SOW
Appendix B Appendix
C Appendix
D
Appendix
E
Network Device
Management
Appendix
A2
SOW
Managed
Endpoint
Detec;on &
Response
Appendix
A3
SOW
Appendix B3
SOW
Appendix
C3
SOW
Appendix
D3
Appendix
E3
Appendix
F3
Appendix
G3
Appendix
H3
Managed
Vulnerability Scan
Appendix
A4 Appendix B4 Appendix C4
Appendix
D4
Appendix
E4
Appendix
F4
SIEM Appendix
A5 Appendix B5 Appendix C5
Appendix
D5
Appendix
E5
Appendix
F5
Storage
Management
Appendix
A6 Appendix B6
Appendix Cisco
Umbrella
Appendix
A7
Patching for
Worksta;ons
Appendix
A8 Appendix B8
Third-Party
Patching for
Worksta;ons
Appendix
A9
Unified Threat
Management
Appendix
A10 Appendix B10 Appendix C10 Appendix D10
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Appendix B – API Patching Func4onality
For Windows Operating Systems
1. Our agent uses the WUA API to fetch the missing patches and install the patches in the device
2. After the installation of patches is completed, the agent sends the overall installation result of patches installed with error codes, if any
3. Alerts have five stages
a. Initiate: Patch scan is initiated
b. Search: Missing patches are found and approved
c. Download initiated: Patches are downloaded from the Microsoft server and WSUS d. Install complete: Installation is completed successfully e. Patch management completed
For Linux Operating Systems
1. Our agent uses the following APIs to fetch the missing patches and install the patches in the device
a. Ubuntu – Ubuntu core python-apt API
b. RHEL – Yum core API
c. SLES – zypper commands to get the patches
2. The agent uses a locally configured system repository to download and install package upgrades
3. After the installation of patches is completed, the agent sends the overall installation result of patches installed with errors, if any
4. Alerts have four stages
a. Initiate: Patch scan is initiated
b. Search: Missing patches are found and approved
c. Install complete: Installation is completed successfully d. Patch management completed
Appendix C – Microso< Windows Requirements
Windows Requirements
As defined in Microsoft’s Fixed Lifecycle Policy, each Windows Operating System is mapped to one of three lifecycle phases
1. Mainstream Support
o These Operating Systems meet the IBE Server Patch Management service requirements
o As of the publish date of this document, includes: Windows 10, Windows 11, Windows Server 2019, Windows Server 2022
2. Extended Support
o These Operating Systems meet the IBE Server Patch Management service requirements
o As of the publish date of this document, includes: Windows 8.1, Windows Server 2016
3. Beyond End of Support
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o ESU* is required to meet the IBE Server Patch Management service requirements, unless an exception is approved during onboarding
o As of the publish date of this document, includes: Windows 7, Windows Server 2008 R2
Microsoft’s end date for each Operating System lifecycle phase can be found here. For example, Windows 7 Mainstream Support end date was 1/13/2015, and Extended Support end date was 1/14/2020
*Microsoft offers an Extended Security Update (ESU) program for some Operating Systems that fall into the Beyond End of Support lifecycle phase.
Appendix D – Linux Opera4ng System Requirements
Linux Requirements
The following Linux Operating Systems are supported for IBE Patch Management, if the OS version has vendor Full or Premier Support
• Red Hat Enterprise Linux
• Ubuntu Linux
• CentOS Linux
• Oracle Enterprise Linux
• SuSE Enterprise Linux
Appendix E – Device List
Appendix D3 – EDR Agent General and Network Considera4ons The SentinelOne agent can be installed on current versions of three Operating Systems: Microsoft Windows, Apple macOS and Linux. Each Operating System has specific IBE MEDR service requirements, detailed in Appendixes E3/F3/G3. Below are IBE’s common hardware, virtualization and network recommendations that apply to all Operating Systems.
Hardware - General
• Covered by manufacturer warranty
• Multiple-core Intel, AMD, or M1 processor CPU
o CPU micro-architectures such as x86_32, ARM, RISC, MIPS are not supported • 8 GB memory (or more)
• 10% free disk space (or more)
Virtual Environments
The MEDR endpoint agent is supported on Virtual Machines, if the VM is running a supported Operating System and is hosted on one of the following hypervisors:
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• Citrix XenApp
• Citrix XenDesktop
• Oracle VirtualBox
• VMware vSphere
• VMware Workstation
• VMware Fusion
• VMware Horizon
• Microsoft Hyper-V
Network and Bandwidth
Proxy/Firewall: Agents that go through a proxy server (or firewall gateway) must have an average network bandwidth of at least 5 Mbps.
On average, endpoints update the SentinelOne console with new telemetry every 30-60 seconds, with small amounts of compressed data. While each endpoint system data transfer may vary due to applications and workloads and associated telemetry that is gathered, the average data transfer perendpoint is estimated to be an average of 5-10 Megabytes per-day.
VPN considerations:
• Cloud-based Management API: If the agent is configured to go through an internal proxy server, the endpoint must reach the proxy through a VPN • If PAN-OS 8.1 (Palo Alto Networks) is used, SentinelOne must be manually added as an approved application
Appendix E3 – Microso1 Windows Requirements
Windows Requirements
As defined in Microsoft’s Fixed Lifecycle Policy, each Windows Operating System is mapped to one of three lifecycle phases:
1. Mainstream Support
o These Operating Systems meet the IBE MEDR service requirements o As of the publish date of this document, includes: Windows 10, Windows 11, Windows Server 2019, Windows Server 2022
2. Extended Support
o These Operating Systems meet the IBE MEDR service requirements o As of the publish date of this document, includes: Windows 8.1, Windows Server 2012, Windows Server 2012 R2, Windows Server 2016
3. Beyond End of Support
o ESU* is required to meet the IBE MEDR service requirements, unless an exception is approved during onboarding
o As of the publish date of this document, includes: Windows 7, Windows Server 2008 R2
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Microsoft’s end date for each Operating System lifecycle phase can be found here. For example, Windows 7 Mainstream Support end date was 1/13/2015, and Extended Support end date was 1/14/2020
The Windows SentinelOne agent install requires .NET Framework 4, and have other install considerations to be addressed during onboarding. This includes Windows 8.1 and Windows Server 2012 R2 requiring Microsoft KB updates that must be installed.
*Microsoft offers an Extended Security Update (ESU) program for some Operating Systems that fall into the Beyond End of Support lifecycle phase.
Appendix F3 – Apple macOS Requirements
Apple macOS Requirements
Apple doesn’t have a defined support policy for their macOS releases. Historically, Apple supports and releases Apple security updates for:
1. The most current version of macOS
o This macOS release meets the IBE MEDR service requirements o As of the publish date of this document: Monterey (12)
2. The previous two versions of macOS
o These macOS releases meet the IBE MEDR service requirements o As of the publish date of this document: Big Sur (11), Catalina (10.15)
There are specific concerns around upgrading to new macOS releases. Consult the MEDR Support Team when planning macOS upgrades.
Appendix G3 – Linux Requirements
Linux Requirements
The SentinelOne Linux agent requirements vary, supporting distributions with newer kernel version on both desktops and servers. The Linux Agent supports SELinux in Permissive and Enforcing modes. Kernels lower than 2.6 are not supported. Kernels prior to 3.11 have specific limitations which need to be reviewed at onboarding. The Linux Agent does not support systems with Kernel Lockdown set to "Confidentiality". For the full list of supported Linux distributions and versions, please consult the MEDR Support Team.
The SentinelOne Linux agent is compiled with 64-bit kernel and libraries. It supports Intel x86_64 compatible architecture and x64 hardware. The Linux agent does not support:
• 32-bit architecture
• CPU micro-architectures such as ppc64, x86_32, ARM, RISC, MIPS • UNIX OS versions such as FreeBSD, AIX, Solaris
In addition to the hardware recommendations detailed in Appendix D2, the SentinelOne Linux agent minimally requires:
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• CPU: 2 GHz Dual-core
o Instruction-supported CPU: SSE4_2 (SSE4a is not supported) • Memory: 4 GB RAM
• Storage: 25 GB free disk space for OS, including 2 GB in /opt/sentinelone Appendix H3 – Rollback Exceptions and Limitations
Rollback Exceptions and Limitations
SentinelOne Rollback leverages Microsoft Volume Shadow Copy Service (VSS). This feature is not available in scenarios where VSS should be disabled, such as high-traffic file servers. This feature is not available on non-Windows operating systems.
Some environmental conditions exist that require extra configuration of either the SentinelOne platform or other factors in the IT environment. These may lead to varying levels of degradation for rollback features of the SentinelOne Windows agent or system performance.
Rollback Degradation Levels:
Crashes Custom built applications, CrowdStrike, DWG TrueView, Exchange Servers, SQL Servers, Nuance EditScript, SafeBreach, Storyline by Articulate, Unitrends, Oracle Compatibility Acronis, AutoCAD (2014 or newer), AdBackup, Cisco AnyConnect VPN, Citrix, Commvault, ConnectWise, CorelDRAW, CrashPlan, Docker, FireEye, LogicMonitor, SCOM, N-able Backup Manager, SAP, SOLIDWORKS, Varonis, VSS Writer Exclusions Environment
Limitations
AppVolume, FileMaker Pro, Minitab 18, Network Glue
Interoperability Issues Bitdefender, Cisco AMP, CyberArk, Cybereason, Cylance, Dell CMG, DeviceLock, Digital Guardian DLP, ESET, Forcepoint, Ivanti (LANDESK), McAfee, Domain Controllers, Hyper-V, Qualys, Sophos, Symantec Antivirus, Tanium Threat Response, Trend Micro, Veritas/Symantec Backup, VMware Horizon Performance Veeam
Appendix A4 – Customer Requirements
The customer is responsible for providing
1. An asset inventory list, including
• A list of valid IP addresses used exclusively by the customer which they want scanned with network scans
2. A list of systems to be scanned remotely by Aegify Remote scanner software • Installation of the Aegify Remote scanner agent for vulnerability remote scanning on systems selected by the customer (only if customer is not managed by IBE). • Virtual Environment Hosting resources for Aegify network scanner Virtual Machine (VM)
o See Appendix B4 for Aegify network scanner resource requirements • Network access for Aegify network scanner VM
o See Appendix D4 for network access for Aegify network scanner VM • Allow-listing of Aegify Cloud scanner Ips
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o See Appendix D4 for network requirements relating to the Aegify Cloud Scanner • Internet access for any systems scanned by a Aegify Remote scanner, or for the Aegify network Scanner for an Internal network scan
o See Appendix D4 for network requirements and considerations • A customer-internal primary point of contact for escalation, coordination, and communication
• Assurance that all endpoints scanned by the service have general IT support coverage, including management of security updates
o Coverage and management can be delivered either:
§ Internally
§ By IBE
§ By another Managed Service Provider (MSP)
• Assurance that all devices to be protected by the service are authorized to have the service installed (Aegify Remote scanners)
• Assurance that all IP addresses to be scanned by the service are authorized by the customer to be scanned (Aegify network Scanner over the network)
The customer is responsible for
1. Reviewing the identified vulnerabilities and determine if the risk associated with each vulnerability is acceptable or must be remediated
2. Remediating these vulnerabilities, either directly or with a remediation plan with managed IT resources
3. Notifying IBE if the list of devices being monitored for vulnerabilities has changed • e.g., IP Address range change, new device installs or device retirement Appendix B4 – Aegify Network Scanner Resource Requirements The Aegify network scanner can be deployed on Cloud infrastructure or on-premises Infrastructure. Below is IBE recommended hardware specification for the Aegify network scanner VM:
• CPU: Minimum 2 GHZ (x86_64 architecture)
• RAM: At least 8 GB with an available memory of at least 3 GB • HDD/SSD: At least 20 GB free space for up to 500 hosts in a single scan. • Network: 100/1000 Mbps network interface
Appendix C4 – Aegify Remote Scanner Resource Requirements Below is IBE recommended hardware specification for the Aegify remote scanner:
• CPU: Minimum 2 GHz (x86_64 architecture)
• RAM: At least 8 GB with an available memory of at least 2 GB • HDD/SSD: At least 10 GB free space
Appendix D4 – Network Requirements
Aegify Network Scanner network requirements can be found here:
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https://app.aegify.com/Network_Scanner_System_Requirements.htm
Aegify Remote Scanner network requirements can be found here:
https://app.aegify.com/Remote_Scanner_System_Requirements.htm https://downloads.aegify.com/aegifyscanner/installer/Security_Scanner_Setup_Guide.pdf Appendix E4 – Aegify Agent Support
Aegify Remote Scanner supported systems for remote scanning The Aegify Remote Scanner supports systems running macOS, Linux, and Windows Operating Systems. See Aegify documentation on remote scanner system requirements for details:
https://app.aegify.com/Remote_Scanner_System_Requirements.htm
While most systems on a customer’s network can be scanned remotely over the network, the installation of the Aegify Remote Scanner is unsupported on systems which include but are not limited to:
• VOIP systems
• Mobile devices such as iOS or Android
• Network Appliances
• Printers
Appendix F4 – Aegify Vulnerability CVE ID Updates
Aegify releases updates that idenkfy newly discovered vulnerabilikes in the form of Common Vulnerability and Exposure (CVE) idenkfier, also called a “CVE ID.” Although Aegify does not have a published SLA for the release of these CVE IDs, Aegify has a curated repository of veoed computer sopware exploits and exploitable vulnerabilikes. Aegify vulnerability and exploit database is updated frequently and contains the most recent security research.
Appendix A5 – Customer Requirements
During service onboarding, the customer is responsible for providing:
• Using the form provided by IBE, an asset inventory list of all in-scope SIEM log sources, including:
o A list of valid device IP addresses, hostnames, and device types o A list of cloud services
o A list of valid network details, including subnets, descriptions, VLAN numbers, and site locations
• If applicable, a Virtual Machine (VM) that meets minimum resource requirements for SIEM collector/forwarder device
o See Appendix D5 for hardware/resource requirements for SIEM collector/forwarder • Access to customer environment for SIEM service onboarding and for ongoing support/maintenance
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o Initial installation of IBE approved remote access application on approved “jump box” during onboarding project
• Network whitelisting of required external IPs/URLs for service delivery o See Appendix B5 for whitelisting requirements relating to the SIEM service • Point of contacts for escalation, coordination, and communication needs • Assurance that all devices identified as in-scope for the service are authorized to send logs to IBE’s SIEM platform for analysis.
• Access and authorization for the IBE SIEM team to implement recommended logging settings and configure in-scope devices to log to the SIEM service o If access and authorization is not approved, the customer is responsible for implementing all settings and configurations
o Settings and configurations can be provided at time of onboarding
During ongoing service delivery, the customer is responsible for:
• Performing remediation of detected threats, reported by the SIEM service o Remediation may be performed by IBE managed IT resources, if applicable • Determining if the risk associated with each confirmed threat is acceptable or must be remediated
o Accepted risks are communicated to IBE for proper documentation and exception creation.
• Notifying IBE if the list of devices being monitored for SIEM service has changed o Add/removal of devices
o Device retirement/replacement
Appendix B5 – Customer Whitelis4ng Requirements
SIEM Collector/forwarder may require inbound access on TCP/UDP ports listed below, based on inscope technologies:
o UDP/2055 (NetFlow), UDP/6343 (SFlow)
o 10523-10528 (TCP)
o 11516-11686 (TCP)
• SIEM collector/forwarder will require outbound network access to the following URLs (all ports TCP):
o *.ubuntu.com & *.opensuse.org, Port 80 (For OS Updates/Patches) o malachiteingestion-pa.googleapis.com:443
o accounts.google.com:443
o gcr.io:443
o oauth2.googleapis.com:443
o storage.googleapis.com:443
• The following ports will need to be open on the Windows Log Collection host as well as the servers where Windows Event Logs will be remotely collected from:
o TCP Ports - 135,139,445,49152-65535
o UDP Ports - 137,138
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• Outbound network access of OpsRamp Agent for collector/forwarder remote monitoring & management (port 443 & 8443):
o 140.239.76.0/24
o 206.80.7.128/26
o 34.86.90.64/27
Appendix C5 – SIEM Threat Intelligence Data Updates
IBE SIEM plasorm supports the ingeskon of threat intelligence data via STIX/TAXII standards. Ingested data is updated dynamically as threat feeds refresh. Threat Intelligence data resides in the database for limited kme, and is dynamically removed or overridden when no longer applicable to idenkfy a threat.
Appendix E5 – SIEM Collector/Forwarder Resource Requirements The SIEM collector/forwarder can be deployed within cloud or on-prem infrastructure. Minimum required specifications:
• 2 Cores CPU
• 2 GB RAM
• 200 GB disk space
Appendix F5 – Customer Portal Availability
The Managed SIEM Customer Portal will maintain an availability rate of 99.9%, excluding any planned maintenance windows. Availability rate is calculated as follows:
• 60 minutes/hour * 24 hours/day * 365 days/year = 525,600 minutes/year • 525,600 minutes/year * .001 = 526 minutes/year
• 526 minutes over 12 months = 44 minutes, or less, unplanned downtime/month Appendix A6 – Service Levels
Prioritization - Incidents and service requests are prioritized as follows Priority Impact/Severity
Critical Widespread, multiple sites/users impacted, or business critical application down High Multiple sites/users, or business critical application degraded Medium Single site/user, alternative or workaround available and acceptable to customer Low Service or Change request, depending on customer action NoPficaPon – IBE will noPfy customers via email of alerts and incidents as follows Priority Notification
Critical 90% responded to within 15 minutes
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High 90% responded to within 2 hours
Medium 90% responded to within 6 hours
Low 90% responded to within 6 hours
Appendix B6 – Vendor Specific Monitoring
The following vendor specific storage metrics are included in default monitoring templates Storage Make & Model Storage Metrics
EMC Clariion/VNX Metrics
• Disk utilization
• Hardware health
• Storage processor status
• Volume status
• Storage pool status
• Storage SAN performance
• Storage SAN status
• Power supply status
• Controller status
NetApp Metrics
• Storage system health
• System hardware
• Disk drive RAID information
• Protocol based performance monitoring – NFS
• Protocol based performance monitoring – CIFS
• Cluster failover (failover state, partner status and interconnect status)
• SNAP mirror summary
• Logical disk monitors
• Filer inventory details
• Snap vault summary
• NDMP summary (tape backups)
• License enabled state
EqualLogic Metrics
• Member health
• Hardware (controller battery status)
• Disk status and performance
• Group members and pool details
• Storage pools and volumes
Left-hand SAN Switches
• SAN hardware monitors
• SAN cluster space, and performance
• Hardware monitors for reliability, sensor switches, power modules, RAID, temperature status
• Replication status, system statistics and volume
• File system utilization
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Data Domain • Hardware, storage, and performance monitors • File system utilization
Isilon • Hardware, storage, and performance monitors
• Volume utilization
Nimble storage • Hardware, storage, and performance monitors • Volume utilization
Appendix A7 – Content Categories
High, Moderate, and Low Category Levels
• High: Blocks adult-related status, illegal activity, social networking, video sharing site, and general time-wasters
o Includes all Moderate and Low content categories
o Note that not all content categories are listed under High o There is a sub-listing of content categories that are only available to Custom • Moderate: Blocks all adult-related websites and illegal activity • Low: Blocks pornography and anonymous web surfing
• Custom: For the creation of a custom grouping
o Any combination of the above content categories
The High, Moderate, and Low levels propagate upward. Low categories are included with Moderate and both Moderate and Low category presets are included in High.
High Moderate Low
Adult Adult Adult
Alcohol Alcohol Child Abuse Content
Auctions Cannabis DNS over HTTPS and DNS over TLS
(Transport Layer Security)
Cannabis Child Abuse Content Extreme
Chat and Instant Messaging Dating Filter Avoidance
Child Abuse Content DNS over HTTPS and DNS over TLS
(Transport Layer Security)
Pornography
Dating Extreme
DNS over HTTPS and DNS over TLS
(Transport Layer Security)
Filter Avoidance
Extreme Gambling
Filter Avoidance Hate Speech
Gambling Illegal Drugs
Games Lingerie and Swimsuits
Hate Speech Non-sexual Nudity
Illegal Drugs Pornography
Lingerie and Swimsuits Terrorism and Violent Extremism
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Non-sexual Nudity Weapons
Online Communities
Online Storage and Backup
Peer File Transfer
Photo Search and Images
Pornography
Social Networking
Streaming Video
Terrorism and Violent Extremism
Weapons
Web-based Email
Custom Category Level
Custom includes all categories included with the High seung as well as categories that are unique to Custom. These Custom seungs are not propagated upward to any other seung.
Custom
Advertisements Internet of Things Regional Restricted Sites (Poland)
Animals and Pets Internet Telephony Religion
Arts Job Search SaaS and B2B
Astrology Lotteries Safe for Kids
Business and Industry Military Science and Technology
Cloud and Data Centers Mobile Phones Search Engines and Portals Computer Security Museums Sex Education
Computers and Internet Nature and Conservation Shopping Conventions, Conferences, and Trade
Shows
News Social Science
Digital Postcards Non-governmental
Organizations
Society and Culture
Cryptocurrency Not Actionable Software Updates
Dining and Drinking Online Sharing and
Collaboration
Sports and Recreation
DIY Projects Online Meetings Streaming Audio
Dynamic and Residential Online Trading Tobacco
Education Organizational Email Transportation
Entertainment Paranormal Travel
Fashion Parked Domains URL Shorteners
File Transfer Services Personal Sites Web Cache and Archives
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Finance Personal VPN Web Hosting
Freeware and Shareware Politics Web Page Translation
Government and Law Private IP Addresses as Host
Hacking Professional Networking
Health and Medicine Real Estate
Humor Recipes and Food
Hunting Reference
Illegal Activities Regional Restricted Sites
(Germany)
Illegal Downloads Regional Restricted Sites
(Great Britain)
Infrastructure and Content Delivery
Networks
Regional Restricted Sites (Italy)
Appendix A8 – Windows WorkstaGon OS Requirements
Windows WorkstaPon Requirements
• IBE Patching for Workstakons operakng system requirements o Supported build version of Windows Pro, Enterprise, or Educakon as listed here o Home edikon is not supported
• Excepkons:
o Windows requirement excepkons for IBE Patching for Workstakons § Windows 10 Enterprise and Educakon covered under a Microsop’s Extended Security Update (ESU) program
• Versions that can be supported under an ESU listed here Appendix B8 – Windows Patching Rollback Service Levels
PrioriPzaPon - Rollback requests are prioriPzed as follows Priority Impact/Severity
Critical Widespread, multiple sites/users impacted, or business critical application down High Multiple sites/users, or business critical application degraded Medium Single site/user, alternative or workaround available and acceptable to customer Low Service or Change request, depending on customer action NoPficaPon – IBE will noPfy customers via email of alerts and incidents as follows Priority Notification
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Critical 90% responded to within 2 hours
High 90% responded to within 4 hours
Medium 90% responded to within 8 hours
Low 90% responded to within 12 hours
Response – Service level objecPves for iniPaPng rollback requests Priority Notification
Critical 90% responded to within 8 business hours
High 90% responded to within 16 business hours
Medium 90% responded to within 32 business hours
Low 90% responded to within 48 business hours
Appendix A9- Supported Third-Party ApplicaGons
The following URL, https://sis.n-able.com/3rdPartySw/ThirdPartySoftware.html, lists the available thirdparty applications that can be updated by the endpoint patch management agent. • This list is subject to change by the endpoint patch management vendor, with or without notice
• Not all language versions (locales) can be updated by the endpoint patch management agent
o Supported locales are listed in the "InstallerLocale" column • Workstations must be able to connect to each software vendor’s installer web address o These web addresses are listed in the "InstallerURLs" column o These connections could be potentially blocked by a: Firewall, web content filter solution, Endpoint Protection solution (antivirus, EDR) o Related IBE services are pre-configured to allow these connections, including: Network Device Management, MEDR, and Virus & Malware Protection Appendix A10 - IBE ForGManager PlaSorm – ForGOS CompaGbility Matrix This service requires compakbility with the IBE ForkManager Plasorm. This compakbility is achieved when uklizing a hardware model that is capable of running one of the designated ForkOS sopware series. Both the hardware and sopware change over kme, the below reference is valid as of the date specified.
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• ForkGate Hardware Model support (as of February 1st 2022) o Small – 60E/F
o Medium – 80E/F and 100E/F
o Large – 200E/F
o Custom – Hardware model must support one of the required ForkOS series listed below, UTP services subscripkon may require custom pricing
• Compakbility verificakon required prior to enrollment • ForkOS Sopware support (as of October 1st 2022)
o 6.4.x series
o 7.0.x series
o 7.2.x series
Appendix B10 - MUTM Service Firmware Update Schedules and DefiniGons • Standard Updates – These upgrades include minor bug fixes, feature releases, or other non-crikcal patches. They are performed on average twice a year, and are scheduled in advance, during our normal maintenance windows.
• Urgent Updates – These updates resolve newly discovered vulnerabilikes that have the potenkal to be exploited, but are not currently being ackvely exploited. They are performed at the next available maintenance window and may be scheduled with short nokce. • Crikcal Updates – These updates are to resolve vulnerabilikes with ackve exploits that create significant risk to the environment. They will take place as soon as possible aper hours or during other acceptable downkme windows. Timing will be coordinated via the IBE support team, Service Delivery Manager, MUTM Team and Customer as required.
*Customer pre-authorized maintenance windows may be specified during the onboarding process to expedite updates based on severity.
Appendix C10 - MUTM Service Review Schedules and DefiniGons IBE Engineers review general firewall configurakons, Security Profiles, and Firewall Policies to ensure security best prackces and opkmizakon.
• Inikal Review – Performed during onboarding of device • Ongoing Change Review – Performed when changes are made to the device • Device Health Review
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o Automated – Alerts are generated based on firewall resource uklizakon and performance metrics, as well as important events such as failed Forkguard updates. • These alerts are generated 24x7x365 and inveskgated/resolved during standard service hours o Manual Review – Proackve verificakon of overall device health, firmware version, and recent modificakons. These reviews are performed on a monthly basis, and also occur aper an automated health alert.
• Management Plasorm Health Review
o Automated - Alerts are generated when a device is not communicakng with management plasorms
• These alerts are generated 24x7x365 and inveskgated/resolved during standard service hours o Manual Review – Proackve verificakon of device conneckvity and logging rate. These reviews are performed on a monthly basis, and also occur aper an automated health alert.
Appendix D10 - MUTM Standard Reports and Schedules
Standard weekly reports
• Threat Summary
• Security and Threat Prevenkon
• Admin Login
• System Events
Standard monthly reports
• Bandwidth and Applicakons
• Applicakon Visibility and Control
• Web Usage
• Detected Threats
• VPN Usage
• Admin Login and System Events
EXHIBIT D
PAYMENT SCHEDULE
Phase AH Hourly Rate to Customer PS Investment H&S Investment Tax Total Per Project Infrastructure Upgrade $ 451,125.00 $ 774,029.10 $ 46,507.06 $ 1,271,661.16 End User Workstations upgrade (250 34", 15 40") $ 704,017.05 $ 73,921.79 $ 777,938.84 Monthly pmnt if financed all h&W $ 32,960.43 Total= $ 451,125.00 $ 1,478,046.15 $ 120,428.85 $ 2,049,600.00 Month Column4Equipment payment MRR Project Labour Total Investment /Month Dec-24 $ 32,960.43 $ 56,390.63 $ 89,351.06
Jan-25 $ 32,960.43 $ 56,390.63 $ 89,351.06
Feb-25 $ 32,960.43 $ 56,390.63 $ 89,351.06
Mar-25 $ 32,960.43 $ 56,390.63 $ 89,351.06
Apr-25 $ 32,960.43 $ 56,390.63 $ 89,351.06
May-25 $ 32,960.43 $ 35,767.00 $ 56,390.63 $ 125,118.06 Jun-25 $ 32,960.43 $ 35,767.00 $ 56,390.63 $ 125,118.06 Fiscal Year Investment Jul-25 $ 32,960.43 $ 35,767.00 $ 56,390.59 $ 125,118.06 FY 24/25 $ 696,991.41 Aug-25 $ 32,960.43 $ 35,767.00 $ 68,727.43 FY 25/26 $ 886,842.50 Sep-25 $ 32,960.43 $ 35,767.00 $ 68,727.43 FY 26/27 $ 865,246.01 Oct-25 $ 32,960.43 $ 35,767.00 $ 68,727.43 FY 27/28 $ 906,161.18 Nov-25 $ 32,960.43 $ 35,767.00 $ 68,727.43 FY 28/29 $ 943,407.57 Dec-25 $ 32,960.43 $ 35,767.00 $ 68,727.43 FY 29/30 $ 651,408.25 Jan-26 $ 32,960.43 $ 35,767.00 $ 68,727.43 $ 4,950,056.92 Feb-26 $ 32,960.43 $ 35,767.00 $ 68,727.43
Mar-26 $ 32,960.43 $ 35,767.00 $ 68,727.43
Apr-26 $ 32,960.43 $ 35,767.00 $ 68,727.43
May-26 $ 32,960.43 $ 38,628.36 $ 71,588.79
Jun-26 $ 32,960.43 $ 38,628.36 $ 71,588.79
Jul-26 $ 32,960.43 $ 38,628.36 $ 71,588.79
Aug-26 $ 32,960.43 $ 38,628.36 $ 71,588.79
Sep-26 $ 32,960.43 $ 38,628.36 $ 71,588.79
Oct-26 $ 32,960.43 $ 38,628.36 $ 71,588.79
Nov-26 $ 32,960.43 $ 38,628.36 $ 71,588.79
Dec-26 $ 32,960.43 $ 38,628.36 $ 71,588.79
Jan-27 $ 32,960.43 $ 38,628.36 $ 71,588.79
Feb-27 $ 32,960.43 $ 38,628.36 $ 71,588.79
Mar-27 $ 32,960.43 $ 38,628.36 $ 71,588.79
Apr-27 $ 32,960.43 $ 38,628.36 $ 71,588.79
May-27 $ 32,960.43 $ 41,718.63 $ 74,679.06
Jun-27 $ 32,960.43 $ 41,718.63 $ 74,679.06
Jul-27 $ 32,960.43 $ 41,718.63 $ 74,679.06
Aug-27 $ 32,960.43 $ 41,718.63 $ 74,679.06
Sep-27 $ 32,960.43 $ 41,718.63 $ 74,679.06
Oct-27 $ 32,960.43 $ 41,718.63 $ 74,679.06
Nov-27 $ 32,960.43 $ 45,056.12 $ 78,016.55
Dec-27 $ 32,960.43 $ 41,718.63 $ 74,679.06
Jan-28 $ 32,960.43 $ 41,718.63 $ 74,679.06
Feb-28 $ 32,960.43 $ 41,718.63 $ 74,679.06
Mar-28 $ 32,960.43 $ 41,718.63 $ 74,679.06
Apr-28 $ 32,960.43 $ 41,718.63 $ 74,679.06
May-28 $ 32,960.43 $ 45,056.12 $ 78,016.55
Jun-28 $ 32,960.43 $ 45,056.12 $ 78,016.55
Jul-28 $ 32,960.43 $ 45,056.12 $ 78,016.55
Aug-28 $ 32,960.43 $ 45,056.12 $ 78,016.55
Sep-28 $ 32,960.43 $ 45,056.12 $ 78,016.55
Oct-28 $ 32,960.43 $ 45,056.12 $ 78,016.55
Nov-28 $ 32,960.43 $ 45,056.12 $ 78,016.55
Dec-28 $ 32,960.43 $ 45,056.12 $ 78,016.55
Jan-29 $ 32,960.43 $ 45,056.12 $ 78,016.55
Feb-29 $ 32,960.43 $ 45,056.12 $ 78,016.55
Mar-29 $ 32,960.43 $ 45,056.12 $ 78,016.55
Apr-29 $ 32,960.43 $ 45,056.12 $ 78,016.55
May-29 $ 32,960.43 $ 48,660.61 $ 81,621.04
Jun-29 $ 32,960.43 $ 48,660.61 $ 81,621.04
Jul-29 $ 32,960.43 $ 48,660.61 $ 81,621.04
Aug-29 $ 32,960.43 $ 48,660.61 $ 81,621.04
Sep-29 $ 32,960.43 $ 48,660.61 $ 81,621.04
Oct-29 $ 32,960.43 $ 48,660.61 $ 81,621.04
Nov-29 $ 32,960.43 $ 48,660.61 $ 81,621.04
Dec-29 $ - $ 48,660.61 $ 48,660.61
Jan-30 $ - $ 48,660.61 $ 48,660.61
Feb-30 $ - $ 48,660.61 $ 48,660.61
Mar-30 $ - $ 48,660.61 $ 48,660.61
Apr-30 $ - $ 48,660.61 $ 48,660.61
Total $ 1,977,625.75 $ 2,521,306.13 $ 451,125.00
EXHIBIT E
INSURANCE REQUIREMENTS
Without limiting Consultant’s indemnification of the City, and prior to commencement of the Work, Consultant shall obtain, provide, and maintain at its own expense during the term of this Agreement, policies of insurance of the type and amounts described below and in a form satisfactory to the City. If Consultant maintains higher limits than the minimum limits shown below, the City requires and shall be entitled to coverage for the higher limits maintained by the Consultant. Any available insurance proceeds in excess of the specified minimum limits of insurance and coverage shall be available to the City.
Commercial General Liability Insurance. Consultant shall procure and maintain commercial general liability insurance (“CGL Coverage”) with coverage at least as broad as Insurance Services Office form CG 00 01, in an amount not less than One Million Dollars ($1,000,000.00) per occurrence, Two Million Dollars ($2,000,000.00) general aggregate, for bodily injury, personal injury, and property damage. The policy must include contractual liability that has not been amended. Any endorsement restricting standard ISO “insured contract” language will not be accepted.
Automobile Liability Insurance. Consultant shall procure and maintain automobile liability insurance at least as broad as Insurance Services Office form CA 00 01 covering bodily injury and property damage for all activities of the Consultant arising out of or in connection with Work to be performed under this Agreement, including coverage for any owned, hired, non-owned or rented vehicles, in an amount not less than One Million Dollars ($1,000,000.00) per accident for bodily injury and property damage.
Professional Liability (Errors & Omissions) Insurance. For the full term of this Agreement and for a period of three (3) years thereafter, Consultant shall procure and maintain professional liability insurance appropriate to Consultant’s profession, including but not limited to the area of professional technology liability coverage. Such coverage shall have the minimum limits of no less than Two Million Dollars ($2,000,000.00) per claim and in the aggregate. Any policy inception date, continuity date, or retroactive date must be before the effective date of this Agreement and Consultant agrees to maintain continuous coverage through a period no less than three (3) years after completion of the Work required by this Agreement.
Cyber Security. Cyber Security coverage shall be obtained by Consultant to include technology/professional liability insurance, intellectual property infringement, and data protection liability insurance. Consultant shall procure and maintain coverage for cyber liabilities and financial loss resulting or arising from acts, errors, or omissions, in connection with data maintenance, hosting, software development and other information technology services provided under this agreement. Coverage shall include protection for liability arising from: intellectual property infringement arising out of software and/or content (excluding patent infringement and misappropriation of trade secrets); breaches of security; violation or infringement of any right, privacy, breach of federal, state, or foreign security and/or privacy laws or regulations including; data theft, damage, destruction, or corruption, including without limitation, unauthorized access, unauthorized use, identity theft, theft of personally identifiable information or confidential corporate information, transmission of a computer virus or other type of malicious code; and participation in a denial of service attack on a third party. The minimum limits shall be Three Million Dollars ($3,000,000) for each and every claim and in the aggregate.
Workers’ Compensation Insurance. Consultant shall procure and maintain Workers’ Compensation Insurance (Statutory Limits) and Employer’s Liability Insurance (with limits of at least $1,000,000 per accident for bodily injury or disease) which will indemnify, insure and provide legal defense for both Consultant and City against any loss, claim or damage arising from any injuries or occupational diseases occurring to any worker employed by or any persons retained by Consultant in the course of carrying out the Work contemplated in this Agreement.
Umbrella or Excess Liability Insurance. Consultant shall obtain and maintain an umbrella or excess liability insurance policy with limits that will provide bodily injury, personal injury and property damage liability coverage at least as broad as the primary coverages set forth above, including commercial general liability, automobile liability, and employer’s liability. Such policy or policies shall include the following terms and conditions:
● A drop-down feature requiring the policy to respond if any primary insurance that would otherwise have applied proves to be uncollectible in whole or in part for any reason;
● Pay on behalf of wording as opposed to reimbursement; ● Concurrency of effective dates with primary policies; ● Policies shall “follow form” to the underlying primary policies; and ● Insureds under primary policies shall also be insureds under the umbrella or excess policies.
Other provisions or requirements
Proof of insurance. Consultant shall provide certificates of insurance to the City as evidence of the insurance coverage required herein, along with a waiver of subrogation endorsement for workers’ compensation. Insurance certificates and endorsements must be approved by the City’s Risk Manager prior to commencement of performance. Current certification of insurance shall be kept on file with the City at all times during the term of this Agreement. The City reserves the right to require complete, certified copies of all required insurance policies at any time.
Duration of coverage. Consultant shall procure and maintain for the duration of the Agreement insurance against claims for injuries to persons or damages to property, which may arise from or in connection with the performance of the Work hereunder by Consultant, or Consultant’s agents, representatives, employees or subconsultants.
Primary/Noncontributing. Coverage provided by Consultant shall be primary and any insurance or self-insurance procured or maintained by the City shall not be required to contribute with it. The limits of insurance required herein 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 non-contributory basis for the benefit of the City before the City’s own insurance or self-insurance shall be called upon to protect it as a named insured.
The City’s Rights of Enforcement. In the event any policy of insurance required under this Agreement does not comply with these specifications or is canceled and not replaced, the City has the right but not the duty to obtain the insurance it deems necessary, and any premium paid by the City will be promptly reimbursed by Consultant or the City will withhold amounts sufficient to pay premium from Consultant payments. In the alternative, the City may immediately terminate this Agreement.
Acceptable Insurers. All insurance policies shall be issued by an insurance company currently authorized by the Insurance Commissioner to transact business of insurance or is on the List of Approved Surplus Line Insurers in the State of California, with an assigned policyholders’ Rating of A- (or higher) and Financial Size Category Class VI (or larger) in accordance with the latest edition of Best’s Key Rating Guide, unless otherwise approved by the City’s Risk Manager.
Waiver of Subrogation. All insurance coverage maintained or procured pursuant to this Agreement shall be endorsed to waive subrogation against the City, its elected or appointed officers, agents, officials, employees, and volunteers or shall specifically allow Consultant or others providing insurance evidence in compliance with these specifications to waive their right of recovery prior to a loss. Consultant hereby waives its own right of subrogation against the City, its elected or appointed officers, agents, officials, employees, and volunteers, and shall require similar written express waivers and insurance clauses from each of its subconsultants.
Enforcement of Agreement Provisions (Non Estoppel). Consultant acknowledges and agrees that any actual or alleged failure on the part of the City to inform Consultant of non-compliance with any requirement imposes no additional obligations on the City nor does it waive any rights hereunder.
Requirements Not Limiting. Requirements of specific coverage features or limits contained in this Agreement are not intended as a limitation on coverage, limits or other requirements, or a waiver of any coverage normally provided by any insurance. Specific reference to a given coverage feature is for purposes of clarification only as it pertains to a given issue and is not intended by any party or insured to be all inclusive, or to the exclusion of other coverage, or a waiver of any type.
Notice of Cancellation. Consultant agrees to oblige its insurance agent or broker and insurers to provide to the City with a thirty (30) day notice of cancellation (except for nonpayment for which a ten (10) day notice is required) or nonrenewal of coverage for each required coverage.
Additional Insured Status. General liability policies shall provide or be endorsed to provide that the City and its officers, officials, employees, agents, and volunteers shall be additional insureds under such policies. This provision shall also apply to any excess/umbrella liability policies.
Prohibition of Undisclosed Coverage Limitations. None of the coverages required herein will be in compliance with these requirements if they include any limiting endorsement of any kind that has not been first submitted to the City and approved of in writing.
Separation of Insureds. A severability of interests provision must apply for all additional insureds ensuring that Consultant’s insurance shall apply separately to each insured against whom claim is made or suit is brought, except with respect to the insurer’s limits of liability. The policy(ies) shall not contain any cross-liability exclusions.
Pass Through Clause. Consultant agrees to ensure that its subconsultants, subcontractors, and any other party involved with the Work who is brought onto or involved in the Work by Consultant, provide the same minimum insurance coverage and endorsements required of Consultant. Consultant agrees to monitor and review all such coverage and assumes all responsibility for ensuring that such coverage is provided in conformity with the requirements of this section. Consultant agrees that upon request, all agreements with consultants, subconsultants, and others engaged in the Work will be submitted to the City for review.
The City’s Right to Revise Specifications. The City reserves the right at any time during the term of the Agreement to change the amounts and types of insurance required by giving Consultant ninety (90) days advance written notice of such change. If such change results in substantial additional cost to Consultant, City and Consultant may renegotiate Consultant’s compensation or come to some other agreement to address the additional cost.
Self-Insured Retentions. Any self-insured retentions must be declared to and approved by the City. The City reserves the right to require that self-insured retentions be eliminated, lowered, or replaced by a deductible. Self-insurance will not be considered to comply with these specifications unless approved by the City. Consultant agrees to be solely responsible for any self-insured retentions or deductibles it may maintain. It does not agree to limiting or changing same unless otherwise agreed to in writing by the Parties.
Timely Notice of Claims. Consultant shall give the City prompt and timely notice of claims made or suits instituted that arise out of or result from Consultant’s performance under this Agreement, and that involve or may involve coverage under any of the required liability policies.
Additional Insurance. Consultant shall also procure and maintain, at its own cost and expense, any additional kinds of insurance, which in its own judgment may be necessary for its proper protection and prosecution of the Work.
Failure to Maintain Coverage. In the event any policy of insurance required under this Agreement does not comply with these specifications or is canceled and not replaced immediately so as to avoid a lapse in the required coverage, City has the right but not the duty to obtain the insurance it deems necessary, and any premium paid by City will be promptly reimbursed by Consultant or City will withhold amounts sufficient to pay premium from Consultant payments. In the alternative, City may cancel this Agreement effective upon notice.
FOR ITEM NO. 13, PLEASE SEE ITEM NO. 19
ITEM # 14
CITY OF SANTA FE SPRINGS
PUBLIC FINANCING AUTHORITY AGENDA STAFF REPORT
TO: Honorable Mayor and City Council Members
FROM: René Bobadilla, P.E., City Manager
BY: Lana Dich, Director of Finance & Administrative Services SUBJECT: MONTHLY REPORT ON THE STATUS OF DEBT INSTRUMENTS
ISSUED THROUGH THE CITY OF SANTA FE SPRINGS PUBLIC
FINANCING AUTHORITY (PFA)
DATE: November 12, 2024
RECOMMENDATION(S):
It is recommended that the City Council:
1) Receive and file the report.
FISCAL IMPACT
None.
BACKGROUND/DISCUSSION
The Santa Fe Springs Public Financing Authority (PFA) is a City entity that has periodically issued debt for the benefit of the Santa Fe Springs community. The following is a brief status report on the debt instruments currently outstanding that were issued through the PFA.
Consolidated Redevelopment Project 2006-A Tax Allocation Bonds Financing proceeds available for appropriation at 10/31/2024 None Outstanding principal at 10/31/2024 $25,205,601
Bond Repayment
The former Community Development Commission (CDC) issued a number of tax allocation bonds before it was dissolved by State law effective February 1, 2012 which are administered by the City acting as Successor Agency under the oversight of the appointed Oversight Board. The Successor Agency no longer receives tax increment.
CITY COUNCIL AGENDA REPORT – MEETING OF NOVEMBER 12, 2024 Monthly Report on the Status of Debt Instruments Issued through the City of Santa Fe Springs Public Financing Authority (PFA)
Instead, distributions from the Redevelopment Property Tax Trust Fund (RPTTF) are received based on approved obligations. It is anticipated that sufficient allocations from the RPTTF will continue to be made to the Successor Agency to meet ongoing debt service obligations.
Unspent Bond Proceeds
Under an approved Bond Expenditure Agreement, unspent bond proceeds of the former CDC in the amount of approximately $19 million were transferred to the City in July 2014.
The funds are to be spent in accordance with the original bond documents. The unspent proceeds continue to be a source of funding within the City’s capital improvement program (CIP).
2016 Bond Refunding
In July 2016, the Successor Agency issued its 2016 Tax Allocation Refunding Bonds, which paid off several bond issuances of the former CDC. The bonds were originally issued through the Public Financing Authority and included the 2001 Series A, 2002 Series A, 2003 Series A, the current interest portion of the 2006 Series A, and 2006 Series B bond issuances.
2017 Bond Refunding
In December 2017, the Successor Agency issued its 2017 Tax Allocation Refunding Bonds, which paid off the 2007 Tax Allocation Bonds of the former CDC. The 2007 Bonds were originally issued through the Public Financing Authority.
ANALYSIS
The report is presented for informational purposes only.
ENVIRONMENTAL
N/A
SUMMARY/NEXT STEPS
The Successor Agency will continue to request sufficient distributions from the RPTTF to make required bond payments through maturity on September 1, 2028.
ATTACHMENT(S):
None.
CITY COUNCIL AGENDA REPORT – MEETING OF NOVEMBER 12, 2024 Monthly Report on the Status of Debt Instruments Issued through the City of Santa Fe Springs Public Financing Authority (PFA)
ITEM STATUS:
APPROVED:
DENIED:
TABLED:
DIRECTION GIVEN:
FOR ITEM NO. 15, PLEASE SEE ITEM NO. 19
ITEM # 16
CITY OF SANTA FE SPRINGS
WATER UTILITY AUTHORITY AGENDA STAFF REPORT
TO: Honorable Mayor and City Council Members
FROM: René Bobadilla, P.E., City Manager
BY: Lana Dich, Director of Finance
SUBJECT: MONTHLY REPORT ON THE STATUS OF DEBT INSTRUMENTS
ISSUED THROUGH THE CITY OF SANTA FE SPRINGS WATER UTILITY
AUTHORITY (WUA)
DATE: November 12, 2024
RECOMMENDATION(S):
It is recommended that the City Council:
1) Receive and file the report.
FISCAL IMPACT
None.
BACKGROUND/DISCUSSION
The Santa Fe Springs Water Utility Authority (WUA) is a City entity that has issued debt for the benefit of the Santa Fe Springs community. The following is a brief status report on the debt instruments currently outstanding that were issued through the WUA.
Water Revenue Bonds, 2013
Financing proceeds available for appropriation at 10/31/2024 None Outstanding principal at 10/31/2024 $6,890,000
Water Revenue Bonds, 2018
Financing proceeds available for appropriation at 10/31/2024 None Outstanding principal at 10/31/2024 $395,000
In May 2013 the Water Utility Authority issued the 2013 Water Revenue Bonds in the amount of $6,890,000. The bonds refunded the existing 2003 Water Revenue Bonds CITY COUNCIL AGENDA REPORT – MEETING OF NOVEMBER 12, 2024 Monthly Report on the Status of Debt Instruments Issued through the City of Santa Fe Springs Water Utility Authority (WUA)
ITEM STATUS:
APPROVED:
DENIED:
TABLED:
DIRECTION GIVEN:
(issued through the Public Financing Authority) and provided additional funds for water improvement projects in the amount of $2,134,339. The funds were restricted for use on water system improvements. In August 2013 the Water Utility Authority Board appropriated the proceeds for the Equipping Water Well No. 12 Project and all proceeds were since used on this project.
In January 2018 the Water Utility Authority issued the 2018 Water Revenue Bonds in the amount of $1,800,000. The bonds refunded the existing 2005 Water Revenue Bonds (issued through the Public Financing Authority). No additional funds were raised through the issuance of the 2018 Water Revenue Bonds.
The WUA was formed in June of 2009. Water revenue bonds issued prior to this date were issued through the City of Santa Fe Springs Public Financing Authority.
ANALYSIS
The report is presented for informational purposes only.
ENVIRONMENTAL
N/A
SUMMARY/NEXT STEPS
The WUA budget includes sufficient appropriations and adequate revenues are expected to be collected to meet the debt service obligations associated with the 2013 and 2018 Water Revenue Bonds.
ATTACHMENT(S):
None.
FOR ITEM NO. 17, PLEASE SEE ITEM NO. 19
FOR ITEM NO. 18, PLEASE SEE ITEM NO. 19
ITEM # 19
CITY OF SANTA FE SPRINGS
CITY COUNCIL AGENDA STAFF REPORT
TO: Honorable Mayor and City Council Members
FROM: René Bobadilla, P.E., City Manager
BY: Fernando N. Muñoz, CMC, Acting City Clerk
SUBJECT: MINUTES OF THE OCTOBER 1, 9, AND 15, 2024 SPECIAL AND
REGULAR CITY COUNCIL MEETINGS
DATE: November 12, 2024
RECOMMENDATION(S):
It is recommended that the City Council:
1) Approve the minutes as submitted.
FISCAL IMPACT
N/A
BACKGROUND
Staff has prepared minutes for the following meeting:
Council Meeting of October 1, 2024.
Special Council Meeting of October 9, 2024.
Council Meeting of October 15, 2024.
ANALYSIS
N/A
ENVIRONMENTAL
N/A
DISCUSSION
CITY COUNCIL AGENDA REPORT – MEETING OF NOVEMBER 12, 2024 Minutes of the Regular and Special Council Meetings Page 2 of 2 N/A
SUMMARY/NEXT STEPS
N/A
ATTACHMENT(S):
A. October 1, 2024 Meeting Minutes
B. October 9, 2024 Special Meeting Minutes
C. October 15, 2024 Meeting Minutes
ITEM STATUS:
APPROVED:
DENIED:
TABLED:
DIRECTION GIVEN:
APPROVED:
MINUTES OF THE MEETINGS OF THE
CITY COUNCIL
October 1, 2024
CALL TO ORDER
Mayor Sarno called the meeting to order at 5:02 p.m.
ROLL CALL
Members present: Councilmembers/Directors: Martin, Rodriguez, Zamora, Mayor Pro Tem/Vice Chair Rounds, and Mayor/Chair Sarno.
Members absent: None
PUBLIC COMMENTS ON CLOSED SESSION: None
1. CLOSED SESSION
CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Pursuant to Government Code Section 54956.8)
Property: APNs: 8177-029-908, 8177-029-903, 8177-029-905, 8177-031-018, 8177- 031-019, and 8177-029-005
Agency negotiator: René Bobadilla, City Manager and Cuong Nguyen, Director of Community Development
Negotiation parties: Kenneth G. Spiker, Spiker Rendon Consulting, Inc.
Under negotiation: Price and terms of payment as relates to interests in real property.
City Attorney, Rick Olivarez announced that there are two (2) additional walk on items for closed session consideration pursuant to Government Code Section 54954.2(b2).
CLOSED SESSION
CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Pursuant to Government Code Section 54956.8)
Property: Assessor’s Parcel Nos. 8009-023-900 (10900 Pioneer Blvd, Santa Fe Springs, CA 90670)
Agency negotiator: René Bobadilla, City Manager
Negotiation parties: En Fuego Baseball
Under negotiation: Price and Terms
CLOSED SESSION
CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Pursuant to Government Code Section 54956.8)
Property: Assessor’s Parcel Nos. 8008-010-907 (10400 Orr & Day Rd, Santa Fe Springs, CA 90670)
Agency negotiator: René Bobadilla, City Manager
Negotiation parties: Whittier Union High School District Under negotiation: Price and Terms
Minutes of the October 1, 2024 Housing Successor, Successor Agency, and City Council Meetings
It was moved by Councilmember Martin, seconded by Councilmember Rodriguez, to approve adding the additional two closed session items for consideration, which carried unanimously.
Mayor Sarno recessed the meeting at 5:03 p.m.
Mayor Sarno reconvened the meeting at 5:59 p.m.
CLOSED SESSION REPORT
City Attorney Olivarez provided a closed session report: Direction was given to staff and no reportable action was taken.
INVOCATION
Cindy Jarvis led the invocation.
PLEDGE OF ALLEGIANCE
Avani Belmont from Lakeview Elementary led the pledge of allegiance.
INTRODUCTIONS
Mayor Sarno introduced the following members from the Chamber of Commerce:
1. Kathie Fink from Santa Fe Springs Chamber of Commerce
2. Debbie Wade from Tepeyac Restaurant & Tequila Sports Bar
3. Ken Stewart and Edward Jones are joining via YouTube
PRESENTATIONS
Mayor Sarno announced that Item No. 2 on the agenda would be tabled until the next council meeting.
3. PROCLAMATION – BREAST CANCER AWARENESS MONTH, “PAINT THE TOWN PINK” (COMMUNITY SERVICES)
4. PROCLAMATION – NATIONAL WALK TO SCHOOL DAY (COMMUNITY SERVICES)
5. PROCLAMATION – FIRE PREVENTION WEEK (FIRE)
6. OMEGA OPERABLE UNIT (PUBLIC WORKS)
7. RECAP OF 2024 RELAY FOR LIFE (PARKS & RECREATION)
CHANGES TO AGENDA
There were no changes.
PUBLIC COMMENTS
The following persons spoke during public comments: 1) Michaele Peterson, 2) Lisa Luna, 3) Charles Leone, and 4) Lee Squire.
STAFF COMMUNICATIONS ON ITEMS OF COMMUNITY INTEREST
None
Minutes of the October 1, 2024 Housing Successor, Successor Agency, and City Council Meetings
CONSENT CALENDAR
All matters listed under the Consent Calendar are considered to be routine. Any items a Councilmember wishes to discuss should be designated at this time. All other items may be approved in a single motion.
Such approval will also waive the reading of any ordinance.
HOUSING SUCCESSOR
8. MINUTES OF THE SEPTEMBER 3, 2024 HOUSING SUCCESSOR MEETINGS (CITY CLERK)
RECOMMENDATION: It is recommended that the Housing Successor:
1) Approve the minutes as submitted.
SUCCESSOR AGENCY
9. MINUTES OF THE SEPTEMBER 3, 2024 SUCCESSOR AGENCY MEETINGS (CITY CLERK)
RECOMMENDATION: It is recommended that the Successor Agency:
1) Approve the minutes as submitted.
CITY COUNCIL
10. MINUTES OF THE SEPTEMBER 3, 2024 CITY COUNCIL MEETINGS (CITY CLERK) RECOMMENDATION: It is recommended that the City Council:
1) Approve the minutes as submitted.
11. RESOLUTION NO. 9931 – UPDATING THE LIST OF DESIGNATED EMPLOYEES
REQUIRED TO FILE A CONFLICT OF INTEREST FORM (CITY CLERK) RECOMMENDATION: It is recommended that the City Council:
1) Adopt Resolution No. 9931:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS RESCINDING RESOLUTION NO. 9821 AND ADOPTING AN UPDATED CONFLICT
OF INTEREST CODE, APPLICABLE TO DESIGNATED POSITIONS FOR THE CITY,
SUCCESSOR AGENCY, PUBLIC FINANCING AUTHORITY, HOUSING
SUCCESSOR, AND WATER UTILITY AUTHORITY
12. ORDINANCE NO. 1146 – TO AMEND SECTIONS 155.003 (DEFINITIONS), 155.519 (INTERSTATE 605 CORRIDOR ELECTRONIC BILLBOARD SIGN PROGRAM), 155.526 (COMPREHENSIVE SIGN PROGRAM REQUIREMENT FOR UNIFIED DEVELOPMENTS), 155.527 (WINDOW DISPLAYS), 155.536 (SIGN GUIDELINES), AND ADD SECTION 155.537 (STATIC POSTER BILLBOARD CONVERSION PROGRAM) WITHIN TITLE 15 (LAND USE), CHAPTER 155 (ZONING), OF THE Minutes of the October 1, 2024 Housing Successor, Successor Agency, and City Council Meetings
SANTA FE SPRINGS MUNICIPAL CODE AND DETERMINATION THAT THE
PROJECT IS EXEMPT FROM CEQA (COMMUNITY DEVELOPMENT)
RECOMMENDATION: It is recommended that the City Council:
1) Find and determine that the Ordinance is exempt from the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines Section 15061(b)(3); and 2) Waive further reading and introduce Ordinance No. 1146 by title, amending Chapter 155 (Zoning) of Title 15 (Land Use) of the Santa Fe Springs Municipal Code; and 3) Take such additional, related action that may be desirable.
13. EXCLUSIVE NEGOTIATING AGREEMENT (“ENA”) WITH PRIMESTOR
DEVELOPMENT, LLC FOR THE DEVELOPMENT OF AN AFFORDABLE HOUSING
AND MIXED-USE PROJECT ON CITY-OWNED PROPERTY (COMMUNITY
DEVELOPMENT)
RECOMMENDATION: It is recommended that the City Council:
1) Adopt Resolution No. 9930 to authorize the City Manager to execute an Exclusive Negotiating Agreement (“ENA”) with Primestor Development, LLC; and 2) Take such additional, related, action that may be desirable.
14. AUTHORIZE THE PURCHASE OF VEHICLE MOBILE RADIOS, MOBILE DATA
COMPUTERS (MDCS), VEHICLE READERS AND TRANSPONDERS, AND FITNESS
EQUIPMENT FOR THE SANTA FE SPRINGS POLICING TEAM (POLICE SERVICES) RECOMMENDATION: It is recommended that the City Council:
1) Authorize the Director of Police Services to issue purchase orders to facilitate the procurement of Mobile Data Computers (MDCs) from CDCE Incorporated in an amount not to exceed $31,343, Vehicle Mobile Radios from Motorola Solutions in an amount not to exceed $56,250, Vehicle Readers and Transponders from JMG Security Systems, INC. in an amount not to exceed $23,250 and Fitness Equipment from Extreme Training Equipment in an amount not to exceed $12,698. 2) Approve the expenditure of United States Department of the Treasury Asset Forfeiture Program-Equitable Sharing Funds in an amount not to exceed $123,541.
15. POLICE SERVICES STAGING FACILITY STORM DAMAGE – EMERGENCY
REPAIRS UPDATE (PUBLIC WORKS)
RECOMMENDATION: It is recommended that the City Council:
1) Pursuant to Santa Fe Springs Municipal Code Section 34.23 and California Public Contract Code Section 22050, by a four-fifths vote authorize continuing the repairs without competitive bidding; and
Minutes of the October 1, 2024 Housing Successor, Successor Agency, and City Council Meetings
2) Take such additional, related, action that may be desirable.
16. RESIDENTIAL ALLEY IMPROVEMENTS – FINAL PAYMENT (PUBLIC WORKS) RECOMMENDATION: It is recommended that the City Council:
1) Approve the Final Payment to R.J. Noble Company of Orange, California for $592,079.85 (Less 5% Retention); and
2) Approve the final contract amount with R.J. Noble Company in the amount of $2,029,863.35; and
3) Take such additional, related action that may be desirable.
17. HERITAGE PARK NATIVE AMERICAN POND IMPROVEMENT – AWARD OF
CONTRACT (PUBLIC WORKS)
RECOMMENDATION: It is recommended that the City Council:
1) Award a construction contract to Zeco, Inc., of Anaheim, California in the amount of $164,039.25 for the construction of the Heritage Park Native American Pond Improvement Project and authorize the City Manager to execute the agreement; and 2) Appropriate $100,750 from the Utility Users Tax (UUT) Fund to the Heritage Park Native American Pond Improvement Project (Account No. PW200101); and 3) Take such additional, related action that may be desirable.
18. RESIDENTIAL STREET IMPROVEMENTS 2024-2025 – AUTHORIZATION TO
ADVERTISE FOR CONSTRUCTION BIDS (PUBLIC WORKS)
RECOMMENDATION: It is recommended that the City Council:
1) Approve adding the Residential Street Improvements 2024-2025 project to the Capital Improvement Plan; and
2) Appropriate Local Return Funds in the following dollar amounts: Prop C $1,199,321.68, TDA $41,035.00, Gas Tax $712,000.00, Measure R $1,753,894.00, Measure M $1,654,009.00; and
3) Appropriate $1,200,000.00 from the Residential Street Lighting Systems Upgrade Project (Account PW220010) to the proposed Residential Street Improvements 2024- 2025 Project; and
4) Appropriate $680,000 from the Utility Users Tax (UUT) Capital Improvements Fund to the Residential Street Improvements 2024-2025 project; and 5) Approve the Plans and Specifications for the subject project; and 6) Authorize the City Engineer to advertise for construction bids; and Minutes of the October 1, 2024 Housing Successor, Successor Agency, and City Council Meetings
7) Authorize the City Clerk to file a Notice of Exemption for the subject project with the Los Angeles Registrar-Recorder; and
8) Take such additional, related action that may be desirable.
It was moved by Councilmember Zamora, seconded by Councilmember Martin, to approve the consent calendar, by the following vote:
Ayes: Martin, Rodriguez, Zamora, Rounds, Sarno
Noes: None
Absent: None
Recuse: None
APPOINTMENTS TO BOARDS, COMMITTEES, AND COMMISSIONS
None
COUNCIL COMMENTS/AB1234 COUNCIL CONFERENCE REPORTING
Councilmember Martin expressed her support for SEAACA employees. She also spoke about the Relay for Life and Paint the Town Pink events. Lastly, she promoted Walk to School Day and Coffee with a Cop.
Councilmember Rodriguez spoke about the Relay for Life event and thanked CJ Construction for their generous donation.
Councilmember Zamora talked about the Relay for Life event and thanked the armed services for all of their work and dedication. Lastly, he commented on the Quartermania event.
Mayor Pro Tem Rounds thanked everyone for attending the meeting and promoted the upcoming events.
Mayor Sarno introduced Rick Olivarez, the new city attorney and thanked the SEAACA attendees for speaking out.
ADJOURNMENT
Mayor Sarno adjourned the meeting in memory of Inocencio Hernandez at 7:01 p.m. _____________________
Jay Sarno
Mayor
ATTEST:
_____________________
Fernando N. Muñoz Date
Acting City Clerk
APPROVED:
MINUTES OF THE SPECIAL MEETINGS OF THE
CITY COUNCIL
October 9, 2024
CALL TO ORDER
Mayor Sarno called the meeting to order at 11:48 a.m.
ROLL CALL
Members present: Councilmembers Martin, Rodriguez, Zamora, Mayor Pro Tem Rounds, and Mayor Sarno.
Members absent: None
CITY COUNCIL
PRESENTATIONS
1. STATE OF THE CITY
PUBLIC COMMENTS
There was no one wishing to speak during public comments.
ADJOUNRMENT
Mayor Sarno adjourned the meeting at 1:46 p.m.
_____________________
Jay Sarno
Mayor
ATTEST:
_____________________
Fernando N. Muñoz Date
Deputy City Clerk
APPROVED:
MINUTES OF THE REGULAR MEETINGS OF THE
CITY COUNCIL
October 15, 2024
CALL TO ORDER
Mayor Sarno called the meeting to order at 5:01 p.m.
ROLL CALL
Members present: Councilmembers/Directors: Martin, Rodriguez, Zamora, Mayor Pro Tem/Vice Chair Rounds, and Mayor/Chair Sarno.
MEMBERS ABSENT: None
PUBLIC COMMENTS ON CLOSED SESSION: None
CITY COUNCIL
1. CLOSED SESSION
THREAT TO PUBLIC SERVICES OR FACILITIES
(Pursuant to Government Code Section 54957)
Consultation with: René Bobadilla, City Manager
2. CLOSED SESSION
CONFERENCE REGARDING REAL PROPERTY NEGOTIATIONS
(Pursuant to Government Code Section 54956.8)
Property: Santa Fe Springs Athletic Field and Lake Center Athletic Park Agency Negotiators: René Bobadilla, City Manager and Gus Hernandez, Director of Parks and Recreation
Negotiation Parties: Alex Corral, En Fuego Kids
Under Negotiation: Terms Related to the Use of the Property
3. CLOSED SESSION
CONFERENCE REGARDING REAL PROPERTY NEGOTIATIONS
(Pursuant to Government Code Section 54956.8)
Property: Little Lake Park
Agency Negotiators: René Bobadilla, City Manager and Gus Hernandez, Director of Parks and Recreation
Negotiation Parties: Alex Corral, En Fuego Kids
Under Negotiation: Potential Lease of the Property
4. CLOSED SESSION
CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Pursuant to Government Code Section 54956.8)
Property: Assessor’s Parcel Nos. 8008-023-900 and 8008-023-901 Minutes of the October 15, 2024 Public Financing Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings
Agency negotiator: René Bobadilla, City Manager and Cuong Nguyen, Director of Community Development
Negotiation parties: Any interested developers of affordable housing Under negotiation: Price and terms of payment as relates to interests in real property
5. CLOSED SESSION
CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Pursuant to Government Code Section 54956.8)
Property: APNs: 8011-002-901, -902, -903, and 8011-003-955 to -979 (MC&C IV) Agency negotiator: René Bobadilla, City Manager and Cuong Nguyen, Director of Community Development
Negotiation parties: City Ventures LLC; EBS Realty Partners LLC and Penwood Real Estate Investment Management.
Under negotiation: Price and terms of payment as relates to interests in real property
SUCCESSOR AGENCY
6. CLOSED SESSION
CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Pursuant to Government Code Section 54956.8)
Property: APNs: 8011-018-900, -901, -902, -903, -904, -905, -906, AND 8011-019-911 (MC&C III)
Agency negotiator: René Bobadilla, City Manager and Cuong Nguyen, Director of Community Development
Negotiation parties: AD Improvements; City Ventures LLC; Under negotiation: Price and terms of payment as relates to interests in real property Mayor Sarno recessed the meeting at 5:03 p.m.
Mayor Sarno reconvened the meeting at 6:08 p.m.
CLOSED SESSION REPORT
City Attorney, Rick Olivarez provided a closed session report: With respect to Item No. 1, Council received a briefing from City Manager. With respect to Item Nos 2 – 6, direction was given to staff, and no reportable action was taken.
INVOCATION
Mayor Pro Tem Rounds led the invocation.
PLEDGE OF ALLEGIANCE
Members of the Youth Leadership Committee led the pledge of allegiance.
INTRODUCTIONS
Mayor Sarno introduced the following representatives from the Chamber of Commerce:
1. Mark Gutierrez – GILMAR Automotive Group
2. Kathie Fink – Santa Fe Springs Chamber of Commerce CEO Minutes of the October 15, 2024 Public Financing Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings
PRESENTATIONS
7. “BEST OF SFS” (COMMUNITY SERVICES)
8. STATE OF THE CITY SPONSOR RECOGNITION (COMMUNITY SERVICES)
9. PROCLAMATION – RED RIBBON WEEK (PARKS & RECREATION)
10. UPDATE FROM THE WHOLE CHILD/THE RICHMAN GROUP
(COMMUNITY DEVELOPMENT)
CHANGES TO AGENDA
None
PUBLIC COMMENTS
The following people spoke during public comments: 1) Jorge Morales, 2) AJ Hayes, 3) Irma Huitron, and 4) Ixtlana Bernal
STAFF COMMUNICATIONS ON ITEMS OF COMMUNITY INTEREST
Director of Parks & Recreation, Gus Hernandez provided a brief presentation on the following items: 1) Fiestas Patrias de Octubre on September 19 and 20, 2) Halloween Carnival on October 26, and 3) Veterans Day Ceremony on November 11. Senior Planner, Vince Velasco also provided a brief presentation on upcoming businesses.
PUBLIC FINANCING AUTHORITY, WATER UTILITY AUTHORITY, HOUSING
SUCCESSOR, SUCCESSOR AGENCY, AND CITY COUNCIL
OLD BUSINESS
11. APPROVAL OF FACILITY USE AGREEMENT WITH EN FUEGO KIDS FOR ATHLETIC
FIELDS AND FACILITY IMPROVEMENTS (PARKS & RECREATION)
RECOMMENDATION: It is recommended that the City Council:
1) Approve the attached Facility Use Agreement between the City of Santa Fe Springs and En Fuego Kids, allowing En Fuego Kids to use and make significant improvements to the athletic fields and facilities at Lake Center Athletic Park, and Santa Fe Springs Athletic Fields; and
2) Directs the City Attorney to make clarifying changes necessary to effectuate the intent of the Agreement; and
3) Take such additional, related action that may be desirable.
It was moved by Councilmember Martin, seconded by Mayor Pro Tem Rounds, to approve the attached Facility Use Agreement between the City of Santa Fe Springs and En Fuego Kids, allowing En Fuego Kids to use and make significant improvements to the athletic fields and facilities at Lake Center Athletic Park, and Santa Fe Springs Athletic Fields, direct the City Attorney to make clarifying Minutes of the October 15, 2024 Public Financing Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings
changes necessary to effectuate the intent of the Agreement, and take such additional, related action that may be desirable, by the following vote:
Ayes: Martin, Rodriguez, Zamora, Rounds, Sarno
Nayes: None
Absent: None
Recused: None
REGULAR BUSINESS
12. REPLACEMENT OPTIONS FOR THE SANTA FE SPRINGS ORANGE MURAL (BOX
CAR) AT HERITAGE PARK (COMMUNITY SERVICES)
RECOMMENDATION: It is recommended that the City Council:
1) Select a replacement option for the Santa Fe Springs Oranges Art Mural; and 2) Take such additional, related action that may be desirable.
Community Services Manager, Ed Ramirez provided a brief presentation on Item No. 12.
He reminded Council that there are maintenance costs associated with whatever option is selected. Council deliberated and gave direction to staff to do an art contest with students and to bring the item back at a subsequent meeting.
It was moved by Councilmember Zamora, seconded by Councilmember Rodriguez, to bring back the item at a subsequent meeting with Council’s recommendations, by the following vote:
Ayes: Martin, Rodriguez, Zamora, Rounds, Sarno
Nayes: None
Absent: None
Recused: None
CONSENT CALENDAR
All matters listed under the Consent Calendar are considered to be routine. Any items a Councilmember wishes to discuss should be designated at this time. All other items may be approved in a single motion.
Such approval will also waive the reading of any ordinance.
PUBLIC FINANCING AUTHORITY
13. MINUTES OF THE SEPTEMBER 17, 2024 PUBLIC FINANCING AUTHORITY
MEETINGS (CITY CLERK)
RECOMMENDATION: It is recommended that the Public Financing Authority:
1) Approve the minutes as submitted.
14. MONTHLY REPORT ON THE STATUS OF DEBT INSTRUMENTS ISSUED THROUGH
THE CITY OF SANTA FE SPRINGS PUBLIC FINANCING AUTHORITY (PFA) (FINANCE)
RECOMMENDATION: It is recommended that the Public Financing Authority:
Minutes of the October 15, 2024 Public Financing Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings
1) Receive and file the report.
WATER UTILITY AUTHORITY
15. MINUTES OF THE SEPTEMBER 17, 2024 WATER UTILITY AUTHORITY MEETINGS (CITY CLERK)
RECOMMENDATION: It is recommended that the Water Utility Authority:
1) Approve the minutes as submitted.
16. MONTHLY REPORT ON THE STATUS OF DEBT INSTRUMENTS ISSUED THROUGH
THE CITY OF SANTA FE SPRINGS WATER UTILITY AUTHORITY (WUA) (FINANCE) RECOMMENDATION: It is recommended that the Water Utility Authority:
1) Receive and file the report.
HOUSING SUCCESSOR
17. MINUTES OF THE SEPTEMBER 17, 2024 HOUSING SUCCESSOR MEETINGS (CITY CLERK)
RECOMMENDATION: It is recommended that the Housing Successor:
1) Approve the minutes as submitted.
SUCCESSOR AGENCY
18. MINUTES OF THE SEPTEMBER 17, 2024 SUCCESSOR AGENCY MEETINGS (CITY CLERK)
RECOMMENDATION: It is recommended that the Successor Agency:
1) Approve the minutes as submitted.
CITY COUNCIL
19. MINUTES OF THE SEPTEMBER 17, 2024 CITY COUNCIL MEETINGS (CITY CLERK) RECOMMENDATION: It is recommended that the City Council:
1) Approve the minutes as submitted.
20. APPOINTMENT OF REPRESENTATIVE TO THE GREATER LOS ANGELES COUNTY
VECTOR CONTROL DISTRICT BOARD OF TRUSTEES (CITY CLERK)
Minutes of the October 15, 2024 Public Financing Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings
RECOMMENDATION: It is recommended that the City Council:
1) Appoint Mayor Pro Tem Rounds as the Santa Fe Springs representative to the Board of Trustees of the Greater Los Angeles County Vector Control District for a term of 4 years beginning in January 2025.
21. RESOLUTION NO. 9932 – DESIGNATING THE CITY OF SANTA FE SPRINGS AS A
PURPLE HEART CITY (PARKS & RECREATION)
RECOMMENDATION: It is recommended that the City Council:
1) Adopt the attached resolution designating the City of Santa Fe Springs as a Purple Heart City, in recognition of the sacrifices made by members of the U.S. Armed Forces who have been wounded or killed in action while serving their country; and 2) Take such additional, related, action that may be desirable.
22. SECOND READING OF ORDINANCE NO. 1146 – TO AMEND SECTIONS 155.003 (DEFINITIONS), 155.519 (INTERSTATE 605 CORRIDOR ELECTRONIC BILLBOARD SIGN PROGRAM), 155.526 (COMPREHENSIVE SIGN PROGRAM REQUIREMENT FOR UNIFIED DEVELOPMENTS), 155.527 (WINDOW DISPLAYS), 155.536 (SIGN GUIDELINES), AND ADD SECTION 155.537 (STATIC POSTER BILLBOARD CONVERSION PROGRAM) WITHIN TITLE 15 (LAND USE), CHAPTER 155 (ZONING),
OF THE SANTA FE SPRINGS MUNICIPAL CODE (COMMUNITY DEVELOPMENT) RECOMMENDATION: It is recommended that the City Council:
1) Adopt Ordinance No. 1146:
AN ORDINANCE OF THE CITY OF SANTA FE SPRINGS AMENDING SECTIONS 155.003 (DEFINITIONS), 155.519 (INTERSTATE 605 CORRIDOR ELECTRONIC BILLBOARD SIGN PROGRAM), 155.526 (COMPREHENSIVE SIGN PROGRAM REQUIREMENT FOR UNIFIED DEVELOPMENTS), 155.527 (WINDOW
DISPLAYS), 155.536 (SIGN GUIDELINES), AND ADD SECTION 155.537 (STATIC POSTER BILLBOARD CONVERSION PROGRAM) WITHIN TITLE 15 (LAND USE), CHAPTER 155 (ZONING), OF THE SANTA FE SPRINGS MUNICIPAL CODE. 2) Take such additional, related action that may be desirable.
23. APPROVAL OF ARTWORK FOR DAVE’S HOT CHICKEN RESTAURANT (COMMUNITY SERVICES)
RECOMMENDATION: It is recommended that the City Council:
1) Approve Artwork for the Dave’s Hot Chicken Restaurant; and 2) Take such additional, related, action that may be desirable.
Minutes of the October 15, 2024 Public Financing Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings
24. APPROVE PROFESSIONAL SERVICES AGREEMENTS FOR PRINTING, GRAPHIC
DESIGN, AND MAILING SERVICES (FINANCE)
RECOMMENDATION: It is recommended that the City Council:
1) Approve a three (3) year agreement with Advantage Mailing (Advantage) in the amount of $50,000 annually (total amount shall not exceed $150,000); and 2) Approve a three (3) year agreement with DDWerks (DDWerks) in the amount of $80,000 annually (total amount shall not exceed $240,000); and 3) Approve a three (3) year agreement with Inkovation Inc.(Inkovation) in the amount of $80,000 annually (total amount shall not exceed $240,000); and 4) Approve a three (3) year agreement with Intergraphics Company (Intergraphics) in the amount of $80,000 annually (total amount shall not exceed $240,000); and 5) Approve a three (3) year agreement with Simpson Advertising (Simpson) in the amount of $50,000 annually (total amount shall not exceed $150,000); and 6) Authorize the City Manager to exercise the one (1) year extension option of each agreement, if needed; and
7) Take any additional related action necessary.
25. MEASURE R FUNDING AGREEMENT WITH LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY – AMENDMENT NO. 2 TO AGREEMENT MR315.42 (PUBLIC WORKS)
RECOMMENDATION: It is recommended that the City Council:
1) Approve Amendment No. 2 for Measure R Funding Agreement MR315.42 for Florence Avenue Widening Project, from Orr and Day to Pioneer Boulevard; and 2) Authorize the City Manager to execute Amendment No. 2; and 3) Take such additional, related, action that may be desirable.
26. MEASURE R FUNDING AGREEMENT WITH LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY – AMENDMENT NO. 4 TO AGREEMENT MR315.40 (PUBLIC WORKS)
RECOMMENDATION: It is recommended that the City Council:
1) Approve Amendment No. 4 for Measure R Funding Agreement MR 315.40 for the Valley View Avenue and Rosecrans Avenue Intersection; and Minutes of the October 15, 2024 Public Financing Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings
2) Authorize the City Manager to execute Amendment No. 4; and 3) Take such additional, related, action that may be desirable.
27. TOWN CENTER HALL PAINTING AND FLOORING PROJECT (PUBLIC WORKS) RECOMMENDATION: It is recommended that the City Council:
1) Approve adding the Town Center Hall Painting and Flooring project to the Capital Improvement Program; and
2) Appropriate $175,000 from the Utility Users Tax (UUT) Capital Improvements Fund to the Town Center Hall Painting and Flooring Project; and 3) Authorize the City Engineer to advertise for construction bids; and 4) Take such additional, related action that may be desirable.
It was moved by Councilmember Rodriguez, seconded by Councilmember Zamora, to approve the consent calendar, by the following vote:
Ayes: Martin, Rodriguez, Zamora, Rounds, Sarno
Nayes: None
Absent: None
Recused: None
APPOINTMENTS TO BOARDS, COMMITTEES, AND COMMISSIONS
None
COUNCIL COMMENTS/AB1234 COUNCIL CONFERENCE REPORTING
Councilmember Zamora said it was nice to see people in attendance and commented on the time frame for construction on the Melia Homes project.
Councilmember Martin spoke about attending the JPIA conference which touched on topics that do not affect the City specifically. She spoke about the Lantern Tours at Heritage Park and about the State of the City event. Lastly, she commended Whittier Police Department and wished everyone a Happy Halloween.
Councilmember Rodriguez talked about State of the City event and commended library staff for the great offerings. She looked forward to the Red Ribbon Parade. She wished everyone in attendance a Happy Halloween.
Mayor Pro Tem Rounds commented on The Whole Child Project and looked forward to its completion. Looked forward to the Red Ribbon Parade and asked staff to look at updating the tree policy.
Mayor Sarno also talked about bringing back an ordinance to only permit work during certain hours at a future meeting. He talked about the State of the City event and commended Lee Squire and the Fire Department for their recent open house.
Minutes of the October 15, 2024 Public Financing Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings
ADJOURNMENT
Mayor Sarno adjourned the meeting at 8:00 p.m. to November 12, 2024. _____________________
Jay Sarno
Mayor
ATTEST:
_____________________
Fernando N. Muñoz Date
Deputy City Clerk
ITEM # 20
CITY OF SANTA FE SPRINGS
CITY COUNCIL AGENDA STAFF REPORT
TO: Honorable Mayor and City Council Members
FROM: René Bobadilla, P.E., City Manager
BY: Fernando N. Muñoz, Acting City Clerk
SUBJECT: RESOLUTION NO. 9938 – ESTABLISHING A CITY COUNCIL MEETING SCHEDULE FOR CALENDAR YEAR 2025
DATE: November 12, 2024
RECOMMENDATION(S):
It is recommended that the City Council:
1) Adopt Resolution No. 9938:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE
SPRINGS ESTABLISHING A CITY COUNCIL MEETING SCHEDULE THROUGH CALENDAR YEAR 2025.
2) Take such additional, related, action that may be desirable.
FISCAL IMPACT
N/A
BACKGROUND
Government Code section 36805 provides that the City Council shall hold regular meetings at least once a month at times fixed by resolution or ordinance. The attached resolution sets forth a City Council meeting schedule proposed by City staff, including dates and the start times of meetings (5:00 p.m. for any closed sessions; 6:00 p.m. for open sessions). Adoption of this resolution will help City staff plan for City Council meetings through 2025 and provide transparency to the public.
CITY COUNCIL AGENDA REPORT – MEETING OF NOVEMBER 12, 2024 Resolution No. 9938 Establishing a City Council Meeting Schedule
ENVIRONMENTAL
N/A
SUMMARY/NEXT STEPS
Adoption of Resolution No. 9938 will allow City staff to plan for meetings and provide public transparency.
ATTACHMENT(S):
A. Resolution No. 9938
ITEM STATUS:
APPROVED:
DENIED:
TABLED:
DIRECTION GIVEN:
APPROVED:
ITEM NO.:
1 RESOLUTION NO. 9938
RESOLUTION NO. 9938
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE
SPRINGS ESTABLISHING A CITY COUNCIL MEETING SCHEDULE
THROUGH CALENDAR YEAR 2025
WHEREAS, Government Code section 36805 provides that the City Council shall hold regular meetings at least once a month and allows for the fixing of those times by resolution; and
WHEREAS, the City Council adopted Ordinance No. 1139 amending Section 30.15 of the Code of Santa Fe Springs to provide that the times for City Council meetings shall be set by resolution.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS RESOLVES AS FOLLOWS:
Section 1. The dates for regular City Council meetings through calendar year 2025 shall be as follows:
January 14, 2025
January 21, 2025
February 4, 2025
February 18, 2025
March 4, 2025
March 18, 2025
April 1, 2025
April 15, 2025
May 6, 2025
May 20, 2025
June 3, 2025
June 17, 2025
July 1, 2025
August 19, 2025
September 2, 2025
September 16, 2025
October 7, 2025
October 21, 2025
November 4, 2025
December 2, 2025
Section 2. Nothing herein shall preclude the City Council from holding an adjourned regular meeting, special meeting, or emergency meeting pursuant to APPROVED:
ITEM NO.:
2 RESOLUTION NO. 9938
state law. Nothing herein shall preclude the City Clerk from canceling a regular meeting, adjourned regular meeting, or special meeting should there not be a quorum present at such meeting.
Section 3. The time of regular meetings of the City Council shall be as follows:
A. If there is a closed session or study session scheduled on the agenda, the regular meeting shall be scheduled to start at 5:00 p.m. and open session shall start at 6:00 p.m.
B. If there is no closed session or study session scheduled on the agenda, the regular meeting shall be scheduled to start at 6:00 p.m.
APPROVED AND ADOPTED on this 11th day of November 2024 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Jay Sarno, Mayor
ATTEST:
Fernando Muñoz, Deputy City Clerk
ITEM # 21
CITY OF SANTA FE SPRINGS
CITY COUNCIL AGENDA STAFF REPORT
TO: Honorable Mayor and City Council Members
FROM: René Bobadilla, P.E., City Manager
BY: Fernando N. Muñoz, Acting City Clerk
SUBJECT: PROPOSED ORDINANCE AMENDMENTS TO CITY COMMISSIONS AND COMMITTEES - AMENDING SECTIONS 32.33, 32.34, AND 32.36 OF CHAPTER 32 OF TITLE III, AND SECTION 38.45 OF CHAPTER 38
OF TITLE III OF THE CODE OF SANTA FE SPRINGS
DATE: November 12, 2024
RECOMMENDATION(S):
It is recommended that the City Council:
1) Approve the first reading of, and approve the ordinance amending Sections 32.33,
32.34, and 32.36 of Chapter 32 (Commissions and Committees) of Title III, and Section 38.45 of Chapter 38 (City Policies) of Title III of the Santa Fe Springs Municipal Code; and
2) Waive all further readings of this ordinance; and
3) Direct the City Attorney to make clarifying changes necessary to effectuate the intent of the ordinance change; and
4) Take such additional, related action that may be desirable.
FISCAL IMPACT
There is no direct fiscal impact anticipated with these amendments. Indirectly, the reduction in meeting frequency may lead to cost savings related to staff time, meeting materials, and administrative overhead.
BACKGROUND
The City of Santa Fe Springs relies on various advisory committees to support city initiatives, provide recommendations, and foster public engagement. To align these CITY COUNCIL AGENDA REPORT – MEETING OF NOVEMBER 12, 2024
ITEM STATUS:
APPROVED:
DENIED:
TABLED:
DIRECTION GIVEN:
bodies with the City's mission, values, and resource allocation, an evaluation of the current attendance policy and meeting frequency has been conducted. These amendments aim to offer greater flexibility for advisory committee members while optimizing the effectiveness of meetings.
ANALYSIS
The proposed ordinance amendment addresses one primary area: attendance flexibility.
The amendment increases the number of allowable absences for commission and committee members from three (3) to four (4) per calendar year. This change provides greater flexibility for members who may face occasional scheduling conflicts due to personal or professional obligations, while still maintaining their commitment to their roles.
By adjusting the attendance policy, the City acknowledges the demands on members’ time and promotes sustained engagement without penalizing minor, unavoidable absences.
ENVIRONMENTAL
N/A
DISCUSSION
The proposed amendment to the ordinance aims to improve the efficiency and flexibility of City commissions and committees by increasing the allowed absences from three to four per calendar year. By allowing members up to four absences, the City acknowledges the demands on members’ time, promoting sustained engagement without rigid penalization for minor scheduling conflicts. These changes align with the City’s mission to maximize operational efficiency, improve resource allocation, and maintain a balanced, productive approach to community engagement.
SUMMARY/NEXT STEPS
Upon adoption, update commission and committee policies to reflect the new attendance and meeting frequency guidelines, and communicate these changes to all members.
Additionally, these changes will become effective with the appointments of new terms in January 2025.
ATTACHMENT(S):
A. Ordinance No. 1151
ORDINANCE NO. 1151
AN ORDINANCE OF THE CITY OF SANTA FE SPRINGS AMENDING SECTIONS
32.33, 32.34, AND 32.36 OF CHAPTER 32 (COMMISSIONS AND COMMITTEES) OF TITLE III, AND SECTION 38.45 OF CHAPTER 38 (CITY POLICIES) OF TITLE III OF
THE CODE OF SANTA FE SPRINGS RELATING TO CITY COMMISSIONS AND
COMMITTEES
THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS DOES HEREBY ORDAIN AS FOLLOWS:
SECTION 1. Section 32.33 (Appointments) of Chapter 32 of Title III of the Code of Santa Fe Springs is hereby amended as follows:
§ 32.33 APPOINTMENTS.
Beginning in 2021, appointments to commissions and committees shall be made in January.
SECTION 2. Section 32.34 (Term) of Chapter 32 of Title III of the Code of Santa Fe Springs is hereby amended as follows:
§ 32.34 TERM.
The term of service for any individual appointed to a commission or committee shall be two years beginning in January. Any individual appointed to fill an unexpired term shall serve for the unexpired portion of that term. All commission and committee members shall continue in office until their successors are appointed.
SECTION 3. Section 32.36 (Absences) of Chapter 32 of Title III of the Code of Santa Fe Springs is hereby amended as follows:
§ 32.36 ABSENCES.
If an individual appointed to a commission or committee that meets on a monthly basis is absent from four meetings within a calendar year, or absent from four consecutive meetings, that individual shall be deemed to have resigned from the commission or committee. If an individual appointed to a commission or committee that meets on a quarterly basis is absent from two meetings within a year, that individual shall be deemed to have resigned from the commission or committee. An individual who has been deemed to have resigned from a commission or committee due to such absences will be eligible to re-apply to serve on that commission or committee no earlier than six months after such resignation.
2 SECTION 4. Section 38.45 (Heritage Arts Advisory Committee; Operations) of Chapter 38 of Title III of the Code of Santa Fe Springs is hereby amended as follows:
A. Subsection (A) of Section 38.45 is amended to read:
(A) The Heritage Arts Advisory Committee (HAAC) is hereby created as a committee appointed by the City Council to advise on the city’s Heritage Artwork in Public Places Program. The HAAC shall consist of a maximum of nine voting and six non-voting members who may be reappointed at the discretion of the City Council and shall include the following unless otherwise directed by the City Council:
(1) A member of the Planning Commission.
(2) A member of the Chamber of Commerce and Industrial League. (3) A member of the Historical and Community Preservation Advisory Committee.
(4) A member of the Family and Human Services Advisory Committee. (5) A member directly appointed by a City Council member, with each City Council member being entitled to one direct appointment. (6) The City Manager or designee, in a nonvoting capacity. (7) The Director of Community Services or designee, in a nonvoting capacity.
(8) The Director of Community Development or designee, in a nonvoting capacity.
SECTION 5. Any provision of the Code of Santa Fe Springs inconsistent with the provisions of this Ordinance, to the extent of such inconsistencies and no further, is hereby repealed or modified to that extent necessary to effect the provisions of this Ordinance.
SECTION 6. If any section, subsection, phrase, or clause of this Ordinance is for any reason held to be unconstitutional, such decision will not affect the validity of the remaining portions of this Ordinance. The City Council hereby declares that it would have passed this Ordinance and each section, subsection, phrase or clause thereof irrespective of the fact that any one or more sections, subsections, phrases, or clauses may be declared unconstitutional.
3 SECTION 7. The City Clerk shall certify to the adoption of this Ordinance, including the vote for and against and shall post a certified copy of this ordinance, within 15 days after its passage to be posted in at least three (3) public places within the City as established by ordinance, and, in compliance with Section 36933 of the Government Code.
___________________________
ATTEST: Jay Sarno, Mayor
_____________________________
Fernando Muñoz, CMC Deputy City Clerk
ITEM # 22
CITY OF SANTA FE SPRINGS
CITY COUNCIL AGENDA STAFF REPORT
TO: Honorable Mayor and City Council Members
FROM: René Bobadilla, P.E., City Manager
BY: Fernando N. Muñoz, Acting City Clerk
SUBJECT: RESOLUTION NOS. 9936 AND 9937 – RESOLUTIONS OF THE SANTA
FE SPRINGS CITY COUNCIL, AMENDING CERTAIN RULES FOR
ADVISORY COMMITTEES
DATE: November 12, 2024
RECOMMENDATION(S):
It is recommended that the City Council:
1) Approve Resolution No. 9936; and
2) Approve Resolution No. 9937; and
3) Take such additional, related action that may be desirable.
FISCAL IMPACT
There is no direct fiscal impact anticipated with these amendments. Indirectly, the reduction in meeting frequency may lead to cost savings related to staff time, meeting materials, and administrative overhead.
BACKGROUND
The City of Santa Fe Springs relies on various advisory committees to support city initiatives, provide recommendations, and foster public engagement. To align these bodies with the City's mission, values, and resource allocation, an evaluation of the current attendance policy and meeting frequency has been conducted. These amendments aim to offer greater flexibility for advisory committee members while optimizing the effectiveness of meetings.
CITY COUNCIL AGENDA REPORT – MEETING OF NOVEMBER 12, 2024
ANALYSIS
The suggested amendments in Resolution No. 9936 reduce the required number of meetings per year for commissions and committees, and also reduce the roster size of certain committees. These amendments enable each body to meet only as necessary to fulfill their duties effectively. These reductions are intended to streamline city operations, allowing for efficient use of resources and alignment with the City’s mission. Fewer, more focused meetings are anticipated to enhance the impact and productivity of each group’s deliberations. Additionally, reducing the roster size makes it easier to establish quorum and reduces the likelihood of scheduling conflicts.
Collectively, these changes support the City’s goals of optimizing operational efficiency, improving resource allocation, and maintaining purposeful engagement across commissions and committees.
Resolution No. 9937 moves the appointment date from January to July to coincide with the start of the academic year for the Youth Leadership Committee.
ENVIRONMENTAL
N/A.
DISCUSSION
The amendments reduce the required number of meetings per year for commissions and committees, enabling each body to meet only as necessary to fulfill their duties effectively.
This reduction is intended to streamline city operations, allowing for efficient use of resources and alignment with the City’s mission. Fewer, more focused meetings are anticipated to enhance the impact and productivity of each group’s deliberations.
Collectively, these changes support the City’s goals of optimizing operational efficiency, improving resource allocation, and maintaining purposeful engagement across commissions and committees.
SUMMARY/NEXT STEPS
Upon adoption, update commission and committee policies to reflect the new attendance and meeting frequency guidelines, and communicate these changes to all members.
Additionally, these changes will become effective with the appointments of new terms in January 2025
CITY COUNCIL AGENDA REPORT – MEETING OF NOVEMBER 12, 2024
ATTACHMENT(S):
A. Resolution No. 9936
B. Resolution No. 9937
ITEM STATUS:
APPROVED:
DENIED:
TABLED:
DIRECTION GIVEN:
APPROVED:
ITEM NO.:
1 RESOLUTION NO. 9936
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS,
CALIFORNIA AFFIRMING CERTAIN EXISTING ADVISORY COMMITTEES, SETTING
RULES FOR ADVISORY COMMITTEES, AND UPDATING PREVIOUS COMMITTEE
BY-LAWS
THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council affirms the establishment of the following advisory committees to the City Council and sets forth the following provisions for each:
CITY OF SANTA FE SPRINGS FAMILY AND HUMAN SERVICES ADVISORY
COMMITTEE
Purpose: The purpose of this Committee shall be to advise the City Council on human services needs that exist in the community and work with City staff on improving and developing social services programs. The purpose is also to evaluate existing services/programs and make recommendations as needed to improve services.
Membership: This Committee shall be comprised of no more than fifteen (15) members appointed by the City Council from a cross-section of eligible persons. Each City Council member shall have up to three (3) direct appointments.
Meeting Schedule: This Committee shall meet on a monthly basis as business requires.
CITY OF SANTA FE SPRINGS PARKS & RECREATION ADVISORY COMMITTEE Purpose: The purpose of this Committee shall be:
To advise the City Council on the types of programs that would best meet the recreational needs of the people of all ages and interests. To provide more public participation in policy making as to parks and recreation programs and services, and facility/park operations.
To evaluate the effectiveness of recreation programs and park facilities. To assist in policy formation regarding conservation, nature, open spaces, and cultural development.
To provide cultural and educational events and activities, both with City facilities and other establishments (e.g., trips, concerts, plays, historical events, art shows).
Membership: This Committee shall be comprised of no more than twenty (20) members 2 appointed by the City Council from a cross section of the various segments of the community. Each City Council Member shall have up to four (4) direct appointments.
Seventeen of the members must be residents of the City.
Meeting Schedule: This Committee shall meet as business requires, except in the months of January, April, July, August, September, and December.
CITY OF SANTA FE SPRINGS SENIOR ADVISORY COMMITTEE
Purpose: The purpose of this Committee shall be to advise, plan, and conduct projects that will foster mutual understanding between the senior population of the City and the City Council in order to improve the well-being of the seniors in the City and the community at large.
Membership: The Committee shall be comprised of no more than twenty (20) members appointed by the City Council. Members must be 50 years of age or older. Each City Council Member shall have up to five (5) direct appointments.
Meeting Schedule: This Committee shall meet on a monthly basis as business requires, except in the months of January, April, July, August, September, and December.
CITY OF SANTA FE SPRINGS YOUTH LEADERSHIP COMMITTEE
Purpose: The purpose of this Committee shall be to foster greater involvement of youth in the community and in municipal government. The Committee shall study problems, activities, and concerns of the youth population, especially as they relate to municipal programs or projects of the City and make recommendations to the City Council as needed.
Membership: The committee shall be comprised of no more than fifteen (15) members appointed by the City Council from a cross section of youth residing in or attending school in the City. Each City Council member shall have up to three (3) direct appointments.
Committee members must be between the ages of 13 and 18 years of age during their terms. No more than two (2) immediate family members may participate on the Committee during any appointed term.
Meeting Schedule: This Committee shall meet on a monthly basis as business requires, except in the months of January, April, July, September, and December.
CITY OF SANTA FE SPRINGS HISTORICAL AND COMMUNITY PRESERVATION
ADVISORY COMMITTEE
Purpose: The purpose of this Committee shall be to serve the historical community and preservation needs of the community as follows:
3 (A) Historical:
To collect factual data on the Native American, European and Spanish-Mexican history and culture as it is woven together into the fabric of Santa Fe Springs’ daily life.
To share these resources with the schools and citizens in order to supplement any curriculum that may need historical data concerning the Santa Fe Springs area. To chronicle and display the diverse cultural influences and impacts on the City and its population.
(B) Preservation:
To prepare suggestions for policy determination by the City Council concerning preservation and beautification in the City.
To recommend programs it deems advisable for recognizing individuals, groups, organizations, or companies that have improved or are working toward beautifying their homes, businesses, industries, property or area.
To make recommendations for educational programs concerning City beautification to be conducted in the schools, service clubs, PTA groups, and other community organizations.
Membership: This Committee shall be comprised of no more than fifteen (15) members appointed by the City Council from a cross-section of eligible persons. Each City Council member shall have up to three (3) direct appointments.
Meeting Schedule: This Committee shall meet on a monthly basis as business requires, except in the months of January, April, July, August, September, and December.
SECTION 2. The following rules shall govern all advisory committees of the City, whether established by ordinance or resolution:
A. All committees shall comply with the Ralph M. Brown Act (Government Code §§ 54950 et seq.).
B. All committees serve as advisory bodies to the City Council. The jurisdiction of each committee is limited to the purpose and duties set forth herein. Unless otherwise granted by the City Council, no committee shall have the power or authority to commit City funds.
C. In January of each year, or the first meeting of each calendar year, each committee shall appoint a chairperson and a vice-chairperson to serve for a one-year period.
The chairperson shall preside at committee meetings and represent the committee at various functions. The vice-chairperson shall assume the chairperson’s duties in the absence of the chairperson.
D. In the absence of both the chairperson and vice-chairperson at a meeting, the 4 voting members of the committee shall select amongst themselves an acting chairperson for that meeting.
E. Each committee may propose changes to its meeting schedule or governing rules, subject to approval by the City Council.
F. Each committee member shall be entitled to one vote, except for emeritus members.
G. The City Council may appoint any number of emeritus members to any committee.
An emeritus member shall serve as a non-voting member of the committee.
H. Each committee shall have a secretary, who shall be a member of City staff assigned that function. The duties of the secretary shall include: 1) preparing minutes for each meeting; 2) keeping an accurate record of attendance and notifying the City Clerk of absences that violate the City’s code; 3) providing staff assistance as required for the conduct of the committee’s business; and 4) acting as the principal staff advisor to the committee.
I. Each committee shall report to the City Council as requested by the City Council.
J. Each committee may establish one or more temporary subcommittees if deemed necessary or beneficial by that committee, so long as a subcommittee is composed solely of less than a quorum of the committee, serves a single or limited purpose, and is not perpetual. Such subcommittee will be deemed dissolved once its purpose is completed.
SECTION 3. This Resolution repeals and supersedes Resolution No. 9661 previously adopted by the City Council.
APPROVED and ADOPTED this 12th day of November, 2024 by the following roll call vote:
_____________________________
Jay Sarno, Mayor
ATTEST:
__________________________
Fernando N. Muñoz, CMC, Deputy City Clerk
APPROVED:
ITEM NO.:
1 RESOLUTION NO. 9937
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS,
CALIFORNIA SETTING RULES FOR THE YOUTH LEADERSHIP COMMITTEE WHEREAS, the City Council previously adopted Resolution No. 9936 affirming the establishment of advisory committees to the City Council, including the Youth Leadership Committee, and setting forth rules governing all commissions and committees; and WHEREAS, the City Council desires to amend certain rules for the Youth Leadership Committee to better align with the school schedule.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The following rules shall govern the Youth Leadership Committee:
A. The members of the Youth Leadership Committee shall be appointed by the City Council in July of each year.
B. In August of each year, the Youth Leadership Committee shall appoint a chairperson, vice-chairperson, treasurer, and secretary to serve for a one-year period. The chairperson shall preside at committee meetings and represent the committee at various functions. The vice-chairperson shall assume the chairperson’s duties in the absence of the chairperson.
SECTION 2. Except as otherwise specified in this Resolution, Resolution No. 9936 previously adopted by the City Council shall continue to apply to all commissions and committees, including the Youth Leadership Committee.
APPROVED and ADOPTED this 12th day of November, 2024.
AYES:
NOES:
ABSENT:
ABSTAIN:
_____________________________
Jay Sarno, Mayor
ATTEST:
__________________________
Fernando N. Muñoz, CMC, Deputy City Clerk
Attachment 2
ITEM # 23
CITY OF SANTA FE SPRINGS
CITY COUNCIL AGENDA STAFF REPORT
TO: Honorable Mayor and City Council Members
FROM: René Bobadilla, P.E., City Manager
BY: Lana Dich, Director of Finance and Administrative Services
SUBJECT: TREASURER’S REPORT OF INVESTMENTS FOR THE QUARTER ENDED SEPTEMBER 30, 2024
DATE: November 12, 2024
RECOMMENDATION(S):
It is recommended that the City Council:
1) Receive and file the report.
FISCAL IMPACT
Investment earnings for the quarter ended September 2024 amounted to $1,855,826.
BACKGROUND/DISCUSSION
Beginning January 2016, the City retained PFM Asset Management LLC (“PFMAM”) to manage $20.8 million of the City’s reserve funds (“managed portfolio”).
Based on a cash flow analysis and discussion with PFMAM and the City Council Audit Subcommittee, an additional $10.0 million of the City’s reserve funds were added to the portfolio in May 2017, and $35.0 million in January 2023 bringing the total principal invested to $65.8 million.
At the end of each calendar quarter, PFMAM provides a detailed written report covering general market conditions as well as the balances and transactions of the City’s portfolio for the previous quarter. PFMAM’s detailed report is attached to this Treasurer’s Report.
Mr. Richard Babbe, Senior Management Consultant with PFMAM, along with his staff, have also regularly provided an update, including a detailed review of the results of the CITY COUNCIL AGENDA REPORT – MEETING OF November 12, 2024 Treasurer’s Report of Investments for the Quarter Ended September 30, 2024
portfolio for the quarter, a discussion of the investment strategies and policies which govern the City’s portfolio, and general market conditions.
ANALYSIS
The City’s managed portfolio generated interest income in the amount of $441,682 for the most recent quarter. The interest income represents actual cash receipts received by the City, plus the amortization of any discounts or premiums, as well as realized gains and losses. The figure does not include unrealized gains or losses (i.e. changes in market value).
The overall performance of the City’s managed portfolio account is expressed in a “yield” and “total return”. The yield is a forward-looking measurement which shows the income and dividends on the investments to be expected in the future based on current holdings, expressed as an annual rate of return. The City’s yield (at cost value) at September 30, 2024 was 4.28%, increase from 4.18% the previous quarter.
Total return on the other hand, is a backward-looking measurement focused on not only interest earned, but also realized and unrealized gains/losses. Realized gains/losses result from selling a security at a price higher or lower than was actually paid to purchase it. Unrealized gains/losses result from market value increases and decreases in security values for securities which are still held in the portfolio.
Of particular importance to the City’s portfolio is the inverse relationship between yield and market value. In general, when yields go up, market values go down, and vice versa.
For example, if the City is holding a bond which pays 1.0% and the market yield increases to 1.1% the market value of the City’s 1.0% security will decline so that an investor purchasing the security would pay a price below face value which would cause the security to yield 1.1% even though it only pays 1.0%. If held until maturity, the security would pay the full face value along with the 1.0% stated interest throughout the term. In other words, “unrealized” gains/losses are not “realized” unless the security is actually sold prior to maturity.
The yield at June 30, 2016 was 1.25% and rose to 4.28% as of September 30, 2024. This has resulted in unrealized losses, however, it is important to point out that the investments continue to pay the stated interest on the security. The unrealized losses simply represent the amount that the City would lose, if the security was sold in the current market conditions. It is not an actual loss of the City’s principal value invested. It is also important to remember that rising yield markets are good in the sense that as securities mature, they are replaced with higher rate securities, increasing the overall interest income of the portfolio.
Because the total return (as opposed to the yield) takes into account realized and unrealized gains/losses, it is generally compared against a target benchmark to evaluate CITY COUNCIL AGENDA REPORT – MEETING OF November 12, 2024 Treasurer’s Report of Investments for the Quarter Ended September 30, 2024
portfolio performance. The City’s benchmark is the 1-5 Year U.S. Treasury Index. The total return for the City’s portfolio for the quarter ended June 30, 2024 was 0.89% vs. the benchmark’s total return of 0.82%; the City’s portfolio outperformed the benchmark by
0.07%. Since inception of the managed portfolio (January 2016) the total return for the City’s portfolio was 1.38% vs. the benchmark total return of 1.03% through June 30, 2024.
Due to a system glitch with PFMAM, the benchmark information for the quarter ending September 2024 is currently unavailable.
Aside from the PFMAM managed portfolio, the City’s other investments are the Local Agency Investment Fund (“LAIF”), a pooled investment fund managed by the California State Treasurer; the California Asset Management Program (“CAMP”), a pooled investment fund managed by PFMAM; and the First American Treasury Obligations Fund, a U.S. Treasury money market fund (“MMF”) used by the City’s bond trustee. LAIF returned an annualized rate of 4.71% for the quarter while CAMP returned 5.08% and the MMF returned 4.76%. Interest earnings for the quarter amounted to $465,004, $788,576, and $160,564, respectively, for the LAIF, CAMP, and the MMF accounts.
ENVIRONMENTAL
None.
SUMMARY/NEXT STEPS
The attached Treasurer’s Report contains all investments under the control of the City.
The investments, at market value, are summarized as follows:
Pooled Cash and Investments $ 120.7 million
Successor Agency Bond Fund 19.4 million
Bonds Reserves and Debt Service 13.8 million
Total Investments $ 153.9 million
Pooled cash and investments consist of the PFMAM managed account, LAIF, and CAMP.
The Successor Agency bond funds are held in LAIF and are the source of funds for ongoing capital improvement projects. Spending on multiple capital projects has occurred and these funds will be drawn down for deposit into the City’s pooled cash and investments.
The bond reserves and debt service funds consist of the MMF accounts held, as required, by the City’s third party trustee, U.S. Bank. These funds are held for debt service payments and reserves for bond issuances of the Water Utility Authority, the Successor Agency, and the Heritage Springs Assessment District.
CITY COUNCIL AGENDA REPORT – MEETING OF November 12, 2024 Treasurer’s Report of Investments for the Quarter Ended September 30, 2024
The investments, at market value, are summarized by type as follows:
PFMAM Managed Portfolio $ 73.1 million
LAIF 24.6 million
CAMP (including TERM CAMP) 42.4 million
MMF 13.8 million
Total Investments $153.9 million
PFMAM and Staff will continue to work with the City Council to review any proposed changes to the portfolio make-up.
ATTACHMENT(S):
A. Treasurer’s Report of Investments (Quarter Ended September 30, 2024) B. PFMAM Investment Performance Review (Quarter Ended September 30, 2024) ITEM STATUS:
APPROVED:
DENIED:
TABLED:
DIRECTION GIVEN:
QUARTERLY
BEGINNING DEPOSITS/ WITHDRAWALS/ ENDING MARKET INVESTMENT ANNUAL
DESCRIPTION BALANCE PURCHASES SALES BALANCE VALUE EARNING YIELD POOLED INVESTMENTS:
PFM MANAGED PORTFOLIO (1) $ 71,468,586.05 $ 8,739,412.89 $ 7,288,742.94 $ 72,919,256.00 $ 73,103,408.63 $ 441,682.32 4.28% CALIFORNIA ASSET MANAGEMENT PROGRAM 58,785,917.33 21,743,264.47 38,110,176.44 42,419,005.36 42,419,005.36 788,575.67 5.08% LOCAL AGENCY INVESTMENT FUND 5,212,554.89 58,813.10 - 5,271,367.99 5,240,748.02 58,813.10 4.71% SUBTOTAL POOLED INVESTMENTS 135,467,058.27 30,541,490.46 45,398,919.38 120,609,629.35 120,763,162.01 1,289,071.09 SUCCESSOR AGENCY BOND FUNDS (2):
LOCAL AGENCY INVESTMENT FUND 19,276,348.15 231,176.29 - 19,507,524.44 19,394,210.44 406,191.05 4.71% SUCCESSOR AGENCY FUNDS:
LOCAL AGENCY INVESTMENT FUND 0.96 - - 0.96 0.95 - 4.71% INVESTMENTS HELD BY FISCAL AGENT (3):
U.S. BANK CORPORATE TRUST MONEY MARKET FUNDS:
First American Treasury Obligations Fund Class D:
City of Santa Fe Springs 574,740.00 4,566.82 - 579,306.82 579,306.82 6,890.35 4.71% Successor Agency 12,604,583.43 429,789.92 - 13,034,373.35 13,034,373.35 151,573.79 4.71% Heritage Springs Assessment District 175,647.21 2,208.49 - 177,855.70 177,855.70 2,099.95 4.71% Subtotal First American Treasury Obligations Fund Class D 13,354,970.64 436,565.23 - 13,791,535.87 13,791,535.87 160,564.09 SUBTOTAL INVESTMENTS HELD BY FISCAL AGENT (U.S. BANK) 13,354,970.64 436,565.23 - 13,791,535.87 13,791,535.87 160,564.09 TOTAL INVESTMENTS $168,098,378.02 $ 31,209,231.98 $ 45,398,919.38 $ 153,908,690.62 $153,948,909.27 $ 1,855,826.23 Notes:
(1) See attached report prepared by PFM, the City's investment manager, for detailed analysis of the managed portfolio. All information except for the market value is reported on the amortized cost basis. Investment earnings on the amortized cost basis do not include unrealized gains and losses. (2) Unspent bond proceeds of the former redevelopment agency to be used for ongoing capital improvement projects. (3) Fiscal agent accounts are held by U.S. Bank as Trustee for debt service reserves and payment of bond principal and interest.
CERTIFICATION:
The investment transactions are in compliance with the investment policy approved by the City Council.
There is sufficient liquidity within the portfolio to meet all anticipated expenditures for the next six months.
LANA DICH, CITY TREASURER
CITY OF SANTA FE SPRINGS
TREASURER'S REPORT OF INVESTMENTS
QUARTER ENDED SEPTEMBER 30, 2024
0 153.90 0.00
0.00 0 0.00 0 0.00
Buy (8,001,266.62)
Interest 738,146.27
Maturity 70,262.50
Paydowns 332,395.84
Sell 6,886,084.60
25,622.59
1,450,669.95
58,813.10
465,004.15
24,634,958.46 153.90
\
4,566.82
429,789.92
2,208.49
-
/WGZY
Investment Performance Review
For the Quarter Ended September 30, 2024
Client Management Team PFM Asset Management LLC
213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
633 W 5th St., 25th Floor
Los Angeles, CA 90071
949-230-6896
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public City of Santa Fe Springs
Monique Spyke, Managing DirectorJames Sims, CFA, Managing DirectorRichard Babbe, CCM, Senior Managing ConsultantRobert Montoya, Relationship Manager © PFM Asset Management LLC pfmam.com |
Market Update
PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Current Market Themes
▸ The U.S. economy is characterized by:
▹ A labor market that reached better balance and support consumer activity▹ Inflation that has made meaningful progress towards the Federal Reserve’s (Fed) 2% target, although shelter costs remain a headwind
▹ Resilient economic growth and consumer spending that support the ‘soft landing’ scenario ▸ Fed begins the easing cycle
▹ The Fed cut the federal funds target rate by 50 basis points (bps) to 4.75% - 5.00% at its September FOMC meeting
▹ Fed officials note they have gained greater confidence the risks to their dual mandate are “roughly” in balance
▹ The Fed’s September “dot plot” implies 50 bps of additional cuts in 2024 and 100 bps through 2025
▸ Treasury yields continued their descent
▹ Yields on maturities between 3 months and 10 years fell 62-112 bps during the 3rd quarter ▹ The yield curve began to disinvert in the 3rd quarter as the spread between the 2-year and 10-year Treasury reached positive territory for the first time in over 2 years ▹ Despite intra-quarter spread widening, yield spreads across most credit sectors were range bound at tight levels, reflecting the strength of the economy Source: Bloomberg Finance L.P., as of September 30, 2024.
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
1 Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; Bureau of Labor Statistics and Bloomberg Finance L.P., as of August 2024. © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Aug-24
5.2%
Aug-24
2.5%
0%1%
2%3%4
%
5%
6%7%8%9%
10%
Aug-21 Dec-21 Apr-22 Aug-22 Dec-22 Apr-23 Aug-23 Dec-23 Apr-24 Aug-24 Consumer Price Index (CPI)
Top-Line Contributions, Year-over-Year Changes
Shelter CPI Ex-Shelter Headline Shelter YoY% Headline CPI YoY% The shelter
component of
CPI continues to
remain outsized
accounting for
74% of the
increase in the
headline figure
Shelter Inflation increased
5.2% while CPI Ex-Shelter
increased 1.0% (YoY)
Fed Chair Powell: “[H]ousing inflation is the … one piece that is kind of dragging a bit … it’s been slower than we expected”
Inflation Trends Lower
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
2 Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; Bureau of Labor Statistics and Bloomberg Finance L.P., as of September 2024. Data is seasonally adjusted.
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Fed Chair Powell: “…labor market conditions have cooled off by any measure … [but] the level of those conditions is actually pretty close to what I would call maximum employment”
Sept-24
254
0 50
100150200250300350400450500
Sep-22 Sep-23 Sep-24
Thousands
Monthly Change In
Nonfarm Payrolls
Nonfarm Payrolls 3-month Moving Average
Sept-24
4.1%
3%4%5%
Sep-22 Sep-23 Sep-24
Unemployment Rate
Labor Market Moves Into Better Balance
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
3 Source: Bloomberg Finance L.P., as of September 2024. © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Sept-2024
6.7%
4%6%
8%
10%12%
14%16%18%
Sep-94 Sep-97 Sep-00 Sep-03 Sep-06 Sep-09 Sep-12 Sep-15 Sep-18 Sep-21 Sep-24 Misery Index
CPI Inflation + Unemployment Rate
Nov-2010
9.8% Unemployment
Oct-2019
Historically Low
Unemployment and
Inflation
Apr-2020
14.8% Unemployment
Jun-2022
9.1% Inflation
The “Misery Index” is a measure of economic distress and is calculated as the sum of CPI and the Unemployment Rate. The Fed’s long-run estimate of full employment at 4 - 5% and an inflation target of 2% would produce a Misery Index reading of 6 - 7%.
2000-2003
Driver: Unemployment creeps
higher and peaks at 6.3% in June
2003
Inflation and Labor Market Conditions Leave the Consumer Well-Positioned City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
4 Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; (Left) Bureau of Economic Analysis and Bloomberg Finance L.P. as of September 2024. (Right) U.S. Census Bureau and Bloomberg Finance L.P., as of August 2024.
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Fed Chair Powell: “…if you look at the growth in economic activity data—the [September] retail sales data [and] second quarter GDP—all of this indicates an economy that is still growing at a solid pace.” $11,000$12,000$13,000$14,000$15,000$16,000$17,000
2008 2010 2012 2014 2016 2018 2020 2022 2024
Billions
U.S. Real Personal Consumption Expenditure
4.4%
3.2%
1.6%
3.0%
2.0%
1.4%
1.8%
0.0%0.5%1.0%1.5%2.0%2.5%3.0%3.5%4.0%4.5%5.0%
Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 2025
U.S. GDP Forecasts
Annualized Rate
Actual Range Median of Forecasts
Personal Consumption
is the main driver of
GDP and accounts for
69% of overall GDP
Pre-pandemic
trend
Consumer Activity Remains Solid
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
5 PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; Average Cutting Cycle represents the average change in the Fed Funds Rate for the first 10 months of a cutting cycle back to 1988. Market Implied Fed Funds as of September 30, 2024. Bloomberg Finance L.P. CPI inflation and Nonfarm payrolls from Bureau of Labor Statistics and Bloomberg Finance L.P.
Fed Chair Powell: “[I]f we’d have gotten the July [jobs] report before the [July FOMC] meeting would we have cut, well we might have.”
0%1%2%3%4%5%6%
2021 2022 2023 2024 2025
Federal Funds Rate
Fed Funds Upper Bound Market Implied Fed Fund Rates Median FOMC Projections Average Cutting Cycle Dec-22
CPI Inflation
6.5% Dec-23 CPI Inflation
3.4%
Aug-24
CPI Inflation
2.5%
Dec-21
CPI Inflation
7.0%
The Fed Begins the Cutting Cycle With 50bps
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
6 Fed’s Updated Summary of Economic Projections
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
Source: Federal Reserve Chair Jerome Powell Press Conference; Federal Reserve. As of September 2024.
For the Quarter Ended September 30, 2024
Market Update
4.4%
3.4%
2.9% 2.9% 2.8%
0%1%
2%3%4
%
5%
6%
2024 2025 2026 2027 Longer
Run
Federal Funds Rate
June Projections Sept Projections
2.3% 2.1% 2.0% 2.0% 2.0%
0%1%
1%2%2%3%
3%4%4%
2024 2025 2026 2027 Longer
Run
PCE Inflation
June Projections Sept Projections
4.4% 4.4% 4.3% 4.2% 4.2%
0%1%2%3%4%5%6%
2024 2025 2026 2027 Longer
Run
Unemployment Rate
June Projections Sept Projections
2.0% 2.0% 2.0% 2.0% 1.8%
0%1%
2%3%4
%
2024 2025 2026 2027 Longer
Run
Change in Real GDP
June Projections Sept Projections
Fed Chair Powell: “These median projections are lower than in June, consistent with projections for lower inflation and higher unemployment, as well as the change to balance of risks.” City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
7 Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; Bloomberg Finance L.P., as of September 30, 2024. © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Fed Chair Powell: “…we’re recalibrating policy down over time to a more neutral level. And we’re moving at the pace that we think is appropriate given developments in the economy… The economy can develop in a way that would cause us to go faster or slower…”
4.76%
3.64%
3.5%4.0%4.5%5.0%
30-Jun 31-Jul 31-Aug 30-Sep
2-Year U.S. Treasury Yield
June 30, 2024 – September 30, 2024
-112 bp
Dovish Fed Press Conference
Weak ISM ManufacturingWeak Payrolls
Fedspeak prior to blackout period
calling for policy easing
Yields Reprice Lower In Anticipation of Fed Cuts
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
8 U.S. Treasury Yields Fall as the Yield Curve Begins to Disinvert PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
Source: Bloomberg Finance L.P., as of September 30, 2024 For the Quarter Ended September 30, 2024
Market Update
4.64%
3.60%
3.53%
3.63%
3.76%
4.10%
3.00%3.50%4.00%4.50%5.00%5.50%6.00%
Yield
Maturity
U.S. Treasury Yield Curve
1 Year RangeSeptember 30, 2024June 30, 2024
3mo 2yr 5yr 7yr 10yr 20yr 30yr
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
9 Sector Yield Spreads
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of September 30, 2024. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.
CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index.
For the Quarter Ended September 30, 2024
Market Update
-0.1%
0.1%0.3%0.5%
Sep-23 Dec-23 Mar-24 Jun-24 Sep-24
Federal Agency Yield Spreads
Bullet Callable
0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Sep-23 Dec-23 Mar-24 Jun-24 Sep-24
Corporate Notes A-AAA Yield Spreads
0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Sep-23 Dec-23 Mar-24 Jun-24 Sep-24
Mortgage-Backed Securities Yield Spreads
Agency MBS Agency CMBS Index
0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Sep-23 Dec-23 Mar-24 Jun-24 Sep-24
Asset-Backed Securities AAA Yield Spreads
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
10 Fixed-Income Index Total Returns in 3Q 2024
1-5 Year Indices
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. As of September 30, 2024.
For the Quarter Ended September 30, 2024
Market Update
3.39%
2.77%
2.58%
3.70% 3.76%
0%1%2%3%4%5%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
Third Quarter 2024 Returns
7.44%
7.04%
7.43%
9.33%
10.15%
0%2%4%6%8%
10%12%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-Year Return
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
11 Factors to Consider for 6-12 Months
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Current outlook Outlook one quarter ago Negative Slightly Negative Neutral Slightly Positive Positive Statements and opinions expressed about the next 6-12 months were developed based on our independent research with information obtained from Bloomberg and FactSet. The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution (6/30/2024) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its accuracy, completeness, or suitability.
Monetary Policy (Global):• The Fed has begun its easing cycle with a 50 basis point (bp) cut. The FOMC’s September median “dotplot” projection suggests an additional 50 bps in ratecuts by the end of the year “if the economy performsas expected”. The projections also calls for anadditional full percentage point of cuts in 2025. • The global easing cycle is underway with nearly all
major central banks (excluding the Bank of Japan)completing multiple rate cuts.
Economic Growth (Global):• U.S. economic growth remains strong reflecting a consumer who continues to spend at elevatedlevels.
• Economic growth outside the U.S. remains mixed.• China has moved forward with a package of stimulus measures aimed to boost growth. Thecountry remains poised to take additional swiftaction should it be deemed necessary.
Inflation (U.S.): • Inflation continues its trend lower but has been buoyed by stubborn housing costs.
• The broad-based inflation cooling helped fuel the
Fed’s decision to cut by 50 bps but policy makersnote they are not declaring victory on price stability.
Financial Conditions (U.S.):• The continuation of stable market measures, such as narrow corporate yield spreads, record equityindex levels and low volatility, reflect economicconfidence. • We remain focused on the cooling labor market and
effects this might have on the consumer as potentialcatalysts for a broader slow down, but that is not ourbase case expectation.
Consumer Spending (U.S.): • The consumer continues to spend and support economic strength. Upward revisions to thepersonal savings rate paint the consumer in betterlight than previously thought but the trend ofconsumers dipping into savings continues. • Moderation in the pace of overall spending is
expected given slowing wage growth and coolinglabor market conditions.
Labor Markets:• The labor market continues to moderate from extremely strong levels seen in prior quarters. Therecent downward revisions to nonfarm payrollsthrough March 2024 further emphasized thecooling. • Other labor metrics remain well positioned such as
the layoffs and discharge rate pointing towardsmoderation rather than deterioration.
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
12 © PFM Asset Management LLC pfmam.com |
Portfolio Review
© PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Snapshot
|
Total market value includes accrued interest and balances invested in CAMP, as of September 30, 2024.Yield and duration calculations exclude balances invested in CAMP.The portfolio’s benchmark is the ICE BofA 1-5 Year U.S. Treasury Index. Source: Bloomberg Financial LP.
An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.
1. Credit Quality - S&P Duration Distribution
U.S. Treasury | 39%Corporate | 23%
Agency CMBS | 18%ABS | 16%
Negotiable CD | 2%Municipal | 1%Supranational | <1%Joint Powers Authority | <1% Sector Allocation
AAA | 12%AAAm | <1%AA+ | 57%AA | 1%AA- | 3%A+ | 8%A | 7%A- | 4% BBB+ | 1%Not Rated | 5%
Portfolio Statistics
Portfolio Effective DurationBenchmark Effective Duration Portfolio Credit Quality
Yield At Market
Yield At Cost
Total Market Value
Managed Account Sub-TotalPool
$73,545,144.60
$72,984,301.10
$441,682.32
$119,107.53
2.50 years
2.59 years
4.28%
3.90%
AA
Accrued Interest
Portfolio Snapshot¹
13 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Account Summary
|
0.2%
15.7%
23.1%
2.4%
1.2%
0.4%
17.6%
39.4%
0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
Joint Powers Authority - $119,108
ABS - $11,541,056
Corporate - $17,024,657
Negotiable CD - $1,749,775
Municipal - $855,977
Supranational - $273,908
Agency CMBS - $12,980,350
U.S. Treasury - $29,000,259
Portfolio Allocation Sector Limit for Analysis*
Sector Allocation Analytics
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest.*Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided. 14 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Compliance
|
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Financial LP Asset and Investment Management ("AIM").
Certificate of Compliance
During the reporting period for the quarter ended September 30, 2024, the account(s) managed by PFM Asset Management("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.
Acknowledged : PFM Asset Management LLC
15 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Net Activity by Sector
($ millions)
U.S. TreasuryMunicipal
Corporate
ABS
Agency CMBS
U.S. Treasury
Municipal
Corporate
ABS
Agency CMBS
($6.0) ($4.0) ($2.0) $0.0 $2.0 $4.0 $6.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.
Sector Net Activity
Agency CMBS $1,728,366ABS $333,545
Corporate $179,130Municipal ($68,789)U.S. Treasury ($1,459,728)Total Net Activity $712,524 Sales/Maturities Purchases
Portfolio Activity
16 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Characteristics
|
Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. 42%16%
1% 2%
23%16%
Jun-24
39%18%
1% 2%
23%16%
Sep-24
Historical Sector Allocation
17 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Performance
|
1. The lesser of 10 years or since inception is shown. Performance inception date is March 31, 2016.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Realized gains / (losses) are shown on an amortized cost basis.
Accrual Basis EarningsInterest Earned²Realized Gains / (Losses)³Change in Amortized CostTotal Earnings 3 Months
$694,864
($114,239)
$64,067
$644,692
1 Year
$2,514,186
($633,782)
$272,932
$2,153,336
3 Years
$4,586,346
($1,082,952)
$455,714
$3,959,108
5 Year
$5,802,521
($601,001)
$3,460,466$8,661,986
Since Inception¹
$7,749,559
($892,154)
$16,592,640
$23,450,045
Accrual Basis Earnings
18 Negative Slightly Negative Neutral Slightly Positive Current outlook Outlook one quarter ago Positive © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Fixed-Income Sector Outlook – 4Q 2024
Sector Our Investment Preferences
C O M M E R C I A L P A P E R
/ C D
T R E A S U R I E S
T-Bill
T-Note
F E D E R A L A G E N C I E S
Bullets
Callables
S U P R A N A T I O N A L S
C O R P O R A T E S
Financials
Industrials
S E C U R I T I Z E D
Asset-Backed
Agency Mortgage-Backed
Agency CMBS
M U N I C I P A L S
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
19 © PFM Asset Management LLC | pfmam.com
Portfolio Transactions
© PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY7/1/2024 7/5/2024 1,150,000.00 91282CKX8 US TREASURY N/B 4.25% 6/30/2029 1,141,859.37 4.42%7/16/2024 7/25/2024 520,000.00 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 524,829.59 4.58%7/17/2024 7/26/2024 230,000.00 09290DAH4 BLACKROCK FUNDING INC (CALLABLE) 4.60% 7/26/2027 229,993.10 4.60%7/22/2024 7/23/2024 175,000.00 713448FX1 PEPSICO INC (CALLABLE) 4.50% 7/17/2029 174,767.25 4.55%7/22/2024 7/26/2024 70,000.00 025816DV8 AMERICAN EXPRESS CO (CALLABLE) 5.04% 7/26/2028 70,000.00 5.04%7/29/2024 8/1/2024 160,000.00 438516CX2 HONEYWELL INTERNATIONAL (CALLABLE) 4.65% 7/30/2027 159,995.20 4.65%8/1/2024 8/5/2024 700,000.00 91282CKZ3 US TREASURY N/B 4.37% 7/15/2027 709,786.68 3.96%8/7/2024 8/12/2024 100,000.00 904764BU0 UNILEVER CAPITAL CORP (CALLABLE) 4.25% 8/12/2027 99,733.00 4.35%8/7/2024 8/15/2024 495,000.00 3137HDXL9 FHMS K526 A2 4.54% 7/1/2029 500,504.76 4.33%9/3/2024 9/5/2024 160,000.00 57636QBA1 MASTERCARD INC (CALLABLE) 4.10% 1/15/2028 159,912.00 4.12%9/4/2024 9/12/2024 195,000.00 3137HFNZ4 FHMS K528 A2 4.50% 7/1/2029 199,164.70 4.06%9/5/2024 9/10/2024 1,500,000.00 91282CLG4 US TREASURY N/B 3.75% 8/15/2027 1,510,009.34 3.60%9/16/2024 9/18/2024 465,000.00 66989HAT5 NOVARTIS CAPITAL CORP (CALLABLE) 3.80% 9/18/2029 463,870.05 3.85%9/17/2024 9/24/2024 615,000.00 14041NGE5 COMET 2024-A1 A 3.92% 9/17/2029 614,879.95 3.92%9/23/2024 9/26/2024 90,000.00 69371RT48 PACCAR FINANCIAL CORP 4.00% 9/26/2029 89,814.60 4.05%9/26/2024 9/30/2024 800,000.00 91282CEV9 US TREASURY N/B 3.25% 6/30/2029 797,218.75 3.52% 20 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY9/26/2024 9/30/2024 525,000.00 3137HC2L5 FHMS K518 A2 5.40% 1/1/2029 554,928.28 4.05% Total BUY 7,950,000.00 8,001,266.62 0.00
INTEREST7/1/2024 7/1/2024 70,000.00 646140DN0 NJ TPK AUTH -B-TXBL 0.89% 1/1/2025 313.957/1/2024 7/1/2024 255,000.00 341271AD6 FLORIDA ST BRD OF ADM 1.25% 7/1/2025 1,603.957/1/2024 7/25/2024 265,000.00 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 1,104.177/1/2024 7/25/2024 550,000.00 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 1,920.427/1/2024 7/25/2024 157,846.48 3136ARTE8 FNA 2016-M3 A2 2.70% 2/1/2026 355.427/1/2024 7/25/2024 450,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 1,818.757/1/2024 7/25/2024 150,000.00 3137BM7C4 FHMS K051 A2 3.30% 9/1/2025 413.507/1/2024 7/25/2024 300,000.00 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 642.507/1/2024 7/25/2024 525,000.00 3137BNGT5 FHMS K054 A2 2.74% 1/1/2026 1,200.947/1/2024 7/25/2024 250,000.00 3137BN6G4 FHMS K053 A2 2.99% 12/1/2025 623.967/1/2024 7/25/2024 323,605.00 3137BLMZ8 FHMS K049 A2 3.01% 7/1/2025 811.717/1/2024 7/25/2024 675,000.00 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 2,701.697/1/2024 7/25/2024 700,000.00 3137BVZ82 FHMS K063 A2 3.43% 1/1/2027 2,000.837/1/2024 7/25/2024 298,601.02 3137BKRJ1 FHMS K047 A2 3.32% 5/1/2025 828.37 21 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST7/1/2024 7/25/2024 360,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 1,458.007/1/2024 7/25/2024 250,000.00 3137BMTX4 FHMS K052 A2 3.15% 11/1/2025 656.467/1/2024 7/25/2024 281,689.58 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 1,237.567/1/2024 7/25/2024 650,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 2,518.757/1/2024 7/25/2024 235,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 992.687/1/2024 7/25/2024 650,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 2,567.507/1/2024 7/25/2024 236,839.64 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 660.597/1/2024 7/25/2024 356,472.42 3136AY6X6 FNA 2017-M15 A2 2.96% 9/1/2027 879.377/1/2024 7/25/2024 700,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,811.087/1/2024 7/25/2024 500,000.00 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 737.507/1/2024 7/25/2024 450,000.00 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 994.877/1/2024 7/25/2024 295,000.00 3137HCKV3 FHMS K520 A2 5.18% 3/1/2029 1,273.427/1/2024 7/25/2024 330,000.00 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 1,257.307/1/2024 7/25/2024 600,000.00 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 1,621.507/1/2024 7/25/2024 400,000.00 3137FNWX4 FHMS K736 A2 2.28% 7/1/2026 760.677/1/2024 7/25/2024 254,564.90 3136AX7E9 FNA 2017-M12 A2 3.06% 6/1/2027 648.987/7/2024 7/7/2024 155,000.00 02665WEK3 AMERICAN HONDA FINANCE 5.25% 7/7/2026 4,068.75 22 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST7/8/2024 7/8/2024 250,000.00 02665WDJ7 AMERICAN HONDA FINANCE 2.35% 1/8/2027 2,937.507/9/2024 7/9/2024 350,000.00 21688ABC5 COOPERAT RABOBANK UA/NY 4.80% 1/9/2029 8,400.007/10/2024 7/10/2024 175,000.00 172967LD1 CITIGROUP INC (CALLABLE) 3.88% 1/10/2028 3,401.137/12/2024 7/12/2024 305,000.00 63253QAA2 NATIONAL AUSTRALIA BK/NY 4.96% 1/12/2026 7,573.157/15/2024 7/15/2024 250,000.00 02007WAC2 ALLYA 2023-1 A3 5.46% 5/15/2028 1,137.507/15/2024 7/15/2024 475,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 2,188.967/15/2024 7/15/2024 41,630.76 89238JAC9 TAOT 2021-D A3 0.71% 4/15/2026 24.637/15/2024 7/15/2024 18,597.95 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 8.067/15/2024 7/15/2024 520,000.00 161571HV9 CHAIT 2024-A1 A 4.60% 1/16/2029 1,993.337/15/2024 7/15/2024 195,000.00 50117BAC4 KCOT 2024-1A A3 5.19% 7/17/2028 843.387/15/2024 7/15/2024 41,229.47 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 19.247/15/2024 7/15/2024 235,000.00 50117DAC0 KCOT 2024-2A A3 5.26% 11/15/2028 686.727/15/2024 7/15/2024 180,000.00 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 697.507/15/2024 7/15/2024 230,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 954.507/15/2024 7/15/2024 28,350.78 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 17.487/15/2024 7/15/2024 255,000.00 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 1,034.877/15/2024 7/15/2024 116,280.47 448977AD0 HART 2022-A A3 2.22% 10/15/2026 215.12 23 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST7/15/2024 7/15/2024 265,000.00 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 1,150.547/15/2024 7/15/2024 185,000.00 44933DAD3 HART 2022-C A3 5.39% 6/15/2027 830.967/15/2024 7/15/2024 325,000.00 14041NFZ9 COMET 2022-A1 A1 2.80% 3/15/2027 758.337/15/2024 7/15/2024 520,000.00 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 2,418.007/15/2024 7/15/2024 460,000.00 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 2,200.337/15/2024 7/15/2024 175,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 770.007/15/2024 7/15/2024 225,000.00 254683CY9 DCENT 2023-A1 A 4.31% 3/15/2028 808.137/15/2024 7/15/2024 270,000.00 891941AD8 TAOT 2023-B A3 4.71% 2/15/2028 1,059.757/15/2024 7/15/2024 230,000.00 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 918.087/15/2024 7/15/2024 2,252.04 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 0.717/15/2024 7/15/2024 42,825.25 14044CAC6 COPAR 2021-1 A3 0.77% 9/15/2026 27.487/15/2024 7/15/2024 135,000.00 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 507.377/15/2024 7/15/2024 240,000.00 50117KAC4 KCOT 2023-1A A3 5.02% 6/15/2027 1,004.007/15/2024 7/15/2024 140,000.00 44933XAD9 HART 2023-B A3 5.48% 4/17/2028 639.337/15/2024 7/15/2024 670,000.00 91282CGE5 US TREASURY N/B 3.87% 1/15/2026 12,981.257/15/2024 7/15/2024 195,000.00 14318UAD3 CARMX 2022-4 A3 5.34% 8/16/2027 867.757/15/2024 7/15/2024 96,897.23 41284YAD8 HDMOT 2022-A A3 3.06% 2/15/2027 247.09 24 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST7/15/2024 7/15/2024 200,000.00 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 923.337/15/2024 7/15/2024 465,000.00 41285YAC9 HDMOT 2023-B A3 5.69% 8/15/2028 2,204.887/15/2024 7/15/2024 130,000.00 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 600.177/15/2024 7/15/2024 50,446.52 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 34.057/15/2024 7/15/2024 200,000.00 344930AD4 FORDO 2023-B A3 5.23% 5/15/2028 871.677/15/2024 7/15/2024 625,000.00 02582JKH2 AMXCA 2024-1 A 5.23% 4/16/2029 2,723.967/15/2024 7/15/2024 142,648.28 50117EAC8 KCOT 2022-1A A3 2.67% 10/15/2026 317.397/15/2024 7/15/2024 2,699.58 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 0.767/15/2024 7/15/2024 200,000.00 87612EBM7 TARGET CORP (CALLABLE) 1.95% 1/15/2027 1,950.007/15/2024 7/15/2024 230,000.00 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 967.927/15/2024 7/15/2024 53,930.83 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 24.727/15/2024 7/15/2024 220,000.00 448979AD6 HART 2023-A A3 4.58% 4/15/2027 839.677/15/2024 7/15/2024 650,000.00 92970QAA3 WFCIT 2024-A1 A 4.94% 2/15/2029 2,675.837/15/2024 7/15/2024 455,000.00 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,869.297/15/2024 7/15/2024 235,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 1,082.967/15/2024 7/15/2024 415,000.00 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 1,528.587/16/2024 7/16/2024 35,781.36 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 20.28 25 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST7/16/2024 7/16/2024 180,000.00 362583AD8 GMCAR 2023-2 A3 4.47% 2/16/2028 670.507/16/2024 7/16/2024 140,000.00 36267KAD9 GMCAR 2023-3 A3 5.45% 6/16/2028 635.837/16/2024 7/16/2024 215,000.00 379930AD2 GMCAR 2023-4 A3 5.78% 8/16/2028 1,035.587/16/2024 7/16/2024 40,186.14 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 42.207/20/2024 7/20/2024 46,315.88 92868KAC7 VALET 2021-1 A3 1.02% 6/22/2026 39.377/21/2024 7/21/2024 115,000.00 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 543.387/25/2024 7/25/2024 60,000.00 17327CAN3 CITIGROUP INC (CALLABLE) 2.01% 1/25/2026 604.207/25/2024 7/25/2024 115,000.00 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 524.217/26/2024 7/26/2024 40,000.00 693475BL8 PNC FINANCIAL SERVICES (CALLABLE) 4.75% 1/26/2027 951.607/26/2024 7/26/2024 50,000.00 857477BZ5 STATE STREET CORP (CALLABLE) 4.85% 1/26/2026 1,214.257/27/2024 7/27/2024 240,000.00 459200KS9 IBM CORP 4.00% 7/27/2025 4,800.007/27/2024 7/27/2024 175,000.00 61761J3R8 MORGAN STANLEY 3.12% 7/27/2026 2,734.387/28/2024 7/28/2024 105,000.00 89788MAH5 TRUIST FINANCIAL CORP (CALLABLE) 4.26% 7/28/2026 2,236.507/28/2024 7/28/2024 200,000.00 61747YEZ4 MORGAN STANLEY (CALLABLE) 5.05% 1/28/2027 5,050.007/31/2024 7/31/2024 50,000.00 91282CBH3 US TREASURY N/B 0.37% 1/31/2026 93.757/31/2024 7/31/2024 2,000,000.00 91282CGH8 US TREASURY N/B 3.50% 1/31/2028 35,000.008/1/2024 8/25/2024 254,263.87 3136AX7E9 FNA 2017-M12 A2 3.06% 6/1/2027 669.83 26 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST8/1/2024 8/25/2024 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 2,045.338/1/2024 8/25/2024 235,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 992.688/1/2024 8/25/2024 295,000.00 3137HCKV3 FHMS K520 A2 5.18% 3/1/2029 1,273.428/1/2024 8/25/2024 250,000.00 3137BN6G4 FHMS K053 A2 2.99% 12/1/2025 623.968/1/2024 8/25/2024 300,000.00 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 642.508/1/2024 8/25/2024 450,000.00 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 994.888/1/2024 8/25/2024 500,000.00 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 737.508/1/2024 8/25/2024 650,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 2,518.758/1/2024 8/25/2024 360,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 1,458.008/1/2024 8/25/2024 600,000.00 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 1,621.508/1/2024 8/25/2024 550,000.00 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 1,920.428/1/2024 8/25/2024 265,000.00 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 1,104.178/1/2024 8/25/2024 236,357.21 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 659.248/1/2024 8/25/2024 525,000.00 3137BNGT5 FHMS K054 A2 2.74% 1/1/2026 1,200.948/1/2024 8/25/2024 650,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 2,567.508/1/2024 8/25/2024 400,000.00 3137FNWX4 FHMS K736 A2 2.28% 7/1/2026 760.678/1/2024 8/25/2024 700,000.00 3137BVZ82 FHMS K063 A2 3.43% 1/1/2027 2,000.83 27 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST8/1/2024 8/25/2024 150,000.00 3137BM7C4 FHMS K051 A2 3.30% 9/1/2025 413.508/1/2024 8/25/2024 355,858.28 3136AY6X6 FNA 2017-M15 A2 2.96% 9/1/2027 907.128/1/2024 8/25/2024 322,936.14 3137BLMZ8 FHMS K049 A2 3.01% 7/1/2025 810.038/1/2024 8/25/2024 281,264.12 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 1,235.698/1/2024 8/25/2024 330,000.00 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 1,257.308/1/2024 8/25/2024 250,000.00 3137BMTX4 FHMS K052 A2 3.15% 11/1/2025 656.468/1/2024 8/25/2024 450,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 1,818.758/1/2024 8/25/2024 157,589.97 3136ARTE8 FNA 2016-M3 A2 2.70% 2/1/2026 354.848/1/2024 8/25/2024 675,000.00 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 2,701.698/1/2024 8/25/2024 700,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,811.088/1/2024 8/25/2024 297,973.69 3137BKRJ1 FHMS K047 A2 3.32% 5/1/2025 826.638/3/2024 8/3/2024 475,000.00 58769JAL1 MERCEDES-BENZ FIN NA 5.10% 8/3/2028 12,112.508/3/2024 8/3/2024 195,000.00 857477CD3 STATE STREET CORP (CALLABLE) 5.27% 8/3/2026 5,140.208/5/2024 8/5/2024 225,000.00 458140BY5 INTEL CORP (CALLABLE) 3.75% 8/5/2027 4,218.758/6/2024 8/6/2024 75,000.00 857477BR3 STATE STREET CORP (CALLABLE) 1.74% 2/6/2026 654.758/6/2024 8/6/2024 80,000.00 69371RQ66 PACCAR FINANCIAL CORP 1.80% 2/6/2025 720.008/7/2024 8/7/2024 250,000.00 94988J6D4 WELLS FARGO BANK NA (CALLABLE) 5.45% 8/7/2026 6,812.50 28 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST8/7/2024 8/7/2024 275,000.00 63743HFN7 NATIONAL RURAL UTIL COOP (CALLABLE) 4.85% 2/7/2029 6,742.858/8/2024 8/8/2024 310,000.00 882508CE2 TEXAS INSTRUMENTS INC (CALLABLE) 4.60% 2/8/2027 7,130.008/8/2024 8/8/2024 350,000.00 009158BH8 AIR PRODUCTS & CHEMICALS (CALLABLE) 4.60% 2/8/2029 8,050.008/9/2024 8/9/2024 270,000.00 532457CJ5 ELI LILLY & CO (CALLABLE) 4.50% 2/9/2027 6,075.008/11/2024 8/11/2024 300,000.00 05565ECE3 BMW US CAPITAL LLC (CALLABLE) 5.05% 8/11/2028 7,575.008/12/2024 8/12/2024 140,000.00 38141GXS8 GOLDMAN SACHS GROUP INC (CALLABLE) 0.85% 2/12/2026 598.508/13/2024 8/13/2024 295,000.00 713448FQ6 PEPSICO INC (CALLABLE) 4.55% 2/13/2026 6,711.258/13/2024 8/13/2024 70,000.00 89236TGT6 TOYOTA MOTOR CREDIT CORP 1.80% 2/13/2025 630.008/14/2024 8/14/2024 275,000.00 89236TKX2 TOYOTA MOTOR CREDIT CORP 5.00% 8/14/2026 6,875.008/15/2024 8/15/2024 475,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 2,188.968/15/2024 8/15/2024 38,855.18 14044CAC6 COPAR 2021-1 A3 0.77% 9/15/2026 24.938/15/2024 8/15/2024 130,000.00 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 600.178/15/2024 8/15/2024 37,485.50 89238JAC9 TAOT 2021-D A3 0.71% 4/15/2026 22.188/15/2024 8/15/2024 235,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 1,082.968/15/2024 8/15/2024 200,000.00 9128282A7 US TREASURY N/B 1.50% 8/15/2026 1,500.008/15/2024 8/15/2024 250,000.00 02007WAC2 ALLYA 2023-1 A3 5.46% 5/15/2028 1,137.508/15/2024 8/15/2024 260,129.72 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 1,129.40 29 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST8/15/2024 8/15/2024 625,000.00 02582JKH2 AMXCA 2024-1 A 5.23% 4/16/2029 2,723.968/15/2024 8/15/2024 185,000.00 44933DAD3 HART 2022-C A3 5.39% 6/15/2027 830.968/15/2024 8/15/2024 235,000.00 50117DAC0 KCOT 2024-2A A3 5.26% 11/15/2028 1,030.088/15/2024 8/15/2024 195,000.00 50117BAC4 KCOT 2024-1A A3 5.19% 7/17/2028 843.388/15/2024 8/15/2024 650,000.00 92970QAA3 WFCIT 2024-A1 A 4.94% 2/15/2029 2,675.838/15/2024 8/15/2024 115,000.00 882508BV5 TEXAS INSTRUMENTS INC (CALLABLE) 4.60% 2/15/2028 2,645.008/15/2024 8/15/2024 270,000.00 891941AD8 TAOT 2023-B A3 4.71% 2/15/2028 1,059.758/15/2024 8/15/2024 455,000.00 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,869.298/15/2024 8/15/2024 175,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 770.008/15/2024 8/15/2024 415,000.00 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 1,528.588/15/2024 8/15/2024 24,780.94 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 15.288/15/2024 8/15/2024 1,645.85 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 0.478/15/2024 8/15/2024 14,680.52 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 6.368/15/2024 8/15/2024 180,000.00 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 697.508/15/2024 8/15/2024 106,590.17 448977AD0 HART 2022-A A3 2.22% 10/15/2026 197.198/15/2024 8/15/2024 225,000.00 438516CJ3 HONEYWELL INTERNATIONAL (CALLABLE) 4.95% 2/15/2028 5,568.758/15/2024 8/15/2024 195,000.00 14318UAD3 CARMX 2022-4 A3 5.34% 8/16/2027 867.75 30 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST8/15/2024 8/15/2024 140,000.00 44933XAD9 HART 2023-B A3 5.48% 4/17/2028 639.338/15/2024 8/15/2024 230,000.00 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 918.088/15/2024 8/15/2024 520,000.00 161571HV9 CHAIT 2024-A1 A 4.60% 1/16/2029 1,993.338/15/2024 8/15/2024 325,000.00 14041NFZ9 COMET 2022-A1 A1 2.80% 3/15/2027 758.338/15/2024 8/15/2024 88,459.53 41284YAD8 HDMOT 2022-A A3 3.06% 2/15/2027 225.578/15/2024 8/15/2024 135,000.00 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 507.388/15/2024 8/15/2024 460,000.00 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 2,200.338/15/2024 8/15/2024 465,000.00 41285YAC9 HDMOT 2023-B A3 5.69% 8/15/2028 2,204.888/15/2024 8/15/2024 350,000.00 427866AX6 HERSHEY COMPANY (CALLABLE) 2.30% 8/15/2026 4,025.008/15/2024 8/15/2024 48,546.10 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 22.258/15/2024 8/15/2024 230,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 954.508/15/2024 8/15/2024 225,000.00 254683CY9 DCENT 2023-A1 A 4.31% 3/15/2028 808.138/15/2024 8/15/2024 200,000.00 344930AD4 FORDO 2023-B A3 5.23% 5/15/2028 871.678/15/2024 8/15/2024 200,000.00 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 923.338/15/2024 8/15/2024 220,000.00 448979AD6 HART 2023-A A3 4.58% 4/15/2027 839.678/15/2024 8/15/2024 255,000.00 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 1,034.888/15/2024 8/15/2024 240,000.00 50117KAC4 KCOT 2023-1A A3 5.02% 6/15/2027 1,004.00 31 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST8/15/2024 8/15/2024 230,000.00 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 967.928/15/2024 8/15/2024 133,708.09 50117EAC8 KCOT 2022-1A A3 2.67% 10/15/2026 297.508/15/2024 8/15/2024 520,000.00 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 2,418.008/15/2024 8/15/2024 45,772.65 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 30.908/15/2024 8/15/2024 35,230.22 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 16.448/15/2024 8/15/2024 6,000,000.00 912828V98 US TREASURY N/B 2.25% 2/15/2027 67,500.008/16/2024 8/16/2024 140,000.00 36267KAD9 GMCAR 2023-3 A3 5.45% 6/16/2028 635.838/16/2024 8/16/2024 180,000.00 362583AD8 GMCAR 2023-2 A3 4.47% 2/16/2028 670.508/16/2024 8/16/2024 32,539.25 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 18.448/16/2024 8/16/2024 215,000.00 379930AD2 GMCAR 2023-4 A3 5.78% 8/16/2028 1,035.588/16/2024 8/16/2024 36,800.87 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 38.648/18/2024 8/18/2024 450,000.00 06428CAA2 BANK OF AMERICA NA (CALLABLE) 5.52% 8/18/2026 12,433.508/20/2024 8/20/2024 41,096.10 92868KAC7 VALET 2021-1 A3 1.02% 6/22/2026 34.938/21/2024 8/21/2024 115,000.00 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 543.388/22/2024 8/22/2024 95,000.00 110122EE4 BRISTOL-MYERS SQUIBB CO (CALLABLE) 4.90% 2/22/2027 2,327.508/24/2024 8/24/2024 100,000.00 46647PCV6 JPMORGAN CHASE & CO (CALLABLE) 2.59% 2/24/2026 1,297.508/25/2024 8/25/2024 115,000.00 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 524.21 32 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST8/26/2024 8/26/2024 305,000.00 17275RBQ4 CISCO SYSTEMS INC (CALLABLE) 4.80% 2/26/2027 7,320.008/26/2024 8/26/2024 175,000.00 04636NAK9 ASTRAZENECA FINANCE LLC (CALLABLE) 4.80% 2/26/2027 4,200.008/31/2024 8/31/2024 91282CBQ3 US TREASURY N/B 0.50% 2/28/2026 162.508/31/2024 8/31/2024 91282CGP0 US TREASURY N/B 4.00% 2/29/2028 34,000.008/31/2024 8/31/2024 91282CKD2 US TREASURY N/B 4.25% 2/28/2029 13,812.509/1/2024 9/1/2024 13063D3N6 CA ST 4.84% 3/1/2027 6,420.959/1/2024 9/25/2024 3137BLMZ8 FHMS K049 A2 3.01% 7/1/2025 808.449/1/2024 9/25/2024 3137HDXL9 FHMS K526 A2 4.54% 7/1/2029 1,873.999/1/2024 9/25/2024 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 1,920.429/1/2024 9/25/2024 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 737.509/1/2024 9/25/2024 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 1,818.759/1/2024 9/25/2024 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,811.089/1/2024 9/25/2024 3137BKRJ1 FHMS K047 A2 3.32% 5/1/2025 824.979/1/2024 9/25/2024 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 1,257.309/1/2024 9/25/2024 3137BM7C4 FHMS K051 A2 3.30% 9/1/2025 403.269/1/2024 9/25/2024 3137BVZ82 FHMS K063 A2 3.43% 1/1/2027 2,000.839/1/2024 9/25/2024 3136AY6X6 FNA 2017-M15 A2 2.96% 9/1/2027 905.65 33 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST9/1/2024 9/25/2024 3137BMTX4 FHMS K052 A2 3.15% 11/1/2025 656.469/1/2024 9/25/2024 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 1,621.509/1/2024 9/25/2024 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 2,045.339/1/2024 9/25/2024 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 657.979/1/2024 9/25/2024 3137FNWX4 FHMS K736 A2 2.28% 7/1/2026 760.679/1/2024 9/25/2024 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 2,567.509/1/2024 9/25/2024 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 642.509/1/2024 9/25/2024 3137BNGT5 FHMS K054 A2 2.74% 1/1/2026 1,200.949/1/2024 9/25/2024 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 1,233.369/1/2024 9/25/2024 3137HCKV3 FHMS K520 A2 5.18% 3/1/2029 1,273.429/1/2024 9/25/2024 3136AX7E9 FNA 2017-M12 A2 3.06% 6/1/2027 636.189/1/2024 9/25/2024 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 2,518.759/1/2024 9/25/2024 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 994.879/1/2024 9/25/2024 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 1,458.009/1/2024 9/25/2024 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 2,701.699/1/2024 9/25/2024 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 1,104.179/1/2024 9/25/2024 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 992.68 34 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST9/1/2024 9/25/2024 3136ARTE8 FNA 2016-M3 A2 2.70% 2/1/2026 354.309/1/2024 9/25/2024 3137BN6G4 FHMS K053 A2 2.99% 12/1/2025 623.969/8/2024 9/8/2024 24422EWD7 JOHN DEERE CAPITAL CORP 2.35% 3/8/2027 1,468.759/8/2024 9/8/2024 24422EXD6 JOHN DEERE CAPITAL CORP 5.15% 9/8/2026 7,725.009/12/2024 9/12/2024 641062BA1 NESTLE HOLDINGS INC 4.00% 9/12/2025 3,000.009/13/2024 9/13/2024 63743HFH0 NATIONAL RURAL UTIL COOP (CALLABLE) 4.45% 3/13/2026 1,446.259/13/2024 9/13/2024 20271RAR1 COMMONWEALTH BK AUSTR NY 5.31% 3/13/2026 13,290.009/14/2024 9/14/2024 437076BT8 HOME DEPOT INC (CALLABLE) 2.80% 9/14/2027 3,500.009/15/2024 9/15/2024 448979AD6 HART 2023-A A3 4.58% 4/15/2027 839.679/15/2024 9/15/2024 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 507.389/15/2024 9/15/2024 50117BAC4 KCOT 2024-1A A3 5.19% 7/17/2028 843.389/15/2024 9/15/2024 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 2,188.969/15/2024 9/15/2024 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 2,418.009/15/2024 9/15/2024 14318UAD3 CARMX 2022-4 A3 5.34% 8/16/2027 845.469/15/2024 9/15/2024 344930AD4 FORDO 2023-B A3 5.23% 5/15/2028 871.679/15/2024 9/15/2024 161571HV9 CHAIT 2024-A1 A 4.60% 1/16/2029 1,993.339/15/2024 9/15/2024 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 1,082.96 35 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST9/15/2024 9/15/2024 02582JKH2 AMXCA 2024-1 A 5.23% 4/16/2029 2,723.969/15/2024 9/15/2024 92970QAA3 WFCIT 2024-A1 A 4.94% 2/15/2029 2,675.839/15/2024 9/15/2024 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 954.509/15/2024 9/15/2024 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 967.929/15/2024 9/15/2024 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 13.099/15/2024 9/15/2024 02007WAC2 ALLYA 2023-1 A3 5.46% 5/15/2028 1,137.509/15/2024 9/15/2024 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 697.509/15/2024 9/15/2024 650036DT0 NY ST URBAN DEV-F-1 0.87% 3/15/2025 1,479.009/15/2024 9/15/2024 44933DAD3 HART 2022-C A3 5.39% 6/15/2027 830.969/15/2024 9/15/2024 41285YAC9 HDMOT 2023-B A3 5.69% 8/15/2028 2,204.889/15/2024 9/15/2024 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 918.089/15/2024 9/15/2024 14041NFZ9 COMET 2022-A1 A1 2.80% 3/15/2027 758.339/15/2024 9/15/2024 254683CY9 DCENT 2023-A1 A 4.31% 3/15/2028 808.139/15/2024 9/15/2024 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 13.429/15/2024 9/15/2024 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 0.179/15/2024 9/15/2024 50117KAC4 KCOT 2023-1A A3 5.02% 6/15/2027 1,004.009/15/2024 9/15/2024 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 2,200.33 36 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST9/15/2024 9/15/2024 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 923.339/15/2024 9/15/2024 50117EAC8 KCOT 2022-1A A3 2.67% 10/15/2026 276.629/15/2024 9/15/2024 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 27.289/15/2024 9/15/2024 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 1,528.589/15/2024 9/15/2024 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 19.719/15/2024 9/15/2024 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 770.009/15/2024 9/15/2024 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 600.179/15/2024 9/15/2024 41284YAD8 HDMOT 2022-A A3 3.06% 2/15/2027 204.569/15/2024 9/15/2024 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,869.299/15/2024 9/15/2024 448977AD0 HART 2022-A A3 2.22% 10/15/2026 179.259/15/2024 9/15/2024 14044CAC6 COPAR 2021-1 A3 0.77% 9/15/2026 22.379/15/2024 9/15/2024 50117DAC0 KCOT 2024-2A A3 5.26% 11/15/2028 1,030.089/15/2024 9/15/2024 891941AD8 TAOT 2023-B A3 4.71% 2/15/2028 1,059.759/15/2024 9/15/2024 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 1,034.889/15/2024 9/15/2024 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 1,058.339/15/2024 9/15/2024 89238JAC9 TAOT 2021-D A3 0.71% 4/15/2026 19.519/15/2024 9/15/2024 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 4.70 37 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST9/15/2024 9/15/2024 44933XAD9 HART 2023-B A3 5.48% 4/17/2028 639.339/16/2024 9/16/2024 36267KAD9 GMCAR 2023-3 A3 5.45% 6/16/2028 635.839/16/2024 9/16/2024 362583AD8 GMCAR 2023-2 A3 4.47% 2/16/2028 670.509/16/2024 9/16/2024 379930AD2 GMCAR 2023-4 A3 5.78% 8/16/2028 1,035.589/16/2024 9/16/2024 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 16.579/16/2024 9/16/2024 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 34.949/17/2024 9/17/2024 172967NL1 CITIGROUP INC (CALLABLE) 3.29% 3/17/2026 1,069.259/17/2024 9/17/2024 40428HVL3 HSBC USA INC 5.62% 3/17/2025 7,734.389/18/2024 9/18/2024 63873QP65 NATIXIS NY BRANCH 5.61% 9/18/2026 28,361.679/18/2024 9/18/2024 857477CL5 STATE STREET CORP (CALLABLE) 4.99% 3/18/2027 5,242.659/20/2024 9/20/2024 92868KAC7 VALET 2021-1 A3 1.02% 6/22/2026 30.079/21/2024 9/21/2024 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 543.389/24/2024 9/24/2024 95000U2V4 WELLS FARGO & COMPANY (CALLABLE) 3.52% 3/24/2028 4,407.509/25/2024 9/25/2024 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 524.219/30/2024 9/30/2024 91282CKG5 US TREASURY N/B 4.12% 3/31/2029 42,796.889/30/2024 9/30/2024 69371RS49 PACCAR FINANCIAL CORP 4.45% 3/30/2026 7,787.509/30/2024 9/30/2024 440452AK6 HORMEL FOODS CORP (CALLABLE) 4.80% 3/30/2027 4,040.00 38 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST9/30/2024 9/30/2024 91282CEF4 US TREASURY N/B 2.50% 3/31/2027 7,500.009/30/2024 9/30/2024 91282CJA0 US TREASURY N/B 4.62% 9/30/2028 9,828.139/30/2024 9/30/2024 857477BM4 STATE STREET CORP (CALLABLE) 2.90% 3/30/2026 2,901.00 Total INTEREST 61,367,255.55 738,146.27 0.00
MATURITY8/12/2024 8/12/2024 70,000.00 05565EBU8 BMW US CAPITAL LLC CORPORATE NOTES 0.75% 8/12/2024 70,262.50 Total MATURITY 70,000.00 70,262.50 0.00
PAYDOWNS7/1/2024 7/25/2024 482.43 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 482.437/1/2024 7/25/2024 256.51 3136ARTE8 FNA 2016-M3 A2 2.70% 2/1/2026 256.517/1/2024 7/25/2024 301.03 3136AX7E9 FNA 2017-M12 A2 3.06% 6/1/2027 301.037/1/2024 7/25/2024 627.33 3137BKRJ1 FHMS K047 A2 3.32% 5/1/2025 627.337/1/2024 7/25/2024 668.86 3137BLMZ8 FHMS K049 A2 3.01% 7/1/2025 668.867/1/2024 7/25/2024 425.46 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 425.467/1/2024 7/25/2024 614.14 3136AY6X6 FNA 2017-M15 A2 2.96% 9/1/2027 614.147/15/2024 7/15/2024 2,252.04 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 2,252.047/15/2024 7/15/2024 1,053.73 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 1,053.73 39 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS7/15/2024 7/15/2024 5,999.25 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 5,999.257/15/2024 7/15/2024 3,569.84 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 3,569.847/15/2024 7/15/2024 4,673.87 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 4,673.877/15/2024 7/15/2024 5,384.73 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 5,384.737/15/2024 7/15/2024 9,690.30 448977AD0 HART 2022-A A3 2.22% 10/15/2026 9,690.307/15/2024 7/15/2024 8,437.70 41284YAD8 HDMOT 2022-A A3 3.06% 2/15/2027 8,437.707/15/2024 7/15/2024 4,145.26 89238JAC9 TAOT 2021-D A3 0.71% 4/15/2026 4,145.267/15/2024 7/15/2024 8,940.19 50117EAC8 KCOT 2022-1A A3 2.67% 10/15/2026 8,940.197/15/2024 7/15/2024 4,870.28 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 4,870.287/15/2024 7/15/2024 3,970.07 14044CAC6 COPAR 2021-1 A3 0.77% 9/15/2026 3,970.077/15/2024 7/15/2024 3,917.43 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 3,917.437/16/2024 7/16/2024 3,385.27 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 3,385.277/16/2024 7/16/2024 3,242.11 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 3,242.117/20/2024 7/20/2024 5,219.78 92868KAC7 VALET 2021-1 A3 1.02% 6/22/2026 5,219.788/1/2024 8/25/2024 3,714.30 3137BM7C4 FHMS K051 A2 3.30% 9/1/2025 3,714.308/1/2024 8/25/2024 635.79 3137BLMZ8 FHMS K049 A2 3.01% 7/1/2025 635.798/1/2024 8/25/2024 528.94 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 528.94 40 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS8/1/2024 8/25/2024 240.14 3136ARTE8 FNA 2016-M3 A2 2.70% 2/1/2026 240.148/1/2024 8/25/2024 455.72 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 455.728/1/2024 8/25/2024 12,893.43 3136AX7E9 FNA 2017-M12 A2 3.06% 6/1/2027 12,893.438/1/2024 8/25/2024 574.60 3136AY6X6 FNA 2017-M15 A2 2.96% 9/1/2027 574.608/1/2024 8/25/2024 596.85 3137BKRJ1 FHMS K047 A2 3.32% 5/1/2025 596.858/15/2024 8/15/2024 1,039.64 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 1,039.648/15/2024 8/15/2024 3,546.58 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 3,546.588/15/2024 8/15/2024 4,506.05 89238JAC9 TAOT 2021-D A3 0.71% 4/15/2026 4,506.058/15/2024 8/15/2024 16,368.93 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 16,368.938/15/2024 8/15/2024 6,463.86 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 6,463.868/15/2024 8/15/2024 9,696.13 448977AD0 HART 2022-A A3 2.22% 10/15/2026 9,696.138/15/2024 8/15/2024 3,993.26 14044CAC6 COPAR 2021-1 A3 0.77% 9/15/2026 3,993.268/15/2024 8/15/2024 9,385.96 50117EAC8 KCOT 2022-1A A3 2.67% 10/15/2026 9,385.968/15/2024 8/15/2024 3,832.63 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 3,832.638/15/2024 8/15/2024 5,009.55 14318UAD3 CARMX 2022-4 A3 5.34% 8/16/2027 5,009.558/15/2024 8/15/2024 8,239.12 41284YAD8 HDMOT 2022-A A3 3.06% 2/15/2027 8,239.128/15/2024 8/15/2024 5,351.34 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 5,351.34 41 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS8/15/2024 8/15/2024 5,540.61 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 5,540.618/16/2024 8/16/2024 3,522.14 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 3,522.148/16/2024 8/16/2024 3,297.02 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 3,297.028/20/2024 8/20/2024 5,722.76 92868KAC7 VALET 2021-1 A3 1.02% 6/22/2026 5,722.769/1/2024 9/25/2024 297.08 3137BM7C4 FHMS K051 A2 3.30% 9/1/2025 297.08 0.749/1/2024 9/25/2024 24,443.39 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 24,443.39 733.159/1/2024 9/25/2024 598.81 3137BKRJ1 FHMS K047 A2 3.32% 5/1/2025 598.81 -0.949/1/2024 9/25/2024 241.09 3136ARTE8 FNA 2016-M3 A2 2.70% 2/1/2026 241.09 6.019/1/2024 9/25/2024 261.11 3136AX7E9 FNA 2017-M12 A2 3.06% 6/1/2027 261.11 12.519/1/2024 9/25/2024 637.98 3137BLMZ8 FHMS K049 A2 3.01% 7/1/2025 637.98 2.759/1/2024 9/25/2024 457.24 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 457.24 8.979/1/2024 9/25/2024 532.08 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 532.08 0.019/1/2024 9/25/2024 576.68 3136AY6X6 FNA 2017-M15 A2 2.96% 9/1/2027 576.68 29.879/15/2024 9/15/2024 9,631.49 448977AD0 HART 2022-A A3 2.22% 10/15/2026 9,631.49 0.179/15/2024 9/15/2024 4,828.02 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 4,828.02 0.289/15/2024 9/15/2024 1,880.53 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 1,880.53 0.159/15/2024 9/15/2024 5,599.86 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 5,599.86 0.33 42 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS9/15/2024 9/15/2024 16,132.72 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 16,132.72 1.979/15/2024 9/15/2024 11,310.49 14318UAD3 CARMX 2022-4 A3 5.34% 8/16/2027 11,310.49 1.619/15/2024 9/15/2024 7,915.30 41284YAD8 HDMOT 2022-A A3 3.06% 2/15/2027 7,915.30 0.669/15/2024 9/15/2024 4,201.09 89238JAC9 TAOT 2021-D A3 0.71% 4/15/2026 4,201.09 0.039/15/2024 9/15/2024 6,289.02 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 6,289.02 0.069/15/2024 9/15/2024 3,939.84 14044CAC6 COPAR 2021-1 A3 0.77% 9/15/2026 3,939.84 0.039/15/2024 9/15/2024 3,838.24 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 3,838.24 0.249/15/2024 9/15/2024 9,078.52 50117EAC8 KCOT 2022-1A A3 2.67% 10/15/2026 9,078.52 0.599/15/2024 9/15/2024 6,506.46 44933DAD3 HART 2022-C A3 5.39% 6/15/2027 6,506.46 0.029/15/2024 9/15/2024 3,596.96 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 3,596.96 0.309/15/2024 9/15/2024 606.21 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 606.21 0.039/16/2024 9/16/2024 3,319.19 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 3,319.19 0.139/16/2024 9/16/2024 3,158.28 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 3,158.28 0.049/20/2024 9/20/2024 5,235.20 92868KAC7 VALET 2021-1 A3 1.02% 6/22/2026 5,235.20 0.07 Total PAYDOWNS 332,395.84 332,395.84 799.78
43 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
SELL7/1/2024 7/5/2024 1,000,000.00 91282CGE5 US TREASURY N/B 3.87% 1/15/2026 1,002,841.69 -11,968.497/3/2024 7/5/2024 50,000.00 91282CGE5 US TREASURY N/B 3.87% 1/15/2026 50,151.85 -588.667/22/2024 7/23/2024 175,000.00 91282CGE5 US TREASURY N/B 3.87% 1/15/2026 173,144.49 -1,410.117/23/2024 7/25/2024 495,000.00 91282CGE5 US TREASURY N/B 3.87% 1/15/2026 490,068.50 -3,782.097/25/2024 7/26/2024 150,000.00 91282CBH3 US TREASURY N/B 0.37% 1/31/2026 141,185.63 -8,352.117/30/2024 8/1/2024 50,000.00 91282CBH3 US TREASURY N/B 0.37% 1/31/2026 46,996.60 -2,761.307/30/2024 8/1/2024 75,000.00 91282CBQ3 US TREASURY N/B 0.50% 2/28/2026 70,580.76 -4,323.468/1/2024 8/2/2024 70,000.00 646140DN0 NJ TPK AUTH -B-TXBL 0.89% 1/1/2025 68,789.17 -1,264.908/1/2024 8/5/2024 35,000.00 437076CR1 HOME DEPOT INC (CALLABLE) 4.00% 9/15/2025 35,241.69 -298.078/1/2024 8/5/2024 85,000.00 025816CQ0 AMERICAN EXPRESS CO (CALLABLE) 2.25% 3/4/2025 84,367.39 -1,418.278/1/2024 8/5/2024 300,000.00 91282CBQ3 US TREASURY N/B 0.50% 2/28/2026 283,382.30 -16,326.978/1/2024 8/5/2024 225,000.00 91282CBQ3 US TREASURY N/B 0.50% 2/28/2026 212,536.73 -12,193.438/7/2024 8/8/2024 250,000.00 91282CBQ3 US TREASURY N/B 0.50% 2/28/2026 236,796.88 -12,975.138/14/2024 8/15/2024 75,000.00 91282CBQ3 US TREASURY N/B 0.50% 2/28/2026 71,178.04 -3,763.568/15/2024 8/15/2024 35,000.00 91282CBQ3 US TREASURY N/B 0.50% 2/28/2026 33,146.69 -1,826.059/9/2024 9/10/2024 250,000.00 91282CGV7 US TREASURY N/B 3.75% 4/15/2026 253,615.20 347.099/9/2024 9/10/2024 225,000.00 53522KAB9 LINDE INC/CT (CALLABLE) 4.70% 12/5/2025 229,093.38 1,402.87 44 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
SELL9/9/2024 9/10/2024 65,000.00 91282CBQ3 US TREASURY N/B 0.50% 2/28/2026 61,906.25 -2,912.959/9/2024 9/10/2024 200,000.00 9128282A7 US TREASURY N/B 1.50% 8/15/2026 192,126.02 -953.619/9/2024 9/10/2024 240,000.00 459200KS9 IBM CORP 4.00% 7/27/2025 239,836.27 -1,310.409/9/2024 9/10/2024 100,000.00 91282CCF6 US TREASURY N/B 0.75% 5/31/2026 95,220.74 -4,838.509/9/2024 9/10/2024 225,000.00 91282CCZ2 US TREASURY N/B 0.87% 9/30/2026 213,633.63 -11,599.979/10/2024 9/10/2024 150,000.00 91282CDG3 US TREASURY N/B 1.12% 10/31/2026 142,857.93 -7,543.499/11/2024 9/12/2024 295,000.00 713448FQ6 PEPSICO INC (CALLABLE) 4.55% 2/13/2026 298,346.86 2,346.719/18/2024 9/18/2024 125,000.00 91282CDG3 US TREASURY N/B 1.12% 10/31/2026 119,239.99 -6,126.889/18/2024 9/18/2024 25,000.00 91282CDG3 US TREASURY N/B 1.12% 10/31/2026 23,847.99 -1,193.849/23/2024 9/24/2024 200,000.00 91282CDG3 US TREASURY N/B 1.12% 10/31/2026 191,109.72 -9,265.709/23/2024 9/24/2024 400,000.00 912828U24 US TREASURY N/B 2.00% 11/15/2026 390,103.95 1,449.839/24/2024 9/24/2024 25,000.00 912828U24 US TREASURY N/B 2.00% 11/15/2026 24,399.08 108.209/26/2024 9/26/2024 25,000.00 912828U24 US TREASURY N/B 2.00% 11/15/2026 24,398.87 102.999/26/2024 9/30/2024 305,000.00 63253QAA2 NATIONAL AUSTRALIA BK/NY 4.96% 1/12/2026 311,807.50 3,525.809/26/2024 9/30/2024 1,100,000.00 912828U24 US TREASURY N/B 2.00% 11/15/2026 1,074,132.81 4,675.36 Total SELL 7,025,000.00 6,886,084.60 -115,039.09
45 © PFM Asset Management LLC | pfmam.com
Portfolio Holdings
© PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/BDTD 11/15/2016 2.000% 11/15/2026
912828U24 1,450,000.00 AA+ Aaa 1/31/2023 2/1/2023 1,358,865.23 3.80 10,953.80 1,398,930.26 1,401,572.90 US TREASURY N/BDTD 11/30/2021 1.250% 11/30/2026
91282CDK4 300,000.00 AA+ Aaa 12/2/2021 12/7/2021 300,386.72 1.22 1,260.25 300,167.95 285,234.30 US TREASURY N/BDTD 12/31/2021 1.250% 12/31/2026
91282CDQ1 325,000.00 AA+ Aaa 1/3/2022 1/6/2022 323,273.44 1.36 1,026.66 324,221.15 308,546.88 US TREASURY N/BDTD 02/15/2017 2.250% 02/15/2027
912828V98 1,000,000.00 AA+ Aaa 2/6/2023 2/7/2023 938,828.13 3.91 2,873.64 963,896.52 968,945.00 US TREASURY N/BDTD 02/15/2017 2.250% 02/15/2027
912828V98 5,000,000.00 AA+ Aaa 1/26/2023 1/27/2023 4,731,445.31 3.69 14,368.21 4,842,677.76 4,844,725.00 US TREASURY N/BDTD 03/31/2022 2.500% 03/31/2027
91282CEF4 600,000.00 AA+ Aaa 4/14/2022 4/18/2022 592,851.56 2.76 41.21 596,398.10 584,437.80 US TREASURY N/BDTD 05/02/2022 2.750% 04/30/2027
91282CEN7 325,000.00 AA+ Aaa 5/4/2022 5/6/2022 320,886.72 3.03 3,740.15 322,873.30 318,233.50 US TREASURY N/BDTD 05/31/2022 2.625% 05/31/2027
91282CET4 350,000.00 AA+ Aaa 6/1/2022 6/6/2022 344,818.36 2.95 3,087.60 347,232.66 341,386.85 US TREASURY N/BDTD 05/31/2022 2.625% 05/31/2027
91282CET4 375,000.00 AA+ Aaa 6/9/2022 6/10/2022 367,309.57 3.07 3,308.15 370,883.76 365,771.63 US TREASURY N/BDTD 06/30/2022 3.250% 06/30/2027
91282CEW7 750,000.00 AA+ Aaa 6/1/2023 6/5/2023 733,623.05 3.83 6,159.99 738,957.13 743,466.75 US TREASURY N/BDTD 07/15/2024 4.375% 07/15/2027
91282CKZ3 700,000.00 AA+ Aaa 8/1/2024 8/5/2024 708,039.06 3.96 6,491.17 707,638.39 714,437.50 US TREASURY N/BDTD 08/15/2024 3.750% 08/15/2027
91282CLG4 1,500,000.00 AA+ Aaa 9/5/2024 9/10/2024 1,506,035.16 3.60 7,184.10 1,505,923.48 1,506,679.50 US TREASURY N/BDTD 11/30/2022 3.875% 11/30/2027
91282CFZ9 625,000.00 AA+ Aaa 12/28/2022 12/29/2022 622,265.63 3.97 8,139.09 623,242.52 630,248.75 US TREASURY N/BDTD 01/03/2023 3.875% 12/31/2027
91282CGC9 3,000,000.00 AA+ Aaa 1/26/2023 1/27/2023 3,035,507.81 3.61 29,378.40 3,023,408.71 3,027,540.00 US TREASURY N/BDTD 01/31/2023 3.500% 01/31/2028
91282CGH8 2,000,000.00 AA+ Aaa 1/31/2023 2/1/2023 1,987,109.38 3.64 11,793.48 1,991,403.90 1,994,766.00 46 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/BDTD 02/28/2023 4.000% 02/29/2028
91282CGP0 1,700,000.00 AA+ Aaa 12/8/2023 12/11/2023 1,684,128.91 4.24 5,823.20 1,687,167.18 1,722,445.10 US TREASURY N/BDTD 05/31/2023 3.625% 05/31/2028
91282CHE4 1,000,000.00 AA+ Aaa 6/29/2023 6/30/2023 977,656.25 4.13 12,182.38 983,363.42 1,001,133.00 US TREASURY N/BDTD 10/02/2023 4.625% 09/30/2028
91282CJA0 425,000.00 AA+ Aaa 10/2/2023 10/4/2023 423,572.27 4.70 54.00 423,830.75 441,302.58 US TREASURY N/BDTD 01/02/2024 3.750% 12/31/2028
91282CJR3 1,600,000.00 AA+ Aaa 1/4/2024 1/5/2024 1,584,062.50 3.97 15,163.04 1,586,240.06 1,609,937.60 US TREASURY N/BDTD 02/29/2024 4.250% 02/28/2029
91282CKD2 650,000.00 AA+ Aaa 3/19/2024 3/20/2024 648,121.09 4.32 2,365.68 648,305.56 667,722.90 US TREASURY N/BDTD 04/01/2024 4.125% 03/31/2029
91282CKG5 1,250,000.00 AA+ Aaa 4/15/2024 4/16/2024 1,220,849.61 4.66 141.66 1,223,281.13 1,277,685.00 US TREASURY N/BDTD 04/01/2024 4.125% 03/31/2029
91282CKG5 825,000.00 AA+ Aaa 5/23/2024 5/24/2024 810,369.14 4.54 93.49 811,335.02 843,272.10 US TREASURY N/BDTD 05/31/2024 4.500% 05/31/2029
91282CKT7 500,000.00 AA+ Aaa 6/10/2024 6/11/2024 500,507.81 4.48 7,561.48 500,481.22 519,668.00 US TREASURY N/BDTD 05/31/2024 4.500% 05/31/2029
91282CKT7 700,000.00 AA+ Aaa 6/6/2024 6/7/2024 706,398.44 4.29 10,586.07 706,032.11 727,535.20 US TREASURY N/BDTD 06/30/2022 3.250% 06/30/2029
91282CEV9 800,000.00 AA+ Aaa 9/26/2024 9/30/2024 790,718.75 3.52 6,570.65 790,723.91 787,937.60 US TREASURY N/BDTD 07/01/2024 4.250% 06/30/2029
91282CKX8 1,150,000.00 AA+ Aaa 7/1/2024 7/5/2024 1,141,195.31 4.42 12,351.56 1,141,581.21 1,182,927.95 Security Type Sub-Total 28,900,000.00 28,358,825.21 3.83 182,699.11 28,560,197.16 28,817,559.39 Supranational
INTL BK RECON & DEVELOPDTD 07/19/2022 3.125% 06/15/2027 459058KJ1 275,000.00 AAA Aaa 7/12/2022 7/19/2022 274,857.00 3.14 2,530.38 274,921.13 271,377.98 Security Type Sub-Total 275,000.00 274,857.00 3.14 2,530.38 274,921.13 271,377.98 Negotiable CD
TORONTO DOMINION BANK NYDTD 10/31/2022 5.600% 10/27/2025 89115B6K1 325,000.00 A A1 10/27/2022 10/31/2022 325,000.00 5.60 17,290.00 325,000.00 330,488.60 47 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Negotiable CD
NORDEA BANK ABP NEW YORKDTD 11/03/2022 5.530% 11/03/2025 65558UYF3 325,000.00 AA- Aa3 11/2/2022 11/3/2022 325,000.00 5.53 7,388.69 325,000.00 330,283.52 NATIXIS NY BRANCHDTD 09/20/2023 5.610% 09/18/2026
63873QP65 500,000.00 A+ A1 9/18/2023 9/20/2023 500,000.00 5.61 1,012.92 500,000.00 516,511.00 CREDIT AGRICOLE CIB NYDTD 02/05/2024 4.760% 02/01/2027
22536DWD6 525,000.00 A+ Aa3 2/1/2024 2/5/2024 525,000.00 4.76 16,590.58 525,000.00 530,210.10 Security Type Sub-Total 1,675,000.00 1,675,000.00 5.33 42,282.19 1,675,000.00 1,707,493.22 Municipal
NY ST URBAN DEV-F-1DTD 12/23/2020 0.870% 03/15/2025
650036DT0 340,000.00 NR NR 12/16/2020 12/23/2020 340,000.00 0.87 131.47 340,000.00 334,285.28 FLORIDA ST BRD OF ADMDTD 09/16/2020 1.258% 07/01/2025
341271AD6 255,000.00 AA Aa3 9/3/2020 9/16/2020 255,000.00 1.26 801.98 255,000.00 248,910.86 CA STDTD 03/15/2023 4.846% 03/01/2027
13063D3N6 265,000.00 AA- Aa2 3/9/2023 3/15/2023 265,000.00 4.85 1,070.16 265,000.00 270,777.53 Security Type Sub-Total 860,000.00 860,000.00 2.24 2,003.61 860,000.00 853,973.67 Joint Powers Authority
CAMP Pool 119,107.53 AAAm NR 119,107.53 0.00 119,107.53 119,107.53 Security Type Sub-Total 119,107.53 119,107.53 0.00 119,107.53 119,107.53 Corporate
BANK OF NY MELLON CORPDTD 10/24/2019 2.100% 10/24/2024
06406RAL1 110,000.00 A A1 1/21/2020 1/28/2020 110,484.00 2.00 1,007.42 110,006.53 109,796.61 PACCAR FINANCIAL CORPDTD 02/06/2020 1.800% 02/06/2025
69371RQ66 80,000.00 A+ A1 10/22/2020 10/29/2020 83,608.80 0.72 220.00 80,293.49 79,148.24 TOYOTA MOTOR CREDIT CORPDTD 02/13/2020 1.800% 02/13/2025 89236TGT6 20,000.00 A+ A1 5/20/2020 5/26/2020 20,195.40 1.58 48.00 20,015.20 19,786.14 TOYOTA MOTOR CREDIT CORPDTD 02/13/2020 1.800% 02/13/2025 89236TGT6 50,000.00 A+ A1 5/20/2020 5/26/2020 50,488.50 1.58 120.00 50,038.00 49,465.35 48 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
HSBC USA INCDTD 03/17/2023 5.625% 03/17/2025
40428HVL3 275,000.00 A- A2 3/9/2023 3/17/2023 274,532.50 5.72 601.56 274,892.22 275,939.68 BURLINGTN NORTH SANTA FE(CALLABLE)DTD 03/09/2015 3.000% 04/01/2025 12189LAV3 110,000.00 AA- A2 3/5/2021 3/9/2021 118,429.30 1.07 1,650.00 110,552.94 109,031.56 BANK OF NY MELLON CORP(CALLABLE)DTD 04/24/2020 1.600% 04/24/2025 06406RAN7 115,000.00 A A1 3/11/2021 3/15/2021 117,725.50 1.01 802.44 115,325.40 113,030.17 CINTAS CORPORATION NO. 2(CALLABLE)DTD 05/03/2022 3.450% 05/01/2025 17252MAP5 70,000.00 A- A3 4/26/2022 5/3/2022 69,984.60 3.46 1,006.25 69,997.00 69,480.81 USAA CAPITAL CORPDTD 05/26/2022 3.375% 05/01/2025
90327QD89 150,000.00 AA Aa1 5/23/2022 5/26/2022 149,509.50 3.49 2,109.38 149,902.36 148,923.90 NATIONAL RURAL UTIL COOPDTD 05/04/2022 3.450% 06/15/2025 63743HFE7 30,000.00 A- A2 4/27/2022 5/4/2022 29,991.90 3.92 304.75 29,998.16 29,781.78 NESTLE HOLDINGS INCDTD 09/13/2022 4.000% 09/12/2025
641062BA1 150,000.00 AA- Aa3 9/6/2022 9/13/2022 149,950.50 4.01 316.67 149,984.36 149,773.50 PNC FINANCIAL SERVICES(CALLABLE)DTD 10/28/2022 5.671% 10/28/2025 693475BH7 105,000.00 A- A3 10/25/2022 10/28/2022 105,000.00 5.67 2,530.68 105,000.00 104,997.38 NATIONAL RURAL UTIL COOPDTD 10/31/2022 5.450% 10/30/2025 63743HFF4 30,000.00 A- A2 10/20/2022 10/31/2022 29,959.80 5.50 685.79 29,985.52 30,386.64 CITIGROUP INC (CALLABLE)DTD 01/25/2022 2.014% 01/25/2026 17327CAN3 60,000.00 BBB+ A3 1/18/2022 1/25/2022 60,000.00 2.01 221.54 60,000.00 59,391.78 STATE STREET CORP (CALLABLE)DTD 01/26/2023 4.857% 01/26/2026 857477BZ5 50,000.00 A A1 1/23/2023 1/26/2023 50,000.00 4.86 438.48 50,000.00 49,945.70 STATE STREET CORP (CALLABLE)DTD 02/07/2022 1.746% 02/06/2026 857477BR3 75,000.00 A A1 2/2/2022 2/7/2022 75,000.00 1.75 200.06 75,000.00 74,116.80 GOLDMAN SACHS GROUP INC(CALLABLE)DTD 02/12/2021 0.855% 02/12/2026 38141GXS8 140,000.00 BBB+ A2 2/12/2021 2/17/2021 140,285.60 0.81 162.93 140,078.12 137,758.88 JPMORGAN CHASE & CO(CALLABLE)DTD 02/24/2022 2.595% 02/24/2026 46647PCV6 100,000.00 A- A1 2/16/2022 2/24/2022 100,000.00 2.60 266.71 100,000.00 99,011.10 49 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
NATIONAL RURAL UTIL COOP(CALLABLE)DTD 02/09/2023 4.450% 03/13/2026 63743HFH0 65,000.00 A- A2 2/2/2023 2/9/2023 64,953.85 4.47 144.63 64,978.37 65,318.11 COMMONWEALTH BK AUSTR NYDTD 03/13/2023 5.316% 03/13/2026 20271RAR1 500,000.00 AA- Aa2 3/6/2023 3/13/2023 500,000.00 5.32 1,329.00 500,000.00 509,155.50 CITIGROUP INC (CALLABLE)DTD 03/17/2022 3.290% 03/17/2026 172967NL1 65,000.00 BBB+ A3 3/10/2022 3/17/2022 65,000.00 3.29 83.16 65,000.00 64,463.94 STATE STREET CORP (CALLABLE)DTD 10/29/2020 2.901% 03/30/2026 857477BM4 200,000.00 A A1 2/17/2022 2/22/2022 204,026.00 2.38 16.12 200,644.59 197,909.60 PACCAR FINANCIAL CORPDTD 03/30/2023 4.450% 03/30/2026
69371RS49 350,000.00 A+ A1 3/27/2023 3/30/2023 349,765.50 4.47 43.26 349,882.97 352,428.30 JPMORGAN CHASE & CO(CALLABLE)DTD 04/26/2022 4.080% 04/26/2026 46647PCZ7 100,000.00 A- A1 4/19/2022 4/26/2022 100,000.00 4.08 1,756.67 100,000.00 99,497.50 UNITEDHEALTH GROUP INC(CALLABLE)DTD 05/19/2021 1.150% 05/15/2026 91324PEC2 250,000.00 A+ A2 5/17/2021 5/19/2021 249,565.00 1.19 1,086.11 249,858.55 239,015.00
AMERICAN HONDA FINANCE
DTD 07/07/2023 5.250% 07/07/2026
02665WEK3 155,000.00 A- A3 7/5/2023 7/7/2023 154,809.35 5.29 1,898.75 154,887.73 157,936.32 MORGAN STANLEYDTD 07/25/2016 3.125% 07/27/2026
61761J3R8 175,000.00 A- A1 12/2/2021 12/6/2021 184,782.50 1.86 972.22 178,840.41 171,865.22 TRUIST FINANCIAL CORP(CALLABLE)DTD 07/28/2022 4.260% 07/28/2026 89788MAH5 105,000.00 A- Baa1 7/25/2022 7/28/2022 105,000.00 4.26 782.78 105,000.00 104,572.65 STATE STREET CORP (CALLABLE)DTD 08/03/2023 5.272% 08/03/2026 857477CD3 195,000.00 A A1 7/31/2023 8/3/2023 195,000.00 5.27 1,656.29 195,000.00 199,099.49 WELLS FARGO BANK NA(CALLABLE)DTD 08/09/2023 5.450% 08/07/2026 94988J6D4 250,000.00 A+ Aa2 8/3/2023 8/9/2023 249,782.50 5.48 2,043.75 249,865.63 255,926.00 TOYOTA MOTOR CREDIT CORPDTD 08/14/2023 5.000% 08/14/2026 89236TKX2 275,000.00 A+ A1 8/9/2023 8/14/2023 274,667.25 5.04 1,795.14 274,792.65 279,955.50 HERSHEY COMPANY (CALLABLE)DTD 08/09/2016 2.300% 08/15/2026 427866AX6 350,000.00 A A1 1/26/2023 1/30/2023 326,788.00 4.34 1,028.61 337,729.50 339,572.10 BANK OF AMERICA NA (CALLABLE)DTD 08/18/2023 5.526% 08/18/2026 06428CAA2 450,000.00 A+ Aa1 8/14/2023 8/18/2023 450,000.00 5.53 2,970.23 450,000.00 462,006.90 50 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
JOHN DEERE CAPITAL CORPDTD 09/08/2023 5.150% 09/08/2026 24422EXD6 300,000.00 A A1 9/5/2023 9/8/2023 299,787.00 5.18 987.08 299,859.18 306,991.80 BANK OF AMERICA CORP(CALLABLE)DTD 10/21/2020 1.197% 10/24/2026 06051GJK6 225,000.00 A- A1 12/2/2021 12/6/2021 219,908.25 1.68 1,174.56 222,848.03 217,115.55 TRUIST FINANCIAL CORP(CALLABLE)DTD 10/28/2022 5.900% 10/28/2026 89788MAJ1 110,000.00 A- Baa1 10/26/2022 10/28/2022 110,000.00 5.90 2,758.25 110,000.00 111,407.78 STATE STREET CORP (CALLABLE)DTD 11/04/2022 5.751% 11/04/2026 857477BX0 45,000.00 A A1 11/1/2022 11/4/2022 45,000.00 5.75 1,056.75 45,000.00 45,596.43 PEPSICO INC (CALLABLE)DTD 11/10/2023 5.125% 11/10/2026
713448FW3 60,000.00 A+ A1 11/8/2023 11/10/2023 59,983.80 5.13 1,204.38 59,988.40 61,531.56 ROCHE HOLDINGS INC (CALLABLE)DTD 11/13/2023 5.265% 11/13/2026 771196CE0 255,000.00 AA Aa2 11/6/2023 11/13/2023 255,000.00 5.27 5,146.54 255,000.00 261,609.35 NATIONAL RURAL UTIL COOP(CALLABLE)DTD 11/02/2023 5.600% 11/13/2026 63743HFK3 115,000.00 A- A2 10/30/2023 11/2/2023 114,959.75 5.61 2,468.67 114,971.25 118,411.25 CITIBANK NA (CALLABLE)DTD 12/04/2023 5.488% 12/04/2026
17325FBC1 250,000.00 A+ Aa3 11/27/2023 12/4/2023 250,000.00 5.49 4,459.00 250,000.00 257,116.50 JP MORGAN CHASE BANK NA(CALLABLE)DTD 12/08/2023 5.110% 12/08/2026 48125LRU8 400,000.00 A+ Aa2 12/5/2023 12/8/2023 400,000.00 5.11 6,415.89 400,000.00 408,954.40 WELLS FARGO BANK NA(CALLABLE)DTD 12/11/2023 5.254% 12/11/2026 94988J6F9 400,000.00 A+ Aa2 12/4/2023 12/11/2023 400,000.00 5.25 6,421.56 400,000.00 409,839.20
AMERICAN HONDA FINANCE
DTD 01/10/2020 2.350% 01/08/2027
02665WDJ7 250,000.00 A- A3 2/6/2023 2/8/2023 230,772.50 4.51 1,354.51 238,858.96 240,454.50 TARGET CORP (CALLABLE)DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 45,000.00 A A2 1/19/2022 1/24/2022 44,923.50 1.99 185.25 44,964.80 43,218.81 TARGET CORP (CALLABLE)DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 155,000.00 A A2 1/28/2022 2/1/2022 154,446.65 2.03 638.08 154,744.42 148,864.79 PNC FINANCIAL SERVICES(CALLABLE)DTD 01/24/2023 4.758% 01/26/2027 693475BL8 40,000.00 A- A3 1/19/2023 1/24/2023 40,000.00 4.76 343.63 40,000.00 40,142.84 51 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
MORGAN STANLEY (CALLABLE)DTD 01/19/2023 5.050% 01/28/2027 61747YEZ4 200,000.00 A- A1 1/17/2023 1/19/2023 199,996.00 5.05 1,767.50 199,997.69 201,850.20 TEXAS INSTRUMENTS INC(CALLABLE)DTD 02/08/2024 4.600% 02/08/2027 882508CE2 310,000.00 A+ Aa3 2/5/2024 2/8/2024 309,801.60 4.62 2,099.39 309,842.84 314,884.36 ELI LILLY & CO (CALLABLE)DTD 02/09/2024 4.500% 02/09/2027 532457CJ5 270,000.00 A+ A1 2/7/2024 2/9/2024 269,856.90 4.52 1,755.00 269,886.63 273,646.89 BRISTOL-MYERS SQUIBB CO(CALLABLE)DTD 02/22/2024 4.900% 02/22/2027 110122EE4 95,000.00 A A2 2/14/2024 2/22/2024 94,897.40 4.94 504.29 94,917.20 96,995.38
ASTRAZENECA FINANCE LLC
(CALLABLE)DTD 02/26/2024 4.800% 02/26/2027
04636NAK9 175,000.00 A+ A2 2/21/2024 2/26/2024 174,706.00 4.86 816.67 174,761.52 178,351.78 CISCO SYSTEMS INC (CALLABLE)DTD 02/26/2024 4.800% 02/26/2027 17275RBQ4 305,000.00 AA- A1 2/21/2024 2/26/2024 304,603.50 4.85 1,423.33 304,678.64 311,625.21 JOHN DEERE CAPITAL CORPDTD 03/07/2022 2.350% 03/08/2027 24422EWD7 125,000.00 A A1 3/8/2022 3/10/2022 124,690.00 2.40 187.67 124,848.79 120,323.63 STATE STREET CORP (CALLABLE)DTD 03/18/2024 4.993% 03/18/2027 857477CL5 210,000.00 A A1 3/13/2024 3/18/2024 210,000.00 4.99 378.64 210,000.00 214,911.06 HORMEL FOODS CORP (CALLABLE)DTD 03/08/2024 4.800% 03/30/2027 440452AK6 150,000.00 A- A1 3/5/2024 3/8/2024 149,854.50 4.84 20.00 149,885.10 152,791.05 BMW US CAPITAL LLC (CALLABLE)DTD 04/01/2022 3.450% 04/01/2027 05565ECA1 150,000.00 A A2 4/1/2022 4/5/2022 150,480.00 3.38 2,587.50 150,236.47 147,292.80
ADOBE INC (CALLABLE)
DTD 04/04/2024 4.850% 04/04/2027
00724PAE9 215,000.00 A+ A1 4/1/2024 4/4/2024 214,892.50 4.87 5,126.85 214,909.15 220,141.08 BANK OF NY MELLON CORP(CALLABLE)DTD 04/26/2023 4.947% 04/26/2027 06406RBQ9 325,000.00 A A1 4/19/2023 4/26/2023 325,000.00 4.95 6,922.36 325,000.00 328,127.15 NORTHERN TRUST CORP(CALLABLE)DTD 05/10/2022 4.000% 05/10/2027 665859AW4 150,000.00 A+ A2 5/11/2022 5/13/2022 151,750.50 3.74 2,350.00 150,900.51 150,211.35
APPLE INC (CALLABLE)
DTD 05/11/2017 3.200% 05/11/2027
037833CR9 250,000.00 AA+ Aaa 5/23/2022 5/25/2022 247,552.50 3.42 3,111.11 248,711.84 246,592.50 USAA CAPITAL CORPDTD 06/03/2024 5.250% 06/01/2027
90327QD97 305,000.00 AA Aa1 5/29/2024 6/3/2024 304,118.55 5.36 5,248.54 304,209.08 313,932.23 52 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
BLACKROCK FUNDING INC(CALLABLE)DTD 07/26/2024 4.600% 07/26/2027 09290DAH4 230,000.00 AA- Aa3 7/17/2024 7/26/2024 229,993.10 4.60 1,910.28 229,993.99 234,411.40 HONEYWELL INTERNATIONAL(CALLABLE)DTD 08/01/2024 4.650% 07/30/2027 438516CX2 160,000.00 A A2 7/29/2024 8/1/2024 159,995.20 4.65 1,240.00 159,995.80 163,186.72 INTEL CORP (CALLABLE)DTD 08/05/2022 3.750% 08/05/2027
458140BY5 225,000.00 BBB+ Baa1 8/5/2022 8/9/2022 224,340.75 3.81 1,312.50 224,624.12 220,468.95 UNILEVER CAPITAL CORP(CALLABLE)DTD 08/12/2024 4.250% 08/12/2027 904764BU0 100,000.00 A+ A1 8/7/2024 8/12/2024 99,733.00 4.35 578.47 99,744.71 100,973.40 HOME DEPOT INC (CALLABLE)DTD 09/14/2017 2.800% 09/14/2027 437076BT8 250,000.00 A A2 2/6/2023 2/8/2023 234,095.00 4.34 330.56 239,790.45 242,865.75 BP CAP MARKETS AMERICA(CALLABLE)DTD 05/17/2024 5.017% 11/17/2027 10373QBY5 380,000.00 A- A1 5/15/2024 5/17/2024 380,000.00 5.02 7,096.27 380,000.00 390,671.16 CITIGROUP INC (CALLABLE)DTD 01/10/2017 3.887% 01/10/2028 172967LD1 175,000.00 BBB+ A3 6/12/2023 6/14/2023 165,800.25 5.19 1,530.51 168,410.39 173,202.58 MASTERCARD INC (CALLABLE)DTD 09/05/2024 4.100% 01/15/2028 57636QBA1 160,000.00 A+ Aa3 9/3/2024 9/5/2024 159,912.00 4.12 473.78 159,914.19 161,141.44 HONEYWELL INTERNATIONAL(CALLABLE)DTD 11/02/2022 4.950% 02/15/2028 438516CJ3 225,000.00 A A2 6/1/2023 6/5/2023 231,572.25 4.26 1,423.13 229,721.13 232,779.15 TEXAS INSTRUMENTS INC(CALLABLE)DTD 11/18/2022 4.600% 02/15/2028 882508BV5 115,000.00 A+ Aa3 5/11/2023 5/18/2023 117,764.60 4.04 675.94 116,951.87 117,397.06 WELLS FARGO & COMPANY(CALLABLE)DTD 03/24/2022 3.526% 03/24/2028 95000U2V4 250,000.00 BBB+ A1 6/1/2023 6/5/2023 235,302.50 4.91 171.40 239,348.78 245,203.50 JPMORGAN CHASE & CO(CALLABLE)DTD 04/25/2017 3.540% 05/01/2028 46647PAF3 250,000.00 A- A1 6/12/2023 6/14/2023 234,055.00 5.03 3,687.50 238,293.08 245,425.75 HERSHEY COMPANY (CALLABLE)DTD 05/04/2023 4.250% 05/04/2028 427866BH0 325,000.00 A A1 5/8/2023 5/10/2023 326,979.25 4.11 5,640.10 326,417.12 329,193.80 53 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
GENERAL DYNAMICS CORP(CALLABLE)DTD 05/11/2018 3.750% 05/15/2028 369550BC1 275,000.00 A A2 6/1/2023 6/5/2023 266,582.25 4.45 3,895.83 268,833.29 272,983.43
AMERICAN EXPRESS CO (CALLABLE)
DTD 07/26/2024 5.043% 07/26/2028
025816DV8 70,000.00 BBB+ A2 7/22/2024 7/26/2024 70,000.00 5.04 637.38 70,000.00 71,501.15 MERCEDES-BENZ FIN NADTD 08/03/2023 5.100% 08/03/2028
58769JAL1 475,000.00 A A2 8/21/2023 8/23/2023 469,015.00 5.39 3,902.92 470,353.22 487,907.65 BMW US CAPITAL LLC (CALLABLE)DTD 08/11/2023 5.050% 08/11/2028 05565ECE3 300,000.00 A A2 8/11/2023 8/15/2023 297,564.00 5.24 2,104.17 298,114.68 307,078.20 COOPERAT RABOBANK UA/NYDTD 01/09/2024 4.800% 01/09/2029 21688ABC5 350,000.00 A+ Aa2 1/17/2024 1/19/2024 349,688.50 4.82 3,826.67 349,728.69 358,870.05 NATIONAL RURAL UTIL COOP(CALLABLE)DTD 02/05/2024 4.850% 02/07/2029 63743HFN7 275,000.00 A- A2 2/7/2024 2/9/2024 275,178.75 4.83 2,000.63 275,158.98 281,906.35
AIR PRODUCTS & CHEMICALS
(CALLABLE)DTD 02/08/2024 4.600% 02/08/2029
009158BH8 350,000.00 A A2 2/8/2024 2/12/2024 349,751.50 4.62 2,370.28 349,781.49 358,282.05 PEPSICO INC (CALLABLE)DTD 07/17/2024 4.500% 07/17/2029
713448FX1 175,000.00 A+ A1 7/22/2024 7/23/2024 174,636.00 4.55 1,618.75 174,648.58 180,019.53 NOVARTIS CAPITAL CORP(CALLABLE)DTD 09/18/2024 3.800% 09/18/2029 66989HAT5 465,000.00 AA- Aa3 9/16/2024 9/18/2024 463,870.05 3.85 638.08 463,879.57 461,728.26 PACCAR FINANCIAL CORPDTD 09/26/2024 4.000% 09/26/2029
69371RT48 90,000.00 A+ A1 9/23/2024 9/26/2024 89,814.60 4.05 50.00 89,815.16 89,712.63 Security Type Sub-Total 16,760,000.00 16,671,910.80 4.43 146,327.53 16,690,089.49 16,878,329.54 Agency CMBS
FHMS K047 A2DTD 07/01/2015 3.329% 05/01/2025
3137BKRJ1 296,778.04 AA+ Aaa 5/19/2022 5/24/2022 298,679.27 3.11 823.31 297,189.59 294,144.43 FHMS K049 A2DTD 10/01/2015 3.010% 07/01/2025
3137BLMZ8 321,662.36 AA+ Aaa 8/11/2022 8/16/2022 317,126.42 3.51 806.84 320,403.09 317,753.20 FHMS K051 A2DTD 12/01/2015 3.308% 09/01/2025
3137BM7C4 145,988.62 AA+ Aaa 8/5/2022 8/10/2022 144,927.92 3.55 402.44 145,654.85 144,372.23 54 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Agency CMBS
FHMS K052 A2DTD 02/01/2016 3.151% 11/01/2025
3137BMTX4 250,000.00 AA+ Aaa 7/21/2022 7/26/2022 247,109.38 3.53 656.46 249,001.90 246,820.25 FHMS K053 A2DTD 03/01/2016 2.995% 12/01/2025
3137BN6G4 250,000.00 AA+ Aaa 8/4/2022 8/9/2022 247,119.14 3.35 623.96 248,948.11 246,286.50 FHMS K054 A2DTD 04/01/2016 2.745% 01/01/2026
3137BNGT5 250,000.00 AA+ Aaa 3/1/2023 3/6/2023 235,429.69 4.90 571.88 243,352.91 245,334.00 FHMS K054 A2DTD 04/01/2016 2.745% 01/01/2026
3137BNGT5 275,000.00 AA+ Aaa 4/11/2023 4/14/2023 263,613.28 4.32 629.06 269,608.09 269,867.40 FNA 2016-M3 A2DTD 03/01/2016 2.702% 02/01/2026
3136ARTE8 157,108.74 AA+ Aaa 10/6/2022 10/12/2022 148,222.29 4.51 353.76 153,416.43 153,914.41 FHMS K057 A2DTD 09/01/2016 2.570% 07/01/2026
3137BRQJ7 300,000.00 AA+ Aaa 5/18/2023 5/23/2023 285,257.81 4.22 642.50 291,557.45 292,694.40 FHMS K736 A2DTD 09/01/2019 2.282% 07/01/2026
3137FNWX4 400,000.00 AA+ Aaa 10/5/2023 10/11/2023 371,140.63 5.05 760.67 381,201.17 388,529.20 FHMS K058 A2DTD 11/01/2016 2.653% 08/01/2026
3137BSP72 450,000.00 AA+ Aaa 4/12/2023 4/17/2023 429,521.48 4.10 994.88 438,404.55 438,678.90 FHMS K061 A2DTD 01/01/2017 3.347% 11/01/2026
3137BTUM1 235,444.25 AA+ Aaa 5/19/2023 5/24/2023 228,196.97 4.29 656.69 230,995.88 231,873.74 FHMS K063 A2DTD 03/01/2017 3.430% 01/01/2027
3137BVZ82 700,000.00 AA+ Aaa 5/18/2023 5/23/2023 679,765.63 4.28 2,000.83 687,234.90 691,620.30 FHMS K065 A2DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 600,000.00 AA+ Aaa 6/12/2023 6/15/2023 573,585.94 4.48 1,621.50 582,441.30 588,987.00 FNA 2017-M12 A2DTD 10/01/2017 3.061% 06/01/2027
3136AX7E9 241,109.33 AA+ Aaa 8/24/2023 8/29/2023 225,427.80 5.09 615.03 229,895.21 235,484.97 FNA 2017-M15 A2DTD 12/01/2017 2.960% 09/01/2027
3136AY6X6 354,707.00 AA+ Aaa 8/24/2023 8/29/2023 330,307.03 4.85 874.94 336,831.44 345,340.60 FHMS K743 A2DTD 06/01/2021 1.770% 05/01/2028
3137H14B9 500,000.00 AA+ Aaa 8/10/2023 8/15/2023 437,617.19 4.68 737.50 452,342.43 463,086.50 FHMS K505 A2DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 700,000.00 AA+ Aaa 7/13/2023 7/20/2023 706,991.60 4.59 2,811.08 705,293.92 718,035.50 FNA 2023-M6 A2DTD 07/01/2023 4.181% 07/01/2028
3136BQDE6 525,556.61 AA+ Aaa 8/22/2023 8/25/2023 505,684.01 5.07 1,831.13 510,130.08 527,469.64 FHMS K508 A2DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 650,000.00 AA+ Aaa 10/11/2023 10/19/2023 635,741.60 5.25 2,567.50 638,248.57 666,337.75 55 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Agency CMBS
FHMS KJ47 A1DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 280,203.11 AA+ Aaa 9/19/2023 9/28/2023 280,201.70 5.27 1,231.03 280,202.12 288,496.84 FHMS K506 A2DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 650,000.00 AA+ Aaa 9/7/2023 9/14/2023 640,384.55 4.99 2,518.75 642,221.07 663,495.95 FHMS K509 A2DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 450,000.00 AA+ Aaa 10/25/2023 10/31/2023 435,652.65 5.60 1,818.75 437,858.91 462,702.15 FHMS K511 A2DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 360,000.00 AA+ Aaa 11/28/2023 12/7/2023 358,965.72 4.93 1,458.00 359,121.45 370,359.00 FHMS K510 A2DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 235,000.00 AA+ Aaa 11/14/2023 11/21/2023 234,320.62 5.14 992.68 234,427.17 243,461.88 FHMS K512 A2DTD 12/01/2023 5.000% 11/01/2028
3137HBCF9 265,000.00 AA+ Aaa 12/11/2023 12/21/2023 267,474.57 4.79 1,104.17 267,123.32 274,026.17 FHMS K514 A2DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 330,000.00 AA+ Aaa 2/1/2024 2/8/2024 333,299.67 4.34 1,257.30 332,903.51 336,204.66 FHMS K518 A2DTD 03/01/2024 5.400% 01/01/2029
3137HC2L5 525,000.00 AA+ Aaa 9/26/2024 9/30/2024 552,644.53 4.05 2,362.50 553,125.06 552,106.80 FHMS K520 A2DTD 04/01/2024 5.180% 03/01/2029
3137HCKV3 295,000.00 AA+ Aaa 4/23/2024 4/30/2024 296,197.41 5.09 1,273.42 296,123.93 307,888.85 FHMS K524 A2DTD 07/01/2024 4.720% 05/01/2029
3137HDV56 520,000.00 AA+ Aaa 7/16/2024 7/25/2024 523,193.32 4.58 2,045.33 523,134.56 533,986.44 FHMS K522 A2DTD 06/01/2024 4.803% 05/01/2029
3137HDJJ0 675,000.00 AA+ Aaa 6/5/2024 6/13/2024 674,997.98 4.80 2,701.69 675,000.00 694,945.57 FHMS K526 A2DTD 08/01/2024 4.543% 07/01/2029
3137HDXL9 495,000.00 AA+ Aaa 8/7/2024 8/15/2024 499,630.23 4.33 1,873.99 499,523.52 504,844.06 FHMS K528 A2DTD 09/01/2024 4.508% 07/01/2029
3137HFNZ4 195,000.00 AA+ Aaa 9/4/2024 9/12/2024 198,896.10 4.06 732.55 198,858.30 198,848.91 Security Type Sub-Total 12,878,558.05 12,607,324.13 4.58 42,352.12 12,711,774.79 12,937,998.20 56 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
KCOT 2021-2A A3DTD 07/28/2021 0.560% 11/17/2025
50117XAE2 22,477.34 NR Aaa 7/20/2021 7/28/2021 22,476.49 0.56 5.59 22,477.12 22,308.56 CARMX 2021-2 A3DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 7,009.64 AAA NR 4/13/2021 4/21/2021 7,008.13 0.52 1.62 7,009.21 6,983.35 TAOT 2021-D A3DTD 11/15/2021 0.710% 04/15/2026
89238JAC9 28,778.36 AAA NR 11/9/2021 11/15/2021 28,777.75 0.71 9.08 28,778.15 28,435.93 HART 2021-C A3DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 17,637.40 AAA NR 11/9/2021 11/17/2021 17,633.47 0.75 5.80 17,635.98 17,474.77 CARMX 2021-3 A3DTD 07/28/2021 0.550% 06/15/2026
14317DAC4 37,405.63 AAA Aaa 7/21/2021 7/28/2021 37,399.47 0.56 9.14 37,403.47 36,870.31 VALET 2021-1 A3DTD 12/13/2021 1.020% 06/22/2026
92868KAC7 30,138.14 AAA Aaa 12/7/2021 12/13/2021 30,136.96 1.02 9.39 30,137.69 29,818.68 COPAR 2021-1 A3DTD 10/27/2021 0.770% 09/15/2026
14044CAC6 30,922.09 AAA Aaa 10/19/2021 10/27/2021 30,921.51 0.77 10.58 30,921.86 30,450.72 GMCAR 2021-4 A3DTD 10/21/2021 0.680% 09/16/2026
362554AC1 26,083.95 AAA Aaa 10/13/2021 10/21/2021 26,083.29 0.68 7.39 26,083.69 25,697.99 HART 2022-A A3DTD 03/16/2022 2.220% 10/15/2026
448977AD0 87,262.55 AAA NR 3/9/2022 3/16/2022 87,259.19 2.22 86.10 87,261.05 86,300.05 WOART 2021-D A3DTD 11/03/2021 0.810% 10/15/2026
98163KAC6 35,593.29 AAA NR 10/26/2021 11/3/2021 35,588.44 0.82 12.81 35,591.29 35,130.50 KCOT 2022-1A A3DTD 03/23/2022 2.670% 10/15/2026
50117EAC8 115,243.61 NR Aaa 3/15/2022 3/23/2022 115,227.12 2.69 136.76 115,236.24 113,938.01 GMCAR 2022-1 A3DTD 01/19/2022 1.260% 11/16/2026
380146AC4 29,959.54 AAA NR 1/11/2022 1/19/2022 29,956.93 1.26 15.73 29,958.39 29,551.97 HDMOT 2022-A A3DTD 04/20/2022 3.060% 02/15/2027
41284YAD8 72,305.11 AAA Aaa 4/12/2022 4/20/2022 72,293.07 3.06 98.33 72,299.19 71,791.02 COMET 2022-A1 A1DTD 03/30/2022 2.800% 03/15/2027
14041NFZ9 325,000.00 AAA NR 3/23/2022 3/30/2022 324,975.50 2.80 404.44 324,987.87 322,155.93 HART 2023-A A3DTD 04/12/2023 4.580% 04/15/2027
448979AD6 220,000.00 AAA NR 4/4/2023 4/12/2023 219,978.53 4.58 447.82 219,986.40 220,239.80 KCOT 2023-1A A3DTD 03/31/2023 5.020% 06/15/2027
50117KAC4 240,000.00 NR Aaa 3/28/2023 3/31/2023 239,962.44 5.08 535.47 239,975.84 241,785.36 HART 2022-C A3DTD 11/09/2022 5.390% 06/15/2027
44933DAD3 178,493.54 AAA NR 11/1/2022 11/9/2022 178,492.68 5.39 427.59 178,493.03 179,577.17 57 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
CARMX 2022-4 A3DTD 10/31/2022 5.340% 08/16/2027
14318UAD3 178,679.95 AAA NR 10/26/2022 10/31/2022 178,638.05 5.35 424.07 178,654.81 179,730.23 MBART 2022-1 A3DTD 11/22/2022 5.210% 08/16/2027
58768PAC8 227,628.07 AAA Aaa 11/15/2022 11/22/2022 227,583.04 5.21 527.09 227,600.72 228,768.25 MBART 2023-1 A3DTD 01/25/2023 4.510% 11/15/2027
58770AAC7 133,119.47 AAA NR 1/18/2023 1/25/2023 133,103.49 4.51 266.83 133,109.09 133,135.71 HDMOT 2023-A A3DTD 02/23/2023 5.050% 12/15/2027
41285JAD0 230,000.00 NR Aaa 2/13/2023 2/23/2023 229,976.84 5.05 516.22 229,984.57 231,008.78 KCOT 2023-2A A3DTD 07/26/2023 5.280% 01/18/2028
500945AC4 175,000.00 NR Aaa 7/18/2023 7/26/2023 174,955.80 5.29 410.67 174,967.45 177,695.35 TAOT 2023-B A3DTD 05/23/2023 4.710% 02/15/2028
891941AD8 270,000.00 NR Aaa 5/16/2023 5/23/2023 269,984.91 4.71 565.20 269,989.24 271,403.19 FORDO 2023-A A3DTD 03/31/2023 4.650% 02/15/2028
344928AD8 180,000.00 AAA NR 3/28/2023 3/31/2023 179,981.23 4.65 372.00 179,987.01 180,450.54 BAAT 2023-1A A3DTD 07/31/2023 5.530% 02/15/2028
06428AAC2 235,000.00 NR Aaa 7/25/2023 7/31/2023 234,991.09 5.53 577.58 234,993.38 238,245.82 GMCAR 2023-2 A3DTD 04/12/2023 4.470% 02/16/2028
362583AD8 180,000.00 AAA Aaa 4/4/2023 4/12/2023 179,995.05 4.47 335.25 179,996.55 180,249.12 BMWOT 2023-A A3DTD 07/18/2023 5.470% 02/25/2028
05592XAD2 115,000.00 AAA NR 7/11/2023 7/18/2023 114,979.62 5.47 104.84 114,984.95 116,428.99 DCENT 2023-A1 ADTD 04/11/2023 4.310% 03/15/2028
254683CY9 225,000.00 NR Aaa 4/4/2023 4/11/2023 224,986.95 4.31 431.00 224,990.85 225,394.20 HART 2023-B A3DTD 07/19/2023 5.480% 04/17/2028
44933XAD9 140,000.00 AAA NR 7/11/2023 7/19/2023 139,993.92 5.48 340.98 139,995.46 142,128.70 BACCT 2023-A1 A1DTD 06/16/2023 4.790% 05/15/2028
05522RDG0 230,000.00 AAA NR 6/8/2023 6/16/2023 229,947.93 4.79 489.64 229,961.62 232,348.53 FORDO 2023-B A3DTD 06/26/2023 5.230% 05/15/2028
344930AD4 200,000.00 AAA NR 6/21/2023 6/26/2023 199,997.30 5.23 464.89 199,998.00 202,414.60 USAOT 2023-A A3DTD 09/15/2023 5.580% 05/15/2028
90291VAC4 520,000.00 AAA Aaa 9/7/2023 9/15/2023 519,909.00 5.58 1,289.60 519,928.53 526,676.80 COMET 2023-A1 ADTD 05/24/2023 4.420% 05/15/2028
14041NGD7 415,000.00 AAA NR 5/17/2023 5/24/2023 414,904.84 4.45 815.24 414,930.71 416,633.44 AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
02582JJZ4 255,000.00 AAA NR 6/7/2023 6/14/2023 254,977.38 4.87 551.93 254,983.34 258,037.31 58 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
ALLYA 2023-1 A3
DTD 07/19/2023 5.460% 05/15/2028
02007WAC2 250,000.00 NR Aaa 7/11/2023 7/19/2023 249,957.38 5.48 606.67 249,967.99 253,316.25 BAAT 2023-2A A3DTD 11/21/2023 5.740% 06/15/2028
06054YAC1 460,000.00 NR Aaa 11/15/2023 11/21/2023 459,991.67 5.76 1,173.51 459,627.85 469,415.28 DCENT 2023-A2 ADTD 06/28/2023 4.930% 06/15/2028
254683CZ6 455,000.00 AAA Aaa 6/21/2023 6/28/2023 454,938.53 4.93 996.96 454,954.11 460,674.76 GMCAR 2023-3 A3DTD 07/19/2023 5.450% 06/16/2028
36267KAD9 140,000.00 AAA Aaa 7/11/2023 7/19/2023 139,994.60 5.45 317.92 139,995.92 142,091.46 HAROT 2023-4 A3DTD 11/08/2023 5.670% 06/21/2028
438123AC5 115,000.00 NR Aaa 11/1/2023 11/8/2023 114,979.75 5.67 181.13 114,983.44 117,669.27 KCOT 2024-1A A3DTD 02/21/2024 5.190% 07/17/2028
50117BAC4 195,000.00 NR Aaa 2/14/2024 2/21/2024 194,992.38 5.19 449.80 194,993.97 198,855.15 TAOT 2023-D A3DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 130,000.00 AAA NR 11/7/2023 11/14/2023 129,985.99 5.54 320.09 129,988.70 133,029.91 FITAT 2023-1 A3DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 475,000.00 AAA Aaa 8/15/2023 8/23/2023 474,970.55 5.53 1,167.44 474,977.09 481,733.60 HDMOT 2023-B A3DTD 09/27/2023 5.690% 08/15/2028
41285YAC9 465,000.00 AAA Aaa 9/20/2023 9/27/2023 464,894.86 5.74 1,175.93 464,196.08 473,733.63 GMCAR 2023-4 A3DTD 10/11/2023 5.780% 08/16/2028
379930AD2 215,000.00 AAA Aaa 10/3/2023 10/11/2023 214,955.84 5.78 517.79 214,964.25 220,113.99 HART 2023-C A3DTD 11/13/2023 5.540% 10/16/2028
44918CAD4 200,000.00 AAA NR 11/3/2023 11/13/2023 199,973.70 5.54 492.44 199,978.32 204,398.80 KCOT 2024-2A A3DTD 06/25/2024 5.260% 11/15/2028
50117DAC0 235,000.00 NR Aaa 6/18/2024 6/25/2024 234,994.36 5.26 549.38 234,994.78 240,921.53 BACCT 2023-A2 A2DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 230,000.00 NR Aaa 12/7/2023 12/14/2023 229,969.11 4.98 509.07 229,974.34 234,602.76 CHAIT 2024-A1 ADTD 01/31/2024 4.600% 01/16/2029
161571HV9 520,000.00 AAA NR 1/24/2024 1/31/2024 519,920.80 4.60 1,063.11 519,931.27 526,554.08 WFCIT 2024-A1 ADTD 03/01/2024 4.940% 02/15/2029
92970QAA3 650,000.00 AAA Aaa 2/21/2024 3/1/2024 649,823.59 4.95 1,337.92 649,890.49 663,526.50 AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
02582JKH2 625,000.00 AAA NR 4/16/2024 4/23/2024 624,871.88 5.23 1,452.78 624,871.88 643,515.00 59 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
COMET 2024-A1 ADTD 09/24/2024 3.920% 09/17/2029
14041NGE5 615,000.00 AAA NR 9/17/2024 9/24/2024 614,879.95 3.92 468.77 614,880.96 614,157.45 Security Type Sub-Total 11,388,737.68 11,387,172.35 4.87 23,487.38 11,386,464.19 11,517,569.10 Managed Account Sub Total 72,737,295.74 71,835,089.49 441,682.32 72,984,301.10Securities Sub TotalAccrued Interest $72,856,403.27 $71,954,197.02 $441,682.32 $73,103,408.63 $441,682.32
72,158,446.76
$72,277,554.29
4.28 4.28%
Total Investments $73,545,090.95
60 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Appendix
|
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bankis a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sourcesexternal to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers arefor illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion ofthe strategy rated by a NRSRO.It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.
Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any salescharges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to belower than the performance shown.The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast,projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion asof the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actualevents occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and datapresented are not necessarily indicative of future events or expected performance.For more information regarding PFMAM's services or entities, please visit www.pfmam.com.© 2023 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 61 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Appendix
|
Important Disclosures
This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buyor sell any fund or other security. Investors should consider the Trust's investment objectives, risks, charges, and expenses before investing in the Trust. This and otherinformation about the Trust is available in the Trust's current Information Sheet, which should be read carefully before investing. A copy of the Trust's information Statement may be available by calling 1-800-729-7665 or is available on the Trust's website at www.camponline.com. While the Cash Reserve Portfolio seeks tomaintain a stable net asset value of $1.00 per share and the CAMP TERM Portfolio seeks to achieve a net asset value of $1.00 per share at the stated maturity, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any othergovernment agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) andSecurities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.
Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimatedmarket value.
In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded.
Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns.
Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets.Money market fund/cash balances are included in performance and duration computations.Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.MBS maturities are represented by expected average life. 62 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Appendix
|
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.Agencies: Federal agency securities and/or Government-sponsored enterprises.Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.
Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, and receivables.
Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector addedor subtracted from the overall portfolio performance.Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compoundingon investment returns, while nominal yield does not.FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.Interest Rate: Interest per year divided by principal amount and expressed as a percentage.Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.Maturity: The date upon which the principal or stated value of an investment becomes due and payable.Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.Par Value: The nominal dollar face amount of a security.Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is themortgage-backed security. 63 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended September 30, 2024
Appendix
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Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments andmaturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whosedecisions are binding on its members.Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.U.S. Treasury: The department of the U.S. government that issues Treasury securities.Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.
YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time periodfrom purchase date to maturity, stated as a percentage on an annualized basis.YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the timeperiod remaining until maturity, stated as a percentage on an annualized basis. 64 ITEM # 24
CITY OF SANTA FE SPRINGS
CITY COUNCIL AGENDA STAFF REPORT
TO: Honorable Mayor and City Council Members
FROM: René Bobadilla, P.E., City Manager
BY: Lana Dich, Director of Finance
SUBJECT: APPROVE PROFESSIONAL SERVICE AGREEMENTS FOR UNIFORMS
AND CUSTOM LOGO APPAREL
DATE: November 12, 2024
RECOMMENDATIONS
It is recommended that the City Council:
1) Approve an agreement with Municipal Emergency Services (MES) in the amount of $40,000 per fiscal year (total amount shall not exceed $80,000 during the initial term); and
2) Approve an agreement with Conceptual Marketing (Conceptual Marketing) in the amount of $40,000 per fiscal year (total amount shall not exceed $80,000 during the initial term); and
3) Authorize the City Manager to exercise the extension options of each agreement, if needed; and
4) Take any additional related action necessary.
FISCAL IMPACT
If approved, Staff will be authorized to purchase services as detailed in the RFP through June 30, 2026. The following table provides an annual cost breakdown of the agreements:
Vendor Year 1 (thru June
30, 2025)
Year 2 (July 1, 2025
thru June 30, 2026)
Year 3 (Optional)
(July 1, 2026 thru
June 30, 2027)
Year 4 (Optional)
(July 1, 2027 thru
June 30, 2028)
Conceptual $40,000 $40,000 $40,000 $40,000
MES $40,000 $40,000 $40,000 $40,000
CITY COUNCIL AGENDA REPORT – MEETING OF NOVEMBER 12, 2024 Approve Professional Service Agreements for Uniforms and Custom Logo Apparel
All agreements will have an initial term through June 30, 2026, and include two (2), one (1) year extension options, exercised at the City Manager’s discretion, for a maximum term through June 30, 2028.
The adopted Fiscal Year 2024-25 budget includes funding for these services primarily within the budget allocations for Public Works. These budgets were developed in consultation with each department/division to determine a likely annual expenditure amount based on prior expenditures and future needs. Therefore, it is not anticipated that a budget adjustment would be needed for FY 2024-25 in relation to these agreements.
The RFP specifications requested alternative methods of acquisition, including rentals.
Although none of the proposals submitted provided options for rentals, Staff contacted and reviewed contracts from at least two (2) vendors that provide uniform rental services.
The estimated cost per employee per week was approximately $3.00 - 4.00 (or $156-208 annually per employee). This included the cost of delivery, restocking, storage receptacles, and laundry services. Along with the recurring weekly fees for services, the City would be subject to fees for damaged, lost/missing items, larger size, and re-sizing fees. In some cases, these fees were equal to the item's original value. In comparison, the cost for purchasing uniforms is $3.37 - $4.70 per employee per week (or $175 – 245 annually per employee).
Despite the potentially lower cost, initiating services would likely take several weeks/months as supervisory and management Staff would want input on the type and style of the uniforms worn. At this time, Staff believes that continuing to purchase uniforms is the best option; however, a thorough cost-benefit analysis will be conducted ahead of the following order cycle.
BACKGROUND
Pursuant to the provisions within the Memorandum of Understanding (MOU) of specific employee bargaining groups, the City must provide uniforms and personal protective equipment to particular job classifications upon hire and ongoing during their employment tenure. A Request for Proposals (RFP) was posted on September 3, 2024, to ensure these items are available when needed. In addition to uniforms, the RFP sought to obtain pricing for custom logo apparel. These are items that are typically worn by Staff who work in the office as well as officials attending various events in representation of the City. This category includes polo shirts, sweaters, jackets, and business casual wear.
The RFP was posted on PlanetBids, and notices were emailed to several prospective bidders, including those within the local area. In addition, print advertising in local media sources was used to advertise the solicitation. The bid closed on Thursday, October 3, 2024, at 2 PM Pacific Time. At the time of closing, the City received a total of seven (7) responses from the following bidders (in alphabetical order):
2meart.com (Rancho Cardova, CA)
Conceptual Marketing (Whittier, CA)
CITY COUNCIL AGENDA REPORT – MEETING OF NOVEMBER 12, 2024 Approve Professional Service Agreements for Uniforms and Custom Logo Apparel
Golden Sun (Chino, CA)
Inkovation (Santa Fe Springs, CA)
Municipal Emergency Services (Santa Fe Springs, CA)
Pristine Uniforms (Rancho Cucamonga, CA)
Sinatra Uniforms (Los Angeles, CA)
After receiving the responses to the RFP, an evaluation committee was formed to review each proposal submission. The evaluation committee comprised of Staff from Public Works and Finance. The responses were evaluated based on the following criteria:
Proposed Fees (40 points)
Experience (30 points)
Reference Checks (20 points)
Responsiveness to RFP (10 points)
Five (5) points local preference was also added to encourage participation by vendors located within the City.
Upon completing the evaluation, follow-up interviews/meetings were conducted with vendors as needed to ensure their ability to perform the necessary services.
DISCUSSION
Upon completing the evaluation of the proposals and conducting interviews, Staff recommends awarding agreements to the following service providers (in alphabetical order):
Conceptual Marketing
MES
The proposals submitted by these vendors demonstrated their ability to provide the items and services described in the work scope. They also confirmed their ability to deliver all requested items or suitable alternatives that match the specifications. It should also be noted that out of the proposals submitted, the proposals selected ranked first and second lowest in total cost. As a result, Staff anticipates an opportunity for cost savings by engaging in this process.
MES has agreed to help the City streamline the uniform ordering process by incorporating new services. At least once annually, they will perform an on-site visit to process annual uniform orders for existing Staff. New employees will be able to visit their store, located in Santa Fe Springs, to place orders. This will help ensure new employees can receive their uniforms shortly after being hired rather than waiting for an extended period.
Staff recommends engaging with two (2) vendors to ensure the continuity of services. If an item is not available from the primary vendor, the secondary vendor can be contacted.
CITY COUNCIL AGENDA REPORT – MEETING OF NOVEMBER 12, 2024 Approve Professional Service Agreements for Uniforms and Custom Logo Apparel
As previously mentioned, the total cost of the remaining proposals was higher than those recommended for selection. In addition, some of the vendors did not have prior experience supplying uniforms for a public agency and/or could not provide the required items or suitable alternatives. These are just a few reasons the remaining proposals were not selected. Although these vendors were not chosen, they will remain in our vendor database and be notified about future opportunities to do business with the City.
SUMMARY/NEXT STEPS
Staff recommends approving professional service agreements with Conceptual Marketing and Municipal Emergency Services for uniforms and custom logo apparel. If approved, the agreements will allow the purchase of services in accordance with the terms, conditions, and pricing identified in the associated RFP.
ATTACHMENTS
A. PSA – Conceptual Marketing
B. PSA – MES
C. Bid Results Summary
ITEM STATUS:
APPROVED:
DENIED:
TABLED:
DIRECTION GIVEN:
REV032024 Page 1 of 24 Conceptual Marketing
CITY OF SANTA FE SPRINGS
PROFESSIONAL SERVICES AGREEMENT
WITH
CONCEPTUAL MARKETING
This Professional Services Agreement (“Agreement”) is made and effective as of November 12, 2024 (“Effective Date”), by and between the City of Santa Fe Springs, a California municipal corporation, (“City”) and Conceptual Marketing, a California Corporation (“Consultant”). For the purposes of this Agreement, City and Consultant may be referred to collectively by the capitalized term “Parties.” The capitalized term “Party” may refer to City or Consultant interchangeably, as appropriate.
RECITALS
WHEREAS, City requires professional consulting services for Uniforms and Custom Logo Apparel (collectively, the “Project”); and
WHEREAS, City staff has determined that Consultant possesses the experience, skills, and training necessary to competently provide such services to City; and WHEREAS, the execution of this Agreement was approved by the City of Santa Fe Springs City Council (“City Council”) at its Regular Meeting of November 12, 2024, under Agenda Item No. _____;
NOW, THEREFORE, for and in consideration of the mutual covenants and conditions herein contained, City and Consultant agree as follows:
AGREEMENT
1. TERM
This Agreement shall commence on the Effective Date and shall remain and continue in effect until June 30, 2026 (“Term”), or until services described herein are completed, unless sooner terminated pursuant to the provisions of this Agreement. This Agreement may be extended for two (2) additional, one (1) year term, if mutually agreed upon in writing.
2. SERVICES
Subject to the terms and conditions of this Agreement, Consultant shall perform the services and tasks described and set forth in the City’s Request for Proposals, attached hereto as Exhibit A, and Consultant’s Proposal, attached hereto as Exhibit B, both incorporated herein as though set forth in full (“Scope of Work”). Consultant further agrees to furnish to City all labor, materials, tools, supplies, equipment, services, tasks and incidental and customary work necessary to competently perform and timely complete the services and tasks set forth in the Scope of Work. Consultant shall complete the services and tasks set forth in the Scope of Work according to any schedule of Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 2 of 24 Conceptual Marketing
performance set forth in Exhibit A. To the extent that Exhibit B contains provisions inconsistent with this Agreement and/or Exhibit A, the provisions of this Agreement and Exhibit A shall govern. For the purposes of this Agreement, the aforementioned services and tasks set forth in the Scope of Work shall hereinafter be referred to generally by the capitalized term “Work.”
3. PERFORMANCE
A. Time is of importance for this Agreement and every provision contained herein.
The Work shall commence upon mutual consent of the Parties subsequent the City’s issuance of a written Notice to Proceed. Consultant shall perform the various tasks identified in, and within the timeframes set forth in, the Scope of Work, and shall complete all of the Work in accordance with the schedule and timeline established by the Parties;
B. Consultant shall, at all times, faithfully, competently and to the best of Consultant’s ability, experience, and talent, perform all tasks described herein. Consultant shall employ, at a minimum, generally accepted standards and practices utilized by persons engaged in providing similar services as are required of Consultant under this Agreement;
C. Consultant shall not claim or be entitled to receive any compensation or damage because of the failure of Consultant, or its subconsultants, to have related services or tasks completed in a timely manner;
D. Consultant shall at all times enforce strict discipline and good order among Consultant’s employees; and
E. Consultant, at its sole expense, shall pay all sales, consumer, use or other similar taxes required by law.
4. PAYMENT OF COMPENSATION
A. Consultant’s total compensation for the performance of all Work contemplated under this Agreement shall not exceed Forty Thousand Dollars ($40,000.00) (the “Not-to-Exceed Sum”), per fiscal year (July 1st – June 30th), during the Term of this Agreement, unless additional payment is first approved as provided in this Agreement. In the event Consultant’s charges are projected to exceed the Notto-Exceed Sum prior to the expiration of this Agreement, City may suspend Consultant’s performance for the relevant Work pending City approval of any anticipated expenditures in excess of the Not-to-Exceed Sum or any other City approved amendment to the compensation terms of this Agreement.
B. Consultant shall not be compensated for any Work rendered in connection with its performance of this Agreement which are in addition to those set forth herein, unless such additional services are authorized in advance and in writing by the City Manager or his/her designee. Consultant shall be compensated for any Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 3 of 24 Conceptual Marketing
additional services in the amounts and in the manner as agreed to in writing by the City and Consultant at the time the City’s written authorization is given to Consultant for the performance of said services.
C. The Not-to-Exceed Sum will be paid to Consultant in monthly increments as the Work is completed. Following the conclusion of each calendar month, Consultant will submit to City an itemized invoice indicating the services performed and tasks completed during the recently concluded calendar month, including services and tasks performed and the reimbursable out-of-pocket expenses incurred. Within thirty (30) calendar days of receipt of each invoice, City will notify Consultant in writing of any disputed amounts included in the invoice. Within forty-five (45) calendar days of receipt of each invoice, City will pay all undisputed amounts included on the invoice. City will not withhold applicable taxes or other authorized deductions from payments made to Consultant.
D. Consultant agrees to participate in the City’s Electronic Funds Transfer program and to receive electronic payments for the Work.
5. ACCOUNTING RECORDS
Consultant will maintain complete and accurate records with respect to all matters covered under this Agreement for a period of three (3) years after the expiration or termination of this Agreement. City will have the right to access and examine such records, without charge, during normal business hours. City will further have the right to audit such records, to make transcripts therefrom and to inspect all program data, documents, proceedings, and activities.
6. TERMINATION OF AGREEMENT WITHOUT CAUSE
A. The City may at any time, for any reason, without cause, suspend or terminate this Agreement, or any portion hereof, by serving upon Consultant at least ten (10) days’ prior written notice. Upon receipt of said notice, Consultant shall immediately cease all Services under this Agreement, unless the notice provides otherwise. If the City suspends or terminates a portion of this Agreement, such suspension or termination shall not make void or invalidate the remainder of this Agreement.
B. In the event this Agreement is terminated pursuant to this section, the City shall pay to Consultant the actual value of the Services performed up to the time of termination, unless the City disputes any of the Services performed or fees. Upon termination of the Agreement pursuant to this section, Consultant will submit an invoice to the City pursuant to Section 5.
7. ABANDONMENT BY CONSULTANT
In the event Consultant ceases to perform the Work agreed to under this Agreement or otherwise abandons the undertaking contemplated herein prior to the expiration of this Agreement or prior to completion of any or all tasks set forth in the Scope of Work, Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 4 of 24 Conceptual Marketing
Consultant will deliver to City immediately and without delay, all materials, records and other work product prepared or obtained by Consultant in the performance of this Agreement. Furthermore, Consultant will only be compensated for the reasonable value of the services, tasks and other Work performed up to the time of cessation or abandonment, less a deduction for any damages, costs or additional expenses which City may incur as a result of Consultant’s cessation or abandonment.
8. CITY’S REPRESENTATIVE
City hereby designates the City Manager (the “City Representative”) to act as its representative for the performance of this Agreement. The City Representative or his/her designee will act on behalf of the City for all purposes under this Agreement.
Consultant will not accept directions or orders from any person other than the City Representative or his/her designee.
9. CONSULTANT REPRESENTATIVE
Consultant hereby designates Jeff Mahlstede, Owner, to act as its representative for the performance of this Agreement (the “Consultant Representative”). Consultant Representative will have full authority to represent and act on behalf of the Consultant for all purposes under this Agreement. Consultant Representative or his/her designee will supervise and direct the performance of the Work, using his best skill and attention, and will be responsible for all means, methods, techniques, sequences and procedures and for the satisfactory coordination of all portions of the Work under this Agreement.
Notice to the Consultant Representative will constitute notice to Consultant.
10. COORDINATION OF SERVICE; CONFORMANCE WITH REQUIREMENTS Consultant agrees to work closely with City staff in the performance of the Work and this Agreement and will be reasonably available to City staff and the City Representative at all reasonable times. All work prepared by Consultant will be subject to inspection and approval by City Representative or his or her designees.
11. STANDARD OF CARE; PERFORMANCE OF EMPLOYEES
Consultant represents, acknowledges and agrees to the following:
A. Consultant will perform all Work skillfully, competently and to the highest standards of Consultant’s profession;
B. Consultant shall at all times employ such force, plant, materials, and tools as will be sufficient in the opinion of the City to perform the Services within the time limits established, and as provided herein. It is understood and agreed that said tools, equipment, apparatus, facilities, labor, and material shall be furnished and said Services performed and completed as required by the Agreement, and subject to the approval of the City’s authorized representative;
C. Consultant will perform all Work in a manner reasonably satisfactory to the City; Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 5 of 24 Conceptual Marketing
D. Consultant will comply with all applicable federal, state and local laws and regulations, including the conflict of interest provisions of Government Code Section 1090 and the Political Reform Act (Government Code Section 81000 et seq.). Consultant shall be liable for all violations of such laws and regulations in connection with Services. If Consultant performs any work knowing it to be contrary to such laws, rules and regulations, Consultant shall be solely responsible for all costs arising therefrom;
E. Consultant understands the nature and scope of the Work to be performed under this Agreement as well as any and all schedules of performance; F. All of Consultant’s employees and agents possess sufficient skill, knowledge, training and experience to perform those services and tasks assigned to them by Consultant; and
G. All of Consultant’s employees and agents (including, but not limited to, subcontractors and subconsultants) possess all licenses, permits, certificates, qualifications and approvals of whatever nature that are legally required to perform the tasks and services contemplated under this Agreement and all such licenses, permits, certificates, qualifications and approvals will be maintained throughout the term of this Agreement and made available to City for copying and inspection.
The Parties acknowledge and agree that Consultant will perform, at Consultant’s own cost and expense and without any reimbursement from City, any services necessary to correct any errors or omissions caused by Consultant’s failure to comply with the standard of care set forth under this Section or by any like failure on the part of Consultant’s employees, agents, contractors, subcontractors and subconsultants. Such effort by Consultant to correct any errors or omissions will be commenced immediately upon their discovery by either Party and will be completed within seven (7) calendar days from the date of discovery or such other extended period of time authorized by the City Representative in writing and in her sole and absolute discretion. The Parties acknowledge and agree that City’s acceptance of any work performed by Consultant or on Consultant’s behalf will not constitute a release of any deficiency or delay in performance. The Parties further acknowledge, understand and agree that City has relied upon the foregoing representations of Consultant, including but not limited to the representation that Consultant possesses the skills, training, knowledge and experience necessary to perform the Work skillfully, competently and to the highest standards of Consultant’s profession.
12. ASSIGNMENT
The skills, training, knowledge and experience of Consultant are material to City’s willingness to enter into this Agreement. Accordingly, City has an interest in the qualifications and capabilities of the person(s) who will perform the services and tasks Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 6 of 24 Conceptual Marketing
to be undertaken by Consultant or on behalf of Consultant in the performance of this Agreement. In recognition of this interest, Consultant agrees that it will not assign or transfer, either directly or indirectly or by operation of law, this Agreement or the performance of any of Consultant’s duties or obligations under this Agreement without the prior written consent of the City. In the absence of City’s prior written consent, any attempted assignment or transfer will be ineffective, null and void and will constitute a material breach of this Agreement.
13. SUBSTITUTION OF KEY PERSONNEL
Consultant has represented to City that certain key personnel will perform and coordinate the Services under this agreement. Should one or more of such personnel become unavailable, Consultant may substitute other personnel of at least equal competence upon written approval of City. In the event that City and Consultant cannot agree as to the substitution of key personnel, City shall be entitled to terminate this Agreement for cause. As discussed below, any personnel who fail or refuse to perform the Services in a manner acceptable to the City, or who are determined by the City to be uncooperative, incompetent, a threat to the adequate or timely completion of the Project or a threat to the safety of persons or property, shall be promptly removed from the Project by the Consultant at the request of the CITY. The key personnel for performance of this Agreement are as follows: See Exhibit B.
14. CONTROL AND PAYMENT OF SUBORDINATES; INDEPENDENT
CONTRACTOR
The Work will be performed by Consultant or under Consultant’s strict supervision.
Consultant will determine the means, methods and details of performing the Work subject to the requirements of this Agreement. City retains Consultant on an independent contractor basis and not as an employee. Consultant reserves the right to perform similar or different services for other principals during the term of this Agreement, provided such work does not unduly interfere with Consultant’s competent and timely performance of the Work contemplated under this Agreement and provided the performance of such services does not result in the unauthorized disclosure of City’s confidential or proprietary information. Any additional personnel performing the Work under this Agreement on behalf of Consultant are not employees of City and will at all times be under Consultant’s exclusive direction and control. Consultant will pay all wages, salaries and other amounts due to such personnel and will assume responsibility for all benefits, payroll taxes, Social Security and Medicare payments and the like.
Consultant will be responsible for all reports and obligations respecting such additional personnel, including, but not limited to: Social Security taxes, income tax withholding, unemployment insurance, disability insurance, workers’ compensation insurance and the like.
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 7 of 24 Conceptual Marketing
15. REMOVAL OF EMPLOYEES OR AGENTS
If any of Consultant’s officers, employees, agents, contractors, subcontractors or subconsultants is determined by the City Representative to be uncooperative, incompetent, a threat to the adequate or timely performance of the tasks assigned to Consultant, a threat to persons or property, or if any of Consultant’s officers, employees, agents, contractors, subcontractors or subconsultants fail or refuse to perform the Work in a manner acceptable to the City, such officer, employee, agent, contractor, subcontractor or subconsultant will be promptly removed by Consultant and will not be reassigned to perform any of the Work.
16. COMPLIANCE WITH LAWS
Consultant will keep itself informed of and in compliance with all applicable federal, state or local laws to the extent such laws control or otherwise govern the performance of the Work. Consultant’s compliance with applicable laws will include, without limitation, compliance with all applicable Cal/OSHA requirements, Federal Labor Standards Provisions including the prevailing wage requirements of the DBRA, and all applicable regulations of the U.S. Department of Housing and Urbanization.
17. NON-DISCRIMINATION
Consultant represents that it is an equal opportunity employer and it shall not discriminate against any subconsultant, employee or applicant for employment because of race, religion, color, national origin, handicap, ancestry, sex or age. Such nondiscrimination shall include, but not be limited to, all activities related to initial employment, upgrading, demotion, transfer, recruitment or recruitment advertising, layoff or termination.
18. INDEPENDENT CONTRACTOR STATUS
The Parties acknowledge, understand and agree that Consultant and all persons retained or employed by Consultant are, and will at all times remain, wholly independent contractors and are not officials, officers, employees, departments or subdivisions of City. Consultant will be solely responsible for the negligent acts and/or omissions of its employees, agents, contractors, subcontractors and subconsultants. Consultant and all persons retained or employed by Consultant will have no authority, express or implied, to bind City in any manner, nor to incur any obligation, debt or liability of any kind on behalf of, or against, City, whether by contract or otherwise, unless such authority is expressly conferred to Consultant under this Agreement or is otherwise expressly conferred by City in writing.
19. INSURANCE
Prior to the beginning of and throughout the duration of the Work, Consultant will procure and maintain policies of insurance that meet the requirements and specifications set forth Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 8 of 24 Conceptual Marketing
in Exhibit C. Consultant will procure and maintain the required insurance coverage, at its own expense.
20. INDEMNIFICATION
A. The Parties agree that City and City’s elected and appointed officials, officers, employees, agents and volunteers (hereinafter, the “City Indemnitees”) should, to the fullest extent permitted by law, be protected from any and all loss, injury, damage, claim, lawsuit, cost, expense, attorneys’ fees, litigation costs, or any other cost arising out of or in any way related to the performance of this Agreement. Accordingly, the provisions of this indemnity provision are intended by the Parties to be interpreted and construed to provide the City Indemnitees with the fullest protection possible under the law. Consultant acknowledges that City would not enter into this Agreement in the absence of Consultant’s commitment to indemnify, defend and protect City as set forth herein.
Notwithstanding the foregoing, to the extent Consultant’s services are subject to Civil Code Section 2782.8, the above indemnity shall be limited, to the extent required by Civil Code Section 2782.8, to Claims that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant.
Consultant’s obligation to indemnify shall not be restricted to insurance proceeds, if any, received by the City, its officials, officers, employees, agents or volunteers.
B. To the fullest extent permitted by law, Consultant shall indemnify, hold harmless and defend the City Indemnitees from and against all liability, loss, damage, expense, cost (including without limitation reasonable attorneys’ fees, expert fees and all other costs, and fees of litigation) of every nature arising out of or in connection with Consultant’s performance of work hereunder or its failure to comply with any of its obligations contained in this Agreement, except such loss or damage which is caused by the sole negligence or willful misconduct of the City.
C. City shall have the right to offset against the amount of any compensation due to Consultant under this Agreement, any amount due to City from Consultant as a result of Consultant’s failure to either pay City promptly for any costs associated with Consultant’s obligations to indemnify the City Indemnitees under this Section, or related to Consultant’s failure to either (i) pay taxes on amounts received pursuant to this Agreement, or (ii) comply with applicable workers’ compensation laws.
D. The obligations of Consultant under this Section will not be limited by the provisions of any workers’ compensation act or similar act. Consultant expressly waives its statutory immunity under such statutes or laws as to City and City’s elected and appointed officials, officers, employees, agents, and volunteers.
E. Consultant agrees to obtain executed indemnity agreements with provisions identical to those set forth herein this Section from each and every subcontractor or any other person or entity involved by, for, with or on behalf of Consultant in Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 9 of 24 Conceptual Marketing
the performance of this Agreement. In the event Consultant fails to obtain such indemnity obligations from others as required herein, Consultant agrees to be fully responsible and indemnify, hold harmless and defend City and City’s elected and appointed officials, officers, employees, agents, and volunteers from and against any and all claims and losses, costs or expenses for any damage due to death or injury to any person and injury to any property resulting from any alleged intentional, reckless, negligent, or otherwise wrongful acts, errors or omissions of Consultant’s subcontractors or any other person or entity involved by, for, with or on behalf of Consultant in the performance of this Agreement. Such costs and expenses shall include reasonable attorneys’ fees incurred by counsel of City’s choice.
F. City does not and shall not waive any rights that it may possess against Consultant because of the acceptance by City, or the deposit with City, of any insurance policy or certificate required pursuant to this Agreement. This hold harmless and indemnification provision shall apply regardless of whether or not any insurance policies are determined to be applicable to the claim, demand, damage, liability, loss, cost, or expense.
G. This Section and all provisions contained herein (including but not limited to the duty to indemnify, defend, and hold free and harmless) shall survive the termination or normal expiration of this Agreement and is in addition to any other rights or remedies which the City may have at law or in equity.
21. TERMINATION WITHOUT CAUSE
City may immediately terminate this Agreement at any time for convenience and without cause by giving prior written notice of City’s intent to terminate this Agreement which notice shall specify the effective date of such termination. Upon such termination for convenience, Consultant will be compensated only for those services and tasks which have been performed by Consultant up to the effective date of the termination. Consultant may not terminate this Agreement except for cause as provided under Section 22, below.
If this Agreement is terminated as provided herein, City may require Consultant to provide all finished or unfinished Documents and Data, as defined in Section 25, below, and other information of any kind prepared by Consultant in connection with the performance of the Work. Consultant will be required to provide such Documents and Data within fifteen (15) calendar days of City’s written request. No actual or asserted breach of this Agreement on the part of City pursuant to Section 22, below, will operate to prohibit or otherwise restrict City’s ability to terminate this Agreement for convenience as provided under this Section.
22. EVENTS OF DEFAULT; BREACH OF AGREEMENT
A. In the event either Party fails to perform any duty, obligation, service or task set forth under this Agreement (or fails to timely perform or properly perform any such duty, obligation, service or task set forth under this Agreement), an event of default (hereinafter, “Event of Default”) will occur. For all Events of Default, the Party Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 10 of 24 Conceptual Marketing
alleging an Event of Default will give written notice to the defaulting Party (hereinafter referred to as a “Default Notice”) which will specify: (i) the nature of the Event of Default; (ii) the action required to cure the Event of Default; (iii) a date by which the Event of Default will be cured, which will not be less than the applicable cure period set forth herein, or if a cure is not reasonably possible within the applicable cure period, to begin such cure and diligently prosecute such cure to completion. The Event of Default will constitute a breach of this Agreement if the defaulting Party fails to cure the Event of Default within the applicable cure period or any extended cure period allowed under this Agreement.
B. Consultant will cure the Event of Default within the following time periods:
i. Within ten (10) business days of City’s issuance of a Default Notice for any failure of Consultant to timely provide City or City’s employees or agents with any information and/or written reports, documentation or work product which Consultant is obligated to provide to City or City’s employees or agents under this Agreement. Prior to the expiration of the 10-day cure period, Consultant may submit a written request for additional time to cure the Event of Default upon a showing that Consultant has commenced efforts to cure the Event of Default and that the Event of Default cannot be reasonably cured within the 10-day cure period. The foregoing notwithstanding, City will be under no obligation to grant additional time for the cure of an Event of Default under this subsection B.i. that exceeds seven (7) calendar days from the end of the initial 10-day cure period; or
ii. Within fourteen (14) calendar days of City’s issuance of a Default Notice for any other Event of Default under this Agreement. Prior to the expiration of the 14-day cure period, Consultant may submit a written request for additional time to cure the Event of Default upon a showing that Consultant has commenced efforts to cure the Event of Default and that the Event of Default cannot be reasonably cured within the 14-day cure period. The foregoing notwithstanding, City will be under no obligation to grant additional time for the cure of an Event of Default under this Subsection B.ii that exceeds thirty (30) calendar days from the end of the initial 14-day cure period.
In addition to any other failure on the part of Consultant to perform any duty, obligation, service or task set forth under this Agreement (or the failure to timely perform or properly perform any such duty, obligation, service or task), an Event of Default on the part of Consultant will include, but will not be limited to the following: (i) Consultant’s refusal or failure to perform any of the services or tasks called for under the Scope of Work; (ii) Consultant’s failure to fulfill or perform its obligations under this Agreement within the specified time or if no time is specified, within a reasonable time; (iii) Consultant’s and/or its employees’ disregard or violation of any federal, state, local law, rule, procedure or regulation; (iv) the initiation of proceedings under any bankruptcy, Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 11 of 24 Conceptual Marketing
insolvency, receivership, reorganization, or similar legislation as relates to Consultant, whether voluntary of involuntary; (v) Consultant’s refusal or failure to perform or observe any covenant, condition, obligation or provision of this Agreement; and/or (vii) CITY’s discovery that a statement representation or warranty by Consultant relating to this Agreement is false, misleading or erroneous in any material respect.
C. City will cure any Event of Default asserted by Consultant within forty-five (45) calendar days of Consultant’s issuance of a Default Notice, unless the Event of Default cannot reasonably be cured within the 45-day cure period. Prior to the expiration of the 45-day cure period, City may submit a written request for additional time to cure the Event of Default upon a showing that City has commenced its efforts to cure the Event of Default and that the Event of Default cannot be reasonably cured within the 45-day cure period. The foregoing notwithstanding, an Event of Default dealing with City’s failure to timely pay any undisputed sums to Consultant pursuant to this Agreement will be cured by City within five (5) calendar days from the date of Consultant’s Default Notice to City.
D. City, in its sole and absolute discretion, may also immediately suspend Consultant’s performance under this Agreement pending Consultant’s cure of any Event of Default by giving Consultant written notice of City’s intent to suspend Consultant’s performance (hereinafter, a “Suspension Notice”). City may issue the Suspension Notice at any time upon the occurrence of an Event of Default. Upon such suspension, Consultant will be compensated only for those services and tasks which have been rendered by Consultant to the reasonable satisfaction of City up to the effective date of the suspension. No actual or asserted breach of this Agreement on the part of City will operate to prohibit or otherwise restrict City’s ability to suspend this Agreement as provided herein.
E. No waiver of any Event of Default or breach under this Agreement will constitute a waiver of any other or subsequent Event of Default or breach. No waiver, benefit, privilege, or service voluntarily given or performed by a Party will give the other Party any contractual rights by custom, estoppel, or otherwise.
F. The duties and obligations imposed under this Agreement and the rights and remedies available hereunder will be in addition to and not a limitation of any duties, obligations, rights and remedies otherwise imposed or available by law. In addition to any other remedies available to City at law or under this Agreement in the event of any breach of this Agreement, City, in its sole and absolute discretion, may also pursue any one or more of the following remedies:
i. Upon written notice to Consultant, the City may immediately terminate this Agreement in whole or in part;
ii. Upon written notice to Consultant, the City may extend the time of performance;
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iii. The City may proceed by appropriate court action to enforce the terms of the Agreement to recover damages for Consultant’s breach of the Agreement or to terminate the Agreement; or
iv. The City may exercise any other available and lawful right or remedy.
Consultant will be liable for all legal fees plus other costs and expenses that City incurs upon a breach of this Agreement or in the City’s exercise of its remedies under this Agreement.
G. In the event City is in breach of this Agreement, Consultant’s sole remedy will be the suspension or termination of this Agreement and/or the recovery of any unpaid sums lawfully owed to Consultant under this Agreement for completed services and tasks.
23. SCOPE OF WAIVER OF DEFAULT
No waiver of any default or breach under this Agreement will constitute a waiver of any other default or breach, whether of the same or other covenant, warranty, agreement, term, condition, duty or requirement contained in this Agreement. No waiver, benefit, privilege, or service voluntarily given or performed by a Party will give the other Party any contractual rights by custom, estoppel, or otherwise.
24. SURVIVING ARTICLES, SECTIONS AND PROVISIONS
The termination of this Agreement pursuant to any provision of this Agreement or by normal expiration of its term or any extension thereto will not operate to terminate any Section or provision contained herein which provides that it will survive the termination or normal expiration of this Agreement.
25. DOCUMENTS & DATA; LICENSING OF INTELLECTUAL PROPERTY All Documents and Data will be and remain the property of City without restriction or limitation upon their use or dissemination by City. For purposes of this Agreement, the term “Documents and Data” means and includes all reports, analyses, correspondence, plans, designs, notes, summaries, strategies, charts, schedules, spreadsheets, calculations, lists, data compilations, documents or other materials developed and/or assembled by or on behalf of Consultant in the performance of this Agreement and fixed in any tangible medium of expression, including but not limited to Documents and Data stored digitally, magnetically and/or electronically. This Agreement creates, at no cost to City, a perpetual license for City to copy, use, reuse, disseminate and/or retain any and all copyrights, designs, and other intellectual property embodied in all Documents and Data. Consultant will require all subcontractors and subconsultants working on behalf of Consultant in the performance of this Agreement to agree in writing that City will be granted the same right to copy, use, reuse, disseminate and retain Documents and Data Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 13 of 24 Conceptual Marketing
prepared or assembled by any subcontractor or subconsultant as applies to Documents and Data prepared by Consultant in the performance of this Agreement.
26. CONFIDENTIALITY
All data, documents, discussion, or other information developed or received by Consultant or provided for performance of this Agreement are deemed confidential and will not be disclosed by Consultant without prior written consent by City. City will grant such consent of disclosure as legally required. Upon request, all City data will be returned to City upon the termination or expiration of this Agreement. Consultant will not use City’s name or insignia, photographs, or any publicity pertaining to the Work in any magazine, trade paper, newspaper, television or radio production or other similar medium without the prior written consent of City.
27. FALSE CLAIMS ACT
Consultant warrants and represents that neither Consultant nor any person who is an officer of, in a managing position with, or has an ownership interest in Consultant has been determined by a court or tribunal of competent jurisdiction to have violated the False Claims Act, 31 U.S.C., Section 3789 et seq. and the California False Claims Act, Government Code Section 12650 et seq.
28. PROHIBITED INTERESTS
Consultant warrants, represents and maintains that it has not employed nor retained any company or person, other than a bona fide employee working solely for Consultant, to solicit or secure this Agreement. Further, Consultant warrants and represents that it has not paid, nor has it agreed to pay, any company or person, other than a bona fide employee working solely for Consultant, any fee, commission, percentage, brokerage fee, gift or other consideration contingent upon or resulting from the award or making of this Agreement. For breach or violation of this warranty, City will have the right to rescind this Agreement without liability. For the term of this Agreement, no member, officer or employee of City, during the term of his or her service with CITY, will have any direct interest in this Agreement, or obtain any present or anticipated material benefit arising therefrom.
29. RELEASE OF INFORMATION
A. All information gained by Consultant in performance of this Agreement shall be considered confidential and shall not be released by Consultant without the City's prior written authorization, unless the information is clearly public. Consultant, its officers, employees, agents, or subconsultants, shall not without written authorization from the City Manager or designee, or unless requested by the City’s attorney, voluntarily provide declarations, letters of support, testimony at depositions, response to interrogatories, or other information concerning the Services performed under this Agreement or relating to the City. Response to a Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 14 of 24 Conceptual Marketing
subpoena or court order shall not be considered “voluntary” provided Consultant gives the City notice of such court order or subpoena.
B. Consultant shall promptly notify the City should Consultant, its officers, employees, agents, and/or subconsultants be served with any summons, complaint, notice of deposition, request for documents, interrogatories, request for admissions, or other discovery request (“Discovery”), court order, or subpoena from any person or party regarding this Agreement and the Services performed hereunder or with respect to any project or property located within the City, unless the City is a party to any lawsuit, arbitration, or administrative proceeding connected to such Discovery, or unless Consultant is prohibited by law from informing the City of such Discovery. The City retains the right, but has no obligation, to represent Consultant and/or be present at any deposition, hearing, or similar proceeding as allowed by law. Unless the City is a party to the lawsuit, arbitration, or administrative proceeding and is adverse to Consultant in such proceeding, Consultant agrees to cooperate fully with the City and to provide the opportunity to review any response to discovery requests provided by Consultant.
However, the City's right to review any such response does not imply or mean the right by the City to control, direct, or rewrite said response, or that the City has an obligation to review any such response or verifies any response it has reviewed.
30. COOPERATION; FURTHER ACTS
The Parties will fully cooperate with one another and will take any additional acts or sign any additional documents as are reasonably necessary, appropriate or convenient to achieve the purposes of this Agreement.
31. SUBCONTRACTING
Consultant will not subcontract any portion of the Work required by this Agreement, except as expressly stated herein, without the prior written approval of City. Subcontracts (including without limitation subcontracts with subconsultants), if any, will contain a provision making them subject to all provisions stipulated in this Agreement, including provisions relating to insurance requirements and indemnification.
32. NOTICES
All notices permitted or required under this Agreement will be given to the respective Parties at the following addresses, or at such other address as the respective Parties may provide in writing for this purpose:
To the City: City of Santa Fe Springs
11710 E. Telegraph Road
Santa Fe Springs, CA 90670
Attention: City Clerk’s Office
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To Consultant: Conceptual Marketing
8222 Catalina Avenue
Whittier, CA 90602
Attn: Jeff Mahlstede, Owner
Such notices will be deemed effective when personally delivered or successfully transmitted by facsimile as evidenced by a fax confirmation slip or when mailed, fortyeight (48) hours after deposit with the United States Postal Service, first class postage prepaid and addressed to the Party at its applicable address.
33. TIME IS OF THE ESSENCE
Time is of the essence for each and every provision of this Agreement.
34. GOVERNING LAW
City and Consultant understand and agree that the laws of the State of California shall govern the rights, obligations, duties, and liabilities of the parties to this Agreement and also govern the interpretation of this Agreement. Any litigation concerning this Agreement shall take place in the municipal, superior, or federal district court with jurisdiction over the City.
35. ENTIRE AGREEMENT
This Agreement contains the entire understanding between the parties relating to the obligations of the parties described in this Agreement. All prior or contemporaneous agreements, understandings, representations, and statements, oral or written and pertaining to the subject of this Agreement or with respect to the terms and conditions of this Agreement shall be of no further force or effect. Each party is entering into this Agreement based solely upon the representations set forth herein and upon each party’s own independent investigation of any and all facts such party deems material.
36. FORCE MAJEURE
The Completion Date shall be extended in the event of any delays due to unforeseeable causes beyond the control of Consultant and without the fault or negligence of Consultant, including but not limited to severe weather, fires, earthquakes, floods, epidemics, quarantine restrictions, riots, strikes, freight embargoes, wars, litigation, and/or acts of any governmental agency, including the City, if the Consultant shall within three (3) calendar days of the commencement of such delay notify the City Representative in writing of the causes of the delay. The City Representative shall ascertain the facts and the extent of delay and extend the time for performing the services for the period of the enforced delay when and if in the judgment of the City Representative such delay is justified. The City Representative’s determination shall be final and conclusive upon the parties to this Agreement. In no event shall Consultant be entitled to recover damages against the City for any delay in the performance of this Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 16 of 24 Conceptual Marketing
Agreement, however caused, Consultant’s sole remedy being extension of the Agreement pursuant to this Section.
37. AMENDMENTS; MODIFICATIONS
No amendment, modification or supplement of this Agreement will be valid or binding unless executed in writing and signed by both Parties, subject to City approval. The requirement for written amendments, modifications or supplements cannot be waived and any attempted waiver will be void and invalid.
38. NON-EXCLUSIVE AGREEMENT
Consultant acknowledges that the City may enter into agreements with other consultants for services similar to the services that are subject to this Agreement or may have its own employees perform services similar to those services contemplated by this Agreement.
39. ATTORNEYS’ FEES
In the event that litigation is brought by any party in connection with this Agreement, the prevailing party shall be entitled to recover from the opposing party all costs and expenses, including reasonable attorneys’ fees, incurred by the prevailing party in the exercise of any of its rights or remedies hereunder or the enforcement of any of the terms, conditions, or provisions hereof.
40. NO THIRD-PARTY BENEFIT
There are no intended third-party beneficiaries of any right or obligation assumed by the Parties. All rights and benefits under this Agreement inure exclusively to the Parties.
41. SUCCESSORS AND ASSIGNS
This Agreement will be binding on the successors and assigns of the Parties.
42. CONSTRUCTION
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises with respect to this Agreement, this Agreement shall be construed as if drafted jointly by the parties and in accordance with its fair meaning. There shall be no presumption or burden of proof favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement.
43. WAIVER
The delay or failure of any party at any time to require performance or compliance by the other of any of its obligations or agreements shall in no way be deemed a waiver of those rights to require such performance or compliance. No waiver of any provision of this Agreement shall be effective unless in writing and signed by a duly authorized Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REV032024 Page 17 of 24 Conceptual Marketing
representative of the party against whom enforcement of a waiver is sought. The waiver of any right or remedy in respect to any occurrence or event shall not be deemed a waiver of any right or remedy in respect to any other occurrence or event, nor shall any waiver constitute a continuing waiver.
44. SEVERABILITY
If any provision of this Agreement is determined by a court of competent jurisdiction to be unenforceable in any circumstance, such determination shall not affect the validity or enforceability of the remaining terms and provisions hereof or of the offending provision in any other circumstance. Notwithstanding the foregoing, if the value of this Agreement, based upon the substantial benefit of the bargain for any party, is materially impaired, which determination made by the presiding court or arbitrator of competent jurisdiction shall be binding, then both parties agree to substitute such provision(s) through good faith negotiations.
45. COUNTERPARTS
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original. All counterparts shall be construed together and shall constitute one agreement.
46. AUTHORITY TO EXECUTE THIS AGREEMENT
The persons executing this Agreement on behalf of the parties warrant and represents that they have the authority to execute this Agreement on behalf of said parties and has the authority to bind the parties to the provisions of this Agreement.
47. ELECTRONIC SIGNATURES
The parties acknowledge and agree that execution of this Agreement by electronic signature or electronic transmittal of signatures shall have the same effect as handwritten signatures for the purposes of validity, enforceability, and admissibility. [SIGNATURE PAGE TO FOLLOW]
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IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed the day and year first above written.
CITY OF SANTA FE SPRINGS CONSULTANT
____________________________ ____________________________ Name: ______________________
Title: _______________________
Date: ______________________ Date: _______________________ ATTEST: CONSULTANT
__________________________ ____________________________ Fernando Munoz, Deputy City Clerk Name: ______________________ Title: _______________________
Date: _______________________
APPROVED AS TO FORM:
_________________________
_____________, City Attorney
Attachments: Exhibit A City’s Request for Proposals
Exhibit B Consultant’s Proposal
Exhibit C Insurance Requirements
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 Jeff Mahlstede
10/27/2024
Owner
EXHIBIT A
CITY’S REQUEST FOR PROPOSALS
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 REQUEST FOR PROPOSALS No. 25 - 4
Uniforms and Custom Logo Apparel
Issue Date: Tuesday, September 3, 2024
Questions Due Date: Tuesday, September 17, 2024 at 2 pm PDT Proposal Due Date: Thursday, October 3, 2024 at 2 pm PDT Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
2 (THIS PAGE INTENTIONALLY LEFT BLANK)
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
3 TO PROSPECTIVE PROPOSERS
The City of Santa Fe Springs (“City”) invites proposal submissions under this Request for Proposals (“RFP”). The City will evaluate responses to this solicitation to determine qualifications. Submissions must adhere to the format and content described. Only proposals that adhere to the requirements will be evaluated. The information set forth is the minimum required to qualify for consideration. The successful Proposer will be required to enter into an agreement based on the specifications outlined in this RFP.
DATE OF SOLICITATION
September 3, 2024
PROJECT
Uniforms and Custom Logo Apparel
PROPOSAL OWNER
City of Santa Fe Springs – Department of Finance
11710 Telegraph Road
Santa Fe Springs, CA 90670
Attn: Lana Dich, Director of Finance
Contact Phone: (562) 868 - 0511
Contact Email: [email protected]
PROPOSAL CONTACT
City of Santa Fe Springs – Department of Finance
11710 Telegraph Road
Santa Fe Springs, CA 90670
Attn: Micah Herd, Procurement Manager
Contact Phone: (562) 868 - 0511
Contact Email: [email protected]
If you have any questions about this RFP, please submit them via the City's PlanetBids Portal by Tuesday, September 17, 2024, at 2 pm PDT.
Proposals must be submitted by Thursday, October 3, 2024, at 2 pm PDT. Prospective proposers must register their business with PlanetBids before being able to submit questions and/or proposals.
To access the City's PlanetBids Portal, please go to:
https://vendors.planetbids.com/portal/65093/bo/bo-detail/121095 Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
4 CONTENTS
I. Notice Inviting Proposals..........................................................................................................5 II. Introduction..................................................................................................................................6 III. About the City of Santa Fe Springs........................................................................................6 IV. Timeline .........................................................................................................................................6 V. Current Process ..........................................................................................................................7 VI. Scope of Work .............................................................................................................................8 VII. Qualifications and Requirements .........................................................................................10 VIII. Proposal Submittal ...................................................................................................................11 IX. Proposal Content and Format ...............................................................................................11 X. Evaluation Criteria ....................................................................................................................12 XI. Proposal Protests .....................................................................................................................13 XII. Execution of Agreement..........................................................................................................14 XIII. Insurance Requirements.........................................................................................................15 XIV. Business License Requirement ............................................................................................17 XV. Use of Federal Funds...............................................................................................................17 XVI. Non-Commitment of City ........................................................................................................18 XVII. Labor Requirements.................................................................................................................18 XVIII. Records .......................................................................................................................................19 XIX. Use of Subcontractors.............................................................................................................19 XX. Modifications/Changes............................................................................................................19 XXI. Disclosure of Information .......................................................................................................19 XXII. Ex-Parte Communications......................................................................................................19 XXIII. General Rights of the City ......................................................................................................20 Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
5 I. Notice Inviting Proposals
The City of Santa Fe Springs seeks proposals from qualified vendors to provide uniforms and custom logo apparel following the specifications, terms, and conditions identified in Request for Proposals (RFP) No. 25 - 4. Prospective respondents are advised to carefully read information related to this opportunity before submitting a response.
To view the complete RFP package, please visit:
https://vendors.planetbids.com/portal/65093/bo/bo-detail/121095
Prospective vendors must register with PlanetBids before being able to view all documentation or submit a response.
Questions must be submitted by Tuesday, September 17, 2024, at 2 pm PDT. *****QUESTIONS MUST BE SUBMITTED VIA PLANETBIDS*****
Proposals must be submitted via PlanetBids by Thursday, October 3, at 2 pm PDT.
Responses to this RFP will be evaluated to determine the Vendor that is the most qualified and responsive to the requirements. Responses must adhere to the format and content described in the RFP.
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
6 II. Introduction
The City of Santa Fe Springs ("City") is soliciting proposals from qualified vendors capable of providing uniforms and custom logo apparel in accordance with the specifications, terms, and conditions identified in this RFP.
Vendors will supply items used primarily by employees assigned to the Department of Public Works. In addition, the City would like to schedule a date/time up to twice annually, for employees to place uniform orders on-site. Custom logo apparel will be available for general employees.
Through this solicitation process, the City hopes to establish a minimum three (3) year agreement, with up to two (2) one (1) year extension options. If deemed beneficial, the City may select multiple vendors to provide this service.
III. About the City of Santa Fe Springs
Santa Fe Springs is located in the southeast of the County of Los Angeles. Though incorporated in May 1957, the City's history dates back to 1871 when Dr. James E. Fulton came to the area and discovered a sulfur spring that was later developed into a health spa. Today, the City has approximately 18,800 residents and over 3,000 businesses.
The City provides a full range of municipal services, including police and fire, street maintenance, water utilities, recreational services, public library, and cultural events.
Additionally, the City is responsible for two (2) other legally separate entities, which include the Successor Agency to the Redevelopment Agency and the Housing Successor Agency to the Housing Authority.
The City's vision statement affirms, "The City of Santa Fe Springs is a great place to live, work, and play." Its mission statement is, "The City of Santa Fe Springs is committed to enhancing the quality of life of its residents and businesses by providing a safe environment, a thriving business community, quality family, youth, and senior services, and sound financial management of the community's resources." The guiding values are as follows:
Personal integrity, honesty, and ethics
Public service
Compassion
Responsibility, accessibility, and accountability
Dedication
IV. Timeline
Release RFP Tuesday, September 3, 2024
Online Q&A Deadline Tuesday, September 17, 2024, 2 pm PDT Deadline to Submit Responses Thursday, October 3, 2024, at 2 pm PDT City Review of Submissions Mid-October 2024
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7 Notifications Sent to Vendors Mid/Late October 2024 Award Late October 2024
V. Current Process
The City's Administrative Policies determine which employees are required to wear uniforms. Furthermore, as part of negotiations with the general employee bargaining group, guidelines are established within the Memorandum of Understanding (MOU) regarding the specific items and maximum quantities that will be purchased annually.
Specific items within the uniform package for employees required to wear uniforms are considered reportable compensation. These items include:
• Shirts
• Pants
• Belts
• Work Boots/Shoes
Attachment A is a copy of the most recent CalPERS Circular Letter regarding Uniform Allowance – Reportable and Non-Reportable Components. Please note that the list in the letter above includes items for public safety personnel outside this solicitation's scope. For the specific items the City requires, please refer to the line-item list associated with this solicitation.
Uniform orders for new employees are initiated shortly before or after their hire dates.
Annual orders for existing employees typically occur around December but can happen anytime during the year. In both cases, employees are issued a voucher that lists the required items. An authorized representative reviews and approves the voucher, which is then taken to the uniform Vendor to redeem the listed items.
Approximately forty-five (45) Public Works employees required uniforms during Fiscal Year 2023 – 24 (July 1, 2023 – June 30, 2024). Currently, the City uses a local vendor (Conceptual Marketing, Santa Fe Springs, CA) to obtain most uniform items and any necessary embroidery.
Some employees within various departments/sections who are not required to wear uniforms can wear city-branded apparel such as polo shirts, sweaters, and light jackets.
These items are not considered reportable compensation and are typically purchased by the department with their manager or director's approval. The City wishes to continue this practice as part of this solicitation and allow employees to buy items at their own expense after providing valid proof of employment with the City.
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
8 VI. Scope of Work
The City is seeking proposals from qualified vendors to provide work uniforms and custom logo apparel on an as-needed basis. The successful Vendor will be responsible for outfitting both men and women with initial uniform items as requested and providing various sizing options. The City intends to purchase all uniform apparel for employees who are required to wear uniforms. The allotment of uniform apparel is based on the job description.
While the City is seeking a vendor that can provide all items identified in the line-item list, it will consider vendors that can provide uniforms and custom logo apparel separately if economically beneficial.
Uniform Requirements
New and existing Public Works employees are typically issued the following quantity of items once per fiscal year:
• Six (6) Shirts
• Six (6) Pairs of pants or shorts
• One (1) Jacket (if needed)
• One (1) Belt
Colors/styles vary by section. The complete list of the required items can be found in the line-item list. The City is seeking the same or similar items that match the style, color, and fabric composition. The manufacturer's name and item/model number have been listed for most items so vendors can reference what is required.
Custom Logo Apparel
Employees who are not required to wear uniforms are occasionally authorized to wear City-branded apparel if approved by their manager and/or director. These items include:
• Polo Shirts
• Jackets
• Sweatshirts
Non-uniform items will not be subject to any measurements and/or alterations.
Measurements/Alterations
The Vendor will be responsible for recording individual measurements and ensuring the proper uniform fit. This will be performed at the Vendor's store location or on-site if conducted in accordance with the delivery of services on date/time scheduled for employees to schedule
The selected Vendor is expected to facilitate alterations if needed. Your response should include general costs for alterations.
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
9 Embroidery/Name Tag/Patches
If needed, the Vendor selected is expected to perform all necessary embroidery and/or furnish and affix all required name tags and patches. All uniform shirts will require embroidery and/or patches. This includes:
• City Logo (See Attachment B)
• Department Name / Section (e.g., "Public Works – Traffic", "Public Works – Street Maintenance")
• Employee Name (e.g., Full Name or Last Name)
Sample embroidery can be found in Attachment C.
In some cases, patches may also need to be added to shirts. The City will provide them if necessary.
Annual On-Site Uniform Orders (Preferred Service)
As part of this process, the City hopes to implement a program allowing uniform orders to be placed on-site. This will help ensure that employees have an opportunity to place their uniform orders and receive the items promptly. The City hopes to schedule a date/time, at least twice annually, for this to occur (ideally in November/December of each year). This will happen at:
City of Santa Fe Springs
Municipal Service Yard
12636 Emmens Way
Santa Fe Springs, CA 90670
The selected Vendor will be required to bring all personnel and materials to implement this segment of the services. The City will provide a suitable workspace.
When responding to this solicitation, the prospective vendors should provide details regarding their capability to perform this service element and any requirements regarding the workspace provided by the City.
This element of the service is preferred. Not being able to facilitate these services will not result in disqualification.
Alternative Items
While the City prefers the specific items listed, alternative items from other manufacturers are acceptable. The alternative item(s) should closely match the preferred item's color, style, fabric composition, etc. The City will also need to inspect the alternative item(s) to ensure they will meet needs.
Store Location/Operating Hours
The ideal Vendor will have a physical location where staff can visit to place orders.
Preferably, the Vendor operates at least one (1) physical store within a reasonable Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
10 radius of the City's Municipal Services Yard (i.e., within ten (10) miles of the City's Municipal Services Yard). City staff that will be using these services usually have work hours on Monday – Thursday between the hours of 5:30 am and 4:00 pm.
The ideal Vendor will have store operating hours within this timeframe to allow personnel to visit and place orders during work hours if needed.
Vendors who do not have a physical store within a radius of the City and/or the preferred operating hours are still encouraged to submit a proposal. Their proposal should detail their alternative method of service delivery, the ordering process, and how it could better fulfill the City's needs compared to the preferred method.
Delivery
The City does not have a preferred method for delivering uniform orders once they have been completed. The selected Vendor may either deliver in person and/or use mail services. No matter the delivery method, the City requires that uniform orders be packaged individually listing recipient's name to avoid mixing orders and ensure the recipient receives all requested items.
Your response to this solicitation should include details regarding the delivery method options.
Please note that the Municipal Services Yard is open Monday through Thursday and closed Friday through Sunday. Deliveries must be scheduled on days the City is open and staff is on hand to receive the items.
Additional Services
If vendors provide additional services outside the scope identified by the City, they are encouraged to provide details regarding these services in their proposal. The additional services should be listed in a separate section, and details should be included about how including such services could further improve the efficiency and effectiveness of the City's delivery of uniforms to staff.
Alternative Services
The specifications detailed in the solicitation are for purchasing uniforms. If a vendor has an alternative solution for providing uniforms, such as rentals, they are encouraged to submit a proposal. The proposal should detail how the alternative option is more beneficial compared to purchasing. Vendors offering an alternative option should still provide the City with all items identified in the list. In addition, vendors offering an alternative should include their pricing on the line-item list.
VII. Qualifications and Requirements
Vendors must clearly demonstrate how they meet the minimum qualifications to be considered. The following is a list of the City's requirements:
Minimum three (3) years of experience providing similar services to a public agency of similar size and functionality as the City of Santa Fe Springs Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
11 Ability to provide services on-site up to twice per year Vendor should describe their experience and qualifications in their proposals to confirm that the above minimum requirements have been met. This should be detailed within their proposal within the section regarding Relevant Experience (See this RFP document, Section IX – Proposal Content and Format for additional details) VIII. Proposal Submittal
Please see Section IX – Proposal Format and Content - for specific details regarding the information that needs to be included in your submission. Failure to provide all requested information may be considered “non-responsive” and rejected.
Responses to this RFP must be submitted electronically via the City's PlanetBids Portal by the deadline. Any responses transmitted and/or time-stamped after the deadline will not be accepted. Vendors should plan to submit responses to this request well before the deadline to avoid technical difficulties/errors.
IX. Proposal Content and Format
Proposal Content
Vendors shall be responsible for preparing a compelling, clear, and concise proposal. The City is requesting proposals, which contain, at a minimum, the following information:
A. Letter of Interest - Please include a letter expressing your interest in being considered for the project. Include a statement regarding availability to dedicate time, personnel, and resources to this effort.
B. Project Understanding and Approach – Include a statement demonstrating your understanding of the City's needs. Describe your general approach to providing services successfully, including methodologies and technologies you would employ. Describe anything you expect the City to provide.
C. Relevant Experience – Include information describing your experience providing similar services for public agencies. Using Attachment D – References, please give contact details for at least three (3) public entities that the City may contact.
At a minimum, the City seeks references that can provide details about recent projects (i.e., completed within the last three (3) years) of similar size, scope, and complexity.
D. Conflict of Interest Statement—The Vendor shall disclose any financial, business, or other relationship with the City that may impact the selection process.
If the Vendor has no such conflicts, a statement declaring such should be included in their submission.
E. Cost Proposal (“Line Items” Tab in PlanetBids) – Please submit your pricing for the requested items and services by visiting the City’s PlanetBids Portal, finding the associated RFP, and clicking the “Line Item” tab. Vendors are invited to submit Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
12 for all or some of the items and services listed. Keep in mind, vendors proving the most comprehensive list will receive preference.
Proposal Format
To facilitate the evaluation process, all responses must adhere to the following format requirements. The City strongly encourages respondents to thoroughly review their proposals before submission to ensure they adhere to the requirements. If the proposal is not formatted or does not include all the listed items/sections, it may be deemed nonresponsive.
Responses shall not exceed twenty (20) pages when printed on 8-½ -11-inch paper. Font Times New Roman Font (preferred), 12pt font size. The twenty (20) page requirement does not include a cover letter/letter of transmittal or any items included as additional attachments. Proposals should also include the following:
A. Title Page showing the request for proposals subject; the Vendor's name; the name, address, email, and telephone number of the contact person; and the date of the proposal.
B. Table of Contents identifying the items/section listed in the “Proposal Content” section of this RFP.
C. Proposal details following the order set forth in the "Proposal Content and Format" section of this RFP.
X. Evaluation Criteria
The City will establish an evaluation committee to review and rate each proposal. The proposal evaluation process will be conducted using a multi-step method, which will include the following steps:
A. Preliminary Proposal Review - The evaluation committee will review each submission to ensure adherence to the minimum/proposal format requirements.
B. Proposal Evaluation - In the second part of this process, the evaluation committee will review and rate proposals based on the following:
1. Proposed fees for services (40 points)
Proposed fees are reasonable
2. Experience of Vendor and Project Personnel (30 points) Experience, resources, and qualifications of the Vendor and assigned individuals to perform tasks identified in the scope of work
3. References Checks (20 points)
Good reference checks from primary and/or secondary source Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
13 4. Responsiveness to RFP (10 points)
Compliance with the required format
Offered new/innovative services, suggestions
Local Vendor Preference
The City is prioritizing local vendors for this solicitation. Eligibility for being considered a local business is based upon physical location within the city limits. To be considered, vendors must submit a copy of their current City of Santa Fe Springs business license listing an address with the city limits. Vendors confirmed to be within the City will be given an additional five (5) points in the evaluation score.
Vendors outside the City of Santa Fe Springs are still highly encouraged to submit a response.
Total Score - 105
Interviews
The City may require the top-rated proposers to participate in an interview if necessary.
The City will email those selected for the interview to schedule a date and time.
XI. Proposal Protests
Proposal Protest Procedures (Before Proposal Opening)
A protest filed before the proposal opening must be filed in writing no later than ten (10) working days before opening. The most common types of protest that might be filed before a proposal opening include those based upon restrictive specifications or alleged improprieties in any solicitation that is apparent before the scheduled proposal opening.
When a protest is filed before a scheduled proposal opening, specific steps must be followed:
A. The protest must be submitted in writing within the specified time frame (no later than ten (10) working days prior to a proposal opening). All protests must be filed with the City’s Director of Finance for determination. Protest must be submitted to the Director of Finance by mail or email within the specified time frame. Protests can be sent to:
Mail:
City of Santa Fe Springs
Attn: Department of Finance – Lana Dich
11710 Telegraph Road
Santa Fe Springs, CA 90670
Or
Email:
[email protected]
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
14 B. The protest must contain factual and legal reason(s) and should recommend a proposed remedy. Nevertheless, it should be noted that the City reserves the right not to implement the proposed remedy but to offer alternative solutions where applicable.
C. Where appropriate, the City will hold an informal conference on the merits of a protest with all interested parties allowed to attend. Interested parties may include all proposers, subcontractors, or suppliers, provided they have a substantial economic interest in a portion of the RFP.
D. All potential proposers will be advised of a pending protest.
E. The City shall not open proposals prior to the resolution of the protest unless it is determined that:
• The items to be procured are urgently required;
• Delivery or performance will be unduly delayed by failure to make the award promptly; or
• Failure to make a prompt award will otherwise cause undue harm to the City.
The City will respond in writing within ten (10) business days after receipt of a properly filed protest. The Director of Finance will respond and include a response to each substantive issue raised in the protest.
After the exhaustion of administrative remedies, the protesting party will be given the City’s final decision. The Director of Finance has the authority to decide on all protests.
Proposal Protest Procedures (After Proposal Opening/Post Award) A protest filed after a proposal opening must be filed within three (3) working days after the aware. The City will grant the protesting party a fair review and shall have up to ten (10) business days to review the protest and render its decision.
XII. Execution of Agreement
If required, the resulting agreement (see attached sample Attachment E) shall be signed by the successful Vendor and return with the required insurance within ten (10) business days after the City issues a notice of intent to award. Failure to execute the agreement and file acceptable insurance documents as provided herein shall cause, at the City's option, for annulment of the award. Please review the insurance requirements and indemnification clause in the attached sample agreement.
Should the successful Vendor decline to execute the agreement, the City can either reject all proposals, accept one of the other proposals, or issue a new solicitation.
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
15 XIII. Insurance Requirements
Any vendor conducting services for the City of Santa Fe Springs must obtain and maintain insurance at their own expense. Insurance must be held until completion of services and formal acceptance by the City. The following insurance placed with an insurer admitted to write insurance in California or a non-admitted insurer on California’s List of Eligible Surplus Lines Insurers (LESL):
A. Commercial General Liability
Commercial General Liability (CGL) (equivalent in coverage scope to Insurance Services Office, Inc. Form CG 00 01) shall cover on an “occurrence” basis for bodily injury and property damage, including premise-operations, productscompleted, broad form property damage, blanket contractual liability, independent contractors, personal injury or bodily injury, and advertising injury with limits no less than $2,000,000 per occurrence. If a general aggregate limit applies, the limit shall be twice the required occurrence limit.
If requested, the "City of Santa Fe Springs, its officials, employees, and agents" must be separately endorsed to the policy as additional insureds on an endorsement equivalent to the Insurance Services Office, Inc. Form CG 20 10 11 85 of CG 20 26 1185.
B. Business Automobile Liability
For owned vehicles, hired, and non-owned vehicles, Insurance Services Office Form CA 00 01 covering, Code 1 (any auto), or if Vendor has not owned autos, Code 8 (hired) and 9 (non-owned) with limit no less than $1,000,000 per accident for bodily injury and property damage.
If an automobile is not necessary to perform services, the Vendor must submit a written request for a waiver of this requirement.
C. Professional Liability or Errors and Omissions
Depending on the work or services to be performed, professional liability or errors and omissions liability insurance may be required. The City will require the Vendor to provide professional liability or errors and omissions liability insurance in an amount not less than $2,000,000 per occurrence or claim. Architects’ and engineers’ coverage shall be endorsed to include contractual liability.
D. Workers' Compensation and Employer's Liability
Workers' Compensation as required by the California Labor Code and Employer's Liability in an amount not less than $1,000,000 per accident for bodily injury or disease.
E. Cyber Liability Insurance (if applicable)
With limits not less than $2,000,000 per occurrence or claim, $2,000,000 aggregate. Coverage shall be sufficiently broad to respond to the duties and Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
16 obligations as is undertaken by Vendor in this agreement and shall include, but not be limited to, claims involving security breach, system failure, data recovery, business interruption, cyber extortion, social engineering, infringement of intellectual property, including but not limited to infringement of copyright, trademark, trade dress, invasion of privacy violations, information theft, damage to or destruction of electronic information, release of private information, and alteration of electronic information. The policy shall provide coverage for breach response costs, regulatory fines and penalties as well as credit monitoring expenses.
F. Technology Professional Liability Errors & Omissions (if applicable) Coverage must be appropriate to Vendor’s profession and work hereunder, with limits not less than $2,000,000 per occurrence. Coverage shall be sufficiently broad to respond to the duties and obligations undertaken by Vendor shall include, but not be limited to, claims involving security breach, system failure, data recovery, business interruption, cyber extortion, social engineering, infringement of intellectual property, including but not limited to infringement of copyright, trademark, trade dress, invasion of privacy violations, information theft, damage to or destruction of electronic information, release of private information, and alteration of electronic information. The policy shall provide coverage for breach response costs, regulatory fines and penalties as well as credit monitoring expenses.
The policy shall include, or be endorsed to include, property damage liability coverage for damage to, alteration of, loss of, or destruction of electronic data and/or information “property” of the City in the care, custody, or control of Vendor.
If not covered under Vendor’s liability policy, such “property” coverage of City may be endorsed onto Vendor’s Cyber Liability Policy as covered property.
Required insurance documentation
A. Certificate of Insurance
The Certificate Holder must be listed as follows:
City of Santa Fe Springs
11710 Telegraph Road
Santa Fe Springs, CA 90670
Attn: Risk Management
B. Endorsements (if requested)
In addition to the Certificate of Insurance, the Vendor must provide the following endorsements:
1. Additional insured endorsements to the general liability and auto liability* insurance policies. The "City of Santa Fe Springs, its officials, employees, and agents" must be endorsed to the Vendor's general liability policy as well as Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
17 the auto liability policy as additional insureds on an endorsement equivalent to ISO forms CG 20 10 11 85 or CG 20 26 11 85.
2. Cancellation notice endorsements. Each policy must be endorsed to cerify that it will be not be cancelled or non-renewed by either party or reduced in coverage or limits (except by paid claims) unless the insurer has provided the City with thirty (30) days prior written notice of cancellation (ten (10) days for cancellation due to nonpayment of premium is acceptable).
3. Primary, non-contributory coverage endorsements. The general liability and professional liability (if required) policies must be endorsed to provide that each policy shall apply on a primary, non-contributing basis with any insurance or self-insurance, primary or excess, maintained by or available to the City or its officials, employees and agents.
C. Waiver and Modifications of the Insurance Requirements The City has the authority to modify these insurance requirements at any time at its discretion.
In general, any contract deemed sole source, professional/professional services, involve the disclosure of proprietary information, and/or a public works project, may require revisions to the City's standard insurance requirements. Any revisions to the insurance requirements will be identified within the associated service contract terms and conditions.
Vendors may request a waiver or modification of these insurance requirements.
Waiver or modification requests must be submitted in writing. The request should state the specific insurance requirement that is being considered for waiver or modification and provided a brief explanation for the request. Requests will be reviewed on a caseby-case basis, and the decision will ultimately depend on the scope of services. The final decision to approve or deny a request will be at the City's legal authority or an authorized designee's discretion.
XIV. Business License Requirement
Vendors that conduct business within city limits may be required to obtain a City of Santa Fe Springs business license if selected. The business license must be acquired before commencing any work. Additional information regarding the City's Business License Program may be obtained by visiting the City's website at:
https://www.santafesprings.org/business/opening_a_business/new_application.php Or by calling the City of Santa Fe Springs Business Support Center at (562) 264 - 5219.
XV. Use of Federal Funds
The City may elect to use funding from Federal sources for a portion of or all expenses related to this project. The United States Federal Government requires purchases of Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
18 items and services to meet specific standards when using Federal funds, including grants, cooperative agreements, contracts, and Federal funds "passed-through" to the City from a non-Federal entity (i.e., sub-recipient agreements). These requirements are codified under the Code of Federal Regulation's (CFR) Title 2, Subtitle A, Chapter II, Part 200 (also referred to as "2 CFR 200" or "Uniform Guidance") and the Federal Acquisition Regulations (FAR), as applicable.
The following standards apply to all purchases of items and services using Federal funds:
Transactions shall be conducted lawfully and ethically Unnecessary/duplicative purchases are not permitted
Utilizing a vendor or supplier on the U.S. Federal Government's Debarred and Suspended List (available at SAM.gov) is prohibited
All individuals involved in the expenditure of federal monies must avoid any actual or apparent conflict of interest
Procurement transactions must be conducted in a manner providing full and open competition
Opportunities should be provided to minority businesses, women's business enterprises, and labor surplus area firms when possible Contracts and purchase orders should include the contract provisions required by 2 CFR 200 Appendix A
Purchases of goods and services must include documentation detailing the procurement history
XVI. Non-Commitment of City
While the City intends to select a Vendor through this process, this intention is subject to change at any time during the process. The City does not commit to awarding an agreement, paying any costs incurred in preparing the proposal for this request, and/or procuring or contracting any items or services.
XVII. Labor Requirements
A. Background: All personnel engaged in the performance of this work shall be employees of the Vendor and, as such, shall be warranted to possess sufficient experience and reliability to perform this work.
B. Health: All personnel engaged in the performance of this work shall be in good health and free of contagious diseases. The Vendor shall not allow any person(s) under the influence of alcohol or drugs on the premises or in the building. Neither shall the Vendor allow the use of or presence of alcohol or drugs on the premises or in the building.
C. Non-Discrimination: The Vendor shall not discriminate in the employment of persons because of race, color, national origin, ancestry, mental/physical disabilities, sex, or religion of such persons.
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
19 D. Conduct: No person(s) shall be employed for this work that is found to be incompetent, disorderly, and troublesome, under the influence of alcohol and drugs, which fails or otherwise refuses to perform the job properly and acceptably or is otherwise objectionable. Any person found to be objectionable shall be discharged immediately and not re-employed for this work.
E. Age: The Vendor will only hire individuals of legal age to work.
XVIII. Records
The Vendor agrees to permit the City Manager or designee access to records, reports, files, and other papers or property of the Vendor to audit any performance aspect under this agreement.
XIX. Use of Subcontractors
The Vendor shall be responsible for all work performed under the final agreement and keep all work under their control. No portion of the work may be subcontracted without the prior written consent of the City. All subcontractors used in this work shall be under the Vendor's direct supervision and be considered their employees. Any approved subcontractors must provide insurance indemnifying the City with limits at or exceeding the limits of the Contractor's insurance.
XX. Modifications/Changes
Changes in the areas serviced and/or specifications may be necessary during the agreement term. Changes in the agreement requirements and corresponding changes in compensation may be implemented upon mutual understanding between the City and the Vendor. These changes will be processed by the City Manager.
XXI. Disclosure of Information
A. The Vendor agrees that it will not, during or after the term of the agreement, disclose any proprietary information or confidential business information of the City, including but not limited to its costs, charges, operating procedures, or methods of doing business to any person, Vendor, corporation, association, or other entity or the general public for any reason or purpose whatsoever, without the prior written consent of the City. Such confidential or proprietary information received by the Vendor shall be used exclusively in connection with the performance of services.
B. The Vendor shall not issue or release for publication any articles, advertising, or publicity matters relating to the services performed by the Vendor hereunder or mentioning or implying the name of the City or its respective personnel without the prior written consent of the City.
XXII. Ex-Parte Communications
Vendors and their representatives should not engage in unauthorized communications with elected officials, officers, employees, or agents of the City about this RFP. This Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 RFP 25-4 Uniforms and Custom Logo Apparel
20 requirement includes any evaluation panel member, except for designated RFP facilitators. This requirement remains in effect until after award notifications have been made.
This restriction does not prohibit vendors and their representatives from making oral statements or presentations to City representatives during a scheduled public meeting.
XXIII. General Rights of the City
At its discretion, the City reserves the right to:
A. Reject any and/or all proposals for no reason or any reason including, but not limited to, the following:
1. The proposal is incomplete, non-responsive, obscure, irregular, or lacking necessary detail and specificity.
2. The Vendor, in the sole judgment of the City, lacks the qualifications, experience, and/or responsibility necessary to provide the services.
3. The Vendor failed or neglected to complete and submit any information within the time specified by the City and as may be otherwise required herein.
B. Reject any proposal that, in the opinion of the City, is so unbalanced in comparison to other proposals received and/or to the City’s internal estimates that it does not accurately reflect the cost to perform; C. Accept all or any part of a proposal;
D. Make multiple awards;
E. Cancel the entire RFP;
F. Issue subsequent RFPs; or
G. Waive any errors or informalities in any proposal to the extent law permits.
PLEASE REVIEW
Attachment A – CalPERS Uniform Guidelines
Attachment B – City Logo
Attachment C – Embroidery (Sample)
Attachment D – References
Attachment E – Sample PSA
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 California Public Employees’ Retirement System
P.O. Box 942715 | Sacramento, CA 94229-2715
888 CalPERS (or 888-225-7377) | TTY: (877) 249-7442
www.calpers.ca.gov
Special Compensation
Circular Letter
October 30, 2019
Circular Letter: 200-050-19
Distribution: IV, V, VI, X, XII, XVI
To: All CalPERS Employers
Subject: Uniform Allowance – Reportable and Nonreportable Components Purpose
The purpose of this Circular Letter is to inform CalPERS contracting employers on a form of special compensation, the uniform allowance, reportable to CalPERS pursuant to Government (Gov.) Code section 20636 and 20636.1, and section 571 the California Code of Regulations (CCR) (Uniform Allowance), which pertains only to classic CalPERS members. This Circular Letter supersedes and replaces Circular Letter No. 200-045-02, dated July 9, 2002.
Definition of Uniform Allowance
Uniform allowance is defined in subdivision (a)(5) of CCR section 571 as the following:
“Uniform Allowance – Compensation paid or the monetary value for the purchase, rental and/or maintenance of required clothing, including clothing made from specially designed protective fabrics, which is a ready substitute for personal attire the employee would otherwise have to acquire and maintain. This excludes items that are solely for personal health and safety such as protective vests, pistols, bullets, and safety shoes.” Reportable Uniform Allowance Items
Compensation paid or the monetary value for the purchase, rental and/or maintenance of required clothing, which is a ready substitute for personal attire the employee would otherwise have to acquire and maintain, is reportable to CalPERS as a uniform allowance, under the designation of statutory item as special compensation.
Docusign Envelope ID: 4D9F9C7A-0099-4DE5-9035-DAEA3EA6F181 Circular Letter: 200-050-19
October 30, 2019