City Council/Successor Agency

1. CALL MEETING TO ORDER Note: All City Council memberships are reflected in their City Council titles. 2. ROLL CALL MAYOR BISHOP, MAYOR PRO TEM LOA, COUNCILMEMBERS OHLSEN, BETTENCOURT, ALARCÓN 3. PLEDGE OF ALLEGIANCE AND MOMENT OF SILENCE 4. PRESENTATION 4.1 AV EDGE Update. PUBLIC COMMENT RULES “(California Government Code Section 54954.3). (a) Every agenda for regular meetings shall provide an opportunity for members of the public to directly address the legislative body on any item of interest to the public, before or during the legislative body’s consideration of the item, that is within the subject matter jurisdiction of the legislative body, provided that no action shall be taken on any item not appearing on the agenda unless the action is otherwise authorized by subdivision (b) of Section 54954.2 [section omitted]. (b) (1) The legislative body of a local agency may adopt reasonable regulations to ensure CITY COUNCIL SUCCESSOR AGENCY CITY COUNCIL CHAMBERS 38300 SIERRA HIGHWAY SUITE B PALMDALE, CA 93550 WEDNESDAY, JULY 10, 2024 5:00 PM www.cityofpalmdaleca.gov WELCOME City Council Wednesday, July 10, 2024 1

that the intent of the subdivision (a) is carried out, including, but not limited to, regulations limiting the total amount of time allocated for public testimony on particular issues and for each individual speaker. (2) Notwithstanding paragraph (1), when the legislative body of a local agency limits time for public comment, the legislative body of a local agency shall provide at least twice the allotted time to a member of the public who utilizes a translator to ensure that non- English speakers receive the same opportunity to directly address the legislative body of a local agency.” In furtherance of Section 54954.3 of the Brown Act, the public is allotted to speak a total of two (2) minutes on the entirety of the Consent Calendar, Appointment(s), New Business and Closed Session, with two (2) minutes on each Public Hearing, and, if desired, an additional two (2) minutes on items not on the agenda that are within the subject matter jurisdiction of the City Council. As specified in the Brown Act, a speaker utilizing a translator will receive twice the amount of time specified. 5. PUBLIC COMMENTS CONSENT CALENDAR, APPOINTMENT(S), NEW BUSINESS, AND CLOSED SESSION: Now is the time for public participation on items listed on the Consent Calendar, Appointment(s), New Business, and Closed Session. Each speaker is allotted two (2) minutes in total for the entirety of the above sections. 6. CONSENT CALENDAR All matters listed under the Consent Calendar will be enacted by one motion unless an item(s) is pulled by Council, in which case the item(s) will be removed from the Consent Calendar and will be considered separately following this portion of the Agenda. 6.1 Waive full reading of the Resolution (s) and/or Ordinance(s) to be considered and voted on at this meeting. (This allows for reading the title only in lieu of reciting the entire text). 6.2 Receive and file the monthly investment activity reports for May 2024. SR Investment Report MAY 2024.docx Rpt. City & Sucessor Monthly Investment Activity Report May 2024.pdf 6.3 Approve First Amendment with Tripepi Smith & Associates, Inc., for comprehensive media, telecommunications, social media, community outreach, and all related or essential communications services to increase the amount by $2,458,000, for a total not to exceed amount of $2,938,000 for a term of two years with the option to extend the agreement for two additional one-year terms, after the initial 365-day term. SR Agrmt No. A-8626 First Amendment with Tripepi Smith.docx Agrmt No. A-8626 First Amendment with Tripepi Smith.pdf City Council Wednesday, July 10, 2024 2

Agrmt No. A-8626 with Tripepi Smith.pdf Exhibit A Agrmt No. A-8626 Tripepi Smith Proposal.pdf 6.4 Approve Agreement No. A-8891 with the Los Angeles County Department of Animal Care and Control to provide general animal services for a term of five years. SR Agrmt No. A-8891 with Los Angeles County Department of Animal Care and Control.docx Agrmt No. A-8891 with the Los Angeles County Department of Animal Care and Control.pdf Exh A Scope of Services.pdf 6.5 Approve Fourth Amendment to Agreement with RSG, Inc., for financial analysis services to increase the agreement by $60,000 for a not to exceed amount of $160,000 for the remainder of the term through 2026. SR Agrmt No A-7196 Fourth Amendment with RSG.docx Agrmt No. A-7196 Fourth Amendment with RSG, Inc.pdf Agrmt No. A-7196 Third Amendment with RSG, Inc.pdf Agrmt No. A-7196 Second Amendment with RSG, Inc.pdf Agrmt No. A-7196 First Amendment with RSG, Inc.pdf Agrmt No. A-7196 with RSG, Inc.pdf 6.6 Approve Consultant Agreement with Land Reports Company, Rick (Frederick) Jones, for Acting City Land Surveyor and plan check services in the amount of $200,000 for a term of one year. SR Agrmt No. A-8895 with Land Reports Company.docx Agrmt No. A-8895 with Land Reports Company.pdf 6.7 Notice of Completion - Accept public sewer improvements for Copart located at 42425 40th Street East. SR NOC 20-09.docx NOC 20-09.pdf Exh A List of Completed Public Improvements 20-09.pdf Exh B Site Map Location 20-09.pdf Exh C Aerial Site Map 20-09.pdf 6.8 Notice of Completion - Accept public sewer and drainage improvements for Tract 73068 located at Palmdale Boulevard & Oak Street. SR NOC 21-31.docx NOC 21-31.pdf Exh A List of Completed Public Improvements 21-31.pdf Exh B Site Map Location 21-31.pdf Exh C Aerial Site Map 21-31.pdf 6.9 Adopt Resolution No. CC 2024-061, a Resolution of the City Council of the City of Palmdale adopting the Joint Resolution of the Board of Supervisors of the County City Council Wednesday, July 10, 2024 3

of Los Angeles, acting on behalf of the County and other entities, the Board of Directors of the Antelope Valley Cemetery District, the Board of Trustees of the Antelope Valley Mosquito and Vector Control District, the Board of Directors of County Sanitation District No. 20 of Los Angeles County, the Board of Directors of the Antelope Valley Resource Conservation District, the City of Palmdale, and the Board of Directors of the Antelope Valley-East Kern Water Agency approving and accepting negotiated exchange of property tax revenues resulting from Annexation 40-157 (34-46), Local Agency Formation Commission Designation 2023-01, to the Los Angeles County Waterworks District No. 40, Antelope Valley. SR Reso. No. CC 2024-061.docx Reso. No. CC 2024-061.docx Atch 1 LA County Waterworks Transmittal Letter, Annex 40-157.pdf LA County Joint Reso. for Annexation No. 40-157.pdf Tax Sharing Worksheet.pdf Annexation Map No. 2023-01.pdf 6.10 Approve the minutes from the previous meeting. Minutes 06 26 2024.pdf 7. PUBLIC HEARING 7.1 Adopt Resolution No. CC 2024-034, a Resolution of the City Council of the City of Palmdale approving the Engineer's Report and the continuation of the levy and collection of assessments for Fiscal Year 2024-2025 for the City of Palmdale Drainage Benefit Assessment District No. 1 and No. 2006-02. SR Reso. No. CC 2024-034.docx Reso. No. CC 2024-034.docx Rpt. Fiscal Year 2024-25 Engineer's Report; Drainage Benefit Assessment Districts.pdf 7.2 Adopt Resolution No. CC 2024-037, a Resolution of the City Council of the City of Palmdale approving the Engineer's Report and the continuation of the levy and collection of assessments for Fiscal Year 2024-2025 for the City of Palmdale Landscape Maintenance Assessment Districts and Annexations, Park Maintenance and Recreation Improvement Districts, and Streetlight Maintenance Assessment Districts and Annexations. SR Reso. No. CC 2024-037.docx Reso. No. CC 2024-037.docx Rpt. Fiscal Year 2024-25 Combined Engineer's Report; Landscape Maintenance Assessment Districts and Annexations.pdf Rpt. Fiscal Year 2024-25 Engineer's Report; Park Maintenance and Recreation Improvement District.pdf Rpt. Fiscal Year 2024-25 Engineer's Report; Streetlight Maintenance Assessment District and Annexations.pdf City Council Wednesday, July 10, 2024 4

7.3 Adopt Resolution No. CC 2024-038, a Resolution of the City Council of the City of Palmdale updating the Sewer Collection Service Charge for the operation and maintenance of the Palmdale sewer collection system for Fiscal Year 2024-2025. SR Reso. No. CC 2024-038.docx Reso. No. CC 2024-038.docx Rpt. Fiscal Year 2024-25 Sewer Fee Report for Sewer Collection Service Charge.pdf 8. APPOINTMENTS 8.1 Approve Planning Commission Reappointments for Districts 1, 3, and 4. SR PC Reappointments.docx 8.2 Approve Appointment to The Palmdale Aerospace Academy Board of Directors. SR TPAA Appointment.docx 9. NEW BUSINESS 9.1 Adopt Resolution No. CC 2024-065, A Resolution of the City Council of the City of Palmdale approving the Parks and Recreation Master Plan. SR Parks And Recreation Master Plan.docx Reso. No. CC 2024-065.docx Exh A Parks and Recreation Master Plan.pdf PPT Parks and Recreation Master Plan Presentation.pptx 9.2 Adopt Resolution No. CC 2024-070, a Resolution of the City Council of the City of Palmdale ordering that an Ordinance be submitted to the voters at the General Municipal Election to be held on November 5, 2024, approving enacting an amendment to the City's Transactions and Use Tax, directing the City Attorney to prepare an Impartial Analysis of the Measure, setting priorities for filing a Written Argument relating to the Ballot Measure, and providing for Rebuttal Arguments relating to the Ballot Measure. SR Reso. No. CC 2024-070.docx Reso. No. CC 2024-070.docx Atch 1 Reso. No. CC 2024-070.docx 10. CITY MANAGER’S REPORT 11. SHERIFF'S REPORT 12. COUNCIL REPORTS, ANNOUNCEMENTS AND REQUESTS FOR FUTURE AGENDA ITEMS 12.1 Council reports, announcements, and requests for future agenda items. Monthly Informational Report 071024 Bishop.docx City Council Wednesday, July 10, 2024 5

Monthly Informational Report 071024 Loa.docx Montly Informational Report 071024 Bettencourt.docx Monthly Informational Report 071024 Ohlsen.docx 13. NON-AGENDA PUBLIC COMMENTS: Now is the time for public participation on items not listed on the agenda. Each speaker is allotted two (2) minutes total. 14. ADJOURN meeting to July 17, 2024, at 5:00 p.m. in the City Hall Council Chamber located at 38300 Sierra Highway, Suite B, Palmdale, California. Americans with Disabilities Act (ADA) Accommodations In accordance with the Americans with Disabilities Act of 1990, if you require a disability- related modification or accommodation to participate in this meeting, please contact the City Clerk’s Office at (661) 267-5151 at least 48 hours prior to the meeting. If you require oral translation, please contact the City Clerk’s Office at (661) 267-5151 at least 48 hours prior to the meeting. City Council Wednesday, July 10, 2024 6

1. CALL MEETING TO ORDER Note: All City Council memberships are reflected in their City Council titles. 2. ROLL CALL MAYOR BISHOP, MAYOR PRO TEM LOA, COUNCILMEMBERS OHLSEN, BETTENCOURT, ALARCÓN 3. PLEDGE OF ALLEGIANCE AND MOMENT OF SILENCE 4. PRESENTATION 4.1 AV EDGE Update. PUBLIC COMMENT RULES “(California Government Code Section 54954.3). (a) Every agenda for regular meetings shall provide an opportunity for members of the public to directly address the legislative body on any item of interest to the public, before or during the legislative body’s consideration of the item, that is within the subject matter jurisdiction of the legislative body, provided that no action shall be taken on any item not appearing on the agenda unless the action is otherwise authorized by subdivision (b) of Section 54954.2 [section omitted]. (b) (1) The legislative body of a local agency may adopt reasonable regulations to ensure CITY COUNCIL SUCCESSOR AGENCY CITY COUNCIL CHAMBERS 38300 SIERRA HIGHWAY SUITE B PALMDALE, CA 93550 WEDNESDAY, JULY 10, 2024 5:00 PM www.cityofpalmdaleca.gov WELCOME City Council Wednesday, July 10, 2024

that the intent of the subdivision (a) is carried out, including, but not limited to, regulations limiting the total amount of time allocated for public testimony on particular issues and for each individual speaker. (2) Notwithstanding paragraph (1), when the legislative body of a local agency limits time for public comment, the legislative body of a local agency shall provide at least twice the allotted time to a member of the public who utilizes a translator to ensure that non- English speakers receive the same opportunity to directly address the legislative body of a local agency.” In furtherance of Section 54954.3 of the Brown Act, the public is allotted to speak a total of two (2) minutes on the entirety of the Consent Calendar, Appointment(s), New Business and Closed Session, with two (2) minutes on each Public Hearing, and, if desired, an additional two (2) minutes on items not on the agenda that are within the subject matter jurisdiction of the City Council. As specified in the Brown Act, a speaker utilizing a translator will receive twice the amount of time specified. 5. PUBLIC COMMENTS CONSENT CALENDAR, APPOINTMENT(S), NEW BUSINESS, AND CLOSED SESSION: Now is the time for public participation on items listed on the Consent Calendar, Appointment(s), New Business, and Closed Session. Each speaker is allotted two (2) minutes in total for the entirety of the above sections. 6. CONSENT CALENDAR All matters listed under the Consent Calendar will be enacted by one motion unless an item(s) is pulled by Council, in which case the item(s) will be removed from the Consent Calendar and will be considered separately following this portion of the Agenda. 6.1 Waive full reading of the Resolution (s) and/or Ordinance(s) to be considered and voted on at this meeting. (This allows for reading the title only in lieu of reciting the entire text). 6.2 Receive and file the monthly investment activity reports for May 2024. SR Investment Report MAY 2024.docx Rpt. City & Sucessor Monthly Investment Activity Report May 2024.pdf 6.3 Approve First Amendment with Tripepi Smith & Associates, Inc., for comprehensive media, telecommunications, social media, community outreach, and all related or essential communications services to increase the amount by $2,458,000, for a total not to exceed amount of $2,938,000 for a term of two years with the option to extend the agreement for two additional one-year terms, after the initial 365-day term. SR Agrmt No. A-8626 First Amendment with Tripepi Smith.docx Agrmt No. A-8626 First Amendment with Tripepi Smith.pdf City Council Wednesday, July 10, 2024

Agrmt No. A-8626 with Tripepi Smith.pdf Exhibit A Agrmt No. A-8626 Tripepi Smith Proposal.pdf 6.4 Approve Agreement No. A-8891 with the Los Angeles County Department of Animal Care and Control to provide general animal services for a term of five years. SR Agrmt No. A-8891 with Los Angeles County Department of Animal Care and Control.docx Agrmt No. A-8891 with the Los Angeles County Department of Animal Care and Control.pdf Exh A Scope of Services.pdf 6.5 Approve Fourth Amendment to Agreement with RSG, Inc., for financial analysis services to increase the agreement by $60,000 for a not to exceed amount of $160,000 for the remainder of the term through 2026. SR Agrmt No A-7196 Fourth Amendment with RSG.docx Agrmt No. A-7196 Fourth Amendment with RSG, Inc.pdf Agrmt No. A-7196 Third Amendment with RSG, Inc.pdf Agrmt No. A-7196 Second Amendment with RSG, Inc.pdf Agrmt No. A-7196 First Amendment with RSG, Inc.pdf Agrmt No. A-7196 with RSG, Inc.pdf 6.6 Approve Consultant Agreement with Land Reports Company, Rick (Frederick) Jones, for Acting City Land Surveyor and plan check services in the amount of $200,000 for a term of one year. SR Agrmt No. A-8895 with Land Reports Company.docx Agrmt No. A-8895 with Land Reports Company.pdf 6.7 Notice of Completion - Accept public sewer improvements for Copart located at 42425 40th Street East. SR NOC 20-09.docx NOC 20-09.pdf Exh A List of Completed Public Improvements 20-09.pdf Exh B Site Map Location 20-09.pdf Exh C Aerial Site Map 20-09.pdf 6.8 Notice of Completion - Accept public sewer and drainage improvements for Tract 73068 located at Palmdale Boulevard & Oak Street. SR NOC 21-31.docx NOC 21-31.pdf Exh A List of Completed Public Improvements 21-31.pdf Exh B Site Map Location 21-31.pdf Exh C Aerial Site Map 21-31.pdf 6.9 Adopt Resolution No. CC 2024-061, a Resolution of the City Council of the City of Palmdale adopting the Joint Resolution of the Board of Supervisors of the County City Council Wednesday, July 10, 2024

of Los Angeles, acting on behalf of the County and other entities, the Board of Directors of the Antelope Valley Cemetery District, the Board of Trustees of the Antelope Valley Mosquito and Vector Control District, the Board of Directors of County Sanitation District No. 20 of Los Angeles County, the Board of Directors of the Antelope Valley Resource Conservation District, the City of Palmdale, and the Board of Directors of the Antelope Valley-East Kern Water Agency approving and accepting negotiated exchange of property tax revenues resulting from Annexation 40-157 (34-46), Local Agency Formation Commission Designation 2023-01, to the Los Angeles County Waterworks District No. 40, Antelope Valley. SR Reso. No. CC 2024-061.docx Reso. No. CC 2024-061.docx Atch 1 LA County Waterworks Transmittal Letter, Annex 40-157.pdf LA County Joint Reso. for Annexation No. 40-157.pdf Tax Sharing Worksheet.pdf Annexation Map No. 2023-01.pdf 6.10 Approve the minutes from the previous meeting. Minutes 06 26 2024.pdf 7. PUBLIC HEARING 7.1 Adopt Resolution No. CC 2024-034, a Resolution of the City Council of the City of Palmdale approving the Engineer's Report and the continuation of the levy and collection of assessments for Fiscal Year 2024-2025 for the City of Palmdale Drainage Benefit Assessment District No. 1 and No. 2006-02. SR Reso. No. CC 2024-034.docx Reso. No. CC 2024-034.docx Rpt. Fiscal Year 2024-25 Engineer's Report; Drainage Benefit Assessment Districts.pdf 7.2 Adopt Resolution No. CC 2024-037, a Resolution of the City Council of the City of Palmdale approving the Engineer's Report and the continuation of the levy and collection of assessments for Fiscal Year 2024-2025 for the City of Palmdale Landscape Maintenance Assessment Districts and Annexations, Park Maintenance and Recreation Improvement Districts, and Streetlight Maintenance Assessment Districts and Annexations. SR Reso. No. CC 2024-037.docx Reso. No. CC 2024-037.docx Rpt. Fiscal Year 2024-25 Combined Engineer's Report; Landscape Maintenance Assessment Districts and Annexations.pdf Rpt. Fiscal Year 2024-25 Engineer's Report; Park Maintenance and Recreation Improvement District.pdf Rpt. Fiscal Year 2024-25 Engineer's Report; Streetlight Maintenance Assessment District and Annexations.pdf City Council Wednesday, July 10, 2024

7.3 Adopt Resolution No. CC 2024-038, a Resolution of the City Council of the City of Palmdale updating the Sewer Collection Service Charge for the operation and maintenance of the Palmdale sewer collection system for Fiscal Year 2024-2025. SR Reso. No. CC 2024-038.docx Reso. No. CC 2024-038.docx Rpt. Fiscal Year 2024-25 Sewer Fee Report for Sewer Collection Service Charge.pdf 8. APPOINTMENTS 8.1 Approve Planning Commission Reappointments for Districts 1, 3, and 4. SR PC Reappointments.docx 8.2 Approve Appointment to The Palmdale Aerospace Academy Board of Directors. SR TPAA Appointment.docx 9. NEW BUSINESS 9.1 Adopt Resolution No. CC 2024-065, A Resolution of the City Council of the City of Palmdale approving the Parks and Recreation Master Plan. SR Parks And Recreation Master Plan.docx Reso. No. CC 2024-065.docx Exh A Parks and Recreation Master Plan.pdf PPT Parks and Recreation Master Plan Presentation.pptx 9.2 Adopt Resolution No. CC 2024-070, a Resolution of the City Council of the City of Palmdale ordering that an Ordinance be submitted to the voters at the General Municipal Election to be held on November 5, 2024, approving enacting an amendment to the City's Transactions and Use Tax, directing the City Attorney to prepare an Impartial Analysis of the Measure, setting priorities for filing a Written Argument relating to the Ballot Measure, and providing for Rebuttal Arguments relating to the Ballot Measure. SR Reso. No. CC 2024-070.docx Reso. No. CC 2024-070.docx Atch 1 Reso. No. CC 2024-070.docx 10. CITY MANAGER’S REPORT 11. SHERIFF'S REPORT 12. COUNCIL REPORTS, ANNOUNCEMENTS AND REQUESTS FOR FUTURE AGENDA ITEMS 12.1 Council reports, announcements, and requests for future agenda items. Monthly Informational Report 071024 Bishop.docx City Council Wednesday, July 10, 2024

Monthly Informational Report 071024 Loa.docx Montly Informational Report 071024 Bettencourt.docx Monthly Informational Report 071024 Ohlsen.docx 13. NON-AGENDA PUBLIC COMMENTS: Now is the time for public participation on items not listed on the agenda. Each speaker is allotted two (2) minutes total. 14. ADJOURN meeting to July 17, 2024, at 5:00 p.m. in the City Hall Council Chamber located at 38300 Sierra Highway, Suite B, Palmdale, California. Americans with Disabilities Act (ADA) Accommodations In accordance with the Americans with Disabilities Act of 1990, if you require a disability- related modification or accommodation to participate in this meeting, please contact the City Clerk’s Office at (661) 267-5151 at least 48 hours prior to the meeting. If you require oral translation, please contact the City Clerk’s Office at (661) 267-5151 at least 48 hours prior to the meeting. City Council Wednesday, July 10, 2024

City Council Staff Report DATE: JULY 10, 2024 TO: HONORABLE MAYOR AND CITY COUNCIL FROM: OPERATIONS DEPARTMENT FINANCE DIVISION DISTRICT: ALL SUBJECT: RECEIVE AND FILE THE MONTHLY INVESTMENT ACTIVITY REPORTS FOR MAY 2024 RECOMMENDATION Staff recommends that the City Council receive and file the monthly investment activity reports for the City of Palmdale and Successor Agency for May 2024. BACKGROUND Pursuant to Section 16 of the City and Successor Agency Investment Policy, the City Treasurer shall prepare and present monthly and quarterly reports on investments to the City Manager/Executive Director and the City Council/Directors. The reports shall detail the type of investment, issuer’s name, purchase date, maturity date, amount of deposit, and interest rate. This information shall be provided for all City and Successor Agency pooled investments and for Certificates of Participation, Revenue Bonds, Tax Allocation Bonds, Assessment Districts, and Community Facilities District accounts managed by outside Fiscal Agents. The monthly investment reports provide a synopsis of the City and Successor Agency's investment activity. They provide information on assets, allocations, average maturities, yields, and book valuations. The interest rates presented are the most current rates available as of the date of this report. The market values presented for pooled City and Successor Agency investments are based on closing prices for the related investment as of the date of this report. This information was obtained from the Wall Street Journal, Bloomberg Financial Markets, Capital Market Finances, or other reliable sources of market prices.

Report to Mayor and City Council Re: Monthly Investment Reports July 10, 2024 Page 2 DISCUSSION Compliance with Investment Policy For May, the City’s invested portfolio totaled $339,156,874, an increase of $4,608,813 from the previous month and an increase of $33,745,526 compared to last year. The monthly increase resulted from a new investment purchase made during the month and from interest earned from the California Asset Management Program (CAMP) and UBS Financial Services. The par value of Successor Agency’s portfolio as of May was $9,192,523. The balance decreased by $2,646 from last month due to operational payments made during the month. All investments meet criteria appropriate to Section 8 of the Investment Policy. The portfolios are based on a combination of various investments, including CDs, Corporate Notes, US Treasury Securities, and Government Agency Paper, each adhering to portfolio percentage limitations. The Finance Division is the custodian for the City and Successor Agency’s investment portfolio and follows the three main principles of both entities’ investment policies: 1) Investment in financial instruments that mitigate the risk of monetary losses stemming from market fluctuations; 2) Establish and maintain a portfolio that has sufficient liquidity to allow the City and Successor Agency to meet all anticipated cash requirements; and, 3) Seek out investment instruments that provide a competitive market rate of return. Liquidity One core approach the Finance Division focuses on is providing liquidity to meet the City and Successor Agency’s operational requirements. Thus, the Finance Division invests in two pooled funds, LAIF and CAMP. These are intended for daily operational activities and can be used during economic uncertainties for ongoing maintenance needs. The pooled funds provide a higher liquidity ratio to ensure the City and Successor Agency meet cash flow requirements. The City's LAIF balance at the end of May was $122,620,641, an increase of $1,270,999 from the prior month due to transferred funds into LAIF. The Successor Agency’s LAIF balance at the end of May was $8,150,476, with no changes from the prior month. The City’s CAMP balance at the end of May was $40,788,079, compared to $40,601,253 in April. The increase is due to interest earned during the month.

Report to Mayor and City Council Re: Monthly Investment Reports July 10, 2024 Page 3 The interest rates presented are the most current rates available as of the date of this report. As of May 31, 2024, the interest rates for LAIF and CAMP investments were at 4.332 percent and 5.43 percent, respectively. By comparison, the LAIF and CAMP interest rates at the end of April were 4.272 percent and 5.44 percent. This time last year, LAIF and CAMP rates were at 2.993 percent and 5.16, respectively. The chart above shows the LAIF and CAMP average monthly yields from August 2023 through May 2024. The difference between the two funds’ performance is primarily due to their varying pool characteristics. CAMP’s portfolio composition is more prone to market volatility, resulting in performance variations. Diversity The Finance Division aims to diversify the investment portfolios to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions. The City and Successor Agency’s investment portfolios remain strongly diversified. The monthly report includes all investments held by both entities and current book values as of May 31, 2024. The City and Successor Agency are expected to have sufficient funds to meet its expenditure requirements for the next six months. The Finance Division will continue to monitor current economic conditions and the impact on interest rates. Attached are summaries of the investments in the City and Successor Agency’s books as of May 31, 2024. 3.43% 3.53% 3.67% 3.84% 3.93% 4.01% 4.12% 4.23% 4.27% 4.33% 5.52% 5.55% 5.56% 5.58% 5.55% 5.54% 5.50% 5.48% 5.44% 5.43% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Aug Q1 Sep Oct Nov Q2 Dec Jan Feb Q3 Mar Apr May Pooled Investments Monthly Yields LAIF CAMP

Report to Mayor and City Council Re: Monthly Investment Reports July 10, 2024 Page 4 FISCAL IMPACT There is no fiscal impact associated with the recommended actions for this report. STRATEGIC PLAN Goal II: Ensure long-term fiscal health of the City and maintain funding for services. B. Manage resources, costs, and liabilities to ensure the City’s long-term fiscal health. C. Involve and expand engagement to enhance public oversight and transparency. Prepared by: Gohar Avetisyan, Senior Financial Analyst Certified as to availability of Funds: Janelle Samson, Director of Operations Approved by: Ronda Perez, City Manager Approved as to form: William P. Curley, III, City Attorney ATTACHMENTS Rpt. Monthly Investment Reports May 2024

CITY OF PALMDALE TREASURER'S REPORT OF INVESTMENTS MAY 31, 2024 PURCHASE MATURITY ACCOUNT/ INTEREST PAR PURCHASE INVESTED DATE DATE FUND INSTITUTION RATE AMOUNT AMOUNT AMOUNT U.S. TREASURY SECURITIES Yield 03-19-21 12-31-25 CITY 9128285T3 U.S. Treasury Note 2.63 3,000,000.00 3,260,634.36 2,856,570.00 05-11-21 02-28-26 CITY 9128286F2 U.S. Treasury Note 0.66 3,000,000.00 3,261,331.50 2,843,100.00 05-11-21 12-31-24 CITY 9128283P3 U.S. Treasury Note 0.40 3,000,000.00 3,200,040.56 2,872,020.00 07-12-21 12-31-25 CITY 9128285T3 U.S. Treasury Note 2.63 5,000,000.00 5,451,958.35 4,760,950.00 12-17-21 12-15-24 CITY 91282CDN8 U.S. Treasury Note 0.85 10,000,000.00 10,045,505.25 9,410,200.00 12-22-21 12-15-24 CITY 91282CDN8 U.S. Treasury Note 0.88 5,000,000.00 5,018,208.38 4,705,100.00 12-20-21 12-15-24 CITY 91282CDN8 U.S. Treasury Note 1.00 5,000,000.00 5,017,187.50 4,705,078.10 03-08-23 03-31-26 CITY 9128286L9 U.S. Treasury Note 2.25 3,200,000.00 3,029,330.80 3,010,496.00 01-03-24 12-31-26 CITY 912828YX2 U.S. Treasury Note 0.04 5,000,000.00 4,696,880.23 4,696,880.23 01-03-24 06-30-27 CITY 91282CEW7 U.S. Treasury Note 0.04 5,000,000.00 4,897,630.28 4,897,630.28 01-03-24 09-30-27 CITY 91282CFM8 U.S. Treasury Note 0.04 2,500,000.00 2,523,771.66 2,523,771.66 01-08-24 02-15-26 CITY 91282CGL9 U.S. Treasury Note 0.04 5,000,000.00 4,987,205.23 4,987,205.23 01-08-24 06-15-26 CITY 91282CHH7 U.S. Treasury Note 0.04 5,000,000.00 5,001,760.94 5,001,760.94 TOTAL U.S. TREASURY SECURITIES 59,700,000.00$ 60,391,445.04$ 57,270,762.44$ GOVERNMENT AGENCY PAPER 06-10-20 06-16-25 CITY 3133ELK37 Federal Farm Credit 0.78 5,000,000.00 5,000,000.00 4,604,401.25 08-27-20 11-27-24 CITY 3134GWNG7 Freddie Mac 0.50 2,000,000.00 2,000,000.00 1,867,580.54 04-01-21 04-01-25 CITY 3133EMUP5 Federal Farm Credit 0.71 5,000,000.00 5,000,000.00 4,629,334.75 05-11-21 09-04-25 CITY 3133EJYM5 Federal Farm Credit 0.59 1,000,000.00 1,103,275.25 963,220.00 05-11-21 09-04-25 CITY 3133EJYM5 Federal Farm Credit 0.57 2,000,000.00 2,208,460.00 1,926,440.00 06-04-21 11-07-25 CITY 3135G06G3 Fannie Mae 0.55 3,000,000.00 2,993,675.25 2,718,300.00 06-04-21 08-01-24 CITY 3130AMHH8 Federal Home Loan Note 0.41 4,000,000.00 4,000,000.00 3,784,890.08 06-07-21 06-07-24 CITY 3130AMQR6 Federal Home Loan Note 0.35 3,000,000.00 3,000,000.00 2,857,869.93 06-30-21 12-30-25 CITY 3130AMRQ7 Federal Home Loan Note 0.88 3,000,000.00 3,000,000.00 2,724,400.26 07-29-21 04-29-26 CITY 3130AN5C0 Federal Home Loan Note 1.05 4,000,000.00 4,010,455.13 3,606,160.00 12-17-21 11-12-25 CITY 3134GXBM5 Federal Home Loan Note 1.15 1,150,000.00 1,125,785.50 1,036,575.50 12-17-21 12-30-24 CITY 3130AQDY6 Federal Home Loan Note 1.00 6,750,000.00 6,750,000.00 6,327,843.39 12-17-21 06-23-25 CITY 3133ENHW3 Federal Farm Credit 1.17 10,000,000.00 10,000,000.00 9,275,883.70 12-20-21 07-30-25 CITY 3136G4ZP1 Fannie Mae 0.65 3,500,000.00 3,444,175.00 3,203,308.12 12-20-21 09-24-25 CITY 3134GWUG9 Freddie Mac 0.57 10,000,000.00 9,806,600.00 9,088,861.70 12-21-21 12-22-26 CITY 3133ENJC5 Federal Farm Credit 1.29 5,000,000.00 5,000,000.00 4,487,676.35 01-14-22 01-14-25 CITY 3130AQEA7 Federal Home Loan Note 1.05 7,000,000.00 7,000,000.00 6,561,152.22 06-29-22 08-12-25 CITY 3133EL3P7 Federal Farm Credit 3.34 1,810,000.00 1,660,349.20 1,650,002.84 06-29-22 03-28-25 CITY 3130A5DH9 Federal Home Loan Note 3.34 1,950,000.00 1,937,715.00 1,873,133.09 06-24-22 02-26-27 CITY 3130AL5A8 Federal Home Loan Note 3.33 5,000,000.00 4,479,000.00 4,355,784.25 08-17-22 10-27-26 CITY 3134GW4C7 Freddie Mac 0.80 5,000,000.00 4,539,500.00 4,429,309.65 01-06-23 02-25-27 CITY 3130AQRH8 Federal Home Loan Note 4.38 5,000,000.00 4,590,638.89 4,571,978.55 01-06-23 04-19-27 CITY 3130ARHJ3 Federal Home Loan Note 4.38 5,000,000.00 4,801,354.86 4,742,725.40 05-18-23 05-18-27 CITY 3133EPKC8 Federal Farm Credit 5.39 5,000,000.00 5,000,000.00 4,949,700.35 06-05-23 05-30-28 CITY 3133EPLE3 Federal Farm Credit 4.67 2,815,000.00 2,822,746.50 2,753,942.65 09-21-23 09-21-26 CITY 3130AXAP3 Federal Home Loan Note 5.75 4,750,000.00 4,746,437.50 4,747,196.18 05-03-24 05-01-28 CITY 3133ERCX7 Federal Farm Credit 5.17 5,000,000.00 5,000,000.00 5,000,000.00 TOTAL GOVERNMENT AGENCY PAPER 116,725,000.00$ 115,020,168.08$ 108,737,670.75$ CITY OF PALMDALE INVESTMENTS

CITY OF PALMDALE TREASURER'S REPORT OF INVESTMENTS MAY 31, 2024 PURCHASE MATURITY ACCOUNT/ INTEREST PAR PURCHASE INVESTED DATE DATE FUND INSTITUTION RATE AMOUNT AMOUNT AMOUNT CERTIFICATES OF DEPOSIT 01-04-24 06-15-26 CITY 05580A4Y7 BMW Bank of NA NA 4.03 240,000.00 243,434.40 243,434.40 01-04-24 11-30-27 CITY 46656MVH1 JPMorgan Chase Bank DE US RT 4.76 240,000.00 242,022.91 242,022.91 01-04-24 12-28-28 CITY 09582YAV4 Blue Ridge Bank NA VA US RT 4.09 240,000.00 240,948.00 240,948.00 TOTAL CERTIFICATES OF DEPOSIT 720,000.00$ 726,405.31$ 726,405.31$ CORPORATE NOTES 05-17-23 03-01-26 CITY 30231GAT9 Exxon Mobile Corporation 3.04 1,000,000.00 982,084.11 955,987.20 05-17-23 03-02-26 CITY 194162AQ6 Colgate-Palmolive CO GlobalL 4.80 1,000,000.00 1,035,553.33 1,003,302.97 05-17-23 01-26-26 CITY 742718FY0 Procter & Gamble CO/The Global 4.10 1,000,000.00 1,018,471.67 987,613.50 01-04-24 07-27-26 CITY 61761J3R8 Morgan Stanley 4.70 500,000.00 481,185.25 481,185.25 01-04-24 06-15-26 CITY 46625HRS1 JPMorgan Chase & CO 4.52 500,000.00 484,840.25 484,840.25 01-04-24 03-02-28 CITY 718172CE7 Philip Morris Intl Inc 4.49 500,000.00 474,395.25 474,395.25 01-04-24 04-01-27 CITY 808513BW4 Charles Schaw Corp 4.68 500,000.00 479,390.25 479,390.25 01-09-24 06-02-26 CITY 11271LAA0 Brookfield Fin Inc 5.13 500,000.00 490,115.25 490,115.25 01-09-24 11-28-28 CITY 05565QDH8 BP Capital Markets PLC 4.48 500,000.00 483,460.25 483,460.25 01-09-24 01-28-26 CITY 06406RAQ0 Bank OF NY Mellon Corp 4.52 500,000.00 463,355.25 463,355.25 01-09-24 07-09-27 CITY 22550L2K6 Crdit Suisse New York 4.92 500,000.00 500,910.25 500,910.25 01-09-24 08-15-28 CITY 797440CE2 San Diego G & E 4.49 500,000.00 509,340.25 509,340.25 01-09-24 07-01-27 CITY 75973QAA5 Reneissance Financial 5.01 500,000.00 475,470.25 475,470.25 01-09-24 01-27-26 CITY 780082AD5 Royal Bank of Canada 4.97 500,000.00 496,930.25 496,930.25 TOTAL CORPORATE BONDS $8,500,000 $8,375,502 8,286,296.42$ STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND 09-01-84 n/a CITY 98-19-620 0.78 64,822,736.10 64,822,736.10 64,822,736.10 06/23/08 n/a PCA 40-19-060 0.78 40,813,243.36 40,813,243.36 40,813,243.36 n/a ARPA 19-19-004 0.78 16,984,661.37 16,984,661.37 16,984,661.37 TOTAL LAIF ACCOUNTS 122,620,640.83$ 122,620,640.83$ 122,620,640.83$ CAMP- CALIFORNIA ASSET MANAGEMENT PROGRAM 6080-01 n/a CITY 6080-01 0.30 40,788,078.83 40,788,078.83 40,788,078.83 TOTAL CAMP AC