REMOTE LOCATION: Councilmember Bettencourt will be participating via teleconference from her Council office located at 38300 Sierra Highway, Suite A, Palmdale, CA 93550, pursuant to Government Code Section 54953, et. al.
The Council Chamber is open for in-person public comment and seating.
Councilmembers may choose to participate via conference call.
How to observe the meeting virtually:
1. Spectrum local access Channel 27
2. Online live webcast at www.cityofpalmdale.org.
How to Submit Public Comments:
VERBAL PUBLIC COMMENT DURING THE MEETING – ZOOM Number: US: +1 720 707 2699 Webinar ID: 853 5671 2438 Passcode: 431445
Webinar attendee link
https://us06web.zoom.us/j/85356712438?
pwd=WG00Wk5qcytPbGFOMFpWU0dlUXlJQT09
.
Verbal comments must be limited to three (3) minutes. Public comments submitted will
CITY COUNCIL MEETING
SUCCESSOR AGENCY
REVISED
CITY COUNCIL CHAMBERS
38300 SIERRA HIGHWAY
SUITE B
PALMDALE, CA 93550
WEDNESDAY, MAY
4, 2022
5:00 p.m.
7:00 p.m.
www.cityofpalmdale.org
WELCOME
City Council
Wednesday, May
4, 2022
become part of the official meeting record.
The safety and well-being of employees and the public remains the City's top priority. The City of Palmdale appreciates your patience and understanding during these challenging times.
The City Council is making every effort to follow the spirit and intent of the Brown Act and other applicable laws regulating the conduct of public meetings in order to maximize transparency and public access.
In accordance with the Americans with Disabilities Act of 1990, if you require a disability- related modification or accommodation to participate in this meeting, please contact the City Clerk’s Office at (661) 267-5151 at least 72 hours prior to the meeting.
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Please refrain from public displays or outbursts, such as unsolicited applause, comments, cheering, foul language or obscenities.
Any disruptive activities that substantially interfere with the ability of the City Council to carry out its meeting will not be permitted and offenders will be asked to leave the meeting.
Please turn off/mute your cell phones and mobile devices.
5:00 P.M.
1. MAYOR TO CALL MEETINGS TO ORDER
2. ROLL CALL
MAYOR HOFBAUER, MAYOR PRO TEM LOA,
COUNCILMEMBERS CARRILLO, BISHOP, BETTENCOURT
3. PUBLIC COMMENTS
Now is the time for public participation for any person wishing to speak to the City Council on matters listed or not listed on the agenda, within the jurisdiction of the City Council. If you are attending the meeting by phone, please press *9 to "raise your hand." If attending by personal computer, please click the "raise your hand" button. Press *6 to un-mute yourself, state your name and begin speaking. PLEASE NOTE: A three-minute limit is imposed on each speaker.
City Council
Wednesday, May
4, 2022
4. PRESENTATION BY CITY ATTORNEY
4.1 This Closed Session is being held pursuant to the authority of California Government Codes Section 54957.
PUBLIC EMPLOYEE DISCIPLINE/DISMISSAL RELEASE
PUBLIC EMPLOYEE PERFORMANCE EVALUATION
Title: City Attorney
4.2 This Closed Session is being held pursuant to California Government Code 54957.
APPOINTMENT OF PUBLIC EMPLOYEE
Position: Acting/Interim City Attorney
4.3 CONFERENCE WITH LEGAL COUNSEL—EXISTING LITIGATION
Ricci v. City of Palmdale, et al.
Los Angeles County Superior Court
Case No. 22STCV01269
This closed session is being held pursuant to the authority of California Government Code Section 54956.9(d)(1).
4.4 CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION The existing facts and circumstances that constitute a significant exposure to litigation are detailed in the following claim received by the City, which is available for public inspection pursuant to Government Code Section 54957.5:
Claimant: Shanae Smith
City Claim No.: 2022-005
Date Filed: 1/10/22
Date of Loss: Various
4.5 CONFERENCE WITH LEGAL COUNSEL - ANTICIPATED LITIGATION Initiation of litigation pursuant to paragraph (4) of subdivision (d) of Section 54956.9 of the California Government Code.
Number of Cases: One.
City Council
Wednesday, May
4, 2022
4.6 CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION The existing facts and circumstances that constitute a significant exposure to litigation are detailed in the following claim received by the City, which is available for public inspection pursuant to Government Code Section 54957.5:
Claimant: Michael Behen
City Claim No.: 2022-008
Date Filed: 02/09/22
Date of Loss: Various
4.7 CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION The existing facts and circumstances that constitute a significant exposure to litigation are detailed in the following claim received by the City, which is available for public inspection pursuant to Government Code Section 54957.5:
Claimant: Patricia Nevarez
City Claim No.: 2022-005
Date Filed: 1/27/22
Date of Loss: Various
4.8 CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION Significant exposure to litigation pursuant to paragraph (2) of subdivision (d) of Section 54956.9: One.
A point has been reached where, in the opinion of the City on the advice of the City Attorney, based on existing facts and circumstances, there is a significant exposure to litigation against the City. The City believes that the facts and circumstances that might result in litigation against the City are not yet known to a potential plaintiff or plaintiffs.
4.9 CONFERENCE WITH LABOR NEGOTIATORS
City representatives: Steve Hofbauer, Mayor
Unrepresented employee: Christopher Beck, City Attorney
This Closed Session is being held pursuant to the authority of California Government Code Section 54957.6.
4.10 CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION Significant exposure to litigation pursuant to paragraph (2) of subdivision (d) of Section 54956.9: One.
A point has been reached where, in the opinion of the City on the advice of the City Council
Wednesday, May
4, 2022
City Attorney, based on existing facts and circumstances, there is a significant exposure to litigation against the City. The City believes that the facts and circumstances that might result in litigation against the City are not yet known to a potential plaintiff or plaintiffs.
5. ANNOUNCEMENT BY CITY ATTORNEY
6. ADJOURN CLOSED SESSION MEETING
7:00 P.M.
7. PLEDGE OF ALLEGIANCE AND MOMENT OF SILENCE IN HONOR OF OUR TROOPS
8. PRESENTATIONS
8.1 Presentation of a cute critter available for adoption at the Palmdale Animal Care Center.
8.2 Presentation of a Certificate of Recognition by Mayor and Council to Abigail Valdez for dedicated service to the California Rainbow Girls.
8.3 Presentation of a Proclamation by Mayor and Council declaring May as Asian Pacific American Heritage Month in the City of Palmdale.
8.4 Presentation of a Proclamation by Mayor and Council declaring May as National Melanoma/Skin Cancer Awareness Month in the City of Palmdale.
8.5 Presentation of a Proclamation by Mayor and Council declaring May as National American Stroke Month in the City of Palmdale.
9. WAIVER OF FULL READING OF RESOLUTION(S) and ORDINANCE(S) Staff Recommendation: Move to waive full reading of the Resolution (s) and/or Ordinance(s) to be considered and voted on at this meeting. (Voice Vote - Requires a majority to waive.)
10. PUBLIC COMMENTS
Now is the time for public participation for any person wishing to speak to the City Council on matters listed or not listed on the agenda, within the jurisdiction of the City Council. If you are attending the meeting by phone, please press *9 to "raise your hand." If attending by personal computer, please click the "raise your hand" button. Press *6 to un-mute yourself, state your name and begin speaking. PLEASE NOTE: A three-minute limit is City Council
Wednesday, May
4, 2022
imposed on each speaker.
11. CONSENT CALENDAR
All matters listed under the Consent Calendar will be enacted by one motion unless an item(s) is pulled by Council, in which case the item(s) will be removed from the Calendar and will be considered separately following this portion of the Agenda.
11.1 Receive and file the monthly and quarterly investment activity reports for March 2022. (Staff Reference: Director of Finance Samson)
01. Staff_Report_-_Investment_Report_March_2022.docx
02. Mar 2022 Investment Report.pdf
11.2 Receive and file the Annual Report on Development Impact Fees for Fiscal Year Ended June 30, 2021 and adopt findings to commit funds held in the Littlerock Drainage Fee Fund, Fire Facilities Fund, and the Sewer Upgrade Fund. (Staff Reference: Director of Finance Samson)
1. Staff Report - Development Impact Fee Report FY21.docx
2. Palmdale Dev Fee Report 2021 Final AB1600.pdf
11.3 Approve the Power Charge Indifference Adjustment Voluntary Allocation of Long- Term Renewable Energy Portfolio from Southern California Edison and authorize the Interim City Manager to Execute the Voluntary Allocation Agreement on behalf of Energy for Palmdale's Independent Choice. (Staff Reference: Director of Finance Samson - Presented by Energy Resource Manager Salt)
20220504_Palmdale Staff Report Final 2_A-7933 EPIC CCA PCIA Allocation Approval_TS_CD.docx
VA Agreement.pdf
11.4 Adopt Resolution No. CC 2022-049, a Resolution of the City Council of the City of Palmdale designating by title and name those officials who are authorized to sign checks and warrants and repeal Resolution No. CC 2021-089.(Staff Reference:
Director of Finance Samson)
1. Staff Report - Check Signers CITY 05.04.22.docx
2. Resolution 2022-049 - Check Signers CITY 05.04.22.docx
11.5 Receive and file the Annual Comprehensive Financial Report for the Year Ended June 30, 2021 for the City of Palmdale. (Staff Reference: Director of Finance Samson)
Staff Report ACFR 06.30.21.docx
01. FINAL ACFR 2021 v2.pdf
02. City of Palmdale 2021 Final Governance Letter.pdf
11.6 Approve agreement with NBS Government Finance Group to provide bonded Community Facility District formation services with landowner vote, in an amount City Council
Wednesday, May
4, 2022
not to exceed $91,000 for a two-year term. (Staff Reference: Director of Finance Samson)
Staff_Report_-_Agreement_A-7921_NBS_Govt_Finance_Group__1__FINAL.docx
Palmdale A-7921 CFD Form & Bond Iss Discl 4-18-22 Signed by NBS.pdf
11.7 Adopt Resolution No. SA 2022-003 a Resolution of the Successor Agency to the Community Redevelopment Agency of the City of Palmdale designating, by title and name, those officials who are authorized to sign checks and warrants and repealing Resolution No. SA 2021-006. (Staff Reference: Director of Finance Samson)
1._Staff_Report_-_Check_Signers_SA_05.04.22.docx
2. Resolution 2022-003 Check Signers SA 05.04.22.docx
11.8 Award Measure AV Grant Program Funding, totaling $1,306,810, to grantees in Exhibit A and authorize Interim City Manager to enter into agreements ranging from $2,000 to $250,000. (Staff Reference: Interim City Manager Perez, Deputy Director of Parks and Recreation Dombrowski and Management Analyst Kelley)
Staff Report-Award Measure AV Grant Funding 05042022 FINAL.docx
Final Awardee List 2022.pdf
Measure AV Final Report PPT 05042022.pptx
11.9 Adopt Resolution No. CC 2022-037, a Resolution of the City Council of the City of Palmdale directing the preparation of the annual engineer's report for the continuation of the annual levy of assessments and designating the engineer of work for fiscal year 2022/2023 for the City of Palmdale Drainage Benefit Assessment Districts No. 1, and No. 2006-06. (Staff Reference: Director of Public Works Heffernan)
Palmdale DBAD - Staff Report 5-4-22.docx
Palmdale DBAD - Res 1 #CC2022-037 for 5-4-22.doc
11.10 Adopt Resolution No. CC 2022-038, a Resolution of the City Council of the City of Palmdale directing the preparation of the annual Engineer's Reports for the continuation of the annual levy of assessments and designating the engineer of work for fiscal year 2022/2023 for the City of Palmdale Landscape Maintenance Assessment Districts and Annexations, Park Maintenance and Recreation Improvement District, and Streetlight Maintenance Assessment Districts and Annexations. (Staff Reference: Director of Public Works Heffernan)
Palmdale LMD - Staff Report 5-4-22.docx
Palmdale LMD,Park,SMD - Res 1 #CC 2022-038 for 5-4-22 (1).doc
11.11 Approve Purchase Order No. 20220444 with National Auto Fleet Group for one (1) Roadline Model GPMT Graffiti Removal Truck in an amount not to exceed $142,236.76; and approve appropriation of $30,000 from Measure AV unappropriated fund balance. (Staff Reference: Director of Public Works City Council
Wednesday, May
4, 2022
Heffernan)
SR_Graffiti_Truck__2_updated 41322.docx
1. Sourcewell Contract No. 091521-NAF (National Auto Fleet Group).pdf
2. Quote - National Auto Fleet Group_Graffiti Truck.pdf
3. Purchase Order No. 20220444 National Auto Fleet Group.pdf
g
truck.pdf
11.12 Adopt Resolution No. CC 2022-033, a Resolution of the City Council of the City of Palmdale declaring its intention to adjust the maximum assessment of the City of Palmdale Landscape Maintenance Assessment District No. 2020-090. (Staff Reference: Director of Public Works Heffernan)
LMD_2020-290_SR_Amended_ER.doc
LMD 2020-290 Reso Intent to Reduce Max Assmnt_Distro.docx
LMD Engineers Report-reduced assessment-final.pdf
11.13 Approve Amendment No. 1 for PN 653, the SR-138 (Palmdale Boulevard) Widening Project, with Southern California Regional Rail Authority, in the amount of $171,600. (Staff Reference: Director of Public Works Heffernan - Presented by Deputy Director of Public Works Glidden)
PN 653 - SCRRA Amendment.docx
Palmdale Blvd DSA AMENDMENT NO 1 - Final.pdf
11.14 Award agreement with MNS Engineers, Inc. for construction management and inspection services associated with PN 698, Avenue R Complete Streets and Safe Routes Project, in the amount of $708,640 for a term of 700 calendar days from the date of Notice to Proceed. (Staff Reference: Director of Public Works Heffernan - Presented by Deputy Director of Public Works Glidden)
PN698_-_Award_Con_Inspection_Contract.docx
Agreement A-7854.pdf
11.15 Approve additional funds of $50,000 for Purchase Order No. 20220000 with Walsma Oil Company, Inc. for diesel and unleaded fuel, motor oil, and lubricants in an amount not to exceed $435,000. (Staff Reference: Director of Public Works Heffernan)
SR Walsma Oil
PO Additional Funds.docx
Purchase Order No. 20220000 Walsma Oil Co. Inc. (Change Order).pdf
11.16 Approve Consultant Agreement with Withers & Sandgren, Ltd. for PN 851, Melville J. Courson Park Revitalization in the amount of $365,000. (Staff Reference:
Director of Public Works Heffernan - Presented by Deputy Director of Public Works Glidden)
PN 841 Staff Report Template - Award Design lg.docx
A-7869.pdf
11.17 Adopt Resolution Nos 2022-034 and CC 2022-035. (Staff Reference: Director of City Council
Wednesday, May
4, 2022
Public Works Heffernan)
Resolution No. CC 2022-034, a Resolution of the City Council of the City of Palmdale initiating proceedings for the annexation of territory to the City of Palmdale Streetlight Maintenance Assessment District No. 1, as Annexation 2022-203, describing the proposed improvements to serve said district, and ordering the preparation of the annexation and annual levy report, and
Resolution No. CC 2022-035, a Resolution of the City Council of the City of Palmdale declaring its intention to annex territory into the City of Palmdale Streetlight Maintenance Assessment District No. 1, as Annexation 2022-203, preliminarily approving the annexation and annual levy reports, and setting a time and place for hearing protest.
SLAD 2022-203 Staff Report-Intent Meeting.doc
SLAD 2022-203 Reso 2022-034 Initiating.doc
SLAD 2022-203 Reso 2022-035 Intent.doc
SLAD 2022-203 Enginers Report FINAL.pdf
11.18 Approve Final Tract Map No. 60732 (located at 20th Street West and Quick Street, south of Avenue P-8). (Staff Reference: Director of Public Works Heffernan)
TR 60732 Staff Report.docx
TR 60732.pdf
11.19 Approve the minutes from the previous meetings. (Staff Reference: City Clerk/Agency Secretary Smith)
CC/SA/IDA/PAA/PCA/PFA - March 16, 2022
CC/SA - April 6, 2022
CC - April 12, 2022
CC_SA_HA_IDA_PAA_PCA_PFA 03 16 2022.pdf
CC_SA_HA 04 06 2022.pdf
CC Minutes 04 12 2022.pdf
12. APPOINTMENT
12.1 Approve Reappointment to the Board of Library Trustees. (Staff Reference: City Clerk Smith)
5 4 2022 Approve_Nomination
Reappointment_Library.docx
Ordinance No. 1561.pdf
12.2 Approve Reappointments of Planning Commissioners to the Planning Commission. (Staff Reference: City Clerk Smith)
City Council
Wednesday, May
4, 2022
5 4 2022 Planning Commission reappointments.docx
12.3 Approve Reappointments of General Plan Advisory Committee Members. (Staff Reference: City Clerk Smith)
GPAC_Committee_ReAppointment_SR_2022 5 4.docx
CC 2019-046.pdf
Ordinance No. 1561.pdf
12.4 Approve Reappointments to the Mobile Home Park Rental Review Board. (Staff Reference: City Clerk Smith)
5 4 2022 Reappointment_ Mobile Home Board.docx
Ordinance No. 1561.pdf
13. PUBLIC HEARING
13.1 Public Hearing and Review of Proposed Resolution No. CC 2022-045 for adoption. (Staff Reference: Director of Economic and Community Development Garibay - Presented by Associate Planner Alvarado)
RESOLUTION NO. CC 2022-045, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALMDALE APPROVING DENSITY BONUS AGREEMENT 22- 001 (A-7830) ASSOCIATED WITH THE CONSTRUCTION OF A 70-UNIT MULTI-
FAMILY RESIDENTIAL DEVELOPMENT ON AN APPROXIMATELY FOUR AND
A HALF ACRE VACANT PARCEL LOCATED AT THE SOUTHWEST CORNER OF 25TH STREET EAST AND EAST AVENUE Q-4 (APN: 3018-014-074)
SPR 22-003 and DBA 22-001_CC Staff Report v1.docx
SPR 22-003 and DBA 22-001_CC Resolution.doc
Density Bonus Agreement (Juniper - revised 03 29 2022) v3 final.docx
13.2 Public Hearing and Review of Proposed Ordinance No.1586 for adoption. (Staff Reference: Director of Economic and Community Development Garibay - Presented by Associate Planner Sauder)
ORDINANCE NO. 1586, AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF PALMDALE CALIFORNIA, AMENDING PALMDALE MUNICIPAL CODE SECTION 17.72.100 TO REDUCE SETBACK REQUIREMENTS IN THE
QUARRY RECLAMATION ZONE
ZOA_21-008_CC_Staff_Report_v1.docx
Ordinance No. 1586 v1.docx
13.3 Public Hearing and Review of Proposed Resolution No. CC 2022-048 for adoption. (Staff Reference: Director of Economic and Community Development Garibay - Presented by Associate Planner Alvarado)
City Council
Wednesday, May
4, 2022
RESOLUTION NO. CC 2022-048, A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF PALMDALE APPROVING A GENERAL PLAN AMENDMENT TO
AMEND THE LAND USE DESIGNATION FROM MR (MEDIUM RESIDENTIAL,
6.1-10 DWELLING UNITS PER ACRE) TO RC (REGIONAL COMMERCIAL) / PF (PUBLIC FACILITIES) FOR THREE CONTIGUOUS PARCELS TOTALING
APPROXIMATELY FIVE ACRES LOCATED ADJACENT TO PEARBLOSSOM HIGHWAY AND APPROXIMATELY 1,700 FEET WEST OF FORT TEJON ROAD / STATE ROUTE 138 (GPA 21-002); AND AMEND THE LAND USE
DESIGNATION FROM SFR-3 (SINGLE FAMILY RESIDENTIAL, 3.1-6 DWELLING UNITS PER ACRE) TO MR (MEDIUM RESIDENTIAL, 6.1-10
DWELLING UNITS PER ACRE) FOR TWO CONTIGUOUS PARCELS
TOTALING APPROXIMATELY FOUR ACRES LOCATED ON THE SOUTHWEST CORNER OF EAST AVENUE R AND 20TH STREET EAST (GPA 22-002)
ORDINANCE NO. 1585, AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PALMDALE APPROVING A ZONE CHANGE FROM R-2 (MEDIUM RESIDENTIAL) TO C-4 (COMMERCIAL CENTER) / PF (PUBLIC FACILITIES)
FOR THREE CONTIGUOUS PARCELS TOTALING APPROXIMATELY FIVE
ACRES LOCATED ADJACENT TO PEARBLOSSOM HIGHWAY AND
APPROXIMATELY 1,700 FEET WEST OF FORT TEJON ROAD / STATE ROUTE 138 (ZC 21-001); AND A ZONE CHANGE FROM R-1-7,000 (SINGLE- FAMILY RESIDENTIAL, MINIMUM LOT SIZE OF 7,000 SQUARE FEET) TO R-2 (MEDIUM RESIDENTIAL) FOR TWO CONTIGUOUS PARCELS TOTALING
APPROXIMATELY FOUR ACRES LOCATED ON THE SOUTHWEST CORNER OF EAST AVENUE R AND 20TH STREET EAST (ZC 21-003)
GPA 21-002 and GPA 22-002_CC Staff Report_04.12.22 v1.docx
GPA 21-002 and GPA 22-002_CC Resolution No. CC 2022-048.doc
GPA 21-002 and ZC 21-002_CC Ordinance No. 1585.docx
13.4 Public Hearing and Review of Proposed Resolution No. CC 2022-052 for adoption. (Staff Reference: Director of Public Works Heffernan - Presented by Deputy Director of Public Works Glidden)
RESOLUTION NO. CC 2022-052, A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF PALMDALE AUTHORIZING THE INTERIM CITY MANAGER AND
CITY ATTORNEY TO NEGOTIATE AND FINALIZE A FACILITY SOLUTIONS
MASTER AGREEMENT AND A OPERATIONS & MAINTENANCE AGREEMENT WITH SITELOGIQ, INC. FOR THE THE MCADAM PARK SOLAR AND
BATTERY STORAGE PROJECT.
Staff Recommendation
: Adopt Resolution No. CC 2022-052
SR_-_McAdam_Battery_Resolution (ch).docx
Resolution CC 2022-052.doc
City Council
Wednesday, May
4, 2022
SIQ Agreement No. 7917.docx
OM Agreement No. 7918.docx
Sitelogiq Public Notice.doc
13.5 Public Hearing and Review of Proposed Resolution No. CC 2022-036 for adoption. (Staff Reference: Director of Public Works Heffernan)
RESOLUTION NO. CC 2022-036, A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF PALMDALE CONFIRMING THE BALLOT RESULTS TO
DETERMINE THAT NO MAJORITY PROTEST EXISTS IN THE PROCEDINGS,
AND ORDERING THE ANNEXATION OF CERTAIN TERRITYORY INTO THE
CITY OF PALMDALE STREETLIGHT MAINTENANCE ASSESSMENT DISTRICT NO. 1, AS ANNEXATION 2022-203.
Staff
Recommendation
: Adopt Resolution No. CC 2022-036.
SLAD 2022-203 Staff Report-Public Hearing.doc
SLAD 2022-203 Reso 2022-036 Confirming No Majority Protest.docx
Exhibit A to Resolution Attachment - Certificate of Tabulation Official.docx
SLAD 2022-203 Enginers Report FINAL.pdf
13.6 Public Hearing to hear public comments on the Draft 2022-2023 Action Plan and proposed expenditure of Consolidated Plan funds; Review and approve the 2022- 2023 Action Plan; and Authorize the City Manager or their designee to make necessary changes and submit the 2022-2023 Action Plan, execute documents related to the submission of the Action Plan and agreements for Sub-Recipients and the Fair Housing Provider. (Staff Reference: Director of Neighborhood Services Miller- Presented by Housing Manager Reyes)
1a Staff_Report-2022-23_Action_Plan sr v2.docx
1b__2022_AAP_Palmdale_final_v3_4.27.22.pdf
13.7 Public Hearing to hear public comments on the Draft HOME-ARP Allocation Plan and the proposed expenditure of HOME Investment Partnerships Program American Rescue Plan (HOME-ARP) funds; Review and approve the HOME-ARP Allocation Plan; and Authorize the City Manager or his designee to make necessary changes and submit the HOME-ARP Allocation Plan, execute documents related to the submission of the HOME-ARP Allocation Plan. (Staff Reference: Director of Neighborhood Services Miller - Presented by Housing Manager Reyes)
2a Staff_Report-HOME ARP Allocationn_Plan V3 sr.docx
2b_Palmdale_HOME_ARP_Draft_Allocation_Plan.pdf
13.8 Public Hearing and Review of Proposed Ordinance No. 1587 for adoption. (Staff Reference: Director of Public Works Heffernan - Presented by Deputy Director of Public Works Glidden)
City Council
Wednesday, May
4, 2022
ORDINANCE NO. 1587, AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PALMDALE AMENDING CHAPTER 5.52 (SOLID WASTE HANDLING AND RECYCLING SERVICES) OF TITLE 5 (BUSINESS LICENSES, TAXES,
AND REGULATION) OF THE PALMDALE MUNICIPAL CODE IMPLEMENTING
ORGANIC WASTE DIVERSION REGULATIONS
Staff
Recommendation
: Adopt Ordinance No. 1587
SR - Ordinance No. 1587 Final 42122.docx
Ordinance_No._1587_.docx
13.9 Public Hearing and Review of Proposed Resolution No. CC 2022-046 for adoption. (Staff Reference: Director of Public Works Heffernan - Presented by Deputy Director of Public Works Glidden)
RESOLUTION NO. CC 2022-046, A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF PALMDALE AUTHORIZING THE INTERIM CITY MANAGER AND
CITY ATTORNEY TO NEGOTIATE AND EXECUTE AN ORGANIC FEEDSTOCK DISPOSAL AGREEMENT WITH HZI LANCASTER, LLC.
Staff Recommendation:
Adopt Resolution No. CC 2022-046.
SR - Hitachi Resolution.docx
Resolution_CC_2022-046.doc
HZI Proposed Agreement.docx
Hitachi Public Notice.docx
13.10 Adopt Resolution No. CC 2022-050, a Resolution of the City Council of the City of Palmdale approving the issuance of Revenue Bonds by the California Municipal Finance Authority in an Aggregate Principle amount not to exceed $15,000,000 to finance and refinance a 48-unit multifamily housing facility for the benefit of 9th Street E. Housing, LP, A California limited partnership, or another entity to be created by Milare Housing Investments, Inc. (or and affiliate), and certain other matters relating thereto. (Staff Reference: Director of Finance Samson)
1. Staff_Report_-
_TEFRA_Public_Hearing_and_Resolution_to_Finance_for_May_2022_meeting_Reso_2022_FINAL Bana at Palmdale-KP.docx
2. TEFRA Reso - Bana.docx
3573355 proof.pdf
13.11 Adopt Resolution No. CC 2022-051, a Resolution of the City of Palmdale approving the issuance of revenue bonds by the California Municipal Finance Authority in an aggregate principal amount not to exceed $25,000,000 to finance and refinance a 70-unit multifamily housing facility for the benefit of a limited partnership or another entity to be created by Newport Partners, LLC. (or an City Council
Wednesday, May
4, 2022
affiliate), and certain other matters relating there to. (Staff Reference: Director of Finance Samson)
1. Staff_Report_-
_TEFRA_Public_Hearing_and_Resolution_to_Finance_for_May_2022_meeting_Reso_2022_FINAL Juniper Valley Townhomes-kp.docx
2. TEFRA Reso - Juniper Valley Townhomes.docx
3573871 proof.pdf
14. NEW BUSINESS
14.1 Discuss retention of firm to conduct nationwide recruitment for the position of City Manager, and direct staff accordingly.
14.2 Discuss a potential amendment to the Palmdale Municipal Code (Chapter
2.08.040) regarding regular meeting, date, time, place, and provide direction to staff. (Staff Reference: City Attorney Beck)
5_4_2022_Staff_Report_Discussion_of_Chapter_2.08.040_Amendment.docx
14.3 A Resolution of the City Council of the City of Palmdale Authorizing Remote Teleconferencing Meetings of the City Council and All City Subordinate Bodies for the Period of May 4, 2022 - June 3, 2022. (Staff Reference: City Attorney Beck)
5_4_2022_Staff_Report_-
_Resolution_of_the_City_Council_Authorizing_Remote_Teleconference_Meetings__RESOLUTION_NO._CC_2022- 053.docx
Reso. No. CC 2021-102.pdf
5_4_2022
Resolution No. CC 2022-053 Brown Act Teleconference AB 361.doc
15. INFORMATIONAL REPORT FROM MAYOR AND / OR COUNCILMEMBERS ON
THEIR VARIOUS COMMITTEE MEMBERSHIPS AND MEETINGS ATTENDED AT
PUBLIC EXPENSE
15.1 COMMITTEE MEMBERSHIPS.
• ANTELOPE VALLEY AIR QUALITY MANAGEMENT DISTRICT
• ANTELOPE VALLEY TRANSIT AUTHORITY
• CALIFORNIA CONTRACT CITIES ASSOCIATION
• CITY OF PALMDALE AUDIT COMMITTEE
• CITY OF PALMDALE INVESTMENT OVERSIGHT COMMITTEE
• HIGH DESERT CORRIDOR JOINT POWERS AUTHORITY
• LEAGUE OF CALIFORNIA CITIES
• LOS ANGELES COUNTY SANITATION DISTRICT
• NORTH LOS ANGELES COUNTY TRANSPORTATION COALITION
• PALMDALE RECYCLED WATER AUTHORITY
• SOUTHERN CALIFORNIA ASSOCIATION OF GOVERNMENTS REGIONAL City Council
Wednesday, May
4, 2022
COUNCIL
• UNITED STATES/MEXICO SISTER CITIES ASSOCIATION
• CALIFORNIA STATE PRISON – LOS ANGELES COUNTY, CITIZENS
ADVISORY COMMITTEE
15.2 MEETINGS ATTENDED AT PUBLIC EXPENSE
Bettencourt Informational Report 050422.docx
16. CITY MANAGER’S REPORT
17. CITY COUNCIL REQUESTS FOR NEW AGENDA ITEMS
18. Adjourn
meeting to May 18, 2022 at 7:00 p.m. in the City Hall Council Chamber located at 38300 Sierra Highway, Suite B, Palmdale, California.
City Council
Wednesday, May
4, 2022
City Council Staff Report
DATE: MAY 4, 2022
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: CITY MANAGER’S OFFICE – FINANCE DIVISION
DISTRICT: ALL
SUBJECT: RECEIVE AND FILE THE MONTHLY AND QUARTERLY
INVESTMENT ACTIVITY REPORTS FOR MARCH 2022.
ISSUE
Receive and file the monthly and quarterly investment activity reports for March 2022.
RECOMMENDATION
Staff recommends that the City Council accept the monthly and quarterly investment activity reports for City of Palmdale and Successor Agency for March 2022.
BACKGROUND
Pursuant to Section 16 of the City of Palmdale and Successor Agency Investment Policy, the City Treasurer shall prepare and present monthly and quarterly reports on investments to the City Manager/Executive Director and the City Council/Directors. The reports shall detail the type of investment, name of the issuer, purchase date, date of maturity, amount of deposit, and rate of interest. This information shall be provided for all City and Successor Agency pooled investments, as well as for Certificates of Participation, Revenue Bonds, Tax Allocation Bonds, Assessment Districts and Community Facilities District accounts which are managed by outside Fiscal Agents.
The monthly and quarterly reports provide a synopsis of the investment activity for the City of Palmdale and Successor Agency. The report s provide information on assets, allocations, average maturities, yields, and book valuations.
The interest rates present ed are the most current rates available as of the date of this report.
The market values presented for pooled City and Successor Agency investments are based on closing prices for the related investment as of the date of this report. This information was o btained from the Wall Street Journal, Bloomberg Financial Markets, Capital Market Finances, or other reliable source of market prices.
Report to Mayor and City Council
Re: Monthly Report on Investments
April 6, 2022
DISCUSSION
Compliance with Investment Policy
For March, the invested portfolio amount for the City of Palmdale totaled $239,054,634, a decrease of $37,447 from the previous month and an increase of $55,027,378 in comparison to last year. The slight decrease in overall portfolio balance from the previous month is a result of UBS Interest earned being transferred to Bank of America’s General Cash account and is included in the Summary of Cash and Investments page under the Grand total.
The par value of Successor Agency’s portfolio as of March was $11,861,060. The balance Increased by $85,312 from the last month due to debt service payment made during the month.
All investments meet criteria appropriate to Section 8 of the Investment Policy. The portfolios are based on a combination of various investments, including CDs, Corporate Notes, U.S. Treasury Securities and Government Agency Paper, each adhering to portfolio percentage limitations.
The Finance Division is the custodian for the City and Successor Agency’s investment portfolio and follows the three main principles of both entity’s investment policy to 1) Investment in financial instruments that mitigate the risk of monetary losses stemming from market fluctuations; 2) Establish and maintain a portfolio that has sufficient liquidity to allow the City and Successor Agency to meet all anticipated cash requirements; and 3) Seek out investment instruments that provide a competitive market rate of return.
Liquidity
One core approach the Finance Division focuses on, is providing liquidity to measure up to the City and Successor Agency’s operational requirements. Thus, the Finance Department is currently investing in two pooled funds, LAIF and CAMP. These are intended for the daily operational activities, used for economic uncertainties and maintenance needs. The pooled funds provide a higher liquidity ratio to ensure the City and Successor Agency meet cash flow requirements.
Total LAIF balance for the City of Palmdale at the end of March is $65,025,968, no changes from the prior month.
Successor Agency LAIF balance at the end of March was $3,697,774, no change from the prior month.
CAMP’s balance for City of Palmdale is $248,812 compared to February’s balance of $248,758. The slight increase is due to interest received during the month.
Report to Mayor and City Council
Re: Monthly Report on Investments
April 6, 2022
The interest rates presented are the most current rates available as of the date of this report. As of March 31, 2022, the interest rates for LAIF and CAMP investments were at .365 percent and .25 percent, respectively. By comparison, the LAIF and CAMP interest rates at the end of February were at .278 percent and .06 percent. Both rates have slightly increased within this month. This time last year, LAIF and CAMP rates were at 0.357 percent and 0.08, respectively.
The chart above shows both the Local Agency Investment Fund and California Asset Management Program’s average monthly yields beginning June 2021 through March 2022, the graph depicts the decline last year and slow incline during the current year.
We anticipate the rates to increase in the upcoming months, considering the current state of the economy. Overall, LAIF shows better performance than CAMP in interest rates. The difference between the performance of the two funds is partly due to the varying pool characteristics. CAMP’s portfolio composition is much more subject to market volatility, resulting in performance variation.
Diversity
The Finance Division aims to diversify the investment portfolios to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions.
City of Palmdale and Successor Agency’s investment portfolios remain strongly diversified. The monthly and quarterly reports include all investments held by both entities and current book values as of March 31, 2022.
0.26%
0.22% 0.22% 0.21% 0.20% 0.20% 0.21%
0.23%
0.28%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.06%
0.25%
0.00%
0.05%
0.10%
0.15%
0.20%
0.25%
0.30%
Q4 June Jul Aug Q1 Sep Oct Nov Q2 Dec Jan Feb Mar
Pooled Investments Monthly Yields
LAIF CAMP
Report to Mayor and City Council
Re: Monthly Report on Investments
April 6, 2022
It is anticipated that both the City of Palmdale and Successor Agency will have sufficient moneys to meet its expenditure requirements for the next 6 months as we continue to monitor any financial impact due to the Coronavirus pandemic.
Attached are summaries of the investments on the City of Palmdale and Successor Agency’s books as of March 31, 2022.
FISCAL IMPACT
There is no fiscal impact associated with the recommended actions for this report.
STRATEGIC PLAN
Goal II: Ensure long-term fiscal health of the City and maintain funding for services.
B. Manage resources, costs, and liabilities to ensure the City’s long-term fiscal health.
C. Involve and expand engagement to enhance public oversight and transparency.
Prepared by: Janelle Samson, Assistant Finance Manager
Certified as to availability of Funds: Keith Kang, Finance Manager Approved by: Ronda Perez, Acting City Manager
Approved as to form: Christopher Beck, City Attorney
ATTACHMENTS
1. Monthly Report on City of Palmdale Investments
2. Monthly Report on Successor Agency Investments
3. Quarterly Report on City of Palmdale Investments
4. Quarterly Report on Successor Agency Investments
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
March 31, 2022
PURCHASE MATURITY ACCOUNT/ FDIC INTEREST PAR PURCHASE INVESTED DATE DATE FUND INSTITUTION Number RATE AMOUNT AMOUNT AMOUNT U.S. TREASURY SECURITIES Yield
05-31-19 04-30-24 CITY 9128286R6 U.S. Treasury Note 2.03 5,000,000.00 5,051,650.00 5,256,640.00 01-19-21 05-31-23 CITY 9128284S6 U.S. Treasury Note 2.75 2,815,000.00 2,985,994.41 2,950,035.55 03-19-21 12-31-25 CITY 9128285T3 U.S. Treasury Note 2.63 3,000,000.00 3,260,634.36 3,244,110.00 05-11-21 02-28-26 CITY 9128286F2 U.S. Treasury Note 0.66 3,000,000.00 3,261,331.50 3,231,330.00 05-11-21 12-31-24 CITY 9128283P3 U.S. Treasury Note 0.40 3,000,000.00 3,200,040.56 3,175,080.00 06-04-21 12-31-22 CITY 912828N30 U.S. Treasury Note 0.05 3,000,000.00 3,097,665.56 3,087,420.00 06-04-21 12-31-23 CITY 912828V23 U.S. Treasury Note 0.20 4,000,000.00 4,210,026.50 4,188,600.00 07-12-21 12-31-23 CITY 9128285U0 U.S. Treasury Note 2.63 5,000,000.00 5,294,239.83 5,294,239.83 07-12-21 12-31-25 CITY 9128285T3 U.S. Treasury Note 2.63 5,000,000.00 5,456,238.24 5,456,238.24 07-12-21 12-31-23 CITY 912828V23 U.S. Treasury Note 2.25 5,000,000.00 5,247,829.98 5,247,829.98 12-17-21 12-15-23 CITY 91282CBA8 U.S. Treasury Note 0.56 10,000,000.00 9,913,130.25 9,913,198.93 12-17-21 12-15-24 CITY 91282CDN8 U.S. Treasury Note (UBS) 0.85 10,000,000.00 10,045,505.25 10,046,054.70 12-22-21 12-15-23 CITY 91282CBA8 U.S. Treasury Note 0.56 5,000,000.00 4,957,270.88 4,957,391.07 12-22-21 12-15-24 CITY 91282CDN8 U.S. Treasury Note 0.88 5,000,000.00 5,018,208.38 5,019,169.92 12-20-21 12-15-24 CITY 91282CDN8 U.S. Treasury Note (Stifel) 1.00 5,000,000.00 5,017,187.50 5,018,011.68 TOTAL U.S. TREASURY SECURITIES 73,815,000.00$ 76,016,953.20$ 76,085,349.90$
GOVERNMENT AGENCY PAPER
06-05-19 06-05-23 CITY 3133EKPT7 Fed Farm Credit Bk 2.13 5,000,000.00 5,008,600.00 5,178,913.05 06-10-20 06-16-25 CITY 3133ELK37 Federal Farm Credit 0.78 5,000,000.00 5,000,000.00 5,000,332.40 08-07-20 05-06-24 CITY 3133EL2X1 Federal Farm Credit 0.42 2,000,000.00 2,000,000.00 1,985,613.10 08-27-20 11-27-24 CITY 3134GWNG7 Freddie Mac Domestic 0.50 2,000,000.00 2,000,000.00 1,998,606.02 04-01-21 04-01-25 CITY 3133EMUP5 Fed Farm Credit 0.71 5,000,000.00 5,000,000.00 5,001,585.95 05-11-21 09-04-25 CITY 3133EJYM5 FFCB Bond 0.59 1,000,000.00 1,103,275.25 1,094,660.00 05-11-21 09-04-25 CITY 3133EJYM5 FFCB Bond 0.57 0.57 2,000,000.00 2,208,460.00 2,189,320.00 06-04-21 11-07-25 CITY 3135G06G3 Fannie Mae 0.55 3,000,000.00 2,993,675.25 2,967,390.00 06-04-21 08-01-24 CITY 3130AMHH8 FHLB NOTE 0.41 4,000,000.00 4,000,000.00 3,979,555.16 06-07-21 06-07-24 CITY 3130AMQR6 FHLB NOTE 0.35 3,000,000.00 3,000,000.00 2,986,755.36 06-30-21 12-30-25 CITY 3130AMRQ7 FHLB NOTE 0.88 3,000,000.00 3,000,000.00 2,981,324.28 07-29-21 04-29-26 CITY 3130AN5C0 FHLB NOTE 1.05 4,000,000.00 4,010,455.13 4,010,455.13 12-17-21 11-12-25 CITY 3134GXBM5 FHLMC Note 1.15 1,150,000.00 1,125,785.50 1,126,456.33 12-17-21 12-30-24 CITY 3130AQDY6 FHLB 1.00 6,750,000.00 6,750,000.00 6,750,000.00 12-17-21 06-23-25 CITY 3133ENHW3 FFCB 1.17 10,000,000.00 10,000,000.00 10,000,000.00 12-20-21 07-30-25 CITY 3136G4ZP1 FANNIE MAE 0.65 3,500,000.00 3,444,175.00 3,453,085.42 12-20-21 09-24-25 CITY 3134GWUG9 FREDDIE MAC 0.57 10,000,000.00 9,806,600.00 9,820,375.00 12-21-21 12-22-26 CITY 3133ENJC5 FFCB 1.29 5,000,000.00 5,000,000.00 5,000,000.00 01-14-22 01-14-25 CITY 3130AQEA7 FHLB 1.05 7,000,000.00 7,000,000.00 7,000,000.00 c = callable
TOTAL GOVERNMENT AGENCY PAPER 82,400,000.00$ 82,451,026.13$ 82,524,427.20$
CERTIFICATES OF DEPOSIT
05-11-18 05-11-22 CITY 05580AMR2 Bmw Bank North America 35141 2.95 245,000.00 245,000.00 251,143.62 05-15-18 05-16-22 CITY 86063QAN5 Stifel Bank & Trust 57311 2.85 245,000.00 245,000.00 250,964.53 05-18-18 05-18-22 CITY 29278TBF6 Enerbank Usa 57293 2.95 245,000.00 245,000.00 251,216.88 05-31-17 05-31-22 CITY 02587CFM7 American Express Bk 35328 2.40 245,000.00 245,000.00 250,250.84 06-01-17 05-31-22 CITY 51210SMT1 Lakeside Bank 19573 2.00 245,000.00 245,026.85 249,319.60 05-10-18 05-10-23 CITY 61747MX30 Morgan Stanley Bank Na 32992 3.15 245,000.00 245,000.00 258,447.32 05-11-18 05-11-23 CITY 87164WWF1 Synchrony Bank 27314 3.15 245,000.00 245,000.00 258,465.69 05-11-18 05-11-23 CITY 17312QL23 Citibank Na 7213 3.15 245,000.00 245,000.00 258,465.69 05-15-18 05-15-23 CITY 20033AYE0 Comenity Capital Bank 57570 3.10 245,000.00 245,000.00 258,255.73 TOTAL CERTIFICATES OF DEPOSIT 2,205,000.00$ 2,205,026.85$ 2,286,529.90$
CITY OF PALMDALE INVESTMENTS
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
March 31, 2022
CORPORATE NOTES
03-10-20 03-01-23 CITY 30231GAR3 Exxon Mobil 2.73 1,000,000.00 1,045,330.00 1,035,276.25 03-10-20 05-13-22 CITY 037833BF6 Apple Inc 2.70 1,000,000.00 1,039,820.00 1,021,372.65 03-10-20 11-03-22 CITY 594918BH6 Microsoft Corp 2.65 1,000,000.00 1,047,870.00 1,028,648.84 03-10-20 01-13-23 CITY 037833DE7 Apple Inc 2.40 1,000,000.00 1,041,800.00 1,032,294.50 03-10-20 12-14-22 CITY 92826CAC6 VISA Inc 2.80 1,500,000.00 1,572,135.00 1,549,706.22 06-10-20 04-15-23 CITY 30231GBL5 Exxon Mobil Corp 1.75 5,000,000.00 5,000,000.00 5,110,650.00 06-10-20 05-11-23 CITY 166764BV1 Chevron Corp 1.14 2,075,000.00 2,075,000.00 2,105,595.85 TOTAL CORPORATE BONDS 12,575,000.00$ 12,821,955.00$ 12,883,544.31$
STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND
09-01-84 n/a CITY ACCOUNT 98-19-620 0.78 30,094,590.89 30,094,590.89 30,094,590.89 06/23/08 n/a PCA ACCOUNT 40-19-060 0.78 17,220,834.52 17,220,834.52 17,220,834.52 n/a ARPA ACCOUNT 19-19-004 0.78 17,710,542.41 17,710,542.41 17,710,542.41 TOTAL LAIF ACCOUNTS 65,025,967.82$ 65,025,967.82$ 65,025,967.82$
CAMP- CALIFORNIA ASSET MANAGEMENT PROGRAM
6080-01 n/a CITY ACCOUNT 6080-01 0.30 248,812.09 248,812.09 248,812.09 TOTAL CAMP ACCOUNTS 248,812.09$ 248,812.09$ 248,812.09$
UBS FINANCIAL SERVICES
n/a n/a CITY ACCOUNT 0.00 2.85 2.85 2.85
TOTAL UBS FINANCIAL SERVICES ACCOUNTS 2.85$ 2.85$ 2.85$ TOTAL CITY INVESTMENTS 236,269,782.76$ 238,769,743.94$ 239,054,634.07$
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
March 31, 2022
PURCHASE MATURITY ACCOUNT INTEREST INVESTED
DATE DATE FUND NUMBER RATE AMOUNT
STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND
11-20-84 n/a LIBRARY 16-19-012 0.78 12,454.00
TOTAL LIBRARY INVESTMENTS 12,454.00$
PURCHASE MATURITY ACCOUNT INTEREST INVESTED
DATE DATE FUND NUMBER RATE AMOUNT
BOND PROCEEDS
SIERRA GATEWAY COMMUNITY FACILITIES DISTRICT 91-1
Fiscal Agent: U.S. Bank National Association (fka First Trust) 05-10-95 n/a BOND 95421220 0.01 106.62
05-10-95 n/a IMPROVEMENT 95421222 0.01 154,942.25
City Held Cash(Fund 736-114000) ($255,912.67)
TOTAL SIERRA GATEWAY COMMUNITY FACILITIES DISTRICT 91-1 155,048.87$
BOND PROCEEDS
RITTER RANCH COMMUNITY FACILITIES DISTRICT 93-1
Fiscal Agent: U.S. Bank National Association (fka First Trust) 04-06-95 n/a RESERVE-SEN 95420880 n/a 0.00
04-06-95 n/a IMPV-ACQUI 95420884 0.01 2,585,432.13
04-06-95 n/a BOND 95420887 0.00 0.15
City Held Cash(Fund 738-114000) ($1,000,675.82)
TOTAL RITTER RANCH COMMUNITY FACILITIES DISTRICT 93-1 2,585,432.28$
BOND PROCEEDS
ANAVERDE COMMUNITY FACILITIES DISTRICT 2003-1
Fiscal Agent: U.S. Bank National Association (fka First Trust) 08-01-19 n/a SP TAX - B BOND 242969000 0.00 19.33
08-01-19 n/a RESERVE 242969003 0.00 722,950.68
08-01-19 n/a SP TAX - REFUNDING BOND 242969004 0.01 15,149.27 08-01-19 n/a SP TAX - REFUNDING BOND COI242969005 0.01 300.42 City Held Cash(Fund 734-114000) $900,917.97
TOTAL ANAVERDE COMMUNITY FACILITIES DISTRICT 2003-1 738,419.70$
LIBRARY INVESTMENTS
FISCAL AGENT CASH
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
March 31, 2022
BOND PROCEEDS
2005 $7.2M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) Fiscal Agent: U.S. Bank National Association (fka First Trust) 08-02-05 n/a SPEC TRB SER A/B 790330000 0.01 0.00
08-02-05 n/a RESERVE FUND 790330002 0.01 0.00
City Held Cash(Fund 735-114000) $744,688.56
TOTAL 2005 $7.2M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) -$
BOND PROCEEDS
2005 $7.2M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) REFUNDED 2021 Fiscal Agent: U.S. Bank National Association (fka First Trust) n/a SPEC TRB SER A/B 251009000 0.01 19.38
n/a RESERVE FUND 251009001 0.01 639,060.08
City Held Cash
TOTAL 2005 $7.2M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) REFUNDED 2021639,079.46$
BOND PROCEEDS
2006-1 Godde Hill Estate Sewer Improvements LOIB
Fiscal Agent: U.S. Bank National Association (fka First Trust) 11-08-06 n/a REDEMPTION FUND 106844000 0.01 45,335.71
11-08-06 n/a ADM EXP 106844002 0.01 1,594.40
11-08-06 n/a RESERVE FUND 106844003 0.01 99,750.83
City Held Cash(Fund 739-114000) $127,799.09
TOTAL 2006-1 Godde Hill Estate Sewer Improvements LOIB 146,680.94$
BOND PROCEEDS
2007 $19.9M COP Power Plant Land Acquisition
Fiscal Agent: U.S. Bank National Association (fka First Trust) 04-12-07 n/a LEASE PAYMENT 112055000 0.01 0.00
04-12-07 n/a RESERVE FUND 112055001 0.00 0.00
TOTAL 2007 $19.9M COP Power Plant Land Acquisition -$
BOND PROCEEDS
2007 $6.5M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) Fiscal Agent: U.S. Bank National Association (fka First Trust) 08-23-07 n/a BOND FUND 117856000 0.01 0.00
08-23-07 n/a RESERVE FUND 117856002 0.01 0.00
TOTAL 2007 $6.5M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) -$
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
March 31, 2022
PURCHASE MATURITY ACCOUNT INTEREST INVESTED
DATE DATE FUND NUMBER RATE AMOUNT
BOND PROCEEDS
2012 PFA $8.7M LEASE REVENUE BONDS
Fiscal Agent: U.S. Bank National Association (fka First Trust) 12-19-12 n/a REVENUE FD 201546000 0.00 0.33
12-19-12 n/a INTEREST ACCOUNT 201546001 n/a 0.00
12-19-12 n/a PRINCIPAL ACCOUNT 201546002 n/a 0.00
TOTAL 2012 PFA $8.7M LEASE REVENUE BONDS 0.33$
2013 HA PALMDALE TRANSIT VILLAGE HOMES LLC ESCROW
Fiscal Agent: U.S. Bank National Association (fka First Trust) 10-11-13 n/a ESCROW FUND 206455000 0.00 2,979,524.08
TOTAL 2013 HA TRANSIT VILLAGE HOMES ESCROW 2,979,524.08$ 2015 HA DEBT SERVICE RESERVE
Fiscal Agent: Bank of America
11-19-15 n/a DEBT SVC RESERVE 1257964992 0.08 39,135.14 TOTAL 2015 HA DEBT SERVICE RESERVE 39,135.14$
PARS RESTRICTED CASH FOR PENSION STABILIZATION TRUST FUND 05-23-18 n/a CITY 104790895775 Public Agency Retirement Services2.60 6,928,493.89 TOTAL PARS PENSION TRUST FUND 6,928,493.89$
BOND PROCEEDS
2015 HA $4.3M MULTIFAMILY HOUSING REVENUE BONDS
Fiscal Agent: U.S. Bank National Association (fka First Trust) 09-03-15 n/a BOND FUND 277067000 0.00 145,578.25
09-03-15 n/a INTEREST ACCT 277067001 0.01 7.06
09-03-15 n/a BOND RESERVE 277067003 0.00 281,019.61
09-03-15 n/a REPAIR & REPLACE FUND 277067004 0.00 1,107,462.88 TOTAL 2015 HA $4.3M MULTIFAMILY HOUSING REVENUE BONDS 1,534,067.80$
FISCAL AGENT CASH
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
March 31, 2022
BOND PROCEEDS
2017 PFA $17.4M LEASE REVENUE BONDS
Fiscal Agent: U.S. Bank National Association (fka First Trust) 04-05-17 n/a REVENUE FUND 271128000 0.00 2.04
04-05-17 n/a PRINCIPAL ACCT 271128002 n/a 0.00
TOTAL 2017 PFA $17.4M LEASE REVENUE BONDS 2.04$
Total City Held Cash (XXX-114000) $516,817.13
GRAND TOTAL - FISCAL AGENT CASH 15,106,805.07$
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
March 31, 2022
Cash on Hand 26,013,623$
Pooled Cash Investments
City: 229,203,968$
Insur Fund: $9,850,666 239,054,634$
Library Investments $12,454
Subtotal 265,080,711$
City/AD/CFD/PCA/PFA/HA
Fiscal Agent Cash 15,106,805$ *
Grand total 280,187,516$
The interest rate quoted on LAIF, AIM, and Fiscal Agent/Trustee accounts is the most current rate available.
LAIF & AIM interest rates are as of March 31, 2022.
\\cityofpalmdale.org\Finance\general\Cash and Investment\Investment\Investment Reports\21-22\09 March 2022\[09 March 2022 Investment Report City.xls]Staff Report Notes
SUMMARY OF CASH AND INVESTMENTS
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
POOLED CASH - LOCAL AGENCY INVESTMENT FUND (LAIF), CALIFORNIA ASSET MANAGEMENT PROGRAM (CAMP), & UBS FINANCIAL SERVICES March 31, 2022
TRANSACTION INTEREST
DATE DEPOSIT WITHDRAWAL RECEIVED BALANCE
CITY ACCOUNT 98-19-620
Beginning Balance 30,094,590.89$
02/28/22 -$ -$ -$
Subtotal -$ -$ -$ 30,094,590.89$ PCA ACCOUNT 40-19-060
Beginning Balance 17,220,834.52$
02/28/22 -$ -$ -$ Subtotal -$ -$ -$ 17,220,834.52$ LIBRARY ACCOUNT 16-19-012
Beginning Balance 12,454.00$
02/28/22 -$ -$ -$ Subtotal -$ -$ -$ 12,454.00$ ARPA ACCOUNT 19-19-004
Beginning Balance 17,710,542.41$
02/28/22 -$ -$
Subtotal -$ -$ -$ 17,710,542.41$
CAMP - CALIFORNIA ASSET MANAGEMENT PROGRAM
Beginning Balance 248,758.67$
02/28/22 - $ 53.42 $
Subtotal -$ -$ 53.42$ 248,812.09$ UBS Financial Services
Beginning Balance 37,502.79$
03/04/22 -$ 45,300.00$ 03/07/22 0.06$
03/31/22 (82,800.00)$
Subtotal -$ (82,800.00)$ 45,300.06$ 2.85$ Total -$ (82,800.00)$ 45,353.48$ 65,287,236.76$ 65,038,424.67$
TN= US Treasury C= Call
FP= Federal Paper M= Maturity
CD= Certificate of Deposit CB= Corporate Bond
FACE
PURCHASEMATURITY REDEMPTION VALUE INTEREST NET INVESTED GAIN/
ISSUER DATE DATE DATE REDEEMED RECEIVED FUNDS AMOUNT (LOSS) -$ $0.00
-$ $0.00
-$ -$ -$ -$ -$ Total Number of Transactions: 0
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
POOLED CASH - INVESTMENTS MATURED OR CALLED
March 31, 2022
TN = US Treasury
FP = Federal Paper
CD = Certificate of Deposit
CN = Corporate Notes ACCRUED
PURCHASE MATURITY FACE PREMIUM / PURCHASE INTEREST NET Yield
ISSUER DATE DATE VALUE (DISCOUNT) PRICE PURCHASED PURCHASE -$ -$
-$ -$ -$ -$ -$ Total Number of Transactions: 0
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
POOLED CASH - INVESTMENTS PURCHASED
March 31, 2022
10 SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
March 31, 2022
3/31/2022
PURCHASE MATURITY ACCOUNT/ INTEREST INVESTED
DATE DATE FUND INSTITUTION RATE AMOUNT TOTAL
STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND
09-01-84 n/a SA ACCOUNT 65-19-035 0.78 3,697,774.06
TOTAL LAIF ACCOUNTS 3,697,774.06$
FISCAL AGENT CASH
BOND PROCEEDS
CRA - 2002 Sub Lien Tax Allocation Bonds $5.3M ($5,329,748.25) Fiscal Agent: U.S. Bank National Association
08-20-02 n/a RESERVE FUND 94460700 0.01 527,744.18
08-20-02 n/a INTEREST ACCT 94460701 0.01 28.91
08-20-02 n/a PRINCIPAL ACCT 94460702 0.01 0.15
TOTAL CRA - 2002 Sub Lien Tax Allocation Bonds $5.3M ($5,329,748.25) 527,773.24$
BOND PROCEEDS
2016 SA $31.5M Tax Allocation Refunding Bonds Series A
Fiscal Agent: U.S. Bank National Association (fka First Trust) 04-26-16 n/a DEBT SERVICE 245113000 0.00 1.29
04-26-16 n/a INTEREST ACCT 245113001 N/A 0.00
TOTAL 2016 SA $31.5M Tax Allocation Refunding Bonds Series A 1.29$ GRAND TOTAL - FISCAL AGENT CASH $527,775
SUMMARY OF CASH AND INVESTMENTS
Cash on Hand 7,635,511$ $7,635,511
$0
Pooled Cash Investments 3,697,774$ $0
$7,635,511
Successor Agency Fiscal Agent Cash 527,775$ *
Grand total 11,861,060$
* The interest rate quoted on LAIF and Fiscal Agent/Trustee accounts is the most current rate available.
LAIF interest rates are as of March 31, 2022.
\\cityofpalmdale.org\Finance\general\Cash and Investment\Investment\Investment Reports\21-22\09 March 2022\[09 March 2022 Investment Report Successor Agency.xls]LAIF Transactions
SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
POOLED CASH - LOCAL AGENCY INVESTMENT FUND (LAIF)
March 31, 2022
TRANSACTION INTEREST
DATE DEPOSIT WITHDRAWAL RECEIVED BALANCE
SA ACCOUNT 65-19-035
Beginning Balance 3,697,774.06$
Subtotal -$ -$ -$ 3,697,774.06$ Portfolio Review and Analysis Prepared for:
City of Palmdale
As of Date: 03/31/2022
Date of Analysis: 04/07/2022
For Distribution to Institutional Clients Only
REFER TO THE LAST PAGE OF THIS REPORT FOR STIFEL FIXED INCOME CAPITAL MARKETS DISCLOSURES Account Executive: Bill Blackwill
Pricing as of: 03/31/2022
Palmdale, CA
Book Value
236,270
# Securities
54 Average Size (Book)
4,375
Book Yield
1.18 Market Yield
1.92 $ Gain/Loss
-4,962
% Gain/Loss
-2.1%
Average Life
1.82 Average Life +300bps
1.88 % Price Change +100bps
-1.75
% Price Change +300bps
-5.14
Effective Duration
1.75 Effective Convexity
0.01 AFS / HTM%
100% / 0%
Fixed / Floating
100% / 0%
ESG/Green Par (000's)
$0 / $0
Portfolio Overview
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Historical Portfolio Overview
03/31/2022
12/31/2021
09/30/2021
06/30/2021
Book Value
236,270
229,198
229,718
220,812
Book Yield
1.18 1.18
1.18 1.12
Book Yield (+100)
1.18 1.18
1.18 1.12
Book Yield (+300)
1.18 1.18
1.18 1.12
Book Yield (-100)
1.18 1.18
1.18 1.12
WAL
1.82 1.56
0.84 0.76
WAL (+100)
1.88 1.99
1.17 1.06
WAL (+300)
1.88 2.03
1.18 1.06
WAL (-100)
1.62 1.14
0.78 0.71
% Price Change (+100)
-1.8%
-1.8%
-1.1%
-1.0%
% Price Change (+300)
-5.1%
-5.5%
-3.3%
-2.9%
% Price Change (-100)
1.8%
1.5%
0.9%
0.8%
Effective Duration
1.75 1.78
1.00 0.91
Effective Convexity
0.01 -0.11
-0.36
-0.23
$ Gain/Loss
-4,962
1,085
2,626
2,254
% Gain/Loss
-2.1%
0.5%
1.1%
1.0%
Principal Cash Flow 2 yrs out
54%
69%
83%
89%
Principal Cash Flow 2 yrs out (+100)
53%
52%
71%
78%
Principal Cash Flow 2 yrs out (+300)
53%
52%
71%
78%
Principal Cash Flow 2 yrs out (-100)
67%
80%
83%
89%
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Portfolio Sector Summary
Portfolio
Par
Book
Market
% Price Change
Gain/(Loss)
Effective
AFS
Sector
%
Value
Cpn
Maturity
Value
Yield
Value
Yield
-100
+100
+300
$
%
WAL
Dur
Cvx
%
Treasury (15)
31.2%
73,815
1.57 2.3 yrs
73,815
1.57 72,617
2.30 2.3
-2.2
-6.5
-1,198
-1.6%
2.31 2.24
0.07 100 %
Agency Bullet (4)
4.7%
11,000
1.93 2.5 yrs
11,000
1.93 10,859
2.22 2.4
-2.3
-6.8
-141
-1.3%
2.45 2.36
0.08 100 %
Callable Agency (15)
30.2%
71,400
0.84 3.2 yrs
71,400
0.84 67,764
2.61 2.9
-3.0
-8.7
-3,636
-5.1%
3.04 2.95
-0.07
100 %
Treasury/Agency (34)
66.1%
156,215
1.26 2.7 yrs
156,215
1.26 151,240
2.43 2.6
-2.6
-7.5
-4,975
-3.2%
2.65 2.57
0.01 100 %
Finance (1)
0.6%
1,500
2.80 0.7 yrs
1,500
2.80 1,512
1.33 0.6
-0.6
-2.0
12 0.8%
0.54 0.59
-0.06
100 %
Industrial (6)
4.7%
11,075
1.87 0.9 yrs
11,075
1.87 11,056
1.77 0.9
-0.9
-2.6
-19
-0.2%
0.86 0.87
0.00 100 %
Corporate (7)
5.3%
12,575
1.98 0.9 yrs
12,575
1.98 12,568
1.72 0.8
-0.9
-2.6
-7
-0.1%
0.82 0.84
-0.01
100 %
NCD (9)
0.9%
2,205
2.86 0.6 yrs
2,205
2.85 2,225
1.17 0.6
-0.6
-1.7
20 0.9%
0.57 0.57
0.01 100 %
CD (9)
0.9%
2,205
2.86 0.6 yrs
2,205
2.85 2,225
1.17 0.6
-0.6
-1.7
20 0.9%
0.57 0.57
0.01 100 %
Cash & Other (4)
27.6%
65,275
0.78 0.1 yrs
65,275
0.78 65,275
0.78 0.1
-0.1
-0.2
0 0.0%
0.08 0.08
0.00 100 %
Other (4)
27.6%
65,275
0.78 0.1 yrs
65,275
0.78 65,275
0.78 0.1
-0.1
-0.2
0 0.0%
0.08 0.08
0.00 100 %
Total (54)
100.0%
236,270
1.18 1.9 yrs
236,270
1.18 231,308
1.92 1.8
-1.8
-5.1
-4,962
-2.1%
1.82 1.75
0.01 100 %
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Shocked Analysis
-200
-100
Base
+100
+200
+300
+400
Par Value
236,270
236,270
236,270
236,270
236,270
236,270
236,270
Book Value
236,270
236,270
236,270
236,270
236,270
236,270
236,270
Market Value
239,079
235,373
231,308
227,254
223,284
219,426
215,688
Gain/(Loss)
2,810
-897
-4,962
-9,015
-12,986
-16,844
-20,582
Gain/(Loss) %
1.2%
-0.4%
-2.1%
-3.8%
-5.5%
-7.1%
-8.7%
Gain/(Loss) % - Chg from Base
3.4%
1.8%
0.0%
-1.8%
-3.5%
-5.1%
-6.8%
Book Price
100.00
100.00
100.00
100.00
100.00
100.00
100.00
Book Yield
1.18 1.18
1.18 1.18
1.18 1.18
1.18 Market Price
101.19
99.62 97.90
96.18 94.50
92.87 91.29
Market Yield
-0.43
1.00 1.92
2.88 3.89
4.88 5.88
WAL
1.16 1.62
1.82 1.88
1.88 1.88
1.88
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Price Risk & Market Value Change by Sector
AFS
HTM
% Change in Market Value from Level
Eff
% Change in Market Value from Level
Eff
Sector
-100
Mkt Value
+100
+200
+300
Dur
-100
Mkt Value
+100
+200
+300
Dur
Treasury/Agency
2.6%
151,240
-2.6%
-5.1%
-7.5%
2.6%
Corporate
0.8%
12,568
-0.9%
-1.7%
-2.6%
0.8%
CD
0.6%
2,225
-0.6%
-1.1%
-1.7%
0.6%
Other
0.1%
65,275
-0.1%
-0.2%
-0.3%
0.1%
Total
1.8%
231,308
-1.8%
-3.5%
-5.1%
1.8%
Scenario Market Val
235,373
231,308
227,254
223,284
219,426
Scenario Gain/Loss
-897
-4,962
-9,015
-12,986
-16,844
Total Portfolio (AFS + HTM):
% Change in Market Val from Level
-200 bps
3.4%
-100 bps
1.8%
Level Market Val
231,308
+100 bps
-1.8%
+200 bps
-3.5%
+300 bps
-5.1%
+400 bps
-6.8%
Effective Duration
1.75 Effective Convexity
0.01
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Peer Group Comparison
As of
Book
G/L
Book
Average Life
% Price Change
Effective
UST
Fix
Fix
Flt
Agy
Sm
Prv
CD &
%
%
Peer
Date
Value
%
Yield
Base
-100
+300
-100
+100
+300
Dur
Cvx
Agy
MBS
ARM
CMO
CMO
CMBS
Bus.
Label
Muni
Corp
Oth
Fixed
AFS
1 03/22
251,581
-3.0
1.80 2.0
2.0 2.0
2.0 -2.0
-5.7
2.0 0.1
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
2 03/22
274,827
-2.0
0.31 1.3
1.1 1.4
1.3 -1.3
-3.9
1.3 0.0
27%
0%
0%
0%
0%
0%
0%
0%
25%
0%
48%
100%
100%
3 12/21
186,188
0.4 1.57
2.7 2.6
2.7 2.6
-2.6
-7.4
2.6 0.1
68%
0%
0%
0%
0%
0%
0%
0%
10%
11%
10%
100%
100%
4 01/22
157,643
-0.5
1.27 1.6
1.1 1.8
1.5 -1.6
-4.9
1.6 0.0
87%
0%
0%
0%
0%
0%
0%
0%
6%
0%
7%
100%
100%
5 02/22
136,932
-2.3
1.05 2.5
1.2 3.2
2.4 -2.8
-8.4
2.7 -0.4
99%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
100%
100%
6 02/22
130,973
-1.6
0.48 1.6
1.2 1.8
1.5 -1.6
-4.8
1.6 -0.1
28%
0%
0%
0%
0%
0%
0%
0%
35%
1%
36%
100%
34%
7 12/21
123,743
-0.9
0.77 2.2
1.3 3.0
1.8 -2.6
-7.9
2.5 -0.4
57%
0%
0%
0%
0%
0%
0%
0%
15%
18%
11%
99%
100%
8 12/21
107,680
-1.1
0.71 2.2
1.5 2.8
2.1 -2.5
-7.6
2.5 -0.1
37%
0%
0%
0%
0%
0%
0%
0%
0%
29%
34%
100%
100%
9 01/22
84,587
-0.7
2.68 2.6
2.2 2.7
2.6 -2.6
-7.5
2.6 0.1
61%
0%
0%
0%
0%
0%
0%
0%
0%
2%
37%
100%
100%
10 02/22
49,923
-0.2
0.93 1.0
0.7 1.1
1.0 -1.1
-3.3
1.1 -0.1
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
11 12/21
44,873
-1.1
0.82 2.4
1.1 4.0
2.1 -3.0
-9.6
2.8 -0.5
73%
1%
0%
1%
0%
0%
0%
0%
0%
11%
13%
95%
100%
12 12/21
44,000
1.2 1.88
2.2 2.1
2.5 2.2
-2.3
-6.7
2.2 -0.1
54%
0%
0%
0%
0%
0%
0%
0%
44%
0%
2%
99%
100%
13 12/21
39,276
0.1 1.15
2.2 0.9
3.7 1.6
-2.9
-9.2
2.6 -1.3
62%
0%
0%
0%
0%
0%
0%
0%
1%
0%
37%
99%
100%
14 02/22
36,078
-3.2
1.00 3.3
1.9 4.0
2.9 -3.4
-10.4
3.2 -0.5
99%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
100%
100%
15 12/21
28,538
-1.2
-0.10
1.2 1.1
1.5 1.2
-1.4
-4.3
1.3 -0.3
18%
0%
0%
0%
0%
0%
0%
0%
57%
1%
25%
99%
100%
16 02/22
27,113
-2.5
1.02 2.7
1.5 3.6
2.5 -3.0
-9.3
2.9 -0.5
99%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
100%
100%
17 02/22
24,842
-0.4
0.98 1.2
0.7 1.3
1.1 -1.3
-3.9
1.3 -0.1
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
18 02/22
15,289
-2.4
1.41 3.0
3.0 3.0
3.0 -2.8
-8.2
2.9 0.1
0%
0%
0%
0%
0%
0%
0%
0%
44%
30%
26%
100%
100%
19 02/22
13,335
-1.1
1.17 2.2
2.2 2.2
2.2 -2.1
-6.1
2.1 0.1
0%
0%
0%
0%
0%
0%
0%
0%
28%
33%
39%
100%
100%
20 12/21
11,210
0.6 1.49
0.7 0.7
0.7 0.7
-0.7
-2.0
0.7 0.0
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
21 02/22
11,000
-3.3
0.81 3.4
1.5 3.8
3.0 -3.4
-10.2
3.3 -0.2
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
22 01/22
7,870
0.1 1.20
5.2 5.1
8.0 5.1
-5.0
-14.7
5.0 0.1
0%
0%
0%
0%
0%
0%
0%
0%
83%
3%
13%
100%
100%
23 12/21
7,541
-0.4
1.31 3.3
3.0 3.5
3.2 -3.3
-9.5
3.3 0.1
17%
0%
0%
0%
0%
0%
0%
0%
0%
3%
79%
100%
100%
24 02/22
4,442
-3.9
0.67 3.4
2.1 3.8
3.1 -3.4
-10.1
3.3 -0.2
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
25 03/22
555,473
-4.0
0.69 2.5
2.3 2.6
2.4 -2.4
-6.9
2.4 0.0
62%
0%
0%
0%
0%
0%
0%
0%
38%
0%
0%
100%
100%
Avg
94,998
-1.3
1.08 2.3
1.8 2.8
2.2 -2.4
-7.3
2.4 -0.2
62%
0%
0%
0%
0%
0%
0%
0%
15%
6%
17%
100%
97%
Port
236,270
-2.1
1.18 1.8
1.6 1.9
1.8 -1.8
-5.1
1.8 0.0
66%
0%
0%
0%
0%
0%
0%
0%
0%
5%
29%
100%
100%
Diff
141,271
-0.8
0.10 -0.5
-0.2
-1.0
-0.4
0.7 2.2
-0.6
0.2 4%
0%
0%
0%
0%
0%
0%
0%
-15%
0%
12%
0%
3%
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Yield and Average Life Peer Comparison
Price Risk Peer Comparison
Each box contains the range of your peer group, the top and bottom of the boxes being the max and min. The red box is the avg. of your peers within the range and the gray dot represents your position.
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Cash Flow and Yield Rolloff - Next 12 Months
Yield Rolloff
Month
Begin BY
Principal CF
Rolloff Yld
Ending BY
Apr 2022
1.18 65,275
0.78 1.33
May 2022
1.33 2,225
2.65 1.32
Jun 2022
1.32 0
0.00 1.32
Jul 2022
1.32 0
0.00 1.32
Aug 2022
1.32 0
0.00 1.32
Sep 2022
1.32 1,000
2.65 1.31
Oct 2022
1.31 1,500
2.80 1.29
Nov 2022
1.29 0
0.00 1.29
Dec 2022
1.29 4,000
2.20 1.27
Jan 2023
1.27 1,000
2.73 1.26
Feb 2023
1.26 0
0.00 1.26
Mar 2023
1.26 0
0.00 1.26
Shocked Principal and Interest Cash Flow Analysis
Year
-200
-100
Base
+100
+200
+300
+400
Apr 2022
82,546
65,494
65,494
65,494
65,494
65,494
65,494
May 2022
2,338
2,338
2,338
2,338
2,338
2,338
2,338
Jun 2022
7,382
690
690
690
690
690
690
Jul 2022
24 61
61 61
61 61
61 Aug 2022
43 43
43 43
43 43
43 Sep 2022
3,100
1,097
1,097
1,097
1,097
88 88
Oct 2022
1,649
1,649
1,649
1,649
1,649
135
135
Nov 2022
74 78
78 78
78 78
78 Dec 2022
11,591
4,683
4,683
4,683
4,683
3,673
3,673
Jan 2023
5,032
1,058
1,058
1,058
1,058
49 49
Feb 2023
2,043
43 43
43 43
43 43
Mar 2023
74 74
74 74
74 74
74
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Cash Flow and Yield Rolloff - Next 10 Years
Yield Rolloff
Year
Begin BY
Principal CF
Rolloff Yld
Ending BY
2022
1.18 74,000
0.98 1.27
2023
1.27 45,870
1.52 1.18
2024
1.18 52,750
1.07 1.26
2025
1.26 51,650
1.20 1.51
2026
1.51 12,000
1.51 2027
2028
2029
2030
2031
Shocked Principal and Interest Cash Flow Analysis
Year
-200
-100
Base
+100
+200
+300
+400
2022
108,747
76,133
76,133
76,133
76,133
75,135
75,135
2023
84,890
56,756
47,757
47,757
47,757
48,773
48,773
2024
29,866
78,351
54,052
47,049
47,049
47,049
47,049
2025
14,391
27,623
52,300
59,393
59,393
59,393
59,393
2026
3,038
3,038
12,085
12,123
12,123
12,123
12,123
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Sector Cash Flow and Yield Rolloff - Next 12 Months
Apr 22
May 22
Jun 22
Jul 22
Aug 22
Sep 22
Oct 22
Nov 22
Dec 22
Jan 23
Feb 23
Mar 23
Bk Yld Chg
Treasury/Agency
Cash Flow
95 54
668
48 43
74 95
54 3,673
48 43
74 End BY
1.26 1.26
1.26 1.26
1.26 1.26
1.26 1.26
1.24 1.24
1.24 1.24
-0.02
Corporate
Cash Flow
39 1,039
21 12
0 1,022
1,553
12 1,010
1,009
0 0
End BY
1.98 1.92
1.92 1.92
1.92 1.85
1.69 1.69
1.60 1.44
1.44 1.44
-0.53
CD
Cash Flow
2 1,245
1 1
1 1
1 12
1 1
1 1
End BY
2.85 3.14
3.14 3.14
3.14 3.14
3.14 3.14
3.14 3.14
3.14 3.14
0.29 Other
Cash Flow
65,358
0 0
0 0
0 0
0 0
0 0
0 End BY
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 Total
Cash Flow
65,494
2,338
690
61 43
1,097
1,649
78 4,683
1,058
43 74
End BY
1.33 1.32
1.32 1.32
1.32 1.31
1.29 1.29
1.27 1.26
1.26 1.26
-0.07
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Sector Cash Flow and Yield Rolloff - Next 3 Years
2Q22
3Q22
4Q22
1Q23
2Q23
3Q23
4Q23
1Q24
2Q24
3Q24
4Q24
1Q25
Bk Yld Chg
Treasury/Agency
Cash Flow
817
164
3,822
164
8,600
164
29,698
164
14,518
164
39,205
10,132
End BY
1.26 1.26
1.24 1.24
1.18 1.18
1.18 1.18
1.19 1.19
1.26 1.28
0.02 Corporate
Cash Flow
1,099
1,034
2,575
1,009
7,126
0 0
0 0
0 0
0 End BY
1.92 1.85
1.60 1.44
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
-1.92
CD
Cash Flow
1,248
2 14
2 993
0 0
0 0
0 0
0 End BY
3.14 3.14
3.14 3.14
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
-3.14
Other
Cash Flow
65,358
0 0
0 0
0 0
0 0
0 0
0 End BY
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 Total
Cash Flow
68,522
1,201
6,411
1,175
16,719
164
29,698
164
14,518
164
39,205
10,132
End BY
1.32 1.31
1.27 1.26
1.18 1.18
1.18 1.18
1.19 1.19
1.26 1.28
-0.04
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Gap Analysis - Potential Income Impact of Principal Reinvestment Assumed
Estimated
Income
Resulting
Reinvestment
Annualized
Difference from
Book
Yield
Income
Current Book
Yield
0.25 187
-564
0.94 0.50
375
-376
1.02 0.75
562
-189
1.10 1.00
750
-1
1.18 1.25
937
186
1.26 1.50
1,125
374
1.34 1.75
1,312
561
1.42 2.00
1,500
749
1.50 2.25
1,687
936
1.58 2.50
1,875
1,124
1.66 2.75
2,062
1,311
1.74 3.00
2,250
1,499
1.81 3.25
2,437
1,686
1.89 3.50
2,625
1,874
1.97 3.75
2,812
2,061
2.05 4.00
3,000
2,249
2.13 4.25
3,187
2,436
2.21 4.50
3,375
2,624
2.29 4.75
3,562
2,811
2.37 5.00
3,750
2,999
2.45 5.25
3,937
3,186
2.53 5.50
4,125
3,374
2.61 5.75
4,312
3,561
2.69 6.00
4,500
3,749
2.77 6.25
4,687
3,936
2.85 6.50
4,875
4,124
2.93 6.75
5,062
4,311
3.00 7.00
5,250
4,499
3.08 7.25
5,437
4,686
3.16 7.50
5,625
4,874
3.24 7.75
5,812
5,061
3.32 8.00
6,000
5,249
3.40 Principal Maturing(12 Mo.Horizon): $75,000
Current Book Yield of Principal Maturing: 1.00%
Est. Annual Income at Current Book Yield: $751
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Shocked Cash Flows By Sector - Next 10 Years
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Cash Flows By Sector - Next 30 Years
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Cash Flow Projection By Month - Next 5 Years
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Agency - Summary
Book
Market
G/L $
G/L %
WAL
% Px
Δ
Dur
Cvx
Sector
Par
Maturity
Price
Price
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Next Call
Value
Yield
Value
Yield
+ 300
+ 300
+ 300
+300
AFS %
2.3 yrs
100.00
98.38 -1,198
-1.6%
2.31 2.3
2.24 0.07
Treasury (15)
47.3%
73,815
1.57 73,815
1.57 72,617
2.30 -5,897
-8.0%
2.31 -6.5
100.0%
2.5 yrs
100.00
98.72 -141
-1.3%
2.45 2.4
2.36 0.08
Agency Bullet (4)
7.0%
11,000
1.93 11,000
1.93 10,859
2.22 -876
-8.0%
2.45 -6.8
100.0%
3.2 yrs
100.00
94.91 -3,636
-5.1%
3.04 2.9
2.95 -0.07
Callable Agency (15)
45.7%
71,400
0.84 0.2 yrs
71,400
0.84 67,764
2.61 -9,561
-13.4%
3.20 -8.7
100.0%
2.7 yrs
100.00
96.82 -4,975
-3.2%
2.65 2.6
2.57 0.01
Total (34)
100.0%
156,215
1.26 0.2 yrs
156,215
1.26 151,240
2.43 -16,335
-10.5%
2.73 -7.5
100.0%
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Agency - Sector Cash Flow and Yield Rolloff - Next 3 Years 2Q22
3Q22
4Q22
1Q23
2Q23
3Q23
4Q23
1Q24
2Q24
3Q24
4Q24
1Q25
Bk Yld Chg
Treasury
Cash Flow
539
38 3,545
38 3,322
38 29,474
38 5,295
38 23,239
38 End BY
1.57 1.57
1.55 1.55
1.50 1.50
1.71 1.71
1.63 1.63
2.59 2.59
1.02 Agency Bullet
Cash Flow
61 45
61 45
5,061
45 8
45 8
45 8
45 End BY
1.93 1.93
1.93 1.93
1.76 1.76
1.76 1.76
1.76 1.76
1.76 1.76
-0.17
Callable Agency
Cash Flow
217
82 217
82 217
82 217
82 9,216
82 15,959
10,049
End BY
0.84 0.84
0.84 0.84
0.84 0.84
0.84 0.84
0.90 0.90
0.88 0.80
-0.03
Total
Cash Flow
817
164
3,822
164
8,600
164
29,698
164
14,518
164
39,205
10,132
End BY
1.26 1.26
1.24 1.24
1.18 1.18
1.18 1.18
1.19 1.19
1.26 1.28
0.02
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Callable Agency Rate Shock Analysis
–
Projected Par Value Redeemed at NEXT Call Date
–
Monthly
-100
-75
-50
-25
0 25
50 75
100
Mar 22
-
-
-
-
-
-
-
-
-
Apr 22
-
-
-
-
-
-
-
-
-
May 22
-
-
-
-
-
-
-
-
-
Jun 22
-
-
-
-
-
-
-
-
-
Jul 22
-
-
-
-
-
-
-
-
-
Aug 22
-
-
-
-
-
-
-
-
-
Sep 22
-
-
-
-
-
-
-
-
-
Oct 22
-
-
-
-
-
-
-
-
-
Nov 22
-
-
-
-
-
-
-
-
-
Dec 22
-
-
-
-
-
-
-
-
-
Jan 23
-
-
-
-
-
-
-
-
-
Feb 23
-
-
-
-
-
-
-
-
-
Callable Agency Rate Shock Analysis
–
Projected Par Value Redeemed at NEXT Call Date
–
Quarterly
-100
-75
-50
-25
0 25
50 75
100
1Q22
-
-
-
-
-
-
-
-
-
2Q22
-
-
-
-
-
-
-
-
-
3Q22
-
-
-
-
-
-
-
-
-
4Q22
-
-
-
-
-
-
-
-
-
1Q23
-
-
-
-
-
-
-
-
-
2Q23
-
-
-
-
-
-
-
-
-
3Q23
-
-
-
-
-
-
-
-
-
4Q23
-
-
-
-
-
-
-
-
-
1Q24
-
-
-
-
-
-
-
-
-
2Q24
-
-
-
-
-
-
-
-
-
3Q24
-
-
-
-
-
-
-
-
-
4Q24
-
-
-
-
-
-
-
-
-
1Q25
-
-
-
-
-
-
-
-
-
2Q25
-
-
-
-
-
-
-
-
-
3Q25
-
-
-
-
-
-
-
-
-
4Q25
-
-
-
-
-
-
-
-
-
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Agency Projected Call Report - CUSIP Level
Sec
Cpn
Par
Next
Call
Mkt
Gain/
Projected Shocked Call Dates
No.
CUSIP
Issuer
Cpn
Type
Maturity
Value
Call
Type
Price
Loss
-200
-100
Base
+100
+200
+300
+400
30 3133EL2X1
FFCB
0.42 Fixed
05/06/24
2,000
04/13/22
Anytime
96.059
-79
09/22
10/23
04/24
05/24
05/24
05/24
05/24
31 3130AMQR6
FHLB
0.35 Fixed
06/07/24
3,000
06/07/22
Quarterly
95.692
-129
12/22
12/23
06/24
06/24
06/24
06/24
06/24
32 3130AMHH8
FHLB
0.41 Fixed
08/01/24
4,000
06/01/22
Quarterly
95.456
-182
12/22
12/23
06/24
08/24
08/24
08/24
08/24
33 3130AQDY6
FHLB
1.00 Fixed
12/30/24
6,750
06/30/22
Anytime
96.039
-267
06/22
01/24
10/24
12/24
12/24
12/24
12/24
35 3130AQEA7
FHLB
1.05 Fixed
01/14/25
7,000
04/14/22
Quarterly
96.069
-275
04/22
01/24
10/24
01/25
01/25
01/25
01/25
34 3134GWNG7
FHLMC
0.50 Fixed
11/27/24
2,000
05/27/22
Quarterly
94.934
-101
02/23
05/24
11/24
11/24
11/24
11/24
11/24
41 3133ENHW3
FFCB
1.17 Fixed
06/23/25
10,000
04/13/22
Anytime
95.729
-427
04/22
04/24
01/25
06/25
06/25
06/25
06/25
42 3133ELK37
FFCB
0.78 Fixed
06/16/25
5,000
04/13/22
Anytime
94.642
-268
04/23
10/24
04/25
06/25
06/25
06/25
06/25
40 3133EMUP5
FFCB
0.71 Fixed
04/01/25
5,000
04/13/22
Anytime
94.794
-260
04/23
07/24
04/25
04/25
04/25
04/25
04/25
43 3136G4ZP1
FNMA
0.65 Fixed
07/30/25
3,500
04/30/22
Quarterly
93.955
-212
10/23
10/24
07/25
07/25
07/25
07/25
07/25
46 3134GWUG9
FHLMC
0.57 Fixed
09/24/25
10,000
06/24/22
Quarterly
93.515
-648
12/23
12/24
09/25
09/25
09/25
09/25
09/25
47 3134GXBM5
FHLMC
0.60 Fixed
11/12/25
1,150
05/12/22
Quarterly
93.317
-77
02/24
02/25
11/25
11/25
11/25
11/25
11/25
48 3130AMRQ7
FHLB
0.88 Fixed
12/30/25
3,000
06/30/22
Quarterly
94.029
-179
06/23
03/25
12/25
12/25
12/25
12/25
12/25
52 3130AN5C0
FHLB
1.05 Fixed
04/29/26
4,000
04/29/22
Quarterly
94.131
-235
01/23
04/25
01/26
04/26
04/26
04/26
04/26
54 3133ENJC5
FFCB
1.29 Fixed
12/22/26
5,000
12/22/23
Anytime
94.081
-296
12/23
10/25
07/26
12/26
12/26
12/26
12/26
0.84 71,400
94.908
-3,636
Shocked Agency Projected Call Schedule - Next 12 Months -200
-100
Base
+100
+200
+300
+400
Mar 22
-
-
-
-
-
-
-
Apr 22
17,000
-
-
-
-
-
-
May 22
-
-
-
-
-
-
-
Jun 22
6,750
-
-
-
-
-
-
Jul 22
-
-
-
-
-
-
-
Aug 22
-
-
-
-
-
-
-
Sep 22
2,000
-
-
-
-
-
-
Oct 22
-
-
-
-
-
-
-
Nov 22
-
-
-
-
-
-
-
Dec 22
7,000
-
-
-
-
-
-
Jan 23
4,000
-
-
-
-
-
-
Feb 23
2,000
-
-
-
-
-
-
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Agency - Risk/Reward Analysis
Top 5 Market Yields
Security
Mkt
Mkt
Eff.
% Px
Δ
CUSIP
Description
Subsector
Value
Yld
Dur
Up 300
3133ENHW3
FFCB 1.17 06/23/25
Callable Agency
9,573
2.76%
2.91 -8.8
3133ENJC5
FFCB 1.29 12/22/26
Callable Agency
4,704
2.76%
4.00 -12.2
3130AN5C0
FHLB 1.05 04/29/26
Callable Agency
3,765
2.67%
3.61 -10.9
3130AQEA7
FHLB 1.05 01/14/25
Callable Agency
6,725
2.66%
2.59 -7.7
3133ELK37
FFCB 0.78 06/16/25
Callable Agency
4,732
2.62%
3.00 -8.8
Bottom 5 Market Yields
Security
Mkt
Mkt
Eff.
% Px
Δ
CUSIP
Description
Subsector
Value
Yld
Dur
Up 300
912828N30
T 2 1/8 12/31/22
Treasury
3,015
1.46%
0.76 -2.2
3133EKPT7
FFCB 2 1/8 06/05/23
Agency Bullet
5,013
1.89%
1.18 -3.5
9128284S6
T 2 3/4 05/31/23
Treasury
2,843
1.89%
1.16 -3.4
91282CBA8
T 0 1/8 12/15/23
Treasury
4,826
2.21%
1.72 -5.0
91282CBA8
T 0 1/8 12/15/23
Treasury
9,652
2.21%
1.72 -5.0
Top 5 Price Volatility (% price change +300)
Security
Mkt
Mkt
Eff.
% Px
Δ
CUSIP
Description
Subsector
Value
Yld
Dur
Up 300
3133ENJC5
FFCB 1.29 12/22/26
Callable Agency
4,704
2.76%
4.00 -12.2
3130AN5C0
FHLB 1.05 04/29/26
Callable Agency
3,765
2.67%
3.61 -10.9
9128286F2
T 2 1/2 02/28/26
Treasury
2,999
2.51%
3.71 -10.5
3130AMRQ7
FHLB 0 7/8 12/30/25
Callable Agency
2,821
2.55%
3.42 -10.1
9128285T3
T 2 5/8 12/31/25
Treasury
5,023
2.50%
3.54 -10.1
Next 5 Projected Redemptions
Security
Mkt
Mkt
Eff.
CUSIP
Description
Subsector
Value
Yld
Dur
Mat/Call
912828N30
T 2 1/8 12/31/22
Treasury
3,015
1.46%
0.76 12/01/22
9128284S6
T 2 3/4 05/31/23
Treasury
2,843
1.89%
1.16 05/01/23
3133EKPT7
FFCB 2 1/8 06/05/23
Agency Bullet
5,013
1.89%
1.18 06/01/23
912828V23
T 2 1/4 12/31/23
Treasury
4,001
2.24%
1.73 12/01/23
9128285U0
T 2 5/8 12/31/23
Treasury
5,034
2.24%
1.72 12/01/23
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Corporate - Summary
Rating
Book
Market
G/L $
G/L %
WAL
% Px
Δ
Dur
Cvx
Sector
Par
Moody's
Price
Price
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Maturity
S&P
Value
Yield
Value
Yield
+ 300
+ 300
+ 300
+300
AFS %
Aa3
100.00
100.79
12 0.8%
0.54 0.6
0.59 -0.06
Finance (1)
11.9%
1,500
2.80 0.7 yrs
AA-
1,500
2.80 1,512
1.33 -18
-1.2%
0.71 -2.0
100.0%
Aa1
100.00
99.83 -19
-0.2%
0.86 0.9
0.87 0.00
Industrial (6)
88.1%
11,075
1.87 0.9 yrs
AA
11,075
1.87 11,056
1.77 -310
-2.8%
0.90 -2.6
100.0%
Aa1
100.00
99.94 -7
-0.1%
0.82 0.8
0.84 -0.01
Total (7)
100.0%
12,575
1.98 0.9 yrs
AA
12,575
1.98 12,568
1.72 -329
-2.6%
0.87 -2.6
100.0%
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Corporate - Rating Summary
Combined Rating Summary
Maturity Summary
Combined Rating
% Balance
Par Value
Book Yield
Eff. Duration
Maturity Range
% Balance
Par Value
Book Yield
Combined
Rating
AAA
8.0%
1,000
2.65 0.48
< 1 Yr
43.7%
5,500
2.67 AA+
AA
92.0%
11,575
1.92 0.87
1.00 Yr - 2.99 Yr
56.3%
7,075
1.44 AA
A
-
-
-
-
3.00 Yr - 4.99 Yr
-
-
-
-
BBB
-
-
-
-
5.00 Yr - 6.99 Yr
-
-
-
-
BB
-
-
-
-
7.00 Yr - 9.99 Yr
-
-
-
-
B or Below
-
-
-
-
10 Yr +
-
-
-
-
NR
-
-
-
-
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
CD - Summary
Book
Market
G/L $
G/L %
WAL
Px Chg
Dur
Cvx
Sector
Par
Maturity
Price
Price
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Next Call
Value
Yield
Value
Yield
+ 300
+ 300
+ 300
+300
AFS %
0.6 yrs
100.00
100.92
20 0.9%
0.57 0.6
0.57 0.01
NCD (9)
100.0%
2,205
2.86 2,205
2.85 2,225
1.17 -18
-0.8%
0.57 -1.7
100.0%
0.6 yrs
100.00
100.92
20 0.9%
0.57 0.6
0.57 0.01
Total (9)
100.0%
2,205
2.86 2,205
2.85 2,225
1.17 -18
-0.8%
0.57 -1.7
100.0%
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Other - Summary
Book
Market
G/L $
G/L %
WAL
Px Chg
Dur
Cvx
Sector
Par
Maturity
Price
Price
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Next Call
Value
Yield
Value
Yield
+ 300
+ 300
+ 300
+300
AFS %
0.1 yrs
100.00
100.00
0 0.0%
0.08 0.1
0.08 0.00
Cash & Other (4)
100.0%
65,275
0.78 65,275
0.78 65,275
0.78 -163
-0.2%
0.08 -0.2
100.0%
0.1 yrs
100.00
100.00
0 0.0%
0.08 0.1
0.08 0.00
Total (4)
100.0%
65,275
0.78 65,275
0.78 65,275
0.78 -163
-0.2%
0.08 -0.2
100.0%
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Portfolio Considerations
Par
Book
Market
Gain/
Book
Eff.
Historical CPR
Proj. CPR
Loan
Sector
Cnt
Cpn
Maturity
Value
Price
Price
(Loss)
Yield
WAL
Dur
1 Mo.
3 Mo.
Life
Life
Count
Book Yield < 1.5%
26 0.77
1.9 yrs
176,750
100.00
97.09 -5,149
0.77 1.8
1.71 Treasury
5 0.63
2.3 yrs
35,000
100.00
96.33 -1,285
0.63 2.3
2.25 Agency Bullet
1 0.50
3.6 yrs
3,000
100.00
93.19 -204
0.50 3.6
3.53 Callable Agency
15 0.84
3.2 yrs
71,400
100.00
94.91 -3,636
0.84 3.0
2.95 Industrial
1 1.14
1.1 yrs
2,075
100.00
98.87 -23
1.14 1.1
1.11 Cash & Other
4 0.78
0.1 yrs
65,275
100.00
100.00
0 0.78
0.1 0.08
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Key Portfolio Sorts
Top 10 Up 300 Market Value Changes (%)
Par
Book
Market
Book
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
Yield
WAL
+300
+300
+300
Dur
INT
3133ENJC5
Callable Agency
FFCB 1.29 12/22/26
1.29 12/22/26
5,000
100.00
94.08 -296
1.290
4.31 -12.19
-573
-869
4.00 AFS
3130AN5C0
Callable Agency
FHLB 1.05 04/29/26
1.05 04/29/26
4,000
100.00
94.13 -235
1.050
3.83 -10.86
-409
-644
3.61 AFS
9128286F2
Treasury
T 2 1/2 02/28/26
2.50 02/28/26
3,000
100.00
99.97 -1
2.500
3.92 -10.45
-314
-314
3.71 AFS
3130AMRQ7
Callable Agency
FHLB 0 7/8 12/30/25
0.88 12/30/25
3,000
100.00
94.03 -179
0.875
3.75 -10.15
-286
-465
3.42 AFS
9128285T3
Treasury
T 2 5/8 12/31/25
2.63 12/31/25
5,000
100.00
100.45
23 2.624
3.75 -10.05
-505
-482
3.54 AFS
9128285T3
Treasury
T 2 5/8 12/31/25
2.63 12/31/25
3,000
100.00
100.45
14 2.624
3.75 -10.05
-303
-289
3.54 AFS
3135G06G3
Agency Bullet
FNMA 0 1/2 11/07/25
0.50 11/07/25
3,000
100.00
93.19 -204
0.500
3.60 -10.00
-280
-484
3.53 AFS
3134GXBM5
Callable Agency
FHLMC 0.6 11/12/25
0.60 11/12/25
1,150
100.00
93.32 -77
0.600
3.62 -9.92
-107
-183
3.40 AFS
3134GWUG9
Callable Agency
FHLMC 0.57 09/24/25
0.57 09/24/25
10,000
100.00
93.52 -648
0.570
3.48 -9.60
-897
-1,546
3.30 AFS
3133EJYM5
Agency Bullet
FFCB 3.02 09/04/25
3.02 09/04/25
1,000
100.00
101.66
17 3.020
3.43 -9.22
-94
-77
3.25 AFS
1.38 38,150
100.00
95.84 -1,588
1.381
3.75 -10.30
-3,767
-5,355
3.54 Top 10 Up 300 Market Value Changes ($)
Par
Book
Market
Book
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
Yield
WAL
+300
+300
+300
Dur
INT
3134GWUG9
Callable Agency
FHLMC 0.57 09/24/25
0.57 09/24/25
10,000
100.00
93.52 -648
0.570
3.48 -9.60
-897
-1,546
3.30 AFS
3133ENHW3
Callable Agency
FFCB 1.17 06/23/25
1.17 06/23/25
10,000
100.00
95.73 -427
1.170
2.81 -8.78
-840
-1,267
2.91 AFS
91282CDN8
Treasury
T 1 12/15/24
1.00 12/15/24
10,000
100.00
96.19 -381
1.000
2.71 -7.58
-729
-1,110
2.64 AFS
3133ENJC5
Callable Agency
FFCB 1.29 12/22/26
1.29 12/22/26
5,000
100.00
94.08 -296
1.290
4.31 -12.19
-573
-869
4.00 AFS
3130AQEA7
Callable Agency
FHLB 1.05 01/14/25
1.05 01/14/25
7,000
100.00
96.07 -275
1.050
2.54 -7.71
-519
-794
2.59 AFS
9128285T3
Treasury
T 2 5/8 12/31/25
2.63 12/31/25
5,000
100.00
100.45
23 2.624
3.75 -10.05
-505
-482
3.54 AFS
3130AQDY6
Callable Agency
FHLB 1 12/30/24
1.00 12/30/24
6,750
100.00
96.04 -267
1.000
2.58 -7.60
-493
-760
2.55 AFS
91282CBA8
Treasury
T 0 1/8 12/15/23
0.13 12/15/23
10,000
100.00
96.52 -348
0.125
1.71 -5.02
-484
-833
1.72 AFS
3133ELK37
Callable Agency
FFCB 0.78 06/16/25
0.78 06/16/25
5,000
100.00
94.64 -268
0.780
3.04 -8.84
-418
-686
3.00 AFS
3130AN5C0
Callable Agency
FHLB 1.05 04/29/26
1.05 04/29/26
4,000
100.00
94.13 -235
1.050
3.83 -10.86
-409
-644
3.61 AFS
0.97 72,750
100.00
95.71 -3,124
0.968
2.93 -8.43
-5,867
-8,991
2.86
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Key Portfolio Sorts
Top 10 Marked to Market Up 300 Loss Positions
Par
Book
Market
Book
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
Yield
WAL
+300
+300
+300
Dur
INT
3134GWUG9
Callable Agency
FHLMC 0.57 09/24/25
0.57 09/24/25
10,000
100.00
93.52 -648
0.570
3.48 -9.60
-897
-1,546
3.30 AFS
3133ENHW3
Callable Agency
FFCB 1.17 06/23/25
1.17 06/23/25
10,000
100.00
95.73 -427
1.170
2.81 -8.78
-840
-1,267
2.91 AFS
91282CDN8
Treasury
T 1 12/15/24
1.00 12/15/24
10,000
100.00
96.19 -381
1.000
2.71 -7.58
-729
-1,110
2.64 AFS
3133ENJC5
Callable Agency
FFCB 1.29 12/22/26
1.29 12/22/26
5,000
100.00
94.08 -296
1.290
4.31 -12.19
-573
-869
4.00 AFS
91282CBA8
Treasury
T 0 1/8 12/15/23
0.13 12/15/23
10,000
100.00
96.52 -348
0.125
1.71 -5.02
-484
-833
1.72 AFS
3130AQEA7
Callable Agency
FHLB 1.05 01/14/25
1.05 01/14/25
7,000
100.00
96.07 -275
1.050
2.54 -7.71
-519
-794
2.59 AFS
3130AQDY6
Callable Agency
FHLB 1 12/30/24
1.00 12/30/24
6,750
100.00
96.04 -267
1.000
2.58 -7.60
-493
-760
2.55 AFS
3133ELK37
Callable Agency
FFCB 0.78 06/16/25
0.78 06/16/25
5,000
100.00
94.64 -268
0.780
3.04 -8.84
-418
-686
3.00 AFS
3133EMUP5
Callable Agency
FFCB 0.71 04/01/25
0.71 04/01/25
5,000
100.00
94.79 -260
0.710
3.00 -8.33
-395
-655
2.83 AFS
3130AN5C0
Callable Agency
FHLB 1.05 04/29/26
1.05 04/29/26
4,000
100.00
94.13 -235
1.050
3.83 -10.86
-409
-644
3.61 AFS
0.84 72,750
100.00
95.32 -3,407
0.836
2.88 -8.30
-5,757
-9,164
2.81 Top 10 Average Life Extension Up 300bps
Par
Book
Market
Book
% Px
Δ
Eff.
WAL
Chg in
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
Yield
+300
Dur
WAL
+300
WAL
INT
3133ENHW3
Callable Agency
FFCB 1.17 06/23/25
1.17 06/23/25
10,000
100.00
95.73 -427
1.170
-8.78
2.91 2.81
3.23 0.42
AFS
3133ENJC5
Callable Agency
FFCB 1.29 12/22/26
1.29 12/22/26
5,000
100.00
94.08 -296
1.290
-12.19
4.00 4.31
4.73 0.42
AFS
3130AQEA7
Callable Agency
FHLB 1.05 01/14/25
1.05 01/14/25
7,000
100.00
96.07 -275
1.050
-7.71
2.59 2.54
2.79 0.25
AFS
3130AN5C0
Callable Agency
FHLB 1.05 04/29/26
1.05 04/29/26
4,000
100.00
94.13 -235
1.050
-10.86
3.61 3.83
4.08 0.25
AFS
3130AQDY6
Callable Agency
FHLB 1 12/30/24
1.00 12/30/24
6,750
100.00
96.04 -267
1.000
-7.60
2.55 2.58
2.75 0.17
AFS
3133ELK37
Callable Agency
FFCB 0.78 06/16/25
0.78 06/16/25
5,000
100.00
94.64 -268
0.780
-8.84
3.00 3.04
3.21 0.17
AFS
3130AMHH8
Callable Agency
FHLB 0.41 08/01/24
0.41 08/01/24
4,000
100.00
95.46 -182
0.410
-6.60
2.27 2.17
2.34 0.17
AFS
30231GAR3
Industrial
XOM 2.726 03/01/23
2.73 03/01/23
1,000
100.00
100.73
7 2.727
-2.64
0.84 0.75
0.92 0.17
AFS
92826CAC6
Finance
V 2.8 12/14/22
2.80 12/14/22
1,500
100.00
100.79
12 2.800
-1.99
0.59 0.54
0.71 0.17
AFS
594918BH6
Industrial
MSFT 2.65 11/03/22
2.65 11/03/22
1,000
100.00
100.54
5 2.651
-1.68
0.48 0.43
0.59 0.17
AFS
1.14 45,250
100.00
95.74 -1,926
1.140
-8.26
2.76 2.79
3.06 0.27
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Agency - CUSIP Detail
Maturity
Book
Market
Gain/(Loss)
% Px
Δ
Eff.
CUSIP
Cpn Type
Next Call Dt
Step Date
Proj.
Price
Price
bp
→
call
%
-100
Dur
ESG/Gr
Security Description
Ticker
Par
Coupon
Call Type
Step Cpn
Final
Value
Yield
Value
Yield
$
+300
Cvx
Intent
91282CBA8
Fixed
12/23
100.00
96.52 -3.5%
1.7 1.72
T 0 1/8 12/15/23
T
10,000
0.125
12/15/23
10,000
0.12 9,652
2.21 -348
-5.0
0.03 AFS
91282CBA8
Fixed
12/23
100.00
96.52 -3.5%
1.7 1.72
T 0 1/8 12/15/23
T
5,000
0.125
12/15/23
5,000
0.12 4,826
2.21 -174
-5.0
0.03 AFS
9128285U0
Fixed
12/23
100.00
100.67
0.7%
1.8 1.72
T 2 5/8 12/31/23
T
5,000
2.625
12/31/23
5,000
2.63 5,034
2.24 34
-5.1
0.04 AFS
912828V23
Fixed
12/23
100.00
100.03
0.0%
1.8 1.73
T 2 1/4 12/31/23
T
5,000
2.250
12/31/23
5,000
2.25 5,002
2.24 2
-5.1
0.04 AFS
912828V23
Fixed
12/23
100.00
100.03
0.0%
1.8 1.73
T 2 1/4 12/31/23
T
4,000
2.250
12/31/23
4,000
2.25 4,001
2.24 1
-5.1
0.04 AFS
9128286R6
Fixed
04/24
100.00
99.80 -0.2%
2.1 2.01
T 2 1/4 04/30/24
T
5,000
2.250
04/30/24
5,000
2.25 4,990
2.35 -10
-5.9
0.05 AFS
91282CDN8
Fixed
12/24
100.00
96.19 -3.8%
2.7 2.64
T 1 12/15/24
T
10,000
1.000
12/15/24
10,000
1.00 9,619
2.46 -381
-7.6
0.08 AFS
91282CDN8
Fixed
12/24
100.00
96.19 -3.8%
2.7 2.64
T 1 12/15/24
T
5,000
1.000
12/15/24
5,000
1.00 4,809
2.46 -191
-7.6
0.08 AFS
91282CDN8
Fixed
12/24
100.00
96.19 -3.8%
2.7 2.64
T 1 12/15/24
T
5,000
1.000
12/15/24
5,000
1.00 4,809
2.46 -191
-7.6
0.08 AFS
9128283P3
Fixed
12/24
100.00
99.42 -0.6%
2.7 2.64
T 2 1/4 12/31/24
T
3,000
2.250
12/31/24
3,000
2.25 2,983
2.47 -17
-7.6
0.09 AFS
912828N30
Fixed
12/22
100.00
100.50
0.5%
0.8 0.76
T 2 1/8 12/31/22
T
3,000
2.125
12/31/22
3,000
2.13 3,015
1.46 15
-2.2
0.01 AFS
9128284S6
Fixed
05/23
100.00
100.98
1.0%
1.2 1.16
T 2 3/4 05/31/23
T
2,815
2.750
05/31/23
2,815
2.75 2,843
1.89 28
-3.4
0.02 AFS
9128285T3
Fixed
12/25
100.00
100.45
0.5%
3.6 3.54
T 2 5/8 12/31/25
T
3,000
2.625
12/31/25
3,000
2.62 3,014
2.50 14
-10.1
0.15 AFS
9128285T3
Fixed
12/25
100.00
100.45
0.5%
3.6 3.54
T 2 5/8 12/31/25
T
5,000
2.625
12/31/25
5,000
2.62 5,023
2.50 23
-10.1
0.15 AFS
9128286F2
Fixed
02/26
100.00
99.97 0.0%
3.8 3.71
T 2 1/2 02/28/26
T
3,000
2.500
02/28/26
3,000
2.50 2,999
2.51 -1
-10.5
0.16 AFS
Treasury
100.00
98.38 -1.6%
2.3 2.24
73,815
1.570
73,815
1.57 72,617
2.30 -1,198
-6.5
0.07 3135G06G3
Fixed
11/25
100.00
93.19 -6.8%
3.6 3.53
FNMA 0 1/2 11/07/25
FNMA
3,000
0.500
11/07/25
3,000
0.50 2,796
2.49 -204
-10.0
0.14 AFS
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Agency - CUSIP Detail
Maturity
Book
Market
Gain/(Loss)
% Px
Δ
Eff.
CUSIP
Cpn Type
Next Call Dt
Step Date
Proj.
Price
Price
bp
→
call
%
-100
Dur
ESG/Gr
Security Description
Ticker
Par
Coupon
Call Type
Step Cpn
Final
Value
Yield
Value
Yield
$
+300
Cvx
Intent
3133EKPT7
Fixed
06/23
100.00
100.27
0.3%
1.2 1.18
FFCB 2 1/8 06/05/23
FFCB
5,000
2.125
06/05/23
5,000
2.12 5,013
1.89 13
-3.5
0.02 AFS
3133EJYM5
Fixed
09/25
100.00
101.66
1.7%
3.3 3.25
FFCB 3.02 09/04/25
FFCB
1,000
3.020
09/04/25
1,000
3.02 1,017
2.51 17
-9.2
0.12 AFS
3133EJYM5
Fixed
09/25
100.00
101.66
1.7%
3.3 3.25
FFCB 3.02 09/04/25
FFCB
2,000
3.020
09/04/25
2,000
3.02 2,033
2.51 33
-9.2
0.12 AFS
Agency Bullet
100.00
98.72 -1.3%
2.4 2.36
11,000
1.926
11,000
1.93 10,859
2.22 -141
-6.8
0.08 3133ENJC5
Fixed
12/22/23
07/26
100.00
94.08 -177
-5.9%
3.9 4.00
FFCB 1.29 12/22/26
FFCB
5,000
1.290
Anytime
12/22/26
5,000
1.29 4,704
2.76 -296
-12.2
-0.24
AFS
3134GWUG9
Fixed
06/24/22
09/25
100.00
93.52 -247
-6.5%
3.3 3.30
FHLMC 0.57 09/24/25
FHLMC
10,000
0.570
Quarterly
09/24/25
10,000
0.57 9,352
2.53 -648
-9.6
0.01 AFS
3134GXBM5
Fixed
05/12/22
11/25
100.00
93.32 -252
-6.7%
3.4 3.40
FHLMC 0.6 11/12/25
FHLMC
1,150
0.600
Quarterly
11/12/25
1,150
0.60 1,073
2.55 -77
-9.9
0.00 AFS
3130AMRQ7
Fixed
06/30/22
12/25
100.00
94.03 -227
-6.0%
3.4 3.42
FHLB 0 7/8 12/30/25
FHLB
3,000
0.875
Quarterly
12/30/25
3,000
0.87 2,821
2.55 -179
-10.1
-0.15
AFS
3130AN5C0
Fixed
04/29/22
01/26
100.00
94.13 -210
-5.9%
3.5 3.61
FHLB 1.05 04/29/26
FHLB
4,000
1.050
Quarterly
04/29/26
4,000
1.05 3,765
2.67 -235
-10.9
-0.16
AFS
3133EMUP5
Fixed
04/13/22
04/25
100.00
94.79 -235
-5.2%
2.8 2.83
FFCB 0.71 04/01/25
FFCB
5,000
0.710
Anytime
04/01/25
5,000
0.71 4,740
2.52 -260
-8.3
-0.05
AFS
3133ENHW3
Fixed
04/13/22
01/25
100.00
95.73 -187
-4.3%
2.8 2.91
FFCB 1.17 06/23/25
FFCB
10,000
1.170
Anytime
06/23/25
10,000
1.17 9,573
2.76 -427
-8.8
-0.11
AFS
3133ELK37
Fixed
04/13/22
04/25
100.00
94.64 -227
-5.4%
3.0 3.00
FFCB 0.78 06/16/25
FFCB
5,000
0.780
Anytime
06/16/25
5,000
0.78 4,732
2.62 -268
-8.8
-0.07
AFS
3136G4ZP1
Fixed
04/30/22
07/25
100.00
93.96 -246
-6.0%
3.1 3.14
FNMA 0.65 07/30/25
FNMA
3,500
0.650
Quarterly
07/30/25
3,500
0.65 3,288
2.55 -212
-9.2
-0.02
AFS
3133EL2X1
Fixed
04/13/22
04/24
100.00
96.06 -229
-3.9%
2.0 2.04
FFCB 0.42 05/06/24
FFCB
2,000
0.420
Anytime
05/06/24
2,000
0.42 1,921
2.44 -79
-6.0
0.01 AFS
3130AMQR6
Fixed
06/07/22
06/24
100.00
95.69 -234
-4.3%
2.1 2.13
FHLB 0.35 06/07/24
FHLB
3,000
0.350
Quarterly
06/07/24
3,000
0.35 2,871
2.38 -129
-6.2
0.02 AFS
3130AMHH8
Fixed
06/01/22
06/24
100.00
95.46 -236
-4.5%
2.3 2.27
FHLB 0.41 08/01/24
FHLB
4,000
0.410
Quarterly
08/01/24
4,000
0.41 3,818
2.58 -182
-6.6
0.02 AFS
3130AQDY6
Fixed
06/30/22
10/24
100.00
96.04 -193
-4.0%
2.5 2.55
FHLB 1 12/30/24
FHLB
6,750
1.000
Anytime
12/30/24
6,750
1.00 6,483
2.60 -267
-7.6
-0.06
AFS
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Agency - CUSIP Detail
Maturity
Book
Market
Gain/(Loss)
% Px
Δ
Eff.
CUSIP
Cpn Type
Next Call Dt
Step Date
Proj.
Price
Price
bp
→
call
%
-100
Dur
ESG/Gr
Security Description
Ticker
Par
Coupon
Call Type
Step Cpn
Final
Value
Yield
Value
Yield
$
+300
Cvx
Intent
3134GWNG7
Fixed
05/27/22
11/24
100.00
94.93 -234
-5.1%
2.6 2.57
FHLMC 0 1/2 11/27/24
FHLMC
2,000
0.500
Quarterly
11/27/24
2,000
0.50 1,899
2.48 -101
-7.5
0.01 AFS
3130AQEA7
Fixed
04/14/22
10/24
100.00
96.07 -185
-3.9%
2.5 2.59
FHLB 1.05 01/14/25
FHLB
7,000
1.050
Quarterly
01/14/25
7,000
1.05 6,725
2.66 -275
-7.7
-0.08
AFS
Callable Agency
100.00
94.91 -5.1%
2.9 2.95
71,400
0.836
71,400
0.84 67,764
2.61 -3,636
-8.7
-0.07
Total
100.00
96.82 -3.2%
2.6 2.57
156,215
1.260
156,215
1.26 151,240
2.43 -4,975
-7.5
0.01
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Corporate - CUSIP Detail
Rating
Book
Market
Gain/(Loss)
% Px
Δ
Eff.
CUSIP
Sector
Par
Index
S&P
Price
Price
%
-100
Dur
ESG/Gr
Security Description
Subsector
Value
Cpn
Maturity
Margin
Moody's
Value
Yield
Value
Yield
$
+300
Cvx
Intent
92826CAC6
Finance
AA-
100.00
100.79
0.8%
0.6 0.59
V 2.8 12/14/22
Other Financial
1,500
2.800
12/14/22
Aa3
1,500
2.80 1,512
1.33 12
-2.0
-0.06
AFS
Finance
AA-
100.00
100.79
0.8%
0.6 0.59
1,500
2.800
Aa3
1,500
2.80 1,512
1.33 12
-2.0
-0.06
037833BF6
Industrial
AA+
100.00
100.19
0.2%
0.1 0.12
AAPL 2.7 05/13/22
Manufacturing
1,000
2.700
05/13/22
Aaa
1,000
2.69 1,002
1.08 2
-0.4
0.00 AFS
594918BH6
Industrial
AAA
100.00
100.54
0.5%
0.5 0.48
MSFT 2.65 11/03/22
Manufacturing
1,000
2.650
11/03/22
Aaa
1,000
2.65 1,005
1.38 5
-1.7
-0.06
AFS
037833DE7
Industrial
AA+
100.00
100.69
0.7%
0.7 0.75
AAPL 2.4 01/13/23
Manufacturing
1,000
2.400
01/13/23
Aaa
1,000
2.40 1,007
1.41 7
-2.3
-0.04
AFS
30231GAR3
Industrial
AA-
100.00
100.73
0.7%
0.8 0.84
XOM 2.726 03/01/23
Energy Company
1,000
2.726
03/01/23
Aa2
1,000
2.73 1,007
1.75 7
-2.6
-0.04
AFS
30231GBL5
Industrial
AA-
100.00
99.65 -0.3%
1.1 1.04
XOM 1.571 04/15/23
Energy Company
5,000
1.571
04/15/23
Aa2
5,000
1.57 4,983
1.91 -17
-3.1
0.01 AFS
166764BV1
Industrial
AA-
100.00
98.87 -1.1%
1.1 1.11
CVX 1.141 05/11/23
Energy Company
2,075
1.141
05/11/23
Aa2
2,075
1.14 2,052
2.17 -23
-3.3
0.02 AFS
Industrial
AA
100.00
99.83 -0.2%
0.9 0.87
11,075
1.869
Aa1
11,075
1.87 11,056
1.77 -19
-2.6
0.00 Total
AA
100.00
99.94 -0.1%
0.8 0.84
12,575
1.980
Aa1
12,575
1.98 12,568
1.72 -7
-2.6
-0.01
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
CD - CUSIP Detail
Coupon
Step
Maturity
Book
Market
Gain/(Loss)
% Px
Δ
Effective
CUSIP
Par
Type
Date
Proj.
Price
Price
%
-100
Dur
ESG/G
r
Security Description
Ticker
Value
Rate
Rate
Final
Value
Yield
Value
Yield
$
+300
Cvx
Intent
05580AMR2
Fixed
05/22
100.00
100.23
0.2%
0.1 0.11
BMW 2.95 05/11/22
BMW
245
2.950
05/11/22
245
2.89 246
0.88 1
-0.3
0.00 AFS
86063QAN5
Fixed
05/22
100.00
100.25
0.3%
0.1 0.13
SF 2.85 05/16/22
SF
245
2.850
05/16/22
245
2.83 246
0.85 1
-0.4
0.00 AFS
29278TBF6
Fixed
05/22
100.00
100.28
0.3%
0.1 0.13
Enerbank USA
29278
245
2.950
05/18/22
245
2.97 246
0.85 1
-0.4
0.00 AFS
51210SMT1
Fixed
05/22
100.00
100.18
0.2%
0.2 0.17
LAKESD 2 05/31/22
LAKESD
245
2.000
05/31/22
245
2.01 245
0.93 0
-0.5
0.00 AFS
02587CFM7
Fixed
05/22
100.00
100.25
0.3%
0.2 0.17
AXP 2.4 05/31/22
AXP
245
2.400
05/31/22
245
2.40 246
0.90 1
-0.5
0.00 AFS
61747MX30
Fixed
05/23
100.00
101.79
1.8%
1.1 1.10
MS 3.15 05/10/23
MS
245
3.150
05/10/23
245
3.14 249
1.51 4
-3.3
0.01 AFS
87164WWF1
Fixed
05/23
100.00
101.80
1.8%
1.1 1.10
SYF 3.15 05/11/23
SYF
245
3.150
05/11/23
245
3.14 249
1.51 4
-3.3
0.02 AFS
17312QL23
Fixed
05/23
100.00
101.80
1.8%
1.1 1.10
C 3.15 05/11/23
C
245
3.150
05/11/23
245
3.14 249
1.51 4
-3.3
0.02 AFS
20033AYE0
Fixed
05/23
100.00
101.69
1.7%
1.1 1.11
ADS 3.1 05/15/23
ADS
245
3.100
05/15/23
245
3.12 249
1.58 4
-3.3
0.02 AFS
NCD
100.00
100.92
0.9%
0.6 0.57
2,205
2.856
2,205
2.85 2,225
1.17 20
-1.7
0.01 Total
100.00
100.92
0.9%
0.6 0.57
2,205
2.856
2,205
2.85 2,225
1.17 20
-1.7
0.01
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Other - CUSIP Detail
Coupon
Step
Maturity
Book
Market
Gain/(Loss)
% Px
Δ
Effective
Par
Type
Date
Proj.
Price
Price
%
-100
Dur
ESG/G
r
CUSIP
Ticker
Value
Rate
Rate
Final
Value
Yield
Value
Yield
$
+300
Cvx
Intent
Fixed
04/22
100.00
100.00
0.0%
0.1 0.08
PLMDLCAMP
249
0.300
04/30/22
249
0.30 249
0.30 0
-0.2
0.00 AFS
Fixed
04/22
100.00
100.00
0.0%
0.1 0.08
PLMDLLAIF
17,711
0.780
04/30/22
17,711
0.78 17,711
0.78 0
-0.2
0.00 AFS
Fixed
04/22
100.00
100.00
0.0%
0.1 0.08
PLMDLLAIF
30,095
0.780
04/30/22
30,095
0.78 30,095
0.78 0
-0.2
0.00 AFS
Fixed
04/22
100.00
100.00
0.0%
0.1 0.08
PLMDLLAIF
17,221
0.780
04/30/22
17,221
0.78 17,221
0.78 0
-0.2
0.00 AFS
100.00
100.00
0.0%
0.1 0.08
Cash & Other
65,275
0.778
65,275
0.78 65,275
0.78 0
-0.2
0.00 100.00
100.00
0.0%
0.1 0.08
Total
65,275
0.778
65,275
0.78 65,275
0.78 0
-0.2
0.00
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Shocked CUSIP Analysis
-200
-100
Base
+100
+200
+300
+400
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
Dur
WAL
WAL
WAL
WAL
WAL
2,000
74 3.83%
39 2.05%
0 0.00%
-39
-2.03%
-77
-4.02%
-115
-5.96%
-151
-7.86%
3133EL2X1
0.42 99.74
1.03 98.03
1.75 96.06
2.44 94.11
3.35 92.19
4.35 90.33
5.35 88.51
6.35 FFCB 0.42 05/06/24
05/06/2024
0.43 1.51
2.04 2.01
2.10 2.10
2.10 2.10
5,000
242
5.11%
133
2.81%
0 0.00%
-135
-2.84%
-267
-5.63%
-395
-8.33%
-519
-10.94%
3133EMUP5
0.71 99.64
1.07 97.46
1.87 94.79
2.52 92.10
3.50 89.46
4.50 86.90
5.50 84.42
6.50 FFCB 0.71 04/01/25
04/01/2025
1.00 2.25
2.83 3.00
3.00 3.00
3.00 3.00
5,000
254
5.37%
140
2.97%
0 0.00%
-143
-3.01%
-283
-5.97%
-418
-8.84%
-550
-11.61%
3133ELK37
0.78 99.72
1.05 97.45
1.81 94.64
2.62 91.79
3.50 88.99
4.50 86.27
5.50 83.65
6.50 FFCB 0.78 06/16/25
06/16/2025
1.04 2.54
3.00 3.04
3.21 3.21
3.21 3.21
10,000
445
4.65%
270
2.82%
0 0.00%
-283
-2.96%
-566
-5.91%
-840
-8.78%
-1,106
-11.55%
3133ENHW3
1.17 100.18
-8.01
98.43 1.95
95.73 2.76
92.90 3.52
90.07 4.51
87.33 5.50
84.67 6.51
FFCB 1.17 06/23/25
06/23/2025
0.02 2.06
2.91 2.81
3.23 3.23
3.23 3.23
5,000
333
7.08%
183
3.88%
0 0.00%
-193
-4.10%
-386
-8.21%
-573
-12.19%
-753
-16.00%
3133ENJC5
1.29 100.74
0.86 97.73
1.95 94.08
2.76 90.23
3.55 86.36
4.53 82.61
5.52 79.03
6.52 FFCB 1.29 12/22/26
12/22/2026
1.73 3.56
4.00 4.31
4.73 4.73
4.73 4.73
5,000
120
2.40%
60 1.19%
0 0.00%
-59
-1.17%
-117
-2.33%
-174
-3.47%
-231
-4.60%
3133EKPT7
2.13 102.68
-0.14
101.46
0.87 100.27
1.89 99.09
2.91 97.93
3.93 96.79
4.96 95.66
5.99 FFCB 2 1/8 06/05/23
06/05/2023
1.18 1.18
1.18 1.18
1.18 1.18
1.18 1.18
1,000
69 6.77%
34 3.32%
0 0.00%
-32
-3.19%
-64
-6.27%
-94
-9.22%
-123
-12.07%
3133EJYM5
3.02 108.54
0.50 105.04
1.51 101.66
2.51 98.42
3.51 95.29
4.52 92.29
5.52 89.39
6.52 FFCB 3.02 09/04/25
09/04/2025
3.43 3.43
3.25 3.43
3.43 3.43
3.43 3.43
2,000
138
6.77%
67 3.32%
0 0.00%
-65
-3.19%
-127
-6.27%
-188
-9.22%
-245
-12.07%
3133EJYM5
3.02 108.54
0.50 105.04
1.51 101.66
2.51 98.42
3.51 95.29
4.52 92.29
5.52 89.39
6.52 FFCB 3.02 09/04/25
09/04/2025
3.43 3.43
3.25 3.43
3.43 3.43
3.43 3.43
3,000
169
6.00%
95 3.36%
0 0.00%
-97
-3.45%
-193
-6.86%
-286
-10.15%
-376
-13.32%
3130AMRQ7
0.88 99.67
1.14 97.19
1.84 94.03
2.55 90.78
3.52 87.58
4.51 84.48
5.51 81.51
6.51 FHLB 0 7/8 12/30/25
12/30/2025
1.25 3.00
3.42 3.75
3.75 3.75
3.75 3.75
3,000
118
4.10%
62 2.14%
0 0.00%
-61
-2.12%
-120
-4.19%
-178
-6.20%
-234
-8.17%
3130AMQR6
0.35 99.61
0.92 97.74
1.71 95.69
2.38 93.66
3.38 91.68
4.38 89.75
5.38 87.88
6.38 FHLB 0.35 06/07/24
06/07/2024
0.69 1.69
2.13 2.19
2.19 2.19
2.19 2.19
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Shocked CUSIP Analysis
-200
-100
Base
+100
+200
+300
+400
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
Dur
WAL
WAL
WAL
WAL
WAL
4,000
165
4.33%
87 2.28%
0 0.00%
-86
-2.25%
-170
-4.46%
-252
-6.60%
-331
-8.68%
3130AMHH8
0.41 99.59
1.03 97.63
1.86 95.46
2.58 93.30
3.42 91.20
4.41 89.16
5.41 87.17
6.41 FHLB 0.41 08/01/24
08/01/2024
0.67 1.67
2.27 2.17
2.34 2.34
2.34 2.34
6,750
279
4.31%
162
2.50%
0 0.00%
-167
-2.58%
-332
-5.12%
-493
-7.60%
-649
-10.01%
3130AQDY6
1.00 100.17
0.30 98.44
1.87 96.04
2.60 93.56
3.47 91.12
4.47 88.74
5.47 86.43
6.47 FHLB 1 12/30/24
12/30/2024
0.25 1.83
2.55 2.58
2.75 2.75
2.75 2.75
7,000
283
4.21%
171
2.54%
0 0.00%
-176
-2.61%
-349
-5.20%
-519
-7.71%
-682
-10.15%
3130AQEA7
1.05 100.11
-1.79
98.51 1.90
96.07 2.66
93.56 3.49
91.08 4.49
88.66 5.49
86.32 6.49
FHLB 1.05 01/14/25
01/14/2025
0.04 1.79
2.59 2.54
2.79 2.79
2.79 2.79
4,000
233
6.19%
133
3.53%
0 0.00%
-138
-3.68%
-276
-7.32%
-409
-10.86%
-536
-14.25%
3130AN5C0
1.05 99.96
1.10 97.45
1.91 94.13
2.67 90.67
3.52 87.24
4.51 83.91
5.51 80.72
6.50 FHLB 1.05 04/29/26
04/29/2026
0.83 3.08
3.61 3.83
4.08 4.08
4.08 4.08
2,000
92 4.86%
49 2.57%
0 0.00%
-48
-2.55%
-96
-5.04%
-142
-7.45%
-186
-9.80%
3134GWNG7
0.50 99.55
1.00 97.37
1.75 94.93
2.48 92.51
3.47 90.15
4.47 87.86
5.47 85.64
6.47 FHLMC 0 1/2 11/27/24
11/27/2024
0.91 2.16
2.57 2.66
2.66 2.66
2.66 2.66
10,000
573
6.12%
306
3.28%
0 0.00%
-307
-3.28%
-607
-6.50%
-897
-9.60%
-1,177
-12.58%
3134GWUG9
0.57 99.24
1.01 96.58
1.86 93.52
2.53 90.44
3.51 87.44
4.51 84.54
5.51 81.75
6.51 FHLMC 0.57 09/24/25
09/24/2025
1.73 2.73
3.30 3.48
3.48 3.48
3.48 3.48
1,150
67 6.29%
36 3.38%
0 0.00%
-36
-3.40%
-72
-6.72%
-107
-9.92%
-140
-13.01%
3134GXBM5
0.60 99.19
1.04 96.47
1.87 93.32
2.55 90.15
3.53 87.05
4.52 84.06
5.52 81.18
6.53 FHLMC 0.6 11/12/25
11/12/2025
1.87 2.87
3.40 3.62
3.62 3.62
3.62 3.62
3,000
206
7.38%
101
3.61%
0 0.00%
-97
-3.47%
-190
-6.80%
-280
-10.00%
-366
-13.08%
3135G06G3
0.50 100.06
0.48 96.56
1.49 93.19
2.49 89.95
3.49 86.85
4.49 83.87
5.50 81.00
6.50 FNMA 0 1/2 11/07/25
11/07/2025
3.60 3.60
3.53 3.60
3.60 3.60
3.60 3.60
3,500
190
5.77%
103
3.12%
0 0.00%
-103
-3.14%
-204
-6.21%
-302
-9.19%
-396
-12.05%
3136G4ZP1
0.65 99.38
1.05 96.89
1.89 93.96
2.55 91.01
3.53 88.12
4.53 85.32
5.53 82.63
6.53 FNMA 0.65 07/30/25
07/30/2025
1.58 2.58
3.14 3.33
3.33 3.33
3.33 3.33
10,000
339
3.51%
168
1.74%
0 0.00%
-165
-1.70%
-326
-3.38%
-484
-5.02%
-639
-6.62%
91282CBA8
0.13 99.91
0.18 98.19
1.20 96.52
2.21 94.87
3.23 93.26
4.26 91.67
5.28 90.12
6.31 T 0 1/8 12/15/23
12/15/2023
1.71 1.71
1.72 1.71
1.71 1.71
1.71 1.71
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Shocked CUSIP Analysis
-200
-100
Base
+100
+200
+300
+400
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
Dur
WAL
WAL
WAL
WAL
WAL
5,000
169
3.51%
84 1.74%
0 0.00%
-82
-1.70%
-163
-3.38%
-242
-5.02%
-320
-6.62%
91282CBA8
0.13 99.91
0.18 98.19
1.20 96.52
2.21 94.87
3.23 93.26
4.26 91.67
5.28 90.12
6.31 T 0 1/8 12/15/23
12/15/2023
1.71 1.71
1.72 1.71
1.71 1.71
1.71 1.71
5,000
263
5.47%
129
2.69%
0 0.00%
-125
-2.61%
-247
-5.13%
-364
-7.58%
-478
-9.95%
91282CDN8
1.00 101.45
0.46 98.78
1.46 96.19
2.46 93.68
3.47 91.25
4.47 88.90
5.47 86.62
6.46 T 1 12/15/24
12/15/2024
2.71 2.71
2.64 2.71
2.71 2.71
2.71 2.71
5,000
263
5.47%
129
2.69%
0 0.00%
-125
-2.61%
-247
-5.13%
-364
-7.58%
-478
-9.95%
91282CDN8
1.00 101.45
0.46 98.78
1.46 96.19
2.46 93.68
3.47 91.25
4.47 88.90
5.47 86.62
6.46 T 1 12/15/24
12/15/2024
2.71 2.71
2.64 2.71
2.71 2.71
2.71 2.71
10,000
526
5.47%
259
2.69%
0 0.00%
-251
-2.61%
-494
-5.13%
-729
-7.58%
-957
-9.95%
91282CDN8
1.00 101.45
0.46 98.78
1.46 96.19
2.46 93.68
3.47 91.25
4.47 88.90
5.47 86.62
6.46 T 1 12/15/24
12/15/2024
2.71 2.71
2.64 2.71
2.71 2.71
2.71 2.71
3,000
233
7.76%
114
3.80%
0 0.00%
-109
-3.64%
-213
-7.12%
-314
-10.45%
-409
-13.65%
9128286F2
2.50 107.73
0.51 103.76
1.51 99.97
2.51 96.33
3.51 92.85
4.51 89.52
5.51 86.32
6.51 T 2 1/2 02/28/26
02/28/2026
3.92 3.92
3.71 3.92
3.92 3.92
3.92 3.92
5,000
208
4.16%
102
2.05%
0 0.00%
-100
-2.00%
-197
-3.95%
-292
-5.85%
-385
-7.71%
9128286R6
2.25 103.95
0.35 101.85
1.35 99.80
2.35 97.80
3.35 95.85
4.35 93.96
5.35 92.11
6.35 T 2 1/4 04/30/24
04/30/2024
2.08 2.08
2.01 2.08
2.08 2.08
2.08 2.08
4,000
142
3.55%
70 1.76%
0 0.00%
-69
-1.72%
-136
-3.41%
-203
-5.06%
-267
-6.68%
912828V23
2.25 103.58
0.20 101.79
1.22 100.03
2.24 98.31
3.26 96.62
4.28 94.97
5.30 93.35
6.33 T 2 1/4 12/31/23
12/31/2023
1.75 1.75
1.73 1.75
1.75 1.75
1.75 1.75
5,000
178
3.55%
88 1.76%
0 0.00%
-86
-1.72%
-171
-3.41%
-253
-5.06%
-334
-6.68%
912828V23
2.25 103.58
0.20 101.79
1.22 100.03
2.24 98.31
3.26 96.62
4.28 94.97
5.30 93.35
6.33 T 2 1/4 12/31/23
12/31/2023
1.75 1.75
1.73 1.75
1.75 1.75
1.75 1.75
3,000
164
5.49%
81 2.70%
0 0.00%
-78
-2.61%
-153
-5.14%
-227
-7.60%
-297
-9.97%
9128283P3
2.25 104.88
0.47 102.11
1.47 99.42
2.47 96.82
3.47 94.31
4.47 91.87
5.48 89.51
6.48 T 2 1/4 12/31/24
12/31/2024
2.75 2.75
2.64 2.75
2.75 2.75
2.75 2.75
3,000
46 1.53%
23 0.76%
0 0.00%
-23
-0.76%
-45
-1.50%
-68
-2.24%
-90
-2.98%
912828N30
2.13 102.04
-0.58
101.27
0.44 100.50
1.46 99.74
2.48 98.99
3.51 98.24
4.54 97.51
5.57 T 2 1/8 12/31/22
12/31/2022
0.75 0.75
0.76 0.75
0.75 0.75
0.75 0.75
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Shocked CUSIP Analysis
-200
-100
Base
+100
+200
+300
+400
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
Dur
WAL
WAL
WAL
WAL
WAL
2,815
67 2.37%
33 1.18%
0 0.00%
-33
-1.16%
-65
-2.30%
-97
-3.43%
-129
-4.54%
9128284S6
2.75 103.38
-0.14
102.17
0.88 100.98
1.89 99.81
2.91 98.66
3.94 97.52
4.96 96.40
5.99 T 2 3/4 05/31/23
05/31/2023
1.17 1.17
1.16 1.17
1.17 1.17
1.17 1.17
5,000
178
3.54%
88 1.75%
0 0.00%
-86
-1.72%
-171
-3.40%
-254
-5.05%
-336
-6.67%
9128285U0
2.63 104.24
0.20 102.44
1.22 100.67
2.24 98.94
3.26 97.25
4.28 95.59
5.30 93.96
6.33 T 2 5/8 12/31/23
12/31/2023
1.75 1.75
1.72 1.75
1.75 1.75
1.75 1.75
5,000
373
7.43%
183
3.64%
0 0.00%
-175
-3.49%
-343
-6.84%
-505
-10.05%
-660
-13.14%
9128285T3
2.63 107.92
0.49 104.11
1.49 100.45
2.50 96.95
3.50 93.58
4.50 90.36
5.50 87.26
6.51 T 2 5/8 12/31/25
12/31/2025
3.75 3.75
3.54 3.75
3.75 3.75
3.75 3.75
3,000
224
7.43%
110
3.64%
0 0.00%
-105
-3.49%
-206
-6.84%
-303
-10.05%
-396
-13.14%
9128285T3
2.63 107.92
0.49 104.11
1.49 100.45
2.50 96.95
3.50 93.58
4.50 90.36
5.50 87.26
6.51 T 2 5/8 12/31/25
12/31/2025
3.75 3.75
3.54 3.75
3.75 3.75
3.75 3.75
Treasury/Agency
156,215
7,425
4.91%
3,892
2.57%
0 0.00%
-3,879
-2.56%
-7,676
-5.08%
-11,360
-7.51%
-14,925
-9.87%
1.26 101.57
-0.11
99.31 1.55
96.82 2.43
94.33 3.39
91.90 4.39
89.54 5.40
87.26 6.40
1.65 2.33
2.57 2.65
2.73 2.73
2.73 2.73
1,000
15 1.47%
8 0.74%
0 0.00%
-8
-0.77%
-16
-1.54%
-23
-2.32%
-31
-3.08%
037833DE7
2.40 102.17
-0.68
101.44
0.35 100.69
1.41 99.92
2.52 99.14
3.65 98.36
4.55 97.59
5.58 AAPL 2.4 01/13/23
01/13/2023
0.70 0.70
0.75 0.70
0.70 0.70
0.79 0.79
1,000
2 0.24%
1 0.12%
0 0.00%
-1
-0.12%
-2
-0.24%
-4
-0.36%
-5
-0.48%
037833BF6
2.70 100.43
-0.92
100.31
0.08 100.19
1.08 100.07
2.09 99.95
3.10 99.83
4.11 99.71
5.13 AAPL 2.7 05/13/22
05/13/2022
0.12 0.12
0.12 0.12
0.12 0.12
0.12 0.12
2,075
47 2.27%
23 1.13%
0 0.00%
-23
-1.11%
-45
-2.21%
-67
-3.29%
-89
-4.35%
166764BV1
1.14 101.12
0.14 99.99
1.15 98.87
2.17 97.77
3.19 96.69
4.21 95.62
5.24 94.57
6.26 CVX 1.141 05/11/23
05/11/2023
1.11 1.11
1.11 1.11
1.11 1.11
1.11 1.11
1,000
9 0.89%
5 0.46%
0 0.00%
-5
-0.52%
-11
-1.09%
-17
-1.68%
-23
-2.26%
594918BH6
2.65 101.44
-0.72
101.00
0.30 100.54
1.38 100.02
2.61 99.44
3.99 98.85
4.63 98.27
5.66 MSFT 2.65 11/03/22
11/03/2022
0.43 0.43
0.48 0.43
0.43 0.43
0.59 0.59
1,500
17 1.13%
9 0.57%
0 0.00%
-9
-0.63%
-20
-1.30%
-30
-1.99%
-41
-2.68%
92826CAC6
2.80 101.92
-0.75
101.36
0.27 100.79
1.33 100.16
2.50 99.48
3.79 98.78
4.57 98.08
5.60 V 2.8 12/14/22
12/14/2022
0.54 0.54
0.59 0.54
0.54 0.54
0.71 0.71
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Shocked CUSIP Analysis
-200
-100
Base
+100
+200
+300
+400
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
Dur
WAL
WAL
WAL
WAL
WAL
5,000
106
2.12%
52 1.05%
0 0.00%
-52
-1.04%
-103
-2.07%
-153
-3.08%
-203
-4.08%
30231GBL5
1.57 101.77
-0.12
100.70
0.89 99.65
1.91 98.62
2.93 97.60
3.95 96.59
4.97 95.59
6.00 XOM 1.571 04/15/23
04/15/2023
1.04 1.04
1.04 1.04
1.04 1.04
1.04 1.04
1,000
16 1.61%
8 0.82%
0 0.00%
-9
-0.86%
-18
-1.75%
-27
-2.64%
-36
-3.53%
30231GAR3
2.73 102.35
-0.39
101.56
0.65 100.73
1.75 99.86
2.92 98.96
4.14 98.07
4.90 97.18
5.92 XOM 2.726 03/01/23
03/01/2023
0.75 0.75
0.84 0.75
0.75 0.75
0.92 0.92
Corporate
12,575
212
1.68%
106
0.84%
0 0.00%
-107
-0.85%
-214
-1.71%
-321
-2.56%
-427
-3.40%
1.98 101.62
-0.33
100.78
0.68 99.94
1.72 99.09
2.79 98.24
3.90 97.39
4.83 96.54
5.86 0.82
0.82 0.84
0.82 0.82
0.82 0.87
0.87 245
6 2.26%
3 1.12%
0 0.00%
-3
-1.11%
-5
-2.20%
-8
-3.28%
-11
-4.34%
20033AYE0
3.10 103.99
-0.44
102.83
0.57 101.69
1.58 100.56
2.60 99.45
3.62 98.36
4.64 97.28
5.67 ADS 3.1 05/15/23
05/15/2023
1.13 1.13
1.11 1.13
1.13 1.13
1.13 1.13
245
1 0.34%
0 0.17%
0 0.00%
0 -0.17%
-1
-0.34%
-1
-0.51%
-2
-0.68%
02587CFM7
2.40 100.59
-1.14
100.42
-0.12
100.25
0.90 100.08
1.92 99.91
2.95 99.74
3.98 99.57
5.01 AXP 2.4 05/31/22
05/31/2022
0.17 0.17
0.17 0.17
0.17 0.17
0.17 0.17
245
1 0.23%
0 0.12%
0 0.00%
0 -0.11%
-1
-0.23%
-1
-0.34%
-1
-0.46%
05580AMR2
2.95 100.46
-1.12
100.35
-0.12
100.23
0.88 100.11
1.89 100.00
2.90 99.89
3.91 99.77
4.93 BMW 2.95 05/11/22
05/11/2022
0.11 0.11
0.11 0.11
0.11 0.11
0.11 0.11
245
6 2.26%
3 1.12%
0 0.00%
-3
-1.10%
-5
-2.19%
-8
-3.27%
-11
-4.33%
17312QL23
3.15 104.10
-0.52
102.94
0.50 101.80
1.51 100.68
2.53 99.57
3.54 98.47
4.57 97.39
5.59 C 3.15 05/11/23
05/11/2023
1.11 1.11
1.10 1.11
1.11 1.11
1.11 1.11
245
1 0.27%
0 0.13%
0 0.00%
0 -0.13%
-1
-0.27%
-1
-0.40%
-1
-0.53%
29278TBF6
2.95 100.55
-1.15
100.41
-0.15
100.28
0.85 100.15
1.86 100.01
2.86 99.88
3.88 99.75
4.89 Enerbank USA
05/18/2022
0.13 0.13
0.13 0.13
0.13 0.13
0.13 0.13
245
1 0.34%
0 0.17%
0 0.00%
0 -0.17%
-1
-0.34%
-1
-0.51%
-2
-0.67%
51210SMT1
2.00 100.52
-1.11
100.35
-0.09
100.18
0.93 100.01
1.95 99.84
2.98 99.67
4.00 99.51
5.04 LAKESD 2 05/31/22
05/31/2022
0.17 0.17
0.17 0.17
0.17 0.17
0.17 0.17
245
6 2.25%
3 1.12%
0 0.00%
-3
-1.10%
-5
-2.19%
-8
-3.26%
-11
-4.32%
61747MX30
3.15 104.08
-0.51
102.93
0.50 101.79
1.51 100.67
2.53 99.56
3.55 98.47
4.57 97.39
5.60 MS 3.15 05/10/23
05/10/2023
1.11 1.11
1.10 1.11
1.11 1.11
1.11 1.11
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Shocked CUSIP Analysis
-200
-100
Base
+100
+200
+300
+400
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
Dur
WAL
WAL
WAL
WAL
WAL
245
1 0.26%
0 0.13%
0 0.00%
0 -0.13%
-1
-0.25%
-1
-0.38%
-1
-0.51%
86063QAN5
2.85 100.51
-1.15
100.38
-0.15
100.25
0.85 100.12
1.86 99.99
2.87 99.87
3.88 99.74
4.90 SF 2.85 05/16/22
05/16/2022
0.13 0.13
0.13 0.13
0.13 0.13
0.13 0.13
245
6 2.26%
3 1.12%
0 0.00%
-3
-1.10%
-5
-2.19%
-8
-3.27%
-11
-4.33%
87164WWF1
3.15 104.10
-0.52
102.94
0.50 101.80
1.51 100.68
2.53 99.57
3.54 98.47
4.57 97.39
5.59 SYF 3.15 05/11/23
05/11/2023
1.11 1.11
1.10 1.11
1.11 1.11
1.11 1.11
CD
2,205
26 1.17%
13 0.58%
0 0.00%
-13
-0.57%
-25
-1.14%
-38
-1.70%
-50
-2.26%
2.86 102.10
-0.84
101.51
0.16 100.92
1.17 100.34
2.18 99.77
3.20 99.20
4.22 98.64
5.24 0.57
0.57 0.57
0.57 0.57
0.57 0.57
0.57 249
0 0.17%
0 0.08%
0 0.00%
0 -0.08%
0 -0.17%
-1
-0.25%
-1
-0.33%
PLMDLCAMP
0.30 100.17
-1.69
100.08
-0.70
100.00
0.30 99.92
1.30 99.83
2.31 99.75
3.32 99.67
4.34 CAMP
04/30/2022
0.08 0.08
0.08 0.08
0.08 0.08
0.08 0.08
30,095
50 0.17%
25 0.08%
0 0.00%
-25
-0.08%
-50
-0.17%
-75
-0.25%
-100
-0.33%
PLMDLLAIF
0.78 100.17
-1.22
100.08
-0.22
100.00
0.78 99.92
1.79 99.83
2.80 99.75
3.81 99.67
4.83 LAIF
04/30/2022
0.08 0.08
0.08 0.08
0.08 0.08
0.08 0.08
17,221
29 0.17%
14 0.08%
0 0.00%
-14
-0.08%
-29
-0.17%
-43
-0.25%
-57
-0.33%
PLMDLLAIF
0.78 100.17
-1.22
100.08
-0.22
100.00
0.78 99.92
1.79 99.83
2.80 99.75
3.81 99.67
4.83 LAIF
04/30/2022
0.08 0.08
0.08 0.08
0.08 0.08
0.08 0.08
17,711
30 0.17%
15 0.08%
0 0.00%
-15
-0.08%
-29
-0.17%
-44
-0.25%
-59
-0.33%
PLMDLLAIF
0.78 100.17
-1.22
100.08
-0.22
100.00
0.78 99.92
1.79 99.83
2.80 99.75
3.81 99.67
4.83 LAIF
04/30/2022
0.08 0.08
0.08 0.08
0.08 0.08
0.08 0.08
Other
65,275
109
0.17%
54 0.08%
0 0.00%
-54
-0.08%
-109
-0.17%
-163
-0.25%
-217
-0.33%
0.78 100.17
-1.22
100.08
-0.22
100.00
0.78 99.92
1.78 99.83
2.79 99.75
3.81 99.67
4.83 0.08
0.08 0.08
0.08 0.08
0.08 0.08
0.08 Total
236,270
7,772
3.36%
4,065
1.76%
0 0.00%
-4,053
-1.75%
-8,024
-3.47%
-11,882
-5.14%
-15,620
-6.75%
1.18 101.19
-0.43
99.62 1.00
97.90 1.92
96.18 2.88
94.50 3.89
92.87 4.88
91.29 5.88
2 1.16
1.62 1.75
1.82 1.88
1.88 1.88
1.88
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Portfolio Changes
New Securities 12/2021-3/2022
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
3130AQEA7
Treasury/Agency
FHLB 1.05 01/14/25
01/14/2025
1.05 7,000,000
100.00
AFS
Partial Buy12/2021-3/2022
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
Redemption Type
PLMDLCAMP
Other
CAMP
04/30/2022
0.30 248,812
100.00
AFS
Same CUSIP buys
PLMDLLAIF
Other
LAIF
04/30/2022
0.78 65,025,968
100.00
AFS
Same CUSIP buys
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Shocked Assumptions
Scenarios
Down 200
Down 100
Base
Up 100
Up 200
Up 300
Up 400
Shift Amount
-200
-100
0 100
200
300
400
Curve Slope Change
0 0
0 0
0 0
0 Shock Horizon
Immediate
Immediate
Immediate
Immediate
Immediate
Immediate
Immediate
Curve Type
Static
Static
Static
Static
Static
Static
Static
Valuation Date
2022-03-31
2022-03-31
2022-03-31
2022-03-31
2022-03-31
2022-03-31
2022-03-31
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Assumptions
·
Calculation Engine
The Yield Book © and ZM Financial
·
Cash Flow Model
The Yield Book ©
·
Curve Date
Same as Portfolio As Of Date
·
Curve Type Used
Swap Curve
·
Curve Shape
Immediate Sustained Parallel Shocks
·
Price Shock Methodology
Constant OAS for fixed rate securities; immediate market shift for floating rate securities ·
Horizon Period
Immediate Time Horizon
·
Reinvestment Rate
3 Month T-Bill
·
Cost of Funds
1.00%
·
Tax Rate
21.0%
Additional Information
Rolloff Yield
- Rolloff Yield is the weighted average yield of the cashflows (maturities, calls and paydowns) that roll off during the noted time period. Ending Book Yield is the weighted average yield of the remaining securities at the noted time period.
Shocked Scenarios
- All shocked scenarios are instant and parallel and assume a sustained rate cycle from that point on. LIBOR OAS is held constant in order to generate shocked market scenarios and The Yieldbook was used to generate the projected cash flows. In shocked scenarios, 0.01% is considered the floor.
Bonds Likely to be Called
- The page identifies all callable agencies which will either be called or mature in the next 12 months in any of the shocked scenarios. The methodology used to determine the call assumes a small internal margin to account for the "cost to call." Municipals
- For taxable institutions, the above tax rate detailed - along with TEFRA adjustments for BQs - is used to calculate TEY unless otherwise input. Ratings are a blend of Moody's and Standard & Poors.
Duration
- Duration in the shocked detail section is generated by Yield Book.
Original Face
- If original face was not supplied, original face was estimated by dividing current face by current factor.
Yields
-
All yields are Yield to Projected Scenario. (Assumes 100% of The Yield Book prepayment model).
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
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. All rights reserved.
Portfolio ID:
6748
-
58411
As Of Date:
3/31/2022
City of Palmdale
Portfolio Review and Analysis Prepared for:
City of Palmdale - Successor Agency
As of Date: 03/31/2022
Date of Analysis: 04/07/2022
For Distribution to Institutional Clients Only
REFER TO THE LAST PAGE OF THIS REPORT FOR STIFEL FIXED INCOME CAPITAL MARKETS DISCLOSURES Account Executive: Bill Blackwill
Pricing as of: 03/31/2022
Palmdale, CA
Book Value
3,698
# Securities
1 Average Size (Book)
3,698
Book Yield
0.78 Market Yield
0.78 $ Gain/Loss
0 % Gain/Loss
0.0%
Average Life
0.08 Average Life +300bps
0.08 % Price Change +100bps
-0.08
% Price Change +300bps
-0.25
Effective Duration
0.08 Effective Convexity
0.00 AFS / HTM%
100% / 0%
Fixed / Floating
100% / 0%
ESG/Green Par (000's)
$0 / $0
Portfolio Overview
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Historical Portfolio Overview
03/31/2022
12/31/2021
09/30/2021
06/30/2021
Book Value
3,698
3,695
5,192
5,188
Book Yield
0.78 0.78
0.78 0.78
Book Yield (+100)
0.78 0.78
0.78 0.78
Book Yield (+300)
0.78 0.78
0.78 0.78
Book Yield (-100)
0.78 0.78
0.78 0.78
WAL
0.08 0.08
0.08 0.08
WAL (+100)
0.08 0.08
0.08 0.08
WAL (+300)
0.08 0.08
0.08 0.08
WAL (-100)
0.08 0.08
0.08 0.08
% Price Change (+100)
-0.1%
-0.1%
-0.1%
-0.1%
% Price Change (+300)
-0.2%
-0.3%
-0.3%
-0.3%
% Price Change (-100)
0.1%
0.1%
0.1%
0.1%
Effective Duration
0.08 0.09
0.09 0.09
Effective Convexity
0.00 0.00
0.00 0.00
$ Gain/Loss
0 0
0 0
% Gain/Loss
0.0%
0.0%
0.0%
0.0%
Principal Cash Flow 2 yrs out
100%
100%
100%
100%
Principal Cash Flow 2 yrs out (+100)
100%
100%
100%
100%
Principal Cash Flow 2 yrs out (+300)
100%
100%
100%
100%
Principal Cash Flow 2 yrs out (-100)
100%
100%
100%
100%
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Portfolio Sector Summary
Portfolio
Par
Book
Market
% Price Change
Gain/(Loss)
Effective
AFS
Sector
%
Value
Cpn
Maturity
Value
Yield
Value
Yield
-100
+100
+300
$
%
WAL
Dur
Cvx
%
Cash & Other (1)
100.0%
3,698
0.78 0.1 yrs
3,698
0.78 3,698
0.78 0.1
-0.1
-0.2
0 0.0%
0.08 0.08
0.00 100 %
Other (1)
100.0%
3,698
0.78 0.1 yrs
3,698
0.78 3,698
0.78 0.1
-0.1
-0.2
0 0.0%
0.08 0.08
0.00 100 %
Total (1)
100.0%
3,698
0.78 0.1 yrs
3,698
0.78 3,698
0.78 0.1
-0.1
-0.2
0 0.0%
0.08 0.08
0.00 100 %
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Shocked Analysis
-200
-100
Base
+100
+200
+300
+400
Par Value
3,698
3,698
3,698
3,698
3,698
3,698
3,698
Book Value
3,698
3,698
3,698
3,698
3,698
3,698
3,698
Market Value
3,704
3,701
3,698
3,695
3,692
3,689
3,685
Gain/(Loss)
6 3
0 -3
-6
-9
-12
Gain/(Loss) %
0.2%
0.1%
0.0%
-0.1%
-0.2%
-0.3%
-0.3%
Gain/(Loss) % - Chg from Base
0.2%
0.1%
0.0%
-0.1%
-0.2%
-0.3%
-0.3%
Book Price
100.00
100.00
100.00
100.00
100.00
100.00
100.00
Book Yield
0.78 0.78
0.78 0.78
0.78 0.78
0.78 Market Price
100.17
100.08
100.00
99.92 99.83
99.75 99.67
Market Yield
-1.22
-0.22
0.78 1.79
2.80 3.81
4.83 WAL
0.08 0.08
0.08 0.08
0.08 0.08
0.08
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Price Risk & Market Value Change by Sector
AFS
HTM
% Change in Market Value from Level
Eff
% Change in Market Value from Level
Eff
Sector
-100
Mkt Value
+100
+200
+300
Dur
-100
Mkt Value
+100
+200
+300
Dur
Other
0.1%
3,698
-0.1%
-0.2%
-0.3%
0.1%
Total
0.1%
3,698
-0.1%
-0.2%
-0.3%
0.1%
Scenario Market Val
3,701
3,698
3,695
3,692
3,689
Scenario Gain/Loss
3 0
-3
-6
-9
Total Portfolio (AFS + HTM):
% Change in Market Val from Level
-200 bps
0.2%
-100 bps
0.1%
Level Market Val
3,698
+100 bps
-0.1%
+200 bps
-0.2%
+300 bps
-0.2%
+400 bps
-0.3%
Effective Duration
0.08 Effective Convexity
0.00
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Peer Group Comparison
As of
Book
G/L
Book
Average Life
% Price Change
Effective
UST
Fix
Fix
Flt
Agy
Sm
Prv
CD &
%
%
Peer
Date
Value
%
Yield
Base
-100
+300
-100
+100
+300
Dur
Cvx
Agy
MBS
ARM
CMO
CMO
CMBS
Bus.
Label
Muni
Corp
Oth
Fixed
AFS
1 02/22
4,442
-3.9
0.67 3.4
2.1 3.8
3.1 -3.4
-10.1
3.3 -0.2
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
2 12/21
7,541
-0.4
1.31 3.3
3.0 3.5
3.2 -3.3
-9.5
3.3 0.1
17%
0%
0%
0%
0%
0%
0%
0%
0%
3%
79%
100%
100%
3 01/22
7,870
0.1 1.20
5.2 5.1
8.0 5.1
-5.0
-14.7
5.0 0.1
0%
0%
0%
0%
0%
0%
0%
0%
83%
3%
13%
100%
100%
4 02/22
11,000
-3.3
0.81 3.4
1.5 3.8
3.0 -3.4
-10.2
3.3 -0.2
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
5 12/21
11,210
0.6 1.49
0.7 0.7
0.7 0.7
-0.7
-2.0
0.7 0.0
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
6 02/22
13,335
-1.1
1.17 2.2
2.2 2.2
2.2 -2.1
-6.1
2.1 0.1
0%
0%
0%
0%
0%
0%
0%
0%
28%
33%
39%
100%
100%
7 02/22
15,289
-2.4
1.41 3.0
3.0 3.0
3.0 -2.8
-8.2
2.9 0.1
0%
0%
0%
0%
0%
0%
0%
0%
44%
30%
26%
100%
100%
8 02/22
24,842
-0.4
0.98 1.2
0.7 1.3
1.1 -1.3
-3.9
1.3 -0.1
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
9 02/22
27,113
-2.5
1.02 2.7
1.5 3.6
2.5 -3.0
-9.3
2.9 -0.5
99%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
100%
100%
10 12/21
28,538
-1.2
-0.10
1.2 1.1
1.5 1.2
-1.4
-4.3
1.3 -0.3
18%
0%
0%
0%
0%
0%
0%
0%
57%
1%
25%
99%
100%
11 02/22
36,078
-3.2
1.00 3.3
1.9 4.0
2.9 -3.4
-10.4
3.2 -0.5
99%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
100%
100%
12 12/21
39,276
0.1 1.15
2.2 0.9
3.7 1.6
-2.9
-9.2
2.6 -1.3
62%
0%
0%
0%
0%
0%
0%
0%
1%
0%
37%
99%
100%
13 12/21
44,000
1.2 1.88
2.2 2.1
2.5 2.2
-2.3
-6.7
2.2 -0.1
54%
0%
0%
0%
0%
0%
0%
0%
44%
0%
2%
99%
100%
14 12/21
44,873
-1.1
0.82 2.4
1.1 4.0
2.1 -3.0
-9.6
2.8 -0.5
73%
1%
0%
1%
0%
0%
0%
0%
0%
11%
13%
95%
100%
15 02/22
49,923
-0.2
0.93 1.0
0.7 1.1
1.0 -1.1
-3.3
1.1 -0.1
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
16 01/22
84,587
-0.7
2.68 2.6
2.2 2.7
2.6 -2.6
-7.5
2.6 0.1
61%
0%
0%
0%
0%
0%
0%
0%
0%
2%
37%
100%
100%
17 12/21
107,680
-1.1
0.71 2.2
1.5 2.8
2.1 -2.5
-7.6
2.5 -0.1
37%
0%
0%
0%
0%
0%
0%
0%
0%
29%
34%
100%
100%
18 12/21
123,743
-0.9
0.77 2.2
1.3 3.0
1.8 -2.6
-7.9
2.5 -0.4
57%
0%
0%
0%
0%
0%
0%
0%
15%
18%
11%
99%
100%
19 02/22
130,973
-1.6
0.48 1.6
1.2 1.8
1.5 -1.6
-4.8
1.6 -0.1
28%
0%
0%
0%
0%
0%
0%
0%
35%
1%
36%
100%
34%
20 02/22
136,932
-2.3
1.05 2.5
1.2 3.2
2.4 -2.8
-8.4
2.7 -0.4
99%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
100%
100%
21 01/22
157,643
-0.5
1.27 1.6
1.1 1.8
1.5 -1.6
-4.9
1.6 0.0
87%
0%
0%
0%
0%
0%
0%
0%
6%
0%
7%
100%
100%
22 12/21
186,188
0.4 1.57
2.7 2.6
2.7 2.6
-2.6
-7.4
2.6 0.1
68%
0%
0%
0%
0%
0%
0%
0%
10%
11%
10%
100%
100%
23 03/22
251,581
-3.0
1.80 2.0
2.0 2.0
2.0 -2.0
-5.7
2.0 0.1
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
24 03/22
274,827
-2.0
0.31 1.3
1.1 1.4
1.3 -1.3
-3.9
1.3 0.0
27%
0%
0%
0%
0%
0%
0%
0%
25%
0%
48%
100%
100%
25 03/22
555,473
-4.0
0.69 2.5
2.3 2.6
2.4 -2.4
-6.9
2.4 0.0
62%
0%
0%
0%
0%
0%
0%
0%
38%
0%
0%
100%
100%
Avg
94,998
-1.3
1.08 2.3
1.8 2.8
2.2 -2.4
-7.3
2.4 -0.2
62%
0%
0%
0%
0%
0%
0%
0%
15%
6%
17%
100%
97%
Port
3,698
0.0 0.78
0.1 0.1
0.1 0.1
-0.1
-0.2
0.1 0.0
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
100%
Diff
-91,301
1.3 -0.30
-2.3
-1.7
-2.8
-2.1
2.4 7.0
-2.3
0.2 -62%
0%
0%
0%
0%
0%
0%
0%
-15%
-6%
83%
0%
3%
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Yield and Average Life Peer Comparison
Price Risk Peer Comparison
Each box contains the range of your peer group, the top and bottom of the boxes being the max and min. The red box is the avg. of your peers within the range and the gray dot represents your position.
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Cash Flow and Yield Rolloff - Next 12 Months
Yield Rolloff
Month
Begin BY
Principal CF
Rolloff Yld
Ending BY
Apr 2022
0.78 3,698
0.78 May 2022
0 0.00
Jun 2022
0 0.00
Jul 2022
0 0.00
Aug 2022
0 0.00
Sep 2022
0 0.00
Oct 2022
0 0.00
Nov 2022
0 0.00
Dec 2022
0 0.00
Jan 2023
0 0.00
Feb 2023
0 0.00
Mar 2023
0 0.00
Shocked Principal and Interest Cash Flow Analysis
Year
-200
-100
Base
+100
+200
+300
+400
Apr 2022
3,703
3,703
3,703
3,703
3,703
3,703
3,703
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Cash Flow and Yield Rolloff - Next 10 Years
Yield Rolloff
Year
Begin BY
Principal CF
Rolloff Yld
Ending BY
2022
0.78 3,698
0.78 2023
2024
2025
2026
2027
2028
2029
2030
2031
Shocked Principal and Interest Cash Flow Analysis
Year
-200
-100
Base
+100
+200
+300
+400
2022
3,703
3,703
3,703
3,703
3,703
3,703
3,703
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Sector Cash Flow and Yield Rolloff - Next 12 Months
Apr 22
May 22
Jun 22
Jul 22
Aug 22
Sep 22
Oct 22
Nov 22
Dec 22
Jan 23
Feb 23
Mar 23
Bk Yld Chg
Other
Cash Flow
3,703
0 0
0 0
0 0
0 0
0 0
0 End BY
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 Total
Cash Flow
3,703
0 0
0 0
0 0
0 0
0 0
0 End BY
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Sector Cash Flow and Yield Rolloff - Next 3 Years
2Q22
3Q22
4Q22
1Q23
2Q23
3Q23
4Q23
1Q24
2Q24
3Q24
4Q24
1Q25
Bk Yld Chg
Other
Cash Flow
3,703
0 0
0 0
0 0
0 0
0 0
0 End BY
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 Total
Cash Flow
3,703
0 0
0 0
0 0
0 0
0 0
0 End BY
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Gap Analysis - Potential Income Impact of Principal Reinvestment Assumed
Estimated
Income
Resulting
Reinvestment
Annualized
Difference from
Book
Yield
Income
Current Book
Yield
0.25 9
-20
0.25 0.50
18 -10
0.50 0.75
28 -1
0.75 1.00
37 8
1.00 1.25
46 17
1.25 1.50
55 27
1.50 1.75
65 36
1.75 2.00
74 45
2.00 2.25
83 54
2.25 2.50
92 64
2.50 2.75
102
73 2.75
3.00 111
82 3.00
3.25 120
91 3.25
3.50 129
101
3.50 3.75
139
110
3.75 4.00
148
119
4.00 4.25
157
128
4.25 4.50
166
138
4.50 4.75
176
147
4.75 5.00
185
156
5.00 5.25
194
165
5.25 5.50
203
175
5.50 5.75
213
184
5.75 6.00
222
193
6.00 6.25
231
202
6.25 6.50
240
211
6.50 6.75
250
221
6.75 7.00
259
230
7.00 7.25
268
239
7.25 7.50
277
248
7.50 7.75
287
258
7.75 8.00
296
267
8.00 Principal Maturing(12 Mo.Horizon): $3,698
Current Book Yield of Principal Maturing: 0.78%
Est. Annual Income at Current Book Yield: $29
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Shocked Cash Flows By Sector - Next 10 Years
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Cash Flows By Sector - Next 30 Years
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Cash Flow Projection By Month - Next 5 Years
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Other - Summary
Book
Market
G/L $
G/L %
WAL
Px Chg
Dur
Cvx
Sector
Par
Maturity
Price
Price
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Next Call
Value
Yield
Value
Yield
+ 300
+ 300
+ 300
+300
AFS %
0.1 yrs
100.00
100.00
0 0.0%
0.08 0.1
0.08 0.00
Cash & Other (1)
100.0%
3,698
0.78 3,698
0.78 3,698
0.78 -9
-0.2%
0.08 -0.2
100.0%
0.1 yrs
100.00
100.00
0 0.0%
0.08 0.1
0.08 0.00
Total (1)
100.0%
3,698
0.78 3,698
0.78 3,698
0.78 -9
-0.2%
0.08 -0.2
100.0%
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Portfolio Considerations
Par
Book
Market
Gain/
Book
Eff.
Historical CPR
Proj. CPR
Loan
Sector
Cnt
Cpn
Maturity
Value
Price
Price
(Loss)
Yield
WAL
Dur
1 Mo.
3 Mo.
Life
Life
Count
Book Yield < 1.5%
1 0.78
0.1 yrs
3,698
100.00
100.00
0 0.78
0.1 0.08
Cash & Other
1 0.78
0.1 yrs
3,698
100.00
100.00
0 0.78
0.1 0.08
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Key Portfolio Sorts
Top 10 Up 300 Market Value Changes (%)
Par
Book
Market
Book
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
Yield
WAL
+300
+300
+300
Dur
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 04/30/22
3,698
100.00
100.00
0 0.781
0.08 -0.25
-9
-9
0.08 AFS
0.78 3,698
100.00
100.00
0 0.781
0.08 -0.25
-9
-9
0.08 Top 10 Up 300 Market Value Changes ($)
Par
Book
Market
Book
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
Yield
WAL
+300
+300
+300
Dur
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 04/30/22
3,698
100.00
100.00
0 0.781
0.08 -0.25
-9
-9
0.08 AFS
0.78 3,698
100.00
100.00
0 0.781
0.08 -0.25
-9
-9
0.08
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Key Portfolio Sorts
Top 10 Marked to Market Up 300 Loss Positions
Par
Book
Market
Book
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
Yield
WAL
+300
+300
+300
Dur
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 04/30/22
3,698
100.00
100.00
0 0.781
0.08 -0.25
-9
-9
0.08 AFS
0.78 3,698
100.00
100.00
0 0.781
0.08 -0.25
-9
-9
0.08 Top 10 Average Life Extension Up 300bps
Par
Book
Market
Book
% Px
Δ
Eff.
WAL
Chg in
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
Yield
+300
Dur
WAL
+300
WAL
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 04/30/22
3,698
100.00
100.00
0 0.781
-0.25
0.08 0.08
0.08 0.00
AFS
0.78 3,698
100.00
100.00
0 0.781
-0.25
0.08 0.08
0.08 0.00
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Other - CUSIP Detail
Coupon
Step
Maturity
Book
Market
Gain/(Loss)
% Px
Δ
Effective
Par
Type
Date
Proj.
Price
Price
%
-100
Dur
ESG/G
r
CUSIP
Ticker
Value
Rate
Rate
Final
Value
Yield
Value
Yield
$
+300
Cvx
Intent
Fixed
04/22
100.00
100.00
0.0%
0.1 0.08
PLMDLLAIF
3,698
0.780
04/30/22
3,698
0.78 3,698
0.78 0
-0.2
0.00 AFS
100.00
100.00
0.0%
0.1 0.08
Cash & Other
3,698
0.780
3,698
0.78 3,698
0.78 0
-0.2
0.00 100.00
100.00
0.0%
0.1 0.08
Total
3,698
0.780
3,698
0.78 3,698
0.78 0
-0.2
0.00
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Shocked CUSIP Analysis
-200
-100
Base
+100
+200
+300
+400
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
Dur
WAL
WAL
WAL
WAL
WAL
3,698
6 0.17%
3 0.08%
0 0.00%
-3
-0.08%
-6
-0.17%
-9
-0.25%
-12
-0.33%
PLMDLLAIF
0.78 100.17
-1.22
100.08
-0.22
100.00
0.78 99.92
1.79 99.83
2.80 99.75
3.81 99.67
4.83 LAIF
04/30/2022
0.08 0.08
0.08 0.08
0.08 0.08
0.08 0.08
Other
3,698
6 0.17%
3 0.08%
0 0.00%
-3
-0.08%
-6
-0.17%
-9
-0.25%
-12
-0.33%
0.78 100.17
-1.22
100.08
-0.22
100.00
0.78 99.92
1.79 99.83
2.80 99.75
3.81 99.67
4.83 0.08
0.08 0.08
0.08 0.08
0.08 0.08
0.08 Total
3,698
6 0.17%
3 0.08%
0 0.00%
-3
-0.08%
-6
-0.17%
-9
-0.25%
-12
-0.33%
0.78 100.17
-1.22
100.08
-0.22
100.00
0.78 99.92
1.79 99.83
2.80 99.75
3.81 99.67
4.83 0
0.08 0.08
0.08 0.08
0.08 0.08
0.08 0.08
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Portfolio Changes
Partial Buy12/2021-3/2022
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
Redemption Type
PLMDLLAIF
Other
LAIF
04/30/2022
0.78 3,697,774
100.00
AFS
Same CUSIP buys
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Shocked Assumptions
Scenarios
Down 200
Down 100
Base
Up 100
Up 200
Up 300
Up 400
Shift Amount
-200
-100
0 100
200
300
400
Curve Slope Change
0 0
0 0
0 0
0 Shock Horizon
Immediate
Immediate
Immediate
Immediate
Immediate
Immediate
Immediate
Curve Type
Static
Static
Static
Static
Static
Static
Static
Valuation Date
2022-03-31
2022-03-31
2022-03-31
2022-03-31
2022-03-31
2022-03-31
2022-03-31
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
Assumptions
·
Calculation Engine
The Yield Book © and ZM Financial
·
Cash Flow Model
The Yield Book ©
·
Curve Date
Same as Portfolio As Of Date
·
Curve Type Used
Swap Curve
·
Curve Shape
Immediate Sustained Parallel Shocks
·
Price Shock Methodology
Constant OAS for fixed rate securities; immediate market shift for floating rate securities ·
Horizon Period
Immediate Time Horizon
·
Reinvestment Rate
3 Month T-Bill
·
Cost of Funds
1.00%
·
Tax Rate
21.0%
Additional Information
Rolloff Yield
- Rolloff Yield is the weighted average yield of the cashflows (maturities, calls and paydowns) that roll off during the noted time period. Ending Book Yield is the weighted average yield of the remaining securities at the noted time period.
Shocked Scenarios
- All shocked scenarios are instant and parallel and assume a sustained rate cycle from that point on. LIBOR OAS is held constant in order to generate shocked market scenarios and The Yieldbook was used to generate the projected cash flows. In shocked scenarios, 0.01% is considered the floor.
Bonds Likely to be Called
- The page identifies all callable agencies which will either be called or mature in the next 12 months in any of the shocked scenarios. The methodology used to determine the call assumes a small internal margin to account for the "cost to call." Municipals
- For taxable institutions, the above tax rate detailed - along with TEFRA adjustments for BQs - is used to calculate TEY unless otherwise input. Ratings are a blend of Moody's and Standard & Poors.
Duration
- Duration in the shocked detail section is generated by Yield Book.
Original Face
- If original face was not supplied, original face was estimated by dividing current face by current factor.
Yields
-
All yields are Yield to Projected Scenario. (Assumes 100% of The Yield Book prepayment model).
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
The information contained herein has been prepared from sources believed reliable but is not guaranteed by Stifel and is not a complete summary or statement of all available data, nor is it to be construed as an offer to buy or sell any securities referred to herein. Opinions expressed are subject to change without notice and do not take into account the particular investment objectives, financial situation, or needs of investors. Employees of Stifel or its affiliates may, at times, release written or oral commentary, technical analysis, or trading strategies that differ from the opinions expressed within. No investments or services mentioned are available to "private customers" in the European Economic Area or to anyone in Canada other than a "Designated Institution." Stifel and/or its employees involved in the preparation or the issuance of this communication may have positions in the securities or options of the issuer/s discussed or recommended herein.
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2022
Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE, One South Street, Baltimore, MD 21202
. All rights reserved.
Portfolio ID:
6753
-
58411
As Of Date:
3/31/2022
City of Palmdale - Successor Agency
City Council Staff Report
DATE: May 4, 2022
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: CITY MANAGER’S OFFICE – FINANCE DIVISION
DISTRICT: ALL
SUBJECT: RECEIVE AND FILE THE ANNUAL REPORT ON DEVELOPMENT IMPACT FEES FOR FISCAL YEAR ENDED JUNE 30, 202 1 AND
ADOPT FINDINGS TO COMMIT FUNDS HELD IN THE LITTLEROCK
DRAINAGE FEE FUND, FIRE FACILITIES FUND, AND THE SEWER
UPGRADE FUND.
ISSUE
Receive and file the Annual Report on Development Impact Fees for Fiscal Year Ended June 30, 2021 and adopt findings to commit funds held in the Littlerock Drainage Fee Fund, Fire Facilities Fee Fund, and the Sewer Upgrade Fee Fund.
RECOMMENDATION
Staff recommends that the City Council accept the Annual Report on Development Impact Fees for Fiscal Year Ended June 30, 202 1 and adopt findings to commit funds held in the Pearland Drainage Fee Fund, Littlerock Drainage Fee Fund, Fire Facilities Fee Fund, and the Sewer Upgrade Fee Fund. Drainage Funds held and totaling $55,380 in the Littlerock Drainage Fee Fund are to be held for projects noted in the City of Palmdale Master Plan of Drainage dated August 1996. Funds held and totaling $2,980,684 in the Fire Facilities Fee Fund will be held for the benefit of the Consolidated Fire Protection District of the Los Angeles County District to benefit area three within the City of Palmdale for future fire station projects. Funds held and totaling $457,440 in the Sewer Upgrade Fee Fund will be held for proje cts noted in the Ten-Year Capital Improvement Plan.
BACKGROUND
The City of Palmdale is authorized under state law to require development applicants to contribute fees towards the cost of off-site public improvements which are needed as a result of the new development. The fees are charged based upon a pro -rata share of the cost of the new improvements. This report provides information related to the status of these funds for the year ended June 30, 2021.
Report to Mayor and City Council
Re: Development Impact Fee Report for Year Ended June 30, 2021 May 4, 2022
State law requires the City to provide a public notice that specifies that this report is available for inspection not less than 15 days before the public meeting. The public notice was issued and the report was available for inspection on April 18, 2022.
Government Code Section 66001 (AB1600) requires the City to review on an annual basis the status of collected development impact and mitigation fees. In the event that any fees remain unexpended and unencumbered for more than five years, the City may retain the fees if the City Council adopts certain findings which substantiate the need for retaining such funds. In the event that the findings are not adopted to support the retention of the funds, the unexpended fees must be returned to the current owner(s) of the subject property.
DISCUSSION
The attached schedule provides a breakdown of accounts for the year ending June 30, 2021. All the accounts presently maintain positive cash positions and were allocated interest earnings on a pro-rata basis as prescribed by state law. The statute also specifies that the report include the following:
•The amount of each development fee.
•The beginning and ending fund balance for each development fee account. •The amount of funds expended on each project for the year just ended. •The amount of developer fees collected and interest earned for the year just ended. •A description of each interfund transfer or loan made from each development fee account.
•If applicable, the amount of refunds made pursuant to the Government Code Section 66001.
As of June 30, 2021, the Littlerock Drainage Fee Fund, Fire Facilities Fund, and the Sewer Upgrade Fee Fund hold funds that are five years old. Based on this report, $55,380 of the $61,373 balance in the Littlerock Drainage Fee Fund, $2,980,684 of the $7,500,136 in the Fire Facilities Fee Fund, and $457,440 of the $522,114 balance in the Sewer Upgrade Fee Fund have been held for longer than five years. At this time, the City Council can make a finding that these uncommitted funds have a specified purpose and that there is a reasonable relationship between the fee and the purpose for which it was charged. Unless this finding is made, the collected fees will need to be refunded to the current record owner or owners of lots or units of the development project.
The funds being accumulated in the Littlerock Drainage Fund are to be used for several large first priority drainage projects. The funds being accumulated in the Fire Facilities Fee Fund are to be used for fire facility projects. The funds being Report to Mayor and City Council
Re: Development Impact Fee Report for Year Ended June 30, 2021 May 4, 2022
accumulated in the Sewer Upgrade Fund are to be used for sewer upgrade projects.
Presently, there are not funds available to commence any of the projects.
FISCAL IMPACT
There is no fiscal impact associated with the recommended actions for this report.
STRATEGIC PLAN
Goal II: Ensure long-term fiscal health of the City and maintain funding for services.
B. Manage resources, costs and liabilities to ensure the City’s long-term fiscal health.
Prepared by: Gohar Avetisyan, Financial Analyst
Certified as to availability of Funds: Janelle Samson, Director of Finance Approved by: Ronda Perez, Interim City Manager
Approved as to form: Christopher Beck, City Attorney
ATTACHMENTS
1. Annual Report on Development Impact Fees for Year Ended June 30, 2021 What inspires you, inspires us. | eidebailly.com
10681 Foothill Blvd., Ste. 300 | Rancho Cucamonga, CA 91730-3831 | T 909.466.4410 | F 909.466.4431 | EOE C
ity of Palmdale
Annual Report
On
Development Impact Fees
For
Fiscal Year Ended
June 30, 2021
Prepared by
Eide Bailly, LLP
Rancho Cucamonga, California
March 23, 2021
What inspires you, inspires us. | eidebailly.com
10681 Foothill Blvd., Ste. 300 | Rancho Cucamonga, CA 91730-3831 | T 909.466.4410 | F 909.466.4431 | EOE
March 23, 2021
Keith Kang, Finance Manager
City of Palmdale
38300 N. Sierra Highway
Palmdale, CA 93550
Re: Acceptance of Annual Report on Development Impact Fees and Adopt Findings to Commit Funds Held in the Littlerock Drainage Fee Fund, Fire Facilities Fee Fund and the Sewer Upgrade Fee Fund
Dear Mr. Kang:
The firm of Eide Bailly, LLP, recently completed an analysis of the City’s accounting records for completing the City’s annual report on development impact fees. This correspondence and accompanying schedules comprises the annual report and should be made available for public inspection.
The City of Palmdale is authorized under state law to require development applicants to contribute fees towards the cost of off-site public improvements which are needed as a result of the new development. The fees are charged based upon a pro-rata share of the cost of the new improvements. This report provides information related to the status of these funds for the year ended June 30, 2021. State law requires the City to provide a public notice that specifies that this report is available for inspection.
Government Code Section 66001 (AB1600) requires the City to review on an annual basis the status of collected development impact and mitigation fees. In the event that any fees remain unexpended and unencumbered for more than five years, the City may retain the fees if the City Council adopts certain findings which substantiate the need for retaining such funds. In the event that the findings are not adopted to support the retention of the funds, the unexpended fees must be returned to the current owner(s) of the subject property.
The attached schedule provides a breakdown of accounts for the year ending June 30, 2021. All the accounts maintaining positive cash positions were allocated interest earnings on a pro-rata basis as prescribed by state law. The statues also specify that the report include the following:
• The amount of each development fee
• The beginning and ending fund balance for each development fee account • The amount of funds expended on each project for the year just ended • The amount of developer fees collected and interest earned for the year just ended • A description of each interfund transfer or loan made from each development fee account • If applicable, the amount of refunds made pursuant to the Government Code Section 66001
As of June 30, 2021, the following accounts holds funds that are over five years old:
Littlerock Drainage Fee Fund
$ 55,380
Fire Facilities Fee Fund 2,980,684
Sewer Upgrade Fee Fund 457,440
At this time, the City Council can make a finding that these uncomm itted funds have a specified purpose and that there is a reasonable relationship between the fee and the purpose for which it was charged. Unless this finding is made, the collected fees will need to be refunded to the current record owner or owners of lots or units of the development project.
The funds being accumulated in the Littlerock Drainage Fee Fund are to be used for large drainage projects. Funds being accumulated in the Fire Facilities Fee F und are being accumulated for fire facility projects and the funds being accumulated in the Sewer Upgrade Fee Fund are to be used for large sewer upgrade projects. Presently, there are not funds available to commence the projects.
City staff recommends that the City Council specify that the uncomm itted funds in the Littlerock Drainage Fee Fund are to be used for the projects noted in the Cit y of Palmdale Master Plan of Drainage dated August 1996. That the uncommitted funds in the Fire Facil ities Fee Fund will be held for the benefit of the Consolidated Fire Protection Distri ct of Los Angeles County District Area 3 for future fire station projects. And the uncommitted funds held in the Sewer Upgrade Fee Fund will be held for projects noted in the Ten-Year Capital Improvement Plan.
Action To Be Taken By City Council
1. At the recommendation of City Management accept the Annual Report on Development Impact Fees held longer than five years and adopt the following findings.
2. That the Drainage funds held and totaling $55,380 in the Littlerock D rainage Fee Fund are to be held for projects noted in the City of Palmdale Master Plan of Drainage dated August 1996.
That the funds held totaling $2,980,684 in the Fire Facilities Fee Fund will be held for the benefit of the Consolidated Fire Protection District of the Los Angeles County District Area 3 for future fire station projects. And that the funds totaling $457,440 in the Sewer Upgrade Fee Fund will be held for projects noted in the Ten-Year Capital Improvement Plan.
Our firm appreciates the assistance and cooperation your City staff extended to us during our work.
If you or any City officials have questions regardi ng this report, I can be contacted at (909) 466- 4410.
Sincerely yours,
Roger Alfaro, CPA
Of Eide Bailly LLP
Attachments
C
ity of Palmdale
Summary of Local Agency Improvement Fees
(AB1600 Development Impact Fees)
Report for Fiscal Year Ended June 30, 2021
N
on Total Non Developer
Project AB 1600 AB1600 AB1600 Fees Interest Other Beginning Ending Amount Revenue Expenditures Expenditures Collected Income Income Transfers Transfers Balance Balance Project Expended 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 In Out 7/1/2020 6/30/2021 Traffic Impact Fee (Fund 209/221)
Street Signal Debt Service 864,848$ 864,848$
Ave R 45th St E Traffic Signal 18,452 18,452
Totals 883,300$ - $ 883,300$ -$ 806,342$ 3,544$ - $ - $ - $ 2,868,142$ 2,794,728$ Unaudited
City of Palmdale
Summary of Local Agency Improvement Fees
(AB1600 Development Impact Fees)
Report for Fiscal Year Ended June 30, 2021
Non Interest Total Non Developer
Project AB 1600 Expense AB1600 AB1600 Fees Interest Other Beginning Ending Amount Revenue General Fund Expenditures Expenditures Collected Income Income Transfers Transfers Balance Balance Project Expended 2020-2021 Advance 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 In Out 7/1/2020 6/30/2021 Parks Development Fee (Fund 208/220)
Playhouse HVAC Upgrade 176,054$ 176,054$
Marie Kerr Park Development 159 159
Courson Connection Infrastructure 15,670 15,670
Sam Yellen Park 159,362 159,362
Massari Renovations 103,030 103,030
Mcadam Park Restroom Upgrade 17,396 17,396
Rancho Vista Park 1,372,505 1,372,505
Arnie Quinones Park 840 840
Oasis Park Improvements 14,680 14,680
Mk Park TOT Lot ADA (1,398) (1,398)
Totals 1,858,298$ - $ -$ 1,858,298 $ -$ 2,089,872 $ 6,701$ - $ 5,000,000$ -$ 2,600,555$ 7,838,830$ Unaudited
C
ity of Palmdale
Summary of Local Agency Improvement Fees
(AB1600 Development Impact Fees)
Report for Fiscal Year Ended June 30, 2021
N
on Total Non Developer
Project AB 1600 AB1600 AB1600 Fees Interest Other Beginning Ending Amount Revenue Expenditures Expenditures Collected Income Income Transfers Transfers Balance Balance Project Expended 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 In Out 7/1/2020 6/30/2021 Amargosa Drainage Fee (Fund 212/222)
Drainage Admin 45,956$ 45,956$
Amargosa Creek Upper Rechg 10,249 10,249
Totals 56,205$ - $ 56,205$ -$ 454,401$ - $ - $ - $ - $ (19,162)$ 379,034$ Unaudited
City of Palmdale
Summary of Local Agency Improvement Fees
(AB1600 Development Impact Fees)
Report for Fiscal Year Ended June 30, 2021
Non Interest Total Non Developer
Project AB 1600 Expense AB1600 AB1600 Fees Interest Other Beginning Ending Amount Revenue Interfund Expenditures Expenditures Collected Income Income Transfers Transfers Balance Balance Project Expended 2020-2021 Drainage 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 In Out 7/1/2020 6/30/2021 Anaverde Drainage Fee (Fund 213/223)
Drainage Admin 6,000$ 6,000$
Amargosa Crk Upper Rechg Proj 1,685 1,685
7,685$ - $ 30,360$ 7,685$ -$ 470,882 $ 1,978$ - $ 4,500,000$ -$ (8,720,721) $ (3,785,906)$ Note: Ending balance includes the following:
Loan payable due to Pearland Drainage Fund of $2,136,221.
Unaudited
City of Palmdale
Summary of Local Agency Improvement Fees
(AB1600 Development Impact Fees)
Report for Fiscal Year Ended June 30, 2021
Non Interest Total Non Developer
Project AB 1600 Expense AB1600 AB1600 Fees Interest Other Beginning Ending Amount Revenue Interfund Expenditures Expenditures Collected Income Income Transfers Transfers Balance Balance Project Expended 2020-2021 Drainage 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 In Out 7/1/2020 6/30/2021 Portal Ridge Drainage Fee (Fund 214/224)
Drainage Admin 6,000$ 6,000$
6,000$ - $ -$ 6,000$ -$ 41,499 $ - $ - $ - $ -$ (44,737)$ (9,238)$ Unaudited
City of Palmdale
Summary of Local Agency Improvement Fees
(AB1600 Development Impact Fees)
Report for Fiscal Year Ended June 30, 2021
Non Total Non Developer
Project AB 1600 AB1600 AB1600 Fees Interest Other Beginning Ending Amount Revenue Expenditures Expenditures Collected Income Income Transfers Transfers Balance Balance Project Expended 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 In Out 7/1/2020 6/30/2021 Pearland Drainage Fee (Fund 215/225)
Drainage Admin 6,000$ 6,000$
Amargosa Creek Upper Rechg 29,916 29,916
35,916$ - $ 35,916$ -$ 380,490$ 36,946$ - $ - $ - $ 9,907,992$ 10,289,512$ Note: Ending balance includes loan receivable due from Anaverde Drainage Fund of $2,136,221 and $4,400,000 from the Sewer Maintenance Fund.
Note: There is no finding in the Pearland Fund, since the loan reduced the cash balance of the fund.
Unaudited
City of Palmdale
Summary of Local Agency Improvement Fees
(AB1600 Development Impact Fees)
Report for Fiscal Year Ended June 30, 2021
Non Total Non Developer
Project AB 1600 AB1600 AB1600 Fees Interest Other Beginning Ending Amount Revenue Expenditures Expenditures Collected Income Income Transfers Transfers Balance Balance Project Expended 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 In Out 7/1/2020 6/30/2021 Littlerock Drainage Fee (Fund 216/226)
Drainage Admin 6,000$ 6,000$
6,000$ - $ 6,000$ -$ -$ 120$ - $ - $ - $ 67,253$ 61,373$ Unaudited
City of Palmdale
Summary of Local Agency Improvement Fees
(AB1600 Development Impact Fees)
Report for Fiscal Year Ended June 30, 2021
Non Total Non Developer
Project AB 1600 AB1600 AB1600 Fees Interest Other Beginning Ending Amount Revenue Expenditures Expenditures Collected Income Income Transfers Transfers Balance Balance Project Expended 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 In Out 7/1/2020 6/30/2021 Fire Facilities Impact Fee (Fund 217/227)
City Admin Charges 44,598$ 44,598$
44,598$ - $ 44,598$ -$ 892,001$ 12,388$ - $ - $ - $ 6,640,345$ 7,500,136$ Unaudited
City of Palmdale
Summary of Local Agency Improvement Fees
(AB1600 Development Impact Fees)
Report for Fiscal Year Ended June 30, 2021
Non Total Non Developer
Project AB 1600 AB1600 AB1600 Fees Interest Other Beginning Ending Amount Revenue Expenditures Expenditures Collected Income Income Transfers Transfers Balance Balance Project Expended 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 In Out 7/1/2020 6/30/2021 Sewer Upgrade Impact Fee (Fund 225/228)
Sewer Upgrd-45th E/Ave R to S 247,062$ 247,062$
247,062$ - $ 247,062$ -$ -$ 1,098$ - $ - $ - $ 768,078$ 522,114$ Unaudited
City of Palmdale
Summary of Local Agency Improvement Fees
(AB1600 Development Impact Fees)
Report for Fiscal Year Ended June 30, 2021
Non Total Non Developer
Project AB 1600 AB1600 AB1600 Fees Interest Other Beginning Ending Amount Revenue Expenditures Expenditures Collected Income Income Transfers Transfers Balance Balance Project Expended 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 In Out 7/1/2020 6/30/2021 Public Facilities Impact Fee (Fund 247/229)
City Facilities 10,635$ 10,635$
Cultural Center Lighting Impr 93,215 93,215
103,850$ - $ 103,850$ -$ 488,205$ 1,469$ - $ - $ - $ 594,744$ 980,568$ Unaudited
City of Palmdale
Summary of Local Agency Improvement Fees
(AB1600 Development Impact Fees)
Report for Fiscal Year Ended June 30, 2021
Non Total Non Developer
Project AB 1600 AB1600 AB1600 Fees Interest Other Beginning Ending Amount Revenue Expenditures Expenditures Collected Income Income Transfers Transfers Balance Balance Project Expended 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 2020-2021 In Out 7/1/2020 6/30/2021 Big Rock Drainage Impact Fee (Fund 230)
Drainage Admin 6,000$ 6,000$
Amargosa Creek Upper Rechg Proj 44,371 44,371
50,371$ - $ 50,371$ -$ -$ 118$ - $ - $ - $ 68,516$ 18,263$ Unaudited
City Council Staff Report
DATE: May 4, 2022
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: CITY MANAGER’S OFFICE – FINANCE DIVISION
DISTRICT: All
SUBJECT: APPROVE AGREEMENT A-7933, THE POWER CHARGE
INDIFFERENCE ADJUSTMENT (PCIA) VOLUNTARY ALLOCATION
OF LONG -TERM RENEWABLE ENERGY PORTFOLIO FROM
SOUTHERN CALIFORNIA EDISON (SCE), AND AUTHORIZE THE
INTERIM CITY MANAGER TO EXECUTE THE VOLUNTARY
ALLOCATION AGREEME NT ON BEHALF OF ENERGY FOR
PALMDALE’S INDEPENDENT CHOICE (EPIC).
ISSUE
Approve agreement A -7933, the Power Charge Indifference Adjustment (PCIA) Voluntary Allocation of Long-Term Renewable Energy Portfolio from Southern California Edison (SCE) , and Authorize the Interim City Manager to Execute the Voluntary Allocation Agreement on behalf of Energy for Palmdale’s Independent Choice (EPIC).
RECOMMENDATION
Staff recommends that the City Council:
1. Approve the Power Charge Indifference Adjustment (PCIA) Voluntary Allocation of Long-Term Renewable Energy Portfolio from Southern California Edison (SCE); and
2. Authorize the Interim City Manager to Execute the Voluntary Allocation Agreement on behalf of Energy for Palmdale’s Independent Choice (EPIC).
BACKGROUND
Approval of this agreement will lower the PCIA fee for rate payers. The PCIA is an exit fee charged by SCE to customers that choose another provider of electricity generation service through direct access or Community Choice Aggregators (CCA). The fee is designed to cover the difference in the market value of energy resources that were already contracted on a customer’s behalf by SCE and the cost of those resources. In the past, CCA customers paid these above-market costs through the PCIA, CCAs were not able to count the PCIA resources in their portfolios.
In 2021, the California Public Utilities Commission (CPUC) ordered the Investor Owned Utilities (IOUs) to offer CCAs voluntary allocations of PCIA eligible renewable resources and to sell any unallocated resources through an annual market offer process.
Report to Mayor and City Council
Re
Approve agreement A-7933, the Power Charge Indifference Adjustment (PCIA) Voluntary Allocation of Long-Term Renewable Energy Portfolio from Southern California Edison (SCE), and Authorize the Interim City Manager to Execute the Voluntary Allocation Agreement on behalf of Energy for Palmdale’s Independent Choice (EPIC).
May 4, 2022
EPIC now has the opportunity to accept voluntary allocations of PCIA-eligible renewable resources from SCE at the Market Price Benchmark, which is established by the current market price in any given year and is the same price used to set the renewable energy portion of the PCIA. The ability to accept these allocations promotes cost stability and supports reaching EPIC’s long-term resources compliance requirements.
In order to secure the voluntary allocations, EPIC must participate in SCE’s enrollment process, which closes May 13, 2022, and then enter into a voluntary allocation agreement. A portion of the PCIA-eligible renewable energy resources includes long- term contracts of ten (10) years or greater. EPIC’s allocation is based on its most recent load forecast. SCE provided EPIC with a list of contracts and an indicative forecast of each resource’s generation output that would be available to EPIC.
DISCUSSION
The long-term resources are comprised primarily of wind and solar and will help satisfy a portion of EPIC’s long-term renewable contracting requirement as mandated by Senate Bill 350. (SB 350). SB 350 requires that all load-serving entities, including CCAs, enter into renewable energy contracts with energy delivery to begin by the 2021 – 2024 compliance period. EPIC will begin serving electricity to customers in October 2022 and is required to meet the requirements of SB 350.
FISCAL IMPACT
$863,684 beginning in 2023 decreasing annually to $15,042 in 2042, for a total of $11,096,323 over a twenty (20) year period. Sufficient revenues will be generated to cover operating expenses, including power procurement.
STRATEGIC PLAN
Goal II: Ensure long-term fiscal health of the City and maintain funding for services.
B. Manage resources, costs, and liabilities to ensure the City’s long-term fiscal Health
Goal III: Invest in infrastructure to improve community livability.
B. Implement and administer environmentally sustainable programs.
Prepared by: Tammy Salt, Energy Resource Manager
Certified as to the availability of Funds: Janelle Samson, Finance Director Approved by: Ronda Perez, Interim City Manager
Report to Mayor and City Council
Re
Approve agreement A-7933, the Power Charge Indifference Adjustment (PCIA) Voluntary Allocation of Long-Term Renewable Energy Portfolio from Southern California Edison (SCE), and Authorize the Interim City Manager to Execute the Voluntary Allocation Agreement on behalf of Energy for Palmdale’s Independent Choice (EPIC).
May 4, 2022
Approved as to form: Christopher Beck, City Attorney
ATTACHMENTS
Voluntary Allocation Agreement Template
Voluntary Allocation Agreement
v. 2022.2.23
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Agenda Page 51
Voluntary Allocation Agreement
v. 2022.02.23
SCE – {Counterparty}
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Voluntary Allocation Agreement
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Voluntary Allocation Agreement
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Voluntary Allocation Agreement
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Agenda Page 82
Voluntary Allocation Agreement
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Appendix A – Defined Terms SCE – { Counterparty}
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Voluntary Allocation Agreement
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Appendix A – Defined Terms SCE – { Counterparty}
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Voluntary Allocation Agreement
v. 2022.02.23
Appendix A – Defined Terms SCE – { Counterparty}
Pro Forma Ver. 2022.02.23
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Agenda Page 85
Voluntary Allocation Agreement
v. 2022.02.23
Appendix A – Defined Terms SCE – { Counterparty}
Pro Forma Ver. 2022.02.23
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Voluntary Allocation Agreement
v. 2022.02.23
Appendix A – Defined Terms SCE – { Counterparty}
Pro Forma Ver. 2022.02.23
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Agenda Page 87
Voluntary Allocation Agreement
v. 2022.02.23
Appendix A – Defined Terms SCE – { Counterparty}
Pro Forma Ver. 2022.02.23
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Agenda Page 92
City Council Staff Report
DATE: MAY 4, 2022
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: CITY MANAGER’S OFFICE
FINANCE DIVISION
DISTRICT: ALL
SUBJECT: ADOPT RESOLUTION NO. CC 202 2-049, A RESOLUTION OF THE
CITY COUNCIL OF THE CITY OF PALMDALE DESIGNATING BY
TITLE AND NAME THOSE OFFICIALS WHO ARE AUTHORIZED TO
SIGN CHECKS AND WARRANTS, AND REPEAL RESOLUTION NO.
CC 2021-089.
ISSUE
Adopt Resolution No. CC 202 2-049, a Resolution of the City Council of the City of Palmdale designating by title and name those officials who are authorized to sign checks and warrants and repeal Resolution No. CC 2021-089.
RECOMMENDATION
Staff recommends that the City Council adopt Resolution No. CC 2022-049 designating by title and name those officials who are authorized to sign checks and warrants, and repeal Resolution No. CC 2021-089.
DISCUSSION
Resolution No. CC 2022-049 will reflect the hiring, appointment, or deletion of the following, and add or delete these individuals as authorized signer s of checks and warrants for the City of Palmdale.
Laura Bettencourt, Mayor Pro-Tem- Deleting
Richard Loa, Mayor Pro-Tem- Adding
Ronda Perez, Interim City Manager- Adding
Janelle Samson, Director of Finance- Adding
Janelle Samson, City Treasurer- Adding
Keith Kang, Finance Manager – Deleting
TBD, Finance Manager - Adding
TBD, Deputy City Treasurer - Adding
FISCAL IMPACT
There is no fiscal impact associated with this action.
Report to Mayor and City Council
Re: Adopt Resolution No. CC 2022-049 Designating Authorized Check Signers May 4, 2022