Agenda packet, regular meeting — Santa Paula City Council, May 17, 2023 (part 1 of 2)

City of Santa Paula
City Council

MAYOR ANDY SOBEL

VICE MAYOR LESLIE CORNEJO

COUNCILMEMBER JENNY CROSSWHITE

COUNCILMEMBER CARLOS JUAREZ
COUNCILMEMBER PEDRO A. CHAVEZ

CITY COUNCIL REGULAR MEETING OF THE

SANTA PAULA CITY COUNCIL
WEDNESDAY, MAY 17, 2023
6:30 PM - City Council Regular Meeting

SANTA PAULA CITY HALL
970 VENTURA STREET
SANTA PAULA, CA 93060

JULIE LATSHAW, CITY CLERK

DAN SINGER, CITY MANAGER

MONICA CASTILLO, INTERIM CITY ATTORNEY
City of Santa Paula - City Council - City Council Regular Meeting 1

BRINGING ITEMS BEFORE THE CITY COUNCIL
You are invited to participate in all Regular City Council meetings. Agendas are posted in the front of Santa Paula City Hall, 970 Ventura Street, Santa Paula, 72 hours in advance of the scheduled meetings. The City Council's regular meetings start at 6:30 p.m. the first and third Wednesday of each month in the City Hall Council Chambers located at 970 Ventura Street in Santa Paula.

HOW TO PARTICIPATE IN PERSON DURING THE MEETING: If you wish to speak at a City Council meeting, please fill out a Public Comment Form noting your name and address and submit the form to the City Clerk. Include the Agenda item number, when appropriate. Public comments are limited to 3 minutes.

1. Items Not on the Agenda: If you wish to discuss an item which is not scheduled on the Agenda, you may address the City Council during Public Comment. Please realize that due to the limitations placed on the City Council by provisions of the California Government Code, the City Council ordinarily cannot take action on any item that is not on the agenda. Because of these restrictions, expect that matters that you identify during public comment may be referred to staff or considered on a future agenda.

2. Agenda Items: Items being considered by the City Council may appear on the Consent Calendar, as an Action Item, or as a Public Hearing. Public comments on each type of item are handled differently, as explained below:
a. For items appearing on the Consent Calendar, please submit a Public Comment Form before the Council takes action on the Consent Calendar. Items that receive a Public Comment Form may be pulled from the Consent Calendar by the Mayor and discussed separately by the City Council.
b. For items appearing as an Action Item, the Mayor will announce the Agenda item and request the staff report, the staff member responsible will give a brief summary of the report; the City Council will have an opportunity to ask questions of staff; members of the public will be given an opportunity to comment on the item and ask additional questions (all members of the public should speak directly into the microphone at the speaker’s platform); and the City Council will discuss the item and then take appropriate action.
c. For items on which a Public Hearing is scheduled, the Mayor will open the public hearing and receive the staff report; members of the public will be given an opportunity to comment on the item and ask additional questions (all members of the public should speak directly into the microphone at the speaker’s platform); the City Council will discuss the item; and the Mayor will close the public hearing after City Council action.

HOW TO PARTICIPATE BEFORE THE MEETING: Members of the public are encouraged to submit email correspondence on any agenda item by sending an email to [email protected]. All public correspondence received by 3:00 p.m. (PT) on the meeting date will be provided to the legislative body before the meeting. Public Comments received after 3:00 p.m. will be provided to the legislative body the next day.

Your Participation in this meeting is in the public domain; meetings are cablecast; minutes of this meeting will reflect your participation in this meeting and are posted on the city’s website.

PLEASE NOTE: Be advised that if you bring a legal challenge to an action, you may be limited to raising only those issues you or someone else raised at the meeting described in this Agenda, or in written correspondence delivered to the City Council at or before the meeting.

Any action is subject to the ninety-day time period set forth in Code of Civil Procedure § 1094.6.

City of Santa Paula - City Council - City Council Regular Meeting 2

1. CALL TO ORDER
REMINDER: in order to minimize distractions during public meetings, all personal communication devices should be turned off or put in a non-audible mode.

2. INVOCATION

3. FLAG SALUTE

4. ROLL CALL

5. CLOSED SESSION REPORT

6. PUBLIC COMMENT
At this time, members of the public may comment on any item not appearing on the agenda that is within the subject-matter jurisdiction of the City Council. A Public Comment Form must be submitted to the City Clerk prior to the beginning of the Public Comment period in order to be recognized to speak. Individuals submitting Public Comment Forms after the beginning of the Public Comment period will not be allowed to speak at this time, but may be recognized to speak by the Mayor at the conclusion of the meeting. Individual Councilmembers may briefly respond to Public Comments or ask questions for clarification. The City Council may direct staff to report to the City Council on the item at a later meeting. For items appearing on the Agenda, the public will be invited to make comments at the time the item comes up for City Council consideration. If a member of the public wishes to address a Consent Calendar item, please submit a Public Comment Form for that item. It may then be discussed separately by the Council, and the public will be invited to make comments at that time. At all times, please use the microphone and write your name and address on the Public Comment Form provided.

7. PRESENTATIONS

7.A MENTAL HEALTH MONTH PROCLAMATION

7.B ALL CHILDREN THRIVE PRESENTATION ON PROPOSED

IMPROVEMENTS TO THE YOUTH CENTER AT LAS PIEDRAS PARK

7.C ATHENS DIVERSION AND BIN USE PRESENTATION

7.D VENTURA COUNTY TRANSIT INTEGRATION & EFFICIENCY STUDY - Presented by Martin Erickson, Executive Director, Ventura County Transportation Commission
In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the City Clerk at (805) 933-4208. Notification 48 hours before the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting. (28 CFR 35, 102-35.104 ADA Title II). Written materials distributed to the City Council within 72 hours of the City Council meeting are available for public inspection immediately upon distribution in the City Clerk’s office.

REGULAR MATTERS - COUNCIL CHAMBERS
City of Santa Paula - City Council - City Council Regular Meeting 3

7.E COMMUNITY & ECONOMIC DEVELOPMENT DEPARTMENT QUARTERLY REPORT (JANUARY – APRIL 2023)
RECOMMENDATION:

Staff recommends City Council receive and file report.

8. CITY COUNCIL REPORTS

9. CITY MANAGER REPORTS

10. CONSENT CALENDAR
Background information has been provided to the City Council on all matters listed under the Consent Calendar and these items are considered to be routine by the City Council and are normally approved by one motion. If discussion is requested by a Councilmember on any item, or a member of the public wishes to comment on an item, that item may be removed from the Consent Calendar for separate action.

10.A APPROVAL OF MINUTES
City Council Special Minutes for May 2, 2023
City Council Regular Minutes for May 2, 2023
City Council Special Minutes for May 10, 2023

10.B APRIL 2023 WARRANTS AND CERTIFICATIONS
RECOMMENDATION:

Staff recommends that the City Council:

1. Review and accept the "Certification of Accounts Payable" for the accounts payable payment cycles for April 2023, starting check number 333829 and ending check number 334075.

2. Review and accept the "Certification of Salaries" for the pay period ending dates April 7th, 2023 through April 21st, 2023.

10.C QUARTERLY INVESTMENT REPORTS
RECOMMENDATION:

Staff recommends that the City Council receive and file the Quarterly Investment Reports for Q3 of FY 22/23.

10.D AGREEMENT WITH SANTA PAULA UNIFIED SCHOOL DISTRICT FOR THE 2023 SUMMER CAMP PROGRAM
RECOMMENDATION:

Staff recommends that the City Council:

1. Approve an Agreement with the Santa Paula Unified School District for Summer Camp Program 2023.

2. Authorize a budget adjustment of $200,750 in new revenue and $200,750 in new expenditures in the General Fund.

City of Santa Paula - City Council - City Council Regular Meeting 4

10.E PROCLAMATIONS, CERTIFICATES OF RECOGNITION, AND CITY

MEMBORABILIA POLICY
RECOMMENDATION:

Staff recommends that City Council:

1. Adopt Resolution No. 7453, establishing a policy regarding proclamations, certificates of recognition, and city memorabilia.

10.F FOURTH AMENDMENT TO PROFESSIONAL SERVICES AGREEMENT WITH WILLDAN FINANCIAL SERVICES FOR CFD NO. 1 SPECIAL

ASSESSMENT TAX BONDS ADMINSTRATIVE AND AUDITING SERVICES RECOMMENDATION:

It is recommended that the City Council:

1. Authorize the City Manager to amend the Willdan Financial Services Contract for auditing services to $89,650, an increase of $30,000.

2. Allocate $89,650 to the CFD professional services budget 504-5-6002- 209.

10.G SENIOR NUTRITION PROGRAM GRANT AUTHORIZATION RESOLUTION NO. 7456
RECOMMENDATION:

Staff recommends that the City Council:

1. Adopt Resolution No. 7456 authorizing staff to submit an application for grant funding under the Older Americans Act for the Senior Nutrition Program.

2. Authorize the City Manager or designee to sign all required submittals.

11. ACTION ITEMS

11.A
RE-INTRODUCTION OF ORDINANCE NO. 1329 AMENDING SECTION

16.13.410 OF THE SANTA PAULA MUNICIPAL CODE REGARDING THE

USE OF AFFORDABLE HOUSING TRUST FUND MONIES FROM

HOUSING IN-LIEU FEE PAYMENTS
RECOMMENDATION:

Staff recommends the City Council re-introduce and waive first reading of Ordinance No. 1329, entitled, "AN ORDINANCE OF THE SANTA PAULA CITY COUNCIL AMENDING SECTION16.13.410, AFFORDABLE HOUSING

TRUST FUND, TO PROVIDE MORE CLARITY IN THE PROCESS AND USE OF AFFORDABLE HOUSING TRUST FUNDS FROM THE HOUSING INLIEU PAYMENTS."

11.B AXON BODY WORN CAMERA CONTRACT AWARD
RECOMMENDATION:

City of Santa Paula - City Council - City Council Regular Meeting 5 Staff recommends that the City Council:

1. Waive the requirement that Axon be the lowest responsible bidder based on a finding that entering a second five-year contract with Axon for Body Warn Cameras (BWCs) is "desirable" for reasons described in staff's report.

2. Award Axon a five-year contract for Axon BWCs.

3. Authorize the City Manager or his designee to execute the Axon purchase agreement (Attachment A) and any documents necessary to implement agreement.

12. ITEMS FOR FUTURE AGENDAS

12.A FUTURE AGENDA ITEMS
RECOMMENDATION:

Staff recommends City Council Review Future Agenda Items.

Presented by: Dan Singer, City Manager

13. ADJOURNMENT
State of California )-
County of Ventura )- ss
City of Santa Paula )-
I declare under penalty of perjury that I posted this City Council Agenda on the bulletin board near the front door of City Hall, 970 Ventura Street, Santa Paula, California.

On_________________ at______________Signed:_________________________ Julie Latshaw
City Clerk
City of Santa Paula - City Council - City Council Regular Meeting 6 To: Honorable Mayor and Members of the City Council
From: James Mason, Community & Economic Development Director Subject:

COMMUNITY & ECONOMIC DEVELOPMENT DEPARTMENT
QUARTERLY REPORT (JANUARY – APRIL 2023)
Date: May 17, 2023
Agenda Item: 7.E

CITY OF SANTA PAULA

MEMORANDUM
RECOMMENDATION:

Staff recommends City Council receive and file report.

BACKGROUND:

STAFF UPDATES
The department coordinated with Human Resources to successfully recruit and fill the vacant Community Development Technician position, and Noah Zeker started on January 17 and will continue to work with Human Resources on recruitment and advertising strategies to fill two vacant positions, Building Inspector I and Assistant Planner.

PLANNING DIVISION
2021-2029 Housing Element Update
City Council adopted the revised Housing Element in May 2022 and staff resubmitted to HCD.

Planning received additional comments from HCD in August 2022; which, similar to multiple cities throughout the state, requested an unprecedented level of detail. Many of the comments also clearly showed that HCD simply overlooked the corrections made in the resubmittal. The letter of support from the Santa Paula Affordable Housing Task Force, which was included with the resubmittal, also seemed to be disregarded in HCD’s review.

Now nearly two years past the original 2021 due date for Housing Element updates, only five of the eleven jurisdictions in Ventura County have received certification from HCD – one of which is the County itself.

Planning staff, along with the City’s Housing Element consultant, met with the Santa Paula Affordable Housing Task Force in April to review the document and the amended Housing Element was published for review and public comment. The amended document was sent to the state on May 5 and staff is confident it will be certified by the Housing and Community 7 Development following their review.

PLANNING COMMISSION ACTIVITY JANUARY - APRIL
January 24, 2023:

Adopted Resolution No. 3845 approving the Affordable Housing Plan for Project No. 22-CDP01, the 298-unit apartment complex entitled by-right at 18004 E. Telegraph Rd., allowing modification of the codified inclusionary housing requirements for the project as permitted by SPMC § 16.13.407.

Appointed Commissioner Noel Kiesewetter as Planning Commission representative to an ad hoc committee reviewing proposals for a citywide wayfinding program.

February 28, 2023:

Commissioners requested a date-specific continuance (to March 28, 2023) of the public hearing to adopt Resolution No. 3846 recommending the City Council consider adoption of an amendment to SPMC Chapter 16.13.410: Affordable Housing Trust Fund , which seeks to provide more flexibility in the use of Affordable Housing Trust Funds from Housing In-Lieu Fee payments. Staff will return with more information and clerical changes, following additional discussion with the Santa Paula Affordable Housing Task Force.

Appointed Austin Auger as Planning Commissioner. Jason Herber and Noel Kiesewetter reappointed as Planning Commissioners.

March 28, 2023:

Commissioner Aaron Dunkel installed as Chairperson. Commissioner Grace Kelly installed as Vice-Chairperson.

Reopened the public hearing continued from February 28, 2023, discussed and adopted revised Resolution No. 3846 recommending the City Council consider adoption of an amendment to SPMC Chapter 16.13.410: Affordable Housing Trust Fund to provide more flexibility in the use of Affordable Housing Trust Funds from Housing In-Lieu Fee payments; and find that it is exempt from CEQA.

Adopted Planning Commission Resolution No. 3847 recommending the City Council consider adoption of an Ordinance amending SPMC Chapter 16.44 to include language restricting barbed wire and razor-edged wire use in fencing materials; and find the Ordinance exempt from CEQA. (The previous codified language restricting barbed and razor-edged wire was inadvertently removed during a recent code update permitting electrified fencing in certain zones.)
April 25, 2023:

Regular meeting was canceled, as no items were ready for public hearing and no other business was scheduled. Staff arranged a training session for the Commissioners on parliamentary procedure and the Brown Act, provided by BB&K via Zoom and held during the regular meeting time.
8 SPECIFIC PLAN UPDATES
Santa Paula West Business Park Specific Plan (SP-6)
The Project is within the West Area 2 Expansion Area as designated by the Santa Paula General Plan on the western edge of the City of Santa Paula and consists of ±54 acres of the 125-acre Expansion Area. The land uses envisioned within the Specific Plan will be a mix of low-intensity industrial (such as light manufacturing or research and development), professional offices, and supporting commercial businesses.

The applicant’s contracted engineer and environmental consultant has amending the environmental report, the application, and the Specific Plan based on modification required by the County Watershed Protection District. Staff is currently reviewing the updated Specific Plan, Tentative Map and supporting reports. Plans are to submit the updated application for annexation to LAFCo Q3 2023.

East Area Specific Plan - Harvest Development
Approved project includes 1,500 new dwelling units of different types on approximately 500- acres. Construction continues on residential units and the first phase of development (586 units) is nearing completion. The project submittal for Phase II is under review and the tentative tract map was approved by City Council. The Santa Paula Creek bridge plans are being prepared for review by the city and initial submittals have been approved by the Army Corp of Engineers and county watershed protection (estimated completion spring 2024).

Phase I of the Sports Park is nearly completed with opening planned Q3 2023. Negotiations for an amended development agreement are underway to address Lewis’ plans to add an additional 550 homes.

East Gateway Specific Plan
Staff is reviewing the concept plans and layout for the medical facility at the southeast corner of Hallock Road and SR-126. The mix of uses that will include medical offices and a hospital with the possibility of including senior care facilities, an outpatient surgical center, and retail.

The developer is currently reviewing options with staff for amendments to the specific plan.

COMMERCIAL DEVELOPMENT UPDATES
Gun Smoke BBQ (817 E Main St): Restaurant
Proposal for a new Santa Fe style barbeque restaurant. Site development work is nearly completed. The sign permits and business license have been issued for the project and final improvements are underway. The opening date is planned for this summer.

La Terraza (1080 E. Main Street): Banquet Hall
Proposal for a new 6,672-sf multi-venue event space adjacent to La Terraza Restaurant. A new Conditional Use Permit was approved by the Planning Commission on January 26, 2022.

The project building plans are ready for permitting and building improvements are underway.

Good Orchard Event Center and Café (133 Mill Street)
9 The initial project (Wesley Hall repurpose/renovation) which includes a catering and event center, café and alcohol license is nearing completion of plan review. The project site will be phased to include the future redevelopment of another existing onsite structure (Faulkner Hall) into apartments. Plans are under review for the two projects and staff continues to closely engage with the developer regarding these phases and the potential to turn the existing church on the project site into an arts and event space.

Parque 1055 Bar and Grill (1055 East Main Street)
Staff is awaiting submittal of complete development plans to initiate plan check. The project is composed of the redevelopment of an auto parts and repair facility into a bar and grill.

East Area Gateway (Hallock/126/Telegraph)
Staff continues to work with developers and property owners (Red Tail, Parkstone, Ward Construction, Wright Storage, etc.) on coordination opportunities for their respective projects and properties in the East Gateway area in hopes of promoting walkability, connection, and cohesion of amenities and services where possible. The owners of the four parcels on the southwest corner of Hallock and Telegraph are working collaboratively on retail development proposals that includes grocery, multiple restaurants and other commercial/retail services.

Concept plan submittal is expected Q3 2023.

INDUSTRIAL DEVELOPMENT UPDATE
Santa Maria Industrial Park (324 W. Santa Maria Street): Industrial Park Project approved by Planning Commission in 2012. City staff is continuing to coordinate with applicants to complete the project. A conservation easement violation has been resolved and the project is continuing with requisite design and engineering submittals. The review of the Conditional Letter of Map Revision (CLOMR) which addresses project potential alterations to flood hydrology, has been completed by the county watershed protection district and the city will be submitted to FEMA for approval of the final Letter of Map Revision (LOMR). Vertical construction will be contingent of the FEMA approval which is expected early 2024.

Santa Paula Self Storage Too (324 E Santa Maria St): Self Storage Facility Proposal for a 5-building, 262-unit self-storage facility. Plans have been submitted and are under review. The project will commence development once the underlying Santa Maria Industrial Park project has received FEMA approval.

ActionPac (270 Quail Court/1574 Lemonwood Drive)
The packaging equipment manufacturer recently relocated from Oxnard and is working on development plans to add additional buildings and tenants on the 5-acre site.

RESIDENTIAL DEVELOPMENT UPDATE
Santa Paula Public Benefit Housing/First-Time Homebuyer Program Ventura County Community Development Corporation (VCCDC) has been selected for the administration of the program and staff will request budget appropriation from the Council. City 10 staff and the VCCDC have conducted an orientation with the sales team at Harvest and are currently collaborating on marketing materials and program promotion. Program promotion will commence with phase 1b and phase 2 of the Harvest development.

People’s Self-Help Housing (PSHH) 714 W Harvard Blvd (Mt View RV Park) Construction of the 69 deed-restricted affordable housing development broke ground in May 2022 and presently continues. Significant vertical construction is underway and project has an expected completion Q4 2023.

Former Kmart (859 Faulkner Rd.)
Harridge Development Group, LLC., the owner and developer for the site has submitted a preliminary plan for 240 market-rate apartment townhomes with an affordable component.

Environmental review has been completed for the project and development plan submittal is expected Q3 2023.

Eleventh Street Townhomes
Ten market rate townhomes on Main Street and Eleventh Street. Design review has been completed and the project plans are currently under review.

King Building Apartments (929 East Main Street)
Six second-floor, market-rate apartment units above ground-floor retail. Project plan review is complete. Staff is awaiting word from developer on construction start date, which may be on hold due to materials and financing costs.

Red Tail Apartments (18004 East Telegraph Rd)
298-unit apartment complex at East Telegraph Rd. and Whipple Rd. - 162 affordable units (40 Very-Low and 122 Low) along with 136 market-rate units The project will contribute significantly to the city’s progress toward satisfying SCAG Sixth Cycle RHNA requirements.

The project received approval of Affordable Housing Plan to pair with by-right zoning entitlement at the January 24, 2023 Planning Commission meeting. Next steps are construction plan submittal and concurrent review of a development agreement and new parcel map.

Mixed-Use/Senior Living (603 East Main Street)
Mixed use Senior Living and commercial project composed of ~6,800 square feet of commercial and 27 senior apartments. Design review is complete.

Chaparral Aerolofts (Airpark)
Proposed project of thirty-seven aircraft hangar/residential units. The applicant is preparing for a concept review by staff to review the project engineering, fire safety and building plans. The applicant is currently working on a submittal for engineering and infrastructure plans based on collaboration with CalTrans and city Public Works. Submittal of full development plans are delayed based on need for further financing.

Harvest at Limoneira-Lewis (East Area 1)
11 All 586 lots for Phase I of the project have been sold to home builders and approximately 560 homes are occupied. Due to high interest rates the developer has been focusing on infrastructure and site preparation and is working to negotiate with builders for Phase Ib and Phase 2.

Spirit of Santa Paula (1498 E. Harvard Blvd.) Homeless Services Center Development improvements and operational permit for a homeless service center. The project is near completion and Building & Safety staff has been coordinating with the Ventura County Fire Department to finalize the final components of the development.

New Business Licenses
(81) new business licenses were issued January - April 2023.

Development Applications
(5) new development applications were received January - April 2023.

Planning Applications
(21) new planning applications were received January - April 2023.

BUILDING AND SAFETY DIVISION
Permit and Fee Activity
JANUARY – APRIL 2023
2023 2022
BUILDING PERMITS 102 166
PLUMBING PERMITS 35 96
ELECTRICAL PERMITS 110 132
MECHANICAL PERMITS 29 132
TOTAL 276 480
Total permit valuation to date (2023 total): $4,069,764.28, and total permit valuation prior year (2022 total): $34,949,372.57.

East Triangle Site (east of Hallock and SR 126)
After reviewing proposals for the development of the site on the direction of City Council, staff will be working to determine the feasibility of interim improvement to the site in lieu of more preferred development opportunities.

Bender Property (Todd Rd and SR-126)
12 The developer, Bender Farms, is currently planning an additional 76,000 square foot industrial shell building and has submitted plans for the development of the site. As a part of the project, improvements will be made to Todd Rd, Calpipe Rd. and Peck Rd.

OTHER ACTIVITIES
Homeless Encampment Mitigation
Staff is coordinating with a development team to apply for State Encampment Resolution Funds (ERF) to develop 30-40 homeless transitional units at 1445 East Main Street. The team includes Many Mansions, Dignity Moves, Hope of the Mission, the Housing Trust Fund of Ventura County, Spirit of Santa Paula, Santa Paula Housing Authority, the Ventura County Continuum of Care and the Ventura County Community Foundation. Following submittal of a letter of interest, the city has received approval to submit an application for review by the Ventura County Continuum of Care, who will be the coordinating agency for the state funds.

In addition, the development team is working with the owners of the Harvard Motel (428 East Harvard Blvd) and the triangle lot at Harvard and Main with hope to implement state funding to build additional homeless transitional housing and navigation services.

ANALYSIS:

STRATEGIC PLAN:

FISCAL IMPACTS:

OPTIONS:

ATTACHMENTS:
13 CITY OF SANTA PAULA
City Council Special Meeting
May 2, 2023, 4:30 PM

MINUTES

SPECIAL MEETING - COUNCIL CHAMBERS
1) CALL TO ORDER
Mayor Sobel Called the meeting to order at 4:30 p.m.
2) ROLL CALL
Members Present: Andy Sobel, Jenny Crosswhite, Carlos Juarez, and Pedro A Chavez
Members Absent: Leslie Cornejo
3) PUBLIC COMMENT
None.
4) CITY BUSINESS

4.A) COMMISSION/COMMITTEE/BOARD INTERVIEWS
Council interviewed applicants for the Santa Paula Housing Authority.

Elenore Vaughn, Executive Director of the Santa Paula Housing Authority, discussed the need and ability of applicants. 5) CLOSED SESSION

5.A) CONFERENCE WITH LABOR NEGOTIATORS PURSUANT TO
GOVERNMENT CODE §54957.6 - City Representatives: Chief Labor Negotiator Irma Rodriguez Moisa, City Manager Dan Singer, Finance Director Christy Ramirez, and Human Resources Manager Lorena Alvarez; Employee Organizations: Community Services Officer Association; Mid-Management Association; Professional & Supervisory Association; Service Employee International Union, Local 721 (SEIU); Santa Paula Police Officers Association (SPPOA); and Unrepresented Employees: Executive Management; Confidential employees; Part-time employees.
14 Council recessed to closed session.
6) CLOSED SESSION REPORT
Interim City Attorney Monica Castillo reported there was no reportable action taken.
7) ADJOURNMENT
Mayor Sobel adjourned the meeting at 6:30 p.m.

Julie Latshaw, City Clerk
ATTEST:
15 CITY OF SANTA PAULA
City Council Regular Meeting
May 2, 2023, 6:30 PM

MINUTES

REGULAR MATTERS - COUNCIL CHAMBERS
1) CALL TO ORDER
Mayor Sobel called the meeting to order at 6:34 p.m.
2) INVOCATION
Chaplain Kay Wilson-Bolton provided the Invocation.
3) FLAG SALUTE
Councilmember Chavez led the flag salute.
4) ROLL CALL
Members Present: Andy Sobel, Jenny Crosswhite, Carlos Juarez, and Pedro A Chavez
Members Absent: Leslie Cornejo
5) CLOSED SESSION REPORT
Interim City Attorney Monica Castillo reported the Council met in closed session on the below item, reporting there was no reportable action taken.

CONFERENCE WITH LABOR NEGOTIATORS PURSUANT TO
GOVERNMENT CODE §54957.6 - City Representatives: Chief Labor Negotiator Irma Rodriguez Moisa, City Manager Dan Singer, Finance Director Christy Ramirez, and Human Resources Manager Lorena Alvarez; Employee Organizations: Community Services Officer Association; Mid-Management Association; Professional & Supervisory Association; Service Employee International Union, Local 721 (SEIU); Santa Paula Police Officers Association (SPPOA); and Unrepresented Employees: Executive Management; Confidential employees; Part-time employees.
6) PUBLIC COMMENT
None.
16 7) PRESENTATIONS

7.A) OLDER AMERICANS MONTH PROCLAMATION
Mayor Sobel presented Older Americans Month Proclamation to Dr.

Maria Munguia and Bruce Archer.

7.B) FAIR HOUSING MONTH PROCLAMATION
Mayor Sobel presented the Fair Housing Month Proclamation to Kay Wilson-Bolton.

7.C) VENTURA COUNTY FIRE DEPARTMENT REPORT
Fire Chief Joseph William presented the Ventura County Fire Department Report.

7.D) 5-YEAR PAVEMENT MANAGEMENT PLAN UPDATE
This item was presented by Public Works Director Clete J. Saunier, City Engineer Robert Woodward, and Project Manager Rachel Williams, with m6 Consulting.

Public Speaker
Constance Leshin was called to speak with concerns of traffic flow in and around Thelma Bedell Elementary School and would like Council to take into consideration, repairs to the roads in the area. 8) CITY COUNCIL REPORTS
Councilmember Juarez:

Attended Legal Guidance for Public Officials Social Media training; Centennial luncheon for the Santa Paula Police Department; Homeless and Housing; Parks & Recreation Commission; Boys & Girls Club facility tour; and Citizen's Corp meeting.

Councilmember Crosswhite:

Attended Legal Guidance for Public Officials Social Media training; public advocacy training with All Children Thrive; Centennial luncheon for Santa Paula Police Department; and Leap Lab sustainable ag presentation at the ag museum.

Councilmember Chavez:

Acknowledged local Santa Paula High School Principal who was awarded Administrator of the Year by the Association of Schools Administrators, North Ventura County Chapter; advocated and Council has voted for a resolution in support of the Community College Education Center; site visit of the Freeman Dam diversion project with United Conservation District; First Five at the California State University Channel Islands for a read to kids kickoff.

Mayor Sobel:

Attended Legal Guidance for Public Officials Social Media training; Ethics training; presentation on ARAI use in municipal government; Centennial 17 luncheon for Santa Paula Police Department; Leap Lab presentation; and met with David Lauletta for update on Harvest Limoneira.
9) CITY MANAGER REPORTS
Attended Ethics training; Centennial luncheon for Santa Paula Police Department; Measure T Oversite Committee; Ventura County Leadership Academy Award Ceremony; League California Cities dinner; and announced upcoming events.

12.A) APPOINTMENTS TO COMMISSIONS AND COMMITTEES
Motion: Approve Appointment of returning applicant Aaron Dunkel to the Planning Commission to serve a four-year term (5/2/2023 - 5/2/2027).

Moved by Pedro A Chavez, seconded by Jenny Crosswhite
Vote: Motion carried 4-0
Yes: Andy Sobel, Jenny Crosswhite, Carlos Juarez, Pedro A Chavez Motion: Approve Appointment of returning applicant Dee Dee Chambers to the Santa Paula Housing Authority to serve a four-year term 5/2/2023 - 5/2/2027.

Moved by Jenny Crosswhite, seconded by Carlos Juarez
Vote: Motion carried 3-1
Yes: Andy Sobel, Jenny Crosswhite, Carlos Juarez
No: Pedro A Chavez
Mayor Sobel moved item 12.A before Consent Calendar.
10) CONSENT CALENDAR

10.A) APPROVAL OF MINUTES
City Council Special Minutes for April 19, 2023
City Council Regular Minutes for April 19, 2023

10.B) PECK ROAD WATER MAIN REPAIR PROJECT
Councilmember Crosswhite announced she provided staff with changes to the minutes.

Motion: Approve as amended Consent Calendar with amendments to the minutes.

Moved by Carlos Juarez, seconded by Jenny Crosswhite
Vote: Motion carried 4-0
Yes: Andy Sobel, Jenny Crosswhite, Carlos Juarez, Pedro A Chavez 11) PUBLIC HEARING

11.A) VENTURA COUNTY WATERSHED PROTECTION DISTRICT’S
BENEFIT ASSESSMENT PROGRAM FOR FY 2023-2024
Motion: Approve Adoption of Resolution No. 7455 authorizing the City Manager to allow City participation in the Ventura County Watershed 18 Protection District’s Benefit Assessment Program for FY 2023-24 and continue the City’s assessment of $6.65 per Benefit Assessment Unit (BAU) per year to fund a portion of the City’s Stormwater Management Program.

Moved by Jenny Crosswhite, seconded by Carlos Juarez
Vote: Motion carried 4-0
Yes: Andy Sobel, Jenny Crosswhite, Carlos Juarez, Pedro A Chavez Mayor Sobel opened the public hearing. With no public comments, the public hearing was closed.

11.B) ORDINANCE NO. 1328 AMENDING CHAPTER 16.44 OF THE SANTA

PAULA MUNICIPAL CODE TO RESTRICT THE USE OF BARBED

WIRE AND RAZOR-EDGED WIRE FENCES
This item was presented by Community & Economic Development Director James Mason.

Mayor Sobel opened the public hearing. With no public comments, the public hearing was closed.

Council provided staff with changes to revert back to the Planning Commission.

Motion: Approve reverting back to Planning Commission for additional changes.

Moved by Jenny Crosswhite, seconded by Pedro A Chavez
Vote: Motion carried 4-0
Yes: Andy Sobel, Jenny Crosswhite, Carlos Juarez, Pedro A Chavez

11.C) ORDINANCE NO. 1329 AMENDING CHAPTER 16.13.410 OF THE

SANTA PAULA MUNICIPAL CODE REGARDING THE USE OF

AFFORDABLE HOUSING TRUST FUND MONIES FROM HOUSING

IN-LIEU FEE PAYMENTS
This item was presented by Community & Economic Development Director James Mason.

Mayor Sobel opened the public hearing.

Elenore Vaughn, Santa Paula Housing Authority Director, was called to speak providing recommendations from the task force, and would like to see a significant oversight.

Mayor Sobel closed the public hearing.

Motion: Approve as amended Introduce and waive first reading of proposed Ordinance No. 1329, entitled, "An Ordinance of the Santa Paula City Council Amending Santa Paula Municipal Code Chapter

16.13.410, Affordable Housing Trust Fund, to Provide More Clarity in the Process and Use of Affordable Housing Trust Funds from the Housing In-Lieu Payments" and staff additional recommendations.

Moved by Pedro A Chavez, seconded by Jenny Crosswhite
Vote: Motion carried 4-0
Yes: Andy Sobel, Jenny Crosswhite, Carlos Juarez, Pedro A Chavez 19 12) ACTION ITEMS

12.B) WASTEWATER COLLECTION SYSTEM CHLORIDE SOURCE STUDY UPDATE
This item was presented by Clete J. Saunier, Public Works Director, and Michael K. Nunley, with MKN & Associates.

Interim City Attorney Monica Castillo explained there were amendments to the Professional Services Agreement, of which was provided to Council.

Motion: Approve as amended Authorizing the City Manager to execute a Professional Services Agreement with Ventura Regional Sanitation District for the Wastewater Chloride Source Identification Study with amended language changes in a form approved by the City Attorney.

Moved by Jenny Crosswhite, seconded by Carlos Juarez
Vote: Motion carried 4-0
Yes: Andy Sobel, Jenny Crosswhite, Carlos Juarez, Pedro A Chavez

12.C) ESTABLISHMENT OF AN AD HOC COMMUNICATIONS COMMITTEE Motion: Approve Establishing a Communications Ad Hoc Committee to discuss updates to the City's website (spcity.org) and to explore options for enhancing the City's communication and engagement efforts with residents.

Moved by Pedro A Chavez, seconded by Carlos Juarez
Vote: Motion carried 4-0
Yes: Andy Sobel, Jenny Crosswhite, Carlos Juarez, Pedro A Chavez Mayor Sobel and Councilmember Chavez were appointed to the Ad Hoc Committee.

12.D) AMERICAN RESCUE PLAN ACT (ARPA) UPDATE & FUNDING

CONSIDERATIONS
This item was presented by Management Analyst Jonathan Royas.

Jan Marholin was called to speak requesting Council to reallocate a portion of funds from the restrooms to the kitchens and drainage at the Boys & Girls Club.

Council provided staff with feedback.
13) ITEMS FOR FUTURE AGENDAS
Motion: Approve continuing the meeting past 10:30 p.m.

Moved by Jenny Crosswhite, seconded by Andy Sobel
Vote: Motion carried 4-0
Yes: Andy Sobel, Jenny Crosswhite, Carlos Juarez, Pedro A Chavez

13.A) FUTURE AGENDA ITEMS
20 Councilmember Crosswhite requested discussion of the City Council Regular meetings start time on a future agenda item.
14) ADJOURNMENT
Mayor Sobel adjourned the meeting at 11:00 p.m.

Julie Latshaw, City Clerk
ATTEST:
21 CITY OF SANTA PAULA
City Council Special Meeting
May 10, 2023, 1:30 PM

MINUTES

SPECIAL MEETING - COUNCIL CHAMBERS
1) CALL TO ORDER
Vice Mayor Cornejo called the meeting to order at 1:30 p.m. 2) ROLL CALL
Members Present: Leslie Cornejo, Jenny Crosswhite, and Carlos Juarez Members Absent: Andy Sobel, and Pedro A Chavez
3) PUBLIC COMMENT
None.
4) CLOSED SESSION

4.A) PUBLIC EMPLOYMEE PERFORMANCE EVALUATION - Pursuant to Government Code § 54957(b)(1), Title: City Manager
Council recessed to closed session.

Interim City Attorney Monica Castillo reported there was no reportable action taken.
5) ADJOURNMENT
Vice Mayor Cornejo adjourned the meeting at 2:27 p.m.

Julie Latshaw, City Clerk
ATTEST:
22 To: Honorable Mayor and Members of the City Council
From: Beatriz Jimenez, Assistant Finance Director
Subject: APRIL 2023 WARRANTS AND CERTIFICATIONS
Date: May 17, 2023
Agenda Item: 10.B

CITY OF SANTA PAULA

MEMORANDUM
RECOMMENDATION:

Staff recommends that the City Council:

1. Review and accept the "Certification of Accounts Payable" for the accounts payable payment cycles for April 2023, starting check number 333829 and ending check number 334075.

2. Review and accept the "Certification of Salaries" for the pay period ending dates April 7th, 2023 through April 21st, 2023.

BACKGROUND:

This staff report certifies the separation of duties between the Preparer (Accounting and Payroll Specialist) and the Reviewer (Finance Director and Assistant Finance Director).

Presented in the attached documents:
a) CERTIFICATION OF ACCOUNTS PAYABLE CHECKS by check number range and dates.

It also discloses any voided checks.
b) EXPENSE REPORTS showing the amount and funds accounts payable came from.

The "Check Report" depicts the following columns:
c) AP-ACCOUNTS PAYABLE for the vendors (non-City staff) by the vendor number, vendor name, payment date, payment amount and check number (entitled 'number'). d) PY-PAYROLL for benefit payments, insurance, retirement, etc. Benefits payable on behalf of City staff.
e) Bank Code Summary by payment type.
f) Fund Summary by fund the accounts payables utilized. 23 CERTIFICATION OF SALARIES
This is the certification (separation of duties between "preparer" and the "reviewer") of salaries and benefits (payroll checks) by fund. It lists salary (payroll) issued checks by beginning and ending check number, payroll ending dates April 7th, 2023 through April 21st, 2023.

ANALYSIS:

See the attachments for expense breakdown by respective fund.

STRATEGIC PLAN:

FISCAL IMPACTS:

OPTIONS:

1. Receive and file April 2023 Certifications of Accounts Payable Checks and Certifications of Salaries.

ATTACHMENTS:

APRIL 2023 WARRANTS AND CERTIFICATIONS.pdf
24 25
26 27
28 29
30 31
32 33
34 35
36 37
38 39
40 41
42 43
44 45
46 47
48 49
50 51
52 53
54 55
To: Honorable Mayor and Members of the City Council
From: Beatriz Jimenez, Assistant Finance Director
Subject: QUARTERLY INVESTMENT REPORTS
Date: May 17, 2023
Agenda Item: 10.C

CITY OF SANTA PAULA

MEMORANDUM
RECOMMENDATION:

Staff recommends that the City Council receive and file the Quarterly Investment Reports for Q3 of FY 22/23.

BACKGROUND:

The City is required by Government Code Section 53600 et seq. and the City’s Investment Policy to provide a quarterly report of investments. Attached are the Summary of Cash and Investments for the third quarter of FY 22/23, along with detailed information regarding how these funds are invested. These reports reflect cash balances as reported by the banking institutions. The reports represent, in essence, the balance in the bank. The reports do not include funds available for expenditure, including those funds obligated and not yet paid out (outstanding checks) and deposits in transit.

ANALYSIS:

The City used a pooled cash investment for distribution of interest earnings based on the average of the three-months ending cash balances. Any interest from investments related to a specific function (such as bond reserve amounts and the warehouse accounts for the HUD rehab loans) are allocated to those specific funds.

The City of Santa Paula has not suffered negative impact with their investments as we use the “Safety over Yield” philosophy. The City’s interest rates and subsequent earnings have been increasing the past year.

All investments of the City are in compliance with the Statement of Investment Policy.

Maturities and cash availability will meet the City’s budgeted expenditures for the next six months. On another note, the City continues to be the custodian of the funds for the Designated Local Authority for the former Santa Paula Redevelopment Agency.

In May of 2022, with Council's approval and adopted investment policy as guidance, the City began to utilize Chandler Asset Management to diversify funds previously held solely in the Local Agency Investment Fund (LAIF).
56 The Chandler Asset overview provided to staff, which includes benchmark comparisons as well as comparisons to the LAIF Yields, has been included as an attachment to this report. All City investment account information and balances is held within that attachment.

STRATEGIC PLAN:

This item is not a goal or objective in City Council’s two-year Strategic Plan, however, accurate reporting of city finances is necessary.

FISCAL IMPACTS:

None.

OPTIONS:

Reject the Quarterly Investment reports and be out of compliance with Government Code 53600 et. seq.

ATTACHMENTS:
2023.03.31CAM Investment Report.pdf

7. Investment Reports 03.23.pdf
57 CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com

INVESTMENT REPORT
Period Ending March 31, 2023
City of Santa Paula
58 SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Portfolio Holdings
SECTION 4 Transactions
Table of Contents As of March 31, 2023
1 59
SECTION | Section 1 | Economic Update
2 60
Economic Update
▪
▪
▪
Economic trends have been decelerating along with tighter financial conditions and restrictive monetary policy. Recent data suggests positive but below trend growth this year. Although the pace of job growth is moderating, labor markets remain solid, and the U.S. consumer has demonstrated resiliency. Market participants and the Federal Reserve are maintaining very divergent views regarding the future trajectory of monetary policy. Given the cumulative effects of tighter monetary policy and stress in the banking sector, we believe the Federal Reserve is likely near a pause in their rate hiking campaign. If moderate growth continues, we believe the Fed will likely maintain the Federal Funds rate in restrictive territory until inflationary pressures subside.

At the March meeting, the Federal Open Market Committee voted unanimously to raise the target federal funds rate by

0.25% to a range of 4.75 – 5.00%. Fed Chair Powell reiterated the committee’s focus on bringing down inflation to their 2% target; however, the committee softened language about "ongoing increases" in rates in the prior statement to "some additional policy firming may be appropriate". The statement also emphasized that the U.S. banking system is “sound and resilient” and acknowledged the tightening of financial conditions. The Chandler team believes the FOMC is likely near a pause in their rate hiking cycle.

In March, the yield curve inversion narrowed. The 2-year Treasury yield plummeted 79 basis points to 4.03%, the 5-year Treasury yield plunged 61 basis points to 3.58%, and the 10-year Treasury yield fell 45 basis points to 3.47%. The inversion between the 2-year Treasury yield and 10-year Treasury yield declined to -56 basis points at March month-end versus -90 basis points at February month-end. There was no spread between the 2-year Treasury and 10-year Treasury yield one year ago – the yields were approximately equal. The inversion between 3-month and 10-year Treasuries widened to -128 in March from -89 basis points in February. The shape of the yield curve indicates that the probability of recession is increasing.
3 61
Source: US Department of Labor Source: US Department of Labor Employment
The U.S. economy added 236,000 jobs in March, and the prior two months were revised downward by 17,000. Although the pace of job growth is moderating, employment remains strong, with the three-month moving average payrolls at 345,000 and the six-month moving average at 315,000. The private sector reported broad gains, led by leisure and hospitality. The unemployment rate fell to 3.5% due to a sharp rise in the number of people employed, and the participation rate increased to 62.6% from 62.5% in February. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons, declined to 6.7% from the prior month at 6.8%. Average hourly earnings rose 4.2% year-over-year in March, down from a 4.6% increase in February. Job Openings dipped to 9.9 million, the first drop below 10 million since May of 2021. While the overall pace of hiring is slowing, levels remain consistent with a solid labor market.0
100
200
300
400
500
600
700
800
900
1,000
MOM Change In (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3 month average (000's)

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
4 62
Source: US Department of Labor Source: US Department of Commerce Inflation
The Consumer Price Index (CPI) increased in March 0.1% month-over-month and 5.0% year-over-year, down from 6.0% in February. The Core CPI, which excludes volatile food and energy components, rose 0.4% month-over-month and 5.6% year-over-year, accelerating from 5.5% in February. Housing remained the largest factor in headline CPI representing 60% of the increase. The Personal Consumption Expenditures (PCE) index rose 5.0% year-over-year in February, improving from a 5.3% year-over-year gain in January. Core PCE, the Federal Reserve’s preferred inflation gauge, increased 4.6% year-over-year in February, the smallest increase since October 2021. Inflationary trends are declining but remain above the Fed's 2% target.

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Core Deflator YOY % Change
YOY( %) Change

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YOY( %) Change
5 63
Advance Retail Sales fell more than expected month-over-month at -1.0% in March, which translated to a year-over-year deceleration to 2.9% from 5.9% in February. The report indicated a broad-based cooling in discretionary spending as consumers are becoming more cautious about the outlook for the US economy. The Conference Board’s Consumer Confidence Index unexpectedly increased to 104.2 in March from 103.4 in February. While high inflation and recession concerns remain top of mind for many consumers, the strong labor market and low unemployment continue to support the strength in Consumer Confidence.

Source: US Department of Commerce Source: The Conference Board

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%
Retail Sales YOY % Change
YOY (%) Change
80 90
100
110
120
130
140
Index Level
Consumer Confidence
Consumer
6 64
Source: The Conference Board Source: Federal Reserve Bank of Chicago Economic Activity
The Conference Board’s Leading Economic Index (LEI) remained in negative territory for the eleventh consecutive month at -0.3% in February, unchanged from -0.3% in January. The LEI was down 6.5% year-over-year in February versus down 5.9% year-over-year in January. The consistent decline month-over-month continues to signal future contraction in the economy. The Chicago Fed National Activity Index (CFNAI) declined to -0.19 in February from +0.23 in January. On a 3-month moving average basis, the CFNAI increased to -0.13 in February from -0.27 in January, indicating a rate of growth below the historical average trend. -0.50
-0.25

0.00 0.25

0.50 0.75

1.00 Chicago Fed National Activity Index (CFNAI)
3 Month Average
-1.0%
-0.5%

0.0%

0.5%

1.0%

1.5%
Leading Economic Indicators (LEI)
MOM ( %) Change
7 65
Source: US Department of Commerce Source: S&P
Housing
0 200
400
600
800
1000
1200
1400
1600
1800
2000
MOM Change (In Thousands of Units)
Housing Starts
Multi Family Housing Starts
Single Family Housing Starts

0.0%

3.0%

6.0%

9.0%

12.0%

15.0%

18.0%

21.0%

24.0%
S&P/Case-Shiller 20 City Composite Home Price Index
YOY( %) Change
Total housing starts rose 9.8% month-over-month in February to 1,450,000 units and were down 18.4% compared to February 2022. Starts for both single-family and multi-family homes increased as mortgage rates declined from recent peaks. The 30-year fixed rate mortgage fell to an average of 6.24% according to Freddie Mac, down from a peak of 7.08% in October, but up from 4.67% a year ago. According to the Case-Shiller 20-City Home Price Index, the year-over-year increase continued its declining rate of gain to +2.55% in January from +4.62% in December, clearly displaying the impact of higher mortgage rates year-over-year, which have reduced demand for homebuying as affordability has declined. This is the lowest rate of annual appreciation since December 2019. 8 66
Source: Institute for Supply Management Source: Federal Reserve Manufacturing
The Institute for Supply Management (ISM) manufacturing index fell to 46.3 in March from 47.7 in February. This is the fifth consecutive month of readings below 50.0, which is indicative of contraction in the manufacturing sector. All components weakened, including the headline, new orders, employment, and prices. Industrial production rose 0.4% in March due to an 8.4% increase in utilities production, as demand increased for heating. This equates to a +0.5% increase in industrial production from the prior year. Capacity utilization increased to 79.8% in March from an upwardly revised 79.6% in February, inching above its 1972-2021 average of 79.6%. 40 42
44 46
48 50
52 54
56 58
60 62
64 66
Institute of Supply Management Purchasing Manager Index

EXPANDING

CONTRACTING
-10.0%
-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%
Industrial Production
YOY( %) Change
9 67
Source: US Department of Commerce Source: US Department of Commerce 3/22 6/22 9/22 12/22

0.9% 1.4% 1.5% 0.7%

1.0% -2.8% -1.8% 0.8%
-3.1% 1.2% 2.9% 0.4%
-0.4% -0.2% 0.2% 0.4%

0.0% -0.1% 0.4% 0.3%
-1.6% -0.6% 3.3% 2.6%
Net Exports and Imports
Total
Gross Private Domestic Investment
Personal Consumption Expenditures
Components of GDP
Federal Government Expenditures
State and Local (Consumption and Gross
Investment) -35.0%
-30.0%
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Gross Domestic Product (GDP)
According to the third estimate, fourth quarter 2022 GDP growth was revised downward to 2.6% from 2.7%. The revision lower was primarily due to weaker growth in personal consumption expenditures and a wider trade gap in net exports. The consensus estimate calls for 1.6% growth in the first quarter and 1.0% growth for the full year 2023. 10 68
Federal Reserve
Source: Federal Reserve Source: Bloomberg
At the March meeting, the Federal Open Market Committee voted unanimously to raise the target federal funds rate by 0.25% to a range of

4.75 – 5.00%. Fed Chair Powell reiterated the committee’s focus on bringing down inflation to their 2% target; however, the committee softened language about "ongoing increases" in rates in the prior statement to "some additional policy firming may be appropriate". The statement also emphasized that the U.S. banking system is “sound and resilient” and acknowledged the tightening in financial conditions.

Powell indicated that the extent of these effects is uncertain but speculated that tighter credit conditions could be equivalent to a rate hike or more. The Summary of Economic Projections was little changed, with the consensus target federal funds rate rising to 5.1% by the end of 2023 (implying one more quarter point hike), falling to 4.3% in 2024 (up from 4.1% previously), and declining to 3.1% by the end of 2025. No rate cuts were in the Fed’s base case for this year, contrary to the market consensus. Although projections imply policymakers are winding down interest rate hikes, the statement clearly reflected optionality for the Fed to remain data dependent. The Chandler team believes the Fed is likely near a pause in their rate hiking cycle.

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

5.00%
Effective Federal Funds Rate
Yield (%)
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
In $ millions
11 69
Source: Bloomberg Source: Bloomberg

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yield (%)

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Yield Curve
Mar-23
Dec-22
Mar-22
Yield (%)
Bond Yields
At the end of March, the 2-year Treasury yield was 169 basis points higher, and the 10-Year Treasury yield was about 113 basis points higher, year-over-year. The inversion between the 2-year Treasury yield and 10-year Treasury yield narrowed to -56 basis points at March month-end versus -90 basis points at February month-end. The average historical spread (since 2003) is about +130 basis points. The inversion between 3- month and 10-year Treasuries widened to -128 in March from -89 basis points in February. The shape of the yield curve indicates that the probability of recession is increasing.
12 70
Section 2| SECTION | Section 2 | Account Profile
13 71
Objectives
Chandler Asset Management Performance Objective
The performance objective for the portfolio is to earn a total rate of return through a market cycle that is equal to or above the return on the benchmark index.

Investment Objectives
The City of Santa Paula's investment objectives, in order of priority, are to provide safety to ensure the preservation of capital in the overall portfolio, provide sufficient liquidity for cash needs and a market rate of return consistent with the investment program.

Strategy
In order to achieve this objective, the portfolio invests in high-quality fixed income securities that comply with the investment policy and all regulations governing the funds.

As of March 31, 2023
14 72
Compliance As of March 31, 2023
Category Standard Comment
U.S. Treasuries No limitation; U.S. Treasury bills, notes, & bonds, or certificates of indebtedness, or those for which the full faith and credit of the U.S. Government are pledged for the payment of principal and interest Complies
Federal Agencies
30% max per Agency/GSE issuer; 20% max callable agency securities; Federal agencies or U.S. governmentsponsored enterprise obligations, participations, or other instruments, including those issued or fully guaranteed as to principal and interest by federal agencies or U.S. government sponsored enterprises.

Complies
Supranational Obligations "AA" rating category or higher by a NRSRO; 30% max; 10% max per issuer; USD denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by IBRD, IFC, or IADB Complies
Municipal Securities (CA, Other States)
“AA” or “A-1” (for short-term securities) rating category or higher by a NRSRO; 30% max; 5% max per issuer; Bonds, notes, warrants or other evidence of debt issued by a local agency or municipality located within the State of California, including debt securities issued by the City; Bonds issued by any of the 50 United States, including bonds payable solely out of the revenues from a revenue producing property owned, controlled, or operated by a state or by a department, board, agency, or authority of any state.

Complies
Certificate of Deposit Placement
Service (CDARS)
30% max (combination with Negotiable CDs) Complies
Non-Negotiable Certificates of Deposit
(CD)
20% max; 5% max per issuer; FDIC insured or Collateralized; Non-negotiable deposits in a state or national bank, savings association or federal association, federal or state credit union in the State of California as authorized by CGC
Complies
Banker’s Acceptances Highest short-term rating category by a NRSRO for issuing financial institutions; 40% max; 5% max per issuer; 180 days max maturity
Complies
City of Santa Paula
Assets managed by Chandler Asset Management are in full compliance with state law and the Client's investment policy. 15 73
Compliance As of March 31, 2023
Category Standard Comment
Commercial Paper
"Prime" quality of the highest rating by a NRSRO; 25% max; 5% max per issuer; 270 days maturity; 10% max of the outstanding commercial paper of any single issuer; Issued by an entity that meets all of the following conditions in either (1) or (2): 1. (a) organized and operating in the U.S. as a general corporation (b) has assets > $500 million; (c) "A" rating category or higher by a NRSRO, if any debt 2. (a) organized within the U.S. as a special purpose corporation, trust, or limited liability company; (b) has program-wide credit enhancements including, but not limited to, overcollateralization, letters of credit, or a surety bond; (c) "A-1" rating category or higher by a NRSRO.

Complies
Money Market and Mutual Funds
Highest rating by two NRSROs; 20% max in Money Market or Mutual Funds; 20% per fund; Issued by diversified management companies; Registered with SEC under Investment Company Act of 1940; Money market or mutual funds intended to maintain constant net asset value and that invest solely in U.S. Treasuries and Federal Agency obligations and repurchase agreements invested in such obligations Complies
Local Agency Investment Fund (LAIF) California State Treasurer's Local Agency Investment Fund (LAIF) as authorized by Gov. Code Section 16429.1(b). Complies Local Government Investment Pool
(LGIP)/ Other Pools/ Joint Powers
Authority
Shares of beneficial interest issued by a joint powers authority organized in the State of California pursuant to Gov.

Code Section 53601 subdivisions (a) to (q), inclusive. Each share shall represent an equal proportional interest in the underlying pool of securities owned by the joint powers authority. Purchases are limited to those pools that seek to maintain a constant net asset value and are rated in the highest category by a NRSRO. The joint powers authority issuing the shares shall have retained an investment adviser that meets all of the following criteria: (1) registered or exempt from registration with the SEC; (2) has not less than five years of experience investing in the securities and obligations authorized in subdivisions (a) to (q), inclusive, of [Gov. Code] section 53601; and (3) has assets under management > $500,000,000
Complies
Ventura County Investment Pool (VCIP) Ventura County Treasurer's Investment Pool as authorized by California Government Code Complies Max Per Issuer 5% max per issuer, except for U.S. Treasury, Federal Agency securities, authorized pools, mutual funds, Supranationals, and collateralized investments
Complies
Maximum Maturity 5 years max maturity Complies
City of Santa Paula
Assets managed by Chandler Asset Management are in full compliance with state law and the Client's investment policy. 16 74
Portfolio Characteristics
City of Santa Paula
03/31/23 12/31/22
Benchmark* Portfolio Portfolio
Average Maturity (yrs) 1.83 1.94 1.95
Average Modified Duration 1.76 1.65 1.67
Average Purchase Yield n/a 3.49% 3.42%
Average Market Yield 4.20% 4.50% 4.67%
Average Quality** AAA AA+/Aa1 AA+/Aa1
Total Market Value 30,365,949 29,934,789
*ICE BofA 1-3 Yr US Treasury & Agency Index
**Benchmark is a blended rating of S&P, Moody’s, and Fitch. Portfolio is S&P and Moody’s respectively.

As of March 31, 2023
17 75
City of Santa Paula
Sector Distribution
ABS

7.9%
Agency

25.3%
CMO

8.3%
Corporate

16.5%
Money Market
Fund

0.2%
Negotiable CD

1.7%
Supranational

3.4%
US Treasury

36.8%
March 31, 2023 December 31, 2022
ABS

7.6%
Agency

19.2%
CMO

8.4%
Corporate

16.4%
Money Market
Fund

0.2%
Negotiable CD

1.7%
Supranational

3.4%
US Treasury

43.0%
As of March 31, 2023
18 76
Issue Name Investment Type % Portfolio
Government of United States US Treasury 36.77%
Federal Farm Credit Bank Agency 10.56%
Federal Home Loan Bank Agency 10.38%
Federal Home Loan Mortgage Corp CMO 8.27%
Federal National Mortgage Association Agency 2.63%
Microsoft Corporate 2.03%
Apple Inc Corporate 1.80%
Inter-American Dev Bank Supranational 1.80%
JP Morgan Chase & Co Corporate 1.80%
Amazon.com Inc Corporate 1.79%
Bank of Montreal Chicago Corporate 1.79%
Bank of New York Corporate 1.79%
Federal Home Loan Mortgage Corp Agency 1.78%
Duke Energy Field Services Corporate 1.76%
Bank of Nova Scotia Houston Negotiable CD 1.68%
Visa Inc Corporate 1.61%
Intl Bank Recon and Development Supranational 1.60%
Wal-Mart Stores Corporate 1.58%
GM Financial Securitized Term Auto Trust ABS 1.42%
Bank of America Credit Card Trust ABS 1.21%
Honda ABS ABS 1.11%
John Deere ABS ABS 0.99%
American Express ABS ABS 0.82%
Hyundai Auto Receivables ABS 0.81%
Toyota ABS ABS 0.66%
Colgate-Palmolive Co. Corporate 0.52%
Verizon Master Trust ABS 0.37%
Mercedes-Benz ABS 0.33%
First American Govt Oblig Fund Money Market Fund 0.20%
BMW Vehicle Lease Trust ABS 0.13%
TOTAL 100.00%
Issuers
City of Santa Paula – Account #10939
As of March 31, 2023
19 77
AAA AA A <A NR
03/31/23 12.3% 71.1% 7.1% 0.0% 9.5%
12/31/22 9.9% 71.2% 9.0% 0.0% 9.8%
Source: S&P Ratings
March 31, 2023 vs. December 31, 2022

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%
AAA AA A <A NR
03/31/23 12/31/22
Quality Distribution
City of Santa Paula
As of March 31, 2023
20 78

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ City of Santa Paula ICE BofA 1-3 Yr US Treasury & Agency Index Portfolio Compared to the Benchmark
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ Portfolio 0.4% 8.4% 11.2% 48.3% 26.1% 5.5% 0.0% 0.0%
Benchmark* 0.1% 0.0% 2.8% 58.1% 39.0% 0.0% 0.0% 0.0%
*ICE BofA 1-3 Yr US Treasury & Agency Index
Duration Distribution
City of Santa Paula
As of March 31, 2023
21 79

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

1.60%

1.80%
3 months Since Inception
City of Santa Paula ICE BofA 1-3 Yr US Treasury & Agency Index Total Rate of Return Since Inception June 30, 2022
TOTAL RATE OF RETURN Latest 3 months Since Inception
City of Santa Paula 1.44% 1.04%
ICE BofA 1-3 Yr US Treasury & Agency Index 1.55% 0.70%
Investment Performance
City of Santa Paula
Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending value; it includes interest earnings, realized and unrealized gains and losses in the portfolio.

As of March 31, 2023
22 80
SECTION | Section 3 | Portfolio Holdings
23 81
Holdings Report
City of Santa Paula - Account #10939
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
ABS
89240BAC2 Toyota Auto Receivables Owners 2021-A A3

0.260% Due 05/15/2025
205,983.87 06/07/2022

2.63%
201,727.42
203,680.77

97.46 5.57%
200,748.79

23.80 0.66%
(2,931.98)
Aaa / NR
AAA

2.13 0.48
43815EAC8 Honda Auto Receivables 2021-3 A3

0.410% Due 11/18/2025
350,000.00 07/27/2022

3.40%
335,152.34
339,485.11

96.28 5.48%
336,975.10

51.82 1.11%
(2,510.01)

NR / AAA
AAA

2.64 0.73
05593AAC3 BMW Vehicle Lease Trust 2023-1 A3

5.160% Due 11/25/2025
40,000.00 02/07/2023

5.22%
39,999.05
39,999.11
100.29

5.02%
40,116.60

34.40 0.13%
117.49
Aaa / AAA
NR

2.66 1.51
05522RDC9 Bank of America Credit Card Tr 2020-A1 A1

0.340% Due 05/15/2026
380,000.00 06/15/2022

3.67%
361,757.03
371,379.70

96.65 5.31%
367,251.76

57.42 1.21%
(4,127.94)
Aaa / AAA
NR

3.13 0.68
362554AC1 GM Financial Securitized Term 2021-4 A3

0.680% Due 09/16/2026
200,000.00 06/13/2022

3.26%
190,492.19
193,235.74

94.86 5.77%
189,728.40

56.67 0.62%
(3,507.34)
Aaa / AAA
NR

3.47 1.02
02582JJR2 American Express 2021-1 A

0.900% Due 11/15/2026
265,000.00 06/28/2022

3.62%
248,748.05
253,903.84

93.99 4.82%
249,074.56
106.00

0.82%
(4,829.28)
Aaa / NR
AAA

3.63 1.56
44918MAD2 Hyundai Auto Receivables 2022-B A3

3.720% Due 11/16/2026
250,000.00 08/03/2022

3.64%
250,585.94
250,459.32

98.27 4.78%
245,668.75
413.33

0.81%
(4,790.57)

NR / AAA
AAA

3.63 1.69
47800AAC4 John Deere Owner Trust 2022-B A3

3.740% Due 02/16/2027
130,000.00 07/12/2022

3.77%
129,987.59
129,990.01

98.07 4.89%
127,494.64
216.09

0.42%
(2,495.37)
Aaa / NR
AAA

3.88 1.72
362585AC5 GM Financial Securitized ART 2022-2 A3

3.100% Due 02/16/2027
250,000.00 10/24/2022

4.92%
241,562.50
242,816.94

96.84 5.16%
242,091.25
322.92

0.80%
(725.69)
Aaa / AAA
NR

3.88 1.56
47800BAC2 John Deere Owner Trust 2022-C A3

5.090% Due 06/15/2027
170,000.00 10/12/2022

5.15%
169,986.81
169,988.43
100.81

4.74%
171,379.89
384.58

0.57%
1,391.46
Aaa / NR
AAA

4.21 1.98
92348KAV5 Verizon Master Trust 2022-5 A1A

3.720% Due 07/20/2027
115,000.00 08/02/2022

3.75%
114,994.94
114,996.10

98.64 5.10%
113,430.48
130.72

0.37%
(1,565.62)

NR / AAA
AAA

4.31 1.32
58770AAC7 Mercedes-Benz Auto Receivable 2023-1 A3

4.510% Due 11/15/2027
100,000.00 01/18/2023

4.56%
99,988.00
99,988.63

99.86 4.62%
99,864.90
200.44

0.33%
(123.73)

NR / AAA
AAA

4.63 2.08
TOTAL ABS 2,455,983.87 3.81%
2,384,981.86
2,409,923.70 5.16%
2,383,825.12
1,998.19

7.86%
(26,098.58)
Aaa / AAA
AAA

3.41 1.24
Agency
3133834G3 FHLB Note

2.125% Due 06/09/2023
70,000.00 08/11/2022

3.24%
69,368.60
69,855.26

99.46 4.99%
69,620.60
462.78

0.23%
(234.66)
Aaa / AA+
NR

0.19 0.19
3137EAEV7 FHLMC Note

0.250% Due 08/24/2023
550,000.00 06/28/2022

3.00%
532,988.50
544,140.93

98.22 4.81%
540,228.70
141.32

1.78%
(3,912.23)
Aaa / AA+
AAA

0.40 0.39
313383YJ4 FHLB Note

3.375% Due 09/08/2023
550,000.00 06/27/2022

2.99%
552,447.50
550,896.11

99.37 4.83%
546,555.90
1,185.94

1.80%
(4,340.21)
Aaa / AA+
NR

0.44 0.43
As of March 31, 2023
24 82
Holdings Report
City of Santa Paula - Account #10939
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
3133EMAM4 FFCB Callable Note Cont 9/21/2022

0.250% Due 09/21/2023
450,000.00 07/21/2022

3.26%
434,650.50
443,766.52

97.73 5.17%
439,798.95

31.25 1.45%
(3,967.57)
Aaa / AA+
AAA

0.48 0.46
3130APU29 FHLB Note

0.500% Due 11/09/2023
500,000.00 06/28/2022

3.06%
483,030.00
492,435.06

97.43 4.86%
487,133.50
986.11

1.61%
(5,301.56)
Aaa / AA+
NR

0.61 0.59
3130A0F70 FHLB Note

3.375% Due 12/08/2023
450,000.00 06/27/2022

3.10%
451,719.00
450,817.18

99.01 4.85%
445,549.05
4,767.19

1.48%
(5,268.13)
Aaa / AA+
AAA

0.69 0.66
3130A0XE5 FHLB Note

3.250% Due 03/08/2024
365,000.00 06/13/2022

3.23%
365,087.60
365,047.33

98.58 4.81%
359,834.89
757.88

1.19%
(5,212.44)
Aaa / AA+
NR

0.94 0.91
3133ENYX2 FFCB Note

3.250% Due 06/17/2024
375,000.00 06/15/2022

3.40%
373,946.25
374,361.41

98.43 4.59%
369,121.88
3,520.83

1.23%
(5,239.53)
Aaa / AA+
AAA

1.22 1.16
3130ASDS5 FHLB Note

2.750% Due 06/28/2024
365,000.00 06/09/2022

2.87%
364,153.20
364,486.72

97.90 4.51%
357,319.31
2,593.02

1.19%
(7,167.41)
Aaa / AA+
NR

1.25 1.19
3130ASME6 FHLB Note

3.000% Due 07/08/2024
500,000.00 07/07/2022

3.10%
499,030.00
499,384.30

98.17 4.49%
490,856.50
3,458.33

1.63%
(8,527.80)
Aaa / AA+
NR

1.27 1.22
3133ENG20 FFCB Note

3.300% Due 08/15/2024
500,000.00 08/16/2022

3.30%
500,030.00
500,020.66

98.47 4.46%
492,356.00
2,108.33

1.63%
(7,664.66)
Aaa / AA+
AAA

1.38 1.32
3130AQF40 FHLB Note

1.000% Due 12/20/2024
400,000.00 07/27/2022

3.15%
380,296.00
385,851.81

94.61 4.28%
378,438.40
1,122.22

1.25%
(7,413.41)
Aaa / AA+
AAA

1.73 1.67
3135G0X24 FNMA Note

1.625% Due 01/07/2025
450,000.00 06/21/2022

3.34%
431,334.00
437,014.08

95.59 4.24%
430,170.30
1,706.25

1.42%
(6,843.78)
Aaa / AA+
AAA

1.78 1.71
3135G05X7 FNMA Note

0.375% Due 08/25/2025
400,000.00 06/22/2022

3.27%
365,400.00
373,818.64

91.55 4.11%
366,214.00
150.00

1.21%
(7,604.64)
Aaa / AA+
AAA

2.41 2.34
3133EPBJ3 Federal Farm Credit Bank Note

4.375% Due 02/23/2026
625,000.00 02/21/2023

4.50%
622,781.25
622,856.15
100.55

4.17%
628,410.00
2,886.28

2.08%
5,553.85
Aaa / AA+
AAA

2.90 2.68
3133EPCF0 Federal Farm Credit Bank Note

4.500% Due 03/02/2026
625,000.00 03/23/2023

3.97%
634,031.25
633,963.98
101.20

4.06%
632,505.00
2,265.63

2.09%
(1,458.98)
Aaa / AA+
AAA

2.92 2.71
3133EPBM6 Federal Farm Credit Bank Note

4.125% Due 08/23/2027
625,000.00 02/21/2023

4.26%
621,612.50
621,688.83
101.18

3.83%
632,366.88
2,721.35

2.09%
10,678.05
Aaa / AA+
AAA

4.40 3.97
TOTAL Agency 7,800,000.00 3.42%
7,681,906.15
7,730,404.97 4.48%
7,666,479.86
30,864.71

25.35%
(63,925.11)
Aaa / AA+
AAA

1.64 1.54
CMO
3137BTU25 FHLMC K724 A2

3.062% Due 11/25/2023
326,195.03 06/13/2022

3.46%
324,627.76
325,487.23

98.61 5.48%
321,652.11
832.34

1.06%
(3,835.12)

NR / NR
AAA

0.65 0.50
3137BFXT3 FHLMC K042 A2

2.670% Due 12/25/2024
380,000.00 06/22/2022

3.52%
372,459.38
374,820.07

96.90 4.62%
368,201.38
169.10

1.21%
(6,618.69)
Aaa / NR
NR

1.74 1.53
As of March 31, 2023
25 83
Holdings Report
City of Santa Paula - Account #10939
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
3137BHCY1 FHLMC K044 A2

2.811% Due 01/25/2025
313,268.31 06/16/2022

4.46%
306,072.95
308,276.72

97.00 4.59%
303,870.89
733.83

1.00%
(4,405.83)

NR / NR
AAA

1.82 1.62
3137BM7C4 FHLMC K051 A2

3.308% Due 09/25/2025
380,000.00 06/23/2022

3.33%
379,198.44
379,389.68

97.29 4.48%
369,698.96
1,047.53

1.22%
(9,690.72)

NR / NR
AAA

2.49 2.20
3137BNGT5 FHLMC K054 A2

2.745% Due 01/25/2026
390,000.00 12/14/2022

4.45%
373,364.06
374,909.15

95.73 4.41%
373,362.21
892.13

1.23%
(1,546.94)

NR / AAA
NR

2.82 2.53
3137BTAC5 FHLMC K060 A2

3.300% Due 10/25/2026
400,000.00 07/28/2022

3.10%
402,437.50
402,044.30

96.70 4.28%
386,785.20
1,100.00

1.28%
(15,259.10)

NR / NR
AAA

3.57 3.28
3137F2LJ3 FHLMC K066 A2

3.117% Due 06/25/2027
400,000.00 10/18/2022

4.72%
374,687.50
377,122.55

95.76 4.23%
383,050.80
1,039.00

1.26%
5,928.25

NR / NR
AAA

4.24 3.76
TOTAL CMO 2,589,463.34 3.85%
2,532,847.59
2,542,049.70 4.56%
2,506,621.55
5,813.93

8.27%
(35,428.15)
Aaa / AAA
AAA

2.55 2.27
Corporate
037833CU2 Apple Inc Callable Note Cont 3/11/2024

2.850% Due 05/11/2024
550,000.00 Various

3.24%
546,140.25
547,712.36

98.31 4.43%
540,679.70
6,095.83

1.80%
(7,032.66)
Aaa / AA+
NR

1.12 1.07
023135CE4 Amazon.com Inc Note

3.000% Due 04/13/2025
550,000.00 Various

3.12%
548,249.50
548,719.87

97.54 4.28%
536,454.60
7,700.00

1.79%
(12,265.27)
A1 / AA
AA2.041.92
06367WB85 Bank of Montreal Note

1.850% Due 05/01/2025
575,000.00 06/27/2022

4.01%
542,000.75
550,783.58

93.66 5.10%
538,538.10
4,432.29

1.79%
(12,245.48)
A2 / AAA2.09

1.99 06406RBF3 Bank of NY Mellon Corp Callable Note Cont 6/13/2024

3.430% Due 06/13/2025
550,000.00 Various

3.74%
548,586.00
548,946.38

97.65 5.35%
537,094.26
5,659.50

1.79%
(11,852.12)
A1 / A
AA2.212.05
46647PDE3 JP Morgan Chase & Co Callable Note Cont 6/14/2025

3.845% Due 06/14/2025
550,000.00 06/27/2022

4.87%
544,335.00
545,781.38

98.06 5.50%
539,303.60
6,344.25

1.80%
(6,477.78)
A1 / AAA2.21

1.16 26442UAA2 Duke Energy Progress LLC Callable Note Cont 5/15/25

3.250% Due 08/15/2025
550,000.00 06/27/2022

3.68%
543,120.00
544,781.31

96.91 4.64%
532,980.80
2,284.03

1.76%
(11,800.51)
Aa3 / A
NR

2.38 2.24
194162AM5 Colgate Palmolive Co. Note

3.100% Due 08/15/2025
160,000.00 08/01/2022

3.13%
159,852.80
159,884.19

97.45 4.24%
155,916.96
633.78

0.52%
(3,967.23)
Aa3 / AANR2.38

2.25 931142EW9 Wal-Mart Stores Note

3.900% Due 09/09/2025
480,000.00 Various

4.50%
472,168.00
473,508.14

99.70 4.03%
478,545.12
1,144.00

1.58%
5,036.98
Aa2 / AA
AA

2.45 2.30
594918BJ2 Microsoft Callable Note Cont 8/3/2025

3.125% Due 11/03/2025
625,000.00 01/20/2023

4.28%
606,287.50
607,523.93

97.53 4.14%
609,538.13
8,029.51

2.03%
2,014.20
Aaa / AAA
NR

2.60 2.42
As of March 31, 2023
26 84
Holdings Report
City of Santa Paula - Account #10939
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
92826CAD4 Visa Inc Callable Note Cont 9/14/2025

3.150% Due 12/14/2025
500,000.00 08/17/2022

3.57%
493,510.00
494,713.83

97.12 4.28%
485,599.50
4,681.25

1.61%
(9,114.33)
Aa3 / AANR2.71

2.53 TOTAL Corporate 5,090,000.00 3.86%
5,004,249.80
5,022,354.97 4.63%
4,954,650.77
47,004.44

16.47%
(67,704.20)
Aa3 / AAAA2.20

1.97 Money Market Fund
31846V203 First American Govt Obligation Fund Class Y 60,964.10 Various

4.32%
60,964.10
60,964.10

1.00 4.32%
60,964.10

0.00 0.20%

0.00 Aaa / AAA
AAA

0.00 0.00
TOTAL Money Market Fund 60,964.10 4.32%
60,964.10
60,964.10 4.32%
60,964.10

0.00 0.20%

0.00 Aaa / AAA
AAA

0.00 0.00
Negotiable CD
06417MB53 Bank of Nova Scotia Houston Yankee CD

3.700% Due 07/31/2023
500,000.00 07/29/2022

3.70%
500,000.00
500,000.00

99.46 5.18%
497,320.00
12,641.67

1.68%
(2,680.00)
P-1 / A-1
F-1+

0.33 0.33
TOTAL Negotiable CD 500,000.00 3.70%
500,000.00
500,000.00 5.18%
497,320.00
12,641.67

1.68%
(2,680.00)
Aaa / AA
AAA

0.33 0.33
Supranational
4581X0EE4 Inter-American Dev Bank Note

3.250% Due 07/01/2024
550,000.00 Various

3.26%
549,937.50
549,960.92

98.52 4.48%
541,865.50
4,468.75

1.80%
(8,095.42)
Aaa / AAA
AAA

1.25 1.20
459058EP4 Intl. Bank Recon & Development Note

2.500% Due 07/29/2025
500,000.00 08/16/2022

3.31%
488,765.00
491,124.77

96.69 4.00%
483,429.00
2,152.78

1.60%
(7,695.77)
Aaa / AAA
AAA

2.33 2.22
TOTAL Supranational 1,050,000.00 3.28%
1,038,702.50
1,041,085.69 4.25%
1,025,294.50
6,621.53

3.40%
(15,791.19)
Aaa / AAA
AAA

1.76 1.68
US Treasury
9128285Z9 US Treasury Note

2.500% Due 01/31/2024
600,000.00 07/18/2022

3.20%
593,789.06
596,623.29

98.17 4.75%
589,031.40
2,486.19

1.95%
(7,591.89)
Aaa / AA+
AAA

0.84 0.81
912828B66 US Treasury Note

2.750% Due 02/15/2024
600,000.00 06/28/2022

3.09%
596,812.50
598,288.59

98.32 4.72%
589,945.20
2,051.10

1.95%
(8,343.39)
Aaa / AA+
AAA

0.88 0.85
91282CEG2 US Treasury Note

2.250% Due 03/31/2024
230,000.00 07/18/2022

3.21%
226,370.31
227,866.61

97.69 4.64%
224,690.22

14.14 0.74%
(3,176.39)
Aaa / AA+
AAA

1.00 0.97
91282CBV2 US Treasury Note

0.375% Due 04/15/2024
625,000.00 06/27/2022

3.13%
595,166.02
607,744.43

95.71 4.64%
598,217.50
1,081.73

1.97%
(9,526.93)
Aaa / AA+
AAA

1.04 1.01
912828WJ5 US Treasury Note

2.500% Due 05/15/2024
600,000.00 06/28/2022

3.13%
593,156.25
595,909.71

97.80 4.53%
586,781.40
5,676.80

1.95%
(9,128.31)
Aaa / AA+
AAA

1.13 1.08
As of March 31, 2023
27 85
Holdings Report
City of Santa Paula - Account #10939
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
912828XX3 US Treasury Note

2.000% Due 06/30/2024
500,000.00 07/25/2022

3.01%
490,566.41
493,898.27

97.03 4.46%
485,156.50
2,513.81

1.61%
(8,741.77)
Aaa / AA+
AAA

1.25 1.21
91282CCL3 US Treasury Note

0.375% Due 07/15/2024
650,000.00 06/28/2022

3.14%
614,656.25
627,714.98

94.98 4.41%
617,398.60
511.74

2.03%
(10,316.38)
Aaa / AA+
AAA

1.29 1.26
91282CCT6 US Treasury Note

0.375% Due 08/15/2024
625,000.00 06/27/2022

3.16%
589,331.05
602,014.36

94.71 4.37%
591,943.13
291.35

1.95%
(10,071.23)
Aaa / AA+
AAA

1.38 1.35
91282CCX7 US Treasury Note

0.375% Due 09/15/2024
650,000.00 06/28/2022

3.19%
611,203.13
624,439.14

94.48 4.33%
614,123.25
112.60

2.02%
(10,315.89)
Aaa / AA+
AAA

1.46 1.42
91282CDB4 US Treasury Note

0.625% Due 10/15/2024
625,000.00 06/27/2022

3.18%
589,843.75
601,436.94

94.58 4.30%
591,113.13
1,802.88

1.95%
(10,323.81)
Aaa / AA+
AAA

1.55 1.50
912828G38 US Treasury Note

2.250% Due 11/15/2024
625,000.00 06/29/2022

3.16%
612,060.55
616,155.31

96.86 4.27%
605,395.63
5,322.00

2.01%
(10,759.68)
Aaa / AA+
AAA

1.63 1.56
91282CDN8 US Treasury Note

1.000% Due 12/15/2024
650,000.00 06/29/2022

3.18%
616,712.89
626,895.27

94.76 4.21%
615,951.05
1,910.71

2.03%
(10,944.22)
Aaa / AA+
AAA

1.71 1.66
912828J27 US Treasury Note

2.000% Due 02/15/2025
600,000.00 06/27/2022

3.22%
581,648.44
586,927.13

96.14 4.16%
576,843.60
1,491.71

1.90%
(10,083.53)
Aaa / AA+
AAA

1.88 1.81
91282CED9 US Treasury Note

1.750% Due 03/15/2025
600,000.00 06/02/2022

2.84%
582,656.25
587,811.58

95.65 4.09%
573,890.40
485.05

1.89%
(13,921.18)
Aaa / AA+
AAA

1.96 1.89
91282CEH0 US Treasury Note

2.625% Due 04/15/2025
900,000.00 Various

3.11%
888,492.19
891,562.63

97.18 4.08%
874,617.30
10,903.85

2.92%
(16,945.33)
Aaa / AA+
AAA

2.04 1.94
912828XB1 US Treasury Note

2.125% Due 05/15/2025
600,000.00 06/02/2022

2.83%
588,070.31
591,415.50

96.13 4.04%
576,796.80
4,825.28

1.92%
(14,618.70)
Aaa / AA+
AAA

2.13 2.03
91282CAB7 US Treasury Note

0.250% Due 07/31/2025
650,000.00 06/02/2022

2.87%
598,812.50
612,208.19

91.83 3.94%
596,908.00
269.34

1.97%
(15,300.19)
Aaa / AA+
AAA

2.34 2.29
91282CFW6 US Treasury Note

4.500% Due 11/15/2025
600,000.00 11/09/2022

4.55%
599,156.25
599,261.72
101.48

3.90%
608,859.60
10,218.23

2.04%
9,597.88
Aaa / AA+
AAA

2.63 2.42
91282CGA3 US Treasury Note

4.000% Due 12/15/2025
335,000.00 12/14/2022

3.92%
335,758.98
335,684.88
100.39

3.84%
336,308.51
3,939.01

1.12%
623.63
Aaa / AA+
AAA

2.71 2.52
912828U24 US Treasury Note

2.000% Due 11/15/2026
270,000.00 10/24/2022

4.43%
245,921.48
248,488.56

94.05 3.77%
253,926.63
2,043.65

0.84%
5,438.07
Aaa / AA+
AAA

3.63 3.42
TOTAL US Treasury 11,535,000.00 3.23%
11,150,184.57
11,272,347.09 4.28%
11,107,897.85
57,951.17

36.77%
(164,449.24)
Aaa / AA+
AAA

1.68 1.61
TOTAL PORTFOLIO 31,081,411.31 3.49%
30,353,836.57
30,579,130.22 4.50%
30,203,053.75
162,895.64
100.00%
(376,076.47)
Aa1 / AA+
AAA

1.94 1.65
TOTAL MARKET VALUE PLUS ACCRUALS 30,365,949.39
As of March 31, 2023
28 86
SECTION | Section 4 | Transactions
29 87
Transaction Ledger
City of Santa Paula - Account #10939
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount InterestPur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 01/24/2023 594918BJ2 625,000.00 Microsoft Callable Note Cont 8/3/2025

3.125% Due: 11/03/2025

97.006 4.28% 606,287.50 4,394.53 610,682.03 0.00
Purchase 01/25/2023 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due: 11/15/2027

99.988 4.56% 99,988.00 0.00 99,988.00 0.00
Purchase 02/15/2023 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due: 11/25/2025

99.998 5.22% 39,999.05 0.00 39,999.05 0.00
Purchase 02/23/2023 3133EPBJ3 625,000.00 Federal Farm Credit Bank Note

4.375% Due: 02/23/2026

99.645 4.50% 622,781.25 0.00 622,781.25 0.00
Purchase 02/23/2023 3133EPBM6 625,000.00 Federal Farm Credit Bank Note

4.125% Due: 08/23/2027

99.458 4.26% 621,612.50 0.00 621,612.50 0.00
Purchase 03/24/2023 3133EPCF0 625,000.00 Federal Farm Credit Bank Note

4.5% Due: 03/02/2026
101.445 3.97% 634,031.25 1,718.75 635,750.00 0.00
Subtotal 2,640,000.00 2,624,699.55 6,113.28 2,630,812.83 0.00 TOTAL ACQUISITIONS 2,640,000.00 2,624,699.55 6,113.28 2,630,812.83 0.00

DISPOSITIONS
Sale 01/23/2023 912828ZH6 625,000.00 US Treasury Note

0.25% Due: 04/15/2023

99.012 2.85% 618,823.24 429.26 619,252.50 -2,593.95
Sale 02/22/2023 912828ZU7 625,000.00 US Treasury Note

0.25% Due: 06/15/2023

98.609 2.93% 616,308.59 296.19 616,604.78 -3,607.36
Sale 02/22/2023 91282CAP6 625,000.00 US Treasury Note

0.125% Due: 10/15/2023

96.898 3.06% 605,615.23 279.02 605,894.25 -7,898.00
Subtotal 1,875,000.00 1,840,747.06 1,004.47 1,841,751.53 -14,099.31 December 31, 2022 through March 31, 2023
As of March 31, 2023
30 88
Transaction Ledger
City of Santa Paula - Account #10939
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount InterestPur/Sold Total Amount Gain/Loss Call 03/05/2023 06051GHF9 550,000.00 Bank of America Corp Callable Note 1X 3/5/2023 Due: 03/05/2024
100.000 5.12% 550,000.00 0.00 550,000.00 806.51
Subtotal 550,000.00 550,000.00 0.00 550,000.00 806.51
TOTAL DISPOSITIONS 2,425,000.00 2,390,747.06 1,004.47 2,391,751.53 -13,292.80 December 31, 2022 through March 31, 2023
As of March 31, 2023
31 89
Important Disclosures
2023 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Source ICE Data Indices, LLC ("ICE"), used with permission. ICE permits use of the ICE indices and related data on an "as is" basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providers guarantee the quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an "as is" basis and licensee's use it at licensee's own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler asset management, or any of its products or services.

This report is provided for informational purposes only and should not be construed as a specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment.

Fixed income investments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates.

Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P, Moody’s and Fitch respectively.

Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account.

As of March 31, 2023
32 90
Benchmark Disclosures
ICE BofA 1-3 Yr US Treasury & Agency Index
The ICE BofA 1-3 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than three years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.

As of March 31, 2023
33 91
Exhibit F
------------------------------------ --------------------------

QTRLY INTEREST

SUMMARY OF CASH AND INVESTMENTS TOTAL EARNED
------------------------------------ -------------------------- Bank of the Sierra Checking Account $631,132.31 -
Petty Cash $4,100.00 -
Treasurer's Imprest Account - Bank of the Sierra $1,500.00 - Community Center Mastercard $421.06 -

INVESTMENTS
State of California-LAIF $31,821,598.79 $213,880.97
Chandler Asset Management $30,579,130.00 $213,635.85
Passbook Accounts $313,187.17 $38.61
Fiscal Agent Investments $68,064,232.72 $269.29
Total Investments $130,778,148.68 $427,824.72
---------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------- -------------------------- Grand Total $131,415,302.05 $427,824.72
============================================================ ================ ==================== =============== All investments of the City are in compliance with the Statement of Investment Policy.

Maturities and cash availability will meet the City's budgeted expenditures for the next six months.

POOLED CASH INVESTMENTS

STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND (LAIF) ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- ------------------------ --------------------------- DESCRIPTION MATURITY 12/31 INTEREST INVESTED MARKET TOTAL QTRLY INTEREST

DATE RATE AMOUNT VALUE INVESTED EARNED
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- ------------------------ --------------------------- CITY ACCOUNT 2.74% $31,821,598.79 $31,821,598.79 $31,821,598.79 $213,880.97 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- ------------------------ --------------------------- TOTAL LAIF ACCOUNTS $31,821,598.79 $31,821,598.79 $31,821,598.79 $213,880.97 ================================================================================================== =============== ============= =============== CHANDLER ASSET MANAGEMENT*
* For more information, please see attached report.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- ------------------------ --------------------------- DESCRIPTION MATURITY 12/31 INTEREST INVESTED BOOK VALUE MARKET TOTAL QTRLY INTEREST

SPECIFIC CASH INVESTMENTS

PASSBOOK
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- ------------------------ --------------------------- DESCRIPTION 12/31 INTEREST INVESTED MARKET TOTAL QTRLY INTEREST

RATE AMOUNT VALUE INVESTED EARNED
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- ------------------------ --------------------------- Bank of the Sierra CD 0.05% $313,187.17 $313,187.17 $313,187.17 $38.61 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- ------------------------ --------------------------- TOTAL PASSBOOK ACCOUNTS $313,187.17 $313,187.17 $313,187.17 $38.61 ================================================================================================== =============== ============= ===============

CASH WITH FISCAL AGENT - INVESTMENTS
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- ------------------------ ------------------------------------------------------ DESCRIPTION 12/31 INTEREST INVESTED MARKET TOTAL PAR QTRLY INTEREST

RATE AMOUNT VALUE INVESTED VALUE EARNED
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- ------------------------ ------------------------------------------------------ SANTA PAULA REDEVELOPMENT AGY-RDA BOND SERIES 1994
US Bank-DLA Fiscal Agent-Interest Acct 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 US Bank-First American Treasury Oblig None 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$5,900,000 SANTA PAULA UTILITY AUTHORITY WASTEWATER ENTERPRISE REVENUE BONDS, 2010A SERIES The Bank of New York Mellon-Wastewater Interest Fund 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 The Bank of New York Mellon-Wastewater Project Fund 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$6,130,000 SANTA PAULA UTILITY AUTHORITY WASTEWATER ENTERPIRSE REVENUE BONDS, 2010B SERIES (TAXABLE) The Bank of New York Mellon-Wastewater Reserve Acct 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 The Bank of New York Mellon-Wastewater Bond Acct 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 FOR THE QUARTER ENDED MARCH 31, 2023
FOR THE COUNCIL MEETING OF MAY 17, 2023

CITY OF SANTA PAULA

TREASURER'S REPORT OF INVESTMENTS
FOR THE QUARTER ENDED MARCH 31, 2023

CITY OF SANTA PAULA

TREASURER'S REPORT OF INVESTMENTS
92 The Bank of New York Mellon-Wastewater Project Fund 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$55,715,000 SANTA PAULA UTILITY AUTHORITY WATER ENTERPRISE REVENUE BONDS, 2010 SERIES The Bank of New York Mellon-Water Reserve Acct 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 The Bank of New York Mellon-Water Project Fund 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 The Bank of New York Mellon-Water Bond Fund 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 The Bank of New York Mellon-Water Interest Acct 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$67,195,000 SANTA PAULA UTILITY AUTHORITY 2015 WASTEWATER ENTERPRISE REVENUE BONDS The Bank of New York Mellon-Wastewater 2015 Bond Fund 0.00% $5.22 $5.22 $5.22 $5.22 - The Bank of New York Mellon-Wastewater 2015 Interest Fund 0.00% $0.00 $0.00 $0.00 $0.00 - The Bank of New York Mellon-Wastewater Reserve Acct 0.00% $25.27 $25.27 $25.27 $25.27 - $30.49
$37,165,000 SANTA PAULA UTILITY AUTHORITY 2019 WATER REVENUE BONDS The Bank of New York Mellon-Water 2019 Project Fund 0.03% $3,028,165.34 $3,028,165.34 $3,028,165.34 $3,028,165.34 229.61 The Bank of New York Mellon-Water 2019 Bond Fund 0.00% $10.75 $10.75 $10.75 $10.75 - The Bank of New York Mellon-Water 2019 COI Fund 0.00% $0.00 $0.00 $0.00 $0.00 - The Bank of New York Mellon-Water 2019 Escrow Fund 0.00% $0.00 $0.00 $0.00 $0.00 - $3,028,176.09
$19,380,000 HARVEST COMMUNITY FACILTIES DISTRICT NO. 1 IMPROVEMENT AREA A The Bank of New York Mellon-CFD 2020 Bond Fund 0.00% $0.35 $0.35 $0.35 $0.35 - The Bank of New York Mellon-CFD 2020 COI Fund 0.00% $0.00 $0.00 $0.00 $0.00 - The Bank of New York Mellon-CFD 2020 Improvement Fund 0.00% $45.24 $45.24 $45.24 $45.24 - The Bank of New York Mellon-CFD 2020 Reserve Fund 0.01% $1,537,716.10 $1,537,716.10 $1,537,716.10 $1,537,716.10 39.68 $1,537,761.69
SANTA PAULA UTILITY AUTHORITY REVENUE BONDS $3,765,000 SERIES A AND $65,360,000 SERIES B The Bank of New York Mellon-UA 2020 COI Fund 0.00% $1,633.27 $1,633.27 $1,633.27 $1,633.27 - The Bank of New York Mellon-UA 2020 Principal Fund 0.00% $0.00 $0.00 $0.00 $0.00 - The Bank of New York Mellon-UA 2020 Principal Fund 0.00% $0.00 $0.00 $0.00 $0.00 - The Bank of New York Mellon-UA 2020 COI Fund 0.00% $7,775.18 $7,775.18 $7,775.18 $7,775.18 - The Bank of New York Mellon-UA 2020 Escrow Fund 0.25% $63,488,856.00 $63,488,856.00 $63,488,856.00 $63,488,856.00 - $63,498,264.45
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- ------------------------ ------------------------------------------------------ TOTAL FISCAL AGENT INVESTMENTS $68,064,232.72 $68,064,232.72 $68,064,232.72 $68,064,232.72 $269.29 ================================================================================================== =============== ============= =============== =============== GRAND TOTAL INVESTMENTS $130,778,148.68 $214,188.87
93 MONTHLY ACCOUNT STATEMENT
City of Santa Paula - Account #10939
MARCH 1, 2023 THROUGH MARCH 31, 2023
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures.

CHANDLER ASSET MANAGEMENT
chandlerasset.com
Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian
US Bank
Alexander Bazan
(503) 402-5305
94 ACCOUNT SUMMARY
Beg. Values
as of 2/28/23
End Values
as of 3/31/23
Market Value 29,822,891 30,203,054
Accrued Interest 155,427 162,896
Total Market Value 29,978,318 30,365,949
Income Earned 82,827 87,662
Cont/WD -238
Par 31,037,507 31,081,411
Book Value 30,498,369 30,579,130
Cost Value 30,299,047 30,353,837

TOP ISSUERS
Government of United States 36.8%
Federal Farm Credit Bank 10.6%
Federal Home Loan Bank 10.4%
Federal Home Loan Mortgage Corp 10.1%
Federal National Mortgage Assoc 2.6%
Microsoft 2.0%
Apple Inc 1.8%
Inter-American Dev Bank 1.8%
Total 76.0%

PORTFOLIO CHARACTERISTICS
Average Modified Duration 1.65
Average Coupon 2.38%
Average Purchase YTM 3.49%
Average Market YTM 4.50%
Average S&P/Moody Rating AA+/Aa1
Average Final Maturity 1.94 yrs
Average Life 1.74 yrs

SECTOR ALLOCATION MATURITY DISTRIBUTION CREDIT QUALITY (S&P) Portfolio Summary
As of March 31, 2023
City of Santa Paula
Account #10939

PERFORMANCE REVIEW
Annualized
TOTAL RATE OF RETURN 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS 6/30/2022 City of Santa Paula 1.29% 1.44% 1.44% N/A N/A N/A N/A N/A N/A ICE BofA 1-3 Yr US Treasury & Agency Index 1.60% 1.55% 1.55% N/A N/A N/A N/A N/A N/A Chandler Asset Management - CONFIDENTIAL Page 1 Execution Time: 4/3/2023 11:10:51 PM 95 Category Standard Comment
U.S. Treasuries No limitation; U.S. Treasury bills, notes, & bonds, or certificates of indebtedness, or those for which the full faith and credit of the U.S. Government are pledged for the payment of principal and interest Complies Federal Agencies
30% max per Agency/GSE issuer; 20% max callable agency securities; Federal agencies or U.S. government-sponsored enterprise obligations, participations, or other instruments, including those issued or fully guaranteed as to principal and interest by federal agencies or U.S. government sponsored enterprises.

Complies
Supranational Obligations "AA" rating category or higher by a NRSRO; 30% max; 10% max per issuer; USD denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by IBRD, IFC, or IADB Complies Municipal Securities (CA, Other States)
“AA” or “A-1” (for short-term securities) rating category or higher by a NRSRO; 30% max; 5% max per issuer; Bonds, notes, warrants or other evidence of debt issued by a local agency or municipality located within the State of California, including debt securities issued by the City; Bonds issued by any of the 50 United States, including bonds payable solely out of the revenues from a revenue producing property owned, controlled, or operated by a state or by a department, board, agency, or authority of any state.

Complies
Corporate Medium Term Notes
"AA" rating category or higher by a NRSRO; and "A" issuer rated or higher by a NRSRO; 30% max; 5% max per issuer; Issues by corporations organized and operating within the U.S. or by depository institutions licensed by the U.S. or any state and operating within the U.S
Complies
Asset-Backed, Mortgage-Backed,
Mortgage Pass-Through Securities, and
Collateralized Mortgage Obligations
"AA" rating category or higher by a NRSRO; 20% max (combined ABS/MBS/CMO); 5% max per issuer (except for Federal Agency securities); Any mortgage pass-through security, collateralized mortgage obligation, mortgage-backed or other paythrough bond, equipment leaseback certificate, consumer receivable pass-through certificate, or consumer receivablebacked bond Complies
Negotiable Certificates of Deposit (NCD)
Negotiable CDs issued with maturities in excess of one year must be rated in a rating category of “A”, the equivalent or higher by a NRSRO. Negotiable CDs with maturities under one year must be rated in a rating category of “A-1,” the equivalent, or higher by a NRSRO; 30% max (combined with CDARS); 5% max per issuer; Issued by a nationally or statechartered bank, or a state or federal savings and loan association, a state or federal credit union, or by a federally- or statelicensed branch of a foreign bank. Complies Certificate of Deposit Placement Service
(CDARS) 30% max (combination with Negotiable CDs) Complies Non-Negotiable Certificates of Deposit
(CD)
20% max; 5% max per issuer; FDIC insured or Collateralized; Non-negotiable deposits in a state or national bank, savings association or federal association, federal or state credit union in the State of California as authorized by CGC Complies Banker’s Acceptances
Highest short-term rating category by a NRSRO for issuing financial institutions; 40% max; 5% max per issuer; 180 days max maturity
Complies
Commercial Paper
"Prime" quality of the highest rating by a NRSRO; 25% max; 5% max per issuer; 270 days maturity; 10% max of the outstanding commercial paper of any single issuer; Issued by an entity that meets all of the following conditions in either (1) or (2):

1. (a) organized and operating in the U.S. as a general corporation (b) has assets > $500 million; (c) "A" rating category or higher by a NRSRO, if any debt

2. (a) organized within the U.S. as a special purpose corporation, trust, or limited liability company; (b) has program-wide credit enhancements including, but not limited to, overcollateralization, letters of credit, or a surety bond; (c) "A-1" rating category or higher by a NRSRO.

Complies
Statement of Compliance
As of March 31, 2023
City of Santa Paula
Assets managed by Chandler Asset Management are in full compliance with state law and the Client's investment policy. 96 Money Market and Mutual Funds
Highest rating by two NRSROs; 20% max in Money Market or Mutual Funds; 20% per fund; Issued by diversified management companies; Registered with SEC under Investment Company Act of 1940; Money market or mutual funds intended to maintain constant net asset value and that invest solely in U.S. Treasuries and Federal Agency obligations and repurchase agreements invested in such obligations
Complies
Local Agency Investment Fund (LAIF) California State Treasurer's Local Agency Investment Fund (LAIF) as authorized by Gov. Code Section 16429.1(b). Complies Local Government Investment Pool
(LGIP)/ Other Pools/ Joint Powers
Authority
Shares of beneficial interest issued by a joint powers authority organized in the State of California pursuant to Gov. Code Section 53601 subdivisions (a) to (q), inclusive. Each share shall represent an equal proportional interest in the underlying pool of securities owned by the joint powers authority. Purchases are limited to those pools that seek to maintain a constant net asset value and are rated in the highest category by a NRSRO. The joint powers authority issuing the shares shall have retained an investment adviser that meets all of the following criteria: (1) registered or exempt from registration with the SEC; (2) has not less than five years of experience investing in the securities and obligations authorized in subdivisions (a) to (q), inclusive, of [Gov. Code] section 53601; and (3) has assets under management > $500,000,000 Complies
Ventura County Investment Pool (VCIP) Ventura County Treasurer's Investment Pool as authorized by California Government Code Complies Max Per Issuer
5% max per issuer, except for U.S. Treasury, Federal Agency securities, authorized pools, mutual funds, Supranationals, and collateralized investments Complies
Maximum Maturity 5 years max maturity Complies
97 BOOK VALUE RECONCILIATION
BEGINNING BOOK VALUE $30,498,369.45
Acquisition
+ Security Purchases $634,031.25
+ Money Market Fund Purchases $648,137.63
+ Money Market Contributions $0.00
+ Security Contributions $0.00
+ Security Transfers $0.00
Total Acquisitions $1,282,168.88
Dispositions
- Security Sales $0.00
- Money Market Fund Sales $635,750.00
- MMF Withdrawals $238.47
- Security Withdrawals $0.00
- Security Transfers $0.00
- Other Dispositions $0.00
- Maturities $0.00
- Calls $550,000.00
- Principal Paydowns $43,244.94
Total Dispositions $1,229,233.41
Amortization/Accretion
+/- Net Accretion $27,018.79
$27,018.79
Gain/Loss on Dispositions
+/- Realized Gain/Loss $806.51
$806.51
ENDING BOOK VALUE $30,579,130.22

CASH TRANSACTION SUMMARY
BEGINNING BALANCE $48,814.94
Acquisition
Contributions $0.00
Security Sale Proceeds $0.00
Accrued Interest Received $0.00
Interest Received $54,605.62
Dividend Received $287.07
Principal on Maturities $0.00
Interest on Maturities $0.00
Calls/Redemption (Principal) $550,000.00
Interest from Calls/Redemption $0.00
Principal Paydown $43,244.94
Total Acquisitions $648,137.63
Dispositions
Withdrawals $238.47
Security Purchase $634,031.25
Accrued Interest Paid $1,718.75
Total Dispositions $635,988.47
ENDING BOOK VALUE $60,964.10
Reconciliation Summary
As of March 31, 2023
City of Santa Paula
Account #10939
Chandler Asset Management - CONFIDENTIAL Page 3 Execution Time: 4/3/2023 11:10:51 PM 98 Holdings Report
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
ABS
89240BAC2 Toyota Auto Receivables Owners 2021-
A A3

0.26% Due 5/15/2025
205,983.87 06/07/2022

2.63%
201,727.42
203,680.77

97.46 5.57%
200,748.79

23.80 0.66%
(2,931.98)
Aaa / NR
AAA

2.13 0.48
43815EAC8 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
350,000.00 07/27/2022

3.40%
335,152.34
339,485.11

96.28 5.48%
336,975.10

51.82 1.11%
(2,510.01)

NR / AAA
AAA

2.64 0.73
05593AAC3 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025
40,000.00 02/07/2023

5.22%
39,999.05
39,999.11
100.29

5.02%
40,116.60

34.40 0.13%
117.49
Aaa / AAA
NR

2.66 1.51
05522RDC9 Bank of America Credit Card Tr 2020-A1
A1

0.34% Due 5/15/2026
380,000.00 06/15/2022

3.67%
361,757.03
371,379.70

96.65 5.31%
367,251.76

57.42 1.21%
(4,127.94)
Aaa / AAA
NR

3.13 0.68
362554AC1 GM Financial Securitized Term 2021-4
A3

0.68% Due 9/16/2026
200,000.00 06/13/2022

3.26%
190,492.19
193,235.74

94.86 5.77%
189,728.40

56.67 0.62%
(3,507.34)
Aaa / AAA
NR

3.47 1.02
02582JJR2 American Express 2021-1 A

0.9% Due 11/15/2026
265,000.00 06/28/2022

3.62%
248,748.05
253,903.84

93.99 4.82%
249,074.56
106.00

0.82%
(4,829.28)
Aaa / NR
AAA

3.63 1.56
44918MAD2 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026
250,000.00 08/03/2022

3.64%
250,585.94
250,459.32

98.27 4.78%
245,668.75
413.33

0.81%
(4,790.57)

NR / AAA
AAA

3.63 1.69
47800AAC4 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027
130,000.00 07/12/2022

3.77%
129,987.59
129,990.01

98.07 4.89%
127,494.64
216.09

0.42%
(2,495.37)
Aaa / NR
AAA

3.88 1.72
362585AC5 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027
250,000.00 10/24/2022

4.92%
241,562.50
242,816.94

96.84 5.16%
242,091.25
322.92

0.80%
(725.69)
Aaa / AAA
NR

3.88 1.56
47800BAC2 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027
170,000.00 10/12/2022

5.15%
169,986.81
169,988.43
100.81

4.74%
171,379.89
384.58

0.57%
1,391.46
Aaa / NR
AAA

4.21 1.98
92348KAV5 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027
115,000.00 08/02/2022

3.75%
114,994.94
114,996.10

98.64 5.10%
113,430.48
130.72

0.37%
(1,565.62)

NR / AAA
AAA

4.31 1.32
58770AAC7 Mercedes-Benz Auto Receivable 2023-1
A3

4.51% Due 11/15/2027
100,000.00 01/18/2023

4.56%
99,988.00
99,988.63

99.86 4.62%
99,864.90
200.44

0.33%
(123.73)

NR / AAA
AAA

4.63 2.08
Total ABS 2,455,983.87 3.81%
2,384,981.86
2,409,923.70 5.16%
2,383,825.12
1,998.19

7.86%
(26,098.58)
Aaa / AAA
AAA

3.41 1.24
AGENCY
3133834G3 FHLB Note

2.125% Due 6/9/2023
70,000.00 08/11/2022

3.24%
69,368.60
69,855.26

99.46 4.99%
69,620.60
462.78

0.23%
(234.66)
Aaa / AA+
NR

0.19 0.19
Chandler Asset Management - CONFIDENTIAL Page 4 Execution Time: 4/3/2023 11:10:51 PM 99 Holdings Report
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
AGENCY
3137EAEV7 FHLMC Note

0.25% Due 8/24/2023
550,000.00 06/28/2022

3.00%
532,988.50
544,140.93

98.22 4.81%
540,228.70
141.32

1.78%
(3,912.23)
Aaa / AA+
AAA

0.40 0.39
313383YJ4 FHLB Note

3.375% Due 9/8/2023
550,000.00 06/27/2022

2.99%
552,447.50
550,896.11

99.37 4.83%
546,555.90
1,185.94

1.80%
(4,340.21)
Aaa / AA+
NR

0.44 0.43
3133EMAM4 FFCB Callable Note Cont 9/21/2022

0.25% Due 9/21/2023
450,000.00 07/21/2022

3.26%
434,650.50
443,766.52

97.73 5.17%
439,798.95

31.25 1.45%
(3,967.57)
Aaa / AA+
AAA

0.48 0.46
3130APU29 FHLB Note

0.5% Due 11/9/2023
500,000.00 06/28/2022

3.06%
483,030.00
492,435.06

97.43 4.86%
487,133.50
986.11

1.61%
(5,301.56)
Aaa / AA+
NR

0.61 0.59
3130A0F70 FHLB Note

3.375% Due 12/8/2023
450,000.00 06/27/2022

3.10%
451,719.00
450,817.18

99.01 4.85%
445,549.05
4,767.19

1.48%
(5,268.13)
Aaa / AA+
AAA

0.69 0.66
3130A0XE5 FHLB Note

3.25% Due 3/8/2024
365,000.00 06/13/2022

3.23%
365,087.60
365,047.33

98.58 4.81%
359,834.89
757.88

1.19%
(5,212.44)
Aaa / AA+
NR

0.94 0.91
3133ENYX2 FFCB Note

3.25% Due 6/17/2024
375,000.00 06/15/2022

3.40%
373,946.25
374,361.41

98.43 4.59%
369,121.88
3,520.83

1.23%
(5,239.53)
Aaa / AA+
AAA

1.22 1.16
3130ASDS5 FHLB Note

2.75% Due 6/28/2024
365,000.00 06/09/2022

2.87%
364,153.20
364,486.72

97.90 4.51%
357,319.31
2,593.02

1.19%
(7,167.41)
Aaa / AA+
NR

1.25 1.19
3130ASME6 FHLB Note
3% Due 7/8/2024
500,000.00 07/07/2022

3.10%
499,030.00
499,384.30

98.17 4.49%
490,856.50
3,458.33

1.63%
(8,527.80)
Aaa / AA+
NR

1.27 1.22
3133ENG20 FFCB Note

3.3% Due 8/15/2024
500,000.00 08/16/2022

3.30%
500,030.00
500,020.66

98.47 4.46%
492,356.00
2,108.33

1.63%
(7,664.66)
Aaa / AA+
AAA

1.38 1.32
3130AQF40 FHLB Note
1% Due 12/20/2024
400,000.00 07/27/2022

3.15%
380,296.00
385,851.81

94.61 4.28%
378,438.40
1,122.22

1.25%
(7,413.41)
Aaa / AA+
AAA

1.73 1.67
3135G0X24 FNMA Note

1.625% Due 1/7/2025
450,000.00 06/21/2022

3.34%
431,334.00
437,014.08

95.59 4.24%
430,170.30
1,706.25

1.42%
(6,843.78)
Aaa / AA+
AAA

1.78 1.71
3135G05X7 FNMA Note

0.375% Due 8/25/2025
400,000.00 06/22/2022

3.27%
365,400.00
373,818.64

91.55 4.11%
366,214.00
150.00

1.21%
(7,604.64)
Aaa / AA+
AAA

2.41 2.34
3133EPBJ3 Federal Farm Credit Bank Note

4.375% Due 2/23/2026
625,000.00 02/21/2023

4.50%
622,781.25
622,856.15
100.55

4.17%
628,410.00
2,886.28

2.08%
5,553.85
Aaa / AA+
AAA

2.90 2.68
3133EPCF0 Federal Farm Credit Bank Note

4.5% Due 3/2/2026
625,000.00 03/23/2023

3.97%
634,031.25
633,963.98
101.20

4.06%
632,505.00
2,265.63

2.09%
(1,458.98)
Aaa / AA+
AAA

2.92 2.71
Chandler Asset Management - CONFIDENTIAL Page 5 Execution Time: 4/3/2023 11:10:51 PM 100
Holdings Report
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
AGENCY
3133EPBM6 Federal Farm Credit Bank Note

4.125% Due 8/23/2027
625,000.00 02/21/2023

4.26%
621,612.50
621,688.83
101.18

3.83%
632,366.88
2,721.35

2.09%
10,678.05
Aaa / AA+
AAA

4.40 3.97
Total Agency 7,800,000.00 3.42%
7,681,906.15
7,730,404.97 4.48%
7,666,479.86
30,864.71

25.35%
(63,925.11)
Aaa / AA+
AAA

1.64 1.54
CMO
3137BTU25 FHLMC K724 A2

3.062% Due 11/25/2023
326,195.03 06/13/2022

3.46%
324,627.76
325,487.23

98.61 5.48%
321,652.11
832.34

1.06%
(3,835.12)

NR / NR
AAA

0.65 0.50
3137BFXT3 FHLMC K042 A2

2.67% Due 12/25/2024
380,000.00 06/22/2022

3.52%
372,459.38
374,820.07

96.90 4.62%
368,201.38
169.10

1.21%
(6,618.69)
Aaa / NR
NR

1.74 1.53
3137BHCY1 FHLMC K044 A2

2.811% Due 1/25/2025
313,268.31 06/16/2022

4.46%
306,072.95
308,276.72

97.00 4.59%
303,870.89
733.83

1.00%
(4,405.83)

NR / NR
AAA

1.82 1.62
3137BM7C4 FHLMC K051 A2

3.308% Due 9/25/2025
380,000.00 06/23/2022

3.33%
379,198.44
379,389.68

97.29 4.48%
369,698.96
1,047.53

1.22%
(9,690.72)

NR / NR
AAA

2.49 2.20
3137BNGT5 FHLMC K054 A2

2.745% Due 1/25/2026
390,000.00 12/14/2022

4.45%
373,364.06
374,909.15

95.73 4.41%
373,362.21
892.13

1.23%
(1,546.94)

NR / AAA
NR

2.82 2.53
3137BTAC5 FHLMC K060 A2

3.3% Due 10/25/2026
400,000.00 07/28/2022

3.10%
402,437.50
402,044.30

96.70 4.28%
386,785.20
1,100.00

1.28%
(15,259.10)

NR / NR
AAA

3.57 3.28
3137F2LJ3 FHLMC K066 A2

3.117% Due 6/25/2027
400,000.00 10/18/2022

4.72%
374,687.50
377,122.55

95.76 4.23%
383,050.80
1,039.00

1.26%
5,928.25

NR / NR
AAA

4.24 3.76
Total CMO 2,589,463.34 3.85%
2,532,847.59
2,542,049.70 4.56%
2,506,621.55
5,813.93

8.27%
(35,428.15)
Aaa / AAA
AAA

2.55 2.27

CORPORATE
037833CU2 Apple Inc Callable Note Cont 3/11/2024

2.85% Due 5/11/2024
550,000.00 Various

3.24%
546,140.25
547,712.36

98.31 4.43%
540,679.70
6,095.83

1.80%
(7,032.66)
Aaa / AA+
NR

1.12 1.07
023135CE4 Amazon.com Inc Note
3% Due 4/13/2025
550,000.00 Various

3.12%
548,249.50
548,719.87

97.54 4.28%
536,454.60
7,700.00

1.79%
(12,265.27)
A1 / AA
AA2.041.92
Chandler Asset Management - CONFIDENTIAL Page 6 Execution Time: 4/3/2023 11:10:51 PM 101
Holdings Report
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration

CORPORATE
06367WB85 Bank of Montreal Note

1.85% Due 5/1/2025
575,000.00 06/27/2022

4.01%
542,000.75
550,783.58

93.66 5.10%
538,538.10
4,432.29

1.79%
(12,245.48)
A2 / AAA2.09

1.99 06406RBF3 Bank of NY Mellon Corp Callable Note
Cont 6/13/2024

3.43% Due 6/13/2025
550,000.00 Various

3.74%
548,586.00
548,946.38

97.65 5.35%
537,094.26
5,659.50

1.79%
(11,852.12)
A1 / A
AA2.212.05
46647PDE3 JP Morgan Chase & Co Callable Note
Cont 6/14/2025

3.845% Due 6/14/2025
550,000.00 06/27/2022

4.87%
544,335.00
545,781.38

98.06 5.50%
539,303.60
6,344.25

1.80%
(6,477.78)
A1 / AAA2.21

1.16 26442UAA2 Duke Energy Progress LLC Callable Note
Cont 5/15/25

3.25% Due 8/15/2025
550,000.00 06/27/2022

3.68%
543,120.00
544,781.31

96.91 4.64%
532,980.80
2,284.03

1.76%
(11,800.51)
Aa3 / A
NR

2.38 2.24
194162AM5 Colgate Palmolive Co. Note

3.1% Due 8/15/2025
160,000.00 08/01/2022

3.13%
159,852.80
159,884.19

97.45 4.24%
155,916.96
633.78

0.52%
(3,967.23)
Aa3 / AANR2.38

2.25 931142EW9 Wal-Mart Stores Note

3.9% Due 9/9/2025
480,000.00 Various

4.50%
472,168.00
473,508.14

99.70 4.03%
478,545.12
1,144.00

1.58%
5,036.98
Aa2 / AA
AA

2.45 2.30
594918BJ2 Microsoft Callable Note Cont 8/3/2025

3.125% Due 11/3/2025
625,000.00 01/20/2023

4.28%
606,287.50
607,523.93

97.53 4.14%
609,538.13
8,029.51

2.03%
2,014.20
Aaa / AAA
NR

2.60 2.42
92826CAD4 Visa Inc Callable Note Cont 9/14/2025

3.15% Due 12/14/2025
500,000.00 08/17/2022

3.57%
493,510.00
494,713.83

97.12 4.28%
485,599.50
4,681.25

1.61%
(9,114.33)
Aa3 / AANR2.71

2.53 Total Corporate 5,090,000.00 3.86%
5,004,249.80
5,022,354.97 4.63%
4,954,650.77
47,004.44

16.47%
(67,704.20)
Aa3 / AAAA2.20

1.97 MONEY MARKET FUND
31846V203 First American Govt Obligation Fund
Class Y
60,964.10 Various

4.32%
60,964.10
60,964.10

1.00 4.32%
60,964.10

0.00 0.20%

0.00 Aaa / AAA
AAA

0.00 0.00
Total Money Market Fund 60,964.10 4.32%
60,964.10
60,964.10 4.32%
60,964.10

0.00 0.20%

0.00 Aaa / AAA
AAA

0.00 0.00
Chandler Asset Management - CONFIDENTIAL Page 7 Execution Time: 4/3/2023 11:10:51 PM 102
Holdings Report
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration

NEGOTIABLE CD
06417MB53 Bank of Nova Scotia Houston Yankee CD

3.7% Due 7/31/2023
500,000.00 07/29/2022

3.70%
500,000.00
500,000.00

99.46 5.18%
497,320.00
12,641.67

1.68%
(2,680.00)
P-1 / A-1
F-1+

0.33 0.33
Total Negotiable CD 500,000.00 3.70%
500,000.00
500,000.00 5.18%
497,320.00
12,641.67

1.68%
(2,680.00)
P-1 / A-1
F-1+

0.33 0.33

SUPRANATIONAL
4581X0EE4 Inter-American Dev Bank Note

3.25% Due 7/1/2024
550,000.00 Various

3.26%
549,937.50
549,960.92

98.52 4.48%
541,865.50
4,468.75

1.80%
(8,095.42)
Aaa / AAA
AAA

1.25 1.20
459058EP4 Intl. Bank Recon & Development Note

2.5% Due 7/29/2025
500,000.00 08/16/2022

3.31%
488,765.00
491,124.77

96.69 4.00%
483,429.00
2,152.78

1.60%
(7,695.77)
Aaa / AAA
AAA

2.33 2.22
Total Supranational 1,050,000.00 3.28%
1,038,702.50
1,041,085.69 4.25%
1,025,294.50
6,621.53

3.40%
(15,791.19)
Aaa / AAA
AAA

1.76 1.68

US TREASURY
9128285Z9 US Treasury Note

2.5% Due 1/31/2024
600,000.00 07/18/2022

3.20%
593,789.06
596,623.29

98.17 4.75%
589,031.40
2,486.19

1.95%
(7,591.89)
Aaa / AA+
AAA

0.84 0.81
912828B66 US Treasury Note

2.75% Due 2/15/2024
600,000.00 06/28/2022

3.09%
596,812.50
598,288.59

98.32 4.72%
589,945.20
2,051.10

1.95%
(8,343.39)
Aaa / AA+
AAA

0.88 0.85
91282CEG2 US Treasury Note

2.25% Due 3/31/2024
230,000.00 07/18/2022

3.21%
226,370.31
227,866.61

97.69 4.64%
224,690.22

14.14 0.74%
(3,176.39)
Aaa / AA+
AAA

1.00 0.97
91282CBV2 US Treasury Note

0.375% Due 4/15/2024
625,000.00 06/27/2022

3.13%
595,166.02
607,744.43

95.71 4.64%
598,217.50
1,081.73

1.97%
(9,526.93)
Aaa / AA+
AAA

1.04 1.01
912828WJ5 US Treasury Note

2.5% Due 5/15/2024
600,000.00 06/28/2022

3.13%
593,156.25
595,909.71

97.80 4.53%
586,781.40
5,676.80

1.95%
(9,128.31)
Aaa / AA+
AAA

1.13 1.08
912828XX3 US Treasury Note
2% Due 6/30/2024
500,000.00 07/25/2022

3.01%
490,566.41
493,898.27

97.03 4.46%
485,156.50
2,513.81

1.61%
(8,741.77)
Aaa / AA+
AAA

1.25 1.21
91282CCL3 US Treasury Note

0.375% Due 7/15/2024
650,000.00 06/28/2022

3.14%
614,656.25
627,714.98

94.98 4.41%
617,398.60
511.74

2.03%
(10,316.38)
Aaa / AA+
AAA

1.29 1.26
Chandler Asset Management - CONFIDENTIAL Page 8 Execution Time: 4/3/2023 11:10:51 PM 103
Holdings Report
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration

US TREASURY
91282CCT6 US Treasury Note

0.375% Due 8/15/2024
625,000.00 06/27/2022

3.16%
589,331.05
602,014.36

94.71 4.37%
591,943.13
291.35

1.95%
(10,071.23)
Aaa / AA+
AAA

1.38 1.35
91282CCX7 US Treasury Note

0.375% Due 9/15/2024
650,000.00 06/28/2022

3.19%
611,203.13
624,439.14

94.48 4.33%
614,123.25
112.60

2.02%
(10,315.89)
Aaa / AA+
AAA

1.46 1.42
91282CDB4 US Treasury Note

0.625% Due 10/15/2024
625,000.00 06/27/2022

3.18%
589,843.75
601,436.94

94.58 4.30%
591,113.13
1,802.88

1.95%
(10,323.81)
Aaa / AA+
AAA

1.55 1.50
912828G38 US Treasury Note

2.25% Due 11/15/2024
625,000.00 06/29/2022

3.16%
612,060.55
616,155.31

96.86 4.27%
605,395.63
5,322.00

2.01%
(10,759.68)
Aaa / AA+
AAA

1.63 1.56
91282CDN8 US Treasury Note
1% Due 12/15/2024
650,000.00 06/29/2022

3.18%
616,712.89
626,895.27

94.76 4.21%
615,951.05
1,910.71

2.03%
(10,944.22)
Aaa / AA+
AAA

1.71 1.66
912828J27 US Treasury Note
2% Due 2/15/2025
600,000.00 06/27/2022

3.22%
581,648.44
586,927.13

96.14 4.16%
576,843.60
1,491.71

1.90%
(10,083.53)
Aaa / AA+
AAA

1.88 1.81
91282CED9 US Treasury Note

1.75% Due 3/15/2025
600,000.00 06/02/2022

2.84%
582,656.25
587,811.58

95.65 4.09%
573,890.40
485.05

1.89%
(13,921.18)
Aaa / AA+
AAA

1.96 1.89
91282CEH0 US Treasury Note

2.625% Due 4/15/2025
900,000.00 Various

3.11%
888,492.19
891,562.63

97.18 4.08%
874,617.30
10,903.85

2.92%
(16,945.33)
Aaa / AA+
AAA

2.04 1.94
912828XB1 US Treasury Note

2.125% Due 5/15/2025
600,000.00 06/02/2022

2.83%
588,070.31
591,415.50

96.13 4.04%
576,796.80
4,825.28

1.92%
(14,618.70)
Aaa / AA+
AAA

2.13 2.03
91282CAB7 US Treasury Note

0.25% Due 7/31/2025
650,000.00 06/02/2022

2.87%
598,812.50
612,208.19

91.83 3.94%
596,908.00
269.34

1.97%
(15,300.19)
Aaa / AA+
AAA

2.34 2.29
91282CFW6 US Treasury Note

4.5% Due 11/15/2025
600,000.00 11/09/2022

4.55%
599,156.25
599,261.72
101.48

3.90%
608,859.60
10,218.23

2.04%
9,597.88
Aaa / AA+
AAA

2.63 2.42
91282CGA3 US Treasury Note
4% Due 12/15/2025
335,000.00 12/14/2022

3.92%
335,758.98
335,684.88
100.39

3.84%
336,308.51
3,939.01

1.12%
623.63
Aaa / AA+
AAA

2.71 2.52
912828U24 US Treasury Note
2% Due 11/15/2026
270,000.00 10/24/2022

4.43%
245,921.48
248,488.56

94.05 3.77%
253,926.63
2,043.65

0.84%
5,438.07
Aaa / AA+
AAA

3.63 3.42
Total US Treasury 11,535,000.00 3.23%
11,150,184.57
11,272,347.09 4.28%
11,107,897.85
57,951.17

36.77%
(164,449.24)
Aaa / AA+
AAA

1.68 1.61
TOTAL PORTFOLIO 31,081,411.31 3.49%
30,353,836.57
30,579,130.22 4.50%
30,203,053.75
162,895.64
100.00%
(376,076.47)
Aa1 / AA+
AAA

1.94 1.65
TOTAL MARKET VALUE PLUS ACCRUED 30,365,949.39
Chandler Asset Management - CONFIDENTIAL Page 9 Execution Time: 4/3/2023 11:10:51 PM 104
Transaction Ledger
As of March 31, 2023
City of Santa Paula
Account #10939
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount InterestPur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 03/01/2023 31846V203 287.07 First American Govt Obligation Fund Class Y

1.000 4.06% 287.07 0.00 287.07 0.00
Purchase 03/05/2023 31846V203 9,762.50 First American Govt Obligation Fund Class Y

1.000 4.06% 9,762.50 0.00 9,762.50 0.00
Purchase 03/05/2023 31846V203 550,000.00 First American Govt Obligation Fund Class Y

1.000 4.06% 550,000.00 0.00 550,000.00 0.00
Purchase 03/08/2023 31846V203 15,212.50 First American Govt Obligation Fund Class Y

1.000 4.06% 15,212.50 0.00 15,212.50 0.00
Purchase 03/09/2023 31846V203 9,360.00 First American Govt Obligation Fund Class Y

1.000 4.06% 9,360.00 0.00 9,360.00 0.00
Purchase 03/15/2023 31846V203 6,468.75 First American Govt Obligation Fund Class Y

1.000 4.06% 6,468.75 0.00 6,468.75 0.00
Purchase 03/15/2023 31846V203 375.83 First American Govt Obligation Fund Class Y

1.000 4.06% 375.83 0.00 375.83 0.00
Purchase 03/15/2023 31846V203 198.75 First American Govt Obligation Fund Class Y

1.000 4.06% 198.75 0.00 198.75 0.00
Purchase 03/15/2023 31846V203 721.08 First American Govt Obligation Fund Class Y

1.000 4.06% 721.08 0.00 721.08 0.00
Purchase 03/15/2023 31846V203 405.17 First American Govt Obligation Fund Class Y

1.000 4.06% 405.17 0.00 405.17 0.00
Purchase 03/15/2023 31846V203 775.00 First American Govt Obligation Fund Class Y

1.000 4.06% 775.00 0.00 775.00 0.00
Purchase 03/15/2023 31846V203 107.67 First American Govt Obligation Fund Class Y

1.000 4.06% 107.67 0.00 107.67 0.00
Purchase 03/15/2023 31846V203 17,769.67 First American Govt Obligation Fund Class Y

1.000 4.06% 17,769.67 0.00 17,769.67 0.00
Purchase 03/16/2023 31846V203 113.33 First American Govt Obligation Fund Class Y

1.000 4.06% 113.33 0.00 113.33 0.00
Purchase 03/16/2023 31846V203 645.83 First American Govt Obligation Fund Class Y

1.000 4.06% 645.83 0.00 645.83 0.00
Purchase 03/20/2023 31846V203 119.58 First American Govt Obligation Fund Class Y

1.000 4.06% 119.58 0.00 119.58 0.00
Chandler Asset Management - CONFIDENTIAL Page 10 Execution Time: 4/3/2023 11:10:51 PM 105
Transaction Ledger
As of March 31, 2023
City of Santa Paula
Account #10939
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount InterestPur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 03/20/2023 31846V203 356.50 First American Govt Obligation Fund Class Y

1.000 4.06% 356.50 0.00 356.50 0.00
Purchase 03/21/2023 31846V203 562.50 First American Govt Obligation Fund Class Y

1.000 4.06% 562.50 0.00 562.50 0.00
Purchase 03/24/2023 3133EPCF0 625,000.00 Federal Farm Credit Bank Note

4.5% Due 3/2/2026
101.445 3.97% 634,031.25 1,718.75 635,750.00 0.00
Purchase 03/27/2023 31846V203 229.33 First American Govt Obligation Fund Class Y

1.000 4.06% 229.33 0.00 229.33 0.00
Purchase 03/27/2023 31846V203 845.50 First American Govt Obligation Fund Class Y

1.000 4.06% 845.50 0.00 845.50 0.00
Purchase 03/27/2023 31846V203 1,047.53 First American Govt Obligation Fund Class Y

1.000 4.06% 1,047.53 0.00 1,047.53 0.00
Purchase 03/27/2023 31846V203 1,100.00 First American Govt Obligation Fund Class Y

1.000 4.06% 1,100.00 0.00 1,100.00 0.00
Purchase 03/27/2023 31846V203 892.13 First American Govt Obligation Fund Class Y

1.000 4.06% 892.13 0.00 892.13 0.00
Purchase 03/27/2023 31846V203 1,039.00 First American Govt Obligation Fund Class Y

1.000 4.06% 1,039.00 0.00 1,039.00 0.00
Purchase 03/27/2023 31846V203 1,387.13 First American Govt Obligation Fund Class Y

1.000 4.06% 1,387.13 0.00 1,387.13 0.00
Purchase 03/27/2023 31846V203 25,767.78 First American Govt Obligation Fund Class Y

1.000 4.06% 25,767.78 0.00 25,767.78 0.00
Purchase 03/31/2023 31846V203 2,587.50 First American Govt Obligation Fund Class Y

1.000 4.32% 2,587.50 0.00 2,587.50 0.00
Subtotal 1,273,137.63 1,282,168.88 1,718.75 1,283,887.63 0.00 TOTAL ACQUISITIONS 1,273,137.63 1,282,168.88 1,718.75 1,283,887.63 0.00 Chandler Asset Management - CONFIDENTIAL Page 11 Execution Time: 4/3/2023 11:10:51 PM 106
Transaction Ledger
As of March 31, 2023
City of Santa Paula
Account #10939
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount InterestPur/Sold Total Amount Gain/Loss

DISPOSITIONS
Sale 03/24/2023 31846V203 635,750.00 First American Govt Obligation Fund Class Y

1.000 4.06% 635,750.00 0.00 635,750.00 0.00
Subtotal 635,750.00 635,750.00 0.00 635,750.00 0.00
Call 03/05/2023 06051GHF9 550,000.00 Bank of America Corp Callable Note 1X 3/5/2023Due 3/5/2024
100.000 5.12% 550,000.00 0.00 550,000.00 806.51
Subtotal 550,000.00 550,000.00 0.00 550,000.00 806.51
Paydown 03/15/2023 02582JJR2 0.00 American Express 2021-1 A

0.9% Due 11/15/2026
100.000 0.00 198.75 198.75 0.00
Paydown 03/15/2023 05522RDC9 0.00 Bank of America Credit Card Tr 2020-A1 A1

0.34% Due 5/15/2026
100.000 0.00 107.67 107.67 0.00
Paydown 03/15/2023 44918MAD2 0.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026
100.000 0.00 775.00 775.00 0.00
Paydown 03/15/2023 47800AAC4 0.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027
100.000 0.00 405.17 405.17 0.00
Paydown 03/15/2023 47800BAC2 0.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027
100.000 0.00 721.08 721.08 0.00
Paydown 03/15/2023 58770AAC7 0.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027
100.000 0.00 375.83 375.83 0.00
Paydown 03/15/2023 89240BAC2 17,721.20 Toyota Auto Receivables Owners 2021- A A3

0.26% Due 5/15/2025
100.000 17,721.20 48.47 17,769.67 0.00
Paydown 03/16/2023 362554AC1 0.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026
100.000 0.00 113.33 113.33 0.00
Paydown 03/16/2023 362585AC5 0.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027
100.000 0.00 645.83 645.83 0.00
Paydown 03/20/2023 43815EAC8 0.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
100.000 0.00 119.58 119.58 0.00
Chandler Asset Management - CONFIDENTIAL Page 12 Execution Time: 4/3/2023 11:10:51 PM 107
Transaction Ledger
As of March 31, 2023
City of Santa Paula
Account #10939
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount InterestPur/Sold Total Amount Gain/Loss

DISPOSITIONS
Paydown 03/20/2023 92348KAV5 0.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027
100.000 0.00 356.50 356.50 0.00
Paydown 03/27/2023 05593AAC3 0.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025
100.000 0.00 229.33 229.33 0.00
Paydown 03/27/2023 3137BFXT3 0.00 FHLMC K042 A2

2.67% Due 12/25/2024
100.000 0.00 845.50 845.50 0.00
Paydown 03/27/2023 3137BHCY1 651.77 FHLMC K044 A2

2.811% Due 1/25/2025
100.000 651.77 735.36 1,387.13 0.00
Paydown 03/27/2023 3137BM7C4 0.00 FHLMC K051 A2

3.308% Due 9/25/2025
100.000 0.00 1,047.53 1,047.53 0.00
Paydown 03/27/2023 3137BNGT5 0.00 FHLMC K054 A2

2.745% Due 1/25/2026
100.000 0.00 892.13 892.13 0.00
Paydown 03/27/2023 3137BTAC5 0.00 FHLMC K060 A2

3.3% Due 10/25/2026
100.000 0.00 1,100.00 1,100.00 0.00
Paydown 03/27/2023 3137BTU25 24,871.97 FHLMC K724 A2Due 11/25/2023 100.000 24,871.97 895.81 25,767.78 0.00 Paydown 03/27/2023 3137F2LJ3 0.00 FHLMC K066 A2

3.117% Due 6/25/2027
100.000 0.00 1,039.00 1,039.00 0.00
Subtotal 43,244.94 43,244.94 10,651.87 53,896.81 0.00
Security
Withdrawal
03/27/2023 31846V203 238.47 First American Govt Obligation Fund Class Y

1.000 238.47 0.00 238.47 0.00
Subtotal 238.47 238.47 0.00 238.47 0.00
TOTAL DISPOSITIONS 1,229,233.41 1,229,233.41 10,651.87 1,239,885.28 806.51

OTHER TRANSACTIONS
Interest 03/05/2023 06051GHF9 550,000.00 Bank of America Corp Callable Note 1X 3/5/2023Due 3/5/2024

0.000 9,762.50 0.00 9,762.50 0.00
Interest 03/08/2023 3130A0XE5 365,000.00 FHLB Note

3.25% Due 3/8/2024

0.000 5,931.25 0.00 5,931.25 0.00
Interest 03/08/2023 313383YJ4 550,000.00 FHLB Note

3.375% Due 9/8/2023

0.000 9,281.25 0.00 9,281.25 0.00
Chandler Asset Management - CONFIDENTIAL Page 13 Execution Time: 4/3/2023 11:10:51 PM 108
Transaction Ledger
As of March 31, 2023
City of Santa Paula
Account #10939
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount InterestPur/Sold Total Amount Gain/Loss

OTHER TRANSACTIONS
Interest 03/09/2023 931142EW9 480,000.00 Wal-Mart Stores Note

3.9% Due 9/9/2025

0.000 9,360.00 0.00 9,360.00 0.00
Interest 03/15/2023 91282CCX7 650,000.00 US Treasury Note

0.375% Due 9/15/2024

0.000 1,218.75 0.00 1,218.75 0.00
Interest 03/15/2023 91282CED9 600,000.00 US Treasury Note

1.75% Due 3/15/2025

0.000 5,250.00 0.00 5,250.00 0.00
Interest 03/21/2023 3133EMAM4 450,000.00 FFCB Callable Note Cont 9/21/2022

0.25% Due 9/21/2023

0.000 562.50 0.00 562.50 0.00
Interest 03/31/2023 91282CEG2 230,000.00 US Treasury Note

2.25% Due 3/31/2024

0.000 2,587.50 0.00 2,587.50 0.00
Subtotal 3,875,000.00 43,953.75 0.00 43,953.75 0.00
Dividend 03/01/2023 31846V203 48,814.94 First American Govt Obligation Fund Class Y

0.000 287.07 0.00 287.07 0.00
Subtotal 48,814.94 287.07 0.00 287.07 0.00
TOTAL OTHER TRANSACTIONS 3,923,814.94 44,240.82 0.00 44,240.82 0.00 Chandler Asset Management - CONFIDENTIAL Page 14 Execution Time: 4/3/2023 11:10:51 PM 109
Income Earned
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income

FIXED INCOME
023135CE4 Amazon.com Inc
Note
3% Due 04/13/2025
Various
Various
550,000.00
548,666.46

0.00 0.00
548,719.87
6,325.00

0.00 7,700.00
1,375.00

55.53 2.12

53.41 1,428.41
1,428.41
02582JJR2 American Express
2021-1 A

0.9% Due 11/15/2026
06/28/2022
06/29/2022
265,000.00
253,324.75

0.00 0.00
253,903.84
106.00
198.75
106.00
198.75
579.09

0.00 579.09
777.84
777.84
037833CU2 Apple Inc
Callable Note Cont 3/11/2024

2.85% Due 05/11/2024
Various
Various
550,000.00
547,537.68

0.00 0.00
547,712.36
4,789.59

0.00 6,095.83
1,306.24
174.68

0.00 174.68
1,480.92
1,480.92
05522RDC9 Bank of America Credit Card Tr
2020-A1 A1

0.34% Due 05/15/2026
06/15/2022
06/17/2022
380,000.00
370,343.92

0.00 0.00
371,379.70

57.42 107.67

57.42 107.67
1,035.78

0.00 1,035.78
1,143.45
1,143.45
05593AAC3 BMW Vehicle Lease Trust
2023-1 A3

5.16% Due 11/25/2025
02/07/2023
02/15/2023
40,000.00
39,999.07

0.00 0.00
39,999.11

91.73 229.33

34.40 172.00

0.04 0.00

0.04 172.04
172.04
06051GHF9 Bank of America Corp
Callable Note 1X 3/5/2023
Due 03/05/2024
06/28/2022
06/30/2022

0.00 549,184.67

0.00 549,193.49

0.00 9,545.56
9,762.50

0.00 216.94

8.82 0.00

8.82 225.76
225.76
06367WB85 Bank of Montreal
Note

1.85% Due 05/01/2025
06/27/2022
06/29/2022
575,000.00
549,797.10

0.00 0.00
550,783.58
3,545.83

0.00 4,432.29
886.46
986.48

0.00 986.48
1,872.94
1,872.94
06406RBF3 Bank of NY Mellon Corp
Callable Note Cont 6/13/2024

3.43% Due 06/13/2025
Various
Various
550,000.00
548,905.76

0.00 0.00
548,946.38
4,087.42

0.00 5,659.50
1,572.08

40.62 0.00

40.62 1,612.70
1,612.70
194162AM5 Colgate Palmolive Co.

Note

3.1% Due 08/15/2025
08/01/2022
08/09/2022
160,000.00
159,880.05

0.00 0.00
159,884.19
220.44

0.00 633.78
413.34

4.14 0.00

4.14 417.48
417.48
Chandler Asset Management - CONFIDENTIAL Page 15 Execution Time: 4/3/2023 11:10:51 PM 110
Income Earned
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
26442UAA2 Duke Energy Progress LLC
Callable Note Cont 5/15/25

3.25% Due 08/15/2025
06/27/2022
06/29/2022
550,000.00
544,594.72

0.00 0.00
544,781.31
794.44

0.00 2,284.03
1,489.59
186.59

0.00 186.59
1,676.18
1,676.18
3130A0F70 FHLB
Note

3.375% Due 12/08/2023
06/27/2022
06/28/2022
450,000.00
450,918.10

0.00 0.00
450,817.18
3,501.56

0.00 4,767.19
1,265.63

0.00 100.92
(100.92)
1,164.71
1,164.71
3130A0XE5 FHLB
Note

3.25% Due 03/08/2024
06/13/2022
06/14/2022
365,000.00
365,051.62

0.00 0.00
365,047.33
5,700.59
5,931.25
757.88
988.54

0.00 4.29
(4.29)
984.25
984.25
3130APU29 FHLB
Note

0.5% Due 11/09/2023
06/28/2022
06/29/2022
500,000.00
491,378.69

0.00 0.00
492,435.06
777.78

0.00 986.11
208.33
1,056.37

0.00 1,056.37
1,264.70
1,264.70
3130AQF40 FHLB
Note
1% Due 12/20/2024
07/27/2022
07/28/2022
400,000.00
385,154.52

0.00 0.00
385,851.81
788.89

0.00 1,122.22
333.33
697.29

0.00 697.29
1,030.62
1,030.62
3130ASDS5 FHLB
Note

2.75% Due 06/28/2024
06/09/2022
06/10/2022
365,000.00
364,451.67

0.00 0.00
364,486.72
1,756.56

0.00 2,593.02
836.46

35.05 0.00

35.05 871.51
871.51
3130ASME6 FHLB
Note
3% Due 07/08/2024
07/07/2022
07/08/2022
500,000.00
499,343.16

0.00 0.00
499,384.30
2,208.33

0.00 3,458.33
1,250.00

41.14 0.00

41.14 1,291.14
1,291.14
3133834G3 FHLB
Note

2.125% Due 06/09/2023
08/11/2022
08/12/2022
70,000.00
69,790.23

0.00 0.00
69,855.26
338.82

0.00 462.78
123.96

65.03 0.00

65.03 188.99
188.99
313383YJ4 FHLB
Note

3.375% Due 09/08/2023
06/27/2022
06/28/2022
550,000.00
551,069.73

0.00 0.00
550,896.11
8,920.31
9,281.25
1,185.94
1,546.88

0.00 173.62
(173.62)
1,373.26
1,373.26
Chandler Asset Management - CONFIDENTIAL Page 16 Execution Time: 4/3/2023 11:10:51 PM111 Income Earned
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3133EMAM4 FFCB
Callable Note Cont 9/21/2022

0.25% Due 09/21/2023
07/21/2022
07/22/2022
450,000.00
442,649.54

0.00 0.00
443,766.52
500.00
562.50

31.25 93.75
1,116.98

0.00 1,116.98
1,210.73
1,210.73
3133ENG20 FFCB
Note

3.3% Due 08/15/2024
08/16/2022
08/17/2022
500,000.00
500,021.93

0.00 0.00
500,020.66
733.33

0.00 2,108.33
1,375.00

0.00 1.27
(1.27)
1,373.73
1,373.73
3133ENYX2 FFCB
Note

3.25% Due 06/17/2024
06/15/2022
06/17/2022
375,000.00
374,316.72

0.00 0.00
374,361.41
2,505.21

0.00 3,520.83
1,015.62

44.69 0.00

44.69 1,060.31
1,060.31
3133EPBJ3 Federal Farm Credit Bank
Note

4.375% Due 02/23/2026
02/21/2023
02/23/2023
625,000.00
622,793.40

0.00 0.00
622,856.15
607.64

0.00 2,886.28
2,278.64

62.75 0.00

62.75 2,341.39
2,341.39
3133EPBM6 Federal Farm Credit Bank
Note

4.125% Due 08/23/2027
02/21/2023
02/23/2023
625,000.00
621,624.88

0.00 0.00
621,688.83
572.92

0.00 2,721.35
2,148.43

63.95 0.00

63.95 2,212.38
2,212.38
3133EPCF0 Federal Farm Credit Bank
Note

4.5% Due 03/02/2026
03/23/2023
03/24/2023
625,000.00

0.00 634,031.25

0.00 633,963.98

0.00 (1,718.75)
2,265.63
546.88

0.00 67.27
(67.27)
479.61
479.61
3135G05X7 FNMA
Note

0.375% Due 08/25/2025
06/22/2022
06/23/2022
400,000.00
372,893.18

0.00 0.00
373,818.64

25.00 0.00
150.00
125.00
925.46

0.00 925.46
1,050.46
1,050.46
3135G0X24 FNMA
Note

1.625% Due 01/07/2025
06/21/2022
06/22/2022
450,000.00
436,391.88

0.00 0.00
437,014.08
1,096.88

0.00 1,706.25
609.37
622.20

0.00 622.20
1,231.57
1,231.57
3137BFXT3 FHLMC
K042 A2

2.67% Due 12/25/2024
06/22/2022
06/27/2022
380,000.00
374,556.83

0.00 0.00
374,820.07
169.10
845.50
169.10
845.50
263.24

0.00 263.24
1,108.74
1,108.74
Chandler Asset Management - CONFIDENTIAL Page 17 Execution Time: 4/3/2023 11:10:51 PM112 Income Earned
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3137BHCY1 FHLMC
K044 A2

2.811% Due 01/25/2025
06/16/2022
06/22/2022
313,268.31
308,676.20

0.00 651.77
308,276.72
735.36
735.36
733.83
733.83
252.29

0.00 252.29
986.12
986.12
3137BM7C4 FHLMC
K051 A2

3.308% Due 09/25/2025
06/23/2022
06/28/2022
380,000.00
379,368.28

0.00 0.00
379,389.68
1,047.53
1,047.53
1,047.53
1,047.53

21.40 0.00

21.40 1,068.93
1,068.93
3137BNGT5 FHLMC
K054 A2

2.745% Due 01/25/2026
12/14/2022
12/19/2022
390,000.00
374,444.12

0.00 0.00
374,909.15
892.13
892.13
892.13
892.13
465.03

0.00 465.03
1,357.16
1,357.16
3137BTAC5 FHLMC
K060 A2

3.3% Due 10/25/2026
07/28/2022
07/29/2022
400,000.00
402,093.85

0.00 0.00
402,044.30
1,100.00
1,100.00
1,100.00
1,100.00

0.00 49.55
(49.55)
1,050.45
1,050.45
3137BTU25 FHLMC
K724 A2

3.062% Due 11/25/2023
06/13/2022
06/16/2022
326,195.03
350,206.01

0.00 24,871.97
325,487.23
895.81
895.81
832.34
832.34
153.19

0.00 153.19
985.53
985.53
3137EAEV7 FHLMC
Note

0.25% Due 08/24/2023
06/28/2022
06/29/2022
550,000.00
542,888.30

0.00 0.00
544,140.93

26.74 0.00
141.32
114.58
1,252.63

0.00 1,252.63
1,367.21
1,367.21
3137F2LJ3 FHLMC
K066 A2

3.117% Due 06/25/2027
10/18/2022
10/21/2022
400,000.00
376,656.58

0.00 0.00
377,122.55
1,039.00
1,039.00
1,039.00
1,039.00
465.97

0.00 465.97
1,504.97
1,504.97
362554AC1 GM Financial Securitized Term
2021-4 A3

0.68% Due 09/16/2026
06/13/2022
06/15/2022
200,000.00
192,942.46

0.00 0.00
193,235.74

56.67 113.33

56.67 113.33
293.28

0.00 293.28
406.61
406.61
362585AC5 GM Financial Securitized ART
2022-2 A3

3.1% Due 02/16/2027
10/24/2022
10/26/2022
250,000.00
242,569.25

0.00 0.00
242,816.94
322.92
645.83
322.92
645.83
247.69

0.00 247.69
893.52
893.52
Chandler Asset Management - CONFIDENTIAL Page 18 Execution Time: 4/3/2023 11:10:51 PM 113
Income Earned
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
43815EAC8 Honda Auto Receivables
2021-3 A3

0.41% Due 11/18/2025
07/27/2022
07/29/2022
350,000.00
338,939.11

0.00 0.00
339,485.11

51.82 119.58

51.82 119.58
546.00

0.00 546.00
665.58
665.58
44918MAD2 Hyundai Auto Receivables
2022-B A3

3.72% Due 11/16/2026
08/03/2022
08/05/2022
250,000.00
250,475.75

0.00 0.00
250,459.32
413.33
775.00
413.33
775.00

0.00 16.43
(16.43)
758.57
758.57
4581X0EE4 Inter-American Dev Bank
Note

3.25% Due 07/01/2024
Various
07/01/2022
550,000.00
549,958.27

0.00 0.00
549,960.92
2,979.17

0.00 4,468.75
1,489.58

2.65 0.00

2.65 1,492.23
1,492.23
459058EP4 Intl. Bank Recon & Development
Note

2.5% Due 07/29/2025
08/16/2022
08/18/2022
500,000.00
490,801.08

0.00 0.00
491,124.77
1,111.11

0.00 2,152.78
1,041.67
323.69

0.00 323.69
1,365.36
1,365.36
46647PDE3 JP Morgan Chase & Co
Callable Note Cont 6/14/2025

3.845% Due 06/14/2025
06/27/2022
06/29/2022
550,000.00
545,618.93

0.00 0.00
545,781.38
4,523.22

0.00 6,344.25
1,821.03
162.45

0.00 162.45
1,983.48
1,983.48
47800AAC4 John Deere Owner Trust
2022-B A3

3.74% Due 02/16/2027
07/12/2022
07/20/2022
130,000.00
129,989.72

0.00 0.00
129,990.01
216.09
405.17
216.09
405.17

0.29 0.00

0.29 405.46
405.46
47800BAC2 John Deere Owner Trust
2022-C A3

5.09% Due 06/15/2027
10/12/2022
10/19/2022
170,000.00
169,988.12

0.00 0.00
169,988.43
384.58
721.08
384.58
721.08

0.31 0.00

0.31 721.39
721.39
58770AAC7 Mercedes-Benz Auto Receivable
2023-1 A3

4.51% Due 11/15/2027
01/18/2023
01/25/2023
100,000.00
99,988.33

0.00 0.00
99,988.63
200.44
375.83
200.44
375.83

0.30 0.00

0.30 376.13
376.13
594918BJ2 Microsoft
Callable Note Cont 8/3/2025

3.125% Due 11/03/2025
01/20/2023
01/24/2023
625,000.00
606,951.85

0.00 0.00
607,523.93
6,401.91

0.00 8,029.51
1,627.60
572.08

0.00 572.08
2,199.68
2,199.68
Chandler Asset Management - CONFIDENTIAL Page 19 Execution Time: 4/3/2023 11:10:51 PM114 Income Earned
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
89240BAC2 Toyota Auto Receivables Owners
2021-A A3

0.26% Due 05/15/2025
06/07/2022
06/09/2022
205,983.87
220,981.65

0.00 17,721.20
203,680.77

25.85 48.47

23.80 46.42
420.32

0.00 420.32
466.74
466.74
9128285Z9 US Treasury
Note

2.5% Due 01/31/2024
07/18/2022
07/19/2022
600,000.00
596,280.08

0.00 0.00
596,623.29
1,201.66

0.00 2,486.19
1,284.53
343.21

0.00 343.21
1,627.74
1,627.74
912828B66 US Treasury
Note

2.75% Due 02/15/2024
06/28/2022
06/29/2022
600,000.00
598,122.80

0.00 0.00
598,288.59
638.12

0.00 2,051.10
1,412.98
165.79

0.00 165.79
1,578.77
1,578.77
912828G38 US Treasury
Note

2.25% Due 11/15/2024
06/29/2022
06/30/2022
625,000.00
615,693.72

0.00 0.00
616,155.31
4,117.75

0.00 5,322.00
1,204.25
461.59

0.00 461.59
1,665.84
1,665.84
912828J27 US Treasury
Note
2% Due 02/15/2025
06/27/2022
06/28/2022
600,000.00
586,336.38

0.00 0.00
586,927.13
464.09

0.00 1,491.71
1,027.62
590.75

0.00 590.75
1,618.37
1,618.37
912828U24 US Treasury
Note
2% Due 11/15/2026
10/24/2022
10/25/2022
270,000.00
247,984.89

0.00 0.00
248,488.56
1,581.22

0.00 2,043.65
462.43
503.67

0.00 503.67
966.10
966.10
912828WJ5 US Treasury
Note

2.5% Due 05/15/2024
06/28/2022
06/29/2022
600,000.00
595,600.45

0.00 0.00
595,909.71
4,392.27

0.00 5,676.80
1,284.53
309.26

0.00 309.26
1,593.79
1,593.79
912828XB1 US Treasury
Note

2.125% Due 05/15/2025
06/02/2022
06/03/2022
600,000.00
591,072.12

0.00 0.00
591,415.50
3,733.43

0.00 4,825.28
1,091.85
343.38

0.00 343.38
1,435.23
1,435.23
912828XX3 US Treasury
Note
2% Due 06/30/2024
07/25/2022
07/26/2022
500,000.00
493,483.46

0.00 0.00
493,898.27
1,657.46

0.00 2,513.81
856.35
414.81

0.00 414.81
1,271.16
1,271.16
Chandler Asset Management - CONFIDENTIAL Page 20 Execution Time: 4/3/2023 11:10:51 PM 115
Income Earned
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CAB7 US Treasury
Note

0.25% Due 07/31/2025
06/02/2022
06/03/2022
650,000.00
610,833.13

0.00 0.00
612,208.19
130.18

0.00 269.34
139.16
1,375.06

0.00 1,375.06
1,514.22
1,514.22
91282CBV2 US Treasury
Note

0.375% Due 04/15/2024
06/27/2022
06/28/2022
625,000.00
606,336.73

0.00 0.00
607,744.43
882.13

0.00 1,081.73
199.60
1,407.70

0.00 1,407.70
1,607.30
1,607.30
91282CCL3 US Treasury
Note

0.375% Due 07/15/2024
06/28/2022
06/29/2022
650,000.00
626,248.24

0.00 0.00
627,714.98
303.00

0.00 511.74
208.74
1,466.74

0.00 1,466.74
1,675.48
1,675.48
91282CCT6 US Treasury
Note

0.375% Due 08/15/2024
06/27/2022
06/28/2022
625,000.00
600,594.93

0.00 0.00
602,014.36

90.64 0.00
291.35
200.71
1,419.43

0.00 1,419.43
1,620.14
1,620.14
91282CCX7 US Treasury
Note

0.375% Due 09/15/2024
06/28/2022
06/29/2022
650,000.00
622,952.49

0.00 0.00
624,439.14
1,124.48
1,218.75
112.60
206.87
1,486.65

0.00 1,486.65
1,693.52
1,693.52
91282CDB4 US Treasury
Note

0.625% Due 10/15/2024
06/27/2022
06/28/2022
625,000.00
600,139.51

0.00 0.00
601,436.94
1,470.21

0.00 1,802.88
332.67
1,297.43

0.00 1,297.43
1,630.10
1,630.10
91282CDN8 US Treasury
Note
1% Due 12/15/2024
06/29/2022
06/30/2022
650,000.00
625,747.43

0.00 0.00
626,895.27
1,357.14

0.00 1,910.71
553.57
1,147.84

0.00 1,147.84
1,701.41
1,701.41
91282CED9 US Treasury
Note

1.75% Due 03/15/2025
06/02/2022
06/03/2022
600,000.00
587,282.39

0.00 0.00
587,811.58
4,843.92
5,250.00
485.05
891.13
529.19

0.00 529.19
1,420.32
1,420.32
91282CEG2 US Treasury
Note

2.25% Due 03/31/2024
07/18/2022
07/19/2022
230,000.00
227,685.42

0.00 0.00
227,866.61
2,160.99
2,587.50

14.14 440.65
181.19

0.00 181.19
621.84
621.84
Chandler Asset Management - CONFIDENTIAL Page 21 Execution Time: 4/3/2023 11:10:51 PM 116
Income Earned
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CEH0 US Treasury
Note

2.625% Due 04/15/2025
Various
Various
900,000.00
891,211.56

0.00 0.00
891,562.63
8,891.82

0.00 10,903.85
2,012.03
351.07

0.00 351.07
2,363.10
2,363.10
91282CFW6 US Treasury
Note

4.5% Due 11/15/2025
11/09/2022
11/15/2022
600,000.00
599,237.85

0.00 0.00
599,261.72
7,906.08

0.00 10,218.23
2,312.15

23.87 0.00

23.87 2,336.02
2,336.02
91282CGA3 US Treasury
Note
4% Due 12/15/2025
12/14/2022
12/15/2022
335,000.00
335,706.35

0.00 0.00
335,684.88
2,797.80

0.00 3,939.01
1,141.21

0.00 21.47
(21.47)
1,119.74
1,119.74
92348KAV5 Verizon Master Trust
2022-5 A1A

3.72% Due 07/20/2027
08/02/2022
08/11/2022
115,000.00
114,995.95

0.00 0.00
114,996.10
130.72
356.50
130.72
356.50

0.15 0.00

0.15 356.65
356.65
92826CAD4 Visa Inc
Callable Note Cont 9/14/2025

3.15% Due 12/14/2025
08/17/2022
08/19/2022
500,000.00
494,547.97

0.00 0.00
494,713.83
3,368.75

0.00 4,681.25
1,312.50
165.86

0.00 165.86
1,478.36
1,478.36
931142EW9 Wal-Mart Stores
Note

3.9% Due 09/09/2025
Various
Various
480,000.00
473,282.54

0.00 0.00
473,508.14
8,944.00
9,360.00
1,144.00
1,560.00
225.60

0.00 225.60
1,785.60
1,785.60
Total Fixed Income 30,520,447.21
29,949,554.51
634,031.25
592,438.43
30,018,166.12
144,377.89
52,886.87
150,253.97
58,762.95
27,455.73
436.94
27,018.79
85,781.74 85,781.74

CASH & EQUIVALENT
06417MB53 Bank of Nova Scotia Houston
Yankee CD

3.7% Due 07/31/2023
07/29/2022
07/29/2022
500,000.00
500,000.00

0.00 0.00
500,000.00
11,048.61

0.00 12,641.67
1,593.06

0.00 0.00

0.00 1,593.06
1,593.06
Chandler Asset Management - CONFIDENTIAL Page 22 Execution Time: 4/3/2023 11:10:51 PM117 Income Earned
As of March 31, 2023
City of Santa Paula
Account #10939
CUSIP Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
31846V203 First American
Govt Obligation Fund Class Y
Various
Various
60,964.10
48,814.94
648,137.63
635,988.47
60,964.10

0.00 287.07

0.00 0.00

0.00 287.07
287.07
Total Cash & Equivalent 560,964.10
548,814.94
648,137.63
635,988.47
560,964.10
11,048.61
287.07
12,641.67
1,880.13

0.00 0.00

0.00 1,880.13 1,880.13
TOTAL PORTFOLIO 31,081,411.31
30,498,369.45
1,282,168.88
1,228,426.90
30,579,130.22
155,426.50
53,173.94
162,895.64
60,643.08
27,455.73
436.94
27,018.79
87,661.87 87,661.87
Chandler Asset Management - CONFIDENTIAL Page 23 Execution Time: 4/3/2023 11:10:51 PM 118
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/13/2023 Interest 023135CE4 550,000.00 Amazon.com Inc Note 3% Due 4/13/2025

0.00 8,250.00 8,250.00
04/15/2023 Interest 91282CBV2 625,000.00 US Treasury Note

0.375% Due 4/15/2024

0.00 1,171.88 1,171.88
04/15/2023 Interest 91282CEH0 900,000.00 US Treasury Note

2.625% Due 4/15/2025

0.00 11,812.50 11,812.50
04/15/2023 Interest 91282CDB4 625,000.00 US Treasury Note

0.625% Due 10/15/2024

0.00 1,953.13 1,953.13
04/15/2023 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
04/15/2023 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,134.66 44.63 17,179.29
04/15/2023 Paydown 05522RDC9 380,000.00 Bank of America Credit Card Tr 2020-A1 A1

0.34% Due 5/15/2026

0.00 107.67 107.67
04/15/2023 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
04/15/2023 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
04/15/2023 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026

0.00 775.00 775.00
04/15/2023 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027

0.00 405.17 405.17
04/16/2023 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026

0.00 113.33 113.33
04/16/2023 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027

0.00 645.83 645.83
04/18/2023 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,466.78 119.58 17,586.36
04/19/2023 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
04/20/2023 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027

0.00 356.50 356.50
04/21/2023 Paydown 3137BM7C4 0.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
Chandler Asset Management - CONFIDENTIAL Page 24 Execution Time: 4/3/2023 11:10:51 PM 119
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/21/2023 Paydown 3137BFXT3 0.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
04/21/2023 Paydown 3137BHCY1 0.00 FHLMC K044 A2

2.811% Due 1/25/2025
651.77 735.36 1,387.13
04/21/2023 Paydown 3137BTAC5 0.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
04/21/2023 Paydown 3137F2LJ3 0.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
04/21/2023 Paydown 3137BNGT5 0.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
04/21/2023 Paydown 3137BTU25 0.00 FHLMC K724 A2

3.062% Due 11/25/2023
24,871.97 895.81 25,767.78
04/25/2023 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
13,761.17 733.83 14,495.00
04/25/2023 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
04/25/2023 Paydown 3137BTU25 326,195.03 FHLMC K724 A2

3.062% Due 11/25/2023
42,742.50 832.34 43,574.84
04/25/2023 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
04/25/2023 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
04/25/2023 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
04/25/2023 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
APR 2023 116,628.85 40,268.54 156,897.39
05/01/2023 Interest 06367WB85 575,000.00 Bank of Montreal Note

1.85% Due 5/1/2025

0.00 5,318.75 5,318.75
05/03/2023 Interest 594918BJ2 625,000.00 Microsoft Callable Note Cont 8/3/2025

3.125% Due 11/3/2025

0.00 9,765.63 9,765.63
05/09/2023 Interest 3130APU29 500,000.00 FHLB Note

0.5% Due 11/9/2023

0.00 1,250.00 1,250.00
Chandler Asset Management - CONFIDENTIAL Page 25 Execution Time: 4/3/2023 11:10:51 PM 120
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/11/2023 Interest 037833CU2 550,000.00 Apple Inc Callable Note Cont 3/11/2024

2.85% Due 5/11/2024

0.00 7,837.50 7,837.50
05/15/2023 Interest 912828U24 270,000.00 US Treasury Note 2% Due 11/15/2026

0.00 2,700.00 2,700.00
05/15/2023 Interest 912828WJ5 600,000.00 US Treasury Note

2.5% Due 5/15/2024

0.00 7,500.00 7,500.00
05/15/2023 Interest 912828XB1 600,000.00 US Treasury Note

2.125% Due 5/15/2025

0.00 6,375.00 6,375.00
05/15/2023 Interest 91282CFW6 600,000.00 US Treasury Note

4.5% Due 11/15/2025

0.00 13,500.00 13,500.00
05/15/2023 Interest 912828G38 625,000.00 US Treasury Note

2.25% Due 11/15/2024

0.00 7,031.25 7,031.25
05/15/2023 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
05/15/2023 Paydown 05522RDC9 380,000.00 Bank of America Credit Card Tr 2020-A1 A1

0.34% Due 5/15/2026

0.00 107.67 107.67
05/15/2023 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026

0.00 775.00 775.00
05/15/2023 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027

0.00 405.17 405.17
05/15/2023 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
05/15/2023 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
05/15/2023 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,140.23 40.92 17,181.15
05/16/2023 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027

0.00 645.83 645.83
05/16/2023 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026

0.00 113.33 113.33
05/18/2023 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,470.26 113.62 17,583.88
05/19/2023 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
Chandler Asset Management - CONFIDENTIAL Page 26 Execution Time: 4/3/2023 11:10:51 PM121 Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/20/2023 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027

0.00 356.50 356.50
05/25/2023 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
13,805.74 701.60 14,507.34
05/25/2023 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
05/25/2023 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
05/25/2023 Paydown 3137BTU25 326,195.03 FHLMC K724 A2

3.062% Due 11/25/2023
42,168.41 723.28 42,891.69
05/25/2023 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
05/25/2023 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
05/25/2023 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
MAY 2023 90,584.64 71,652.87 162,237.51
06/08/2023 Interest 3130A0F70 450,000.00 FHLB Note

3.375% Due 12/8/2023

0.00 7,593.75 7,593.75
06/09/2023 Maturity 3133834G3 70,000.00 FHLB Note

2.125% Due 6/9/2023
70,000.00 743.75 70,743.75
06/13/2023 Interest 06406RBF3 550,000.00 Bank of NY Mellon Corp Callable Note Cont 6/13/2024

3.43% Due 6/13/2025

0.00 9,432.50 9,432.50
06/14/2023 Interest 92826CAD4 500,000.00 Visa Inc Callable Note Cont 9/14/2025

3.15% Due 12/14/2025

0.00 7,875.00 7,875.00
06/14/2023 Interest 46647PDE3 550,000.00 JP Morgan Chase & Co Callable Note Cont 6/14/2025

3.845% Due 6/14/2025

0.00 10,691.24 10,691.24
06/15/2023 Interest 91282CGA3 335,000.00 US Treasury Note 4% Due 12/15/2025

0.00 6,700.00 6,700.00
06/15/2023 Interest 91282CDN8 650,000.00 US Treasury Note 1% Due 12/15/2024

0.00 3,250.00 3,250.00
06/15/2023 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026

0.00 775.00 775.00
Chandler Asset Management - CONFIDENTIAL Page 27 Execution Time: 4/3/2023 11:10:51 PM122 Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/15/2023 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
06/15/2023 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,145.80 37.20 17,183.00
06/15/2023 Paydown 05522RDC9 380,000.00 Bank of America Credit Card Tr 2020-A1 A1

0.34% Due 5/15/2026

0.00 107.67 107.67
06/15/2023 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
06/15/2023 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
06/15/2023 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027

0.00 405.17 405.17
06/16/2023 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026

0.00 113.33 113.33
06/16/2023 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027

0.00 645.83 645.83
06/17/2023 Interest 3133ENYX2 375,000.00 FFCB Note

3.25% Due 6/17/2024

0.00 6,093.75 6,093.75
06/18/2023 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,473.76 107.65 17,581.41
06/19/2023 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
06/20/2023 Interest 3130AQF40 400,000.00 FHLB Note
1% Due 12/20/2024

0.00 2,000.00 2,000.00
06/20/2023 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027

0.00 356.50 356.50
06/25/2023 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
06/25/2023 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
13,850.46 669.26 14,519.72
06/25/2023 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
06/25/2023 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
Chandler Asset Management - CONFIDENTIAL Page 28 Execution Time: 4/3/2023 11:10:51 PM 123
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/25/2023 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
06/25/2023 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
06/25/2023 Paydown 3137BTU25 326,195.03 FHLMC K724 A2

3.062% Due 11/25/2023
41,600.28 615.68 42,215.96
06/28/2023 Interest 3130ASDS5 365,000.00 FHLB Note

2.75% Due 6/28/2024

0.00 5,018.75 5,018.75
06/30/2023 Interest 912828XX3 500,000.00 US Treasury Note 2% Due 6/30/2024

0.00 5,000.00 5,000.00
JUN 2023 160,070.30 74,623.85 234,694.15
07/01/2023 Interest 4581X0EE4 550,000.00 Inter-American Dev Bank Note

3.25% Due 7/1/2024

0.00 8,937.50 8,937.50
07/07/2023 Interest 3135G0X24 450,000.00 FNMA Note

1.625% Due 1/7/2025

0.00 3,656.25 3,656.25
07/08/2023 Interest 3130ASME6 500,000.00 FHLB Note
3% Due 7/8/2024

0.00 7,500.00 7,500.00
07/15/2023 Interest 91282CCL3 650,000.00 US Treasury Note

0.375% Due 7/15/2024

0.00 1,218.75 1,218.75
07/15/2023 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
07/15/2023 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,151.37 33.49 17,184.86
07/15/2023 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
07/15/2023 Paydown 05522RDC9 380,000.00 Bank of America Credit Card Tr 2020-A1 A1

0.34% Due 5/15/2026

0.00 107.67 107.67
07/15/2023 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027

0.00 405.17 405.17
07/15/2023 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
07/15/2023 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026

0.00 775.00 775.00
Chandler Asset Management - CONFIDENTIAL Page 29 Execution Time: 4/3/2023 11:10:51 PM124 Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/16/2023 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026
9,501.61 113.33 9,614.94
07/16/2023 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027

0.00 645.83 645.83
07/18/2023 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,477.25 101.68 17,578.93
07/19/2023 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
07/20/2023 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027

0.00 356.50 356.50
07/25/2023 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
07/25/2023 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
07/25/2023 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
07/25/2023 Paydown 3137BTU25 326,195.03 FHLMC K724 A2

3.062% Due 11/25/2023
41,038.04 509.53 41,547.57
07/25/2023 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
13,895.33 636.81 14,532.14
07/25/2023 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
07/25/2023 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
07/29/2023 Interest 459058EP4 500,000.00 Intl. Bank Recon & Development Note

2.5% Due 7/29/2025

0.00 6,250.00 6,250.00
07/31/2023 Interest 9128285Z9 600,000.00 US Treasury Note

2.5% Due 1/31/2024

0.00 7,500.00 7,500.00
07/31/2023 Interest 91282CAB7 650,000.00 US Treasury Note

0.25% Due 7/31/2025

0.00 812.50 812.50
07/31/2023 Maturity 06417MB53 500,000.00 Bank of Nova Scotia Houston Yankee CD

3.7% Due 7/31/2023
500,000.00 18,859.72 518,859.72
JUL 2023 599,063.60 64,811.55 663,875.15
Chandler Asset Management - CONFIDENTIAL Page 30 Execution Time: 4/3/2023 11:10:51 PM 125
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/15/2023 Interest 3133ENG20 500,000.00 FFCB Note

3.3% Due 8/15/2024

0.00 8,250.00 8,250.00
08/15/2023 Interest 912828B66 600,000.00 US Treasury Note

2.75% Due 2/15/2024

0.00 8,250.00 8,250.00
08/15/2023 Interest 194162AM5 160,000.00 Colgate Palmolive Co. Note

3.1% Due 8/15/2025

0.00 2,480.00 2,480.00
08/15/2023 Interest 912828J27 600,000.00 US Treasury Note 2% Due 2/15/2025

0.00 6,000.00 6,000.00
08/15/2023 Interest 91282CCT6 625,000.00 US Treasury Note

0.375% Due 8/15/2024

0.00 1,171.88 1,171.88
08/15/2023 Interest 26442UAA2 550,000.00 Duke Energy Progress LLC Callable Note Cont 5/15/25

3.25% Due 8/15/2025

0.00 8,937.50 8,937.50
08/15/2023 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026

0.00 775.00 775.00
08/15/2023 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027

0.00 405.17 405.17
08/15/2023 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
08/15/2023 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
08/15/2023 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,156.95 29.77 17,186.72
08/15/2023 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
08/15/2023 Paydown 05522RDC9 380,000.00 Bank of America Credit Card Tr 2020-A1 A1

0.34% Due 5/15/2026

0.00 107.67 107.67
08/16/2023 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027

0.00 645.83 645.83
08/16/2023 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026
9,503.82 107.95 9,611.77
08/18/2023 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,480.76 95.70 17,576.46
Chandler Asset Management - CONFIDENTIAL Page 31 Execution Time: 4/3/2023 11:10:51 PM 126
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/19/2023 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
08/20/2023 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027

0.00 356.50 356.50
08/23/2023 Interest 3133EPBJ3 625,000.00 Federal Farm Credit Bank Note

4.375% Due 2/23/2026

0.00 13,671.88 13,671.88
08/23/2023 Interest 3133EPBM6 625,000.00 Federal Farm Credit Bank Note

4.125% Due 8/23/2027

0.00 12,890.63 12,890.63
08/24/2023 Maturity 3137EAEV7 550,000.00 FHLMC Note

0.25% Due 8/24/2023
550,000.00 687.50 550,687.50
08/25/2023 Interest 3135G05X7 400,000.00 FNMA Note

0.375% Due 8/25/2025

0.00 750.00 750.00
08/25/2023 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
08/25/2023 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
08/25/2023 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
08/25/2023 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
08/25/2023 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
13,940.34 604.26 14,544.60
08/25/2023 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
08/25/2023 Paydown 3137BTU25 326,195.03 FHLMC K724 A2

3.062% Due 11/25/2023
40,481.65 404.81 40,886.46
AUG 2023 648,563.52 73,013.87 721,577.39
09/02/2023 Interest 3133EPCF0 625,000.00 Federal Farm Credit Bank Note

4.5% Due 3/2/2026

0.00 14,062.50 14,062.50
09/08/2023 Interest 3130A0XE5 365,000.00 FHLB Note

3.25% Due 3/8/2024

0.00 5,931.25 5,931.25
09/08/2023 Maturity 313383YJ4 550,000.00 FHLB Note

3.375% Due 9/8/2023
550,000.00 9,281.25 559,281.25
Chandler Asset Management - CONFIDENTIAL Page 32 Execution Time: 4/3/2023 11:10:51 PM127 Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/09/2023 Interest 931142EW9 480,000.00 Wal-Mart Stores Note

3.9% Due 9/9/2025

0.00 9,360.00 9,360.00
09/15/2023 Interest 91282CCX7 650,000.00 US Treasury Note

0.375% Due 9/15/2024

0.00 1,218.75 1,218.75
09/15/2023 Interest 91282CED9 600,000.00 US Treasury Note

1.75% Due 3/15/2025

0.00 5,250.00 5,250.00
09/15/2023 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
09/15/2023 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,162.52 26.06 17,188.58
09/15/2023 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
09/15/2023 Paydown 05522RDC9 380,000.00 Bank of America Credit Card Tr 2020-A1 A1

0.34% Due 5/15/2026

0.00 107.67 107.67
09/15/2023 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026

0.00 775.00 775.00
09/15/2023 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027

0.00 405.17 405.17
09/15/2023 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
09/16/2023 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026
9,506.04 102.56 9,608.60
09/16/2023 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027

0.00 645.83 645.83
09/18/2023 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,484.25 89.73 17,573.98
09/19/2023 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
09/20/2023 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027

0.00 356.50 356.50
09/21/2023 Maturity 3133EMAM4 450,000.00 FFCB Callable Note Cont 9/21/2022

0.25% Due 9/21/2023
450,000.00 562.50 450,562.50
09/25/2023 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
Chandler Asset Management - CONFIDENTIAL Page 33 Execution Time: 4/3/2023 11:10:51 PM 128
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/25/2023 Paydown 3137BTU25 326,195.03 FHLMC K724 A2

3.062% Due 11/25/2023
39,931.03 301.52 40,232.55
09/25/2023 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
13,985.49 571.61 14,557.10
09/25/2023 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
09/25/2023 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
09/25/2023 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
09/25/2023 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
09/30/2023 Interest 91282CEG2 230,000.00 US Treasury Note

2.25% Due 3/31/2024

0.00 2,587.50 2,587.50
SEP 2023 1,098,069.33 58,027.22 1,156,096.55
10/13/2023 Interest 023135CE4 550,000.00 Amazon.com Inc Note 3% Due 4/13/2025

0.00 8,250.00 8,250.00
10/15/2023 Interest 91282CDB4 625,000.00 US Treasury Note

0.625% Due 10/15/2024

0.00 1,953.13 1,953.13
10/15/2023 Interest 91282CBV2 625,000.00 US Treasury Note

0.375% Due 4/15/2024

0.00 1,171.88 1,171.88
10/15/2023 Interest 91282CEH0 900,000.00 US Treasury Note

2.625% Due 4/15/2025

0.00 11,812.50 11,812.50
10/15/2023 Paydown 05522RDC9 380,000.00 Bank of America Credit Card Tr 2020-A1 A1

0.34% Due 5/15/2026

0.00 107.67 107.67
10/15/2023 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
10/15/2023 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
10/15/2023 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027

0.00 405.17 405.17
10/15/2023 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026

0.00 775.00 775.00
Chandler Asset Management - CONFIDENTIAL Page 34 Execution Time: 4/3/2023 11:10:51 PM 129
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/15/2023 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
10/15/2023 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,168.10 22.34 17,190.44
10/16/2023 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026
9,508.26 97.18 9,605.44
10/16/2023 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027

0.00 645.83 645.83
10/18/2023 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,487.74 83.76 17,571.50
10/19/2023 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
10/20/2023 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027

0.00 356.50 356.50
10/25/2023 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
14,030.80 538.84 14,569.64
10/25/2023 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
10/25/2023 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
10/25/2023 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
10/25/2023 Paydown 3137BTU25 326,195.03 FHLMC K724 A2

3.062% Due 11/25/2023
39,386.16 199.62 39,585.78
10/25/2023 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
10/25/2023 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
OCT 2023 97,581.06 32,811.24 130,392.30
11/01/2023 Interest 06367WB85 575,000.00 Bank of Montreal Note

1.85% Due 5/1/2025

0.00 5,318.75 5,318.75
11/03/2023 Interest 594918BJ2 625,000.00 Microsoft Callable Note Cont 8/3/2025

3.125% Due 11/3/2025

0.00 9,765.63 9,765.63
Chandler Asset Management - CONFIDENTIAL Page 35 Execution Time: 4/3/2023 11:10:51 PM 130
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/09/2023 Maturity 3130APU29 500,000.00 FHLB Note

0.5% Due 11/9/2023
500,000.00 1,250.00 501,250.00
11/11/2023 Interest 037833CU2 550,000.00 Apple Inc Callable Note Cont 3/11/2024

2.85% Due 5/11/2024

0.00 7,837.50 7,837.50
11/15/2023 Interest 912828WJ5 600,000.00 US Treasury Note

2.5% Due 5/15/2024

0.00 7,500.00 7,500.00
11/15/2023 Interest 912828XB1 600,000.00 US Treasury Note

2.125% Due 5/15/2025

0.00 6,375.00 6,375.00
11/15/2023 Interest 912828U24 270,000.00 US Treasury Note 2% Due 11/15/2026

0.00 2,700.00 2,700.00
11/15/2023 Interest 91282CFW6 600,000.00 US Treasury Note

4.5% Due 11/15/2025

0.00 13,500.00 13,500.00
11/15/2023 Interest 912828G38 625,000.00 US Treasury Note

2.25% Due 11/15/2024

0.00 7,031.25 7,031.25
11/15/2023 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026

0.00 775.00 775.00
11/15/2023 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,173.68 18.62 17,192.30
11/15/2023 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
11/15/2023 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
11/15/2023 Paydown 05522RDC9 380,000.00 Bank of America Credit Card Tr 2020-A1 A1

0.34% Due 5/15/2026

0.00 107.67 107.67
11/15/2023 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027

0.00 405.17 405.17
11/15/2023 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
11/16/2023 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027

0.00 645.83 645.83
11/16/2023 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026
9,510.48 91.79 9,602.27
11/18/2023 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,491.24 77.78 17,569.02
Chandler Asset Management - CONFIDENTIAL Page 36 Execution Time: 4/3/2023 11:10:51 PM 131
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/19/2023 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
11/20/2023 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027

0.00 356.50 356.50
11/25/2023 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
11/25/2023 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
11/25/2023 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
11/25/2023 Paydown 3137BTU25 326,195.03 FHLMC K724 A2

3.062% Due 11/25/2023
38,846.95 99.12 38,946.07
11/25/2023 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
14,076.24 505.98 14,582.22
11/25/2023 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
11/25/2023 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
NOV 2023 597,098.59 70,753.41 667,852.00
12/08/2023 Maturity 3130A0F70 450,000.00 FHLB Note

3.375% Due 12/8/2023
450,000.00 7,593.75 457,593.75
12/13/2023 Interest 06406RBF3 550,000.00 Bank of NY Mellon Corp Callable Note Cont 6/13/2024

3.43% Due 6/13/2025

0.00 9,432.50 9,432.50
12/14/2023 Interest 92826CAD4 500,000.00 Visa Inc Callable Note Cont 9/14/2025

3.15% Due 12/14/2025

0.00 7,875.00 7,875.00
12/14/2023 Interest 46647PDE3 550,000.00 JP Morgan Chase & Co Callable Note Cont 6/14/2025

3.845% Due 6/14/2025

0.00 10,749.98 10,749.98
12/15/2023 Interest 91282CDN8 650,000.00 US Treasury Note 1% Due 12/15/2024

0.00 3,250.00 3,250.00
12/15/2023 Interest 91282CGA3 335,000.00 US Treasury Note 4% Due 12/15/2025

0.00 6,700.00 6,700.00
12/15/2023 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026

0.00 775.00 775.00
Chandler Asset Management - CONFIDENTIAL Page 37 Execution Time: 4/3/2023 11:10:51 PM 132
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/15/2023 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
12/15/2023 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027

0.00 405.17 405.17
12/15/2023 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
12/15/2023 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,179.26 14.90 17,194.16
12/15/2023 Paydown 05522RDC9 380,000.00 Bank of America Credit Card Tr 2020-A1 A1

0.34% Due 5/15/2026
380,000.00 107.67 380,107.67
12/15/2023 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
12/16/2023 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027
11,334.83 645.83 11,980.66
12/16/2023 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026
9,512.70 86.40 9,599.10
12/17/2023 Interest 3133ENYX2 375,000.00 FFCB Note

3.25% Due 6/17/2024

0.00 6,093.75 6,093.75
12/18/2023 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,494.74 71.81 17,566.55
12/19/2023 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
12/20/2023 Interest 3130AQF40 400,000.00 FHLB Note
1% Due 12/20/2024

0.00 2,000.00 2,000.00
12/20/2023 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027

0.00 356.50 356.50
12/25/2023 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
12/25/2023 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
12/25/2023 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
12/25/2023 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
Chandler Asset Management - CONFIDENTIAL Page 38 Execution Time: 4/3/2023 11:10:51 PM 133
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/25/2023 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
14,121.84 473.00 14,594.84
12/25/2023 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
12/28/2023 Interest 3130ASDS5 365,000.00 FHLB Note

2.75% Due 6/28/2024

0.00 5,018.75 5,018.75
12/31/2023 Interest 912828XX3 500,000.00 US Treasury Note 2% Due 6/30/2024

0.00 5,000.00 5,000.00
DEC 2023 899,643.37 73,041.83 972,685.20
01/01/2024 Interest 4581X0EE4 550,000.00 Inter-American Dev Bank Note

3.25% Due 7/1/2024

0.00 8,937.50 8,937.50
01/07/2024 Interest 3135G0X24 450,000.00 FNMA Note

1.625% Due 1/7/2025

0.00 3,656.25 3,656.25
01/08/2024 Interest 3130ASME6 500,000.00 FHLB Note
3% Due 7/8/2024

0.00 7,500.00 7,500.00
01/15/2024 Interest 91282CCL3 650,000.00 US Treasury Note

0.375% Due 7/15/2024

0.00 1,218.75 1,218.75
01/15/2024 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
01/15/2024 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027

0.00 405.17 405.17
01/15/2024 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026

0.00 775.00 775.00
01/15/2024 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
01/15/2024 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,184.85 11.17 17,196.02
01/15/2024 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
01/16/2024 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026
9,514.92 81.01 9,595.93
01/16/2024 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027
11,337.57 616.55 11,954.12
Chandler Asset Management - CONFIDENTIAL Page 39 Execution Time: 4/3/2023 11:10:51 PM 134
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/18/2024 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,498.24 65.83 17,564.07
01/19/2024 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
01/20/2024 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027
6,598.50 356.50 6,955.00
01/25/2024 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
01/25/2024 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
01/25/2024 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
14,167.58 439.92 14,607.50
01/25/2024 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
01/25/2024 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
01/25/2024 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
01/29/2024 Interest 459058EP4 500,000.00 Intl. Bank Recon & Development Note

2.5% Due 7/29/2025

0.00 6,250.00 6,250.00
01/31/2024 Interest 91282CAB7 650,000.00 US Treasury Note

0.25% Due 7/31/2025

0.00 812.50 812.50
01/31/2024 Maturity 9128285Z9 600,000.00 US Treasury Note

2.5% Due 1/31/2024
600,000.00 7,500.00 607,500.00
JAN 2024 676,301.66 45,017.97 721,319.63
02/15/2024 Interest 91282CCT6 625,000.00 US Treasury Note

0.375% Due 8/15/2024

0.00 1,171.88 1,171.88
02/15/2024 Interest 26442UAA2 550,000.00 Duke Energy Progress LLC Callable Note Cont 5/15/25

3.25% Due 8/15/2025

0.00 8,937.50 8,937.50
02/15/2024 Interest 194162AM5 160,000.00 Colgate Palmolive Co. Note

3.1% Due 8/15/2025

0.00 2,480.00 2,480.00
02/15/2024 Interest 3133ENG20 500,000.00 FFCB Note

3.3% Due 8/15/2024

0.00 8,250.00 8,250.00
Chandler Asset Management - CONFIDENTIAL Page 40 Execution Time: 4/3/2023 11:10:51 PM 135
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/15/2024 Interest 912828J27 600,000.00 US Treasury Note 2% Due 2/15/2025

0.00 6,000.00 6,000.00
02/15/2024 Maturity 912828B66 600,000.00 US Treasury Note

2.75% Due 2/15/2024
600,000.00 8,250.00 608,250.00
02/15/2024 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
02/15/2024 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,190.43 7.45 17,197.88
02/15/2024 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027

0.00 405.17 405.17
02/15/2024 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
02/15/2024 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
02/15/2024 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026
12,922.92 775.00 13,697.92
02/16/2024 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026
9,517.13 75.62 9,592.75
02/16/2024 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027
11,340.31 587.26 11,927.57
02/18/2024 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,501.74 59.85 17,561.59
02/19/2024 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
02/20/2024 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027
6,618.96 336.04 6,955.00
02/23/2024 Interest 3133EPBJ3 625,000.00 Federal Farm Credit Bank Note

4.375% Due 2/23/2026

0.00 13,671.88 13,671.88
02/23/2024 Interest 3133EPBM6 625,000.00 Federal Farm Credit Bank Note

4.125% Due 8/23/2027

0.00 12,890.63 12,890.63
02/25/2024 Interest 3135G05X7 400,000.00 FNMA Note

0.375% Due 8/25/2025

0.00 750.00 750.00
02/25/2024 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
14,213.47 406.74 14,620.21
Chandler Asset Management - CONFIDENTIAL Page 41 Execution Time: 4/3/2023 11:10:51 PM 136
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/25/2024 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
02/25/2024 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
02/25/2024 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
02/25/2024 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
02/25/2024 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
FEB 2024 689,304.96 71,446.84 760,751.80
03/02/2024 Interest 3133EPCF0 625,000.00 Federal Farm Credit Bank Note

4.5% Due 3/2/2026

0.00 14,062.50 14,062.50
03/08/2024 Maturity 3130A0XE5 365,000.00 FHLB Note

3.25% Due 3/8/2024
365,000.00 5,931.25 370,931.25
03/09/2024 Interest 931142EW9 480,000.00 Wal-Mart Stores Note

3.9% Due 9/9/2025

0.00 9,360.00 9,360.00
03/15/2024 Interest 91282CCX7 650,000.00 US Treasury Note

0.375% Due 9/15/2024

0.00 1,218.75 1,218.75
03/15/2024 Interest 91282CED9 600,000.00 US Treasury Note

1.75% Due 3/15/2025

0.00 5,250.00 5,250.00
03/15/2024 Paydown 58770AAC7 100,000.00 Mercedes-Benz Auto Receivable 2023-1 A3

4.51% Due 11/15/2027

0.00 375.83 375.83
03/15/2024 Paydown 89240BAC2 205,983.87 Toyota Auto Receivables Owners 2021-A A3

0.26% Due 5/15/2025
17,196.01 3.73 17,199.74
03/15/2024 Paydown 47800BAC2 170,000.00 John Deere Owner Trust 2022-C A3

5.09% Due 6/15/2027

0.00 721.08 721.08
03/15/2024 Paydown 02582JJR2 265,000.00 American Express 2021-1 A

0.9% Due 11/15/2026

0.00 198.75 198.75
03/15/2024 Paydown 44918MAD2 250,000.00 Hyundai Auto Receivables 2022-B A3

3.72% Due 11/16/2026
12,948.73 734.94 13,683.67
03/15/2024 Paydown 47800AAC4 130,000.00 John Deere Owner Trust 2022-B A3

3.74% Due 2/16/2027
5,293.27 405.17 5,698.44
Chandler Asset Management - CONFIDENTIAL Page 42 Execution Time: 4/3/2023 11:10:51 PM 137
Cash Flow Report
As of March 31, 2023
City of Santa Paula
Account #10939
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/16/2024 Paydown 362554AC1 200,000.00 GM Financial Securitized Term 2021-4 A3

0.68% Due 9/16/2026
9,519.36 70.22 9,589.58
03/16/2024 Paydown 362585AC5 250,000.00 GM Financial Securitized ART 2022-2 A3

3.1% Due 2/16/2027
11,343.04 557.97 11,901.01
03/18/2024 Paydown 43815EAC8 350,000.00 Honda Auto Receivables 2021-3 A3

0.41% Due 11/18/2025
17,505.24 53.87 17,559.11
03/19/2024 Paydown 3137BFXT3 380,000.00 FHLMC K042 A2

2.67% Due 12/25/2024

0.00 845.50 845.50
03/20/2024 Paydown 92348KAV5 115,000.00 Verizon Master Trust 2022-5 A1A

3.72% Due 7/20/2027
6,639.47 315.53 6,955.00
03/25/2024 Paydown 05593AAC3 40,000.00 BMW Vehicle Lease Trust 2023-1 A3

5.16% Due 11/25/2025

0.00 172.00 172.00
03/25/2024 Paydown 3137BNGT5 390,000.00 FHLMC K054 A2

2.745% Due 1/25/2026

0.00 892.13 892.13
03/25/2024 Paydown 3137F2LJ3 400,000.00 FHLMC K066 A2

3.117% Due 6/25/2027

0.00 1,039.00 1,039.00
03/25/2024 Paydown 3137BHCY1 313,268.31 FHLMC K044 A2

2.811% Due 1/25/2025
14,259.51 373.44 14,632.95
03/25/2024 Paydown 3137BM7C4 380,000.00 FHLMC K051 A2

3.308% Due 9/25/2025

0.00 1,047.53 1,047.53
03/25/2024 Paydown 3137BTAC5 400,000.00 FHLMC K060 A2

3.3% Due 10/25/2026

0.00 1,100.00 1,100.00
MAR 2024 459,704.63 44,729.19 504,433.82
TOTAL 6,132,614.51 720,198.38 6,852,812.89
Chandler Asset Management - CONFIDENTIAL Page 43 Execution Time: 4/3/2023 11:10:51 PM 138
Important Disclosures City of Santa Paula
Account #10939
Chandler Asset Management, Inc. ;͞Chandler͟Ϳis an SEC registered investment adviser. For additional information about our firm, please see our current disclosures (Form ADV). To obtain a copy of our current disclosures, you may contact your client service representative by calling the number on the front of this statement or you may visit our website at www.chandlerasset.com.

Information contained in this monthly statement is confidential and is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of this statement, but may become outdated or superseded at any time without notice.

Custody: Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account.

Valuation: Prices are provided by IDC, an independent pricing source. In the event IDC does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance: Performance results are presented gross-of-advisory fees and represent the client͛s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Source ice Data Indices, LLC ("ICE"), used with permission. ICE PERMITS USE OF THE ICE INDICES AND RELATED DATA ON AN "AS IS" BASIS; ICE, ITS AFFILIATES AND THEIR RESPECTIVE

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Ratings: Ratings information have been provided by Moody͛s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities ;͞MBS͟Ϳreflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P, Moody͛s and Fitch respectively.

Chandler Asset Management - CONFIDENTIAL Page 44 Execution Time: 4/3/2023 11:10:51 PM 139
Benchmark Index & Disclosures City of Santa Paula
Account #10939
Benchmark Index Disclosure
ICE BofA 1-3 Yr US Treasury & Agency
Index
The ICE BofA 1-3 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody͛s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than three years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.

Chandler Asset Management - CONFIDENTIAL Page 45 Execution Time: 4/3/2023 11:10:51 PM 140
To: Honorable Mayor and Members of the City Council
From: Greg Barnes, Parks and Recreation Director
Subject: AGREEMENT WITH SANTA PAULA UNIFIED SCHOOL DISTRICT FOR THE 2023 SUMMER CAMP PROGRAM
Date: May 17, 2023
Agenda Item: 10.D

CITY OF SANTA PAULA

MEMORANDUM
RECOMMENDATION:

Staff recommends that the City Council:

1. Approve an Agreement with the Santa Paula Unified School District for Summer Camp Program 2023.

2. Authorize a budget adjustment of $200,750 in new revenue and $200,750 in new expenditures in the General Fund.

BACKGROUND:

The Parks & Recreation Department has historically offered a summer camp program to the community for youth ages 5-14. Last summer, the department partnered with the Santa Paula Unified School District to offer all day summer programming at two locations: Glen City Elementary and Barbara Webster Elementary Schools.

The outcome of last summer's partnership resulted in all day summer programs, from 8am5pm, offered to 400 youth at no cost to participants.

Youth participated in morning classroom instruction, received lunch daily, followed by an afternoon full of recreational and enrichment opportunities. In addition, over 140 youth participated in swim lessons offered by the YMCA.

ANALYSIS:

Based on last summer's successes, the Santa Paula Unified School District is interested in partnering again this summer to offer no cost summer programs to youth in the community.

Summer programming will again be offered at two school sites: Glen City Elementary and Barbara Webster Elementary Schools. The goal is to have 400 youth in grades K-6 participate in the 5-week program (200 students at each school site).

Youth will participate in morning classroom instruction, lunch, and in the afternoon, youth will 141
have a menu of various recreational and enrichment opportunities to choose from.

Examples of the afternoon "Specialty Camps" that the Parks & Recreation Department will be offering:

Basketball Camp
Soccer Camp
Woodworking
Magic Camp
Outdoor Camp
Sports of all Sorts Camp
Taekwondo Camp
Dance Camp
Summer Programs / Camp this summer will be offered for five weeks, beginning June 19, 2023. Camp will be from 8am-5pm daily at each school site. In addition to lunch, breakfast will be served along with an afternoon snack.

Parents can register their children by contacting the Santa Paula Unified School District.

STRATEGIC PLAN:

Approval of this item continues to move us closer to completing City Council's two-year Strategic Plan, Section F, Community Vitality, Objective #13, Work with the school district to create a joint use agreement for school and city facilities.

Although, this is not a joint use agreement, it does continue to build on and foster a good relationship with the school district. Staff from both the City and the District continue to work on the framework of a joint use agreement.

FISCAL IMPACTS:

The School District will be reimbursing the City up to $200,750 for all costs related to the Summer Camp Program. Of this total, $18,250 is for administrative costs. The following journal entries are needed:

Debit Credit
PP Salaries 100-5-1502-002 $37,750
PT Retirement 100-5-1502-042 $1,510
PT Workers Comp 100-5-1502-043 $193
PT Medicare 100-5-4502-044 $547
Shop & Field 100-5-1502-123 34,000
Prof Services 100-5-1502-209 81,300
Office Supplies 100-5-1502-120 1,000
Staff Shirts 100-5-1502-121 1,200
Transportation 100-5-1502-352 25,000
Admin Costs 18,250
142
Total Expenses $200,750
PT Staff Reim 100-4-1500-5063 40,000
Support & Serv Reimb 100-4-1500-5063 160,750
Total Reimbursement $200,750
OPTIONS:

In addition to the recommended action, Council has the following options:

1. Do not approve the agreement with the Santa Paula Unified School District.

If the agreement is not approved, the Parks & Recreation Department will not be offering any Summer Camp program to the community this Summer.

ATTACHMENTS:

EXHIBIT A: SPUSD Summer Camp Agreement 2023.pdf
143

EXHIBIT A

CITY OF SANTA PAULA / SANTA PAULA UNIFIED

SCHOOL DISTRICT SUMMER CAMP

AGREEMENT
144

Page 1 of 6 ends

AGREEMENT FOR SUMMER CAMP PROGRAM SERVICES BETWEEN

THE CITY OF SANTA PAULA AND

THE SANTA PAULA UNIFIED SCHOOL DISTRICT
This AGREEMENT is entered into this 17th day of May, 2023, by and between the CITY OF SANTA PAULA, a municipal corporation and general law city ("CITY") and the SANTA PAULA UNIFIED SCHOOL DISTRICT, a public school district organized pursuant to provisions of the California Education Code ("DISTRICT"). l. RECITALS. This Agreement is entered into with reference to the following facts and objectives:

A. The CITY and DISTRICT believe it is a benefit to the community to share resources and facilities in order to better serve the youth and offer a comprehensive summer enrichment and recreation program.

B. The CITY and DISTRICT (collectively, the “Parties”) agree to collaborate by offering Enrichment, STEM and Recreation programs and activities for elementary school participants during the traditional summer school / camp months of June, July and August. The primary locations for these programs and activities will be Barbara Webster Elementary School and Glenn City Elementary School.

C. The Parties believe it is in the public interest to enter into this Agreement.

2. CITY'S RESPONSIBILITIES.

The CITY will coordiniate various specialty and sports camps immediately following the morning summer school session. The programs will take place on DISTRICT property at Barbara Webster Elementary School, Glenn City Elementary School, and Santa Paula High School.

B. CITY will ensure that during program hours they are staffed appropriately for instruction of each camp.

C. The CITY will be responsible for ordering all supplies and equipment needed for the camps they have oversight.

D. CITY will invoice the DISTRICT by the 15th day of each month for services for the previous month.
145

Page 2 of 6 ends

3. DISTRICT'S RESPONSIBILITIES.

A. The DISTRICT will provide access to Barbara Webster Elementary School, Glenn City Elementary Schools, Santa Paula High School, and any facilities necessary to provide summer programming.

B. The DISTRICT will be responsible for providing all snacks and lunch to students during the summer program.

C. DISTRICT will reimburse the CITY for the Salary and Benefits of all summer Recreation Leaders. District is responsible for the fully burdened hourly rate for each employee. See EXHIBIT A.

D. The DISTRICT is responsible for all costs associated with summer camp programming, including supplies, equipment, and transportation. See EXHIBIT A.

E. Any extra duties the DISTRICT requests of CITY staff will be at a rate of $130 for full-time staff and $45 per hour for part-time staff.

F. The CITY will invoice the DISTRICT in July, August and September 2023. The District will pay the invoice within thirty days (30) of the receipt.

G. In the event of any question or dispute on the amount, DISTRICT will notify the CITY within fifteen days of receipt of invoice, and CITY will respond within fifteen days of the receipt of the inquiry to the DISTRICT contact as in 14, below.

4. PUBLIC RECORDS ACT. The Parties acknowledge that they are public entities subject to the Public Records Act (Government Code §§ 6250-6276.48) and that this Agreement, and documents ancillary to this Agreement, must generally be disclosed upon request. However, the Parties agree that student records are specifically excluded from disclosure under Government Code §§ 6254(c), 6254(k), 6276.40 and 6276.42. Accordingly, the Parties agree that such records will not be released except as otherwise provided by law.

5. TERM. The initial term of this Agreement will be from June 1, 2023, to August 30, 2023, unless terminated earlier pursuant to Section 5 of this Agreement.

6. TERMINATION. Except as otherwise provided, the Parties may terminate this Agreement at any time with or without cause. DISTRICT will pay CITY on a prorated basis for all services rendered and all necessarily incurred costs performed in 146

Page 3 of 6 ends

good faith in accordance with the terms of this Agreement that were not previously reimbursed up to the date of termination. CITY will provide all necessary documentation of services rendered to the District including but not limited to: time sheets for City full time and part time staff, logs or service records for educational or tobacco enforcement activities, and any documents needed as verification of service.

7. OWNERSHIP OF DOCUMENTS. All documents, data, studies, and reports prepared by DISTRICT relating to this Agreement are DISTRICT’S property.

DISTRICT will provide copies of said documents and materials to the CITY as requested, but will retain all original materials.

8. INDEMNIFICATION.

A. DISTRICT shall be responsible for all damages to persons or property that occur as a result of DISTRICT or its officers, agents, employees, independent contractors, and volunteers’ fault or negligence in connection with DISTRICT’S participation in the Summer Program. Further, DISTRICT shall indemnify and save harmless the CITY, its officers, agents, employees, independent contractors, and volunteers from all claims, suits, or actions of every name, kind, description, brought for, or on account of, injuries to or death of any person or damage to property arising from or related to the fault or negligence of DISTRICT, its officers, agents, employees, independent contractors, and volunteers in connection with the Summer Program.

CITY shall indemnify and save harmless DISTRICT, its officers, agents, employees, independent contractors, and volunteers from all claims, suits, or actions of every name, kind, description, brought for, or on account of, injuries to or death of any person or damage to property arising from or related to the fault or negligence of the CITY, its officers, agents, employees, independent contractors, and volunteers in connection with the Summer Program.

B. It is expressly understood and agreed that the foregoing provisions will survive termination of this Agreement.

9. INSURANCE.

Each Party may utilize a program of self-insurance to meet the insurance requirements of this Agreement.
147

Page 4 of 6 ends

10. ASSIGNABILITY. DISTRICT's attempts to assign the benefits or burdens of this Agreement without CITY's written approval are prohibited and will be null and void.

11. AUDIT OF RECORDS. Both the CITY and DISTRICT will maintain full and accurate records with respect to all services and matters covered under this Agreement. Both will have access at all reasonable times to such records, and the right to examine and audit the same and to make transcript therefrom, and to inspect all program data, documents, proceedings and activities. Both the CITY and DISTRICT will retain such financial and program service records for at least three (3) years after termination or final payment under this Agreement.

12. NOTICES. All communications to either party by the other party will be deemed made when received by such party at its respective name and address as follows:

If to DISTRICT: If to CITY:

Superintendent City Manager
Santa Paula Unified School District City of Santa Paula 201 South Steckel Drive P.O. Box 569
Santa Paula, CA 93060 Santa Paula, CA 93061-
0569
Any such written communications by mail will be conclusively deemed to have been received by the addressee upon deposit thereof in the United States Mail, postage prepaid and properly addressed as noted above. In all other instances, notices will be deemed given at the time of actual delivery. Changes may be made in the names or addresses of persons to whom notices are to be given by giving notice in the manner prescribed in this paragraph.

13. INTERPRETATION. This Agreement was drafted in, and will be construed in accordance with the laws of the State of California, and exclusive venue for any action involving this agreement will be in Ventura County.

14. ENTIRE AGREEMENT. This Agreement sets forth the entire understanding of the parties.

There are no other understandings, terms or other agreements expressed or implied, oral or written. This Agreement will bind and inure to the benefit of the parties to this Agreement and any subsequent successors and assigns.

15. RULES OF CONSTRUCTION. Each Party had the opportunity to independently review this Agreement with legal counsel. Accordingly, this Agreement will be 148

Page 5 of 6 ends

construed simply, as a whole, and in accordance with its fair meaning; it will not be interpreted strictly for or against either Party.

16. SEVERABILITY. If any portion of this Agreement is declared by a court of competent jurisdiction to be invalid or unenforceable, then such portion will be deemed modified to the extent necessary in the opinion of the court to render such portion enforceable and, as so modified, such portion and the balance of this Agreement will continue in full force and effect.

17. AUTHORITY/MODIFICATION. The Parties represent and warrant that all necessary action has been taken by the Parties to authorize the undersigned to execute this Agreement and to engage in the actions described herein. This Agreement may be modified by written amendment. CITY's city manager, or designee, may execute any such amendment on behalf of CITY.

18. ACCEPTANCE OF FACSIMILE SIGNATURES. The Parties agree that this Agreement, agreements ancillary to this Agreement, and related documents to be entered into in connection with this Agreement will be considered signed when the signature of a party is delivered by facsimile transmission. Such facsimile signature will be treated in all respects as having the same effect as an original signature.

19. COUNTERPARTS. This Agreement may be executed in counterparts, each of which so executed WILL irrespective of the date of its execution of delivery be deemed an original, and all such counterparts together constitute one and the same instrument.

20. CITY COUNCIL APPROVAL. This Agreement is subject to and conditioned upon approval and ratification by the Santa Paula City Council. This Agreement is not binding upon the City until executed by the appropriate City official(s) acting in their authorized capacity.

21. SCHOOL DISTRICT GOVERNING BOARD APPROVAL. This Agreement is subject to and conditioned upon approval and ratification by the Governing Board of Trustees of the Santa Paula Unified School District. This Agreement is not binding upon the DISTRICT until executed by the appropriate DISTRICT official, acting in the authorized capacity.

22. TIME IS OF ESSENCE. Time is of the essence for each and every provision of this Agreement.

23. STATEMENT OF EXPERIENCE. By executing this Agreement, DISTRICT represents that it has demonstrated trustworthiness and possesses the quality, fitness and capacity to perform the Agreement in a manner satisfactory to CITY.

DISTRICT represents that its financial resources, surety and insurance experience, service experience, completion ability, personnel, current workload, experience in dealing with private consultants, and experience in dealing with public agencies all 149
150
EXHIBIT A Summer Camp Budget
June - August 2023
Personnel
Summer Staff (Recreation Leaders) 5 Weeks $ 40,000.00
Equipment & Supplies
Sports Camps $ 34,000.00
Office Supplies $ 1,000.00
Staff Shirts $ 1,200.00
Professional Services
Contract Services (Camps) $ 81,300.00
Transportation $ 25,000.00
Adminstrative Services
City Administrative Costs $ 18,250.00
$ 200,750.00
151
To: Honorable Mayor and Members of the City Council
From: Miguel Perez,
Subject: PROCLAMATIONS, CERTIFICATES OF RECOGNITION, AND CITY

MEMBORABILIA POLICY
Date: May 17, 2023
Agenda Item: 10.E

CITY OF SANTA PAULA

MEMORANDUM
RECOMMENDATION:

Staff recommends that City Council:

1. Adopt Resolution No. 7453, establishing a policy regarding proclamations, certificates of recognition, and city memorabilia.

BACKGROUND:

Prior to placement on the agenda, the Mayor and City Manager currently approves proclamations, certificates of recognition, and memorabilia for organizations or members of the public on a case-by-case basis. This creates an opportunity for discrepancies when issuing proclamations and certificates of recognition.

On February 18, 2023, the City Council held a special meeting to review the initial draft of a policy for proclamations, certificates of recognition, and memorabilia ("Policy"), and provided feedback to staff on the Policy and any national recognition programs to be included. A second review of the Policy and further discussion were carried out during the March 1, 2023, special meeting. Additionally, on April 5, 2023, the City Council held a regular meeting to further review the initial draft and provided feedback to staff on the Policy.

ANALYSIS:

Below, staff is providing a synopsis of all requested changes from the April 5, 2023 meeting in an effort to provide Council with a finalized and completed Policy. As a result, the following revisions have been made and are reflected in the resolution before Council this evening:

Under Resolution No. 7453: Policy Section C, revisions were made to clarify the language regarding the City's participation in state and federal recognition programs, as requested by Council. In addition, under Section 3.D, Council requested the removal of the mention of "an eagle scout recipient." While the recognition of such recipients is still possible and warranted, it is no longer explicitly stated in the guidelines since the occurrence of such achievements has been low.
152
In the City Memorabilia Section 4, Council requested changes to section 4.A related to recognition for outstanding achievement or recognition of city service. Previously, it read "A City tile or other awards containing the City's official seal or branding logo should be reserved for outstanding achievement or recognition." It now reads, "A City tile or other awards containing the City’s official seal or branding logo should be reserved for outstanding achievement or recognition of city service." Council also requested changes to Section 4.C related to recognition for years of full-time service to the city or for elected or appointed officials. Council provided feedback to change the wording from "full-time service" to "full-time equivalent to the city or an elected Council Member or appointed official." Additionally, changes were made to Section C to broaden the eligibility criteria for recognition. Previously, it stated that recognition could be awarded to "a volunteer having served 15 years of aggregate service." It now reads that recognition may be awarded to "a commissioner or committee member having served eight (8) or more years of aggregate service, or part-time employees or volunteers having at least 10 years of equivalent service." With these changes, the new Policy is now ready for Council adoption, as detailed in Resolution 7453, attached.

STRATEGIC PLAN:

This item is not a goal or objective in City Council's two-year Strategic Plan; however, it will serve as a platform to enhance operational excellence for recognizing people, organizations, events, and notable members that impact the Santa Paula Community.

FISCAL IMPACTS:

For the recognition "policy", the fiscal impact of c ertifying our organization for the Presidential Recognition program includes Certificate Only - $5.00, Certificate + Pin - $6.50, Certificate + Coin - $10.50, Certificate + Medallion - $10.50.

Expenses related to other recognition and memorabilia items would be as budgeted for in future years and generally cost between $50 - $100 per plaque or item.

OPTIONS:

As an alternative to staff's recommended action, the City Council may:

1. Request that staff revise or conduct further review of the guidelines for issuing proclamations, recognitions, and city memorabilia.

2. Decline to move forward with this item.

ATTACHMENTS:

Resolution No. 7453 - ADOPTING PROCLAMATIONS, CERTS OF RECOGNITION, AND

CITY MEMBORABILIA POLICY
Proclamations_Certificates_of_Recognition_City_Memorabilia.pdf 153
Attachment AResolution No. 7453
154
RESOLUTION NO. 7453

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA

PAULA, CALIFORNIA, ESTABLISHING THE CITY PROCLAMATIONS,

CERTIFICATES OF RECOGNITION, AND CITY MEMORABILIA POLICY WHEREAS, the City of Santa Paula recognizes the contributions of individuals, organizations, and events that positively impact the community, and desires to establish set standards and guidelines for the issuance of proclamations and the distribution of other recognition items; and
WHEREAS, the City of Santa Paula recognizes that proclamations represent an important means of recognizing significant contributions or creating awareness of an event or issue specific to Santa Paula and its residents; and
WHEREAS, it is beneficial for the City to have standards and guidelines which govern the application of such items of recognition;
NOW, THEREFORE, the City Council of the City of Santa Paula does hereby resolve as follows, that the following guidelines for the issuance of proclamations and distribution of recognition items shall be established:

SECTION 1. The City Council hereby adopts the Proclamations, Certificates of Recognition and City Memorabilia Policy (“Policy) attached as “Exhibit A” to supersede any previous standards or guidelines for issuance of proclamations and distribution of recognition items and authorizes the Mayor and designated staff to take positions on recognizing those individuals and organizations who are consistent with the Policy and such other recommendations that may from time to time be presented to the City Council.

SECTION 2. The City Clerk will certify to the passage and adoption of this Resolution and enter it into the book of original resolutions.

SECTION 3. This Resolution will become effective upon adoption.

PASSED AND ADOPTED THIS 17th day of May, 2023.
___________________________
Andy Sobel
Mayor
ATTEST:
155
________________________
Julie Latshaw
City Clerk
APPROVED AS TO FORM:
________________________
Monica Castillo
Interim City Attorney
156
Exhibit A
to Resolution No. 7453
157
City of Santa Paula
Proclamations, Certificates of Recognition, City Memorabilia Policy

1. Purpose
To establish and provide set standards and guidelines for issuance of proclamations and the distribution of other recognition items.

2. Policy
The City of Santa Paula proudly recognizes people, organizations, events, and notable community members that impact the Santa Paula community. Proclamations are important in recognizing significant contributions or creating awareness of an event or significant issue specific to Santa Paula and its residents.
a) Proclamations are issued for matters of local, regional, or national concern and are generally issued to organizations, residents, or events in or occurring in Santa Paula. b) Certificates of Recognition and/or Appreciation, as well as city memorabilia are issued to recognize special events, achievements, or occurrences in people’s lives or for the organization’s special events.
c) The city actively seeks to participate in state and federal recognitions programs, such as the Presidential Service Award and Congressional Recognitions’.

3. Procedures
a) An individual or organization, or member of the City Council may submit a proclamation or certificate request at least one month before the event or the Council meeting where the proclamation is to be presented or read. b) Requests should be submitted to the City Manager’s Office or a member of the City Council in writing (email or letter) and should contain information that explains the purpose and/or reason for the request, proper description of any names, dates, or titles, and sample language for the proclamation or certificate. c) Recognition requests relevant to the City of Santa Paula may be honored except those related to political or religious subject matter. The City Manager will determine if the recognition item meets the requirements of this policy and will consult with the Mayor before agreeing to the request.
158
d) A representative from the requesting party (organization or individual) should be available to receive the proclamation or certificate. Proclamations can be prepared for such purposes as: recognizing a 100+ birthday, recognizing the president of a civic or charitable organization, retirement or honoring a day/week/month (i.e., breast cancer awareness month).

4. City Memorabilia
a) A City tile or other awards containing the City’s official seal or branding logo should be reserved for outstanding achievement or recognition of city service.

Presentation of such memorabilia should be reserved as the highest award or gift the City can present to someone.
b) The determination on whether or not to issue such memorabilia rests jointly with the Mayor and City Manager. Should a disagreement exist as to the application of the memorabilia, the Mayor may consult with the Vice Mayor. If the matter is still in dispute, the full City Council may be asked to make such a determination. c) Employees having served a minimum of five (5) years of full-time equivalent service to the City or an elected Councilmember or appointed official having served an equivalent of four (4) years of service, or a commissioner or committee member having served eight (8) or more years of aggregate service, or part-time employees or volunteers having at least 10 years of equivalent service, should be presented with a City tile, including a plaque recognizing their name, title, and years of service to the City.
d) Printed items or plaques containing the City logo or seal may be used more universally as annual holiday gifts, recognition to volunteers and employees, or as tokens of recognition to new businesses or for personal awards or milestones.

Years of Service
City Employee 5 years of full-time service to the City
City Council 4 years of service
Commissioner or Committee Member 8 or more years of aggregate service Extra Help or Part Time 10 years of equivalent service
Volunteers 10 years of equivalent service
159

5. Service Award
a) Service awards are presented to employees celebrating years of service with the City of Santa Paula, beginning in the fifth year and every five years thereafter. b) Human Resources maintains service records and orders and prepares award materials.
c) Recipients receive a certificate or other similar item. d) Awards are distributed during an annual employee appreciation meeting.

6. Retirement Recognition
Retirement recognition commemorates the time when an employee retires. a) Human Resources orders and prepares award materials. b) Recipients receive an achievement award, such as a plaque or similar item with the retiree’s name and years of service.
c) Employees can appear at a City Council meeting to receive their retirement award. d) Department Director may hold an optional celebratory department gathering. 160
To: Honorable Mayor and Members of the City Council
From: Christy Ramirez, Finance Director
Subject: FOURTH AMENDMENT TO PROFESSIONAL SERVICES AGREEMENT WITH WILLDAN FINANCIAL SERVICES FOR CFD NO. 1 SPECIAL

ASSESSMENT TAX BONDS ADMINSTRATIVE AND AUDITING

SERVICES
Date: May 17, 2023
Agenda Item: 10.F

CITY OF SANTA PAULA

MEMORANDUM
RECOMMENDATION:

It is recommended that the City Council:

1. Authorize the City Manager to amend the Willdan Financial Services Contract for auditing services to $89,650, an increase of $30,000.

2. Allocate $89,650 to the CFD professional services budget 504-5-6002-209.

BACKGROUND:

On November 21, 2016 the City Council adopted Resolution No. 7013 forming the Harvest Community Facilities District No. 1 and three Improvement Areas designated “A,” “B,” and “C” (corresponding to anticipated phases of development) to finance public infrastructure needs for The Harvest at Limoneira project and certain City services costs. Bonds, payable only from CFD No. 1 taxes and not from the general fund, to finance public infrastructure were issued in 2020 and 2022 and are contemplated to be issued again, likely in 2023, and beyond as development progresses.

The developer had originally expected to fund as much of the public infrastructure costs as possible through either bonds issued for the CFD, which began authorized in an amount not to exceed $33 million for Improvement Area A, $31 million for Improvement Area B, and $24 million for Improvement Area A, and/or directly on a pay as you go basis from special taxes levied on homeowners in the CFD.

At its meeting on December 10, 2018, the Council, at the request of the developer of the project, expressed its consideration to amend the special tax rate for the CFD. With an increased tax rate the CFD would be able to issue a greater amount of bonds, so at its meeting on January 16, 2019, the Council, likewise, at the request of the developer of the project, expressed its consideration of increasing the bond authorizations to the following amounts: $40,000,000 for Improvement Area A, $41,000,000 for Improvement Area B, and $32,000,000 for Improvement Area C. These changes were finalized in February 2019. On December 21, 2022, Council authorized a resolution that increased those amounts to 161
$70,000,000 for Improvement Area B, and $55,000,000 for Improvement Area C.

Improvement Area A remained the same.

ANALYSIS:

The Harvest at Limoneira project is approved for up to 1,500 residential dwelling units and

17.22 acres of commercial use to be constructed on 494.91 acres in the eastern part of the incorporated boundaries of the City. Approximately 632 residential units will be constructed in the first phase, with the remaining 868 residential units to be constructed in a second and third phase. The developer, Limoneira Lewis Community Builders, LLC has construction underway.

The City in 2016 formed Harvest Community Facilities District No. 1 to finance public infrastructure and certain City services costs. Bonds, payable only from CFD No. 1 assessments and not from the general fund, to finance public infrastructure for Improvement Area A were issued in 2020 and 2022 and are contemplated to be issued again as a final series for Improvement Area A. Issuances of bonds for Improvement Area B and C are planned for the future as development of the project progresses.

In order to be reimbursed for expenses through the bond proceeds, the developer submits documentation which must then be reviewed and submitted to the bond trustees requesting the funds be transferred to the developer. The City contracted with Willdan Financial Services to provide auditing services in January 2020 for $9,500. Subsequent amendments (April 2020 and November 2020) increased the total not to exceed amount for this service to $59,650, as additional bonds were issued and further drawdown requests were made. A third amendment was made in May 2021 to address a separate arbitrage and review task not related to the payment auditing.

Staff is requesting an additional $30,000 for payment auditing services, for a total not to exceed amount of $89,650 for this task. This request will be sufficient to cover any remaining Fiscal Year 22/23 drawdowns as well as Fiscal Year 23/24. A budget allocation of the full $89,650 is being requested as it was previously omitted from the budget due to a staff oversight.

STRATEGIC PLAN:

FISCAL IMPACTS:

The CFD budget allocations are held within their own fund, and are replenished through a special assessment tax. There is sufficient funding available to cover the current year allocation request. Future costs will be incorporated into the annual assessment requests provided to the County.

OPTIONS:

The Council may choose to not approve the contract amendment and end the Willdan Financial Services contract. Doing so would impact the Developer's ability to receive timely reimbursement of funds once bond proceeds are available, which would violate the bond agreement.

ATTACHMENTS:

Fourth Amendment-Willdan.doc
162
163

FOURTH AMENDMENT TO

PROFESSIONAL SERVICES AGREEMENT

BETWEEN

THE CITY OF SANTA PAULA AND WILLDAN FINANCIAL SERVICES
THIS FOURTH AMENDMENT (“Amendment”) is made and entered into this 17th day of May 2023, by and between the CITY OF SANTA PAULA, a general law city and municipal corporation existing under the laws of California (“CITY”), and Willdan Financial Services. (“CONSULTANT”).

1. Pursuant to Section 28 of the Agreement entered between the parties on January 27, 2020, this Amendment will modify the not to exceed amount for the additional acquisition auditing services. The City will increase the contract for this task to the amount not to exceed Eighty-Nine Thousand Six Hundred and Fifty Dollars and no cents ($89,650.00).

2. This Amendment may be executed in any number or counterparts, each of which will be an original, but all of which together constitutes one instrument executed on the same date.

3. Except as modified by this Amendment, all other terms and conditions of Agreement dated January 27, 2020 remain the same.
[SIGNATURES ON NEXT PAGE]
164
IN WITNESS WHEREOF the parties hereto have executed this contract the day and year first hereinabove written.

CITY OF SANTA PAULA Company Name
_________________________________ ___________________________ Dan Singer,
City Manager
ATTEST:
_____________________________ _____________________________ Julie Latshaw,
City Clerk
APPROVED AS TO FORM: Taxpayer ID No. __33-0302345_
_________________________________ **2nd Signature required for Corporations.

Monica Castillo,
Interim City Attorney
165
To: Honorable Mayor and Members of the City Council
From: Greg Barnes, Parks and Recreation Director
Subject: SENIOR NUTRITION PROGRAM GRANT AUTHORIZATION
RESOLUTION NO. 7456
Date: May 17, 2023
Agenda Item: 10.G

CITY OF SANTA PAULA

MEMORANDUM
RECOMMENDATION:

Staff recommends that the City Council:

1. Adopt Resolution No. 7456 authorizing staff to submit an application for grant funding under the Older Americans Act for the Senior Nutrition Program.

2. Authorize the City Manager or designee to sign all required submittals.

BACKGROUND:

The City, through grant funding provided by the Ventura County Area Agency on Aging (VCAAA), has offered a Senior Nutrition Program (SNP) for seniors in Santa Paula for many years. The program is for seniors 60 years and older and offers congregate and home delivered meals for a suggested donation of $3 per meal. This fiscal year, the program has served 18,018 meals to date.

ANALYSIS:

Every year staff is required to submit a renewal application for the upcoming fiscal year. The City is requesting $138,341.00 in grant funding for fiscal year 2023-24 from VCAAA to operate and administer congregate and home delivered meals to seniors in Santa Paula.

The attached resolution authorizes the City Manager or designee to submit the grant application and serve as signatory for all matters related to the administration of this grant.

The action being requested of City Council this evening is retroactive. The application has already been submitted to the Ventura County Area Agency on Aging.

STRATEGIC PLAN:

This item does not directly address any of City Council's strategic goals. However, it does provide the opportunity to continue to serve our senior population by addressing their nutritional needs and provide a healthy social environment. 166
FISCAL IMPACTS:

Funding will cover all of our operational expenses to run the program and will be reflected in the FY 2023-24 budget once the grant has been awarded.

OPTIONS:

In addition to the recommended action, Council has the following options:

1. Do not adopt the resolution.

If the resolution is not adopted, staff will not be able to complete the grant process; the Senior Nutrition Program would end June 30, 2023.

ATTACHMENTS:

EXHIBIT A: SNP RESOLUTION NO. 7456.pdf
167

EXHIBIT A
RESOLUTION NO. 7456

SENIOR NUTRITION PROGRAM GRANT
168
RESOLUTION NO. 7456

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA PAULA

APPROVING THE PREPARATION OF AN OLDER AMERICANS ACT RENEWAL

GRANT APPLICATION FOR SENIOR NUTRITION PROGRAM FUNDS
The City Council of the City of Santa Paula does resolve as follows:

SECTION 1: The City Council finds and declares as follows:

A. The City of Santa Paula intends to prepare an application for Older Americans Act Grant Funds for the Senior Nutrition Program. The Grant is administered by the Ventura County Area Agency on Aging; B. In order to secure grant funding, the City must submit a resolution authorizing and approving the grant application. The resolution must indicate by name who is authorized to execute and submit all documents for the City Council.

C. In order to obtain grant funding, the City must contribute a minimum of 10% of total project costs through funding or in-kind property or services; and
D. The proposed application must be submitted to the Ventura County Area Agency on Aging by May 4, 2023.

SECTION 2: The City Council of the City of Santa Paula hereby approves the filing of a renewal application for an older Americans grant for the Senior Nutrition Program; and

1. Certifies that a minimum of 10% of funds or in-kind property or services will be provided by the City; and

2. Certifies that a renewal application for grant funding will be submitted to the Ventura County Area Agency on Aging by May 4, 2023; and

3. Appoints the City Manager of Santa Paula or designee as agent to conduct all negotiations, execute and submit all documents including, but not limited to applications, agreements, amendments, payment requests, and so on, which may be necessary for the completion of the aforementioned grant.

SECTION 3: This Resolution becomes effective immediately upon adoption and will remain effective until superseded by a subsequent resolution. [Signatures follow on Next Page]
PASSED AND ADOPTED this 17th day of May, 2023
__________________________
Andy Sobel, Mayor 169
ATTEST:
____________________________
Julie Latshaw, City Clerk
APPROVED AS TO FORM:
____________________________
Monica Castillo, Interim City Attorney
APPROVED AS TO CONTENT:
_____________________________
Dan Singer, City Manager
170
To: Honorable Mayor and Members of the City Council
From: James Mason, Community & Economic Development Director Subject:

RE-INTRODUCTION OF ORDINANCE NO. 1329 AMENDING SECTION

16.13.410 OF THE SANTA PAULA MUNICIPAL CODE REGARDING THE

USE OF AFFORDABLE HOUSING TRUST FUND MONIES FROM

HOUSING IN-LIEU FEE PAYMENTS
Date: May 17, 2023
Agenda Item: 11.A

CITY OF SANTA PAULA

MEMORANDUM
RECOMMENDATION:

Staff recommends the City Council re-introduce and waive first reading of Ordinance No. 1329, entitled, "AN ORDINANCE OF THE SANTA PAULA CITY COUNCIL AMENDING SECTION16.13.410, AFFORDABLE HOUSING TRUST FUND, TO PROVIDE MORE

CLARITY IN THE PROCESS AND USE OF AFFORDABLE HOUSING TRUST FUNDS FROM THE HOUSING IN-LIEU PAYMENTS."
BACKGROUND:

At the City Council regular meeting of May 2, 2023, the City Council introduced and waived the first reading of Ordinance No. 1329. The City Council requested further amendments to the Ordinance pursuant to staff and the Santa Paula Housing Task Force recommendations, which under Government Code Section 36934 requires re-introduction of the Ordinance prior to second reading. The proposed Ordinance (Attachment A) presented tonight is its reintroduction for first reading with such amendments. Attachment B is a redline showing changes made to the earlier draft ordinance presented on May 2, 2023.

ANALYSIS:

Recommended changes to the City's existing Inclusionary Housing Ordinance include language that provides clarity on how the Affordable Housing Trust Fund monies can be utilized consistent with municipal best practices for the use of inclusionary affordable housing funds. The proposed ordinance (Attachment A) is based on the recommendations of the Planning Commission, staff, and the Santa Paula Affordable Housing Task Force (SPAHTF), a local ad hoc committee comprised of individuals from the following organizations: CAUSE, Santa Paula Housing Authority, Housing Trust Fund Ventura County, Many Mansions, People's Self Help Housing, Santa Clara Valley Together, Santa Paula Latino Town Hall, House Farm Workers, Spirit of Santa Paula, and Habitat for Humanity. 171
The initial draft of amendments to Santa Paula Municipal Code Section 16.13.410 was considered by and recommended by the Planning Commission on January 28, 2023. The Planning Commission's recommendation was later revised and enhanced pursuant to input received from the Planning Commission and the SPAHTF prior to and during a March 28, 2023 Planning Commission meeting.

Following the March 28, 2023 Planning Commission meeting and their approval of Resolution No. 3847 recommending that the City Council adopt an ordinance amending Chapter

16.13.410, which addresses the Affordable Housing Trust Fund, the SPAHTF requested that language be added to the ordinance to provide further clarification. This request was made prior to the City Council May 2, 2023 meeting and then conveyed at the meeting.

Specifically, the SPAHTF requested that there be city staff guidance provided to an Affordable Housing Trust Fund Oversight Committee and that funding be made available to support the financial stability of the Santa Paula Housing Authority. Staff is recommending that additional language provide clarity and consistency in the description of the role of the Affordable Housing Trust Fund Oversight Committee. Any additional allocations of funding related to affordable housing programs should be handled on a case-by-case basis as specific budget allocations for programs or projects based on recommendations from city staff and the Affordable Housing Trust Fund Oversight Committee. Staff will return to City Council with recommendations for the composition of the Affordable Housing Trust Fund Committee and a resolution formalizing their formation, roles and responsibilities.

Environmental Assessment
This Ordinance was reviewed in accordance with the California Environmental Quality Act (CEQA), the State CEQA Guidelines (Guidelines), and the environmental regulations of the City. Staff finds that this Ordinance is not subject to CEQA because the adoption of the ordinance is not a "project" pursuant to Sections 15060(c)(2) and 15060(c)(3) of Title 14 of the California Code of Regulations. Further, under Section 15061(b)(3) of the State CEQA Guidelines, this resolution is exempt from the requirements of CEQA because it can be seen with certainty that the provisions contained herein would not have the potential for causing a significant effect on the environment.

STRATEGIC PLAN:

Refinement of this code language to enhance applicability and usability of affordable housing monies towards stability and growth of Santa Paula's housing supply advances 2021-2023 City Council Strategic Goal E.1, which calls for analysis of options to address and reduce homelessness.

FISCAL IMPACTS:

Adoption of the proposed Ordinance will result in more opportunities to utilize the Affordable Housing Trust Fund monies, while also requiring them to be allocated based on a defined process that will include a preliminary review of applications, recommendations to Council by a committee, and final approval by the City Council.
172
OPTIONS:

As an alternative to Staff's recommendation, the City Council may: Decline to approve Staff's recommendation and direct staff to make further edits to the proposed Ordinance.

ATTACHMENTS:

ATTACHMENT A - ORDINANCE_NO.1329_Inclusionary Housing
ATTACHMENT B - Redline of 5.2.23 and 5.17.23 Draft Ordinances 173

ATTACHMENT A
CITY COUNCIL ORDINANCE NO. 1329
174
ORDINANCE NO. 1329

AN ORDINANCE OF THE SANTA PAULA CITY COUNCIL AMENDING
SECTION 16.13.410, AFFORDABLE HOUSING TRUST FUND, TO

PROVIDE MORE CLARITY IN THE PROCESS AND USE OF
AFFORDABLE HOUSING TRUST FUNDS FROM THE HOUSING INLIEU PAYMENTS The City Council of the City of Santa Paula does ordain as follows:

SECTION 1. Recitals.

A. Section 16.13.410 of the Santa Paula Municipal Code (“SPMC”) provides for the establishment of an Affordable Housing Trust Fund (“Fund”) and restricts Fund uses to the provision of affordable housing and reasonable costs associated with affordable housing development. Any inclusionary housing inlieu fees collected from developers must be deposited into the Fund.

B. The proposed amendments to SPMC 16.13.410 of the Santa Paula Municipal Code, as described herein, are intended to expand the permitted use of Fund monies to aid in compliance with State law requirements mandating an increase in affordable housing, including but limited to meeting the City’s Housing Element objectives.

C. The proposed amendment was reviewed by the City’s Planning Division for, in part, consistency with the General Plan and conformity with the Santa Paula Municipal Code.

D. The City Planning Division reviewed the proposed amendments’ environmental impacts under the California Environmental Quality Act (Public Resources Code §§ 21000, et seq., “CEQA”), the regulations promulgated thereunder (14 Cal. Code of Regulations §§15000, et seq., the “CEQA Guidelines”), and the City’s Environmental Guidelines (“Santa Paula Guidelines”; CEQA, CEQA Guidelines and Santa Paula Guidelines collectively referred to as “CEQA Regulations”).

E. On March 28, 2023, the Planning Commission opened a public hearing to receive and consider public testimony and other evidence regarding the proposed amendment and whether to approve Resolution No. 3648 to recommend the proposed amendment to the City Council for adoption by ordinance.

F. The Commission approved Resolution No. 3648 and its findings, based upon the evidence presented to the Commission at its March 28, 2023 hearing including, without limitation, the staff report submitted by the Planning Division. 175
G. A public hearing for City Council consideration of the proposed amendment was set for May 2, 2023, notice of which was given pursuant to SPMC §

16.208.040(A).

H. The City Council considered the information provided by City staff and public testimony. This Ordinance, and its findings, are made based upon such evidence presented to the City Council at its May 2, 2023 hearing and May 17, 2023 meeting including, without limitation, the staff report submitted by the Planning Division.

I. This Ordinance, and its findings, incorporates the amendments as recommended by the City Council at its May 2, 2023 hearing and May 17, 2023 meeting.

SECTION 2. Text Amendments. Section 16.13.410 (In-Lieu Fees and Affordable Housing Trust Fund) of the Santa Paula Municipal Code is hereby amended to read as follows:

A. Except for plan area projects, developers may pay a fee instead of providing onsite or off-site inclusionary housing units as set forth in this chapter. In-lieu fees will be based upon the methodology for calculating the in-lieu fee on a project-byproject basis as determined by City Council resolution.

B. An Affordable Housing Trust Fund Oversight Committee, appointed by the City Council, will be created to act in an oversight capacity of the Affordable Housing Trust Fund and may develop procedures to implement the purpose of the fund consistent with the provisions of this Section. This committee, along with city staff support, will provide recommendations to the City Council who will make final decisions regarding fund allocations and adoption of the committee-recommended procedures. The Affordable Housing Trust Fund Oversight Committee may also provide input on monies received from other sources including county, state, and federal funds as those funds relate to affordable housing. Fund monies shall be used to construct affordable housing, rehabilitate deed-restricted affordable units, preserve and extend the deed restrictions on existing affordable units, subsidize and support the financial stability of the Santa Paula Housing Authority and development projects, or assist other government entities, private organizations or individuals with achieving the foregoing purposes. Fund monies must be used to increase the supply of affordable housing for Low-Income Households within the city in accordance with the most recently adopted Housing Element of the City of Santa Paula General Plan, and may be used for the benefit of both owner-occupied and renter-occupied housing.

C. Any fee required pursuant to this division must be paid in full before the city issues a certificate of occupancy for any dwelling unit in an affordable housing project.

D. This division is intended to be one mechanism in an effort to increase and improve affordable housing in the City of Santa Paula. The City Council will, in concert with 176
the two-year budget process, conduct a review of the progress of this code division to increase and improve affordable housing in the city. The review by City Council shall include an accounting of the use of funds related to affordable housing and a discussion of other programs implemented by the city to increase and improve affordable housing in the City of Santa Paula. Funds will be made available based on the approval of the City Council.

SECTION 3. General Plan and Development Objectives. Pursuant to SPMC §

16.208.030(C), the City Council has reviewed the Planning Commission’s recommendation, and finds that the proposed amendment is consistent with the objectives of Title 16 of the SPMC, the General Plan, and development policies of the City as follows:

A. Nothing in the proposed ordinance would implement substantive changes that would affect the General Plan. Rather, these changes are intended to provide policy and process clarity in the use of Affordable Housing Trust Funds.

Accordingly, the proposed changes would remain consistent with the goals, policies and objectives in the City’s General Plan.

B. The proposed SPMC text amendments promote public health, safety, and general welfare and serve the goals and purposes of Title 16 to the SPMC. The amendment updates the SPMC’s regulation of the use of Affordable Housing Trust Funds to support the development of affordable housing units.

C. The proposed SPMC Amendments will make revisions to certain Code sections that would remove ambiguities; resolve internal inconsistencies; codify existing planning practices; and facilitate administration of the Inclusionary Housing Ordinance.

D. Adoption of the SPMC Amendments will not result in any new or increased environmental effects, and no new mitigation measures are required.

SECTION 4: Development Code Amendment Findings. Pursuant to SPMC § 16.208.050 FINDINGS REQUIRED, the City Council makes the following required findings of fact:

A. That the proposed Development Code text amendment is consistent with the goals, policies, and objectives of the General Plan.

Consistent. The proposed ordinance is consistent with the following:
a) LU 3.3: Diverse housing supply. Provide for a full range of housing types, locations and densities to accommodate the city’s share of regional housing needs for all income levels in a manner that:
i. Retains the scale and character of existing neighborhoods; ii. Facilitates upgrading and infill of underutilized land in existing neighborhoods;
177
iii. Allows expansion into vacant and underdeveloped lands consistent with infrastructure and environmental constraints;
iv. Provides safe and sanitary housing for all residents b) HE GOAL 1 - conserving and improving the quality of existing housing and residential neighborhoods in Santa Paula by:
i. Policy 1.2 – providing home improvement and rehabilitation assistance to lower- and moderate-income households, seniors, and the disabled; ii. Policy 1.3 – Promoting the repair, rehabilitation, or improvement of residential structures that are substandard or in disrepair; c) HE GOAL 2 – assisting in the provision of adequate housing to meet the needs of the community by:
i. Policy 2.1 – encouraging the production of housing that meets all economic segments of the community, including lower-, moderate-, and upper-income households to achieve a balanced community; ii. Policy 2.2 – providing financial and/or regulatory incentives where feasible to encourage the development of affordable housing; iii. Policy 2.3 – participating in homeownership assistance programs to enable lower- and moderate-income renters to move into home ownership; iv. Policy 2.4 – supporting the provision of rental housing to accommodate large families and agricultural workers;
d) HE GOAL 4 – mitigating any potential governmental constraints to housing production and affordability by:
i. Policy 4.1 – offering financial and/and or regulatory incentives, including density bonuses, where feasible to off-set or reduce the costs of developing affordable housing.

B. That the proposed Development Code text amendment will not adversely affect surrounding properties.

Consistent. Under the proposed ordinance, Affordable Housing Trust Fund monies shall be used to increase and improve the supply of affordable housing to medium-, low, very low- or extremely-low-income households within the city, who otherwise may remain unhoused or unable to maintain their homes at an acceptable level. Further, the proposed text amendment(s) are administrative in nature and limited to authorizing funding opportunities.

C. That the proposed Development Code text amendment promotes public health, safety, and general welfare and serves the goals and purposes of Title 16. 178
Consistent. The proposed ordinance promotes public health, safety, and general welfare and serves the goals and purposes of the General Plan by refining and enhancing opportunities to construct; provide rehabilitation of deed restricted units; or subsidize & support the financial stability of affordable housing developers and development projects; or assist other government entities, private organizations or individuals to do so.

SECTION 5. Environmental Assessment. This Resolution was assessed in accordance with the authority and criteria contained in the California Environmental Quality Act (CEQA), the State CEQA Guidelines (Guidelines), and the environmental regulations of the City. The Planning Commission hereby finds that this resolution is not subject to CEQA because the adoption of this resolution is not a "project" pursuant to Sections 15060(c)(2) and 15060(c)(3) of Title 14 of the California Code of Regulations. Further, under Section 15061(b)(3) of the State CEQA Guidelines, this resolution is exempt from the requirements of CEQA because it can be seen with certainty that the provisions contained herein would not have the potential for causing a significant effect on the environment.

SECTION 6. If any section, subsection, subdivision, sentence, clause, phrase, or portion of this Ordinance for any reason is held to be invalid or unconstitutional by the decision of any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this Ordinance. The City Council hereby declares that it would have adopted this Ordinance, and each section, subsection, subdivision, sentence, clause, phrase, or portion thereof, irrespective of the fact that any one or more sections, subsections, subdivisions, sentences, clauses, phrases, or portions thereof be declared invalid or unconstitutional.

SECTION 7: The City Clerk shall certify as to the passage and adoption of this Ordinance and shall cause a summary thereof to be published within fifteen (15) days of the adoption and shall post a certified copy of this Ordinance, including the vote for and against the same, in the Office of the City Clerk, in accordance with Government Code Section 36933.

PASSED AND ADOPTED this ____ day of June 2023

Andy Sobel, Mayor
ATTEST:

Julie Latshaw, City Clerk
APPROVED AS TO FORM:
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Monica Castillo, Interim City Attorney
180

ATTACHMENT A
CITY COUNCIL ORDINANCE NO. 1329
181
ORDINANCE NO. 1329

AN ORDINANCE OF THE SANTA PAULA CITY COUNCIL AMENDING
CHAPTERSECTION 16.13.410, AFFORDABLE HOUSING TRUST

FUND, TO PROVIDE MORE CLARITY IN THE PROCESS AND USE OF

AFFORDABLE HOUSING TRUST FUNDS FROM THE HOUSING

IN-LIEU PAYMENTS
The City Council of the City of Santa Paula does ordain as follows:

SECTION 1. Recitals.

A. Section 16.13.410 of the Santa Paula Municipal Code (“SPMC”) provides for the establishment of an Affordable Housing Trust Fund (“Fund”) and restricts Fund uses to the provision of affordable housing and reasonable costs associated with affordable housing development. Any inclusionary housing in-lieu fees collected from developers must be deposited into the Fund.

B. The proposed amendments to SPMC 16.13.410 of the Santa Paula Municipal Code, as described herein, isare intended to expand the permitted use of Fund monies to aid in compliance with State law requirements mandating an increase in affordable housing, including but limited to meeting the City’s Housing Element objectives.

C. The proposed amendment was reviewed by the City’s Planning Division for, in part, consistency with the General Plan and conformity with the Santa Paula Municipal Code.

D. The City Planning Division reviewed the proposed amendments’ environmental impacts under the California Environmental Quality Act (Public Resources Code §§ 21000, et seq., “CEQA”), the regulations promulgated there underthereunder (14 Cal. Code of Regulations §§15000, et seq., the “CEQA Guidelines”), and the City’s Environmental Guidelines (“Santa Paula Guidelines”; CEQA, CEQA Guidelines and Santa Paula Guidelines collectively referred to as “CEQA Regulations”).

F. The Commission approved Resolution No. 3648 and its findings, based upon the evidence presented to the Commission at its March 28, 2023 hearing including, without limitation, the staff report submitted by the Planning Division.
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G. A public hearing for City Council consideration of the proposed amendment was set for May 2, 2023, notice of which was given pursuant to SPMC §

16.208.040(A).

I. This Ordinance, and its findings, incorporates the amendments as recommended by the City Council at its May 2, 2023 hearing and May 17, 2023 meeting.

SECTION 2. Text Amendments. ChapterSection 16.13.410 (In-Lieu Fees and Affordable Housing Trust Fund) of the Santa Paula Municipal Code is hereby amended to read as follows:

A. Except for plan area projects, developers may pay a fee instead of providing on-site or off-site inclusionary housing units as set forth in this chapter. In-lieu fees will be based upon the methodology for calculating the in-lieu fee on a project-by-project basis as determined by City Council resolution.

B. TheAn Affordable Housing Trust Fund shall be administered by an Affordable Housing Trust FundOversight Committee, appointed by the City Council, whichwill be created to act in an oversight capacity of the Affordable Housing Trust Fund and may develop procedures to implement the purpose of the fund consistent with the provisions of this Section. This committee, along with city staff support, will provide recommendations to the City Council who will make final decisions regarding fund allocations. The fund may also receive and adoption of the committee-recommended procedures. The Affordable Housing Trust Fund Oversight Committee may also provide input on monies received from other sources including county, state, and federal funds. Monies deposited in the Affordable Housing Trust Fund shall be expended as those funds relate to affordable housing. Fund monies shall be used to construct affordable housing, rehabilitate deed-restricted affordable units, preserve and extend the deed restrictions on existing affordable units, subsidize and support the financial stability of the Santa Paula Housing Authority and development projects, or assist other government entities, private organizations or individuals with achieving the foregoing purposes. Fund monies must be used to increase the supply of affordable housing for Low-Income Households within the city in accordance with the most recently adopted Housing Element of the City of Santa Paula General Plan to construct; provide rehabilitation of deed restricted units; or subsidize & support the financial stability of affordable housing developers and development projects; or assist other government entities, private organizations or individuals to do so. Monies shall be used to increase and improve the supply 183
of affordable housing to medium-, low, very low- or extremely-low-income households within the city. The fund, and may be used for the benefit of both owner-occupied and renter-occupied housing.

C. Any fee required pursuant to this division must be paid in full before the city issues a certificate of occupancy for any dwelling unit in thean affordable housing project.

D. This division is intended to be one mechanism in an effort to increase and improve affordable housing in the City of Santa Paula. The City Council will, in concert with the two-year budget process, conduct a review of the progress of this code division to increase and improve affordable housing in the city. The review by City Council shall include an accounting of the use of funds deposited into the Affordable Housing Trust Fundrelated to affordable housing and a discussion of other programs implemented by the city to increase and improve affordable housing in the City of Santa Paula. Funds will be made available on a rolling basisbased on the approval of the City Council.

SECTION 3. General Plan and Development Objectives. Pursuant to SPMC §

Accordingly, the proposed changes would remain consistent with the goals, policies and objectives in the City’s General Plan.

D. Adoption of the SPMC Amendments will not result in any new or increased environmental effects, and no new mitigation measures are required. 184
SECTION 4: Development Code Amendment Findings. Pursuant to SPMC §

16.208.050 FINDINGS REQUIRED, the City Council makes the following required findings of fact:

A. That the proposed Development Code text amendment is consistent with the goals, policies, and objectives of the General Plan.

Consistent. The proposed ordinance is consistent with the following:
a) LU 3.3: Diverse housing supply. Provide for a full range of housing types, locations and densities to accommodate the city’s share of regional housing needs for all income levels in a manner that:
i. Retains the scale and character of existing neighborhoods; ii. Facilitates upgrading and infill of underutilized land in existing neighborhoods;
iii. Allows expansion into vacant and underdeveloped lands consistent with infrastructure and environmental constraints; iv. Provides safe and sanitary housing for all residents b) HE GOAL 1 - conserving and improving the quality of existing housing and residential neighborhoods in Santa Paula by:
i. Policy 1.2 – providing home improvement and rehabilitation assistance to lower- and moderate-income households, seniors, and the disabled; ii. Policy 1.3 – Promoting the repair, rehabilitation, or improvement of residential structures that are substandard or in disrepair; c) HE GOAL 2 – assisting in the provision of adequate housing to meet the needs of the community by:
i. Policy 2.1 – encouraging the production of housing that meets all economic segments of the community, including lower-, moderate-, and upper-income households to achieve a balanced community; ii. Policy 2.2 – providing financial and/or regulatory incentives where feasible to encourage the development of affordable housing; iii. Policy 2.3 – participating in homeownership assistance programs to enable lower- and moderate-income renters to move into home ownership;
iv. Policy 2.4 – supporting the provision of rental housing to accommodate large families and agricultural workers;
d) HE GOAL 4 – mitigating any potential governmental constraints to housing production and affordability by:
185
i. Policy 4.1 – offering financial and/and or regulatory incentives, including density bonuses, where feasible to off-set or reduce the costs of developing affordable housing.

B. That the proposed Development Code text amendment will not adversely affect surrounding properties.

C. That the proposed Development Code text amendment promotes public health, safety, and general welfare and serves the goals and purposes of this Title 16.

Consistent. The proposed ordinance promotes public health, safety, and general welfare and serves the goals and purposes of the General Plan by refining and enhancing opportunities to construct; provide rehabilitation of deed restricted units; or subsidize & support the financial stability of affordable housing developers and development projects; or assist other government entities, private organizations or individuals to do so.

Further, under Section 15061(b)(3) of the State CEQA Guidelines, this resolution is exempt from the requirements of CEQA because it can be seen with certainty that the provisions contained herein would not have the potential for causing a significant effect on the environment.

SECTION 7: The City Clerk shall certify as to the passage and adoption of this Ordinance and shall cause a summary thereof to be published within fifteen (15) days of the adoption and shall post a certified copy of this Ordinance, including the vote for 186
and against the same, in the Office of the City Clerk, in accordance with Government Code Section 36933.

PASSED AND ADOPTED this ____ day of MayJune 2023

Andy Sobel, Mayor
ATTEST:

Julie Latshaw, City Clerk
APPROVED AS TO FORM:

Monica Castillo, Interim City Attorney
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To: Honorable Mayor and Members of the City Council
From: Donald Aguilar, Interim Police Chief
Subject: AXON BODY WORN CAMERA CONTRACT AWARD
Date: May 17, 2023
Agenda Item: 11.B

CITY OF SANTA PAULA

MEMORANDUM
RECOMMENDATION:

Staff recommends that the City Council:

2. Award Axon a five-year contract for Axon BWCs.

3. Authorize the City Manager or his designee to execute the Axon purchase agreement (Attachment A) and any documents necessary to implement agreement.

BACKGROUND:

The AXON evidence.com solution enables officers, detectives and prosecutors to access and connect to digital evidence through a secure connection. The system includes a mobile integration solution and analytic and auditing tools to help streamline evidence collection and review. This system enables our department to provide digital evidence workflows fully compatible with the Ventura County Sheriff’s Department and District Attorney’s Offices.

The AXON system is both a product purchase (i.e. cameras, chargers) as well as SaaS (Software-as-aService) solution (evidence.com). This solution enabled the City to repurpose the computer server and data storage investment made in 2014.

The AXON cameras are more superior to the current other similar type cameras the officers are currently using. Technically speaking the field of vision is increased from 120 degrees to 143 degrees. The overall recorded run time is increased from 2.5 hours to 12 hours. The available storage is increased from 18 hours to 70 hours. The new units can also be used in the rain and, if damaged, they can be sent back to the manufacture for replacement of the unit at no cost.

The Santa Paula Police Department entered a 5-year contract for body worn cameras, docking stations, camera mounting equipment and storage space for videos and photos in 2018. Axon has been one of the most widely used Body Worn Camera (BWC) technologies in law enforcement. It offers a web-based video archive system as well as interfaces with other products such as Taser.

Research has shown the use of the BWC has reduced the number of citizen complaints and, 189
in some cases, on-duty injury work claims. In November, 2022, the final installment of a 5- year contract for the Axon Body Worn Camera (BWC) was paid by the Santa Paula Police Department. December 1, 2022, begins a new 5-year contract period.

ANALYSIS:

Earlier this year, staff solicited bids from multiple vendors for body cameras and technical support. In conformance with the City's purchasing ordinance (SPMC Sections 41.08 and

41.09), the following quotes were received for a five-year contract term:

1. Axon

1. Axon costs to outfit 40 BWC's for December 2022 through November 2027 is $135,389. The annual amount billed is $27,077.

2. Safe Fleet

1. Safe Fleet costs for a five-year plan is $234,715, with $63,835 in first year costs and an annual amount of $42,720, thereafter. The plan includes a Nexus cloud, BWC hardware subscription, and docking stations.

3. Motorola VB400

1. Motorola VB400 costs for a five-year plan is $72,120, plus applicable sales tax, or $14,424 per year. The plan includes a five-year service license and docking stations.

4. Utility, Inc. (did not reply with a cost)
Copies of the three quotes are attached to this report.

In general, for equipment purchases over $50,000, a contract must be awarded to the lowest responsive and responsible bidder. However, SPMC Section 41.10 gives Council the sole authority to waive this requirement “when required or desirable and in conformance with state law.” State law provides that cities must adopt purchasing regulations and that purchases must conform to the city’s purchasing regulations. See Gov. Code 54202. An example of what is “required or desirable” is when “supplies … are available from only one vendor as supported by appropriate documentation.” SPMC Section 41.10. Because staff is recommending the purchase award go to Axon, and Axon is not the lowest bidder, Council must waive the requirement based on a finding that Axon BWC is "required or desirable".

Accordingly, staff recommends that Council waive purchasing requirements and find Axon BWC "required and desirable" for the following reasons:

The Police Department already has the technology used with Axon BWC, including a webbased cloud and docking stations. The Department, for nearly the last five years, has used Axon BWC and is pleased with its reliability/video quality. Interface with the County and other public safety agencies ensures ease of information exchange. Therefore, it is to the City's benefit to renew its Axon contract as opposed to initiating a contract with a new vendor to avoid associated challenges with transitions and utilizing a different operating system altogether (e.g. training, software installation, cost of personnel time). Staff can attest that Axon has provided a dependable and durable product with no history of product failure or webbased data loss or breeches.

STRATEGIC PLAN:

This item supports City Council’s goal of creating an environment within the City in which our 190
residents feel safe and which promotes the City as a location of choice for living, working, visiting and recreating identified in Section E. Public Safety, of the two-year Strategic Plan.

FISCAL IMPACTS:

The annual cost associated with the Axon system, as described above, is $27,077 per year for a total of $135,389 over the life of the five-year contract. Costs associated with body warn cameras for the Police Department have been budgeted and will be included with the next two-year budget request. Details of the quote from Axon are identified in Attachment A.

There is an increase in costs for the five-year contract in the amount of $21,596.

OPTIONS:

As an alternative to Staff's recommendation, Council may:

1. Reject all bids and direct staff to re-bid the contract.

2. Award the contract to Safe Fleet or Motorola VB400 upon determining that the selected vendor is a qualified bidder whose bid best fulfills the purpose intended according to criteria designated in the bid solicitation.

3. Continue the item and request staff return with more information.

ATTACHMENTS:

Attachment A - BWC Santa Paula PD - Axon BWC Quote.pdf
Attachment B - BWC Santa Paula PD SAFE FLEET (CA)_Q-45088.pdf Attachment C - BWC (40) VB400 Santa Paula PD Quote 2082696.pdf 191

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Q-433079-44869.693TR
Issued: 11/04/2022
Quote Expiration: 12/15/2022
Estimated Contract Start Date: 01/01/2023
Account Number: 133682
Payment Terms: N30
Delivery Method:

SHIP TO BILL TO SALES REPRESENTATIVE PRIMARY CONTACT
Delivery-214 S 10th St Santa Paula Police Dept. - CA Thom Ruseva-Mahan Ken Clark 214 S 10th St 970 E Ventura St Phone: +1 4804148450 Phone: 805-525-4474 Santa Paula, CA 93060-3704 Santa Paula, CA 93060-3637 Email: [email protected] Email: [email protected] USA USA Fax: +1 4809993359 Fax:

Email:

Quote Summary Discount Summary
Program Length 60 Months Average Savings Per Year $11,533.60 TOTAL COST $130,201.50
ESTIMATED TOTAL W/ TAX $135,389.95 TOTAL SAVINGS $57,668.00 Payment Summary
Date Subtotal Tax Total
Dec 2022 $26,040.30 $1,037.69 $27,077.99
Dec 2023 $26,040.30 $1,037.69 $27,077.99
Dec 2024 $26,040.30 $1,037.69 $27,077.99
Dec 2025 $26,040.30 $1,037.69 $27,077.99
Dec 2026 $26,040.30 $1,037.69 $27,077.99
Total $130,201.50 $5,188.45 $135,389.95
Axon Enterprise, Inc.
17800 N 85th St.

Scottsdale, Arizona 85255
United States
VAT: 86-0741227
Domestic: (800) 978-2737
International: +1.800.978.2737
192

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Santa Paula City CouncilMay 17, 2023

Santa Paula City Council
May 17, 2023