Agenda packet — Poway City Council, March 4, 2025

AG EN DA Poway City Council
Council Chamber I 13325 Civic Center Drive I Poway , CA I 92064 March 4, 2025 I 7 p.m.

Thank you for participating in your local government and the City of Poway Council meetings.

Meetings I Regular City Council meetings are held on the first and third Tuesday of the month at 7:00 p.m. in the Council Chambers located at 13325 Civic Center Drive, Poway, CA 92064. The Council Chamber will be open to the public.

Public Meeting Access I Members of the public may attend the City Council meeting in person, or watch the City Council meeting live online. Regular City Council meetings are broadcast live on Cox Communication Channel 24 and Spectrum Channel 19. Council meeting videos are archived and available for viewing on the City's website.

Speakers I Persons wishing to address the Council on matters not on the agenda may do so under Public Comment. Those wishing to speak on items on the agenda may do so when the item is being considered. Please submit a Speaker's Slip to the City Clerk prior to the meeting or the announcement of the item. All comments will be limited to three (3) minutes. Per the Poway Municipal Code, the speaking time may be reduced.

To Watch Live:
www.poway.org/councilmeetings
Agenda Materials I This agenda contains a brief summary of each item the Council will consider.

The Agenda and Agenda Packet is posted seven (7) days prior to regular City Council meetings and are available for viewing on the City's website at www.poway.org. Sign up at https://poway.org/list.aspx to receive email notifications when City Council agendas are published online. Items listed on the agenda with a"#" symbol are in preparation.

PLEASE NOTE: Written comments received via email before 3:00 p.m. the day prior to the meeting will be distributed as formal additional material as well as be made available online prior to the City Council meeting. Written comments received after this deadline will be forwarded to the Council, but not available online until after the City Council meeting.

American Disabilities Act Title II I In compliance with the Americans with Disabilities Act of 1990, persons with a disability may request an agenda in appropriate alternative formats as required by Title II. Any person with a disability who requires a modification or accommodation in order to participate in a meeting should direct such request to the City Clerk's office 858-668-4530 at least 24 hours prior to the meeting.

Steve Vaus
Mayor
Peter De Hoff
Deputy Mayor
Tony Blain
Councilmember
Jenny Maeda
Councilmember
Christopher J. Pikus
Council member
Reminder I As a courtesy to all attendees, please silence all electronic devices and engage in conversations outside the Council Chambers.

The City Council also sits as the City of Poway Planning Commission, Poway Housing Authority, Public Financing Authority and Successor Agency to the Poway Redevelopment Agency CALL TO ORDER:

ROLL CALL:

PLEDGE OF ALLEGIANCE:

MOMENT OF SILENCE:

PRESENTATION: None
PUBLIC COMMENT: In accordance with State law, an item not scheduled on the agenda may be brought forward by the general public for comment; however, the City Council will not be able to discuss or take action on any issue not included on the agenda. You may speak up to three (3) minutes.

Per the Poway Municipal Code, the speaking time may be reduced. Speakers have one opportunity to address the Council under Public Comment.

CONSENT CALENDAR: The Consent Calendar may be enacted in one motion by the Council with a Roll Call Vote without discussion unless a Councilmember, a member of the public, or City Manager requests that an item be removed for discussion .

1. Approval of Reading by Title Only and Waiver of Reading in Full of Ordinances on this Agenda

2. Award of Agreement to Pavement Recycling Systems, Inc. for Asphalt Cold Milling and Operator Services

3. Acceptance of the FY 2024-25 Street Maintenance Project with American Asphalt South, Inc., as Complete

4. Acceptance of the FY 2024-25 Citywide Striping Project with Statewide Stripes, Inc., as Complete

5. Approval of Services for the Replacement of Two Traveling Bridge Cable Reels at the Water Treatment Plant to Westmount Industries

6. City's Investment Report as of December 31, 2024
ORDINANCES FOR INTRODUCTION: None
PUBLIC HEARINGS: None
STAFF REPORTS:

7. Approval of a Three-Year Agreement with San Diego Ice to Provide Snow for the Annual Winter Festival Event
2 of 3 Regular City Council Meeting March 4, 2025
City Manager's Recommendation: It is recommended the City Council approve the three-year Agreement and authorize the City Manager to execute all necessary documents associated with the Agreement between the City of Poway and San Diego Ice Company to provide snow for the annual Winter Festival event.

WORKSHOPS: None
COUNCIL-INITIATED ITEMS: None
COUNCIL COMMITTEE REPORTS and ANNOUNCEMENTS: Pursuant to AB1234 - (G.C. 53232(d)) CITY MANAGER ITEMS:

CITY ATTORNEY ITEMS: (Including any public report of any action taken in closed session) CLOSED SESSION: None
ADIOURNMENT:

State of California
County of San Diego
)
) ss.
)

AFFIDAVIT OF POSTING
I, Carrie Gallagher, CMC, City Clerk of the City of Poway, hereby declare under penalty of perjury that this notice of a Regular meeting as called by the City Council of the City of Poway was posted and provided on February 25, 2025.

Said meeting to be held at 7:00 p.m., March 4, 2025, in the Poway City Council Chambers, 13325 Civic Center Drive, Poway, California. Said notice was posted on the Bulletin Board at the entrance to City Hall. i MMM~{i!fl-
Carrie Gallagher, CMC, Ci~
3 of 3 Regular City Council Meeting March 4, 2025
March 4, 2025, Item #2
DATE:

TO:

FROM:

CONTACT:

SUBJECT:

Summary:

AGENDA RE PO RT City of Poway
March 4, 2025
Honorable Mayor and Members of the City CoITcil
Eric Heidemann, Director of Public Works {
Danielle McIntosh, Senior Management Analy~
(858) 668-4729 or [email protected]

CITY COUNCIL
Award of Agreement to Pavement Recycling Systems, Inc. for Asphalt Cold Milling and Operator Services
A request for proposal (RFP) for Asphalt Cold Milling and Operator Services, RFP No. 25-008, was duly advertised on November 28 and December 5, 2024, through the City of Poway's (City) electronic bid notification system. No proposals were received in response to the advertisement. After no proposals were received, staff contacted a potential contractor and received a proposal from Pavement Recycling Systems, Inc. (Pavement Recycling). Staff reviewed the proposal and determined Pavement Recycling to be responsive and qualified to provide these services. The length of the Agreement shall be for two (2) years beginning April 1, 2025, through March 31, 2027. The Agreement may be extended through a total of three (3) separate one-year terms.

Recommended Action:

It is recommended City Council award the Agreement for Asphalt Cold Milling and Operator Services to Pavement Recycling Systems, Inc. and authorize the City Manager to execute the necessary documents.

Discussion:

The City is responsible for approximately 166 center lane miles of streets. While streets are designed to last between 20 to 40 years, deterioration begins immediately after construction. Regular street maintenance is essential to ensure safe and efficient movement of people and goods throughout the City, to extend the lifespan of the pavement, and to prevent major repairs or full replacements. The City conducts in-house annual pavement maintenance focusing on one (1) of the eight (8) geographic zones. Common street maintenance activities include crack sealing, deep patching, skin patching, slurry sealing, asphalt overlay, and street striping. The specific type of treatment applied is determined by staff, based on condition of the streets and availability of funding. When a street or section of roadway reaches a point where regular maintenance is no longer cost-effective, full reconstruction becomes necessary.
1 of 22
March 4, 2025, Item #2
Street reconstruction involves the process of cold milling, which is the controlled removal of asphalt to a specified depth using rotating drums in grinder machines or planers. This process typically removes one (1) to four (4) inches of the existing surface asphalt, preparing the street for a new asphalt overlay. Cold milling helps preserve ancillary structures such as curbs and gutters, while also allowing for improvements to the grade and surface of the pavement section. Cold milling is a critical service needed to support the hot mix asphalt paving program, commonly referred to as overlay, which is an essential part of maintaining and enhancing the City's streets.

The City issued a notice inviting proposals for asphalt cold milling and operator services on November 28 and December 5, 2024, and proactively contacted companies to encourage submissions. No proposals were received in response to the advertisement. After no proposals were received, staff contacted a potential contractor and received a proposal from Pavement Recycling. Staff reviewed the proposal and determined Pavement Recycling to be responsive and qualified to provide these services. Evaluation criteria included the firm's experience, capacity to perform, and proposed cost.

The overall cost was deemed reasonable and reflects a typical increase based on the Consumer Price Index (CPI) compared to the previous contract. The hourly rates for work performed during scheduled operations are outlined in Table 1 below.

Table 1:

Asphalt Cold Milling and Operator Services Rates
Service Type Mon-Fri After Hours & Sunday &
7:00am-5:00pm Saturday Holidays
48" Asphalt Cold Milling $820 $949 $1,078 Machine and Operator Move On / Move Off Charge $250
The length of the proposed Agreement shall be for two (2) years beginning April 1, 2025, through March 31, 2027. The Agreement may be extended subject to City Council appropriation of funds through a total of three (3) separate one-year terms. The maximum length of the Agreement would be up to five (5) years.

Environmental Review:

This action is not subject to review under the California Environmental Quality Act (CEQA).

Fiscal Impact:

Sufficient funds are budgeted in Fiscal Year 2024-25 Street Maintenance budget (411040-43201) for these services. The City proactively plans for street maintenance work as part of the budget development process.

Public Notification:

None.
2 of22
March 4, 2025, Item #2
Attachments: A.

Standard
Agreement
Reviewed/Approved
By
:

Wendy
Kaserman
Assistant
City
Manager
3 of
22 Reviewed
By
:

Alan
Fenstermacher
City
Attorney
Approved
By
:

Ch
~
City
Manager
March 4, 2025, Item #2
City
of
Poway

STANDARD

AGREEMENT
FOR

SERVICES
This
Agreement,
entered
into
this
1st
day
of
April
2025,
by
and
between
the
CITY
OF
POWAY
(hereinafter
referred
to
as
"City")
and
Pavement
Recycling
Systems,
Inc
. (hereinafter
referred
to
as
"Contractor").

RECITALS

WHEREAS,
City
desires
to
obtain
the
services
for
Asphalt
Cold
Milling
and
Operator
Services;

WHEREAS,
Contractor
has
represented
that
Contractor
possesses
the
necessary
qualifications
to
provide
such
services;
and

WHEREAS
, City
has
authorized
the
preparation
of
an
agreement
to
retain
the
services
of
Contractor
as
hereinafter
set
forth
.

NOW,

THEREFORE,
IT
IS

MUTUALLY
AGREED
THAT
CITY
DOES
HEREBY
RETAIN

CONTRACTOR
ON
THE

FOLLOWING
TERMS
AND
CONDITIONS:

1. Scope
of
Services.

Contractor
shall
provide
services
as
described
in
Exhibit
"A"
entitled
"Special
Provisions"
attached
hereto
and
made
a
part
hereof.

2. Compensation
and
Reimbursement.

City
shall
compensate
and
reimburse
Contractor
as
provided
in
Exhibit
"A"
entitled
"Special
Provisions"
attached
hereto
and
made
a
part
hereof
.

3. Term
of
Agreement.

The
term
of
this
Agreement
shall
be
as
described
in
Exhibit
"A"
entitled
"Special
Provisions"
attached
hereto
and
made
a
part
hereof.

4. Termination. This
Agreement
may
be
terminated
with
or
without
cause
by
City.

Termination
without
cause
shall
be
effective
only
upon
60-day
written
notice
to
Contractor.

During
said
60-day
period
Contractor
shall
perform
all
consulting
services
in
accordance
with
this
Agreement.

This
Agreement
may
be
terminated
by
City
for
cause
in
the
event
of
a
material
breach
of
this
Agreement,
misrepresentation
by
Contractor
in
connection
with
the
formation
of
this
Agreement
or
the
performance
of
services,
or
the
failure
to
perform
services
as
directed
by
City.

Termination
for
cause
shall
be
effected
by
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ATTACHMENT
A
March 4, 2025, Item #2
delivery of written notice of termination to Contractor. Such termination shall be effective upon delivery of said notice.

5. Confidential Relationship.

City may from time to time communicate to Contractor certain information to enable Contractor to effectively perform the services. Contractor shall treat all such information as confidential, whether or not so identified, and shall not disclose any part thereof without the prior written consent of the City. Contractor shall limit the use and circulation of such information, even within its own organization, to the extent necessary to perform the services. The foregoing obligation of this Paragraph 5, however, shall not apply to any part of the information that (i) has been disclosed in publicly available sources of information; (ii) is, through no fault of Contractor, hereafter disclosed in publicly available sources of information; (iii) is now in the possession of Contractor without any obligation of confidentiality; or (iv) has been or is hereafter rightfully disclosed to Contractor by a third party, but only to the extent that the use or disclosure thereof has been or is rightfully authorized by that third party.

Contractor shall not disclose any reports, recommendations, conclusions or other results of the services or the existence of the subject matter of this agreement without the prior written consent of the City. In its performance hereunder, Contractor shall comply with all legal obligations it may now or hereafter have respecting the information or other property of any other person, firm or corporation.

6. Office Space and Clerical Support.

Contractor shall provide its own office space and clerical support at its sole cost and expense.

7. Covenant Against Contingent Fees.

Contractor declares that it has not employed or retained any company or person, other than a bona fide employee working for Contractor, to solicit or secure this Agreement, that it has not paid or agreed to pay any company or person, other than a bona fide employee, any fee, commission, percentage, brokerage fee, gift or any other consideration, contingent upon or resulting from the award or making of the Agreement.

For breach of violation of this warranty, City shall have the right to annul this Agreement without liability, or, at its sole discretion, to deduct from the Agreement price or consideration, or otherwise recover the full amount of such fee, commission, percentage, brokerage fee, gift or contingent fee.

8. Ownership of Documents.

All memoranda, reports, plans, specifications, maps, and other documents prepared or obtained under the terms of this Agreement shall be the property of City and shall be delivered to City by Contractor upon demand.
5 of22
March 4, 2025, Item #2

9. Conflict of Interest and Political Reform Act Obligations.

During the term of this Agreement Contractor shall not act as Contractor or perform services of any kind for any person or entity whose interest's conflict in any way with those of the City of Poway. Contractor shall at all times comply with the terms of the Political Reform Act and the local conflict of interest code. Contractor shall immediately disqualify itself and shall not use its official position to influence in any way any matter coming before the City in which the Contractor has a financial interest as defined in Government Code Section 87103. Contractor represents that it has no knowledge of any financial interests which would require it to disqualify itself from any matter on which it might perform services for the City.
"Contractor" means an individual who, pursuant to a contract with a state or local agency:
6 of22
(A) Makes a governmental decision whether to:

1. Approve a rate, rule or regulation;

2. Adopt or enforce a law;

3. Issue, deny, suspend, or revoke any permit, license, application, certificate, approval, order, or similar
authorization or entitlement;

4. Authorize the City to enter into, modify, or renew a contract provided it is the type of contract that requires City approval;

5. Grant City approval to a contract that requires City approval and to which the City is a party, or to the specifications for such a contract.

6. Grant City approval to a plan, design, report, study, or similar item;

7. Adopt, or grant City approval of, policies, standards, or guidelines for the City, or for any subdivision thereof; or (B) Serves in a staff capacity with the City and in that capacity participates in making a governmental decision as defined in the Political Reform Act and/or implementing regulations promulgated by the Fair Political Practices Commission or performs the same or substantially all the same duties for the City that would otherwise be performed by an individual holding a position specified in the City's Conflict of Interest Code.

DISCLOSURE DETERMINATION:

March 4, 2025, Item #2
~ 1. Contractor will not be "making a government decision" or "serving in a staff capacity" as defined in Sections A and B above.

No disclosure required.

D 2. Contractor will be "making a government decision" or "serving in a staff capacity" as defined in Sections A and B above. As a result, Contractor shall be required to file a Statement of Economic Interest with the City Clerk of the City of Poway in a timely manner as required by law.

Department Director

10. No Assignments.

Neither any part nor all of this Agreement may be assigned or subcontracted, except as otherwise specifically provided herein, or to which City, in its sole discretion, consents to in advance thereof in writing. Any assignment or subcontracting in violation of this provision shall be void.

11. Maintenance of Records.

Contractor shall maintain all books, documents, papers, employee time sheets, accounting records, and other evidence pertaining to costs incurred and shall make such materials available at its office at all reasonable times during the agreement period and for three (3) years from the date of final payment under this Agreement, for inspection by City and copies thereof shall be furnished, if requested.

12. Independent Contractor.

At all times during the term of this Agreement, Contractor shall be an independent contractor and shall not be an employee of the City of Poway. City shall have the right to control Contractor only insofar as the results of Contractor's services rendered pursuant to this Agreement; however, City shall not have the right to control the means by which Contractor accomplishes such services.

13. Licenses, Permits, Etc.

Contractor represents and declares to City that it has all licenses, permits, qualifications, and approvals of whatever nature that are legally required to practice its profession. Contractor represents and warrants to City that Contractor shall, at its sole cost and expense, keep in effect at all times during the term of this Agreement, any license, permit, or approval which is legally required for Contractor to practice its profession.
7 of22
March 4, 2025, Item #2

14. Contractor's Insurance. Contractor
shall
provide
insurance
as
set
forth
in
Exhibit
"A"
entitled
"Special
Provisions"
attached
hereto
and
made
a
part
hereof.

15. Indemnification.
(a)
For
Claims
(as
defined
herein)
other
than
those
alleged
to
arise
from
Contractor's
negligent
performance
of
professional
services,
City
and
its
respective
elected
and
appointed
boards,
officials,
officers,
agents,
employees
and
volunteers
(individually
and
collectively,
"lndemnitees")
shall
have
no
liability
to
Contractor
or
any
other
person
for,
and
Contractor
shall
indemnify,
protect
and
hold
harmless
lndemnitees
from
and
against,
any
and
all
liabilities,
claims,
actions,
causes
of
action,
proceedings,
suits
, damages,
judgments,
liens,
levies,
costs
and
expenses,
including
reasonable
attorneys'
fees
and
disbursements
(collectively
"Claims")
, which
lndemnitees
may
suffer
or
incur
or
to
which
lndemnitees
may
become
subject
by
reason
of
or
arising
out
of
any
injury
to
or
death
of
any
person(s),
damage
to
property,
loss
of
use
of
property,
economic
loss
or
otherwise
occurring
as
a
result
of
Contractor's
negligent
performance
under
this
Agreement,
or
by
the
negligent
or
willful
acts
or
omissions
of
Contractor,
its
agents,
officers,
directors,
sub-Contractors
or
employees.
(b)
For
Claims
alleged
to
arise
from
Contractor's
negligent
performance
of
professional
services,
lndemnitees
shall
have
no
liability
to
Contractor
or
any
other
person
for,
and
Contractor
shall
indemnify
and
hold
harmless
lndemnitees
from
and
against,
any
and
all
Claims
that
lndemnitees
may
suffer
or
incur
or
to
which
lndemnitees
may
become
subject
by
reason
of
or
arising
out
of
any
injury
to
or
death
of
any
person(s),
damage
to
property,
loss
of
use
of
property,
economic
loss
or
otherwise
to
the
extent
occurring
as
a
result
of
Contractor's
negligent
performance
of
any
professional
services
under
this
Agreement,
or
by
the
negligent
or
willful
acts
or
omissions
of
Contractor,
its
agents,
officers,
directors,
sub-Contractors
or
employees,
committed
in
performing
any
of
professional
services
under
this
Agreement.

For
Claims
alleged
to
arise
from
Contractor's
professional
services,
Contractor's
defense
obligation
to
lndemnitees
shall
include
only
the
reimbursement
of
reasonable
defense
costs
and
attorneys'
fees
to
the
extent
caused
by
Contractor's
negligence.
(c)
The
foregoing
obligations
of
Contractor
shall
not
apply
to
the
extent
that
the
Claims
arise
from
the
sole
negligence
or
willful
misconduct
of
City
or
its
elected
and
appointed
boards,
officials,
officers,
agents,
employees
and
volunteers.
(d)
In
any
and
all
Claims
against
City
by
any
employees
of
the
Contractor,
anyone
directly
or
indirectly
employed
by
it or
anyone
fo.r
whose
acts
it may
be
liable,
the
indemnification
obligation
under
this
Section
15 shall
not
be
limited
in
any
way
by
any
limitation
on
the
amount
or
type
of
damages,
compensation
or
benefits
payable
by
or
for
the
Contractor
under
worker's
compensation
acts,
disability
benefit
acts
or
other
employee
benefit
acts
.
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March 4, 2025, Item #2
(e) Contractor shall, upon receipt of written notice of any Claim, promptly take all action necessary to make a claim under any applicable insurance policy or policies Contractor is carrying and maintaining; however, if Contractor fails to take such action as is necessary to make a claim under any such insurance policy, Contractor shall reimburse City for any and all costs, charges, expenses, damages and liabilities incurred by City in making any claim on behalf of Contractor under any insurance policy or policies required pursuant to this Agreement.
(f) The obligations described in Section 15(a) through (e) above shall not be construed to negate, abridge or otherwise reduce any other right or obligation of indemnity which would otherwise exist as to any party or person indemnified pursuant to this Section

15. (g) The rights and obligations of the parties described in this Section 15 shall survive the termination of this Agreement.

16. Assumption of Risk.

Except for injuries to persons caused by the willful misconduct of any lndemnitee and not covered by insurance maintained, or required by this Agreement to be maintained, by Contractor: (a) Contractor hereby assumes the risk of any and all injury and damage to the personnel (including death) and property of Contractor that occurs in the course of, or in connection with, the performance of Contractor's obligations under this Agreement, including but not limited to Contractor's Scope of Services; and (b) it is hereby agreed that the lndemnitees are not to be liable for injury or damage which may be sustained by the person, goods or property of Contractor or its employees in connection with Contractor's performance its obligations under this Agreement, including but not limited to Contractor's Scope of Services.

17. Contractor Not an Agent.

Except as City may specify in writing, Contractor shall have no authority, expressed or implied, to act on behalf of City in any capacity whatsoever as an agent.

Contractor shall have no authority, expressed or implied, pursuant to this Agreement to bind City to any obligation whatsoever.

18. Personnel.

Contractor shall assign qualified and certified personnel to perform requested services. The City shall have the right to review and disapprove personnel for assignment to Poway projects.

City shall have the unrestricted right to order the removal of any person(s) assigned by Contractor by giving oral or written notice to Contractor to such effect.

Contractor's personnel shall at all times comply with City's drug and alcohol policies then in effect.
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March 4, 2025, Item #2

19. Notices. Notices
shall
be
given
as
described
on
Exhibit
"A"
entitled
"Special
Provisions"
attached
hereto
and
made
a
part
hereof.

20. Governing
Law,
Forum
Selection
and
Attorneys'
Fees.

This
Agreement
shall
be
governed
by,
and
construed
in
accordance
with,
the
laws
of
the
State
of
California.

Each
party
to
this
Agreement
consents
to
personal
jurisdiction
in
San
Diego
County,
California,
and
hereby
authorizes
and
accepts
service
of
process
sufficient
for
personal
jurisdiction
by
first
class
mail,
registered
or
certified,
postage
prepaid,
to
its
address
for
giving
notice
as
set
forth
in
Exhibit
"A"
hereto.

Any
action
to
enforce
or
interpret
the
terms
or
conditions
of
this
Agreement
shall
be
brought
in
the
Superior
Court
in
San
Diego
County,
Central
Division,
unless
the
parties
mutually
agree
to
submit
their
dispute
to
arbitration.

Contractor
hereby
waives
any
right
to
remove
any
such
action
from
San
Diego
County
as
is
otherwise
permitted
by
California
Code
of
Civil
Procedure
section
394.

The
prevailing
party
in
any
such
action
or
proceeding
shall
be
entitled
to
recover
all
of
its
reasonable
litigation
expenses,
including
its
expert
fees,
attorneys'
fees,
courts
costs,
arbitration
costs,
and
any
other
fees.

Notwithstanding
the
foregoing,
in
the
event
that
the
subject
of
such
an
action
is
compensation
claimed
by
Contractor
in
the
event
of
termination,
Contractor's
damages
shall
be
limited
to
compensation
for
the
60-day
period
for
which
Contractor
would
have
been
entitled
to
receive
compensation
if
terminated
without
cause,
and
neither
party
shall
be
entitled
to
recover
their
litigation
expenses.

21. Gender. Whether
referred
to
in
the
masculine,
feminine,
or
as
"it,"
"Contractor"
shall
mean
the
individual
or
corporate
Contractor
and
any
and
all
employees
of
Contractor
providing
services
hereunder.

22. Counterparts. This
Agreement
(and
any
amendments)
may
be
executed
in
multiple
counterparts,
each
of
which
shall
be
deemed
an
original,
but
all
of
which,
together,
shall
constitute
one
and
the
same
instrument.

Documents
delivered
by
telephonic
facsimile
transmission
shall
be
valid
and
binding
.

23. Entire
Agreement.

This
Agreement
shall
constitute
the
entire
understanding
between
Contractor
and
City
relating
to
the
terms
and
conditions
of
the
services
to
be
performed
by
Contractor.

No
agreements,
representations
or
promises
made
by
either
party,
whether
oral
or
in
writing,
shall
be
of
any force
or
effect
unless
it is
in
writing
and
executed
by
the
party
to
be
bound
thereby.
10 of
22 March 4, 2025, Item #2

24. Certification and Indemnification Regarding Public Employees' Retirement Law/Pension Reform Act of 2013.

Contractor further provides that in the event Contractor assigns a retired annuitant receiving a pension benefit from CalPERS to perform services for City, the retired annuitant is in full compliance with Government Code section 7522.56. A copy of Government Code section 7522.56 is attached hereto as Exhibit "B." Further, Contractor hereby fully and unconditionally indemnifies City from all penalties, fees, employer and employee contributions, or any other assessments imposed by CalPERS in the event CalPERS determines the person assigned by Contractor to provide services to City has been misclassified.

25. Severability.

If any provision of this Agreement is determined by any court of competent jurisdiction or arbitrator to be invalid, illegal, or unenforceable to any extent, that provision shall, if possible, be construed as though more narrowly drawn, if a narrower construction would avoid such invalidity, illegality, or unenforceability or, if that is not possible, such provision shall, to the extent of such invalidity, illegality, or unenforceability, be severed, and the remaining provisions of this Agreement shall remain in effect. (Remainder of page intentionally left blank)
11 of 22
IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement on the date first above written.

CITY OF POWAY
By:-----------
Chris Hazeltine, City Manager
ATTEST:

Carrie Gallagher, City Clerk
APPROVED AS TO FORM:

By:------------
Alan Fenstermacher, City Attorney
12 of 22
Pavement Recycling Systems, Inc.

By:-------------
Allie Schatz, Sr. Branch Estimator
March 4, 2025, Item #2
March 4, 2025, Item #2

1. Scope
Of
Work.
"SPECIAL
PROVISIONS"

EXHIBIT
"A"
The
purpose
of
this
Agreement
is
to
provide
comprehensive
asphalt
cold
milling
and
operator
services
for
the
City
of
Poway.

The
City
proposes
to
contract
with
a
service
agency
that
is
proactive
in
their
work
standards
and
can
meet
the
qualifications
set
forth
in
this
proposal
package.

The
selected
contractor
shall
perform
48"
wide
x 1-6''
depth
Asphalt
Cold
Milling
and
Operator
Services
for
a
minimum
75 hours
per
year.

The
cold
milling
machines
must
have
a
conveyor
capable
of
loading
five-
and
ten-yard
dump
trucks.

Any
additional
hours
above
the
75-hour
minimum
will
be
paid
at
the
rate
used
to
calculate
the
75-hour
bid
amount.

The
City
will
provide
construction
surveying
and
staking.

2. Personnel. Drivers
are
to
hold
Class
A
Driver's
Licenses
with
proper
endorsements
to
operate
dump
trucks
and
must
have
a
minimum
five
years
of
experience
working
in
a
construction
work
zone.

The
driver
must
have
his/her
valid
license
with
proper
endorsements
in
his/her
possession
while
performing
on
the
job
for
the
City
of
Poway
.

They
will
adhere
to
all
code
standards
of
the
City
of
Poway,
EPA
and
any
other
state
and
federal
requirements.
13 of
22 3.

Technical
Specifications.
a.

Work
described,
as
being
performed
daily
shall
be
performed
Monday
through
Friday
between
the
hours
of
7:00
a.m.
to
5:00
p.m.
unless
otherwise
authorized.

The
driver's
start
time
begins
upon
arrival
at
the
job
site,
at
the
scheduled
time
given
to
start
the
workday.

The
driver's
stop
time
is
when
the
onsite
Project
Manager
signs
the
driver's
time
sheet.
b.

The
determination
of
the
total
daily
productive
man-hour
requirements
for
the
performance
of
all
services
herein
is
the
sole
responsibility
of
the
successful
Contractor.

It
is
of
the
utmost
importance
that
the
Contractor
utilizes
skilled
and
productive
manpower
in
order
to
satisfactorily
furnish
the
required
level
of
service
specified
in
this
solicitation.

Failure
on
the
part
of
the
Contractor
to
utilize
skilled
and
productive
manpower
may
produce
unsatisfactory
results,
which
may
cause
the
Director
of
Public
Works
to
make
adjustments
to
the
Contractor's
invoice(s)
for
unsatisfactory
or
omitted
work
.
c.

The
Contractor
shall
comply
with
applicable
OSHA
and
Federal
regulations
under
CFR
29;
Section
1910.12
for
proper
training
and
by
providing
Material
Safety
Data
Sheets
proposed
for
use
within
ten
(10)
days
of
award
of
contract.
d.

Cold
milling
operators
must
be
able
to
grind
and
load
6,000
square
feet
of
pavement
within
a
four-hour
period.

Generally,
crews
will
only
be
able
to
March 4, 2025, Item #2
support
the
cold
milling
of
2,000
to
6,000
square
feet
per
day
over
a
four
hour
period.
e.

Operators
must
have
five
years
of
continuous
experience
in
milling
machine
operation
and
hold
appropriate
licenses.
f.

Cold
milling
machines
no
more
than
10 years
old
are
to
be
in
sound
mechanical
condition
and
can
be
checked
at
any
time
by
our
Vehicle
Maintenance
Supervisor
to
insure
they
meet
all
appropriate
standards.

Drivers
are
to
hold
at
minimum
a
Class
A
Driver's
License.
g.

Cold
milling
machines
are
required
to
be
available
within
a
two-week
notification.

Operators
must
be
prepared
to
plane
all
thicknesses
of
asphalt
and
similar
materials
on
various
City
roads.

City
crew
leader
and/or
supervisor
responsible
for
the
grinding
operation
can
continually
evaluate
the
performance
of
the
grinders
and
operators.

Termination
of
services
can
occur
if
the
operators
are
not
performing
to
the
satisfaction
of
the
City
supervisor.
h.

Rental
of
the
cold
milling
machines
and
operators
will
be
for
a
minimum
of
four
hours
per
day,
including
weekday-operating
hours,
but
will
not
include
down
time
for
maintenance
or
repair.

Cold
milling
operators
must
hold
proper
vehicle,
liability
and
Workman's
Compensation
insurance
as
specified
in
the
contract.
i.

A
one-time
move
on/move
off
charge
will
be
paid
by
the
City
when
the
cold
milling
machines
are
brought
into
Poway
and
when
removed
once
the
job
is
completed
or
by
the
request
of
the
City.
j.

Cost
is
all-inclusive
for
the
operation
of
the
cold
milling
and
operators
performing
specified
work.
k.

Must
provide
a
24-hour
repair
service
and
must
have
a
qualified
technician
respond
to
any
call
made
by
the
City
representative
within
a
two
(2)
hour
time
frame.

4. Personal
Protective
Equipment.

Contractor
shall
provide
personal
protective
equipment
for
contractor's
personnel,
as
well
as,
fire
extinguishers,
absorbents,
floor
coverings,
traffic
control,
and
other
necessary
spill
containment
materials
for
work
area(s).

5. Unfavorable
Maintenance
Conditions.

During
inclement
weather,
or
other
unsuitable
maintenance
conditions,
the
Contractor
shall
confine
operations
to
work
that
will
not
be
adversely
affected.

No
portion
of
the
work
shall
be
done
under
conditions
that
would
adversely
affect
the
quality
or
the
efficiency
of
the
work,
unless
by
special
means
or
precaution
approved
by
the
City,
allowing
the
Contractor
the
ability
to
perform
the
work
in
a proper
and
satisfactory
manner.
14 of22
March 4, 2025, Item #2

6. Warranty. All
work
performed
under
this
contract
will
carry
a
minimum
thirty-day
warranty
on
labor
and
the
manufacturer's
warranty
on
material.

7. Compensation
and
Reimbursement.

City
shall
pay
Contractor
a
fee
in
accordance
with
the
total
fees
submitted
with
the
proposal
dated
January
8,
2025
,
which
is
included
in
this
document
as
Attachment

1. Contractor's
fee
shall
include,
and
Contractor
shall
be
responsible
for
the
payment
of
all
federal,
state,
and
local
taxes
of
any
kind
which
are
attributable
to
the
compensation
received. In
addition
to
said
consulting
fee,
Contractor
shall
be
reimbursed
for
all
reasonable
expenses,
including
lodging,
telephone
, and
travel
(air,
auto,
rail)
necessarily
incurred
in
performance
of
the
services.

Contractor
shall
bill
City
for
such
expenses
as
incurred,
referencing
this
Agreement.

All
expenses
shall
be
itemized
and
supported
by
receipts
for
amounts
in
excess
of
Twenty-Five
Dollars
($25.00).
_Statements
for
reimbursement
of
expenses
shall
be
paid
within
ten
(10)
days
of
approval
by
City
. All
air
travel
shall
be
billed
at
coach
or
special
fare
rates.

Reimbursement
for
lodging
is
limited
to
travel
from
outside
of
San
Diego
County
. Contractor
shall
receive
prior
authorization
for
air
travel
and
lodging
expenses
. All
other
expenses
shall
be
reimbursed
in
accordance
with
City's
cash
disbursement
policies
in
effect
at
the
time
incurred.

6. Term
of
Agreement.

This
Agreement
shall
be
effective
from
the
period
commencing
April
1,
2025,
and
ending
March
31,
2027,
unless
sooner
terminated
by
City
as
prov
ided
in
the
section
of
this
Agreement
entitled
"Termination.

Upon
expiration
or
termination
of
this
Agreement,
Contractor
shall
return
to
City
any
and
all
equipment,
documents
or
materials
and
all
copies
made
thereof
which
Contractor
received
from
City
or
produced
for
City
for
the
purposes
of
this
Agreement.

7. Contractor's
Insurance.

1. Coverages: Contractor
shall
obtain
and
maintain
during
the
life
of
this
Agreement
all
of
the
following
insurance
coverages:
(a)
Comprehensive
General
Liability,
including
premises-
operations,
products/completed,
broad
form
property
damage,
and
blanket
contractual
liability
with
the
following
coverages:

General
Liabi
lity
$1,000,000
Bodily
Injury
and
Property
Damage
combined
each
occurrence
and
$2,000,000
aggregate.
(b)
Automobile
Liability,
including
owned,
hired,
and
non
-owned
vehicles:
$1,000,000
combined single
limit.
15 of
22 March 4, 2025, Item #2
(c) Workers' Compensation insurance in statutory amount. All of the endorsements which are required above shall be obtained for the policy of Workers' Compensation insurance.

2. Endorsements:

Endorsements shall be obtained so that each policy contains the following three provisions:
(a) Additional Insured. (Not required for Professional Errors and Omissions Liability Insurance or Workers' Compensation.) "City of Poway and its elected and appointed boards, officers, agents, and employees are additional insureds with respect to this subject project and contract with City."
(b) Notice.
"Said policy shall not terminate, nor shall it be canceled, until thirty (30) days after written notice is given to City."
(c) Primary Coverage.
"The policy provides primary coverage to City and its elected and appointed boards, officers, agents, and employees. It is not secondary or in any way subordinate to any other insurance or coverage maintained by City."

3. Insurance Certificates:

Contractor shall provide City certificates of insurance showing the insurance coverages described in the paragraphs above, in a form and content approved by City, prior to beginning work under this Agreement.

8. Notices.

All notices, billings and payments hereunder shall be in writing and sent to the following addresses:

To City:

To Contractor:
16 of 22
City of Poway
P.O. Box 789
Poway, CA 92074
Pavement Recycling Systems, Inc.
704 Rock Spring Rd.

Escondido, CA 92025
March 4, 2025, Item #2
ATTACHMENT 1

FEE PROPOSAL
ASPHALT COLD MILLING And OPERA TOR SERVI ES
Service Type Mon-Fri After Hours & Sunday &
7:00am-5:00pm Saturday Holidays
48" Asphalt Cold Milling $820 $949 $1,078 Machine and Operator Move On/ Move Off $250 Charge

INCLUDES OVERHEAD
(Remainder of page intentionally left blank)
17 of22
March 4, 2025, Item #2
EXHIBIT "B"
Cal Gov Code§ 7522.56
Deering's California Codes are current through all 1016 chapters of the 2018 Regular Session and the November 6, 2018 Ballot Measures.

Deering's California Codes Annotated> GOVERNMENT CODE> Title 1 General> Division 7 Miscellaneous > Chapter 21 Public Pension and Retirement Plans > Article 4 California Public Employees' Pension Reform Act of 2013
§ 7522.56. Provisions applicable to person receiving pension benefit from public retirement system; Section supersedes conflicting provisions (a)This section shall apply to any person who is receiving a pension benefit from a public retirement system and shall supersede any other provision in conflict with this section.
(b) A retired person shall not serve, be employed by, or be employed through a contract directly by, a public employer in the same public retirement system from which the retiree receives the benefit without reinstatement from retirement, except as permitted by this section.
(c) A person who retires from a public employer may serve without reinstatement from retirement or loss or interruption of benefits provided by the retirement system upon appointment by the appointing power of a public employer either during an emergency to prevent stoppage of public business or because the retired person has skills needed to perform work of limited duration.
(d ) Appointments of the person authorized under this section shall not exceed a total for all employers in that public retirement system of 960 hours or other equivalent limit, in a calendar or fiscal year, depending on the administrator of the system. The rate of pay for the employment shall not be less than the minimum, nor exceed the maximum, paid by the employer to other employees performing comparable duties, divided by 173.333 to equal an hourly rate. A retired person whose employment without reinstatement is authorized by this section shall acquire no service credit or retirement rights under this section with respect to the employment unless he or she reinstates from retirement. (e)
18 of 22
(1)Notwithstanding subdivision (c), any retired person shall not be eligible to serve or be employed by a public employer if, during the 12-month period prior to an appointment described in this section, the retired person received March 4, 2025, Item #2
any unemployment insurance compensation arising out of prior employment subject to this section with
a public employer. A retiree shall certify in writing to the employer upon accepting an offer of employment that he or she is in compliance with this requirement.
(2)A retired person who accepts an appointment after receiving unemployment insurance compensation as described in this subdivision shall terminate that employment on the last day of the current pay period and shall not be eligible for reappointment subject to this section for a period of 12 months following the last day of employment.
(f)A retired person shall not be eligible to be employed pursuant to this section for a period of 180 days following the date of retirement unless he or she meets one of the following conditions:
19 of 22
(1 )The employer certifies the nature of the employment and that the appointment is necessary to fill a critically needed position before 180 days have passed and the appointment has been approved by the governing body of the employer in a public meeting. The appointment may not be placed on a consent calendar.
(2)
(A)Except as otherwise provided in this paragraph, for state employees, the state employer certifies the nature of the employment and that the appointment is necessary to fill a critically needed state employment position before 180 days have passed and the appointment has been approved by the Department of Human Resources. The department may establish a process to delegate appointing authority to individual state agencies, but shall audit the process to determine if abuses of the system occur. If necessary, the department may assume an agency's appointing authority for retired workers and may charge the department an appropriate amount for administering that authority.
(B)For legislative employees, the Senate Committee on Rules or the Assembly Rules Committee certifies the nature of the employment and that the appointment is necessary to fill a critically needed position before 180 days have passed and approves the appointment in a public meeting. The appointment may not be placed on a consent calendar. (C)For employees of the California State University, the Trustees of the California State University certifies the nature of the employment and that the appointment is necessary to fill a critically needed position before 180 days have passed and approves the appointment in a public meeting. The appointment may not be placed on a consent calendar.

March 4, 2025, Item #2
(3)The retiree is eligible to participate in the Faculty Early Retirement Program pursuant to a collective bargaining agreement with the California State University that existed prior to January 1, 2013, or has been included in subsequent agreements.
(4)The retiree is a public safety officer or firefighter hired to perform a function or functions regularly performed by a public safety officer or firefighter. (g)A retired person who accepted a retirement incentive upon retirement shall not be eligible to be employed pursuant to this section for a period of 180 days following the date of retirement and subdivision (f) shall not apply. (h)This section shall not apply to a person who is retired from the State Teachers' Retirement System, and who is subject to Section 24214. 24214.5 or 26812 ofthe Education Code.
(i)This section shall not apply to (1) a subordinate judicial officer whose position, upon retirement, is converted to a judgeship pursuant to Section 69615, and he or she returns to work in the converted position, and the employer is a trial court, or (2) a retiree of the Judges' Retirement System or the Judges' Retirement System II who is assigned to .serve in a court pursuant to Section 68543.5.

History
Added Stats 2012 ch 296 § 15 (AB 340). effective January 1, 2013. Amended Stats 2013 ch 528 § 11 (SB 13), effective October 4, 2013 (ch 528 prevails); ch 76 § 75 (AB 383), effective January 1, 2013; Stats 2014 ch 238 § 1 (AB 2476), effective January 1, 2015.

Annotations
Notes
Amendments:
2013 Amendment:

Substituted (1) "have passed" for "has passed" in the first sentence of subds (f)(I) and (f)(2); (2) "or firefighter hired to perform a function or functions regularly performed by a public safety officer or firefighter" for "of firefighter" in subd (f)(4); and (3) "Judges' Retirement System" for "Judges' Retirement System I" in subd (i).
20 of 22
March 4, 2025, Item #2

GUARANTY
To the City of Poway, City Council, for:

ASPHALT COLD MILLING AND OPERATOR SERVICES
The undersigned guarantees the work included in this project(s).

Should any of the materials or equipment prove defective or should the work as a whole prove defective, due to faulty workmanship, material furnished or methods of installation, or should the work or any part thereof fail to operate properly as originally intended and in accordance with the Plans and Specifications, due to any of the above causes, all within the number of months the site is to be maintained after date on which this Contract is accepted by the City, or the date of recordation of Notice of Completion, whichever is the later, the undersigned agrees to reimburse the City upon demand, for its expenses incurred in restoring said work to the condition contemplated in said project, including the cost of any such equipment or materials replaced and the cost of removing and replacing any other work necessary to make such replacement or repairs, or upon demand by the City, to replace any such material and to repair said work completely without cost to the City so that said work will function successfully as originally contemplated.

The City shall have the unqualified option to make any needed replacements or repairs itself or to have such replacements or repairs done by the undersigned. In the event the City elects to have said work performed by the undersigned, the undersigned agrees that the repairs shall be made and such materials as are necessary shall be furnished and installed within a reasonable time after the receipt of demand from the City. If the undersigned shall fail or refuse to comply with his obligations under this guaranty, the City shall be entitled to all cost and expenses, including attorney's fees, reasonably incurred by reason of the said failure or refusal.

Contractor
Date
21 of22
March 4, 2025, Item #2

WORKERS'

COMPENSATION

INSURANCE

CERTIFICATE
Pursuant
to
Section
1861
of
the
State
Labor
Code,
each
Contractor
to
whom
a
public
works
Contract
has
been
awarded
shall
sign
the
following
certificate
and
shall
submit
same
to
the
City
of
Poway
prior
to
performing
any
work
on
the
Contract:
"I
am
aware
of
the
provisions
of
Section
3700
of
the
Labor
Code
which
require
every
employer
to
be
insured
against
liability
for
Workers'
Compensation
or
to
undertake
self
insurance
in
accordance
with
the
provisions
of
that
Code,
and
I will
comply
with
such
provisions
before
commencing
the
performance
of
the
work
of
this
Contract."
Contractor
By:

Title Date
Section
3700
of
the
State
Labor
Code
reads
in
part
as
follows:
"Every
employer
except
the
State
shall
secure
the
payment
of
compensation
in
one
or
more
of
the
following
ways:
(a)
By
being
insured
against
liability
to
pay
compensation
by
one
or
more
insurers
duly
authorized
to
write
compensation
insurance
in
this
state.
(b)
By
securing
from
the
Director
of
Industrial
Relations
a
certificate
of
consent
to
self
insure,
either
as
an
individual
employer,
or
as
one
employer
in
a
group
of
employers,
which
may
be
given
upon
furnishing
proof
satisfactory
to
the
Director
of
Industrial
Relations
of
ability
to
self-insure
and
to
pay
any
compensation
that
may
become
due
to
his
employees
."
22 of
22 March 4, 2025, Item #3
AG EN DA REPORT City of Poway
DATE:

TO:

FROM:

CONTACT:

March 4, 2025
Honorable Mayor and Members of the City Council
Julie Procopio, Director of Development Servicesq
Douglas Nguyen, Assistant Engineer pl'/
(858) 668-4605 or [email protected]

CITY COUNCIL
SUBJECT: Acceptance of the FY 2024-25 Street Maintenance Project with American Asphalt South, Inc., as Complete
Summary:

On June 21, 2022, the FY 2022-23 Street Maintenance project was awarded to American Asphalt South, Inc., Bid No. 22-013. The contract documents include a provision that allows for the contract to be extended. On June 4, 2024, the City Council extended the contract for the FY 2024-25 Street Maintenance project in the amount of $1,436,071.77. This was the second of two allowable extensions.

This action will accept the project as complete.

Recommended Action:

It is recommended the City Council:
1) Accept the FY 2024-25 Street Maintenance project as complete; 2) Authorize the City Clerk to file and record the Notice of Completion; 3) Authorize the release of the retention in the amount of $71,803.59, if unencumbered, 45 days after City Council acceptance;
4) Release the Everest Reinsurance Company Bond for Material and Labor in the amount of $1,436,071.77 after the release of retention; and
5) Retain the Everest Reinsurance Bonding Company Bond for Faithful Performance for a period of one (1) year.

Discussion:

This project is a part of the City's annual street maintenance program which repairs, rehabilitates and reconstructs the arterial and residential streets throughout the City. The City is divided into eight maintenance zones. Annually, the City completes maintenance within a zone for an eight year rotational street maintenance program. This program maintains the condition of the City's public street system at a high level and extends the useful life of the public streets. The scope of the FY 2024- 25 project included street maintenance treatments on public streets within Street Maintenance Zone 7, consisting of placement of Type II emulsion aggregate slurry on streets along with raising water, sewer, and monument lids flush to grade. Street Maintenance Zone 7 is located within the Poway 1 of 2
March 4, 2025, Item #3
Business Park. The work also included street maintenance treatments at the Crosthwaite Maintenance Yard and Glenoak Road in front of Abraxas High School. This project has been coordinated with the FY 2023-24 Street Overlay Project and the FY 2024-25 Citywide Striping Project.

This action accepts the FY 2024-25 Street Maintenance project as complete. The project included two change orders, totaling $41,459.98. The first change order addressed the replacement of 34 inductive traffic signal loops along Scripps Poway Parkway. The second change order accounted for the net difference between the estimated and actual material quantities used in project delivery. The final contract amount is $1,477,531.75.

Environmental Review:

The action of acceptance of public improvements that have been completed, which was the subject of a prior environmental determination, is not considered a Project as defined under Section 15378 of the California Environmental Quality Act (CEQA) State Guidelines; therefore, pursuant to the CEQA State Guidelines Section 15378(b)(5) no environmental review is required.

Fiscal Impact:

Sufficient funds are available in the project account (ST029) for the release of retention. The City proactively planned for this project as part of the annual budget process.

Public Notification:

None.

Attachments:

None.

Reviewed/Approved By:

Assistant City Manager
2 of 2
Reviewed By:

Alan Fenstermacher
City Attorney
Approved By:

Ch~
City Manager
March 4, 2025, Item #4
AG EN DA REPORT City of Poway
DATE:

TO:

FROM:

CONTACT:

March 4, 2025
Honorable Mayor and Members of the City Council
Julie Procopio, Director of Development Services C1)f
Douglas Nguyen, Assistant Engineer pJ
(858) 668-4605 or [email protected]

CITY COUNCIL
SUBJECT: Acceptance of the FY 2024-25 Citywide Striping Project with Statewide Stripes, Inc., as Complete
Summary:

On June 21, 2022, the FY 2022-23 Citywide Striping project was awarded to Statewide Stripes, Inc., Bid No. 22-012. The contract documents include a provision that allows for the contract to be extended.

On July 16, 2024, the City Council extended the contract for the FY 2024-25 Citywide Striping project in the amount of $516,520.00. This was the second of two allowable extensions. This action will accept the project as complete.

Recommended Action:

It is recommended the City Council:
1) Accept the FY 2024-25 Citywide Striping project as complete; 2) Authorize the City Clerk to file and record the Notice of Completion; 3) Authorize the release of the retention in the amount of $25,826.00, if unencumbered, 45 days after City Council acceptance;
4) Release the Merchants Bonding Company Bond for Material and Labor in the amount of $516,520.00 after the release of retention; and
5) Retain the Merchants Bonding Company Bond for Faithful Performance for a period of one (1) year.

Discussion:

This project is a part of the City's annual street maintenance program which repairs, rehabilitates and reconstructs the arterial and residential streets throughout the City. The City is divided into eight maintenance zones. Annually, the City completes maintenance within a zone for an eight year rotational street maintenance program. This program maintains the condition of the City's public street system at a high level and extends the useful life of the public streets. The scope of the project included replacement of traffic striping, thermoplastic legends and pavement markings on public· streets and refreshing painted curbs within Street Maintenance Zone 7. These streets are located within the Poway Business Park. This project also includes refreshing existing striping, legends, and 1 of 2
March 4, 2025, Item #4
painted curbs in additional locations throughout the City as needed. This project has been coordinated with the 2023-24 Street Overlay Project and the 2024-25 Street Maintenance Project.

This action accepts the FY 2023-24 Citywide Striping project as complete, however, the contract will remain in force and open until June 30, 2025, to complete additional as-needed work. There was one Change Order totaling $30,514.89 which included refreshing existing striping at Temple Street, Camino del Norte, Aubrey Park, Hilleary Park and the Community Road Park and Ride. Additional pavement markings were also added to Civic Center Drive and Saint Andrews Drive. The final contract amount is $547,034.89.

Environmental Review:

Fiscal Impact:

Sufficient funds are available in the project account (ST030) for the release of retention. The City proactively planned for this project as part of the annual budget process.

Public Notification:

None.

Attachments:

None.

Reviewed/Approved By:

Assistant City Manager
2 of 2
Reviewed By:

Alan Fenstermacher
City Attorney
Ap~
Ch~ ~d>
City Manager
March 4, 2025, Item #5
DATE:

TO:

FROM:

CONTACT:

SUBJECT:

Summary:

AGENDA REPORT CityofPoway
March 4, 2025
Honorable Mayor and Members of the City Co_u~cil
Eric Heidemann, Director of Public Works '[ \A"

CITY COUNCIL
Troy De Priest, Public Works Assistant Director of Public Works -Utilities ·'1)~ • (858) 668-4750 or [email protected]
Approval of Services for the Replacement of Two Traveling Bridge Cable Reels at the Water Treatment Plant to Westmont Industries
The Lester J. Berglund Water Treatment Plant (WTP) uses a combination of coagulation, sedimentation, filtration and disinfection to treat water delivered by the San Diego County Water Authority and stored in Lake Poway, to required drinking water standards. The sedimentation process is a critical component to the water treatment process which reduces particle concentration in untreated water and minimizes the need for additional chemicals to be added in the process. The WTP has two sedimentation basins, and each basin has a traveling bridge that is necessary for the efficient removal of solids, while also providing accessibility for maintenance and operation. The traveling bridge consists of two end trucks, with cable reels, that move the bridge along the length of the basin, and an undercarriage mechanism that collects and conveys solids to a waste basin. Both traveling bridge cable reels have reached the end of their useful life and need replacement to ensure the WTP continues to operate effectively, meet federal and state water quality standards, and provide clean water to City of Poway residents.

An informal request for proposals for the replacement of the two (2) traveling bridge cable reels at the Water Treatment Plant was requested on October 17, 2024, by the City of Poway (City). The City follows the California Uniform Public Construction Cost Accounting Act (CUPCCM) which allows informal bidding procedures for public works projects under $220,000. City staff contacted five (5) contractors to provide proposals for the services to replace the two (2) traveling bridge components at the WTP. Three (3) proposals were received and reviewed by staff. Staff determined Westmont Industries to be qualified to provide these services at the best value to the City.

Recommended Action:

It is recommended City Council approve the services for the replacement of two (2) traveling bridge cable reels at the WTP, to Westmont Industries, and authorize the City Manager to execute the necessary documents.
1 of 4
March 4, 2025, Item #5
Discussion:

The proposed service is for the immediate replacement of two (2) traveling bridge cable reels. Both the west bridge cable reel and the east bridge cable reel have reached the end of their useful life. The removal, installation, and commissioning requires a specialized contractor with expertise to safely install components of this nature.

Westmont Industries (Westmont) is a dedicated distributor that provides installation and maintenance services for Gleason Reel components. Westmont, the manufacturer of the two existing traveling bridges, completed their installation in 1971, and then a replacement of parts in 1991 including the cable reels that operate the payout of a four-wire electrical cable that runs power to the bridges, motors, and pumps. Westmont is a proven industry leader in the design, manufacture, and installation of heavy-duty mechanical equipment.

The two traveling bridge cable reels and associated components have reached the end of their useful life and require replacement. The proposed project involves replacing the cable reel and spring motor so the bridges can operate as designed.

The table below provides details on the proposals received for this work.

Vendor Proposal
Ovivo USA, LLC $105,601.12
Westmont Industries $81,105.00
MRO West, Inc. $47,886.90
Three (3) proposals were received and reviewed by staff. Staff determined Westmont to be the most qualified contractor capable of procuring, installing, and commissioning the traveling bridges to engineered specifications. The Westmont offer included the components needed, removal and disposal of the existing components, installation of the new cable reels, and on-site commissioning that cannot be completed by City staff due to safety concerns. The MRO West Inc. (MRO) quote listed is for parts only and does not include labor for removal of the existing cable reels, or installation and commissioning of the new cable reels. MRO staff indicated they did not have the capability to remove and install the parts in question and would require City staff to perform the removal and installation.

Therefore, the MRO proposal, despite being lower, is not all-inclusive, and does not represent the best value for the City. Staff did contact (2) additional third-party contractors (American Equipment and Empower Sales) requesting they provide quotes for labor, installation, and commissioning of the cable reels, however, staff did not receive a response. Hiring a company authorized to purchase the desired components with the experience and expertise to remove, install, and commission the cable reel is critical to ensure the ongoing safe operations of essential infrastructure to deliver safe and reliable water to customers on demand. Staff recommends this approach to ensure quality workmanship, staff safety, and optimal value to the City.

Copies of all proposals are on file with the Public Works Department.

Environmental Review:
2of4
March 4, 2025, Item #5
This action is not subject to review under the California Environmental Quality Act (CEQA).

Fiscal Impact:

Sufficient funds are budgeted in Fiscal Year 2024-25 Water Supply, Treatment, and Storage budget (402060-43080) for these services. The City proactively plans for equipment repair and replacement as part of the budget development process.

Public Notification:

None.

Attachments:

A. Westmont Industries Proposal
Reviewed/Approved By:

W~ndyaserman
Assistant City Manager
3 of4
Reviewed By:

Alan Fenstermacher
City Attorney
Approved B~·
criit.2
City Manager
March 4, 2025, Item #5
Company:

Attention:

Email:
10805 Painter Avenue
Santa Fe Springs, C<llifornia
90670 United States
Phone: +1.562.944.6137
Fax: +1.562.946.5299
\.vww.westmont.com

QUOTATION RESPONSE
Date:

From:

Quote#:

December 09, 2024
Bridget Mahfet
0025429 Rev : l
Subject:

Your Ref:
cc:

CITY OF POWAY
Randy Slusher
[email protected]

YOURRFQ
Quotation Response # of Pages (including this sheet)
Quote Validity: 30 DAYS
Incoterms: EXW FACTORY
Westmont Industries is pleased to provide the following price and delivery information:

Item Part Number/ Description
001 WI-0433, CABLE REEL, SPRING MOTOR
002 MISCONS , INSTALLATION
-INCLUDES TWO ( 2) WESTMONT TECHNICIANS FOR THREE ( 3 ) DAYS TO REMOVE & INSTALL TWO ( 2) CABLE REELS
-CUSTOMER TO SUPPLY AND OPERATE THE CRANE TO REMOVE & INSTALL THE

NEW REELS

END USER

COUNTRY

CITY OF POWAY
USA
• Terms of Sale: Wcsbnont Standard Terms of Sale
• Credit Terms: Subject to review at time of order placement • Pricing: Based on the quantities listed and is in U.S. dollars • Lead-Time: Quoted lead-time is approximate and subject to change based on availability Qty
2 Total
• Sales Tax (for U.S. sales only): Unless a valid California Resale Certificate is on file, this order will be subject to sales tax as may be applicable and will be reflected on the final invoice. • Packaging: Unless otherwise specified, special packaging is not included • Minimum Order Requirement: $500.00
• Credit Card Payments: Westmont accepts credit card payment for orders up to $1,500.00 and a 3% surcharge will apply. • Orders must be picked-up within ten (10) business days from order readiness notification Thank you for the opportunity to bid.

Regards,
Bridget Mahfet
AGSE, Regional Director, America
+1 714 904 3442 -Mobile
[email protected]
4of4 ATTACHMENT A
Price Each Lead Time
$33,990.00 14-16 WEEKS
$13,125.00 3DAYS
$81,105.00
March 4, 2025, Item #6
AGENDA REPORT CityofPoway
DATE:

TO:

FROM:

CONTACT:

SUBJECT:

Summary:

March 4, 2025
Honorable Mayor and Members of the City Council
Craig Schmollinger, Director of Finance @-
Mehrnoush Jamshidi, Finance Manager '~U
(858) 668-4426 or [email protected]
City's Investment Report as of December 31, 2024

CITY COUNCIL
Quarterly reports of investments are required to be presented to the City Council per California Government Code and the City's Investment Policy. Attached is the Investment Portfolio Report as of December 31, 2024.

Recommended Action:

It is recommended the City Council accept and file the attached report.

Discussion:

Pursuant to California Government Code Sec. 53646(b)(1) and the City's Investment Policy, the Director of Finance (i.e., City Treasurer) renders a quarterly investment report to the City Council concerning the investment portfolio's earnings and performance results. In accordance with the Investment Policy, the quarterly report includes information such as the investment type, issuer, date of maturity, par value, amount invested, current market value, and the source of the market value information.

The City is in compliance with its adopted Investment Policy, and the City's investment program provides sufficient liquidity to meet its cash flow requirements for the next six months. The fair value of the City's investment portfolio as of December 31, 2024, was $141,334,328. It consisted of the following:
(Remainder of page intentionally left blank)
1 of 33
March 4, 2025, Item #6
Investment Portfolio Total
Cash $96,249
Deposits at CalTRUST $25,078,505
Deposits at the Local Agency Investment Fund (LAIF) $34,118,812 U. S. Treasury Notes $34,155,677
U. S. Instrumentalities $24,597,864
Corporate Notes $23,287,221
Fair Value of Investment Portfolio as of December 31, 2024 $141,334,328 It is the City's practice to keep funds (including those identified to pay for Capital Improvement Projects) invested and earning interest until they are needed. In addition to changing market conditions, reductions in the fair value of the investment portfolio can also be reflective of payments for large capital projects as well as operational expenses. Additional funding was needed in November to issue debt service payments.

The attached Investment Portfolio Report (Attachment B) and Investment Report (Attachment C) were prepared by the City's investment manager, Insight Investment, with input from the City's Finance Department. The Portfolio Report includes all investments while the Investment Report includes only those investments managed by Insight Investment.

All City funds, including the General Fund, Water Fund, Wastewater Fund and others -except those identified in Attachment D, are pooled and invested, with earned interest allocated quarterly based on the average daily cash balance in each fund. The funds on deposit at LAIF and CalTRUST earn interest at variable rates. The interest rate for the month ending December 31, 2024, is estimated at

4.43% for LAIF, 4.50% for the CalTRUST short-term fund, and 4.18% for the CalTRUST medium-term fund.

For fixed income securities, the difference between amortized cost and fair value is considered an unrealized gain or loss. A realized loss is when the principal of the security is redeemed before its maturity date at a fair value lower than its amortized cost value. The amortized cost value of the externally managed investment portfolio is $82,175,345; the fair value is $82,137,011 for an unrealized loss of $38,333 or 0.05% of the total amortized cost value. The source of the fair value information for the U.S. Treasury Notes, the U.S. Instrumentalities, Corporate Notes, and Municipal Bonds is Interactive Data Corporation.

Also included with this report are recaps of the City's cash and investments held by fiscal agents, non managed investments, and cash on hand. The total book value of the cash and investments held by our fiscal agent, U.S. Bank, at December 31, 2024, was $1,311,948. The source of the market value information for these investments was U.S. Bank. The total book value of the non-managed investments was $55,240 at December 31, 2024. The City's cash on hand at December 31, 2024 totaled $2,975,755.

The December 31, 2024 balance of the City's Library Trust Fund is $265,678. Through the Fiscal Year 2024-25 period ending December 31, 2024, no interest earnings have been transferred to the General Fund. At the close of Fiscal Year 2024-25, 90% of the Library Trust Fund's interest earnings will be transferred to the General Fund to partially offset library operating costs. 2 of 33
March 4, 2025, Item #6
Environmental Review:

This action is not subject to review under the California Environmental Quality Act (CEQA).

Fiscal Impact:

The externally managed investment portfolio earned $199,400 of interest during December 2024, as well as $188,404 of interest during November 2024, and $196,058 during October 2024. Fees for investment services during this period totaled $10,245. Net revenues received from investments are recorded to each fund based on a proportional share of invested funds for the period. Investment income is budgeted each year to account for this revenue source in each impacted City fund.

Public Notification:

None.

Attachments:

A. Investment Statistics
B. Investment Portfolio Report prepared by Insight Investment C. Investment Report prepared by Insight Investment
D. City of Poway Investments and Cash with Fiscal Agent; General, Payroll, and Petty Cash Report at December 31, 2024
Reviewed/Approved By:
w.!ea,~
Assistant City Manager
3 of33
Reviewed By:

Alan Fenstermacher
City Attorney
Chris Hazeltine
City Manager
March 4, 2025, Item #6
City of Poway
Investment Statistics
Separately Managed Investment Pools
Fair Value:

CalTRUST Short-Term Deposits
CalTRUST Medium-Term Deposits
December
2023
$ 12,110,989
11,872,263
27,034,723
September
2024
$ 12,620,874
12,394,321
41,309,924
December
2024
12,728,872
12,349,633
34,118,812
Deposits at the Local Agency Investment Fund (LAIF)
Total Fair Value $ 51,017,975 $ 66,325,119 $ 59,197,317 Weighted Average Yield
Effective Average Duration in days
Weighted Average Maturity in days
Externally Managed Investment Pools
Fair Value:

4.15%
1 1

4.53%
1 1

4.39%
1 1
Cash $ 79,918 $ 60,283 $ 96,249
U.S. Treasury Notes
U.S. Instrumentalities
Corporate Bonds
Total Fair Value
Amortized Cost Value:

Cash
U.S. Treasury Notes
U.S. Instrumentalities
Corporate Bonds
Total Amortized Cost Value
Unrealized Gain (Loss)
Unrealized Gain (Loss) Percentage
Accrued Interest Earned
Weighted Average Yield
Effective Average Duration in years
Weighted Average Maturity in years
30,352,151
25,458,662
22,959,752
78,850,483
79,918
30,465,999
25,466,779
22,966,099
78,978,795
(128,312)
-0.16%
161,525

3.31%

1.98 2.17
33,912,608
24,887,356
23,571,712
82,431,959
60,283
33,583,566
24,509,438
23,193,823
81,347,110
1,084,849

1.33%
183,703

4.17%

2.18 2.38
34,155,677
24,597,864
23,287,221
82,137,011
96,249
34,249,619
24,590,617
23,238,861
82,175,345
(38,333)
-0.05%
199,400

4.26%

2.03 2.21
Total Fair Value of Portfolio Assets $ 129,868,458 $ 148,757,078 $ 141,334,328 Weighted Average Yield
Effective Average Duration in years
Weighted Average Maturity in years
Glossary of Yield Terminology

3.64%

1.20 1.32

4.33%

1.21 1.32
Coupon: A bond's coupon is the periodic interest payment made to the holder of the fixed income security during the life of the bond. Coupon payments can be made monthly, quarterly, or annually.

Book Yield: The Book Yield is that rate of return that will make the present value of the future cash flows of a fixed income security equal to the price paid for the security. This assumes that the security will be held to its maturity.

Current Yield: Annual rate of return on an investment expressed as a percentage. Current Yield of a fixed income security is the annualized earnings (coupon) divided by the bond's market value as of the valuation date.

One Year Total Yield: The One Year Total Yield or One Year Return represents the portfolio's percentage change over a year's time, factoring in interest payments, changes in market value and reinvestment of distributions.

4.32%

1.18 1.29
Weighted Average Yield: The total yield on a bond portfolio divided by the number of bonds contained in it, weighted for the size of each bond so that the yield of large holdings does not drown out the calculation of yields on small holdings.

Yield to Maturity: The Yield to Maturity (YTM) or Market Yield to Maturity of a fixed income security is that rate of interest that will make the present value of the future cash flows equal to the market value as of the valuation date, assuming the bond is held to maturity. 4of33 ATTACHMENT A
March 4, 2025, Item #6
City of Poway
Monthly Investment Portfolio Report
December 31, 2024
Separately Managed Investment Pools % Return
LAIF $ 34,118,812 58% 4.43%
CalTrust -Short $ 12,728,872 22% 4.50%
CalTrust -Medium $ 12,349,633 21% 4.18%
Total Internally Managed $ 59,197,317 42%
Weighted Average Yield 4.39%
Days
Effective Average Duration -Internal 1
Weighted Average Maturity -Internal 1
Externally Managed Assets % Return
Cash $ 96,249 0% 3.75%
Treasury Securities $ 34,155,677 42% 4.06%
Instrumentality Securities $ 24,597,864 30% 4.24%
Corporate Notes $ 23,287,221 28% 4.60%
Total Externally Managed $ 82,137,011 58%
Weighted Average Yield 4.26%
Years
Effective Average Duration -External 2.03
Weighted Average Final Maturity -External 2.21
Total Portfolio Assets % Return
LAIF $
CalTrust -Short $
CalTrust -Medium $
Cash $
Treasury Securities $
Instrumentality Securities $
Corporate Notes $
Total Portfolio Assets $
Weighted Average Yield
Effective Average Duration -Total
Weighted Average Maturity-Total
Portfolio Change
Beginning Balance
Ending Balance
Assets values shown at Market
5 of33
34,118,812 24% 4.43%
12,728,872 9% 4.50%
12,349,633 9% 4.18%
96,249 0% 3.75%
34,155,677 24% 4.06%
24,597,864 17% 4.24%
23,287,221 16% 4.60%
141,334,328

4.32%
Years

1.18 1.29
$
$
Call rust-
CalTrust -Short,
22%
23%
136,928,076
141,334,328

ATTACHMENT B
LAIF, 58%
Cash, 0%
Treasury
~ Securities, 42%
Instrumentality
Securities, 30%
Ca IT rust -Short CalTrust-
12%
Cash
0%
March 4, 2025, Item #6
6 af33
~1fiT/AfClfl
lMI
El~1f
C
March 4, 2025, Item #6
.....

Contents 0 ....
w w
Fixed income market review 3
Activity and performance summary 4
Recap of securities held 6
Maturity distribution of securities held 7
Securities held 8
GASB 40 - Deposit and investment risk disclosure 14
Securities purchased 18
Securities sold and matured 19
Detail of return and interest received 20
Transaction report 24
Additional information 26
March 4, 2025, Item #6
00 0 ....
w w

FIXED INCOME MARKET REVIEW
As of December 31, 2024
Chart 1: The FOMC projects a gentler rate cutting cycle s
4 3
*
2 --- Fed Funds rate
-+- FOMC Median projection (Dec-2024)
1 -+- FOMC Median projection (Sep-2024)
• • • • • • Market expectations (Dec-31-2024)
0 Jan-22 Jan-23 Jan-24 Jan-25 Jan-26 Jan-27
Source: Bureau of Labor Statistics, Bloomberg, December 31, 2024 Chart 2: Payrolls rebound after hurricane-related disruptions 1000
900
800
700
II>
-0 600 C:
"' 500 "' :::,
0 400 ~ 300
200
100
0 2021 2022 2023
Jan-28
2024
- New non-farm payrolls - -- -- 6-month average
Source: Bureau of Labor Statistics, Bloomberg, December 31, 2024 Jan-29

CITY OF POWAY
Economic Indicators and Monetary Policy
The FOMC cut the Fed Funds rate by 2Sbp, taking it to a range of 4.25% to 4.5%, with one member dissenting.

The central bank also adjusted its median "dot plot" interest rate projections to reflect only two rate cuts in 2025, down from the four it projected in September. Additionally, it slightly increased its median projection for the longer run "neutral" rate slightly from 2.9% to 3%.

The FOMC increased both its headline and core inflation projections for 2025 from 2.1 % and

2.2% respectively to 2.5%. Chair Powell acknowledged that "some" committee members did start to consider President-elect Trump's fiscal policy agenda, although he emphasized that the potential impact of tariffs remains highly uncertain at this stage.

CPI rose from 2.6% to 2. 7% and PCE from 2.3% to 2.4%. Core CPI remained at 3.3%, and core PCE remained at 2.8%. However, the stickier" core services inflation components, such as rents, medical services and transportation services showed almost universal progress .

The US economy added 227,000 jobs in November, close to consensus forecasts. The prior two months were revised up following hurricane and strike related disruptions in the prior month. The post-strike bounce in manufacturing was less than expected, however, at 22,000.

Services-providing jobs were strong at 160,000 with leisure and hospitality bouncing 53,000 following the hurricane.

The unemployment rate edged up from 4.1 % to 4.2% while the participation rate fell from 62.6% to 62.5%. Wage growth remained at 4%.

The third estimate of Q3 GDP growth was revised from 2.8% to 3.1 % with net exports the main reason for the revision.

Interest Rate Summary
Yields rose across the curve. At the end of December, the 3-month US Treasury bill yielded

4.31 %, the 6-month US Treasury bill yielded 4.27%, the 2-year US Treasury note yielded 4.24%, the 5-year US Treasury note yielded 4.38% and the 10-year US Treasury note yielded 4.57%. 3 March 4, 2025, Item #6
U)
0 ACTIVITY AND PERFORMANCE SUMMARY
For the period December 1, 2024 - December 31, 2024
: I Amortized Cost Basis Activity Summary
w Opening balance 81,677,815.23
Income received 404,909.67
Total receipts 404,909.67
Total disbursements 0.00
lnterportfolio transfers 0.00
Total lnterportfollo transfers
Realized gain (loss)
Change in accruals from security movement
Total amortization expense
Total 01D/MKT accretion Income
Return of capital
Closing balance
Ending fair value
Unrealized gain (loss)
Comparative Rates of Return (%)
*Twelve * Six
month trailing month trailing
Fed Funds
Overnight Repo
Merrill Lynch 3m US Treas Bill
Merrill Lynch 6m US Treas Bill
ML 1 Year US Treasury Note
ML 2 Year US Treasury Note
ML 5 Year US Treasury Note
* rates reflected are cumulative

5.14 5.21

5.00 4.85

4.68 4.36

4.12 2.47

2.50 2.35

2.25 2.17

2.04 1.98

0.00 0.00

0.00 (3,891.19)
96,510.91

0.00 82,175,344.62
82,137,011.13
(38,333.49)
* One month

0.37 0.38

0.35 0.35

0.35 Detail Qf Amortized Cost Basis Return
Interest Accretion Realized
earned (amortization) gain (loss)
Cash and Cash Equivalents 281 .17 0.00 0.00
Corporate Bonds 75,535.05 15,012.73 0.00
Government Agencies 61,662.44 26,966.76 0.00
Government Bonds 61,921.76 50,640.23 0.00
Total 199,400.42 92,619.72 0.00
Summary of Amortized Cost Basis Return for the Period
Interest earned
Accretion (amortization)
Realized gain (loss) on sales
Total income on portfolio
Average daily amortized cost
Period return(%)
YTD return (%)
Weighted average final maturity in days

CITY OF POWAY
Total
income
281.17
90,547.78
88,629.20
112,561.99
292,020.14
Total portfolio
199,400.42
92,619.72

0.00 292,020.14
81,983,752.99

0.35 4.01
807
4 March 4, 2025, Item #6
...
0 0 ....
w w

ACTIVITY AND PERFORMANCE SUMMARY
For the period December 1, 2024 - December 31, 2024
Fair Value Basis Activity Summary
Opening balance
Income received
Total receipts
Total disbursements
lnterportfolio transfers
Total lnterportfollo transfers
Unrealized gain (loss) on security movements
Change in accruals from security movement
Return of capital
Change in fair value for the period
Ending fair value
404,909.67

0.00 Comparative Rates of Return (%)
*Twelve * Six
month trailing month trailing
Fed Funds
Overnight Repo
ICE Sofa 3 Months UST-BILL
ICE Bofa 6m US Treas Bill
ICE Bofa 1 Yr US Treasury Note
ICE BofAUS Treasury 1-3
ICE BofA US Treasury 1-5
* rates reflected are cumulative

5.14 2.47

5.21 2.50

5.25 2.55

5.35 2.73

4.75 2.75

4.08 2.81

3.41 2.59
81,900,802.21
404,909.67

0.00 0.00

0.00 (168,700.75)
82,137,011.13
* One
month

0.37 0.38

0.40 0.44

0.45 0.24
(0.07)
Detail of Fair Value Basis Return
Interest Change in
earned fair value
Cash and Cash Equivalents 281 .17 0.00
Corporate Bonds 75,535.05 (79,632.85)
Government Agencies 61,662.44 (53,969.74)
Government Bonds 61,921 .76 (35,098.16)
Total 199,400.42 (168,700.75)
Summary of Fair Value Basis Return for the Period
Interest earned
Change in fair value
Total income on portfolio
Average daily total value*
Period return(%)
YTD return (%)
Weighted average final maturity in days
* Total value equals market value and accrued interest

CITY OF POWAY
Total
income
281.17
(4,097.80)
7,692.70
26,823.60
30,699.67
Total portfolio
199,400.42
(168,700.75)
30,699.67
82,606,605.09

0.04 4.13
807
5 March 4, 2025, Item #6

RECAP OF SECURITIES HELD
As of December 31, 2024 ..... .....
0 Historical ....
w cost w
Cash and Cash Equivalents 96,248.53
Corporate Bonds 22,944,931.00
Government Agencies 24,113,261 .59
Government Bonds 33,158,915 .99
-.mi
r.'P!llllil!- •=- -=z:z:111111111111
\
Amortized Fair value Unrealized Weighted
cost gain (loss) average
final
maturity (days)
96,248.53 96,248.53 0.00 1
23,238,860.85 23,287,221 .39 48,360.54 852
24,590,616.58 24,597,864 .28 7,247.70 812
34,249,618 .66 34,155,676.93 (93,941.73) 775
.r..•~~W~.'P.!IILM ... ~ ~~--'!II ~_..-,fl
Portfolio diversification (%)
■ Cash and Cash Equivalents
■ Corporate Bonds
■ GovernmentAgencies
■ Government Bonds
Total
Percent
of
portfolio

0.12 28.57

30.02 41.29

0.12 28.57

30.02 41.29
100.00

CITY OF POWAY
Weighted
average
effective
duration (years)

0.00 2.02

2.08 2.00
6 March 4, 2025, Item #6
... "' 0 ....
w w

MATURITY DISTRIBUTION OF SECURITIES HELD
As of December 31, 2024
Maturity
---
Under 90 days
90 to 179 days
1 80 days to 1 year
1 to 2 years
2 to 3 years
3 to 4 years
4 to 5 years
Over 5 years

25.00 E 20.00
.§.
~ 15.00
ra
-~ 10.00
0 ....,
Ill
:i: 5.00
o.ooL _ _. __ ._
o~~
of>
b,t;.
.;:;,"' C1lc;:;i'--o
o~~
~(1)
"
~<;;)
"
Maturity distribution
~
"'\fl)
,o
oi\""
rt>(?
.:.,0
'1,,
..._,o
rb""
.:.,0
":,
'1, ,o
rb""
.:.,0
I).
":,..p
Historic cost
1,099,108.53
4,420,139 .13
8,994,978.10
23,743,738.25
18,868,288.93
16,598,445.25
6,588,658.92

0.00 rb""
.:.,0
<-:i
rb"" .:.,0
/..<-:>
i,.'--0 0-l.e,

CITY OF POWAY
Percent

1.37 5.50
11 .20

29.56 23.49

20.67 8.20

0.00 7
March 4, 2025, Item #6

SECURITIES HELD

CITY OF POWAY
As of December 31 , 2024 ... w
2, Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % w Call date shares gain accrued Port w (loss) interest cost Cash and Cash Equivalents
Cash and Cash Equivalents 0.000 96,248.53 96,248 .53 96,248.53 96,248 .53 0.00 0.00 0.12 - - - -- -- -- - -· --- --Total cash and Cash Equivalents 96,248.53 96,248.53 96,248.53 96,248 .53 0.00 0.00 0.12 Corporate Bonds
166764BW9 CHEVRON CORP 1.554% 11 MAY2025 (CALLABLE 1.554 05/11/2025 1,800,000.00 1,715,436 .00 1,789,761 .66 1,780,450 .02 (9,311.64) 3,885 .00 2.14 11APR25) 04/11/2025
24422ETC3 JOHN DEERE CAPITAL CORP 3.4% 11 SEP2025 3.400 09/11/2025 1,000,000.00 989,920 .00 997,685.20 991,801 .06 (5,884.14) 10,388.89 1.23 02665WEY3 AMERICAN HONDA FINANCE 4.95% 09JAN2026 4.950 01/09/2026 1,000,000 .00 995,500 .00 997,013.49 1,001,776.15 4,762.66 23,650 .00 1.24 037833EB2 APPLE INC 0.7% 08FEB2026 (CALLABLE 08JAN26) 0.700 02/08/2026 1,200,000.00 1,096,152 .00 1,158,750 .99 1,153,005.41 (5,745.58) 3,336 .67 1.36 01/08/2026
06051GFX2 BANK OF AMERICA CORP 3.5% 19APR2026 3.500 04/19/2026 1,800,000 .00 1,736,028 .00 1,771,011.72 1,773,021 .71 2,009.99 12,600 .00 2.16 91159HHN3 US BANCORP 2.375% 22JUL2026 (CALLABLE 22JUN26) 2.375 07/22/2026 1,000,000 .00 944,140 .00 964,805.70 966,615 .34 1,809.64 10,489 .58 1.18 06/22/2026
02665WBH3 AMERICAN HONDA FINANCE 2.3% 09SEP2026 2.300 09/09/2026 1,100,000.00 1,034,869.00 1,067,882 .77 1,058,955.48 (8,927.29) 7,871 .11 1.29 17325FBC1 CITIBANK NA S.488% 04DEC2026 (CALLABLE 04NOV26) 5.488 12/04/2026 1,400,000.00 1,420,132.00 1,413,287.92 1,420,666 .24 7,378.32 5,762.40 1.77 11/04/2026
17275RBQ4 CISCO SYSTEMS INC 4.8% 26FEB2027 (CALLABLE 4.800 02/26/2027 1,250,000.00 1,253,77S.OO 1,252,755.53 1,259,047.9S 6,292.42 20,833 .33 1.56 26JAN27) 01/26/2027
037833DB3 APPLE INC 2.9% 12SEP2027 (CALLABLE 12JUN27) 2. 900 09/12/2027 1,300,000.00 1,234,987.00 1,262,474.68 1,250,365.49 (12,109.19) 11,414 .72 1.54 06/12/2027
8 March 4, 2025, Item #6

SECURITIES HELD

CITY OF POWAY
As of December 31, 2024 .....

J:-
g, Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % w Call date shares gain accrued Port w (loss) interest cost Corporate Bonds
24422EWK1 JOHN DEERE CAPITAL CORP 4.15% 15SEP2027 4.150 09/15/2027 1,000,000.00 992,020.00 995,387.97 990,588.53 (4,799.44) 12,219.44 1.24 89236TKQ7 TOYOTA MOTOR CREDIT CORP 4.625% 12JAN2028 4.625 01/12/2028 1,100,000.00 1,091,585.00 1,094,727.95 1,097,524.31 2,796.36 23,882.99 1.36 46625HRY8 JPMORGAN CHASE & CO 3.782% 01 FEB2028 (CALLABLE 3.782 02/01/2028 2,000,000.00 1,909,600.00 1,933,177.38 1,957,737.76 24,560.38 31,516.67 2.38 01 FEB27) 02/01/2027
194162AR4 COLGATE-PALMOLIVE CO 4.6% 01 MAR2028 (CALLABLE 4.600 03/01/2028 2,400,000.00 2,391,240.00 2,394,450.22 2,416,029.74 21,579.52 36,800.00 2.98 01 FEB28) 02/01/2028
91159HJF8 US BANCORP 4.548% 22JUL2028 (CALLABLE 22JUL27) 4.548 07/22/2028 900,000.00 890,253.00 892,248.35 892,541.98 293.63 18,078.30 1.11 07/22/2027
17325FBB3 CITIBANK NA 5.803% 29SEP2028 (CALLABLE 29AUG28) 5.803 09/29/2028 1,000,000.00 1,027,800.00 1,021,518.90 1,031,125.31 9,606.41 14,829.89 1.28 08/29/2028
17275RBR2 CISCO SYSTEMS INC 4.85% 26FEB2029 (CALLABLE 4.850 02/26/2029 1,000,000.00 999,390.00 999,471.90 1,006,294.54 6,822.64 16,840.28 1.24 26JAN29) 01/26/2029
717081ET6 PFIZER INC 3.45% 15MAR2029 (CALLABLE 15DEC28) 3.450 03/15/2029 1,300,000.00 1,222,104.00 1,232,448.52 1,239,674.37 7,225.85 13,205.83 1.52 12/15/2028
- -Total Corporate Bonds 23,550,000.00 22,944,931.00 23,238,860.85 23,287 ,221.39 48,360.54 277,605.10 28.57 Government Agencies
3130AL2A1 FEDERAL HOME LOAN BANK 0.5% 1 OFEB2025 CALLABLE 0.500 02/10/2025 1,000,000.00 1,002,860.00 1,000,000.00 995,780.24 (4,219.76) 1,958.33 1.25 3136G4K85 FANNIE MAE 0.5% 18AUG2025 CALLABLE #0000 0.500 08/18/2025 1,350,000.00 1,266,394.50 1,314,236.30 1,318,762.15 4,525.85 2,493.75 1.58 3134A2HG6 FREDDIE MAC 0% 11 DEC2025 0.000 12/11/2025 1,000,000.00 895,930.00 958,734.05 960,204.89 1,470.84 0.00 1.12 9 March 4, 2025, Item #6

SECURITIES HELD

CITY OF POWAY
As of December 31, 2024 .....

U1
~ Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % w Call date shares gain accrued Port w (loss) interest cost Government Agencies
3130ALHHO FEDERAL HOME LOAN BANK 0. 96% 05MAR2026 0.960 03/05/2026 2,300 ,000.00 2,092,540.00 2,211,267.11 2,213,641.90 2,374 .79 7,114.67 2.61 (CALLABLE 05FEB25) 02/05/2025
3130AWLZ1 FEDERAL HOME LOAN BANK 4.75% 12JUN2026 4.750 06/12/2026 1,100,000.00 1,096,612.00 1,098,226.14 1,106,942.97 8,716.83 2,757.64 1.37 3133EPUW3 FEDERAL FARM CREDIT BANK 4.75% 01 SEP2026 4.750 09/01/2026 2,000,000.00 1,987,080.00 1,992,504.90 2,015,403.30 22,898.40 31,666.67 2.47 3130APJH9 FEDERAL HOME LOAN BANK 1.5% 280CT2026 1.500 10/28/2026 2,050,000.00 1,860,110.55 1,958,261.93 1,964,549.87 6,287.94 5,381.25 2.32 (CALLABLE 28JAN25) #0006 01/28/2025
3133EPK79 FEDERAL FARM CREDIT BANK 4.375% 07DEC2026 4.375 12/07/2026 1,200,000.00 1,196,508.00 1,197,754.68 1,201,207 .76 3,453.08 3,500.00 1.49 3130AQF65 FEDERAL HOME LOAN BANK 1.25% 21 DEC2026 1.250 12/21/2026 2,300,000.00 2,055,763 .00 2,181,303.82 2,174,871 .15 (6,432.67) 798.61 2.56 3130ATHWO FEDERAL HOME LOAN BANK 4.125% 1 OSEP2027 4.125 09/10/2027 2,000,000.00 1,993,260.00 1,996 ,306.33 1,990,228.74 (6,077.59) 25,437.50 2.48 3133EPCG8 FEDERAL FARM CREDIT BANK 4.125% 01 DEC2027 4.125 12/01/2027 1,000,000.00 989,640.00 993,613.87 993,884.41 270.54 3,437.50 1.23 3130ATU54 FEDERAL HOME LOAN BANK 4.25% 1 ODEC2027 4.250 12/10/2027 2,000,000.00 2,010,731.16 2,006 ,552.44 1,996 ,990.98 (9,561.46) 4,958.33 2.50 3133EN5N6 FEDERAL FARM CREDIT BANK 4% 06JAN2028 4.000 01/06/2028 1,100,000.00 1,105,292 .88 1,103,245.66 1,089 ,288.65 (13,957.01) 21,388.89 1.38 3130AEB25 FEDERAL HOME LOAN BANK 3.25% 09JUN2028 3.250 06/09/2028 2,700,000.00 2,574 ,679.50 2,590,576 .39 2,599,044 .57 8,468.18 5,362.50 3.21 10 March 4, 2025, Item #6

SECURITIES HELD

CITY OF POWAY
As of December 31 , 2024 ... °' g, Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % w Call date shares gain accrued Port w (loss) interest cost Government Agencies
3133EP5U5 FEDERAL FARM CREDIT BANK 4.125% 20MAR2029 4.125 03/20/2029 2,000,000 .00 1,985,860 .00 1,988,032.96 1,977,062 .70 (10,970.26) 23,145 .83 2.47 Total Government Agencies 25,100,000.00 24,113,261.59 24,590,616.58 24,597,864.28 7,247.70 139,401.47 30.02 Government Bonds
912828ZL7 USA TREASURY 0.375% 30APR2025 0.375 04/30/2025 2,900,000.00 2,704,703.13 2,879,056.64 2,863,183.60 (15,873.04) 1,832.53 3.37 912828XZ8 USA TREASURY 2.75% 30JUN2025 2.750 06/30/2025 1,500,000.00 1,445,449 .22 1,486,764.49 1,489,242.18 2,477.69 0.00 1.80 91282CEY3 USA TREASURY 3% 15JUL2025 3.000 07/15/2025 400,000.00 395,532 .59 397,211.43 397,418.75 207.32 5,510.87 0.49 91282CAJO USA TREASURY 0.25% 31 AUG2025 0.250 08/31/2025 1,400,000.00 1,279,250 .00 1,374,813.52 1,363,496 .09 (11,317.43) 1,179.56 1.59 91282CAT8 USA TREASURY 0.25% 31 OCT2025 0.250 10/31/2025 1,200,000.00 1,086,046.88 1,170,110.66 1,161,318.74 (8,791.92) 505.53 1.35 9128285N6 USA TREASURY 2.875% 30NOV2025 2.875 11/30/2025 1,700,000.00 1,636,454.91 1,671,084.39 1,679,095 .30 8,010.91 4,162.43 2.04 91282CBC4 USA TREASURY 0.375% 31 DEC2025 0.375 12/31/2025 2,300,000.00 2,106, 124.89 2,243,252 .27 2,214,702.34 (28,549.93) 0.00 2.62 91282CBT7 USA TREASURY 0. 75% 31 MAR2026 0.750 03/31/2026 1,400,000.00 1,243,707 .82 1,344,443.01 1,340,937 .50 (3,505.51) 2,653 .85 1.55 91282CKS9 USA TREASURY 4.875% 31 MAY2026 4.875 05/31/2026 1,400,000.00 1,410,340.63 1,410,241.39 1,411,539.07 1,297.68 5,812.50 1.76 912828YU8 USA TREASURY 1.625% 30NOV2026 1.625 11/30/2026 1,600,000.00 1,468,130 .36 1,516,126.59 1,523,437.50 7,310.91 2,214 .29 1.83 11 March 4, 2025, Item #6

SECURITIES HELD

CITY OF POWAY
As of December 31, 2024 ....
-.J
g, Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % w Call date shares gain accrued Port w
(loss) interest cost
Government Bonds
91282CDQ1 USA TREASURY 1.25% 31 DEC2026 1.250 12/31/2026 2,350,000.00 2,088,287 .11 2,224,803.14 2,216,251 .96 (8,551.18) 0.00 2.60 91282CEF4 USA TREASURY 2.5% 31 MAR2027 2.500 03/31/2027 1,000,000.00 924,573 .66 951,490.51 962,812.50 11,321.99 6,318 .68 1.15 91282CET4 USA TREASURY 2.625% 31 MAY2027 2.625 05/31/2027 2,000,000.00 1,901,256. 70 1,928,164.45 1,925,156.24 (3,008.21) 4,471.15 2.37 91282CEW7 USA TREASURY 3.25% 30JUN2027 3.250 06/30/2027 740,000.00 699,620.45 713,070.45 722,569.53 9,499.08 0.00 0.87 91282CFB2 USA TREASURY 2.75% 31JUL2027 2.750 07/31/2027 1,800,000.00 1,671,756.03 1,712,013.24 1,733,343. 75 21,330.51 20,580 .16 2.08 91282CFUO USA TREASURY 4.125% 31 OCT2027 4.125 10/31/2027 2,100,000.00 2,077,858 .60 2,084,977 .55 2,091,468 .75 6,491.20 14,597 .03 2.59 9128283F5 USA TREASURY 2.25% 15NOV2027 2.250 11/15/2027 1,100,000.00 1,030,523.22 1,059,465.44 1,039,886.72 (19,578.72) 3,145 .03 1.28 91282CHE4 USA TREASURY 3.625% 31MAY2028 3.625 05/31/2028 2,100,000.00 2,074,577 .35 2,080,149.00 2,053,734.38 (26,414.62) 6,483 .17 2.58 91282CCH2 USA TREASURY 1.25% 30JUN2028 1.250 06/30/2028 1,700,000 .00 1,473,488.28 1,539,302.52 1,531,527.35 (7,775.17) 0.00 1.83 9128285M8 USA TREASURY 3.125% 15NOV2028 3.125 11/15/2028 2,200,000.00 2,059,929.24 2,080,674 .22 2,104,867 .18 24,192 .96 8,736.19 2.56 91282CKX8 USA TREASURY 4.25% 30JUN2029 4.250 06/30/2029 1,200,000.00 1,206,004.02 1,205,785.56 1,193,203.13 (12,582.43) 0.00 1.50 12 March 4, 2025, Item #6
...
00 SECURITIES HELD
As of December 31, 2024
o Cusip .... Description
w w
Government Bonds
91282CFJ5 USA TREASURY 3.125% 31 AUG2029
Total Government Bonds
Coupon Maturity/ Par value or Historical cost
Call date shares

3.125 08/31/2029 1,200,000.00 1,175,300.90
35,290,000.00 33,158,915.99
-

CITY OF POWAY
Amortized cost Fair value Unrealized Total %
gain accrued Port
(loss) interest cost
1,176,618.19 1,136,484.37 (40,133.82) 12,638.12 1.46
34,249,618.66 34,155,676.93 (93,941.73) 100,841.09 41.29 --~ .... ".
13 March 4, 2025, Item #6
GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE

CITY OF POWAY
As of December 31, 2024 ....

1.0 g, Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective w date rating w rating shares cost hist cost value mkt value dur (yrs) United States Treasury Note/Bond
912828ZL7 USA TREASURY 0.375% 0.375 04/30/2025 AA+ Aaa 2,900,000.00 2,704,703.13 3.37 2,863,183.60 3.49 0.32 912828XZ8 USA TREASURY 2.75% 2.750 06/30/2025 AA+ Aaa 1,500,000.00 1,445,449.22 1.80 1,489,242.18 1.81 0.49 91282CEY3 USA TREASURY 3% 3.000 07/15/2025 AA+ Aaa 400,000.00 395,532.59 0.49 397,418.75 0.48 0.52 91282CAJO USA TREASURY 0.25% 0.250 08/31/2025 AA+ Aaa 1,400,000.00 1,279,250.00 1.59 1,363,496.09 1.66 0.66 91282CAT8 USA TREASURY 0.25% 0.250 10/31/2025 AA+ Aaa 1,200,000.00 1,086,046.88 1.35 1,161,318.74 1.41 0.81 9128285N6 USA TREASURY 2.875% 2.875 11/30/2025 AA+ Aaa 1,700,000.00 1,636,454.91 2.04 1,679,095.30 2.04 0.89 91282CBC4 USA TREASURY 0.375% 0.375 12/31/2025 AA+ Aaa 2,300,000.00 2,106,124.89 2.62 2,214,702.34 2.70 1.00 91282CBT7 USA TREASURY 0.75% 0.750 03/31/2026 AA+ Aaa 1,400,000.00 1,243,707.82 1.55 1,340,937.50 1.63 1.21 91282CKS9 USA TREASURY 4.875% 4.875 05/31/2026 AA+ Aaa 1,400,000.00 1 ,410,340.63 1.76 1,411,539.07 1.72 1.35 912828YU8 USA TREASURY 1.625% 1.625 11/30/2026 AA+ Aaa 1,600,000.00 1 ,468, 130.36 1.83 1,523,437.50 1.85 1.85 91282CDQ1 USA TREASURY 1.25% 1.250 12/31/2026 AA+ Aaa 2,350,000.00 2,088,287.11 2.60 2,216,251.96 2.70 1.94 91282CEF4 USA TREASURY 2.5% 2.500 03/31/2027 AA+ Aaa 1,000,000.00 924,573.66 1.15 962,812.50 1.17 2.14 91282CET4 USA TREASURY 2.625% 2.625 05/31/2027 AA+ Aaa 2,000,000.00 1,901,256.70 2.37 1,925,156.24 2.34 2.30 91282CEW7 USA TREASURY 3.25% 3.250 06/30/2027 AA+ Aaa 740,000.00 699,620.45 0.87 722,569.53 0.88 2.36 91282CFB2 USA TREASURY 2.75% 2.750 07/31/2027 AA+ Aaa 1,800,000.00 1,671,756.03 2.08 1,733,343.75 2.11 2.42 91282CFUO USA TREASURY 4.125% 4.125 10/31/2027 AA+ Aaa 2,100,000.00 2,077,858.60 2.59 2,091,468.75 2.55 2.63 9128283F5 USA TREASURY 2.25% 2.250 11/15/2027 AA+ Aaa 1,100,000.00 1,030,523.22 1.28 1,039,886.72 1.27 2.73 91282CHE4 USA TREASURY 3.625% 3.625 05/31/2028 AA+ Aaa 2,100,000.00 2,074,577.35 2.58 2,053,734.38 2.50 3.16 91282CCH2 USA TREASURY 1.25% 1.250 06/30/2028 AA+ Aaa 1,700,000.00 1,473,488.28 1.83 1,531,527.35 1.86 3.36 9128285MB USA TREASURY 3.125% 3.125 11/15/2028 AA+ Aaa 2,200,000.00 2,059,929.24 2.56 2,104,867.18 2.56 3.58 91282CKX8 USA TREASURY 4.25% 4.250 06/30/2029 AA+ Aaa 1,200,000.00 1,206,004.02 1.50 1,193,203 .13 1.45 4.05 91282CFJ5 USA TREASURY 3.125% 3.125 08/31/2029 AA+ Aaa 1,200,000.00 1,175,300.90 1.46 1, 136,484.37 1.38 4.23 Issuer total 35,290,000.00 33,158,915.99 41.29 34,155,676.93 41.58 2.00 14 March 4, 2025, Item #6
GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE

CITY OF POWAY
As of December 31, 2024
N
0 !a, Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective w w date rating rating shares cost hist cost value mktvalue dur (yrs) Federal Home Loan Banks
3130AL2A1 FEDERAL HOME LOAN 0.500 02/10/2025 AA+ Aaa 1,000,000.00 1,002,860.00 1.25 995,780.24 1.21 0.11 3130ALHHO FEDERAL HOME LOAN 0.960 03/05/2026 02/05/2025 AA+ Aaa 2,300,000.00 2,092,540.00 2.61 2,213,641.90 2.70 1.14 3130AWLZ1 FEDERAL HOME LOAN 4.750 06/12/2026 AA+ Aaa 1,100,000.00 1,096,612.00 1.37 1,106,942 .97 1.35 1.38 3130APJH9 FEDERAL HOME LOAN 1.500 10/28/2026 01/28/2025 AA+ Aaa 2,050,000.00 1,860,110.55 2.32 1,964,549.87 2.39 1.77 3130AQF65 FEDERAL HOME LOAN 1.250 12/21/2026 AA+ Aaa 2,300,000.00 2,055,763.00 2.56 2,174,871.15 2.65 1.91 3130ATHWO FEDERAL HOME LOAN 4.125 09/10/2027 AA+ Aaa 2,000,000.00 1,993,260.00 2.48 1,990,228.74 2.42 2.49 3130ATU54 FEDERAL HOME LOAN 4.250 12/10/2027 AA+ Aaa 2,000,000.00 2,010,731.16 2.50 1,996,990.98 2.43 2.73 3130AEB25 FEDERAL HOME LOAN 3.250 06/09/2028 AA+ Aaa 2,700,000.00 2,574,679.50 3.21 2,599,044.57 3.16 3.20 Issuer total 15,450,000.00 14,686,556.21 18.29 15,042,050.42 18.31 2.04 Federal Farm Credit Banks Funding Corp
3133EPUW3 FEDERAL FARM CREDIT 4.750 09/01/2026 AA+ Aaa 2,000,000.00 1,987,080.00 2.47 2,015,403.30 2.45 1.57 3133EPK79 FEDERAL FARM CREDIT 4.375 12/07/2026 AA+ Aaa 1,200,000.00 1,196,508.00 1.49 1,201,207.76 1.46 1.83 3133EPCG8 FEDERAL FARM CREDIT 4.125 12/01/2027 AA+ Aaa 1,000,000.00 989,640.00 1.23 993,884.41 1.21 2.71 3133ENSN6 FEDERAL FARM CREDIT 4.000 01/06/2028 AA+ Aaa 1,100,000.00 1,105,292.88 1.38 1,089,288.65 1.33 2.75 3133EPSUS FEDERAL FARM CREDIT 4.125 03/20/2029 AA+ Aaa 2,000,000.00 1,985,860.00 2.47 1,977,062.70 2.41 3.79 Issuer total 7,300,000.00 7,264,380.88 9.05 7,276,846.82 8.86 2.55 Citibank NA
17325FBC1 CITIBANK NA 5.488% 5.488 12/04/2026 11/04/2026 A+ Aa3 1,400,000.00 1,420,132.00 1.77 1,420,666.24 1.73 1.76 17325FBB3 CITIBANK NA 5.803% 5.803 09/29/2028 08/29/2028 A+ Aa3 1,000,000 .00 1,027,800.00 1.28 1,031,125.31 1.26 3.26 Issuer total 2,400,000.00 2,447,932.00 3.05 2,451,791.55 2.99 2.39 Colgate-Palmolive Co
194162AR4 COLGATE-PALMOLIVE CO 4.600 03/01/2028 02/01/2028 A+ Aa3 2,400,000.00 2,391,240.00 2.98 2,416,029.74 2.94 2.84 Issuer total 2,400,000.00 2,391,240.00 2.98 2,416,029.74 2.94 2.84 15 March 4, 2025, Item #6
GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE

CITY OF POWAY
As of December 31, 2024
N ...
g, Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective w w date rating rating shares cost hist cost value mkt value dur (yrs) Apple Inc
037833EB2 APPLE INC 0.7% 0.700 02/08/2026 01/08/2026 AA+ Aaa 1,200,000.00 1,096,152.00 1.36 1,153,005.41 1.40 1.08 037833DB3 APPLE INC 2.9% 2.900 09/12/2027 06/12/2027 AA+ Aaa 1,300,000.00 1,234,987.00 1.54 1,250,365.49 1.52 2.49 Issuer total 2,500,000.00 2,331,139.00 2.90 2,403,370.90 2.93 1.83 Cisco Systems Inc
17275RBQ4 CISCO SYSTEMS INC 4.8% 4.800 02/26/2027 01/26/2027 AA- Al 1,250,000.00 1,253,775.00 1.56 1,259,047.95 1.53 1.96 17275RBR2 CISCO SYSTEMS INC 4.850 02/26/2029 01/26/2029 AA- Al 1,000,000.00 999,390.00 1.24 1,006,294 .54 1.23 3.64 Issuer total 2,250,000.00 2,253,165.00 2.81 2,265,342.49 2.76 2.71 American Honda Finance Corp
02665WEY3 AMERICAN HONDA 4.950 01/09/2026 A- A3 1,000,000.00 995 ,500.00 1.24 1,001,776.15 1.22 0.96 02665WBH3 AMERICAN HONDA 2.300 09/09/2026 A- A3 1,100,000 .00 1,034,869.00 1.29 1,058,955.48 1.29 1.62 Issuer total 2,100,000.00 2,030,369 .00 2.53 2,060,731.63 2.51 1.30 John Deere Capital Corp
24422ETC3 JOHN DEERE CAPITAL 3.400 09/11/2025 A Al 1,000,000.00 989,920.00 1.23 991,801.06 1.21 0.67 24422EWK1 JOHN DEERE CAPITAL 4.150 09/15/2027 A Al 1,000,000 .00 992 ,020.00 1.24 990,588.53 1.21 2.50 Issuer total 2,000,000.00 1,981,940.00 2.47 1,982,389.59 2.41 1.59 JPMorgan Chase & Co
46625HRY8 JPMORGAN CHASE & CO 3.782 02/01/2028 02/01/2027 A Al 2,000,000.00 1,909,600.00 2.38 1,957,737.76 2.38 1.95 Issuer total 2,000,000.00 1,909,600.00 2.38 1,957,737.76 2.38 1.95 US Bancorp
91159HHN3 US BANCORP 2.375% 2.375 07/22/2026 06/22/2026 A A3 1,000,000.00 944,140.00 1.18 966,615.34 1.18 1.48 91159HJF8 US BANCORP 4.548% 4.548 07/22/2028 07/22/2027 A A3 900,000.00 890,253.00 1.11 892,541.98 1.09 2.33 Issuer total 1,900,000.00 1,834,393.00 2.28 1,859,157.32 2.26 1.89 16 March 4, 2025, Item #6
GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE

CITY OF POWAY
As of December 31, 2024
N
N
g, Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective w date rating rating shares cost hist cost value mkt value dur (yrs) w Chevron Corp
166764BW9 CHEVRON CORP 1.554% 1.554 05/11/2025 04/11/2025 AA- Aa2 1,800,000.00 1,715,436.00 2.14 1,780,450.02 2.17 0.36 Issuer total 1,800,000.00 1,715,436.00 2.14 1,780,450.02 2.17 0.36 Bank of America Corp
06051 GFX2 BANK OF AMERICA CORP 3.500 04/19/2026 A- A1 1,800,000.00 1,736,028.00 2.16 1,773,021.71 2.16 1.24 Issuer total 1,800,000.00 1,736,028.00 2.16 1,773,021.71 2.16 1.24 Federal National Mortgage Association
3136G4K85 FANNIE MAE 0.5% 0.500 08/18/2025 AA+ Aaa 1,350,000.00 1,266,394.50 1.58 1,318,762.15 1.61 0.62 Issuer total 1,350,000.00 1,266,394.50 1.58 1,318,762.15 1.61 0.62 Pfizer Inc
717081 ET6 PFIZER INC 3.45% 3.450 03/15/2029 12/15/2028 A A2 1,300,000.00 1 ,222, 104.00 1.52 1,239,674.37 1.51 3.76 Issuer total 1,300,000.00 1,222,104.00 1.52 1,239,674.37 1.51 3.76 Toyota Motor Credit Corp
89236TKQ7 TOYOTA MOTOR CREDIT 4.625 01/12/2028 A+ A1 1,100,000.00 1,091,585.00 1.36 1,097,524.31 1.34 2.74 Issuer total 1,100,000.00 1,091,585.00 1.36 1,097,524.31 1.34 2.74 Federal Home Loan Mortgage Corp
3134A2HG6 FREDDIE MAC 0% 0.000 12/11/2025 AA+ Aaa 1,000,000.00 895,930.00 1.12 960,204.89 1.17 0.95 Issuer total 1,000,000.00 895,930.00 1.12 960,204.89 1.17 0.95 Cash and Cash Equivalents
CASH 0.000 96,248.53 96,248.53 0.00 96,248.53 0.12 0.00 Issuer total 96,248.53 96,248.53 0.00 96,248.53 0.12 0.00 ~
1'!'¥1~1
17 March 4, 2025, Item #6

SECURITIES PURCHASED

CITY OF POWAY
For the period December 1, 2024 - December 31, 2024
N
w
S, Cusip Description / Broker Trade date Coupon Maturity/ Par value or Unit cost Principal Accrued w Settle date Call date shares cost interest w
Government Bonds
91282CKS9 USA TREASURY 4.875% 31 MAY2026 12/26/2024 4.875 05/31/2026 1,400,000 .00 100.74 (1,410,340.63) (5,812.50) MORGAN STANLEY AND CO., LLC 12/31/2024
-
Total Government Bonds 1,400,000.00 (1,410,340.63) (5,812.50) ,;;;;;;;;;;;iii'----------------------------------------------------,~ ~ ~ I 18 March 4, 2025, Item #6

SECURITIES SOLD AND MATURED

CITY OF POWAY
For the period December 1, 2024 - December 31, 2024
IV
.i:,.
g, Cusip Description I Broker Trade date Coupon Maturity/ Par value or Historical cost Amortized cost Price Fair value at Realized Accrued w Settle date Call date shares at sale or sale or gain interest w maturity maturity (loss) sold Government Bonds
912828YYO USA TREASURY 1.75% 31DEC2024 12/31/2024 1.750 (1,000,000.00) 1,046,643.98 1,000,000.00 0.00 1,000,000.00 0.00 0.00 12/31/2024
---------------------
Total (Government Bonds) (1 ,000,000.00) 1,046,643.98 1,000,000.00 1 ,000,000.00 0.00 0.00 W [d•1•t•B11•tmt•D \H!~t«;t@t2:1
19 March 4, 2025, Item #6

DETAIL OF RETURN AND INTEREST RECEIVED

CITY OF POWAY
For the period December 1, 2024 - December 31, 2024
N u,
g, Cusip Description Accretion Realized gain Change in fair Interest earned Interest received w (amortization) (loss) value w
--
Cash
Cash and Cash Equivalents 0.00 0.00 0.00 281 .17 281.17 Total Cash 0.00 0.00 0.00 281.17 281.17
- --- - - - - ---------
Corporate Bonds
02665WBH3 AMERICAN HONDA FINANCE 2.3% 09SEP2026 1,582.13 0.00 507.15 2,178.61 0.00 02665WEY3 AMERICAN HONDA FINANCE 4.95% 09JAN2026 242.81 0.00 (1 ,800.37) 4,262.50 0.00 037833EB2 APPLE INC 0.7% 08FEB2026 (CALLABLE 08JAN26) 3,109.22 0.00 3,666.22 723.34 0.00 037833DB3 APPLE INC 2. 9% 12SEP2027 (CALLABLE 12JUN27) 1,158.19 0.00 (3,177.55) 3,246.39 0.00 06051GFX2 BANK OF AMERICA CORP 3.5% 19APR2026 1,854.26 0.00 (314.58) 5,425.00 0.00 166764BW9 CHEVRON CORP 1.554% 11 MAY2025 (CALLABLE 11 APR25) 2,344.66 0.00 4,602.02 2,408.70 0.00 17275RBQ4 CISCO SYSTEMS INC 4.8% 26FEB2027 (CALLABLE 26JAN27) (110.81) 0.00 (2,674.15) 5,166.66 0.00 17275RBR2 CISCO SYSTEMS INC 4.85% 26FEB2029 (CALLABLE 26JAN29) 10.59 0.00 (9,735.92) 4,176.39 0.00 17325FBC1 CITIBANK NA 5.488% 04DEC2026 (CALLABLE 04NOV26) (600.36) 0.00 {3,091.79) 6,616.09 38,416.00 17325FBB3 CITIBANK NA 5.803% 29SEP2028 (CALLABLE 29AUG28) (489.43) 0.00 (1 0,322.20) 4,997.03 0.00 194162AR4 COLGATE-PALMOLIVE CO 4.6% 01 MAR2028 (CALLABLE 01 FEB28) 145.92 0.00 (30,402.60) 9,506.67 0.00 24422ETC3 JOHN DEERE CAPITAL CORP 3.4% 11 SEP2025 276.67 0.00 632.72 2,927.78 0.00 24422EWK1 JOHN DEERE CAPITAL CORP 4.15% 15SEP2027 141 .91 0.00 (3,459.97) 3,573.61 0.00 46625HRY8 JPMORGAN CHASE & CO 3.782% 01 FEB2028 (CALLABLE 01 FEB27) 1,804.39 0.00 (3,491.80) 6,513.45 0.00 717081ET6 PFIZER INC 3.45% 15MAR2029 (CALLABLE 15DEC28) 1,337.66 0.00 (9,806.49) 3,862.08 0.00 89236TKQ7 TOY OT A MOTOR CREDIT CORP 4.625% 12JAN2028 144.83 0.00 (7,762.32) 4,380.91 0.00 91159HHN3 US BANCORP 2.375% 22JUL2026 (CALLABLE 22JUN26) 1,878.70 0.00 82.65 2,045.14 0.00 20 March 4, 2025, Item #6

DETAIL OF RETURN AND INTEREST RECEIVED

CITY OF POWAY
For the period December 1, 2024 - December 31, 2024
N
O'I
g, Cusip Description Accretion Realized gain Change in fair Interest earned Interest received w (amortization) (loss) value w
Corporate Bonds
91159HJF8 US BANCORP 4.548% 22JUL2028 (CALLABLE 22JUL27) 181.39 0.00 (3,083.87) 3,524.70 0.00 - - - - - - - ---- ----· ,----
Total Corporate Bonds 15,012.73 0.00 (79,632.85) 75,535.05 38,416.00 Government Agencies
3136G4K85 FANNIE MAE 0.5% 18AUG2025 CALLABLE #0000 4,705.75 0.00 5,602.45 581.25 0.00 3133EN5N6 FEDERAL FARM CREDIT BANK 4% 06JAN2028 (89.66) 0.00 (4,381.13) 3,788.89 0.00 3133EPCG8 FEDERAL FARM CREDIT BANK 4.125% 01 DEC2027 182.29 0.00 (4,190.92) 3,552.08 20,625.00 3133EP5U5 FEDERAL FARM CREDIT BANK 4.125% 20MAR2029 236.19 0.00 (19,697.66) 7,104.16 0.00 3133EPK79 FEDERAL FARM CREDIT BANK 4.375% 07DEC2026 96.64 0.00 (1,469.79) 4,520.83 26,250.00 3133EPUW3 FEDERAL FARM CREDIT BANK 4.75% 01 SEP2026 374.13 0.00 (1 ,225.36) 8,180.56 0.00 3130AL2A1 FEDERAL HOME LOAN BANK 0.5% 1 OFEB2025 CALLABLE 0.00 0.00 3,622.88 430.55 0.00 3130ALHHO FEDERAL HOME LOAN BANK 0.96% 05MAR2026 (CALLABLE 05FEB25) 6,040.50 0.00 7,432.47 1,901.34 0.00 3130AQF65 FEDERAL HOME LOAN BANK 1.25% 21 DEC2026 5,008.27 0.00 2,236.25 2,475.69 14,375.00 3130APJH9 FEDERAL HOME LOAN BANK 1.5% 280CT2026 (CALLABLE 28JAN25) #0006 4,182.59 0.00 87.33 2,647.92 0.00 3130AEB25 FEDERAL HOME LOAN BANK 3.25% 09JUN2028 2,649.48 0.00 (25,962.80) 7,556.25 43,875.00 3130ATHWO FEDERAL HOME LOAN BANK 4.125% 1 OSEP2027 114.24 0.00 (7,890.20) 7,104.17 0.00 3130ATUS4 FEDERAL HOME LOAN BANK 4.25% 1 ODEC2027 (185.44) 0.00 (10,788.02) 7,319.44 42,500.00 3130AWLZ1 FEDERAL HOME LOAN BANK 4.75% 12JUN2026 101 .94 0.00 (505.64) 4,499.31 26,125.00 3134A2HG6 FREDDIE MAC 0% 11 DEC2025 3,549.84 0.00 3,160.40 0.00 0.00 -- - - - - - - --- -- ------ --· - -- -~
Total Government Agencies 26,966.76 0.00 (53,969.74) 61,662.44 173,750.00 21 March 4, 2025, Item #6

DETAIL OF RETURN AND INTEREST RECEIVED

CITY OF POWAY
For the period December 1, 2024 - December 31, 2024
N ......
2, Cusip Description Accretion Realized gain Change in fair Interest earned Interest received w (amortization) (loss) value w
Government Bonds
91282CAJO USA TREASURY 0.25% 31 AUG2025 3,213.09 0.00 6,152.34 299.73 0.00 91282CAT8 USA TREASURY 0.25% 31 OCT2025 3,047.93 0.00 5,371.87 256.91 0.00 912828ZL7 USA TREASURY 0.375% 30APR2025 5,410.37 0.00 10,920.33 931 .29 0.00 91282CBC4 USA TREASURY 0.375% 31 DEC2025 4,819.67 0.00 10,385.93 726.56 4,312.50 91282CBT7 USA TREASURY 0.75% 31 MAR2026 3,785.20 0.00 4,484.37 894.23 0.00 91282CCH2 USA TREASURY 1.25% 30JUN2028 3,901.04 0.00 (7,238.28) 1,790.08 10,625.00 91282CDQ1 USA TREASURY 1.25% 31 DEC2026 5,316.58 0.00 1,744.15 2,474.52 14,687.50 912828YU8 USA TREASURY 1.625% 30NOV2026 3,719.71 0.00 937.50 2,214.29 13,000.00 912828YYO USA TREASURY 1.75% 31 DEC2024 (1,111.42) 0.00 2,286.23 1,474.18 8,750.00 9128283F5 USA TREASURY 2.25% 15NOV2027 1,197.88 0.00 (3,265.62) 2,119.48 0.00 91282CEF4 USA TREASURY 2.5% 31 MAR2027 1,833.89 0.00 (1,015.62) 2,129.12 0.00 91282CET4 USA TREASURY 2.625% 31 MAY2027 2,527.69 0.00 (3,281.26) 4,471.15 26,250.00 912828XZ8 USA TREASURY 2.75% 30JUN2025 2,266.86 0.00 2,982.42 3,474.86 20,625.00 91282CFB2 USA TREASURY 2.75% 31JUL2027 2,895.53 0.00 (3,867.19) 4,169.83 0.00 9128285N6 USA TREASURY 2.875% 30NOV2025 2,683.79 0.00 3,625.77 4,162.43 24,437.50 91282CEY3 USA TREASURY 3% 15JUL2025 441.05 0.00 711.72 1,010.87 0.00 9128285MB USA TREASURY 3.125% 15NOV2028 2,614.21 0.00 (16,757.82) 5,887.43 0.00 91282CFJ5 USA TREASURY 3.125% 31AUG2029 425.38 0.00 (12,937.50) 3,211.32 0.00 91282CEW7 USA TREASURY 3.25% 30JUN2027 916.38 0.00 (1,676.57) 2,025.95 12,025.00 91282CHE4 USA TREASURY 3.625% 31 MAY2028 493.49 0.00 (12,632.82) 6,483.17 38,062.50 22 March 4, 2025, Item #6

DETAIL OF RETURN AND INTEREST RECEIVED
N
00 For the period December 1, 2024 - December 31, 2024
2, Cusip
w
Description
w
Government Bonds
91282CFUO
91282CKX8
91282CKS9
USA TREASURY 4.12S% 31 OCT2027
USA TREASURY 4.25% 30JUN2029
USA TREASURY 4.875% 31 MAY2026
Total Government Bonds
Accretion
(amortization)
450.38
(109.23)
(99.24)
50,640.23
Realized gain
(loss)

0.00 0.00

0.00 0.00
Change in fair
value
(9,351 .55)
(1 3,875.00)
1,198.44
(35,098.16)

CITY OF POWAY
Interest earned Interest received
7,418.16
4,296.20

0.00 61,921.76

0.00 25,500.00

0.00 198,275.00
::21.1.,Ea, tft'Mll cmm ~ mmm ~
23 March 4, 2025, Item #6

TRANSACTION REPORT

CITY OF POWAY
For the period December 1, 2024 - December 31, 2024
N
\0
g, Trade date Cusip Transaction Sec type Description Maturity Par value or Realized Principal Interest Transaction total w Settle date shares gain(loss) w
11/30/2024 9128285N6 Income Government Bonds USA TREASURY 2.875% 11/30/2025 1,700,000.00 0.00 0.00 24,437.50 24,437.50 11/30/2024
11/30/2024 912828YU8 Income Government Bonds USA TREASURY 1.625% 11/30/2026 1,600,000.00 0.00 0.00 13,000.00 13,000.00 11/30/2024
11/30/2024 91282CET4 Income Government Bonds USA TREASURY 2.625% 05/31/2027 2,000,000 .00 0.00 0.00 26,250 .00 26,250.00 11/30/2024
11/30/2024 91282CHE4 Income Government Bonds USA TREASURY 3.625% 05/31/2028 2,100,000.00 0.00 0.00 38,062.50 38,062.50 11/30/2024
12/01/2024 3133EPCG8 Income Government Agencies FEDERAL FARM CREDIT BANK 12/01/2027 1,000,000.00 0.00 0.00 20,625 .00 20,625.00 12/01/2024
12/04/2024 17325FBC1 Income Corporate Bonds CITIBANK NA 5.488% 12/04/2026 1,400,000.00 0.00 0.00 38,416 .00 38,416.00 12/04/2024
12/07/2024 3133EPK79 Income Government Agencies FEDERAL FARM CREDIT BANK 12/07/2026 1,200,000.00 0.00 0.00 26,250 .00 26,250.00 12/07/2024
12/09/2024 3130AEB25 Income Government Agencies FEDERAL HOME LOAN BANK 06/09/2028 2,700,000.00 0.00 0.00 43,875 .00 43,875 .00 12/09/2024
12/10/2024 3130ATUS4 Income Government Agencies FEDERAL HOME LOAN BANK 12/10/2027 2,000 ,000.00 0.00 0.00 42,500 .00 42,500.00 12/10/2024
12/12/2024 3130AWLZ1 Income Government Agencies
FEDERAL HOME LOAN BANK 06/12/2026 1,100,000.00 0.00 0.00 26,125.00 26,125.00 12/12/2024
12/21/2024 3130AQF65 Income Government Agencies FEDERAL HOME LOAN BANK 12/21/2026 2,300 ,000.00 0.00 0.00 14,375.00 14,375.00 12/21/2024
12/26/2024 91282CKS9 Bought Government Bonds USA TREASURY 4.875% 05/31/2026 1,400,000.00 0.00 (1,410,340.63) (5,812.50) (1,416,153.13) 12/31/2024
12/31/20 24 912828 X
Z8 Income Government Bonds USA TREASURY 2.75% 06/30/2025 1,500,000.00 0.00 0.00 20,625.00 20,625.00 12/31/2024
12/31/2024 912828YYO Income Government Bonds USA TREASURY 1.75% 12/31/2024 1,000,000.00 0.00 0.00 8,750.00 8,750.00 12/31/2024
12/31/2024 912828YYO Capital Change Government Bonds USA TREASURY 1.75% 12/31/2024 (1 ,000,000 .00) 0.00 1,000,000.00 0.00 1,000,000 .00 12/31/2024
12/31/2024 91282CBC4 Income Government Bonds USA TREASURY 0.375% 12/31/2025 2,300,000.00 0.00 0.00 4,312.50 4,312.50 12/31/2024
12/31/2024 91282CCH2 Income Government Bonds USA TREASURY 1.25% 06/30/2028 1,700,000.00 0.00 0.00 10,625.00 10,625.00 12/31/2024
24 March 4, 2025, Item #6

TRANSACTION REPORT

CITY OF POWAY
For the period December 1, 2024 - December 31, 2024
w
0 !a, Trade date Cusip Transaction Sec type Description Maturity Par value or Realized Principal Interest Transaction total w Settle date shares gain(loss) w
12/31/2024 91282CDQ1 Income Government Bonds USA TREASURY 1.25% 12/31/2026 2,350,000.00 0.00 0.00 14,687.50 14,687.50 12/31/2024
12/31/2024 91282CEW7 Income Government Bonds USA TREASURY 3.25% 06/30/2027 740,000.00 0.00 0.00 12,025.00 12,025.00 12/31/2024
12/31/2024 91282CKX8 Income Government Bonds USA TREASURY 4.25% 06/30/2029 1,200,000.00 0.00 0.00 25,500.00 25,500.00 12/31/2024
12/31/2024 Income Cash and Cash Equivalents Cash 0.00 0.00 0.00 281.17 281.17 25 March 4, 2025, Item #6

ADDITIONAL INFORMATION
As of December 31 , 2024

CITY OF POWAY
w
-" Past performance is not indicative of future results. Investment in any strategy involves a risk of loss which may partly be due to exchange rate fluctuations. 0 ~ The performance results shown, whether net or gross of investment management fees, reflect the reinvestment of dividends and/or income and other earnings. Any gross of fees performance does not include fees and W charges and these can have a material detrimental effect on the performance of an investment. The performance shown is for the stated time period(s) only.

Any target performance aims are not a guarantee, may not be achieved and a capital loss may occur. Funds which have a higher performance aim generally take more risk to achieve this and so have a greater potential for the returns to be significantly different than expected. Investments are subject to risks, including loss of principal. There can be no guarantee that any investment strategy will meet the liability funding needs of a particular client.

Performance information for certain accounts may reflect performance achieved while the account was managed at a prior firm. In addition, the performance and customized benchmark information for these periods are based on Information from 3rd parties that Insight believes to be accurate, but Insight has not independently verified such information and no representation is made regarding its accuracy or completeness.

The quoted benchmarks do not reflect deductions for fees, expenses or taxes. These benchmarks are unmanaged and cannot be purchased directly by investors. Benchmark performance is shown for illustrative purposes only and does not predict or depict the performance of any investment. There may be material factors relevant to any such comparison such as differences in volatility, and regulatory and legal restrictions between the indices shown and the strategy.

Any currency conversions performed for this presentation, use FX rates as per WM Reuters 4pm spot rates, unless noted otherwise.

Funds and portfolios with an ESG objective follow a sustainable or ESG related investment approach, which may cause them to perform differently than funds that are not required to integrate sustainable investment criteria when selecting securities. Funds and portfolios with no ESG objective are not required to integrate sustainable investment criteria when selecting securities so any ESG approach shown is only indicative and there is no guarantee that the specific approach will be applied across the whole portfolio.

This is a client report intended for professional clients only. This material is for professional clients only and is not intended for distribution to retail clients. This document must not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or otherwise not permitted. This document is intended only for the parties to whom it was delivered or its authorised agents and should not be copied or passed to any other person. Please contact the Client Services Team if there has been any change in your financial circumstances or risk tolerance since the previous valuation that could affect the investment objective of your portfolio. Insight obtains market data and prices from an independent pricing source for all of our currency positions on a daily basis. For trading activity the Clearing broker will be reflected. In certain cases the Clearing broker will differ from the Executing broker .

Some information contained in this client report comes from external sources which Insight believes to be reliable. A list of sources is available on request. All statistics represent month end figures unless otherwise noted. It should not be assumed that any of the security transactions or holdings referenced herein have been or will prove to be profitable or that future investment decisions will be profitable or will equal or exceed the past investment performance of the securities listed. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. Insight does not provide tax or legal advice to its clients and all investors are strongly urged to seek professional advice regarding any potential strategy or investment. Material in this publication is for general information only and is not advice, investment advice, or the recommendation of any purchase or sale of any security.

Insight Investment is the corporate brand for certain companies operated by Insight Investment Management Limited (IIML). Insight includes, among others, Insight Investment Management (Global) Limited (IIMG). Insight Investment International Limited (IIIL) and Insight North America LLC (INA). each of which provides asset management services. This group of companies may be referred to as 'Insight' or 'Insight Investment'.

Please compare the information provided in this statement to the information provided in the statement received from your Custodian. This report is not intended to replace your custodial statement which is your official record for all pertinent account information. Please notify us promptly if you do not receive from your custodian on at least a quarterly basis account statements that contain the amount of funds and each security in the account at the end of the period and all transactions in the account during that period.

For clients based in North America:

This material is for professional clients only and is not intended for distribution to retail clients.

Investment advisory services in North America are provided through two different investment advisers registered with the Securities and Exchange Commission (SEC). using the brand Insight Investment: Insight North America LLC (INA) and Insight Investment International Limited (IIIL). The North American investment advisers are associated with other global investment managers that also (individually and collectively) use the corporate brand Insight Investment and may be referred to as 'Insight' or 'Insight Investment'. INA is registered with the CFTC as a Commodity Trading Advisor and a Commodity Pool Operator and are members of the NFA.

Information about the indices shown here is provided to allow for comparison of the performance of the strategy to that of certain well-known and widely recognized indices. There is no representation that such index is an appropriate benchmark for such comparison. You cannot invest directly in an index and the indices represented do not take into account trading commissions and/or other brokerage or custodial costs. The volatility of the indices may be materially different from that of the strategy. In addition, the strategy's holdings may differ substantially from the securities that comprise the indices shown.

The ICE BofA 3 Month UST-Bill index is an unmanaged market index of U.S. Treasury securities maturing in 90 days that assumes reinvestment of all income.

The ICE BofA 6 Month UST-Bill index measures the performance ofTreasury bills with time to maturity of less than 6 months. 26 March 4, 2025, Item #6
w N

ADDITIONAL INFORMATION
As of December 31 , 2024

CITY OF POWAY
o The ICE BofA 1-Year US Treasury Index is a one-security index comprised of the most recently issued 1-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 1-year note must be auctioned :; on or before the third business day before the last business day of the month. w
The ICE BofA 3-Year US Treasury Index is a one-security index comprised of the most recently issued 3-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 3-year note must be auctioned on or before the third business day before the last business day of the month.

The ICE BofA 5-Year US Treasury Index is a one-security index comprised of the most recently issued 5-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 5-year note must be auctioned on or before the third business day before the last business day of the month.

The ICE BofA 1-3 US Year Treasury Index is an unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than three years.

The ICE BofA 1-5 US Year Treasury Index is an unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than five years. © 2024 Insight Investment. All rights reserved.
27 March 4, 2025, Item #6
City of Poway Investments & Cash with Fiscal Agent; Non-Managed Investments; General, Payroll & Petty Cash ~ I I December 2024
0 .... ~, Part I
Investments 8: Cash with Fiscal Agents
Settlement Yield to Days to % of Total Face
I
Book
I
I Market
I
Unrealized
INVESTMENT DESCRIPTION Date Maturity Maturity Investment Value Value I
Value Gain(Loss)
1st Arn Gov't Obligations Money Mkt Fd 12131124 I Various! 1 I 100.00%1 s1,311,947.91 I s1,311,947. 91 I s1,311,947.91 1 so .oo I I I I
J 1 -•- -1 I
r ~~ -
I - I
I
I
Average/Total I Various! 1 I 100.00%1 s1,311,947 .91 I s1,311,947 .91 I s1,311,947.91 1 so .oo I - so.oo I Paying Agent or Uninvested Cash 6: DITs
.--,---,.-:-:c:---:-- - _-::"·-
- s1,311,947.91 1 Total Investments and Cash with Fiscal Agent I I - --- -- -- --------)>
-I -I ·· ··· · · Part II
)>
n Non-Mana ed Investments :I:

I' I
I
I
s: Settlement Yield to Days to % of Total Face Book I Market Unrealized m INVESTMENT DESCRIPTION Date Maturity Maturity Investment Value Value Value Gain(Loss) z -I County Pool 12/31/24 1 3.75%1 1 I 100.00%1 $55,240 .00 1 $55,240 .00 1 I•
$54,536.oo I ($704.00)1 C

I I, I I I I
Average/Total I 3.75%1 N/A I I 100.00%1 $55,240.00 I $55,240.00 I $54,536.oo I ($704.00)1 - - --
Part Ill
General, PaJlroll 8: Petti£ Cash
Book
Value
General Cash (Union Bank) $2,907,154.51
·-- - -~ -- - ------- ------ -- ---- ---- I Payroll Cash (Union Bank) $20,000.00 -- - -- -.

Emergency Cash (Union Bank) $10,000.00
- - _.,_ -- -- I Grant Cash (Union Bank) $0.00
-- -- -~ .. _ .. _________
- I Flexible Benefits Cash (Union Bank) $30,000.00
Petty Cash $8,600.00
- - ----- --
I Total Cash $2,975,754.51
March 4, 2025, Item #7
DATE:

TO:

FROM:

CONTACT:

SUBJECT:

Summary:

March 4, 2025
Honorable Mayor and Members of the City Council
Audrey Denham, Director of Community ;ervicescp&)
Karen Tansey, Management Analyst ."d)')
(858) 668-4584 or [email protected] • •
Approval of a Three-Year Agreement with San Diego Ice to Provide Snow for the Annual Winter Festival Event
Since 2019, the City of Poway has contracted with San Diego Ice Company to provide snow for the annual Winter Festival. The contracts are secured each year and there have been two price increases in this long-standing history. The City has the opportunity to enter into a three-year contract and lock down the price, which is ideal for budgeting purposes, to help control rising costs, and gain operation efficiencies in reduced annual staff time to process one-year agreements. The City purchasing/procurement procedures requires any contract over $10,000 go through a formal or informal bidding process. Staff is recommending it is in the City's best interest to waive the bidding process, make findings that waiving bidding requirements is in the publics best interest, and execute the three-year agreement with San Diego Ice Company to provide snow for the annual Winter Festival event.

Recommended Action:

It is recommended the City Council approve the three-year Agreement and authorize the City Manager to execute all necessary documents associated with the Agreement between the City of Poway and San Diego Ice Company to provide snow for the annual Winter Festival event.

Discussion:

Background
The City of Poway holds two community-wide winter events each year. Christmas in the Park in December and Winter Festival in January. Over the years, Winter Festival has had several names, different family-friendly activities, but one attraction has remained -snow.

After 11 years in its current format, Winter Festival remains the largest community-wide event hosted by the City of Poway, drawing an estimated 10,000 people each year. In January 2025, the event 1 of 19
March 4, 2025, Item #7
footprint
was
expanded
to
include
a
nod
to
the
original
Candy
Land
event
introducing
a
life-size,
Winter-themed
board
game
where
participants
traveled
along
the
game
path
to
encounter
Frozen
characters
Elsa
, Anna,
Kristoff,
and
Hans.

Five
additional
air
bounces
were
added
to
create
an
air
bounce
alley
on
the
joint
-use
field
at
Valley
Elementary
School.

A
magical
light
walk
illuminated
the
way
lead
ing
to
the
Winter
Wonderland
board
game,
and
the
snow
hill
and
skate
line
queues
were
reworked
to
enhance
line
management.

Every
20 minutes
, artificial
snow
cascaded
from
the
rooftop
of
the
Mickey
Cafagna
Community
Center
main
courtyard
and
real
snow
was
blown
for
sledding
down
snow
hill
as
well
as
2 snow
play
areas
for
both
big
and
small
participants.

Ice
skating
continued
to
be
a favorite
along
with
campfires,
s'mores,
arts
and
crafts
, a
photobooth,
music,
twinkling
lights,
and
a
variety
of
vendors
and
food
choices
. The
Special
Needs
portion
of
the
event
took
place
one
hour
prior
to opening
to
the
public
on
Saturday
and
fresh
snow
was
blown
pr
ior
to
their
arrival.

The
largest
single
expense
of
the
Winter
Festival
event
is
snow.

The
City
of
Poway
purchasing/procurement
procedures
require
purchases
or
contract
services
over
$10,000
to
obtain
proposals
or
quotes.

Since
2017,
the
City
has
ordered
115
tons
of
snow
delivered
over
two
days.

Each
year
, staff
contacts
numerous
companies
reaching
as
far
as
San
Luis
Obispo
County
and
Los
Angeles
.

Since
2019
, San
Diego
Ice
Company
has
provided
the
lowest
cost
per
ton
and
sometimes
the
only
company
who
would
provide
a quote
. Repeatedly
, emails
are
sent
stating
companies
refuse
to
prov
ide
a
quote
because
they
have
not
been
selected
in
the
past
due
to
cost.

San
Diego
Ice
Company
has
proven
to
be
highly
responsive,
easy
to
work
with,
and
flexible.

During
the
City's
long
history
with
San
Diego
Ice
Company,
there
have
been
two
large
cost
increases
.

Year
Cost
per
ton
2019
$130
.00
2020
$130
.00
2021
Covid
-
no
event
2022
$150.00
2023
$175
.00
2024
$175
.00
2025
$175
.00
To
streamline
the
purchase
of
snow
each
year,
staff
approached
San
Diego
Ice
Company
about
entering
into
a three-year
contract.

They
proposed
the
following
:

Year
Cost
per
ton
2026
$175.00
2027
$180.00
2028
$185.00
For
the
first
year
of
the
contract,
they
proposed
the
same
cost
the
City
has
paid
since
2023.

The
two
subsequent
years
would
be
increased
by
a
little
less
than
3%
each
year
. The
two
previous
noted
adjustments,
when
averaged,
result
in
an
annual
increase
of
almost
7%.

After
evaluation
of
current
trends
and
pricing,
staff
is
recommending
it
is
in
the
best
interest
of
the
City
to
waive
the
bidding
requirement
based
on
the
following
reasons
:
2 of19

1. The
rising
costs
of
goods
.

The
year
-over-year
inflation
rate
for
November
2023
to
November
2024
for
San
Diego
Area
was

2.6%
. This
has
cooled
a bit
from
the
previous
year
March 4, 2025, Item #7
of

5.2%.

Moving
forward
with
a three-year contract
locks
down
the
price
and
allows
staff
to
budget
appropriately.

2. The
requirement
to
bid
this
purchase
will
not
likely
result
in
a lower
price
given
the
lack
of
historical
response
from
ice
companies.

Based
on
the
long-standing
relationship
with
San
Diego
Ice
Company,
the
m
inimal
price
increases,
and
the
quality
of
the
product
, staff
recommends
the
three-year
contract.

Environmental
Review:

This
action
is
not
subject
to
review
under
the
California
Environmental
Quality
Act
(CEQA).

Fiscal
Impact:

Sufficient
funds
will
be
budgeted
in
future
year
budgets
in
the
appropriate
fiscal
year
through
the
annual
budgeting
process
for
account
#208020-41200
in
the
Community
Park
Division,
Other
Contractual
Services.

Public
Notification:

None. Attachments: A.

Standard
Agreement
for
Services
Between
the
City
of
Poway
and
San
Diego
Ice
Company
Reviewed/Approved
By:

Wendy
Kaserman
Assistant
City
Manager
3 of
19 Reviewed
By:

Alan
Fenstermacher
City
Attorney
Approved
By
:

Ch,
J;l
City
Manager
March 4, 2025, Item #7
City
of
Poway

STANDARD

AGREEMENT
FOR

SERVICES
This
Agreement,
entered
into
this
5th
day
of
March
2025
, by
and
between
the
CITY
OF
POWAY
(hereinafter
referred
to
as
"City")
and
San
Diego
Ice
Company
(hereinafter
referred
to
as
"Vendor").

RECITALS

WHEREAS,
City
desires
to
obtain
the
services
of
an
ice
company
to
blow
snow
for
the
annual
Winter
Festival
event;

WHEREAS,
Vendor
is
a
local
San
Diego
ice
company
that
has
represented
they
possesses
the
necessary
qualifications
to
provide
such
services;
and

WHEREAS,
City
has
authorized
the
preparation
of
an
agreement
to
retain
the
services
of
Vendor
as
hereinafter
set
forth.

NOW,

THEREFORE,
IT
IS

MUTUALLY
AGREED
THAT
CITY
DOES
HEREBY
RETAIN
VENDOR
ON
THE

FOLLOWING
TERMS
AND
CONDITIONS:

1. Scope
of
Services.

Vendor
shall
provide
services
as
described
in
Exhibit
"A"
entitled
"Special
Provisions"
attached
hereto
and
made
a
part
hereof.

2. Compensation
and
Reimbursement.

City
shall
compensate
and
reimburse
Vendor
as
provided
in
Exhibit
"A"
entitled
"Special
Provisions"
attached
hereto
and
made
a
part
hereof.

3. Term
of
Agreement.

The
term
of
this
Agreement
shall
be
as
described
on
Exhibit
"A"
entitled
"Special
Provisions"
attached
hereto
and
made
a
part
hereof.

4. Termination. This
Agreement
may
be
terminated
with
or
without
cause
by
City.

Termination
without
cause
shall
be
effective
only
upon
60-day
written
notice
to
Vendor.

During
said
60-day
period
Vendor
shall
perform
all
consulting
services
in
accordance
with
this
Agreement. This
Agreement
may
be
terminated
by
City
for
cause
in
the
event
of
a
material
breach
of
this
Agreement,
misrepresentation
by
Vendor
in
connection
with
the
formation
of
this
Agreement
or
the
performance
of
services,
or
the
failure
to
perform
services
as
directed
by
City.

Termination
for
cause
shall
be
effected
by
delivery
of
written
notice
of
termination
to
Vendor.

Such
termination
shall
be
effective
upon
delivery
of
said
notice.
4 of
19 ATTACHMENT
A
March 4, 2025, Item #7

5. Confidential Relationship.

City may from time to time communicate to Vendor certain information to enable Vendor to effectively perform the services. Vendor shall treat all such information as confidential, whether or not so identified, and shall not disclose any part thereof without the prior written consent of the City. Vendor shall limit the use and circulation of such information, even within its own organization, to the extent necessary to perform the services. The foregoing obligation of this Paragraph 5, however, shall not apply to any part of the information that (i) has been disclosed in publicly available sources of information; (ii) is, through no fault of Vendor, hereafter disclosed in publicly available sources of information; (iii) is now in the possession of Vendor without any obligation of confidentiality; or (iv) has been or is hereafter rightfully disclosed to Vendor by a third party, but only to the extent that the use or disclosure thereof has been or is rightfully authorized by that third party.

Vendor shall not disclose any reports, recommendations, conclusions or other results of the services or the existence of the subject matter of this contract without the prior written consent of the City. In its performance hereunder, Vendor shall comply with all legal obligations it may now or hereafter have respecting the information or other property of any other person, firm or corporation.

6. Office Space and Clerical Support.

Vendor shall provide its own office space and clerical support at its sole cost and expense.

7. Covenant Against Contingent Fees.

Vendor declares that it has not employed or retained any company or person, other than a bona fide employee working for Vendor, to solicit or secure this Agreement, that it has not paid or agreed to pay any company or person, other than a bona fide employee, any fee, commission, percentage, brokerage fee, gift or any other consideration, contingent upon or resulting from the award or making of the Agreement. For breach of violation of this warranty, City shall have the right to annul this Agreement without liability, or, at its sole discretion, to deduct from the Agreement price or consideration, or otherwise recover the full amount of such fee, commission, percentage, brokerage fee, gift or contingent fee.

8. Ownership of Documents.

All memoranda, reports, plans, specifications, maps and other documents prepared or obtained under the terms of this Agreement shall be the property of City and shall be delivered to City by Vendor upon demand.

9. Conflict of Interest and Political Reform Act Obligations.

During the term of this Agreement Vendor shall not act as Vendor or perform services of any kind for any person or entity whose interests conflict in any way with those of the City of Poway. Vendor shall at all times comply with the terms of the Political Reform Act and the local conflict of interest code. Vendor shall immediately disqualify itself and shall not use its official position to influence in any way any matter coming before the City in which the Vendor has a financial interest as defined in Government Code Section 87103. Vendor represents that it has no knowledge of any financial interests which would require it to disqualify itself from any matter on which it might perform services for the City.
5 of19
March 4, 2025, Item #7
"Vendor" means an individual who, pursuant to a contract with a state or local agency:
(A) Makes a governmental decision whether to:

1. Approve a rate, rule or regulation;

2. Adopt or enforce a law;

3. Issue, deny, suspend, or revoke any permit, license, application, certificate, approval, order, or similar authorization or entitlement;

4. Authorize the City to enter into, modify, or renew a contract provided it is the type of contract that requires City approval;

5. Grant City approval to a contract that requires City approval and to which the City is a party, or to the specifications for such a contract;

6. Grant City approval to a plan, design, report, study, or similar item;

7. Adopt, or grant City approval of, policies, standards, or guidelines for the City, or for any subdivision thereof; or
(B) Serves in a staff capacity with the City and in that capacity participates in making a governmental decision as defined in the Political Reform Act and/or implementing regulations promulgated by the Fair Political Practices Commission, or performs the same or substantially all the same duties for the City that would otherwise be performed by an individual holding a position specified in the City's Conflict of Interest Code.

DISCLOSURE DETERMINATION:
[8J 1. Vendor/Contractor will not be "making a government decision" or "serving in a staff capacity" as defined in Sections A and B above.

No disclosure required.

D 2. Vendor/Contractor will be "making a government decision" or "serving in a staff capacity" as defined in Sections A and B above. As a result, Vendor/Contractor shall be required to file a Statement of Economic Interest with the City Clerk of the City of Poway in a timely manner as required by law.

Department Director

10. No Assignments.

11. Maintenance of Records.

Vendor shall maintain all books, documents, papers, employee time sheets, accounting records, and other evidence pertaining to costs incurred and shall make such materials available at its office at all reasonable times during the contract period and for three (3) 6 of 19
March 4, 2025, Item #7
years from the date of final payment under this Agreement, for inspection by City and copies thereof shall be furnished, if requested.

12. Independent Contractor.

At all times during the term of this Agreement, Vendor shall be an independent contractor and shall not be an employee of the City of Poway. City shall have the right to control Vendor only insofar as the results of Vendor's services rendered pursuant to this Agreement; however, City shall not have the right to control the means by which Vendor accomplishes such services.

13. Licenses, Permits, Etc.

Vendor represents and declares to City that it has all licenses, permits, qualifications, and approvals of whatever nature that are legally required to practice its profession.

Vendor represents and warrants to City that Vendor shall, at its sole cost and expense, keep in effect at all times during the term of this Agreement, any license, permit, or approval which is legally required for Vendor to practice its profession.

14. Vendor's Insurance.

Vendor shall provide insurance as set forth in Exhibit "A" entitled "Special Provisions" attached hereto and made a part hereof.

15. Indemnification.
(a) For Claims (as defined herein) other than those alleged to arise from Vendor's negligent performance of professional services, City and its respective elected and appointed boards, officials, officers, agents, employees and volunteers (individually and collectively, "lndemnitees") shall have no liability to Vendor or any other person for, and Vendor shall indemnify, protect and hold harmless lndemnitees from and against, any and all liabilities, claims, actions, causes of action, proceedings, suits, damages, judgments, liens, levies, costs and expenses, including reasonable attorneys' fees and disbursements (collectively "Claims"), which lndemnitees may suffer or incur or to which lndemnitees may become subject by reason of or arising out of any injury to or death of any person(s), damage to property, loss of use of property, economic loss or otherwise occurring as a result of Vendor's negligent performance under this Agreement, or by the negligent or willful acts or omissions of Vendor, its agents, officers, directors, sub-Vendors or employees.
(b) For Claims alleged to arise from Vendor's negligent performance of professional services, lndemnitees shall have no liability to Vendor or any other person for, and Vendor shall indemnify and hold harmless lndemnitees from and against, any and all Claims that lndemnitees may suffer or incur or to which lndemnitees may become subject by reason of or arising out of any injury to or death of any person(s), damage to property, loss of use of property, economic loss or otherwise to the extent occurring as a result of Vendor's negligent performance of any professional services under this Agreement, or by the negligent or willful acts or omissions of Vendor, its agents, officers, directors, sub-Vendors or employees, committed in performing any of professional services under this Agreement. For Claims alleged to arise from Vendor's professional services, Vendor's defense obligation to lndemnitees shall include only the reimbursement of reasonable defense costs and attorneys' fees to the extent caused by Vendor's negligence.
7 of 19
March 4, 2025, Item #7
(c) The foregoing obligations of Vendor shall not apply to the extent that the Claims arise from the sole negligence or willful misconduct of City or its elected and appointed boards, officials, officers, agents, employees and volunteers.
(d) In any and all Claims against City by any employees of the Vendor, anyone directly or indirectly employed by it or anyone for whose acts it may be liable, the indemnification obligation under this Section 15 shall not be limited in any way by any limitation on the amount or type of damages, compensation or benefits payable by or for the Vendor under worker's compensation acts, disability benefit acts or other employee benefit acts. (e) Vendor shall, upon receipt of written notice of any Claim, promptly take all action necessary to make a claim under any applicable insurance policy or policies Vendor is carrying and maintaining; however, if Vendor fails to take such action as is necessary to make a claim under any such insurance policy, Vendor shall reimburse City for any and all costs, charges, expenses, damages and liabilities incurred by City in making any claim on behalf of Vendor under any insurance policy or policies required pursuant to this Agreement. (f) The obligations described in Section 15(a) through (e) above shall not be construed to negate, abridge or otherwise reduce any other right or obligation of indemnity which would otherwise exist as to any party or person indemnified pursuant to this Section 15. (g) The rights and obligations of the parties described in this Section 15 shall survive the termination of this Agreement.

16. Assumption of Risk.

Except for injuries to persons caused by the willful misconduct of any lndemnitee and not covered by insurance maintained, or required by this Agreement to be maintained, by Vendor:
(a) Vendor hereby assumes the risk of any and all injury and damage to the personnel (including death) and property of Vendor that occurs in the course of, or in connection with, the performance of Vendor's obligations under this Agreement, including but not limited to Vendor's Scope of Services; and (b) it is hereby agreed that the lndemnitees are not to be liable for injury or damage which may be sustained by the person, goods or property of Vendor or its employees in connection with Vendor's performance its obligations under this Agreement, including but not limited to Vendor's Scope of Services.

17. Vendor Not an Agent.

Except as City may specify in writing, Vendor shall have no authority, expressed or implied, to act on behalf of City in any capacity whatsoever as an agent. Vendor shall have no authority, expressed or implied, pursuant to this Agreement to bind City to any obligation whatsoever.

18. Personnel.

Vendor shall assign qualified and certified personnel to perform requested services. The City shall have the right to review and disapprove personnel for assignment to Poway projects.

City shall have the unrestricted right to order the removal of any person(s) assigned by Vendor by giving oral or written notice to Vendor to such effect. 8 of 19
March 4, 2025, Item #7
Vendor's personnel shall at all times comply with City's drug and alcohol policies then in effect.

19. Notices.

Notices shall be given as described on Exhibit "A" entitled "Special Provisions" attached hereto and made a part hereof.

20. Governing Law, Forum Selection and Attorneys' Fees.

This Agreement shall be governed by, and construed in accordance with, the laws of the State of California. Each party to this Agreement consents to personal jurisdiction in San Diego County, California, and hereby authorizes and accepts service of process sufficient for personal jurisdiction by first class mail, registered or certified, postage prepaid, to its address for giving notice as set forth in Exhibit "A" hereto. Any action to enforce or interpret the terms or conditions of this Agreement shall be brought in the Superior Court in San Diego County, Central Division, unless the parties mutually agree to submit their dispute to arbitration. Vendor hereby waives any right to remove any such action from San Diego County as is otherwise permitted by California Code of Civil Procedure section 394. The prevailing party in any such action or proceeding shall be entitled to recover all of its reasonable litigation expenses, including its expert fees, attorneys' fees, courts costs, arbitration costs, and any other fees. Notwithstanding the foregoing, in the event that the subject of such an action is compensation claimed by Vendor in the event of termination, Vendor's damages shall be limited to compensation for the 60-day period for which Vendor would have been entitled to receive compensation if terminated without cause, and neither party shall be entitled to recover their litigation expenses.

21. Gender.

Whether referred to in the masculine, feminine, or as "it," "Vendor" shall mean the individual or corporate Vendor and any and all employees of Vendor providing services hereunder.

22. Counterparts.

This Agreement (and any amendments) may be executed in multiple counterparts, each of which shall be deemed an original, but all of which, together, shall constitute one and the same instrument. Documents delivered by telephonic facsimile transmission shall be valid and binding.

23. Entire Agreement.

This Agreement shall constitute the entire understanding between Vendor and City relating to the terms and conditions of the services to be performed by Vendor. No agreements, representations or promises made by either party, whether oral or in writing, shall be of any force or effect unless it is in writing and executed by the party to be bound thereby.

24. Certification and Indemnification Regarding Public Employees' Retirement Law/Pension Reform Act of 2013.

Contractor hereby certifies that all persons providing services to City by Contractor are not current members of the California Public Employees' Retirement System (Cal PERS) and shall not become members of CalPERS while providing services to City. 9 of 19
March 4, 2025, Item #7
Contractor further provides that in the event Contractor assigns a retired annuitant receiving a pension benefit from CalPERS to perform services for City, the retired annuitant is in full compliance with Government Code section 7522.56. A copy of Government Code section 7522.56 is attached hereto as Exhibit "B."
Further, Contractor hereby fully and unconditionally indemnifies City from all penalties, fees, employer and employee contributions, or any other assessments imposed by CalPERS in the event CalPERS determines the person assigned by Contractor to provide services to City has been misclassified.

25. Severability.

If any provision of this Agreement is determined by any court of competent jurisdiction or arbitrator to be invalid, illegal, or unenforceable to any extent, that provision shall, if possible, be construed as though more narrowly drawn, if a narrower construction would avoid such invalidity, illegality, or unenforceability or, if that is not possible, such provision shall, to the extent of such invalidity, illegality, or unenforceability, be severed, and the remaining provisions of this Agreement shall remain in effect.
(Remainder of page intentionally left blank)
10 of 19
March 4, 2025, Item #7
IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement on the date first above written.

CITY OF POWAY
By:-------------
Chris Hazeltine, City Manager
Date: ------------
ATTEST:

Carrie Gallagher, CMC, City Clerk
APPROVED AS TO FORM:

By:-------------
Alan Fenstermacher, City Attorney
11 of 19

SAN DIEGO ICE COMPANY
By:-----------
Anthony Toma, Vice President
Date: ------------
March 4, 2025, Item #7
"SPECIAL PROVISIONS"
EXHIBIT "A"
A. Scope of Services.

Vendor agrees to perform services as required by City, which shall consist of the providing and blowing snow for the annual Winter Festival event further described on the quotes dated November 25, 2024, and December 10, 2024, which is included in this document as Attachment 1, and incorporated by reference, as if its contents were fully set forth herein. Vendor shall provide the necessary qualified personnel to perform the services.

B. Compensation and Reimbursement.

City shall pay Vendor a fee in accordance with the Quotes dated November 25, 2024, and December 10, 2024, which are included in this document as Attachment 1. Vendor's fee shall include and Vendor shall be responsible for the payment of all federal, state, and local taxes of any kind which are attributable to the compensation received.

C. Term of Agreement.

This Agreement shall be effective from the period commencing January 9, 2026, and ending January 17, 2028, unless sooner terminated by City as provided in the section of this Agreement entitled "Termination." Upon expiration or termination of this Agreement, Vendor shall return to City any and all equipment, documents or materials and all copies made thereof which Vendor received from City or produced for City for the purposes of this Agreement.

D. Vendor's Insurance.

1. Coverages:

Vendor shall obtain and maintain during the life of this Agreement all of the following insurance coverages:
(a) Comprehensive General Liability, including premises-operations, products/completed, broad form property damage, and blanket contractual liability with the following coverages: General Liability $1,000,000 Bodily Injury and Property Damage combined each occurrence and $2,000,000 aggregate.
(b) Automobile Liability. including owned, hired, and non-owned vehicles: $1,000,000 combined single limit.
(c) Vendor shall obtain and maintain, during the life of the Agreement, a policy of Professional Errors and Omissions Liability Insurance with policy limits of not less than $1,000,000 combined single limits, per claim and annual aggregate. (d) Workers' Compensation insurance in statutory amount. All of the endorsements which are required above shall be obtained for the policy of Workers' Compensation insurance.
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March 4, 2025, Item #7

2. Endorsements:

Endorsements shall be obtained so that each policy contains the following three provisions:
(a) Additional Insured. (Not required for Professional Errors and Omissions Liability Insurance or Workers' Compensation.) "City of Poway and its elected and appointed boards, officers, agents, and employees are additional insureds with respect to this subject project and contract with City." (b) Notice.
"Said policy shall not terminate, nor shall it be canceled, until thirty (30) days after written notice is given to City."
(c) Primary Coverage.
"The policy provides primary coverage to City and its elected and appointed boards, officers, agents, and employees. It is not secondary or in any way subordinate to any other insurance or coverage maintained by City."

3. Insurance Certificates:

Vendor shall provide City certificates of insurance showing the insurance coverages described in the paragraphs above, in a form and content approved by City, prior to beginning work under this Agreement.

E. Notices.

All notices, billings and payments hereunder shall be in writing and sent to the following addresses:

To City:

To Vendor:
13 of 19
City of Poway
P.O. Box 789
Poway, CA 92074
San Diego Ice Company
3412 Kurtz Street
San Diego, CA 92110
March 4, 2025, Item #7
EXHIBIT "B"
Cal Gov Code§ 7522.56
Deering's California Codes are current through all 1016 chapters of the 2018 Regular Session and the November 6, 2018 Ballot Measures.

Deering's California Codes Annotated> GOVERNMENT CODE> Title 1 General> Division 7 Miscellaneous > Chapter 21 Public Pension and Retirement Plans > Article 4 California Public Employees' Pension Reform Act of 2013
§ 7522.56. Provisions applicable to person receiving pension benefit from public retirement system; Section supersedes conflicting provisions (a)This section shall apply to any person who is receiving a pension benefit from a public retirement system and shall supersede any other provision in conflict with this section. (b) A retired person shall not serve, be employed by, or be employed through a contract directly by, a public employer in the same public retirement system from which the retiree receives the benefit without reinstatement from retirement, except as permitted by this section.
(c) A person who retires from a public employer may serve without reinstatement from retirement or loss or interruption of benefits provided by the retirement system upon appointment by the appointing power of a public employer either during an emergency to prevent stoppage of public business or because the retired person has skills needed to perform work of limited duration.
( d)Appointments of the person authorized under this section shall not exceed a total for all employers in that public retirement system of 960 hours or other equivalent limit, in a calendar or fiscal year, depending on the administrator of the system. The rate of pay for the employment shall not be less than the minimum, nor exceed the maximum, paid by the employer to other employees performing comparable duties, divided by 173.333 to equal an hourly rate. A retired person whose employment without reinstatement is authorized by this section shall acquire no service credit or retirement rights under this section with respect to the employment unless he or she reinstates from retirement. (e)
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(l)Notwithstanding subdivision (c), any retired person shall not be eligible to serve or be employed by a public employer if, during the 12-month period prior to an appointment described in this section, the retired person received any unemployment insurance compensation arising out of prior employment subject to this section with March 4, 2025, Item #7
a public employer. A retiree shall certify in writing to the employer upon accepting an offer of employment that he or she is in compliance with this requirement. (2)A retired person who accepts an appointment after receiving unemployment insurance compensation as described in this subdivision shall terminate that employment on the last day of the current pay period and shall not be eligible for reappointment subject to this section for a period of 12 months following the last day of employment.
(f)A retired person shall not be eligible to be employed pursuant to this section for a period of 180 days following the date of retirement unless he or she meets one of the following conditions:
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(l)The employer certifies the nature of the employment and that the appointment is necessary to fill a critically needed position before 180 days have passed and the appointment has been approved by the governing body of the employer in a public meeting. The appointment may not be placed on a consent calendar. (2)
(A)Except as otherwise provided in this paragraph, for state employees, the state employer certifies the nature of the employment and that the appointment is necessary to fill a critically needed state employment position before 180 days have passed and the appointment has been approved by the Department of Human Resources. The department may establish a process to delegate appointing authority to individual state agencies, but shall audit the process to determine if abuses of the system occur. If necessary, the department may assume an agency's appointing authority for retired workers and may charge the department an appropriate amount for administering that authority. (B)For legislative employees, the Senate Committee on Rules or the Assembly Rules Committee certifies the nature of the employment and that the appointment is necessary to fill a critically needed position before 180 days have passed and approves the appointment in a public meeting. The appointment may not be placed on a consent calendar.
(C)For employees of the California State University, the Trustees of the California State University certifies the nature of the employment and that the appointment is necessary to fill a critically needed position before 180 days have passed and approves the appointment in a public meeting. The appointment may not be placed on a consent calendar.
(3)The retiree is eligible to participate in the Faculty Early Retirement Program pursuant to a collective bargaining agreement with the California State University that existed prior to January 1, 2013, or has been included in subsequent agreements. (4)The retiree is a public safety officer or firefighter hired to perform a function or functions regularly performed by a public safety officer or firefighter.

March 4, 2025, Item #7
(g)A retired person who accepted a retirement incentive upon retirement shall not be eligible to be employed pursuant to this section for a period of 180 days following the date of retirement and subdivision (f) shall not apply.
(h)This section shall not apply to a person who is retired from the State Teachers' Retirement System, and who is subject to Section 24214, 24214.5 or 26812 of the Education Code.
(i)This section shall not apply to (1) a subordinate judicial officer whose position, upon retirement, is converted to a judgeship pursuant to Section 69615, and he or she returns to work in the converted position, and the employer is a trial court, or (2) a retiree of the Judges' Retirement System or the Judges' Retirement System II who is assigned to serve in a court pursuant to Section 68543.5.

History
Added Stats 2012 ch 296 § 15 (AB 340), effective January 1, 2013. Amended Stats 2013 ch 528 § 11 (SB 13). effective October 4, 2013 (ch 528 prevails); ch 76 § 75 (AB 383), effective January 1, 2013; Stats 2014 ch 238 § 1 (AB 2476), effective January 1, 2015.

Annotations
Notes
Amendments:

Note-
Amendments:
2013 Amendment:

Substituted (1) "have passed" for "has passed" in the first sentence of subds (f)(I) and (f)(2); (2) "or firefighter hired to perform a function or functions regularly performed by a public safety officer or firefighter" for "of firefighter" in subd (f)( 4); and (3) "Judges' Retirement System" for "Judges' Retirement System I" in subd (i).
16 of 19
March 4, 2025, Item #7
~SAN DIEGO
:. J_ (Cl.COMPANY
San Diego Ice Co.
3412 Kurtz St
San Diego, CA 92110
619-688-1999
BILL TO:

City Of Poway
P.O. Box 789
Poway, CA 92074
2026 QUOTE
Product Description
Tons Of Snow To Be Blown
Invoice No.: 00-401748
THIS ORDER WAS SHIPPED TO:

City Of Poway
13094 Civic Center Dr
Poway, CA 92064
By signing, you are verifying that:

Terms are 30 days
Sign;;<i en: 00/0010000 00:00

NO SIGNATURE ON FILE
17 of 19
Attachment 1

INVOICE
Invoice Date: 11/25/2024
Invoice No: 00-401748
Cust Ref No QUOTE 2026
Driver: (AT) Anthony Toma
Terms NET 30 Days
Quantity Price Each Tax Merch Total
115 $175.000 $1,559.69 $20,125.00
Merchandise Amount $20,125.00
Sales Tax $1,559.69
Invoice Total $21,684.69
Paid OnSite $0.00
Payment Type
Check No/Approval Cod
Total Paid $0.00
Balance Due $21,684.69
March 4, 2025, Item #7
~SAN DIEGO
-i J_ _'Cl.COMPANY
San Diego Ice Co.
3412 Kurtz St
San Diego, CA 92110
619-688-1999
BILL TO:

City Of Poway
P.O. Box 789
Poway, CA 92074
QUOTE 2027
Product Description
Tons Of Snow To Be Blown
Invoice No.: 00-401749
THIS ORDER WAS SHIPPED TO:

City Of Poway
13094 Civic Center Dr
Poway, CA 92064
By signing, you are verifying that:

Terms are 30 days
Sign:sd on: 00/0Ml·OO•O 00:00

NO SIGNATURE ON FILE
18 of 19

INVOICE
Invoice Date: 11/25/2024
Invoice No: 00-401749
Cust Ref No QUOTE 2027
Driver: (AT) Anthony Toma
Terms NET 30 Days
Quantity Price Each Tax Merch Total
115 $180.000 $1,604.25 $20,700.00
Merchandise Amount $20,700.00
Sales Tax $1,604.25
Invoice Total $22,304.25
Paid OnSite $0.00
Payment Type
Check No/Approval Cod
Total Paid $0.00
Balance Due $22,304.25
March 4, 2025, Item #7
~SAN DIEGO
~ J_ lCE,COMPANY
San Diego Ice Co.
3412 Kurtz St
San Diego, CA 92110
619-688-1999
BILL TO:

City Of Poway
P.O. Box 789
Poway, CA 92074
QUOTE 2028
Product Description
Tons Of Snow To Be Blown
Invoice No.: 00-401941
THIS ORDER WAS SHIPPED TO:

City Of Poway
13094 Civic Center Dr
Poway, CA 92064
By signing, you are verifying that:

Terms are 30 days

NO SIGNATURE ON FILE
19 of 19

INVOICE
Invoice Date: 12/10/2024
Invoice No: 00-401941
Cust Ref No QUOTE 2028
Driver: (AT) Anthony Toma
Terms NET 30 Days
Quantity Price Each Tax Merch Total
115 $185.000 $1,648.81 $21,275.00
Merchandise Amount $21,275.00
Sales Tax $1,648.81
Invoice Total $22,923.81
Paid OnSite $0.00
Payment Type
Check No/Approval Cod
Total Paid $0.00
Balance Due $22,923.81

Poway City CouncilMarch 4, 2025

Poway City Council
March 4, 2025