Agenda — Stanton City Council, August 12, 2025 (part 1 of 2)

TO THE MEMBERS OF THE CITY COUNCIL / SUCCESSOR AGENCY / HOUSING AUTHORITY FOR THE CITY OF STANTON AND TO THE CITY CLERK / SECRETARY:

NOTICE IS HEREBY GIVEN that a Special Meeting of the City Council / Successor Agency / Housing Authority for the City of Stanton is hereby called by the Mayor / Chairman, to be held on August 12, 2025, commencing at 5:30 p.m. at 7800 Katella Avenue, Stanton, CA 90680 (Council Chambers).

The Agenda for the Special Meeting is attached to this Notice and Call.

Dated: August 7, 2025
s/ Patricia A. Vazquez, City Clerk / Secretary

IN COMPLIANCE WITH THE AMERICANS WITH DISABILITIES ACT, IF YOU NEED SPECIAL ASSISTANCE TO PARTICIPATE IN THIS MEETING, PLEASE CONTACT THE OFFICE OF THE CITY CLERK AT (714) 890-4245.

NOTIFICATION PRIOR TO THE MEETING WILL ENABLE THE CITY TO MAKE REASONABLE ARRANGEMENTS TO ENSURE ACCESSIBILITY TO THIS MEETING.

PUBLIC ACCESS IN-PERSON AND VIA TELECONFERENCE
(Electronically / Telephonically)
Attendance by the members of the public may view the meeting live in one of the following ways:
• Attend in person - City Council Chambers: 7800 Katella Avenue, California 90680. • Via Teleconference (electronically / telephonically) - Zoom:

In order to join the meeting via telephone please follow the steps below:

1. Dial the following phone number +1 (669) 444-9171 (US).

2. Dial in the following Meeting ID: 852 4521 4406) to be connected to the meeting.

In order to join the meeting via electronic device please utilize the Zoom URL link below:
• https://us02web.zoom.us/j/85245214406?pwd=WUmPilXpZyorKw9BVjYgvfvqrZrMAg.1

ANY MEMBER OF THE PUBLIC WISHING TO PROVIDE PUBLIC COMMENT FOR ANY ITEM ON THE AGENDA MAY DO SO AS FOLLOWS:
• Attend in person and complete and submit a request to speak card to the City Clerk. • E-Mail your comments to [email protected] with the subject line “PUBLIC COMMENT ITEM #” (insert the item number relevant to your comment). Comments received no later than 5:00 p.m. before the scheduled meeting will be compiled, provided to the City Council, and made available to the public before the start of the meeting. Staff will not read e-mailed comments at the meeting. However, the official record will include all e-mailed comments received until the close of the meeting.

Should you have any questions related to participation in the City Council Meeting, please contact the City Clerk’s Office at (714) 890-4245 or via e-mail at [email protected].

NOTICE AND CALL

CITY COUNCIL

SUCCESSOR AGENCY

HOUSING AUTHORITY

SPECIAL MEETING
Stanton City Council Agenda Prepared by the Office of the City Clerk August 12, 2025

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In order to join the meeting via telephone please follow the steps below:

1. Dial the following phone number +1 (669) 444-9171 (US).

2. Dial in the following Meeting ID: 852 4521 4406) to be connected to the meeting.

In order to join the meeting via electronic device please utilize the Zoom URL link below:
• https://us02web.zoom.us/j/85245214406?pwd=WUmPilXpZyorKw9BVjYgvfvqrZrMAg.1

However, the official record will include all e-mailed comments received until the close of the meeting.

Should you have any questions related to participation in the City Council Meeting, please contact the City Clerk’s Office at (714) 890-4245 or via e-mail at [email protected].

AGENDA

SPECIAL & JOINT REGULAR MEETING

CITY COUNCIL

SUCCESSOR AGENCY

HOUSING AUTHORITY
TUESDAY, AUGUST 12, 2025
CLOSED SESSION - 5:30 P.M.

JOINT REGULAR SESSION - 6:30 P.M.

STANTON CITY HALL, 7800 KATELLA AVENUE, STANTON, CA
In compliance with the Americans With Disabilities Act, if you need special assistance to participate in this meeting, please contact the Office of the City Clerk at (714) 890-4245 or via e-mail at [email protected]. Notification prior to the meeting will enable the City to make reasonable arrangements to assure accessibility to this meeting.

Stanton City Council Agenda Prepared by the Office of the City Clerk August 12, 2025

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The City Council agenda and supporting documentation is made available for public review and inspection during normal business hours in the Office of the City Clerk, 7800 Katella Avenue, Stanton California 90680 immediately following distribution of the agenda packet to a majority of the City Council. Packet delivery typically takes place on Thursday afternoons prior to the regularly scheduled meeting on Tuesday. The agenda packet is also available for review and inspection on the city’s website at www.StantonCA.gov.

The City Council is required to comply with the Levine Act (Government Code § 84308). The purpose of the Levine Act is to prevent public officials from being influenced by campaign contributions from parties and other financially interested persons appearing before them and to prevent officials from using their position of authority to unduly influence applicants to make contributions to campaigns. The Levine Act only applies to certain matters brought to the City Council, including permits, licenses, some contracts, and other entitlements for use. While these matters are pending and for 12 months after a decision has been made, a Council Member may not accept, solicit, or direct campaign contributions of more than $500 from parties/participants who have a financial interest in the proceedings, or their respective agents. In addition, a Council Member who has received such a contribution may be required to disclose the contribution and recuse themselves from consideration of an agenda item. This summary of the Levine Act does not constitute legal advice. Council members who need to recuse themselves from an agenda item may provide notice at any time during the Council meeting before consideration of the item. Under certain circumstances, contributions may be returned by the public official in order to participate in a decision or otherwise cure a potential violation.

1. CLOSED SESSION(5:30 PM)

2. ROLL CALL Council / Agency / Authority Member Barrios Council / Agency / Authority Member Taylor
Council / Agency / Authority Member Warren
Mayor Pro Tem / Vice Chairman Torres
Mayor / Chairman Shawver

3. PUBLIC COMMENT ON CLOSED SESSION ITEMS
Closed Session may convene to consider matters of purchase / sale of real property (G.C. §54956.8), pending litigation (G.C. §54956.9(a)), potential litigation (G.C. §54956.9(b)) or personnel items (G.C. §54957.6). Records not available for public inspection.

4. CLOSED SESSION
4A. CONFERENCE WITH LEGAL COUNSEL-ANTICIPATED LITIGATION Significant exposure to litigation pursuant to Government Code Section 54956.9(d)(2) Number of Potential Cases: 1

5. CALL TO ORDER STANTON CITY COUNCIL / SUCCESSOR AGENCY / HOUSING AUTHORITY JOINT REGULAR MEETING (6:30 PM)
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6. ROLL CALL Council / Agency / Authority Member Barrios Council / Agency / Authority Member Taylor
Council / Agency / Authority Member Warren
Mayor Pro Tem / Vice Chairman Torres
Mayor / Chairman Shawver

7. PLEDGE OF ALLEGIANCE

8. SPECIAL PRESENTATIONS AND AWARDS
Update on City’s homeless outreach activities.

9. CONSENT CALENDAR
All items on the Consent Calendar may be acted on simultaneously, unless a Council/Board Member requests separate discussion and/or action.

CONSENT CALENDAR
9A. MOTION TO APPROVE THE READING BY TITLE OF ALL ORDINANCES AND RESOLUTIONS. SAID ORDINANCES AND RESOLUTIONS THAT APPEAR ON THE

PUBLIC AGENDA SHALL BE READ BY TITLE ONLY AND FURTHER READING WAIVED
RECOMMENDED ACTION:

City Council/Agency Board/Authority Board waive reading of Ordinances and Resolutions.
9B. APPROVAL OF WARRANTS
City Council approve demand warrants dated June 13, 2025 – July 24, 2025, in the amount of $7,575,676.59.
9C. APPROVAL OF MINUTES
City Council/Successor Agency/Housing Authority approve Minutes of Special and Joint Regular Meeting – July 8, 2025.

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9D. JUNE 2025 INVESTMENT REPORT
The Investment Report as of June 30, 2025, has been prepared in accordance with the City’s Investment Policy and California Government Code Section 53646.

RECOMMENDED ACTION:

1. City Council find that this item is not subject to California Environmental Quality Act (“CEQA”) pursuant to Sections 15378(b)(5) (Organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment); and

2. Receive and file the Investment Report for the month of June 2025. 9E. JUNE 2025 INVESTMENT REPORT (SUCCESSOR AGENCY)
The Investment Report as of June 30, 2025, has been prepared in accordance with the City’s Investment Policy and California Government Code Section 53646.

RECOMMENDED ACTION:

1. Successor Agency find that this item is not subject to California Environmental Quality Act (“CEQA”) pursuant to Sections 15378(b)(5) (Organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment); and

2. Receive and file the Investment Report for the month of June 2025. 9F. RESPONSE TO THE 2024-2025 ORANGE COUNTY GRAND JURY REPORT DATED MAY 22, 2025, ENTITLED, “LONG-TERM SOLUTIONS TO SHORT-TERM RENTALS” On May 22, 2025, the Orange County Grand Jury released a report entitled “Long-Term Solutions to Short-Term Rentals” (Attachment A). The report focused on issues surrounding short-term rentals (STRs) which are residences such as homes or apartments defined as allowing for occupancy for fewer than 30 days. California Penal Code Sections 933 and 933.05 require any public agency that the Grand Jury reviews respond to the findings and recommendations of the Grand Jury Report. The City’s proposed response letter responds to each of the applicable findings and recommendations (Attachment B).

RECOMMENDED ACTION:

1. City Council find that this item is not subject to California Environmental Quality Act (“CEQA”) pursuant to Sections 15378(b)(5)(Organizational or administrative activities or governments that will not result in direct or indirect physical changes in the environment); and
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2. Authorize the Mayor to sign the response letter to the Orange County Grand Jury related to the findings and recommendations contained in the May 22, 2025, report entitled “Long-Term Solutions to Short-Term Rentals”.
9G. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF STANTON, CALIFORNIA APPROVING SUBDIVISION TRACT MAP NO. 19184
The subdivision tract map for the development of four detached condominium units located at 8222 Starr Street has been submitted by the developer for final certification and recordation.

RECOMMENDED ACTION:

1. City Council declare this project categorically exempt under the California Environmental Quality Act, Class 3, Section 15303 (New Construction or Conversion of Small Structures); and

2. Adopt Resolution No. 2025-30 approving final Tract Map No. 19184, entitled:
“A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF STANTON, CALIFORNIA, APPROVING SUBDIVISION TRACT MAP NO. 19184 FOR THE PROPERTY LOCATED AT 8222 STARR STREET”; and

3. Find that the recordation of Tract Map No. 19184 will not be in violation of any of the provisions of Section 66474, 66474.1, and 66474.2 of the Subdivision Map Act; and

4. Find that the proposed subdivision, together with the provisions for its design and improvement, is consistent with the general plan required by Article 5 (commencing with Section 65300) of Chapter 3 of Division 1 of the Government Code, or any specific plan adopted pursuant to Article 8 (commencing with Section 65450) of Chapter 3 of Division 1 of the Government Code; and

5. Authorize the Mayor to execute the Subdivision Improvement Agreement for Tract Map No. 19184; and

6. Direct the City Engineer to review and approve any further technical edits necessary to allow for County Surveyor approval and for recordation of the map with the County Recorder of Orange County, and if edits are necessary, to require a revised Tract Map; and

7. Direct the City Clerk to endorse on the face of the map of the Tract Map, the certificate which embodies the approval of said map, and submit the map to the County Recorder of Orange County for recording.

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9H. ACCEPTANCE OF THE FISCAL YEAR (FY) 2023/24 CITYWIDE STREET RESURFACING PROJECT (TASK CODE NO. 2023-201) BY THE CITY COUNCIL OF

THE CITY OF STANTON, CALIFORNIA
The FY 2023/24 Citywide Street Resurfacing Project consisting of the demolition and removals, roadway modifications, concrete work (ramps, sidewalk, curb and gutters), asphalt pavement, signing and striping, and all appurtenant work for various streets throughout the City of Stanton is now complete. The City Engineer, in his judgment, certifies that the work was satisfactorily completed as of July 24, 2025, and recommends that the City Council accept the completed work performed on this project.

RECOMMENDED ACTION:

1. City Council find that this project is exempt from the California Environmental Quality Act (“CEQA”), Class 1, Section 15301(c) as repair, maintenance, and minor alteration of existing streets, sidewalks, gutters, and similar facilities; and

2. Accept the completion of improvements for the FY 2023/24 Citywide Street Resurfacing Project, as certified by the City Engineer, and affix the date of July 24, 2025, as the date of completion of all work on this project; and

3. Accept the final construction contract amount of $1,254,963.37 with R.J. Noble Company; and

4. Direct the City Clerk within ten (10) days from the date of acceptance to file the Notice of Completion (Attachment) with the County Clerk-Recorder of the County of Orange; and

5. Direct City staff, after thirty-five (35) days has elapsed from the filing of the “Notice of Completion” with the County Clerk-Recorder, to make the retention payment to R.J.

Noble Company in the amount of $62,748.17.

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9I. ACCEPTANCE OF THE CITYWIDE STREET SIGN REPLACEMENT PROJECT (PHASE 1) (TASK CODE NO. 2022-102)
The Citywide Street Sign Replacement Project (Phase 1) consisting of the replacement of City street name signs on principal and collector streets and signalized intersections is now complete. The City Engineer, in his judgment, certifies that the work was satisfactorily completed as of July 28, 2025, and recommends that the City Council accept the completed work performed on this project.

RECOMMENDED ACTION:

1. City Council declare this project categorically exempt under the California Environmental Quality Act, Class 2, Section 15302; and

2. Accept the completion of improvements for the Citywide Street Sign Replacement Project (Phase 1), as certified by the City Engineer, and affix the date of July 28, 2025, as the date of completion of all work on this project; and

3. Accept the final construction contract amount of $199,455.00 with Superior Pavement Markings, Inc.; and

4. Direct the City Clerk within ten (10) days from the date of acceptance to file the Notice of Completion (Attachment) with the County Clerk-Recorder of the County of Orange; and

5. Direct City staff, after thirty-five (35) days has elapsed from the filing of the “Notice of Completion” with the County Clerk-Recorder, to make the retention payment to Integrated Demolition and Remediation, Inc. in the amount of $9,927.75. 9J. APPROVAL OF UPDATED DELEGATED MAINTENANCE AGREEMENT WITH THE

STATE OF CALIFORNIA THROUGH THE DEPARTMENT OF TRANSPORTATION The Delegated Maintenance Agreement (DMA) of Beach Boulevard (State Route 39) from North to South City Limits between the City and the State of California through the California Department of Transportation (Caltrans) has been updated. The agreement covers maintenance services provided by the City within the State right-of-way and increases the maximum annual reimbursement to the City.

RECOMMENDED ACTION:

1. City Council declare that this action is not a project per the California Environmental Quality Act; and

2. Accept the Delegated Maintenance Agreement between the City and the State of California, through the Department of Transportation (Caltrans); and

3. Authorize the City Manager to execute said Agreement.

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9K. RESOLUTION AUTHORIZING A NEW INVESTMENT ALLOCATION AND INVESTMENT POLICY STATEMENT FOR THE CITY OF STANTON SECTION 115

TRUST FOR OTHER POST EMPLOYMENT BENEFITS (OPEB)/PENSION

STABILIZATION
The City recently approved the transfer of the administration and investment management of the OPEB/Pension Stabilization Section 115 Trust to Shuster Advisory Group, LLC (“Shuster”) on June 24, 2025. Previously, the City chose to utilize HighMark Capital Management as its Investment Manager. PFM Asset Management LLC (“PFMAM”), a subsidiary of U.S. Bank, took over investment management services effective January 1, 2024. Of the five investment policy options ranging from Conservative to Capital Appreciation, the City selected the “Moderate Strategic Blend” 50%/50% (Equity/Fixed Income) allocation option.

On July 8, 2025, staff met with Shuster to discuss potential investment strategies. After considering the City’s present financial condition and strategic objectives, staff recommends a change to a 60%/40% (Equity/Fixed Income) investment allocation.

RECOMMENDED ACTION:

1. City Council find that this item is not subject to California Environmental Quality Act (“CEQA”) pursuant to Section 15378(b)(5) (Organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment); and

2. Adopt Resolution No. 2025-31, entitled:
“RESOLUTION OF THE CITY COUNCIL OF THE CITY OF STANTON,

CALIFORNIA APPROVING THE INVESTMENT POLICY STATEMENT
FOR THE CITY OF STANTON’S MULTIPLE EMPLOYER
OPEB/PENSION 115 TRUST ADMINISTERED BY SHUSTER ADVISORY GROUP, LLC”; and

3. Approve the current investment allocation mix for the OPEB/Pension 115 Trust administered by Shuster Advisory Group, LLC from balanced to moderate growth with a 60/40 asset allocation of equity to fixed income investments to achieve the investment objective within the current capital markets.

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9L. OPENGOV ANNUAL SOFTWARE SUBSCRIPTION SERVICES
Staff is seeking City Council approval to appropriate $24,563.10 from the Special Projects Assigned Fund Balance for OpenGov annual software subscription services for one year.

If approved, the City would have the ability to run parallel services during the transition to the new Enterprise Resource Planning (ERP) system, Oracle Netsuite, to support the annual budgeting process.

RECOMMENDED ACTION:

2. Authorize the City Manager to approve the one-year subscription agreement with OpenGov, not to exceed $24,563.10; and

3. Appropriate a total of $24,563.10 from the Special Projects Assigned Fund Balance to increase the budget for Contractual Services in the IT division (Account No. 101- 1510-608100).
9M. CONSIDERATION OF AN IN-LIEU RIGHT-OF-WAY IMPROVEMENT AGREEMENT BETWEEN THE CITY AND KB HOME COASTAL INC., REGARDING LIGHTHOUSE I AND LIGHTHOUSE II PROJECTS IN THE AMOUNT OF $143,712.50 This item relates to a proposed “in-lieu” payment of $143,712.50 by KB Home Coastal, Inc. to the City to cover the developer’s cost to complete certain pavement and traffic signal restoration work along Western Avenue. The public improvements were requirements of the developer’s residential development projects at 7401, 7421, and 7455 Katella Avenue and 10941 and 10921 Western Avenue. If approved, the City would apply the in-lieu fees and apply them towards City street and traffic projects that are planned in the same vicinity.

RECOMMENDED ACTION:

1. City Council declare that the project is exempt from the California Environmental Quality At (“CEQA”) pursuant to State CEQA Guidelines section 15061(b)(5) (organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment); and

2. Authorize the City Manager to approve and execute the proposed In-Lieu Right-OfWay Improvement Agreement between the City of Stanton and KB Home Coastal Inc.

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9N. MAY 2025 GENERAL FUND REVENUE AND EXPENDITURE REPORT; HOUSING AUTHORITY REVENUE AND EXPENDITURE REPORT; STATUS OF CAPITAL

IMPROVEMENT PROGRAM
The Revenue and Expenditure Reports for the month ended May 31, 2025, have been provided to the City Manager in accordance with Stanton Municipal Code Section

2.20.080 (D) and is being provided to the City Council. This report includes information on both the City’s General Fund and the Housing Authority Fund.

RECOMMENDED ACTION:

2. Receive and file the General Fund and Housing Authority Fund May 2025 Revenue and Expenditure Reports and Status of Capital Improvement Projects for the month ended May 31, 2025.

END OF CONSENT CALENDAR

10. PUBLIC HEARINGS
10A. PUBLIC HEARING REGARDING REQUEST TO MODIFY FEE FOR FALSE ALARM

RESPONSES
Consideration of adjusting the False Alarm fee to reflect the current costs of the respective program.

RECOMMENDED ACTION:

1. City Council declare that the project is exempt from the California Environmental Quality Act (“CEQA”) under Section 21080(b)(8) of the Public Resources Code and Sections 15061(b)(3) and 15273(a)(1) of Title 14 of the California Code of Regulations because CEQA applies only to projects which have the potential for causing a significant effect on the environment. Where it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment, the activity is not subject to CEQA; and

2. Conduct a Public Hearing; and

3. Adopt Resolution No. 2025-32 permitting the Sheriff-Coroner Department to increase the False Alarm fee from $141.00 to $209.00, entitled:

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“A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF STANTON, CALIFORNIA, AUTHORIZING THE ORANGE COUNTY SHERIFF’S
DEPARTMENT TO INCREASE ITS FALSE ALARM FEE”.

11. UNFINISHED BUSINESS None.

12. NEW BUSINESS
12A. FISCAL YEAR 2025-26 SENIOR HOME IMPROVEMENT PROGRAM At its Budget Workshop on May 27, 2025, the City Council provided $100,000 in funding for the Fiscal Year 2025-26 Senior Home Improvement Program, including program administration. Tonight’s item seeks Council feedback on essential program elements.

RECOMMENDED ACTION:

2. Provide direction to staff on program elements for the Fiscal Year 2025-26 Senior Home Improvement Program.

13. ORAL COMMUNICATIONS - PUBLIC
At this time members of the public may address the City Council/Successor Agency/Stanton Housing Authority regarding any items within the subject matter jurisdiction of the City Council/Successor Agency/Stanton Housing Authority, provided that NO action may be taken on non-agenda items.
• Members of the public wishing to address the Council/Agency/Authority during Oral Communications-Public or on a particular item are requested to fill out a REQUEST TO SPEAK form and submit it to the City Clerk. Request to speak forms must be turned in prior to Oral Communications-Public.
• When the Mayor/Chairman calls you to the microphone, please state your Name, slowly and clearly, for the record. A speaker’s comments shall be limited to a three (3) minute aggregate time period on Oral Communications and Agenda Items. Speakers are then to return to their seats and no further comments will be permitted. • Remarks from those seated or standing in the back of chambers will not be permitted.

All those wishing to speak including Council/Agency/Authority and Staff need to be recognized by the Mayor/Chairman before speaking.

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14. WRITTEN COMMUNICATIONS None.

15. MAYOR/CHAIRMAN COUNCIL/AGENCY/AUTHORITY INITIATED BUSINESS 15A. COMMITTEE REPORTS/ COUNCIL/AGENCY/AUTHORITY ANNOUNCEMENTS At this time Council/Agency/Authority Members may report on items not specifically described on the agenda which are of interest to the community provided no discussion or action may be taken except to provide staff direction to report back or to place the item on a future agenda.
15B. COUNCIL/AGENCY/AUTHORITY INITIATED ITEMS FOR A FUTURE MEETING At this time Council/Agency/Authority Members may place an item on a future agenda. 15C. COUNCIL/AGENCY/AUTHORITY INITIATED ITEMS FOR A FUTURE STUDY

SESSION
At this time Council/Agency/Authority Members may place an item on a future study session agenda.

Currently Scheduled: None.
15D. CITY COUNCIL INITIATED ITEM — DISCUSSION REGARDING CITYWIDE STREET

SIGN REPLACEMENT PROJECT
At the July 8, 2025, City Council meeting, Council Member Warren requested that this item be agendized for discussion. Council Member Warren is requesting to discuss available fundraising options pertaining to the replacement of City street name signs on principal and collector streets and signalized intersections, including discussions of donating said fundraised monies to various charities/non-profits within the City.

RECOMMENDED ACTION:

City Council provide direction to staff.

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16. ITEMS FROM CITY ATTORNEY/AGENCY COUNSEL/AUTHORITY COUNSEL

17. ITEMS FROM CITY MANAGER/EXECUTIVE DIRECTOR
17A. ORANGE COUNTY FIRE AUTHORITY
At this time the Orange County Fire Authority will provide the City Council with an update on their current operations.

18. ADJOURNMENT
I hereby certify under penalty of perjury under the laws of the State of California, the foregoing agenda was posted at the Post Office, Stanton Community Services Center and City Hall, not less than 72 hours prior to the meeting. Dated this 7th day of August, 2025. s/ Patricia A. Vazquez, City Clerk/Secretary
June 13, 2025 - July 24, 2025
Payments to Vendors:

Paid ACH $ 272,210.31
Check Nos. 139253-139409 © $ 1,641,784.10
Other Electronic Transactions ACH (A) $ 5,136,020.50
Total Payments to Vendors $ 7,050,014.91
Direct Deposit Payments (B):

Payroll dated June 18, 2025 208,378.50
Payroll dated July 3, 2025 163,137.33
Payroll dated July 17, 2025 154,145.85
Total Direct Deposit Payments $ 525,661.68
TOTAL PAYMENTS $ 7,575,676.59
Notes:

A = These are electronic payments processed via a file exported from the City's Finance system and uploaded to the City's bank account. The City's Finance system designates these payment transactions as "ACH". A specific transaction number is not assigned.

B = Represents the total net payroll paid through direct deposit on pay date.

C = Check 139266 was destroyed
Demands listed on the attached
registers are accurate and funds
are available for payment thereof.
/s/ Hannah Shin-Heydorn /s/ Sharon del Rosario

CITY OF STANTON

WARRANT REGISTER
Various
conform to the City of Stanton Annual
Budget as approved by the City Council.

Demands listed on the attached registers
City Manager Finance Director
Item: 9B
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Special and Joint Regular Meeting – July 8, 2025 - Page 1 of 11

THESE MINUTES ARE ISSUED FOR INFORMATION ONLY AND ARE SUBJECT TO

AMENDMENT AND APPROVAL AT NEXT MEETING

MINUTES OF THE CITY COUNCIL / SUCCESSOR AGENCY / HOUSING AUTHORITY OF THE CITY OF STANTON MEETING JULY 8, 2025

SPECIAL CITY COUNCIL / SUCCESSOR AGENCY / HOUSING AUTHORITY MEETING (5:30 PM)

JOINT REGULAR CITY COUNCIL / SUCCESSOR AGENCY / HOUSING AUTHORITY MEETING (6:30 PM)

1. CALL TO ORDER / CLOSED SESSION
The City Council / Successor Agency / Housing Authority meeting was called to order at 5:33 p.m. by Mayor / Chairman Shawver.

2. ROLL CALL

Present: Council/Agency/Authority Member Barrios, Council/Agency/Authority Member Taylor, Council/Agency/Authority Member Warren, Mayor Pro Tem/Vice Chairman Torres, and Mayor/Chairman Shawver.

Absent: None.

Excused: None.

3. PUBLIC COMMENT ON CLOSED SESSION ITEMS None.

4. CLOSED SESSION
The members of the City Council / Successor Agency / Housing Authority of the City of Stanton proceeded to closed session at 5:34 p.m. for discussion regarding:
4A. CONFERENCE WITH LEGAL COUNSEL-ANTICIPATED LITIGATION Significant exposure to litigation pursuant to Government Code Section 54956.9(d)(2)
Number of Potential Cases: 1
4B. PUBLIC EMPLOYEE PERFORMANCE EVALUATION
(Pursuant to Government Code Section 54957.6)
Title: City Attorney

5. CALL TO ORDER / SUCCESSOR AGENCY / STANTON HOUSING AUTHORITY

MEETING
The City Council / Successor Agency / Housing Authority reconvened in open session at 6:37 p.m.

Item: 9C
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6. ROLL CALL

Present: Council/Agency/Authority Member Barrios, Council/Agency/Authority Member Taylor, Council/Agency/Authority Member Warren, Mayor Pro Tem/Vice Chairman Torres, and Mayor/Chairman Shawver.

Absent: None.

Excused: None.

The City Attorney / Agency Counsel reported that the City Council / Successor Agency / Housing Authority met in closed session from 5:34 to 6:37 p.m.

The City Attorney / Agency Counsel reported that there was no reportable action.

7. PLEDGE OF ALLEGIANCE
Led by Mayor Pro Tem Donald Torres.

8. SPECIAL PRESENTATIONS AND AWARDS
A. The City Council proclaimed the month of July 2025, as Parks and Recreation Month within the City of Stanton and presented a proclamation to the City’s Community Services Department, which was accepted by the Sandoval Family, Mr. Francisco Sandoval, Ms. Pearl Sandoval, and Blake and Tyler Sandoval.

B. Presentation by Mr. Eric O’Donnell, Director, Townsend Public Affairs, providing the City Council with an update on State and Federal Legislation.

C. Ms. Hannah Shin-Heydorn, City Manager, presented an update on the City’s homeless outreach activities.

9. CONSENT CALENDAR
Motion/Second: Torres/Barrios
Motion carried by the following vote:

AYES: 5 (Barrios, Shawver, Taylor, Torres, and Warren)
NOES: None
ABSTAIN: None
ABSENT: None
Motion unanimously carried:

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CONSENT CALENDAR
9A. MOTION TO APPROVE THE READING BY TITLE OF ALL ORDINANCES AND RESOLUTIONS. SAID ORDINANCES AND RESOLUTIONS THAT APPEAR ON

THE PUBLIC AGENDA SHALL BE READ BY TITLE ONLY AND FURTHER

READING WAIVED
The City Council/Agency Board/Authority Board waived reading of Ordinances and Resolutions.
9B. APPROVAL OF WARRANTS
The City Council approved demand warrants dated May 30, 2025 – June 12, 2025, in the amount of $3,646,247.36.
9C. APPROVAL OF MINUTES

1. The City Council/Successor Agency/Housing Authority approved Minutes of Special and Joint Regular Meeting – June 24, 2025; and

2. The City Council approved Minutes of Special Meeting – June 26, 2025. 9D. CITY SPONSORSHIP REQUEST – SAINT POLYCARP ANNUAL FIESTA Per the City’s Sponsorship Program, Saint Polycarp is requesting co-sponsorship of the St. Polycarp Family Fiesta scheduled for September 19-21, 2025.

1. The City Council declared this project to be categorically exempt under the California Environmental Quality Act, Class 1, Section 15301c; and

2. Authorized the City to act as a co-sponsor for the 2025 Saint Polycarp Annual Fiesta sponsorship request and received and filed the report. 9E. CONTINUANCE OF THE PROCLAMATION OF THE EXISTENCE OF A LOCAL

EMERGENCY CAUSED BY HOMELESSNESS CRISIS
At its meeting of November 26, 2024, the City Council adopted a resolution proclaiming the existence of a local emergency. Based on the continuing impacts of homelessness on public health and safety within the City of Stanton, the City Council’s proclamation of the existence of a local emergency will continue until further notice.

1. The City Council declared that the proposed actions are not subject to the California Environmental Quality Act (“Public Resources Code section 21000 et seq.) (“CEQA”) because they do not qualify as a “project” under CEQA Receive and file; and

2. Received and filed the report.

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9F. MAY 2025 INVESTMENT REPORT
The Investment Report as of May 31, 2025, has been prepared in accordance with the City’s Investment Policy and California Government Code Section 53646.

1. The City Council finds that this item is not subject to California Environmental Quality Act (“CEQA”) pursuant to Sections 15378(b)(5) (Organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment); and

2. Received and filed the Investment Report for the month of May 2025. 9G. MAY 2025 INVESTMENT REPORT (SUCCESSOR AGENCY)
The Investment Report as of May 31, 2025, has been prepared in accordance with the City’s Investment Policy and California Government Code Section 53646.

1. The Successor Agency finds that this item is not subject to California Environmental Quality Act (“CEQA”) pursuant to Sections 15378(b)(5) (Organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment); and

2. Received and filed the Investment Report for the month of May 2025. 9H. FIRST AMENDMENT TO PROFESSIONAL SERVICES AGREEMENT WITH SP

PLUS FOR PARKING ENFORCEMENT SERVICES
The City Council will consider approval of the First Amendment to the Professional Services Agreement with SP Plus Corporation (SP+) for parking enforcement services to extend the term of the Agreement for 12 months at the same annual compensation amount of $213,087.

1. The City Council finds that this item is not subject to California Environmental Quality Act (“CEQA”) pursuant to Sections 15378(b)(5)(Organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment); and

2. Approved the First Amendment to the existing Professional Services Agreement with SP Plus Corporation to extend the term of the contract by 12 months and increase the total not-to-exceed compensation amount by $213,087 for the new term for a new total not-to-exceed compensation amount of $426,174.

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9I. AWARD OF CONSTRUCTION CONTRACT FOR THE STANTON COMMUNITY / SENIOR CENTER IMPROVEMENTS PROJECT (TASK CODE NO. 2025-601)

AND TRANSFER OF FUNDS
Two bids for the Stanton Community / Senior Center Improvements Project were opened on June 30, 2025. Based on the post-bid analysis of the bids received, staff has determined the bid submitted by A2Z Construct, Inc. to be the lowest responsible and responsive bid at $606,050. At this time, staff is requesting a transfer of funds from within the CIP budget to complete construction of the project and recommending awarding the construction contract to A2Z Construct, Inc.

1. The City Council finds that this project is exempt from the California Environmental Quality Act (“CEQA”), Class 1, Section 15301(a) as operation, repair, and minor interior or exterior alterations of existing public facilities; and

2. Awarded a construction contract for the Stanton Community / Senior Center Improvements Project to A2Z Construct, Inc. for the bid amount of $606,050 and reject all other bids; and

3. Authorized the City Manager to bind the City of Stanton and A2Z Construct, Inc. in a contract for the construction; and

4. Authorized the City Manager to approve contract change orders, not to exceed $30,302.50; and

5. Transfered $56,352.50 from the 2026-602 City Hall / Community Center Keycard Access Project (General Fund #101) to increase the Stanton Community / Senior Center Improvement Project (Task Code No. 2025-601) budget to $676,352.50. 9J. RECEIVE AND FILE CITY OF STANTON QUALIFIED CONTRACTORS LIST FOR

CALIFORNIA UNIFORM PUBLIC CONSTRUCTION COST ACCOUNTING ACT The City of Stanton’s Qualified Contractors List has been prepared in accordance with the California Uniform Public Construction Cost Accounting Act (CUPCCAA) guidelines and associated Public Contract Codes.

1. The City Council declared this action to be categorically exempt under the California Environmental Quality Act, Section 15378(b)(5) (Organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment); and

2. Received and filed the Qualified Contractors List.

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9K. AUTHORITY TO ADVERTISE FOR CONSTRUCTION OF THE FISCAL YEAR (FY) 2025/26 CITYWIDE SIDEWALK REPAIR PROJECT
The plans and specifications for the FY 2025/26 Citywide Sidewalk Repair Project are complete. The City Engineer is recommending City Council approve the specifications and plans for bidding, subject to revision by the City Engineer and the City Attorney, to ensure the construction contract is awarded in an efficient and timely manner. The Project plans and specifications are available in the City Engineer’s Office for review.

1. The City Council finds that this project is exempt from the California Environmental Quality Act (“CEQA”), Class 1, and 15301(c) as repair, maintenance, and minor alteration of existing streets, sidewalks, gutters, and similar facilities; and

2. Approved the bid specifications and plans, subject to revisions required by the City Engineer and the City Attorney; and

3. Authorized and advertised for bids the FY 2025/26 Citywide Sidewalk Repair Project.
9L. ACCEPTANCE OF THE 8880 PACIFIC AVENUE DEMOLITION AND

ABATEMENT PROJECT BY THE CITY COUNCIL OF THE CITY OF STANTON,

CALIFORNIA
The demolition and abatement of the vacant four-unit building located at 8880 Pacific Avenue has been successfully completed. The final construction cost for this portion of the overall project was $75,000. The City Engineer has certified that all work was completed in accordance with project specifications as of June 3, 2025.

Staff recommends the City Council formally accept the completed improvements, approve the final contract amount, and authorize the filing of the Notice of Completion.

1. The City Council finds that the project is categorically exempt from the California Environmental Quality Act (CEQA) pursuant to Section 15301(l)(3), Class 1 – minor alteration and demolition of existing small structures; and

2. Accepted the completed improvements for the 8880 Pacific Avenue Demolition and Abatement Project as certified by the City Engineer, and establish June 3, 2025, as the official date of completion; and

3. Approved the final construction contract amount of $75,000 with Integrated Demolition and Remediation, Inc.; and

4. Directed the City Clerk to file the Notice of Completion with the Orange County Clerk-Recorder within ten (10) days of project acceptance; and DRAFT
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5. Authorized City staff to release the retention payment of $3,750 to Integrated Demolition and Remediation, Inc. following the statutory 35-day lien period after filing of the Notice of Completion.
9M. APPROVAL OF FIRST AMENDMENT EXTENDING THE LETTER AGREEMENT

WITH HARRIS & ASSOCIATES (HARRIS) FOR ANNUAL ADMINISTRATION SERVICES FOR STANTON LIGHTING AND LANDSCAPING DISTRICT NO. 1,

PROTECTIVE SERVICES TAX ROLL, AND SEWER USER FEE SERVICES Staff is seeking City Council approval to extend the term for the professional services letter agreement with Harris & Associates to perform the annual administration services for Stanton Lighting and Landscaping District No. 1, which includes the preparation of the Engineer’s Report, the annual administration for the protective services tax roll and sewer user fee tax roll. The scope of work is for the next two fiscal years (Fiscal Years 2026/27 and 2027/28). Staff believes this term extension is in the best interest of the City and intends to issue a request for proposals (RFP) for a new five-year cycle of tax administration and sewer user fee services after the extension period is completed.

Harris has been providing annual administrative and support services to the City for over 16 years and utilizes their knowledge and experience to provide the City with quality services. The original letter agreement was entered into on February 20, 2024, and expires on August 10, 2025. If approved, this first amendment will extend the term of the agreement through August 10, 2027, and increase the not-to-exceed compensation amount from $34,940 to $71,970.

1. The City Council finds that the project is categorically exempt from the California City Council find that this item is not subject to California Environmental Quality Act (“CEQA”) pursuant to Section 15378(b)(5) (Organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment); and

2. Approved the First Amendment to the existing letter agreement with Harris and Associates extending the term to August 10, 2027 and increasing the associated not-to-exceed compensation amount to seventy-one thousand nine hundred seventy dollars ($71,970); and

3. Authorized the Executive Director/City Manager to execute the First Amendment to the existing letter agreement with Harris and Associates for the annual administration of Stanton Lighting and Landscaping District No. 1, protective services tax roll, and sewer user fee tax roll for Fiscal Years 2026-27 and 2027-

28. END OF CONSENT CALENDAR
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10. PUBLIC HEARINGS
10A. PUBLIC HEARING RELATIVE TO PLACING THE ANNUAL SEWER SERVICE

CHARGE FOR SEWER SERVICES ON THE PROPERTY TAX ROLL FOR FISCAL YEAR 2025/26
On June 10, 2025, the City held a noticed public hearing in compliance with Proposition 218 and adopted the Annual Sewer Service Charges for Fiscal Years 2025/26 through 2029/30 with Ordinance No. 1068. Council adopted new annual sewer service rates on June 10, 2025 based on the Comprehensive Sewer Utility Rate Study report that was approved by Council on March 25, 2025. These new rates are effective July 1, 2025. The purpose of this noticed public hearing is to confirm the report prepared by the City’s consultant Harris & Associates and to seek City Council approval to request the Orange County Auditor-Controller place the Annual Service Charge on the property tax roll for Fiscal Year 2025/26. The Sewer Service Charge Report (“Report”) prepared by the Consultant identifies each parcel subject to the Annual Sewer Service Charge for Fiscal Year 2025/26 (Exhibit A of Attachment A).

Staff report by Ms. Sharon del Rosario, Finance Director.

The public hearing was opened.

Mr. Blake Perez, representative, Southern California Gas Company, introduced himself to the City Council and the Stanton community and spoke regarding the national “Contact 811 Before You Dig” DigAlert program for safe excavation.

No one else appearing to speak, the public hearing was closed.

Motion/Second: Taylor/Torres
ROLL CALL VOTE: Council Member Barrios NO
Council Member Taylor AYE
Council Member Warren AYE
Mayor Pro Tem Torres AYE
Mayor Shawver AYE
Motion carried:

1. The City Council finds that this item is not subject to California Environmental Quality Act (“CEQA”) pursuant to Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and 15060(c)(3) (the activity is not a project as defined in Section 15378(b)(4) of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3, because it has no potential for resulting in physical change to the environment, directly, or indirectly); and
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2. Conducted a public hearing concerning the placement of the Annual Sewer Service Charge on the property tax roll for Fiscal Year 2025/26; and

3. Adopted Resolution No. 2025-25, directing the Orange County Auditor-Controller to place the Annual Sewer Service Charge on the property tax roll for Fiscal Year 2025/26, entitled:
“A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

STANTON, CALIFORNIA, ESTABLISHING RATES FOR THE

ANNUAL SEWER SERVICE CHARGE FOR SEWER SERVICES
FOR FISCAL YEAR 2025/26”.

11. UNFINISHED BUSINESS None.

12. NEW BUSINESS
12A. THIRD AMENDMENT TO CITY MANAGER EMPLOYMENT AGREEMENT AND

RESOLUTION REGARDING AMENDMENT TO SALARY RATES
For consideration is the Third Amendment to the Employment Agreement between the City and Hannah Shin-Heydorn regarding the position of City Manager. If the amendment is approved, then the City Council should accordingly amend the City’s salary rates resolution.

Staff report by Ms. HongDao Nguyen, City Attorney.

Motion/Second: Shawver/Warren
Motion carried by the following vote:

AYES: 5 (Barrios, Shawver, Taylor, Torres, and Warren)
NOES: None
ABSTAIN: None
ABSENT: None
Motion unanimously carried:

1. The City Council declared that the project is exempt from the California Environmental Quality Act (“CEQA”) under Section 15378(b)(2) - continuing administrative or maintenance activities, such as purchase of supplies, personnel-related actions, general policy, and procedures making, and

2. Authorized the Mayor to approve and execute the Third Amendment to Employment Agreement with Hannah Shin-Heydorn, and

3. Adopted Resolution No. 2025-29 amending the Salary Rates, entitled:

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“A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

STANTON, CALIFORNIA, REGARDING EMPLOYEE BENEFITS
AND SALARY RATES FOR ALL CLASSES OF EMPLOYMENT”.

13. ORAL COMMUNICATIONS – PUBLIC
• Ms. Daisy Marquez, resident, spoke regarding the concerns of her community and their feelings of isolation and safety pertaining to ICE activities within Stanton. Additionally, Ms. Marquez questioned why the City has yet to issue any statement and/or response in regard to this matter and stated that this matter requires the attention and action of their leadership. Ms. Marquez proposed the following questions to the City Council: “Why has there been no public statement from the City Stanton addressing the immigration rates and intimidation tactics.”, “Are there plans for Stanton to implement immigration support initiatives”, “If not, why not?”, and “What steps is the City willing to take to ensure that all residents, regardless of their immigration status feels safe, protected, and supported.” • Ms. Amy McBride, resident, spoke regarding their communities experiencing an increase in crime and requested that the City implement a more lasting solution, stronger and more visible law enforcement presence, conduct a review of how dispatch calls from their area are managed, and create long-term safety improvements (better lighting, traffic measures, and additional youth programs).

Ms. McBride further stated that the community would like to work with the City and law enforcement for lasting solutions to assist in minimizing these crimes and making their streets safer.
• Ms. Nikki Jackson, resident, spoke regarding their communities experiencing an increase in crime (trafficking, prostitution, drug transactions, gambling homes, and transients) and inquired as to what the City’s plan is to eradicate and/or assist in minimizing these crimes within her neighborhood.

14. WRITTEN COMMUNICATIONS None.

15. MAYOR/CHAIRMAN/COUNCIL/AGENCY/AUTHORITY INITIATED BUSINESS 15A. COMMITTEE REPORTS/COUNCIL/AGENCY/AUTHORITY ANNOUNCEMENTS None.
15B. COUNCIL/AGENCY/AUTHORITY INITIATED ITEMS FOR A FUTURE COUNCIL

MEETING
Council Member Warren, requested to research available fundraising options pertaining to the old street signs that are currently being removed and replaced with the newly branded street signs, including discussion of donating said fundraised monies to various charities/non-profits within the City.

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15C. COUNCIL/AGENCY/AUTHORITY INITIATED ITEMS FOR A FUTURE STUDY

SESSION
None.

16. ITEMS FROM CITY ATTORNEY/AGENCY COUNSEL/AUTHORITY COUNSEL None.

17. ITEMS FROM CITY MANAGER/EXECUTIVE DIRECTOR
None.
17A. ORANGE COUNTY FIRE AUTHORITY
At this time the Orange County Fire Authority will provide the City Council with an update on their current operations.

Division Chief Matthew Schuetz provided the City Council with an update on their current operations.

18. ADJOURNMENT Motion/Second: Shawver/
Motion carried at 7:32 p.m.
________________________________

MAYOR/CHAIRMAN
ATTEST:
________________________________

CITY CLERK/SECRETARY
1 CITY OF STANTON

REPORT TO THE CITY COUNCIL
TO: Honorable Mayor and Members of the City Council
DATE: August 12, 2025
SUBJECT: JUNE 2025 INVESTMENT REPORT
REPORT IN BRIEF:

The Investment Report as of June 30, 2025, has been prepared in accordance with the City’s Investment Policy and California Government Code Section 53646.

RECOMMENDED ACTION:

2. Receive and file the Investment Report for the month of June 2025.

BACKGROUND:

Changes in the City’s cash and investment balances during the month of June are summarized below:

Between May 31, 2025, and June 30, 2025, the City’s total cash and investments increased by approximately $405,352.

The City’s cash and investment balances by fund type are presented in Attachment A.

The detail of investments by type that are managed by Chandler Asset Management, LLC (“Chandler”), of which staff determined provide a net advantage to the City, are presented in Attachment B.

Beginning Balance Net Change Ending Balance
Cash and Investment Accounts (Pooled-All Funds) $ 75,288,791.88 $ 256,646.77 $ 75,545,438.65 Cash (Non-Pooled) 5,116,518.33 148,705.25 5,265,223.58
Total Cash and Investments $ 80,405,310.21 $ 405,352.02 $ 80,810,662.23 Item: 9D
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2 ANALYSIS:

The monthly cash and investment report provides a summary of the cash and investment accounts held by the City as of the end of that month. In order to manage its cash and investments, the City combines cash resources from all funds into a single pool consisting of a variety of accounts and securities. The balance in the pooled cash account includes cash and certain liquid investments that are available to meet the City’s current cash needs. Cash in excess of the City’s current cash needs is invested in interest-bearing investments with various maturities.

As of June 30, 2025, the market value of the City’s total investment portfolio was $72.3 million, of which $32.9 million (45%) was invested in the State Local Agency Investment Fund (LAIF) and $39.4 million (55%) was managed by Chandler. Detailed information regarding the securities contained in the City’s investment portfolio is provided in Attachment B. As of June 30, 2025, City investments consisted of the following:

The City’s investment portfolio is well-diversified with investments spread across nine different security types. Likewise, the average maturity of the City’s portfolio (except for LAIF) is approximately 3.0 years, which is within the 3.5 years target in the City’s investment policy.

FISCAL IMPACT:

All deposits and investments have been made in accordance with the City's Fiscal Year 2024/25 Investment Policy. The portfolio will allow the City to meet its expenditure requirements for the next six months. Staff remains confident that the investment portfolio is currently positioned to remain secure and sufficiently liquid.

Investment Type
Market Value as of
June 30, 2025
Percentage of
Portfolio Invested
by Type
Maximum
Percentage of
Portfolio
Permitted by
Investment Policy In Compliance?
Managed by Chandler:

U.S. Treasury Notes $ 14,917,021.17 20.63% 100.00% Yes
Corporate Notes 9,908,501.64 13.70% 30.00% Yes
Federal Agency Securities 5,565,314.43 7.70% 100.00% Yes Asset Backed Securities 2,631,207.00 3.64% 20.00% Yes
Collateralized Mortgage Obligations 4,672,414.17 6.46% 20.00% Yes Supranational 1,100,459.52 1.52% 30.00% Yes
Municipal Bonds 402,009.28 0.56% 100.00% Yes
Money Market Fund/Cash 242,409.33 0.34% 20.00% Yes
Total Managed by Chandler (Attachment B) 39,439,336.54 54.54% Local Agency Investment Fund (LAIF) 32,874,457.21 45.46% 100.00% Yes Total Investments $ 72,313,793.75 100.00%
3 ENVIRONMENTAL IMPACT:

None.

LEGAL REVIEW:

None.

PUBLIC NOTIFICATION:

Through the normal agenda posting process.

STRATEGIC GOAL:

Goal 4. Ensure fiscal stability.

Prepared by: Sharon del Rosario, Finance Director
Approved by: Hannah Shin-Heydorn, City Manager
ATTACHMENTS:

A. Cash and Investment Balances by Fund
B. Investment Portfolio Detail
Fund/ Account
No. Fund/Account Name Beginning Balance Increases Decreases Ending Balance 101-various General Fund $ 41,854,528.13 $ 3,470,628.26 $ (3,404,044.80) $ 41,921,111.59 102-111101 General Fund (Transactions & Use Tax) (946,115.90) 1,459,211.11 (555,039.21) (41,944.00) 103-111101 PCTA Administration (6,690.97) 383.95 (5,290.06) (11,597.08) 104-111101 Public Benefit Fees Fund 2,469,233.42 748.000 (4,905.07) 2,465,076.35 105-111101 Beautification Fees Fund 240,000.00 - - 240,000.00 106-111101 Neighborhood Preservation Fees Fund 114,000.00 - - 114,000.00 107-111101 Cannabis Community Benefit Fees Fund 175,975.85 67,122.35 (11,194.81) 231,903.39 210-111101 Certified Access Specialists (CASP) Program Fund 77,929.86 1,053.360 - 78,983.22 211-111101 Gas Tax Fund 2,997,552.03 241,020.33 (563,134.99) 2,675,437.37 215-111101 Road Maintenance and Rehabilitation Act (RMRA) Fund 1,791,361.15 208,323.81 (844,723.84) 1,154,961.12 220-111101 Measure M Fund 1,389,728.53 144,416.210 (818,270.10) 715,874.64 221-111101 Community Development Block Grant-CV (CDBG-CV) Fund 99,432.68 - (46,379.91) 53,052.77 222-111101 Community Development Block Grant Fund 175,881.37 2,184.280 (2,735.000) 175,330.65 224-111101 Lighting Maintenance 1919 Act Fund 1,557,160.64 23,411.54 (22,554.73) 1,558,017.45 225-111101 Lighting/Median Maintenance 1972 Act Fund 778,050.51 31,724.64 (59,451.86) 750,323.29 226-111101 Air Quality Improvement Fund 187,127.21 15,554.040 (96.73) 202,584.52 227-111101 Other Grants Fund (304,131.13) 23,498.95 (14,512.76) (295,144.94) 242-111101 Supplemental Law Enforcement Grant Fund 328,005.98 3,852.700 (47,283.33) 284,575.35 245-111101 Justice Assistance Grant (JAG) Grant Fund (341.20) 616,718.99 (616,968.06) (590.27) 250-111101 Families and Communities Together (FaCT) Grant Fund (51,703.96) 51,135.36 (41,066.36) (41,634.96) 251-111101 Senior Transportation Fund 149,200.39 10,088.570 (9,914.28) 149,374.68 261-111101 Street Impact Fees Fund 266,137.54 5,975.56 (912.000) 271,201.10 262-111101 Traffic Signal Impact Fee 34,151.73 1,027.88 (204.000) 34,975.61 263-111101 Community Center Impact Fees Fund 297,478.24 5,390.18 (590.000) 302,278.42 264-111101 Police Services Impact Fees Fund 268,889.19 4,874.27 (534.000) 273,229.46 271-111101 Public Safety Task Force Fund (City Funds) 114,084.48 - (6,202.19) 107,882.29 280-111101 Stanton Central Park Maintenance Fund 14,053.96 9,064.58 (11,484.26) 11,634.28 285-various Stanton Housing Authority Fund 7,414,997.14 14,059.28 (143,953.72) 7,285,102.70 305-111101 Capital Projects Fund (46,492.16) 1,954,932.38 (1,259,271.26) 649,168.96 310-111101 Park and Recreation Facilities Fund 3,120,794.41 85,163.92 (9,509.720) 3,196,448.61 501-111101 Sewer Maintenance Fund 8,823,020.93 143,131.46 (56,595.99) 8,909,556.40 502-111101 Sewer Capital Improvement Fund 15,528.90 188.910 - 15,717.81 602-111101 Workers' Compensation Fund 845,533.16 20,586.39 (4,019.01) 862,100.54 603-111101 Liability Risk Management Fund 48,874.39 13,337.76 (13,337.76) 48,874.39 604-111101 Employee Benefits Fund 317,210.90 265,662.55 (64,666.45) 518,207.00 605-111101 Fleet Maintenance Fund 661,011.26 25,827.49 (10,502.31) 676,336.44

CITY OF STANTON

CASH AND INVESTMENTS REPORT
MONTH ENDED JUNE 30, 2025
Attachment: A
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Subject to Change due to
Year-End Close in process
Fund/ Account
No. Fund/Account Name Beginning Balance Increases Decreases Ending Balance

CITY OF STANTON

CASH AND INVESTMENTS REPORT
MONTH ENDED JUNE 30, 2025
801-111101 Developer Deposits Fund 17,333.22 1,000.00 (1,746.65) 16,586.57 Total Pooled Cash and Investments(1) $ 75,288,791.88 $ 8,929,453.88 $ (8,672,807.11) $ 75,545,438.65 Less: Investments(1) $ (72,003,610.94) $ (313,531.68) $ 3,348.88 $ (72,313,793.74) Cash - BMO Bank General Checking Account $ 3,285,180.94 $ 8,615,922.20 $ (8,669,458.23) $ 3,231,644.91

CASH-NON-POOLED
xxx-111103 Payroll Account $ - $ 523,644.45 $ (523,644.45) $ - 101-111109 Flexible Spending/AFLAC 3,495.56 218.120 - 3,713.68 101-111505 Petty Cash 600.00 - - 600.00
285-111403 Cash with Property Management Company (QMG) 85,422.17 (1,702.130) - 83,720.04 604-111404 Cash with Fiscal Agent (PARS) (2) 5,027,000.60 152,614.81 (2,425.55) 5,177,189.86 Total Cash-Non-Pooled $ 5,116,518.33 $ 676,477.38 $ (527,772.13) $ 5,265,223.58

INVESTMENTS
POOLED ALL FUNDS $ 72,003,610.94 $ 313,531.68 $ (3,348.88) $ 72,313,793.74 Total Investments (3) $ 72,003,610.94 $ 313,531.68 $ (3,348.88) $ 72,313,793.74 TOTAL CASH AND INVESTMENTS $ 80,405,310.21 $ 9,605,931.26 $ (9,200,579.24) $ 80,810,662.23 Notes:
(3) - Additional information regarding the City's investments is included in Attachment B. (1) - Pooled cash includes: City's general checking and safekeeping accounts with BMO Harris Bank, the City's Local Agency Investment Fund (LAIF) account, the Housing Authority's LAIF account, and the City's investment portfolio account with Chandler Asset Management. (2) - The Public Agency Retirement Services (PARS) account is an irrevocable trust that can be used for pension and other post employment benefits only. This fund is excluded from the compliance requirements set forth in the City's investment policy.

MONTHLY ACCOUNT STATEMENT
City of Stanton | Account #10991 | As of June 30, 2025
CHANDLER ASSET MANAGEMENT | chandlerasset.com
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 at the end of the statement.

Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian:

US Bank
Attachment: B
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PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Performance Review
Account Summary
Maturity Distribution
Top Issuers
Credit Quality (S&P)
Total Rate of Return** 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS Since Inception (12/01/22)
City of Stanton 0.78% 1.51% 3.62% 6.22% 5.43% -- -- -- 4.75% Benchmark Return 0.74% 1.36% 3.39% 6.06% 5.11% -- -- -- 4.35% Average Modified Duration 2.55
Average Coupon 3.97%
Average Purchase YTM 4.35%
Average Market YTM 4.00%
Average Credit Quality* AA+
Average Final Maturity 2.99
Average Life 2.63
End Values as of
05/31/2025
End Values as of
06/30/2025
Market Value 39,140,617.10 39,439,336.53
Accrued Interest 350,710.52 357,388.46
Total Market Value 39,491,327.61 39,796,724.99
Income Earned 94,495.65 166,478.15
Cont/WD 0.00 0.00
Par 39,204,614.61 39,323,475.29
Book Value 38,630,134.13 38,749,318.46
Cost Value 38,630,134.13 38,749,318.46
Government of The United States 37.82%
FHLMC 11.85%
Farm Credit System 8.74%
Federal Home Loan Banks 3.76%
Toyota Motor Corporation 2.01%
FNMA 1.61%
Bank of America Corporation 1.59%
John Deere Owner Trust 1.49%
**Periods over 1 year are annualized.

Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index Secondary Benchmark:
*The average credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES (CMOS)
Max % (MV) 100.0 11.8 Compliant
Max % Issuer (MV) 25.0 11.8 Compliant
Max Maturity (Years) 5.0 3.9 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV; Non Agency ABS & MBS) 20.0 6.7 Compliant
Max % Issuer (MV) 5.0 1.1 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE (CDARS)
Max % (MV) 30.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED BANK DEPOSITS
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 25.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 25.1 Compliant
Max % Issuer (MV) 5.0 2.0 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant
CONFIDENTIAL | 4
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE CD/
TD)
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant

FEDERAL AGENCIES
Max % (MV) 100.0 14.1 Compliant
Max % Issuer (MV) 25.0 8.7 Compliant
Max Callables (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5 3 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 0.6 Compliant
Max % Issuer (MV) 20.0 0.6 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

MORTGAGE-BACKED SECURITIES (NON-AGENCY)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 30.0 1.0 Compliant
Max % Issuer (MV) 5.0 1.0 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
CONFIDENTIAL | 5
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 2.8 Compliant
Max % Issuer (MV) 10.0 1.2 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 37.8 Compliant
Max Maturity (Years) 5 4 Compliant
CONFIDENTIAL | 6
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

RECONCILIATION SUMMARY
Accrual Activity Summary
Fair Market Activity Summary
Month to Date Fiscal Year to Date
(07/01/2024)
Beginning Book Value 38,630,134.13 26,329,358.87
Maturities/Calls 0.00 (850,000.00)
Principal Paydowns (78,286.30) (935,987.05)
Purchases 337,787.84 36,742,606.54
Sales (103,050.21) (22,614,648.18)
Change in Cash, Payables, Receivables (37,592.85) (31,019.18) Amortization/Accretion 0.00 0.00
Realized Gain (Loss) 325.85 109,007.45
Ending Book Value 38,749,318.46 38,749,318.46
Month to Date Fiscal Year to Date
(07/01/2024)
Beginning Market Value 39,140,617.10 26,279,060.77
Maturities/Calls 0.00 (850,000.00)
Principal Paydowns (78,286.30) (935,987.05)
Purchases 337,787.84 36,742,606.54
Sales (103,050.21) (22,614,648.18)
Change in Cash, Payables, Receivables (37,592.85) (31,019.18) Amortization/Accretion 0.00 0.00
Change in Net Unrealized Gain (Loss) 179,535.11 740,316.17 Realized Gain (Loss) 325.85 109,007.45
Ending Market Value 39,439,336.53 39,439,336.53
Maturities / Calls
Month to Date 0.00
Fiscal Year to Date (850,000.00)
Principal Paydowns
Month to Date (78,286.30)
Fiscal Year to Date (935,987.05)
Purchases
Month to Date 337,787.84
Fiscal Year to Date 36,742,606.54
Sales
Month to Date (103,050.21)
Fiscal Year to Date (22,614,648.18)
Interest Received
Month to Date 159,800.21
Fiscal Year to Date 1,418,721.02
Purchased / Sold Interest
Month to Date 0.00
Fiscal Year to Date (38,571.56)
CONFIDENTIAL | 7
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

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

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
43815PAC3 HAROT 2022-2 A3 3.73
07/20/2026 67,897.55 09/21/20224.08%
67,048.83
67,048.83

99.86 4.53%
67,803.29

91.45 0.17%
754.46
NA/AAA
AAA

1.05 0.18
89238FAD5 TAOT 2022-B A3 2.93
09/15/2026 51,362.19 09/13/20223.53%
50,218.58
50,218.58

99.75 4.58%
51,233.89

66.89 0.13%
1,015.31
Aaa/AAA
NA

1.21 0.15
47800BAC2 JDOT 2022-C A3 5.09
06/15/2027 42,482.84 10/12/20225.09%
42,479.55
42,479.55
100.27

4.59%
42,596.83

96.11 0.11%
117.28
Aaa/NA
AAA

1.96 0.48
58770JAD6 MBALT 2024-A A3 5.32
01/18/2028 70,000.00 05/17/20245.32%
69,991.81
69,991.81
101.22

4.38%
70,854.92
165.51

0.18%
863.11
Aaa/NA
AAA

2.55 1.22
44933XAD9 HART 2023-B A3 5.48
04/17/2028 433,105.49 07/11/20245.27%
435,423.28
435,423.28
100.64

4.50%
435,884.30
1,054.85

1.11%
461.01
NA/AAA
AAA

2.80 0.61
47787CAC7 JDOT 2023-C A3 5.48
05/15/2028 291,073.79 12/05/20235.08%
294,098.23
294,098.23
100.86

4.51%
293,589.25
708.93

0.74%
(508.98)
Aaa/NA
AAA

2.88 0.83
096912AD2 BMWLT 2025-1 A3 4.43
06/26/2028 100,000.00 06/03/20254.43%
99,997.80
99,997.80
100.57

4.16%
100,572.28
258.42

0.26%
574.48
NA/AAA
AAA

2.99 1.80
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 280,000.00 09/07/2023

5.23%
279,922.38
279,922.38
101.16

4.21%
283,235.93
642.13

0.72%
3,313.55
NA/AAA
AAA

3.21 1.14
448973AD9 HART 2024-A A3 4.99
02/15/2029 85,000.00 03/11/20245.00%
84,981.26
84,981.26
100.90

4.26%
85,764.07
188.51

0.22%
782.81
NA/AAA
AAA

3.63 1.14
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 120,000.00 06/04/20245.18%
119,981.77
119,981.77
101.26

4.11%
121,512.96
103.60

0.31%
1,531.19
Aaa/AAA
NA

3.66 1.12
47786WAD2 JDOT 2024-B A3 5.2 03/15/2029 65,000.00 06/11/2024

5.20%
64,987.29
64,987.29
101.58

4.24%
66,026.60
150.22

0.17%
1,039.31
Aaa/NA
AAA

3.71 1.54
02582JKH2 AMXCA 2024-1 A 5.23
04/16/2029 110,000.00 04/16/20245.23%
109,977.45
109,977.45
102.00

4.11%
112,196.43
255.69

0.28%
2,218.98
NA/AAA
AAA

3.79 1.67
05522RDJ4 BACCT 2024-1 A 4.93
05/15/2029 135,000.00 06/06/20244.93%
134,992.43
134,992.43
101.48

4.14%
136,999.77
295.80

0.35%
2,007.34
Aaa/AAA
NA

3.87 1.75
89239TAD4 TAOT 2024-D A3 4.4 06/15/2029 120,000.00 10/10/2024

4.40%
119,993.30
119,993.30
100.42

4.15%
120,506.15
234.67

0.31%
512.85
Aaa/AAA
NA

3.96 1.44
47800DAD6 JDOT 2025 A3 4.23 09/17/2029 185,000.00 03/04/2025

4.23%
184,988.36
184,988.36
100.25

4.16%
185,456.88
347.80

0.47%
468.52
Aaa/NA
AAA

4.22 2.18
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029 210,000.00 10/17/20244.29%
209,968.79
209,968.79
100.47

4.11%
210,987.21
400.40

0.53%
1,018.42
Aaa/AAA
NA

4.29 2.14
437921AD1 HAROT 252 A3 4.15 10/15/2029 125,000.00 04/29/2025

4.15%
124,986.04
124,986.04
100.20

4.09%
125,247.90
230.56

0.32%
261.86
Aaa/NA
AAA

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

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
89231HAD8 TAOT 2025-B A3 4.34
11/15/2029 120,000.00 04/24/20254.34%
119,993.12
119,993.12
100.62

4.08%
120,738.34
231.47

0.31%
745.22
NA/AAA
AAA

4.38 2.02
Total ABS 2,610,921.87 4.82%
2,614,030.28
2,614,030.28
100.78

4.28%
2,631,207.00
5,523.00

6.67%
17,176.72

3.37 1.31
AGENCY
3133ERKR1

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.625
07/10/2026
650,000.00 07/19/2024

4.54%
650,981.50
650,981.50
100.59

4.03%
653,863.55
14,279.69

1.66%
2,882.05
Aa1/AA+
AA+

1.03 0.97
3135G0Q22 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 1.875 09/24/2026 650,000.00 09/14/20223.73% 605,208.50
605,208.50

97.46 4.01%
633,484.65
3,283.85

1.61%
28,276.15
Aa1/AA+
AA+

1.24 1.19
3133ERFJ5 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 05/20/2027 450,000.00 05/23/20244.80%
446,330.25
446,330.25
101.30

3.78%
455,865.22
2,306.25

1.16%
9,534.97
Aa1/AA+
AA+

1.89 1.79
3133ERMB4 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.25 07/23/2027 650,000.00 07/18/20244.26% 649,798.50
649,798.50
100.79

3.85%
655,103.14
12,124.31

1.66%
5,304.64
Aa1/AA+
AA+

2.06 1.92
3130ATS57 FEDERAL HOME LOAN BANKS 4.5
03/10/2028 500,000.00 03/22/20234.04%
510,315.00
510,315.00
101.97

3.72%
509,846.53
6,937.50

1.29%
(468.47)
Aa1/AA+
AA+

2.70 2.49
3133EPGW9

FEDERAL FARM CREDIT
BANKS FUNDING CORP 3.875
04/25/2028
250,000.00 04/24/2023

3.76%
251,255.00
251,255.00
100.16

3.81%
250,400.05
1,776.04

0.63%
(854.95)
Aa1/AA+
AA+

2.82 2.63
3130AWTR1 FEDERAL HOME LOAN BANKS

4.375 09/08/2028 300,000.00 09/13/20234.48%
298,555.11
298,555.11
101.97

3.71%
305,897.84
4,119.79

0.78%
7,342.73
Aa1/AA+
AA+

3.19 2.92
3133EPWK7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 09/22/2028 500,000.00 09/25/20234.67%
496,185.00
496,185.00
102.15

3.78%
510,768.78
6,187.50

1.30%
14,583.78
Aa1/AA+
AA+

3.23 2.95
3130AXQK7 FEDERAL HOME LOAN BANKS

4.75 12/08/2028 650,000.00 12/07/20234.18%
666,646.50
666,646.50
102.89

3.84%
668,781.07
1,972.57

1.70%
2,134.57
Aa1/AA+
AA+

3.44 3.15
3133ERAK7

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.375
04/10/2029
400,000.00 04/08/2024

4.48%
398,068.00
398,068.00
101.63

3.90%
406,532.24
3,937.50

1.03%
8,464.24
Aa1/AA+
AA+

3.78 3.42
3133ERDH1 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.75 04/30/2029 500,000.00 05/08/20244.55% 504,355.00
504,355.00
102.95

3.91%
514,771.38
4,024.31

1.31%
10,416.38
Aa1/AA+
AA+

3.83 3.46
Total Agency 5,500,000.00 4.32%
5,477,698.36
5,477,698.36
101.21

3.86%
5,565,314.43
60,949.31

14.11%
87,616.07

2.55 2.35

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

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3137BTUM1 FHMS K-061 A2 3.347
11/25/2026 337,005.12 09/22/20224.23%
324,907.17
324,907.17

98.83 4.13%
333,059.23
939.96

0.84%
8,152.06
Aa1/AA+
AAA

1.41 1.26
3137BVZ82 FHMS K-063 A2 3.43 01/25/2027 350,000.00 09/13/2022

3.97%
342,412.11
342,412.11

98.81 4.16%
345,840.46
1,000.42

0.88%
3,428.35
Aa1/AA+
AAA

1.57 1.36
3137F2LJ3 FHMS K-066 A2 3.117
06/25/2027 350,000.00 09/13/20223.97%
337,640.63
337,640.63

98.23 4.04%
343,804.20
909.13

0.87%
6,163.57
Aa1/AA+
AAA

1.99 1.74
3137FAWS3 FHMS K-067 A2 3.194
07/25/2027 310,000.00 09/22/20224.28%
295,856.25
295,856.25

98.22 4.04%
304,495.98
825.12

0.77%
8,639.73
Aaa/AA+
AA+

2.07 1.91
3137FBU79 FHMS K-069 A2 3.187
09/25/2027 490,682.97 05/18/20234.13%
471,343.16
471,343.16

98.15 4.01%
481,600.97
1,303.17

1.22%
10,257.81
Aa1/AAA
AA+

2.24 2.06
3137FG6X8 FHMS K-077 A2 3.85 05/25/2028 510,000.00 05/24/2023

4.65%
500,636.72
500,636.72

99.43 4.00%
507,110.34
1,636.25

1.29%
6,473.62
Aa1/AA+
AAA

2.90 2.62
3137FKSH0 FHMS K-086 A2 3.859
11/25/2028 500,000.00 07/18/20244.47%
486,640.63
486,640.63

99.34 4.02%
496,683.00
1,607.92

1.26%
10,042.37
Aaa/AA+
AA+

3.41 3.09
3137FKUP9 FHMS K-087 A2 3.771
12/25/2028 400,000.00 06/05/20244.64%
384,812.50
384,812.50

99.12 4.01%
396,487.68
1,257.00

1.01%
11,675.18
Aa1/AAA
AA+

3.49 3.04
3137H5YC5 FHMS K-748 A2 2.26 01/25/2029 525,000.00 10/17/2024

4.18%
485,030.27
485,030.27

94.13 4.06%
494,174.47
988.75

1.25%
9,144.20
Aa1/AA+
AAA

3.57 3.28
3137FLMV3 FHMS K-090 A2 3.422
02/25/2029 400,000.00 07/08/20244.57%
380,031.25
380,031.25

97.84 4.04%
391,353.44
1,140.67

0.99%
11,322.19
Aa1/AAA
AA+

3.66 3.32
3137FLYV0 FHMS K-092 A2 3.298
04/25/2029 250,000.00 05/30/20244.85%
232,578.13
232,578.13

97.28 4.05%
243,192.75
687.08

0.62%
10,614.62
Aa1/AA+
AAA

3.82 3.46
3137FMCR1 FHMS K-093 A2 2.982
05/25/2029 347,455.99 09/19/20243.76%
335,213.60
335,213.60

96.30 4.05%
334,611.66
863.43

0.85%
(601.94)
Aa1/AA+
AAA

3.90 3.40
Total Agency CMBS 4,770,144.09 4.31%
4,577,102.42
4,577,102.42

97.98 4.05%
4,672,414.17
13,158.89

11.85%
95,311.75

2.86 2.58
CASH
CCYUSD Receivable 471.20 -- 471.20
471.20

1.00 0.00%
471.20

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 471.20
471.20
471.20

1.00 0.00%
471.20

0.00 0.00%

0.00 0.00

0.00 CORPORATE
24422EWJ4 JOHN DEERE CAPITAL CORP 4.05
09/08/2025 125,000.00 09/21/20224.36%
123,933.75
123,933.75

99.91 4.49%
124,885.08
1,589.06

0.32%
951.33
A1/A
A+

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

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
713448FQ6 PEPSICO INC 4.55 02/13/2026 65,000.00 02/13/2023

4.57%
64,962.30
64,962.30
100.07

4.43%
65,045.68
1,133.71

0.16%

83.38 A1/A+
NA

0.62 0.51
61747YET8 MORGAN STANLEY 4.679
07/17/2026 200,000.00 09/13/20225.38%
199,302.00
199,302.00

99.98 6.05%
199,969.06
4,263.09

0.51%
667.06
A1/AA+1.05

0.04 06406RBJ5 BANK OF NEW YORK MELLON
CORP 4.414 07/24/2026 350,000.00 --5.12%
348,501.00
348,501.00

99.96 5.73%
349,848.55
6,737.48

0.89%
1,347.55
Aa3/A
AA1.070.06
74340XBK6 PROLOGIS LP 3.25 10/01/2026 250,000.00 09/14/2022

4.30%
240,397.50
240,397.50

98.84 4.21%
247,099.01
2,031.25

0.63%
6,701.51
A2/A
NA

1.25 1.20
26442CAS3 DUKE ENERGY CAROLINAS LLC

2.95 12/01/2026 250,000.00 09/16/20224.31%
237,035.00
237,035.00

98.37 4.15%
245,923.00
614.58

0.62%
8,888.00
Aa3/A
NA

1.42 1.37
17275RBQ4 CISCO SYSTEMS INC 4.8
02/26/2027 300,000.00 07/08/20244.74%
300,429.00
300,429.00
101.21

4.03%
303,637.97
5,000.00

0.77%
3,208.97
A1/AANA1.66

1.48 857477CL5 STATE STREET CORP 4.993
03/18/2027 300,000.00 03/13/20244.99%
300,000.00
300,000.00
101.45

4.11%
304,341.69
4,285.66

0.77%
4,341.69
Aa3/A
AA1.711.53
46647PCB0 JPMORGAN CHASE & CO 1.578
04/22/2027 250,000.00 09/15/20225.37%
221,377.50
221,377.50

97.68 4.95%
244,206.35
756.13

0.62%
22,828.85
A1/A
AA1.810.79
91324PEG3 UNITEDHEALTH GROUP INC 3.7
05/15/2027 250,000.00 09/13/20224.21%
244,607.50
244,607.50

99.09 4.21%
247,721.83
1,181.94

0.63%
3,114.33
A2/A+
A

1.87 1.78
61747YEC5 MORGAN STANLEY 1.512
07/20/2027 250,000.00 09/15/20225.32%
219,305.00
219,305.00

97.01 4.85%
242,514.98
1,690.50

0.61%
23,209.98
A1/AA+2.05

1.02 06051GJS9 BANK OF AMERICA CORP 1.734
07/22/2027 250,000.00 09/15/20225.49%
219,722.50
219,722.50

97.20 4.91%
242,994.70
1,914.63

0.62%
23,272.20
A1/AAA2.06

1.02 09290DAH4 BLACKROCK INC 4.6 07/26/2027 475,000.00 07/18/2024

4.57%
475,408.50
475,408.50
101.22

3.98%
480,799.92
9,407.64

1.22%
5,391.42
Aa3/AANA2.07

1.85 14913R3A3 CATERPILLAR FINANCIAL
SERVICES CORP 3.6 08/12/2027 250,000.00 09/13/20224.27% 242,635.00
242,635.00

99.01 4.09%
247,529.41
3,475.00

0.63%
4,894.41
A2/A
A+

2.12 1.99
023135BC9 AMAZON.COM INC 3.15
08/22/2027 250,000.00 09/14/20224.17%
238,730.00
238,730.00

98.37 3.95%
245,927.63
2,821.88

0.62%
7,197.63
A1/AA
AA2.152.02
24422EWK1 JOHN DEERE CAPITAL CORP 4.15
09/15/2027 250,000.00 09/13/20224.29%
248,480.00
248,480.00
100.21

4.05%
250,521.38
3,054.86

0.64%
2,041.38
A1/A
A+

2.21 2.06
74456QBU9 PUBLIC SERVICE ELECTRIC AND
GAS CO 3.7 05/01/2028 300,000.00 09/06/20235.10%
282,837.00
282,837.00

99.12 4.03%
297,363.55
1,850.00

0.75%
14,526.55
A1/A
NA

2.84 2.65
58933YBH7 MERCK & CO INC 4.05
05/17/2028 300,000.00 --4.08%
299,617.50
299,617.50
100.46

3.88%
301,378.85
1,485.00

0.76%
1,761.35
Aa3/A+
NA

2.88 2.61
06051GMK2 BANK OF AMERICA CORP 4.979
01/24/2029 380,000.00 01/17/20254.98%
380,000.00
380,000.00
101.43

4.61%
385,420.28
8,251.31

0.98%
5,420.28
A1/AAA3.57

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

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029 365,000.00 01/24/20244.64%
364,405.05
364,405.05
101.37

4.18%
369,991.49
7,042.47

0.94%
5,586.44
A1/A+
NA

3.59 3.22
17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029 140,000.00 02/21/20244.86%
139,951.00
139,951.00
102.48

4.11%
143,468.44
2,357.64

0.36%
3,517.44
A1/AANA3.66

3.21 341081GT8 FLORIDA POWER & LIGHT CO

5.15 06/15/2029 300,000.00 06/13/20244.82%
304,159.46
304,159.46
103.48

4.19%
310,439.57
686.67

0.79%
6,280.11
Aa2/A+
AA3.963.42
437076DC3 HOME DEPOT INC 4.75
06/25/2029 500,000.00 07/08/20244.72%
500,690.00
500,690.00
102.07

4.18%
510,366.31
395.83

1.29%
9,676.31
A2/A
A

3.99 3.53
713448FX1 PEPSICO INC 4.5 07/17/2029 400,000.00 07/16/2024

4.52%
399,592.00
399,592.00
101.59

4.07%
406,376.62
8,200.00

1.03%
6,784.62
A1/A+
NA

4.05 3.53
89236TMK8 TOYOTA MOTOR CREDIT CORP

4.55 08/09/2029 450,000.00 12/09/20244.55%
450,067.50
450,067.50
100.80

4.33%
453,607.47
8,076.25

1.15%
3,539.97
A1/A+
A+

4.11 3.65
171239AL0 CHUBB INA HOLDINGS LLC 4.65
08/15/2029 450,000.00 08/22/20244.31%
456,678.00
456,678.00
101.70

4.19%
457,669.61
7,905.00

1.16%
991.61
A2/A
A

4.13 3.59
14913UAU4 CATERPILLAR FINANCIAL
SERVICES CORP 4.7 11/15/2029 150,000.00 11/12/20244.74% 149,755.50
149,755.50
101.85

4.23%
152,767.88
900.83

0.39%
3,012.38
A2/A
A+

4.38 3.90
00287YBX6 ABBVIE INC 3.2 11/21/2029 400,000.00 04/29/2025

4.38%
380,696.00
380,696.00

95.65 4.30%
382,600.96
1,422.22

0.97%
1,904.96
A3/ANA4.39

4.02 89236TNA9 TOYOTA MOTOR CREDIT CORP

4.95 01/09/2030 330,000.00 01/06/20255.00%
329,293.80
329,293.80
102.26

4.39%
337,466.27
7,804.50

0.86%
8,172.47
A1/A+
A+

4.53 3.93
46647PEB8 JPMORGAN CHASE & CO 5.012
01/23/2030 300,000.00 05/14/20254.76%
302,478.00
302,478.00
101.85

4.70%
305,537.10
6,599.13

0.77%
3,059.10
A1/A
AA4.573.17
532457CV8 ELI LILLY AND CO 4.75
02/12/2030 500,000.00 02/10/20254.75%
500,110.00
500,110.00
102.53

4.14%
512,638.14
9,170.14

1.30%
12,528.14
Aa3/A+
NA

4.62 3.98
02665WFY2 AMERICAN HONDA FINANCE
CORP 4.8 03/05/2030 325,000.00 03/03/20254.82%
324,714.00
324,714.00
100.79

4.61%
327,576.94
5,026.67

0.83%
2,862.94
A3/ANA4.68

4.09 194162AT0 COLGATE-PALMOLIVE CO 4.2
05/01/2030 210,000.00 04/28/20254.21%
209,888.70
209,888.70
100.41

4.10%
210,865.93
1,445.50

0.53%
977.23
Aa3/A+
NA

4.84 4.24
Total Corporate 9,865,000.00 4.68%
9,699,760.06
9,699,760.06
100.47

4.35%
9,908,501.64
128,576.57

25.12%
208,741.58

3.09 2.58

MONEY MARKET
FUND
31846V203 FIRST AMER:GVT OBLG Y 241,938.13 --

3.96%
241,938.13
241,938.13

1.00 3.96%
241,938.13

0.00 0.61%

0.00 Aaa/
AAAm
AAA

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

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Money
Market Fund 241,938.13 3.96%
241,938.13
241,938.13

1.00 3.96%
241,938.13

0.00 0.61%

0.00 0.00

0.00 MUNICIPAL
BONDS
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029 395,000.00 10/30/20244.38%
397,081.65
397,081.65
101.77

4.02%
402,009.28
7,406.25

1.02%
4,927.63
Aa2/AAAA4.09

3.64 Total Municipal
Bonds 395,000.00 4.38%
397,081.65
397,081.65
101.77

4.02%
402,009.28
7,406.25

1.02%
4,927.63

4.09 3.64

SUPRANATIONAL
459058KT9

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.5 07/12/2028
225,000.00 08/17/2023

4.55%
214,688.25
214,688.25

99.26 3.76%
223,324.93
3,696.88

0.57%
8,636.68
Aaa/AAA
NA

3.03 2.80
45950KDD9 INTERNATIONAL FINANCE CORP

4.5 07/13/2028 230,000.00 07/06/20234.53%
229,744.70
229,744.70
102.12

3.75%
234,871.71
4,830.00

0.60%
5,127.01
Aaa/AAA
NA

3.04 2.76
4581X0EN4

INTER-AMERICAN
DEVELOPMENT BANK 4.125
02/15/2029
400,000.00 03/14/2024

4.39%
395,324.00
395,324.00
101.10

3.80%
404,383.91
6,233.33

1.03%
9,059.91
Aaa/AAA
NA

3.63 3.29
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
235,000.00 03/14/2025

4.20%
234,161.05
234,161.05
101.23

3.84%
237,878.97
2,719.64

0.60%
3,717.92
Aaa/AAA
NA

4.72 4.21
Total
Supranational 1,090,000.00 4.41%
1,073,918.00
1,073,918.00
100.97

3.79%
1,100,459.52
17,479.84

2.79%
26,541.52

3.62 3.28

US TREASURY
9128287B0 UNITED STATES TREASURY 1.875
06/30/2026 650,000.00 09/15/20223.78%
606,632.81
606,632.81

97.93 4.02%
636,530.27

33.12 1.61%
29,897.46
Aa1/AA+
AA+

1.00 0.97
9128282A7 UNITED STATES TREASURY 1.5
08/15/2026 650,000.00 09/13/20223.72%
597,923.83
597,923.83

97.32 3.96%
632,556.64
3,662.98

1.60%
34,632.81
Aa1/AA+
AA+

1.13 1.09
91282CJC6 UNITED STATES TREASURY 4.625
10/15/2026 500,000.00 07/19/20244.42%
502,148.44
502,148.44
100.89

3.91%
504,453.13
4,865.10

1.28%
2,304.69
Aa1/AA+
AA+

1.29 1.23
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027 650,000.00 09/14/20223.66%
618,591.80
618,591.80

97.86 3.77%
636,111.33
4,084.70

1.61%
17,519.53
Aa1/AA+
AA+

1.75 1.68
91282CKV2 UNITED STATES TREASURY 4.625
06/15/2027 650,000.00 07/08/20244.41%
653,833.98
653,833.98
101.66

3.74%
660,765.95
1,314.21

1.68%
6,931.97
Aa1/AA+
AA+

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

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CKZ3 UNITED STATES TREASURY 4.375
07/15/2027 650,000.00 07/16/20244.24%
652,462.89
652,462.89
101.25

3.73%
658,099.61
13,118.96

1.67%
5,636.72
Aa1/AA+
AA+

2.04 1.90
91282CFH9 UNITED STATES TREASURY 3.125
08/31/2027 650,000.00 09/13/20223.57%
636,822.26
636,822.26

98.77 3.72%
642,001.95
6,789.23

1.63%
5,179.69
Aa1/AA+
AA+

2.17 2.05
91282CFU0 UNITED STATES TREASURY 4.125
10/31/2027 650,000.00 07/08/20244.37%
645,074.22
645,074.22
100.91

3.71%
655,941.40
4,517.32

1.66%
10,867.18
Aa1/AA+
AA+

2.34 2.19
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 350,000.00 01/24/20233.59%
354,470.70
354,470.70
100.42

3.70%
351,476.56

36.85 0.89%
(2,994.14)
Aa1/AA+
AA+

2.50 2.36
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 500,000.00 02/22/20234.12%
486,269.53
486,269.53

99.49 3.71%
497,460.94
7,299.72

1.26%
11,191.41
Aa1/AA+
AA+

2.59 2.41
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 500,000.00 07/19/20244.22%
496,367.19
496,367.19
100.76

3.70%
503,789.06
6,684.78

1.28%
7,421.87
Aa1/AA+
AA+

2.67 2.48
91282CGT2 UNITED STATES TREASURY 3.625
03/31/2028 350,000.00 04/24/20233.61%
350,259.77
350,259.77

99.83 3.69%
349,398.44
3,189.21

0.89%
(861.33)
Aa1/AA+
AA+

2.75 2.57
91282CHE4 UNITED STATES TREASURY 3.625
05/31/2028 500,000.00 06/22/20234.02%
491,308.59
491,308.59

99.79 3.70%
498,945.31
1,535.18

1.27%
7,636.72
Aa1/AA+
AA+

2.92 2.73
91282CHK0 UNITED STATES TREASURY 4.0
06/30/2028 500,000.00 09/20/20234.51%
489,179.69
489,179.69
100.86

3.69%
504,296.88

54.35 1.28%
15,117.19
Aa1/AA+
AA+

3.00 2.80
91282CHQ7 UNITED STATES TREASURY 4.125
07/31/2028 350,000.00 08/24/20234.39%
345,953.13
345,953.13
101.21

3.71%
354,224.61
6,022.27

0.90%
8,271.48
Aa1/AA+
AA+

3.08 2.83
91282CJA0 UNITED STATES TREASURY 4.625
09/30/2028 350,000.00 10/18/20234.89%
345,912.11
345,912.11
102.77

3.71%
359,693.36
4,068.99

0.91%
13,781.25
Aa1/AA+
AA+

3.25 2.97
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 400,000.00 01/22/20244.00%
395,468.75
395,468.75
100.09

3.72%
400,359.38

40.76 1.02%
4,890.63
Aa1/AA+
AA+

3.50 3.25
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 650,000.00 02/12/20244.14%
646,013.67
646,013.67
100.90

3.73%
655,865.24
10,845.30

1.66%
9,851.57
Aa1/AA+
AA+

3.59 3.26
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 650,000.00 07/16/20244.12%
650,000.00
650,000.00
101.35

3.73%
658,785.15
6,739.75

1.67%
8,785.15
Aa1/AA+
AA+

3.75 3.42
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029 500,000.00 07/19/20244.14%
507,812.50
507,812.50
102.73

3.74%
513,632.81
1,905.74

1.30%
5,820.31
Aa1/AA+
AA+

3.92 3.56
91282CKX8 UNITED STATES TREASURY 4.25
06/30/2029 650,000.00 07/08/20244.24%
650,355.47
650,355.47
101.86

3.74%
662,085.94

75.07 1.68%
11,730.47
Aa1/AA+
AA+

4.00 3.65
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 500,000.00 07/29/20244.06%
498,632.81
498,632.81
100.93

3.75%
504,667.97
8,342.54

1.28%
6,035.16
Aa1/AA+
AA+

4.08 3.68
91282CLK5 UNITED STATES TREASURY 3.625
08/31/2029 500,000.00 09/17/20243.44%
504,218.75
504,218.75

99.50 3.75%
497,519.53
6,058.08

1.26%
(6,699.22)
Aa1/AA+
AA+

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

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CFL0 UNITED STATES TREASURY 3.875
09/30/2029 350,000.00 11/14/20244.29%
343,656.25
343,656.25
100.46

3.76%
351,613.28
3,409.15

0.89%
7,957.03
Aa1/AA+
AA+

4.25 3.85
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 700,000.00 12/19/20244.40%
691,386.72
691,386.72
101.47

3.76%
710,281.60
2,445.70

1.80%
18,894.88
Aa1/AA+
AA+

4.42 4.00
91282CMG3 UNITED STATES TREASURY 4.25
01/31/2030 500,000.00 05/29/20254.03%
504,570.31
504,570.31
101.97

3.78%
509,863.28
8,863.95

1.29%
5,292.97
Aa1/AA+
AA+

4.59 4.07
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030 500,000.00 04/07/20253.75%
505,625.00
505,625.00
100.93

3.78%
504,648.44
5,027.32

1.28%
(976.56)
Aa1/AA+
AA+

4.75 4.25
91282CMZ1 UNITED STATES TREASURY 3.875
04/30/2030 500,000.00 05/29/20254.04%
496,367.19
496,367.19
100.39

3.78%
501,953.13
3,264.27

1.27%
5,585.94
Aa1/AA+
AA+

4.83 4.34
Total US Treasury 14,850,000.00 4.08%
14,667,318.36
14,667,318.36
100.47

3.76%
14,917,021.17
124,294.61

37.82%
249,702.81

3.03 2.78
Total Portfolio 39,323,475.29 4.35%
38,749,318.46
38,749,318.46

99.72 4.00%
39,439,336.53
357,388.46
100.00%
690,018.08

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

ACQUISITIONS
Purchase 06/02/2025 31846V203 38,437.50 FIRST AMER:GVT OBLG Y 1.000 3.94% (38,437.50) 0.00 (38,437.50) 0.00 Purchase 06/03/2025 31846V203 3,314.05 FIRST AMER:GVT OBLG Y 1.000 3.93% (3,314.05) 0.00 (3,314.05) 0.00 Purchase 06/09/2025 31846V203 15,437.50 FIRST AMER:GVT OBLG Y 1.000 3.89% (15,437.50) 0.00 (15,437.50) 0.00 Purchase 06/10/2025 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 99.998 4.43% (99,997.80) 0.00 (99,997.80) 0.00 Purchase 06/16/2025 31846V203 25,076.66 FIRST AMER:GVT OBLG Y 1.000 3.89% (25,076.66) 0.00 (25,076.66) 0.00 Purchase 06/16/2025 31846V203 66,508.04 FIRST AMER:GVT OBLG Y 1.000 3.89% (66,508.04) 0.00 (66,508.04) 0.00 Purchase 06/18/2025 31846V203 17,689.93 FIRST AMER:GVT OBLG Y 1.000 3.91% (17,689.93) 0.00 (17,689.93) 0.00 Purchase 06/25/2025 31846V203 15,042.33 FIRST AMER:GVT OBLG Y 1.000 (15,042.33) 0.00 (15,042.33) 0.00 Purchase 06/25/2025 31846V203 12,096.53 FIRST AMER:GVT OBLG Y 1.000 (12,096.53) 0.00 (12,096.53) 0.00 Purchase 06/30/2025 31846V203 44,187.50 FIRST AMER:GVT OBLG Y 1.000 3.96% (44,187.50) 0.00 (44,187.50) 0.00 Total Purchase 337,790.04 (337,787.84) 0.00 (337,787.84) 0.00 TOTAL
ACQUISITIONS 337,790.04 (337,787.84) 0.00 (337,787.84) 0.00

DISPOSITIONS
Sale 06/05/2025 31846V203 (3,052.41) FIRST AMER:GVT OBLG Y 1.000 3.90% 3,052.41 0.00 3,052.41 0.00 Sale 06/10/2025 31846V203 (99,997.80) FIRST AMER:GVT OBLG Y 1.000 3.89% 99,997.80 0.00 99,997.80 0.00 Total Sale (103,050.21) 103,050.21 0.00 103,050.21 0.00 TOTAL
DISPOSITIONS (103,050.21) 103,050.21 0.00 103,050.21 0.00 OTHER

TRANSACTIONS
Coupon 06/01/2025 3137FLYV0 0.00 FHMS K-092 A2 3.298
04/25/2029 4.85% 687.08 0.00 687.08 0.00
Coupon 06/01/2025 3137FG6X8 0.00 FHMS K-077 A2 3.85
05/25/2028 4.65% 1,636.25 0.00 1,636.25 0.00
Coupon 06/01/2025 3137FKUP9 0.00 FHMS K-087 A2 3.771
12/25/2028 4.64% 1,257.00 0.00 1,257.00 0.00
CONFIDENTIAL | 16
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 06/01/2025 3137FLMV3 0.00 FHMS K-090 A2 3.422
02/25/2029 4.57% 1,140.67 0.00 1,140.67 0.00
Coupon 06/01/2025 3137FKSH0 0.00 FHMS K-086 A2 3.859
11/25/2028 4.47% 1,607.92 0.00 1,607.92 0.00
Coupon 06/01/2025 26442CAS3 0.00

DUKE ENERGY
CAROLINAS LLC 2.95
12/01/2026

4.31% 3,687.50 0.00 3,687.50 0.00
Coupon 06/01/2025 3137FAWS3 0.00 FHMS K-067 A2 3.194
07/25/2027 4.28% 825.12 0.00 825.12 0.00
Coupon 06/01/2025 3137BTUM1 0.00 FHMS K-061 A2 3.347
11/25/2026 4.23% 941.88 0.00 941.88 0.00
Coupon 06/01/2025 3137H5YC5 0.00 FHMS K-748 A2 2.26
01/25/2029 4.18% 988.75 0.00 988.75 0.00
Coupon 06/01/2025 3137FBU79 0.00 FHMS K-069 A2 3.187
09/25/2027 4.13% 1,305.34 0.00 1,305.34 0.00
Coupon 06/01/2025 3137BVZ82 0.00 FHMS K-063 A2 3.43
01/25/2027 3.97% 1,000.42 0.00 1,000.42 0.00
Coupon 06/01/2025 3137F2LJ3 0.00 FHMS K-066 A2 3.117
06/25/2027 3.97% 909.13 0.00 909.13 0.00
Coupon 06/01/2025 3137FMCR1 0.00 FHMS K-093 A2 2.982
05/25/2029 3.76% 864.36 0.00 864.36 0.00
Coupon 06/08/2025 3130AXQK7 0.00 FEDERAL HOME LOAN
BANKS 4.75 12/08/2028 4.18% 15,437.50 0.00 15,437.50 0.00 Coupon 06/15/2025 58770JAD6 0.00 MBALT 2024-A A3 5.32
01/18/2028 5.32% 310.33 0.00 310.33 0.00
Coupon 06/15/2025 44933XAD9 0.00 HART 2023-B A3 5.48
04/17/2028 5.27% 2,125.87 0.00 2,125.87 0.00
Coupon 06/15/2025 02582JKH2 0.00 AMXCA 2024-1 A 5.23
04/16/2029 5.23% 479.42 0.00 479.42 0.00
Coupon 06/15/2025 161571HT4 0.00 CHAIT 2023-1 A 5.16
09/15/2028 5.23% 1,204.00 0.00 1,204.00 0.00
Coupon 06/15/2025 47786WAD2 0.00 JDOT 2024-B A3 5.2
03/15/2029 5.20% 281.67 0.00 281.67 0.00
CONFIDENTIAL | 17
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 06/15/2025 47800BAC2 0.00 JDOT 2022-C A3 5.09
06/15/2027 5.09% 197.14 0.00 197.14 0.00
Coupon 06/15/2025 47787CAC7 0.00 JDOT 2023-C A3 5.48
05/15/2028 5.08% 1,370.00 0.00 1,370.00 0.00
Coupon 06/15/2025 448973AD9 0.00 HART 2024-A A3 4.99
02/15/2029 5.00% 353.46 0.00 353.46 0.00
Coupon 06/15/2025 05522RDJ4 0.00 BACCT 2024-1 A 4.93
05/15/2029 4.93% 554.62 0.00 554.62 0.00
Coupon 06/15/2025 341081GT8 0.00 FLORIDA POWER & LIGHT
CO 5.15 06/15/2029 4.82% 7,725.00 0.00 7,725.00 0.00
Coupon 06/15/2025 91282CKV2 0.00 UNITED STATES TREASURY

4.625 06/15/2027 4.41% 15,031.25 0.00 15,031.25 0.00
Coupon 06/15/2025 89239TAD4 0.00 TAOT 2024-D A3 4.4
06/15/2029 4.40% 440.00 0.00 440.00 0.00
Coupon 06/15/2025 89231HAD8 0.00 TAOT 2025-B A3 4.34
11/15/2029 4.34% 434.00 0.00 434.00 0.00
Coupon 06/15/2025 92970QAE5 0.00 WFCIT 2024-2 A 4.29
10/15/2029 4.29% 750.75 0.00 750.75 0.00
Coupon 06/15/2025 47800DAD6 0.00 JDOT 2025 A3 4.23
09/17/2029 4.23% 652.13 0.00 652.13 0.00
Coupon 06/15/2025 437921AD1 0.00 HAROT 252 A3 4.15
10/15/2029 4.15% 533.16 0.00 533.16 0.00
Coupon 06/15/2025 89238FAD5 0.00 TAOT 2022-B A3 2.93
09/15/2026 3.53% 158.73 0.00 158.73 0.00
Coupon 06/18/2025 43815PAC3 0.00 HAROT 2022-2 A3 3.73
07/20/2026 4.08% 265.21 0.00 265.21 0.00
Coupon 06/25/2025 096919AD7 0.00 BMWOT 2024-A A3 5.18
02/26/2029 5.18% 518.00 0.00 518.00 0.00
Coupon 06/25/2025 437076DC3 0.00 HOME DEPOT INC 4.75
06/25/2029 4.72% 11,875.00 0.00 11,875.00 0.00
Coupon 06/30/2025 91282CHK0 0.00 UNITED STATES TREASURY

4.0 06/30/2028 4.51% 10,000.00 0.00 10,000.00 0.00
Coupon 06/30/2025 91282CKX8 0.00 UNITED STATES TREASURY

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 06/30/2025 91282CJR3 0.00 UNITED STATES TREASURY

3.75 12/31/2028 4.00% 7,500.00 0.00 7,500.00 0.00
Coupon 06/30/2025 9128287B0 0.00 UNITED STATES TREASURY

1.875 06/30/2026 3.78% 6,093.75 0.00 6,093.75 0.00
Coupon 06/30/2025 91282CGC9 0.00 UNITED STATES TREASURY

3.875 12/31/2027 3.59% 6,781.25 0.00 6,781.25 0.00
Total Coupon 0.00 121,736.16 0.00 121,736.16 0.00
Custody Fee 06/25/2025 CCYUSD (296.47) Cash 0.00% (296.47) 0.00 (296.47) 0.00 Total Custody Fee (296.47) (296.47) 0.00 (296.47) 0.00
Management Fee 06/05/2025 CCYUSD (3,052.41) Cash 0.00% (3,052.41) 0.00 (3,052.41) 0.00 Total
Management Fee (3,052.41) (3,052.41) 0.00 (3,052.41) 0.00 Principal Paydown 06/01/2025 3137BTUM1 688.06 FHMS K-061 A2 3.347 11/25/2026 4.23% 688.06 -- 688.06 24.70
Principal Paydown 06/01/2025 3137FBU79 815.61 FHMS K-069 A2 3.187 09/25/2027 4.13% 815.61 -- 815.61 32.15
Principal Paydown 06/01/2025 3137FMCR1 374.74 FHMS K-093 A2 2.982 05/25/2029 3.76% 374.74 -- 374.74 13.20
Principal Paydown 06/15/2025 44933XAD9 32,414.05 HART 2023-B A3 5.48 04/17/2028 5.27% 32,414.05 -- 32,414.05 (173.47)
Principal Paydown 06/15/2025 47800BAC2 3,994.35 JDOT 2022-C A3 5.09 06/15/2027 5.09% 3,994.35 -- 3,994.35 0.31
Principal Paydown 06/15/2025 47787CAC7 8,926.21 JDOT 2023-C A3 5.48 05/15/2028 5.08% 8,926.21 -- 8,926.21 (92.75)
Principal Paydown 06/15/2025 89238FAD5 13,648.56 TAOT 2022-B A3 2.93 09/15/2026 3.53% 13,648.56 -- 13,648.56 303.90
Principal Paydown 06/18/2025 43815PAC3 17,424.72 HAROT 2022-2 A3 3.73 07/20/2026 4.08% 17,424.72 -- 17,424.72 217.81
Total Principal
Paydown 78,286.30 78,286.30 -- 78,286.30 325.85

INCOME EARNED
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

CASH & EQUIVALENTS
31846V203 FIRST AMER:GVT OBLG Y
241,938.13
107,198.30
237,790.04
(103,050.21)
241,938.13

0.00 3,314.05

0.00 0.00

0.00 3,314.05
3,314.05
CCYUSD Receivable
471.20
38,064.05

0.00 0.00
471.20

0.00 0.00

0.00 Total Cash & Equivalents 242,409.33
145,262.35
237,790.04
(103,050.21)
242,409.33

0.00 3,314.05

0.00 0.00

0.00 3,314.05 3,314.05

FIXED INCOME
00287YBX6 ABBVIE INC 3.2 11/21/2029
04/29/2025
04/30/2025
400,000.00
380,696.00

0.00 0.00
380,696.00
355.56

0.00 1,422.22
1,066.67

0.00 0.00

0.00 1,066.67
1,066.67
023135BC9 AMAZON.COM INC 3.15
08/22/2027
09/14/2022
09/16/2022
250,000.00
238,730.00

0.00 0.00
238,730.00
2,165.63

0.00 2,821.88
656.25

0.00 0.00

0.00 656.25
656.25
02582JKH2 AMXCA 2024-1 A 5.23
04/16/2029
04/16/2024
04/23/2024
110,000.00
109,977.45

0.00 0.00
109,977.45
255.69
479.42
255.69
479.42

0.00 0.00

0.00 479.42
479.42
02665WFY2 AMERICAN HONDA FINANCE
CORP 4.8 03/05/2030
03/03/2025
03/05/2025
325,000.00
324,714.00

0.00 0.00
324,714.00
3,726.67

0.00 5,026.67
1,300.00

0.00 0.00

0.00 1,300.00
1,300.00
05522RDJ4 BACCT 2024-1 A 4.93
05/15/2029
06/06/2024
06/13/2024
135,000.00
134,992.43

0.00 0.00
134,992.43
295.80
554.62
295.80
554.62

0.00 0.00

1.734 07/22/2027
09/15/2022
09/19/2022
250,000.00
219,722.50

0.00 0.00
219,722.50
1,553.38

0.00 1,914.63
361.25

0.00 0.00

0.00 361.25
361.25
06051GMK2 BANK OF AMERICA CORP

4.979 01/24/2029
01/17/2025
01/24/2025
380,000.00
380,000.00

0.00 0.00
380,000.00
6,674.63

0.00 8,251.31
1,576.68

0.00 0.00

0.00 1,576.68
1,576.68
06406RBJ5 BANK OF NEW YORK MELLON
CORP 4.414 07/24/2026 350,000.00
348,501.00

0.00 0.00
348,501.00
5,450.06

0.00 6,737.48
1,287.42

0.00 0.00

0.00 1,287.42
1,287.42
09290DAH4 BLACKROCK INC 4.6
07/26/2027
07/18/2024
07/26/2024
475,000.00
475,408.50

0.00 0.00
475,408.50
7,586.81

0.00 9,407.64
1,820.83

0.00 0.00

0.00 1,820.83
1,820.83
096912AD2 BMWLT 2025-1 A3 4.43
06/26/2028
06/03/2025
06/10/2025
100,000.00

0.00 99,997.80

0.00 0.00
258.42
258.42

0.00 0.00

0.00 258.42
258.42
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029
06/04/2024
06/11/2024
120,000.00
119,981.77

0.00 0.00
119,981.77
103.60
518.00
103.60
518.00

0.00 0.00

0.00 518.00
518.00
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029
10/30/2024
11/05/2024
395,000.00
397,081.65

0.00 0.00
397,081.65
5,925.00

0.00 7,406.25
1,481.25

0.00 0.00

0.00 1,481.25
1,481.25
14913R3A3

CATERPILLAR FINANCIAL
SERVICES CORP 3.6
08/12/2027
09/13/2022
09/15/2022
250,000.00
242,635.00

0.00 0.00
242,635.00
2,725.00

0.00 3,475.00
750.00

0.00 0.00

0.00 750.00
750.00
14913UAU4

CATERPILLAR FINANCIAL
SERVICES CORP 4.7
11/15/2029
11/12/2024
11/15/2024
150,000.00
149,755.50

0.00 0.00
149,755.50
313.33

0.00 900.83
587.50

0.00 0.00

0.00 0.00
279,922.38
642.13
1,204.00
642.13
1,204.00

0.00 0.00

0.00 1,204.00
1,204.00
171239AL0 CHUBB INA HOLDINGS LLC

4.65 08/15/2029
08/22/2024
08/23/2024
450,000.00
456,678.00

0.00 0.00
456,678.00
6,161.25

0.00 7,905.00
1,743.75

0.00 0.00

0.00 1,743.75
1,743.75
17275RBQ4 CISCO SYSTEMS INC 4.8
02/26/2027
07/08/2024
07/09/2024
300,000.00
300,429.00

0.00 0.00
300,429.00
3,800.00

0.00 5,000.00
1,200.00

0.00 0.00

0.00 1,200.00
1,200.00
17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029
02/21/2024
02/26/2024
140,000.00
139,951.00

0.00 0.00
139,951.00
1,791.81

0.00 2,357.64
565.83

0.00 0.00

0.00 565.83
565.83
194162AT0 COLGATE-PALMOLIVE CO 4.2
05/01/2030
04/28/2025
05/02/2025
210,000.00
209,888.70

0.00 0.00
209,888.70
710.50

0.00 1,445.50
735.00

0.00 0.00

0.00 735.00
735.00
24422EWJ4 JOHN DEERE CAPITAL CORP

4.05 09/08/2025
09/21/2022
09/23/2022
125,000.00
123,933.75

0.00 0.00
123,933.75
1,167.19

0.00 1,589.06
421.88

0.00 0.00

0.00 421.88
421.88
24422EWK1 JOHN DEERE CAPITAL CORP

4.15 09/15/2027
09/13/2022
09/15/2022
250,000.00
248,480.00

0.00 0.00
248,480.00
2,190.28

0.00 3,054.86
864.58

0.00 0.00

0.00 864.58
864.58
26442CAS3 DUKE ENERGY CAROLINAS
LLC 2.95 12/01/2026
09/16/2022
09/20/2022
250,000.00
237,035.00

0.00 0.00
237,035.00
3,687.50
3,687.50
614.58
614.58

0.00 0.00

0.00 614.58
614.58
3130ATS57 FEDERAL HOME LOAN BANKS

4.5 03/10/2028
03/22/2023
03/23/2023
500,000.00
510,315.00

0.00 0.00
510,315.00
5,062.50

0.00 6,937.50
1,875.00

0.00 0.00

4.375 09/08/2028
09/13/2023
09/15/2023
300,000.00
298,555.11

0.00 0.00
298,555.11
3,026.04

0.00 4,119.79
1,093.75

0.00 0.00

0.00 1,093.75
1,093.75
3130AXQK7 FEDERAL HOME LOAN BANKS

4.75 12/08/2028
12/07/2023
12/08/2023
650,000.00
666,646.50

0.00 0.00
666,646.50
14,837.15
15,437.50
1,972.57
2,572.92

0.00 0.00

0.00 2,572.92
2,572.92
3133EPGW9

FEDERAL FARM CREDIT
BANKS FUNDING CORP 3.875
04/25/2028
04/24/2023
04/25/2023
250,000.00
251,255.00

0.00 0.00
251,255.00
968.75

0.00 1,776.04
807.29

0.00 0.00

0.00 807.29
807.29
3133EPWK7

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.5
09/22/2028
09/25/2023
09/26/2023
500,000.00
496,185.00

0.00 0.00
496,185.00
4,312.50

0.00 6,187.50
1,875.00

0.00 0.00

0.00 1,875.00
1,875.00
3133ERAK7

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.375
04/10/2029
04/08/2024
04/10/2024
400,000.00
398,068.00

0.00 0.00
398,068.00
2,479.17

0.00 3,937.50
1,458.33

0.00 0.00

0.00 1,458.33
1,458.33
3133ERDH1

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.75
04/30/2029
05/08/2024
05/09/2024
500,000.00
504,355.00

0.00 0.00
504,355.00
2,045.14

0.00 4,024.31
1,979.17

0.00 0.00

0.00 1,979.17
1,979.17
3133ERFJ5

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.5
05/20/2027
05/23/2024
05/24/2024
450,000.00
446,330.25

0.00 0.00
446,330.25
618.75

0.00 2,306.25
1,687.50

0.00 0.00

0.00 1,687.50
1,687.50
3133ERKR1

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.625
07/10/2026
07/19/2024
07/22/2024
650,000.00
650,981.50

0.00 0.00
650,981.50
11,774.48

0.00 14,279.69
2,505.21

0.00 0.00

0.00 2,505.21
2,505.21
3133ERMB4

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.25
07/23/2027
07/18/2024
07/23/2024
650,000.00
649,798.50

0.00 0.00
649,798.50
9,822.22

0.00 12,124.31
2,302.08

0.00 0.00

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

1.875 09/24/2026
09/14/2022
09/15/2022
650,000.00
605,208.50

0.00 0.00
605,208.50
2,268.23

0.00 3,283.85
1,015.63

0.00 0.00

0.00 1,015.63
1,015.63
3137BTUM1 FHMS K-061 A2 3.347
11/25/2026
09/22/2022
09/27/2022
337,005.12
325,570.53

0.00 (663.36)
324,907.17
941.88
941.88
939.96
939.96

0.00 0.00

0.00 939.96
939.96
3137BVZ82 FHMS K-063 A2 3.43
01/25/2027
09/13/2022
09/16/2022
350,000.00
342,412.11

0.00 0.00
342,412.11
1,000.42
1,000.42
1,000.42
1,000.42

0.00 0.00

0.00 1,000.42
1,000.42
3137F2LJ3 FHMS K-066 A2 3.117
06/25/2027
09/13/2022
09/16/2022
350,000.00
337,640.63

0.00 0.00
337,640.63
909.13
909.13
909.13
909.13

0.00 0.00

0.00 909.13
909.13
3137FAWS3 FHMS K-067 A2 3.194
07/25/2027
09/22/2022
09/27/2022
310,000.00
295,856.25

0.00 0.00
295,856.25
825.12
825.12
825.12
825.12

0.00 0.00

0.00 825.12
825.12
3137FBU79 FHMS K-069 A2 3.187
09/25/2027
05/18/2023
05/23/2023
490,682.97
472,126.63

0.00 (783.46)
471,343.16
1,305.34
1,305.34
1,303.17
1,303.17

0.00 0.00

0.00 1,303.17
1,303.17
3137FG6X8 FHMS K-077 A2 3.85
05/25/2028
05/24/2023
05/30/2023
510,000.00
500,636.72

0.00 0.00
500,636.72
1,636.25
1,636.25
1,636.25
1,636.25

0.00 0.00

0.00 1,636.25
1,636.25
3137FKSH0 FHMS K-086 A2 3.859
11/25/2028
07/18/2024
07/23/2024
500,000.00
486,640.63

0.00 0.00
486,640.63
1,607.92
1,607.92
1,607.92
1,607.92

0.00 0.00

0.00 1,607.92
1,607.92
3137FKUP9 FHMS K-087 A2 3.771
12/25/2028
06/05/2024
06/06/2024
400,000.00
384,812.50

0.00 0.00
384,812.50
1,257.00
1,257.00
1,257.00
1,257.00

0.00 0.00

0.00 0.00
380,031.25
1,140.67
1,140.67
1,140.67
1,140.67

0.00 0.00

0.00 1,140.67
1,140.67
3137FLYV0 FHMS K-092 A2 3.298
04/25/2029
05/30/2024
06/04/2024
250,000.00
232,578.13

0.00 0.00
232,578.13
687.08
687.08
687.08
687.08

0.00 0.00

0.00 687.08
687.08
3137FMCR1 FHMS K-093 A2 2.982
05/25/2029
09/19/2024
09/24/2024
347,455.99
335,575.14

0.00 (361.54)
335,213.60
864.36
864.36
863.43
863.43

0.00 0.00

0.00 863.43
863.43
3137H5YC5 FHMS K-748 A2 2.26
01/25/2029
10/17/2024
10/22/2024
525,000.00
485,030.27

0.00 0.00
485,030.27
988.75
988.75
988.75
988.75

0.00 0.00

0.00 988.75
988.75
341081GT8 FLORIDA POWER & LIGHT CO

5.15 06/15/2029
06/13/2024
06/17/2024
300,000.00
304,159.46

0.00 0.00
304,159.46
7,124.17
7,725.00
686.67
1,287.50

0.00 0.00

0.00 1,287.50
1,287.50
437076DC3 HOME DEPOT INC 4.75
06/25/2029
07/08/2024
07/09/2024
500,000.00
500,690.00

0.00 0.00
500,690.00
10,291.67
11,875.00
395.83
1,979.17

0.00 0.00

0.00 1,979.17
1,979.17
437921AD1 HAROT 252 A3 4.15
10/15/2029
04/29/2025
05/08/2025
125,000.00
124,986.04

0.00 0.00
124,986.04
331.42
533.16
230.56
432.29

0.00 0.00

0.00 432.29
432.29
43815PAC3 HAROT 2022-2 A3 3.73
07/20/2026
09/21/2022
09/23/2022
67,897.55
84,255.74

0.00 (17,206.91)
67,048.83
114.92
265.21

91.45 241.74

0.00 0.00

0.00 241.74
241.74
448973AD9 HART 2024-A A3 4.99
02/15/2029
03/11/2024
03/20/2024
85,000.00
84,981.26

0.00 0.00
84,981.26
188.51
353.46
188.51
353.46

0.00 0.00

0.00 (32,587.52)
435,423.28
1,133.80
2,125.87
1,054.85
2,046.92

0.00 0.00

0.00 2,046.92
2,046.92
4581X0EN4

INTER-AMERICAN
DEVELOPMENT BANK 4.125
02/15/2029
03/14/2024
03/18/2024
400,000.00
395,324.00

0.00 0.00
395,324.00
4,858.33

0.00 6,233.33
1,375.00

0.00 0.00

0.00 1,375.00
1,375.00
459058KT9

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.5 07/12/2028
08/17/2023
08/21/2023
225,000.00
214,688.25

0.00 0.00
214,688.25
3,040.63

0.00 3,696.88
656.25

0.00 0.00

0.00 656.25
656.25
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
03/14/2025
03/20/2025
235,000.00
234,161.05

0.00 0.00
234,161.05
1,911.82

0.00 2,719.64
807.81

0.00 0.00

0.00 807.81
807.81
45950KDD9 INTERNATIONAL FINANCE
CORP 4.5 07/13/2028
07/06/2023
07/13/2023
230,000.00
229,744.70

0.00 0.00
229,744.70
3,967.50

0.00 4,830.00
862.50

0.00 0.00

0.00 862.50
862.50
46647PCB0 JPMORGAN CHASE & CO

1.578 04/22/2027
09/15/2022
09/19/2022
250,000.00
221,377.50

0.00 0.00
221,377.50
427.38

0.00 756.13
328.75

0.00 0.00

0.00 328.75
328.75
46647PEB8 JPMORGAN CHASE & CO

5.012 01/23/2030
05/14/2025
05/15/2025
300,000.00
302,478.00

0.00 0.00
302,478.00
5,346.13

0.00 6,599.13
1,253.00

0.00 0.00

0.00 1,253.00
1,253.00
47786WAD2 JDOT 2024-B A3 5.2
03/15/2029
06/11/2024
06/18/2024
65,000.00
64,987.29

0.00 0.00
64,987.29
150.22
281.67
150.22
281.67

0.00 0.00

0.00 281.67
281.67
47787CAC7 JDOT 2023-C A3 5.48
05/15/2028
12/05/2023
12/08/2023
291,073.79
303,117.19

0.00 (9,018.96)
294,098.23
730.67
1,370.00
708.93
1,348.26

0.00 0.00

0.00 (3,994.04)
42,479.55
105.14
197.14

96.11 188.10

0.00 0.00

0.00 188.10
188.10
47800DAD6 JDOT 2025 A3 4.23
09/17/2029
03/04/2025
03/11/2025
185,000.00
184,988.36

0.00 0.00
184,988.36
347.80
652.13
347.80
652.13

0.00 0.00

0.00 652.13
652.13
532457CV8 ELI LILLY AND CO 4.75
02/12/2030
02/10/2025
02/12/2025
500,000.00
500,110.00

0.00 0.00
500,110.00
7,190.97

0.00 9,170.14
1,979.17

0.00 0.00

0.00 1,979.17
1,979.17
58770JAD6 MBALT 2024-A A3 5.32
01/18/2028
05/17/2024
05/23/2024
70,000.00
69,991.81

0.00 0.00
69,991.81
165.51
310.33
165.51
310.33

0.00 0.00

0.00 310.33
310.33
58933YBH7 MERCK & CO INC 4.05
05/17/2028 300,000.00
299,617.50

0.00 0.00
299,617.50
472.50

0.00 1,485.00
1,012.50

0.00 0.00

0.00 1,012.50
1,012.50
61747YEC5 MORGAN STANLEY 1.512
07/20/2027
09/15/2022
09/19/2022
250,000.00
219,305.00

0.00 0.00
219,305.00
1,375.50

0.00 1,690.50
315.00

0.00 0.00

0.00 315.00
315.00
61747YET8 MORGAN STANLEY 4.679
07/17/2026
09/13/2022
09/15/2022
200,000.00
199,302.00

0.00 0.00
199,302.00
3,483.26

0.00 4,263.09
779.83

0.00 0.00

0.00 779.83
779.83
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029
01/24/2024
01/31/2024
365,000.00
364,405.05

0.00 0.00
364,405.05
5,643.31

0.00 7,042.47
1,399.17

0.00 0.00

0.00 1,399.17
1,399.17
713448FQ6 PEPSICO INC 4.55 02/13/2026
02/13/2023
02/15/2023
65,000.00
64,962.30

0.00 0.00
64,962.30
887.25

0.00 1,133.71
246.46

0.00 0.00

0.00 0.00
399,592.00
6,700.00

0.00 8,200.00
1,500.00

0.00 0.00

0.00 1,500.00
1,500.00
74340XBK6 PROLOGIS LP 3.25
10/01/2026
09/14/2022
09/16/2022
250,000.00
240,397.50

0.00 0.00
240,397.50
1,354.17

0.00 2,031.25
677.08

0.00 0.00

0.00 677.08
677.08
74456QBU9 PUBLIC SERVICE ELECTRIC
AND GAS CO 3.7 05/01/2028
09/06/2023
09/08/2023
300,000.00
282,837.00

0.00 0.00
282,837.00
925.00

0.00 1,850.00
925.00

0.00 0.00

0.00 925.00
925.00
857477CL5 STATE STREET CORP 4.993
03/18/2027
03/13/2024
03/18/2024
300,000.00
300,000.00

0.00 0.00
300,000.00
3,037.41

0.00 4,285.66
1,248.25

0.00 0.00

0.00 1,248.25
1,248.25
89231HAD8 TAOT 2025-B A3 4.34
11/15/2029
04/24/2025
04/30/2025
120,000.00
119,993.12

0.00 0.00
119,993.12
231.47
434.00
231.47
434.00

0.00 0.00

0.00 434.00
434.00
89236TMK8 TOYOTA MOTOR CREDIT
CORP 4.55 08/09/2029
12/09/2024
12/10/2024
450,000.00
450,067.50

0.00 0.00
450,067.50
6,370.00

0.00 8,076.25
1,706.25

0.00 0.00

0.00 1,706.25
1,706.25
89236TNA9 TOYOTA MOTOR CREDIT
CORP 4.95 01/09/2030
01/06/2025
01/09/2025
330,000.00
329,293.80

0.00 0.00
329,293.80
6,443.25

0.00 7,804.50
1,361.25

0.00 0.00

0.00 1,361.25
1,361.25
89238FAD5 TAOT 2022-B A3 2.93
09/15/2026
09/13/2022
09/15/2022
51,362.19
63,563.25

0.00 (13,344.66)
50,218.58

84.66 158.73

66.89 140.96

0.00 0.00

0.00 140.96
140.96
89239TAD4 TAOT 2024-D A3 4.4
06/15/2029
10/10/2024
10/17/2024
120,000.00
119,993.30

0.00 0.00
119,993.30
234.67
440.00
234.67
440.00

0.00 0.00

0.00 0.00
597,923.83
2,854.97

0.00 3,662.98
808.01

0.00 0.00

0.00 808.01
808.01
9128287B0 UNITED STATES TREASURY

1.875 06/30/2026
09/15/2022
09/16/2022
650,000.00
606,632.81

0.00 0.00
606,632.81
5,117.40
6,093.75

33.12 1,009.46

0.00 0.00

0.00 1,009.46
1,009.46
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027
09/14/2022
09/15/2022
650,000.00
618,591.80

0.00 0.00
618,591.80
2,752.73

0.00 4,084.70
1,331.97

0.00 0.00

0.00 1,331.97
1,331.97
91282CFH9 UNITED STATES TREASURY

3.125 08/31/2027
09/13/2022
09/14/2022
650,000.00
636,822.26

0.00 0.00
636,822.26
5,133.32

0.00 6,789.23
1,655.91

0.00 0.00

0.00 1,655.91
1,655.91
91282CFL0 UNITED STATES TREASURY

3.875 09/30/2029
11/14/2024
11/15/2024
350,000.00
343,656.25

0.00 0.00
343,656.25
2,297.47

0.00 3,409.15
1,111.68

0.00 0.00

0.00 1,111.68
1,111.68
91282CFU0 UNITED STATES TREASURY

4.125 10/31/2027
07/08/2024
07/09/2024
650,000.00
645,074.22

0.00 0.00
645,074.22
2,331.52

0.00 4,517.32
2,185.80

0.00 0.00

0.00 2,185.80
2,185.80
91282CGC9 UNITED STATES TREASURY

3.875 12/31/2027
01/24/2023
01/25/2023
350,000.00
354,470.70

0.00 0.00
354,470.70
5,694.75
6,781.25

36.85 1,123.35

0.00 0.00

0.00 1,123.35
1,123.35
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028
02/22/2023
02/23/2023
500,000.00
486,269.53

0.00 0.00
486,269.53
5,849.45

0.00 7,299.72
1,450.28

0.00 0.00

0.00 1,450.28
1,450.28
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028
07/19/2024
07/22/2024
500,000.00
496,367.19

0.00 0.00
496,367.19
5,054.35

0.00 6,684.78
1,630.43

0.00 0.00

3.625 03/31/2028
04/24/2023
04/25/2023
350,000.00
350,259.77

0.00 0.00
350,259.77
2,149.25

0.00 3,189.21
1,039.96

0.00 0.00

0.00 1,039.96
1,039.96
91282CHE4 UNITED STATES TREASURY

3.625 05/31/2028
06/22/2023
06/23/2023
500,000.00
491,308.59

0.00 0.00
491,308.59

49.52 9,062.50
1,535.18
10,548.16

0.00 0.00

0.00 10,548.16
10,548.16
91282CHK0 UNITED STATES TREASURY 4.0
06/30/2028
09/20/2023
09/21/2023
500,000.00
489,179.69

0.00 0.00
489,179.69
8,397.79
10,000.00

54.35 1,656.56

0.00 0.00

0.00 1,656.56
1,656.56
91282CHQ7 UNITED STATES TREASURY

4.125 07/31/2028
08/24/2023
08/25/2023
350,000.00
345,953.13

0.00 0.00
345,953.13
4,825.79

0.00 6,022.27
1,196.48

0.00 0.00

0.00 1,196.48
1,196.48
91282CJA0 UNITED STATES TREASURY

4.625 09/30/2028
10/18/2023
10/19/2023
350,000.00
345,912.11

0.00 0.00
345,912.11
2,742.14

0.00 4,068.99
1,326.84

0.00 0.00

0.00 1,326.84
1,326.84
91282CJC6 UNITED STATES TREASURY

4.625 10/15/2026
07/19/2024
07/22/2024
500,000.00
502,148.44

0.00 0.00
502,148.44
2,969.60

0.00 4,865.10
1,895.49

0.00 0.00

0.00 1,895.49
1,895.49
91282CJR3 UNITED STATES TREASURY

3.75 12/31/2028
01/22/2024
01/23/2024
400,000.00
395,468.75

0.00 0.00
395,468.75
6,298.34
7,500.00

40.76 1,242.42

0.00 0.00

0.00 1,242.42
1,242.42
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029
02/12/2024
02/13/2024
650,000.00
646,013.67

0.00 0.00
646,013.67
8,690.61

0.00 10,845.30
2,154.70

0.00 0.00

0.00 2,154.70
2,154.70
91282CKG5 UNITED STATES TREASURY

4.125 03/31/2029
07/16/2024
07/17/2024
650,000.00
650,000.00

0.00 0.00
650,000.00
4,542.01

0.00 6,739.75
2,197.75

0.00 0.00

0.00 0.00
507,812.50

61.48 11,250.00
1,905.74
13,094.26

0.00 0.00

0.00 13,094.26
13,094.26
91282CKV2 UNITED STATES TREASURY

4.625 06/15/2027
07/08/2024
07/09/2024
650,000.00
653,833.98

0.00 0.00
653,833.98
13,875.00
15,031.25
1,314.21
2,470.46

0.00 0.00

0.00 2,470.46
2,470.46
91282CKX8 UNITED STATES TREASURY

4.25 06/30/2029
07/08/2024
07/09/2024
650,000.00
650,355.47

0.00 0.00
650,355.47
11,599.45
13,812.50

75.07 2,288.12

0.00 0.00

0.00 2,288.12
2,288.12
91282CKZ3 UNITED STATES TREASURY

4.375 07/15/2027
07/16/2024
07/17/2024
650,000.00
652,462.89

0.00 0.00
652,462.89
10,762.26

0.00 13,118.96
2,356.70

0.00 0.00

0.00 2,356.70
2,356.70
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029
07/29/2024
07/31/2024
500,000.00
498,632.81

0.00 0.00
498,632.81
6,685.08

0.00 8,342.54
1,657.46

0.00 0.00

0.00 1,657.46
1,657.46
91282CLK5 UNITED STATES TREASURY

3.625 08/31/2029
09/17/2024
09/18/2024
500,000.00
504,218.75

0.00 0.00
504,218.75
4,580.50

0.00 6,058.08
1,477.58

0.00 0.00

0.00 1,477.58
1,477.58
91282CMA6 UNITED STATES TREASURY

4.125 11/30/2029
12/19/2024
12/20/2024
700,000.00
691,386.72

0.00 0.00
691,386.72

78.89 14,437.50
2,445.70
16,804.30

0.00 0.00

0.00 16,804.30
16,804.30
91282CMG3 UNITED STATES TREASURY

4.25 01/31/2030
05/29/2025
05/30/2025
500,000.00
504,570.31

0.00 0.00
504,570.31
7,102.90

0.00 8,863.95
1,761.05

0.00 0.00

0.00 1,761.05
1,761.05
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030
04/07/2025
04/08/2025
500,000.00
505,625.00

0.00 0.00
505,625.00
3,387.98

0.00 5,027.32
1,639.34

0.00 0.00

3.875 04/30/2030
05/29/2025
05/30/2025
500,000.00
496,367.19

0.00 0.00
496,367.19
1,684.78

0.00 3,264.27
1,579.48

0.00 0.00

0.00 1,579.48
1,579.48
91324PEG3 UNITEDHEALTH GROUP INC

3.7 05/15/2027
09/13/2022
09/15/2022
250,000.00
244,607.50

0.00 0.00
244,607.50
411.11

0.00 1,181.94
770.83

0.00 0.00

0.00 770.83
770.83
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029
10/17/2024
10/24/2024
210,000.00
209,968.79

0.00 0.00
209,968.79
400.40
750.75
400.40
750.75

0.00 0.00

0.00 750.75
750.75
Total Fixed Income 39,081,065.96
38,484,871.78
99,997.80
(77,960.45)
38,506,909.13
350,710.52
156,486.16
357,388.46
163,164.10

0.00 0.00

0.00 163,164.10 163,164.10
TOTAL PORTFOLIO 39,323,475.29
38,630,134.13
337,787.84
(181,010.66)
38,749,318.46
350,710.52
159,800.21
357,388.46
166,478.15

0.00 0.00

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount JUNE 2025
06/30/2025 Coupon 9128287B0 0.00 UNITED STATES TREASURY 1.875 06/30/2026 6,093.75 6,093.75 06/30/2025 Coupon 91282CJR3 0.00 UNITED STATES TREASURY 3.75 12/31/2028 7,500.00 7,500.00 06/30/2025 Coupon 91282CGC9 0.00 UNITED STATES TREASURY 3.875 12/31/2027 6,781.25 6,781.25 06/30/2025 Coupon 91282CHK0 0.00 UNITED STATES TREASURY 4.0 06/30/2028 10,000.00 10,000.00 06/30/2025 Coupon 91282CKX8 0.00 UNITED STATES TREASURY 4.25 06/30/2029 13,812.50 13,812.50 June 2025 Total 44,187.50 44,187.50
JULY 2025
07/01/2025 Dividend 31846V203 241,938.13 FIRST AMER:GVT OBLG Y 471.20 471.20 07/09/2025 Coupon 89236TNA9 330,000.00 TOYOTA MOTOR CREDIT CORP 4.95 01/09/2030 8,167.50 8,167.50 07/10/2025 Coupon 3133ERKR1 650,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.625 07/10/2026 15,031.25 15,031.25
07/14/2025 Coupon 459058KT9 225,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.5 07/12/2028 3,937.50 3,937.50
07/14/2025 Coupon 45950KDD9 230,000.00 INTERNATIONAL FINANCE CORP 4.5 07/13/2028 5,175.00 5,175.00
07/15/2025 Coupon 02582JKH2 110,000.00 AMXCA 2024-1 A 5.23 04/16/2029 479.42 479.42 07/15/2025 Coupon 05522RDJ4 135,000.00 BACCT 2024-1 A 4.93 05/15/2029 554.63 554.63 07/15/2025 Coupon 161571HT4 280,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,204.00 1,204.00 07/15/2025 Coupon 437921AD1 125,000.00 HAROT 252 A3 4.15 10/15/2029 432.29 432.29 07/15/2025 Coupon 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 353.46 353.46 07/15/2025 Coupon 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 1,991.82 1,991.82 07/15/2025 Principal Paydown 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 28,943.42 28,943.42 07/15/2025 Coupon 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 281.67 281.67 07/15/2025 Coupon 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 1,325.96 1,325.96 07/15/2025 Principal Paydown 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 20,829.75 20,829.75 07/15/2025 Coupon 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 180.20 180.20 07/15/2025 Principal Paydown 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 4,235.32 4,235.32 07/15/2025 Coupon 47800DAD6 185,000.00 JDOT 2025 A3 4.23 09/17/2029 652.13 652.13 07/15/2025 Coupon 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 310.37 310.37 07/15/2025 Coupon 89231HAD8 120,000.00 TAOT 2025-B A3 4.34 11/15/2029 434.00 434.00 07/15/2025 Coupon 89238FAD5 51,362.19 TAOT 2022-B A3 2.93 09/15/2026 125.51 125.51 CONFIDENTIAL | 33
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/15/2025 Principal Paydown 89238FAD5 51,362.19 TAOT 2022-B A3 2.93 09/15/2026 13,328.76 13,328.76 07/15/2025 Coupon 89239TAD4 120,000.00 TAOT 2024-D A3 4.4 06/15/2029 440.00 440.00 07/15/2025 Coupon 91282CKZ3 650,000.00 UNITED STATES TREASURY 4.375 07/15/2027 14,218.75 14,218.75 07/15/2025 Coupon 92970QAE5 210,000.00 WFCIT 2024-2 A 4.29 10/15/2029 750.75 750.75 07/17/2025 Coupon 61747YET8 200,000.00 MORGAN STANLEY 4.679 07/17/2026 4,679.00 4,679.00 07/17/2025 Effective Maturity 61747YET8 200,000.00 MORGAN STANLEY 4.679 07/17/2026 200,000.00 200,000.00 07/17/2025 Coupon 713448FX1 400,000.00 PEPSICO INC 4.5 07/17/2029 9,000.00 9,000.00 07/18/2025 Coupon 43815PAC3 67,897.55 HAROT 2022-2 A3 3.73 07/20/2026 211.05 211.05 07/18/2025 Principal Paydown 43815PAC3 67,897.55 HAROT 2022-2 A3 3.73 07/20/2026 14,725.69 14,725.69 07/21/2025 Coupon 61747YEC5 250,000.00 MORGAN STANLEY 1.512 07/20/2027 1,890.00 1,890.00 07/22/2025 Coupon 06051GJS9 250,000.00 BANK OF AMERICA CORP 1.734 07/22/2027 2,167.50 2,167.50 07/23/2025 Coupon 3133ERMB4 650,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.25 07/23/2027 13,812.50 13,812.50
07/23/2025 Coupon 46647PEB8 300,000.00 JPMORGAN CHASE & CO 5.012 01/23/2030 7,518.00 7,518.00 07/24/2025 Coupon 06051GMK2 380,000.00 BANK OF AMERICA CORP 4.979 01/24/2029 9,460.10 9,460.10 07/24/2025 Coupon 06406RBJ5 350,000.00 BANK OF NEW YORK MELLON CORP 4.414 07/24/2026 7,724.50 7,724.50
07/24/2025 Effective Maturity 06406RBJ5 350,000.00 BANK OF NEW YORK MELLON CORP 4.414 07/24/2026 350,000.00 350,000.00
07/25/2025 Coupon 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 596.25 596.25 07/25/2025 Coupon 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 518.00 518.00 07/25/2025 Coupon 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 939.96 939.96 07/25/2025 Principal Paydown 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 730.64 730.64 07/25/2025 Coupon 3137BVZ82 350,000.00 FHMS K-063 A2 3.43 01/25/2027 1,000.42 1,000.42 07/25/2025 Coupon 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 909.13 909.13 07/25/2025 Coupon 3137FAWS3 310,000.00 FHMS K-067 A2 3.194 07/25/2027 825.12 825.12 07/25/2025 Coupon 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 1,303.17 1,303.17 07/25/2025 Principal Paydown 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 872.10 872.10 07/25/2025 Coupon 3137FG6X8 510,000.00 FHMS K-077 A2 3.85 05/25/2028 1,636.25 1,636.25 07/25/2025 Coupon 3137FKSH0 500,000.00 FHMS K-086 A2 3.859 11/25/2028 1,607.92 1,607.92 07/25/2025 Coupon 3137FKUP9 400,000.00 FHMS K-087 A2 3.771 12/25/2028 1,257.00 1,257.00 07/25/2025 Coupon 3137FLMV3 400,000.00 FHMS K-090 A2 3.422 02/25/2029 1,140.67 1,140.67 CONFIDENTIAL | 34
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/25/2025 Coupon 3137FLYV0 250,000.00 FHMS K-092 A2 3.298 04/25/2029 687.08 687.08 07/25/2025 Coupon 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 863.43 863.43 07/25/2025 Principal Paydown 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 407.85 407.85 07/25/2025 Coupon 3137H5YC5 525,000.00 FHMS K-748 A2 2.26 01/25/2029 988.75 988.75 07/28/2025 Coupon 09290DAH4 475,000.00 BLACKROCK INC 4.6 07/26/2027 10,925.00 10,925.00 07/31/2025 Coupon 69371RS80 365,000.00 PACCAR FINANCIAL CORP 4.6 01/31/2029 8,395.00 8,395.00 07/31/2025 Coupon 91282CGH8 500,000.00 UNITED STATES TREASURY 3.5 01/31/2028 8,750.00 8,750.00 07/31/2025 Coupon 91282CHQ7 350,000.00 UNITED STATES TREASURY 4.125 07/31/2028 7,218.75 7,218.75 07/31/2025 Coupon 91282CJW2 650,000.00 UNITED STATES TREASURY 4.0 01/31/2029 13,000.00 13,000.00 07/31/2025 Coupon 91282CLC3 500,000.00 UNITED STATES TREASURY 4.0 07/31/2029 10,000.00 10,000.00 07/31/2025 Coupon 91282CMG3 500,000.00 UNITED STATES TREASURY 4.25 01/31/2030 10,625.00 10,625.00 July 2025 Total 634,544.73 195,695.72 830,240.45
AUGUST 2025
08/01/2025 Coupon 13063EGT7 395,000.00 CALIFORNIA STATE 4.5 08/01/2029 8,887.50 8,887.50 08/11/2025 Coupon 89236TMK8 450,000.00 TOYOTA MOTOR CREDIT CORP 4.55 08/09/2029 10,237.50 10,237.50 08/12/2025 Coupon 14913R3A3 250,000.00 CATERPILLAR FINANCIAL SERVICES CORP 3.6 08/12/2027 4,500.00 4,500.00
08/12/2025 Coupon 532457CV8 500,000.00 ELI LILLY AND CO 4.75 02/12/2030 11,875.00 11,875.00 08/13/2025 Coupon 713448FQ6 65,000.00 PEPSICO INC 4.55 02/13/2026 1,478.75 1,478.75 08/15/2025 Coupon 02582JKH2 110,000.00 AMXCA 2024-1 A 5.23 04/16/2029 479.42 479.42 08/15/2025 Coupon 05522RDJ4 135,000.00 BACCT 2024-1 A 4.93 05/15/2029 554.63 554.63 08/15/2025 Coupon 161571HT4 280,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,204.00 1,204.00 08/15/2025 Coupon 171239AL0 450,000.00 CHUBB INA HOLDINGS LLC 4.65 08/15/2029 10,462.50 10,462.50 08/15/2025 Coupon 437921AD1 125,000.00 HAROT 252 A3 4.15 10/15/2029 432.29 432.29 08/15/2025 Coupon 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 353.46 353.46 08/15/2025 Coupon 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 1,859.65 1,859.65 08/15/2025 Principal Paydown 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 28,057.25 28,057.25 08/15/2025 Coupon 4581X0EN4 400,000.00 INTER-AMERICAN DEVELOPMENT BANK 4.125 02/15/2029 8,250.00 8,250.00
08/15/2025 Coupon 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 281.67 281.67 08/15/2025 Coupon 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 1,230.83 1,230.83 08/15/2025 Principal Paydown 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 15,816.25 15,816.25 CONFIDENTIAL | 35
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/15/2025 Coupon 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 162.23 162.23 08/15/2025 Principal Paydown 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 4,194.27 4,194.27 08/15/2025 Coupon 47800DAD6 185,000.00 JDOT 2025 A3 4.23 09/17/2029 652.13 652.13 08/15/2025 Coupon 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 310.37 310.37 08/15/2025 Coupon 89231HAD8 120,000.00 TAOT 2025-B A3 4.34 11/15/2029 434.00 434.00 08/15/2025 Coupon 89238FAD5 51,362.19 TAOT 2022-B A3 2.93 09/15/2026 92.96 92.96 08/15/2025 Principal Paydown 89238FAD5 51,362.19 TAOT 2022-B A3 2.93 09/15/2026 12,967.99 12,967.99 08/15/2025 Coupon 89239TAD4 120,000.00 TAOT 2024-D A3 4.4 06/15/2029 440.00 440.00 08/15/2025 Coupon 9128282A7 650,000.00 UNITED STATES TREASURY 1.5 08/15/2026 4,875.00 4,875.00 08/15/2025 Coupon 92970QAE5 210,000.00 WFCIT 2024-2 A 4.29 10/15/2029 750.75 750.75 08/18/2025 Coupon 43815PAC3 67,897.55 HAROT 2022-2 A3 3.73 07/20/2026 165.28 165.28 08/18/2025 Principal Paydown 43815PAC3 67,897.55 HAROT 2022-2 A3 3.73 07/20/2026 14,288.95 14,288.95 08/22/2025 Coupon 023135BC9 250,000.00 AMAZON.COM INC 3.15 08/22/2027 3,937.50 3,937.50 08/25/2025 Coupon 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 397.50 397.50 08/25/2025 Coupon 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 518.00 518.00 08/25/2025 Coupon 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 937.93 937.93 08/25/2025 Principal Paydown 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 692.55 692.55 08/25/2025 Coupon 3137BVZ82 350,000.00 FHMS K-063 A2 3.43 01/25/2027 1,000.42 1,000.42 08/25/2025 Coupon 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 909.13 909.13 08/25/2025 Coupon 3137FAWS3 310,000.00 FHMS K-067 A2 3.194 07/25/2027 825.12 825.12 08/25/2025 Coupon 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 1,300.86 1,300.86 08/25/2025 Principal Paydown 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 821.12 821.12 08/25/2025 Coupon 3137FG6X8 510,000.00 FHMS K-077 A2 3.85 05/25/2028 1,636.25 1,636.25 08/25/2025 Coupon 3137FKSH0 500,000.00 FHMS K-086 A2 3.859 11/25/2028 1,607.92 1,607.92 08/25/2025 Coupon 3137FKUP9 400,000.00 FHMS K-087 A2 3.771 12/25/2028 1,257.00 1,257.00 08/25/2025 Coupon 3137FLMV3 400,000.00 FHMS K-090 A2 3.422 02/25/2029 1,140.67 1,140.67 08/25/2025 Coupon 3137FLYV0 250,000.00 FHMS K-092 A2 3.298 04/25/2029 687.08 687.08 08/25/2025 Coupon 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 862.42 862.42 08/25/2025 Principal Paydown 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 376.77 376.77 08/25/2025 Coupon 3137H5YC5 525,000.00 FHMS K-748 A2 2.26 01/25/2029 988.75 988.75 08/26/2025 Coupon 17275RBQ4 300,000.00 CISCO SYSTEMS INC 4.8 02/26/2027 7,200.00 7,200.00 08/26/2025 Coupon 17275RBR2 140,000.00 CISCO SYSTEMS INC 4.85 02/26/2029 3,395.00 3,395.00 CONFIDENTIAL | 36
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount August 2025 Total 77,215.14 98,571.43 175,786.57
SEPTEMBER 2025
09/02/2025 Coupon 91282CFH9 650,000.00 UNITED STATES TREASURY 3.125 08/31/2027 10,156.25 10,156.25 09/02/2025 Coupon 91282CGP0 500,000.00 UNITED STATES TREASURY 4.0 02/29/2028 10,000.00 10,000.00 09/02/2025 Coupon 91282CLK5 500,000.00 UNITED STATES TREASURY 3.625 08/31/2029 9,062.50 9,062.50 09/05/2025 Coupon 02665WFY2 325,000.00 AMERICAN HONDA FINANCE CORP 4.8 03/05/2030 7,800.00 7,800.00
09/08/2025 Coupon 24422EWJ4 125,000.00 JOHN DEERE CAPITAL CORP 4.05 09/08/2025 2,531.25 2,531.25 09/08/2025 Final Maturity 24422EWJ4 125,000.00 JOHN DEERE CAPITAL CORP 4.05 09/08/2025 125,000.00 125,000.00 09/08/2025 Coupon 3130AWTR1 300,000.00 FEDERAL HOME LOAN BANKS 4.375 09/08/2028 6,562.50 6,562.50
09/10/2025 Coupon 3130ATS57 500,000.00 FEDERAL HOME LOAN BANKS 4.5 03/10/2028 11,250.00 11,250.00 09/15/2025 Coupon 02582JKH2 110,000.00 AMXCA 2024-1 A 5.23 04/16/2029 479.42 479.42 09/15/2025 Coupon 05522RDJ4 135,000.00 BACCT 2024-1 A 4.93 05/15/2029 554.63 554.63 09/15/2025 Coupon 161571HT4 280,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,204.00 1,204.00 09/15/2025 Coupon 24422EWK1 250,000.00 JOHN DEERE CAPITAL CORP 4.15 09/15/2027 5,187.50 5,187.50 09/15/2025 Coupon 437921AD1 125,000.00 HAROT 252 A3 4.15 10/15/2029 432.29 432.29 09/15/2025 Coupon 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 353.46 353.46 09/15/2025 Coupon 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 1,731.52 1,731.52 09/15/2025 Principal Paydown 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 27,519.50 27,519.50 09/15/2025 Coupon 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 281.67 281.67 09/15/2025 Coupon 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 1,158.61 1,158.61 09/15/2025 Principal Paydown 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 12,793.88 12,793.88 09/15/2025 Coupon 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 144.44 144.44 09/15/2025 Principal Paydown 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 3,605.11 3,605.11 09/15/2025 Coupon 47800DAD6 185,000.00 JDOT 2025 A3 4.23 09/17/2029 652.13 652.13 09/15/2025 Coupon 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 310.37 310.37 09/15/2025 Coupon 89231HAD8 120,000.00 TAOT 2025-B A3 4.34 11/15/2029 434.00 434.00 09/15/2025 Coupon 89238FAD5 51,362.19 TAOT 2022-B A3 2.93 09/15/2026 61.30 61.30 09/15/2025 Principal Paydown 89238FAD5 51,362.19 TAOT 2022-B A3 2.93 09/15/2026 12,684.70 12,684.70 09/15/2025 Coupon 89239TAD4 120,000.00 TAOT 2024-D A3 4.4 06/15/2029 440.00 440.00 09/15/2025 Coupon 92970QAE5 210,000.00 WFCIT 2024-2 A 4.29 10/15/2029 750.75 750.75 CONFIDENTIAL | 37
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/18/2025 Coupon 43815PAC3 67,897.55 HAROT 2022-2 A3 3.73 07/20/2026 120.86 120.86 09/18/2025 Principal Paydown 43815PAC3 67,897.55 HAROT 2022-2 A3 3.73 07/20/2026 13,945.09 13,945.09 09/18/2025 Coupon 857477CL5 300,000.00 STATE STREET CORP 4.993 03/18/2027 7,489.50 7,489.50 09/22/2025 Coupon 3133EPWK7 500,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 09/22/2028 11,250.00 11,250.00
09/22/2025 Coupon 459058LR2 235,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 4,846.88 4,846.88
09/24/2025 Coupon 3135G0Q22 650,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

1.875 09/24/2026 6,093.75 6,093.75
09/25/2025 Coupon 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 397.50 397.50 09/25/2025 Coupon 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 518.00 518.00 09/25/2025 Coupon 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 935.99 935.99 09/25/2025 Principal Paydown 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 694.74 694.74 09/25/2025 Coupon 3137BVZ82 350,000.00 FHMS K-063 A2 3.43 01/25/2027 1,000.42 1,000.42 09/25/2025 Coupon 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 909.13 909.13 09/25/2025 Coupon 3137FAWS3 310,000.00 FHMS K-067 A2 3.194 07/25/2027 825.12 825.12 09/25/2025 Coupon 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 1,298.68 1,298.68 09/25/2025 Principal Paydown 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 823.80 823.80 09/25/2025 Coupon 3137FG6X8 510,000.00 FHMS K-077 A2 3.85 05/25/2028 1,636.25 1,636.25 09/25/2025 Coupon 3137FKSH0 500,000.00 FHMS K-086 A2 3.859 11/25/2028 1,607.92 1,607.92 09/25/2025 Coupon 3137FKUP9 400,000.00 FHMS K-087 A2 3.771 12/25/2028 1,257.00 1,257.00 09/25/2025 Coupon 3137FLMV3 400,000.00 FHMS K-090 A2 3.422 02/25/2029 1,140.67 1,140.67 09/25/2025 Coupon 3137FLYV0 250,000.00 FHMS K-092 A2 3.298 04/25/2029 687.08 687.08 09/25/2025 Coupon 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 861.48 861.48 09/25/2025 Principal Paydown 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 377.88 377.88 09/25/2025 Coupon 3137H5YC5 525,000.00 FHMS K-748 A2 2.26 01/25/2029 988.75 988.75 09/30/2025 Coupon 91282CEF4 650,000.00 UNITED STATES TREASURY 2.5 03/31/2027 8,125.00 8,125.00 09/30/2025 Coupon 91282CFL0 350,000.00 UNITED STATES TREASURY 3.875 09/30/2029 6,781.25 6,781.25 09/30/2025 Coupon 91282CGT2 350,000.00 UNITED STATES TREASURY 3.625 03/31/2028 6,343.75 6,343.75 09/30/2025 Coupon 91282CJA0 350,000.00 UNITED STATES TREASURY 4.625 09/30/2028 8,093.75 8,093.75 09/30/2025 Coupon 91282CKG5 650,000.00 UNITED STATES TREASURY 4.125 03/31/2029 13,406.25 13,406.25 09/30/2025 Coupon 91282CMU2 500,000.00 UNITED STATES TREASURY 4.0 03/31/2030 10,000.00 10,000.00 CONFIDENTIAL | 38
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount September 2025
Total 197,444.69 168,153.53 365,598.22
OCTOBER 2025
10/01/2025 Coupon 74340XBK6 250,000.00 PROLOGIS LP 3.25 10/01/2026 4,062.50 4,062.50 10/10/2025 Coupon 3133ERAK7 400,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.375 04/10/2029 8,750.00 8,750.00
10/15/2025 Coupon 02582JKH2 110,000.00 AMXCA 2024-1 A 5.23 04/16/2029 479.42 479.42 10/15/2025 Coupon 05522RDJ4 135,000.00 BACCT 2024-1 A 4.93 05/15/2029 554.63 554.63 10/15/2025 Coupon 161571HT4 280,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,204.00 1,204.00 10/15/2025 Coupon 437921AD1 125,000.00 HAROT 252 A3 4.15 10/15/2029 432.29 432.29 10/15/2025 Coupon 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 353.46 353.46 10/15/2025 Coupon 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 1,605.85 1,605.85 10/15/2025 Principal Paydown 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 26,323.92 26,323.92 10/15/2025 Coupon 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 281.67 281.67 10/15/2025 Coupon 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 1,100.18 1,100.18 10/15/2025 Principal Paydown 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 14,952.96 14,952.96 10/15/2025 Coupon 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 129.15 129.15 10/15/2025 Principal Paydown 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 2,679.03 2,679.03 10/15/2025 Coupon 47800DAD6 185,000.00 JDOT 2025 A3 4.23 09/17/2029 652.13 652.13 10/15/2025 Coupon 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 310.37 310.37 10/15/2025 Coupon 89231HAD8 120,000.00 TAOT 2025-B A3 4.34 11/15/2029 434.00 434.00 10/15/2025 Coupon 89238FAD5 51,362.19 TAOT 2022-B A3 2.93 09/15/2026 30.33 30.33 10/15/2025 Principal Paydown 89238FAD5 51,362.19 TAOT 2022-B A3 2.93 09/15/2026 12,180.83 12,180.83 10/15/2025 Coupon 89239TAD4 120,000.00 TAOT 2024-D A3 4.4 06/15/2029 440.00 440.00 10/15/2025 Coupon 91282CJC6 500,000.00 UNITED STATES TREASURY 4.625 10/15/2026 11,562.50 11,562.50 10/15/2025 Coupon 92970QAE5 210,000.00 WFCIT 2024-2 A 4.29 10/15/2029 750.75 750.75 10/20/2025 Coupon 43815PAC3 67,897.55 HAROT 2022-2 A3 3.73 07/20/2026 77.52 77.52 10/20/2025 Principal Paydown 43815PAC3 67,897.55 HAROT 2022-2 A3 3.73 07/20/2026 13,434.54 13,434.54 10/22/2025 Coupon 46647PCB0 250,000.00 JPMORGAN CHASE & CO 1.578 04/22/2027 1,972.50 1,972.50 10/27/2025 Coupon 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 397.50 397.50 10/27/2025 Coupon 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 518.00 518.00 CONFIDENTIAL | 39
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/27/2025 Coupon 3133EPGW9 250,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

3.875 04/25/2028 4,843.75 4,843.75
10/27/2025 Coupon 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 934.06 934.06 10/27/2025 Principal Paydown 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 737.08 737.08 10/27/2025 Coupon 3137BVZ82 350,000.00 FHMS K-063 A2 3.43 01/25/2027 1,000.42 1,000.42 10/27/2025 Coupon 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 909.13 909.13 10/27/2025 Coupon 3137FAWS3 310,000.00 FHMS K-067 A2 3.194 07/25/2027 825.12 825.12 10/27/2025 Coupon 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 1,296.49 1,296.49 10/27/2025 Principal Paydown 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 880.01 880.01 10/27/2025 Coupon 3137FG6X8 510,000.00 FHMS K-077 A2 3.85 05/25/2028 1,636.25 1,636.25 10/27/2025 Coupon 3137FKSH0 500,000.00 FHMS K-086 A2 3.859 11/25/2028 1,607.92 1,607.92 10/27/2025 Coupon 3137FKUP9 400,000.00 FHMS K-087 A2 3.771 12/25/2028 1,257.00 1,257.00 10/27/2025 Coupon 3137FLMV3 400,000.00 FHMS K-090 A2 3.422 02/25/2029 1,140.67 1,140.67 10/27/2025 Coupon 3137FLYV0 250,000.00 FHMS K-092 A2 3.298 04/25/2029 687.08 687.08 10/27/2025 Coupon 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 860.54 860.54 10/27/2025 Principal Paydown 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 411.07 411.07 10/27/2025 Coupon 3137H5YC5 525,000.00 FHMS K-748 A2 2.26 01/25/2029 988.75 988.75 10/30/2025 Coupon 3133ERDH1 500,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.75 04/30/2029 11,875.00 11,875.00
10/31/2025 Coupon 91282CFU0 650,000.00 UNITED STATES TREASURY 4.125 10/31/2027 13,406.25 13,406.25 10/31/2025 Coupon 91282CMZ1 500,000.00 UNITED STATES TREASURY 3.875 04/30/2030 9,687.50 9,687.50 October 2025 Total 71,599.44 89,054.63 160,654.07
NOVEMBER 2025
11/03/2025 Coupon 194162AT0 210,000.00 COLGATE-PALMOLIVE CO 4.2 05/01/2030 4,385.50 4,385.50 11/03/2025 Coupon 74456QBU9 300,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.7 05/01/2028 5,550.00 5,550.00
11/17/2025 Coupon 02582JKH2 110,000.00 AMXCA 2024-1 A 5.23 04/16/2029 479.42 479.42 11/17/2025 Coupon 05522RDJ4 135,000.00 BACCT 2024-1 A 4.93 05/15/2029 554.63 554.63 11/17/2025 Coupon 14913UAU4 150,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.7 11/15/2029 3,525.00 3,525.00
11/17/2025 Coupon 161571HT4 280,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,204.00 1,204.00 11/17/2025 Coupon 437921AD1 125,000.00 HAROT 252 A3 4.15 10/15/2029 432.29 432.29 CONFIDENTIAL | 40
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/17/2025 Coupon 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 353.46 353.46 11/17/2025 Coupon 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 1,485.63 1,485.63 11/17/2025 Principal Paydown 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 25,673.76 25,673.76 11/17/2025 Coupon 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 281.67 281.67 11/17/2025 Coupon 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 1,031.90 1,031.90 11/17/2025 Principal Paydown 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 16,023.77 16,023.77 11/17/2025 Coupon 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 117.79 117.79 11/17/2025 Principal Paydown 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 2,936.41 2,936.41 11/17/2025 Coupon 47800DAD6 185,000.00 JDOT 2025 A3 4.23 09/17/2029 652.13 652.13 11/17/2025 Coupon 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 310.37 310.37 11/17/2025 Coupon 58933YBH7 300,000.00 MERCK & CO INC 4.05 05/17/2028 6,075.00 6,075.00 11/17/2025 Coupon 89231HAD8 120,000.00 TAOT 2025-B A3 4.34 11/15/2029 434.00 434.00 11/17/2025 Coupon 89238FAD5 51,362.19 TAOT 2022-B A3 2.93 09/15/2026 0.59 0.59 11/17/2025 Effective Maturity 89238FAD5 51,362.19 TAOT 2022-B A3 2.93 09/15/2026 239.75 239.75 11/17/2025 Coupon 89239TAD4 120,000.00 TAOT 2024-D A3 4.4 06/15/2029 440.00 440.00 11/17/2025 Coupon 91324PEG3 250,000.00 UNITEDHEALTH GROUP INC 3.7 05/15/2027 4,625.00 4,625.00 11/17/2025 Coupon 92970QAE5 210,000.00 WFCIT 2024-2 A 4.29 10/15/2029 750.75 750.75 11/18/2025 Coupon 43815PAC3 67,897.55 HAROT 2022-2 A3 3.73 07/20/2026 35.76 35.76 11/18/2025 Effective Maturity 43815PAC3 67,897.55 HAROT 2022-2 A3 3.73 07/20/2026 11,503.28 11,503.28 11/20/2025 Coupon 3133ERFJ5 450,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 05/20/2027 10,125.00 10,125.00
11/21/2025 Coupon 00287YBX6 400,000.00 ABBVIE INC 3.2 11/21/2029 6,400.00 6,400.00 11/25/2025 Coupon 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 397.50 397.50 11/25/2025 Coupon 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 518.00 518.00 11/25/2025 Coupon 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 932.00 932.00 11/25/2025 Principal Paydown 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 699.27 699.27 11/25/2025 Coupon 3137BVZ82 350,000.00 FHMS K-063 A2 3.43 01/25/2027 1,000.42 1,000.42 11/25/2025 Coupon 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 909.13 909.13 11/25/2025 Coupon 3137FAWS3 310,000.00 FHMS K-067 A2 3.194 07/25/2027 825.12 825.12 11/25/2025 Coupon 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 1,294.15 1,294.15 11/25/2025 Principal Paydown 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 829.36 829.36 11/25/2025 Coupon 3137FG6X8 510,000.00 FHMS K-077 A2 3.85 05/25/2028 1,636.25 1,636.25 CONFIDENTIAL | 41
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/25/2025 Coupon 3137FKSH0 500,000.00 FHMS K-086 A2 3.859 11/25/2028 1,607.92 1,607.92 11/25/2025 Coupon 3137FKUP9 400,000.00 FHMS K-087 A2 3.771 12/25/2028 1,257.00 1,257.00 11/25/2025 Coupon 3137FLMV3 400,000.00 FHMS K-090 A2 3.422 02/25/2029 1,140.67 1,140.67 11/25/2025 Coupon 3137FLYV0 250,000.00 FHMS K-092 A2 3.298 04/25/2029 687.08 687.08 11/25/2025 Coupon 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 859.52 859.52 11/25/2025 Principal Paydown 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 380.23 380.23 11/25/2025 Coupon 3137H5YC5 525,000.00 FHMS K-748 A2 2.26 01/25/2029 988.75 988.75 November 2025
Total 58,285.81 63,303.36 121,589.17
DECEMBER 2025
12/01/2025 Coupon 26442CAS3 250,000.00 DUKE ENERGY CAROLINAS LLC 2.95 12/01/2026 3,687.50 3,687.50
12/01/2025 Coupon 91282CHE4 500,000.00 UNITED STATES TREASURY 3.625 05/31/2028 9,062.50 9,062.50 12/01/2025 Coupon 91282CKT7 500,000.00 UNITED STATES TREASURY 4.5 05/31/2029 11,250.00 11,250.00 12/01/2025 Coupon 91282CMA6 700,000.00 UNITED STATES TREASURY 4.125 11/30/2029 14,437.50 14,437.50 12/08/2025 Coupon 3130AXQK7 650,000.00 FEDERAL HOME LOAN BANKS 4.75 12/08/2028 15,437.50 15,437.50 12/15/2025 Coupon 02582JKH2 110,000.00 AMXCA 2024-1 A 5.23 04/16/2029 479.42 479.42 12/15/2025 Coupon 05522RDJ4 135,000.00 BACCT 2024-1 A 4.93 05/15/2029 554.63 554.63 12/15/2025 Coupon 161571HT4 280,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,204.00 1,204.00 12/15/2025 Coupon 341081GT8 300,000.00 FLORIDA POWER & LIGHT CO 5.15 06/15/2029 7,725.00 7,725.00 12/15/2025 Coupon 437921AD1 125,000.00 HAROT 252 A3 4.15 10/15/2029 432.29 432.29 12/15/2025 Coupon 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 353.46 353.46 12/15/2025 Coupon 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 1,368.39 1,368.39 12/15/2025 Principal Paydown 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 24,273.29 24,273.29 12/15/2025 Coupon 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 281.67 281.67 12/15/2025 Coupon 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 958.72 958.72 12/15/2025 Principal Paydown 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 11,899.36 11,899.36 12/15/2025 Coupon 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 105.33 105.33 12/15/2025 Principal Paydown 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 2,388.11 2,388.11 12/15/2025 Coupon 47800DAD6 185,000.00 JDOT 2025 A3 4.23 09/17/2029 652.13 652.13 12/15/2025 Coupon 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 310.37 310.37 12/15/2025 Coupon 89231HAD8 120,000.00 TAOT 2025-B A3 4.34 11/15/2029 434.00 434.00 CONFIDENTIAL | 42
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/15/2025 Coupon 89239TAD4 120,000.00 TAOT 2024-D A3 4.4 06/15/2029 440.00 440.00 12/15/2025 Coupon 91282CKV2 650,000.00 UNITED STATES TREASURY 4.625 06/15/2027 15,031.25 15,031.25 12/15/2025 Coupon 92970QAE5 210,000.00 WFCIT 2024-2 A 4.29 10/15/2029 750.75 750.75 12/25/2025 Coupon 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 397.50 397.50 12/25/2025 Coupon 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 518.00 518.00 12/25/2025 Coupon 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 930.05 930.05 12/25/2025 Principal Paydown 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 741.45 741.45 12/25/2025 Coupon 3137BVZ82 350,000.00 FHMS K-063 A2 3.43 01/25/2027 1,000.42 1,000.42 12/25/2025 Coupon 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 909.13 909.13 12/25/2025 Coupon 3137FAWS3 310,000.00 FHMS K-067 A2 3.194 07/25/2027 825.12 825.12 12/25/2025 Coupon 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 1,291.95 1,291.95 12/25/2025 Principal Paydown 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 885.38 885.38 12/25/2025 Coupon 3137FG6X8 510,000.00 FHMS K-077 A2 3.85 05/25/2028 1,636.25 1,636.25 12/25/2025 Coupon 3137FKSH0 500,000.00 FHMS K-086 A2 3.859 11/25/2028 1,607.92 1,607.92 12/25/2025 Coupon 3137FKUP9 400,000.00 FHMS K-087 A2 3.771 12/25/2028 1,257.00 1,257.00 12/25/2025 Coupon 3137FLMV3 400,000.00 FHMS K-090 A2 3.422 02/25/2029 1,140.67 1,140.67 12/25/2025 Coupon 3137FLYV0 250,000.00 FHMS K-092 A2 3.298 04/25/2029 687.08 687.08 12/25/2025 Coupon 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 858.57 858.57 12/25/2025 Principal Paydown 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 413.28 413.28 12/25/2025 Coupon 3137H5YC5 525,000.00 FHMS K-748 A2 2.26 01/25/2029 988.75 988.75 12/26/2025 Coupon 437076DC3 500,000.00 HOME DEPOT INC 4.75 06/25/2029 11,875.00 11,875.00 12/31/2025 Coupon 9128287B0 650,000.00 UNITED STATES TREASURY 1.875 06/30/2026 6,093.75 6,093.75 12/31/2025 Coupon 91282CGC9 350,000.00 UNITED STATES TREASURY 3.875 12/31/2027 6,781.25 6,781.25 12/31/2025 Coupon 91282CHK0 500,000.00 UNITED STATES TREASURY 4.0 06/30/2028 10,000.00 10,000.00 12/31/2025 Coupon 91282CJR3 400,000.00 UNITED STATES TREASURY 3.75 12/31/2028 7,500.00 7,500.00 12/31/2025 Coupon 91282CKX8 650,000.00 UNITED STATES TREASURY 4.25 06/30/2029 13,812.50 13,812.50 December 2025
Total 40,600.87 155,067.29 195,668.16
JANUARY 2026
01/09/2026 Coupon 89236TNA9 330,000.00 TOYOTA MOTOR CREDIT CORP 4.95 01/09/2030 8,167.50 8,167.50 01/12/2026 Coupon 3133ERKR1 650,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/12/2026 Coupon 459058KT9 225,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.5 07/12/2028 3,937.50 3,937.50
01/13/2026 Coupon 45950KDD9 230,000.00 INTERNATIONAL FINANCE CORP 4.5 07/13/2028 5,175.00 5,175.00
01/13/2026 Coupon 713448FQ6 65,000.00 PEPSICO INC 4.55 02/13/2026 1,232.29 1,232.29 01/13/2026 Effective Maturity 713448FQ6 65,000.00 PEPSICO INC 4.55 02/13/2026 65,000.00 65,000.00 01/15/2026 Coupon 02582JKH2 110,000.00 AMXCA 2024-1 A 5.23 04/16/2029 479.42 479.42 01/15/2026 Coupon 05522RDJ4 135,000.00 BACCT 2024-1 A 4.93 05/15/2029 554.63 554.63 01/15/2026 Coupon 161571HT4 280,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,204.00 1,204.00 01/15/2026 Coupon 437921AD1 125,000.00 HAROT 252 A3 4.15 10/15/2029 432.29 432.29 01/15/2026 Coupon 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 353.46 353.46 01/15/2026 Principal Paydown 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 2,213.26 2,213.26 01/15/2026 Coupon 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 1,257.54 1,257.54 01/15/2026 Principal Paydown 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 23,776.38 23,776.38 01/15/2026 Coupon 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 281.67 281.67 01/15/2026 Coupon 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 904.38 904.38 01/15/2026 Principal Paydown 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 17,215.37 17,215.37 01/15/2026 Coupon 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 95.20 95.20 01/15/2026 Principal Paydown 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 3,861.01 3,861.01 01/15/2026 Coupon 47800DAD6 185,000.00 JDOT 2025 A3 4.23 09/17/2029 652.13 652.13 01/15/2026 Coupon 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 310.37 310.37 01/15/2026 Principal Paydown 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,219.84 4,219.84 01/15/2026 Coupon 89231HAD8 120,000.00 TAOT 2025-B A3 4.34 11/15/2029 434.00 434.00 01/15/2026 Coupon 89239TAD4 120,000.00 TAOT 2024-D A3 4.4 06/15/2029 440.00 440.00 01/15/2026 Coupon 91282CKZ3 650,000.00 UNITED STATES TREASURY 4.375 07/15/2027 14,218.75 14,218.75 01/15/2026 Coupon 92970QAE5 210,000.00 WFCIT 2024-2 A 4.29 10/15/2029 750.75 750.75 01/20/2026 Coupon 61747YEC5 250,000.00 MORGAN STANLEY 1.512 07/20/2027 1,890.00 1,890.00 01/20/2026 Coupon 713448FX1 400,000.00 PEPSICO INC 4.5 07/17/2029 9,000.00 9,000.00 01/22/2026 Coupon 06051GJS9 250,000.00 BANK OF AMERICA CORP 1.734 07/22/2027 2,167.50 2,167.50 01/23/2026 Coupon 3133ERMB4 650,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.25 07/23/2027 13,812.50 13,812.50
01/23/2026 Coupon 46647PEB8 300,000.00 JPMORGAN CHASE & CO 5.012 01/23/2030 7,518.00 7,518.00 CONFIDENTIAL | 44
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/26/2026 Coupon 06051GMK2 380,000.00 BANK OF AMERICA CORP 4.979 01/24/2029 9,460.10 9,460.10 01/26/2026 Coupon 09290DAH4 475,000.00 BLACKROCK INC 4.6 07/26/2027 10,925.00 10,925.00 01/26/2026 Coupon 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 397.50 397.50 01/26/2026 Coupon 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 518.00 518.00 01/26/2026 Principal Paydown 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 2,495.11 2,495.11 01/26/2026 Coupon 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 927.98 927.98 01/26/2026 Principal Paydown 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 703.82 703.82 01/26/2026 Coupon 3137BVZ82 350,000.00 FHMS K-063 A2 3.43 01/25/2027 1,000.42 1,000.42 01/26/2026 Coupon 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 909.13 909.13 01/26/2026 Coupon 3137FAWS3 310,000.00 FHMS K-067 A2 3.194 07/25/2027 825.12 825.12 01/26/2026 Coupon 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 1,289.60 1,289.60 01/26/2026 Principal Paydown 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 834.95 834.95 01/26/2026 Coupon 3137FG6X8 510,000.00 FHMS K-077 A2 3.85 05/25/2028 1,636.25 1,636.25 01/26/2026 Coupon 3137FKSH0 500,000.00 FHMS K-086 A2 3.859 11/25/2028 1,607.92 1,607.92 01/26/2026 Coupon 3137FKUP9 400,000.00 FHMS K-087 A2 3.771 12/25/2028 1,257.00 1,257.00 01/26/2026 Coupon 3137FLMV3 400,000.00 FHMS K-090 A2 3.422 02/25/2029 1,140.67 1,140.67 01/26/2026 Coupon 3137FLYV0 250,000.00 FHMS K-092 A2 3.298 04/25/2029 687.08 687.08 01/26/2026 Coupon 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 857.55 857.55 01/26/2026 Principal Paydown 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 382.59 382.59 01/26/2026 Coupon 3137H5YC5 525,000.00 FHMS K-748 A2 2.26 01/25/2029 988.75 988.75 January 2026 Total 120,702.33 124,728.17 245,430.51
FEBRUARY 2026
02/02/2026 Coupon 13063EGT7 395,000.00 CALIFORNIA STATE 4.5 08/01/2029 8,887.50 8,887.50 02/02/2026 Coupon 69371RS80 365,000.00 PACCAR FINANCIAL CORP 4.6 01/31/2029 8,395.00 8,395.00 02/02/2026 Coupon 91282CGH8 500,000.00 UNITED STATES TREASURY 3.5 01/31/2028 8,750.00 8,750.00 02/02/2026 Coupon 91282CHQ7 350,000.00 UNITED STATES TREASURY 4.125 07/31/2028 7,218.75 7,218.75 02/02/2026 Coupon 91282CJW2 650,000.00 UNITED STATES TREASURY 4.0 01/31/2029 13,000.00 13,000.00 02/02/2026 Coupon 91282CLC3 500,000.00 UNITED STATES TREASURY 4.0 07/31/2029 10,000.00 10,000.00 02/02/2026 Coupon 91282CMG3 500,000.00 UNITED STATES TREASURY 4.25 01/31/2030 10,625.00 10,625.00 02/09/2026 Coupon 89236TMK8 450,000.00 TOYOTA MOTOR CREDIT CORP 4.55 08/09/2029 10,237.50 10,237.50 02/12/2026 Coupon 14913R3A3 250,000.00 CATERPILLAR FINANCIAL SERVICES CORP 3.6 08/12/2027 4,500.00 4,500.00
CONFIDENTIAL | 45
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/12/2026 Coupon 532457CV8 500,000.00 ELI LILLY AND CO 4.75 02/12/2030 11,875.00 11,875.00 02/16/2026 Coupon 05522RDJ4 135,000.00 BACCT 2024-1 A 4.93 05/15/2029 554.63 554.63 02/16/2026 Coupon 161571HT4 280,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,204.00 1,204.00 02/16/2026 Coupon 437921AD1 125,000.00 HAROT 252 A3 4.15 10/15/2029 432.29 432.29 02/16/2026 Coupon 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 344.25 344.25 02/16/2026 Principal Paydown 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 4,600.88 4,600.88 02/16/2026 Coupon 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 1,148.96 1,148.96 02/16/2026 Principal Paydown 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 21,292.22 21,292.22 02/16/2026 Coupon 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 281.67 281.67 02/16/2026 Coupon 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 825.76 825.76 02/16/2026 Principal Paydown 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 15,671.20 15,671.20 02/16/2026 Coupon 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 78.83 78.83 02/16/2026 Principal Paydown 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 3,484.61 3,484.61 02/16/2026 Coupon 47800DAD6 185,000.00 JDOT 2025 A3 4.23 09/17/2029 652.13 652.13 02/16/2026 Coupon 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 291.66 291.66 02/16/2026 Principal Paydown 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,799.34 4,799.34 02/16/2026 Coupon 89231HAD8 120,000.00 TAOT 2025-B A3 4.34 11/15/2029 434.00 434.00 02/16/2026 Coupon 89239TAD4 120,000.00 TAOT 2024-D A3 4.4 06/15/2029 440.00 440.00 02/17/2026 Coupon 02582JKH2 110,000.00 AMXCA 2024-1 A 5.23 04/16/2029 479.42 479.42 02/17/2026 Coupon 171239AL0 450,000.00 CHUBB INA HOLDINGS LLC 4.65 08/15/2029 10,462.50 10,462.50 02/17/2026 Coupon 4581X0EN4 400,000.00 INTER-AMERICAN DEVELOPMENT BANK 4.125 02/15/2029 8,250.00 8,250.00
02/17/2026 Coupon 9128282A7 650,000.00 UNITED STATES TREASURY 1.5 08/15/2026 4,875.00 4,875.00 02/17/2026 Coupon 92970QAE5 210,000.00 WFCIT 2024-2 A 4.29 10/15/2029 750.75 750.75 02/23/2026 Coupon 023135BC9 250,000.00 AMAZON.COM INC 3.15 08/22/2027 3,937.50 3,937.50 02/25/2026 Coupon 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 397.50 397.50 02/25/2026 Coupon 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 507.23 507.23 02/25/2026 Principal Paydown 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 6,543.44 6,543.44 02/25/2026 Coupon 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 926.02 926.02 02/25/2026 Principal Paydown 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 706.04 706.04 02/25/2026 Coupon 3137BVZ82 350,000.00 FHMS K-063 A2 3.43 01/25/2027 1,000.42 1,000.42 02/25/2026 Coupon 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 909.13 909.13 CONFIDENTIAL | 46
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/25/2026 Coupon 3137FAWS3 310,000.00 FHMS K-067 A2 3.194 07/25/2027 825.12 825.12 02/25/2026 Coupon 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 1,287.38 1,287.38 02/25/2026 Principal Paydown 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 837.67 837.67 02/25/2026 Coupon 3137FG6X8 510,000.00 FHMS K-077 A2 3.85 05/25/2028 1,636.25 1,636.25 02/25/2026 Coupon 3137FKSH0 500,000.00 FHMS K-086 A2 3.859 11/25/2028 1,607.92 1,607.92 02/25/2026 Coupon 3137FKUP9 400,000.00 FHMS K-087 A2 3.771 12/25/2028 1,257.00 1,257.00 02/25/2026 Coupon 3137FLMV3 400,000.00 FHMS K-090 A2 3.422 02/25/2029 1,140.67 1,140.67 02/25/2026 Coupon 3137FLYV0 250,000.00 FHMS K-092 A2 3.298 04/25/2029 687.08 687.08 02/25/2026 Coupon 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 856.60 856.60 02/25/2026 Principal Paydown 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 383.71 383.71 02/25/2026 Coupon 3137H5YC5 525,000.00 FHMS K-748 A2 2.26 01/25/2029 988.75 988.75 02/26/2026 Coupon 17275RBQ4 300,000.00 CISCO SYSTEMS INC 4.8 02/26/2027 7,200.00 7,200.00 02/26/2026 Coupon 17275RBR2 140,000.00 CISCO SYSTEMS INC 4.85 02/26/2029 3,395.00 3,395.00 February 2026
Total 58,319.11 153,554.14 211,873.25
MARCH 2026
03/02/2026 Coupon 91282CFH9 650,000.00 UNITED STATES TREASURY 3.125 08/31/2027 10,156.25 10,156.25 03/02/2026 Coupon 91282CGP0 500,000.00 UNITED STATES TREASURY 4.0 02/29/2028 10,000.00 10,000.00 03/02/2026 Coupon 91282CLK5 500,000.00 UNITED STATES TREASURY 3.625 08/31/2029 9,062.50 9,062.50 03/05/2026 Coupon 02665WFY2 325,000.00 AMERICAN HONDA FINANCE CORP 4.8 03/05/2030 7,800.00 7,800.00
03/09/2026 Coupon 3130AWTR1 300,000.00 FEDERAL HOME LOAN BANKS 4.375 09/08/2028 6,562.50 6,562.50
03/10/2026 Coupon 3130ATS57 500,000.00 FEDERAL HOME LOAN BANKS 4.5 03/10/2028 11,250.00 11,250.00 03/16/2026 Coupon 02582JKH2 110,000.00 AMXCA 2024-1 A 5.23 04/16/2029 479.42 479.42 03/16/2026 Coupon 05522RDJ4 135,000.00 BACCT 2024-1 A 4.93 05/15/2029 554.63 554.63 03/16/2026 Coupon 161571HT4 280,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,204.00 1,204.00 03/16/2026 Coupon 24422EWK1 250,000.00 JOHN DEERE CAPITAL CORP 4.15 09/15/2027 5,187.50 5,187.50 03/16/2026 Coupon 437921AD1 125,000.00 HAROT 252 A3 4.15 10/15/2029 432.29 432.29 03/16/2026 Coupon 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 325.12 325.12 03/16/2026 Principal Paydown 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 4,455.44 4,455.44 03/16/2026 Coupon 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 1,051.73 1,051.73 CONFIDENTIAL | 47
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/16/2026 Principal Paydown 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 20,654.29 20,654.29 03/16/2026 Coupon 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 281.67 281.67 03/16/2026 Principal Paydown 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 408.54 408.54 03/16/2026 Coupon 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 754.20 754.20 03/16/2026 Principal Paydown 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 12,932.67 12,932.67 03/16/2026 Coupon 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 64.04 64.04 03/16/2026 Principal Paydown 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 3,031.98 3,031.98 03/16/2026 Coupon 47800DAD6 185,000.00 JDOT 2025 A3 4.23 09/17/2029 652.13 652.13 03/16/2026 Coupon 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 270.38 270.38 03/16/2026 Principal Paydown 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,520.47 4,520.47 03/16/2026 Coupon 89231HAD8 120,000.00 TAOT 2025-B A3 4.34 11/15/2029 434.00 434.00 03/16/2026 Coupon 89239TAD4 120,000.00 TAOT 2024-D A3 4.4 06/15/2029 440.00 440.00 03/16/2026 Coupon 92970QAE5 210,000.00 WFCIT 2024-2 A 4.29 10/15/2029 750.75 750.75 03/18/2026 Coupon 857477CL5 300,000.00 STATE STREET CORP 4.993 03/18/2027 7,489.50 7,489.50 03/20/2026 Coupon 459058LR2 235,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 4,846.88 4,846.88
03/23/2026 Coupon 3133EPWK7 500,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 09/22/2028 11,250.00 11,250.00
03/24/2026 Coupon 3135G0Q22 650,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

1.875 09/24/2026 6,093.75 6,093.75
03/25/2026 Coupon 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 397.50 397.50 03/25/2026 Coupon 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 478.98 478.98 03/25/2026 Principal Paydown 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 6,342.98 6,342.98 03/25/2026 Coupon 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 924.05 924.05 03/25/2026 Principal Paydown 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 827.41 827.41 03/25/2026 Coupon 3137BVZ82 350,000.00 FHMS K-063 A2 3.43 01/25/2027 1,000.42 1,000.42 03/25/2026 Coupon 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 909.13 909.13 03/25/2026 Principal Paydown 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 2,684.95 2,684.95 03/25/2026 Coupon 3137FAWS3 310,000.00 FHMS K-067 A2 3.194 07/25/2027 825.12 825.12 03/25/2026 Coupon 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 1,285.15 1,285.15 03/25/2026 Principal Paydown 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 999.44 999.44 03/25/2026 Coupon 3137FG6X8 510,000.00 FHMS K-077 A2 3.85 05/25/2028 1,636.25 1,636.25 CONFIDENTIAL | 48
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/25/2026 Coupon 3137FKSH0 500,000.00 FHMS K-086 A2 3.859 11/25/2028 1,607.92 1,607.92 03/25/2026 Coupon 3137FKUP9 400,000.00 FHMS K-087 A2 3.771 12/25/2028 1,257.00 1,257.00 03/25/2026 Coupon 3137FLMV3 400,000.00 FHMS K-090 A2 3.422 02/25/2029 1,140.67 1,140.67 03/25/2026 Coupon 3137FLYV0 250,000.00 FHMS K-092 A2 3.298 04/25/2029 687.08 687.08 03/25/2026 Coupon 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 855.64 855.64 03/25/2026 Principal Paydown 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 479.95 479.95 03/25/2026 Coupon 3137H5YC5 525,000.00 FHMS K-748 A2 2.26 01/25/2029 988.75 988.75 03/31/2026 Coupon 91282CEF4 650,000.00 UNITED STATES TREASURY 2.5 03/31/2027 8,125.00 8,125.00 03/31/2026 Coupon 91282CFL0 350,000.00 UNITED STATES TREASURY 3.875 09/30/2029 6,781.25 6,781.25 03/31/2026 Coupon 91282CGT2 350,000.00 UNITED STATES TREASURY 3.625 03/31/2028 6,343.75 6,343.75 03/31/2026 Coupon 91282CJA0 350,000.00 UNITED STATES TREASURY 4.625 09/30/2028 8,093.75 8,093.75 03/31/2026 Coupon 91282CKG5 650,000.00 UNITED STATES TREASURY 4.125 03/31/2029 13,406.25 13,406.25 03/31/2026 Coupon 91282CMU2 500,000.00 UNITED STATES TREASURY 4.0 03/31/2030 10,000.00 10,000.00 March 2026 Total 57,338.12 164,136.89 221,475.01
APRIL 2026
04/01/2026 Coupon 74340XBK6 250,000.00 PROLOGIS LP 3.25 10/01/2026 4,062.50 4,062.50 04/10/2026 Coupon 3133ERAK7 400,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.375 04/10/2029 8,750.00 8,750.00
04/15/2026 Coupon 02582JKH2 110,000.00 AMXCA 2024-1 A 5.23 04/16/2029 479.42 479.42 04/15/2026 Coupon 05522RDJ4 135,000.00 BACCT 2024-1 A 4.93 05/15/2029 554.63 554.63 04/15/2026 Coupon 161571HT4 280,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,204.00 1,204.00 04/15/2026 Coupon 437921AD1 125,000.00 HAROT 252 A3 4.15 10/15/2029 432.29 432.29 04/15/2026 Coupon 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 306.60 306.60 04/15/2026 Principal Paydown 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 4,688.50 4,688.50 04/15/2026 Coupon 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 957.41 957.41 04/15/2026 Principal Paydown 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 21,203.79 21,203.79 04/15/2026 Coupon 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 279.90 279.90 04/15/2026 Principal Paydown 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 4,579.65 4,579.65 04/15/2026 Coupon 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 695.14 695.14 04/15/2026 Principal Paydown 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 16,237.43 16,237.43 04/15/2026 Coupon 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 51.18 51.18 04/15/2026 Principal Paydown 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 3,798.44 3,798.44 CONFIDENTIAL | 49
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/15/2026 Coupon 47800DAD6 185,000.00 JDOT 2025 A3 4.23 09/17/2029 652.13 652.13 04/15/2026 Coupon 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 250.34 250.34 04/15/2026 Principal Paydown 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 5,040.97 5,040.97 04/15/2026 Coupon 89231HAD8 120,000.00 TAOT 2025-B A3 4.34 11/15/2029 434.00 434.00 04/15/2026 Coupon 89239TAD4 120,000.00 TAOT 2024-D A3 4.4 06/15/2029 440.00 440.00 04/15/2026 Coupon 91282CJC6 500,000.00 UNITED STATES TREASURY 4.625 10/15/2026 11,562.50 11,562.50 04/15/2026 Coupon 92970QAE5 210,000.00 WFCIT 2024-2 A 4.29 10/15/2029 750.75 750.75 04/22/2026 Coupon 46647PCB0 250,000.00 JPMORGAN CHASE & CO 1.578 04/22/2027 1,972.50 1,972.50 04/22/2026 Effective Maturity 46647PCB0 250,000.00 JPMORGAN CHASE & CO 1.578 04/22/2027 250,000.00 250,000.00 04/27/2026 Coupon 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 397.50 397.50 04/27/2026 Coupon 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 451.60 451.60 04/27/2026 Principal Paydown 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 6,377.57 6,377.57 04/27/2026 Coupon 3133EPGW9 250,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

3.875 04/25/2028 4,843.75 4,843.75
04/27/2026 Coupon 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 921.74 921.74 04/27/2026 Principal Paydown 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 710.91 710.91 04/27/2026 Coupon 3137BVZ82 350,000.00 FHMS K-063 A2 3.43 01/25/2027 1,000.42 1,000.42 04/27/2026 Coupon 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 902.15 902.15 04/27/2026 Principal Paydown 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 529.81 529.81 04/27/2026 Coupon 3137FAWS3 310,000.00 FHMS K-067 A2 3.194 07/25/2027 825.12 825.12 04/27/2026 Coupon 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 1,282.50 1,282.50 04/27/2026 Principal Paydown 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 843.68 843.68 04/27/2026 Coupon 3137FG6X8 510,000.00 FHMS K-077 A2 3.85 05/25/2028 1,636.25 1,636.25 04/27/2026 Coupon 3137FKSH0 500,000.00 FHMS K-086 A2 3.859 11/25/2028 1,607.92 1,607.92 04/27/2026 Coupon 3137FKUP9 400,000.00 FHMS K-087 A2 3.771 12/25/2028 1,257.00 1,257.00 04/27/2026 Coupon 3137FLMV3 400,000.00 FHMS K-090 A2 3.422 02/25/2029 1,140.67 1,140.67 04/27/2026 Coupon 3137FLYV0 250,000.00 FHMS K-092 A2 3.298 04/25/2029 687.08 687.08 04/27/2026 Coupon 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 854.45 854.45 04/27/2026 Principal Paydown 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 386.33 386.33 04/27/2026 Coupon 3137H5YC5 525,000.00 FHMS K-748 A2 2.26 01/25/2029 988.75 988.75 04/30/2026 Coupon 3133ERDH1 500,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/30/2026 Coupon 91282CFU0 650,000.00 UNITED STATES TREASURY 4.125 10/31/2027 13,406.25 13,406.25 04/30/2026 Coupon 91282CMZ1 500,000.00 UNITED STATES TREASURY 3.875 04/30/2030 9,687.50 9,687.50 April 2026 Total 314,397.07 87,600.92 401,998.00
MAY 2026
05/01/2026 Coupon 194162AT0 210,000.00 COLGATE-PALMOLIVE CO 4.2 05/01/2030 4,410.00 4,410.00 05/01/2026 Coupon 74456QBU9 300,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.7 05/01/2028 5,550.00 5,550.00
05/15/2026 Coupon 02582JKH2 110,000.00 AMXCA 2024-1 A 5.23 04/16/2029 479.42 479.42 05/15/2026 Coupon 05522RDJ4 135,000.00 BACCT 2024-1 A 4.93 05/15/2029 554.63 554.63 05/15/2026 Coupon 14913UAU4 150,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.7 11/15/2029 3,525.00 3,525.00
05/15/2026 Coupon 161571HT4 280,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,204.00 1,204.00 05/15/2026 Coupon 437921AD1 125,000.00 HAROT 252 A3 4.15 10/15/2029 432.29 432.29 05/15/2026 Coupon 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 287.10 287.10 05/15/2026 Principal Paydown 448973AD9 85,000.00 HART 2024-A A3 4.99 02/15/2029 4,495.40 4,495.40 05/15/2026 Coupon 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 860.58 860.58 05/15/2026 Principal Paydown 44933XAD9 433,105.49 HART 2023-B A3 5.48 04/17/2028 20,384.13 20,384.13 05/15/2026 Coupon 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 260.05 260.05 05/15/2026 Principal Paydown 47786WAD2 65,000.00 JDOT 2024-B A3 5.2 03/15/2029 4,086.19 4,086.19 05/15/2026 Coupon 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 620.99 620.99 05/15/2026 Principal Paydown 47787CAC7 291,073.79 JDOT 2023-C A3 5.48 05/15/2028 16,813.48 16,813.48 05/15/2026 Coupon 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 35.07 35.07 05/15/2026 Principal Paydown 47800BAC2 42,482.84 JDOT 2022-C A3 5.09 06/15/2027 3,241.33 3,241.33 05/15/2026 Coupon 47800DAD6 185,000.00 JDOT 2025 A3 4.23 09/17/2029 652.13 652.13 05/15/2026 Coupon 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 228.00 228.00 05/15/2026 Principal Paydown 58770JAD6 70,000.00 MBALT 2024-A A3 5.32 01/18/2028 5,111.60 5,111.60 05/15/2026 Coupon 89231HAD8 120,000.00 TAOT 2025-B A3 4.34 11/15/2029 434.00 434.00 05/15/2026 Coupon 89239TAD4 120,000.00 TAOT 2024-D A3 4.4 06/15/2029 440.00 440.00 05/15/2026 Coupon 91324PEG3 250,000.00 UNITEDHEALTH GROUP INC 3.7 05/15/2027 4,625.00 4,625.00 05/15/2026 Coupon 92970QAE5 210,000.00 WFCIT 2024-2 A 4.29 10/15/2029 750.75 750.75 05/18/2026 Coupon 58933YBH7 300,000.00 MERCK & CO INC 4.05 05/17/2028 6,075.00 6,075.00 CONFIDENTIAL | 51
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/20/2026 Coupon 3133ERFJ5 450,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 05/20/2027 10,125.00 10,125.00
05/21/2026 Coupon 00287YBX6 400,000.00 ABBVIE INC 3.2 11/21/2029 6,400.00 6,400.00 05/25/2026 Coupon 096912AD2 100,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 397.50 397.50 05/25/2026 Coupon 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 424.07 424.07 05/25/2026 Principal Paydown 096919AD7 120,000.00 BMWOT 2024-A A3 5.18 02/26/2029 6,121.51 6,121.51 05/25/2026 Coupon 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 919.76 919.76 05/25/2026 Principal Paydown 3137BTUM1 337,005.12 FHMS K-061 A2 3.347 11/25/2026 752.68 752.68 05/25/2026 Coupon 3137BVZ82 350,000.00 FHMS K-063 A2 3.43 01/25/2027 1,000.42 1,000.42 05/25/2026 Coupon 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 900.77 900.77 05/25/2026 Principal Paydown 3137F2LJ3 350,000.00 FHMS K-066 A2 3.117 06/25/2027 569.14 569.14 05/25/2026 Coupon 3137FAWS3 310,000.00 FHMS K-067 A2 3.194 07/25/2027 825.12 825.12 05/25/2026 Coupon 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 1,280.26 1,280.26 05/25/2026 Principal Paydown 3137FBU79 490,682.97 FHMS K-069 A2 3.187 09/25/2027 899.22 899.22 05/25/2026 Coupon 3137FG6X8 510,000.00 FHMS K-077 A2 3.85 05/25/2028 1,636.25 1,636.25 05/25/2026 Coupon 3137FKSH0 500,000.00 FHMS K-086 A2 3.859 11/25/2028 1,607.92 1,607.92 05/25/2026 Coupon 3137FKUP9 400,000.00 FHMS K-087 A2 3.771 12/25/2028 1,257.00 1,257.00 05/25/2026 Coupon 3137FLMV3 400,000.00 FHMS K-090 A2 3.422 02/25/2029 1,140.67 1,140.67 05/25/2026 Coupon 3137FLYV0 250,000.00 FHMS K-092 A2 3.298 04/25/2029 687.08 687.08 05/25/2026 Coupon 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 853.49 853.49 05/25/2026 Principal Paydown 3137FMCR1 347,455.99 FHMS K-093 A2 2.982 05/25/2029 419.00 419.00 05/25/2026 Coupon 3137H5YC5 525,000.00 FHMS K-748 A2 2.26 01/25/2029 988.75 988.75 May 2026 Total 62,893.67 61,868.05 124,761.72
Grand Total 162,409,272.28 1,693,340.98 1,405,921.63 3,099,262.62 CONFIDENTIAL | 52
City of Stanton | Account #10991 | As of June 30, 2025
Execution Time: 07/01/2025 04:52:58 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

IMPORTANT DISCLOSURES
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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 high rating by S&P, Moody’s and Fitch respectively.

BENCHMARK INDEX & DISCLOSURES
Benchmark Disclosure
ICE BofA 1-5 Yr US Treasury & Agency
Index
The ICE BofA 1-5 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 five 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. 1 CITY OF STANTON

REPORT TO THE SUCCESSOR AGENCY TO THE

STANTON REDEVELOPMENT AGENCY
TO: Honorable Chairman and Members of the Successor Agency DATE: August 12, 2025
SUBJECT: JUNE 2025 INVESTMENT REPORT (SUCCESSOR AGENCY) REPORT IN BRIEF:

The Investment Report as of June 30, 2025, has been prepared in accordance with the City’s Investment Policy and California Government Code Section 53646.

RECOMMENDED ACTION:

2. Receive and file the Investment Report for the month of June 2025.

BACKGROUND:

The attached report summarizes the Successor Agency’s investment and deposit balances as of June 30, 2025. During the month of May, the Successor Agency’s total cash and investments decreased by $943,420. During the month of June, the Successor Agency paid its semi-annual interest payments on its outstanding debt obligations. The Successor Agency’s cash and investment balances by fund are presented in Attachment A. The Successor Agency’s investments and deposits by financial institution are included as Attachment B.

ANALYSIS:

The Successor Agency’s share of the City’s investment in the State Treasurer’s Local Agency Investment Fund (LAIF) continues to be available on demand. The effective yield on LAIF for the month of June 2025 was 4.27%.

Item: 9E
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1 The Successor Agency’s investments are shown on Attachment B and have a weighted investment yield of 4.27%, which is equal to the benchmark LAIF return of 4.27%, as the entire portfolio (excluding funds held with the bond fiscal agents) represents the Successor Agency’s portion of the City’s pooled cash and investments. With a completely liquid portfolio, the weighted average maturity of the Successor Agency’s investments on June 30, 2025, was 1 day. LAIF’s average maturity on June 30, 2025, was approximately 248 days.

FISCAL IMPACT:

All deposits and investments have been made in accordance with the City's Fiscal Year 2024/25 Investment Policy.

The portfolio will allow the Successor Agency to meet its expenditure requirements for the next six months.

ENVIRONMENTAL IMPACT:

None.

LEGAL REVIEW:

None.

PUBLIC NOTIFICATION:

Through the agenda posting process.

STRATEGIC GOAL:

Goal 4. Ensure fiscal stability
Prepared by: Sharon del Rosario, Finance Director
Approved by: Hannah Shin-Heydorn, City Manager
ATTACHMENTS:

A. Cash and Investment Balances by Fund
B. Investments and Deposits
Fund/
Account No. Fund/Account Name
Beginning
Balance Increases Decreases Ending Balance

CASH-POOLED
712-111101 Redevelopment Obligation Retirement Fund $ 1,376,085.92 $ - $ - $ 1,376,085.92 Total Cash-Pooled (1) $ 1,376,085.92 $ - $ - $ 1,376,085.92 CASH-RESTRICTED (with Fiscal Agent)
712-111423 2016 Tax Allocation Bonds, Series A and B $ 1,426,572.68 $ 6.06 $ (243,278.130) $ 1,183,300.61 712-111425 2016 Tax Allocation Bonds, Series C and D 2,512,056.34 10.67 (575,962.500) 1,936,104.51 712-111426 2020 Tax Allocation Refunding Bonds, Series A 828,409.45 3.52 (124,200.000) 704,212.97 Total Cash-Restricted (with Fiscal Agent) $ 4,767,038.47 $ 20.25 $ (943,440.630) $ 3,823,618.09 TOTAL CASH AND INVESTMENTS $ 6,143,124.39 $ 20.25 $ (943,440.63) $ 5,199,704.01 Note:
(1) - Includes the Successor Agency's share of the City's BMO Harris Bank checking account and Local Agency Investment Fund (LAIF).

SUCCESSOR AGENCY TO THE STANTON REDEVELOPMENT AGENCY

CASH AND INVESTMENTS REPORT
MONTH ENDED JUNE 30, 2025
Attachment: A
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SUCCESSOR AGENCY TO THE STANTON REDEVELOPMENT AGENCY

INVESTMENTS AND DEPOSITS
Investment Issuer/ Date of Market MV
Type Institution Broker Maturity Cost Value Source
LAIF and BMO General Acct State of California/ BMO State of California On Demand 4.27% N/A $ 1,376,086 $ 1,376,086 LAIF Total Cash Investments and Deposits 4.27% 1 $ 1,376,086 $ 1,376,086 Weighted Average Weighted Average
Bond Funds Held by Trustees: Maturity (days) Yield
Investment Issuer/ CUSIP Date of Interest Par Market MV Type Institution Broker Number Maturity Rate Value Cost Value Source 2016 Series A and B
Debt Service:

Cash Equivalents US Bank Money Market US Bank 9AMMF05B2 On Demand 0.02% 1,183,301 $ $ 1,183,301 $ 1,183,301 US Bank Interest:

Cash Equivalent US Bank Money Market US Bank 9AMMF05B2 On Demand 0.02% 1 1 US Bank 1 Principal:

Cash Equivalent US Bank Money Market US Bank 9AMMF05B2 On Demand 0.02% 2 2 US Bank 2 Total 2016 Series A and B $ 1,183,304 $ 1,183,304
Investment Issuer/ CUSIP Date of Interest Par Market MV Type Institution Broker Number Maturity Rate Value Cost Value Source 2016 Series C and D
Debt Service:

Cash Equivalent US Bank Money Market US Bank 9AMMF05B2 On Demand 0.02% $ 1,936,105 $ 1,936,105 $ 1,936,105 US Bank Principal:

Cash Equivalent US Bank Money Market US Bank 9AMMF05B2 On Demand 0.02% 1 1 1 US Bank Total 2016 Series C and D $ 1,936,106 $ 1,936,106
Investment Issuer/ CUSIP Date of Interest Par Market MV Type Institution Broker Number Maturity Rate Value Cost Value Source 2020 Tax Allocation Refunding Bonds
Special Fund:

Cash Equivalent US Bank Money Market US Bank 9AMMF05B2 On Demand 0.02% $ 704,213 $ 704,213 $ 704,213 US Bank Total 2020 Tax Allocation Bonds (Tax-Exempt) $ 704,213 $ 704,213 Total Bond Fund Investments and Deposits (3) $ 3,823,622 $ 3,823,622 TOTAL - ALL CASH AND INVESTMENTS $ 5,199,708 $ 5,199,708 Notes:
(1) - There have been no exceptions to the Investment Policy. (2) - The Successor Agency is able to meet its expenditure requirements for the next six months. (3) - Restricted Bond Funds are held by the fiscal agent.

MONTH ENDED JUNE 30, 2025
Rate
Interest
Attachment: B
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CITY OF STANTON

REPORT TO THE CITY COUNCIL
TO: Honorable Mayor and Members of the City Council
DATE: August 12, 2025
SUBJECT: RESPONSE TO THE 2024-2025 ORANGE COUNTY GRAND JURY REPORT DATED MAY 22, 2025, ENTITLED, “LONG-TERM
SOLUTIONS TO SHORT-TERM RENTALS”
REPORT IN BRIEF:

On May 22, 2025, the Orange County Grand Jury released a report entitled “Long-Term Solutions to Short-Term Rentals” (Attachment A). The report focused on issues surrounding short-term rentals (STRs) which are residences such as homes or apartments defined as allowing for occupancy for fewer than 30 days. California Penal Code Sections 933 and 933.05 require any public agency that the Grand Jury reviews respond to the findings and recommendations of the Grand Jury Report. The City’s proposed response letter responds to each of the applicable findings and recommendations (Attachment B).

RECOMMENDED ACTION:

1. City Council find that this item is not subject to California Environmental Quality Act (“CEQA”) pursuant to Sections 15378(b)(5)(Organizational or administrative activities or governments that will not result in direct or indirect physical changes in the environment); and

BACKGROUND:

Various news reports have covered the impact of STRs on local communities, and this motivated the Grand Jury to investigate how effectively Orange County cities are managing STRs. The scope of the Grand Jury Report includes the thirty-four cities in Orange County, with a focus on cities with the largest number of STRs and cities with bans on STRs, as well as coastal cities.

Item: 9F
Click here to return to the agenda.

The Grand Jury’s Method of Study was as follows:
• Research on STR management and business models
o Survey of national publications with articles on STRs o Review of websites, interviews, testimonials, and other materials produced by companies serving the STR and hospitality markets or from contractors with products for cities managing STRs o Review of academic papers on STRs and their history
o Review of non-governmental agency white papers on STRs • In-person interviews of city personnel
• Review of:
o City meeting minutes and recordings of residents’ concerns o Various cities’ STR complaint processes
o City ordinances as well as state statutes
o California Coastal Commission guidance
o Third-party STR surveillance software used by cities
o Various cities’ STR complaints from June 2022 through June 2024 o Relevant legal rulings
• Analysis of Transient Occupancy Tax (TOT)
The Orange County Grand Jury released the “Long-Term Solutions to Short-Term Rentals” report on May 22, 2025.

ANALYSIS AND JUSTIFICATION:

California Penal Code Sections 933 and 933.05 require any public agency that the Grand Jury reviews respond to the findings and recommendations of the Grand Jury report. The City is required to respond because it is reviewed in the report along with the other 33 Orange County cities and the County of Orange. The proposed response letter responds to each of the applicable findings and recommendations listed on pages 18-20 of the report.

The Grand Jury report contained findings for which the City is required to respond. The original Grand Jury findings are repeated below in italics. The City’s responses are in bold, with additional explanation and commentary in regular typeface. References to the “City” refer to the City of Stanton.

F1 Despite the increasing media coverage of Online Booking Agencies (OBAs), STRs are not a new phenomenon in Orange County.

The respondent agrees with the finding.

F2 The steady growth of STR usage in the last decade raises concerns of potential public nuisance.

The respondent agrees with the finding.

F3 Even with robust Code Enforcement, a city’s statutory ban on STRs is not enough to keep STRs from operating.

The respondent agrees with the finding.

Despite the City’s ban on STRs, Code Enforcement regularly receives complaints regarding STRs. The frequency of the complaints rose to such a level in prior years that the City recently procured access to a data platform that monitors STRs and supports timely, appropriate enforcement.

F12 City leaders have no regular communication with each other concerning STR issues, limiting opportunities to develop strategies and expertise to improve service.

The respondent agrees partially with the finding.

While there is no formal regular communication medium dedicated solely to STRrelated issues among City leaders in Orange County, communication and collaboration does occur. In addition to mediums for elected officials such as the League of California Cities and the Association of California Cities – Orange County, city managers and planning directors participate in various professional organizations in which a range of municipal issues are discussed, including STRs.

The Grand Jury report contains recommendations for which the City is required to respond. Cities are required to respond based on statutorily identified responses.

R1 Cities should review and begin to update ordinances to keep up with the rapidly changing nature of court findings and legislation related to STRs, by December 31, 2025, and no less frequently than every three years thereafter.

The recommendation will not be implemented because it is not warranted or is not reasonable, with an explanation therefor.

The City does not permit STRs.

R2 Cities should consider developing a plan for upcoming major events that are expected to create a surge in demand for STRs and its associated Transient Occupancy Tax, by December 31, 2025, and no less frequently than every two years thereafter.

The recommendation will not be implemented because it is not warranted or is not reasonable, with an explanation therefor.

The City does not permit STRs.

R9 City leaders should have regular discussions with each other to share STR management strategies on a biannual basis commencing no later than January 1, 2026.

The recommendation will be implemented.

City staff will continue to attend and participate in those professional associations and events where issues such as STRs are addressed.

Pursuant to California Penal Code Sections 933 and 933.05, the City’s response to the Grand Jury is due on August 20, 2025.

FISCAL IMPACT:

None.

ENVIRONMENTAL IMPACT:

This item is not subject to California Environmental Quality Act (“CEQA”) pursuant to Sections 15378(b)(5)(Organizational or administrative activities or governments that will not result in direct or indirect physical changes in the environment).

PUBLIC NOTIFICATION:

Public notification provided through the regular agenda process.

LEGAL REVIEW:

None.

STRATEGIC GOAL:

Goal 5: Maintain and promote a responsive, high quality and transparent government.

Prepared by: Hannah Shin-Heydorn, City Manager
Approved by: Hannah Shin-Heydorn, City Manager
ATTACHMENTS:

A. Grand Jury Report “Long-Term Solutions to Short-Term Rentals” B. City Response to Report
2024-2025 ORANGE COUNTY GRAND JURY REPORT
Long-Term Solutions to
Short-Term Rentals
Grand Jury
Attachment: A
Click here to return to the agenda.

Long-Term Solutions to Short-Term Rentals
2024-2025 Orange County Grand Jury Page 2

TABLE OF CONTENTS
ACRONYMS................................................................................................................................. 3 SUMMARY ................................................................................................................................... 4 BACKGROUND ........................................................................................................................... 4 REASON FOR THE STUDY ...................................................................................................... 5 METHOD OF STUDY ................................................................................................................. 5 INVESTIGATION........................................................................................................................ 6 How Cities Manage STRs......................................................................................................... 7 Code Enforcement’s Role ......................................................................................................... 8 STR Policies Vary in Orange County...................................................................................... 8 Cities With an STR Ban ........................................................................................................... 8 Cities Without a Specific STR Ordinance................................................................................ 9 How Cities Collect Complaints................................................................................................ 9 Issues with STR Code Enforcement ........................................................................................ 9 Tools That Help Code Enforcement Accomplish Their Goals............................................ 10 Legal Cases Uncover Gaps in STR Ordinances................................................................... 10 Managing Permit Scarcity...................................................................................................... 11 Collecting TOT Revenue ........................................................................................................ 12 Major Events Fuel Demand for STRs................................................................................... 13 STR Impact on Affordable Housing...................................................................................... 13 STRs Can be Good Neighbors................................................................................................ 14 FINDINGS................................................................................................................................... 15 RECOMMENDATIONS............................................................................................................ 16 RESPONSES ............................................................................................................................... 17 Responses Required ................................................................................................................ 18 Findings................................................................................................................................. 19 Recommendations.................................................................................................................. 19 Requested Responses............................................................................................................... 19 Findings................................................................................................................................. 19 Recommendations.................................................................................................................. 19 Long-Term Solutions to Short-Term Rentals
2024-2025 Orange County Grand Jury Page 3
BIBLIOGRAPHY....................................................................................................................... 20 ANNOTATED BIBLIOGRAPHY ............................................................................................ 21 TABLES
Table 1: STR policies by city.......................................................................................................... 5 Table 2: Models of short-term rentals............................................................................................. 7 Table 3: Recent selected legal findings related to STRs............................................................... 11 Table 4: STR permit limits and affordable housing needed (Housing Element).......................... 14

FIGURES
Figure 1: A single residence may appear on multiple websites...................................................... 7

ACRONYMS
ADU Accessory Dwelling Units
CCC California Coastal Commission
CE Code Enforcement
GIS Geographic Information System
HOA Homeowners Association
LI Low Income
OBA Online Booking Agency
STR Short-Term Rental
TOT Transient Occupancy Tax
VLI Very Low Income
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SUMMARY
Short-term rental (STR) is defined as occupancy of a residence such as a home or an apartment for fewer than 30 days.

Some Orange County residents complain that the growth of STRs impinges on their quality of life and adds costs to city government for additional code enforcement. The 2024-2025 Orange County Grand Jury (Grand Jury) investigation revealed that:
• Cities with a growing number of STRs did not always receive higher complaint volumes. • Some cities employ effective strategies to manage complaints and other cities can learn from their success.
• When cities ban STRs, this often leads to a never-ending game of “whack-a-mole”—as soon as one unpermitted STR is shut down, another opens. • Code Enforcement (CE) errs on the side of leniency.
• Some cities rarely pursue fines for STR violations or collect the Transient Occupancy Tax (TOT) on unreported STR income.
• Some cities rely on the “honor system” for STR owners to report and pay the correct TOT.
• The commonly held belief that STRs negatively impact affordable housing is not evident in cities with STRs.

This report identifies best practices that city councils and their planning departments can use to more efficiently and effectively manage their STRs. This includes modifying STR ordinances, and for some cities, utilizing third-party digital tools for better code enforcement and data tracking to collect unreported TOT.

BACKGROUND
For many years, Orange County has been an international destination, with its forty-two miles of scenic coastline, Disneyland, Knotts Berry Farm, Angel Stadium, Honda Center, and other attractions. Vacation rental properties in Orange County’s beach communities go back many decades; for instance, in the 1920s, Crystal Cove State Park offered camping sites to the public, and in the 1940s it offered trailers.

For some, STRs are business opportunities. To others, STRs are a nuisance and impinge on neighbors’ quality of life. In response to these conflicting priorities, some cities in Orange County have banned STRs, some have limited their number, and some have no limits.

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Table 1: STR policies by city
Policy Choice Cities with the Policy
Banned (19) Aliso Viejo, Brea, Costa Mesa, Cypress, Fountain Valley, Garden Grove, Irvine, La Habra, Laguna Hills,
Laguna Niguel, Laguna Woods, Los Alamitos, Rancho
Santa Margarita, Santa Ana, Stanton, Tustin, Villa Park, Westminster, Yorba Linda
Allowed (15) Anaheim, Buena Park, Dana Point, Fullerton, Huntington Beach, La Palma, Laguna Beach, Lake
Forest, Mission Viejo, Newport Beach, Orange,
Placentia, San Clemente, San Juan Capistrano, Seal
Beach
The advent of online booking agencies (OBAs) has made it even easier for homeowners (and apartment lessees) to supplement their income by renting out their home or room and advertising to millions around the world. As a result, STRs’ visibility has increased, creating tension between STR operators and neighbors.

REASON FOR THE STUDY
Short-term rentals are a heated topic in Orange County cities. Various news reports have covered the impact of STRs on local communities, and this motivated the Grand Jury to investigate how effectively Orange County cities are managing STRs.

The scope of this study includes the thirty-four cities in Orange County, with a focus on cities with the largest number of STRs and cities with bans on STRs, as well as coastal cities.

The Grand Jury studied STR permits and the effectiveness of STR bans. Finally, the Grand Jury examined strategies to improve the quality of life for residents and to provide city planning departments a compilation of tools that will assist in effectively balancing the expectations of the residents and the business owners operating STRs.

METHOD OF STUDY
The Grand Jury conducted the following:
• Research on STR management and business models
o Survey of national publications with articles on STRs Long-Term Solutions to Short-Term Rentals
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o Review of websites, interviews, testimonials, and other materials produced by companies serving the STR and hospitality markets or from contractors with products for cities managing STRs
o Review of academic papers on STRs and their history
o Review of non-governmental agency white papers on STRs • In-person interviews of city personnel
• Review of:
o City meeting minutes and recordings of residents’ concerns o Various cities’ STR complaint processes
o City ordinances as well as state statutes
o California Coastal Commission guidance
o Third-party STR surveillance software used by cities
o Various cities’ STR complaints from June 2022 through June 2024 o Relevant legal rulings
• Analysis of TOT

INVESTIGATION
The Grand Jury learned that in most cases, STR operators are required to obtain a business license, register with their city for a permit, submit reports, pass an inspection, and pay TOT.

This is a city-level tax levied on any temporary lodging that is occupied for fewer than thirty days. All hotels, motels, and bed and breakfasts must remit this tax. Short-term rentals permitting and other policies vary by city. A short-term rental’s TOT is paid either monthly, quarterly, or annually. Most cities allowing STRs require a twenty-four-hour, in-person contact to address complaints, within either thirty or sixty minutes.

Short-term rental operators often use one of the numerous OBAs, such as VRBO (from the phrase Vacation Rentals by Owner), Airbnb, Zumper, and HomeAway. In addition, some operators may advertise via direct booking sites (a website for their specific property) or through local rental agents. Multiple OBAs mean that a unique property may have as many as a dozen listings.

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Figure 1: A single residence may appear on multiple websites.

How Cities Manage STRs
In nearly every city, short-term rentals are regulated by ordinances that define operational rules, establish fees for licensing and violations, and outline the appeals process. Often these rules include disclosure to neighbors, a “Good Neighbor Policy” brochure for the renter, parking and garbage policies, and quiet hours for the neighborhood. An emergency contact who would be readily available to respond to a complaint is typically required. City ordinances may define who can own and operate an STR. Cities may limit operation to the primary homeowner or renter, or they may allow investors who own multiple STR properties.

The Grand Jury observed the following STR models:

Table 2: Models of short-term rentals
Hosted/Shared Housing Owner must be on the property/in
house
Primary Housing Rentals of an owner’s primary
residence are permitted
Unrestricted No restrictions on ownership (incomeproducing property) The Hosted/Shared model is when a homeowner or renter with an extra room rents it out for fewer than thirty days. The host stays at the property during the guests’ stay, either in the house or in an on-property Accessory Dwelling Unit (ADU). The Primary Housing model is when the host rents out their principal home but is not present on the property. Unrestricted STRs are income-producing properties, often owned by corporations and managed by property management companies.
123 Your Street
VRBO.com
airbnb.com
Zumper.com
HomeAway.com
Booking.com
holidayhomes.com
vacasa.com
evolve.com
avantstay.com
agoda.com
flipkey.com
casamundo.com
9flats.com
onefinestay.com
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Regardless of the model, neighbors have the expectation that STR businesses will be operated in a responsible and respectful manner. Owner-occupied models make it easier for a neighbor with a complaint to get resolution. In cities that use this model, formal complaints are fewer because neighbors can quickly resolve issues between themselves.

Code Enforcement’s Role
Code Enforcement (CE) responsibilities include initial and ongoing inspections of STRs to assure adherence to building codes, noise and parking requirements, along with monitoring city complaint portals and searching for nonpermitted STRs. Code Enforcement officers also investigate citizen complaints to substantiate claims and issue citations.

Revenue staff work in tandem with CE to process permits and licenses and to collect TOT and other fees. In at least one city that has a waiting list for STR permits, revenue staff rather than CE staff manage the list, which may delay or limit CE’s ability to find unpermitted STRs.

Several cities employ third-party platforms offering an array of services, including STR registration portals, a complaints hotline and/or online portal, and tax payment portals. These platforms offer efficient and potentially cost-effective options to aid staff monitoring STRs.

Cities may also select a third-party platform option that identifies both permitted and unpermitted STRs advertising on OBAs.

STR Policies Vary in Orange County
Each of the thirty-four cities in Orange County has its own policies. As of this writing, nineteen of the cities had a ban on all STRs and fifteen allowed STRs (see Table 1). Unincorporated areas of the county (e.g., Rossmoor, North Tustin) are covered by County of Orange policy through the OC Public Works department, which issues permits; however, the Grand Jury did not observe STR volumes in unincorporated areas warranting analysis.

Cities With an STR Ban
The Grand Jury learned that it is difficult for cities to enforce a ban. Cities report that after they enacted a ban, the volume of STRs saw a notable decline; however, some unpermitted STRs still continued to operate. Cities may use a rental identification database and a complaint portal to improve compliance, often through third-party software. These databases can often identify the address of an unpermitted STR and allow follow-up with the property owner. At least one city with technologically savvy CE staff has performed this task without help from a third-party platform.

All cities in the coastal zone have permits for STRs, and this is linked to mandates from the California Coastal Commission (CCC) which issued a 2016 memo with guidance that coastal cities provide “lower cost visitor…facilities” and beach access via STRs.

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Cities Without a Specific STR Ordinance
Some cities without an STR ordinance have operated on the assumption that because STRs are not defined by an ordinance, they are banned. However, when an STR operator challenges a citation, these cities have often discovered that the subsequent court ruling goes against the city, as evidenced by recent cases described below. Cities often respond to these losses by drafting new ordinances and amendments, but sometimes a new STR operator will find another legal gap, and the “whack-a-mole” game continues.

Multi-unit apartment complexes may also host unpermitted STRs in cities that have bans. Photos used in online advertising often make complexes easy to find, but identifying specific units may be difficult. Property managers are more familiar with the units and can sometimes help CE track these down.

Some properties without permits are advertised on foreign-language websites. Image searches may uncover these host sites, but the Grand Jury did not identify any solution yet for this challenge.

How Cities Collect Complaints
Many Orange County cities provide an online complaint portal as well as a telephone hotline; these services are staffed by a third-party platform or by city staff. In cities that allow STRs, Code Enforcement will reach out to the STR emergency contact to initiate complaint resolution.

Issues with STR Code Enforcement
Most STR operators want to avoid citations and fines. Neighbor complaints can lead to notices of violation, fines, and ultimately revocation of the STR operating permit. With effective enforcement, STRs that violate city codes receive a citation and/or fine. This can result in improved behavior on the part of the STR operator.

In the fifteen cities that allow STRs, neighbors face hurdles in complaint resolution. This, along with laxity in enforcement, may explain why fewer than ten percent of STRs record a complaint in a given year, a number that fails to reflect the frustration of STR neighbors.

Tracking and confirmation of complaints is often difficult. In order to enforce STR ordinance rules, code or law enforcement must first substantiate that the source is an STR. In some cities that permit STRs, Code Enforcement works only during regular business hours. Nuisance reports often occur in the evening or early morning, when CE may not be on duty. Therefore, residents or other complainants do not receive a timely response and the problem is not resolved at the time of the actual nuisance, if ever.

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Most ordinances require an emergency contact for each STR, but a review of hundreds of complaints between 2022 and 2024 shows that in a number of cases the contact does not respond either in the thirty- or sixty-minute required time frame.

Warnings and citations may take up to a week to issue and are recorded in an STR complaint log.

The STR operator may appeal the citation. Initial appeals are made through a city official or a third-party administrative officer. This can take some time, during which the STR may continue to operate. An ordinance without an appeals procedure may be challenged in the courts.

The Grand Jury learned that in most cities, CE investigates complaints with a fair bit of leniency.

First, the CE officer will visit the property and confirm the violation. The most common complaint is noise, and this violation must be observed and verified by the CE officer. Other complaints may involve vehicle parking, trash, and exceeding permitted occupancy. The CE officer often works through the emergency contact to resolve problems and often will issue a warning rather than a citation.

Tools That Help Code Enforcement Accomplish Their Goals Cities that allow STRs would benefit from a system that geographically integrates STR owner contact information, permit, and business license numbers. Having this information readily available would enable CE to respond to complaints more effectively. Some of the third-party platforms offer these tools, but using a third-party platform requires a degree of technical knowledge and an investment in Code Enforcement training. Some cities accomplish this work with internal tools and staff.

Beyond responding to complaints, CE in some cities proactively inspect permitted STRs and/or confirm the emergency contacts. These inspections confirm occupancy limits, ensure that safety equipment is onsite, and validate that no unpermitted construction has been done on the property.

Legal Cases Uncover Gaps in STR Ordinances
Recent cases up and down the state have established firm guidance for cities as they deal with STR issues. The Grand Jury identified a few cases that clarified areas of ambiguity in existing STR ordinances:

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Table 3: Recent selected legal findings related to STRs Case Decision
People v. Venice Suites, LLC, 71
Cal. App. 5th 715, 732-34 (2021)
Specificity in zoning language is necessary.

Length of occupancy was not specified in
code and therefore STR usage would be
permitted.

Keen v. City of Manhattan Beach, 77
Cal. App. 5th 142 (2022)
The term “residence” alone is not effective in
banning STRs. A specific STR ordinance is
necessary.

Coastal Protection Alliance Inc. v.

Airbnb, Inc., 95 Cal. App. 5th 207,
270 (2023)
Operation of STRs in coastal zones does not
in and of itself constitute an increase in
density or intensity requiring changes in
zoning.

Kracke v. City of Santa Barbara, 63
Cal. App. 5th 1089 (2021)
Coastal cities need to secure and comply with
Coastal Commission rulings before drafting
any limiting ordinances pertaining to STRs.

These rulings highlight gaps in city ordinances and may provide grounds for appeal of STR citations. In light of these rulings, the cities of Anaheim and Santa Ana amended their codes to incorporate language that plugs the gaps, resulting in more effective STR enforcement.

Managing Permit Scarcity
Limits on the number of STR permits create a quasi-monopoly. In some cities, the permit limit was set at a point in time when no limit existed. The cities selected a number slightly greater than the inventory then in existence. Once the limit was set, these cities saw an acceleration in applications up to the limit.

In some cities, STRs are excluded only in certain zones. Single family home (R1) zones and Homeowner Associations (HOAs) often have exclusions. Other cities permit unlimited STRs in a “vacation home zone” near the beach or an attraction. Still others allow one STR in a fixed radius (typically 300 feet), which effectively limits permits.

At least three cities (Newport Beach, Dana Point, and Orange) have created waiting lists in response to having more applications than available permits. However, STR operators rarely voluntarily relinquish their permits. If an STR has been converted to a long-term rental, then it is no longer subject to TOT. Unless the STR operator informs the city of the conversion, a city that only collects TOT annually (as at least one city does) will not know for a year that the unit is no longer operating as an STR. At that point, as they have not received any TOT from the unit, the Long-Term Solutions to Short-Term Rentals
2024-2025 Orange County Grand Jury Page 12
city can initiate proceedings to rescind the STR permit and pass it on to the next applicant on the waiting list. However, the STR operator can appeal, and this can extend the process even longer.

Some cities allow permit holders to transfer their permit to a family member or to the new owner of their property, thus circumventing the waiting list altogether. A system where permits expire after a certain time would afford those on the waiting list an opportunity to be placed ahead of renewals, thus creating a more equitable process. One city, Dana Point, has set a limit on investor-owned properties, allowing more Hosted STRs to have priority in getting permits.

Collecting TOT Revenue
The fifteen cities that allow STRs (see Table 1) collect TOT on STR revenue, plus any fees charged to the renter. Operators report TOT to cities either annually, quarterly, or monthly.

Monthly reporting of TOT has several advantages: cities receive TOT sooner, the STR owner has a smoother and more predictable cash flow, and cities can quickly identify non-revenueproducing STRs.

In cities like Dana Point and Anaheim, TOT represents a substantial percentage of city revenue; however, nearly all of this comes from hotels. Short-term rental TOT in Newport Beach represents thirty percent of total TOT collections, contributing two percent of city revenues.

Newport Beach has the greatest share of TOT revenue from STRs (with 1,550 units) and the greatest number of STRs of all Orange County cities. Transient Occupancy Tax rates vary by city from eight to seventeen percent. Despite the limited amounts, each city that collects shortterm rental TOT increases their general fund.

Each city handles TOT collection differently. Newport Beach collects quarterly from agents who operate STRs and annually from STR homeowners, using paper-based forms. This system does not allow for easy tracking of short-term rental TOT by permit number because multiple units at the same address (with separate permits) may be combined on the form. A digital submission by unique permit number, such as is used by the City of Orange, is easy and provides greater detail to the city.

The City of Anaheim has agreements called Voluntary Collection Agreements (VCAs) with a number of Online Booking Agency platforms that enable monthly TOT remittance from shortterm rental advertising on the OBA. In most cases, OBAs share a spreadsheet with totals only; however, at least one platform remits with detailed addresses with amounts by address. It is possible for an OBA to send more detailed data and for the city to integrate it into its information systems, but as yet no city appears to have negotiated with an OBA to implement this direct reporting. Requiring an OBA to report more detail ensures that all STR tax from Online Booking Agency is reported, collected, and remitted to the city, whether the STR is permitted or not.

However, this system still would not capture STRs booked directly with the operator, which may be up to 30-60% of gross rental revenue.

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At least one city (Orange) requires that TOT reporting include the number of days the STR is available for rent and number of days rented each month. Capturing these statistics facilitates desk auditing.

A “desk audit” is a remote review of the STR operators’ reported information to ensure compliance with TOT reporting requirements. This is in contrast to a “business-level audit,” which is performed by the city on site and involves verification of the reported information against third-party records, such as bank statements.

The Grand Jury’s review of a subset of Orange County cities did not identify any that did more than desk audits on short-term rental TOT receipts. Put simply, these cities currently rely on the “honor system.” Conducting business-level audits would allow cities to discover and collect additional funds. However, a city should consider the cost of enforcement versus the financial benefit of STR business audits, especially in smaller cities with limited short-term rental TOT.

Major Events Fuel Demand for STRs
Reports from the 2024 Olympic games indicate that the average price per night of STRs in and around Paris more than doubled during the Olympics, and total inventory grew by nearly fifty percent. With the coming 2026 Los Angeles World Cup and the 2028 Los Angeles Olympics, these surges are likely to be seen in Orange County, especially with the Honda Center and Trestles Beach—both in Orange County—being used as Olympic venues. Orange County cities have not yet dedicated resources to plan around STRs for these major events.

STR Impact on Affordable Housing
Some housing advocates argue that STRs reduce the inventory of much needed and mandated affordable housing. The Grand Jury found that STRs have a negligible effect on affordable housing in cities that currently allow STRs. The Southern California Association of Governments, acting under the direction of the State Housing Element Law, sets a mandated volume of new units by city for Very Low Income (VLI) and Low Income (LI) units, and this analysis uses it as the estimate of needed affordable units.

The Grand Jury’s analysis of inland cites suggests that if their existing STR units were converted to affordable housing, they would contribute at most about eight percent (125/1,671 from Table 4) of the affordable units required (in the city of Orange), and a much smaller percentage in other inland cities.

On the other hand, in coastal cities, the STR volumes appear to meet a sizable portion of affordable unit goals. However, coastal cities must comply with State law enforced through the California Coastal Commission (CCC). The CCC weighs in on all coastal development and changes, and any modification of a city’s zoning rules or limits on STRs would be subject to the CCC’s approval. The CCC’s stated goal is to preserve access to public beaches and low-cost Long-Term Solutions to Short-Term Rentals
2024-2025 Orange County Grand Jury Page 14
short-term housing, which includes STRs. It is therefore unrealistic to expect that coastal STRs would be converted to long-term affordable housing in any sizeable number.

Table 4: STR permit limits and affordable housing needed (Housing Element) Housing Element 6th Series Unit Goals
Inland Cities
Limit on
STR Permits
Very Low
Income
(VLI)
Low
Income
(LI)
VLI+LI Unit
Goal
Anaheim 277 3,767 2,397 6,164
Buena Park 11 2,119 1,343 3,462
Fullerton 100 3,198 1,989 5,187
Orange 125 1,067 604 1,671
Coastal Cities*
Dana Point 115 147 84 231
Laguna Beach 300 118 80 198
Newport Beach 1,550 1,456 930 2,386
San Clemente 225 282 164 446
Seal Beach 33 258 201 459
*Subject to CCC legal requirements
Equally important is the fact that there is rarely a one-to-one relationship between STRs and long-term housing. In many areas of the County, STRs are luxury or large-scale homes. It is extremely unlikely that such homes could or would be easily converted into affordable housing or demolished to create multiple affordable dwellings. Aside from the complications of such an endeavor, the likelihood that neighbors would acquiesce to these changes is negligible.

Based on the above factors, the Grand Jury concludes that, contrary to widely held belief, STRs should not be considered a significant factor in the availability of affordable housing in Orange County cities with STRs.

STRs Can be Good Neighbors
The burden of getting STR operators to function in a community friendly way should be on the operator and government, not the neighborhood residents. Best practices include the following:
• Updated ordinances that limit how STRs can advertise and specifically exclude STRs from banned cities
• Concise city permitting guidance
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• An easy-to-use complaint system for residents
• Diligent code enforcement
• Requiring an in-person contact
• Permit numbers in all advertising
• Monthly electronic collection of TOT
Several Orange County cities, such as Seal Beach, Dana Point, and Orange, have clear permitting procedures that explicitly outline Good Neighbor policies, yielding low complaint rates.

Anaheim and Santa Ana have made ordinance revisions that improve the odds that their cities will prevail in appeals to STR citations. Newport Beach, Dana Point, and Anaheim perform regular inspections on new and existing STRs to ensure units are safe and code compliant.

Incorporating the above elements in a city’s ordinances and practicing effective code enforcement would enhance the relationship between STR business operators and their neighbors. Moreover, better communication among cities to share these best practices would greatly improve the management of STRs.

FINDINGS
In accordance with California Penal Code Sections 933 and 933.05, the 2024-2025 Grand Jury requires (or as noted, requests) responses from each agency affected by the findings presented in this section. The responses are to be submitted to the Presiding Judge of the Superior Court.

Based on its investigation “Long-Term Solutions to Short-Term Rentals,” the 2024-2025 Orange County Grand Jury has arrived at twelve findings, as follows:

F1: Despite the increasing media coverage of Online Booking Agencies (OBAs), STRs are not a new phenomenon in Orange County.

F2: The steady growth of STR usage in the last decade raises concerns of potential public nuisance.

F3: Even with robust Code Enforcement, a city’s statutory ban on STRs is not enough to keep STRs from operating.

F4: Anaheim’s ordinance requires OBAs to report Transient Occupancy Tax (TOT) directly to the city. This has led to the favorable consequence that unpermitted STR income is reported to the city.

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F5: Proactive home inspections of new and renewing STRs, which have been implemented in some Orange County cities, improve code enforcement and STR compliance with city ordinances.

F6: Direct remittance of taxes by OBAs does not capture all TOT for an STR because of direct booking practices.

F7: Some cities in Orange County have outdated systems for tracking short-term rental TOT making the process less effective and more difficult for staff.

F8: In some cases, STRs are improperly recharacterized as long-term rentals to circumvent the collection of TOT and any applicable penalties.

F9: Online Booking Agencies in foreign languages are outside the current capabilities of Code Enforcement to monitor and track unpermitted STRs.

F10: Cities that fail to routinely review their STR waiting lists potentially lose TOT revenue and contribute to a greater prevalence of unpermitted STRs.

F11: Locations that have hosted major events have reported an outsized increase in demand and pricing of STRs, a situation Orange County is likely to experience with the upcoming 2026 Los Angeles World Cup and 2028 Los Angeles Olympics.

F12: City leaders have no regular communication with each other concerning STR issues, limiting opportunities to develop strategies and expertise to improve service.

RECOMMENDATIONS
In accordance with California Penal Code Sections 933 and 933.05, the 2024-2025 Grand Jury requires (or, as indicated, requests) responses from each agency affected by the recommendations presented in this section. The responses are to be submitted to the Presiding Judge of the Superior Court.

Based on its investigation described herein, the 2024-2025 Orange County Grand Jury makes the following nine recommendations:

R1: Cities should review and begin to update ordinances to keep up with the rapidly changing nature of court findings and legislation related to STRs, by December 31, 2025, and no less frequently than every three years thereafter. (F4, F12) R2: Cities should consider developing a plan for upcoming major events that are expected to create a surge in demand for STRs and its associated Transient Occupancy Tax, by December 31, 2025, and no less frequently than every two years thereafter. (F11) Long-Term Solutions to Short-Term Rentals
2024-2025 Orange County Grand Jury Page 17
R3: Cities that allow STRs should evaluate the benefit of ordinances facilitating Voluntary Collection Agreements requiring OBAs to submit TOT directly, by June 30, 2026. (F4, F12) R4: Cities that allow STRs should evaluate the benefit of collecting TOT on a monthly basis by individual property, by June 30, 2026. (F7, F8)
R5: Cities should require STRs to include the number of days rented per month per permit to facilitate short-term rental TOT desk audits by November 30, 2025. (F7, F8) R6: Cities with a permit waiting list should implement strategies to remove non-revenuegenerating licenses to allow for fair access by December 31, 2025, and annually thereafter. (F7, F10)
R7: Cities that allow STRs should consider allocating resources to update their short-term rental TOT tracking systems by September 30, 2026. (F7, F8, F10) R8: Cities that allow STRs should consider random multi-year audits to confirm TOT by June 30,2026, and annually thereafter. (F6, F7, F8)
R9: City leaders should have regular discussions with each other to share STR management strategies on a biannual basis commencing no later than January 1, 2026. (F12)

RESPONSES
The following excerpts from the California Penal Code provide the requirements for public agencies to respond to the Findings and Recommendations of this Grand Jury report:

Penal Code Section 933:
(c) No later than 90 days after the grand jury submits a final report on the operations of any public agency subject to its reviewing authority, the governing body of the public agency shall comment to the presiding judge of the superior court on the findings and recommendations pertaining to matters under the control of the governing body, and every elected county officer or agency head for which the grand jury has responsibility pursuant to Section 914.1 shall comment within 60 days to the presiding judge of the superior court, with an information copy sent to the board of supervisors, on the findings and recommendations pertaining to matters under the control of that county officer or agency head and any agency or agencies which that officer or agency head supervises or controls. In any city and county, the mayor shall also comment on the findings and recommendations. All of these comments and reports shall forthwith be submitted to the presiding judge of the superior court who impaneled the grand jury. A copy of all responses to grand jury reports shall be placed on file with the clerk of the public agency and the office of the county clerk, or the mayor when applicable, and shall remain on file in those offices. One copy shall be placed on file with the applicable grand jury final report by, and in the control of the currently impaneled grand jury, where it shall be maintained for a minimum of five years.

Long-Term Solutions to Short-Term Rentals
2024-2025 Orange County Grand Jury Page 18
Penal Code Section 933.05:
(a) For purposes of subdivision (b) of Section 933, as to each grand jury finding, the responding person or entity shall indicate one of the following:
(1) The respondent agrees with the finding.
(2) The respondent disagrees wholly or partially with the finding, in which case the response shall specify the portion of the finding that is disputed and shall include an explanation of the reasons therefor.
(b) For purposes of subdivision (b) of Section 933, as to each grand jury recommendation, the responding person or entity shall report one of the following actions:
(1) The recommendation has been implemented, with a summary regarding the implemented action. (2) The recommendation has not yet been implemented, but will be implemented in the future, with a timeframe for implementation.
(3) The recommendation requires further analysis, with an explanation and the scope and parameters of an analysis or study, and a timeframe for the matter to be prepared for discussion by the officer or head of the agency or department being investigated or reviewed, including the governing body of the public agency when applicable. This timeframe shall not exceed six months from the date of publication of the grand jury report.
(4) The recommendation will not be implemented because it is not warranted or is not reasonable, with an explanation therefor.
(c) However, if a finding or recommendation of the grand jury addresses budgetary or personnel matters of a county agency or department headed by an elected officer, both the agency or department head and the board of supervisors shall respond if requested by the grand jury, but the response of the board of supervisors shall address only those budgetary or personnel matters over which it has some decision-making authority. The response of the elected agency or department head shall address all aspects of the findings or recommendations affecting his or her agency or department.
(d) A grand jury may request a subject person or entity to come before the grand jury for the purpose of reading and discussing the findings of the grand jury report that relates to that person or entity in order to verify the accuracy of the findings prior to their release. (e) During an investigation, the grand jury shall meet with the subject of that investigation regarding the investigation, unless the court, either on its own determination or upon request of the foreperson of the grand jury, determines that such a meeting would be detrimental. (f) A grand jury shall provide to the affected agency a copy of the portion of the grand jury report relating to that person or entity two working days prior to its public release and after the approval of the presiding judge. No officer, agency, department, or governing body of a public agency shall disclose any contents of the report prior to the public release of the final report.

Responses Required
Comments to the Presiding Judge of the Superior Court in compliance with Penal Code Section 933.05 are required within 90 days of the date of the publication of this report from:

Long-Term Solutions to Short-Term Rentals
2024-2025 Orange County Grand Jury Page 19
Findings
City Councils of the following cities:

Dana Point, Fullerton, Huntington Beach, Laguna Beach, Newport Beach, San Clemente, San Juan Capistrano, Seal Beach
F1, F2, F5, F6, F7,
F8, F9, F10, F11, F12
Costa Mesa, Irvine, Santa Ana F1, F2, F3, F12
Anaheim F1, F2, F4, F5, F6,
F7, F8, F9, F11, F12
Recommendations
City Councils of the following cities:

Anaheim, Dana Point, Fullerton, Huntington Beach, Laguna Beach, Newport Beach, Orange, San Clemente, San Juan Capistrano, Seal Beach
R1, R2, R3, R4, R5,
R6, R7, R8, R9
Costa Mesa, Irvine, Santa Ana R1, R2, R9
Requested Responses
Comments to the Presiding Judge of the Superior Court in compliance with Penal Code Section 933.05 are requested within 90 days of the date of the publication of this report from:

Findings
City Councils of the following cities:

Buena Park, La Palma, Lake Forest, Mission Viejo, Placentia F1, F2, F5, F6, F7, F8, F9, F10, F11, F12
Aliso Viejo, Brea, Cypress, Fountain Valley, Garden Grove, La Habra, Laguna Hills, Laguna Niguel, Laguna Woods, Los Alamitos, Rancho Santa Margarita, Stanton, Tustin, Villa Park, Westminster, Yorba Linda
F1, F2, F3, F12
Recommendations
City Councils of the following cities:

Buena Park, La Palma, Lake Forest, Mission Viejo, Placentia R1, R2, R3, R4, R5, R6, R7, R8, R9
Long-Term Solutions to Short-Term Rentals
2024-2025 Orange County Grand Jury Page 20
Aliso Viejo, Brea, Cypress, Fountain Valley, Garden Grove, La Habra, Laguna Hills, Laguna Niguel, Laguna Woods, Los Alamitos, Rancho Santa Margarita, Stanton, Tustin, Villa Park, Westminster, Yorba Linda
R1, R2, R9

BIBLIOGRAPHY
Better Neighbors LA. "BNLA Annual Report 2022." February 24, 2023. https://static1.squarespace.com/static/5fc9845732f65217775cb3a5/t/63f8e87357c81b1848 48b95b/1677256830192/BNLA_Annual+Report_2022-web.pdf.

California Coastal Commission. "Short Term Vacation Rental Memo to Coastal Planning and Development Directors." December 6,
2016. https://documents.coastal.ca.gov/assets/la/Short_Term_Vacation_Rental_to_Coastal_Plan ning_&_Devt_Directors_120616.pdf.

California Coastal Commission. "Recent LCP Policy Examples for Lower Cost Overnight Accommodations." 2023. https://documents.coastal.ca.gov/assets/lower-cost-coastallodging/LCOA-Doc2.pdf.

Costar. "Summer Olympics Drove Paris Room Rates to All-Time Highs." CoStar, August 11, 2024. https://www.costar.com/article/54408592/summer-olympics-drove-paris-room-rates-to-alltime-highs.

Dubetz, Alissa, Matt Horton, and Charlotte Kesteven. "Staying Power: The Effects of ShortTerm Rentals on California’s Tourism Economy and Housing Affordability." Milken Institute, June 1, 2022. https://milkeninstitute.org/content-hub/research-and-reports/reports/staying-powereffects-short-term-rentals-californias-tourism-economy-and-housing-affordability Humphreys, Lucy. "Regulating Short-Term Rentals in California's Coastal Cities: Harmonizing Local Ordinances with the California Coastal Act." Loyola of Los Angeles Law Review 52 (2019): 309.

Jin, Ginger Zhe, Liad Wagman, and Mengyi Zhong. "The Effects of Short-term Rental Regulation: Insights from Chicago." November 19, 2023.

SSRN. https://ssrn.com/abstract=4638022 or http://dx.doi.org/10.2139/ssrn.4638022.

Reinhard, D., and J.J. Roth. "Renting Trouble? An Analysis of Crime and Calls to Police at Addresses with Different Rental Types." Crime Science 13, no. 35 (2024). https://doi.org/10.1186/s40163-024-00232-8.

Long-Term Solutions to Short-Term Rentals
2024-2025 Orange County Grand Jury Page 21
Safely. "The Best Alternatives to Airbnb and VRBO: The Rise of the Niche Platforms." Safely, February 17, 2025. https://safely.com/articles/the-best-alternatives-to-airbnb-and-vrbo-the-riseof-the-niche-platforms/.

Thompson, Robert. "Affordable Twenty-Four Hour Coastal Access: Can We Save a Working Stiff's Place in Paradise?" Ocean and Coastal Law Journal 12, no. 1 (2006). https://digitalcommons.mainelaw.maine.edu/oclj/vol12/iss1/5/.

Urevich, Robin. "Is My Short-Term Los Angeles Rental Legal?" ProPublica, September 3, 2024. https://www.propublica.org/article/is-my-short-term-los-angeles-rental-legal.

Wachsmuth, David, and Danielle Kerrigan. "Short-Term Rentals in Los Angeles: 2022 Report." Urban Politics and Governance Research Group, McGill University, 2022. https://upgo.lab.mcgill.ca/publication/strs-in-los-angeles-2022/Wachsmuth_LA_2022.pdf.

ANNOTATED BIBLIOGRAPHY
Airbnb. “Vacation Rentals, Homes, Experiences & Places.” Airbnb.com. Accessed January 6, 2025. https://www.airbnb.com.

Leading booking platform for STRs.

AirDNA. “Short-Term Rental Data & Analytics.” AirDNA.co. Accessed January 6, 2025. https://www.airdna.co.

Platform that tracks the STR market, claiming listings of ten million properties that are then linked to partner data to detect reservations and calculate market performance. Market-level volumes are reported with projections. Subscriptions allow for detailed searching and market reports.

Booking.com. “Booking.com: Hotels, Apartments, Villas, Hostels & More.” Booking.com.

Accessed January 6, 2025. https://www.booking.com.

Leading booking platform includes hotels and STRs.

Deckard. “Deckard Technologies.” Deckard.com. Accessed January 6, 2025. https://www.deckard.com.

Owner of Rentalscape product, a third-party platform working with cities, offering STR detection with address identification, complaint platform (call-center, web reporting), and tax collection.

Granicus. “Host Compliance.” Granicus.com. Accessed January 6, 2025. https://granicus.com/product/host-compliance/.

Third-party platform working with cities offering STR detection, a complaint platform and tax collection. Host Compliance product recently integrated into Granicus.

Long-Term Solutions to Short-Term Rentals
2024-2025 Orange County Grand Jury Page 22
Rabbu. “Short-Term Rental Property Management.” Rabbu.com. Accessed January 6, 2025. https://rabbu.com.

One of several investment platforms that does market analysis for STR buyers.

STR. “Hotel Industry Data & Benchmarking.” STR.com. Accessed January 6, 2025. https://www.str.com.

Part of the Costar Group of real estate data companies; tracks data on hospitality markets with a primary focus on hotels, but STR data such as prices and volumes are also tracked.

Vacasa. “Vacation Rentals.” Vacasa.com. Accessed January 6, 2025. https://www.vacasa.com.

Vacation rental management and booking site. Provides services to owners and customers.

VRBO. “Vacation Rentals by Owner.” VRBO.com. Accessed January 6, 2025. https://www.vrbo.com.

Leading booking platform, part of Expedia travel group. Integrated Home Away in 2019.

Zumper. “Apartments for Rent.” Zumper.com. Accessed January 6, 2025. http://zumper.com.

One of many aggregating sites for rentals across platforms. Limits searches to strict city boundaries when searching.
7800 Katella Avenue
Stanton, CA 90680
P | (714) 890-4245
F | (714) 890-1443
[email protected]
www.StantonCA.gov
Community Pride & Forward Vision
Date:

August 13, 2025
Presiding Judge of the
Superior Court
700 Civic Center Drive West
Santa Ana, CA 92701
Dear Honorable Judge Maria Hernandez,
The City of Stanton received the 2024-2025 Orange County Grand Jury report entitled “Long-Term Solutions to Short-Term Rentals”. As required by California Penal Code Sections 933 and 933.05, the City of Stanton is responding to the findings and recommendations included in the report.

Note: The original Grand Jury findings are repeated below in italics. The City’s responses are in bold, with additional explanation and commentary in regular typeface. References to the “City” refer to the City of Stanton, California.

Findings
F1 Despite the increasing media coverage of Online Booking Agencies (OBAs), STRs are not a new phenomenon in Orange County.

The respondent agrees with the finding.

F2 The steady growth of STR usage in the last decade raises concerns of potential public nuisance.

The respondent agrees with the finding.

F3 Even with robust Code Enforcement, a city’s statutory ban on STRs is not enough to keep STRs from operating.

The respondent agrees with the finding.

F12 City leaders have no regular communication with each other concerning STR issues, limiting opportunities to develop strategies and expertise to improve service.

The respondent agrees partially with the finding.

While there is no formal regular communication medium dedicated solely to STR-related issues among City leaders in Orange County, communication and collaboration does occur.

In addition to mediums for elected officials such as the League of California Cities and the Association of California Cities – Orange County, city managers and planning directors participate in various professional organizations in which a range of municipal issues are discussed, including STRs.

Attachment: B
Click here to return to the agenda.
7800 Katella Avenue
Stanton, CA 90680
P | (714) 890-4245
F | (714) 890-1443
[email protected]
www.StantonCA.gov
Community Pride & Forward Vision
Date:

August 13, 2025
Presiding Judge of the
Superior Court
700 Civic Center Drive West
Santa Ana, CA 92701
Recommendations
R1 Cities should review and begin to update ordinances to keep up with the rapidly changing nature of court findings and legislation related to STRs, by December 31, 2025, and no less frequently than every three years thereafter.

The recommendation will not be implemented because it is not warranted or is not reasonable, with an explanation therefor.

The City does not permit STRs.

The recommendation will not be implemented because it is not warranted or is not reasonable, with an explanation therefor
The City does not permit STRs.

R9 City leaders should have regular discussions with each other to share STR management strategies on a biannual basis commencing no later than January 1, 2026.

The recommendation will be implemented.

City staff will continue to attend and participate in those professional associations and events where issues such as STRs are addressed.

Should you have any questions or need any additional information, please contact Hannah ShinHeydorn, City Manager, at (714) 890-4277 or via email at [email protected].

Respectfully,
David J. Shawver
Mayor
Cc: Orange County Grand Jury
700 Civic Center Drive West
Santa Ana, CA 92701

CITY OF STANTON

REPORT TO THE CITY COUNCIL
TO: Honorable Mayor and Members of the City Council
DATE: August 12, 2025
SUBJECT: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF STANTON, CALIFORNIA APPROVING SUBDIVISION TRACT MAP NO. 19184
REPORT IN BRIEF:

The subdivision tract map for the development of four detached condominium units located at 8222 Starr Street has been submitted by the developer for final certification and recordation.

RECOMMENDED ACTION:

1. City Council declare this project categorically exempt under the California Environmental Quality Act, Class 3, Section 15303 (New Construction or Conversion of Small Structures); and

3. Find that the recordation of Tract Map No. 19184 will not be in violation of any of the provisions of Section 66474, 66474.1, and 66474.2 of the Subdivision Map Act; and

5. Authorize the Mayor to execute the Subdivision Improvement Agreement for Tract Map No. 19184; and
Item: 9G
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BACKGROUND:

On April 20, 2022, the Planning Commission of the City of Stanton adopted Tentative Tract Map No. 19184, Site Plan and Design Review No. SPDR-809, and Minor Variance No. MV 21-01 for development of four detached condominium units located at 8222 Starr Street.

As a condition of approval of the project, a final tract map must be completed, reviewed, and approved by the City Council. The final map has been reviewed and found to be in compliance with the City’s general plan and zoning land use designations.

ANALYSIS AND JUSTIFICATION:

Recording of the final tract map is required per Section 66426 of the Subdivision Map Act. The City Engineer has reviewed the subdivision Tract Map No. 19184 and all associated documentation, and he is satisfied that the final tract map substantially complies with the Site Plan and Design Review No. SPDR-809 and Minor Variance No.

MV 21-01.

Orange County Public Works has also reviewed Tract Map No. 19184 and has certified the technical correctness of the Map and its compliance with the provisions of the Subdivision Map Act.

FISCAL IMPACT:

None.

ENVIRONMENTAL IMPACT:

In accordance with the requirements of the California Environmental Quality Act (CEQA), this project has been determined to be categorically exempt under Section 15303, Class 3 (New Construction or Conversion of Small Structures).

PUBLIC NOTIFICATION:

Public notification provided through the regular agenda process.

LEGAL REVIEW:

None.

STRATEGIC GOAL:

None.

Prepared by: Han Sol Yoo, P.E., Civil Engineer
Reviewed by: Cesar Rangel, P.E., Director of Public Works/City Engineer Approved by: Hannah Shin-Heydorn, City Manager
ATTACHMENTS:

A. Resolution No. 2025-30
B. Final Tract Map No. 19184
C. Subdivision Improvement Agreement
RESOLUTION NO. 2025-30

Page 1 of 2 ends

RESOLUTION NO. 2025-30

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF STANTON, CALIFORNIA, APPROVING SUBDIVISION TRACT MAP NO. 19184 FOR THE PROPERTY LOCATED AT 8222 STARR STREET
WHEREAS, on April 20, 2022, the Planning Commission of the City of Stanton adopted Tentative Tract Map No. 19184, Site Plan and Design Review No. SPDR-809, and Minor Variance No. MV 21-01 for development of four detached condominium units located at 8222 Starr Street; and
WHEREAS, all necessary documentation associated with this subdivision has been reviewed by the City Engineer; and
WHEREAS, the final map is substantially in compliance with the previously approved Tentative Tract Map No. 19184; and
WHEREAS, the City Council has made the finding that none of the conditions for mandatory denial exist relative to the proposed subdivision, in accordance with Section 66474, 66474.1 and 66474.2 of the Subdivision Map Act; and WHEREAS, the City Council finds that the proposed subdivision, together with the provisions for its design and improvement, is consistent with the general plan required by Article 5 (commencing with Section 65300) of Chapter 3 of Division 1 of the Government Code, or any specific plan adopted pursuant to Article 8 (commencing with Section) 65450) of Chapter 3 of Division 1 of the Government Code; and WHEREAS, the City Council finds that final Tract Map No. 19184 satisfies the provisions of the Subdivision Map Act, Stanton Municipal Code and the Conditions of Approval.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF STANTON,

CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE, FIND AND ORDER AS FOLLOWS that the City Council of the City of Stanton, California, hereby approves final Tract Map No. 19184.

ADOPTED, SIGNED AND APPROVED this 12th day of August, 2025.

DAVID J. SHAWVER, MAYOR
Attachment: A
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RESOLUTION NO. 2025-30

Page 2 of 2 ends

APPROVED AS TO FORM:

HONGDAO NGUYEN, CITY ATTORNEY
ATTEST:

I, Patricia A. Vazquez, City Clerk of the City of Stanton, California DO HEREBY CERTIFY that the foregoing Resolution, being Resolution No. 2025-30 has been duly signed by the Mayor and attested by the City Clerk, all at a regular meeting of the Stanton City Council, held on August 12, 2025, and that the same was adopted, signed and approved by the following vote to wit:

AYES:

NOES:

ABSENT:

ABSTAIN:

PATRICIA A. VAZQUEZ, CITY CLERK

SHEET 1 OF 4 SHEETS
CONTAINING 4 NUMBERED LOTS AND
1 LETTERED LOT
TRACT NO. 19184

ACCEPTED AND FILED AT THE

REQUEST OF

FIRST AMERICAN TITLE COMPANY
GROSS AREA = 18,011 SQ. FT.

NET AREA = 15,626 SQ. FT.

DATE OF SURVEY: AUGUST 2024

IN THE CITY OF STANTON, COUNTY OF ORANGE,

STATE OF CALIFORNIA
DATE ________ _
TIME ___ FEE $ __ _
ALL OF TENTATIVE TRACT NO. 19184 BEING A SUBDIVISION OF THE WEST 60 FEET OF LOT 17 OF TRACT NO. 591 AS PER MAP RECORDED IN BOOK 24, PAGE 20 OF MISCELLANEOUS MAPS, IN

THE OFFICE OF THE COUNTY RECORDER OF SAID ORANGE COUNTY INSTRUMENT NO. ____ _
BOOK ___ PAGE __ _

HUGH NGUYEN
LAN & ASSOCIATES, INC. LAN N. PHAM R.C.E. 29595

COUNTY CLERK - RECORDER

FOR CONDOMINIUM PURPOSE BY
OWNERSHIP CERTIFICATE:

WE, THE UNDERSIGNED, BEING ALL PARTIES HAVING ANY RECORD TITLE INTEREST IN

THE LAND COVERED BY THIS MAP, DO HEREBY CONSENT TO THE PREPARATION AND RECORDATION OF SAID MAP, AS SHOWN WITHIN THE DISTINCTIVE BORDER LINE.

WE HEREBY RESERVE TO OURSELVES, OUR HEIRS, SUCCESSORS AND ASSIGNS, LOT "A" FOR PRIVATE DRIVEWAY AND COMMON AREA PURPOSES, FOR THE BENEFIT OF LOTS 1, 2, 3, AND 4 AS SHOWN ON SAID MAP.

JL & SONS DEVELOPMENTS, LLC. A CALIFORNIA LIMITED LIABILITY COMPANY, SUBDIVIDER, OWNER.

BY:

NAME: VINH JAMES LE
TITLE: MANAGING MEMBER.

TRUSTEE:

BY:

NAME: MAI YEN LE
TITLE: MEMBER

COMMONWEAL TH LAND TITLE COMPANY, TRUSTEE UNDER DEED OF TRUST RECORDED OCTOBER 31, 2024 AS INSTRUMENT NO. 2024000284487 OF OFFICIAL RECORDS.

BY: BY:

NAME: NAME:

TITLE: TITLE:
--------- DEPUTY
ENGINEER'S STATEMENT:

THIS MAP WAS PREPARED BY ME OR UNDER MY DIRECTION AND IS BASED UPON A

FIELD SURVEY IN CONFORMANCE WITH THE REQUIREMENTS OF THE SUBDIVISION MAP

ACT AND LOCAL ORDINANCE AT THE REQUEST OF VINH JAMES LE IN AUGUST, 2024. I HEREBY STATE THAT ALL MONUMENTS ARE OF THE CHARACTER AND

OCCUPY THE POSITIONS INDICATED, OR THAT THEY WILL BE SET IN SUCH POSITIONS WITHIN NINETY DAYS AFTER ACCEPTANCE OF IMPROVEMENTS; AND THAT SAID MONUMENTS ARE SUFFICIENT TO ENABLE THE SURVEY TO BE RETRACED. I HEREBY

STATE THAT THIS FINAL MAP SUBSTANTIALLY CONFORMS TO THE APPROVED OR CONDITIONALLY APPROVED TENTATIVE MAP.

LAN N. PHAM
R.C.E. 29595
08/01/2025
DATE
EXPIRATION DATE 3-31-2027
CITY ENGINEER'S STATEMENT:

I HEREBY STA TE THAT I HAVE EXAMINED THIS MAP AND HAVE FOUND IT TO BE

SUBSTANTIALLY IN CONFORMANCE WITH THE TENTATIVE MAP, IF REQUIRED, AS FILED WITH, AMENDED AND APPROVED BY THE CITY PLANNING COMMISSION; THAT ALL

PROVISIONS OF THE SUBDIVISION MAP ACT AND CITY SUBDIVISION REGULATIONS HAVE BEEN COMPLIED WITH.

DATED THIS ______ �DAY OF _________ � 2025.

CESAR RANGEL, R.C.E. 86282

PUBLIC WORKS DIRECTOR/CITY ENGINEER

OF THE CITY OF STANTON
EXPIRATION DATE: 03/31/2025
COUNTY TREASURER-TAX COLLECTOR'S CERTIFICATE COUNTY SURVEYOR'S STATEMENT:

STATE OF CALIFORNIA ) I HEREBY STATE THAT I HAVE EXAMINED THIS MAP AND HAVE FOUND THAT ALL

COUNTY OF ORANGE ) SS MAPPING PROVISIONS OF THE SUBDIVISION MAP ACT HAVE BEEN COMPLIED WITH AND I AM SATISFIED SAID MAP IS TECHNICALLY CORRECT.

I HEREBY CERTIFY THAT ACCORDING TO THE RECORDS OF MY OFFICE, THERE ARE

NO LIENS AGAINST THE LAND COVERED BY THIS MAP OR ANY PART THEREOF FOR

UNPAID STATE, COUNTY, MUNICIPAL, OR LOCAL TAXES OR SPECIAL ASSESSMENTS

COLLECTED AS TAXES, EXCEPT TAXES OR SPECIAL ASSESSMENTS COLLECTED AS TAXES NOT YET PAYABLE.

AND DO CERTIFY TO THE RECORDER OF ORANGE COUNTY THAT THE PROVISIONS OF

THE SUBDIVISION MAP ACT HAVE BEEN COMPLIED WITH REGARDING DEPOSITS TO

SECURE PAYMENT OF TAXES OR SPECIAL ASSESSMENTS COLLECTED AS TAXES ON THE LAND COVERED BY THIS MAP.

DATED THIS ____ �DAY OF _________ � 2025.

SHARI L. FREIDENRICH BY: --------

COUNTY TREASURER-TAX COLLECTOR TREASURER-TAX COLLECTOR
SIGNATURE OMISSIONS:

PURSUANT TO THE PROVISIONS OF SECTION 66436(a)(3)(A) OF THE SUBDIVISION MAP ACT, THE FOLLOWING SIGNATURES HAVE BEEN OMITTED:

1. SOUTHERN CALIFORNIA EDISON COMPANY, HOLDER OF AN EASEMENT FOR

UNDERGROUND ELECTRICAL SUPPLY AND COMMUNICATION SYSTEMS AND INCIDENTAL PURPOSES PER DOCUMENT RECORDED JULY 05, 2024 AS INSTRUMENT NO. 2024000168011 OF OFFICIAL RECORDS.

DATED THIS ______ �DAY OF _________ � 2025.

LILY M. N. SANDBERG, CHIEF DEPUTY COUNTY SURVEYOR
P.L.S. 8402
CITY CLERK'S CERTIFICATE:

STATE OF CALIFORNIA )

COUNTY OF ORANGE ) SS

CITY OF STANTON )

I HEREBY CERTIFY THAT THIS MAP WAS PRESENTED FOR APPROVAL TO THE CITY

COUNCIL OF THE CITY OF STANTON AT A REGULAR MEETING THEREOF HELD ON THE ----�DAY OF ________ , 2025, AND THAT THEREUPON
SAID COUNCIL DID, BY AN ORDER DULY PASSED AND ENTERED, APPROVE SAID MAP.

AND DID ALSO APPROVE SUBJECT MAP PURSUANT TO THE PROVISIONS OF SECTION 66436(a)(3)(A) OF THE SUBDIVISION MAP ACT.

DATED THIS ____ �DAY OF _________ � 2025.

PATRICIA A. VAZQUEZ

CITY CLERK OF THE CITY OF STANTON
Attachment: B
Click here to return to the agenda.

RECORDED AT THE REQUEST OF
AND WHEN RECORDED RETURN TO:

City of Stanton
7800 Katella Avenue
Stanton, CA 90680
ATTN: City Clerk
(Exempt from Filing Fees - Govt Code § 27383)
SPACE ABOVE THIS LINE FOR RECORDER’S USE

SUBDIVISION IMPROVEMENT AGREEMENT

FORCOMPLETIONOFPUBLICIMPROVEMENTS
TRACT MAP NO. 19184
between

THECITYOF STANTON
a Californiamunicipal corporation
and

VINH JAMES LE AND MAI YEN LE

JL & SONS DEVELOPMENTS, LLC
BBK: December 2022
Attachment: C
Click here to return to the agenda.
2 BBK: December 2022

SUBDIVISION IMPROVEMENT AGREEMENT

FORCOMPLETIONOFPUBLICIMPROVEMENTS
TRACTMAPNO. 19184
This Subdivision Improvement Agreement for the Completion of Public Improvements (“Agreement”), effective August 12, 2025, is between the City of Stanton, a California municipal corporation (“City”) and Vinh James Le and Mai Yen Le, an [x] individual, [ ] partnership or [ ] corporation, with its principal office located at 406 14th Street, Huntington Beach, CA 92648 (“Developer”). City and Developer are sometimes individually referred to as “Party” and collectively as the “Parties.”
RECITALS.

A. On August 10, 2020, Developer submitted to City an application for approval of a tentative tract map for real property located within City, a legal description of which is attached hereto as Exhibit A (“Property”). The tentative tract map was prepared on behalf of Developer by Lan & Associates, and is identified in City records as TRACT MAP NO. 19184 (“TRACT MAP NO. 19184”).

B. Developer’s application for a tentative tract map for TRACT MAP NO. 19184 was deemed complete on April 7, 2022. On the 20th day of April, 2022, the Stanton Planning Commission conditionally approved Developer’s application for a tentative tract map for TRACT MAP NO. 19184.

C. Developer is the owner of the Property, and Developer proposes to do and perform certain work of improvement thereon as set forth in this Agreement.

D. Developer has not completed all of the work or made all of the public improvements required by Chapter 19 of the Stanton Municipal Code, the Subdivision Map Act (Government Code sections 66410, et seq.) (“Map Act”), the conditions of approval for TRACT MAP NO. 19184, or other ordinances, resolutions, or policies of City requiring construction of improvements in conjunction with the subdivision of land.

E. In accordance with Chapter 19 of the Stanton Municipal Code and the applicable provisions of the Map Act, Developer and City enter into this Agreement for the timely construction and completion of the public improvements and the furnishing of the security therefor, acceptable to the City Engineer and City Attorney, for TRACT MAP NO. 19184.

F. Developer’s execution of this Agreement and the provision of the security are made in consideration of City’s approval of the final map for TRACT MAP NO. 19184. 3 BBK: December 2022

TERMS AND CONDITIONS

1. Effectiveness. This Agreement taking effect is a necessary condition that must be satisfied before the final map for TRACT MAP NO. 19184 may be recorded. This Agreement only takes effect when each of the following conditions is satisfied: (a) Developer provides City with security of the type and in the amounts required by this Agreement; (b) Developer executes and records this Agreement in the Recorder’s Office of the County of Orange; (c) the City Council of the City of Stanton (“City Council”) approves the final map for TRACT MAP NO. 19184; and (d) Developer has satisfied all other conditions of the tentative map for TRACT MAP NO. 19184.

2. Definitions. For purposes of interpreting and enforcing this Agreement, the term “City” includes, but is not be limited to, the City Council, City Engineer, Director of Community Development, Building Official, and any of their authorized representatives. City has absolute discretion to determine which public body, public official or public employee may act on behalf of City for any particular purpose.

3. Public Improvements.

3.1 Scope and Cost.
(A) Developer will construct or cause to be constructed at its own cost, expense, and liability all improvements required by City as part of the approval of TRACT MAP NO. 19184, including, but not limited to, all grading, roads, paving, curbs and gutters, pathways, storm drains, sanitary sewers, utilities, drainage facilities, traffic controls, landscaping, street lights, and all other required facilities as shown in detail on the plans, profiles, and specifications that have been prepared by or on behalf of Developer for Tract Map No. 19184 (“Public Improvements”). The Public Improvements are more specifically described in Exhibit B, which is attached hereto and incorporated herein by this reference.
(B) Construction of the Public Improvements includes all transitions and other incidental work deemed by City to be necessary for drainage or public safety.
(C) Developer is responsible for the replacement, relocation, or removal of any component of any utility system or public improvement that is in conflict with the construction or installation of the Public Improvements. Such replacement, relocation, or removal must be performed to the complete satisfaction of the City Engineer and the owner of such utility system or public improvement.
4 BBK: December 2022
(D) Developer will provide all equipment, tools, materials, labor, tests, design work, and engineering services that are required by City to complete the Public Improvements.

3.2 Prior Partial Construction of Public Improvements. If any Public Improvement has been partially completed prior to the execution of this Agreement, Developer will complete the Public Improvement and all others or assure their completion in accordance with this Agreement.

3.3 Permits; Notices; Utility Statements. Before commencing any work, Developer must, at its sole cost, expense, and liability, obtain all necessary permits and licenses and give all necessary and incidental notices required for the lawful construction of the Public Improvements and performance of Developer’s obligations under this Agreement. Developer will conduct the work in full compliance with the regulations, rules, and other requirements contained in each permit or license issued to Developer.

3.4 Pre-approval of Plans and Specifications. Developer is prohibited from commencing work on any Public Improvement until all plans, specifications, estimates, and bonds for such Public Improvement have been submitted to and approved by the City Engineer and the City Attorney or their authorized designees.

Approval by the City Engineer does not relieve Developer from ensuring that all Public Improvements conform to all other requirements and standards set forth in this Agreement.

3.5 Quality of Work; Compliance with Laws and Codes. The construction plans and specifications for the Public Improvements must be prepared in accordance with all applicable federal, state, and local laws, ordinances, regulations, codes, standards, and other requirements. The Public Improvements must be completed in accordance with all approved maps, conditions, plans, specifications, standard drawings, and special amendments thereto on file with City, as well as with all applicable federal, state, and local laws, ordinances, regulations, codes, standards, and other requirements applicable when the work is actually commenced.

3.6 Standard of Performance. Developer and its contractors, if any, will perform all work required to construct the Public Improvements under this Agreement in a skillful and workmanlike manner, and consistent with the standards generally recognized as being employed by professionals in the same discipline in the State of California. Developer represents and warrants that it or its contractors is skilled in the professional calling necessary to perform the work. Developer warrants that all of its employees and contractors have sufficient skill and experience to perform the work assigned to them and that they have all licenses, permits, qualifications and approvals of whatever nature that are legally required to perform the work, and 5 BBK: December 2022
that such licenses, permits, qualifications and approvals are and will be maintained throughout the term of this Agreement.

3.7 Alterations to Improvements. The Public Improvements in Exhibit B are understood to be only a general designation of the work and improvements to be done, and not a binding description thereof. All work must be done and improvements made and completed as shown on approved plans and specifications and any subsequent alterations thereto. If during the course of construction and installation of the Public Improvements it is determined that the public interest requires alterations in the Public Improvements, Developer will undertake such design and construction changes as may be reasonably required by City. Any and all alterations in the plans and specifications and the Public Improvements to be completed may be accomplished without giving prior notice thereof to Developer’s surety for this Agreement.

3.8 Superintendence by Developer.
(A) Developer will require each contractor and subcontractor to have a competent foreperson on the job at all times when that contractor or subcontractor, or any employee or agent thereof, is performing work on the Public Improvements. Before starting work on the Public Improvements, each contractor and subcontractor must submit in writing the name of the proposed foreperson. Each foreperson must be present at the work site at all times that any work is in progress and at any time that any employee of the contractor or subcontractor is present at the work site. Should a contractor or subcontractor desire to change its foreperson, it must provide the information specified to City.
(B) Developer will, at all times, enforce strict discipline and good order among its employees and those of its subcontractors and will not employ any unfit person or anyone not skilled in the assigned task. If any person employed by a contractor or subcontractor fails or refuses to carry out the directions of City or appears to City, in its sole and absolute discretion, to be incompetent or to act in a disorderly or improper manner, such person must be removed from the project immediately upon request by City, and such person may not again be employed on the work. Such removal may not be the basis for any claim of compensation or damage against City. (C) In addition, Developer will maintain an office with a telephone, and Developer or a person authorized to make decisions and to act on Developer’s behalf in Developer’s absence will be available to be on the job within three hours of being called at such office by City, during the hours of 9:00 a.m. through 5:00 p.m., Monday through Friday, or any other 6 BBK: December 2022
day or time when work is being performed on the Public Improvements.

Developer will also provide City with a telephone number at which Developer, or its representative, will be available 24 hours a day in the event of an emergency.

4. Maintenance of Public Improvements and Landscaping.

4.1 City is not responsible or liable for the maintenance, condition, or care of the Public Improvements until City approves and accepts them. City will exercise no control over the Public Improvements until accepted.

4.2 Any use by any person of the Public Improvements, or any portion thereof, is at the sole and exclusive risk of Developer at all times prior to City’s acceptance of the Public Improvements.

4.3 Developer will maintain all the Public Improvements in a state of good repair until:
they are completed by Developer; approved and accepted by City; and the security for the performance of this Agreement is released.

4.4 Maintenance includes, but is not limited to,
(A) repair of pavement, curbs, gutters, sidewalks, signals, parkways, water mains, and sewers;
(B) maintaining all landscaping in a vigorous and thriving condition reasonably acceptable to City;
(C) removal of debris from sewers and storm drains; and (D) sweeping, repairing, and maintaining in good and safe condition all streets and street improvements.

4.5 Developer will cause the sweeping of streets to occur weekly at a minimum.

Developer will perform additional street sweeping work as necessary depending on construction activities or as required by, and at the direction of, the City Engineer.

4.6 It is Developer’s responsibility to initiate all maintenance work, but if it fails to do so, it will promptly perform such maintenance work when notified to do so by City.

4.7 If Developer fails to properly prosecute its maintenance obligation under this Agreement, City may do all work necessary for such maintenance and the cost thereof is the responsibility of Developer and its surety under this Agreement. City is not responsible or liable for any damages or injury of any nature in any way 7 BBK: December 2022
related to or caused by the Public Improvements or their condition prior to acceptance.

5. Construction Schedule.

5.1 Strict Timeline.
(A) Unless the time for performance is extended in accordance with this section of this Agreement, Developer will complete or have completed the Public Improvements in accordance with the schedule and timeline required by the conditions of approval to TRACT MAP NO. 19184.
(B) At least 15 days before commencing such work, Developer will notify the City Engineer in writing of the date fixed by Developer for commencement of the work.

5.2 Extensions.
(A) City may, in its sole and absolute discretion, provide Developer with additional time within which to complete the Public Improvements. (B) It is understood that by providing the security required under section 14 below, Developer and its surety consent in advance to any extension of time that may be given by City to Developer and each waive all right to notice of such extension.
(C) Developer’s acceptance of an extension of time granted by City constitutes a waiver by Developer and its surety of all defense of laches, estoppel, statutes of limitations, and other limitations of action in any action or proceeding filed by City following the date on which the Public Improvements were to have been completed hereunder.
(D) In addition, as consideration for granting such extension to Developer, City reserves the right to review the provisions of this Agreement, including, but not limited to, the construction standards, the cost estimates established by City, and the sufficiency of the improvement security provided by Developer, and to require adjustments thereto when warranted according to City’s reasonable discretion.

5.3 Accrual of Limitations Period. Any limitations period provided by law related to breach of this Agreement or the terms thereof does not accrue until Developer has provided the City Engineer with written notice of Developer’s intent to abandon or otherwise not complete required or agreed upon Public Improvements. 8 BBK: December 2022

6. Grading.

6.1 All grading done or to be done in conjunction with construction of the Public Improvements or development of TRACT MAP NO. 19184 must conform to all federal, state, and local laws, ordinances, regulations, and other requirements including, without limitation, City’s grading regulations, the National Pollutant Discharge Elimination Systems (NPDES), and stormwater regulations thereunder as administered by the State Water Resources Control Board and Regional Water Quality Control Boards.

6.2 In order to prevent damage to the Public Improvements by improper drainage or other hazards, the grading must be completed in accordance with the time schedule for completion of the Public Improvements established by this Agreement and prior to City’s approval and acceptance of the Public Improvements and release of the Security asset forth in section 14 below. For clarity, the indemnification obligations in section 17 below extend to and include all grading under this Agreement, including but not limited to, all partial and rough grading work.

7. Utilities. Developer will provide utility services, including water, power, gas, and telephone service to serve each parcel, lot, or unit of land within TRACT MAP NO. 19184 in accordance with all applicable federal, state, and local laws, rules, and regulations, including, but not limited to, the regulations, schedules and fees of the utilities or agencies providing such services. Except for commercial or industrial properties, Developer will also provide cable television facilities to serve each parcel, lot, or unit of land in accordance with all applicable federal, state, and local laws, rules, and regulations, including, but not limited to, the requirements of the cable company possessing a valid franchise with City to provide such service within City’s jurisdictional limits. All utilities must be installed underground, unless otherwise approved by the City Council or the Planning Commission of the City of Stanton, or by any other state or federal laws or regulations.

8. Fees and Charges. Developer will , at its sole cost, expense, and liability, pay all fees, charges, and taxes arising out of construction of the Public Improvements, including, but not limited to, all plan check, report review, engineering, inspection, testing, and other service fees, and any impact or connection fees established by City ordinance, resolution, regulation, or policy, or as established by City relative to TRACT MAP NO. 19184.

9. City Inspection of Public Improvements. Developer will, at its sole cost, expense, and liability, and at all times during construction of the Public Improvements, maintain reasonable and safe facilities and provide safe access for inspection by City of the Public Improvements and areas where construction of the Public Improvements is occurring or will occur.
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10. Default; Notice; Remedies.

10.1 Notice. If Developer neglects, refuses, or fails to fulfill or timely complete any obligation, term, or condition of this Agreement, or if City determines there is a violation of any federal, state, or local law, ordinance, regulation, code, standard, or other requirement, City may at any time thereafter declare Developer to be in default or violation of this Agreement and make written demand on Developer or its surety, or both, to immediately remedy the default or violation (“Notice”).

10.2 Commencement of Remedy. Developer will substantially commence the work required to remedy the default or violation within ten days of the Notice. If the default or violation constitutes an immediate threat to the public health, safety, or welfare, City may provide the Notice verbally, and Developer will substantially commence the required work within 24 hours thereof. Immediately upon City’s issuance of the Notice, Developer and its surety are liable to City for all costs of construction and installation of the Public Improvements and all other administrative costs expenses as provided for in section 11 below.

10.3 Failure to Remedy; City Action.
(A) If the work required to remedy the noticed default or violation is not diligently prosecuted to a completion acceptable to City within the time frame contained in the Notice, City may complete all remaining work, arrange for the completion of all remaining work, or conduct such remedial activity as in itssole and absolute discretion it believes is required to remedy the default or violation.
(B) All such work or remedial activity is at the sole and absolute cost, expense, and liability of Developer and its surety, without the necessity of giving any further notice to Developer or surety.
(C) City’s right to take such actions is in no way limited by the fact that Developer or its surety might have constructed any or none of the required or agreed upon Public Improvements at the time of City’s demand for performance.
(D) If City elects to complete or arrange for completion of the remaining work and improvements, City may require all work by Developer or its surety to cease in order to allow adequate coordination by City.

10.4 Other Remedies. No action taken by City under this section 10 prevents City from exercising any other right or pursuing any other legal or equitable remedy available to City under this Agreement or any federal, state, or local law. City may exercise 10 BBK: December 2022
its rights and remedies independently or cumulatively, and City may pursue inconsistent remedies. By way of example, City may institute an action for damages, injunctive relief, or specific performance.

11. Administrative Costs. If Developer fails to construct and install all or any part of the Public Improvements within the time required by this Agreement, or if Developer fails to comply with any other obligation contained herein, Developer and its surety are jointly and severally liable to City for all administrative expenses, fees, and costs, including reasonable attorney’s fees and costs, incurred in obtaining compliance with this Agreement or in processing any legal action or for any other remedies permitted by law.

12. Acceptance of Improvements; As-Built or Record Drawings.

12.1 Acceptance.
(A) If the Public Improvements are properly completed by Developer and approved by the City Engineer, and if they comply with all applicable federal, state and local laws, ordinances, regulations, codes, standards, and other requirements, the City Council may accept the Public Improvements. (B) Issuance by City of occupancy permits for any buildings or structures located on the Property does not constitute City acceptance or approval of any Public Improvement.
(C) The City Council may, in its sole and absolute discretion, accept fully completed portions of the Public Improvements before all of the Public Improvements are completed, but early acceptance of a fully completed portion does not release or modify Developer’s obligation to complete the remainder of the Public Improvements within the time required by this Agreement.
(D) Notwithstanding paragraph 12.1(C) above, if TRACT MAP NO. 19184 was approved and recorded as a single-phase map, City shall not accept any one or more of the improvements until all of the Public Improvements are completed by Developer and approved by City.
(E) Upon the total or partial acceptance of the Public Improvements by City, Developer will file with the Recorder’s Office of the County of Orange, a notice of completion for the accepted Public Improvements, at which time the accepted Public Improvements become the sole and exclusive property of City without payment therefor.

12.2 As-Built Drawings. Notwithstanding the foregoing, City may not accept any Public Improvement until Developer provides one set of “as-built” or record 11 BBK: December 2022
drawings or plans to the City Engineer for all such Public Improvements. The drawings must be certified and must reflect the condition of the Public Improvements as constructed, with all changes incorporated therein.

13. Reserved.

14. Security; Surety Bonds. Prior to execution of this Agreement, Developer will provide City with surety bonds in the amounts and under the terms set forth below (“Security”).

Developer may submit Security in a form other than bonds as allowed under California Government Code Section 66499 et seq. and Chapter 19 of the Stanton Municipal Code, which alternative Security may be accepted or rejected by the City Council in its sole and absolute discretion. The amount of the Security must be based on the City Engineer’s approximation of the actual cost to construct the Public Improvements, including the replacement cost for all landscaping (“Estimated Costs”). If City determines, in its sole and absolute discretion, that the Estimated Costs have changed, Developer will adjust the Security in the amount requested by City. Developer’s compliance with this section 14 in no way limits or modifies Developer’sindemnification obligations undersection 17 below.

14.1 Performance Bond. To guarantee the faithful performance of the Public Improvements and all the provisions of this Agreement, to protect City if Developer is in default as set forth in section 10 above, and to secure Developer’s one-year guarantee and warranty of the Public Improvements, including the maintenance of all landscaping in a vigorous and thriving condition, Developer will provide to City a faithful performance bond in the amount of $19,100.00, which sum may be not less than 100 percent of the Estimated Costs. The City Council may, in its sole and absolute discretion and upon recommendation of the City Engineer, partially release a portion or portions of the security provided under this section as the Public Improvements are accepted by City, as provided under section 14 above, provided that Developer is not in default on any provision of this Agreement or condition of approval for TRACT MAP NO. 19184, and the total remaining security is not less than 25 percent of the Estimated Costs. All security provided under this section will be released at the end of the Warranty period, or any extension thereof as provided in section 14.3 below, provided that Developer is not in default on any provision of this Agreement or condition of approval for TRACT MAP NO. 19184.

14.2 Labor and Material Bond. To secure payment to the contractors, subcontractors, laborers, material suppliers, and other persons furnishing labor, materials, or equipment for performance of the Public Improvements and this Agreement, Developer will provide City a labor and materials bond in the amount of $19,100.00, which sum may not be less than 100 percent of the Estimated Costs. The security provided under this section may be released by written authorization of the City 12 BBK: December 2022
Engineer after one year or within the time limits established in California Government Code section 66499.7 from the date that City accepts the final Public Improvements at the discretion of City. The amount of the security that is released must be reduced by the total of all stop notice or mechanic’s lien claims of which City is aware, plus an amount equal to 20 percent of such claims for reimbursement of City’s anticipated administrative and legal expenses arising out of such claims.

14.3 Guarantee and Warranty Bond.
(A) Developer hereby guarantees and warrants all Public Improvements against any defective work or labor done or defective materials furnished in the performance of this Agreement, including the maintenance of all public landscaping within the Property in a vigorous and thriving condition reasonably acceptable to City, for a period of one year following completion of the work and acceptance by City (“Warranty”). During the Warranty, Developer will repair, replace, or reconstruct any defective or otherwise unsatisfactory portion of the Public Improvements, in accordance with the current ordinances, resolutions, regulations, codes, standards, or other requirements of City, and to the approval of the City Engineer. All repairs, replacements, or reconstruction during the Warranty are at the sole cost, expense, and liability of Developer and its surety. As to any Public Improvement that is repaired, replaced, or reconstructed during the Warranty, Developer and its surety extend the Warranty for an additional one-year period following City’s acceptance of the repaired, replaced, or reconstructed Public Improvements. Nothing herein relieves Developer from any other liability that it might have under federal, state, or local law to repair, replace, or reconstruct any Public Improvement following expiration of the Warranty or any extension thereof. Developer’s warranty obligation under this Section survives the expiration or termination of this Agreement.
(B) Prior to execution of this Agreement, Developer will provide City with an irrevocable guarantee and warranty bond or cash deposit in the amount of $19,100.00, and warrant the Work, for a period of one year following its completion and acceptance, against any defective work or labor done or defective materials furnished, as required by California Government Code section 66499.3, subdivision (d). Any unused portion of the guarantee and warranty security will be released one year after acceptance of the required improvements by the City Council.

14.4 Additional Requirements. The surety for any surety bonds provided as Security must have a current A.M. Best’s rating of no less than A:VIII and be authorized to 13 BBK: December 2022
do business in the State of California and otherwise be satisfactory to City. As part of the obligation secured by the Security and in addition to the face amount of the Security, Developer or its surety will secure the costs and reasonable expenses and fees, including reasonable attorney’s fees and costs, incurred by City in enforcing the obligations of this Agreement. Developer and its surety must each stipulate and agree that no change, extension of time, alteration, or addition to the terms of this Agreement, the Public Improvements, or the plans and specifications for the Public Improvements in any way affects its obligation on the Security.

14.5 Evidence and Incorporation of Security. Evidence of the Security must be provided on the forms set forth in Exhibit C, unless other forms are deemed acceptable by the City Engineer and the City Attorney, and when such forms are completed to the satisfaction of City, the forms and evidence of the Security must be attached to Exhibit C. They are then incorporated herein by this reference.

15. Monument Security. Prior to City’s execution of this Agreement, to guarantee payment to the engineer or surveyor for the setting of all subdivision boundaries, lot corners, and street centerline monuments for TRACT MAP NO. 19184 in compliance with the applicable provisions of City’s Code (“Subdivision Monuments”), Developer will furnish to City a bond in the amount of $500.00 which sum may not be less than 100 percent of the costs of setting the Subdivision Monuments as determined by the City Engineer. Said bond may be released by written authorization of the City Engineer after all required Subdivision Monuments are accepted by the City Engineer and City has received written acknowledgment of payment in full from the engineer or surveyor who set the Subdivision Monuments, provided that Developer is not in default of any provision of this Agreement or condition of approval for TRACT MAP NO. 19184.

16. Lien. To secure the timely performance of Developer’s obligations under this Agreement, including those obligations for which security has been provided pursuant to sections 14 and 15 above, Developer hereby creates in favor of City a lien against all portions of the Property that are not dedicated to City or to some other governmental agency for a public purpose. As to Developer’s default on those obligations for which security has been provided pursuant to sections 14 and 15 above, City will first attempt to collect against such security prior to exercising its rights as a contract lienholder under this section.

17. Indemnification.

17.1 Developer will defend, indemnify, and hold harmless City, its elected officials, officers, employees, agents and volunteers from any and all actual or alleged claims, demands, causes of action, liability, loss, damage, or injury, to property or persons, including wrongful death, whether imposed by a court of law or by administrative action of any federal, state, or local governmental body or agency, arising out of or incident to any acts, omissions, negligence, or willful misconduct 14 BBK: December 2022
of Developer, its personnel, employees, agents, or contractors in connection with or arising out of construction or maintenance of the Public Improvements, or performance of this Agreement.

17.2 This indemnification includes, without limitation, the payment of all penalties, fines, judgments, awards, decrees, attorneys’ fees, and related costs or expenses, and the reimbursement of City, its elected officials, officers, employees, and agents for all legal expenses and costs incurred by each of them. This indemnification excludes only such portion of any claim, demand, cause of action, liability, loss, damage, penalty, fine, or injury, to property or persons, including wrongful death, that is caused solely and exclusively by the gross negligence or willful misconduct of City as determined by a court or administrative body of competent jurisdiction.

Developer’s obligation to indemnify survives the expiration or termination of this Agreement, and is not restricted to insurance proceeds, if any, that are received by Agency, its elected officials, officers, employees, agents or volunteers.

18. Insurance.

18.1 Types; Amounts. Developer will procure and maintain, and will require its contractors and subcontractors to procure and maintain, during construction of any Public Improvement under this Agreement, insurance of the types and in the amounts described below (“Required Insurance”), without limiting the indemnity provisions of this Agreement. If any of the Required Insurance contains a general aggregate limit, such insurance must apply separately to this Agreement or be no less than three times the specified occurrence limit. For purposes of this section 18, the “indemnified parties” mean City, its elected officials, officers, employees, agents and volunteers, as described in section 17 above. The Required Insurance must contain standard separation of insureds provisions. It must contain no special limitations on the scope of its protection to City, its elected officials, officers, employees, agents and volunteers.
(A) Commercial General Liability. Developer, its contractors and subcontractors must procure and maintain Commercial General Liability Insurance that affords coverage at least as broad as the latest version of Insurance Services Office “occurrence” form CG 0001, with minimum limits of at least $5,000,000 per occurrence, and if written with an aggregate, the aggregate must be double the per occurrence limit. Defense costs must be paid in addition to the limits. The policy must contain no endorsement or provision limiting coverage for (1) products and completed operations; (2) contractual liability; (3) third-party action over claims; (4) cross-liability exclusion for claims or suits by one insured against another; or (5) explosion, collapse or underground hazard (XCU). 15 BBK: December 2022
(B) Automobile Liability. Developer, its contractors and subcontractors must procure and maintain automobile liability insurance with coverage at least as broad as Insurance Services Office Form CA 0001 covering “Any Auto” (Symbol 1) with minimum limits of $1,000,000 each accident. Such insurance must include coverage for the ownership, operation, maintenance, use, loading, or unloading of any vehicle owned, leased, hired, or borrowed by the insured or for which the insured is responsible. If Developer does not own any company vehicles and if requested by City, this requirement may be satisfied by providing a non-owned auto endorsement to the Commercial General Liability policy.
(C) Workers’ Compensation. Developer, its contractors and subcontractors must procure and maintain workers’ compensation insurance with limits as required by the Labor Code of the State of California and Employers’ Liability Insurance of not less than $1,000,000 per accident for bodily injury and disease.
(D) Professional Liability. If applicable to this Agreement and required by City, for any consultant or other professional who will engineer or design the Public Improvements, professional liability insurance for errors and omissions with limits not less than $1,000,000 per occurrence must be procured and maintained for a period of three years following completion of the Public Improvements and must specifically include all work to be performed under the Agreement. If coverage is written on a claims-made basis, the retroactive date must precede the effective date of the initial Agreement and continuous coverage must be maintained or an extended reporting period will be exercised for a period of at least three years from termination of this Agreement.
(E) Contractors Pollution Liability.
(1) If applicable to this Agreement and required by City, Developer must procure Contractors Pollution Liability Insurance covering all of Developer’s operations to include onsite and offsite coverage for bodily injury (including death and mental anguish), property damage, defense costs and cleanup costs with minimum limits of $5,000,000 per loss and $10,000,000 total all losses. The policy must contain no endorsement or provision that limits contractual liability or coverage for cross-liability of claims or suits by one insured against another. Non-owned disposal site coverage must be 16 BBK: December 2022
provided if handling, storing or generating hazardous materials or any material or substance otherwise regulated under environmental laws or regulations.
(2) For projects involving transportation of hazardous waste or materials, the policy must include coverage for loading or unloading from the project site to final disposal locations, and all disposal locations must be scheduled as non-owned disposal sites. (3) If coverage is written on a claims-made basis, the retroactive date must precede the effective date of the initial Agreement and continuous coverage must be maintained or an extended reporting period will be exercised for a period of at least three years from termination or expiration of this Agreement.

18.2 Deductibles. Any deductible or self-insured retention must be approved by City in writing and must protect the indemnified parties in the same manner and to the same extent as they would have been protected had the policy or policies not contained a deductible or self-insured retention.

18.3 Certificates; Verification. Developer and its contractors and subcontractors must furnish City with original certificates of insurance and endorsements effecting coverage for the Required Insurance. The certificates and endorsements for each insurance policy must be signed by a person authorized by that insurer to bind coverage on its behalf. All certificates and endorsements must be received and approved by City prior to the execution of this Agreement and before work under this Agreement may begin. City reserves the right to require complete, certified copies of all required insurance policies, at any time.

18.4 Insurer Rating. Unless approved in writing by City, all Required Insurance must be placed with insurers with a current A.M. Best rating of at least A:VIII, who are authorized to do businessin the State of California, and who are satisfactory to City.

18.5 Endorsements.
(A) The policy or policies of insurance required by section 18.1(A) (Commercial General Liability), section 18.1(B) (Automobile Liability) and section 18.1(E) (Contractors Pollution Liability), if the latter is required by City, must include the following endorsements:
(1) Additional Insured: The indemnified parties must be additional insureds with regard to liability and defense of suits or claims arising out of the performance of this Agreement. The “Additional Insured 17 BBK: December 2022
Endorsement” must be on a form similar to Insurance Services Office’s Endorsement form CG 2010 and must contain no other modifications to the policy.
(2) Primary Insurance: This insurance must be primary, and any other insurance, deductible, or self-insurance that might be maintained by the indemnified parties does not contribute with this primary insurance.
(3) Severability: If any insured, whether named or additional, incurs liability to any other of the insureds, whether named or additional, the policy must cover the insured against whom claim is or may be made in the same manner as if separate policies had been issued to each insured, except that the limits of insurance are not increased thereby.
(4) Cancellation: The policy may not be canceled nor the coverage suspended, voided, reduced or allowed to expire until a 30-day prior written notice of cancellation has been served on City, except that 10-day prior written notice is allowed for non-payment of premium. (5) Duties: Coverage provided to the indemnified parties must not be affected by a failure by the named insured to comply with reporting provisions of the policy or by any breach or violation of a warranty. (6) Applicability: The coverage provided therein must apply to the obligations assumed by Developer, its contractors or subcontractors under the indemnity provisions of this Agreement, unless the policy or policies contain a blanket form of contractual liability coverage. (B) The policy or policies of insurance required by section 18.1(C) (Workers’ Compensation) must include the following endorsements:
(1) Waiver of Subrogation: A waiver of subrogation stating that the insurer waives all rights of subrogation against the indemnified parties.
(2) Cancellation: The policy may not be canceled or the coverage suspended, voided, reduced or allowed to expire until a 30-day prior written notice of cancellation has been served on City, except that 10-day prior written notice is allowed for non-payment of premium. (C) The policy or policies of insurance required by section 18.1(D) (Professional Liability), if required by City, must include the following 18 BBK: December 2022
endorsement: “Cancellation: The policy may not be canceled or the coverage suspended, voided, reduced or allowed to expire until a 30-day prior written notice of cancellation has been served on City, except that 10- day prior written notice is allowed for non-payment of premium.”

19. Signs and Advertising. Developer understands and agrees to City’s ordinances, regulations, and requirements governing signs and advertising structures. Developer hereby agrees with and consents to the removal by City of all signs or other advertising structures erected, placed, or situated in violation of any City ordinance, regulation, or other requirement. Removal is at the expense of Developer and its surety. Developer and its surety will indemnify and hold City free and harmless from any claim or demand arising out of or incident to signs, advertising structures, or their removal.

20. Relationship Between the Parties. The Parties hereby mutually agree that neither this Agreement, nor any map related to TRACT MAP NO. 19184, nor any other related entitlement, permit, or approval issued by City for the Property operates to create the relationship of partnership, joint venture, or agency between City and Developer.

Developer’s contractors and subcontractors are exclusively and solely under the control and dominion of Developer. Nothing herein makes Developer, its contractors or subcontractors an agent, contractor or subcontractor of City.

21. General Provisions.

21.1 Authority to Enter Agreement. Each Party warrants that the individual or individuals who have signed this Agreement on that Party’s behalf have the legal power, right, and authority make this Agreement and bind that Party. Each individual signing represents and warrants that that individual is duly authorized and has the legal power and right to make this Agreement on behalf of the Party for whom the individual signs.

21.2 Cooperation; Further Acts. The Parties will fully cooperate with one another and will take any additional act or sign any additional document as might be necessary, appropriate, or convenient to carry out the purposes of this Agreement. Nothing in this paragraph obligates City to exercise its discretion in any particular way.

21.3 Construction; References; Captions. It being agreed the Parties or their agents have participated in the preparation of this Agreement, the language of this Agreement must be construed simply, according to its fair meaning, and not strictly for or against any Party. Any term referencing time, days, or period for performance is deemed calendar days and not work days. All references to Developer include all personnel, employees, agents, and subcontractors of Developer, except as otherwise specified in this Agreement. All references to City include its elected officials, officers, employees, agents, and volunteers except as otherwise specified 19 BBK: December 2022
in this Agreement. The captions of the various articles and paragraphs are for convenience and ease of reference only, and do not define, limit, augment, or describe the scope, content, or intent of this Agreement.

21.4 Notices.
(A) All notices, demands, invoices, and written communications must be in writing and delivered to the following addresses or such other addresses as the Parties may designate by written notice:
(1) To City:

City of Stanton
7800 Katella Avenue
Stanton, CA 90680
Attn: City Engineer
(2) To Developer:

Vinh James Le and Mai Yen Le
406 14th Street
Huntington Beach, CA 92648
Attn: Vinh James Le
(B) Depending on the method of transmittal, notice is deemed received as follows:
(1) by facsimile, as of the date and time sent;
(2) by messenger, as of the date delivered; and
(3) by U.S. Mail first class postage prepaid, as of 72 hours after deposit in the U.S. Mail.
(C) The Parties are encouraged, but not required to, send a courtesy copy of any written notice, demand, invoice, or written communication by email to the other Party. Email communication does not satisfy the notice obligations above.

21.5 Amendment; Modification.
(A) No supplement, modification, or amendment of this Agreement is binding unless executed in writing and signed by both Parties.
20 BBK: December 2022
(B) The City Manager may, at the Manager’s sole and absolute discretion, agree to minor modifications to this Agreement on behalf of the City without City Council approval.

21.6 Waiver. City’s failure to insist on strict compliance with any provision of this Agreement or to exercise any right or privilege provided herein, or City’s waiver of any breach of this Agreement, does not relieve Developer of any of its obligations under this Agreement, whether of the same or similar type. The foregoing is true whether City’s actions are intentional or unintentional. Developer agrees to waive, as a defense, counterclaim or set off, any and all defects, irregularities or deficiencies in the authorization, execution or performance of the Public Improvements or this Agreement, as well as the laws, rules, regulations, ordinances or resolutions of City with regards to the authorization, execution or performance of the Public Improvements or this Agreement.

21.7 Assignment or Transfer of Agreement.
(A) Developer may not assign, hypothecate, or transfer, either directly or by operation of law, this Agreement or any interest herein without prior written consent of City, which City may grant or withhold at City’s sole and absolute discretion. Any attempt to do so is null and void, and any purported assignee, hypothecatee, or transferee acquires no right or interest by reason of such attempted assignment, hypothecation, or transfer. (B) Unless specifically stated to the contrary in City’s written consent, any assignment, hypothecation, or transfer does not release or discharge Developer from any duty or responsibility under this Agreement. (C) If City consents in writing to such an assignment, any assignee, hypothecatee or transferee must expressly assume Developer’s obligations hereunder by a written agreement in a form, and containing such security, as is reasonably acceptable to City.
(1) The agreement must be in a form that is satisfactory to the City Attorney and must include provisions requiring the assignee to post bonds or submit another form of financial security that is satisfactory to City and approved by the City Attorney, to guarantee construction of the Public Improvements.
(2) The agreement must survive the recordation of the Final Map and must be recorded against each of the proposed lots to inform successors and assigns of the required Public Improvements to be constructed and their time frame for construction. Following any 21 BBK: December 2022
permitted assignment of the Public Improvements as set forth in this section 21.7, City will release Developer from its obligations so assigned and will release to Developer any bond or other security posted to secure the Public Improvements so assigned; provided, however, that City will not release any security given to secure the performance of any of any Public Improvement that is not assigned.

21.8 Binding Effect. Each of the covenants and conditions in this Agreement binds and inures to the benefit of the Parties, and their successors, heirs, personal representatives, and assigns. This section does not authorize a Party to assign any right or obligation.

21.9 No Third-Party Beneficiaries. There is no intended third-party beneficiary of any right or obligation assumed by the Parties.

21.10 Invalidity; Severability. If any portion of this Agreement is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions continue in full force and effect.

21.11 Consent to Jurisdiction and Venue.
(A) This Agreement must be construed in accordance with and governed by the laws of the State of California.
(B) Any legal action or proceeding brought to interpret or enforce this Agreement, or which in any way arises out of the Parties’ activities undertaken under this Agreement, must be filed and prosecuted in the appropriate state court in the County of Orange, California. (C) Each Party waives the benefit of any provision of state or federal law providing for a change of venue to any other court or jurisdiction including, without limitation, a change of venue based on the fact that a governmental entity is a party to the action or proceeding, or that a federal right or question is involved or alleged to be involved in the action or proceeding. Without limiting the generality of the foregoing waiver, Developer expressly waives any right to have venue transferred pursuant to California Code of Civil Procedure Section 394.

21.12 Attorneys’ Fees and Costs.
(A) If any arbitration, lawsuit, or other legal action or proceeding is brought by one Party against the other Party in connection with this Agreement or the Property, the prevailing party, whether by final judgment or arbitration 22 BBK: December 2022
award, is entitled to and recover from the other party all costs and expenses incurred by the prevailing party, including actual attorneys’ fees (“Costs”). (B) Any judgment, order, or award entered in such legal action or proceeding must contain a specific provision providing for the recovery of Costs, which shall include, without limitation, attorneys’ and experts’ fees, costs and expenses incurred in the following:
(1) post judgment motions and appeals,
(2) contempt proceedings, garnishment, levy, and debtor and third-party examination,
(3) discovery, and
(4) bankruptcy litigation.
(C) This section 21.12 survives termination or expiration of this Agreement.

21.13 Counterparts. This Agreement may be executed in counterpart originals, which taken together, constitute one and the same instrument. 23 BBK: December 2022

SIGNATURES

CITY OF STANTON
By: By:

David J. Shawver , Mayor Vinh James Le
Print Name
Title
ATTEST:
(Seal)
By: By:

Patricia A. Vazquez, City Clerk Mai Yen Le
Print Name
Title
APPROVED AS TO FORM:

By:

HongDao Nguyen, City Attorney
Best Best & Krieger LLP
NOTE: Developer’s and Surety’s signatures must be duly notarized, and appropriate attestations must be included as required by the bylaws, articles of incorporation, or other rules or regulations applicable to Developer’s business entity.
 Guardian/Conservator
 Other:

Date Of Document
Signer is representing:

Name Of Person(s) Or Entity(ies)
Signer(s) Other Than Named Above
24 BBK: December 2022

ACKNOWLEDGMENT

STATE OF CALIFORNIA

COUNTY OF ORANGE
On , before me, ,
personally appeared ,
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

I certify under penalty of perjury under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature of Notary Public

OPTIONAL
Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document.

CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT  Individual
 Corporate Officer
Title(s) Title or Type of Document
 Partner(s)  Limited
 General
 Attorney-In-Fact Number Of Pages
 Trustee(s)
 Guardian/Conservator
 Other:

Date Of Document
Signer is representing:

Name Of Person(s) Or Entity(ies)
Signer(s) Other Than Named Above
25 BBK: December 2022

ACKNOWLEDGMENT

STATE OF CALIFORNIA

I certify under penalty of perjury under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature of Notary Public

EXHIBIT A

LEGAL DESCRIPTION OF PROPERTY
TRACT MAP NO. 19184
The West 60.0 feet of Lot 17 of Tract No. 591 in the City of Stanton, County of Orange, State of California, as per map recorded in Book 24 Page(s) 20 of Miscellaneous Maps in the office of the County Recorder of Orange County
APN: 126-282-14
Exhibit C BBK: December 2022

EXHIBIT B

LIST OF PUBLIC IMPROVEMENTS
TRACTMAP NO.[19184]
Developer must perform all work and furnish all materials necessary, in the opinion of the City Engineer and on his order, to complete the following Public Improvements in accordance with the plans and specifications on file with City or with any changes required or ordered by the City Engineer which, in his opinion, are necessary or required to complete this work.

Developer is required to perform the following Public Improvements under this Agreement:

1. Monument Installation

2. Off-site / Public Improvement Work, such as, restoration of public right-ofway including, but not limited to, concrete (sidewalks, curb & gutters, drive approach, etc.), asphalt (street restoration), landscaping and utilities.

Exhibit C BBK: December 2022

EXHIBIT C

SURETY BONDS AND OTHER SECURITY
TRACTMAP NO.[19184]
As evidence of understanding the provisions contained in this Agreement, and of Developer’s intent to comply with same, Developer has submitted the below described security in the amounts required by this Agreement, and has affixed the appropriate signatures thereto:

PERFORMANCE BOND PRINCIPAL AMOUNT: $
Surety:

Attorney-in-fact:

Address:

MATERIAL AND LABOR BOND PRINCIPAL AMOUNT: $
Surety:

Attorney-in-fact:

Address:

GUARANTEE AND WARRANTY SECURITY BOND: $
Surety:

Attorney-in-fact:

Address:

MONUMENT SECURITY BOND: $
Surety:

Attorney-in-fact:

Address:

Exhibit C BBK: December 2022
BOND NO.

INITIAL PREMIUM:

SUBJECT TO RENEWAL

CITYOFSTANTON

PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:

WHEREAS the City of Stanton, California (“City”) and
(“Principal”), have executed an agreement for
work consisting of, but not limited to, the furnishing all labor, materials, tools, equipment, services, and incidentals for all grading, roads, paving, curbs and gutters, pathways, storm drains, sanitary sewers, utilities, drainage facilities, traffic controls, landscaping, street lights, and all other required facilities for Tract Map No. [19184] (“Public Improvements”); WHEREAS, the Public Improvements to be performed by Principal are more particularly set forth in that certain Subdivision Improvement Agreement for Completion of Public Improvements dated , 20 , (“Improvement Agreement”);
WHEREAS, the Improvement Agreement is hereby referred to and incorporated herein by reference; and
WHEREAS, Principal is required by the Improvement Agreement to provide a good and sufficient bond for performance of the Improvement Agreement, and to guarantee and warranty the Public Improvements constructed thereunder.

NOW, THEREFORE, Principal and (“Surety”), a
corporation organized and existing under the laws of the State of , and duly authorized to transact business under the laws of the State of California, are held and firmly bound unto City in the sum of NINETEEN THOUSAND ONE-HUNDRED DOLLARS ($19,100.00), said sum being not less than one hundred percent (100%) of the total cost of the Public Improvements as set forth in the Improvement Agreement, we bind ourselves, our heirs, executors and administrators, successors and assigns, jointly and severally, firmly by these presents.

THE CONDITION OF THIS OBLIGATION is such, that if Principal, his or its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions, agreements, guarantees, and warranties in Exhibit C BBK: December 2022
the Improvement Agreement and any alteration thereof made as therein provided, to be kept and performed at the time and in the manner therein specified and in all respects according to their intent and meaning, and to indemnify and save harmless City, its officers, employees, and agents, as stipulated in the Improvement Agreement, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect.

As part of the obligation secured hereby, and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney’s fees, incurred by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered.

This bond is executed and filed to comply with Section 66499, et seq., of the Government Code of California and Chapter 19 of the Stanton Municipal Code as security for performance of the Improvement Agreement and security for the one-year guarantee and warranty of the Public Improvements.

IN WITNESS WHEREOF, the seal and signature of the Principal is hereto affixed, and the corporate seal and the name of the Surety is hereto affixed and attested by its duly authorized Attorney-in-Fact at , this day of , 20 .

Principal Surety
By: By:

President Attorney-in-Fact
Print Name Print Name
[ADD ADDITIONAL SIGNATURES IF NECESSARY]
Exhibit C BBK: December 2022
APPROVED AS TO FORM:

By:

Best Best & Krieger LLP
City Attorney
NOTE: APPROPRIATE NOTARIAL ACKNOWLEDGMENTS OF EXECUTION

BY PRINCIPAL AND SURETY, AND A COPY OF THE POWER OF

ATTORNEY TO LOCAL REPRESENTATIVES OF THE BONDING
COMPANY MUST BE ATTACHED TO THIS BOND.

Exhibit C BBK: December 2022

CERTIFICATE ASTOCORPORATEPRINCIPAL
I, , certify that I am the Secretary of the corporation named as Principal to the within bond; that , who
signed the said bond on behalf of the Principal was then of said corporation; that I know his/her signature, and his/her signature thereto is genuine; and that said bond was duly signed, sealed and attested for and in behalf of said corporation by authority of its governing board. (Corporate Seal)
Signature
Date
NOTE: A copy of the Power of Attorney to local representatives of the bonding company must be attached hereto if a local representative signs.

Exhibit C BBK: December 2022
BOND NO.

INITIAL PREMIUM:

SUBJECT TO RENEWAL

CITYOFSTANTON

LABOR AND MATERIALBOND
KNOW ALL MEN BY THESE PRESENTS:

WHEREAS the City of Stanton, California (“City”) and
(“Principal”), have executed an agreement for
work consisting of, but not limited to, the furnishing all labor, materials, tools, equipment, services, and incidentals for all grading, roads, paving, curbs and gutters, pathways, storm drains, sanitary sewers, utilities, drainage facilities, traffic controls, landscaping, street lights, and all other required facilities for Tract Map No. [19184] (“Public Improvements”); WHEREAS, the Public Improvements to be performed by Principal are more particularly set forth in that certain Agreement for Completion of Public Improvements dated , 20 (“Improvement Agreement”);
WHEREAS, the Improvement Agreement is hereby referred to and incorporated herein by reference; and
WHEREAS, Principal is required to furnish a bond in connection with the Improvement Agreement providing that if Principal or any of itssubcontractors shall fail to pay for any materials, provisions, or other supplies, or terms used in, upon, for, or about the performance of the Public Improvements, or for any work or labor done thereon of any kind, or for amounts due under the provisions of Title 3 (commencing with section 9000) of Part 6 of Division 4 of the California Civil Code, with respect to such work or labor, that the Surety on this bond will pay the same together with a reasonable attorney’s fee in case suit is brought on the bond.

NOW, THEREFORE, Principal and (“Surety”), a
corporation organized and existing under the laws of the State of , and duly authorized to transact business under the laws of the State of California, are held and firmly bound unto City and to any and all material men, persons, companies or corporations furnishing materials, provisions, and other supplies used in, upon, for or about the performance of the Public Improvements, and all persons, companies or corporations renting or hiring teams, or implements or machinery, for or contributing to the Public Improvements to be done, and all persons performing work or labor upon the same and all persons supplying both work and materials as Exhibit C BBK: December 2022
aforesaid excepting the Principal, the sum of NINETEEN THOUSAND ONE-HUNDRED DOLLARS ($19,100.00), said sum being not less than 100% of the total cost of the Public Improvements under the terms of the Improvement Agreement, we bind ourselves, our heirs, executors and administrators, successors and assigns jointly and severally, firmly by these presents.

THE CONDITION OF THIS OBLIGATION IS SUCH that if the Principal, his or its subcontractors, heirs, executors, administrators, successors, or assigns, shall fail to pay for any materials, provisions, or other supplies or machinery used in, upon, for or about the performance of the Public Improvements, or for work or labor thereon of any kind, or fail to pay any of the persons named in California Civil Code Section 9100, or amounts due under the Unemployment Insurance Code with respect to work or labor performed by any such claimant, or for any amounts required to be deducted, withheld, and paid over to the Employment Development Department from the wages of employees of the contractor and his subcontractors pursuant to Section 13020 of the Unemployment Insurance Code with respect to such work and labor, and all other applicable laws of the State of California and rules and regulations of its agencies, then said Surety will pay the same in or to an amount not exceeding the sum specified herein.

This bond is executed and filed to comply with Section 66499, et seq., of the California Government Code and Chapter 19 of the Stanton Municipal Code as security for payment to contractors, subcontractors, and persons furnishing labor, materials, or equipment for construction of the Public Improvements or performance of the Improvement Agreement. It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 3 (commencing with section 9000) of Part 6 of Division 4 of the California Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond.

Surety, for value received, hereby stipulates and agrees that no change, extension of time, alteration, or addition to the terms of the Improvement Agreement, or to any plans, profiles, and specifications related thereto, or to the Public Improvements to be constructed thereunder, shall in any way affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration, or addition.
(Signatures on following page)
Exhibit C BBK: December 2022
IN WITNESS WHEREOF, the seal and signature of the Principal is hereto affixed, and the corporate seal and the name of the Surety is hereto affixed and attested by its duly authorized Attorney-in-Fact at , this day of , 20 .

Principal Surety
By: By:

President Attorney-in-Fact
Print Name Print Name
[ADD ADDITIONAL SIGNATURES IF NECESSARY]
APPROVED AS TO FORM:

By:

Best Best & Krieger LLP
City Attorney
NOTE: APPROPRIATE NOTARIAL ACKNOWLEDGMENTS OF EXECUTION

BY PRINCIPAL AND SURETY, AND A COPY OF THE POWER OF

ATTORNEY TO LOCAL REPRESENTATIVES OF THE BONDING
COMPANY MUST BE ATTACHED TO THIS BOND.

Exhibit C BBK: December 2022

CERTIFICATE ASTOCORPORATEPRINCIPAL
I, , certify that I am the Secretary of the corporation named as Principal to the within bond; that , who signed
the said bond on behalf of the Principal was then of said corporation; that I know his/her signature, and his/her signature thereto is genuine; and that said bond was duly signed, sealed and attested for and in behalf of said corporation by authority of its governing board. (Corporate Seal)
Signature
Date
NOTE: A copy of the Power of Attorney to local representatives of the bonding company must be attached hereto of a local representative signs.

Exhibit C BBK: December 2022
BOND NO.

INITIAL PREMIUM:

SUBJECT TO RENEWAL

CITYOFSTANTON

SUBDIVISION MAINTENANCE BOND

GUARANTEEANDWARRANTYSECURITY
KNOW ALL MEN BY THESE PRESENTS:

WHEREAS, the conditions placed on the tentative tract map for TRACT MAP NO. [19184] require that the City Council of the City of Stanton, State of California, and (“Principal”) enter into an agreement by which Principal agrees to install and complete certain designated public improvements and to guarantee and warrant the work for a period of one year following its completion and acceptance (“Agreement”); and
WHEREAS, Principal is required under the terms of the Agreement to furnish a bond to guarantee and warrant the work for a period of one year following its completion and acceptance against any defective work or labor done, or defective materials furnished, to comply with the terms of the Agreement.

NOW, THEREFORE, we, Principal and
a , admitted and duly authorized to
transact business under the laws of the State of California as surety (“Surety”), are held and firmly bound unto the City of Stanton as obligee (“City”), in the penal sum NINETEEN THOUSAND ONE-HUNDRED ($19,100.00) dollars lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally, firmly by these presents.

The condition of this obligation is such that if Principal, his or its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, provisions in the said agreement and any alteration thereof made as therein provided, on his or its part to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless City, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect.

Exhibit C BBK: December 2022
As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorneys’ fees, incurred by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered.

Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the agreement or to the work to be performed thereunder or the specifications accompanying the same shall in anywise affect its obligations of this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the agreement or to the work or to the specifications. The surety waives all rights of subrogation against City or any person employed by City.

Principal Surety
By: By:

President Attorney-in-Fact
Print Name Print Name
[ADD ADDITIONAL SIGNATURES IF NECESSARY]
APPROVED AS TO FORM:

By:

Best Best & Krieger LLP
City Attorney
NOTE: APPROPRIATE NOTARIAL ACKNOWLEDGMENTS OF EXECUTION

BY PRINCIPAL AND SURETY, AND A COPY OF THE POWER OF

ATTORNEY TO LOCAL REPRESENTATIVES OF THE BONDING
COMPANY MUST BE ATTACHED TO THIS BOND.

Exhibit C BBK: December 2022

CERTIFICATE ASTOCORPORATEPRINCIPAL
I, , certify that I am the Secretary of the corporation named as Principal to the within bond; that , who signed
the said bond on behalf of the Principal was then of said corporation; that I know his/her signature, and his/her signature thereto is genuine; and that said bond was duly signed, sealed and attested for and in behalf of said corporation by authority of its governing board. (Corporate Seal)
Signature
Date
NOTE: A copy of the Power of Attorney to local representatives of the bonding company must be attached hereto if a local representative signs.

Exhibit C BBK: December 2022
BOND NO.

INITIAL PREMIUM:

SUBJECT TO RENEWAL

CITYOFSTANTON

MONUMENT SECURITY
KNOW ALL MEN BY THESE PRESENTS:

NOW, THEREFORE, we, Principal and
(“Surety”), a corporation organized and existing under the laws of the State of , admitted and duly authorized to transact business under the laws of the State of California as surety, are held and firmly bound unto City, in the sum of FIVE HUNDRED DOLLARS ($500.00), for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally, firmly by these presents.

THE CONDITION OF THIS OBLIGATION is such that if the Principal, its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the installation of monuments pursuant to the Agreement and any alteration thereof made as therein provided, on their part, to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and Exhibit C BBK: December 2022
shall indemnify and save harmless City, its elected officials, officers, employees, agents and volunteers, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect.

As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorneys’ fees, incurred by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered.

Surety, for value received, hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Improvement Agreement, or to any plans, profiles or specifications related thereto, or to the Public Improvements to be constructed thereunder, shall in any way affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition.

Principal Surety
By: By:

President Attorney-in-Fact
Print Name Print Name
APPROVED AS TO FORM:

By:

Best Best & Krieger LLP
City Attorney
NOTE: APPROPRIATE NOTARIAL ACKNOWLEDGMENTS OF EXECUTION

BY PRINCIPAL AND SURETY, AND A COPY OF THE POWER OF

ATTORNEY TO LOCAL REPRESENTATIVES OF THE BONDING
COMPANY MUST BE ATTACHED TO THIS BOND.

Exhibit C BBK: December 2022

CERTIFICATE ASTOCORPORATEPRINCIPAL
I, , certify that I am the Secretary of the corporation named as Principal to the within bond; that , who signed
the said bond on behalf of the Principal was then of said corporation; that I know his/her signature, and his/her signature thereto is genuine; and that said bond was duly signed, sealed and attested for and in behalf of said corporation by authority of its governing board. (Corporate Seal)
Signature
Date
NOTE: A copy of the Power of Attorney to local representatives of the bonding company must be attached hereto if a local representative signs. 1 CITY OF STANTON

REPORT TO CITY COUNCIL
TO: Honorable Mayor and Members of the City Council
DATE: August 12, 2025
SUBJECT: ACCEPTANCE OF THE FISCAL YEAR (FY) 2023/24 CITYWIDE STREET RESURFACING PROJECT (TASK CODE NO. 2023-201) BY THE CITY

COUNCIL OF THE CITY OF STANTON, CALIFORNIA
REPORT IN BRIEF:

The FY 2023/24 Citywide Street Resurfacing Project consisting of the demolition and removals, roadway modifications, concrete work (ramps, sidewalk, curb and gutters), asphalt pavement, signing and striping, and all appurtenant work for various streets throughout the City of Stanton is now complete. The City Engineer, in his judgment, certifies that the work was satisfactorily completed as of July 24, 2025, and recommends that the City Council accept the completed work performed on this project.

RECOMMENDED ACTION:

3. Accept the final construction contract amount of $1,254,963.37 with R.J. Noble Company; and

4. Direct the City Clerk within ten (10) days from the date of acceptance to file the Notice of Completion (Attachment) with the County Clerk-Recorder of the County of Orange; and

5. Direct City staff, after thirty-five (35) days has elapsed from the filing of the “Notice of Completion” with the County Clerk-Recorder, to make the retention payment to R.J.

Noble Company in the amount of $62,748.17.

Item: 9H
Click here to return to the agenda.
2 BACKGROUND:

On September 10, 2024, the City Council authorized staff to advertise this project for construction and approved the draft plans and specifications.

This Project consists of demolition and removals, clearing and grubbing, roadway modifications, concrete work (sidewalks, ramps, curb and gutters), asphalt pavement, signing and striping on the following streets:
• Fern Avenue (Cerritos to Pacific)
• Sylvan Street (Cerritos to End)
• Banff Street (Chanticleer to End) – Cul-de-Sac
• Monroe Avenue (Oak to Flower)
• Flower Avenue (Monroe to Katella)
• Ramblewood Drive (Grandoaks to End)
• Longford Way (Knott to End)
• Lambert Way (Longford to Hampton)
• Santa Maria Street (Ruthann to End) – Cul-de-Sac
• Mario Lane (Ruthann to End) – Cul-de-Sac
• Ale Lane (Ruthann to End) – Cul-de-Sac
• Grant Way (Marshall to Custer)
• Santa Maria Street (Lessue to End) – Cul-de-Sac
• Santa Cruz Street (Lessue to End) – Cul-de-Sac
• Ale Lane (Lessue to End) – Cul-de-Sac
• Capistrano Drive (Briarwood to Malibu)
• Cardiff Drive (Westcliff to San Marcos)
• San Marcos Drive (Cardiff to Lampson)
On March 11, 2025, R.J. Noble Company was awarded the construction contract for this project as the lowest, responsive bidder in the amount of $1,224,741.77 and the City Council authorized the City Manager to approve contract change orders up to $122,474 (10% of the original contract amount for contingencies).

ANALYSIS/JUSTIFICATION:

During construction, staff removed a portion of Monroe Avenue/Flower Avenue (approximately 150’ east of the centerline of Rose Street to Flower Avenue) from the scope of work for this project. The decision to remove this portion of work from the FY 2023/24 Citywide Street Resurfacing Project was made due to the existing drainage concerns in this area. To provide comprehensive rehabilitation/restoration of this section, Monroe Avenue will instead be included in a future project that will incorporate appropriate drainage solutions and necessary concrete improvements. 3 A change order was issued in the total amount of $30,221.60, an increase of 2.5 percent of the contract amount, for minor quantity discrepancies between bid quantities and actual construction amounts.

The total construction cost for this project was $1,254,963.37.

The FY 2023/24 Citywide Street Resurfacing Project has been completed in conformance with the project plans and specifications and has been accepted by the City Engineer.

FISCAL IMPACT:

The Amended FY 2024/2025 Capital Improvement Program budget included $1,409,083 for the FY 2023/24 Citywide Street Resurfacing Project (Task Code No. 2024-101).

Including retentions, the total amount paid to R.J. Noble Company for construction is $1,254,963.37.

ENVIRONMENTAL IMPACT:

This project is exempt under the California Environmental Quality Act (“CEQA”), Class 1, Section 15301(c) as repair, maintenance, and minor alteration of existing streets, sidewalks, gutters, and similar facilities.

LEGAL REVIEW:

None.

STRATEGIC GOAL:

Goal 3. Provide quality infrastructure.

PUBLIC NOTIFICATION:

Notifications were performed through the normal agenda process.

Prepared by: Han Sol Yoo, P.E., Civil Engineer
Reviewed by: Cesar Rangel, P.E., Director of Public Works/City Engineer Fiscal Impact Reviewed by: Sharon del Rosario, Finance Director Approved by: Hannah Shin-Heydorn, City Manager
ATTACHMENT:

A. Notice of Completion
Recording requested by and
when recorded mail to:

CITY OF STANTON
7800 KATELLA AVE.

STANTON, CA 90680

EXEMPT FROM RECORDING FEES PER
GOVERNMENT CODE SECTION 27383

NOTICE OF COMPLETION
Notice pursuant to Civil Code Section 3093, must be filed within 10 days after completion.

Notice is hereby given that:

1. The undersigned is owner or corporate officer of the owner of the interest or estate stated below in the property hereinafter described:

2. The full name of the owner is the City of Stanton.

3. The full address of owner is 7800 Katella Avenue, Stanton, CA 90680.

4. The nature of the interest or estate of the owner is: Public Right of Way.

5. A work of improvement on the property hereinafter described was completed on July 24, 2025. The work was the FY 2023/24 Citywide Street Resurfacing Project.

6. The name of the contractor for such work of improvement was: R.J. Noble Company.

7. The property on which said work of improvement was completed is in the City of: Stanton, County of Orange, and State of California.

Dated:______________________ ___________________________________, City of Stanton Verification for Individual Owner Cesar Rangel, City Engineer

VERIFICATION
I, the undersigned, say: I am the City Engineer of the City of Stanton, the declarant of the foregoing Notice of Completion; I have read said Notice of Completion and know the contents thereof; the same is true of my own knowledge. I declare under penalty of perjury that the foregoing is true and correct.

Executed on _______________________________, 2025, at Stanton, California. _________________________________________, City of Stanton Cesar Rangel, City Engineer
(Space above this line for Recorder’s use)
Attachment: A
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1 CITY OF STANTON

REPORT TO CITY COUNCIL
TO: Honorable Mayor and Members of the City Council
DATE: August 12, 2025
SUBJECT: ACCEPTANCE OF THE CITYWIDE STREET SIGN REPLACEMENT PROJECT (PHASE 1) (TASK CODE NO. 2022-102)
REPORT IN BRIEF:

The Citywide Street Sign Replacement Project (Phase 1) consisting of the replacement of City street name signs on principal and collector streets and signalized intersections is now complete. The City Engineer, in his judgment, certifies that the work was satisfactorily completed as of July 28, 2025, and recommends that the City Council accept the completed work performed on this project.

RECOMMENDED ACTION:

1. City Council declare this project categorically exempt under the California Environmental Quality Act, Class 2, Section 15302; and

3. Accept the final construction contract amount of $199,455.00 with Superior Pavement Markings, Inc.; and

4. Direct the City Clerk within ten (10) days from the date of acceptance to file the Notice of Completion (Attachment) with the County Clerk-Recorder of the County of Orange; and

Item: 9I
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2 BACKGROUND:

On January 28, 2025, the City Council authorized staff to advertise this project for construction and approved the draft plans and specifications.

The Project consisted of replacing the damaged street name signs on principal and collector streets and signalized intersections. The new guide signs replaced the outdated City signs to provide directions for residents and passing drivers throughout the City. The new signs also incorporated the most current components of the City’s recent branding efforts.

On April 8, 2025, Superior Pavement Markings, Inc. was awarded the contract for the project in the amount of $198,555.00, and the City Council authorized the City Manager to approve contract change orders up to $19,856.00 (10% of the original contract amount for contingencies).

ANALYSIS/JUSTIFICATION:

A change order was issued for this project for the amount of $900.00, an increase of 0.4 percent of the original contract amount, to replace three additional signs around the City.

The total construction cost for this project was $199,455.00.

The Citywide Street Sign Replacement Project (Phase 1) has been completed in conformance with the project plans and specifications and has been accepted by the City Engineer.

FISCAL IMPACT:

The Amended Fiscal Year 2024/2025 Capital Improvement Project Budget includes $644,350 for this project (Task Code No. 2022-102). After change orders, the total outstanding payment to Superior Pavement Markings for construction is $199,455.00.

ENVIRONMENTAL IMPACT:

The project has been determined to be categorically exempt under the California Environmental Quality Act (CEQA), Class 2, Section 15302 as replacement of existing structures and facilities.

LEGAL REVIEW:

None.

STRATEGIC GOAL:

Goal 3. Provide quality infrastructure.
3 PUBLIC NOTIFICATION:

Notifications were performed through the normal agenda process.

A. Notice of Completion
Recording requested by and
when recorded mail to:

CITY OF STANTON
7800 KATELLA AVE.

STANTON, CA 90680

EXEMPT FROM RECORDING FEES PER
GOVERNMENT CODE SECTION 27383

NOTICE OF COMPLETION
Notice pursuant to Civil Code Section 3093, must be filed within 10 days after completion.

Notice is hereby given that:

1. The undersigned is owner or corporate officer of the owner of the interest or estate stated below in the property hereinafter described:

2. The full name of the owner is the City of Stanton.

3. The full address of owner is 7800 Katella Avenue, Stanton, CA 90680.

4. The nature of the interest or estate of the owner is: Public Facility.

5. A work of improvement on the property hereinafter described was completed on July 28, 2025. The work was the Citywide Street Sign Replacement Project (Phase 1).

6. The name of the contractor for such work of improvement was: Superior Pavement Markings, Inc.

7. The property on which said work of improvement was completed is in the City of: Stanton, County of Orange, and State of California.

Dated:______________________ ___________________________________, City of Stanton Verification for Individual Owner Cesar Rangel, City Engineer

REPORT TO CITY COUNCIL
TO: Honorable Mayor and Members of the City Council
DATE: August 12, 2025
SUBJECT: APPROVAL OF UPDATED DELEGATED MAINTENANCE AGREEMENT

WITH THE STATE OF CALIFORNIA THROUGH THE DEPARTMENT OF

TRANSPORTATION
REPORT IN BRIEF:

The Delegated Maintenance Agreement (DMA) of Beach Boulevard (State Route 39) from North to South City Limits between the City and the State of California through the California Department of Transportation (Caltrans) has been updated. The agreement covers maintenance services provided by the City within the State right-of-way and increases the maximum annual reimbursement to the City.

RECOMMENDED ACTION:

1. City Council declare that this action is not a project per the California Environmental Quality Act; and

2. Accept the Delegated Maintenance Agreement between the City and the State of California, through the Department of Transportation (Caltrans); and

3. Authorize the City Manager to execute said Agreement.

BACKGROUND:

The City has had in effect a DMA with Caltrans since 1969 for Beach Boulevard (State Route 39) from North to South City Limits of approximately 2.88 miles. Most recently in 2001, the agreement was updated to allow the City to perform specific maintenance functions (e.g., patrol, street sweeping, debris/litter pickup, spills cleanup, graffiti removal and miscellaneous items) within the State’s right-of-way and receive reimbursement for such activities in an amount up to $15,000 annually.

Item: 9J
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2 ANALYSIS/JUSTIFICATION:

Recently, the City requested to increase the maximum annual reimbursement amount, which triggered an update to the DMA to continue with the prior delegations and add the following:
• Caltrans shall remove Persons Experiencing Homelessness (PEH) and any structures, personal property, debris, and/or other items related to the encampment.
• The City shall engage in weed abatement operations.
• Caltrans shall increase maximum annual authorized expenditures from $15,000 to $25,000, to reflect actual maintenance cost increases.

FISCAL IMPACT:

The Department of Transportation (Caltrans) will increase allowable reimbursement from $15,000 to a maximum of $25,000 per year.

ENVIRONMENTAL IMPACT:

This action is not a project per the California Environmental Quality Act.

LEGAL REVIEW:

The City Attorney has reviewed the Agreement.

PUBLIC NOTIFICATION:

Notifications were performed as prescribed by law.

STRATEGIC GOALS:

Goal 3. Provide quality infrastructure.

Goal 4. Ensure fiscal stability.

Prepared by: Cesar Rangel, P.E., Director of Public Works / City Engineer Fiscal Impact Reviewed by: Sharon del Rosario, Finance Director Approved by: Hannah Shin-Heydorn, City Manager
ATTACHMENT:

A. Updated Delegated Maintenance Agreement
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1 DELEGATED MAINTENANCE AGREEMENT

WITH THE CITY OF STANTON
This DELEGATED MAINTENANCE AGREEMENT (“AGREEMENT”) is made by and between the State of California, acting by and through the Department of Transportation (“STATE”) and the CITY of STANTON (“LOCAL AGENCY”); each may be referred to individually as a “PARTY” and jointly as “PARTIES.”

RECITALS

1. This AGREEMENT will identify the specific maintenance functions LOCAL AGENCY will perform in the STATE right of way, including highway and freeway areas situated within LOCAL AGENCY’s jurisdictional limits as authorized under Streets and Highways Code Section 130.

2. The PARTIES executed a prior Delegated Maintenance Agreement dated November 05, 2001. This AGREEMENT supersedes the prior Delegated Maintenance Agreement. The prior Delegated Maintenance Agreement will not remain in full force and effect. This AGREEMENT does not supersede other Freeway Maintenance Agreements executed by the PARTIES, if any.

OPERATIVE PROVISIONS

1. Maintenance Services. LOCAL AGENCY shall perform maintenance operations at the State Route(s) (SR), post miles (PM) and approximate mile lengths (STATE Right of Way) set forth in Exhibit A to keep the facilities in a safe and operational condition. Maintenance Operations include but are not limited to litter, debris, and graffiti removal, repairs, and restoration.

2. Prior Delegated Maintenance Agreements. This AGREEMENT supersedes the PARTIES’ prior Delegated Maintenance Agreement(s) dated November 05, 2001. The prior Delegated Maintenance Agreement(s) will not remain in full force and effect. This AGREEMENT does not supersede other Freeway Maintenance Agreements executed by the PARTIES, if any.

3. Maintenance Standards. LOCAL AGENCY shall perform all maintenance in compliance with the standards set forth in Streets and Highways Code Section 27, and in accordance with California and federal laws and Attachment: A
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2 regulations and STATE policies, procedures and specifications in effect and as amended, and applicable municipal ordinances.

4. Maintenance Areas and Services. LOCAL AGENCY shall only perform those maintenance services in the STATE right of way locations described in Exhibit A.

5. Amendment to Agreement. Changes to LOCAL AGENCY’s maintenance services covered in this AGREEMENT may be made by each PARTY executing amended Exhibits A and/or executing additional pages to Exhibits A and B that shall be attached to this AGREEMENT and will supersede the original Exhibits A and B. Otherwise, this AGREEMENT may only be amended by a written agreement executed by both PARTIES. STATE’s District Maintenance Agreement Coordinator (DMAC) must obtain prior written approval of any amendments from the District 12 Deputy Director of Maintenance before such amendments may become effective and enforceable under this AGREEMENT.

6. Unsheltered Encampment Removal.

A. STATE shall remove Persons Experiencing Homelessness (PEH) and any structures, personal property, debris, and/or other items related to the encampment from the Location(s) shown in Exhibit A, subject to STATE’s Encampment Removal policy, MPD 1001 R1 and applicable State and Federal law.

B. Nothing in this Agreement grants or waives the right of California Highway Patrol (CHP) and other law enforcement agencies having jurisdiction over the Locations shown in Exhibit A

7. Weed Abatement. LOCAL AGENCY shall engage in weed abatement operations.

LOCAL AGENCY shall control weeds at a level acceptable to STATE. Any weed control performed by chemical weed sprays (herbicides)shall comply with all laws, rules, and regulations established by California Department of Food and Agriculture. All chemical spray operations shall be reported quarterly (form LA17) to STATE via the STATE’s Landscape Specialist, Maintenance Support, Caltrans District Office 1750 E 4th Street Suite 100 Santa Ana CA, 92705

8. Graffiti Removal. LOCAL AGENCY’s graffiti removal shall be limited to removal of text only in accordance with Streets and Highway Code Section 96.

Any graffiti that in any way resembles a mural, artwork, paintings, or other similar elements may not be removed. LOCAL AGENCY shall discuss such possible art with STATE’s District 12 Transportation Art Rev. 02/2025
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3 Coordinator before conducting any graffiti removal or remediation. STATE shall pay the actual cost of LOCAL AGENCY’s graffiti removal as specified in Section 11 of this AGREEMENT.

9. Maintenance Service Schedule. LOCAL AGENCY shall provide STATE’s District 12 Area Maintenance Superintendent shown on Exhibit C, at least twenty-four (24) hours prior telephone or email notice before performing any maintenance services under this AGREEMENT. His/Her email and phone number are provided on Exhibit C. LOCAL AGENCY shall provide the DMAC identified in this AGREEMENT with a litter, debris and graffiti removal schedule. Maintenance services shall be provided at a minimum monthly basis. Maintenance services shall be performed between the hours of
9:00 a.m. and 3:00 p.m. or as otherwise authorized by the State Representative, if necessary. LOCAL AGENCY must request through the DMAC prior written approval from STATE’s District Maintenance Supervisor to perform any maintenance services before 9:00 a.m. or after 3:00 p.m. and/or weekends and holidays.

10. Authorized Reimbursement. The functions and levels of maintenance services delegated to LOCAL AGENCY in the attached Exhibits A and B and amounts appropriated to STATE have been considered in setting authorized total dollar amounts. LOCAL AGENCY may perform additional work if desired, but STATE will not reimburse LOCAL AGENCY for any work in excess of the authorized dollar limits established herein.

11. Cost Reimbursement. STATE shall reimburse LOCAL AGENCY for LOCAL AGENCY’s actual and necessary costs incurred to perform the maintenance services under this AGREEMENT; provided, however, that STATE’s reimbursement shall not exceed the maximum authorized expenditures under this AGREEMENT.

12. Amendment to Approved Expenditures. Upon LOCAL AGENCY’s written request, the expenditures per route for maintenance services set forth in Exhibits A and B may be increased, decreased, or redistributed between routes pursuant to the PARTIES executing an appropriate amendment in accordance with section 5 above. All such adjustments must be authorized in writing by the District Director or his/her authorized representative.

13. Term of Expenditures. Additional expenditures or an adjustment of expenditures once authorized shall apply only for the term of this Rev. 02/2025
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4 AGREEMENT and shall not be deemed to permanently modify or change the basic maximum expenditures per route as specified in Exhibits A and B. Any expenditure adjustments shall not affect or alter any other terms of this AGREEMENT.

14. Billing, Payment and Reporting.

14.1 Billing Date. LOCAL AGENCY shall submit billing invoices to STATE’s DMAC each quarter beginning after the first (month/quarter) LOCAL AGENCY has performed maintenance services under this AGREEMENT. LOCAL AGENCY shall not submit billing invoices for reimbursement of costs less than $500 more than once each quarter. LOCAL AGENCY shall also submit billing invoices promptly following the close of STATE’s fiscal year on each June 30th.

14. 2 Billing Submission Format. Each billing invoice shall include all of the following:
(a)STATE’s AGREEMENT number;
(b)Date(s) of services;
(c)Location of services;
(d)Number of hours and hourly rates;
(e)Receipts for trash disposal; and
(f) Receipts for equipment, materials, and supplies.

STATE shall pay LOCAL AGENCY for the maintenance services satisfactorily performed in accordance with the rates and schedules in Exhibit A .

15. Successors. This AGREEMENT shall be binding upon and inure to the benefit of each of the PARTIES’ successors-in-interest, including, but not limited to any public entity to whom any part of the STATE right of way covered under this AGREEMENT may be relinquished and any subsequently incorporated city or other municipality established within the LOCAL AGENCY’s jurisdictional limits.

16. Encroachment Permits. Before LOCAL AGENCY may enter STATE right of way to perform any maintenance services in the areas covered by this AGREEMENT, STATE’s District 12 Encroachment Permit Office must issue an Rev. 02/2025
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5 initial encroachment permit at no cost to LOCAL AGENCY. LOCAL AGENCY must obtain additional encroachment permits, if necessary, to enter or perform any work within STATE right of way not covered by this AGREEMENT. STATE will issue these additional encroachment permits at no cost to LOCAL AGENCY.

17. Legal Disposal of Litter Collected.
1LOCAL AGENCY shall make its own arrangements for the legal disposal of litter or debris materials to authorized disposal sites. LOCAL AGENCY shall not leave any filled litter bags, litter piles or other groups of litter assembled during its maintenance services along or in STATE Right of Way. Such litter groupings shall be removed out of STATE Right of Way each day LOCAL AGENCY performs the maintenance services in this AGREEMENT.

18. Safety and Worker Compliance. LOCAL AGENCY shall be solely responsible for crew pay, workers compensation and any other benefits required by state and federal law. Subcontractors and crew members are not considered STATE’s employees at any time. LOCAL AGENCY shall comply with all applicable State and Federal statutes and regulations governing worker and public safety, including but not limited to compliance with CAL-OSHA regulations and guidelines.

LOCAL AGENCY shall make arrangements through the STATE if traffic controls, flags, signs, or lane closures are necessary to safely perform any maintenance services. STATE’s maintenance Supervisor or designee shall determine what protections are required at the worksite pursuant to applicable provisions of the Caltrans Maintenance Manual, including but not limited to Volume 1, Chapter 8, Protection of Workers.

19. Equipment and Supplies. LOCAL AGENCY shall provide the necessary equipment, tools, personal protective equipment, materials, supplies and products necessary to perform the maintenance services under this AGREEMENT. STATE shall reimburse LOCAL AGENCY for the reasonable costs of such equipment and supplies not to exceed the authorized expenditures set forth in Exhibit A.

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6 20. Legal Relations and Responsibilities.

20.1 No Third-party Beneficiaries. This AGREEMENT is not intended to create duties, obligations, or rights of third parties beyond the PARTIES to this AGREEMENT. Nor does this AGREEMENT affect a PARTY’s legal liability by imposing any standard of care for the maintenance of STATE highways different from the standard of care imposed by law.

20.2 Indemnification. Neither STATE nor any of its officers or employees is responsible for any injury, damage or liability occurring by reason of anything done or omitted to be done by LOCAL AGENCY in
connection with any work, authority or jurisdiction conferred upon LOCAL AGENCY under this AGREEMENT. LOCAL AGENCY shall fully defend, indemnify, and save harmless STATE and its officers and employees from all claims, suits, or actions of every kind occurring by reason of anything done or omitted to be done by LOCAL AGENCY, its contractors, sub-contractors and/or its agents pursuant to this AGREEMENT.

Neither LOCAL AGENCY nor any of its officers or employees is responsible for any injury, damage or liability occurring by reason of anything done or omitted to be done by STATE, in connection with any work, authority or jurisdiction conferred upon STATE under this Agreement. STATE shall fully defend, indemnify, and save harmless LOCAL AGENCY and its officers and employees from all claims, suits, or actions of every kind occurring by reason of anything done or omitted to be done by STATE under this Agreement.

20.3 Work-related Injuries. If a LOCAL AGENCY-assigned crew member is injured while performing maintenance services under this AGREEMENT, LOCAL AGENCY or its designated subcontractor shall be responsible for ensuring the crew member is given prompt medical care and treatment and, if necessary, transportation to a medical facility. LOCAL AGENCY or its designated subcontractor shall administer any injury and workers compensation claims. LOCAL Rev. 02/2025
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7 AGENCY shall notify the DMAC within twenty-four (24) hours when any such incident has occurred.

21. Prevailing Wages and Labor Compliance. LOCAL AGENCY shall comply with any and all applicable labor and prevailing wage requirements in Labor Code Sections 1720 through 1815 and implementing regulations for public works or maintenance contracts and subcontracts executed for the LOCAL AGENCY’s maintenance services under this AGREEMENT.

22. Insurance.

Self-Insured.
2 LOCAL AGENCY is self-insured. LOCAL AGENCY shall deliver evidence of self-insured coverage providing general liability insurance, coverage of bodily injury and property damage liability, in an amount of$1 million per occurrence, $2 million in aggregate, and $5 million in excess by delivering a Letter Certifying Self-Insurance. The Letter of Self-Insurance must be substantially in the form of Exhibit B and identify the AGREEMENT number, and location as depicted in Exhibit A LOCAL AGENCY shall provide the original Letter Certifying Self-Insurance as a condition to STATE’s execution of this AGREEMENT. A copy of the original letter shall be attached to this AGREEMENT as Exhibit B.

Self-Insured3 using Contractor. If the work performed under this AGREEMENT is done by LOCAL AGENCY‘s contractor(s), LOCAL AGENCY shall require its contractor(s) to maintain in force, during the term of this AGREEMENT, a policy of general liability insurance, including coverage of bodily injury and property damage liability, naming STATE, its officers, agents and employees as the additional insured in an amount of $1 million per occurrence, $2 million in aggregate, and $5 million in excess. LOCAL AGENCY shall provide a certificate of insurance evidencing this insurance in a form satisfactory to STATE.

23. Budget Contingency. STATE’s payments to LOCAL AGENCY are contingent upon the Legislature appropriating sufficient funds under the Budget Act and the encumbrance of funding to STATE’s District Office.

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8 24. Termination. This AGREEMENT may be terminated by the mutual written consent of each PARTY. Either PARTY may terminate this AGREEMENT upon (90) days’ prior written notice to the other PARTY.

25. Effective Date (Term) of Agreement. This AGREEMENT shall become effective on the last of the dates each PARTY’s authorized representative has executed this AGREEMENT.

26. Authority. Each individual executing this AGREEMENT on behalf of each PARTY represents and warrants that he/she is duly authorized to execute this AGREEMENT as authorized under Streets and Highways Code Sections 114 and 130. LOCAL AGENCY represents and certifies that it has, through its regular political process, authorized the execution of this AGREEMENT by appropriate resolution, delegation, or plenary authority as required.

27. Default. If a PARTY fails to perform obligations assumed under this agreement, the non-defaulting PARTY may by written notice request that the default be remedied within thirty (30) calendar days. if the defaulting PARTY fails or refuses to do so, the non-defaulting PARTY may complete the obligations and seek reimbursement from the defaulting PARTY who shall pay the invoice within thirty (30) calendar days. If there is an immediate threat to maintain the structural integrity of, or prevent imminent danger of destruction to, the features shown on Exhibit A, either PARTY may perform necessary maintenance or remedial measures to maintain the structural integrity and/or prevent destruction of the features without notice or delay.

28. Counterparts. This AGREEMENT may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same document.

29. Electronic Signatures. Electronic signatures of the PARTIES, whether digital or encrypted, are intended to authenticate this written AGREEMENT, and shall have the same force and effect as manual signatures for this AGREEMENT.

THE CITY OF STANTON STATE OF CALIFORNIA
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9 CITY Clerk

DEPARTMENT OF TRANSPORTATION
Dated: Dated:

Mayor/Chairman Andrew Chuah
Deputy District Director
Maintenance District
12 APPROVED:

Dated:

CITY Manager
Dated:

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Stanton City CouncilAugust 12, 2025

Stanton City Council
August 12, 2025