Agenda packet, first session — Santa Barbara City Council, August 27, 2024

CITY OF SANTA BARBARA

CITY COUNCIL
Randy Rowse
Mayor
Kelly McAdoo
City Administrator
Mike Jordan
Mayor Pro Tempore
Mike Jordan
Ordinance Committee Chair
Sarah J. Knecht
City Attorney
Alejandra Gutierrez
Finance Committee Chair
Eric Friedman
Oscar Gutierrez
Meagan Harmon
Kristen W. Sneddon
City Hall
735 Anacapa Street
http://www.SantaBarbaraCA.gov
AUGUST 27, 2024, 2:00 PM
AGENDA
IN-PERSON PUBLIC COMMENT: At the beginning of each meeting of the City Council, Finance Committee, or Ordinance Committee, any member of the public may address the City Council concerning any item not on the Council's agenda. Any person wishing to make such address should first complete and deliver a "Request to Speak" form prior to the time that public comment is taken up by the City Council. Each speaker will be given a total of 3 minutes to address the Council. Pooling of time is not allowed during general public comment. The time allotted for general public comment at the beginning of the 2:00 p.m. session is 30 minutes.

Any member of the public who did not speak during the 2:00 p.m. session but who submitted a request to do so during the 2:00 p.m. 30 minute session may do so at the end of the meeting when the additional “Public Comment (If Necessary)” is announced. The City Council, upon majority vote, may decline to hear a speaker on the grounds that the subject matter is beyond their jurisdiction.

REMOTE PUBLIC COMMENT: Members of the public wishing to speak must “raise their hand” in the Zoom platform by selecting the virtual hand icon when their item is called. The keyboard shortcut for this is Alt+Y for Windows and Option+Y for Macs. City staff will activate the speaker’s microphone when the speaker’s name is called. The speaker will then need to unmute themselves. The keyboard shortcut for this is Alt+M for Windows or Command-Shift-A for Macs.

HOW TO REMOTELY OBSERVE AND/OR SPEAK LIVE AT A MEETING
• Web: https://santabarbaraca-gov.zoom.us/webinar/register/WN_JJS2kazqRyu2i83tshCkPw (Participation via Zoom)
• Telephone: Dial 1-669-900-6833, Enter Webinar ID: 894 2384 2846 (press *9 to raise/lower hand; press *6 to mute/unmute) • Online Streaming: Council meetings are streamed live at www.SantaBarbaraCA.gov/CAP • TV: Each regular City Council meeting is broadcast live in English and Spanish on City TV Channel 18 and rebroadcast in English on Wednesdays and Thursdays at 7:00 p.m. and Saturdays at 8:00 a.m., and in Spanish on Sundays at 3:00 p.m.

Each televised Council meeting is closed captioned for the hearing impaired. Check the City TV program guide at www.santabarbaraca.gov/citytv for rebroadcasts of Finance and Ordinance Committee meetings.

WRITTEN PUBLIC COMMENT: Public comments may also be submitted via email to [email protected] prior to the beginning of the Council Meeting. All public comments submitted via email will be provided to City Council and will become part of the public record.
(CONTINUED ON NEXT PAGE)
ORDER OF BUSINESS: Regular meetings of the Finance Committee and the Ordinance Committee begin at 12:00 p.m. The regular City Council meeting begins at 2:00 p.m. in the Council Chambers at City Hall.

REPORTS: Copies of the reports relating to agenda items are available for review at http://www.SantaBarbaraCA.gov/CAP.In accordance with state law requirements, this agenda generally contains only a brief general description of each item of business to be transacted or discussed at the meeting. Should you wish more detailed information regarding any particular agenda item, you are encouraged to obtain a copy of the Council Agenda Report (a "CAR") online at the City's website (http://www.SantaBarbaraCA.gov/CAP). Materials related to an item on this agenda submitted to the City Council after distribution of the agenda packet are posted to the City’s website as soon as reasonably feasible.

CONSENT CALENDAR: The Consent Calendar is comprised of items that will not usually require discussion by the City Council. A Consent Calendar item is open for discussion by the City Council upon request of a Councilmember, City staff, or member of the public. Items on the Consent Calendar may be approved by a single motion. Should you wish to comment on an item listed on the Consent Agenda, after turning in your "Request to Speak" form, you should come forward to speak or raise your hand in Zoom at the time the Council considers the Consent Calendar.

LANGUAGE TRANSLATION AND INTERPRETATION: The City of Santa Barbara offers live Spanish translation and interpretation for City Council Meetings via the Wordly platform. Follow the directions below to access the service. • Go to: https://attend.wordly.ai/join/QQBV-6746
o Ensure the Session ID QQBV-6746 is displayed.
o Select “Spanish” and click on the “Attend” button.
o You can now read the captions on your device and/or listen to the translation of the City Council meeting. o Click the speaker button to hear a text-to-speech version of the translated dialogue. • If you have any questions or concerns, please contact City TV at 805-564-5311.

SPANISH INTERPRETATION: If you need interpretation of your communications to Council from Spanish into English, please contact the City Clerk’s Office at 564-5309 or by email at [email protected]. If possible, notification of at least 48 hours will usually enable the City to make arrangements.

INTERPRETACIÓN EN ESPAÑOL: Si necesita una interpretación del español al inglés, para sus comunicaciones al Consejo, comuníquese con la Oficina del Secretario Municipal al 564-5309, o por correo electrónico a [email protected]. Si es posible, la notificación de al menos 48 horas generalmente permitirá a la Ciudad hacer los arreglos.

AMERICANS WITH DISABILITIES ACT: If you need auxiliary aids or services or staff assistance to attend or participate in this meeting, please contact the City Administrator's Office at 564-5305 or by email at [email protected]. If possible, notification at least 48 hours prior to the meeting will usually enable the City to make reasonable arrangements. For those who need accessibility accommodation in using the “raise hand” function and/or registering to participate in the Zoom session, please contact the Clerk’s office by 5:00 p.m. the day before the meeting for assistance. Additionally, a speaker may email [email protected] by 5:00 p.m. the day before a meeting, stating which item they wish to speak on. Specialized services, such as sign language interpretation or documents in Braille, may require additional lead time to arrange. 08/27/2024 Santa Barbara City Council Final Agenda Page 1 AUGUST 27, 2024 AGENDA
REGULAR CITY COUNCIL MEETING - 2:00 P.M.

CALL TO ORDER

PLEDGE OF ALLEGIANCE

ROLL CALL

CHANGES TO THE AGENDA

CONSENT CALENDAR

1. Subject: Affordability Covenant Amendment for the Village Apartments Property Located At 518–524 West Canon Perdido Street [Ordinance Adoption] (660.04)
Recommendation: That Council adopt, by reading of title only, an Ordinance of the Council of the City of Santa Barbara Approving a Second Amendment to Affordability Control Covenant Imposed on Real Property with The Turner Foundation – Since 1958, for Property Located at 518–524 West Canon Perdido Street, and Authorizing the Community Development Director to Execute Such Amendment.

2. Subject: License Agreement with Coast Living, LLC [Resolution; Agreement] (330.08)
Recommendation: That Council:

A. Authorize the Parks and Recreation Director to execute a four-month license agreement with Coast Living, LLC to operate a rental concession at East Beach; and
B. Adopt, by reading of title only, a Resolution of the Council of the City of Santa Barbara Amending Resolution No. 24-066, Adopting the Budget for Fiscal Year 2025, to Increase Revenue Appropriations by $14,115 in the Parks and Recreation Department Fiscal Year 2025 General Fund for the East Beach Rental Concession License Agreement.

3. Subject: July 2024 Investment Report (260.02)
Recommendation: That Council accept the July 2024 Investment Report. 08/27/2024 Santa Barbara City Council Final Agenda Page 2

4. Subject: Professional Services Agreement Between the Library and Family Service Agency of Santa Barbara for Community Support Services and Outreach [Agreement] (570.04)
Recommendation: That Council authorize the Library Director to execute a City Professional Services Agreement in the amount of $137,500 with Family Service Agency of Santa Barbara to provide a Community Support Specialist contracted position that would work in collaboration with Library staff through July 30, 2025.

5. Subject: Skofield Park Resident Caretaker [Agreement] (570.05) Recommendation: That Council authorize the Parks and Recreation Director to execute a Caretaker Rental Agreement for Skofield Park with Todd Newell, commencing September 1, 2024, through August 31, 2025.

6. Subject: Vic Trace Radio Tower FEMA Replacement [Agreement] (170.04) Recommendation: That Council authorize the Information Technology Director to execute a sole source Purchase Order to Tower Systems in the amount of $279,059 for the replacement of the Vic Trace Radio Tower.

7. Subject: Recruitment for City Advisory Groups (140.02) Recommendation:

A. The City Clerk’s Office will accept applications through Wednesday, September 25, 2024, at 5:00 p.m. to fill scheduled vacancies on various City Advisory Groups and the unscheduled vacancies resulting from resignations received in the City Clerk’s Office through Monday, September 9, 2024, at 5:00 p.m.;
B. The City Council will conduct in-person interviews of applicants for vacancies on various City Advisory Groups on Tuesday, October 15, 2024, at 6:00 p.m. (Estimated Time), Tuesday, October 22, 2024, at 4:00 p.m. (Estimated Time), and Tuesday, October 29, 2024, at 4:00 p.m. (Estimated Time); and
C. The City Council will make appointments to fill the vacancies on various City Advisory Groups on Tuesday, November 19, 2024.

GENERAL PUBLIC COMMENT

PULLED CONSENT ITEMS

COUNCILMEMBER COMMITTEE ASSIGNMENT REPORTS
08/27/2024 Santa Barbara City Council Final Agenda Page 3

CITY COUNCIL ADMINISTRATIVE AND ATTORNEY REPORTS

FINANCE DEPARTMENT

8. Subject: City Council Prioritization of Revenue Generated by Proposed Ballot Measure on Transaction and Use Tax Increase to Maintain Essential Local Services [Resolution] (110.03)
Recommendation: That Council adopt, by reading of title only, a Resolution of the Council of the City of Santa Barbara Establishing Priorities for the Expenditure of Revenue from the Santa Barbara Essential Local Services Measure.

COUNCIL AND STAFF COMMUNICATIONS

COUNCILMEMBER ENGAGEMENTS

PUBLIC COMMENT (IF NECESSARY)

ADJOURNMENT
ORDINANCE NO.____________

AN ORDINANCE OF THE COUNCIL OF THE CITY OF SANTA

BARBARA APPROVING A SECOND AMENDMENT TO

AFFORDABILITY CONTROL COVENANT IMPOSED ON REAL

PROPERTY WITH THE TURNER FOUNDATION - SINCE
1958, FOR PROPERTY LOCATED AT 518-524 WEST

CANON PERDIDO STREET, AND AUTHORIZING THE

COMMUNITY DEVELOPMENT DIRECTOR TO EXECUTE SUCH

AMENDMENT
WHEREAS, THE TURNER FOUNDATION – SINCE 1958, a California non-profit public benefit corporation (“Owner”) owns real property commonly known as The Lighthouse Apartments, located at 518–524 West Canon Perdido Street in the City of Santa Barbara ("Property); and
WHEREAS, Owner has requested that the restriction of the sale of the property to only a not-for-profit organization be removed from the City Affordability Control Covenant Imposed on Real Property (City Covenant) that was recorded in the office of the County Recorder on June 22, 2015 (Covenant Date), as Instrument No. 2015-0032324 of official records; and
WHEREAS, a First Amendment to the City Covenant was recorded in the office of the County Recorder on August 26, 2021, as Instrument No. 2021-0061364 of official records (First Amended Covenant) to correct a clerical error by restating the unit numbers; and
WHEREAS, on August 20, 2024, the City Council, introduced and subsequently adopted by reading of title only an ordinance approving a Second Amendment to Affordability Control Covenant Imposed on Real Property (Second Amended Covenant), which will remain on the property for a period of 90 years from the Covenant Date; and Agenda Item No. 1
File Code No. 660.04

THE CITY COUNCIL OF THE CITY OF SANTA BARBARA DOES ORDAIN AS FOLLOWS:

In accordance with the provisions of Section 521 of the Charter of the City of Santa Barbara, an Ordinance of the Council of the City of Santa Barbara approving the Amended Covenant is hereby approved and authorizing subsequent minor amendments to the agreements that do not extend their terms.

CITY OF SANTA BARBARA

COUNCIL AGENDA REPORT
AGENDA DATE: August 27, 2024
TO: Mayor and Councilmembers
FROM: Parks and Recreation Department
SUBJECT: License Agreement with Coast Living, LLC [Resolution; Agreement] RECOMMENDATION: That Council:

A. Authorize the Parks and Recreation Director to execute a four-month license agreement with Coast Living, LLC to operate a rental concession at East Beach; and B. Adopt, by reading of title only, a Resolution of the Council of the City of Santa Barbara Amending Resolution No. 24-066, Adopting the Budget for Fiscal Year 2025, to increase revenue appropriations by $14,115 in the Parks and Recreation Department Fiscal Year 2025 General Fund for the East Beach Rental Concession License Agreement.

DISCUSSION:

The proposed license agreement permits Coast Living, LLC, in exchange for a licensing fee, to provide persons enjoying the City beachfront with the opportunity to rent temporary and portable beach umbrellas, cabanas, or similar shade structures, beach chairs, hammocks, towels, and the sale of sunscreen, bottled water, and other beach sundries.

The Department conducted a competitive Request For Proposals (RFP) process to find a qualified vendor to provide this service.

The new license agreement covers a four-month period from August 28, 2024, through December 31, 2024.

BUDGET/FINANCIAL INFORMATION:

The proposed agreement establishes a one-time payment of $14,115 from Coast Living, LLC for the four-month license agreement with the City of Santa Barbara Parks and Recreation Department.

Agenda Item No. 2
File Code No. 330.08
Council Agenda Report
License Agreement with Coast Living, LLC [Resolution; Agreement] August 27, 2024

Page 2 ends

A copy of the agreement may be requested from the Parks and Recreation Department for public review by contacting Courtney Carlson at [email protected].

PREPARED BY: Adam Porte, Recreation Manager
SUBMITTED BY: Jill E. Zachary, Parks and Recreation Director APPROVED BY: Kelly McAdoo, City Administrator
RESOLUTION NO.

A RESOLUTION OF THE COUNCIL OF THE CITY OF
SANTA BARBARA AMENDING RESOLUTION NO. 24-066,
ADOPTING THE BUDGET FOR FISCAL YEAR 2025, TO
INCREASE REVENUE APPROPRIATIONS BY $14,115 IN

THE PARKS AND RECREATION DEPARTMENT FISCAL
YEAR 2025 GENERAL FUND FOR THE EAST BEACH

RENTAL CONCESSION LICENSE AGREEMENT
WHEREAS, in accordance with the City Charter, the City Administrator filed with the Council a proposed budget for the fiscal year beginning July 1, 2024; WHEREAS, the City Council is required to adopt a budget before the beginning of the fiscal year on July 1, 2024;
WHEREAS, the City Charter provides that at any public meeting after the adoption of the budget, the City Council may amend or supplement the budget by motion adopted by the affirmative votes of at least a majority of the total members of the City Council; and WHEREAS, as authorized by Resolution No. 24-066, this Resolution approves the amendment to the budget as provided herein.

NOW, THEREFORE, be it resolved by the Council of the City of Santa Barbara that in accordance with the provisions of Section 1205 of the City Charter, the budget for the fiscal year 2025, as adopted by Resolution No. 24-066, is hereby amended as follows:

1. The Council approves of the increase in revenue appropriation of $14,115 in the Fiscal Year 2025 Parks and Recreation Department Operating budget.

CITY OF SANTA BARBARA

COUNCIL AGENDA REPORT
AGENDA DATE: August 27, 2024
TO: Mayor and Councilmembers
FROM: Finance Department
SUBJECT: July 2024 Investment Report
RECOMMENDATION:

That Council accepts the July 2024 Investment Report.

DISCUSSION:

The attached investment report includes Investment Activity, Interest Revenue, a Summary of Cash and Investments, and Investment Portfolio detail as of July 31, 2024.

In line with Vision 2030 and focusing on optimizing revenue from existing revenue sources and ongoing efforts to streamline and enhance the investment portfolio’s management and performance, the City has hired Chandler Asset Management to manage the City’s investment portfolio, starting in Fiscal Year 2025. The new Investment Report details come from the Chandler Asset Management reporting system.

ATTACHMENTS: 1. July 2024 Investment Report

2. July 2024 Clean Energy CCA Report

3. July 2024 PARS Section 115 Trust
PREPARED BY: Salvatore Parrilla, Treasury Analyst
SUBMITTED BY: Lyndsay Maas, Assistant Finance Director
APPROVED BY: Kelly McAdoo, City Administrator
Agenda Item No. 3
File Code No. 260.02
ENDING BALANCE AS OF July 31, 2024
Yield to
Book Maturity
Description Value (365 days)
US Bank Checking Account 16,624,722 $ 0.750%State of California Local Agency Investment Fund (LAIF) 45,000,000 4.516%Chandler Asset Management - Managed Portfolio 265,324,293 2.800%Total Cash and Investments 326,949,015 $ July 31, 2024
ATTACHMENT 1

CITY OF SANTA BARBARA
Checking Account, LAIF & Managed Portfolio
Summary of Cash and Investments
2 CONFIDENTIAL | 2
City of Santa Barbara Managed | Account #11204 | As of July 31, 2024 Execution Time: 08/02/2024 11:59:35 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Account Summary
Maturity Distribution
Top Issuers
Credit Quality
Average Modified Duration 1.76
Average Coupon 2.70%
Average Purchase YTM 2.80%
Average Market YTM 4.66%
Average Quality AAA
Average Final Maturity 1.98
Average Life 1.80
Beg. Values as of
07/01/2024
End Values as of
07/31/2024
Market Value 256,904,035.65 259,668,440.38
Accrued Interest 1,335,286.40 1,279,905.10
Total Market Value 258,239,322.05 260,948,345.48
Income Earned 355,634.39 771,611.47
Cont/WD 13,615.80 6.85
Par 265,302,848.81 266,088,618.28
Book Value 264,652,041.78 265,324,293.22
Cost Value 264,261,619.66 264,971,617.63
United States 26.25%
Federal Home Loan Banks 21.91%
Farm Credit System 17.30%
FHLMC 11.05%
U.S. Bancorp 6.20%
Federal Agricultural Mortgage Corp 3.78%
International Bank for Recon and Dev 3.00%
International Finance Corporation 2.62%
*See Footnote
The credit quality is a weighted average calculation of the highest of S&P, Moody’s’ and Fitch CONFIDENTIAL | 4
City of Santa Barbara Managed | Account #11204 | As of July 31, 2024 Execution Time: 08/02/2024 11:59:35 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
AGENCY
31422XZG0

FEDERAL AGRICULTURAL
MORTGAGE CORP 2.91
08/20/2024
3,000,000.00 06/09/2022

2.91%
3,000,000.00
3,000,000.00

99.86 5.46%
2,995,930.62
12,610.00

1.15%
(4,069.38)
Aaa/AA+
AA+

0.05 0.05
3134GY4Z2

FEDERAL HOME LOAN
MORTGAGE CORP 5.0
08/28/2024
3,000,000.00 11/30/2022

4.99%
3,000,000.00
3,000,000.00

99.96 5.36%
2,998,939.50
63,750.00

1.15%
(1,060.50)
Aaa/AA+
AA+

0.08 0.07
3134GXX58

FEDERAL HOME LOAN
MORTGAGE CORP 3.7
09/19/2024
3,000,000.00 09/19/2022

3.70%
3,000,000.00
3,000,000.00

99.76 5.44%
2,992,787.82
40,700.00

1.15%
(7,212.18)
Aaa/AA+
AA+

0.14 0.13
3130ANXR6 FEDERAL HOME LOAN BANKS

0.47 10/23/2024 2,000,000.00 09/23/20210.47%
2,000,000.00
2,000,000.00

98.91 5.36%
1,978,133.48
3,342.22

0.76%
(21,866.52)
Aaa/AA+
AA+

0.23 0.22
3133ENZ94 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 11/18/2024 3,000,000.00 11/29/20224.65% 2,991,600.00
2,998,728.33

99.75 5.29%
2,992,598.97
27,375.00

1.15%
(6,129.36)
Aaa/AA+
AA+

0.30 0.29
3130AMMF6 FEDERAL HOME LOAN BANKS

0.55 11/26/2024 2,000,000.00 05/26/20210.55%
2,000,000.00
2,000,000.00

98.50 5.33%
1,969,955.04
1,986.11

0.76%
(30,044.96)
Aaa/AA+
AA+

0.32 0.31
3134GWA71

FEDERAL HOME LOAN
MORTGAGE CORP 0.5
12/09/2024
3,000,000.00 09/09/2020

0.50%
3,000,000.00
3,000,000.00

98.19 5.68%
2,945,789.88
2,166.67

1.13%
(54,210.12)
Aaa/AA+
AA+

0.36 0.35
3130AQDY6 FEDERAL HOME LOAN BANKS 1.0
12/30/2024 3,000,000.00 12/30/20211.00%
3,000,000.00
3,000,000.00

98.25 5.29%
2,947,431.54
2,583.33

1.14%
(52,568.46)
Aaa/AA+
AA+

0.42 0.41
3130AQDB6 FEDERAL HOME LOAN BANKS

1.125 02/28/2025 3,000,000.00 12/28/20211.13%
3,000,000.00
3,000,000.00

97.82 5.02%
2,934,635.52
3,093.75

1.13%
(65,364.48)
Aaa/AA+
AA+

0.58 0.56
3130AMRJ3 FEDERAL HOME LOAN BANKS 0.6
03/28/2025 2,000,000.00 06/28/20210.60%
2,000,000.00
2,000,000.00

97.18 5.01%
1,943,554.84
4,100.00

0.75%
(56,445.16)
Aaa/AA+
AA+

0.66 0.64
3130ANX96 FEDERAL HOME LOAN BANKS 0.6
03/28/2025 2,000,000.00 09/28/20210.60%
2,000,000.00
2,000,000.00

97.18 5.01%
1,943,554.84
4,100.00

0.75%
(56,445.16)
Aaa/AA+
AA+

0.66 0.64
3130ARKB6 FEDERAL HOME LOAN BANKS

2.75 04/25/2025 2,000,000.00 04/25/20222.75%
2,000,000.00
2,000,000.00

98.46 4.91%
1,969,224.46
14,666.67

0.76%
(30,775.54)
Aaa/AA+
AA+

0.73 0.71
3133EMYN6 FEDERAL FARM CREDIT BANKS
FUNDING CORP 0.71 05/06/2025 2,000,000.00 05/06/20210.71% 2,000,000.00
2,000,000.00

96.60 5.31%
1,932,031.54
3,352.78

0.74%
(67,968.46)
Aaa/AA+
AA+

0.76 0.74
3130AMMT6 FEDERAL HOME LOAN BANKS

0.69 06/10/2025 2,000,000.00 06/10/20210.69%
2,000,000.00
2,000,000.00

96.45 4.96%
1,929,050.66
1,955.00

0.74%
(70,949.34)
Aaa/AA+
AA+

0.86 0.84
3133ENHW3 FEDERAL FARM CREDIT BANKS
FUNDING CORP 1.17 06/23/2025 3,000,000.00 12/23/20211.17% 3,000,000.00
3,000,000.00

96.47 5.26%
2,894,156.43
3,705.00

1.11%
(105,843.57)
Aaa/AA+
AA+

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3136G4U92 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.6 08/26/2025 4,000,000.00 08/26/20200.60% 4,000,000.00
4,000,000.00

95.66 4.81%
3,826,548.48
10,333.33

1.47%
(173,451.52)
Aaa/AA+
AA+

1.07 1.04
31422XBA9

FEDERAL AGRICULTURAL
MORTGAGE CORP 0.48
09/22/2025
3,000,000.00 03/02/2021

0.48%
3,000,000.00
3,000,000.00

95.27 4.78%
2,858,174.88
5,160.00

1.10%
(141,825.12)
Aaa/AA+
AA+

1.15 1.11
3130ALAR5 FEDERAL HOME LOAN BANKS 0.5
11/25/2025 3,000,000.00 02/25/20210.50%
3,000,000.00
3,000,000.00

94.81 4.57%
2,844,305.01
250.00

1.10%
(155,694.99)
Aaa/AA+
AA+

1.32 1.31
3134GXCS1

FEDERAL HOME LOAN
MORTGAGE CORP 0.625
11/25/2025
3,000,000.00 11/25/2020

0.63%
3,000,000.00
3,000,000.00

94.81 4.74%
2,844,223.08
3,437.50

1.10%
(155,776.92)
Aaa/AA+
AA+

1.32 1.28
3130AMFM9 FEDERAL HOME LOAN BANKS 0.9
12/26/2025 3,000,000.00 05/26/20210.90%
3,000,000.00
3,000,000.00

95.06 4.57%
2,851,874.82
4,875.00

1.10%
(148,125.18)
Aaa/AA+
AA+

1.41 1.36
3130AKPQ3 FEDERAL HOME LOAN BANKS

0.58 01/28/2026 3,000,000.00 01/28/20210.58%
3,000,000.00
3,000,000.00

94.32 4.56%
2,829,643.38
145.00

1.09%
(170,356.62)
Aaa/AA+
AA+

1.50 1.45
3130AKSV9 FEDERAL HOME LOAN BANKS

0.75 01/28/2026 3,000,000.00 01/28/20210.65%
3,000,000.00
3,000,000.00

94.58 4.55%
2,837,293.65
187.50

1.09%
(162,706.35)
Aaa/AA+
AA+

1.50 1.45
3130AKQA7 FEDERAL HOME LOAN BANKS 0.7
01/28/2026 3,000,000.00 01/28/20210.61%
3,000,000.00
3,000,000.00

94.51 4.55%
2,835,151.74
175.00

1.09%
(164,848.26)
Aaa/AA+
AA+

1.50 1.45
3133ENJ35 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.32 02/25/2026 3,000,000.00 08/30/20223.47% 2,985,331.95
2,993,408.01

98.28 4.47%
2,948,295.96
43,160.00

1.14%
(45,112.05)
Aaa/AA+
AA+

1.57 1.48
3130AUU36 FEDERAL HOME LOAN BANKS

4.125 03/13/2026 2,000,000.00 03/23/20234.14%
1,999,140.00
1,999,533.57

99.53 4.43%
1,990,620.88
31,625.00

0.77%
(8,912.69)
Aaa/AA+
AA+

1.62 1.52
3130ALGY4 FEDERAL HOME LOAN BANKS 1.0
03/16/2026 2,000,000.00 03/16/20210.80%
2,000,000.00
2,000,000.00

94.55 4.52%
1,890,952.78
7,500.00

0.73%
(109,047.22)
Aaa/AA+
AA+

1.62 1.57
3130ARKG5 FEDERAL HOME LOAN BANKS 3.0
04/21/2026 2,000,000.00 04/21/20223.00%
2,000,000.00
2,000,000.00

97.48 4.53%
1,949,628.00
16,666.67

0.75%
(50,372.00)
Aaa/AA+
AA+

1.72 1.64
31422X2U5

FEDERAL AGRICULTURAL
MORTGAGE CORP 3.625
05/15/2026
2,000,000.00 05/15/2023

3.62%
2,000,000.00
2,000,000.00

98.65 4.41%
1,973,023.40
15,305.56

0.76%
(26,976.60)
Aaa/AA+
AA+

1.79 1.70
3130AMDY5 FEDERAL HOME LOAN BANKS 1.0
05/20/2026 2,000,000.00 05/20/20211.00%
2,000,000.00
2,000,000.00

94.04 4.48%
1,880,826.80
3,944.44

0.72%
(119,173.20)
Aaa/AA+
AA+

1.80 1.75
3133ENXS4

FEDERAL FARM CREDIT
BANKS FUNDING CORP 3.375
05/26/2026
3,000,000.00 05/26/2022

3.38%
3,000,000.00
3,000,000.00

97.98 4.54%
2,939,364.30
18,281.25

1.13%
(60,635.70)
Aaa/AA+
AA+

1.82 1.73
3130AMMZ2 FEDERAL HOME LOAN BANKS 1.0
06/10/2026 2,000,000.00 06/10/20211.00%
2,000,000.00
2,000,000.00

93.88 4.47%
1,877,696.60
2,833.33

0.72%
(122,303.40)
Aaa/AA+
AA+

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3133EMH21 FEDERAL FARM CREDIT BANKS
FUNDING CORP 0.9 06/15/2026 2,000,000.00 06/15/20210.90% 2,000,000.00
2,000,000.00

93.75 4.41%
1,874,997.82
2,300.00

0.72%
(125,002.18)
Aaa/AA+
AA+

1.87 1.82
3133ENHV5 FEDERAL FARM CREDIT BANKS
FUNDING CORP 1.39 06/22/2026 3,000,000.00 12/22/20211.39% 3,000,000.00
3,000,000.00

94.56 4.42%
2,836,920.99
4,517.50

1.09%
(163,079.01)
Aaa/AA+
AA+

1.89 1.83
3133EPNF8 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.82 06/23/2026 2,000,000.00 08/30/20235.07% 1,987,000.00
1,991,261.67

99.71 4.98%
1,994,199.50
10,175.56

0.77%
2,937.83
Aaa/AA+
AA+

1.90 1.78
3133EPQC2

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.625
07/17/2026
2,000,000.00 08/25/2023

4.75%
1,993,220.00
1,995,413.72
100.54

4.33%
2,010,881.02
3,597.22

0.77%
15,467.30
Aaa/AA+
AA+

1.96 1.85
3133EM4S8 FEDERAL FARM CREDIT BANKS
FUNDING CORP 0.87 09/08/2026 2,000,000.00 09/08/20210.87% 2,000,000.00
2,000,000.00

93.01 4.39%
1,860,201.00
6,911.67

0.72%
(139,799.00)
Aaa/AA+
AA+

2.11 2.04
3130ANXS4 FEDERAL HOME LOAN BANKS 0.9
09/28/2026 2,000,000.00 09/28/20210.90%
2,000,000.00
2,000,000.00

92.85 4.41%
1,857,013.80
6,150.00

0.72%
(142,986.20)
Aaa/AA+
AA+

2.16 2.09
3133ENT67 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.25 10/19/2026 3,000,000.00 10/19/20224.26% 2,998,500.00
2,999,169.40

99.95 4.27%
2,998,564.80
36,125.00

1.15%
(604.60)
Aaa/AA+
AA+

2.22 2.07
3130APHA6 FEDERAL HOME LOAN BANKS

1.25 10/28/2026 2,000,000.00 10/28/20211.12%
2,000,000.00
2,000,000.00

93.31 4.41%
1,866,297.22
6,458.33

0.72%
(133,702.78)
Aaa/AA+
AA+

2.24 2.16
3130AXU63 FEDERAL HOME LOAN BANKS

4.625 11/17/2026 2,000,000.00 11/29/20234.54%
2,004,900.00
2,003,788.01
100.89

4.21%
2,017,847.40
19,013.89

0.78%
14,059.39
Aaa/AA+
AA+

2.30 2.14
3133ENLZ1 FEDERAL FARM CREDIT BANKS
FUNDING CORP 1.78 01/26/2027 3,000,000.00 01/27/20221.78% 3,000,000.00
3,000,000.00

94.03 4.34%
2,820,818.67
741.67

1.09%
(179,181.33)
Aaa/AA+
AA+

2.49 2.39
3130AQMX8 FEDERAL HOME LOAN BANKS

2.25 01/26/2027 3,000,000.00 01/26/20221.79%
3,000,000.00
3,000,000.00

95.44 4.20%
2,863,130.22
937.50

1.10%
(136,869.78)
Aaa/AA+
AA+

2.49 2.38
3133ENPB0 FEDERAL FARM CREDIT BANKS
FUNDING CORP 2.18 02/16/2027 3,000,000.00 02/16/20222.18% 3,000,000.00
3,000,000.00

94.97 4.29%
2,849,132.34
29,975.00

1.10%
(150,867.66)
Aaa/AA+
AA+

2.55 2.41
3133EPEE1 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.0 03/29/2027 2,000,000.00 03/29/20234.00% 2,000,000.00
2,000,000.00

99.56 4.18%
1,991,162.30
27,111.11

0.77%
(8,837.70)
Aaa/AA+
AA+

2.66 2.47
3130ARCB5 FEDERAL HOME LOAN BANKS

2.375 03/29/2027 3,000,000.00 03/29/20222.37%
3,000,000.00
3,000,000.00

95.35 4.24%
2,860,639.95
24,145.83

1.10%
(139,360.05)
Aaa/AA+
AA+

2.66 2.52
3133EPED3 FEDERAL FARM CREDIT BANKS
FUNDING CORP 5.27 04/05/2027 2,000,000.00 04/05/20235.27% 2,000,000.00
2,000,000.00

99.61 5.43%
1,992,202.86
33,962.22

0.77%
(7,797.14)
Aaa/AA+
AA+

2.68 2.43
31422X2W1

FEDERAL AGRICULTURAL
MORTGAGE CORP 4.1
05/19/2027
2,000,000.00 05/19/2023

4.10%
2,000,000.00
2,000,000.00

99.04 4.46%
1,980,881.88
16,400.00

0.76%
(19,118.12)
Aaa/AA+
AA+

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3134GXVN1

FEDERAL HOME LOAN
MORTGAGE CORP 3.5
06/23/2027
3,000,000.00 06/23/2022

3.50%
3,000,000.00
3,000,000.00

97.62 4.38%
2,928,586.20
11,083.33

1.13%
(71,413.80)
Aaa/AA+
AA+

2.90 2.71
3134GYPF3

FEDERAL HOME LOAN
MORTGAGE CORP 4.75
07/12/2027
2,000,000.00 04/12/2023

4.75%
2,000,000.00
2,000,000.00

99.77 4.83%
1,995,389.68
5,013.89

0.77%
(4,610.32)
Aaa/AA+
AA+

2.95 2.71
3130AWWN6 FEDERAL HOME LOAN BANKS 4.5
09/10/2027 2,000,000.00 08/24/20234.51%
1,999,120.00
1,999,324.22
101.04

4.14%
2,020,871.86
35,250.00

0.78%
21,547.64
Aaa/AA+
AA+

3.11 2.83
3134GX3H5

FEDERAL HOME LOAN
MORTGAGE CORP 4.75
09/29/2027
3,000,000.00 09/29/2022

4.75%
3,000,000.00
3,000,000.00

99.30 4.99%
2,978,905.95
48,291.67

1.15%
(21,094.05)
Aaa/AA+
AA+

3.16 2.85
3134GY3F7

FEDERAL HOME LOAN
MORTGAGE CORP 5.125
11/22/2027
3,000,000.00 11/22/2022

5.13%
3,000,000.00
3,000,000.00

99.78 5.19%
2,993,503.02
29,468.75

1.15%
(6,496.98)
Aaa/AA+
AA+

3.31 2.98
3133EPG58 FEDERAL FARM CREDIT BANKS
FUNDING CORP 5.12 11/24/2027 2,000,000.00 11/29/20235.12% 2,000,000.00
2,000,000.00

99.63 5.24%
1,992,512.92
19,057.78

0.77%
(7,487.08)
Aaa/AA+
AA+

3.32 2.98
3133EPJ30 FEDERAL FARM CREDIT BANKS
FUNDING CORP 5.38 12/06/2027 2,000,000.00 12/06/20235.38% 2,000,000.00
2,000,000.00

99.46 5.56%
1,989,252.50
16,438.89

0.77%
(10,747.50)
Aaa/AA+
AA+

3.35 3.00
3133EPJC0 FEDERAL FARM CREDIT BANKS
FUNDING CORP 5.02 05/09/2028 2,000,000.00 05/09/20235.02% 2,000,000.00
2,000,000.00

99.71 5.10%
1,994,127.88
22,868.89

0.77%
(5,872.12)
Aaa/AA+
AA+

3.77 3.36
3130AWC24 FEDERAL HOME LOAN BANKS 4.0
06/09/2028 2,000,000.00 06/26/20234.07%
1,993,600.00
1,995,021.44

99.91 4.03%
1,998,105.80
11,555.56

0.77%
3,084.36
Aaa/AA+
AA+

3.86 3.52
3133EPNZ4 FEDERAL FARM CREDIT BANKS
FUNDING CORP 5.0 06/30/2028 2,000,000.00 06/30/20235.00% 2,000,000.00
2,000,000.00
100.05

4.99%
2,000,932.12
8,611.11

0.77%
932.12
Aaa/AA+
AA+

3.92 0.88
3134H1GL1

FEDERAL HOME LOAN
MORTGAGE CORP 5.0
07/18/2028
2,000,000.00 10/19/2023

5.21%
1,982,500.00
1,985,396.48
100.13

4.96%
2,002,660.90
3,611.11

0.77%
17,264.42
Aaa/AA+
AA+

3.97 0.93
3134GYXX5

FEDERAL HOME LOAN
MORTGAGE CORP 5.65
07/26/2028
2,000,000.00 08/30/2023

5.68%
1,997,000.00
1,997,564.17

99.94 5.67%
1,998,765.76
1,569.44

0.77%
1,201.59
Aaa/AA+
AA+

3.99 3.52
3134H1KW2

FEDERAL HOME LOAN
MORTGAGE CORP 5.55
12/04/2028
2,000,000.00 12/04/2023

5.55%
2,000,000.00
2,000,000.00
100.14

5.51%
2,002,869.02
17,575.00

0.77%
2,869.02
Aaa/AA+
AA+

4.34 0.34
Total Agency 148,000,000.00 2.61%
147,931,911.95
147,958,609.03

97.43 4.79%
144,116,774.28
812,284.03

55.50%
(3,841,834.75)
Aaa/AA+
AA+

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CCYUSD Receivable 78,084.54 --

0.00%
78,084.54
78,084.54

1.00 0.00%
78,084.54

0.00 0.03%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 78,084.54 0.00%
78,084.54
78,084.54

1.00 0.00%
78,084.54

0.00 0.03%

0.00 Aaa/AAA
AAA

0.00 0.00

CORPORATE
037833DM9 APPLE INC 1.8 09/11/2024 2,000,000.00 09/11/2019

1.90%
1,990,220.00
1,999,780.53

99.57 5.63%
1,991,444.00
14,000.00

0.77%
(8,336.53)
Aaa/AA+
NA

0.11 0.11
89236TGT6 TOYOTA MOTOR CREDIT CORP

1.8 02/13/2025 2,000,000.00 03/16/20201.77%
2,002,800.00
2,000,305.74

98.19 5.28%
1,963,887.36
16,800.00

0.76%
(36,418.38)
A1/A+
A+

0.54 0.52
037833EB2 APPLE INC 0.7 02/08/2026 3,000,000.00 02/17/2021

0.71%
2,999,250.00
2,999,770.50

94.47 4.51%
2,834,133.21
10,091.67

1.09%
(165,637.29)
Aaa/AA+
NA

1.53 1.48
09247XAP6 BLACKROCK INC 3.25
04/30/2029 3,400,000.00 07/29/20244.60%
3,205,996.00
3,206,219.64

94.89 4.45%
3,226,284.24
27,931.94

1.24%
20,064.61
Aa3/AANA4.75

4.30 24422EXT1 JOHN DEERE CAPITAL CORP 4.85
06/11/2029 3,250,000.00 07/18/20244.62%
3,281,980.00
3,281,747.48
101.51

4.50%
3,299,076.40
21,892.36

1.27%
17,328.91
A1/A
A+

4.86 4.27
437076DC3 HOME DEPOT INC 4.75
06/25/2029 3,250,000.00 07/18/20244.59%
3,272,652.50
3,272,486.22
101.23

4.47%
3,290,062.82
15,437.50

1.27%
17,576.60
A2/A
A

4.90 4.25
Total Corporate 16,900,000.00 3.28%
16,752,898.50
16,760,310.10

98.34 4.71%
16,604,888.02
106,153.47

6.39%
(155,422.08)
Aa3/A+
A+

3.20 2.85

MONEY MARKET
FUND
31846V807 FIRST AMER:TRS OBG Y 16,110,533.74 --

4.88%
16,110,533.74
16,110,533.74

1.00 4.88%
16,110,533.74

0.00 6.20%

0.00 Aaa/
AAAm
AAA

0.00 0.00
Total Money
Market Fund 16,110,533.74 4.88%
16,110,533.74
16,110,533.74

1.00 4.88%
16,110,533.74

0.00 6.20%

0.00 Aaa/
AAAm
AAA

0.00 0.00

SUPRANATIONAL
45950VPQ3 INTERNATIONAL FINANCE CORP

0.25 08/22/2024 3,000,000.00 02/22/20210.25%
2,999,490.00
2,999,991.61

99.69 5.60%
2,990,654.34
3,312.50

1.15%
(9,337.27)
Aaa/AAA
NA

0.06 0.06
45950KCT5 INTERNATIONAL FINANCE CORP

0.375 07/16/2025 2,000,000.00 06/03/20210.62%
1,980,000.00
1,995,359.04

95.90 4.80%
1,918,074.14
312.50

0.74%
(77,284.90)
Aaa/AAA
NA

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
459058JL8

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 0.5 10/28/2025
3,000,000.00 01/22/2021

0.50%
3,000,000.00
3,000,000.00

95.09 4.61%
2,852,710.47
3,875.00

1.10%
(147,289.53)
Aaa/AAA
NA

1.24 1.21
45950VPU4 INTERNATIONAL FINANCE CORP

0.75 03/23/2026 2,000,000.00 03/23/20210.81%
1,994,600.00
1,998,228.59

94.27 4.40%
1,885,323.88
5,333.33

0.73%
(112,904.71)
Aaa/AAA
NA

1.64 1.60
45906M3G4

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.0 09/09/2027
3,000,000.00 09/09/2022

4.00%
3,000,000.00
3,000,000.00

97.76 4.78%
2,932,864.20
47,333.33

1.13%
(67,135.80)
Aaa/NA
NA

3.11 2.84
45906M4E8

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.5 06/26/2028
2,000,000.00 06/26/2023

4.53%
1,997,500.00
1,998,050.08
100.27

4.42%
2,005,409.70
8,750.00

0.77%
7,359.62
Aaa/AAA
NA

3.91 1.80
Total
Supranational 15,000,000.00 1.76%
14,971,590.00
14,991,629.33

97.28 4.82%
14,585,036.73
68,916.67

5.62%
(406,592.60)
Aaa/AAA
NA

1.76 1.40

US TREASURY
91282CDS7 UNITED STATES TREASURY 1.125
01/15/2025 3,000,000.00 01/18/20221.21%
2,992,528.02
2,998,858.35

98.22 5.11%
2,946,656.25
1,559.10

1.13%
(52,202.10)
Aaa/AA+
AA+

0.46 0.45
91282CED9 UNITED STATES TREASURY 1.75
03/15/2025 3,000,000.00 03/15/20221.83%
2,993,286.27
2,998,615.60

98.06 4.94%
2,941,669.92
19,830.16

1.13%
(56,945.68)
Aaa/AA+
AA+

0.62 0.61
912828ZL7 UNITED STATES TREASURY 0.375
04/30/2025 2,000,000.00 09/24/20210.66%
1,979,531.25
1,995,762.94

96.70 4.92%
1,933,906.24
1,895.38

0.74%
(61,856.70)
Aaa/AA+
AA+

0.75 0.73
912828ZT0 UNITED STATES TREASURY 0.25
05/31/2025 2,000,000.00 06/02/20210.55%
1,976,091.16
1,995,034.70

96.26 4.88%
1,925,187.50
846.99

0.74%
(69,847.20)
Aaa/AA+
AA+

0.83 0.81
912828ZW3 UNITED STATES TREASURY 0.25
06/30/2025 2,000,000.00 09/03/20210.57%
1,975,468.75
1,994,148.35

95.98 4.78%
1,919,671.88
434.78

0.74%
(74,476.47)
Aaa/AA+
AA+

0.91 0.89
91282CHN4 UNITED STATES TREASURY 4.75
07/31/2025 2,000,000.00 09/27/20235.16%
1,985,625.00
1,992,225.11
100.02

4.73%
2,000,359.38
258.15

0.77%
8,134.27
Aaa/AA+
AA+

1.00 0.97
91282CAB7 UNITED STATES TREASURY 0.25
07/31/2025 3,000,000.00 02/12/20210.38%
2,982,773.44
2,996,153.09

95.68 4.72%
2,870,437.50

20.38 1.11%
(125,715.59)
Aaa/AA+
AA+

1.00 0.98
91282CBC4 UNITED STATES TREASURY 0.375
12/31/2025 2,000,000.00 06/02/20210.70%
1,970,768.30
1,990,966.65

94.38 4.52%
1,887,578.12
652.17

0.73%
(103,388.53)
Aaa/AA+
AA+

1.42 1.38
91282CBW0 UNITED STATES TREASURY 0.75
04/30/2026 3,000,000.00 01/12/20221.45%
2,912,812.50
2,964,602.65

93.97 4.37%
2,819,062.50
5,686.14

1.09%
(145,540.15)
Aaa/AA+
AA+

1.75 1.70
91282CCF6 UNITED STATES TREASURY 0.75
05/31/2026 2,000,000.00 09/24/20210.88%
1,988,281.25
1,995,422.15

93.74 4.34%
1,874,843.76
2,540.98

0.72%
(120,578.39)
Aaa/AA+
AA+

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CHM6 UNITED STATES TREASURY 4.5
07/15/2026 2,000,000.00 02/09/20244.30%
2,009,080.00
2,007,298.81
100.39

4.29%
2,007,812.50
4,157.61

0.77%
513.70
Aaa/AA+
AA+

1.96 1.85
91282CCP4 UNITED STATES TREASURY 0.625
07/31/2026 2,000,000.00 09/24/20210.90%
1,973,950.30
1,989,277.11

93.09 4.27%
1,861,718.76

33.97 0.72%
(127,558.35)
Aaa/AA+
AA+

2.00 1.95
91282CCW9 UNITED STATES TREASURY 0.75
08/31/2026 2,000,000.00 10/08/20211.00%
1,975,781.25
1,989,705.68

93.09 4.25%
1,861,875.00
6,277.17

0.72%
(127,830.68)
Aaa/AA+
AA+

2.08 2.02
91282CCZ2 UNITED STATES TREASURY 0.875
09/30/2026 2,000,000.00 10/08/20211.02%
1,986,406.25
1,994,092.92

93.18 4.20%
1,863,593.76
5,881.15

0.72%
(130,499.16)
Aaa/AA+
AA+

2.17 2.10
912828YU8 UNITED STATES TREASURY 1.625
11/30/2026 2,000,000.00 02/28/20221.86%
1,978,437.50
1,989,429.90

94.34 4.19%
1,886,875.00
5,505.46

0.73%
(102,554.90)
Aaa/AA+
AA+

2.33 2.24
912828YX2 UNITED STATES TREASURY 1.75
12/31/2026 2,000,000.00 03/17/20222.17%
1,961,956.00
1,980,825.82

94.52 4.16%
1,890,390.62
3,043.48

0.73%
(90,435.20)
Aaa/AA+
AA+

2.42 2.32
91282CEN7 UNITED STATES TREASURY 2.75
04/30/2027 2,000,000.00 02/09/20244.19%
1,913,750.00
1,926,511.48

96.51 4.10%
1,930,156.24
13,899.46

0.74%
3,644.76
Aaa/AA+
AA+

2.75 2.59
91282CFB2 UNITED STATES TREASURY 2.75
07/31/2027 3,000,000.00 02/09/20244.19%
2,861,608.80
2,880,599.39

96.30 4.07%
2,889,023.43
224.18

1.11%
8,424.04
Aaa/AA+
AA+

3.00 2.84
91282CFH9 UNITED STATES TREASURY 3.125
08/31/2027 2,000,000.00 02/09/20244.17%
1,931,718.75
1,940,864.97

97.31 4.06%
1,946,250.00
26,154.89

0.75%
5,385.03
Aaa/AA+
AA+

3.08 2.87
91282CFU0 UNITED STATES TREASURY 4.125
10/31/2027 2,000,000.00 06/28/20234.12%
2,000,000.00
2,000,000.00
100.27

4.04%
2,005,312.50
20,849.18

0.77%
5,312.50
Aaa/AA+
AA+

3.25 2.98
91282CFZ9 UNITED STATES TREASURY 3.875
11/30/2027 2,000,000.00 01/25/20244.10%
1,984,380.00
1,986,481.20

99.51 4.03%
1,990,234.38
13,128.42

0.77%
3,753.18
Aaa/AA+
AA+

3.33 3.08
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 3,000,000.00 01/25/20244.08%
2,977,500.00
2,980,461.35

99.55 4.02%
2,986,523.43
10,108.70

1.15%
6,062.08
Aaa/AA+
AA+

3.42 3.16
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 2,000,000.00 01/25/20244.08%
1,957,414.00
1,962,900.54

98.32 4.02%
1,966,484.38
190.22

0.76%
3,583.84
Aaa/AA+
AA+

3.50 3.26
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 2,000,000.00 06/28/20234.06%
1,995,000.00
1,996,171.65

99.96 4.01%
1,999,296.88
33,478.26

0.77%
3,125.23
Aaa/AA+
AA+

3.58 3.25
91282CGT2 UNITED STATES TREASURY 3.625
03/31/2028 2,000,000.00 01/25/20244.07%
1,966,020.00
1,970,225.78

98.73 4.00%
1,974,609.38
24,364.75

0.76%
4,383.60
Aaa/AA+
AA+

3.67 3.36
91282CHA2 UNITED STATES TREASURY 3.5
04/30/2028 2,000,000.00 01/25/20244.06%
1,956,484.36
1,961,766.61

98.28 4.00%
1,965,625.00
17,690.22

0.76%
3,858.39
Aaa/AA+
AA+

3.75 3.45
91282CHE4 UNITED STATES TREASURY 3.625
05/31/2028 2,000,000.00 01/25/20244.07%
1,965,180.00
1,969,324.19

98.72 3.99%
1,974,375.00
12,281.42

0.76%
5,050.81
Aaa/AA+
AA+

3.84 3.52
91282CHQ7 UNITED STATES TREASURY 4.125
07/31/2028 3,000,000.00 01/25/20244.06%
3,007,950.00
3,007,038.81
100.52

3.98%
3,015,585.93
336.28

1.16%
8,547.12
Aaa/AA+
AA+

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CHX2 UNITED STATES TREASURY 4.375
08/31/2028 2,000,000.00 02/23/20244.35%
2,002,000.00
2,001,806.18
101.49

3.97%
2,029,843.76
36,616.85

0.78%
28,037.58
Aaa/AA+
AA+

4.08 3.65
91282CJN2 UNITED STATES TREASURY 4.375
11/30/2028 2,000,000.00 02/23/20244.33%
2,003,722.00
2,003,380.14
101.66

3.95%
2,033,125.00
14,822.40

0.78%
29,744.86
Aaa/AA+
AA+

4.33 3.89
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 3,000,000.00 01/25/20244.04%
2,961,093.75
2,965,174.37

99.17 3.96%
2,975,039.07
9,782.61

1.15%
9,864.70
Aaa/AA+
AA+

4.42 4.02
Total US Treasury 70,000,000.00 2.81%
69,126,598.90
69,425,126.48

97.46 4.30%
68,173,123.07
292,550.93

26.25%
(1,252,003.41)
Aaa/AA+
AA+

2.50 2.33
Total Portfolio 266,088,618.28 2.80%
264,971,617.63
265,324,293.22

91.48 4.66%
259,668,440.38
1,279,905.10
100.00%
(5,655,852.84)
Aaa/AA+
AA+

TRANSACTION LEDGER
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 07/01/2024 31846V807 203,125.00 FIRST AMER:TRS OBG Y 1.000 4.89% (203,125.00) 0.00 (203,125.00) 0.00 Purchase 07/01/2024 31846V807 8,464.22 FIRST AMER:TRS OBG Y 1.000 4.89% (8,464.22) 0.00 (8,464.22) 0.00 Purchase 07/02/2024 31846V807 3,037,282.21 FIRST AMER:TRS OBG Y 1.000 4.89% (3,037,282.21) 0.00 (3,037,282.21) 0.00 Purchase 07/09/2024 31846V807 2,500,000.00 FIRST AMER:TRS OBG Y 1.000 4.89% (2,500,000.00) 0.00 (2,500,000.00) 0.00 Purchase 07/10/2024 31846V807 2,307.72 FIRST AMER:TRS OBG Y 1.000 4.89% (2,307.72) 0.00 (2,307.72) 0.00 Purchase 07/12/2024 31846V807 47,500.00 FIRST AMER:TRS OBG Y 1.000 4.89% (47,500.00) 0.00 (47,500.00) 0.00 Purchase 07/15/2024 31846V807 61,875.00 FIRST AMER:TRS OBG Y 1.000 4.90% (61,875.00) 0.00 (61,875.00) 0.00 Purchase 07/16/2024 31846V807 3,760.00 FIRST AMER:TRS OBG Y 1.000 4.90% (3,760.00) 0.00 (3,760.00) 0.00 Purchase 07/17/2024 31846V807 2,046,250.00 FIRST AMER:TRS OBG Y 1.000 4.90% (2,046,250.00) 0.00 (2,046,250.00) 0.00 Purchase 07/17/2024 31846V807 30,006.85 FIRST AMER:TRS OBG Y 1.000 4.90% (30,006.85) 0.00 (30,006.85) 0.00 Purchase 07/18/2024 31846V807 50,000.00 FIRST AMER:TRS OBG Y 1.000 4.89% (50,000.00) 0.00 (50,000.00) 0.00 Purchase 07/19/2024 437076DC3 3,250,000.00 HOME DEPOT INC 4.75 06/25/2029 100.697 4.59% (3,272,652.50) (10,291.67) (3,282,944.17) 0.00 Purchase 07/19/2024 24422EXT1 3,250,000.00 JOHN DEERE CAPITAL CORP 4.85 06/11/2029 100.984 4.62% (3,281,980.00) (16,638.19) (3,298,618.19) 0.00 Purchase 07/26/2024 31846V807 116,950.00 FIRST AMER:TRS OBG Y 1.000 4.89% (116,950.00) 0.00 (116,950.00) 0.00 Purchase 07/29/2024 31846V807 19,200.00 FIRST AMER:TRS OBG Y 1.000 4.89% (19,200.00) 0.00 (19,200.00) 0.00 Purchase 07/29/2024 31846V807 11,250.00 FIRST AMER:TRS OBG Y 1.000 4.89% (11,250.00) 0.00 (11,250.00) 0.00 Purchase 07/30/2024 09247XAP6 3,400,000.00 BLACKROCK INC 3.25 04/30/2029 94.294 4.60% (3,205,996.00) (27,625.00) (3,233,621.00) 0.00 Purchase 07/31/2024 31846V807 2,225,625.00 FIRST AMER:TRS OBG Y 1.000 4.89% (2,225,625.00) 0.00 (2,225,625.00) 0.00 Total Purchase 20,263,596.00 (20,124,224.50) (54,554.86) (20,178,779.36) 0.00 TOTAL
ACQUISITIONS 20,263,596.00 (20,124,224.50) (54,554.86) (20,178,779.36) 0.00

DISPOSITIONS
Maturity 07/02/2024 3133ELQ56 (3,000,000.00)

FEDERAL FARM CREDIT

BANKS FUNDING CORP

0.57 07/02/2024
100.000 0.57% 3,000,000.00 0.00 3,000,000.00 0.00
Maturity 07/31/2024 91282CFA4 (2,000,000.00) UNITED STATES TREASURY

3.0 07/31/2024 100.000 3.00% 2,000,000.00 0.00 2,000,000.00 0.00 Total Maturity (5,000,000.00) 5,000,000.00 0.00 5,000,000.00 0.00 CONFIDENTIAL | 13
City of Santa Barbara Managed | Account #11204 | As of July 31, 2024 Execution Time: 08/02/2024 11:59:35 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss Sale 07/01/2024 8AMMF0GA3 (8,464.22) US Bank Liquidity Plus 1.000 0.00% 8,464.22 0.00 8,464.22 0.00 Sale 07/09/2024 8AMMF0GA3 (2,500,000.00) US Bank Liquidity Plus 1.000 0.00% 2,500,000.00 0.00 2,500,000.00 0.00 Sale 07/19/2024 31846V807 (6,581,562.36) FIRST AMER:TRS OBG Y 1.000 4.89% 6,581,562.36 0.00 6,581,562.36 0.00 Sale 07/25/2024 31846V807 (406.28) FIRST AMER:TRS OBG Y 1.000 4.90% 406.28 0.00 406.28 0.00 Sale 07/30/2024 31846V807 (3,233,621.00) FIRST AMER:TRS OBG Y 1.000 4.89% 3,233,621.00 0.00 3,233,621.00 0.00 Total Sale (12,324,053.86) 12,324,053.86 0.00 12,324,053.86 0.00 TOTAL
DISPOSITIONS (17,324,053.86) 17,324,053.86 0.00 17,324,053.86 0.00 OTHER
Call Redemption 07/17/2024 3134H1GP2 (2,000,000.00)

FEDERAL HOME LOAN
MORTGAGE CORP 6.0
10/17/2028
100.000 6.01% 2,000,000.00 0.00 2,000,000.00 680.77
Total Call
Redemption (2,000,000.00) 2,000,000.00 0.00 2,000,000.00 680.77 Cash Transfer 07/17/2024 CCYUSD 6.85 Cash 0.00% 6.85 0.00 6.85 0.00 Total Cash
Transfer 6.85 6.85 0.00 6.85 0.00
Coupon 07/02/2024 3133ELQ56 0.00

FEDERAL FARM CREDIT

BANKS FUNDING CORP

0.57 07/02/2024

0.57% 8,550.00 0.00 8,550.00 0.00
Coupon 07/12/2024 3134GYPF3 0.00

FEDERAL HOME LOAN
MORTGAGE CORP 4.75
07/12/2027

4.75% 47,500.00 0.00 47,500.00 0.00
Coupon 07/15/2024 91282CDS7 0.00 UNITED STATES TREASURY

1.125 01/15/2025 1.21% 16,875.00 0.00 16,875.00 0.00
Coupon 07/15/2024 91282CHM6 0.00 UNITED STATES TREASURY

4.5 07/15/2026 4.30% 45,000.00 0.00 45,000.00 0.00
Coupon 07/16/2024 45950KCT5 0.00 INTERNATIONAL FINANCE
CORP 0.375 07/16/2025 0.62% 3,760.00 0.00 3,760.00 0.00 Coupon 07/17/2024 3133EPQC2 0.00

FEDERAL FARM CREDIT

BANKS FUNDING CORP

4.625 07/17/2026

TRANSACTION LEDGER
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss Coupon 07/17/2024 3134H1GP2 0.00

FEDERAL HOME LOAN
MORTGAGE CORP 6.0
10/17/2028

6.01% 30,000.00 0.00 30,000.00 0.00
Coupon 07/18/2024 3134H1GL1 0.00

FEDERAL HOME LOAN
MORTGAGE CORP 5.0
07/18/2028

5.21% 50,000.00 0.00 50,000.00 0.00
Coupon 07/25/2024 3130ALAR5 0.00 FEDERAL HOME LOAN
BANKS 0.5 11/25/2025 0.50% 1,250.00 0.00 1,250.00 0.00
Coupon 07/26/2024 3130AQMX8 0.00 FEDERAL HOME LOAN
BANKS 2.25 01/26/2027 2.25% 33,750.00 0.00 33,750.00 0.00 Coupon 07/26/2024 3133ENLZ1 0.00

FEDERAL FARM CREDIT

BANKS FUNDING CORP

1.78 01/26/2027

1.78% 26,700.00 0.00 26,700.00 0.00
Coupon 07/26/2024 3134GYXX5 0.00

FEDERAL HOME LOAN
MORTGAGE CORP 5.65
07/26/2028

5.68% 56,500.00 0.00 56,500.00 0.00
Coupon 07/28/2024 3130AKPQ3 0.00 FEDERAL HOME LOAN
BANKS 0.58 01/28/2026 0.58% 8,700.00 0.00 8,700.00 0.00 Coupon 07/28/2024 3130AKQA7 0.00 FEDERAL HOME LOAN
BANKS 0.7 01/28/2026 0.70% 10,500.00 0.00 10,500.00 0.00 Coupon 07/28/2024 3130AKSV9 0.00 FEDERAL HOME LOAN
BANKS 0.75 01/28/2026 0.75% 11,250.00 0.00 11,250.00 0.00 Coupon 07/31/2024 91282CAB7 0.00 UNITED STATES TREASURY

0.25 07/31/2025 0.38% 3,750.00 0.00 3,750.00 0.00
Coupon 07/31/2024 91282CCP4 0.00 UNITED STATES TREASURY

0.625 07/31/2026 0.90% 6,250.00 0.00 6,250.00 0.00
Coupon 07/31/2024 91282CFB2 0.00 UNITED STATES TREASURY

2.75 07/31/2027 4.19% 41,250.00 0.00 41,250.00 0.00
Coupon 07/31/2024 91282CGH8 0.00 UNITED STATES TREASURY

3.5 01/31/2028 4.08% 35,000.00 0.00 35,000.00 0.00
Coupon 07/31/2024 91282CHN4 0.00 UNITED STATES TREASURY

4.75 07/31/2025 5.16% 47,500.00 0.00 47,500.00 0.00
Coupon 07/31/2024 91282CHQ7 0.00 UNITED STATES TREASURY

TRANSACTION LEDGER
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss Coupon 07/31/2024 91282CFA4 0.00 UNITED STATES TREASURY

3.0 07/31/2024 3.00% 30,000.00 0.00 30,000.00 0.00
Total Coupon 0.00 622,210.00 0.00 622,210.00 0.00
Custody Fee 07/25/2024 CCYUSD (1,656.28) Cash 0.00% (1,656.28) 0.00 (1,656.28) 0.00 Total Custody
Fee (1,656.28) (1,656.28) 0.00 (1,656.28) 0.00
Dividend 07/09/2024 8AMMF0GA3 0.00 US Bank Liquidity Plus 0.00% 2,307.72 0.00 2,307.72 0.00 Dividend 07/31/2024 31846V807 0.00 FIRST AMER:TRS OBG Y 4.89% 78,084.54 0.00 78,084.54 0.00 Total Dividend 0.00 80,392.26 0.00 80,392.26 0.00

TOTAL OTHER
TRANSACTIONS (2,001,649.43) 2,700,952.83 0.00 2,700,952.83 680.77 ENDING BALANCE AS OF July 31, 2024
Book
Description Value
River City Bank Lockbox Account 4,791,998 $ River City Bank ICS (Investment Account) 18,828,280Total Cash and Investments 23,620,278 $ July 31, 2024
ATTACHMENT 2

COMMUNITY CHOICE ENERGY (CCE)

CITY OF SANTA BARBARA
Summary of Cash and Investments
2 ENDING BALANCE AS OF July 31, 2024
Book
Description Value
Section 115 Trust 2,401,191 $ Total Cash and Investments 2,401,191 $ July 31, 2024
ATTACHMENT 3

CITY OF SANTA BARBARA
PARS Post-Employment Benefits Trust
Summary of Cash and Investments
2 CITY OF SANTA BARBARA

COUNCIL AGENDA REPORT
AGENDA DATE: August 27, 2024
TO:

FROM:

SUBJECT:

Mayor and Councilmembers
Library Department
Professional Services Agreement Between the Library and Family Service Agency of Santa Barbara for Community Support Services and Outreach [Agreement]
RECOMMENDATION:

That Council authorize the Acting Library Director to execute a City Professional Services Agreement in the amount of $137,500 with Family Service Agency of Santa Barbara to provide Community Support Specialist contracted positions that would work in collaboration with Library staff through July 30, 2025.

DISCUSSION:

By way of the proposed agreement, Family Service Agency of Santa Barbara (“FSA”) provides contracted staff who proactively engage individuals experiencing financial and/or housing insecurity at the Library. Contracted staff share information and facilitate referrals to community resources that support access to housing, social, educational, mental health, and medical services and have completed Homelessness Management Information System (“HMIS”) training to be able to view individuals in the system, their case worker details, and update individuals as document ready. More specifically, contracted staff help individuals and families access a wide range of services including housing assistance, completing Santa Barbara Housing Authority applications or Mexican Consulate applications, submitting CalFresh applications or medical/health care applications, or registering for affordable internet and utilities services.

In Fiscal Year 2024, FSA’s contracted staff at the Library completed 571 appointments with 403 unique individuals. These appointments assisted 149 people with meeting basic needs (including 63 Unity Shoppe referrals), 152 with securing housing, 30 with obtaining vital documents, 88 with navigating and completing Mexican Consulate processes and paperwork, 98 with obtaining or navigating processes regarding healthcare or wellness, 30 with financial assistance, 59 with obtaining social support, 16 with childcare, preAgenda Item No. 4 File Code No. 570.04
Council Agenda Report
Professional Services Agreement Between the Library and Family Service Agency of Santa Barbara for Community Support Services and Outreach [Agreement] August 27, 2024

Page 2 ends

school enrollment, and parenting, 42 with obtaining education and training, and 176 with various other needs.

The contracted staff provided by FSA also participate in outreach efforts at the Eastside Neighborhood Navigation Center (“NNC”) alongside Library staff to offer assistance to people experiencing homelessness with obtaining vital documents and applying for social services benefits. In Fiscal Year 2024, contracted staff were able to assist 166 individuals at the Eastside NNC, including the completion of 51 Medi-Cal or CalFresh applications, assisting 130 individuals with obtaining vital documents, 24 with securing housing, and 13 with obtaining or navigating processes regarding healthcare or wellness.

FSA has been contracted by the City to provide the aforementioned community support services at the Library since Fiscal Year 2022. The agreement being brought forward for City Council approval would ensure that these vital services will continue to be provided through July 30, 2025.

BUDGET/FINANCIAL INFORMATION:

The total cost for an annual contract with Family Service Agency of Santa Barbara is $137,500 and is budgeted within the Library’s Fiscal Year 2025 Expenditure General Fund Budget.

A copy of the contract/agreement may be requested from the Library for public review; please email [email protected] to request a copy.

PREPARED BY: Kathrin Rosenberger, Administrative Analyst SUBMITTED BY: Brandon Beaudette, Acting Library Director APPROVED BY: Kelly R. McAdoo, City Administrator

CITY OF SANTA BARBARA

COUNCIL AGENDA REPORT
AGENDA DATE: August 27, 2024
TO: Mayor and Councilmembers
FROM: Parks and Recreation Department
SUBJECT: Skofield Park Resident Caretaker [Agreement]
RECOMMENDATION:

That Council authorize the Parks and Recreation Director to execute a Caretaker Rental Agreement for Skofield Park with Todd Newell, commencing September 1, 2024, through August 31, 2025.

DISCUSSION:

The Parks and Recreation Department (Department) administers three resident caretaker agreements in Franceschi, Skofield, and Hilda McIntyre Ray Parks. Caretakers enter into a one-year lease agreement subject to City Council approval. Lease agreements are renewable annually for up to a total of three years. Caretaker positions are available to permanent City employees working for the Parks and Recreation Department.

Caretaker duties may be required as part of normal work hours or as structured overtime.

These normal work duties consist of:

1. Opening and closing the park parking lot entrance gates, Monday-Friday.

2. Conducting a daily site walk prior to park closure.

3. Maintaining a log of all time spent on caretaker services.

4. Submitting a monthly log to the Parks Manager for review and approval.

All other park maintenance and management duties are the responsibility of assigned Parks Division and/or Recreation Division employees.

Skofield Park Caretaker Agreement
In July 2024, the Department conducted a recruitment to fill the caretaker position at Skofield Park. Open to Parks and Recreation Department permanent employees, Todd Agenda Item No. 5
File Code No. 570.05
Council Agenda Report
Skofield Park Resident Caretaker [Agreement]
August 27, 2024

Page 2 ends

Newell was selected as caretaker. The Department recommends approval of a first oneyear agreement with Todd Newell from September 1, 2024, through August 31, 2025.

BUDGET/FINANCIAL INFORMATION:

No rent will be received as revenue, as caretaker services are performed in lieu of rent.

Copies of the agreements are on file in the Parks and Recreation Department office.

Please contact [email protected] to request a copy.

PREPARED BY: Jazmin LeBlanc, Assistant Parks and Recreation Director SUBMITTED BY: Jill E. Zachary, Parks and Recreation Director APPROVED BY: Kelly McAdoo, City Administrator

CITY OF SANTA BARBARA

COUNCIL AGENDA REPORT
AGENDA DATE: August 27, 2024
TO: Mayor and Councilmembers
FROM: Information Technology Department
SUBJECT: Vic Trace Radio Tower FEMA Replacement [Agreement] RECOMMENDATION:

That Council authorize the Information Technology Director to execute a sole source Purchase Order to Tower Systems in the amount of $279,059 for the replacement of the Vic Trace Radio Tower.

DISCUSSION:

In January 2023, a severe storm hit the City of Santa Barbara, resulting in the failure of the City's 35-foot radio tower at the Vic Trace Reservoir. This tower plays a crucial role in supporting several City radio systems. City staff collaborated with the Federal Emergency Management Agency (FEMA) to process a claim to replace the radio tower in response to the storm damage. FEMA has reviewed the project and agreed to provide funding detailed in the budget/financial information section.

This tower replacement project is solely to replace the fallen tower in its exact location.

This project is not related to other Vic Trace projects.

The replacement tower will be situated in a pre-approved area that will not interfere with the ongoing Water Reservoir Project planned for the site. Extensive coordination has been undertaken between all relevant stakeholders to ensure that the new tower meets the future needs of the site while maintaining operational efficiency.

This recommendation aligns with the City's commitment to ensuring the continuity and efficiency of essential communication systems, thus safeguarding the City's and residents' interests.

A copy of the agreement may be requested from the Information Technology Department for public review by contacting [email protected].

BUDGET/FINANCIAL INFORMATION:

The total project cost is $279,059.82. FEMA has reviewed the project and agreed to provide $250,000 towards the total project cost. The City will cover the remaining portion Agenda Item No. 6
File Code No. 170.04
Council Agenda Report
Vic Trace Radio Tower FEMA Replacement [Agreement]
August 27, 2024

Page 2 ends

of the project cost, amounting to $29,059.82, using previously appropriated funds designated for radio system upgrades.

PREPARED BY: Justin Cure, Information Technology Director SUBMITTED BY: Justin Cure, Information Technology Director APPROVED BY: Kelly McAdoo, City Administrator

CITY OF SANTA BARBARA

COUNCIL AGENDA REPORT
AGENDA DATE: August 27, 2024
TO: Mayor and Councilmembers
FROM: Finance Department
SUBJECT: City Council Prioritization of Revenue Generated by Proposed Ballot Measure on Transaction and Use Tax Increase to Maintain Essential Local Services [Resolution]
RECOMMENDATION:

That Council adopt, by reading of title only, a Resolution of the Council of the City of Santa Barbara Establishing Priorities for the Expenditure of Revenue from the Santa Barbara Essential Local Services Measure.

DISCUSSION:

On November 5, 2024, Santa Barbara voters will vote on the City of Santa Barbara Essential Local Services Measure of a transaction and use (i.e. sales) tax increase by a half percent. The language of the measure reads as follows:

CITY OF SANTA BARBARA ESSENTIAL LOCAL SERVICES

MEASURE
YES
Shall the measure maintaining 9-1-1
emergency/fire/paramedic/police response, keeping
neighborhood fire stations open; improving housing
affordability; addressing homelessness; keeping public
areas/parks safe, clean; maintaining library services;
stormwater protection; improving natural disaster
preparedness; retaining local businesses/jobs, and for
general government use; by establishing a ½¢ sales tax
providing approximately $15,600,000 annually until
ended by voters; requiring audits, public spending
disclosure, all funds used locally, be adopted?
NO
Similar to the action taken by City Council in relation to the Measure C sales tax measure that the voters approved in 2017, the Council has adopted two resolutions articulating the priorities of how Measure C funds generated should be expended. This direction was also Agenda Item No. 8
File Code No. 110.03
Council Agenda Report
City Council Prioritization of Revenue Generated by Proposed Ballot Measure on Transaction and Use Tax Increase to Maintain Essential Local Services [Resolution] August 27, 2024

Page 2 ends

given by the City Council when they voted unanimously to refer the Santa Barbara Essential Local Services measure to the November ballot on June 11, 2024.

Based on the Finance Committee, City Council and public input, and feedback received from various public meetings, below is a proposed list of priorities that can be funded though this tax measure:
 Maintaining 911 emergency fire, paramedic, and police response;  Making contributions to the City's Local Housing Trust Fund, improving housing affordability, and addressing homelessness;
 Keeping local fire stations open;
 Maintaining library services;
 Keeping public areas and parks safe and clean;
 Stormwater protection;
 Improving natural disaster preparedness; and
 Retaining local businesses and jobs.

On August 20, 2024, the list of priorities was discussed with the Finance Committee. The Committee voted unanimously to recommend this list, as proposed by staff and currently presented in this manner on the ballot, to the City Council for consideration.

BUDGET/FINANCIAL INFORMATION:

There is no budget or financial impact from adopting a resolution articulating the priorities of how funds generated should be expended. If passed by the voters in November 2024, the tax will take effect in April 2025. The City Council will appropriate the use of tax revenues during the annual budget process.

Additional information about the Santa Barbara Essential Local Services Measure can be accessed at the following website: https://santabarbaraca.gov/Nov2024Ballot PREPARED BY: Keith DeMartini, Finance Director
SUBMITTED BY: Keith DeMartini, Finance Director
APPROVED BY: Kelly McAdoo, City Administrator
1 RESOLUTION NO.

A RESOLUTION OF THE COUNCIL OF THE CITY OF

SANTA BARBARA ESTABLISHING PRIORITIES FOR

THE EXPENDITURE OF REVENUE FROM THE SANTA

BARBARA ESSENTIAL LOCAL SERVICES MEASURE
WHEREAS, as authorized by Revenue and Taxation Code Section 7285.9, on June 11, 2024, the City Council adopted Resolution 24-074 approving and calling for the submission of a proposition measure at the General Municipal Election for the enactment of a City ordinance imposing a half percent transaction and use tax; WHEREAS, as directed by Resolution 24-074, the Santa Barbara Essential Local Services Measure (“Measure”) was placed on the November 5, 2024 ballot; WHEREAS, the revenue from the tax Measure may be used for any lawful purpose of the City, as authorized by ordinance, resolution or action of the City Council or by ordinance adopted by the electorate of the City but may not be directed into a special fund or for a special purpose;
WHEREAS, the Ordinance enacting the Measure provides as follows:

The City's revenues are insufficient to fully provide general municipal services and facilities to fully provide general municipal services and facilities, including maintaining 9- 1-1 emergency fire, paramedic, and police response, keeping neighborhood fire stations open, improving housing affordability, addressing homelessness, keeping public area and parks safe and clean, maintaining library services, stormwater protection, improving natural disaster preparedness, retaining local businesses and jobs, and other general governmental uses at the level that is necessary or desirable at the level that is necessary or desirable.

The funding made available by this Chapter, together with other available revenues, generate approximately $15,600,000 to enable the City to maintain its essential general municipal services and facilities and to make payments to its local housing trust fund; and WHEREAS, to ensure that the funds are used for general fund purposes contemplated in the Measure, the Council hereby establishes the priorities listed below for the allocation and expenditure of funds generated by the Measure.

NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF SANTA BARBARA THAT:

1. That Council hereby determines that funds generated from the Measure shall be generally allocated according to the following priorities:
2  Maintaining 911 emergency fire, paramedic, and police response;  Making contributions to the City’s Local Housing Trust Fund, improving housing affordability, and addressing homelessness;
 Keeping local fire stations open;
 Maintaining library services;
 Keeping public areas and parks safe and clean;
 Stormwater protection;
 Improving natural disaster preparedness; and
 Retaining local businesses and jobs.

2. Funding shall be appropriated to specific projects with the City’s annual operating and capital budget.

Santa Barbara City CouncilAugust 27, 2024

Santa Barbara City Council
August 27, 2024