Agenda packet — San Rafael City Council, June 21, 2022 (part 1 of 3)

AGENDA
SAN RAFAEL CITY COUNCIL – TUESDAY, JUNE 21, 2022
REGULAR MEETING AT 7:00 P.M.

In-Person:

San Rafael City Council Chambers
1400 Fifth Avenue, San Rafael, CA 94901
Participate Virtually:

Watch on Zoom Webinar: https://tinyurl.com/cc-2022-06-21 Watch on YouTube: www.youtube.com/cityofsanrafael
Listen by phone: (669) 900-9128
ID: 899-2635-9885#
One Tap Mobile: US: +16699009128,,89926359885#
CORONAVIRUS (COVID-19) ADVISORY NOTICE
In response to Assembly Bill 361, the City of San Rafael is offering teleconference without complying with the procedural requirements of Government Code section 54953(b)(3). This meeting will be held in-person, virtually using Zoom and is being streamed to YouTube at www.youtube.com/cityofsanrafael.

How to participate in the meeting in-person:
• Stay home if you are experiencing COVID-19 symptoms
• Face coverings are recommended for attendees
• Use the sign-in sheet (optional) which allows notification of potentially exposed individuals if contact tracing reveals COVID-19 transmission may have occurred in a given meeting • Attendance will be limited to 50 percent of room capacity (no more than 90 persons) and all inperson attendees should socially distance as recommended by public health authorities. If the Chambers are 50% occupied, please participate online instead or utilize the audio feed in the lobby.
• All attendees are encouraged to be fully vaccinated.

How to participate in the meeting virtually:
• Submit public comment in writing before 4:00 p.m. the day of the meeting to [email protected].
• Join the Zoom webinar and use the 'raise hand' feature to provide verbal public comment. • Dial-in to Zoom's telephone number using the meeting ID and provide verbal public comment.

Any member of the public who needs accommodations should contact the City Clerk (email [email protected] or phone at 415-485-3066) who will use their best efforts to provide reasonable accommodations to provide as much accessibility as possible while also maintaining public safety in accordance with the City procedure for resolving reasonable accommodation requests.

OPEN SESSION

1. None.

CLOSED SESSION

2. Closed Session: - None.
2 OPEN TIME FOR PUBLIC EXPRESSION
The public is welcome to address the City Council at this time on matters not on the agenda that are within its jurisdiction. Please be advised that pursuant to Government Code Section 54954.2, the City Council is not permitted to discuss or take action on any matter not on the agenda unless it determines that an emergency exists, or that there is a need to take immediate action which arose following posting of the agenda. Comments may be no longer than two minutes and should be respectful to the community.

CITY MANAGER AND COUNCILMEMBER REPORTS:
(including AB 1234 Reports on Meetings and Conferences Attended at City Expense)

3. City Manager and Councilmember Reports:

CONSENT CALENDAR:

The opportunity for public comment on consent calendar items will occur prior to the City Council’s vote on the Consent Calendar. The City Council may approve the entire consent calendar with one action. In the alternative, items on the Consent Calendar may be removed by any City Council or staff member, for separate discussion and vote.

4. Consent Calendar Items:
a. Approval of Minutes
Approve Minutes of City Council / Successor Agency Regular Meeting of Monday, June 6, 2022 (CC)
Recommended Action – Approve minutes as submitted
b. Use of Teleconferencing for Public Meetings During State of Emergency Resolution Pursuant to Assembly Bill 361 Making Findings and Confirming the Need for Continued Use of Teleconferencing to Hold Public Meetings of City Boards and Commissions During the Continuing State of Emergency Relating to the Covid-19 Pandemic (CA)
Recommended Action – Adopt Resolution
c. Park and Recreation Commission Ordinance Update
Final Adoption of Ordinance 2010: An Ordinance of the City of San Rafael Amending Sections 2.16.020 Through 2.16.023 of the San Rafael Municipal Code Related to the Park and Recreation Commission (CC)
Recommended Action –Final adoption of Ordinance 2010
d. Planning Commission Ordinance Update
Final Adoption of Ordinance 2011: An Ordinance of the City of San Rafael Amending Sections 2.16.040 Through 2.16.110 of the San Rafael Municipal Code Related to the Planning Commission (CC)
Recommended Action – Final adoption of Ordinance 2011
e. Encampment Resolution Services
Resolution Approving and Authorizing the City Manager to Execute a Professional Services Agreement with St. Vincent De Paul to Provide Encampment and Homelessness Services in An Amount Not to Exceed $427,600 (CM)
Recommended Action – Adopt Resolution
3 f. Economic Development Strategic Plan
Resolution Approving and Authorizing the City Manager to Execute a Professional Services Agreement with Kosmont Companies to Prepare the City of San Rafael Economic Development Strategic Plan in a Not-to-Exceed Amount of $157,590 (ED) Recommended Action – Adopt Resolution
g. City Investment Policy
Annual Review and Resolution to Approve the City of San Rafael Investment Policy (Fin) Recommended Action – Adopt Resolution
h. City Quarterly Investment Report
Acceptance of City of San Rafael Quarterly Investment Report for the Quarter Ending March 31, 2022 (Fin)
Recommended Action – Accept report
i. FEMA Hazard Mitigation and Pre-Disaster Mitigation Grant Funds Resolution Authorizing Designated City Employees to Execute and File on Behalf of the City of San Rafael All Assurances and Agreements Required to Accept and Manage Funds of All Open and Future Disasters and Grants Up to Three Years from Date of Approval (FD) Recommended Action – Adopt Resolution
j. Second Street/Fourth Street/Miracle Mile Intersection Improvements Resolution Approving and Authorizing the City Manager to Execute a Professional Services Agreement with CSW/Stuber-Stroeh Engineering Group Inc. for Engineering Design Services Associated with the Second Street/Fourth Street/Miracle Mile Intersection Improvements in an Amount Not to Exceed $131,582 (PW)
Recommended Action – Adopt Resolution
k. Senate Bill 1, Road Maintenance and Rehabilitation Account (RMRA): FY 2022-23 Projects Resolution Approving the FY 2022-23 Projects List for Senate Bill 1: The Road Repair and Accountability Act (PW)
Recommended Action – Adopt Resolution

PUBLIC HEARING

5. Public Hearing:
a. Eviction Moratorium Through September 2022
Consideration of An Urgency Ordinance of the City Council of the City of San Rafael, Pursuant to California Government Code Section 36937(B), Barring Evictions in the City of San Rafael Through September 30, 2022 Due to the Public Health Emergency Arising from COVID-19 (CD)
Recommended Action – Adopt Urgency Ordinance (4/5)

OTHER AGENDA ITEMS

6. Other Agenda Items:
a. Canal Community Based Transportation Plan
Resolution Approving the 2022 Canal Community Based Transportation Plan (PW) Recommended Action – Adopt Resolution
4 b. Outdoor On-Street Dining Guidelines for “Streetaries” Streetary Program Guidelines to Replace COVID-19 Temporary Outdoor Dining Program (PW/PS/ED/FD/PD/CD/CA)
Recommended Action – Accept report and approve staff recommendation on Streetary Program Guidelines
c. Final Citywide Proposed Budget for Fiscal Year 2022-2023 and Legal Spending Limit i. Resolution Approving the Citywide Budget and Capital Improvement Program for the Fiscal Year 2022-2023; Providing for the Appropriations and Expenditure of All Sums Set Forth in the Budget in the Amount of $166,109,509; Authorizing an Increase to City Staff Headcount; Amending Resolution 14954 Regarding the Compensation and Working Conditions for Certain Unrepresented Executive Management Employees; And Approving a One-Time 5% Increase to Childcare Fees (AS/PW) Recommended Action – Adopt Resolution
ii. Resolution Approving Fiscal Year 2022-2023 GANN Appropriations Limit at $170,762,486 (AS/PW)
Recommended Action – Adopt Resolution
SAN RAFAEL SUCCESSOR AGENCY:

1. Consent Calendar:
a. Successor Agency Quarterly Investment Report
Acceptance of Successor Agency Quarterly Investment Report for the Quarter Ending March 31, 2022 (Fin)
Recommended Action – Accept report
ADJOURNMENT:

Any records relating to an agenda item, received by a majority or more of the Council less than 72 hours before the meeting, shall be available for inspection online, in the City Clerk’s Office, Room 209, 1400 Fifth Avenue, and placed with other agenda-related materials on the table in front of the Council Chamber prior to the meeting. Sign Language interpreters may be requested by calling (415) 485-3066 (voice), emailing [email protected] or using the California Telecommunications Relay Service by dialing “711”, at least 72 hours in advance of the meeting. Copies of documents are available in accessible formats upon request. To request Spanish language interpretation, please submit an online form at https://www.cityofsanrafael.org/request-for-interpretation/.

Minutes subject to approval at the meeting of June 21, 2022

MINUTES
SAN RAFAEL CITY COUNCIL – MONDAY, JUNE 6, 2022
REGULAR MEETING AT 7:00 P.M.

In-Person:

San Rafael City Council Chambers
1400 Fifth Avenue, San Rafael, CA 94901
Participate Virtually:

Watch on Zoom Webinar: https://tinyurl.com/cc-2022-06-06 Watch on YouTube: www.youtube.com/cityofsanrafael
Listen by phone: (669) 900-9128
ID: 817-3692-0337#
One Tap Mobile: US: +16699009128,,81736920337#
CORONAVIRUS (COVID-19) ADVISORY NOTICE
In response to Assembly Bill 361, the City of San Rafael is offering teleconference without complying with the procedural requirements of Government Code section 54953(b)(3). This meeting will be held in-person, virtually using Zoom and is being streamed to YouTube at www.youtube.com/cityofsanrafael.

Present: Mayor Kate
Vice Mayor Kertz
Councilmember Bushey
Councilmember Hill
Councilmember Llorens Gulati

Absent: None
Also Present: City Manager Jim Schutz
2 City Attorney Robert Epstein
City Clerk Lindsay Lara
OPEN SESSION – THIRD FLOOR CONFERENCE ROOM, CITY HALL – 6:00 PM Dial-in: (669) 900-9128, Meeting ID: 919-8305-6599#

1. Mayor Kate to announce Closed Session items.

CLOSED SESSION – THIRD FLOOR CONFERENCE ROOM, CITY HALL – 6:00 PM

2. Closed Session:
a. Conference with Legal Counsel - Anticipated Litigation Significant Exposure to Litigation Pursuant to Government Code Sections 54956.9(d)(2) and (e)(3): 1 case
b. Conference with Legal Counsel - Anticipated Litigation Initiation of Litigation Pursuant to Government Code Section 54956.9(d)(4): 1 case Mayor Kate called the meeting to order at 7:00 p.m. and invited City Clerk Lindsay Lara to call the roll. All members of the City Council were present.

City Attorney Robert Epstein announced that no reportable action was taken on the first item in the Closed Session held prior to the meeting. Regarding the second item, four Councilmembers voted unanimously to initiate litigation. Councilmember Hill abstained from the vote.

Mayor Kate provided opening remarks, which included gratitude to City Staff, the ongoing gun violence plaguing our society, the two proclamations on tonight’s agenda, a shout-out to all the school graduates and a land acknowledgment.

City Clerk Lindsay Lara informed the community that the in-person meeting would also be recorded and streamed live to YouTube and through Zoom, and members of the public would provide public comment either on the telephone or through Zoom. She explained the process for community participation on the telephone, through Zoom and in-person.

OPEN TIME FOR PUBLIC EXPRESSION
• Paul Kuhlman, Baypoint Lagoons Association, addressed the City Council regarding his recently formed working group to address the persistent deterioration of the lagoon shoreline, known as the upper and lower buffer zones.

CITY MANAGER’S REPORT:

3. City Manager’s Report:

City Manager Jim Schutz announced:
• Joint Community Conversation with Mayor Kate to be held on Wednesday, June 8 at the San Rafael Community Center at 5:30 p.m.
• Small Business Development Center (SBDC) announced $2,500 COVID-19 Relief Grants for businesses in Marin that made less than $50,000 in 2019. • Eviction Moratorium Update
• Employee Recognition Annual Event Recap
COUNCILMEMBER REPORTS:
(including AB 1234 Reports on Meetings and Conferences Attended at City Expense)

4. Councilmember Reports:
3 • Councilmember Kertz reported on the Marin Wildfire Prevention Authority, the City Employee Recognition luncheon, a homeless forum with Sam Tsemberis (Housing First), a Terra Linda High School site meeting, the Chamber of Commerce State of the City dinner, a meeting with the mayor of Mérida, a MCCMC Homelessness Committee meeting, a Marin County Commission on Aging meeting and the Vivalon groundbreaking event.
• Councilmember Hill reported on the City Employee Recognition luncheon, the Ritter House Under the Stars event, the State of the City dinner, a MCCMC Water Policy subcommittee meeting and the Vivalon groundbreaking event. • Councilmember Bushey reported on the Vivalon groundbreaking event, San Rafael Sanitation Agency meetings, Central Marin Sanitation Agency meetings, parking modification proposals in the Montecito/Dominican area, the Loch Lomond Oversight Committee, the State of the City dinner and MCCMC Water Policy committee meetings. • Councilmember Llorens Gulati reported on a Marin Clean Energy meeting, the State of the City dinner, a MCCMC Climate Action Committee meeting, a stakeholder committee meeting around the priorities for the Transportation Plan in the Canal, Supervisor Rodoni’s East San Rafael Office Hours and a Canal Arts Projects meeting • Mayor Kate reported on the Marin Gun Buy Back Program, Marin Transit meetings, a SMART meeting, a homeless conference with Built for Zero, the State of the City dinner and a meeting with Villa Real property owners.

Mayor Kate invited public comment on the City Manager’s Report and the Councilmember Reports; however, there was none.

CONSENT CALENDAR:

Mayor Kate invited public comment.

Speaker: Paul Kuhlman
Councilmember Llorens Gulati moved and Councilmember Kertz seconded to approve the Consent Calendar.

5. Consent Calendar Items:
a. Approval of Minutes
Approve Minutes of City Council / Successor Agency Regular Meeting of Monday, May 16, 2022 (CC)
Approved minutes as submitted
b. Use of Teleconferencing for Public Meetings During State of Emergency Resolution Pursuant to Assembly Bill 361 Making Findings and Confirming the Need for Continued Use of Teleconferencing to Hold Public Meetings of City Boards and Commissions During the Continuing State of Emergency Relating to the Covid-19 Pandemic (CA)
Resolution 15073 - Resolution Pursuant to Assembly Bill 361 Making Findings and Confirming the Need for Continued Use of Teleconferencing to Hold Public Meetings of City Boards and Commissions During the Continuing State of Emergency Relating to the Covid-19 Pandemic c. Vacancies on San Rafael Boards and Commissions
Announcement of Vacancies on the Public Art Review Board (CC) Received and filed
4 d. Statement of Economic Interests Annual Filings
Accept Report on Fair Political Practices Commission Form 700, Statement of Economic Interests, 2021 Annual Filings, For Section 87200 Filers and Designated Employees, Including Consultants, Design Review Board, and Park and Recreation Commission (CC) Accepted Report
e. Proposing General Municipal Election 2022
Resolution Calling and Giving Notice of By-District Elections for Districts 2/Western and 3/Eastern, and San Rafael Board of Education Trustee Area Elections for Areas 2 and 4, to be Held on November 8, 2022, Requesting the Marin County Board of Supervisors to Consolidate with Any Other Election Conducted on Said Date, and Requesting Election Services (CC)
Resolution 15074 - Resolution Calling and Giving Notice of By-District Elections for Districts 2/Western and 3/Eastern, and San Rafael Board of Education Trustee Area Elections for Areas 2 and 4, to be Held on November 8, 2022, Requesting the Marin County Board of Supervisors to Consolidate with Any Other Election Conducted on Said Date, and Requesting Election Services f. Annual Adjustment to the Library Parcel Tax
Report Concerning the Annual Consumer Price Index (CPI) Rate Adjustment for the Special Library Services Parcel Tax for the Fiscal Year July 1, 2022 Through June 30, 2023 as Specified in Voter-Approved Measure D (San Rafael Municipal Code Chapter 3.36) (AS/LR) Accepted Report
g. Crime Analyst Services
Resolution Authorizing the City Manager to Execute an Agreement for Crime Analysis Services with LexisNexis Risk Solutions, Inc., In an Amount of $146,675, and Appropriating this Amount from the Safety Grant Fund to Support the Agreement (PD) Resolution 15075 - Resolution Authorizing the City Manager to Execute an Agreement for Crime Analysis Services with LexisNexis Risk Solutions, Inc., In an Amount of $146,675, and Appropriating this Amount from the Safety Grant Fund to Support the Agreement h. Congestion Management Program
Resolution Electing to be Exempt from the Marin County Congestion Management Program (PW)
Resolution 15076 - Resolution Electing to be Exempt from the Marin County Congestion Management Program
i. Grand Avenue Cycle Track Grant Funding Agreement
Resolution Approving and Authorizing the City Manager to Execute a Funding Agreement with Association of Bay Area Governments (“ABAG”) In an Amount Not to Exceed $240,000 (PW)
Resolution 15077 - Resolution Approving and Authorizing the City Manager to Execute a Funding Agreement with Association of Bay Area Governments (“ABAG”) In an Amount Not to Exceed $240,000
j. Bungalow and Woodland Resurfacing Project
Resolution Approving the Re-Designed Plans for the Lower Bungalow Roadway Section and Authorizing the City Manager to Execute a Change Order to the Construction Agreement for the Bungalow and Woodland Resurfacing Project, City Project No. 11397, with Ghilotti Bros., Inc. In the Amount of $352,369, And Authorizing Additional Project 5 Contingency Funds in the Amount of $47,631, For a Total Additional Appropriated Amount of $400,000 (PW)
Resolution 15078 - Resolution Approving the Re-Designed Plans for the Lower Bungalow Roadway Section and Authorizing the City Manager to Execute a Change Order to the Construction Agreement for the Bungalow and Woodland Resurfacing Project, City Project No. 11397, with Ghilotti Bros., Inc. In the Amount of $352,369, And Authorizing Additional Project Contingency Funds in the Amount of $47,631, For a Total Additional Appropriated Amount of $400,000
k. 2021/22 Slurry Seal Project
Resolution Awarding and Authorizing the City Manager to Execute a Construction Agreement for 2021/22 Slurry Seal Project, City Project No. 11410, to Pavement Coatings Co. In the Amount of $1,029,500, and Authorizing Contingency Funds In the Amount of $120,500, for a Total Appropriated Amount of $1,150,000 (PW) Resolution 15079 - Resolution Awarding and Authorizing the City Manager to Execute a Construction Agreement for 2021/22 Slurry Seal Project, City Project No. 11410, to Pavement Coatings Co. In the Amount of $1,029,500, and Authorizing Contingency Funds In the Amount of $120,500, for a Total Appropriated Amount of $1,150,000 l. Temporary Street Closure to Support Canal Alliance Community Fair Event and Ongoing Mobile COVID-19 Vaccinations in the Canal Neighborhood
Resolution Authorizing Street Closure on Saturday, June 18, 2022 from 9 AM to 7 PM to Support Canal Alliance’s Community Fair Event and Saturdays in July, 2022 for COVID-19 Mobile Vaccinations (PW)
Resolution 15080 - Resolution Authorizing Street Closure on Saturday, June 18, 2022 from 9 AM to 7 PM to Support Canal Alliance’s Community Fair Event and Saturdays in July, 2022 for COVID-19 Mobile Vaccinations
m. Baypoint Lagoons Assessment District
Baypoint Lagoons Landscaping and Lighting Assessment District Annual Assessment FY 2022-23: (PW)
i. Resolution Directing Filing of Engineer’s Annual Report FY 2022-23 Resolution 15081 - Resolution Directing Filing of Engineer’s Annual Report FY 2022-23 ii. Resolution Approving Engineer’s Annual Report FY 2022-23 Resolution 15082 - Resolution Approving Engineer’s Annual Report FY 2022-23 iii. Resolution of Intention to Order Improvements and Setting a Public Hearing on the Annual Assessment for the City Council Meeting of July 5, 2022 Resolution 15083 - Resolution of Intention to Order Improvements and Setting a Public Hearing on the Annual Assessment for the City Council Meeting of July 5, 2022 n. Point San Pedro Road Median Landscaping Assessment District Point San Pedro Road Median Landscaping Assessment District Annual Assessment: (PW) i. Resolution Directing Filing of Engineer’s 2022-23 Annual Report Resolution 15084 - Resolution Directing Filing of Engineer’s 2022-23 Annual Report ii. Resolution Approving Engineer’s 2022-23 Annual Report Resolution 15085 - Resolution Approving Engineer’s 2022-23 Annual Report 6 iii. Resolution of Intention to Order Improvements and Setting a Public Hearing on the Annual Assessment for the City Council Meeting of July 5, 2022 Resolution 15086 - Resolution of Intention to Order Improvements and Setting a Public Hearing on the Annual Assessment for the City Council Meeting of July 5, 2022 AYES: Councilmembers: Bushey, Hill, Kertz, Llorens Gulati & Mayor Kate NOES: Councilmembers: None
ABSENT: Councilmembers: None

SPECIAL PRESENTATIONS

6. Special Presentations:

Mayor Kate invited public comment on the two Special Presentations; however, there was none. a. Presentation of LGBTQ+ Pride Month Proclamation (CM) Mayor Kate presented the proclamation.

Lynn Murphy, Police Mental Health Outreach Provider provided comments. b. Presentation of Juneteenth Proclamation (AS)
Mayor Kate presented the proclamation.

Antoinette Bullock “Tiny”, Police Community Services Officer provided comments.

OTHER AGENDA ITEMS:

7. Other Agenda Items:
a. Special Tax on Properties at Loch Lomond 10 – Mello-Roos District No. 1992-1 Resolution Setting the Special Tax for Community Facilities District No. 1992-1 (Loch Lomond #10) for Fiscal Year 2022-23 (PW)
Bill Guerin, Public Works Director introduced Stephen Acker, Sr. Management Analyst presented the Staff Report.

Staff, including Al Cornwell, CSW/Stuber-Stroeh Engineering Group responded to questions from Councilmembers.

Mayor Kate invited public comment; however, there was none.

Councilmember Bushey moved and Councilmember Kertz seconded to adopt the resolution.

AYES: Councilmembers: Bushey, Hill, Kertz, Llorens Gulati & Mayor Kate NOES: Councilmembers: None
ABSENT: Councilmembers: None
Resolution 15087 - Resolution Setting the Special Tax for Community Facilities District No. 1992-1 (Loch Lomond #10) for Fiscal Year 2022-23
7 b. The Village at Loch Lomond Marina – Mello-Roos District No. 2 Resolution Setting the Special Tax for City of San Rafael Community Facilities District No. 2 (The Village at Loch Lomond Marina) for Fiscal Year 2022-23 (PW) Stephen Acker, Sr. Management Analyst presented the Staff Report.

Staff responded to questions from Councilmembers.

Mayor Kate invited public comment; however, there was none.

Councilmembers provided comments.

Councilmember Bushey moved and Councilmember Hill seconded to adopt the resolution.

AYES: Councilmembers: Bushey, Hill, Kertz, Llorens Gulati & Mayor Kate NOES: Councilmembers: None
ABSENT: Councilmembers: None
Resolution 15088 - Resolution Setting the Special Tax for City of San Rafael Community Facilities District No. 2 (The Village at Loch Lomond Marina) for Fiscal Year 2022-23

PUBLIC HEARING

8. Public Hearing:
a. Board and Commission Updates
Resolution and Ordinance Changes to Existing City Boards and Commissions Lindsay Lara, City Clerk presented the Staff Report.

Staff caught an inconsistency and recommended removing the recommended wording in the body and title of the Planning Commission Ordinance on page 2, under 2.16.070, where it says “commission composition” and then changing the title, “Composition of planning commission”. The new recommended wording would be:

2.16.070 – Operations of the Planning Commission.

Meeting frequency and other operations of the Planning Commission shall be set by resolution of the council.

Staff responded to questions from Councilmembers.

Mayor Kate invited public comment.

Speakers: Amy Likover, Kate Powers, Bicycle & Pedestrian Advisory Committee (BPAC), Jean Severinghaus, Susan Coleman
i. Resolution Amending the Bicycle and Pedestrian Advisory Committee Bylaws Councilmember Bushey moved and Councilmember Kertz seconded to adopt the resolution.

AYES: Councilmembers: Bushey, Hill, Kertz, Llorens Gulati & Mayor Kate NOES: Councilmembers: None
ABSENT: Councilmembers: None
8 Resolution 15089 - Resolution Amending the Bicycle and Pedestrian Advisory Committee Bylaws ii. Pass to Print an Ordinance of the City of San Rafael Amending Title 2.16.020 Through

2.16.023 of the San Rafael Municipal Code Related to the Park and Recreation Commission
Councilmember Llorens Gulati moved and Councilmember Hill seconded to pass the Ordinance to print.

AYES: Councilmembers: Bushey, Hill, Kertz, Llorens Gulati & Mayor Kate NOES: Councilmembers: None
ABSENT: Councilmembers: None
Passed Ordinance No. 2010 to Print Amending Title 2.16.020 Through 2.16.023 of the San Rafael Municipal Code Related to the Park and Recreation Commission iii. Resolution Amending the Park and Recreation Commission Bylaws Councilmember Kertz moved and Councilmember Bushey seconded to adopt the resolution.

AYES: Councilmembers: Bushey, Hill, Kertz, Llorens Gulati & Mayor Kate NOES: Councilmembers: None
ABSENT: Councilmembers: None
Resolution 15090 - Resolution Amending the Park and Recreation Commission Bylaws iv. Pass to Print an Ordinance of the City of San Rafael Amending Title 2.16.040 Through

2.16.110 of the San Rafael Municipal Code Related to the Planning Commission Councilmember Hill moved and Councilmember Llorens Gulati seconded to pass the Ordinance to print, including modifications made by Staff.

AYES: Councilmembers: Bushey, Hill, Kertz, Llorens Gulati & Mayor Kate NOES: Councilmembers: None
ABSENT: Councilmembers: None
Passed Ordinance No. 2011 to Print Amending Title 2.16.040 Through 2.16.110 of the San Rafael Municipal Code Related to the Planning Commission v. Resolution Amending the Planning Commission Bylaws
Councilmember Bushey moved and Councilmember Llorens Gulati seconded to adopt the resolution.

AYES: Councilmembers: Bushey, Hill, Kertz, Llorens Gulati & Mayor Kate NOES: Councilmembers: None
ABSENT: Councilmembers: None
Resolution 15091 - Resolution Amending the Planning Commission Bylaws 9 SAN RAFAEL SUCCESSOR AGENCY:

1. Consent Calendar: - None
ADJOURNMENT:

Mayor Kate adjourned the meeting at 8:51 p.m.
___________________________
LINDSAY LARA, City Clerk
APPROVED THIS _____DAY OF____________, 2022
_____________________________________
KATE COLIN, Mayor
____________________________________________________________________________________

FOR CITY CLERK ONLY
Council Meeting:

Disposition:

Agenda Item No: 4.b
Meeting Date: June 21, 2022

SAN RAFAEL CITY COUNCIL AGENDA REPORT
Department: City Attorney
Prepared by: Genevieve Coyle,
Assistant City Attorney
City Manager Approval: ______________
TOPIC: USE OF TELECONFERENCING FOR PUBLIC MEETINGS DURING STATE OF

EMERGENCY
SUBJECT: RESOLUTION PURSUANT TO ASSEMBLY BILL 361 MAKING FINDINGS AND

CONFIRMING THE NEED FOR CONTINUED USE OF TELECONFERENCING TO

HOLD PUBLIC MEETINGS OF CITY BOARDS AND COMMISSIONS DURING THE CONTINUING STATE OF EMERGENCY RELATING TO THE COVID-19 PANDEMIC RECOMMENDATION:

Adopt the resolution pursuant to Assembly Bill 361 making findings and confirming the need for continued use of teleconferencing to hold public meetings of City boards and commissions during the continuing state of emergency relating to the COVID-19 pandemic.

BACKGROUND:

The Ralph M. Brown Act (“Brown Act”) requires that except as specifically provided, “meetings of the legislative body of a local agency shall be open and public, and all persons shall be permitted to attend any meeting of the legislative body”. (Gov. Code §54953(a).) For many years, the Brown Act has authorized members of a local agency’s legislative body to attend a public meeting by teleconference in compliance with strict procedural requirements. Under Government Code section 54953(b)(3), to use teleconferencing, at least a quorum of the legislative body must participate from locations within the agency’s boundaries, and the agency must give notice of each teleconference location, post an agenda at each teleconference location, provide for public access to each teleconference location, and allow members of the public to address the Council at each teleconference location.

On March 4, 2020, Governor Newsom declared a statewide state of emergency in connection with the COVID-19 pandemic. Subsequently, on March 18, 2020, the Governor issued Executive Order No. N29-20 suspending the Brown Act’s requirements for in-person meetings and facilitating the use of teleconferencing for public meetings during the state of emergency. The Executive Order authorized public meetings to be held by teleconference only, provided that notice and accessibility requirements are met, members of the public are allowed to observe and address the legislative body at the meeting, and there is a procedure for receiving and swiftly resolving requests for reasonable accommodation for individuals with disabilities. This order allowed the City Council and the City’s other formal boards and commissions to hold their public meetings using teleconferencing technologies until the order expired on SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 2
September 30, 2021. On September 16, 2021 Governor Newsom signed into law as an urgency measure Assembly Bill (AB) 361. AB 361 amended the Brown Act provisions governing the use of teleconferencing for public meetings of a local agency’s legislative bodies, allowing more liberal teleconferencing requirements to continue during the current and future state-declared emergencies. Therefore, since October 1, 2021, the City has relied on the amendments enacted by AB 361 as its authority to continue to hold meetings using teleconferencing technologies.

Government Code section 54953, as amended by AB 361, now provides in new subsection (e)(1), that during the current and any future state-declared state of emergency, the legislative body of a local agency may use teleconferencing without complying with the procedural requirements of Government Code section 54953(b)(3) in any of three circumstances:
(A) The legislative body holds a meeting during a proclaimed state of emergency, and state or local officials have imposed or recommended measures to promote social distancing. (B) The legislative body holds a meeting during a proclaimed state of emergency for the purpose of determining, by majority vote, whether as a result of the emergency, meeting in person would present imminent risks to the health or safety of attendees. (C) The legislative body holds a meeting during a proclaimed state of emergency and has determined, by majority vote, pursuant to subparagraph (B), that, as a result of the emergency, meeting in person would present imminent risks to the health or safety of attendees.

Certain additional requirements would apply under the new law, however, including specific requirements as to how public comment must be allowed and heard, with which the City already complies. In addition:
• In the event of a disruption which prevents the City from broadcasting the meeting to members of the public using the call-in option or internet-based service option, or in the event of a disruption within the City’s control which prevents members of the public from offering public comments using the call-in option or internet-based service option, the legislative body shall take no further action on items appearing on the meeting agenda until public access to the meeting via the callin option or internet-based service option is restored. Actions taken on agenda items during a disruption which prevents the public agency from broadcasting the meeting may be challenged pursuant to Section 54960.1.
• If a state of emergency remains active, or state or local officials have imposed or recommended measures to promote social distancing, in order to continue to teleconference without compliance with paragraph (3) of subdivision (b), the legislative body shall, not later than 30 days after teleconferencing for the first time pursuant to subparagraph (A), (B), or (C) of paragraph (1), and every 30 days thereafter, make the following findings by majority vote:
o The legislative body has reconsidered the circumstances of the state of emergency. o Any of the following circumstances exist:
 (i) The state of emergency continues to directly impact the ability of the members to meet safely in person.
 (ii) State or local officials continue to impose or recommend measures to promote social distancing.

SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 3
ANALYSIS:

The City Council has determined that it is now safe to hold in person meetings in the City Council Chambers, and the Council held its first such meeting on April 18, 2022. The City Council Chambers are roomy enough to allow for social distancing in most cases and are now equipped with teleconferencing equipment that also allows participation in public meetings from other locations. This hybrid meeting model provides an alternative means to attend for those persons who feel they cannot safely attend in person, as well as for those persons who may find it more convenient to participate in the meetings through teleconferencing.

Other boards and commissions that meet in the City Council Chambers will also be able to meet in person. However, not all City boards and commissions meet in the City Council Chambers and staff has not yet been able to make comparable arrangements for hybrid meetings in those other meeting locations. Therefore, staff recommends that the City Council continue to adopt the resolution required by AB 361, so that these other boards and commissions can continue to meet using teleconferencing technology.

The resolution before the City Council is intended to comply with the requirement to make specified findings every 30 days. The resolution finds that the state of emergency continues in effect, that measures to promote social distancing are still being imposed or recommended by the state and county, and that the state of emergency directly impacts the ability of the public and the members of the City’s Council, boards, and commissions to meet safely in person. The proposed resolution confirms the City Council’s determination that all public meetings of the City’s legislative bodies (the Council and all formal boards and commissions) may continue to be held using only teleconferencing technology.

FISCAL IMPACT:

There is no fiscal impact associated with the adoption of the attached resolution.

OPTIONS:

The City Council has the following options to consider on this matter:

1. Adopt the resolution as proposed.

2. Adopt a modified resolution.

3. Direct staff to return with more information.

4. Take no action.

RECOMMENDED ACTION:

Adopt the resolution pursuant to Assembly Bill 361 making findings and confirming the need for continued use of teleconferencing to hold public meetings of the San Rafael City boards and commissions during the continuing state of emergency relating to the COVID-19 pandemic.

ATTACHMENTS:

1. Resolution
1 RESOLUTION NO.

RESOLUTION OF THE SAN RAFAEL CITY COUNCIL PURSUANT TO ASSEMBLY BILL 361

MAKING FINDINGS AND CONFIRMING THE NEED FOR CONTINUED USE OF

TELECONFERENCING TO HOLD PUBLIC MEETINGS OF CITY BOARDS AND

COMMISSIONS DURING THE CONTINUING STATE OF EMERGENCY RELATING TO THE COVID-19 PANDEMIC
WHEREAS, on March 4, 2020 Governor Newsom issued a proclamation pursuant to Government Code Section 8625 declaring a state of emergency in California due to the COVID19 pandemic; and WHEREAS, the Ralph M. Brown Act (Gov. Code §§ 54950 et seq.) (hereafter, the “Brown Act”) provides in Government Code section 54953 that “all meetings of the legislative body of a local agency shall be open and public, and all persons shall be permitted to attend any meeting of the legislative body of a local agency, except as otherwise provided by this chapter”; and WHEREAS, Government Code section 54953(b)(3) permits the legislative body of a local agency to use teleconferencing for the benefit of the public and the legislative body in connection with any meeting or proceeding authorized by law, subject to specified procedural requirements including, but not limited to, the posting of agendas at all teleconference locations, the opportunity for members of the public to address the legislative body directly at each teleconference location, and that at least a quorum of the members of the legislative body participate from locations within the boundaries of the territory over which the legislative body exercises jurisdiction; and WHEREAS, Government Code section 54953(e), added by Assembly Bill 361 effective September 16, 2021, provides, in section 54953(e)(1), that during a state of emergency proclaimed pursuant to Government Code section 8625, the legislative body of a local agency may hold a meeting using teleconferencing without complying with the procedural requirements of section 54953(b)(3), provided that the legislative body complies with the requirements of section 54953(e)(2); and
WHEREAS, pursuant to Government Code section 54953(e)(3), if a state of emergency remains active, or state or local officials have imposed or recommended measures to promote social distancing, then in order to continue to teleconference without compliance with the requirements of section 54953(b)(3), the legislative body shall make specified findings at least every 30 days; and
WHEREAS, the City Council has reconsidered the circumstances of the proclaimed COVID-19-related state of emergency and finds that it remains active; and WHEREAS, the City Council finds that state and/or local officials continue to impose or recommend measures to promote social distancing, including masking in certain indoor public settings; and
WHEREAS, the City Council finds that the state of emergency continues to directly impact the ability of certain City boards and commissions to meet safely in person; 2 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of San Rafael that in order to protect the safety of the members of the public and its legislative bodies, for the 30 days following adoption of this resolution, public meetings of the City’s legislative bodies may continue to be held using teleconferencing technology in compliance with the requirements of Government Code section 54953(e)(2) and all other applicable laws.

I, Lindsay Lara, Clerk of the City of San Rafael, hereby certify that the foregoing Resolution was duly and regularly introduced and adopted at a regular meeting of the City Council of the City of San Rafael, held on Tuesday, the 21st day of June 2022 by the following vote, to wit:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

Lindsay Lara, City Clerk
1 Agenda Item 4.c
ORDINANCE NO. 2010

AN ORDINANCE OF THE CITY OF SAN RAFAEL AMENDING
SECTIONS 2.16.020 THROUGH 2.16.023 OF THE SAN RAFAEL

MUNICIPAL CODE RELATED TO THE PARK AND RECREATION

COMMISSION
WHEREAS, regulations governing the requirement to have a Park and Recreation Commission of the City of San Rafael are located in Article VIII, Section 11 of the San Rafael Charter; and
WHEREAS, regulations governing the Park and Recreation Commission of the City of San Rafael are located in the San Rafael Municipal Code (SRMC) Sections

2.16.020 through 2.16.023 of Chapter 2.16 (Board and Commissions); and WHEREAS, in an effort to move our advisory bodies to a total of five voting members, staff is recommending the Park and Recreation Commission be comprised of five voting members; and
WHEREAS, changes to membership will happen through attrition. As terms expire, staff will not fill vacancies until the new membership number is reached. No current members will be removed to meet the new composition of the Commission; and WHEREAS, staff recommends the removal of the Commission’s power to review, and make comments and recommendations regarding the annual operating budget of the department; and
WHEREAS, there are instances throughout the SRMC where masculine language is used, and changes are being recommended to amend language to be gender-neutral; and
WHEREAS, the provisions of section 2.16.022 of the SRMC, regarding term of office and removal of Commission members, are already set forth in Article VIII, Section 11 of the San Rafael Charter and staff recommends eliminating those provisions from this section of the SRMC.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN RAFAEL DOES ORDAIN AS FOLLOWS:

Division 1. Amendment of Municipal Code.

Sections 2.16.020 through 2.16.023 of Chapter 2.16 (Board and Commissions) of the San Rafael Municipal Code are hereby amended to read as follows. Additions are shown in underline, and deletions are shown in strikethrough.

2.16.020 - Park and recreation commission.*
A park and recreation commission is created.
* Park commission—See San Rafael Charter, Art. III § 52 and Art. VIII § 11.

2.16.021 - Commission membership—Compensation.
2 Agenda Item 4.c
The park and recreation commission shall consist of seven five members appointed by the city council, one of whom may be a councilman councilmember. All members of the park and recreation commission shall serve without compensation. The city council may establish compensation for members of the park and recreation commission by resolution.

2.16.022 - Commission term of office and removal.Reserved.

Members of the park and recreation commission shall serve for a term of four years and shall be subject to removal by the affirmative vote of three members of the council. The terms of office of members of the commission shall be staggered in the manner provided by resolution of the city council.

2.16.023 - Commission powers and duties.

Subject to the direction and control of the city council, as provided in Section 2.04.030 of this code, the powers and duties of the parks and recreation commissioners shall be:

To assist in the preparation and adoption of a review annually and revise as necessary a long-range plan for parks including neighborhood parks, community-wide parks, special use facilities and open space lands;
To focus public attention upon the need for adequate parks and healthful and creative year-round supervised recreation for all age groups;
To assist in promoting the public recreation programs;
To solicit to the fullest extent possible the cooperation of school authorities and other public and private agencies interested therein;
To assist the parks and recreation director in establishing general policies and procedures in respect to park usage;
To review, comment and make recommendations regarding the annual operating budget of the department;
To receive periodic reports from the department head concerning the general operations and functions of the department; and
To perform such other duties as may be prescribed by the council.

Division 2. Severability.

If any section, subsection, sentence, clause, phrase or word of this Ordinance is for any reason held to be invalid by a court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this Ordinance. The City Council hereby declares it would have passed and adopted this Ordinance and each and all provisions hereof irrespective of the fact that any one or more of said provisions be declared invalid.

Division 3. CEQA Determination.
3 Agenda Item 4.c
This Ordinance makes only administrative changes to the operations of a City commission and is therefore exempt from the requirements of the California Environmental Quality Act (CEQA) under 14 Cal. Code Regs. §15061(b)(3), the common sense exemption, because it can be seen with certainty that there is no possibility that the Ordinance may have a significant effect on the environment.

Division 4. Publication; Effective Date.

This Ordinance shall be published once, in full or in summary form, before its final passage, in a newspaper of general circulation, published, and circulated in the City of San Rafael, and shall be in full force and effect thirty (30) days after its final passage. If published in summary form, the summary shall also be published within fifteen (15) days after the adoption, together with the names of those Councilmembers voting for or against same, in a newspaper of general circulation published and circulated in the City of San Rafael, County of Marin, State of California.
____
KATE COLIN, Mayor
ATTEST:
______
LINDSAY LARA, City Clerk
The foregoing Ordinance No. 2010 was introduced at a Regular Meeting of the City Council of the City of San Rafael, held on the 6th day of June 2022 and ordered passed to print by the following vote, to wit:

AYES: Councilmembers: Bushey, Hill, Kertz, Llorens Gulati & Mayor Kate NOES: Councilmembers: None
ABSENT: Councilmembers: None
and will come up for adoption as an Ordinance of the City of San Rafael at a Regular Meeting of the Council to be held on the 21st day of June 2022. ______
LINDSAY LARA, City Clerk
SUMMARY OF ORDINANCE NO. 2010

AN ORDINANCE OF THE CITY OF SAN RAFAEL AMENDING SECTIONS

2.16.020 THROUGH 2.16.023 OF THE SAN RAFAEL MUNICIPAL CODE

RELATED TO THE PARK AND RECREATION COMMISSION
This Summary concerns a proposed ordinance of the City Council of the City of San Rafael, designated as Ordinance No. 2010, which will amend the Park and Recreation Commission. Ordinance No. 2010 is scheduled for adoption by the San Rafael City Council at its regular meeting of Tuesday, June 21, 2022. The City Clerk has been directed to publish this Summary pursuant to City Charter and California Government Code section 36933(c)(1).

SUMMARY OF ORDINANCE
Ordinance No. 2010 amends Sections 2.16.020 through 2.16.023 of the San Rafael City Municipal Code, changing the composition of membership from seven to five members, removing masculine language and replacing it with gender neutral language, removing the clause relating to compensation of commissioners and providing authority to the city council to approve compensation by resolution, removing duplicative language in the code, and removing the review of the department budget from the powers and duties of the commission. The City Council’s adoption of this ordinance creates uniformity across the City’s boards and commissions program.

For a complete copy of the text of the Ordinance, please contact the City Clerk Lindsay Lara at 415-485-3065 or [email protected]. Copies of the Ordinance are also available for public review by contacting the City Clerk’s office by email to [email protected].
/s/ Lindsay Lara

LINDSAY LARA
San Rafael City Clerk
Dated: 06/10/2022
1 Agenda Item 4.d
ORDINANCE NO. 2011

AN ORDINANCE OF THE CITY OF SAN RAFAEL AMENDING
SECTIONS 2.16.040 THROUGH 2.16.110 OF THE SAN RAFAEL

MUNICIPAL CODE RELATED TO THE PLANNING COMMISSION
WHEREAS, regulations governing the planning commission of the City of San Rafael are located in the San Rafael Municipal Code (SRMC) Sections 2.16.040 through

2.16.110 of Chapter 2.16 (Board and Commissions); and
WHEREAS, currently, any changes to the planning commission requires an amendment to the Municipal Code and staff is recommending amending the code to allow specific details of the commission to be approved by resolution of the City Council, such as meeting frequency, eligibility requirements for becoming a planning commissioner, and composition of the commission, and specific compensation of planning commissioners; and
WHEREAS, Section 2.16.050 of the municipal code currently outlines the process for the initial implementation of the planning commission and is no longer needed, and staff is recommending deleting the implementation process; and WHEREAS, the municipal code currently outlines the process for chair and secretary selection and staff is recommending that changes to eligibility requirements, meetings and Commission composition be established by resolution; and WHEREAS, the municipal code currently outlines meeting frequency and quorum and staff is recommending the deletion of this section because it will be outlined in the bylaws to be consistent with other boards and commissions; and WHEREAS, the municipal code currently states that members of the planning commission will serve without compensation and staff is recommending an amendment to the code providing City Council authority to approve compensation of commissioners by resolution; and
WHEREAS, the municipal code outlines the powers and duties of the planning commission and references duties and documents that are no longer relevant to the current role of the planning commission;

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN RAFAEL DOES ORDAIN AS FOLLOWS:

Division 1. Amendment of Municipal Code.

Sections 2.16.040 through 2.16.110 of Chapter 2.16 (Board and Commissions) of the San Rafael Municipal Code are hereby amended to read as follows. Additions are shown in underline, and deletions are shown in strikethrough.

2.16.040 – Planning commission—Creation—Membership.

There is created a planning commission for the city, consisting of seven members, not officials of the city, appointed by the mayor with the approval of the city council. Eligibility requirements for members of the planning commission are as follows:
2 Agenda Item 4.d
The Commission shall be composed of seven (7) regular voting members, one commissioner from each of the city’s four city council electoral districts, and three at-large commissioners.

Requirements for eligibility:

1. District Representatives: Each district representative must reside in the district they represent.

2. At-Large Members: Must reside in city limits.

2.16.050 – Terms of planning commission members.

Of the members of the commission first appointed, two shall be appointed for the terms of one year; two for the terms of two years; two for the terms of three years; and one for the term of four years. Their successors Planning commissioners shall be appointed for terms of four years; if a vacancy occurs otherwise than by expiration of term it shall be filled by appointment for the unexpired portion of the term.

2.16.060 – Advisory members of planning commission.

Advisory members of the commission shall be the city manager, the city attorney, and the city engineer. The advisory members shall not have the power to vote and their terms shall correspond to their respective official tenure.

2.16.070 – Chairman and secretary of planning commission. Operations of the planning commission.

The commission shall elect a chairman from its appointed members, and may also elect a secretary who may be an employee of the city. Meeting frequency and other operations of the planning commission shall be set by resolution of the council.

2.16.080 – Meetings and quorum of planning commission. Reserved.

At least one regular meeting shall be held each month on a date selected by the commission.

Four of the appointed members of the commission shall be required to constitute a quorum for the transaction of the business of the commission.

2.16.090 – Removal from planning commission.

Any appointed member of the commission may be removed by the mayor with the approval of the city council or by a majority vote of the council.

2.16.100– Compensation of planning commission.

All members of the commission shall serve as such without compensation. The city council may establish compensation for members of the planning commission by resolution.

2.16.110– Powers and duties of planning commission.

It shall be the function and duty of the planning commission to act as a decision-making body on quasi-legislative matters including but not limited to:

Agenda Item 4.d
3 • major subdivisions as delegated to the planning commission under Title 15 of this Code
• conditional use permits delegated to the planning commission • environmental and design review permits delegated to the planning commission • appeals made by a lower body and appealed to the planning commission.

It shall be the function and duty of the planning commission to act as an advisory body to the city council on legislative matters related to but not limited to the following:
• general plan updates and amendments
• zoning text and zoning map amendments
• other land use matters requiring city council action.

It shall be the duty of the members of the planning commission to inform themselves on matters affecting the functions and duties of the commission and all planning matters, and, to that end, they may attend training and planning conferences and the reasonable traveling expenses incidental to the attendance shall be charged upon the funds allocated to the commission.

The planning commission shall endeavor to promote public interest and understanding of plans developed, and the regulations relating thereto. The commission shall adopt rules for the transaction of business and shall keep a record of its resolutions, transactions, findings, and determinations, which records shall be a public record.

It shall be the function and duty of the planning commission to prepare and adopt, in accordance with and as provided by the Conservation and Planning Act of the state of California, comprehensive long-term general plans for the physical development of the city of San Rafael, and of any land outside the boundary thereof which bears relation to the city. The plans may be comprised of the following or other and additional plans and maps which may in commission's judgment relate to the physical development of the city:

Streets and highway plan
Parking plan
Recreation plan
Public buildings plan
Transit plan
The planning commission shall be charged with the duty of making investigations, reports on the design and improvements of proposed subdivisions, and shall have such powers in connection therewith as are outlined in the Subdivision Map Act of the state of California, and the subdivision regulations adopted by the city of San Rafael.

It shall be the duty of the members of the planning commission, including advisory members and members of its staff, to inform themselves on matters affecting the functions and duties of the commission and all planning matters, and, to that end, when authorized by a majority of the commission, may attend planning conferences, or meetings of planning executives, hearings on planning legislation or matters affecting the master plan or any part thereof, and the reasonable traveling expenses incidental to the attendances shall be charges upon the funds allocated to the commission. 4 Agenda Item 4.d
The planning commission shall endeavor to promote public interest and understanding of plans developed, and the regulations relating thereto. It shall be part of its duty to consult with and advise the public officials, agencies, public utilities companies, school boards, civic and other organizations, and with the citizens generally in relation to carrying out the plans.

The commission shall adopt rules for the transaction of business and shall keep a record of its resolutions, transactions, findings, and determinations, which records shall be a public record.

Division 2. Severability.

Division 3. CEQA Determination.

This Ordinance makes only administrative changes to the operations of a City board and is therefore exempt from the requirements of the California Environmental Quality Act (CEQA) under 14 Cal. Code Regs. §15061(b)(3), the common sense exemption, because it can be seen with certainty that there is no possibility that the Ordinance may have a significant effect on the environment.

Division 4. Publication; Effective Date.

This Ordinance shall be published once, in full or in summary form, before its final passage, in a newspaper of general circulation, published, and circulated in the City of San Rafael, and shall be in full force and effect thirty (30) days after its final passage. If published in summary form, the summary shall also be published within fifteen (15) days after the adoption, together with the names of those Councilmembers voting for or against same, in a newspaper of general circulation published and circulated in the City of San Rafael, County of Marin, State of California.
____
KATE COLIN, Mayor
ATTEST:
______
LINDSAY LARA, City Clerk
5 Agenda Item 4.d
The foregoing Ordinance No. 2011 was introduced at a Regular Meeting of the City Council of the City of San Rafael, held on the 6
th day of June 2022 and ordered passed to print by
the following vote, to wit:

AN ORDINANCE OF THE CITY OF SAN RAFAEL AMENDING SECTIONS

2.16.040 THROUGH 2.16.110 OF THE SAN RAFAEL MUNICIPAL CODE

RELATED TO THE PLANNING COMMISSION
This Summary concerns a proposed ordinance of the City Council of the City of San Rafael, designated as Ordinance No. 2011, which will amend the Planning Commission. Ordinance No. 2011 is scheduled for adoption by the San Rafael City Council at its regular meeting of Tuesday, June 21, 2022. The City Clerk has been directed to publish this Summary pursuant to City Charter and California Government Code section 36933(c)(1).

SUMMARY OF ORDINANCE
Ordinance No. 2011 amends Sections 2.16.040 through 2.16.110 of the San Rafael City Municipal Code, changing membership eligibility to include four district representatives and three at-large members, removing outdated implementation guidelines, allowing meeting frequency and operations of the commission to be approved by resolution, removing duplicative information, removing the clause relating to compensation of commissioners and providing authority to the city council to approve compensation by resolution, and updating the powers and duties of the commission to reflect the current practices of the commission.

LINDSAY LARA
San Rafael City Clerk
Dated: 06/10/2022
____________________________________________________________________________________

FOR CITY CLERK ONLY
Council Meeting: _______________________
Disposition: ___________________________
Agenda Item No: 4.e
Meeting Date: June 21, 2022

SAN RAFAEL CITY COUNCIL AGENDA REPORT
Department: City Manager’s Office
Prepared by: Marc Sabin
Homeless Services Director
City Manager Approval: ______________
TOPIC: ENCAMPMENT RESOLUTION SERVICES
SUBJECT: RESOLUTION APPROVING AND AUTHORIZING THE CITY MANAGER TO EXECUTE A PROFESSIONAL SERVICES AGREEMENT WITH ST. VINCENT DE PAUL TO

PROVIDE ENCAMPMENT AND HOMELESSNESS SERVICES IN AN AMOUNT NOT TO EXCEED $427,600
RECOMMENDATION:

Adopt the resolution approving and authorizing the City Manager to execute a professional services agreement with St. Vincent De Paul to provide encampment and homelessness services in an amount not to exceed $427,600.

BACKGROUND:

In July 2021, the City of San Rafael created a Services Support Area (“SSA”) to provide a safe area for up to 49 homeless individuals to reside temporarily and to easily connect with service providers for needed support services. To further support the efforts to best serve San Rafael’s homeless community at the SSA, the City applied for and received $522,619 from the State of California Encampment Resolution Funding Program (“ERF”). The City wants to ensure that the homeless community is receiving enhanced services to assist them with the process of returning to stable housing. To support this success, the City requires the contract services of an established organization with the experience and demonstrated success in serving the homeless community.

ANALYSIS:

St. Vincent De Paul (SVDP) has provided services in the City of San Rafael since 1946. SVDP has provided street-based outreach (Homeless Outreach Team), case management, and essential services to the unhoused and underserved community which have had a positive impact on San Rafael’s homeless community. SVDP has been key in the efforts that have resulted in housing over 400 individuals in Marin County. SVDP is well-poised to begin providing services funded by the ERF grant upon execution of a contract with the City.

FISCAL IMPACT:

There is no fiscal impact as this agreement is fully funded by the ERF grant which will be provided as one lump sum payment to the City of $522,619. The contract with SVDP will not exceed $427,600. The agreement will cover Intensive Case Management, a consistent presence at the SSA, outreach supplies, SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 2
technology to assist with case management (computers, internet access) and transportation for clients.

These funds are to be expended by June 30, 2024.

The balance of $95,019 of the ERF grant remains to be utilized for Homeless and Encampment Resolution services by the City. These funds will be utilized to cover administrative costs and direct services to be identified as the program develops.

OPTIONS:

The City Council has the following options to consider on this matter:

1. Adopt resolution approving the agreement with SVDP.

2. Adopt resolution with modifications to the attached agreement.

3. Direct staff to return with more information.

4. Take no action.

RECOMMENDED ACTION:

ATTACHMENTS:

1. Resolution

2. Proposed Agreement with St. Vincent De Paul
RESOLUTION NO.

A RESOLUTION OF THE SAN RAFAEL CITY COUNCIL APPROVING AND AUTHORIZING THE CITY MANAGER TO EXECUTE A PROFESSIONAL SERVICES AGREEMENT WITH ST.

VINCENT DE PAUL TO PROVIDE ENCAMPMENT AND HOMELESSNESS SERVICES IN AN AMOUNT NOT TO EXCEED $427,600
WHEREAS, in July 2021, the City of San Rafael created a Services Support Area (“SSA”) to provide a safe area for up to 49 homeless individuals to reside temporarily and to easily connect with service providers for needed support services; and WHEREAS, to further support the efforts to best serve San Rafael’s homeless community at the SSA, the City applied for and received $522,619 from the State of California Encampment Resolution Funding Program (“ERF”); and
WHEREAS, the City wants to ensure that the homeless community is receiving enhanced services to assist them with the process of returning to stable housing, and to support this success, the City requires the contract services of an established organization with the experience and demonstrated success in serving the homeless community; and WHEREAS, St. Vincent De Paul (“SVDP”) has provided services in the City of San Rafael since 1946, has provided street-based outreach (Homeless Outreach Team), case management, and essential services to the unhoused and underserved community which have had a positive impact on San Rafael’s homeless community, and has been key in the efforts that have resulted in housing over 400 individuals in Marin County; and WHEREAS, SVDP is well-poised to begin providing services funded by the ERF grant upon execution of an agreement with the City.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN RAFAEL RESOLVES as follows:

The City Council hereby approves and authorizes the City Manager to execute a Professional Services Agreement with St. Vincent De Paul for encampment and homelessness services in an amount not to exceed $427,600, subject to final approval as to form by the City Attorney.

I, LINDSAY LARA, Clerk of the City of San Rafael, hereby certify that the foregoing resolution was duly and regularly introduced and adopted at a regular meeting of the Council of said City on Tuesday, the 21st day of June 2022, by the following vote, to wit:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

LINDSAY LARA, City Clerk
1 AGREEMENT FOR PROFESSIONAL CASE MANAGEMENT SERVICES
This Agreement is made and entered into this _____ day of __________________, 20___, by and between the CITY OF SAN RAFAEL (hereinafter "CITY"), and St. Vincent De Paul Society, District Council of Marin County, a California non-profit corporation (hereinafter "CONSULTANT").

RECITALS
WHEREAS, the CITY has established a temporary Support Services Area (“SSA”) at which a limited number of individuals experiencing chronic homelessness in San Rafael can receive services and engage in intensive case management in a meaningful way, in a secure area; and WHEREAS, CITY has immediate need for professional case management services at the SSA and CONSULTANT is qualified and able to provide the required services;

AGREEMENT
NOW, THEREFORE, the parties hereby agree as follows:

1. PROJECT COORDINATION.

A. CITY’S Project Manager. The City Manager is hereby designated the PROJECT MANAGER for the CITY and said PROJECT MANAGER shall supervise all aspects of the progress and execution of this Agreement.

B. CONSULTANT’S Project Director. CONSULTANT shall assign a single PROJECT DIRECTOR to have overall responsibility for the progress and execution of this Agreement for CONSULTANT. Christine Paquette is hereby designated as the PROJECT DIRECTOR for CONSULTANT. Should circumstances or conditions subsequent to the execution of this Agreement require a substitute PROJECT DIRECTOR, for any reason, the CONSULTANT shall notify the CITY within ten (10) business days of the substitution.

2. DUTIES OF CONSULTANT.

CONSULTANT shall perform the duties and/or provide services as described in Exhibit A attached hereto and incorporated herein by reference.

3. DUTIES OF CITY.

Upon services rendered by CONSULTANT, the CITY shall pay the compensation as provided in Paragraph 4.

Revised 1/29/2020

4. COMPENSATION.

For the full performance of the services described herein by CONSULTANT, CITY shall pay CONSULTANT as set forth in Exhibit A attached hereto and incorporated herein by reference, in a total amount not to exceed of $427,600 (or $213,800 per year).

Payment will be made monthly upon receipt by PROJECT MANAGER of itemized invoices submitted by CONSULTANT.

5. TERM OF AGREEMENT.

The term of this Agreement shall be from the date of execution of this Agreement through June 30, 2024.

6. TERMINATION.

A. Discretionary. Either party may terminate this Agreement without cause upon ninety (90) days written notice mailed or personally delivered to the other party.

B. Cause. Either party may terminate this Agreement for cause upon fifteen (15) days written notice mailed or personally delivered to the other party, and the notified party's failure to cure or correct the cause of the termination, to the reasonable satisfaction of the party giving such notice, within such fifteen (15) day time period.

C. Effect of Termination. Upon receipt of notice of termination, neither party shall incur additional obligations under any provision of this Agreement without the prior written consent of the other.

D. Return of Documents. Upon termination, any and all CITY documents or materials provided to CONSULTANT and any and all of CONSULTANT's documents and materials prepared for or relating to the performance of its duties under this Agreement, shall be delivered to CITY as soon as possible, but not later than thirty (30) days after termination.

7. OWNERSHIP OF DOCUMENTS.

The written documents and materials prepared by the CONSULTANT in connection with the performance of its duties under this Agreement, shall be the sole property of CITY. CITY may use said property for any purpose, including projects not contemplated by this Agreement.

8. INSPECTION AND AUDIT.

Upon reasonable notice, CONSULTANT shall make available to CITY, or its agent, for inspection and audit, all documents and materials maintained by CONSULTANT in connection with its performance of its duties under this Agreement. CONSULTANT shall fully cooperate with CITY or its agent in any such audit or inspection.

Revised 1/29/2020

9. ASSIGNABILITY.

The parties agree that they shall not assign or transfer any interest in this Agreement nor the performance of any of their respective obligations hereunder, without the prior written consent of the other party, and any attempt to so assign this Agreement or any rights, duties or obligations arising hereunder shall be void and of no effect.

10. INSURANCE.

A. Scope of Coverage. During the term of this Agreement, CONSULTANT shall maintain, at no expense to CITY, the following insurance policies:

1. A commercial general liability insurance policy in the minimum amount of one million dollars ($1,000,000) per occurrence/two million dollars($2,000,000) aggregate, for death, bodily injury, personal injury, or property damage.

2. An automobile liability (owned, non-owned, and hired vehicles) insurance policy in the minimum amount of one million dollars ($1,000,000) per occurrence.

3. If any licensed professional performs any of the services required to be performed under this Agreement, a professional liability insurance policy in the minimum amount of one million dollars ($1,000,000) per occurrence/two million dollars ($2,000,000) aggregate, to cover any claims arising out of the CONSULTANT's performance of services under this Agreement.

Where CONSULTANT is a professional not required to have a professional license, CITY reserves the right to require CONSULTANT to provide professional liability insurance pursuant to this section.

4. If it employs any person, CONSULTANT shall maintain worker's compensation insurance, as required by the State of California, with statutory limits, and employer’s liability insurance with limits of no less than one million dollars ($1,000,000) per accident for bodily injury or disease. CONSULTANT’s worker’s compensation insurance shall be specifically endorsed to waive any right of subrogation against CITY.

B. Other Insurance Requirements. The insurance coverage required of the CONSULTANT in subparagraph A of this section above shall also meet the following requirements:

1. Except for professional liability insurance or worker’s compensation insurance, the insurance policies shall be specifically endorsed to include the CITY, its officers, agents, employees, and volunteers, as additional insureds (for both ongoing and completed operations) under the policies.

2. The additional insured coverage under CONSULTANT’S insurance policies shall be “primary and noncontributory” with respect to any insurance or coverage maintained by CITY and shall not call upon CITY'sinsurance or self-insurance coverage for any contribution. The “primary and noncontributory” coverage in CONSULTANT’S policies shall be at least as broad as ISO form CG20 01 04 13.

Revised 1/29/2020

3. Except for professional liability insurance or worker’s compensation insurance, the insurance policies shall include, in their text or by endorsement, coverage for contractual liability and personal injury.

4. By execution of this Agreement, CONSULTANT hereby grants to CITY a waiver of any right to subrogation which any insurer of CONSULTANT may acquire against CITY by virtue of the payment of any loss under such insurance. CONSULTANT agrees to obtain any endorsement that may be necessary to effect this waiver of subrogation, but this provision applies regardless of whether or not CITY has received a waiver of subrogation endorsement from the insurer.

5. If the insurance is written on a Claims Made Form, then, following termination of this Agreement, said insurance coverage shall survive for a period of not less than five years.

6. The insurance policies shall provide for a retroactive date of placement coinciding with the effective date of this Agreement.

7. The limits of insurance required in this Agreement may be satisfied by a combination of primary and umbrella or excess insurance. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and noncontributory basis for the benefit of CITY (if agreed to in a written contract or agreement) before CITY’S own insurance or self-insurance shall be called upon to protect it as a named insured.

8. It shall be a requirement under this Agreement that any available insurance proceeds broader than or in excess of the specified minimum insurance coverage requirements and/or limits shall be available to CITY or any other additional insured party. Furthermore, the requirements for coverage and limits shall be: (1) the minimum coverage and limits specified in this Agreement; or (2) the broader coverage and maximum limits of coverage of any insurance policy or proceeds available to the named insured; whichever is greater. No representation is made that the minimum Insurance requirements of this agreement are sufficient to cover the obligations of the CONSULTANT under this agreement.

C. Deductibles and SIR’s. Any deductibles or self-insured retentions in CONSULTANT's insurance policies must be declared to and approved by the PROJECT MANAGER and City Attorney and shall not reduce the limits of liability. Policies containing any self-insured retention (SIR) provision shall provide or be endorsed to provide that the SIR may be satisfied by either the named insured or CITY or other additional insured party. At CITY's option, the deductibles or self-insured retentions with respect to CITY shall be reduced or eliminated to CITY's satisfaction, or CONSULTANT shall procure a bond guaranteeing payment of losses and related investigations, claims administration, attorney's fees and defense expenses.

D. Proof of Insurance. CONSULTANT shall provide to the PROJECT MANAGER or CITY’S City Attorney all of the following: (1) Certificates of Insurance evidencing the insurance coverage required in this Agreement; (2) a copy of the policy declaration page and/or endorsement page listing all policy endorsements for the commercial general liability policy, and (3) excerpts of Revised 1/29/2020
policy language or specific endorsements evidencing the other insurance requirements set forth in this Agreement. CITY reserves the right to obtain a full certified copy of any insurance policy and endorsements from CONSULTANT. Failure to exercise this right shall not constitute a waiver of the right to exercise it later. The insurance shall be approved as to form and sufficiency by PROJECT MANAGER and the City Attorney.

11. INDEMNIFICATION.

A. Except as otherwise provided in Paragraph B., CONSULTANT shall, to the fullest extent permitted by law, indemnify, release, defend with counsel approved by CITY, and hold harmless CITY, its officers, agents, employees and volunteers (collectively, the “City Indemnitees”), from and against any claim, demand, suit, judgment, loss, liability or expense of any kind, including but not limited to attorney's fees, expert fees and all other costs and fees of litigation, (collectively “CLAIMS”), arising out of CONSULTANT’S performance of its obligations or conduct of its operations under this Agreement. The CONSULTANT's obligations apply regardless of whether or not a liability is caused or contributed to by the active or passive negligence of the City Indemnitees. However, to the extent that liability is caused by the active negligence or willful misconduct of the City Indemnitees, the CONSULTANT's indemnification obligation shall be reduced in proportion to the City Indemnitees’ share of liability for the active negligence or willful misconduct. In addition, the acceptance or approval of the CONSULTANT’s work or work product by the CITY or any of its directors, officers or employees shall not relieve or reduce the CONSULTANT’s indemnification obligations. In the event the City Indemnitees are made a party to any action, lawsuit, or other adversarial proceeding arising from CONSULTANT’S performance of or operations under this Agreement, CONSULTANT shall provide a defense to the City Indemnitees or at CITY’S option reimburse the City Indemnitees their costs of defense, including reasonable attorneys’ fees, incurred in defense of such claims.

B. Where the services to be provided by CONSULTANT under this Agreement are design professional services to be performed by a design professional as that term is defined under Civil Code Section 2782.8, then, to the extent permitted by law including without limitation, Civil Code sections 2782, 2782.6 and 2782.8, CONSULTANT shall indemnify and hold harmless the CITY and its officers, officials, and employees (collectively City Indemnitees) from and against damages, liabilities or costs (including incidental damages. Court costs, reasonable attorney’s fees as may be determined by the Court, litigation expenses and fees of expert witnesses incurred in connection therewith and costs of investigation) to the extent they are caused by the negligence, recklessness, or willful misconduct of CONSULTANT, or any subconsultants, or subcontractor or anyone directly or indirectly employed by them, or anyone for whom they are legally liable (collectively Liabilities). Such obligation to hold harmless and indemnify any indemnity shall not apply to the extent that such Liabilities are caused in part by the negligence or willful misconduct of such City Indemnitee.

C. The defense and indemnification obligations of this Agreement are undertaken in addition to, and shall not in any way be limited by, the insurance obligations contained in this Agreement, and shall survive the termination or completion of this Agreement for the full period of time allowed by law.

Revised 1/29/2020

12. NONDISCRIMINATION.

CONSULTANT shall not discriminate, in any way, against any person on the basis of age, sex, race, color, religion, ancestry, national origin or disability in connection with or related to the performance of its duties and obligations under this Agreement.

13. COMPLIANCE WITH ALL LAWS.

CONSULTANT shall observe and comply with all applicable federal, state and local laws, ordinances, codes and regulations, in the performance of its duties and obligations under this Agreement. CONSULTANT shall perform all services under this Agreement in accordance with these laws, ordinances, codes and regulations. CONSULTANT shall release, defend, indemnify and hold harmless CITY, its officers, agents and employees from any and all damages, liabilities, penalties, fines and all other consequences from any noncompliance or violation of any laws, ordinances, codes or regulations.

14. NO THIRD PARTY BENEFICIARIES.

CITY and CONSULTANT do not intend, by any provision of this Agreement, to create in any third party, any benefit or right owed by one party, under the terms and conditions of this Agreement, to the other party.

15. NOTICES.

All notices and other communications required or permitted to be given under this Agreement, including any notice of change of address, shall be in writing and given by personal delivery, or deposited with the United States Postal Service, postage prepaid, addressed to the parties intended to be notified. Notice shall be deemed given as of the date of personal delivery, or if mailed, upon the date of deposit with the United States Postal Service. Notice shall be given as follows:

TO CITY’s Project Manager: Jim Schutz, City Manager
City of San Rafael
1400 Fifth Avenue
San Rafael, CA 94901
TO CONSULTANT’s Project Director: Christine Paquette
__________________________________
__________________________________

16. INDEPENDENT CONTRACTOR.

For the purposes, and for the duration, of this Agreement, CONSULTANT, its officers, agents and employees shall act in the capacity of an Independent Contractor, and not as employees of the CITY. CONSULTANT and CITY expressly intend and agree that the status of CONSULTANT, its officers, agents and employees be that of an Independent Contractor and not Revised 1/29/2020
that of an employee of CITY.

17. ENTIRE AGREEMENT -- AMENDMENTS.

A. The terms and conditions of this Agreement, all exhibits attached, and all documents expressly incorporated by reference, represent the entire Agreement of the parties with respect to the subject matter of this Agreement.

B. This written Agreement shall supersede any and all prior agreements, oral or written, regarding the subject matter between the CONSULTANT and the CITY.

C. No other agreement, promise or statement, written or oral, relating to the subject matter of this Agreement, shall be valid or binding, except by way of a written amendment to this Agreement.

D. The terms and conditions of this Agreement shall not be altered or modified except by a written amendment to this Agreement signed by the CONSULTANT and the CITY.

E. If any conflicts arise between the terms and conditions of this Agreement, and the terms and conditions of the attached exhibits or the documents expressly incorporated by reference, the terms and conditions of this Agreement shall control.

18. SET-OFF AGAINST DEBTS.

CONSULTANT agrees that CITY may deduct from any payment due to CONSULTANT under this Agreement, any monies which CONSULTANT owes CITY under any ordinance, agreement, contract or resolution for any unpaid taxes, fees, licenses, assessments, unpaid checks or other amounts.

19. WAIVERS.

The waiver by either party of any breach or violation of any term, covenant or condition of this Agreement, or of any ordinance, law or regulation, shall not be deemed to be a waiver of any other term, covenant, condition, ordinance, law or regulation, or of any subsequent breach or violation of the same or other term, covenant, condition, ordinance, law or regulation. The subsequent acceptance by either party of any fee, performance, or other consideration which may become due or owing under this Agreement, shall not be deemed to be a waiver of any preceding breach or violation by the other party of any term, condition, covenant of this Agreement or any applicable law, ordinance or regulation.

20. COSTS AND ATTORNEY'S FEES.

The prevailing party in any action brought to enforce the terms and conditions of this Agreement, or arising out of the performance of this Agreement, may recover its reasonable costs (including claims administration) and attorney's fees expended in connection with such action.

Revised 1/29/2020

21. CITY BUSINESS LICENSE / OTHER TAXES.

CONSULTANT shall obtain and maintain during the duration of this Agreement, a CITY business license as required by the San Rafael Municipal Code CONSULTANT shall pay any and all state and federal taxes and any other applicable taxes. CITY shall not be required to pay for any work performed under this Agreement, until CONSULTANT has provided CITY with a completed Internal Revenue Service Form W-9 (Request for Taxpayer Identification Number and Certification).

22. SURVIVAL OF TERMS.

Any terms of this Agreement that by their nature extend beyond the term (or termination) of this Agreement shall remain in effect until fulfilled and shall apply to both Parties’ respective successors and assigns.

23. APPLICABLE LAW.

The laws of the State of California shall govern this Agreement.

24. COUNTERPARTS AND ELECTRONIC SIGNATURE.

This Agreement may be executed by electronic signature and in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one document.

Counterpart signature pages may be delivered by telecopier, email or other means of electronic transmission.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the day, month and year first above written.
[Signatures are on the following page.]
Revised 1/29/2020

CITY OF SAN RAFAEL CONSULTANT
______________________________ By:______________________________ JIM SCHUTZ, City Manager
Name:____________________________
Title:_____________________________
ATTEST:
[If CONSULTANT is a corporation, add signature of
second corporate officer]
______________________________
LINDSAY LARA, City Clerk
By:______________________________
APPROVED AS TO FORM: Name:____________________________
Title:_____________________________
______________________________
ROBERT F. EPSTEIN, City Attorney
ST. VINCEN T D E PAUL

S OC I ETY O F MAR I N
The City of San Rafael created a Service Support Area (SSA) on July 6th , 2021. The SSA is a temporary location for folks to receive services in a secure area. The SSA helps chronically homeless individuals engage in Intensive Case Management in a meaningful way. SSA residents can trust that they will meet with their case manager (CM) every day, and the CM has consistent access to the folks they serve
Currently, there is one Case Manager dedicated to the SSA who provides services to 17 individuals. To increase the case management pattern through adding two full time Case Managers, who would provide services EXPLICITY to SSA Residents, the City of San Rafael procured Encampment Resolution Funding Grant from the State of California. One position will be an Intensive Case Manager and a second role would be a Mental Health-Intensive Case Manager (MHC). The MHC has a laser focus on working with SSA residents to ensure they are linked into Mental Health Services. The MHC will stay connected to SSA residents when they discharge (housing or otherwise) from the SSA and keep them linked to mental wellness services. Both roles, are focused on assisting SSA residents to exit homelessness.

The services which are to be delivered include:
• Assess (VISPIDAT) the client continually along the following 822 8 Stree t PO Box 15052 7 Sa n Ra fae l CA 94915 p 415.454.30 3 f 415.454.3 406 vin nies.o rg client strengths and resources, housing needs, Cultural Identity, Behavioral Health, Medical, Social, Family Support, Education and Employment History.
• Work in partnership with the client to create an individualized plan that articulates the client's goals for housing, treatment, and documents (in case notes and HMIS systems) the specific interventions planned to assist the client to achieve these goals.
• Develop and provide (or connect to) high quality interventions and services in support of wellness and recovery.
• Provide strength-based case management, skills development, medication support, therapy, crisis intervention, and peer and family support. • Provide the type and intensity of service that the client needs to have the best opportunity for success exiting homelessness. This can mean frequent check-ins, transportation to services, addressing issues related to mental illness and/or substanceuse, enlisting stabilization and/or crisis services. • Provide Intensive case management services tailored to the individual needs and preferences of the client.
• Provide Housing location services which include, but are not limited to, determining the characteristics of a unit appropriate for a client (geographic location, community ties, safety, unit accessibility, etc.); locating potential units near public transportation and other amenities; networking and maintaining relationships with landlords; and accompanying client to open houses and housing application appointments. • Screen available units to determine the potential for a unit to pass Housing Quality Inspections (HOS) performed by the MHA.
• Assist client in securing necessary personal documentation and completing required paperwork, including "reasonable accommodation" to qualify for a MHA, or other, rental subsidy/housing voucher.
• Directly assist and work in partnership with clients to help them move into housing. This may include arranging for or directly helping the client move their items to the unit and ensuring the client is set up with basic items. • Provide housing stabilization services, such as ensuring the client can maintain a space clean enough to pass inspection, can manage their finances or is connected to a representative payee, and can navigate transportation if necessary to reach appointments related to health and benefits; and intervening with landlords if needed.
• Work collaboratively with client to mitigate tenancy issues early to help retain housing (e.g., resolving roommate or community disputes, setting boundaries around guest behavior, submitting timely rental payments, maintaining cleanliness in and around the unit, avoiding lease violations, etc.). At move-in, make attempts to meet with client weekly. Meet 60-90 days after move-in to housing to discuss client successes and any challenges. At least one of these meetings per month will be a home visit in the client's home if client permits. • Continue to meet with the client frequently after housing stabilization (likely after 60- 90 days of tenancy), as determined by their needs for clinical and housing support.

There will be home visits at least one time per month.
• Maintain contact at least once per month with the client's housing property manager to provide an opportunity to be informed of any housing challenges.

Provide clie_nt with skills training to understand their tenancy rights and fulfill their tenancy responsibilities as articulated in their lease. • Document all housing and clinical services in the client file (HMIS) within 72 hours. • Survey SSA residents at 90-day intervals to evaluate quality of services. The survey will include frequency/quality of contacts, and satisfaction. Results will be reviewed quarterly, and adjustments made swiftly.
• Provider is committed to the Housing First Principles identified below. • Provider uses a trauma-informed approach.
• Provider does not require treatment or sobriety to enter or conduct drug testing. • Provider does not prohibit program entry based on mental illness diagnosis and does not have a policy requiring medication or treatment compliance to enter. • Provider does not bar clients based on past (non-violent) rule infractions. • Provider accepts all clients regardless of sexual orientation or gender identification and follows all fair housing laws.
• Provider does not exclude persons with zero income or limited to no work history. • Provider does not terminate participants for low or no income, current or past substance use, history of domestic violence, failure to participate in supportive services, failure to make progress on a service plan, and criminal records, with the exceptions of restrictions imposed by federal, state, or local law or ordinance.

Staffing Requirement
SSA Intensive Case Manager (FTE 1.0) Provides direct service to SSA residents.

Develops individualized housing treatment goals. Interfaces with SSA partnerships to ensure the delivery of services in a safe, efficient, and consistent manner.

SSA Mental Health Intensive Case Manager-Mental Health focus (FTE 1.0) Provides direct service to SSA residents to ensure that their mental wellness and treatment needs are addressed. Collaborates with Marin County Behavioral Health and Recovery team to ensure the residents have on-demand access to Mental Health Services.

Maintains connection with SSA residents as they get housed to ensure mental wellness is addressed in an ongoing fashion.

City of San Rafael Mental Health Liaison (in-kind) Responsible for managing the provider and its partnership efforts related to the SSA.

Homeless Services Department City of San Rafael (in-kind) Responsible for ensuring contractual obligations are achieved and provides support to Provider in an on-going fashion.

Measurable objectives of Project:

By date of: Objective As measured by: Notes
8/31/2022 Monthly meetings Meeting minutes Measured at month occur to discuss end, ongoing
progress of through 6/30/2024
encampment
resolution
9/30/2022 Ninety percent of all HMIS/CES Measured at month SSA residents are end, ongoing
CES assessed and through 6/30/2024
have a documented
Housinq Plan
9/30/2022 Ninety percent of HM IS-Case Measured at month SSA residents with Management end, ongoing
a Mental Health reports and through 6/30/2024
diagnosis are linked documentation
to Mental Health
services
7/1/2024 Provider in Meeting minutes By Agenda and list conjunction with and presentation of participants
CSR presents to at
least three cities to
share outcomes
10/31/2022 Seventy-five Case management Measured at month percent of all SSA documentation end, ongoing
residents are through 6/30/2024
document-ready
4/30/2023 Seventy-five HMIS/CES Measured at month
percent of residents end, ongoing
awarded vouchers through 6/30/2024
are housed
6/30/2024 Ninety percent of HMIS Measured quarterly
SSA residents ongoing through
housed, stay 6/30/2024
housed
6/30/2024 Ninety percent of Case Management prioritized for residents who reports and conversation at BN
become unhoused documentation meetings
are reengaged
within 7 days
Budget for Encampment Resolution Funding -
Provider Salaries and Fringe
Intensive Case Manager
Mental Health Intensive Case Manager
Fringe (maximum 28%)
Total Salaries and Fringe
Provider Operational Expenses
Client Transportation
Client Hygiene
Computers ( 2)
Internet connectivity
Printer ( 1)
Subtotal
Maxium Two Year Provider Funding
City of San Rafael
Security
Administrative Expense
Subtotal

TOTAL MAXIMUM TWO YEAR FUNDING
APPROXIMATE TIME FRAME 6/1/2022-6/1/2024
140000 ($70,000 annually)
164920 ($82,460 annually)
96080 (~24% fringe)
401,000
4,800
14,400
4,000
2,400
1,000
26,600
427,600
70,133
24,886
95,019
522,619
____________________________________________________________________________________

FOR CITY CLERK ONLY
Council Meeting: _______________________
Disposition: ___________________________
Agenda Item No: 4.f
Meeting Date: June 21, 2022

SAN RAFAEL CITY COUNCIL AGENDA REPORT
Department: ECONOMIC DEVELOPMENT
Prepared by: Danielle O’Leary,
Director
Victoria Lim,
Senior Management Analyst
City Manager Approval: ______________
TOPIC: ECONOMIC DEVELOPMENT STRATEGIC PLAN
SUBJECT: RESOLUTION APPROVING AND AUTHORIZING THE CITY MANAGER TO EXECUTE

A PROFESSIONAL SERVICES AGREEMENT WITH KOSMONT COMPANIES TO

PREPARE THE CITY OF SAN RAFAEL ECONOMIC DEVELOPMENT STRATEGIC PLAN IN A NOT-TO-EXCEED AMOUNT OF $157,590
RECOMMENDATION: Adopt Resolution approving and authorizing the City Manager to execute a professional services agreement with Kosmont Companies to prepare the City of San Rafael Economic Development Strategic Plan in a total not-to-exceed amount of $157,590.

BACKGROUND:

The economic recovery efforts to support San Rafael businesses impacted by the COVID-19 pandemic has taken many iterations over the past two years. The short-term objectives were to help businesses stay afloat. Immediate relief programs included small business disaster relief grants, developing industry specific reopening protocols in partnership with the County of Marin Public Health, San Rafael Chamber of Commerce and Downtown Business Improvement District (BID), as well as promoting all federal, state, and local COVID-19 relief programs.

As the pandemic persisted, the City of San Rafael and the San Rafael Chamber of Commerce partnered to host a series of Going the Extra Mile (GEM) industry focus groups, to gain better understanding on the current challenges businesses were facing. In addition, Mayor Kate Colin conducted walkabouts throughout San Rafael’s various commercial districts to connect with business owners and provide support and updates on the city’s ongoing recovery efforts.

In January 2022, staff placed the Economic Development Strategic Plan (“EDSP”) on the Agenda for the Economic Development Subcommittee to consider and provide feedback on the EDSP’s key strategic elements and goals.

SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 2
The strategic elements defined by the Economic Development Subcommittee include the following:
• Leverage the prior work staff have done via the City’s General Plan • Provide meaningful data-driven analysis
• Create actionable multi-step plans with clear metrics for performance • Integrate technology, partnerships, and innovative thinking into the EDSP wherever possible • Leverage external partnerships, resources, funding to achieve goals The goals defined by the Economic Development Subcommittee include the following:
• Business retention, expansion, and recruitment / attraction • Workforce development strategy
• Improve public safety and beautification
ANALYSIS:

Staff conducted a nationwide search for consulting firm candidates with the best match of experience, analytical skills, technology tools, and dedicated team members and identified 10 candidate firms. The City’s economic development team conducted informal phone conversations with all 10 firms, assessing their ability to deliver an actionable EDSP incorporating the aforementioned strategic elements and goals.

From the 10 original candidate firms, 4 were selected to participate in formal interviews with an interview panel composed of Mayor Kate Colin, Chamber of Commerce President Joanne Webster, Chamber of Commerce liaison Josh Townsend, Business Improvement District Board of Directors President Jed Greene, Economic Development Department Director Danielle O’Leary, and Economic Development Department Senior Management Analyst Victoria Lim. The 4 consulting firms interviewed were Natelson Dale, Chabin Concepts, Strategic Economics, and Kosmont Companies.

The interview panel reviewed each consulting firm’s work product completed for other comparable cities as well as the detailed feedback from former client references. Upon deliberation, the panel members unanimously decided upon Kosmont Companies to recommend to the City Council for an engagement as the consulting firm to prepare the City of San Rafael’s Economic Development Strategic Plan. The interview panel determined Kosmont possesses the unique real estate focus, technology tools, and analytical horsepower to deliver insightful recommendations that will provide measurable benefits and value for the City of San Rafael’s economic vitality.

COMMUNITY OUTREACH:

Since the beginning of 2022, staff attended monthly meetings of both the Chamber of Commerce as well as the Business Improvement District Board Meetings, where members of the business community are invited and regularly attend. Staff provided updates on progress of the EDSP candidate search and selection process at these meetings. Attendees of these meetings were provided the opportunity to share their thoughts and feedback as well on important factors to include in the EDSP.

FISCAL IMPACT:

Kosmont provided a typical cost range of $75,000 to $200,000 for strategic plans prepared for other comparable cities. Based on their initial analysis and in response to staff’s request, Kosmont prepared a description of what would be included in each of approximately $75,000, $100,000, $125,000, and $150,000 cost package options. There is an additional $7,500 estimated in additional out-of-pocket expenses such as technology tool subscriptions, travel, and administrative expenses.

Staff believes the $150,090 package will deliver optimal results and aligns best with the desired strategic elements and end goals of the EDSP. Staff cross checked with the other finalist firms to check that Kosmont’s fees are within a comparable market rate and found them to be so. The cost of the SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 3
recommended $157,590 to complete the EDSP will come from the City’s American Rescue Plan Act (ARPA) funds.

OPTIONS:

The City Council has the following options to consider on this matter:

1. Adopt the Resolution as proposed by staff.

2. Adopt Resolution with modifications to the Scope of Work or Cost.

3. Reject the Resolution and direct staff to return with more information.

RECOMMENDED ACTION:

Adopt the Resolution approving and authorizing the City Manager to executive a professional services agreement with Kosmont Companies to prepare the City of San Rafael Economic Development Strategic Plan in a total not-to-exceed amount of $157,590.

ATTACHMENTS:

1. Attachment 1 - Resolution

2. Attachment 2 - Scope of work proposal submitted by Kosmont Companies

3. Attachment 3 - Cost proposal submitted by Kosmont Companies RESOLUTION NO.

RESOLUTION OF THE SAN RAFAEL CITY COUNCIL APPROVING AND AUTHORIZING THE

CITY MANAGER TO EXECUTE A PROFESSIONAL SERVICES AGREEMENT WITH

KOSMONT COMPANIES TO PREPARE THE CITY OF SAN RAFAEL ECONOMIC DEVELOPMENT STRATEGIC PLAN IN A NOT-TO-EXCEED AMOUNT OF $157,590 WHEREAS, the City of San Rafael seeks to hire a consultant to create an Economic Development Strategic Plan that will deliver insightful recommendations that provide measurable benefits and value for the City of San Rafael’s economic vitality; and WHEREAS, as detailed in the staff report for this resolution, Kosmont Companies provides the skills and experience needed to fill this role; and
WHEREAS, sufficient funds have been appropriated through the City’s American Rescue Plan funds to support this contract.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of San Rafael does hereby approve and authorize the City Manager to execute an Agreement for Professional Services, subject to final approval as to form by the City Attorney, with Kosmont Companies in a not-to-exceed amount of $157,590.

I, LINDSAY LARA, Clerk of the City of San Rafael hereby certify that the foregoing resolution was duly and regularly introduced and adopted at a regular meeting of the City Council of said City held on Tuesday, the 21st day of June 2022, by the following vote to wit:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

________________________
LINDSAY LARA, City Clerk
Kosmont Companies
Mailing Address: 1601 N. Sepulveda Blvd., #382 (424) 297-1070 Physical Address: 1230 Rosecrans Ave., #630 Manhattan Beach, CA 90266 www.kosmont.com Manhattan Beach, CA 90266 San Rafael Economic Development Strategy
Kosmont Companies Scope and Budget
Kosmont Companies (“Kosmont” or “Consultant”) is pleased to provide the following Scope of Work and Budget for an Economic Development Strategy (“Strategy”) for the City of San Rafael (“City” or “Client”).

Kosmont will prepare the Strategy based on the following tasks to address existing economic conditions, regional real estate trends and opportunities and provide tactical recommendations on business attraction, expansion, and retention through place-making recommendations and community feedback, with emphasis on both mall revitalization and needs for small business support in the City.

SCOPE:

Approach to Tasks: The prospective assignment and consulting services that Kosmont will provide will be of a relatively limited scope and duration, and advisory in nature. Kosmont will be making recommendations only, which advise the Client and jurisdictions, including its elected officials, appointed officials and staff, which they can accept or reject. None of Kosmont's staff will act in a capacity as an elected official, nor appointed official, nor as staff, nor as serving in a "designated" position.

Task 1: Kickoff Meeting
Kick-off meeting with City staff to establish communication protocols, review scope and schedule, take a tour of the City commercial and employment areas, and review key planning, budget and economic documents.

Task 2: Group Meetings
City staff / Council member / business group meetings (list to be provided by City and agreed upon by Kosmont), coordinated to be efficiently part of the kick-off meeting, to gain an overview of City goals, objectives, opportunities and challenges facing the City, its residents and business community.

Task 3: Demographic and Economic Conditions
Assessment of current demographic and economic conditions for the City and its commercial / industrial and employment districts.

Task 4: Market Assessment
Research Retail, Office, Hotel, Industrial and Apartment market data and identify site specific opportunities in the City. The market assessment will include a Strength, Weakness, Opportunities and Threat (“SWOT”) analysis of commercial districts and sites. Kosmont will work with City to identify 2-3 key districts or key sites and suggest development strategy options based on high level financial analysis.

Task 5: Community Workshops (2)
An initial community workshop to solicit feedback and public insights as to the challenges and opportunities facing residents and the business community, and provide initial overview of economic kos . compames
since 1986
City of San Rafael
Economic Development Strategy
6/13/2022
Kosmont Companies 2 | Page
(424) 297-1070
www.kosmont.com
trends and existing market conditions. Kosmont will participate in an additional workshop following further research and analysis to present preliminary findings, opportunity sites and potential recommendations and solicit feedback.

Task 6: Zoning / Policy Review
High level review of zoning and permit policies and regulations and their impact on business attraction / retention / expansion. Kosmont will consider workforce attraction / development strategies and assess marketing efforts / special events programming / social media platforms in the context of increasing daytime and overnight visitation.

Task 7: Northgate Mall
During the Strategy process, Kosmont will provide site specific market, financial and fiscal analysis related to the Northgate Mall redevelopment planned by Merlone Geier Partners. Kosmont will do case study research of successful mall revitalization strategies to provide City with options to consider for Northgate Mall revitalization.

Task 8: Economic Development Tools
Overview and feasibility analysis of key economic development / implementation tools for the City to use (e.g., Development Opportunity Reserve D.O.R.®, Sales Tax Assessment Revenue STAR*®, Community Facilities District CFD, Enhanced Infrastructure Financing District EIFD).

Task 9: Strategy
Prepare a draft Strategy in PowerPoint format within five to six months from start of assignment and make presentation to Economic Development Committee via Zoom (or alternative group as directed by City).

Kosmont will recommend a near-term and long-term action plan and establish metrics for City to measure success of the strategies. Following receipt of comments from City, Kosmont will prepare the final Strategy and make a presentation to the City Council.

It is important to note that the tasks outlined are in approximate order of completion. Kosmont will accelerate or delay certain tasks based on the outcome of community meetings and staff priorities.

Kosmont and City will mutually agree on format of meetings whether in person (up to 4) or via Zoom in consideration of available budget and expenses.

Following the completion of the Strategy, Kosmont will be available for additional contract services to assist City in evaluating development opportunities and implementation.

BUDGET
Compensation for above Tasks is not to exceed $150,090 based on Kosmont professional services (hourly) fees at Consultant’s billing rates as shown on Attachment A. Additional expenses 1) and 2) on Attachment A are estimated at $5,000 to $7,500 for a maximum total of $157,590. Future increases in budget will require approval by Client in advance. Budget may be increased by Client at any time. kos-compames
City of San Rafael
Economic Development Strategy
6/13/2022
Kosmont Companies 3 | Page
(424) 297-1070
www.kosmont.com

ATTACHMENT A
Kosmont 2022 Public Agency Fee Schedule
Professional Services
Chairman & CEO $395.00/hour
President $365.00/hour
Senior Vice President/Senior Advisor $325.00/hour
Vice President/Project Advisor $225.00/hour
Senior Project Analyst $195.00/hour
Project Analyst/Project Research $165.00/hour
Assistant Project Analyst/Assistant Project Manager $125.00/hour Project Promotion/Graphics/GIS Mapping Services $ 95.00/hour Clerical Support $ 70.00/hour
Additional Expenses
In addition to professional services (labor fees):
1) Out-of-pocket expenditures, such as travel and mileage, professional printing, and delivery charges for messenger and overnight packages will be charged at cost. 2) Project/Market data sources for support of evaluation and analysis e.g., ESRI, Placer.ai, CoStar/STR, IMPLAN and other based on quoted project cost. 3) If Kosmont retains Third Party Vendor(s) for Client (with Client’s advance approval), fees and cost will be billed to Client at 1.1X (times) fees and costs. 4) Consultant’s attendance or participation at any public meeting, whether such participation is in person, digital, video and/or telephonic (e.g., City Council, Planning Commission, Public Agency Board, other) requested by Client and are beyond those specifically identified in the Scope of Work will be billed at the professional services (hourly) fees as shown on this Attachment A.
• Charges for Court/Deposition/Expert Witness-Related Appearances Court-related (non-preparation) activities, such as court appearances, depositions, mediation, arbitration, dispute resolution and other expert witness activities, will be charged at a court rate of 1.5 times scheduled rates, with a 4-hour minimum.

Rates shall remain in effect until December 31, 2022.
kos-compames
Kosmont Companies
Mailing Address: 1601 N. Sepulveda Blvd., #382 (424) 297-1070 Physical Address: 1230 Rosecrans Ave., #630 Manhattan Beach, CA 90266 www.kosmont.com Manhattan Beach, CA 90266

CITY OF SAN RAFAEL
Kosmont Economic Development Strategy Budget
TASKS Cost /
Task
Hours /
Task
President SVP/Senior
Advisor
Vice
President
$365 $325 $225
Task 1: Kick off Meeting and
Document Review $14,980 52 12 16 24
Task 2: Group Meetings $9,150 30 10 10 10
Task 3: Demographic / Economic
Trends $13,600 48 10 14 24
Task 4: Market Assessment $19,380 68 12 24 32
Task 5: Community Workshops (2) $19,710 62 24 24 14
Task 6: Zoning / Policy Review $13,180 44 12 16 16
Task 7: Northgate Mall $19,320 64 18 24 22
Task 8: Economic Development
Tools $16,040 56 16 12 28
Task 9: Strategy Report / CC
Presentation $24,730 82 22 32 28
TOTAL BUDGET $150,090 506 136 172 198
Reimbursable Expenses $5,000 -
$7,500
Maximum TOTAL $157,590
Task budgets can be reallocated as deemed appropriate by Consultant kos . compames
since 1986
____________________________________________________________________________________

FOR CITY CLERK ONLY
Council Meeting:

Disposition:

Agenda Item No: 4.g
Meeting Date: June 21, 2022

SAN RAFAEL CITY COUNCIL AGENDA REPORT
Department: Finance
Prepared by: Nadine Atieh Hade,
Finance Director
City Manager Approval: ______________
TOPIC: CITY INVESTMENT POLICY
SUBJECT: ANNUAL REVIEW AND RESOLUTION TO APPROVE THE CITY OF SAN RAFAEL

INVESTMENT POLICY
RECOMMENDATION: Adopt the resolution approving the investment policy as presented.

BACKGROUND: Consistent with best public investing practices and the City’s investment policy, a review of the content of the investment policy is conducted annually.

The purpose of this report is to provide the City Council with an opportunity to review the City’s current cash and investment management policies, and changes recommended by the City’s investment advisor and staff, and to formally approve the policy.

In January 2005, the City engaged Cutwater Asset Management to manage the long-term portion of the City’s investment portfolio (Cutwater Asset Management transitioned to Insight Investment in 2015).

These services were suspended in December 2011 because the City did not have sufficient cash to invest long-term under this advisory structure. The growth in fund balances since that time prompted the City to revive its contract with Cutwater beginning in March 2014. One of the services that Cutwater provides is assistance with the annual review of the City’s investment policy. The policy was last reviewed on June 7, 2021.

ANALYSIS: The California Government Code limits the types of investments open to local municipalities.

The City’s investment priorities – in order - are safety, liquidity and yield. The City pursues a fair market return on its investments after considering the security of investment principal, cash flow requirements and current investment portfolio structure.

The Investment Policy for 2023 is unchanged from the 2022 Investment Policy, which added a definition for “Total Portfolio” to include all investments and deposits including funds in any money market accounts and government pools such as LAIF. The sole purpose of this is to allow for concentration limitations to be properly calculated and administered on our fixed income portfolio with Insight Investments.

SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 2
FISCAL IMPACT: There is no direct fiscal impact from accepting the policy as proposed.

RECOMMENDATION: Staff recommends that the Council adopt the resolution approving the investment policy as presented.

ATTACHMENTS:

1. Resolution

2. Exhibit A to Resolution: Investment Policy
SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 3
I CERTIFY THAT ALL INVESTMENTS MADE ARE IN CONFORMANCE WITH THE CITY’S APPROVED INVESTMENT POLICY AND STATE INVESTMENT REGULATIONS. THE CITY HAS SUFFICIENT

LIQUIDITY TO MEET ALL OF THE OBLIGATIONS REQUIRED DURING THE NEXT SIX-MONTH PERIOD.

NADINE ATIEH HADE

FINANCE DIRECTOR
RESOLUTION NO.

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL TO

APPROVE THE CITY OF SAN RAFAEL INVESTMENT POLICY
WHEREAS, the City Council of the City of San Rafael takes seriously its stewardship of the City’s public resources and City’s current cash management practices; and WHEREAS, the City’s Investment Policy requires consideration and approval of the investment policy annually; and
WHEREAS, all funds are invested in accordance with the investment policy and applicable sections of the California Government Code; and WHEREAS, the investment policy is intended to provide a long-term strategy for prudent care of the City’s cash;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of San Rafael hereby adopts the updated Investment Policy that is attached hereto as Exhibit A.

I, LINDSAY LARA, Clerk of the City of San Rafael, hereby certify that the foregoing resolution was duly and regularly introduced and adopted at a regular meeting of the City Council of said City held on Tuesday the 21st day of June 2022, by the following vote, to wit:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

LINDSAY LARA, City Clerk

Page 1 ends

City of San Rafael Investment Policy
PROPOSED June 21, 2022
The City Council of the City of San Rafael (the City) has adopted this Investment Policy (the Policy) in order to establish the investment scope, objectives, delegation of authority, standards of prudence, reporting requirements, internal controls, eligible investments and transactions, diversification requirements, risk tolerance, and safekeeping and custodial procedures for the investment of the funds of the City. All such funds will be invested in accordance with this Policy and with applicable sections of the California Government Code.

This Policy was endorsed and adopted by the City Council on the approved date noted above.

It replaces any previous investment policy or investment procedures of the City.

SCOPE
It is intended that this Policy cover all short-term operating funds and investment activities of the City. These funds are accounted for in the annual audit report, and include:
• General Fund
• Special Revenue Funds
• Debt Service Funds
• Capital Projects Funds
• Enterprise Funds
• Internal Service Funds
• Fiduciary Funds
Additional funds that may be created from time to time shall be administered in accordance with the provisions of this Policy.

All cash shall be pooled for investment purposes. The investment income derived from the pooled investment account shall be allocated to the contributing funds based upon the proportion of the respective average balances relative to the total pooled balance in the investment portfolio. Investment income shall be distributed to the individual funds not less than annually.

OBJECTIVES
The City’s funds shall be invested in compliance with all applicable City Municipal Codes, California State statutes, and Federal regulations, and in a manner designed to accomplish the following objectives, which are listed in priority order:

1. Preservation of capital and protection of investment principal.

2. Maintenance of sufficient liquidity to meet anticipated cash flows.

3. Attainment of a market value rate of return.

4. Diversification to avoid incurring unreasonable market risks.

City of San Rafael
Investment Policy
June 21, 2022

Page 2 ends

DELEGATION OF AUTHORITY
The management responsibility for the City’s investment program is delegated annually by the City Council to the Treasurer pursuant to California Government Code Section 53607.

The Treasurer may delegate the authority to conduct investment transactions and to manage the operation of the investment portfolio to other specifically authorized staff members. The Treasurer shall maintain a list of persons authorized to transact securities business for the City. No person may engage in an investment transaction except as expressly provided under the terms of this Policy.

The City Manager and the Treasurer jointly shall develop written administrative procedures and internal controls, consistent with this Policy, for the operation of the City's investment program. Such procedures shall be designed to prevent losses of public funds arising from fraud, employee error, misrepresentation by third parties, or imprudent actions by employees of the City.

The City may engage the support services of outside investment advisors in regard to its investment program, so long as it can be clearly demonstrated that these services produce a net financial advantage or necessary financial protection of the City's financial resources.

PRUDENCE
The standard of prudence to be used for managing the City's investments shall be California Government Code Section 53600.3, the prudent investor standard which states, “When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the agency.” The City's overall investment program shall be designed and managed with a degree of professionalism that is worthy of the public trust. The City recognizes that no investment is totally without risk and that the investment activities of the City are a matter of public record.

Accordingly, the City recognizes that occasional measured losses may be desirable in a diversified portfolio and shall be considered within the context of the overall portfolio's return, provided that adequate diversification has been implemented and that the sale of a security is in the best long-term interest of the City.

The Treasurer and authorized investment personnel acting in accordance with written procedures and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided that the deviations from expectations are reported in a timely fashion to the City Manager and appropriate action is taken to control adverse developments.

City of San Rafael
Investment Policy
June 21, 2022

Page 3 ends

ETHICS AND CONFLICTS OF INTEREST
Elected officials and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program or that could impair or create the appearance of an impairment of their ability to make impartial investment decisions. Employees and investment officials shall disclose to the City Manager any business interests they have in financial institutions that conduct business with the City and they shall subordinate their personal investment transactions to those of the City. In addition, the City Manager and the Treasurer shall file a Statement of Economic Interests each year pursuant to California Government Code Section 87203 and regulations of the Fair Political Practices Commission.

AUTHORIZED SECURITIES AND TRANSACTIONS
All investments and deposits of the City shall be made in accordance with California Government Code Sections 16429.1, 53600-53609 and 53630-53686, except that, pursuant to California Government Code Section 5903(e), proceeds of bonds and any moneys set aside or pledged to secure payment of the bonds may be invested in securities or obligations described in the ordinance, resolution, indenture, agreement, or other instrument providing for the issuance of the bonds. Any revisions or extensions of these code sections will be assumed to be part of this Policy immediately upon being enacted. However, in the event that amendments to these sections conflict with this Policy and past City investment practices, the City may delay adherence to the new requirements when it is deemed in the best interest of the City to do so. In such instances, after consultation with the City’s attorney, the City Manager and the Treasurer will present a recommended course of action to the City Council for approval. In accordance with California Government Code listed above, the “Total Portfolio” includes all investments and deposits including funds in any money market accounts and governmental pools such as LAIF. Any percentage limitations are deemed to be calculated on the “Total Portfolio” and are measured based on the cost of the investment at the time of purchase.

The City has further restricted the eligible types of securities and transactions as follows:

1. United States Treasury bills, notes and bonds with a final maturity not exceeding five years from the date of trade settlement.

2. Federal Agency securities with a final maturity not exceeding five years from the date of trade settlement.

3. Federal Instrumentality (government sponsored enterprise) debentures, discount notes, callable and step-up securities, with a final maturity not exceeding five years from the date of trade settlement.

4. Mortgage and Asset-Backed Obligations: Any mortgage pass-through security, collateralized mortgage obligation, mortgage-backed or other pay-through bond, equipment lease-backed certificate, consumer receivable-pass-through certificate, or consumer receivable-backed bond with a final maturity not exceeding five years from the date of trade settlement. Investments in mortgage and asset-backed obligations shall be City of San Rafael
Investment Policy
June 21, 2022

Page 4 ends

issued by an issuer rated at least “A” or the equivalent by a nationally recognized statistical rating organization (NRSRO) and the security shall be rated at least “AA” or the equivalent by a NRSRO. Purchases of securities authorized by this section may not exceed 20% of the City’s total portfolio.

5. Supranational Securities: United States dollar denominated, senior unsecured and unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development, International Finance Corporation, or InterAmerican Development Bank, with a maximum maturity not exceeding five years from the date of trade settlement, and eligible for purchase and sale within the United States.

Investments in supranational securities shall be rated at least “AA” or the equivalent by a NRSRO and shall not exceed 15% of the City’s total portfolio.

6. Medium-Term Notes issued by corporations organized and operating within the United States or by depository institutions licensed by the United States or any state and operating within the United States, with a final maturity not exceeding five years from the date of trade settlement, and rated at least “A” or the equivalent by a NRSRO. No more than 5% of the portfolio shall be invested in medium-term notes of any one issuer, and the aggregate investment in medium-term notes shall not exceed 30% of the City’s total portfolio.

7. Negotiable Certificates of Deposits (CDs) of commercial banks rated at least A-1, or the equivalent, with maturities not exceeding five years from the date of trade settlement. In addition, the City may not invest in the CD of a state or federal credit union where any person with investment decision making authority at the City also serves on the board of directors, or any committee appointed by the board of directors, or the credit committee or the supervisory committee of the state or federal credit union issuing the negotiable certificates of deposit. No more than 5% of the portfolio may be invested in the CDs of any one issuer, and the aggregate investment in CDs shall not exceed 30% of the portfolio.

8. Non-negotiable Certificates of Deposit and savings deposits with a maturity not exceeding five years from the date of trade settlement, in FDIC insured state or nationally chartered banks or savings banks that qualify as a depository of public funds in the State of California as defined in California Government Code Section 53630.5. No more than 5% of the portfolio may be invested in the CDs of any one issuer, and the aggregate investment in CDs shall not exceed 30% of the portfolio.

Deposits in excess of the insured amount shall be secured pursuant to California Government Code Section 53651 and 53652. The City shall comply with and act to secure compliance with the security (collateralization) system specified in the Government Code Section 53649 and 56652.

Deposits may be placed using a private sector entity that assists in the placement of deposits per section 53601.8 and 53635.8 in the Government Code. No more than 5% of the portfolio may be invested through any one private sector entity that assists in the placement of such deposits and the aggregate investment in CDs shall not exceed 30% of the portfolio.

City of San Rafael
Investment Policy
June 21, 2022

Page 5 ends

9. Special Assessment District Obligations issued by the City of San Rafael as Limited Obligation Improvement Bonds related to special assessment districts and special tax districts. Investment in such obligations requires the approval of the City Council and maturities may extend to 30 years from the date of trade settlement.

10. Prime Commercial Paper with a maturity not exceeding 270 days from the date of purchase with the highest ranking or of the highest letter and number rating as provided for by a NRSRO. The entity that issues the commercial paper shall meet all of the following conditions in either sub-paragraph A. or sub-paragraph B. below:

A. The entity shall (1) be organized and operating in the United States as a general corporation, (2) have total assets in excess of five $500,000,000 and (3) Have debt other than commercial paper, if any, that is rated “A” or higher by a NRSRO.

B. The entity shall (1) be organized within the United States as a special purpose corporation, trust, or limited liability company, (2) have program-wide credit enhancements, including, but not limited to, over collateralization, letters of credit or surety bond and (3) have commercial paper that is rated “A-1” or higher, or the equivalent, by a NRSRO.

Purchases of eligible commercial paper may not represent more than 10% of the outstanding commercial paper of any single corporate issuer. No more than 5% of the City’s total portfolio, shall be invested in the commercial paper of any one issuer, and the aggregate investment in commercial paper shall not exceed 25% of the City’s total portfolio.

11. Eligible Banker’s Acceptances issued by FDIC insured commercial banks, rated at least A-1 or the equivalent by a NRSRO with maturities not exceeding 180 days from the date of purchase. If issuers have senior debt outstanding, it shall be rated at least A or the equivalent by a NRSRO. No more than $2,000,000 shall be invested in banker’s acceptances of any one commercial bank, and the aggregate investment in banker’s acceptances shall not exceed 40% of the City’s total portfolio.

12. Repurchase Agreements with a final termination date not exceeding one year collateralized by U.S. Treasury obligations, Federal Agency securities, or Federal Instrumentality securities listed in items 1, 2 and 3 above with the maturity of the collateral not exceeding five years. For the purpose of this section, the term collateral shall mean purchased securities under the terms of the City’s approved Master Repurchase Agreement. The purchased securities shall have a minimum market value including accrued interest of 102% of the dollar value of the funds borrowed. Collateral shall be held in the City's custodian bank, as safekeeping agent, and the market value of the collateral securities shall be marked-to-the-market daily.

Repurchase Agreements shall be entered into only with broker/dealers who are recognized as Primary Dealers by the Federal Reserve Bank of New York or have a primary dealer within their holding company structure. Repurchase agreement counterparties shall execute a City approved Master Repurchase Agreement with the City.

City of San Rafael
Investment Policy
June 21, 2022

Page 6 ends

The Treasurer shall maintain a copy of the City's approved Master Repurchase Agreement along with a list of the broker/dealers who have executed same.

13. State of California’s Local Agency Investment Fund (LAIF), pursuant to California Government Code Section 16429.1.

14. Money Market Funds registered under the Investment Company Act of 1940 that (1) are “no-load” (meaning no commission or fee shall be charged on purchases or sales of shares); (2) have a constant daily net asset value per share of $1.00; (3) invest only in United States Treasury securities, United States Agency securities and Federal Instrumentality securities and (4) have a rating of at least AAA or the equivalent by at least two NRSROs. The aggregate investment in money market funds shall not exceed 10% of the City’s total portfolio.

It is the intent of the City that the foregoing list of authorized securities and transactions is strictly interpreted. Any deviation from this list must be preapproved by resolution of the City Council.

PORTFOLIO MATURITIES AND LIQUIDITY
To the extent possible, investments shall be matched with anticipated cash flow requirements and known future liabilities. The City will not invest in securities maturing more than five years from the date of purchase, unless the City Council has by resolution granted authority to make such an investment at least three months prior to the date of investment.

SELECTION OF BROKER/DEALERS
The Treasurer shall maintain a list of broker/dealers authorized for investment purposes, and it shall be the policy of the City to purchase securities only from those authorized firms. To be eligible, a firm must be licensed by the State of California as a broker/dealer as defined in Section 25004 of the California Corporations Code, and:

1. be recognized as a Primary Dealer by the Federal Reserve Bank of New York or have a primary dealer within its holding company structure, or

2. report voluntarily to the Federal Reserve Bank of New York, or

3. qualify under Securities and Exchange Commission (SEC) Rule 15c3-1 (Uniform Net Capital Rule).

The City may engage the services of investment advisory firms to assist in the management of the portfolio and investment advisors may utilize their own list of approved Broker/Dealers.

Such Broker/Dealers will comply with the selection criteria above and the list of approved firms shall be provided to the City on an annual basis or upon request.

City of San Rafael
Investment Policy
June 21, 2022

Page 7 ends

In the event that an external investment advisor is not used in the process of recommending a particular transaction in the City’s portfolio, authorized broker/dealers shall attest in writing that they have received and reviewed a copy of this policy and annually update a City approved Broker/Dealer Information Request form which includes the firm's most recent financial statements. The Treasurer shall maintain a list of the broker/dealers that have been approved by the City, along with each firm's most recent broker/dealer Information Request form.

The City may purchase commercial paper from direct issuers even though they are not on the approved broker/dealer list as long as they meet the criteria outlined in Item 5 of the Authorized Securities and Transactions section of this Policy.

COMPETITIVE TRANSACTIONS
Each investment transaction shall be competitively transacted with authorized broker/dealers.

At least three broker/dealers shall be contacted for each transaction and their bid and offering prices shall be recorded.

If the City is offered a security for which there is no other readily available competitive offering, the Treasurer will document quotations for comparable or alternative securities.

SELECTION OF BANKS
The Treasurer shall maintain a list of banks that are approved to provide banking services for the City. To be eligible for authorization, a bank must be a member of the FDIC and shall qualify as a depository of public funds in the State of California as defined in California Government Code Section 53630.5.

SAFEKEEPING AND CUSTODY
The Treasurer shall select one or more banks to provide safekeeping and custodial services for the City, in accordance with the provisions of Section 53608 of the California Government Code. A Safekeeping Agreement approved by the City shall be executed with each custodian bank prior to utilizing that bank's safekeeping services. Custodian banks will be selected on the basis of their ability to provide services for the City's account and the competitive pricing of their safekeeping related services.

The purchase and sale of securities and repurchase agreement transactions shall be settled on a delivery versus payment basis. All securities shall be perfected in the name of the City.

Sufficient evidence to title shall be consistent with modern investment, banking and commercial practices.

All investment securities purchased by the City will be delivered by book entry and will be held in third-party safekeeping by a City approved custodian bank, or its Depository Trust Company (DTC) participant account.

City of San Rafael
Investment Policy
June 21, 2022

Page 8 ends

The City’s custodian shall be required to furnish the City a list of holdings on at least a monthly basis and safekeeping receipts or customer confirmations shall be issued for each transaction.

PORTFOLIO PERFORMANCE
The investment portfolio shall be designed to attain a market rate of return throughout budgetary and economic cycles, taking into account prevailing market conditions, risk constraints for eligible securities, and cash flow requirements. The performance of the City’s investments shall be compared to the average yield on the U.S. Treasury security that most closely corresponds to the portfolio’s actual weighted average effective maturity. When comparing the performance of the City’s portfolio, its rate of return will be computed net of all fees and expenses.

REPORTING
On a quarterly basis, the Treasurer shall submit to the Council a report of the investment earnings and performance results of the City’s investment portfolio. The report shall include the following information:

1. Investment type, issuer, date of purchase, purchase price, date of maturity, par value, current rate of interest and dollar amount invested in all securities, and investments and monies held by the City;

2. A description of the funds, investments and programs;

3. A market value as of the date of the report (or the most recent valuation as to assets not valued monthly) and the source of the valuation;

4. Overall portfolio yield based on historical cost;

5. Weighted average final maturity and weighted average effective maturity;

6. A statement of compliance with this Policy or an explanation for not-compliance;

7. A description of any of the City's funds, investments or programs that are under the management of contracted parties, including lending programs; and

8. A statement of the ability to meet expenditure requirements for six months, as well as an explanation of why money will not be available if that is the case.

The Treasurer shall submit to the Council a report of any changes affecting more than 15% of the investment portfolio within 30 days of such change.

POLICY REVIEW
This Investment Policy shall be reviewed and approved by City Council annually to ensure its consistency with the overall objectives of preservation of principal, liquidity, yield and diversification and its relevance to current law and economic trends. Any additional amendments to this Investment Policy shall be submitted to the City Council for approval. ____________________________________________________________________________________

FOR CITY CLERK ONLY
Council Meeting:

Disposition:

Agenda Item No: 4.h
Meeting Date: June 21, 2022

SAN RAFAEL CITY COUNCIL AGENDA REPORT
Department: Finance
Prepared by: Nadine Atieh Hade,
Finance Director
City Manager Approval: ______________
TOPIC: CITY QUARTERLY INVESTMENT REPORT
SUBJECT: ACCEPTANCE OF CITY OF SAN RAFAEL QUARTERLY INVESTMENT REPORT FOR THE QUARTER ENDING MARCH 31, 2022
RECOMMENDATION: Accept investment report for the quarter ending March 31, 2022, as presented.

BACKGROUND: Pursuant to the State of California Government Code Section 53601 and the City’s investment policy, last approved by the City Council on June 7, 2021, staff provides the City Council with a quarterly report on the City's investment activities and liquidity. Included in the report are the cost of each investment, the interest rates (yield), maturity dates, and market value. Separate reports are prepared for the City and the Successor Agency to San Rafael Redevelopment Agency.

The City invests a portion of its pooled funds in the Local Agency Investment Fund (LAIF), a State-run investment pool. Beginning in March 2014, the City incorporated an investment strategy that added purchases of securities outside of LAIF with the assistance of its investment advisor, Insight Investment.

ANALYSIS: As of March 31, 2022, the primary LAIF account had a balance of $36,525,312. Portfolio returns on LAIF deposits were 0.37% for the quarter ending March 31, 2022. The remaining investment assets include the $1,159,300 balance of Pt. San Pedro Assessment District bonds, and $43,887,630 in government agency securities and corporate bonds (including JP Morgan Chase, Walmart Inc., Apple Inc., American Honda Finance, Chevron, Procter Gamble Co., Toyota, Caterpillar, Bank of America, Toyota, John Deere, Citibank, PNC Financial Services, US Bancorp, IBM Corp, 3M Company, PepsiCo, and Pfizer). The overall total portfolio returns for the quarter ending March 31, 2022 were 0.55%.

The City’s Westamerica general operating bank account had a balance of $8,121,649 at quarter end.

Exhibit A is composed of three parts: (1) Quarterly Investment Portfolio Report; (2) Historical Activity by Quarter summarizing the City’s investments; and (3) the three monthly investment reports from Insight Investment for the quarter.

FISCAL IMPACT: No financial impact occurs by adopting the report. The City continues to meet the priority principles of investing - safety, liquidity and yield in respective order. The portfolio remains SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 2
conservatively invested. Sufficient liquidity exists to meet daily operating and capital project requirements for the next six months. Operating funds, as defined for this report, exclude cash held with fiscal agents for the payment of bond principal and interest.

RECOMMENDATION: Accept investment report for the quarter ending March 31, 2022, as presented.

ATTACHMENTS:

Exhibit A:

1. Quarterly Investment Portfolio Report

2. Historical Activity by Quarter Report

3. Insight Investment Statements, January through March 2022 SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 3
I CERTIFY THAT ALL INVESTMENTS MADE ARE IN CONFORMANCE WITH THE CITY’S APPROVED INVESTMENT POLICY AND STATE INVESTMENT REGULATIONS. THE CITY HAS SUFFICIENT

LIQUIDITY TO MEET ALL OF THE OBLIGATIONS REQUIRED DURING THE NEXT SIX-MONTH PERIOD.

NADINE ATIEH HADE

FINANCE DIRECTOR
% Return
LAIF 36,525,312 $       97.5% 0.37%
LAIF ‐ RDA 155,252 $             0.4% 0.37%
LAIF ‐ RDA 02 TARB 770,363 $             2.1% 0.37%
Total Internally Managed 37,450,927 $       45.4%
Weighted Average Yield 0.37%
Days
Effective Average Duration ‐ Internal 1
Weighted Average Maturity ‐ Internal 1
% Return
Cash $              34,607 0.1% 0.02%
Treasury Securities 19,322,375 $       42.9% 0.54%
Instrumentality Securities 11,081,069 $       24.6% 0.95% Corporate Notes 13,449,548 $       29.9% 0.69%
Municipal 1,159,300 $          2.6% 5.25%
Total Externally Managed 45,046,900 $       54.6%
Weighted Average Yield 0.81%
Years
Effective Average Duration ‐ External 1.56
Weighted Average Maturity ‐ External 1.72
Total Portfolio Assets % Return
LAIF 37,450,927 $       45.4% 0.37%
Cash 34,607 $               0.0% 0.02%
Treasury Securities 19,322,375 $       23.4% 0.54%
Instrumentality Securities 11,081,069 $       13.4% 0.95% Corporate Notes 13,449,548 $       16.3% 0.69%
Municipal 1,159,300 $          1.4% 5.25%
Total Portfolio Assets 82,497,827 $
Weighted Average Yield 0.61%
Years
Effective Average Duration ‐ Total 0.85
Weighted Average Maturity ‐ Total 0.94
Based on Market Values
March 31, 2022
City of Rafael
Quarterly Investment Portfolio Report
Externally Managed Assets
Internally Managed Assets
LAIF, 97.5%
LAIF ‐ RDA, 0.4%
LAIF ‐ RDA 02
TARB, 2.1%
Cash , 0.1%
Treasury
Securities,

42.9%
Instrumentality
Securities,

24.6%
Corporate
Notes, 29.9% Municipal, 2.6%
LAIF
45%
Cash
0%
Treasury
Securities
24%
Instrumentality
Securities
14%
Corporate Notes
16% Municipal
1%
Exhibit A
Internally Managed Assets % Return % Return % Return % Return % Return % Return LAIF 37,295,675 $ 99.6% 0.37% 37,272,941 $ 99.6% 0.21% 40,246,878 $ 99.6% 0.21% 45,213,641 $ 99.7% 0.26% 40,171,329 $ 99.6% 0.36% 35,129,481 $ 99.6% 0.54% LAIF ‐ Housing 155,252 $ 0.4% 0.37% 155,163 $ 0.4% 0.21% 155,068 $ 0.4% 0.21% 154,942 $ 0.3% 0.26% 154,773 $ 0.4% 0.36% 154,528 $ 0.4% 0.54% Total Internally Managed 37,450,927 $ 45.4% $ 37,428,104 45.0% $ 40,401,946 54.7% $ 45,368,583 57.5% $ 40,326,102 65.2% $ 35,284,009 61.5% Weighted Average Yield 0.37% 0.21% 0.21% 0.26% 0.36% 0.54% Externally Managed Assets % Return % Return % Return % Return % Return % Return Cash $ 34,607 3.0% 0.02% 160,462 $ 0.4% 0.02% 106,899 $ 9.2% 0.02% 56,088 $ 0.2% 0.01% 260,338 $ 21.0% 0.01% 278,791 $ 22.5% 0.01% Treasury Securities 19,322,375 $ 42.9% 0.54% 17,936,293 $ 39.2% 0.51% 6,202,242 $ 18.5% 0.69% 4,439,182 $ 13.3% 0.70% 1,455,053 $ 6.8% 1.54% 1,464,113 $ 6.6% 1.54% Instrumentality Securities 11,081,069 $ 24.6% 0.95% 12,774,395 $ 27.9% 1.09% 12,058,266 $ 36.1% 1.23% 13,695,843 $ 40.9% 1.21% 11,757,213 $ 54.6% 1.54% 12,320,155 $ 55.9% 1.58% Corporate Notes 13,449,548 $ 29.9% 0.69% 13,782,838 $ 30.1% 0.65% 13,918,907 $ 41.6% 0.66% 14,048,276 $ 42.0% 0.68% 6,830,936 $ 31.7% 1.40% 6,747,102 $ 30.6% 2.02%Municipal/Assessment District 1,159,300 $ 2.6% 5.25% 1,159,300 $ 2.5% 5.25% 1,159,300 $ 3.5% 5.25% 1,239,200 $ 3.7% 5.25% 1,239,200 $ 5.8% 5.25% 1,239,200 $ 5.6% 5.25% Total Externally Managed 45,046,900 $ 54.6% $ 45,813,288 55.0% $ 33,445,614 45.3% $ 33,478,588 42.5% $ 21,542,739 34.8% $ 22,049,361 38.5% Weighted Average Yield 0.81% 0.83% 1.03% 1.07% 1.69% 1.90% Years Years Years Years Years Years
Effective Average Duration ‐ External 1.56 1.68 1.91 2.02 1.90 1.91 Weighted Average Maturity ‐ External 1.72 1.87 2.26 2.39 2.32 2.22 Total Portfolio Assets % Return % Return % Return % Return % Return % Return LAIF 37,450,927 $ 45.4% 0.37% 37,428,104 $ 45.0% 0.21% 40,401,946 $ 54.7% 0.21% 45,368,583 $ 57.5% 0.26% 40,326,102 $ 65.2% 0.36% 35,284,009 $ 61.5% 0.54% Cash 34,607 $ 0.0% 0.02% 160,462 $ 0.2% 0.02% 106,899 $ 0.1% 0.02% 56,088 $ 0.1% 0.01% 260,338 $ 0.4% 0.01% 278,791 $ 0.5% 0.01% Treasury Securities 19,322,375 $ 23.4% 0.54% 17,936,293 $ 21.5% 0.51% 6,202,242 $ 8.4% 0.69% 4,439,182 $ 5.6% 0.70% 1,455,053 $ 2.4% 1.54% 1,464,113 $ 2.6% 1.54% Instrumentality Securities 11,081,069 $ 13.4% 0.95% 12,774,395 $ 15.3% 1.09% 12,058,266 $ 16.3% 1.23% 13,695,843 $ 17.4% 1.21% 11,757,213 $ 19.0% 1.54% 12,320,155 $ 21.5% 1.58% Corporate Notes 13,449,548 $ 16.3% 0.69% 13,782,838 $ 16.6% 0.65% 13,918,907 $ 18.8% 0.66% 14,048,276 $ 17.8% 0.68% 6,830,936 $ 11.0% 1.40% 6,747,102 $ 11.8% 2.02% Municipal/Assessment District 1,159,300 $ 1.4% 5.25% 1,159,300 $ 1.4% 5.25% 1,159,300 $ 1.6% 5.25% 1,239,200 $ 1.6% 5.25% 1,239,200 $ 2.0% 5.25% 1,239,200 $ 2.2% 5.25% $ 82,497,826 $ 83,241,391 $ 73,847,559 $ 78,847,170 $ 61,868,840 $ 57,333,369 Total Portfolio Assets
Weighted Average Yield 0.61% 0.55% 0.58% 0.60% 0.82% 1.06% Years Years Years Years Years Years
Effective Average Duration ‐ Total 0.85 0.93 0.87 0.86 0.66 0.74 Weighted Average Maturity ‐ Total 0.94 1.03 1.03 1.02 0.81 0.86 Performance Recap‐The weighted average quarterly portfolio yield increased from 0.55% to 0.61% during the past quarter. Yields are beginning to rise as the Federal Reserve increases interest rates to combat inflation. ‐The effective average duration decreased, from 0.93 to 0.85 years since last quarter. ‐The total portfolio assets decreased by approximately $744 thousand during the quarter. This is reflective of losses on the fair value of fixed income securities purchased in December, when interest rates were at their lowest.

March 31, 2022
City of San Rafael
Historical Activity‐By Quarter
December 31, 2021 September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 W:\Accounting and Budgeting\Finance\Bank Reconciliations\Statements\21‐22\09 ‐ March 2022\Insight‐Quarterly Report combined 03‐31‐22

FOR PROFESSIONAL CLIENTS ONLY
NOT TO BE REPRODUCED WITHOUT PRIOR WRITTEN APPROVALPLEASE REFER TO ALL RISK DISCLOSURES AT THE BACK OF THIS DOCUMENTSAN RAFAELJanuary 2022 Contents
Fixed income market review 3Activity and performance summary 4Recap of securities held 6Maturity distribution of securities held 7Securities held 8GASB 40 - Deposit and investment risk disclosure 13Securities purchased 18Securities sold and matured 19Detail of return and interest received 20Transaction report 24Additional information 25

FIXED INCOME MARKET REVIEW
As of January 31, 2022

SAN RAFAEL
Chart 1: Inflation hits another multi-decade highSource: Bloomberg, January 31, 2022Chart 2: Unemployment rate is back around pre-pandemic lowsSource: Bloomberg, January 31, 2022 Economic Indicators and Monetary PolicyThe Federal Reserve (Fed) consolidated its hawkish pivot despite a volatile start to theyear for risk assets. It guided heavily toward a policy rate ‘lift off’ in March. ChairPowell also made clear the central bank’s intent to be ‘nimble’, indicating the hikingcycle will be implemented dynamically based on economic data with potentially lessclear forward guidance.The Fed also released principles for reducing the size of its balance sheet. Although itdid not provide a concrete timeframe for this quantitative tightening, it indicated thatgiven the sheer size of its balance sheet, it will allow assets to roll off its balance sheetfaster in absolute terms than it did in the last cycle. The Fed also indicated its policywill be to roll off its mortgage-backed securities (MBS) holdings faster than itsTreasury holdings.Headline CPI reached 7%, the highest since 1982 (Chart 1) and core inflation onceagain set a new post-1991 high at 5.5%. Although energy prices had reversedsomewhat, supply chains remained a factor, with used and new car price inflationremaining high. In terms of ‘sticky’ categories, shelter inflation was 0.4% month-onmonth, a significant level, but not an acceleration over the previous month.The labor market continued to tighten, with the Fed characterizing it as havingreached ‘maximum employment’ levels. The unemployment rate unexpectedly fellbelow 4% for the first time since the pandemic, leaving it comparable with prepandemic levels (Chart 2). Payrolls were below expectations for 450,000 at 199,000,but this was partially offset by 141,000 upward revisions to the prior two months.Wage growth was also stronger than expected, at 4.7% pa and broad-based, unlike inprevious months when it was more concentrated within the leisure and hospitalitysector.Interest Rate SummaryYields rose across the curve, particularly at the front end. At the end of December, the3-month US Treasury bill yielded 0.19%, the 6-month US Treasury bill yielded 0.47%,the 2-year US Treasury note yielded 1.18%, the 5-year US Treasury note yielded 1.61%and the 10-year US Treasury note yielded 1.78%. 3 10
8 6
4 2
0 -2
-4
1982 1985 1988 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 --CPI - - - Current level
16 14
12 10
8 6
4 2
0 2015 2016 2017 2018 2019 2020 2021
---Unemployment rate{%) - - - Current level

ACTIVITY AND PERFORMANCE SUMMARY
For the period January 1, 2022 - January 31, 2022

SAN RAFAEL
Amortized Cost Basis Activity Summary
Opening balance 45,887,530.59
Income received 78,309.22
Total receipts 78,309.22
Expenses paid (250.00)
Total disbursements (250.00)
Interportfolio transfers 0.00
Total Interportfolio transfers 0.00
Realized gain (loss) 0.00Change in accruals from security movement 0.00 Total amortization expense (37,518.81)Total OID/MKT accretion income 1,217.92 Return of capital 0.00
Closing balance 45,929,288.92Ending fair value 45,559,662.52 Unrealized gain (loss) (369,626.40)
Comparative Rates of Return (%)
* Twelve
month trailing
* Six
month trailing
* One month
Fed Funds 0.08 0.04 0.01Overnight Repo 0.04 0.02 0.00Merrill Lynch 3m US Treas Bill 0.03 0.02 0.01Merrill Lynch 6m US Treas Bill 0.06 0.04 0.02ML 1 Year US Treasury Note 0.14 0.11 0.05ML 2 Year US Treasury Note 0.34 0.25 0.08ML 5 Year US Treasury Note 0.95 0.56 0.13 * rates reflected are cumulative
Summary of Amortized Cost Basis Return for the Period
Total portfolio
Interest earned 67,105.83Accretion (amortization) (36,300.89)Realized gain (loss) on sales 0.00Total income on portfolio 30,804.94Average daily amortized cost 45,902,677.76Period return (%)Weighted average final maturity in days 677YTD return (%) Detail of Amortized Cost Basis Return
Interest
earned
Realized
gain (loss)
Accretion
(amortization)
Total
income
Cash and Cash Equivalents 10.98 0.00 10.98 0.00Corporate Bonds 31,088.91 (24,094.16) 6,994.75 0.00Government Agencies 13,932.28 (3,797.88) 10,134.40 0.00Government Bonds 17,001.73 (8,408.85) 8,592.88 0.00Municipal/Provincial Bonds 5,071.93 0.00 5,071.93 0.00Total 67,105.83 (36,300.89) 0.00 30,804.94

0.070.07
4 ACTIVITY AND PERFORMANCE SUMMARY
For the period January 1, 2022 - January 31, 2022

SAN RAFAEL
Fair Value Basis Activity Summary
Opening balance 45,813,287.78
Income received 78,309.22
Total receipts 78,309.22
Expenses paid (250.00)
Total disbursements (250.00)
Interportfolio transfers 0.00
Total Interportfolio transfers 0.00
Unrealized gain (loss) on security movements 0.00Change in accruals from security movement 0.00Return of capital 0.00Change in fair value for the period (331,684.48) Ending fair value 45,559,662.52
Comparative Rates of Return (%)
* Twelve
month trailing
* Six
month trailing
* One month
Fed Funds 0.08 0.04 0.01Overnight Repo 0.04 0.02 0.00ICE Bofa 3 Months US T-BILL 0.04 0.01 0.00ICE Bofa 6m US Treas Bill 0.03 (0.02) (0.05)ICE Bofa 1 Yr US Treasury Note (0.36) (0.46) (0.26)ICE BofA US Treasury 1-3 (1.22) (1.29) (0.65)ICE BofA US Treasury 1-5 (1.94) (1.92) (0.89) * rates reflected are cumulative
Detail of Fair Value Basis Return
Interest
earned
Change in
fair value
Total
income
Cash and Cash Equivalents 10.98 0.00 10.98Corporate Bonds 31,088.91 (126,802.96) (95,714.05)Government Agencies 13,932.28 (81,943.88) (68,011.60)Government Bonds 17,001.73 (122,937.64) (105,935.91)Municipal/Provincial Bonds 5,071.93 0.00 5,071.93Total 67,105.83 (331,684.48) (264,578.65) Summary of Fair Value Basis Return for the Period
Total portfolio
Interest earned 67,105.83Total income on portfolio (264,578.65)Average daily total value * 45,914,807.68Period return (%) (0.57)Weighted average final maturity in days 677Change in fair value (331,684.48)YTD return (%) (0.57)* Total value equals market value and accrued interest 5 RECAP OF SECURITIES HELD
As of January 31, 2022

SAN RAFAEL
Weighted
average
final
maturity (days)
Weighted
average
effective
duration (years)
Percent
of
portfolio
Amortized
cost
Historical
cost
Fair value Unrealized
gain (loss)
Cash and Cash Equivalents 87,085.56 87,085.56 87,085.56 0.00 1 0.19 0.00Corporate Bonds 14,061,812.40 13,835,233.23 13,674,816.36 (160,416.87) 653 30.40 1.54Government Agencies 11,168,172.27 11,093,292.05 11,042,450.80 (50,841.25) 572 24.14 1.49Government Bonds 19,785,860.59 19,754,378.08 19,596,009.80 (158,368.28) 569 42.77 1.54Municipal/Provincial Bonds 1,159,300.00 1,159,300.00 1,159,300.00 0.00 3,867 2.51 8.07Total 46,262,230.82 45,929,288.92 45,559,662.52 (369,626.40) 677 100.00 1.69 Cash and Cash EquivalentsCorporate BondsGovernment AgenciesGovernment BondsMunicipal/Provincial Bonds Portfolio diversification (%)
Cash and Cash Equivalents 0.19Corporate Bonds 30.40Government Agencies 24.14Government Bonds 42.77Municipal/Provincial Bonds 2.51 Portfolio diversification (%)
6 Total 100.00

MATURITY DISTRIBUTION OF SECURITIES HELD
As of January 31, 2022

SAN RAFAEL
Maturity Historic cost PercentUnder 90 days 1,718,991.56 3.7290 to 179 days 2,260,896.21 4.89180 days to 1 year 6,846,832.80 14.801 to 2 years 21,252,081.45 45.942 to 3 years 13,024,128.80 28.153 to 4 years 0.00 0.004 to 5 years 0.00 0.00Over 5 years 1,159,300.00 2.51 46,262,230.82 100.00
Maturity distribution

0.005.00

10.0015.0020.0025.00
Historical cost (mm)
Under 90 days
90 to 179 days
180 days to 1 year
1 to 2 years
2 to 3 years
3 to 4 years
4 to 5 years
Over 5 years
7 SECURITIES HELD
As of January 31, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Cash and Cash Equivalents
Cash and Cash Equivalents 0.000 87,085.56 87,085.56 87,085.56 0.00 0.00 0.19 87,085.56 Total Cash and Cash Equivalents 87,085.56 87,085.56 87,085.56 87,085.56 0.00 0.19 0.00Corporate Bonds46647PBB1 3.207 04/01/2023 615,576.00 602,887.95 (919.85) 6,414.00 04/01/2022
JPMORGAN CHASE & CO 3.207% 01APR2023 (CALLABLE 600,000.00 601,968.10 1.3301APR22) 931142DH3 2.550 04/11/2023 509,155.00 502,612.43 4,461.69 3,895.83 01/11/2023
WALMART INC 2.55% 11APR2023 (CALLABLE 11JAN23) 500,000.00 507,074.12 1.10 037833AK6 APPLE INC 2.4% 03MAY2023 2.400 05/03/2023 506,880.00 502,384.58 5,555.79 2,933.33 500,000.00 507,940.37 1.10 02665WDH1 AMERICAN HONDA FINANCE 1.95% 10MAY2023 1.950 05/10/2023 1,031,510.00 1,019,910.16 (13,016.23) 4 1,000,000.00 1,006,893.93 ,387.50 2.23 166764AH3 3.191 06/24/2023 718,781.00 718,556.88 (1,713.70) 2,295.75 03/24/2023
CHEVRON CORP 3.191% 24JUN2023 (CALLABLE 700,000.00 716,843.18 1.5524MAR23) 742718EB1 PROCTER & GAMBLE CO/THE 3.1% 15AUG2023 3.100 08/15/2023 520,430.00 518,803.73 (4,207.05) 7,147. 500,000.00 514,596.68 22 1.12 89236THA6 TOYOTA MOTOR CREDIT CORP 1.35% 25AUG2023 1.350 08/25/2023 714,959.00 710,002.17 (8,991.33) 4,095. 700,000.00 701,010.84 00 1.55 14912L5X5 CATERPILLAR FINANCIAL SE 3.75% 24NOV2023 3.750 11/24/2023 1,086,390.00 1,061,278.81 (18,092.38) 6 1,000,000.00 1,043,186.43 ,979.17 2.35 06051GHC6 3.004 12/20/2023 525,795.00 510,501.78 (2,909.44) 1,710.61 12/20/2022
BANK OF AMERICA CORP 3.004% 20DEC2023 500,000.00 507,592.34 1.14(CALLABLE 20DEC22) 89236THU2 TOYOTA MOTOR CREDIT CORP 0.45% 11JAN2024 0.450 01/11/2024 479,342.40 479,443.94 (8,419.83) 120.00 480,000.00 471,024.11 1.04 8 SECURITIES HELD
As of January 31, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Corporate Bonds24422EVN6 JOHN DEERE CAPITAL CORP 0.45% 17JAN2024 0.450 01/17/2024 1,001,230.00 1,000,891.91 (18,257.88) 1 1,000,000.00 982,634.03 75.00 2.16 17325FAS7 3.650 01/23/2024 541,470.00 530,228.40 (9,660.45) 405.56 12/23/2023
CITIBANK NA 3.65% 23JAN2024 (CALLABLE 23DEC23) 500,000.00 520,567.95 1.17 693475AV7 3.500 01/23/2024 957,939.00 934,853.72 (3,008.70) 700.00 12/24/2023
PNC FINANCIAL SERVICES 3.5% 23JAN2024 (CALLABLE 900,000.00 931,845.02 2.0723DEC23) 91159HHV5 3.375 02/05/2024 1,079,130.00 1,057,012.92 (21,439.10) 16,500.00 01/05/2024
US BANCORP 3.375% 05FEB2024 (CALLABLE 05JAN24) 1,000,000.00 1,035,573.82 2.33 459200HU8 IBM CORP 3.625% 12FEB2024 3.625 02/12/2024 1,086,900.00 1,063,610.80 (23,810.97) 1 1,000,000.00 1,039,799.83 7,017.36 2.3588579YBB6 3.250 02/14/2024 541,935.00 528,036.32 (8,563.18) 7,538.19 01/14/2024
3M COMPANY 3.25% 14FEB2024 (CALLABLE 14JAN24) 500,000.00 519,473.14 1.17 713448CM8 3.600 03/01/2024 537,465.00 528,109.38 (7,911.15) 7,500.00 12/01/2023
PEPSICO INC 3.6% 01MAR2024 (CALLABLE 01DEC23) 500,000.00 520,198.23 1.16 06051GHF9 3.550 03/05/2024 535,525.00 514,786.49 (3,618.82) 7,198.61 03/05/2023
BANK OF AMERICA CORP 3.55% 05MAR2024 (CALLABLE 500,000.00 511,167.67 1.1605MAR23) 46647PAP1 3.559 04/23/2024 534,240.00 519,151.92 (6,151.91) 4,844.19 04/23/2023
JPMORGAN CHASE & CO 3.559% 23APR2024 (CALLABLE 500,000.00 513,000.01 1.1523APR23) 717081DM2 PFIZER INC 3.4% 15MAY2024 3.400 05/15/2024 537,160.00 532,168.94 (9,742.38) 3,588. 500,000.00 522,426.56 89 1.16 Total Corporate Bonds 13,380,000.00 14,061,812.40 13,835,233.23 13,674,816.36 (160,416.87) 105,446.21 30.40Government Agencies313378WG2 FEDERAL HOME LOAN BANK 2.5% 11MAR2022 2.500 03/11/2022 1,016,330.00 1,000,676.98 2,254.22 9,72 1,000,000.00 1,002,931.20 2.22 2.20 9 SECURITIES HELD
As of January 31, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Government Agencies3135G0T78 FANNIE MAE 2% 05OCT2022 2.000 10/05/2022 1,260,435.75 1,258,017.39 3,897.19 8,05 1,250,000.00 1,261,914.58 5.56 2.72 3130A3KM5 FEDERAL HOME LOAN BANK 2.5% 09DEC2022 2.500 12/09/2022 1,021,240.00 1,005,297.14 7,811.58 3,61 1,000,000.00 1,013,108.72 1.11 2.213137EAEQ8 FREDDIE MAC 0.375% 20APR2023 0.375 04/20/2023 1,248,223.75 1,248,368.37 (6,802.04) 1, 1,250,000.00 1,241,566.33 315.10 2.703135G0U43 FANNIE MAE 2.875% 12SEP2023 2.875 09/12/2023 1,047,553.22 1,019,367.37 9,145.98 11,1 1,000,000.00 1,028,513.35 00.69 2.26 3135G0V34 FANNIE MAE 2.5% 05FEB2024 2.500 02/05/2024 621,262.80 609,977.69 5,791.30 7,333.33 600,000.00 615,768.99 1.34 3133EMWV0 FEDERAL FARM CREDIT BANK 0.35% 22APR2024 0.350 04/22/2024 1,000,000.00 1,000,000.00 (19,225.13) 9 1,000,000.00 980,774.87 62.50 2.16 3130AMQQ8 0.350 04/23/2024 1,000,000.00 1,000,000.00 (15,900.35) 369.44 03/23/2022
FEDERAL HOME LOAN BANK 0.35% 23APR2024 1,000,000.00 984,099.65 2.16(CALLABLE 23MAR22) 3136G46B4 0.350 04/26/2024 1,199,700.00 1,199,807.40 (24,239.16) 1,108.33 04/26/2022
FANNIE MAE 0.35% 26APR2024 (CALLABLE 26APR22) 1,200,000.00 1,175,568.24 2.59 3133EMYR7 0.375 05/06/2024 1,000,000.00 1,000,000.00 (19,595.67) 885.42 05/06/2022
FEDERAL FARM CREDIT BANK 0.375% 06MAY2024 1,000,000.00 980,404.33 2.16(CALLABLE 06MAY22) 3135G0V75 FANNIE MAE 1.75% 02JUL2024 1.750 07/02/2024 753,426.75 751,779.71 6,020.83 1,057.29 750,000.00 757,800.54 1.63 Total Government Agencies 11,050,000.00 11,168,172.27 11,093,292.05 11,042,450.80 (50,841.25) 2 45,520.99 4.14Government Bonds912828ZX1 USA TREASURY 0.125% 30JUN2022 0.125 06/30/2022 999,808.04 999,844.36 (977.17) 107.04 2. 1,000,000.00 998,867.19 16 10 SECURITIES HELD
As of January 31, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Government Bonds9128287C8 USA TREASURY 1.75% 15JUL2022 1.750 07/15/2022 1,261,088.17 1,258,924.62 (1,600.39) 96 1,250,000.00 1,257,324.23 6.85 2.73 91282CAN1 USA TREASURY 0.125% 30SEP2022 0.125 09/30/2022 1,248,929.97 1,249,081.75 (2,695.02) 52 1,250,000.00 1,246,386.73 7.99 2.70912828M80 USA TREASURY 2% 30NOV2022 2.000 11/30/2022 1,269,750.29 1,260,406.61 2,728.15 4,25 1,250,000.00 1,263,134.76 8.24 2.74912828Z29 USA TREASURY 1.5% 15JAN2023 1.500 01/15/2023 1,011,526.79 1,010,476.17 (3,835.55) 66 1,000,000.00 1,006,640.62 2.98 2.19912828Z86 USA TREASURY 1.375% 15FEB2023 1.375 02/15/2023 1,263,920.20 1,262,594.47 (5,270.24) 7, 1,250,000.00 1,257,324.23 893.17 2.73912828ZD5 USA TREASURY 0.5% 15MAR2023 0.500 03/15/2023 1,000,315.85 1,000,290.90 (4,197.15) 1, 1,000,000.00 996,093.75 906.08 2.16 91282CCK5 USA TREASURY 0.125% 30JUN2023 0.125 06/30/2023 792,846.43 793,113.85 (2,863.85) 85.64 1 800,000.00 790,250.00 .71 91282CCN9 USA TREASURY 0.125% 31JUL2023 0.125 07/31/2023 989,808.04 990,168.18 (3,683.80) 0.00 2. 1,000,000.00 986,484.38 14 9128282D1 USA TREASURY 1.375% 31AUG2023 1.375 08/31/2023 1,265,970.98 1,264,935.58 (8,783.23) 7, 1,250,000.00 1,256,152.35 264.33 2.7491282CAW1 USA TREASURY 0.25% 15NOV2023 0.250 11/15/2023 1,000,120.54 1,000,084.73 (15,553.48) 5 1,000,000.00 984,531.25 31.77 2.16912828U57 USA TREASURY 2.125% 30NOV2023 2.125 11/30/2023 661,529.52 655,155.10 6,372.25 2,352.68 650,000.00 661,527.35 1.43 91282CBA8 USA TREASURY 0.125% 15DEC2023 0.125 12/15/2023 1,194,566.52 1,195,366.96 (18,007.59) 1 1,200,000.00 1,177,359.37 93.68 2.58 11 SECURITIES HELD
As of January 31, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Government Bonds91282CBV2 USA TREASURY 0.375% 15APR2024 0.375 04/15/2024 1,001,175.22 1,000,875.16 (19,312.66) 1 1,000,000.00 981,562.50 ,112.64 2.16 91282CCC3 USA TREASURY 0.25% 15MAY2024 0.250 05/15/2024 996,878.35 997,628.23 (20,128.23) 531.7 1,000,000.00 977,500.00 7 2.15 912828D56 USA TREASURY 2.375% 15AUG2024 2.375 08/15/2024 1,038,011.16 1,036,628.22 (9,753.22) 10 1,000,000.00 1,026,875.00 ,906.93 2.249128282Y5 USA TREASURY 2.125% 30SEP2024 2.125 09/30/2024 1,051,800.23 1,044,289.65 (23,274.03) 7 1,000,000.00 1,021,015.62 ,180.63 2.27912828YM6 USA TREASURY 1.5% 31OCT2024 1.500 10/31/2024 1,014,925.23 1,014,422.46 (10,203.71) 3 1,000,000.00 1,004,218.75 ,812.16 2.19912828YV6 USA TREASURY 1.5% 30NOV2024 1.500 11/30/2024 722,889.06 720,091.08 (17,329.36) 1,788 700,000.00 702,761.72 .46 1.56 Total Government Bonds 19,600,000.00 19,785,860.59 19,754,378.08 19,596,009.80 (158,368.28) 52,083.04 42.77Municipal/Provincial Bonds888599LS4 PT. SAN ASSESS DISTRICT 5.25% 144A 02SEP2032 5.250 09/02/2032 1,159,300.00 1,159,300.00 0.00 25,190.6 1,159,300.00 1,159,300.00 2 2.51 SANRAF$01
Total Municipal/Provincial Bonds 1,159,300.00 1,159,300.00 1,159,300.00 1,159,300.00 0.00 2.51 25,190.62Grand total 45,276,385.56 46,262,230.82 45,929,288.92 (369,626.40) 45,559,662.52 228,240.86 100.00 12 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of January 31, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
United States Treasury Note/Bond912828ZX1 USA TREASURY 0.125% 0.125 06/30/2022 AA+ Aaa 1,000,000.00 999,808.04 2.16 998,867.19 2.19 0.419128287C8 USA TREASURY 1.75% 1.750 07/15/2022 AA+ Aaa 1,250,000.00 1,261,088.17 2.73 1,257,324.23 2.76 0.4591282CAN1 USA TREASURY 0.125% 0.125 09/30/2022 AA+ Aaa 1,250,000.00 1,248,929.97 2.70 1,246,386.73 2.74 0.66912828M80 USA TREASURY 2% 2.000 11/30/2022 AA+ Aaa 1,250,000.00 1,269,750.29 2.74 1,263,134.76 2.77 0.82912828Z29 USA TREASURY 1.5% 1.500 01/15/2023 AA+ Aaa 1,000,000.00 1,011,526.79 2.19 1,006,640.62 2.21 0.96912828Z86 USA TREASURY 1.375% 1.375 02/15/2023 AA+ Aaa 1,250,000.00 1,263,920.20 2.73 1,257,324.23 2.76 1.03912828ZD5 USA TREASURY 0.5% 0.500 03/15/2023 AA+ Aaa 1,000,000.00 1,000,315.85 2.16 996,093.75 2.19 1.1191282CCK5 USA TREASURY 0.125% 0.125 06/30/2023 AA+ Aaa 800,000.00 792,846.43 1.71 790,250.00 1.73 1.4191282CCN9 USA TREASURY 0.125% 0.125 07/31/2023 AA+ Aaa 1,000,000.00 989,808.04 2.14 986,484.38 2.17 1.499128282D1 USA TREASURY 1.375% 1.375 08/31/2023 AA+ Aaa 1,250,000.00 1,265,970.98 2.74 1,256,152.35 2.76 1.5691282CAW1 USA TREASURY 0.25% 0.250 11/15/2023 AA+ Aaa 1,000,000.00 1,000,120.54 2.16 984,531.25 2.16 1.78912828U57 USA TREASURY 2.125% 2.125 11/30/2023 AA+ Aaa 650,000.00 661,529.52 1.43 661,527.35 1.45 1.7991282CBA8 USA TREASURY 0.125% 0.125 12/15/2023 AA+ Aaa 1,200,000.00 1,194,566.52 2.58 1,177,359.37 2.58 1.8691282CBV2 USA TREASURY 0.375% 0.375 04/15/2024 AA+ Aaa 1,000,000.00 1,001,175.22 2.16 981,562.50 2.15 2.1991282CCC3 USA TREASURY 0.25% 0.250 05/15/2024 AA+ Aaa 1,000,000.00 996,878.35 2.15 977,500.00 2.15 2.27912828D56 USA TREASURY 2.375% 2.375 08/15/2024 AA+ Aaa 1,000,000.00 1,038,011.16 2.24 1,026,875.00 2.25 2.449128282Y5 USA TREASURY 2.125% 2.125 09/30/2024 AA+ Aaa 1,000,000.00 1,051,800.23 2.27 1,021,015.62 2.24 2.58912828YM6 USA TREASURY 1.5% 1.500 10/31/2024 AA+ Aaa 1,000,000.00 1,014,925.23 2.19 1,004,218.75 2.20 2.68912828YV6 USA TREASURY 1.5% 1.500 11/30/2024 AA+ Aaa 700,000.00 722,889.06 1.56 702,761.72 1.54 2.76Issuer total 19,600,000.00 19,785,860.59 42.77 19,596,009.80 43.01 1.54Federal National Mortgage Association3135G0T78 FANNIE MAE 2% 2.000 10/05/2022 AA+ Aaa 1,250,000.00 1,260,435.75 2.72 1,261,914.58 2.77 0.673135G0U43 FANNIE MAE 2.875% 2.875 09/12/2023 AA+ Aaa 1,000,000.00 1,047,553.22 2.26 1,028,513.35 2.26 1.573135G0V34 FANNIE MAE 2.5% 2.500 02/05/2024 AA+ Aaa 600,000.00 621,262.80 1.34 615,768.99 1.35 1.94 13 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of January 31, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
Federal National Mortgage Association3136G46B4 FANNIE MAE 0.35% 0.350 04/26/2024 04/26/2022 AA+ Aaa 1,200,000.00 1,199,700.00 2.59 1,175,568.24 2.58 2.063135G0V75 FANNIE MAE 1.75% 1.750 07/02/2024 AA+ Aaa 750,000.00 753,426.75 1.63 757,800.54 1.66 2.36Issuer total 4,800,000.00 4,882,378.52 10.55 4,839,565.70 10.62 1.63Federal Home Loan Banks313378WG2 FEDERAL HOME LOAN 2.500 03/11/2022 AA+ Aaa 1,000,000.00 1,016,330.00 2.20 1,002,931.20 2.20 0.113130A3KM5 FEDERAL HOME LOAN 2.500 12/09/2022 AA+ Aaa 1,000,000.00 1,021,240.00 2.21 1,013,108.72 2.22 0.853130AMQQ FEDERAL HOME LOAN 0.350 04/23/2024 03/23/2022 AA+ Aaa 1,000,000.00 1,000,000.00 2.16 984,099.65 2.16 2.00Issuer total 3,000,000.00 3,037,570.00 6.57 3,000,139.57 6.59 0.98Federal Farm Credit Banks Funding Corp3133EMWV FEDERAL FARM CREDIT 0.350 04/22/2024 AA+ Aaa 1,000,000.00 1,000,000.00 2.16 980,774.87 2.15 2.203133EMYR7 FEDERAL FARM CREDIT 0.375 05/06/2024 05/06/2022 AA+ Aaa 1,000,000.00 1,000,000.00 2.16 980,404.33 2.15 2.05 Issuer total 2,000,000.00 2,000,000.00 4.32 1,961,179.20 4.30 2.13 Federal Home Loan Mortgage Corp3137EAEQ8 FREDDIE MAC 0.375% 0.375 04/20/2023 AA+ Aaa 1,250,000.00 1,248,223.75 2.70 1,241,566.33 2.73 1.21 Issuer total 1,250,000.00 1,248,223.75 2.70 1,241,566.33 2.73 1.21 Toyota Motor Credit Corp89236THA6 TOYOTA MOTOR CREDIT 1.350 08/25/2023 A+ A1 700,000.00 714,959.00 1.55 701,010.84 1.54 1.5489236THU2 TOYOTA MOTOR CREDIT 0.450 01/11/2024 A+ A1 480,000.00 479,342.40 1.04 471,024.11 1.03 1.93 Issuer total 1,180,000.00 1,194,301.40 2.58 1,172,034.95 2.57 1.70 PT. SAN ASSESS DISTRICT888599LS4 PT. SAN ASSESS 5.250 09/02/2032 NR NR 1,159,300.00 1,159,300.00 2.51 1,159,300.00 2.54 8.07 Issuer total 1,159,300.00 1,159,300.00 2.51 1,159,300.00 2.54 8.07 14 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of January 31, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
JPMorgan Chase & Co46647PBB1 JPMORGAN CHASE & CO 3.207 04/01/2023 04/01/2022 A- A2 600,000.00 615,576.00 1.33 601,968.10 1.32 0.1646647PAP1 JPMORGAN CHASE & CO 3.559 04/23/2024 04/23/2023 A- A2 500,000.00 534,240.00 1.15 513,000.01 1.13 1.19 Issuer total 1,100,000.00 1,149,816.00 2.49 1,114,968.11 2.45 0.64 Caterpillar Financial Services Corp14912L5X5 CATERPILLAR FINANCIAL 3.750 11/24/2023 A A2 1,000,000.00 1,086,390.00 2.35 1,043,186.43 2.29 1.75 Issuer total 1,000,000.00 1,086,390.00 2.35 1,043,186.43 2.29 1.75 International Business Machines Corp459200HU8 IBM CORP 3.625% 3.625 02/12/2024 A- A3 1,000,000.00 1,086,900.00 2.35 1,039,799.83 2.28 1.93 Issuer total 1,000,000.00 1,086,900.00 2.35 1,039,799.83 2.28 1.93 US Bancorp91159HHV5 US BANCORP 3.375% 3.375 02/05/2024 01/05/2024 A+ A2 1,000,000.00 1,079,130.00 2.33 1,035,573.82 2.27 1.86 Issuer total 1,000,000.00 1,079,130.00 2.33 1,035,573.82 2.27 1.86 Bank of America Corp06051GHC6 BANK OF AMERICA CORP 3.004 12/20/2023 12/20/2022 A- A2 500,000.00 525,795.00 1.14 507,592.34 1.11 0.8806051GHF9 BANK OF AMERICA CORP 3.550 03/05/2024 03/05/2023 A- A2 500,000.00 535,525.00 1.16 511,167.67 1.12 1.06 Issuer total 1,000,000.00 1,061,320.00 2.29 1,018,760.01 2.24 0.97 American Honda Finance Corp02665WDH1 AMERICAN HONDA 1.950 05/10/2023 A- A3 1,000,000.00 1,031,510.00 2.23 1,006,893.93 2.21 1.25 Issuer total 1,000,000.00 1,031,510.00 2.23 1,006,893.93 2.21 1.25 John Deere Capital Corp24422EVN6 JOHN DEERE CAPITAL 0.450 01/17/2024 A A2 1,000,000.00 1,001,230.00 2.16 982,634.03 2.16 1.94 Issuer total 1,000,000.00 1,001,230.00 2.16 982,634.03 2.16 1.94 15 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of January 31, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
PNC Financial Services Group Inc/The693475AV7 PNC FINANCIAL 3.500 01/23/2024 12/24/2023 A- A3 900,000.00 957,939.00 2.07 931,845.02 2.05 1.85 Issuer total 900,000.00 957,939.00 2.07 931,845.02 2.05 1.85 Chevron Corp166764AH3 CHEVRON CORP 3.191% 3.191 06/24/2023 03/24/2023 AA- Aa2 700,000.00 718,781.00 1.55 716,843.18 1.57 1.15 Issuer total 700,000.00 718,781.00 1.55 716,843.18 1.57 1.15 Pfizer Inc717081DM2 PFIZER INC 3.4% 3.400 05/15/2024 A+ A2 500,000.00 537,160.00 1.16 522,426.56 1.15 2.19 Issuer total 500,000.00 537,160.00 1.16 522,426.56 1.15 2.19 Citibank NA17325FAS7 CITIBANK NA 3.65% 3.650 01/23/2024 12/23/2023 A+ Aa3 500,000.00 541,470.00 1.17 520,567.95 1.14 1.85 Issuer total 500,000.00 541,470.00 1.17 520,567.95 1.14 1.85 PepsiCo Inc713448CM8 PEPSICO INC 3.6% 3.600 03/01/2024 12/01/2023 A+ A1 500,000.00 537,465.00 1.16 520,198.23 1.14 1.80 Issuer total 500,000.00 537,465.00 1.16 520,198.23 1.14 1.80 3M Co88579YBB6 3M COMPANY 3.25% 3.250 02/14/2024 01/14/2024 A+ A1 500,000.00 541,935.00 1.17 519,473.14 1.14 1.89 Issuer total 500,000.00 541,935.00 1.17 519,473.14 1.14 1.89 Procter & Gamble Co/The742718EB1 PROCTER & GAMBLE 3.100 08/15/2023 AA- Aa3 500,000.00 520,430.00 1.12 514,596.68 1.13 1.49 Issuer total 500,000.00 520,430.00 1.12 514,596.68 1.13 1.49 16 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of January 31, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
Apple Inc037833AK6 APPLE INC 2.4% 2.400 05/03/2023 AA+ Aaa 500,000.00 506,880.00 1.10 507,940.37 1.11 1.23 Issuer total 500,000.00 506,880.00 1.10 507,940.37 1.11 1.23 Walmart Inc931142DH3 WALMART INC 2.55% 2.550 04/11/2023 01/11/2023 AA Aa2 500,000.00 509,155.00 1.10 507,074.12 1.11 0.97 Issuer total 500,000.00 509,155.00 1.10 507,074.12 1.11 0.97 Cash and Cash Equivalents
INVESTED CASH 0.000 87,085.56 87,085.56 0.00 87,085.56 0.19 0.00 Issuer total 87,085.56 87,085.56 0.00 87,085.56 0.19 0.00 Grand total 45,276,385.56 46,262,230.82 100.00 45,559,662.52 100.00 1.69 17 SECURITIES PURCHASED
For the period January 1, 2022 - January 31, 2022

SAN RAFAEL
Par value or
shares
Unit cost Accrued
interest
Trade date
Settle date
Coupon Maturity/
Call date
Principal
cost
Cusip Description / Broker
Corporate Bonds166764AH3 01/26/2022 06/24/2023 700,000.00 102.68 (718,781.00) (2, 3.191 295.75) 01/31/2022 03/24/2023
CHEVRON CORP 3.191% 24JUN2023GOLDMAN, SACHS AND CO.

Total Corporate Bonds 700,000.00 (718,781.00) (2,295.75) Government Bonds91282CCK5 01/11/2022 06/30/2023 800,000.00 99.11 (792,846.43) (35. 0.125 90) 01/13/2022
USA TREASURY 0.125% 30JUN2023HSBC SECURITIES (USA) INC. 91282CCN9 01/11/2022 07/31/2023 1,000,000.00 98.98 (989,808.04) (5 0.125 63.86) 01/13/2022
USA TREASURY 0.125% 31JUL2023HSBC SECURITIES (USA) INC.

Total Government Bonds 1,800,000.00 (1,782,654.47) (599.76) Grand total Grand total 2,500,000.00 (2,501,435.47) (2,895.51) 18 SECURITIES SOLD AND MATURED
For the period January 1, 2022 - January 31, 2022

SAN RAFAEL
Historical cost Amortized cost
at sale or
maturity
Fair value at
sale or
maturity
Realized
gain
(loss)
Trade date Coupon Price
Settle date
Maturity/
Call date
Par value or
shares
Cusip Accrued
interest
sold
Description / Broker
Corporate Bonds0258M0EG0 01/31/2022 (700,000.00) 714,231.00 700,000.00 0.00 700,0 2.700 00.00 0.00 0.00 01/31/2022
AMERICAN EXPRESS CREDIT 2.7%03MAR2022 (CALLABLE 31JAN22) Total (Corporate Bonds) (700,000.00) 714,231.00 700,000.00 700,000.00 0.00 0.00 Government Agencies3137EADB2 01/13/2022 (1,650,000.00) 1,676,634.30 1,650,000.00 0.0 2.375 0 1,650,000.00 0.00 0.00 01/13/2022
FHLMC PREASSIGN 00074 2.37501-13-2022
Total (Government Agencies) (1,650,000.00) 1,676,634.30 1,650,000.00 1,650,000.00 0.00 0.00 Grand total (2,350,000.00) 2,390,865.30 2,350,000.00 2,350,000.00 0.00 0.00 19 DETAIL OF RETURN AND INTEREST RECEIVED
For the period January 1, 2022 - January 31, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Cash
Cash and Cash Equivalents 0.00 0.00 0.00 10.98 10.98
Total Cash 0.00 0.00 0.00 10.98 10.98Corporate Bonds
88579YBB6 3M COMPANY 3.25% 14FEB2024 (CALLABLE 14JAN24) (1,194.72) 0.00 (3,242.72) 1,354.16 0.00 0258M0EG0 AMERICAN EXPRESS CREDIT 2.7% 03MAR2022 (CALLABLE 31JAN22) (1,423.10) 0.00 (1,185.04) 1,575.00 7,770.00 02665WDH1 AMERICAN HONDA FINANCE 1.95% 10MAY2023 (1,298.49) 0.00 (8,959.76) 1,625.00 0.00 037833AK6 APPLE INC 2.4% 03MAY2023 (157.91) 0.00 (4,024.40) 1,000.00 0.00 06051GHC6 BANK OF AMERICA CORP 3.004% 20DEC2023 (CALLABLE 20DEC22) (984.54) 0.00 (2,772.56) 1,251.67 0.00 06051GHF9 BANK OF AMERICA CORP 3.55% 05MAR2024 (CALLABLE 05MAR23) (1,123.02) 0.00 (3,730.21) 1,479.17 0.00 14912L5X5 CATERPILLAR FINANCIAL SE 3.75% 24NOV2023 (2,810.95) 0.00 (10,816.78) 3,125.00 0.00 166764AH3 CHEVRON CORP 3.191% 24JUN2023 (CALLABLE 24MAR23) (224.12) 0.00 (1,937.82) 0.00 0.00 17325FAS7 CITIBANK NA 3.65% 23JAN2024 (CALLABLE 23DEC23) (1,327.75) 0.00 (5,451.36) 1,520.84 9,125.00 459200HU8 IBM CORP 3.625% 12FEB2024 (2,607.00) 0.00 (14,492.64) 3,020.83 0.00 24422EVN6 JOHN DEERE CAPITAL CORP 0.45% 17JAN2024 (37.84) 0.00 (7,857.28) 375.00 2,250.00 46647PBB1 JPMORGAN CHASE & CO 3.207% 01APR2023 (CALLABLE 01APR22) (1,420.31) 0.00 (1,615.62) 1,603.50 0.00 46647PAP1 JPMORGAN CHASE & CO 3.559% 23APR2024 (CALLABLE 23APR23) (1,296.97) 0.00 (3,734.89) 1,482.91 0.00 713448CM8 PEPSICO INC 3.6% 01MAR2024 (CALLABLE 01DEC23) (1,275.77) 0.00 (6,798.61) 1,500.00 0.00 717081DM2 PFIZER INC 3.4% 15MAY2024 (1,169.78) 0.00 (7,252.05) 1,416.67 0.00 693475AV7 PNC FINANCIAL SERVICES 3.5% 23JAN2024 (CALLABLE 23DEC23) (1,530.90) 0.00 (10,677.94) 2,625.00 15,750.00 742718EB1 PROCTER & GAMBLE CO/THE 3.1% 15AUG2023 (1,016.42) 0.00 (5,232.00) 1,291.66 0.00 20 DETAIL OF RETURN AND INTEREST RECEIVED
For the period January 1, 2022 - January 31, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Corporate Bonds
89236THU2 TOYOTA MOTOR CREDIT CORP 0.45% 11JAN2024 23.80 0.00 (4,981.77) 180.00 1,080.00 89236THA6 TOYOTA MOTOR CREDIT CORP 1.35% 25AUG2023 (531.09) 0.00 (5,249.93) 787.50 0.00 91159HHV5 US BANCORP 3.375% 05FEB2024 (CALLABLE 05JAN24) (2,457.45) 0.00 (12,851.10) 2,812.50 0.00 931142DH3 WALMART INC 2.55% 11APR2023 (CALLABLE 11JAN23) (229.83) 0.00 (3,938.48) 1,062.50 0.00 Total Corporate Bonds (24,094.16) (126,802.96) 35,975.00 0.00 31,088.91Government Agencies 3136G46B4 FANNIE MAE 0.35% 26APR2024 (CALLABLE 26APR22) 7.16 0.00 (10,102.54) 350.00 0.00 3135G0V75 FANNIE MAE 1.75% 02JUL2024 (61.22) 0.00 (8,781.46) 1,093.75 6,562.50 3135G0T78 FANNIE MAE 2% 05OCT2022 (981.72) 0.00 (3,968.65) 2,083.34 0.00 3135G0V34 FANNIE MAE 2.5% 05FEB2024 (412.87) 0.00 (5,579.19) 1,250.00 0.00 3135G0U43 FANNIE MAE 2.875% 12SEP2023 (998.32) 0.00 (8,464.52) 2,395.83 0.00 3133EMWV0 FEDERAL FARM CREDIT BANK 0.35% 22APR2024 0.00 0.00 (13,344.88) 291.67 0.00 3133EMYR7 FEDERAL FARM CREDIT BANK 0.375% 06MAY2024 (CALLABLE 06MAY22) 0.00 0.00 (8,417.66) 312.50 0.00 3130AMQQ8 FEDERAL HOME LOAN BANK 0.35% 23APR2024 (CALLABLE 23MAR22) 0.00 0.00 (8,231.59) 291.66 0.00 3130A3KM5 FEDERAL HOME LOAN BANK 2.5% 09DEC2022 (514.29) 0.00 (6,738.74) 2,083.33 0.00 313378WG2 FEDERAL HOME LOAN BANK 2.5% 11MAR2022 (495.35) 0.00 (1,603.43) 2,083.33 0.00 3137EADB2 FHLMC PREASSIGN 00074 2.375 01-13-2022 (452.52) 0.00 (1,070.77) 1,306.25 19,593.75 3137EAEQ8 FREDDIE MAC 0.375% 20APR2023 111.25 0.00 (5,640.45) 390.62 0.00 Total Government Agencies (3,797.88) (81,943.88) 26,156.25 0.00 13,932.28 21 DETAIL OF RETURN AND INTEREST RECEIVED
For the period January 1, 2022 - January 31, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Government Bonds
91282CBA8 USA TREASURY 0.125% 15DEC2023 210.29 0.00 (9,000.00) 127.75 0.00 912828ZX1 USA TREASURY 0.125% 30JUN2022 32.17 0.00 (742.19) 107.04 0.00 91282CCK5 USA TREASURY 0.125% 30JUN2023 267.42 0.00 (2,596.43) 49.74 0.00 91282CAN1 USA TREASURY 0.125% 30SEP2022 117.63 0.00 (1,953.12) 133.07 0.00 91282CCN9 USA TREASURY 0.125% 31JUL2023 360.14 0.00 (3,323.66) 61.14 625.00 91282CCC3 USA TREASURY 0.25% 15MAY2024 88.06 0.00 (9,062.50) 214.09 0.00 91282CAW1 USA TREASURY 0.25% 15NOV2023 (4.02) 0.00 (7,343.75) 214.09 0.00 91282CBV2 USA TREASURY 0.375% 15APR2024 (33.71) 0.00 (8,593.75) 319.37 0.00 912828ZD5 USA TREASURY 0.5% 15MAR2023 (22.10) 0.00 (4,296.87) 428.18 0.00 912828Z86 USA TREASURY 1.375% 15FEB2023 (1,027.44) 0.00 (5,712.88) 1,447.86 0.00 9128282D1 USA TREASURY 1.375% 31AUG2023 (802.44) 0.00 (8,740.23) 1,471.86 0.00 912828Z29 USA TREASURY 1.5% 15JAN2023 (930.55) 0.00 (4,257.82) 1,274.39 7,500.00 912828YV6 USA TREASURY 1.5% 30NOV2024 (602.34) 0.00 (8,421.87) 894.23 0.00 912828YM6 USA TREASURY 1.5% 31OCT2024 (445.31) 0.00 (11,679.69) 1,284.54 0.00 9128287C8 USA TREASURY 1.75% 15JUL2022 (1,676.75) 0.00 (2,685.53) 1,858.49 10,937.50 912828M80 USA TREASURY 2% 30NOV2022 (1,064.70) 0.00 (4,980.48) 2,129.12 0.00 912828U57 USA TREASURY 2.125% 30NOV2023 (239.23) 0.00 (5,992.18) 1,176.34 0.00 9128282Y5 USA TREASURY 2.125% 30SEP2024 (1,411.08) 0.00 (11,875.00) 1,809.75 0.00 912828D56 USA TREASURY 2.375% 15AUG2024 (1,224.89) 0.00 (11,679.69) 2,000.68 0.00 Total Government Bonds (8,408.85) (122,937.64) 19,062.50 0.00 17,001.73 22 DETAIL OF RETURN AND INTEREST RECEIVED
For the period January 1, 2022 - January 31, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Municipal/Provincial Bonds
888599LS4 PT. SAN ASSESS DISTRICT 5.25% 144A 02SEP2032 SANRAF$01 0.00 0.00 0.00 5,071.93 0.00 Total Municipal/Provincial Bonds 0.00 0.00 0.00 5,071.93 0.00Grand total (36,300.89) (331,684.48) 81,204.73 0.00 67,105.83 23 TRANSACTION REPORT
For the period January 1, 2022 - January 31, 2022

SAN RAFAEL
Maturity Par value or
shares
Trade date Cusip Sec type Description Transaction Principal Interest Transaction totalSettle date Realized
gain(loss)
01/02/2022 6,562.5001/02/2022
3135G0V75 Government Agencies FANNIE MAE 1.75% 02JUL2 Income 024 07/02/2024 750,000.00 0.00 6,562.50 0.00 01/11/2022 1,080.0001/11/2022
89236THU2 Corporate Bonds TOYOTA MOTOR CREDIT CORP 01/ Income 11/2024 480,000.00 0.00 1,080.00 0.00 01/11/2022 (35.90)01/13/2022
91282CCK5 Government Bonds USA TREASURY 0.125% 06/30/2 Bought 023 800,000.00 (792,846.43) (792,882.33) 0.00 01/11/2022 (563.86)01/13/2022
91282CCN9 Government Bonds USA TREASURY 0.125% 07/31/2 Bought 023 1,000,000.00 (989,808.04) (990,371.90) 0.00 01/13/2022 19,593.7501/13/2022
3137EADB2 Government Agencies FHLMC PREASSIGN 00074 01 Income /13/2022 1,650,000.00 0.00 19,593.75 0.00 01/13/2022 0.0001/13/2022
3137EADB2 Government Agencies FHLMC PREASSIGN 00074 01 Capital Change /13/2022 (1,650,000.00) 1,650,000.00 1,650,000.00 0.00 01/15/2022 10,937.5001/15/2022
9128287C8 Government Bonds USA TREASURY 1.75% 07/15/20 Income 22 1,250,000.00 0.00 10,937.50 0.00 01/15/2022 7,500.0001/15/2022
912828Z29 Government Bonds USA TREASURY 1.5% 01/15/202 Income 3 1,000,000.00 0.00 7,500.00 0.00 01/17/2022 2,250.0001/17/2022
24422EVN6 Corporate Bonds JOHN DEERE CAPITAL CORP 01/1 Income 7/2024 1,000,000.00 0.00 2,250.00 0.00 01/23/2022 9,125.0001/23/2022
17325FAS7 Corporate Bonds CITIBANK NA 3.65% 23JAN2024 Income 01/23/2024 500,000.00 0.00 9,125.00 0.00 01/23/2022 15,750.0001/23/2022
693475AV7 Corporate Bonds PNC FINANCIAL SERVICES 3.5% Income 01/23/2024 900,000.00 0.00 15,750.00 0.00 01/26/2022 (2,295.75)01/31/2022
166764AH3 Corporate Bonds CHEVRON CORP 3.191% 06/24/20 Bought 23 700,000.00 (718,781.00) (721,076.75) 0.00 01/31/2022 7,770.0001/31/2022
0258M0EG0 Corporate Bonds AMERICAN EXPRESS CREDIT 03/0 Income 3/2022 700,000.00 0.00 7,770.00 0.00 01/31/2022 0.0001/31/2022
0258M0EG0 Corporate Bonds AMERICAN EXPRESS CREDIT 03/0 Capital Change 3/2022 (700,000.00) 700,000.00 700,000.00 0.00 01/31/2022 625.0001/31/2022
91282CCN9 Government Bonds USA TREASURY 0.125% 07/31/2 Income 023 1,000,000.00 0.00 625.00 0.00 01/31/2022 Income Cash and Cash Equivalents Cash 0.00 0.00 0.00 10.98 10.98 24 ADDITIONAL INFORMATION
As of January 31, 2022

SAN RAFAEL
Past performance is not a guide to future performance. The value of investments and any income from them will fluctuate and is not guaranteed (this may partly be due to exchange rate changes) and investors may not get back the amount invested. Transactions in foreign securities may be executed and settled in local markets. Performance comparisons will be affected by changes in interest rates. Investment returns fluctuate due to changesin market conditions. Investment involves risk, including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. The information contained herein is for your reference only and is being provided in response to your specific request and has been obtained from sources believed to be reliable; however, no representation is made regarding its accuracy or completeness. Thisdocument 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 should not be duplicated, amended, or forwarded to a third party without consent from Insight. This is a marketing document intended for professional clients only and should not be made available to or relied upon by retail clients Investment advisory services in North America are provided through two different SEC-registered investment advisers using the brand Insight Investment: Insight North America LLC (INA) and Insight Investment InternationalLimited (IIIL). The North American investment advisers are associated with a broader group of global investment managers that also (individually and collectively) use the corporate brand Insight Investment and may be referred to as Insight, Insight Group or Insight Investment.INA is an investment adviser registered with the Securities and Exchange Commission (SEC), under the Investment Advisers Act of 1940, as amended. Registration with the SEC does not imply a certain level of skill or training.

You may request, without charge, additional information about Insight. Moreover, specific information relating to Insights strategies, including investment advisory fees, may be obtained from INA's Form ADV Part 2A, which isavailable without charge upon request.Where indicated, performance numbers used in the analysis are gross returns. The performance reflects the reinvestment of all dividends and income. INA charges management fees on all portfolios managed and these feeswill reduce the returns on the portfolios. For example, assume that $30 million is invested in an account with INA, and this account achieves a 5.0% annual return compounded monthly, gross of fees, for a period of five years.

At the end of five years that account would have grown to $38,500,760 before the deduction of management fees. Assuming management fees of 0.25% per year are deducted monthly from the account, the value at the end of the five year period would be $38,022,447. Actual fees for new accounts are dependent on size and subject to negotiation. INA's investment advisory fees are discussed in Part 2A of its Form ADV.

Unless otherwise stated, the source of information is Insight. Any forecasts or opinions are Insight’s own at the date of this document (or as otherwise specified) and may change. 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 makes no implied or expressed recommendations concerning the manner in which an account should or would be handled, as appropriate investment strategies depend upon specific investment guidelines and objectives and should not be construed to be an assurance that any particular security in a strategy will remain in any fund, account, or strategy, or that a previously held security will not be repurchased. 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.Please compare the information provided in this statement to the information provided in the statement received from your Custodian.

For trading activity the Clearing broker will be reflected. In certain cases the Clearing broker will differ from the Executing broker.In calculating ratings distributions and weighted average portfolio quality, Insight assigns U.S Treasury and U.S agency securities a quality rating based on the methodology used within the respective benchmark index. WhenMoody’s, S&P and Fitch rate a security, Bank of America and Merrill Lynch indexes assign a simple weighted average statistic while Barclays indexes assign the median statistic. Insight assigns all other securities the lower of Moody’s and S&P ratings.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 anappropriate 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 theindices 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 US T-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 US T-Bill index measures the performance of Treasury bills with time to maturity of less than 6 months.

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 auctionedon or before the third business day before the last business day of the month.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 auctionedon 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 auctionedon 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. 25 ADDITIONAL INFORMATION
As of January 31, 2022

SAN RAFAEL
Insight does not provide tax or legal advice to its clients and all investors are strongly urged to consult their tax and legal advisors regarding any potential strategy or investment.

Insight is a group of wholly owned subsidiaries of The Bank of New York Mellon Corporation. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference the Corporation as a whole or its various subsidiaries generally. Products and services may be provided under various brand names and in various countries by subsidiaries, affiliates and joint ventures of The Bank of New York Mellon Corporation where authorized and regulated as required within each jurisdiction. Unless you are notified to the contrary, the products and services mentioned are not insured by the FDIC (or by any governmental entity)and are not guaranteed by or obligations of The Bank of New York Mellon Corporation or any of its affiliates. The Bank of New York Corporation assumes no responsibility for the accuracy or completeness of the above data and disclaims all expressed or implied warranties in connection therewith.© 2022 Insight Investment. All rights reserved. 26 FOR PROFESSIONAL CLIENTS ONLY
NOT TO BE REPRODUCED WITHOUT PRIOR WRITTEN APPROVALPLEASE REFER TO ALL RISK DISCLOSURES AT THE BACK OF THIS DOCUMENTSAN RAFAELFebruary 2022 Contents
Fixed income market review 3Activity and performance summary 4Recap of securities held 6Maturity distribution of securities held 7Securities held 8GASB 40 - Deposit and investment risk disclosure 13Detail of return and interest received 18Transaction report 22Additional information 23

FIXED INCOME MARKET REVIEW
As of February 28, 2022

SAN RAFAEL
Chart 1: Oil spikes in response to the crisis in UkraineSource: Bloomberg, February 28, 2022Chart 2: Inflation reaches another multi-decade highSource: Bloomberg, February 28, 2022 Economic Indicators and Monetary PolicyGeopolitical uncertainty increased substantially as Russia began a full-scale invasion ofUkraine, to the surprise of many geopolitical experts. By the end of the month Russiahad not taken over the capital of Kyiv, facing a greater degree of resistance thanexpected, prompting Russia to deploy additional troops and equipment.Worldwide governments implemented sanctions on Russia, including a freeze onRussian central bank foreign reserve assets. Certain companies also divested ofRussian assets and international sporting and other events in Russia were cancelled.Commodity prices rose with Oil spiking above $100 per barrel (Chart 1).US CPI accelerated yet again with headline and core both up 0.6% in January or 7.5%and 6% annualized respectively, both higher than expected (Chart 2). Importantly, therelatively “sticky” healthcare segment was one of the sectors responsible for the rise,while less sticky airfare and used car segments also had a large impact.The US labor market report defied expectations. Disruption from the Omicron COVID19 variant had been expected to take its toll. However, payrolls rose by 467,000, andwage growth was increasingly broad-based at 5.7% pa. The unemployment rate tickedup from 3.9% to 4% but, this was due to 1.4m returning to the workforce, pushing theparticipation rate up from 61.9% to 62.2%.Elsewhere, total orders for durable goods rose 1.6% with strong gains in core capitalgoods orders and core capital goods shipments. Nonetheless, shipments continuedto be outstripped by new orders, indicating some lingering supply chain disruptions.The market continued to be primed for a ‘lift off’ in policy interest rates in March, witha range of Federal Reserve speakers endorsing a rate hike.Interest Rate SummaryYields rose slightly at the front end. At the end of February, the 3-month US Treasurybill yielded 0.32%, the 6-month US Treasury bill yielded 0.66%, the 2-year US Treasurynote yielded 1.44%, the 5-year US Treasury note yielded 1.72% and the 10-year USTreasury note yielded 1.83%. 3 .n "'
.....
-v,.
110 100
90 80 70
60 50
40 Jan-21
10 8
6 4
2 0
-2
-4
1982
Mar-21 May-21 Jul-21 Sep-21
--WTI Crude oil
Nov-21 Jan-22
1986 1990 1994 1998 2002 2006 2010 2014 2018 2022
---CPI - - - Current level

ACTIVITY AND PERFORMANCE SUMMARY
For the period February 1, 2022 - February 28, 2022

SAN RAFAEL
Amortized Cost Basis Activity Summary
Opening balance 45,929,288.92
Income received 92,163.07
Total receipts 92,163.07Total disbursements 0.00
Interportfolio transfers 0.00
Total Interportfolio transfers 0.00
Realized gain (loss) 0.00Change in accruals from security movement 0.00 Total amortization expense (35,927.88)Total OID/MKT accretion income 1,425.79 Return of capital 0.00
Closing balance 45,986,949.90Ending fair value 45,452,855.81 Unrealized gain (loss) (534,094.09)
Comparative Rates of Return (%)
* Twelve
month trailing
* Six
month trailing
* One month
Fed Funds 0.08 0.04 0.01Overnight Repo 0.03 0.02 0.00Merrill Lynch 3m US Treas Bill 0.05 0.04 0.02Merrill Lynch 6m US Treas Bill 0.09 0.08 0.04ML 1 Year US Treasury Note 0.21 0.18 0.08ML 2 Year US Treasury Note 0.44 0.35 0.11ML 5 Year US Treasury Note 1.05 0.64 0.14 * rates reflected are cumulative
Summary of Amortized Cost Basis Return for the Period
Total portfolio
Interest earned 59,643.33Accretion (amortization) (34,502.09)Realized gain (loss) on sales 0.00Total income on portfolio 25,141.24Average daily amortized cost 45,961,059.93Period return (%)Weighted average final maturity in days 648YTD return (%) Detail of Amortized Cost Basis Return
Interest
earned
Realized
gain (loss)
Accretion
(amortization)
Total
income
Cash and Cash Equivalents 0.57 0.00 0.57 0.00Corporate Bonds 28,237.80 (23,873.60) 4,364.20 0.00Government Agencies 11,363.45 (3,345.13) 8,018.32 0.00Government Bonds 15,476.76 (7,283.36) 8,193.40 0.00Municipal/Provincial Bonds 4,564.75 0.00 4,564.75 0.00Total 59,643.33 (34,502.09) 0.00 25,141.24

0.050.12
4 ACTIVITY AND PERFORMANCE SUMMARY
For the period February 1, 2022 - February 28, 2022

SAN RAFAEL
Fair Value Basis Activity Summary
Opening balance 45,559,662.52
Income received 92,163.07
Total receipts 92,163.07Total disbursements 0.00
Interportfolio transfers 0.00
Total Interportfolio transfers 0.00
Unrealized gain (loss) on security movements 0.00Change in accruals from security movement 0.00Return of capital 0.00Change in fair value for the period (198,969.78) Ending fair value 45,452,855.81
Comparative Rates of Return (%)
* Twelve
month trailing
* Six
month trailing
* One month
Fed Funds 0.08 0.04 0.01Overnight Repo 0.03 0.02 0.00ICE Bofa 3 Months US T-BILL 0.04 0.02 0.01ICE Bofa 6m US Treas Bill 0.00 (0.04) (0.01)ICE Bofa 1 Yr US Treasury Note (0.53) (0.61) (0.16)ICE BofA US Treasury 1-3 (1.51) (1.65) (0.37)ICE BofA US Treasury 1-5 (1.99) (2.28) (0.43) * rates reflected are cumulative
Detail of Fair Value Basis Return
Interest
earned
Change in
fair value
Total
income
Cash and Cash Equivalents 0.57 0.00 0.57Corporate Bonds 28,237.80 (73,440.80) (45,203.00)Government Agencies 11,363.45 (48,948.86) (37,585.41)Government Bonds 15,476.76 (76,580.12) (61,103.36)Municipal/Provincial Bonds 4,564.75 0.00 4,564.75Total 59,643.33 (198,969.78) (139,326.45) Summary of Fair Value Basis Return for the Period
Total portfolio
Interest earned 59,643.33Total income on portfolio (139,326.45)Average daily total value * 45,635,852.88Period return (%) (0.30)Weighted average final maturity in days 648Change in fair value (198,969.78)YTD return (%) (0.88)* Total value equals market value and accrued interest 5 RECAP OF SECURITIES HELD
As of February 28, 2022

SAN RAFAEL
Weighted
average
final
maturity (days)
Weighted
average
effective
duration (years)
Percent
of
portfolio
Amortized
cost
Historical
cost
Fair value Unrealized
gain (loss)
Cash and Cash Equivalents 179,248.63 179,248.63 179,248.63 0.00 1 0.39 0.00Corporate Bonds 14,061,812.40 13,811,359.63 13,601,375.56 (209,984.07) 625 30.34 1.47Government Agencies 11,168,172.27 11,089,946.92 10,993,501.94 (96,444.98) 544 24.09 1.43Government Bonds 19,785,860.59 19,747,094.72 19,519,429.68 (227,665.04) 541 42.68 1.46Municipal/Provincial Bonds 1,159,300.00 1,159,300.00 1,159,300.00 0.00 3,839 2.50 7.97Total 46,354,393.89 45,986,949.90 45,452,855.81 (534,094.09) 648 100.00 1.61 Cash and Cash EquivalentsCorporate BondsGovernment AgenciesGovernment BondsMunicipal/Provincial Bonds Portfolio diversification (%)
Cash and Cash Equivalents 0.39Corporate Bonds 30.34Government Agencies 24.09Government Bonds 42.68Municipal/Provincial Bonds 2.50 Portfolio diversification (%)
6 Total 100.00

MATURITY DISTRIBUTION OF SECURITIES HELD
As of February 28, 2022

SAN RAFAEL
Maturity Historic cost PercentUnder 90 days 1,811,154.63 3.9190 to 179 days 2,260,896.21 4.88180 days to 1 year 8,110,753.00 17.501 to 2 years 21,696,324.05 46.812 to 3 years 11,315,966.00 24.413 to 4 years 0.00 0.004 to 5 years 0.00 0.00Over 5 years 1,159,300.00 2.50 46,354,393.89 100.00
Maturity distribution

0.005.00

10.0015.0020.0025.00
Historical cost (mm)
Under 90 days
90 to 179 days
180 days to 1 year
1 to 2 years
2 to 3 years
3 to 4 years
4 to 5 years
Over 5 years
7 SECURITIES HELD
As of February 28, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Cash and Cash Equivalents
Cash and Cash Equivalents 0.000 179,248.63 179,248.63 179,248.63 0.00 0.00 0.39 179,248.63 Total Cash and Cash Equivalents 179,248.63 179,248.63 179,248.63 179,248.63 0.00 0.39 0.00Corporate Bonds46647PBB1 3.207 04/01/2023 615,576.00 601,467.65 (583.69) 7,857.15 04/01/2022
JPMORGAN CHASE & CO 3.207% 01APR2023 (CALLABLE 600,000.00 600,883.96 1.3301APR22) 931142DH3 2.550 04/11/2023 509,155.00 502,382.60 3,093.78 4,852.08 01/11/2023
WALMART INC 2.55% 11APR2023 (CALLABLE 11JAN23) 500,000.00 505,476.38 1.10 037833AK6 APPLE INC 2.4% 03MAY2023 2.400 05/03/2023 506,880.00 502,226.66 3,992.00 3,833.33 500,000.00 506,218.66 1.09 02665WDH1 AMERICAN HONDA FINANCE 1.95% 10MAY2023 1.950 05/10/2023 1,031,510.00 1,018,611.68 (13,863.87) 5 1,000,000.00 1,004,747.81 ,850.00 2.23 166764AH3 3.191 06/24/2023 718,781.00 717,212.18 (3,852.85) 3,971.02 03/24/2023
CHEVRON CORP 3.191% 24JUN2023 (CALLABLE 700,000.00 713,359.33 1.5524MAR23) 742718EB1 PROCTER & GAMBLE CO/THE 3.1% 15AUG2023 3.100 08/15/2023 520,430.00 517,787.31 (6,287.99) 559.72 500,000.00 511,499.32 1.12 89236THA6 TOYOTA MOTOR CREDIT CORP 1.35% 25AUG2023 1.350 08/25/2023 714,959.00 709,471.08 (11,910.71) 78.75 700,000.00 697,560.37 1.54 14912L5X5 CATERPILLAR FINANCIAL SE 3.75% 24NOV2023 3.750 11/24/2023 1,086,390.00 1,058,467.85 (21,524.03) 9 1,000,000.00 1,036,943.82 ,791.67 2.34 06051GHC6 3.004 12/20/2023 525,795.00 509,517.24 (5,073.55) 2,837.11 12/20/2022
BANK OF AMERICA CORP 3.004% 20DEC2023 500,000.00 504,443.69 1.13(CALLABLE 20DEC22) 89236THU2 TOYOTA MOTOR CREDIT CORP 0.45% 11JAN2024 0.450 01/11/2024 479,342.40 479,467.73 (10,844.44) 282.0 480,000.00 468,623.29 0 1.03 8 SECURITIES HELD
As of February 28, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Corporate Bonds24422EVN6 JOHN DEERE CAPITAL CORP 0.45% 17JAN2024 0.450 01/17/2024 1,001,230.00 1,000,854.06 (23,083.81) 5 1,000,000.00 977,770.25 12.50 2.16 17325FAS7 3.650 01/23/2024 541,470.00 528,900.65 (12,016.02) 1,774.31 12/23/2023
CITIBANK NA 3.65% 23JAN2024 (CALLABLE 23DEC23) 500,000.00 516,884.63 1.17 693475AV7 3.500 01/23/2024 957,939.00 933,322.81 (6,877.50) 3,062.50 12/24/2023
PNC FINANCIAL SERVICES 3.5% 23JAN2024 (CALLABLE 900,000.00 926,445.31 2.0723DEC23) 91159HHV5 3.375 02/05/2024 1,079,130.00 1,054,473.55 (26,971.18) 2,156.25 01/05/2024
US BANCORP 3.375% 05FEB2024 (CALLABLE 05JAN24) 1,000,000.00 1,027,502.37 2.33 459200HU8 IBM CORP 3.625% 12FEB2024 3.625 02/12/2024 1,086,900.00 1,061,003.80 (24,260.76) 1 1,000,000.00 1,036,743.04 ,611.11 2.3488579YBB6 3.250 02/14/2024 541,935.00 526,841.59 (12,428.42) 631.94 01/14/2024
3M COMPANY 3.25% 14FEB2024 (CALLABLE 14JAN24) 500,000.00 514,413.17 1.17 713448CM8 3.600 03/01/2024 537,465.00 526,833.62 (9,922.02) 8,850.00 12/01/2023
PEPSICO INC 3.6% 01MAR2024 (CALLABLE 01DEC23) 500,000.00 516,911.60 1.16 06051GHF9 3.550 03/05/2024 535,525.00 513,663.46 (5,743.44) 8,529.86 03/05/2023
BANK OF AMERICA CORP 3.55% 05MAR2024 (CALLABLE 500,000.00 507,920.02 1.1605MAR23) 46647PAP1 3.559 04/23/2024 534,240.00 517,854.95 (8,456.74) 6,178.82 04/23/2023
JPMORGAN CHASE & CO 3.559% 23APR2024 (CALLABLE 500,000.00 509,398.21 1.1523APR23) 717081DM2 PFIZER INC 3.4% 15MAY2024 3.400 05/15/2024 537,160.00 530,999.16 (13,368.83) 4,863 500,000.00 517,630.33 .89 1.16 Total Corporate Bonds 13,380,000.00 14,061,812.40 13,811,359.63 13,601,375.56 (209,984.07) 78,084.01 30.34Government Agencies313378WG2 FEDERAL HOME LOAN BANK 2.5% 11MAR2022 2.500 03/11/2022 1,016,330.00 1,000,181.63 514.14 11,597 1,000,000.00 1,000,695.77 .22 2.19 9 SECURITIES HELD
As of February 28, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Government Agencies3135G0T78 FANNIE MAE 2% 05OCT2022 2.000 10/05/2022 1,260,435.75 1,257,035.66 1,542.27 9,93 1,250,000.00 1,258,577.93 0.56 2.72 3130A3KM5 FEDERAL HOME LOAN BANK 2.5% 09DEC2022 2.500 12/09/2022 1,021,240.00 1,004,782.86 6,614.85 5,48 1,000,000.00 1,011,397.71 6.11 2.203137EAEQ8 FREDDIE MAC 0.375% 20APR2023 0.375 04/20/2023 1,248,223.75 1,248,479.62 (9,759.02) 1, 1,250,000.00 1,238,720.60 666.67 2.693135G0U43 FANNIE MAE 2.875% 12SEP2023 2.875 09/12/2023 1,047,553.22 1,018,369.05 4,130.55 13,2 1,000,000.00 1,022,499.60 56.94 2.26 3135G0V34 FANNIE MAE 2.5% 05FEB2024 2.500 02/05/2024 621,262.80 609,564.82 1,916.04 958.33 1. 600,000.00 611,480.86 34 3133EMWV0 FEDERAL FARM CREDIT BANK 0.35% 22APR2024 0.350 04/22/2024 1,000,000.00 1,000,000.00 (24,529.00) 1 1,000,000.00 975,471.00 ,225.00 2.16 3130AMQQ8 0.350 04/23/2024 1,000,000.00 1,000,000.00 (21,213.58) 631.94 03/23/2022
FEDERAL HOME LOAN BANK 0.35% 23APR2024 1,000,000.00 978,786.42 2.16(CALLABLE 23MAR22) 3136G46B4 0.350 04/26/2024 1,199,700.00 1,199,814.80 (31,369.76) 1,423.33 04/26/2022
FANNIE MAE 0.35% 26APR2024 (CALLABLE 26APR22) 1,200,000.00 1,168,445.04 2.59 3133EMYR7 0.375 05/06/2024 1,000,000.00 1,000,000.00 (24,951.23) 1,166.67 05/06/2022
FEDERAL FARM CREDIT BANK 0.375% 06MAY2024 1,000,000.00 975,048.77 2.16(CALLABLE 06MAY22) 3135G0V75 FANNIE MAE 1.75% 02JUL2024 1.750 07/02/2024 753,426.75 751,718.48 659.76 2,041.67 1. 750,000.00 752,378.24 63 Total Government Agencies 11,050,000.00 11,168,172.27 11,089,946.92 10,993,501.94 (96,444.98) 2 49,384.44 4.09Government Bonds912828ZX1 USA TREASURY 0.125% 30JUN2022 0.125 06/30/2022 999,808.04 999,873.41 (1,191.78) 203.73 1,000,000.00 998,681.63 2.16 10 SECURITIES HELD
As of February 28, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Government Bonds9128287C8 USA TREASURY 1.75% 15JUL2022 1.750 07/15/2022 1,261,088.17 1,257,410.14 (1,843.74) 2, 1,250,000.00 1,255,566.40 658.84 2.72 91282CAN1 USA TREASURY 0.125% 30SEP2022 0.125 09/30/2022 1,248,929.97 1,249,187.99 (3,826.66) 64 1,250,000.00 1,245,361.33 8.18 2.69 912828M80 USA TREASURY 2% 30NOV2022 2.000 11/30/2022 1,269,750.29 1,259,444.94 320.69 6,181. 1,250,000.00 1,259,765.63 32 2.74912828Z29 USA TREASURY 1.5% 15JAN2023 1.500 01/15/2023 1,011,526.79 1,009,635.68 (5,768.49) 1, 1,000,000.00 1,003,867.19 823.20 2.18912828Z86 USA TREASURY 1.375% 15FEB2023 1.375 02/15/2023 1,263,920.20 1,261,666.45 (8,199.65) 61 1,250,000.00 1,253,466.80 7.23 2.73912828ZD5 USA TREASURY 0.5% 15MAR2023 0.500 03/15/2023 1,000,315.85 1,000,270.93 (6,638.12) 2, 1,000,000.00 993,632.81 292.82 2.16 91282CCK5 USA TREASURY 0.125% 30JUN2023 0.125 06/30/2023 792,846.43 793,488.25 (5,457.00) 162.98 800,000.00 788,031.25 1.71 91282CCN9 USA TREASURY 0.125% 31JUL2023 0.125 07/31/2023 989,808.04 990,672.38 (7,117.69) 96.69 2 1,000,000.00 983,554.69 .14 9128282D1 USA TREASURY 1.375% 31AUG2023 1.375 08/31/2023 1,265,970.98 1,264,210.81 (13,576.05) 0 1,250,000.00 1,250,634.76 .00 2.7391282CAW1 USA TREASURY 0.25% 15NOV2023 0.250 11/15/2023 1,000,120.54 1,000,081.10 (19,495.16) 7 1,000,000.00 980,585.94 25.14 2.16912828U57 USA TREASURY 2.125% 30NOV2023 2.125 11/30/2023 661,529.52 654,939.02 2,932.08 3,415.18 650,000.00 657,871.10 1.43 91282CBA8 USA TREASURY 0.125% 15DEC2023 0.125 12/15/2023 1,194,566.52 1,195,556.89 (23,119.39) 3 1,200,000.00 1,172,437.50 09.07 2.58 11 SECURITIES HELD
As of February 28, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Government Bonds91282CBV2 USA TREASURY 0.375% 15APR2024 0.375 04/15/2024 1,001,175.22 1,000,844.72 (24,633.78) 1 1,000,000.00 976,210.94 ,401.10 2.16 91282CCC3 USA TREASURY 0.25% 15MAY2024 0.250 05/15/2024 996,878.35 997,707.76 (25,481.20) 725.1 1,000,000.00 972,226.56 4 2.15 912828D56 USA TREASURY 2.375% 15AUG2024 2.375 08/15/2024 1,038,011.16 1,035,521.86 (16,381.24) 8 1,000,000.00 1,019,140.62 52.90 2.24 9128282Y5 USA TREASURY 2.125% 30SEP2024 2.125 09/30/2024 1,051,800.23 1,043,015.13 (29,577.63) 8 1,000,000.00 1,013,437.50 ,815.25 2.27912828YM6 USA TREASURY 1.5% 31OCT2024 1.500 10/31/2024 1,014,925.23 1,014,020.24 (16,793.68) 4 1,000,000.00 997,226.56 ,972.38 2.19 912828YV6 USA TREASURY 1.5% 30NOV2024 1.500 11/30/2024 722,889.06 719,547.02 (21,816.55) 2,596 700,000.00 697,730.47 .15 1.56 Total Government Bonds 19,600,000.00 19,785,860.59 19,747,094.72 19,519,429.68 (227,665.04) 38,497.30 42.68Municipal/Provincial Bonds888599LS4 PT. SAN ASSESS DISTRICT 5.25% 144A 02SEP2032 5.250 09/02/2032 1,159,300.00 1,159,300.00 0.00 29,755.3 1,159,300.00 1,159,300.00 7 2.50 SANRAF$01
Total Municipal/Provincial Bonds 1,159,300.00 1,159,300.00 1,159,300.00 1,159,300.00 0.00 2.50 29,755.37Grand total 45,368,548.63 46,354,393.89 45,986,949.90 (534,094.09) 45,452,855.81 195,721.12 100.00 12 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of February 28, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
United States Treasury Note/Bond912828ZX1 USA TREASURY 0.125% 0.125 06/30/2022 AA+ Aaa 1,000,000.00 999,808.04 2.16 998,681.63 2.20 0.339128287C8 USA TREASURY 1.75% 1.750 07/15/2022 AA+ Aaa 1,250,000.00 1,261,088.17 2.72 1,255,566.40 2.76 0.3791282CAN1 USA TREASURY 0.125% 0.125 09/30/2022 AA+ Aaa 1,250,000.00 1,248,929.97 2.69 1,245,361.33 2.74 0.58912828M80 USA TREASURY 2% 2.000 11/30/2022 AA+ Aaa 1,250,000.00 1,269,750.29 2.74 1,259,765.63 2.77 0.75912828Z29 USA TREASURY 1.5% 1.500 01/15/2023 AA+ Aaa 1,000,000.00 1,011,526.79 2.18 1,003,867.19 2.21 0.87912828Z86 USA TREASURY 1.375% 1.375 02/15/2023 AA+ Aaa 1,250,000.00 1,263,920.20 2.73 1,253,466.80 2.76 0.96912828ZD5 USA TREASURY 0.5% 0.500 03/15/2023 AA+ Aaa 1,000,000.00 1,000,315.85 2.16 993,632.81 2.19 1.0391282CCK5 USA TREASURY 0.125% 0.125 06/30/2023 AA+ Aaa 800,000.00 792,846.43 1.71 788,031.25 1.73 1.3291282CCN9 USA TREASURY 0.125% 0.125 07/31/2023 AA+ Aaa 1,000,000.00 989,808.04 2.14 983,554.69 2.16 1.419128282D1 USA TREASURY 1.375% 1.375 08/31/2023 AA+ Aaa 1,250,000.00 1,265,970.98 2.73 1,250,634.76 2.75 1.4891282CAW1 USA TREASURY 0.25% 0.250 11/15/2023 AA+ Aaa 1,000,000.00 1,000,120.54 2.16 980,585.94 2.16 1.69912828U57 USA TREASURY 2.125% 2.125 11/30/2023 AA+ Aaa 650,000.00 661,529.52 1.43 657,871.10 1.45 1.7191282CBA8 USA TREASURY 0.125% 0.125 12/15/2023 AA+ Aaa 1,200,000.00 1,194,566.52 2.58 1,172,437.50 2.58 1.7891282CBV2 USA TREASURY 0.375% 0.375 04/15/2024 AA+ Aaa 1,000,000.00 1,001,175.22 2.16 976,210.94 2.15 2.1091282CCC3 USA TREASURY 0.25% 0.250 05/15/2024 AA+ Aaa 1,000,000.00 996,878.35 2.15 972,226.56 2.14 2.19912828D56 USA TREASURY 2.375% 2.375 08/15/2024 AA+ Aaa 1,000,000.00 1,038,011.16 2.24 1,019,140.62 2.24 2.399128282Y5 USA TREASURY 2.125% 2.125 09/30/2024 AA+ Aaa 1,000,000.00 1,051,800.23 2.27 1,013,437.50 2.23 2.49912828YM6 USA TREASURY 1.5% 1.500 10/31/2024 AA+ Aaa 1,000,000.00 1,014,925.23 2.19 997,226.56 2.19 2.60912828YV6 USA TREASURY 1.5% 1.500 11/30/2024 AA+ Aaa 700,000.00 722,889.06 1.56 697,730.47 1.54 2.68Issuer total 19,600,000.00 19,785,860.59 42.68 19,519,429.68 42.94 1.46Federal National Mortgage Association3135G0T78 FANNIE MAE 2% 2.000 10/05/2022 AA+ Aaa 1,250,000.00 1,260,435.75 2.72 1,258,577.93 2.77 0.593135G0U43 FANNIE MAE 2.875% 2.875 09/12/2023 AA+ Aaa 1,000,000.00 1,047,553.22 2.26 1,022,499.60 2.25 1.483135G0V34 FANNIE MAE 2.5% 2.500 02/05/2024 AA+ Aaa 600,000.00 621,262.80 1.34 611,480.86 1.35 1.88 13 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of February 28, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
Federal National Mortgage Association3136G46B4 FANNIE MAE 0.35% 0.350 04/26/2024 04/26/2022 AA+ Aaa 1,200,000.00 1,199,700.00 2.59 1,168,445.04 2.57 2.053135G0V75 FANNIE MAE 1.75% 1.750 07/02/2024 AA+ Aaa 750,000.00 753,426.75 1.63 752,378.24 1.66 2.28Issuer total 4,800,000.00 4,882,378.52 10.53 4,813,381.67 10.59 1.56Federal Home Loan Banks313378WG2 FEDERAL HOME LOAN 2.500 03/11/2022 AA+ Aaa 1,000,000.00 1,016,330.00 2.19 1,000,695.77 2.20 0.033130A3KM5 FEDERAL HOME LOAN 2.500 12/09/2022 AA+ Aaa 1,000,000.00 1,021,240.00 2.20 1,011,397.71 2.23 0.773130AMQQ FEDERAL HOME LOAN 0.350 04/23/2024 03/23/2022 AA+ Aaa 1,000,000.00 1,000,000.00 2.16 978,786.42 2.15 1.97Issuer total 3,000,000.00 3,037,570.00 6.55 2,990,879.90 6.58 0.92Federal Farm Credit Banks Funding Corp3133EMWV FEDERAL FARM CREDIT 0.350 04/22/2024 AA+ Aaa 1,000,000.00 1,000,000.00 2.16 975,471.00 2.15 2.123133EMYR7 FEDERAL FARM CREDIT 0.375 05/06/2024 05/06/2022 AA+ Aaa 1,000,000.00 1,000,000.00 2.16 975,048.77 2.15 2.06 Issuer total 2,000,000.00 2,000,000.00 4.31 1,950,519.77 4.29 2.09 Federal Home Loan Mortgage Corp3137EAEQ8 FREDDIE MAC 0.375% 0.375 04/20/2023 AA+ Aaa 1,250,000.00 1,248,223.75 2.69 1,238,720.60 2.73 1.13 Issuer total 1,250,000.00 1,248,223.75 2.69 1,238,720.60 2.73 1.13 Toyota Motor Credit Corp89236THA6 TOYOTA MOTOR CREDIT 1.350 08/25/2023 A+ A1 700,000.00 714,959.00 1.54 697,560.37 1.53 1.4789236THU2 TOYOTA MOTOR CREDIT 0.450 01/11/2024 A+ A1 480,000.00 479,342.40 1.03 468,623.29 1.03 1.84 Issuer total 1,180,000.00 1,194,301.40 2.58 1,166,183.66 2.57 1.62 PT. SAN ASSESS DISTRICT888599LS4 PT. SAN ASSESS 5.250 09/02/2032 NR NR 1,159,300.00 1,159,300.00 2.50 1,159,300.00 2.55 7.97 Issuer total 1,159,300.00 1,159,300.00 2.50 1,159,300.00 2.55 7.97 14 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of February 28, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
JPMorgan Chase & Co46647PBB1 JPMORGAN CHASE & CO 3.207 04/01/2023 04/01/2022 A- A2 600,000.00 615,576.00 1.33 600,883.96 1.32 0.0946647PAP1 JPMORGAN CHASE & CO 3.559 04/23/2024 04/23/2023 A- A2 500,000.00 534,240.00 1.15 509,398.21 1.12 1.11 Issuer total 1,100,000.00 1,149,816.00 2.48 1,110,282.17 2.44 0.56 Caterpillar Financial Services Corp14912L5X5 CATERPILLAR FINANCIAL 3.750 11/24/2023 A A2 1,000,000.00 1,086,390.00 2.34 1,036,943.82 2.28 1.67 Issuer total 1,000,000.00 1,086,390.00 2.34 1,036,943.82 2.28 1.67 International Business Machines Corp459200HU8 IBM CORP 3.625% 3.625 02/12/2024 A- A3 1,000,000.00 1,086,900.00 2.34 1,036,743.04 2.28 1.89 Issuer total 1,000,000.00 1,086,900.00 2.34 1,036,743.04 2.28 1.89 US Bancorp91159HHV5 US BANCORP 3.375% 3.375 02/05/2024 01/05/2024 A+ A2 1,000,000.00 1,079,130.00 2.33 1,027,502.37 2.26 1.81 Issuer total 1,000,000.00 1,079,130.00 2.33 1,027,502.37 2.26 1.81 Bank of America Corp06051GHC6 BANK OF AMERICA CORP 3.004 12/20/2023 12/20/2022 A- A2 500,000.00 525,795.00 1.13 504,443.69 1.11 0.8006051GHF9 BANK OF AMERICA CORP 3.550 03/05/2024 03/05/2023 A- A2 500,000.00 535,525.00 1.16 507,920.02 1.12 0.98 Issuer total 1,000,000.00 1,061,320.00 2.29 1,012,363.71 2.23 0.89 American Honda Finance Corp02665WDH1 AMERICAN HONDA 1.950 05/10/2023 A- A3 1,000,000.00 1,031,510.00 2.23 1,004,747.81 2.21 1.17 Issuer total 1,000,000.00 1,031,510.00 2.23 1,004,747.81 2.21 1.17 John Deere Capital Corp24422EVN6 JOHN DEERE CAPITAL 0.450 01/17/2024 A A2 1,000,000.00 1,001,230.00 2.16 977,770.25 2.15 1.86 Issuer total 1,000,000.00 1,001,230.00 2.16 977,770.25 2.15 1.86 15 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of February 28, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
PNC Financial Services Group Inc/The693475AV7 PNC FINANCIAL 3.500 01/23/2024 12/24/2023 A- A3 900,000.00 957,939.00 2.07 926,445.31 2.04 1.77 Issuer total 900,000.00 957,939.00 2.07 926,445.31 2.04 1.77 Chevron Corp166764AH3 CHEVRON CORP 3.191% 3.191 06/24/2023 03/24/2023 AA- Aa2 700,000.00 718,781.00 1.55 713,359.33 1.57 1.08 Issuer total 700,000.00 718,781.00 1.55 713,359.33 1.57 1.08 Pfizer Inc717081DM2 PFIZER INC 3.4% 3.400 05/15/2024 A+ A2 500,000.00 537,160.00 1.16 517,630.33 1.14 2.11 Issuer total 500,000.00 537,160.00 1.16 517,630.33 1.14 2.11 PepsiCo Inc713448CM8 PEPSICO INC 3.6% 3.600 03/01/2024 12/01/2023 A+ A1 500,000.00 537,465.00 1.16 516,911.60 1.14 1.75 Issuer total 500,000.00 537,465.00 1.16 516,911.60 1.14 1.75 Citibank NA17325FAS7 CITIBANK NA 3.65% 3.650 01/23/2024 12/23/2023 A+ Aa3 500,000.00 541,470.00 1.17 516,884.63 1.14 1.77 Issuer total 500,000.00 541,470.00 1.17 516,884.63 1.14 1.77 3M Co88579YBB6 3M COMPANY 3.25% 3.250 02/14/2024 01/14/2024 A+ A1 500,000.00 541,935.00 1.17 514,413.17 1.13 1.84 Issuer total 500,000.00 541,935.00 1.17 514,413.17 1.13 1.84 Procter & Gamble Co/The742718EB1 PROCTER & GAMBLE 3.100 08/15/2023 AA- Aa3 500,000.00 520,430.00 1.12 511,499.32 1.13 1.43 Issuer total 500,000.00 520,430.00 1.12 511,499.32 1.13 1.43 16 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of February 28, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
Apple Inc037833AK6 APPLE INC 2.4% 2.400 05/03/2023 AA+ Aaa 500,000.00 506,880.00 1.09 506,218.66 1.11 1.15 Issuer total 500,000.00 506,880.00 1.09 506,218.66 1.11 1.15 Walmart Inc931142DH3 WALMART INC 2.55% 2.550 04/11/2023 01/11/2023 AA Aa2 500,000.00 509,155.00 1.10 505,476.38 1.11 0.91 Issuer total 500,000.00 509,155.00 1.10 505,476.38 1.11 0.91 Cash and Cash Equivalents
INVESTED CASH 0.000 179,248.63 179,248.63 0.00 179,248.63 0.39 0.00 Issuer total 179,248.63 179,248.63 0.00 179,248.63 0.39 0.00 Grand total 45,368,548.63 46,354,393.89 100.00 45,452,855.81 100.00 1.61 17 DETAIL OF RETURN AND INTEREST RECEIVED
For the period February 1, 2022 - February 28, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Cash
Cash and Cash Equivalents 0.00 0.00 0.00 0.57 0.57
Total Cash 0.00 0.00 0.00 0.57 0.57Corporate Bonds
88579YBB6 3M COMPANY 3.25% 14FEB2024 (CALLABLE 14JAN24) (1,194.73) 0.00 (5,059.97) 1,218.75 8,125.00 02665WDH1 AMERICAN HONDA FINANCE 1.95% 10MAY2023 (1,298.48) 0.00 (2,146.12) 1,462.50 0.00 037833AK6 APPLE INC 2.4% 03MAY2023 (157.92) 0.00 (1,721.71) 900.00 0.00 06051GHC6 BANK OF AMERICA CORP 3.004% 20DEC2023 (CALLABLE 20DEC22) (984.54) 0.00 (3,148.65) 1,126.50 0.00 06051GHF9 BANK OF AMERICA CORP 3.55% 05MAR2024 (CALLABLE 05MAR23) (1,123.03) 0.00 (3,247.65) 1,331.25 0.00 14912L5X5 CATERPILLAR FINANCIAL SE 3.75% 24NOV2023 (2,810.96) 0.00 (6,242.61) 2,812.50 0.00 166764AH3 CHEVRON CORP 3.191% 24JUN2023 (CALLABLE 24MAR23) (1,344.70) 0.00 (3,483.85) 1,675.27 0.00 17325FAS7 CITIBANK NA 3.65% 23JAN2024 (CALLABLE 23DEC23) (1,327.75) 0.00 (3,683.32) 1,368.75 0.00 459200HU8 IBM CORP 3.625% 12FEB2024 (2,607.00) 0.00 (3,056.79) 2,718.75 18,125.00 24422EVN6 JOHN DEERE CAPITAL CORP 0.45% 17JAN2024 (37.85) 0.00 (4,863.78) 337.50 0.00 46647PBB1 JPMORGAN CHASE & CO 3.207% 01APR2023 (CALLABLE 01APR22) (1,420.30) 0.00 (1,084.14) 1,443.15 0.00 46647PAP1 JPMORGAN CHASE & CO 3.559% 23APR2024 (CALLABLE 23APR23) (1,296.97) 0.00 (3,601.80) 1,334.63 0.00 713448CM8 PEPSICO INC 3.6% 01MAR2024 (CALLABLE 01DEC23) (1,275.76) 0.00 (3,286.63) 1,350.00 0.00 717081DM2 PFIZER INC 3.4% 15MAY2024 (1,169.78) 0.00 (4,796.23) 1,275.00 0.00 693475AV7 PNC FINANCIAL SERVICES 3.5% 23JAN2024 (CALLABLE 23DEC23) (1,530.91) 0.00 (5,399.71) 2,362.50 0.00 742718EB1 PROCTER & GAMBLE CO/THE 3.1% 15AUG2023 (1,016.42) 0.00 (3,097.36) 1,162.50 7,750.00 89236THU2 TOYOTA MOTOR CREDIT CORP 0.45% 11JAN2024 23.79 0.00 (2,400.82) 162.00 0.00 18 DETAIL OF RETURN AND INTEREST RECEIVED
For the period February 1, 2022 - February 28, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Corporate Bonds
89236THA6 TOYOTA MOTOR CREDIT CORP 1.35% 25AUG2023 (531.09) 0.00 (3,450.47) 708.75 4,725.00 91159HHV5 US BANCORP 3.375% 05FEB2024 (CALLABLE 05JAN24) (2,539.37) 0.00 (8,071.45) 2,531.25 16,875.00 931142DH3 WALMART INC 2.55% 11APR2023 (CALLABLE 11JAN23) (229.83) 0.00 (1,597.74) 956.25 0.00 Total Corporate Bonds (23,873.60) (73,440.80) 55,600.00 0.00 28,237.80Government Agencies 3136G46B4 FANNIE MAE 0.35% 26APR2024 (CALLABLE 26APR22) 7.40 0.00 (7,123.20) 315.00 0.00 3135G0V75 FANNIE MAE 1.75% 02JUL2024 (61.23) 0.00 (5,422.30) 984.38 0.00 3135G0T78 FANNIE MAE 2% 05OCT2022 (981.73) 0.00 (3,336.65) 1,875.00 0.00 3135G0V34 FANNIE MAE 2.5% 05FEB2024 (412.87) 0.00 (4,288.13) 1,125.00 7,500.00 3135G0U43 FANNIE MAE 2.875% 12SEP2023 (998.32) 0.00 (6,013.75) 2,156.25 0.00 3133EMWV0 FEDERAL FARM CREDIT BANK 0.35% 22APR2024 0.00 0.00 (5,303.87) 262.50 0.00 3133EMYR7 FEDERAL FARM CREDIT BANK 0.375% 06MAY2024 (CALLABLE 06MAY22) 0.00 0.00 (5,355.56) 281.25 0.00 3130AMQQ8 FEDERAL HOME LOAN BANK 0.35% 23APR2024 (CALLABLE 23MAR22) 0.00 0.00 (5,313.23) 262.50 0.00 3130A3KM5 FEDERAL HOME LOAN BANK 2.5% 09DEC2022 (514.28) 0.00 (1,711.01) 1,875.00 0.00 313378WG2 FEDERAL HOME LOAN BANK 2.5% 11MAR2022 (495.35) 0.00 (2,235.43) 1,875.00 0.00 3137EAEQ8 FREDDIE MAC 0.375% 20APR2023 111.25 0.00 (2,845.73) 351.57 0.00 Total Government Agencies (3,345.13) (48,948.86) 7,500.00 0.00 11,363.45Government Bonds 91282CBA8 USA TREASURY 0.125% 15DEC2023 189.93 0.00 (4,921.87) 115.39 0.00 912828ZX1 USA TREASURY 0.125% 30JUN2022 29.05 0.00 (185.56) 96.69 0.00 19 DETAIL OF RETURN AND INTEREST RECEIVED
For the period February 1, 2022 - February 28, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Government Bonds
91282CCK5 USA TREASURY 0.125% 30JUN2023 374.40 0.00 (2,218.75) 77.34 0.00 91282CAN1 USA TREASURY 0.125% 30SEP2022 106.24 0.00 (1,025.40) 120.19 0.00 91282CCN9 USA TREASURY 0.125% 31JUL2023 504.20 0.00 (2,929.69) 96.69 0.00 91282CCC3 USA TREASURY 0.25% 15MAY2024 79.53 0.00 (5,273.44) 193.37 0.00 91282CAW1 USA TREASURY 0.25% 15NOV2023 (3.63) 0.00 (3,945.31) 193.37 0.00 91282CBV2 USA TREASURY 0.375% 15APR2024 (30.44) 0.00 (5,351.56) 288.46 0.00 912828ZD5 USA TREASURY 0.5% 15MAR2023 (19.97) 0.00 (2,460.94) 386.74 0.00 912828Z86 USA TREASURY 1.375% 15FEB2023 (928.02) 0.00 (3,857.43) 1,317.81 8,593.75 9128282D1 USA TREASURY 1.375% 31AUG2023 (724.77) 0.00 (5,517.59) 1,329.42 8,593.75 912828Z29 USA TREASURY 1.5% 15JAN2023 (840.49) 0.00 (2,773.43) 1,160.22 0.00 912828YV6 USA TREASURY 1.5% 30NOV2024 (544.06) 0.00 (5,031.25) 807.69 0.00 912828YM6 USA TREASURY 1.5% 31OCT2024 (402.22) 0.00 (6,992.19) 1,160.22 0.00 9128287C8 USA TREASURY 1.75% 15JUL2022 (1,514.48) 0.00 (1,757.83) 1,691.99 0.00 912828M80 USA TREASURY 2% 30NOV2022 (961.67) 0.00 (3,369.13) 1,923.08 0.00 912828U57 USA TREASURY 2.125% 30NOV2023 (216.08) 0.00 (3,656.25) 1,062.50 0.00 9128282Y5 USA TREASURY 2.125% 30SEP2024 (1,274.52) 0.00 (7,578.12) 1,634.62 0.00 912828D56 USA TREASURY 2.375% 15AUG2024 (1,106.36) 0.00 (7,734.38) 1,820.97 11,875.00 Total Government Bonds (7,283.36) (76,580.12) 29,062.50 0.00 15,476.76 20 DETAIL OF RETURN AND INTEREST RECEIVED
For the period February 1, 2022 - February 28, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Municipal/Provincial Bonds
888599LS4 PT. SAN ASSESS DISTRICT 5.25% 144A 02SEP2032 SANRAF$01 0.00 0.00 0.00 4,564.75 0.00 Total Municipal/Provincial Bonds 0.00 0.00 0.00 4,564.75 0.00Grand total (34,502.09) (198,969.78) 92,163.07 0.00 59,643.33 21 TRANSACTION REPORT
For the period February 1, 2022 - February 28, 2022

SAN RAFAEL
Maturity Par value or
shares
Trade date Cusip Sec type Description Transaction Principal Interest Transaction totalSettle date Realized
gain(loss)
02/05/2022 7,500.0002/05/2022
3135G0V34 Government Agencies FANNIE MAE 2.5% 05FEB20 Income 24 02/05/2024 600,000.00 0.00 7,500.00 0.00 02/07/2022 16,875.0002/07/2022
91159HHV5 Corporate Bonds US BANCORP 3.375% 02/05/2024 Income 1,000,000.00 0.00 16,875.00 0.00 02/12/2022 18,125.0002/12/2022
459200HU8 Corporate Bonds IBM CORP 3.625% 12FEB2024 02 Income /12/2024 1,000,000.00 0.00 18,125.00 0.00 02/14/2022 8,125.0002/14/2022
88579YBB6 Corporate Bonds 3M COMPANY 3.25% 02/14/2024 5 Income 00,000.00 0.00 8,125.00 0.00 02/15/2022 7,750.0002/15/2022
742718EB1 Corporate Bonds PROCTER & GAMBLE CO/THE 08/1 Income 5/2023 500,000.00 0.00 7,750.00 0.00 02/15/2022 11,875.0002/15/2022
912828D56 Government Bonds USA TREASURY 2.375% 08/15/2 Income 024 1,000,000.00 0.00 11,875.00 0.00 02/15/2022 8,593.7502/15/2022
912828Z86 Government Bonds USA TREASURY 1.375% 02/15/2 Income 023 1,250,000.00 0.00 8,593.75 0.00 02/25/2022 4,725.0002/25/2022
89236THA6 Corporate Bonds TOYOTA MOTOR CREDIT CORP 08/ Income 25/2023 700,000.00 0.00 4,725.00 0.00 02/28/2022 8,593.7502/28/2022
9128282D1 Government Bonds USA TREASURY 1.375% 08/31/2 Income 023 1,250,000.00 0.00 8,593.75 0.00 02/28/2022 Income Cash and Cash Equivalents Cash 0.00 0.00 0.00 0.57 0.57 22 ADDITIONAL INFORMATION
As of February 28, 2022

SAN RAFAEL
Insight does not provide tax or legal advice to its clients and all investors are strongly urged to consult their tax and legal advisors regarding any potential strategy or investment.

Insight is a group of wholly owned subsidiaries of The Bank of New York Mellon Corporation. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference the Corporation as a whole or its various subsidiaries generally. Products and services may be provided under various brand names and in various countries by subsidiaries, affiliates and joint ventures of The Bank of New York Mellon Corporation where authorized and regulated as required within each jurisdiction. Unless you are notified to the contrary, the products and services mentioned are not insured by the FDIC (or by any governmental entity)and are not guaranteed by or obligations of The Bank of New York Mellon Corporation or any of its affiliates. The Bank of New York Corporation assumes no responsibility for the accuracy or completeness of the above data and disclaims all expressed or implied warranties in connection therewith.© 2022 Insight Investment. All rights reserved. 24 FOR PROFESSIONAL CLIENTS ONLY
NOT TO BE REPRODUCED WITHOUT PRIOR WRITTEN APPROVALPLEASE REFER TO ALL RISK DISCLOSURES AT THE BACK OF THIS DOCUMENTSAN RAFAELMarch 2022 Contents
Fixed income market review 3Activity and performance summary 4Recap of securities held 6Maturity distribution of securities held 7Securities held 8GASB 40 - Deposit and investment risk disclosure 13Securities purchased 18Securities sold and matured 19Detail of return and interest received 20Transaction report 24Additional information 25

FIXED INCOME MARKET REVIEW
As of March 31, 2022

SAN RAFAEL
Chart 1: Commodity prices become increasingly volatileSource: Bloomberg, March 31, 2022Chart 2: Short-end Treasury yields rise as the Fed becomes more hawkishSource: Bloomberg, March 31, 2022 Economic Indicators and Monetary PolicyThe Federal Reserve (Fed) kicked-off its rate hiking cycle, with its first rate rise since2018. The Fed’s quarterly dot plotwas increasingly hawkish for the third straight meeting. The median projection rose to seven rate hikes this year, up from four inDecember. This implies one 25bp hike at every remaining meeting this year. Sevenmembers were even more hawkish than this, pointing to openness toward 50bpmoves.CPI recorded another multi-decade high, albeit this time in line with expectations at7.9% year-on-year, while Core CPI was 6.4%. Within the “sticky” categories, Notably,healthcare inflation moderated. In the shelter categories, owners’ equivalent rentmaintained its recent pace at 0.4%, while rents accelerated to 0.6%.Employment growth continued its strong run, with nonfarm jobs up 678,000, wellabove consensus estimates for ~500,000. The unemployment rate fell to 3.8% from4%, further than expected even as the participation rate ticked up to 62.3%, a newcycle high. Average hourly earnings, the most anticipated element of the employmentreport, underwhelmed however, by remaining unchanged. However, idiosyncraticissues likely played a part following disruptions relating to the Omicron Covid-19variant.The war in Ukraine continued with Russia failing to take control of Kyiv and toward theend of the month, appearing to concentrate on Ukraine’s Eastern regions. Tentativepeace talks began by the end of the month, albeit terms of an agreement still far off.The US announced a ban of imports on Russian oil and gas and the release of up to180m barrels of domestic oil reserves over six months. This is the largest releasesince the reserve was created in 1974. Commodity prices continued to be volatile,particularly oil, gas, wheat and other agricultural commodities (Chart 1).Interest Rate Summary Yields rose materially across the curve, particularly the short end (Chart 2). At the endof March, the 3-month US Treasury bill yielded 0.51%, the 6-month US Treasury billyielded 1.03%, the 2-year US Treasury note yielded 2.34%, the 5-year US Treasury noteyielded 2.46% and the 10-year US Treasury note yielded 2.34%. 3 130 120 110
= 100
ro 90 Ll
80 70
60 50
Jan-21

3.0%

2.5%
-02.0%
-.;
·5,
i;1.5%
U)
"'
1-1.0%

0.5% ......

Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22
Russia full scale invasion of Ukraine --WTI Crude oil
....
....
....
....
....
....
....
....
....
....
-----------
-------------
----

0.0% --------~---~-----------~---~
3M 6M 1Y 2Y 3Y 5Y 7Y 10Y
--Mar-22 ----- Feb-22

ACTIVITY AND PERFORMANCE SUMMARY
For the period March 1, 2022 - March 31, 2022

SAN RAFAEL
Amortized Cost Basis Activity Summary
Opening balance 45,986,949.90
Income received 87,988.50
Total receipts 87,988.50
Participant withdrawals (30,431.63)Expenses paid (500.00) Total disbursements (30,931.63)
Interportfolio transfers 0.00
Total Interportfolio transfers 0.00
Realized gain (loss) 0.00Change in accruals from security movement 0.00 Total amortization expense (36,521.00)Total OID/MKT accretion income 1,562.82 Return of capital 0.00
Closing balance 46,009,048.59Ending fair value 45,046,899.59 Unrealized gain (loss) (962,149.00)
Comparative Rates of Return (%)
* Twelve
month trailing
* Six
month trailing
* One month
Fed Funds 0.09 0.05 0.02Overnight Repo 0.05 0.03 0.01Merrill Lynch 3m US Treas Bill 0.09 0.08 0.03Merrill Lynch 6m US Treas Bill 0.16 0.14 0.06ML 1 Year US Treasury Note 0.32 0.29 0.11ML 2 Year US Treasury Note 0.59 0.49 0.16ML 5 Year US Treasury Note 1.16 0.74 0.18 * rates reflected are cumulative
Summary of Amortized Cost Basis Return for the Period
Total portfolio
Interest earned 70,647.04Accretion (amortization) (34,958.18)Realized gain (loss) on sales 0.00Total income on portfolio 35,688.86Average daily amortized cost 46,002,490.17Period return (%)Weighted average final maturity in days 625YTD return (%) Detail of Amortized Cost Basis Return
Interest
earned
Realized
gain (loss)
Accretion
(amortization)
Total
income
Cash and Cash Equivalents 0.62 0.00 0.62 0.00Corporate Bonds 34,512.87 (23,757.09) 10,755.78 0.00Government Agencies 13,416.42 (3,137.38) 10,279.04 0.00Government Bonds 17,138.00 (8,063.71) 9,074.29 0.00Municipal/Provincial Bonds 5,579.13 0.00 5,579.13 0.00Total 70,647.04 (34,958.18) 0.00 35,688.86

0.080.20
4 ACTIVITY AND PERFORMANCE SUMMARY
For the period March 1, 2022 - March 31, 2022

SAN RAFAEL
Fair Value Basis Activity Summary
Opening balance 45,452,855.81
Income received 87,988.50
Total receipts 87,988.50
Participant withdrawals (30,431.63)Expenses paid (500.00) Total disbursements (30,931.63)
Interportfolio transfers 0.00
Total Interportfolio transfers 0.00
Unrealized gain (loss) on security movements 0.00Change in accruals from security movement 0.00Return of capital 0.00Change in fair value for the period (463,013.09) Ending fair value 45,046,899.59
Comparative Rates of Return (%)
* Twelve
month trailing
* Six
month trailing
* One month
Fed Funds 0.09 0.05 0.02Overnight Repo 0.05 0.03 0.01ICE Bofa 3 Months US T-BILL 0.06 0.05 0.03ICE Bofa 6m US Treas Bill (0.05) (0.08) (0.03)ICE Bofa 1 Yr US Treasury Note (0.94) (0.98) (0.38)ICE BofA US Treasury 1-3 (2.84) (2.86) (1.33)ICE BofA US Treasury 1-5 (3.72) (3.82) (1.86) * rates reflected are cumulative
Detail of Fair Value Basis Return
Interest
earned
Change in
fair value
Total
income
Cash and Cash Equivalents 0.62 0.00 0.62Corporate Bonds 34,512.87 (151,827.47) (117,314.60)Government Agencies 13,416.42 (114,130.94) (100,714.52)Government Bonds 17,138.00 (197,054.68) (179,916.68)Municipal/Provincial Bonds 5,579.13 0.00 5,579.13Total 70,647.04 (463,013.09) (392,366.05) Summary of Fair Value Basis Return for the Period
Total portfolio
Interest earned 70,647.04Total income on portfolio (392,366.05)Average daily total value * 45,390,282.27Period return (%) (0.86)Weighted average final maturity in days 625Change in fair value (463,013.09)YTD return (%) (1.73)* Total value equals market value and accrued interest 5 RECAP OF SECURITIES HELD
As of March 31, 2022

SAN RAFAEL
Weighted
average
final
maturity (days)
Weighted
average
effective
duration (years)
Percent
of
portfolio
Amortized
cost
Historical
cost
Fair value Unrealized
gain (loss)
Cash and Cash Equivalents 34,607.41 34,607.41 34,607.41 0.00 1 0.07 0.00 Corporate Bonds 14,061,812.40 13,787,602.54 13,449,548.09 (338,054.45) 594 30.31 1.40Government Agencies 11,353,540.36 11,288,507.63 11,081,069.09 (207,438.54) 541 24.47 1.45Government Bonds 19,785,860.59 19,739,031.01 19,322,375.00 (416,656.01) 510 42.65 1.37 Municipal/Provincial Bonds 1,159,300.00 1,159,300.00 1,159,300.00 0.00 3,808 2.50 8.03 Total 46,395,120.76 46,009,048.59 45,046,899.59 (962,149.00) 625 100.00 1.56 Cash and Cash EquivalentsCorporate BondsGovernment AgenciesGovernment BondsMunicipal/Provincial Bonds Portfolio diversification (%)
Cash and Cash Equivalents 0.07Corporate Bonds 30.31Government Agencies 24.47Government Bonds 42.65Municipal/Provincial Bonds 2.50 Portfolio diversification (%)
6 Total 100.00

MATURITY DISTRIBUTION OF SECURITIES HELD
As of March 31, 2022

SAN RAFAEL
Maturity Historic cost PercentUnder 90 days 34,607.41 0.0890 to 179 days 2,260,896.21 4.87180 days to 1 year 11,567,072.94 24.931 to 2 years 20,057,278.20 43.232 to 3 years 11,315,966.00 24.393 to 4 years 0.00 0.004 to 5 years 0.00 0.00Over 5 years 1,159,300.00 2.50 46,395,120.76 100.00
Maturity distribution

0.005.00

10.0015.0020.0025.00
Historical cost (mm)
Under 90 days
90 to 179 days
180 days to 1 year
1 to 2 years
2 to 3 years
3 to 4 years
4 to 5 years
Over 5 years
7 SECURITIES HELD
As of March 31, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Cash and Cash Equivalents
Cash and Cash Equivalents 0.000 34,607.41 34,607.41 34,607.41 0.00 0.00 0.07 34,607.41 Total Cash and Cash Equivalents 34,607.41 34,607.41 34,607.41 34,607.41 0.00 0.07 0.00Corporate Bonds46647PBB1 3.207 04/01/2023 615,576.00 600,000.00 0.00 9,621.00 03/01/2023
JPMORGAN CHASE & CO 3.207% 01APR2023 (CALLABLE 600,000.00 600,000.00 1.3301APR22) 931142DH3 2.550 04/11/2023 509,155.00 502,152.77 842.28 6,020.83 01/11/2023
WALMART INC 2.55% 11APR2023 (CALLABLE 11JAN23) 500,000.00 502,995.05 1.10 037833AK6 APPLE INC 2.4% 03MAY2023 2.400 05/03/2023 506,880.00 502,068.74 630.41 4,933.33 1. 500,000.00 502,699.15 09 02665WDH1 AMERICAN HONDA FINANCE 1.95% 10MAY2023 1.950 05/10/2023 1,031,510.00 1,017,313.19 (22,021.05) 7 1,000,000.00 995,292.14 ,637.50 2.22166764AH3 3.191 06/24/2023 718,781.00 715,867.48 (8,277.48) 6,018.58 03/24/2023
CHEVRON CORP 3.191% 24JUN2023 (CALLABLE 700,000.00 707,590.00 1.5524MAR23) 742718EB1 PROCTER & GAMBLE CO/THE 3.1% 15AUG2023 3.100 08/15/2023 520,430.00 516,770.90 (11,445.00) 1,980 500,000.00 505,325.90 .56 1.1289236THA6 TOYOTA MOTOR CREDIT CORP 1.35% 25AUG2023 1.350 08/25/2023 714,959.00 708,939.99 (17,569.21) 945.0 700,000.00 691,370.78 0 1.5414912L5X5 CATERPILLAR FINANCIAL SE 3.75% 24NOV2023 3.750 11/24/2023 1,086,390.00 1,055,656.90 (30,893.38) 1 1,000,000.00 1,024,763.52 3,229.17 2.34 06051GHC6 3.004 12/20/2023 525,795.00 508,532.70 (7,270.26) 4,213.94 12/20/2022
BANK OF AMERICA CORP 3.004% 20DEC2023 500,000.00 501,262.44 1.13(CALLABLE 20DEC22) 89236THU2 TOYOTA MOTOR CREDIT CORP 0.45% 11JAN2024 0.450 01/11/2024 479,342.40 479,491.53 (15,920.44) 480.0 480,000.00 463,571.09 0 1.03 8 SECURITIES HELD
As of March 31, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Corporate Bonds24422EVN6 JOHN DEERE CAPITAL CORP 0.45% 17JAN2024 0.450 01/17/2024 1,001,230.00 1,000,816.22 (34,672.79) 9 1,000,000.00 966,143.43 25.00 2.16 17325FAS7 3.650 01/23/2024 541,470.00 527,572.90 (18,774.19) 3,447.22 12/23/2023
CITIBANK NA 3.65% 23JAN2024 (CALLABLE 23DEC23) 500,000.00 508,798.71 1.17 693475AV7 3.500 01/23/2024 957,939.00 931,791.90 (19,102.09) 5,950.00 12/24/2023
PNC FINANCIAL SERVICES 3.5% 23JAN2024 (CALLABLE 900,000.00 912,689.81 2.0623DEC23) 91159HHV5 3.375 02/05/2024 1,079,130.00 1,052,098.01 (38,347.92) 5,250.00 01/05/2024
US BANCORP 3.375% 05FEB2024 (CALLABLE 05JAN24) 1,000,000.00 1,013,750.09 2.33 459200HU8 IBM CORP 3.625% 12FEB2024 3.625 02/12/2024 1,086,900.00 1,058,396.80 (40,313.45) 4 1,000,000.00 1,018,083.35 ,934.03 2.3488579YBB6 3.250 02/14/2024 541,935.00 525,646.86 (19,108.38) 2,121.53 01/14/2024
3M COMPANY 3.25% 14FEB2024 (CALLABLE 14JAN24) 500,000.00 506,538.48 1.17 713448CM8 3.600 03/01/2024 537,465.00 525,557.85 (14,299.43) 1,500.00 12/01/2023
PEPSICO INC 3.6% 01MAR2024 (CALLABLE 01DEC23) 500,000.00 511,258.42 1.16 06051GHF9 3.550 03/05/2024 535,525.00 512,540.44 (9,685.80) 1,281.94 03/05/2023
BANK OF AMERICA CORP 3.55% 05MAR2024 (CALLABLE 500,000.00 502,854.64 1.1505MAR23) 46647PAP1 3.559 04/23/2024 534,240.00 516,557.98 (11,914.18) 7,810.03 04/23/2023
JPMORGAN CHASE & CO 3.559% 23APR2024 (CALLABLE 500,000.00 504,643.80 1.1523APR23) 717081DM2 PFIZER INC 3.4% 15MAY2024 3.400 05/15/2024 537,160.00 529,829.38 (19,912.09) 6,422 500,000.00 509,917.29 .22 1.16 Total Corporate Bonds 13,380,000.00 14,061,812.40 13,787,602.54 13,449,548.09 (338,054.45) 94,721.88 30.31Government Agencies3135G0T78 FANNIE MAE 2% 05OCT2022 2.000 10/05/2022 1,260,435.75 1,256,053.94 (751.56) 12,2 1,250,000.00 1,255,302.38 22.22 2.72 9 SECURITIES HELD
As of March 31, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Government Agencies3130A3KM5 FEDERAL HOME LOAN BANK 2.5% 09DEC2022 2.500 12/09/2022 1,021,240.00 1,004,268.57 3,366.81 7,77 1,000,000.00 1,007,635.38 7.78 2.20 3130AJ7E3 FEDERAL HOME LOAN BANK 1.375% 17FEB2023 1.375 02/17/2023 1,201,698.09 1,201,592.59 (3,923.40) 2, 1,200,000.00 1,197,669.19 016.67 2.59 3137EAEQ8 FREDDIE MAC 0.375% 20APR2023 0.375 04/20/2023 1,248,223.75 1,248,590.87 (16,646.83) 2 1,250,000.00 1,231,944.04 ,096.35 2.693135G0U43 FANNIE MAE 2.875% 12SEP2023 2.875 09/12/2023 1,047,553.22 1,017,370.74 (7,226.94) 1, 1,000,000.00 1,010,143.80 517.36 2.26 3135G0V34 FANNIE MAE 2.5% 05FEB2024 2.500 02/05/2024 621,262.80 609,151.95 (6,531.11) 2,333. 600,000.00 602,620.84 33 1.34 3133EMWV0 FEDERAL FARM CREDIT BANK 0.35% 22APR2024 0.350 04/22/2024 1,000,000.00 1,000,000.00 (37,379.63) 1 1,000,000.00 962,620.37 ,545.83 2.163130AMQQ8 0.350 04/23/2024 1,000,000.00 1,000,000.00 (36,488.81) 952.78 06/23/2022
FEDERAL HOME LOAN BANK 0.35% 23APR2024 1,000,000.00 963,511.19 2.16(CALLABLE 23JUN22) 3136G46B4 0.350 04/26/2024 1,199,700.00 1,199,821.72 (49,542.28) 1,808.33 04/26/2022
FANNIE MAE 0.35% 26APR2024 (CALLABLE 26APR22) 1,200,000.00 1,150,279.44 2.59 3133EMYR7 0.375 05/06/2024 1,000,000.00 1,000,000.00 (40,334.32) 1,510.42 05/06/2022
FEDERAL FARM CREDIT BANK 0.375% 06MAY2024 1,000,000.00 959,665.68 2.16(CALLABLE 06MAY22) 3135G0V75 FANNIE MAE 1.75% 02JUL2024 1.750 07/02/2024 753,426.75 751,657.25 (11,980.47) 3,244 750,000.00 739,676.78 .79 1.62 Total Government Agencies 11,250,000.00 11,353,540.36 11,288,507.63 11,081,069.09 (207,438.54) 37,025.86 24.47Government Bonds912828ZX1 USA TREASURY 0.125% 30JUN2022 0.125 06/30/2022 999,808.04 999,905.58 (1,038.39) 310.77 1,000,000.00 998,867.19 2.15 10 SECURITIES HELD
As of March 31, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Government Bonds9128287C8 USA TREASURY 1.75% 15JUL2022 1.750 07/15/2022 1,261,088.17 1,255,733.40 (1,924.80) 4, 1,250,000.00 1,253,808.60 532.11 2.72 91282CAN1 USA TREASURY 0.125% 30SEP2022 0.125 09/30/2022 1,248,929.97 1,249,305.62 (5,018.51) 0. 1,250,000.00 1,244,287.11 00 2.69 912828M80 USA TREASURY 2% 30NOV2022 2.000 11/30/2022 1,269,750.29 1,258,380.24 (2,911.49) 8, 1,250,000.00 1,255,468.75 310.44 2.74 912828Z29 USA TREASURY 1.5% 15JAN2023 1.500 01/15/2023 1,011,526.79 1,008,705.13 (8,822.32) 3, 1,000,000.00 999,882.81 107.74 2.18 912828Z86 USA TREASURY 1.375% 15FEB2023 1.375 02/15/2023 1,263,920.20 1,260,639.01 (12,933.93) 2 1,250,000.00 1,247,705.08 ,089.09 2.72912828ZD5 USA TREASURY 0.5% 15MAR2023 0.500 03/15/2023 1,000,315.85 1,000,248.83 (11,186.33) 2 1,000,000.00 989,062.50 17.39 2.16 91282CCK5 USA TREASURY 0.125% 30JUN2023 0.125 06/30/2023 792,846.43 793,902.75 (11,934.00) 248.6 800,000.00 781,968.75 2 1.7191282CCN9 USA TREASURY 0.125% 31JUL2023 0.125 07/31/2023 989,808.04 991,230.59 (16,425.90) 203.7 1,000,000.00 974,804.69 3 2.139128282D1 USA TREASURY 1.375% 31AUG2023 1.375 08/31/2023 1,265,970.98 1,263,408.38 (25,810.73) 1 1,250,000.00 1,237,597.65 ,447.86 2.7391282CAW1 USA TREASURY 0.25% 15NOV2023 0.250 11/15/2023 1,000,120.54 1,000,077.07 (31,092.69) 9 1,000,000.00 968,984.38 39.23 2.16 912828U57 USA TREASURY 2.125% 30NOV2023 2.125 11/30/2023 661,529.52 654,699.78 (5,613.84) 4,591. 650,000.00 649,085.94 52 1.43 91282CBA8 USA TREASURY 0.125% 15DEC2023 0.125 12/15/2023 1,194,566.52 1,195,767.18 (38,142.18) 4 1,200,000.00 1,157,625.00 36.81 2.57 11 SECURITIES HELD
As of March 31, 2022

SAN RAFAEL
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Government Bonds91282CBV2 USA TREASURY 0.375% 15APR2024 0.375 04/15/2024 1,001,175.22 1,000,811.02 (40,264.14) 1 1,000,000.00 960,546.88 ,720.47 2.16 91282CCC3 USA TREASURY 0.25% 15MAY2024 0.250 05/15/2024 996,878.35 997,795.81 (41,975.50) 939.2 1,000,000.00 955,820.31 3 2.15912828D56 USA TREASURY 2.375% 15AUG2024 2.375 08/15/2024 1,038,011.16 1,034,296.97 (36,601.66) 2 1,000,000.00 997,695.31 ,886.74 2.249128282Y5 USA TREASURY 2.125% 30SEP2024 2.125 09/30/2024 1,051,800.23 1,041,604.05 (49,963.43) 0 1,000,000.00 991,640.62 .00 2.27912828YM6 USA TREASURY 1.5% 31OCT2024 1.500 10/31/2024 1,014,925.23 1,013,574.92 (37,949.92) 6 1,000,000.00 975,625.00 ,256.91 2.19912828YV6 USA TREASURY 1.5% 30NOV2024 1.500 11/30/2024 722,889.06 718,944.68 (37,046.25) 3,490 700,000.00 681,898.43 .39 1.56 Total Government Bonds 19,600,000.00 19,785,860.59 19,739,031.01 19,322,375.00 (416,656.01) 41,729.05 42.65Municipal/Provincial Bonds888599LS4 PT. SAN ASSESS DISTRICT 5.25% 144A 02SEP2032 5.250 09/02/2032 1,159,300.00 1,159,300.00 0.00 4,902.87 1,159,300.00 1,159,300.00 2.50 SANRAF$01
Total Municipal/Provincial Bonds 1,159,300.00 1,159,300.00 1,159,300.00 1,159,300.00 0.00 2.50 4,902.87Grand total 45,423,907.41 46,395,120.76 46,009,048.59 (962,149.00) 45,046,899.59 178,379.66 100.00 12 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of March 31, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
United States Treasury Note/Bond912828ZX1 USA TREASURY 0.125% 0.125 06/30/2022 AA+ Aaa 1,000,000.00 999,808.04 2.15 998,867.19 2.22 0.259128287C8 USA TREASURY 1.75% 1.750 07/15/2022 AA+ Aaa 1,250,000.00 1,261,088.17 2.72 1,253,808.60 2.78 0.2991282CAN1 USA TREASURY 0.125% 0.125 09/30/2022 AA+ Aaa 1,250,000.00 1,248,929.97 2.69 1,244,287.11 2.76 0.50912828M80 USA TREASURY 2% 2.000 11/30/2022 AA+ Aaa 1,250,000.00 1,269,750.29 2.74 1,255,468.75 2.79 0.66912828Z29 USA TREASURY 1.5% 1.500 01/15/2023 AA+ Aaa 1,000,000.00 1,011,526.79 2.18 999,882.81 2.22 0.79912828Z86 USA TREASURY 1.375% 1.375 02/15/2023 AA+ Aaa 1,250,000.00 1,263,920.20 2.72 1,247,705.08 2.77 0.87912828ZD5 USA TREASURY 0.5% 0.500 03/15/2023 AA+ Aaa 1,000,000.00 1,000,315.85 2.16 989,062.50 2.20 0.9591282CCK5 USA TREASURY 0.125% 0.125 06/30/2023 AA+ Aaa 800,000.00 792,846.43 1.71 781,968.75 1.74 1.2491282CCN9 USA TREASURY 0.125% 0.125 07/31/2023 AA+ Aaa 1,000,000.00 989,808.04 2.13 974,804.69 2.16 1.329128282D1 USA TREASURY 1.375% 1.375 08/31/2023 AA+ Aaa 1,250,000.00 1,265,970.98 2.73 1,237,597.65 2.75 1.4091282CAW1 USA TREASURY 0.25% 0.250 11/15/2023 AA+ Aaa 1,000,000.00 1,000,120.54 2.16 968,984.38 2.15 1.61912828U57 USA TREASURY 2.125% 2.125 11/30/2023 AA+ Aaa 650,000.00 661,529.52 1.43 649,085.94 1.44 1.6291282CBA8 USA TREASURY 0.125% 0.125 12/15/2023 AA+ Aaa 1,200,000.00 1,194,566.52 2.57 1,157,625.00 2.57 1.6991282CBV2 USA TREASURY 0.375% 0.375 04/15/2024 AA+ Aaa 1,000,000.00 1,001,175.22 2.16 960,546.88 2.13 2.0191282CCC3 USA TREASURY 0.25% 0.250 05/15/2024 AA+ Aaa 1,000,000.00 996,878.35 2.15 955,820.31 2.12 2.10912828D56 USA TREASURY 2.375% 2.375 08/15/2024 AA+ Aaa 1,000,000.00 1,038,011.16 2.24 997,695.31 2.21 2.309128282Y5 USA TREASURY 2.125% 2.125 09/30/2024 AA+ Aaa 1,000,000.00 1,051,800.23 2.27 991,640.62 2.20 2.43912828YM6 USA TREASURY 1.5% 1.500 10/31/2024 AA+ Aaa 1,000,000.00 1,014,925.23 2.19 975,625.00 2.17 2.51912828YV6 USA TREASURY 1.5% 1.500 11/30/2024 AA+ Aaa 700,000.00 722,889.06 1.56 681,898.43 1.51 2.59Issuer total 19,600,000.00 19,785,860.59 42.65 19,322,375.00 42.89 1.37Federal National Mortgage Association3135G0T78 FANNIE MAE 2% 2.000 10/05/2022 AA+ Aaa 1,250,000.00 1,260,435.75 2.72 1,255,302.38 2.79 0.513135G0U43 FANNIE MAE 2.875% 2.875 09/12/2023 AA+ Aaa 1,000,000.00 1,047,553.22 2.26 1,010,143.80 2.24 1.423135G0V34 FANNIE MAE 2.5% 2.500 02/05/2024 AA+ Aaa 600,000.00 621,262.80 1.34 602,620.84 1.34 1.80 13 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of March 31, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
Federal National Mortgage Association3136G46B4 FANNIE MAE 0.35% 0.350 04/26/2024 04/26/2022 AA+ Aaa 1,200,000.00 1,199,700.00 2.59 1,150,279.44 2.55 2.023135G0V75 FANNIE MAE 1.75% 1.750 07/02/2024 AA+ Aaa 750,000.00 753,426.75 1.62 739,676.78 1.64 2.19Issuer total 4,800,000.00 4,882,378.52 10.52 4,758,023.24 10.56 1.50Federal Home Loan Banks3130A3KM5 FEDERAL HOME LOAN 2.500 12/09/2022 AA+ Aaa 1,000,000.00 1,021,240.00 2.20 1,007,635.38 2.24 0.683130AJ7E3 FEDERAL HOME LOAN 1.375 02/17/2023 AA+ Aaa 1,200,000.00 1,201,698.09 2.59 1,197,669.19 2.66 0.883130AMQQ FEDERAL HOME LOAN 0.350 04/23/2024 06/23/2022 AA+ Aaa 1,000,000.00 1,000,000.00 2.16 963,511.19 2.14 2.01Issuer total 3,200,000.00 3,222,938.09 6.95 3,168,815.76 7.03 1.17Federal Farm Credit Banks Funding Corp3133EMWV FEDERAL FARM CREDIT 0.350 04/22/2024 AA+ Aaa 1,000,000.00 1,000,000.00 2.16 962,620.37 2.14 2.033133EMYR7 FEDERAL FARM CREDIT 0.375 05/06/2024 05/06/2022 AA+ Aaa 1,000,000.00 1,000,000.00 2.16 959,665.68 2.13 2.04 Issuer total 2,000,000.00 2,000,000.00 4.31 1,922,286.05 4.27 2.04 Federal Home Loan Mortgage Corp3137EAEQ8 FREDDIE MAC 0.375% 0.375 04/20/2023 AA+ Aaa 1,250,000.00 1,248,223.75 2.69 1,231,944.04 2.73 1.04 Issuer total 1,250,000.00 1,248,223.75 2.69 1,231,944.04 2.73 1.04 PT. SAN ASSESS DISTRICT888599LS4 PT. SAN ASSESS 5.250 09/02/2032 NR NR 1,159,300.00 1,159,300.00 2.50 1,159,300.00 2.57 8.03 Issuer total 1,159,300.00 1,159,300.00 2.50 1,159,300.00 2.57 8.03 Toyota Motor Credit Corp89236THA6 TOYOTA MOTOR CREDIT 1.350 08/25/2023 A+ A1 700,000.00 714,959.00 1.54 691,370.78 1.53 1.3889236THU2 TOYOTA MOTOR CREDIT 0.450 01/11/2024 A+ A1 480,000.00 479,342.40 1.03 463,571.09 1.03 1.76 Issuer total 1,180,000.00 1,194,301.40 2.57 1,154,941.87 2.56 1.53 14 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of March 31, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
JPMorgan Chase & Co46647PBB1 JPMORGAN CHASE & CO 3.207 04/01/2023 03/01/2023 A- A2 600,000.00 615,576.00 1.33 600,000.00 1.33 0.0046647PAP1 JPMORGAN CHASE & CO 3.559 04/23/2024 04/23/2023 A- A2 500,000.00 534,240.00 1.15 504,643.80 1.12 1.02 Issuer total 1,100,000.00 1,149,816.00 2.48 1,104,643.80 2.45 0.47 Caterpillar Financial Services Corp14912L5X5 CATERPILLAR FINANCIAL 3.750 11/24/2023 A A2 1,000,000.00 1,086,390.00 2.34 1,024,763.52 2.27 1.58 Issuer total 1,000,000.00 1,086,390.00 2.34 1,024,763.52 2.27 1.58 International Business Machines Corp459200HU8 IBM CORP 3.625% 3.625 02/12/2024 A- A3 1,000,000.00 1,086,900.00 2.34 1,018,083.35 2.26 1.80 Issuer total 1,000,000.00 1,086,900.00 2.34 1,018,083.35 2.26 1.80 US Bancorp91159HHV5 US BANCORP 3.375% 3.375 02/05/2024 01/05/2024 A+ A2 1,000,000.00 1,079,130.00 2.33 1,013,750.09 2.25 1.74 Issuer total 1,000,000.00 1,079,130.00 2.33 1,013,750.09 2.25 1.74 Bank of America Corp06051GHC6 BANK OF AMERICA CORP 3.004 12/20/2023 12/20/2022 A- A2 500,000.00 525,795.00 1.13 501,262.44 1.11 0.7106051GHF9 BANK OF AMERICA CORP 3.550 03/05/2024 03/05/2023 A- A2 500,000.00 535,525.00 1.15 502,854.64 1.12 0.91 Issuer total 1,000,000.00 1,061,320.00 2.29 1,004,117.08 2.23 0.81 American Honda Finance Corp02665WDH1 AMERICAN HONDA 1.950 05/10/2023 A- A3 1,000,000.00 1,031,510.00 2.22 995,292.14 2.21 1.08 Issuer total 1,000,000.00 1,031,510.00 2.22 995,292.14 2.21 1.08 John Deere Capital Corp24422EVN6 JOHN DEERE CAPITAL 0.450 01/17/2024 A A2 1,000,000.00 1,001,230.00 2.16 966,143.43 2.14 1.78 Issuer total 1,000,000.00 1,001,230.00 2.16 966,143.43 2.14 1.78 15 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of March 31, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
PNC Financial Services Group Inc/The693475AV7 PNC FINANCIAL 3.500 01/23/2024 12/24/2023 A- A3 900,000.00 957,939.00 2.06 912,689.81 2.03 1.70 Issuer total 900,000.00 957,939.00 2.06 912,689.81 2.03 1.70 Chevron Corp166764AH3 CHEVRON CORP 3.191% 3.191 06/24/2023 03/24/2023 AA- Aa2 700,000.00 718,781.00 1.55 707,590.00 1.57 1.08 Issuer total 700,000.00 718,781.00 1.55 707,590.00 1.57 1.08 PepsiCo Inc713448CM8 PEPSICO INC 3.6% 3.600 03/01/2024 12/01/2023 A+ A1 500,000.00 537,465.00 1.16 511,258.42 1.13 1.71 Issuer total 500,000.00 537,465.00 1.16 511,258.42 1.13 1.71 Pfizer Inc717081DM2 PFIZER INC 3.4% 3.400 05/15/2024 A+ A2 500,000.00 537,160.00 1.16 509,917.29 1.13 2.02 Issuer total 500,000.00 537,160.00 1.16 509,917.29 1.13 2.02 Citibank NA17325FAS7 CITIBANK NA 3.65% 3.650 01/23/2024 12/23/2023 A+ Aa3 500,000.00 541,470.00 1.17 508,798.71 1.13 1.70 Issuer total 500,000.00 541,470.00 1.17 508,798.71 1.13 1.70 3M Co88579YBB6 3M COMPANY 3.25% 3.250 02/14/2024 01/14/2024 A+ A1 500,000.00 541,935.00 1.17 506,538.48 1.12 1.77 Issuer total 500,000.00 541,935.00 1.17 506,538.48 1.12 1.77 Procter & Gamble Co/The742718EB1 PROCTER & GAMBLE 3.100 08/15/2023 AA- Aa3 500,000.00 520,430.00 1.12 505,325.90 1.12 1.34 Issuer total 500,000.00 520,430.00 1.12 505,325.90 1.12 1.34 16 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of March 31, 2022

SAN RAFAEL
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
Walmart Inc931142DH3 WALMART INC 2.55% 2.550 04/11/2023 01/11/2023 AA Aa2 500,000.00 509,155.00 1.10 502,995.05 1.12 0.90 Issuer total 500,000.00 509,155.00 1.10 502,995.05 1.12 0.90 Apple Inc037833AK6 APPLE INC 2.4% 2.400 05/03/2023 AA+ Aaa 500,000.00 506,880.00 1.09 502,699.15 1.12 1.06 Issuer total 500,000.00 506,880.00 1.09 502,699.15 1.12 1.06 Cash and Cash Equivalents
INVESTED CASH 0.000 34,607.41 34,607.41 0.00 34,607.41 0.08 0.00 Issuer total 34,607.41 34,607.41 0.00 34,607.41 0.08 0.00 Grand total 45,423,907.41 46,395,120.76 100.00 45,046,899.59 100.00 1.56 17 SECURITIES PURCHASED
For the period March 1, 2022 - March 31, 2022

SAN RAFAEL
Par value or
shares
Unit cost Accrued
interest
Trade date
Settle date
Coupon Maturity/
Call date
Principal
cost
Cusip Description / Broker
Government Agencies3130AJ7E3 03/10/2022 02/17/2023 1,200,000.00 100.14 (1,201,698.09 1.375 ) (1,100.00) 03/11/2022
FEDERAL HOME LOAN BANK 1.375%NATWEST MARKETS PLC
Total Government Agencies 1,200,000.00 (1,201,698.09) (1,100.00) Grand total Grand total 1,200,000.00 (1,201,698.09) (1,100.00) 18 SECURITIES SOLD AND MATURED
For the period March 1, 2022 - March 31, 2022

SAN RAFAEL
Historical cost Amortized cost
at sale or
maturity
Fair value at
sale or
maturity
Realized
gain
(loss)
Trade date Coupon Price
Settle date
Maturity/
Call date
Par value or
shares
Cusip Accrued
interest
sold
Description / Broker
Government Agencies313378WG2 03/11/2022 (1,000,000.00) 1,016,330.00 1,000,000.00 0.0 2.500 0 1,000,000.00 0.00 0.00 03/11/2022
FEDERAL HOME LN BKS CONS BD DTD2.5 DUE 03-11-2022
Total (Government Agencies) (1,000,000.00) 1,016,330.00 1,000,000.00 1,000,000.00 0.00 0.00 Grand total (1,000,000.00) 1,016,330.00 1,000,000.00 1,000,000.00 0.00 0.00 19 DETAIL OF RETURN AND INTEREST RECEIVED
For the period March 1, 2022 - March 31, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Cash
Cash and Cash Equivalents 0.00 0.00 0.00 0.62 0.62
Total Cash 0.00 0.00 0.00 0.62 0.62Corporate Bonds
88579YBB6 3M COMPANY 3.25% 14FEB2024 (CALLABLE 14JAN24) (1,194.73) 0.00 (7,874.69) 1,489.59 0.00 02665WDH1 AMERICAN HONDA FINANCE 1.95% 10MAY2023 (1,298.49) 0.00 (9,455.67) 1,787.50 0.00 037833AK6 APPLE INC 2.4% 03MAY2023 (157.92) 0.00 (3,519.51) 1,100.00 0.00 06051GHC6 BANK OF AMERICA CORP 3.004% 20DEC2023 (CALLABLE 20DEC22) (984.54) 0.00 (3,181.25) 1,376.83 0.00 06051GHF9 BANK OF AMERICA CORP 3.55% 05MAR2024 (CALLABLE 05MAR23) (1,123.02) 0.00 (5,065.38) 1,627.08 8,875.00 14912L5X5 CATERPILLAR FINANCIAL SE 3.75% 24NOV2023 (2,810.95) 0.00 (12,180.30) 3,437.50 0.00 166764AH3 CHEVRON CORP 3.191% 24JUN2023 (CALLABLE 24MAR23) (1,344.70) 0.00 (5,769.33) 2,047.56 0.00 17325FAS7 CITIBANK NA 3.65% 23JAN2024 (CALLABLE 23DEC23) (1,327.75) 0.00 (8,085.92) 1,672.91 0.00 459200HU8 IBM CORP 3.625% 12FEB2024 (2,607.00) 0.00 (18,659.69) 3,322.92 0.00 24422EVN6 JOHN DEERE CAPITAL CORP 0.45% 17JAN2024 (37.84) 0.00 (11,626.82) 412.50 0.00 46647PBB1 JPMORGAN CHASE & CO 3.207% 01APR2023 (CALLABLE 01APR22) (1,467.65) 0.00 (883.96) 1,763.85 0.00 46647PAP1 JPMORGAN CHASE & CO 3.559% 23APR2024 (CALLABLE 23APR23) (1,296.97) 0.00 (4,754.41) 1,631.21 0.00 713448CM8 PEPSICO INC 3.6% 01MAR2024 (CALLABLE 01DEC23) (1,275.77) 0.00 (5,653.18) 1,650.00 9,000.00 717081DM2 PFIZER INC 3.4% 15MAY2024 (1,169.78) 0.00 (7,713.04) 1,558.33 0.00 693475AV7 PNC FINANCIAL SERVICES 3.5% 23JAN2024 (CALLABLE 23DEC23) (1,530.91) 0.00 (13,755.50) 2,887.50 0.00 742718EB1 PROCTER & GAMBLE CO/THE 3.1% 15AUG2023 (1,016.41) 0.00 (6,173.42) 1,420.84 0.00 89236THU2 TOYOTA MOTOR CREDIT CORP 0.45% 11JAN2024 23.80 0.00 (5,052.20) 198.00 0.00 20 DETAIL OF RETURN AND INTEREST RECEIVED
For the period March 1, 2022 - March 31, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Corporate Bonds
89236THA6 TOYOTA MOTOR CREDIT CORP 1.35% 25AUG2023 (531.09) 0.00 (6,189.59) 866.25 0.00 91159HHV5 US BANCORP 3.375% 05FEB2024 (CALLABLE 05JAN24) (2,375.54) 0.00 (13,752.28) 3,093.75 0.00 931142DH3 WALMART INC 2.55% 11APR2023 (CALLABLE 11JAN23) (229.83) 0.00 (2,481.33) 1,168.75 0.00 Total Corporate Bonds (23,757.09) (151,827.47) 17,875.00 0.00 34,512.87Government Agencies 3136G46B4 FANNIE MAE 0.35% 26APR2024 (CALLABLE 26APR22) 6.92 0.00 (18,165.60) 385.00 0.00 3135G0V75 FANNIE MAE 1.75% 02JUL2024 (61.23) 0.00 (12,701.46) 1,203.12 0.00 3135G0T78 FANNIE MAE 2% 05OCT2022 (981.72) 0.00 (3,275.55) 2,291.66 0.00 3135G0V34 FANNIE MAE 2.5% 05FEB2024 (412.87) 0.00 (8,860.02) 1,375.00 0.00 3135G0U43 FANNIE MAE 2.875% 12SEP2023 (998.31) 0.00 (12,355.80) 2,635.42 14,375.00 3133EMWV0 FEDERAL FARM CREDIT BANK 0.35% 22APR2024 0.00 0.00 (12,850.63) 320.83 0.00 3133EMYR7 FEDERAL FARM CREDIT BANK 0.375% 06MAY2024 (CALLABLE 06MAY22) 0.00 0.00 (15,383.09) 343.75 0.00 313378WG2 FEDERAL HOME LN BKS CONS BD DTD 2.5 DUE 03-11-2022 (181.63) 0.00 (695.77) 902.78 12,500.00 3130AMQQ8 FEDERAL HOME LOAN BANK 0.35% 23APR2024 (CALLABLE 23JUN22) 0.00 0.00 (15,275.23) 320.84 0.00 3130AJ7E3 FEDERAL HOME LOAN BANK 1.375% 17FEB2023 (105.50) 0.00 (4,028.90) 916.67 0.00 3130A3KM5 FEDERAL HOME LOAN BANK 2.5% 09DEC2022 (514.29) 0.00 (3,762.33) 2,291.67 0.00 3137EAEQ8 FREDDIE MAC 0.375% 20APR2023 111.25 0.00 (6,776.56) 429.68 0.00 Total Government Agencies (3,137.38) (114,130.94) 26,875.00 0.00 13,416.42Government Bonds 91282CBA8 USA TREASURY 0.125% 15DEC2023 210.29 0.00 (14,812.50) 127.74 0.00 21 DETAIL OF RETURN AND INTEREST RECEIVED
For the period March 1, 2022 - March 31, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Government Bonds
912828ZX1 USA TREASURY 0.125% 30JUN2022 32.17 0.00 185.56 107.04 0.00 91282CCK5 USA TREASURY 0.125% 30JUN2023 414.50 0.00 (6,062.50) 85.64 0.00 91282CAN1 USA TREASURY 0.125% 30SEP2022 117.63 0.00 (1,074.22) 133.07 781.25 91282CCN9 USA TREASURY 0.125% 31JUL2023 558.21 0.00 (8,750.00) 107.04 0.00 91282CCC3 USA TREASURY 0.25% 15MAY2024 88.05 0.00 (16,406.25) 214.09 0.00 91282CAW1 USA TREASURY 0.25% 15NOV2023 (4.03) 0.00 (11,601.56) 214.09 0.00 91282CBV2 USA TREASURY 0.375% 15APR2024 (33.70) 0.00 (15,664.06) 319.37 0.00 912828ZD5 USA TREASURY 0.5% 15MAR2023 (22.10) 0.00 (4,570.31) 424.57 2,500.00 912828Z86 USA TREASURY 1.375% 15FEB2023 (1,027.44) 0.00 (5,761.72) 1,471.86 0.00 9128282D1 USA TREASURY 1.375% 31AUG2023 (802.43) 0.00 (13,037.11) 1,447.86 0.00 912828Z29 USA TREASURY 1.5% 15JAN2023 (930.55) 0.00 (3,984.38) 1,284.54 0.00 912828YV6 USA TREASURY 1.5% 30NOV2024 (602.34) 0.00 (15,832.04) 894.24 0.00 912828YM6 USA TREASURY 1.5% 31OCT2024 (445.32) 0.00 (21,601.56) 1,284.53 0.00 9128287C8 USA TREASURY 1.75% 15JUL2022 (1,676.74) 0.00 (1,757.80) 1,873.27 0.00 912828M80 USA TREASURY 2% 30NOV2022 (1,064.70) 0.00 (4,296.88) 2,129.12 0.00 912828U57 USA TREASURY 2.125% 30NOV2023 (239.24) 0.00 (8,785.16) 1,176.34 0.00 9128282Y5 USA TREASURY 2.125% 30SEP2024 (1,411.08) 0.00 (21,796.88) 1,809.75 10,625.00 912828D56 USA TREASURY 2.375% 15AUG2024 (1,224.89) 0.00 (21,445.31) 2,033.84 0.00 Total Government Bonds (8,063.71) (197,054.68) 13,906.25 0.00 17,138.00 22 DETAIL OF RETURN AND INTEREST RECEIVED
For the period March 1, 2022 - March 31, 2022

SAN RAFAEL
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Municipal/Provincial Bonds
888599LS4 PT. SAN ASSESS DISTRICT 5.25% 144A 02SEP2032 SANRAF$01 0.00 0.00 0.00 5,579.13 30,431.63 Total Municipal/Provincial Bonds 0.00 0.00 0.00 30,431.63 5,579.13Grand total (34,958.18) (463,013.09) 89,088.50 0.00 70,647.04 23 TRANSACTION REPORT
For the period March 1, 2022 - March 31, 2022

SAN RAFAEL
Maturity Par value or
shares
Trade date Cusip Sec type Description Transaction Principal Interest Transaction totalSettle date Realized
gain(loss)
03/01/2022 9,000.0003/01/2022
713448CM8 Corporate Bonds PEPSICO INC 3.6% 01MAR2024 0 Income 3/01/2024 500,000.00 0.00 9,000.00 0.00 03/02/2022 30,431.6303/02/2022
888599LS4 Municipal/Provincial Bonds PT. SAN ASSESS D Income ISTRICT 09/02/2032 1,159,300.00 0.00 30,431.63 0.00 03/05/2022 8,875.0003/05/2022
06051GHF9 Corporate Bonds BANK OF AMERICA CORP 3.55% 0 Income 3/05/2024 500,000.00 0.00 8,875.00 0.00 03/10/2022 (1,100.00)03/11/2022
3130AJ7E3 Government Agencies FEDERAL HOME LOAN BANK 0 Bought 2/17/2023 1,200,000.00 (1,201,698.09) (1,202,798.09) 0.00 03/11/2022 12,500.0003/11/2022
313378WG2 Government Agencies FEDERAL HOME LN BKS CON Income S 03/11/2022 1,000,000.00 0.00 12,500.00 0.00 03/11/2022 0.0003/11/2022
313378WG2 Government Agencies FEDERAL HOME LN BKS CON Capital Change S 03/11/2022 (1,000,000.00) 1,000,000.00 1,000,000.00 0.00 03/12/2022 14,375.0003/12/2022
3135G0U43 Government Agencies FANNIE MAE 2.875% 09/12/ Income 2023 1,000,000.00 0.00 14,375.00 0.00 03/15/2022 2,500.0003/15/2022
912828ZD5 Government Bonds USA TREASURY 0.5% 03/15/202 Income 3 1,000,000.00 0.00 2,500.00 0.00 03/31/2022 10,625.0003/31/2022
9128282Y5 Government Bonds USA TREASURY 2.125% 09/30/2 Income 024 1,000,000.00 0.00 10,625.00 0.00 03/31/2022 781.2503/31/2022
91282CAN1 Government Bonds USA TREASURY 0.125% 09/30/2 Income 022 1,250,000.00 0.00 781.25 0.00 03/31/2022 Income Cash and Cash Equivalents Cash 0.00 0.00 0.00 0.62 0.62 24 ADDITIONAL INFORMATION
As of March 31, 2022

SAN RAFAEL
Insight does not provide tax or legal advice to its clients and all investors are strongly urged to consult their tax and legal advisors regarding any potential strategy or investment.

Insight is a group of wholly owned subsidiaries of The Bank of New York Mellon Corporation. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference the Corporation as a whole or its various subsidiaries generally. Products and services may be provided under various brand names and in various countries by subsidiaries, affiliates and joint ventures of The Bank of New York Mellon Corporation where authorized and regulated as required within each jurisdiction. Unless you are notified to the contrary, the products and services mentioned are not insured by the FDIC (or by any governmental entity)and are not guaranteed by or obligations of The Bank of New York Mellon Corporation or any of its affiliates. The Bank of New York Corporation assumes no responsibility for the accuracy or completeness of the above data and disclaims all expressed or implied warranties in connection therewith.© 2022 Insight Investment. All rights reserved. 26 ____________________________________________________________________________________

FOR CITY CLERK ONLY
Council Meeting: _______________________
Disposition: ___________________________
Agenda Item No: 4.i
Meeting Date: June 21, 2022

SAN RAFAEL CITY COUNCIL AGENDA REPORT
Department: Fire
Prepared by: Kate Anderson, Hazard Mitigation
Project Manager
City Manager Approval: ______________
TOPIC: FEMA HAZARD MITIGATION AND PRE-DISASTER MITIGATION GRANT FUNDS SUBJECT: RESOLUTION AUTHORIZING DESIGNATED CITY EMPLOYEES TO EXECUTE AND

FILE ON BEHALF OF THE CITY OF SAN RAFAEL ALL ASSURANCES AND

AGREEMENTS REQUIRED TO ACCEPT AND MANAGE FUNDS OF ALL OPEN AND

FUTURE DISASTERS AND GRANTS UP TO THREE YEARS FROM DATE OF

APPROVAL
RECOMMENDATION:

Adopt a resolution authorizing the Administrative Services Director, Fire Chief, Deputy Director of Emergency Management, Director of Public Works, and City Manager each to execute all documents required to accept and obtain hazard mitigation and pre-disaster mitigation grant funding for a period of three years.

BACKGROUND:

The Disaster Mitigation Act (DMA) of 2000 (Public Law 106-390) requires local governments to develop and adopt pre-disaster mitigation plans. To satisfy grant requirements under the DMA, the State of California Governor’s Office of Emergency Services (Cal OES) requires that the City Council authorize, by adoption of a resolution, specified staff to act on behalf of the City for all actions related to the grant.

Based on staff responsibilities in grants and financial management involving homeland security, fire prevention, and law enforcement, three listed positions (Finance Director, Fire Chief, and Emergency Management Project Manager) were initially selected as the most appropriate to execute the required documents for and on behalf of the City.

On April 15, 2019, the City Council adopted a Resolution 14658 authorizing the Finance Director, Fire Chief, and Emergency Management Project Manager to execute all documents required to accept and obtain hazard mitigation and pre-disaster mitigation grant funding. This resolution was valid for three years.

On September 16, 2019, the City Council adopted Resolution No. 14724 adding the Director of Public Works to the Designated Applicants agents list on Cal OES Form 130. This resolution was valid for three years.

SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 2
ANALYSIS:

Since the September 16, 2019 City Council meeting, it has become necessary to add the City Manager to the Designated Applicants agents list on Cal OES Form 130. Due to inflation and wage increases industry-wide, the City requested and was awarded increased funding to complete the project. The grant award increase has resulted in the need for the City Manager’s signing authority for contracts. The updated designations will address title changes of the designated applicant agent list and validate the signature authority for three years from the date of the resolution.

FISCAL IMPACT:

There is no fiscal impact associated with this action.

OPTIONS:

The City Council has the following options to consider on this matter:

1. Adopt resolution

2. Adopt resolution with modifications

3. Do not adopt the resolution and provide direction to staff.

RECOMMENDED ACTION:

ATTACHMENTS:

1. Resolution

STATE OF CALIFORNIA
CALIFORNIA GOVERNOR’S OFFICE OF EMERGENCY SERVICES Cal OES ID No: ______________________ CAL OES 130 DESIGNATION OF SUBRECIPIENT’S AGENT RESOLUTION
Hazard Mitigation Grant Program and Pre-Disaster Mitigation Program BE IT RESOLVED BY THE OF THE (Governing Body) (Name of Applicant)

THAT , OR
(Title of Authorized Agent)
, OR
(Title of Authorized Agent)
(Title of Authorized Agent)
is hereby authorized to execute for and on behalf of the , a public entity (Name of Subrecipient)
established under the laws of the State of California, this application and to file it with the California Governor’s Office of Emergency Service. for the purpose of obtaining certain federal financial assistance under Public Law 93-288 as amended by the Robert T. Stafford Disaster Relief and Emergency Assistance Act of 1988, and/or state financial assistance under the California Disaster Assistance Act.

THAT the ________________________________________________, a public entity established under the laws of the State of California, (Name of Subrecipient)
hereby authorizes its agent(s) to provide to the California Governor’s Office of Emergency Service for all matters pertaining to such state disaster assistance the assurances and agreements required.

Please check the appropriate box below:

This is a universal resolution and is effective for all open and futures Disasters/Grants up to three (3) years following the date of approval below.

This is a Disaster/Grant specific resolution and is effective for only Disaster/Grant name/number(s) ________________________ Passed and approved this day of , 20
(Name and Title of Governing Body Representative)
(Name and Title of Governing Body Representative)
(Name and Title of Governing Body Representative)

CERTIFICATION
I, , duly appointed and of (Name) (Title)
, do hereby certify that the above is a true and correct copy of a (Name of Applicant)
Resolution passed and approved by the of the (Governing Body) (Name of Applicant) on the day of , 20 .
(Signature) (Title)
Cal OES 130 (Rev.03/278/17) Page 1

STATE OF CALIFORNIA

CALIFORNIA GOVERNORS OFFICE OF EMERGENCY SERVICE
CAL OES 130 - INSTRUCTIONS
Cal OES Form 130
Instructions
A new Designation of Applicant’s Agent Resolution is required if the previously submitted document is older than three (3) years from the last date of Board/Council approval.

When completing the Cal OES Form 130, Subrecipients should fill in the blanks on page 1. The blanks are to be filled in as follows:

Resolution Section:

Governing Body: This is the individual or group responsible for appointing and approving the Authorized Agents. Examples include: Board of Directors, City Council, Board of Supervisors, etc.

Name of Subrecipient: This is the official name of the non-profit, agency, city, county or special district that has applied for the grant.

Examples include: City of Sacramento; Sacramento County; or Los Angeles Unified School District.

Authorized Agent: These are the individuals that are authorized by the Governing Body to engage with the Federal Emergency Management Agency and the California Governor’s Office of Emergency Service regarding grants applied for by the subrecipient.

There are two ways of completing this section:

1. Titles Only: If the Governing Body so chooses, the titles of the Authorized Agents should be entered here, not their names. This allows the document to remain valid if an Authorized Agent leaves the position and is replaced by another individual. If “Titles Only” is the chosen method, this document must be accompanied by a cover letter naming the Authorized Agents by name and title. This cover letter can be completed by any authorized person within the agency (e.g.; City Clerk, the Authorized Agent, Secretary to the Director) and does not require the Governing Body’s signature.

2. Names and Titles: If the Governing Body so chooses, the names and titles of the Authorized Agents should be listed. A new Cal OES Form 130 will be required if any of the Authorized Agents are replaced, leave the position listed on the document or their title changes.

Governing Body Representative: These are the names and titles of the approving board members. Examples include: Chairman of the Board, Superintendent, etc. The names and titles cannot be one of the designated Authorized Agents.

Certification Section:

Name and Title: This is the individual that was in attendance and recorded the Resolution creation and approval.

Examples include: City Clerk, Secretary to the Board of Directors, County Clerk, etc. This person cannot be one of the designated Authorized Agents to eliminate “Self Certification.” Cal OES 130 (Rev.03/28/17 Page 2
____________________________________________________________________________________

FOR CITY CLERK ONLY
Council Meeting:

Disposition:

Agenda Item No: 4.j
Meeting Date: June 21, 2022

SAN RAFAEL CITY COUNCIL AGENDA REPORT
Department: Public Works
Prepared by: Bill Guerin,
Director of Public Works
City Manager Approval: __________
TOPIC: SECOND STREET/FOURTH STREET/MIRACLE MILE INTERSECTION

IMPROVEMENTS
SUBJECT: RESOLUTION APPROVING AND AUTHORIZING THE CITY MANAGER TO EXECUTE A PROFESSIONAL SERVICES AGREEMENT WITH CSW/STUBERSTROEH ENGINEERING GROUP INC. FOR ENGINEERING DESIGN SERVICES

ASSOCIATED WITH THE SECOND STREET/FOURTH STREET/MIRACLE MILE INTERSECTION IMPROVEMENTS IN AN AMOUNT NOT TO EXCEED $131,582 RECOMMENDATION: Staff recommends that the City Council adopt a resolution approving and authorizing the City Manager to execute a professional services agreement with CSW/StuberStroeh Engineering Group Inc. for engineering design services associated with the Second Street/Fourth Street/Miracle Mile Intersection Improvement project in an amount not to exceed $131,582.

BACKGROUND:

The Third Street Rehabilitation project is currently underway. There are roadway and pedestrian improvements, including but not limited to, street resurfacing, curb ramps, sidewalk, storm drain, and traffic signal upgrades. Third Street provides critical access between US 101 and communities in West Marin. Carrying 30,000 vehicles per day, Third Street is the backbone of downtown San Rafael serving businesses, restaurants, medical clinics, and banks. West of downtown, Third Street becomes residential.

The Third Street Rehabilitation project stops just east of the Second Street/Fourth Street/Miracle Mile intersection. Here, the streets meet at odd angles, resulting in speeding, long crossings for pedestrians and bicyclists, and confusion between drivers navigating the intersection. Just west of the intersection, there is a bicycle boulevard on West End/Greenfield Avenue connecting cyclists to the communities west of San Rafael. Just east of the intersection is a multi-use pathway currently under construction. Improving this intersection would close a critical gap in the bicycle network in this area of San Rafael. It would connect two regional bicycle routes as well as an important Safe Routes to School connection. Proposed improvements include creating a “T” intersection up so that Fourth Street meets Second Street at a right angle. This would also shorten the crossing distance for pedestrians.

As a part of the Third Street Rehabilitation Project, improvements at this intersection were discussed at public meetings. This intersection project exceeded the project budget for the Third SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 2
Street Rehabilitation project, so city staff decided to separate the Second Street/Fourth Street project design to seek additional funding sources.

ANALYSIS:

CSW is the civil design consultant for the Third Street Rehabilitation project and has created a conceptual plan for the Second Street/Fourth Street project. Kimley-Horn Inc., a subconsultant to CSW, is the traffic signal design consultant for the Third Street Safety project and the design reviewer for the Third Street Rehabilitation project. Since both design consultants have already done preliminary assessments of this intersection and can build on previous efforts in this area to complete the design, city staff requested a design proposal from CSW for the civil and traffic signal design of this project. Kimley-Horn will provide the traffic signal design as a subconsultant.

In May 2022, the City received a proposal from CSW for the design for this intersection.

PUBLIC OUTREACH: Public Works has engaged the community and key stakeholders over the last four years for Third Street Rehabilitation. The redesign of Second Street/Fourth Street was discussed at many of the meetings, as summarized in the February 7, 2022 City Council staff report.

FISCAL IMPACT:

The consultant’s fees of $131,582 are being funded by Gas Tax (206) funds. Upon completion of the design, a construction cost estimate will be produced.

OPTIONS: The City Council has the following options to consider relating to this matter:

1. Adopt a resolution authorizing the City Manager to execute a professional services agreement with CSW.

2. Do not accept the proposal from CSW and provide further direction to staff.

RECOMMENDED ACTION: Adopt a resolution approving and authorizing the City Manager to execute a professional services agreement with CSW/Stuber-Stroeh Engineering Group Inc. (CSW) for engineering design services associated with the Second Street/Fourth Street/Miracle Mile Intersection Improvement project in an amount not to exceed $131,582.

ATTACHMENT:

1. Resolution

2. Professional Services Agreement with Exhibit A (Proposal) RESOLUTION NO.

A RESOLUTION OF THE SAN RAFAEL CITY COUNCIL APPROVING AND AUTHORIZING

THE CITY MANAGER TO EXECUTE A PROFESSIONAL SERVICES AGREEMENT WITH CSW/STUBER-STROEH ENGINEERING GROUP INC. FOR ENGINEERING DESIGN

SERVICES ASSOCIATED WITH THE SECOND STREET/FOURTH STREET/MIRACLE MILE INTERSECTION IMPROVEMENTS IN AN AMOUNT NOT TO EXCEED $131,582 WHEREAS, the City desires to implement safety improvements and improved bicycle and pedestrian connections at the intersection of Second Street/Fourth Street/Miracle Mile; and WHEREAS, the City has adequate funds in Gas Tax (206); and WHEREAS, the City requires outside professional assistance to design signals, curb ramps, and bicycle facilities for the aforementioned project; and WHEREAS, staff has reviewed the proposal and identified CSW/Stuber-Stroeh Engineering Group, Inc. to be a qualified firm; and
WHEREAS, CSW/Stuber-Stroeh Engineering Group, Inc.’s proposal in the amount of $131,582 was found to be complete and within industry standards.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN RAFAEL RESOLVES as follows:

The City Council hereby approves and authorizes the City Manager to execute a Professional Services Agreement with CSW/Stuber-Stroeh Engineering Group, Inc. for engineering design services associated with the Second Street/Fourth Street/Miracle Mile Improvements in the amount not to exceed $131,582, in the form attached to the Staff Report to the City Council for this matter, subject to final approval as to form by the City Attorney.

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

LINDSAY LARA, City Clerk
1 AGREEMENT FOR PROFESSIONAL SERVICES

FOR IMPROVEMENTS TO THE SECOND AND FOURTH STREET INTERSECTION This Agreement is made and entered into this _____ day of __________________, 20___, by and between the CITY OF SAN RAFAEL (hereinafter "CITY"), and CSW/STUBER-STROEH ENGINEERING GROUP INC., a California corporation (hereinafter "CONSULTANT").

RECITALS
WHEREAS, the CITY has determined that professional design services are required in connection with the Second Street and Fourth Street Intersection project; and WHEREAS, the CONSULTANT has agreed to render such services.

AGREEMENT
NOW, THEREFORE, the parties hereby agree as follows:

1. PROJECT COORDINATION.

A. CITY’S Project Manager. April Miller is hereby designated the PROJECT MANAGER for the CITY and said PROJECT MANAGER shall supervise all aspects of the progress and execution of this Agreement.

B. CONSULTANT’S Project Director. CONSULTANT shall assign a single PROJECT DIRECTOR to have overall responsibility for the progress and execution of this Agreement for CONSULTANT. Robert Stevens is hereby designated as the PROJECT DIRECTOR for CONSULTANT. Should circumstances or conditions subsequent to the execution of this Agreement require a substitute PROJECT DIRECTOR, for any reason, the CONSULTANT shall notify the CITY within ten (10) business days of the substitution.

2. DUTIES OF CONSULTANT.

CONSULTANT shall perform the duties and/or provide services as outlined in CONSULTANT’s proposal, dated May 31, 2022, marked as Exhibit A, attached hereto and incorporated herein.

3. DUTIES OF CITY.

CITY shall cooperate with CONSULTANT in performance of its duties under this Agreement and shall pay the compensation as provided in Paragraph 4.

Revised 1/29/2020

4. COMPENSATION.

For the full performance of the services described herein by CONSULTANT, CITY shall pay CONSULTANT on time and materials basis for services rendered in accordance with the rates described in Exhibit A, for a total amount not-to-exceed of $131,582.

Payment will be made monthly upon receipt by PROJECT MANAGER of itemized invoices submitted by CONSULTANT.

5. TERM OF AGREEMENT.

The term of this Agreement shall be for one (1) year(s) commencing upon date of execution of this Agreement. Upon mutual agreement of the parties, and subject to the approval of the City Manager the term of this Agreement may be extended for an additional period of up to one (1) year(s).

6. TERMINATION.

A. Discretionary. Either party may terminate this Agreement without cause upon thirty (30) days written notice mailed or personally delivered to the other party.

C. Effect of Termination. Upon receipt of notice of termination, neither party shall incur additional obligations under any provision of this Agreement without the prior written consent of the other.

7. OWNERSHIP OF DOCUMENTS.

8. INSPECTION AND AUDIT.

Revised 1/29/2020

9. ASSIGNABILITY.

10. INSURANCE.

A. Scope of Coverage. During the term of this Agreement, CONSULTANT shall maintain, at no expense to CITY, the following insurance policies:

2. An automobile liability (owned, non-owned, and hired vehicles) insurance policy in the minimum amount of one million dollars ($1,000,000) per occurrence.

Where CONSULTANT is a professional not required to have a professional license, CITY reserves the right to require CONSULTANT to provide professional liability insurance pursuant to this section.

4. If it employs any person, CONSULTANT shall maintain workers’ compensation insurance, as required by the State of California, with statutory limits, and employer’s liability insurance with limits of no less than one million dollars ($1,000,000) per accident for bodily injury or disease. CONSULTANT’s workers’ compensation insurance shall be specifically endorsed to waive any right of subrogation against CITY.

B. Other Insurance Requirements. The insurance coverage required of the CONSULTANT in subparagraph A of this section above shall also meet the following requirements:

1. Except for professional liability insurance or workers’ compensation insurance, the insurance policies shall be specifically endorsed to include the CITY, its officers, agents, employees, and volunteers, as additional insureds (for both ongoing and completed operations) under the policies.

3. Except for professional liability insurance or workers’ compensation insurance, the insurance policies shall include, in their text or by endorsement, coverage for contractual liability and personal injury.

5. If the insurance is written on a Claims Made Form, then, following termination of this Agreement, said insurance coverage shall survive for a period of not less than five years.

6. The insurance policies shall provide for a retroactive date of placement coinciding with the effective date of this Agreement.

8. It shall be a requirement under this Agreement that any available insurance proceeds broader than or in excess of the specified minimum insurance coverage requirements and/or limits shall be available to CITY or any other additional insured party. Furthermore, the requirements for coverage and limits shall be: (1) the minimum coverage and limits specified in this Agreement; or (2) the broader coverage and maximum limits of coverage of any insurance policy or proceeds available to the named insured; whichever is greater. No representation is made that the minimum insurance requirements of this Agreement are sufficient to cover the obligations of the CONSULTANT under this Agreement.

D. Proof of Insurance. CONSULTANT shall provide to the PROJECT MANAGER or CITY’S City Attorney all of the following: (1) Certificates of Insurance evidencing the insurance coverage required in this Agreement; (2) a copy of the policy declaration page and/or endorsement Revised 1/29/2020
page listing all policy endorsements for the commercial general liability policy, and (3) excerpts of policy language or specific endorsements evidencing the other insurance requirements set forth in this Agreement. CITY reserves the right to obtain a full certified copy of any insurance policy and endorsements from CONSULTANT. Failure to exercise this right shall not constitute a waiver of the right to exercise it later. The insurance shall be approved as to form and sufficiency by PROJECT MANAGER and the City Attorney.

11. INDEMNIFICATION.

A. Except as otherwise provided in subparagraph B of this section, CONSULTANT shall, to the fullest extent permitted by law, indemnify, release, defend with counsel approved by CITY, and hold harmless CITY, its officers, agents, employees and volunteers (collectively, the “City Indemnitees”), from and against any claim, demand, suit, judgment, loss, liability or expense of any kind, including but not limited to attorney's fees, expert fees and all other costs and fees of litigation, (collectively “CLAIMS”), arising out of CONSULTANT’S performance of its obligations or conduct of its operations under this Agreement. The CONSULTANT's obligations apply regardless of whether or not a liability is caused or contributed to by the active or passive negligence of the City Indemnitees. However, to the extent that liability is caused by the active negligence or willful misconduct of the City Indemnitees, the CONSULTANT's indemnification obligation shall be reduced in proportion to the City Indemnitees’ share of liability for the active negligence or willful misconduct. In addition, the acceptance or approval of the CONSULTANT’s work or work product by the CITY or any of its directors, officers or employees shall not relieve or reduce the CONSULTANT’s indemnification obligations. In the event the City Indemnitees are made a party to any action, lawsuit, or other adversarial proceeding arising from CONSULTANT’S performance of or operations under this Agreement, CONSULTANT shall provide a defense to the City Indemnitees or at CITY’S option reimburse the City Indemnitees their costs of defense, including reasonable attorneys’ fees, incurred in defense of such claims.

B. Where the services to be provided by CONSULTANT under this Agreement are design professional services to be performed by a design professional as that term is defined under Civil Code Section 2782.8, then, to the extent permitted by law including without limitation, Civil Code sections 2782, 2782.6 and 2782.8, CONSULTANT shall indemnify and hold harmless the CITY and its officers, officials, and employees (collectively City Indemnitees) from and against damages, liabilities or costs (including incidental damages, Court costs, reasonable attorney’s fees as may be determined by the Court, litigation expenses and fees of expert witnesses incurred in connection therewith and costs of investigation) to the extent they are caused by the negligence, recklessness, or willful misconduct of CONSULTANT, or any subconsultants, or subcontractor or anyone directly or indirectly employed by them, or anyone for whom they are legally liable (collectively Liabilities). Such obligation to hold harmless and indemnify any indemnity shall not apply to the extent that such Liabilities are caused in part by the negligence or willful misconduct of such City Indemnitee.

12. NONDISCRIMINATION.

13. COMPLIANCE WITH ALL LAWS.

14. NO THIRD PARTY BENEFICIARIES.

15. NOTICES.

TO CITY’s Project Manager: April Miller
City of San Rafael
Department of Public Works
111 Morphew Street
San Rafael, CA 94901
TO CONSULTANT’s Project Director: Robert Stephens
CSW/Stuber-Stroeh Engineering Group Inc.
45 Leveroni Court
Novato, CA 94949

16. INDEPENDENT CONTRACTOR.

For the purposes, and for the duration, of this Agreement, CONSULTANT, its officers, Revised 1/29/2020
agents and employees shall act in the capacity of an Independent Contractor, and not as employees of the CITY. CONSULTANT and CITY expressly intend and agree that the status of CONSULTANT, its officers, agents and employees be that of an Independent Contractor and not that of an employee of CITY.

17. ENTIRE AGREEMENT -- AMENDMENTS.

B. This written Agreement shall supersede any and all prior agreements, oral or written, regarding the subject matter between the CONSULTANT and the CITY.

C. No other agreement, promise or statement, written or oral, relating to the subject matter of this Agreement, shall be valid or binding, except by way of a written amendment to this Agreement.

D. The terms and conditions of this Agreement shall not be altered or modified except by a written amendment to this Agreement signed by the CONSULTANT and the CITY.

18. SET-OFF AGAINST DEBTS.

19. WAIVERS.

20. COSTS AND ATTORNEY'S FEES.

The prevailing party in any action brought to enforce the terms and conditions of this Revised 1/29/2020
Agreement, or arising out of the performance of this Agreement, may recover its reasonable costs (including claims administration) and attorney's fees expended in connection with such action.

21. CITY BUSINESS LICENSE / OTHER TAXES.

CONSULTANT shall obtain and maintain during the duration of this Agreement, a CITY business license as required by the San Rafael Municipal Code, and CONSULTANT shall pay any and all state and federal taxes and any other applicable taxes. CITY shall not be required to pay for any work performed under this Agreement, until CONSULTANT has provided CITY with a completed Internal Revenue Service Form W-9 (Request for Taxpayer Identification Number and Certification).

22. SURVIVAL OF TERMS.

23. APPLICABLE LAW.

The laws of the State of California shall govern this Agreement.

24. COUNTERPARTS AND ELECTRONIC SIGNATURE.

This Agreement may be executed by electronic signature and in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one document.

Counterpart signature pages may be delivered by telecopier, email or other means of electronic transmission.

Revised 1/29/2020
IN WITNESS WHEREOF, the parties have executed this Agreement as of the day, month and year first above written.

Please find attached our fee proposal including scope of work, schedule, and labor assessment to complete the final design for the Second and Fourth Street Intersection. If I can provide any additional information, please contact Robert at 415.533.1864 or [email protected].

Sincerely,
Robert Stevens, PE, TE
Project Manager
Exhibit A
CSW ST 2

SECOND AND FOURTH STREET
During the development of the Third Street improvement project, the cycle track connection west of West Street became an important topic within the community. The existing intersection of the Fourth and Second Streets is complicated due to its irregular configuration creating conflicts for bicyclists and pedestrians navigating the area.

Working with the City and stakeholders, our team developed a preliminary plan as illustrated in the attached exhibit. This plan will need to be refined and further developed with input from local businesses as well as stakeholders to develop a final design for the intersection.

Our team has prepared the following scope of work to support the design effort.

SCOPE OF WORK
TASK 1: PRELIMINARY ENGINEERING
Objective: In this initial phase, our team will complete several technical studies as well as focused outreach to stakeholders to refine the concept as well as compile an environmental document.

1.1 Project Kickoff. Our team will meet with City staff to review the project goals and an approach to coordinating with stakeholders.

1.2 Existing Conditions Mapping. Our team has general topography with the project area, but will complete a detailed survey to establish the following:
i. Property Boundary and Record Monuments: We will research City and County records to plot the public right of way based upon record information. We will also identify all record survey points and monuments within the intersection.
ii. Field Survey: In areas to receive major improvements such as curb extensions and areas obscured by tree canopy, our team will collect topography including elevations and surface features using traditional survey methods.
iii. Utility Survey: We will research as-built utilities within the area. Our survey crew will the location of all surface utility appurtenances as well as inverts of storm and sewer systems. We will retain a utility locating firm to complete a ground penetrating radar study of the intersection.
iv. Prepare Base Map: CSW|ST2 will develop a detailed base map using data collected by our effort.

1.3 Signal Coordination. Our team will coordinate with Kimely Horn to develop a design for the traffic signal system. This will include coordinating the locations of the signal poles, striping, and related appurtenances. We will incorporate the KH special provisions into the complete specifications document.

1.4 Design Refinement (30%). Based upon the data collected, our team will refine the concepts established including the following elements:

A. Intersection layout and grading
B. Striping and Signage Plan
CSW ST 2

SECOND AND FOURTH STREET
C. Pavement rehabilitation plans
D. Drainage plan
E. Estimate of construction cost

1.5 Outreach. Our team will follow a similar outreach process to confirm the design concept using the following services of meetings:

A. City Services. We will support staff in reviewing proposed roadway modifications such as bulb-outs with representatives from emergency services and public works.

B. Chamber Workshop. Our team will conduct a meeting with corridor stakeholders, which could include the Chamber of Commerce, key development interests, and/ or local business leaders.

C. BPAC. Our team will present the documents to the City’s BPAC for review and comment.

D. Public Utilities. We will coordinate with PGE, Comcast, and ATT for undergrounding of overhead lines as well as MMWD for water line modifications.

E. Web Materials and News Releases. We will provide maps, graphics, and narratives to the City for use on their web page to inform the community of the project’s progress.

1.6 CEQA Categorical Exemption. Section 21084 of the Public Resources Code (PRC) provides guidelines for projects that have been determined to not have a significant effect on the environment and are therefore determined to be exempt from the provisions of CEQA. The proposed project would likely fall into the first category (Class I) of categorically exempt projects as described in Section 15301, Existing Facilities. We will document the determination for the exempt status in a Notice of Exemption (NOE) accompanied by a supporting memorandum.

1.7 Contract Management. CSW|ST2 will be responsible for overall management of our design team including the following:

A. Project Management: We will manage the design team as well as track progress, schedule, and budget.

B. Quality Control/ Assurance: An independent member of our team will perform an independent quality control review of the team’s documents prior to submittal C. Meetings: In addition to the outreach meetings, the team will attend two (2) coordination meetings with City staff.

TASK 2: FINAL PLANS
Objective: With completion of the environmental phase, our team will prepare construction drawings for use in bidding for the western segment of the corridor.

2.1 Prepare 65% Documents The team will prepare the following documents:

A. Plans
i. Title and Key Map -
Deliverables
• 30% Documents in Acrobat format
• CEQA Categorical Exemption
• Meeting agendas, presentations, and minutes
CSW ST 2

SECOND AND FOURTH STREET
ii. Public Utility Relocation Plan
iii. Construction Phasing Plan
iv. Demolition Plan
v. Cross Sections
vi. Street Layout and Grading Plan
vii. Paving Plans
viii. Storm Drain Plan and Profile
ix. Striping Plan
x. Hardscape Details
xi. Street Lighting and Conductor Plans
xii. Joint Trench Plan and Sections
xiii. Construction Details
B. Specifications, bid schedule, and cost estimate

2.2 Prepare 95% Documents. Based upon comments received from City staff, we will update the documents prepared in Task 4.1 at the pre final status.

2.3 Final Submittal. After presentation of the 95% documents to the City Council, we will compile final documents for use in bidding.

2.4 Outreach. Our team will continue our outreach process during the final design including hosting the following meetings:

A. Public Utilities. Our team will continue the coordination with public utilities affected by the project.

B. City Council. We will support staff in presenting the project to City Council authorizing the project for public advertisement.

C. Web Materials and News Releases. We will continue to update documents for the City’s use.

2.5 Contract Management. CSW|ST2 will complete contract management services as defined in Task 1.6. In this task, we anticipate up to two (2) meetings with the City.

ASSUMPTIONS
In preparing our scope of work, we have made the following assumptions.

1. The project will generally follow the schedule as detailed in our scope of services.

2. No additional traffic data collection or analysis is required.

3. Our team’s services are limited to those expressly set forth above. We will have no other obligations or responsibilities for the project except as agreed to in writing, or as provided in this agreement.

Our services are provided consistent with, and limited to, the standard of care applicable to such services. We will provide our services consistent with the professional skill and care ordinarily provided by consultants practicing in the same or similar locality under the same or similar circumstances.

Deliverables
• 65% and 95% documents in Adobe Acrobat format
• Final plans in hardcopy, Acrobat, and AutoCAD format
• Meeting agendas, presentations, and minutes
CSW ST 2

SECOND AND FOURTH STREET

4. This project will not require acquisition of right of way.

5. The project will not include landscape design services.

CSW ST 2

FOURTH STREET INTERSECTION

CITY OF SAN RAFAEL
•
csw ST 2
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Graphic Scale (in feet)
1 inch = 40 ft.

ID Task Name Duration Start Finish
1 Second and Fourth Street 99 days Tue 6/14/22 Fri 10/28/22 2 Task 1 ‐ Preliminary Engineering 65 days Tue 6/14/22 Mon 9/12/223 Kickoff Meeting 0 days Tue 6/14/22 Tue 6/14/224 Existing Conditions Mapping 15 days Tue 6/14/22 Mon 7/4/225 Traffic Model 15 days Tue 6/14/22 Mon 7/4/226 30% Documents 20 days Tue 7/5/22 Mon 8/1/227 Document Prepareation 15 days Tue 7/5/22 Mon 7/25/228 Review 5 days Tue 7/26/22 Mon 8/1/229 Review Meeting 0 days Mon 8/1/22 Mon 8/1/22 10 Outreach 25 days Mon 6/27/22 Mon 8/1/2211 City Services 0 days Mon 7/4/22 Mon 7/4/2212 Chamber Worksop 0 days Mon 7/18/22 Mon 7/18/2213 Public Utilites 0 days Mon 6/27/22 Mon 6/27/2214 BPAC 0 days Mon 8/1/22 Mon 8/1/2215 CEQA Exemption 30 days Tue 8/2/22 Mon 9/12/2216 Task 2 ‐ Final Plans 64 days Tue 8/2/22 Fri 10/28/2217 65% Documents 30 days Tue 8/2/22 Mon 9/12/2218 Prepare PS&E 20 days Tue 8/2/22 Mon 8/29/2219 Review 10 days Tue 8/30/22 Mon 9/12/2220 Review Meeting 0 days Mon 9/12/22 Mon 9/12/2221 95% Documents 25 days Tue 9/13/22 Mon 10/17/2222 Prepare PS&E 15 days Tue 9/13/22 Mon 10/3/2223 Review 10 days Tue 10/4/22 Mon 10/17/2224 Review Meeting 0 days Mon 10/17/22 Mon 10/17/2225 Prepare Final Documents 5 days Tue 10/18/22 Mon 10/24/2226 Outreach 29 days Mon 9/19/22 Fri 10/28/2227 Public Utilites 0 days Mon 9/19/22 Mon 9/19/2228 City Council 0 days Fri 10/28/22 Fri 10/28/2229 Documents Ready for Bid 0 days Mon 10/24/22 Mon 10/24/22 6/14
8/1
7/4
7/18
6/27
8/1
9/12
10/17
9/19
10/28
10/24
Jun Jul Aug Sep Oct Nov
TaskSplitMilestoneSummary
Project SummaryExternal TasksExternal MilestoneInactive Task Inactive MilestoneInactive SummaryManual TaskDuration‐only Manual Summary RollupManual SummaryStart‐onlyFinish‐only DeadlineProgressManual Progress

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San Rafael City CouncilJune 21, 2022

San Rafael City Council
June 21, 2022