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MINUTES

CITY COUNCIL/SA

CITY HALL COUNCIL CHAMBER

38300 SIERRA HIGHWAY, SUITE B

PALMDALE, CALIFORNIA

JANUARY 13, 2026

5:00 PM

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

Mayor Ohlsen led the Pledge of Allegiance.

Interim City Manager Mendez requested that item 12.1 be withdrawn from the agenda.

4) PRESENTATIONS

4.1) Presentation recognizing City staff for their exceptional efforts, reliability, and

unwavering commitment to keeping our roads, utilities, and public spaces safe

and operational during severe weather events.

A video and certificates were presented to acknowledge and commend City staff

for their service.

4.2) Presentation on Formal Procurement Methods.

Director of Operations Samson provided a detailed PowerPoint presentation on

this item.

Councilmember Alarcón thanked staff for the presentation and asked about the

criteria for awarding the contract, and questioned the legality of providing the

information to the Council and the public.

City Attorney Severino provided clarification regarding the Request for

Qualifications for engineer/architect services and stated the information for the

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, CITY COUNCIL SUCCESSOR AGENCY ADJOURNED REGULAR MEETING CITY COUNCIL CHAMBER 38300 SIERRA HIGHWAY SUITE B PALMDALE, CA 93550 TUESDAY, JANUARY 13, 2026 5:00 PM www.cityofpalmdaleca.gov WELCOME City Council Tuesday, January 13, 2026 1

Public Hearings, Appointments, New Business, and Closed Session items. To address 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 Presentation recognizing City staff for their exceptional efforts, reliability, and unwavering commitment to keeping our roads, utilities, and public spaces safe and operational during severe weather events. 4.2 Presentation on Formal Procurement Methods. 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 Investment Activity Reports for November 2025. City Council Tuesday, January 13, 2026 2

SR Monthly Investment Reports November 2025.docx Rpt. Monthly Investment Reports November 2025.pdf 5.3 Adopt Resolution No. CC 2026-001, a Resolution of the City Council of the City of Palmdale restating the City's Investment Policy and repealing Resolution No. CC 2025-004, and adopt Resolution No. CC 2026-002, a Resolution of the City Council of the City of Palmdale restating the Investment Policy for the City contributions to the Retiree Health Reimbursement Arrangement (HRA) plan and the Retiree Health Premium Supplement (HPS) plan and repealing Resolution No. CC 2025-005. SR Adopt Reso. Nos. CC 2026-001 and CC 2026-002.docx Reso. No. CC 2026-001 City Investment Policy.docx Reso. No. CC 2026-002 Retiree Investment Policy.docx 5.4 Review and approve the amended Palmdale Aerospace Incentive Program Guidelines and Application in accordance with development milestones for new construction projects. SR Amended Palmdale Aerospace Incentive Program Guidelines and Application.docx Amended Palmdale Aerospace Incentive Program Guidelines and Application.pdf 5.5 Approve Construction Agreement with Azas Engineering, Inc., for PN 916, 3rd Street East ADA Improvements and Sidewalk Gap Closure Project for a total not to exceed amount of $435,065 for a term of 45 working days from the date of the Notice to Proceed. SR PN 916 3rd Street East.docx Agrmt No. A-9269 with Azas Engineering Inc.pdf Vicinity Map.pdf 5.6 Approve the First Amendment to Agreement with RHA Landscape Architects- Planners, Inc., for design services for PN 871, Oasis Park Basin Upgrades Project, increasing the agreement by $57,607 for a total not to exceed amount of $364,205 for a term of 12 months from the date of the Notice to Proceed. SR Agrmt No. A-9293 First Amendment with RHA Landscape Architects- Planners.docx Agrmt No. A-9293 First Amendment with RHA Landscape Architects-Planners.pdf Agrmt No. A-9293 with RHA Landscape Architects-Planners.pdf 5.7 Approve Second Amendment to Agreement for administrative services with California Choice Energy Authority (CalChoice) in the amount of $1,823,978 for a term of one year. SR Agrmt No. A-6826 Second Amendment with CalChoice.docx Agrmt No. A-6826 Second Amendment with CalChoice.docx Agrmt No. A-6826 First Amendment with CalChoice.pdf Agrmt No. A-6826 with CalChoice.pdf City Council Tuesday, January 13, 2026 3

5.8 Approve the minutes from the previous meeting. Mins 12 02 2025.pdf 6. PUBLIC HEARING - Now is the time for public participation. Each public hearing will have its own public testimony. 6.1 Continue item to February 3, 2026 - Adopt Ordinance No. 1665, an Ordinance of the City Council of the City of Palmdale amending Title 8, Health, Safety, and Technical Construction Codes of the Palmdale Municipal Code regarding eligibility requirements for organizations obtaining safe and sane firework permits and finding the ordinance exempt from environmental review. Memo Ord. No. 1665 Continuance.docx 7. APPOINTMENTS Now is the time for public participation. 7.1 Review and provide direction on changes to existing committee appointments. SR City Council Committee Appointments.docx 8. CITY MANAGER’S REPORT 9. SHERIFF'S REPORT 10. NON-AGENDA PUBLIC COMMENTS - Now is the time for public participation. 11. COUNCIL REPORTS, ANNOUNCEMENTS AND REQUESTS FOR FUTURE AGENDA ITEMS 11.1 Council Reports Monthly Informational Report 011326 Bishop.docx Monthly Informational Report 011326 Bettencourt.docx Monthly Informational Report 011326 Ohlsen.docx Monthly Informational Report 011326 Loa.docx 12. CLOSED SESSION - Now is the time for public participation. PRESENTATION BY CITY ATTORNEY 12.1 CONFERENCE WITH LEGAL COUNSEL – EXISTING LITIGATION Concerning CV Communities, LLC v. Antelope Valley-East Kern Water Agency, et al. City Council Tuesday, January 13, 2026 4

Los Angeles Superior Court 20STCV10953 This closed session is being held pursuant to the authority of California Government Code Section 54956.9(d)(1). 12.2 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). 12.3 PUBLIC EMPLOYEE PERFORMANCE EVALUATION Title: City Attorney This closed session is being held pursuant to the authority of California Government Code Section 54957. 13. ANNOUNCEMENT BY CITY ATTORNEY 14. ADJOURN meeting to February 3, 2026, at 5:00 p.m. in the City Hall Council Chamber located at 38300 Sierra Highway, Suite B, Palmdale, California. City Council Tuesday, January 13, 2026 5

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, CITY COUNCIL SUCCESSOR AGENCY ADJOURNED REGULAR MEETING CITY COUNCIL CHAMBER 38300 SIERRA HIGHWAY SUITE B PALMDALE, CA 93550 TUESDAY, JANUARY 13, 2026 5:00 PM www.cityofpalmdaleca.gov WELCOME City Council Tuesday, January 13, 2026

Public Hearings, Appointments, New Business, and Closed Session items. To address 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 Presentation recognizing City staff for their exceptional efforts, reliability, and unwavering commitment to keeping our roads, utilities, and public spaces safe and operational during severe weather events. 4.2 Presentation on Formal Procurement Methods. 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 Investment Activity Reports for November 2025. City Council Tuesday, January 13, 2026

SR Monthly Investment Reports November 2025.docx Rpt. Monthly Investment Reports November 2025.pdf 5.3 Adopt Resolution No. CC 2026-001, a Resolution of the City Council of the City of Palmdale restating the City's Investment Policy and repealing Resolution No. CC 2025-004, and adopt Resolution No. CC 2026-002, a Resolution of the City Council of the City of Palmdale restating the Investment Policy for the City contributions to the Retiree Health Reimbursement Arrangement (HRA) plan and the Retiree Health Premium Supplement (HPS) plan and repealing Resolution No. CC 2025-005. SR Adopt Reso. Nos. CC 2026-001 and CC 2026-002.docx Reso. No. CC 2026-001 City Investment Policy.docx Reso. No. CC 2026-002 Retiree Investment Policy.docx 5.4 Review and approve the amended Palmdale Aerospace Incentive Program Guidelines and Application in accordance with development milestones for new construction projects. SR Amended Palmdale Aerospace Incentive Program Guidelines and Application.docx Amended Palmdale Aerospace Incentive Program Guidelines and Application.pdf 5.5 Approve Construction Agreement with Azas Engineering, Inc., for PN 916, 3rd Street East ADA Improvements and Sidewalk Gap Closure Project for a total not to exceed amount of $435,065 for a term of 45 working days from the date of the Notice to Proceed. SR PN 916 3rd Street East.docx Agrmt No. A-9269 with Azas Engineering Inc.pdf Vicinity Map.pdf 5.6 Approve the First Amendment to Agreement with RHA Landscape Architects- Planners, Inc., for design services for PN 871, Oasis Park Basin Upgrades Project, increasing the agreement by $57,607 for a total not to exceed amount of $364,205 for a term of 12 months from the date of the Notice to Proceed. SR Agrmt No. A-9293 First Amendment with RHA Landscape Architects- Planners.docx Agrmt No. A-9293 First Amendment with RHA Landscape Architects-Planners.pdf Agrmt No. A-9293 with RHA Landscape Architects-Planners.pdf 5.7 Approve Second Amendment to Agreement for administrative services with California Choice Energy Authority (CalChoice) in the amount of $1,823,978 for a term of one year. SR Agrmt No. A-6826 Second Amendment with CalChoice.docx Agrmt No. A-6826 Second Amendment with CalChoice.docx Agrmt No. A-6826 First Amendment with CalChoice.pdf Agrmt No. A-6826 with CalChoice.pdf City Council Tuesday, January 13, 2026

5.8 Approve the minutes from the previous meeting. Mins 12 02 2025.pdf 6. PUBLIC HEARING - Now is the time for public participation. Each public hearing will have its own public testimony. 6.1 Continue item to February 3, 2026 - Adopt Ordinance No. 1665, an Ordinance of the City Council of the City of Palmdale amending Title 8, Health, Safety, and Technical Construction Codes of the Palmdale Municipal Code regarding eligibility requirements for organizations obtaining safe and sane firework permits and finding the ordinance exempt from environmental review. Memo Ord. No. 1665 Continuance.docx 7. APPOINTMENTS Now is the time for public participation. 7.1 Review and provide direction on changes to existing committee appointments. SR City Council Committee Appointments.docx 8. CITY MANAGER’S REPORT 9. SHERIFF'S REPORT 10. NON-AGENDA PUBLIC COMMENTS - Now is the time for public participation. 11. COUNCIL REPORTS, ANNOUNCEMENTS AND REQUESTS FOR FUTURE AGENDA ITEMS 11.1 Council Reports Monthly Informational Report 011326 Bishop.docx Monthly Informational Report 011326 Bettencourt.docx Monthly Informational Report 011326 Ohlsen.docx Monthly Informational Report 011326 Loa.docx 12. CLOSED SESSION - Now is the time for public participation. PRESENTATION BY CITY ATTORNEY 12.1 CONFERENCE WITH LEGAL COUNSEL – EXISTING LITIGATION Concerning CV Communities, LLC v. Antelope Valley-East Kern Water Agency, et al. City Council Tuesday, January 13, 2026

Los Angeles Superior Court 20STCV10953 This closed session is being held pursuant to the authority of California Government Code Section 54956.9(d)(1). 12.2 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). 12.3 PUBLIC EMPLOYEE PERFORMANCE EVALUATION Title: City Attorney This closed session is being held pursuant to the authority of California Government Code Section 54957. 13. ANNOUNCEMENT BY CITY ATTORNEY 14. ADJOURN meeting to February 3, 2026, at 5:00 p.m. in the City Hall Council Chamber located at 38300 Sierra Highway, Suite B, Palmdale, California. City Council Tuesday, January 13, 2026

https://attend.wordly.ai/join/SLOR-7400

City Council Staff Report DATE: JANUARY 13, 2026 TO: HONORABLE MAYOR AND CITY COUNCIL FROM: OPERATIONS DEPARTMENT FINANCE DIVISION DISTRICT: ALL SUBJECT: RECEIVE AND FILE THE MONTHLY INVESTMENT ACTIVITY REPORTS FOR NOVEMBER 2025 RECOMMENDATION Staff recommend that the City Council: 1. Receive and file the November 2025 monthly 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 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 November 2025 January 13, 2026 Page 2 DISCUSSION Compliance with Investment Policy For November, the City’s invested portfolio totaled $294,775,260, a decrease of $4,878,616 from the previous month and $16,957,697 less than the prior year. The monthly decrease was due to the investment maturity that occurred during the month. The funds from the maturity were used to cover expenditures related to a legal settlement that became due. It is expected that insurance will reimburse the expense in future months, and at that time, the City will evaluate available funds and reinvest accordingly. The par value of the Successor Agency’s portfolio as of November was $9,276,443, a decrease of $941,564 from the prior month due to debt service payments. 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 November was $103,815,128, no changes from the prior month. The Successor Agency’s LAIF balance at the end of November was $3,985,613, no changes from the prior month.

Report to Mayor and City Council Re: Monthly Investment Reports November 2025 January 13, 2026 Page 3 The City’s CAMP balance at the end of November was $53,910,080 compared to $53,729,148 in October. The increase is due to interest earned. The interest rates presented are the most current rates available as of the date of this report. As of November 30, 2025, the interest rates for LAIF and CAMP investments were 4.096 percent and percent, respectively. By comparison, the LAIF and CAMP interest rates at the end of October were 4.150 percent and 4.26 percent. This time last year, LAIF and CAMP rates were at 4.477 percent and 4.87, respectively. The chart above shows the LAIF and CAMP average monthly yields from February 2025 through November 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 reports include all investments held by both entities and current book values as of November 30, 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. 4.33% 4.31% 4.28% 4.27% 4.27% 4.26% 4.25% 4.21% 4.15% 4.10% 4.51% 4.47% 4.45% 4.42% 4.40% 4.41% 4.40% 4.36% 4.26% 4.10% 3.80% 3.90% 4.00% 4.10% 4.20% 4.30% 4.40% 4.50% 4.60% Feb Q3 Mar Apr May Q4 Jun July Aug Q1 Sep Oct Nov Pooled Investments Monthly Yields LAIF CAMP

Report to Mayor and City Council Re: Monthly Investment Reports November 2025 January 13, 2026 Page 4 Attached are summaries of the investments in the City and Successor Agency’s books as of November 30, 2025. FISCAL IMPACT $0; 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: 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 Investment Reports November 2025

CITY OF PALMDALE TREASURER'S REPORT OF INVESTMENTS NOVEMBER 30, 2025 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 2,976,600.00 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 07-12-21 12-31-25 CITY 9128285T3 U.S. Treasury Note 2.63 5,000,000.00 5,451,958.35 4,961,000.00 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 57,700,000.00$ 57,983,311.49$ 57,491,002.25$ GOVERNMENT AGENCY PAPER 06-30-21 12-30-25 CITY 3130AMRQ7 Federal Home Loan Note 0.88 3,000,000.00 3,000,000.00 2,949,049.86 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 66,230,000.00$ 64,597,434.03$ 65,230,962.80$ CITY OF PALMDALE INVESTMENTS

CITY OF PALMDALE TREASURER'S REPORT OF INVESTMENTS NOVEMBER 30, 2025 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 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 06-18-24 06-18-29 CITY 229083AA8 Evangeline Bank & Trust 5.30 245,000.00 245,000.00 245,115.79 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 2,440,000.00$ 2,444,416.30$ 2,460,779.03$ 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 49,231,271.14 49,231,271.14 49,231,271.14 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 100,136,812.59$ 100,136,812.59$ 103,815,128.43$ CAMP- CALIFORNIA ASSET MANAGEMENT PROGRAM 6080-01 n/a CITY 6080-01 0.30 53,910,079.79 53,910,079.79 53,910,079.79 TOTAL CAMP ACCOUNTS 53,910,079.79$ 53,910,079.79$ 53,910,079.79$

CITY OF PALMDALE TREASURER'S REPORT OF INVESTMENTS NOVEMBER 30, 2025 PURCHASE MATURITY ACCOUNT/ INTEREST PAR PURCHASE INVESTED DATE DATE FUND INSTITUTION RATE AMOUNT AMOUNT AMOUNT UBS FINANCIAL SERVICES n/a n/a CITY 0.00 304,963.72 304,963.72 304,963.72 TOTAL UBS FINANCIAL SERVICES ACCOUNTS 304,963.72$ 304,963.72$ 304,963.72$ TOTAL CITY INVESTMENTS 292,377,856.10$ 290,862,388.66$ 294,775,259.92$ 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 Agent: U.S. Bank National Association (fka First Trust) 05-10-95 n/a BOND 95421220 0.35 122.56 05-10-95 n/a IMPROVEMENT 95421222 0.10 178,115.07 TOTAL SIERRA GATEWAY COMMUNITY FACILITIES DISTRICT 91-1 178,237.63$ BOND PROCEEDS RITTER RANCH COMMUNITY FACILITIES DISTRICT 93-1 Fiscal Agent: U.S. Bank National Association (fka First Trust) 04-06-95 n/a RESERVE-SEN 95420880 n/a 14.13 04-06-95 n/a IMPV-ACQUI 95420884 0.01 2,964,733.10 04-06-95 n/a BOND 95420887 0.15 0.15 TOTAL RITTER RANCH COMMUNITY FACILITIES DISTRICT 93-1 2,964,747.38$ BOND PROCEEDS ANAVERDE COMMUNITY FACILITIES DISTRICT 2003-1 Fiscal Agent: U.S. Bank National Association (fka First Trust) 08-01-19 n/a SP TAX - B BOND 242969000 0.00 93.58 08-01-19 n/a RESERVE 242969003 0.00 722,957.02 08-01-19 n/a SP TAX - REFNDING BOND 242969004 0.01 15,151.91 TOTAL ANAVERDE COMMUNITY FACILITIES DISTRICT 2003-1 738,202.51$ LIBRARY INVESTMENTS FISCAL AGENT CASH

CITY OF PALMDALE TREASURER'S REPORT OF INVESTMENTS NOVEMBER 30, 2025 PURCHASE MATURITY ACCOUNT/ INTEREST PAR PURCHASE INVESTED DATE DATE FUND INSTITUTION RATE AMOUNT AMOUNT AMOUNT BOND PROCEEDS 2005 $7.2M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) REFUNDED 2021 Fiscal Agent: U.S. Bank National Association (fka First Trust) n/a SPEC TRB SER A/B 251009000 0.01 14,755.57 n/a RESERVE FUND 251009001 0.01 644,991.43 TOTAL 2005 $7.2M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) REFUNDED 2021 659,747.00$ BOND PROCEEDS 2006-1 GODDE HILL ESTATE SEWER IMPROVEMENTS LOIB Fiscal Agent: U.S. Bank National Association (fka First Trust) 11-08-06 n/a REDEMPTION FUND 106844000 0.01 29,578.79 11-08-06 n/a ADM EXP 106844002 0.01 1,832.83 11-08-06 n/a RESERVE FUND 106844003 0.01 86,826.90 TOTAL 2006-1 GODDE HILL ESTATE SEWER IMPROVEMENTS LOIB 118,238.52$ 2015 HA DEBT SERVICE RESERVE Fiscal Agent: Bank of America 11-19-15 n/a DEBT SVC RESERVE 1257964992 0.08 41,061.49 TOTAL 2015 HA DEBT SERVICE RESERVE 41,06