1. CALL MEETING TO ORDER
*Note: All City Council memberships are reflected in their City Council titles.
2. ROLL CALL
MAYOR BETTENCOURT, MAYOR PRO TEM ALARC
Ó
N, COUNCILMEMBERS
BISHOP, LOA, OHLSEN
COMMISSIONERS FRAGA-SAENZ, BETTS
3. PLEDGE OF ALLEGIANCE AND MOMENT OF SILENCE
4. PRESENTATION
4.1 Presentation by Mayor and Council of Certificates of Recognition to the Palmdale High School Solar Car Challenge team.
5. PUBLIC COMMENT RULES:
“(California Government Code Section 54954.3).
(a) Every agenda for regular meetings shall provide an opportunity for members of the public to directly address the legislative body on any item of interest to the public, before or during the legislative body’s consideration of the item, that is within the subject matter jurisdiction of the legislative body, provided that no action shall be taken on any item not appearing on the agenda unless the action is otherwise authorized by subdivision (b) of
CITY COUNCIL MEETING
SUCCESSOR AGENCY
HOUSING AUTHORITY
CITY COUNCIL CHAMBERS
38300 SIERRA HIGHWAY
SUITE B
PALMDALE, CA 93550
WEDNESDAY, AUGUST
2, 2023
5:00 PM
www.cityofpalmdale.org
WELCOME
City Council
Wednesday, August
2, 2023
Section 54954.2 [section omitted].
(b) (1) The legislative body of a local agency may adopt reasonable regulations to ensure that the intent of the subdivision (a) is carried out, including, but not limited to, regulations limiting the total amount of time allocated for public testimony on particular issues and for each individual speaker.
(2) Notwithstanding paragraph (1), when the legislative body of a local agency limits time for public comment, the legislative body of a local agency shall provide at least twice the allotted time to a member of the public who utilizes a translator to ensure that non- English speakers receive the same opportunity to directly address the legislative body of a local agency.”
In furtherance of Section 54954.3 of the Brown Act, the public is allotted to speak a total of three (3) minutes on the entirety of the Consent Calendar and Closed Session, with two (2) minutes on the New Business item, and, if desired, an additional two (2) minutes on items not on the agenda that are within the subject matter jurisdiction of the City Council. As specified in the Brown Act, a speaker utilizing a translator will receive twice the amount of time specified.
6. PUBLIC COMMENTS:
CONSENT CALENDAR AND CLOSED SESSION:
Now is the time for public
participation on items listed on the Consent Calendar and Closed Session. Each speaker is allotted three (3) minutes total on the entirety of the above sections.
7. 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.
7.1 Receive and file the monthly and quarterly investment activity reports for June 2023.
1. Staff_Report_-_Investment_Report_JUNE_2023.docx
June 2023 COP & SA_Investment and Quarterly
Reports.pdf
7.2 Approve First Amendment for Agreement with Taft Electric Company to increase contract price $180,000 for an amount not to exceed $270,000 for a term through June 2025.
SR_Approve__A-7526_Taft_Electric_First_Amendment.docx
Taft Electric Company (A-7526) Amendment 1_CAO SIGNED.pdf
City Council
Wednesday, August
2, 2023
8. NEW BUSINESS
8.1 Presentation on Public Safety.
PUBLIC COMMENTS: Now is the time for public participation on this item.
Each speaker is allotted two (2) minutes.
9. NON-AGENDA PUBLIC COMMENTS
:
Now is the time for public participation on
items not listed on the agenda. Each speaker is allotted two (2) minutes total on items not listed on the agenda.
10. INFORMATIONAL REPORT FROM MAYOR AND / OR COUNCILMEMBERS ON
THEIR VARIOUS COMMITTEE MEMBERSHIPS AND MEETINGS ATTENDED AT
PUBLIC EXPENSE
10.1 Council Reports on Committee Memberships and Meetings Attended at Public Expense.
Bettencourt Informational Report July 2023.docx
Bishop Informational Report July 2023.pdf
LOA Informational Report July 2023.docx
Ohlsen_Informational_Report_July_2023.docx
11. CITY COUNCIL ANNOUNCEMENTS AND REQUESTS
12. CITY MANAGER’S REPORT
13. PRESENTATION BY CITY ATTORNEY
13.1 CONFERENCE WITH REAL PROPERTY NEGOTIATORS
Property Address: Vacant Land located along 3rd Street East near Avenue P-12 (APN 3006-006-036)
Negotiators for the City: Sophia Reyes, Director Neighborhood Services and Heather Nichols, Senior Housing Coordinator
Negotiator for Property Owner: Leo Hayashi Trust and Hirokazu Konishi Under Negotiation: Price and terms of payment
13.2 CONFERENCE WITH LEGAL COUNSEL - ANTICIPATED LITIGATION Initiation of litigation pursuant to paragraph (4) of subdivision (d) of Section 54956.9: 1 case
13.3 CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION Land Developers & Associates Corporation v. Successor Agency to the Community Redevelopment Agency of the City of Palmdale, et al.
City Council
Wednesday, August
2, 2023
Los Angeles County Superior Court
Case No. 22AVCV01093
The closed session is being held pursuant to the authority of California Government Code Section 54956.9(d)(1).
13.4 CONFERENCE WITH REAL PROPERTY NEGOTIATORS
Property Address: Vacant land VIC of Vineyard Lane and Elizabeth Lake Road (APN 3206-007-001; 3206-006-028; 3205-002-051; 3206-007-059; 3205-002- 053; 3206-005-008)
City Negotiator: Luis Garibay, Director of Economic & Community Development Negotiating parties: RDR Development Holdings LLC
Under negotiation: Price and terms
13.5 CONFERENCE WITH REAL PROPERTY NEGOTIATORS
Property Address: Vacant land VIC of Avenue O-8 and 10th St. West (APN 3005- 038-076)
City Negotiator: Luis Garibay, Director of Economic & Community Development Negotiating parties: Green Valley Corporation
Under negotiation: Price and terms
13.6 PUBLIC EMPLOYMENT
Title: City Attorney
14. ANNOUNCEMENT BY CITY ATTORNEY
15. ADJOURN
meeting to August 16, 2023 at 5:00 p.m. in the City Hall Council Chamber located at 38300 Sierra Highway, Suite B, Palmdale, California.
Americans with Disabilities Act (ADA) Accommodations
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.
City Council
Wednesday, August
2, 2023
City Council Staff Report
DATE: AUGUST 2, 2023
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: CITY MANAGER’S OFFICE – FINANCE DIVISION
DISTRICT: ALL
SUBJECT: RECEIVE AND FILE THE MONTHLY AND QUARTELY INVESTMENT ACTIVITY REPORTS FOR JUNE 2023
ISSUE
Receive and file the monthly and quarterly investment activity reports for June 2023.
RECOMMENDATION
Staff recommends that the City Council receive and file the monthly and quarterly investment activity reports for City of Palmdale and Successor Agency for June 2023.
BACKGROUND
Pursuant to Section 16 of the City of Palmdale and Successor Agency Investment Policy, the City Treasurer shall prepare and present monthly and quarterly reports on investments to the City Manager/Executive Director and the City Council/Directors. The reports shall detail the type of investment, name of the issuer, purchase date, date of maturity, amount of deposit, and rate of interest. This information shall be provided for all City and Successor Agency pooled investments, as well as for Certificates of Participation, Revenue Bonds, Tax Allocation Bonds, Assessment Districts and Community Facilities District accounts which are managed by outside Fiscal Agents.
The monthly reports provide a synopsis of the investment activity for the City of Palmdale and Successor Agency. The reports provide information on assets, allocations, average maturities, yields, and book valuations.
The interest rates presented are the mo st 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 Journal, Bloomberg Financial Markets, Capital Market Finances, or other reliable source of market prices.
Report to Mayor and City Council
Re: Monthly and Quarterly Reports on Investments
August 2, 2023
DISCUSSION
Compliance with Investment Policy
For June, the invested portfolio amount for the City of Palmdale totaled $325,705,581, an increase of $20,294,233 from the previous month, and an increase of $54,790,463 in comparison to last year. The monthly increase is the result of a combination of new investment purchase, interest gains, and LAIF deposits.
The par value of Successor Agency’s portfolio as of June was $14,587,215. The balance increased by $4,390,218 from last month due to a combination of cash deposit received from LA County property taxes and earned interest.
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.
The total LAIF balance for the City of Palmdale at the end of June is $150,390,432, an increase of $25,000,000 compared to the prior month, due to a deposit made by the City’s general bank to LAIF.
Successor Agency LAIF balance at the end of June was $12,988,812. An increase of $8,500,000 due to a transfer from Successor Agency cash account to the LAIF account.
CAMP’s balance for City of Palmdale at the end of June was $259,310 compared to May balance of $258,197. The slight increase is due to interest earned during the month.
Report to Mayor and City Council
Re: Monthly and Quarterly Reports on Investments
August 2, 2023
The interest rates presented are the most current rates available as of the date of this report. As of June 30, 2023, the interest rates for LAIF and CAMP investments were at
3.167 percent and 5.24 percent, respectively. By comparison, the LAIF and CAMP interest rates at the end of May were at 2.993 percent and 5.16 percent. Both rates have slightly increased within this month. This time last year, LAIF and CAMP rates were at
0.861 percent and 1.14, respectively.
The chart above shows both the Local Agency Investment Fund and California Asset Management Program’s average monthly yields beginning September 2022 through June 2023.
We anticipate that rates will remain fairly consistent, increasing only in small percentages in the upcoming months, considering the history in the past year and the current state of economy. CAMP shows better performance than LAIF in interest rates.
The difference between the performance of the two funds is partly due to the varying pool characteristics. CAMP’s portfolio composition is much more subject to market volatility, resulting in performance variation.
Diversity
The Finance Division aims to diversify the investment portfolios to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions.
City of Palmdale and Successor Agency’s investment portfolios remain strongly diversified. The monthly and quarterly reports include all investments held by both entities and current book values as of June 30, 2023.
1.51%
1.77%
2.01%
2.17% 2.43%
2.62% 2.83% 2.87% 2.99% 3.17%
2.61% 3.14% 3.90% 4.30% 4.53%
4.73% 4.80% 4.97% 5.16% 5.24%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
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 Reports on Investments
August 2, 2023
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 in the City of Palmdale and Successor Agency’s books as of June 30, 2023.
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, Senior Financial Analyst
Certified as to availability of Funds: Janelle Samson, Director of Finance Approved by: Ronda Perez, City Manager
Approved as to form: William P. Curley, III, Interim City Attorney
ATTACHMENTS
1. Monthly Reports on City of Palmdale Investments
2. Quarterly Reports on City of Palmdale Investments
3. Monthly Report on Successor Agency Investments
4. Quarterly Reports on Successor Agency Investments
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
JUNE 30, 2023
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 4,938,670.00 03-19-21 12-31-25 CITY 9128285T3 U.S. Treasury Note UBS 2.63 3,000,000.00 3,260,634.36 2,961,090.00 05-11-21 02-28-26 CITY 9128286F2 U.S. Treasury Note UBS 0.66 3,000,000.00 3,261,331.50 2,945,970.00 05-11-21 12-31-24 CITY 9128283P3 U.S. Treasury NoteUBS 0.40 3,000,000.00 3,200,040.56 2,946,930.00 06-04-21 12-31-23 CITY 912828V23 U.S. Treasury NoteUBS 0.20 4,000,000.00 4,210,026.50 3,959,360.00 07-12-21 12-31-23 CITY 9128285U0 U.S. Treasury NoteUBS 2.63 5,000,000.00 5,289,959.94 4,977,950.00 07-12-21 12-31-25 CITY 9128285T3 U.S. Treasury Note 2.63 5,000,000.00 5,451,958.35 4,935,150.00 07-12-21 12-31-23 CITY 912828V23 U.S. Treasury Note1/3/2023 2.25 5,000,000.00## 5,244,161.50 4,949,200.00 12-17-21 12-15-23 CITY 91282CBA8 U.S. Treasury NoteUBS 0.56 10,000,000.00 9,913,130.25 9,602,000.00 12-17-21 12-15-24 CITY 91282CDN8 U.S. Treasury Note (UBS)UBS 0.85 10,000,000.00 10,045,505.25 9,531,600.00 12-22-21 12-15-23 CITY 91282CBA8 U.S. Treasury Note 0.56 5,000,000.00 4,957,270.88 4,801,000.00 12-22-21 12-15-24 CITY 91282CDN8 U.S. Treasury NoteUBS 0.88 5,000,000.00 5,018,208.38 4,765,800.00 12-20-21 12-15-24 CITY 91282CDN8 U.S. Treasury Note (Stifel) 1.00 5,000,000.00 5,017,187.50 4,765,820.00 03-08-23 03-31-26 CITY 9128286L9 U.S. Treasury Note (UBS)UBS 2.25 3,200,000.00 3,029,330.80 3,029,330.80 TOTAL U.S. TREASURY SECURITIES 71,200,000.00$ 72,950,395.77$ 69,109,870.80$
GOVERNMENT AGENCY PAPER
06-10-20 06-16-25 CITY 3133ELK37 Federal Farm Credit 0.78 5,000,000.00 5,000,000.00 4,672,635.10 08-07-20 05-06-24 CITY 3133EL2X1 Federal Farm Credit 0.42 2,000,000.00 2,000,000.00 1,905,188.04 08-27-20 11-27-24 CITY 3134GWNG7 Freddie Mac Domestic 0.50 2,000,000.00 2,000,000.00 1,885,345.78 04-01-21 04-01-25 CITY 3133EMUP5 Fed Farm Credit 0.71 5,000,000.00 5,000,000.00 4,682,977.35 05-11-21 09-04-25 CITY 3133EJYM5 FFCB Bond UBS 0.59 1,000,000.00 1,103,275.25 999,450.00 05-11-21 09-04-25 CITY 3133EJYM5 FFCB Bond 0.57 0.57 2,000,000.00 2,208,460.00 1,998,900.00 06-04-21 11-07-25 CITY 3135G06G3 Fannie Mae UBS 0.55 3,000,000.00 2,993,675.25 2,757,300.00 06-04-21 08-01-24 CITY 3130AMHH8 FHLB NOTE 0.41 4,000,000.00 4,000,000.00 3,809,357.72 06-07-21 06-07-24 CITY 3130AMQR6 FHLB NOTE 0.35 3,000,000.00 3,000,000.00 2,864,376.87 06-30-21 12-30-25 CITY 3130AMRQ7 FHLB NOTE 0.88 3,000,000.00 3,000,000.00 2,792,028.33 07-29-21 04-29-26 CITY 3130AN5C0 FHLB NOTE UBS 1.05 4,000,000.00 4,010,455.13 3,730,680.00 12-17-21 11-12-25 CITY 3134GXBM5 FHLMC Note UBS 1.15 1,150,000.00 1,125,785.50 1,055,366.50 12-17-21 12-30-24 CITY 3130AQDY6 FHLB 1.00 6,750,000.00 6,750,000.00 6,454,656.18 12-17-21 06-23-25 CITY 3133ENHW3 FFCB 1.17 10,000,000.00 10,000,000.00 9,422,494.90 12-20-21 07-30-25 CITY 3136G4ZP1 FANNIE MAE 0.65 3,500,000.00 3,444,175.00 3,255,845.57 12-20-21 09-24-25 CITY 3134GWUG9 FREDDIE MAC 0.57 10,000,000.00 9,806,600.00 9,209,435.10 12-21-21 12-22-26 CITY 3133ENJC5 FFCB 1.29 5,000,000.00 5,000,000.00 4,611,433.30 01-14-22 01-14-25 CITY 3130AQEA7 FHLB 1.05 7,000,000.00 7,000,000.00 6,656,914.81 06-29-22 08-12-25 CITY 3133EL3P7 Federal Farm Credit Bank 3.34 1,810,000.00 1,660,349.20 1,675,477.99 06-29-22 03-28-25 CITY 3130A5DH9 Federal Home Loan Bank 3.34 1,950,000.00 1,937,715.00 1,944,638.69 06-24-22 02-26-27 CITY 3130AL5A8 Federal Home Loan Bank 3.33 5,000,000.00 4,479,000.00 4,493,981.15 08-17-22 10-27-26 CITY 3134GW4C7 Freddie Mac Global Unsecured 0.80 5,000,000.00 4,539,500.00 4,539,500.00 01-06-23 02-25-27 CITY 3130AQRH8 Federal Home Loan Bank 4.38 5,000,000.00 4,590,638.89 4,590,638.89 01-06-23 04-19-27 CITY 3130ARHJ3 Federal Home Loan Bank 4.38 5,000,000.00 4,801,354.86 4,801,354.86 05-18-23 05-18-27 CITY 3133EPKC8 Federal Farm Credit Bank Unsec 5.39 5,000,000.00 5,000,000.00 5,000,000.00 06-05-23 05-30-28 CITY 3133EPLE3 Federal Farm Credit BondUBS 4.67 2,815,000.00 2,822,746.50 2,822,746.50 TOTAL GOVERNMENT AGENCY PAPER 108,975,000.00$ 107,273,730.58$ 102,632,723.63$
CERTIFICATES OF DEPOSIT
TOTAL CERTIFICATES OF DEPOSIT -$ -$ -$
CITY OF PALMDALE INVESTMENTS
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
JUNE 30, 2023
CORPORATE NOTES
5/17/2023 3/1/2026 CITY 30231GAT9 EXXON MOBIL CORPORATION 3.04 $1,000,000 $982,084 975,660.00 5/17/2023 3/2/2026 CITY 194162AQ6 COLGATE-PALMOLIVE CO GLOBAL4.80 $1,000,000 $1,035,553 1,025,420.00 5/17/2023 1/26/2026 CITY 742718FY0 PROCTER & GAMBLE CO/THE GLOGAL4.10 $1,000,000 $1,018,472 1,005,830.00 TOTAL CORPORATE BONDS $3,000,000 $3,036,109 3,006,910.00$
STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND
09-01-84 n/a CITY ACCOUNT 98-19-620 0.78 57,829,922.50 57,829,922.50 57,829,922.50 06/23/08 n/a PCA ACCOUNT 40-19-060 0.78 65,876,573.72 65,876,573.72 65,876,573.72 n/a ARPA ACCOUNT 19-19-004 0.78 26,683,935.84 26,683,935.84 26,683,935.84 TOTAL LAIF ACCOUNTS 150,390,432.06$ 150,390,432.06$ 150,390,432.06$
CAMP- CALIFORNIA ASSET MANAGEMENT PROGRAM
6080-01 n/a CITY ACCOUNT 6080-01 0.30 259,310.42 259,310.42 259,310.42 TOTAL CAMP ACCOUNTS 259,310.42$ 259,310.42$ 259,310.42$
UBS FINANCIAL SERVICES
n/a n/a CITY ACCOUNT 0.00 306,334.71 306,334.71 306,334.71 TOTAL UBS FINANCIAL SERVICES ACCOUNTS 306,334.71$ 306,334.71$ 306,334.71$ TOTAL CITY INVESTMENTS 334,131,077.19$ 334,216,312.65$ 325,705,581.62$
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
JUNE 30, 2023
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 12,679.97
TOTAL LIBRARY INVESTMENTS 12,679.97$
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 0.35 109.98
05-10-95 n/a IMPROVEMENT 95421222 0.10 159,830.75
City Held Cash(Fund 736-114000) ($255,912.67)
TOTAL SIERRA GATEWAY COMMUNITY FACILITIES DISTRICT 91-1 159,940.73$
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 2,667,003.65
04-06-95 n/a BOND 95420887 0.15 0.15
City Held Cash(Fund 738-114000) ($1,000,675.82)
TOTAL RITTER RANCH COMMUNITY FACILITIES DISTRICT 93-1 2,667,003.80$
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 Increase due to contribution 1,101,063.28 08-01-19 n/a RESERVE 242969003 0.00 722,959.79
08-01-19 n/a SP TAX - REFUNDING BOND 242969004 0.01 15,150.17 08-01-19 n/a SP TAX - REFUNDING BOND COI242969005 0.01 Account Closed on 12/20/22 0.00 City Held Cash(Fund 734-114000) $1,773,665.72
TOTAL ANAVERDE COMMUNITY FACILITIES DISTRICT 2003-1 1,839,173.24$
LIBRARY INVESTMENTS
FISCAL AGENT CASH
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
JUNE 30, 2023
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) $1,330,451.36
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 Increase due to contributions 556,316.89 n/a RESERVE FUND 251009001 0.01 647,994.28
City Held Cash
TOTAL 2005 $7.2M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) REFUNDED 20211,204,311.17$
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 Increase due to contributions 129,110.64 11-08-06 n/a ADM EXP 106844002 0.01 1,644.69
11-08-06 n/a RESERVE FUND 106844003 0.01 97,414.09
City Held Cash(Fund 739-114000) $145,437.61
TOTAL 2006-1 Godde Hill Estate Sewer Improvements LOIB 228,169.42$
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, 2023
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 0.00 123.86
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 $8.7M LEASE REVENUE BONDS 123.86$
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 2,979,524.90
TOTAL 2013 HA TRANSIT VILLAGE HOMES ESCROW 2,979,524.90$ 2015 HA DEBT SERVICE RESERVE
Fiscal Agent: Bank of America
11-19-15 n/a DEBT SVC RESERVE 1257964992 0.08 39,590.22 TOTAL 2015 HA DEBT SERVICE RESERVE 39,590.22$
PARS RESTRICTED CASH FOR PENSION STABILIZATION TRUST FUND 05-23-18 n/a CITY 104790895775 Public Agency Retirement Services2.60 7,691,720.96 TOTAL PARS PENSION TRUST FUND 7,691,720.96$
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 27,201.32
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 1,216,660.17 TOTAL 2015 HA $4.3M MULTIFAMILY HOUSING REVENUE BONDS 1,524,884.63$
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 0.19
04-05-17 n/a PRINCIPAL ACCT 271128002 n/a 0.00
TOTAL 2017 PFA $17.4M LEASE REVENUE BONDS 0.19$
Total City Held Cash (XXX-114000) $1,992,966.20
GRAND TOTAL - FISCAL AGENT CASH 17,130,131.95$
FISCAL AGENT CASH
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
JUNE 30, 2023
Cash on Hand 4,465,965$
Pooled Cash Investments
City: 320,625,423$
Insur Fund: $5,080,159 325,705,582$
Library Investments $12,680
Subtotal 330,184,227$
City/AD/CFD/PCA/PFA/HA
Fiscal Agent Cash 17,130,132$
Grand total 347,314,359$
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, 2023.
S:\Cash and Investment\Investment\Investment Reports\22-23\12 June 2023\[12 June 2023 Investment Report City.xls]Staff Report Notes
SUMMARY OF CASH AND INVESTMENTS
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
JUNE 30, 2023
CITY OF PALMDALE
POOLED CASH - LOCAL AGENCY INVESTMENT FUND (LAIF), CALIFORNIA ASSET MANAGEMENT PROGRAM (CAMP), & UBS FINANCIAL SERVICES June 30, 2023
TRANSACTION INTEREST
DATE DEPOSIT WITHDRAWAL RECEIVED BALANCE
CITY ACCOUNT 98-19-620
Beginning Balance 57,829,922.50$
Subtotal -$ -$ -$ 57,829,922.50$ PCA ACCOUNT 40-19-060
Beginning Balance 40,876,573.72$
06-08-23 15,000,000.00$
06-30-23 10,000,000.00$
Subtotal 25,000,000.00$ -$ -$ 65,876,573.72$ LIBRARY ACCOUNT 16-19-012
Beginning Balance 12,679.97$
Subtotal -$ -$ -$ 12,679.97$ ARPA ACCOUNT 19-19-004
Beginning Balance 26,683,935.84$
Subtotal -$ -$ -$ 26,683,935.84$
CAMP - CALIFORNIA ASSET MANAGEMENT PROGRAM
Beginning Balance 258,197.66$
06/30/23 1,112.76 $
Subtotal -$ -$ 1,112.76$ 259,310.42$ UBS Financial Services
Beginning Balance 2,864,332.38$
06/30/23 387,830.08 $
06/30/23 (123,081.25)$
06/06/23 (2,822,746.50)$
Subtotal -$ (2,945,827.75)$ 387,830.08$ 306,334.71$ Total 25,000,000.00$ (2,945,827.75)$ 388,942.84$ 150,968,757.16$ 150,709,446.74$
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
JUNE 30, 2023
TN= US Treasury C= Call
FP= Federal Paper M= Maturity
CD= Certificate of Deposit CB= Corporate Bond
FACE
PURCHASE MATURITY REDEMPTION VALUE INTEREST NET INVESTED GAIN/
ISSUER DATE DATE DATE REDEEMED RECEIVED FUNDS AMOUNT (LOSS) 3133EKPT7 Fed Farm Credit Bk06-05-19 06-05-23 06-05-23 5,000,000.00M 53,125.00$ 5,053,125.00$ 4,971,627.90 $28,372.10 M -$ -
M -$ -
M -$ -
M -$ -
M -$ -
5,000,000.00$ 53,125.00$ 5,053,125.00$ 4,971,627.90$ $28,372.10 Total Number of Transactions: 1
CITY OF PALMDALE
POOLED CASH - INVESTMENTS MATURED OR CALLED
June 30, 2023
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
JUNE 30, 2023
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 FFCB Bond 3133EPLE3 06-05-23 05-30-28 $2,815,000 7,746.50 2,822,746.50 2,191.01 $ 2,824,937.51$ 4.77 - -$
- -$
- -$
- -$
-
-$ 7,746.50$ 2,822,746.50$ 2,191.01$ 2,824,937.51$ Total Number of Transactions: 0
CITY OF PALMDALE
POOLED CASH - INVESTMENTS PURCHASED
June 30, 2023
SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
June 30, 2023
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 12,988,812.40
TOTAL LAIF ACCOUNTS 12,988,812.40$
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 2.54 529,870.75
08-20-02 n/a INTEREST ACCT 94460701 0.04 15,023.28
08-20-02 n/a PRINCIPAL ACCT 94460702 0.04 252.12
TOTAL CRA - 2002 Sub Lien Tax Allocation Bonds $5.3M ($5,329,748.25) 545,146.15$
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 2.05
04-26-16 n/a INTEREST ACCT 245113001 N/A 0.00
TOTAL 2016 SA $31.5M Tax Allocation Refunding Bonds Series A 2.05$ GRAND TOTAL - FISCAL AGENT CASH $545,148
SUMMARY OF CASH AND INVESTMENTS
Cash on Hand 1,053,255$ 1,053,255.40$
$0
Pooled Cash Investments 12,988,812$ $0
1,053,255.40$
Successor Agency Fiscal Agent Cash 545,148$ *
Grand total 14,587,215$
* 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, 2023.
S:\Cash and Investment\Investment\Investment Reports\22-23\12 June 2023\[12 June 2023 Successor Investment Report.xls]LAIF Transactions
SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
POOLED CASH - LOCAL AGENCY INVESTMENT FUND (LAIF)
June 30, 2023
TRANSACTION INTEREST
DATE DEPOSIT WITHDRAWAL RECEIVED BALANCE
SA ACCOUNT 65-19-035
Beginning Balance 4,488,812.40$
06/30/23 8,500,000.00$
Subtotal 8,500,000.00$ -$ -$ 12,988,812.40$
PORTFOLIO REVIEW AND ANALYSIS
City of Palmdale
Palmdale, CA
As of Date: 06/30/2023
Pricing as of: 06/30/2023
Date of Analysis: 07/12/2023
Account Executive: Bill Blackwill
Book Value
331,875
# Securities
46 Average Size (Book)
7,215
Yield at Book
1.16 Market Yield
3.10 $ Gain/Loss
-11,011
% Gain/Loss
-3.3%
Average Life
1.11 Average Life +300bps
1.12 % Price Change +100bps
-1.02
% Price Change +300bps
-3.02
Effective Duration
1.02 Effective Convexity
-0.01
AFS / HTM%
100% / 0%
Fixed / Floating
100% / 0%
ESG/Green Par (000's)
$0 / $0
Portfolio Overview
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Historical Portfolio Overview
06/30/2023
03/31/2023
12/31/2022
09/30/2022
Book Value
331,875
305,771
277,592
292,384
Yield at Book
1.16 1.11
1.07 1.09
Yield at Book (+100)
1.16 1.11
1.07 1.09
Yield at Book (+300)
1.16 1.11
1.07 1.09
Yield at Book (-100)
1.16 1.11
1.07 1.09
WAL
1.11 1.22
1.29 1.40
WAL (+100)
1.12 1.22
1.29 1.40
WAL (+300)
1.12 1.22
1.29 1.40
WAL (-100)
1.05 1.22
1.29 1.40
% Price Change (+100)
-1.0%
-1.1%
-1.2%
-1.3%
% Price Change (+300)
-3.0%
-3.2%
-3.4%
-3.7%
% Price Change (-100)
1.0%
1.1%
1.2%
1.3%
Effective Duration
1.02 1.08
1.16 1.28
Effective Convexity
-0.01
0.00 0.01
0.02 $ Gain/Loss
-11,011
-9,844
-11,062
-11,635
% Gain/Loss
-3.3%
-3.2%
-4.0%
-4.0%
Principal Cash Flow 2 yrs out
77%
73%
73%
61%
Principal Cash Flow 2 yrs out (+100)
77%
73%
73%
61%
Principal Cash Flow 2 yrs out (+300)
77%
73%
73%
61%
Principal Cash Flow 2 yrs out (-100)
79%
73%
73%
61%
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Portfolio Sector Summary
Portfolio
Par
Book
Yield
Market
% Price Change
Gain/(Loss)
Effective
AFS
Sector
%
Value
Cpn
Maturity
Value
@Bk
Value
Yield
-100
+100
+300
$
%
WAL
Dur
Cvx
%
Treasury (14)
21.5%
71,200
1.53 1.2 yrs
71,200
1.53 68,494
5.16 1.3
-1.2
-3.6
-2,706
-3.8%
1.24 1.23
0.03 100 %
Agency Bullet (3)
1.8%
6,000
1.76 2.3 yrs
6,000
1.76 5,603
4.84 2.3
-2.2
-6.5
-397
-6.6%
2.27 2.25
0.07 100 %
Callable Agency (22)
30.4%
101,025
1.34 2.5 yrs
101,025
1.34 93,171
5.18 2.2
-2.3
-6.7
-7,854
-7.8%
2.45 2.26
-0.07
100 %
Treasury/Agency (39)
53.7%
178,225
1.43 2.0 yrs
178,225
1.43 167,269
5.16 1.8
-1.8
-5.4
-10,956
-6.1%
1.96 1.84
-0.02
100 %
Industrial (3)
0.9%
3,000
3.98 2.6 yrs
3,000
3.98 2,945
4.72 2.6
-2.5
-7.3
-55
-1.8%
2.64 2.52
0.09 100 %
Corporate (3)
0.9%
3,000
3.98 2.6 yrs
3,000
3.98 2,945
4.72 2.6
-2.5
-7.3
-55
-1.8%
2.64 2.52
0.09 100 %
Cash & Other (4)
45.4%
150,650
0.78 0.1 yrs
150,650
0.78 150,650
0.78 0.1
-0.1
-0.3
0 0.0%
0.08 0.09
0.00 100 %
Other (4)
45.4%
150,650
0.78 0.1 yrs
150,650
0.78 150,650
0.78 0.1
-0.1
-0.3
0 0.0%
0.08 0.09
0.00 100 %
Total (46)
100.0%
331,875
1.16 1.1 yrs
331,875
1.16 320,863
3.10 1.0
-1.0
-3.0
-11,011
-3.3%
1.11 1.02
-0.01
100 %
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Shocked Analysis
-300
-200
-100
Base
+100
+200
+300
Par Value
331,875
331,875
331,875
331,875
331,875
331,875
331,875
Book Value
331,875
331,875
331,875
331,875
331,875
331,875
331,875
Market Value
330,431
327,366
324,145
320,863
317,577
314,340
311,179
Gain/(Loss)
-1,443
-4,509
-7,729
-11,011
-14,298
-17,535
-20,696
Gain/(Loss) %
-0.4%
-1.4%
-2.3%
-3.3%
-4.3%
-5.3%
-6.2%
Gain/(Loss) % - Chg from Base
3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
-3.0%
Book Price
100.00
100.00
100.00
100.00
100.00
100.00
100.00
Yield at Book
1.16 1.16
1.16 1.16
1.16 1.16
1.16 Market Price
99.57 98.64
97.67 96.68
95.69 94.72
93.76 Market Yield
0.06 1.06
2.09 3.10
4.11 5.13
6.15 WAL
0.97 1.03
1.05 1.11
1.12 1.12
1.12 City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 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
Treasury/Agency
1.8%
167,269
-1.8%
-3.7%
-5.4%
1.8%
Corporate
2.6%
2,945
-2.5%
-4.9%
-7.3%
2.5%
Other
0.1%
150,650
-0.1%
-0.2%
-0.3%
0.1%
Total
1.0%
320,863
-1.0%
-2.0%
-3.0%
1.0%
Scenario Market Val
324,145
320,863
317,577
314,340
311,179
Scenario Gain/Loss
-7,729
-11,011
-14,298
-17,535
-20,696
Total Portfolio (AFS + HTM):
% Change in Market Val from Level
-200 bps
2.0%
-100 bps
1.0%
Level Market Val
320,863
+100 bps
-1.0%
+200 bps
-2.0%
+300 bps
-3.0%
+400 bps
-4.0%
Effective Duration
1.02 Effective Convexity
-0.01
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Peer Group Comparison
As of
Book
G/L
Yield
Average Life
% Price Change
Effective
UST
Fix
Fix
Flt
Agy
Sm
Prv
CD &
%
%
Peer
Date
Value
%
@Bk
Base
-100
+300
-100
+100
+300
Dur
Cvx
Agy
MBS
ARM
CMO
CMO
CMBS
Bus.
Label
Muni
Corp
Oth
Fixed
AFS
1 03/23
355,904
-2.1
1.69 1.0
1.0 1.0
0.9 -0.9
-2.7
0.9 0.0
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
2 03/23
301,944
-3.5
1.34 1.6
1.6 1.6
1.5 -1.5
-4.3
1.5 0.0
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
3 03/23
376,540
0.0 2.62
1.4 1.4
2.5 1.4
-1.4
-4.8
1.4 -0.1
79%
0%
0%
0%
0%
0%
0%
0%
0%
21%
0%
100%
100%
4 03/23
275,601
1.8 5.21
3.8 3.5
3.9 2.8
-3.0
-8.9
2.9 -0.1
96%
0%
0%
0%
0%
1%
0%
0%
3%
0%
0%
100%
100%
5 04/23
255,786
-4.2
2.11 2.4
2.4 2.4
2.3 -2.2
-6.4
2.3 0.1
68%
0%
0%
0%
0%
0%
0%
0%
11%
10%
10%
100%
100%
6 03/23
234,661
-0.2
4.43 0.3
0.3 0.3
0.3 -0.3
-0.9
0.3 0.0
6%
0%
0%
0%
0%
0%
0%
0%
0%
0%
94%
100%
100%
7 03/23
219,195
-5.2
2.95 2.2
2.2 2.2
2.0 -2.0
-5.9
2.0 0.0
64%
0%
0%
0%
0%
0%
0%
0%
12%
20%
4%
100%
100%
8 05/23
208,677
-3.3
3.05 2.8
2.8 2.8
2.6 -2.5
-7.4
2.6 0.1
63%
0%
0%
0%
0%
0%
0%
0%
25%
0%
12%
100%
100%
9 03/23
187,875
-6.5
2.38 4.7
4.7 4.8
4.2 -4.0
-11.6
4.1 0.1
56%
2%
0%
0%
0%
2%
0%
0%
28%
13%
0%
100%
100%
10 05/23
177,951
-5.5
1.91 2.2
2.1 2.4
1.8 -1.9
-5.9
1.9 -0.1
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
11 06/23
164,662
-2.7
3.28 2.5
2.4 2.9
2.0 -2.0
-6.2
2.0 0.0
5%
4%
7%
10%
1%
10%
0%
0%
26%
36%
0%
77%
100%
12 05/23
142,877
-3.3
4.38 2.1
2.1 2.1
1.9 -1.9
-5.5
1.9 0.0
73%
0%
0%
0%
0%
0%
0%
0%
0%
0%
26%
100%
100%
13 05/23
105,810
-7.3
1.41 2.4
2.3 2.4
2.1 -2.1
-6.2
2.1 0.0
55%
0%
0%
0%
0%
0%
0%
0%
0%
28%
16%
100%
100%
14 06/23
104,229
-0.1
0.42 0.8
0.5 0.9
0.4 -0.5
-1.9
0.5 -0.2
37%
0%
0%
0%
0%
0%
0%
0%
0%
0%
63%
100%
100%
15 04/23
562,345
-5.1
1.09 1.5
1.5 1.5
1.4 -1.4
-4.1
1.4 0.0
69%
0%
0%
0%
0%
0%
0%
0%
6%
24%
1%
99%
100%
16 06/23
88,499
-5.5
2.81 3.0
2.7 3.1
2.6 -2.7
-7.9
2.6 -0.1
80%
0%
0%
0%
0%
0%
0%
0%
0%
11%
8%
98%
100%
17 03/23
66,758
-2.2
2.74 1.2
1.1 1.3
0.9 -1.0
-3.0
1.0 0.0
14%
0%
0%
0%
0%
1%
0%
0%
0%
6%
78%
100%
100%
18 05/23
607,610
-5.4
1.56 2.3
2.3 2.4
2.1 -2.1
-6.1
2.0 0.0
65%
0%
0%
0%
0%
0%
0%
0%
35%
0%
0%
100%
100%
19 06/23
53,019
-5.9
2.73 2.9
2.7 2.9
2.3 -2.4
-7.3
2.4 -0.1
99%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
100%
100%
20 06/23
52,037
-1.5
2.76 0.7
0.5 0.7
0.6 -0.6
-1.8
0.6 0.0
62%
0%
0%
0%
0%
0%
0%
0%
18%
0%
20%
100%
100%
21 03/23
48,224
1.3 2.21
2.3 2.0
2.3 1.9
-1.9
-5.8
1.9 0.0
52%
0%
0%
0%
0%
0%
0%
0%
47%
0%
1%
99%
100%
22 03/23
42,756
-1.8
3.88 2.5
1.6 2.9
1.6 -1.7
-5.7
1.7 -0.1
66%
0%
0%
0%
0%
0%
0%
0%
0%
0%
34%
100%
100%
23 06/23
42,391
-2.6
2.56 1.1
1.0 1.1
1.0 -1.0
-2.9
1.0 0.0
25%
0%
0%
0%
0%
0%
0%
0%
29%
0%
46%
100%
100%
24 06/23
36,570
-9.1
1.14 2.8
2.8 2.8
2.6 -2.6
-7.5
2.6 0.0
98%
0%
0%
0%
0%
0%
0%
0%
0%
0%
2%
100%
100%
25 06/23
32,547
-5.8
2.60 2.5
2.3 2.5
2.0 -2.1
-6.2
2.0 -0.1
23%
0%
0%
0%
0%
0%
0%
0%
0%
0%
77%
100%
100%
Avg
189,779
-3.4
2.53 2.1
2.0 2.2
1.8 -1.8
-5.5
1.8 0.0
62%
0%
0%
0%
0%
1%
0%
0%
10%
7%
20%
99%
100%
Port
331,875
-3.3
1.16 1.1
1.1 1.1
1.0 -1.0
-3.0
1.0 0.0
54%
0%
0%
0%
0%
0%
0%
0%
0%
1%
45%
100%
100%
Diff
142,096
0.1 -1.37
-1.0
-0.9
-1.1
-0.8
0.8 2.5
-0.8
0.0 -8%
0%
0%
0%
0%
-1%
0%
0%
-10%
-6%
26%
1%
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 - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 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 - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Cash Flow and Rolloff Yield - Next 12 Months
Yield Rolloff
Month
Begin BY
Principal CF
Rolloff Yld
Ending BY
Jul 2023
1.16 150,650
0.78 1.47
Aug 2023
1.47 0
1.47 Sep 2023
1.47 0
1.47 Oct 2023
1.47 0
1.47 Nov 2023
1.47 0
1.47 Dec 2023
1.47 29,000
1.22 1.52
Jan 2024
1.52 0
1.52 Feb 2024
1.52 0
1.52 Mar 2024
1.52 0
1.52 Apr 2024
1.52 5,000
2.25 1.50
May 2024
1.50 2,000
0.42 1.51
Jun 2024
1.51 3,000
0.35 1.53
Shocked Principal and Interest Cash Flow Analysis
Year
-300
-200
-100
Base
+100
+200
+300
Jul 2023
155,856
150,816
150,816
150,816
150,816
150,816
150,816
Aug 2023
5,187
5,187
5,187
120
120
120
120
Sep 2023
149
149
149
149
149
149
149
Oct 2023
115
195
195
195
195
195
195
Nov 2023
81 81
81 216
216
216
216
Dec 2023
29,587
29,587
29,587
29,587
29,587
29,587
29,587
Jan 2024
69 69
69 69
69 69
69 Feb 2024
120
120
120
120
120
120
120
Mar 2024
149
149
149
149
149
149
149
Apr 2024
5,115
5,194
5,194
5,194
5,194
5,194
5,194
May 2024
2,081
2,081
2,081
2,216
2,216
2,216
2,216
Jun 2024
3,409
3,409
3,409
3,409
3,409
3,409
3,409
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Cash Flow and Rolloff Yield - Next 10 Years
Yield Rolloff
Year
Begin BY
Principal CF
Rolloff Yld
Ending BY
2023
1.16 179,650
0.85 1.52
2024
1.52 45,750
1.08 1.71
2025
1.71 60,460
1.16 2.43
2026
2.43 23,200
1.78 3.09
2027
3.09 20,000
2.87 4.67
2028
4.67 2,815
4.67 2029
2030
2031
2032
Shocked Principal and Interest Cash Flow Analysis
Year
-300
-200
-100
Base
+100
+200
+300
2023
190,976
186,016
186,016
181,083
181,083
181,083
181,083
2024
47,566
47,725
47,725
47,995
47,995
47,995
47,995
2025
65,487
65,646
61,879
62,148
62,148
62,148
62,148
2026
27,588
27,747
23,894
24,163
24,163
24,163
24,163
2027
5,023
10,073
17,988
20,328
20,418
20,418
20,418
2028
0 0
0 2,881
2,881
2,881
2,881
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Sector Cash Flow - Next 12 Months
Jul 23
Aug 23
Sep 23
Oct 23
Nov 23
Dec 23
Jan 24
Feb 24
Mar 24
Apr 24
May 24
Jun 24
Bk Yld Chg
Treasury/Agency
Cash Flow
48 120
110
195
216
29,587
48 120
110
5,194
2,216
3,409
End BY
1.43 1.43
1.43 1.43
1.43 1.47
1.47 1.47
1.47 1.44
1.46 1.48
0.05 Corporate
Cash Flow
21 0
39 0
0 0
21 0
39 0
0 0
End BY
3.98 3.98
3.98 3.98
3.98 3.98
3.98 3.98
3.98 3.98
3.98 3.98
0.00 Other
Cash Flow
150,748
End BY
Total
Cash Flow
150,816
120
149
195
216
29,587
69 120
149
5,194
2,216
3,409
End BY
1.47 1.47
1.47 1.47
1.47 1.52
1.52 1.52
1.52 1.50
1.51 1.53
0.06 City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Sector Cash Flow - Next 3 Years
3Q23
4Q23
1Q24
2Q24
3Q24
4Q24
1Q25
2Q25
3Q25
4Q25
1Q26
2Q26
Bk Yld Chg
Treasury/Agency
Cash Flow
278
29,998
278
10,819
4,280
32,498
7,273
20,578
18,546
15,632
6,346
4,353
End BY
1.43 1.47
1.47 1.48
1.51 1.64
1.69 1.88
2.16 2.32
2.31 2.47
1.04 Corporate
Cash Flow
60 0
60 0
60 0
60 0
60 0
3,060
End BY
3.98 3.98
3.98 3.98
3.98 3.98
3.98 3.98
3.98 3.98
Other
Cash Flow
150,748
End BY
Total
Cash Flow
151,085
29,998
337
10,819
4,340
32,498
7,332
20,578
18,606
15,632
9,406
4,353
End BY
1.47 1.52
1.52 1.53
1.57 1.71
1.76 1.96
2.25 2.43
2.31 2.47
0.99 City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Gap Analysis - Potential Income Impact of Principal Reinvestment Assumed
Estimated
Income
Resulting
Reinvestment
Annualized
Difference from
Yield
Yield
Income
Current Book
at Book
0.25 474
-1,188
0.80 0.50
948
-714
0.94 0.75
1,422
-240
1.09 1.00
1,896
234
1.23 1.25
2,371
708
1.37 1.50
2,845
1,182
1.51 1.75
3,319
1,656
1.66 2.00
3,793
2,131
1.80 2.25
4,267
2,605
1.94 2.50
4,741
3,079
2.09 2.75
5,215
3,553
2.23 3.00
5,689
4,027
2.37 3.25
6,164
4,501
2.51 3.50
6,638
4,975
2.66 3.75
7,112
5,449
2.80 4.00
7,586
5,924
2.94 4.25
8,060
6,398
3.09 4.50
8,534
6,872
3.23 4.75
9,008
7,346
3.37 5.00
9,482
7,820
3.51 5.25
9,957
8,294
3.66 5.50
10,431
8,768
3.80 5.75
10,905
9,242
3.94 6.00
11,379
9,717
4.09 6.25
11,853
10,191
4.23 6.50
12,327
10,665
4.37 6.75
12,801
11,139
4.51 7.00
13,275
11,613
4.66 7.25
13,750
12,087
4.80 7.50
14,224
12,561
4.94 7.75
14,698
13,035
5.09 8.00
15,172
13,510
5.23 Principal Maturing(12 Mo.Horizon): $189,650
Current Yield at Book of Principal Maturing: 0.88%
Est. Annual Income at Current Yield at Book: $1,662
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Shocked Cash Flows By Sector - Next 10 Years
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Cash Flows By Sector - Next 30 Years
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Cash Flow Projection By Month - Next 5 Years
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Agency - Summary
G/L $
G/L %
WAL
% Px
Δ
Dur
Cvx
Sector
Par
Maturity
Bk Price
Yield
Mkt Price
Mkt
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Next Call
Bk Value
@Bk
Mkt Value
Yield
+ 300
+ 300
+ 300
+300
AFS %
1.2 yrs
100.00
96.20 -2,706
-3.8%
1.24 1.3
1.23 0.03
Treasury (14)
39.9%
71,200
1.53 71,200
1.53 68,494
5.16 -5,148
-7.2%
1.24 -3.6
100.0%
2.3 yrs
100.00
93.38 -397
-6.6%
2.27 2.3
2.25 0.07
Agency Bullet (3)
3.4%
6,000
1.76 6,000
1.76 5,603
4.84 -760
-12.7%
2.27 -6.5
100.0%
2.5 yrs
100.00
92.23 -7,854
-7.8%
2.45 2.2
2.26 -0.07
Callable Agency (22)
56.7%
101,025
1.34 0.2 yrs
101,025
1.34 93,171
5.18 -14,130
-14.0%
2.46 -6.7
100.0%
2.0 yrs
100.00
93.85 -10,956
-6.1%
1.96 1.8
1.84 -0.02
Total (39)
100.0%
178,225
1.43 0.2 yrs
178,225
1.43 167,269
5.16 -20,038
-11.2%
1.97 -5.4
100.0%
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Agency - Sector Cash Flow and Yield Rolloff - Next 3 Years 3Q23
4Q23
1Q24
2Q24
3Q24
4Q24
1Q25
2Q25
3Q25
4Q25
1Q26
2Q26
Bk Yld Chg
Cash Flow
278
29,998
278
10,819
4,280
32,498
7,273
20,578
18,546
15,632
6,346
4,353
End BY
1.43 1.47
1.47 1.48
1.51 1.64
1.69 1.88
2.16 2.32
2.31 2.47
1.04 Cash Flow
278
29,998
278
10,819
4,280
32,498
7,273
20,578
18,546
15,632
6,346
4,353
End BY
1.43 1.47
1.47 1.48
1.51 1.64
1.69 1.88
2.16 2.32
2.31 2.47
1.04 City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Shocked Agency Projected Call Schedule
Callable Agency Rate Shock Analysis
–
Projected Par Value Redeemed at NEXT Call Date
–
Monthly
-100
-75
-50
-25
0 25
50 75
100
Jun 23
-
-
-
-
-
-
-
-
-
Jul 23
-
-
-
-
-
-
-
-
-
Aug 23
5,000
-
-
-
-
-
-
-
-
Sep 23
-
-
-
-
-
-
-
-
-
Oct 23
-
-
-
-
-
-
-
-
-
Nov 23
-
-
-
-
-
-
-
-
-
Dec 23
-
-
-
-
-
-
-
-
-
Jan 24
-
-
-
-
-
-
-
-
-
Feb 24
-
-
-
-
-
-
-
-
-
Mar 24
-
-
-
-
-
-
-
-
-
Apr 24
-
-
-
-
-
-
-
-
-
May 24
-
-
-
-
-
-
-
-
-
Callable Agency Rate Shock Analysis
–
Projected Par Value Redeemed at NEXT Call Date
–
Quarterly
-100
-75
-50
-25
0 25
50 75
100
2Q23
-
-
-
-
-
-
-
-
-
3Q23
5,000
-
-
-
-
-
-
-
-
4Q23
-
-
-
-
-
-
-
-
-
1Q24
-
-
-
-
-
-
-
-
-
2Q24
-
-
-
-
-
-
-
-
-
3Q24
-
-
-
-
-
-
-
-
-
4Q24
-
-
-
-
-
-
-
-
-
1Q25
-
-
-
-
-
-
-
-
-
2Q25
2,815
-
-
-
-
-
-
-
-
3Q25
-
-
-
-
-
-
-
-
-
4Q25
-
-
-
-
-
-
-
-
-
1Q26
-
-
-
-
-
-
-
-
-
2Q26
-
-
-
-
-
-
-
-
-
3Q26
-
-
-
-
-
-
-
-
-
4Q26
-
-
-
-
-
-
-
-
-
1Q27
-
-
-
-
-
-
-
-
-
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Agency Projected Call Report - CUSIP Level
Sec
Cpn
Par
Next
Call
Mkt
Gain/
Projected Shocked Call Dates
No.
CUSIP
Issuer
Cpn
Type
Maturity
Value
Call
Type
Price
Loss
-300
-200
-100
Base
+100
+200
+300
22 3133EPKC8
FFCB
5.39 Fixed
05/18/27
5,000
08/18/23
Anytime
98.907
-55
08/23
08/23
08/23
01/27
05/27
05/27
05/27
11 3133EL2X1
FFCB
0.42 Fixed
05/06/24
2,000
07/19/23
Anytime
95.713
-86
05/24
05/24
05/24
05/24
05/24
05/24
05/24
12 3130AMQR6
FHLB
0.35 Fixed
06/07/24
3,000
09/07/23
Quarterly
95.209
-144
06/24
06/24
06/24
06/24
06/24
06/24
06/24
13 3130AMHH8
FHLB
0.41 Fixed
08/01/24
4,000
09/01/23
Quarterly
94.536
-219
08/24
08/24
08/24
08/24
08/24
08/24
08/24
14 3134GWNG7
FHLMC
0.50 Fixed
11/27/24
2,000
08/27/23
Quarterly
93.263
-135
11/24
11/24
11/24
11/24
11/24
11/24
11/24
19 3130AQDY6
FHLB
1.00 Fixed
12/30/24
6,750
07/19/23
Anytime
93.628
-430
12/24
12/24
12/24
12/24
12/24
12/24
12/24
20 3130AQEA7
FHLB
1.05 Fixed
01/14/25
7,000
10/14/23
Quarterly
93.515
-454
01/25
01/25
01/25
01/25
01/25
01/25
01/25
21 3133EMUP5
FFCB
0.71 Fixed
04/01/25
5,000
07/19/23
Anytime
92.373
-381
04/25
04/25
04/25
04/25
04/25
04/25
04/25
23 3133ELK37
FFCB
0.78 Fixed
06/16/25
5,000
07/19/23
Anytime
91.865
-407
06/25
06/25
06/25
06/25
06/25
06/25
06/25
24 3133ENHW3
FFCB
1.17 Fixed
06/23/25
10,000
07/19/23
Anytime
92.527
-747
06/25
06/25
06/25
06/25
06/25
06/25
06/25
25 3136G4ZP1
FNMA
0.65 Fixed
07/30/25
3,500
07/30/23
Quarterly
91.255
-306
07/25
07/25
07/25
07/25
07/25
07/25
07/25
26 3133EL3P7
FFCB
0.53 Fixed
08/12/25
1,810
07/19/23
Anytime
90.907
-165
08/25
08/25
08/25
08/25
08/25
08/25
08/25
29 3134GWUG9
FHLMC
0.57 Fixed
09/24/25
10,000
09/24/23
Quarterly
90.634
-937
09/25
09/25
09/25
09/25
09/25
09/25
09/25
31 3134GXBM5
FHLMC
0.60 Fixed
11/12/25
1,150
08/12/23
Quarterly
90.248
-112
11/25
11/25
11/25
11/25
11/25
11/25
11/25
35 3130AMRQ7
FHLB
0.88 Fixed
12/30/25
3,000
09/30/23
Quarterly
90.487
-285
12/25
12/25
12/25
12/25
12/25
12/25
12/25
40 3130AN5C0
FHLB
1.05 Fixed
04/29/26
4,000
07/29/23
Quarterly
90.034
-399
04/26
04/26
04/26
04/26
04/26
04/26
04/26
42 3134GW4C7
FHLMC
0.80 Fixed
10/27/26
5,000
07/27/23
Quarterly
88.003
-600
10/26
10/26
10/26
10/26
10/26
10/26
10/26
44 3133ENJC5
FFCB
1.29 Fixed
12/22/26
5,000
12/22/23
Anytime
89.172
-541
12/26
12/26
12/26
12/26
12/26
12/26
12/26
43 3133EPLE3
FFCB
4.67 Fixed
05/30/28
2,815
05/30/25
Anytime
97.310
-76
06/25
06/25
01/27
05/28
05/28
05/28
05/28
45 3130AQRH8
FHLB
2.00 Fixed
02/25/27
5,000
08/25/23
Quarterly
90.867
-457
08/26
02/27
02/27
02/27
02/27
02/27
02/27
46 3130AL5A8
FHLB
0.90 Fixed
02/26/27
5,000
08/26/23
Quarterly
87.392
-630
02/27
02/27
02/27
02/27
02/27
02/27
02/27
41 3130ARHJ3
FHLB
3.18 Fixed
04/19/27
5,000
08/19/23
Monthly
94.218
-289
07/23
10/26
04/27
04/27
04/27
04/27
04/27
Shocked Agency Projected Call Schedule - Next 12 Months -300
-200
-100
Base
+100
+200
+300
Jun 23
-
-
-
-
-
-
-
Jul 23
5,000
-
-
-
-
-
-
Aug 23
5,000
5,000
5,000
-
-
-
-
Sep 23
-
-
-
-
-
-
-
Oct 23
-
-
-
-
-
-
-
Nov 23
-
-
-
-
-
-
-
Dec 23
-
-
-
-
-
-
-
Jan 24
-
-
-
-
-
-
-
Feb 24
-
-
-
-
-
-
-
Mar 24
-
-
-
-
-
-
-
Apr 24
-
-
-
-
-
-
-
May 24
2,000
2,000
2,000
2,000
2,000
2,000
2,000
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Agency Projected Call Report - CUSIP Level
Sec
Cpn
Par
Next
Call
Mkt
Gain/
Projected Shocked Call Dates
No.
CUSIP
Issuer
Cpn
Type
Maturity
Value
Call
Type
Price
Loss
-300
-200
-100
Base
+100
+200
+300
1.34 101,025
92.226
-7,854
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Agency - Risk/Reward Analysis
Top 5 Market Yields
Security
Mkt
Mkt
Eff.
% Px
Δ
CUSIP
Description
Subsector
Value
Yld
Dur
Up 300
3133EPKC8
FFCB 5.39 05/18/27
Callable Agency
4,945
5.73%
1.79 -8.1
3130AMQR6
FHLB 0.35 06/07/24
Callable Agency
2,856
5.68%
0.95 -2.8
3130AMHH8
FHLB 0.41 08/01/24
Callable Agency
3,781
5.67%
1.10 -3.2
3133EL2X1
FFCB 0.42 05/06/24
Callable Agency
1,914
5.66%
0.86 -2.5
3134GWNG
7 FHLMC 0 1/2 11/27/24
Callable Agency
1,865
5.54%
1.43 -4.1
Bottom 5 Market Yields
Security
Mkt
Mkt
Eff.
% Px
Δ
CUSIP
Description
Subsector
Value
Yld
Dur
Up 300
9128286L9
T 2 1/4 03/31/26
Treasury
3,011
4.56%
2.70 -7.7
9128286F2
T 2 1/2 02/28/26
Treasury
2,843
4.60%
2.61 -7.5
9128285T3
T 2 5/8 12/31/25
Treasury
2,857
4.67%
2.47 -7.0
9128285T3
T 2 5/8 12/31/25
Treasury
4,762
4.67%
2.47 -7.0
3130AL5A8
FHLB 0.9 02/26/27
Callable Agency
4,370
4.69%
3.62 -10.2
Top 5 Price Volatility (% price change +300)
Security
Mkt
Mkt
Eff.
% Px
Δ
CUSIP
Description
Subsector
Value
Yld
Dur
Up 300
3133EPLE3
FFCB 4.67 05/30/28
Callable Agency
2,739
5.30%
3.39 -11.3
3130AL5A8
FHLB 0.9 02/26/27
Callable Agency
4,370
4.69%
3.62 -10.2
3130AQRH8
FHLB 2 02/25/27
Callable Agency
4,543
4.75%
3.46 -10.0
3130ARHJ3
FHLB 3.175 04/19/27
Callable Agency
4,711
4.86%
3.19 -9.9
3133ENJC5
FFCB 1.29 12/22/26
Callable Agency
4,459
4.70%
3.41 -9.7
Next 5 Projected Redemptions
Security
Mkt
Mkt
Eff.
CUSIP
Description
Subsector
Value
Yld
Dur
Mat/Call
912828V23
T 2 1/4 12/31/23
Treasury
3,939
5.38%
0.51 12/01/23
9128285U0
T 2 5/8 12/31/23
Treasury
4,934
5.34%
0.51 12/01/23
912828V23
T 2 1/4 12/31/23
Treasury
4,924
5.38%
0.51 12/01/23
91282CBA8
T 0 1/8 12/15/23
Treasury
9,772
5.21%
0.47 12/01/23
91282CBA8
T 0 1/8 12/15/23
Treasury
4,886
5.21%
0.47 12/01/23
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Corporate - Summary
G/L $
G/L %
WAL
% Px
Δ
Dur
Cvx
Sector
Par
Moody's
Bk Price
Yield
Mkt Price
Mkt
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Maturity
S&P
Bk Value
@Bk
Mkt Value
Yield
+ 300
+ 300
+ 300
+300
AFS %
Aa2
100.00
98.17 -55
-1.8%
2.64 2.6
2.52 0.09
Industrial (3)
100.0%
3,000
3.98 2.6 yrs
AA-
3,000
3.98 2,945
4.72 -270
-9.0%
2.64 -7.3
100.0%
Aa2
100.00
98.17 -55
-1.8%
2.64 2.6
2.52 0.09
Total (3)
100.0%
3,000
3.98 2.6 yrs
AA-
3,000
3.98 2,945
4.72 -270
-9.0%
2.64 -7.3
100.0%
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Corporate - Rating Summary
Combined Rating Summary
Maturity Summary
Combined Rating
% Balance
Par Value
Yield at Book
Eff. Duration
Maturity Range
% Balance
Par Value
Yield at Book
Combined
Rating
AAA
-
-
-
-
< 1 Yr
-
-
-
-
AA
100.0%
3,000
3.98 2.52
1.00 Yr - 2.99 Yr
100.0%
3,000
3.98 AA
A
-
-
-
-
3.00 Yr - 4.99 Yr
-
-
-
-
BBB
-
-
-
-
5.00 Yr - 6.99 Yr
-
-
-
-
BB
-
-
-
-
7.00 Yr - 9.99 Yr
-
-
-
-
B or Below
-
-
-
-
10 Yr +
-
-
-
-
NR
-
-
-
-
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Other - Summary
G/L $
G/L %
WAL
Px Chg
Dur
Cvx
Sector
Par
Maturity
Bk Price
Yield
Mkt Price
Mkt
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Next Call
Bk Value
@Bk
Mkt 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 (4)
100.0%
150,650
0.78 150,650
0.78 150,650
0.78 -388
-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 (4)
100.0%
150,650
0.78 150,650
0.78 150,650
0.78 -388
-0.3%
0.08 -0.3
100.0%
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Portfolio Considerations
Par
Book
Market
Gain/
Yield
Eff.
Historical CPR
Proj. CPR
Loan
Sector
Cnt
Cpn
Maturity
Value
Price
Price
(Loss)
@ Book
WAL
Dur
1 Mo.
3 Mo.
Life
Life
Count
Yield at Book < 2%
29 0.79
0.9 yrs
276,860
100.00
96.66 -9,239
0.80 0.9
0.87 Treasury
5 0.63
1.0 yrs
35,000
100.00
95.66 -1,520
0.63 1.0
1.03 Agency Bullet
1 0.50
2.4 yrs
3,000
100.00
90.52 -284
0.50 2.4
2.38 Callable Agency
19 0.90
2.2 yrs
88,210
100.00
91.57 -7,434
0.90 2.2
2.20 Cash & Other
4 0.78
0.1 yrs
150,650
100.00
100.00
0 0.78
0.1 0.09
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Key Portfolio Sorts
Top 10 Up 300 Market Value Changes (%)
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
3133EPLE3
Callable Agency
FFCB 4.67 05/30/28
4.67 05/30/28
2,815
100.00
97.31 -76
4.669
4.92 -11.25
-308
-384
3.39 AFS
3130AL5A8
Callable Agency
FHLB 0.9 02/26/27
0.90 02/26/27
5,000
100.00
87.39 -630
0.900
3.66 -10.23
-447
-1,077
3.62 AFS
3130AQRH8
Callable Agency
FHLB 2 02/25/27
2.00 02/25/27
5,000
100.00
90.87 -457
2.000
3.65 -9.99
-454
-910
3.46 AFS
3130ARHJ3
Callable Agency
FHLB 3.175 04/19/27
3.18 04/19/27
5,000
100.00
94.22 -289
3.174
3.80 -9.90
-466
-756
3.19 AFS
3133ENJC5
Callable Agency
FFCB 1.29 12/22/26
1.29 12/22/26
5,000
100.00
89.17 -541
1.290
3.48 -9.69
-432
-973
3.41 AFS
3134GW4C7
Callable Agency
FHLMC 0.8 10/27/26
0.80 10/27/26
5,000
100.00
88.00 -600
0.800
3.33 -9.37
-412
-1,012
3.31 AFS
3133EPKC8
Callable Agency
FFCB 5.39 05/18/27
5.39 05/18/27
5,000
100.00
98.91 -55
5.390
3.55 -8.12
-402
-456
1.79 AFS
3130AN5C0
Callable Agency
FHLB 1.05 04/29/26
1.05 04/29/26
4,000
100.00
90.03 -399
1.050
2.83 -8.03
-289
-688
2.81 AFS
9128286L9
Treasury
T 2 1/4 03/31/26
2.25 03/31/26
3,200
100.00
94.09 -189
2.250
2.75 -7.72
-233
-422
2.70 AFS
9128286F2
Treasury
T 2 1/2 02/28/26
2.50 02/28/26
3,000
100.00
94.78 -157
2.499
2.67 -7.48
-213
-369
2.61 AFS
2.32 43,015
100.00
92.11 -3,392
2.320
3.47 -9.23
-3,656
-7,048
3.03 Top 10 Up 300 Market Value Changes ($)
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
3134GWUG9
Callable Agency
FHLMC 0.57 09/24/25
0.57 09/24/25
10,000
100.00
90.63 -937
0.570
2.23 -6.45
-585
-1,521
2.25 AFS
3133ENHW3
Callable Agency
FFCB 1.17 06/23/25
1.17 06/23/25
10,000
100.00
92.53 -747
1.170
1.98 -5.72
-529
-1,276
1.99 AFS
3130ARHJ3
Callable Agency
FHLB 3.175 04/19/27
3.18 04/19/27
5,000
100.00
94.22 -289
3.174
3.80 -9.90
-466
-756
3.19 AFS
3130AQRH8
Callable Agency
FHLB 2 02/25/27
2.00 02/25/27
5,000
100.00
90.87 -457
2.000
3.65 -9.99
-454
-910
3.46 AFS
3130AL5A8
Callable Agency
FHLB 0.9 02/26/27
0.90 02/26/27
5,000
100.00
87.39 -630
0.900
3.66 -10.23
-447
-1,077
3.62 AFS
3133ENJC5
Callable Agency
FFCB 1.29 12/22/26
1.29 12/22/26
5,000
100.00
89.17 -541
1.290
3.48 -9.69
-432
-973
3.41 AFS
3134GW4C7
Callable Agency
FHLMC 0.8 10/27/26
0.80 10/27/26
5,000
100.00
88.00 -600
0.800
3.33 -9.37
-412
-1,012
3.31 AFS
91282CDN8
Treasury
T 1 12/15/24
1.00 12/15/24
10,000
100.00
94.11 -589
1.001
1.46 -4.27
-402
-991
1.48 AFS
3133EPKC8
Callable Agency
FFCB 5.39 05/18/27
5.39 05/18/27
5,000
100.00
98.91 -55
5.390
3.55 -8.12
-402
-456
1.79 AFS
9128285T3
Treasury
T 2 5/8 12/31/25
2.63 12/31/25
5,000
100.00
95.23 -238
2.625
2.50 -7.05
-336
-574
2.47 AFS
1.67 65,000
100.00
92.18 -5,083
1.666
2.72 -7.45
-4,464
-9,547
2.50 City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Key Portfolio Sorts
Top 10 Marked to Market Up 300 Loss Positions
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
3134GWUG9
Callable Agency
FHLMC 0.57 09/24/25
0.57 09/24/25
10,000
100.00
90.63 -937
0.570
2.23 -6.45
-585
-1,521
2.25 AFS
3133ENHW3
Callable Agency
FFCB 1.17 06/23/25
1.17 06/23/25
10,000
100.00
92.53 -747
1.170
1.98 -5.72
-529
-1,276
1.99 AFS
3130AL5A8
Callable Agency
FHLB 0.9 02/26/27
0.90 02/26/27
5,000
100.00
87.39 -630
0.900
3.66 -10.23
-447
-1,077
3.62 AFS
3134GW4C7
Callable Agency
FHLMC 0.8 10/27/26
0.80 10/27/26
5,000
100.00
88.00 -600
0.800
3.33 -9.37
-412
-1,012
3.31 AFS
91282CDN8
Treasury
T 1 12/15/24
1.00 12/15/24
10,000
100.00
94.11 -589
1.001
1.46 -4.27
-402
-991
1.48 AFS
3133ENJC5
Callable Agency
FFCB 1.29 12/22/26
1.29 12/22/26
5,000
100.00
89.17 -541
1.290
3.48 -9.69
-432
-973
3.41 AFS
3130AQRH8
Callable Agency
FHLB 2 02/25/27
2.00 02/25/27
5,000
100.00
90.87 -457
2.000
3.65 -9.99
-454
-910
3.46 AFS
3130ARHJ3
Callable Agency
FHLB 3.175 04/19/27
3.18 04/19/27
5,000
100.00
94.22 -289
3.174
3.80 -9.90
-466
-756
3.19 AFS
3130AQEA7
Callable Agency
FHLB 1.05 01/14/25
1.05 01/14/25
7,000
100.00
93.51 -454
1.050
1.54 -4.50
-294
-748
1.55 AFS
3130AQDY6
Callable Agency
FHLB 1 12/30/24
1.00 12/30/24
6,750
100.00
93.63 -430
1.000
1.50 -4.38
-277
-707
1.52 AFS
1.20 68,750
100.00
91.75 -5,674
1.198
2.43 -6.81
-4,298
-9,973
2.36 Top 10 Average Life Extension Up 300bps
Par
Book
Market
Yield
% Px
Δ
Eff.
WAL
Chg in
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
+300
Dur
WAL
+300
WAL
INT
3133EPKC8
Callable Agency
FFCB 5.39 05/18/27
5.39 05/18/27
5,000
100.00
98.91 -55
5.390
-8.12
1.79 3.55
3.88 0.34
AFS
9128286L9
Treasury
T 2 1/4 03/31/26
2.25 03/31/26
3,200
100.00
94.09 -189
2.250
-7.72
2.70 2.75
2.75 0.00
AFS
3133EPLE3
Callable Agency
FFCB 4.67 05/30/28
4.67 05/30/28
2,815
100.00
97.31 -76
4.669
-11.25
3.39 4.92
4.92 0.00
AFS
9128286F2
Treasury
T 2 1/2 02/28/26
2.50 02/28/26
3,000
100.00
94.78 -157
2.499
-7.48
2.61 2.67
2.67 0.00
AFS
91282CBA8
Treasury
T 0 1/8 12/15/23
0.13 12/15/23
10,000
100.00
97.72 -228
0.125
-1.38
0.47 0.46
0.46 0.00
AFS
9128285T3
Treasury
T 2 5/8 12/31/25
2.63 12/31/25
3,000
100.00
95.23 -143
2.625
-7.05
2.47 2.50
2.50 0.00
AFS
3130AMHH8
Callable Agency
FHLB 0.41 08/01/24
0.41 08/01/24
4,000
100.00
94.54 -219
0.410
-3.21
1.10 1.09
1.09 0.00
AFS
3133EL3P7
Callable Agency
FFCB 0.53 08/12/25
0.53 08/12/25
1,810
100.00
90.91 -165
0.530
-6.13
2.13 2.12
2.12 0.00
AFS
9128283P3
Treasury
T 2 1/4 12/31/24
2.25 12/31/24
3,000
100.00
95.75 -128
2.256
-4.36
1.51 1.50
1.50 0.00
AFS
9128286R6
Treasury
T 2 1/4 04/30/24
2.25 04/30/24
5,000
100.00
97.42 -129
2.252
-2.47
0.84 0.83
0.83 0.00
AFS
2.07 40,825
100.00
96.36 -1,487
2.071
-4.98
1.56 1.89
1.93 0.04
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Agency - CUSIP Detail
Maturity
Book
Market
Gain/(Loss)
% Px
Δ
Eff.
CUSIP
Cpn Type
Next Call Dt
Step Date
Proj.
Price
Price
bp
→
call
%
-100
Dur
ESG/Gr
Security Description
Ticker
Par
Coupon
Call Type
Step Cpn
Final
Value
Yield
Value
Yield
$
+300
Cvx
Intent
91282CBA8
Fixed
12/23
100.00
97.72 -2.3%
0.5 0.47
T 0 1/8 12/15/23
T
10,000
0.125
12/15/23
10,000
0.12 9,772
5.21 -228
-1.4
0.00 AFS
91282CBA8
Fixed
12/23
100.00
97.72 -2.3%
0.5 0.47
T 0 1/8 12/15/23
T
5,000
0.125
12/15/23
5,000
0.12 4,886
5.21 -114
-1.4
0.00 AFS
9128285U0
Fixed
12/23
100.00
98.69 -1.3%
0.5 0.51
T 2 5/8 12/31/23
T
5,000
2.625
12/31/23
5,000
2.65 4,934
5.34 -66
-1.5
0.01 AFS
912828V23
Fixed
12/23
100.00
98.48 -1.5%
0.5 0.51
T 2 1/4 12/31/23
T
5,000
2.250
12/31/23
5,000
2.27 4,924
5.38 -76
-1.5
0.01 AFS
912828V23
Fixed
12/23
100.00
98.48 -1.5%
0.5 0.51
T 2 1/4 12/31/23
T
4,000
2.250
12/31/23
4,000
2.27 3,939
5.38 -61
-1.5
0.01 AFS
9128286R6
Fixed
04/24
100.00
97.42 -2.6%
0.9 0.84
T 2 1/4 04/30/24
T
5,000
2.250
04/30/24
5,000
2.25 4,871
5.46 -129
-2.5
0.01 AFS
91282CDN8
Fixed
12/24
100.00
94.11 -5.9%
1.5 1.48
T 1 12/15/24
T
5,000
1.000
12/15/24
5,000
1.00 4,705
5.25 -295
-4.3
0.04 AFS
91282CDN8
Fixed
12/24
100.00
94.11 -5.9%
1.5 1.48
T 1 12/15/24
T
5,000
1.000
12/15/24
5,000
1.00 4,705
5.25 -295
-4.3
0.04 AFS
91282CDN8
Fixed
12/24
100.00
94.11 -5.9%
1.5 1.48
T 1 12/15/24
T
10,000
1.000
12/15/24
10,000
1.00 9,411
5.25 -589
-4.3
0.04 AFS
9128283P3
Fixed
12/24
100.00
95.75 -4.3%
1.5 1.51
T 2 1/4 12/31/24
T
3,000
2.250
12/31/24
3,000
2.26 2,873
5.24 -128
-4.4
0.04 AFS
9128286F2
Fixed
02/26
100.00
94.78 -5.2%
2.7 2.61
T 2 1/2 02/28/26
T
3,000
2.500
02/28/26
3,000
2.50 2,843
4.60 -157
-7.5
0.10 AFS
9128286L9
Fixed
03/26
100.00
94.09 -5.9%
2.8 2.70
T 2 1/4 03/31/26
T
3,200
2.250
03/31/26
3,200
2.25 3,011
4.56 -189
-7.7
0.10 AFS
9128285T3
Fixed
12/25
100.00
95.23 -4.8%
2.5 2.47
T 2 5/8 12/31/25
T
5,000
2.625
12/31/25
5,000
2.62 4,762
4.67 -238
-7.0
0.09 AFS
9128285T3
Fixed
12/25
100.00
95.23 -4.8%
2.5 2.47
T 2 5/8 12/31/25
T
3,000
2.625
12/31/25
3,000
2.62 2,857
4.67 -143
-7.0
0.09 AFS
Treasury
100.00
96.20 -3.8%
1.3 1.23
71,200
1.530
71,200
1.53 68,494
5.16 -2,706
-3.6
0.03 3133EJYM5
Fixed
09/25
100.00
96.24 -3.8%
2.2 2.14
FFCB 3.02 09/04/25
FFCB
1,000
3.020
09/04/25
1,000
3.02 962
4.86 -38
-6.2
0.07 AFS
3133EJYM5
Fixed
09/25
100.00
96.24 -3.8%
2.2 2.14
FFCB 3.02 09/04/25
FFCB
2,000
3.020
09/04/25
2,000
3.02 1,925
4.86 -75
-6.2
0.07 AFS
3135G06G3
Fixed
11/25
100.00
90.52 -9.5%
2.4 2.38
FNMA 0 1/2 11/07/25
FNMA
3,000
0.500
11/07/25
3,000
0.50 2,716
4.81 -284
-6.8
0.08 AFS
Agency Bullet
100.00
93.38 -6.6%
2.3 2.25
6,000
1.760
6,000
1.76 5,603
4.84 -397
-6.5
0.07 3130AMRQ7
Fixed
09/30/23
12/25
100.00
90.49 -509
-9.5%
2.5 2.51
FHLB 0 7/8 12/30/25
FHLB
3,000
0.875
Quarterly
12/30/25
3,000
0.87 2,715
4.97 -285
-7.2
0.07 AFS
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Agency - CUSIP Detail
Maturity
Book
Market
Gain/(Loss)
% Px
Δ
Eff.
CUSIP
Cpn Type
Next Call Dt
Step Date
Proj.
Price
Price
bp
→
call
%
-100
Dur
ESG/Gr
Security Description
Ticker
Par
Coupon
Call Type
Step Cpn
Final
Value
Yield
Value
Yield
$
+300
Cvx
Intent
3134GXBM5
Fixed
08/12/23
11/25
100.00
90.25 -539
-9.8%
2.4 2.39
FHLMC 0.6 11/12/25
FHLMC
1,150
0.600
Quarterly
11/12/25
1,150
0.60 1,038
5.02 -112
-6.8
0.07 AFS
3134GWUG9
Fixed
09/24/23
09/25
100.00
90.63 -537
-9.4%
2.3 2.25
FHLMC 0.57 09/24/25
FHLMC
10,000
0.570
Quarterly
09/24/25
10,000
0.57 9,063
5.06 -937
-6.5
0.06 AFS
3130AN5C0
Fixed
07/29/23
04/26
100.00
90.03 -475
-10.0%
2.9 2.81
FHLB 1.05 04/29/26
FHLB
4,000
1.050
Quarterly
04/29/26
4,000
1.05 3,601
4.86 -399
-8.0
0.10 AFS
3130ARHJ3
Fixed
08/19/23
04/27
100.00
94.22 -280
-5.8%
3.0 3.19
FHLB 3.175 04/19/27
FHLB
5,000
3.175
Monthly
04/19/27
5,000
3.17 4,711
4.86 -289
-9.9
-0.33
AFS
3134GW4C7
Fixed
07/27/23
10/26
100.00
88.00 -496
-12.0%
3.4 3.31
FHLMC 0.8 10/27/26
FHLMC
5,000
0.800
Quarterly
10/27/26
5,000
0.80 4,400
4.74 -600
-9.4
0.13 AFS
3133EPLE3
Fixed
05/30/25
05/28
100.00
97.31 -90
-2.7%
3.2 3.39
FFCB 4.67 05/30/28
FFCB
2,815
4.670
Anytime
05/30/28
2,815
4.67 2,739
5.30 -76
-11.3
-0.73
AFS
3133ENJC5
Fixed
12/22/23
12/26
100.00
89.17 -442
-10.8%
3.4 3.41
FFCB 1.29 12/22/26
FFCB
5,000
1.290
Anytime
12/22/26
5,000
1.29 4,459
4.70 -541
-9.7
0.10 AFS
3130AQRH8
Fixed
08/25/23
02/27
100.00
90.87 -384
-9.1%
3.5 3.46
FHLB 2 02/25/27
FHLB
5,000
2.000
Quarterly
02/25/27
5,000
2.00 4,543
4.75 -457
-10.0
0.13 AFS
3130AL5A8
Fixed
08/26/23
02/27
100.00
87.39 -489
-12.6%
3.7 3.62
FHLB 0.9 02/26/27
FHLB
5,000
0.900
Quarterly
02/26/27
5,000
0.90 4,370
4.69 -630
-10.2
0.16 AFS
3130AQDY6
Fixed
07/19/23
12/24
100.00
93.63 -535
-6.4%
1.5 1.52
FHLB 1 12/30/24
FHLB
6,750
1.000
Anytime
12/30/24
6,750
1.00 6,320
5.48 -430
-4.4
0.03 AFS
3130AQEA7
Fixed
10/14/23
01/25
100.00
93.51 -514
-6.5%
1.6 1.55
FHLB 1.05 01/14/25
FHLB
7,000
1.050
Quarterly
01/14/25
7,000
1.05 6,546
5.50 -454
-4.5
0.03 AFS
3133EMUP5
Fixed
07/19/23
04/25
100.00
92.37 -562
-7.6%
1.8 1.77
FFCB 0.71 04/01/25
FFCB
5,000
0.710
Anytime
04/01/25
5,000
0.71 4,619
5.32 -381
-5.1
0.05 AFS
3133EPKC8
Fixed
08/18/23
01/27
100.00
98.91 -90
-1.1%
1.2 1.79
FFCB 5.39 05/18/27
FFCB
5,000
5.390
Anytime
05/18/27
5,000
5.39 4,945
5.73 -55
-8.1
-1.57
AFS
3133ELK37
Fixed
07/19/23
06/25
100.00
91.86 -534
-8.1%
2.0 1.98
FFCB 0.78 06/16/25
FFCB
5,000
0.780
Anytime
06/16/25
5,000
0.78 4,593
5.20 -407
-5.7
0.06 AFS
3133ENHW3
Fixed
07/19/23
06/25
100.00
92.53 -491
-7.5%
2.0 1.99
FFCB 1.17 06/23/25
FFCB
10,000
1.170
Anytime
06/23/25
10,000
1.17 9,253
5.19 -747
-5.7
0.04 AFS
3136G4ZP1
Fixed
07/30/23
07/25
100.00
91.25 -551
-8.7%
2.1 2.09
FNMA 0.65 07/30/25
FNMA
3,500
0.650
Quarterly
07/30/25
3,500
0.65 3,194
5.13 -306
-6.0
0.06 AFS
3133EL3P7
Fixed
07/19/23
08/25
100.00
90.91 -558
-9.1%
2.2 2.13
FFCB 0.53 08/12/25
FFCB
1,810
0.530
Anytime
08/12/25
1,810
0.53 1,645
5.12 -165
-6.1
0.06 AFS
3133EL2X1
Fixed
07/19/23
05/24
100.00
95.71 -584
-4.3%
0.9 0.86
FFCB 0.42 05/06/24
FFCB
2,000
0.420
Anytime
05/06/24
2,000
0.42 1,914
5.66 -86
-2.5
0.01 AFS
3130AMQR6
Fixed
09/07/23
06/24
100.00
95.21 -588
-4.8%
1.0 0.95
FHLB 0.35 06/07/24
FHLB
3,000
0.350
Quarterly
06/07/24
3,000
0.35 2,856
5.68 -144
-2.8
0.02 AFS
3130AMHH8
Fixed
09/01/23
08/24
100.00
94.54 -592
-5.5%
1.1 1.10
FHLB 0.41 08/01/24
FHLB
4,000
0.410
Quarterly
08/01/24
4,000
0.41 3,781
5.67 -219
-3.2
0.02 AFS
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Agency - CUSIP Detail
Maturity
Book
Market
Gain/(Loss)
% Px
Δ
Eff.
CUSIP
Cpn Type
Next Call Dt
Step Date
Proj.
Price
Price
bp
→
call
%
-100
Dur
ESG/Gr
Security Description
Ticker
Par
Coupon
Call Type
Step Cpn
Final
Value
Yield
Value
Yield
$
+300
Cvx
Intent
3134GWNG7
Fixed
08/27/23
11/24
100.00
93.26 -568
-6.7%
1.4 1.43
FHLMC 0 1/2 11/27/24
FHLMC
2,000
0.500
Quarterly
11/27/24
2,000
0.50 1,865
5.54 -135
-4.1
0.03 AFS
Callable Agency
100.00
92.23 -7.8%
2.2 2.26
101,025
1.338
101,025
1.34 93,171
5.18 -7,854
-6.7
-0.07
Total
100.00
93.85 -6.1%
1.8 1.84
178,225
1.429
178,225
1.43 167,269
5.16 -10,956
-5.4
-0.02
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Corporate - CUSIP Detail
Gain/(Loss)
% Px
Δ
Eff.
CUSIP
Sector
Par
Index
Moody's
Bk Price
Yield
Mkt Price
Mkt
%
-100
Dur
ESG/Gr
Security Description
Subsector
Value
Cpn
Maturity
Margin
S&P
Bk Value
@Bk
Mkt Value
Yield
$
+300
Cvx
Intent
742718FY0
Industrial
AA-
100.00
98.76 -1.2%
2.6 2.46
PG 4.1 01/26/26
Consumer
Goods
1,000
4.100
01/26/26
Aa3
1,000
4.10 988
4.61 -12
-7.1
0.09 AFS
194162AQ6
Industrial
AA-
100.00
100.17
0.2%
2.6 2.54
CL 4.8 03/02/26
Consumer
Goods
1,000
4.800
03/02/26
Aa3
1,000
4.80 1,002
4.73 2
-7.3
0.09 AFS
30231GAT9
Industrial
AA-
100.00
95.58 -4.4%
2.6 2.55
XOM 3.043 03/01/26
Energy Company
1,000
3.043
03/01/26
Aa2
1,000
3.04 956
4.83 -44
-7.4
0.08 AFS
Industrial
AA-
100.00
98.17 -1.8%
2.6 2.52
3,000
3.981
Aa2
3,000
3.98 2,945
4.72 -55
-7.3
0.09 Total
AA-
100.00
98.17 -1.8%
2.6 2.52
3,000
3.981
Aa2
3,000
3.98 2,945
4.72 -55
-7.3
0.09 City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Other - CUSIP Detail
Coupon
Step
Gain/(Loss)
% Px
Δ
Effective
Par
Type
Date
Proj.Mat.
Bk Price
Yield
Mkt Price
%
-100
Dur
ESG/G
r
CUSIP
Ticker
Value
Rate
Rate
Final Mat.
Bk Value
@ Bk
Mkt Value
Mkt Yield
$
+300
Cvx
Intent
Fixed
07/23
100.00
100.00
0.0%
0.1 0.09
PLMDLCAMP
259
0.300
07/31/23
259
0.30 259
0.30 0
-0.3
0.00 AFS
Fixed
07/23
100.00
100.00
0.0%
0.1 0.09
PLMDLLAIF
26,684
0.780
07/31/23
26,684
0.78 26,684
0.78 0
-0.3
0.00 AFS
Fixed
07/23
100.00
100.00
0.0%
0.1 0.09
PLMDLLAIF
57,830
0.780
07/31/23
57,830
0.78 57,830
0.78 0
-0.3
0.00 AFS
Fixed
07/23
100.00
100.00
0.0%
0.1 0.09
PLMDLLAIF
65,877
0.780
07/31/23
65,877
0.78 65,877
0.78 0
-0.3
0.00 AFS
100.00
100.00
0.0%
0.1 0.09
Cash & Other
150,650
0.779
150,650
0.78 150,650
0.78 0
-0.3
0.00 100.00
100.00
0.0%
0.1 0.09
Total
150,650
0.779
150,650
0.78 150,650
0.78 0
-0.3
0.00 City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Shocked CUSIP Analysis
-300
-200
-100
Base
+100
+200
+300
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
WAL
Dur
WAL
WAL
WAL
WAL
2,000
51 2.65%
34 1.76%
17 0.87%
0 0.00%
-16
-0.86%
-32
-1.70%
-48
-2.52%
3133EL2X1
0.42 98.25
2.52 97.39
3.56 96.55
4.61 95.71
5.66 94.89
6.70 94.09
7.74 93.30
8.78 FFCB 0.42 05/06/24
05/06/2024
0.85 0.85
0.85 0.86
0.85 0.85
0.85 0.85
1,810
108
6.54%
72 4.37%
36 2.17%
0 0.00%
-35
-2.11%
-68
-4.15%
-101
-6.13%
3133EL3P7
0.53 96.86
2.06 94.88
3.04 92.88
4.08 90.91
5.12 88.99
6.16 87.14
7.19 85.34
8.22 FFCB 0.53 08/12/25
08/12/2025
2.12 2.12
2.12 2.13
2.12 2.12
2.12 2.12
5,000
249
5.40%
167
3.62%
83 1.79%
0 0.00%
-81
-1.75%
-159
-3.45%
-236
-5.10%
3133EMUP5
0.71 97.36
2.25 95.71
3.24 94.03
4.28 92.37
5.32 90.76
6.36 89.19
7.40 87.66
8.43 FFCB 0.71 04/01/25
04/01/2025
1.75 1.75
1.75 1.77
1.75 1.75
1.75 1.75
5,000
276
6.00%
185
4.03%
92 2.00%
0 0.00%
-90
-1.95%
-176
-3.84%
-261
-5.68%
3133ELK37
0.78 97.38
2.15 95.57
3.13 93.70
4.16 91.86
5.20 90.07
6.24 88.33
7.27 86.65
8.30 FFCB 0.78 06/16/25
06/16/2025
1.96 1.96
1.96 1.98
1.96 1.96
1.96 1.96
10,000
549
5.93%
372
4.02%
186
2.01%
0 0.00%
-181
-1.96%
-358
-3.87%
-529
-5.72%
3133ENHW3
1.17 98.01
2.20 96.25
3.14 94.38
4.15 92.53
5.19 90.71
6.23 88.95
7.26 87.24
8.29 FFCB 1.17 06/23/25
06/23/2025
1.98 1.98
1.98 1.99
1.98 1.98
1.98 1.98
5,000
436
9.77%
304
6.81%
154
3.45%
0 0.00%
-150
-3.36%
-294
-6.59%
-432
-9.69%
3133ENJC5
1.29 97.89
1.92 95.25
2.73 92.24
3.69 89.17
4.70 86.18
5.73 83.29
6.76 80.54
7.79 FFCB 1.29 12/22/26
12/22/2026
3.48 3.48
3.48 3.41
3.48 3.48
3.48 3.48
1,000
65 6.80%
43 4.46%
21 2.19%
0 0.00%
-20
-2.13%
-40
-4.18%
-59
-6.18%
3133EJYM5
3.02 102.78
1.71 100.53
2.77 98.35
3.82 96.24
4.86 94.19
5.90 92.21
6.93 90.29
7.96 FFCB 3.02 09/04/25
09/04/2025
2.18 2.18
2.18 2.14
2.18 2.18
2.18 2.18
2,000
131
6.80%
86 4.46%
42 2.19%
0 0.00%
-41
-2.13%
-81
-4.18%
-119
-6.18%
3133EJYM5
3.02 102.78
1.71 100.53
2.77 98.35
3.82 96.24
4.86 94.19
5.90 92.21
6.93 90.29
7.96 FFCB 3.02 09/04/25
09/04/2025
2.18 2.18
2.18 2.14
2.18 2.18
2.18 2.18
2,815
223
8.15%
160
5.82%
86 3.15%
0 0.00%
-99
-3.60%
-203
-7.42%
-308
-11.25%
3133EPLE3
4.67 105.24
1.98 102.98
3.12 100.38
4.55 97.31
5.30 93.81
6.15 90.09
7.09 86.36
8.09 FFCB 4.67 05/30/28
05/30/2028
2.00 2.00
3.58 3.39
4.92 4.92
4.92 4.92
5,000
77 1.57%
71 1.43%
59 1.19%
0 0.00%
-111
-2.25%
-250
-5.06%
-402
-8.12%
3133EPKC8
5.39 100.46
1.96 100.32
3.00 100.08
4.78 98.91
5.73 96.68
6.36 93.90
7.22 90.87
8.18 FFCB 5.39 05/18/27
05/18/2027
0.13 0.13
0.13 1.79
3.55 3.88
3.88 3.88
3,000
205
7.54%
138
5.10%
69 2.54%
0 0.00%
-67
-2.47%
-132
-4.85%
-194
-7.16%
3130AMRQ7
0.88 97.31
1.98 95.10
2.92 92.78
3.93 90.49
4.97 88.25
6.01 86.09
7.04 84.01
8.07 FHLB 0 7/8 12/30/25
12/30/2025
2.50 2.50
2.50 2.51
2.50 2.50
2.50 2.50
3,000
84 2.93%
55 1.94%
27 0.96%
0 0.00%
-27
-0.94%
-53
-1.87%
-79
-2.78%
3130AMQR6
0.35 98.00
2.53 97.06
3.58 96.12
4.63 95.21
5.68 94.31
6.72 93.43
7.76 92.57
8.80 FHLB 0.35 06/07/24
06/07/2024
0.94 0.94
0.94 0.95
0.94 0.94
0.94 0.94
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Shocked CUSIP Analysis
-300
-200
-100
Base
+100
+200
+300
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
WAL
Dur
WAL
WAL
WAL
WAL
4,000
129
3.40%
85 2.25%
42 1.12%
0 0.00%
-41
-1.09%
-82
-2.16%
-121
-3.21%
3130AMHH8
0.41 97.75
2.52 96.67
3.57 95.59
4.62 94.54
5.67 93.50
6.71 92.49
7.75 91.50
8.79 FHLB 0.41 08/01/24
08/01/2024
1.09 1.09
1.09 1.10
1.09 1.09
1.09 1.09
5,000
473
10.82%
323
7.39%
161
3.69%
0 0.00%
-156
-3.56%
-305
-6.97%
-447
-10.23%
3130AL5A8
0.90 96.85
1.79 93.85
2.68 90.61
3.67 87.39
4.69 84.28
5.73 81.30
6.76 78.46
7.78 FHLB 0.9 02/26/27
02/26/2027
3.66 3.66
3.66 3.62
3.66 3.66
3.66 3.66
6,750
291
4.60%
195
3.08%
97 1.53%
0 0.00%
-95
-1.50%
-187
-2.96%
-277
-4.38%
3130AQDY6
1.00 97.93
2.41 96.51
3.40 95.06
4.44 93.63
5.48 92.23
6.52 90.86
7.56 89.52
8.59 FHLB 1 12/30/24
12/30/2024
1.50 1.50
1.50 1.52
1.50 1.50
1.50 1.50
7,000
310
4.74%
208
3.17%
103
1.57%
0 0.00%
-101
-1.54%
-199
-3.04%
-294
-4.50%
3130AQEA7
1.05 97.95
2.42 96.48
3.42 94.99
4.46 93.51
5.50 92.08
6.55 90.67
7.58 89.31
8.62 FHLB 1.05 01/14/25
01/14/2025
1.54 1.54
1.54 1.55
1.54 1.54
1.54 1.54
4,000
301
8.37%
206
5.71%
103
2.86%
0 0.00%
-100
-2.77%
-196
-5.45%
-289
-8.03%
3130AN5C0
1.05 97.57
1.94 95.17
2.84 92.60
3.83 90.03
4.86 87.54
5.89 85.13
6.93 82.81
7.95 FHLB 1.05 04/29/26
04/29/2026
2.83 2.83
2.83 2.81
2.83 2.83
2.83 2.83
5,000
414
9.12%
303
6.66%
157
3.46%
0 0.00%
-157
-3.45%
-308
-6.79%
-454
-9.99%
3130AQRH8
2.00 99.16
2.28 96.92
2.89 94.01
3.77 90.87
4.75 87.73
5.77 84.70
6.80 81.79
7.83 FHLB 2 02/25/27
02/25/2027
3.15 3.65
3.65 3.46
3.65 3.65
3.65 3.65
5,000
293
6.22%
249
5.30%
142
3.02%
0 0.00%
-156
-3.32%
-314
-6.66%
-466
-9.90%
3130ARHJ3
3.18 100.08
1.63 99.21
3.43 97.06
4.01 94.22
4.86 91.09
5.82 87.95
6.83 84.89
7.85 FHLB 3.175 04/19/27
04/19/2027
0.05 3.30
3.80 3.19
3.80 3.80
3.80 3.80
2,000
82 4.41%
55 2.92%
27 1.45%
0 0.00%
-26
-1.41%
-52
-2.79%
-77
-4.14%
3134GWNG7
0.50 97.37
2.41 95.99
3.44 94.61
4.49 93.26
5.54 91.95
6.58 90.66
7.62 89.40
8.65 FHLMC 0 1/2 11/27/24
11/27/2024
1.41 1.41
1.41 1.43
1.41 1.41
1.41 1.41
10,000
625
6.90%
419
4.62%
207
2.29%
0 0.00%
-201
-2.22%
-396
-4.37%
-585
-6.45%
3134GWUG9
0.57 96.89
2.00 94.82
2.98 92.71
4.02 90.63
5.06 88.62
6.10 86.67
7.13 84.79
8.16 FHLMC 0.57 09/24/25
09/24/2025
2.23 2.23
2.23 2.25
2.23 2.23
2.23 2.23
1,150
76 7.29%
51 4.89%
25 2.42%
0 0.00%
-24
-2.35%
-48
-4.62%
-71
-6.82%
3134GXBM5
0.60 96.82
1.98 94.66
2.95 92.43
3.98 90.25
5.02 88.13
6.06 86.08
7.09 84.09
8.12 FHLMC 0.6 11/12/25
11/12/2025
2.37 2.37
2.37 2.39
2.37 2.37
2.37 2.37
5,000
438
9.96%
298
6.77%
148
3.37%
0 0.00%
-143
-3.25%
-281
-6.38%
-412
-9.37%
3134GW4C7
0.80 96.77
1.80 93.96
2.71 90.97
3.71 88.00
4.74 85.14
5.78 82.39
6.81 79.76
7.83 FHLMC 0.8 10/27/26
10/27/2026
3.33 3.33
3.33 3.31
3.33 3.33
3.33 3.33
3,000
204
7.52%
134
4.93%
66 2.42%
0 0.00%
-64
-2.34%
-125
-4.60%
-184
-6.79%
3135G06G3
0.50 97.33
1.66 94.98
2.72 92.71
3.77 90.52
4.81 88.40
5.85 86.35
6.88 84.37
7.91 FNMA 0 1/2 11/07/25
11/07/2025
2.35 2.35
2.35 2.38
2.35 2.35
2.35 2.35
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Shocked CUSIP Analysis
-300
-200
-100
Base
+100
+200
+300
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
WAL
Dur
WAL
WAL
WAL
WAL
3,500
205
6.40%
137
4.29%
68 2.13%
0 0.00%
-66
-2.07%
-130
-4.08%
-192
-6.02%
3136G4ZP1
0.65 97.10
2.08 95.17
3.06 93.20
4.09 91.25
5.13 89.37
6.17 87.53
7.20 85.76
8.23 FNMA 0.65 07/30/25
07/30/2025
2.08 2.08
2.08 2.09
2.08 2.08
2.08 2.08
5,000
69 1.42%
46 0.94%
23 0.47%
0 0.00%
-23
-0.46%
-45
-0.92%
-67
-1.38%
91282CBA8
0.13 99.11
2.09 98.64
3.13 98.18
4.17 97.72
5.21 97.26
6.25 96.82
7.30 96.37
8.34 T 0 1/8 12/15/23
12/15/2023
0.46 0.46
0.46 0.47
0.46 0.46
0.46 0.46
10,000
139
1.42%
92 0.94%
46 0.47%
0 0.00%
-45
-0.46%
-90
-0.92%
-135
-1.38%
91282CBA8
0.13 99.11
2.09 98.64
3.13 98.18
4.17 97.72
5.21 97.26
6.25 96.82
7.30 96.37
8.34 T 0 1/8 12/15/23
12/15/2023
0.46 0.46
0.46 0.47
0.46 0.46
0.46 0.46
10,000
433
4.60%
285
3.03%
141
1.49%
0 0.00%
-137
-1.46%
-271
-2.88%
-402
-4.27%
91282CDN8
1.00 98.44
2.09 96.96
3.15 95.52
4.20 94.11
5.25 92.74
6.29 91.40
7.33 90.09
8.36 T 1 12/15/24
12/15/2024
1.46 1.46
1.46 1.48
1.46 1.46
1.46 1.46
5,000
216
4.60%
142
3.03%
70 1.49%
0 0.00%
-69
-1.46%
-136
-2.88%
-201
-4.27%
91282CDN8
1.00 98.44
2.09 96.96
3.15 95.52
4.20 94.11
5.25 92.74
6.29 91.40
7.33 90.09
8.36 T 1 12/15/24
12/15/2024
1.46 1.46
1.46 1.48
1.46 1.46
1.46 1.46
5,000
216
4.60%
142
3.03%
70 1.49%
0 0.00%
-69
-1.46%
-136
-2.88%
-201
-4.27%
91282CDN8
1.00 98.44
2.09 96.96
3.15 95.52
4.20 94.11
5.25 92.74
6.29 91.40
7.33 90.09
8.36 T 1 12/15/24
12/15/2024
1.46 1.46
1.46 1.48
1.46 1.46
1.46 1.46
3,000
238
8.36%
155
5.47%
76 2.68%
0 0.00%
-74
-2.58%
-144
-5.08%
-213
-7.48%
9128286F2
2.50 102.70
1.46 99.96
2.51 97.32
3.56 94.78
4.60 92.33
5.63 89.97
6.66 87.69
7.69 T 2 1/2 02/28/26
02/28/2026
2.67 2.67
2.67 2.61
2.67 2.67
2.67 2.67
3,200
260
8.65%
170
5.65%
84 2.77%
0 0.00%
-80
-2.67%
-158
-5.24%
-233
-7.72%
9128286L9
2.25 102.23
1.42 99.41
2.47 96.70
3.52 94.09
4.56 91.58
5.59 89.16
6.63 86.83
7.65 T 2 1/4 03/31/26
03/31/2026
2.75 2.75
2.75 2.70
2.75 2.75
2.75 2.75
5,000
127
2.60%
84 1.72%
41 0.85%
0 0.00%
-41
-0.84%
-81
-1.66%
-120
-2.47%
9128286R6
2.25 99.95
2.31 99.10
3.36 98.25
4.41 97.42
5.46 96.61
6.50 95.80
7.54 95.01
8.57 T 2 1/4 04/30/24
04/30/2024
0.83 0.83
0.83 0.84
0.83 0.83
0.83 0.83
4,000
61 1.56%
41 1.03%
20 0.51%
0 0.00%
-20
-0.51%
-40
-1.01%
-59
-1.51%
912828V23
2.25 100.02
2.23 99.50
3.28 98.99
4.33 98.48
5.38 97.98
6.43 97.49
7.48 97.00
8.53 T 2 1/4 12/31/23
12/31/2023
0.50 0.50
0.50 0.51
0.50 0.50
0.50 0.50
5,000
77 1.56%
51 1.03%
25 0.51%
0 0.00%
-25
-0.51%
-50
-1.01%
-74
-1.51%
912828V23
2.25 100.02
2.23 99.50
3.28 98.99
4.33 98.48
5.38 97.98
6.43 97.49
7.48 97.00
8.53 T 2 1/4 12/31/23
12/31/2023
0.50 0.50
0.50 0.51
0.50 0.50
0.50 0.50
3,000
135
4.71%
89 3.10%
44 1.53%
0 0.00%
-43
-1.49%
-85
-2.95%
-125
-4.36%
9128283P3
2.25 100.26
2.08 98.72
3.14 97.21
4.19 95.75
5.24 94.32
6.28 92.93
7.32 91.57
8.35 T 2 1/4 12/31/24
12/31/2024
1.50 1.50
1.50 1.51
1.50 1.50
1.50 1.50
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Shocked CUSIP Analysis
-300
-200
-100
Base
+100
+200
+300
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
WAL
Dur
WAL
WAL
WAL
WAL
5,000
77 1.56%
51 1.03%
25 0.51%
0 0.00%
-25
-0.51%
-50
-1.01%
-75
-1.51%
9128285U0
2.63 100.22
2.19 99.71
3.24 99.19
4.29 98.69
5.34 98.19
6.39 97.69
7.44 97.20
8.49 T 2 5/8 12/31/23
12/31/2023
0.50 0.50
0.50 0.51
0.50 0.50
0.50 0.50
5,000
373
7.84%
244
5.13%
120
2.52%
0 0.00%
-116
-2.43%
-228
-4.78%
-336
-7.05%
9128285T3
2.63 102.70
1.52 100.12
2.58 97.63
3.62 95.23
4.67 92.92
5.70 90.68
6.74 88.52
7.76 T 2 5/8 12/31/25
12/31/2025
2.50 2.50
2.50 2.47
2.50 2.50
2.50 2.50
3,000
224
7.84%
147
5.13%
72 2.52%
0 0.00%
-69
-2.43%
-137
-4.78%
-201
-7.05%
9128285T3
2.63 102.70
1.52 100.12
2.58 97.63
3.62 95.23
4.67 92.92
5.70 90.68
6.74 88.52
7.76 T 2 5/8 12/31/25
12/31/2025
2.50 2.50
2.50 2.47
2.50 2.50
2.50 2.50
Treasury/Agency
178,225
8,941
5.35%
6,087
3.64%
3,076
1.84%
0 0.00%
-3,083
-1.84%
-6,119
-3.66%
-9,082
-5.43%
1.43 98.87
2.06 97.27
3.08 95.58
4.13 93.85
5.16 92.12
6.18 90.42
7.21 88.76
8.25 1.70
1.80 1.84
1.84 1.96
1.97 1.97
1.97 1,000
82 8.18%
54 5.35%
26 2.63%
0 0.00%
-25
-2.53%
-50
-4.97%
-73
-7.33%
194162AQ6
4.80 108.37
1.59 105.53
2.64 102.80
3.69 100.17
4.73 97.63
5.76 95.19
6.80 92.83
7.82 CL 4.8 03/02/26
03/02/2026
2.67 2.67
2.67 2.54
2.67 2.67
2.67 2.67
1,000
78 7.95%
51 5.20%
25 2.55%
0 0.00%
-24
-2.46%
-48
-4.84%
-70
-7.14%
742718FY0
4.10 106.61
1.47 103.90
2.52 101.28
3.57 98.76
4.61 96.33
5.65 93.98
6.68 91.72
7.71 PG 4.1 01/26/26
01/26/2026
2.57 2.57
2.57 2.46
2.57 2.57
2.57 2.57
1,000
76 7.96%
50 5.26%
25 2.61%
0 0.00%
-24
-2.55%
-48
-5.02%
-71
-7.41%
30231GAT9
3.04 103.19
1.69 100.61
2.78 98.07
3.81 95.58
4.83 93.14
5.85 90.78
6.88 88.50
7.90 XOM 3.043 03/01/26
03/01/2026
2.42 2.42
2.67 2.55
2.67 2.67
2.67 2.67
Corporate
3,000
237
8.03%
155
5.27%
76 2.60%
0 0.00%
-74
-2.51%
-146
-4.94%
-215
-7.29%
3.98 106.05
1.58 103.35
2.65 100.72
3.69 98.17
4.72 95.70
5.76 93.32
6.79 91.01
7.81 2.55
2.55 2.64
2.52 2.64
2.64 2.64
2.64 259
1 0.26%
0 0.17%
0 0.09%
0 0.00%
0 -0.09%
0 -0.17%
-1
-0.26%
PLMDLCAMP
0.30 100.26
-2.78
100.17
-1.76
100.09
-0.73
100.00
0.30 99.91
1.34 99.83
2.38 99.74
3.42 CAMP
07/31/2023
0.08 0.08
0.08 0.09
0.08 0.08
0.08 0.08
57,830
150
0.26%
100
0.17%
50 0.09%
0 0.00%
-50
-0.09%
-99
-0.17%
-149
-0.26%
PLMDLLAIF
0.78 100.26
-2.31
100.17
-1.28
100.09
-0.25
100.00
0.78 99.91
1.82 99.83
2.86 99.74
3.91 LAIF
07/31/2023
0.08 0.08
0.08 0.09
0.08 0.08
0.08 0.08
65,877
171
0.26%
114
0.17%
57 0.09%
0 0.00%
-57
-0.09%
-113
-0.17%
-170
-0.26%
PLMDLLAIF
0.78 100.26
-2.31
100.17
-1.28
100.09
-0.25
100.00
0.78 99.91
1.82 99.83
2.86 99.74
3.91 LAIF
07/31/2023
0.08 0.08
0.08 0.09
0.08 0.08
0.08 0.08
26,684
69 0.26%
46 0.17%
23 0.09%
0 0.00%
-23
-0.09%
-46
-0.17%
-69
-0.26%
PLMDLLAIF
0.78 100.26
-2.31
100.17
-1.28
100.09
-0.25
100.00
0.78 99.91
1.82 99.83
2.86 99.74
3.91 LAIF
07/31/2023
0.08 0.08
0.08 0.09
0.08 0.08
0.08 0.08
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Shocked CUSIP Analysis
-300
-200
-100
Base
+100
+200
+300
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
WAL
Dur
WAL
WAL
WAL
WAL
Other
150,650
390
0.26%
260
0.17%
130
0.09%
0 0.00%
-130
-0.09%
-259
-0.17%
-388
-0.26%
0.78 100.26
-2.31
100.17
-1.29
100.09
-0.25
100.00
0.78 99.91
1.82 99.83
2.86 99.74
3.91 0.08
0.08 0.08
0.09 0.08
0.08 0.08
0.08 Total
331,875
9,568
2.98%
6,502
2.03%
3,282
1.02%
0 0.00%
-3,287
-1.02%
-6,524
-2.03%
-9,685
-3.02%
1.16 99.57
0.06 98.64
1.06 97.67
2.09 96.68
3.10 95.69
4.11 94.72
5.13 93.76
6.15 1
0.97 1.03
1.05 1.02
1.11 1.12
1.12 1.12
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Portfolio Changes
New Securities 3/2023-6/2023
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
194162AQ6
Corporate
CL 4.8 03/02/26
03/02/2026
4.80 1,000,000
100.00
AFS
30231GAT9
Corporate
XOM 3.043 03/01/26
03/01/2026
3.04 1,000,000
100.00
AFS
3133EPKC8
Treasury/Agency
FFCB 5.39 05/18/27
05/18/2027
5.39 5,000,000
100.00
AFS
3133EPLE3
Treasury/Agency
FFCB 4.67 05/30/28
05/30/2028
4.67 2,815,000
100.00
AFS
742718FY0
Corporate
PG 4.1 01/26/26
01/26/2026
4.10 1,000,000
100.00
AFS
Partial Buy3/2023-6/2023
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
Redemption Type
PLMDLCAMP
Other
CAMP
07/31/2023
0.30 259,310
100.00
AFS
Same CUSIP buys
PLMDLLAIF
Other
LAIF
07/31/2023
0.78 150,390,433
100.00
AFS
Same CUSIP buys
Securities Sold/Redeemed 3/2023-6/2023
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
Redemption Type
3133EKPT7
Treasury/Agency
FFCB 2 1/8 06/05/23
06/05/2023
2.13 5,000,000
100.00
AFS
Expired/Matured
9128284S6
Treasury/Agency
T 2 3/4 05/31/23
05/31/2023
2.75 2,815,000
100.00
AFS
Expired/Matured
30231GBL5
Corporate
XOM 1.571 04/15/23
04/15/2023
1.57 5,000,000
100.00
AFS
Expired/Matured
166764BV1
Corporate
CVX 1.141 05/11/23
05/11/2023
1.14 2,075,000
100.00
AFS
Expired/Matured
20033AYE0
CD
ADS 3.1 05/15/23
05/15/2023
3.10 245,000
100.00
AFS
Sold/Redeemed
17312QL23
CD
C 3.15 05/11/23
05/11/2023
3.15 245,000
100.00
AFS
Sold/Redeemed
61747MX30
CD
MS 3.15 05/10/23
05/10/2023
3.15 245,000
100.00
AFS
Sold/Redeemed
87164WWF1
CD
SYF 3.15 05/11/23
05/11/2023
3.15 245,000
100.00
AFS
Sold/Redeemed
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Shocked Assumptions
Scenarios
Down 300
Down 200
Down 100
Base
Up 100
Up 200
Up 300
Shift Amount
-300
-200
-100
0 100
200
300
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
2023-06-30
2023-06-30
2023-06-30
2023-06-30
2023-06-30
2023-06-30
2023-06-30
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Report Assumptions
Assumptions
·
Calculation Engine
The Yield Book © and ZM Financial
·
Cash Flow Model
The Yield Book ©
·
Curve Date
Same as Portfolio As Of Date
·
Curve Type Used
Swap Curve
·
Curve Shape
Immediate Sustained Parallel Shocks
·
Price Shock Methodology
Constant OAS for fixed rate securities; immediate market shift for floating rate securities ·
Horizon Period
Immediate Time Horizon
·
Reinvestment Rate
3 Month T-Bill
·
Cost of Funds
1.00%
·
Tax Rate
21.0%
Additional Information
Rolloff Yield
- Rolloff Yield is the weighted average yield of the cashflows (maturities, calls and paydowns) that roll off during the noted time period. Ending Yield at Book 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 - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 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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Moreover, Stifel and its affiliates and their respective shareholders, directors, officers, and/or employees, may from time to time have long or short positions in such securities or in options or other derivative instruments based thereon.
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Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE, One South Street, Baltimore, MD 21202
. All rights reserved.
Disclaimer
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
Portfolio Exceptions
Hld
Exception
Sub
Indic
Par
Book
Market
ID
Description
CUSIP
Sector
Sector
Table
Security Description
Value
Price
Price
1 7357742
Called
3130A5DH9
AGY
FHLB 2.000 05/18/20 CALd
1,950
100.000
100.000
Portfolio Exceptions Summary
Total Par
Total Par
Total Par
% Par
Holding Count
Holding Count
Holding Count
% Count
From Customer
Excluded
In Analysis
Excluded
From Customer
Excluded
In Analysis
Excluded
333,825
1,950
331,875
0.58 %
47 1
46 2.13 %
City of Palmdale - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6748 - 58411
PORTFOLIO REVIEW AND ANALYSIS
City of Palmdale - Successor Agency
Palmdale, CA
As of Date: 06/30/2023
Pricing as of: 06/30/2023
Date of Analysis: 07/12/2023
Account Executive: Bill Blackwill
Book Value
12,989
# Securities
1 Average Size (Book)
12,989
Yield at Book
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 6/30/2023
Portfolio ID: 6753 - 58411
Historical Portfolio Overview
06/30/2023
03/31/2023
12/31/2022
09/30/2022
Book Value
12,989
4,459
4,433
5,408
Yield at Book
0.78 0.78
0.78 0.79
Yield at Book (+100)
0.78 0.78
0.78 0.79
Yield at Book (+300)
0.78 0.78
0.78 0.79
Yield at Book (-100)
0.78 0.78
0.78 0.79
WAL
0.08 0.08
0.01 0.08
WAL (+100)
0.08 0.08
0.01 0.08
WAL (+300)
0.08 0.08
0.01 0.08
WAL (-100)
0.08 0.08
0.01 0.08
% Price Change (+100)
-0.1%
-0.1%
0.0%
-0.1%
% Price Change (+300)
-0.3%
-0.2%
0.0%
-0.3%
% Price Change (-100)
0.1%
0.1%
0.0%
0.1%
Effective Duration
0.09 0.08
0.01 0.09
Effective Convexity
0.00 0.00
0.00 0.00
$ Gain/Loss
0 0
0 0
% Gain/Loss
0.0%
0.0%
0.0%
0.0%
Principal Cash Flow 2 yrs out
100%
100%
100%
100%
Principal Cash Flow 2 yrs out (+100)
100%
100%
100%
100%
Principal Cash Flow 2 yrs out (+300)
100%
100%
100%
100%
Principal Cash Flow 2 yrs out (-100)
100%
100%
100%
100%
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Portfolio Sector Summary
Portfolio
Par
Book
Yield
Market
% Price Change
Gain/(Loss)
Effective
AFS
Sector
%
Value
Cpn
Maturity
Value
@Bk
Value
Yield
-100
+100
+300
$
%
WAL
Dur
Cvx
%
Cash & Other (1)
100.0%
12,989
0.78 0.1 yrs
12,989
0.78 12,989
0.78 0.1
-0.1
-0.3
0 0.0%
0.08 0.09
0.00 100 %
Other (1)
100.0%
12,989
0.78 0.1 yrs
12,989
0.78 12,989
0.78 0.1
-0.1
-0.3
0 0.0%
0.08 0.09
0.00 100 %
Total (1)
100.0%
12,989
0.78 0.1 yrs
12,989
0.78 12,989
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 6/30/2023
Portfolio ID: 6753 - 58411
Shocked Analysis
-300
-200
-100
Base
+100
+200
+300
Par Value
12,989
12,989
12,989
12,989
12,989
12,989
12,989
Book Value
12,989
12,989
12,989
12,989
12,989
12,989
12,989
Market Value
13,022
13,011
13,000
12,989
12,978
12,966
12,955
Gain/(Loss)
34 22
11 0
-11
-22
-33
Gain/(Loss) %
0.3%
0.2%
0.1%
0.0%
-0.1%
-0.2%
-0.3%
Gain/(Loss) % - Chg from Base
0.3%
0.2%
0.1%
0.0%
-0.1%
-0.2%
-0.3%
Book Price
100.00
100.00
100.00
100.00
100.00
100.00
100.00
Yield at Book
0.78 0.78
0.78 0.78
0.78 0.78
0.78 Market Price
100.26
100.17
100.09
100.00
99.91 99.83
99.74 Market Yield
-2.31
-1.28
-0.25
0.78 1.82
2.86 3.91
WAL
0.08 0.08
0.08 0.08
0.08 0.08
0.08 City of Palmdale - Successor Agency - Palmdale, CA As of 6/30/2023
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%
12,989
-0.1%
-0.2%
-0.3%
0.1%
Total
0.1%
12,989
-0.1%
-0.2%
-0.3%
0.1%
Scenario Market Val
13,000
12,989
12,978
12,966
12,955
Scenario Gain/Loss
11 0
-11
-22
-33
Total Portfolio (AFS + HTM):
% Change in Market Val from Level
-200 bps
0.2%
-100 bps
0.1%
Level Market Val
12,989
+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 6/30/2023
Portfolio ID: 6753 - 58411
Peer Group Comparison
As of
Book
G/L
Yield
Average Life
% Price Change
Effective
UST
Fix
Fix
Flt
Agy
Sm
Prv
CD &
%
%
Peer
Date
Value
%
@Bk
Base
-100
+300
-100
+100
+300
Dur
Cvx
Agy
MBS
ARM
CMO
CMO
CMBS
Bus.
Label
Muni
Corp
Oth
Fixed
AFS
1 03/23
12,143
-5.5
2.07 2.3
2.3 2.3
2.1 -2.1
-6.0
2.1 0.1
0%
0%
0%
0%
0%
0%
0%
0%
25%
41%
34%
100%
100%
2 05/23
14,142
-5.0
3.14 2.9
2.6 2.9
2.4 -2.4
-7.1
2.4 0.0
0%
0%
0%
0%
0%
0%
0%
0%
2%
0%
98%
100%
100%
3 05/23
10,585
-7.1
1.05 2.3
2.1 2.3
2.0 -2.0
-6.0
2.0 0.0
47%
0%
0%
0%
0%
0%
0%
0%
18%
19%
16%
100%
100%
4 05/23
10,164
-3.8
3.70 2.7
2.7 2.7
2.5 -2.5
-7.1
2.5 0.1
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
100%
5 03/23
9,806
-7.0
2.64 3.9
3.8 3.9
3.2 -3.1
-8.8
3.1 0.1
0%
21%
0%
29%
0%
0%
0%
0%
0%
0%
50%
100%
100%
6 04/23
9,216
-10.2
3.66 7.9
7.0 7.9
4.9 -4.8
-13.9
4.8 0.1
0%
0%
0%
0%
0%
0%
0%
0%
81%
3%
16%
100%
100%
7 04/23
16,908
-5.3
1.90 2.1
2.1 2.1
1.8 -1.8
-5.5
1.8 0.0
49%
0%
0%
0%
0%
3%
0%
0%
17%
6%
25%
100%
100%
8 05/23
8,759
-9.4
1.68 3.4
3.4 3.4
3.1 -3.1
-8.9
3.1 0.0
34%
0%
0%
0%
0%
0%
0%
0%
0%
0%
66%
97%
100%
9 03/23
8,216
-6.3
2.43 3.5
3.5 3.5
3.1 -3.1
-9.0
3.1 0.0
50%
0%
0%
0%
0%
0%
0%
0%
0%
0%
50%
100%
100%
10 06/23
8,000
-9.6
1.25 2.9
2.9 2.9
2.8 -2.7
-7.8
2.7 0.1
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
11 03/23
6,271
-1.9
2.96 1.4
1.2 1.6
1.2 -1.2
-3.8
1.2 -0.1
23%
0%
0%
0%
0%
0%
0%
0%
0%
0%
77%
100%
100%
12 05/23
5,999
-1.0
3.26 0.6
0.5 0.6
0.5 -0.5
-1.7
0.5 -0.1
92%
0%
0%
0%
0%
0%
0%
0%
0%
0%
8%
100%
100%
13 06/23
4,542
-9.3
0.82 2.5
2.5 2.5
2.4 -2.4
-6.9
2.4 0.1
94%
0%
0%
0%
0%
0%
0%
0%
0%
0%
6%
100%
100%
14 05/23
23,453
-5.2
2.20 2.1
2.0 2.2
1.8 -1.8
-5.6
1.8 -0.1
73%
0%
0%
0%
0%
0%
0%
0%
0%
0%
27%
100%
100%
15 03/23
2,000
-0.4
4.65 1.6
1.5 1.6
1.4 -1.5
-4.3
1.4 0.0
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
100%
16 05/23
27,153
-3.5
2.72 2.3
2.3 2.3
2.0 -2.0
-5.8
2.0 0.0
63%
0%
0%
0%
0%
0%
0%
2%
0%
13%
23%
100%
100%
17 05/23
29,002
-7.4
1.72 2.8
2.7 2.8
2.5 -2.4
-7.2
2.4 0.0
62%
0%
0%
0%
0%
3%
0%
0%
0%
1%
34%
100%
100%
18 06/23
32,547
-5.8
2.60 2.5
2.3 2.5
2.0 -2.1
-6.2
2.0 -0.1
23%
0%
0%
0%
0%
0%
0%
0%
0%
0%
77%
100%
100%
19 06/23
36,570
-9.1
1.14 2.8
2.8 2.8
2.6 -2.6
-7.5
2.6 0.0
98%
0%
0%
0%
0%
0%
0%
0%
0%
0%
2%
100%
100%
20 06/23
42,391
-2.6
2.56 1.1
1.0 1.1
1.0 -1.0
-2.9
1.0 0.0
25%
0%
0%
0%
0%
0%
0%
0%
29%
0%
46%
100%
100%
21 03/23
42,756
-1.8
3.88 2.5
1.6 2.9
1.6 -1.7
-5.7
1.7 -0.1
66%
0%
0%
0%
0%
0%
0%
0%
0%
0%
34%
100%
100%
22 03/23
48,224
1.3 2.21
2.3 2.0
2.3 1.9
-1.9
-5.8
1.9 0.0
52%
0%
0%
0%
0%
0%
0%
0%
47%
0%
1%
99%
100%
23 06/23
52,037
-1.5
2.76 0.7
0.5 0.7
0.6 -0.6
-1.8
0.6 0.0
62%
0%
0%
0%
0%
0%
0%
0%
18%
0%
20%
100%
100%
24 06/23
53,019
-5.9
2.73 2.9
2.7 2.9
2.3 -2.4
-7.3
2.4 -0.1
99%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
100%
100%
25 03/23
66,758
-2.2
2.74 1.2
1.1 1.3
0.9 -1.0
-3.0
1.0 0.0
14%
0%
0%
0%
0%
1%
0%
0%
0%
6%
78%
100%
100%
Avg
23,226
-5.0
2.50 2.5
2.4 2.6
2.1 -2.1
-6.2
2.1 0.0
45%
1%
0%
1%
0%
0%
0%
0%
9%
4%
40%
100%
100%
Port
12,989
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
-10,238
5.0 -1.72
-2.4
-2.3
-2.5
-2.0
2.0 6.0
-2.0
0.0 -45%
-1%
0%
-1%
0%
0%
0%
0%
-9%
-4%
60%
0%
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 - Palmdale, CA
As of 6/30/2023
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 6/30/2023
Portfolio ID: 6753 - 58411
Cash Flow and Rolloff Yield - Next 12 Months
Yield Rolloff
Month
Begin BY
Principal CF
Rolloff Yld
Ending BY
Jul 2023
0.78 12,989
0.78 Shocked Principal and Interest Cash Flow Analysis
Year
-300
-200
-100
Base
+100
+200
+300
Jul 2023
12,997
12,997
12,997
12,997
12,997
12,997
12,997
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Cash Flow and Rolloff Yield - Next 10 Years
Yield Rolloff
Year
Begin BY
Principal CF
Rolloff Yld
Ending BY
2023
0.78 12,989
0.78 2024
2025
2026
2027
2028
2029
2030
2031
2032
Shocked Principal and Interest Cash Flow Analysis
Year
-300
-200
-100
Base
+100
+200
+300
2023
12,997
12,997
12,997
12,997
12,997
12,997
12,997
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Sector Cash Flow - Next 12 Months
Jul 23
Aug 23
Sep 23
Oct 23
Nov 23
Dec 23
Jan 24
Feb 24
Mar 24
Apr 24
May 24
Jun 24
Bk Yld Chg
Other
Cash Flow
12,997
End BY
Total
Cash Flow
12,997
End BY
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Sector Cash Flow - Next 3 Years
3Q23
4Q23
1Q24
2Q24
3Q24
4Q24
1Q25
2Q25
3Q25
4Q25
1Q26
2Q26
Bk Yld Chg
Other
Cash Flow
12,997
End BY
Total
Cash Flow
12,997
End BY
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Gap Analysis - Potential Income Impact of Principal Reinvestment Assumed
Estimated
Income
Resulting
Reinvestment
Annualized
Difference from
Yield
Yield
Income
Current Book
at Book
0.25 32
-69
0.25 0.50
65 -37
0.50 0.75
97 -4
0.75 1.00
130
28 1.00
1.25 162
61 1.25
1.50 195
93 1.50
1.75 227
126
1.75 2.00
260
158
2.00 2.25
292
191
2.25 2.50
325
223
2.50 2.75
357
256
2.75 3.00
390
288
3.00 3.25
422
321
3.25 3.50
455
353
3.50 3.75
487
386
3.75 4.00
520
418
4.00 4.25
552
451
4.25 4.50
584
483
4.50 4.75
617
515
4.75 5.00
649
548
5.00 5.25
682
580
5.25 5.50
714
613
5.50 5.75
747
645
5.75 6.00
779
678
6.00 6.25
812
710
6.25 6.50
844
743
6.50 6.75
877
775
6.75 7.00
909
808
7.00 7.25
942
840
7.25 7.50
974
873
7.50 7.75
1,007
905
7.75 8.00
1,039
938
8.00 Principal Maturing(12 Mo.Horizon): $12,989
Current Yield at Book of Principal Maturing: 0.78%
Est. Annual Income at Current Yield at Book: $101
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Shocked Cash Flows By Sector - Next 10 Years
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Cash Flows By Sector - Next 30 Years
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Cash Flow Projection By Month - Next 5 Years
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Other - Summary
G/L $
G/L %
WAL
Px Chg
Dur
Cvx
Sector
Par
Maturity
Bk Price
Yield
Mkt Price
Mkt
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Next Call
Bk Value
@Bk
Mkt 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%
12,989
0.78 12,989
0.78 12,989
0.78 -33
-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%
12,989
0.78 12,989
0.78 12,989
0.78 -33
-0.3%
0.08 -0.3
100.0%
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Portfolio Considerations
Par
Book
Market
Gain/
Yield
Eff.
Historical CPR
Proj. CPR
Loan
Sector
Cnt
Cpn
Maturity
Value
Price
Price
(Loss)
@ Book
WAL
Dur
1 Mo.
3 Mo.
Life
Life
Count
Yield at Book < 2%
1 0.78
0.1 yrs
12,989
100.00
100.00
0 0.78
0.1 0.09
Cash & Other
1 0.78
0.1 yrs
12,989
100.00
100.00
0 0.78
0.1 0.09
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Key Portfolio Sorts
Top 10 Up 300 Market Value Changes (%)
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 07/31/23
12,989
100.00
100.00
0 0.781
0.08 -0.26
-33
-33
0.09 AFS
0.78 12,989
100.00
100.00
0 0.781
0.08 -0.26
-33
-33
0.09 Top 10 Up 300 Market Value Changes ($)
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 07/31/23
12,989
100.00
100.00
0 0.781
0.08 -0.26
-33
-33
0.09 AFS
0.78 12,989
100.00
100.00
0 0.781
0.08 -0.26
-33
-33
0.09 City of Palmdale - Successor Agency - Palmdale, CA As of 6/30/2023
Portfolio ID: 6753 - 58411
Key Portfolio Sorts
Top 10 Marked to Market Up 300 Loss Positions
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 07/31/23
12,989
100.00
100.00
0 0.781
0.08 -0.26
-33
-33
0.09 AFS
0.78 12,989
100.00
100.00
0 0.781
0.08 -0.26
-33
-33
0.09 Top 10 Average Life Extension Up 300bps
Par
Book
Market
Yield
% Px
Δ
Eff.
WAL
Chg in
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
+300
Dur
WAL
+300
WAL
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 07/31/23
12,989
100.00
100.00
0 0.781
-0.26
0.09 0.08
0.08 0.00
AFS
0.78 12,989
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 6/30/2023
Portfolio ID: 6753 - 58411
Other - CUSIP Detail
Coupon
Step
Gain/(Loss)
% Px
Δ
Effective
Par
Type
Date
Proj.Mat.
Bk Price
Yield
Mkt Price
%
-100
Dur
ESG/G
r
CUSIP
Ticker
Value
Rate
Rate
Final Mat.
Bk Value
@ Bk
Mkt Value
Mkt Yield
$
+300
Cvx
Intent
Fixed
07/23
100.00
100.00
0.0%
0.1 0.09
PLMDLLAIF
12,989
0.780
07/31/23
12,989
0.78 12,989
0.78 0
-0.3
0.00 AFS
100.00
100.00
0.0%
0.1 0.09
Cash & Other
12,989
0.780
12,989
0.78 12,989
0.78 0
-0.3
0.00 100.00
100.00
0.0%
0.1 0.09
Total
12,989
0.780
12,989
0.78 12,989
0.78 0
-0.3
0.00 City of Palmdale - Successor Agency - Palmdale, CA As of 6/30/2023
Portfolio ID: 6753 - 58411
Shocked CUSIP Analysis
-300
-200
-100
Base
+100
+200
+300
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
WAL
Dur
WAL
WAL
WAL
WAL
12,989
34 0.26%
22 0.17%
11 0.09%
0 0.00%
-11
-0.09%
-22
-0.17%
-33
-0.26%
PLMDLLAIF
0.78 100.26
-2.31
100.17
-1.28
100.09
-0.25
100.00
0.78 99.91
1.82 99.83
2.86 99.74
3.91 LAIF
07/31/2023
0.08 0.08
0.08 0.09
0.08 0.08
0.08 0.08
Other
12,989
34 0.26%
22 0.17%
11 0.09%
0 0.00%
-11
-0.09%
-22
-0.17%
-33
-0.26%
0.78 100.26
-2.31
100.17
-1.28
100.09
-0.25
100.00
0.78 99.91
1.82 99.83
2.86 99.74
3.91 0.08
0.08 0.08
0.09 0.08
0.08 0.08
0.08 Total
12,989
34 0.26%
22 0.17%
11 0.09%
0 0.00%
-11
-0.09%
-22
-0.17%
-33
-0.26%
0.78 100.26
-2.31
100.17
-1.28
100.09
-0.25
100.00
0.78 99.91
1.82 99.83
2.86 99.74
3.91 0
0.08 0.08
0.08 0.09
0.08 0.08
0.08 0.08
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Portfolio Changes
Partial Buy3/2023-6/2023
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
Redemption Type
PLMDLLAIF
Other
LAIF
07/31/2023
0.78 12,988,812
100.00
AFS
Same CUSIP buys
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Shocked Assumptions
Scenarios
Down 300
Down 200
Down 100
Base
Up 100
Up 200
Up 300
Shift Amount
-300
-200
-100
0 100
200
300
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
2023-06-30
2023-06-30
2023-06-30
2023-06-30
2023-06-30
2023-06-30
2023-06-30
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
Report Assumptions
Assumptions
·
Calculation Engine
The Yield Book © and ZM Financial
·
Cash Flow Model
The Yield Book ©
·
Curve Date
Same as Portfolio As Of Date
·
Curve Type Used
Swap Curve
·
Curve Shape
Immediate Sustained Parallel Shocks
·
Price Shock Methodology
Constant OAS for fixed rate securities; immediate market shift for floating rate securities ·
Horizon Period
Immediate Time Horizon
·
Reinvestment Rate
3 Month T-Bill
·
Cost of Funds
1.00%
·
Tax Rate
21.0%
Additional Information
Rolloff Yield
- Rolloff Yield is the weighted average yield of the cashflows (maturities, calls and paydowns) that roll off during the noted time period. Ending Yield at Book 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 6/30/2023
Portfolio ID: 6753 - 58411
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Disclaimer
City of Palmdale - Successor Agency - Palmdale, CA
As of 6/30/2023
Portfolio ID: 6753 - 58411
City Council Staff Report
DATE: AUGUST 2, 2023
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: PUBLIC WORKS DEPARTMENT
MAINTENANCE DIVISION
DISTRICT: ALL
SUJECT: APPROVE FIRST AMENDMENT FOR AGREEMENT WITH TAFT
ELECTRIC COMPANY TO INCREASE CONTRACT PRICE BY
$180,000 FOR AN AMOUNT NOT TO EXCEED $270,000 FOR A
TERM THROUGH JUNE 2025.
ISSUE
Approve First Amendment for Agreement with Taft Electric Company to increase contract price by $180,000 for an amount not to exceed $270,000 for a term through June 2025.
RECOMMENDATION
Staff recommends that the City Council:
1. Approve First Amendment for Agreement No. A-7526 with Taft Electric Company to increase contract price by $180,000 for an amount not to exceed $270,000.
2. Authorize the City Manage r, or their designee, to execute the First Amendment to Agreement No. A-7526 with Taft Electric Company i ncluding non-substantive changes.
BACKGROUND
The City released Invitation for Bid No. 20-001-3400 for As Needed Electrical Services and/or Repairs in 2021 and awarded contracts to Taft Electric Company and M. Brey Electric, Inc., in the total amount of $90,000 each through June 2025.
During the contracttimeline, staff worked with both contractors and Taft Electric Company has provided the most responsive and best quality of work for electrical service needs required by the City’s Maintenance Division. Due to this, Taft Electric’s original contract amount is being exhausted. Therefore, additional funds are required to continue contracting the work under Taft Electric Company.
Report to Mayor and City Council
Re: Approve First Amendment to Agreement No. A-7526 with Taft Electric Company August 2, 2023
DISCUSSION
This amendment to increase the contract price, for Taft Electric Company, reflects the needs for electrical services required by the Maintenance Division. Due to limited in house resources, more electrical work is being contracted out, with estimates of approximately $90,000 per year through June 2025. Some examples of contracted electrical services include:
Facility Maintenance
Replacement of hazardous lighting poles in City parks and parking lots identified in annual pole inspections.
As needed lighting repairs throughout City parks and buildings for the safety of staff and the public.
Emergency lighting pole repairs due to storm and wind damage.
Landscape Maintenance (General Benefit and Assessment Districts) Replacement of corroded electric meter pedestals.
Replacement of traffic collision damaged electric meter pedestals. Replacement of traffic collision damaged irrigation controller/enclosures. Irrigation controller/enclosure replacements and electrical system upgrades. Upgrades to the Landscape and Park Maintenance team office space with additional PC network ports and conduit runs to server room.
Park Maintenance and Transit Services
Maintenance shop and irrigation electrical circuit improvements at City parks. Booster and storm water pump electrical system maintenance. Central irrigation control network electrical upgrades. Conduit runs for ethernet in City parks.
FISCAL IMPACT
Sufficient funds for as needed electrical repairs and services are budgeted in Facility Maintenance (10133005); Park Maintenance (10133002); Landscape Maintenance – General Benefit (10133003); Landscape Maintenance – Assessment Districts (25133003); and Transit Services (20333005) Contract Services accounts.
Report to Mayor and City Council
Re: Approve First Amendment to Agreement No. A-7526 with Taft Electric Company August 2, 2023
STRATEGIC PLAN
Goal III: Invest in infrastructure to improve community livability.
B. Seek innovative, cost effective, customer focused methods of service delivery.
C. Plan and maintain safe and attractive neighborhoods, streets, facilities, and public space with exciting programming that promotes active fun for everyone.
Prepared by: Lynn Glidden, P.E., Director of Public Works Certified as to availability of Funds: Janelle Samson, Director of Finance Approved by: Ronda Perez, City Manager
Approved as to form: William P. Curley III, Interim City Attorney
ATTACHMENTS
1. Taft Electric Company (A-7526) Amendment 1
FIRST AMENDMENT TO AGREEMENT A-7526
BETWEEN THE CITY OF PALMDALE AND TAFT ELECTRIC COMPANY
This First Amendment to Agreement No. A-7526 (“Agreement”) is made and entered into by and between the City of Palmdale (hereinafter called “CITY”) and TAFT ELECTRIC COMPANY (hereinafter called "CONTRACTOR"). This Contract shall become effective on the date of the last signatory.
WHEREAS, on September 1, 2021 ("Original Agreement") the CITY and CONTRACTOR entered into an agreement to provide:
As needed electrical repairs and services, including electrical installations, at City Facilities, Parks, Landscape Maintenance Districts (LMDs), General Benefit landscape areas, Palmdale Transportation Center, and Park-n-Rides.
These services may include, but are not limited to:
• repair and/or install electrical power distribution systems • general electrical repairs
• install lighting ballast(s)
• install parking lot light pole(s)
• supply required electrical service to various pieces of equipment • detection for underground shorts
• install and/or replace conduit(s) as needed
• install light fixtures
• install additional outlets and/or switches as directed • install fused disconnects
• provide and/or install temporary power
• provide submittals, drawings, and/or plans for proper approvals and/or permits • install landscape electrical meter pedestal(s)
• install landscape controller(s) and irrigation pump(s) • excavation as required
WHEREAS, the parties desire to amend the Original Agreement to:
Increase the total price of the Agreement to provide continued as needed electrical services through the remainder of the Agreement term.
NOW THEREFORE, the parties agree as follows:
1. The compensation identified in Section 5 is amended to increase the total price of the Agreement by One Hundred Eighty Thousand dollars ($180,000.00), not to exceed the amount of Two Hundred Seventy Thousand dollars ($270,000.00).
All other terms and conditions of the Original Agreement not amended herein, remain in full force and effect.
1-2Concord - Document ID: ZjEzZmMxOTktZG
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:
TAFT ELECTRIC COMPANY:
Ronda Perez
City Manager
Tony Valentino
President/COO
ADDRESS FOR NOTICE:
CITY OF PALMDALE
39110 3rd Street East, Suite C
Palmdale, CA 93550
ADDRESS FOR NOTICE:
TAFT ELECTRIC COMPANY
1694 Eastman Avenue
Ventura, CA 93003
APPROVE AS TO FORM:
William P. Curley, III
Interim City Attorney
ATTEST:
Roxanne Faber
Acting City Clerk
---------------------------------------- INTERNAL USE ONLY ----------------------------------------
■Certificate(s) and Endorsement(s) attached
■Confirmed business name on contract with certificate(s) ■Original contract and previous amendment(s) (if any) are attached ■Attached Agreement Checklist and met all requirements
2-2Concord - Document ID: ZjEzZmMxOTktZG
Record of Signing
Signed with www.concordnow.com
For
Name
Title
Signed on 2023-07-10 22:28:34 GMT
Secured by Concord™
DocumentID: ZjEzZmMxOTktZG
SigningID: MDM5MjE3ZGEtOT
Signing date: 7/10/2023
IP Address: 206.171.111.149
Email: [email protected]
For
Name
Title
Signed on 2023-07-14 18:46:53 GMT
Secured by Concord™
DocumentID: ZjEzZmMxOTktZG
SigningID: YTYzMDIzMjctYW
Signing date: 7/14/2023
IP Address: 162.228.135.73
Email: [email protected]
For
Name
Title
Signed on 2023-07-17 18:38:09 GMT
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DocumentID: ZjEzZmMxOTktZG
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Signing date: 7/17/2023
IP Address: 107.131.11.226
Email: [email protected]
CITY OF PALMDALE
OFFICE OF THE CITY COUNCIL
M E M O R A N D U M
TO: City Clerk
FROM: Laura Bettencourt, Mayor
SUBJECT: Monthly Informational Report – Events and Meetings DATE: August 2, 2023
During the period July 1 through July 31, 2023, I attended the following meetings and events:
July 5: PRWA/Pure Water AV project meeting
July 12: Regular Council Meeting
July 14: JVS Veterans Peer Access Network Ribbon-cutting July 19: Regular Council Meeting
July 24: Meeting Palmdale Freedom Coalition
July 25: National Night Out
July 27: Battlefield Cross Veterans Memorial Sculpture Ceremony July 28: LA Care Back-To-School Backpack Giveaway
July 29: Advancing Communities Together-Youth Build AV Summer Fest July 31: Joint Council Meeting-Palmdale & Lancaster
CITY OF PALMDALE
OFFICE OF THE CITY COUNCIL
M E M O R A N D U M
TO: City Clerk
FROM: Austin Bishop, Councilmember
SUBJECT: Monthly Informational Report – Events and Meetings
DATE: Aug 2, 2023
During the period July 1, through July 31, 2023, I attended the following meetings and events:
July 1: City of Palmdale Fireworks Celebration-Palmdale Amphitheater
July 4: Coffee 4 Vets
July 8: Summer Concert at Palmdale Amphitheater-Brian McKnight
July 12: Regular Council Meeting
July 17: North Los Angeles County Transportation Coalition
July 18: AVAQMD Board Meeting
July 19: Regular Council Meeting
July 20: Meeting with Brent Ives of BHI Consulting
July 28: LA Care Back-To-School Backpack Giveaway
July 31: Poki Tomik Grand Opening and Ribbon-Cutting
July 31: Joint Council Meeting-Palmdale/Lancaster
CITY OF PALMDALE
OFFICE OF THE CITY COUNCIL
M E M O R A N D U M
TO: City Clerk
FROM: Richard Loa, Councilmember
SUBJECT: Monthly Informational Report – Events and Meetings DATE: Aug 2, 2023
During the period July 1, through July 31, 2023, I attended the following meetings and events:
July 1: City of Palmdale Fireworks Celebration-Palmdale Amphitheater July 5: Spanish Talk Radio
July 6: Southern California Association of Governments Transportation Committee Meeting
July 12: Regular Council Meeting
July 13: High Desert Corridor JPA Board of Directors Meeting July 17: Meeting with Ritter Ranch/Preston Hollow
July 17: North Los Angeles County Transportation Coalition Board Meeting July 18: AVTA City of Palmdale Briefing
July 19: Regular Council Meeting
July 24: Meeting with Kaiser Executive Team re: Mental Health Initiatives July 25: AVTA Board Meeting
July 25: Amigos De La Feria Board Meeting
July 31: Joint Council Meeting-Palmdale/Lancaster
CITY OF PALMDALE
OFFICE OF THE CITY COUNCIL
M E M O R A N D U M
TO: City Clerk
FROM: Eric Ohlsen, Councilmember
SUBJECT: Monthly Informational Report – Events and Meetings DATE: August 2, 2023
During the period July 1 through July 31, 2023, I attended the following meetings and events:
July 1: Fireworks Celebration at Palmdale Amphitheater
July 8: Summer Concert Brian McKnight at Palmdale Amphitheater July 12: Regular Council Meeting
July 13: High Desert Corridor JPA Board Meeting
July 14: JVS Veterans Peer Access Network Ribbon-cutting July 17: Ritter Ranch/Preston Hollow Meeting
July 19: Regular Council Meeting
July 20: Tour of AV Mall
July 25: AVTA Board Meeting
July 25: National Night Out
July 27: Battlefield Cross Veterans Memorial Sculpture Ceremony July 28: LA Care Back-To-School Backpack Giveaway
July 31: Joint Council Meeting-Palmdale and Lancaster