/2031 4.67% 1723 $345,612.75 $349,692.00 A A2 0.13% Corporate Note CATERPILLAR FINL SERVICE 14913V2D9 $290,000.00 $289,612.22 4.500% 05/15/2026 05/15/2031 4.53% 1780 $288,628.01 $289,602.70 A A1 0.10%

06.2026 Portfolio Inventory page 4 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 199
Portfolio Inventory for June 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating Moody's Rating % of Plan
Assets
Corporate Note ELI LILLY & CO (CALLABLE) 532457DL9 $330,000.00 $329,655.23 4.375% 05/20/2026 05/20/2031 4.40% 1785 $327,459.99 $329,646.90 AA- Aa3 0.12% Corporate Note MASTERCARD INC (CALLABLE) 57636QBL7 $290,000.00 $290,267.34 4.600% 06/08/2026 06/08/2031 4.58% 1804 $289,554.27 $290,269.70 A+ Aa3 0.10% Corporate Note MASTERCARD INC (CALLABLE) 57636QBL7 $445,000.00 $444,648.12 4.600% 06/08/2026 06/08/2031 4.62% 1804 $444,316.04 $444,644.00 A+ Aa3 0.16% Corporate Note NATIONAL SECS CLEARING
(CALLABLE) 637639AT2 $340,000.00 $339,896.21 4.700% 06/09/2026 06/09/2031 4.71% 1805 $339,955.46 $339,894.60 AA Aa1 0.12% Corporate Note INTUIT INC (CALLABLE) 46124HAK2 $415,000.00 $416,005.60 4.950% 06/15/2026 06/15/2031 4.89% 1811 $414,990.46 $416,012.60 A A3 0.15% Corporate Note NVIDIA CORP (CALLABLE) 67066GAR5 $570,000.00 $568,925.83 4.500% 06/18/2026 06/15/2031 4.54% 1811 $567,982.20 $568,917.00 AA Aa1 0.20% Commercial Paper HSBC USA INC 40434RJE3 $500,000.00 $495,875.00 0.000% 06/12/2026 09/14/2026 3.96% 76 $495,861.00 $494,830.00 A-2 P-1 0.18% Commercial Paper CITIGROUP GLOBAL MARKETS 17291YKP1 $1,500,000.00 $1,481,570.00 0.000% 04/27/2026 10/23/2026 3.88% 115 $1,481,224.50 $1,471,061.67 A-1 P-1 0.53% Commercial Paper BANK OF NEW YORK MELLON 06406XPS7 $1,600,000.00 $1,557,866.67 0.000% 06/04/2026 02/26/2027 3.95% 241 $1,556,536.00 $1,553,126.67 A-1+ P-1 0.56% Commercial Paper BARCLAYS CAPITAL INC 06743VQ11 $1,500,000.00 $1,459,702.50 0.000% 06/05/2026 03/01/2027 3.98% 244 $1,458,381.00 $1,455,390.83 A-1 NR 0.52% Certificate of Deposit CREDIT INDUST ET COMM NY 22536WM94 $765,000.00 $765,000.00 3.950% 10/09/2025 10/08/2026 3.95% 100 $764,860.77 $765,000.00 A-1 P-1 0.28% Certificate of Deposit ROYAL BANK OF CANADA NY 78015J2H9 $1,100,000.00 $1,100,000.00 4.000% 03/12/2026 03/12/2027 4.00% 255 $1,098,200.40 $1,100,000.00 A-1+ P-1 0.40% Certificate of Deposit TORONTO DOMINION BANK NY 89115M3E4 $1,100,000.00 $1,100,000.00 4.000% 03/12/2026 03/12/2027 4.00% 255 $1,098,144.30 $1,100,000.00 A-1 P-1 0.40% Certificate of Deposit BANK OF NOVA SCOTIA HOUS 06418NPG1 $1,100,000.00 $1,100,000.00 4.030% 03/19/2026 03/18/2027 4.03% 261 $1,098,771.30 $1,100,000.00 A-1 P-1 0.40% Bank Note TRUIST BANK (CALLABLE) 89788JAH2 $725,000.00 $722,771.70 4.136% 01/23/2026 10/23/2029 4.23% 1211 $716,524.03 $722,498.75 A A3 0.26% Bank Note MORGAN STANLEY PVT BANK
(CALLABLE) 61776NU43 $265,000.00 $264,945.63 4.213% 02/02/2026 02/08/2030 4.22% 1319 $261,538.57 $264,939.05 A+ Aa3 0.10% Bank Note MORGAN STANLEY PVT BANK
(CALLABLE) 61776NU43 $385,000.00 $385,000.00 4.213% 02/02/2026 02/08/2030 4.21% 1319 $379,971.13 $385,000.00 A+ Aa3 0.14% Bank Note CITIBANK NA (CALLABLE) 17325FBP2 $285,000.00 $285,000.00 4.914% 05/29/2025 05/29/2030 4.91% 1429 $288,516.62 $285,000.00 A+ Aa3 0.10% Total $278,928,422.11 $278,439,910.20 $278,140,477.09 $277,851,942.55

06.2026 Portfolio Inventory page 5 of 5
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 200
Managed Portfolio Transaction Register for June 2026
Transaction
Type Trade Date Settlement Date Security Description CUSIP Dated Date Coupon/Rate Final Maturity Date Par/Principal ($) Principal Proceeds ($) Accrued
Interest ($)
Total
Cost/Proceeds ($)
Realized G/L -
Cost ($)
Realized G/L -
Amortized Cost ($)
Sale
Method
BUY 06/01/2026 06/05/2026 US TREASURY N/B 91282CKN0 04/30/2024 4.625% 04/30/2031 $1,150,000.00 ($1,172,775.39) ($5,203.13) ($1,177,978.52) BUY 06/02/2026 06/03/2026 BMW US CAPITAL LLC
(CALLABLE) 05565ECR4 08/13/2024 4.650% 08/13/2029 $550,000.00 ($549,268.50) ($7,814.58) ($557,083.08) BUY 06/02/2026 06/09/2026 NATIONAL SECS
CLEARING (CALLABLE) 637639AT2 06/09/2026 4.700% 06/09/2031 $340,000.00 ($339,894.60) - ($339,894.60) BUY 06/03/2026 06/04/2026 BANK OF NEW YORK
MELLON 06406XPS7 06/03/2026 0.000% 02/26/2027 $1,600,000.00 ($1,553,126.67) - ($1,553,126.67) BUY 06/04/2026 06/05/2026 BARCLAYS CAPITAL INC 06743VQ11 06/04/2026 0.000% 03/01/2027 $1,500,000.00 ($1,455,390.83) - ($1,455,390.83) BUY 06/04/2026 06/08/2026 MASTERCARD INC
(CALLABLE) 57636QBL7 06/08/2026 4.600% 06/08/2031 $445,000.00 ($444,644.00) - ($444,644.00) BUY 06/05/2026 06/08/2026 MASTERCARD INC
(CALLABLE) 57636QBL7 06/08/2026 4.600% 06/08/2031 $290,000.00 ($290,269.70) - ($290,269.70) BUY 06/10/2026 06/11/2026 TREASURY BILL 912797TF4 01/02/2026 0.000% 07/02/2026 $2,000,000.00 ($1,995,807.29) - ($1,995,807.29) BUY 06/10/2026 06/11/2026 US TREASURY N/B 91282CKC4 02/29/2024 4.250% 02/28/2031 $1,000,000.00 ($999,726.56) ($11,895.38) ($1,011,621.94) BUY 06/10/2026 06/11/2026 US TREASURY N/B 91282CNP2 07/31/2025 3.875% 07/31/2027 $2,000,000.00 ($1,996,484.38) ($28,045.58) ($2,024,529.96) BUY 06/10/2026 06/11/2026 US TREASURY N/B 91282CGJ4 01/31/2023 3.500% 01/31/2030 $3,000,000.00 ($2,927,929.69) ($37,997.24) ($2,965,926.93) BUY 06/10/2026 06/11/2026 US TREASURY N/B 91282CNM9 07/15/2025 3.875% 07/15/2028 $2,000,000.00 ($1,989,062.50) ($31,470.99) ($2,020,533.49) BUY 06/11/2026 06/18/2026 CITIBANK NA
(CALLABLE) 17325FBT4 06/18/2026 4.554% 06/18/2029 $825,000.00 ($825,000.00) - ($825,000.00) BUY 06/12/2026 06/12/2026 HSBC USA INC 40434RJE3 09/15/2025 0.000% 09/14/2026 $500,000.00 ($494,830.00) - ($494,830.00) BUY 06/12/2026 06/15/2026 INTUIT INC (CALLABLE) 46124HAK2 06/11/2026 4.950% 06/15/2031 $415,000.00 ($416,012.60) ($228.25) ($416,240.85) BUY 06/15/2026 06/18/2026 NVIDIA CORP
(CALLABLE) 67066GAR5 06/18/2026 4.500% 06/15/2031 $570,000.00 ($568,917.00) - ($568,917.00) BUY 06/25/2026 06/30/2026 FHMS K514 A2 3137HBLV4 02/01/2024 4.572% 12/01/2028 $275,000.00 ($275,537.11) ($1,012.83) ($276,549.94) BUY 06/26/2026 06/29/2026 FNA 2026-M11 2A2 3136G5V64 05/01/2026 4.250% 05/01/2031 $600,000.00 ($592,687.50) ($1,983.33) ($594,670.83) INTEREST 06/01/2026 06/01/2026 USAA CAPITAL CORP
(CALLABLE) 90327QDA4 06/02/2025 4.375% 06/01/2028 - - $4,484.38 $4,484.38 INTEREST 06/01/2026 06/01/2026 MONEY MARKET FUND MONEY0002 01/01/2010 0.000% - - $750.28 $750.28 INTEREST 06/01/2026 06/25/2026 FHMS K508 A2 3137HAQ74 10/01/2023 4.740% 08/01/2028 - - $2,488.50 $2,488.50 INTEREST 06/01/2026 06/25/2026 FHMS KJ46 A1 3137HAD45 07/01/2023 4.777% 06/01/2028 - - $2,873.15 $2,873.15 INTEREST 06/01/2026 06/25/2026 FHMS K520 A2 3137HCKV3 04/01/2024 5.180% 03/01/2029 - - $1,597.17 $1,597.17 INTEREST 06/01/2026 06/25/2026 FHMS KJ47 A1 3137HAMN3 09/01/2023 5.272% 08/01/2028 - - $1,583.07 $1,583.07 INTEREST 06/01/2026 06/25/2026 FHMS K513 A2 3137HBFY5 01/01/2024 4.724% 12/01/2028 - - $2,598.20 $2,598.20 INTEREST 06/01/2026 06/25/2026 FNA 2018-M2 A2 3136B0YM2 02/01/2018 3.026% 01/01/2028 - - $1,575.70 $1,575.70 INTEREST 06/01/2026 06/25/2026 FHMS K528 A2 3137HFNZ4 09/01/2024 4.508% 07/01/2029 - - $2,554.53 $2,554.53 INTEREST 06/01/2026 06/25/2026 FHMS K529 A2 3137HH6C0 10/01/2024 4.791% 09/01/2029 - - $1,616.96 $1,616.96 INTEREST 06/01/2026 06/25/2026 FHMS K509 A2 3137HAST4 10/01/2023 4.850% 09/01/2028 - - $2,627.08 $2,627.08 INTEREST 06/01/2026 06/25/2026 FHMS K526 A2 3137HDXL9 08/01/2024 4.543% 07/01/2029 - - $2,252.57 $2,252.57 INTEREST 06/01/2026 06/25/2026 FHMS K515 A2 3137HBPD0 02/01/2024 5.400% 01/01/2029 - - $2,925.00 $2,925.00

06.2026 Transaction Register page 1 of 3
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 201
Managed Portfolio Transaction Register for June 2026
Transaction
Type Trade Date Settlement Date Security Description CUSIP Dated Date Coupon/Rate Final Maturity Date Par/Principal ($) Principal Proceeds ($) Accrued
Interest ($)
Total
Cost/Proceeds ($)
Realized G/L -
Cost ($)
Realized G/L -
Amortized Cost ($)
Sale
Method
INTEREST 06/01/2026 06/25/2026 FHMS K524 A2 3137HDV56 07/01/2024 4.720% 05/01/2029 - - $2,104.33 $2,104.33 INTEREST 06/01/2026 06/25/2026 FHMS K505 A2 3137HACX2 07/01/2023 4.819% 06/01/2028 - - $2,650.45 $2,650.45 INTEREST 06/01/2026 06/25/2026 FHMS K084 A2 3137FJZ93 11/01/2018 3.780% 10/01/2028 - - $2,205.00 $2,205.00 INTEREST 06/01/2026 06/25/2026 FHMS K070 A2 3137FCJK1 12/01/2017 3.303% 11/01/2027 - - $963.38 $963.38 INTEREST 06/01/2026 06/25/2026 FHMS K511 A2 3137HB3G7 12/01/2023 4.860% 10/01/2028 - - $2,632.50 $2,632.50 INTEREST 06/01/2026 06/25/2026 FHMS K083 A1 3137FJJV2 11/01/2018 3.944% 07/01/2028 - - $854.63 $854.63 INTEREST 06/01/2026 06/25/2026 FHMS K507 A2 3137HAMS2 09/01/2023 4.800% 09/01/2028 - - $2,600.00 $2,600.00 INTEREST 06/01/2026 06/25/2026 FNA 2023-M6 A2 3136BQDE6 07/01/2023 4.190% 07/01/2028 - - $2,319.72 $2,319.72 INTEREST 06/01/2026 06/25/2026 FHMS K514 A2 3137HBLV4 02/01/2024 4.572% 12/01/2028 - - $2,095.50 $2,095.50 INTEREST 06/03/2026 06/03/2026 HSBC USA INC 40428HR95 06/03/2025 4.650% 06/03/2028 - - $12,206.25 $12,206.25 INTEREST 06/15/2026 06/15/2026 US TREASURY N/B 91282CPP0 12/15/2025 3.500% 12/15/2028 - - $2,712.50 $2,712.50 INTEREST 06/15/2026 06/15/2026 ANALOG DEVICES INC
(CALLABLE) 032654BE4 06/16/2025 4.500% 06/15/2030 - - $11,812.50 $11,812.50 INTEREST 06/25/2026 06/25/2026 FHMS K531 AS
FLOATING 3137HHUP4 12/12/2024 4.179% 09/25/2029 - - $1,634.80 $1,634.80 INTEREST 06/25/2026 06/25/2026 FHMS K519 AS
FLOATING 3137HCKQ4 04/18/2024 4.092% 03/25/2029 - - $2,332.89 $2,332.89 INTEREST 06/25/2026 06/25/2026 FHMS K533 AS
FLOATING 3137HHW31 01/16/2025 4.160% 11/25/2029 - - $1,470.43 $1,470.43 INTEREST 06/25/2026 06/25/2026 FHMS K536 AS
FLOATING 3137HJZZ3 02/27/2025 4.092% 11/25/2029 - - $2,298.91 $2,298.91 INTEREST 06/25/2026 06/25/2026 FHMS K537 AS
FLOATING 3137HKPG3 03/20/2025 4.152% 01/25/2030 - - $1,776.49 $1,776.49 INTEREST 06/25/2026 06/25/2026 FHMS K521 AS
FLOATING 3137HCTM4 05/16/2024 4.150% 03/25/2029 - - $2,322.52 $2,322.52 INTEREST 06/25/2026 06/25/2026 FHMS K535 AS
FLOATING 3137HJSF5 02/13/2025 4.130% 10/25/2029 - - $2,486.82 $2,486.82 INTEREST 06/25/2026 06/25/2026 FHMS K523 AS
FLOATING 3137HDJW1 06/27/2024 4.140% 05/25/2029 - - $2,344.98 $2,344.98 INTEREST 06/25/2026 06/25/2026 FHMS K534 AS
FLOATING 3137HJ5Z6 01/30/2025 4.118% 09/25/2029 - - $1,243.73 $1,243.73 INTEREST 06/30/2026 06/30/2026 US TREASURY N/B 91282CHJ3 06/30/2023 3.750% 06/30/2030 - - $9,187.50 $9,187.50 INTEREST 06/30/2026 06/30/2026 US TREASURY N/B 91282CBB6 12/31/2020 0.625% 12/31/2027 - - $4,375.00 $4,375.00 INTEREST 06/30/2026 06/30/2026 US TREASURY N/B 91282CKX8 07/01/2024 4.250% 06/30/2029 - - $5,312.50 $5,312.50 MATURITY 06/05/2026 06/05/2026 BARCLAYS CAPITAL INC 06743VF54 09/10/2025 0.000% 06/05/2026 $750,000.00 $750,000.00 - $750,000.00 $20,460.00 - PAYDOWNS 06/01/2026 06/25/2026 FHMS K083 A1 3137FJJV2 11/01/2018 3.944% 07/01/2028 $9,240.68 $9,240.68 - $9,240.68 $270.72 $147.30 PAYDOWNS 06/01/2026 06/25/2026 FNA 2023-M6 A2 3136BQDE6 07/01/2023 4.190% 07/01/2028 $49.76 $49.76 - $49.76 $0.30 $0.18 PAYDOWNS 06/01/2026 06/25/2026 FNA 2018-M2 A2 3136B0YM2 02/01/2018 3.026% 01/01/2028 $816.44 $816.44 - $816.44 $23.15 $14.03 PAYDOWNS 06/01/2026 06/25/2026 FHMS KJ47 A1 3137HAMN3 09/01/2023 5.272% 08/01/2028 $1,703.84 $1,703.84 - $1,703.84 ($11.71) ($6.31) PAYDOWNS 06/01/2026 06/25/2026 FHMS KJ46 A1 3137HAD45 07/01/2023 4.777% 06/01/2028 $15,282.79 $15,282.79 - $15,282.79 $125.37 $61.36 PAYDOWNS 06/25/2026 06/25/2026 FHMS K531 AS
FLOATING 3137HHUP4 12/12/2024 4.179% 09/25/2029 $52.24 $52.24 - $52.24 - $0.01

06.2026 Transaction Register page 2 of 3
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 202
Managed Portfolio Transaction Register for June 2026
Transaction
Type Trade Date Settlement Date Security Description CUSIP Dated Date Coupon/Rate Final Maturity Date Par/Principal ($) Principal Proceeds ($) Accrued
Interest ($)
Total
Cost/Proceeds ($)
Realized G/L -
Cost ($)
Realized G/L -
Amortized Cost ($)
Sale
Method
PAYDOWNS 06/25/2026 06/25/2026 FHMS K533 AS
FLOATING 3137HHW31 01/16/2025 4.160% 11/25/2029 $10,230.91 $10,230.91 - $10,230.91 - $2.02 PAYDOWNS 06/25/2026 06/25/2026 FHMS K519 AS
FLOATING 3137HCKQ4 04/18/2024 4.092% 03/25/2029 $266.90 $266.90 - $266.90 - $0.02 PAYDOWNS 06/25/2026 06/25/2026 FHMS K537 AS
FLOATING 3137HKPG3 03/20/2025 4.152% 01/25/2030 $37.03 $37.03 - $37.03 - - PAYDOWNS 06/25/2026 06/25/2026 FHMS K523 AS
FLOATING 3137HDJW1 06/27/2024 4.140% 05/25/2029 $208.43 $208.43 - $208.43 - - PAYDOWNS 06/25/2026 06/25/2026 FHMS K521 AS
FLOATING 3137HCTM4 05/16/2024 4.150% 03/25/2029 $320.61 $320.61 - $320.61 - $0.03 PAYDOWNS 06/25/2026 06/25/2026 FHMS K534 AS
FLOATING 3137HJ5Z6 01/30/2025 4.118% 09/25/2029 $63.47 $63.47 - $63.47 - - PAYDOWNS 06/25/2026 06/25/2026 FHMS K535 AS
FLOATING 3137HJSF5 02/13/2025 4.130% 10/25/2029 $361.07 $361.07 - $361.07 - - PAYDOWNS 06/25/2026 06/25/2026 FHMS K536 AS
FLOATING 3137HJZZ3 02/27/2025 4.092% 11/25/2029 $264.73 $264.73 - $264.73 - ($0.05) SELL 06/01/2026 06/02/2026 US TREASURY N/B 91282CHU8 08/15/2023 4.375% 08/15/2026 $325,000.00 $325,380.86 $4,202.78 $329,583.64 $3,910.16 $632.47 FIFO SELL 06/02/2026 06/03/2026 TOYOTA MOTOR
CREDIT CORP 89236TPQ2 03/13/2026 4.050% 03/13/2029 $530,000.00 $524,938.50 $4,770.00 $529,708.50 ($4,870.70) ($4,885.06) FIFO SELL 06/02/2026 06/03/2026 BLACKROCK INC
(CALLABLE) 09247XAQ4 01/27/2020 2.400% 04/30/2030 $365,000.00 $338,406.10 $803.00 $339,209.10 $3,365.30 ($1,941.12) FIFO SELL 06/03/2026 06/04/2026 US TREASURY N/B 91282CJK8 11/15/2023 4.625% 11/15/2026 $150,000.00 $150,562.50 $377.04 $150,939.54 ($673.83) $364.89 FIFO SELL 06/03/2026 06/04/2026 US TREASURY N/B 91282CLH2 09/03/2024 3.750% 08/31/2026 $510,000.00 $510,000.00 $4,989.13 $514,989.13 $517.97 - FIFO SELL 06/03/2026 06/04/2026 US TREASURY N/B 91282CLH2 09/03/2024 3.750% 08/31/2026 $890,000.00 $890,000.00 $8,706.52 $898,706.52 $6,153.52 - FIFO SELL 06/04/2026 06/05/2026 ADOBE INC (CALLABLE) 00724PAD1 02/03/2020 2.300% 02/01/2030 $260,000.00 $240,585.80 $2,059.78 $242,645.58 ($2,116.40) ($3,450.81) FIFO SELL 06/04/2026 06/05/2026 US TREASURY N/B 91282CJP7 12/15/2023 4.375% 12/15/2026 $510,000.00 $511,753.13 $10,543.27 $522,296.40 ($19.92) $1,290.96 FIFO SELL 06/04/2026 06/05/2026 ADOBE INC (CALLABLE) 00724PAD1 02/03/2020 2.300% 02/01/2030 $220,000.00 $203,572.60 $1,742.89 $205,315.49 ($1,790.80) ($2,919.92) FIFO SELL 06/04/2026 06/05/2026 US TREASURY N/B 91282CJK8 11/15/2023 4.625% 11/15/2026 $1,100,000.00 $1,104,082.03 $2,903.19 $1,106,985.22 ($4,984.37) $2,641.73 FIFO SELL 06/05/2026 06/08/2026 ADOBE INC (CALLABLE) 00724PAD1 02/03/2020 2.300% 02/01/2030 $60,000.00 $55,527.60 $486.83 $56,014.43 ($480.60) ($796.30) FIFO SELL 06/05/2026 06/08/2026 ADOBE INC (CALLABLE) 00724PAD1 02/03/2020 2.300% 02/01/2030 $255,000.00 $235,992.30 $2,069.05 $238,061.35 ($2,050.20) ($3,350.50) FIFO SELL 06/10/2026 06/11/2026 US TREASURY N/B 91282CEM9 05/02/2022 2.875% 04/30/2029 $450,000.00 $434,091.80 $1,476.56 $435,568.36 $3,515.62 ($3,208.49) FIFO SELL 06/10/2026 06/11/2026 US TREASURY N/B 91282CEM9 05/02/2022 2.875% 04/30/2029 $180,000.00 $173,636.72 $590.63 $174,227.35 ($1,125.00) ($2,979.35) FIFO SELL 06/11/2026 06/12/2026 US TREASURY N/B 91282CCE9 06/01/2021 1.250% 05/31/2028 $265,000.00 $251,077.15 $108.61 $251,185.76 ($155.27) ($2,442.38) FIFO SELL 06/11/2026 06/12/2026 US TREASURY N/B 91282CMW8 04/15/2025 3.750% 04/15/2028 $250,000.00 $248,671.88 $1,485.66 $250,157.54 ($29.29) ($152.62) FIFO SELL 06/12/2026 06/15/2026 US TREASURY N/B 91282CKN0 04/30/2024 4.625% 04/30/2031 $425,000.00 $432,337.89 $2,457.03 $434,794.92 ($1,079.10) ($1,036.86) FIFO SELL 06/15/2026 06/16/2026 US TREASURY N/B 91282CKN0 04/30/2024 4.625% 04/30/2031 $555,000.00 $565,341.21 $3,278.35 $568,619.56 ($650.39) ($589.69) FIFO SELL 06/25/2026 06/26/2026 US TREASURY N/B 91282CHX2 08/31/2023 4.375% 08/31/2028 $250,000.00 $251,367.19 $3,507.13 $254,874.32 ($224.61) $427.85 FIFO SELL 06/26/2026 06/29/2026 US TREASURY N/B 91282CNM9 07/15/2025 3.875% 07/15/2028 $500,000.00 $497,812.50 $8,831.15 $506,643.65 $546.88 $484.27 FIFO Total $27,898,898.90 ($10,153,327.66) $51,607.21 ($10,101,720.45) $18,626.80 ($21,692.34)

06.2026 Transaction Register page 3 of 3
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 203
Liquid Portfolio Transaction Register for June 2026
Transaction
Type Trade Date Settlement Date Security Description Par/Principal ($) Accrued Interest ($) BUY 06/12/2026 06/12/2026 CAMP $8,000,000.00 -
INTEREST 06/30/2026 07/01/2026 CAMP - $315,806.58
INTEREST 06/30/2026 07/01/2026 CAMP $18,795.96
INTEREST 06/30/2026 07/15/2026 LAIF $732,588.87
INTEREST 06/25/2026 06/26/2026 RIV CO (TPIF) $25,758.81 SELL 06/18/2026 06/18/2026 CAMP ($3,000,000.00)
Total $5,000,000.00 $1,092,950.22

06.2026 Liquid Transaction page 1 of 1
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 204
Quarterly Investment Summary Report
Palm Desert Housing Authority | Quarter ending June 30, 2026 Overview
The Palm Desert Housing Authority investment activities and staff analysis for the quarter ending June 30, 2026.

Activity
Investment transactions were carried out in accordance with the California Government Code, the City’s Investment Policy, and applicable bond indentures.
• Key highlight 1: Cash was withdrawn from LAIF to cover cashflow needs.

Investment summary
Asset class
Beginning book
value
4/1/2026
(in millions)
Purchases and
deposits
Redemptions
and withdrawals
Ending book
value
6/30/2026
(in millions)
CAMP Pool $0.74 $0.01 $0.00 $.75
LAIF Pool $47.11 $0.82 $(3.50) $44.43
Investments total $47.85 $0.83 $(3.50) $45.18
Cash $4.97 $6.24 $(8.83) $2.38
Grand total $52.82 $7.07 $(12.33) $47.56
Compliance Statement
This investment portfolio is in compliance with California Government Code Section 53601 and the City of Palm Desert investment policy. Barring unforeseen events, the portfolio has sufficient cash to fund City expenditures for the next six months. US Bank Custody Services provided market value prices for all corporate securities, all balances are bank balances, and the percent-of-portfolio calculation on the portfolio summary page omits demand deposits.

John Ramont
Deputy Finance Director
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 7/21/2026
205
PDHA Portfolio Inventory for April 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate Original Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody's
Rating
% of Plan
Assets
State of California Local Agency
Investment Fund LAIF n/a $47,473,254.71 $47,473,254.71 n/a n/a n/a n/a n/a $47,473,254.71 $47,473,254.71 n/a n/a n/a Local Government
Investment Pools CAMP n/a $737,766.60 $737,766.60 n/a n/a n/a n/a n/a $737,766.60 $737,766.60 n/a n/a n/a Total $48,211,021.31 $48,211,021.31 $48,211,021.31 $48,211,021.31 PDHA Portfolio Transaction Register for April 2026
Transaction Type Trade Date Settlement
Date
Security
Description Par / Principal Accrued Interest
INTEREST 04/30/2026 05/01/2026 CAMP $0.00 $2,287.04
INTEREST 04/14/2026 04/15/2026 LAIF $0.00 $362,068.17
Total $0.00 $364,355.21

04.2026 Inventory-Transactions page 1 of 1
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 206
PDHA Portfolio Inventory for May 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody’s
Rating
% of Plan
Assets
State of California Local
Agency Investment Fund LAIF n/a $47,473,254.71 $47,473,254.71 n/a n/a n/a n/a n/a $47,473,254.71 $47,473,254.71 n/a n/a n/a Local Government
Investment Pools CAMP n/a $740,120.36 $740,120.36 n/a n/a n/a n/a n/a $740,120.36 $740,120.36 n/a n/a n/a Total $48,213,375.07 $48,213,375.07 $48,213,375.07 $48,213,375.07 PDHA Portfolio Transaction Register for May 2026
Transaction Type Trade Date Settlement
Date
Security
Description Par/Principal Accrued Interest
INTEREST 05/29/2026 06/01/2026 CAMP - $2,353.76
Total - $2,353.76

05.2026 Inventory-Transactions page 1 of 1
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 207
PDHA Portfolio Inventory for June 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating Moody's Rating % of Plan
Assets
State of California Local
Agency Investment Fund LAIF n/a $44,428,176.83 $44,428,176.83 n/a n/a n/a n/a n/a $44,428,176.83 $44,428,176.83 n/a n/a n/a Local Government
Investment Pools CAMP n/a $742,412.27 $742,412.27 n/a n/a n/a n/a n/a $742,412.27 $742,412.27 n/a n/a n/a Total $45,170,589.10 $45,170,589.10 $45,170,589.10 $45,170,589.10 PDHA Portfolio Transaction Register for June 2026
Transaction Type Trade Date Settlement
Date
Security
Description Par/Principal ($) Accrued Interest ($)
INTEREST 06/30/2026 07/01/2026 CAMP - $2,291.91
INTEREST 06/30/2026 07/15/2026 LAIF $454,922.12
SELL 06/05/2026 06/08/2026 CAMP ($3,500,000.00)
Total ($3,500,000.00) $457,214.03

06.2026 Inventory-Transactions page 1 of 1
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 208
Quarterly Investment Summary Report
RDA Successor Agency | Quarter ending June 30, 2026
Overview
The RDA Successor Agency investment activities and staff analysis for the quarter ending June 30, 2026.

Activity
Investment transactions were carried out in accordance with the California Government Code, the City’s Investment Policy, and applicable bond indentures.

Investment summary
Asset class
Beginning book
value
4/1/2026
Purchases and
deposits
Redemptions
and withdrawals
Ending book value
6/30/2026
CAMP Pool $6,826.08 $64.35 $0.00 $6,890.43
LAIF Pool 848.8 $16.69 $0.00 865.49
County Pool $380.36 $6.98 $0.00 387.34
Investments total $8,055.24 $88.02 $0.00 $8,143.26
Trustee restricted funds $24,615,496.23 $2,091,460.57 $(4,150,437.52) $22,556,519.28 Cash $445,465.06 $9,458,336.00 $(9,498,900.78) $404,900.28 Cash and cash with fiscal
agents total $25,060,961.29 $11,549,796.57 $(13,649,338.30) $22,961,419.56 Grand total $25,069,016.53 $11,549,884.59 $(13,649,338.30) $22,969,562.82 Restricted funds are based on bond indenture terms.

Compliance Statement
This investment portfolio is in compliance with California Government Code Section 53601 and the City of Palm Desert investment policy. Barring unforeseen events, the portfolio has sufficient cash to fund City expenditures for the next six months. US Bank Custody Services provided market value prices for all corporate securities, all balances are bank balances, and the percent-of-portfolio calculation on the portfolio summary page omits demand deposits.

John Ramont
Deputy Finance Director
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 7/21/2026
209
SARDA Portfolio Inventory for April 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate Original Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody's
Rating
% of Plan
Assets
State of California Local Agency
Investment Fund LAIF n/a $857.12 $857.12 n/a n/a n/a n/a n/a $857.12 $857.12 n/a n/a n/a Riverside County Treasurer’s
Pooled Investment Fund (TPIF) Riv Co (TPIF) n/a $384.06 $384.06 n/a n/a n/a n/a n/a $384.06 $384.06 n/a n/a n/a Local Government
Investment Pools CAMP n/a $6,847.31 $6,847.31 n/a n/a n/a n/a n/a $6,847.31 $6,847.31 n/a n/a n/a Total $8,088.49 $8,088.49 $8,088.49 $8,088.49
SARDA Portfolio Transaction Register for April 2026
Transaction Type Trade Date Settlement
Date
Security
Description Par / Principal Accrued Interest
INTEREST 04/30/2026 05/01/2026 CAMP $0.00 $21.23
INTEREST 04/14/2026 04/15/2026 Riv Co (TPIF) $0.00 $0.23 INTEREST 04/24/2026 04/27/2026 LAIF $0.00 $8.37
Total $0.00 $29.83

04.2026 Inventory-Transactions page 1 of 1
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 210
SARDA Portfolio Inventory for May 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating
Moody’s
Rating
% of Plan
Assets
State of California Local
Agency Investment Fund LAIF n/a $857.12 $857.12 n/a n/a n/a n/a n/a $857.12 $857.12 n/a n/a n/a Riverside County
Treasurer’s Pooled
Investment Fund (TPIF)
Riv Co (TPIF) n/a $384.06 $384.06 n/a n/a n/a n/a n/a $384.06 $384.06 n/a n/a n/a Local Government
Investment Pools CAMP n/a $6,869.16 $6,869.16 n/a n/a n/a n/a n/a $6,869.16 $6,869.16 n/a n/a n/a Total $8,110.34 $8,110.34 $8,110.34 $8,110.34
SARDA Portfolio Transaction Register for May 2026
Transaction Type Trade Date Settlement
Date
Security
Description Par/Principal Accrued Interest
INTEREST 05/29/2026 06/01/2026 CAMP - $21.85
Total - $21.85

05.2026 Inventory-Transactions page 1 of 1
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 211
SARDA Portfolio Inventory for June 2026
Security Type Issue CUSIP Par Value Book Value Coupon / Rate
Original
Settlement Date
Final Maturity
Date
Yield at
Cost
Days to
Maturity Market Value Original Cost S&P Rating Moody's Rating % of Plan
Assets
State of California Local
Agency Investment LAIF n/a $865.49 $865.49 n/a n/a n/a n/a n/a $865.49 $865.49 n/a n/a n/a Riverside County
Treasurer’s Pooled Riv Co (TPIF) n/a $387.34 $387.34 n/a n/a n/a n/a n/a $387.34 $387.34 n/a n/a n/a Local Government
Investment Pools CAMP n/a $6,890.43 $6,890.43 n/a n/a n/a n/a n/a $6,890.43 $6,890.43 n/a n/a n/a Total $8,143.26 $8,143.26 $8,143.26 $8,143.26
SARDA Portfolio Transaction Register for June 2026
Transaction Type Trade Date Settlement
Date
Security
Description Par/Principal ($) Accrued Interest ($)
INTEREST 06/30/2026 07/01/2026 CAMP - $21.27
INTEREST 06/30/2026 07/15/2026 LAIF $8.37
INTEREST 06/25/2026 06/26/2026 Riv Co (TPIF) $3.28
Total - $32.92

06.2026 Inventory-Transactions page 1 of 1
Docusign Envelope ID: D6982231-C6EC-8E41-800A-CAAF8E5B5674 212

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City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: Monique Lomeli, Senior Deputy Clerk
Department: City Clerk’s Office
Subject: Acceptance of a Resignation from the Architectural Review Commission Recommendation
Accept the resignation of Nicholas Latkovic from the Architectural Review Commission effective July 8, 2026.

Background
Nicholas Latkovic has served on the Architectural Review Commission since June 21, 2021, with his current term scheduled to end on June 30, 2029. On July 8, 2026, Mr. Latkovic notified the City of his resignation, effective immediately.

Legal Review
This report has been reviewed by the City Attorney’s Office.

Financial Impact
There is no fiscal impact associated with this action.
213

Page 2 ends

1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☐ Yes
☒ No
If yes, identify the project site:

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

Page 1 ends

City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: Monique Lomeli, Senior Deputy Clerk
Department: City Clerk’s Office
Subject: Acceptance of a Resignation from the Historic Preservation Committee Recommendation
Accept the resignation of Rochelle McCune from the Historic Preservation Committee effective July 13, 2026.

Background
Rochelle McCune has served on the Historic Preservation Committee since June 24, 2021, with her current term scheduled to end on June 30, 2029. On July 13, 2026, Ms. McCune notified the City of her resignation, effective immediately.

Legal Review
This report has been reviewed by the City Attorney’s Office.

Financial Impact
There is no fiscal impact associated with this action.
215

Page 2 ends

1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☐ Yes
☒ No
If yes, identify the project site:

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

Page 1 ends

City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: Thomas Soule, Marketing & Tourism Manager
Department: Economic Development
Subject: Approve the Reappointment of Board Members to the El Paseo Parking & Business Improvement District Board
Recommendation

1. Reappoint Rebecca Elliott to the El Paseo Parking & Business Improvement District Board of Directors for a three-year term ending December 31, 2029.

2. Reappoint Mahasti Islami to the El Paseo Parking & Business Improvement District Board of Directors for a three-year term ending December 31, 2029.

Background/Analysis
The El Paseo Parking & Business Improvement District (EPPBID) is governed by a Board of Directors in accordance with the District's bylaws. Board members serve three-year terms and are appointed by the City Council.

Rebecca Elliott and Mahasti Islami are current members of the EPPBID Board of Directors whose terms have expired. Both have indicated their interest in continuing to serve on the Board for an additional three-year term.

Appointed Body Recommendation
At its regular meeting on June 18, 2026, the EPPBID Board of Directors unanimously recommended the reappointment of Rebecca Elliott and Mahasti Islami for three-year terms ending December 31, 2029.

Legal Review
This report has been reviewed by the City Attorney’s Office.

Financial Impact
There is no fiscal impact associated with this action.
217

Page 2 ends

1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☐ Yes
☒ No
If yes, identify the project site:

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

Page 1 ends

City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: Damian Olivares, Senior Deputy Clerk
Department: City Clerk’s Office
Subject: Approve Amendment No. 1 to the Third Amendment and Restatement of the Joint Powers Agreement of the Coachella Valley Association of Governments.

Recommendation

1. Approve Amendment No. 1 to the Third Amendment and Restatement of the Joint Powers Agreement of the Coachella Valley Association of Governments.

2. Authorize the City Manager to execute all documents related to its implementation Background
The Coachella Valley Association of Governments (CVAG) Executive Committee reviewed a request from the Twenty-Nine Palms Band of Mission Indians to amend CVAG’s Joint Powers Agreement to revise who may serve as an alternate representative on the Executive Committee. The proposed amendment would allow Tribal Nations to appoint their highest-level executive or administrative officer as an alternate, provided the appointment is formally approved by resolution of the Tribal Nation’s legislative body.

The amendment also adds language authorizing the CVAG Executive Committee to adopt and amend bylaws governing attendance requirements for Executive Committee members and alternates, including potential consequences for repeated absences. CVAG’s Joint Powers Agreement requires approval by at least two-thirds of the member jurisdictions before the amendment becomes effective.

Legal Review:

This report has been reviewed by the City Attorney’s Office.

Financial Impact
There is no fiscal impact associated with this action.

Attachments

1. Draft Amendment to Agreement with CVAG
219

Page 2 ends

1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☐ Yes
☒ No
If yes, identify the project site:

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

STAFF REPORT
Subject: Request from Twenty-Nine Palms Band of Mission Indians to Amend the CVAG Joint Powers Agreement
Contact: Erica Felci, Deputy Executive Director ([email protected]) Recommendation: Approve Amendment No. 1 to the Third Amendment and Restatement of the Joint Powers Agreement, direct the Executive Director to distribute it to member jurisdictions for approval and, upon two-thirds approval, implement an amendment to the By-Laws to clarify CVAG’s officers must be elected officials
Background: At its April 27, 2026 and June 1 meetings, CVAG’s Executive Committee reviewed a request from Twenty-Nine Palms Band of Mission Indians Chair Darrell Mike to amend CVAG’s Joint Powers Agreement (JPA) in order to revise the alternates who can represent a member jurisdiction at the Executive Committee. The request is to amend the JPA to allow Tribal staff, specifically Chief Executive Officer George Nicholas Jr, to serve as the Tribe’s representative on the Executive Committee. CVAG staff previously provided a number of options for potential JPA revisions, and was directed to come return with language that was more specific to Tribal Nations.

Since CVAG’s inception, JPA member jurisdictions agreed that the Executive Committee would be made up of the mayors of the member jurisdictions or their alternate/designee, so long as they are sitting elected members of the city. All five Riverside County Supervisors were also made members of the Executive Committee. The Third Restatement of the JPA, authorized in 2018, expanded that to include “the Tribal Chair from each Indian Tribe” and noted that “any Indian Tribal Council may appoint one of its current council members in place of the Tribal Chair.” The Twenty-Nine Palms Band of Mission Indians has been a CVAG member since 2021.

The Tribe’s request focuses on Section 2.4.3 of the JPA, which specifies the alternates on CVAG’s Executive Committee. Based on feedback from members, CVAG Legal Counsel has drafted Amendment No. 1 to the Third Amendment and Restatement of the JPA. The amendment includes language that was provided to the Executive Committee at its June 1 meeting. In order to further encourage participation in CVAG meetings, Amendment No. 1 also authorizes the Executive Committee to adopt and amend bylaws governing attendance by Executive Committee members and their alternates at meetings of the Executive Committee. Any such policy would come to the Executive Committee for consideration at a future meeting.

Staff recommends approving Amendment No. 1 and directing the Executive Director to circulate it to member jurisdictions for adoption. Amendment No. 1 would become effective upon approval of twothirds of CVAG’s member jurisdictions. Staff also recommends that, upon the approval, that CVAG’s By-Laws be amended to make it clear that staff alternates on the Executive Committee cannot serve as CVAG’s officers. This will help the agency avoid a scenario where a member jurisdiction’s staff is governing over elected officials. Article II, Section 2B of the By-Laws would be amended as follows:
221
The Executive Committee, as defined in Article III, shall recommend nominees for Chairman and Vice-Chairman. Ordinarily, the Vice-Chairman will succeed the Chairman at the conclusion or his or her term of office. Except as provided below, the nominees shall be rotated among the member agencies in the following order: Agua Caliente Band of Cahuilla Indians, Indio, Cabazon Band of Mission Indians, Torres Martinez Desert Cahuilla Indians, Twenty-Nine Palms Band of Mission Indians, Palm Springs, Coachella, Desert Hot Springs, Rancho Mirage, Riverside County’s Fourth Supervisorial District, Blythe, La Quinta, Palm Desert, Cathedral City, Indian Wells, and Riverside County’s Fifth Supervisorial District. New members will be added last in order to the rotation. The Chairman and Vice-Chairman must be members of their member jurisdiction’s governing body. The jurisdiction next in order to serve as an officer will be passed over and moved to the end of the rotation if its representative or alternative alternate have not attended seventy-five percent or more of the Executive Committee meetings in the previous year. Based on a recommendation of the Administrative/Personnel Committee, the Executive Committee may in making its nominations deviate from the strict rotation set forth above if determined to be in CVAG’s best interests.

As noted in previous reports, JPA amendments and changes requires 15 separate actions at City Council, Tribal Council and Riverside County Board of Supervisors meetings. This lengthy process is part of the reason that CVAG has only amended the JPA on rare occasion in its five decades of existence. Staff will provide an update to the Executive Committee once the two-thirds approval benchmark has been reached.

Fiscal Analysis: There is no fiscal impact to the JPA amendment. Costs related to circulating the amendment would be covered under staff time and expenses for legal services.

Attachment: Amendment No. 1 to the Third Amendment and Restatement of the JPA 222
65285.00001\45116721.1 1
AMENDMENT NO. 1 TO THE THIRD AMENDMENT AND RESTATEMENT OF THE

JOINT POWERS AGREEMENT OF THE COACHELLA VALLEY ASSOCIATION OF

GOVERNMENTS
This Amendment No. 1 to the Third Amendment and Restatement of the Joint Powers Agreement of the Coachella Valley Association of Governments (“Amendment”) is entered into as of __________, 202__, by and among the parties to the Third Amendment and Restatement of the Joint Powers Agreement of the Coachella Valley Association of Governments (“Agreement”).

RECITALS
A. The County of Riverside, City of Coachella, City of Indio, City of La Quinta, City of Indian Wells, City of Palm Desert, City of Rancho Mirage, City of Cathedral City, City of Palm Springs, City of Desert Hot Springs, City of Blythe, Agua Caliente Band of Cahuilla Indians, Cabazon Band of Cahuilla Indians, Torres Martinez Desert Cahuilla Indians, and Twenty-Nine Palms Band of Mission Indians are parties (“Parties”) to that certain Third Amendment and Restatement of the Joint Powers Agreement of the Coachella Valley Association of Governments.

B. The Parties desire to amend certain provisions of the Agreement relating to Executive Committee alternates and Executive Committee attendance requirements.

NOW, THEREFORE, the parties agree as follows:

1. Amendment to Section 2.4.3.

Section 2.4.3 of the Agreement is hereby amended in its entirety to read as follows:

2.4.3 Each participating member on the Executive Committee shall also have an alternate, who must also be a current member of the legislative body of the party such alternate represents, with the exceptions being the alternates to the members representing the County of Riverside, who need not be elected officials, and the alternates of members representing Tribal Nations, who may also be their highest-level executive or administrative officer so long as they are formally appointed by resolution of the Tribal Nation’s legislative body. The name of the alternate members shall be on file with the Executive Committee. An alternate member shall assume all rights and duties of the absent member, to the extent permitted by applicable law.

2. Addition of Section 2.4.6.

A new Section 2.4.6 is hereby added to the Agreement to read as follows:
223
65285.00001\45116721.1 2

2.4.6 The Executive Committee may adopt and amend bylaws governing attendance by Executive Committee members and their alternates at meetings of the Executive Committee. Such bylaws may establish attendance requirements and standards and may provide consequences for repeated absences, including the temporary suspension, deactivation, or loss of voting privileges of an Executive Committee member, provided that any such action is implemented in a manner consistent with applicable law and the terms of this Agreement. The Executive Committee may also establish procedures for restoring voting privileges and determining compliance with attendance requirements.

3. Continuing Effect
Except as expressly amended by this Amendment, all provisions of the Agreement shall remain unchanged and in full force and effect.

4. Execution in Counterparts
This Amendment may be executed on behalf of the respective Parties in one or more counterparts, all of which shall collectively constitute one agreement.

5. Effective Date
This Amendment shall become effective upon approval by at least two-thirds (2/3) of the Parties to the Agreement, as required by Section 6 of the Agreement. The Executive Director of CVAG shall determine and certify the date upon which the required approvals have been obtained, and such date shall constitute the effective date of this Amendment.

IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed by their duly authorized representatives.

City of Blythe City of Cathedral City
By: _______________________ By: _______________________ Date: _____________________ Date: _____________________ City of Coachella City of Desert Hot Springs
By: _______________________ By: _______________________ Date: _____________________ Date: _____________________ 224
65285.00001\45116721.1 3
City of Indian Wells City of Indio
By: _______________________ By: _______________________ Date: _____________________ Date: _____________________ City of La Quinta City of Palm Desert
By: _______________________ By: _______________________ Date: _____________________ Date: _____________________ City of Palm Springs City of Rancho Mirage
By: _______________________ By: _______________________ Date: _____________________ Date: _____________________ County of Riverside Agua Caliente Band of Cahuilla Indians By: _______________________ By: _______________________ Date: _____________________ Date: _____________________ Cabazon Band of Cahuilla Indians Torres Martinez Desert Cahuilla Indians By: _______________________ By: _______________________ Date: _____________________ Date: _____________________ Twenty-Nine Palms Band of Mission Indians
By: _______________________
Date: _____________________
225
226

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City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: Michelle Nance, Assistant City Clerk
Department: City Clerk’s Office
Subject: Resolution Setting the City Council Regular Meeting Schedule for Calendar Year 2027
Recommendation
Adopt a resolution entitled, “A Resolution of the City Council of the City of Palm Desert, California, Setting the City Council Regular Meeting Schedule for the Calendar Year 2027.” Background
Palm Desert Municipal Code Section 2.36.020 authorizes the City Council to adopt a resolution to establish the dates and times for its regular meetings. Staff is seeking City Council confirmation of the 2027 meeting schedule so that staff may proceed with developing the schedule of public hearings and provide ample notice to the public. Additionally, adopting the schedule at this time allows the meeting dates to be incorporated into the City’s annual calendar and other publications prepared well in advance of the new year.

Proposed Cancelled Meetings
Consistent with past practice, staff recommends canceling or rescheduling certain City Council meetings to accommodate the summer recess, recognized holidays, and significant conferences attended by City officials and staff.

Staff recommends canceling the following meetings:
 February 11, 2027: League of California Cities (LOCC) City Managers Conference.  May 27, 2027: International Council of Shopping Centers (ICSC) Conference.  July 22, August 12, and August 26, 2027: Summer recess.  September 23, 2027: League of California Cities (LOCC) Annual Conference.  November 11, and November 25, 2027 (rescheduled): Veterans Day and Thanksgiving holidays.
 December 23, 2027: Winter holidays.

Legal Review
This report has been reviewed by the City Attorney’s Office.

Financial Impact
There is no financial impact associated with this action. 227

Page 2 ends

Attachments

1. Draft Resolution
228

Page 3 ends

1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☐ Yes
☒ No
If yes, identify the project site:

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

Councilmembers should review campaign contributions received within the prior 12 months from parties or participants to the proceeding and must not accept contributions over $500 from those parties for 12 months following the final decision. (Gov. Code § 84308). 229
230
Resolution No. 2026-____
A Resolution of the City Council of the City of Palm Desert, California, Setting the City Council Regular Meeting Schedule for the Calendar Year 2027
Whereas, pursuant to Palm Desert Municipal Code Section 2.36.020, the City Council regular meetings are generally held on the second and fourth Thursday of each month, except as otherwise set by City Council resolution; and Whereas, the City Council desires to confirm its meeting schedule for 2027 as the second and fourth Thursday of each month unless otherwise rescheduled or canceled.

Now, therefore, be it resolved by the City Council of the City of Palm Desert, California, as follows:

Section 1. That the foregoing Recitals are true and correct and are incorporated herein by this reference.

Section 2. Regular City Council Meetings.

Regular meetings of the City Council shall be held in the Council Chamber, located at 73-510 Fred Waring Drive, Palm Desert, California, on the second and fourth Thursday of each month at the hour of 4:00 p.m. When a regular meeting falls on a legal holiday, the meeting shall be held on the following day unless otherwise determined by the City Council at a regular meeting.

Section 3. Related Governing Bodies.

Regular meetings of the City Council acting as the governing boards of the Successor Agency to the Palm Desert Redevelopment Agency, the Palm Desert Housing Authority, the Palm Desert Financing Authority, and/or the Palm Desert Library Board of Trustees shall be held in the Council Chamber, located at 73-510 Fred Waring Drive, Palm Desert, California, concurrently with the regular City Council meeting.

Section 4. Closed Sessions.

Closed sessions of the City Council and/or the governing boards as provided in this Resolution may be conducted prior to the 4:00 p.m. business portion of regular meetings and as noticed from time to time on the agenda for such meetings. The time scheduled will depend upon the number of items to be considered and the complexity of the issues to be discussed. If necessary, closed sessions not completed prior to the business portion of the meeting may be considered at the conclusion of the business 231
Resolution No. 2026-____ Page 2
portion of the meeting or as otherwise determined by the City Council.

Section 5. Cancellations or Rescheduling.

The City Council has canceled and/or rescheduled certain meetings as outlined in “Exhibit A” attached hereto and incorporated herein by this reference.

Adopted on __________________.

Evan Trubee
Mayor
ATTEST:

Anthony J. Mejia
City Clerk
I, Anthony J. Mejia, City Clerk of the City of Palm Desert, hereby certify that Resolution No. 2026-__ is a full, true, and correct copy, and was duly adopted at a regular meeting of the City Council of the City of Palm Desert on _______________________, by the following vote:

Ayes:

Noes:

Absent:

Abstain:

Recused:

In witness whereof, I have hereunto set my hand and affixed the official seal of the City of Palm Desert, California, on ___________________.

Anthony J. Mejia
City Clerk
232
Resolution No. 2026-____ Page 3
Exhibit A
City of Palm Desert
2027 City Council Meeting Dates
The City Council meetings are typically held on the second and fourth Thursday of each month at 4:00 p.m. in the Council Chamber, located at 73 -510 Fred Waring Drive, Palm Desert, California. This schedule is subject to change.

Meeting Dates Notes
January 14, 2027
January 28, 2027
February 11, 2027 Cancel (Annual Conference)
February 25, 2027
March 11, 2027
March 25, 2027
April 8, 2027
April 22, 2027
May 13, 2027
May 27, 2027 Cancel (Annual Conference)
June 10, 2027
June 24, 2027
July 8, 2027
July 22, 2027 Cancel (summer recess)
August 12, 2027 Cancel (summer recess)
August 26, 2027 Cancel (summer recess)
September 9, 2027
September 23, 2027 Cancel (Annual Conference)
October 14, 2027
October 28, 2027
November 11, 2027 Rescheduled (Veterans Day
Holiday)
November 18, 2027
November 25, 2027 Cancel (Thanksgiving Holiday)
December 9, 2027
December 23, 2027 Cancel (Winter Holidays)
January 13, 2028
233
234

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City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: Michelle Nance, Assistant City Clerk
Department: City Clerk’s Office
Subject: Adoption of Ordinance No. 1455, Approving a Fourth Amendment to Development Agreement 96-1 for Desert Willow Westin to Extend the Agreement Term and Find the Project Exempt from CEQA
Recommendation
Adopt Ordinance No. 1455 entitled “An Ordinance of the City Council of the City of Palm Desert, California, Approving a Fourth Amendment to the Development Agreement 96-1 between the City of Palm Desert and WVC Rancho Mirage, Inc. (Formerly Starwood) for Desert Willow Westin, Extending the Term of the Development Agreement and Finding the Project is Exempt from Environmental Review in Accordance with the California Environmental Quality Act.”
Background
On July 9, 2026, the City Council introduced Ordinance No. 1455 for first reading. This report provides for the City Council to waive further reading and adopt the ordinance. The ordinance shall be effective 30 days from adoption.

Financial Impact
There is no direct financial impact with this action.

Attachments

1. Ordinance No. 1455
235

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1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☒ Yes
☐ No
If yes, identify the project site: Desert Willow Weston, located within the Desert Willow Golf Resort, on a portion of Lot 9 of Tract 28451, north of Country Club Drive and east of Portola Avenue.

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

2. SB 1439 / Gov. Code § 84308 Applicability (Campaign Contributions) Does this item involve a license, permit, other entitlement for use, or a contract or franchise agreement that is not competitively bid, a labor agreement, or a personal employment contract?
☒ Yes
☐ No
If yes, identify the applicant(s), appellant(s), party, or participant(s): WVC Rancho Mirage, Inc.

Councilmembers should review campaign contributions received within the prior 12 months from parties or participants to the proceeding and must not accept contributions over $500 from those parties for 12 months following the final decision. (Gov. Code § 84308). 236
Ordinance No. 1455
An Ordinance of the City Council of the City of Palm Desert, California, approving a Fourth Amendment to the Development Agreement 96-1 between the City of Palm Desert and WVC Rancho Mirage, Inc. (formerly Starwood) for Desert Willow Westin, extending the term of the Development Agreement and finding the project is exempt from environmental review in accordance with the California Environmental Quality Act.

City Attorney’s Summary
This Ordinance approves the Fourth Amendment to Development Agreement No. 96-1 between the City of Palm Desert and WVC Rancho Mirage, Inc. (formerly Starwood) for the Desert Willow Westin Resort timeshare project. The Fourth Amendment extends the term of the existing Development Agreement from August 27, 2026, to February 27, 2027, and does not authorize any changes to the approved land uses, development intensity, entitlements, or physical development of the Project.

The Ordinance finds that the Fourth Amendment is consistent with the Palm Desert General Plan and complies with the requirements of Government Code Sections 65864 through 65869.5. The City Council further determines that the amendment is exempt from environmental review under the California Environmental Quality Act (CEQA) because it does not constitute a project requiring review and, alternatively, qualifies for the common sense exemption pursuant to CEQA Guidelines Section 15061(b)(3), as there is no possibility the amendment may result in a significant effect on the environment.

Whereas, the City of Palm Desert, California ("City") is a municipal corporation, duly organized under the constitution and laws of the State of California; and Whereas, the Planning and Zoning Law (Government Code Section 65000 et seq.) authorizes cities to establish by ordinance regulations for land use and development; and
Whereas, WVC Rancho Mirage, Inc. (formerly Starwood), represented by William Vanos (“Applicant”), submitted an application requesting approval of a Fourth Amendment to Development Agreement No. 96-1, which governs the Desert Willow area, a resort time-share project located within the Desert Willow Golf Resort, on a portion of Lot 9 of Tract 28451, north of Country Club Drive and east of Portola Avenue (“Project”), for the purpose of extending the term of the existing Development Agreement to August 27, 2026, with minor modifications to the Development Agreement; and
237
Ordinance No. 1455 Page 2
Whereas, the project was approved through Precise Plan/Conditional Use Permit No. 06-17 and Tentative Tract Map No. 35426, which authorized development of the Desert Willow Westin project, formerly known as the Starwood property, within the City of Palm Desert; and
Whereas, the approved project consists of approximately 300 timeshare units, of which 220 units have been completed, with 80 approved units remaining to be constructed within the final five approved buildings; and Whereas, the Project Site is located within the Planned Residential District (PR5) zoning district and is designated Golf Course & Resort Neighborhood by the Palm Desert General Plan; and
Whereas, the applicant, WVC Rancho Mirage, Inc., is requesting approval of a Fourth Amendment to Development Agreement No. 96-1 to extend the term of the agreement and provide additional time to complete the remaining approved units in accordance with the established development milestones; and Whereas, Development Agreement No. 96-1 was entered into between the City of Palm Desert and WVC Rancho Mirage, Inc. (formerly Starwood) on February 27, 1997, and was adopted by the City Council through Ordinance No. 824 for an initial term of fifteen (15) years; and
Whereas, the Development Agreement was amended by a First Amendment in 2007 through Ordinance No. 1135, extending the term by four (4) years, and by a Second Amendment in 2015 through Ordinance No. 1289, extending the term an additional ten (10) years to February 27, 2026; and by a Third Amendment in 2026 through Ordinance No. 1442, extending the term an additional six (6) months to August 27, 2026; and
Whereas, the proposed Fourth Amendment would further extend the term of Development Agreement No. 96-1 to February 27, 2027, and would not authorize or result in any changes to land use, development intensity, entitlements, or physical conditions on the Project Site; and
Whereas, the Fourth Amendment does not constitute a “project” under the California Environmental Quality Act (CEQA) and alternatively is exempt from CEQA pursuant to the commonsense exemption set forth in CEQA Guidelines Section 15061(b)(3), as it can be seen with certainty that there is no possibility the action may have a significant effect on the environment; and
Whereas, on July 7, 2026, the Planning Commission held a duly noticed public hearing to consider the proposed Ordinance, received and considered the staff report, recommendations by staff, and public testimony concerning the proposed Fourth Amendment to Development Agreement No. 96-1, and thereafter recommended approval of the proposed Ordinance to the City Council; and 238
Ordinance No. 1455 Page 3
Whereas, the City Council finds that the Development Agreement, as amended, remains consistent with the City’s General Plan and complies with the requirements of Government Code Sections 65864 through 65869.5; and
Whereas, all legal prerequisites to the adoption of the Ordinance have occurred.

The City Council of the City of Palm Desert does hereby ordain as follows:

Section 1. Incorporation.

That the foregoing Recitals are true and correct and are incorporated herein by this reference.

Section 2. CEQA.

The City Council finds that the proposed amendment extends the term of the existing Development Agreement and does not result in any direct physical change or a reasonably foreseeable indirect physical change to the environment. As such, the City Council finds that the proposed amendment is not a "Project" as defined by State CEQA Guidelines section 15378(a). Even if the proposed amendment constituted as a project pursuant to the California Environmental Quality Act (CEQA), the City Council finds the proposed amendment is exempt from further CEQA review pursuant to the State CEQA Guidelines Section 15061(b)(3) the commonsense exemption. Here, it can be seen with certainty that there is no possibility that the activity may have a significant effect on the environment since the proposed amendment merely extends the term of the Development Agreement and does not involve any physical change in the environment.

Therefore, no additional environmental review is required.

Section 3. Findings.

The City Council finds that Development Agreement No. 96-1, as amended, remains consistent with the Palm Desert General Plan. These findings are made pursuant to Government Code Sections 65867.5 and 65868.

Section 4. Approval of the Fourth Amendment.

The City Council hereby approves the Fourth Amendment to Development Agreement No. 96-1 between the City of Palm Desert and WVC Rancho Mirage, Inc. (formerly Starwood), extending the term of the Development Agreement to February 27, 2036, in substantially the form on file with the City Clerk.

Section 5. Effective Date.

This Ordinance takes effect 30 days after its adoption.

Section 6. Publication.

The City Clerk is directed to certify the adoption of this Ordinance and post or publish a summary of this Ordinance as required by law.
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Ordinance No. 1455 Page 4
Section 7. Custodian of Records.

The custodian of records for this Ordinance is the City Clerk and the records comprising the administrative record are located at 73-510 Fred Waring Drive, Palm Desert, CA.

Section 8. Severability.

If any provision of this Ordinance or its application to any person or circumstance is held to be invalid by a court of competent jurisdiction, such invalidity shall have no effect on the other provisions or applications of this Ordinance that can be given effect without the invalid provision or application. To this extent, the provisions of this Ordinance are severable. The City Council declares that it would have adopted this Ordinance irrespective of the invalidity of any portion thereof.

Adopted on __________________.

Evan Trubee
Mayor
ATTEST:

Anthony J. Mejia
City Clerk
I, Anthony J. Mejia, City Clerk of the City of Palm Desert, California, do hereby certify that Ordinance No. 1455 is a full, true, and correct copy, and was introduced at a regular meeting of the Palm Desert City Council on July 9, 2026. and adopted at a regular meeting of the City Council held on ______________, by the following vote:

Ayes:

Noes:

Absent:

Abstain:

Recused:

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Palm Desert, California, on ____________________.

Anthony J. Mejia
City Clerk
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City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: Angelique Hodges, Management Analyst
Department: Library Services
Subject: Fiscal Year 2025-26 Library Services Annual Report Recommendation
Receive and file the Fiscal Year 2025-26 Annual Report on Library Operations, summarizing the Palm Desert Library’s second year of service delivery under City management.

Background
The City assumed direct operation of the Palm Desert Library from the Riverside County Library System effective July 1, 2024. This report covers the second full fiscal year of City-run operations. With the foundational systems, staffing, and procedures established during its first year now in place, Library Services has been able to shift its focus toward expanding programming and deepening community engagement.

This attached report provides a detailed overview of Library operations for year two, including, circulation activity and collection growth, patron registration and usage trends, and programming, events, and community engagement activities offered at the library; Building on the strong foundation established in its first two years, Library Services enters its third year of City operation, well positioned for continued growth.

This report is being presented to the City Council for informational purposes. No formal action beyond receiving and filing the report is required at this time.

Legal Review
This report has been reviewed by the City Attorney’s Office.

Financial Impact
There is no fiscal impact associated with this report.

Attachments

1. Fiscal Year 2025-26 Library Annual Report
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1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☐ Yes
☒ No
If yes, identify the project site:

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

PALM DESERT LIBRARY
Annual Report
Fiscal Year 2025–26
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BACKGROUND
This report will provide updates on Library Services and will include data and workplans for Fiscal Year (FY) 2025-26.

The Palm Desert Library has completed the second year of operations. The Library was open 346 days, 2,834 operational hours in the fiscal year. The staffing of the library was increased with a reallocation of positions and an increase in funding for a total of 21 employees with 12 part-time staff. Increasing volunteer opportunities was a priority this year and there was an 89% increase in volunteer hours over the previous fiscal year. In partnership with Riverside County the Library served as a cooling and warming center and a voting location. With the increase in library staffing, the library was able to dedicate more time to increase the marketing and social media presence utilizing Facebook, Instagram, a weekly digital newsletter, seasonal pamphlets and flyers which has helped increase the number of visitors to the library, check-out of books and attendance at events. The Library continues to be a valuable resource for the community as a place to gather, connect and learn.

Positions Staff Count
Director 1
Manager 2
Management Analyst 1
Librarian I/II 4
Library Assistant (FT) 1
Library Assistant (PT) 12
Total 21
Volunteers FY 24-25 FY 25-26 Change
Volunteer Hours 1,904.75 3,600.75 +89.0%
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Vision
A Palm Desert where everyone belongs and is filled with promise, progress, play, and prosperity.

Mission
The Palm Desert Library nurtures community well-being through social, cultural, and learning experience.

We Value
Curiosity Discovery Exploration Imagination Health &
Happiness
Strategic Initiatives
Create a welcoming and
inclusive environment to
foster connections and a sense
of belonging for the
community.

Enhance connection and
collaboration among
organizations, community
groups and individuals.

Celebrate pride in both
individual and community
identities while embracing
Palm Desert's arts and culture.

Assist patrons to meet their
economic, financial, and
career goals.

Provide the resources and
platforms for youth and family
development.

Foster literacies as the basis of
an individual's ability to
participate fully in society.

Library Usage FY 24-25 FY 25-26 Change
Library Visitors 110,909 117,892 +6.3%
Total Library Card Holders 12,992 20,849 +60.5%
Hours Open 2,954.5 2,834 -4.1%
Days Open 352 346 -1.7%
Website Visits 147,755 221,814 +50.1%
Website Users 36,688 75,265 +105.1%
Internet Sessions 8,978 9,660 +7.6%
Facebook Followers 214 554 +158.9%
Instagram Followers 499 1,462 +193.0%

LIBRARY VISION, MISSION, AND VALUES
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2025-2026 SERVICE PRIORITIES
As part of the Library's ongoing efforts to align operations with the City and Library's mission, vision and values, the Library focused on three strategic objectives. Customer Service, Community Programs, and Community Partnerships.

The Library continued to prioritize customer service as a foundational pillar of our operations, ensuring all community members experience consistent, high-quality interactions and timely service.

Fundamental to Customer Service is a trusted and interesting collection.

A 2024-25 key performance indicator for excellent customer service was wait time for digital or physical books. In 2024-25 the Library goal was to have patrons wait less than 7 days and the average wait time was 13 days. This increase is due to an increase in usage of the library by the community which outpaced the library materials available. This performance indicator is complex – with exponential growth across every area, our wait time increased. The baseline was established in 2024- 25, as the budget for purchasing books is a large factor in meeting this goal and the budget did not increase with the rise in circulation, promotion and educational assistance on Libby has increased.

Physical and Digital Collections
Our collection strategy remains dynamic, focused on quality, accessibility, and relevance to evolving community interests and educational needs. Palm Desert is a reading community. The Library strives to provide the community with new and best-selling titles with a reliable catalog, and to fulfill patron requests and provide access to a large consortium of materials to meet the needs of the community.

The rebuilding of the collection will continue with the purchase of core subjects and the deaccession of outdated and damaged materials.

Customer Service
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Collections FY 24-25 FY 25-26 Change
Physical Items Checked Out 177,523 212,706 +19.8%
Physical Item Holds 5,865 5,286 -9.9%
Avg. Physical Hold Wait (days) 9.87 9.60 -2.7%
Digital Check Out (ebook/e-audio) 17,673 26,695 +51.1%
Digital Holds 5,658 14,247 +151.8%
Avg. Digital Hold Wait (days) 17.0 24.1 +41.6%
Link+ Fulfilled (outgoing) 1,107 1,428 +29.0%
Link+ Requested (incoming) 2,539 5,519 +117.4%
Laptop Checkouts 7,784 9,114 +17.1%
Total Circulation 200,431 239,401 +19.4%
E-Resources FY 24-25 FY 25-26 Change
Overdrive Checkouts (Libby) 13,612 26,695 +96.1%
Freegal Downloads/Streams 6,288 21,392 +240.2%
Freading Checkouts 109 237 +117.4%
Wowbrary Active Subscribers 6,844 8,295 +21.2%
Rocket Languages Sessions 242 506 +109.1%
Pressreader Articles Opened 104,105 325,299 +212.5%
HelpNow Total Usage 476 362 -23.9%
TumbleBook Views 248 156 -37.1%
Library Speakers Consortium Views 1,128 940 -16.7%
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The Library's programmatic efforts remain closely aligned with strategic goals, emphasizing community engagement and service impact. Th Library continued to host author talks, crafts, afterschool programs, storytimes, and community events. One area of program development was focused on technical assistance. In FY 2025-26 the Library piloted varying Tech Tutor type programs, offering different learning formats and more accessible program times throughout the week.

Programming FY 24-25 FY 25-26 Change
Early Learning (0-5) Programs / Attendance 176 / 2,707 171 / 2,752 -2.8% / +1.7%
Children's (6-11) Programs / Attendance 151 / 2,884 153 / 3,502 +1.3% / +21.4%
Young Adult (12-18) Programs / Attendance 97 / 931 118 / 1,166 +21.6% / +25.2%
Adult (19+) Programs / Attendance 210 / 4,549 302 / 5,810 +43.8% / +27.7%
Community Programs
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6 | Page
Program Spotlight
Technology Assistance
• Tech Tutor for Seniors – in FY 2025-26 the Library provided 144 appointments. This program provides one-on-one help building basic tech skills, which can include guidance on platforms like Facebook. This program is delivered by volunteers.
• Tech Tutor for Seniors Job Seekers (Launched June 2026) – this program provides focused support for older adults navigating technology in their job search. To date 24 appointments have been offered. This program is delivered by an Intern through the College of the Desert Intern Program.
• E-resource Assistance – Staff identified a need to formally provide technical assistance about Library e-Resources to patrons. In FY 2025-26 the Library piloted classes to provide technical assistance for Libby, PressReader, and Cloud Library. Based on learning from the pilot, in FY 2026- 27 the Library will expand with a Kanopy introduction and a three-part Libby series progressing from beginner to advanced. These programs are twofold, they offer direct support on using our online resources and they teach related skills to login, password management, and navigating the internet.
• Looking ahead - starting in September 2026, the Library will host Monthly drop-in sessions modeled after Apple's "Today at Apple" format, these will introduce a new approach to tech help, allowing for another format for patrons to receive information and technical assistance.

The Summer Reading Program
A flagship City program. The Summer Reading Program engaged participants through goal setting, incentives, and community partnerships. 719 community members participated by setting personal reading goals, attending events, and tracking their reading. The library offered weekly live performances, featuring puppet shows, musical acts, live animal presentations, interactive dance, storytelling, and drum circles. 1,440 weekly grab-and-go craft kits were given away and over 1,200 books were provided as prizes to build home libraries. During the Summer Reading Program the Library delivered 125 programs with 3,279 in attendance. Reading incentives were provided by Del Taco Palm Desert for free taco vouchers, Islands Palm Desert for a free kids meal, the Palm Desert Aquatic Center for free entrance, and the Coachella Valley Firebirds provided three four-ticket vouchers as end of the year raffle prizes.
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7 | Page
719
Participants
community members
125
Programs Delivered
3,279 in attendance
1,440
Craft Kits Given
grab-and-go
The multi-week program had several goals:
• Promote literacy and the joy of reading
• Encourage strong reading habits
• Make reading and learning resources easy to access for everyone • Connect programs and activities to reading and lifelong learning • Foster community and a sense of belonging in Palm Desert • Help build home libraries through book giveaways
Writing Workshops
Three opportunities are offered for patrons to strengthen their writing skills. Twice monthly the Poet's Oasis Workshop and the Coachella Valley Writers Workshop meet to discuss and critique personal writing. Poet's Oasis meets every other Wednesday and is led by the City's Poet laureate, Lori Davis.

The average attendance for Poet's Oasis is 19. The Coachella Valley Writers Group, led by Susan Reike, a local retired teacher, meets every other Friday with an average of 10 attendees. The Santa Rosa Writers Workshop Series was offered twice monthly to teens with 16 attendees over 3 months and is led by local writer, Sergio Brito.
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8 | Page

COMMUNITY PARTNERSHIPS
The Library identified Community Partnerships as a Service Priority because meaningful collaboration multiplies our impact far beyond what any single institution can achieve alone. Strategic partnerships allow us to amplify awareness of library programs, services, and spaces, reaching residents who might not otherwise know what the library offers. Just as importantly, partnership development strengthens the fabric of our community, maximizing shared resources, capacity, and subject-matter expertise in ways that benefit everyone involved.

This priority guided us toward partners who share our commitment to early literacy, lifelong learning for older adults, educational access, and support for historically underserved communities. By working alongside organizations that bring deep, specialized knowledge in these areas, the library extends its reach and relevance, ensuring that families with young children, adults pursuing continued education, students, and communities who have too often been overlooked all see themselves reflected in what the library provides.

Key Partnerships
Learning in Retirement
The library's partnership with the nonprofit Learning in Retirement built on the organization's established continuing-education model for older adults, pairing it with the library's patron base, space, and promotional reach to expand access and deepen impact across the community.

The Coachella Valley Firebirds
The Coachella Valley Firebirds' commitment to early literacy as part of their social responsibility platform made them a natural partner for the library. Combined with the team's broad popularity across the Coachella Valley, the partnership became a powerful vehicle for advancing a shared goal:
getting children reading at an early age.

Olive Crest
Clients of Olive Crest have often experienced violence or unsafe situations that can prevent them from accessing basic services, such as those a public library provides. Combined with transportation barriers, this made Olive Crest an obvious focus, as this demographic has historically been overlooked. By participating in their monthly 'Community Days', a resource-fair-style event where the library comes to them, we've made meaningful connections and exposed clients to the library's full range of programs and services.
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9 | Page
Educational Community
Public libraries have long supported the educational community's curriculum, playing a significant role in meeting student and parent needs. From recreational reading to in-depth research assistance, the public library has remained relevant in the educational community. We have also put this relationship into practice by fostering active communication with schools, promoting library card acquisition, and collaborating with city and school partners to expose students to what it means to be active, engaged citizens.

The City of Palm Desert continues to take a balanced and responsible approach to funding essential community services. The Palm Desert Library is operationally supported by local property tax revenue and the general fund.

The City Council approved budget for FY2025/2026 was $2,468,469, with $1,706,867 for personnel and $761,602 for operations. Of the operations budget, $305,700 was allocated for collections, such as digital resources and materials, while $455,902 covered professional services, software, and maintenance costs. The library successfully operated within this budget for the fiscal year. Additional funding sources include grants and donations, listed below.

Grant Administration
In 2025-26 the Library was awarded $29,552 in grant funds as well as other grants that provided reading incentives and equipment. Grant funding supports the library's mission through supplemental funding for library programs as well as staff professional development opportunities. In 2026-27, a goal for the library is to actively pursue available grant funding opportunities to support innovative programs, expand resources, the new facility, and enhance community services.

Financial Overview
252
10 | Page
Program Grantor Amount
Adult Literacy Collection Desert Community Foundation $12,592 ZipBooks California State Library $12,160.00
Summer Reading Program Literacy Society of the Desert $2,300.00 Day of Racial Healing American Library Association $2,000.00 STEM Education Science Across America $500.00
In N Out In N Out 250 gift cards
Pokémon American Library Association Equipment
Light table, three sewing
machines, and a Privacy Pod
Southern California Library
Collaborative
Equipment
Two telescopes Unistellar Equipment
Friends of the Library
The Palm Desert Friends of the Library is a nonprofit organization that supports the library through active fundraising, advocacy, volunteer involvement, and community engagement. This is made possible by the sale of book donations that they sell to the public, and whose proceeds go to subsidize library programs and services. The Friends help enhance programs, collections, special projects, and other resources that complement the Library's publicly funded operations and enrich the experience of Palm Desert residents.

In FY 2025-26 the Friends provided $38,000 to programs like the Summer Reading Program, Adult Education, Book Clubs, and more.

Palm Desert Library Fund
The Palm Desert Library accepts monetary donations to the Palm Desert Library Fund through Desert Community Foundation (501c3) to support programs, services, and ongoing community initiatives.

In FY 2026-27, the Library service priorities will focus on increasing Digital Literacy and Community Education,
assessing and improving Accessibility, continued
improvement to the library collection, and build a local author portfolio and speakers' series.

Looking Ahead
253
254

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City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: Cesar Lopez, Senior Engineer
Department: Development Services
Subject: Release the Faithful Performance and Labor and Materials Bond and Accept the Maintenance Bond for Tract Map 37993, Located Northeast of Portola Avenue and Julie Lane
Recommendation

1. Accept the public improvements for Tract Map 37993, commonly known as Montage, shown on Street Improvement Plan ST21-0001.

2. Release the Faithful Performance Bond in the amount of $144,408.20.

3. Release the Labor and Materials Bond in the amount of $72,204.10.

4. Release the Monumentation Cash Bond in the amount of $32,000.

5. Accept the Maintenance Bond in the amount of $144,408.20.

Executive Summary
The City Council approved a 63-unit single-family development by GHA Montage P.D., LLC in 2021. Required performance, labor, and grading bonds were posted to secure public improvements. Following project completion, the Grading Bond was released, and the remaining bonds were reduced by 90% in 2023.

Public Works has confirmed that all improvements are complete and certified, with record drawings on file. Staff recommends releasing the remaining bonds totaling $216,612.30. A Maintenance Bond of $144,408.20 has been provided to ensure a one-year maintenance period in compliance with municipal code.

Background
On June 10, 2021, the City Council approved, by Resolution No. 2021-34, a request by GHA Montage P.D., LLC to construct 63 single-family homes located at the intersection of Julie Lane and Shepherd Lane.

At the time of Final Tract Map approval, the developer submitted a Faithful Performance Bond in the amount of $1,444,082 and a Labor and Materials Bond in the amount of $722,041 to guarantee the completion of the required public improvements, including street improvements, storm drain facilities, traffic signal modifications, and striping. The developer additionally provided a monumentation cash bond in the amount of $32,000. A separate Grading Bond in the amount of $186,906 was also submitted.
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On August 24, 2023, the City Council approved the release of the Grading Bond and authorized a ninety percent (90%) reduction of the Faithful Performance and Labor and Materials Bonds. As a result, the bond amounts were reduced to $144,408.20 for Faithful Performance and $72,204.10 for Labor and Materials.

Public Works has verified that the required public improvements have been completed.

Additionally, the Engineer of Record has submitted the letter of certification verifying the completion of improvements. A record drawing of the improvements is on file with the Development Services Department under ST21-0001. Therefore, staff recommends the release of the remaining Faithful Performance Bond in the amount of $144,408.20 and the remaining Labor and Materials Bond in the amount of $72,204.10, and the Monumentation Cash Bond in the amount of $32,000.

Pursuant to Palm Desert Municipal Code Section 26.28.140, a Maintenance Bond equal to ten percent (10%) of the improvement security is required for a period of one year following acceptance of the public improvements. The developer has submitted a Maintenance Bond in the amount of $144,408.20 to satisfy this requirement.

Legal Review
This report has been reviewed by the City Attorney’s Office.

Financial Impact
There is no immediate fiscal impact associated with this action. Upon expiration and release of the maintenance bond, the City will assume responsibility for the maintenance of the accepted public improvements.

Attachments

1. Vicinity Map

2. Maintenance Bond

3. Faithful Performance Bond

4. Labor and Materials Bond

5. Bond Release Form

6. Monumentation Cash Bond Receipt
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1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☒ Yes
☐ No
If yes, identify the project site: Tract Map 37993, Located Northeast of Portola Avenue and Julie Lane. If an official has real property near Tract Map 37993 / Montage or the related public improvements, please contact the City Attorney for additional analysis.

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

2. SB 1439 / Gov. Code § 84308 Applicability (Campaign Contributions) Does this item involve a license, permit, other entitlement for use, or a contract or franchise agreement that is not competitively bid, a labor agreement, or a personal employment contract?
☒ Yes
☐ No
If yes, identify the party: GHA Montage P.D., LLC, its principals, qualifying agents, or any qualifying participant.

CITY OF PALM DESERT
Land Development and Public Works Department

BOND RELEASE AUTHORIZATION FORM
Project Name: Montage
Project Address: 75649 Montage Parkway
Tract/Parcel Map No.: Tract Map 37993
Developer: GHA Enterprises Inc.

Bond Type: Performance Bond & Payment Bond
Bond Number: No. 440247
Bond Amount: $144,408.20 & $72,204.10
All required improvements associated with the above-referenced project have been completed in accordance with approved plans and applicable City standards. All departments have provided clearance for bond release. It is recommended that the bond be released.

Public Works/CIP Director Deputy Director Development Services City Engineer Signature: ____________________ Signature: _________ Signature: ____________________ Name: ____________________ Name: _Carlos Flores____________ Name: ____________________ Date: ____________________ Date: ____6/29/2026_____________ Date: ____________________ Casey Arndt
06/25/2026
Timothy R. Jonasson, PE
6-26-26
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280
281
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City of Palm Desert Staff Report
Meeting Date: August 20, 2026
Prepared By: David Reyes, Public Works Superintendent
Department: Public Works
Subject: Approve Amendment No. 1 to Contract No. C45130 with M & M Sweeping, Inc. for Citywide Street and Parking Lot Sweeping Services (Project No. MST00010) Recommendation

1. Approve Amendment No. 1 to Contract No. C45130 with M & M Sweeping, Inc. to extend the contract term; add the Technology Drive extension to the regular sweeping service area; and increase annual base compensation to $270,000, subject to CPI increase.

2. Authorize the City Attorney to make non-monetary changes to the change orders and amendments as deemed necessary.

3. Authorize the City Manager to execute the amendment, the optional one-year extensions, Consumer Price Index (CPI) increase, and any documents necessary to effectuate the actions taken herewith.

Executive Summary
On April 27, 2023, the City Council awarded Contract No. C45130 to M & M Sweeping, Inc. for Citywide Street Sweeping Services. The agreement established an annual base amount of $230,917, plus annual authorization of up to $25,000 for as-needed extra sweeping services.

The initial term was July 1, 2023, through June 30, 2026, with two optional one-year extensions.

The term of the contract expired June 30, 2026. Amendment No. 1 would exercise first of the two one-year extensions options, extending the term through June 30, 2027, adding the Technology Drive extension to the regular sweeping service area, and increasing annual base compensation from $252,000 to $270,000. The $18,000 increase includes a $16,800 negotiated adjustment for existing services and $1,200 for Technology Drive. City Council approval is required when increasing the total contract amount.

Background
The Citywide Sweeping Program includes scheduled sweeping of commercial and residential streets and City-owned parking lots. These services support public cleanliness, debris removal, stormwater pollution prevention, and air quality compliance.

On April 27, 2023, Contract No. 45130 was awarded to M & M Sweeping, Inc. in the amount of $230,917. In Fiscal Year 2024-25, Change Order No. 1 increased annual base compensation by $10,283, from $230,917 to $241,200, and on July 10, 2025, the City Council approved Change Order No. 2, increasing annual base compensation by $10,800, from $241,200 to 283

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$252,000 for Fiscal Year 2025-26. The annual authorization of up to $25,000 for as-needed extra sweeping services remained unchanged.

The initial contract term ended June 30, 2026. Amendment No. 1 would exercise the first oneyear extension for the period of July 1, 2026, through June 30, 2027. One optional one-year extension would remain available under the agreement, along with initial approval of $25,000 for as-needed additional sweeping services.

The original scope recognizes that streets may be added or removed as public development occurs. Staff proposes to formally add the Technology Drive extension to the regular sweeping service area at an annual cost of $1,200.

Analysis
M & M Sweeping, Inc. initially proposed annual base compensation of $288,000, which will be an increase of $36,000 or 14%. Following discussions with the contractor, staff negotiated the proposed annual base compensation to $270,000 that resulted in an increase of $18,000 or 7%.

Of the $18,000 increase, $16,800 is attributable to the negotiated adjustment for existing citywide sweeping services and $1,200 is attributable to the Technology Drive extension. The contractor cited increased costs for commercial diesel fuel, parts, labor, and insurance. Staff recommends approval to continue the existing citywide service and incorporate Technology Drive into the regular sweeping route.

The following table details a summary of the contract changes:

Contract Action Approved
Annual
Base Amount
Approved
Annual Extras
Summary of Change
Original Contract
Award
$230,917 $25,000 Established citywide sweeping
services.

Change Order No. 1 $241,200 $25,000 FY 2024-25 $10,283/ 4.5% Price Increase
Change Order No. 2 $252,000 $25,000 FY 2025-26 $10,800/ 4.5% Price Increase
Proposed Amendment
No. 1
$270,000 $25,000 FY 2026-27 first one-year extension;
$16,800 operating cost adjustment;
$1,200 Technology Drive extension
Legal Review
This report has been reviewed by the City Attorney’s Office.

Financial Impact
The approved Fiscal Year 2026-27 Financial Plan includes $315,000 under various Public Works operating accounts for street and parking lot sweeping services. Amendment No. 1 would increase the annual base compensation from $252,000 to $270,000 and maintain 284

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annual authorization of up to $25,000 for as-needed extra sweeping services; a total of $295,000. Therefore, there is no additional financial impact to the General Fund.

The table below illustrates the City’s budget under the various Public Works operating accounts:

Location Account No. Budget
Citywide Street / Residential Sweeping 1104310-4332000 $250,000 Parking Lot Services:

Corporation Yard 1104330-4331000 $7,500
Civic Center Park 1104610-4332100 $15,000
Other Parks 1104611-4332501 $10,000
Entrada del Paseo 1104614-4392101 $7,500
Palm Desert Aquatic Center 2424549-4331101 $5,000
Presidents Plaza E/W 2774373-4309103 $10,000
Presidents Plaza III 2824373-4309103 $7,500
State Bldg 5104195-4369602 $2,500
Budget Amount $315,000
*Annual Base Compensation – Amendment No.1 -$270,000
Allowable Extra Sweeping Services -$25,000
Budget Balance $20,000
Attachments

1. Original ASR – Contract C45130

2. Original C45130 Contract

3. CO No. 1 - C45130

4. ASR - Contract C45130 CO No. 2

5. CO No. 2 – C45130

6. Amendment No. 1 – C45131

7. M and M Exhibit C
285

Page 4 ends

1. Site-Specific Property Interest
Does this item involve a project site or other identifiable real property? ☐ Yes
☒ No
If yes, identify the project site:

Councilmembers should consider whether they own, lease, or hold interests in real property within 1,000 feet of the project site. (Gov. Code § 87103(b); FPPC Reg. 18702.2).

ALL ACTIONS ARE DRAFT PENDING APPROVAL OF THE FINAL MINUTES 1H. AWARD CONTRACT NO. C45130 TO M & M SWEEPING, INC., OF THOUSAND

PALMS, CALIFORNIA, FOR CITYWIDE SWEEPING SERVICES IN THE ANNUAL AMOUNT OF $ 230,917, PLUS EXTRA SWEEPING SERVICES UP TO THE AMOUNT OF $ 25,000 (PROJECT NO. 754- 24)

MOTION BY COUNCILMEMBER NESTANDE, SECOND BY COUNCILMEMBER HARNIK, CARRIED 5-0, to:

1. Award a three ( 3) year Contract No. C45130 with an option of two, one-year extensions to M & M Sweeping, Inc., of Thousand Palms, California, for Citywide Sweeping Services in the annual amount of $230,917.

2. Authorize extra sweeping services in an annual amount not to exceed $ 25,000.

3. Authorize the City Manager or designee to review and approve three contract amendments/ extensions up to the established contract amount and change order requests for unanticipated conditions per Section 3.30.170 of the Palm Desert Municipal Code.

4. Authorize the City Manager to execute the agreement. 287

Page 1 of 2 ends

CITY OF PALM DESERT

STAFF REPORT
MEETING DATE: April 27, 2023
PREPARED BY: David Reyes, Street Maintenance Supervisor Marisol Lopez, Administrative Assistant II
REQUEST: AWARD A CONTRACT TO M & M SWEEPING, INC., OF THOUSAND

PALMS, CA, FOR CITYWIDE SWEEPING SERVICES IN THE ANNUAL AMOUNT OF $ 230,917, PLUS EXTRA SWEEPING SERVICES UP TO THE AMOUNT OF $25,000 (PROJECT NO. 754-24)
RECOMMENDATION:

1. Award a three ( 3) year Contract with an option of two, one-year extensions to M & M Sweeping, Inc., of Thousand Palms, California, for Citywide Sweeping Services in the annual amount of $230,917.

2. Authorize extra sweeping services in an annual amount not to exceed $ 25,000.

4. Authorize the City Manager to execute the said agreement.

BACKGROUND/ ANALYSIS:

The Public Works Citywide Street Sweeping Services Program consists of commercial and residential street sweeping and City-owned parking lot sweeping services.

The National Pollutant Discharge Elimination System ( NPDES) permit regulated by the Federal Clean Air Act of 1970 requires the reduction of pollutants by Source Control Best Management Practices (BMPs) and the reduction of litter accumulation. In addition, the South Coast Air Quality Management District ( SCAQMD) requires that sediment be removed from paved public roadways. Street sweeping is considered the most effective method to comply with all these requirements.

The current contract for Citywide Street Sweeping services is set to expire on June 30, 2023; therefore, a Request for Proposals was advertised via OpenGov, and two ( 2) proposals were received on March 16, 2023:

Contractor Location Proposed Fee
M & M Sweeping, Inc. Thousand Palms, CA $ 230,917.00
Clean Street, LLC. Gardena, California $ 288,914.04
Item 1H-1
288
City of Palm Desert
Award Contract to M & M Sweeping, Inc.

Page 2 of 2 ends

Public Works staff reviewed the proposals and determined that the lowest responsible bidder is M&M Sweeping, Inc.; therefore, recommends awarding the contract to M & M Sweeping, Inc. for a term of three years commencing July 1, 2023, with an option of two, one-year extensions.

During extreme high winds or storms, immediate extra sweeping services are required to address areas that are impacted by these events. In order to efficiently address these instances, an additional $ 25,000 is requested to be set aside specifically for such occurrences.

References:

M & M Sweeping, Inc., currently provides satisfactory street sweeping services for the City and responds quickly to emergencies.

Strategic Plan:

Citywide street sweeping is an ongoing streets maintenance function, and as such has no impact on the Strategic Plan.

FINANCIAL IMPACT:

The Public Works proposed operating budget for Fiscal Year 2023/24 includes a total of 277,000 for street and parking lot sweeping services. The contract including extra sweeping services totals $ 255,917. Therefore upon approval of the budget, there is no additional financial impact to the general fund.

Location Account Budget
Residential / Commercial Street Sweeping 1104310- 4332000 $ 225,000 Corporation Yard Parking Lot Sweeping 1104330- 4331000 $ 10,000 Civic Center Parking Lot Sweeping 1104610- 4332100 $ 7,500 Parks Parking Lot Sweeping 1104611- 4332501 $ 6,500
Entrada del Paseo Parking Lot Sweeping 1104614- 4392102 $ 2,500 Aquatic Center Parking Lot Sweeping 2424549- 4331101 $ 10,000 Parkview Office Complex Parking Lot Sweeping 5104195- 4369601 $ 2,500 Presidents Plaza Parking Lot Sweeping 2774373- 4309103 $ 7,500 Presidents Plaza III Parking Lot Sweeping 2824373- 4309103 $ 5,500 TOTAL $ 277,000
REVIEWED BY:

Department Director: Martin Alvarez
Finance Director: Veronica Chavez
Assistant City Manager: Chris Escobedo
City Manager: Todd Hileman
ATTACHMENTS:

1. Citywide Sweeping Services Maintenance Services Agreement

2. Proposal
Item 1H-2
289
290
Contract No. C45130
1 CITY OF PALM DESERT

CITYWIDE STREET SWEEPING SERVICES

MAINTENANCE SERVICES AGREEMENT

1. PARTIES AND DATE.

This Agreement is made and entered into this 27th day of April 2023 by and between the City of Palm Desert, a municipal corporation organized under the laws of the State of California with its principal place of business at 73-510 Fred Waring Drive, Palm Desert, California 92260- 2578, County of Riverside, State of California (“City”) and M & M Sweeping, Inc., an S-Corporation with its principal place of business at 72152 Northshore St, Unit B, in Thousand Palms, California 92256 (“Contractor”). City and Contractor are sometimes individually referred to as “Party” and collectively as “Parties” in this Agreement.

2. RECITALS.

2.1 Contractor.

Contractor desires to perform and assume responsibility for the provision of certain maintenance services required by the City on the terms and conditions set forth in this Agreement.

Contractor represents that it is experienced in providing maintenance services to public clients, that it and its subcontractors have all necessary licenses and permits to perform the services in the State of California, and that it is familiar with the plans of City. Contractor shall not subcontract any portion of the work required by this Agreement, except as expressly stated herein, without prior written approval of City. Subcontracts, if any, shall contain a provision making them subject to all provisions stipulated in this Agreement.

2.2 Project.

City desires to engage Contractor to render such services for the Citywide Street Sweeping Services Project (“Project”) as set forth in this Agreement.

3. TERMS.

3.1 Scope of Services and Term.

3.1.1 General Scope of Services. Contractor promises and agrees to furnish to the City all labor, materials, tools, equipment, services, and incidental and customary work necessary to fully and adequately supply the maintenance services necessary for the Project (“Services”). The Services are more particularly described in Exhibit “A” attached hereto and incorporated herein by reference. All Services shall be subject to, and performed in accordance with, this Agreement, the exhibits attached hereto and incorporated herein by reference, and all applicable local, state and federal laws, rules and regulations.

3.1.2 Term. The term of this Agreement shall be from July 1, 2023, to June 30, 2026, unless earlier terminated as provided herein. The City shall have the unilateral option, at its sole discretion, to renew this Agreement automatically for no more than two additional one-year terms. Contractor shall complete the Services within the term of this Agreement and shall meet any other established schedules and deadlines. The Parties may, by mutual, written consent, extend the term of this Agreement if necessary to complete the Services.

3.2 Responsibilities of Contractor.

3.2.1 Control and Payment of Subordinates; Independent Contractor. The Services shall be performed by Contractor or under its supervision. Contractor will determine the DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 291
Contract No. C45130
2 means, methods and details of performing the Services subject to the requirements of this Agreement. City retains Contractor on an independent contractor basis and not as an employee.

Any personnel performing the Services under this Agreement on behalf of Contractor shall not be employees of City and shall at all times be under Contractor’s exclusive direction and control.

Contractor shall pay all wages, salaries, and other amounts due such personnel in connection with their performance of Services under this Agreement and as required by law. Contractor shall be responsible for all reports and obligations respecting such additional personnel, including, but not limited to: social security taxes, income tax withholding, unemployment insurance, disability insurance, and workers’ compensation insurance.

3.2.2 Schedule of Services. Contractor shall perform the Services in a prompt and timely manner in accordance with the Schedule of Services set forth in Exhibit “B” attached hereto and incorporated herein by reference. Contractor represents that it has the professional and technical personnel required to perform the Services in conformance with such conditions.

Upon request of City, Contractor shall provide a more detailed schedule of anticipated performance to meet the Schedule of Services.

3.2.3 Conformance to Applicable Requirements. All work prepared by Contractor shall be subject to the approval of City.

3.2.4 City’s Representative. The City hereby designates David Reyes Jr, Street Maintenance Supervisor, or his or her designee, to act as its representative for the performance of this Agreement (“City’s Representative”). City’s Representative shall have the power to act on behalf of the City for all purposes under this Agreement except for increasing compensation.

Contractor shall not accept direction or orders from any person other than the City’s Representative or his or her designee.

3.2.5 Contractor’s Representative. Contractor hereby designates Richard Juge III, or his or her designee, to act as its representative for the performance of this Agreement (“Contractor’s Representative”). Contractor’s Representative shall have full authority to represent and act on behalf of the Contractor for all purposes under this Agreement. The Contractor’s Representative shall supervise and direct the Services, using his best skill and attention, and shall be responsible for all means, methods, techniques, sequences, and procedures and for the satisfactory coordination of all portions of the Services under this Agreement.

3.2.6 Coordination of Services. Contractor agrees to work closely with City staff in the performance of Services and shall be available to City’s staff, consultants, and other staff at all reasonable times.

3.2.7 Standard of Care; Performance of Employees. Contractor shall perform all Services under this Agreement in a skillful and competent manner, consistent with the standards generally recognized as being employed by professionals in the same discipline in the State of California. Contractor represents and maintains that it is skilled in the professional calling necessary to perform the Services. Contractor warrants that all employees and subcontractors shall have sufficient skill and experience to perform the Services assigned to them. Finally, Contractor represents that it, its employees and subcontractors have all licenses, permits, qualifications and approvals of whatever nature that are legally required to perform the Services, including a City Business License, and that such licenses and approvals shall be maintained throughout the term of this Agreement. Contractor shall perform, at its own cost and expense and without reimbursement from the City, any services necessary to correct errors or omissions which are caused by the Contractor’s failure to comply with the standard of care provided for herein.

DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 292
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3 Any employee of the Contractor or its sub-contractors who is determined by the City to be uncooperative, incompetent, a threat to the adequate or timely completion of the Project, a threat to the safety of persons or property, or any employee who fails or refuses to perform the Services in a manner acceptable to the City, shall be promptly removed from the Project by the Contractor and shall not be re-employed to perform any of the Services or to work on the Project.

3.2.8 Period of Performance. Contractor shall perform and complete all Services under this Agreement within the term set forth in Section 3.1.2 above (“Performance Time”).

Contractor shall perform the Services in strict accordance with any completion schedule or Project milestones described in Exhibits “A” or “B” attached hereto, or which may be provided separately in writing to the Contractor. Contractor agrees that if the Services are not completed within the aforementioned Performance Time and/or pursuant to any such completion schedule or Project milestones developed pursuant to provisions of this Agreement, it is understood, acknowledged and agreed that the City will suffer damage

3.2.9 Disputes. Should any dispute arise respecting the true value of any work done, of any work omitted, or of any extra work which Contractor may be required to do, or respecting the size of any payment to Contractor during the performance of this Contract, Contractor shall continue to perform the Work while said dispute is decided by the City. If Contractor disputes the City’s decision, Contractor shall have such remedies as may be provided by law.

3.2.10 Laws and Regulations; Employee/Labor Certifications. Contractor shall keep itself fully informed of and in compliance with all local, state and federal laws, rules and regulations in any manner affecting the performance of the Project or the Services, including all Cal/OSHA requirements, and shall give all notices required by law. Contractor shall be liable for all violations of such laws and regulations in connection with the Services and this Agreement. All violations of such laws and regulations shall be grounds for the City to terminate the Agreement for cause. City is a public entity of the State of California subject to certain provisions of the Health & Safety Code, Government Code, Public Contract Code, and Labor Code of the State. It is stipulated and agreed that all provisions of the law applicable to the public contracts of a municipality are a part of this Agreement to the same extent as though set forth herein and will be complied with.

3.2.10.1 Employment Eligibility; Contractor. Contractor certifies that it fully complies with all requirements and restrictions of state and federal law respecting the employment of undocumented aliens, including, but not limited to, the Immigration Reform and Control Act of 1986, as may be amended from time to time and shall require all subconsultants and sub-subconsultants to comply with the same. Contractor certifies that it has not committed a violation of any such law within the five (5) years immediately preceding the date of execution of this Agreement, and shall not violate any such law at any time during the term of the Agreement.

3.2.10.2 Labor Certification. By its signature hereunder, Contractor certifies that it is aware of the provisions of Section 3700 of the California Labor Code which require every employer to be insured against liability for Workers’ Compensation or to undertake self-insurance in accordance with the provisions of that Code, and agrees to comply with such provisions before commencing the performance of the Services.

3.2.10.3 Equal Opportunity Employment. Contractor represents that it is an equal opportunity employer and it shall not discriminate against any subcontractor, employee or applicant for employment because of race, religion, color, national origin, handicap, DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 293
Contract No. C45130
4 ancestry, sex or age. Such non-discrimination shall include, but not be limited to, all activities related to initial employment, upgrading, demotion, transfer, recruitment or recruitment advertising, layoff or termination. Contractor shall comply with all relevant provisions of City’s Minority Business Enterprise program, Affirmative Action Plan or other related programs or guidelines currently in effect or hereinafter enacted.

3.2.10.4 Air Quality. Contractor must fully comply with all applicable laws, rules and regulations in furnishing or using equipment and/or providing services, including, but not limited to, emissions limits and permitting requirements imposed by the California Air Resources Board (CARB). Contractor shall specifically be aware of the CARB limits and requirements’ application to “portable equipment”, which definition is considered by CARB to include any item of equipment with a fuel-powered engine. Contractor shall indemnify City against any fines or penalties imposed by CARB or any other governmental or regulatory agency for violations of applicable laws, rules and/or regulations by Contractor, its subcontractors, or others for whom Contractor is responsible under its indemnity obligations provided for in this Agreement.

3.2.10.5 Water Quality Management and Compliance. To the extent applicable, Contractor’s Services must account for, and fully comply with, all local, state and federal laws, rules and regulations that may impact water quality compliance, including, without limitation, all applicable provisions of the Federal Water Pollution Control Act (33 U.S.C. §§ 1300); the California Porter-Cologne Water Quality Control Act (Cal Water Code §§ 13000-14950); laws, rules and regulations of the Environmental Protection Agency and the State Water Resources Control Board; the City’s ordinances regulating discharges of storm water; and any and all regulations, policies, or permits issued pursuant to any such authority regulating the discharge of pollutants, as that term is used in the Porter-Cologne Water Quality Control Act, to any ground or surface water in the State. Failure to comply with the laws, regulations and policies described in this Section is a violation of law that may subject Contractor to penalties, fines, or additional regulatory requirements.

3.2.11 Insurance.

3.2.11.1 Minimum Requirements. Without limiting Contractor’s indemnification of City, and prior to commencement of the Services, Contractor shall obtain, provide and maintain at its own expense during the term of this Agreement, policies of insurance of the type and amounts described below and in a form that is satisfactory to City. (A) General Liability Insurance. Contractor shall maintain commercial general liability insurance with coverage at least as broad as Insurance Services Office form CG 00 01, in an amount not less than $1,000,000 per occurrence, $2,000,000 general aggregate, for bodily injury, personal injury, and property damage. The policy must include contractual liability that has not been amended. Any endorsement restricting standard ISO “insured contract” language will not be accepted.
(B) Automobile Liability Insurance. Contractor shall maintain automobile insurance at least as broad as Insurance Services Office form CA 00 01 covering bodily injury and property damage for all activities of the Contractor arising out of or in connection with Work to be performed under this Agreement, including coverage for any owned, hired, nonowned or rented vehicles, in an amount not less than $2,000,000 combined single limit for each accident. The City’s Risk Manager may modify this requirement if it is determined that Consultant will not be utilizing a vehicle in the performance of his/her duties under this Agreement.

DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 294
Contract No. C45130
5 (C) Umbrella or Excess Liability Insurance. Contractor may opt to utilize umbrella or excess liability insurance in meeting insurance requirements. In such circumstances, Contractor may obtain and maintain an umbrella or excess liability insurance policy with limits that will provide bodily injury, personal injury and property damage liability coverage at least as broad as the primary coverages set forth above, including commercial general liability and employer’s liability. Such policy or policies shall include the following terms and conditions:
(a) A drop down feature requiring the policy to
respond if any primary insurance that would otherwise have applied proves to be uncollectible in whole or in part for any reason;
(b) Pay on behalf of wording as opposed to
reimbursement;
(c) Concurrency of effective dates with primary
policies; and
(d) Policies shall “follow form” to the underlying
primary policies.
(e) Insureds under primary policies shall also be
insureds under the umbrella or excess policies.
(D) Workers’ Compensation Insurance. Contractor shall
maintain Workers’ Compensation Insurance (Statutory Limits) and Employer’s Liability Insurance (with limits of at least $1,000,000). Contractor shall submit to City, along with the certificate of insurance, a Waiver of Subrogation endorsement in favor of the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives. (E) Reserved.
(F) Reserved.
a) Liability arising from the theft, dissemination
and/or use of confidential or personally identifiable information; including credit monitoring and regulatory fines arising from such theft, dissemination or use of the confidential information. b) Network security liability arising from the
unauthorized use of, access to, or tampering with computer systems. c) Liability arising from the failure of technology
products (software) required under the contract for Vendor to properly perform the services intended.
d) Electronic Media Liability arising from
personal injury, plagiarism or misappropriation of ideas, domain name infringement or improper deep-linking or framing, and infringement or violation of intellectual property rights. e) Liability arising from the failure to render
professional services.

DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 295
Contract No. C45130
6 If coverage is maintained on a claims-made basis, Contractor shall maintain such coverage for an additional period of three (3) years following termination of the Agreement. (G) Pollution Liability Insurance. Reserved.

3.2.11.2 Other Provisions and Requirements.
(A) Proof of Insurance. Contractor shall provide certificates of insurance to City as evidence of the insurance coverage required herein, along with a waiver of subrogation endorsement for workers’ compensation. Insurance certificates and endorsements must be approved by City’s Risk Manager prior to commencement of performance. Current certification of insurance shall be kept on file with City at all times during the term of this contract.

City reserves the right to require complete, certified copies of all required insurance policies, at any time.
(B) Duration of Coverage. Contractor shall procure and
maintain for the duration of the contract 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 by Contractor, his/her agents, representatives, employees or subconsultants. (C) Primary/Non-Contributing. Coverage provided by
Contractor shall be primary and any insurance or self-insurance procured or maintained by City shall not be required to contribute with it. The limits of insurance required herein may be satisfied by a combination of primary and umbrella or excess insurance. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non-contributory basis for the benefit of City before the City’s own insurance or selfinsurance shall be called upon to protect it as a named insured. (D) City’s Rights of Enforcement. In the event any policy of insurance required under this Agreement does not comply with these specifications, or is canceled and not replaced, City has the right, but not the duty, to obtain the insurance it deems necessary and any premium paid by City will be promptly reimbursed by Contractor, or City will withhold amounts sufficient to pay premium from Contractor payments. In the alternative, City may cancel this Agreement.
(E) Acceptable Insurers. All insurance policies shall be issued by an insurance company currently authorized by the Insurance Commissioner to transact business of insurance or is on the List of Approved Surplus Line Insurers in the State of California, with an assigned policyholders’ Rating of A- (or higher) and Financial Size Category Class VII (or larger) in accordance with the latest edition of Best’s Key Rating Guide, unless otherwise approved by the City’s Risk Manager.
(F) Waiver of Subrogation. All insurance coverage maintained or procured pursuant to this agreement shall be endorsed to waive subrogation against the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives, or shall specifically allow Contractor or others providing insurance evidence in compliance with these specifications to waive their right of recovery prior to a loss. Contractor hereby waives its own right of recovery against the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives, and shall require similar written express waivers and insurance clauses from each of its subcontractors.

DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 296
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7 (G) Enforcement of Contract Provisions (non estoppel).

Contractor acknowledges and agrees that any actual or alleged failure on the part of the City to inform Contractor of non-compliance with any requirement imposes no additional obligations on the City nor does it waive any rights hereunder.
(H) Requirements Not Limiting. Requirements of specific coverage features or limits contained in this Section are not intended as a limitation on coverage, limits or other requirements, or a waiver of any coverage normally provided by any insurance.

Specific reference to a given coverage feature is for purposes of clarification only as it pertains to a given issue and is not intended by any party or insured to be all inclusive, or to the exclusion of other coverage, or a waiver of any type. If the Contractor maintains higher limits than the minimums shown above, the City requires and shall be entitled to coverage for 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. (I) Notice of Cancellation. Contractor agrees to oblige its insurance agent or broker and insurers to provide City with a thirty (30) day notice of cancellation (except for nonpayment for which a ten (10) day notice is required) or nonrenewal of coverage for each required coverage.
(J) Additional Insured Status. General liability, automobile liability, and if applicable, pollution liability and cyber liability, policies shall provide or be endorsed to provide that the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives, shall be additional insureds under such policies. This provision shall also apply to any excess/umbrella liability policies. (K) Prohibition of Undisclosed Coverage Limitations. None of the coverages required herein will be in compliance with these requirements if they include any limiting endorsement of any kind that has not been first submitted to City and approved of in writing.
(L) Separation of Insureds. A severability of interests provision must apply for all additional insureds ensuring that Contractor’s insurance shall apply separately to each insured against whom claim is made or suit is brought, except with respect to the insurer’s limits of liability. The policy(ies) shall not contain any cross-liability exclusions. (M) Pass Through Clause. Contractor agrees to ensure that its sub-consultants, sub-contractors, and any other party involved with the Project who is brought onto or involved in the project by Contractor, provide the same minimum insurance coverage and endorsements required of Contractor. Contractor agrees to monitor and review all such coverage and assumes all responsibility for ensuring that such coverage is provided in conformity with the requirements of this section. Contractor agrees that upon request, all agreements with consultants, subcontractors, and others engaged in the Project will be submitted to City for review. (N) City’s Right to Revise Specifications. The City or its Risk Manager reserves the right at any time during the term of the contract to change the amounts and types of insurance required by giving the Contractor ninety (90) days advance written notice of such change. If such change results in cost to the Contractor, the City and Contractor may renegotiate Contractor’s compensation. If the City reduces the insurance requirements, the change shall go into effect immediately and require no advanced written notice.

DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 297
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8 (O) Self-Insured Retentions. Any self-insured retentions must be declared to and approved by City. City reserves the right to require that self-insured retentions be eliminated, lowered, or replaced by a deductible. Self-insurance will not be considered to comply with these specifications unless approved by City. (P) Timely Notice of Claims. Contractor shall give City prompt and timely notice of claims made or suits instituted that arise out of or result from Contractor’s performance under this Agreement, and that involve or may involve coverage under any of the required liability policies.
(Q) Additional Insurance. Contractor shall also procure and maintain, at its own cost and expense, any additional kinds of insurance, which in its own judgment may be necessary for its proper protection and prosecution of the work.

3.2.12 Safety. Contractor shall execute and maintain its work so as to avoid injury or damage to any person or property. In carrying out its Services, the Contractor shall at all times be in compliance with all applicable local, state and federal laws, rules and regulations, and shall exercise all necessary precautions for the safety of employees appropriate to the nature of the work and the conditions under which the work is to be performed. Safety precautions, where applicable, shall include, but shall not be limited to: (A) adequate life protection and lifesaving equipment and procedures; (B) instructions in accident prevention for all employees and subcontractors, such as safe walkways, scaffolds, fall protection ladders, bridges, gang planks, confined space procedures, trenching and shoring, equipment and other safety devices, equipment and wearing apparel as are necessary or lawfully required to prevent accidents or injuries; and (C) adequate facilities for the proper inspection and maintenance of all safety measures.

3.2.13 Bonds.

3.2.13.1 Performance Bond. If required by law or otherwise specifically requested by City in Exhibit “C” attached hereto and incorporated herein by reference, Contractor shall execute and provide to City concurrently with this Agreement a Performance Bond in the amount of the total, not-to-exceed compensation indicated in this Agreement, and in a form provided or approved by the City. If such bond is required, no payment will be made to Contractor until it has been received and approved by the City.

3.2.13.2 Payment Bond. If required by law or otherwise specifically requested by City in Exhibit “C” attached hereto and incorporated herein by reference, Contractor shall execute and provide to City concurrently with this Agreement a Payment Bond in the amount of the total, not-to-exceed compensation indicated in this Agreement, and in a form provided or approved by the City. If such bond is required, no payment will be made to Contractor until it has been received and approved by the City.

3.2.13.3 Bond Provisions. Should, in City’s sole opinion, any bond become insufficient, or any surety be found to be unsatisfactory, Contractor shall renew or replace the affected bond within ten (10) days of receiving notice from City. In the event the surety or Contractor intends to reduce or cancel any required bond, at least thirty (30) days prior written notice shall be given to the City, and Contractor shall post acceptable replacement bonds at least ten (10) days prior to expiration of the original bonds. No further payments shall be deemed due or will be made under this Agreement until any replacement bonds required by this Section are accepted by the City. To the extent, if any, that the total compensation is increased in accordance DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 298
Contract No. C45130
9 with the Agreement, the Contractor shall, upon request of the City, cause the amount of the bonds to be increased accordingly and shall promptly deliver satisfactory evidence of such increase to the City. To the extent available, the bonds shall further provide that no change or alteration of the Agreement (including, without limitation, an increase in the total compensation, as referred to above), extensions of time, or modifications of the time, terms, or conditions of payment to the Contractor, will release the surety. If the Contractor fails to furnish any required bond, the City may terminate this Agreement for cause.

3.2.13.4 Surety Qualifications. Only bonds executed by an admitted surety insurer, as defined in Code of Civil Procedure Section 995.120, shall be accepted. The surety must be a California-admitted surety with a current A.M. Best’s rating no less than A:VIII and satisfactory to the City. If a California-admitted surety insurer issuing bonds does not meet these requirements, the insurer will be considered qualified if it is in conformance with Section 995.660 of the California Code of Civil Procedure, and proof of such is provided to the City.

3.2.14 Accounting Records. Contractor shall maintain complete and accurate records with respect to all costs and expenses incurred under this Agreement. All such records shall be clearly identifiable. Contractor shall allow a representative of City during normal business hours to examine, audit, and make transcripts or copies of such records and any other documents created pursuant to this Agreement. Contractor shall allow inspection of all work, data, documents, proceedings, and activities related to the Agreement for a period of three (3) years from the date of final payment under this Agreement.

3.2.15 Work Sites.

3.2.15.1 Inspection Of Site. Contractor shall visit sites where Services are to be performed and shall become acquainted with all conditions affecting the Services prior to commencing the Services. Contractor shall make such examinations as it deems necessary to determine the condition of the work sites, its accessibility to materials, workmen and equipment, and to determine Contractor’s ability to protect existing surface and subsurface improvements. No claim for allowances–time or money–will be allowed as to such matters after commencement of the Services.

3.2.15.2 Field Measurements. Contractor shall make field measurements, verify field conditions and shall carefully compare such field measurements and conditions and other information known to Contractor with the Contract, including any plans, specifications, or scope of work before commencing Services. Errors, inconsistencies or omissions discovered shall be reported to the City immediately and prior to performing any Services or altering the condition.

3.2.15.3 Hazardous Materials and Differing Conditions. Should Contractor encounter material reasonably believed to be polychlorinated biphenyl (PCB) or other toxic wastes, hazardous substances and hazardous materials as defined in California state or federal law at the site which have not been rendered harmless, the Contractor shall immediately stop work at the affected area and shall report the condition to the City in writing. The City shall contract for any services required to directly remove and/or abate PCBs, hazardous substances, other toxic wastes and hazardous materials, and shall not require the Contractor to subcontract for such services. The Services in the affected area shall not thereafter be resumed except by written agreement of the City and Contractor.

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10 3.2.16 Loss and Damage. Contractor shall be responsible for all loss and damage which may arise out of the nature of the Services agreed to herein, or from the action of the elements, or from any unforeseen difficulties which may arise or be encountered in the prosecution of the Services until the same is fully completed and accepted by City.

3.2.17 Warranty. Contractor warrants all Services under the Agreement (which for purposes of this Section shall be deemed to include unauthorized work which has not been removed and any non-conforming materials incorporated into the work) to be of good quality and free from any defective or faulty material and workmanship. Contractor agrees that for a period of one year (or the period of time specified elsewhere in the Agreement or in any guarantee or warranty provided by any manufacturer or supplier of equipment or materials incorporated into the work, whichever is later) after the date of final acceptance, Contractor shall within ten (10) days after being notified in writing by the City of any defect in the Services or non-conformance of the Services to the Agreement, commence and prosecute with due diligence all Services necessary to fulfill the terms of the warranty at its sole cost and expense. Contractor shall act sooner as requested by the City in response to an emergency. In addition, Contractor shall, at its sole cost and expense, repair and replace any portions of the work (or work of other contractors) damaged by its defective Services or which becomes damaged in the course of repairing or replacing defective work. For any work so corrected, Contractor’s obligation hereunder to correct defective work shall be reinstated for an additional one (1) year period, commencing with the date of acceptance of such corrected work. Contractor shall perform such tests as the City may require to verify that any corrective actions, including, without limitation, redesign, repairs, and replacements comply with the requirements of the Agreement. All costs associated with such corrective actions and testing, including the removal, replacement, and reinstitution of equipment and materials necessary to gain access, shall be the sole responsibility of the Contractor. All warranties and guarantees of subcontractors, suppliers and manufacturers with respect to any portion of the work, whether express or implied, are deemed to be obtained by Contractor for the benefit of the City, regardless of whether or not such warranties and guarantees have been transferred or assigned to the City by separate agreement and Contractor agrees to enforce such warranties and guarantees, if necessary, on behalf of the City. In the event that Contractor fails to perform its obligations under this Section, or under any other warranty or guaranty under this Agreement, to the reasonable satisfaction of the City, the City shall have the right to correct and replace any defective or non-conforming work and any work damaged by such work or the replacement or correction thereof at Contractor's sole expense. Contractor shall be obligated to fully reimburse the City for any expenses incurred hereunder upon demand.

3.3 Fees and Payments.

3.3.1 Compensation. Contractor shall receive compensation, including authorized reimbursements, for all Services rendered under this Agreement at the rates set forth in Exhibit “C” attached hereto and incorporated herein by reference. The total compensation shall not exceed Two Hundred Thirty Thousand Nine Hundred Seventeen Dollars ($230,917.00) without written approval of the City Council or City Manager, as applicable.

3.3.2 Payment of Compensation. Contractor shall submit to City monthly invoices which provides a detailed description of the Services and hours rendered by Contractor. City shall, within thirty (30) days of receiving such statement, review the statement and pay all non-disputed and approved charges. Contractor shall submit its final invoice to City within thirty (30) days from the last date of provided Services or termination of this Agreement and failure by the Contractor to submit a timely invoice shall constitute a waiver of its right to final payment. Payment shall not DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 300
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11 constitute acceptance of any Services completed by Contractor. The making of final payment shall not constitute a waiver of any claims by the City for any reason whatsoever.

3.3.3 Deductions. City may deduct or withhold, as applicable, from each progress payment an amount necessary to protect City from loss because of: (1) stop payment notices as allowed by state law; (2) unsatisfactory prosecution of the Services by Contractor; (3) sums representing expenses, losses, or damages as determined by the City, incurred by the City for which Contractor is liable under the Agreement; and (4) any other sums which the City is entitled to recover from Contractor under the terms of the Agreement or pursuant to state law, including Section 1727 of the California Labor Code. The failure by the City to deduct any of these sums from a progress payment shall not constitute a waiver of the City's right to such sums.

3.3.4 Reimbursement for Expenses. Contractor shall not be reimbursed for any expenses unless authorized in writing by City.

3.3.5 Extra Work. At any time during the term of this Agreement, City may request that Contractor perform Extra Work. As used herein, “Extra Work” means any work which is determined by City to be necessary for the proper completion of the Project, but which the parties did not reasonably anticipate would be necessary at the execution of this Agreement.

Contractor shall not perform, nor be compensated for, Extra Work without written authorization from City’s Representative.

3.3.6 Prevailing Wages. Contractor is aware of the requirements of California Labor Code Section 1720, et seq., and 1770, et seq., as well as California Code of Regulations, Title 8, Section 16000, et seq., (“Prevailing Wage Laws”), which require the payment of prevailing wage rates and the performance of other requirements on “public works” and “maintenance” projects. If the Services are being performed as part of an applicable “public works” or “maintenance” project, as defined by the Prevailing Wage Laws, and if the total compensation is $15,000 or more, Contractor agrees to fully comply with such Prevailing Wage Laws. City shall provide Contractor with a copy of the prevailing rates of per diem wages in effect at the commencement of this Agreement. Contractor shall make copies of the prevailing rates of per diem wages for each craft, classification or type of worker needed to execute the Services available to interested parties upon request, and shall post copies at the Contractor’s principal place of business and at the Project site. Contractor shall defend, indemnify and hold the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives free and harmless from any claim or liability arising out of any failure or alleged failure to comply with the Prevailing Wage Laws. It shall be mandatory upon the Contractor and all subcontractors to comply with all California Labor Code provisions, which include but are not limited to prevailing wages (Labor Code Sections 1771, 1774 and 1775), employment of apprentices (Labor Code Section 1777.5), certified payroll records (Labor Code Sections 1771.4 and 1776), hours of labor (Labor Code Sections 1813 and 1815) and debarment of contractors and subcontractors (Labor Code Section 1777.1). The requirement to submit certified payroll records directly to the Labor Commissioner under Labor Code section 1771.4 shall not apply to work performed on a public works project that is exempt pursuant to the small project exemption specified in Labor Code Section 1771.4.

3.3.7 Registration/DIR Compliance. If the Services are being performed as part of an applicable “public works” or “maintenance” project, and if the total compensation is $15,000 or more, then pursuant to Labor Code Sections 1725.5 and 1771.1, the Contractor and all subcontractors performing such Services must be registered with the Department of Industrial Relations. Contractor shall maintain registration for the duration of the Project and require the DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 301
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12 same of any subcontractors, as applicable. This Project may also be subject to compliance monitoring and enforcement by the Department of Industrial Relations. It shall be Contractor’s sole responsibility to comply with all applicable registration and labor compliance requirements.

Any stop orders issued by the Department of Industrial Relations against Contractor or any subcontractor that affect Contractor’s performance of Services, including any delay, shall be Contractor’s sole responsibility. Any delay arising out of or resulting from such stop orders shall be considered Contractor caused delay and shall not be compensable by the City. Contractor shall defend, indemnify and hold the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives free and harmless from any claim or liability arising out of stop orders issued by the Department of Industrial Relations against Contractor or any subcontractor.

3.4 Termination of Agreement.

3.4.1 Grounds for Termination. City may, by written notice to Contractor, terminate the whole or any part of this Agreement at any time and without cause by giving written notice to Contractor of such termination, and specifying the effective date thereof, at least seven (7) days before the effective date of such termination. Upon termination, Contractor shall be compensated only for those Services which have been adequately rendered to City, and Contractor shall be entitled to no further compensation. Contractor may not terminate this Agreement except for cause.

3.4.2 Effect of Termination. If this Agreement is terminated as provided herein, City may require Contractor to provide all finished or unfinished information of any kind prepared by Contractor in connection with the performance of Services under this Agreement. Contractor shall be required to provide such document and other information within fifteen (15) days of the request.

3.4.3 Additional Services. In the event this Agreement is terminated in whole or in part as provided herein, City may procure, upon such terms and in such manner as it may determine appropriate, services similar to those terminated.

3.5 General Provisions.

3.5.1 Delivery of Notices. All notices permitted or required under this Agreement shall be given to the respective parties at the following address, or at such other address as the respective parties may provide in writing for this purpose:

Contractor:

M & M Sweeping Inc.

PO Box 878
Thousand Palms, CA 92276
Attn: Richard Judge III
City:

City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, CA 92260-2578
Attn: David Reyes Jr., Street Maintenance Supervisor
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13 Such notice shall be deemed made when personally delivered or when mailed, forty-eight (48) hours after deposit in the U.S. Mail, first class postage prepaid and addressed to the party at its applicable address. Actual notice shall be deemed adequate notice on the date actual notice occurred, regardless of the method of service.

3.5.2 Indemnification.

3.5.2.1 Scope of Indemnity. To the fullest extent permitted by law, Contractor shall defend, indemnify and hold the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives free and harmless from any and all claims, demands, causes of action, suits, actions, proceedings, costs, expenses, liability, judgments, awards, decrees, settlements, loss, damage or injury of any kind, in law or equity, regardless of whether the allegations are false, fraudulent, or groundless, to property or persons, including wrongful death, (collectively, “Claims”) in any manner arising out of, pertaining to, or incident to any acts, errors or omissions, or willful misconduct of Contractor, its officials, officers, employees, subcontractors, consultants or agents in connection with the performance of the Services, the Project or this Agreement, including without limitation the payment of all expert witness fees, attorneys’ fees and other related costs and expenses except such Claims caused by the sole or active negligence or willful misconduct of the City.

3.5.2.2 Additional Indemnity Obligations. Contractor shall defend, with counsel of City’s choosing and at Contractor’s own cost, expense and risk, any and all Claims covered by this section that may be brought or instituted against the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives. In addition, Contractor shall pay and satisfy any judgment, award or decree that may be rendered against the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives as part of any such claim, suit, action or other proceeding.

Contractor shall also reimburse City for the cost of any settlement paid by the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives as part of any such claim, suit, action or other proceeding. Such reimbursement shall include payment for City’s attorney’s fees and costs, including expert witness fees.

Contractor shall reimburse the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers, and representatives, for any and all legal expenses and costs incurred by each of them in connection therewith or in enforcing the indemnity herein provided.

Contractor’s obligation to indemnify shall survive expiration or termination of this Agreement, and shall not be restricted to insurance proceeds, if any, received by the Contractor, the City, its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives.

3.5.3 Governing Law; Government Code Claim Compliance. This Agreement shall be governed by the laws of the State of California. Venue shall be in Riverside County. In addition to any and all Agreement requirements pertaining to notices of and requests for compensation or payment for extra work, disputed work, claims and/or changed conditions, Contractor must comply with the claim procedures set forth in Government Code sections 900 et seq. prior to filing any lawsuit against the City. Such Government Code claims and any subsequent lawsuit based upon the Government Code claims shall be limited to those matters that remain unresolved after all procedures pertaining to extra work, disputed work, claims, and/or changed conditions have been followed by Contractor. If no such Government Code claim is submitted, or if any prerequisite contractual requirements are not otherwise satisfied as specified herein, Contractor shall be barred from bringing and maintaining a valid lawsuit against the City.

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14 3.5.4 Time of Essence. Time is of the essence for each and every provision of this Agreement.

3.5.5 City’s Right to Employ Other Contractors. City reserves right to employ other contractors in connection with this Project.

3.5.6 Successors and Assigns. This Agreement shall be binding on the successors and assigns of the parties.

3.5.7 Assignment or Transfer. Contractor shall not assign, hypothecate or transfer, either directly or by operation of law, this Agreement or any interest herein without the prior written consent of the City. Any attempt to do so shall be null and void, and any assignees, hypothecates or transferees shall acquire no right or interest by reason of such attempted assignment, hypothecation or transfer.

3.5.8 Construction; References; Captions. Since the Parties or their agents have participated fully in the preparation of this Agreement, the language of this Agreement shall be construed simply, according to its fair meaning, and not strictly for or against any Party. Any term referencing time, days or period for performance shall be deemed calendar days and not work days. All references to Contractor include all personnel, employees, agents, and subcontractors of Contractor, except as otherwise specified in this Agreement. All references to the City include its elected or appointed officers, and their respective agents, officials, employees, volunteers and representatives except as otherwise specified in this Agreement. The captions of the various articles and paragraphs are for convenience and ease of reference only, and do not define, limit, augment, or describe the scope, content, or intent of this Agreement.

3.5.9 Amendment; Modification. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties.

3.5.10 Waiver. No waiver of any default shall constitute a waiver of any other default or breach, whether of the same or other covenant or condition. No waiver, benefit, privilege, or service voluntarily given or performed by a Party shall give the other Party any contractual rights by custom, estoppel or otherwise.

3.5.11 No Third-Party Beneficiaries. Except to the extent expressly provided for in Section 3.5.7, there are no intended third-party beneficiaries of any right or obligation assumed by the Parties.

3.5.12 Invalidity; Severability. If any portion of this Agreement is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect.

3.5.13 Prohibited Interests. Contractor maintains and warrants that it has not employed nor retained any company or person, other than a bona fide employee working solely for Contractor, to solicit or secure this Agreement. Further, Contractor warrants that it has not paid nor has it agreed to pay any company or person, other than a bona fide employee working solely for Contractor, any fee, commission, percentage, brokerage fee, gift or other consideration contingent upon or resulting from the award or making of this Agreement. For breach or violation of this warranty, City shall have the right to rescind this Agreement without liability. For the term of this Agreement, no member, officer or employee of City, during the term of his or her service DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 304
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15 with City, shall have any direct interest in this Agreement, or obtain any present or anticipated material benefit arising therefrom.

3.5.14 Cooperation; Further Acts. The Parties shall fully cooperate with one another and shall take any additional acts or sign any additional documents as may be necessary, appropriate or convenient to attain the purposes of this Agreement.

3.5.15 Authority to Enter Agreement. Contractor has all requisite power and authority to conduct its business and to execute, deliver, and perform the Agreement. Each Party warrants that the individuals who have signed this Agreement have the legal power, right, and authority to make this Agreement and bind each respective Party.

3.5.16 Counterparts. This Agreement may be signed in counterparts, each of which shall constitute an original.

3.5.17 Entire Agreement. This Agreement contains the entire Agreement of the parties with respect to the subject matter hereof, and supersedes all prior negotiations, understandings or agreements. This Agreement may only be modified by a writing signed by both parties.
[SIGNATURES ON NEXT PAGE]
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Contract No. C45130

SIGNATURE PAGE TO MAINTENANCE SERVICES AGREEMENT

BY AND BETWEEN THE CITY OF PALM DESERT
AND M & M SWEEPING, INC.

IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed on the day and year first above written.

CITY OF PALM DESERT
By:

L. Todd Hileman
City Manager
ATTEST:

By:

Anthony J. Mejia, MMC
City Clerk
APPROVED AS TO FORM:

By:

Best Best & Krieger LLP
City Attorney
M & M SWEEPING, INC.

By:

Its: President
Printed Name: Richard Juge III
QC: MN
Bonds: _________
Insurance:
_____
Initial Review
_____
Final Approval
DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 306
Contract No. C45130
Exhibit “A”
EXHIBIT “A”

SCOPE OF SERVICES

CITYWIDE SWEEPING SERVICES

1. SCOPE OF WORK
Street Sweeping Bids will be made on a unit basis. The curb mile shall be the basis for the contract unit price. A recent inventory of the streets involved in this service indicates there are approximately 250 curb miles to be swept on a biweekly (once every two weeks) basis.

Throughout the year, streets may be added or deleted, as new public developments arise or as streets become incorporated into other programs.

Parking lots Bids will be made on a per-parking lot basis. The City estimates there is a total of approximately 1,896,695 square feet of area to be swept on a biweekly (once every two weeks) basis. The approximate square footage of each parking lot is provided in the contract specifications solely for the purpose of assisting the bidder in determining a bid price. The bidder understands that the attached map covers all streets to be swept thoroughly and without exception.

Full compensation for direct and indirect costs (i.e., labor, supervision, tools, materials, equipment, fuel, water, transportation, and incidentals) required to perform the work and complete the required documentation and reporting shall be considered included in the contract bid priceper-item as listed in the Contractor’s Proposal Submission, and no additional compensation will be allowed therefor.

2. CONTRACT LOCATION
Attached and made part of the contract documents are exhibits including street names, City map, and parking lot maps to be swept.

3. SCHEDULING OF WORK
Street Sweeping in the City of Palm Desert shall be performed on weekdays only. Work is not permitted on City recognized Holidays. All street sweeping activities shall be coordinated with City’s waste collection service provider (currently Burrtec Waste Industries, Inc.) to avoid conflicting activities in any area.

The contractor shall provide City with a schedule for sweeping operations that will occur on the same day of the week whenever performed in each area. The Director of Public Works or designee shall approve the sweeping schedule and any changes. Operation of equipment shall be performed only during the time periods allowed, as follows:

Street Sweeping:

1. On residential streets or areas adjacent to residential areas, sweeping will not begin before 6:00 AM and will end by 5:00 PM.

2. The following areas Street sweeping on Palm Desert Drive North, Palm Desert Drive South, 42nd Avenue, Velie Way, Joni Drive, Corporate Way, Lennon Place, & Eclectic Street, shall commence at 4:00 a.m. and must be completed by 6:00 a.m.

3. Contractor shall notify City at least 24 hours in advance of any request to work outside the hours defined above.

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Exhibit “A”

4. Contractor shall notify City at least 24 hours in advance of any changes to the sweeping schedule.

5. Emergency work directed by City is not impacted by these restrictions.

Parking lot sweeping

1. Parking lot sweeping shall be performed at a time when the parking lot is at a minimum use (for example late evening or early morning prior to 6:00 a.m.) or as directed.

2. Contractor shall notify City at least 24 hours in advance of any request to work outside the agreed schedule.

3. Contractor shall notify City at least 24 hours in advance of any changes to the sweeping schedule.

4. Emergency work directed by City is not impacted by these restrictions.

4. EQUIPMENT AND LABOR
Contractor shall use and furnish, at its expense, all labor, supervision, equipment, transportation, and materials necessary for the satisfactory performance of the work set forth herein. The Contractor shall clean the streets of paper, dirt, sand, and all debris. Machinery and equipment used in the furtherance of the Agreement shall be modern, clean, and maintained in proper working condition at all times. All drivers shall have the necessary commercial license to operate the equipment on public streets.

Equipment used shall meet all requirements as set forth by the Air Quality Management District (AQMD) including but not limited to Rule 1186.1-Less Polluting Sweepers for alternative-fuel or less-polluting sweepers. Award shall not be made to bidders who do not meet this requirement.

All sweepers used on this contract shall be of mechanical broom type. For certain bike lanes, the City may allow the regenerative air type sweeper. At all times, the Contractor will have a reserved mechanical broom sweeper at their immediate disposal for any and all unforeseen repairs to their primary equipment.

Any sweeper used on this contract shall be equipped with a full-width directional amber Light emitting diode (LED) light bar on the back of the vehicle with strobe lights at the top of the sweeper for better visibility.

5. SWEEPING PERFORMANCE
The contractor is obligated to perform and uphold good paved-surface sweeping practices such as are considered the industry standard. Sweeping performance standards shall be subject to the approval of the Director of Public Works or designee.

Contractor shall be held to the following specific conditions:

1. Contractor shall remove all visible dust and debris including palm fronds from the curb, gutter, and roadway surfaces. Contractor shall sweep each intersection, corner radius, and turn pocket with the special attention needed to remove all sand and debris.

2. Contractor shall sweep areas where the depths of sand and debris are less than three inches at the curb face and less than four feet concentrated width from the curb face. Any accumulation of sand or debris outside of the above parameters will be handled outside this contract as a PM-10 post-event project.

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Exhibit “A”

3. Painted and curbed medians are included in the curb-mile calculation for this contract.

Contractor shall sweep painted medians in such a manner as to produce a clean, wellmaintained appearance across the width of the median. Contractor shall sweep raised, curbed medians to the same standards as other curbed surfaces.

4. Sweeping operations shall be conducted at a speed not to exceed eight miles per hour.

5. Contractor shall be notified of complaints received by City and shall take corrective action for each valid complaint within 24 hours of notification. Contractor shall notify the City after mitigation of each complaint, within 24 hours.

6. Contractor shall provide regular supervision to the sweeper operator to ensure quality sweeping services.

7. Contractor shall provide quarterly records of the supervision provided.

8. Contractor shall provide daily Global Positioning System (GPS) records of the completed daily sweeping services.

9. Contractor shall provide access to the GPS system for City staff to log in and monitor their start and end time, vehicle speed, and current location.

10. Contractor shall use a water sprayer to substantially control all dust issues.

11. Contractor shall manually remove debris from the gutter and/or street if necessary.

12. Contractor must have immediate access to a backup mechanical broom sweeper in the event of unforeseen mechanical failure and notify the CITY immediately.

13. Contractor shall respond to all city phone calls, e-mails, or text communication within 15 minutes or less.

14. Where areas exist that are not accessible by a sweeper machine, all visible debris, dirt, sand, or dust shall be hand-swept or blown out of the inaccessible area so that removal is made possible.

15. Coachella Valley (CV) Bike Link width must be swept thoroughly.

6. WATER
Contractor shall make arrangements for the use of fire hydrants with respective water providers and shall pay for all water used.

7. DISPOSAL OF SWEEPING DEBRIS AND REFUSE
Contractor shall dispose of all refuse collected by hauling the same to legally established disposal areas at its expense or by utilizing other disposal methods approved by City.

8. SAFETY PRACTICES AND CAL-OSHA
CONTRACTOR shall comply with Occupational Safety and Health Administration (OSHA), CalOSHA, and American National Standards Institute (ANSI) standards for the type of work being performed. CONTRACTOR shall plan and conduct work in a manner safeguarding all persons from injury and shall take all precautions required by applicable regulations of the State Department of Industrial Relations. Contract staff shall wear OSHA-approved safety equipment at all times during contract work.

Contractor shall supply all delineation, signing, and clothing as required by the State of California Department of Transportation.

If work along a public right-of-way will require the closure of a traffic lane, Contractor shall notify City at least 24 hours in advance and comply with the procedure outlined in the WATCH Manual.

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Exhibit “A”
Any traffic control such as furnishing, placing, and maintaining traffic cones, advance warning signs, flagmen, etc., shall be considered included in the contractor’s fee, and no additional compensation will be made therefor. No road closures will be permitted.

CONTRACTOR shall ensure that the public right-of-way is maintained at all times as needed to allow for the safe passage of vehicles, pedestrians, and/or the general public.

9. RESPONSIBILITY FOR JOB SITE CONDITIONS
CONTRACTOR agrees that, in accordance with generally accepted ANSI practices, CONTRACTOR will be required to assume sole and complete responsibility for job site conditions during the course of the work; including the safety of all persons and property, and that this requirement shall be made to apply continuously and shall not be limited to normal working hours.

10. DAMAGE TO PUBLIC OR PRIVATE PROPERTY
Should any structure or property, including landscape, be damaged during permitted or contracted operations the contractor conducting the work shall immediately notify the property owners and the Director of Public Works or his designee. Repairs to property damaged by the responsible party shall be made within twenty-four (24) hours, except utility lines, which shall PROMPTLY be reported to Southern California Edison. Repairs on private property shall be made in accordance with the appropriate building code under permits issued by the City of Palm Desert. Any damage caused by the permitted or contracted persons shall be repaired or restored by them at their expense to a condition similar or equal to that existing before such damage or injury, or they shall repair such damage in a manner acceptable to CITY. Special attention is drawn to sprinkler systems, manholes, and valve lids on all CITY property. Such repairs shall be completed within twenty-four (24) hours.

11. WORK PERFORMED ON PRIVATE PROPERTY
No Contracted Street sweeping shall be performed on private property.

12. DEBRIS REMOVAL & COMPOSTING OF GREEN WASTE
Contractor shall remove all debris from the work area on a daily basis. Stockpiling of debris will not be permitted unless prior approval has been obtained from the CITY. All dump and disposal fees shall be included in the bid proposal price.

CONTRACTOR is responsible for the proper disposal of all waste materials generated in the performance of this Agreement. All hazardous material will be disposed of in accordance with applicable laws and appropriate records maintained. CONTRACTOR shall submit on a weekly basis to the Director of Public Works or his designee, a listing of the landfill site(s) used and a gross weight slip from the facility, identifying CONTRACTOR by name, city of origin, and gross and tare weight.

13. ILLICIT DISCHARGES
CONTRACTOR shall identify to CITY any evidence of illegal or improper dumping as it is identified and again within the monthly report. Illegal or improper dumping reports shall include the date of the discovery, approximate location, and a general description of the material including the volume or weight measure of the debris removed. CONTRACTOR shall report information as noted by the operator regarding the condition, streets, drainage structures, and vehicle parking.

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Exhibit “A”

14. LIQUIDATED DAMAGES
Time is of the essence on this project. Should CONTRACTOR fail to finish the work on or before the time stated in the specifications, CONTRACTOR shall be charged by CITY as liquidated damages five hundred dollars ($500.00) for each calendar day that the work remains incomplete beyond the dates specified. The assessment of liquidated damages is intended to cover expenses incurred by CITY for additional inspection and administrative costs. Any amount so charged shall be deducted by CITY from any monies which otherwise are or become payable to CONTRACTOR.

In case all the work called for is not completed in all parts and to all requirements within the time specified, CITY shall have the right to grant or deny an extension of time for completion, as may be seem best to serve the interests of CITY. CONTRACTOR shall not be assessed with liquidated damages during the delay in the completion of the work caused by acts of God or of the Public Enemy, acts of the State, floods, epidemics, quarantine, restrictions, strikes, or unusually severe weather. CITY will ascertain the facts and the extent of the delay, and their findings thereon shall be final and conclusive.

15. MEASUREMENT, INVOICING, AND PAYMENT
Payment will not be made for any work that has been incorrectly or incompletely done as determined by the Director of Public Works or his designee and contract specifications.

CONTRACTOR will be responsible to correct any insufficiency prior to payment.

The City of Palm Desert reserves the right to increase or decrease the amount of work as may be deemed necessary or expedient to the Public Works Director or designee.

CITY will pay CONTRACTOR within thirty (30) calendar days of receipt of an approved invoice.

At the end of each month CONTRACTOR shall submit invoice(s) to CITY for contract work completed.

CONTRACTOR’S regular contract invoice shall include but not necessarily be limited to:
 Contract number
 Invoice number
 Invoice date
 Location(s) and dates of service
Invoices shall be submitted to the City of Palm Desert-Maintenance Services Division, 73-510 Fred Waring Drive, Palm Desert, California 92260. Invoices may also be emailed to the Public Works Department ([email protected]) in Adobe (PDF) format with the appropriate documentation.

16. GENERAL COMPLIANCE WITH LAWS
CONTRACTOR will keep fully informed of federal, state and local laws and ordinances and regulations which in any manner affect those employed by CONTRACTOR, or in any way affect the performance of the contract. CONTRACTOR will at all times observe and comply with these laws, ordinances, and regulations and will be responsible for the compliance of CONTRACTOR’s services with all applicable laws, ordinances, and regulations.

17. CONTRACT PRE-COMMENCEMENT CONFERENCE
DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 311
Contract No. C45130
Exhibit “A”
A pre-contract (pre-con) conference shall be conducted at the Palm Desert Corporation Yard, 74- 705 42nd Avenue, Palm Desert, California 92260, after the award of the bid and prior to the issuance of a Notice to Proceed with the contract. The job site foreman or superintendent assigned by CONTRACTOR for this project shall be present at the pre-contract meeting. At the pre-contract meeting CONTRACTOR will submit a preliminary schedule of work activities for review and approval.

The discussion shall include but not be limited to verification of orders; project supervision; onsite inspection; progress schedules and reports; payments to Contractor; safety; other anticipated issues pertinent to the project. CITY will issue the notice to proceed at the contract initiation meeting.

LOCATION OF WORK
Attached hereto and made a part hereof of the contract documents are exhibits including City Map and Parking Lot locations.

Parking Lot List & Approximate Square Footage
Description/Location of Parking Lot Approximate Sq. Ft
Aquatic Center ---------------------------------------------------------------------------------------------67,347 Civic Center Park ----------------------------------------------------------------------------------------221,167 Civic Center City Hall -----------------------------------------------------------------------------------149,104 Corporation Yard -----------------------------------------------------------------------------------------164,473 Entrada Del Paseo --------------------------------------------------------------------------------------118,079 Freedom Park ----------------------------------------------------------------------------------------------93,828 Hovley Soccer Park -------------------------------------------------------------------------------------132,066 Ironwood Park ----------------------------------------------------------------------------------------------16,254 Joe Mann Park ---------------------------------------------------------------------------------------------16,122 Magnesia Falls City Park --------------------------------------------------------------------------------31,450 Park View Office Complex ------------------------------------------------------------------------------90,569 Presidents Plaza 3 --------------------------------------------------------------------------------------221,648 Presidents Plaza East ----------------------------------------------------------------------------------146,343 Presidents Plaza West ---------------------------------------------------------------------------------140,863 San Pablo Corridor --------------------------------------------------------------------------------------287,382 Approximately Total Contract Square Footage -------------------------------------------1,896,695 DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 312
Contract No. C45130
Exhibit “A”
Street Sweeping Locations by Street Name
1 42nd Avenue
2 74 Frontage Rd n/o
Haystack
3 74 Frontage Rd East
4 74 Frontage Rd W
5 74 Frontage Rd e/o
Grapevine
6 A St
7 Abronia Trail
8 Acacia Dr
9 Academy Ln W
10 Adonis Dr
11 Alabama St
12 Alamo Dr
13 Alan Cir
14 Alaska St
15 Alessandro Alley
16 Alessandro Dr
17 Alpine Ln
18 Amaryllis Wy
19 Amber St
20 Ambrosia St
21 Anglewood Dr
22 Anita Cir
23 Arboleda Ave
24 Arrow Trail
25 Aster Dr
26 Audrey Cir
27 Avenida Arcada
28 Avenida Calafia
29 Avenida Estrada
30 Avenida Rosario
31 Avenida Solana
32 Baranda Ct
33 Barberry Ln
34 Beavertail St
35 Bel Air Rd
36 Beverly Dr
37 Birdie Wy
38 Black Rabbit Rd
39 Blazing Star Ln
40 Blueberry Ln
41 Borrego Dr
42 Brighton St
43 Broken Arrow Trail
44 Brushwood Dr
45 Buckboard Trail
46 Buena Cir
47 Burroweed Ln
48 Bursera Wy
49 Buttonwood Dr
50 Cabana Ct
51 Cabrillo Ave
52 Cactus Dr
53 Cahuilla Wy
54 Calico Cactus Ln
55 California Ave
56 CallaWy Ct
57 Calliandra St
58 Candlewood St
59 Canterbury Ct
60 Cardiff St
61 Carlotta Dr
62 Carmel Cir
63 Caroline Ct
64 Catalina Wy
65 Centennial Cir
66 Chia Dr
67 Chicory St
68 Chinook Cir E
69 Chinook Cir W
70 Cholla Dr
71 Christian St
72 Clifford St
73 Clifton Forge St
74 Colebridge St
75 College Dr
76 College View Cir E
77 College View Cir W
78 Columbine Cir
79 Connecticut St
80 Coral Bells Cir
81 Coral Gables Ct
82 Corporate Wy
83 Cosmopolitan Lane
84 Corte Placitas
85 Cortesia Wy
86 Covered Wagon Trail
87 Crestview Dr
88 Daisy Ln
DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 313
Contract No. C45130
Exhibit “A”
89 Davis Rd
90 Day Lily Cir
91 De Anza Wy
92 Deep Cyn Rd
93 Deergrass Dr
94 Del Coronado Dr
95 Delaware Place
96 Dempsey Dr
97 Desert Holly St
98 Desert Lily Dr
99 Desert Mirage
100 Desert Rose Dr
101 Desert Star Blvd.
102 Desert View Dr
103 Desert Willow Dr
104 Devonshire St
105 Diamondback Rd
106 Dinah Shore e/o Portola to
Gerald Ford
107 Dinah Shore w/o Gerald
Ford to Portola
108 Dolce Ave
109 Dolmar Ct
110 Drexell Dr
111 Driftwood Dr
112 Driscoll St
113 Dudley Dr
114 Duval Ct
115 Eagle Rd
116 Easy St
117 Eclectic St
118 Edgehill Dr
119 Edinborough St
120 El Camino
121 El Cortez Wy
122 Emerson Dr
123 Enfield Ln
124 Entrepreneur Ln
125 Ephedra Ln
126 Erin St
127 Faber Cir
128 Fairhaven Dr
129 FairWy Dr
130 Falcon Ln
131 Feather Trail
132 Fiddleneck Ln
133 Flagstone Ln
134 Florida Ave
135 Florine Ave
136 Foxhill Ct
137 Freedom Ct
138 Garand Ln
139 Garden Square
140 Gary Ave
141 Gazania Place
142 Georgia St
143 Gloriana Dr
144 Golden Bush Ct
145 Golden Eagle
146 Goldenrod Ln
147 Goldflower St
148 Goleta Ave
149 Grand Cyn
150 Grapevine St
151 Greene Wy
152 Guadalupe Ave
153 Hastings St
154 Hawaii Cir
155 Haystack Rd
156 Hazel Cyn
157 Hedgehog St
158 Heitz Ct
159 Heliotrope Rd
160 HemingWy Ct
161 Hermosa Ln
162 Hollister Dr
163 Homestead Rd
164 Hovley Ct
165 Hovley Gardens
166 Hovley Ln W
167 Idaho St
168 Illinois Ave
169 Imperial Court West
170 Imperial Court East
171 Indian Cyn
172 Indian Hills Wy
173 Indiana Ave
174 Iowa St
175 Ironwood St
176 Jameson Rd
177 Jeri Ln
178 Joni Dr
179 Joshua Rd
180 Joshua Tree St
181 Julie Ln
182 Juniper St
183 Kansas St
DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 314
Contract No. C45130
Exhibit “A”
184 Kelsey Cir
185 Kelsey Ct
186 Kentucky Ave
187 King Fisher Cir
188 Kings Cyn
189 Kingston Court West
190 Kingston Court Eest
191 Kokopelli Cir E
192 Kokopelli Cir W
193 Krug Ave
194 Lantana Ave
195 Larkspur Ln
196 Larrea St
197 Las Palmas Ave
198 Latisha Ln
199 Lavender Wy
200 Lennon Place
201 Leslie Ave
202 Little Ben Trail
203 Loma Vista Rd
204 Lotus Ct
205 Louisiana St
206 Lupine Ln
207 Magnesia Falls Dr
208 Manzanita Dr
209 Marigold Dr
210 Market Place
211 Martini Ct
212 Maryn Ct
213 Mason St
214 Melanie Place
215 Merle Dr
216 Mesa View Dr
217 Mimosa Dr
218 Minnesota Ave
219 Miriam Wy
220 Missouri Dr
221 Mondavi Ct
222 Monte Verde Dr
223 Montgomery Ln
224 Moon Ln
225 Moonflower Ct
226 Moss Rose Dr
227 Mountain View
228 Mountain View Ave
229 Myrsine Ave
230 New York Ave
231 Nolina Ct
232 North View Dr
233 Oasis Club Dr
234 Ocotillo Dr
235 Ohio Ct
236 Oklahoma Ave
237 Old Prospector Trail
238 Olive Ct
239 Olympic Dr
240 Opal Dr
241 Orange Blossom
242 Orchid Tree Ct
243 Oregon Cir
244 Pacific Ave
245 Painters Path
246 Palm Desert Dr N
247 Palm Desert Dr S
248 Palmilla Dr
249 Panorama Dr
250 Park Center Dr
251 Parkview Dr
252 Parosella St
253 Pepper Tree Dr
254 Peppergrass St
255 Periwinkle Ct
256 Perris Ln
257 Petunia E
258 Petunia W
259 Phyllis Jackson
260 Pinyon St
261 Pitahaya St
262 Plaza Wy
263 Portola n/o Mesa View to El
Paseo
264 Portola s/o El Paseo to
Mesa View
265 Posada Ct
266 Prairie Dr
267 Prickly Pear Ln
268 Primrose Ave
269 Princes Plume Ln
270 Purs Ln St
271 Quail Hollow Dr
272 Quailbrush Ave
273 Ramona Ave
274 Rancho Grande Dr
275 Rancho Rd
276 Raven Rd
277 Rebecca Rd
DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 315
Contract No. C45130
Exhibit “A”
278 Regency Wy
279 Riata Trail
280 Robin Rd
281 Rockrose Ct
282 Rose Sage Ct
283 Royal Cyn Ln
284 Royal Palm Dr
285 Rutledge Wy
286 Ryway Place
287 Sage Ln
288 Sagebrush Dr
289 Sagewood Dr
290 Salt Cedar St
291 San Anselmo Ave
292 San Antonio Cir
293 San Bonito Cir
294 San Carlos Ave
295 San Clemente Cir
296 San Gorgonio Wy
297 San Jacinto Ave
298 San Jose Ave
299 San Juan Ave
300 San Juan Dr
301 San Luis Rey Ave
302 San Marcos Ave
303 San Marino Cir
304 San Marino Wy
305 San Mateo Ave
306 San Nicholas Ave
307 San Onofre Ave
308 San Pablo Ave
309 San Pascual Ave
310 San Rafael Ave
311 Sand Castle Ln
312 Sand Sage Ct
313 Sandpiper Ct
314 Sandpiper Ct W
315 Santa Anita Ave
316 Santa Margarita Ave
317 Santa Rosa Wy
318 Santa Ynez Ave
319 Santolina Dr
320 Sebastiani Wy
321 Setting Sun Trail
322 Shadow Hills Rd
323 Shadow Lake Dr
324 Shadow Mountain Dr
325 Shady View Dr
326 Shepherd Ln
327 Sheryl Ave
328 Sierra Vista Dr
329 Siesta Trail
330 Silk Tree Ln
331 Silktree Ct
332 Silver Ln
333 Silver Moon Trail
334 Silver Spur Trail
335 Skyward Wy
336 Somera Rd
337 Sonata Ct
338 Sonora Dr
339 Springfield Ln
340 Spider Circle
341 Spyglass Ln
342 Stephanie Cir
343 Stony Hill Ct
344 Stony Hill St
345 Straw Flower Cir
346 Sugarbush Ct
347 Summit View Dr
348 Sun Corral Trail
349 Sun Ln
350 Sun Valley Ln
351 Sundown Ln
352 Sunrise Ln
353 Sunset Ln
354 Susan Cir
355 Sussex St
356 Sweetbush Ln
357 Tamarisk Row
358 Tamarisk St
359 Tampico Dr
360 Technology Dr
361 Tennessee Ave
362 Terraza Dr
363 Texas Ave
364 Theodora Ln
365 Thrush Dr
366 Timothy Cir
367 Toro Peak Rd
368 Towne Center Wy
369 Tumbleweed Ln
370 University Dr
371 Utah Cir
372 Valley View Dr
373 Vanda Cir
DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 316
Contract No. C45130
Exhibit “A”
374 Velardo Dr
375 Velie Dr
376 Ventana Ct
377 Verba Santa Dr
378 Verdin Ln
379 Via Fonda
380 Virginia Ave
381 Vista Viejo
382 Warbler Wy
383 Waring Ct
384 Warner Trail
385 Water Lily Cir
386 White Dr
387 Whitestone Ln
388 Wildflower Ln
389 Willington Rd
390 Willow St
391 Wingfoot Dr
392 Wisconsin Ave
393 Woodward Dr
394 Wyoming Ave
395 Yellow Sage Dr
396 York St
397 Yucca Tree Dr
DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 317
Contract No. C45130
Exhibit “B”
EXHIBIT “B”

SCHEDULE OF SERVICES
The term of this agreement shall be from July 1, 2023, to June 30, 2026, unless earlier terminated as provided herein. The City shall have the unilateral option, at its sole discretion, to renew this agreement automatically for no more than two additional one-year terms. Contractor shall complete the Services within the term of this Agreement and shall meet any other established schedules and deadlines. The Parties may, by mutual, written consent, extend the term of this agreement if necessary to complete the services.

DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 318
Contract No. C45130
Exhibit “C”
Revised 11-2-20
BBK 72500.00001\32374915.1
EXHIBIT “C”

COMPENSATION
Line Item Description – Street Sweeping Qty Unit of
Measure
Unit
Cost Total
1 Citywide Street Sweeping Annual Total (250
Curb Miles x 26 Sweepings/year x Unit Cost
of Curb Mile)
6500 Curb
Mile $28.25 $183,625.00
Total $183,625
Line Item Description - Parking Lots Qty Unit of
Measure
Unit
Cost Total
1 Aquatic Center 12 Month $140.00 $1,680.00
2 Civic Center Park 12 Month $456.00 $5,472.00
3 Civic Center City Hall 12 Month $308.00 $3,696.00
4 Corporation Yard 12 Month $340.00 $4,080
5 Entrada Del Paseo 12 Month $247.00 $2,964
6 Freedom Park 12 Month $196.00 $2,352
7 Hovley Soccer Park 12 Month $274.00 $3,288
8 Ironwood Park 12 Month $40.00 $480.00
9 Joe Mann Park 12 Month $40.00 $480.00
10 Magnesia Falls City Park 12 Month $66.00 $792.00
11 Park View Office Complex 12 Month $188.00 $2,256.00
12 Presidents Plaza East 12 Month $303.00 $3,636.00
13 Presidents Plaza West 12 Month $290.00 $3,480.00
14 Presidents Plaza 3 12 Month $458.00 $5,496.00
15 San Pablo Corridor 12 Month $595.00 $7,140.00
Total $47,292.00
DocuSign Envelope ID: 34B76052-6486-4E07-9DDB-D02BCE6256AE 319
320

CITY OF PALM DESERT

CONTRACT CHANGE ORDER
Justification:

Contract No / P.O. #:

Change Order No.:

Contingency: YES NO
Account No.:

Project No.:

Vendor No.:

Description of Changes Decrease
In Contract Price
Increase
In Contract Price
Totals:

Net Change in Contract Price:

Original Contract Amount: +
Contingency: +
Total Budget Amount:

Less: Expend. / Encumb. To Date: -
Less: This Change Order Amount: -
Remaining for Project:

Contingency: +
Less: Prior Change Order(s): -
Less: This Change Order: -
Remaining of Contingency:
__________________________________________________________ dollars and ___/100 (___________) Revised Contract Total: ___________________________
Contractor shall construct, furnish all supervision, labor, services, equipment, and materials, and perform all work necessary or required to fully complete the changes to the Contract described in this Change Order for the amount agreed upon between the Contractor and the City of Palm Desert (“City”).

Contract Purpose:

Contractor Name:

C45130 1
Various MST00010 Citywide Street Sweeping Services M&M Sweeping, Inc. CPI increase approximately 4.45% $ 10,283.00 $ 0.00 $ 10,283.00 $ 10,283.00 CPI increase of approximately 4.45% due to increase in material, labor and insurance costs for a total monthly cost of $20,100.
$ 230,917.00 $ 0.00 $ 230,917.00 $ 230,917.00 $ 10,283.00 -$ 10,283.00 $ 0.00 $ 0.00 $ 10,283.00 -$ 10,283.00 The amount of the contract will be increased by the sum of: Ten Thousand Two Hundred Eighty-Three 00 $ 10,283.00 $ 241,200.00 Docusign Envelope ID: F6827E57-F610-44B3-B7F6-9D0725052A85 321
Continued from Front
Contract No. _________ Contract Change Order No. ___
Contract Time Extension: __________________________
Contractor accepts the terms and conditions stated above as full and final settlement of any and all claims arising out of or related to the subject of this Change Order and acknowledges that the compensation (time and cost) set forth herein comprises the total compensation due for the work or change defined in the Change Order, including all impact on any unchanged work. Execution of this Change Order by the Contractor constitutes a binding accord and satisfaction that fully satisfies, waives, and releases the City from all claims, demands, costs, and liabilities, in contract, law or equity, arising out of or related to the subject of the Change Order, whether known or unknown, including but not limited to direct and indirect costs and/or damages for delay, disruption, acceleration, loss of productivity, and stacking of trades, as well as any and all consequential damages. The adjustments to the Contract Price and Contract Time in this Change Order constitute the entire compensation and/or adjustment thereto due to Contractor, including but not limited to all direct, indirect, consequential, profit, labor, equipment, tools, idle time, incidentals, and overhead (field and home office) costs, due to Contractor arising out of or related to the change in the work covered by this Change Order. The Contractor hereby releases and agrees to waive all rights, without exception or reservation of any kind whatsoever, to file any further claim or request for equitable adjustment of any type, for any reasonably foreseeable cause that shall arise out of, or as a result of, this Change Order and/or its impact on the remainder of the work under the Contract. This Change Order will become a supplement to the Contract and all provisions will apply hereto.

1. REQUESTED BY: ______________________
Department Director 2. ACCEPTED BY: ______________________Contractor

3. CERTIFIED FUNDS

AVAILABLE
______________________
Finance Director 4. APPROVED BY: ______________________City Manager NOTE: No payments will be made prior
to City Manager or Council approval
QC: _____
C45130 1
n/a
Docusign Envelope ID: F6827E57-F610-44B3-B7F6-9D0725052A85 322
323
324
325
326

CITY OF PALM DESERT

CONTRACT CHANGE ORDER
Justification:

YES NO
Description of Changes Decrease
In Contract Price
Increase
In Contract Price
Totals:

Net Change in Contract Price:

Original Contract Amount: +
Contingency: +
Total Budget Amount:

Less: Expend. / Encumb. To Date: -
Less: This Change Order Amount: -
Remaining for Project:

Contract Purpose:

Contractor Name:

Contract No / P.O. #:

Change Order No.:

Contingency:

Account No.:

Project No.:

Vendor No.:

YES NO
Project Manager:

This Change Order is hereby executed on:

C45130 New 2
Various MST00010 V0001313 Citywide Street Sweeping Services M&M Sweeping, Inc. David Reyes, Jr. July 10, 2025 CPI Increase 4.5% $ 10,800.00 $ 0.00 $ 10,800.00 $ 10,800.00 Consumer Price Index (CPI) increase of approximately 4.5% due to escalating operational expenses. $ 230,917.00 $ 230,917.00 $ 241,200.00 $ 10,800.00 -$ 21,083.00 $ 10,283.00 $ 10,800.00 -$ 21,083.00 ✔ The amount of the contract will be increased by the sum of: Twenty One Thousand Eighty Three 00 $ 21,083.00 $ 252,000.00 Docusign Envelope ID: 26550DBA-B119-4096-AC17-3994556B5447 327
Continued from Front
Contract No. _________ Contract Change Order No. ___
Contract Time Extension: __________________________
Contractor accepts the terms and conditions stated above as full and final settlement of any and all claims arising out of or related to the subject of this Change Order and acknowledges that the compensation (time and cost) set forth herein comprises the total compensation due for the work or change defined in the Change Order, including all impact on any unchanged work. Execution of this Change Order by the Contractor constitutes a binding accord and satisfaction that fully satisfies, waives, and releases the City from all claims, demands, costs, and liabilities, in contract, law or equity, arising out of or related to the subject of the Change Order, whether known or unknown, including but not limited to direct and indirect costs and/or damages for delay, disruption, acceleration, loss of productivity, and stacking of trades, as well as any and all consequential damages. The adjustments to the Contract Price and Contract Time in this Change Order constitute the entire compensation and/or adjustment thereto due to Contractor, including but not limited to all direct, indirect, consequential, profit, labor, equipment, tools, idle time, incidentals, and overhead (field and home office) costs, due to Contractor arising out of or related to the change in the work covered by this Change Order. The Contractor hereby releases and agrees to waive all rights, without exception or reservation of any kind whatsoever, to file any further claim or request for equitable adjustment of any type, for any reasonably foreseeable cause that shall arise out of, or as a result of, this Change Order and/or its impact on the remainder of the work under the Contract. This Change Order will become a supplement to the Contract and all provisions will apply hereto.

1. REQUESTED BY: ______________________
Department Director 2. ACCEPTED BY: ______________________Contractor

3. CERTIFIED FUNDS

AVAILABLE
______________________
Finance Director 4. APPROVED BY: ______________________ Interim City Manager
NOTE: No payments will be made prior
to City Manager or Council approval
QC: _____
C45130 2
N/A
MN
Docusign Envelope ID: 26550DBA-B119-4096-AC17-3994556B5447 328
Contract No. C45131
1 Rev 04-26
72500.00001\44340560.1
AMENDMENT NO. 1 TO THE MAINTENANCE SERVICES AGREEMENT

BY AND BETWEEN THE CITY OF PALM DESERT
AND M & M SWEEPING, INC.

1. Parties and Date.

This Amendment No. 1 (“Amendment”) to the Maintenance Services Agreement, Contract No. C45130, is made and entered into on August 20, 2026, by and between the City of Palm Desert, a municipal corporation organized under the laws of the State of California with its principal place of business at 73-510 Fred Waring Drive, Palm Desert, California, 92260-2578 (“City”) and M & M Sweeping, Inc., an S Corporation, with its principal place of business at 72152 Northshore St, Unit B, Thousand Palms, CA 92256 (“Contractor”). City and Contractor are sometimes individually referred to as “Party” and collectively as “Parties.”

1.1 City Council Approval. On April 27, 2023, City Council approved the award of this Amendment to Contractor named above.

2. Recitals.

2.1 Agreement. The City and M & M Sweeping, Inc., entered into a Maintenance Services Agreement (“Agreement”) on April 27th, 2023, for the purpose of retaining the services of M & M Sweeping, Inc., for Citywide Street Sweeping Services Project (“Project”).

2.2 Amendment Authority. This Amendment is authorized pursuant to 3.5.9 of the Maintenance Services Agreement.

2.3 The purpose of this Amendment No. 1 is to extend term and increase annual compensation.

3. Terms. The Agreement is hereby amended as follows:

Section 4 Term. The term of this agreement shall be from July 1, 2026 to June 30, 2027, unless earlier terminated as
provided herein. The City shall have the unilateral
option, at its sole discretion, to renew this Agreement automatically for no more than one additional one-year
term.

Section 5 Compensation. Vendor shall receive compensation for Services rendered under this Agreement at the rates set forth in Exhibit "C" attached hereto and incorporated
herein by this reference. The total compensation shall
not exceed Two Hundred Seventy Thousand and
00/100 Dollars ($270,000.00) per fiscal year
(“Agreement Price”). Vendor’s invoices shall include a
329
Contract No. C45131
2 Rev 04-26
72500.00001\44340560.1
detailed description of the Services performed. Invoices shall be submitted to the City on a monthly basis. The
City shall review and pay all non-disputed and approved charges on such invoices in a timely manner. Vendor
shall submit its final invoice to the City within thirty (30) days from the last date of Services performed and
failure to do so shall result in a waiver of payment
from the City.

3.1 Continuing Effect of Agreement. Except as amended by this Amendment No. 1, all other provisions of the Agreement remain in full force and effect and shall govern the actions of the Parties under this Amendment No. 1. From and after the date of this Amendment No. 1, whenever the term “Agreement” appears in the Agreement, it shall mean the Agreement as amended by this Amendment No. 1.

3.2 Adequate Consideration. The Parties hereto irrevocably stipulate and agree that they have each received adequate and independent consideration for the performance of the obligations they have undertaken pursuant to this Amendment No. 1.

3.3 Severability. If any portion of this Amendment No. 1 is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect.
[SIGNATURES ON FOLLOWING PAGE]
330
Contract No. C45131
3 Rev 04-26
72500.00001\44340560.1
SIGNATURE PAGE FOR AMENDMENT NO. 1

TO THE MAINTENANCE SERVICES AGREEMENT BETWEEN THE CITY OF PALM DESERT
AND M & M SWEEPING, INC.,

CITY OF PALM DESERT

Chris Escobedo
City Manager
Attest:

Anthony J. Mejia
City Clerk
Approved to form by:
____________________________
Isra Shah
City Attorney
M & M SWEEPING, INC., AN S

CORPORATION

Richard Judge III
President
Office Use:

Quality Check Insurance Review
City Clerk Contracts Initial Final
331
332
EXHIBIT “C”

COMPENSATION
Street Sweeping
Line
Item
Description Est. Qty Unit of Measure Unit Cost Est. Annual Amount
1 Citywide Street
Sweeping Annual Total
(250 Curb Miles x 26
Sweepings/year x Unit
Cost of Curb Mile)
6,500 Curb Mile $32.88 $213,720.00
Total $213,720.00
Parking Lots / Additional Service Area
Line
Item
Description Est. Qty Unit of Measure Unit Cost Est. Annual Amount
1 Aquatic Center 12 Month $162.97 $1,955.64
2 Civic Center Park 12 Month $530.81 $6,369.72
3 Civic Center City Hall 12 Month $358.53 $4,302.36
4 Corporation Yard 12 Month $395.78 $4,749.36
5 Entrada Del Paseo 12 Month $287.52 $3,450.24
6 Freedom Park 12 Month $228.15 $2,737.80
7 Hovley Soccer Park 12 Month $318.95 $3,827.40
8 Ironwood Park 12 Month $46.56 $558.72
9 Joe Mann Park 12 Month $46.56 $558.72
10 Magnesia Falls City
Park
12 Month $76.83 $921.96
11 Park View Office
Complex
12 Month $218.84 $2,626.08
12 Presidents Plaza East 12 Month $352.71 $4,232.52
13 Presidents Plaza West 12 Month $337.58 $4,050.96
14 Presidents Plaza 3 12 Month $533.14 $6,397.68
15 San Pablo Corridor 12 Month $695.07 $8,340.84
16 Technology Drive
Extension
12 Month $100.00 $1,200.00
Total $56,280.00
333
334

Page 1 ends

Palm Desert City CouncilAugust 20, 2026

Palm Desert City Council
August 20, 2026