Agenda packet — City Council and Concurrent Authorities, April 16, 2024 (part 1 of 4)

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
3:00 PMTuesday, April 16, 2024
Closed Session 3:00 PM :: Regular Session 5:30 PM

1. CLOSED SESSION CALL TO ORDER/ROLL CALL

2. ADDITIONS TO CLOSED SESSION AGENDA

3. ANNOUNCEMENT OF CLOSED SESSION

3.1 24-0274

CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION
Number of Cases: Two
Name of Case: Police Officer Jay Scoffield, (Workers’
Compensation Appeals Board Case No.

ADJ9381878)
Name of Case: Police Officer Samnang Ven, (Workers’
Compensation Appeals Board Case Nos.

ADJ14219047, ADJ12075388, ADJ11112637)
This Closed Session is authorized pursuant to section 54956.9(d)(1) of the Government Code to discuss matters pertaining to existing litigation.

Department: City Attorney

3.2 24-0371 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.

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1 April 16, 2024City Council/Successor Agency to
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
Department: City Attorney

3.3 24-0373 PUBLIC EMPLOYMENT:

Recommended Action: City Clerk
This Closed Session is authorized pursuant to Government Code section 54957(b).

Department: City Attorney

3.4 24-0377 PUBLIC EMPLOYEE APPOINTMENT:

Recommended Action: City Clerk
This Closed Session is authorized pursuant to Government Code section 54957(b).

Department: City Attorney

3.5 24-0372 PUBLIC EMPLOYEE PERFORMANCE EVALUATION:

Recommended Action: City Manager
This Closed Session is authorized pursuant to Government Code section 54957(b).

Department: City Attorney

3.6 24-0374 PUBLIC EMPLOYEE PERFORMANCE EVALUATION:

Recommended Action: City Attorney
This Closed Session is authorized pursuant to Government Code section 54957(b).

Department: City Attorney

3.7 24-0376 CONFERENCE WITH LEGAL COUNSEL - ANTICIPATED

LITIGATION
Number of Cases: One
Based on existing facts and circumstances, the legislative body of the local agency has decided to initiate or is deciding whether to initiate litigation pursuant to Government Code section 54956.9(d)(4).

Department: City Attorney

4. CLOSED SESSION PUBLIC COMMENT*

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2 April 16, 2024City Council/Successor Agency to
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Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final

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

10.1 24-0382
PROCLAMATION: DONATE LIFE MONTH - APRIL 2024
Department: Office of the Mayor

10.2 24-0383 PROCLAMATION: 2024 EARTH DAY
Department: Office of the Mayor

11. PUBLIC COMMENTS* – MATTERS NOT ON THE AGENDA

12. CONSENT AGENDA

12.1 24-0353 ACCEPT THE QUARTERLY INVESTMENT REPORT FOR QUARTER ENDED DECEMBER 31, 2023
Recommended Action: RECOMMENDATION
It is recommended that the City Council accept by motion the Quarterly Investment Report for the quarter ended December 31, 2023.

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

12.2 24-0359 APPROVAL OF CITY COUNCIL MINUTES
Recommended Action: RECOMMENDATION
Approve the minutes from the City Council meeting of January 9, 2024; February 21, 2024; February 28, 2024; March 12, 2024; and March 19, 2024
Department: City Clerk

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3 April 16, 2024City Council/Successor Agency to
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Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
Attachment A - 2024-01-09.pdf
Attachment B - 2024-02-21.pdf
Attachment C - 2024-02-28.pdf
Attachment D - 2024-03-12.pdf
Attachment E - 2024-03-19.pdf
Attachments:

12.3 24-0351 ADOPT A RESOLUTION APPOINTING A MEMBER OF THE STRONG

COMMUNITIES ADVISORY COMMITTEE
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution appointing Ernesto Gonzalez to the Strong Communities Advisory Committee to fill a term commencing immediately appointment and ending January 31, 2025 Department: City Clerk
Attachment A - Redacted Application.pdf
Proposed Resolution
Attachments:

12.4 24-0365 RATIFYING THE SAN JOAQUIN COUNCIL OF GOVERNMENTS’ ANNUAL FINANCIAL PLAN FOR FISCAL YEAR 2024-25
Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to ratify the San Joaquin Council of Governments' Annual Financial Plan for Fiscal Year 2024-25.

Department: City Manager
Attachment A - SJCOG FY 2024-2025 Annual Financial PlanAttachments:

12.5 22-0924

ADOPT A RESOLUTION AUTHORIZING THE CITY MANAGER, OR

HIS DESIGNEE, TO APPLY TO THE SAN JOAQUIN COUNCIL OF
GOVERNMENTS FOR REGIONAL EARLY ACTION PLANNING 2.0
GRANT PROGRAM (REAP 2.0) FUNDS IN THE AMOUNT OF
$969,000 AND, IF AWARDED, AUTHORIZE THE CITY MANAGER

TO EXECUTE THE AGREEMENT WITH THE SAN JOAQUIN

COUNCIL OF GOVERNMENTS

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4 April 16, 2024City Council/Successor Agency to
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Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
Recommended Action:

RECOMMENDATION
It is recommended that the City Council:

1. Adopt a Resolution authorizing the City Manager, or his designee, to apply to the San Joaquin Council of Governments (SJCOG) for Regional Early Action Planning 2.0 Grant Program (REAP 2.0) funds for an amount estimated to be $969,000; and

2. If awarded, authorize the City Manager to execute the agreement with SJCOG and take whatever actions are necessary and appropriate to carry out the purpose and intent of the resolution.

Department: Community Development
Proposed ResolutionAttachments:

12.6 24-0039 ADOPT A RESOLUTION AUTHORIZING THE GRANT OF A UTILITY

EASEMENT TO PACIFIC GAS AND ELECTRIC COMPANY LOCATED
AT 666 WEST WEBER AVENUE
Recommended Action:

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

1. Authorize the granting of a permanent underground utility easement to Pacific Gas and Electric Company (PG&E) over a portion of a parcel owned by the City of Stockton located at 666 West Weber Avenue (APN 137-370-02) for new electrical facilities to serve New City Hall; and

2. Authorize the City Manager to take whatever actions are necessary and appropriate to carry out the purposes of the Resolution.

Department: Economic Development
Attachment A - Vicinity Map - 666 West Weber Ave
Attachment B - Aerial Map - 666 West Weber Ave
Attachment C - Easement Location
Proposed Resolution - 666 W Weber PG&E easement
Exhibit 1 - City of Stockton Easement Deed
Attachments:

12.7 24-0114 RESOLUTION TO ADOPT THE SUMMARY VACATION OF A

PORTION OF THE PUBLIC UTILITY EASEMENTS AT CANNERY
PARK UNIT NO. 1 & UNIT NO. 12

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5 April 16, 2024City Council/Successor Agency to
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Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
Recommended Action:

RECOMMENDATION
It is recommended that the City Council adopt a resolution:

1. Approving the summary vacation of a portion of the public utility easements at Cannery Park Unit No. 1 & Unit No. 12.

2. Authorizing the filing of a Notice of Exemption No. NOE 57-23 Under the California Environmental Quality Act for the vacation of a public utility easement at Cannery Park Unit No. 1 & Unit No. 12; and

3. Authorizing the City Manager, or designee, to take all the necessary and appropriate actions to carry out the purpose and intent of this resolution.

Department: Economic Development
Attachment A - Vicinity Map
Attachment B - Aerial
Attachment C - Unit No. 1 Map
Proposed Reso - Cannery Park Unit No.1 & 12 - PUE
Exhibit 1 - Legal
Exhibit 2 - Plat
Exhibit 3 - NOE 57-23 - Cannery Park PUE
Attachments:

12.8 24-0323 APPROVE MOTION TO EXECUTE AMENDMENT NO. 2 AND TWO

ADDITIONAL ONE-YEAR EXTENSIONS TO THE ANNUAL SERVICE
AGREEMENT WITH US DIGITAL DESIGNS, INC.

Recommended Action:

RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Authorize the City Manager to execute Amendment No. 2 to extend the Annual Service Agreement with US Digital Designs, Inc. for one additional year for an amount not to exceed $38,317.05; and

2. Authorize the City Manager to execute the remaining two (2) additional one-year extensions to the Annual Service Agreement with US Digital Designs, Inc. for an amount not to exceed $80,000.

3. Approve findings pursuant to Stockton Municipal Code section 3.68.070 in support of an exception to the competitive bidding process; and

4. Authorize the City Manager to take appropriate and necessary actions to carry out the purpose and intent of this motion.

Department: Fire

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6 April 16, 2024City Council/Successor Agency to
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Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
Attachment A - Original Agreement
Attachment B - Amendment No. 1
Attachment C - Amendment No. 2
Attachments:

12.9 24-0107 AUTHORIZE THE CITY MANAGER TO APPROVE A CONTRACT

WITH SEDGWICK ADMINISTRATORS (SEDGWICK) TO PROVIDE

SERVICES AS THE THIRD-PARTY ADMINISTRATOR (TPA) FOR
THE CITY’S SELF-INSURED GENERAL LIABILITY PROGRAM
Recommended Action:

RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Approve entering into an agreement with Sedgwick Administrators (Sedgwick) to provide services as the Third-Party Administrator (TPA) for the City's Self-Insured General Liability and Subrogation program;

2. Authorize the City Manager to execute a three (3) year agreement not to exceed $1,421,220, with an option to extend for two (2) additional one (1) -year terms;[TJ1]

3. Approve findings for an exception to the competitive bidding process; and

4. Authorize the City Manager to take necessary and appropriate actions to carry out the purpose and intent of this motion.

Department: Human Resources
Attachment A - Sedgwick Contract 2024Attachments:

12.10 24-0321 MEMORANDA OF UNDERSTANDING BETWEEN THE CITY OF

STOCKTON AND THE OPERATIONS AND MAINTENANCE UNIT

AND TRADES AND MAINTENANCE UNIT
Recommended Action:

RECOMMENDATION
It is recommended that the City Council adopt by resolution the attached successor Memoranda of Understanding (MOUs) effective July 1, 2023, through June 30, 2026, for the following units:

1. Operations and Maintenance (O&M);

2. Trades and Maintenance (T&M); and

3. Amend the Fiscal Year 2023-24 Annual Budget by increasing the expenditure appropriation by $1,680,412.

It is further recommended that the City Manager be authorized to take appropriate and necessary actions to carry out the purpose and intent of the resolution, including implementation and funding of these successor MOUs.

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7 April 16, 2024City Council/Successor Agency to
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Meeting Agenda - Final
Department: Human Resources
Attachment A - O&M MOU - Redline
Attachment B - T&M MOU - Redline
Proposed Resolution
Exhibit 1 - O&M MOU
Exhibit 2 - T&M MOU
Exhibit 3 - Budget Amendment
Attachments:

12.11 24-0328 RESOLUTION TO ACCEPT AND APPROPRIATE FUNDING FROM

THE CALIFORNIA EXTENDED WATER AND WASTEWATER

ARREARAGE PAYMENT PROGRAM, APPROVE THE ALLOCATION

OF FUNDS AND APPROVE A WAIVER OF ELIGIBLE CUSTOMER

LATE FEES
Recommended Action:

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

1. Accept and appropriate funds from the California Extended Water and Wastewater Arrearage Payment Program in an amount up to $2,362,493.06.

2. Approve the allocation of funds in accordance with all Extended Water and Wastewater Arrearage Payment Program requirements.

3. Approve a waiver of customer late payment fees eligible under the Extended Water and Wastewater Arrearage Payment Program.

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: Municipal Utilities
Proposed ResolutionAttachments:

12.12 24-0305 PRELIMINARILY APPROVE THE 2024-25 ANNUAL ASSESSMENTS

FOR INDUSTRIAL STORM DRAINAGE BASIN MAINTENANCE
DISTRICTS AND ANNUAL ENGINEERS’ REPORT, THE PROPOSED
FISCAL YEAR 2024-25 BUDGET, AND SET A PUBLIC HEARING
FOR JUNE 4, 2024

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Authority Concurrent
Meeting Agenda - Final
Recommended Action:

RECOMMENDATION
It is recommended that the City Council adopt six (6) resolutions of intention to:

1. Preliminarily approve the Fiscal Year (FY) 2024-25 annual assessments for the six (6) Storm Drainage Basin Maintenance Districts proposed budgets.

2. Preliminarily approve and confirm the Engineer's estimate of the itemized costs and expenses of the maintenance and incidental expenses contained in the proposed budget.

3. Approve setting a Public Hearing for June 4, 2024, for the following industrial storm drainage basin districts:
i. Western Pacific Industrial Park Storm Drainage Basin Maintenance District, Project Number 81-1 (Western Pacific)
ii. Charter Way Industrial Site Storm Drainage Basin Maintenance District, Project Number 86-4 (Charter Way)
iii. Arch Road Industrial Park Storm Drainage Basin Maintenance District, Project Number 84-2 (Arch Road)
iv. Airport Gateway Center Storm Drainage Basin Maintenance District (Airport Gateway)
v. Stockton Airport Business Center Storm Drainage Basin Maintenance District, Project Number 84-1 (Stockton Airport)
vi. North Newcastle Storm Pump Station and Basin Maintenance District, Project Number 20-1 (North Newcastle)

4. Authorize the City Clerk to publish notice of the public hearing.

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

Department: Municipal Utilities
Attachment A - Storm Drainage Basin Districts Map
Attachment B - 2024-2025 Industrial District Budget Draft Proposed Resolution Airport Business Center
Proposed Resolution Airport Gateway Center
Proposed Resolution Arch Road Industrial Park
Proposed Resolution Charter Way Industrial
Proposed Resolution North Newcastle
Proposed Resolution Western Pacific Industrial Park
Attachments:

12.13 24-0307 PRELIMINARILY APPROVE THE 2024-25 STOCKTON

CONSOLIDATED STORM DRAINAGE MAINTENANCE
ASSESSMENT DISTRICT 2005-1 ANNUAL ENGINEERS’ REPORT,

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9 April 16, 2024City Council/Successor Agency to
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Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
THE PROPOSED FISCAL YEAR 2024-25 BUDGET, AND SET A
PUBLIC HEARING FOR JUNE 4, 2024
Recommended Action:

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

1. Preliminarily approve the Fiscal Year (FY) 2024-25 Annual Engineers' Report for the Stockton Consolidated Storm Drainage Maintenance Assessment District 2005-1.

2. Preliminarily approve the FY 2024-25 proposed budgets for each zone.

3. Approve setting a Public Hearing for June 4, 2024.

4. Authorize the City Clerk to publish notice of the public hearing.

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: Municipal Utilities
Attachment A - District Zones Location Map
Attachment B - Summary of Consolidated District Budget-24-25 Attachment C - 23027 FY 24-25 CSDMD Locations
Proposed Resolution
Attachments:

12.14 24-0312 APPROVE FINDINGS AND RATIFY FINAL EXPENSES FOR THE

EMERGENCY ENVIRONMENTAL CLEANUP AND REMEDIATION OF

A HAZARDOUS MATERIALS SPILL AT ANDERSON STREET
Recommended Action:

RECOMMENDATION
It is recommended that the City Council adopt a resolution to approve findings and ratify the emergency expenditure of $962,489.88 to Ponder Environmental of Benicia, California (Ponder Environmental) for emergency environmental cleanup and remediation of a hazardous materials spill at Anderson Street.

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: Municipal Utilities
Proposed ResolutionAttachments:

12.15 24-0316 APPROVE SUBMITTAL OF A GRANT APPLICATION TO THE 2023 UNITED STATES BUREAU OF RECLAMATION WATERSMART:

PLANNING AND PROJECT DESIGN GRANT: ROUND 1

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10 April 16, 2024City Council/Successor Agency to
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Meeting Agenda - Final
Recommended Action:

RECOMMENDATION
It is recommended that the City Council adopt a resolution approving submittal of a grant application to the United States Bureau of Reclamation WaterSMART: Planning and Project Design Grant Program: Round 1.

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

Department: Municipal Utilities
Proposed ResolutionAttachments:

12.16 24-0320 ADOPT A RESOLUTION TO ACCEPT AND APPROPRIATE GRANT

FUNDING FROM THE CALIFORNIA DEPARTMENT OF GENERAL

SERVICES TO REHABILITATE THE STOCKTON CHANNEL

BUBBLER SYSTEM AND OTHER IMPROVEMENTS
Recommended Action:

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

1. Accept and appropriate funds in the amount of $3,000,000 from the California Department of General Services - Office of Public School Construction.

2. Approve the allocation of funds in accordance with the requirements of the Grant Agreement (Exhibit 1 to the Resolution) for the rehabilitation of the Stockton Channel Bubbler System and other related improvements.

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

Department: Municipal Utilities
Proposed Resolution
Exhibit 1 - Grant Agreement
Attachments:

12.17 24-0215 PRELIMINARILY APPROVE THE FISCAL YEAR 2024-25 CENTRAL

STOCKTON LIGHTING MAINTENANCE DISTRICT ANNUAL

ENGINEER'S REPORT, PRELIMINARILY APPROVE THE
PROPOSED FISCAL YEAR 2024-25 BUDGET, AND SET A PUBLIC
HEARING FOR JUNE 4, 2024

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11 April 16, 2024City Council/Successor Agency to
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Authority Concurrent
Meeting Agenda - Final
Recommended Action:

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

1. Preliminarily approve the Central Stockton Lighting Maintenance District Annual Engineer's Report for the Fiscal Year 2024-25.

2. Preliminarily approve the proposed Fiscal Year 2024-25 budget.

3. Set a public hearing for June 4, 2024.

4. Authorize the City Clerk to publish notice of the public hearing.

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
Attachment B - Proposed FY 2024-25 Budget
Proposed Resolution
Attachments:

12.18 24-0230 PRELIMINARILY APPROVE THE FISCAL YEAR 2024-25 STOCKTON

CONSOLIDATED LANDSCAPE MAINTENANCE ASSESSMENT
DISTRICT NO. 96-2 ANNUAL ENGINEER'S REPORT, PROPOSED
FISCAL YEAR 2024-25 BUDGET, AND SET A PUBLIC HEARING
FOR JUNE 4, 2024
Recommended Action:

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

1. Preliminarily approve the Stockton Consolidated Landscape Maintenance Assessment District No. 96-2 Annual Engineer's Report for the Fiscal Year 2024-25.

2. Preliminarily approve the proposed Fiscal Year 2024-25 budget.

3. Set a public hearing for June 4, 2024.

4. Authorize the City Clerk to publish notice of the public hearing.

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

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Authority Concurrent
Meeting Agenda - Final
Attachment A - Vicinity Map
Attachment B - LMD Budget Worksheet
Attachment C - Summary of Zones
Proposed Resolution
Attachments:

12.19 24-0251 APPROVE MOTION TO AUTHORIZE CONTRACT CHANGE ORDER NO. 3 FOR THE EMERGENCY ON-CALL TREE SERVICES

PROJECT
Recommended Action:

RECOMMENDATION
It is recommended that the City Council approve a motion to authorize Contract Change Order No. 3 in the amount of $200,000 with West Coast Arborists, Inc. for the Emergency On-Call Tree Services, Project No.

OM-22-051.

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 motion.

Department: Public Works
Attachment A - Contract Change Order No. 3Attachments:

12.20 24-0284 ADOPT RESOLUTION TO AUTHORIZE THE LOCAL STREET RESURFACING PROGRAM FY 2021-22 SB1 - CAPE SEAL PROJECT
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Approve Notice of Exemption No. NOE9-24 under the California Environmental Quality Act for the Local Street Resurfacing Program FY 2021-22 SB1 - Cape Seal, Project No. WT22003.

2. Approve the plans and specifications for the Local Street Resurfacing Program FY 2021-22 SB1 - Cape Seal, Project No. WT22003.

3. Appropriate $250,000 from the Gas Tax fund balance to the Local Street Resurfacing Program FY 2021-22 SB1 - Cape Seal, Project No. WT22003.

4. Award a Construction Contract in the amount of $912,000 to VSS International, Inc. of West Sacramento, CA, for the Local Street Resurfacing Program FY 2021-22 SB1 - Cape Seal, Project No. WT22003.

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

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Meeting Agenda - Final
Attachment A - Vicinity Map
Proposed Resolution
Exhibit 1 - NOE 09-24
Exhibit 2 - Locally Funded Construction Contract - CWTA Attachments:

13. ADMINISTRATIVE MATTERS

14. UNFINISHED BUSINESS

15. NEW BUSINESS

16. HEARINGS**

16.1 23-1168

PUBLIC HEARING AUTHORIZING A VACATION OF A PORTION OF

EAST SONORA STREET, EAST CHURCH STREET, AND EAST

SCOTTS AVENUE RIGHT-OF-WAY AND RESERVING A PUBLIC

EASEMENT
Recommended Action:

RECOMMENDATION
It is recommended that the City Council adopt a resolution:

1. Authorizing the vacation, and interest herein, of a portion of East Sonora Street, East Church Street, and East Scotts Avenue;

2. Authorizing the reservation of a public utility easement;

3. Authorizing the filing of Notice of Exemption No. 64-23 under the California Environmental Quality Act (CEQA) for the abandonment of a portion of East Sonora Street, East Church Street, and East Scotts Avenue; and,

4. Authorizing the City Manager, or designee, to take all the necessary and appropriate actions to carry out the purpose and intent of this resolution.

Department: Economic Development
Attachment A - Vicinity Map - Sonora, Church & Scotts
Attachment B - Aerial Map - Sonora, Church & Scotts
Proposed Resolution - Stockton Diamond
Exhibit 1 - Sonora Street - Plat & Legal
Exhibit 2 - Church Street - Plat & Legal
Exhibit 3 - Scotts Avenue - Plat & Legal
Exhibit 4 - NOE64-23 NOE Sonora, Church & Scotts
PPT - 16.1 - Abandon Portion of Streets - Diamond Grade Separation Attachments:

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16.2 23-1176
PUBLIC HEARING: FY 2024-2025 ANNUAL ACTION PLAN FOR THE

COMMUNITY DEVELOPMENT BLOCK GRANT, HOME INVESTMENT

PARTNERSHIPS, AND EMERGENCY SOLUTIONS GRANT

PROGRAMS AND SLUM BLIGHT AREA MAP
Recommended Action:

RECOMMENDATION
It is recommended that the City Council adopt a resolution:

1. Approving the FY 2024-2025 Annual Action Plan and the estimated Sources and Uses of Funds for the Community Development Block Grant (CDBG), HOME Investment Partnerships Program (HOME), and Emergency Solutions Grant program (ESG) awarded by the U.S. Housing and Urban Development Department (HUD); and

2. Authorizing the City Manager, or designee, to make the appropriate adjustments to the FY 2024-2025 Annual Action Plan and Sources and Uses and for the CDBG, ESG, and HOME programs upon HUD's publication of the official 2024-2025 CDBG, ESG, and HOME grant awards to the City of Stockton; and

3. Approving a Slum Blight Area (SBA) map developed by RSG, Inc. pursuant to the CDBG regulations at 24 CFR 570.208(b)(1) to allow the use of CDBG funds for SBA National Objective related activities; and

4. Authorizing the City Manager, or designee, to execute and submit all documents to the U.S. Department of Housing and Urban Development, execute contracts with sub-recipients, and to take actions necessary and appropriate to carry out the purpose and intent of the resolution.

Department: Economic Development
Attachment A - CDBG/ESG Application Recommendations
Proposed Resolution
Exhibit 1 - 2024-2025 Annual Action Plan
Exhibit 2 - Sources and Uses
Exhibit 3 - Slum Blight Map
PPT - 16.2 - 2024-2025 HUD Annual Action Plan
Attachments:

17. CITY MANAGER'S UPDATE

18. COUNCIL COMMENTS

19. ADJOURNMENT

INFORMATIONAL ITEMS
1 24-0368

COUNCIL COMMITTEE/BOARD AND COMMISSION MINUTES

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Meeting Agenda - Final
Recommended Action:

RECOMMENDATION
Information item only. No action required.

Department: City Clerk
Ad Hoc Homelessness 2023-04-06.pdf
Ad Hoc Homelessness 2023-06-01.pdf
CSC 2023-11-16.pdf
CSC 2023-12-21.pdf
CSC 2024-01-18.pdf
Leg Committee 2023-07-19.pdf
Leg Committee 2023-12-20.pdf
Attachments:

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 April 11, 2024, in compliance with the Brown Act.

Eliza R. Garza, CMC
City Clerk
By: ________________________________

Deputy

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

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

3. 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 which such decision becomes final. Any lawsuit or legal challenge, which is not filed within that 90-day period, will

Page 17 ends

17 April 16, 2024City Council/Successor Agency to
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
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 18 ends

18 City of Stockton
Legislation Text
File #: 24-0382, Version: 1
PROCLAMATION: DONATE LIFE MONTH - APRIL 2024
City of Stockton Printed on 4/10/2024Page 1 of 1
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19 City of Stockton
Legislation Text
File #: 24-0383, Version: 1
PROCLAMATION: 2024 EARTH DAY
City of Stockton Printed on 4/11/2024Page 1 of 1
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20 City of Stockton
Legislation Text
File #: 24-0353, Version: 1
ACCEPT THE QUARTERLY INVESTMENT REPORT FOR QUARTER ENDED DECEMBER 31, 2023

RECOMMENDATION
It is recommended that the City Council accept by motion the Quarterly Investment Report for the quarter ended December 31, 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 December 31, 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 $912.5 million as of December 31, 2023, which represents an increase of $68.3 million from the prior market value reported on September 30, 2023. This consolidated investment portfolio includes the City’s liquidity position, short -term investments, and the reserve portfolios (as shown on page 15 of Attachment A). The total market value-based earnings for the most recent quarter are shown on pages 23-24 of Attachment A and page 89 of Attachment A. Additionally, the City’s liquidity holding in both California Asset Management Program (CAMP) and Local Agency Investment Fund (LAIF), with combined holdings of $60.6 million, had interest earnings of $868,010 for the quarter ended December 31, 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.

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 #2023-06-20-1601).

City of Stockton Printed on 4/10/2024Page 1 of 3
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21 File #: 24-0353, Version: 1
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 December 31, 2023, and includes detailed information on the holdings of the City’s portfolio on that date, as aggregated on page 15 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:
https://www.stocktonca.gov/government/budget___financial_reports/debt_and_investments.php#coll apse8940b1
Portfolio Balances and Performance
The Federal Reserve (Fed) kept the overnight target rate at its current range of 5.25% to 5.50% at its December 13, 2023 meeting and indicated that the historic 2022-23 hiking cycle had likely come to an end. The Fed also messaged a more dovish policy stance for 2024 as its updated “dot plot” showed three 25 basis points (bps) rate cuts for the year, which was more than previously projected.

Yields fell significantly as a result, and the yield on 2-, 5-, and 10-year U.S. Treasuries declined 79 bps (0.79%), 76 bps (0.76%), and 69 bps (0.69%), respectively. As a result of notably lower yields, bond markets posted one of the best quarters over the past several decades.

The City divides its investment portfolio into Reserve and Liquid portions with a consolidated market value of approximately $912.5 million as of December 31, 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 and California Asset Management Program 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 falling interest rates. These returns are detailed on pages 23-24 (PFMAM) and page 89 (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).

The performance of the reserve portion of the portfolio is managed against a benchmark. The PFMAM portfolio benchmark is made up of 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 Chandler portfolio benchmark is the ICE BofA U.S. Issuers 1-5 Year AAA-A U.S.

Corporate/Government Index. The benchmarks generally reflect the portfolio’s strategy and City of Stockton Printed on 4/10/2024Page 2 of 3
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22 File #: 24-0353, Version: 1
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 positive for the quarter, as realized earnings were combined with unrealized market value gains, due to falling interest rates.

Looking ahead, with inflation still above the Fed’s 2% target, rates are expected to remain elevated.

That said, the Federal Reserve is expected to begin lowering the Fed Funds Target Rate, and at year end the Fed projected three 25 basis point (0.25%) rate cuts in 2024, which would bring the overnight rate to a range of 4.50%-4.75%. Growth in the U.S. economy is expected to slow in 2024, but to remain positive, with U.S. consumers continuing to support growth through spending.

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

Attachment A - Quarterly Investment Report for Quarter Ended December 31, 2023 Attachment B - Certification of Quarterly Investment Report City of Stockton Printed on 4/10/2024Page 3 of 3
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23 Investment Performance Review
For the Quarter Ended December 31, 2023
Client Management Team PFM Asset Management LLC
Monique Spyke, Managing Director
Justin Resuello, Client Relations Manager
Allison Kaune, Senior Analyst
Joseph Creason, Portfolio Manager
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 24
© PFM Asset Management LLC pfmam.com|
• Market Update
Account Su
mmary•
Portfolio Review•

ATTACHMENT A
2 25
© PFM Asset Management LLC pfmam.com|
Market Update

ATTACHMENT A
3 26
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:
▹ Economic resilience but expectations for a slowdown
▹ Cooling inflation that still remains above the Federal Reserve’s (“Fed”) target ▹ The labor market coming into better balance
▹ Consumers that continue to support growth through spending ▸ Federal Reserve signals end to rate hiking cycle
▹ Fed projected to cut the short-term Fed funds rate by 75 basis points by December 2024, with the overnight rate falling to 4.50% to 4.75%
▹ Markets are pricing a more aggressive 6 rate cuts by year end ▹ Fed officials reaffirm that restoring price stability is the priority ▸ Treasury yields ended the quarter materially lower
▹ After peaking in October, yields reversed course on dovish Fed pivot ▹ Yield curve inversion persisted throughout the rally
▹ Credit spreads narrowed sharply on increased expectations for a soft landing

CLIENT NAME
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC | pfmam.com
Current Market Themes

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
4 27
Source: Bloomberg, as of November 2023.

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

CLIENT NAME
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC | pfmam.com
Inflation Continues to Trend Lower
Nov-23

3.1%
-2%
0%
2%
4%
6%
8%
10%
Nov-20 May-21 Nov-21 May-22 Nov-22 May-23 Nov-23
Consumer Prices (CPI)
Year-over-Year Change in Top-Line Contributions
Services (Ex Food & Energy) Goods (Ex Food & Energy) Food Energy Headline YoY% Lower energy
and goods prices
help to offset
increases in
wage-driven
services costs

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
5 28
Source: Bloomberg, Economist Forecasts.

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

CLIENT NAME
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC | pfmam.com
Balanced Risks Support Soft Landing

2.2% 2.1%

4.9%

2.6%

1.3%

1.7%

0.0%

1.0%

2. 0%

3.0%

4.0%

5. 0%

6.0%
Q1 '23 Q2 '23 Q3 '23 Q4 '23 2024 2025
U.S. GDP Forecasts
Annualized Rate
Actual Range Median of Forecasts
Employment
Consumer
Wages
Manufacturing
Housing
Inverted yield curve
Fed Policy
Inflation
Credit spreads

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
6 29

5.4%

4.6%

3.6%

2.9% 2.5%
0%
2%
4%
6%
8%
2023 2024 2
025 2026 Longer
Run
Federal Funds Rate
September Projections December Projections

2.8%

2.4% 2.1% 2.0% 2.0%
0%
1%
2%
3%
4%
5%
2023 202 4
2025 2026 Longer
Run
PCE Inflation
September Projections December Projections

3.8% 4.1% 4.1% 4.1% 4.1%
0%
1%
2%
3%
4%
5%
6%
2023 20 2
4 2025 2026 Longer
Run
Unemployment Rate
September Projections December Projections
Federal Reserve Projects a Soft Landing
© 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 December 31, 2023
Market Update
Source: Federal Reserve, latest economic projections as of December 2023.

2.6%

1.4%

1.8% 1.9% 1.8%
0%
1%
2%
3%
4%
2023 2024 2
025 2026 Longer
Run
Change in Real GDP
September Projections December Projections

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
7 30
Fed’s Updated “Dot Plot” Also Shows Lower Rate Trajectory Source: Federal Reserve. Individual dots represent each Fed mem b ers’ 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 December 31, 2023
Market Update
0%
1%
2%
3%
4%
5%
6%
Fed Participants’ Assessments of ‘Appropriate’ Monetary Policy Dec-23 FOMC Projections
Dec-23 Median
Sep-23 Median
2023 Longer Term2024 2025 2026

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
8 31
Market Expects Lower Rates
Source: Bloomberg, as of December 2023.
© 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 December 31, 2023
Market Update
Expectations for
Fed Funds have
reached their
most dovish
levels in 6
months in
response to
falling inflation,
Fed pivot and
moderating
labor market

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

5.00%

5.50%

6.00%
Dec-23 Jun-24 Dec-24 Jun-25 Dec-25
Implied Fed Funds Rate
6-Month Range Fed Funds as of December 29, 2023 Fed Funds as of September 29, 2023 -89 bps
-108 bps

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
9 32
Rates Fall on Softer Inflation and Fed Pivot
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 December 31, 2023
Market Update
Source: Bloomberg, as of 12/31/2023.

4.00%

4.25%

4.50%

4.75%

5.00%

5.25%

5.50%
Oct-23 Nov-23 Dec-23 Jan-24
2-Year US Treasury Yield
Week of November 27th
Fed speeches portend
policy shift
-41 bps
November 14th
CPI inflation cools more
than markets expected
-20 bps
December 13th
Fed releases updated
dot plot showing 3 cuts
in ’24
-30 bps
November 1
st - 3rd
Fed keeps rates
unchanged and
Treasury slows pace
of debt issuance
-25 bps

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
10 33
Interest Rates Moderate But Remain High
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 December 31, 2023
Market Update
Source: Bloomberg, as of December 31, 2023.

5.33%

4.25%

3.85% 3.88% 4.03%

0.0%

1.0%

2.0%

3.0%

4.0%

5. 0%

6.0% Yield
Maturity
U.S. Treasury Yield Curve
15 Year Range
December 31, 2023
September 30, 2023
3-Month 2-Year 5-Year 10-Year 30-Year

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
11 34
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 December 31, 2023
Market Update
Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of December 31, 2023. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life;
spreads on agencies are relative to comparable maturity Treasuries.

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

0.0%

0.2%

0.4%

0.6%

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

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

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

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%
Dec-22 Mar-23 Jun-23 Sep-23 Dec-23
Mortgage-Backed Securities Yield Spreads
Agency MBS Agency CMBS Index

0.0%

0.5%

1.0%

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

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
12 35
Fixed-Income Markets
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 December 31, 2023
Market Update
Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. As of December 31, 2023.

3.10%

2.81%

2.47%

3.82%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
Fourth Quarter Returns

4.30%

4.69%

5.40%

5.89%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
1-Year Returns

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
13 36
© PFM Asset Management LLC pfmam.com|
Account Summary

ATTACHMENT A
14 37
© PFM Asset Management LLC | pfmam.com

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Account Summary
Consolidated Summary
Account Summary
$750,379,348Reserve Portfolio1
$10,621,715Short-Term Portfolio
$90,886,282
$59,820,240
$812,830
BMO Harris Account
CAMP Pool
Local Agency Investment Fund
$912,520,415Total Program

17.8%

0.1% 1.3%

3.3%

5.5%

18.2%

14.5%

9.1%

15.3%

6.5%

8.4%

0.0%$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
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: 994 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
15 38
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended December 31, 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 December 31, 2023, the account(s) managed by PFM Asset Management ("PFMAM") were
in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged :PFM Asset Management LLC

ATTACHMENT A
16 39
© PFM Asset Management LLC pfmam.com|
Portfolio Review:

CITY OF STOCKTON RESERVE PORTFOLIO

ATTACHMENT A
17 40
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended December 31, 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% ML 1-5 Corp and Govt A or Better (BV10) AND 20% ML 5-10 Treasury (G6O2). 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
7%
22% 20% 22%
15%
6%
3%
6%
3%
27%
22% 18%
14% 6% 3%
7%
0%
5%
10%
15%
20%
25%
30%
0-1 Yr 1-2
Yrs
2-3
Yrs
3-4
Yrs
4-5
Yrs
5-6
Yrs
6-7
Yrs
> 7
Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 50%
Corporate | 18%
Agency CMBS | 13%
Federal Agency | 9%
ABS | 7%
Negotiable CD | 2%
Municipal | 1%
Supranational | 1%
Sector Allocation
AAA | 8%
AA+ | 73%
AA | 2%
AA- | 1%
A+ | 6%
A | 6%
A- | 2%
BBB+ | 1%
Not Rated | 2%
Portfolio Statistics
Portfolio Effective Duration 3.25 years
Bench
mark Effective Duration 3.23 years
Portfolio Credit Quality AA
Yield At Market 4.31%
Yield At Cost 3.20%
Total Market Value $434,026,550.96
$431,004,019.50Securities Sub-Total
$759,524.03Cash
$2,263,007.43Accrued Interest

ATTACHMENT A
18 41
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended December 31, 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 49.5%
UNITED STATES TREASURY 49.5% AA / Aaa / AA
Federal Agency 8.7%
FANNIE MAE 5.5% AA / Aaa / AA
FEDERAL FARM CREDIT BANKS 0.7% AA / Aaa / AA
FEDERAL HOME LOAN BANKS 0.3% AA / Aaa / NR
FREDDIE MAC 1.3% AA / Aaa / AA
UNITED STATES TREASURY 0.9% AA / Aaa / AA
Agency CMBS 13.2%
FANNIE MAE 1.1% AA / Aaa / AA
FREDDIE MAC 12.1% AA / Aaa / AA
Supranational 0.9%
INTER-AMERICAN DEVELOPMENT BANK 0.9% AAA / Aaa / AAA
Municipal 1.4%

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 MARYLAND 0.1% AAA / Aaa / AAA
UNIVERSITY OF CALIFORNIA 0.2% AA / Aa / AA
Negotiable CD 1.6%
RABOBANK NEDERLAND 1.0% A / Aa / AA
TORONTO-DOMINION BANK 0.7% A / A / NR
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Corporate 17.7%
3M COMPANY 0.3% BBB / A / NR
AMAZON.COM INC 0.9% 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 0.6% A / A / NR
HOME DEPOT INC 0.8% A / A / A
HONEYWELL INTERNATIONAL 0.4% A / A / A
INTEL CORPORATION 0.5% A / A / A
JP MORGAN CHASE & CO 1.5% A / Aa / AA
MASTERCARD INC 0.2% A / Aa / NR
MERCK & CO INC 0.5% A / A / NR
MICROSOFT CORP 1.1% AAA / Aaa / NR
NOVARTIS AG 0.8% AA / A / AA
PACCAR FINANCIAL CORP 0.9% A / A / NR
PFIZER INC 0.2% A / A / A
STATE STREET CORPORATION 0.9% 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 0.4% A / A / A
WAL-MART STORES INC 0.9% AA / Aa / AA

ATTACHMENT A
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Issuer Diversification - CITY OF STOCKTON RESERVE PORTFOLIO Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer ABS 6.9%
AMERICAN EXPRESS CO 0.8% AAA / NR / AAA
BANK OF AMERICA CO 1.5% NR / Aaa / AAA
CARMAX AUTO OWNER TRUST 0.1% AAA / NR / AAA
CHASE ISSURANCE 0.8% AAA / NR / AAA
CITIGROUP INC 0.2% AAA / Aaa / AAA
DISCOVER FINANCIAL SERVICES 0.2% AAA / Aaa / NR
FIFTH THIRD AUTO TRUST 0.7% AAA / Aaa / NR
HONDA AUTO RECEIVABLES 0.7% AAA / Aaa / AAA
HYUNDAI AUTO RECEIVABLES 0.4% AAA / NR / AAA
KUBOTA CREDIT OWNER TRUST 0.3% NR / Aaa / AAA
TOYOTA MOTOR CORP 0.5% AAA / Aaa / AAA
USAA AUTO OWNER TRUST 0.8% AAA / Aaa / NR
100.0%Total

ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Portfolio Characteristics
|
$0.0
$88.0
$176.0
$264.0
$352.0
$440.0
Millions
December 2023
$0.0
$88.0
$176.0
$264.0
$352.0
$440.0
Millions
September 2023
$0.0
$88.0
$176.0
$264.0
$352.0
$440.0
Millions
June 2023
$0.0
$88.0
$176.0
$264.0
$352.0
$440.0
Millions
March 2023
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.

Mar-23 % of TotalSecurity Type Jun-23 % of Total Sep-23 % of Total % of TotalDec-23 U.S. Treasury $223.5 60.4% $249.9 60.0% $211.8 50.9% $213.6 49.6% Federal Agency $60.7 16.4% $73.5 17.7% $43.9 10.6% $37.4 8.7% Agency CMBS $0.7 0.2% $3.2 0.8% $41.5 10.0% $57.0 13.2% Supranational $5.8 1.6% $5.8 1.4% $5.8 1.4% $4.1 0.9%
Municipal $8.0 2.2% $8.0 1.9% $8.0 1.9% $5.9 1.4%
Negotiable CD $2.8 0.8% $2.8 0.7% $6.9 1.7% $6.9 1.6%
Corporate $63.7 17.2% $69.0 16.6% $75.3 18.1% $75.9 17.6% ABS $4.6 1.2% $3.9 0.9% $22.6 5.4% $30.0 7.0%
Total $369.7 100.0% $416.1 100.0% $415.9 100.0% $431.0 100.0%

ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Portfolio Activity
|
Portfolio Activity - CITY OF STOCKTON RESERVE PORTFOLIO Net Activity by Sector
($ millions)
Federal Agency
U.S. Treasury
Municipal
Supranational
Corporate
ABS
Agency CMBS
Federal Agency
U.S. Treasury
Mu
nicipal
Supranational
Corporate
ABS
Agency CMBS
($20.0) ($15.0) ($10.0) ($5.0) $0.0 $5.0 $10.0 $15.0
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 $13,719,191
ABS $6,955,974
Corporate ($1,255,042)
Supranational ($1,871,494)
Municipal ($2,218,810)
U.S. Treasury ($5,787,864)
Federal Agency ($7,527,988)
$2,013,967Total Net Activity
Sales/Maturities Purchases

ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended December 31, 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% ML 1-5 Corp and Govt A or Better (BV10) AND 20% ML 5-10 Treasury (G6O2). Prior to 3/31/23 it was the ML 1-5 year US Gov/Corp A-AAA). Source: Bloomberg. -2.0%

0.0%

2.0%

4.0%

6.0%
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 $2,846,123 $8,4 10,850 $22,016,391 $42,526,331 $53,033,096 Change in Market Value $13,003,231 $9,366,168 ($35,563,981) ($13,109,622) ($16,360,031) $15,849,354Total Dollar Return $17,777,018 ($13,547,590) $29,416,709 $36,673,065 Total Return³
Portfolio 3.79% 4.64% -0.46% 1.53% 1.44%
Benchmark⁴ 3.73% 4.21% -0.78% 1.31% 1.24%
Basis Point Fee 0.01% 0.04% 0.05% 0.05% 0.05%
Net of Fee Return 3.78% 4.60% -0.51% 1.48% 1.38%
3 Months 1 Year 3 Years 5 Years Since Inception

ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended December 31, 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
Realized Gains
/ (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
$2,846,123
($780,657)
$550,
429
$2,615,895
1 Year
$8,410,850
($3,074,345)
$1,
753,946
$7,090,451
3 Years
$22,016,391
($15,738,495)
$1
4,287,258
$20,565,154
5 Year
$42,526,331
($9,669,340)
$14
,223,682
$47,080,673
Since Inception¹
$53,033,096
($11,442,397)
$1
5,912,057
$57,502,757

ATTACHMENT A
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Portfolio Review:

CITY OF STOCKTON SHORT-TERM PORTFOLIO

ATTACHMENT A
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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 0.32 years
Yiel
d At Cost 5.82%
Yield At Market 5.75%
Portfolio Credit Quality A
Total Market Value $10,621,714.79
$10,621,714.79Securities Sub-Total
$0.00Cash
$0.00Accrued Interest

ATTACHMENT A
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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
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CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Portfolio Characteristics
|
$0.0
$12.2
$24.4
$36.6
$48.8
$61.0
Millions
December 2023
$0.0
$12.2
$24.4
$36.6
$48.8
$61.0
Millions
September 2023
$0.0
$12.2
$24.4
$36.6
$48.8
$61.0
Millions
June 2023
$0.0
$12.2
$24.4
$36.6
$48.8
$61.0
Millions
March 2023
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.

Mar-23 % of TotalSecurity Type Jun-23 % of Total Sep-23 % of Total % of TotalDec-23 Negotiable CD $49.9 82.9% $0.0 0.0% $0.0 0.0% $0.0 0.0% Commercial Paper $10.2 17.1% $10.4 100.0% $10.5 100.0% $10.6 100.0% Total $60.1 100.0% $10.4 100.0% $10.5 100.0% $10.6 100.0%

ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended December 31, 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
Realized Gains
/ (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
-
-
$130,130
$130,130
1 Year
$484,429
-
$664,683
$1,149,113
3 Years
-
-
-
-
5 Year
-
-
-
-
Since Inception¹
$1,356,238
-
$1,799,309
$3,173,046

ATTACHMENT A
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Reserve Portfolio Holdings and Transactions

ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/Description
Dated Date/C
oupon/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 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 76.24 9,453.989,531.18

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 25.55 7,419.147,502.28

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 47.52 7,342.977,580.01

US TREASURY 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 8.34 7,260.947,493.46

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 13.93 7,317.197,532.43

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 47.52 12,003.9112,574.91

US TREASURY NOTES
DTD 04/30/2020 0.375% 04/30/2025
912828ZL7 1,167,500.00 AA+ Aaa 4/5/2021 4/7/2021 1,152,267.77 0.70 745.72 1,104,929.241,162,521.81

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 10.97 1,500,152.341,586,926.03

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 5,148.93 5,691,206.256,057,630.86

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 2,302.03 2,544,468.752,707,853.05

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 1,490.38 3,251,171.703,466,639.34

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 2,220.49 6,288,901.516,686,559.55

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 58.72 5,283,187.505,659,844.42

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 7.21 648,812.50698,381.55

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 13,299.76 7,828,781.258,321,060.01

ATTACHMENT A
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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 11,981.55 7,052,831.257,413,400.25

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 18,756.98 1,653,873.911,783,748.59

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 1,875.31 1,103,881.251,184,528.20

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 18,061.40 9,878,228.1310,456,311.93

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 3,345.33 1,829,643.751,952,728.81

US TREASURY 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 0.80 527.87 743,115.63804,116.66

US TREASURY 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 2,859.02 4,024,825.004,139,217.57

US TREASURY 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 2,068.85 2,912,459.373,143,681.97

US TREASURY 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 8,226.43 3,399,375.003,520,321.52

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 6,559.34 2,401,887.502,471,102.60

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 7,266.34 811,715.63836,696.34

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 11,813.11 1,319,631.251,338,590.50

US TREASURY 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 33,985.66 5,114,265.635,173,981.03

US TREASURY 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 4,121.98 4,321,968.994,483,423.86

US TREASURY 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 3.76 383.93 4,203,250.004,229,293.81

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 57.90 3,744,105.263,847,547.87

US TREASURY 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 57,540.76 4,800,781.004,878,906.63

ATTACHMENT A
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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 23,201.29 2,574,731.252,626,141.37

US TREASURY 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 53,115.56 4,890,103.134,981,832.12

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 2,286.89 2,105,250.002,094,272.01

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 4,547.80 4,695,862.504,709,736.06

US TREASURY 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 12,576.72 1,802,026.651,813,664.54

US TREASURY 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 29,860.92 4,278,554.904,308,653.27

US TREASURY 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 3.60 313.51 2,941,778.762,974,788.25

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 1,694.84 476,212.50511,111.55

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 14,123.64 3,968,437.504,047,382.24

US TREASURY 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 65,217.03 4,843,093.754,944,964.33

US TREASURY 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 18,215.67 5,143,578.125,229,267.28

US TREASURY 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 39,239.14 4,214,737.504,254,490.56

US TREASURY 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 6,304.82 1,780,296.881,812,849.48

US TREASURY 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 12,221.15 2,018,609.382,041,541.28

US TREASURY NOTES
DTD 05/15/2018 2.875% 05/15/2028
9128284N7 705,000.00 AA+ Aaa 11/30/2022 11/30/2022 666,280.08 4.00 2,617.12 676,359.38673,992.98

US TREASURY 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 1,667.52 465,445.31503,672.59

US TREASURY NOTES
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 6,778.85 1,058,437.501,052,954.90

ATTACHMENT A
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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 4,957.54 471,093.75507,002.25

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 21,466.15 2,039,835.942,016,056.89

US TREASURY 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 37,181.56 1,988,085.942,003,490.02

US TREASURY 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 6,431.69 2,527,875.002,557,042.31

US TREASURY 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 1,610.93 633,150.00664,195.43

US TREASURY 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 2,753.01 1,082,025.001,080,525.42

US TREASURY 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 4.26 308.04 3,342,726.393,281,790.08

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 3,191.71 463,125.00502,165.37

US TREASURY NOTES
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 41,064.96 1,967,476.561,986,510.14

US TREASURY 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 3,625.14 1,068,996.881,069,399.77

US TREASURY 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 3.64 216.11 2,028,414.162,055,248.86

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 3,073.68 472,992.19507,810.06

US TREASURY 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 27,168.13 2,021,934.382,001,985.70

US TREASURY NOTES
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 17,431.32 2,439,112.612,472,325.72

US TREASURY NOTES
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 7,464.80 1,044,527.391,044,693.80

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 2,045.76 2,073,154.692,120,821.05

US TREASURY 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 9,278.69 2,807,890.632,786,661.15

ATTACHMENT A
34 57
© PFM Asset Management LLC pfmam.com

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 5,996.26 2,062,162.502,056,920.62

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 1,386.93 476,976.56517,098.26

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 6,008.07 2,066,221.882,115,292.27

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 3,389.42 2,467,500.002,443,731.08

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 1,502.65 1,093,925.001,106,427.50

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 59,993.33 3,232,031.253,185,804.01

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 2,400.87 472,039.87511,144.46

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 36,544.16 1,968,750.001,994,708.65

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 36,950.20 1,990,625.001,973,508.44

US TREASURY 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 6,147.77 2,516,137.502,577,097.27

US TREASURY 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 2,654.24 1,086,318.751,095,769.15

US TREASURY 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 11,638.42 2,042,868.752,041,360.69

US TREASURY 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 2,655.82 466,171.88510,326.39

US TREASURY 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 2,316.91 1,084,985.091,097,570.81

US TREASURY 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 3,692.86 1,729,324.901,776,545.09

US TREASURY 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 16,749.41 2,035,747.542,033,886.77

US TREASURY 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 4,269.06 1,067,343.751,076,685.16

ATTACHMENT A
35 58
© PFM Asset Management LLC pfmam.com

US TREASURY 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 2,450.07 612,562.50662,253.70

US TREASURY 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 8,074.09 2,018,671.882,068,582.54

US TREASURY 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 9,911.64 2,478,093.752,540,540.24

US TREASURY 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 10,466.06 2,000,308.702,045,456.60

US TREASURY 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 17,177.11 3,282,949.383,241,135.59

US TREASURY 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 5,619.18 1,073,957.081,081,617.47

US TREASURY 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 27,299.52 2,005,308.701,999,485.47

US TREASURY NOTES
DTD 08/15/2023 3.875% 08/15/2033
91282CHT1 2,385,000.00 AA+ Aaa 10/2/2023 10/2/2023 2,236,496.48 4.67 34,908.17 2,385,745.312,240,245.11 227,454,500.00 216,918,127.52 1,018,388.98 213,630,906.76Security Type Sub-Total 2.91 219,289,461.20 Supranational

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 5,703.06 4,055,270.554,189,247.48 4,190,000.00 4,186,899.40 5,703.06 4,055,270.55Security Type Sub-Total 0.52 4,189,247.48 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 28,930.22 2,803,734.622,800,000.00

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 95,419.33 4,119,330.604,200,000.00 7,000,000.00 7,000,000.00 124,349.55 6,923,065.22Security Type Sub-Total 5.23 7,000,000.00

ATTACHMENT A
36 59
© PFM Asset Management LLC pfmam.com

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 6,180.63 711,783.25725,000.00

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 1,375.94 630,580.83647,473.50

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 0.69 713.54 601,943.75625,000.00

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 36.17 74,408.5377,500.00

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 0.88 338.48 284,751.00300,000.00

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 0.81 519.01 436,618.20460,451.35

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 6,604.50 997,132.501,052,321.70

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 5,189.25 783,461.25825,000.00

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 3,108.10 906,993.85965,000.00

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 2,918.51 520,259.00557,500.00 6,232,500.00 6,241,407.40 26,984.13 5,947,932.16Security Type Sub-Total 1.04 6,235,246.55 Federal Agency

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 1,513.02 741,102.75750,000.00

FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
3130AJHU6 335,000.00 AA+ Aaa 4/15/2020 4/16/2020 333,338.40 0.60 358.26 318,269.43334,572.76

ATTACHMENT A
37 60
© PFM Asset Management LLC pfmam.com

FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 6,640,000.00 AA+ Aaa 6/2/2020 6/3/2020 6,682,296.80 0.49 7,954.17 6,312,402.326,651,309.18

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 0.54 194.93 946,371.031,001,893.60

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 0.41 806.95 3,917,645.654,155,504.09

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 0.42 289.72 1,406,576.391,491,631.42

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 3,850.00 2,170,593.812,306,423.98

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 4,035.94 2,879,460.753,069,133.31

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 1,207.50 861,497.20918,578.96

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 3,618.85 3,311,554.663,541,308.63

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 3,067.82 2,115,360.512,263,609.63

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 1,466.25 1,822,773.581,954,722.39

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 4,642.50 5,771,339.356,189,581.32

US TREASURY 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 22,386.68 2,038,512.502,016,374.48

US TREASURY 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 22,799.97 2,013,226.562,009,295.40

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 9,105.47 819,458.50790,853.46 39,817,500.00 39,411,369.74 87,298.03 37,446,144.99Security Type Sub-Total 0.97 39,444,792.61

ATTACHMENT A
38 61
© PFM Asset Management LLC pfmam.com

US BANK NA CINCINNATI CORP

NOTES (CALLAB
DTD 02/04/2019 3.375% 02/05/2024
91159HHV5 12,500.00 A A3 4/2/2019 4/4/2019 12,771.75 2.89 171.09 12,469.4912,500.63

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 21,236.46 2,301,138.692,317,416.13

PFIZER INC CORP NOTES
DTD 03/11/2019 2.950% 03/15/2024
717081ES8 965,000.00 A A2 6/3/2019 6/5/2019 989,539.95 2.38 8,382.10 959,385.63965,643.53

MASTERCARD INC CORP NOTES
DTD 03/31/2014 3.375% 04/01/2024
57636QAB0 1,025,000.00 A+ Aa3 4/2/2019 4/4/2019 1,058,466.25 2.67 8,648.44 1,019,017.081,026,669.64 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 0.50 944.78 1,515,262.541,542,228.77

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 56,152.92 4,049,266.604,134,099.72

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 16,610.00 1,621,547.401,650,137.03

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 1,261.72 205,001.09210,562.75

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 27,886.88 2,617,292.232,719,376.68

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 2,018.25 282,661.76293,177.96

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 11,005.50 1,541,352.181,600,146.19

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 24,507.78 3,559,008.963,708,792.64 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 16,688.75 2,512,095.922,565,756.82

ATTACHMENT A
39 62
© PFM Asset Management LLC pfmam.com

CORPORATE NOTES
DTD 03/27/2020 2.650% 04/15/2025
88579YBM2 1,450,000.00 BBB+ A3 4/21/2022 4/25/2022 1,422,595.00 3.32 8,111.94 1,404,332.251,438,139.64

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 2,215.43 1,332,901.311,355,397.51

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 7,383.59 1,779,032.611,878,225.38

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 2,250.00 1,908,564.002,014,298.84

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 5,089.28 1,625,784.721,680,000.00

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 3,076.72 420,662.81437,500.00

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 27,499.06 3,644,767.503,681,567.55

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 15,686.25 1,825,661.251,875,000.00

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 75,160.83 3,850,517.203,813,814.46

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 38,483.22 1,921,271.171,885,000.00

JP MORGAN CORP NOTES
(CALLABLE)
DTD 12/08/2023 5.110% 12/08/2026
48125LRU8 3,150,000.00 A+ Aa2 12/5/2023 12/8/2023 3,150,000.00 5.11 10,283.88 3,181,808.703,150,000.00

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 19,242.17 1,997,009.482,139,199.45

ATTACHMENT A
40 63
© PFM Asset Management LLC pfmam.com

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 30,903.13 2,264,803.432,274,568.71

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 11,655.00 2,201,640.842,299,545.14

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 32,926.04 2,119,286.032,165,341.24

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 28,711.67 3,280,159.953,294,400.47

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 16,686.16 1,510,507.231,476,471.75

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 18,740.73 2,781,365.582,799,613.00

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 7,763.33 1,367,465.501,379,540.58

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 26,491.67 4,666,351.254,673,329.93

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 32,606.75 1,456,033.921,418,082.23

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 13,777.50 615,225.60607,396.26

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 22,458.33 1,444,776.201,397,696.25

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 73,185.50 5,137,813.704,935,000.00 77,220,000.00 77,495,075.84 725,902.85 75,933,241.80Security Type Sub-Total 3.20 76,815,636.88

ATTACHMENT A
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FANNIEMAE-ACES
DTD 04/01/2014 3.346% 03/01/2024
3136AJB54 399,886.72 AA+ Aaa 12/13/2019 12/18/2019 419,318.72 2.14 1,115.02 397,315.79400,646.28 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 2,860,717.75 AA+ Aaa 5/19/2023 5/24/2023 2,772,661.28 4.31 7,979.02 2,777,341.762,788,213.02 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 4,325,704.514,250,438.28

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 2,451,573.412,409,775.92

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 3,786,326.763,710,531.76 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
3137HAMR4 4,041,108.91 AA+ Aaa 9/20/2023 9/28/2023 3,977,691.79 5.19 16,164.44 4,076,869.053,980,939.55 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
3137HAMG8 2,094,800.58 AA+ Aaa 9/7/2023 9/14/2023 2,063,472.84 5.01 8,117.35 2,113,085.282,065,273.12 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 3,410,789.22 AA+ Aaa 7/19/2023 7/27/2023 3,410,703.94 4.78 13,577.78 3,425,693.793,410,711.55 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 4,268,875.634,238,056.64 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 4,220,112.004,184,123.86 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 2,370,955.64 AA+ Aaa 9/19/2023 9/28/2023 2,370,943.79 5.27 10,416.40 2,428,649.882,370,944.35 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 4,300,000.00 AA+ Aaa 10/11/2023 10/19/2023 4,205,675.20 5.26 16,985.00 4,364,963.284,209,189.97 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 4,248,554.274,141,236.62 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 4,277,162.194,152,131.19 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 3,305,000.00 AA+ Aaa 10/25/2023 10/31/2023 3,199,626.69 5.60 13,357.71 3,371,330.593,202,855.64 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 2,440,000.00 AA+ Aaa 11/28/2023 12/7/2023 2,432,989.88 4.93 9,882.00 2,491,695.162,433,076.70 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 1,675,000.00 AA+ Aaa 11/14/2023 11/21/2023 1,670,157.58 5.14 7,075.48 1,722,432.401,670,255.32

ATTACHMENT A
42 65
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended December 31, 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
Agency CMBS
FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
3137HBCF9 2,215,000.00 AA+ Aaa 12/11/2023 12/21/2023 2,235,683.67 4.78 9,229.17 2,275,936.242,235,571.86 56,922,567.82 55,771,084.31 207,813.22 57,023,621.99Security Type Sub-Total 4.95 55,853,971.63 ABS
HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
43813GAC5 120,159.20 NR Aaa 2/17/2021 2/24/2021 120,157.00 0.27 9.01 118,696.79120,158.51 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 165,568.26 AAA NR 4/20/2021 4/28/2021 165,550.85 0.38 27.96 163,308.04165,561.49 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
14316NAC3 116,397.75 AAA NR 1/20/2021 1/27/2021 116,374.75 0.34 17.59 114,296.37116,388.54 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
89239BAC5 588,471.41 AAA Aaa 9/21/2021 9/27/2021 588,424.51 0.43 112.46 573,007.79588,449.17 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 345,214.89 AAA NR 4/13/2021 4/21/2021 345,140.50 0.52 79.78 337,560.79345,182.06 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 341,804.47 AAA NR 11/9/2021 11/17/2021 341,728.17 0.75 112.42 332,680.48341,764.23 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 3.73 417.55 305,585.60309,987.93 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 0.58 205.58 771,094.38797,407.00 CCCIT 2023-A1 A1
DTD 12/01/2023 5.230% 12/01/2027
17305EGW9 930,000.00 AAA Aaa 12/4/2023 12/11/2023 929,883.38 5.23 4,053.25 938,145.22929,884.90 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 1,098,623.371,084,752.55 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 1,796,566.251,774,938.97 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 2,676,691.512,639,499.42 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 1,892.00 832,102.76824,828.59 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 3,412,349.443,374,442.42

ATTACHMENT A
43 66
© PFM Asset Management LLC pfmam.com

3.20 3.20%
Total Investments $433,267,026.93

ATTACHMENT A
44 67
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Da
te Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
BUY
10/2/2023 10/2/2023 2,385,000.00 91282CHT1 US TREASURY NOTES 3.87% 8/15/2033 2,248,551.10 4.67% 10/11/2023 10/19/2023 4,300,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 4,215,866.20 5.26% 10/12/2023 10/13/2023 4,300,000.00 912797FB8 US TREASURY BILL 0.00% 10/19/2023 4,296,215.64 5.29% 10/25/2023 10/31/2023 3,305,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 3,212,984.40 5.60% 10/26/2023 10/26/2023 2,289,000.00 912797HD2 US TREASURY BILL 0.00% 10/31/2023 2,287,341.27 5.22% 11/3/2023 11/13/2023 1,190,000.00 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 1,189,843.52 5.54% 11/7/2023 11/14/2023 805,000.00 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 804,913.22 5.54% 11/14/2023 11/21/2023 1,675,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 1,674,874.57 5.14% 11/15/2023 11/21/2023 3,075,000.00 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 3,074,944.34 5.74% 11/28/2023 12/7/2023 2,440,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 2,434,966.28 4.93% 11/29/2023 11/30/2023 2,440,000.00 912797FT9 US TREASURY BILL 0.00% 12/7/2023 2,437,501.58 5.27% 12/4/2023 12/11/2023 930,000.00 17305EGW9 CCCIT 2023-A1 A1 5.23% 12/1/2027 929,883.38 5.23% 12/5/2023 12/8/2023 3,150,000.00 48125LRU8 JP MORGAN CORP NOTES (CALLABLE) 5.11% 12/8/2026 3,150,000.00 5.11% 12/7/2023 12/14/2023 1,520,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 1,519,795.86 4.98% 12/11/2023 12/21/2023 2,215,000.00 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 2,241,836.45 4.78% Total BUY 36,019,000.00 35,719,517.81 0.00

ATTACHMENT A
45 68
© PFM Asset Management LLC pfmam.com

INTEREST
10/1/2023 10/25/2023 4,075,000.00 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 16,300.00 10/1/2023 10/25/2023 2,865,000.00 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,990.96 10/1/2023 10/25/2023 4,200,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.00 10/1/2023 10/25/2023 4,477,651.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.96 10/1/2023 10/25/2023 2,100,000.00 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 8,137.50 10/1/2023 10/25/2023 4,250,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 14,839.58 10/1/2023 10/25/2023 4,200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.50 10/1/2023 10/25/2023 2,380,000.00 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 10,456.13 10/1/2023 10/25/2023 3,941,658.00 3137F2LJ3 FHLMC MULTIFAMILY STRUCTURED P 3.11% 6/1/2027 10,238.46 10/1/2023 10/25/2023 3,416,693.43 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,601.29 10/1/2023 10/25/2023 402,902.63 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,123.43 10/1/2023 10/25/2023 4,200,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.00 10/1/2023 10/25/2023 2,540,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 6,864.35 10/1/2023 10/1/2023 2,125,000.00 57636QAB0 MASTERCARD INC CORP NOTES 3.37% 4/1/2024 35,859.38 10/2/2023 10/2/2023 1,875,000.00 06051GKM0 BANK OF AMERICA CORP NOTES (CALLABLE) 3.38% 4/2/2026 31,725.00 10/2/2023 10/2/2023 MONEY0002 MONEY MARKET FUND 1,371.93 10/8/2023 10/8/2023 750,000.00 3133ELVX9 FEDERAL FARM CREDIT BANK NOTES 0.87% 4/8/2024 3,281.25

ATTACHMENT A
46 69
© PFM Asset Management LLC pfmam.com

INTEREST
10/13/2023 10/13/2023 2,567,500.00 023135CE4 AMAZON.COM INC CORPORATE NOTES 3.00% 4/13/2025 38,512.50 10/14/2023 10/14/2023 2,460,000.00 3130AJHU6 FEDERAL HOME LOAN BANK NOTES 0.50% 4/14/2025 6,150.00 10/15/2023 10/15/2023 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 10/15/2023 10/15/2023 451,905.90 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 195.83 10/15/2023 10/15/2023 424,149.32 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 261.56 10/15/2023 10/15/2023 3,375,000.00 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 15,693.75 10/15/2023 10/15/2023 161,491.49 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 45.76 10/15/2023 10/15/2023 1,775,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 8,179.79 10/15/2023 10/15/2023 3,460,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 13,069.19 10/15/2023 10/15/2023 248,720.31 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 78.76 10/15/2023 10/15/2023 1,450,000.00 88579YBM2 3M COMPANY (CALLABLE) CORPORATE NOTES 2.65% 4/15/2025 19,212.50 10/15/2023 10/15/2023 1,085,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,774.00 10/15/2023 10/15/2023 2,880,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 13,272.00 10/15/2023 10/15/2023 825,000.00 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 3,547.50 10/15/2023 10/15/2023 743,105.72 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 266.28 10/15/2023 10/15/2023 10,562.92 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 16.64 10/15/2023 10/15/2023 3,380,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.00

ATTACHMENT A
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© PFM Asset Management LLC pfmam.com

INTEREST
10/18/2023 10/18/2023 2,640,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 11,902.00 10/18/2023 10/18/2023 310,000.00 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 963.58 10/21/2023 10/21/2023 201,086.29 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 45.24 10/22/2023 10/22/2023 10,880,000.00 3135G03U5 FANNIE MAE NOTES 0.62% 4/22/2025 34,000.00 10/25/2023 10/25/2023 2,800,000.00 89115B6F2 TORONTO DOMINION BANK NY CERT DEPOS 5.47% 10/25/2024 152,734.56 10/31/2023 10/31/2023 6,040,000.00 91282CFU0 US TREASURY NOTES 4.12% 10/31/2027 124,575.00 10/31/2023 10/31/2023 3,500,000.00 91282CAT8 US TREASURY NOTES 0.25% 10/31/2025 4,375.00 10/31/2023 10/31/2023 5,340,000.00 91282CAU5 US TREASURY NOTES 0.50% 10/31/2027 13,350.00 10/31/2023 10/31/2023 2,977,500.00 912828ZL7 US TREASURY NOTES 0.37% 4/30/2025 5,582.81 10/31/2023 10/31/2023 4,840,000.00 912828ZN3 US TREASURY NOTES 0.50% 4/30/2027 12,100.00 10/31/2023 10/31/2023 7,500.00 912828X70 US TREASURY NOTES 2.00% 4/30/2024 75.00 10/31/2023 10/31/2023 2,050,000.00 91282CHA2 US TREASURY NOTES 3.50% 4/30/2028 35,875.00 11/1/2023 11/1/2023 625,000.00 13077DNC2 CA ST UNIV TXBL REV BONDS 0.68% 11/1/2024 2,140.63 11/1/2023 11/1/2023 MONEY0002 MONEY MARKET FUND 24,220.79 11/1/2023 11/1/2023 1,355,000.00 172967MX6 CITIGROUP INC (CALLABLE) CORPORATE NOTES 0.98% 5/1/2025 6,646.28 11/1/2023 11/25/2023 4,200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.50 11/1/2023 11/25/2023 3,941,658.00 3137F2LJ3 FHLMC MULTIFAMILY STRUCTURED P 3.11% 6/1/2027 10,238.46

ATTACHMENT A
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© PFM Asset Management LLC pfmam.com

INTEREST
11/1/2023 11/25/2023 4,477,651.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.96 11/1/2023 11/25/2023 401,882.84 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,120.58 11/1/2023 11/25/2023 4,250,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 14,839.58 11/1/2023 11/25/2023 4,200,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.00 11/1/2023 11/25/2023 4,063,198.19 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 16,252.79 11/1/2023 11/25/2023 4,200,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.00 11/1/2023 11/25/2023 2,376,768.82 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 10,441.94 11/1/2023 11/25/2023 4,300,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 16,985.00 11/1/2023 11/25/2023 2,540,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 6,864.35 11/1/2023 11/25/2023 3,414,655.34 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,593.17 11/1/2023 11/25/2023 2,865,000.00 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,990.96 11/1/2023 11/25/2023 2,098,192.74 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 8,130.50 11/1/2023 11/25/2023 3,305,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 13,357.71 11/4/2023 11/4/2023 2,785,000.00 427866BH0 HERSHEY COMPANY CORP NOTES CALLABLE 4.25% 5/4/2028 59,181.25 11/7/2023 11/7/2023 8,145,000.00 3135G06G3 FANNIE MAE NOTES 0.50% 11/7/2025 20,362.50 11/10/2023 11/10/2023 6,045,000.00 037833ET3 APPLE INC CORP NOTES CALLABLE 4.00% 5/10/2028 120,900.00 11/12/2023 11/12/2023 1,542,500.00 023135BW5 AMAZON.COM INC CORPORATE NOTES 0.45% 5/12/2024 3,470.63

ATTACHMENT A
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INTEREST
11/15/2023 11/15/2023 4,195,000.00 91282CCB5 US TREASURY NOTES 1.62% 5/15/2031 34,084.38 11/15/2023 11/15/2023 705,000.00 9128284N7 US TREASURY NOTES 2.87% 5/15/2028 10,134.38 11/15/2023 11/15/2023 415,149.56 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 179.90 11/15/2023 11/15/2023 3,375,000.00 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 15,693.75 11/15/2023 11/15/2023 1,775,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 8,179.79 11/15/2023 11/15/2023 6,245,000.00 91282CFV8 US TREASURY NOTES 4.12% 11/15/2032 128,803.13 11/15/2023 11/15/2023 6,655,000.00 91282CEP2 US TREASURY NOTES 2.87% 5/15/2032 95,665.63 11/15/2023 11/15/2023 2,535,000.00 912828ZQ6 US TREASURY NOTES 0.62% 5/15/2030 7,921.88 11/15/2023 11/15/2023 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 11/15/2023 11/15/2023 1,000,000.00 912810FF0 US TREASURY NOTES 5.25% 11/15/2028 26,250.00 11/15/2023 11/15/2023 145,795.76 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 41.31 11/15/2023 11/15/2023 395,521.53 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 243.90 11/15/2023 11/15/2023 825,000.00 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 3,547.50 11/15/2023 11/15/2023 3,460,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 15,079.83 11/15/2023 11/15/2023 1,085,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,774.00 11/15/2023 11/15/2023 690,461.32 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 247.42 11/15/2023 11/15/2023 219,625.95 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 69.55

ATTACHMENT A
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INTEREST
11/15/2023 11/15/2023 3,085,000.00 912810FM5 US TREASURY NOTES 6.25% 5/15/2030 96,406.25 11/15/2023 11/15/2023 2,540,000.00 912828U24 US TREASURY NOTES 2.00% 11/15/2026 25,400.00 11/15/2023 11/15/2023 3,385,000.00 91282CDJ7 US TREASURY NOTES 1.37% 11/15/2031 23,271.88 11/15/2023 11/15/2023 760,000.00 91412HGE7 UNIV OF CAL TXBL REV BONDS 0.88% 5/15/2025 3,355.40 11/15/2023 11/15/2023 3,380,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.00 11/15/2023 11/15/2023 2,880,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 13,272.00 11/15/2023 11/15/2023 4,330,000.00 91282CAV3 US TREASURY NOTES 0.87% 11/15/2030 18,943.75 11/18/2023 11/18/2023 2,640,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 11,902.00 11/18/2023 11/18/2023 310,000.00 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 963.58 11/21/2023 11/21/2023 173,054.47 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 38.94 11/22/2023 11/22/2023 1,817,500.00 38148LAE6 GOLDMAN SACHS GROUP INC CORPORATE NOTES 3.75% 5/22/2025 34,078.13 11/30/2023 11/30/2023 1,070,000.00 91282CFY2 US TREASURY NOTES 3.87% 11/30/2029 20,731.25 11/30/2023 11/30/2023 4,490,000.00 91282CES6 US TREASURY NOTES 2.75% 5/31/2029 61,737.50 11/30/2023 11/30/2023 2,830,000.00 91282CHF1 US TREASURY NOTES 3.75% 5/31/2030 53,062.50 11/30/2023 11/30/2023 7,500.00 9128283J7 US TREASURY NOTES 2.12% 11/30/2024 79.69 11/30/2023 11/30/2023 8,320,000.00 91282CCF6 US TREASURY NOTES 0.75% 5/31/2026 31,200.00 11/30/2023 11/30/2023 6,772,500.00 91282CAZ4 US TREASURY NOTES 0.37% 11/30/2025 12,698.44

ATTACHMENT A
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INTEREST
12/1/2023 12/1/2023 2,000,000.00 438516CB0 HONEYWELL INTL CORP NOTES (CALLABLE) 1.35% 6/1/2025 13,500.00 12/1/2023 12/1/2023 MONEY0002 MONEY MARKET FUND 2,660.61 12/1/2023 12/1/2023 77,500.00 13067WRB0 CA ST DEPT WTR RES WTR SYS TXBL REV BNDS 0.56% 12/1/2024 217.00 12/1/2023 12/25/2023 2,096,623.16 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 8,124.41 12/1/2023 12/25/2023 4,300,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 16,985.00 12/1/2023 12/25/2023 2,865,000.00 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,990.96 12/1/2023 12/25/2023 3,941,658.00 3137F2LJ3 FHLMC MULTIFAMILY STRUCTURED P 3.11% 6/1/2027 10,238.46 12/1/2023 12/25/2023 4,200,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.00 12/1/2023 12/25/2023 1,675,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 7,075.48 12/1/2023 12/25/2023 3,412,920.10 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,586.27 12/1/2023 12/25/2023 3,305,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 13,357.71 12/1/2023 12/25/2023 4,250,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 14,839.58 12/1/2023 12/25/2023 2,540,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 6,864.35 12/1/2023 12/25/2023 2,374,219.34 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 10,430.74 12/1/2023 12/25/2023 400,914.85 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,117.88 12/1/2023 12/25/2023 4,200,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.00 12/1/2023 12/25/2023 4,053,011.83 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 16,212.05

ATTACHMENT A
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INTEREST
12/1/2023 12/25/2023 4,200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.50 12/1/2023 12/25/2023 4,477,651.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.96 12/15/2023 12/15/2023 638,944.32 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 228.96 12/15/2023 12/15/2023 3,380,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.00 12/15/2023 12/15/2023 2,880,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 13,272.00 12/15/2023 12/15/2023 191,966.91 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 60.79 12/15/2023 12/15/2023 130,909.67 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 37.09 12/15/2023 12/15/2023 805,000.00 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 3,840.30 12/15/2023 12/15/2023 379,344.91 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 164.38 12/15/2023 12/15/2023 1,775,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 8,179.79 12/15/2023 12/15/2023 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 12/15/2023 12/15/2023 3,075,000.00 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 11,767.00 12/15/2023 12/15/2023 367,981.25 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 226.92 12/15/2023 12/15/2023 1,190,000.00 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 5,860.09 12/15/2023 12/15/2023 825,000.00 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 3,547.50 12/15/2023 12/15/2023 3,375,000.00 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 15,693.75 12/15/2023 12/15/2023 3,460,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 15,079.83

ATTACHMENT A
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INTEREST
12/15/2023 12/15/2023 1,085,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,774.00 12/17/2023 12/17/2023 6,642,500.00 3135G04Z3 FANNIE MAE NOTES 0.50% 6/17/2025 16,606.25 12/18/2023 12/18/2023 310,000.00 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 963.58 12/18/2023 12/18/2023 2,640,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 11,902.00 12/21/2023 12/21/2023 145,779.42 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 32.80 12/31/2023 12/31/2023 4,215,000.00 912828ZV5 US TREASURY NOTES 0.50% 6/30/2027 10,537.50 12/31/2023 12/31/2023 3,450,000.00 91282CEV9 US TREASURY NOTES 3.25% 6/30/2029 56,062.50 12/31/2023 12/31/2023 4,300,000.00 91282CEW7 US TREASURY NOTES 3.25% 6/30/2027 69,875.00 12/31/2023 12/31/2023 2,030,000.00 91282CGB1 US TREASURY NOTES 3.87% 12/31/2029 39,331.25 12/31/2023 12/31/2023 6,400,000.00 91282CBC4 US TREASURY NOTES 0.37% 12/31/2025 12,000.00 12/31/2023 12/31/2023 1,597,500.00 912828ZW3 US TREASURY NOTES 0.25% 6/30/2025 1,996.88 12/31/2023 12/31/2023 2,945,000.00 91282CGC9 US TREASURY NOTES 3.87% 12/31/2027 57,059.38 Total INTEREST 383,322,967.29 2,528,411.09 0.00

MATURITY
10/1/2023 10/1/2023 2,192,500.00 13063DRJ9 CA ST TXBL GO BONDS 2.40% 10/1/2023 2,218,810.00 10/19/2023 10/19/2023 4,300,000.00 912797FB8 US TREASURY BILL 0.00% 10/19/2023 4,300,000.00 10/24/2023 10/24/2023 7,500.00 06051GJH3 BANK OF AMERICA CORP NOTES (CALLED, OMD 0.81% 10/24/2023 7,530.38

ATTACHMENT A
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MATURITY
10/31/2023 10/31/2023 2,289,000.00 912797HD2 US TREASURY BILL 0.00% 10/31/2023 2,289,000.00 11/15/2023 11/15/2023 7,500.00 91282CAW1 US TREASURY NOTES 0.25% 11/15/2023 7,509.38 11/15/2023 11/15/2023 12,500.00 912828WE6 US TREASURY NOTES 2.75% 11/15/2023 12,671.88 11/27/2023 11/27/2023 7,500.00 3135G06H1 FANNIE MAE NOTES 0.25% 11/27/2023 7,509.38 11/30/2023 11/30/2023 67,500.00 912828U57 US TREASURY NOTES 2.12% 11/30/2023 68,217.19 12/4/2023 12/4/2023 22,500.00 3137EAFA2 FREDDIE MAC NOTES 0.25% 12/4/2023 22,528.13 12/7/2023 12/7/2023 2,440,000.00 912797FT9 US TREASURY BILL 0.00% 12/7/2023 2,440,000.00 12/8/2023 12/8/2023 12,500.00 3130A0F70 FEDERAL HOME LOAN BANKS NOTES 3.37% 12/8/2023 12,710.94 Total MATURITY 11,359,000.00 11,386,487.28 0.00

PAYDOWNS
10/1/2023 10/25/2023 1,019.79 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,019.79 10/1/2023 10/25/2023 2,038.09 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 2,038.09 10/1/2023 10/25/2023 3,231.18 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 3,231.18 10/1/2023 10/25/2023 11,801.81 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 11,801.81 10/1/2023 10/25/2023 1,807.26 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 1,807.26 10/15/2023 10/15/2023 52,644.40 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 52,644.40 10/15/2023 10/15/2023 10,562.92 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 10,562.92

ATTACHMENT A
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PAYDOWNS
10/15/2023 10/15/2023 15,695.73 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 15,695.73 10/15/2023 10/15/2023 28,627.79 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 28,627.79 10/15/2023 10/15/2023 29,094.36 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 29,094.36 10/15/2023 10/15/2023 36,756.34 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 36,756.34 10/21/2023 10/21/2023 28,031.82 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 28,031.82 11/1/2023 11/25/2023 967.99 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 967.99 11/1/2023 11/25/2023 10,186.36 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 10,186.36 11/1/2023 11/25/2023 1,569.58 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 1,569.58 11/1/2023 11/25/2023 1,735.24 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,735.24 11/1/2023 11/25/2023 2,549.48 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 2,549.48 11/15/2023 11/15/2023 27,540.28 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 27,540.28 11/15/2023 11/15/2023 14,886.09 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 14,886.09 11/15/2023 11/15/2023 35,804.65 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 35,804.65 11/15/2023 11/15/2023 51,517.00 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 51,517.00 11/15/2023 11/15/2023 27,659.04 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 27,659.04 11/21/2023 11/21/2023 27,275.05 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 27,275.05 12/1/2023 12/25/2023 4,282.25 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 4,282.25

ATTACHMENT A
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PAYDOWNS
12/1/2023 12/25/2023 1,822.58 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 1,822.58 12/1/2023 12/25/2023 2,130.88 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 2,130.88 12/1/2023 12/25/2023 11,902.92 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 11,902.92 12/1/2023 12/25/2023 3,263.70 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 3,263.70 12/1/2023 12/25/2023 1,028.13 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,028.13 12/15/2023 12/15/2023 34,130.02 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 34,130.02 12/15/2023 12/15/2023 14,511.92 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 14,511.92 12/15/2023 12/15/2023 26,176.78 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 26,176.78 12/15/2023 12/15/2023 50,472.91 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 50,472.91 12/15/2023 12/15/2023 26,398.65 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 26,398.65 12/21/2023 12/21/2023 25,620.22 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 25,620.22 Total PAYDOWNS 624,743.21 624,743.21 0.00
SELL
10/11/2023 10/13/2023 2,715,000.00 912810FE3 US TREASURY NOTES 5.50% 8/15/2028 2,839,480.53 -51,813.59 10/11/2023 10/13/2023 1,030,000.00 91282CHX2 US TREASURY NOTES 4.37% 8/31/2028 1,026,310.82 -13,491.27 10/11/2023 10/13/2023 100,000.00 9128284N7 US TREASURY NOTES 2.87% 5/15/2028 94,027.35 -2,533.72 10/25/2023 10/26/2023 325,000.00 9128284N7 US TREASURY NOTES 2.87% 5/15/2028 302,237.30 -12,032.68

ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Da
te Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
SELL
10/25/2023 10/26/2023 2,375,000.00 91282CCR0 US TREASURY NOTES 1.00% 7/31/2028 1,987,162.66 -118,678.09 11/3/2023 11/6/2023 1,190,000.00 912828ZL7 US TREASURY NOTES 0.37% 4/30/2025 1,111,654.42 -72,759.14 11/8/2023 11/13/2023 620,000.00 912828ZL7 US TREASURY NOTES 0.37% 4/30/2025 579,201.79 -37,970.50 11/17/2023 11/21/2023 1,870,000.00 459058JM6 INTL BK RECON & DEVELOP NOTES 0.25% 11/24/2023 1,871,494.44 -793.08 11/17/2023 11/21/2023 900,000.00 3135G03U5 FANNIE MAE NOTES 0.62% 4/22/2025 845,940.13 -56,177.63 11/17/2023 11/21/2023 1,530,000.00 3135G0X24 FANNIE MAE NOTES 1.62% 1/7/2025 1,480,196.38 -72,324.48 11/29/2023 11/30/2023 2,125,000.00 3130AJHU6 FEDERAL HOME LOAN BANK NOTES 0.50% 4/14/2025 2,002,406.39 -121,056.22 12/5/2023 12/8/2023 3,340,000.00 3135G03U5 FANNIE MAE NOTES 0.62% 4/22/2025 3,156,696.16 -191,946.07 12/7/2023 12/11/2023 1,050,000.00 91159HHV5 US BANK NA CINCINNATI CORP NOTES (CALLAB 3.37% 2/5/2024 1,058,339.63 -4,392.04 12/7/2023 12/11/2023 1,100,000.00 57636QAB0 MASTERCARD INC CORP NOTES 3.37% 4/1/2024 1,100,178.75 -9,245.31 12/18/2023 12/21/2023 2,235,000.00 717081ES8 PFIZER INC CORP NOTES 2.95% 3/15/2024 2,238,993.20 -15,443.59 Total SELL 22,505,000.00 21,694,319. 95 -780,657.41

ATTACHMENT A
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Short-Term Portfolio Holdings and Transactions

ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended December 31, 2023
Portfolio Holdings
|
Managed Account Detail of Securities Held
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
Commercial Paper

LMA AMERICAS LLC COMM PAPER
DTD 10/18/2023 0.000% 04/17/2024
53944QDH0 10,805,000.00 A-1 P-1 10/20/2023 10/20/2023 10,499,218.50 5.82 0.00 10,621,714.7910,623,229.89 10,805,000.00 10,499,218.50 0.00 10,621,714.79Security Type Sub-Total 5.82 10,623,229.89 10,805,000.00 10,499,218.50 0.00 10,621,714.79Managed Account Sub Total Securities Sub Total
Accrued Interest
$10,805,000.00 $10,499,218.50 $0.00 $10,621,714.79
$0.00
10,623,229.89
$10,623,229.89

5.82 5.82%
Total Investments $10,621,714.79

ATTACHMENT A
60 83
© PFM Asset Management LLC pfmam.com

MATURITY
10/5/2023 10/5/2023 10,530,000.00 53944RX52 LMA AMERICAS LLC COMM PAPER 0.00% 10/5/2023 10,530,000.00 Total MATURITY 10,530,000.00 10,530,000.00 0.00

ATTACHMENT A
61 84
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended December 31, 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
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© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended December 31, 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
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© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended December 31, 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
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© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended December 31, 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
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CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com

INVESTMENT REPORT
Period Ending December 31, 2023
City of Stockton

ATTACHMENT A
66 89
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Portfolio Holdings
SECTION 4 Transactions
Table of Contents As of December 31, 2023

ATTACHMENT A
67 90
SECTION |
Section 1 |
Economic Update

ATTACHMENT A
68 91
Economic Update



Recent economic data has shown above trend growth fueled by a rise in consumer spending and a continuing healthy US job market.

Inflationary trends are subsiding, but core levels remain 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 loosen monetary policy in 2024.

As expected at the January meeting, the Federal Open Market Committee voted unanimously to leave the Federal Funds rate unchanged at a target range of 5.25 - 5.50%. Fed Chair Powell signaled that the federal funds rate is likely at or near its peak, but discounted market expectations of a rate cut in March. We believe the FOMC will loosen monetary policy in mid-2024 as inflation and economic growth continue to moderate.

US Treasury rates declined minimally in the front-end of the yield curve in January. The 2-year Treasury yield declined 4 basis points to

4.21%, the 5-year Treasury yield dropped 1 basis point to 3.84%, and the 10-year Treasury yield decreased 3 basis points to 3.91%. The inversion between the 2-year Treasury yield and 10-year Treasury yield narrowed to -30 basis points at January month-endversus -37 basis points at December month-end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -69 basis points. The inversion between 3-month and 10-year Treasuries remained at -146 basis points in January from December. Interest rates peaked in the third quarter of 2023 prior to Fed Chair Powell’s dovish remarks late in the year, which resulted in a decline in yields across the curve. The Fed signaled a shift towards less restrictive monetary policy in 2024. The shape of the yield curve indicates that the probability of recession persists.

ATTACHMENT A
69 92
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 353,000 jobs in January, vastly exceeding consensus expectations of 185,000, and upwardly revised 333,000 jobs in December. Leading sectors included professional and business services, health care, retail trade, and social assistance. The trajectory of job creation has increased, with the three-month moving average payrolls at 289,000 and the six-month moving average at 248,000.

The unemployment rate remained unchanged at 3.7% for the third month, and the labor participation rate was unchanged at 62.5%, remaining below the pre-pandemic level of 63.3%. The U-6 underemploymentrate, which includes those who are marginally attached to the labor force and employed part time for economic reasons rose to 7.2% from 7.1% last month. Average hourly earnings rose 4.5% year- over-year in January, increasing from an upwardly revised 4.3% gain last month. Employment remains strong by historical standards.

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

ATTACHMENT A
70 93
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 Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) increased to 9.03 million in December, compared to an upwardly revised 8.92 million in No vember. While on a downward trend, job openings still represent a healthy ratio of around 1.44 jobs for each unemployed individual. The quits rate remained at 2.2%, hovering around pre-pandemic levels, down from its high of 3.0% in mid-2022 when labor demand far outstripped supply. While the current level of job openings remains elevated from a historical perspective, the trend is decelerating.

Source: US Department of Labor

ATTACHMENT A
71 94
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 0.3% month-over-monthand 3.4% year-over-year in December, increasing from 3.1% year-over- year in November. The Core CPI, which excludes volatile food and energy components, was up 0.3% month-over-monthand 3.9% year- over-year, down from November. Shelter costs remain elevated, contributing to more than half of the overall increase while motor-vehicle insurance costs jumped by over 20%, the most since 1976. The Personal Consumption Expenditures (PCE) Index headline inflation increased 0.2% month-over-month and rose 2.6% year-over-year in line with November. Core PCE, the Federal Reserve’s preferred inflation gauge, increased 0.2% month-over-monthand continued its deceleration to 2.9% year-over-year in December from a 3.2% year- over-year in November. The trend is moderating, but inflation remains above the Fed's 2% target.

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

ATTACHMENT A
72 95
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 accelerated to 0.6% in December after an unrevised +0.3% in November, exceeding the +0.4% consensus forecast. On a year- over-year basis, Retail Sales growth increased to 5.6% in December from 4.0% in November due to notable gains in categories like food and drinking places, clothing, general merchandise stores, and e-commerce. The Conference Board’s Consumer Confidence Index surged to a two-year high of 114.8 in January from 108.0 in December on surging views of current conditions and declining pessimism about the future. The increase in confidence points to slower inflation, anticipation of lower interest rates, and generally favorable employment conditions. 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. 0 20
40 60
80 100
120
140
160
Index Level
Consumer Confidence
Recession
Source: US Department of Commerce Source: The Conference Board All time high is 144.70 (1/31/00); All time low is 25.30 (2/28/09)

ATTACHMENT A
73 96
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) fell 0.1% in December, marking the twenty-first consecutive month-over-month decline. The index dropped 6.9% year-over-year. Although the magnitude of the monthly declines has lessened, the Conference Board continues to view the underlying weakness as signaling the risk of recession persists. The Chicago Fed National Activity Index (CFNAI) declined to -0.15 in December from a downwardlyrevised +0.01 in November.On a 3-month movingaverage basis, the CFNAI declined to -

0.28 in December from -0.24 in November, indicating a rate of growth below the historical average trend.

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

ATTACHMENT A
74 97
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
Housing Starts decreased month-over-monthin December by 4.3% to an annual rate of 1.460 million units. Starts for single-family homes were down 8.6%, while multi-family homes rose 7.5%. Total starts of new homes are up 15.8% year-over-year. Although single family home starts decreased in December, the National Association of Home Builders Market Index increased faster than expectations due to lower mortgage rates providing a boost in confidence for homebuilders. According to Freddie Mac, average 30-year fixed rate mortgage rates declined to 6.63% as of February 1st. According to the Case-Shiller 20-City Home Price Index, housing prices rose 5.40% year-over- year in November, accelerating from a 4.88% year-over-year gain in October. 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
75 98
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 Supply Management (ISM) Manufacturing index moved higher to 49.1 in January from 47.1 in December as demand moderately improved, while output remained stable. However, this marks the 15th consecutive month of contraction in factory activity below a reading of 50. The ISM Services Index rebounded to 53.4 in January from 50.6 in December due to steady business conditions across the sector. Respondents are optimistic about the economy due to the potential impact of interest rate cuts; however, they are cautious due to inflation, associated cost pressures and ongoing geopolitical conflicts.

Source: Institute for Supply Management

ATTACHMENT A
76 99
Gross Domestic Product (GDP)
Components of GDP 3/23 6/23 9/23 12/23

2. 5% 0.6% 2.1% 1.9%
-1.7% 0.9% 1.7% 0.4%

0.6% 0.0% 0.0% 0.4%

0.3% 0.1% 0.5% 0.2%

0.5% 0.5% 0.5% 0.4%

2.3% 2.1% 4.9% 3.3%
State and Local (Consumption and Gross
Investment)
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
-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 advance estim ate, fourth quarter GDP increased at an annualized rate of 3.3%, down from 4.9% in the third quarter. The headline growth was led by consumer and government spending. The consensus estimate calls for 2.3% growth in the first quarter and

1.5% growth for the full year 2024.

ATTACHMENT A
77 100
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
Recession
In $ millions
As expected at the January meeting, the Federal Open Market Committee voted unanimously to leave the federal funds rate unchanged at a target range of 5.25-5.50%. The Fed assesses the progress to achieving its employment and inflation goals are moving into better balance,
yet changes to monetary policy remain data dependent. The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. However, Fed Chair Powell signaled that the federal funds rate is likely at or near its peak. The futures market is pricing in 5 rate cuts in 2024. We believe the FOMC will loosen monetary policy in mid-2024 as inflation and economic growth continue to moderate. Since the Fed began its Quantitative Tightening campaign in June 2022, securities holdings have declined by over $1.3T to approximately $7.6T.

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
Recession
Yield (%)

ATTACHMENT A
78 101
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
Jan-24
Oct-23
Jan-23
Yield (%)
At the end of January, the 2-year Treasury yield was 1 basis point lower, and the 10-Year Treasury yield was 40 basis points lower, year- over-year. The inversion between the 2-year Treasury yield and 10-year Treasury yield narrowedto -30 basis points at January month-end versus -37 basis points at December month-end. The average historical spread (since 2003) is about +130 basis points. The inversion between 3-month and 10-year Treasuries was unchanged at -146 basis points in January from December. The shape of the yield curve indicates that the probability of recession persists.

ATTACHMENT A
79 102
Section 2|SECTION |
Section 2 |
Account Profile

ATTACHMENT A
80 103
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 December 31, 2023

ATTACHMENT A
81 104
Compliance As of December 31, 2023
Category Standard Comment
U.S. Treasuri es N o lim it Compli es
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 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; 10 years max maturity Compli es 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
Colla t
e ralize d Mortgage Obligations
"AA" rating category or higher by a NRSRO; 20% max (combined ABS/MBS/CMO); 5% max per Asset-Backed security issuer; 5 years max maturity 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 issue r;
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 FDIC Insure d/Collate ralize d Tim e
Deposits (Non-negotiable CD) 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 Compli es 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 maturi ty Complies
Commerci al Paper
40% 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) org
anized 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) organized 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 AUM >$500 m
illion
Complies
Local Agency Investment Fund (LAIF) Maximum amount permitted by LAIF; Not used by investment adviser Compli es California Asset Management Program CAMP; Not used by investment adviser Compli es Repurchase Agreements 1 year max maturity; 102% Collateralized; Not used by investment adviser Compli es Maxi mum Maturi ty
Investment program may include investments > 5 years, if in the judgment of the Treasurer, such investments should result in more favorable rate of return for the City; Donated securities are not subject to maturity limits; 30% max
for Investments maturing beyond a five-year horizon;
Investments greater than 5 years shall be permitted for U.S. Treasuries, U.S. Agencies or GSE obligations, and Municipal securities, 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; Maturity is measured from settlement date to final maturity
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
82 105
Portfolio Characteristics
City of Stockton Reserve Portfolio
12/31/23 09/30/23
Benchmark* Portfolio Portfolio
Average Maturity (yrs) 2.68 2.87 2.74
Average Modified Duration 2.52 2.47 2.39
Average Purchase Yield n/a 2.23% 1.96%
Average Market Yield 4.27% 4.57% 5.24%
Average Quality** AA+ AA/Aa1 AA/Aa1
Total Market Value 320,200,933 310,495,068
*ICE BofA US Issuers 1-5 Yr AAA-A US Corp/Govt Idx
**Benchmark is a blended rating of S&P, Moody’s, and Fitch. Portfolio is S&P and Moody’s respectively.

As of December 31, 2023

ATTACHMENT A
83 106
City of Stockton Reserve Portfolio
Sector Distribution
ABS

4.7%
Agency

22.2%
CMO

2.5%
Corporate

20.3%
Money Market
Fund

0.1%
Municipal Bonds

1.9%
Supranational

1.3%
US Treasury

45.7%
Commercial
Paper

1.4%
December 31, 2023 September 30, 2023
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%
As of December 31, 2023

ATTACHMENT A
84 107
Issue Name Investment Type % Portfolio
Government of United States US Treasury 45.73%
Federal National Mortgage Association Agency 10.07%
Federal Farm Credit Bank Agency 5.46%
Federal Home Loan Bank Agency 4.74%
Federal Home Loan Mortgage Corp CMO 2.33%
Federal Home Loan Mortgage Corp Agency 1.71%
JP Morgan ABS ABS 1.56%
MUFG Bank Ltd/NY Commercial Paper 1.38%
Deere & Company Corporate 1.36%
Merck & Company Corporate 1.35%
John Deere ABS ABS 1.33%
Wal-Mart Stores Corporate 1.28%
Inter-American Dev Bank Supranational 1.27%
Amazon.com Inc Corporate 1.26%
Morgan Stanley Corporate 1.22%
United Health Group Inc Corporate 1.16%
Novartis Capital Corp Corporate 1.12%
Charles Schwab Corp/The Corporate 1.03%
Pfizer Inc. Corporate 1.00%
National Rural Utilities Corporate 0.95%
Prologis Trust Corporate 0.90%
US Bancorp Corporate 0.85%
Microsoft Corporate 0.83%
Northern Trust Corp Corporate 0.68%
MasterCard Inc Corporate 0.67%
Target Corp Corporate 0.63%
Pepsico Inc Corporate 0.62%
Honeywell Corp Corporate 0.60%
Bank of America Corp Corporate 0.57%
Toyota Motor Corp Corporate 0.57%
Florida Hurricane Catastrophe Municipal Bonds 0.56%
Goldman Sachs Inc. Corporate 0.56%
JP Morgan Chase & Co Corporate 0.51%
Citigroup Inc Corporate 0.42%
American Express ABS ABS 0.40%
Honda ABS ABS 0.37%
Los Angeles Cmnty College Dis Municipal Bonds 0.28%
Tennessee Valley Authority Agency 0.26%
Issuers
City of Stockton Reserve Portfolio – Account #10020
As of December 31, 2023

ATTACHMENT A
85 108
Issue Name Investment Type % Portfolio
Discover Card Execution Note Trust ABS 0.24%
University of California Municipal Bonds 0.23%
San Diego Community College District Municipal Bonds 0.22% Maryland State Municipal Bonds 0.20%
BMW ABS ABS 0.19%
California Edl Facs Auth Rev Municipal Bonds 0.19%
Toyota ABS ABS 0.18%
New Jersey State Turnpike Authority Municipal Bonds 0.16% Hyundai Auto Receivables ABS 0.15%
Carmax Auto Owner Trust ABS 0.14%
State Street Bank Corporate 0.13%
BMW Vehicle Lease Trust ABS 0.13%
Federal National Mortgage Association CMO 0.12%
Federated GOVT Obligation MMF Money Market Fund 0.10%
California State Dept Water Municipal Bonds 0.02%
TOTAL 100.00%
Issuers
City of Stockton Reserve Portfolio – Account #10020
As of December 31, 2023

ATTACHMENT A
86 109
AAA AA A <A NR
12/31/23 7.2% 72.9% 14.8% 1.0% 4.2%
09/30/23 6.1% 73.6% 15.5% 1.0% 3.9%
Source: S&P Ratings
December 31, 2023 vs. September 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
12/31/23 09/30/23
Quality Distribution
City of Stockton Reserve Portfolio
As of December 31, 2023

ATTACHMENT A
87 110

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 US Issuers 1-5 Yr AAA-A US Corp/Govt Idx 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 5.9% 6.5% 11.6% 31.8% 18.7% 7.8% 2.1% 15.6%
Benchmark* 0.1% 0.0% 1.5% 34.9% 27.1% 22.2% 14.2% 0.0%
*ICE BofA US Issuers 1-5 Yr AAA-A US Corp/Govt Idx
Duration Distribution
City of Stockton Reserve Portfolio
As of December 31, 2023

ATTACHMENT A
88 111

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

5.00%
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 $1,651,249.14 $5,622,579.47 N/A N/A N/A N/A $6,933,950.17 Change in Market Value $8,104,658.18 $8,285,070.25 N/A N/A N/A N/A $2,141,278.82 TOTAL DOLLAR RETURN $9,755,907.32 $13,907,649.72 N/A N/A N/A N/A $9,075,228.99 Annualized
TOTAL RATE OF RETURN 3 months 12 months 2 years 3 years 5 years 10 years Since Inception
City of Stockton Reserve Portfolio 3.15% 4.61% N/A N/A N/A N/A 2.11% ICE BofA 1-5 US Treasury & Agency Index 3.09% 4.32% N/A N/A N/A N/A 1.57% ICE BofA 1-5 Yr AAA-A US Corp & Govt Index 3.18% 4.48% N/A N/A N/A N/A 1.69% Basis Point Fee* 0.00% 0.023% N/A N/A N/A N/A 0.029%
Net of Fee Return 3.14% 4.58% N/A N/A N/A N/A 2.08%
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 December 31, 2023

ATTACHMENT A
89 112
Purchase Yield as of 12/31/23 = 2.23%

0.00 0.50

1.00 1.50

2.00 2.50
Percent (%)
Historical Average Purchase Yield
City of Stockton Reserve Portfolio
As of December 31, 2023

ATTACHMENT A
90 113
SECTION |
Section 3 |
Portfolio Holdings

ATTACHMENT A
91 114
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
ABS
43813GAC5 Honda Auto Receivables Trust 2021-1 A3

0.270% Due 04/21/2025
120,159.19 02/24/2021

0.27%
120,156.99
120,159.03

98.79 6.20%
118,700.22

9.01 0.04%
(1,458.81)
Aaa / NR
AAA

1.31 0.20
44933LAC7 Hyundai Auto Receivables Trust 2021-A A3

0.380% Due 09/15/2025
165,568.24 04/28/2021

0.38%
165,550.83
165,566.13

98.59 5.75%
163,225.61

27.96 0.05%
(2,340.52)

NR / AAA
AAA

1.71 0.26
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
414,994.23

99.87 5.37%
414,475.86
356.90

0.13%
(518.37)
Aaa / AAA
NR

1.90 0.80
14316NAC3 CarMax Auto Owner Trust 2021-1 A3

0.340% Due 12/15/2025
116,397.75 01/27/2021

0.35%
116,374.75
116,397.75

98.16 5.95%
114,259.64

17.59 0.04%
(2,138.11)

NR / AAA
AAA

1.96 0.32
89239BAC5 Toyota Auto Receivables Trust 2021-C A3

0.430% Due 01/15/2026
588,471.42 09/27/2021

0.43%
588,424.52
588,458.35

97.34 5.74%
572,812.77
112.46

0.18%
(15,645.58)
Aaa / AAA
NR

2.04 0.50
14314QAC8 CarMax Auto Owner Trust 2021-2 A3

0.520% Due 02/17/2026
345,214.93 04/21/2021

0.53%
345,140.54
345,207.76

97.78 5.98%
337,556.68

79.78 0.11%
(7,651.08)

NR / AAA
AAA

2.13 0.40
44935FAD6 Hyundai Auto Receivables Trust 2021-C A3

0.740% Due 05/15/2026
341,804.47 11/17/2021

0.75%
341,728.17
341,779.37

97.28 5.70%
332,523.79
112.42

0.10%
(9,255.58)

NR / AAA
AAA

2.37 0.55
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
797,459.36

96.74 5.39%
771,519.05
205.58

0.24%
(25,940.31)
Aaa / AAA
NR

2.71 0.68
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
609,906.63
101.04

4.95%
616,341.56
556.12

0.19%
6,434.93

NR / AAA
AAA

4.16 1.78
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
1,084,844.50
100.87

4.79%
1,094,454.69
2,497.91

0.34%
9,610.19
Aaa / NR
AAA

4.21 1.96
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
1,269,908.59
100.73

4.59%
1,279,305.29
2,748.84

0.40%
9,396.70

NR / AAA
AAA

4.38 2.19
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
3,104,803.70
101.55

4.78%
3,153,195.81
7,562.40

0.99%
48,392.11
Aaa / NR
AAA

4.38 2.03
438123AC5 Honda Auto Receivables OT 2023-4 A3

5.670% Due 06/21/2028
1,050,000.00 11/01/2023

5.74%
1,049,815.10
1,049,822.66
102.09

3.84%
1,071,939.76
1,653.75

0.34%
22,117.10
Aaa / NR
AAA

4.48 1.09
161571HT4 Chase Issuance Trust 23-A1 A

5.160% Due 09/15/2028
4,915,000.00 Various

5.17%
4,920,147.11
4,920,072.45
101.55

4.59%
4,991,015.39
11,271.73

1.56%
70,942.94

NR / AAA
AAA

4.71 2.46
TOTAL ABS 14,925,116.00 4.52%
14,929,042.35
14,929,380.51 4.80%
15,031,326.12
27,212.45

4.70%
101,945.61
Aaa / AAA
AAA

4.07 1.83
Agency
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

98.75 5.59%
740,599.50
1,513.02

0.23%
(9,400.50)
Aaa / AA+
AA+

0.27 0.27
As of December 31, 2023

ATTACHMENT A
92 115
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
3135G0X24 FNMA Note

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

0.84%
4,542,673.20
4,414,208.27

96.90 4.78%
4,244,263.80
34,401.25

1.34%
(169,944.47)
Aaa / AA+
AA+

1.02 0.98
3130AJHU6 FHLB Note

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

0.60%
2,447,798.40
2,456,862.64

94.98 4.56%
2,336,515.38
2,630.83

0.73%
(120,347.26)
Aaa / AA+
NR

1.29 1.25
3135G03U5 FNMA Note

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

0.63%
10,879,060.80
10,879,795.84

95.08 4.54%
10,344,486.40
13,033.34

3.23%
(535,309.44)
Aaa / AA+
AA+

1.31 1.27
3135G04Z3 FNMA Note

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

0.54%
6,628,750.02
6,638,486.45

94.36 4.53%
6,268,095.49
1,291.60

1.96%
(370,390.96)
Aaa / AA+
AA+

1.46 1.42
3137EAEU9 FHLMC Note

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

0.48%
2,298,496.20
2,306,423.98

93.97 4.43%
2,170,771.68
3,850.00

0.68%
(135,652.30)
Aaa / AA+
AA+

1.56 1.52
3135G05X7 FNMA Note

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

0.47%
3,976,303.40
3,988,836.06

93.49 4.51%
3,734,993.42
5,243.44

1.17%
(253,842.64)
Aaa / AA+
AA+

1.65 1.61
3137EAEX3 FHLMC Note

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

0.44%
3,534,329.55
3,541,308.63

93.33 4.43%
3,308,647.76
3,618.85

1.03%
(232,660.87)
Aaa / AA+
AA+

1.73 1.68
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
2,263,609.63

93.45 4.48%
2,116,594.94
3,067.82

0.66%
(147,014.69)
Aaa / AA+
AA+

1.75 1.70
3135G06G3 FNMA Note

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

0.54%
8,127,104.90
8,138,365.09

93.15 4.40%
7,586,668.40
6,108.75

2.37%
(551,696.69)
Aaa / AA+
AA+

1.85 1.80
3130ATS57 FHLB Note

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

3.89%
4,211,028.00
4,193,956.22
102.36

3.88%
4,196,952.70
56,887.50

1.33%
2,996.48
Aaa / AA+
NR

4.19 3.75
3133EN7B0 FFCB Note

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

3.83%
2,985,090.00
2,987,078.39

97.80 4.16%
2,934,099.00
48,750.00

0.93%
(52,979.39)
Aaa / AA+
AA+

6.07 5.28
3133EN4V9 FFCB Note

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

4.22%
2,087,505.00
2,089,140.36

99.19 4.26%
2,082,998.40
23,581.25

0.66%
(6,141.96)
Aaa / AA+
AA+

6.73 5.75
3133ENQ45 FFCB Note

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

4.40%
866,250.00
867,464.17

99.44 4.34%
870,141.13
9,400.17

0.27%
2,676.96
Aaa / AA+
AA+

6.75 5.75
880591EX6 Tennessee Valley Authority Note

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

4.04%
818,959.53
838,903.08

82.83 4.12%
830,774.87
4,429.92

0.26%
(8,128.21)
Aaa / AA+
AA+

7.71 7.07
3133ENFQ8 FFCB Note

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

3.94%
1,939,056.91
1,977,354.85

83.84 4.23%
1,930,851.32
3,473.69

0.60%
(46,503.53)
Aaa / AA+
AA+

7.92 7.19
3133ENGS3 FFCB Note

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

4.35%
3,613,410.00
3,698,558.03

82.57 4.23%
3,715,492.50
4,468.75

1.16%
16,934.47
Aaa / AA+
AA+

7.95 7.26
3133EN6M7 FFCB Note

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

3.93%
3,017,490.00
3,015,828.62

97.74 4.30%
2,932,056.00
54,000.00

0.93%
(83,772.62)
Aaa / AA+
AA+

9.06 7.37
3130AV4X7 FHLB Note

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

4.04%
2,568,175.00
2,563,785.81
100.46

4.31%
2,511,430.00
33,420.14

0.79%
(52,355.81)
Aaa / AA+
NR

9.20 7.41
As of December 31, 2023

ATTACHMENT A
93 116
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
3130AVWG3 FHLB Note

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

4.40%
5,998,322.75
6,007,401.16

97.45 4.33%
6,036,897.41
14,455.01

1.89%
29,496.25
Aaa / AA+
NR

9.45 7.75
TOTAL Agency 74,948,500.00 1.94%
73,550,839.91
73,617,367.28 4.41%
70,893,330.10
327,625.33

22.24%
(2,724,037.18)
Aaa / AA+
AA+

3.91 3.44
CMO
3136AJB54 FNMA 2014-M4 A2

3.346% Due 03/25/2024
399,886.72 12/18/2019

2.04%
419,318.72
400,646.28

99.34 4.41%
397,266.66
1,114.96

0.12%
(3,379.62)

NR / NR
NR

0.23 0.42
3137F2LJ3 FHLMC K066 A2

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

4.88%
2,234,343.75
2,277,039.68

95.98 4.39%
2,303,608.80
6,234.00

0.72%
26,569.12

NR / NR
AAA

3.48 3.10
3137FG6X8 FHLMC K077 A2

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

4.65%
5,148,705.08
5,160,120.94

97.89 4.36%
5,134,514.08
3,365.54

1.60%
(25,606.86)

NR / NR
AAA

4.40 3.89
TOTAL CMO 8,044,886.72 4.59%
7,802,367.55
7,837,806.90 4.37%
7,835,389.54
10,714.50

2.45%
(2,417.36)

NR / NR
AAA

3.92 3.48
Commercial Paper
62479LE68 MUFG Bank Ltd Discount CP

5.530% Due 05/06/2024
4,500,000.00 11/29/2023

5.75%
4,390,091.25
4,412,902.50

98.06 5.75%
4,412,902.50

0.00 1.38%

0.00 P-1 / A-1
NR

0.35 0.34
TOTAL Commercial Paper 4,500,000.00 5.75%
4,390,091.25
4,412,902.50 5.75%
4,412,902.50

0.00 1.38%

0.00 P-1 / A-1
NR

0.35 0.34
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
1,062,553.19

99.76 5.82%
1,059,981.88
14,542.97

0.34%
(2,571.31)
A3 / A
A

0.10 0.09
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
2,317,416.13

99.52 5.47%
2,301,480.94
21,236.46

0.73%
(15,935.19)
A1 / A+
NR

0.18 0.18
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
3,202,133.99

99.49 5.40%
3,183,740.80
27,795.56

1.00%
(18,393.19)
A2 / A
A

0.21 0.20
57636QAB0 MasterCard Inc Note

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

2.67%
2,194,381.25
2,128,461.45

99.46 5.53%
2,113,461.25
17,929.69

0.67%
(15,000.20)
Aa3 / A+
NR

0.25 0.25
023135BW5 Amazon.com Inc Note

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

0.50%
1,540,247.95
1,542,228.77

98.23 5.40%
1,515,240.94
944.78

0.47%
(26,987.83)
A1 / AA
AA-

0.36 0.36
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
4,134,099.72

98.74 5.33%
4,048,524.50
56,152.92

1.28%
(85,575.22)
Aa2 / AA
AA

0.52 0.50
As of December 31, 2023

ATTACHMENT A
94 117
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
1,650,137.03

98.27 5.45%
1,621,476.45
16,610.00

0.51%
(28,660.58)
A3 / A
A

0.58 0.56
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
2,336,007.99

96.45 4.84%
2,273,877.12
13,997.66

0.71%
(62,130.87)
A2 / A
A+

1.03 0.99
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
2,719,376.68

97.85 4.69%
2,617,594.50
27,886.88

0.83%
(101,782.18)
Aaa / AAA
NR

1.12 1.07
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
1,891,859.72

96.72 4.85%
1,825,578.68
13,023.75

0.57%
(66,281.04)
A1 / A+
A+

1.12 1.08
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
3,708,792.64

96.83 4.69%
3,563,332.96
24,507.78

1.12%
(145,459.68)
A1 / AA-
AA-

1.13 1.08
023135CE4 Amazon.com Inc Note

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

3.06%
2,563,417.67
2,565,756.82

97.84 4.75%
2,512,095.92
16,688.75

0.79%
(53,660.90)
A1 / AA
AA-

1.28 1.23
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
1,355,013.13

98.30 6.12%
1,332,004.30
2,215.43

0.42%
(23,008.83)
A3 / BBB+
A

1.33 1.27
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
1,878,225.38

97.94 5.30%
1,780,037.69
7,383.59

0.56%
(98,187.69)
A2 / BBB+
A

1.39 1.33
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
2,014,298.84

95.46 4.70%
1,909,296.00
2,250.00

0.60%
(105,002.84)
A2 / A
A

1.42 1.37
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

96.97 5.91%
1,629,048.96
5,089.28

0.51%
(50,951.04)
A1 / A-
AA-

1.61 0.59
63743HFF4 National Rural Utilities Note

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

5.26%
3,015,750.00
3,009,625.80
101.00

4.87%
3,030,033.00
27,704.17

0.95%
20,407.20
A2 / A-
A

1.83 1.71
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

96.09 5.45%
420,399.00
3,076.72

0.13%
(17,101.00)
A1 / A
AA-

2.10 1.06
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

97.26 5.67%
1,823,546.25
15,686.25

0.57%
(51,453.75)
A1 / A-
AA-

2.25 1.20
6174468Q5 Morgan Stanley Callable Note Cont 4/28/2025

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

5.30%
2,072,268.00
2,119,226.89

96.07 5.29%
2,113,441.00
8,423.80

0.66%
(5,785.89)
A1 / A-
A+

2.33 1.28
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
3,735,408.71

92.57 4.49%
3,702,888.00
5,877.78

1.16%
(32,520.71)
A2 / A+
A

2.37 2.29
As of December 31, 2023

ATTACHMENT A
95 118
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
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
2,138,684.53

93.30 4.33%
1,996,562.22
19,242.17

0.63%
(142,122.31)
A2 / A
A

3.04 2.87
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
3,308,419.18

93.09 4.83%
3,258,062.50
28,106.94

1.03%
(50,356.68)
A2 / A-
A

3.17 2.97
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
2,204,532.22

98.65 4.44%
2,170,229.60
12,466.67

0.68%
(34,302.62)
A2 / A+
A+

3.36 3.09
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
2,904,054.58

95.47 4.64%
2,864,073.00
4,500.00

0.90%
(39,981.58)
A3 / A
NR

3.96 3.64
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
2,029,177.61
101.65

4.30%
2,033,096.00
42,486.11

0.65%
3,918.39
A2 / A
A+

4.06 3.58
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
1,969,871.53

97.89 4.16%
1,957,814.00
26,600.00

0.62%
(12,057.53)
A1 / A+
NR

4.14 3.74
61747YER2 Morgan Stanley Callable Note Cont 4/20/2027

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

5.41%
1,729,026.00
1,735,362.23

97.74 4.95%
1,759,352.40
14,945.50

0.55%
23,990.17
A1 / A-
A+

4.31 3.02
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
2,001,413.07

99.56 4.16%
1,991,210.01
9,900.00

0.62%
(10,203.06)
A1 / A+
NR

4.38 3.89
TOTAL Corporate 66,165,000.00 2.70%
66,339,373.33
65,654,637.83 4.96%
64,407,479.87
487,271.61

20.27%
(1,247,157.96)
A1 / A+
A+

1.88 1.65
Money Market Fund
60934N104 Federated Investors Government Obligations Fund 316,660.83 Various

5.22%
316,660.83
316,660.83

1.00 5.22%
316,660.83

0.00 0.10%

0.00 Aaa / AAA
AAA

0.00 0.00
TOTAL Money Market Fund 316,660.83 5.22%
316,660.83
316,660.83 5.22%
316,660.83

0.00 0.10%

0.00 Aaa / AAA
AAA

0.00 0.00
Municipal Bonds
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

98.31 5.02%
712,738.80
6,180.63

0.22%
(12,261.20)
Aa1 / AAA
NR

0.59 0.56
574193TQ1 Maryland State STE-GO

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

0.52%
647,318.70
647,473.50

97.21 5.43%
629,452.23
1,375.94

0.20%
(18,021.27)
Aaa / AAA
AAA

0.59 0.57
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

96.54 4.97%
603,390.00
713.54

0.19%
(21,610.00)
Aa2 / AA-
NR

0.84 0.81
As of December 31, 2023

ATTACHMENT A
96 119
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
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

96.09 4.97%
74,471.84

36.17 0.02%
(3,028.16)
Aa1 / AAA
NR

0.92 0.89
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

94.87 4.79%
721,001.36
857.49

0.23%
(38,998.64)
Aa2 / AA
AA

1.37 1.33
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
1,877,304.57

94.88 4.84%
1,779,056.25
11,793.75

0.56%
(98,248.32)
Aa3 / AA
AA

1.50 1.45
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

93.94 4.79%
906,514.25
3,108.10

0.28%
(58,485.75)
Aaa / AA+
NR

1.59 1.53
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

93.39 4.54%
520,652.04
2,918.51

0.16%
(36,847.96)
A1 / AA-
A+

2.01 1.93
TOTAL Municipal Bonds 6,232,500.00 1.04%
6,239,742.20
6,234,778.07 4.90%
5,947,276.77
26,984.13

1.87%
(287,501.30)
Aa2 / AA+
AA

1.26 1.22
Supranational
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
4,189,247.48

96.79 5.05%
4,055,383.68
5,703.06

1.27%
(133,863.80)
Aaa / AAA
NR

0.73 0.71
TOTAL Supranational 4,190,000.00 0.52%
4,186,899.40
4,189,247.48 5.05%
4,055,383.68
5,703.06

1.27%
(133,863.80)
Aaa / AAA
NR

0.73 0.71
US Treasury
912797GC5 US Treasury Bill

5.253% Due 01/11/2024
5,000,000.00 12/28/2023

5.34%
4,989,784.86
4,992,703.47

99.85 5.34%
4,992,703.47

0.00 1.56%

0.00 P-1 / A-1+
F-1+

0.03 0.03
9128286G0 US Treasury Note

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

0.35%
1,797,579.32
1,715,075.84

99.53 5.22%
1,701,448.26
13,719.44

0.54%
(13,627.58)
Aaa / AA+
AA+

0.16 0.16
912828W71 US Treasury Note

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

0.88%
3,046,537.50
2,974,004.14

99.20 5.34%
2,941,371.92
16,009.78

0.92%
(32,632.22)
Aaa / AA+
AA+

0.25 0.25
91282CBV2 US Treasury Note

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

0.40%
1,569,141.40
1,569,902.22

98.63 5.19%
1,548,412.50
1,254.71

0.48%
(21,489.72)
Aaa / AA+
AA+

0.29 0.29
912828X70 US Treasury Note

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

1.90%
2,267,729.29
2,258,185.38

98.95 5.19%
2,233,866.23
7,690.38

0.70%
(24,319.15)
Aaa / AA+
AA+

0.33 0.33
912828XX3 US Treasury Note

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

1.78%
4,738,365.63
4,694,799.44

98.44 5.20%
4,616,901.66
257.69

1.44%
(77,897.78)
Aaa / AA+
AA+

0.50 0.49
9128282N9 US Treasury Note

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

1.47%
1,289,453.12
1,254,598.16

98.31 5.09%
1,228,906.25
11,115.83

0.39%
(25,691.91)
Aaa / AA+
AA+

0.58 0.56
As of December 31, 2023

ATTACHMENT A
97 120
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
91282CCT6 US Treasury Note

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

0.42%
3,006,002.34
3,009,168.22

97.13 5.09%
2,923,697.28
4,263.49

0.91%
(85,470.94)
Aaa / AA+
AA+

0.62 0.61
9128282U3 US Treasury Note

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

1.28%
7,335,869.62
7,164,878.05

97.95 5.04%
6,991,402.52
45,222.14

2.20%
(173,475.53)
Aaa / AA+
AA+

0.67 0.64
91282CCX7 US Treasury Note

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

0.50%
1,571,769.24
1,576,124.62

96.84 4.98%
1,527,710.95
1,755.19

0.48%
(48,413.67)
Aaa / AA+
AA+

0.71 0.69
9128283D0 US Treasury Note

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

1.57%
1,755,582.03
1,709,273.84

97.84 4.92%
1,663,344.60
6,515.11

0.52%
(45,929.24)
Aaa / AA+
AA+

0.84 0.81
9128283J7 US Treasury Note

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

1.66%
5,578,317.09
5,479,862.19

97.57 4.87%
5,324,686.28
10,139.62

1.67%
(155,175.91)
Aaa / AA+
AA+

0.92 0.89
912828ZC7 US Treasury Note

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

0.53%
4,565,793.56
4,503,187.72

96.05 4.65%
4,295,872.03
17,002.26

1.35%
(207,315.69)
Aaa / AA+
AA+

1.16 1.13
912828ZL7 US Treasury Note

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

0.70%
2,958,391.99
2,984,718.74

94.63 4.57%
2,836,618.18
1,914.61

0.89%
(148,100.56)
Aaa / AA+
AA+

1.33 1.30
912828ZW3 US Treasury Note

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

0.70%
1,571,103.81
1,586,926.03

93.93 4.48%
1,500,464.66

10.97 0.47%
(86,461.37)
Aaa / AA+
AA+

1.50 1.47
91282CAJ0 US Treasury Note

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

0.56%
8,710,250.00
8,775,036.57

93.36 4.43%
8,233,955.10
7,450.97

2.57%
(541,081.47)
Aaa / AA+
AA+

1.67 1.62
91282CAT8 US Treasury Note

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

0.78%
3,425,898.44
3,466,639.34

92.89 4.33%
3,251,034.50
1,490.38

1.02%
(215,604.84)
Aaa / AA+
AA+

1.84 1.79
91282CAZ4 US Treasury Note

0.375% Due 11/30/2025
6,772,500.00 Various

0.94%
6,619,508.79
6,701,214.67

92.86 4.30%
6,289,167.00
2,220.49

1.96%
(412,047.67)
Aaa / AA+
AA+

1.92 1.87
91282CBC4 US Treasury Note

0.375% Due 12/31/2025
6,400,000.00 01/11/2021

0.49%
6,363,250.00
6,385,219.01

92.68 4.23%
5,931,251.20

65.93 1.85%
(453,967.81)
Aaa / AA+
AA+

2.00 1.95
9128286A3 US Treasury Note

2.625% Due 01/31/2026
1,707,500.00 02/04/2021

0.46%
1,890,055.76
1,783,748.59

96.86 4.22%
1,653,807.66
18,756.98

0.52%
(129,940.93)
Aaa / AA+
AA+

2.09 1.98
91282CBH3 US Treasury Note

0.375% Due 01/31/2026
17,305,000.00 Various

0.79%
16,971,456.65
17,157,915.13

92.39 4.23%
15,988,193.33
27,156.63

5.00%
(1,169,721.80)
Aaa / AA+
AA+

2.09 2.03
91282CBQ3 US Treasury Note

0.500% Due 02/28/2026
12,670,000.00 Various

0.94%
12,437,181.06
12,553,097.92

92.41 4.20%
11,708,372.34
21,406.73

3.66%
(844,725.58)
Aaa / AA+
AA+

2.16 2.11
91282CCF6 US Treasury Note

0.750% Due 05/31/2026
8,320,000.00 Various

0.80%
8,301,545.71
8,311,076.71

92.31 4.13%
7,680,075.52
5,455.74

2.40%
(631,001.19)
Aaa / AA+
AA+

2.42 2.35
91282CCZ2 US Treasury Note

0.875% Due 09/30/2026
3,700,000.00 04/05/2022

2.77%
3,406,746.09
3,520,321.52

91.85 4.04%
3,398,364.90
8,226.43

1.06%
(121,956.62)
Aaa / AA+
AA+

2.75 2.66
912828V98 US Treasury Note

2.250% Due 02/15/2027
2,650,000.00 09/30/2022

4.07%
2,458,185.55
2,513,126.77

94.93 3.99%
2,515,637.05
22,521.40

0.79%
2,510.28
Aaa / AA+
AA+

3.13 2.95
As of December 31, 2023

ATTACHMENT A
98 121
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
91282CBJ9 US Treasury Note

0.750% Due 01/31/2028
540,000.00 03/14/2022

2.15%
498,382.03
511,111.55

88.16 3.91%
476,086.14
1,694.84

0.15%
(35,025.41)
Aaa / AA+
AA+

4.09 3.93
91282CCY5 US Treasury Note

1.250% Due 09/30/2028
525,000.00 03/14/2022

2.17%
495,591.79
503,672.59

88.63 3.90%
465,281.25
1,667.52

0.15%
(38,391.34)
Aaa / AA+
AA+

4.75 4.51
9128286B1 US Treasury Note

2.625% Due 02/15/2029
6,500,000.00 Various

4.07%
6,047,519.53
6,070,374.55

94.15 3.90%
6,119,646.00
64,448.03

1.93%
49,271.45
Aaa / AA+
AA+

5.13 4.68
912828YB0 US Treasury Note

1.625% Due 08/15/2029
520,000.00 03/21/2022

2.29%
496,518.75
502,165.37

88.97 3.82%
462,658.04
3,191.71

0.15%
(39,507.33)
Aaa / AA+
AA+

5.63 5.24
91282CGJ4 US Treasury Note

3.500% Due 01/31/2030
6,000,000.00 Various

3.94%
5,847,578.13
5,856,858.56

97.80 3.91%
5,868,048.00
87,880.44

1.86%
11,189.44
Aaa / AA+
AA+

6.09 5.34
912828Z94 US Treasury Note

1.500% Due 02/15/2030
542,500.00 04/06/2022

2.66%
498,040.43
507,810.06

87.12 3.88%
472,631.97
3,073.68

0.15%
(35,178.09)
Aaa / AA+
AA+

6.13 5.70
91282CAE1 US Treasury Note

0.625% Due 08/15/2030
587,500.00 04/06/2022

2.65%
498,755.37
517,098.26

81.11 3.89%
476,540.64
1,386.93

0.15%
(40,557.62)
Aaa / AA+
AA+

6.63 6.34
91282CBL4 US Treasury Note

1.125% Due 02/15/2031
565,000.00 04/06/2022

2.63%
498,104.88
511,144.46

83.47 3.79%
471,620.76
2,400.87

0.15%
(39,523.70)
Aaa / AA+
AA+

7.13 6.67
912810FP8 US Treasury Bond

5.375% Due 02/15/2031
4,500,000.00 11/29/2023

4.23%
4,817,988.28
4,814,125.10
109.58

3.83%
4,931,190.00
91,360.39

1.57%
117,064.90
Aaa / AA+
AA+

7.13 5.85
91282CCS8 US Treasury Note

1.250% Due 08/15/2031
562,500.00 04/06/2022

2.63%
498,515.62
510,326.39

82.75 3.89%
465,446.81
2,655.83

0.15%
(44,879.58)
Aaa / AA+
AA+

7.63 7.08
91282CFV8 US Treasury Note

4.125% Due 11/15/2032
6,000,000.00 Various

3.72%
6,197,734.38
6,178,852.79
101.65

3.90%
6,098,904.00
31,957.42

1.91%
(79,948.79)
Aaa / AA+
AA+

8.88 7.35
91282CHT1 US Treasury Note

3.875% Due 08/15/2033
6,500,000.00 Various

4.72%
6,069,570.31
6,077,104.53

99.88 3.89%
6,491,875.00
95,137.57

2.06%
414,770.47
Aaa / AA+
AA+

9.63 7.85
TOTAL US Treasury 152,579,500.00 1.80%
151,089,798.35
151,201,448.50 4.40%
145,777,194.00
638,478.13

45.73%
(5,424,254.50)
Aaa / AA+
AA+

2.83 2.55
TOTAL PORTFOLIO 331,902,163.55 2.23%
328,844,815.17
328,394,229.90 4.57%
318,676,943.41
1,523,989.21
100.00%
(9,717,286.49)
Aa1 / AA
AA+

2.87 2.47
TOTAL MARKET VALUE PLUS ACCRUALS 320,200,932.62
As of December 31, 2023

ATTACHMENT A
99 122
SECTION |
Section 4 |
Transactions

ATTACHMENT A
100
123
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 10/31/2023 91282CHT1 5,500,000.00 US Treasury Note

3.875% Due: 08/15/2033

92.094 4.90% 5,065,156.25 44,594.09 5,109,750.34 0.00
Purchase 11/08/2023 438123AC5 1,050,000.00 Honda Auto Receivables OT 2023-4 A3

5.67% Due: 06/21/2028

99.982 5.74% 1,049,815.10 0.00 1,049,815.10 0.00
Purchase 11/29/2023 62479LE68 4,500,000.00 MUFG Bank Ltd Discount CP

5.53% Due: 05/06/2024

97.558 5.75% 4,390,091.25 0.00 4,390,091.25 0.00
Purchase 11/30/2023
912810FP8 4,500,000.00 US Treasury Bond

5.375% Due: 02/15/2031
107.066 4.23% 4,817,988.28 70,327.79 4,888,316.07 0.00
Purchase 12/04/2023
161571HT4 1,500,000.00 Chase Issuance Trust 23-A1 A

5.16% Due: 09/15/2028
100.406 5.05% 1,506,093.75 4,085.00 1,510,178.75 0.00
Purchase 12/28/2023 912797GC5 5,000,000.00 US Treasury Bill

5.253% Due: 01/11/2024

99.796 5.34% 4,989,784.86 0.00 4,989,784.86 0.00
Purchase 12/28/2023
9128286B1 1,000,000.00 US Treasury Note

2.625% Due: 02/15/2029

94.316 3.86% 943,164.06 9,629.76 952,793.82 0.00
Purchase 12/28/2023
91282CHT1 1,000,000.00 US Treasury Note

3.875% Due: 08/15/2033
100.441 3.82% 1,004,414.06 14,215.35 1,018,629.41 0.00
Subtotal 24,050,000.00 23,766,507.61 142,851.99 23,909,359.60 0.00 TOTAL ACQUISITIONS 24,050,000.00 23,766,507.61 142,851.99 23,909,359.60 0.00

DISPOSITIONS
Sale 11/09/2023
912828YM6 1,060,000.00 US Treasury Note

1.5% Due: 10/31/2024

96.379 0.35% 1,021,616.41 393.13 1,022,009.54 -50,234.79 Subtotal 1,060,000.00 1,021,616.41 393.13 1,022,009.54 -50,234.79 Call 10/24/2023 06051GJH3 1,907,500.00 Bank of America Corp Callable Note Cont 10/24/2023
Due: 10/24/2024
100.000 0.81% 1,907,500.00 0.00 1,907,500.00 0.00
Subtotal 1,907,500.00 1,907,500.00 0.00 1,907,500.00 0.00 September 30, 2023 through December 31, 2023
As of December 31, 2023

ATTACHMENT A
101
124
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 10/01/2023 13063DRJ9 2,192,500.00 California State TE-GO

2.4% Due: 10/01/2023
100.000 2,192,500.00 0.00 2,192,500.00 0.00
Maturity 11/15/2023 912828WE6 1,862,500.00 US Treasury Note

2.75% Due: 11/15/2023
100.000 1,862,500.00 0.00 1,862,500.00 0.00
Maturity 11/15/2023
91282CAW1 1,572,500.00 US Treasury Note

0.25% Due: 11/15/2023
100.000 1,572,500.00 0.00 1,572,500.00 0.00
Maturity 11/24/2023
459058JM6 1,870,000.00 Intl. Bank Recon & Development Note

0.25% Due: 11/24/2023
100.000 1,870,000.00 0.00 1,870,000.00 0.00
Maturity 11/27/2023
3135G06H1 3,047,500.00 FNMA Note

0.25% Due: 11/27/2023
100.000 3,047,500.00 0.00 3,047,500.00 0.00
Maturity 11/30/2023
912828U57 4,257,500.00 US Treasury Note

2.125% Due: 11/30/2023
100.000 4,257,500.00 0.00 4,257,500.00 0.00
Maturity 12/04/2023
3137EAFA2 2,222,500.00 FHLMC Note

0.25% Due: 12/04/2023
100.000 2,222,500.00 0.00 2,222,500.00 0.00
Maturity 12/08/2023
3130A0F70 1,712,500.00 FHLB Note

3.375% Due: 12/08/2023
100.000 1,712,500.00 0.00 1,712,500.00 0.00
Subtotal 18,737,500.00 18,737,500.00 0.00 18,737,500.00 0.00 TOTAL DISPOSITIONS 21,705,000.00 21,666,616.41 393.13 21,667,009.54 -50,234.79 September 30, 2023 through December 31, 2023
As of December 31, 2023

ATTACHMENT A
102
125
Important Disclosures
2023 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

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

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

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

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

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

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

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

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

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

As of December 31, 2023

ATTACHMENT A
103
126
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 US Issuers 1-5 Yr AAA-A US Corp/Govt Idx
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 December 31, 2023

ATTACHMENT A
104
127

ATTACHMENT B
128
City of Stockton
Legislation Text
File #: 24-0359, Version: 1

APPROVAL OF CITY COUNCIL MINUTES

RECOMMENDATION
Approve the minutes from the City Council meeting of January 9, 2024; February 21, 2024; February 28, 2024; March 12, 2024; and March 19, 2024
Attachment A - 2024-01-09 Minutes
Attachment B - 2024-02-21 Minutes
Attachment C - 2024-02-28 Minutes
Attachment D - 2024-03-12 Minutes
Attachment E - 2024-03-19 Minutes
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Attachment B
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Attachment C
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Attachment D
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Attachment E
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City of Stockton
Legislation Text
File #: 24-0351, Version: 1

ADOPT A RESOLUTION APPOINTING A MEMBER OF THE STRONG COMMUNITIES ADVISORY

COMMITTEE

RECOMMENDATION
It is recommended that the City Council adopt a resolution appointing Ernesto Gonzalez to the Strong Communities Advisory Committee to fill a term commencing immediately appointment and ending January 31, 2025

DISCUSSION
Background
On June 7, 2016, the Stockton City Council adopted Resolution 2016-06-07-1212 to adopt an Ordinance imposing a ¼ cent sales tax and authorizing the formation of a Citizens’ Advisory Committee through Ordinance 2016-06-07-1212 contingent upon voter consideration and approval at the November 8, 2016 general municipal election (Measure M).

Section 17 of the adopted Ordinance provides for the creation of a seven-member Citizens’ Advisory Committee. Members of the Committee shall be appointed by the City Council to serve two-year terms. As stated in the Ordinance, the Advisory Committee shall meet annually to review the expenditure of revenues generated by the tax and make recommendations to the City Council regarding those expenditures.

At the City Council meeting of July 25, 2017, the City Council discussed Committee appointment options. From these discussions, there was consensus that each member of the City Council, including the Mayor, shall nominate one member to the Committee. For Councilmember appointments, nominees need not be from their respective districts. The City Council shall then approve by majority vote all the nominations to the Committee.

Present Situation
There is currently a vacancy for the member representing Council District 6. After reviewing applications, Vice Mayor Warmsley has submitted Ernesto Gonzalez for appointment.

The terms of service for this appointment will begin upon ratification and expire on January 31, 2025

FINANCIAL SUMMARY
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File #: 24-0351, Version: 1
There is no financial impact to the General Fund from the appointment to this committee. Committee members do not receive remuneration.

Attachment A - Redacted Application
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Submit Date: Feb 23, 2024
Email Address
First Name Middle
Initial
Last Name
Street Address
City State Postal Code
Primary Phone Alternate Phone
Application for appointment and background information for City of Stockton Boards, Commissions, and Committees
Profile
Ethnicity
Gender
What district do you live in? *
District 4
I declare under penalty of disqualification/termination that I have been a resident at the above address for years/months?
3 years
The City of Stockton uses email as the preferred method of communication regarding your application. Is this acceptable to you?
Yes No
Are you currently serving on a City of Stockton Board, Commission, or Committee?
Yes No
Ernesto A Gonzalez
Stockton CA
Ernesto A Gonzalez
Attachment A
170
If yes, please list
I am currently the Chair of the Measure A Citizens' Advisory Committee and a member of the Strong Communities Advisory Committee.

Which Boards would you like to apply for?
Strong Communities Advisory Committee: Submitted
I have been a resident of Stockton for at least 3 years.

Yes No
Question applies to Strong Communities Advisory Committee,Measure W Oversight Committee Do you reside within Stockton’s geographic boundary?
Yes No
Question applies to Strong Communities Advisory Committee,Measure W Oversight Committee Are you an employee of any vendor, contractor or consultant doing business with the City of Stockton?
Yes No
Question applies to Strong Communities Advisory Committee Are you at least 18 years of age?
Yes No
Interests & Experiences
Please tell us about yourself and why you want to serve.

I was born and raised in this city and I've always seen so much potential here, but progress relies heavily on leadership. I believe that I can utilize critical thinking to analyze any topic and make decisions beneficial to a common good. I also have experience being on committees and nonprofit boards of directors.

Please state the reason you would like to be a member of this board/commission.

I was voted Chair of the Strong Communities Advisory Committee at our last meeting in January 2024. I'd like to serve in this capacity for a second term.

Ernesto A Gonzalez
Attachment A
171
Upload a Resume
Have you served on an advisory group before?
Yes No
If yes, please explain.

I was appointed to the Water Advisory Group by Dyane Burgos Medina in 2012. I have been a member of the Measure A Citizens' Advisory Committee since 2016, serving as Vice-Chair and currently as Chair. I recently completed my first terms a member of the Strong Communities Advisory Committee.

How did you hear about the position?
the City of Stockton's website
City Council Policy 100-2 states that Commissioners are required to attend meetings on a regular basis. If appointed, will you be able to attend meetings regularly and devote the time necessary to fulfill your duties as a member?
Yes No
Do you or immediate family members have any relationship (professional, financial, other) that may present a potential conflict of interest for this advisory group?
Yes No
Background Information
Based on your best judgment, does this Commission make decisions that may affect any sources of income, interests in real property, or investments of you or your spouse?
Yes No
Voter Registration (Questions appear if required)
Submit Application
Please identify any specialized accommodations needed for equal participation:
n/a
Ernesto A Gonzalez
Attachment A
172
Enter Your Initials:

EG
Date Signed
02/20/2024
Ernesto A Gonzalez
Attachment A
173
Resolution No.

STOCKTON CITY COUNCIL
______________________________________________________________________

RESOLUTION APPOINTING A MEMBER TO THE CITY OF STOCKTON STRONG

COMMUNITIES ADVISORY COMMITTEE

On June 7, 2016, the Stockton City Council adopted Resolution 2016-06-07-1212 calling for a measure to be placed on the ballot establishing the one-quarter cent special sales and use tax, and authorizing the formation of a Citizens’ Advisory Committee through Ordinance 2 016-06-07-1212 contingent upon vote r consideration and approval at the November 8, 2016, election; and

On November 8, 2016, the citizens of Stockton voted to approve Ordinance 2016-06-07-1212, thus authorizing the formation of the Citizens’ Advisory Committee .

Each member of the City Counc il, including the Mayor, shall nominate one member to the Committee. The members nominated are not required to be from specific Counc il Districts; and

On July 25, 2017, City Council directed staff to more closely align the terms of the Advisory Committee to coincide with each appo inting Councilmember ; now; therefore,

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STOCKTON, AS FOLLOWS:

1. In accordance with the provisions of Ordinance 2016 -06-07-1212, the following nominee for the Advisory Committee has been submitted for consideration and appointed to the City of Stockton Strong Communities Advisory Committee for a term to commence on appointment, and ending January 31, 2025:

Ernesto Gonzalez – District 6

2. 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 April 16, 2024 .

KEVIN J. LINCOLN II
Mayor of the City of Stockton
ATTEST:

ELIZA R. GARZA, CMC
City Clerk of the City of Stockton
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City of Stockton
Legislation Text
File #: 24-0365, Version: 1
RATIFYING THE SAN JOAQUIN COUNCIL OF GOVERNMENTS’ ANNUAL FINANCIAL PLAN FOR FISCAL YEAR 2024-25

RECOMMENDATION
It is recommended that the City Council approve a motion to ratify the San Joaquin Council of Governments’ Annual Financial Plan for Fiscal Year 2024-25.

Summary
The San Joaquin Council of Governments (SJCOG) requests ratification of its Annual Financial Plan (AFP) for Fiscal Year (FY) 2024-25. The SJCOG Joint Powers Agreement requires the AFP to be ratified by a majority of the seven-member governments, to which City of Stockton is a member. The AFP implements the SJCOG FY 2024-25 Overall Work Program, which includes ongoing and new projects and services.

There are no General Fund or unrestricted funds appropriated directly for SJCOG operations.

DISCUSSION
Background
The SJCOG is a joint-powers authority comprised of the City of Stockton, San Joaquin County, Lodi, Manteca, Tracy, Ripon, Escalon, and Lathrop. In addition, the Port of Stockton, San Joaquin Regional Transit District, and Caltrans District 10 are ex-officio members. The City of Stockton is represented by three of the twelve members of the SJCOG Board of Directors by appointees from City Council. Currently, members of the board include Mayor Lincoln, Vice Mayor Warmsley and Councilmember Blower
The SJCOG adopted the Annual Plan for FY 2024-25 on March 28, 2024, with their resolution R-24-

24. The SJCOG joint-powers agreement requires that a majority of the member governments ratify SJCOG’s budget each year.

Present Situation
Attached is a request for ratification of the SJCOG Annual Financial Plan, which implements the FY 2024-25 Overall Work Program (Attachment A). The Annual Financial Plan, included in Attachment A, provides an outline of expenditures and a line item comparing the proposed FY 2024-25 budget with the current FY 2023-24 amended budget. The total revenues and expenditures total $48,303,601.00, representing a 19.47% increase from the prior fiscal year.

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File #: 24-0365, Version: 1

FINANCIAL SUMMARY
The operations and projects of the SJCOG are funded through local sales tax, state and federal grants, special assignments, and fees. The City of Stockton may participate in funding specific infrastructure projects in cooperation with the San Joaquin Council of Governments; however, no General Fund or unrestricted funds are appropriated directly for SJCOG operations.

Attachment A - SJCOG FY 2024-2025 Annual Financial Plan City of Stockton Printed on 4/10/2024Page 2 of 2
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SAN JOAQUIN COUNCIL OF GOVERNMENTS
555 E. Weber Avenue Stockton, California 95202 P 209.235.0600 F 209.235.0438 www.sjcog.org David Bellinger
CHAIR
Diane Lazard

VICE-CHAIR
Diane Nguyen

EXECUTIVE DIRECTOR
Member Agencies

CITIES OF

ESCALON,

LATHROP,
LODI,

MANTECA,
RIPON,

STOCKTON,
TRACY,
AND

THE COUNTY OF SAN

JOAQUIN
April 2, 2024
Harry Black
City of Stockton
425 N El Dorado St.

Stockton, CA 95202
Dear Mr. Black:

On March 28, 2024 the SJCOG Board adopted the Annual Financial Plan for FY 2024-25. Attached is the board staff report as well as a copy of the adopting resolution. Pursuant to SJCOG's Joint Powers Agreement, following adoption of the budget by the SJCOG Board, it is to be delivered to member agencies for ratification by each governing body. Approval by a majority of the governing bodies representing 55% or more of the county's population is considered ratification.

Therefore, SJCOG requests you place SJCOG's Annual Financial Plan for FY 2024-25 on a forthcoming agenda prior to June 30, 2024, for ratification.

The Annual Financial Plan implements the FY 2024-25 Overall Work Program (OWP) that was also adopted by the SJCOG Board on March 28, 2024.

The attached excerpt of the Annual Financial Plan (AFP) provides a summary of revenues and expenditures by cost category and line item comparing the approved FY 2024-25 budgets with the current year (FY 2023-24) adopted budget, as most recently amended, along with FY 2022-23 actual expenditures. Revenues and expenditures total $ 4
,303,601.00. The approved AFP represents the general
fund budget for SJCOG. The revenues and expenditures in the AFP are the same as the Overall Work Program (OWP), however, presented in a traditional line-item format compared to the work element format of the OWP.

Readers should note several differences between SJCOG and its member agencies’ budgets:

SJCOG revenue sources are quite different from our member agencies.

SJCOG employs staff on an at-will basis, vis-à-vis civil service and has its own employee handbook and policies.

SJCOG has its own Financial and Accounting Policy guiding our financial matters including procurement procedures.

SJCOG employees are exempted from Social Security except for Medicare.

As noted below, SJCOG offers a defined contribution retirement plan to its employees. SJCOG has no CalPERS or post employments benefit obligations except limited sick leave conversion as noted.

The following assumptions are incorporated in the budget:

1. Work will not begin, and expenses will not be incurred unless anticipated revenue sources are secured.

2. The AFP anticipates SJCOG to be fully staffed. The budget includes a 7.00 % pool that can be drawn upon for merit-based increases and potential promotions. The full impact of that pool is incorporated into the salary-driven benefits (retirement, Medicare, disability).

3. SJCOG has no significant liability exposure for post-employment benefits. a. The employee retirement program is a defined contribution program managed by the International City Managers Association Retirement Program (Mission Square Retirement).
b. SJCOG employee vacation accruals are capped at two times the individual’s annual leave.
c. Upon separation with 50 years of age or 20 years of SJCOG employment, an employee can convert accrued sick leave hours to be deposited into a Retirement Health Savings Account to pay for health-related expenses. The conversion is based upon the employee’s salary at retirement.

ATTACHMENT A
177
SJCOG staff would be pleased to appear before your policymakers to answer any questions they might have regarding this matter. We request ratification prior to June 30, 2024. Please let me know when this will be on your agenda. If you have any questions regarding this matter, don't hesitate to contact me at (209) 235-0584.

Thank you for your assistance.

Sincerely,

STEVE DIAL
Deputy Executive Director/Chief Financial Officer
Attachments:

R-24-24
FY 2024-25 Annual Financial Plan Staff Report
FY 2024-25 Annual Financial Plan Board Summary

ATTACHMENT A
178

ATTACHMENT A
179

ATTACHMENT A
180

ATTACHMENT A
181

ATTACHMENT A
182

ATTACHMENT A
183

ATTACHMENT A
184

ATTACHMENT A
185

ATTACHMENT A
186
City of Stockton
Legislation Text
File #: 22-0924, Version: 1

ADOPT A RESOLUTION AUTHORIZING THE CITY MANAGER, OR HIS DESIGNEE, TO APPLY

TO THE SAN JOAQUIN COUNCIL OF GOVERNMENTS FOR REGIONAL EARLY ACTION PLANNING 2.0 GRANT PROGRAM (REAP 2.0) FUNDS IN THE AMOUNT OF $969,000 AND, IF

AWARDED, AUTHORIZE THE CITY MANAGER TO EXECUTE THE AGREEMENT WITH THE

SAN JOAQUIN COUNCIL OF GOVERNMENTS

RECOMMENDATION
It is recommended that the City Council:

2. If awarded, authorize the City Manager to execute the agreement with SJCOG and take whatever actions are necessary and appropriate to carry out the purpose and intent of the resolution.

Summary
REAP 2.0 is a State program intended to accelerate infill housing development, reduce Vehicle Miles Traveled (VMT), increase housing supply at all affordability levels, affirmatively further fair housing, and facilitate the implementation of adopted regional and local plans to achieve these goals. In 2023, the State originally allocated approximately $10.6 million in one-time REAP 2.0 funds to SJCOG for regional and local housing planning activities to accelerate housing production and facilitate compliance in implementing the sixth cycle of the Regional Housing Needs Allocation (RHNA). However, due to the recent State budget deficit, SJCOG anticipates only half of the allocation to be available. SJCOG is releasing these funds to member agencies by means of a self -scoring pass-through grant application process, with applications due by the end of April 2024.

Staff has identified various capital projects and planning activities for the Downtown area that align with SJCOG’s REAP 2.0 program objectives. These projects will implement General Plan housing policies to increase housing capacity and production while reducing VMTs by utilizing infill locations and coordinating housing projects with active transportation and transit networks.

Staff recommends Council approval of an application to SJCOG for the REAP 2.0 Grant Program for eligible REAP 2.0 capital projects and/or planning activities, and if awarded, authorization for the City Manager to execute the agreement, thereby accepting such funds. REAP funds must be encumbered by September 2025.

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File #: 22-0924, Version: 1

DISCUSSION
Background
In 2021, the City was awarded $621,150 in funding under the 2019 Regional Early Action Program (REAP 1.0). In addition to Permit Center software upgrades, this funding was allocated to planning activities supporting the acceleration of housing production in three Neighborhood Areas: South Airport Corridor, Little Manila/Gleason Park, and Cabral/East Cabral.

Building upon REAP 1.0’s efforts to accelerate housing production, REAP 2.0 was introduced to expand the program focus by integrating housing and climate goals and allowing for broader planning and implementation investments, including infrastructure. REAP 2.0 seeks to accelerate infill housing development, reduce Vehicle Miles Traveled (VMT), increase housing supply at all affordability levels, affirmatively further fair housing, and facilitate the implementation of adopted regional and local plans to achieve these goals.

Initially, REAP 2.0 was funded statewide in the amount of $600 million from the State General Fund. SJCOG was identified for receiving an allocation of approximately $10.6 million for the region in one-time grant funding for regional and local housing planning activities to accelerate housing production. It was anticipated that Stockton’s share of the REAP 2.0 allocation was approximately $1.93 million.

Present Situation
During recent 2024 State budget discussions, the State’s Legislative Analyst’s Office revealed they are projecting a budget shortfall of approximately $73 billion. To compensate for this shortfall, State representatives are looking to reduce spending on non-essential programs to reduce the deficit.

This means programs like REAP 2.0 will likely experience funding cuts that may be reduced by half or more for the amount of money SJCOG, and the City may receive.

While the final reduction amount will not be finalized until the State budget is complete, SJCOG staff now anticipates Stockton will receive somewhere between $484,644 and $969,000 in REAP

2.0 funding which is almost half of the original $1.93 million anticipated. While SJCOG staff is assuring that a minimum $484,644 in funding will be available for Stockton, SJCOG staff advises that any proposed project be broken into phases, should the State decide to cut funding further and not award the full $969,000. Based on this information, Staff proposes dividing the project scope of work into two phases for reimbursement, with the first phase consisting of work effort totaling $484,644 and the second phase including any remaining balance.

Grant guidelines and application have been released, with the submittal deadline of expected late April of 2024, for SJCOG to have encumbered the funds starting in September of 2025.

Community Development, Economic Development, Public Works and Municipal Utilities Department staff collaborated to determine the most effective project that could result in increased housing opportunities and generate the most development momentum. Upon review and discussion, it was determined that this should occur in downtown Stockton. The proposed project City of Stockton Printed on 4/10/2024Page 2 of 4
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File #: 22-0924, Version: 1
consists of the preparation of a city-initiated Master Plan to facilitate the development of new housing and linkages to public transit. The Master Plan is not intended to be a new policy document, but rather the first steps in establishing new capital improvement projects, partnerships, and funded mechanisms to ensure completion of said projects within a reasonable timeframe. The Master Plan would include:
· Use of consultants for design and opportunities/strategies for financing. This would establish a design concept for future CIP and funding mechanisms. · Outreach to establish interested owners, businesses, developers, consultants, officials, regional partners, and others with interest in the downtown area. · Hiring a consultant to explore funding mechanisms to achieve the design concept to further leverage future investment dollars. This can include the creation of an Enhanced Infrastructure Financing District (EIFD), special tax districts, bonds, grants, new market tax credits, private investment, and other options to achieve development of the downtown in a timely manner.

While the City has programs to assist the downtown area, it mostly relies on private investment for the improvements. The Master Plan would provide for a more proactive approach in establishing design, improvements, and how the city and private assistance could fund the work. The Master Plan is to be more construction-oriented and explore funding options that would expedite the improvements by providing financial assistance to both the public and private parties tasked with its success.

The Master Plan Area would be bounded by Flora Street to the North, Union Street to the East, Main Street to the South and the Mormon Slough to the West. The area was chosen due to the high density of leverageable dollars and potential projects located within the boundaries. Those include:

1. Robert J. Cabral Station

2. Downtown Transit Center

3. Possible workforce development centers

4. Current affordable housing projects and others in the pipeline

5. Several Brownfield sites.

6. Vacant/underutilized parcels
The project area also links to key Neighborhood Action Plans and investment in this area is supported by the Housing Action Plan, the Economic Development Strategic Action Plan. There is also overlap with the upcoming Caltrans Transportation Planning grant with SJCOG that will analyze the Downtown transportation network and identify programming recommendations to improve mobility and advance Transit Oriented Development (TOD) opportunities.

To submit a REAP 2.0 application to SJCOG, staff recommends authorizing the City Manager, or his designee, to apply for REAP 2.0 to fund efforts to establish a Downtown Master Plan. By supporting capital projects proposed by the Downtown Master Plan, the City can build upon the groundwork laid out for housing production while addressing neighborhood issues and supporting resident and employment priorities.

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File #: 22-0924, Version: 1
Environmental
The recommendation in this report is not a project under the California Environmental Quality Act (CEQA) because it does not involve any commitment to a specific project which may result in a potentially significant physical impact on the environment, as contemplated by Title 14, California Code of Regulations, Sections 15378(b)(2) and 15378(b)(4) and is, therefore, not subject to CEQA pursuant to CEQA Guidelines Section 15060(c)(3).

FINANCIAL SUMMARY
The City is current allotted to receive between $484,644 and $969,000 in reimbursements for eligible expenditures with no local fund match requirements. If awarded, the City’s Special Grant Fund’s budget will be amended in the amount of between $484,644 and $969,000 for reimbursable expenditures related to eligible REAP 2.0 projects.

During 2024 State budget discussions, the State’s Legislative Analyst’s Office revealed they are projecting a budget shortfall of approximately $73 billion. To compensate for this shortfall, State representatives are looking to reduce spending on non-essential programs to reduce the deficit.

This means programs like REAP 2.0 will see funding cuts that will reduce the amount of money SJCOG, and the City will receive. While the City is currently allotted to receive between $484,644 and $969,000, SJCOG staff has cautioned potential applicants that the State’s current budget deficit could impact future disbursement of the REAP 2.0 funds as the State looks to reducing spending for designated programs.

While the SJCOG staff has assured the City, at minimum $484,644 in funds will be available and likely a maximum of $969,000 in funding could be available, SJCOG staff recommends the reimbursement amount be broken into phases should the State decide to cut funding further and not award the full $969,000. City Staff proposed to divide the work scope into two Phases for reimbursement, with the first phase consisting of work effort totaling $484,644 and second phase including the remaining balance of $969,000. In the event the State withdraws payment of the entire $969,000, the City could either halt the remaining work items to avoid General Fund expenditures or move forward at a cost to the City.

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190

Resolution No.

STOCKTON CITY COUNCIL

A RESOLUTION AUTHORIZING THE CIT Y MANAGER, OR HIS DE SIGNEE, TO

APPLY TO THE SAN JOA QUIN COUNCIL OF GOVE RNMENTS (SJCOG) FOR REGIONAL EARLY ACTION PLANNING 2.0 GRANT PROGRAM (REAP 2.0) FUNDS IN THE AMOUNT OF $ 969,000 AND, IF AWARDED, AU THORIZE THE CITY

MANAGER TO EXECUTE THE AGREEMENT WITH SJCOG

Pursuant to Health and Safety Code section 50515 et. seq, the California Department of Housing and Community Development (Department) has provided funds for the MPO Direct Allocation Local Government Planning Support Grants Program (hereinafter referred to by the Department as the Regional Early Action Planning 2.0 Grants program or REAP 2.0); and

The funds provided by Department have been made available through the San Joaquin Council of Governments (SJCOG); and

The City of Stockton received $621,150 from the REAP 1.0 program in 2021; and

The City Council of the City of Stockton desires to submit a REAP 2.0 grant application package (“Application”) to SJCOG for approval of grant funding for projects that assist in accelerating infill development that facilitates housing supply, choice, and affordability, affirmatively furthers Fair Housing, reduces vehicle miles traveled , and assists Coronavirus economic recovery; now, therefore,

BE IT RESOLVED BY THE CITY COUN CIL OF THE CITY OF STOCKTON, AS FOLLOWS:

1. The City Manager or designee is hereby authorized and directed to apply for and submit a REAP 2.0 Application to SJCOG.

2. If the Application is approved by SJCOG, the City Manager or designee of the City of Stockton is authorized to submit the Application, enter into, execute, and deliver an SJCOG agreement in the amount up to $969,000, and any and all other documents required or deemed necessary or appropriate to evidence and secure the REAP grant, the Applicant’s obligations related thereto, and all amendments thereto; and appropriate up to $969,000 in revenues and expenditures in the 280 Fund.

3. The Applicant shall be subject to the terms and conditions as specified in the SJCOG REAP 2.0 Grant Guidelines and the Agreement provided by the SJCOG after approval. The Application and any and all accompanying documents are incorporated in full as part of the Agreement. Any and all activities funded, information provided, and 191

timelines represented in the Application will be enforceable through the ful ly executed Agreement. Pursuant to the SJCOG REAP 2.0 Grant Guidelines and in conjunction with the terms of the Agreement, the Applicant hereby agrees to use the funds for eligible uses and allowable expenditures in the manner presented and specifically id entified in the approved Application.

4. 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: April 16, 2024__ .

KEVIN J. LINCOLN II
Mayor of City of Stockton

ATTEST:

ELIZA R. GARZA, CMC
City Clerk of the City of Stockton
192
City of Stockton
Legislation Text
File #: 24-0039, Version: 1

ADOPT A RESOLUTION AUTHORIZING THE GRANT OF A UTILITY EASEMENT TO PACIFIC GAS AND ELECTRIC COMPANY LOCATED AT 666 WEST WEBER AVENUE

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

2. Authorize the City Manager to take whatever actions are necessary and appropriate to carry out the purposes of the Resolution.

Summary
PG&E is proposing to acquire a permanent underground utility easement over a portion of a parcel owned by the City located at 666 West Weber Avenue (Attachment A - Vicinity Map, Attachment B - Aerial Map, and Attachment C - Easement Location). The Public Works Department (PW) is requesting the easement to facilitate new electric services from PG&E for New City Hall located at 501 and 509 West Weber Avenue.

DISCUSSION
Background
PG&E is proposing to secure a permanent underground utility easement from the City to perform electrical upgrades and provide new electric services from PG&E for New City Hall. The proposed easement is located over a portion of a parcel owned by the City. The parcel on which the utility easement is proposed to be granted was acquired by the City in 1990 for redevelopment.

Present Situation
PG&E is proposing the City grant a permanent underground utility easement over a portion of a parcel owned by the City located at 666 West Weber Avenue (APN 137-370-02). The proposed action will provide PG&E with the permanent rights required to install and provide new electric services from PG&E for New City Hall.

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File #: 24-0039, Version: 1

NOTIFICATION
The Public Works, Community Development, MUD, Police, and Fire Departments and local utilities were notified of the proposed granting of an easement at this site. There are no utilities in the proposed easement area that would be impacted by the action. On April 5, 2024, as required by the City Charter Section 510, a Notice of Intention to Grant or Sell Real Property interest was advertised in the legal notice section of The Record
at least ten days prior to Council consideration of this action.

ENVIRONMENTAL CLEARANCE
It has been determined by the Community Development Department that this action/project is Categorically Exempt under California Environmental Quality Act (CEQA) and is granted a “general rule exemption” under Section 15061(B)(3) since there is no possibility that the activity in question would have significant effect on the environment and the activity is not subject to CEQA. In accordance with Section 65402 of the Government Code, the Community Development Department further determined that this activity/project conforms to the City’s General Plan Policy Document, as amended.

FINANCIAL SUMMARY
All advertising costs necessary to process the grant and sale of easement interests to PG&E, approximately $500, will be paid from the Real Property Publicity & Advertising Account.

Attachment A - Vicinity Map
Attachment B - Aerial Map
Attachment C - Easement Location
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City of Stockton, CA January 11, 2024
Vicini ty map - 666 West Weber Avenue
Property Information
Property ID 13737002-59908
Location 666 W WEBER AV
Owner STOCKTON CITY OF

MAP FOR REFERENCE ONLY

NOT A LEGAL DOCUMENT
City of Stockton, CA makes no claims and no warranties, expressed or implied, concerning the validity or accuracy of the GIS data presented on this map.

Geometry updated 05/03/2023
Data updated 05/01/2023
Print map scale is approximate.

Critical layout or measurement
activities should not be done using
this resource.
1" = 1928.4180042395424 ft

ATTACHMENT A
195
City of Stockton, CA January 11, 2024
Aerial map - 666 West Weber
Property Information
Property ID 13737002-59908
Location 666 W WEBER AV
Owner STOCKTON CITY OF

MAP FOR REFERENCE ONLY

NOT A LEGAL DOCUMENT
City of Stockton, CA makes no claims and no warranties, expressed or implied, concerning the validity or accuracy of the GIS data presented on this map.

Geometry updated 05/03/2023
Data updated 05/01/2023
Print map scale is approximate.

Critical layout or measurement
activities should not be done using
this resource.
1" = 241.0512234864855 ft

ATTACHMENT B
196
City of Stockton, CA February 16, 2024
666 W Weber Easeme nt
Property Information
Property ID 13737002-59908
Location 666 W WEBER AV
Owner STOCKTON CITY OF

MAP FOR REFERENCE ONLY

NOT A LEGAL DOCUMENT
City of Stockton, CA makes no claims and no warranties, expressed or implied, concerning the validity or accuracy of the GIS data presented on this map.

Geometry updated 05/03/2023
Data updated 05/01/2023
Print map scale is approximate.

Critical layout or measurement
activities should not be done using
this resource.
1" = 61.402142150759076 ft
dd,D
Ed
Easement location
197

Resolution No.

STOCKTON CITY COUNCIL

RESOLUTION AUTHORIZING T HE GRANT OF A UTILITY EASEMENT OVER A

PORTION OF A PARCEL OWNED BY THE CITY OF STOCKTON TO PACIFIC GAS AND ELECTRIC COMPANY LOCATED AT 666 WEST WEBER AVENUE

The grant of a utility easement to Pacific Gas and Electric Company, herein more particularly described in the Easement Deed with map and legal description attached as Exhibit 1 and incorporated by this reference, over a portion of a parcel owned by the City of Stockton is hereby authorized and approved; now therefore,

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF S TOCKTON, AS FOLLOWS:

1. The easement interests are being granted to prov ide a perman ent utility easement to Pacific Gas & Electric Company for electrical upgrades and to provide new electric services from PG&E for New City Hall.

2. The City’s Public Works, Community Development, Municipal Utilities, Police, and Fire Departments and local utilities have been notified of the proposed granting of an easement at the site and there are no objections to the proposed action.

3. In accordance with Government Code section 65402, this project/activity has been determined to conform to the City’s General Plan Policy Document, as amended.

4. This project is categorically exe mpt under the State CEQA Gu idelines as specified in section 15061(B)(3) of the State CEQA Guidelines.

5. Pursuant to the requirements of Article V, section 510, of the Stockton City Charter, a Noti ce o f In tention to Grant or Sell Real Pro perty Interest has been duly published.

6. Publication of the notice will be paid for by the City of Stockton.

//
//
//
//
//
//
//
//
//
198
2 7. The City Manager is hereby authorized to take whatever actions are necessary and appropriate to carry out the purpose of this Resolution.

PASSED, APPROVED and ADOPTED April 16, 2024 .

KEVIN J. LINCOLN II
Mayor of the City of Stockton

ATTEST:

ELIZA R. GARZA, CMC
City Clerk of the City of Stockton

199
Utility Distribution Easement (02/2020)

R
ECORDING REQUESTED BY AND RETURN TO:

PACIFIC GAS AND ELECTRIC COMPANY
3 00 Lakeside Drive, Suite 210
Oakland, CA 94612
Attn: Land Rights Library

Location: City/Uninc______________________
R
ecording Fee $_____________________________
Document Transfer Tax $ __________
[ ] This is a conveyance where the consideration and
Value is less than $100.00 (R&T 11911).
[ ] Computed on Full Value of Property Conveyed, or
[ ] Computed on Full Value Less Liens
& Encumbrances Remaining at Time of Sale
[ ] Exempt from the fee per GC 27388.1 (a) (2); This
document is subject to Documentary Transfer Tax

Signature of declarant or agent determining tax

(SPACE ABOVE FOR RECORDER'S USE ONLY)
LD# 2101-06-10093 EASEMENT DEED PM#35283823

C
ITY OF STOCKTON, a public body of the State of California,

hereinafter called Grantor, hereby grants to PACIFIC GAS AND ELECTRIC COMPANY, a California corporation, hereinafter called Grantee, the right from time to time to excavate for, construct, reconstruct, replace (of initial or any other size), remove, maintain, inspect, and use facilities and associated equipment for public utility purposes, including, but not limited to electric, gas, and communication facilities, together with a right of way therefor, on, and under the easement area as hereinafter set forth, and also ingress thereto and egress therefrom, over and across the lands of Grantor situated in the City of Stockton, County of San Joaquin, State of California, described as follows:

(APN 137-370-02)
Parcel 3 as shown upon the map titled Delta Gateway Unit No. 2 filed for record March 16, 1983 in Book 26 of Maps and Plats at page 67, San Joaquin County Records.

The easement area is described as follows:

Commencing at the Northeast corner of said Parcel 3 as shown upon said Map and running thence along the easterly boundary line of said Parcel
(1) south 11°37’49” east 5.00 feet;
thence leaving said easterly boundary line
(2) south 78°22’11” west 3.57 feet to the Point of Beginning of this decription; thence (a) south 11°37’49” east 1.50 feet; thence
EXHIBIT 1
200
Utility Distribution Easement (02/2020)

(
b) south 78°22’11” west 20.00 feet; thence
(c) north 11°37’49” west 1.50 feet; thence
(d) north 78°22’11” east 20.00 feet to the Point of Beginning.

The foregoing description is based on a survey made by Grantee in October 2023. The bearings used are based on a course in the southerly right of way of Weber Ave. which course according to the map filed for record March 16, 1983 in Book 26 of Maps and Plats at page 67, San Joaquin County Records, has a bearing of North 78°22’11” East and a distance of 639.72 feet.

Grantor further grants to Grantee the right, from time to time, to trim or to cut down, without Grantee paying compensation, any and all trees and brush now or hereafter within said easement area, and shall have the further right, from time to time, to trim and cut down trees and brush along each side of said easement area which now or hereafter in the opinion of Grantee may interfere with or be a hazard to the facilities installed hereunder, or as Grantee deems necessary to comply with applicable state or federal regulations.

Grantor also grants to Grantee the right to use such portion of said lands contiguous to said easement area as may be reasonably necessary in connection with the excavation, construction, reconstruction, replacement, removal, maintenance and inspection of said facilities.

Grantor hereby covenants and agrees not to place or c
onstruct, nor allow a third party to place or
construct, any building or other structure, or store flammable substances, or drill or operate any well, or construct any reservoir or other obstruction within said easement area, or diminish or substantially add to the ground level within said easement area, or construct any fences that will interfere with the maintenance and operation of said facilities.

Grantor further grants to Grantee the right to appor t
ion to another public utility (as defined in Section
216 of the California Public Utilities Code) the right to excavate for, construct, reconstruct, replace, remove, maintain, inspect, and use the communications facilities within said easement area including ingress thereto and egress therefrom.

The legal description herein, or the map attached hereto, defining the location of this utility distribution easement, was prepared by Grantee pursuant to Section 8730(c) of the Business and Professions Code.

This document may be executed in multiple counterparts, each of which shall be deemed an original, but all of which, together, shall constitute one and the same instrument.

The provisions hereof shall inure to the benefit of a
nd bind the successors and assigns of the respective
parties hereto, and all covenants shall apply to and run with the land.

Dated: __________________, _______.

EXHIBIT 1
201
Utility Distribution Easement (02/2020)

CITY OF STOCKTON

By:

Harry Black, City Manager
EXHIBIT 1
202
W. WEBER AVE.

ELECTROLIER

3.57'
S 78° 22' 11" W
P.O.B.
26-M&P-67
PARCEL 3

NE CORNER
P.O.C.

TC
FL
LIP
EX. 5' PUE
5' 5'
a)
b)
c)
d)
a)
b)
c)
d)
APN 137-370-03

R/W R/W
A.P.N. 137-370-02
26-M&P-67 PARCEL 3
DOC# 2017-117850

CITY OF STOCKTON

5.00'
S 11° 37' 49" E
PG&E #7 ELEC BOX
(BASIS OF BEARINGS)
N 78° 22' 11" E 639.72'
EXHIBIT "A"LD# 2101-06-10093

GRANTOR PARCEL LINE
LEGEND
S 11° 37' 49" E - 1.50'
S 78° 22' 11" W - 20.00'
N 11° 37' 49" W - 1.50'
N 78° 22' 11" E - 20.00'

LINE TABLE

PG&E UTILITY EASEMENT

HARDSCAPE FEATURE

EXISTING ELECTRICAL FACILITIES

POINT OF COMMENCMENT

POINT OF BEGINING

ASSESSOR PARCEL NUMBER
DOCUMENT NUMBER SAN JOAQUIN CO. RECORDS
P.O.B.

P.O.C.

A.P.N.

DOC#

PUBLIC UTILITY EASEMENT
Applicant:

SECTION TOWNSHIP RANGE

PLAT MAP

REFERENCES

MERIDIAN

DATESCALE
DRAWING NO.AUTHORIZDIVISIONPG&E
COUNTY OF:

F.B.: DR.BY: CH.BY: 1 NORTH 26-M&P-67
CITY OF:

STOCKTON 35283823
NTS 10/24/23
M.D.B. & M. 4
1 of NE 4
1 SW
10 ELEC U1023 35283823
BMPD VHS3

BOUNDARIES OR LINES

UNLESS OTHERWISE SHOWN ALL COURSES EXTEND TO OR ALONG
6 EAST

STOCKTONSAN JOAQUIN

PACIFIC GAS & ELECTRIC EASEMENT

CITY OF STOCKTON
EXHIBIT 1
203
Utility Distribution Easement (02/2020)

State of California
County of )

On __________________________, before me, Notary Public, Insert name
personally appeared
,
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

(Seal)
Signature of Notary Public

APACITY CLAIMED BY SIGNER

[ ] Individual(s) signing for oneself/themselves

[ ] Corporate Officer(s) of the above named corporation(s)

[ ] Trustee(s) of the above named Trust(s)

[ ] Partner(s) of the above named Partnership(s)

[ ] Attorney(s)-in-Fact of the above named Principal(s)

[ ] Other

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.

EXHIBIT 1
204
Utility Distribution Easement (02/2020)

HIS PAGE IS TO BE RECORDED WITH THE DOCUMENT

ADMINISTRATIVE BLOCK

Attach to LD: 2101-06-10093
A
rea, Region or Location: 5
Land Service Office: Stockton
Line of Business: Electric Distribution (43)
Business Doc Type: Easements
MTRSQ: 21.01.06.10.13,
FERC License Number: N/A
PG&E Drawing Number: 35283823
Plat No.: ELEC U1023
LD of Affected Documents: N/A
LD of Cross Referenced Documents: N/A
Type of interest: Electric Underground Easements (4), Utility Easement (86) SBE Parcel: N/A
% Being Quitclaimed: N/A
Order or PM: 35283823
JCN: N/A
County: San Joaquin
Utility Notice Number: N/A
851 Approval Application No: N/A ;Decision: N/A
Prepared By: BMPD
Checked By: VHS3
Approved By: N/A (N/A)
Revised by: N/A (N/A)
EXHIBIT 1
205
City of Stockton
Legislation Text
File #: 24-0114, Version: 1

RESOLUTION TO ADOPT THE SUMMARY VACATION OF A PORTION OF THE PUBLIC UTILITY EASEMENTS AT CANNERY PARK UNIT NO. 1 & UNIT NO. 12

RECOMMENDATION
It is recommended that the City Council adopt a resolution:

1. Approving the summary vacation of a portion of the public utility easements at Cannery Park Unit No. 1 & Unit No. 12.

3. Authorizing the City Manager, or designee, to take all the necessary and appropriate actions to carry out the purpose and intent of this resolution.

Summary
The applicant, Holman Investors, LLC, is requesting the abandonment of a portion of the public utility easement located at Cannery Park Unit No. 1 and Unit No. 12 at Eight Mile Road and Holman Road to allow for new residential units.

DISCUSSION
Background
Holman Investors, LLC (applicant) owns the real property at Cannery Park Unit No. 1 and Unit No. 12 located on Eight Mile Road, which contains 207 acres on the west side of Highway 99 south of Eight Mile Road in Stockton. The applicant also owns the adjacent parcels (Attachment A - Vicinity Map and Attachment B - Aerial Map).

Present Situation
Holman Investors, LLC has owned the property since 2002. The Project includes construction of the Cannery Drive and Signature Drive public industrial roadways to provide public access from Eight Mile Road and Holman Road to Cannery Park Large Lots 1, 2, and 3 as shown on the Cannery Park Unit No.1 Final Map (MP40-51) (Attachment C - Unit No. 1 Map). The Project also includes construction of storm drain, sanitary sewer, potable water, and dry utilities to serve development within Large Lots 1, 2, and 3.

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File #: 24-0114, Version: 1
As part of the development process, the applicant is seeking the vacation of a portion of the public utility easements currently in place so that updated public utility easements can be dedicated to the City at a later date based on the new Cannery Drive and Signature drive alignments. The proposed areas to be vacated consist of approximately 8.90 acres.

The Public Works, Community Development, Municipal Utilities, Police and Fire Departments, and local utilities were notified of the proposed vacation at this site, and no objections were received.

The City may perform this proposed public utility and access easement vacation as a summary vacation under Division 9, Part 3, Section 8333, et. seq., of the California Streets and Highway Code and a public hearing is not required. That code section provides, in relevant part, that:
“The legislative body of a local agency…may summarily vacate a public service easement…[if] [t]he easement has been superseded by relocation or determined to be excess by the easement holder, and there are no other public facilities located within the easement.” The proposed vacation area is not needed, and there are no public facilities within the easement to be vacated.

ENVIRONMENTAL CLEARANCE
It has been determined by the Community Development Department that this project is Categorically Exempt under California Environmental Quality Act (CEQA) guidelines and is granted a “general rule exemption” under Section: 15061 (B)(3) since there is no possibility that the activity in question would have significant effect on the environment and the activity is not subject to CEQA. The project is also not subject to any of the exceptions to the use of a Categorical Exemption listed at CEQA Guidelines Section 15300.2.

In accordance with Section 65402 of the Government Code, it has been determined that this project or action conforms to the City’s General Plan designation for the site and with the General Plan Policy Document, as amended.

FINANCIAL SUMMARY
The applicant, Holman Investors, LLC has paid the necessary fees to process these abandonments.

There is no financial impact to the City.

Attachment A - Vicinity Map
Attachment B - Aerial Map
Attachment C - Unit No. 1 Map
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City of Stockton, CA January 31, 2024
Attach ment A - Vicini ty Map - Canner y Park Unit No. 1 & Unit No. 12

MAP FOR REFERENCE ONLY

NOT A LEGAL DOCUMENT
City of Stockton, CA makes no claims and no warranties, expressed or implied, concerning the validity or accuracy of the GIS data presented on this map.

Geometry updated 05/03/2023
Data updated 05/01/2023
Print map scale is approximate.

Critical layout or measurement
activities should not be done using
this resource.
1" = 1495.556585231996 ft

ATTACHMENT A
Proposed
abandonment area
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City of Stockton, CA January 31, 2024
Aerial Map - Cannery Park Unit No. 1 & Unit No. 12

MAP FOR REFERENCE ONLY

NOT A LEGAL DOCUMENT
City of Stockton, CA makes no claims and no warranties, expressed or implied, concerning the validity or accuracy of the GIS data presented on this map.

Geometry updated 05/03/2023
Data updated 05/01/2023
Print map scale is approximate.

Critical layout or measurement
activities should not be done using
this resource.
1" = 1247.3977713314014 ft
Proposed
abandonment area

ATTACHMENT B
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ATTACHMENT C
SEE: C.O.C. INSTRUMENT# 2006-081669
210

ATTACHMENT C
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ATTACHMENT C
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ATTACHMENT C
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ATTACHMENT C
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Resolution No.

STOCKTON CITY COUNCIL

RESOLUTION AUTHORIZING THE SUMMARY VACATION OF A PORTION OF THE PUBLIC UTILITY EASEMENTS AT CANNERY PARK UNIT NO. 1 & UNIT NO. 12

Holman Investors, LLC owns the real property at Cannery Park Unit No. 1 and Unit No. 12, which contains 2 07 acres on the west side of Highway 99 south of Eight Mile Road in Stockton; and

Fee title to the property is vested in Holman Investors, LLC . The proposed vacation area consists of 8.90 acres over several parcels; and

The City may perform a summary vacation under Division 9, Part 3, section 8333, et. seq., of the California Streets and Highway Code and a public hearing is not required when the easement has been determined to be excess, and there are no public facilities located wit hin the easement. This vacation has been deemed excess and there are no public utilities located within the easement to be vacated; and

The Public Works Department concurs with the vacation of a portion of the public utility easement s located at Cannery Park Unit No. 1 and Unit No. 12 (Exhibits 1 -2); attached and incorporated by reference; now, therefore

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STOCKTON, AS FOLLOWS:

1. This action is taken pursuant to Chapter 4 of Part 3 of the California Streets and Highways Code section 8333, et seq., the Summary Vacation Procedure of the Public Streets, Highways, and Service Easements Vacation Law.

2. That all City departments and local utilities were notified and there were no objections to the proposed abandonment.

3. It is hereby found and determined that the subject property meets the criteria set forth in the Streets and Highways Code section 8333, provided below in relevant parts:

“The legislative body of a local agency…may summarily vacate a public service easement…[if] [t]he easement has been superseded by relocation or determined to be excess by the easement holder, and there are no other public facilities located within the easement.”

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4. The City Council hereby authorizes that the public uti lity easements located at Cannery Park Unit No. 1 and Unit No. 12 , more particularly described in Exhibits 1 -2 attached hereto an d incorporated by reference, is hereby declared to be vacated.

5. That the City Manager is authorized to approve the filing of Notice of Exemption No. NOE 57-23 under CEQA, a copy of which is attached as Exhibit 3 and incorporated by this reference.

6. In accordance with Section 65402 of the Government Code, this project/activity has been determined to conform to the City’s Gen eral Plan Policy Document, as amended.

7. Holman Investors, LLC has paid the necessary fees to process this vacation.

8. That 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 April 16, 2024 .

KEVIN J. LINCOLN II
Mayor of the City of Stockton

ATTEST:

ELIZA R. GARZA, CMC
City Clerk of the City of Stockton

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EXHIBIT 1
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EXHIBIT 1
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EXHIBIT 2
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EXHIBIT 2
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EXHIBIT 2
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EXHIBIT 2
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MEMORANDUM
Octob
er 30, 2023
TO:

Amanda Thomas, Real Property Agent
Economic Development Department
FR
OM: Nicole D. Moore, LEED-AP, Contract Planner
Community Development Department
SUBJ
ECT: CEQA NOE 57-23 – PUBLIC UTILITY EASEMENT ABANDONMENT The Com
munity Development Department received a request to review the above- referenced project for conformity with the Stockton General Plan and make an environmental determination pursuant to the California Environmental Quality Act (CEQA). The Applicant, Holman Investors, LLC, is proposing to abandon a public utility easement at Cannery Park Unit No. 1 & Unit No. 12.

See attachment A for specific location.

In acc
ordance with Government Code §65402, the Comm unity Development D epartment determines the project is in conformance with the Stockton General Plan. This determination is based on, but not limited to, conformance with General Plan Policy, LU -6.3 (Land Use) stating, “Ensure that all neighborhoods have access to well-maintained public facilities and utilities that meet community service needs.”
Conc
erning the California Environmental Quality Act (CEQA) determination, the Community Development Department concludes the project is Categorically Exempt under CEQA Guidelines and is granted a ‘general rule exemption’ under Section 15061(B)(3) since there is no possibility that the activity in question would have significant effect on the environment and the activity is no subject to CEQA. The project is also not subject to any of the exc eptions to the use of a Categorical Exemption listed at CEQA Guidelines §15300.2.

Up
on approval by City Council, the Economic Development Department is advised to complete the attached Notice of Exemption (Attachment B) and file it with the San Joaquin County Clerk Office to initiate a 35-day statute of limitations on court challenges. Please retain a copy of the original posted notice within the project file in the Economic Development Department project file.

By:

Nicole D. Moore, LEED-AP, Contract Planner
Attachments
Attachment A: Request and Project Location
Attachment B: Draft Notice of Exemption
EXHIBIT 3
223

MEMORANDUM
October 26, 2023
TO: Nicole Moore, Contract Planner
Community Developm
ent Department
FROM: Amanda Thomas, Real Property Agent
Economic Development Department
SUBJECT: ABANDONMENT – PUBLIC UTILITY EASEMENT
Please provide the appropriate environmenta l review for the above-referenced project as described below:

Project Title: Cannery Park Unit No. 1 & Unit No. 12 PUE abando nment
Applicant: Holman Investors, LLC
Description/Location: Cannery Pa rk Unit No. 1 & Unit No. 12 Also, please make the required determination as to c
onformity to the General Plan in
accordance with Section 65402 of the Government Code. If you have questions regarding this request, please direct them to me at extension 7569.

AMANDA THOMAS

REAL PROPERTY AGENT
Attachment
EXHIBIT 3
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EXHIBIT 3
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EXHIBIT 1
EXHIBIT 3
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EXHIBIT 2
EXHIBIT 3
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EXHIBIT 2
EXHIBIT 3
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EXHIBIT 2
EXHIBIT 3
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EXHIBIT 2
EXHIBIT 3
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EXHIBIT 3
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EXHIBIT 3
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EXHIBIT 3
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EXHIBIT 3
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EXHIBIT 3
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CIT Y OF STOCKTON

NOTICE OF EXEMPTION
TO: COUNT
Y CLERK FROM: Lead Agency
COUNTY OF SAN JOAQUIN City of Stockton
44 N. San Joaquin St., Ste. 260 c/o Economic Development Dept.

Stockton, CA 95202 400 E. Main St., 4th Floor
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
Proj
ect Title: Public Utility Easement Abandonment
CEQA Exemption File No.: NOE 57-23
Applicant: Holman Investors, LLC
Project Description/Location: The Applicant, Holman Investors, LLC, is proposing to abandon a public utility easement at Cannery Park Unit No. 1 & Unit No. 12. See attachment A for specific location.

DETE

RMINATION/FINDING OF EXEMPTION
The above
-described activity/project i s exempt from the envir onmental assessment requirements of the California Environmental Quality Act (CEQA) pursuant to the following section(s) of the State CEQA Guidelines (California Code of Regulations, Title 14):

The ac
tivity is not a "project" as defined in CEQA Guidelines Section 15378.

X The activity is exem pt under the "general rule" at CEQA Guidelines Section 15061(B)(3).

The proj ect is "Statutorily Exempt" per CEQA Guidelines Section: __________ The project is "Categorically Exempt" per CEQA Guidelines Section 15301(c).

BASIS F

OR FINDING OF EXEMPTION
The act ivity 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 signific ant effect on the environment and, therefo re, is exempt from the provisions of CEQA under the above-noted statutory or categorical exemption(s).

CARRI
E WRIGHT, DIRECTOR October 30, 2023

ECONOMIC DEVELOPENT DEPARTMENT (DATE OF PREPARATION)
By

AMANDA THOMAS, REAL PROPERTY AGENT (DATE OF FIN AL APPROVAL) _____________________________________________________________________________________________ AFFI

DAVIT OF FILING AND POSTING
I decl
are 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 3
236
City of Stockton
Legislation Text
File #: 24-0323, Version: 1
APPROVE MOTION TO EXECUTE AMENDMENT NO. 2 AND TWO ADDITIONAL ONE-YEAR EXTENSIONS TO THE ANNUAL SERVICE AGREEMENT WITH US DIGITAL DESIGNS, INC.

RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Authorize the City Manager to execute Amendment No. 2 to extend the Annual Service Agreement with US Digital Designs, Inc. for one additional year for an amount not to exceed $38,317.05; and

2. Authorize the City Manager to execute the remaining two (2) additional one-year extensions to the Annual Service Agreement with US Digital Designs, Inc. for an amount not to exceed $80,000.

3. Approve findings pursuant to Stockton Municipal Code section 3.68.070 in support of an exception to the competitive bidding process; and

4. Authorize the City Manager to take appropriate and necessary actions to carry out the purpose and intent of this motion.

Summary
Stockton Fire Department (SFD) utilizes a fire station alerting system to automate dispatching processes and directly alert suppression personnel of an emergency call at each fire station. SFD entered into an Agreement with US Digital Designs to provide software maintenance and hardware repair services to the fire station alerting system. It is recommended that City Council approve a motion authorizing the City Manager to execute Amendment No. 2 and two (2) additional one-year extensions for a total contract amount not to exceed $192,026.09.

DISCUSSION
Background
SFD’s fire station alerting system is a comprehensive communication and notification solution designed specifically for fire departments to swiftly alert and dispatch firefighters to emergency incidents, significantly reducing response times. Integrated with the Emergency Dispatch Center, the fire station alerting system automates alerts, ensuring quick and efficient communication between dispatchers and responders. US Digital Designs (USDD) manufactures the Phoenix G2 alerting system utilized in each of SFD’s 13 fire stations.

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File #: 24-0323, Version: 1
USDD provides a service agreement with a range of essential support features designed to provide comprehensive assistance and ensure the reliability, security, and optimal performance of SFD’s G2 alerting system. By leveraging these support resources, SFD can effectively address technical challenges, maintain productivity during emergencies, and maximize the value of USDD's products and services.

USDD’s service agreement includes technical phone support and remote access assistance available Monday through Friday, emergency support for Mission Critical Failures accessible 24 hours per day, system software updates released by USDD, and repair services for defective or malfunctioning hardware. These features provide SFD with a comprehensive support framework designed to address a wide array of potential technical issues. Furthermore, the availability of emergency support 24 hours per day ensures uninterrupted assistance during critical situations, helping SFD mitigate potential disruptions to operations.

Moreover, the system software updates and hardware repair services provided in this support agreement ensures SFD’s system remains up-to-date, secure, and reliable. Regular updates to system software help protect against emerging security threats, enhance system performance, and introduce new features and functionalities that contribute to the overall efficiency of SFD’s operations.

Additionally, prompt resolution of hardware issues minimizes downtime and extends the lifespan of SFD’s equipment, ultimately reducing the total cost of ownership.

Present Situation
On May 16, 2022, SFD entered into a one-year agreement with four (4) one-year options to renew with USDD to provide software maintenance and hardware repair services for SFD’s G2 system (Attachment A). On May 1, 2023, the first one-year renewal option was executed, utilizing the City Manager’s delegated administrative authority (Attachment B).

Currently, there are three (3) additional one-year renewal terms remaining. Staff recommends executing Amendment No. 2 to extend the support agreement for one additional year, from May 2024 through May 2025 (Attachment C). Additionally, Staff recommends authorizing the City Manager to execute two (2) additional one-year renewals (through May 2026 and May 2027), if needed, to continue support services. During the final one-year renewal option, SFD will complete a needs assessment of the G2 alerting system. In the event SFD needs to continue support services with USDD, a new multi-year agreement will be drafted and routed for Council approval.

Findings
Pursuant to Stockton Municipal Code section 3.68.070, Council may approve findings which support an exception to the competitive bidding process.

The proposed findings include:

1. SFD utilizes a G2 fire station alerting system for automated communications between the Emergency Dispatch Center and each of SFD’s 13 fire stations.

2. US Digital Designs manufactures the Phoenix G2 system and is the single available source for system support services.

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File #: 24-0323, Version: 1

3. US Digital Designs is qualified to provide support services to SFD’s G2 fire station alerting system.

FINANCIAL SUMMARY
Following is a cost summary of the 5-year service agreement. The two (2) remaining one-year renewals are estimated to cost the City $40,000 each, for a total contract amount of $192,026.09.

US Digital Designs Service Agreement Cost
Year 1 - Original Agreement (5/16/2022 to 5/15/2023) $35,653.93 Year 2 - Amendment No. 1 (5/16/2023 to 5/15/2024) $38,055.11 Year 3 - Amendment No. 2 (5/16/2024 to 5/15/2025) $38,317.05 Year 4 & 5 - Two One-Year Extensions (5/16/2025 to 5/15/2027) $80,000.00 Total $192,026.09
The Fire Department has sufficient annual budget allocation for the G2 annual maintenance service under Fire Suppression Equipment and Repairs Account 4020-000-630013-100-000-20-40-000-000-.

Costs for the subsequent years will be budgeted in the same account and subject to City Council approval during the annual budget development process.

Attachment A - Agreement
Attachment B - Amendment No. 1
Attachment C - Amendment No. 2
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us DIGITAL DESIGns
stationalerting.com

SERVICE AGREEMENT
This Service Agreement ("Agreement") is made by and between US Digital Designs, Inc. ("USDD"), with its principal place of business at 1835 East Sixth Street, Suite 27, Tempe, Arizona 85281, and the following entity ("Customer"):

City of Stockton
Attn: Deputy Chief Paul Salvestrin
400 E. Main Street, 4th Floor
Stockton, CA 95202
Telephone: (209) 937-8801
Email: [email protected]

1. Recitals. The Customer requires USDD to provide software maintenance and hardware repair services for its USDD fire station alerting system. USDD has agreed to service the Customer's System (as defined below) pursuant to the terms, conditions, and limitations of this Agreement. In consideration of the forgoing, and for other good and valuable consideration, the parties hereby agree to the terms set forth in this Agreement.

2. Definitions. For purposes of this Agreement, the following terms shall have the following meanings:
a. "Additional Services" shall have the meaning set forth in Section 7, below; b. "Application or App" shall mean the Phoenix G2 FSA Mobile Application for iOS and Android mobile devices.
c. "Commencement Date" shall be May 16, 2022;
US Digital Designs - Service Agreement Page 1 of 9

ATTACHMENT A
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d. "Hardware" means a physically tangible electro-mechanical system or sub-system and associated documentation provided to Customer by USDD, provided however, Hardware shall not include any televisions or monitors manufactured by third parties;
e. "Emergency Support" means telephone access for Customer's "System Administrator" (as defined below) to USDD's senior staff and engineers in the event of a Mission Critical Failure.
f. "Mission Critical Failure" means a failure in the materials, workmanship or design of the System that causes any fire station served by the System to be incapable of receiving dispatches through all communications paths, provided however, that any such failure caused by operator error, internet or telephony service outages, misuse or neglect of the System or any cause outside ofUSDD's direct control does not constitute a Mission Critical Failure. g. "Services" shall have the meaning set forth in Section 3, below; h. "Software" means software programs, including embedded software, firmware, executable code, linkable object code, and source code, including any updates, modifications, revisions, customization requested by Customer, copies, documentation, and design data that are licensed to Customer by USDD;

1. "System" means all Hardware and Software purchased by Customer either directly from USDD or authorized USDD Reseller under any contract, purchase order, or arrangement that is used exclusively by Customer as part of its fire station alerting system. provided however, that the term "System" specifically excludes any components, hardware, or software provided by third parties, including without limitation Customer's computers, lap tops, computer peripherals, monitors, televisions, routers, switches, operating systems, computer programs, applications, internet and network connections, and any other parts or items not provided to Customer directly by USDD;
j. "Term" means the period of time during which this Agreement is in effect, including the Initial Term and all Additional Terms, as defined in Section 9, below.

3. USDD Scope of Services. During the Term of this Agreement, USDD agrees to provide Hardware repair service and Software updates and maintenance for the System ( collectively the "Services"). Subject to all other terms and conditions contained in the Agreement, the Services shall include the following:
a. Technical phone support Monday through Friday from 08:00 to 17:30 MST, excluding USDD holidays;
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ATTACHMENT A
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b. Remote access support Monday through Friday from 08:00 to 17:30 MST, excluding USDD holidays;
c. Emergency Support, available 24 hours per day, for Customer's System Administrator in the event of a Mission Critical Failure; d. Updates for all System Software, as and when released by USDD; e. Twenty-four (24) App licenses per each ATX Station Controller that is part of the System and covered under this Agreement. Use of the App shall be strictly governed by the Mobile Application End User's Agreement that must be accepted by each user at the time the software is downloaded.
f. Repair of defective or malfunctioning Hardware (not otherwise covered under the USDD wainnty applicable to the Hardware) at USDD's principal place of business; and
g. Ground shipping for the return of repaired Hardware.

4. Hardware Repairs. If a Hardware component requires repair and a valid claim is made during the Term, at its option, USDD will, at its p1incipal place of business, either (1) repair the Hardware at no charge, using new parts or parts equivalent to new in performance and reliability or (2) exchange the Hardware with a product that is new or equivalent to new in performance and reliability and is at least functionally equivalent to the original Hardware. When a product or part is exchanged, any replacement item becomes the Customer's property and the replaced item becomes the property ofUSDD. Parts provided by USDD in fulfillment of the Services must be used in the System to which this Agreement applies. Customer shall be responsible for and bear all risks and costs of shipping any Hardware to USDD for repair. USDD shall be responsible for and bear all risks and costs of returning any Hardware to Customer after repair or replacement. Replacement Hardware will be returned to Customer configured as it was when the Hardware was originally purchased, subject to applicable updates.

5. Claims. Prior to requesting Services, Customer is encouraged to review USDD's online help resources. Thereafter, to make a valid claim hereunder, Customer must contact USDD technical support and describe the problem or defect with specificity. The first such contact must occur during the Term. USDD's technical support contact information can be found on USDD's web site: http://stationalerting.com/service-support/. Customer must use its best effo1ts to assist in diagnosing defects, follow USDD's technical instructions, and fully cooperate in the diagnostic process. Failure to do so shall relieve USDD of any further obligation hereunder.

6. Limitations. The Services specifically and expressly exclude any repair, software installation, update, or other service that is necessitated by the Customer's misuse or neglect of the System, damage arising from Customer's failure to follow instrnctions relating to the product's use, cosmetic damage, including but not limited to scratches, dents and broken plastic on ports, alterations or repairs to the System made by any person other than an authorized USDD US Digital Designs - Service Agreement Page 3 of 9

ATTACHMENT A
242
representative, failure of environmental controls or improper environmental conditions, modification to alter functionality or capability without the written permission of USDD, use with non-USDD products, any damage caused by fire, flood, vandalism, terrorism, riot, storm, lightning, or other acts of nature or civil unrest. The Services shall not include disassembly or re-installation of any Hardware at Customer's site. The Services shall not include the repair of any Hardware that is determined to be obsolete or irreparable in USDD's sole discretion. The Services shall not include repair or replacement of televisions or monitors manufactured by third parties. Repair or replacement of such components shall be subject exclusively to the manufacturer's warranty, if any. USDD shall not be liable to provide Services at any time when Customer is in breach of any obligation to USDD under this Agreement or any other contract.

7. Additional Services by USDD. Except for the Services, all other acts or performances requested or required ofUSDD by Customer ("Additional Services") will be charged at USDD's then current rates and will be in addition to all other fees and charges payable by Customer under this Agreement. Additional Services shall include (without limitation) Customer's use of Emergency Support in the absence of a Mission Critical Failure and any Services provided by USDD on a rush basis or during hours not included in the description of the Services set forth above. Customer shall pay all invoices for Additional Services within 30 days. Invoices remaining unpaid for more than 30 days shall bear interest at 18% per annum.

8. Authorized Support Contacts. In order to facilitate USDD's delivery of the Services, Customer shall appoint a minimum of one and a maximum of three contact people who are each authorized to make use of the support services ("Authorized Contacts"). The Customer must ensure that the Authorized Contacts have adequate expertise and experience to make an accurate description of malfunctions to make it possible for USDD to handle reports efficiently. Customer is responsible to select those personnel for this task who are suitable for it by means of training and function, and who have knowledge of Customer's network, hardware, and software systems.

The Authorized Contacts must also have completed USDD product training.

At least one Authorized Contact should be available to assist USDD as needed during the support process. Authorized Contacts are responsible for coordinating any actions needed by Customer's personnel or contractors including obtaining additional information from field or dispatch personnel, data network or communications system troubleshooting, and physical inspection or actions on the System components.

9. Customer Facilitation of Services. Customer will be responsible for providing the following:
a. The provision of remote access to the System, as more specifically described in Section 10 below;
b. The procurement and/or provision of all computers, peripherals, and consumables ( collectively "Customer Equipment"), including printer paper, toner and ink necessary for the operation, testing, troubleshooting, and functionality of the of the System;
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ATTACHMENT A
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c. Any configuration and regular maintenance that is normally undertaken by the user or operator as described in the operating manual for the Customer Equipment, including the replacement of UPS batteries as necessary; d. Providing a stable means of data transmission between the System Gateway and each fire station serviced by the System necessary for the installation, testing and functionality of the of the System; such means of data transmission may include, but is not limited to, TCP/IP, data modems, leased lines, radios, etc; e. The correct use of the System in accordance with USDD's operating instructions; and
f. The security and integrity of the System.

10. Remote Access. USDD requires remote network access to the Customer's System, including its Communications Gateways, Station Controllers, and other USDD-supplied equipment through Secure Shell (SSH) to perform implementation and support tasks under this Agreement. To enable this the Customer will provide USDD support personnel VPN or similar remote network access to the System for USDD support personnel ("Customer Support") to effectively troubleshoot critical or complex problems and to expedite resolution of such issues.

Remote network access is also used to install core System software upgrades and customized software. USDD will only access Customer's System with the knowledge and consent of Customer.
a. Alternative to Network Access. If the Customer elects not to provide remote network access to the System, then USDD may not be able to perform some support functions. Customers that elect not to routinely provide network access may temporarily reinstate this access to allow USDD to perform the above services. The following services will not be performed without this access:
• System software upgrades
• System software customization
• Network troubleshooting assistance including packet capture and network monitoring on USDD devices
• Detailed log analysis
• Bulk updates to System database tables
• Troubleshooting that requires low-level system access or large file transfer b. Timely Access. Customers much ensure that remote access is available prior to notifying USDD of a support request. In the event that the Customer is unable to provide remote access, USDD will not be required to provide support outside those tasks that do not require remote access, and any corresponding resolution response times will not apply.

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ATTACHMENT A
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c. Physical Security Tokens. USDD has multiple software engineers that provide after-hours support and these engineers do not typically take security tokens from the USDD office. If the customer requires the use of physical security tokens this may delay after hours service.

11. Renewal and Termination. The initial term of this Agreement shall begin on the Commencement Date and shall continue for one year ("Initial Term"). Unless previously terminated as set forth in this Section, Customer may renew this agreement for four ( 4) additional one-year terms ( each an "Additional Term") by written amendment signed by both parties.

11.1 Early Termination. This Agreement may be terminated by either party by providing written notice of termination to the other party at least 30 days prior to the requested termination date within the Initial Term or any Additional Term. USDD may terminate this Agreement for any breach hereof upon 30 days written notice. The notice shall specify the nature of the breach.

If Customer fails to cure the breach within 30 days, this Agreement shall be terminated.

Notwithstanding the foregoing, USDD may terminate this Agreement immediately upon non payment of any sum due from Customer under this Agreement or any other contract. Upon termination of this Agreement, all sums previously paid to USDD shall be nonrefundable.

12. Annual Fees. On or before the first day of the Initial Term and each Additional Term (each a "Due Date"), Customer shall pay USDD an Annual Fee in advance for the Services and to be delivered hereunder (the "Annual Fee"). The Annual Fee shall be the product of the total cumulative sales price of all Hardware, Software, and other tangible goods or equipment provided to Customer at any time under any circumstances ("Base Amount"), multiplied by .09.

Customer acknowledges and agrees that the Base Amount is cumulative and will increase by the purchase price of all Software, Hardware and Services purchased in the future. USDD may calculate the Base Amount, determine the Annual Fee and invoice Customer therefore 45 days prior to the subject Due Date. Customer shall pay the Annual Fee on or before the Due Date or 30 days after the date of the invoice, whichever is later. Annual Fees are nonrefundable.

13. Reinstatement. If Customer elects not to renew this Agreement for any Additional Term or otherwise terminates this Agreement, Customer may reinstate this Agreement upon the following terms:
a. Reinstatement of this Agreement must occur within five (5) years from the Initial Term or the last Additional Term elected by Customer, whichever occurs later.

USDD reserves the right to reinstate older Systems or not reinstate newer Systems in its sole discretion.
b. The multiplier for calculation of the Annual Fee shall increase by no more than 3 percentage points from the multiplier stated above. The multiplier for the new Annual Fee shall be at the sole discretion ofUSDD.
c. Customer shall pay a Reinstatement Fee along with the Annual Fee prior to the Commencement Date. The Reinstatement Fee and Annual Fee shall be calculated US Digital Designs - Service Agreement Page 6 of 9

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using the new multiplier described above. The Reinstatement Fee shall be a sum equal to two times the new Annual Fee, provided, however, if the System has been out of service and support for one year or less, the Reinstatement Fee shall be the amount of the new Annual Fee. The Reinstatement Fee is non-refundable. d. If Customer reinstates this Agreement and then declines to renew this Agreement for an Additional Term or otherwise terminate this Agreement, the System shall be deemed by USDD to have been abandoned by Customer. USDD will not provide further Services for the System, and Customer will not be allowed to reinstated service and support of the System through another Service Agreement.

14. Limited Warranty. USDD warrants that the Services performed hereunder will be carried out with due care and attention by qualified personnel. Defective Hardware subject to repair hereunder will be repaired to good working order. TO THE EXTENT PERMITTED BY

LAW, THIS WARRANTY AND REMEDIES SET FORTH ABOVE ARE EXCLUSIVE AND

IN LIEU OF ALL OTHER WARRANTIES, REMEDIES AND CONDITIONS, WHETHER ORAL OR WRITTEN, STATUTORY, EXPRESS OR IMPLIED. AS PERMITTED BY

APPLICABLE LAW, USDD SPECIFICALLY DISCLAIMS ANY AND ALL

STATUTORY OR IMPLIED WARRANTIES, INCLUDING, WITHOUT LIMITATION,

WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND WARRANTIES AGAINST HIDDEN OR LATENT DEFECTS. If USDD cannot lawfully disclaim statutory or implied warranties then to the extent permitted by law, all such warranties shall be limited in duration to the duration of this express warranty and to repair or replacement service as determined by USDD in its sole discretion. No reseller, agent, or employee is authorized to make any modification, extension, or addition to this warranty. If any term is held to be illegal or unenforceable, the legality or enforceability of the remaining terms shall not be affected or impaired. EXCEPT AS PROVIDED IN THIS WARRANTY AND TO

THE EXTENT PERMITTED BY LAW, USDD IS NOT RESPONSIBLE FOR DIRECT,

SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES RESULTING FROM ANY

BREACH OF WARRANTY OR CONDITION, OR UNDER ANY OTHER LEGAL THEORY, INCLUDING BUT NOT LIMITED TO LOSS OF USE; LOSS OF REVENUE; LOSS OF THE USE OF MONEY; LOSS OF ANTICIPATED SAVINGS; LOSS OF GOODWILL; LOSS OF REPUTATION; and LOSS OF, DAMAGE TO OR CORRUPTION OF DATA. USDD IS NOT

RESPONSIBLE FOR ANY INDIRECT LOSS OR DAMAGE HOWSOEVER CAUSED

INCLUDING THE REPLACEMENT OF EQUIPMENT AND PROPERTY, ANY COSTS OF

RECOVERING PROGRAMMING OR REPRODUCING ANY PROGRAM OR DATA

STORED OR USED WITH USDD PRODUCTS, AND ANY FAILURE TO MAINTAIN THE CONFIDENTIALITY OF DATA STORED ON THE PRODUCT. USDD disclaims any representation that it will be able to repair any hardware under this warranty or make a product exchange without risk to or loss of the programs or data stored thereon.

15. Force Majeure. Except for Customer's duty to pay sums due hereunder, neither party will be liable for any act, omission, or failure to fulfill its obligations under this Agreement if such act, omission or failure arises from any cause beyond its control including acts of nature, strikes, lockouts, riots, acts of war, acts of terrorism, epidemics, governmental action after the US Digital Designs - Service Agreement Page 7 of 9

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date of this Agreement, fire communication line failures, power failures, earthquakes or other disasters. The party unable to fulfill its obligations due to Force Majeure will immediately:
e. Notify the other in writing of the reasons for its failure to fulfill its obligations and the effect of such failure; and
f. Use all responsible endeavors to avoid or remove the cause and perform its obligations.

16. Headings and Usage. The headings, captions, and section numbers contained herein are provided for convenience only and are not part of the terms of this Agreement. When the context of the words used in this Agreement indicate that such is the intent, words in the singular shall include the plural, and vice versa, and the references to the masculine, feminine or neuter shall be construed as the gender of the person, persons, entity or entities actually referred to require.

17. Waiver. No failure or delay, in any one or more instances, to enforce or require strict compliance with any term of this Agreement shall be deemed to be a waiver of such term nor shall such failure or delay be deemed a waiver of any other breach of any other term contained in this Agreement.

18. Governing Law; Parties in Interest. California law shall govern any legal action pursuant to this Agreement with venue for all claims in the Superior Court of the County of San Joaquin, Stockton Branch or, where applicable, in the Federal District Court of California, Eastern District, Sacramento Division.

19. Execution in Counterparts. This Agreement may be executed in counterparts, all of which taken together shall be deemed one original. The date of this Agreement shall be the latest date on which any party executes this Agreement.

20. Entire Agreement. This Agreement contains the entire understanding between the parties, and supersedes any prior understandings and agreements between or among them with respect to the subject matter hereof. This Agreement may not be amended, altered, or changed except by the express Written agreement of the parties.

21. Joint Effort. This Agreement has been drafted through the joint efforts of the parties and shall not be construed against any party on the basis that such party is the drafter of this Agreement or any term thereof.

22. Savings Clause. In the event any part, provision, or term of this Agreement is deemed to be illegal or unenforceable, this Agreement shall be construed as if such unenforceable part, provision, or term had not been included herein. Such illegal or unenforceable part, provision, or term shall be deemed revised to the extent necessary to cure its defect and such revision and the remainder of the Agreement shall be and remain in full force and effect.

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23. Customer Representative. The undersigned representative of Customer hereby represents and wan-ants that s/he has the authority to bind Customer and that the execution, delivery and performance by Customer under this Agreement will not violate the provisions of any law, rule, regulation or policy, and will not conflict with or result in the breach or termination or constitute a default under any agreement or instrument to which Customer is a party.

24. Indemnity and Hold Harmless. To the fullest extent permitted by law, USDD shall hold haimless, defend at its own expense, and indemnify the City of Stockton, its officers, employees, agents, and volunteers, against any and all liability, claims, losses, damages, or expenses, including reasonable attorney's fees, arising from all acts or omissions of contractor or its officers, agents, or employees in rendering services under this contract; excluding, however, such liability, claims, losses, damages, or expenses arising from the City of Stockton's sole negligence or willful acts. The duty to defend and the duty to indemnify are separate and distinct obligations. The indemnification obligations of this section shall survive the te1mination of this agreement.

25. No Personal Liability. No official or employee of Customer shall be personally liable to USDD in the event of any default or breach by the Customer or for any amount due USDD.

City of Stock on:

Date: __ M_/,_nT4{t..,_e7_r __,_Z ...... a'-"'2=.____
J'.TTEST:
,fi,v CLERK OF THE
BY,'=..L.!.J;�LL.J!Uidi�:;.:=:;�-=�
US Digital Designs - Service Agreement
US Digital Designs, Inc.:

By tt As1m Akram, General Manager
Date: October 27, 2022

Page 9 of 9 ends

City Council and Concurrent AuthoritiesApril 16, 2024

City Council and Concurrent Authorities
April 16, 2024