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MINUTES

CITY COUNCIL/SA

CITY HALL COUNCIL CHAMBER

38300 SIERRA HIGHWAY, SUITE B

PALMDALE, CALIFORNIA

FEBRUARY 3, 2026

www.cityofpalmdale.org

1) CALL MEETING TO ORDER

Mayor Ohlsen called the meeting to order at 5:01 pm.

Note: All City Council memberships are reflected in their City Council titles.

2) ROLL CALL

MAYOR OHLSEN, MAYOR PRO TEM BISHOP, COUNCILMEMBERS LOA,

BETTENCOURT, ALARCÓN

PRESENT: Eric Ohlsen, Austin Bishop, Richard J. Loa, Laura Bettencourt, Andrea

Alarcón.

ABSENT: None.

3) PLEDGE OF ALLEGIANCE AND MOMENT OFSILENCE

Councilmember Bettencourt led the pledge of allegiance.

4) PRESENTATIONS

4.1) Commendation to Roxanne Faber and Linda Willis in honor of their retirement

from the City of Palmdale.

Mayor Ohlsen presented Roxanne Faber and Linda Willis with a Commendation

in honor of their retirement from the City of Palmdale.

4.2) Planning / Building & Safety Divisions Update

Economic and Community Development Director Taggart presented the staff

report.

Planning Manager Magana gave an overview of the Planning Division's role

within the City, and Building Official George provided an overview of the Building

and Safety Division.

There was Council discussion regarding the statistics for projects in 2025 and

the housing element requirements. Building Official George responded. Mayor

LEGISLATIVE BODY ERIC OHLSEN, MAYOR AUSTIN BISHOP, MAYOR PRO TEM RICHARD J. LOA, COUNCILMEMBER LAURA BETTENCOURT, COUNCILMEMBER ANDREA ALARCÓN, COUNCILMEMBER The City of Palmdale offers live AI-powered translation and captions through Wordly in over 60 languages. Please scan the attached QR code or visit CityOfPalmdaleCA.Gov/JoinWordly. Translation QR Code. Translation QR Code.pdf 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. Public Comment Information Members of the public may speak for up to three (3) minutes on the Consent Calendar, Public Hearings, Appointments, New Business, and Closed Session items. To address CITY COUNCIL SUCCESSOR AGENCY CITY COUNCIL CHAMBER 38300 SIERRA HIGHWAY SUITE B PALMDALE, CA 93550 TUESDAY, FEBRUARY 3, 2026 5:00 PM www.cityofpalmdaleca.gov WELCOME City Council Tuesday, February 3, 2026 1

the Legislative Body on any agendized item, please complete a speaker card for the City Clerk and indicate the item you wish to speak on. Speaker cards are available in the foyer of the Council Chambers. Please follow these guidelines to ensure the meeting runs smoothly: All comments must be respectful and courteous. Comments that are personal, threatening, obscene, insulting, or that attack others or berate differing viewpoints will not be allowed. Individuals who violate these rules or disrupt the meeting will be ruled out of order by the Chair and must immediately stop speaking. Disruptive individuals may be asked to leave the meeting. 1. CALL MEETING TO ORDER Note: All City Council memberships are reflected in their City Council titles. 2. ROLL CALL MAYOR OHLSEN, MAYOR PRO TEM BISHOP, COUNCILMEMBERS LOA, BETTENCOURT, ALARCÓN 3. PLEDGE OF ALLEGIANCE AND MOMENT OF SILENCE 4. PRESENTATIONS 4.1 Commendation to Roxanne Faber and Linda Willis in honor of their retirement from the City of Palmdale. 4.2 Planning / Building & Safety Divisions Update PPT Planning and B&S Divisions Update 2026.pdf 5. CONSENT CALENDAR - Now is the time for public participation 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. 5.1 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). 5.2 Receive and file the Monthly and Quarterly Investment Activity Reports for December 2025. City Council Tuesday, February 3, 2026 2

SR Monthly Investment Reports December 2025.docx Rpt. Monthly and Quarterly Reports December 2025.pdf 5.3 Adopt Resolution No. CC 2026-004, a Resolution of the City Council of the City of Palmdale, dissolving the Palmdale Civic Authority. SR Reso. No. CC 2026-004.docx Reso. No. CC 2026-004.docx 5.4 Receive and file the City Manager Recruitment Update. SR City Manager Recruitment.docx 5.5 Approve Agreement with Onward Engineering for Construction Management and Observation Services for PN 869-A, Arterial Road Rehabilitation at Palmdale Boulevard Project, for a total not to exceed amount of $267,174 for a term of 150 working days from the date of the Notice to Proceed. SR Agrmt No. A-9641 with Onward Engineering.docx Agrmt No. A-9641 with Onward Engineering.pdf 5.6 Approve Agreement with Maestro Development, LLC, for Construction Management and Observation Services for PN 851, Melville J. Courson Park Revitalization Project for a total not to exceed amount of $456,500 for a term of 360 working days commencing from the date of the Notice to Proceed. SR Agrmt No. A-9642 with Maestro Development, LLC.docx Agrmt No. A-9642 with Maestro Development, LLC.pdf 5.7 Approve Agreement with Pacific Advanced Civil Engineering, Inc., for Professional Services for PN 788, Regional Basin Infrastructure Project, for a total not to exceed amount of $1,508,304 for a term of 36 months from the date of the Notice to Proceed. SR Agrmt No. A-9657 with Pacific Advanced Civil Engineering, Inc.docx Agrmt No. A-9657 with Pacific Advanced Civil Engineering, Inc.pdf Project Map.pdf 5.8 Approve the minutes from the previous meeting. Mins 01 13 2026.pdf 6. PUBLIC HEARING - Now is the time for public participation. Each public hearing will have its own public testimony. 6.1 Receive and file the Fiscal Year 2025-26 Annual Employee Vacancy Report in accordance with Assembly Bill 2561. SR FY 2025-26 Annual Employee Vacancy Report.docx 7. CITY MANAGER’S REPORT City Council Tuesday, February 3, 2026 3

8. NON-AGENDA PUBLIC COMMENTS - Now is the time for public participation. 9. COUNCIL REPORTS, ANNOUNCEMENTS AND REQUESTS FOR FUTURE AGENDA ITEMS 10. CITY ATTORNEY'S REPORT 10.1 Legislative and litigation update regarding Federal Immigration Enforcement. SR Litigation and Legislation update.docx LASD Policy Update 20250711.pdf LASD SB 627 20251217.pdf 11. CLOSED SESSION - Now is the time for public participation. PRESENTATION BY CITY ATTORNEY 11.1 PUBLIC EMPLOYEE PERFORMANCE EVALUATION Title: City Attorney This closed session is being held pursuant to the authority of California Government Code Section 54957. 11.2 CONFERENCE WITH LEGAL COUNSEL- ANTICIPATED LITIGATION Initiation of litigation: (2 cases) This closed session is being held pursuant to the authority of California Government Code Section 54956.9, paragraph (4) of subdivision (d). 11.3 PUBLIC EMPLOYMENT Title: City Manager Recruitment This closed session is being held pursuant to the authority of California Government Code Section 54957. 11.4 CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION Significant exposure to litigation: (1 potential case – facts and circumstances unknown to potential plaintiffs) This closed session is being held pursuant to the authority of California Government Code Section 54956.9, paragraph (2) of subdivision (d). 12. ANNOUNCEMENT BY CITY ATTORNEY 13. ADJOURN meeting to February 17, 2026, at 5:00 p.m. in the City Hall Council Chamber located at 38300 Sierra Highway, Suite B, Palmdale, California. City Council Tuesday, February 3, 2026 4

LEGISLATIVE BODY ERIC OHLSEN, MAYOR AUSTIN BISHOP, MAYOR PRO TEM RICHARD J. LOA, COUNCILMEMBER LAURA BETTENCOURT, COUNCILMEMBER ANDREA ALARCÓN, COUNCILMEMBER The City of Palmdale offers live AI-powered translation and captions through Wordly in over 60 languages. Please scan the attached QR code or visit CityOfPalmdaleCA.Gov/JoinWordly. Translation QR Code. Translation QR Code.pdf 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. Public Comment Information Members of the public may speak for up to three (3) minutes on the Consent Calendar, Public Hearings, Appointments, New Business, and Closed Session items. To address CITY COUNCIL SUCCESSOR AGENCY CITY COUNCIL CHAMBER 38300 SIERRA HIGHWAY SUITE B PALMDALE, CA 93550 TUESDAY, FEBRUARY 3, 2026 5:00 PM www.cityofpalmdaleca.gov WELCOME City Council Tuesday, February 3, 2026

the Legislative Body on any agendized item, please complete a speaker card for the City Clerk and indicate the item you wish to speak on. Speaker cards are available in the foyer of the Council Chambers. Please follow these guidelines to ensure the meeting runs smoothly: All comments must be respectful and courteous. Comments that are personal, threatening, obscene, insulting, or that attack others or berate differing viewpoints will not be allowed. Individuals who violate these rules or disrupt the meeting will be ruled out of order by the Chair and must immediately stop speaking. Disruptive individuals may be asked to leave the meeting. 1. CALL MEETING TO ORDER Note: All City Council memberships are reflected in their City Council titles. 2. ROLL CALL MAYOR OHLSEN, MAYOR PRO TEM BISHOP, COUNCILMEMBERS LOA, BETTENCOURT, ALARCÓN 3. PLEDGE OF ALLEGIANCE AND MOMENT OF SILENCE 4. PRESENTATIONS 4.1 Commendation to Roxanne Faber and Linda Willis in honor of their retirement from the City of Palmdale. 4.2 Planning / Building & Safety Divisions Update PPT Planning and B&S Divisions Update 2026.pdf 5. CONSENT CALENDAR - Now is the time for public participation 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. 5.1 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). 5.2 Receive and file the Monthly and Quarterly Investment Activity Reports for December 2025. City Council Tuesday, February 3, 2026

SR Monthly Investment Reports December 2025.docx Rpt. Monthly and Quarterly Reports December 2025.pdf 5.3 Adopt Resolution No. CC 2026-004, a Resolution of the City Council of the City of Palmdale, dissolving the Palmdale Civic Authority. SR Reso. No. CC 2026-004.docx Reso. No. CC 2026-004.docx 5.4 Receive and file the City Manager Recruitment Update. SR City Manager Recruitment.docx 5.5 Approve Agreement with Onward Engineering for Construction Management and Observation Services for PN 869-A, Arterial Road Rehabilitation at Palmdale Boulevard Project, for a total not to exceed amount of $267,174 for a term of 150 working days from the date of the Notice to Proceed. SR Agrmt No. A-9641 with Onward Engineering.docx Agrmt No. A-9641 with Onward Engineering.pdf 5.6 Approve Agreement with Maestro Development, LLC, for Construction Management and Observation Services for PN 851, Melville J. Courson Park Revitalization Project for a total not to exceed amount of $456,500 for a term of 360 working days commencing from the date of the Notice to Proceed. SR Agrmt No. A-9642 with Maestro Development, LLC.docx Agrmt No. A-9642 with Maestro Development, LLC.pdf 5.7 Approve Agreement with Pacific Advanced Civil Engineering, Inc., for Professional Services for PN 788, Regional Basin Infrastructure Project, for a total not to exceed amount of $1,508,304 for a term of 36 months from the date of the Notice to Proceed. SR Agrmt No. A-9657 with Pacific Advanced Civil Engineering, Inc.docx Agrmt No. A-9657 with Pacific Advanced Civil Engineering, Inc.pdf Project Map.pdf 5.8 Approve the minutes from the previous meeting. Mins 01 13 2026.pdf 6. PUBLIC HEARING - Now is the time for public participation. Each public hearing will have its own public testimony. 6.1 Receive and file the Fiscal Year 2025-26 Annual Employee Vacancy Report in accordance with Assembly Bill 2561. SR FY 2025-26 Annual Employee Vacancy Report.docx 7. CITY MANAGER’S REPORT City Council Tuesday, February 3, 2026

8. NON-AGENDA PUBLIC COMMENTS - Now is the time for public participation. 9. COUNCIL REPORTS, ANNOUNCEMENTS AND REQUESTS FOR FUTURE AGENDA ITEMS 10. CITY ATTORNEY'S REPORT 10.1 Legislative and litigation update regarding Federal Immigration Enforcement. SR Litigation and Legislation update.docx LASD Policy Update 20250711.pdf LASD SB 627 20251217.pdf 11. CLOSED SESSION - Now is the time for public participation. PRESENTATION BY CITY ATTORNEY 11.1 PUBLIC EMPLOYEE PERFORMANCE EVALUATION Title: City Attorney This closed session is being held pursuant to the authority of California Government Code Section 54957. 11.2 CONFERENCE WITH LEGAL COUNSEL- ANTICIPATED LITIGATION Initiation of litigation: (2 cases) This closed session is being held pursuant to the authority of California Government Code Section 54956.9, paragraph (4) of subdivision (d). 11.3 PUBLIC EMPLOYMENT Title: City Manager Recruitment This closed session is being held pursuant to the authority of California Government Code Section 54957. 11.4 CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION Significant exposure to litigation: (1 potential case – facts and circumstances unknown to potential plaintiffs) This closed session is being held pursuant to the authority of California Government Code Section 54956.9, paragraph (2) of subdivision (d). 12. ANNOUNCEMENT BY CITY ATTORNEY 13. ADJOURN meeting to February 17, 2026, at 5:00 p.m. in the City Hall Council Chamber located at 38300 Sierra Highway, Suite B, Palmdale, California. City Council Tuesday, February 3, 2026

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E C O N O M I C A N D C O M M U N I T Y D E V E L O P M E N T D E P A R T M E N T PLANNING / BUILDING & SAFETY DIVISIONS UPDATE City Council Meeting February 3, 2026

PLANNING DIVISION

Roles and Responsibilities PROCESS PLANNING AND BUSINESS LICENSE APPLICATIONS ENVIRONMENTAL REVIEW PLAN REVIEW DEVELOPMENT ADVISORY BOARD MEETINGS PLANNING COMMISSION

Planning Division Statistics 2025 Inquiry Type No. Calls 9,081 Counter Visits 2,167 Emails 11,722 Application Type No. New Business License 1,862 Business License Renewal 7,288 New Business Permits 59 Business Permit Renewal 157

Statistics Continued Application Type No. Received / Square Feet Total Applications 577 Pre-Applications 33 Zone Clearance 269 SFR under review 2,386 lots and 128 units SFR entitled 260 units Multi-Family under review 1,204 units Multi-Family entitled 795 units Commercial under review 106,170 square feet Commercial entitled 199,915 square feet Industrial under review 2,387,530 million square feet Industrial entitled 3,512,487 square feet EIRs under review 2 and 1 certified Environmental Documents under review 20 and 12 adopted

Single Family Residential Development • 3 Projects Approved • 10 Projects Under Review

Multi-family Residential Development • 9 Projects Under Review • 5 Projects Approved

Commercial Development • 4 Projects Under Review • 6 Projects Approved

Industrial Development • 8 Project Under Review • 8 Projects Approved

Contact Information Planning Division: 661/267-5200 planningdiv@cityofpalmdaleca.gov Business License: 661/267-5434 businesslicense@cityofpalmdaleca.gov

BUILDING AND SAFETY DIVISION

Roles and Responsibilities PROCESS BUILDING PERMIT APPLICATIONS AND PAYMENTS PLAN REVIEW BUILDING INSPECTIONS PARTICIPATE IN DEVELOPMENT ADVISORY BOARD MEETINGS COORDINATE WITH DEVELOPERS AND ASSIST CUSTOMERS OVER THE COUNTER MAINTAIN COMPLIANCE WITH FEDERAL AND STATE LEGISLATION

Building and Safety Statistics 2025 Applications Processed Plan Reviews Inspections Performed 6,382 10,315 17,961 Total Valuation(all permitted projects) $134,004,220

Building and Safety Development Guide Finalized and published the City’s comprehensive Development Guide, consolidating development requirements, submittal standards, and permitting steps into a single accessible resource to: • Streamline the process • Enhance efficiency • Providing essential resources • Providing Fee Examples

Adopted 2025 California Building Code • Ensured local regulations align with statewide code requirements • Implemented amendments to the PMC to allow for permit extensions up to 36 months • These changes reduce unnecessary reapplications and resubmittals, preserve completed City reviews, and streamline the path to permitting for projects

Permit Navigation Aid Updates Commercial Projects Section Online Navigation Aid on the City’s Website: • New Construction • Additions & Tenant Improvements • Cell Sites • EV Chargers • Industrial Waste

COMPLETED PROJECTS Juniper Valley Townhomes 25th St East / Avenue Q

Mister Car Wash 18th St East / Palmdale Blvd

COMING IN 2026 Knights Inn Project Homekey Conversion Division Street / Palmdale Blvd.

Saguaro Large Family Affordable Housing 15th St East / Avenue Q

Zenith on 25th Multifamily Affordable Housing Project 25th St East / Avenue Q

Bana at Palmdale Mixed Use Development 9th St E and Avenue Q

Together California 30th St East / Avenue R

Round One Bowling & Arcade Antelope Valley Mall

City Council Staff Report DATE: FEBRUARY 3, 2026 TO: HONORABLE MAYOR AND CITY COUNCIL FROM: OPERATIONS DEPARTMENT FINANCE DIVISION DISTRICT: ALL SUBJECT: RECEIVE AND FILE THE MONTHLY AND QUARTERLY INVESTMENT ACTIVITY REPORTS FOR DECEMBER 2025 RECOMMENDATION Staff recommend that the City Council: 1. Receive and file the December 2025 monthly and quarterly investment activity reports for the City of Palmdale and Successor Agency. 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 and quarterly 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 and Quarterly Investment Reports December 2025 February 3, 2026 Page 2 DISCUSSION Compliance with Investment Policy For December, the City’s invested portfolio totaled $304,112,309, an increase of $9,337,049 from the previous month and $8,332,493 decrease from prior year. The monthly increase was due to a transfer of excess funds from property taxes from General Fund to the Local Agency Investment Fund (LAIF). As of December, the par value of the Successor Agency’s portfolio was $8,935,771. This represents a decrease of $340,672 from the previous month, resulting from the required transfer of ROPS funds to the General Fund for ERAF and SERAF obligations. 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 City invests in two pooled funds, the Local Agency Investment Fund (LAIF) and the California Asset Management Program (CAMP). These are intended for daily operational activities and can be used during economic uncertainties for ongoing operating and maintenance needs. The pooled funds provide a higher liquidity ratio, ensuring the City and Successor Agency meet their cash flow requirements. The City’s LAIF balance at the end of December was $115,815,128, an increase of $12,000,000 due to the transfer of funds from the General Fund to LAIF. The Successor Agency’s LAIF balance at the end of December was $3,985,613, no changes from the prior month. The City’s CAMP balance at the end of December was $54,090,7455 compared to $53,910,080 in November. The increase is due to interest earned.

Report to Mayor and City Council Re: Monthly and Quarterly Investment Reports December 2025 February 3, 2026 Page 3 The interest rates presented are the most current rates available as of the date of this report. As of December 31, 2025, the interest rates for LAIF and CAMP investments were 4.025 percent and 3.95 percent, respectively. By comparison, the LAIF and CAMP interest rates at the end of November were 4.096 percent and 4.10 percent. This time last year, LAIF and CAMP rates were at 4.434 percent and 4.73, respectively. The chart above shows the LAIF and CAMP average monthly yields from March 2025 through December 2025. 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 investment portfolios to avoid incurring unreasonable and avoidable risks associated with specific security types or individual financial institutions. The City and Successor Agency’s investment portfolios remain strongly diversified. The monthly and quarterly reports include all investments held by both entities and current book values as of December 31, 2025. The City and Successor Agency are expected to have sufficient funds to meet their 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 December 31, 2025. 4.31% 4.28% 4.27% 4.27% 4.26% 4.25% 4.21% 4.15% 4.10% 4.03% 4.47% 4.45% 4.42% 4.40% 4.41% 4.40% 4.36% 4.26% 4.10% 3.95% 3.60% 3.70% 3.80% 3.90% 4.00% 4.10% 4.20% 4.30% 4.40% 4.50% 4.60% Q3 Mar Apr May Q4 Jun July Aug Q1 Sep Oct Nov Dec Pooled Investments Monthly Yields LAIF CAMP

Report to Mayor and City Council Re: Monthly and Quarterly Investment Reports December 2025 February 3, 2026 Page 4 FISCAL IMPACT $0; There is no fiscal impact associated with the recommended action 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: Janelle Samson, Director of Operations Certified as to availability of Funds: Janelle Samson, Director of Operations Approved by: Salvador Mendez, Interim City Manager Approved as to form: Alexandra Severino, City Attorney ATTACHMENTS Rpt. Monthly and Quarterly Investment Reports December 2025

CITY OF PALMDALE TREASURER'S REPORT OF INVESTMENTS DECEMBER 31, 2025 PURCHASE MATURITY ACCOUNT/ INTEREST PAR PURCHASE INVESTED DATE DATE FUND INSTITUTION RATE AMOUNT AMOUNT AMOUNT U.S. TREASURY SECURITIES Yield 05-11-21 02-28-26 CITY 9128286F2 U.S. Treasury Note 0.66 3,000,000.00 3,261,331.50 2,966,940.00 03-08-23 03-31-26 CITY 9128286L9 U.S. Treasury Note 2.25 3,200,000.00 3,029,330.80 3,156,832.00 01-03-24 12-31-26 CITY 912828YX2 U.S. Treasury Note 0.04 5,000,000.00 4,696,880.23 4,848,850.00 01-03-24 06-30-27 CITY 91282CEW7 U.S. Treasury Note 0.04 5,000,000.00 4,897,630.28 4,954,900.00 01-03-24 09-30-27 CITY 91282CFM8 U.S. Treasury Note 0.04 2,500,000.00 2,523,771.66 2,522,450.00 01-08-24 02-15-26 CITY 91282CGL9 U.S. Treasury Note 0.04 5,000,000.00 4,987,205.23 4,993,400.00 01-08-24 06-15-26 CITY 91282CHH7 U.S. Treasury Note 0.04 5,000,000.00 5,001,760.94 5,006,000.00 12-18-24 09-30-29 CITY 91282CFL0 U.S. Treasury Note 0.39 5,000,000.00 4,977,094.45 5,022,250.00 12-18-24 10-31-29 CITY 91282CFT3 U.S. Treasury Note 0.40 5,000,000.00 4,988,321.47 5,047,050.00 12-18-24 11-30-29 CITY 91282CFY2 U.S. Treasury Note 0.39 5,000,000.00 4,942,086.29 5,021,300.00 01-02-25 12-31-29 CITY 91282CGB1 U.S. Treasury Note 0.39 3,000,000.00 2,949,835.02 3,012,300.00 11-17-25 09-30-30 CITY 91282CPA3 U.S. Treasury Note 3.63 3,000,000.00 3,015,470.91 3,001,130.25 TOTAL U.S. TREASURY SECURITIES 49,700,000.00$ 49,270,718.78$ 49,553,402.25$ GOVERNMENT AGENCY PAPER 07-29-21 04-29-26 CITY 3130AN5C0 Federal Home Loan Note 1.05 4,000,000.00 4,010,455.13 3,899,120.00 12-21-21 12-22-26 CITY 3133ENJC5 Federal Farm Credit 1.29 5,000,000.00 5,000,000.00 4,814,666.55 06-24-22 02-26-27 CITY 3130AL5A8 Federal Home Loan Note 3.33 5,000,000.00 4,479,000.00 4,758,477.85 08-17-22 10-27-26 CITY 3134GW4C7 Freddie Mac 0.80 5,000,000.00 4,539,500.00 4,800,207.95 01-06-23 02-25-27 CITY 3130AQRH8 Federal Home Loan Note 4.38 5,000,000.00 4,590,638.89 4,843,987.40 01-06-23 04-19-27 CITY 3130ARHJ3 Federal Home Loan Note 4.38 5,000,000.00 4,801,354.86 4,925,508.20 05-03-24 05-01-28 CITY 3133ERCX7 Federal Farm Credit 5.17 5,000,000.00 5,000,000.00 5,022,317.60 08-08-24 08-14-29 CITY 3134HADY6 Freddie Mac Domestic 4.00 4,000,000.00 3,946,000.00 3,971,348.28 12-03-24 12-04-29 CITY 3130B3XP3 Federal Home Loan 4.50 1,000,000.00 1,000,000.00 998,973.31 12-04-24 12-02-27 CITY 3133ERE23 Federal Farm Credit 4.32 1,000,000.00 1,000,000.00 1,003,072.14 01-27-25 07-27-27 CITY 3130B4RC7 Federal Home Loan Bank 4.50 3,000,000.00 3,000,000.00 3,019,381.53 01-28-25 07-21-27 CITY 3130B4QA27 Federal Home Loan Bank 4.55 3,000,000.00 3,000,000.00 3,003,732.24 06-13-25 10-30-28 CITY 3130B62E5 Federal Home Loan Bank 4.25 3,000,000.00 3,000,000.00 3,000,982.74 06-27-25 04-30-29 CITY 3136GAGW3 Fannie Mae 4.75 5,000,000.00 5,000,000.00 4,993,056.90 07-07-25 07-07-28 CITY 3134HBWS6 Freddie Mac Domestic 4.00 2,000,000.00 1,995,000.00 1,995,000.00 08-29-25 02-25-30 CITY 3133ETUN5 Federal Farm Credit 4.45 5,000,000.00 5,000,000.00 5,000,000.00 09-17-25 09-15-28 CITY 3133ETXV4 Federal Farm Credit Bond 3.83 1,400,000.00 1,402,403.14 1,400,000.00 11-17-25 11-06-30 CITY 3130B8BF8 Federal Home Loan 3.95 830,000.00 833,082.01 832,080.25 TOTAL GOVERNMENT AGENCY PAPER 63,230,000.00$ 61,597,434.03$ 62,281,912.94$ CERTIFICATES OF DEPOSIT 01-04-24 06-15-26 CITY 05580A4Y7 BMW Bank of NA 4.03 240,000.00 243,434.40 241,276.80 01-04-24 12-28-28 CITY 09582YAV4 Blue Ridge Bank 4.09 240,000.00 240,948.00 241,135.20 06-11-24 06-11-26 CITY 38150VUZ0 Goldman Sachs Bank 5.05 245,000.00 245,033.90 247,179.52 06-13-24 06-13-29 CITY 89235MPP0 Toyota Financial SGS 4.65 245,000.00 245,000.00 250,250.86 06-14-24 06-15-26 CITY 34520LBC6 Forbright Bank 5.05 245,000.00 245,000.00 247,279.55 06-14-24 06-14-28 CITY 307811KA6 Farmers & Merchs Bank 5.00 245,000.00 245,000.00 246,517.02 06-17-24 06-17-26 CITY 8562855V9 State Bank of India 5.10 245,000.00 245,000.00 247,345.31 06-20-24 06-22-26 CITY 06051XER9 Bank of America NA 5.05 245,000.00 245,000.00 247,339.38 06-21-24 06-22-26 CITY 35634MAE1 Freedom Bank/Maywood NJ 5.05 245,000.00 245,000.00 247,339.60 TOTAL CERTIFICATES OF DEPOSIT 2,195,000.00$ 2,199,416.30$ 2,215,663.24$ CITY OF PALMDALE INVESTMENTS

CITY OF PALMDALE TREASURER'S REPORT OF INVESTMENTS DECEMBER 31, 2025 PURCHASE MATURITY ACCOUNT/ INTEREST PAR PURCHASE INVESTED DATE DATE FUND INSTITUTION RATE AMOUNT AMOUNT AMOUNT 05-17-23 03-01-26 CITY 30231GAT9 Exxon Mobile Corporation 3.04 1,000,000.00 982,084.11 992,306.58 05-17-23 03-02-26 CITY 194162AQ6 Colgate-Palmolive 4.80 1,000,000.00 1,035,553.33 1,004,192.41 05-17-23 01-26-26 CITY 742718FY0 Procter & Gamble 4.10 1,000,000.00 1,018,471.67 998,946.40 01-04-24 07-27-26 CITY 61761J3R8 Morgan Stanley 4.70 500,000.00 481,185.25 493,730.00 01-04-24 06-15-26 CITY 46625HRS1 JPMorgan Chase & CO 4.52 500,000.00 484,840.25 495,185.00 01-04-24 03-02-28 CITY 718172CE7 Philip Morris Intl Inc 4.49 500,000.00 474,395.25 487,000.00 01-04-24 04-01-27 CITY 808513BW4 Charles Schaw Corp 4.68 500,000.00 479,390.25 492,985.00 01-09-24 06-02-26 CITY 11271LAA0 Brookfield Fin Inc 5.13 500,000.00 490,115.25 498,735.00 01-09-24 11-28-28 CITY 05565QDH8 BP Capital Markets PLC 4.48 500,000.00 483,460.25 491,630.00 01-09-24 01-28-26 CITY 06406RAQ0 Bank OF NY Mellon Corp 4.52 500,000.00 463,355.25 489,620.00 01-09-24 07-09-27 CITY 22550L2K6 Crdit Suisse New York 4.92 500,000.00 500,910.25 507,650.00 01-09-24 08-15-28 CITY 797440CE2 San Diego G & E 4.49 500,000.00 509,340.25 510,425.00 01-09-24 07-01-27 CITY 75973QAA5 Reneissance Financial 5.01 500,000.00 475,470.25 492,385.00 01-09-24 01-27-26 CITY 780082AD5 Royal Bank of Canada 4.97 500,000.00 496,930.25 499,835.00 08-27-24 02-01-29 CITY 06406RBN6 Bank of NY Mellon Corp 4.20 656,000.00 663,116.29 660,965.92 08-27-25 07-26-29 CITY 06406RBK2 Bank of Melon Corp 4.09 1,000,000.00 1,021,952.92 1,021,952.92 08-27-25 08-09-29 CITY 89236TMK8 Toyota Motor Crdt Corp 4.03 500,000.00 510,587.75 510,587.75 08-27-25 05-13-30 CITY 91324PDX7 United Health Group Inc 4.15 1,000,000.00 914,211.92 914,211.92 TOTAL CORPORATE BONDS $11,656,000 $11,485,371 11,562,343.90$ STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND 09-01-84 n/a CITY 98-19-620 0.78 61,231,271.14 61,231,271.14 61,231,271.14 9-19-2024 n/a PFA 40-19-078 36,500,000.00 36,500,000.00 40,178,315.84 9-28-2021 n/a ARPA 19-19-004 0.78 14,405,541.45 14,405,541.45 14,405,541.45 TOTAL LAIF ACCOUNTS 112,136,812.59$ 112,136,812.59$ 115,815,128.43$ CAMP- CALIFORNIA ASSET MANAGEMENT PROGRAM 6080-01 n/a CITY 6080-01 0.30 54,090,744.99 54,090,744.99 54,090,744.99 TOTAL CAMP ACCOUNTS 54,090,744.99$ 54,090,744.99$ 54,090,744.99$ UBS FINANCIAL SERVICES n/a n/a CITY 0.00 8,593,112.91 8,593,112.91 8,593,112.91 TOTAL UBS FINANCIAL SERVICES ACCOUNTS 8,593,112.91$ 8,593,112.91$ 8,593,112.91$ TOTAL CITY INVESTMENTS 301,601,670.49$ 299,373,610.34$ 304,112,308.66$

CITY OF PALMDALE TREASURER'S REPORT OF INVESTMENTS DECEMBER 31, 2025 PURCHASE MATURITY ACCOUNT/ INTEREST PAR PURCHASE INVESTED DATE DATE FUND INSTITUTION RATE AMOUNT AMOUNT AMOUNT STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND 11-20-84 n/a LIBRARY 16-19-012 0.78 14,079.76 TOTAL LIBRARY INVESTMENTS 14,079.76$ SIERRA GATEWAY COMMUNITY FACILITIES DISTRICT 91-1 Fiscal