Agenda packet — City Council and Concurrent Authorities, June 4, 2024 (part 1 of 7)

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
Kevin J. Lincoln II, Mayor/Chair (At Large)
Kimberly Warmsley, VIce Mayor (District 6)
Michele Padilla (District 1)
Daniel R. Wright (District 2)
Michael Blower (District 3)
Susan Lenz (District 4)
Brando Villapudua (District 5)
Council Chamber, City Hall, 425 N. El Dorado
Street, Stockton CA
Tuesday, June 4, 2024 3:00 PM
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 24-0578 CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION Number of Cases: One
Name of Case: Traffic Signal Technician Francis Koenig, (Workers’ Compensation Appeals Board Case
No.ADJ1589496)
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 24-0579 CONFERENCE WITH LABOR NEGOTIATOR
City of Stockton Page 1 Printed on 5/30/2024
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Financing Authority/Parking
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Meeting Agenda - Final
Recommended Action: Agency Designated Representative: City Manager Harry Black Employee Organizations: Unrepresented Units, Stockton City Employees' Association, Operating Engineer's Local 3, Mid-Management/Supervisory Level Unit, Unrepresented Management/Confidential, Law Department, Stockton Police Management Association, Stockton Firefighters Local 456 International Association of Firefighters, Stockton Fire Management, Stockton Police Officers' Association (SPOA)
This Closed Session is authorized pursuant to section 54957.6(a) of the Government Code.

Department: City Attorney

3.3 24-0580 PUBLIC EMPLOYEE PERFORMANCE EVALUATION:

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

Department: City Attorney

3.4 24-0581 PUBLIC EMPLOYEE PERFORMANCE EVALUATION:

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

Department: City Attorney

3.5 24-0582 PUBLIC EMPLOYEE PERFORMANCE EVALUATION:

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

Department: City Attorney

3.6 24-0583 CONFERENCE WITH LEGAL COUNSEL - POTENTIAL LITIGATION Number of Cases: One
Based on existing facts and circumstances a point has been reached where, in the opinion of the legislative body of the local agency on the advice of its legal counsel, there is a significant exposure to litigation against the local agency pursuant to Government Code sections 54956.9(d)(2) and 54956.9(e)(3).

Department: City Attorney

3.7 24-0584 PUBLIC EMPLOYMENT:

City of Stockton Page 2 Printed on 5/30/2024
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Financing Authority/Parking
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Meeting Agenda - Final
Recommended Action: City Clerk
This Closed Session is authorized pursuant to Government Code section 54957(b).

Department: City Attorney

3.8 24-0602 CONFERENCE WITH LABOR NEGOTIATORS
Recommended Action: Agency Designated Representative: City Manager Harry Black and City Attorney Lori Asuncion
Unrepresented employee: City Clerk
This Closed Session is authorized pursuant to section 54957.6 of the Government Code.

Department: City Attorney

4. CLOSED SESSION PUBLIC COMMENT*

5. RECESS TO CLOSED SESSION

6. REGULAR SESSION CALL TO ORDER/ROLL CALL

7. INVOCATION/PLEDGE TO FLAG

8. REPORT OF ACTION TAKEN IN CLOSED SESSION

9. ADDITIONS TO REGULAR SESSION AGENDA***

10. RECOGNITIONS, ANNOUNCEMENTS, OR REPORTS

10.1 24-0571 PROCLAMATION - NATIONAL GUN VIOLENCE AWARENESS MONTH
Department: Office of the Mayor

10.2 24-0573 PROCLAMATION - BALLOONS OVER BULLETS DAY
Department: Office of the Mayor

10.3 24-0599 PROCLAMATION - NECROTIZING FASCIITIS AWARENESS DAY Department: Office of the Mayor

11. PUBLIC COMMENTS* – MATTERS NOT ON THE AGENDA

12. CONSENT AGENDA
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12.1 24-0559 ACCEPT THE QUARTERLY INVESTMENT REPORT FOR QUARTER ENDED MARCH 31, 2024
Recommended Action: RECOMMENDATION
It is recommended that the City Council accept by motion the Quarterly Investment Report for the quarter ended March 31, 2024.

Department: Administrative Services
Attachment A -COMBINED QUARTERLY INVESTMENT REPORTS AT 03-31-2024 .pdf Attachment B - Certification of Quarterly Investment
Attachments:

12.2 24-0566 ADOPT A RESOLUTION APPOINTING A MEMBER TO THE

MEASURE W OVERSIGHT COMMITTEE
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution ratifying the appointment to the Measure W Committee of Anthony Sprague for a partial term commencing immediately and ending on January 31, 2025 Department: City Clerk
Attachment A - Redacted Application.pdf
Proposed Resolution - Appointment.docx
Attachments:

12.3 24-0569 ADOPT A RESOLUTION APPOINTING A MEMBER OF THE MEASURE A CITIZENS’ ADVISORY COMMITTEE
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution ratifying the appointment of Daniel Offield to the Measure A Citizens' Advisory Committee for a term beginning immediately upon appointment and ending January 31, 2027.

Department: City Clerk
Attachment A - Redacted Application
Proposed Resolution
Attachments:

12.4 24-0577 NOMINEES FOR THE CALIFORNIA CORRECTIONAL HEALTH CARE SERVICES FACILITY CITIZENS’ ADVISORY COMMITTEE
Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to nominate Dharma Arokiadass and Danielle Hibbitts to the California Correctional Health Care Services Advisory Committee (CAC), for selection by the Warden of the California Department of Corrections and Rehabilitation (CDCR).

Department: City Clerk
Attachments: Attachment A - Redacted Applications.pdf

12.5 24-0350 APPOINTMENT TO THE SAN JOAQUIN COUNTY REGIONAL City of Stockton Page 4 Printed on 5/30/2024
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Meeting Agenda - Final

TRANSIT DISTRICT BOARD
Recommended Action: RECOMMENDATION
It is recommended that City Council adopt a resolution reappointing Gary Giovanetti to the San Joaquin County Regional Transit District Board, for a term commencing July 1, 2024 and ending June 30, 2028.

Department: City Clerk
Attachment A - Redacted Application
Proposed Resolution - Appointment
Attachments:

12.6 24-0398 APPROVE MOTION TO EXECUTE A THREE-YEAR

COOPERATIVE/PIGGYBACK PURCHASE AGREEMENT WITH

ADVANCED HELICOPTER SERVICES FOR HELICOPTER
MAINTENANCE IN AN AMOUNT NOT TO EXCEED $385,650
Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Authorize the City Manager to execute a three-year
Cooperative/Piggyback Purchase Agreement between the City of Stockton and Advanced Helicopter Services (AHS) for helicopter maintenance not to exceed $385,650.

2. Approve findings pursuant to Stockton Municipal Code section

3.68.070 in support of an exception to the competitive bidding process; and

3. It is further recommended that the City Manager is hereby authorized and directed to make any and all expenditures and appropriations on behalf of the City as appropriate and necessary to carry out the purpose and intent of this motion.

Department: Police
Attachments: Attachment A - Coop Agmt - Advanced Helicopter Services

12.7 24-0487 APPROVE MOTION TO EXECUTE AN AMENDMENT TO THE STANDARD AGREEMENT WITH JOCELYN E. ROLAND, PH.D.,
ABPP, IN THE AMOUNT OF $117,840
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Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Authorize the City Manager to approve an amendment to the agreement with Jocelyn. E. Roland, Ph.D., ABPP, by executing a twoyear extension, at a cost of $117,840.

2. Approve findings pursuant to the Stockton Municipal Code section

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

3. Authorize and direct the City Manager to make any and all expenditures and appropriations on behalf of the City as appropriate and necessary to carry out the purpose and intent of this motion.

Department: Police
Attachments: Attachment A - Amendment 1 - Jocelyn E Roland

12.8 24-0546 APPROVE A MOTION TO ENTER INTO A COOPERATIVE

AGREEMENT WITH SHI GOVERNMENT SOLUTIONS AND THEIR
AUTHORIZED DEALER, CITY DETECT INC. THROUGH OMNIA

PARTNERS FOR TOTAL CLOUD SOLUTIONS AND SERVICES
Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Authorize the City Manager to execute a cooperative agreement (Attachment A) with SHI Government Solutions and their authorized dealer, City Detect, to provide Total Cloud Solutions and Services through a cooperative contract with Omnia Partners Contract Number R220804, for a total not-to-exceed amount of $712,800, and a term from June 1, 2024 through September 30, 2025, with the option to renew for two (2) additional one-year extensions;

2. Approve findings pursuant to Stockton Municipal Code Section

3.68.070 in support of an exception to the competitive bid process; and

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

Department: Police
Attachments: Attachment A - Coop Agreement with Omni Partners

12.9 24-0558 APPROVE A MOTION TO ESTABLISH THE PRE-QUALIFIED

CONSTRUCTION CONTRACTOR BIDDERS LIST FOR THE

ANIMAL SHELTER RENOVATION PROJECT
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Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to establish the Pre-Qualified Construction Contractor Bidders List for the Animal Shelter Renovation, Project No. P023001.

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 - Vicinity Map
Attachment B - Pre-Qualified Bidders List
Attachments:

12.10 24-0325 APPROVE MOTION TO AUTHORIZE A CONTRACT EXTENSION FOR

THE STREETSCAPE LANDSCAPE MAINTENANCE PROJECT
Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Approve findings pursuant to Stockton Municipal Code section

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

2. Authorize the City Manager to execute a three-year extension to the Service Contract with Al Fresco Landscaping, Inc. of Hollister, CA, in the amount of $7,234,026.95, for a new total not to exceed amount of $17,444,364.13 for the Streetscape Landscape Maintenance, Project No.

OM-19-010.

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
Attachments: Attachment A - Standard Agreement Amendment No. 3

12.11 24-0344 APPROVE MOTION TO AUTHORIZE A COOPERATIVE PURCHASE

AGREEMENT TO COMPLETE FUEL MANAGEMENT SYSTEM

TERMINAL UPGRADES
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Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Approve findings pursuant to Stockton Municipal Code section

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

2. Approve the use of a Cooperative Purchase Agreement through Sourcewell Contract No. 092920-EJW, to provide the City preferential pricing from E.J. Ward, Inc.

3. Authorize a contract with E.J. Ward, Inc. of San Antonio, TX, in the amount of $522,809.91 for the purchase and installation of new fuel terminals and fuel dispensing pumps, including necessary equipment and software, to complete fuel site upgrades at the Main Police Department, Municipal Utilities Department, and Public Works Operations and Maintenance fueling sites.

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
Attachments: Attachment A - Cooperative Agreement with EJ Ward

12.12 24-0519 APPROVE MOTION TO AUTHORIZE CONTRACT CHANGE ORDER NO. 2 FOR THE ON-CALL PARKS PUMP REPAIRS PROJECT
Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Authorize Contract Change Order No. 2 in the amount of $50,000 with Cornerstone Environmental Contractors, Inc. for the On-Call Parks Pump Repairs, Project No. OM-23-085.

2. Approve findings pursuant to Stockton Municipal Code section

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

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
Attachments: Attachment A - CCO No. 2 with Cornerstone

12.13 24-0541 APPROVE MOTION TO AUTHORIZE THE AQUATIC FACILITIES

RENOVATIONS - VICTORY PARK POOL PROJECT
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Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Approve findings pursuant to Stockton Municipal Code section

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

2. Approve and establish the Pre-Qualified Construction Contractor Bidders List for the Aquatic Facilities Renovations - Victory Park Pool, Project No. CR18020.

3. Award a Professional Services Contract in the amount of $607,706 to Roebbelen Construction Management Services, Inc. of El Dorado Hills, CA, for construction management services for the Aquatic Facilities Renovations - Victory Park Pool, Project No. CR18020.

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 - Vicinity Map
Attachment B - Pre-Qualified Bidders List
Attachment C - Professional Services Contract
Attachments:

13. ADMINISTRATIVE MATTERS

14. UNFINISHED BUSINESS

15. NEW BUSINESS

16. HEARINGS**

16.1 24-0378 ACCEPT THE 2023 ECONOMIC DEVELOPMENT SUBSIDY ANNUAL REPORT
Recommended Action: RECOMMENDATION
It is recommended that the City Council, by motion:

1. Accept the 2023 Economic Development Subsidy Annual Report, which includes all City-provided subsidies to developers for economic development purposes over $100,000; and

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

Department: Community Development
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Attachment A - Government Code 53083
Attachment B - Economic Development Subsidy 2023 Report PPT -16.1 2023 Economic Development Subsidy Annual Rpt
Attachments:

16.2 24-0410 APPEAL OF THE PLANNING COMMISSION APPROVAL OF A

TENTATIVE MAP, AND DESIGN REVIEW TO ALLOW THE

SUBDIVISION OF AN EXISTING PARCEL INTO FIVE LOTS FOR
RETAIL AND SERVICE COMMERCIAL DEVELOPMENT AT 10505
TRINITY PARKWAY (P23-0266) (APN 066-020-04)
Recommended Action: RECOMMENDATION
It is recommended that City Council adopt a resolution to:

1. Find no further environmental review is necessary from the California Environmental Quality Act (CEQA) as an Environmental Impact Report (EIR 3-87) (SCH #1987032415) was adopted and certified by the City of Stockton for the identified area and are companion documents to the Master Development Plan (MDP 1-00) adopted by City; and

2. Deny the Appeal and uphold the Planning Commission's approval of a Tentative Map and Design Review, subject to conditions, in accordance with the findings and subject to conditions in the proposed Resolution.

Department: Community Development
Attachment A - Aerial Photo
Attachment B - General Plan Land Use
Attachment C - Zoning Map
Attachment D - Appeal
Proposed Resolution - Approving
Exhibit 1 - Tentative Map
Exhibit 2 - Project Plans
Exhibit 3 - Project Architecture
PPT - 16.2 Appeal PC Decision 10500 Trinity Pkwy ((23-0266) Attachments:

16.3 24-0492 HOLD PUBLIC HEARING TO APPROVE THE ANNUAL BUDGET AND ASSESSMENT ROLLS FOR THE 2024-25 HOLIDAY PARK

MAINTENANCE DISTRICT
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Recommended Action: RECOMMENDATION
This scheduled noticed public hearing is being held to consider public comments and testimony regarding the Holiday Park Maintenance District 2024-25 proposed Assessment budget and the levy of assessments.

At the conclusion of the public hearing, if a majority protest does not exist, it is recommended that the City Council adopt a resolution to:

1. Override any and all public hearing protests.

2. Approve the Annual Budget for Holiday Park Budget for FY2024-25.

3. Confirm and approve the assessment of $46,598 for the Holiday Park Maintenance District for FY2024-25.

4. Authorize the City of Stockton Chief Financial Officer to assess those parcels within the assessment district.

5. Certify the assessments meet the requirements pertaining to the levy of annual assessments.

6. Approve a subsidy in the amount of $132,973, $1,911 from the General Fund (100-125) and $131,062 from the Strong Communities Fund (210-000) to continue operations and maintenance of the facility.

7. Authorize the City Manager to take appropriate actions to carry out the purpose and intent of the resolution.

Department: Community Services
Attachment A - Holiday Park Budget FY24 - 25
Attachment B - Holiday Park Assessment District Map
Proposed Resolution - Holiday Park FY24 - 25
PPT - 16.3 2024-25 Holiday Park Maint District Asmt
Attachments:

16.4 24-0504 HOLD PUBLIC HEARING FOR APPROVAL OF THE ANNUAL ENGINEER’S REPORT, FY 2024-25 ANNUAL BUDGET, AND

CONFIRM AND LEVY ASSESSMENTS FOR THE STOCKTON

CONSOLIDATED STORM DRAINAGE MAINTENANCE ASSESSMENT
DISTRICT 2005-1
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Recommended Action: RECOMMENDATION
The City Council, at its meeting on April 16, 2024, preliminarily approved and confirmed the Engineer's estimate of costs and expenses of the Consolidated Storm Drainage Maintenance Assessment District 2005-1 and the annual assessments related thereto and set a required public hearing for June 4, 2024.

It is recommended that the City Council now conduct a public hearing to consider public comment and testimony regarding the approval and adoption of the annual budgets and assessment rolls for the District.

After the public hearing, if a majority protest based on assessment amount does not exist, it is recommended that the City Council adopt a resolution to:

1. Overrule all public hearing protests or objections (including all written protests not withdrawn in writing before the conclusion of the public hearing) to the proposed levy of assessments in the District in each zone.

2. Approve and adopt the Stockton Consolidated Storm Drainage Maintenance Assessment District No. 2005-1 (District) Annual Engineer's Report for the Fiscal Year (FY) 2024-25, which contains the budget for each zone.

3. Confirm and levy the assessments for each zone as set forth in the Report.

4. File the assessments of a copy thereof, certified by the City Clerk or other City official, with the San Joaquin County Auditor and cause the assessments to be entered on the FY 2024-25 tax roll as set forth in the Annual Engineer's Report on file with the City Clerk.

It is further recommended that the City Manager be authorized to take all 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 Proposed Resolution - Consolidated District 2024-25
PPT- 16.4 2024-25 Consolidated Storm Drain Assmt Districts Attachments:

16.5 24-0529 HOLD PUBLIC HEARING FOR APPROVAL OF THE ENGINEER’S REPORT, FY 2024-25 ANNUAL BUDGETS, AND ASSESSMENTS

FOR INDUSTRIAL STORM DRAINAGE BASIN MAINTENANCE

DISTRICTS
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Recommended Action: RECOMMENDATION
It is recommended that the City Council conduct the public hearing called for at its meeting on April 16, 2024, to consider public comment and testimony regarding the approval and adoption of the annual budgets and assessment rolls for the six districts listed below (each a "District").

At the conclusion of the public hearing, if less than fifty percent of the owners of the assessable lands within a district file a protest of the proposed levy of annual maintenance assessments, it is recommended that the City Council adopt resolutions to:

2. Approve and adopt the preliminary Fiscal Year (FY) 2024-25 annual budget for each District.

3. Confirm and levy FY 2024-25 assessments for each of the following six industrial storm drainage basin maintenance Assessment Districts (Districts):
1) Western Pacific Industrial Park Storm Drainage Basin Maintenance District, Project Number 81-1 (Western Pacific)
2) Charter Way Industrial Site Storm Drainage Basin Maintenance District, Project Number 86-4 (Charter Way)
3) Arch Road Industrial Park Storm Drainage Basin Maintenance District, Project Number 84-2 (Arch Road)
4) Airport Gateway Center Storm Drainage Basin Maintenance District (Airport Gateway)
5) Stockton Airport Business Center Storm Drainage Basin Maintenance District, Project Number 84-1 (Stockton Airport)
6) North Newcastle Storm Pump Station and Basin Maintenance District, Project Number 20-1 (North Newcastle)

4. Approve and adopt the Engineer's Report (Report) showing the FY 2024-25 assessments and the adjusted drainage acres to be used in assessing the costs and expenses in connection therewith as the method of assessment to be used to pay the costs and expenses of the maintenance and operation.

5. Approve, confirm, and levy the assessments, as described in the Report, of the annual amount of costs and expenses to maintain and operate the improvements upon the several subdivisions of land in each District, in proportion to the estimated benefits to be received by said subdivisions from the operation of said improvements and of the related City of Stockton Page 13 Printed on 5/30/2024
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incidental expenses as described in each respective Report.

It is further 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 - Budgets and Fund Balance Projections
Proposed Resolution - Airport Gateway Center
Proposed Resolution - Arch Road Industrial Park
Proposed Resolution - Charter Way Industrial
Proposed Resolution - North Newcastle
Proposed Resolution - Stockton Airport Business Center
Proposed Resolution - Western Pacific Industrial Park
PPT 16.5 - 2024-25 Industrial Assessment Districts-Basin Attachments:

16.6 24-0437 ADOPT THE BUDGET FOR THE FISCAL YEAR 2024-25 STOCKTON

CONSOLIDATED LANDSCAPE MAINTENANCE ASSESSMENT
DISTRICT NO. 96-2
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Recommended Action: RECOMMENDATION
This public hearing is to consider public comments and testimony regarding the Fiscal Year (FY) 2024-25 Stockton Consolidated Landscape Maintenance Assessment District No. 96-2 (Consolidated Landscape District) Annual Engineer's Report, budget, and levy of assessments.

After the public hearing, if owners of more than 50 percent of the area of assessable lands within the Consolidated Landscape District have not protested the proposed levy of annual maintenance assessments, it is recommended that the City Council adopt a resolution to:

1. Overrule any and all protests or objections (including all written protests not withdrawn in writing before the conclusion of the public hearing) to the proposed levy of assessments in the Consolidated Landscape District in each zone.

2. Approve and adopt the Consolidated Landscape District's Annual Engineer's Report for the FY 2024-25 containing the budget for each zone and confirm and levy the assessments for each zone as set forth in the Annual Engineer's Report.

3. Certify that the special assessment(s), fee(s), or charge(s) to be placed on the FY 2024-25 Secured Property Tax bill by the City of Stockton are certified to meet the requirements of Proposition 218 that added Articles XIIIC and XIIID to the California State Constitution.

4. Confirm that the assessments of the annual amount of costs and expenses for the maintenance and operation of the improvements upon the assessable lands in the Consolidated Landscape District, as contained in the Annual Engineer's Report, shall be levied and collected for FY 2024-25. The assessments are in compliance with all laws pertaining to the levy of the annual assessment (State of California Streets and Highways Code Section 22500). The assessments are levied without regard to property valuation. The purpose of the assessments is to pay the costs and expenses for maintenance and operation of public parks and landscape improvements in public rights-of-way and public open spaces.

5. Authorize the City Manager or designee, on behalf of the City Clerk, to file the assessments or a copy thereof certified by the City Clerk with the San Joaquin County Auditor and cause the assessments to be entered on the FY 2024-25 tax roll for the parcels in the Consolidated Landscape District and each zone within the Consolidated Landscape District as set forth in the Annual Engineer's Report on file with the City Clerk.

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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Attachment A - Vicinity Map
Attachment B - Proposed FY 2024-25 Budget
Attachment C - Summary of Zones
Proposed Resolution
PPT -16.6 2024-25 Consolidated Landscape Maint Dist
Attachments:

16.7 24-0438 ADOPT THE BUDGET FOR THE FISCAL YEAR 2024-25 CENTRAL

STOCKTON LIGHTING MAINTENANCE ASSESSMENT DISTRICT
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Recommended Action: RECOMMENDATION
This public hearing is to consider public comments and testimony regarding the Fiscal Year (FY) 2024-25 Central Stockton Lighting Maintenance Assessment District (District) Annual Engineer's Report, budget, and levy of assessments.

After the public hearing, if owners of more than 50 percent of the area of assessable lands within the District have not protested the proposed levy of annual maintenance assessments, it is recommended that the City Council adopt a resolution to:

2. Approve and adopt the District's Annual Engineer's Report for the FY 2024-25 containing the budget for each zone and confirm and levy the assessments for each zone as set forth in the Annual Engineer's Report.

4. Confirm that the assessments of the annual amount of costs and expenses for the maintenance and operation of the improvements upon the assessable lands in the District, as contained in the Annual Engineer's Report, shall be levied and collected for FY 2024-25. The assessments are in compliance with all laws pertaining to the levy of the annual assessment (State of California Streets and Highways Code Section 22500). The assessments are levied without regard to property valuation. The purpose of the assessments is to pay the costs and expenses for administration, maintenance, and operation of the Central Stockton Lighting Maintenance Assessment District, Zone 4, Oxford Manor.

5. Authorize the City Manager or designee, on behalf of the City Clerk, to file the assessments or a copy thereof certified by the City Clerk with the San Joaquin County Auditor and cause the assessments to be entered on the FY 2024-25 tax roll for the parcels in the District, Zone 4, Oxford Manor, as set forth in the Annual Engineer's Report on file with the City Clerk.

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
PPT - 16.7 - Central Stockton Lighting Maint Assessment Dist Attachments:

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16.8 24-0450 RECEIVE RECOMMENDATION OF PROPOSED CHARTER

AMENDMENT LANGUAGE AND HOLD PUBLIC HEARING TO

SOLICIT COMMUNITY FEEDBACK REGARDING CHARTER

ARTICLES XI AND XI-A RELATED TO THE PUBLIC INFORMATION
OFFICE
Recommended Action: RECOMMENDATION
Staff recommends that the City Council receive the proposed Charter amendment language for Articles XI and XI-A regarding the Public Information Office and hold the second public hearing to solicit community feedback related to these recommendations.

Department: City Clerk
Attachment A - Proposed Charter Amendment (redline)
PPT
Attachments:

17. CITY MANAGER'S UPDATE

18. COUNCIL COMMENTS

19. ADJOURNMENT

INFORMATIONAL ITEMS

1. 24-0589 COUNCIL COMMITTEE/BOARD AND COMMISSION MINUTES Recommended Action: RECOMMENDATION
Information item only. No action required.

Department: City Clerk
Council Budget 2024-03-29
Council Legislation 2024-03-20
Council Legislation 2024-04-17
CSC 2024-03-21
CSC 2024-04-18
Attachments:

City of Stockton Page 18 Printed on 5/30/2024
18 City Council/Successor Agency to June 4, 2024
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final

CERTIFICATE OF POSTING
I declare, under penalty of perjury, that I am employed by the City of Stockton and that I caused this agenda to be posted in the City Hall notice case on May 30, 2024 in compliance with the Brown Act.

Katherine Roland, CMC, CPMC
Interim City Clerk
By: ________________________________
Deputy
City of Stockton Page 19 Printed on 5/30/2024
19 City Council/Successor Agency to June 4, 2024
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final

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

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

1. 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 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 City of Stockton Page 20 Printed on 5/30/2024
20 City Council/Successor Agency to June 4, 2024
the Redevelopment Agency/Public
Financing Authority/Parking
Authority Concurrent
Meeting Agenda - Final
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.

City of Stockton Page 21 Printed on 5/30/2024
21 City of Stockton
Legislation Text
File #: 24-0571, Version: 1

PROCLAMATION - NATIONAL GUN VIOLENCE AWARENESS MONTH
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22 City of Stockton
Legislation Text
File #: 24-0573, Version: 1

PROCLAMATION - BALLOONS OVER BULLETS DAY
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Legislation Text
File #: 24-0599, Version: 1

PROCLAMATION - NECROTIZING FASCIITIS AWARENESS DAY
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24 City of Stockton
Legislation Text
File #: 24-0559, Version: 1
ACCEPT THE QUARTERLY INVESTMENT REPORT FOR QUARTER ENDED MARCH 31, 2024

RECOMMENDATION
It is recommended that the City Council accept by motion the Quarterly Investment Report for the quarter ended March 31, 2024.

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 March 31, 2024, 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 $942.5 million as of March 31, 2024, which represents an increase of $30 million from the prior market value reported on December 31, 2023. This consolidated investment portfolio includes the City’s liquidity position, short-term investments, and the reserve portfolios (as shown on page 16 of Attachment A). The total market value-based earnings for the most recent quarter are shown on page 24 for PFM Asset Management (PFMAM) & page 94 for Chandler Asset Management (Chandler) 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 $61.5 million, with an interest earning of $830,782 for the quarter ended March 31, 2024.

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 #2022-06-21-1601).

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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, PFMAM and Chandler.

Present Situation
The attached report (Attachment A) details the activities of the quarter ended March 31. 2024, and includes detailed information on the holdings of the City’s portfolio on that date, as aggregated in the first page 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:

Quarter ended March 31, 2024.pdf (revize.com)
<https://cms3.revize.com/revize/stockton/Documents/Government/Budget%20And%20Financial% 20Reports/Debt%20and%20Investments/Quarterly/Quarter%20ended%20March%2031,% 202024.pdf>
Portfolio Balances and Performance
The first quarter of 2024 was characterized by continued economic resilience led by strong consumer spending, inflation that continues to slowly grind lower, and a robust labor market. The Federal Reserve (Fed) kept the overnight rate at its current target range of 5.25% to 5.50% at its March 20 meeting, as expected, marking the fifth consecutive pause following the last rate hike in July 2023. The Fed’s March “dot plot” implied three 0.25% rate cuts through 2024, while the number of cuts implied for 2025 was reduced from three to two. Markets entered the year pricing in over six cuts in 2024 but, by quarter end, converged to Fed projections. Yields increased notably higher during the quarter with the return of the Fed’s “higher-for-longer” stance. The yield on the 2-, 5-, and 10-year U.S. Treasuries rose 37 basis points (bps) (0.37%), 37 bps, and 32 bps, respectively. As a result of higher absolute yields, U.S. Treasury indices with longer durations generated negative total returns, with the breakeven point around the two-year maturity, as realized earnings weren’t enough to offset unrealized market value losses in longer-maturity securities. For example, the ICE BofA 3-, 5-, and 10-year U.S. Treasury indices returned -0.21%, -0.76%, and -1.61%, respectively.

The City divides its investment portfolio into Reserve and Liquid portions with a consolidated market value of approximately $942.5 million as of March 31, 2024. The Reserve portion represents the long-term assets managed by PFMAM and Chandler, and the Liquid portion represents funds invested in several short-term investment vehicles including State of California Local Agency Investment Fund, California Asset Management Program, and Dreyfus Treasury Money Market, to maintain adequate liquidity and optimize returns. The total returns on the consolidated portfolio for the third quarter of the fiscal year were positive, as interest earnings offset unrealized market value losses.

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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 each portfolio’s strategy and composition. City staff works closely with both PFMAM and Chandler to monitor the status of the City’s investment portfolios and their returns. For the quarter, the total return performance of the portfolios was negatively impacted by rising interest rates. The Chandler-managed portfolio, with its relatively shorter duration strategy, returned slightly positive performance for the quarter, while the longer-duration PFMAM managed portfolio’s performance was slightly negative--both portfolios outperformed their respective benchmark. These returns are detailed on page 24 for PFMAM and page 94 for Chandler in 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 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.

Looking ahead, Fed guidance has pointed to rates staying higher for longer as the Fed remains committed to restoring inflation to its long-term target of 2%. As such, yields are likely at or near cycle highs, and we expect the general trend will be for lower interest rates over the next several quarters as an eventual Fed cut approaches.

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

Attachment A - Quarterly Investment Report for Quarter Ended March 31, 2024 Attachment B - Certification of Quarterly Investment Report City of Stockton Page 3 of 3 Printed on 5/30/2024
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27 Investment Performance Review
For the Quarter Ended March 31, 2024
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
1 ATTACHMENT A
28 © PFM Asset Management LLC pfmam.com |
• Market Update
• Account Summary• Portfolio Review
2 ATTACHMENT A
29 © PFM Asset Management LLC pfmam.com |
Market Update
3 ATTACHMENT A
30 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Market Themes
▸ The U.S. economy is characterized by:
▹ Robust growth that continues to show surprising strength▹ Sticky inflation that remains above the Federal Reserve (Fed)’s 2% target▹ Labor markets continuing to show impressive job gains and low unemployment▹ Resilient consumer spending supported by wage growth that is outpacing inflation ▸ Federal Reserve reaffirms rate cut expectations
▹ Forecast of 75 basis points of cuts this year▹ After entering the year expecting 6 cuts in 2024, markets have adjusted their expectations to only 2 to 3 cuts in 2024
▹ Fed officials reaffirm that restoring price stability is the priority, but further confidence in inflation moving toward the 2% target is needed, which may delay the timing of rate cuts ▸ Treasury yields increase following the change in market expectations ▹ Yields on maturities between 2 and 10 years rose 30-40 basis points during the quarter▹ Yield curve inversion persists▹ Spreads in most sectors fell to multi-year lows given the strong economic environment

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
4 ATTACHMENT A
31 1.5%

2.5%3.5%4.5%5.5%6.5%7.5%8.5%9.5%
Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Consumer Price Index
Year-Over-Year Changes
CPI CPI Forecast Fed Target
Inflation Remains Range Bound After Significant
Decline in CPI in 2022 and Early 2023
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 March 31, 2024
Market Update
Source: Bloomberg, as of 4/10/2024.

CPI exceeds expectations
Federal Reserve Inflation Target

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
5 ATTACHMENT A
32 Source: Bloomberg. Job openings as of February 2024. Monthly change in nonfarm payrolls and unemployment rate as of March 2024. Data is seasonally adjusted.

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

CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Labor Market Remains Strong
05 10152025
Feb-20 Feb-21 Feb-22 Feb-23 Feb-24
Millions
Job Openings vs. Unemployed Workers
Job Openings Unemployed

2.3mm gap
146
278
303
240
184
210
246
165
182
290
256
270
303
0 50
100150200250300350400450500
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Thousands
Monthly Change In
Nonfarm Payrolls
Jobs-to-jobless ratio
continues to come into better
balance
829K Q1
637K Q4
Apr-20

14.8 Mar-24

3.8 0%2%4%6%8%
10%12%14%16%
2020 2021 2022 2023 2024
Unemployment Rate

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
6 ATTACHMENT A
33 Source: Bureau of Economic Analysis, U.S. Department of Commerce; as of March 28, 2024.

GDPNow estimates provided by the Federal Reserve Bank of Atlanta; as of April 4, 2024. The Atlanta Fed GDPNow estimate is a model-based projection not subject to judgmental adjustments. It is not an official forecast of the Atlanta Fed, its president, the Federal Reserve System, or the Federal Open Market Committee. Bloomberg Forecasts as of March 2024.

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

CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Atlanta Fed

2.6% GDPNow Forecast

2.2% 2.1%

4.9%

3.4%

2.0%
0%1%
2%3%4%5%6%
Q
4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Forecast
U.S. GDP

2.5%
Bloomberg Forecast
Consumer Spending Continues to Drive Strong Economic Growth

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
7 ATTACHMENT A
34 Summary of Economic Projections Show Stronger Economic Story © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: Federal Reserve, latest economic projections as of March 2024.

For the Quarter Ended March 31, 2024
Market Updat
e

4.6%

3.9%

3.1%

2.6%
0%2%
4%6%8%
2024 2025 2026 Longer
Run
Federal Funds Rate
December Projections March Projections

2.6%

2.2% 2.0% 2.0%
0%1%
2%3%4%
2024 2025 2026 Longer
Run
PCE Inflation
December Projections March Projections

4.0% 4.1% 4.0% 4.1%
0%1%
2%3%4%5%6%
202
4 2025 2026 Longer
Run
Unemployment Rate
December Projections March Projections

2.1% 2.0% 2.0% 1.8%
0%1%
2%3%4%
2024 2025 2026 Longer
Run
Change in Real GDP
December Projections March Projections

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
8 ATTACHMENT A
35 Market Reversed Course and Now
Expects a Slower Pace of Rate Cuts
Source: Bloomberg, as of March 2024.
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
Market reprices
expectations for
number of cuts
in 2024 in
response to
hotter than
expected
inflation and a
resilient labor
market

2.0%2.5%3.0%3.5%4.0%4.5%5.0%5.5%
Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25
Implied Fed Funds Rate
3-Month Range Fed Funds as of March 28, 2024 Fed Funds as of January 02, 2024 +72 bps
+76 bps

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
9 ATTACHMENT A
36 Yields Reprice on Fed Patience
Source: Federal Reserve, Bloomberg, as of 3/31/2024.
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
From the
March 24 FOMC
Meeting
Press Conference

4.62%
3%4%5%6%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
2-Year Treasury Yield

4.35%
3%4%5%6%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
10-Year Treasury Yield
+37 bps
+32 bps
“…the Committee needs to see more evidence to build our confidence that inflation is moving down sustainably toward our 2 percent goal, and we don’t expect that it will be appropriate to begin to reduce rates until we’re more confident that that is the case”

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
10 ATTACHMENT A
37 Treasury Yields Move Higher as Market Evolves to Revised Fed Expectations PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: Bloomberg, as of 3/31/2024.

For the Quarter Ended March 31, 2024
Market Updat
e

5.32%

5.02%

4.62%

4.41% 4.21% 4.21% 4.20% 4.34%

0.00%1.00%

2.00 %

3.00%

4.00%5.00%6.00%
Yield
Maturity
U.S. Treasury Yield Curve
1 Year RangeMarch 31, 2024December 31, 2023
3mo 2yr 5yr 7yr 10yr 20yr 30yr

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
11 ATTACHMENT A
38 Sector Yield Spreads
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of March 31, 2024. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.

CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index. -0.1%

0.1%0.3%0.5%0.7%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Federal Agency Yield Spreads
Bullet Callable

0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Corporate Notes A-AAA Yield Spreads

0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Mortgage-Backed Securities Yield Spreads
Agency MBS Agency CMBS Index

0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Asset-Backed Securities AAA Yield Spreads
For the Quarter Ended March 31, 2024
CITY OF STOCKTON Market Update
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
12 ATTACHMENT A
39 Fixed-Income Index Total Returns in 1Q 2024
1-5 Year Indices
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. As of March 31, 2024.

For the Quarter Ended March 31, 2024
Market Update
-0.02%

0.33%

1.01%

0.56%

0.83%
-0.5%

0.5%1.5%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
First Quarter 2024 Returns

2.42%

3.29%

4.92%

4.68%

5.93%

0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-Year Return

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
13 ATTACHMENT A
40 Factors to Consider for 6-12 Months
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
Monetary Policy:• Fed guidance implies a soft landing and 3 rate cuts for 2024. Market expectations have beenvolatile but recently converged to Fedprojections. • Globally, central banks are nearing the start of
cutting cycles with the Swiss central bankbeing the first to cut.

Economic Growth:• U.S. resiliency continues as expectations for a soft-landing command center stage. Strength isled by consumers supported by a robust labormarket. • Eurozone growth set to improve in 2024 H2.

Although Chinese growth targets seem
aspirational, emerging economies areexpected to grow.

Inflation: • Inflation continued to moderate but has proven to be stickier than expected, predominantly inhousing and other service sectors. • Further upside surprises in inflation indicators
may complicate the Fed’s path for monetarypolicy.

Financial Conditions:• Financial conditions continue to soften as the “Fed pivot” remains in play amid sustainedstrength in various economic indicators. • With interest rates elevated, we continue to
focus on identifying potential pockets of stresswithin financial markets.

Consumer Spending (U.S.): • Consumer confidence reached a multi-year high following strong wage growth, a resilientlabor market, and slowly moderating inflation. • Hiring and wage growth have played a role in
boosting personal income, which combinedwith record U.S. household net worth,supported spending.

Labor Markets:• The labor market remains strong, but a few indicators are moderating from the extremetightness of 2022. • No sign of weakness in typical economicallysensitive industries, like retail, leisure and hospitality, and construction.

Current outlook Outlook one quarter ago Negative Slightly Negative Neutral Slightly Positive Positive Statements and opinions expressed about the next 6-12 months were developed based on our independent research with information obtained from Bloomberg. The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution (3/31/2024) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its accuracy, completeness, or suitability.

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com |
14 ATTACHMENT A
41 © PFM Asset Management LLC pfmam.com |
Account Summary
15 ATTACHMENT A
42 © PFM Asset Management LLC | pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Account Summary
Consolidated Summary
Account Summary
Reserve Portfolio1 $752,025,506
Short-Term Portfolio $10,772,326
BMO Main Account $118,256,254
CAMP Pool $60,642,894
Local Agency Investment Fund $820,958
Total Program $942,517,937

21.0%

0.9% 0.0% 2.3%

4.2%

23.4%

7.8%

10.3%

17.4%

6.3% 6.4%

0.0% $0
$50
$100
$150
$200
$250
30 Days
and Under
31 to 60
days
61 to 90
days
91 to 180
days
181 to 1
year
1 to 2
years
2 to 3
years
3 to 4
years
4 to 5
years
5 to 7
years
7 to 10
years
Over 10
years
Millions
Maturity Distribution
(Weighted Average Maturity: 838 days)

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

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
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 March 31, 2024, the account(s) managed by PFM Asset Management ("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged : PFM Asset Management LLC
17 ATTACHMENT A
44 © PFM Asset Management LLC pfmam.com |
Portfolio Review:

CITY OF STOCKTON RESERVE PORTFOLIO
18 ATTACHMENT A
45 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
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% ICEBofA 1-5 Corp and Govt A or Better and 20% ICEBofA 5-10 Treasury. Prior to 3/31/23 it was the ICEBofA 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
5%
26%
17%
29%
9%
5% 3% 6% 4%
27%
22%
18%
12%
6% 5% 5%
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 | 49%
Agency CMBS | 18%
Corporate | 15%Federal Agency | 9%
ABS | 8%
Municipal | 1%Negotiable CD | 1%
Sector Allocation
AAA | 7%AA+ | 77%AA | 1%AA- | 1%A+ | 5%A | 4%A- | 2%
BBB+ | 1%Not Rated | 2%
Portfolio Statistics
Portfolio Effective Duration 3.19 yearsBenchmark Effective Duration 3.22 years Portfolio Credit Quality AA
Yield At Market 4.62%
Yield At Cost 3.34%
Total Market Value $433,899,524.33
Securities Sub-Total $431,054,756.75Cash $912,541.86
Accrued Interest $1,932,225.72
19 ATTACHMENT A
46 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
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 balancesinvested in overnight funds.

Issuer Diversification - CITY OF STOCKTON RESERVE PORTFOLIO Security Type / Issuer Market Value (%) S&P / Moody's / FitchU.S. Treasury 49.0% UNITED STATES TREASURY 49.0% AA / Aaa / AA
Federal Agency 8.5%
FANNIE MAE 5.6% AA / Aaa / AAFEDERAL FARM CREDIT BANKS 0.5% AA / Aaa / AAFEDERAL HOME LOAN BANKS 0.3% AA / Aaa / NRFREDDIE MAC 1.3% AA / Aaa / AAUNITED STATES TREASURY 0.9% AA / Aaa / AA Agency CMBS 17.7%
FANNIE MAE 1.0% AA / Aaa / AAFREDDIE MAC 16.8% AA / Aaa / AA Municipal 1.4%

CALIFORNIA DEPARTMENT OF WATERRESOURCES

0.0% AAA / Aa / NR
CALIFORNIA STATE UNIVERSITY 0.1% AA / Aa / NRFLORIDA STATE BOARD OF ADMIN FIN CORP 0.4% AA / Aa / AALOS ANGELES COMMUNITY COLLEGEDISTRICT

0.2% AA / Aaa / NR
NEW JERSEY TURNPIKE AUTHORITY 0.1% AA / A / ASAN DIEGO COMMUNITY COLLEGE DISTRICT 0.2% AAA / Aa / NRSTATE OF MARYLAND 0.1% AAA / Aaa / AAAUNIVERSITY OF CALIFORNIA 0.2% AA / Aa / AA Negotiable CD 1.0%
RABOBANK NEDERLAND 1.0% A / Aa / AA
Corporate 14.6%
AMAZON.COM INC 0.6% AA / A / AAAPPLE INC 1.4% AA / Aaa / NR Security Type / Issuer Market Value (%) S&P / Moody's / FitchCorporate 14.6% BANK OF AMERICA CO 0.9% A / Aa / AA
BLACKROCK INC 0.1% AA / Aa / NRCITIGROUP INC 1.5% A / A / ADEERE & COMPANY 0.5% A / A / AGOLDMAN SACHS GROUP INC 0.4% BBB / A / AHERSHEY COMPANY 0.6% A / A / NRHOME DEPOT INC 0.7% A / A / AHONEYWELL INTERNATIONAL 0.4% A / A / AINTEL CORPORATION 0.5% A / A / AJP MORGAN CHASE & CO 1.5% A / Aa / AAMICROSOFT CORP 1.0% AAA / Aaa / NR NOVARTIS AG 0.8% AA / Aa / AAPACCAR FINANCIAL CORP 0.9% A / A / NRSTATE STREET CORPORATION 0.9% A / A / AATARGET CORP 0.5% A / A / ATOYOTA MOTOR CORP 0.8% A / A / ATRUIST FIN CORP 0.5% A / A / A ABS 7.8%
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 / AAACHASE ISSURANCE 1.7% AAA / NR / AAACITIGROUP INC 0.2% AAA / Aaa / AAADISCOVER FINANCIAL SERVICES 0.2% AAA / Aaa / NR FIFTH THIRD AUTO TRUST 0.7% AAA / Aaa / NRGM FINANCIAL CONSUMER AUTOMOBILETRUST

0.1% NR / Aaa / AAA
20 ATTACHMENT A
47 © PFM Asset Management LLC pfmam.com

Issuer Diversification - CITY OF STOCKTON RESERVE PORTFOLIO Security Type / Issuer Market Value (%) S&P / Moody's / FitchABS 7.8% HONDA AUTO RECEIVABLES 0.7% AAA / Aaa / AAAHYUNDAI AUTO RECEIVABLES 0.4% AAA / NR / AAAKUBOTA CREDIT OWNER TRUST 0.3% NR / Aaa / AAA TOYOTA MOTOR CORP 0.5% AAA / Aaa / AAAUSAA AUTO OWNER TRUST 0.8% AAA / Aaa / NR Total 100.0%
21 ATTACHMENT A
48 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Characteristics
|
$0.0
$88.0
$176.0$264.0$352.0$440.0
Millions
March 2024
$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
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.

Security Type Jun-23 % of Total Sep-23 % of Total Dec-23 % of Total Mar-24 % of Total U.S. Treasury $249.9 60.0% $211.8 50.9% $213.6 49.6% $211.3 48.9%Federal Agency $73.5 17.7% $43.9 10.6% $37.4 8.7% $36.7 8.5% Agency CMBS $3.2 0.8% $41.5 10.0% $57.0 13.2% $76.5 17.8% Supranational $5.8 1.4% $5.8 1.4% $4.1 0.9% $0.0 0.0%Municipal $8.0 1.9% $8.0 1.9% $5.9 1.4% $6.0 1.4%Negotiable CD $2.8 0.7% $6.9 1.7% $6.9 1.6% $4.2 1.0%Corporate $69.0 16.6% $75.3 18.1% $75.9 17.6% $62.8 14.6% ABS $3.9 0.9% $22.6 5.4% $30.0 7.0% $33.6 7.8%
Total $416.1 100.0% $415.9 100.0% $431.0 100.0% $431.1 100.0% 22 ATTACHMENT A
49 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Portfolio Activity - CITY OF STOCKTON RESERVE PORTFOLIO Net Activity by Sector
($ millions)
CorporateSupranational
Negotiable CDFederal AgencyU.S. Treasury
ABS
Agency CMBS
Corporate
Supranational
Negotiable CD
Federal Agency
U.S. Treasury
ABS
Agency CMBS
($15… ($10… ($5.0) $0.0 $5.0 $10.0 $15.0 $20.0 $25.0
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 $20,247,419ABS $3,720,318
U.S. Treasury ($234,589)Federal Agency ($745,280)Negotiable CD ($2,862,960)Supranational ($4,084,918)Corporate ($12,979,254)Total Net Activity $3,060,736 Sales/Maturities Purchases
23 ATTACHMENT A
50 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Performance
|

1. 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. -1.0%-0.5%

0.0%0.5%1.0%1.5%2.0%2.5%3.0%
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 $3,015,150 $10,032,292 $22,888,366 $43,121,766 $56,048,246 Change in Market Value ($3,126,348) $1,293,925 ($34,198,667) ($20,250,628) ($19,486,379) Total Dollar Return ($111,198) $11,326,217 ($11,310,301) $22,871,138 $36,561,867 Total Return³
Portfolio -0.03% 2.73% -0.32% 1.22% 1.38%Benchmark⁴ -0.12% 2.24% -0.65% 1.00% 1.18%Basis Point Fee 0.01% 0.04% 0.05% 0.05% 0.05%Net of Fee Return -0.04% 2.69% -0.37% 1.17% 1.33% 3 Months 1 Year 3 Years 5 Years Since Inception

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% ICEBofA 1-5 Corp and Govt A or Better and 20% ICEBofA 5-10 Treasury. Prior to 3/31/23 it was the ICEBofA 1-5 year US Gov/Corp A-AAA). Source: Bloomberg. 24 ATTACHMENT A
51 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Performance
|

1. The lesser of 10 years or since inception is shown. Performance inception date is June 30, 2017.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Realized gains / (losses) are shown on an amortized cost basis.

Accrual Basis Earnings - CITY OF STOCKTON RESERVE PORTFOLIO Accrual Basis EarningsInterest Earned²Realized Gains / (Losses)³Change in Amortized CostTotal Earnings 3 Months
$3,015,150
($290,825)
$558,199
$3,282,524
1 Year
$10,032,292
($3,154,751)
$2,064,573
$8,942,113
3 Years
$22,888,366
($16,137,406)
$15,082,487$21,833,447
5 Year
$43,121,766
($9,485,301)
$14,610,031$48,246,497
Since Inception¹
$56,048,246
($11,733,222)
$16,470,256$60,785,280
25 ATTACHMENT A
52 © PFM Asset Management LLC pfmam.com |
Portfolio Review:

CITY OF STOCKTON SHORT-TERM PORTFOLIO
26 ATTACHMENT A
53 © PFM Asset Management LLC pfmam.com

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

1. Portfolio Snapshot - CITY OF STOCKTON SHORT-TERM PORTFOLIO¹ Credit Quality - S&P
100%
0%
20%40%60%80%
100%120%
0-1 Yr
Portfolio
Duration Distribution
Commercial Paper | 100%
Sector Allocation
A-1 | 100%
Portfolio Statistics
Portfolio Effective Duration 0.05 years
Yield At Cost 5.82%Yield At Market 6.42%
Portfolio Credit Quality ATotal Market Value $10,772,325.68 Securities Sub-Total $10,772,325.68Cash $0.00
Accrued Interest $0.00
27 ATTACHMENT A
54 © PFM Asset Management LLC pfmam.com

Issuer Diversification - CITY OF STOCKTON SHORT-TERM PORTFOLIO Security Type / Issuer Market Value (%) S&P / Moody's / FitchCommercial Paper 100.0% LMA AMERICAS LLC 100.0% A / Aa / AA
Total 100.0%
28 ATTACHMENT A
55 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Characteristics
|
$0.0$2.2$4.4$6.6$8.8
$11.0
Millions
March 2024
$0.0$2.2$4.4$6.6$8.8
$11.0
Millions
December 2023
$0.0$2.2$4.4$6.6$8.8
$11.0
Millions
September 2023
$0.0$2.2$4.4$6.6$8.8
$11.0
Millions
June 2023
Sector Allocation Review - CITY OF STOCKTON SHORT-TERM PORTFOLIO 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.

Security Type Jun-23 % of Total Sep-23 % of Total Dec-23 % of Total Mar-24 % of Total Commercial Paper $10.4 100.0% $10.5 100.0% $10.6 100.0% $10.8 100.0%Total $10.4 100.0% $10.5 100.0% $10.6 100.0% $10.8 100.0% 29 ATTACHMENT A
56 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Performance
|

1. The lesser of 10 years or since inception is shown. Performance inception date is February 1, 2022.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Realized gains / (losses) are shown on an amortized cost basis.

Accrual Basis Earnings - CITY OF STOCKTON SHORT-TERM PORTFOLIO Accrual Basis EarningsInterest Earned²Realized Gains / (Losses)³Change in Amortized CostTotal Earnings 3 Months-- $154,590
$154,590
1 Year
$147,679- $559,318$706,997
3 Years---- 5 Year---- Since Inception¹ $1,356,238- $1,953,898 $3,327,636 30 ATTACHMENT A
57 © PFM Asset Management LLC pfmam.com |
Reserve Portfolio Holdings and Transactions
31 ATTACHMENT A
58 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 03/31/2022 2.500% 03/31/2027
91282CEF4 5,350,000.00 AA+ Aaa 5/9/2023 5/10/2023 5,138,925.78 3.60 365.44 5,187,498.10 5,064,945.58 US TREASURY NOTESDTD 04/30/2020 0.500% 04/30/2027
912828ZN3 4,840,000.00 AA+ Aaa 8/2/2022 8/3/2022 4,331,989.06 2.88 10,171.98 4,510,130.39 4,298,525.00 US TREASURY NOTESDTD 06/30/2022 3.250% 06/30/2027
91282CEW7 4,300,000.00 AA+ Aaa 3/30/2023 3/31/2023 4,214,000.00 3.76 35,321.43 4,234,336.34 4,152,859.16 US TREASURY NOTESDTD 06/30/2020 0.500% 06/30/2027
912828ZV5 4,215,000.00 AA+ Aaa 8/25/2022 8/26/2022 3,705,577.73 3.21 5,326.65 3,873,753.31 3,723,030.26 US TREASURY NOTESDTD 07/31/2022 2.750% 07/31/2027
91282CFB2 5,000,000.00 AA+ Aaa 5/12/2023 5/12/2023 4,857,226.56 3.48 23,042.58 4,887,337.77 4,748,437.50 US TREASURY NOTESDTD 08/15/2017 2.250% 08/15/2027
9128282R0 2,730,000.00 AA+ Aaa 9/1/2022 9/6/2022 2,588,274.61 3.40 7,762.50 2,633,290.49 2,548,711.07 US TREASURY NOTESDTD 08/31/2022 3.125% 08/31/2027
91282CFH9 5,030,000.00 AA+ Aaa 3/24/2023 3/24/2023 4,971,644.14 3.41 13,668.48 4,985,108.11 4,831,943.75 US TREASURY NOTESDTD 09/30/2020 0.375% 09/30/2027
91282CAL5 2,400,000.00 AA+ Aaa 10/28/2022 10/31/2022 1,998,843.75 4.17 24.59 2,114,609.17 2,092,500.00 US TREASURY NOTESDTD 10/31/2022 4.125% 10/31/2027
91282CFU0 4,250,000.00 AA+ Aaa 3/30/2023 3/31/2023 4,320,224.61 3.73 73,689.05 4,304,838.08 4,216,132.60 US TREASURY NOTESDTD 10/31/2020 0.500% 10/31/2027
91282CAU5 5,340,000.00 AA+ Aaa 1/4/2023 1/6/2023 4,547,552.34 3.91 11,222.80 4,750,732.50 4,664,156.25 US TREASURY NOTESDTD 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 31,036.09 1,812,125.24 1,775,735.85 US TREASURY NOTESDTD 12/31/2022 3.875% 12/31/2027
91282CGC9 2,945,000.00 AA+ Aaa 2/1/2023 2/2/2023 2,981,582.42 3.60 28,843.20 2,972,931.59 2,898,064.06 US TREASURY NOTESDTD 01/31/2021 0.750% 01/31/2028
91282CBJ9 4,500,000.00 AA+ Aaa 5/12/2023 5/12/2023 3,976,347.66 3.44 5,655.91 4,075,006.80 3,936,797.10 US TREASURY NOTESDTD 01/31/2021 0.750% 01/31/2028
91282CBJ9 540,000.00 AA+ Aaa 3/14/2022 3/15/2022 498,382.03 2.15 678.71 512,874.69 472,415.65 US TREASURY NOTESDTD 02/28/2023 4.000% 02/29/2028
91282CGP0 4,825,000.00 AA+ Aaa 3/24/2023 3/24/2023 4,967,299.80 3.35 16,782.61 4,937,782.26 4,769,210.94 32 ATTACHMENT A
59 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 03/31/2023 3.625% 03/31/2028
91282CGT2 4,260,000.00 AA+ Aaa 3/30/2023 3/31/2023 4,253,510.16 3.66 421.93 4,254,813.81 4,152,834.59 US TREASURY NOTESDTD 03/31/2021 1.250% 03/31/2028
91282CBS9 5,735,000.00 AA+ Aaa 5/9/2023 5/10/2023 5,152,315.04 3.53 195.87 5,258,939.54 5,095,189.06 US TREASURY NOTESDTD 03/31/2021 1.250% 03/31/2028
91282CBS9 1,985,000.00 AA+ Aaa 5/8/2023 5/10/2023 1,786,655.08 3.49 67.79 1,822,949.87 1,763,548.44 US TREASURY NOTESDTD 04/30/2023 3.500% 04/30/2028
91282CHA2 2,050,000.00 AA+ Aaa 5/1/2023 5/1/2023 2,040,230.47 3.61 30,158.65 2,042,028.15 1,988,500.00 US TREASURY NOTESDTD 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 7,684.31 675,760.92 667,106.25 US TREASURY NOTESDTD 09/30/2021 1.250% 09/30/2028
91282CCY5 525,000.00 AA+ Aaa 3/14/2022 3/15/2022 495,591.79 2.17 17.93 504,791.85 460,687.50 US TREASURY NOTESDTD 11/15/1998 5.250% 11/15/2028
912810FF0 1,000,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,064,765.63 4.02 19,903.85 1,050,247.66 1,038,750.00 US TREASURY NOTESDTD 02/15/2019 2.625% 02/15/2029
9128286B1 500,000.00 AA+ Aaa 3/21/2022 3/22/2022 509,433.59 2.33 1,658.65 506,661.87 464,531.25 US TREASURY NOTESDTD 02/15/2019 2.625% 02/15/2029
9128286B1 2,165,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,991,630.86 4.15 7,181.98 2,023,297.18 2,011,420.31 US TREASURY NOTESDTD 02/16/1999 5.250% 02/15/2029
912810FG8 1,875,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,027,856.45 3.74 12,439.90 1,997,243.98 1,952,343.75 US TREASURY NOTESDTD 05/31/2022 2.750% 05/31/2029
91282CES6 2,675,000.00 AA+ Aaa 1/11/2023 1/12/2023 2,535,920.90 3.67 24,721.83 2,562,471.82 2,491,511.59 US TREASURY NOTESDTD 05/31/2022 2.750% 05/31/2029
91282CES6 1,145,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,067,578.32 3.94 10,581.87 1,083,493.14 1,066,460.10 US TREASURY NOTESDTD 05/31/2022 2.750% 05/31/2029
91282CES6 670,000.00 AA+ Aaa 8/5/2022 8/9/2022 662,698.05 2.93 6,192.01 664,462.61 624,042.15 US TREASURY NOTESDTD 06/30/2022 3.250% 06/30/2029
91282CEV9 3,450,000.00 AA+ Aaa 7/7/2023 7/10/2023 3,267,123.05 4.26 28,339.29 3,289,416.94 3,290,437.50 US TREASURY NOTESDTD 08/15/2019 1.625% 08/15/2029
912828YB0 520,000.00 AA+ Aaa 3/21/2022 3/22/2022 496,518.75 2.29 1,067.86 502,955.90 456,300.00 US TREASURY NOTESDTD 08/15/1999 6.125% 08/15/2029
912810FJ2 1,775,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,023,083.98 3.72 13,739.18 1,977,134.87 1,929,757.81 US TREASURY NOTESDTD 11/30/2022 3.875% 11/30/2029
91282CFY2 1,070,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,069,289.45 3.89 13,934.12 1,069,425.06 1,050,606.25 33 ATTACHMENT A
60 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 12/31/2022 3.875% 12/31/2029
91282CGB1 2,030,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,059,339.84 3.64 19,881.73 2,054,200.18 1,993,206.25 US TREASURY NOTESDTD 02/15/2020 1.500% 02/15/2030
912828Z94 542,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,040.43 2.66 1,028.37 509,221.23 466,210.94 US TREASURY NOTESDTD 02/28/2023 4.000% 02/28/2030
91282CGQ8 2,010,000.00 AA+ Aaa 2/27/2023 2/28/2023 2,000,892.19 4.08 6,991.30 2,002,309.83 1,986,131.25 US TREASURY NOTESDTD 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 6,006.70 2,137,024.95 2,047,012.50 US TREASURY NOTESDTD 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 51,181.32 2,460,106.61 2,386,125.00 US TREASURY NOTESDTD 11/15/1999 6.250% 05/15/2030
912810FM5 925,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,065,123.05 3.89 21,917.92 1,040,011.02 1,021,835.94 US TREASURY NOTESDTD 05/31/2023 3.750% 05/31/2030
91282CHF1 2,830,000.00 AA+ Aaa 7/12/2023 7/12/2023 2,783,459.77 4.03 35,664.96 2,788,345.11 2,755,712.50 US TREASURY NOTESDTD 08/15/2020 0.625% 08/15/2030
91282CAE1 2,540,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,995,586.72 3.97 2,006.18 2,075,101.03 2,033,587.50 US TREASURY NOTESDTD 08/15/2020 0.625% 08/15/2030
91282CAE1 2,545,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,052,204.49 3.56 2,010.13 2,131,464.06 2,037,590.62 US TREASURY NOTESDTD 08/15/2020 0.625% 08/15/2030
91282CAE1 587,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,755.37 2.65 464.03 519,747.78 470,367.19 US TREASURY NOTESDTD 11/15/2020 0.875% 11/15/2030
91282CAV3 1,330,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,071,065.63 3.72 4,412.02 1,114,533.11 1,076,468.75 US TREASURY NOTESDTD 11/15/2020 0.875% 11/15/2030
91282CAV3 3,000,000.00 AA+ Aaa 7/11/2023 7/12/2023 2,405,390.63 4.02 9,951.92 2,463,898.60 2,428,125.00 US TREASURY NOTESDTD 02/15/2001 5.375% 02/15/2031
912810FP8 1,800,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,021,273.44 3.61 12,226.65 1,987,899.09 1,928,250.00 US TREASURY NOTESDTD 02/15/2001 5.375% 02/15/2031
912810FP8 1,820,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,991,620.31 3.98 12,362.50 1,968,139.77 1,949,675.00 US TREASURY NOTESDTD 02/15/2001 5.375% 02/15/2031
912810FP8 2,955,000.00 AA+ Aaa 7/7/2023 7/10/2023 3,201,326.95 4.09 20,072.08 3,177,732.07 3,165,543.75 US TREASURY NOTESDTD 02/15/2021 1.125% 02/15/2031
91282CBL4 565,000.00 AA+ Aaa 4/6/2022 4/11/2022 498,104.88 2.63 803.26 513,027.96 463,300.00 US TREASURY NOTESDTD 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 18,050.90 2,589,031.18 2,469,440.63 34 ATTACHMENT A
61 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 05/15/2021 1.625% 05/15/2031
91282CCB5 1,265,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,070,802.73 3.76 7,793.30 1,101,491.94 1,066,157.81 US TREASURY NOTESDTD 08/15/2021 1.250% 08/15/2031
91282CCS8 562,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,515.62 2.63 888.56 512,032.39 458,085.94 US TREASURY NOTESDTD 08/15/2021 1.250% 08/15/2031
91282CCS8 2,465,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,994,627.93 3.92 3,893.89 2,055,213.07 2,007,434.37 US TREASURY NOTESDTD 11/15/2021 1.375% 11/15/2031
91282CDJ7 1,305,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,068,927.54 3.77 6,802.85 1,104,136.39 1,066,021.88 US TREASURY NOTESDTD 11/15/2021 1.375% 11/15/2031
91282CDJ7 2,080,000.00 AA+ Aaa 1/10/2023 1/11/2023 1,739,075.00 3.55 10,842.86 1,786,150.09 1,699,100.00 US TREASURY NOTESDTD 02/15/2022 1.875% 02/15/2032
91282CDY4 2,365,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,999,625.98 3.94 5,603.88 2,044,042.25 1,996,946.88 US TREASURY NOTESDTD 05/15/2022 2.875% 05/15/2032
91282CEP2 2,175,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,056,224.61 3.57 23,706.90 2,071,750.35 1,975,171.88 US TREASURY NOTESDTD 05/15/2022 2.875% 05/15/2032
91282CEP2 1,150,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,067,164.06 3.79 12,534.68 1,078,867.57 1,044,343.75 US TREASURY NOTESDTD 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 29,102.27 2,544,393.97 2,424,693.75 US TREASURY NOTESDTD 05/15/2022 2.875% 05/15/2032
91282CEP2 660,000.00 AA+ Aaa 8/5/2022 8/9/2022 662,629.69 2.83 7,193.82 662,186.62 599,362.50 US TREASURY NOTESDTD 11/15/2022 4.125% 11/15/2032
91282CFV8 1,965,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,054,269.34 3.57 30,730.12 2,043,197.56 1,951,797.55 US TREASURY NOTESDTD 11/15/2022 4.125% 11/15/2032
91282CFV8 1,055,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,084,877.93 3.78 16,498.87 1,080,870.12 1,047,911.67 US TREASURY NOTESDTD 11/15/2022 4.125% 11/15/2032
91282CFV8 3,225,000.00 AA+ Aaa 7/7/2023 7/10/2023 3,242,006.84 4.06 50,434.93 3,240,682.54 3,203,331.87 US TREASURY NOTESDTD 02/15/2023 3.500% 02/15/2033
91282CGM7 2,065,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,993,450.98 3.92 9,133.65 2,001,274.20 1,955,942.19 US TREASURY NOTESDTD 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 11,679.29 2,243,993.75 2,322,393.75 US TREASURY NOTESDTD 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 63.05 7,500.55 7,478.91 US TREASURY NOTESDTD 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 12.23 7,550.04 7,394.53 35 ATTACHMENT A
62 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 09/15/2021 0.375% 09/15/2024
91282CCX7 7,500.00 AA+ Aaa 10/4/2021 10/6/2021 7,472.75 0.50 1.30 7,495.77 7,337.11 US TREASURY NOTESDTD 11/30/2017 2.125% 11/30/2024
9128283J7 7,500.00 AA+ Aaa 1/3/2020 1/7/2020 7,673.73 1.63 53.56 7,523.60 7,348.83 US TREASURY NOTESDTD 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 12.23 12,558.83 12,060.55 US TREASURY NOTESDTD 04/30/2020 0.375% 04/30/2025
912828ZL7 932,500.00 AA+ Aaa 4/5/2021 4/7/2021 920,333.79 0.70 1,469.84 929,269.89 887,477.78 US TREASURY NOTESDTD 06/30/2020 0.250% 06/30/2025
912828ZW3 1,597,500.00 AA+ Aaa 10/4/2021 10/6/2021 1,571,103.81 0.70 1,009.41 1,588,688.36 1,507,890.15 US TREASURY NOTESDTD 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 0.63 592.39 2,710,419.45 2,554,687.50 US TREASURY NOTESDTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 6,095,000.00 AA+ Aaa 8/19/2021 8/20/2021 6,004,527.34 0.62 1,325.00 6,063,223.94 5,714,062.50 US TREASURY NOTESDTD 10/31/2020 0.250% 10/31/2025
91282CAT8 3,500,000.00 AA+ Aaa 10/4/2021 10/6/2021 3,425,898.44 0.78 3,677.88 3,471,177.19 3,259,375.00 US TREASURY NOTESDTD 11/30/2020 0.375% 11/30/2025
91282CAZ4 6,772,500.00 AA+ Aaa 11/1/2021 11/2/2021 6,589,430.86 1.05 8,535.02 6,697,747.79 6,299,482.86 US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/2025
91282CBC4 700,000.00 AA+ Aaa 1/11/2021 1/13/2021 695,980.47 0.49 663.46 698,583.30 649,250.00 US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/2025
91282CBC4 5,700,000.00 AA+ Aaa 5/6/2021 5/10/2021 5,606,707.03 0.73 5,402.47 5,664,850.11 5,286,750.00 US TREASURY NOTESDTD 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 0.80 750.98 1,185,780.41 1,104,814.78 US TREASURY NOTESDTD 01/31/2019 2.625% 01/31/2026
9128286A3 1,707,500.00 AA+ Aaa 2/4/2021 2/4/2021 1,890,055.76 0.46 7,511.36 1,774,630.82 1,645,603.13 US TREASURY NOTESDTD 01/31/2021 0.375% 01/31/2026
91282CBH3 7,635,000.00 AA+ Aaa 2/18/2022 2/22/2022 7,215,969.73 1.83 4,798.09 7,439,899.04 7,058,795.72 US TREASURY NOTESDTD 01/31/2021 0.375% 01/31/2026
91282CBH3 8,475,000.00 AA+ Aaa 1/4/2022 1/6/2022 8,174,402.34 1.27 5,325.98 8,339,468.08 7,835,401.92 US TREASURY NOTESDTD 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 1.15 860.87 1,955,874.16 1,829,953.22 US TREASURY NOTESDTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 10,690,000.00 AA+ Aaa 2/2/2022 2/3/2022 10,249,872.66 1.55 4,647.83 10,483,264.55 9,879,898.98 36 ATTACHMENT A
63 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 05/31/2021 0.750% 05/31/2026
91282CCF6 4,360,000.00 AA+ Aaa 6/6/2022 6/8/2022 3,995,871.88 2.99 10,989.34 4,162,022.56 4,016,650.00 US TREASURY NOTESDTD 05/31/2021 0.750% 05/31/2026
91282CCF6 805,000.00 AA+ Aaa 6/7/2021 6/7/2021 803,176.17 0.80 2,029.00 804,207.90 741,606.25 US TREASURY NOTESDTD 05/31/2021 0.750% 05/31/2026
91282CCF6 3,155,000.00 AA+ Aaa 10/4/2021 10/6/2021 3,133,186.13 0.90 7,952.15 3,144,851.03 2,906,543.75 US TREASURY NOTESDTD 09/30/2021 0.875% 09/30/2026
91282CCZ2 3,700,000.00 AA+ Aaa 4/5/2022 4/7/2022 3,406,746.09 2.77 88.46 3,536,623.36 3,385,500.00 US TREASURY NOTESDTD 11/15/2016 2.000% 11/15/2026
912828U24 2,540,000.00 AA+ Aaa 8/8/2022 8/9/2022 2,437,606.25 3.01 19,259.34 2,477,079.40 2,384,425.00 US TREASURY NOTESDTD 02/15/2017 2.250% 02/15/2027
912828V98 1,390,000.00 AA+ Aaa 5/12/2023 5/12/2023 1,328,047.27 3.52 3,952.34 1,342,690.64 1,308,337.50 US TREASURY NOTESDTD 02/15/2017 2.250% 02/15/2027
912828V98 855,000.00 AA+ Aaa 8/8/2022 8/9/2022 828,515.04 2.99 2,431.11 838,156.14 804,768.75 Security Type Sub-Total 227,210,000.00 216,676,201.47 2.91 987,185.57 219,531,663.31 211,297,664.65 Negotiable CD
COOPERAT RABOBANK UA/NY CERTDEPOSDTD 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 43,857.33 4,200,000.00 4,174,161.60 Security Type Sub-Total 4,200,000.00 4,200,000.00 5.08 43,857.33 4,200,000.00 4,174,161.60 Municipal
SAN DIEGO CCD, CA TXBL GO BONDSDTD 10/16/2019 2.046% 08/01/2024 797272QP9 725,000.00 AAA Aa1 9/18/2019 10/16/2019 725,000.00 2.05 2,472.25 725,000.00 716,872.75 MD ST TXBL GO BONDSDTD 08/05/2020 0.510% 08/01/2024
574193TQ1 647,500.00 AAA Aaa 7/23/2020 8/5/2020 647,318.70 0.52 550.38 647,484.82 637,036.40 CA ST UNIV TXBL REV BONDSDTD 09/17/2020 0.685% 11/01/2024 13077DNC2 625,000.00 AA- Aa2 8/27/2020 9/17/2020 625,000.00 0.69 1,783.85 625,000.00 609,487.50 CA ST DEPT WTR RES WTR SYS TXBLREV BNDSDTD 08/06/2020 0.560% 12/01/2024 13067WRB0 77,500.00 AAA Aa1 7/30/2020 8/6/2020 77,500.00 0.56 144.67 77,500.00 75,271.10 37 ATTACHMENT A
64 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Municipal
UNIV OF CAL TXBL REV BONDSDTD 07/16/2020 0.883% 05/15/2025 91412HGE7 460,000.00 AA Aa2 7/14/2020 7/16/2020 461,665.20 0.81 1,534.46 460,363.96 439,010.20 UNIV OF CAL TXBL REV BONDSDTD 07/16/2020 0.883% 05/15/2025 91412HGE7 300,000.00 AA Aa2 7/10/2020 7/16/2020 300,000.00 0.88 1,000.73 300,000.00 286,311.00 FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025 341271AD6 1,050,000.00 AA Aa3 9/3/2020 9/16/2020 1,057,423.50 1.11 3,302.25 1,051,935.46 1,001,112.00 FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025 341271AD6 825,000.00 AA Aa3 9/3/2020 9/16/2020 825,000.00 1.26 2,594.63 825,000.00 786,588.00 LOS ANGELES CCD, CA TXBL GOBONDSDTD 11/10/2020 0.773% 08/01/2025 54438CYK2 965,000.00 AA+ Aaa 10/30/2020 11/10/2020 965,000.00 0.77 1,243.24 965,000.00 912,976.85 NJ TURNPIKE AUTHORITY TXBL REVBONDSDTD 02/04/2021 1.047% 01/01/2026 646140DP5 557,500.00 AA- A1 1/22/2021 2/4/2021 557,500.00 1.05 1,459.26 557,500.00 523,035.35 Security Type Sub-Total 6,232,500.00 6,241,407.40 1.04 16,085.72 6,234,784.24 5,987,701.15 Federal Agency
FEDERAL HOME LOAN BANK NOTESDTD 04/16/2020 0.500% 04/14/2025 3130AJHU6 335,000.00 AA+ Aaa 4/15/2020 4/16/2020 333,338.40 0.60 777.01 334,655.66 319,693.85 FANNIE MAE NOTESDTD 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 18,329.17 6,649,151.66 6,338,723.28 FANNIE MAE NOTESDTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 1,490,000.00 AA+ Aaa 9/17/2020 9/18/2020 1,495,304.40 0.42 2,152.22 1,491,352.88 1,411,427.83 FANNIE MAE NOTESDTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 4,150,000.00 AA+ Aaa 10/2/2020 10/5/2020 4,167,720.50 0.41 5,994.44 4,154,564.37 3,931,158.05 FANNIE MAE NOTESDTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 1,002,500.00 AA+ Aaa 6/17/2020 6/19/2020 1,000,424.83 0.54 1,448.06 1,001,997.14 949,635.17 FREDDIE MAC NOTESDTD 07/23/2020 0.375% 07/21/2025
3137EAEU9 2,310,000.00 AA+ Aaa 7/21/2020 7/23/2020 2,298,496.20 0.48 1,684.38 2,306,997.91 2,177,332.08 FANNIE MAE NOTESDTD 08/27/2020 0.375% 08/25/2025
3135G05X7 3,075,000.00 AA+ Aaa 10/22/2020 10/23/2020 3,057,780.00 0.49 1,153.13 3,070,020.14 2,886,453.30 38 ATTACHMENT A
65 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Federal Agency
FANNIE MAE NOTESDTD 08/27/2020 0.375% 08/25/2025
3135G05X7 920,000.00 AA+ Aaa 8/25/2020 8/27/2020 915,694.40 0.47 345.00 918,793.77 863,589.28 FREDDIE MAC NOTESDTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 3,545,000.00 AA+ Aaa 9/23/2020 9/25/2020 3,534,329.55 0.44 295.42 3,541,840.99 3,319,821.60 FEDERAL FARM CREDIT BANK(CALLABLE)DTD 09/29/2020 0.530% 09/29/2025 3133EMBH4 2,265,000.00 AA+ Aaa 10/7/2020 10/9/2020 2,261,036.25 0.57 66.69 2,263,808.26 2,123,052.45 FANNIE MAE NOTESDTD 11/12/2020 0.500% 11/07/2025
3135G06G3 1,955,000.00 AA+ Aaa 11/19/2020 11/24/2020 1,954,257.10 0.51 3,910.00 1,954,759.76 1,825,217.33 FANNIE MAE NOTESDTD 11/12/2020 0.500% 11/07/2025
3135G06G3 6,190,000.00 AA+ Aaa 12/3/2020 12/4/2020 6,188,885.80 0.50 12,380.00 6,189,637.68 5,779,076.85 US TREASURY NOTESDTD 08/31/2022 3.125% 08/31/2029
91282CFJ5 2,120,000.00 AA+ Aaa 2/27/2023 2/28/2023 2,000,998.44 4.12 5,760.87 2,020,932.20 2,006,712.50 US TREASURY NOTESDTD 08/15/2022 2.750% 08/15/2032
91282CFF3 2,195,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,991,190.82 3.93 7,628.23 2,014,661.90 1,968,983.48 FEDERAL HOME LOAN BANK NOTESDTD 08/25/2022 3.375% 09/10/2032 3130AT4C8 875,000.00 AA+ Aaa 11/1/2022 11/3/2022 779,616.25 4.77 1,722.66 793,265.22 810,191.38 Security Type Sub-Total 39,067,500.00 38,661,369.74 0.96 63,647.28 38,706,439.54 36,711,068.43 Corporate
AMAZON.COM INC CORPORATE
NOTESDTD 05/12/2021 0.450% 05/12/2024
023135BW5 2,500.00 AA A1 5/10/2021 5/12/2021 2,496.35 0.50 4.34 2,499.86 2,485.33 JOHN DEERE CAPITAL CORPCORPORATE NOTESDTD 01/10/2022 1.250% 01/10/2025 24422EVY2 212,500.00 A A1 3/8/2022 3/10/2022 207,142.87 2.17 597.66 211,032.86 205,966.05 MICROSOFT CORP (CALLABLE)NOTESDTD 02/12/2015 2.700% 02/12/2025 594918BB9 2,295,000.00 AAA Aaa 3/4/2021 3/8/2021 2,457,049.95 0.87 8,434.13 2,322,108.73 2,246,263.38 TOYOTA MOTOR CREDIT CORP CORPNOTESDTD 02/13/2020 1.800% 02/13/2025 89236TGT6 1,595,000.00 A+ A1 5/21/2020 5/26/2020 1,616,692.00 1.50 3,828.00 1,599,001.19 1,547,896.46 39 ATTACHMENT A
66 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
TOYOTA MOTOR CREDIT CORP CORPNOTESDTD 02/13/2020 1.800% 02/13/2025 89236TGT6 292,500.00 A+ A1 5/20/2020 5/26/2020 295,357.73 1.58 702.00 293,027.12 283,861.89 NOVARTIS CAPITAL CORPDTD 02/14/2020 1.750% 02/14/2025
66989HAP3 3,680,000.00 AA- Aa3 5/8/2020 5/12/2020 3,809,756.80 0.99 8,407.78 3,701,879.37 3,574,674.72 AMAZON.COM INC CORPORATE
NOTESDTD 04/13/2022 3.000% 04/13/2025
023135CE4 2,567,500.00 AA A1 4/11/2022 4/13/2022 2,563,417.67 3.06 35,945.00 2,566,095.77 2,510,753.12 CITIGROUP INC (CALLABLE)CORPORATE NOTESDTD 05/04/2021 0.981% 05/01/2025 172967MX6 1,355,000.00 BBB+ A3 4/28/2021 5/4/2021 1,358,590.75 0.91 5,538.56 1,355,098.56 1,348,002.78 GOLDMAN SACHS GROUP INCCORPORATE NOTESDTD 05/22/2015 3.750% 05/22/2025 38148LAE6 1,817,500.00 BBB+ A2 2/12/2021 2/17/2021 2,030,474.65 0.94 24,422.66 1,865,005.26 1,778,898.12 HONEYWELL INTL CORP NOTES(CALLABLE)DTD 05/18/2020 1.350% 06/01/2025 438516CB0 2,000,000.00 A A2 9/3/2021 9/8/2021 2,039,160.00 0.82 9,000.00 2,011,621.49 1,915,664.00 JPMORGAN CHASE & CO CORPNOTES (CALLABLEDTD 08/10/2021 0.768% 08/09/2025 46647PCM6 1,680,000.00 A- A1 8/3/2021 8/10/2021 1,680,000.00 0.77 1,863.68 1,680,000.00 1,648,083.36 STATE STREET CORP (CALLABLE)CORPORATE NDTD 02/07/2022 1.746% 02/06/2026 857477BR3 437,500.00 A A1 2/2/2022 2/7/2022 437,500.00 1.75 1,167.03 437,500.00 422,298.63 STATE STREET CORP NOTES(CALLABLE)DTD 10/29/2020 2.901% 03/30/2026 857477BM4 3,750,000.00 A A1 8/8/2022 8/10/2022 3,639,037.50 3.78 302.19 3,689,171.16 3,650,681.25 BANK OF AMERICA CORP NOTES(CALLABLE)DTD 03/22/2022 3.384% 04/02/2026 06051GKM0 1,875,000.00 A- A1 3/17/2022 3/22/2022 1,875,000.00 3.38 31,548.75 1,875,000.00 1,834,831.88 PACCAR FINANCIAL CORPCORPORATE NOTESDTD 08/10/2023 5.050% 08/10/2026 69371RS56 3,800,000.00 A+ A1 8/10/2023 8/14/2023 3,815,846.00 4.90 27,185.83 3,812,493.96 3,808,698.20 BANK OF AMERICA NA CORPORATENOTESDTD 08/18/2023 5.526% 08/18/2026 06428CAA2 1,885,000.00 A+ Aa1 8/14/2023 8/18/2023 1,885,000.00 5.53 12,441.94 1,885,000.00 1,902,898.08 40 ATTACHMENT A
67 © PFM Asset Management LLC pfmam.com

APPLE INC CORP NOTES CALLABLE
DTD 05/10/2023 4.000% 05/10/2028
037833ET3 1,370,000.00 AA+ Aaa 5/12/2023 5/16/2023 1,380,946.30 3.82 21,463.33 1,378,984.40 1,348,185.49

APPLE INC CORP NOTES CALLABLE
DTD 05/10/2023 4.000% 05/10/2028
037833ET3 4,675,000.00 AA+ Aaa 5/9/2023 5/11/2023 4,673,083.25 4.01 73,241.67 4,673,425.45 4,600,559.98 JOHN DEERE CAPITAL CORPCORPORATE NOTESDTD 07/14/2023 4.950% 07/14/2028 24422EXB0 600,000.00 A A1 7/13/2023 7/14/2023 608,160.00 4.64 6,352.50 606,989.82 603,588.60 JOHN DEERE CAPITAL CORPCORPORATE NOTESDTD 07/14/2023 4.950% 07/14/2028 24422EXB0 1,420,000.00 A A1 7/11/2023 7/14/2023 1,417,884.20 4.98 15,034.25 1,418,187.62 1,428,493.02 TOYOTA MOTOR CREDIT CORPCORPORATE NOTESDTD 09/11/2023 5.250% 09/11/2028 89236TLB9 1,400,000.00 A+ A1 9/6/2023 9/11/2023 1,397,564.00 5.29 4,083.33 1,397,805.00 1,421,841.40 41 ATTACHMENT A
68 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
CITIBANK NA CORP NOTES(CALLABLE)DTD 09/29/2023 5.803% 09/29/2028 17325FBB3 4,935,000.00 A+ Aa3 9/26/2023 9/29/2023 4,935,000.00 5.80 1,590.99 4,935,000.00 5,106,757.74 BLACKROCK FUNDING INCCORPORATE NOTES (CDTD 03/14/2024 4.700% 03/14/2029 09290DAA9 405,000.00 AA- Aa3 3/5/2024 3/14/2024 404,266.95 4.74 898.88 404,273.32 405,226.40 Security Type Sub-Total 64,190,000.00 63,981,732.07 3.54 440,062.19 63,757,088.30 62,790,737.36 Agency CMBS
FHMS K061 A2DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 2,843,880.09 AA+ Aaa 5/19/2023 5/24/2023 2,756,341.90 4.31 7,932.06 2,778,139.40 2,745,976.56 FHMS K064 A2DTD 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 4,268,339.89 4,299,439.15 FHLMC MULTIFAMILY STRUCTURED PDTD 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 2,419,767.82 2,437,117.73 FHLMC MULTIFAMILY STRUCTURED PDTD 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 3,727,398.23 3,763,151.31 FHMS K507 A1DTD 09/01/2023 4.800% 04/01/2028
3137HAMR4 4,006,761.74 AA+ Aaa 9/20/2023 9/28/2023 3,943,883.63 5.19 16,027.05 3,950,261.36 3,993,046.79 FHMS K506 A1DTD 09/01/2023 4.650% 05/01/2028
3137HAMG8 2,089,531.88 AA+ Aaa 9/7/2023 9/14/2023 2,058,282.93 5.01 8,096.94 2,061,609.95 2,080,715.31 FHMS KJ46 A1DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 3,404,722.14 AA+ Aaa 7/19/2023 7/27/2023 3,404,637.00 4.78 13,553.63 3,404,648.97 3,385,834.72 FHMS K505 A2DTD 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 4,235,909.61 4,212,225.15 FNA 2023-M6 A2DTD 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 4,187,772.50 4,165,755.91 FHMS K508 A2DTD 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 4,213,600.26 4,300,482.76 FHMS KJ47 A1DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 2,361,432.47 AA+ Aaa 9/19/2023 9/28/2023 2,361,420.66 5.27 10,374.56 2,361,421.77 2,390,575.62 FHMS K506 A2DTD 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 4,144,107.72 4,187,066.27 42 ATTACHMENT A
69 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Agency CMBS
FHMS K509 A2DTD 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 3,207,678.42 3,320,997.49 FHMS K507 A2DTD 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 4,154,418.95 4,212,598.49 FHMS K511 A2DTD 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 2,433,402.18 2,453,821.53 FHMS K510 A2DTD 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 1,670,477.30 1,697,949.16 FHMS K512 A2DTD 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 2,234,620.19 2,240,271.51 FHMS K514 A2DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 2,495,000.00 AA+ Aaa 2/1/2024 2/8/2024 2,519,947.51 4.34 9,505.95 2,519,262.21 2,481,381.74 FHMS K513 A2DTD 01/01/2024 4.724% 12/01/2028
3137HBFY5 2,505,000.00 AA+ Aaa 1/10/2024 1/18/2024 2,530,022.45 4.50 9,861.35 2,529,079.14 2,507,418.83 FHMS K517 A2DTD 03/01/2024 5.355% 01/01/2029
3137HC2C5 3,760,000.00 AA+ Aaa 3/5/2024 3/14/2024 3,872,747.36 4.66 16,779.00 3,871,731.33 3,863,246.25 FHMS K515 A2DTD 02/01/2024 5.400% 01/01/2029
3137HBPD0 4,200,000.00 AA+ Aaa 2/14/2024 2/22/2024 4,313,148.00 4.78 18,900.00 4,310,940.94 4,318,269.98 FHMS K516 A2DTD 03/01/2024 5.477% 01/01/2029
3137HBPM0 4,200,000.00 AA+ Aaa 2/29/2024 3/7/2024 4,325,987.40 4.78 19,169.50 4,324,421.43 4,333,830.44 FHMS K518 A2DTD 03/01/2024 5.400% 01/01/2029
3137HC2L5 3,040,000.00 AA+ Aaa 3/19/2024 3/28/2024 3,113,400.80 4.83 13,680.00 3,113,253.28 3,138,332.27 Security Type Sub-Total 76,650,637.32 75,956,111.59 4.89 294,323.25 76,122,262.85 76,529,504.97 ABS
HAROT 2021-1 A3DTD 02/24/2021 0.270% 04/21/2025
43813GAC5 47,142.98 NR Aaa 2/17/2021 2/24/2021 47,142.11 0.27 3.54 47,142.76 46,874.19 HART 2021-A A3DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 90,275.07 AAA NR 4/20/2021 4/28/2021 90,265.58 0.38 15.25 90,271.92 89,522.14 CARMX 2021-1 A3DTD 01/27/2021 0.340% 12/15/2025
14316NAC3 74,013.36 AAA NR 1/20/2021 1/27/2021 73,998.73 0.34 11.18 74,008.25 73,036.39 TAOT 2021-C A3DTD 09/27/2021 0.430% 01/15/2026
89239BAC5 445,344.26 AAA Aaa 9/21/2021 9/27/2021 445,308.76 0.43 85.11 445,329.48 434,805.37 43 ATTACHMENT A
70 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
CARMX 2021-2 A3DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 243,385.10 AAA NR 4/13/2021 4/21/2021 243,332.65 0.52 56.25 243,364.66 239,401.69 HART 2021-C A3DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 263,438.25 AAA NR 11/9/2021 11/17/2021 263,379.45 0.75 86.64 263,410.50 257,634.13 HAROT 2022-2 A3DTD 08/24/2022 3.730% 07/20/2026
43815PAC3 310,000.00 AAA NR 8/15/2022 8/24/2022 309,981.52 3.73 417.55 309,989.11 305,638.61 DCENT 2021-A1 A1DTD 09/27/2021 0.580% 09/15/2026
254683CP8 797,500.00 AAA Aaa 9/20/2021 9/27/2021 797,329.25 0.58 205.58 797,415.57 779,824.85 CHAIT 2024-A1 ADTD 01/31/2024 4.600% 01/15/2027
161571HV9 3,825,000.00 AAA NR 1/24/2024 1/31/2024 3,824,417.45 4.61 7,820.00 3,824,448.72 3,804,879.74 CCCIT 2023-A1 A1DTD 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 16,213.00 929,891.54 931,380.49 KCOT 2023-2A A3DTD 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 1,084,767.79 1,087,820.67 BAAT 2023-1A A3DTD 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 1,774,942.66 1,781,989.24 HAROT 2023-3 A3DTD 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 2,639,529.61 2,650,572.67 TAOT 2023-C A3DTD 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 1,892.00 824,838.53 826,122.66 USAOT 2023-A A3DTD 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 3,374,470.78 3,398,774.51 BAAT 2023-2A A3DTD 11/21/2023 5.740% 06/15/2028
06054YAC1 3,075,000.00 NR Aaa 11/15/2023 11/21/2023 3,074,944.34 5.74 7,844.67 3,074,948.25 3,112,983.54 TAOT 2023-D A3DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 805,000.00 AAA NR 11/7/2023 11/14/2023 804,913.22 5.54 1,982.09 804,919.38 813,312.03 FITAT 2023-1 A3DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 2,880,000.00 AAA Aaa 8/15/2023 8/23/2023 2,879,821.44 5.53 7,078.40 2,879,843.23 2,898,961.34 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 3,460,000.00 AAA NR 9/12/2023 9/19/2023 3,459,845.34 5.23 8,042.58 3,459,860.05 3,489,460.17 CHAIT 2023-A1 ADTD 09/15/2023 5.160% 09/15/2028
161571HT4 3,380,000.00 AAA NR 9/7/2023 9/15/2023 3,379,063.06 5.17 7,751.47 3,379,153.98 3,404,081.49 HART 2023-C A3DTD 11/13/2023 5.540% 10/16/2028
44918CAD4 1,190,000.00 AAA NR 11/3/2023 11/13/2023 1,189,843.52 5.54 2,930.04 1,189,854.26 1,202,712.41 44 ATTACHMENT A
71 © PFM Asset Management LLC pfmam.com

3.34 3.34%
Total Investments $432,986,982.47
45 ATTACHMENT A
72 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY1/9/2024 1/17/2024 410,000.00 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 409,917.55 4.85%1/10/2024 1/18/2024 2,505,000.00 3137HBFY5 FHMS K513 A2 4.72% 12/1/2028 2,535,610.55 4.50%1/24/2024 1/31/2024 3,825,000.00 161571HV9 CHAIT 2024-A1 A 4.60% 1/15/2027 3,824,417.45 4.61%2/1/2024 2/8/2024 2,495,000.00 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 2,522,165.57 4.34%2/14/2024 2/22/2024 4,200,000.00 3137HBPD0 FHMS K515 A2 5.40% 1/1/2029 4,326,378.00 4.78%2/29/2024 3/7/2024 4,200,000.00 3137HBPM0 FHMS K516 A2 5.47% 1/1/2029 4,329,821.30 4.78%3/5/2024 3/14/2024 405,000.00 09290DAA9 BLACKROCK FUNDING INC CORPORATE NOTES (C 4.70% 3/14/2029 404,266.95 4.74%3/5/2024 3/14/2024 3,760,000.00 3137HC2C5 FHMS K517 A2 5.35% 1/1/2029 3,880,018.26 4.66%3/19/2024 3/28/2024 3,040,000.00 3137HC2L5 FHMS K518 A2 5.40% 1/1/2029 3,125,712.80 4.83%3/25/2024 3/25/2024 3,260,000.00 912797GY7 US TREASURY BILL 0.00% 3/28/2024 3,258,591.10 5.19% Total BUY 28,100,000.00 28,616,899.53 0.00
INTEREST1/1/2024 1/1/2024 1,875,000.00 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% 7/1/2025 11,793.751/1/2024 1/1/2024 557,500.00 646140DP5 NJ TURNPIKE AUTHORITY TXBL REV BONDS 1.04% 1/1/2026 2,918.511/1/2024 1/25/2024 4,477,651.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.961/1/2024 1/25/2024 4,200,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.001/1/2024 1/25/2024 2,215,000.00 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 9,229.17 46 ATTACHMENT A
73 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/1/2024 1/25/2024 3,941,658.00 3137F2LJ3 FHLMC MULTIFAMILY STRUCTURED P 3.11% 6/1/2027 10,238.461/1/2024 1/25/2024 3,305,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 13,357.711/1/2024 1/25/2024 2,440,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 9,882.001/1/2024 1/25/2024 2,540,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 6,864.351/1/2024 1/25/2024 4,200,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.001/1/2024 1/25/2024 4,200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.501/1/2024 1/25/2024 4,300,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 16,985.001/1/2024 1/25/2024 2,094,800.58 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 8,117.351/1/2024 1/25/2024 4,250,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 14,839.581/1/2024 1/25/2024 2,860,717.75 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,979.021/1/2024 1/25/2024 2,370,955.64 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 10,416.401/1/2024 1/25/2024 4,041,108.91 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 16,164.441/1/2024 1/25/2024 399,886.72 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,115.021/1/2024 1/25/2024 1,675,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 7,075.481/1/2024 1/25/2024 3,410,789.22 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,577.781/2/2024 1/2/2024 MONEY0002 MONEY MARKET FUND 1,961.521/8/2024 1/8/2024 4,100,000.00 931142EL3 WALMART INC CORPORATE NOTES 2.85% 7/8/2024 58,425.00 47 ATTACHMENT A
74 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/10/2024 1/10/2024 212,500.00 24422EVY2 JOHN DEERE CAPITAL CORP CORPORATE NOTES 1.25% 1/10/2025 1,328.131/14/2024 1/14/2024 2,020,000.00 24422EXB0 JOHN DEERE CAPITAL CORP CORPORATE NOTES 4.95% 7/14/2028 49,995.001/15/2024 1/15/2024 341,804.47 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 210.781/15/2024 1/15/2024 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.461/15/2024 1/15/2024 825,000.00 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 3,547.501/15/2024 1/15/2024 2,140,000.00 87612EBM7 TARGET CORP CORP NOTES (CALLABLE) 1.95% 1/15/2027 20,865.001/15/2024 1/15/2024 3,075,000.00 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 14,708.751/15/2024 1/15/2024 1,520,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 6,518.271/15/2024 1/15/2024 1,085,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,774.001/15/2024 1/15/2024 116,397.75 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 32.981/15/2024 1/15/2024 3,375,000.00 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 15,693.751/15/2024 1/15/2024 1,775,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 8,179.791/15/2024 1/15/2024 1,190,000.00 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 5,493.831/15/2024 1/15/2024 3,380,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.001/15/2024 1/15/2024 2,880,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 13,272.001/15/2024 1/15/2024 805,000.00 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 3,716.421/15/2024 1/15/2024 588,471.41 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 210.87 48 ATTACHMENT A
75 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/15/2024 1/15/2024 165,568.26 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 52.431/15/2024 1/15/2024 345,214.89 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 149.591/15/2024 1/15/2024 3,460,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 15,079.831/17/2024 1/17/2024 4,200,000.00 21684LGS5 COOPERAT RABOBANK UA/NY CERT DEPOS 5.08% 7/17/2026 104,902.001/18/2024 1/18/2024 310,000.00 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 963.581/18/2024 1/18/2024 2,640,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 11,902.001/21/2024 1/21/2024 120,159.20 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 27.041/21/2024 1/21/2024 2,310,000.00 3137EAEU9 FREDDIE MAC NOTES 0.37% 7/21/2025 4,331.251/30/2024 1/30/2024 1,650,000.00 91159HHX1 US BANCORP NOTES (CALLABLE) 2.40% 7/30/2024 19,800.001/31/2024 1/31/2024 5,040,000.00 91282CBJ9 US TREASURY NOTES 0.75% 1/31/2028 18,900.001/31/2024 1/31/2024 1,707,500.00 9128286A3 US TREASURY NOTES 2.62% 1/31/2026 22,410.941/31/2024 1/31/2024 17,305,000.00 91282CBH3 US TREASURY NOTES 0.37% 1/31/2026 32,446.881/31/2024 1/31/2024 5,000,000.00 91282CFB2 US TREASURY NOTES 2.75% 7/31/2027 68,750.002/1/2024 2/1/2024 965,000.00 54438CYK2 LOS ANGELES CCD, CA TXBL GO BONDS 0.77% 8/1/2025 3,729.732/1/2024 2/1/2024 725,000.00 797272QP9 SAN DIEGO CCD, CA TXBL GO BONDS 2.04% 8/1/2024 7,416.752/1/2024 2/1/2024 647,500.00 574193TQ1 MD ST TXBL GO BONDS 0.51% 8/1/2024 1,651.132/1/2024 2/1/2024 MONEY0002 MONEY MARKET FUND 3,436.05 49 ATTACHMENT A
76 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/1/2024 2/25/2024 3,305,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 13,357.712/1/2024 2/25/2024 3,941,658.00 3137F2LJ3 FHLMC MULTIFAMILY STRUCTURED P 3.11% 6/1/2027 10,238.462/1/2024 2/25/2024 2,540,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 6,864.352/1/2024 2/25/2024 1,675,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 7,075.482/1/2024 2/25/2024 3,409,033.21 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,570.792/1/2024 2/25/2024 4,200,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.002/1/2024 2/25/2024 2,855,353.19 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,964.062/1/2024 2/25/2024 4,200,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.002/1/2024 2/25/2024 2,093,215.06 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 8,111.212/1/2024 2/25/2024 2,505,000.00 3137HBFY5 FHMS K513 A2 4.72% 12/1/2028 9,861.352/1/2024 2/25/2024 306,971.74 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 855.942/1/2024 2/25/2024 4,250,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 14,839.582/1/2024 2/25/2024 4,030,817.60 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 16,123.272/1/2024 2/25/2024 4,300,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 16,985.002/1/2024 2/25/2024 4,200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.502/1/2024 2/25/2024 4,477,651.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.962/1/2024 2/25/2024 2,215,000.00 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 9,229.17 50 ATTACHMENT A
77 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/1/2024 2/25/2024 2,440,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 9,882.002/1/2024 2/25/2024 2,368,372.39 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 10,405.052/3/2024 2/3/2024 2,520,000.00 89788MAC6 TRUIST FINANCIAL CORP NOTES (CALLABLE) 1.12% 8/3/2027 14,175.002/5/2024 2/5/2024 2,165,000.00 458140BY5 INTEL CORP NOTES (CALLABLE) 3.75% 8/5/2027 40,593.752/6/2024 2/6/2024 437,500.00 857477BR3 STATE STREET CORP (CALLABLE) CORPORATE N 1.74% 2/6/2026 3,819.382/6/2024 2/6/2024 2,325,000.00 594918BY9 MICROSOFT CORP CORP NOTES (CALLABLE) 3.30% 2/6/2027 38,362.502/9/2024 2/9/2024 1,680,000.00 46647PCM6 JPMORGAN CHASE & CO CORP NOTES (CALLABLE 0.76% 8/9/2025 6,451.202/10/2024 2/10/2024 3,800,000.00 69371RS56 PACCAR FINANCIAL CORP CORPORATE NOTES 5.05% 8/10/2026 95,950.002/12/2024 2/12/2024 2,675,000.00 594918BB9 MICROSOFT CORP (CALLABLE) NOTES 2.70% 2/12/2025 36,112.502/13/2024 2/13/2024 1,887,500.00 89236TGT6 TOYOTA MOTOR CREDIT CORP CORP NOTES 1.80% 2/13/2025 16,987.502/14/2024 2/14/2024 3,680,000.00 66989HAP3 NOVARTIS CAPITAL CORP 1.75% 2/14/2025 32,200.002/15/2024 2/15/2024 3,825,000.00 161571HV9 CHAIT 2024-A1 A 4.60% 1/15/2027 7,331.252/15/2024 2/15/2024 2,245,000.00 912828V98 US TREASURY NOTES 2.25% 2/15/2027 25,256.252/15/2024 2/15/2024 2,065,000.00 91282CGM7 US TREASURY NOTES 3.50% 2/15/2033 36,137.502/15/2024 2/15/2024 1,085,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,774.002/15/2024 2/15/2024 805,000.00 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 3,716.422/15/2024 2/15/2024 1,775,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 8,179.79 51 ATTACHMENT A
78 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/15/2024 2/15/2024 541,280.10 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 193.962/15/2024 2/15/2024 3,375,000.00 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 15,693.752/15/2024 2/15/2024 3,027,500.00 91282CCS8 US TREASURY NOTES 1.25% 8/15/2031 18,921.882/15/2024 2/15/2024 1,775,000.00 912810FJ2 US TREASURY NOTES 6.12% 8/15/2029 54,359.382/15/2024 2/15/2024 315,476.88 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 194.542/15/2024 2/15/2024 825,000.00 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 3,547.502/15/2024 2/15/2024 3,460,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 15,079.832/15/2024 2/15/2024 1,190,000.00 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 5,493.832/15/2024 2/15/2024 1,875,000.00 912810FG8 US TREASURY NOTES 5.25% 2/15/2029 49,218.752/15/2024 2/15/2024 520,000.00 912828YB0 US TREASURY NOTES 1.62% 8/15/2029 4,225.002/15/2024 2/15/2024 102,560.99 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 29.062/15/2024 2/15/2024 6,575,000.00 912810FP8 US TREASURY NOTES 5.37% 2/15/2031 176,703.132/15/2024 2/15/2024 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.462/15/2024 2/15/2024 3,075,000.00 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 14,708.752/15/2024 2/15/2024 3,380,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.002/15/2024 2/15/2024 2,365,000.00 91282CDY4 US TREASURY NOTES 1.87% 2/15/2032 22,171.882/15/2024 2/15/2024 2,665,000.00 9128286B1 US TREASURY NOTES 2.62% 2/15/2029 34,978.13 52 ATTACHMENT A
79 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/15/2024 2/15/2024 542,500.00 912828Z94 US TREASURY NOTES 1.50% 2/15/2030 4,068.752/15/2024 2/15/2024 2,730,000.00 9128282R0 US TREASURY NOTES 2.25% 8/15/2027 30,712.502/15/2024 2/15/2024 1,520,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 6,308.002/15/2024 2/15/2024 139,965.63 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 44.322/15/2024 2/15/2024 565,000.00 91282CBL4 US TREASURY NOTES 1.12% 2/15/2031 3,178.132/15/2024 2/15/2024 2,385,000.00 91282CHT1 US TREASURY NOTES 3.87% 8/15/2033 46,209.382/15/2024 2/15/2024 310,603.20 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 134.592/15/2024 2/15/2024 2,880,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 13,272.002/15/2024 2/15/2024 2,195,000.00 91282CFF3 US TREASURY NOTES 2.75% 8/15/2032 30,181.252/15/2024 2/15/2024 5,672,500.00 91282CAE1 US TREASURY NOTES 0.62% 8/15/2030 17,726.562/16/2024 2/16/2024 410,000.00 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 1,601.852/18/2024 2/18/2024 1,885,000.00 06428CAA2 BANK OF AMERICA NA CORPORATE NOTES 5.52% 8/18/2026 52,082.552/18/2024 2/18/2024 310,000.00 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 963.582/18/2024 2/18/2024 2,640,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 11,902.002/21/2024 2/21/2024 95,379.25 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 21.462/24/2024 2/24/2024 1,605,000.00 46647PCW4 JPMORGAN CHASE CORP NOTES (CALLABLE) 2.94% 2/24/2028 23,649.682/25/2024 2/25/2024 3,995,000.00 3135G05X7 FANNIE MAE NOTES 0.37% 8/25/2025 7,490.63 53 ATTACHMENT A
80 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/29/2024 2/29/2024 7,500.00 9128282U3 US TREASURY NOTES 1.87% 8/31/2024 70.312/29/2024 2/29/2024 4,825,000.00 91282CGP0 US TREASURY NOTES 4.00% 2/29/2028 96,500.002/29/2024 2/29/2024 2,010,000.00 91282CGQ8 US TREASURY NOTES 4.00% 2/28/2030 40,200.002/29/2024 2/29/2024 5,030,000.00 91282CFH9 US TREASURY NOTES 3.12% 8/31/2027 78,593.752/29/2024 2/29/2024 12,670,000.00 91282CBQ3 US TREASURY NOTES 0.50% 2/28/2026 31,675.002/29/2024 2/29/2024 2,120,000.00 91282CFJ5 US TREASURY NOTES 3.12% 8/31/2029 33,125.002/29/2024 2/29/2024 8,820,000.00 91282CAJ0 US TREASURY NOTES 0.25% 8/31/2025 11,025.002/29/2024 2/29/2024 12,500.00 912828ZC7 US TREASURY NOTES 1.12% 2/28/2025 70.313/1/2024 3/1/2024 MONEY0002 MONEY MARKET FUND 2,026.723/1/2024 3/25/2024 2,440,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 9,882.003/1/2024 3/25/2024 4,477,651.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.963/1/2024 3/25/2024 4,200,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.003/1/2024 3/25/2024 4,200,000.00 3137HBPD0 FHMS K515 A2 5.40% 1/1/2029 18,900.003/1/2024 3/25/2024 2,849,970.61 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,949.043/1/2024 3/25/2024 2,215,000.00 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 9,229.173/1/2024 3/25/2024 3,305,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 13,357.713/1/2024 3/25/2024 2,495,000.00 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 9,505.95 54 ATTACHMENT A
81 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/1/2024 3/25/2024 4,020,477.44 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 16,081.913/1/2024 3/25/2024 2,505,000.00 3137HBFY5 FHMS K513 A2 4.72% 12/1/2028 9,861.353/1/2024 3/25/2024 4,200,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.003/1/2024 3/25/2024 2,091,622.08 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 8,105.043/1/2024 3/25/2024 3,941,658.00 3137F2LJ3 FHLMC MULTIFAMILY STRUCTURED P 3.11% 6/1/2027 10,238.463/1/2024 3/25/2024 3,407,267.77 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,563.773/1/2024 3/25/2024 4,200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.503/1/2024 3/25/2024 4,300,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 16,985.003/1/2024 3/25/2024 2,365,651.15 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 10,393.093/1/2024 3/25/2024 1,675,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 7,075.483/1/2024 3/25/2024 4,250,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 14,839.583/1/2024 3/25/2024 2,540,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 6,864.353/10/2024 3/10/2024 875,000.00 3130AT4C8 FEDERAL HOME LOAN BANK NOTES 3.37% 9/10/2032 14,765.633/11/2024 3/11/2024 1,400,000.00 89236TLB9 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES 5.25% 9/11/2028 36,750.003/14/2024 3/14/2024 3,450,000.00 437076BT8 HOME DEPOT INC CORP NOTES (CALLABLE) 2.80% 9/14/2027 48,300.003/15/2024 3/15/2024 805,000.00 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 3,716.423/15/2024 3/15/2024 88,106.28 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 24.96 55 ATTACHMENT A
82 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/15/2024 3/15/2024 7,500.00 91282CCX7 US TREASURY NOTES 0.37% 9/15/2024 14.063/15/2024 3/15/2024 491,194.37 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 176.013/15/2024 3/15/2024 3,825,000.00 161571HV9 CHAIT 2024-A1 A 4.60% 1/15/2027 14,662.503/15/2024 3/15/2024 288,836.63 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 178.123/15/2024 3/15/2024 3,075,000.00 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 14,708.753/15/2024 3/15/2024 825,000.00 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 3,547.503/15/2024 3/15/2024 2,880,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 13,272.003/15/2024 3/15/2024 3,460,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 15,079.833/15/2024 3/15/2024 1,775,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 8,179.793/15/2024 3/15/2024 1,085,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,774.003/15/2024 3/15/2024 114,610.28 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 36.293/15/2024 3/15/2024 1,520,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 6,308.003/15/2024 3/15/2024 275,933.16 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 119.573/15/2024 3/15/2024 3,375,000.00 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 15,693.753/15/2024 3/15/2024 3,380,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.003/15/2024 3/15/2024 1,190,000.00 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 5,493.833/15/2024 3/15/2024 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 56 ATTACHMENT A
83 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/16/2024 3/16/2024 410,000.00 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 1,657.083/18/2024 3/18/2024 2,640,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 11,902.003/18/2024 3/18/2024 310,000.00 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 963.583/21/2024 3/21/2024 70,832.38 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 15.943/23/2024 3/23/2024 3,545,000.00 3137EAEX3 FREDDIE MAC NOTES 0.37% 9/23/2025 6,646.883/29/2024 3/29/2024 4,935,000.00 17325FBB3 CITIBANK NA CORP NOTES (CALLABLE) 5.80% 9/29/2028 143,189.033/29/2024 3/29/2024 2,265,000.00 3133EMBH4 FEDERAL FARM CREDIT BANK (CALLABLE) 0.53% 9/29/2025 6,002.253/30/2024 3/30/2024 3,750,000.00 857477BM4 STATE STREET CORP NOTES (CALLABLE) 2.90% 3/30/2026 54,393.753/31/2024 3/31/2024 5,350,000.00 91282CEF4 US TREASURY NOTES 2.50% 3/31/2027 66,875.003/31/2024 3/31/2024 7,720,000.00 91282CBS9 US TREASURY NOTES 1.25% 3/31/2028 48,250.003/31/2024 3/31/2024 4,260,000.00 91282CGT2 US TREASURY NOTES 3.62% 3/31/2028 77,212.503/31/2024 3/31/2024 2,400,000.00 91282CAL5 US TREASURY NOTES 0.37% 9/30/2027 4,500.003/31/2024 3/31/2024 3,700,000.00 91282CCZ2 US TREASURY NOTES 0.87% 9/30/2026 16,187.503/31/2024 3/31/2024 525,000.00 91282CCY5 US TREASURY NOTES 1.25% 9/30/2028 3,281.25 Total INTEREST 472,239,833.19 3,229,582.39 0.00
MATURITY2/5/2024 2/5/2024 12,500.00 91159HHV5 US BANK NA CINCINNATI CORP NOTES (CALLAB 3.37% 2/5/2024 12,710.94 57 ATTACHMENT A
84 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
MATURITY2/29/2024 2/29/2024 9,500.00 9128286G0 US TREASURY NOTES 2.37% 2/29/2024 9,612.813/1/2024 3/1/2024 128,026.50 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 128,383.483/7/2024 3/7/2024 207,500.00 58933YAU9 MERCK & CO INC (CALLABLE) CORP NOTES 2.90% 3/7/2024 210,508.753/28/2024 3/28/2024 3,260,000.00 912797GY7 US TREASURY BILL 0.00% 3/28/2024 3,260,000.00 Total MATURITY 3,617,526.50 3,621,215.98 0.00
PAYDOWNS1/1/2024 1/25/2024 2,583.25 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 2,583.251/1/2024 1/25/2024 1,756.01 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,756.011/1/2024 1/25/2024 5,364.56 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 5,364.561/1/2024 1/25/2024 1,585.52 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 1,585.521/1/2024 1/25/2024 10,291.31 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 10,291.311/1/2024 1/25/2024 92,914.98 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 92,914.981/15/2024 1/15/2024 13,836.76 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 13,836.761/15/2024 1/15/2024 47,191.31 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 47,191.311/15/2024 1/15/2024 26,327.59 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 26,327.591/15/2024 1/15/2024 25,602.63 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 25,602.631/15/2024 1/15/2024 34,611.69 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 34,611.69 58 ATTACHMENT A
85 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS1/21/2024 1/21/2024 24,779.95 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 24,779.952/1/2024 2/25/2024 1,592.98 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 1,592.982/1/2024 2/25/2024 10,340.16 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 10,340.162/1/2024 2/25/2024 2,721.24 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 2,721.242/1/2024 2/25/2024 1,765.44 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,765.442/1/2024 2/25/2024 5,382.58 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 5,382.582/1/2024 2/25/2024 178,945.24 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 178,945.242/15/2024 2/15/2024 34,670.04 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 34,670.042/15/2024 2/15/2024 14,454.71 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 14,454.712/15/2024 2/15/2024 50,085.73 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 50,085.732/15/2024 2/15/2024 26,640.25 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 26,640.252/15/2024 2/15/2024 25,355.35 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 25,355.352/21/2024 2/21/2024 24,546.87 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 24,546.873/1/2024 3/25/2024 2,090.20 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 2,090.203/1/2024 3/25/2024 2,545.63 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 2,545.633/1/2024 3/25/2024 4,218.68 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 4,218.683/1/2024 3/25/2024 13,715.70 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 13,715.70 59 ATTACHMENT A
86 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS3/1/2024 3/25/2024 6,090.52 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 6,090.523/15/2024 3/15/2024 14,092.92 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 14,092.923/15/2024 3/15/2024 24,335.21 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 24,335.213/15/2024 3/15/2024 25,398.38 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 25,398.383/15/2024 3/15/2024 45,850.11 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 45,850.113/15/2024 3/15/2024 32,548.06 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 32,548.063/21/2024 3/21/2024 23,689.40 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 23,689.40 Total PAYDOWNS 857,920.96 857,920.96 0.00
SELL1/12/2024 1/17/2024 2,105,000.00 58933YAU9 MERCK & CO INC (CALLABLE) CORP NOTES 2.90% 3/7/2024 2,119,613.38 -9,970.521/25/2024 1/31/2024 750,000.00 3133ELVX9 FEDERAL FARM CREDIT BANK NOTES 0.87% 4/8/2024 745,279.90 -6,780.001/25/2024 1/31/2024 925,000.00 57636QAB0 MASTERCARD INC CORP NOTES 3.37% 4/1/2024 931,724.75 -4,691.521/25/2024 1/31/2024 965,000.00 717081ES8 PFIZER INC CORP NOTES 2.95% 3/15/2024 972,704.99 -3,263.912/1/2024 2/1/2024 235,000.00 912828ZL7 US TREASURY NOTES 0.37% 4/30/2025 223,566.95 -10,720.212/5/2024 2/8/2024 2,550,000.00 931142EL3 WALMART INC CORPORATE NOTES 2.85% 7/8/2024 2,532,672.75 -39,523.202/16/2024 2/22/2024 3,450,000.00 4581X0DZ8 INTER-AMERICAN DEVEL BK NOTES 0.50% 9/23/2024 3,361,712.58 -94,928.513/1/2024 3/7/2024 1,550,000.00 931142EL3 WALMART INC CORPORATE NOTES 2.85% 7/8/2024 1,543,630.79 -21,149.23 60 ATTACHMENT A
87 © PFM Asset Management LLC pfmam.com

5.82 5.82%
Total Investments $10,772,325.68
63 ATTACHMENT A
90 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Appendix
|
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bankis a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sourcesexternal to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers arefor illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion ofthe strategy rated by a NRSRO.It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.

Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any salescharges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to belower than the performance shown.The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast,projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion asof the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actualevents occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and datapresented are not necessarily indicative of future events or expected performance.For more information regarding PFMAM's services or entities, please visit www.pfmam.com.© 2023 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 65 ATTACHMENT A
92 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
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 estimatedmarket value.

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

Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is showngross 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. 66 ATTACHMENT A
93 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
Appendix
|
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.Agencies: Federal agency securities and/or Government-sponsored enterprises.Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.

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

Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector addedor subtracted from the overall portfolio performance.Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compoundingon investment returns, while nominal yield does not.FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.Interest Rate: Interest per year divided by principal amount and expressed as a percentage.Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.Maturity: The date upon which the principal or stated value of an investment becomes due and payable.Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.Par Value: The nominal dollar face amount of a security.Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is themortgage-backed security. 67 ATTACHMENT A
94 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended March 31, 2024
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 andmaturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whosedecisions are binding on its members.Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.U.S. Treasury: The department of the U.S. government that issues Treasury securities.Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time periodfrom purchase date to maturity, stated as a percentage on an annualized basis.YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the timeperiod remaining until maturity, stated as a percentage on an annualized basis. 68 ATTACHMENT A
95 CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com

INVESTMENT REPORT
Period Ending March 31, 2024
City of Stockton
69 ATTACHMENT A 96
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Portfolio Holdings
SECTION 4 Transactions
Table of Contents As of March 31, 2024
70 ATTACHMENT A 97
SECTION | Section 1 | Economic Update
71 ATTACHMENT A 98
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 monetary policy and tighter financial conditions, we believe the economy will gradually soften and the Fed will loosen monetary policy in 2024.

As expected at the March 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 March Summary of Economic Projections (SEP) showed stronger real GDP growth outlook and higher core inflation projections for 2024 on resilient labor market and consumer data. The median projection for Federal Funds rate by year-end remained the same at 4.625%, implying three 0.25% cuts. We continue to believe the FOMC will loosen monetary policy in mid-2024 as inflation and economic growth continue to moderate.

The US Treasury yield curve stabilized in March as the FOMC left the Federal Funds rate unchanged. The 2-year Treasury yield was unchanged at 4.62%, the 5-year Treasury fell 4 basis points to 4.21%, and the 10-year Treasury yield dropped 5 basis points to 4.20%. The inversion between the 2-year Treasury yield and 10-year Treasury yield widened to -42 basis points at March month-end versus -37 basis points at February month-end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -56 basis points. The inversion between 3-month and 10-year Treasuries widened to -117 basis points in March from -113 basis points in February. 72 ATTACHMENT A 99
Employment
-400
-200
0 200
400
600
800
1,000 MOM 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 a better-than-expected 303,000 jobs in March, and the prior two months were revised up by 22,000. Leading sectors included healthcare and government. Job creation remains healthy, with the three-month moving average payrolls at 276,000 and the six-month moving average at 244,000. The unemployment rate edged down to 3.8% in March. The labor participation rate ticked up to

62.7% but remained below the pre-pandemic level of 63.3%. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons was unchanged at 7.3%. Average hourly earnings rose 4.1% yearover-year in March, down from 4.3% last month. Employment remains strong by historical standards.

Source: US Department of Labor Source: US Department of Labor 73 ATTACHMENT A 100
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) edged up to 8.756 million in February compared to a downwardly revised 8.748 million in January. Job openings still represent a healthy ratio of around 1.4 jobs for each unemployed individual. While the current level of job openings remains elevated from a historical perspective, the trend is decelerating.

Source: US Department of Labor
74 ATTACHMENT A 101
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 Core Deflator YOY % Change
Fed Target
YOY (%) Change
The Consumer Price Index (CPI) came in higher than expected in March, increasing 0.4% month-over-month and 3.5% year-over-year. The Core CPI, which excludes volatile food and energy components, was up 0.4% month-over-month and 3.8% year-over-year in March, unchanged from 3.8% in February. Energy costs accelerated during the month, and shelter costs remain elevated. The Personal Consumption Expenditures (PCE) Index headline inflation increased 0.3% month-over-month and rose 2.5% year-over-year in February, in line with expectations. Core PCE, the Federal Reserve’s preferred inflation gauge, increased 0.3% month-over-month and rose 2.8% yearover-year. While the trend is moderating, the path to the Fed's 2% inflation target remains uneven.

Source: US Department of Labor Source: US Department of Commerce 75 ATTACHMENT A 102
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
March Retail Sales rose above expectations at +0.7% after a sizeable upward revision to +0.9% in February. On a year-over-year basis, Retail Sales growth increased 4.0% for March. Sales were supported by higher gas prices and higher volume sales in a busy travel period for spring break at schools, as well as strength from non-store retailers. The Conference Board’s Consumer Confidence Index edged down to 104.7 in March after a sizeable downward revision to 104.8 in February. The lower reading was largely due to a deteriorating view of the labor market and future business conditions, along with concerns about the highly polarized political environment. 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) 76 ATTACHMENT A 103
Leading Indicators of Economic Activity
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%

0.0%

5.0%

10.0%

15.0%
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) rose to 0.1% month-over-month in February ending its 2-year uninterrupted contraction since February 2022. The index declined 6.3% year-over-year. The Conference Board is no longer calling for recession but expects GDP growth to slow to near zero this year. The Chicago Fed National Activity Index (CFNAI) increased +0.05 in February from a downwardly revised -0.54 in January. On a 3-month moving average basis, the CFNAI decreased to -0.18 in February from -0.11 in January, indicating moderating economic growth.

Source: The Conference Board Source: Federal Reserve Bank of Chicago 77 ATTACHMENT A 104
Housing
0 200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
In Thousands of Units
Annualized Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
Housing Starts increased 10.7% month-over-month in February to 1.521 million units, due to milder weather than seen in January and some rising confidence among homebuilders as mortgage rates fell below 7%. Starts for multi-family homes increased 8.6%, while single family homes increased 11.6% for the month. Total starts of new single-family homes are up 35.2% year-over-year. According to Freddie Mac, 30-year fixed mortgage rates averaged 6.79% as of March 31st. According to the Case-Shiller 20-City Home Price Index, housing prices rose 6.59% year-over-year in January, accelerating from a 6.15% year-over-year gain in December. 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
78 ATTACHMENT A 105
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 unexpectedly expanded to 50.3 in March from 47.8 in February, marking the first month of expansion in factory activity above a reading of 50 since 2022. Production and new orders surged, while employment improved and prices paid increased. The ISM Services Index fell to 51.4 in March from 52.6 in February but remained in expansion territory for the 15th consecutive month. The survey reflected slower growth in new orders, a contraction in employment, faster supplier deliveries, and declining price pressures.

Source: Institute for Supply Management
79 ATTACHMENT A 106
Gross Domestic Product (GDP)
Components of GDP 3/23 6/23 9/23 12/23

2.5% 0.6% 2.1% 2.2%
-1.7% 0.9% 1.7% 0.2%

0.6% 0.0% 0.0% 0.3%

0.3% 0.1% 0.5% 0.2%

0.5% 0.5% 0.5% 0.6%

2.3% 2.1% 4.9% 3.4%
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
State and Local (Consumption and Gross
Investment)
-40.0%
-30.0%
-20.0%
-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Source: US Department of Commerce Source: US Department of Commerce According to the third estimate, fourth quarter GDP increased at an annualized rate of 3.4%, revised up from the second estimate of 3.2%.

The upward revision was due mainly to stronger personal consumption expenditures and nonresidential investment. GDP growth for the full year 2023 is estimated at 2.5%. The consensus projection calls for 2.0% growth in the first quarter and 2.2% growth for the full year 2024.
80 ATTACHMENT A 107
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 March 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 FOMC Statement and Summary of Economic Projections (SEP) was minimally changed from January. 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. For 2024, the March SEP showed stronger real GDP growth outlook of 2.1% from 1.4% in December as labor market and consumer data have been resilient. Core inflation projections nudged up from 2.4% to 2.6%. The median projection for the Federal Funds rate by the end of the year remained the same at 4.625%, implying three 0.25% cuts in 2024, three cuts in 2025 and three cuts in 2026. 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 $1.5T to approximately $7.5T.

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
Recession
Yield (%)
81 ATTACHMENT A 108
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
Mar-24
Dec-23
Mar-23
Yield (%)
At the end of March, the 2-year Treasury yield was 59 basis point higher, and the 10-Year Treasury yield was 73 basis points higher, yearover-year. The inversion between the 2-year Treasury yield and 10-year Treasury yield widened to -42 basis points at March month-end versus -37 basis points at February month-end. The average historical spread (since 2003) is about +130 basis points. The inversion between 3-month and 10-year Treasuries widened to -117 basis points in March from -113 basis points in February. 82 ATTACHMENT A 109
Section 2| SECTION | Section 2 | Account Profile
83 ATTACHMENT A 110
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 March 31, 2024
84 ATTACHMENT A 111

STATEMENT OF COMPLIANCE
City of Stockton Reserve | Account #10020 | As of March 31, 2024 Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES (CMOS)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV; Agencies & Agency CMOs) 20.0 10.1 Compliant Max Maturity (Years) 5.0 0.0 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV; Non Agency ABS & MBS) 20.0 4.5 Compliant
Max % Issuer (MV) 5.0 1.5 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA by 1, A Issuer) 0.0 0.0 Compliant

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

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE (CDARS)
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 0.0 0.0 Compliant

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

COMMERCIAL PAPER
Max % (MV) 40.0 1.4 Compliant
Max % Issuer (MV) 5.0 1.4 Compliant
Max Maturity (Days) 270 36 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 22.3 Compliant
Max % Issuer (MV) 5.0 1.4 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE CD/
TD)
Max % (MV) 20.0 0.0 Compliant
85 ATTACHMENT A 112

STATEMENT OF COMPLIANCE
City of Stockton Reserve | Account #10020 | As of March 31, 2024 Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years) 5 0.0 Compliant

FEDERAL AGENCIES
Max % (MV) 100.0 22.1 Compliant
Max % Issuer (MV; Agencies & Agency CMOs) 100.0 10.1 Compliant Max Callables (MV) 20.0 0.9 Compliant
Max Maturity (Years) 10 9 Compliant

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

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 0.1 Compliant
Max % Issuer (MV) 20.0 0.1 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

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

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 30.0 0.9 Compliant
Max % Issuer (MV) 5.0 0.3 Compliant
Max Maturity (Years) 5 1 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 30.0 0.9 Compliant
Max % Issuer (MV) 5.0 0.6 Compliant
Max Maturity (Years) 5 1 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 1.9 Compliant
Max % Issuer (MV) 5.0 1.9 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant

REPURCHASE AGREEMENTS
Max Maturity (Years) 0.0 0.0 Compliant
86 ATTACHMENT A 113

STATEMENT OF COMPLIANCE
City of Stockton Reserve | Account #10020 | As of March 31, 2024 Rules Name Limit Actual Compliance
Status Notes

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 1.3 Compliant
Max % Issuer (MV) 10.0 1.3 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 41.4 Compliant
Max Maturity (Years) 10 9 Compliant
87 ATTACHMENT A 114
Portfolio Characteristics
City of Stockton Reserve
03/31/24 12/31/23
Benchmark* Portfolio Portfolio
Average Maturity (yrs) 2.69 2.88 2.87
Average Modified Duration 2.51 2.49 2.47
Average Purchase Yield n/a 2.51% 2.23%
Average Market Yield 4.63% 4.81% 4.57%
Average Quality** AA+ AA AA/Aa1
Total Market Value 321,428,490 320,200,933
*ICE BofA US Issuers 1-5 Yr AAA-A US Corp/Govt Idx
**The benchmark is a blended rating of S&P, Moody’s, and Fitch. Portfolio is S&P and Moody’s respectively.

As of March 31, 2024
88 ATTACHMENT A 115
City of Stockton Reserve
Sector Distribution
Agency

22.1%
Asset Backed
Security

4.5%
Commercial
Paper

1.4%
Corporate

22.3%
Money Market
Fund

0.1%
Municipal Bonds

1.9%
Supranational

1.3%
US Treasury

41.4%
Agency CMBS

2.3%
Cash

0.9%
Negotiable CD

1.9%
March 31, 2024 December 31, 2023
ABS

4.7%
Agency

22.2%
Commercial
Paper

1.4%
Corporate

20.3%
Money Market
Fund

0.1%
Municipal Bonds

1.9%
Supranational

1.3%
US Treasury

45.7%
CMO

2.5%
As of March 31, 2024
89 ATTACHMENT A 116
Issue Name Investment Type % Portfolio
Government of the United States US Treasury 41.40%
Federal National Mortgage Association Agency 10.10%
Federal Farm Credit Bank Agency 5.38%
Federal Home Loan Bank Agency 4.66%
Federal Home Loan Mortgage Corp Agency CMBS 2.30%
WestPac Banking Corp Negotiable CD 1.87%
Federal Home Loan Mortgage Corp Agency 1.71%
JP Morgan ABS Asset Backed Security 1.54%
JP Morgan Chase & Co Corporate 1.40%
MUFG Bank Ltd/NY Commercial Paper 1.39%
Deere & Company Corporate 1.34%
John Deere ABS Asset Backed Security 1.31%
Wal-Mart Stores Corporate 1.28%
Inter-American Dev Bank Supranational 1.27%
Amazon.com Inc Corporate 1.27%
Morgan Stanley Corporate 1.22%
Visa Inc Corporate 1.17%
United Health Group Inc Corporate 1.16%
Paccar Financial Corporate 1.12%
Novartis Capital Corp Corporate 1.11%
Charles Schwab Corp/The Corporate 1.02%
National Rural Utilities Corporate 0.96%
Account Receivable Payable Cash 0.95%
Cisco Systems Corporate 0.94%
Prologis Trust Corporate 0.90%
Microsoft Corporate 0.82%
Northern Trust Corp Corporate 0.68%
MasterCard Inc Corporate 0.67%
Target Corp Corporate 0.62%
Merck & Company Corporate 0.62%
Pepsico Inc Corporate 0.60%
Honeywell Corp Corporate 0.60%
Bank of America Corp Corporate 0.58%
Toyota Motor Corp Corporate 0.57%
Goldman Sachs Inc. Corporate 0.56%
Florida Hurricane Catastrophe Municipal Bonds 0.56%
US Bancorp Corporate 0.51%
Citigroup Inc Corporate 0.42%
Issuers
City of Stockton Reserve – Account #10020
As of March 31, 2024
90 ATTACHMENT A 117
Issue Name Investment Type % Portfolio
American Express ABS Asset Backed Security 0.40%
Honda ABS Asset Backed Security 0.35%
Los Angeles Cmnty College Dis Municipal Bonds 0.28%
Tennessee Valley Authority Agency 0.26%
Discover Card Execution Note Trust Asset Backed Security 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 Asset Backed Security 0.19%
California Edl Facs Auth Rev Municipal Bonds 0.19%
New Jersey State Turnpike Authority Municipal Bonds 0.16% Toyota ABS Asset Backed Security 0.14%
State Street Bank Corporate 0.13%
BMW Vehicle Lease Trust Asset Backed Security 0.13%
Hyundai Auto Receivables Asset Backed Security 0.11%
Carmax Auto Owner Trust Asset Backed Security 0.10%
Federated GOVT Obligation MMF Money Market Fund 0.09%
California State Dept Water Municipal Bonds 0.02%
TOTAL 100.00%
Issuers
City of Stockton Reserve – Account #10020
As of March 31, 2024
91 ATTACHMENT A 118
AAA AA A <A NR
03/31/24 8.3% 75.7% 15.0% 1.0% 0.0%
12/31/23 7.2% 72.9% 14.8% 1.0% 4.2%
Source: S&P Ratings
March 31, 2024 vs. December 31, 2023

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%
AAA AA A <A NR
03/31/24 12/31/23
Quality Distribution
City of Stockton Reserve
As of March 31, 2024
92 ATTACHMENT A 119

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 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 5.0% 6.8% 11.7% 34.8% 12.3% 7.8% 6.3% 15.3%
Benchmark* 0.0% 0.0% 2.3% 34.2% 27.4% 22.9% 13.1% 0.0%
*ICE BofA US Issuers 1-5 Yr AAA-A US Corp/Govt Idx
Duration Distribution
City of Stockton Reserve
As of March 31, 2024
93 ATTACHMENT A 120

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%
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 $1,487,170.39 $5,912,237.60 N/A N/A N/A N/A $8,421,120.56 Change in Market Value ($276,160.83) $4,589,726.12 N/A N/A N/A N/A $1,865,117.99 TOTAL DOLLAR RETURN $1,211,009.56 $10,501,963.72 N/A N/A N/A N/A $10,286,238.55 Annualized
TOTAL RATE OF RETURN 3 months 12 months 2 years 3 years 5 years 10 years Since Inception
City of Stockton Reserve Portfolio 0.38% 3.38% N/A N/A N/A N/A 2.02% ICE BofA 1-5 US Treasury & Agency Index (0.01%) 2.45% N/A N/A N/A N/A 1.32% ICE BofA 1-5 Yr AAA-A US Corp & Govt Index 0.06% 2.68% N/A N/A N/A N/A 1.47% Basis Point Fee* 0.00% 0.023% N/A N/A N/A N/A 0.029%
Net of Fee Return 0.38% 3.36% N/A N/A N/A N/A 1.99%
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 March 31, 2024
94 ATTACHMENT A 121
Purchase Yield as of 03/31/24 = 2.51%

0.00 0.50

1.00 1.50

2.00 2.50

3.00 Percent (%)
Historical Average Purchase Yield
City of Stockton Reserve
As of March 31, 2024
95 ATTACHMENT A 122
SECTION | Section 3 | Portfolio Holdings
96 ATTACHMENT A 123

HOLDINGS REPORT
City of Stockton Reserve | Account #10020 | As of March 31, 2024 Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
ABS
254683CP8 DCENT 2021-1 A 0.58 09/15/2024 797,500.00 09/27/2021 797,329.25 97.75 779,534.00 0.24% Aaa/AAA 0.46

0.59% 797,473.65 5.57% 205.58 (17,939.65) NA 1.00
43813GAC5 HAROT 2021-1 A3 0.27 04/21/2025 47,142.98 02/24/2021 47,142.12 99.43 46,873.39 0.01% Aaa/NA 1.06

0.27% 47,142.83 4.70% 3.54 (269.44) AAA 0.15
44933LAC7 HART 2021-A A3 0.38 09/15/2025 90,275.05 04/28/2021 90,265.56 99.18 89,535.27 0.03% NA/AAA 1.46

0.39% 90,272.83 5.26% 15.25 (737.56) AAA 0.24
05593AAC3 BMWLT 2023-1 A3 5.16 11/25/2025 415,000.00 02/07/2023 414,990.12 99.76 414,024.29 0.13% Aaa/AAA 1.65

5.43% 414,994.12 5.64% 356.90 (969.83) NA 0.64
14316NAC3 CARMX 2021-1 A3 0.34 12/15/2025 74,013.36 01/27/2021 73,998.73 98.75 73,088.15 0.02% NA/AAA 1.71

0.35% 74,010.92 6.15% 11.18 (922.76) AAA 0.34
89239BAC5 TAOT 2021-C A3 0.43 01/15/2026 445,344.26 09/27/2021 445,308.77 97.86 435,793.05 0.14% Aaa/AAA 1.79

0.43% 445,331.99 6.04% 85.11 (9,538.94) NA 0.57
14314QAC8 CARMX 2021-2 A3 0.52 02/17/2026 243,385.12 04/21/2021 243,332.67 98.36 239,394.36 0.07% NA/AAA 1.88

0.53% 243,372.07 6.39% 56.25 (3,977.71) AAA 0.47
44935FAD6 HART 2021-C A3 0.74 05/15/2026 263,438.25 11/17/2021 263,379.44 97.77 257,561.34 0.08% NA/AAA 2.12

0.75% 263,414.78 6.00% 86.64 (5,853.45) AAA 0.66
05592XAD2 BMWOT 2023-A A3 5.47 610,000.00 07/11/2023 609,891.91 100.41 612,502.16 0.19% NA/AAA 3.91 02/25/2028 5.47% 609,908.48 5.49% 556.12 2,593.68 AAA 2.26 477920AC6 JDOT 2023-B A3 5.18 03/15/2028 1,085,000.00 06/21/2023 1,084,819.02 100.02 1,085,208.54 0.34% Aaa/NA 3.96

5.51% 1,084,848.24 5.50% 2,497.91 360.30 AAA 2.10
02582JJZ4 AMXCA 2023-1 A 4.87 05/15/2028 1,270,000.00 06/07/2023 1,269,887.35 99.79 1,267,315.35 0.40% NA/AAA 4.12

4.87% 1,269,905.65 5.37% 2,748.84 (2,590.31) AAA 1.97
47787CAC7 JDOT 2023-C A3 5.48 05/15/2028 3,105,000.00 09/12/2023 3,104,786.69 100.71 3,127,193.30 0.98% Aaa/NA 4.12

5.40% 3,104,811.16 5.54% 7,562.40 22,382.14 AAA 2.29
438123AC5 HAROT 2023-4 A3 5.67 06/21/2028 1,050,000.00 11/01/2023 1,049,815.10 101.21 1,062,706.36 0.33% Aaa/NA 4.22

5.74% 1,049,830.99 5.44% 1,653.75 12,875.37 AAA 2.50
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 4,915,000.00 -- 4,920,147.11 100.51 4,940,051.26 1.54% NR/AAA 4.46

5.13% 4,919,536.48 5.33% 11,271.73 20,514.78 AAA 2.26
14,415,093.83 100.15 14,430,780.82 4.51% Aaa/AAA 3.77
Total ABS 14,411,099.02 4.65% 14,414,854.19 5.48% 27,111.20 15,926.63 AAA 1.99 AGENCY
3133ELVX9 FEDERAL FARM CREDIT BANKS 750,000.00 04/07/2020 750,000.00 99.92 749,400.63 0.23% Aaa/AA+ 0.02 FUNDING CORP 0.875 04/08/2024 0.87% 750,000.00 4.97% 3,153.65 (599.37) AA+ 0.02 97 ATTACHMENT A 124

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
3135G0X24 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 1.625 01/07/2025 4,380,000.00 03/04/20200.85% 4,542,673.20
4,405,840.12

97.36 5.18%
4,264,383.37
16,607.50

1.33%
(141,456.75)
Aaa/AA+
AA+

0.77 0.75
3130AJHU6 FEDERAL HOME LOAN BANKS 0.5
04/14/2025 2,460,000.00 04/15/20200.60%
2,447,798.40
2,457,471.38

95.33 5.19%
2,345,071.41
5,705.83

0.73%
(112,399.97)
Aaa/AA+
AA+

1.04 1.01
3135G03U5 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.625 04/22/2025 10,880,000.00 --0.63%
10,879,060.80
10,879,834.78

95.48 5.06%
10,388,348.90
30,033.33

3.25%
(491,485.88)
Aaa/AA+
AA+

1.06 1.03
3135G04Z3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 06/17/2025 6,642,500.00 06/17/2020

0.54%
6,628,750.02
6,639,171.69

94.84 4.95%
6,299,417.53
9,594.72

1.97%
(339,754.16)
Aaa/AA+
AA+

1.21 1.18
3137EAEU9 FEDERAL HOME LOAN MORTGAGE
CORP 0.375 07/21/2025 2,310,000.00 07/21/2020

0.48%
2,298,496.20
2,306,997.91

94.34 4.90%
2,179,221.15
1,684.38

0.68%
(127,776.76)
Aaa/AA+
AA+

1.31 1.27
3135G05X7 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.375 08/25/2025 3,995,000.00 08/25/20200.47% 3,976,303.40
3,989,767.82

93.93 4.91%
3,752,623.35
1,498.12

1.17%
(237,144.47)
Aaa/AA+
AA+

1.40 1.37
3137EAEX3 FEDERAL HOME LOAN MORTGAGE
CORP 0.375 09/23/2025 3,545,000.00 09/23/2020

0.44%
3,534,329.55
3,541,840.98

93.67 4.87%
3,320,597.28
295.42

1.04%
(221,243.70)
Aaa/AA+
AA+

1.48 1.44
3133EMBH4 FEDERAL FARM CREDIT BANKS
FUNDING CORP 0.53 09/29/2025 2,265,000.00 10/07/20200.57% 2,261,036.25
2,263,808.26

93.69 4.96%
2,122,131.55

66.69 0.66%
(141,676.71)
Aaa/AA+
AA+

1.50 1.46
3135G06G3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 11/07/2025 8,145,000.00 --0.54%
8,127,104.90
8,139,258.25

93.47 4.79%
7,613,362.90
16,290.00

2.38%
(525,895.35)
Aaa/AA+
AA+

1.61 1.56
3130ATS57 FEDERAL HOME LOAN BANKS 4.5
03/10/2028 4,100,000.00 03/28/20233.89%
4,211,028.00
4,188,367.97
100.43

4.38%
4,117,536.03
10,762.50

1.29%
(70,831.94)
Aaa/AA+
AA+

3.94 3.58
3133EN7B0 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.75 01/25/2030 3,000,000.00 01/20/20233.83% 2,985,090.00
2,987,609.02

96.70 4.40%
2,901,132.93
20,625.00

0.91%
(86,476.09)
Aaa/AA+
AA+

5.82 5.12
3133EN4V9 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.125 09/23/2030 2,100,000.00 12/22/2022

4.22%
2,087,505.00
2,089,542.57

98.48 4.40%
2,068,148.46
1,925.00

0.65%
(21,394.11)
Aaa/AA+
AA+

6.48 5.62
3133ENQ45 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.25 09/30/2030 875,000.00 11/30/2022

4.40%
866,250.00
867,742.49

99.02 4.42%
866,449.68
103.30

0.27%
(1,292.81)
Aaa/AA+
AA+

6.50 5.51
880591EX6 TENNESSEE VALLEY AUTHORITY 1.5
09/15/2031 1,003,000.00 01/23/20234.03%
818,959.53
844,209.70

82.49 4.27%
827,392.90
668.67

0.26%
(16,816.80)
Aaa/AA+
AA+

7.46 6.89
3133ENFQ8 FEDERAL FARM CREDIT BANKS
FUNDING CORP 1.81 12/01/2031 2,303,000.00 01/25/20233.94% 1,939,056.91
1,987,605.19

83.24 4.41%
1,916,967.06
13,894.77

0.60%
(70,638.12)
Aaa/AA+
AA+

7.67 6.93
3133ENGS3 FEDERAL FARM CREDIT BANKS
FUNDING CORP 1.625 12/09/2031 4,500,000.00 02/24/20234.35% 3,613,410.00
3,723,715.40

81.97 4.42%
3,688,471.30
22,750.00

1.15%
(35,244.09)
Aaa/AA+
AA+

7.69 7.00
3133EN6M7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.0 01/19/2033 3,000,000.00 01/18/20233.93% 3,017,490.00
3,015,392.93

96.56 4.48%
2,896,789.29
24,000.00

0.91%
(118,603.64)
Aaa/AA+
AA+

8.80 7.25
3130AV4X7 FEDERAL HOME LOAN BANKS 4.375
03/11/2033 2,500,000.00 05/12/2023

4.04%
2,568,175.00
2,562,056.73

99.34 4.47%
2,483,478.20
6,076.39

0.78%
(78,578.53)
Aaa/AA+
AA+

8.94 7.31
98 ATTACHMENT A 125

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
3130AVWG3 FEDERAL HOME LOAN BANKS 4.0
06/10/2033 6,195,000.00 --4.40%
5,998,322.75
6,012,352.29

96.56 4.46%
5,982,083.74
76,405.00

1.87%
(30,268.55)
Aaa/AA+
AA+

9.19 7.48
Total Agency 74,948,500.00 1.97%
73,550,839.91
73,652,585.47

94.66 4.76%
70,783,007.67
262,140.26

22.12%
(2,869,577.80)
Aaa/AA+
AA+

3.63 3.19

AGENCY CMBS
3137F2LJ3 FHMS K-066 A2 3.117 06/25/2027 2,400,000.00 10/20/2022

4.80%
2,234,343.75
2,286,012.73

95.51 5.04%
2,292,138.72
6,234.00

0.72%
6,125.99
Aaa/AA+
AAA

3.24 2.88
3137FG6X8 FHMS K-077 A2 3.85 05/25/2028 5,245,000.00 05/24/2023

4.24%
5,148,705.08
5,165,146.98

97.01 5.05%
5,088,039.70
16,827.71

1.59%
(77,107.28)
Aaa/AA+
AAA

4.15 3.67
Total Agency
CMBS 7,645,000.00 4.42%
7,383,048.83
7,451,159.71

96.54 5.05%
7,380,178.42
23,061.71

2.31%
(70,981.28)
Aaa/AA+
AAA

3.87 3.42
CASH
CCYUSD Cash 6,002.25 --

0.00%
6,002.25
6,002.25

1.00 0.00%
6,002.25

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
CCYUSD Receivable 3,044,116.20 --

0.00%
3,044,116.20
3,044,116.20

1.00 0.00%
3,044,116.20

0.00 0.95%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 3,050,118.45 0.00%
3,050,118.45
3,050,118.45

1.00 0.00%
3,050,118.45

0.00 0.95%

0.00 Aaa/AAA
AAA

0.00 0.00

COMMERCIAL
PAPER
62479LE68 MUFG Bank, Ltd., New York Branch
05/06/2024 4,500,000.00 11/29/2023

5.68%
4,390,091.25
4,475,806.25

99.43 5.35%
4,474,192.50

0.00 1.40%
(1,613.75)
P-1/A-1
NA

0.10 0.10
Total Commercial
Paper 4,500,000.00
11/29/2023

5.68%
4,390,091.25
4,475,806.25

99.43 5.35%
4,474,192.50

0.00 1.40%
(1,613.75)
P-1/A-1
NA

0.10 0.10

CORPORATE
57636QAB0 MASTERCARD INC 3.375
04/01/2024 2,125,000.00 04/02/20192.71%
2,194,381.25
2,125,000.00
100.00

3.32%
2,125,000.00
35,859.38

0.66%

0.00 Aa3/A+
NA

0.00 0.01
023135BW5 AMAZON.COM INC 0.45 05/12/2024 1,542,500.00 05/10/2021

0.50%
1,540,247.95
1,542,415.75

99.41 5.66%
1,533,386.03
2,680.09

0.48%
(9,029.72)
A1/AA
AA0.110.12
931142EL3 WALMART INC 2.85 07/08/2024 4,100,000.00 05/12/2020

0.93%
4,418,693.00
4,114,583.53

99.30 5.43%
4,071,503.44
26,940.42

1.27%
(43,080.09)
Aa2/AA
AA

0.27 0.27
99 ATTACHMENT A 126

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
91159HHX1 US BANCORP 2.4 07/30/2024 1,650,000.00 08/01/2019

2.38%
1,651,369.50
1,650,067.37

98.94 5.61%
1,632,550.47
6,710.00

0.51%
(17,516.89)
A3/A
A

0.33 0.33
24422EVY2 JOHN DEERE CAPITAL CORP 1.25
01/10/2025 2,357,500.00 03/08/20222.16%
2,298,067.42
2,341,223.38

96.94 5.33%
2,285,413.54
6,630.47

0.71%
(55,809.84)
A1/A
A+

0.78 0.76
594918BB9 MICROSOFT CORP 2.7 02/12/2025 2,675,000.00 03/04/2021

0.77%
2,863,881.75
2,706,597.32

97.96 5.15%
2,620,308.80
9,830.62

0.82%
(86,288.52)
Aaa/AAA
WR

0.87 0.84
89236TGT6 TOYOTA MOTOR CREDIT CORP 1.8
02/13/2025 1,887,500.00 05/20/2020

1.59%
1,905,940.87
1,890,889.71

97.03 5.35%
1,831,511.41
4,530.00

0.57%
(59,378.30)
A1/A+
A+

0.87 0.84
66989HAP3 NOVARTIS CAPITAL CORP 1.75
02/14/2025 3,680,000.00 05/08/2020

0.99%
3,809,756.80
3,701,879.37

97.11 5.19%
3,573,732.53
8,407.78

1.12%
(128,146.84)
Aa3/AAAA0.88

0.85 023135CE4 AMAZON.COM INC 3.0 04/13/2025 2,567,500.00 04/11/2022

3.05%
2,563,417.67
2,566,095.77

97.92 5.09%
2,514,041.67
35,945.00

0.79%
(52,054.10)
A1/AA
AA1.040.99
172967MX6 CITIGROUP INC 0.981 05/01/2025 1,355,000.00 --

0.98%
1,355,119.25
1,355,003.26

99.56 6.24%
1,349,065.49
5,538.56

0.42%
(5,937.76)
A3/BBB+
A

1.08 0.09
38148LAE6 GOLDMAN SACHS GROUP INC 3.75
05/22/2025 1,817,500.00 02/12/20210.80%
2,030,474.65
1,865,005.26

98.14 5.45%
1,783,654.86
24,422.66

0.56%
(81,350.40)
A2/BBB+
A

1.14 1.09
438516CB0 HONEYWELL INTERNATIONAL INC

1.35 06/01/2025 2,000,000.00 09/03/20210.81%
2,039,160.00
2,011,621.49

95.83 5.07%
1,916,617.78
9,000.00

0.60%
(95,003.71)
A2/A
A

1.17 1.13
46647PCM6 JPMORGAN CHASE & CO 0.768
08/09/2025 1,680,000.00 08/03/20210.77%
1,680,000.00
1,680,000.00

98.11 6.19%
1,648,280.54
1,863.68

0.51%
(31,719.46)
A1/AAA1.36

0.35 63743HFF4

NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP 5.45
10/30/2025
3,000,000.00 10/31/2022

5.26%
3,015,750.00
3,008,314.50
100.34

5.22%
3,010,078.77
68,579.17

0.94%
1,764.27
A2/AA1.58

1.47 857477BR3 STATE STREET CORP 1.746
02/06/2026 437,500.00 02/02/2022

1.75%
437,500.00
437,500.00

96.66 5.84%
422,878.07
1,167.03

0.13%
(14,621.93)
A1/A
AA1.850.82
06051GKM0 BANK OF AMERICA CORP 3.384
04/02/2026 1,875,000.00 03/17/20223.38%
1,875,000.00
1,875,000.00

97.81 5.66%
1,833,877.65
31,548.75

0.57%
(41,122.35)
A1/AAA2.01

0.96 6174468Q5 MORGAN STANLEY 2.188
04/28/2026 2,200,000.00 08/24/20224.62%
2,072,268.00
2,145,980.27

96.48 5.61%
2,122,453.26
20,457.80

0.66%
(23,527.01)
A1/AA+2.08

1.03 91324PEC2 UNITEDHEALTH GROUP INC 1.15
05/15/2026 4,000,000.00 09/19/20224.16%
3,592,560.00
3,763,244.32

92.49 4.92%
3,699,795.36
17,377.78

1.16%
(63,448.96)
A2/A+
A

2.12 2.05
87612EBM7 TARGET CORP 1.95 01/15/2027 2,140,000.00 --

1.97%
2,137,844.40
2,138,792.38

92.95 4.67%
1,989,189.58
8,809.67

0.62%
(149,602.80)
A2/A
A

2.79 2.65
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 3,500,000.00 01/23/20234.35%
3,251,955.00
3,323,487.34

93.19 4.98%
3,261,609.16
6,669.44

1.02%
(61,878.18)
A2/AA2.92

2.76 100
ATTACHMENT A 127

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 2,200,000.00 08/24/20223.93%
2,206,402.00
2,204,187.09

97.42 4.90%
2,143,324.48
34,466.67

0.67%
(60,862.61)
A2/A+
A+

3.11 2.84
92826CAH5 VISA INC 2.75 09/15/2027 4,000,000.00 03/27/2024

4.57%
3,769,760.00
3,770,487.46

93.99 4.65%
3,759,679.28
4,888.89

1.17%
(10,808.18)
Aa3/AANA3.46

3.24 74340XBV2 PROLOGIS LP 3.375 12/15/2027 3,000,000.00 01/25/2023

4.28%
2,881,530.00
2,910,101.00

94.90 4.90%
2,847,006.57
29,812.50

0.89%
(63,094.43)
A3/A
NA

3.71 3.39
24422EWR6 JOHN DEERE CAPITAL CORP 4.75
01/20/2028 2,000,000.00 01/20/2023

4.35%
2,035,920.00
2,027,383.58
100.21

4.69%
2,004,266.00
18,736.11

0.63%
(23,117.58)
A1/A
A+

3.81 3.42
713448FL7 PEPSICO INC 3.6 02/18/2028 2,000,000.00 04/27/2023

4.00%
1,964,920.00
1,971,688.42

96.60 4.57%
1,931,937.66
8,600.00

0.60%
(39,750.76)
A1/A+
NA

3.89 3.56
61747YER2 MORGAN STANLEY 4.21 04/20/2028 1,800,000.00 07/31/2023

5.39%
1,729,026.00
1,741,821.17

97.17 5.22%
1,749,116.61
33,890.50

0.55%
7,295.44
A1/AA+4.05

2.77 58933YBH7 MERCK & CO INC 4.05 05/17/2028 2,000,000.00 --

4.03%
2,001,621.20
2,001,330.36

98.30 4.50%
1,966,025.36
30,150.00

0.61%
(35,305.00)
A1/A+
NA

4.13 3.70
46647PAM8 JPMORGAN CHASE & CO 3.509
01/23/2029 3,000,000.00 02/27/20245.19%
2,823,480.00
2,827,446.74

94.59 5.09%
2,837,797.38
19,884.33

0.89%
10,350.64
A1/AAA4.82

3.48 69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029 3,600,000.00 01/29/20244.52%
3,612,132.00
3,611,726.94

99.33 4.75%
3,575,998.30
28,060.00

1.12%
(35,728.64)
A1/A+
NA

4.84 4.26
17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029 3,000,000.00 02/27/20244.84%
3,001,560.00
3,001,532.16
100.74

4.68%
3,022,144.32
14,145.83

0.94%
20,612.16
A1/AANA4.91

4.30 Total Corporate 73,190,000.00 3.15%
72,759,738.71
72,310,405.92

97.15 5.06%
71,062,244.36
555,603.13

22.20%
(1,248,161.56)
A1/A
A+

2.31 1.97

MONEY MARKET
FUND
60934N104 FEDERATED HRMS GV O INST 290,509.56 --

5.17%
290,509.56
290,509.56

1.00 5.17%
290,509.56

0.00 0.09%

0.00 Aaa/
AAAm
AA

0.00 0.00
Total Money
Market Fund 290,509.56 5.17%
290,509.56
290,509.56

1.00 5.17%
290,509.56

0.00 0.09%

0.00 Aaa/
AAAm
AA

0.00 0.00

MUNICIPAL
BONDS
574193TQ1 MARYLAND ST 0.51 08/01/2024 647,500.00 07/23/2020

0.52%
647,318.70
647,484.82

98.41 5.36%
637,198.28
550.38

0.20%
(10,286.54)
Aaa/AAA
AAA

0.34 0.33
101
ATTACHMENT A 128

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
797272QP9 SAN DIEGO CALIF CMNTY COLLEGE 725,000.00 09/18/2019 725,000.00 98.92 717,141.00 0.22% Aa1/AAA 0.34 DIST 2.046 08/01/2024 2.05% 725,000.00 5.34% 2,472.25 (7,859.00) NA 0.33 13077DNC2 CALIFORNIA ST UNIV REV 0.685 625,000.00 08/27/2020 625,000.00 97.33 608,318.75 0.19% Aa2/AA- 0.59 11/01/2024 0.68% 625,000.00 5.39% 1,783.85 (16,681.25) NA 0.57 13067WRB0 CALIFORNIA ST DEPT WTR RES CENT 77,500.00 07/30/2020 77,500.00 97.03 75,199.02 0.02% Aa1/AAA 0.67 VY PROJ REV 0.56 12/01/2024 0.56% 77,500.00 5.15% 144.67 (2,300.98) NA 0.65 91412HGE7 UNIVERSITY CALIF REVS 0.883 760,000.00 07/10/2020 760,000.00 95.58 726,423.20 0.23% Aa2/AA 1.12 05/15/2025 0.88% 760,000.00 4.98% 2,535.19 (33,576.80) AA 1.09 341271AD6 FLORIDA ST BRD ADMIN FIN CORP 1,875,000.00 09/03/2020 1,882,423.50 95.34 1,787,568.75 0.56% Aa3/AA 1.25 REV 1.258 07/01/2025 1.17% 1,876,921.18 5.16% 5,896.88 (89,352.43) AA 1.21 54438CYK2 LOS ANGELES CALIF CMNTY 965,000.00 10/30/2020 965,000.00 94.69 913,748.85 0.29% Aaa/AA+ 1.34 COLLEGE DIST 0.773 08/01/2025 0.77% 965,000.00 4.94% 1,243.24 (51,251.15) NA 1.30 646140DP5 NEW JERSEY ST TPK AUTH TPK REV 557,500.00 01/22/2021 557,500.00 93.65 522,115.48 0.16% A1/AA- 1.76

1.047 01/01/2026 1.05% 557,500.00 4.87% 1,459.26 (35,384.52) A+ 1.70 Total Municipal 6,239,742.20 96.10 5,987,713.32 1.87% Aa2/AA 1.01 Bonds 6,232,500.00 1.04% 6,234,406.00 5.14% 16,085.71 (246,692.67) AA 0.98

NEGOTIABLE CD
96130AWR5 Westpac Banking Corporation - New 6,000,000.00 03/22/2024 6,000,953.46 99.98 5,999,094.00 1.87% P-1/A-1+ 0.95 York Branch 5.32 03/14/2025 5.30% 6,000,926.75 5.30% 12,413.33 (1,832.75) NA 0.92 Total Negotiable 03/22/2024 6,000,953.46 99.98 5,999,094.00 1.87% P-1/A-1+ 0.95 CD 6,000,000.00 5.30% 6,000,926.75 5.30% 12,413.33 (1,832.75) NA 0.92

SUPRANATIONAL
4581X0DZ8 INTER-AMERICAN DEVELOPMENT 4,190,000.00 09/15/2021 4,186,899.40 97.71 4,093,941.53 1.28% Aaa/AAA 0.48 BANK 0.5 09/23/2024 0.52% 4,189,504.92 5.42% 465.56 (95,563.40) NA 0.47 Total 09/15/2021 4,186,899.40 97.71 4,093,941.53 1.28% Aaa/AAA 0.48 Supranational 4,190,000.00 0.52% 4,189,504.92 5.42% 465.56 (95,563.40) NA 0.47

US TREASURY
912828X70 UNITED STATES TREASURY 2.0 2,257,500.00 06/03/2019 2,267,729.29 99.73 2,251,407.89 0.70% Aaa/AA+ 0.08 04/30/2024 1.91% 2,257,665.63 5.24% 18,977.88 (6,257.75) AA+ 0.09 9128282U3 UNITED STATES TREASURY 1.875 7,137,500.00 -- 7,335,869.62 98.58 7,036,431.86 2.20% Aaa/AA+ 0.42 08/31/2024 1.29% 7,154,625.36 5.35% 11,637.23 (118,193.51) AA+ 0.41 91282CCX7 UNITED STATES TREASURY 0.375 1,577,500.00 10/04/2021 1,571,769.24 97.83 1,543,207.86 0.48% Aaa/AA+ 0.46 09/15/2024 0.50% 1,576,609.73 5.25% 273.28 (33,401.87) AA+ 0.45 102
ATTACHMENT A 129

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
9128283J7 UNITED STATES TREASURY 2.125
11/30/2024 5,457,500.00 --1.67%
5,578,317.09
5,473,769.49

97.98 5.25%
5,347,177.51
38,974.15

1.67%
(126,591.98)
Aaa/AA+
AA+

0.67 0.65
912828ZC7 UNITED STATES TREASURY 1.125
02/28/2025 4,472,500.00 08/19/20210.53%
4,565,793.56
4,496,601.44

96.49 5.09%
4,315,656.76
4,375.27

1.35%
(180,944.68)
Aaa/AA+
AA+

0.91 0.89
912828ZL7 UNITED STATES TREASURY 0.375
04/30/2025 2,997,500.00 04/05/20210.70%
2,958,391.99
2,987,116.88

95.18 5.01%
2,853,011.15
4,724.77

0.89%
(134,105.73)
Aaa/AA+
AA+

1.08 1.06
912828ZW3 UNITED STATES TREASURY 0.25
06/30/2025 1,597,500.00 10/04/2021

0.70%
1,571,103.81
1,588,688.36

94.41 4.92%
1,508,139.84
1,009.41

0.47%
(80,548.52)
Aaa/AA+
AA+

1.25 1.22
91282CAJ0 UNITED STATES TREASURY 0.25
08/31/2025 8,820,000.00 --

0.56%
8,710,250.00
8,781,766.29

93.76 4.87%
8,269,439.02
1,917.39

2.58%
(512,327.27)
Aaa/AA+
AA+

1.42 1.38
91282CAT8 UNITED STATES TREASURY 0.25
10/31/2025 3,500,000.00 10/04/20210.78%
3,425,898.44
3,471,177.19

93.15 4.80%
3,260,195.33
3,677.88

1.02%
(210,981.86)
Aaa/AA+
AA+

1.59 1.55
91282CAZ4 UNITED STATES TREASURY 0.375
11/30/2025 6,772,500.00 --0.93%
6,619,508.79
6,710,495.02

93.04 4.77%
6,300,805.94
8,535.02

1.97%
(409,689.08)
Aaa/AA+
AA+

1.67 1.63
91282CGA3 UNITED STATES TREASURY 4.0
12/15/2025 5,000,000.00 01/23/20244.42%
4,962,109.38
4,965,838.12

98.77 4.76%
4,938,476.55
59,016.39

1.54%
(27,361.57)
Aaa/AA+
AA+

1.71 1.62
91282CBC4 UNITED STATES TREASURY 0.375
12/31/2025 3,100,000.00 01/11/20210.49%
3,082,199.22
3,093,732.95

92.75 4.74%
2,875,250.00
2,938.19

0.90%
(218,482.95)
Aaa/AA+
AA+

1.75 1.71
9128286A3 UNITED STATES TREASURY 2.625
01/31/2026 1,707,500.00 02/04/20210.46%
1,890,055.76
1,774,630.82

96.40 4.69%
1,646,003.33
7,511.36

0.51%
(128,627.50)
Aaa/AA+
AA+

1.84 1.76
91282CBH3 UNITED STATES TREASURY 0.375
01/31/2026 17,305,000.00 --

0.79%
16,971,456.65
17,175,503.46

92.46 4.71%
15,999,689.21
10,875.05

5.00%
(1,175,814.25)
Aaa/AA+
AA+

1.84 1.79
91282CBQ3 UNITED STATES TREASURY 0.5
02/28/2026 12,670,000.00 --

0.94%
12,437,181.06
12,566,580.93

92.43 4.68%
11,710,346.45
5,508.70

3.66%
(856,234.48)
Aaa/AA+
AA+

1.91 1.87
91282CCF6 UNITED STATES TREASURY 0.75
05/31/2026 8,320,000.00 --0.80%
8,301,545.71
8,311,998.41

92.13 4.61%
7,665,124.98
20,970.49

2.39%
(646,873.43)
Aaa/AA+
AA+

2.17 2.10
91282CCZ2 UNITED STATES TREASURY 0.875
09/30/2026 3,700,000.00 04/05/20222.75%
3,406,746.09
3,536,623.36

91.52 4.50%
3,386,222.65

88.46 1.06%
(150,400.71)
Aaa/AA+
AA+

2.50 2.41
912828V98 UNITED STATES TREASURY 2.25
02/15/2027 2,650,000.00 09/30/2022

4.06%
2,458,185.55
2,524,043.05

94.14 4.44%
2,494,726.56
7,535.03

0.78%
(29,316.48)
Aaa/AA+
AA+

2.88 2.73
91282CBJ9 UNITED STATES TREASURY 0.75
01/31/2028 540,000.00 03/14/20222.14%
498,382.03
512,874.70

87.49 4.32%
472,457.82
678.71

0.15%
(40,416.88)
Aaa/AA+
AA+

3.84 3.70
91282CCY5 UNITED STATES TREASURY 1.25
09/30/2028 525,000.00 03/14/20222.16%
495,591.79
504,791.85

87.74 4.27%
460,625.98

17.93 0.14%
(44,165.87)
Aaa/AA+
AA+

4.50 4.26
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 7,000,000.00 03/27/20244.20%
6,940,117.19
6,940,252.52

98.97 4.24%
6,927,812.50
46,923.08

2.16%
(12,440.02)
Aaa/AA+
AA+

4.84 4.33
103
ATTACHMENT A 130

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
9128286B1 UNITED STATES TREASURY 2.625
02/15/2029 6,500,000.00 --4.08%
6,047,519.53
6,091,259.13

92.89 4.25%
6,038,144.52
21,562.50

1.89%
(53,114.61)
Aaa/AA+
AA+

4.88 4.49
912828YB0 UNITED STATES TREASURY 1.625
08/15/2029 520,000.00 03/21/20222.29%
496,518.75
502,955.90

87.77 4.19%
456,401.56
1,067.86

0.14%
(46,554.34)
Aaa/AA+
AA+

5.38 5.04
91282CGJ4 UNITED STATES TREASURY 3.5
01/31/2030 6,000,000.00 --3.96%
5,847,578.13
5,862,720.79

96.23 4.24%
5,773,593.72
35,192.31

1.80%
(89,127.07)
Aaa/AA+
AA+

5.84 5.18
912828Z94 UNITED STATES TREASURY 1.5
02/15/2030 542,500.00 04/06/20222.65%
498,040.43
509,221.23

85.97 4.22%
466,401.66
1,028.37

0.15%
(42,819.57)
Aaa/AA+
AA+

5.88 5.50
91282CAE1 UNITED STATES TREASURY 0.625
08/15/2030 587,500.00 04/06/20222.63%
498,755.37
519,747.78

80.08 4.22%
470,481.93
464.03

0.15%
(49,265.85)
Aaa/AA+
AA+

6.38 6.11
91282CBL4 UNITED STATES TREASURY 1.125
02/15/2031 565,000.00 04/06/20222.62%
498,104.88
513,027.95

82.00 4.16%
463,322.07
803.26

0.14%
(49,705.88)
Aaa/AA+
AA+

6.88 6.46
912810FP8 UNITED STATES TREASURY 5.375
02/15/2031 4,500,000.00 11/29/20234.23%
4,817,988.28
4,803,139.17
107.36

4.13%
4,831,347.64
30,566.62

1.51%
28,208.48
Aaa/AA+
AA+

6.88 5.73
91282CCS8 UNITED STATES TREASURY 1.25
08/15/2031 562,500.00 04/06/20222.62%
498,515.62
512,032.39

81.46 4.20%
458,195.80
888.56

0.14%
(53,836.59)
Aaa/AA+
AA+

7.38 6.87
91282CFV8 UNITED STATES TREASURY 4.125
11/15/2032 6,000,000.00 --3.72%
6,197,734.38
6,173,831.01

99.32 4.22%
5,958,984.36
93,832.42

1.86%
(214,846.65)
Aaa/AA+
AA+

8.63 7.08
91282CHT1 UNITED STATES TREASURY 3.875
08/15/2033 6,500,000.00 --4.73%
6,069,570.31
6,088,056.00

97.34 4.22%
6,327,343.75
31,830.36

1.98%
239,287.75
Aaa/AA+
AA+

9.38 7.73
Total US Treasury 139,385,000.00 2.05%
137,518,527.94
137,981,376.92

95.22 4.66%
132,506,426.20
473,401.94

41.40%
(5,474,950.73)
Aaa/AA+
AA+

3.05 2.74
Total Portfolio 333,842,727.02 2.51%
329,785,563.54
330,051,654.14

94.99 4.81%
320,058,206.83
1,370,282.84
100.00%
(9,993,447.32)
Aa2/AAAA2.88

2.49 Total Market
Value + Accrued 321,428,489.67
104
ATTACHMENT A 131
SECTION | Section 4 | Transactions
105
ATTACHMENT A 132

TRANSACTION LEDGER
City of Stockton Reserve | Account #10020 | As of March 31, 2024 Execution time: 04/15/2024 23:6:16 [email protected] | www.chandlerasset.com | 800.317.4747 CONFIDENTIAL | 38 Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount InterestPur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 01/24/2024 91282CGA3 5,000,000.00 UNITED STATES TREASURY 4.0 12/15/2025

99.242 4.42% 4,962,109.38 (21,857.92) (4,983,967.30) 0.00 Purchase 01/31/2024 69371RS80 3,600,000.00 PACCAR FINANCIAL CORP 4.6 01/31/2029
100.337 4.52% 3,612,132.00 0.00 (3,612,132.00) 0.00
Purchase 02/29/2024 17275RBR2 3,000,000.00 CISCO SYSTEMS INC 4.85 02/26/2029
100.052 4.84% 3,001,560.00 (1,212.50) (3,002,772.50) 0.00 Purchase 02/29/2024 46647PAM8 3,000,000.00 JPMORGAN CHASE & CO 3.509 01/23/2029

94.116 5.19% 2,823,480.00 (10,527.00) (2,834,007.00) 0.00 Purchase 03/22/2024 96130AWR5 6,000,000.00 Westpac Banking Corporation - New York Branch 5.32
03/14/2025
100.016 5.30% 6,000,953.46 (3,546.67) (6,004,500.13) 0.00 Purchase 03/28/2024 91282CJW2 7,000,000.00 UNITED STATES TREASURY 4.0 01/31/2029

99.145 4.20% 6,940,117.19 (43,846.15) (6,983,963.34) 0.00 Purchase 03/28/2024 92826CAH5 4,000,000.00 VISA INC 2.75 09/15/2027 94.244 4.57% 3,769,760.00 (3,972.22) (3,773,732.22) 0.00 Total Purchase 31,600,000.00 31,110,112.03 (84,962.46) (31,195,074.49) 0.00 TOTAL
ACQUISITIONS 31,600,000.00 31,110,112.03 (84,962.46) (31,195,074.49) 0.00

DISPOSITIONS
Sale 01/30/2024 9128282N9 (1,250,000.00) UNITED STATES TREASURY

2.125 07/31/2024

98.527 5.13% (1,231,591.80) (13,209.07) 1,244,800.87 (22,377.37) Sale 01/30/2024 91282CBV2 (1,570,000.00) UNITED STATES TREASURY

0.375 04/15/2024

98.988 5.29% (1,554,116.02) (1,721.21) 1,555,837.23 (15,813.21) Sale 02/28/2024 9128283D0 (1,700,000.00) UNITED STATES TREASURY 2.25 10/31/2024

98.078 5.20% (1,667,328.13) (12,609.89) 1,679,938.02 (40,176.36) Sale 03/28/2024 912828XX3 (4,690,000.00) UNITED STATES TREASURY 2.0 06/30/2024

99.129 5.39% (4,649,145.70) (22,676.92) 4,671,822.62 (43,346.83) Sale 03/28/2024 91282CBC4 (3,300,000.00) UNITED STATES TREASURY

0.375 12/31/2025

92.816 4.68% (3,062,941.41) (2,991.76) 3,065,933.17 (230,345.45) 106
ATTACHMENT A 133

TRANSACTION LEDGER
City of Stockton Reserve | Account #10020 | As of March 31, 2024 Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount InterestPur/Sold Total Amount Gain/Loss Sale 03/28/2024 91282CCT6 (3,010,000.00) UNITED STATES TREASURY

0.375 08/15/2024

98.145 5.30% (2,954,150.39) (1,302.40) 2,955,452.79 (55,336.62) Total Sale (15,520,000.00) (15,119,273.45) (54,511.25) 15,173,784.70 (407,395.83) Maturity 01/11/2024 912797GC5 (5,000,000.00) UNITED STATES TREASURY01/11/2024
100.000 0.00% (5,000,000.00) 0.00 5,000,000.00 0.00
Maturity 02/05/2024 91159HHV5 (1,062,500.00) US BANCORP 3.375 02/05/2024
100.000 0.00% (1,062,500.00) 0.00 1,062,500.00 0.00
Maturity 02/29/2024 9128286G0 (1,709,500.00) UNITED STATES TREASURY

2.375 02/29/2024
100.000 0.00% (1,709,500.00) 0.00 1,709,500.00 0.00
Maturity 03/07/2024 58933YAU9 (2,312,500.00) MERCK & CO INC 2.9 03/07/2024
100.000 0.00% (2,312,500.00) 0.00 2,312,500.00 0.00
Maturity 03/15/2024 717081ES8 (3,200,000.00) PFIZER INC 2.95 03/15/2024 100.000 0.00% (3,200,000.00) 0.00 3,200,000.00 0.00 Maturity 03/31/2024 912828W71 (2,965,000.00) UNITED STATES TREASURY

2.125 03/31/2024
100.000 0.00% (2,965,000.00) 0.00 2,965,000.00 0.00
Total Maturity (16,249,500.00) (16,249,500.00) 0.00 16,249,500.00 0.00 TOTAL
DISPOSITIONS (31,769,500.00) (31,368,773.45) (54,511.25) 31,423,284.70 (407,395.83) 107
ATTACHMENT A 134
Important Disclosures
2024 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

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

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

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

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

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

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

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

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

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

As of March 31, 2024
108
ATTACHMENT A 135
Benchmark Disclosures
ICE BofA 3-Month US Treasury Bill Index
The ICE BofA US 3-Month Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. At the end of the month that issue is sold and rolled into a newly selected issue. The issue selected at each month-end rebalancing is the outstanding Treasury Bill that matures closest to, but not beyond, three months from the rebalancing date.

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 March 31, 2024
109
ATTACHMENT A 136
ATTACHMENT B 137
City of Stockton
Legislation Text
File #: 24-0566, Version: 1

ADOPT A RESOLUTION APPOINTING A MEMBER TO THE MEASURE W OVERSIGHT

COMMITTEE

RECOMMENDATION
It is recommended that the City Council adopt a resolution ratifying the appointment to the Measure W Committee of Anthony Sprague for a partial term commencing immediately and ending on January 31, 2025

DISCUSSION
Background
The Measure W Oversight Committee was established April 26, 2005, by City Council Resolution 05- 0171 pursuant to the Stockton Safe Neighborhood Gang and Drug Prevention Police/Fire Response Measure Program Guidelines. The Committee is tasked with insuring that monies received from the sales and use tax enacted based on Measure W are being spent in accordance with the requirements outlined in the Measure. The Committee considers oral reports by City staff and other involved persons concerning the use of Measure W monies, reviews the annual audit and adopts an annual report which is presented to the City Council.

Eligibility Requirements
Members who desire to serve on this committee must reside within the City’s geographic boundary and not be an employee, vendor, contractor, or consultant actively conducting business with the City.

After appointment to the committee, members must complete a Statement of Economic Interest form 700 within 30 days of appointment. Terms of service are for two years, and members shall serve no more than two terms.

Present Situation
Mayor Lincoln has reviewed applications and made the following nomination for appointment:

Mayor Lincoln, At Large - Anthony Sprague
Upon Council adoption their term will be effective immediately and will complete what will be considered a partial term on January 31, 2025.

FINANCIAL SUMMARY
There is no direct fiscal impact with this appointment as the members of this committee receive no remuneration.

City of Stockton Page 1 of 2 Printed on 5/30/2024
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138
File #: 24-0566, Version: 1
Attachment A - Redacted Application
City of Stockton Page 2 of 2 Printed on 5/30/2024
powered by Legistar™
139
Submit Date: Oct 23, 2023
Email Address
First Name Last Name
Street Address
City State Postal Code
Primary Phone Alternate Phone
Employer Job Title Occupation
Application for appointment and background information for City of Stockton Boards, Commissions, and Committees
Profile
Ethnicity
Gender
What district do you live in? *
District 6
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
Employer Address
Anthony Sprague
Stockton CA
Anthony Sprague
ATTACHMENT A 140
Are you currently serving on a City of Stockton Board, Commission, or Committee?
Yes No
Which Boards would you like to apply for?
Measure W Oversight Committee: Submitted
Question applies to multiple boards
NOTE: This Board requires membership with one of the following groups. If none, please remove board from your application. Are you knowledgeable, have experience in, or extensive background in any of the following areas? Select all that apply. *
Active in community activities significant enough to confirm knowledge of issues and individuals within the community
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
Interests & Experiences
Anthony Sprague
ATTACHMENT A 141
Upload a Resume
Please tell us about yourself and why you want to serve.

My main concern is PUBLIC SAFETY in Stockton and Weston Ranch. I admin a Facebook page Weston Ranch Crime Watch https://www.facebook.com/groups/1225186125054652, I am very aware of what happens in the community. I have a strong relationship with all the retail vendors in District 6, I have interviewed and visited them all personally to get the story and history of their interactions with law enforcement and fire in terms of services and their input on how we can improve the communication. I regularly attend the city council meeting and all the police and county meetings in Weston Ranch, I led the effort in getting the Big Box Band repealed after 17 years on the books here in Stockton. My interest is specifically focused on Public Safety in Stockton and improving the quality of life and safety for all Stockton residents. .

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

I am familiar with working in city government in the past. I am already involved in the community, helping bridge the information gap between the public and SPD, I am also a VERY STRONG advocate for law enforcement and understand those challenges from the inside out. Lastly I would like to see, help, finance the addition of police and firefighters to the force in Stockton. To ensure the funds available have the max returns for our first responders and if possible return some of the benefits lost to SPD and SFD during the budget cuts, i.e. medical, pensions, special duty pay etc. through the effective use of Measure W and Measure A funds.

Have you served on an advisory group before?
Yes No
How did you hear about the position?
Was looking for the Measure A board member but it is full at the moment.

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
Anthony Sprague
ATTACHMENT A 142
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
Enter Your Initials:

ADS
Date Signed
10/23/2023
Anthony Sprague
ATTACHMENT A 143
Resolution No.

STOCKTON CITY COUNCIL

RESOLUTION APPOINTING A MEMBER TO THE MEASURE W OVERSIGHT

COMMITTEE
Positions on the Measure W Oversight Committee are directly appointed by City Councilmembers with terms that coincide with the appointing Councilmember; and Mayor Lincoln has reviewed applications and will appoint Anthony Sprague to the Measure W Oversight Committee to a term commencing immediately; now, therefore,

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

1. Anthony Sprague is found to meet the criteria for appointment and is authorized to serve as a member on the Measure W Oversight Committee with an appointment to commence immediately and end January 31, 2025.

PASSED, APPROVED and ADOPTED June 4, 2024 .

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

KATHERINE ROLAND, CMC, CPMC
Interim City Clerk, City of Stockton
144
City of Stockton
Legislation Text
File #: 24-0569, Version: 1
ADOPT A RESOLUTION APPOINTING A MEMBER OF THE MEASURE A CITIZENS’ ADVISORY

COMMITTEE

RECOMMENDATION
It is recommended that the City Council adopt a resolution ratifying the appointment of Daniel Offield to the Measure A Citizens’ Advisory Committee for a term beginning immediately upon appointment and ending January 31, 2027.

DISCUSSION
Background
On July 9, 2013, the Stockton City Council adopted Resolution 2013-07-09-1601 calling for a special election and Ordinance 2013-07-09-1601 establishing the 3/4 cent sales tax and authorizing the formation of a Citizens’ Advisory Committee through Ordinance 2013-07-09-1601 contingent upon voter consideration and approval at the November 5, 2013, special election. Upon the passage of Measure A and Advisory Measure B on November 5, 2013, the City Council adopted the City of Stockton Transaction and Use Tax Ordinance Citizens’ Advisory Committee Charter detailing the role and duties of the Citizens’ Advisory Committee. Each member of the City Council, including the Mayor, shall nominate one member to the Committee. The members nominated are not required to be from specific Council Districts.

At the regular Council meeting of December 3, 2013, the Council approved staff’s recommendation to include the term of service for the Advisory Committee members in the Committee Charter. The staff recommendation adopted by motion action was to have the terms of the Advisory Committee Members coincide with the term of each appointing Councilmember.

Present Situation
Councilmember Padilla reviewed the active applications on file. In accordance with the provisions of Ordinance 2013-07-09-1601 and the City of Stockton Transaction and Use Tax Ordinance Citizens’ Advisory Committee Charter, Councilmember Padilla is nominating Daniel Offield to the Measure A Citizens’ Advisory Committee to fill the remaining term, beginning immediately and ending January 31, 2027.

FINANCIAL SUMMARY
There is no financial impact to the General Fund.

Attachment A - Redacted Application
City of Stockton Page 1 of 1 Printed on 5/30/2024
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145
Submit Date: Oct 02, 2023
Email Address
First Name Middle
Initial
Last Name
Street Address
City State Postal Code
Primary Phone Alternate Phone
Employer Job Title Occupation
Application for appointment and background information for City of Stockton Boards, Commissions, and Committees
Profile
Ethnicity
Gender
What district do you live in? *
Other
I declare under penalty of disqualification/termination that I have been a resident at the above address for years/months?
since 2005
The City of Stockton uses email as the preferred method of communication regarding your application. Is this acceptable to you?
Yes No
Employer Address
Daniel J Offield
Stockton CA
Daniel J Offield
Attachment A 146
Are you currently serving on a City of Stockton Board, Commission, or Committee?
Yes No
Which Boards would you like to apply for?
Measure A Citizens' Advisory Committee: Submitted
Question applies to multiple boards
NOTE: This Board requires membership with one of the following groups. If none, please remove board from your application. Are you knowledgeable, have experience in, or extensive background in any of the following areas? Select all that apply. *
Active in community activities significant enough to confirm knowledge of issues and individuals within the community
I have been a resident of Stockton for at least 3 years.

Yes No
Interests & Experiences
Please tell us about yourself and why you want to serve.

Retired Special Agent US Dept. of Justice, currently owner of Quail Lakes Community Counseling, licensed marriage and Family Therapist, Supervisor to 18 employees and therapist. Licensed Real Estate Agent, Licensed Private Investigator. Current member of Morada Area Commission. Interested in general city issues to include recruitment and retention of police officers.

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

Measure A is an integral funding source for the city's ongoing solvency and retention and recruitment of police officers. I am knowledgeable both in understanding complex financial issues as well as law enforcement issues with some 30 years of experience in both. Believe I would be a valuable asset to insuring Measure A funds are utilized in a manner benefitting the citizens of Stockton.

Daniel J Offield
Attachment A 147
Have you served on an advisory group before?
Yes No
How did you hear about the position?
Online search
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
Enter Your Initials:
djo
Date Signed
10/2/2023
Daniel J Offield
Attachment A 148
Resolution No.

STOCKTON CITY COUNCIL
RESOLUTION APPOINTING ONE MEMBER TO THE MEASURE A CITIZENS’

ADVISORY COMMITTEE
A vacancy exists on the Measure A Citizens’ Advisory Committee due to the term ending of the District 1 Appointee, Eric Smith Jr. and
Having reviewed the active applications on file, Councilmember Padilla has nominated Daniel Offield to fill the vacancy; now, therefore,

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

1. Eric Smith is hereby appointed to the Measure A Citizens’ Advisory Committee, for a term effective immediately, and ending on January 31, 2027.

PASSED, APPROVED, and ADOPTED June 4, 2024 .

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

KATHERINE ROLAND, CMC, CPMC
Interim City Clerk, City of Stockton
149
City of Stockton
Legislation Text
File #: 24-0577, Version: 1

NOMINEES FOR THE CALIFORNIA CORRECTIONAL HEALTH CARE SERVICES FACILITY CITIZENS’ ADVISORY COMMITTEE

RECOMMENDATION
It is recommended that the City Council approve a motion to nominate Dharma Arokiadass and Danielle Hibbitts to the California Correctional Health Care Services Advisory Committee (CAC), for selection by the Warden of the California Department of Corrections and Rehabilitation (CDCR).

Summary
There are currently two vacancies on the CAC. If the nominees are approved this evening, the City Clerk will forward the list of nominees to the Facility for consideration to serve on the CAC for terms beginning immediately upon warden approval and ending on July 1, 2026.

DISCUSSION
Background
On October 17, 2012, the City was notified by Facility’s Chief Executive Officer Lawrence Fong of the scheduled opening of the Facility in July 2013. In preparation for the opening, the CDCR and California Correctional Health Care Services established the CAC as mandated by Penal Code section 5056 and CDCR’s DOM section 101090.11.3. The mandate includes that two persons be appointed from nominations submitted by the City of Stockton, the city nearest to the Institution.

Appointments to the 12-member CAC are made by the Warden of the CDCR Facility from the nominations submitted by the City Council, the Greater Stockton Chamber of Commerce, the Board of Supervisors, the Chief of Police, the Assembly Member, the Senator in whose district the prison is located, and others.

The CAC’s function is to: 1) Improve the public’s understanding of correctional programs, 2) Influence correctional directions, and 3) Suggest means to improve and participate in inmate programming.

Members serve for a two-year term and may be nominated and reappointed to succeeding terms.

The CAC held its first meeting on April 25, 2013 and was scheduled to meet at least once every two months thereafter, or as necessary to carry out the purposes and duties of the CAC.

Present Situation
Due to term expirations, there are currently two vacancies on this committee. The names of potential appointees are reviewed by the Mayor and submitted to the City Council approval. After Council approval, the nominees will be submitted to the CDCR Warden for consideration and final selection.

The Mayor has recommended that Council submit the names of Dharma Arokiadass and Danielle City of Stockton Page 1 of 2 Printed on 5/30/2024
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Hibbitts as the City of Stockton recommendations to the Warden.

FINANCIAL SUMMARY
There is no direct financial impact on the City of Stockton.

Attachment A - Redacted Applications
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Submit Date: Nov 04, 2023
Email Address
First Name Last Name
Street Address
City State Postal Code
Primary Phone Alternate Phone
Employer Job Title Occupation
Application for appointment and background information for City of Stockton Boards, Commissions, and Committees
Profile
Ethnicity
Gender
What district do you live in? *
District 3
I declare under penalty of disqualification/termination that I have been a resident at the above address for years/months?
5/9
The City of Stockton uses email as the preferred method of communication regarding your application. Is this acceptable to you?
Yes No
Employer Address
Danielle Hibbitts
Stockton CA
Danielle Hibbitts
ATTACHMENT A 152
Are you currently serving on a City of Stockton Board, Commission, or Committee?
Yes No
Which Boards would you like to apply for?
California Correctional Health Care Services Citizens Advisory Committee: Submitted Question applies to multiple boards
NOTE: This Board requires membership with one of the following groups. If none, please remove board from your application. Are you knowledgeable, have experience in, or extensive background in any of the following areas? Select all that apply. *
Active in community activities significant enough to confirm knowledge of issues and individuals within the community
Understanding of Ethnic/Gender Diversity
Willingness to tolerate/promote change
I have been a resident of Stockton for at least 3 years.

Yes No
Interests & Experiences
Please tell us about yourself and why you want to serve.

I wrote a book entitled Herstory of the Hairstory, which is about the psychological implications hair has on African American Women. I have experience in working with a diverse population for the majority of my life. I grew up in Livermore and I was the only African American in the majority of my educational experiences. I have a different lens on incarceration and would love to be a part of transition and new development.

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

I have been trained in forensic assessment and have worked extensively with the prison population as a clinical psychologist. I worked with sex offenders 290 registrants in the State of California. I am aware of the ways to assist this Board in dealing with the correctional population.

Danielle Hibbitts
ATTACHMENT A 153
Upload a Resume
Have you served on an advisory group before?
Yes No
If yes, please explain.

Juvenile justice, Faith advisory board, Alameda County Mental health, CASOMB, SORATSO How did you hear about the position?
NAACP
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:
virtual accommodations as I may not be able to attend meeting in person often.

Danielle Hibbitts
ATTACHMENT A 154
Enter Your Initials:

DH
Date Signed
11/4/23
Danielle Hibbitts
ATTACHMENT A 155
Submit Date: Sep 14, 2023
Email Address
First Name Last Name
Street Address
City State Postal Code
Primary Phone Alternate Phone
Employer Job Title Occupation
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?
7 The City of Stockton uses email as the preferred method of communication regarding your application. Is this acceptable to you?
Yes No
Employer Address
Dharma Arokiadass
Stockton CA
Dharma Arokiadass
ATTACHMENT A 156
Are you currently serving on a City of Stockton Board, Commission, or Committee?
Yes No
Which Boards would you like to apply for?
California Correctional Health Care Services Citizens Advisory Committee: Submitted Question applies to multiple boards
NOTE: This Board requires membership with one of the following groups. If none, please remove board from your application. Are you knowledgeable, have experience in, or extensive background in any of the following areas? Select all that apply. *
Active in community activities significant enough to confirm knowledge of issues and individuals within the community
Possess decision-making abilities
Understanding of Ethnic/Gender Diversity
Willingness to tolerate/promote change
I have been a resident of Stockton for at least 3 years.

Yes No
Interests & Experiences
Dharma Arokiadass
ATTACHMENT A 157
Please tell us about yourself and why you want to serve.

My name is Dharma Arokiadass, I am currently the Director of Pharmacy at Stockton Rehab. I bring to this Advisory Committee a diverse background in healthcare, encompassing 23 years of experience across various healthcare settings, including my tenure at California Correctional Health Care Services. I believe in the transformative potential of the Correctional Health Care Services Advisory Committee, recognizing the pivotal role it plays in the well-being of individuals in correctional facilities. This belief fuels my commitment to dedicating my time, expertise, and energies to furthering the cause of Correctional Health Care Services. The opportunity to serve on this Advisory Committee motivates me and I view my role as an opportunity to contribute meaningfully to the potential improvements and outcomes within the field. I am eager to collaborate closely with fellow committee members who share my commitment to this cause. I firmly believe that with our collective efforts, we can uncover innovative solutions and drive progress in Correctional Health Care Services. In summary, my professional background and my dedication to creating positive change make me an ideal candidate for this role. I am genuinely excited about the prospect of contributing my skills and expertise to this Advisory Committee and working collectively towards the attainment of its objectives.

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

I am deeply aligned with the mission of the California Correctional Health Care Services Citizens Advisory Committee. This alignment resonates with both my personal values and my professional background. Drawing from my experience working within the California Correctional Health Care Services, I bring knowledge and expertise to the table. My career in Correctional Healthcare has provided me with a comprehensive understanding of the challenges within this domain. This experience has equipped me with the ability to contribute meaningfully to the Advisory Committee's objectives. I fully grasp the importance of this role in our correctional healthcare system. I aim to enhance public awareness of correctional programs, influence progressive directions in correctional policy, and propose strategies for refining and enhancing inmate health programs. I firmly believe that my contributions can play a pivotal role in advancing the mission of the Advisory Committee. I am enthusiastic about the prospect of collaborating with fellow members who share a similar passion for the well-being of individuals and the improvement of correctional healthcare. I firmly believe that collective efforts have the potential to bring about positive change on a substantial scale. I believe that my commitment to the mission, my relevant skills, and my experiences, drives me eager to serve in this capacity. I look forward to the opportunity to contribute effectively to the California Correctional Health Care Services Citizens Advisory Committee and make a meaningful impact on the vital issues it addresses.

Have you served on an advisory group before?
Yes No
How did you hear about the position?
City of Stockton Website ( www.stocktonca.gov/government/boardCom/bcVacant.html ) 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
Dharma Arokiadass
ATTACHMENT A 158
Upload a Resume
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:

None
Enter Your Initials:

DA
Date Signed
09/14/2023
Dharma Arokiadass
ATTACHMENT A 159
City of Stockton
Legislation Text
File #: 24-0350, Version: 1

APPOINTMENT TO THE SAN JOAQUIN COUNTY REGIONAL TRANSIT DISTRICT BOARD

RECOMMENDATION
It is recommended that City Council adopt a resolution reappointing Gary Giovanetti to the San Joaquin County Regional Transit District Board, for a term commencing July 1, 2024 and ending June 30, 2028.

Summary
On June 30, 2024, the term of Commissioner Gary Giovanetti will expire. In April 2024, the City Clerk’s Office scheduled interviews with the qualified applicants. Interviews were held on May 13, 2024 at which the incumbent, Gary Giovanetti was the only applicant to appear.

DISCUSSION
Background
The function of the San Joaquin County Regional Transit District Board is to supervise and regulate every facility owned and operated by the Transit District, including the fixing of rates, rentals, charges and classifications, and making and enforcing rules, regulations, contracts, practices, and schedules for or in connection with transit facilities owned or controlled by the District.

The San Joaquin County Regional Transit District Board was established pursuant to California Public Utilities Code Division 10, Part 5. The Board shall be comprised of five directors. Two directors shall be appointed by the San Joaquin County Board of Supervisors. Two directors shall be appointed by Stockton City Council. The Board of Supervisors, together with five members of the City Council appointed by the Mayor, shall constitute a board of election which, by a majority vote, shall appoint the fifth director.

Present Situation
With Gary Giovanetti being the only applicant to interview, Council Policy 3.02 Section 11. F. provides that if the number of applicants is less than or equal to the number of vacancies, Council may proceed to fill any number of vacancies from the available list.

Subject to Council ratification, it is recommended that Gary Giovanetti be appointed to a four-year term commencing July 1, 2024 and ending June 30, 2028.

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FINANCIAL SUMMARY
There is no financial impact to the General Fund in making this appointment.

Attachment A - Redacted Application
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Submit Date: Apr 24, 2024
Email Address
First Name Middle
Initial
Last Name
Street Address
City State Postal Code
Primary Phone Alternate Phone
Employer Job Title Occupation
Application for appointment and background information for City of Stockton Boards, Commissions, and Committees
Profile
Ethnicity
Gender
What district do you live in? *
District 3
I declare under penalty of disqualification/termination that I have been a resident at the above address for years/months?
3 years 9 months
The City of Stockton uses email as the preferred method of communication regarding your application. Is this acceptable to you?
Yes No
Employer Address
Gary S Giovanetti
Stockton CA
Gary S Giovanetti
ATTACHMENT A 162
Are you currently serving on a City of Stockton Board, Commission, or Committee?
Yes No
If yes, please list
San Joaquin Regional Transit District, Board Member San Joaquin Council of Governments, Ex-Officio
Which Boards would you like to apply for?
San Joaquin Regional Transit District Board: Submitted
Question applies to multiple boards
NOTE: This Board requires membership with one of the following groups. If none, please remove board from your application. Are you knowledgeable, have experience in, or extensive background in any of the following areas? Select all that apply. *
Active in community activities significant enough to confirm knowledge of issues and individuals within the community
I have been a resident of Stockton for at least 3 years.

Yes No
Question applies to San Joaquin Regional Transit District Board Have you resided within the Transit District boundaries for at least one year? Yes No
Question applies to San Joaquin Regional Transit District Board Are you a resident of the City of Stockton?
Yes No
Interests & Experiences
Please tell us about yourself and why you want to serve.

As former Vice Mayor for the City of Stockton I became aware of just how many complaints the ridership had regarding service. I returned all my calls and would forward refer the information to SJRTD. When my Council period termed out, Donna DeMartino, the CEO/General Manger for SJRTD sought me out and asked me to be a Board Member for her.

Gary S Giovanetti
ATTACHMENT A 163
Upload a Resume
Please state the reason you would like to be a member of this board/commission.

I have become aware that many of our customers have no other means of transportation.

The physically challenged, the visually challenge and the financially challenged. I believe people who are in a position that affects funding to SJRTD, and who have many choices in their transportation needs, do not appreciate the service we provide. Our ridership should have the highest priority when funding issues are in question.

Have you served on an advisory group before?
Yes No
If yes, please explain.

I have been a Board Member for the last 15 years.

How did you hear about the position?
Current Board Vice Chair
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
Gary S Giovanetti
ATTACHMENT A 164
Please identify any specialized accommodations needed for equal participation:

N/A
Enter Your Initials:

GSG
Date Signed
4/24/24
Gary S Giovanetti
ATTACHMENT A 165
Resolution No.

STOCKTON CITY COUNCIL

RESOLUTION APPOINTING ONE COMMISSIONER TO THE SAN JOAQUIN

REGIONAL TRANSIT DISTRICT COMMISSION
As of June 30, 2024, one vacancy will exist on the San Joaquin Regional Transit District due to the expiration of Commissioner Gary Giovanetti’s term; and The term for this position will begin July 1, 2024 and end June 30, 2028; now, therefore,

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

1. The City Council hereby reappoints Gary Giovanetti to fill one vacancy on the San Joaquin Regional Transit District Commission, for a term commencing June 30, 2024, and ending July 1, 2028.

PASSED, APPROVED, and ADOPTED June 4, 2024 .

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

KATHERINE ROLAND, CMC, CPMC
Interim City Clerk of the City of Stockton
166
City of Stockton
Legislation Text
File #: 24-0398, Version: 1

APPROVE MOTION TO EXECUTE A THREE-YEAR COOPERATIVE/PIGGYBACK PURCHASE

AGREEMENT WITH ADVANCED HELICOPTER SERVICES FOR HELICOPTER MAINTENANCE IN AN AMOUNT NOT TO EXCEED $385,650

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

1. Authorize the City Manager to execute a three-year Cooperative/Piggyback Purchase Agreement between the City of Stockton and Advanced Helicopter Services (AHS) for helicopter maintenance not to exceed $385,650.

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

Summary
On April 25, 2019, a Request for Proposals (RFP) (PUR 19-013) was published for Helicopter Maintenance. Proposals were due May 16, 2019. Two responses were received, and, after reviewing the proposals, the Selection Committee recommended contracting with AHS of Woodland, California, for a five-year term, not to exceed $1,244,000, to perform routine maintenance to the Stockton Police Department (SPD) helicopter, replace required parts/components, and be available for emergency call-outs at all times. Funding for the Agreement was included in the SPD’s budget proposal to City Council for FY 2019-2020. The annual amount of expenses incurred will vary based on actual flight hours. The current contract with AHS will expire June 30, 2024, leaving the Air Support Unit with an immediate need for a new contract. SPD is seeking Council approval for a three-year agreement (Attachment A) with AHS, in an amount not to exceed $385,650.

DISCUSSION
Background
On November 6, 2018, Council approved motion 2018-11-06-1107 to purchase a police helicopter.

One of the fixed costs identified in that request was maintenance, with routine inspections occurring after every 50 hours of flight time. These inspections may occur at either the SPD hangar in Stockton or the contractor’s facility in Woodland, CA. The location of services provided is dependent on the type of maintenance needed. Generally, major maintenance service is needed about every 100 flight City of Stockton Page 1 of 3 Printed on 5/30/2024
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hours. Parts and necessary components will be replaced as needed based upon the manufacturer’s recommendations and in consultation with the maintenance contractor, SPD pilot, and as funding permits. As part of this Agreement, the contractor will be available for emergency calls as needed.

Present Situation
SPD has used AHS since the purchase of the Helicopter and has found that it meets the department’s needs. Following discussions between SPD and the City Procurement Division, staff recommends approval of a Cooperative/Piggyback Purchase Agreement for a three-year agreement, in an amount not to exceed $385,650. This approach would enable SPD to continue to provide effective maintenance and prevent the discontinuation of airborne law enforcement.

On July 19, 2019, Council approved a five-year Professional Service Agreement with AHS, Motion 2019-07-16-1108. AHS has provided helicopter maintenance service and support to law enforcement agencies in northern California for approximately 18 years. They currently provide helicopter maintenance and regulatory compliance services for City of Sacramento, Contra Costa County, and SPD. Additionally, they perform maintenance tracking and forecasting of services for each customer.

AHS is certified to provide field maintenance services on Bell Helicopters per the Federal Aviation Administration’s Operations Specifications. During maintenance inspections (every 50 flight hours), parts and necessary components of the helicopter will be replaced as needed, based upon manufacturer’s recommendation and in consultation with the SPD pilot and within the available budget. The Agreement provides emergency call-out services 24 hours per day, seven days a week, should there be an immediate problem with the helicopter while in the field.

The AHS facility is within an acceptable flight distance from the SPD hangar, and they can meet the needs for the City’s helicopter maintenance requirements. The actual number of hours flown directly depends upon available fuel and maintenance funding within the SPD’s fiscal year operating budget.

Similarly, actual expenditures under this proposed Agreement will be based on actual flight hours each year and the corresponding maintenance needs.

Findings
Stockton Municipal Code section 3.68.070 provides for an exception to the competitive bidding requirements in cases wherein the City Council has made findings that support and justify the purchase via a sole source vendor. Findings to support the purchase are as follows:

1. AHS maintenance facility possesses and maintains a valid Federal Aviation Administration (FAA) approved repair station certificate, as prescribed in Tile 14, Part 145 of the Code of Federal Regulations (14 CFR 145).

2. AHS’s facility is available 24 hours a day, seven days a week, should there be an immediate problem with the helicopter while in the field.

3. The purchase of the Maintenance Service will allow SPD to continue airborne law enforcement activities.

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FINANCIAL SUMMARY
The total proposed cost is $385,650 for a three-year Cooperative/Piggyback Purchase agreement with AHS. Ongoing funding for year one is included in the FY 2024-25 Police Department General Fund Air Support Equipment Repairs/Maintenance Account.

Attachment A - Advanced Helicopter Services Cooperative Piggyback Purchase Agreement City of Stockton Page 3 of 3 Printed on 5/30/2024
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ATTACHMENT A
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ATTACHMENT A
171

ATTACHMENT A
172

ATTACHMENT A
173
Revision (03-18-2021)

CITY OF SACRAMENTO
____________Police_______________________
(Responsible Department)
Bid Number: _B221100114109_

INVITATION FOR BID
And
Contract Specifications Nonprofessional Services
FOR: _Aircraft Maintenance Services___
Bids Must Be Received Up To The Hour of 2:00 P.M. on _May 4th, 2022_______________ Bids Must Be Submitted To: Office of the City Clerk
915 I Street, New City Hall
5 th Floor Public Counter
Sacramento, CA 95814
Pre-Bid Conference:

Mandatory: [ ] Yes
[ x ] No
NAME AND ADDRESS OF BIDDER SUBMITTING THIS BID:
(Bidder to complete the following information)
Name of Bidder: ________________________________________________ Address: _______________________________________________________ City, State, Zip Code:_____________________________________________ Phone Number:__________________________________________________ Email Address:__________________________________________________

ATTACHMENT A
174

Page 2 ends

CITY OF SACRAMENTO
Bid No.__ B221100114109 __

TABLE OF CONTENTS
(Formal Services)
Document Title Page No. or N/A
Electronic Bid Document(s) Availability 3

SECTION I REQUIREMENTS
A. Bid Instructions and Requirements 5

SECTION II CONTRACT DOCUMENTS
A. Special Provisions 13
B. Technical Specifications 15

SECTION III BIDDER RESPONSE DOCUMENTS
A. Submittals Required Prior to Start of Contract 17
B. Bid Guarantee 18
C. Performance Bond 18
D. Payment Bond 18
E. Drug Free Workplace Affidavit 19
F. Items Requiring Bidder Response 20
G. Pricing Schedule 23
H. Bid Signature Page 33

ATTACHMENT A
175
BID NO. B221100114109

Page 3 ends

Electronic Bid Document(s) Availability

1. page. http://www.planetbids.com/portal/portal.cfm?CompanyID=15300

2. Any additional information (Addenda, Q&A, etc.) pertaining to this bid will also be found at the above official link.

3. Bid information obtained from third party sources will not be considered official responsibility for all official bid information as posted on our official site at the link above. Documents obtained from such sources may be incomplete, resulting in responses that are rejected as incomplete and non-responsive.

ATTACHMENT A
176
BID NO. B221100114109
P a g e 4 | 34

SECTION I

REQUIREMENTS

ATTACHMENT A
177
BID NO. B221100114109
P a g e 5 | 34

ATTACHMENT A
178
BID NO. B221100114109
P a g e 6 | 34

SECTION I REQUIREMENTS
A. BID INSTRUCTIONS AND REQUIREMENTS
No Bid Is In Legal Form Unless the Following Instructions Are Fully Complied With:

1. Additional Copies. VENDORS ARE REQUIRED TO SUBMIT AN ORIGINAL BID, INCLUDING ALL REQUIRED

ATTACHMENTS SUCH AS BROCHURES AND CATALOGS, TO THE CITY CLERK ON THE DATE AND AT THE TIME AND LOCATION SPECIFIED ON THE COVER SHEET. FAILURE TO DO SO MAY CAUSE YOUR BID TO BE REJECTED.

2. Bid Forms. Bid must be submitted on the forms included herein as follows:
s website at
http://www.planetbids.com/portal/portal.cfm?CompanyID=15300 Bids must be submitted in a sealed envelope or package. Bid submission envelopes/packages shall exhibit the City s bid name and number, and include the vendor s name and address printed on the outside of the envelope/package.

Bidders are invited to be present at the opening of bids. Bids will be opened, in public, in the Historic City Hall, Historic Chambers, 915 "I" Street, 2nd Floor, Sacramento, CA at or after 2:00 P.M. on, 5/04/2022 . After opening, (Note: Bids must be submitted up to 2:00 P.M. on the above date) . All bids shall be clearly and distinctly written without erasure or modification, and properly signed by an authorized party, who shall indicate the capacity in which the signature is executed.

3. Alternate Bids. Alternate bids are invalid unless invited and covered by the specifications. Please note, all submissions are subject to rejection when unsolicited alternate bids are submitted.

4. Bid Security. Bid Security is: [ ] Required [ x ] Not Required If required, bid security approved by the City must accompany the bid, in the amount of ___ % of the total amount of the bid. Bid security can be in the form of a cashier's check, certified check, or a bid bond from a surety company authorized to do business in the State of California. Bid securities will be returned to all except the three lowest Bidders within ten days after the opening of bids. The bid security of the two unsuccessful Contractors will be returned after the successful Contractor has executed the contract. Bid security of the successful Contractor will be returned when the contract is signed and all other contract award requirements have been met.

5. Interest in More Than One Bid. No bidder shall be interested in more than one bid (submit more than one bid for this solicitation), as provided by City Code Section 3.56.130(D).All bids by the same principal will be rejected.

6. Rights. City reserves the right to take any of the following actions in its absolute discretion:

The right to award in whole or in part.

The right to reject any and all bids is reserved by the City.

The right to increase or decrease the quantities listed.

The right to issue subsequent Invitation For Bids (IFB).

The right to approve or disapprove the use of particular subcontractors and/or suppliers.

ATTACHMENT A
179
BID NO. B221100114109
P a g e 7 | 34
The City reserves the right to waive any informalities or minor irregularities, as determined in its sole discretion, in connection with bids received.

The right to make multiple awards to provide alternate sources to ensure continuity of services.

The right to acce d offer and issue a purchase order directly to the bidder based on the IFB.

7. City Code. All provisions of Chapter 3.56 of the City Code are applicable to any bid submitted or contract awarded.

8. Equipment. If equipment is bid, it shall be the newest and latest model in current production. Used, remanufactured, shopworn, demonstrator, prototype or discontinued models are not acceptable unless otherwise stipulated by the City.

9. Brand Name or Equivalent. Unless otherwise indicated, brand names and model numbers, when used, are for reference to indicate the character or quality of the desired item. Equivalent items will be considered. Offers for equivalent items shall state the brand and model number, or level of quality or performance. Submissions must include appropriate documentation to support the claim of equivalency. The burden of proof and cost of analysis, if necessary, to determine equivalence shall be the bidder s responsibility. The City is the sole judge as to whether an offered item is equivalent to the requested item and the City s judgment shall be final. When a brand name, model number, or level of qualify or performance is not stated by the bidder, it will be understood that the brand name listed will be provided.

10. Samples. Samples of items, when requested or required, shall be furnished to the City free of charge of any kind, including freight or handling charges. Samples of items may be retained for future comparison. Samples may be damaged or destroyed by testing. Samples shall be returned to bidders only upon request, and at the bidder s cost.

11. Faithful Performance Bond. A faithful performance bond is: [ x ] Not Required [ ] Required If required, the successful bidder must submit a performance bond in a form approved by the City Attorney, in the amount of .

12. Payment Discounts. Payment discounts offered for payment in less than twenty (20) days will not be considered as a basis of award. Payment discounts offered for payment in twenty (20) or more days will be subtracted from the total bid price for the purposes of bid evaluation. Any payment discount offered by the successful bidder will be accepted by the City of Sacramento, whether or not it was considered as a basis of award. For purposes of award, The City assumes that all invoices are paid within the discount terms (all discounts are taken).

13. Local Business Sales or Use Tax. The lowest responsible bidder shall be determined after the amount of local sales or use tax that would be received by the City is deducted. The current rate at which such local sales or use tax is received by the City is one percent (1%). Therefore, in evaluating bids to determine the lowest responsible bidder, bids that are subject to this tax at the time of opening shall have an amount equal to one percent (1%) of the taxable total deducted from the bids. This deduction shall be in addition to the application of any price preferences or other deductions authorized by the City Code. Such deductions shall be made for bid evaluation purposes only. Contract awards shall reflect the actual prices submitted.

If this IFB is for Goods and Services, Respondents must identify all taxable materials on a separate line item(s) from services to receive this price preference.

14. Mandatory Pre-Bid Conference. If a mandatory Pre-Bid Conference is indicated on the cover of this Invitation for Bid, all bidders are required to attend the conference. Failure to attend this conference will result in rejection of your bid. If a mandatory Pre-Bid Conference is indicated, bid packages will be made available only through the time and date of the conference. Subsequent addenda, if applicable, will be furnished only to those bidders who attended the Mandatory Pre-Bid Conference.

15. Bid Inquiries. Questions regarding this bid should be submitted to [select one]:

The City s Bid Center ( PlanetBids ) Q&A tab for this bid. -

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These inquiries must be submitted at least 2 days prior to the bid opening date. Answers will be posted to the City s Bid Center Q&A tab or in the form of a written addendum to this IFB. If an addendum is issued, the receipt of such an addendum must be acknowledged in accordance with the directions on the addendum. Oral explanations or instructions given before the award of the contract will not be binding. Any contacts made with other City staff in an attempt to circumvent, interfere, or influence the City s standard bidding and evaluation practices may be grounds for disqualification of the bidder.

16. Bid Evaluation. In determining the amount bid by each bidder, the City shall disregard mathematical errors in addition, subtraction, multiplication and division that appear obvious on the face of the Bid. When such a mathematical error appears on the face of the Bid, the City shall have the right to correct such error and to compute the total amount bid by the bidder based on the corrected figure or figures.

When an item price is required, and it is inconsistent with the extended price listed for the total quantity requested (item price times estimated quantity needed), the item price shall prevail over the extended price for the item unless, in the sole discretion of the City, such a procedure would be inconsistent with the intent of the bid process. The total paid for each such item of work shall be based upon the item price and not the total extended price.

Should the Bid contain only a total extended price for the item and the item price is omitted, the City shall determine the item price by dividing the total extended price by the estimated quantity needed, as listed in this IFB..

If the Bid contains neither the item price nor the total price for the item, then it shall be deemed incomplete and the Bid shall be disregarded.
l,
number of the item offered in the space provided. If such information is not provided, it will be assumed that the an item is an equal to the item
specified shall be final.

17. Determination of Lowest Responsible Bidder. Sacramento City Code '3.56.020 provides that the lowest responsible bidder shall be determined as follows:
a. In determining whether a bidder is responsible, consideration shall be given to: (i) the quality and performance of the supplies to be provided by the bidder; (ii) the ability, capacity and skill of the bidder to perform the contract or effectuate the transaction; (iii) the ability of the bidder to perform the contract or effectuate the transaction within the time specified, without delay; (iv) the character, integrity, reputation, judgment, experience and efficiency of the bidder; (v) the quality of the bidder's performance on previous purchases by, or contracts with, the City; (vi) the ability of the bidder to provide future maintenance, repair parts and services for the supplies provided.
b. Based on the information provided in the bids, the City Council or the City Manager, as the case may be, shall identify those bids that are subject at the time of bid opening to the City's local sales or use tax under the provisions of Part 1.5 of Division 2 of the California Revenue and Taxation Code and Chapter 3.24 of the City Code. The lowest responsive, responsible bidder shall be determined after the amount of local sales or use tax that would be received by the City is deducted from such bids. This deduction shall be in addition to the application of any bid price preferences authorized by subsection c, below.

The City Council may by resolution, from time to time, adopt programs or procedures for providing bid price preferences, including but not limited to, preferences to promote the participation and utilization of local business enterprises, energy conservation and sustainability in the City's contracting for supplies and nonprofessional services. The lowest responsible bidder shall be the responsible bidder whose bid price is the lowest after all bid prices are calculated to include any such preferences. The calculation of such preferences shall be in addition to any deduction of sales or use tax required by subsection b, above.

18. Pre-Award Conference. The apparent lowest responsible bidder may be required to attend a pre-award conference at a mutually acceptable time at which requirements of the Contract will be reviewed. At that time, samples of forms, reports etc., will be submitted by the Contractor for final approval.

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19. Award by Item or Group. The City reserves the right to increase or decrease quantities listed, make separate awards for any item, line-item or category/group of items to the lowest responsible bidders for such items or category/groups of items.

20. Multiple Awards. The City reserves the right to make multiple awards in order to provide for multiple sources, to ensure continuity of supply if meeting the City's requirements within an acceptable time period may exceed the capacity or capability of the primary contractor.

21. Contract Award. Within ninety (90) days after bid opening, a contract will be awarded by the City to the lowest responsible bidder(s), subject to the right of the City to reject all bids or waive informalities or minor irregularities, as it may deem proper. The time for awarding a contract may be extended in the sole discretion of the City, if required to evaluate bids or for such other purposes as the City may determine, unless the Bidder objects to such extension in writing with its Bid. The City may accept a Bid offer by issuance of a Notice of Award Letter, Contract and/or a purchase order notifying Bidder of award at any time on or before the 90th day following the day of Bid opening.

22. Non-Professional Services Agreement. The bidder(s) recommended for award will be required to sign a NonProfessional Services Agreement. A copy of the agreement can be found at the following web address:
http://portal.cityofsacramento.org/Finance/Procurement/Standard-Agreements Bidders are responsible for reading and understanding all of the requirements of the agreement prior to submitting their bid. Questions about any portion of the agreement shall be submitted in the manner specified in this bid.

In addition, the resulting contract may be subject to three City ordinances referenced in the agreement. These ordinances shall be reviewed at the following web addresses. 22A. Living Wage Requirements for Non-Professional Service Agreements:
http://portal.cityofsacramento.org/Finance/Procurement/Standard-Agreements 22B. Requirements of the Nonhttp://portal.cityofsacramento.org/Finance/Procurement/Standard-Agreements 22C. Ban-the-Box Requirements:
http://portal.cityofsacramento.org/Finance/Procurement/Standard-Agreements

23. Emergency/Declared Disaster Requirements. In the event of an emergency or if a City facility is declared a disaster area by the county, state or federal government, the contract resulting from this IFB may be subjected to unusual usage. The selected bidder shall provide service to the City during such an emergency or declared disaster under the same terms and conditions that apply during non-emergency/disaster conditions. If the consultant/vendor/supplier is unable to supply the goods/services under the terms of the contract because of a disruption in its chain of supply or service, then the consultant/vendor/supplier shall provide proof of such disruption which may include, but not be limited to a copy of a letter from the source of supply or service stating reason for the disruption. Additional profit margin as a result of supplying goods/services during an emergency or a declared disaster shall not be permitted.

24. All bids must show the full name of the firm bidding and must be on forms furnished by the City of Sacramento Procurement Division. All responses must be written in ink, printed on a typewriter, or computer generated.

Responses made in pencil will not be considered.

25. Submission of Bids. The City is not responsible for misaddressed bid submittals. Please assure that you utilize the address appropriate for the method of delivery. Bid submissions made via commercial express courier (FedEx, United Parcel Svs.) or personal delivery must be addressed as follows:

Office of the City Clerk
915 I Street, New City Hall
5 th Floor Public Counter
Sacramento, CA 95814

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26. Bid Protest. Bid protests must be filled and maintained in accordance with the provisions of Sections 3.60.460 through 3.60.560 of the Sacramento City Code. Bid protests that do not comply with Sections 3.60.460 through

3.60.560 of the Sacramento City Code shall be invalid and shall not be considered. A bid protest fee of $750.00 is required at the time of filing to be considered valid in accordance with City of Sacramento Resolution No. 2003-231 dated April 29, 2003. As used herein, the term "bid protest" includes any bid protest that (1) claims that one or more bidders on this contract should be disqualified or rejected for any reason, or (2) contests a City staff recommendation to award this contract to a particular bidder, or (3) contests a City staff recommendation to disqualify or reject one or more bidders on this contract. Sections 3.60.460 - 3.60.560 of the Sacramento City Code are available at:
http://www.qcode.us/codes/sacramento/

27. Business Operations Tax Certificate. Sacramento City Code requires that any person or firm conducting business within or with the City of Sacramento obtain a Business Operations Tax Certificate and pay the applicable tax if necessary. Successful Respondent(s) must meet this requirement prior to Award of the Contract.

To obtain information about the Business Operations Tax Certificate, contact the City of Sacramento, Revenue Division, 915 I Street, Room 1214, Sacramento, CA 95814, or telephone (916) 808-8500.

Licenses and Permits. By providing a Submission in response to this Solicitation, the Respondent represents and warrants that it has all licenses, permits, qualifications, and approvals required for the Respondent to furnish the Goods and/or Services required by the City. If the Respondent is an out-of-state entity, the Respondent represents and warranties that it possesses a valid certificate to transact business in the State of California issued by the California Secretary of State.

29. Local Business Enterprise (LBE ) Participation Requirements (Not Applicable - Federal Funds Used) I. LBE PARTICIPATION REQUIREMENT
On April 3, 2012, the Sacramento City Council adopted a Local Business Enterprise (LBE) Preference Program to provide enhanced opportunities for the participation of local business enterprises (LBEs) g and procurement activities. On November 19, 2013, the City Council increased the LBE preference percentage and authorized City departments to require a minimum 5% LBE participation level in public project and professional service contracts. On December 17, 2013, the City Council amended the City Code to allow City departments to require a minimum 5% LBE participation level in supply and nonprofessional service contracts. Under City Code section 3.60.270, when the specifications or request for proposals or bids for a City contract establish a minimum participation level for LBEs, no proposer or bidder on the contract shall be considered responsive unless its proposal or bid meets the minimum LBE participation level required by the specifications or request for proposals or bids.

The City has established a minimum 5% participation level for LBEs on this contract. Under City Code section

3.60.270, no proposer or bidder shall be considered a responsive proposer or bidder unless its proposal or bid meets this minimum LBE participation level.

Bidder and any other business entity listed on the LBE forms submitted shall comply with all applicable laws relating to licensing, permitting, and payment of taxes and fees in the City of Sacramento or County of Sacramento; and shall not be in arrears to the City of Sacramento or County of Sacramento, upon award of a contract.

II. LBE QUALIFICATION (Not Applicable - Federal Funds Used) A. An LBE designated in the proposal or bid must be qualified as a LBE prior to the time set for submission of proposals or bids.

B. Local Business Enterprise means a business enterprise, including but not limited to, a sole proprietorship, partnership, Limited Liability Company, corporation, or other business entity that has a legitimate business presence in the City or unincorporated county of Sacramento. Proof of legitimate business presence in the City or unincorporated county of Sacramento shall include:

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Having a current City of Sacramento Business Operation Tax or County of Sacramento Business License for at least twelve (12) consecutive months prior to submission of the proposal or bid; and
Having either of the following types of offices or workspace operating legally within the City or unincorporated county of Sacramento for at least twelve (12) consecutive months prior to submission of the proposal or bid:
rinciple business office or workspace; or
located in the City or unincorporated county of Sacramento.

An LBE must provide a physical address for the basis of location. This excludes P.O. Box addresses.

An LBE must provide a current copy of the City of Sacramento Business Operations Tax Certificate or County of Sacramento Business License.

III. DETERMINATION OF LBE PARTICIPATION LEVEL (Not Applicable - Federal Funds Used) Professional and nonprofessional service agreements of $250,000 or more will be subject to a minimum 5% LBE participation requirement.

To receive credit for the 5% minimum participation requirement, the Contractor must either (a) be an LBE, or (b) subcontract with a business entity that is a qualified LBE.

IV. LBE REQUIREMENTS OF SUCCESSFUL PROPOSAL(Not Applicable - Federal Funds Used) A. LBE RECORDS - The Contractor shall maintain records of all agreements with verified LBE subconsultants or subcontractors for one (1) year after receiving final payment from the City. Such records shall show the name and business address of each LBE subconsultant or subcontractor and the total dollar amount actually paid each LBE subconsultant or subcontractor. Upon completion of the agreement, a summary of these records shall be prepared, certified correct by the representative, and furnished to the City. The Contractor shall provide such other information, records, reports, certifications, or other documents as may be required by City, to determine compliance with any provision of the LBE program or these requirements.

B. REPORTING REQUIREMENTS AND SANCTIONS - Failure to provide specific information, records, reports, qualifications, or any other documents required for compliance with these requirements shall be considered noncompliance with the agreement. If the Contractor fails to correct a deficiency within fifteen (15) days after notification, a deduction may be made from the agreement amount. The deduction shall be ten (10) percent of the estimated value of the services performed during the month, not to be less than $1,000 nor exceed $10,000.

C. PERFORMANCE OF LBE SUBCONSULTANTS - The LBEs listed as subconsultants or subcontractors by the Contractor shall perform the work or services for which they are listed unless the Contractor has received prior written authorization from the City to perform the work or services in another manner. If the City approves the substitution of a LBE listed as a subconsultant or subcontractor by the Contractor, the Contractor will be required to make good faith efforts to replace the original LBE subconsultant or subcontractor with another qualified LBE subconsultant or subcontractor.

V. DEFINITIONS
A. Local Business Enterprise (LBE)
Local Business Enterprise (LBE): A business enterprise, including but not limited to, a sole proprietorship, partnership, limited liability company, corporation, or any other business entity that has a legitimate business presence in the City of Sacramento or unincorporated county of Sacramento.

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B. Contractor
The successful proposer or bidder who is awarded the professional service or nonprofessional service agreement by the City.

C. Subconsultant
The individual, partnership, corporation, firm, or other entity entering into a contract or agreement with the Contractor to perform a portion of the work or services under the professional service agreement.

D. Subcontractor
The individual, partnership, corporation, firm, or other entity entering into a contract or agreement with the Contractor to perform a portion of the work or services under the nonprofessional service agreement.

30. Submission Authority. By providing a Submission in response to this Solicitation, the bidder certifies that the only persons or parties interested in its submission as principals are those named herein; that its bid is made without collusion with any other individual, firm, or corporation; that it has examined all of the Contract Documents and proposes and agrees that if its Submission is accepted, the Respondent will execute the Contract Documents without amendment and fully perform the Contract; that the Respondent shall furnish all Goods and/or perform all Services specified in the Contract Documents, in the manner and time prescribed, and according to the requirements set forth therein; and that the Respondent shall accept the prices set forth in the Respondent's attached Pricing Schedule.

SUBJECT TO PARAGRAPH 7 ABOVE, THE CITY CANNOT ACCEPT A
BID FAILING TO COMPLY WITH ANY OF THE ABOVE REQUIREMENTS.

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SECTION II

ADDITIONAL CONTRACT

DOCUMENTS

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SECTION II ADDITIONAL CONTRACT DOCUMENTS
The bidder(s) recommended for this award will be required to sign a Non-Professional Services Agreement. A copy of the agreement can be found at the following web address:
http://portal.cityofsacramento.org/Finance/Procurement/Standard-Agreements In addition to the terms set forth in the Non-Professional Services Agreement, the following terms will be included in the Contract.

A. SPECIAL PROVISIONS

1. Purchase Order. A Purchase Order will be issued to the Contractor on behalf of the City department or division ordering items/services covered in the contract. The Purchase Order will be enclosed with the resulting contract or will be issued shortly thereafter, and will become of the contract. Each Purchase Order will cite a specific dollar value to cover a particular item or specified period of time. If a contract is for a specific period of time and extends beyon ear of June 30th a second purchase order may be issued.

A. The Purchase Order does not supersede any provision of the contract. Performance time and dates are determined solely by the contract.

B. Delivery of material and/or services are not to begin until receipt of the Purchase Order and/or other notification by the City.

2. Cooperative Purchasing. The use of any resulting contract may be extended to other government agencies and to other departments or divisions within the City of Sacramento. It shall be understood that all terms and conditions as specified herein shall apply. The City of Sacramento will not be an agent, partner or representative of any other government agency purchasing through its Contract and is not obligated or liable for such purchases, including, but not limited to, payment for any order placed by any other government agency.

3. Environmentally Preferable Procurement
The City has adopted nable Procurement Policy (SPP) and program. The goal is to encourage the procurement of products and services that help minimize environmental impact resulting from use and disposal of these products. Contractors are encouraged to offer Energy Star, Green Seal, EcoLogo, EPEAT, or products that meet FEMP (Federal Energy Management Program) standards for energy consumption. City also encourages contractors to offer products that are produced with recycled materials, where appropriate, unless otherwise requested in this IFB.

Contractors will offer products that have minimal virgin materials and maximum use of recycled products. Contractor must work with the City to attain these goals.

Notwithstanding the above, the Contractor agrees to supply the City of Sacramento with environmentally preferable and effective products in compliance with the specifications in this solicitation and provide services that help minimize environmental impact resulting from use and disposal of products specified in this bid.

The Contractor further agrees that its products specified in this bid do not contain any items, ingredients or components prohibited under the Cit y.

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The City may terminate this contract or take other appropriate actions if the contractor fails to comply or provide adequate supporting documentation to substanti
requirements specified in the bid.

The Cit
http://portal.cityofsacramento.org/Finance/Procurement/Sustainability-Options or by contacting the Procurement Services Division at (916) 808-6240.

4. Taxpayer Identification Certification. Contractor shall file a current version of the Department of the Treasury Internal Revenue Service Form W-9 with the City.

5. California Income Tax Withholding Status. Contractor shall certify its California income tax withholding status by filing a current version California For

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SECTION II CONTRACT DOCUMENTS
B. TECHNICAL SPECIFICATIONS/PLANS/OTHER REQUIREMENTS

SCOPE OF SERVICE

1. Time of Performance: The services described herein shall be provided for five (5) years, from 7/01/2022 through 6/30/2027.

2. Required Services: Contractor shall perform any and all inspections, maintenance, and repairs recommended by the manufacturers of aircraft operated by SPD and any other inspections, maintenance, and repairs necessary to ensure the airworthiness of SPD aircraft and functionality of SPD equipment.

3. License and Permits: The Contractor shall furnish labor, materials, tools, licenses, and any applicable permits necessary to maintain two (2) Bell OH-58 helicopters, one (1) Bell 505 helicopter, and one (1) Cessna 172 owned and operated by the Sacramento Police Department (SPD). The licenses and permits shall be current and in effect at the time bids are submitted and for the entire term of the contract, to include renewal periods. The licenses and permits shall be available for inspection by the SPD upon request.

4. FAA Certified Mechanics: For inspections, maintenance, and repairs performed on SPD aircraft and related equipment, the Contractor shall only assign current Bell and Cessna Federal Aviation Administration (FAA) certified Airframe and Powerplant (A&P) mechanics.

Related equipment includes, but is not limited to, avionics, camera, spotlight, PA, downlink, and items used on the aircraft to conduct police air operations missions. The Contractor shall possess and maintain (a) valid FAA approved repair station certificate(s), as prescribed in Part 145 of the Federal Aviation Regulations (FAR), necessary to conduct the level of maintenance required by the contract.

5. Primary Mechanic: The Contractor shall assign a primary mechanic who is responsible for the oversight and performance of inspections, maintenance, and repairs of SPD aircraft and equipment. The primary mechanic shall be available by telephone for consultations and guidance regarding maintenance issues within two (2) hours of initiated contact by SPD. The primary mechanic engine
field maintenance course(s) specific to the SPD aircraft. If the primary mechanic has not attended such (a) course(s), he/she must begin this training within sixty (60) days after notification of contract award or at the next scheduled class, whichever comes first. Upon completion of the training, the Contractor shall provide a copy of the certificate(s) to SPD. In the event the primary mechanic is unavailable for requested work by SPD, a replacement mechanic may perform the work with pre-approval by SPD.

6. Bennett Mechanical Comprehension Test (BMCT): Within six (6) months after notification of contract award, the Contractor shall submit all scores from the BMCT for all mechanics assigned to perform inspections, maintenance, and repairs on SPD aircraft and equipment.

SPD shall reserve the right to refuse assignment of a mechanic to work on SPD aircraft and equipment based on BMCT scores. Substitutions for the BMCT will be considered on a caseATTACHMENT A 189
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by-case basis, however, it is the C
industry-recognized criteria for aviation maintenance technician score requirements for alternate mechanical aptitude tests.

7. Mechanic Qualifications: Contractor shall submit resumes for all mechanics that will be performing maintenance, inspections and repairs on SPD aircraft within sixty (60) days after notification of contract award. This requirement includes mobile mechanic(s) and mechanics working out of the C
experience, schools/courses attended, copies of current certific attended, and FAA ratings held. The Contractor shall notify SPD in writing/email of any failures of performance requirements or safety violations of any mechanic who performs inspections, maintenance, and repairs on SPD aircraft. SPD reserves the right to refuse the service of any mechanics at any time. SPD will allow the Contractor up to sixty (60) days to identify and retain a suitable replacement mechanic consistent with the requirements set forth in Section 4 above.

8. Primary Mechanic Replacement: Should it be necessary during the term of the contract; SPD reserves the right to request a replacement primary mechanic for any/all future inspections, maintenance, or repairs of SPD aircraft and equipment. SPD will allow the Contractor up to sixty (60) days to identify and retain a suitable replacement mechanic consistent with the requirements set forth in Section 4 above.

9. Additional Mechanics: When deemed necessary by SPD, Contractor shall provide additional mechanics to assist with required aircraft inspections, maintenance, and repairs.

The additional mechanics shall meet the requirements listed herein. For the performance of scheduled inspections, maintenance, and repairs, SPD shall request that Contractor dispatch additional mechanics upon forty- . For the performance of unscheduled inspections, maintenance, and repairs, Contractor shall honor a request from SPD to dispatch additional mechanics within twenty-four (24) hours of the request. The Contractor shall provide additional qualified mechanics on the date(s) desired by SPD.

10. Avionics: Mechanics are expected to be able to remove and reinstall radios, computer, cables, antennas, and various electronic/electrical components which may need to be sent to appropriate service centers for repairs. Avionics related discrepancies that are beyond the capabilities of the Contractor shall be subcontracted to an appropriate repair facility as agreed upon in advance by SPD. A written estimate of subcontractor services and costs shall be provided and agreed to in advance.

11. List Component: The Contractor shall be required to maintain a status list of all finite components and their times. The Contractor shall notify SPD when a part is within 300 hours of replacement.

12. Contractor Facility: The C
located within fifty (50) nautical miles of McClellan Park, CA 95652 and must be an FAA Certified Repair Station.

13. Transport Capability: The Contractor shall be capable of trailering and transporting SPD aircraft from a designated SPD facility to its maintenance facility. Contractor shall bear the burden of loss/damage/risk for any aircraft, parts, and equipment in its possession for

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transport, either by the Contractor or by a common carrier. Contractor shall provide insurance up to the amount of the m aft, parts, and equipment,
including, but not limited to, all engines and engine components. Auto liability and in-transitinsurance coverage that covers the cost of the aircraft, parts, and equipment shall be required. The Contractor shall provide proof of such insurance to SPD upon execution of the contract.

14. Aircraft Inspections: Unless the Contractor provides a specific reason for its inability to conduct inspections at the SPD facility, the Contractor shall perform 25-hour inspections for Bell OH58 and 50-hour inspections for Bell 505 helicopters at the designated SPD facility. All additional helicopter manufacturer-recommended inspections, and all Cessna inspections, may be performed at the C
All recommended manufacturer inspections performed at the C shall be conducted in a timely manner unless documented hardships exist and are communicated with, and agreed upon, by SPD. Inspection, maintenance, and repair delivery time estimates shall be communicated with the SPD Air Operations representative at the start of the work order. At a minimum, the following inspections are required:

Bell Helicopter 505:
50 Hour
100 Hour
200 Hour
300 Hour
400 Hour
500 Hour
600 Hour
1200 Hour
1500 Hour
3000 Hour
Bell Helicopter OH58:
25 Hour
100 Hour
300 Hour
Cessna 172:
50 Hour
100 Hour
Annual Inspection

15. Unscheduled Repairs: For all inspections, maintenance, and repairs, other than scheduled inspections, the Contractor shall provide a written estimate of the time, and costs of labor and parts, required to complete the SPD request. Prior to starting such inspections, maintenance, and/or repairs, the Contractor shall obtain written approval from the SPD air operations

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supervisor. No work shall be started, or parts supplied, in excess of, or different from, the original written estimate without separate, prior approval of the SPD Air Operations supervisor. Use of over-time labor rates must be approved in advance by the SPD Air Operations supervisor.

16. Defective Parts/Repair & Replacement of Airframe & Engine Components: While performing any job under the contract, Contractor shall; 1) perform all repairs necessary to allow each
replace all parts which are defective or which, according to the m or recommendations, should be replaced at the time Contractor is performing the work.

17. Work Order: The Contractor shall provide a copy of the work order along with the component, for any component that is overhauled by or through Contractor.

18. Maintenance Schedule: The Contractor shall use an appropriate maintenance schedule.

When conducting aircraft inspections, maintenance, and repairs, the mechanic shall perform the inspections, maintenance, and repairs checklist
and/or a checklist agreed upon in advance by SPD. After completion of the inspections, maintenance, and/or repairs, the mechanic shall provide the checklist(s) to the SPD pilot receiving the aircraft for review prior to any operation of the aircraft. A copy of the checklist shall be given to SPD for retention. The checklist shall verify that each procedure has been accomplished. The checklist shall include a space for initialing by the mechanic completing the service procedure item and pilot receiving the aircraft.

19. Aircraft Maintenance Records: Airframe, engine, component, and avionics logbooks, if applicable, shall be maintained for each aircraft. Entries shall be made by the primary mechanic performing the maintenance or designee, and will be in accordance with, FAR

43.11 (Content, form, and disposition of records for inspections under Part 91). Logbook entries and the appropriate electronic maintenance tracking system entries shall be completed immediately upon completion of maintenance being performed and prior to the aircraft being returned to service.

Entries shall be made:
(a) Upon completion of inspections, repairs, or maintenance; (b) ;
(c) Service Letters; and
(d) After a post-maintenance flight and return to service per FAR 91.407(b). This entry shall be made in conjunction with the SPD pilot performing the return -to service-flight.

20. Protection of SPD Aircraft, Parts, and Equipment: Contractor shall be responsible for the security of SPD aircraft, parts, and equipment while in its possession and will be fully liable for any loss of, or damage to, the aircraft, parts and equipment. Contractor shall maintain a secure hangar for storing SPD aircraft, parts and equipment not accessible to the public, with a burglar and fire alarm system installed, which is limited to a central reporting station. The Contractor shall provide for safe and secure storage of all SPD parts including, but not limited to, engines, main rotor blades, and main rotor heads. Contractor recognizes that engine, engine components and air frame components may be stored for several months prior to installation. The Contractor shall keep a log of all SPD-owned parts in its possession and

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provide it upon request to SPD until the agreement expires. Contractor shall maintain a all
SPD aircraft, parts,
shall provide proof of such insurance to SPD upon execution of the contract.

21. Responsibility for Damage or Loss: Costs of repairing or replacing SPD aircraft due to any damage caused by the acts or omissions of Contractor, any subcontractor or agent of Contractor, their respective officers and employees, and anyone else for whose acts or omissions any of them may be liable, will be the sole responsibility of the Contractor.

22. Tools: pair and
maintain SPD equipment. Should the SPD request the use of a tool or special equipment that is above and beyond what is required for routine maintenance, the Contractor shall provide a written cost estimate for the tools and obtain prior authorization from the SPD for the purchase. Contractor shall or required by the
manufacturer, for instance, to maintain warranty coverage. Tool use shall conform to any and all Bell and Cessna manufacturer guidelines and warranties.

23. Tool Inventory: Contractor shall have a formal tool inventory control system to ensure that all tools used during maintenance are removed from the aircraft and returned to their storage areas at the conclusion of the maintenance. Foam shadow boxing of all tools is recommended. If shadow boxing is not used, a tool inventory list of all tools used shall be required and provided to SPD for review during post-maintenance aircraft inspections and prior to operation of the aircraft.

24. Formal Foreign Object Damage (FOD) Control Program: Contractor shall have a formal FOD control program in place. At a minimum, the FOD control program shall ensure that tools, parts, and debris are not routinely placed on aircraft surfaces during maintenance actions other than as necessary to complete a specific task. Contractor must provide proof that Contractor has an FOD program in place within sixty (60) days from the award of the contract and will be subject to SPD approval.

25. Aircraft Change: The SPD may make changes to its current aircraft fleet by adding additional makes/models during the term of the contract as well as adding or replacing equipment. Contractor will be given a minimum of sixty (60) days notification of any new aircraft or equipment to ensure that
specified in Section 4 above.

26. Computerized Parts Inventory: The Contractor shall maintain a computerized parts inventory of SPD parts during the entire term of this agreement and any subsequent extensions. The computerized parts inventory spreadsheet shall list all airframe and engine parts that are finite life items, and state the part number, component name, serial number, total time until overhaul/retirement, component time prior to overhaul/retirement, aircraft time when component/part installed, time on aircraft when part/component installed, overhaul part/component at aircraft total time, retire part/component at aircraft total time, hours remaining that part/component has left, estimated date when part/component needs to be replaced or overhauled, and the percentage of time the part/component has remaining.

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27. Spare Parts Inventory: The SPD maintains a limited spare parts inventory. When serviceable parts and/or supplies are furnished by the SPD, those items shall be utilized by the Contractor. The SPD will have the option to supply parts as needed. The Contractor is required to supply SPD with a list of parts, with a MSRP that exceeds $100, necessary to perform routine maintenance.

28. Safety Management System (SMS): Contractor shall have a demonstrated commitment to Safety Management System (SMS) integration. A demonstrated commitment to SMS integration is defined as having, at a minimum, a stand-alone safety policy, company-wide training in SMS, and actively improving SMS integration. Contractor must provide proof of compliance within sixty (60) days of the award of the contract and will be subject to SPD approval.

29. Mechanic Distraction Management: Contractor shall have a formal policy on distraction management to reduce or eliminate distractions during the actual conduct of maintenance actions. This policy shall include, but not be limited to, cell phone management. Contractor must provide proof of compliance within sixty (60) days of award of the contract and will be subject to SPD approval.

30. Ground and Flight Checks: All ground and flight checks shall be completed by an SPD pilot per the Rotorcraft Flight Manual (RFM) after maintenance and prior to releasing the aircraft into service. Ground and flight checks shall by documented in the aircraft logbook, and/or an electronic maintenance tracking system. When there is a discrepancy between the maintenance manuals and the RFM as to the requirement of a ground or flight check, the most conservative action shall be followed (for example: the RFM requires a flight check after work on the flight controls, but the maintenance manual does not, a flight check shall be performed because the RFM calls for one).

31. Contractor warrants that the manufacturer authorizes Contractor to perform overhaul and maintenance services on the engines/components in the SPD fleet. Contractor shall allow only skilled mechanics, which have been trained and licensed to perform overhaul and maintenance services under the contract. Contractor shall observe the highest standard of diligence and care in the performance of its overhaul and maintenance responsibilities and shall meticulously follow the standards and procedures required by the manufacturer (including all service bulletins) for overhaul and maintenance service.

The Contractor further warrants that with respect to any components overhauled the following applies:

1. All parts/components shall be free of defects in title, material, and workmanship.

2. All parts/components meet or exceed the specifications and requirements of the manufacturer.

3. Engine components are new, or if authorized by SPD, reconditioned to original

4. All parts/components shall be free of any patent infringements, proprietary rights or copyrights.

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5. Contractor further warrants that all services and parts provided shall be in strict conformity with all applicable regulations from the FAA.

32. Contractor: Contractor shall have a representative available by phone/cell phone 24 hours a day, seven days a week, to ensure the response of an appropriate current Bell or Cessna FAA certified A&P mechanic to emergency field service requests within the Greater Sacramento Area. Contractor must arrive in the field within four (4) hours of SPD call.

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SECTION III

BIDDER RESPONSE DOCUMENTS

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SECTION III BIDDER RESPONSE DOCUMENTS
A. ITEMS THAT MUST BE SUBMITTED BY SUCCESSFUL

BIDDER PRIOR TO START OF CONTRACT
The following documents are required to be completed and submitted by the successful bidder prior to the award of contract of the contract:

1. CERTIFICATE OF INSURANCE
Successful bidders are REQUIRED to submit the necessary Certificate(s) of Insurance as called for in the General Provisions prior to award of the contract.

2. BUSINESS OPERATIONS TAX CERTIFICATE
Chapter 3.08 of the Sacramento City Code requires that anyone conducting business in the City of Sacramento obtain a Business Operations Tax Certificate and pay the applicable tax if necessary.

Successful bidders will be REQUIRED to show compliance with this requirement prior to award of the contract.

To obtain information about the Business Operations Tax Certificate, contact the City of Sacramento, Revenue Division, 915 I Street, Room 1214, Sacramento, CA 95814, or telephone (916) 808-8500.

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City Council and Concurrent AuthoritiesJune 4, 2024

City Council and Concurrent Authorities
June 4, 2024