Agenda packet — City Council and Concurrent Authorities, November 14, 2023 (part 1 of 3)

City Council/Successor Agency to the
Redevelopment Agency/Public
Financing Authority/Parking Authority
Concurrent
City of Stockton
Meeting Agenda - Final
City Council/Successor
Agency of the
Redevelopment
Agency/Public Financing
Authority/Parking Authority
Concurrent Agenda
Council Chamber, City Hall, 425 N. El Dorado
Street, Stockton CA
4:00 PMTuesday, November 14, 2023
Closed Session 4:00 PM :: Regular Session 5:30 PM
Note: Councilmember Susan Lenz will participate in the meeting via teleconference from the following location: Westin New York Times Square, Lobby, 270 West 42nd St.

New York, New York 10036

1. CLOSED SESSION CALL TO ORDER/ROLL CALL

2. ADDITIONS TO CLOSED SESSION AGENDA

3. ANNOUNCEMENT OF CLOSED SESSION

3.1 23-1044 CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION Number of Cases: Four
Name of Case: Karla Heneby v. City of Stockton, et al. (San Joaquin County Superior Court Case No.

STK-CV-UCR-2022-9993)
Name of Case: Yachne Noah v. City of Stockton, et al. (San Joaquin County Superior Court Case No.

STK-CV-UNPI-2022-9992)
Name of Case: Angela Pelligra v. City of Stockton, et al. (San Joaquin County Superior Court Case No.

STK-CV-UCR-2022-9859)
Name of Case: Kurt Wilson v. City Council of Stockton, et al. (San Joaquin County Superior Court Case No.

STK-CV-UVM-2019-12404)
This Closed Session is authorized pursuant to section 54956.9(d) (1) of the Government Code.

Page 1 ends

1 November 14, 2023City Council/Successor Agency to
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
Department: City Attorney

3.2 23-1045 CONFERENCE WITH LABOR NEGOTIATOR
Recommended Action: Agency Designated Representative: City Manager Harry Black Employee Organizations: Unrepresented Units, Stockton City Employees' Association, Operating Engineer's Local 3, Mid-Management/Supervisory Level Unit, Unrepresented Management/Confidential, Law Department, Stockton Police Management Association, Stockton Firefighters Local 456 International Association of Firefighters, Stockton Fire Management, Stockton Police Officers' Association (SPOA)
This Closed Session is authorized pursuant to section 54957.6(a) of the Government Code.

Department: City Attorney

3.3 23-1046 PUBLIC EMPLOYEE PERFORMANCE EVALUATION:

Recommended Action: City Manager

This Closed Session is authorized pursuant to Government Code section 54957.

Department: Charter Review Advisory Commission

3.4 23-1047 PUBLIC EMPLOYEE PERFORMANCE EVALUATION:

Recommended Action: City Attorney

This Closed Session is authorized pursuant to Government Code section 54957.

Department: City Attorney

3.5 23-1048 PUBLIC EMPLOYEE PERFORMANCE EVALUATION:

Recommended Action: City Clerk

This Closed Session is authorized pursuant to Government Code section 54957.

Department: City Attorney

3.6 23-1049 CONFERENCE WITH LEGAL COUNSEL - POTENTIAL LITIGATION Number of Cases: One
Based on existing facts and circumstances, there is significant exposure to litigation pursuant to Government Code section 54956.9(d)(2).

Department: City Attorney

Page 2 ends

2 November 14, 2023City Council/Successor Agency to
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final

4. CLOSED SESSION PUBLIC COMMENT*

5. RECESS TO CLOSED SESSION

6. REGULAR SESSION CALL TO ORDER/ROLL CALL

7. INVOCATION/PLEDGE TO FLAG

8. REPORT OF ACTION TAKEN IN CLOSED SESSION

9. ADDITIONS TO REGULAR SESSION AGENDA***

10. RECOGNITIONS, ANNOUNCEMENTS, OR REPORTS

11. PUBLIC COMMENTS* – MATTERS NOT ON THE AGENDA

12. CONSENT AGENDA

12.1 23-0933 ACCEPT THE QUARTERLY INVESTMENT REPORT FOR QUARTER ENDED SEPTEMBER 30,2023
Recommended Action: RECOMMENDATION
It is recommended that the City Council accept by motion the Quarterly Investment Report for the quarter ended September 30, 2023.

Department: Administrative Services
Attachment A - Quarterly Investment Reports
Attachment B - Certification of Quarterly Investment
Attachments:

12.2 23-1067 APPOINTMENTS TO THE CHARTER REVIEW ADVISORY

COMMISSION
Recommended Action: RECOMMENDATION
Resolution ratifying the Mayor and Council's appointments to the Charter Review Advisory Commission for a term commencing immediately and Districts 2, 4, 5, and Mayoral appointments ending December 31, 2024, and Districts 1, 3, and 5 ending December 31, 2026.

Note: Redacted Applications and Resolution to be provided.

Department: City Clerk

12.3 23-0915 2024 CITY COUNCIL/SUCCESSOR AGENCY/STOCKTON PUBLIC

FINANCING AUTHORITY/STOCKTON PARKING AUTHORITY

MEETING CALENDAR

Page 3 ends

3 November 14, 2023City Council/Successor Agency to
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
Recommended Action: RECOMMENDATION
It is recommended that the City Council, Successor Agency, Stockton Public Financing Authority, and Stockton Parking Authority adopt by motion the 2024 Concurrent City Council/Successor Agency/Stockton Public Financing Authority/Stockton Parking Authority Meeting Calendar.

Department: City Manager
2024 Meeting and Closed Days CalendarAttachments:

12.4 23-0872 ADOPT RESOLUTION TO AUTHORIZE THE WEBER POINT EVENTS CENTER SHADE STRUCTURE REHABILITATION - PHASE 2

PROJECT
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Approve Notice of Exemption No. NOE36-22 under the California Environmental Quality Act for the Weber Point Events Center Shade Structure Rehabilitation - Phase 2, Project No. WP22033.

2. Approve the plans and specifications for the Weber Point Events Center Shade Structure Rehabilitation - Phase 2, Project No. WP22033.

3. Award a Construction Contract in the amount of $798,910 to McFadden Construction, Inc. for the Weber Point Events Center Shade Structure Rehabilitation - Phase 2, Project No. WP22033.

It is also recommended that the City Manager be authorized to take appropriate and necessary actions to carry out the purpose and intent of this resolution.

Department: Public Works
Attachment A - Vicinity Map
Proposed Resolution
Exhibit 1 - Notice of Exemption
Exhibit 2 - Construction Contract
Attachments:

12.5 23-0875 ADOPT RESOLUTION TO AUTHORIZE THE STREETLIGHT POLE REPLACEMENT FY 2022-23 SB1 PROJECT

Page 4 ends

4 November 14, 2023City Council/Successor Agency to
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Approve Notice of Exemption No. NOE38-23 under the California Environmental Quality Act for the Streetlight Pole Replacement FY 2022-23 SB1, Project No. WD23006.

2. Approve the plans and specifications for the Streetlight Pole Replacement FY 2022-23 SB1, Project No. WD23006.

3. Award a Construction Contract in the amount of $223,300 to St. Francis Electric, LLC of San Leandro, CA, for the Streetlight Pole Replacement FY 2022-23 SB1, Project No. WD23006.

It is also recommended that the City Manager be authorized to take appropriate and necessary actions to carry out the purpose and intent of this resolution.

Department: Public Works
Attachment A - Vicinity Map
Proposed Resolution
Exhibit 1 - Notice of Exemption
Exhibit 2 - Construction Contract
Attachments:

13. ADMINISTRATIVE MATTERS

14. UNFINISHED BUSINESS

15. NEW BUSINESS

15.1 23-0955 APPROVE AN AGREEMENT FOR PROFESSIONAL SERVICES WITH

COMMUNITY MEDICAL CENTERS OF STOCKTON TO UTILIZE

FUNDS RECEIVED THROUGH THE NATIONAL OPIOID

SETTLEMENT AGREEMENTS

Page 5 ends

5 November 14, 2023City Council/Successor Agency to
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution:

1. Approving findings pursuant to Stockton Municipal Code section

3.68.070 in support of an exception to the competitive bidding process.

2. Awarding a Professional Services Contract to Community Medical Centers (CMC) of Stockton, CA in the Not-to-Exceed amount of $4,500,000 for three years to utilize funds received through the National Opioid Settlement in order to remediate and provide activities that end, reduce, and/or lessen the effects of the opioid epidemic in communities.

3. Authorizing the City Manager to accept and appropriate all funds allocated to the City of Stockton under the Opioid Settlement Agreement Funds.

It is also recommended that the City Manager, or designee, be authorized to take appropriate actions to carry out the purpose and intent of this resolution.

Department: City Manager
Attachment A - List of Opioid Remediation Uses
Attachment B - CA DHCS Payment Information
Proposed Resolution - Opioid Settlement Agreement Funds.docx Exhibit 1 - CMC Agreement for Opioid Settlement Funds
PPT - 15.1 Opioid Settlement Fund.pdf
Attachments:

15.2 23-0992 STOCKTON DIAMOND GRADE SEPARATION PROJECT - EMINENT DOMAIN
Recommended Action: RECOMMENDATION
Informational only. No action to be taken.

Department: Public Works
PPT 15.2 Stockton Diamond Grade SeparationAttachments:

16. HEARINGS**

16.1 23-1066 PUBLIC HEARING FOR THE DISCUSSION OF THE PROPOSED

MEASURE A SUNSET EXTENSION
Recommended Action: RECOMMENDATION
It is recommended that the City Council hold the first required public hearing to discuss an extension of the 3/4 Cent General Transaction and Use Tax previously approved by voters at the November 5, 2013 election (Measure A).

Department: Administrative Services

Page 6 ends

6 November 14, 2023City Council/Successor Agency to
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
Attachment A - Recommended Findings Based on Evidence for Measure A Extension Attachment B - Ordinance No. 2013-07-09-1601
Attachment C - Marshall Plan June 5, 2013 Staff Rpt
Attachment D - Successor MOU Appendices
PPT - 16.1 Measure A Public Hearing Presentation
Attachments:

17. CITY MANAGER'S UPDATE

18. COUNCIL COMMENTS

19. ADJOURNMENT

INFORMATIONAL ITEMS

1. 23-0970 MEASURE A FISCAL YEAR 2018-19, FISCAL YEAR 2019-20, AND FISCAL YEAR 2020-21 ANNUAL REPORTS UPDATE
Recommended Action: RECOMMENDATION
This is an informational item submitting Annual Reports for Fiscal Year (FY) 2018-19, FY 2019-20, and FY 2020-21 to the City Council as required by the "City of Stockton Transaction and Use Tax Ordinance Citizens' Oversight Committee Charter."
Department: Administrative Services
Attachment A - DRAFT FY2018-19 Annual Report
Attachment B - DRAFT FY2019-20 Measure A Annual Report Attachment C - DRAFT FY2020-21 Measure A Annual Report
Attachments:

2. 23-1042 COUNCIL COMMITTEE/BOARD AND COMMISSION MINUTES Recommended Action: RECOMMENDATION
Information item only. No action required.

Department: City Clerk
Audit 2023-06-12
CSC 2023-06-15
CSC 2023-07-20
CSC 2023-08-17
Planning Commission 2023-04-27
Planning Commission 2023-05-25
Attachments:

Page 7 ends

7 November 14, 2023City Council/Successor Agency to
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final

CERTIFICATE OF POSTING
I declare, under penalty of perjury, that I am employed by the City of Stockton and that I caused this agenda to be posted in the City Hall notice case on November 9, 2023, in compliance with the Brown Act.

Eliza R. Garza, CMC
City Clerk
By: ________________________________

Deputy

Page 8 ends

8 November 14, 2023City Council/Successor Agency to
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final

PUBLIC COMMENTS
*Citizens may comment on any subject within the jurisdiction of the City Council/Successor Agency to the Redevelopment Agency/Public Finance Authority/Parking Authority, including items on the Agenda. Each speaker is limited to two minutes. Speakers must submit “Request to Speak” cards to the City Clerk, and be prepared to speak when called. No speaker cards will be received after the close of the Citizen’s Comments portion of the meeting.
**Speakers should hold comments on items listed as a Hearing until the Hearing is opened.

The City of Stockton invites public comments in multiple forms. You provide your comments by using one of these methods:

1. e-Comment - follow the e-comment link on the City's agenda page stockton.granicusideas.com/meetings

2. Email - you may email your comments to [email protected]

3. Voicemail - you can leave a voice message by dialing (209) 937-8459.

4. In-Person Comments - a) Speakers must submit "request to speak cards" to the Clerk prior to the Public Comment portion of the agenda. No speaker cards will be accepted after the close of Public Comment. Please redirect any inquiries to [email protected]. b) Address only issues over which the meeting body has jurisdiction. c) Each speaker will be limited to one 2-minute comment opportunity. Donating time is not authorized. d) Your time will be displayed on the speaker podium for convenience. *All written and voicemail public comments received by the Clerk's Office 90 minutes prior to the meeting start time will be forwarded to the meeting body members as correspondence and attached the minutes. All comments received after that time will be forwarded as correspondence the following business day. ***Additions to the Agenda - Government Code Section 54954.2(b)(2), allows members of the City Council present at the meeting to take immediate action, with either a two-thirds or unanimous vote, to place an item on the agenda that action must be taken and that the item came to the attention of the City subsequent to the agenda being posted.

All proceedings before this meeting body are conducted in English. The City of Stockton does not furnish language interpreters and, if one is needed, it shall be the responsibility of the person needing one.

In accordance with the Americans With Disabilities Act and California Law, it is the policy of the City of Stockton to offer its public programs, services and meetings in a manner that is readily accessible to everyone, including those with disabilities. If you are a person with a disability and require a copy of a public hearing notice, or an agenda and/or agenda packet in an appropriate alternative format; or if you require other accommodation, please contact the Office of the City Clerk located at 425 North El Dorado Street, Stockton, California 95202 during normal business hours or by calling (209) 937-8458, at least 5 days in advance of the hearing/meeting. Advance notification within this guideline will enable the City/Agency to make reasonable arrangements to ensure accessibility.

Materials related to an item on this agenda submitted to City Council after distribution of the agenda packet are available for public inspection in the City Clerk's Office at 425 North El Dorado Street, Stockton, California 95202, during normal business hours. Such documents are also available on the City's website at www.stocktongov.com subject to staff's ability to post the documents before the meeting.

CHALLENGING CITY DECISIONS: The time limit within which to commence any lawsuit or legal challenge to any quasi-adjudicative decision made by the City is governed by Section 1094.6 of the Code of Civil Procedure, unless a shorter limitation period is specified by any other provision. Under Section 1094.6, any lawsuit or legal challenge to any quasi-adjudicative decision made by the City must be filed no later than the 90th day following the date on

Page 9 ends

9 November 14, 2023City Council/Successor Agency to
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
which such decision becomes final. Any lawsuit or legal challenge, which is not filed within that 90-day period, will be barred. If a person wishes to challenge the nature of the above section in court, they may be limited to raising only those issues they or someone else raised at the meeting described in this notice, or in written correspondence delivered to the City of Stockton, at or prior to the meeting. In addition, judicial challenge may be limited or barred where the interested party has not sought and exhausted all available administrative remedies.

Page 10 ends

10 City of Stockton
Legislation Text
File #: 23-0933, Version: 1

ACCEPT THE QUARTERLY INVESTMENT REPORT FOR QUARTER ENDED SEPTEMBER 30,2023

RECOMMENDATION
It is recommended that the City Council accept by motion the Quarterly Investment Report for the quarter ended September 30, 2023.

Summary
Pursuant to California Government Code section 53646 and the City’s Investment Policy (Policy No.

17.01.030), the City Treasurer (Chief Financial Officer) is required to provide a quarterly report and certification to the City Council, City Manager, and City Auditor.

Starting July 1, 2022, the City moved to having two portfolio managers managing separate portions of the City’s Reserve portfolio. Both Quarterly Investment Reports and Certification for the quarter ending September 30, 2023, are provided as required (Attachments A and B). This report is presented as required and will bring the City current on its reporting requirements.

The City’s consolidated investment portfolio was approximately $844.2 million as of September 30, 2023, which represents a decrease of $79.4 million from the prior market value reported on June 30, 2023, due to net outflows of $42.5 million to CalPERS to prepay the City’s employer portion of the fiscal year 2023-24 required contributions, 2019A Water bond tender payment of $9.9 million, and other water debt service payments. This consolidated investment portfolio includes the City’s liquidity position, short-term investments, and the reserve portfolios (as shown on page 12 of Attachment A).

The total market value-based earnings for the most recent quarter are shown on pages 20-21 for PFM Asset Management and page 87 for Chandler Asset Management of Attachment A. Additionally, the City’s liquidity holding in both CAMP and LAIF, with combined holdings of $59.8 million, has interest earnings of $1.3 million for the quarter ended September 30, 2023.

DISCUSSION
Background
To comply with state law and City policy, the City is required to present a quarterly certification and investment reports detailing the City’s investment portfolio to the City Council, City Manager, and City Auditor. The City also posts monthly transaction reports to the City’s website. The Quarterly Investment Report shall include a complete description of the portfolio, the types of investments, the issuers, maturity dates, par value, and dollar amounts invested in all securities, investments, or programs that are under the management of contracted parties, including lending programs. The certification must provide assurances that investments were made consistent with the City’s Investment Policy and that the City will meet its expenditure obligations for the next six months.

City of Stockton Printed on 11/9/2023Page 1 of 3
powered by Legistar™
17 File #: 23-0933, Version: 1
The authority of the Council to invest, reinvest funds, sell or exchange securities is delegated to the City’s Chief Financial Officer, who also serves as City Treasurer (Resolution #2022-06-21-1601).

Pursuant to the Investment Policy, the City Treasurer may and does delegate some fiduciary responsibility to outside investment management firms. An investment manager’s fiduciary responsibility is a legal requirement related to registration with the Securities and Exchange Commission under the Investment Advisor Act of 1940.

Due to the specialized services and expertise required to assist the City in the varied investment options available, the City contracts with two experienced investment managers, PFM Asset Management LLC (PFMAM), and Chandler Asset Management Inc (Chandler).

Present Situation
The attached report (Attachment A) details the activities of the quarter ended September 30, 2023, and includes detailed information on the holdings of the City’s portfolio on that date, as aggregated on page 12 of Attachment A, followed by portfolio reports from both investment managers.

Incorporated by reference is a certification (Attachment B) that the assets comply with the requirements of State law and City policy, and that there is sufficient liquidity to cover the subsequent six months of budgeted activities.

The attached quarterly investment report has been published online along with monthly reports:
<http://www.stocktongov.com/government/departments/adminServices/finInv.html> Portfolio Balances and Performance
After hiking in July, the Federal Reserve left the overnight target rate unchanged at its current range of 5.25% to 5.50% following the September Federal Open Market Committee (FOMC) meeting.

While the hike pause was widely expected, the dot plot was a focus, as year-end 2024 and 2025 median expectations indicated a target rate 50 basis points (0.50%) higher than where it was shown in the June dot plot. Additionally, the Fed indicated there may be one more rate hike before the end of 2023. During the quarter, yields approached the highest levels seen in nearly 20 years, setting the tone for an extended period of elevated interest rates. At quarter end the yield curve remained inverted, as shorter maturities offered higher yields than longer maturities, despite the notable increase in the 10-year yield over the quarter. Longer maturities saw larger yield increases than shorter maturities, and, for the quarter, shorter strategies outperformed longer strategies.

The City divides its investment portfolio into Reserve and Liquid portions with a consolidated market value of approximately $844.2 million as of September 30, 2023. The Reserve portion represents the long-term assets managed by PFMAM and Chandler, and the liquid portion represents funds invested in several short-term investment vehicles including State of California Local Agency Investment Fund, California Asset Management Program, and Dreyfus Treasury Money Market, to maintain adequate liquidity and optimize returns. The total returns on the consolidated portfolio for the quarter of the fiscal year were positive due to decreased volatility in interest rates. These returns are detailed on pages 20-21 (PFMAM) and page 86 (Chandler Asset Management) of Attachment A.

The quarterly return valuation includes funds from all activities, restricted and unrestricted, and includes changes in fair market value (unrealized gains/losses).

City of Stockton Printed on 11/9/2023Page 2 of 3
powered by Legistar™
18 File #: 23-0933, Version: 1
The performance of the reserve portion of the portfolio, managed by both PFMAM and Chandler through September 30, 2023, is benchmarked against 80% of the ICE Bank of America (BofA) 1-5 Year AAA-A U.S. Corporate and Government Index and 20% the ICE BofA 5-10 Year U.S. Treasury Index. The benchmark generally reflects the portfolio’s strategy and composition. City staff works closely with both PFMAM and Chandler to monitor the status of the City’s investment portfolio and its returns.

The City’s investment portfolio complies with California Government Code section 53601. It is invested solely in fixed-income securities (no stock holdings) that, while earning certain rates of interest, gain in market value when interest rates fall and lose market value when interest rates rise.

The portfolio’s earnings on a market value basis were negative for the quarter, as unrealized market value losses due to rising interest rates, particularly on longer maturity securities, were greater than the portfolio’s realized earnings.

Looking ahead, inflation remains stubbornly above the Fed’s target, and we may see one more rate hike this year. Updated Fed economic projections, from the September FOMC meeting point to stronger GDP growth expectations, higher inflation, and slightly lower unemployment for the remainder of 2023 and into 2024. Headwinds to growth still exist, including higher energy prices, elevated geopolitical risks, high inflation, and reduced consumer savings.

FINANCIAL SUMMARY
There is no financial impact related to the presentation of these reports.

Attachment A - Quarterly Investment Report for Quarter Ended September 30, 2023 Attachment B - Certification of Quarterly Investment Report City of Stockton Printed on 11/9/2023Page 3 of 3
powered by Legistar™
19 Investment Performance Review
For the Quarter Ended September 30, 2023
Client Management Team PFM Asset Management LLC
Monique Spyke, Managing Director
Allison Kaune, Senior Analyst
Joseph Creason, Portfolio Manager
Rachael Miller, Client Consultant
213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
1 California Street Ste. 1000
San Francisco, CA 94111-5411
415-393-7270
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public

CITY OF STOCKTON

ATTACHMENT A
1 20
© PFM Asset Management LLC pfmam.com|
• Market Update
Ac
count Summary•
Portfolio Review•

ATTACHMENT A
2 21
© PFM Asset Management LLC pfmam.com|
Market Update
1 ATTACHMENT A
3 22
PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update ▸ The U.S. economy is characterized by:
▹ Stronger than expected growth, supported by a resilient consumer ▹ Inflation that remains stubbornly above the Federal Reserve’s (“Fed”) target range ▹ Continued creation of new jobs by the labor market, albeit at a moderating pace ▸ Fed pauses again in rate hike campaign
▹ After hiking in July, the Federal Reserve held rates steady at the September FOMC meeting as expected
▹ The Fed’s most recent “dot plot” indicated one more rate hike for 2023 and set the stage for interest rates to remain “higher-for-longer”
▹ Updated FOMC economic projections point to stronger GDP growth expectations, higher inflation, and slightly lower unemployment for the remainder of 2023 and into 2024 ▸ Interest rates reached their highest levels since 2006-7 ▹ The U.S. government rating downgrade by Fitch had little impact, although it highlighted growing worry about the erosion of governance standards and fiscal irresponsibility ▹ Treasury yields across the curve rose during Q3. Sticky inflation, a “higher for longer” market consensus, increased Treasury borrowing, and reduced Treasury holdings by China and Japan weighed especially on the long end of the curve ▹ The next concern is the annual federal budget process and potential for a government shutdown

CLIENT NAME
For the Quarter Ended September 30, 2023
Market Update
© PFM Asset Management LLC | pfmam.com
Current Market Themes

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
4 23
Source: Bloomberg, as of August 2023.

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2023
Market Update
© PFM Asset Management LLC | pfmam.com
-2%
0%
2%
4%
6%
8%
10%
Aug-20 Nov-20 Feb-21 May-21 Aug-21 Nov-21 Feb-22 May-22 Aug-22 Nov-22 Feb-23 May-23 Aug-23 Factors Contributing to the Consumer Price Index
(CP
I YoY)
Services (Ex Food & Energy) Goods (Ex Food & Energy) Food Energy Headline YoY% Inflation Gradually Falling, But Sensitive to
Rec
ently Rising Energy Prices

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
5 24
Fed’s Updated “Dot Plot” Projects Rates To Be “Higher for Longer” Source: Federal Reserve and Bloomberg. Individual dots represent each Fed members’ judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end. © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2023
Market Update
0%
1%
2%
3%
4%
5%
6%
7%
Fed Participants’ Assessments of ‘Appropriate’ Monetary Policy Sep-23 FOMC Projections
Sep-23 Median
Jun-23 Median
2023 Longer Term2024 2025 2026
The September Fed dot plot is more hawkish than the June dot plot as the median fed funds rate projections for 2024 and 2025 were 0.5 percentage points higher

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
6 25

3.8% 4.1% 4.1% 4.0% 4.0%
0%
1%
2%
3%
4 %
5%
6%
2023 2024 2025 2026 Longer
Run
Unemployment Rate
June Projections September Projections

2.1%

1.5%

1.8% 1.8% 1.8%
0%
1%
2%
3%
2 023 2024 2025 2026 Longer
Run
Change in Real GDP
June Projections September Projections
The Fed’s Protections for Growth and Employment Were More Upbeat © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2023
Market Update
Source: Federal Reserve, latest economic projections as of September 2023.

5.6%

5.1%

3.9%

2.9% 2.5%
0%
2%
4%
6%
8 %
2023 2024 2025 2026 Longer
Run
Federal Funds Rate
June Projections September Projections

3.3%

2.5% 2.2% 2.0% 2.0%
0%
1%
2%
3%
4 %
5%
2023 2024 2025 2026 Longer
Run
PCE Inflation
June Projections September Projections

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Market Update
© PFM Asset Management LLC pfmam.com|
5 ATTACHMENT A
7 26
Interest Rates Are At Their Highest Levels Since 2006-07 PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2023
Market Update
Source: Bloomberg, as of September 30, 2023.

5.45%

5.04%

4.61% 4.57% 4.70%

0.0%

1.0%

2. 0%

3.0%

4.0%

5.0%

6.0% Yield
Maturity
U.S. Treasury Yield Curve
15 Year Range
September 30, 2023
June 30, 2023
3-Month 2-Year 5-Year 10-Year 30-Year

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
8 27
Sector Yield Spreads
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2023
Market Update
Source: ICE BofAML 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of September 30, 2023. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted ave
rage life; spreads on agencies are relative to comparable maturity Treasuries.

CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index.

0.0%

0.2%

0.4%

0.6%

0.8%
Sep-22 Dec-22 Mar-23 Jun-23 Sep-23
Federal Agency Yield Spreads
Bullet Callable

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%
Sep-22 Dec-22 Mar-23 Jun-23 Sep-23
Corporate Notes A-AAA Yield Spreads

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%
Sep-22 Dec-22 Mar-23 Jun-23 Sep-23
Mortgage-Backed Securities Yield Spreads
Agency MBS Agency CMBS Index

0.0%

0.5%

1.0%

1.5%
Sep-22 Dec-22 Mar-23 Jun-23 Sep-23
Asset-Backed Securities AAA Yield Spreads

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
9 28
Fixed-Income Markets in Q3 2023
1-5 Year Indices
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2023
Market Update
Source: ICE BofAML Indices. ABS indices are 0-5 year, based on weighted average life. As of September 30, 2023.

0.23%

0.52%

1.07%

0.30%

0.57%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-5 Year Indices Quarterly Returns

0.83% 0.87%

1.41%

1.67%

2.17%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
10-Year Average

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
10 29
© PFM Asset Management LLC pfmam.com|
Account Summary

ATTACHMENT A
11 30
© PFM Asset Management LLC | pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Account Summary
Consolidated Summary
Account Summary
Reserve Portfolio1 $725,303,845
Short-Term Portfolio $10,520,365
BoW Main Account
CAMP Pool
Local Agency Investment Fund
$48,651,915
$58,988,373
$776,687
Total Program $844,241,185

14.8%

1.8% 0.8% 1.
4%

5.8%

20.4%

15.7%

8.8%

16.3%

7.7% 6.5%

0.0%$0
$50
$100
$150
$200
30 Days
and Under
31 to 60
days
61 to 90
days
91 to 180
days
181 to 1
year
1 to 2
years
2 to 3
years
3 to 4
years
4 to 5
years
5 to 7
years
7 to 10
years
Over 10
years
Millions
Maturity Distribution
(Weighted Average Maturity: 838 days)

1. Reserve Portfolio includes both the PFMAM Reserve portfolio assets and Chandler Asset Management assets. Figure includes cash in portfolios’ sweep accounts and excludes accrued interest.

ATTACHMENT A
12 31
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Compliance
|
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM").

Certificate of Compliance
During the reporting period for the quarter ended September 30, 2023, the account(s) managed by PFM Asset Management ("P
FMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged :PFM Asset Management LLC

ATTACHMENT A
13 32
© PFM Asset Management LLC pfmam.com|
Portfolio Review:

CITY OF STOCKTON RESERVE PORTFOLIO

ATTACHMENT A
14 33
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Snapshot
|
Yield and duration calculations exclude cash and cash equivalents. Sector allocation includes market values and accrued interest.

The portfolio’s benchmark is currently 80% ICE BofA 1-5 Year AAA-A US Corporate and Government Index and 20% ICE BofA 5-10 Year US Treasury Index. Prior to 3/31/23 it was the ML 1-5 year US Gov/Corp A-AAA. Source: Bloomberg. An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.

1. Portfolio Snapshot - CITY OF STOCKTON RESERVE PORTFOLIO¹ Credit Quality - S&P
8%
18%
22%
18% 17%
6%
4%
7%
0%
5%
10%
15%
20%
25%
0-1 Yr 1-2
Yrs
2-3
Yrs
3-4
Yrs
4-5
Yrs
5-6
Yrs
6-7
Yrs
> 7
Yrs
Duration Distribution
U.S. Treasury | 51%
Corporate | 18%
Federal Agency | 11%
Agency CMBS | 10%
ABS | 5%
Municipal | 2%
Negotiable CD | 2%
Supranational | 1%
Sector Allocation
AAA | 8%
AA+ | 73%
AA | 3%
AA- | 2%
A+ | 6%
A | 6%
A- | 2%
BBB+ | 1%
Not Rated | 1%
Portfolio Statistics
Portfolio Effective Duration 3.31 ye ars
Benchmark Effective Duration 2.49 years
Portfolio Credit Quality AA
Yield At Market 5.00%
Yield At Cost 2.99%
Total Market Value $418,205,313.48
$415,914,169.68Securities Sub-Total
$273,196.51Cash
$2,017,947.29Accrued Interest
Portfolio Benchmark
4%
28%
22% 18%
13%
6%
4%
6%

ATTACHMENT A
15 34
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Summary
|
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings, excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances invested in overnight funds.

Issuer Diversification - CITY OF STOCKTON RESERVE PORTFOLIO Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer U.S. Treasury 50.9%
UNITED STATES TREASURY 50.9% AA / Aaa / AA
Federal Agency 10.5%
FANNIE MAE 6.9% AA / Aaa / AA
FEDERAL FARM CREDIT BANKS 0.7% AA / Aaa / AA
FEDERAL HOME LOAN BANKS 0.7% AA / Aaa / NR
FREDDIE MAC 1.3% AA / Aaa / AA
UNITED STATES TREASURY 0.9% AA / Aaa / AA
Agency CMBS 10.0%
FANNIE MAE 1.1% AA / Aaa / AA
FREDDIE MAC 8.9% AA / Aaa / AA
Supranational 1.4%
INTER-AMERICAN DEVELOPMENT BANK 1.0% AAA / Aaa / AAA
INTL BANK OF RECONSTRUCTION AND DEV 0.4% AAA / Aaa / AAA Municipal 1.9%

CALIFORNIA DEPARTMENT OF WATER

RESOURCES

0.0% AAA / Aa / NR
CALIFORNIA STATE UNIVERSITY 0.1% AA / Aa / NR
FLORIDA STATE BOARD OF ADMIN FIN CORP 0.4% AA / Aa / AA

LOS ANGELES COMMUNITY COLLEGE

DISTRICT

0.2% AA / Aaa / NR
NEW JERSEY TURNPIKE AUTHORITY 0.1% AA / A / A
SAN DIEGO COMMUNITY COLLEGE DISTRICT 0.2% AAA / Aa / NR STATE OF CALIFORNIA 0.5% AA / Aa / AA
STATE OF MARYLAND 0.1% AAA / Aaa / AAA
UNIVERSITY OF CALIFORNIA 0.2% AA / Aa / AA
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Negotiable CD 1.7%
RABOBANK NEDERLAND 1.0% A / Aa / AA
TORONTO-DOMINION BANK 0.7% A / A / NR
Corporate 18.1%
3M COMPANY 0.3% BBB / A / NR
AMAZON.COM INC 1.0% AA / A / AA
APPLE INC 1.4% AA / Aaa / NR
BANK OF AMERICA CO 0.9% A / Aa / AA
CITIGROUP INC 1.5% A / A / A
DEERE & COMPANY 0.5% A / A / A
GOLDMAN SACHS GROUP INC 0.4% BBB / A / A
HERSHEY COMPANY 0.7% A / A / NR
HOME DEPOT INC 0.8% A / A / A
HONEYWELL INTERNATIONAL 0.5% A / A / A
INTEL CORPORATION 0.5% A / A / A
JP MORGAN CHASE & CO 0.7% A / A / AA
MASTERCARD INC 0.5% A / Aa / NR
MERCK & CO INC 0.5% A / A / NR
MICROSOFT CORP 1.2% AAA / Aaa / NR
NOVARTIS AG 0.8% AA / A / AA
PACCAR FINANCIAL CORP 0.9% A / A / NR
PFIZER INC 0.8% A / A / A
STATE STREET CORPORATION 1.0% A / A / AA
TARGET CORP 0.5% A / A / A
TOYOTA MOTOR CORP 0.8% A / A / A
TRUIST FIN CORP 0.5% A / A / A
US BANCORP 0.6% A / A / A

ATTACHMENT A
16 35
© PFM Asset Management LLC pfmam.com

Issuer Diversification - CITY OF STOCKTON RESERVE PORTFOLIO Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Corporate 18.1%
WAL-MART STORES INC 1.0% AA / Aa / AA
ABS 5.4%
AMERICAN EXPRESS CO 0.8% AAA / NR / AAA
Bank of America Corp 0.4% NR / Aaa / AAA
CARMAX AUTO OWNER TRUST 0.1% AAA / NR / AAA
CHASE ISSURANCE 0.8% AAA / NR / AAA
DISCOVER FINANCIAL SERVICES 0.2% AAA / Aaa / NR
FIFTH THIRD AUTO TRUST 0.7% AAA / Aaa / NR
HONDA AUTO RECEIVABLES 0.8% AAA / Aaa / AAA
HYUNDAI AUTO RECEIVABLES 0.2% AAA / NR / AAA
KUBOTA CREDIT OWNER TRUST 0.3% NR / Aaa / AAA
TOYOTA MOTOR CORP 0.4% AAA / Aaa / AAA
USAA AUTO OWNER TRUST 0.8% AAA / Aaa / NR
100.0%Total

ATTACHMENT A
17 36
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Characteristics
|
$0.0
$84.0
$168.0
$252.0
$336.0
$420.0
Millions
September 2023
$0.0
$84.0
$168.0
$252.0
$336.0
$420.0
Millions
June 2023
$0.0
$84.0
$168.0
$252.0
$336.0
$420.0
Millions
March 2023
$0.0
$84.0
$168.0
$252.0
$336.0
$420.0
Millions
December 2022
Sector Allocation Review - CITY OF STOCKTON RESERVE PORTFOLIO U.S. Treasury Federal Agency Agency CMBS Supranational Municipal Negotiable CD Corporate ABS Market values, excluding accrued interest. Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. Detail may not add to total due to rounding.

Dec-22 % of TotalSecurity Type Mar-23 % of Total Jun-23 % of Total % of TotalSep-23 U.S. Treasury $145.2 49.5% $223.5 60.4% $249.9 60.0% $211.8 50.9% Federal Agency $62.8 21.4% $60.7 16.4% $73.5 17.7% $43.9 10.6% Agency CMBS $0.8 0.3% $0.7 0.2% $3.2 0.8% $41.5 10.0%
Supranational $5.7 2.0% $5.8 1.6% $5.8 1.4% $5.8 1.4%
Municipal $7.9 2.7% $8.0 2.2% $8.0 1.9% $8.0 1.9%
Negotiable CD $7.7 2.6% $2.8 0.8% $2.8 0.7% $6.9 1.7%
Corporate $57.6 19.7% $63.7 17.2% $69.0 16.6% $75.3 18.1% ABS $5.3 1.8% $4.6 1.2% $3.9 0.9% $22.6 5.4%
Total $293.1 100.0% $369.7 100.0% $416.1 100.0% $415.9 100.0%

ATTACHMENT A
18 37
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Activity
|
Portfolio Activity - CITY OF STOCKTON RESERVE PORTFOLIO Net Activity by Sector
($
millions)
U.S. Treasury
Federal Agency
Negotiable CD
Corporate
ABS
Agency CMBS
U.S. Treasury
Fed
eral Agency
Negotiable CD
Corporate
ABS
Agency CMBS
($80.0) ($60.0) ($40.0) ($20.0) $0.0 $20.0 $40.0 $60.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.

Sector Net Activity
Agency CMBS $38,923,023
ABS $18,741,313
Corporate $6,482,176
Negotiable CD $4,200,000
Federal Agency ($29,860,861)
U.S. Treasury ($34,860,626)
$3,625,024Total Net Activity
Sales/Maturities Purchases

ATTACHMENT A
19 38
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Performance
|
The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is June 30, 2017.1.

2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.

3. Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.

4. The portfolio’s benchmark is currently 80% ICE BofA 1-5 Year AAA-A US Corporate and Government Index and 20% ICE BofA 5-10 Year US Treasury Index. Prior to 3/31/23 it was the ML 1-5 year US Gov/Corp A-AAA. Source: Bloomberg.
-2.0%
-1.0%

0.0%

1.0%

2.0%
Return
Portfolio Benchmark Net of Fees
Portfolio Performance - CITY OF STOCKTON RESERVE PORTFOLIO Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years Since Inception¹ Interest Earned² $2,314 ,558 $6,555,837 $21,372,405 $41,950,270 $50,186,973 Change in Market Value ($3,905,702) ($2,039,343) ($49,651,703) ($22,344,060) ($29,363,261) ($1,591,144)Total Dollar Return $4,516,494 ($28,279,298) $19,606,210 $20,823,712 Total Return³
Portfolio -0.38% 1.74% -1.62% 1.06% 0.89%
Benchmark⁴ -0.41% 1.55% -1.93% 0.88% 0.70%
Basis Point Fee 0.01% 0.04% 0.05% 0.05% 0.05%
Net of Fee Return -0.39% 1.70% -1.67% 1.01% 0.84%
3 Months 1 Year 3 Years 5 Years Since Inception

ATTACHMENT A
20 39
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Performance
|
The lesser of 10 years or since inception is shown. Performance inception date is June 30, 2017.1.

Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.

Realized gains / (losses) are shown on an amortized cost basis.3.

Accrual Basis Earnings - CITY OF STOCKTON RESERVE PORTFOLIO Accrual Basis Earnings
Interest Earned²
Reali
zed Gains / (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
$2,314,558
($2,0
83,680)
$484,751
$715,628
1 Year
$6,555,837
($2,3
07,575)
$1,324,524
$5,572,785
3 Years
$21,372,405
($14,
386,618)
$13,541,187
$20,526,974
5 Year
$41,950,270
($8,8
89,105)
$13,936,502
$46,997,668
Since Inception¹
$50,186,973
($10,
661,740)
$15,361,556
$54,886,790

ATTACHMENT A
21 40
© PFM Asset Management LLC pfmam.com|
Portfolio Review:

CITY OF STOCKTON SHORT-TERM PORTFOLIO

ATTACHMENT A
22 41
© PFM Asset Management LLC pfmam.com

An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.

1. Portfolio Snapshot - CITY OF STOCKTON SHORT-TERM PORTFOLIO¹ Credit Quality - S&P
100%
0%
20%
40%
60%
80%
100%
120%
0-1 Yr
Portfolio
Duration Distribution
Commercial Paper | 100%
Sector Allocation
A-1 | 100%
Portfolio Statistics
Portfolio Effective Duration 0.0 2 years
Yield At Cost 5.37%
Yield At Market 6.59%
Portfolio Credit Quality A
Total Market Value $10,520,365.05
$10,520,365.05Securities Sub-Total
$0.00Cash
$0.00Accrued Interest

ATTACHMENT A
23 42
© PFM Asset Management LLC pfmam.com

Issuer Diversification - CITY OF STOCKTON SHORT-TERM PORTFOLIO Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Commercial Paper 100.0%
LMA AMERICAS LLC 100.0% A / Aa / AA
100.0%Total

ATTACHMENT A
24 43
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Characteristics
|
$0.0
$22.0
$44.0
$66.0
$88.0
$110.0
Millions
September 2023
$0.0
$22.0
$44.0
$66.0
$88.0
$110.0
Millions
June 2023
$0.0
$22.0
$44.0
$66.0
$88.0
$110.0
Millions
March 2023
$0.0
$22.0
$44.0
$66.0
$88.0
$110.0
Millions
December 2022
Sector Allocation Review - CITY OF STOCKTON SHORT-TERM PORTFOLIO Negotiable CD Commercial Paper
Market values, excluding accrued interest. Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. Detail may not add to total due to rounding.

Dec-22 % of TotalSecurity Type Mar-23 % of Total Jun-23 % of Total % of TotalSep-23 Negotiable CD $49.6 45.1% $49.9 82.9% $0.0 0.0% $0.0 0.0% Commercial Paper $60.4 54.9% $10.2 17.1% $10.4 100.0% $10.5 100.0% Total $109.9 100.0% $60.1 100.0% $10.4 100.0% $10.5 100.0%

ATTACHMENT A
25 44
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Performance
|
The lesser of 10 years or since inception is shown. Performance inception date is January 1, 1900.1.

Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.

Realized gains / (losses) are shown on an amortized cost basis.3.

Accrual Basis Earnings - CITY OF STOCKTON SHORT-TERM PORTFOLIO Accrual Basis Earnings
Interest Earned²
Real
ized Gains / (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
-
-
$140
,739
$140,739
1 Year
$828,663
-
$1,0
91,971
$1,920,634
3 Years
-
-
-
-
5 Year
-
-
-
-
Since Inception¹
$1,356,238
-
$1,6
69,178
$3,042,916

ATTACHMENT A
26 45
© PFM Asset Management LLC pfmam.com|
Reserve Portfolio Holdings and Transactions

ATTACHMENT A
27 46
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/Description
Dat
ed Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury

US TREASURY NOTES
DTD 11/15/2020 0.250% 11/15/2023
91282CAW1 7,500.00 AA+ Aaa 10/4/2021 10/6/2021 7,491.80 0.30 7.08 7,454.307,499.52

US TREASURY NOTES
DTD 11/15/2013 2.750% 11/15/2023
912828WE6 12,500.00 AA+ Aaa 3/6/2019 3/8/2019 12,626.46 2.52 129.84 12,458.9912,503.32

US TREASURY NOTES
DTD 11/30/2016 2.125% 11/30/2023
912828U57 67,500.00 AA+ Aaa 1/7/2019 1/9/2019 66,292.38 2.52 482.04 67,141.4167,459.43

US TREASURY NOTES
DTD 02/28/2019 2.375% 02/29/2024
9128286G0 9,500.00 AA+ Aaa 8/11/2021 8/12/2021 9,992.07 0.33 19.22 9,381.259,579.81

US TREASURY NOTES
DTD 05/01/2017 2.000% 04/30/2024
912828X70 7,500.00 AA+ Aaa 6/3/2019 6/5/2019 7,533.98 1.90 62.77 7,351.177,504.02

US TREASURY NOTES
DTD 08/31/2017 1.875% 08/31/2024
9128282U3 7,500.00 AA+ Aaa 11/25/2020 11/27/2020 7,952.05 0.26 11.98 7,259.777,610.30

US TREASURY N/B NOTES
DTD 09/15/2021 0.375% 09/15/2024
91282CCX7 7,500.00 AA+ Aaa 10/4/2021 10/6/2021 7,472.75 0.50 1.24 7,147.277,491.13

US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
9128283J7 7,500.00 AA+ Aaa 1/3/2020 1/7/2020 7,673.73 1.63 53.56 7,223.447,541.37

US TREASURY NOTES
DTD 02/29/2020 1.125% 02/28/2025
912828ZC7 12,500.00 AA+ Aaa 10/4/2021 10/6/2021 12,719.24 0.60 11.98 11,794.9212,591.16

US TREASURY NOTES
DTD 04/30/2020 0.375% 04/30/2025
912828ZL7 2,977,500.00 AA+ Aaa 4/5/2021 4/7/2021 2,938,652.93 0.70 4,672.57 2,759,770.312,962,395.71

US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025
912828ZW3 1,597,500.00 AA+ Aaa 10/4/2021 10/6/2021 1,571,103.81 0.70 1,009.29 1,467,952.651,585,144.34

US TREASURY NOTES
DTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 6,095,000.00 AA+ Aaa 8/19/2021 8/20/2021 6,004,527.34 0.62 1,297.70 5,559,782.816,051,976.32

US TREASURY NOTES
DTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 2,725,000.00 AA+ Aaa 8/17/2021 8/20/2021 2,683,486.33 0.63 580.18 2,485,710.942,705,258.44

US TREASURY NOTES
DTD 10/31/2020 0.250% 10/31/2025
91282CAT8 3,500,000.00 AA+ Aaa 10/4/2021 10/6/2021 3,425,898.44 0.78 3,661.68 3,172,421.703,462,051.62

US TREASURY NOTES
DTD 11/30/2020 0.375% 11/30/2025
91282CAZ4 6,772,500.00 AA+ Aaa 11/1/2021 11/2/2021 6,589,430.86 1.05 8,535.02 6,134,403.186,675,248.36

ATTACHMENT A
28 47
© PFM Asset Management LLC pfmam.com

US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 700,000.00 AA+ Aaa 1/11/2021 1/13/2021 695,980.47 0.49 663.38 632,625.00698,177.58

US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 5,700,000.00 AA+ Aaa 5/6/2021 5/10/2021 5,606,707.03 0.73 5,401.84 5,151,375.005,654,783.71

US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 8,475,000.00 AA+ Aaa 1/4/2022 1/6/2022 8,174,402.34 1.27 5,354.45 7,627,500.008,302,449.66

US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 7,635,000.00 AA+ Aaa 2/18/2022 2/22/2022 7,215,969.73 1.83 4,823.74 6,871,500.007,386,610.27

US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 1,195,000.00 AA+ Aaa 7/2/2021 7/7/2021 1,172,033.59 0.80 754.99 1,075,500.001,183,262.22

US TREASURY NOTES
DTD 01/31/2019 2.625% 01/31/2026
9128286A3 1,707,500.00 AA+ Aaa 2/4/2021 2/4/2021 1,890,055.76 0.46 7,551.51 1,619,990.631,792,966.56

US TREASURY NOTES
DTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 1,980,000.00 AA+ Aaa 12/3/2021 12/7/2021 1,926,632.81 1.15 843.13 1,782,309.281,949,548.90

US TREASURY NOTES
DTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 10,690,000.00 AA+ Aaa 2/2/2022 2/3/2022 10,249,872.66 1.55 4,552.06 9,622,669.7710,429,063.13

US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 805,000.00 AA+ Aaa 6/7/2021 6/7/2021 803,176.17 0.80 2,029.00 722,739.06804,024.42

US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 4,360,000.00 AA+ Aaa 6/6/2022 6/8/2022 3,995,871.88 2.99 10,989.34 3,914,462.504,116,161.97

US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 3,155,000.00 AA+ Aaa 10/4/2021 10/6/2021 3,133,186.13 0.90 7,952.15 2,832,598.443,142,500.06

US TREASURY N/B NOTES
DTD 09/30/2021 0.875% 09/30/2026
91282CCZ2 3,700,000.00 AA+ Aaa 4/5/2022 4/7/2022 3,406,746.09 2.77 88.46 3,301,672.063,503,840.54

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24 2,540,000.00 AA+ Aaa 8/8/2022 8/9/2022 2,437,606.25 3.01 19,188.04 2,336,006.252,465,060.12

US TREASURY NOTES
DTD 02/15/2017 2.250% 02/15/2027
912828V98 855,000.00 AA+ Aaa 8/8/2022 8/9/2022 828,515.04 2.99 2,456.96 789,004.69835,220.50

US TREASURY NOTES
DTD 02/15/2017 2.250% 02/15/2027
912828V98 1,390,000.00 AA+ Aaa 5/12/2023 5/12/2023 1,328,047.27 3.52 3,994.36 1,282,709.371,334,445.30

US TREASURY N/B NOTES
DTD 03/31/2022 2.500% 03/31/2027
91282CEF4 5,350,000.00 AA+ Aaa 5/9/2023 5/10/2023 5,138,925.78 3.60 365.44 4,968,812.505,160,315.43

US TREASURY N/B NOTES
DTD 04/30/2020 0.500% 04/30/2027
912828ZN3 4,840,000.00 AA+ Aaa 8/2/2022 8/3/2022 4,331,989.06 2.88 10,127.17 4,172,987.504,456,423.86

ATTACHMENT A
29 48
© PFM Asset Management LLC pfmam.com

US TREASURY NOTES
DTD 06/30/2020 0.500% 06/30/2027
912828ZV5 4,215,000.00 AA+ Aaa 8/25/2022 8/26/2022 3,705,577.73 3.21 5,326.02 3,610,410.943,821,054.46

US TREASURY N/B NOTES
DTD 06/30/2022 3.250% 06/30/2027
91282CEW7 4,300,000.00 AA+ Aaa 3/30/2023 3/31/2023 4,214,000.00 3.76 35,317.26 4,085,000.004,224,195.88

US TREASURY N/B NOTES
DTD 07/31/2022 2.750% 07/31/2027
91282CFB2 5,000,000.00 AA+ Aaa 5/12/2023 5/12/2023 4,857,226.56 3.48 23,165.76 4,657,812.504,870,382.84

US TREASURY NOTES
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 2,730,000.00 AA+ Aaa 9/1/2022 9/6/2022 2,588,274.61 3.40 7,845.04 2,494,963.932,618,913.69

US TREASURY N/B NOTES
DTD 08/31/2022 3.125% 08/31/2027
91282CFH9 5,030,000.00 AA+ Aaa 3/24/2023 3/24/2023 4,971,644.14 3.41 13,386.85 4,747,062.504,978,520.12

US TREASURY NOTES
DTD 09/30/2020 0.375% 09/30/2027
91282CAL5 2,400,000.00 AA+ Aaa 10/28/2022 10/31/2022 1,998,843.75 4.17 24.59 2,025,750.002,073,711.35

US TREASURY NOTES
DTD 10/31/2020 0.500% 10/31/2027
91282CAU5 5,340,000.00 AA+ Aaa 1/4/2023 1/6/2023 4,547,552.34 3.91 11,173.37 4,516,471.614,668,289.11

US TREASURY N/B NOTES
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 1,790,000.00 AA+ Aaa 12/1/2022 12/2/2022 1,820,346.09 3.74 30,899.39 1,751,962.501,815,220.75

US TREASURY N/B NOTES
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 4,250,000.00 AA+ Aaa 3/30/2023 3/31/2023 4,320,224.61 3.73 73,364.47 4,159,687.504,312,510.38

US TREASURY N/B NOTES
DTD 12/31/2022 3.875% 12/31/2027
91282CGC9 2,945,000.00 AA+ Aaa 2/1/2023 2/2/2023 2,981,582.42 3.60 28,839.79 2,854,809.382,976,665.32

US TREASURY NOTES
DTD 01/31/2021 0.750% 01/31/2028
91282CBJ9 540,000.00 AA+ Aaa 3/14/2022 3/15/2022 498,382.03 2.15 682.34 457,818.75509,329.03

US TREASURY NOTES
DTD 01/31/2021 0.750% 01/31/2028
91282CBJ9 4,500,000.00 AA+ Aaa 5/12/2023 5/12/2023 3,976,347.66 3.44 5,686.14 3,815,156.254,019,454.11

US TREASURY N/B NOTES
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 4,825,000.00 AA+ Aaa 3/24/2023 3/24/2023 4,967,299.80 3.35 16,436.81 4,700,605.714,952,225.33

US TREASURY N/B NOTES
DTD 03/31/2021 1.250% 03/31/2028
91282CBS9 5,735,000.00 AA+ Aaa 5/9/2023 5/10/2023 5,152,315.04 3.53 195.87 4,950,021.875,199,268.95

US TREASURY N/B NOTES
DTD 03/31/2023 3.625% 03/31/2028
91282CGT2 4,260,000.00 AA+ Aaa 3/30/2023 3/31/2023 4,253,510.16 3.66 421.93 4,084,275.004,254,163.76

US TREASURY N/B NOTES
DTD 03/31/2021 1.250% 03/31/2028
91282CBS9 1,985,000.00 AA+ Aaa 5/8/2023 5/10/2023 1,786,655.08 3.49 67.79 1,713,303.131,802,638.11

US TREASURY N/B NOTES
DTD 04/30/2023 3.500% 04/30/2028
91282CHA2 2,050,000.00 AA+ Aaa 5/1/2023 5/1/2023 2,040,230.47 3.61 30,025.82 1,953,906.252,041,049.06

ATTACHMENT A
30 49
© PFM Asset Management LLC pfmam.com

US TREASURY NOTES
DTD 05/15/2018 2.875% 05/15/2028
9128284N7 1,130,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,067,938.28 4.00 12,271.09 1,047,015.631,077,435.93

US TREASURY N/B NOTES
DTD 07/31/2021 1.000% 07/31/2028
91282CCR0 2,375,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,054,746.09 3.71 4,001.36 2,003,164.062,096,278.03

US TREASURY N/B
DTD 08/15/1998 5.500% 08/15/2028
912810FE3 2,715,000.00 AA+ Aaa 2/27/2023 2/28/2023 2,886,914.65 4.19 19,071.40 2,807,479.692,868,387.51

US TREASURY N/B NOTES
DTD 08/31/2023 4.375% 08/31/2028
91282CHX2 1,030,000.00 AA+ Aaa 8/30/2023 8/31/2023 1,034,586.72 4.28 3,837.74 1,019,700.001,034,508.89

US TREASURY N/B NOTES
DTD 09/30/2021 1.250% 09/30/2028
91282CCY5 525,000.00 AA+ Aaa 3/14/2022 3/15/2022 495,591.79 2.17 17.93 446,085.94502,541.03

US TREASURY N/B
DTD 11/15/1998 5.250% 11/15/2028
912810FF0 1,000,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,064,765.63 4.02 19,830.16 1,025,000.001,055,691.90

US TREASURY NOTES
DTD 02/15/2019 2.625% 02/15/2029
9128286B1 2,165,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,991,630.86 4.15 7,258.34 1,958,310.052,008,737.04

US TREASURY N/B NOTES
DTD 02/16/1999 5.250% 02/15/2029
912810FG8 1,875,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,027,856.45 3.74 12,572.18 1,920,410.252,009,804.70

US TREASURY NOTES
DTD 02/15/2019 2.625% 02/15/2029
9128286B1 500,000.00 AA+ Aaa 3/21/2022 3/22/2022 509,433.59 2.33 1,676.29 452,265.60507,346.38

US TREASURY N/B NOTES
DTD 05/31/2022 2.750% 05/31/2029
91282CES6 2,675,000.00 AA+ Aaa 1/11/2023 1/12/2023 2,535,920.90 3.67 24,721.83 2,423,382.812,551,553.13

US TREASURY N/B NOTES
DTD 05/31/2022 2.750% 05/31/2029
91282CES6 670,000.00 AA+ Aaa 8/5/2022 8/9/2022 662,698.05 2.93 6,192.01 606,978.13663,925.32

US TREASURY N/B NOTES
DTD 05/31/2022 2.750% 05/31/2029
91282CES6 1,145,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,067,578.32 3.94 10,581.87 1,037,298.441,077,525.08

US TREASURY N/B NOTES
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 3,450,000.00 AA+ Aaa 7/7/2023 7/10/2023 3,267,123.05 4.26 28,335.94 3,205,804.863,274,079.41

US TREASURY N/B
DTD 08/15/1999 6.125% 08/15/2029
912810FJ2 1,775,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,023,083.98 3.72 13,885.28 1,905,074.131,995,988.43

US TREASURY NOTES
DTD 08/15/2019 1.625% 08/15/2029
912828YB0 520,000.00 AA+ Aaa 3/21/2022 3/22/2022 496,518.75 2.29 1,079.21 441,187.50501,366.16

US TREASURY N/B NOTES
DTD 11/30/2022 3.875% 11/30/2029
91282CFY2 1,070,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,069,289.45 3.89 13,934.12 1,025,528.131,069,374.20

US TREASURY N/B NOTES
DTD 12/31/2022 3.875% 12/31/2029
91282CGB1 2,030,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,059,339.84 3.64 19,879.38 1,944,676.662,056,309.06

ATTACHMENT A
31 50
© PFM Asset Management LLC pfmam.com

US TREASURY NOTES
DTD 02/15/2020 1.500% 02/15/2030
912828Z94 542,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,040.43 2.66 1,039.30 449,681.61506,383.38

US TREASURY N/B NOTES
DTD 02/28/2023 4.000% 02/28/2030
91282CGQ8 2,010,000.00 AA+ Aaa 2/27/2023 2/28/2023 2,000,892.19 4.08 6,847.25 1,938,393.752,001,658.00

US TREASURY N/B
DTD 11/15/1999 6.250% 05/15/2030
912810FM5 925,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,065,123.05 3.89 21,836.79 1,007,382.811,049,428.03

US TREASURY NOTES
DTD 05/15/2020 0.625% 05/15/2030
912828ZQ6 2,535,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,057,608.01 3.56 5,984.46 1,961,852.222,104,439.08

US TREASURY N/B
DTD 11/15/1999 6.250% 05/15/2030
912810FM5 2,160,000.00 AA+ Aaa 1/11/2023 1/12/2023 2,519,859.38 3.64 50,991.84 2,352,375.002,484,679.10

US TREASURY N/B NOTES
DTD 05/31/2023 3.750% 05/31/2030
91282CHF1 2,830,000.00 AA+ Aaa 7/12/2023 7/12/2023 2,783,459.77 4.03 35,664.96 2,686,731.252,784,958.68

US TREASURY NOTES
DTD 08/15/2020 0.625% 08/15/2030
91282CAE1 2,540,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,995,586.72 3.97 2,027.51 1,949,053.262,038,540.43

US TREASURY NOTES
DTD 08/15/2020 0.625% 08/15/2030
91282CAE1 587,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,755.37 2.65 468.96 450,814.48514,419.61

US TREASURY NOTES
DTD 08/15/2020 0.625% 08/15/2030
91282CAE1 2,545,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,052,204.49 3.56 2,031.50 1,952,889.972,098,942.76

US TREASURY NOTES
DTD 11/15/2020 0.875% 11/15/2030
91282CAV3 1,330,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,071,065.63 3.72 4,395.69 1,034,490.631,098,232.81

US TREASURY NOTES
DTD 11/15/2020 0.875% 11/15/2030
91282CAV3 3,000,000.00 AA+ Aaa 7/11/2023 7/12/2023 2,405,390.63 4.02 9,915.08 2,333,437.502,423,341.94

US TREASURY NOTES
DTD 02/15/2001 5.375% 02/15/2031
912810FP8 1,820,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,991,620.31 3.98 12,493.95 1,902,468.751,978,936.10

US TREASURY NOTES
DTD 02/15/2021 1.125% 02/15/2031
91282CBL4 565,000.00 AA+ Aaa 4/6/2022 4/11/2022 498,104.88 2.63 811.80 445,467.19509,240.27

US TREASURY NOTES
DTD 02/15/2001 5.375% 02/15/2031
912810FP8 1,800,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,021,273.44 3.61 12,356.66 1,881,562.502,001,593.05

US TREASURY NOTES
DTD 02/15/2001 5.375% 02/15/2031
912810FP8 2,955,000.00 AA+ Aaa 7/7/2023 7/10/2023 3,201,326.95 4.09 20,285.51 3,088,898.443,193,964.64

US TREASURY N/B NOTES
DTD 05/15/2021 1.625% 05/15/2031
91282CCB5 2,930,000.00 AA+ Aaa 1/11/2023 1/12/2023 2,530,673.05 3.53 17,984.07 2,378,336.092,565,032.22

US TREASURY N/B NOTES
DTD 05/15/2021 1.625% 05/15/2031
91282CCB5 1,265,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,070,802.73 3.76 7,764.45 1,026,824.281,089,983.48

ATTACHMENT A
32 51
© PFM Asset Management LLC pfmam.com

US TREASURY N/B NOTES
DTD 08/15/2021 1.250% 08/15/2031
91282CCS8 2,465,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,994,627.93 3.92 3,935.30 1,926,551.562,027,356.08

US TREASURY N/B NOTES
DTD 08/15/2021 1.250% 08/15/2031
91282CCS8 562,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,515.62 2.63 898.01 439,628.91508,601.64

US TREASURY N/B NOTES
DTD 11/15/2021 1.375% 11/15/2031
91282CDJ7 2,080,000.00 AA+ Aaa 1/10/2023 1/11/2023 1,739,075.00 3.55 10,802.72 1,630,200.001,766,834.53

US TREASURY N/B NOTES
DTD 11/15/2021 1.375% 11/15/2031
91282CDJ7 1,305,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,068,927.54 3.77 6,777.66 1,022,793.751,090,933.07

US TREASURY N/B NOTES
DTD 02/15/2022 1.875% 02/15/2032
91282CDY4 2,365,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,999,625.98 3.94 5,663.47 1,920,823.442,023,619.69

US TREASURY N/B NOTES
DTD 05/15/2022 2.875% 05/15/2032
91282CEP2 2,175,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,056,224.61 3.57 23,619.14 1,909,242.192,065,379.92

US TREASURY N/B NOTES
DTD 05/15/2022 2.875% 05/15/2032
91282CEP2 2,670,000.00 AA+ Aaa 1/11/2023 1/12/2023 2,525,548.83 3.56 28,994.53 2,343,759.372,536,644.17

US TREASURY N/B NOTES
DTD 05/15/2022 2.875% 05/15/2032
91282CEP2 1,150,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,067,164.06 3.79 12,488.28 1,009,484.381,074,478.76

US TREASURY N/B NOTES
DTD 05/15/2022 2.875% 05/15/2032
91282CEP2 660,000.00 AA+ Aaa 8/5/2022 8/9/2022 662,629.69 2.83 7,167.19 579,356.25662,321.53

US TREASURY N/B NOTES
DTD 11/15/2022 4.125% 11/15/2032
91282CFV8 3,225,000.00 AA+ Aaa 7/7/2023 7/10/2023 3,242,006.84 4.06 50,248.22 3,110,613.123,241,593.62

US TREASURY N/B NOTES
DTD 11/15/2022 4.125% 11/15/2032
91282CFV8 1,055,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,084,877.93 3.78 16,437.79 1,017,580.421,082,373.05

US TREASURY N/B NOTES
DTD 11/15/2022 4.125% 11/15/2032
91282CFV8 1,965,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,054,269.34 3.57 30,616.36 1,895,303.802,047,740.46

US TREASURY N/B NOTES
DTD 02/15/2023 3.500% 02/15/2033
91282CGM7 2,065,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,993,450.98 3.92 9,230.77 1,895,282.811,997,677.09 233,512,000.00 222,932,332.50 1,009,456.76 211,811,375.59Security Type Sub-Total 2.90 224,854,480.72 Supranational

INTL BK RECON & DEVELOP NOTES
DTD 11/24/2020 0.250% 11/24/2023
459058JM6 1,870,000.00 AAA Aaa 11/17/2020 11/24/2020 1,865,979.50 0.32 1,649.24 1,855,975.001,869,801.73

ATTACHMENT A
33 52
© PFM Asset Management LLC pfmam.com

INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
4581X0DZ8 4,190,000.00 AAA Aaa 9/15/2021 9/23/2021 4,186,899.40 0.52 465.56 3,987,866.024,188,987.21 6,060,000.00 6,052,878.90 2,114.80 5,843,841.02Security Type Sub-Total 0.46 6,058,788.94 Negotiable CD

TORONTO DOMINION BANK NY CERT
DEPOS
DTD 10/31/2022 5.470% 10/25/2024
89115B6F2 2,800,000.00 A A1 10/27/2022 10/31/2022 2,800,000.00 5.44 142,523.89 2,799,109.882,800,000.00

COOPERAT RABOBANK UA/NY CERT
DEPOS
DTD 07/20/2023 5.080% 07/17/2026
21684LGS5 4,200,000.00 A+ Aa2 7/17/2023 7/20/2023 4,200,000.00 5.08 42,079.33 4,111,758.004,200,000.00 7,000,000.00 7,000,000.00 184,603.22 6,910,867.88Security Type Sub-Total 5.23 7,000,000.00 Municipal

CA ST TXBL GO BONDS
DTD 10/24/2019 2.400% 10/01/2023
13063DRJ9 2,192,500.00 AA- Aa2 10/16/2019 10/24/2019 2,236,371.92 1.87 26,310.00 2,192,500.002,192,500.00

MD ST TXBL GO BONDS
DTD 08/05/2020 0.510% 08/01/2024
574193TQ1 647,500.00 AAA Aaa 7/23/2020 8/5/2020 647,318.70 0.52 550.38 621,768.35647,462.05

SAN DIEGO CCD, CA TXBL GO BONDS
DTD 10/16/2019 2.046% 08/01/2024
797272QP9 725,000.00 AAA Aa1 9/18/2019 10/16/2019 725,000.00 2.05 2,472.25 703,054.25725,000.00

CA ST UNIV TXBL REV BONDS
DTD 09/17/2020 0.685% 11/01/2024
13077DNC2 625,000.00 AA- Aa2 8/27/2020 9/17/2020 625,000.00 0.69 1,783.85 592,275.00625,000.00

CA ST DEPT WTR RES WTR SYS TXBL

REV BNDS
DTD 08/06/2020 0.560% 12/01/2024
13067WRB0 77,500.00 AAA Aa1 7/30/2020 8/6/2020 77,500.00 0.56 144.67 73,106.5377,500.00

UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 460,000.00 AA Aa2 7/14/2020 7/16/2020 461,665.20 0.81 1,534.46 429,115.60460,539.70

UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 300,000.00 AA Aa2 7/10/2020 7/16/2020 300,000.00 0.88 1,000.73 279,858.00300,000.00

FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 1,050,000.00 AA Aa3 9/3/2020 9/16/2020 1,057,423.50 1.11 3,302.25 975,859.501,052,712.19

ATTACHMENT A
34 53
© PFM Asset Management LLC pfmam.com

FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 825,000.00 AA Aa3 9/3/2020 9/16/2020 825,000.00 1.26 2,594.63 766,746.75825,000.00

LOS ANGELES CCD, CA TXBL GO
BONDS
DTD 11/10/2020 0.773% 08/01/2025
54438CYK2 965,000.00 AA+ Aaa 10/30/2020 11/10/2020 965,000.00 0.77 1,243.24 891,804.75965,000.00

NJ TURNPIKE AUTHORITY TXBL REV
BONDS
DTD 02/04/2021 1.047% 01/01/2026
646140DP5 557,500.00 AA- A1 1/22/2021 2/4/2021 557,500.00 1.05 1,459.26 509,142.45557,500.00 8,425,000.00 8,477,779.32 42,395.72 8,035,231.18Security Type Sub-Total 1.27 8,428,213.94 Federal Agency

FANNIE MAE NOTES
DTD 11/25/2020 0.250% 11/27/2023
3135G06H1 7,500.00 AA+ Aaa 1/25/2021 1/26/2021 7,511.40 0.20 6.46 7,440.327,500.63

FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
3137EAFA2 22,500.00 AA+ Aaa 12/2/2020 12/4/2020 22,477.72 0.28 18.28 22,298.4722,498.70

FEDERAL HOME LOAN BANKS NOTES
DTD 12/09/2013 3.375% 12/08/2023
3130A0F70 12,500.00 AA+ Aaa 1/30/2019 1/31/2019 12,873.75 2.71 132.42 12,450.1012,514.34

FEDERAL FARM CREDIT BANK NOTES
DTD 04/08/2020 0.875% 04/08/2024
3133ELVX9 750,000.00 AA+ Aaa 4/7/2020 4/8/2020 750,000.00 0.88 3,153.65 732,177.75750,000.00

FANNIE MAE NOTES
DTD 01/10/2020 1.625% 01/07/2025
3135G0X24 1,530,000.00 AA+ Aaa 3/4/2020 3/5/2020 1,586,824.20 0.84 5,801.25 1,460,124.901,544,904.71

FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
3130AJHU6 2,460,000.00 AA+ Aaa 4/15/2020 4/16/2020 2,447,798.40 0.60 5,705.83 2,288,963.582,456,247.21

FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 10,880,000.00 AA+ Aaa 6/2/2020 6/3/2020 10,949,305.60 0.49 30,033.33 10,131,521.2810,902,104.76

FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 4,150,000.00 AA+ Aaa 10/2/2020 10/5/2020 4,167,720.50 0.41 5,994.44 3,831,856.854,156,454.14

FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 1,002,500.00 AA+ Aaa 6/17/2020 6/19/2020 1,000,424.83 0.54 1,448.06 925,647.351,001,788.94

FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 1,490,000.00 AA+ Aaa 9/17/2020 9/18/2020 1,495,304.40 0.42 2,152.22 1,375,775.111,491,913.01

ATTACHMENT A
35 54
© PFM Asset Management LLC pfmam.com

FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
3137EAEU9 2,310,000.00 AA+ Aaa 7/21/2020 7/23/2020 2,298,496.20 0.48 1,684.38 2,120,159.582,305,843.75

FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 920,000.00 AA+ Aaa 8/25/2020 8/27/2020 915,694.40 0.47 345.00 841,087.92918,361.79

FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 3,075,000.00 AA+ Aaa 10/22/2020 10/23/2020 3,057,780.00 0.49 1,153.13 2,811,244.953,068,236.74

FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 3,545,000.00 AA+ Aaa 9/23/2020 9/25/2020 3,534,329.55 0.44 295.42 3,232,816.673,540,770.43

FEDERAL FARM CREDIT BANK
(CALLABLE)
DTD 09/29/2020 0.530% 09/29/2025
3133EMBH4 2,265,000.00 AA+ Aaa 10/7/2020 10/9/2020 2,261,036.25 0.57 66.69 2,066,062.792,263,408.83

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 1,955,000.00 AA+ Aaa 11/19/2020 11/24/2020 1,954,257.10 0.51 3,910.00 1,778,330.561,954,684.61

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 6,190,000.00 AA+ Aaa 12/3/2020 12/4/2020 6,188,885.80 0.50 12,380.00 5,630,622.086,189,524.34

US TREASURY N/B NOTES
DTD 08/31/2022 3.125% 08/31/2029
91282CFJ5 2,120,000.00 AA+ Aaa 2/27/2023 2/28/2023 2,000,998.44 4.12 5,642.17 1,953,712.502,011,766.68

US TREASURY N/B NOTES
DTD 08/15/2022 2.750% 08/15/2032
91282CFF3 2,195,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,991,190.82 3.93 7,709.34 1,900,732.812,003,869.92

FEDERAL HOME LOAN BANK NOTES
DTD 08/25/2022 3.375% 09/10/2032
3130AT4C8 875,000.00 AA+ Aaa 11/1/2022 11/3/2022 779,616.25 4.77 1,722.66 771,563.63788,415.20 47,755,000.00 47,422,525.61 89,354.73 43,894,589.20Security Type Sub-Total 0.89 47,390,808.73 Corporate

BANK OF AMERICA CORP NOTES
(CALLED, OMD
DTD 10/21/2020 0.810% 10/24/2023
06051GJH3 7,500.00 A- A1 10/16/2020 10/21/2020 7,500.00 0.81 26.49 7,453.467,500.00

US BANK NA CINCINNATI CORP

NOTES (CALLAB
DTD 02/04/2019 3.375% 02/05/2024
91159HHV5 1,062,500.00 A A3 4/2/2019 4/4/2019 1,085,598.75 2.89 5,578.13 1,051,870.751,063,776.61

MERCK & CO INC (CALLABLE) CORP
NOTES
DTD 03/07/2019 2.900% 03/07/2024
58933YAU9 2,312,500.00 A+ A1 11/19/2021 11/23/2021 2,419,591.87 0.85 4,470.83 2,284,303.692,329,640.01

ATTACHMENT A
36 55
© PFM Asset Management LLC pfmam.com

PFIZER INC CORP NOTES
DTD 03/11/2019 2.950% 03/15/2024
717081ES8 3,200,000.00 A+ A1 6/3/2019 6/5/2019 3,281,376.00 2.38 4,195.56 3,159,036.803,206,496.80

MASTERCARD INC CORP NOTES
DTD 03/31/2014 3.375% 04/01/2024
57636QAB0 2,125,000.00 A+ Aa3 4/2/2019 4/4/2019 2,194,381.25 2.67 35,859.38 2,097,313.382,131,960.95 AMAZON.COM INC CORPORATE
NOTES
DTD 05/12/2021 0.450% 05/12/2024
023135BW5 1,542,500.00 AA A1 5/10/2021 5/12/2021 1,540,247.95 0.50 2,680.09 1,494,556.021,542,039.73

WALMART INC CORPORATE NOTES
DTD 04/23/2019 2.850% 07/08/2024
931142EL3 4,100,000.00 AA Aa2 5/12/2020 5/14/2020 4,418,693.00 0.94 26,940.42 4,016,286.204,153,830.38

US BANCORP NOTES (CALLABLE)
DTD 07/29/2019 2.400% 07/30/2024
91159HHX1 1,650,000.00 A A3 8/1/2019 8/5/2019 1,651,369.50 2.38 6,710.00 1,603,616.851,650,207.45

JOHN DEERE CAPITAL CORP

CORPORATE NOTES
DTD 01/10/2022 1.250% 01/10/2025
24422EVY2 212,500.00 A A2 3/8/2022 3/10/2022 207,142.87 2.17 597.66 201,707.55210,087.48

MICROSOFT CORP (CALLABLE)
NOTES
DTD 02/12/2015 2.700% 02/12/2025
594918BB9 2,675,000.00 AAA Aaa 3/4/2021 3/8/2021 2,863,881.75 0.87 9,830.63 2,584,416.482,732,296.47

TOYOTA MOTOR CREDIT CORP CORP
NOTES
DTD 02/13/2020 1.800% 02/13/2025
89236TGT6 292,500.00 A+ A1 5/20/2020 5/26/2020 295,357.73 1.58 702.00 277,833.76293,330.47

TOYOTA MOTOR CREDIT CORP CORP
NOTES
DTD 02/13/2020 1.800% 02/13/2025
89236TGT6 1,595,000.00 A+ A1 5/21/2020 5/26/2020 1,616,692.00 1.50 3,828.00 1,515,025.101,601,303.77

NOVARTIS CAPITAL CORP
DTD 02/14/2020 1.750% 02/14/2025
66989HAP3 3,680,000.00 AA- A1 5/8/2020 5/12/2020 3,809,756.80 0.99 8,407.78 3,502,002.083,715,781.88 AMAZON.COM INC CORPORATE
NOTES
DTD 04/13/2022 3.000% 04/13/2025
023135CE4 2,567,500.00 AA A1 4/11/2022 4/13/2022 2,563,417.67 3.06 35,945.00 2,479,288.402,565,414.14 3M COMPANY (CALLABLE)

CORPORATE NOTES
DTD 03/27/2020 2.650% 04/15/2025
88579YBM2 1,450,000.00 BBB+ A2 4/21/2022 4/25/2022 1,422,595.00 3.32 17,718.19 1,378,030.701,435,818.04

CITIGROUP INC (CALLABLE)

CORPORATE NOTES
DTD 05/04/2021 0.981% 05/01/2025
172967MX6 1,355,000.00 BBB+ A3 4/28/2021 5/4/2021 1,358,590.75 0.91 5,538.56 1,308,617.001,355,699.75

ATTACHMENT A
37 56
© PFM Asset Management LLC pfmam.com

GOLDMAN SACHS GROUP INC

CORPORATE NOTES
DTD 05/22/2015 3.750% 05/22/2025
38148LAE6 1,817,500.00 BBB+ A2 2/12/2021 2/17/2021 2,030,474.65 0.94 24,422.66 1,752,237.211,891,590.77

HONEYWELL INTL CORP NOTES
(CALLABLE)
DTD 05/18/2020 1.350% 06/01/2025
438516CB0 2,000,000.00 A A2 9/3/2021 9/8/2021 2,039,160.00 0.82 9,000.00 1,872,708.002,017,005.62

JPMORGAN CHASE & CO CORP

NOTES (CALLABLE
DTD 08/10/2021 0.768% 08/09/2025
46647PCM6 1,680,000.00 A- A1 8/3/2021 8/10/2021 1,680,000.00 0.77 1,863.68 1,600,282.321,680,000.00

STATE STREET CORP (CALLABLE)

CORPORATE N
DTD 02/07/2022 1.746% 02/06/2026
857477BR3 437,500.00 A A1 2/2/2022 2/7/2022 437,500.00 1.75 1,167.03 411,619.69437,500.00

STATE STREET CORP NOTES
(CALLABLE)
DTD 10/29/2020 2.901% 03/30/2026
857477BM4 3,750,000.00 A A1 8/8/2022 8/10/2022 3,639,037.50 3.78 302.19 3,584,621.253,673,880.39

BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 03/22/2022 3.384% 04/02/2026
06051GKM0 1,875,000.00 A- A1 3/17/2022 3/22/2022 1,875,000.00 3.38 31,548.75 1,797,223.131,875,000.00

PACCAR FINANCIAL CORP

CORPORATE NOTES
DTD 08/10/2023 5.050% 08/10/2026
69371RS56 3,800,000.00 A+ A1 8/10/2023 8/14/2023 3,815,846.00 4.90 27,185.83 3,780,525.003,815,149.47

BANK OF AMERICA NA CORPORATE
NOTES
DTD 08/18/2023 5.526% 08/18/2026
06428CAA2 1,885,000.00 A+ Aa1 8/14/2023 8/18/2023 1,885,000.00 5.53 12,441.94 1,875,414.781,885,000.00

TARGET CORP CORP NOTES
(CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 2,140,000.00 A A2 1/27/2022 1/31/2022 2,138,694.60 1.96 8,809.67 1,930,874.922,139,133.10

MICROSOFT CORP CORP NOTES
(CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
594918BY9 2,325,000.00 AAA Aaa 1/27/2023 1/31/2023 2,259,644.25 4.07 11,721.88 2,206,522.652,270,470.05

TRUIST FINANCIAL CORP NOTES
(CALLABLE)
DTD 08/03/2020 1.125% 08/03/2027
89788MAC6 2,520,000.00 A- A3 8/5/2022 8/9/2022 2,213,719.20 3.83 4,567.50 2,097,453.962,284,062.81

INTEL CORP NOTES (CALLABLE)
DTD 08/05/2022 3.750% 08/05/2027
458140BY5 2,165,000.00 A A2 8/10/2022 8/12/2022 2,165,476.30 3.75 12,629.17 2,042,932.972,165,365.75

ATTACHMENT A
38 57
© PFM Asset Management LLC pfmam.com

HOME DEPOT INC CORP NOTES
(CALLABLE)
DTD 09/14/2017 2.800% 09/14/2027
437076BT8 3,450,000.00 A A2 1/25/2023 1/27/2023 3,255,385.50 4.15 4,561.67 3,159,516.903,283,812.34

JPMORGAN CHASE CORP NOTES
(CALLABLE)
DTD 02/24/2022 2.947% 02/24/2028
46647PCW4 1,605,000.00 A- A1 9/14/2023 9/18/2023 1,467,563.85 5.13 4,861.32 1,454,914.851,468,666.73

HERSHEY COMPANY CORP NOTES

CALLABLE
DTD 05/04/2023 4.250% 05/04/2028
427866BH0 2,785,000.00 A A1 5/9/2023 5/11/2023 2,801,821.40 4.11 48,331.35 2,692,100.762,800,477.57

APPLE INC CORP NOTES CALLABLE
DTD 05/10/2023 4.000% 05/10/2028
037833ET3 4,675,000.00 AA+ Aaa 5/9/2023 5/11/2023 4,673,083.25 4.01 73,241.67 4,488,995.784,673,233.36

APPLE INC CORP NOTES CALLABLE
DTD 05/10/2023 4.000% 05/10/2028
037833ET3 1,370,000.00 AA+ Aaa 5/12/2023 5/16/2023 1,380,946.30 3.82 21,463.33 1,315,491.811,380,102.87

JOHN DEERE CAPITAL CORP

CORPORATE NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 1,420,000.00 A A2 7/11/2023 7/14/2023 1,417,884.20 4.98 15,034.25 1,398,842.001,417,975.69

JOHN DEERE CAPITAL CORP

CORPORATE NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 600,000.00 A A2 7/13/2023 7/14/2023 608,160.00 4.64 6,352.50 591,060.00607,807.16

TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 09/11/2023 5.250% 09/11/2028
89236TLB9 1,400,000.00 A+ A1 9/6/2023 9/11/2023 1,397,564.00 5.29 4,083.33 1,391,780.601,397,540.50

CITIBANK NA CORP NOTES
(CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
17325FBB3 4,935,000.00 A+ Aa3 9/26/2023 9/29/2023 4,935,000.00 5.80 1,590.99 4,934,457.154,935,000.00 78,462,500.00 78,853,153.89 494,209.43 75,340,933.95Security Type Sub-Total 3.07 78,093,958.11 Agency CMBS

FANNIEMAE-ACES
DTD 04/01/2014 3.346% 03/01/2024
3136AJB54 402,902.63 AA+ Aaa 12/13/2019 12/18/2019 422,481.19 2.14 1,123.43 398,337.69404,841.35 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 2,865,000.00 AA+ Aaa 5/19/2023 5/24/2023 2,776,811.72 4.31 7,990.96 2,713,477.682,785,932.23 FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
3137BXQY1 4,477,651.00 AA+ Aaa 8/16/2023 8/18/2023 4,223,684.23 4.98 12,029.96 4,201,588.144,232,339.95

ATTACHMENT A
39 58
© PFM Asset Management LLC pfmam.com

FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 2,540,000.00 AA+ Aaa 8/16/2023 8/18/2023 2,394,842.97 4.97 6,864.35 2,378,619.682,399,674.22

FHLMC MULTIFAMILY STRUCTURED P
DTD 08/01/2017 3.117% 06/01/2027
3137F2LJ3 3,941,658.00 AA+ Aaa 8/17/2023 8/22/2023 3,686,066.11 5.01 10,238.46 3,669,463.973,693,479.94 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
3137HAMR4 4,075,000.00 AA+ Aaa 9/20/2023 9/28/2023 4,011,051.03 5.19 16,300.00 3,984,183.084,011,159.15 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
3137HAMG8 2,100,000.00 AA+ Aaa 9/7/2023 9/14/2023 2,068,594.50 5.01 8,137.50 2,038,702.702,068,883.57 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 4,200,000.00 AA+ Aaa 7/13/2023 7/20/2023 4,241,949.60 4.59 16,866.50 4,122,738.824,240,227.26 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 3,416,693.43 AA+ Aaa 7/19/2023 7/27/2023 3,416,608.01 4.78 13,601.29 3,352,951.493,416,611.19 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
3136BQDE6 4,250,000.00 AA+ Aaa 7/18/2023 7/31/2023 4,177,949.22 4.58 14,839.58 4,060,739.894,180,435.11 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 4,200,000.00 AA+ Aaa 9/7/2023 9/14/2023 4,137,869.40 4.99 16,275.00 4,080,595.724,138,409.27 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 2,380,000.00 AA+ Aaa 9/19/2023 9/28/2023 2,379,988.10 5.27 10,456.13 2,373,686.812,379,990.18 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 4,200,000.00 AA+ Aaa 9/20/2023 9/28/2023 4,149,797.40 5.07 16,800.00 4,123,924.694,149,875.40 43,048,905.06 42,087,693.48 151,523.16 41,499,010.36Security Type Sub-Total 4.86 42,101,858.82 ABS
CARMX 2020-1 A3
DTD 01/22/2020 1.890% 12/16/2024
14315XAC2 10,562.92 AAA NR 1/14/2020 1/22/2020 10,560.85 1.89 8.87 10,549.3310,562.41 HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
43813GAC5 201,086.29 NR Aaa 2/17/2021 2/24/2021 201,082.61 0.27 15.08 197,636.88201,084.91 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 248,720.31 AAA NR 4/20/2021 4/28/2021 248,694.15 0.38 42.01 243,812.09248,708.63 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
14316NAC3 161,491.49 AAA NR 1/20/2021 1/27/2021 161,459.58 0.34 24.40 157,471.13161,477.07 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
89239BAC5 743,105.72 AAA Aaa 9/21/2021 9/27/2021 743,046.49 0.43 142.02 718,634.73743,074.16

ATTACHMENT A
40 59
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 451,905.90 AAA NR 4/13/2021 4/21/2021 451,808.51 0.52 104.44 438,430.61451,857.84 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 424,149.32 AAA NR 11/9/2021 11/17/2021 424,054.64 0.75 139.50 409,884.37424,094.07 HAROT 2022-2 A3
DTD 08/24/2022 3.730% 07/20/2026
43815PAC3 310,000.00 AAA NR 8/15/2022 8/24/2022 309,981.52 3.73 417.55 301,497.79309,986.74 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
254683CP8 797,500.00 AAA Aaa 9/20/2021 9/27/2021 797,329.25 0.58 205.58 758,629.37797,398.34 KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
500945AC4 1,085,000.00 NR Aaa 7/18/2023 7/26/2023 1,084,725.93 5.29 2,546.13 1,073,702.001,084,737.15 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
06428AAC2 1,775,000.00 NR Aaa 7/25/2023 7/31/2023 1,774,932.73 5.53 4,362.56 1,770,528.071,774,935.24 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 2,640,000.00 AAA NR 8/15/2023 8/22/2023 2,639,455.63 5.42 5,157.53 2,631,733.902,639,468.90 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
89231FAD2 825,000.00 AAA NR 8/8/2023 8/15/2023 824,813.39 5.17 1,892.00 818,440.51824,818.53 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
90291VAC4 3,375,000.00 AAA Aaa 9/7/2023 9/15/2023 3,374,409.38 5.58 8,370.00 3,367,555.093,374,405.24 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 2,880,000.00 AAA Aaa 8/15/2023 8/23/2023 2,879,821.44 5.53 7,078.40 2,870,092.222,879,825.27 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 3,380,000.00 AAA NR 9/7/2023 9/15/2023 3,379,063.06 5.17 7,751.47 3,361,500.253,379,062.60 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 3,460,000.00 AAA NR 9/12/2023 9/19/2023 3,459,845.34 5.23 6,031.93 3,448,222.163,459,838.41 22,768,521.95 22,765,084.50 44,289.47 22,578,320.50Security Type Sub-Total 4.72 22,765,335.51 447,031,927.01 435,591,448.20 2,017,947.29 415,914,169.68Managed Account Sub Total Securities Sub Total
Accrued Interest
$447,031,927.01 $435,591,448.20 $2,017,947.29 $415,914,169.68 $2,017,947.29
436,693,444.77
$436,693,444.77

2.99 2.99%
Total Investments $417,932,116.97

ATTACHMENT A
41 60
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Dat
e
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
BUY
7/7/2023 7/10/2023 3,450,000.00 91282CEV9 US TREASURY N/B NOTES 3.25% 6/30/2029 3,270,169.93 4.26% 7/7/2023 7/10/2023 2,955,000.00 912810FP8 US TREASURY NOTES 5.37% 2/15/2031 3,264,947.20 4.09% 7/7/2023 7/10/2023 3,225,000.00 91282CFV8 US TREASURY N/B NOTES 4.12% 11/15/2032 3,262,250.73 4.06% 7/11/2023 7/12/2023 3,000,000.00 91282CAV3 US TREASURY NOTES 0.87% 11/15/2030 2,409,527.86 4.02% 7/11/2023 7/14/2023 1,420,000.00 24422EXB0 JOHN DEERE CAPITAL CORP CORPORATE NOTES 4.95% 7/14/2028 1,417,884.20 4.98% 7/12/2023 7/12/2023 2,830,000.00 91282CHF1 US TREASURY N/B NOTES 3.75% 5/31/2030 2,795,638.05 4.03% 7/13/2023 7/14/2023 600,000.00 24422EXB0 JOHN DEERE CAPITAL CORP CORPORATE NOTES 4.95% 7/14/2028 608,160.00 4.64% 7/13/2023 7/20/2023 4,200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 4,252,631.72 4.59% 7/17/2023 7/20/2023 4,200,000.00 21684LGS5 COOPERAT RABOBANK UA/NY CERT DEPOS 5.08% 7/17/2026 4,200,000.00 5.08% 7/18/2023 7/21/2023 4,202,000.00 91282CCN9 US TREASURY N/B NOTES 0.12% 7/31/2023 4,198,900.37 4.94% 7/18/2023 7/26/2023 1,085,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 1,084,725.93 5.29% 7/18/2023 7/31/2023 4,250,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 4,192,788.80 4.58% 7/18/2023 7/21/2023 1,085,000.00 912796Y29 US TREASURY BILL 0.00% 7/27/2023 1,084,102.61 4.97% 7/19/2023 7/21/2023 3,440,000.00 912796Y29 US TREASURY BILL 0.00% 7/27/2023 3,437,132.76 5.01% 7/19/2023 7/27/2023 3,420,000.00 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 3,431,713.69 4.78% 7/25/2023 7/31/2023 1,775,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 1,774,932.73 5.53% 8/8/2023 8/15/2023 825,000.00 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 824,813.39 5.17%

ATTACHMENT A
42 61
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Dat
e
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
BUY
8/10/2023 8/14/2023 3,800,000.00 69371RS56 PACCAR FINANCIAL CORP CORPORATE NOTES 5.05% 8/10/2026 3,817,978.22 4.90% 8/14/2023 8/18/2023 1,885,000.00 06428CAA2 BANK OF AMERICA NA CORPORATE NOTES 5.52% 8/18/2026 1,885,000.00 5.53% 8/15/2023 8/22/2023 2,640,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 2,639,455.63 5.42% 8/15/2023 8/23/2023 2,880,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 2,879,821.44 5.53% 8/16/2023 8/18/2023 4,477,651.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 4,230,501.20 4.98% 8/16/2023 8/18/2023 2,540,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 2,398,732.77 4.97% 8/17/2023 8/17/2023 5,525,000.00 912797GH4 US TREASURY BILL 0.00% 8/22/2023 5,521,001.28 5.21% 8/17/2023 8/22/2023 3,941,658.00 3137F2LJ3 FHLMC MULTIFAMILY STRUCTURED P 3.11% 6/1/2027 3,693,233.03 5.01% 8/30/2023 8/31/2023 1,030,000.00 91282CHX2 US TREASURY N/B NOTES 4.37% 8/31/2028 1,034,586.72 4.28% 9/6/2023 9/11/2023 1,400,000.00 89236TLB9 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES 5.25% 9/11/2028 1,397,564.00 5.29% 9/7/2023 9/14/2023 2,100,000.00 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 2,072,120.75 5.01% 9/7/2023 9/14/2023 4,200,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 4,144,921.90 4.99% 9/7/2023 9/15/2023 3,380,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 3,379,063.06 5.17% 9/7/2023 9/15/2023 3,375,000.00 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 3,374,409.38 5.58% 9/12/2023 9/19/2023 3,460,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 3,459,845.34 5.23% 9/14/2023 9/18/2023 1,605,000.00 46647PCW4 JPMORGAN CHASE CORP NOTES (CALLABLE) 2.94% 2/24/2028 1,470,717.14 5.13% 9/19/2023 9/28/2023 2,380,000.00 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 2,389,398.62 5.27%

ATTACHMENT A
43 62
© PFM Asset Management LLC pfmam.com

INTEREST
7/1/2023 7/1/2023 1,875,000.00 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% 7/1/2025 11,793.75 7/1/2023 7/1/2023 557,500.00 646140DP5 NJ TURNPIKE AUTHORITY TXBL REV BONDS 1.04% 1/1/2026 2,918.51 7/1/2023 7/25/2023 473,254.03 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,319.59 7/1/2023 7/25/2023 2,865,000.00 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,990.96 7/3/2023 7/3/2023 MONEY0002 MONEY MARKET FUND 4,750.83
7/7/2023 7/7/2023 4,380,000.00 3135G0X24 FANNIE MAE NOTES 1.62% 1/7/2025 35,587.50 7/8/2023 7/8/2023 4,100,000.00 931142EL3 WALMART INC CORPORATE NOTES 2.85% 7/8/2024 58,425.00 7/10/2023 7/10/2023 2,357,500.00 24422EVY2 JOHN DEERE CAPITAL CORP CORPORATE NOTES 1.25% 1/10/2025 14,734.38 7/15/2023 7/15/2023 92,003.12 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 144.90 7/15/2023 7/15/2023 338,857.62 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 107.30 7/15/2023 7/15/2023 211,566.53 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 59.94

ATTACHMENT A
44 63
© PFM Asset Management LLC pfmam.com

INTEREST
7/15/2023 7/15/2023 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 7/15/2023 7/15/2023 2,140,000.00 87612EBM7 TARGET CORP CORP NOTES (CALLABLE) 1.95% 1/15/2027 20,865.00 7/15/2023 7/15/2023 570,422.02 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 247.18 7/15/2023 7/15/2023 913,559.82 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 327.36 7/15/2023 7/15/2023 3,244.82 65479CAD0 NAROT 2020-B A3 0.55% 7/15/2024 1.49 7/15/2023 7/15/2023 495,000.00 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 305.25 7/18/2023 7/18/2023 310,000.00 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 963.58 7/21/2023 7/21/2023 292,122.23 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 65.73 7/21/2023 7/21/2023 2,310,000.00 3137EAEU9 FREDDIE MAC NOTES 0.37% 7/21/2025 4,331.25 7/30/2023 7/30/2023 1,650,000.00 91159HHX1 US BANCORP NOTES (CALLABLE) 2.40% 7/30/2024 19,800.00 7/31/2023 7/31/2023 2,375,000.00 91282CCR0 US TREASURY N/B NOTES 1.00% 7/31/2028 11,875.00 7/31/2023 7/31/2023 1,707,500.00 9128286A3 US TREASURY NOTES 2.62% 1/31/2026 22,410.94 7/31/2023 7/31/2023 17,305,000.00 91282CBH3 US TREASURY NOTES 0.37% 1/31/2026 32,446.88 7/31/2023 7/31/2023 5,000,000.00 91282CFB2 US TREASURY N/B NOTES 2.75% 7/31/2027 68,750.00 7/31/2023 7/31/2023 5,040,000.00 91282CBJ9 US TREASURY NOTES 0.75% 1/31/2028 18,900.00 7/31/2023 7/31/2023 1,250,000.00 9128282N9 US TREASURY NOTES 2.12% 7/31/2024 13,281.25 8/1/2023 8/1/2023 647,500.00 574193TQ1 MD ST TXBL GO BONDS 0.51% 8/1/2024 1,651.13

ATTACHMENT A
45 64
© PFM Asset Management LLC pfmam.com

INTEREST
8/1/2023 8/1/2023 725,000.00 797272QP9 SAN DIEGO CCD, CA TXBL GO BONDS 2.04% 8/1/2024 7,416.75 8/1/2023 8/1/2023 MONEY0002 MONEY MARKET FUND 5,356.92
8/1/2023 8/1/2023 965,000.00 54438CYK2 LOS ANGELES CCD, CA TXBL GO BONDS 0.77% 8/1/2025 3,729.73 8/1/2023 8/25/2023 4,200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.50 8/1/2023 8/25/2023 4,250,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 14,839.58 8/1/2023 8/25/2023 472,095.19 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,316.36 8/1/2023 8/25/2023 3,420,000.00 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,614.45 8/1/2023 8/25/2023 2,865,000.00 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,990.96 8/3/2023 8/3/2023 2,520,000.00 89788MAC6 TRUIST FINANCIAL CORP NOTES (CALLABLE) 1.12% 8/3/2027 14,175.00 8/5/2023 8/5/2023 2,165,000.00 458140BY5 INTEL CORP NOTES (CALLABLE) 3.75% 8/5/2027 40,593.75 8/5/2023 8/5/2023 1,062,500.00 91159HHV5 US BANK NA CINCINNATI CORP NOTES (CALLAB 3.37% 2/5/2024 17,929.69 8/6/2023 8/6/2023 437,500.00 857477BR3 STATE STREET CORP (CALLABLE) CORPORATE N 1.74% 2/6/2026 3,819.38 8/6/2023 8/6/2023 2,325,000.00 594918BY9 MICROSOFT CORP CORP NOTES (CALLABLE) 3.30% 2/6/2027 38,362.50 8/9/2023 8/9/2023 1,680,000.00 46647PCM6 JPMORGAN CHASE & CO CORP NOTES (CALLABLE 0.76% 8/9/2025 6,451.20 8/12/2023 8/12/2023 2,675,000.00 594918BB9 MICROSOFT CORP (CALLABLE) NOTES 2.70% 2/12/2025 36,112.50 8/13/2023 8/13/2023 1,887,500.00 89236TGT6 TOYOTA MOTOR CREDIT CORP CORP NOTES 1.80% 2/13/2025 16,987.50 8/14/2023 8/14/2023 3,680,000.00 66989HAP3 NOVARTIS CAPITAL CORP 1.75% 2/14/2025 32,200.00

ATTACHMENT A
46 65
© PFM Asset Management LLC pfmam.com

INTEREST
8/15/2023 8/15/2023 5,672,500.00 91282CAE1 US TREASURY NOTES 0.62% 8/15/2030 17,726.56 8/15/2023 8/15/2023 853,671.33 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 305.90 8/15/2023 8/15/2023 530,265.84 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 229.78 8/15/2023 8/15/2023 1,085,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 3,023.53 8/15/2023 8/15/2023 2,065,000.00 91282CGM7 US TREASURY N/B NOTES 3.50% 2/15/2033 36,137.50 8/15/2023 8/15/2023 2,245,000.00 912828V98 US TREASURY NOTES 2.25% 2/15/2027 25,256.25 8/15/2023 8/15/2023 2,365,000.00 91282CDY4 US TREASURY N/B NOTES 1.87% 2/15/2032 22,171.88 8/15/2023 8/15/2023 2,195,000.00 91282CFF3 US TREASURY N/B NOTES 2.75% 8/15/2032 30,181.25 8/15/2023 8/15/2023 1,875,000.00 912810FG8 US TREASURY N/B NOTES 5.25% 2/15/2029 49,218.75 8/15/2023 8/15/2023 64,069.94 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 100.91 8/15/2023 8/15/2023 542,500.00 912828Z94 US TREASURY NOTES 1.50% 2/15/2030 4,068.75 8/15/2023 8/15/2023 307,599.20 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 97.41 8/15/2023 8/15/2023 194,753.44 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 55.18 8/15/2023 8/15/2023 1,775,000.00 912810FJ2 US TREASURY N/B 6.12% 8/15/2029 54,359.38 8/15/2023 8/15/2023 2,730,000.00 9128282R0 US TREASURY NOTES 2.25% 8/15/2027 30,712.50 8/15/2023 8/15/2023 484,032.59 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 298.49 8/15/2023 8/15/2023 565,000.00 91282CBL4 US TREASURY NOTES 1.12% 2/15/2031 3,178.13

ATTACHMENT A
47 66
© PFM Asset Management LLC pfmam.com

INTEREST
8/15/2023 8/15/2023 520,000.00 912828YB0 US TREASURY NOTES 1.62% 8/15/2029 4,225.00 8/15/2023 8/15/2023 2,665,000.00 9128286B1 US TREASURY NOTES 2.62% 2/15/2029 34,978.13 8/15/2023 8/15/2023 2,715,000.00 912810FE3 US TREASURY N/B 5.50% 8/15/2028 74,662.50 8/15/2023 8/15/2023 1,775,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 4,089.90 8/15/2023 8/15/2023 3,027,500.00 91282CCS8 US TREASURY N/B NOTES 1.25% 8/15/2031 18,921.88 8/15/2023 8/15/2023 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 8/15/2023 8/15/2023 6,575,000.00 912810FP8 US TREASURY NOTES 5.37% 2/15/2031 176,703.13 8/15/2023 8/15/2023 3,010,000.00 91282CCT6 US TREASURY N/B NOTES 0.37% 8/15/2024 5,643.75 8/18/2023 8/18/2023 310,000.00 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 963.58 8/21/2023 8/21/2023 260,553.25 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 58.62 8/25/2023 8/25/2023 3,995,000.00 3135G05X7 FANNIE MAE NOTES 0.37% 8/25/2025 7,490.63 8/31/2023 8/31/2023 9,500.00 9128286G0 US TREASURY NOTES 2.37% 2/29/2024 112.81 8/31/2023 8/31/2023 7,137,500.00 9128282U3 US TREASURY NOTES 1.87% 8/31/2024 66,914.06 8/31/2023 8/31/2023 2,120,000.00 91282CFJ5 US TREASURY N/B NOTES 3.12% 8/31/2029 33,125.00 8/31/2023 8/31/2023 2,010,000.00 91282CGQ8 US TREASURY N/B NOTES 4.00% 2/28/2030 40,200.00 8/31/2023 8/31/2023 4,472,500.00 912828ZC7 US TREASURY NOTES 1.12% 2/28/2025 25,157.81 8/31/2023 8/31/2023 12,670,000.00 91282CBQ3 US TREASURY NOTES 0.50% 2/28/2026 31,675.00

ATTACHMENT A
48 67
© PFM Asset Management LLC pfmam.com

INTEREST
8/31/2023 8/31/2023 8,820,000.00 91282CAJ0 US TREASURY NOTES 0.25% 8/31/2025 11,025.00 8/31/2023 8/31/2023 5,030,000.00 91282CFH9 US TREASURY N/B NOTES 3.12% 8/31/2027 78,593.75 8/31/2023 8/31/2023 4,825,000.00 91282CGP0 US TREASURY N/B NOTES 4.00% 2/29/2028 96,500.00 9/1/2023 9/1/2023 MONEY0002 MONEY MARKET FUND 3,338.49
9/1/2023 9/25/2023 4,477,651.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.96 9/1/2023 9/25/2023 403,862.05 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,126.10 9/1/2023 9/25/2023 2,865,000.00 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,990.96 9/1/2023 9/25/2023 4,200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.50 9/1/2023 9/25/2023 4,250,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 14,839.58 9/1/2023 9/25/2023 3,418,351.12 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,607.89 9/1/2023 9/25/2023 2,540,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 6,864.35 9/1/2023 9/25/2023 3,941,658.00 3137F2LJ3 FHLMC MULTIFAMILY STRUCTURED P 3.11% 6/1/2027 10,238.46 9/7/2023 9/7/2023 2,312,500.00 58933YAU9 MERCK & CO INC (CALLABLE) CORP NOTES 2.90% 3/7/2024 33,531.25 9/10/2023 9/10/2023 875,000.00 3130AT4C8 FEDERAL HOME LOAN BANK NOTES 3.37% 9/10/2032 14,765.63 9/14/2023 9/14/2023 3,450,000.00 437076BT8 HOME DEPOT INC CORP NOTES (CALLABLE) 2.80% 9/14/2027 48,300.00 9/15/2023 9/15/2023 3,200,000.00 717081ES8 PFIZER INC CORP NOTES 2.95% 3/15/2024 47,200.00 9/15/2023 9/15/2023 1,577,500.00 91282CCX7 US TREASURY N/B NOTES 0.37% 9/15/2024 2,957.81

ATTACHMENT A
49 68
© PFM Asset Management LLC pfmam.com

INTEREST
9/15/2023 9/15/2023 798,570.18 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 286.15 9/15/2023 9/15/2023 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 9/15/2023 9/15/2023 38,224.45 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 60.20 9/15/2023 9/15/2023 1,775,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 8,179.79 9/15/2023 9/15/2023 1,085,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,774.00 9/15/2023 9/15/2023 454,006.79 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 279.97 9/15/2023 9/15/2023 179,080.48 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 50.74 9/15/2023 9/15/2023 277,982.16 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 88.03 9/15/2023 9/15/2023 2,880,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 9,732.80 9/15/2023 9/15/2023 825,000.00 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 3,547.50 9/15/2023 9/15/2023 492,318.90 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 213.34 9/18/2023 9/18/2023 310,000.00 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 963.58 9/18/2023 9/18/2023 2,640,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 10,315.07 9/21/2023 9/21/2023 230,754.86 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 51.92 9/23/2023 9/23/2023 4,190,000.00 4581X0DZ8 INTER-AMERICAN DEVEL BK NOTES 0.50% 9/23/2024 10,475.00 9/23/2023 9/23/2023 3,545,000.00 3137EAEX3 FREDDIE MAC NOTES 0.37% 9/23/2025 6,646.88 9/29/2023 9/29/2023 2,265,000.00 3133EMBH4 FEDERAL FARM CREDIT BANK (CALLABLE) 0.53% 9/29/2025 6,002.25

ATTACHMENT A
50 69
© PFM Asset Management LLC pfmam.com

INTEREST
9/30/2023 9/30/2023 525,000.00 91282CCY5 US TREASURY N/B NOTES 1.25% 9/30/2028 3,281.25 9/30/2023 9/30/2023 4,260,000.00 91282CGT2 US TREASURY N/B NOTES 3.62% 3/31/2028 77,212.50 9/30/2023 9/30/2023 3,750,000.00 857477BM4 STATE STREET CORP NOTES (CALLABLE) 2.90% 3/30/2026 54,393.75 9/30/2023 9/30/2023 3,700,000.00 91282CCZ2 US TREASURY N/B NOTES 0.87% 9/30/2026 16,187.50 9/30/2023 9/30/2023 7,720,000.00 91282CBS9 US TREASURY N/B NOTES 1.25% 3/31/2028 48,250.00 9/30/2023 9/30/2023 5,350,000.00 91282CEF4 US TREASURY N/B NOTES 2.50% 3/31/2027 66,875.00 9/30/2023 9/30/2023 2,400,000.00 91282CAL5 US TREASURY NOTES 0.37% 9/30/2027 4,500.00 Total INTEREST 281,681,530.96 2,187,160.75 0.00

MATURITY
7/10/2023 7/10/2023 8,000,000.00 313396HY2 FREDDIE MAC DISCOUNT NT DISC NOTES 0.00% 7/10/2023 8,000,000.00 7/12/2023 7/12/2023 5,215,000.00 313384JA8 FEDERAL HOME LOAN BANKS DISC NOTE 0.00% 7/12/2023 5,215,000.00 7/15/2023 7/15/2023 6,190,000.00 912828ZY9 US TREASURY NOTES 0.12% 7/15/2023 6,193,868.75 7/27/2023 7/27/2023 3,440,000.00 912796Y29 US TREASURY BILL 0.00% 7/27/2023 3,440,000.00 7/31/2023 7/31/2023 4,202,000.00 91282CCN9 US TREASURY N/B NOTES 0.12% 7/31/2023 4,204,626.25 7/31/2023 7/31/2023 2,500.00 912828S92 US TREASURY NOTES 1.25% 7/31/2023 2,515.63 8/11/2023 8/11/2023 3,367,500.00 06406RAJ6 BANK OF NY MELLON CORP CORP NOTES 3.45% 8/11/2023 3,425,589.38 8/11/2023 8/11/2023 242,500.00 69371RQ90 PACCAR FINANCIAL CORP CORPORATE NOTES 0.35% 8/11/2023 242,924.38

ATTACHMENT A
51 70
© PFM Asset Management LLC pfmam.com

MATURITY
8/22/2023 8/22/2023 5,525,000.00 912797GH4 US TREASURY BILL 0.00% 8/22/2023 5,525,000.00 8/24/2023 8/24/2023 7,500.00 3137EAEV7 FREDDIE MAC NOTES 0.25% 8/24/2023 7,509.38 9/12/2023 9/12/2023 7,500.00 3135G0U43 FANNIE MAE NOTES 2.87% 9/12/2023 7,607.81 9/16/2023 9/16/2023 1,467,500.00 46647PBS4 JPMORGAN CHASE CORP NOTES (CALLED,OMD 9/ 0.65% 9/16/2023 1,472,291.39 9/28/2023 9/28/2023 10,480,000.00 912796CS6 US TREASURY BILL 0.00% 9/28/2023 10,480,000.00 Total MATURITY 48,147,000.00 48,216,932.97 0.00

PAYDOWNS
7/1/2023 7/25/2023 1,158.84 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,158.84 7/15/2023 7/15/2023 27,933.18 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 27,933.18 7/15/2023 7/15/2023 59,888.49 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 59,888.49 7/15/2023 7/15/2023 10,967.41 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 10,967.41 7/15/2023 7/15/2023 16,813.09 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 16,813.09 7/15/2023 7/15/2023 3,244.82 65479CAD0 NAROT 2020-B A3 0.55% 7/15/2024 3,244.82 7/15/2023 7/15/2023 31,258.42 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 31,258.42 7/15/2023 7/15/2023 40,156.18 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 40,156.18 7/21/2023 7/21/2023 31,568.98 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 31,568.98 8/1/2023 8/25/2023 1,648.88 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,648.88

ATTACHMENT A
52 71
© PFM Asset Management LLC pfmam.com

PAYDOWNS
8/1/2023 8/25/2023 68,233.14 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 68,233.14 8/15/2023 8/15/2023 29,617.04 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 29,617.04 8/15/2023 8/15/2023 55,101.15 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 55,101.15 8/15/2023 8/15/2023 15,672.96 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 15,672.96 8/15/2023 8/15/2023 25,845.49 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 25,845.49 8/15/2023 8/15/2023 37,946.94 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 37,946.94 8/15/2023 8/15/2023 30,025.80 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 30,025.80 8/21/2023 8/21/2023 29,798.39 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 29,798.39 9/1/2023 9/25/2023 1,657.69 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,657.69 9/1/2023 9/25/2023 959.42 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 959.42 9/15/2023 9/15/2023 17,588.99 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 17,588.99 9/15/2023 9/15/2023 40,413.00 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 40,413.00 9/15/2023 9/15/2023 29,261.85 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 29,261.85 9/15/2023 9/15/2023 55,464.46 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 55,464.46 9/15/2023 9/15/2023 29,857.47 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 29,857.47 9/15/2023 9/15/2023 27,661.53 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 27,661.53

ATTACHMENT A
53 72
© PFM Asset Management LLC pfmam.com

PAYDOWNS
9/21/2023 9/21/2023 29,668.57 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 29,668.57 Total PAYDOWNS 749,412.18 749,412.18 0.00
SELL
7/11/2023 7/14/2023 2,145,000.00 24422EVY2 JOHN DEERE CAPITAL CORP CORPORATE NOTES 1.25% 1/10/2025 2,023,183.07 -93,643.11 7/17/2023 7/20/2023 2,210,000.00 3135G0U43 FANNIE MAE NOTES 2.87% 9/12/2023 2,224,126.81 -8,171.93 7/18/2023 7/21/2023 1,085,000.00 3135G0U43 FANNIE MAE NOTES 2.87% 9/12/2023 1,092,087.31 -3,949.57 7/18/2023 7/21/2023 810,000.00 3137EAEV7 FREDDIE MAC NOTES 0.25% 8/24/2023 806,938.88 -3,862.42 7/18/2023 7/21/2023 2,860,000.00 3135G0U43 FANNIE MAE NOTES 2.87% 9/12/2023 2,878,624.56 -10,468.04 7/18/2023 7/21/2023 365,000.00 91282CAW1 US TREASURY NOTES 0.25% 11/15/2023 359,377.46 -5,728.01 7/18/2023 7/21/2023 155,000.00 912828T26 US TREASURY NOTES 1.37% 9/30/2023 154,489.69 -1,137.80 7/19/2023 7/21/2023 2,275,000.00 912828U57 US TREASURY NOTES 2.12% 11/30/2023 2,255,609.47 -23,118.80 7/19/2023 7/21/2023 1,200,000.00 91282CAW1 US TREASURY NOTES 0.25% 11/15/2023 1,181,608.70 -18,738.07 7/24/2023 7/26/2023 1,085,000.00 912796Y29 US TREASURY BILL 0.00% 7/27/2023 1,084,849.31 -1.12 7/26/2023 7/31/2023 1,300,000.00 912828U57 US TREASURY NOTES 2.12% 11/30/2023 1,290,740.89 -12,274.56 8/11/2023 8/15/2023 150,000.00 912828U57 US TREASURY NOTES 2.12% 11/30/2023 149,243.92 -1,257.20 8/14/2023 8/18/2023 1,900,000.00 06051GJH3 BANK OF AMERICA CORP NOTES (CALLED, OMD 0.81% 10/24/2023 1,886,139.50 -18,734.00 8/16/2023 8/18/2023 3,930,000.00 912828XX3 US TREASURY NOTES 2.00% 6/30/2024 3,828,245.84 -119,263.46

ATTACHMENT A
54 73
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Dat
e
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
SELL
8/16/2023 8/17/2023 753,500.00 9128286G0 US TREASURY NOTES 2.37% 2/29/2024 749,846.40 -20,137.22 8/16/2023 8/17/2023 946,500.00 9128286G0 US TREASURY NOTES 2.37% 2/29/2024 941,910.56 -25,240.65 8/16/2023 8/17/2023 2,965,000.00 912828W71 US TREASURY NOTES 2.12% 3/31/2024 2,929,976.06 -81,662.98 8/16/2023 8/17/2023 700,000.00 91282CBV2 US TREASURY N/B NOTES 0.37% 4/15/2024 678,276.06 -22,512.80 8/16/2023 8/17/2023 230,000.00 9128285U0 US TREASURY NOTES 2.62% 12/31/2023 228,523.44 -2,315.79 8/16/2023 8/18/2023 2,250,000.00 912828X70 US TREASURY NOTES 2.00% 4/30/2024 2,211,331.95 -53,576.43 8/16/2023 8/18/2023 870,000.00 91282CBV2 US TREASURY N/B NOTES 0.37% 4/15/2024 843,145.10 -27,844.78 8/17/2023 8/22/2023 1,785,000.00 912828XX3 US TREASURY NOTES 2.00% 6/30/2024 1,739,868.73 -53,431.65 8/17/2023 8/22/2023 780,000.00 91282CCT6 US TREASURY N/B NOTES 0.37% 8/15/2024 743,218.92 -36,495.84 8/17/2023 8/22/2023 1,250,000.00 9128282N9 US TREASURY NOTES 2.12% 7/31/2024 1,214,820.40 -44,228.75 9/6/2023 9/11/2023 1,470,000.00 91282CCT6 US TREASURY N/B NOTES 0.37% 8/15/2024 1,403,278.28 -66,519.53 9/11/2023 9/14/2023 1,200,000.00 9128283J7 US TREASURY NOTES 2.12% 11/30/2024 1,162,525.88 -51,742.55 9/11/2023 9/14/2023 1,700,000.00 9128283D0 US TREASURY NOTES 2.25% 10/31/2024 1,656,732.00 -70,106.81 9/11/2023 9/14/2023 7,130,000.00 9128282U3 US TREASURY NOTES 1.87% 8/31/2024 6,899,239.10 -346,078.89 9/11/2023 9/14/2023 760,000.00 91282CCT6 US TREASURY N/B NOTES 0.37% 8/15/2024 726,091.72 -33,829.76 9/11/2023 9/14/2023 1,060,000.00 912828YM6 US TREASURY NOTES 1.50% 10/31/2024 1,021,490.38 -58,139.13 9/14/2023 9/15/2023 1,360,000.00 9128283J7 US TREASURY NOTES 2.12% 11/30/2024 1,317,395.79 -58,836.45

ATTACHMENT A
55 74
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Dat
e
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
SELL
9/18/2023 9/19/2023 465,000.00 912828U57 US TREASURY NOTES 2.12% 11/30/2023 465,054.19 -2,607.21 9/18/2023 9/19/2023 3,040,000.00 3135G06H1 FANNIE MAE NOTES 0.25% 11/27/2023 3,012,785.24 -29,887.25 9/20/2023 9/21/2023 2,200,000.00 3137EAFA2 FREDDIE MAC NOTES 0.25% 12/4/2023 2,178,424.72 -23,062.81 9/20/2023 9/21/2023 1,570,000.00 91282CCX7 US TREASURY N/B NOTES 0.37% 9/15/2024 1,494,786.11 -73,400.93 9/20/2023 9/21/2023 2,400,000.00 3135G0X24 FANNIE MAE NOTES 1.62% 1/7/2025 2,298,048.67 -133,851.81 9/20/2023 9/21/2023 1,700,000.00 3130A0F70 FEDERAL HOME LOAN BANKS NOTES 3.37% 12/8/2023 1,708,629.63 -10,023.44 9/20/2023 9/21/2023 2,890,000.00 9128283J7 US TREASURY NOTES 2.12% 11/30/2024 2,800,924.36 -124,351.39 9/27/2023 9/29/2023 3,072,500.00 912828ZC7 US TREASURY NOTES 1.12% 2/28/2025 2,900,985.50 -196,761.82 9/27/2023 9/29/2023 1,387,500.00 912828ZC7 US TREASURY NOTES 1.12% 2/28/2025 1,310,046.34 -90,337.13 9/27/2023 9/29/2023 450,000.00 3135G0X24 FANNIE MAE NOTES 1.62% 1/7/2025 431,078.13 -24,990.13 9/29/2023 9/29/2023 20,000.00 912828ZL7 US TREASURY NOTES 0.37% 4/30/2025 18,570.82 -1,358.35 Total SELL 67,875,000.00 66,3 02,269.89 -2,083,680.3

ATTACHMENT A
56 75
© PFM Asset Management LLC pfmam.com|
Short-Term Portfolio Holdings and Transactions

ATTACHMENT A
57 76
© PFM Asset Management LLC pfmam.com

LMA AMERICAS LLC COMM PAPER
DTD 03/03/2023 0.000% 10/05/2023
53944RX52 10,530,000.00 A-1 P-1 4/11/2023 4/11/2023 10,259,229.83 5.37 0.00 10,520,365.0510,523,880.90 10,530,000.00 10,259,229.83 0.00 10,520,365.05Security Type Sub-Total 5.37 10,523,880.90 10,530,000.00 10,259,229.83 0.00 10,520,365.05Managed Account Sub Total Securities Sub Total
Accrued Interest
$10,530,000.00 $10,259,229.83 $0.00 $10,520,365.05
$0.00
10,523,880.90
$10,523,880.90

5.37 5.37%
Total Investments $10,520,365.05

ATTACHMENT A
58 77
© PFM Asset Management LLC pfmam.com

ATTACHMENT A
59 78
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Appendix
|
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.

Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.

PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sources external to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion of the strategy rated by a NRSRO.

It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.

Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to be lower than the performance shown.

The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast, projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion as of the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and data presented are not necessarily indicative of future events or expected performance.

ATTACHMENT A
60 79
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Appendix
|
Important Disclosures
Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimated market value.

In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded.

Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns.

Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets.

Money market fund/cash balances are included in performance and duration computations.

Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.

Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.

MBS maturities are represented by expected average life.

ATTACHMENT A
61 80
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Appendix
|
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.

Agencies: Federal agency securities and/or Government-sponsored enterprises.

Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.

Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, and receivables.

Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.

Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.

Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector added or subtracted from the overall portfolio performance.

Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.

Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding on investment returns, while nominal yield does not.

FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.

Interest Rate: Interest per year divided by principal amount and expressed as a percentage.

Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.

Maturity: The date upon which the principal or stated value of an investment becomes due and payable.

Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.

Par Value: The nominal dollar face amount of a security.

Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the mortgage-backed security.

ATTACHMENT A
62 81
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2023
Appendix
|
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.

Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and maturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.

Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whose decisions are binding on its members.

Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.

Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.

U.S. Treasury: The department of the U.S. government that issues Treasury securities.

Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period from purchase date to maturity, stated as a percentage on an annualized basis.

YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

ATTACHMENT A
63 82
CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com

INVESTMENT REPORT
Period Ending September 30, 2023
City of Stockton

ATTACHMENT A
64 83
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Portfolio Holdings
SECTION 4 Transactions
Table of Contents As of September 30, 2023

ATTACHMENT A
65 84
SECTION |
Section 1 |
Economic Update

ATTACHMENT A
66 85
Economic Update



Recent economic data continues to suggest positive but below trend growth this year. Although the pace of job growth is moderating, labor markets remain solid, and the U.S. consumer has demonstrated resiliency. Inflationary trends are subsiding, but core levels remain well above the Fed’s target. Given the cumulative effects of restrictive monetarypolicy and tighter financial conditions, we believe the economy will gradually soften and the Fed will remain data dependent as they tread cautiously going forward.

As anticipated at the September meeting, the Federal Open Market Committee voted unanimously to maintain the target Federal Funds at the range of 5.25 - 5.50%. The Fed’s Summaryof Economic Projections (SEP) also revealed expectations of higher economic growth, reduced unemployment, and a gradual easing of inflation compared to earlier forecasts. The Fed is continuing to focus on achieving price stability and bringing inflation down towardtheir 2% policy objective, while leaving the option open for the possibility of additional rate hikes in the future if needed.

The yield curve remained inverted in September. The 2-year Treasury yield increased 18 basis points to 5.05%, the 5-year Treasury yield rose 36 basis points to 4.61%, and the 10-year Treasury yield increased 46 basis points to 4.57%. The inversion between the 2-year Treasury yield and 10-year Treasury yield narrowed to -48 basis points at September month-end versus -76 basis points at August month- end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -45 basis points. The inversion between 3-month and 10-year Treasuries narrowed to -88 basis points in Septemberfrom -134 basis points in August. The shape of the yield curve indicates that the probability of recession persists.

ATTACHMENT A
67 86
Employment
-400
-200
0 200
400
600
800
1,000MOM Change In Thousands (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3 month average (000's)

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
The U.S. economy added 187,000 jobs in August, exceeding consensus expectations, and the last two months were revised downwardby 110,000 jobs. The pace of job growth is softening with the three-month moving average payrolls at 150,000 and the six-month moving average at 194,000. The unemployment rate rose to 3.8% in August from 3.5% in July, and the labor force participation rate increased to

62.8%, the highest level since February of 2020. The U-6 underemploymentrate, which includes those who are marginally attached to the labor force and employed part time for economic reasons, increased to 7.1% from the prior month at 6.7%. Average hourly earnings declined to 4.3% year-over-year in August from 4.4% in July. While the U.S. labor market is moderating, employment remains strong by historical standards.

Source: US Department of Labor Source: US Department of Labor

ATTACHMENT A
68 87
Job Openings & Labor Turnover Survey
0 2,000
4,000
6,000
8,000
10,000
12,000
14,000
Job Openings
Recession
Historical Average
In Thousands (000's)
The number of job ope nings declined to 8.827 in July from 9.165 million in June. This marked the sixth decline in the last seven months and the lowest number in over two years. New hires, separations, and quits all fell. The current level of job openings remains elevated from a historical perspective.

Source: US Department of Labor

ATTACHMENT A
69 88
Inflation

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YOY (%) Change

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Cor e Deflator Y OY % Change
Fed Target
YOY (%) Change
The Consumer Price Index (CPI) increased in August by 0.6% month-over-month and 3.7% year-over-year, accelerating from 3.2% year-over- year in July due to surging energy prices. The Core CPI, which excludes volatile food and energy components, was up 0.3% month-over- month and 4.3% year-over-year, decelerating from 4.7% last month. Shelter remained the largest contributor to the Core CPI increase. The Personal Consumption Expenditures (PCE) index rose 0.4% month-over-monthand 3.5% year-over-year in August, up from a 3.4% year- over-year gain in July. Core PCE, the Federal Reserve’s preferred inflation gauge, increased just 0.1% month-over-monthand 3.9% year- over-year in August, down from a 4.3% increase in July. Personal income and spending remained relatively healthy, but the personal savings rate continued its declining trend to 3.9% in August from 4.1% in July. Inflation remains above the Fed's 2% target.

Source: US Department of Labor Source: US Department of Commerce

ATTACHMENT A
70 89
Consumer
-30.0%
-20.0%
-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%
Retail Sales YOY % Change
YOY (%) Change
Retail Sales rose 0.6% in August, exceeding the consensus forecast. Sales of motor vehicles and higher gasoline prices drove greater than expected gains. However, Control Group Sales, which are used to calculate gross domestic product and exclude food services, auto dealers, building materials stores and gasoline stations, rose just 0.1%, the smallest advance in five months. On a year-over-year basis, retail sales growth decelerated to a 2.5% gain in August versus a downwardly revised 2.6% gain in July. The Conference Board’s Consumer Confidence Index dropped more than expected to 103.0 in Septemberfrom an upwardly revised 108.7 in August, primarily due to significantly weaker future expectations for employment. While the consumer has been resilient, dwindling excess savings, rising credit card balances, and the resumption of student loan payments pose potential headwinds to future economic growth. 80 90
100
110
120
130
140
Index Level
Consumer Confidence
Source: US Department of Commerce Source: The Conference Board

ATTACHMENT A
71 90
Leading Indicators of Economic Activity
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%
Leading Economic Indicators (LEI)
Recession
YOY (%) Change
-1.00
-0.75
-0.50
-0.25

0.00 0.25

0.50 0.75

1.00 Chicago Fed National Activity Index (CFNAI)
Recession
3 Month Average
The Conference Board’s Leading Economic Index (LEI) remained in negative territory for the seventeenth consecutive month at -0.4% in August due to weak new orders, deteriorating consumer expectations of business conditions, high interest rates, and tight credit conditions. The index declined 7.6% year-over-year. The consistent decline month-over-month continues to signal future contraction in the economy. The Chicago Fed National Activity Index (CFNAI) surprised to the downside at -0.16 in August from downwardlyrevised 0.07 in July. On a 3-month movingaverage basis, the CFNAI remained negative at -0.14 in August, indicating a rate of growth below the historical average trend.

Source: The Conference Board Source: Federal Reserve Bank of Chicago

ATTACHMENT A
72 91
Housing
0 200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400In Thousands of Units
Annualized Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
Starts of new homes s lowed -11.3% to 1.283 million units at a seasonally adjusted annual rate in August after a downward revision to

1.447 million units in July. The slower starts came from both a 4.3% decline in single-family home starts and 26.3% decline in multi-family homes, continuing the reversal of strong multi-family homebuilding in the second half of 2022 and early 2023. Total starts of new homes are down 14.8% year-over-year. According to Freddie Mac, average 30-year fixed rate mortgage rates increased to 7.35% as of September 28th. Rising mortgage rates are prompting homebuilders to offer incentives to attract buyers and has caused homebuilder sentiment to reach a five-month low. According to the Case-Shiller 20-City Home Price Index, housing prices rose 0.1% year-over-year in July, improving from a 1.2% decline in June. Tight inventories and higher mortgage rates continue to impact affordability.

Source: US Department of Commerce Source: S&P
-20.0%
-16.0%
-12.0%
-8.0%
-4.0%

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

24.0%
S&P/Case-Shiller 20 City Composite Home Price Index
Recession
YOY (%) Change

ATTACHMENT A
73 92
Survey Based Measures
40 45
50 55
60 65
70 Institute of Supply Management (ISM) Surveys
ISM Manufacturing ISM Services

EXPANDING

CONTRACTING
The Institute for Suppl y Management (ISM) manufacturing index remained in contraction territory at 49.0 in September, up from 47.6 in August. This is the eleventh consecutive month of readings below 50.0, which is indicative of contraction in the manufacturing sector.

However, this is the highest reading since November 2022, as both employment and new orders improved, while prices paid subsided.

The Institute for Supply Management (ISM) services index expanded for the eight consecutive month to 54.5 in August from 52.7 in July, as consumer expenditures on entertainment surged, business activity, new orders, and the employment index continued their expansion.

Source: Institute for Supply Management

ATTACHMENT A
74 93
Gross Domestic Product (GDP)
Components of GDP 9/22 12/22 3/ 23 6/23

1.1% 0.8% 2.5% 0.6%
-1.5% 0.6% -1.7% 0.9%

2.6% 0.3% 0.6% 0.0%

0.1% 0.6% 0.3% 0.1%

0.4% 0.3% 0.5% 0.5%

2.7% 2.6% 2.3% 2.1%
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
State and Local (Consumption and Gross
Investment)
-40.0%
-30.0%
-20.0%
-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Source: US Department of Commerce Source: US Department of Commerce According to the third estimate, second quarter annualized GDP growth remained unchanged at 2.1%. A material decline in consumer spending was offset by improvement in business investment. Historically low unemployment, wage growth and savings built up during the pandemic has supported consumer spending at a level to keep economic growth intact, but there are signs the consumer is beginning to show signs of stress. The consensus estimate calls for 3.0% growth for the third quarter and 2.1% for the full year 2023.

ATTACHMENT A
75 94
Federal Reserve
Source: Federal Reserve Source: Bloomberg
0 1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
R ec ession
In $ millions
At the September meeting,the Federal Open Market Committee voted unanimously to leave the Federal Funds rate unchanged at a target range of 5.25 - 5.50%. Nonetheless, the Fed conveyed a consensus view that another rate hike is possible later in the year, along with its commitmentto keeping rates at their current level until inflation subsides closer to its 2% target, endorsing a data-dependent'higher-for- longer' strategy. The Fed’s Summary of Economic Projections (SEP) also revealed expectations of higher economic growth, reduced unemployment, and a gradual easing of inflation compared to earlier forecasts. We believe the resiliency of future economic data will determine if the Federal Reserve can stay on hold for or will tighten policy further to curb inflation. Since the Federal Reserve began its Quantitative Tightening campaign in June 2022, securities holdings have declined by over $1 trillion to $8.024T.

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
R ec ession
Yield (%)

ATTACHMENT A
76 95
Bond Yields
Source: Bloomberg Source: Bloomberg

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yield (%)

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Yield Curve
Sep-23
Jun-23
Sep-22
Yield (%)
At the end of September, the 2-year Treasury yield was 77 basis points higher, and the 10-Year Treasury yield was about 74 basis points higher, year-over-year. The inversion between the 2-year Treasury yield and 10-year Treasury yield narrowed to -48 basis points at September month-end versus -76 basis points at August month-end. The average historical spread (since 2003) is about +130 basis points. The inversion between 3-month and 10-year Treasuries narrowed to -88 basis points in September from -134 basis points in August. The shape of the yield curve indicates that the probability of recession persists.

ATTACHMENT A
77 96
Section 2|SECTION |
Section 2 |
Account Profile

ATTACHMENT A
78 97
Objectives
Chandler Asset Management Performance Objective
The performance objective for the portfolio is to earn a total rate of return through a market cycle that is equal to or above the return on the benchmark index.

Investment Objectives
Safety of principal is the foremost objective of the investment program. The investment portfolio shall remain sufficiently liquid to meet all requirements that may be reasonably anticipated. The investment portfolio shall be designed with the objective of attaining a market rate of return throughout budgetary and econmic cycles, taking into account the investment risk constraints and liquidity needs.

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

As of
September 30, 2023

ATTACHMENT A
79 98
Compliance As of September 30, 2023
Category Standard Comment
U.S. Treasuri es No l i mi t; 10 years max maturi ty Complies Federal Agenci es No limit in Federal Agencies or Government Sponsored Enterprises (GSEs), provided that: 20% max in Federal Agency or GSE issued mortgage-backed securities, mortgage pass-through securities, and collateralized mortgage obligations; 10 years max maturity Complies Supranational Obligations "AA" rating category or higher by a NRSRO; 30% max; 10% max per issuer; 5 years max maturity; USD denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by IBRD, IFC, or IADB Complies Municipal Securities (CA, Other States) "A" rating category or better by a NRSRO; 30% max; 5% max per issuer; 5 years max maturity Complies Corporate Medi um Term Notes
"A" rating category or higher by a NRSRO; 30% max; 5% max per issuer; 5 years max maturity; Corporate and depository institution debt securities; Issued by corporations organized and operating within the U.S. or by depository institutions licensed by the U.S. or any state and operating within the U.S.

Complies
Asset-Backed, Mortgage-Backed, Mortgage
Pass-Through Securities, and Collateralized
Mortgage Obligations
"AA" rating category or higher by a NRSRO; "A" issuer long-term debt rating category or higher by a NRSRO; 20% max (combined ABS/MBS/CMO); 5% max per Asset-Backed securi ty i ssuer; 5 years max maturi ty Complies Negoti abl e Certi fi cates of Deposi t (NCD)
The amount of NCD insured up to the FDIC limit does not require any credit ratings; Any amount above FDIC insured limit must be issued by institutions with "A-1" short-term debt rating or better by a NRSRO; or "A" long-term rating category or better by a NRSRO; 30% max; 5% max per issuer; 5 years max maturity
Complies
Certi fi cate of Deposi t Pl acement Servi ce
(CDARS) 20% m ax (com bination of FDIC & Collate ralize d Tim e De posits, and CDA RS; 5 ye ars m ax m aturity Complies Ti me Deposi ts (Non-negoti abl e CD/TD) 20% m ax (com bination of FDIC & Collate ralize d Tim e De posits, and CDA RS; 5 ye ars m ax m aturity Complies Collate ralize d Bank De posits De posits with financial institutions will be collate ralize d with ple dge d se curitie s pe r California Gove rnm e nt Code Complies Banker’s Acceptances A-1 short-term debt rated or better by a NRSRO; or "A" long-term debt rating category or better by a NRSRO; 40% max; 5% max per issuer; 180 days max maturity Complies
Commerci al Paper
25% max; 5% max per issuer; 270 days maturity; 10% max of the outstanding commercial paper of any single issuer; "Prime" quality of the highest rating by a NRSRO; The entity that issues the commercial paper shall either be:
(1)
o
rganized and operating within the U.S. as a general corporation with assets > $500 million; "A" rating category or higher by a NRSRO, if issuer has debt obligations; or
(2)
o
rganized within the U.S. as a special purpose corporation, trust, or limited liability company; has program-wide credit enhancements including, but not limited to, overcollateralization, letters of credit, or a surety bond; has commercial paper that is "A-1" rated or higher by a NRSRO
Complies
Money Market Mutual Funds
20% max in Money Market Mutual Funds; Meet either of the following criteria: (i) Attained highest rating by two NRSROs; or (ii) Retained an investment adviser registered or exempt from SEC registration with > 5 years experience investing in securities authorized by CGC and with A UM > $500 m illion
Complies
Local Agency Investment Fund (LAIF) Maximum amount permitted by LAIF; Not used by investment adviser Complies California Asset Management Program CAMP; Not used by investment adviser Complies Repurchase Agreements 1 year max maturity; 102% Collateralized; Not used by investment adviser Complies Maxi mum Maturi ty
10 years max maturity; Donated securities are not subject to maturity limits; 15% max for Investments maturing beyond a five-year horizon; Investments greater than 5 years shall be permitted for U.S. Treasuries, U.S. Agencies, as described in the policy; Investments in City Variable Rate obligations, with maturities greater than 5 years, may be made when IRS & SEC guidelines permit Complies
City of Stockton Reserve Portfolio
Assets managed by Chandler Asset Management are in full compliance with state law and the Client's investment policy.

ATTACHMENT A
80 99
Portfolio Characteristics
City of Stockton Reserve Portfolio
09/30/23 06/30/23
Benchmark* Portfolio Portfolio
Average Maturity (yrs) 2.66 2.74 2.64
Average Modified Duration 2.50 2.39 2.37
Average Purchase Yield n/a 1.96% 1.77%
Average Market Yield 5.07% 5.24% 4.96%
Average Quality** AA+ AA/Aa1 AA/Aa1
Total Market Value 310,495,068 310,067,798
*ICE BofA 1-5 Yr AAA-A US Corp & Govt Index
**Benchmark is a blended rating of S&P, Moody’s, and Fitch. Portfolio is S&P and Moody’s respectively.

As of September 30, 2023

ATTACHMENT A
81 100
City of Stockton Reserve Portfolio
Sector Distribution
ABS

4.1%
Agency

24.4%
CMO

2.5%
Corporate

21.1%Money Market
Fund

0.2%
Municipal Bonds

2.6%
Supranational

1.9%
US Treasury

43.3%
September 30, 2023 June 30, 2023
ABS

2.0%
Agency

27.9%
CMO

2.5%
Corporate

22.2%Money Market
Fund

0.0%
Municipal Bonds

2.6%
Supranational

1.9%
US Treasury

40.9%
As of September 30, 2023

ATTACHMENT A
82 101
Issue Name Investment Type % Portfolio
Government of United States US Treasury 43.27%
Federal National Mortgage Association Agency 11.15%
Federal Farm Credit Bank Agency 5.34%
Federal Home Loan Bank Agency 5.24%
Federal Home Loan Mortgage Corp Agency 2.44%
Federal Home Loan Mortgage Corp CMO 2.32%
Merck & Company Corporate 1.37%
Deere & Company Corporate 1.36%
John Deere ABS ABS 1.35%
Wal-Mart Stores Corporate 1.30%
Amazon.com Inc Corporate 1.29%
Inter-American Dev Bank Supranational 1.28%
Morgan Stanley Corporate 1.23%
Bank of America Corp Corporate 1.20%
United Health Group Inc Corporate 1.16%
Novartis Capital Corp Corporate 1.13%
JP Morgan ABS ABS 1.10%
Pfizer Inc. Corporate 1.02%
Charles Schwab Corp/The Corporate 1.01%
National Rural Utilities Corporate 0.99%
Prologis Trust Corporate 0.90%
US Bancorp Corporate 0.86%
Microsoft Corporate 0.84%
State of California Municipal Bonds 0.71%
MasterCard Inc Corporate 0.69%
Northern Trust Corp Corporate 0.68%
Target Corp Corporate 0.63%
Pepsico Inc Corporate 0.61%
Honeywell Corp Corporate 0.61%
Intl Bank Recon and Development Supranational 0.60%
Toyota Motor Corp Corporate 0.58%
Goldman Sachs Inc. Corporate 0.57%
Florida Hurricane Catastrophe Municipal Bonds 0.56%
JP Morgan Chase & Co Corporate 0.52%
Citigroup Inc Corporate 0.42%
American Express ABS ABS 0.40%
Los Angeles Cmnty College Dis Municipal Bonds 0.29%
Tennessee Valley Authority Agency 0.25%
Issuers
City of Stockton Reserve Portfolio – Account #10020
As of September 30, 2023

ATTACHMENT A
83 102
Issue Name Investment Type % Portfolio
Discover Card Execution Note Trust ABS 0.24%
Toyota ABS ABS 0.23%
University of California Municipal Bonds 0.23%
San Diego Community College District Municipal Bonds 0.23% Hyundai Auto Receivables ABS 0.21%
Maryland State Municipal Bonds 0.20%
BMW ABS ABS 0.20%
Carmax Auto Owner Trust ABS 0.20%
California Edl Facs Auth Rev Municipal Bonds 0.19%
Federated GOVT Obligation MMF Money Market Fund 0.17%
New Jersey State Turnpike Authority Municipal Bonds 0.16% State Street Bank Corporate 0.13%
BMW Vehicle Lease Trust ABS 0.13%
Federal National Mortgage Association CMO 0.13%
Honda ABS ABS 0.06%
California State Dept Water Municipal Bonds 0.02%
TOTAL 100.00%
Issuers
City of Stockton Reserve Portfolio – Account #10020
As of September 30, 2023

ATTACHMENT A
84 103
AAA AA A <A NR
09/30/23 6.1% 73.6% 15.5% 1.0% 3.9%
06/30/23 4.8% 74.6% 16.7% 1.0% 3.0%
Source: S&P Ratings
September 30, 2023 vs. June 30, 2023

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%
AAA AA A <A NR
09/30/23 06/30/23
Quality Distribution
City of Stockton Reserve Portfolio
As of September 30, 2023

ATTACHMENT A
85 104

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ City of Stockton Reserve Portfolio ICE BofA 1-5 Yr AAA-A US Corp & Govt Index Portfolio Compared to the Benchmark
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ Portfolio 6.8% 4.7% 11.6% 29.0% 24.1% 7.8% 4.1% 11.7%
Benchmark* 0.0% 0.0% 1.6% 35.4% 27.2% 21.7% 14.0% 0.0%
*ICE BofA 1-5 Yr AAA-A US Corp & Govt Index
Duration Distribution
City of Stockton Reserve Portfolio
As of September 30, 2023

ATTACHMENT A
86 105
-1.00%
-0.50%

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%
12 months 2 years 3 years 5 years 10 years Since Inception City of Stockton Reserve Portfolio ICE BofA 1-5 US Treasury & Agency Index ICE BofA 1-5 Yr AAA-A US Corp & Govt Index Net of Fees Total Rate of Return Annualized Since Inception July 31, 2022 MARKET VALUE BASIS EARNINGS 3 months 12 months 2 years 3 years 5 years 10 years Since Inception Income Earned $1,522,429.32 $4,721,573.09 N/A N/A N/A N/A $5,282,701.03 Change in Market Value ($1,064,813.06) $2,060,340.01 N/A N/A N/A N/A ($5,963,379.36) TOTAL DOLLAR RETURN $457,616.26 $6,781,913.10 N/A N/A N/A N/A ($680,678.33) Annualized
TOTAL RATE OF RETURN 3 months 12 months 2 years 3 years 5 years 10 years Since Inception
City of Stockton Reserve Portfolio 0.15% 2.38% N/A N/A N/A N/A -0.12% ICE BofA 1-5 US Treasury & Agency Index 0.24% 2.14% N/A N/A N/A N/A -0.72% ICE BofA 1-5 Yr AAA-A US Corp & Govt Index 0.22% 2.30% N/A N/A N/A N/A -0.65% Basis Point Fee* 0.01% 0.02% N/A N/A N/A N/A 0.03%
Net of Fee Return 0.14% 2.36% N/A N/A N/A N/A -0.15%
Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending value; it includes interest earnings, realized and unrealized gains and losses in the portfolio.

Investment Performance
City of Stockton Reserve Portfolio
As of September 30, 2023

ATTACHMENT A
87 106
Purchase Yield as of 09/30/23 = 1.96%

0.00 0.50

1.00 1.50

2.00 2.50
Percent (%)
Historical Average Purchase Yield
City of Stockton Reserve Portfolio
As of September 30, 2023

ATTACHMENT A
88 107
SECTION |
Section 3 |
Portfolio Holdings

ATTACHMENT A
89 108
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
ABS
14315XAC2 CarMax Auto Owner Trust 2020-1 A3

1.890% Due 12/16/2024
10,562.92 01/22/2020

1.90%
10,560.85
10,562.92

99.83 7.11%
10,544.95

8.87 0.00%
(17.97)

NR / AAA
AAA

1.21 0.03
43813GAC5 Honda Auto Receivables Trust 2021-1 A3

0.270% Due 04/21/2025
201,086.28 02/24/2021

0.27%
201,082.60
201,085.72

98.22 6.10%
197,506.55

15.08 0.06%
(3,579.17)
Aaa / NR
AAA

1.56 0.30
44933LAC7 Hyundai Auto Receivables Trust 2021-A A3

0.380% Due 09/15/2025
248,720.29 04/28/2021

0.38%
248,694.13
248,714.95

97.97 5.89%
243,673.76

42.01 0.08%
(5,041.19)

NR / AAA
AAA

1.96 0.37
05593AAC3 BMW Vehicle Lease Trust 2023-1 A3

5.160% Due 11/25/2025
415,000.00 02/07/2023

5.22%
414,990.12
414,993.05

99.15 6.04%
411,492.42
356.90

0.13%
(3,500.63)
Aaa / AAA
AAA

2.16 1.03
14316NAC3 CarMax Auto Owner Trust 2021-1 A3

0.340% Due 12/15/2025
161,491.49 01/27/2021

0.35%
161,459.58
161,490.08

97.49 6.36%
157,439.67

24.40 0.05%
(4,050.41)

NR / AAA
AAA

2.21 0.41
89239BAC5 Toyota Auto Receivables Trust 2021-C A3

0.430% Due 01/15/2026
743,105.72 09/27/2021

0.43%
743,046.49
743,084.46

96.73 5.88%
718,837.37
142.02

0.23%
(24,247.09)
Aaa / AAA
NR

2.30 0.60
14314QAC8 CarMax Auto Owner Trust 2021-2 A3

0.520% Due 02/17/2026
451,905.92 04/21/2021

0.53%
451,808.53
451,888.32

97.27 6.02%
439,550.81
104.44

0.14%
(12,337.51)

NR / AAA
AAA

2.39 0.49
44935FAD6 Hyundai Auto Receivables Trust 2021-C A3

0.740% Due 05/15/2026
424,149.32 11/17/2021

0.75%
424,054.64
424,110.63

96.64 5.94%
409,901.72
139.50

0.13%
(14,208.91)

NR / AAA
AAA

2.62 0.64
254683CP8 Discover Card Execution Trust 2021-A1 A1

0.580% Due 09/15/2026
797,500.00 09/27/2021

0.59%
797,329.25
797,444.87

95.07 6.00%
758,186.44
205.58

0.24%
(39,258.43)
Aaa / AAA
NR

2.96 0.92
05592XAD2 BMW Vehicle Owner Trust 2023-A A3

5.470% Due 02/25/2028
610,000.00 07/11/2023

5.54%
609,891.91
609,898.52

99.74 5.67%
608,395.70
556.12

0.20%
(1,502.82)

NR / AAA
AAA

4.41 1.88
477920AC6 John Deere Owner Trust 2023-B A3

5.180% Due 03/15/2028
1,085,000.00 06/21/2023

5.24%
1,084,819.02
1,084,831.97

99.12 5.62%
1,075,484.55
2,497.91

0.35%
(9,347.42)
Aaa / NR
AAA

4.46 2.27
02582JJZ4 American Express Credit Trust 2023-1 A

4.870% Due 05/15/2028
1,270,000.00 06/07/2023

4.92%
1,269,887.35
1,269,898.87

98.75 5.44%
1,254,155.48
2,748.84

0.40%
(15,743.39)

NR / AAA
AAA

4.63 2.39
47787CAC7 John Deere Owner Trust 2023-C A3

5.480% Due 05/15/2028
3,105,000.00 09/12/2023

5.55%
3,104,786.69
3,104,788.65

99.79 5.64%
3,098,557.13
5,671.80

1.00%
(6,231.52)
Aaa / NR
AAA

4.63 2.25
161571HT4 Chase Issuance Trust 23-A1 A

5.160% Due 09/15/2028
3,415,000.00 09/07/2023

5.23%
3,414,053.36
3,414,067.18

99.63 5.35%
3,402,425.97
7,831.73

1.10%
(11,641.21)

NR / AAA
AAA

4.96 2.66
TOTAL ABS 12,938,521.94 4.18%
12,936,464.52
12,936,860.19 5.64%
12,786,152.52
20,345.20

4.12%
(150,707.67)
Aaa / AAA
AAA

4.11 1.95
Agency
3135G06H1 FNMA Note

0.250% Due 11/27/2023
3,047,500.00 Various

0.24%
3,048,317.20
3,047,546.50

99.22 5.19%
3,023,817.88
2,624.23

0.97%
(23,728.62)
Aaa / AA+
AA+

0.16 0.16
As of September 30, 2023

ATTACHMENT A
90 109
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
3137EAFA2 FHLMC Note

0.250% Due 12/04/2023
2,222,500.00 12/02/2020

0.28%
2,220,299.72
2,222,371.40

99.11 5.27%
2,202,817.54
1,805.78

0.71%
(19,553.86)
Aaa / AA+
AA+

0.18 0.18
3130A0F70 FHLB Note

3.375% Due 12/08/2023
1,712,500.00 01/30/2019

2.71%
1,763,703.75
1,714,464.93

99.62 5.37%
1,705,924.00
18,141.80

0.56%
(8,540.93)
Aaa / AA+
AA+

0.19 0.19
3133ELVX9 FFCB Callable Note Cont 4/8/2022

0.875% Due 04/08/2024
750,000.00 04/07/2020

0.88%
750,000.00
750,000.00

97.59 5.62%
731,924.25
3,153.65

0.24%
(18,075.75)
Aaa / AA+
AA+

0.52 0.51
3135G0X24 FNMA Note

1.625% Due 01/07/2025
4,380,000.00 03/04/2020

0.84%
4,542,673.20
4,422,668.38

95.43 5.39%
4,179,943.50
16,607.50

1.35%
(242,724.88)
Aaa / AA+
AA+

1.27 1.22
3130AJHU6 FHLB Note

0.500% Due 04/14/2025
2,460,000.00 04/15/2020

0.60%
2,447,798.40
2,456,247.21

93.02 5.28%
2,288,260.02
5,705.83

0.74%
(167,987.19)
Aaa / AA+
AA+

1.54 1.49
3135G03U5 FNMA Note

0.625% Due 04/22/2025
10,880,000.00 Various

0.63%
10,879,060.80
10,879,756.46

93.06 5.31%
10,125,406.72
30,033.33

3.27%
(754,349.74)
Aaa / AA+
AA+

1.56 1.51
3135G04Z3 FNMA Note

0.500% Due 06/17/2025
6,642,500.00 06/17/2020

0.54%
6,628,750.02
6,637,793.68

92.46 5.15%
6,141,642.22
9,594.72

1.98%
(496,151.46)
Aaa / AA+
AA+

1.72 1.66
3137EAEU9 FHLMC Note

0.375% Due 07/21/2025
2,310,000.00 07/21/2020

0.48%
2,298,496.20
2,305,843.75

91.91 5.12%
2,123,127.93
1,684.38

0.68%
(182,715.82)
Aaa / AA+
AA+

1.81 1.76
3135G05X7 FNMA Note

0.375% Due 08/25/2025
3,995,000.00 08/25/2020

0.47%
3,976,303.40
3,987,894.06

91.47 5.14%
3,654,170.57
1,498.13

1.18%
(333,723.49)
Aaa / AA+
AA+

1.90 1.85
3137EAEX3 FHLMC Note

0.375% Due 09/23/2025
3,545,000.00 09/23/2020

0.44%
3,534,329.55
3,540,770.43

91.18 5.12%
3,232,192.75
295.42

1.04%
(308,577.68)
Aaa / AA+
AA+

1.98 1.93
3133EMBH4 FFCB Callable Note Cont 9/29/2021

0.530% Due 09/29/2025
2,265,000.00 10/07/2020

0.57%
2,261,036.25
2,263,408.83

91.15 5.25%
2,064,590.54

66.69 0.66%
(198,818.29)
Aaa / AA+
AA+

2.00 1.94
3135G06G3 FNMA Note

0.500% Due 11/07/2025
8,145,000.00 Various

0.54%
8,127,104.90
8,137,462.12

90.94 5.10%
7,406,891.96
16,290.00

2.39%
(730,570.16)
Aaa / AA+
AA+

2.11 2.04
3130ATS57 FHLB Note

4.500% Due 03/10/2028
4,100,000.00 03/28/2023

3.89%
4,211,028.00
4,199,605.87

99.46 4.63%
4,077,933.80
10,762.50

1.32%
(121,672.07)
Aaa / AA+
AA+

4.45 3.97
3133EN7B0 FFCB Note

3.750% Due 01/25/2030
3,000,000.00 01/20/2023

3.83%
2,985,090.00
2,986,541.93

93.71 4.92%
2,811,306.00
20,625.00

0.91%
(175,235.93)
Aaa / AA+
AA+

6.33 5.48
3133EN4V9 FFCB Note

4.125% Due 09/23/2030
2,100,000.00 12/22/2022

4.22%
2,087,505.00
2,088,733.73

94.83 5.01%
1,991,436.30
1,925.00

0.64%
(97,297.43)
Aaa / AA+
AA+

6.99 5.95
3133ENQ45 FFCB Note

4.250% Due 09/30/2030
875,000.00 11/30/2022

4.40%
866,250.00
867,182.80

95.09 5.09%
832,042.75
103.30

0.27%
(35,140.05)
Aaa / AA+
AA+

7.01 5.95
880591EX6 Tennessee Valley Authority Note

1.500% Due 09/15/2031
1,003,000.00 01/23/2023

4.04%
818,959.53
833,538.15

77.27 5.00%
775,019.10
668.67

0.25%
(58,519.05)
Aaa / AA+
AA+

7.96 7.27
3133ENFQ8 FFCB Note

1.810% Due 12/01/2031
2,303,000.00 01/25/2023

3.94%
1,939,056.91
1,966,991.88

78.58 5.04%
1,809,665.16
13,894.77

0.59%
(157,326.72)
Aaa / AA+
AA+

8.18 7.30
As of September 30, 2023

ATTACHMENT A
91 110
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
3133ENGS3 FFCB Note

1.625% Due 12/09/2031
4,500,000.00 02/24/2023

4.35%
3,613,410.00
3,673,124.20

77.30 5.04%
3,478,468.50
22,750.00

1.13%
(194,655.70)
Aaa / AA+
AA+

8.20 7.38
3133EN6M7 FFCB Note

4.000% Due 01/19/2033
3,000,000.00 01/18/2023

3.93%
3,017,490.00
3,016,269.10

91.99 5.09%
2,759,613.00
24,000.00

0.90%
(256,656.10)
Aaa / AA+
AA+

9.31 7.53
3130AV4X7 FHLB Note

4.375% Due 03/11/2033
2,500,000.00 05/12/2023

4.04%
2,568,175.00
2,565,533.88

94.81 5.07%
2,370,297.50
6,076.39

0.77%
(195,236.38)
Aaa / AA+
NR

9.45 7.58
3130AVWG3 FHLB Note

4.000% Due 06/10/2033
6,195,000.00 Various

4.40%
5,998,322.75
6,002,395.62

91.82 5.08%
5,688,211.83
101,185.01

1.86%
(314,183.79)
Aaa / AA+
AA+

9.70 7.71
TOTAL Agency 81,931,000.00 1.84%
80,583,160.58
80,566,144.91 5.14%
75,474,703.82
309,492.10

24.41%
(5,091,441.09)
Aaa / AA+
AA+

3.75 3.28
CMO
3136AJB54 FNMA 2014-M4 A2

3.346% Due 03/25/2024
402,902.64 12/18/2019

2.04%
422,481.20
404,841.36

98.67 6.35%
397,550.48
1,123.37

0.13%
(7,290.88)

NR / NR
NR

0.48 0.37
3137F2LJ3 FHLMC K066 A2

3.117% Due 06/25/2027
2,400,000.00 10/20/2022

4.88%
2,234,343.75
2,267,968.02

93.06 5.24%
2,233,516.80
6,234.00

0.72%
(34,451.22)

NR / NR
AAA

3.74 3.31
3137FG6X8 FHLMC K077 A2

3.850% Due 05/25/2028
5,245,000.00 05/24/2023

4.65%
5,148,705.08
5,155,258.63

94.67 5.16%
4,965,352.34
3,365.54

1.60%
(189,906.29)

NR / NR
AAA

4.65 4.07
TOTAL CMO 8,047,902.64 4.58%
7,805,530.03
7,828,068.01 5.24%
7,596,419.62
10,722.91

2.45%
(231,648.39)

NR / NR
AAA

4.17 3.65
Corporate
91159HHV5 US Bancorp Callable Note Cont 1/5/2024

3.375% Due 02/05/2024
1,062,500.00 04/02/2019

2.88%
1,085,598.75
1,063,776.61

99.04 6.15%
1,052,352.06
5,578.13

0.34%
(11,424.55)
A3 / A
A

0.35 0.34
58933YAU9 Merck & Co Callable Note Cont 2/7/2024

2.900% Due 03/07/2024
2,312,500.00 11/19/2021

0.78%
2,419,591.87
2,329,640.01

98.78 5.75%
2,284,386.94
4,470.83

0.74%
(45,253.07)
A1 / A+
NR

0.44 0.43
717081ES8 Pfizer Inc. Callable Note Cont 2/15/2024

2.950% Due 03/15/2024
3,200,000.00 06/03/2019

2.37%
3,281,376.00
3,206,496.80

98.73 5.80%
3,159,203.20
4,195.56

1.02%
(47,293.60)
A1 / A+
A

0.46 0.45
57636QAB0 MasterCard Inc Note

3.375% Due 04/01/2024
2,125,000.00 04/02/2019

2.67%
2,194,381.25
2,131,960.95

98.73 5.98%
2,098,008.25
35,859.38

0.69%
(33,952.70)
Aa3 / A+
NR

0.50 0.48
023135BW5 Amazon.com Inc Note

0.450% Due 05/12/2024
1,542,500.00 05/10/2021

0.50%
1,540,247.95
1,542,039.73

96.90 5.63%
1,494,702.55
2,680.09

0.48%
(47,337.18)
A1 / AA
AA-

0.62 0.60
931142EL3 Wal-Mart Stores Callable Note Cont 6/8/2024

2.850% Due 07/08/2024
4,100,000.00 05/12/2020

0.90%
4,418,693.00
4,153,830.38

97.96 5.58%
4,016,220.60
26,940.42

1.30%
(137,609.78)
Aa2 / AA
AA

0.77 0.74
As of September 30, 2023

ATTACHMENT A
92 111
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91159HHX1 US Bancorp Callable Note Cont 6/28/2024

2.400% Due 07/30/2024
1,650,000.00 08/01/2019

2.38%
1,651,369.50
1,650,207.45

97.14 5.97%
1,602,734.10
6,710.00

0.52%
(47,473.35)
A3 / A
A

0.83 0.80
06051GJH3 Bank of America Corp Callable Note Cont 10/24/2023

0.810% Due 10/24/2024
1,907,500.00 10/16/2020

0.81%
1,907,500.00
1,907,500.00

99.62 6.66%
1,900,177.11
6,738.24

0.61%
(7,322.89)
A1 / A-
AA-

1.07 0.06
24422EVY2 John Deere Capital Corp Note

1.250% Due 01/10/2025
2,357,500.00 03/08/2022

2.17%
2,298,067.42
2,330,735.28

94.76 5.55%
2,233,967.00
6,630.47

0.72%
(96,768.28)
A2 / A
A+

1.28 1.23
594918BB9 Microsoft Callable Note Cont 11/12/2024

2.700% Due 02/12/2025
2,675,000.00 03/04/2021

0.75%
2,863,881.75
2,732,296.47

96.55 5.35%
2,582,830.20
9,830.63

0.84%
(149,466.27)
Aaa / AAA
NR

1.37 1.31
89236TGT6 Toyota Motor Credit Corp Note

1.800% Due 02/13/2025
1,887,500.00 05/20/2020

1.58%
1,905,940.87
1,892,840.39

95.03 5.62%
1,793,698.80
4,530.00

0.58%
(99,141.59)
A1 / A+
A+

1.38 1.32
66989HAP3 Novartis Capital Corp Callable Note Cont 1/14/2025

1.750% Due 02/14/2025
3,680,000.00 05/08/2020

0.98%
3,809,756.80
3,715,781.88

95.15 5.46%
3,501,575.20
8,407.78

1.13%
(214,206.68)
A1 / AA-
AA-

1.38 1.32
023135CE4 Amazon.com Inc Note

3.000% Due 04/13/2025
2,567,500.00 04/11/2022

3.06%
2,563,417.67
2,565,414.14

96.61 5.32%
2,480,577.29
35,945.00

0.81%
(84,836.85)
A1 / AA
AA-

1.54 1.45
172967MX6 Citigroup Inc Callable Note Cont 5/1/2024

0.981% Due 05/01/2025
1,355,000.00 Various

0.97%
1,355,119.25
1,355,023.11

96.78 6.31%
1,311,386.62
5,538.57

0.42%
(43,636.49)
A3 / BBB+
A

1.59 1.50
38148LAE6 Goldman Sachs Group Inc. Callable Note Cont
2/22/2025

3.750% Due 05/22/2025
1,817,500.00 02/12/2021

0.78%
2,030,474.65
1,891,590.77

96.38 6.09%
1,751,713.77
24,422.66

0.57%
(139,877.00)
A2 / BBB+
A

1.64 1.54
438516CB0 Honeywell Intl Callable Note Cont 5/1/2025

1.350% Due 06/01/2025
2,000,000.00 09/03/2021

0.80%
2,039,160.00
2,017,005.62

93.59 5.41%
1,871,846.00
9,000.00

0.61%
(145,159.62)
A2 / A
A

1.67 1.61
46647PCM6 JP Morgan Chase & Co Callable Note Cont 8/9/2024

0.768% Due 08/09/2025
1,680,000.00 08/03/2021

0.77%
1,680,000.00
1,680,000.00

95.25 6.21%
1,600,173.12
1,863.68

0.52%
(79,826.88)
A1 / A-
AA-

1.86 1.77
63743HFF4 National Rural Utilities Note

5.450% Due 10/30/2025
3,000,000.00 10/31/2022

5.26%
3,015,750.00
3,010,951.51

99.87 5.51%
2,996,235.00
68,579.17

0.99%
(14,716.51)
A2 / A-
A

2.08 1.90
857477BR3 State Street Bank Callable Note Cont 2/6/2025

1.746% Due 02/06/2026
437,500.00 02/02/2022

1.75%
437,500.00
437,500.00

94.37 6.16%
412,847.75
1,167.03

0.13%
(24,652.25)
A1 / A
AA-

2.36 1.30
06051GKM0 Bank of America Corp Callable Note Cont 4/2/2025

3.384% Due 04/02/2026
1,875,000.00 03/17/2022

3.38%
1,875,000.00
1,875,000.00

95.71 6.42%
1,794,555.00
31,548.75

0.59%
(80,445.00)
A1 / A-
AA-

2.51 1.41
6174468Q5 Morgan Stanley Callable Note Cont 4/28/2025

2.188% Due 04/28/2026
2,200,000.00 08/24/2022

5.28%
2,072,268.00
2,110,463.77

93.94 6.28%
2,066,664.60
20,457.80

0.67%
(43,799.17)
A1 / A-
A+

2.58 1.50
As of September 30, 2023

ATTACHMENT A
93 112
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91324PEC2 United Health Group Inc Callable Note Cont 4/15/2026

1.150% Due 05/15/2026
4,000,000.00 09/19/2022

4.19%
3,592,560.00
3,707,267.21

89.96 5.30%
3,598,248.00
17,377.78

1.16%
(109,019.21)
A2 / A+
A

2.62 2.51
87612EBM7 Target Corp Callable Note Cont 12/15/2026

1.950% Due 01/15/2027
2,140,000.00 Various

1.97%
2,137,844.40
2,138,575.51

90.31 5.19%
1,932,717.46
8,809.67

0.63%
(205,858.05)
A2 / A
A

3.30 3.10
808513BY0 Charles Schwab Corp Callable Note Cont 2/3/2027

2.450% Due 03/03/2027
3,500,000.00 01/23/2023

4.35%
3,251,955.00
3,293,185.44

89.07 6.03%
3,117,600.50
6,669.44

1.01%
(175,584.94)
A2 / A-
A

3.42 3.19
665859AW4 Northern Trust Company Callable Note Cont 4/10/2027

4.000% Due 05/10/2027
2,200,000.00 08/24/2022

3.93%
2,206,402.00
2,204,881.15

94.59 5.68%
2,081,043.80
34,466.67

0.68%
(123,837.35)
A2 / A+
A+

3.61 3.24
74340XBV2 Prologis LP Callable Note Cont 09/15/2027

3.375% Due 12/15/2027
3,000,000.00 01/25/2023

4.28%
2,881,530.00
2,897,941.72

91.94 5.55%
2,758,344.00
29,812.50

0.90%
(139,597.72)
A3 / A
NR

4.21 3.80
24422EWR6 John Deere Capital Corp Note

4.750% Due 01/20/2028
2,000,000.00 01/20/2023

4.34%
2,035,920.00
2,030,991.35

98.19 5.22%
1,963,702.00
18,736.11

0.64%
(67,289.35)
A2 / A
A+

4.31 3.81
713448FL7 Pepsico Inc. Callable Note Cont 1/18/2028

3.600% Due 02/18/2028
2,000,000.00 04/27/2023

4.00%
1,964,920.00
1,968,034.67

94.62 4.98%
1,892,424.00
8,600.00

0.61%
(75,610.67)
A1 / A+
NR

4.39 3.97
61747YER2 Morgan Stanley Callable Note Cont 4/20/2027

4.210% Due 04/20/2028
1,800,000.00 07/31/2023

5.40%
1,729,026.00
1,731,576.95

94.03 5.97%
1,692,505.80
33,890.50

0.56%
(39,071.15)
A1 / A-
A+

4.56 3.97
58933YBH7 Merck & Co Callable Note Cont 4/17/2028

4.050% Due 05/17/2028
2,000,000.00 Various

4.03%
2,001,621.20
2,001,496.69

96.23 4.97%
1,924,524.00
30,150.01

0.63%
(76,972.69)
A1 / A+
NR

4.63 4.09
TOTAL Corporate 68,072,500.00 2.65%
68,246,873.33
67,574,005.56 5.68%
64,966,964.72
509,606.87

21.09%
(2,607,040.84)
A1 / A+
A+

2.09 1.85
Money Market Fund
60934N104 Federated Investors Government Obligations Fund 5 38,889.75 Various

5.18%
538,889.75
538,889.75

1.00 5.18%
538,889.75

0.00 0.17%

0.00 Aaa / AAA
AAA

0.00 0.00
TOTAL Money Market Fund 538,889.75 5.18%
538,889.75
538,889.75 5.18%
538,889.75

0.00 0.17%

0.00 Aaa / AAA
AAA

0.00 0.00
Municipal Bonds
13063DRJ9 California State TE-GO

2.400% Due 10/01/2023
2,192,500.00 10/16/2019

1.87%
2,236,371.92
2,192,500.00
100.00

2.40%
2,192,500.00
26,310.00

0.71%

0.00 Aa2 / AA-
AA

0.00 0.00
As of September 30, 2023

ATTACHMENT A
94 113
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
797272QP9 San Diego Cmnty College Dist TE-GO

2.046% Due 08/01/2024
725,000.00 09/18/2019

2.05%
725,000.00
725,000.00

97.25 5.45%
705,094.40
2,472.25

0.23%
(19,905.60)
Aa1 / AAA
NR

0.84 0.81
574193TQ1 Maryland State STE-GO

0.510% Due 08/01/2024
647,500.00 07/23/2020

0.52%
647,318.70
647,462.05

96.04 5.42%
621,863.53
550.38

0.20%
(25,598.52)
Aaa / AAA
AAA

0.84 0.81
13077DNC2 California State University TE-REV

0.685% Due 11/01/2024
625,000.00 08/27/2020

0.69%
625,000.00
625,000.00

94.97 5.52%
593,538.13
1,783.85

0.19%
(31,461.87)
Aa2 / AA-
NR

1.09 1.05
13067WRB0 California St Dept of Water TE-REV

0.560% Due 12/01/2024
77,500.00 07/30/2020

0.56%
77,500.00
77,500.00

94.47 5.51%
73,213.71
144.67

0.02%
(4,286.29)
Aa1 / AAA
NR

1.17 1.13
91412HGE7 University of California Callable STE-REV 1X 4/15/2025

0.883% Due 05/15/2025
760,000.00 07/10/2020

0.88%
760,000.00
760,000.00

93.25 5.27%
708,683.28
2,535.19

0.23%
(51,316.72)
Aa2 / AA
AA

1.62 1.57
341271AD6 Florida State Brd of Admin Fin ST TE-REV

1.258% Due 07/01/2025
1,875,000.00 09/03/2020

1.17%
1,882,423.50
1,877,692.18

92.83 5.61%
1,740,600.00
5,896.88

0.56%
(137,092.18)
Aa3 / AA
AA

1.75 1.69
54438CYK2 Los Angeles Cmnty College Dist STE-GO

0.773% Due 08/01/2025
965,000.00 10/30/2020

0.77%
965,000.00
965,000.00

91.88 5.48%
886,679.64
1,243.24

0.29%
(78,320.36)
Aaa / AA+
NR

1.84 1.78
646140DP5 New jersey St Turnpike Auth TE-REV

1.047% Due 01/01/2026
557,500.00 01/22/2021

1.05%
557,500.00
557,500.00

91.33 5.17%
509,163.64
1,459.26

0.16%
(48,336.36)
A1 / AA-
A+

2.26 2.17
TOTAL Municipal Bonds 8,425,000.00 1.26%
8,476,114.12
8,427,654.23 4.62%
8,031,336.33
42,395.72

2.60%
(396,317.90)
Aa2 / AA
AA

1.10 1.06
Supranational
459058JM6 Intl. Bank Recon & Development Note

0.250% Due 11/24/2023
1,870,000.00 11/17/2020

0.32%
1,865,979.50
1,869,801.73

99.22 5.50%
1,855,380.34
1,649.24

0.60%
(14,421.39)
Aaa / AAA
AAA

0.15 0.15
4581X0DZ8 Inter-American Dev Bank Note

0.500% Due 09/23/2024
4,190,000.00 09/15/2021

0.52%
4,186,899.40
4,188,987.21

95.14 5.67%
3,986,290.58
465.56

1.28%
(202,696.63)
Aaa / AAA
NR

0.98 0.95
TOTAL Supranational 6,060,000.00 0.46%
6,052,878.90
6,058,788.94 5.61%
5,841,670.92
2,114.80

1.88%
(217,118.02)
Aaa / AAA
AAA

0.72 0.70
US Treasury
912828WE6 US Treasury Note

2.750% Due 11/15/2023
1,862,500.00 03/06/2019

2.52%
1,881,343.26
1,862,995.01

99.67 5.34%
1,856,391.00
19,346.21

0.60%
(6,604.01)
Aaa / AA+
AA+

0.13 0.12
91282CAW1 US Treasury Note

0.250% Due 11/15/2023
1,572,500.00 10/04/2021

0.30%
1,570,780.08
1,572,399.49

99.38 5.23%
1,562,769.37
1,484.90

0.50%
(9,630.12)
Aaa / AA+
AA+

0.13 0.12
912828U57 US Treasury Note

2.125% Due 11/30/2023
4,257,500.00 01/07/2019

2.52%
4,181,330.66
4,254,941.12

99.45 5.39%
4,234,258.31
30,404.48

1.37%
(20,682.81)
Aaa / AA+
AA+

0.17 0.17
As of September 30, 2023

ATTACHMENT A
95 114
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
9128286G0 US Treasury Note

2.375% Due 02/29/2024
1,709,500.00 08/11/2021

0.35%
1,797,579.32
1,723,770.36

98.75 5.42%
1,688,197.92
3,457.75

0.54%
(35,572.44)
Aaa / AA+
AA+

0.42 0.41
912828W71 US Treasury Note

2.125% Due 03/31/2024
2,965,000.00 01/05/2022

0.88%
3,046,537.50
2,983,208.37

98.36 5.49%
2,916,471.85
172.15

0.94%
(66,736.52)
Aaa / AA+
AA+

0.50 0.49
91282CBV2 US Treasury Note

0.375% Due 04/15/2024
1,570,000.00 10/04/2021

0.40%
1,569,141.40
1,569,816.55

97.32 5.48%
1,527,867.48
2,718.55

0.49%
(41,949.07)
Aaa / AA+
AA+

0.54 0.53
912828X70 US Treasury Note

2.000% Due 04/30/2024
2,257,500.00 06/03/2019

1.90%
2,267,729.29
2,258,710.84

98.03 5.47%
2,213,056.60
18,894.29

0.72%
(45,654.24)
Aaa / AA+
AA+

0.58 0.56
912828XX3 US Treasury Note

2.000% Due 06/30/2024
4,690,000.00 07/01/2019

1.78%
4,738,365.63
4,697,238.93

97.46 5.50%
4,570,733.30
23,704.89

1.48%
(126,505.63)
Aaa / AA+
AA+

0.75 0.73
9128282N9 US Treasury Note

2.125% Due 07/31/2024
1,250,000.00 08/07/2019

1.47%
1,289,453.12
1,256,593.59

97.27 5.51%
1,215,917.50
4,475.20

0.39%
(40,676.09)
Aaa / AA+
AA+

0.84 0.81
91282CCT6 US Treasury Note

0.375% Due 08/15/2024
3,010,000.00 08/19/2021

0.42%
3,006,002.34
3,008,831.11

95.67 5.51%
2,879,724.19
1,441.61

0.93%
(129,106.92)
Aaa / AA+
AA+

0.88 0.85
9128282U3 US Treasury Note

1.875% Due 08/31/2024
7,137,500.00 Various

1.28%
7,335,869.62
7,175,243.40

96.80 5.50%
6,909,157.10
11,397.45

2.23%
(266,086.30)
Aaa / AA+
AA+

0.92 0.89
91282CCX7 US Treasury Note

0.375% Due 09/15/2024
1,577,500.00 10/04/2021

0.50%
1,571,769.24
1,575,634.17

95.29 5.48%
1,503,247.08
260.03

0.48%
(72,387.09)
Aaa / AA+
AA+

0.96 0.93
9128283D0 US Treasury Note

2.250% Due 10/31/2024
1,700,000.00 11/01/2019

1.57%
1,755,582.03
1,712,080.40

96.68 5.45%
1,643,488.60
16,006.79

0.53%
(68,591.80)
Aaa / AA+
AA+

1.09 1.04
912828YM6 US Treasury Note

1.500% Due 10/31/2024
1,060,000.00 01/12/2021

0.35%
1,106,043.75
1,073,145.87

95.91 5.44%
1,016,606.78
6,653.80

0.33%
(56,539.09)
Aaa / AA+
AA+

1.09 1.04
9128283J7 US Treasury Note

2.125% Due 11/30/2024
5,457,500.00 Various

1.66%
5,578,317.09
5,486,021.82

96.34 5.40%
5,257,962.89
38,974.15

1.71%
(228,058.93)
Aaa / AA+
AA+

1.17 1.12
912828ZC7 US Treasury Note

1.125% Due 02/28/2025
4,472,500.00 08/19/2021

0.53%
4,565,793.56
4,509,846.37

94.39 5.28%
4,221,619.59
4,285.12

1.36%
(288,226.78)
Aaa / AA+
AA+

1.42 1.37
912828ZL7 US Treasury Note

0.375% Due 04/30/2025
2,997,500.00 04/05/2021

0.70%
2,958,391.99
2,982,294.26

92.71 5.23%
2,778,892.33
4,703.96

0.90%
(203,401.93)
Aaa / AA+
AA+

1.58 1.54
912828ZW3 US Treasury Note

0.250% Due 06/30/2025
1,597,500.00 10/04/2021

0.70%
1,571,103.81
1,585,144.34

91.91 5.15%
1,468,203.14
1,009.29

0.47%
(116,941.20)
Aaa / AA+
AA+

1.75 1.70
91282CAJ0 US Treasury Note

0.250% Due 08/31/2025
8,820,000.00 Various

0.56%
8,710,250.00
8,768,232.89

91.25 5.10%
8,047,906.02
1,877.89

2.59%
(720,326.87)
Aaa / AA+
AA+

1.92 1.87
91282CAT8 US Treasury Note

0.250% Due 10/31/2025
3,500,000.00 10/04/2021

0.78%
3,425,898.44
3,462,051.62

90.68 5.02%
3,173,653.00
3,661.68

1.02%
(288,398.62)
Aaa / AA+
AA+

2.09 2.03
91282CAZ4 US Treasury Note

0.375% Due 11/30/2025
6,772,500.00 Various

0.94%
6,619,508.79
6,691,832.35

90.61 5.00%
6,136,257.49
8,535.02

1.98%
(555,574.86)
Aaa / AA+
AA+

2.17 2.10
As of September 30, 2023

ATTACHMENT A
96 115
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91282CBC4 US Treasury Note

0.375% Due 12/31/2025
6,400,000.00 01/11/2021

0.49%
6,363,250.00
6,383,356.20

90.40 4.93%
5,785,747.20
6,065.22

1.87%
(597,609.00)
Aaa / AA+
AA+

2.25 2.19
9128286A3 US Treasury Note

2.625% Due 01/31/2026
1,707,500.00 02/04/2021

0.46%
1,890,055.76
1,792,966.56

94.92 4.96%
1,620,724.85
7,551.51

0.52%
(172,241.71)
Aaa / AA+
AA+

2.34 2.21
91282CBH3 US Treasury Note

0.375% Due 01/31/2026
17,305,000.00 Various

0.79%
16,971,456.65
17,140,133.51

90.02 4.96%
15,577,874.48
10,933.19

5.02%
(1,562,259.03)
Aaa / AA+
AA+

2.34 2.27
91282CBQ3 US Treasury Note

0.500% Due 02/28/2026
12,670,000.00 Various

0.94%
12,437,181.06
12,539,466.76

90.03 4.92%
11,406,965.72
5,395.19

3.68%
(1,132,501.04)
Aaa / AA+
AA+

2.42 2.35
91282CCF6 US Treasury Note

0.750% Due 05/31/2026
8,320,000.00 Various

0.80%
8,301,545.71
8,310,144.87

89.81 4.87%
7,472,075.52
20,970.49

2.41%
(838,069.35)
Aaa / AA+
AA+

2.67 2.57
91282CCZ2 US Treasury Note

0.875% Due 09/30/2026
3,700,000.00 04/05/2022

2.77%
3,406,746.09
3,503,840.54

89.23 4.77%
3,301,672.80

88.46 1.06%
(202,167.74)
Aaa / AA+
AA+

3.00 2.90
912828V98 US Treasury Note

2.250% Due 02/15/2027
2,650,000.00 09/30/2022

4.07%
2,458,185.55
2,502,090.55

92.28 4.75%
2,445,348.45
7,615.15

0.79%
(56,742.10)
Aaa / AA+
AA+

3.38 3.18
91282CBJ9 US Treasury Note

0.750% Due 01/31/2028
540,000.00 03/14/2022

2.15%
498,382.03
509,329.03

84.79 4.67%
457,861.14
682.34

0.15%
(51,467.89)
Aaa / AA+
AA+

4.34 4.16
91282CCY5 US Treasury Note

1.250% Due 09/30/2028
525,000.00 03/14/2022

2.17%
495,591.79
502,541.03

84.99 4.65%
446,188.58

17.93 0.14%
(56,352.45)
Aaa / AA+
AA+

5.01 4.74
9128286B1 US Treasury Note

2.625% Due 02/15/2029
5,500,000.00 Various

4.11%
5,104,355.47
5,108,762.50

90.46 4.65%
4,975,349.50
18,439.20

1.61%
(133,413.00)
Aaa / AA+
AA+

5.38 4.90
912828YB0 US Treasury Note

1.625% Due 08/15/2029
520,000.00 03/21/2022

2.29%
496,518.75
501,366.16

84.86 4.59%
441,268.88
1,079.21

0.14%
(60,097.28)
Aaa / AA+
AA+

5.88 5.46
91282CGJ4 US Treasury Note

3.500% Due 01/31/2030
6,000,000.00 Various

3.94%
5,847,578.13
5,850,931.92

93.73 4.65%
5,623,830.00
35,380.44

1.82%
(227,101.92)
Aaa / AA+
AA+

6.34 5.55
912828Z94 US Treasury Note

1.500% Due 02/15/2030
542,500.00 04/06/2022

2.66%
498,040.43
506,383.38

82.89 4.63%
449,681.51
1,039.30

0.15%
(56,701.87)
Aaa / AA+
AA+

6.38 5.92
91282CAE1 US Treasury Note

0.625% Due 08/15/2030
587,500.00 04/06/2022

2.65%
498,755.37
514,419.61

76.75 4.61%
450,883.34
468.96

0.15%
(63,536.27)
Aaa / AA+
AA+

6.88 6.56
91282CBL4 US Treasury Note

1.125% Due 02/15/2031
565,000.00 04/06/2022

2.63%
498,104.88
509,240.27

78.88 4.53%
445,643.75
811.80

0.14%
(63,596.52)
Aaa / AA+
AA+

7.38 6.88
91282CCS8 US Treasury Note

1.250% Due 08/15/2031
562,500.00 04/06/2022

2.63%
498,515.62
508,601.64

78.16 4.59%
439,651.13
898.01

0.14%
(68,950.51)
Aaa / AA+
AA+

7.88 7.28
As of September 30, 2023

ATTACHMENT A
97 116
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91282CFV8 US Treasury Note

4.125% Due 11/15/2032
6,000,000.00 Various

3.72%
6,197,734.38
6,183,929.76

96.45 4.61%
5,786,718.00
93,485.05

1.89%
(397,211.76)
Aaa / AA+
AA+

9.13 7.37
TOTAL US Treasury 144,332,000.00 1.46%
143,008,788.59
143,077,537.15 5.07%
133,949,866.39
414,386.66

43.27%
(9,127,670.76)
Aaa / AA+
AA+

2.48 2.29
TOTAL PORTFOLIO 330,345,814.33 1.96%
327,648,699.82
327,007,948.74 5.24%
309,186,004.07
1,309,064.26
100.00%
(17,821,944.67
)
Aa1 / AA
AA+

2.74 2.39
TOTAL MARKET VALUE PLUS ACCRUALS 310,495,068.33
As of September 30, 2023

ATTACHMENT A
98 117
SECTION |
Section 4 |
Transactions

ATTACHMENT A
99 118
Transaction Ledger
City of Stockton Reserve Portfolio - Account #10020
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 07/18/2023 05592XAD2 610,000.00 BMW Vehicle Owner Trust 2023-A A3

5.47% Due: 02/25/2028

99.982 5.54% 609,891.91 0.00 609,891.91 0.00
Purchase 07/31/2023 3130AVWG3 3,185,000.00 FHLB Note
4% Due: 06/10/2033

96.399 4.45% 3,070,308.15 30,788.33 3,101,096.48 0.00
Purchase 07/31/2023 61747YER2 1,800,000.00 Morgan Stanley Callable Note Cont 4/20/2027

4.21% Due: 04/20/2028

96.057 5.39% 1,729,026.00 21,260.50 1,750,286.50 0.00
Purchase 08/30/2023
9128286B1 5,000,000.00 US Treasury Note

2.625% Due: 02/15/2029

91.898 4.31% 4,594,921.88 5,349.86 4,600,271.74 0.00
Purchase 08/30/2023
91282CFV8 2,000,000.00 US Treasury Note

4.125% Due: 11/15/2032

99.730 4.16% 1,994,609.38 23,987.77 2,018,597.15 0.00
Purchase 09/15/2023
161571HT4 3,415,000.00 Chase Issuance Trust 23-A1 A

5.16% Due: 09/15/2028

99.972 5.23% 3,414,053.36 0.00 3,414,053.36 0.00
Purchase 09/19/2023 47787CAC7 3,105,000.00 John Deere Owner Trust 2023-C A3

5.48% Due: 05/15/2028

99.993 5.55% 3,104,786.69 0.00 3,104,786.69 0.00
Purchase 09/22/2023 91282CGJ4 2,000,000.00 US Treasury Note

3.5% Due: 01/31/2030

93.895 4.62% 1,877,890.63 10,081.52 1,887,972.15 0.00
Subtotal 21,115,000.00 20,395,488.00 91,467.98 20,486,955.98 0.00 TOTAL ACQUISITIONS 21,115,000.00 20,395,488.00 91,467.98 20,486,955.98 0.00

DISPOSITIONS
Call 09/16/2023
46647PBS4 1,467,500.00 JP Morgan Chase & Co Callable Note Cont 9/16/2023
Due: 09/16/2024
100.000 0.65% 1,467,500.00 0.00 1,467,500.00 0.00
Subtotal 1,467,500.00 1,467,500.00 0.00 1,467,500.00 0.00 Maturity 07/10/2023
3135G05G4 4,285,000.00 FNMA Note

0.25% Due: 07/10/2023
100.000 4,285,000.00 0.00 4,285,000.00 0.00
June 30, 2023 through September 30, 2023
As of September 30, 2023

ATTACHMENT A
100
119
Transaction Ledger
City of Stockton Reserve Portfolio - Account #10020
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
Maturity 07/31/2023 912828S92 807,500.00 US Treasury Note

1.25% Due: 07/31/2023
100.000 807,500.00 0.00 807,500.00 0.00
Maturity 08/11/2023
06406RAJ6 3,367,500.00 Bank of NY Mellon Corp Note

3.45% Due: 08/11/2023
100.000 3,367,500.00 0.00 3,367,500.00 0.00
Maturity 08/11/2023
69371RQ90 242,500.00 Paccar Financial Corp Note

0.35% Due: 08/11/2023
100.000 242,500.00 0.00 242,500.00 0.00
Maturity 08/24/2023
3137EAEV7 2,292,500.00 FHLMC Note

0.25% Due: 08/24/2023
100.000 2,292,500.00 0.00 2,292,500.00 0.00
Maturity 09/12/2023
3135G0U43 6,162,500.00 FNMA Note

2.875% Due: 09/12/2023
100.000 6,162,500.00 0.00 6,162,500.00 0.00
Subtotal 17,157,500.00 17,157,500.00 0.00 17,157,500.00 0.00 TOTAL DISPOSITIONS 18,625,000.00 18,625,000.00 0.00 18,625,000.00 0.00 June 30, 2023 through September 30, 2023
As of September 30, 2023

ATTACHMENT A
101
120
Important Disclosures
2023 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

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

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

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

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

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

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

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

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

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

As of September 30, 2023

ATTACHMENT A
102
121
Benchmark Disclosures
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.

ICE BofA 1-5 Yr AAA-A US Corp & Govt Index
The ICE BofA US 1-5 Year AAA-A US Corporate & Government Index tracks the performance of US dollar denominated investment grade debt publicly issued in the US domestic market, including US Treasury, US agency, foreign government, supranational, and corporate securities. Qualifying securities must be issued from US issuers and be rated AAA through A3 (based on an average of Moody’s, S&P and Fitch). In addition, 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 final maturity at point of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for US Treasuries and $250 million for all other securities.

As of September 30, 2023

ATTACHMENT A
103
122

October 20, 2023

SUBJECT CERTIFICATION OF QUARTERLY INVE STMENT REPORT FOR QUARTER ENDED SEPTEMBER 30, 2023 _____
I hereby certify:
1) All investment actions executed since the last quarterly report have been made in full compliance with California Government Code (CGC) 53601; and 2) That the City of Stockton will meet its expenditure obligations for the next six months, as described in CGC 53646(b)(2) and (3) respectively.

KIMBERLY K. TRAMMEL

CHIEF FINANCIAL OFFICER
KKT:tc

ADMINISTRATIVE SERVICES
City Hall  425 N. El Dorado Street  Stockton, CA 95202-1997  209 / 937-8460  Fax 209 / 937-8844 www.stocktongov.com

ATTACHMENT B
123
City of Stockton
Legislation Text
File #: 23-1067, Version: 1

APPOINTMENTS TO THE CHARTER REVIEW ADVISORY COMMISSION

RECOMMENDATION
Resolution ratifying the Mayor and Council’s appointments to the Charter Review Advisory Commission for a term commencing immediately and Districts 2, 4, 5, and Mayoral appointments ending December 31, 2024, and Districts 1, 3, and 5 ending December 31, 2026.

Note: Redacted Applications and Resolution to be provided.

DISCUSSION
Background
This is an advisory body that reports to the Charter Review Ad-Hoc Committee. The Commission has been tasked with a specific scope of work, concrete deliverables, and a time schedule for project completion that coincides with certain scheduled upcoming elections.

The Charter Review Advisory Commission was established by Council Resolution 2023-10-24-1502 and will be comprised of seven appointees, each chosen by a City Council member, including the Mayor.

Present Situation
At this time the members have been selected and will be appointed with terms beginning immediately and Districts 2, 4, 5, and Mayoral appointments ending December 31, 2024, and Districts 1, 3, and 5 ending December 31, 2026.

Note: The recommended Advisory Commission members will be provided at the meeting.

FINANCIAL SUMMARY
There is no immediate financial impact to the General Fund from this appointment; there is no remuneration for service on the Charter Review Advisory Commission. There may be impacts to City staff time.

City of Stockton Printed on 11/9/2023Page 1 of 1
powered by Legistar™
124
City of Stockton
Legislation Text
File #: 23-0915, Version: 1
2024 CITY COUNCIL/SUCCESSOR AGENCY/STOCKTON PUBLIC FINANCING

AUTHORITY/STOCKTON PARKING AUTHORITY MEETING CALENDAR

RECOMMENDATION
It is recommended that the City Council, Successor Agency, Stockton Public Financing Authority, and Stockton Parking Authority adopt by motion the 2024 Concurrent City Council/Successor Agency/Stockton Public Financing Authority/Stockton Parking Authority Meeting Calendar.

DISCUSSION
Background
City Council Policy outlines that the City Council/Successor Agency/Stockton Public Financing Authority/Stockton Parking Authority meets regularly on Tuesday evenings to conduct business in the designated City Council Chamber. An annual calendar is adopted each year, designating the meeting schedule.

Present Situation
The attached Meeting Calendar (Attachment A) for 2024 is consistent with the existing meeting pattern established by City Council for the 2023 calendar year, with two regular business meetings scheduled each month, except for February, July, and August. February due to the City Council Workshop; July and August due to summer recess.

With Council concurrence, regular City Council meetings will be held the following Tuesdays in 2024:

January 9 May 14 September 17
January 23 May 21 October 1
February 6 June 4 October 22
March 12 June 25 November 12
March 19 July 9 November 19
April 2 August 20 December 3
April 16 September 10 December 10
This schedule is subject to change based on any revisions to the 9/80 schedule or material changes brought about by agreements with bargaining units. Change to this schedule may also occur as Council considers business needs, scheduling conflicts, the need for special meetings or study sessions.

City of Stockton Printed on 11/9/2023Page 1 of 2
powered by Legistar™
125
File #: 23-0915, Version: 1
The attached Meeting Calendar for 2024, which is also subject to change, depicts planned regular and special meetings, holidays, and the existing 9/80 schedule.

FINANCIAL SUMMARY
There is no direct financial impact to the City of Stockton with this action.

Attachment A - 2024 Stockton City Council Meeting Calendar City of Stockton Printed on 11/9/2023Page 2 of 2
powered by Legistar™
126
May

S M T W T F S
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31
June

S M T W T F S
1 2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 August

S M T W T F S
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31
September

S M T W T F S
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30
DRAFT 2024 STOCKTON CITY COUNCIL
MEETING CALENDAR*
January

S M T W T F S
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31
Holidays (box) Council meeting (circle) City Hall closed (every other Friday) Possible Study Session (star) No Council meeting scheduled (slash) *Subject to change; special meetings scheduled as needed February

S M T W T F S
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29
December

S M T W T F S
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31
April

S M T W T F S
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30
March

S M T W T F S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 July

S M T W T F S
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31
November

S M T W T F S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
October

S M T W T F S
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31

ATTACHMENT A
127
City of Stockton
Legislation Text
File #: 23-0872, Version: 2

ADOPT RESOLUTION TO AUTHORIZE THE WEBER POINT EVENTS CENTER SHADE STRUCTURE REHABILITATION - PHASE 2 PROJECT

RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Approve Notice of Exemption No. NOE36-22 under the California Environmental Quality Act for the Weber Point Events Center Shade Structure Rehabilitation - Phase 2, Project No.

WP22033.

2. Approve the plans and specifications for the Weber Point Events Center Shade Structure Rehabilitation - Phase 2, Project No. WP22033.

3. Award a Construction Contract in the amount of $798,910 to McFadden Construction, Inc. for the Weber Point Events Center Shade Structure Rehabilitation - Phase 2, Project No.

WP22033.

It is also recommended that the City Manager be authorized to take appropriate and necessary actions to carry out the purpose and intent of this resolution.

Summary
The project will replace the Weber Point Events Center shade structure, including the worn-out fabric membrane, “cat-eye” cables, small turnbuckles, aluminum clamp bars, and other miscellaneous hardware (Attachment A). In addition, the temporary stabilization measures installed with the Phase 1 fabric removal will be disconnected, and all steel will be repainted. The project was included in the 2021-26 Five-Year Capital Improvement Plan (CIP).

On August 31, 2023, the City received one bid for this project. Staff recommends the award of the Construction Contract to the lowest responsive bidder, McFadden Construction, Inc., in the amount of $798,910. Staff also recommends that Council adopt a resolution approving Notice of Exemption No.

NOE36-22 under the California Environmental Quality Act (CEQA) and approving the plans and specifications for the project. Construction is anticipated to be completed by fall 2024, weather permitting.

DISCUSSION
Background
The Weber Point Events Center was designed by Huntington Design Associates, Inc. The completed City of Stockton Printed on 11/9/2023Page 1 of 3
powered by Legistar™
128
File #: 23-0872, Version: 2
construction of the facility in 1999 was a noted milestone in the overall redevelopment of Stockton’s downtown and waterfront areas, with the tension fabric structure serving as a major feature.

Construction of the shade structure included a vinyl-coated polyester fabric membrane supported by a system of steel wire ropes and pipe masts with a drilled pier foundation. The fabric membrane was custom manufactured with an estimated lifespan of approximately 15 years.

In August 2021, Huntington Design Associates, Inc. was contacted by Public Works to inspect the fabric structure due to concerns over the fabric and cable-to-cable connections that had come apart.

City staff issued an emergency contract to re-attach parted cable connections.

In October 2021, Huntington Design Associates, Inc. provided a findings and recommendations report, noting that the fabric membrane was in poor condition and should be replaced, along with attachment appendages. The project was later funded and included with the adoption of the 2021-26 Five-Year CIP.

On December 21, 2021, the City retained Huntington Design Associates, Inc., to provide temporary stabilization measures and provide design services to prepare plans, specifications, and estimates for construction of the Weber Point Events Center Shade Structure Rehabilitation.

In April 2022, the Weber Point Events Center Shade Structure Rehabilitation, Phase 1 work was completed to remove the fabric membrane and install temporary stabilization cables.

On November 30, 2022, the Weber Point Events Center Shade Structure Rehabilitation - Phase 2, Project No. WP22033, was advertised for bids. On February 9, 2023, one bid was received; however, the contractor failed to comply with the bidding requirements, which resulted in a non-responsive bid.

On June 13, 2023, pursuant to Stockton Municipal Code (SMC) section 3.68.160(B), Council approved Motion No. 2023-06-13-1207 to reject the one bid received and to rebid the project. Staff surveyed other contractors who expressed an interest in the project but did not submit a bid.

Feedback received revealed that the scheduled scope of work and materials requirements, as shown on the specifications, provided restrictions for bidding. Therefore, the project specifications were revised to create a more favorable bidding environment for contractors.

On July 26, 2016, Council adopted a Community Workforce and Training Agreement (CWTA). The CWTA became effective August 25, 2016, and applies to all Public Works projects over $1 million that are bid after that date. On July 16, 2019, by Motion No. 2019-07-16-1403, Council extended the CWTA term to August 25, 2024. The CWTA was not applied to this project as the project cost is under $1 million.

Present Situation
On July 24, 2023, the Weber Point Events Center Shade Structure Rehabilitation - Phase 2, Project No. WP22033, was advertised for bids. On August 31, 2023, one bid was received with the following results:

City of Stockton Printed on 11/9/2023Page 2 of 3
powered by Legistar™
129
File #: 23-0872, Version: 2

COMPANY NAME BID AMOUNT
McFadden Construction, Inc. $798,910
(Stockton, CA)
Engineer’s Estimate $681,910
The requirements of Stockton Municipal Code (SMC) section 3.68.090, Local Business Preference, apply to this project. Application of the Local Business Preference has no effect on the bid order. The Local Employment Ordinance, SMC section 3.68.095, also applies to this contract.

The bid from McFadden Construction, Inc., the lowest responsive bidder, is regular in all respects and has the proper license to perform the work. The bid is approximately 15 percent higher than the engineer’s estimate. The high bid is attributed to a combination of material cost and low bidder turnout. Staff recommends Council approve the plans and specifications for the project and award a Construction Contract to McFadden Construction, Inc. of Stockton, CA, in the amount of $798,910.

The project is in conformance with the City’s General Plan, pursuant to California Government Code, section 65402, and is categorically exempt from the requirements of CEQA as specified under Section 15301(c) of the CEQA Guidelines. As a result, the project has been granted a Categorical Exemption. The activities related to this project constitute a discretionary project under the City’s jurisdiction and qualifies as a project that does not have a significant effect on the environment. The resolution will approve the filing of Notice of Exemption No. NOE36-22 under CEQA. Construction is anticipated to be completed by fall 2024, weather permitting.

FINANCIAL SUMMARY
There are sufficient funds available in the Weber Point Events Center Shade Structure Rehabilitation - Phase 2, Project No. WP22033, Account No. 4540-000-800007-300-000-30-45-000-000, to award a Construction Contract to McFadden Construction, Inc. in the amount of $798,910.

There is no impact to the City’s General Fund or any other unrestricted fund as a result of taking the recommended actions.

Attachment A - Vicinity Map
City of Stockton Printed on 11/9/2023Page 3 of 3
powered by Legistar™
130
!(
Ã4
§¨5

STOCKTON CHANNEL

YOSEMITE
LAKE

MORMON SL

MORMON SLOUGH
MCLEOD
LK
FR
EMON
T CH

DR MARTIN LUTHER

KING JR BL

EDISON S
T
YOS
EMI
TE

ST FLORA ST

CLEVELAND
LINC
OLN
ST

ANDERSON ST

N TUXEDO
ARGO
NAUT
S
T

MINER AV
COM
MER
CE
ST
UNION
S
T
ST
LA
KESIDE
AV

N CENTRAL

FIRST ST
UPR
R
(SPRR)
PL
UPRR
(SPR
R)

LINDSAY ST
WORTH
ALDER

BRYAN AV
CE
NT
ER
ST
AURORA
ST
MO
NRO
E S
T

FAIRFAX

HARDING WY ROSE ST

FLORA ST
SAN JO
AQUI
N ST
CALI
FOR
NIA ST

DR MARTIN LUTHER KING JR BL
HU
NT
ER S
T
ST
ST

WILLOW S
T
AV

MARKET ST
VAN BU
REN
ST

MODESTO A
V
PAC
IFIC
AV

YOSEMITE
WO
OD
LN
VAN
BURE
N
ST

MAGNOLIA ST

CHURCH ST

ACACIA ST
LY
S.J
. S
T
AV
CEN
TER
ST
AM
ERIC
AN ST

MAGNOLIA ST
CO
NCO
RD
WALNUT
HARRI
SON ST
W
Y
VIEW
OAK ST

BEDFORD
GR
AN
T ST
COMM
ERC
E ST
ST

AIRPORT
W
Y
SUTT
ER S
T

LAFAYETTE ST
STOC
KTON

ROOSEVEL
T
M
ADIS
ON ST
ST

POPLAR ST

MAIN ST

STOCKTON
ST

CLAY ST
CT
WO
OD
LN
EL D
ORAD
O S
T

WASHINGTON ST
EL
DORADO
ST
WALNUT
PARK-
LINCOL
N ST
HUN
TER
ST
KEN
SING
TO
N
AV
SAN JO

AQUIN S
T
RAM
ON
A
AV
OAK ST
AR
GONAU
T ST
PILGRI
M S
T

JEFFERSON ST
AME
RIC
AN ST

ACACIA ST
MA
DISO
N ST

CHANNEL ST
ORAN
GE

BN&SF RR
AR
GONAUT
STOCKT
ON
ST
RD

CLAY ST

HAWTHOR
NE
PA
LM
MA
DI
SON ST

WILLOW ST
RD
OXFORD
ST
ELM ST
CA

LIFORNIA S
T
STA
NIS
LA
US
ST

PINCHOT
HUNTE
R S
T

LEXINGTON
AM
ER
IC
AN ST
PERS
HING
SIER
VAN B
UREN
ST
PERS
HING
ACACIA

CHURCH ST

S CENTRAL
SONORA
SUTT
ER ST
BERK
ELE
Y AV
SAN
JOSE
LIN
CO
LN ST

WORTH ST

ACACIA ST

STANFORD

SCOTTS AV
CO
M
ME
RCE
ST

S TUXEDO AV
ELIZA
BETH
MA
RS
HAL
L AV
ELM ST

HUNTER ST

JEFFERSON ST
C
I
LOM
ITA AV

LINDSAY ST
AM
ERICA
N ST
HA
RRISON
ST
WALNUT
MONR
OE ST

FREMONT ST

UNION ST
AV

CHURCH ST
BA
KER S
T

BN&SF RR

WEBER AV

POPLAR ST
SA
N JOSE
ST
ST
W
ESTMIN
STER A
V
SAN JO
SE S
T
ST
HU

NTER ST

LA FOLLETTE
CE
NTER
ST
ST

MCCLOUD
CA
LIFORN
IA ST
ST

MAPLE ST

WYANDOTTE
SONORA
CARME
L AV
SU
TTER
ST
STOCK
TON
ST

ANDERSON
GRA
NT
ST
BAK
ER
ST
PILGRI
M
ST

S TUXEDO

PARK ST

ROSE ST
AU
ROR
A ST
GARFI
ELD
ST
SONORA
CEME

TERY LN

MARKET ST

LINDSAY ST

TAYLOR ST
ST
WY
AUR
ORA ST

CHESTNUT

ANDERSON
SAN JO

AQUIN ST

MAPLE AV
AV

JACKSON ST
MA
DIS
ON
ST
STA
NI
SLAUS
ST
AV

HAZELTON AV

VINE ST
MERLOT

WASHINGTON ST

JACKSON ST

WASHINGTON ST

FREMONT ST
AV
VAN
BURE
N ST
CENT
ER ST

GRANT S
T
SPERRY
WY

PROJECT LOCATION
µ
0 0.15 0.3 0.45 0.60.075
Miles
LEGEND
!( Project Location
Parks
Public Schools
Weber Point Events Center Shade Structure Rehabilitation - Phase 2, Project No. WP22033

CITY OF STOCKTON

DEPARTMENT OF PUBLIC WORKS

EIGHT MILE RD

EIGHT MILE RD
ALPIN
E R
D

ROBERTS RD

HOWARD RD

MAIN ST

PERSHING AV
EL D
ORADO
S
T

EIGHT M ILE RD

DAVIS RD

THORNTON RD
EL DO
RADO
ST

WEST LN
PAC

IFIC AV

MARCH LN ALPINE AV CHEROKEE RD
AIRPO
RT W
Y

CENTER ST

FRENCH CAMP RD

MAIN ST
AIRPO
RT W
Y

CHEROKEE RD
ALPINE
RD

ROBERTS RD

HOWARD RD
LOW
ER SAC
R
AM
ENTO
RD
W
ILSO
N
W
Y
PA

CIFIC AV

DR MLK JR BL

MARIPOSA RD
HO
LM
A
N RD
H
OLM
ANRD
TR
INITY
PK
W
EST LN

MORADA LN

THORNTON RD

HAMMER LN HAMMER LN

PER SHING AV
BE NJ.HOL T DR
MAR C
H LN

HARDING WY
W
EST LN
WATER
LOO RD
W
ILSO
N W
Y

NAVY DR

EIGHTH ST
FRENCH
CAMPRD
AIRPO
RT W
Y

FREMONT ST

SPERRY RD

ARCH AIRPORT RD

MARCH LN

MATHEW S R D
EL
DO
RADO
ST

CHARTER WY

ATTACHMENT A
.
.
131
Resolution No.

STOCKTON CITY COUNCIL

RESOLUTION AP PROVING THE NOTICE OF EXEMPTION NO . NOE36-22,

APPROVING THE PLANS AND SPECIFICATION S, AND AWARDING A

CONSTRUCTION CONTRACT FOR THE WEBER POINT EVENTS CENTER SHADE STRUCTURE REHABILITATION – PHASE 2, PROJECT NO. WP22033

On August 31, 2023, the City Clerk of the City of Stockton opened, examined, and publicly declared the sealed proposals or bids offered for the Weber Point Events Center Shade Structure Rehabilitation – Phase 2, Project No. WP22033; and

The project will replace the Weber Point Events Center shade structure, including the worn-out fabric membrane, “cat-eye” cables, small turnbuckles, aluminum clamp bars, and other miscellaneous hardware; and

McFadden Construction, Inc . is the lowest responsive bidder , in the amount of $798,910, and its bid is regular and responsive in all respects; and

The project is categorically exempt from the requirements of the California Environmental Quality Act (CEQA) as specified under section 15301 (c) of the CEQA Guidelines, because this is a discretionary project under the City’s jurisdiction and qualifies as a project which has been determined to not have a significant effect on the environment; now, therefore,

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STOCKTON, AS FOLLOWS:

1. The City Council approves the filing of Notice of Exemption No. NOE36-22 under the CEQA for the Weber Point Events Center Shade Structure Rehabilitation – Phase 2, Project No. WP22033, a copy of which is attached as Exhibit 1 and incorporated by this reference.

2. The City Council approves the plans and specifications for the Weber Point Events Center Shade Structure Rehabilitation – Phase 2, Project No. WP22033.

3. The City Council a wards a Construction Contract between the City of Stockton and McFadden Construction , Inc. , in the amount of $798,910, and the City Manager is a uthorized and directed to execute same, a copy of which is attached as Exhibit 2 and incorporated by this reference.

//
//
//
//
//
//
132

4. The City Manager is hereby authorized to take whatever actions are appropriate and necessary to carry out the purpose and intent of this Resolution.

PASSED, APPROVED, and ADOPTED November 14, 2023 .

____________________________
KEVIN J. LINCOLN, II
Mayor of the City of Stockton
ATTEST:

__________________________
ELIZA R. GARZA, CMC
City Clerk of the City of Stockton

133

CITY OF STOCKTON

NOTICE OF EXEMPTION
TO: CO
UNTY CLERK FROM: Lead Agency
COUNT Y OF SAN JOAQUIN City of Stockton
44 N. San Joaquin St., Ste. 260 c/o Public Works Department Stockton, CA 95202 22 East Weber Avenue, Suite 301
Stockton, CA 95202
NOTI
CE OF EXEMPTION PURSUANT TO PUBLIC RESOURCES CODE SECTION 21152(B) AND CALIFORNIA CODE OF REGULATIONS TITLE 14, SECTION 15062
PROJ

ECT DATA
Pr
oject Title: WEBER POINT EVENTS CENTER SHADE STRUCTURE REHABILITATION – PHASE 2, PROJECT NO.

WP22033
CEQA Exemption File No.: NOE 36-22
Applicant: City of Stockton Public Works Department
Project Description/Location: The City of Stockton’s Public Works Department will be installing new fabric on the existing Weber Point Shade Structure. Phase 2 work will include painting the existing structure and other associated work as per the approved plans and specifications.

DET

ERMINATION/FINDING OF EXEMPTION
The abov
e-described activit y/project i s e xempt from the environmental assessment requirements of the Ca lifornia Environmental Quality Act (CEQA) pursuant to the following section(s) of the State CEQA Guidelines (California Code of Regulations, Title 14):

The
activity is not a "project" as defined in CEQA Guidelines Section 15378.

The activit y is exempt under the "general rule" at CEQA Guidelines Section15061(B)(3).

The project is "Stat utorily Exempt" per CEQA Guidelines Section: __________ X The project is "Categorically Exempt" per CEQA Guidelines Section 15301(c).

BASI

S FOR FINDING OF EXEMPTION
The activity does not qualify as a proj ect and/or clearly could not have a significant effect on the environment and, therefore, CEQA does not apply.

X T he activity constitutes a discretionary project under the City's jurisdiction and qualifies as a project which has been determined not to have a significant effect on the environment and, therefo re, is exempt from the provisions of CEQA under the above-noted statutory or categorical exemption(s).

JODI
ALMASSY, DIRECTOR December 7, 2022

PUBLIC WORKS DEPARTMENT (DATE OF PREPARATION)
By
Thinh Phan, Project Manager (DATE OF FINAL APPROVAL) _____________________________________________________________________________________________ AFF

IDAVIT OF FILING AND POSTING
I dec
lare that on the date stamped above, I received and posted this notice or included it on a list of such notices which was posted as required by California Public Resources Code Section 21152(B). Said notice or list of notices will remain posted for 35 days from the filing date.
___________________________________________ ________________________________________________ Signature Title
_______________________
__________________
Posting Period Ending Date
EXHIBIT 1
134

CONSTRUCTION CONTRACT
This c
ontract is made and entered into on _____________, by and between MCFADDEN CONSTRUCTION, INC. , a STATE OF CALIFORNIA CORPORATION, with a business address at 3817 E FARMINGTON ROAD, STOCKTON, CA 95215, hereinafter called "CONTRACTOR," and CITY OF STOCKTON, a municipal corporation, hereinafter called "CITY."

W I T N
E S S E T H:

WHER
EAS, plans and specifications for the construction of WEBER POINT EVENTS CENTER SHADE STRUCTURE REHABILITATION – PHASE 2 (PROJECT NO. WP22033), hereinafter called “PROJECT,” were regularly adopt ed b y Council Resolution No. __________________, on _________________; and
WHEREAS, the contract for said work was regularly awarded to CONTRACTOR, by Council Resolution No. __________________, on ________________.

NOW, THEREFORE , in consideration of the pr omises and of the mutual covenants herein contained, the parties hereto expressly agree as follows:

CONTRACTOR agrees:

1. SCOPE OF
SERVICES. To do the w ork and furnish all the labor, materials, tools, equipment, and insurance required for the construction of PROJECT in accordance with the plans and specifications adopted on _____________, by Council Resolution No. __________________ . The "contract documents," which include the bid documents, project plans, specifications, all letters of clarification, and the City of Stockton Standard Specifications and Plans, are incorporated into and made a part of this contract by this reference to the same extent as if fully set forth.

2. COMPEN
SATION. To do and perf orm the work contemplated hereby in a good and workmanlike manner and to furnish all labor, materials, tools , and equipment necessary therefore at the prices specified in Exhibit A, attached hereto and by reference made a part hereof, under the direction of and to the complete satisfaction of the Director of Public Works of the City of Stockton. Total compensation for services and reimbursement for costs shall not exceed $798,910.00, or as otherwise mutually agreed to in a Contract Change Order.

3. INSURA
NCE. CONT RACTOR shall not commence any work before obtaining, and shall maintain in force at all times during the duration and performance of this contract, the policies of insurance specified in Exhibit B, which is attached to this contract and incorporated by this reference, and as provided in the “contract documents” including Section 7- 1.06 of the City of Stockton Standard Specifications and Plans as adopted on September 27, 2016 , by Council Resolution No. 2016-09-27-1213, effective September 27, 2016.

It shal
l b
e a requirement under this agreement that any available insurance proceeds broader than or in excess of the specified minimum insurance coverage requirements and/or limits shall be available to the Additional Insured.

EXHIBIT 2

Page 1 of 38 ends

135
Furthermore, the requirements for coverage and limits shall be (1) the minimum coverage and limits specified in this Agreement; or (2) the broader coverage and maximum limits of coverage of any insurance policy or proceeds available to the named Insured, whichever is greater.

The Addit
ional Insured coverage under the CONTRACTOR’s policy shall be “primary and non- contributory” and will not seek contribution from the City of Stockton’s insurance or self - insurance and shall be at least as broad as ISO CG 20 01 04 13.

The lim
its of insurance required in this agreement may be satisfied by a combination of primary and umbrella or excess insurance. Any umbrella or excess i nsurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non- contributory basis for the benefit of the City of Stockton (if agreed to in a written contract or agreement) before the City of Stockton’s own insurance or self-insurance shall be called upon to protect it as a named insured.

All self-i
nsured retentions (SIR) must be disclosed to the CITY’s Risk Management for approval and shall not reduce the limits of liability. Payment Bond in the amount of the self -insured retention (SIR) may be required.

Polic
ies containing any self -insured retention (SIR) provision shall provide or be endorsed to provide that the SIR may be satisfied by either the named insured or the CITY.

The CITY r
eserves the right to obtain a full certified copy of any i nsurance policy and endorsements.

Failur
e to exercise this right shall not constitute a waiver of right to exercise later.

CONTRACT
OR shall maintain insurance as required by this contract to the fullest amount allowed by law and shall maintain insurance for a minimum of five years following the completion of this project. In the event contractor fails to obtain or maintain completed operations coverage as required by this agreement, the City at its sole discretion may purchase the coverage required and the cost will be paid by contractor.

CONTRACT
OR agrees to include with all Subcontractors in their subcontract the same requirements and provisions of this agreement including the indemnity and insurance requirements to the extent they apply to the scope of the Subcontractor’s work. Subcontractors hired by CONTRACTOR agree to be bound to CONTRACTOR and the CITY in the same manner and to the same extent as CONTRACTOR is bound to the CITY under the Contract Documents. Subcontractor further agrees to include these same provisions with any Sub- subcontractor. A copy of the CITY Contract Document Indemnity and Insurance provisions will be furnished to the Subcontractor upon request. The General CONTRACTOR shall require all sub-contractors to provide a valid certificate of insurance and the required endorsements included in the agreement prior to commencement of any work and contractor will provide proof of compliance to the City.

4. INDE
MNITY AND HOLD HARMLESS. With t he exception that this section shall in no event be construed to require indemnification by Contractor to a greater extent than permitted under the public policy of the State of California, Contractor shall indemnify, protect, defend EXHIBIT 2

Page 2 of 38 ends

136
with counsel approved by City and at Contractor’s sole cost and expense, and hold harmless the City of Stockton , its officers, officials, employees , and volunteers from and against any and all claims, causes of action, liabilities, judgments, awards, losses, liens, claims, stop notices, damages, expenses, and costs (including without limitation attorneys’ fees, expert and consultant fees, and other expenses of litigation) of every nature, including, but not limited to, death or injury to persons, or damage to property, which arise out of or are in any way connected with the work performed, materials furnished, or services provided under this Agreement, or from any violation of any federal, S tate, or municipal law or ordinance, or City Policy, by Contractor or Contractor’s officers, agents, employees, volunteers or subcontractors. Contractor shall not be obligated to indemnify or defend City for claims finally determined by a court of law or arbitrator to arise from the active negligence or willful misconduct of the City. It is the intent of the Parties that this indemnity obligation is at least as broad as is permitted under California law. To the extent California Civil Code sections 2782, et seq., limit the defense or indemnity obligations of Contractor to City, the intent hereunder is to provide the maximum defense and indemnity obligations allowed by Contractor under the law. The indemnity set for th in this section shall not be limited by insurance requirements or by any other provision of this Agreement.

With ex
ception that this section shall in no event be construed to require indemnification, including the duty to defend, by Contractor to a greater extent than permitted under the public policy of the State of California, the parties agree that Contractor ’s duty to defend City is immediate and arises upon the filing of any claim against the City for damages which arise out of or are in any way connected with the work performed, materials furnished, or services provided under this Agreement by Contractor or Contractor’s officers, agents, employees, volunteers or subcontractors. Contractor’s duties and obligations to defend the City shall apply regardless of whether or not the issue of the City’s liability, breach of this Agreement, or other obligation or fault has been determined. Contractor shall be immediately obligated to pay for City’s defense costs of the claim, including, but not limited to, court costs, attorney’s fees and costs, expert consultant and witness fees and costs, other witness fees, docum ent reproduction costs, arbitration fees, and, if after final judgment an appeal is pursued, all of such costs for the appeal. At the conclusion of the claim, if there is any determination or finding of sole active negligence or willful misconduct on the part of the City, City will then reimburse Contractor for amounts paid in excess of Contractor’s proportionate share of responsibility for the damages within 30 days after Contractor provides City with copies of all bills and expenses incurred in the defense of the claim(s). It is agreed between the parties that this reimbursement provision assures Contractor is not obligated to defend or indemnify City in an amount greater than provided for under California law, including, without limitation, California Civil Code sections 2782, 2782.6, and 2782.8.

With t
he exception that this section shall in no event be construed to require indemnification by Contractor to a greater extent than permitted under the public policy of the State of California, and in addition to the other indemnity obligations in this A greement, Contractor shall indemnify, defend, and hold harmless the City of Stockton , its officers , officials, employees, and volunteers from and against all claims, losses, expenses, and costs including, but not limited to, attorneys’ fees, arising out of any claim brought against the City by an employee, office, agent, or volunteer of Contractor, regardless of whether such claim may be covered by any applicable workers compensation insurance. Contractor’s indemnifi cation obligation is not limited in any way by any limitation on the amount or type of damages, EXHIBIT 2

Page 3 of 38 ends

137
compensation, or benefits payable by or for the Contractor under workers’ compensation acts, disability acts, or other employee benefit acts.

The Cit
y’s acceptance of the insurance certificates required under this Agreement does not relieve the CONTRACTOR from its obligation under this paragraph. The indemnification obligations of this section shall survive the termination of this agreement. Any exceptions to this language may result in a proposal being deemed non-responsive.

CONTRACTOR/Subcontractor's responsibility for such defense and indemnity obligations shall survive the termination or completion of this agreement for the full period of time allowed by law.

The defense an
d indemnification obligations of this agreement are undertaken in addition to, and shall not in any way be limited by, the insurance obligations contained in this agreement.

If any section, subsection, sentence, clause or phrase of this indemnification is for any reason held to be invalid or unconstitutional, such decision shall not affect the validity of the remaining portions of this indemnification.

5. STAN
DARD PLANS AND S PECIFICATIONS. The performance of said work and the furnishing of said materials shall be executed in accordance with Section 8- 1.04B of the City of Stockton Standard Specifications and Plans as adopted on September 27, 2016, by Council Resolution No. 2016-09-27-1213, effective September 27, 2016, and the provisions of the issued project specifications.

The Dir
ect
or of Public Works will furnish CONTRACTOR a weekly statement showing the number of days charged to the contract for the preceding week, the number of days specified for completion of the contract, and the number of days remaining to complete the contract.

CONTRACTOR will be allowed one (1) week in which to file a written protest setting forth in what respects said weekly statement is incorrect, otherwise the statement shall be deemed to have been accepted by CONTRACTOR as correct.

6. WORKI
NG DAYS. This work shall be diligently prosecuted to completion before the expiration of 30 WORKING DAYS beginning on the tenth calendar day after the date shown on the Notice to Proceed. It is agreed by the parties to the contract that in case all the work called for under the contract in all parts and requirements, is not finished or completed within the number of days as set forth, damage will be sustained by the CITY, and that it is and will be impracticable and extremely difficult to ascertain the actual damage which CITY will sustain in the event of and by reason of such delay; and it is therefore agreed that CONTRACTOR will pay to CITY the sum of THIRTY-SEVEN HUNDRED AND NO/100 DOLLARS ($3,700) per day for each and every calendar day's delay in finishing the work in excess of the number of days prescribed; and CONTRACTOR agrees to pay said liquidated damages as herein provided, and in case the same are not paid, agrees that CITY, may deduct the amount thereof from any monies due or that may become due CONTRACTOR under the contract.

It is
fur
ther agreed that in case the work called for under the contract is not finished and completed in all parts and requirements within the number of days as specified, the CITY shall have the right to increase the number of days or not, as may seem best to serve the interest of CITY, and if the CITY decides to increase the said number of days, the CITY shall further have the right to charge to CONTRACTOR, CONTRACTOR's heirs, assigns or sureties, and EXHIBIT 2

Page 4 of 38 ends

138
to deduct from the final payment for the work, all or any part, as may be deemed proper, the liquidated damages as specified or the actual cost of engineering, inspection, superintendence, and other overhead expenses which are directly chargeable to the contract, and which accrue during the period of such extension, whichever is greater, except the cost of final surveys and preparation of final estimate shall not be included in such charges.

A work
ing day shall not include, nor shall CONTRACTOR be assessed with liquidated damages nor the additional cost of engineering and inspection during any delay beyond the time named for the completion of the work caused by acts of God or of the public enemy, acts of CITY, fire, floods, epidemics, quarantine restrictions, strikes, and freight embargoes and subject to approval by the Director of Public Works , inability to get materials ordered by CONTRACTOR or subcontractor due to such causes provided that CONTRACTOR shall notify the Director of Public Works in writing of the causes of delay within five (5) working days from the beginning of any such delay, and the Director shall ascertain the facts and the extent of the delay, and Director's findings of the facts thereon shall be final and conclusive.

If CO
NTRACTOR is delayed by reason of alterations made in these specifications, or by any act of the Director of Public Works or of the CITY, not contemplated by the contract, the time of completion shall be extended proportionately and CONTRACTOR shall be relieved during the period of such extension of any claim for liquidated damages, engineering or inspection charges or other penalties. CONTRACTOR shall have no claim for any other compensation for any such delay.

7. CONFO
RMANCE TO APPLICABLE LAWS. Contrac tor shall comply with all applicable Federal, State, and Municipal laws, rules, and ordinances. Contractor shall not discriminate in the employment of persons or in the provision of services under this Contract on the basis of any legally protected classification, including race, color, national origin, ancestry, sex or religion of such person.
a. TITLE V
I
Titl
e VI of the Civil Rights Act of 1964 requires that “no person in the United States shall, on the grounds of race, color, or national origin, be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any program or activity receiving federal financial assistance.” (42 USC Section 2000d) http://www.dol.gov/oasam/regs/statutes/titlevi.htm.

The Cit
y of Stockton requires compliance with the requirements of Title VI in all of its programs and activities regardless of funding source. b. DISCRIMINATION AND HARASSMENT POLICY
The Cit
y of Stockton has a Discrimination and Harassment Policy ( Exhibit C).

The purpose of this policy is to reaffirm the CITY’s commitment to demonstrating respect for all individuals by strictly prohibiting discrimination and harassment, including sexual harassment in the workplace, to define the types of behavior and conduct prohibited by this policy, and to set forth a procedure for reporting, EXHIBIT 2

Page 5 of 38 ends

139
investigating, and resolving complaints of discrimination and harassment in the workplace.
c. LABOR STANDARDS PROVISIONS/CALIFORNIA LABOR CODE
The bidder
shall understand that conditions set forth in Chapter 1, Part 7, Division 2 of the California Labor Code shall be considered part of the contract agreement.
https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=LAB &division=2.&title=&part=7.&chapter=1.&article=2.
d. PREVAILI

NG WAGE
CONT
RACTOR and any subcontractor shall pay each employee engaged in the trade or occupation not less than the prevailing hourly wage rate. In accordance with the provisions of Section 1770 of the Labor Code, the Director of Department of Industrial Relations of the State of California has determined the general prevailing wage and employer payments for health and welfare, pension, vacation, travel time, and subsistence pay as provided for in Section 1773.1 , apprenticeship or other training programs authorized by Section 3093 and similar purposes applicable to the work to be done. CONTRACTOR performing the work under this contract shall obtain a copy of the wage rate determination and shall distribute copies to each subcontractor. As the wage determination for each craft reflects an expiration date, it shall be the prime CONTRACTOR and each subcontractor's responsibility to ensure that the prevailing wage rates of concern is current and paid to the employee.
i. The CONTRACTOR performing the work shall be responsible for obtaining a copy of the State wage rate determination. State wage rates may be obtained at
http://www.dir.ca.gov/OPRL/pwd/Determinations/Northern/Northern.pdf.

The CONTRACTOR shall be responsible for posting said wage rates at a prominent location at the work site and shall maintain same in a good readable condition for the duration of the work.
ii. Should the
CONTRACTOR choose to work on a Saturday, Sunday or on a holiday recognized by the Labor Unions, the CONTRACTOR shall reimburse the CITY the actual cost of engineering, inspection, superintendence, and or other overhead expenses which are directly chargeable to the contract.

Should such work be undertaken at the request of the CITY, reimbursement will not be required. To conform strictly with the provisions of Division 2, Part 7, Chapter 1, Article 2, of the Labor Code of the State of California. To forfeit as a penalty to CITY the sum of TWENTY -FIVE AND NO/100 DOLLARS ($25.00) for each laborer, worker, or mechanic employed by CONTRACTOR, or by any subcontractor under CONTRACTOR, in the execution of this contract, for each calendar day during which any laborer, worker, or mechanic is required or permitted to work more than eight (8) hours and who is not paid the general prevailing rate of per diem wages for EXHIBIT 2

Page 6 of 38 ends

140
holiday and overtime work in violation of the provisions of Sections 1770 to 1781 of the Labor Code of the State of California. That all sums forfeited under the provisions of the foregoing sections shall be deducted from the payments to be made under the terms of this contract.
iii. The CO
NTRACTOR to whom the contract is awarded shall ensure that the prime and each subcontractor will in accordance with Section 1776 of the Labor Code, maintain certified payroll records. A copy of said records shall be provided with each invoice to the Public Works Department, Attention Contract Compliance Officer. It shall be the CONTRACTOR’S responsibility to obtain copies of the current prevailing wage rate determination for all subcontractors. Additionally, certified payroll records must be uploaded to the DIR website as required by labor code.
iv. The CON
TRACTOR shall comply with the provisions established in Section 1777.5 of the Labor Code concerning the 1) certified approval by local joint apprenticeship committees for the employment and training of apprentices, and 2) contribution of funds to administer and conduct apprenticeship programs, if applicable to the job.
e. LOCAL

EMPLOYMENT ORDINANCE
Pursua
nt to Stockton Municipal Code Section 3.68.095 the CONTRACTOR and all subcontractors shall make a good faith effort to employ at least 50 percent of the workforce on this project from local residents, as measured by total labor work hours. Failure of any CONTRACTOR or subcontractor to comply with these requirements shall be deemed a material breach of the contract or subcontract.

CONTRACTORS and subcontractors shall maintain records necessary for monitoring their compliance with section 3.68.095.
f. SANCTI
ONS
Deliv
erables must conform with all applicable federal, state, and local laws. Such conformity includes compliance with federal sanctions, and Contractor certifies that it has not and will not engage in prohibited transactions with sanctioned persons or entities.

CITY agr
ees:

8. COMP
ENSATION. To pay CONT RACTOR for the work herein contemplated in the following manner: Progress payments will be made on or about the first day of each calendar month, in such sum as shall make the aggregate of payment up to such day equal to ninety-five percent (95%) of the proportional contract price, upon the basis of the progress certificate of the Director of Public Works as to the amount of work done and the proportional amount of the contract price represented therefore; and all of the remaining part of the contract price not as aforesaid paid, shall be paid at the expiration of thirty -five (35) days from the completion of said work of construction and the certification by the Director of Public Works of such completion.

EXHIBIT 2

Page 7 of 38 ends

141

9. SECUR
ITI ES. Pursuant to Section 22300 of the Public Contract Code, CONTRACTOR will be permitted, at its request and sole expense, to substitute securities for any monies withheld by the CITY to ensure performance under the contract. Said securities will be deposited either with the CITY or with a State or federally chartered bank as escrow agent. Securities eligible for this substitution are those listed in Section 16430 of the California Government Code or bank or savings and loan certificates of deposit. CONTRACTOR shall be the beneficial owner of any securities substituted for monies withheld and shall receive any interest thereon.

10. CHANGE O
RDERS. CI TY reserves the right to make such alterations, deviations, additions to or omissions from the plans and specifications, including the right to increase or decrease the quantity of any item or portion of the work, as may be deemed by the Engineer to be necessary or advisable and to require such extra work as may be determined by the Engineer to be required for the proper completion or construction of the whole work contemplated.

Any suc
h c
hanges will be set forth in a contract change order which will specify, in addition to the work done in connection with the change made, adjustment of contract time, if any, and the basis of compensation for such work. A contract change order will not become effective until approved by the City Manager and/or the City Council.

Proces
sing of change orders shall be in accordance with Section 4- 1.05A of the City of Stockton Standard Specifications and Plans as adopted by Council on September 27, 2016, by Resolution No. 2016-09-27-1213, effective September 27, 2016, or as otherwise amended by Council. When the compensation for an item of work is subject to adjustment under the provisions of Standard Specifications and Plans, Section 4-1.05A, CONTRACTOR shall, upon request, promptly furnish the Engineer with adequate detailed cost data for such item of work.

11. AUDITS. C
ITY reserves the right to periodically audit all charges made by CONTRACTOR to CITY for services under the contract. Upon request, CONTRACTOR agrees to furnish CITY, or a designated representative, with necessary information and assistance.

CONT
RA
CTOR agrees that CITY or its delegate will have the right to review, obtain and copy all records pertaining to performance of the contract. CONTRACTOR agrees to provide CITY or its delegate with any relevant information requested and shall permit CITY or its delegate access to its premises, upon reasonable notice, during normal business hours for the purpose of interviewing employees and inspecting and copying such books, records, accounts, and other material that may be relevant to a matter under investigation for the purpose of determining compliance with this requirement. CONTRACTOR further agrees to maintain such records for a period of three (3) years after final payment under the contract. //
//
//
//
EXHIBIT 2

Page 8 of 38 ends

142

12. WAIVER. It is expressly understood and agreed by and between the parties hereto that a waiver of any of the conditions of this contract shall not be considered a waiver of any of the other conditions thereof.

It is further understood and agreed by and between the parties hereto that time is of the essence of this contract in all respects.

IN WITNESS WHEREOF, the parties hereto have hereunto affixed their hands and seals the day and year first above written.

ATTEST:

ELIZA R. GARZA

CITY CLERK
By: ___________ _
APPROVED AS TO FORM & CONTENT:

LORI M. ASUNCION

OFFICE OF THE CITY ATTORNEY
By: __________ _

DEPUTY CITY ATTORNEY
CITY:

By: __________ _

HARRY BLACK

CITY MANAGER

8.�esiden1 y. ____________ _
MCFADDEN CONSTRUCTION, INC.
68-0412254
Tax Identification No.

Local Construction Contract -MCFADDEN CONSTRUCTION, INC. PROJECT NO. WP22033 (Updated 04/24/23)
EXHIBIT 2

Page 9 of 38 ends

143

WEBER POINT EVENTS CENTER
SHADE STRUCTURE REHABILITATION- PHASE 2
PROJECT NO. WP22033

BID DING SCHEDULE
Each bidder shall bid each item, including all alternate bid(s). Failure to bid an item shall be just cause for considering the bid as non-responsive. Line item costs should include all Contractor's overhead and profit and indirect costs. Bids not presented on City forms shall be cause for considering the bid as non-responsive.
-
.-Jtem
1 2
3 4
5 (S)
6 (S)
Bid Forms
--
Description
,- - _c � ~
Mobilization
Construction Fencing
Water Pollution Control
Shade Structure Painting
Shade Structure Rehabilitation
Patterning and Detailing Services
(by Huntington Design Associates,
Inc.)
___ Unit
r;
LS
LS
LS
LS
LS
LS
Quantity Unit price
1 65,000. 00
1 7,000. 00
1 7,000. 00
1 38,000.00
1 65 0,000. 00
1 $31, 910. 00
TOTAL BID $7 98,910. 00
BIDDER'S NAME McFadden Construction, Inc.

Total Price
65,000.00
7,000. 00
7,000. 00
38,000. 00
650,000. 00
$31,910.00
Last Revised 07 /05/22
EXHIBIT 2

Page 10 of 38 ends

EXHIBIT A
144
Exhibit B:

Insurance Requirements
(Weber Point Events Center Shade Structure Rehab Ph 2)
Contracto
r shall procure and maintain for the duration of the contract, and for 5 years thereafter, insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the work hereunder by the Contractor, his agents, representatives, employees, or subcontractors.

MINIMUM SCOPE AN

D LIMIT OF INSURANCE
Coverage sh
all be at least as broad as:

1. Commercia
l General Liability (CGL): Insurance Services Office (ISO) Form CG 00 01 covering CGL on an “occurrence” basis, including products and completed operations, property damage, bodily injury and personal & advertising injury with limits no less than $2,000,000 per occurrence. If a general aggregate limit applies, either the general aggregate limit shall apply separately to this project/location (ISO CG 25 03 or 25 04) or the general aggregate limit shall be twice the required occurrence limit.

2. Automobile L
iability: Insurance Services Office Form CA 0001 covering Code 1 (any auto), with limits no less than $2,000,000 per accident for bodily injury and property damage.

3. Workers’ Comp
ensation insurance as required by the State of California, with Statutory Limits, and Employers’ Liability insurance with a limit of no less than $1,000,000 per accident for bodily injury or disease.

4. Surety Bond
s as described below.

5. Contract
ors’ Pollution Legal Liability and/or Asbestos Legal Liability and/or Errors and Omissions (if project involves environmental hazards) with limits no less than $1,000,000 per occurrence or claim, and $1,000,000 policy aggregate.

If the cont
ractor maintains broader coverage and/or higher limits than the minimums shown above, the City of Stockton requires and shall be entitled to the broader coverage and/or the higher limits maintained by the contractor. Any available insurance proceeds in excess of the specified minimum limits of insurance and coverage shall be available to the City of Stockton.

Self-Insured R
etentions
Self-insu
red retentions must be declared to and approved by the City of Stockton. The City of Stockton may require the Contractor to purchase coverage with a lower EXHIBIT 2

Page 11 of 38 ends

EXHIBIT B
145
retention or provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention. The policy language shall provide, or be endorsed to provide, that the self-insured retention may be satisfied by either the named insured or City of Stockton. The CGL and any policies, including Excess liability policies, may not be subject to a self-insured retention (SIR) or deductible that exceeds $25,000 unless approved in writing by City of Stockton. Any and all deductibles and SIRs shall be the sole responsibility of Contractor or subcontractor who procured such insurance and shall not apply to the Indemnified Additional Insured Parties. City of Stockton may deduct from any amounts otherwise due Contractor to fund the SIR/deductible. Policies shall NOT contain any self-insured retention (SIR) provision that limits the satisfaction of the SIR to the Named Insured.

The policy must also provide that Defense costs, including the Allocated Loss Adjustment Expenses, will satisfy the SIR or deductible. City of Stockton reserves the right to obtain a copy of any policies and endorsements for verification.

Other Insuranc
e Provisions
The insuranc
e policies are to contain, or be endorsed to contain, the following provisions:

1. The City of St
ockton, its officers, officials, employees, and volunteers are to be covered as additional insureds on the CGL policy with respect to liability arising out of work or operations performed by or on behalf of the Contractor including materials, parts, or equipment furnished in connection with such work or operations and automobiles owned, leased, hired, or borrowed by or on behalf of the Contractor.

General liability coverage can be provided in the form of an endorsement to the Contractor’s insurance (at least as broad as ISO Form CG 20 10 11 85 or both CG 20 10, CG 20 26, CG 20 33, or CG 20 38; and CG 20 37 forms if later revisions used).

Additional insured Name of Organization shall read “City of Stockton, its officers, officials, employees, and volunteers.” Policy shall cover City of Stockton, its officers, officials, employees, and volunteers for all locations work is done under this contract.

2. For any
claims related to this project, the Contractor’s insurance coverage shall be primary and non-contributory insurance coverage at least as broad as ISO CG 20 01 04 13 as respects the City of Stockton, its officers, officials, employees, and volunteers. Any insurance or self-insurance maintained by the City of Stockton, its officers, officials, employees, or volunteers shall be excess of the Contractor’s insurance and shall not contribute with it. This requirement shall also apply to any Excess or Umbrella liability policies. The City of Stockton does not accept endorsements limiting the Contractor’s insurance coverage to the sole negligence of the Named Insured.

3. Each ins
urance policy required by this clause shall provide that coverage shall not be canceled, except with notice to the City of Stockton.

EXHIBIT 2

Page 12 of 38 ends

EXHIBIT B
146
Claims Made Policies (Professional & Pollution only)
If any coverage required is written on a claims-made coverage form:

1. The retro
active date must be shown, and this date must be before the execution date of the contract or the beginning of contract work.

2. Insurance
must be maintained and evidence of insurance must be provided for at least five (5) years after completion of contract work.

3. If covera
ge is cancelled or non-renewed, and not replaced with another claims-made policy form with a retroactive date prior to the contract effective, or start of work date, the Contractor must purchase extended reporting period coverage for a minimum of five (5) years after completion of contract work.

4. A copy
of the claims reporting requirements must be submitted to the City of Stockton for review.

5. If the s
ervices involve lead-based paint or asbestos identification/remediation, the Contractors Pollution Liability policy shall not contain lead-based paint or asbestos exclusions. If the services involve mold identification/remediation, the Contractors Pollution Liability policy shall not contain a mold exclusion, and the definition of Pollution shall include microbial matter, including mold.

Umbrella or Excess Policies
The Contractor may use Umbrella or Excess Policies to provide the liability limits as required in this agreement. This form of insurance will be acceptable provided that all of the Primary and Umbrella or Excess Policies shall provide all of the insurance coverages herein required, including, but not limited to, primary and non-contributory, additional insured, Self-Insured Retentions (SIRs), indemnity, and defense requirements. The Umbrella or Excess policies shall be provided on a true “following form” or broader coverage basis, with coverage at least as broad as provided on the underlying Commercial General Liability insurance. No insurance policies maintained by the Additional Insureds, whether primary or excess, and which also apply to a loss covered hereunder, shall be called upon to contribute to a loss until the Contractor’s primary and excess liability policies are exhausted.

Acceptability of Insurers
Insurance is to be placed with insurers authorized to conduct business in the state with a current A.M. Best rating of no less than A: VII, unless otherwise acceptable to the City of Stockton.

Waiver of Subrogation
EXHIBIT 2

Page 13 of 38 ends

EXHIBIT B
147
Contractor hereby agrees to waive rights of subrogation which any insurer of Contractor may acquire from Contractor by virtue of the payment of any loss.

Contractor agrees to obtain any endorsement that may be necessary to affect this waiver of subrogation. The Workers’ Compensation policy shall be endorsed with a waiver of subrogation in favor of the City of Stockton for all work performed by the Contractor, its employees, agents and subcontractors.

Verification of Coverage
Contractor shall furnish the City of Stockton with original certificates and amendatory endorsements or copies of the applicable policy language effecting coverage required by this clause and a copy of the Declarations and Endorsements Pages of the CGL and any Excess policies listing all policy endorsements. All certificates and endorsements and copies of the Declarations & Endorsements pages are to be received and approved by the City of Stockton before work commences. However, failure to obtain the required documents prior to the work beginning shall not waive the Contractor’s obligation to provide them. The City of Stockton reserves the right to require complete, certified copies of all required insurance policies, including endorsements required by these specifications, at any time. City of Stockton reserves the right to modify these requirements, including limits, based on the nature of the risk, prior experience, insurer, coverage, or other special circumstances.

Subcontractors
Contractor shall require and verify that all subcontractors maintain insurance meeting all requirements stated herein, and Contractor shall ensure that City of Stockton is an additional insured on insurance required from subcontractors. For CGL coverage, subcontractors shall provide coverage with a form at least as broad as CG 20 38 04 13.

Duration of Coverage
CGL & Excess liability policies for any construction related work, including, but not limited to, maintenance, service, or repair work, shall continue coverage for a minimum of 5 years for Completed Operations liability coverage. Such Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after completion of the contract of work .

Surety Bonds
Contractor shall provide the following Surety Bonds:

1. Bid Bond

2. Performa
nce Bond

3. Payment
Bond

4. Maintena
nce Bond
EXHIBIT 2

Page 14 of 38 ends

EXHIBIT B
148
The Payment
Bond and the Performance Bond shall be in a sum equal to the contract price. If the Performance Bond provides for a one-year warranty a separate Maintenance Bond is not necessary. If the warranty period specified in the contract is for longer than one year a Maintenance Bond equal to 10% of the contract price is required. Bonds shall be duly executed by a responsible corporate surety, authorized to issue such bonds in the State of California and secured through an authorized agent with an office in California.

Special Risks or Circumstances
City of Stockton reserves the right to modify these requirements, including limits, based on the nature of the risk, prior experience, insurer, coverage, or other circumstances.

Certificat
e Holder Address
The address
for mailing certificates, endorsements and notices shall be:

City of S
tockton
Its Officers, Officials, Employees and Volunteers
400 E Main Street, 3rd Floor – HR
Stockton, CA 95202
EXHIBIT 2

Page 15 of 38 ends

EXHIBIT B
149
EXHIBIT 2

Page 16 of 38 ends

EXHIBIT C
150
EXHIBIT 2

Page 17 of 38 ends

EXHIBIT C
151
EXHIBIT 2

Page 18 of 38 ends

EXHIBIT C
152
EXHIBIT 2

Page 19 of 38 ends

EXHIBIT C
153
EXHIBIT 2

Page 20 of 38 ends

EXHIBIT C
154
EXHIBIT 2

Page 21 of 38 ends

EXHIBIT C
155
EXHIBIT 2

Page 22 of 38 ends

EXHIBIT C
156
EXHIBIT 2

Page 23 of 38 ends

EXHIBIT C
157
EXHIBIT 2

Page 24 of 38 ends

EXHIBIT C
158
EXHIBIT 2

Page 25 of 38 ends

EXHIBIT C
159
EXHIBIT 2

Page 26 of 38 ends

EXHIBIT C
160
EXHIBIT 2

Page 27 of 38 ends

EXHIBIT C
161
EXHIBIT 2

Page 28 of 38 ends

EXHIBIT C
162
EXHIBIT 2

Page 29 of 38 ends

EXHIBIT C
163

PAYMENT BOND

PUBLIC WORK
Section 324 7-3252 inclusive, Civil code)
(Premium included in Faithful Perfonnance Bond)
KNOW ALL MEN BY THESE PRESENT:

That, Whereas
City of Stockton
has awarded to
McFadden Construction, Inc.

Bond No. _94_1_ 9_8_72 ___ _
as Principal, a contract for the work described as follows: ___________________ _ WEBER POINT EVENTSCENTER SHADE STRUCTURE REHABILITATION- PHASE 2 PROJECT NO. WP22033
AND WHEREAS, said Principal is required ad to furnish a bond in connection with said contract, to secure the payment of claims of laborers, mechanics, materialmen, and other persons as provided by law:

NOW, THEREFORE, We the undersigned Principal and Surety are held and firmly bound unto the City of Stockton
in the amount required by law, the sum of
Seven Hundred Ninety Eight Thousand Nine Hundred Ten and 00/1 00 Dollars($ 798,910. 00 ) for which payment well and truly be made 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 said Principal, his or its heirs, executors, administrators, successors or assigns, or subcontractors, shall fail to pay any of the persons named in Civil Code Section 3181, or amounts due under the Unemployment's Insurance Act with respect to work or labor perfom1ed by any such claimant, or for any amounts required to be deducted, withheld, and paid over the Employment Development Department from the wages of employees of the principals and his subcontractors pursuant to section 13 020 of the Unemployment Insurance Code, with respect to such work and labor, that the Surety or Sureties herein will pay for the same in the amount not exceeding the sum specified in this bond, otherwise the above obligation shall be void. In case suit is brought upon this bond, the said surety will pay a reasonable attorney's fee to be fixed by the court.

PA Y7 l 00 I CA0202f
EXHIBIT 2

Page 30 of 38 ends

164
In witness Whereof, We have hereunto set our hand and seals this 23rd -------------- day of October _2_0_2 _3 __ _
McFadden Construction, Inc.

Principal
By�-
-..?u°rtMcFadden,resint
Fidelity and Deposit Company of Maryland
By:A,/t. 1 lvw�
.}� 4 ,7
Stanley J . .::cl.v'l.awanga , Attorney-In-Fact
EXHIBIT 2

Page 31 of 38 ends

165

ZURICH AMERICAN INSURANCE COMPANY

COLONIAL AMERICAN CASUAL TY AND SURETY COMPANY

FIDELITY AND DEPOSIT COMPANY OF MARYLAND

POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS: That the ZURICH AMERICAN INSURANCE COMPANY, a corporation of the State of New York, the COLONIAL AMERICAN CASUAL TY AND SURETY COMPANY, a corporation of the State of Illinois, and the FIDELITY AND DEPOSIT COMPANY OF MARYLAND a corporation of the State of Illinois (herein collectively called the "Companies"), by Robert D. Murray, Vice President, in pursuance of authority granted by Article V, Section 8, of the By-Laws of said Companies, which are set forth on the reverse side hereof and are hereby certified to be in full force and effect on the date hereof, do hereby nominate, constitute, and appoint Stanley J. MATRANGA and Eric V. MATRANGA, both of Granite Bay, California, EACH, its true and lawful agent and Attorney-in-Fact, to make, execute, seal and deliver, for, and on its behalf as surety, and as its act and deed: any and all bonds and undertakings, and the execution of such bonds or undertakings in pursuance of these presents, shall be as binding upon said Companies, as fully and amply, to all intents and purposes, as if they had been duly executed and acknowledged by the regularly elected officers of the ZURICH AMERICAN INSURANCE COMPANY at its office in New York, New York., the regularly elected officers of the COLONIAL AMERICAN CASUAL TY AND SURETY COMPANY at its office in Owings Mills, Maryland., and the regularly elected officers of the FIDELITY AND DEPOSIT COMPANY OF MARYLAND at its office in Owings Mills, Maryland., in their own proper persons.

The said Vice President does hereby certify that the extract set forth on the reverse side hereof is a true copy of Article V, Section 8, of the By-Laws of said Companies, and is now in force.

IN WITNESS WHEREOF, the said Vice-President has hereunto subscribed his/her names and affixed the Corporate Seals of the said ZURICH AMERICAN INSURANCE COMPANY, COLONIAL AMERICAN CASUAL TY AND SURETY COMPANY, and FIDELITY AND DEPOSIT COMPANY OF MARYLAND, this 13th day of August, A.O. 2019.

By: Robert D. Murray
Vice President
By: Dawn E. Brown
Secre/a,y
State of Maryland
County of Baltimore
ATTEST:

ZURICH AMERICAN INSURANCE COMPANY

COLONIAL AMERICAN CASUALTY AND SURETY COMPANY

FIDELITY AND DEPOSIT COMPANY OF MARYLAND
On this 13th day of August, A.D. 2019, before the subscriber, a Notary Public of the State of Maryland, duly commissioned and qualified, Robert D.

Murray, Vice President and Dawn E. Brown, Secretary of the Companies, to me personally known to be the individuals and officers described in and who executed the preceding instrument, and acknowledged the execution of same, and being by me duly sworn, deposeth and saith, that he/she is the said officer of the Company aforesaid, and that the seals affixed to the preceding instrument are the Corporate Seals of said Companies, and that the said Corporate Seals and the signature as such officer were duly affixed and subscribed to the said instrument by the authority and direction of the said Corporations.

IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my Official Seal the day and year first above written. �Cl.�
Constance A. Dunn, Notary Public
My Commission Expires: July 9, 2023
EXHIBIT 2

Page 32 of 38 ends

166
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

State of California
County of _P_la_c_e_r __________ _
On October 23, 2023 before me, E ric Matranga, Notary Public Date
personally appeared Stanley J. Matranga
Here Insert Name and Title of the Officer
Name(s) of Signer(s)
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/a-Fe subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/hefftl::leir authorized capacityfies}, and that by his/her/their signature(s) on the instrument the person(51, or the entity upon behalf of which the person(s} acted, executed the instrument. eo•••••7

ERIC MATRANGA
Notary Public - California�
Placer County �
Commission# 2396142 -
y Comm. Expires Mar 8,
Place Notary Seal Above
I certify under PENAL TY 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 __ ..... £��--�-�---==-----
Signature of Notary Public
---------------oPTIONAL---------------
Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document.

Description of Attached Document
Title or Type of Document: _____________ Document Date: _______ _ Number of Pages: ___ Signer(s) Other Than Named Above: ____________ _ Capacity(ies) Claimed by Signer(s)
Signer's Name: ____________ _
C Corporate Officer - Title(s): ______ _
C Partner - C Limited C General
CJ Individual [l Attorney in Fact
C Trustee C Guardian or Conservator
CJ Other: ______________ _
Signer Is Representing: _________ _
Signer's Name: ____________ _
C Corporate Officer - Title(s): ______ _
C Partner - C Limited C General
[J Individual [] Attorney in Fact
C Trustee C Guardian or Conservator
Other: ______________ _
Signer Is Representing: _________ _
©2014 National Notary Association· www.NationalNotary.org • 1-800-US NOTARY (1-800-876-6827) Item #5907 EXHIBIT 2

Page 33 of 38 ends

167

ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or
validity of that document.

State of California
County of San Jo aquin
on Octo ber 24, 2023 before me, Dustin J. Ketterling, Notary Public (insert name and title of the officer)
personally appeared _K_u_r_t_M_c_F_a_d_d_e_n ____________________ _ who proved to me on the basis of satisfactory evidence to be the person(?' )
' whose name(.s1 is/are
subscribed to the within instrument and acknowledged to me that he/she/.they executed the same in his/her-I-their-authorized capacity(leSJ-;- and that by his/.1:ler/.tl:leir signature(-s1-0n the instrument the person,(.s-), or the entity upon behalf of which the persoo.(s') acted, executed the instrument.

I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.
(Seal)

ETTERLING
UC· CALIFORNIA --<
ION # 2384720 e
QUIN COUNTY �
. December 24, 2025
EXHIBIT 2

Page 34 of 38 ends

168

FAITHFUL PERFORMANCE BOND

PUBLIC WORK
Bond No 9419872
(The premium charged on this bond is $ 6,923.00 , being at the rate of $8.66 per thousand of the contract price)
KNOW ALL MEN BY THESE PRESENTS:

THAT, WHEREAS the City of Stockton ---------------------------------- State of California, entered into a contract dated ________________ _ _2 _
02_3 ___ , with
McFadden Construction, Inc.
____________________________ hereinafter designated as the "Principal," for the work described as follows: ______________________________ _ WEBER POINT EVENTSCENTER SHADE STRUCTURE REHABTLIT A TTON - PHASE 2 PROJECT NO. WP 2203 3 ; and ----------------------------------------- WHEREAS, the said Principal is required under the terms of said contract to furnish a bond for the faithful performance of said contract.

NOW, THEREFORE, We, the Principal, and Fidelity and Deposit Company of Maryland a corporation organized and existing under the laws of the State of Maryland , and duly authorized to transact business under the laws of the State of California, as Surety, are held and firmly bound unto City of Stockton in the penal sum of
Seven Hundred Ninety Eight Thousand Nine Hundred Ten and 00/100 Dollars($ 798, 910.00 --------��---------------------- ), lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally, firmly by these presents.

THE CONDITION OF THIS OBLIGATION IS SUCH, That, if the above bounden 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 and agreements in the said contract and any alteration thereof made as therein provided, on his or 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 shall indemnify and save harmless the City of Stockton its officers and agents, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and virtue.

And the said Surety, for value received, hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the contract or to the work to be perfo1med thereunder or the specifications accompanying the same shall in any wise affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract or to the work or to the specifications.

IN WITNESS WHEREOF, We have hereunto set our hands and seals this 23rd day of_O _
c
_
to_b
_
e
_
r ____ ,_2_0 _2 3_.

PRF7 I 00 I CA020 If
By
McFadden Construction, Inc.

Principal
.-�-�-rt-=--M-c�F_a_d_d _e�n,""P_ r_e_s=id=e-n�t
'--------------
Fidelity and Deposit Company of Maryland
By /.J4.L, � liiz:;--<=
Stanley J .;,katra'hga d' , ·Attorney-in-Fact
EXHIBIT 2

Page 35 of 38 ends

169

ZURICH AMERICAN INSURANCE COMPANY

COLONIAL AMERICAN CASUALTY AND SURETY COMPANY

FIDELITY AND DEPOSIT COMPANY OF MARYLAND

POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS: That the ZURICH AMERICAN INSURANCE COMPANY, a corporation of the State of New York, the COLONIAL AMERICAN CASUAL TY AND SURETY COMPANY, a corporation of the State of Illinois, and the FIDELITY AND DEPOSIT COMPANY OF MARYLAND a corporation of the State of Illinois (herein collectively called the "Companies"), by Robert D. Murray, Vice President, in pursuance of authority granted by Article V, Section 8, of the By-Laws of said Companies, which are set forth on the reverse side hereof and are hereby certified to be in full force and effect on the date hereof, do hereby nominate, constitute, and appoint Stanley J. MATRANGA and Eric V. MATRANGA, both of Granite Bay, California, EACH, its true and lawful agent and Attorney-in-Fact, to make, execute, seal and deliver, for, and on its behalf as surety, and as its act and deed: any and all bonds and undertakings, and the execution of such bonds or undertakings in pursuance of these presents, shall be as binding upon said Companies, as fully and amply, to all intents and purposes, as if they had been duly executed and acknowledged by the regularly elected officers of the ZURICH AMERICAN INSURANCE COMPANY at its office in New York, New York., the regularly elected officers of the COLONIAL AMERICAN CASUALTY AND SURETY COMPANY at its office in Owings Mills, Maryland., and the regularly elected officers of the FIDELITY AND DEPOSIT COMPANY OF MARYLAND at its office in Owings Mills, Maryland., in their own proper persons.

The said Vice President does hereby certify that the extract set forth on the reverse side hereof is a true copy of Article V, Section 8, of the By-Laws of said Companies, and is now in force.

By: Robert D. Murray
Vice President
By: Dawn E. Brown
Secretary
State of Maryland
County of Baltimore
ATTEST:

ZURICH AMERICAN INSURANCE COMPANY

COLONIAL AMERICAN CASUALTY AND SURETY COMPANY

FIDELITY AND DEPOSIT COMPANY OF MARYLAND
On this 13th day of August, A.O. 2019, before the subscriber, a Notary Public of the State of Maryland, duly commissioned and qualified, Robert D.

Murray, Vice President and Dawn E. Brown, Secretary of the Companies, to me personally known to be the individuals and officers described in and who executed the preceding instrument, and acknowledged the execution of same, and being by me dt1ly sworn, deposeth and saith, that he/she is the said officer of the Company aforesaid, and that the seals affixed to the preceding instrument are the Corporate Seals of said Companies, and that the said Corporate Seals and the signature as such officer were duly affixed and subscribed to the said instrument by the authority and direction of the said Corporations.

IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my Official Seal the day and year first above written.

Constance A. Dunn, Notary Public
My Commission Expires: July 9, 2023
EXHIBIT 2

Page 36 of 38 ends

170
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE§ 1189
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

State of California
County of _P_la_c_e_r __________ _
On October 23, 2023 before me, E ric Matranga, Notary Public Date
personally appeared Stanley J. Matranga
Here Insert Name and Title of the Officer
Name(s) of Signer(s)
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/aF& subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity�, and that by his/Aefl#leil: signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. eeceaeee
� ERIC MATRANGA
Notary Public - California z
Placer County �
Commission# 2396142 -
y Comm. Expires Mar 8, 2026
Place Notary Seal Above
I certify under PENAL TY 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 __ iz�----�------,=-�-----
Signature of Notary Public
---------------oPTTONAL---------------
Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document.

Description of Attached Document
Title or Type of Document: _____________ Document Date: _______ _ Number of Pages: ___ Signer(s) Other Than Named Above: ____________ _ Capacity(ies) Claimed by Signer(s)
Signer's Name: ____________ _
C] Corporate Officer - Title(s): ______ _
CJ Partner - CJ Limited CJ General
[:J Individual [] Attorney in Fact
CJ Trustee D Guardian or Conservator
[J Other: ______________ _
Signer Is Representing: _________ _
Signer's Name: ____________ _
D Corporate Officer - Title(s): ______ _
[J Partner - CJ Limited CJ General
Cl Individual [J Attorney in Fact
D Trustee D Guardian or Conservator
[J Other: ______________ _
Signer Is Representing: _________ _
©2014 National Notary Association· www.NationalNotary.org • 1-800-US NOTARY (1-800-876-6827) Item #5907 EXHIBIT 2

Page 37 of 38 ends

171

State of California
County of San Joaquin
on October 24, 2023 before me, Dustin J. Ketterling, Notary Public (insert name and title of the officer)
personally appeared Kurt McFadden---------------------,-----------,----who proved to me on the basis of satisfactory evidence to be the person(�')' whose name(,s; is/aFe- subscribed to the within instrument and acknowledged to me that he/sl:ie/.tl:iey executed the same in his/1:!er-/-their·authorized capacity(ies};- and that by hislher/.their signature(-s)-0n the instrument the person,(.s·), or the entity upon behalf of which the persoo.(s') acted, executed the instrument.

I certify under PENAL TY 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 ___ t-��-==-;!i.,,,_,_�-- ----'=.-�- (Seal)
DUSTIN J. KETTERLING
NOTARY PUBLIC• CALIFORNIA ::I COMMISSION # 23B4720 �
SAN JOAQUIN COUNTY ...

My Comm. Exp. December 24, 2025
EXHIBIT 2

Page 38 of 38 ends

172
City of Stockton
Legislation Text
File #: 23-0875, Version: 2
ADOPT RESOLUTION TO AUTHORIZE THE STREETLIGHT POLE REPLACEMENT FY 2022-23 SB1 PROJECT

RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Approve Notice of Exemption No. NOE38-23 under the California Environmental Quality Act for the Streetlight Pole Replacement FY 2022-23 SB1, Project No. WD23006.

2. Approve the plans and specifications for the Streetlight Pole Replacement FY 2022-23 SB1, Project No. WD23006.

3. Award a Construction Contract in the amount of $223,300 to St. Francis Electric, LLC of San Leandro, CA, for the Streetlight Pole Replacement FY 2022-23 SB1, Project No. WD23006.

It is also recommended that the City Manager be authorized to take appropriate and necessary actions to carry out the purpose and intent of this resolution.

Summary
The Streetlight Pole Replacement FY 2022-23 SB1 project will remove and replace 21 existing non- standard streetlight poles that have exceeded their life expectancy with new galvanized streetlight poles. (Attachment A). The project was included in the 2022-27 Five-Year Capital Improvement Plan (CIP).

On July 27, 2023, the City received five bids for this project. Staff recommends award of the Construction Contract to the lowest responsive bidder, St. Francis Electric, LLC, in the amount of $223,300. Staff also recommends that Council adopt a resolution approving Notice of Exemption No.

NOE38-23 under the California Environmental Quality Act (CEQA) and approving the plans and specifications for the project. Construction is anticipated to begin and be completed by winter 2023, weather permitting.

DISCUSSION
Background
The City is responsible for the operation and maintenance of approximately 19,000 streetlights. The majority of these streetlights are mounted on galvanized poles. The Streetlight Pole Replacement FY 2021-22 SB1, Project No. WD22006, replaced 10 existing non-galvanized poles with new galvanized poles; therefore, approximately 52 streetlight poles are non-galvanized. These non-galvanized poles rust over time.

City of Stockton Printed on 11/9/2023Page 1 of 3
powered by Legistar™
173
File #: 23-0875, Version: 2
The Streetlight Pole Replacement FY 2022-23 SB1 project will remove and replace 21 existing non- galvanized poles that have exceeded their life expectancy with new galvanized streetlight poles (Attachment A). The remaining 31 non-galvanized streetlight poles will be removed and replaced in future phases as warranted by changing conditions and/or as additional funding becomes available.

Present Situation
On July 6, 2023, the Streetlight Pole Replacement FY 2022-23 SB1, Project No. WD23006, was advertised for bids. On July 27, 2023, five bids were received with the following results:

COMPANY NAME BID AMOUNT ADJUSTED BID AMOUNT
(local preference applied)
St. Francis Electric, LLC
(San Leandro, CA) $223,300.00 $223,300.00
Bockman & Woody Electric Co, Inc.
(Stockton, CA) $259,030.00 $246,078.50
Bear Electrical Solutions, Inc.
(Alviso, CA) $247,850.00 $247,850.00
Ray’s Electric
(Oakland, CA) $258,458.00 $258,458.00
Tennyson Electric, Inc.
(Livermore, CA) $290,500.00 $290,500.00
Engineer’s Estimate $208,000.00
The requirements of Stockton Municipal Code (SMC) section 3.68.090, Local Business Preference, apply to this project. Application of the Local Business Preference has no effect on the bid order. The Local Employment Ordinance, SMC section 3.68.095, also applies to this contract.

The bid from St. Francis Electric, LLC, the lowest responsive bidder, is regular in all respects and has the proper license to perform the work. Staff recommends Council approve the plans and specifications for the project and award a Construction Contract to St. Francis Electric, LLC of San Leandro, CA, in the amount of $223,300.

The project is in conformance with the City’s General Plan, pursuant to California Government Code, section 65402, and is categorically exempt from the requirements of CEQA as specified under City of Stockton Printed on 11/9/2023Page 2 of 3
powered by Legistar™
174
File #: 23-0875, Version: 2
Section 15301(c) of the CEQA Guidelines. As a result, the project has been granted a Categorical Exemption. The activities related to this project constitute a discretionary project under the City’s jurisdiction and qualifies as a project that does not have a significant effect on the environment. The resolution will approve the filing of Notice of Exemption No. NOE38-23 under CEQA. Construction is anticipated to begin and be completed by winter of 2023, weather permitting.

FINANCIAL SUMMARY
There are sufficient funds available in the Streetlight Pole Replacement FY 2022-23 SB1, Project No.

WD23006, Account No. 4570-715-800007-240-241-30-45-000-000, to award a Construction Contract to St. Francis Electric, LLC in the amount of $223,300 for the Streetlight Pole Replacement FY 2022- 23 SB1, Project No. WD23006.

There is no impact to the City’s General Fund or any other unrestricted fund as a result of taking the recommended actions.

Attachment A - Vicinity Map
City of Stockton Printed on 11/9/2023Page 3 of 3
powered by Legistar™
175
TY
SBURG
GON-
CT
LONG

PORTER AV
FE
RN
FOX

SWAIN RD
CT

VIRTUE ARCDR
DANTE
SW
ALLOW
CI

MITCHLER

WOODLAND DR

ONEWY SERENADE

BUCKINGHAM

BELLINIWY
PIPER
AV
DOLA
PL
CT
VEN
ECHO

SAN ROCCO
BU
PL
W
Y
SPARR
OW

STRATFORD
SILVER
WY

SWAIN RD
PO

BASILICADR
PT

CASCADE
DOU
ST
CI

PASSERO

ROBINHOOD DR
CREEK
WY

LONGVIEW AV
LN

VERONESE
ST
WY

BURKE BRADLEYD
R

BLACK OAK DR
W
Y
GLEN
TREE
CI
WY
D
ST
BAR
N
RIVA
ST
SAND-
CT

PORTER WY

PERSHING AV
PL
!(
!(
!(
!(
!( !(
!(
!( !( !(
!(
!( !(
!(
!(
!( !(
!(
!(
!(
6840
6296
6293
6834
6833
6832
6837
6838
682468256826
6826829
6298
6297
6295
6290
6291
6292
6294
q
0 0.06 0.12 0.18 0.240.03
Miles
LEGEND
!( Pole & Foundation Replacement
!( Pole Replacement

CITY OF STOCKTON

DEPARTMENT OF PUBLIC WORKS

ATTACHMENT A
6839
Overhead Connection
Underground Connection
Streetlight Pole Replacement FY 2022-23 SB1
Project No. WD23006
176
Resolution No.

STOCKTON CITY COUNCIL

RESOLUTION APPROVING NOTICE OF EXEMPTION NO. NOE38-23, APPROVING

THE PLANS AND SPECIF ICATIONS, AND AWARDING A CON STRUCTION CONTRACT FOR THE STR EETLIGHT POLE REPLAC EMENT FY 2022 -23 SB1 , PROJECT NO. WD23006

On July 27, 2023, the City Clerk of the City of Stockton opened, examined, and publicly declared the sealed proposals or bids offered for the Streetlight Pole Replacement FY 2022-23 SB1, Project No. WD23006; and

The project will remove and replace 21 existing non-standard streetlight poles that have exceeded their life expectancy with new galvanized streetlight poles; and

St. Francis Electric, LLC, is the lowest responsive bidder in the amount of $223,300, and its bid is regular in all respects; and

The project is categorically exempt from the requirements of the California Environmental Quality Act (CEQA) as specified under Section 15301(c) of the CEQA Guidelines, because this is a discretionary project under the City’s jurisdiction and qualifies as a project which has been determined to not have a significant effect on the environment; now, therefore,

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STOCKTON , AS FOLLOWS:

1. The City Council approves the filing of Notice of Exemption No. NOE38-23 under CEQA for the Streetlight Pole Replacement FY 2022 -23 SB1, Project No.

WD23006, a copy of which is attached as Exhibit 1 and incorporated by this reference.

2. The City Council approves the plans and specifications for the Streetli ght Pole Replacement FY 2022-23 SB1, Project No. WD23006.

3. The City Council awards a Construction Contract between the City of Stockton and St. Francis Electric, LLC, in the amount of $223,300, and the City Manager is authorized and directed to execute same, a copy of which is attached as Exhibit 2 and incorporated by this reference.

///
///
///
177
The City Manager is hereby authorized to take whatever actions are necessary and appropriate to carry out the purpose and intent of this Resolution.

PASSED, APPROVED, and ADOPTED November 14, 2023 .

__________________________
KEVIN J. LINCOLN II
Mayor of the City of Stockton

ATTEST:

____________________________
ELIZA R. GARZA, CMC
City Clerk of the City of Stockton

178

CITY OF STOCKTON

NOTICE OF EXEMPTION
T
O: COUNTY CLERK FROM: Lead Agency
CO UNTY OF SAN JOAQUIN City of Stockton
44 N. San Joaquin St., Ste. 260 c/o Public Works Department Stockton, CA 95202 22 East Weber Avenue, Suite 301
Stockton, CA 95202
N
OTICE OF EXEMPTION PURSUANT TO PUBLIC RESOURCES CODE SECTION 21152(B) AND CALIFORNIA CODE OF REGULATIONS TITLE 14, SECTION 15062
P

ROJECT DATA
P
roject Title: Streetlight Pole Replacement FY 2022-23 SB1, Project No. WD23006 CEQA Exemption File No.: NOE 38-23
Applicant: City of Stockton Public Works Department
Project Description/Location: The City of St ockton’s Public Works Depar tment will be r emoving and replacing existing streetlight poles with brand new galvanized streetlight poles. See attachment A for more information.

ETERMINATION/FINDING OF EXEMPTION
Th
e above-described activit y/project i s exempt from the env ironmental as sessment requirements of the Ca lifornia Environmental Quality Act (CEQA) pursuant to the following section(s) of the State CEQA Guidelines (California Code of Regulations, Title 14):

T
he activity is not a "project" as defined in CEQA Guidelines Section 15378.

T he ac tivity is exempt under the "general rule" at CEQA Guidelines Section15061(B)(3).

X T he pr oject is "Statutorily Exempt" per CEQA Guidelines Section: 15301(c).

T he project is "Categorical ly Exempt" per CEQA Guidelines Section 15332.

BAS

IS FOR FINDING OF EXEMPTION
T he activity does not qualify as a project and/or clearly could not have a significant effect on the environment and, therefore, CEQA does not apply.

X The activity constitutes a discretionary project under the City's jurisdiction and qualifies as a project which has been determined not to have a significant effect on the environment and, therefo re, is exempt from the provisions of CEQA under the above-noted statutory or categorical exemption(s).

JOD
I ALMASSY, DIRECTOR July 24, 2023

PUBLIC WORKS DEPARTMENT (DATE OF PREPARATION)
By

Amanpreet Grewal, Project Manager (DATE OF FINAL APPROVAL) _____________________________________________________________________________________________ AF

FIDAVIT OF FILING AND POSTING
I dec
lare that on the date stamped above, I received and posted this notice or included it on a list of such notices which was posted as required by California Public Resources Code Section 21152(B). Said notice or list of notices will remain posted for 35 days from the filing date.
___________________________________________ ________________________________________________ Signature Title
_______________________
__________________
Posting Period Ending Date
08/04/23
EXHIBIT 1
179
Local Construction Contract -ST. FRANCIS ELECTRIC, LLC– PROJECT NO. WD22006 (Updated 04/24/23) CONSTR

UCTION CONTRACT
This contract is made and entered into on _____________, by and between ST.

FRANCIS ELECTRIC, LLC, , a STATE OF CALIFORNIA CORPORATION, with a business address at 975 CARDEN STREET, SAN LEANDRO, CA 94577 , hereinafter called "CONTRACTOR," and CITY OF STOCKTON, a municipal corporation, hereinafter called "CITY."
W I T N E S S E T H:

WHEREAS, plans and specifications for the construction of ST

REETLIGHT POLE
REPLACEMENT FY 2022-23 SB1 (PROJECT NO. WD23006) , hereinafter called “PROJECT,” were regularly adopted by Council Resolution No. __________________, on _________________; and
WHEREAS, the contract for said work was regularly awarded to CONTRACTOR, by Council Resolution No. __________________, on ________________.

NOW, THEREFORE, in consideration of the promises and of the mutual covenants herein contained, the parties hereto expressly agree as follows:

CONTRACTOR agrees:

1. SCOPE OF SERVICES. To do the work and furnish all the labor, materials, tools, equipment, and insurance required for the construction of PROJECT in accordance with the plans and specificat ions adopted on _____________, by Council Resolution No. __________________ . The "contract documents, " which include the bid documents, project plans, specifications, all letters of clarification, and the City of Stockton Standard Specifications and Plans, are incorporated into and made a part of this contract by this reference to the same extent as if fully set forth.

2. COMPENSATION. To do and perform the work contemplated hereby in a good and workmanlike manner and to furnish all labor, materials, tools, and equipment necessary therefore at the prices specified in Exhibit A, attached hereto and by reference made a part hereof, under the direction of and to the complete satisfaction of the Director of Public Works of the Cit y of Stockton. Total compensation for services and reimbursement for costs shall not exceed 223,300.00 or as otherwise mutually agreed to in a Contract Change Order.

3. INSURANCE. CONTRACTOR shall not co mmence any work before obtaining, and shall maintain in force at all times during the duration and performance of this contract, the policies of insurance specified in Exhibit B, which is attached to this contract and incorporated by this reference, and as provided in the “contract documents” including Section 7-1.06 of the City of Stockt on Standard Specifications and Plans as adopted on September 27, 2016, by Council Resolution No. 2016-09-27-1213, effective September 27, 2016.

Page 1 of 34 ends

City Council and Concurrent AuthoritiesNovember 14, 2023

City Council and Concurrent Authorities
November 14, 2023