Agenda packet, first session — Palmdale City Council, August 3, 2022 (part 1 of 3)

The Council Chamber is open for in-person public comment and seating. The Mayor and/or one or more members of the City Council may participate virtually in this meeting.

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: +1 669 444 9171 Webinar ID: 892 0241 1067 Passcode: 522992
Webinar attendee link
https://us06web.zoom.us/j/89202411067?
pwd=V3FzdndKeFNNUHRFSVZsV3REcy9KZz09
.

Verbal comments must be limited to three (3) minutes. Public comments submitted will 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.

CITY COUNCIL MEETING

SUCCESSOR AGENCY/HOUSING AUTHORITY

CITY COUNCIL CHAMBERS
38300 SIERRA HIGHWAY

SUITE B
PALMDALE, CA 93550

WEDNESDAY, AUGUST
3, 2022
5:00 PM
7:00 PM
www.cityofpalmdale.org

WELCOME
City Council
Wednesday, August
3, 2022
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.

If you require oral Spanish translation, please contact the City Clerk’s Office at (661) 267- 5151 at least 72 hours prior to the meeting.

Your courtesy is requested to help our meetings run smoothly. If you’ll be kind enough to follow these simple rules, we can make the best possible use of your time and ours:

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/CHAIR HOFBAUER, MAYOR PRO TEM/VICE CHAIR LOA,

COUNCILMEMBERS/DIRECTOR/COMMISSIONERS CARRILLO, BISHOP,

BETTENCOURT, FRAGA-SAENZ, DENNY

3. PUBLIC COMMENTS ON CLOSED SESSION ITEMS
The public is invited to comment on any closed session item listed below. Please submit a Speaker's Form to the City Clerk
BEFORE
this portion of the meeting begins. Each
person addressing the Council is customarily given up to three minutes to speak (with double the time allotted to non-English speakers using a translator). The amount of time authorized may be adjusted by the chair. If you wish to provide information to the Council, please present the City Clerk with 7 copies. Otherwise, your materials will simply be added to the administrative record. 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.

City Council
Wednesday, August
3, 2022

4. PRESENTATION BY CITY ATTORNEY

4.1 CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION Shanae Smith, Patricia Nevarez and Michael "Mike" Behen vs. City of Palmdale, et al.

Los Angeles County Superior Court
Case No. 22STCV18219
This closed session is being held pursuant to the authority of California Government Code Section 54956.9(d)(1).

4.2 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).

4.3 CONFERENCE WITH LEGAL COUNSEL—EXISTING LITIGATION
Government Code Section 54956.9(d)(1).

Name of case: John J. Murphy v. City of Palmdale;
Los Angeles County Superior Court Case Number: 22STCV22544 Related City Claim Number: 2022-007

4.4 CONFERENCE WITH REAL PROPERTY NEGOTIATORS
Property Address: 38820 3rd Street East and vacant land (APN 3006-008- 06,14,15)
Negotiators for the City: Mike Miller, Director Neighborhood Services and Sophia Reyes, Housing Manager
Negotiator for Property Owner: The Rickey Thomas SEBO 2021 Trust Under Negotiation: Price and terms of payment

4.5 CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION Leona Valley Town Council vs. City of Palmdale, et al.

Los Angeles County Superior Court
Case No. 22STCP01932
This closed session is being held pursuant to the authority of California Government Code Section 54956.9(d)(1)

City Council
Wednesday, August
3, 2022

4.6 CONFERENCE WITH LEGAL COUNSEL—EXISTING LITIGATION
In Re National Prescription Opiate Litigation
United States District Court - Northern District of Ohio, Eastern Division Case No. 17-MD-2804

This closed session is being held pursuant to the authority of California Government Code Section 54956.9(d)(1).

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 by Mayor and Council of a Commendation to outgoing Planning Commissioners V. Jesse Smith and Bart Avery.

8.3 Presentation by Pueblo Y Salud and Sharon O'Hara DrPH: Investigating the Relationship between Alcohol Outlet Density and Crime Rates in Palmdale, CA 2019-2020.

Palmdale Augpresentation.pdf

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 ON LISTED AGENDA ITEMS (EXCLUDING PUBLIC

HEARINGS)
You may address the Council/Authority once per meeting during Public Comments. This portion of the public comment is on any item listed on the agenda, excluding public hearings (if any). Public comment on public hearing items (if any) will be heard when that matter is considered. To address the Council/Authority regarding an item on the agenda, City Council
Wednesday, August
3, 2022
please fill out a Speaker's Form and submit it to the City Clerk BEFORE the Mayor/Chair announces the item. Each person addressing the Council/Authority is customarily given up to three minutes to speak (with double the time allotted to non-English speakers using a translator). The amount of time authorized may be adjusted by the chair. If you wish to provide information to the Council, please present the City Clerk with 7 copies. Otherwise, your materials will simply be added to the administrative record. 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.

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 June 2022.(Staff Reference: Director of Finance Samson)

1._Staff_Report_-_Investment_Report_June_2022.docx

2. June 2022 City & Successor Investment Reports.pdf

11.2 Approve First Amendment to Agreement with Eide Bailly to provide Audit Services for an additional amount of $75,000, and not to exceed amount of $398,792 for a 1 year term through June 30, 2023. (Staff Reference: Director of Finance Samson)

1. Staff Report_Eide Bailly Amendment.docx

City of Palmdale - Eide Bailly
(A-7499) Amendment #1.pdf

11.3 Approve Second Amendment to professional services Agreement with Lance, Soll, & Lunghard, LLP for an additional amount of $27,400, not to exceed amount of $237,400 for a four (4) year term through March 30, 2026. (Staff Reference:

Director of Finance Samson)

01. Staff_Report_-_Agreement_A-7459_Lance Soll
Lunghard V2.docx

Second_Amendment_to_Agreement_A-7459_with_Lance__Soll___Lunghard.pdf

11.4 Adopt Resolution No. CC 2022-085, a Resolution of the City Council of the City of Palmdale, authorizing the submission of the application for the 2022 Local Edward Byrne Memorial Justice Grant (JAG) Program to receive a Grant allocation of $50,943. (Staff Reference: Director Neighborhood Services Miller - Presented by Housing Coordinator Nichols)

JAG_Staff_Report_Resolution_No_CC_2022-085.docx

JAG__Resolution_No_CC_2022-085.pdf

JAG 2022 Complete Application for submission.pdf

City Council
Wednesday, August
3, 2022

11.5 Approve Memorandum of Understanding Between the City of Palmdale and Antelope Valley Economic Development and Growth Enterprise (AV EDGE) (Staff Reference: Director of Economic and Community Development Garibay - Presented by Sr. Economic Development Managing Analyst Schuler)

Staff_Report AV EDGE- A-8013.pdf

A-8013 AV Edge MOU.pdf

11.6 Award IFB 22-005-3400 Backflow Prevention Device Testing, Repair & Replacement and approve agreement with Greene Backflow in an amount not to exceed $240,000 over the contract term. (Staff Reference: Director of Public Works Heffernan)

SR_Award_IFB_Approve_A-7971_-_Greene_Backflow (1).pdf

A-7971 Greene Backflow v02 (awaiting signature).pdf

11.7 Award IFB 22-004-3400 As Needed Professional Painting Services and approve agreement with US National Corp dba Jimenez Painting Company in an amount not to exceed $400,000 over the contract term. (Staff Reference: Director of Public Works Heffernan)

SR Award IFB & Approve A-7972 - US National Corp.docx

A-7972 US National Corp dba Jimenez Painting Company v02 (awaiting signature).pdf

11.8 Notice of Completion - Accept completed project with Nu Line Technologies, LLC., for PN 751-B, Sanitary Sewer Pipeline Trenchless Rehabilitation Project, at various locations throughout the City. (Staff Reference: Director of Public Works Heffernan - Presented by Deputy Director of Public Works Glidden)

Stf Rpt NOC PN 751B.docx

Signed NOC PN 751B.pdf

11.9 Notice of Completion - Accept completed project with Interior Demolition Inc., for PN 832, Avenue R Abatement and Demolition of 2 Commercial Buildings. (Staff Reference: Director of Public Works Heffernan - Presented by Deputy Director of Public Works Glidden)

Stf Rpt NOC PN 832.docx

Signed NOC PN 832.pdf

11.10 Award construction agreement with Manhole Adjusting Inc., for PN 866, Sewer Manhole Adjustments and Rehabilitation Project, in the amount $340,000 for a term of 120 working days from the date of the Notice to Proceed. (Staff Reference: Director of Public Works Heffernan - Presented by Deputy Director of Public Works Glidden)

Staff_Report-_Final_PN_866.docx

City Council
Wednesday, August
3, 2022

11.11 Approve Excess Costs Grant Agreement with Homes for Families for $800,000 for development of 56 unit CalVet REN Veteran housing located at Division and Taintor. (Staff Reference: Director Neighborhood Services Miller - Presented by Housing Manager Reyes)

03 SR H4F ARPA Agreement 8.3.2022.docx

03 A-8007 H4F Grant Agreement.pdf

03 Project Map H4F.pdf

11.12 Approve Grant from the City of Palmdale to the Housing Authority of the City of Palmdale of $1,200,000 of United States Treasury of Coronavirus Local Fiscal Recovery Funds (CSLRF Funds) under the American Rescue Plan Act (ARPA) for development of affordable housing in the City of Palmdale. (Staff Reference:

Director Neighborhood Services Miller - Presented by Housing Manager Reyes)

01 SR City ARPA Funding grant to HA.docx

11.13 Adopt Resolution No. CC 2022-087, a Resolution of the City Council of the City of Palmdale Making Legally Required Findings for Extending Remote Teleconference Participation for Meetings of the City Council and its Related and/or Subordinate Legislative Bodies. (Staff Reference: Acting City Attorney Porter)

SR_-_RESO_Authorizing_Remote_Meetings_080322.docx

RESO_-087Continuing_Remote_Meeting_authorization_-_For_Aug_3_2022.docx

11.14 Approve the minutes from the previous meetings. (Staff Reference: City Clerk/Agency Secretary Smith)

CC/SA/IDA/PAA/PCA/PFA - June 15, 2022
CC/SA/IDA/PAA/PCA/PFA - June 16, 2022

City Council_SA_HA_IDA_PAA_PCA_PFA Minutes 06 15 2022.pdf

City Council_SA_HA_IDA_PAA_PCA_PFA - 06_16_2022 - 5_00 PM & 7_00 PM.pdf

12. HOUSING AUTHORITY CONSENT CALENDAR
All matters listed under the Consent Calendar will be enacted by one motion unless an item(s) is pulled by the Authority, in which case the item(s) will be removed from the Calendar and will be considered separately following this portion of the Agenda.

12.1 Accept Grant from the City of Palmdale to the Housing Authority of the City of Palmdale of $1,200,000 of United States Treasury of Coronavirus Local Fiscal Recovery Funds (CSLRF Funds) under the American Rescue Plan Act (ARPA) for development of affordable housing in the City of Palmdale. (Staff Reference:

Director Neighborhood Services Miller - Presented by Housing Manager Reyes)

02 SR HR
ARPA Grant from City

8.3.2022.docx

City Council
Wednesday, August
3, 2022

12.2 Approve Excess Costs Loan Agreement with Ravello Mods Palmdale 118, LLC of $1,200,000 for development of 118 unit affordable rental housing located at 65th Street East and East Avenue S. (Staff Reference: Director of Neighborhood Services Miller - Presented by Housing Manager Reyes)

04 SR Ravello ARPA Agreement 8.3.2022.docx

04 Ravello ARPA Agreement A-8008 8.3.2022.pdf

04 Project Map Ravello.pdf

12.3 Approve the minutes from the previous meetings. (Staff Reference: Deputy City Clerk/Deputy Agency Secretary Scott)

HA - June 15, 2022
HA - June 16, 2022

City Council_SA_HA_IDA_PAA_PCA_PFA Minutes 06 15 2022.pdf

City Council_SA_HA_IDA_PAA_PCA_PFA - 06_16_2022 - 5_00 PM & 7_00 PM.pdf

13. PUBLIC HEARING

13.1 Public Hearing and Review of Proposed Resolution No. CC 2022-065 for adoption, regarding an updated city wide fee schedule. (Staff Reference: Director of Finance Samson)

Adopt Resolution No. CC 2022-065, A Resolution of the City Council of the City of Palmdale restating in its entirety the Palmdale Master Schedule of Fees and repealing Resolution No.CC 2021-057

1._FY_2022-23_Staff_Report_Citywide_Fee_Resolution_Final_JS(2).docx

2._FY_2022-23_Reso_CC_2022-065_Citywide_Fee_Resolution_Final_1_.doc

3. Palmdale Fee Schedule_Proposed 08.3.22.pdf

13.2 Public Hearing and Review of Proposed Resolution No. CC 2022-084, regarding the issuance of California Municipal Finance Authority Solid Waste Disposal Revenue Bonds. (Staff Reference: Director of Finance Samson)

Adopt Resolution No. CC 2022-084, A Resolution of the City Council of the City of Palmdale approving a plan of finance for the issuance of the California Municipal Finance Authority Solid Waste Disposal Revenue Bonds (Waste Management, Inc. project) in an aggregate principal amount not to exceed $355,000,000 for the purpose of financing improvements to solid waste disposal facilities and certain other matters relating thereto.

1. Staff_Report_-_TEFRA_Public_Hearing_and_Resolution_Aug2022_WM.docx

2. TEFRA Reso - Waste Management.docx

3. Proof of Publication.pdf

City Council
Wednesday, August
3, 2022

13.3 Public Hearing and Review of Proposed Ordinance No. 1592 for introduction and adoption. (Staff Reference: Director of Economic and Community Development Garibay)

AN ORDINANCE OF THE CITY COUNCIL AMENDING SECTION 5.04.670 (TOBACCO/SMOKING PRODUCT RETAILER) OF CHAPTER 5.04 (BUSINESS REGULATION) OF TITLE 5 (BUSINESS LICENSES, TAXES, AND

REGULATION) OF THE PALMDALE MUNICIPAL CODE TO BAN FLAVORED

TOBACCO PRODUCTS

Staff_Report-Banning_Flavored_Tobacco_Products_PMC_5.04.670_lg.pdf

Flavored_Tobacco_Ban_Ordinance_1592_lg(1).pdf

13.4 Public Hearing and Review of Proposed Ordinance No. 1593 for Adoption. (Staff Reference: Interim City Manager Ronda Perez - Presented by City Council Chief of Staff Terrie Zayas).

An Ordinance of the City Council of the City of Palmdale adding Chapter 9 (Unlawful Possession of a Catalytic Converter Prohibited) of Title 10 (Vehicles and Traffic) of the Palmdale Municipal Code Establishing Regulations Prohibiting the Unlawful Possession of Catalytic Converters in the City.

SR_Catalytic_Converter_Ordinance.pdf

14. NEW BUSINESS

14.1 Approve the Amended Employment Agreement between the City of Palmdale and Scott Porter, Interim City Attorney. (Staff Reference: Interim City Manager Perez)

Staff_Report_8.2022_Final.pdf

City of Palmdale - Jones & Mayer (A-7578) Amendment 1 - 07-27-2022 - Preview.pdf

Jones & Mayer (A-7578) (3).pdf

14.2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALMDALE

DIRECTING CITY STAFF AND THE SHERIFF TO NOT ENFORCE AGAINST THE PUBLIC COVID-19 RELATED MASK ORDERS OF THE LOS ANGELES

COUNTY DEPARTMENT OF HEALTH

Recommendation: Adopt Resolution CC 2022-089 to not enforce against the Public COVID-19 related mask orders of the Los Angeles County Department of Health.

SR_-_Non_Enforcement_of_County_Masking_Orders.pdf

RESO_-_Non_Enforcement_of_County_Masking_Orders.pdf

City Council
Wednesday, August
3, 2022

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

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 080322.docx

16. CITY MANAGER’S REPORT

17. CITY COUNCIL REQUESTS FOR NEW AGENDA ITEMS

18. PUBLIC COMMENTS ON NON-AGENDA ITEMS
This portion of the Agenda allows an individual the opportunity to address the Council on any subject within the City’s subject matter jurisdiction not on the Agenda. Under state legislation, in general, no action can be taken on items not specifically referenced on the Agenda, but may offer suggestions on how your concerns may best be resolved. To address the Council regarding a non-agenda item, please fill out a Speaker's Form and submit it to the City Clerk
BEFORE
the Mayor announces the item. Each person
addressing the Council is customarily given up to three minutes to speak (with double the time allotted to non-English speakers using a translator). The amount of time authorized may be adjusted by the chair. If you wish to provide information to the Council, please present the City Clerk with 7 copies. Otherwise, your materials will simply be added to the administrative record. 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.

City Council
Wednesday, August
3, 2022
Press *6 to un-mute yourself, state your name and begin speaking.

19. Adjourn meeting to August 17, 2022 at 7:00 p.m. in the City Hall Council Chamber located at 38300 Sierra Highway, Suite B, Palmdale, California.

City Council
Wednesday, August
3, 2022
Investigating the Relationship between Alcohol Outlet Density and Crime Rates Palmdale, CA 2019-2020Sharon O’Hara DrPHResearch FellowUniversity of California, BerkeleyPacific Institute for Research and Evaluation (PIRE) Why investigate the relationship between alcohol outlet density and crime in the community? •Studies conducted across the U.S. have found an association between greater alcohol outlet density and higher violent crime rates, even when controlling for sociodemographic factors. (Cunradi2015)*•The World Health Organization and the U.S. Centers for Disease Control and Prevention** recommend limiting alcohol outlet density as one way to reduce alcohol consumption and related harms, including crime and other community / social impacts.*Freisthleret al., 2005; Gorman et al., 2001; Gruenewald and Remer, 2006; Gruenwald et al., 2006; Lipton and Gruenewald, 2002; Parker et al., 2011; Reid et al., 2003; Scribner et al., 1995; Scribner et al., 1999; Toomey et al., 2012; Zhu et al., 2004**Campbell CA, Hahn RA, Elder R, et al. The effectiveness of limiting alcohol outlet density as a means of reducing excessive alcohol consumption and alcohol-related harms. Am J PrevMed. 2009;37(6):556–569.

Why is it important to routinely measure and monitor density in states and communities? Data on density can be used to evaluate the relationship between this exposure and various health and social harms, including crime.

Sacks JJ, Brewer RD, MesnickJ, Holt JB, Zhang X, KannyD, Elder R, Gruenewald PJ. Practice full report: Measuring alcohol outlet density: An overview of strategies for public health practitioners. Journal of public health management and practice. 2020 Sep;26(5):481.

Identifying areas with high or increasing density can help local community planning and zoning departments and alcohol control agencies determine whether to issue new alcohol licenses [or permits], reissue old ones, increase enforcement of liquor laws, or some combination of these actions.

The Research Team
Sharon O’Hara, DrPH-Principal investigator-Pacific Institute for Research and Evaluation, UC Berkeley Public HealthHenaOsmani -UC Berkeley Environmental Health Student / GIS maps leadJesus Torres -UC Berkeley Public Health Student / GIS mapsCharlotte Smith, PhD -UC Berkeley Public Health GIS InstructorStatistical analysis support from Mallie Paschall, PhD, Joel Grube, PhD and William Ponicki, Prevention Research Center, Berkeley, CA Methods: data collected•Part 1 and Part 2 crimes handled by the Palmdale Sheriff's Station in 2019 and 2020 (Los Angeles Sheriff's Department Part I and Part II Data) •Names, addresses, and types of licensed retail alcohol establishments in the City of Palmdale (CA ABC Licenses by City) •Palmdale city boundaries and US census block groups made up of areas that populations ranging from 600 to 2000 people (US Census Data) •Sociodemographic data for each block group (US Census Data) All Part 1 Crimes* Included in Analysis•Criminal Homicide•Forcible Rape•Robbery•Aggravated Assault•Burglary•Larceny Theft•Grand Theft Auto•Arsonhttps://lasd.org/transparency/part1and2crimedata/#part1* As Defined By The Federal Bureau Of Investigation (FBI) Selected Part 2 Crimes* Included in Analysis•Sex Offenses Felonies•Sex Offenses Misdemeanors•Non-Aggravated Assaults•Weapon Laws•Offenses Against Family•Narcotics •Drunk / Alcohol / Drugs•Drunk Driving Vehicle / Boat•Vehicle / Boating Laws•Vandalism•Felonies Miscellaneous•Misdemeanors Miscellaneous * As Defined By The Federal Bureau Of Investigation (FBI) https://lasd.org/transparency/part1and2crimedata/#part2 Methods: creating a spatial dataset•Each crime point geocoded and spatially joined to census block groups using ArcGIS Online•Each licensed retail alcohol establishment within City boundaries geocoded and spatially joined to census block groups using ArcGIS•Densities calculated as:•Crime rate -# crimes per 1000 people •Alcohol density -# outlets per square mile•Sociodemographic information added to each census block group.

Methods: analysis of dataSpatial analysis of the relationships between the density of licensed retail alcohol establishments and the crime rate in block groups, taking into account(controlling for) sociodemographic factors•GIS Mapping (ArcGIS Online)•Multilevel Regression Analysis (Stata 17) Results: GIS mapping

Palmdale licensed retail alcohol establishments 2019 (n=171)

Palmdale licensed retail alcohol establishments 2020 (n = 173)

Palmdale licensed retail alcohol establishments and census block groups

2019 Total Crimes

Part 1 Crimes 2019

Part 2 Crimes 2019

2019 Part 1 Hot Spots

2019 Relationship between alcohol outlet density and Part I crimes Palmdale 2019 Part 1 Crime Statistics (for comparison to the following slides) 2019 City-wide P1 crime rate (per 1,000 people) = 16.58 2019 City-wide outlet density (per square mile) = 1.61 93550 ZIP code
93550 ZIP code

2019 Relationship between alcohol outlet density and Part 2 crimes Palmdale 2019 Part 2 Crime Statistics (for comparison to the following slides) 2019 City-wide P2 crime rate (per 1000 people) = 26.41 2019 City-wide outlet density (per sq mile) = 1.61

93550 ZIP code

Results: multilevel regression
Positive associations* were found across both years studied (2019 & 2020) between ZIP code 93550 and Part 1 and Part 2 crime counts. *Establishing causality is not possible in this case because we used data from past years and were not able to “control” all conditions in any of the block groups. Statistically significant associations allow us to make predictions about the number of crimes associated with an increase in alcohol outlets.

Results: Palmdale block groups•Alcohol outlet density is positively associated with crime rate at the block group level•A positive association was found across both of the yearsstudied (2019 & 2020), for both outlet types (on-premises & off-premises). •With each additional on-premises establishment (per square mile) there is a 23% increase in the likelihood of a PI crime (per 1,000 pop.)•With each additional off-premises establishment (per square mile) there is a 67% increase in likelihood of a PI crime (per 1,000 pop.) Thank you
City Council Staff Report
DATE: AUGUST 03, 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 JUNE 2022.

ISSUE
Receive and file the monthly and quarterly investment activity reports for June 2022.

RECOMMENDATION
Staff recommends that the City Council accept the monthly and quarterly investment activity report for City of Palmdale and Successor Agency for June 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 Ma nager/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 Succ essor 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 presented 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 obtained from the Wall Street J ournal, Bloomberg Financial Markets, Capital Market Finances, or other reliable source of market prices.

Report to Mayor and City Council
Re: Monthly and Quarterly Report on Investments
June 30, 2022

Page 2 ends

DISCUSSION
Compliance with Investment Policy
For June, the invested portfolio amount for the City of Palmdale totaled $280,303,953 an increase of $23,472,073 from the previous month, and an increase of $37,075,297 in comparison to last year. The increase in overall portfolio balance from the prior month is due to new investment purchases made during the month as well as transfers to the City’s LAIF account.

The par value of Successor Agency’s portfolio as of June was $15,240,849. The balance increased by $3,745,213 from the last month due to deposits made in to the Successor Agency LAIF account 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 June is $100,077,206, a $15,000,000 increase compared to the prior month due to deposit made during the month.

Successor Agency LAIF balance at the end of June was $8,700,688, an increase of $5,000,000 from the previous month due to deposit made during the month.

CAMP’s balance for City of Palmdale is $249,320 compared to May’s balance of $249,087, a slight increase due to interest received.

Report to Mayor and City Council
Re: Monthly and Quarterly Report on Investments
June 30, 2022

Page 3 ends

The interest rates presented are the most current rates available as of the date of this report. As of June 30, 2022, the interest rates for LAIF and CAMP investments were at .861 percent and 1.14 percent, respectively. By comparison, the LAIF and CAMP interest rates at the end of May were at .684 percent and .82 percent. Both rates have slightly increased within this month. This time last year, LAIF and CAMP rates were at

0.262 percent and 0.05, respectively.

The chart above shows both the Local Agency Investment Fund and California Asset Management Program’s average monthly yields beginning September 2021 through June 2022.

We anticipate the rates to increase in the upcoming months, considering the current state of the economy. In the current month, CAMP shows better performance than LAIF in interest rates, however, the historical trend shows that LAIF rates generally outperform CAMP 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 reports include all investments held by both entities and current book values as of June 30, 2022.

0.21% 0.20% 0.20% 0.21% 0.23% 0.28%

0.37%

0.52%

0.68%

0.86%

0.05% 0.05% 0.05% 0.05% 0.05% 0.06%

0.25%

0.50%

0.82%

1.14%

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%
Q1 Sep Oct Nov Q2 Dec Jan Feb Q3 Mar Apr May Q4 Jun
Pooled Investments Monthly Yields

LAIF CAMP
Report to Mayor and City Council
Re: Monthly and Quarterly Report on Investments
June 30, 2022

Page 4 ends

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 and the current economic conditions and the impact on interest rates.

Attached are summaries of the investments on the City of Palmdale and Successor Agency’s books as of June 30, 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: 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: Scott E. Porter, Acting 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
June 30, 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 06-29-22 08-12-25 CITY 3133EL3P7 Federal Farm Credit Bank 3.34 1,810,000.00 1,660,349.20 1,663,999.87 06-29-22 03-28-25 CITY 3130A5DH9 Federal Home Loan Bank 3.34 1,950,000.00 1,937,715.00 1,937,882.92 06-24-22 02-26-27 CITY 3130AL5A8 Federal Home Loan Bank 3.33 5,000,000.00 4,479,000.00 4,493,750.00 c = callable
TOTAL GOVERNMENT AGENCY PAPER 91,160,000.00$ 90,528,090.33$ 90,620,059.99$

CERTIFICATES OF DEPOSIT
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 980,000.00$ 980,000.00$ 1,033,634.43$

CITY OF PALMDALE INVESTMENTS

CITY OF PALMDALE

TREASURER'S REPORT OF INVESTMENTS
June 30, 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 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 11,575,000.00$ 11,782,135.00$ 11,862,171.66$

STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND
09-01-84 n/a CITY ACCOUNT 98-19-620 0.78 45,118,304.25 45,118,304.25 45,118,304.25 06/23/08 n/a PCA ACCOUNT 40-19-060 0.78 37,234,403.09 37,234,403.09 37,234,403.09 n/a ARPA ACCOUNT 19-19-004 0.78 17,724,498.78 17,724,498.78 17,724,498.78 TOTAL LAIF ACCOUNTS 100,077,206.12$ 100,077,206.12$ 100,077,206.12$

CAMP- CALIFORNIA ASSET MANAGEMENT PROGRAM
6080-01 n/a CITY ACCOUNT 6080-01 0.30 249,320.70 249,320.70 249,320.70 TOTAL CAMP ACCOUNTS 249,320.70$ 249,320.70$ 249,320.70$

UBS FINANCIAL SERVICES
n/a n/a CITY ACCOUNT 0.00 376,210.16 376,210.16 376,210.16 TOTAL UBS FINANCIAL SERVICES ACCOUNTS 376,210.16$ 376,210.16$ 376,210.16$ TOTAL CITY INVESTMENTS 278,232,736.98$ 280,009,915.51$ 280,303,952.96$

CITY OF PALMDALE

TREASURER'S REPORT OF INVESTMENTS
June 30, 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 12,463.81
TOTAL LIBRARY INVESTMENTS 12,463.81$

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 0.01 106.64
05-10-95 n/a IMPROVEMENT 95421222 0.01 154,971.72
City Held Cash(Fund 736-114000) ($255,912.67)
TOTAL SIERRA GATEWAY COMMUNITY FACILITIES DISTRICT 91-1 155,078.36$

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 2,585,924.04
04-06-95 n/a BOND 95420887 0.00 0.15
City Held Cash(Fund 738-114000) ($1,000,675.82)
TOTAL RITTER RANCH COMMUNITY FACILITIES DISTRICT 93-1 2,585,924.19$

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 0.00 722,959.79
08-01-19 n/a SP TAX - REFUNDING BOND 242969004 0.01 15,149.45 08-01-19 n/a SP TAX - REFUNDING BOND COI242969005 0.01 300.42 City Held Cash(Fund 734-114000) $900,917.97
TOTAL ANAVERDE COMMUNITY FACILITIES DISTRICT 2003-1 738,428.99$

LIBRARY INVESTMENTS

FISCAL AGENT CASH

CITY OF PALMDALE

TREASURER'S REPORT OF INVESTMENTS
June 30, 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 0.01 639,156.69
City Held Cash
TOTAL 2005 $7.2M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) REFUNDED 2021639,176.07$

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 45,344.33
11-08-06 n/a ADM EXP 106844002 0.01 1,594.70
11-08-06 n/a RESERVE FUND 106844003 0.01 99,769.82
City Held Cash(Fund 739-114000) $127,799.09
TOTAL 2006-1 Godde Hill Estate Sewer Improvements LOIB 146,708.85$

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
June 30, 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 2,979,524.89
TOTAL 2013 HA TRANSIT VILLAGE HOMES ESCROW 2,979,524.89$ 2015 HA DEBT SERVICE RESERVE
Fiscal Agent: Bank of America
11-19-15 n/a DEBT SVC RESERVE 1257964992 0.08 39,152.71 TOTAL 2015 HA DEBT SERVICE RESERVE 39,152.71$

PARS RESTRICTED CASH FOR PENSION STABILIZATION TRUST FUND 05-23-18 n/a CITY 104790895775 Public Agency Retirement Services2.60 6,552,144.70 TOTAL PARS PENSION TRUST FUND 6,552,144.70$

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 28,738.59
09-03-15 n/a INTEREST ACCT 277067001 0.01 6.95
09-03-15 n/a BOND RESERVE 277067003 0.00 281,016.19
09-03-15 n/a REPAIR & REPLACE FUND 277067004 0.00 1,129,301.89 TOTAL 2015 HA $4.3M MULTIFAMILY HOUSING REVENUE BONDS 1,439,063.62$

FISCAL AGENT CASH

CITY OF PALMDALE

TREASURER'S REPORT OF INVESTMENTS
June 30, 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 0.64
04-05-17 n/a PRINCIPAL ACCT 271128002 n/a 0.00
TOTAL 2017 PFA $17.4M LEASE REVENUE BONDS 0.64$
Total City Held Cash (XXX-114000) $516,817.13
GRAND TOTAL - FISCAL AGENT CASH 14,636,027.28$

CITY OF PALMDALE

TREASURER'S REPORT OF INVESTMENTS
June 30, 2022
Cash on Hand 11,657,206$
Pooled Cash Investments

City: 270,271,442$
Insur Fund: $10,032,511 280,303,953$
Library Investments $12,464

Subtotal 291,973,623$

City/AD/CFD/PCA/PFA/HA
Fiscal Agent Cash 14,636,027$ *

Grand total 306,609,650$

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 June 30, 2022.
\\cityofpalmdale.org\Finance\general\Cash and Investment\Investment\Investment Reports\21-22\12 June 2022\[12 June 2022 Investment Report City.xls] June Monthly

SUMMARY OF CASH AND INVESTMENTS

Page 1 of 1 ends

CITY OF PALMDALE

TREASURER'S REPORT OF INVESTMENTS
June 30, 2022

CITY OF PALMDALE

POOLED CASH - LOCAL AGENCY INVESTMENT FUND (LAIF), CALIFORNIA ASSET MANAGEMENT PROGRAM (CAMP), & UBS FINANCIAL SERVICES June 30, 2022

TRANSACTION INTEREST

DATE DEPOSIT WITHDRAWAL RECEIVED BALANCE
CITY ACCOUNT 98-19-620
Beginning Balance 30,118,304.25$
06/29/22 15,000,000.00$ -$

Subtotal 15,000,000.00$ -$ -$ 45,118,304.25$ PCA ACCOUNT 40-19-060
Beginning Balance 37,234,403.09$
-$
Subtotal -$ -$ -$ 37,234,403.09$ LIBRARY ACCOUNT 16-19-012
Beginning Balance 12,463.81$
-$
Subtotal -$ -$ -$ 12,463.81$ ARPA ACCOUNT 19-19-004
Beginning Balance 17,724,498.78$
-$
Subtotal -$ -$ -$ 17,724,498.78$

CAMP - CALIFORNIA ASSET MANAGEMENT PROGRAM
Beginning Balance 249,087.46$
06/30/22 - $ 233.24$ Subtotal -$ -$ 233.24$ 249,320.70$ UBS Financial Services
Beginning Balance 3.37$
06/30/22 (84,375.00)$ 460,581.79$ Subtotal -$ (84,375.00)$ 460,581.79$ 376,210.16$ Total 15,000,000.00$ (84,375.00)$ 460,815.03$ 100,715,200.79$ 100,465,880.09$

CITY OF PALMDALE

TREASURER'S REPORT OF INVESTMENTS
June 30, 2022
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 Total Number of Transactions: 0

CITY OF PALMDALE

POOLED CASH - INVESTMENTS MATURED OR CALLED
June 30, 2022

CITY OF PALMDALE

TREASURER'S REPORT OF INVESTMENTS
June 30, 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 3130AL5A8 Federal Home Loan Bank 06-24-22 02-26-27 5,000,000.00$ (521,000.00)$ 4,479,000.00$ 14,750.00$ 4,493,750.00$ 3.33% 3133EL3P7 Federal Farm Credit Bank 06-29-22 08-12-25 1,810,000.00$ (149,650.80)$ 1,660,349.20$ 3,650.67$ 1,663,999.87$ 3.34% 3130A5DH9 Federal Home Loan Bank 06-29-22 03-28-25 1,950,000.00$ (12,285.00)$ 1,937,715.00$ 167.92$ 1,937,882.92$ 3.34% -$ -$
-$
8,760,000.00$ (682,935.80)$ 8,077,064.20$ 18,568.59$ 8,095,632.79$ Total Number of Transactions: 3

CITY OF PALMDALE

POOLED CASH - INVESTMENTS PURCHASED
June 30, 2022

SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALMDALE

TREASURER'S REPORT OF INVESTMENTS
June 30, 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 8,700,687.94
TOTAL LAIF ACCOUNTS 8,700,687.94$

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 0.01 528,143.84
08-20-02 n/a INTEREST ACCT 94460701 0.01 28.92
08-20-02 n/a PRINCIPAL ACCT 94460702 0.01 0.15

TOTAL CRA - 2002 Sub Lien Tax Allocation Bonds $5.3M ($5,329,748.25) 528,172.91$

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 $528,174

SUMMARY OF CASH AND INVESTMENTS
Cash on Hand 6,011,987$ $6,017,006
($5,102)
Pooled Cash Investments 8,700,688$ $83
$6,011,987
Successor Agency Fiscal Agent Cash 528,174$ *

Grand total 15,240,849$

* The interest rate quoted on LAIF and Fiscal Agent/Trustee accounts is the most current rate available.

LAIF interest rates are as of June 30, 2022.
\\cityofpalmdale.org\Finance\general\Cash and Investment\Investment\Investment Reports\21-22\12 June 2022\[11 May 2022 Investment Report Successor Agency.xls]Staff Report Notes

SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALMDALE

TREASURER'S REPORT OF INVESTMENTS

POOLED CASH - LOCAL AGENCY INVESTMENT FUND (LAIF)
June 30, 2022

TRANSACTION INTEREST

DATE DEPOSIT WITHDRAWAL RECEIVED BALANCE
SA ACCOUNT 65-19-035
Beginning Balance 3,700,687.94$
06/29/22 5,000,000.00$
Subtotal 5,000,000.00$ -$ -$ 8,700,687.94$ City of Palmdale: Flagship Lite
Palmdale, CA
As of Date: 06/30/2022
Pricing as of: 06/30/2022
Date of Analysis: 07/07/2022

Portfolio Overview
Portfolio Attributes
Curr. Face
275,907
Mkt. Value
268,537
Book Value
275,907
Est. Gain/Loss
-7,369
Ave. Mkt. Price

97.33 Ave. Bk. Price
100.00
Eff. Dur.

1.47 Eff. Conv.

0.02 TOAS
-37.1
Mkt YTP

2.18 Bk YTP

1.11 WAL

1.53 Line Items
50 City of Palmdale: Flagship Lite - Palmdale, CA

Page 2 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Duration / Convexity
Eff. Dur.

1.47 Eff. Conv.

0.02 City of Palmdale: Flagship Lite - Palmdale, CA

Page 3 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Portfolio Sector Summary
Market
%
Book
Market
Est
Eff
Eff Dur
% Δ
in Price
Sector
Par Value
Value
Port
Price
Price
G/L
Conv
Bk Yld
Mkt Yld
+50
Base
-50
+50
Base
-50
Cash & Other
100,327
100,327

36.4%
100.00
100.00
0 0.00

0.78 0.78

0.08 0.08

0.08 0.0%
0 0.0%
Treasury Note
73,815
71,874

26.8%
100.00

97.37 -1,941

0.06 1.57

2.96 1.99

1.99 1.99

0.0%
0 0.0%
Berm Call
42,650
39,719

15.5%
100.00

93.13 -2,931

0.02 0.73

3.08 2.96

2.96 2.96

0.0%
0 0.0%
Amer Call
35,560
33,432

12.9%
100.00

94.02 -2,128

0.03 0.96

3.09 2.83

2.83 2.83

0.0%
0 0.0%
Agency Bullet
11,000
10,719

4.0%
100.00

97.44 -281

0.07 1.93

2.97 2.10

2.10 2.10

0.0%
0 0.0%
Industrial
10,075
9,985

3.7%
100.00

99.10 -90
-0.01

1.79 2.95

0.70 0.70

0.70 0.0%
0 0.0%
Finance
1,500
1,501

0.5%
100.00
100.09
1 -0.07

2.80 2.49

0.42 0.42

0.42 0.0%
0 0.0%
NCD
980
981

0.4%
100.00
100.14
1 0.01

3.14 2.97

0.84 0.84

0.85 -0.4%
0 0.4%
Portfolio Totals
275,907
268,537
100.0%
100.00

97.33 -7,369

0.02 1.11

2.18 1.47

1.47 1.47

0.0%
0 0.0%
City of Palmdale: Flagship Lite - Palmdale, CA

Page 4 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Agency/Sovereign - Summary
Book
Market
G/L $
G/L %
WAL
% Px
Δ
Dur
Cvx
Sector
Par
Maturity
Price
Price
Base
Base
Base
-50
Base
Base
Subsector
%
Value
Cpn
Next Call
Value
Yield
Value
Yield
+ 100
+ 100
+ 100
+100
AFS %

2.1 yrs
100.00

97.37 -1,941
-2.6%

2.05 0.0

1.99 0.06
Treasury (15)

45.3%
73,815

1.57 73,815

1.57 71,874

2.96 -3,352
-4.5%

2.05 -2.0

97.4%

2.2 yrs
100.00

97.44 -281
-2.6%

2.18 0.0

2.10 0.07
Agency Bullet (4)

6.7%
11,000

1.93 11,000

1.93 10,719

2.97 -504
-4.6%

2.18 -2.1

97.4%

3.1 yrs
100.00

93.53 -5,059
-6.5%

3.06 0.0

2.90 0.02
Callable Agency (17)

48.0%
78,210

0.83 0.2 yrs
78,210

0.83 73,151

3.09 -7,169
-9.2%

3.06 -2.9

93.5%

2.5 yrs
100.00

95.53 -7,281
-4.5%

2.53 0.0

2.43 0.04
Total (36)
100.0%
163,025

1.24 0.2 yrs
163,025

1.24 155,744

3.02 -11,024
-6.8%

2.53 -2.4

95.5%
City of Palmdale: Flagship Lite - Palmdale, CA

Page 5 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Corporate - Summary
Rating
Book
Market
G/L $
G/L %
WAL
% Px
Δ
Dur
Cvx
Sector
Par
Moody's
Price
Price
Base
Base
Base
-50
Base
Base
Subsector
%
Value
Cpn
Maturity
S&P
Value
Yield
Value
Yield
+ 100
+ 100
+ 100
+100
AFS %
Aa3
100.00
100.09
1 0.1%

0.29 0.0

0.42 -0.07
Finance (1)

13.0%
1,500

2.80 0.5 yrs
AA-
1,500

2.80 1,501

2.49 -5
-0.3%

0.46 -0.4
100.1%
Aa1
100.00

99.10 -90
-0.9%

0.68 0.0

0.70 -0.01
Industrial (5)

87.0%
10,075

1.79 0.7 yrs
AA
10,075

1.79 9,985

2.95 -161
-1.6%

0.72 -0.7

99.1%
Aa1
100.00

99.23 -89
-0.8%

0.63 0.0

0.66 -0.02
Total (6)
100.0%
11,575

1.92 0.7 yrs
AA
11,575

1.92 11,486

2.89 -166
-1.4%

0.68 -0.7

99.2%
City of Palmdale: Flagship Lite - Palmdale, CA

Page 6 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Peer Group Comparison
As of
Book
G/L
Book
Average Life
% Price Change
Effective
UST
Fix
Fix
Flt
Agy
Sm
Prv
%
Peer
Date
Value
%
Yield
Base
-50
+100
-50
+50
+100
Dur
Cvx
Agy
MBS
ARM
CMO
CMO
CMBS
Bus.

Label
Muni
Corp
CD
Other
Fixed
1 04/22
275,359
-1.4

1.32 1.4

1.5 -1.4

1.4 0.0
25%
0%
0%
0%
0%
0%
0%
0%
64%
9%
0%
3%
100%
2 03/22
274,827
-2.0

0.31 1.3

1.4 -1.3

1.3 0.0
27%
0%
0%
0%
0%
0%
0%
0%
25%
0%
9%
38%
100%
3 04/22
271,521
-5.4

0.97 2.9

2.9 -2.7

2.7 0.0
84%
0%
0%
0%
0%
0%
0%
0%
15%
0%
1%
0%
100%
4 04/22
259,020
-3.7

2.1 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
5 04/22
293,398
-2.3

1.5 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
6 05/22
297,435
-3.3

0.05 1.6

1.6 -1.6

1.6 0.0
77%
0%
0%
0%
0%
0%
0%
0%
23%
0%
0%
0%
100%
7 06/22
251,323
-3.9

1.32 1.9

1.9 -1.8

1.8 0.0
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
8 05/22
304,911
-2.8

2.7 1.3
46%
0%
0%
0%
0%
0%
0%
0%
11%
39%
4%
0%
100%
9 05/22
306,409
-3.5

2.2 0.7
72%
0%
0%
0%
0%
0%
0%
0%
28%
0%
0%
0%
100%
10 04/22
307,560
-2.3

1.5 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
11 04/22
238,016
-1.9

1.3 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
12 05/22
317,492
-4.0

0.66 2.2

2.2 -2.1

2.1 0.0
72%
0%
0%
0%
0%
0%
0%
0%
24%
3%
0%
0%
100%
13 04/22
230,593
-3.6

1.55 2.5

2.5 -2.3

2.4 0.1
73%
0%
0%
0%
0%
0%
0%
0%
9%
9%
9%
0%
100%
14 05/22
217,918
-5.5

3.0 63%
0%
0%
0%
0%
0%
0%
0%
0%
37%
0%
0%
98%
15 04/22
336,976
-1.1

1.2 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
16 06/22
358,930

0.2 2.6
32%
0%
0%
0%
0%
0%
68%
0%
0%
0%
0%
0%
32%
17 04/22
192,256

0.0 0.2
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
18 04/22
174,996
-1.4

1.2 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
19 04/22
173,795
-1.8

1.0 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
20 04/22
172,904
-2.5

2.1 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
21 04/22
165,596
-3.1

0.55 2.0

2.0 -1.9

1.8 0.0
82%
0%
0%
0%
0%
0%
0%
0%
11%
0%
7%
0%
100%
22 04/22
159,400
-0.8

0.6 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
23 04/22
150,572
-1.5

0.9 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
24 05/22
149,956
-4.7

1.30 2.9

3.0 -2.7

2.7 -0.1
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
25 04/22
146,905
-4.6

0.97 3.4

3.5 -3.2

3.2 0.0
58%
0%
0%
0%
0%
0%
0%
0%
17%
18%
7%
0%
99%
Avg
241,123
-2.7

0.90 1.8

2.0 -2.1

2.1 0.0
80%
0%
0%
0%
0%
0%
3%
0%
9%
5%
2%
2%
97%
Port
06/22
275,907
-2.7

1.11 1.6

1.6 1.6

0.0 0.0
-1.5

1.5 0.0
59%
0%
0%
0%
0%
0%
0%
0%
0%
4%
0%
36%
100%
Diff
34,784

0.0 0.21
-0.3
-0.5

0.6 -0.6

0.0 -21%
0%
0%
0%
0%
0%
-3%
0%
-9%
0%
-1%
35%
3%
* Peer group includes Public Entitys that have received portfolio analysis from Stifel in the last three months with the closest portfolio book values.

City of Palmdale: Flagship Lite - Palmdale, CA

Page 7 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Monthly Cashflow Profile - Next 30 Months
City of Palmdale: Flagship Lite - Palmdale, CA

Page 8 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Monthly Cashflow Rate Shock - Next 30 Months
City of Palmdale: Flagship Lite - Palmdale, CA

Page 9 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Annual Cashflow Profile
City of Palmdale: Flagship Lite - Palmdale, CA

Page 10 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Annual Cashflow Rate Shock
City of Palmdale: Flagship Lite - Palmdale, CA

Page 11 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

5-Year Quarterly Principal Cash Flow Projections
5-Year Quarterly Principal Cash Flow Projections
Percentage of Total Cash Flow Projections
Period
+100
+50
+25
Base
-25
-50
+100
+50
+25
Base
-25
-50
3Q22
100.3
101.3
101.3
101.3
101.3
101.3
36%
37%
37%
37%
37%
37%
4Q22

5.5 5.5

5.5 5.5
38%
39%
39%
39%
39%
39%
1Q23

2.0 1.0

1.0 1.0

1.0 1.0
39%
39%
39%
39%
39%
39%
2Q23

15.9 15.9

15.9 15.9
45%
45%
45%
45%
45%
45%
3Q23

0.0 0.0

0.0 0.0
45%
45%
45%
45%
45%
45%
4Q23

29.0 29.0

29.0 29.0
55%
55%
55%
55%
55%
55%
1Q24

0.0 0.0

0.0 0.0
55%
55%
55%
55%
55%
55%
2Q24

10.0 10.0

10.0 10.0
59%
59%
59%
59%
59%
59%
3Q24

4.0 4.0

4.0 4.0
60%
60%
60%
60%
60%
60%
4Q24

31.8 31.8

31.8 31.8
72%
72%
72%
72%
72%
72%
1Q25

7.0 7.0

7.0 7.0
74%
74%
74%
74%
74%
74%
2Q25

20.0 20.0

20.0 20.0
82%
82%
82%
82%
82%
82%
3Q25

18.3 18.3

18.3 18.3
88%
88%
88%
88%
88%
88%
4Q25

15.2 15.2

15.2 15.2
94%
94%
94%
94%
94%
94%
1Q26

3.0 3.0

3.0 3.0
95%
95%
95%
95%
95%
95%
2Q26

4.0 4.0

4.0 4.0
96%
96%
96%
96%
96%
96%
3Q26

0.0 0.0

0.0 0.0
96%
96%
96%
96%
96%
96%
4Q26

5.0 5.0

5.0 5.0
98%
98%
98%
98%
98%
98%
1Q27

5.0 5.0

5.0 5.0
100%
100%
100%
100%
100%
100%
In Millions
12-Month Principal Cash Flow Projections
Percentage of Total Cash Flow Projections
Period
+100
+50
+25
Base
-25
-50
+100
+50
+25
Base
-25
-50
Jul 22
100.3
100.3
100.3
100.3
100.3
100.3
36%
36%
36%
36%
36%
36%
Aug 22

0.0 0.0

0.0 0.0
36%
36%
36%
36%
36%
36%
Sep 22

0.0 1.0

1.0 1.0

1.0 1.0
36%
37%
37%
37%
37%
37%
Oct 22

0.0 1.5

1.5 1.5

1.5 1.5
36%
37%
37%
37%
37%
37%
Nov 22

1.0 0.0

0.0 0.0

0.0 0.0
37%
37%
37%
37%
37%
37%
Dec 22

4.5 4.0

4.0 4.0

4.0 4.0
38%
39%
39%
39%
39%
39%
Jan 23

1.0 1.0

1.0 1.0
39%
39%
39%
39%
39%
39%
Feb 23

1.0 0.0

0.0 0.0

0.0 0.0
39%
39%
39%
39%
39%
39%
Mar 23

0.0 0.0

0.0 0.0
39%
39%
39%
39%
39%
39%
Apr 23

5.0 5.0

5.0 5.0
41%
41%
41%
41%
41%
41%
May 23

5.9 5.9

5.9 5.9
43%
43%
43%
43%
43%
43%
Jun 23

5.0 5.0

5.0 5.0
45%
45%
45%
45%
45%
45%
City of Palmdale: Flagship Lite - Palmdale, CA

Page 12 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Cash Flow and Yield Rolloff - Next 12 Months
Yield Rolloff
Month
Begin BY
Principal CF
Rolloff Yld
Ending BY
Jul 2022

1.11 100,327

0.78 1.30
Aug 2022

1.30 0

0.00 1.30
Sep 2022

1.30 1,000

2.65 1.29
Oct 2022

1.29 1,500

2.80 1.28
Nov 2022

1.28 0

0.00 1.28
Dec 2022

1.28 4,000

2.21 1.25
Jan 2023

1.25 1,000

2.73 1.25
Feb 2023

1.25 0

0.00 1.25
Mar 2023

1.25 0

0.00 1.25
Apr 2023

1.25 5,000

1.57 1.24
May 2023

1.24 5,870

2.25 1.20
Jun 2023

1.20 5,000

2.12 1.17
Shocked Principal and Interest Cash Flow Analysis
Year
Mod Up Stp
+100
+50
+25
-25
-50
Mod Dn Flt
Jul 2022
100,455
100,455
100,455
100,455
100,455
100,455
100,455
Aug 2022
70 70
70 70
70 70
70 Sep 2022
1,097
88 1,097
1,097
1,097
1,097
1,097
Oct 2022
1,649
135
1,649
1,649
1,649
1,649
1,649
Nov 2022
78 78
78 78
78 78
78 Dec 2022
3,673
3,673
4,683
4,683
4,683
4,683
4,683
Jan 2023
1,058
49 1,058
1,058
1,058
1,058
1,058
Feb 2023
70 70
70 70
70 70
70 Mar 2023
74 74
74 74
74 74
74 Apr 2023
5,134
5,134
5,134
5,134
5,134
5,134
5,134
May 2023
5,948
5,948
5,948
5,948
5,948
5,948
5,948
Jun 2023
5,637
5,637
5,637
5,637
5,637
5,637
5,637
City of Palmdale: Flagship Lite - Palmdale, CA

Page 13 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Sector Cash Flow and Yield Rolloff - Next 12 Months
Jul 22
Aug 22
Sep 22
Oct 22
Nov 22
Dec 22
Jan 23
Feb 23
Mar 23
Apr 23
May 23
Jun 23
Bk Yld Chg
Treasury/Agency
Cash Flow
48 70
74 95
54 3,673
48 70
74 95
2,869
5,637
End BY

1.24 1.24

1.24 1.22

1.22 1.22

1.20 1.17
-0.07
Corporate
Cash Flow
12 0
1,022
1,553
12 1,010
1,009
0 0
5,039
2,087
0 End BY

1.92 1.92

1.85 1.69

1.69 1.60

1.44 1.44

1.44 1.14

0.00 0.00
-1.92
CD
Cash Flow
1 1
1 1
12 1
1 1
1 1
992
0 End BY

3.14 3.14

0.00 0.00
-3.14
Other
Cash Flow
100,394
0 0
0 0
0 0
0 0
0 0
0 End BY

0.00 0.00

0.00 Total
Cash Flow
100,455
70 1,097
1,649
78 4,683
1,058
70 74
5,134
5,948
5,637
End BY

1.30 1.30

1.29 1.28

1.28 1.25

1.25 1.25

1.25 1.24

1.20 1.17
-0.13
City of Palmdale: Flagship Lite - Palmdale, CA

Page 14 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Cash Flow and Yield Rolloff - Next 3 Years
Yield Rolloff
Quarter
Begin BY
Principal CF
Rolloff Yld
Ending BY
3Q22

1.11 101,327

0.80 1.29
4Q22

1.29 5,500

2.37 1.25
1Q23

1.25 1,000

2.73 1.25
2Q23

1.25 15,870

1.99 1.17
3Q23

1.17 0

0.00 1.17
4Q23

1.17 29,000

1.22 1.15
1Q24

1.15 0

0.00 1.15
2Q24

1.15 10,000

1.31 1.14
3Q24

1.14 4,000

0.41 1.17
4Q24

1.17 31,750

1.09 1.20
1Q25

1.20 7,000

1.05 1.21
2Q25

1.21 20,000

0.96 1.32
Shocked Principal and Interest Cash Flow Analysis
Quarter
Mod Up Stp
+100
+50
+25
-25
-50
Mod Dn Flt
3Q22
101,622
100,613
101,622
101,622
101,622
101,622
101,622
4Q22
5,401
3,887
6,411
6,411
6,411
6,411
6,411
1Q23
1,203
194
1,203
1,203
1,203
1,203
1,203
2Q23
16,719
16,719
16,719
16,719
16,719
16,719
16,719
3Q23
192
192
192
192
192
192
192
4Q23
29,698
29,698
29,698
29,698
29,698
29,698
29,698
1Q24
192
192
192
192
192
192
192
2Q24
10,519
10,519
10,519
10,519
10,519
10,519
10,519
3Q24
4,194
4,194
4,194
4,194
4,194
4,194
4,194
4Q24
32,198
32,198
32,198
32,198
32,198
32,198
32,198
1Q25
7,187
7,187
7,187
7,187
7,187
7,187
7,187
2Q25
20,278
20,278
20,278
20,278
20,278
20,278
20,278
City of Palmdale: Flagship Lite - Palmdale, CA

Page 15 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Sector Cash Flow and Yield Rolloff - Next 3 Years
3Q22
4Q22
1Q23
2Q23
3Q23
4Q23
1Q24
2Q24
3Q24
4Q24
1Q25
2Q25
Bk Yld Chg
Treasury/Agency
Cash Flow
192
3,822
192
8,600
192
29,698
192
10,519
4,194
32,198
7,187
20,278
End BY

1.24 1.22

1.22 1.17

1.17 1.15

1.15 1.14

1.17 1.20

1.21 1.32

0.08 Corporate
Cash Flow
1,034
2,575
1,009
7,126
0 0
0 0
0 0
0 0
End BY

1.85 1.60

1.44 0.00

0.00 0.00

0.00 0.00
-1.85
CD
Cash Flow
2 14
2 993
0 0
0 0
0 0
0 0
End BY

3.14 3.14

3.14 0.00

0.00 0.00

0.00 0.00
-3.14
Other
Cash Flow
100,394
0 0
0 0
0 0
0 0
0 0
0 End BY

0.00 0.00

0.00 Total
Cash Flow
101,622
6,411
1,203
16,719
192
29,698
192
10,519
4,194
32,198
7,187
20,278
End BY

1.29 1.25

1.25 1.17

1.17 1.15

1.15 1.14

1.17 1.20

1.21 1.32

0.03 City of Palmdale: Flagship Lite - Palmdale, CA

Page 16 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Cash Flow and Yield Rolloff - Next 10 Years
Yield Rolloff
Year
Begin BY
Principal CF
Rolloff Yld
Ending BY
2022

1.11 106,827

0.88 1.25
2023

1.25 45,870

1.52 1.15
2024

1.15 45,750

1.08 1.20
2025

1.20 60,460

1.16 1.33
2026

1.33 12,000

1.51 0.90
2027

0.90 5,000

0.90 2028
2029
2030
2031
Shocked Principal and Interest Cash Flow Analysis
Year
Mod Up Stp
+100
+50
+25
-25
-50
Mod Dn Flt
2022
107,023
107,034
108,033
108,033
108,033
108,033
108,033
2023
48,823
48,826
47,811
47,811
47,811
47,811
47,811
2024
47,103
47,103
47,103
47,103
47,103
47,103
47,103
2025
61,257
61,257
61,257
61,257
61,257
61,257
61,257
2026
12,168
12,168
12,168
12,168
12,168
12,168
12,168
2027
5,023
5,023
5,023
5,023
5,023
5,023
5,023
City of Palmdale: Flagship Lite - Palmdale, CA

Page 17 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Sector Cash Flow and Yield Rolloff - Next 10 Years
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
Bk Yld Chg
Treasury/Agency
Cash Flow
4,014
38,682
47,103
61,257
12,168
5,023
0 0
0 0
End BY

1.24 1.22

1.15 1.20

1.33 0.90

0.00 0.00

0.00 0.00
-1.24
Corporate
Cash Flow
3,610
8,135
0 0
0 0
0 0
0 0
End BY

1.92 1.60

0.00 0.00

0.00 0.00
-1.92
CD
Cash Flow
15 995
0 0
0 0
0 0
0 0
End BY

3.14 3.14

0.00 0.00

0.00 0.00
-3.14
Other
Cash Flow
100,394
0 0
0 0
0 0
0 0
0 End BY

0.78 0.00

0.00 0.00

0.00 0.00
-0.78
Total
Cash Flow
108,033
47,811
47,103
61,257
12,168
5,023
0 0
0 0
End BY

0.00 1.25

1.15 1.20

1.33 0.90

0.00 0.00

0.00 City of Palmdale: Flagship Lite - Palmdale, CA

Page 18 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Effective Duration - Instantaneous Rate Shock
City of Palmdale: Flagship Lite - Palmdale, CA

Page 19 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

% Px Chng - Instantaneous Rate Shock
City of Palmdale: Flagship Lite - Palmdale, CA

Page 20 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Total Returns - 12mo Horizon
City of Palmdale: Flagship Lite - Palmdale, CA

Page 21 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Book Yield / Duration
*Only securities >=$1mm shown
City of Palmdale: Flagship Lite - Palmdale, CA

Page 22 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Market Yield / Duration
*Only securities >=$1mm shown
City of Palmdale: Flagship Lite - Palmdale, CA

Page 23 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Total Return / Duration
*Only securities >=$1mm shown
City of Palmdale: Flagship Lite - Palmdale, CA

Page 24 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

OAS / Duration
*Only securities >=$1mm shown
City of Palmdale: Flagship Lite - Palmdale, CA

Page 25 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Agency/Sovereign Option - Adjusted Analysis
Bond
Security
Original
Next
Proj.

Par
Book
Mkt
Est.

Book
Market
Eff
Eff
ID #
CUSIP
Description
Structure
Call Date
Redemp
Value
Price
Price
G/L
YTP
YTM
YTC
YTP
YTM
YTC
TOAS
Dur
Conv
7 912828N30
T 2 1/8 12/31/22
7Yr Bullet
12/31/22
3,000
100.00

99.78 -7

2.14 2.14

2.14 2.59

2.59 2.59

6.6 0.49

0.00 16
9128284S6
T 2 3/4 05/31/23
5Yr Bullet
05/31/23
2,815
100.00

99.86 -4

2.75 2.75

2.75 2.91

2.91 2.91

8.6 0.90

0.01 17
3133EKPT7
FFCB 2 1/8 06/05/23
4Yr Bullet
06/05/23
5,000
100.00

99.33 -34

2.12 2.12

2.12 2.86

2.86 2.86

3.3 0.91

0.01 18
91282CBA8
T 0 1/8 12/15/23
3Yr Bullet
12/15/23
5,000
100.00

96.00 -200

0.12 0.12

0.12 2.95

2.95 2.95
-1.5

1.44 0.03
19 91282CBA8
T 0 1/8 12/15/23
3Yr Bullet
12/15/23
10,000
100.00

96.00 -400

0.12 0.12

0.12 2.95

2.95 2.95
-1.5

1.44 0.03
20 9128285U0
T 2 5/8 12/31/23
5Yr Bullet
12/31/23
5,000
100.00

99.53 -24

2.63 2.63

2.63 2.95

2.95 2.95
-1.6

1.46 0.03
21 912828V23
T 2 1/4 12/31/23
7Yr Bullet
12/31/23
4,000
100.00

98.95 -42

2.26 2.26

2.26 2.98

2.98 2.98

0.5 1.46

0.03 22
912828V23
T 2 1/4 12/31/23
7Yr Bullet
12/31/23
5,000
100.00

98.95 -53

2.26 2.26

2.26 2.98

2.98 2.98

0.5 1.46

0.03 23
9128286R6
T 2 1/4 04/30/24
5Yr Bullet
04/30/24
5,000
100.00

98.75 -63

2.25 2.25

2.25 2.96

2.96 2.96
-6.4

1.77 0.04
24 3133EL2X1
FFCB 0.42 05/06/24

3.75YrNC3mo Amer
07/14/22
05/06/24
2,000
100.00

95.39 -92

0.42 0.42

0.42 3.00

3.00 474.0
2 -2.8

1.81 0.01
25 3130AMQR6
FHLB 0.35 06/07/24
3YrNC1Yr Berm
09/07/22
06/07/24
3,000
100.00

95.02 -149

0.35 0.35

0.35 3.02

3.02 29.81
-2.4

1.90 0.02
26 3130AMHH8
FHLB 0.41 08/01/24

3.25YrNC3mo Berm
09/01/22
08/01/24
4,000
100.00

94.76 -210

0.41 0.41

0.41 3.02

3.02 34.89
-3.7

2.04 0.01
27 3134GWNG7
FHLMC 0 1/2 11/27/24

4.25YrNC1Yr Berm
08/27/22
11/27/24
2,000
100.00

94.13 -117

0.50 0.50

0.50 3.05

3.05 42.62
-3.7

2.34 0.02
28 3130AQDY6
FHLB 1 12/30/24
3YrNC6mo Amer
07/14/22
12/30/24
6,750
100.00

95.08 -332

1.00 1.00

1.00 3.06

3.06 535.5
7 -4.3

2.38 0.09
29 91282CDN8
T 1 12/15/24
3Yr Bullet
12/15/24
5,000
100.00

95.30 -235

1.00 1.00

1.00 3.00

3.00 3.00
-8.2

2.40 0.07
30 91282CDN8
T 1 12/15/24
3Yr Bullet
12/15/24
10,000
100.00

95.30 -470

1.00 1.00

1.00 3.00

3.00 3.00
-8.2

2.40 0.07
31 91282CDN8
T 1 12/15/24
3Yr Bullet
12/15/24
5,000
100.00

95.30 -235

1.00 1.00

1.00 3.00

3.00 3.00
-8.2

2.40 0.07
32 3130AQEA7
FHLB 1.05 01/14/25
3YrNC3mo Berm
10/14/22
01/14/25
7,000
100.00

95.09 -344

1.05 1.05

1.05 3.08

3.08 182.8
5 -3.2

2.40 -0.05
33 9128283P3
T 2 1/4 12/31/24
7Yr Bullet
12/31/24
3,000
100.00

98.22 -53

2.25 2.25

2.25 3.00

3.00 3.00
-8.5

2.41 0.07
34 3133EMUP5
FFCB 0.71 04/01/25
4YrNC1Yr Amer
07/14/22
04/01/25
5,000
100.00

93.82 -309

0.71 0.71

0.71 3.07

3.07 832.0
1 -4.2

2.65 0.01
35 3133ENHW3
FFCB 1.17 06/23/25

3.5YrNC3mo Amer
07/14/22
06/23/25
10,000
100.00

94.54 -546

1.17 1.17

1.17 3.10

3.10 652.0
2 -3.9

2.79 0.10
36 3133ELK37
FFCB 0.78 06/16/25
5YrNC1Yr Amer
07/14/22
06/16/25
5,000
100.00

93.54 -323

0.78 0.78

0.78 3.08

3.08 917.5
6 -4.5

2.84 -0.01
37 3136G4ZP1
FNMA 0.65 07/30/25
5YrNC1Yr Berm
07/30/22
07/30/25
3,500
100.00

92.83 -251

0.65 0.65

0.65 3.11

3.11 113.16
-1.8

2.97 0.11
38 3133EJYM5
FFCB 3.02 09/04/25
7Yr Bullet
09/04/25
2,000
100.00

99.84 -3

3.02 3.02

3.02 3.07

3.07 3.07
-4.5

2.98 0.11
39 3133EJYM5
FFCB 3.02 09/04/25
7Yr Bullet
09/04/25
1,000
100.00

99.84 -2

3.02 3.02

3.02 3.07

3.07 3.07
-4.5

2.98 0.11
40 3133EL3P7
FFCB 0.53 08/12/25
5YrNC2Yr Amer
08/12/22
08/12/25
1,810
100.00

92.48 -136

0.53 0.53

0.53 3.08

3.08 80.14
-4.6

3.02 0.06
41 3134GWUG9
FHLMC 0.57 09/24/25
5YrNC1Yr Berm
09/24/22
09/24/25
10,000
100.00

92.33 -767

0.57 0.57

0.57 3.08

3.08 37.91
-4.9

3.13 0.09
42 3134GXBM5
FHLMC 0.6 11/12/25
5YrNC1Yr Berm
08/12/22
11/12/25
1,150
100.00

92.11 -91

0.60 0.60

0.60 3.09

3.09 85.22
-4.9

3.25 0.09
43 3135G06G3
FNMA 0 1/2 11/07/25
5Yr Bullet
11/07/25
3,000
100.00

91.90 -243

0.50 0.50

0.50 3.06

3.06 3.06
-6.6

3.28 0.12
44 9128285T3
T 2 5/8 12/31/25
7Yr Bullet
12/31/25
5,000
100.00

98.72 -64

2.63 2.63

2.63 3.01

3.01 3.01
-11.2

3.32 0.13
45 9128285T3
T 2 5/8 12/31/25
7Yr Bullet
12/31/25
3,000
100.00

98.72 -38

2.63 2.63

2.63 3.01

3.01 3.01
-11.2

3.32 0.13
46 3130AMRQ7
FHLB 0 7/8 12/30/25

4.5YrNC3mo Berm
09/30/22
12/30/25
3,000
100.00

92.69 -219

0.87 0.87

0.88 3.09

3.09 33.81
-4.9

3.33 0.02
47 9128286F2
T 2 1/2 02/28/26
7Yr Bullet
02/28/26
3,000
100.00

98.19 -54

2.50 2.50

2.50 3.02

3.02 3.02
-10.0

3.44 0.14
48 3130AN5C0
FHLB 1.05 04/29/26

4.75YrNC3mo Berm
07/29/22
04/29/26
4,000
100.00

92.60 -296

1.05 1.05

1.05 3.11

3.11 123.7
2 -4.4

3.58 -0.14
49 3133ENJC5
FFCB 1.29 12/22/26
5YrNC2Yr Amer
12/22/23
12/22/26
5,000
100.00

92.21 -390

1.29 1.29

1.29 3.17

3.17 6.93
-1.4

4.08 -0.16
50 3130AL5A8
FHLB 0.9 02/26/27
6YrNC3mo Berm
08/26/22
02/26/27
5,000
100.00

90.26 -487

0.90 0.90

0.90 3.17

3.17 78.97

0.1 4.38
-0.02
City of Palmdale: Flagship Lite - Palmdale, CA

Page 26 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Agency/Sovereign Option - Adjusted Analysis
Bond
Security
Original
Next
Proj.

Par
Book
Mkt
Est.

Book
Market
Eff
Eff
ID #
CUSIP
Description
Structure
Call Date
Redemp
Value
Price
Price
G/L
YTP
YTM
YTC
YTP
YTM
YTC
TOAS
Dur
Conv
163,025
100.00

95.53 -7,281

1.24 1.24

1.24 3.02

3.02 143.4
5 -3.8

2.43 0.04
City of Palmdale: Flagship Lite - Palmdale, CA

Page 27 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Corporate Bond Option - Adjusted Analysis
Bond
Security
Maturity
Opt
Cpn
Industry
Par
Book
Mkt
Book
Market
Eff
Eff
ID #
CUSIP
Description
Ticker
Cpn
Date
Call
Type
Sector
Mdy
S&P
Value
Price
Price
Yield
Yield
WAL
TOAS
Dur
Conv
5 594918BH6
MSFT 2.65 11/03/22
MSFT

2.65 11/03/22
Y
Fixed
Industrial
Aaa
AAA
1,000
100.00

99.99 2.65

2.71 0.18

46.2 0.31
-0.08
6 92826CAC6
V 2.8 12/14/22
V

2.80 12/14/22
Y
Fixed
Finance
Aa3
AA-
1,500
100.00
100.09

2.80 2.49

0.29 13.9

0.42 -0.07
8 037833DE7
AAPL 2.4 01/13/23
AAPL

2.40 01/13/23
Y
Fixed
Industrial
Aaa
AA+
1,000
100.00

99.66 2.40

3.16 0.45

46.1 0.52
-0.02
9 30231GAR3
XOM 2.726 03/01/23
XOM

2.73 03/01/23
Y
Fixed
Industrial
Aa2
AA-
1,000
100.00

99.88 2.73

2.97 0.50

17.5 0.60
-0.07
10 30231GBL5
XOM 1.571 04/15/23
XOM

1.57 04/15/23
N
Fixed
Industrial
Aa2
AA-
5,000
100.00

99.00 1.57

2.86 0.79

9.8 0.78

0.01 14
166764BV1
CVX 1.141 05/11/23
CVX

1.14 05/11/23
N
Fixed
Industrial
Aa2
AA-
2,075
100.00

98.28 1.14

3.17 0.86

37.4 0.85

0.01 1.92
11,575
100.00

99.23 1.92

2.89 0.63

22.2 0.66
-0.02
City of Palmdale: Flagship Lite - Palmdale, CA

Page 28 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

CD Option - Adjusted Analysis
Bond
Security
Maturity
Opt
Cpn
Industry
Par
Book
Mkt
Book
Market
Eff
Eff
ID #
CUSIP
Description
Ticker
Cpn
Date
Call
Type
Sector
Value
Price
Price
Yield
Yield
WAL
TOAS
Dur
Conv
11 61747MX30
MS 3.15 05/10/23
MS

3.15 05/10/23
N
Fixed
NCD
245
100.00
100.16

3.14 2.95

0.86 16.4

0.84 0.01
12 17312QL23
C 3.15 05/11/23
C

3.15 05/11/23
N
Fixed
NCD
245
100.00
100.16

3.14 2.96

0.86 16.4

0.84 0.01
13 87164WWF1
SYF 3.15 05/11/23
SYF

3.15 05/11/23
N
Fixed
NCD
245
100.00
100.16

3.14 2.96

0.86 16.4

0.84 0.01
15 20033AYE0
ADS 3.1 05/15/23
ADS

3.10 05/15/23
N
Fixed
NCD
245
100.00
100.08

3.12 3.02

0.88 22.5

0.85 0.01

3.14 980
100.00
100.14

3.14 2.97

0.87 17.9

0.84 0.01
City of Palmdale: Flagship Lite - Palmdale, CA

Page 29 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Book Yield Table - Instantaneous Rate Shock
Projected Call Date - Instantaneous Rate Shock
Book Yield Table - Instantaneous Rate Shock
Bond
Security
Original
Par
Book
ID #
CUSIP
Description
Structure
Value
Price
+100
+50
+25
Base
-25
-50
+100
+50
+25
Base
-25
-50
1 PLMDLLAIF
LAIF
45,118
100.00
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22

0.78 0.78

0.78 0.78
2 PLMDLCAMP
CAMP
249
100.00
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22

0.30 0.30

0.30 0.30
3 PLMDLLAIF
LAIF
17,724
100.00
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22

0.78 0.78

0.78 0.78
4 PLMDLLAIF
LAIF
37,234
100.00
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22

0.78 0.78

0.78 0.78
5 594918BH6
MSFT 2.65 11/03/22
7YrNC6.8Yr Amer
1,000
100.00
11/3/22
9/3/22
9/3/22
9/3/22
9/3/22
9/3/22

2.64 2.65

2.65 2.65

2.65 2.65
6 92826CAC6
V 2.8 12/14/22
7YrNC6.8Yr Amer
1,500
100.00
12/14/22
10/14/22
10/14/22
10/14/22
10/14/22
10/14/22

2.80 2.80

2.80 2.80
7 912828N30
T 2 1/8 12/31/22
7Yr Bullet
3,000
100.00
12/31/22
12/31/22
12/31/22
12/31/22
12/31/22
12/31/22

2.14 2.14

2.14 2.14
8 037833DE7
AAPL 2.4 01/13/23

5.25YrNC5.1Yr Amer
1,000
100.00
1/13/23
12/13/22
12/13/22
12/13/22
12/13/22
12/13/22

2.40 2.40

2.40 2.40
9 30231GAR3
XOM 2.726 03/01/23
7YrNC6.8Yr Amer
1,000
100.00
2/1/23
1/1/23
1/1/23
1/1/23
1/1/23
1/1/23

2.72 2.73

2.73 2.73

2.73 2.73
10 30231GBL5
XOM 1.571 04/15/23
3YrNC1mo
5,000
100.00
4/15/23
4/15/23
4/15/23
4/15/23
4/15/23
4/15/23

1.57 1.57

1.57 1.57
11 61747MX30
MS 3.15 05/10/23
5Yr Bullet
245
100.00
5/10/23
5/10/23
5/10/23
5/10/23
5/10/23
5/10/23

3.14 3.14

3.14 3.14
12 17312QL23
C 3.15 05/11/23
5Yr Bullet
245
100.00
5/11/23
5/11/23
5/11/23
5/11/23
5/11/23
5/11/23

3.14 3.14

3.14 3.14
13 87164WWF1
SYF 3.15 05/11/23
5Yr Bullet
245
100.00
5/11/23
5/11/23
5/11/23
5/11/23
5/11/23
5/11/23

3.14 3.14

3.14 3.14
14 166764BV1
CVX 1.141 05/11/23
3YrNC1mo
2,075
100.00
5/11/23
5/11/23
5/11/23
5/11/23
5/11/23
5/11/23

1.14 1.14

1.14 1.14
15 20033AYE0
ADS 3.1 05/15/23
5Yr Bullet
245
100.00
5/15/23
5/15/23
5/15/23
5/15/23
5/15/23
5/15/23

3.12 3.12

3.12 3.12
16 9128284S6
T 2 3/4 05/31/23
5Yr Bullet
2,815
100.00
5/31/23
5/31/23
5/31/23
5/31/23
5/31/23
5/31/23

2.75 2.75

2.75 2.75
17 3133EKPT7
FFCB 2 1/8 06/05/23
4Yr Bullet
5,000
100.00
6/5/23
6/5/23
6/5/23
6/5/23
6/5/23
6/5/23

2.12 2.12

2.12 2.12
18 91282CBA8
T 0 1/8 12/15/23
3Yr Bullet
5,000
100.00
12/15/23
12/15/23
12/15/23
12/15/23
12/15/23
12/15/23

0.12 0.12

0.12 0.12
19 91282CBA8
T 0 1/8 12/15/23
3Yr Bullet
10,000
100.00
12/15/23
12/15/23
12/15/23
12/15/23
12/15/23
12/15/23

0.12 0.12

0.12 0.12
20 9128285U0
T 2 5/8 12/31/23
5Yr Bullet
5,000
100.00
12/31/23
12/31/23
12/31/23
12/31/23
12/31/23
12/31/23

2.63 2.63

2.63 2.63
21 912828V23
T 2 1/4 12/31/23
7Yr Bullet
4,000
100.00
12/31/23
12/31/23
12/31/23
12/31/23
12/31/23
12/31/23

2.26 2.26

2.26 2.26
22 912828V23
T 2 1/4 12/31/23
7Yr Bullet
5,000
100.00
12/31/23
12/31/23
12/31/23
12/31/23
12/31/23
12/31/23

2.26 2.26

2.26 2.26
23 9128286R6
T 2 1/4 04/30/24
5Yr Bullet
5,000
100.00
4/30/24
4/30/24
4/30/24
4/30/24
4/30/24
4/30/24

2.25 2.25

2.25 2.25
24 3133EL2X1
FFCB 0.42 05/06/24

3.75YrNC3mo Amer
2,000
100.00
5/6/24
5/6/24
5/6/24
5/6/24
5/6/24
5/6/24

0.42 0.42

0.42 0.42
25 3130AMQR6
FHLB 0.35 06/07/24
3YrNC1Yr Berm
3,000
100.00
6/7/24
6/7/24
6/7/24
6/7/24
6/7/24
6/7/24

0.35 0.35

0.35 0.35
26 3130AMHH8
FHLB 0.41 08/01/24

3.25YrNC3mo Berm
4,000
100.00
8/1/24
8/1/24
8/1/24
8/1/24
8/1/24
8/1/24

0.41 0.41

0.41 0.41
27 3134GWNG7
FHLMC 0 1/2 11/27/24

4.25YrNC1Yr Berm
2,000
100.00
11/27/24
11/27/24
11/27/24
11/27/24
11/27/24
11/27/24

0.50 0.50

0.50 0.50
28 3130AQDY6
FHLB 1 12/30/24
3YrNC6mo Amer
6,750
100.00
12/30/24
12/30/24
12/30/24
12/30/24
12/30/24
12/30/24

1.00 1.00

1.00 1.00
29 91282CDN8
T 1 12/15/24
3Yr Bullet
5,000
100.00
12/15/24
12/15/24
12/15/24
12/15/24
12/15/24
12/15/24

1.00 1.00

1.00 1.00
30 91282CDN8
T 1 12/15/24
3Yr Bullet
10,000
100.00
12/15/24
12/15/24
12/15/24
12/15/24
12/15/24
12/15/24

1.00 1.00

1.00 1.00
31 91282CDN8
T 1 12/15/24
3Yr Bullet
5,000
100.00
12/15/24
12/15/24
12/15/24
12/15/24
12/15/24
12/15/24

1.00 1.00

1.00 1.00
32 3130AQEA7
FHLB 1.05 01/14/25
3YrNC3mo Berm
7,000
100.00
1/14/25
1/14/25
1/14/25
1/14/25
1/14/25
1/14/25

1.05 1.05

1.05 1.05
33 9128283P3
T 2 1/4 12/31/24
7Yr Bullet
3,000
100.00
12/31/24
12/31/24
12/31/24
12/31/24
12/31/24
12/31/24

2.25 2.25

2.25 2.25
City of Palmdale: Flagship Lite - Palmdale, CA

Page 30 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Book Yield Table - Instantaneous Rate Shock
Projected Call Date - Instantaneous Rate Shock
Book Yield Table - Instantaneous Rate Shock
Bond
Security
Original
Par
Book
ID #
CUSIP
Description
Structure
Value
Price
+100
+50
+25
Base
-25
-50
+100
+50
+25
Base
-25
-50
34 3133EMUP5
FFCB 0.71 04/01/25
4YrNC1Yr Amer
5,000
100.00
4/1/25
4/1/25
4/1/25
4/1/25
4/1/25
4/1/25

0.71 0.71

0.71 0.71
35 3133ENHW3
FFCB 1.17 06/23/25

3.5YrNC3mo Amer
10,000
100.00
6/23/25
6/23/25
6/23/25
6/23/25
6/23/25
6/23/25

1.17 1.17

1.17 1.17
36 3133ELK37
FFCB 0.78 06/16/25
5YrNC1Yr Amer
5,000
100.00
6/16/25
6/16/25
6/16/25
6/16/25
6/16/25
6/16/25

0.78 0.78

0.78 0.78
37 3136G4ZP1
FNMA 0.65 07/30/25
5YrNC1Yr Berm
3,500
100.00
7/30/25
7/30/25
7/30/25
7/30/25
7/30/25
7/30/25

0.65 0.65

0.65 0.65
38 3133EJYM5
FFCB 3.02 09/04/25
7Yr Bullet
2,000
100.00
9/4/25
9/4/25
9/4/25
9/4/25
9/4/25
9/4/25

3.02 3.02

3.02 3.02
39 3133EJYM5
FFCB 3.02 09/04/25
7Yr Bullet
1,000
100.00
9/4/25
9/4/25
9/4/25
9/4/25
9/4/25
9/4/25

3.02 3.02

3.02 3.02
40 3133EL3P7
FFCB 0.53 08/12/25
5YrNC2Yr Amer
1,810
100.00
8/12/25
8/12/25
8/12/25
8/12/25
8/12/25
8/12/25

0.53 0.53

0.53 0.53
41 3134GWUG9
FHLMC 0.57 09/24/25
5YrNC1Yr Berm
10,000
100.00
9/24/25
9/24/25
9/24/25
9/24/25
9/24/25
9/24/25

0.57 0.57

0.57 0.57
42 3134GXBM5
FHLMC 0.6 11/12/25
5YrNC1Yr Berm
1,150
100.00
11/12/25
11/12/25
11/12/25
11/12/25
11/12/25
11/12/25

0.60 0.60

0.60 0.60
43 3135G06G3
FNMA 0 1/2 11/07/25
5Yr Bullet
3,000
100.00
11/7/25
11/7/25
11/7/25
11/7/25
11/7/25
11/7/25

0.50 0.50

0.50 0.50
44 9128285T3
T 2 5/8 12/31/25
7Yr Bullet
5,000
100.00
12/31/25
12/31/25
12/31/25
12/31/25
12/31/25
12/31/25

2.63 2.63

2.63 2.63
45 9128285T3
T 2 5/8 12/31/25
7Yr Bullet
3,000
100.00
12/31/25
12/31/25
12/31/25
12/31/25
12/31/25
12/31/25

2.63 2.63

2.63 2.63
46 3130AMRQ7
FHLB 0 7/8 12/30/25

4.5YrNC3mo Berm
3,000
100.00
12/30/25
12/30/25
12/30/25
12/30/25
12/30/25
12/30/25

0.87 0.87

0.87 0.87
47 9128286F2
T 2 1/2 02/28/26
7Yr Bullet
3,000
100.00
2/28/26
2/28/26
2/28/26
2/28/26
2/28/26
2/28/26

2.50 2.50

2.50 2.50
48 3130AN5C0
FHLB 1.05 04/29/26

4.75YrNC3mo Berm
4,000
100.00
4/29/26
4/29/26
4/29/26
4/29/26
4/29/26
4/29/26

1.05 1.05

1.05 1.05
49 3133ENJC5
FFCB 1.29 12/22/26
5YrNC2Yr Amer
5,000
100.00
12/22/26
12/22/26
12/22/26
12/22/26
12/22/26
12/22/26

1.29 1.29

1.29 1.29
50 3130AL5A8
FHLB 0.9 02/26/27
6YrNC3mo Berm
5,000
100.00
2/26/27
2/26/27
2/26/27
2/26/27
2/26/27
2/26/27

0.90 0.90

0.90 0.90
275,907
100.00

1.11 1.12

1.12 1.11

1.11 1.11
City of Palmdale: Flagship Lite - Palmdale, CA

Page 31 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Market Yield Table - Instantaneous Rate Shock
Projected Call Date - Instantaneous Rate Shock
Market Yield Table - Instantaneous Rate Shock
Bond
Security
Original
Par
Mkt
ID #
CUSIP
Description
Structure
Value
Price
+100
+50
+25
Base
-25
-50
+100
+50
+25
Base
-25
-50
1 PLMDLLAIF
LAIF
45,118
100.00
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22

0.78 0.78

0.78 0.78
2 PLMDLCAMP
CAMP
249
100.00
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22

0.30 0.30

0.30 0.30
3 PLMDLLAIF
LAIF
17,724
100.00
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22

0.78 0.78

0.78 0.78
4 PLMDLLAIF
LAIF
37,234
100.00
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22

0.78 0.78

0.78 0.78
5 594918BH6
MSFT 2.65 11/03/22
7YrNC6.8Yr Amer
1,000

99.99 11/3/22
9/3/22
9/3/22
9/3/22
9/3/22
9/3/22

2.67 2.71

2.71 2.71

2.71 2.71
6 92826CAC6
V 2.8 12/14/22
7YrNC6.8Yr Amer
1,500
100.09
12/14/22
10/14/22
10/14/22
10/14/22
10/14/22
10/14/22

2.60 2.49

2.49 2.49

2.49 2.49
7 912828N30
T 2 1/8 12/31/22
7Yr Bullet
3,000

99.78 12/31/22
12/31/22
12/31/22
12/31/22
12/31/22
12/31/22

2.59 2.59

2.59 2.59
8 037833DE7
AAPL 2.4 01/13/23

5.25YrNC5.1Yr Amer
1,000

99.66 1/13/23
12/13/22
12/13/22
12/13/22
12/13/22
12/13/22

3.04 3.16

3.16 3.16

3.16 3.16
9 30231GAR3
XOM 2.726 03/01/23
7YrNC6.8Yr Amer
1,000

99.88 2/1/23
1/1/23
1/1/23
1/1/23
1/1/23
1/1/23

2.93 2.97

2.97 2.97

2.97 2.97
10 30231GBL5
XOM 1.571 04/15/23
3YrNC1mo
5,000

99.00 4/15/23
4/15/23
4/15/23
4/15/23
4/15/23
4/15/23

2.86 2.86

2.86 2.86
11 61747MX30
MS 3.15 05/10/23
5Yr Bullet
245
100.16
5/10/23
5/10/23
5/10/23
5/10/23
5/10/23
5/10/23

2.95 2.95

2.95 2.95
12 17312QL23
C 3.15 05/11/23
5Yr Bullet
245
100.16
5/11/23
5/11/23
5/11/23
5/11/23
5/11/23
5/11/23

2.96 2.96

2.96 2.96
13 87164WWF1
SYF 3.15 05/11/23
5Yr Bullet
245
100.16
5/11/23
5/11/23
5/11/23
5/11/23
5/11/23
5/11/23

2.96 2.96

2.96 2.96
14 166764BV1
CVX 1.141 05/11/23
3YrNC1mo
2,075

98.28 5/11/23
5/11/23
5/11/23
5/11/23
5/11/23
5/11/23

3.17 3.17

3.17 3.17
15 20033AYE0
ADS 3.1 05/15/23
5Yr Bullet
245
100.08
5/15/23
5/15/23
5/15/23
5/15/23
5/15/23
5/15/23

3.02 3.02

3.02 3.02
16 9128284S6
T 2 3/4 05/31/23
5Yr Bullet
2,815

99.86 5/31/23
5/31/23
5/31/23
5/31/23
5/31/23
5/31/23

2.91 2.91

2.91 2.91
17 3133EKPT7
FFCB 2 1/8 06/05/23
4Yr Bullet
5,000

99.33 6/5/23
6/5/23
6/5/23
6/5/23
6/5/23
6/5/23

2.86 2.86

2.86 2.86
18 91282CBA8
T 0 1/8 12/15/23
3Yr Bullet
5,000

96.00 12/15/23
12/15/23
12/15/23
12/15/23
12/15/23
12/15/23

2.95 2.95

2.95 2.95
19 91282CBA8
T 0 1/8 12/15/23
3Yr Bullet
10,000

96.00 12/15/23
12/15/23
12/15/23
12/15/23
12/15/23
12/15/23

2.95 2.95

2.95 2.95
20 9128285U0
T 2 5/8 12/31/23
5Yr Bullet
5,000

99.53 12/31/23
12/31/23
12/31/23
12/31/23
12/31/23
12/31/23

2.95 2.95

2.95 2.95
21 912828V23
T 2 1/4 12/31/23
7Yr Bullet
4,000

98.95 12/31/23
12/31/23
12/31/23
12/31/23
12/31/23
12/31/23

2.98 2.98

2.98 2.98
22 912828V23
T 2 1/4 12/31/23
7Yr Bullet
5,000

98.95 12/31/23
12/31/23
12/31/23
12/31/23
12/31/23
12/31/23

2.98 2.98

2.98 2.98
23 9128286R6
T 2 1/4 04/30/24
5Yr Bullet
5,000

98.75 4/30/24
4/30/24
4/30/24
4/30/24
4/30/24
4/30/24

2.96 2.96

2.96 2.96
24 3133EL2X1
FFCB 0.42 05/06/24

3.75YrNC3mo Amer
2,000

95.39 5/6/24
5/6/24
5/6/24
5/6/24
5/6/24
5/6/24

3.00 3.00

3.00 3.00
25 3130AMQR6
FHLB 0.35 06/07/24
3YrNC1Yr Berm
3,000

95.02 6/7/24
6/7/24
6/7/24
6/7/24
6/7/24
6/7/24

3.02 3.02

3.02 3.02
26 3130AMHH8
FHLB 0.41 08/01/24

3.25YrNC3mo Berm
4,000

94.76 8/1/24
8/1/24
8/1/24
8/1/24
8/1/24
8/1/24

3.02 3.02

3.02 3.02
27 3134GWNG7
FHLMC 0 1/2 11/27/24

4.25YrNC1Yr Berm
2,000

94.13 11/27/24
11/27/24
11/27/24
11/27/24
11/27/24
11/27/24

3.05 3.05

3.05 3.05
28 3130AQDY6
FHLB 1 12/30/24
3YrNC6mo Amer
6,750

95.08 12/30/24
12/30/24
12/30/24
12/30/24
12/30/24
12/30/24

3.06 3.06

3.06 3.06
29 91282CDN8
T 1 12/15/24
3Yr Bullet
5,000

95.30 12/15/24
12/15/24
12/15/24
12/15/24
12/15/24
12/15/24

3.00 3.00

3.00 3.00
30 91282CDN8
T 1 12/15/24
3Yr Bullet
10,000

95.30 12/15/24
12/15/24
12/15/24
12/15/24
12/15/24
12/15/24

3.00 3.00

3.00 3.00
31 91282CDN8
T 1 12/15/24
3Yr Bullet
5,000

95.30 12/15/24
12/15/24
12/15/24
12/15/24
12/15/24
12/15/24

3.00 3.00

3.00 3.00
32 3130AQEA7
FHLB 1.05 01/14/25
3YrNC3mo Berm
7,000

95.09 1/14/25
1/14/25
1/14/25
1/14/25
1/14/25
1/14/25

3.08 3.08

3.08 3.08
33 9128283P3
T 2 1/4 12/31/24
7Yr Bullet
3,000

98.22 12/31/24
12/31/24
12/31/24
12/31/24
12/31/24
12/31/24

3.00 3.00

3.00 3.00
City of Palmdale: Flagship Lite - Palmdale, CA

Page 32 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Market Yield Table - Instantaneous Rate Shock
Projected Call Date - Instantaneous Rate Shock
Market Yield Table - Instantaneous Rate Shock
Bond
Security
Original
Par
Mkt
ID #
CUSIP
Description
Structure
Value
Price
+100
+50
+25
Base
-25
-50
+100
+50
+25
Base
-25
-50
34 3133EMUP5
FFCB 0.71 04/01/25
4YrNC1Yr Amer
5,000

93.82 4/1/25
4/1/25
4/1/25
4/1/25
4/1/25
4/1/25

3.07 3.07

3.07 3.07
35 3133ENHW3
FFCB 1.17 06/23/25

3.5YrNC3mo Amer
10,000

94.54 6/23/25
6/23/25
6/23/25
6/23/25
6/23/25
6/23/25

3.10 3.10

3.10 3.10
36 3133ELK37
FFCB 0.78 06/16/25
5YrNC1Yr Amer
5,000

93.54 6/16/25
6/16/25
6/16/25
6/16/25
6/16/25
6/16/25

3.08 3.08

3.08 3.08
37 3136G4ZP1
FNMA 0.65 07/30/25
5YrNC1Yr Berm
3,500

92.83 7/30/25
7/30/25
7/30/25
7/30/25
7/30/25
7/30/25

3.11 3.11

3.11 3.11
38 3133EJYM5
FFCB 3.02 09/04/25
7Yr Bullet
2,000

99.84 9/4/25
9/4/25
9/4/25
9/4/25
9/4/25
9/4/25

3.07 3.07

3.07 3.07
39 3133EJYM5
FFCB 3.02 09/04/25
7Yr Bullet
1,000

99.84 9/4/25
9/4/25
9/4/25
9/4/25
9/4/25
9/4/25

3.07 3.07

3.07 3.07
40 3133EL3P7
FFCB 0.53 08/12/25
5YrNC2Yr Amer
1,810

92.48 8/12/25
8/12/25
8/12/25
8/12/25
8/12/25
8/12/25

3.08 3.08

3.08 3.08
41 3134GWUG9
FHLMC 0.57 09/24/25
5YrNC1Yr Berm
10,000

92.33 9/24/25
9/24/25
9/24/25
9/24/25
9/24/25
9/24/25

3.08 3.08

3.08 3.08
42 3134GXBM5
FHLMC 0.6 11/12/25
5YrNC1Yr Berm
1,150

92.11 11/12/25
11/12/25
11/12/25
11/12/25
11/12/25
11/12/25

3.09 3.09

3.09 3.09
43 3135G06G3
FNMA 0 1/2 11/07/25
5Yr Bullet
3,000

91.90 11/7/25
11/7/25
11/7/25
11/7/25
11/7/25
11/7/25

3.06 3.06

3.06 3.06
44 9128285T3
T 2 5/8 12/31/25
7Yr Bullet
5,000

98.72 12/31/25
12/31/25
12/31/25
12/31/25
12/31/25
12/31/25

3.01 3.01

3.01 3.01
45 9128285T3
T 2 5/8 12/31/25
7Yr Bullet
3,000

98.72 12/31/25
12/31/25
12/31/25
12/31/25
12/31/25
12/31/25

3.01 3.01

3.01 3.01
46 3130AMRQ7
FHLB 0 7/8 12/30/25

4.5YrNC3mo Berm
3,000

92.69 12/30/25
12/30/25
12/30/25
12/30/25
12/30/25
12/30/25

3.09 3.09

3.09 3.09
47 9128286F2
T 2 1/2 02/28/26
7Yr Bullet
3,000

98.19 2/28/26
2/28/26
2/28/26
2/28/26
2/28/26
2/28/26

3.02 3.02

3.02 3.02
48 3130AN5C0
FHLB 1.05 04/29/26

4.75YrNC3mo Berm
4,000

92.60 4/29/26
4/29/26
4/29/26
4/29/26
4/29/26
4/29/26

3.11 3.11

3.11 3.11
49 3133ENJC5
FFCB 1.29 12/22/26
5YrNC2Yr Amer
5,000

92.21 12/22/26
12/22/26
12/22/26
12/22/26
12/22/26
12/22/26

3.17 3.17

3.17 3.17
50 3130AL5A8
FHLB 0.9 02/26/27
6YrNC3mo Berm
5,000

90.26 2/26/27
2/26/27
2/26/27
2/26/27
2/26/27
2/26/27

3.17 3.17

3.17 3.17
275,907

97.33 2.17

2.18 2.18

2.18 City of Palmdale: Flagship Lite - Palmdale, CA

Page 33 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Percentage Price Change / 12 Month Total Return
Price Change - Instantaneous Rate Shock
Projected TRR - 12mo. Horizon
Bond
Security
Original
Par
Mkt
ID #
CUSIP
Description
Structure
Value
Price
+100
+50
+25
Base
-25
-50
+100
+50
+25
Base
-25
-50
1 PLMDLLAIF
LAIF
45,118
100.00
-0.08
-0.04
-0.02

0.00 0.02

0.04 2.08

1.85 1.74

1.62 1.50

1.39 2

PLMDLCAMP
CAMP
249
100.00
-0.08
-0.04
-0.02

0.00 0.02

0.04 2.04

1.81 1.70

1.58 1.46

1.35 3

PLMDLLAIF
LAIF
17,724
100.00
-0.08
-0.04
-0.02

0.00 0.02

0.04 2.08

1.85 1.74

1.62 1.50

1.39 4

PLMDLLAIF
LAIF
37,234
100.00
-0.08
-0.04
-0.02

0.00 0.02

0.04 2.08

1.85 1.74

1.62 1.50

1.39 5
594918BH6
MSFT 2.65 11/03/22
7YrNC6.8Yr Amer
1,000

99.99 -0.33

0.00 0.00

0.00 2.45

1.87 1.87

1.87 6
92826CAC6
V 2.8 12/14/22
7YrNC6.8Yr Amer
1,500
100.09
-0.44

0.00 0.00

0.00 2.47

1.92 1.92

1.92 7
912828N30
T 2 1/8 12/31/22
7Yr Bullet
3,000

99.78 -0.49

0.00 0.00

0.00 2.50

2.14 2.14

2.14 8
037833DE7
AAPL 2.4 01/13/23

5.25YrNC5.1Yr Amer
1,000

99.66 -0.52

0.00 0.00

0.00 2.74

2.35 2.35

2.35 9
30231GAR3
XOM 2.726 03/01/23
7YrNC6.8Yr Amer
1,000

99.88 -0.62

0.00 0.00

0.00 2.73

2.33 2.33

2.33 10
30231GBL5
XOM 1.571 04/15/23
3YrNC1mo
5,000

99.00 -0.77

0.00 0.00

0.00 2.78

2.61 2.61

2.61 11
61747MX30
MS 3.15 05/10/23
5Yr Bullet
245
100.16
-0.84
-0.42
-0.21

0.00 0.21

0.42 2.90

2.83 2.80

2.77 2.74

2.71 12
17312QL23
C 3.15 05/11/23
5Yr Bullet
245
100.16
-0.84
-0.42
-0.21

0.00 0.21

0.43 2.90

2.84 2.80

2.77 2.74

2.71 13
87164WWF1
SYF 3.15 05/11/23
5Yr Bullet
245
100.16
-0.84
-0.42
-0.21

0.00 0.21

0.43 2.90

2.84 2.80

2.77 2.74

2.71 14
166764BV1
CVX 1.141 05/11/23
3YrNC1mo
2,075

98.28 -0.84

0.00 0.00

0.00 3.09

2.97 2.97

2.97 15
20033AYE0
ADS 3.1 05/15/23
5Yr Bullet
245
100.08
-0.85
-0.43
-0.21

0.00 0.21

0.43 2.96

2.90 2.87

2.84 2.81

2.78 16
9128284S6
T 2 3/4 05/31/23
5Yr Bullet
2,815

99.86 -0.89

0.00 0.00

0.00 2.88

2.80 2.80

2.80 17
3133EKPT7
FFCB 2 1/8 06/05/23
4Yr Bullet
5,000

99.33 -0.91

0.00 0.00

0.00 2.84

2.77 2.77

2.77 18
91282CBA8
T 0 1/8 12/15/23
3Yr Bullet
5,000

96.00 -1.42

0.00 0.00

0.00 2.73

3.19 3.19

3.19 19
91282CBA8
T 0 1/8 12/15/23
3Yr Bullet
10,000

96.00 -1.42

0.00 0.00

0.00 2.73

3.19 3.19

3.19 20
9128285U0
T 2 5/8 12/31/23
5Yr Bullet
5,000

99.53 -1.45

0.00 0.00

0.00 2.68

3.17 3.17

3.17 21
912828V23
T 2 1/4 12/31/23
7Yr Bullet
4,000

98.95 -1.45

0.00 0.00

0.00 2.71

3.19 3.19

3.19 22
912828V23
T 2 1/4 12/31/23
7Yr Bullet
5,000

98.95 -1.45

0.00 0.00

0.00 2.71

3.19 3.19

3.19 23
9128286R6
T 2 1/4 04/30/24
5Yr Bullet
5,000

98.75 -1.76

0.00 0.00

0.00 2.33

3.14 3.14

3.14 24
3133EL2X1
FFCB 0.42 05/06/24

3.75YrNC3mo Amer
2,000

95.39 -1.79

0.00 0.00

0.00 2.35

3.19 3.19

3.19 25
3130AMQR6
FHLB 0.35 06/07/24
3YrNC1Yr Berm
3,000

95.02 -1.88

0.00 0.00

0.00 2.27

3.20 3.20

3.20 26
3130AMHH8
FHLB 0.41 08/01/24

3.25YrNC3mo Berm
4,000

94.76 -2.02

0.00 0.00

0.00 2.12

3.20 3.20

3.20 27
3134GWNG7
FHLMC 0 1/2 11/27/24

4.25YrNC1Yr Berm
2,000

94.13 -2.32

0.00 0.00

0.00 1.82

3.21 3.21

3.21 28
3130AQDY6
FHLB 1 12/30/24
3YrNC6mo Amer
6,750

95.08 -2.36

0.00 0.00

0.00 1.78

3.22 3.22

3.22 29
91282CDN8
T 1 12/15/24
3Yr Bullet
5,000

95.30 -2.36

0.00 0.00

0.00 1.73

3.16 3.16

3.16 30
91282CDN8
T 1 12/15/24
3Yr Bullet
10,000

95.30 -2.36

0.00 0.00

0.00 1.73

3.16 3.16

3.16 31
91282CDN8
T 1 12/15/24
3Yr Bullet
5,000

95.30 -2.36

0.00 0.00

0.00 1.73

3.16 3.16

3.16 32
3130AQEA7
FHLB 1.05 01/14/25
3YrNC3mo Berm
7,000

95.09 -2.40

0.00 0.00

0.00 1.75

3.23 3.23

3.23 33
9128283P3
T 2 1/4 12/31/24
7Yr Bullet
3,000

98.22 -2.38

0.00 0.00

0.00 1.71

3.15 3.15

3.15 34
3133EMUP5
FFCB 0.71 04/01/25
4YrNC1Yr Amer
5,000

93.82 -2.63

0.00 0.00

0.00 1.51

3.22 3.22

3.22 35
3133ENHW3
FFCB 1.17 06/23/25

3.5YrNC3mo Amer
10,000

94.54 -2.78

0.00 0.00

0.00 1.35

3.24 3.24

3.24 36
3133ELK37
FFCB 0.78 06/16/25
5YrNC1Yr Amer
5,000

93.54 -2.82

0.00 0.00

0.00 1.31

3.22 3.22

3.22 City of Palmdale: Flagship Lite - Palmdale, CA

Page 34 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

92.83 -2.94

0.00 0.00

0.00 1.21

3.24 3.24

3.24 38
3133EJYM5
FFCB 3.02 09/04/25
7Yr Bullet
2,000

99.84 -2.96

0.00 0.00

0.00 1.15

3.17 3.17

3.17 39
3133EJYM5
FFCB 3.02 09/04/25
7Yr Bullet
1,000

99.84 -2.96

0.00 0.00

0.00 1.15

3.17 3.17

3.17 40
3133EL3P7
FFCB 0.53 08/12/25
5YrNC2Yr Amer
1,810

92.48 -2.98

0.00 0.00

0.00 1.14

3.21 3.21

3.21 41
3134GWUG9
FHLMC 0.57 09/24/25
5YrNC1Yr Berm
10,000

92.33 -3.09

0.00 0.00

0.00 1.02

3.20 3.20

3.20 42
3134GXBM5
FHLMC 0.6 11/12/25
5YrNC1Yr Berm
1,150

92.11 -3.21

0.00 0.00

0.00 0.89

3.20 3.20

3.20 43
3135G06G3
FNMA 0 1/2 11/07/25
5Yr Bullet
3,000

91.90 -3.22

0.00 0.00

0.00 0.86

3.17 3.17

3.17 44
9128285T3
T 2 5/8 12/31/25
7Yr Bullet
5,000

98.72 -3.26

0.00 0.00

0.00 0.76

3.11 3.11

3.11 45
9128285T3
T 2 5/8 12/31/25
7Yr Bullet
3,000

98.72 -3.26

0.00 0.00

0.00 0.76

3.11 3.11

3.11 46
3130AMRQ7
FHLB 0 7/8 12/30/25

4.5YrNC3mo Berm
3,000

92.69 -3.29

0.00 0.00

0.00 0.80

3.21 3.21

3.21 47
9128286F2
T 2 1/2 02/28/26
7Yr Bullet
3,000

98.19 -3.40

0.00 0.00

0.00 0.62

3.10 3.10

3.10 48
3130AN5C0
FHLB 1.05 04/29/26

4.75YrNC3mo Berm
4,000

92.60 -3.56

0.00 0.00

0.00 0.51

3.20 3.20

3.20 49
3133ENJC5
FFCB 1.29 12/22/26
5YrNC2Yr Amer
5,000

92.21 -4.07

0.00 0.00

3.23 3.23

3.23 50
3130AL5A8
FHLB 0.9 02/26/27
6YrNC3mo Berm
5,000

90.26 -4.33

0.00 0.00

0.00 -0.27

3.21 3.21

3.21 275,907

97.33 -1.46
-0.02
-0.01

0.00 0.01

0.02 1.88

2.63 2.59

2.55 2.50

2.46 City of Palmdale: Flagship Lite - Palmdale, CA

Page 35 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Redemption at Next Call Date - Instantaneous Rate Shock Probability of Redemption at NEXT Call Date
BPs CURRENTLY Away From Par
Bond
Security
Original
Par
Next
ID #
CUSIP
Description
Structure
Value
Call Date
+100
+50
+25
Base
-25
-50
+100
+50
+25
Base
-25
-50
5 594918BH6
MSFT 2.65 11/03/22
7YrNC6.8Yr Amer
1,000
09/03/22
0%
25%
25%
25%
25%
25%
105
3 3
3 3
3 6
92826CAC6
V 2.8 12/14/22
7YrNC6.8Yr Amer
1,500
10/14/22
0%
6%
6%
6%
6%
6%
79 -21
-21
-21
-21
-21
8 037833DE7
AAPL 2.4 01/13/23

5.25YrNC5.1Yr Amer
1,000
12/13/22
0%
12%
12%
12%
12%
12%
166
66 66
66 66
66 9
30231GAR3
XOM 2.726 03/01/23
7YrNC6.8Yr Amer
1,000
01/01/23
4%
14%
14%
14%
14%
14%
120
20 20
20 20
20 24
3133EL2X1
FFCB 0.42 05/06/24

3.75YrNC3mo Amer
2,000
07/14/22
0%
0%
0%
0%
0%
0%
418
317
317
317
317
317
25 3130AMQR6
FHLB 0.35 06/07/24
3YrNC1Yr Berm
3,000
09/07/22
0%
0%
0%
0%
0%
0%
421
321
321
321
321
321
26 3130AMHH8
FHLB 0.41 08/01/24

3.25YrNC3mo Berm
4,000
09/01/22
0%
0%
0%
0%
0%
0%
420
320
320
320
320
320
27 3134GWNG7
FHLMC 0 1/2 11/27/24

4.25YrNC1Yr Berm
2,000
08/27/22
0%
0%
0%
0%
0%
0%
414
314
314
314
314
314
28 3130AQDY6
FHLB 1 12/30/24
3YrNC6mo Amer
6,750
07/14/22
0%
0%
0%
0%
0%
0%
378
278
278
278
278
278
32 3130AQEA7
FHLB 1.05 01/14/25
3YrNC3mo Berm
7,000
10/14/22
0%
0%
0%
0%
0%
0%
363
262
262
262
262
262
34 3133EMUP5
FFCB 0.71 04/01/25
4YrNC1Yr Amer
5,000
07/14/22
0%
0%
0%
0%
0%
0%
414
314
314
314
314
314
35 3133ENHW3
FFCB 1.17 06/23/25

3.5YrNC3mo Amer
10,000
07/14/22
0%
0%
0%
0%
0%
0%
365
265
265
265
265
265
36 3133ELK37
FFCB 0.78 06/16/25
5YrNC1Yr Amer
5,000
07/14/22
0%
0%
0%
0%
0%
0%
405
305
305
305
305
305
37 3136G4ZP1
FNMA 0.65 07/30/25
5YrNC1Yr Berm
3,500
07/30/22
0%
0%
0%
0%
0%
0%
422
322
322
322
322
322
40 3133EL3P7
FFCB 0.53 08/12/25
5YrNC2Yr Amer
1,810
08/12/22
0%
0%
0%
0%
0%
0%
435
334
334
334
334
334
41 3134GWUG9
FHLMC 0.57 09/24/25
5YrNC1Yr Berm
10,000
09/24/22
0%
0%
0%
0%
0%
0%
422
322
322
322
322
322
42 3134GXBM5
FHLMC 0.6 11/12/25
5YrNC1Yr Berm
1,150
08/12/22
0%
0%
0%
0%
0%
0%
426
326
326
326
326
326
46 3130AMRQ7
FHLB 0 7/8 12/30/25

4.5YrNC3mo Berm
3,000
09/30/22
0%
0%
0%
0%
0%
0%
399
299
299
299
299
299
48 3130AN5C0
FHLB 1.05 04/29/26

4.75YrNC3mo Berm
4,000
07/29/22
0%
0%
0%
0%
0%
0%
382
282
282
282
282
282
49 3133ENJC5
FFCB 1.29 12/22/26
5YrNC2Yr Amer
5,000
12/22/23
0%
1%
1%
1%
1%
1%
339
239
239
239
239
239
50 3130AL5A8
FHLB 0.9 02/26/27
6YrNC3mo Berm
5,000
08/26/22
0%
0%
0%
0%
0%
0%
415
315
315
315
315
315
82,710
City of Palmdale: Flagship Lite - Palmdale, CA

Page 36 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Shocked Assumptions
Scenarios
Mod
Slight
Mod
Slight
Mod
Slight
Mod
Up Stp
Up Stp
Up Flt
Up Flt
+100
+50
+25
Base
-25
-50
Dn Stp
Dn Flt
Dn Flt
Shift Amount
3mo
25 13
75 38
100
50 25
0 -25
-50
-75
-19
-38
6mo
29 15
67 33
100
50 25
0 -25
-50
-67
-21
-42
12mo
33 17
58 29
100
50 25
0 -25
-50
-58
-23
-46
2yr
38 19
50 25
100
50 25
0 -25
-50
-50
-25
-50
3yr
42 21
46 23
100
50 25
0 -25
-50
-46
-27
-54
5yr
50 25
38 19
100
50 25
0 -25
-50
-38
-31
-63
10yr
75 38
25 13
100
50 25
0 -25
-50
-25
-38
-75
30yr
75 38
25 13
100
50 25
0 -25
-50
-25
-38
-75
Shock Horizon
0 Months
0 Months
0 Months
0 Months
0 Months
0 Months
0 Months
0 Months
0 Months
0 Months
0 Months
0 Months
0 Months
Total Return Horizon
12 Months
12 Months
12 Months
12 Months
12 Months
12 Months
12 Months
12 Months
12 Months
12 Months
12 Months
12 Months
12 Months
Shift Timing to Horizon
Ramped
Ramped
Ramped
Ramped
Ramped
Ramped
Ramped
Ramped
Ramped
Ramped
Ramped
Ramped
Ramped
Curve Type
Static
Static
Static
Static
Static
Static
Static
Static
Static
Static
Static
Static
Static
City of Palmdale: Flagship Lite - Palmdale, CA

Page 37 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

Assumptions
·

Calculation Engine
The Yield Book © and ZM Financial
·

Prepayment Model
The Yield Book ©
·

Data Sources
The Yield Book ©, Reuters, Intex, KDS and Stifel
·

Curve Date
Same as Portfolio As Of Date
·

Curve Type Used
Swap Curve
·

Market Prices
Market prices are indications only, provided by Reuters unless otherwise specified ·

Horizon Price Methodology
Constant OAS where possible; constant nominal spread change as a secondary method ·

Horizon Period
0 month horizon for immediate rate shock scenarios; 12 month horizon for total return scenarios ·

Reinvestment Rate
3 Month LIBOR
·

Cost of Funds

0.00%
·

Tax Rate

00.0%
·

Subtotal Weightings
Overall totals and subtotals are weighted by market value Additional Information
Adjustable Rate Securities
- YTM for ARMs and floaters assumes the coupon resets based on index levels implied by the static curve.

Projected Call Methodology
- The method 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 noted.

Original Face
- If original face was not supplied, original face was estimated by dividing current face by current factor.

Dollar Amounts
- Unless otherwise specified, dollar amounts are displayed in thousands (000s).

City of Palmdale: Flagship Lite - Palmdale, CA

Page 38 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

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.

Securities identified herein are subject to availability and changes in price.

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’
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as applicable).

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. All rights reserved.

Disclaimer
City of Palmdale: Flagship Lite - Palmdale, CA

Page 39 of 39 ends

As of 6/30/2022
Portfolio ID: 7211 - 58411

PORTFOLIO REVIEW AND ANALYSIS
City of Palmdale - Successor Agency
Palmdale, CA
As of Date: 06/30/2022
Pricing as of: 06/30/2022
Date of Analysis: 07/06/2022

Book Value
8,701
# Securities
1 Average Size (Book)
8,701
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
-0.09
% Price Change +300bps
-0.26
Effective Duration

0.09 Effective Convexity

0.00 AFS / HTM%
100% / 0%
Fixed / Floating
100% / 0%
ESG/Green Par (000's)
$0 / $0
Portfolio Overview
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 2 of 26 ends

Portfolio ID: 6753 - 58411

Historical Portfolio Overview
06/30/2022
05/31/2022
03/31/2022
12/31/2021
Book Value
8,701
3,701
3,698
3,695
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)
-0.3%
-0.2%
-0.2%
-0.3%
% Price Change (-100)

0.1%

0.1%
Effective Duration

0.09 0.08

0.08 0.09
Effective Convexity

0.00 0.00

0.00 0.00
$ Gain/Loss
0 0
0 0
% Gain/Loss

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%
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 3 of 26 ends

Portfolio ID: 6753 - 58411

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%
8,701

0.78 0.1 yrs
8,701

0.78 8,701

0.78 0.1
-0.1
-0.3
0 0.0%

0.08 0.09

0.00 100 %
Other (1)
100.0%
8,701

0.78 0.1 yrs
8,701

0.78 8,701

0.78 0.1
-0.1
-0.3
0 0.0%

0.08 0.09

0.00 100 %
Total (1)
100.0%
8,701

0.78 0.1 yrs
8,701

0.78 8,701

0.78 0.1
-0.1
-0.3
0 0.0%

0.08 0.09

0.00 100 %
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 4 of 26 ends

Portfolio ID: 6753 - 58411

Shocked Analysis
-200
-100
Base
+100
+200
+300
+400
Par Value
8,701
8,701
8,701
8,701
8,701
8,701
8,701
Book Value
8,701
8,701
8,701
8,701
8,701
8,701
8,701
Market Value
8,716
8,708
8,701
8,693
8,686
8,678
8,671
Gain/(Loss)
15 7
0 -7
-15
-22
-30
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 Market Price
100.17
100.09
100.00

99.91 99.83

99.74 99.66
Market Yield
-1.28
-0.25

0.78 1.82

2.86 3.91

4.96 WAL

0.08 0.08

0.08 City of Palmdale - Successor Agency - Palmdale, CA As of 6/30/2022

Page 5 of 26 ends

Portfolio ID: 6753 - 58411

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%
8,701
-0.1%
-0.2%
-0.3%

0.1%
Total

0.1%
8,701
-0.1%
-0.2%
-0.3%

0.1%
Scenario Market Val
8,708
8,701
8,693
8,686
8,678
Scenario Gain/Loss
7 0
-7
-15
-22
Total Portfolio (AFS + HTM):
% Change in Market Val from Level
-200 bps

0.2%
-100 bps

0.1%
Level Market Val
8,701
+100 bps
-0.1%
+200 bps
-0.2%
+300 bps
-0.3%
+400 bps
-0.3%
Effective Duration

0.09 Effective Convexity

0.00 City of Palmdale - Successor Agency - Palmdale, CA As of 6/30/2022

Page 6 of 26 ends

Portfolio ID: 6753 - 58411

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 04/22
8,436
-7.4

1.70 6.5

5.8 8.3

5.1 -5.0
-14.6

4.9 0.1
10%
0%
0%
0%
0%
0%
0%
0%
80%
3%
6%
100%
100%
2 04/22
9,000
-4.4

1.40 2.3

1.8 2.8

2.3 -2.5
-7.4

2.4 -0.2
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
3 05/22
7,165
-5.3

1.55 3.5

3.2 3.7

3.3 -3.3
-9.8

3.3 -0.1
14%
0%
0%
0%
0%
0%
0%
0%
0%
0%
86%
100%
0%
4 05/22
10,235

0.0 0.92

1.7 1.7

1.7 1.6
-1.6
-4.8

1.6 0.0
17%
0%
0%
0%
0%
0%
0%
0%
5%
0%
78%
100%
22%
5 03/22
7,019
-4.1

1.89 3.5

2.9 3.9

3.2 -3.1
-8.9

3.1 0.1
0%
19%
0%
18%
0%
0%
0%
0%
0%
3%
59%
100%
100%
6 05/22
11,000
-6.5

0.81 3.6

3.3 3.6

3.3 -3.3
-9.6

3.3 0.0
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
7 05/22
4,792
-6.7

0.77 3.5

3.3 3.5

3.2 -3.3
-9.6

3.3 0.0
95%
0%
0%
0%
0%
0%
0%
0%
0%
0%
5%
100%
100%
8 03/22
13,008
-2.6

0.68 2.1

2.1 2.1

2.1 -2.0
-5.8

2.0 0.1
0%
0%
0%
0%
0%
0%
0%
0%
26%
34%
40%
100%
100%
9 05/22
4,289
-4.1

1.64 2.4

2.4 2.6

2.3 -2.3
-6.8

2.3 -0.1
19%
0%
0%
0%
0%
0%
0%
0%
75%
0%
6%
100%
100%
10 03/22
13,285
-3.3

1.53 2.7

2.5 2.7

2.6 -2.5
-7.3

2.5 0.0
26%
0%
0%
0%
0%
0%
0%
0%
19%
13%
41%
100%
100%
11 05/22
3,229
-1.0

2.34 1.7

1.7 1.7

1.7 -1.6
-4.7

1.6 0.0
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
100%
12 05/22
15,786
-5.1

1.09 2.8

2.7 2.8

2.6 -2.6
-7.6

2.6 0.0
61%
0%
0%
0%
0%
0%
0%
0%
0%
0%
39%
100%
100%
13 03/22
490
-1.8

1.10 1.5

1.5 1.5

1.5 -1.4
-4.2

1.5 0.0
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
100%
14 04/22
16,993
-0.1

0.96 0.9

0.7 3.3

1.1 -2.0
-7.3

1.6 -1.1
84%
0%
0%
0%
0%
0%
0%
0%
7%
0%
9%
100%
97%
15 03/22
295
-3.3

0.60 2.0

2.0 2.0

2.0 -1.9
-5.6

1.9 0.1
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
100%
16 03/22
200
-1.2

1.08 1.2

1.2 1.2

1.3 -1.2
-3.6

1.2 0.0
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
100%
17 05/22
36,828
-6.2

1.07 3.7

3.2 3.9

3.2 -3.4
-10.1

3.4 -0.2
99%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
100%
100%
18 03/22
40,443
-4.8

1.17 3.5

3.0 3.5

3.0 -3.1
-9.0

3.1 -0.1
62%
0%
0%
0%
0%
0%
0%
0%
1%
0%
37%
99%
100%
19 05/22
42,541

1.3 1.90

2.2 2.0

2.5 2.0
-2.2
-6.5

2.1 -0.1
50%
0%
0%
0%
0%
0%
0%
0%
48%
0%
2%
99%
100%
20 05/22
48,811
-3.8

1.11 2.4

2.4 2.5

2.4 -2.3
-6.8

2.4 0.1
60%
0%
0%
0%
0%
1%
0%
9%
7%
22%
1%
96%
100%
21 03/22
49,161
-4.4

1.09 3.5

2.7 4.0

3.0 -3.2
-9.7

3.1 -0.3
76%
1%
0%
1%
0%
0%
0%
0%
0%
14%
8%
94%
100%
22 05/22
52,960
-3.6

1.77 3.3

2.0 3.8

2.5 -3.0
-9.4

2.8 -0.5
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
23 05/22
54,648
-1.2

0.73 0.8

0.8 1.0

0.8 -0.8
-2.4

0.8 0.0
3%
0%
0%
0%
0%
0%
0%
0%
0%
8%
89%
100%
100%
24 03/22
83,809

0.1 0.93

3.0 3.0

3.2 3.0
-3.0
-8.7

3.0 0.0
74%
0%
0%
0%
0%
0%
0%
0%
0%
0%
26%
100%
100%
25 05/22
125,568
-3.3

0.85 1.7

1.6 1.8

1.6 -1.6
-4.8

1.6 0.0
34%
0%
0%
0%
0%
0%
0%
0%
40%
1%
25%
100%
24%
Avg
26,400
-3.3

1.23 2.6

2.4 2.9

2.4 -2.5
-7.4

2.5 -0.1
43%
1%
0%
1%
0%
0%
0%
0%
12%
4%
38%
100%
90%
Port
8,701

0.0 0.78

0.1 0.1

0.1 0.1
-0.1
-0.3

0.1 0.0
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
100%
Diff
-17,699

3.3 -0.45
-2.6
-2.3
-2.9
-2.3

2.4 7.2
-2.4

0.1 -43%
-1%
0%
-1%
0%
0%
0%
0%
-12%
-4%
62%
0%
10%
* Peer group includes Public Entitys that have received portfolio analysis from Stifel in the last three months with the closest portfolio book values.

City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 7 of 26 ends

Portfolio ID: 6753 - 58411

Summary Peer Comparison
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 gray box is the avg. of your peers within the range and the blue dot represents your position.

City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 8 of 26 ends

Portfolio ID: 6753 - 58411

Cash Flow and Yield Rolloff - Next 12 Months
Yield Rolloff
Month
Begin BY
Principal CF
Rolloff Yld
Ending BY
Jul 2022

0.78 8,701

0.78 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
Apr 2023
0 0.00
May 2023
0 0.00
Jun 2023
0 0.00
Shocked Principal and Interest Cash Flow Analysis
Year
-200
-100
Base
+100
+200
+300
+400
Jul 2022
8,707
8,707
8,707
8,707
8,707
8,707
8,707
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 9 of 26 ends

Portfolio ID: 6753 - 58411

Cash Flow and Yield Rolloff - Next 10 Years
Yield Rolloff
Year
Begin BY
Principal CF
Rolloff Yld
Ending BY
2022

0.78 8,701

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
8,707
8,707
8,707
8,707
8,707
8,707
8,707
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 10 of 26 ends

Portfolio ID: 6753 - 58411

Sector Cash Flow and Yield Rolloff - Next 12 Months
Jul 22
Aug 22
Sep 22
Oct 22
Nov 22
Dec 22
Jan 23
Feb 23
Mar 23
Apr 23
May 23
Jun 23
Bk Yld Chg
Other
Cash Flow
8,707
0 0
0 0
0 0
0 0
0 0
0 End BY

0.00 0.00

0.00 Total
Cash Flow
8,707
0 0
0 0
0 0
0 0
0 0
0 End BY

0.00 0.00

0.00 City of Palmdale - Successor Agency - Palmdale, CA As of 6/30/2022

Page 11 of 26 ends

Portfolio ID: 6753 - 58411

Sector Cash Flow and Yield Rolloff - Next 3 Years
3Q22
4Q22
1Q23
2Q23
3Q23
4Q23
1Q24
2Q24
3Q24
4Q24
1Q25
2Q25
Bk Yld Chg
Other
Cash Flow
8,707
0 0
0 0
0 0
0 0
0 0
0 End BY

0.00 0.00

0.00 Total
Cash Flow
8,707
0 0
0 0
0 0
0 0
0 0
0 End BY

0.00 0.00

0.00 City of Palmdale - Successor Agency - Palmdale, CA As of 6/30/2022

Page 12 of 26 ends

Portfolio ID: 6753 - 58411

Gap Analysis - Potential Income Impact of Principal Reinvestment Assumed
Estimated
Income
Resulting
Reinvestment
Annualized
Difference from
Book
Yield
Income
Current Book
Yield

0.25 22
-46

0.25 0.50
44 -24

0.50 0.75
65 -3

0.75 1.00
87 19

1.00 1.25
109
41 1.25

1.50 131
63 1.50

1.75 152
84 1.75

2.00 174
106

2.00 2.25
196
128

2.25 2.50
218
150

2.50 2.75
239
171

2.75 3.00
261
193

3.00 3.25
283
215

3.25 3.50
305
237

3.50 3.75
326
258

3.75 4.00
348
280

4.00 4.25
370
302

4.25 4.50
392
324

4.50 4.75
413
345

4.75 5.00
435
367

5.00 5.25
457
389

5.25 5.50
479
411

5.50 5.75
500
432

5.75 6.00
522
454

6.00 6.25
544
476

6.25 6.50
566
498

6.50 6.75
587
519

6.75 7.00
609
541

7.00 7.25
631
563

7.25 7.50
653
585

7.50 7.75
674
606

7.75 8.00
696
628

8.00 Principal Maturing(12 Mo.Horizon): $8,701
Current Book Yield of Principal Maturing: 0.78%
Est. Annual Income at Current Book Yield: $68
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 13 of 26 ends

Portfolio ID: 6753 - 58411

Shocked Cash Flows By Sector - Next 10 Years
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 14 of 26 ends

Portfolio ID: 6753 - 58411

Cash Flows By Sector - Next 30 Years
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 15 of 26 ends

Portfolio ID: 6753 - 58411

Cash Flow Projection By Month - Next 5 Years
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 16 of 26 ends

Portfolio ID: 6753 - 58411

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

0.09 0.00
Cash & Other (1)
100.0%
8,701

0.78 8,701

0.78 -22
-0.3%

0.08 -0.3
100.0%

0.1 yrs
100.00
100.00
0 0.0%

0.08 0.1

0.09 0.00
Total (1)
100.0%
8,701

0.78 8,701

0.78 -22
-0.3%

0.08 -0.3
100.0%
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 17 of 26 ends

Portfolio ID: 6753 - 58411

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 < 2%
1 0.78

0.1 yrs
8,701
100.00
100.00
0 0.78

0.1 0.09
Cash & Other
1 0.78

0.1 yrs
8,701
100.00
100.00
0 0.78

0.1 0.09
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 18 of 26 ends

Portfolio ID: 6753 - 58411

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 07/31/22
8,701
100.00
100.00
0 0.781

0.08 -0.26
-22
-22

0.09 AFS

0.78 8,701
100.00
100.00
0 0.781

0.08 -0.26
-22
-22

0.09 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 07/31/22
8,701
100.00
100.00
0 0.781

0.08 -0.26
-22
-22

0.09 AFS

0.78 8,701
100.00
100.00
0 0.781

0.08 -0.26
-22
-22

0.09 City of Palmdale - Successor Agency - Palmdale, CA As of 6/30/2022

Page 19 of 26 ends

Portfolio ID: 6753 - 58411

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 07/31/22
8,701
100.00
100.00
0 0.781

0.08 -0.26
-22
-22

0.09 AFS

0.78 8,701
100.00
100.00
0 0.781

0.08 -0.26
-22
-22

0.09 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 07/31/22
8,701
100.00
100.00
0 0.781
-0.26

0.09 0.08

0.08 0.00
AFS

0.78 8,701
100.00
100.00
0 0.781
-0.26

0.09 0.08

0.08 0.00
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 20 of 26 ends

Portfolio ID: 6753 - 58411

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
07/22
100.00
100.00

0.0%

0.1 0.09

PLMDLLAIF
8,701

0.780
07/31/22
8,701

0.78 8,701

0.78 0
-0.3

0.00 AFS
100.00
100.00

0.0%

0.1 0.09
Cash & Other
8,701

0.780
8,701

0.78 8,701

0.78 0
-0.3

0.00 100.00
100.00

0.0%

0.1 0.09
Total
8,701

0.780
8,701

0.78 8,701

0.78 0
-0.3

0.00 City of Palmdale - Successor Agency - Palmdale, CA As of 6/30/2022

Page 21 of 26 ends

Portfolio ID: 6753 - 58411

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
8,701
15 0.17%
7 0.09%
0 0.00%
-7
-0.09%
-15
-0.17%
-22
-0.26%
-30
-0.34%

PLMDLLAIF

0.78 100.17
-1.28
100.09
-0.25
100.00

0.78 99.91

1.82 99.83

2.86 99.74

3.91 99.66

4.96 LAIF
07/31/2022

0.08 0.08

0.09 0.08

0.08 0.08

0.08 0.08
Other
8,701
15 0.17%
7 0.09%
0 0.00%
-7
-0.09%
-15
-0.17%
-22
-0.26%
-30
-0.34%

0.78 100.17
-1.28
100.09
-0.25
100.00

0.78 99.91

1.82 99.83

2.86 99.74

3.91 99.66

4.96 0.08

0.08 0.09

0.08 0.08

0.08 Total
8,701
15 0.17%
7 0.09%
0 0.00%
-7
-0.09%
-15
-0.17%
-22
-0.26%
-30
-0.34%

0.78 100.17
-1.28
100.09
-0.25
100.00

0.78 99.91

1.82 99.83

2.86 99.74

3.91 99.66

4.96 0

0.08 0.08

0.09 0.08

0.08 0.08

0.08 0.08
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 22 of 26 ends

Portfolio ID: 6753 - 58411

Portfolio Changes
Partial Buy5/2022-6/2022
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
Redemption Type

PLMDLLAIF
Other
LAIF
07/31/2022

0.78 8,700,688
100.00
AFS
Same CUSIP buys
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 23 of 26 ends

Portfolio ID: 6753 - 58411

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
2022-06-30
2022-06-30
2022-06-30
2022-06-30
2022-06-30
2022-06-30
2022-06-30
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 24 of 26 ends

Portfolio ID: 6753 - 58411

Report Assumptions
Assumptions
·

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).

City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 25 of 26 ends

Portfolio ID: 6753 - 58411

Securities identified herein are subject to availability and changes in price.

For additional information on investment risks (including but not limited to, market/credit risks, credit ratings, and specific securities provisions), contact your Stifel Fixed Income representative.
©
2022
Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE, One South Street, Baltimore, MD 21202
. All rights reserved.

Disclaimer
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2022

Page 26 of 26 ends

Portfolio ID: 6753 - 58411

City of Palmdale - Successor Agency: Flagship Lite
Palmdale, CA
As of Date: 06/30/2022
Pricing as of: 06/30/2022
Date of Analysis: 07/07/2022

Portfolio Overview
Portfolio Attributes
Curr. Face
8,701
Mkt. Value
8,701
Book Value
8,701
Est. Gain/Loss
0 Ave. Mkt. Price
100.00
Ave. Bk. Price
100.00
Eff. Dur.

0.08 Eff. Conv.

0.00 TOAS
-96.0
Mkt YTP

0.78 Bk YTP

0.78 WAL

0.08 Line Items
1 City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 2 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Duration / Convexity
Eff. Dur.

0.08 Eff. Conv.

0.00 City of Palmdale - Successor Agency: Flagship Lite - Palmdale, CA

Page 3 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Portfolio Sector Summary
Market
%
Book
Market
Est
Eff
Eff Dur
% Δ
in Price
Sector
Par Value
Value
Port
Price
Price
G/L
Conv
Bk Yld
Mkt Yld
+50
Base
-50
+50
Base
-50
Cash & Other
8,701
8,701
100.0%
100.00
100.00
0 0.00

0.78 0.78

0.08 0.08

0.08 0.0%
0 0.0%
Portfolio Totals
8,701
8,701
100.0%
100.00
100.00
0 0.00

0.78 0.78

0.08 0.08

0.08 0.0%
0 0.0%
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 4 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Peer Group Comparison
As of
Book
G/L
Book
Average Life
% Price Change
Effective
UST
Fix
Fix
Flt
Agy
Sm
Prv
%
Peer
Date
Value
%
Yield
Base
-50
+100
-50
+50
+100
Dur
Cvx
Agy
MBS
ARM
CMO
CMO
CMBS
Bus.

Label
Muni
Corp
CD
Other
Fixed
1 04/22
8,847
-2.0

1.7 0%
0%
0%
0%
0%
0%
0%
0%
20%
80%
0%
0%
100%
2 04/22
8,904
-0.7

1.4 0%
0%
0%
0%
0%
0%
0%
0%
26%
0%
74%
0%
100%
3 04/22
8,436
-7.4

1.70 6.5

7.9 -5.0

4.9 0.1
10%
0%
0%
0%
0%
0%
0%
0%
80%
3%
6%
0%
100%
4 04/22
9,000
-4.4

1.40 2.3

2.7 -2.5

2.4 -0.2
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
5 04/22
8,255
-6.3

3.0 60%
0%
0%
0%
0%
0%
0%
0%
40%
0%
0%
0%
100%
6 04/22
8,112
-3.1

2.4 18%
0%
0%
0%
0%
6%
42%
0%
0%
0%
33%
0%
100%
7 04/22
9,468
-3.4

2.7 76%
0%
0%
0%
0%
0%
0%
0%
5%
18%
0%
0%
100%
8 04/22
7,801
-2.9

1.8 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
9 04/22
7,785
-1.0

0.8 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
10 04/22
9,842
-0.3

0.5 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
11 04/22
9,959

0.0 0.5
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
12 04/22
10,077
-4.7

3.3 79%
0%
0%
0%
0%
0%
0%
0%
21%
0%
0%
0%
100%
13 04/22
10,175
-1.4

0.2 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
14 04/22
7,165
-2.1

0.6 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
15 05/22
7,165
-5.3

1.55 3.5

3.7 -3.3

3.3 -0.1
14%
0%
0%
0%
0%
0%
0%
0%
0%
0%
86%
0%
100%
16 05/22
10,235

0.0 0.92

1.7 1.7
-1.6

1.6 0.0
17%
0%
0%
0%
0%
0%
0%
0%
5%
0%
78%
0%
100%
17 03/22
7,019
-4.1

1.89 3.5

3.8 -3.1

3.1 0.1
0%
19%
0%
18%
0%
0%
0%
0%
0%
3%
59%
0%
100%
18 04/22
7,000
-6.0

3.4 71%
0%
0%
0%
0%
0%
0%
0%
0%
29%
0%
0%
100%
19 04/22
6,788
-3.9

3.2 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
20 04/22
6,629
-2.0

2.4 7%
0%
0%
0%
0%
0%
0%
0%
24%
61%
8%
0%
100%
21 04/22
10,906
-4.6

2.9 82%
0%
0%
0%
0%
0%
0%
0%
18%
0%
0%
0%
100%
22 05/22
11,000
-6.5

0.81 3.6

3.6 -3.3

3.3 0.0
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
23 04/22
11,000
-3.5

2.1 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
24 04/22
5,927
-1.8

2.4 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
25 04/22
5,829
-0.2

0.5 100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
Avg
8,533
-3.1

1.38 2.3

3.9 -3.1

3.1 0.0
65%
1%
0%
1%
0%
0%
2%
0%
10%
8%
14%
0%
100%
Port
06/22
8,701

0.0 0.78

0.1 0.1

0.1 0.0

0.0 -0.1

0.1 0.0
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
Diff
168

3.1 -0.60
-2.2
-3.8

3.0 -3.0

0.0 -65%
-1%
0%
-1%
0%
0%
-2%
0%
-10%
-8%
-14%
100%
0%
* Peer group includes Public Entitys that have received portfolio analysis from Stifel in the last three months with the closest portfolio book values.

City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 5 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Monthly Cashflow Profile - Next 30 Months
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 6 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Monthly Cashflow Rate Shock - Next 30 Months
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 7 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Annual Cashflow Profile
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 8 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Annual Cashflow Rate Shock
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 9 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

8.7 8.7

8.7 8.7
100%
100%
100%
100%
100%
100%
In Millions
12-Month Principal Cash Flow Projections
Percentage of Total Cash Flow Projections
Period
+100
+50
+25
Base
-25
-50
+100
+50
+25
Base
-25
-50
Jul 22

8.7 8.7

8.7 8.7
100%
100%
100%
100%
100%
100%
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 10 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Cash Flow and Yield Rolloff - Next 12 Months
Yield Rolloff
Month
Begin BY
Principal CF
Rolloff Yld
Ending BY
Jul 2022

0.78 8,701

0.78 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
Apr 2023
0 0.00
May 2023
0 0.00
Jun 2023
0 0.00
Shocked Principal and Interest Cash Flow Analysis
Year
Mod Up Stp
+100
+50
+25
-25
-50
Mod Dn Flt
Jul 2022
8,707
8,707
8,707
8,707
8,707
8,707
8,707
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 11 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Sector Cash Flow and Yield Rolloff - Next 12 Months
Jul 22
Aug 22
Sep 22
Oct 22
Nov 22
Dec 22
Jan 23
Feb 23
Mar 23
Apr 23
May 23
Jun 23
Bk Yld Chg
Other
Cash Flow
8,707
0 0
0 0
0 0
0 0
0 0
0 End BY

0.00 0.00

0.00 Total
Cash Flow
8,707
0 0
0 0
0 0
0 0
0 0
0 End BY

0.00 0.00

0.00 City of Palmdale - Successor Agency: Flagship Lite - Palmdale, CA

Page 12 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Cash Flow and Yield Rolloff - Next 3 Years
Yield Rolloff
Quarter
Begin BY
Principal CF
Rolloff Yld
Ending BY
3Q22

0.78 8,701

0.78 4Q22
0 0.00
1Q23
0 0.00
2Q23
0 0.00
3Q23
0 0.00
4Q23
0 0.00
1Q24
0 0.00
2Q24
0 0.00
3Q24
0 0.00
4Q24
0 0.00
1Q25
0 0.00
2Q25
0 0.00
Shocked Principal and Interest Cash Flow Analysis
Quarter
Mod Up Stp
+100
+50
+25
-25
-50
Mod Dn Flt
3Q22
8,707
8,707
8,707
8,707
8,707
8,707
8,707
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 13 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Sector Cash Flow and Yield Rolloff - Next 3 Years
3Q22
4Q22
1Q23
2Q23
3Q23
4Q23
1Q24
2Q24
3Q24
4Q24
1Q25
2Q25
Bk Yld Chg
Other
Cash Flow
8,707
0 0
0 0
0 0
0 0
0 0
0 End BY

0.00 0.00

0.00 Total
Cash Flow
8,707
0 0
0 0
0 0
0 0
0 0
0 End BY

0.00 0.00

0.00 City of Palmdale - Successor Agency: Flagship Lite - Palmdale, CA

Page 14 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Cash Flow and Yield Rolloff - Next 10 Years
Yield Rolloff
Year
Begin BY
Principal CF
Rolloff Yld
Ending BY
2022

0.78 8,701

0.78 2023
2024
2025
2026
2027
2028
2029
2030
2031
Shocked Principal and Interest Cash Flow Analysis
Year
Mod Up Stp
+100
+50
+25
-25
-50
Mod Dn Flt
2022
8,707
8,707
8,707
8,707
8,707
8,707
8,707
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 15 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Sector Cash Flow and Yield Rolloff - Next 10 Years
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
Bk Yld Chg
Other
Cash Flow
8,707
0 0
0 0
0 0
0 0
0 End BY

0.78 0.00

0.00 0.00

0.00 0.00
-0.78
Total
Cash Flow
8,707
0 0
0 0
0 0
0 0
0 End BY

0.00 0.00

0.00 City of Palmdale - Successor Agency: Flagship Lite - Palmdale, CA

Page 16 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Effective Duration - Instantaneous Rate Shock
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 17 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

% Px Chng - Instantaneous Rate Shock
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 18 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Total Returns - 12mo Horizon
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 19 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Book Yield / Duration
*Only securities >=$1mm shown
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 20 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Market Yield / Duration
*Only securities >=$1mm shown
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 21 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Total Return / Duration
*Only securities >=$1mm shown
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 22 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

OAS / Duration
*Only securities >=$1mm shown
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 23 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Page 24 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Book Yield Table - Instantaneous Rate Shock
Projected Call Date - Instantaneous Rate Shock
Book Yield Table - Instantaneous Rate Shock
Bond
Security
Original
Par
Book
ID #
CUSIP
Description
Structure
Value
Price
+100
+50
+25
Base
-25
-50
+100
+50
+25
Base
-25
-50
1 PLMDLLAIF
LAIF
8,701
100.00
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22

0.78 0.78

0.78 0.78
8,701
100.00

0.78 0.78

0.78 0.78
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 25 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Market Yield Table - Instantaneous Rate Shock
Projected Call Date - Instantaneous Rate Shock
Market Yield Table - Instantaneous Rate Shock
Bond
Security
Original
Par
Mkt
ID #
CUSIP
Description
Structure
Value
Price
+100
+50
+25
Base
-25
-50
+100
+50
+25
Base
-25
-50
1 PLMDLLAIF
LAIF
8,701
100.00
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22
7/31/22

0.78 0.78

0.78 0.78
8,701
100.00

0.78 0.78

0.78 0.78
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 26 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

0.00 0.02

0.04 2.08

1.85 1.74

1.62 1.50

1.39 8,701
100.00
-0.08
-0.04
-0.02

0.00 0.02

0.04 2.08

1.85 1.74

1.62 1.50

1.39 City of Palmdale - Successor Agency: Flagship Lite - Palmdale, CA

Page 27 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Page 28 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Assumptions
·

Curve Date
Same as Portfolio As Of Date
·

Curve Type Used
Swap Curve
·

Market Prices
Market prices are indications only, provided by Reuters unless otherwise specified ·

Horizon Price Methodology
Constant OAS where possible; constant nominal spread change as a secondary method ·

Horizon Period
0 month horizon for immediate rate shock scenarios; 12 month horizon for total return scenarios ·

Reinvestment Rate
3 Month LIBOR
·

Cost of Funds

0.00%
·

Tax Rate

00.0%
·

Original Face
- If original face was not supplied, original face was estimated by dividing current face by current factor.

Dollar Amounts
- Unless otherwise specified, dollar amounts are displayed in thousands (000s).

City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 29 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

Securities identified herein are subject to availability and changes in price.

Disclaimer
City of Palmdale - Successor Agency: Flagship Lite -
Palmdale, CA

Page 30 of 30 ends

As of 6/30/2022
Portfolio ID: 7213 - 58411

City Council Staff Report
DATE: AUGUST 3, 2022
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: CITY MANAGER DEPARTMENT

FINANCE DIVISION
DISTRICT: ALL
SUBJECT: APPROVE FIRST AMENDMENT TO AGREEMENT WITH EIDE

BAILLY, LLP TO PROVIDE AUDIT SERVICES FOR AN ADDITIONAL AMOUNT OF $ 75,000, AND A NOT TO EXCEED AMOUNT OF
398,792 FOR A ONE (1) YEAR TERM THROUGH JUNE 30, 2023.

ISSUE
Approve First Amendment to Agreement with Eide Bailly, LLP to provide audit services for an additional amount of $75,000, and a not to exceed amount of $398,792 for a one (1) year term through June 30, 2023.

RECOMMENDATION
Staff recommends that the City Council:

1. Approve First Amendment to Agreement A-7499 for audit services between the City of Palmdale and Eide Bailly, LLP for a term of One (1) year commencing on July 1st, 2022, through June 30th, 2023

2. Direct the Acting City Attorney to finalize the First Amendment to Agreement A- 7499 and authorize the Interim City Manager or her designee to execute the agreement, including making minor and non-substantive changes.

BACKGROUND
The City of Palmdale is required to have annual audits performed by an independent audit firm in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in the Governm ental Auditing Standards issued by the Comptroller General of the United States, the provisions of the Federal Single Audit Act as amended in 1996, and the U.S. Office of Management and Budget (OMB) circular A-133 Audits of State and Local Governments and Non-Profit Organizations.

In 2021 the City engaged in an agreement with Eide Bailly, LLP to provide auditing services for the City of Palmdale, The Palmdale Civic Authority, the Palmdale Financing Report to Mayor and City Council
Re: First Amendment to Agreement with Eide Bailly
August 3, 2022

Page 2 ends

Authority, the City of Palmdale Housing Authority, and the Palmdale Community Foundation. In addition to performing financial audits, they have also performed the Single Audit, an audit of the City’s GANN limit calculation for a two-year term, performing services for Fiscal Year 2020-21 and Fiscal Year 2021-22.

DISCUSSION
In order to comply with the requirement of new Governmental Accounting Standards Board (GASB) pronouncements such as GASB Statement No. 87 (Leases), GASB Statement No. 96 (Subscription Based Information-Technology Arrangements) and GASB Statement No. 101 (Compensated Absences), the City has determined that amending the contract to include expanded audit procedures and implementation support is beneficial to the City. Failure to comply with the GASB Pronouncements can result in an “unclean” or qualified audit opinion, which may limit a government’s ability to issue bonds by either prohibiting their issuance or requiring a higher interest rate on those bonds.

Eide Bailly, LLP is a top 25 CPA and consulting firm. Their knowledge and expertise will continue to benefit the City, solidifying our financial strength and positioning us for future growth and stability. Eide Bailly, LLP has extensive experience auditing California Cities, Counties, School Districts, and Other Special Districts creating a vast knowledge of California Revised Statutes and California Administrative Codes. The firm also has extensive experience auditing the City of Palmdale – in depth knowledge of the City’s Departments and employees including operations, internal controls, and risks making the potential transition seamless while the new GASB standards are implemented.

FISCAL IMPACT
$75,000; savings due to vacant positions are available in the department’s salary and benefit accounts. $15,000 is budgeted and available in account 10115001-721410 Cont Svcs–Audit. $50,000 is to be transferred from 10115001-701000/705000 Salary/Benefits to 10115001-721410 Cont Svcs-Audit to cover this amendment.

STRATEGIC PLAN
Goal II: Ensure long-term fiscal health of the City and maintain funding for services.

A. 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
Report to Mayor and City Council
Re: First Amendment to Agreement with Eide Bailly
August 3, 2022

Page 3 ends

Prepared by: Janelle Samson, Director of Finance
Certified as to availability of Funds: Janelle Samson, Director of Finance Approved by: Ronda Perez, Interim City Manager
Approved as to form: Scott E. Porter, Acting City Attorney

ATTACHMENTS

1. Attachment ‘A’ – First Amendment to Agreement A-7499 FIRST AMENDMENT TO AGREEMENT A-7499

BETWEEN THE CITY OF PALMDALE AND EIDE BAILLY

This FIRST Amendment to Agreement No. A-7499 (“Agreement”) between the City of Palmdale and EIDE BAILLY is made and entered into this 01 day of JULY, 2022 by and between the City of Palmdale (hereinafter called “CITY”) and EIDE BAILLY (hereinafter called "CONSULTANT").

WHEREAS, the CITY and CONSULTANT entered into an agreement to provide:

Auditing services for the City of Palmdale including auditing of the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information, which collectively comprises the basic financial statements of the City as of and for each year of the Contract term.

WHEREAS, CONSULTANT represents that CONSULTANT has the expertise and is qualified to perform the services described in the Contract, and if required, is duly registered under the laws of the State of California.

NOW THEREFORE, the parties agree as follows:

Section 1 (Description of Work) Shall be Amended as follows to include the below:

K. GASB 87
CONSULTANT shall provide consulting services in connection with the implementation of GASB 87 pronouncement. This includes assistance with the inspection of leases for potential terms that trigger GASB 87 recognition. This will be completed in 2 phases.
-PHASE ONE
CONSULTANT shall review with the City’s staff, typical lease contracts and business areas that fall within GASB 87 and potential types of leases that are required under GASB 87 that may have potential qualifying lease arrangements.

CONSULTANT shall review all lease contracts and document the approach to determine the lease eligibility under GASB 87.

CONSULTANT shall provide a comprehensive list of all contracts reviewed and indicate whether they meet the GASB 87 definition for lessee/lessor and provide reason and documentation to support the decision.
-PHASE TWO
CONSULTANT shall gather and include in the list key data and information to determine, at a minimum, the lease term, payment terms, calculated lease liability/asset and deferred outflow/inflow for GASB 87 calculations. Such information will be input in the CONSULTANTS licensed software application, for leases that 1-4Concord - Document ID: generated after first signature meet the GASB 87 definition.

CONSULTANT shall provide a master schedule summarizing the calculations and other relevant information used to determine the value for each lease including current year expense and remaining life expense.

CONSULANT shall prepare and provide the appropriate journal entries for the yearend implementation of GASB 87 (fiscal year 2021/2022 – including current year and prior years’ restatement entries) and the footnote disclosures for the annual comprehensive financial report (ACFR).

CONSULTANT shall assist in developing on-going process and controls to maintain the lease inventory and accounting and reporting process CONSULTANT shall Respond to the City’s follow-up audit questions and provide additional information as needed to complete GASB 87 lease accounting and disclosures during the fiscal year 2021/2022 audit.

DELIVERABLES:
-PHASE ONE
CONSULTANT shall provide A comprehensive list of all contracts reviewed; indication whether they meet the GASB 87 definition for lessee/lessor and provide reason and documentation to support the decision.
- For leases that meet the GASB 87 definition, gather and include in the list key data and information to determine, at a minimum, the lease term, payment terms, calculated lease liability/asset and deferred outflow/inflow for GASB 87 calculations.

-PHASE TWO
CONSULTANT shall provide A master schedule summarizing the calculation and other relevant information used to determine the value for each lease including prior year expense, current year expense and remaining life expense.

CONSULTANT shall provide appropriate journal entries for the year end implementation of GASB 87 and the footnote disclosures for the annual comprehensive financial report.

CONSULTANT shall provide A matrix to track leases going forward and provide ability for finance staff to maintain and use a tool for yearend journal entries/accruals.

CONSULTANT shall provide ongoing support on follow-up questions on GASB 87, Leases accounting and disclosures.

L. COMPENSATED ABSENCES:

Obtain an understanding of:
2-4Concord - Document ID: generated after first signature -The systems/modules used to capture accruals for compensated absences -The procedures used to capture and reduce compensated absences balances on a per employee basis
- The procedures used to reconcile compensated absences balances (hours) between systems/modules
-Test the procedures on a sample basis and provide any recommendations.

Section 9 (Compensation) shall be amended as follows to include the below:

The compensation identified in Section 9 is amended to increase the total price of the Agreement by Seventy Five Thousand, for a not to exceed total contract price of Three Hundred Ninety -Eight Thousand Seven Hundred Ninety-Two dollars ($398,792).

Section 11 (Insurance) shall be amended as follows:

11.1.2. Professional Liability Insurance
- $5,000,000.00 with no deductible, or;
- Comparable alternatives as determined by the City Attorney; and - Policy form on a claims-made basis
All other terms and conditions remain in full force and effect.

3-4Concord - Document ID: generated after first signature In Witness Whereof, the parties hereto have caused this Contract to be executed and attested by their respective officers thereunto duly authorized.

CITY OF PALMDALE: EIDE BAILLY:

Ronda Perez Date
Interim City Manager
Roger Alfaro Date
Partner
ADDRESS FOR NOTICE:

CITY OF PALMDALE
38300 Sierra Highway Suite D
Palmdale, CA 93550
ADDRESS FOR NOTICE:

EIDE BAILLY
10681 Foothill Blvd., Ste. 300
Rancho Cucamonga, Ca 91730
APPROVE AS TO FORM:

Scott E. Porter
Acting City Attorney
ATTEST:

Shanae S. Smith
City Clerk
ATTEST: If Corporation
Secretary
4-4Concord - Document ID: generated after first signature 07/22/2022

City Council Staff Report
DATE: AUGUST 3, 2022
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: CITY MANAGER’S OFFICE – FINANCE DIVISION
DISTRICT: ALL
SUBJECT: APPROVE SECOND AMENDMENT TO PROFESSIONAL SERVICES

AGREEMENT WITH LANCE, SOLL, & LUNGHARD, LLP FOR AN
ADDITIONAL AMOUNT OF $27,400, NOT TO EXCEED AMOUNT OF
$237,400 FOR A FOUR (4) YEAR TERM THROUGH MARCH 30, 2026.

ISSUE
Approve Second Amendment to professional services Agreement with Lance, Soll, & Lunghard, LLP for an additional amount of $27,400, not to exceed amount of $237,400 for a four (4) year term through March 30, 2026.

RECOMMENDATION
Staff recommends that the City Council:

1. Approve Second Amendment to professional services Agreement A-7459 with Lance, Soll, & Lunghard, LLP for an additional amount of $27,400, not to exceed amount of $237,400 for a four (4) year term through March 30, 2026.

2. Direct the Acting City Attorney to finalize the Second Amendment to Agreement A- 7459 and authoriz e the Interim City Manager or her designee to execute the agreement, including making minor and non-substantive changes.

BACKGROUND
The City of Palmdale is required to produce annual financial statement package, commonly known as ACFR (Annual Comprehensive Financial Reports). ACFR is a set of financial statements for a state, municipality or other governmental entity that comply with the accounting requirements established by the Governmental Accounting Standard Board (GASB). It must be audited by an independent auditor using generally accepted government auditing standards. Because the city’s financial software (Munis) does not have the capability to produce those statements in a format required by GASB and other government bodies, third-party software was needed.

On August 1, 2021, the City of Palmdale engaged in an agreement with Lance, Soll, & Lunghard LLP, a CPA company, to provide CaseWare ACFR implementation, as well as its training and support . Also included in the agreement was to create a customized CaseWare templates to assist with the automation of the Annual Comprehensive Report to Mayor and City Council
Re: Approve Amendment to Agreement with Lance, Soll, & Lunghard, LLP August 3, 2022

Page 2 ends

Financial Report (ACFR) that consists of Financial Statements, Cashflow Statement, Management Discussion and Analyst, Notes, and Statistical Section.

DISCUSSION
The Second amendment to the agreement is being requested to provide additional on- site professional services to assist in the completion of the City’s Annual Comprehensive Financial Report (ACFR) for FY 2021-22. The Second amendment will amend the scope of services to include Senior level assistance to be provided on-site for a 40-hour work week to assist the Finance Department in completing this project.

Lance, Soll, & Lunghard LLP is the largest accounting firm in Orange County, California and has been in business for 85 years. Their knowledge and expertise will continue to benefit the City, solidifying our financial strength and positioning us for future growth and stability. They have extensive experience in financial reporting, getting the most out of CaseWare, automating accounting processes and providing support and training to California Cities, Counties, School Districts, and Other Special Districts.

FISCAL IMPACT
$27,400; savings due to vacant positions are available in the department’s salary and benefit accounts. Funds are to be transferred from 10115001-701000/705000 Salary/Benefits to Professional Services 10115001-721960 to cover this amendment.

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.

ATTACHMENTS

1. Second Amendment to Agreement A-7459
2nd AMENDMENT TO AGREEMENT A-7459
BETWEEN THE CITY OF PALMDALE AND LANCE, SOLL & LUNGHARD, LLP.

This 2nd Amendment to Agreement No. A-7459 (“Agreement”) between the City of Palmdale and LANCE, SOLL & LUNGHARD, LLP. is made and entered into this 3rd day of AUGUST, 2022 by and between the City of Palmdale (hereinafter called “CITY”) and LANCE, SOLL & LUNGHARD, LLP. (hereinafter called "CONSULTANT ").

WHEREAS, the CITY and CONSULTANT entered into an agreement to provide:

NOW THEREFORE, the parties agree as follows:

1. Amend Section 9, Compensation, of the Agreement to increase the total price by $27,400.00, for a not to exceed amount of $237,400.00, for on-site consulting services relating to the preparation of the City's FY 2021-22 Annual Comprehensive Financial Report (ACFR).

2. All other terms and conditions remain in full force and effect.

1-2Concord - Document ID: generated after first signature

In Witness Whereof, the parties hereto have caused this Contract to be executed and attested by their respective officers thereunto duly authorized.

CITY OF PALMDALE:

LANCE, SOLL & LUNGHARD, LLP.:

RONDA PEREZ Date

INTERIM CITY MANAGER

GAIL GRAY Date

TECHNOLOGY PARTNER
ADDRESS FOR NOTICE:

CITY OF PALMDALE
38300 SIERRA HIGHWAY SUITE D
Palmdale, CA 93550

ADDRESS FOR NOTICE:

LANCE, SOLL & LUNGHARD, LLP.
203 N. BREA BLVD., SUITE 203
BREA, CA 92821
APPROVE AS TO FORM:

Scott E. Porter
Acting City Attorney

ATTEST:

Shanae S. Smith
City Clerk
ATTEST: If Corporation

Secretary

2-2Concord - Document ID: generated after first signature Jul 19, 2022
Ammendment to extend ACFR Support Contract
Final Audit Report 2022-07-19
Created: 2022-07-19
By: Natalie Freitas ([email protected])
Status: Signed
Transaction ID: CBJCHBCAABAAyWiVZIWoZFS7wPaqF1fgF-c0rHkGStUi "Ammendment to extend ACFR Support Contract" History
Document created by Natalie Freitas ([email protected]) 2022-07-19 - 1:16:52 PM GMT- IP address: 189.204.200.163 Document emailed to Gail Gray ([email protected]) for signature 2022-07-19 - 1:18:12 PM GMT
Email viewed by Gail Gray ([email protected])
2022-07-19 - 1:18:19 PM GMT- IP address: 40.94.27.126
Document e-signed by Gail Gray ([email protected])
Signature Date: 2022-07-19 - 1:20:54 PM GMT - Time Source: server- IP address: 189.204.200.163 Agreement completed.
2022-07-19 - 1:20:54 PM GMT

City Council Staff Report
DATE: AUGUST 3, 2022
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: NEIGHBORHOOD SERVICES DEPARTMENT
DISTRICT: ALL
SUBJECT: ADOPT RESOLUTION NO. CC 2022-085, A RESOLUTION OF THE

CITY COUNCIL OF THE CITY OF PALMDALE, AUTHORIZING THE
SUBMISSION OF THE APPLICATION FOR THE 2022 LOCAL

EDWARD BYRNE MEMORIAL JUSTICE ASSISTANCE GRANT
(JAG) PROGRAM TO RECEIVE A GRANT ALLOCATION OF
$50,943
ISSUE
Adopt Resolution No. CC 2022-085, a resolution of the City Council of the City of Palmdale, authorizing the submission of the application for the 202 2 Local Edward Byrne Memorial Justice Assistance Grant (JAG) Program.

RECOMMENDATION
Staff recommends the City Council:

1. Adopt Resolution No. CC 2022-085 authorizing the submission of the application for the 2022 JAG grant.

2. Authorize the City Manager or their designee to execute any documents related to the application, acceptance, and implementation of the grant.

BACKGROUND
Since November 2005, the City has contracted for two (2) additional motorcycle deputies, bringing the total number of motorcycle deputies contracted with the Los Angeles Sheriff’s Department to f ive (5) and includes one (1) motorcycle sergeant . The two additional motor deputies have provided critical services in traffic and crime deterrence.

Each year the City sets goals to help reduce overall collisions and incidents . The City proposes to reduce and maintain overall collisions in the City b y 4%; reduce speed related collisions by 4%; reduce DUI/DWI collisions by 5%, and reduce the percentage of DUI/DWI related collisions involving an injury or fatality by 5% by June 30, 2023. In 2021, DUI/DWI collisions involving injury were reduced by 25.76 % and the percentage of DUI/DWI collisions resulting in a fatality were reduced by 50%. The two grant Report to Mayor and City Council
Re: Resolution No. CC 2022-085

Page 2 ends

deputies also issued 2,428 citations for hazardous violations, concentrating on the speed-related problem areas throughout the City, particularly around school zones. A total of 269 non-hazardous citations were also issued and 137 traffic related arrests were made.

The deputies are available to respond to calls for service and will work in coordination with the City’s Neighborhood Services Department to identify high-risk areas and other areas of concern, such as school zones. In addition, the deputies are responsible for conducting DUI/DWI checkpoints and neighborhood traffic operations to reduce speed.

The ten (10) identifiers associated with the grant funded activities include: alcohol testing, drugs, corrections, crime prevention, DWI, education, evaluation, impaired driving, policing, and traffic enforcement.

The two (2) motorcycle deputies, partially funded through this grant, will help mitigate traffic incidents from increasing and provide timely response to citizen complaints. Their efforts to maintain traffic safety and community safety, law enforcement priorities, will help reduce the number of overall collisions and incidents.

City staff will submit specific performance measure data as required under the award.

The City’s performance measures correlate to the goals, objectives and deliverables identified in the grant solicitation.

The City proposes utilizing the 2022 Edward Byrne Memorial Justice Grant (JAG) program allocation of $50,943 to continue to assist with the cost of two motor deputies.

FISCAL IMPACT
The 2022 JAG grant allocation of $50,943 will be utilized to continue funding two motorcycle deputies in account 10125002-721836-1072. The general fund will fund the remaining $404,659 for the cost of the two deputies.

STRATEGIC PLAN
Goal I: Maintain effective public safety and protection for life, property, and the environment.

A. Provide comprehensive and innovative safety services to prevent crime and promote a safe community.

Prepared by: Heather Nichols, Housing Coordinator
Certified as to availability of Funds: Janelle Samson, Director of Finance Approved by: Ronda Perez, Interim City Manager
Approved as to form: Scott Porter, Acting City Attorney

ATTACHMENTS
Report to Mayor and City Council
Re: Resolution No. CC 2022-085

Page 3 ends

1. Resolution No. CC 2022-05

2. Application

CITY COUNCIL

CITY OF PALMDALE, CALIFORNIA
RESOLUTION NO. CC 2022-085

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALMDALE APPROVING THE SUBMISSION OF A GRANT FROM THE U.S .

DEPARTMENT OF JUSTICE, 2022 LOCAL EDWARD BYRNE MEMORIAL

JUSTICE ASSISTANCE GRANT (JAG) PROGRAM

WHEREAS, the City of Palmdale is eligible to receive an allocation of $50,943 from the US Department of Justice , 2022 Local Edward Byrne Memorial Justice Assistance Grant (JAG) Program; and

WHEREAS, the City has utilized funds from previous JAG grants to go towards funding two motorcycle deputies , with $ 1,528.29 of those funds being allocated for required training; and

WHEREAS, the current grant of $50,943 will be utilized to continue funding two motorcycle deputies; and

WHEREAS, the City will contribute $404,659 to fully fund the two motorcycle deputy items.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PALMDALE, AS FOLLOWS:

SECTION 1. Approve the application and submission of the City of Palmdale’s Application for the 2022 Local Edward Byrne Memorial Justice Assistance Grant.

SECTION 2. Authorizes its City Manager or their designee to implement the City’s JAG grant program, to execute all documents and take all actions necessary and convenient to carry out and implement the grant agreement for the 2022 program year, and to administer the City’s obligations, responsibilities and duties to be performed thereunder;

SECTION 3. Authorizes the City Manager or their designee to update the City’s JAG program in accordance with the Office of Justice’s technical and regulatory requirements.

RESOLUTION NO. CC 2022-085

Page 2 of 2 ends

SECTION 4. The City Clerk shall certify to the adoption of this resolution.

PASSED, APPROVED and ADOPTED this 3rd day of August 2022.

_________________________________
Approved as to form: Steven D. Hofbauer, Mayor

ATTEST:

___________________________ _________________________________ Scott E. Porter Shanae S. Smith, City Clerk
Acting City Attorney

I, Shanae S. Smith , City Clerk of Palmdale, California, do hereby certify that the foregoing resolution was duly passed, approved, and adopted by the City Council of the City of Palmdale at a regular meeting of said Council held on the 3rd day of August 2022 by the following roll call vote:

AYES:

NOES:___________________________________________________________

ABSTAIN:______________________ABSENT:___________________________

Date:

Shanae S. Smith, City Clerk

City Council Staff Report
DATE: August 3, 2022
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: DEPARTMENT OF ECONOMIC AND COMMUNITY

DEVELOPMENT
DISTRICT: ALL
SUBJECT: APPROVE MEMORANDUM OF UNDERSTANDING BETWEEN

THE CITY OF PALMDALE AND ANTELOPE VALLEY ECONOMIC

DEVELOPMENT AND GROWTH ENTERPRISE (AV EDGE)
ISSUE
Approve Memorandum of Understanding Between the City of Palmdale and Antelope Valley Economic Development and Growth Enterprise (AV EDGE).

RECOMMENDATION
Staff recommends that the City Council:

1. Approve Agreement No. A-8013, a Memorandum of Understanding Between the City of Palmdale and Antelope Valley Economic Development and Growth Enterprise (AV EDGE).

2. Authorize the City Manager or her designee to prepare and execute all necessary documents.

BACKGROUND
AV EDGE was created when the Antelope Valley Board of Trade and the Greater Antelope Valley Economic Alliance (GAVEA) merged in 2019. Since its inception, the organization has been a key strategic partner in advancing economic development initiatives for the Palmdale community and surrounding Antelope Valley region.

The proposed Memorandum of Understanding (“MOU”) would solidify the partnership between the City and AV EDGE, as well as strengthen the region’s economic development efforts in response to the pandemic recovery.

The intended purpose of the MOU is to provide a mechanism for AV EDGE to serve as force multiplier of the City’s existing economic development staff, fostering collaboration and enhanced services to further regional economic development goals.

Report to Mayor and City Council
Re: Memorandum of Understanding Between the City of Palmdale and AV EDGE August 3, 2022

Page 2 ends

DISCUSSION
Several Palmdale businesses continue to struggle as a result of COVID-19 related closures and restrictions. AV EDGE aims to assist Palmdale small businesses, workers and aid tourism, travel and hospitality businesses that are dealing with the negative economic impacts created by the pandemic. Through the MOU, AV EDGE would allow the City to expand the number of services and assistance provided to the small business community. In addition, AV EDGE will provide quarterly reports detailing the compliance with a variety of deliverables that focus on business retention, attraction and expansion efforts. AV EDGE will focus on several deliverables including but not limited to:
• Meet with local businesses and industry representatives to understand ongoing challenges caused by the pandemic and facilitate resolutions by connecting businesses with available resources.
• Create and update an AV EDGE broker/site selector list to find users for industrial and commercial buildings that are vacant because of the negative economic impact of the pandemic. A regional site tour with brokers and site selectors will take place at least once per calendar year.
• Business forum to be held at least twice per calendar year. • Newsletter and email campaign highlighting new development and regional opportunities to be published at least quarterly and on the website. • Establish a Business Attraction Task Force that includes members of the City, utility companies, and brokers to support regional collaboration and prioritization of key projects.
• Represent the City at a minimum of four (4) industrial or commercial trade shows per calendar year.
• Coordinate tourism and marketing on a regional basis to assist local hotels that were impacted by the pandemic to increase occupancy rates. Marketing program to be negotiated with the Lancaster and Palmdale Tourism and Business Improvement Districts (TBIDs)

FISCAL IMPACT
Up to $650,000.00 of ARPA funds over three years beginning August 1, 2022 through July 31, 2025.

STRATEGIC PLAN
Goal II: Ensure long-tern fiscal health of the city and maintain funding for services.

A. Manage resources, costs, and liabilities to ensure the City’s long -term fiscal health.

Report to Mayor and City Council
Re: Memorandum of Understanding Between the City of Palmdale and AV EDGE August 3, 2022

Page 3 ends

Prepared by:

Certified as to availability of Funds:

Approved by:

Approved as to form:

Zach Glynn, Management Analyst I
Janelle Samson, Director of Finance
Ronda Perez, Interim City Manager
Scott E. Porter, Interim City Attorney

ATTACHMENTS
Agreement No. A-8013
A-1

MEMORANDUM OF UNDERSTANDING REGARDING REGIONAL MARKETING

This MEMORANDUM OF UNDERSTANDING REGARDING REGIONAL MARKETING (“MOU”) is made and entered into as of August 3, 2022 (“Effective Date”), by and between AV EDGE, a California nonprofit corporation (“AV Edge”), and CITY OF PALMDALE , a California municipal corporation and charter city (“City”) (AV Edge and City are sometimes singularly referred to as a “Party” and collectively referred to as the “Parties”).

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

1. Term of MOU. The term of this MOU shall commence on August 1, 2022 and expire on July 31, 2025 (“Term”), unless earlier terminated pursuant to the provisions below.

2. AV Edge’s Obligations. During the Term of this MOU, AV Edge agrees to and shall provide the services and perform the tasks described in the Schedule of Services and Deliverables that is attached hereto as Exhibit A and incorporated herein. AV Edge acknowledges that the source of funding is from Coronavirus State and Local Fiscal Recovery Funds established under the American Rescue Plan Act (31 C FR Part 35) ( “ARPA”). With ARPA funding the regulations dictate, among other things, the purpose, eligible use of the funds, and compliance with specific reporting requirements. All of these can be found at 31 CFR Part 35 (Regulations), which Regulations are incorporated herein and made a part of this contract. Further, specific terms and requirements to be followed by AV Edge are attached hereto as Exhibit B and incorporated herein by reference.

3. City’s Obligations. In consideration of AV Edge performing its obligations as described in section 2 of this MOU, City agrees to and shall pay to AV Edge the following amounts during the Term:
• $150,000.00 for the period of August 1, 2022 through July 31, 2023; • $200,000.00 for the period of August 1, 2023 through July 31, 2024; and • $300,000.00 for the period of August 1, 2024 through July 31, 2025;

The City’s payment to AV Edge under this section 3 shall be inclusive of and instead of all sponsorship, membership, and other forms of financial support City provided or agreed to provide AV Edge prior to the Effective Date.

4. Indemnification. AV Edge agrees to and shall indemnify, defend (with attorneys selected by City) and hold City, including its elected and appointed officials, employees, agents and representatives, harmless from and against any and all claims, actions, losses, liabilities, damages, costs and expenses (including, but not limited to, expert witness fees, attorneys’ fees and co sts) of any kind or nature which arise or in any way relate to AV Edge performing the services, tasks, and/or other obligations under this MOU. The provisions of this section shall survive the expiration or termination of this MOU.

5. Independent Contractors. The Parties hereto agree that each Party, and any of its agents, servants, or employees of each Party, in the performance of this MOU, shall act in an independent capacity and not as officers, servants, agents or employees of the other Parties.

6. Waiver. Any waiver with respect to any provision of this MOU shall not be effective unless in writing and signed by all Parties hereto. The waiver by any Party of any breach of any term,

Agreement No. A-8013

2 covenant, or condition herein contained shall not constitute a conti nuing waiver or a waiver of any subsequent breach of the same or any other term, covenant or condition herein contained.

7. Amendments; Integration. This MOU constitutes the entire agreement between the Parties on the matters addressed herein. This MOU cannot be orally modified. Any amendment or modification to this MOU must be in writing, signed by the Parties. It is mutually understood and agreed that no alterations or variation of the terms of this MOU shall be valid unless made in writing and signed by each of the Parties hereto, and that no oral understanding or agreement not incorporated herein, and no alterations or variations of the terms hereof unless made in writing between the Parties hereto, shall be binding on any of the Parties hereto.

8. Time of the Essence. Time is of the essence with respect to the performance of every provision of this MOU in which time of performance is a factor.

9. Counterparts. This MOU may be executed in identical counterpart copies, each of which shall be an original, but all of which taken together shall constitute the same agreement.

10. Notices. Any notices pursuant to this MOU shall be in writing and sent (i) by Federal Express (or other established express delivery service which maintains delivery records), (ii) by hand delivery, (iii) by certified or registered mail, postage prepaid, return receipt requested, or (iv) by email, if at least one other method is used, to the following addresses:

To AV Edge: AV Edge
41301 12th Street West, Suite D
Palmdale, California 93551
Attention: Drew Mercy
Email: [email protected]
To City: City of Palmdale
38300 Sierra Highway Suite A
Palmdale, California 93550
Attention: Ronda Perez
Email: [email protected]

11. Construction. This MOU shall not be construed against any Party that was involved in preparing it but shall be construed as if all Parties jointly prepared this MOU, and any uncertainty and ambiguity shall not be interpreted against any one Party.

12. Governing Law. This MOU is to be interpreted, enforced, and governed by and under the laws of the State of California, regardless of the conflicts of laws rules of any individual state.

13. Warranty of Authority. Each Party represents that it is authorized to enter into, execute, deliver, and perform this MOU, that it has all necessary authority from its boards, officers, directors, members, partners, or others whose authority or consent may be required to enter into this MOU, and that no other acts, votes, or other proceedings are necessary on the part of any Party to authorize this MOU.

14. Cooperation; Further Acts. The Parties agree to fully cooperate to accomplish the terms, purpose, and spirit of this MOU, including but not limited to executing such documents and taking such

Agreement No. A-8013

3 other actions as may be reasonably necessary to implement the purpose of this MOU.

15. Captions and Headings. The paragraph headings, captions, and titles used in this MOU are intended solely for convenience of reference and shall not in any manner amplify, limit, modif y, or otherwise be used in the interpretation of any of the provisions hereof.

16. Insurance. AV Edge, at its expense, shall always maintain in effect during the performance of work under this MOU not less than the following coverage and limits of insurance, which shall be maintained with insurers listed “A” or better in the Best’s Insurance Guide and authorized to do business in the State of California.

Workers’ Compensation and Employer’s Liability
- Workers’ Compensation -- coverage as required by the State of California - Employer’s Liability -- $1,000,000.00 each accident
$1,000,000.00 policy limit bodily injury
$1,000,000.00 each employee bodily injury by disease

Commercial General Liability
- $1,000,000.00 limit on a per occurrence basis
- $2,000,000.00 general aggregate limit

Commercial Automobile Liability
- $1,000,000.00 combined single limit including owned, non-owned and hired automobile coverage
All of AV Edge’s policies shall contain an endorsement providing that written notice shall be given to the City at least thirty (30) calendar days prior to termination, cancellation, or reduction of coverage in the policy.

Policies providing for bodily injury and property damage coverage shall contain the following:

A. An endorsement extending coverage to the City as an additional insured, as respects liability arising out of the performance of any work under the MOU. Such insurance shall be primary insurance, as respects the interest of the City, and any other in surance maintained by the City shall be considered excess coverage and not contributing insurance with the insurance required hereunder. The certificates shall state: “The City of Palmdale, Successor Agency to the Community Redevelopment Agency of the City of Palmdale, Palmdale Civic Authority, Housing Authority, Industrial Development Authority, Airport Authority, their officers, agents, employees and volunteers are named as additional insured”.

B. “Severability of Interest” Clause.

Promptly upon execution of this MOU, and prior to commencement of any work, AV Edge shall deliver to the City certificates of insurance and endorsements to all required policies demonstrating that AV Edge has the required coverage and showing the required named

Agreement No. A-8013

4 insured. Within five (5) days of written request from the City, Av Edge shall deliver to the City full and complete copies of all insurance policies required by this MOU.

The requirements as to the types and limits of insurance to be maintained by AV Edge are not intended to and shall not in any manner limit or qualify AV Edges liabilities and obligations under this MOU.

Any policy or policies of insurance that AV Edge elects to carry as insurance against loss or damage to its equipment and tools or other personal property used in the performance of this MOU shall include a provision waiving the insurer’s right of subrogation against the City.

All insurance coverage must be maintained throughout the duration of this MOU.

Acceptable Proof of Insurance:

ACORD Certificate of Insurance listing all coverage, limits, deductibles and insured; and endorsements for all applicable coverage if agent has authority to issue it; or additional insured Form CG20100704 and CG20370704 or equivalent must be provided for general liability coverage. Additional insured form CA0001 must be provided for automobile liability coverage.

Binders of insurance for all coverage. Agents must confirm that policy endorsements have been ordered from the respective insurance companies. Upon issuance, policy endorsements and a corresponding Certificate of Insurance listing all insurers and coverage must be submitted to the City Attorney.

Notwithstanding any other provision of this MOU, the City may immediately terminate this MOU if, at any time AV Edge fails to maintain the required insurance for any period of time or fails to comply with any of the insurance requirements listed above.

AV Edge shall require any and all subcontractor's working on its behalf to provide insurance coverages and limits that are based on the scope of work and nature of risk being performed by the subcontractor. Any and all subcontractors working on behalf of AV Edge shall be subject to all other insurance requirements that are stated herein.

Any deviation in this requirement will be AV Edges sole risk. AV Edge s insurance requirements in this Section will not be impacted and/or limited by such deviation.

17. Termination. The City reserves the right, in its sole discretion, to terminate this MOU with or without cause upon thirty (30) days written notice. In the event of such termination, AV Edge shall immediately stop all work hereunder, and shall also surrender to the Ci ty all finished or unfinished

Agreement No. A-8013

5 documents, processes, programs and other supplies and materials, which shall be the City’s property. Upon termination, all obligations of the City, including the payment of any additional funds, shall cease.

18. Dispute Resolution. All claims, disputes, and other matters in question between the City and AV Edge arising out of or relating to this MOU or the breach thereof shall, to the extent reasonably feasible, be resolved through good faith negotiations between the parties.

19. Ownership of Documents. All product, data, documents, programs and software including, but not limited to, research, field notes, investigations, analysis, studies, processes, software, instructions for use and other manuals, whether complete or incomplete, which are prepared or produced in the performance of this MOU are to be and remain the property of the City and shall be delivered to or left with the City upon the completion or termination of this MOU. AV Edge shall furnish the City , upon its request, originals and reproducible and electronic copies of product, data reports, studies and of all other documents listed above. Electronic copies shall be provided in an unprotected format which allows the City to copy, reproduce and makes changes as the City deems necessary.

20. Assignment. AV Edge shall not
delegate or assign its duties or rights hereunder, either in whole or in part, without the prior written consent of the City.

21. Nondiscrimination. In the performance of this MOU, AV Edge shall not discriminate on the grounds of race, religious creed, color, national origin, ancestry, age, physical disability, mental disability, medical condition including the medical condition of Acquired Immune Deficiency Syndrome (AIDS) or any condition related thereto, marital status, gender, gender identity, genetic information, gender expression, sex or sexual orientation, military and veteran status, in the selection and retention of employees and subcontractors and the procurement of materials and equipment. AV Edge shall also comply with the requirements of the Americans with Disabilities Act in the performance of the Agreement.

22. Conflict of Interest. AV Edge stipulates that its officers and employees do not now have a conflict of interest and it further agrees for itself, its officers and its employees that it will not contract for or accept employment for the performance of any work or services with any individual business, corporation or government unit that would create a conflict of interest in the performance of its obligations pursuant to this MOU or which would cause AV Edge to be “financial interested” (as provided in California Government Code Section 1090 et seq. or 87100 et seq.) in any contract or decision made by the City on any matter. Av Edge shall not employ any City official or employee to perform any work required pursuant to this MOU.

23. Binding Agreement. This MOU shall be binding upon each of the Parties and shall be enforceable by any Party against any of the other Parties. This MOU shall also be binding upon the Parties respective heirs, administrators, representatives, executors, successors, and assigns, and shall inure to the benefit of each party and to their respective heirs, administrators, representatives, executors, successors, and assigns.

Agreement No. A-8013

6 AV EDGE,
a California nonprofit mutual benefit
corporation

By: _________________________________
Bret Banks, President

CITY OF PALMDALE,
a charter city and California municipal
corporation

By: ______________________________
Ronda Perez, Interim City Manager

APPROVE AS TO FORM:

____________________________
Scott E. Porter
Interim City Attorney

ATTEST:

____________________________
Shanae S. Smith
City Clerk

A-1

EXHIBIT A

SCHEDULE OF SERVICES AND DELIVERABLES
AV Edge will assist Palmdale small businesses, workers, and aid tourism, travel and hospitality businesses that are dealing with the negative economic impacts created by the pandemic. The economic recovery has been slow, and the City anticipates ongoing challenges created from the resurgence of positive COVID-19 cases across LA County. The City’s partnership with AV Edge will allow the City to expand the number of services and assistance provided to the small business community. AV Edge shall provide quarterly reports detailing compliance with the below deliverables. Example information would include events/forums hosted; prospect leads generated/any prospect meetings held, grants applied for and outcomes, when available, etc. In consideration of the payment described in Section 3 of the MOU, AV EDGE.

Business Attraction, Retention and Expansion
• Meet with Palmdale based businesses to understand any ongoing challenges caused by pandemic.

AV Edge will coordinate meetings with City quarterly and connect businesses with any available resources through regional sponsorships, governmental assistance, and up-to-date digital resources. • Establish, maintain, and update an AV Edge broker/site selector contact list, consisting of brokers in Los Angeles and Kern Counties, to find users for industrial and commercial buildings that are vacant due to the pandemic. AV Edge to provide quarterly updates on vacancies filled and remaining available locations.
• Forum to be held at least twice per calendar year, providing regional development highlights; site opportunities; networking; and an opportunity for City to feature key projects. • Regional site tour with brokers and site selectors at least once per calendar year. • Broker newsletter/e-mail campaign highlighting new development and regional opportunities, to be published at least quarterly and published on the website (City to assist in providing appropriate, updated content).
• Establish a Business Attraction Task Force which includes members from the Cities, utility companies, and brokers to support regional collaboration and prioritization of key projects. The task force would also provide input on which trade shows , minimum of four (4) to attend and be prepared to participate in those prospect meetings.
• Representation at a minimum of four (4) industrial or commercial trade shows per calendar year, quarterly, to be prioritized through mutual consent of the Parties. • Coordinate tourism marketing on a regional basis to assist local hotels that were impacted by the pandemic to increase occupancy rates. Specific parameters and budgets for such a marketing program shall be negotiated with the Lancaster and Palmdale Tourism and Business Improvement Districts (TBIDs), with the involvement of the Cities. Reporting to demonstrate the impacts of the effort to be provided twice annually.

In addition to the services mentioned above, AV Edge will continue to provide the fol lowing at no cost to the City:
• Recognition in AV Edge event marketing materials including but not limited to handouts, PowerPoints, presentations, and sponsorship identification

Agreement No. A-8013

A-2

• Recognition in AV Edge publications including the annual Economic Roundtable Report and Demographics summary in the form of the City logo.
• Acknowledgement on AV Edge website in the form of the City logo on the home page as well as conference sponsors page with direct link to City website. • Opportunity to speak at the annual Business Outlook Conference. • To facilitate collaboration, the City shall be entitled to one (1) voting seat on the nine -member Executive Committee (City Representative). The City Representative shall also serve on the Board of Directors.
• Annual Economic Roundtable Report, an economic and demographic report geared toward an audience of site selectors and development prospects, in which the City shall be entitled to a minimum of a two-page color spread reflecting content of City’s choosing as appropriate for said audience. Such as milestones, retail updates, vision statement, community trends, opportunity zones with key staff and elected officials noted. Within the Roundtable Report there will be a minimum of twelve -page color demographic pamphlet including comparisons of population characteristics, median housing cost, average household income, education and workforce by occupation, employment by sector, and cost of living statistics among neighboring regional cities.

Roundtable Report should be released each year in conjunction with the spring Business Summit, but no later than June 30 of said year.
• Labor Market Study, to be published at a minimum of every other year beginning in 2022. The data from this report will assist the City in creating new workforce development and training programs to assist individuals seeking employment.

B-1

EXHIBIT B

ARPA REQUIREMENTS

ARPA Regulations, 31 CFR Part 35 (“Regulations”) are incorporated herein and made a part of this Contract
AV EDGE agrees to be bound by the reporting requirements set out in the Regulations. This includes submitting quarterly reports by the 15th of the month following the end of each quarter to the Director of Finance. The reports must include, but is not limited to, the use of the funds, documentation/receipts of the funds spent, description of the project and status of completion of the project. The Director of Finance may require additional information of AV EDGE for compliance with ARPA Regulations.

AV EDGE, in the performance of this Contract and as a sub-recipient of ARPA funds, as well as all of its subcontractors, must comply with the following:

1. AV EDGE, and any and all of its subcontractors, must ensure that they do not deny benefits, services or otherwise discriminate on the basis of race, color, national origin (including limited English proficiency), disability, age, or sex (including sexual orientation and gender identity) in accordance with Title VI of the Civil Rights Act of 1964, Public Law 88- 352, 42 U.S.C. 2000d- 1 et seq., and the Department's implementing regulations, 31 CFR part 22; Section 504 of the Rehabilitation Act of 1973 (Section 504), Public Law 93- 112, as amended by Public Law 93- 516, 29 U.S.C. 794; Title IX of the Education Amendments of 1972 (Title IX), 20 U.S.C. 1681 et seq., and the Department's implementing regulations, 31 CFR part 28; Age Discrimination Act of 1975, Public Law 94-135, 42 U.S.C. 6101 et seq., and the Department implem enting regulations at 31 CFR part 23. AV EDGE will be required to submit data showing compliance with the above.

2. The Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards found at 2 CFR Part 200 Appendix II.

3. The Clean Air Act (42 U.S.C. 7401 et seq.) and the Federal Water Pollution Control Act (33 U.S.C. 1251et seq.) and all applicable standards, orders or regulations.

4. The Byrd Anti-Lobbying Amendment (31 U.S.C. 1352) regulations regarding restrictions on lobbying and required certificates.

5. Section 2 CFR 200.323 regarding Section 6002 of the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act (EPA guidelines at 40 CFR Part 247.

6. Section 200.322 of 2 CFR 200.322, Domestic preferences for procurements.

City Council Staff Report

DATE: AUGUST 3, 2022
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: PUBLIC WORKS DEPARTMENT

MAINTENANCE DIVISION
DISTRICT: ALL
SUBJECT: AWARD IFB 22-005-3400 BACKFLOW PREVENTION DEVICE

TESTING, REPAIR & REPLACEMENT AND APPROVE AGREEMENT

WITH GREENE BACKFLOW IN AN AMOUNT NOT TO EXCEED
$240,000 OVER THE CONTRACT TERM.

ISSUE
Award IFB 22-005-3400 Backflow Prevention Device Testing, Repair & Replacement and approve agreement with Greene Backflow in an amount not to exceed $ 240,000 over the contract term?

RECOMMENDATION
Staff recommends that the City Council:

1. Award IFB 22-005-3400 Backflow Prevention Device Testing, Repair & Replacement to Greene Backflow;

2. Approve Agreement No. A -7971 with Greene Backflow for annual backflow prevention device testing and as needed repairs and replacements in an amount not to exceed $ 240,000 for a three (3) year contract term with two (2) one -year options to extend; and

3. Authorize the Interim City Manager or her designee to execute Agreement No.

A-7971 with Greene Backflow in the amount of $240,000, including making minimal and/or non-substantive changes.

BACKGROUND
The City administers service agreements with contractors that specialize in various professional disciplines to assist with department operations, such as backflow prevention device testing, certification, and repair and replacement services.

The Public Works Maintenance Division has approximately 600 backflow prevention devices that require annual testing and certifica tion. By utilizing a contractor specialized in these services, it ensures that certifications are completed and submitted to the regulatory agency on time and comply with required guidelines. The contractor also Report to Mayor and City Council
Re: Award IFB 22-005-3400 and Approve Agreement No. A-7971 with Greene Backflow August 3, 2022

Page 2 ends

provides test reports and performs visual inspections on each device. This identifies if a device is not in compliance, is defective, has been vandalized, and/or if there is any other cause that may affect it passing the certification test. Consequently, City staff is informed of any needed repairs, replacements, or freeze protection measures. The contractor may also be used to perform smaller repairs and to r ebuild and replace devices which can include the removal and replacement of an enclosure slab, replacing ball valves, and excavation to replace elbows, nipples, and unions.

The services provided by the backflow prevention device contractor supplements the work performed by City Maintenance staff to remain in compliance, meet service demands, and further the efficiency of operations.

DISCUSSION
The City released Invitation for Bids No. 22-005-3400 for Backflow Prevention Device Testing, Repairs & Replacements on April 26, 2022. Notification of the IFB release was sent electronically to 332 registered vendors in the City’s PlanetBids vendor database.

The solicitation was posted on the City’s website and published in the Antelope Valley Press on April 26, 2022 and May 1, 2022.

Two (2) response s were received on May 26, 2022 from 1) Greene Backflow (Santa Clarita, CA) and 2) Verne’s Plumbing, Inc. (Buena Park, CA). However, the latter company did not meet the bid requirements and as a result the City rejected Verne’s Plumbing, Inc.’s bid offer in writing on June 1, 2022. Therefore, Greene Backflow’s bid proposal was the only one evaluated.

Evaluation Criteria
Greene
Backflow
Ability to Perform the Services
35 Points Maximum
Qualification and ability of the bidding Contractor firm to provide the services as outlined in the scope of services and/or work . Currently listed as an approved tester with the Los Angeles County Dept of Public Health/Cross Connection Control.

35 Past Performance/Experience
35 Points Maximum
The Contractor’s recent experience in conduction work for contracts of similar scope, complexity, and magnitude, particularly for government agencies.

35 Cost Proposal
30 Points Maximum
The bid costs and rates. Pa yment of prevailing wage is required. Determination whether proposed costs are realistic, complete, and reasonable in relation to the IFB requirements.

30 Bid Proposal Total Points (100 Points Maximum Score): 100 Report to Mayor and City Council
Re: Award IFB 22-005-3400 and Approve Agreement No. A-7971 with Greene Backflow August 3, 2022

Page 3 ends

Three staff evaluators determined that Greene Backflow exceeded the required qualifications and abilities to perform the requested services outlined in IFB 22-005-3400 for Backflow Prevention Device Testing, Repair & Replacement.

Staff recommends that th e C ity Council award IFB 22-005-3400 Backflow Prevention Device Testing, Repair & Replacement and approve Agreement No. A -7971 to Greene Backflow.

FISCAL IMPACT
The total contract cost for backflow prevention device testing, repairs and replacements is fo r an amount not to exceed $ 240,000.00. Sufficient funds are budgeted across Contract Services line items for the following accounts over the contract term: Facility Maintenance (10133005); Landscape Assessment Districts (25133003); General Benefit Landscape Areas (10133003); Park Maintenance (10133002); Palmdale Transportation Center and Park-N-Rides (20333005); and Sewer Maintenance (25433004).

STRATEGIC PLAN
Goal II: Ensure long-term fiscal health of the City and maintain funding for services.

A. Manage resources, costs, and liabilities to ensure the City’s long-term fiscal health.

Goal III: Invest in infrastructure to improve community livability.

B. Seek cost effective, customer focused methods of service delivery.

C. Plan and maintain safe and attractive neighborhoods, streets, facilities, and public spaces with exciting programming that promotes active fun for everyone.

Prepared by: Chuck Heffernan, Director of Public Works
Certified as to availability of Funds: Janelle Samson, Director of Finance Approved by: Ronda Perez, Interim City Manager
Approved as to form: Scott E. Porter, Acting City Attorney

ATTACHMENTS

1. Agreement No. A-7971 Greene Backflow

AGREEMENT NO. A-7971

CONTRACT FOR SERVICES

BETWEEN THE CITY OF PALMDALE AND GREENE BACKFLOW

This CONTRACT for services (“Contract” herein) is made and entered into this 3rd day of August, 2022, by and between the City of Palmdale, a public body corporate and politic, (hereinafter called “CITY”), and GREENE BACKFLOW, a California Corporation , (hereinafter called “CONTRACTOR”). The term of this Contract is Three (3) Years , commencing on August 03, 2022, with CITY reserving the option to extend the agreement for 2 additional terms of one year each.

RECITALS
WHEREAS, CONTRACTOR represents that CONTRACTOR has the expertise and is qualified to perform the services described in this Contract.

NOW THEREFORE, CITY and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as follows:
1 CITY PROJECT MANAGER
To provide the services required by this Contract, CONTRACTOR shall act under the authority and approval of Public Works Director/designee, who shall oversee this Contract, the work performed by CONTRACTOR, assist CONTRACTOR with any necessary information, audit billings, and approve payments. The CONTRACTOR shall channel all contacts and requests through the City project manager. 2 DESCRIPTION OF WORK

2.1 CONTRACTOR shall provide the following services in a manner satisfactory to CITY:

CONTRACTOR shall provide all labor, materials, equipment, transportation, and services required to inspect, test, repair, and replace backflow prevention devices. CONTRACTOR shall report on all backflow prevention devices identified by the CITY. All work shall be in accordance with USC, Foundation for Cross-Connection Control and Hydraulic Research Prevention Assembly Field Test Procedures, as described in the current edition of the USC- FCCHD Manual for Cross-Connection Control.

Backflow Prevention Device Testing and Certification is required on an annual basis.

Currently, there are approximately 600 individual backflow prevention devices that require testing. Most certification notices will be provided to the Contractor in packets of 20 or more devices to test at one time, with single test notices occurring infrequently throughout the year.

The nature of these certifications requires a timely response from the Backflow Testing Contractor to ensure certifications are completed and submitted by the due date specified by each regulatory agency.

It is anticipated that various devices will require repairs in order to pass the certification tests.

The CONTRACTOR will notify the Landscape Superintendent or appointed designee of necessary repairs to devices larger than 2” and gain authorization prior to performing the necessary work.
1-16Concord - Document ID: generated after first signature Testing Equipment
All equipment shall have a current calibration certification. CONTRACTOR shall provide current testing gauge calibration certificate with quote.

Test Reports
Reports, for new and existing backflow prevention devices shall be completed on the respective regulatory agency approved form provided by the City of Palmdale and shall include the address of the meter location addition to all other standard form information.

Reports shall be complete, in legible printing or typing and signed by the tester.

CONTRACTOR shall mail reports to each respective regulatory agency prior to the due date specified and submit a copy of each report to:

City of Palmdale
Attn: Landscape Superintendent
39110 3rd Street East, Suite C
Palmdale, Ca. 93550
Visual Inspection
CONTRACTOR shall visit the job site and inspect each backflow prevention device. If the device cannot pass because the unit is not in compliance, is defective, vandalism has occurred, and/or any other cause, CONTRACTOR will notify the City of Palmdale’s Landscape Superintendent or appointed designee of necessary repairs on devices larger than 2” or the need to replace any device. CONTRACTOR shall report to Landscape Superintendent or appointed designee any backflow prevention device in need of freeze protection.

Certification
Annual testing and certification for all backflow devices will be completed within 30 days of notification by the City of Palmdale and 30 days from each respective regulatory agency. The tests will be completed in full compliance with all guidelines referenced in the Scope of Work.

If a device fails, CONTRACTOR is to notify the Landscape Superintendent or appointed designee of necessary repairs on devices larger than 2” or the need to replace the device.

The City of Palmdale Landscape Superintendent or designee will then direct the CONTRACTOR to proceed with repairs or replacement on a case-by-case basis.

Backflow Rebuild or Replacement
When a backflow prevention device requires replacement, CITY may have the CONTRACTOR remove and replace device according to the appropriate bid item hourly rate. Materials will be provided by the City of Palmdale and installation will be done according to City of Palmdale Engineering Detail I-7, “Typical Backflow Preventer inside Enclosure.” See Appendix A. Backflow Prevention Device Re-builds or Replacement can include removal and replacement of enclosure slab, replacing ball valves, and excavation to replace elbows, 2-16Concord - Document ID: generated after first signature nipples, and unions.

Licenses and Certifications
At all times during the term of this Contract, Contractor shall possess a valid and current Specialty Contractor License consisting of Class C-36 Plumbing license(s) to perform the required work. Contractor's CSLB license number is 986747. Contractor’s. Contractor’s DIR registration number is 1000022675.

Contractor shall provide proof of completion and passing of an approved cross connection course equivalent to the American Water Works Association (AWWA) of USC-FCCHD courses and must be currently listed as an approved tester with the Los Angeles County Department of Public Health/Cross Connection Control.

Contractor hereby certifies that it holds the required license(s) and certification(s).

Prevailing Wage
This Contract calls for work to be performed constituting public works. All labor is to be paid at prevailing wage rates. CONTRACTOR and all subcontractors must be registered with the State of CA Department of Industrial Relations (DIR) as a public works contractor for the duration of the agreement and is responsible for any and all registration and/or renewal fees.

CITY may request certified payroll records for any work performed under the term of the agreement.

2.2 CONTRACTOR shall have no claim for compensation for any services or work, which has not been authorized by CITY’s Authorization to Proceed.

2.3 CONTRACTOR shall not accept any change of scope, or change in contract provisions, to this Contract unless issued in writing, as a contract change order or amendment and signed by CITY. Any extensions of time must be mutually agreed upon in writing and executed by both parties.

2.4 CONTRACTOR shall maintain in current status all Federal, State, and local licenses and permits required for the operation of the business conducted by the CONTRACTOR as applicable to this contract.

2.5 All work supplied under this Contract shall be fully guaranteed by CONTRACTOR for a minimum period of 365 days from the date of acceptance by CITY. Any defects of design, workmanship, or materials that would result in non-compliance with the Contract specifications shall be fully corrected by CONTRACTOR (including parts and labor) without cost to CITY. The written warranty shall be included with the delivered products to the using Department.

2.6 CITY shall provide to CONTRACTOR, without charge, all data, program information, including reports, records, maps, and other information, now in CITY’s possession, which may facilitate the timely performance of the work.
3 CONTRACTOR’S KEY PERSONNEL
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3.1 Key Staff. CITY reserves the right to review and approve CONTRACTOR’S staff including all subcontractors to be assigned to any project by CONTRACTOR during the term of this Contract.

This Contract has been awarded to CONTRACTOR based partially on the key personnel proposed to perform the services required herein. CONTRACTOR shall not change nor substitute any of these key staff for work on this Contract without prior written approval by CITY.

CONTRACTOR’s Team and Key Personnel are as follows:

Candace Guzman:

CFO/President; AWWA Backflow Prevention Assembly Tester; and LA County Dept. of Public Health/Cross Connection Control Certified Backflow Tester Joey Guzman:

AWWA Backflow Prevention Assembly Tester; and LA County Dept. of Public Health/Cross Connection Control Certified Backflow Tester
This Services Contract has been awarded to CONTRACTOR based on its representation that those personnel and subcontractors submitted as part of its bid and listed above will perform the portions of the work listed above.

CONTRACTOR shall not deviate nor substitute any of these team members without prior written approval by CITY.

3.2 Subcontractors. During the performance of the Agreement, CONTRACTOR may engage such additional SUBCONTRACTORS as may be required for the timely completion of this Agreement. In the event of subcontracting, the sole responsibility for fulfillment of all terms and conditions of this Agreement rests with CONTRACTOR.

CONTRACTOR shall not enter into any Subcontract under this Contract for the performance of this Contract without the advance written approval of CITY. The subcontract shall incorporate by reference the terms and conditions of this Contract.

3.3 Direct Responsibility. All services required under this Contract shall be performed by CONTRACTOR, or under CONTRACTOR’s direct supervision, and all personnel shall possess the qualifications, permits and licenses required by State and local law to perform such services.

3.3.1 CONTRACTOR shall be solely responsible for the satisfactory work performance of all personnel engaged in performing services required by this Contract, and compliance with all reasonable performance standards established by CITY.

3.3.2 CONTRACTOR shall be responsible for payment of all CONTRACTOR’s employees’ and subcontractor’s wages and benefits and shall comply with all requirements pertaining to the employer’s liability, workers’ compensation, unemployment insurance, and Social Security.

3.3.3 CONTRACTOR shall indemnify and hold harmless CITY, and its respective officers, agents and employees from and against all claims, demands, damages or costs arising from 4-16Concord - Document ID: generated after first signature CONTRACTOR’s acts or omissions with respect to any liability, damages, claims, costs and expenses of any nature arising from alleged violations of personnel practices. 4 ACCEPTANCE AND DOCUMENTATION
Each task shall be reviewed and approved by the Contract Project Manager to determine acceptable completion.

4.1 Records. The CONTRACTOR shall retain and shall contractually require each SUBCONTRACTOR to retain all data and other “records” relating to the acquisition and performance of the Contract for a period of five years after the completion of the Contract.

4.2 Property of CITY. All materials, including reports, computer programs and other deliverables, supplied or created under this Contract are the sole property of CITY.

CONTRACTOR is not entitled to a patent or copyright on those materials and may not transfer the patent or copyright to anyone else. CONTRACTOR shall not use or release these materials without the prior written consent of CITY.

4.3 Products. All equipment, materials, parts, and other components incorporated in the work or services performed pursuant to this Contract shall be new, or the latest model and of the most suitable grade for the purpose intended. All work shall be performed in a skilled and workmanlike manner.
5 PRICE
CITY shall pay to CONTRACTOR an amount not to exceed Two Hundred Forty Thousand dollars ($240000.00) for the completion of all the work and services described in Section 2, which sum shall include all costs or expenses incurred by CONTRACTOR, payable as follows:

YEAR 1: July 1, 2022 - June 30, 2023
Item U/M Price
Inspect, test, and certify backflow prevention device (less than 20 device certification notices per packet) Per Device $55.00 Inspect, test, and certify backflow prevention device (more than 20 device certification notices per packet) Per Device $52.00 Retest Fee after repair or replacement of device Per Device $10.00 Labor Rate - Backflow prevention device repair Per Hour $78.00 Labor Rate - Backflow prevention device rebuild or replacement (Material provided by the City) Per Hour $78.00
Call Out Repair (Per Call Out Price + Standard Labor Rate and Materials) Per Call Out $75.00
Material mark-up on factory replacement parts Percentage 20%

YEAR 2: July 1, 2023 - June 30, 2024
Item U/M Price
5-16Concord - Document ID: generated after first signature Inspect, test, and certify backflow prevention device (less than 20 device certification notices per packet) Per Device $57.00 Inspect, test, and certify backflow prevention device (more than 20 device certification notices per packet) Per Device $53.00 Retest Fee after repair or replacement of device Per Device $10.00 Labor Rate - Backflow prevention device repair Per Hour $78.00 Labor Rate - Backflow prevention device rebuild or replacement (Material provided by the City) Per Hour $78.00
Call Out Repair (Per Call Out Price + Standard Labor Rate and Materials) Per Call Out $75.00
Material mark-up on factory replacement parts Percentage 20%

YEAR 3: July 1, 2024 - June 30, 2025
Item U/M Price
Inspect, test, and certify backflow prevention device (less than 20 device certification notices per packet) Per Device $58.00 Inspect, test, and certify backflow prevention device (more than 20 device certification notices per packet) Per Device $54.00 Retest Fee after repair or replacement of device Per Device $10.00 Labor Rate - Backflow prevention device repair Per Hour $80.00 Labor Rate - Backflow prevention device rebuild or replacement (Material provided by the City) Per Hour $80.00
Call Out Repair (Per Call Out Price + Standard Labor Rate and Materials) Per Call Out $75.00
Material mark-up on factory replacement parts Percentage 20%

YEAR 4: July 1, 2025 - June 30, 2026 *
Item U/M Price
Inspect, test, and certify backflow prevention device (less than 20 device certification notices per packet) Per Device $60.00 Inspect, test, and certify backflow prevention device (more than 20 device certification notices per packet) Per Device $55.00 Retest Fee after repair or replacement of device Per Device $10.00 Labor Rate - Backflow prevention device repair Per Hour $80.00 Labor Rate - Backflow prevention device rebuild or replacement (Material provided by the City) Per Hour $80.00
Call Out Repair (Per Call Out Price + Standard Labor Rate and Materials) Per Call Out $75.00
Material mark-up on factory replacement parts Percentage 20%

YEAR 5: July 1, 2026 - June 30, 2027 *
Item U/M Price
6-16Concord - Document ID: generated after first signature Inspect, test, and certify backflow prevention device (less than 20 device certification notices per packet) Per Device $62.00 Inspect, test, and certify backflow prevention device (more than 20 device certification notices per packet) Per Device $56.00 Retest Fee after repair or replacement of device Per Device $10.00 Labor Rate - Backflow prevention device repair Per Hour $80.00 Labor Rate - Backflow prevention device rebuild or replacement (Material provided by the City) Per Hour $80.00
Call Out Repair (Per Call Out Price + Standard Labor Rate and Materials) Per Call Out $75.00
Material mark-up on factory replacement parts Percentage 20%

Inspect, Test, and Certify All Backflow Prevention Devices (Quantity = 600)
Price per
Device
(less than 20
devices)
Estimated
Annual
Cost
YEAR 1: July 1, 2022 - June 30, 2023 $55.00 $33,000.00 YEAR 2: July 1, 2023 - June 30, 2024 $57.00 $34,200.00 YEAR 3: July 1, 2024 - June 30, 2025 $58.00 $34,800.00 YEAR 4: July 1, 2025 - June 30, 2026 * $60.00 $36,000.00 YEAR 5: July 1, 2026 - June 30, 2027 * $62.00 $37,200.00

* Option to Extend year

After notification to pick-up test forms, CONTRACTOR shall submit all completed forms to CITY (Landscape Superintendent or appointed designee) prior to CITY's due date.

Material mark-up requirements: Supplier/vendor invoice must be submitted with invoice where materials were purchased by CONTRACTOR and marked up to CITY. Material mark- up will not be considered without this documentation showing CONTRACTOR costs/payments for materials.

All labor shall be paid at prevailing wage rates. CONTRACTOR is responsible for determining proper wage classification. CITY may request certified payroll records for any work performed under the terms of this Agreement.

5.1 An application for payment form must be submitted to CITY which shall include the following: a clear, detailed invoice reflecting work being billed for, a summary sheet showing percentage of work completed to date, amount/percent billed to date and current status of all tasks within a project; any/all backup documentation supporting the above items. Work schedule updates must also be included with the payment requests.

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5.2 CONTRACTOR shall maintain adequate records and shall permit inspection and audit by CITY of CONTRACTOR’s charges under this Contract. CONTRACTOR shall make such records available to CITY during normal business hours upon reasonable notice.

Nothing herein shall convert such records into public records, and they will be available only to CITY and any specified public agencies. Such records shall be maintained by CONTRACTOR for one (1) year following completion of the work under this Contract unless a longer period of time is required by state or federal law, in which event CONTRACTOR shall retain its records for the time required by such laws.

5.3 Payment. A separate invoice shall be issued for each shipment of material or service performed, and no payment will be issued prior to receipt of material and/or completion of specified services and receipt of a correct invoice.
6 TAXES

6.1 CONTRACTOR shall pay all sales, consumer, use, and other similar taxes required to be paid by CONTRACTOR in accordance with state and local laws.

6.2 CONTRACTOR is an independent contractor and shall have no power or authority to incur any debt, obligation, or liability on behalf of CITY. No person employed by CONTRACTOR or acting on its behalf, in connection with this Contract shall be considered the Agent or employee of CITY.

6.3 CONTRACTOR shall be required to obtain a current City of Palmdale business license, as required by the Palmdale Municipal Code, before an Authorization to Proceed is issued.

6.4 When equipment, materials or supplies generally taxable to CONTRACTOR are eligible for a tax exemption due to the nature of the work, CONTRACTOR shall assist the City in applying for and obtaining such tax credits and exemptions, which shall be paid or credited to the City.
7 PATENT FEES AND ROYALTIES
CONTRACTOR shall pay all license fees and royalties and assume all costs incident to the use, in the performance of the work or the incorporation in the work of any invention, design, process, program, product or device which is the subject of patent rights or copyrights held by others. If a particular invention, design, process, program, product or device is specified in the contract documents for use in the performance of the work and if, to the actual knowledge of CITY, its use is subject to patent rights or copyrights calling for the payment of any license fee or royalty to others, the existence of such rights shall be disclosed by CITY in the contract documents. CONTRACTOR shall indemnify and hold harmless CITY and anyone directly or indirectly employed by CITY from and against all claims, damages, losses and expenses (including attorneys' fees) arising out of any infringement of patent rights or copyrights incident to the use in the performance of the work, or resulting from the incorporation in the work of any invention, design, process, program, product or device not specified in the contract documents, and shall defend all such claims in connection with any alleged infringement of such rights.
8 INDEMNIFICATION
8-16Concord - Document ID: generated after first signature To the fullest extent permitted by law, CONTRACTOR and any subcontractors working on its behalf agree to indemnify CITY, its officers, employees, agents and elected and appointed boards (hereinafter “Indemnified Parties”) for any loss, claim, demand, cause of action, cost, expense, damage, obligation or liability which arises out of or is in any way connected with the performance of any work under this agreement, including any acts or omissions, willful misconduct or negligent conduct, whether active or passive, on the part of CONTRACTOR, or its subcontractors, and regardless of any acts, omissions or negligence (whether active or passive) of any person or entity indemnified hereunder. At their own expense, CONTRACTOR and, as applicable, any subcontractors working on its behalf, shall defend any suit, claim or action against the Indemnified Parties founded upon such loss, claim, demand, cause of action, cost, expense, damage, obligation or liability. CONTRACTOR shall ensure that the contract of any subcontractor working under this agreement contain an indemnity agreement, requiring the subcontractor to indemnify and defend the Indemnified Parties pursuant the terms set forth above. CONTRACTOR shall indemnify the Indemnified Parties, and save it harmless from any and all loss, damage, costs, expenses and attorney's fees suffered or incurred on account of any breach of the aforesaid obligations and covenants, and any other provision or covenant of this agreement. 9 INSURANCE

9.1 CONTRACTOR, at its expense, shall maintain in effect at all times during the performance of work under this Contract not less than the following coverage and limits of insurance, which shall be maintained with insurers listed “A” or better in the Best’s Insurance Guide and authorized to do business in the State of California. Proof of Insurance, as identified in Section 9.8, must be reviewed and accepted by the City Attorney.

9.1.1 Workers’ Compensation and Employer’s Liability
 Workers’ Compensation -- coverage as required by the State of California  Employer’s Liability -- $1,000,000.00 each accident $1,000,000.00 policy limit bodily injury
$1,000,000.00 each employee bodily injury by disease

9.1.2 Commercial General Liability
 $2,000,000.00 limit on a per occurrence basis
 $4,000,000.00 general aggregate limit

9.1.3 Commercial Automobile Liability
 $1,000,000.00 combined single limit including owned, non-owned and hired automobile coverage

9.2 All of CONTRACTOR’s policies shall contain an endorsement providing that written notice shall be given to CITY at least thirty (30) calendar days prior to termination, cancellation, or reduction of coverage in the policy.

9.3 Policies providing for bodily injury and property damage coverage shall contain the following:

A. An endorsement extending coverage to the City as an additional insured, as respects liability arising out of the performance of any work under the Contract. Such insurance shall be primary insurance, as respects the interest of the City, and any other 9-16Concord - Document ID: generated after first signature insurance maintained by the City shall be considered excess coverage and not contributing insurance with the insurance required hereunder. The certificates shall state: “The City of Palmdale, Successor Agency to the Community Redevelopment Agency of the City of Palmdale, Palmdale Civic Authority, Housing Authority, Industrial Development Authority, Airport Authority, their officers, agents, employees and volunteers are named as additional insured”.

B. “Severability of Interest” Clause.

9.4 Promptly upon execution of this Contract, and prior to commencement of any work, CONTRACTOR shall deliver to CITY certificates of insurance and endorsements to all required policies demonstrating that CONTRACTOR has the required coverage and showing the required named insured. Within five (5) days of written request from CITY, CONTRACTOR shall deliver to CITY full and complete copies of all insurance policies required by this Contract.

9.5 The requirements as to the types and limits of insurance to be maintained by CONTRACTOR are not intended to and shall not in any manner limit or qualify CONTRACTOR’s liabilities and obligations under this Contract.

9.6 Any policy or policies of insurance that CONTRACTOR elects to carry as insurance against loss or damage to its equipment and tools or other personal property used in the performance of this Contract shall include a provision waiving the insurer’s right of subrogation against CITY.

9.7 All insurance coverage must be maintained throughout the duration of this Contract.

9.8 Acceptable Proof of Insurance:

9.8.1 ACORD Certificate of Insurance listing all coverage, limits, deductibles and insured; and endorsements for all applicable coverage if agent has authority to issue it; or additional insured Form CG20100704 and CG20370704 or equivalent must be provided for general liability coverage. Additional insured form CA0001 must be provided for automobile liability coverage.

9.8.2 Binders of insurance for all coverage. Agents must confirm that policy endorsements have been ordered from the respective insurance companies. Upon issuance, policy endorsements and a corresponding Certificate of Insurance listing all insurers and coverage must be submitted to the City Attorney.

9.9 Notwithstanding any other provision of this Contract, CITY may immediately terminate this Contract if, at any time CONTRACTOR fails to maintain the required insurance for any period of time or fails to comply with any of the insurance requirements listed above.

9.10 Any and all subcontractors working on behalf of CONTRACTOR shall be subject to insurance requirements that are substantially similar to those required of CONTRACTOR under this Contract.

10 TERMINATION WITHOUT CAUSE
10-16Concord - Document ID: generated after first signature City reserves the right to terminate this Contract or any part thereof for its sole convenience with fifteen (15) days written notice. In the event of such termination, CONTRACTOR shall immediately stop all work hereunder, and shall immediately cause any of its suppliers and subcontractors to cease such work. CONTRACTOR shall also surrender to CITY all finished or unfinished documents, processes, programs and other supplies and materials, which shall be City’s property. As compensation in full for services performed to the date of such termination, the CONTRACTOR shall receive an amount equal to the value of the work completed as of the termination date in accordance with the fee schedule or as negotiated between the parties. In no event shall the amount payable upon termination exceed the total maximum compensation provided for in this Contract.
11 TERMINATION FOR CAUSE
If CITY determines that CONTRACTOR has failed to supply an adequate working force, or to provide services of proper quality, or has failed in any other respect to satisfactorily perform the services specified in this Contract, CITY shall give written notice to CONTRACTOR specifying all defaults to be remedied within thirty (30) days. Such notice shall set forth the basis for CITY’s dissatisfaction and suggest corrective measures. If, after thirty days, CONTRACTOR has failed to implement appropriate corrective measures, CITY may elect to terminate this Contract in whole or in part.

11.1 In the event CITY terminates this Contract, in whole or in part, for cause, CITY may procure, upon such terms and in such manner, as it may deem appropriate, services similar to those terminated.

11.2 CONTRACTOR shall provide all finished or unfinished documents, data, studies, software, drawings, programs, processes, maps, photographs, reports, etc., prepared by CONTRACTOR within fifteen (15) working days after notice of termination. Upon such termination, CONTRACTOR shall be paid an amount equal to the value of the services provided and work performed as of the date of termination, taking into consideration the costs associated with hiring another CONTRACTOR to complete the services. In ascertaining the value of the work performed up to the date of termination, consideration shall be given to both completed work and work in progress, to complete and incomplete documents when such are delivered to CITY, and to authorized reimbursement expenses. The above is in addition to any other remedies available by law or equity to CITY.

11.3 If, after notice of termination of the Contract under the provisions of this Section 11, it is determined, for any reason, that CONTRACTOR was not in default, or that the default was excusable, then the rights and obligations of the parties shall be the same as if the notice of termination had been issued pursuant to Section 10.
12 DISPUTE RESOLUTION
All claims, disputes, and other matters in question between CITY and CONTRACTOR arising out of or relating to this Contract or the breach thereof shall, to the extent reasonably feasible, be resolved through good faith negotiations between the parties. 13 OWNERSHIP OF PRODUCT
All product, data, documents, programs and software including, but not limited to, research, field notes, investigations, analysis, studies, processes, software, instructions for use and 11-16Concord - Document ID: generated after first signature other manuals, whether complete or incomplete, which are prepared or produced in the performance of this Contract are to be, and remain the property of CITY and shall be delivered to or left with CITY upon the completion or termination of this Agreement.

CONTRACTOR shall furnish CITY, upon its request, originals and reproducible and electronic copies of product, data reports, studies and of all other documents listed above.

Electronic copies shall be provided in an unprotected format which allows CITY to copy, reproduce and makes changes as CITY deems necessary.
14 DELEGATION AND ASSIGNMENT

14.1 CONTRACTOR shall not delegate or assign its duties or rights hereunder, either in whole or in part, without the prior written consent of CITY; provided, however, that claims for money due or to become due to CONTRACTOR from CITY under this Contract may be assigned to a bank, trust company or other financial institution without such approval.

14.2 Any assignment, delegation or subcontract shall be made in the name of CONTRACTOR and shall not bind or purport to bind CITY and shall not release CONTRACTOR from any obligations under this Contract including, but not limited to, the duty to properly supervise and coordinate the work of employees, assignees, delegates and subcontractors. No such assignment, delegation or subcontract shall result in any increase in the amount of total compensation payable to CONTRACTOR under this Contract. 15 NON-DISCRIMINATION AND EQUAL EMPLOYMENT OPPORTUNITY

15.1 In performance of this Contract, CONTRACTOR shall not discriminate against any employee, subcontractor, or applicant for employment because of sex, color, race, religion, ancestry, national origin, disability, medical condition, marital status, sexual orientation, or age. CONTRACTOR will take affirmative action to ensure that applicants are employed, and that employees are treated during employment, without regard to their sex, color, race, religion, ancestry, national origin, disability, medical condition, marital status, sexual orientation or age. Affirmative action relating to employment shall include, but not be limited to the following: employment, upgrading, demotion or transfer; recruitment; layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship.

15.2 The provisions of subsection 15.1 above shall be included in all solicitations or advertisements placed by or on behalf of CONTRACTOR for personnel to perform any services under this Contract. CITY shall have access to all documents, data and records of CONTRACTOR and its subcontractors for purposes of determining compliance with the equal employment opportunity and non-discrimination provisions of this Section, and all applicable provisions of Executive Order No. 11246 which is incorporated herein by this reference. A copy of Executive Order No. 11246 is available for inspection at, and on file with, the Palmdale City Clerk’s Office.
16 FINANCIAL INTEREST CERTIFICATION

16.1 CONTRACTOR warrants that no person has been employed or retained to solicit or secure this Contract upon an agreement or understanding for a commission, percentage, brokerage or contingent fee; and that no officer or employee of the CITY has any interest, financially or otherwise, in CONTRACTOR’s firm.
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16.2 For breach or violation of this warranty, CITY shall have the right to annul this Contract without liability or at its discretion to deduct from the Contract Price or consideration, the full amount of such commission, percentage, brokerage or contingent fee. 17 CONFLICT OF INTEREST

17.1 CONTRACTOR stipulates that its officers and employees do not now have a conflict of interest and it further agrees for itself, its officers and its employees that it will not contract for or accept employment for the performance of any work or services with any individual business, corporation or government unit that would create a conflict of interest in the performance of its obligations pursuant to this Contract or which would cause CONTRACTOR to be “financial interested” (as provided in California Government Code Section 1090 et seq. or 87100 et seq.) in any contract or decision made by CITY on any matter.

17.2 CONTRACTOR shall not employ any City official or employee to perform any work required pursuant to this Contract.

17.3 To the extent required by the City Manager or his designee, CONTRACTOR shall complete and file with the City Clerk a Form 700 Statement of Economic Interests disclosing any reportable property interests, income, gifts, investments, or business positions. 18 COMPLIANCE WITH LAW

18.1 CONTRACTOR shall comply with all state and federal laws, including but not limited to, the requirement to hire only those persons authorized by federal law to work in the United States. If CONTRACTOR uses any subcontractors to complete this Contract, this same requirement shall be included in all subcontracts and strictly enforced by CONTRACTOR.

18.2 The law of the state of California shall govern this Contract. The venue of any legal action, either formal or informal, shall be the County of Los Angeles. 19 NOTICES
Any notice required under this Contract shall be in writing, addressed to the appropriate party at its address on the signature page and given personally or by registered or certified mail postage prepaid, or by a commercial courier service. All notices shall be effective upon the date of receipt.
20 ENTIRE AGREEMENT AND AMENDMENTS

20.1 This Contract is the complete Agreement between the parties and supersedes all prior proposals, agreements, and understandings between the parties and may not be modified or terminated orally.

20.2 No attempted waiver of any of the provisions hereof, nor any modification in the nature, extent or duration of the work to be performed by CONTRACTOR hereunder, shall be binding unless in writing and signed by the party against whom the same is sought to be enforced.
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20.3 The failure of any party to enforce against another party any provision of this Contract shall not constitute a waiver of that party’s right to enforce such a provision at a later time, and shall not serve to vary the terms of this Contract.

21 ATTORNEY’S FEES

If any action at law or in equity is brought to enforce or interpret any provisions of this Contract, the prevailing party in such action shall be entitled to reasonable attorney’s fees, costs and necessary disbursements, in addition to such other relief as may be sought and awarded.

In Witness Whereof, the parties hereto have caused this Contract to be executed and attested by their respective officers thereunto duly authorized.

CITY OF PALMDALE: GREENE BACKFLOW:

Steven D. Hofbauer Date
Mayor

Candace Guzman Date
CFO/President

ADDRESS FOR NOTICE:

CITY OF PALMDALE
39110 3rd Street East, Suite C
Palmdale, CA 93550

ADDRESS FOR NOTICE:

GREENE BACKFLOW
28439 Rodgers Dr.

Santa Clarita, CA 91350
APPROVE AS TO FORM:

Scott E. Porter
Acting City Attorney

ATTEST:

Shanae S. Smith
City Clerk
ATTEST: If Corporation

Secretary

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APPENDIX A
CITY OF PALMDALE ENGINEERING DETAIL I-7
“Typical Backflow Preventer Inside Enclosure”
15-16Concord - Document ID: generated after first signature 16-16Concord - Document ID: generated after first signature City Council Staff Report
DATE: AUGUST 3, 2022
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: PUBLIC WORKS DEPARTMENT

MAINTENANCE DIVISION
DISTRICT: All
SUBJECT: AWARD IFB 22-004-3400 AS NEEDED PROFESSIONAL PAINTING

SERVICES AND APPROVE AGREEMENT WITH US NATIONAL

CORP DBA JIMENEZ PAINTING COMPANY IN AN AMOUNT NOT
TO EXCEED $400,000 OVER THE CONTRACT TERM.

ISSUE
Award IFB 22-004-3400 As Needed Professional Painting Services and approve agreement with US National Corp dba Jimenez Painting Company in an amount not to exceed $400,000 over the contract term.

RECOMMENDATION
Staff recommends that the City Council:

1. Award IFB 22-004-3400 As Needed Professional Painting Services to US National Corp dba Jimenez Painting Company;

2. Approve Agreement No. A -7972 with US National Corp dba Jimenez Painting Company for as needed professional painting services in an amount not to exceed $400,000 for a three (3) year contract term with two (2) one-year options to extend; and

3. Authorize the Interim City Manager or her designee to execute Agreement No. A - 7972 with US National Corp dba Jimenez Painting Company in the amount of $400,000, including making minimal and/or non-substantive changes.

BACKGROUND
The City administers service agreements with contractors that specialize in various professional disciplines to assist with department operations , such as painting services.

The professional painting contractor is utilized to perform specialized services on an as needed basis at various city locations for the Public Works Maintenance Division and the Public Art program. These as needed professional painting services include, but are not limited to, the painting and/or primer work on exterior and interior surfaces, wooden or metal doors, fascia, rafter tails, wrought iron fencing, City standard light poles, backflow Report to Mayor and City Council
Re: Award IFB 22-004-3400 and Approve Agreement No. A-7972 with US National Corp dba Jimenez Painting Company
August 3, 2022

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or irrigation controller enclosures, window casing and security screening, and public art pieces and surfaces.

The services provided by the painting contractor are used in conjunction with work performed by City staff to meet increasing service demands, address deferred maintenance, and further the efficiency of operations to maintain safe and attractive facilities, public spaces, and infrastructure for the community.

DISCUSSION
The City released Invitation for Bids No. 22-004-3400 for As Needed Professional Painting Services on April 26, 2022. Notification of the IFB release was sent electronically to 52 registered vendors in the City’s PlanetBids vendor database. The solicitation was posted on the City’s website and published in the Antelope Valley Press on April 26, 2022 and May 1, 2022.

Five (5) responses were received on May 26, 2022. Three staff evaluators determined that US National Corp dba Jimenez Painting Company (Pacoima, CA) was the best responsive proposal based on the following evaluation criteria:

Evaluation Criteria Maximum Points

1. Past Performance & Experience
The Contractor’s recent experience in conduction work for contracts of similar scope, complexity, and magnitude, particularly for government agencies. 35 2. Qualification & Ability
Qualification and ability of the bidding Contractor firm to provide the services as outlined in the scope of services and/or work.
35 3. Cost Proposal
The bid costs and rates. Payment of prevailing wage is required.

Mathematically calculated based on whether proposed costs are reasonable, competitive, and complete in relation to the IFB requirements. 30 Bid Proposal Total Points Available: 100
Prospective Bidders Past Performance
& Experience
Qualification &
Ability
Cost Proposal Total Points
US National Corp 35 35 30 100
Prime Painting 35 35 28 98
AJ Fistes 35 35 21 91
Omega Construction 35 35 18 88
MAC Painting 35 35 15 85
Report to Mayor and City Council
Re: Award IFB 22-004-3400 and Approve Agreement No. A-7972 with US National Corp dba Jimenez Painting Company
August 3, 2022

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Each of the prospective bidders were able to demonstrate that they met and/or exceeded the required qualifications and abilities to perform the requested services outlined in IFB 22-004-3400 for As Needed Professional Painting Services. However, it was determined that in addition to their excellent work performance and experience, US National Corp dba Jimenez Painting Company provided the lowest responsive pricing which served the best benefit to the City.

Staff recommends that the City Council award IFB 22-004-3400 As Needed Professional Painting Services and approve Agreement No. A-7972 with US National Corp dba Jimenez Painting Company.

FISCAL IMPACT
The total contract cost for as needed professional painting services is for an amount not to exceed $400,000.00. Sufficient funds are to be budgeted across Contract Services line items for the following accounts over the contract term: Facility Maintenance (10133005); Landscape Assessment Districts (25133003); General Benefit Landscape Areas (10133003); Park Maintenance (10133002); Palmdale Transportation Center and Park- N-Rides (20333005); and Public Art (15642001).

STRATEGIC PLAN
Goal II: Ensure long-term fiscal health of the City and maintain funding for services.

A. Manage resources, costs, and liabilities to ensure the City’s long-term fiscal health.

Goal III: Invest in infrastructure to improve community livability.

B. Seek cost effective, customer focused methods of service delivery.

C. Plan and maintain safe and attractive neighborhoods, streets, facilities, and public spaces with exciting programming that promotes active fun for everyone.

ATTACHMENTS

1. Agreement No. A-7972 US National Corp
AGREEMENT NO. A-7972

CONTRACT FOR SERVICES
BETWEEN THE CITY OF PALMDALE AND US NATIONAL CORP dba JIMENEZ

PAINTING COMPANY

This CONTRACT for services (“Contract” herein) is made and entered into this 3rd day of August, 2022, by and between the City of Palmdale, a public body corporate and politic, (hereinafter called “CITY”), and US NATIONAL CORP dba JIMENEZ PAINTING COMPANY, a California Corporation, (hereinafter called “CONTRACTOR”). The term of this Contract is Three (3) Years, commencing on August 3, 2022, with CITY reserving the option to extend the agreement for 2 additional terms of one year each.

RECITALS
WHEREAS, CONTRACTOR represents that CONTRACTOR has the expertise and is qualified to perform the services described in this Contract.

2.1 CONTRACTOR shall provide the following services in a manner satisfactory to CITY:

WORK TASKS
CONTRACTOR shall be contacted for professional painting projects on an as needed basis.

A) Contractor shall respond within (1) business day to emails or phone calls from corresponding section Superintendent or appointed designee.

B) Scheduling of jobs shall occur within (2) business days after initial contact by the corresponding section Superintendent or appointed designee.

C) Work shall begin within (14) business days after scheduling has been approved by the corresponding section Superintendent or appointed designee.

No subcontracting is allowed. CONTRACTOR may not assign, sell, or subcontract its obligations under the contract to any third party without prior approval in writing by the CITY.

CONTRACTOR shall provide all preparation and masking materials, labor, tools, equipment, supervision, utilities, insurance, and consumables (excluding paint and primer) for interior painting, exterior painting and wrought iron fence painting as requested. All materials, 1-13Concord - Document ID: generated after first signature preparation and workmanship shall conform to the requirements of the latest edition of the Architectural Painting Specification Manual by the Master Painters Institute (MPI) as issued by the local MPI Accredited Quality Assurance Association having jurisdiction.

The CITY will purchase all primer and paint. CONTRACTOR shall receive City provided primer and paint as directed by the corresponding section Superintendent or appointed designee.

PAINTING BEST MANAGEMENT PRACTICES TO BE OBSERVED INCLUDE BUT NOT LIMITED TO:
Prepare surfaces to be re-painted by sanding, scraping, wire brushing, pressure washing in accordance with MPI approved preparations methods. Prepare bare metal surfaces to be painted by chemical etching in accordance with MPI approved preparation methods.
Apply sealing primer according to the manufacturer’s recommendation. Upon completion of applying the sealing primer coat an inspection must be coordinated with the corresponding section Superintendent or appointed designee. Once the sealing primer coat has been accepted by the corresponding section Superintendent or appointed designee the finish coat may be applied. Apply finish paint according to the manufacturer’s recommendation. Protect surrounding areas and surfaces not intended to be coated from damage during preparation and application of coatings.
Remove all spilled, splashed or over sprayed paint as work progresses, remove waste materials, and keep area free from unnecessary accumulation of tools, equipment, surplus materials and debris on a daily basis. Protect all newly coated surfaces from vandalism, elements, condensation, and contamination until coatings are completely dry and accepted by the corresponding section Superintendent or appointed designee. Upon project completion, coordinate final inspection with the corresponding section Superintendent or appointed designee.

Payment Bonds
Unless otherwise expressly provided in the bid documents, if any individual project performed under the Contract exceeds $25,000, Contractor shall provide a payment bond in the full amount of the project. Such bond is requested by the CITY before work is to be performed on the specified project.

Licenses
At all times during the term of this Contract, Contractor shall possess a valid and current Specialty Contractor License consisting of Class C-33 Painting and Decorating license(s) to perform the required work. Contractor's CSLB license number is 813354. Contractor’s.

Contractor’s DIR registration number is 1000001988. Contractor hereby certifies that it holds the required license(s).

Prevailing Wage
This Contract calls for work to be performed constituting public works. All labor is to be paid at prevailing wage rates. CONTRACTOR and all subcontractors must be registered with the State of CA Department of Industrial Relations (DIR) as a public works contractor for the 2-13Concord - Document ID: generated after first signature duration of the agreement and is responsible for any and all registration and/or renewal fees.

CITY may request certified payroll records for any work performed under the term of the agreement.

2.2 CONTRACTOR shall have no claim for compensation for any services or work, which has not been authorized by CITY’s Authorization to Proceed.

3.1 Key Staff. CITY reserves the right to review and approve CONTRACTOR’S staff including all subcontractors to be assigned to any project by CONTRACTOR during the term of this Contract.

CONTRACTOR’s Team and Key Personnel are as follows:

Fred Jimenez: Owner/Project Manager/Contractor
Mary Martinez: Operations Manager
Painting Staff: 12 Full Time Painters
This Services Contract has been awarded to CONTRACTOR based on its representation that those personnel and subcontractors submitted as part of its bid and listed above will perform the portions of the work listed above.

CONTRACTOR shall not deviate nor substitute any of these team members without prior written approval by CITY.
3-13Concord - Document ID: generated after first signature

3.3.3 CONTRACTOR shall indemnify and hold harmless CITY, and its respective officers, agents and employees from and against all claims, demands, damages or costs arising from CONTRACTOR’s acts or omissions with respect to any liability, damages, claims, costs and expenses of any nature arising from alleged violations of personnel practices. 4 ACCEPTANCE AND DOCUMENTATION
Each task shall be reviewed and approved by the Contract Project Manager to determine acceptable completion.

4.2 Property of CITY. All materials, including reports, computer programs and other deliverables, supplied or created under this Contract are the sole property of CITY.

4.3 Products. All equipment, materials, parts, and other components incorporated in the work or services performed pursuant to this Contract shall be new, or the latest model and of the most suitable grade for the purpose intended. All work shall be performed in a skilled and workmanlike manner.
5 PRICE
4-13Concord - Document ID: generated after first signature CITY shall pay to CONTRACTOR an amount not to exceed Four Hundred Thousand dollars ($400000.00) for the completion of all the work and services described in Section 2, which sum shall include all costs or expenses incurred by CONTRACTOR, payable as follows:

ITEM U/M YEAR 1
(FY 22-23)
YEAR 2
(FY 23-24)
YEAR 3
(FY 24-25)
YEAR 4*
(FY 25-26)
YEAR 5*
(FY 26-27)
Services
1 EXTERIOR PAINTING UP TO 6’
to include surface prep, primer coat
and 2 finish coats
per sq.
ft. $3.10 $3.41 $3.75 $4.13 $4.54
2 EXTERIOR PAINTING ABOVE 6’
to include surface prep, primer coat
and 2 finish coats
per sq.
ft. $3.45 $3.80 $4.17 $4.59 $5.05
3 INTERIOR PAINTING UP TO 6’
to include surface prep, primer coat
and 2 finish coats
per sq.
ft. $3.10 $3.41 $3.75 $4.13 $4.54
4 INTERIOR PAINTING ABOVE 6’
(walls and ceilings)
to include surface prep, primer coat
and 2 finish coats
per sq.
ft. $3.45 $3.80 $4.17 $4.59 $5.05
5 WOODEN DOOR (both sides
including the casing)
to include surface prep, primer coat
and 2 finish coats
per door $100.00 $110.00 $121.00 $133.10 $146.41
6 METAL DOOR (both sides
including the casing)
to include surface prep, primer coat
and 2 finish coats
per door $100.00 $110.00 $121.00 $133.10 $146.41
7 FASCIA less than 6” wide
to include surface prep, primer coat
and 2 finish coats
per
linear ft. $12.00 $13.20 $14.52 $15.97 $17.57
8 FASCIA greater than 6” wide
to include surface prep, primer coat
and 2 finish coats
per
linear ft. $16.00 $17.60 $19.36 $21.30 $23.43
9 EXPOSED WOOD RAFTER TAILS
to include surface prep, primer coat
and 2 finish coats
per
linear ft. $50.00 $55.00 $60.50 $66.55 $73.21
10 WINDOW CASING, SECURITY
BAR
to include surface prep, primer coat
and 2 finish coats
per
linear ft. $1.00 $1.10 $1.21 $1.33 $1.46
11 WINDOW SECURITY

SCREENING
to include surface prep, primer coat
and 2 finish coats
per sq.
ft. $1.00 $1.10 $1.21 $1.33 $1.46
12 WROUGHT IRON FENCE RE-
PAINTING 3’ TALL
to include surface prep, primer coat
and finish coat
per
linear ft. $15.95 $17.55 $19.30 $21.23 $23.35
13 WROUGHT IRON FENCE RE-
PAINTING 6’ TALL
to include surface prep, primer coat
and finish coat
per
linear ft. $21.30 $23.43 $25.77 $28.35 $31.19
14 WROUGHT IRON FENCE
PAINTING 3’ TALL (bare metal)
to include surface prep, primer coat
per
linear ft. $10.65 $11.72 $12.89 $14.18 $15.59
5-13Concord - Document ID: generated after first signature * Option to Extend (Years 4 and 5)
All labor shall be paid at prevailing wage rates. CONTRACTOR shall determine proper wage classification. CITY may request certified payroll records for any work performed under the terms of this Agreement.

CITY will not allow, nor pay, any additional costs or surcharges on CONTRACTOR invoices not already noted on the Fee Schedule.

CONTRACTOR will provide a "not to exceed" quote for each project to be reviewed and approved by section Superintendent or appointed designee before work begins.

CITY reserves the right to review any invoice of the CONTRACTOR. - Billing shall occur in a timely manner
- Separate invoices shall be submitted for each site per event CITY reserves the right to withhold payment until the section Superintendent or appointed designee deems work has been completed to an acceptable standard.

and finish coat
15 WROUGHT IRON FENCE
PAINTING 6’ TALL (bare metal)
to include surface prep, primer coat
and finish coat
per
linear ft. $11.98 $13.18 $14.50 $15.95 $17.54
16 4”x4”X15’ LIGHT POLE (with shoe
box fixture)
to include surface prep, primer coat
and finish coat
per pole $55.00 $60.50 $66.55 $73.21 $80.53
17 BACK FLOW / IRRIGATION

CONTROLLER ENCLOSURE
to include surface prep, primer coat
and finish coat
per sq.
ft. $25.00 $27.50 $30.25 $33.28 $36.60
18 STUCCO SEAL
to include 2 coats
per sq.
ft. $7.00 $7.70 $8.47 $9.32 $10.25
19 METAL ROOF REPAINTING
to include surface prep, primer coat
and 2 finish coats
per sq.
ft. $25.00 $27.50 $30.25 $33.28 $36.60
Labor Rates
20 PAINTER - Straight
Time per hour $95.00 $104.50 $114.95 $126.45 $139.09 21 APPRENTICE PAINTER - Straight
Time per hour $21.00 $23.10 $25.40 $27.95 $30.75 22 PAINTER - Overtime per hour $105.00 $115.50 $127.05 $139.76 $153.73 23 APPRENTICE PAINTER -
Overtime per hour $27.00 $29.70 $32.67 $35.94 $39.53 6-13Concord - Document ID: generated after first signature

6.1 CONTRACTOR shall pay all sales, consumer, use, and other similar taxes required to be paid by CONTRACTOR in accordance with state and local laws.

6.3 CONTRACTOR shall be required to obtain a current City of Palmdale business license, as required by the Palmdale Municipal Code, before an Authorization to Proceed is issued.

6.4 When equipment, materials or supplies generally taxable to CONTRACTOR are eligible for a tax exemption due to the nature of the work, CONTRACTOR shall assist the City in applying for and obtaining such tax credits and exemptions, which shall be paid or credited to the City.
7 PATENT FEES AND ROYALTIES
CONTRACTOR shall pay all license fees and royalties and assume all costs incident to the use, in the performance of the work or the incorporation in the work of any invention, design, process, program, product or device which is the subject of patent rights or copyrights held by others. If a particular invention, design, process, program, product or device is specified in the contract documents for use in the performance of the work and if, to the actual knowledge of CITY, its use is subject to patent rights or copyrights calling for the payment of any license fee or royalty to others, the existence of such rights shall be disclosed by CITY in the contract documents. CONTRACTOR shall indemnify and hold harmless CITY and anyone directly or indirectly employed by CITY from and against all claims, damages, losses and expenses (including attorneys' fees) arising out of any infringement of patent rights or copyrights 7-13Concord - Document ID: generated after first signature incident to the use in the performance of the work, or resulting from the incorporation in the work of any invention, design, process, program, product or device not specified in the contract documents, and shall defend all such claims in connection with any alleged infringement of such rights.
8 INDEMNIFICATION
To the fullest extent permitted by law, CONTRACTOR and any subcontractors working on its behalf agree to indemnify CITY, its officers, employees, agents and elected and appointed boards (hereinafter “Indemnified Parties”) for any loss, claim, demand, cause of action, cost, expense, damage, obligation or liability which arises out of or is in any way connected with the performance of any work under this agreement, including any acts or omissions, willful misconduct or negligent conduct, whether active or passive, on the part of CONTRACTOR, or its subcontractors, and regardless of any acts, omissions or negligence (whether active or passive) of any person or entity indemnified hereunder. At their own expense, CONTRACTOR and, as applicable, any subcontractors working on its behalf, shall defend any suit, claim or action against the Indemnified Parties founded upon such loss, claim, demand, cause of action, cost, expense, damage, obligation or liability. CONTRACTOR shall ensure that the contract of any subcontractor working under this agreement contain an indemnity agreement, requiring the subcontractor to indemnify and defend the Indemnified Parties pursuant the terms set forth above. CONTRACTOR shall indemnify the Indemnified Parties, and save it harmless from any and all loss, damage, costs, expenses and attorney's fees suffered or incurred on account of any breach of the aforesaid obligations and covenants, and any other provision or covenant of this agreement. 9 INSURANCE

9.1.2 Commercial General Liability
 $1,000,000.00 limit on a per occurrence basis
 $2,000,000.00 general aggregate limit

9.1.3 Commercial Automobile Liability
 $1,000,000.00 combined single limit including owned, non-owned and hired automobile coverage

9.3 Policies providing for bodily injury and property damage coverage shall contain the following:

A. An endorsement extending coverage to the City as an additional insured, as respects liability arising out of the performance of any work under the Contract. Such insurance shall be primary insurance, as respects the interest of the City, and any other insurance maintained by the City shall be considered excess coverage and not contributing insurance with the insurance required hereunder. The certificates shall state: “The City of Palmdale, Successor Agency to the Community Redevelopment Agency of the City of Palmdale, Palmdale Civic Authority, Housing Authority, Industrial Development Authority, Airport Authority, their officers, agents, employees and volunteers are named as additional insured”.

B. “Severability of Interest” Clause.

9.7 All insurance coverage must be maintained throughout the duration of this Contract.

9.8 Acceptable Proof of Insurance:

9.10 Any and all subcontractors working on behalf of CONTRACTOR shall be subject to insurance requirements that are substantially similar to those required of CONTRACTOR under this Contract.

10 TERMINATION WITHOUT CAUSE
City reserves the right to terminate this Contract or any part thereof for its sole convenience with fifteen (15) days written notice. In the event of such termination, CONTRACTOR shall immediately stop all work hereunder, and shall immediately cause any of its suppliers and subcontractors to cease such work. CONTRACTOR shall also surrender to CITY all finished or unfinished documents, processes, programs and other supplies and materials, which shall be City’s property. As compensation in full for services performed to the date of such termination, the CONTRACTOR shall receive an amount equal to the value of the work completed as of the termination date in accordance with the fee schedule or as negotiated between the parties. In no event shall the amount payable upon termination exceed the total maximum compensation provided for in this Contract.
11 TERMINATION FOR CAUSE
If CITY determines that CONTRACTOR has failed to supply an adequate working force, or to provide services of proper quality, or has failed in any other respect to satisfactorily perform the services specified in this Contract, CITY shall give written notice to CONTRACTOR specifying all defaults to be remedied within thirty (30) days. Such notice shall set forth the basis for CITY’s dissatisfaction and suggest corrective measures. If, after thirty days, CONTRACTOR has failed to implement appropriate corrective measures, CITY may elect to terminate this Contract in whole or in part.

11.3 If, after notice of termination of the Contract under the provisions of this Section 11, it is determined, for any reason, that CONTRACTOR was not in default, or that the default was excusable, then the rights and obligations of the parties shall be the same as if the notice of termination had been issued pursuant to Section 10.
12 DISPUTE RESOLUTION
10-13Concord - Document ID: generated after first signature All claims, disputes, and other matters in question between CITY and CONTRACTOR arising out of or relating to this Contract or the breach thereof shall, to the extent reasonably feasible, be resolved through good faith negotiations between the parties. 13 OWNERSHIP OF PRODUCT
All product, data, documents, programs and software including, but not limited to, research, field notes, investigations, analysis, studies, processes, software, instructions for use and other manuals, whether complete or incomplete, which are prepared or produced in the performance of this Contract are to be, and remain the property of CITY and shall be delivered to or left with CITY upon the completion or termination of this Agreement.

CONTRACTOR shall furnish CITY, upon its request, originals and reproducible and electronic copies of product, data reports, studies and of all other documents listed above.

Electronic copies shall be provided in an unprotected format which allows CITY to copy, reproduce and makes changes as CITY deems necessary.
14 DELEGATION AND ASSIGNMENT

15.2 The provisions of subsection 15.1 above shall be included in all solicitations or advertisements placed by or on behalf of CONTRACTOR for personnel to perform any services under this Contract. CITY shall have access to all documents, data and records of CONTRACTOR and its subcontractors for purposes of determining compliance with the equal employment opportunity and non-discrimination provisions of this Section, and all applicable provisions of Executive Order No. 11246 which is incorporated herein by this reference. A 11-13Concord - Document ID: generated after first signature copy of Executive Order No. 11246 is available for inspection at, and on file with, the Palmdale City Clerk’s Office.
16 FINANCIAL INTEREST CERTIFICATION

17.2 CONTRACTOR shall not employ any City official or employee to perform any work required pursuant to this Contract.

20.1 This Contract is the complete Agreement between the parties and supersedes all prior proposals, agreements, and understandings between the parties and may not be modified or terminated orally.

21 ATTORNEY’S FEES

In Witness Whereof, the parties hereto have caused this Contract to be executed and attested by their respective officers thereunto duly authorized.

CITY OF PALMDALE: US NATIONAL CORP dba JIMENEZ
PAINTING COMPANY:

Steven D. Hofbauer Date
Mayor

Fred Jimenez Date
President

ADDRESS FOR NOTICE:

CITY OF PALMDALE
39110 3rd Street East, Suite C
Palmdale, CA 93550

ADDRESS FOR NOTICE:

US NATIONAL CORP dba JIMENEZ

PAINTING COMPANY
10205 San Fernando Road
Pacoima, CA 91331
APPROVE AS TO FORM:

Scott E. Porter
Acting City Attorney

ATTEST:

Shanae S. Smith
City Clerk
ATTEST: If Corporation

Secretary

13-13Concord - Document ID: generated after first signature City Council Staff Report
DATE: AUGUST 3, 2022
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: PUBLIC WORKS DEPARTMENT

CAPITAL IMPROVEMENT PROGRAM DIVISION
DISTRICT: 1, 2, & 3
SUBJECT: NOTICE OF COMPLETION – ACCEPT COMPLETED PROJECT WITH NU LINE TECHNOLOGIES, LLC ., FOR PN 751-B, SANITARY SEWER

PIPELINE TRENCHLESS REHABILITATION PROJECT, AT VARIOUS
LOCATIONS THROUGHOUT THE CITY.

ISSUE
Notice of Completion - Accept completed project with Nu Line Technologies, LLC., for PN 751 -B, Sanitary Sewer Pipeline Trenchless Rehabilitation Project, at various locations throughout the City.

RECOMMENDATION
Staff recommends that the City Council:

1. Accept completed project with Nu Line Technologies, LLC., for PN 751-B, Sanitary Sewer Pipeline Trenchless Rehabilitation Project, at various locations throughout the City, and

2. Authorize the Interim City Manager or her designee to execute and file a Notice of Completion.

BACKGROUND
Project No. 751-B, Sanitary Sewer Pipeline Trenches Rehabilitation Project, carried out the trenchless rehabilitation of sixteen (16) pipeline sections of various lengths within the City’s existing sewer system using cured -in-place pipe (CIPP and UV -CIPP) trenchless methods only. Work was also include d traffic control, traffic control plan development, and material certification submittals. All work was performed within the existing right of way.

DISCUSSION
All construction work for this project has been completed. To release funds being held as retention (five percent of each progress payment), it is necessary for the City Council to accept the project and for a Notice of Completion to be filed.

Report to Mayor and City Council
Re: Notice of Completion: Sanitary Sewer Pipeline Trenchless Rehabilitation Project August 3, 2022

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Palmdale City CouncilAugust 3, 2022

Palmdale City Council
August 3, 2022