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URBAN FUTURES, INC. (4)
INSURANCE NOT ON FILE N-2025-249 WORK MAY NOT PROCEED CITY CLERK DATE; SEP 3 0 2025 PCs 4c pe(ez(pz) AGREEMENT WITH URBAN FUTURES, INC. TO PROVIDE FINANCIAL ADVISORY AND DISSEMINATION AGENT SERVICES THIS AGREEMENT is made and entered into on this 1 I th day of September,2025 by and between Urban Futures, Inc., a California corporation, ("Consultant"), and the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California("City"), RECITALS A. The City desires to retain a Consultant having special skill and knowledge in the field of: municipal financial services. B. Consultant represents that it is able and willing to provide such services to the City. C. In undertaking the performance of this Agreement, Consultant represents that it is knowledgeable in its field and that any services performed by Consultant under this Agreement will be performed in compliance with such standards as may reasonably be expected from a professional consulting firm in the field. NOW THEREFORE, in consideration of the mutual and respective promises, and subject to the terms and conditions hereinafter set forth, the parties agree as follows; 1. SCOPE OF SERVICES Consultant shall perform during the term of this Agreement, the tasks and obligations including all labor, materials, tools, equipment, and incidental customary work required to fully and adequately complete the services described and set forth in the Scope of Work,attached hereto and incorporated by references as Exhibit A, and in the Consultant's Proposal dated August 8, 2025, Exhibit B, attached hereto and incorporated by reference. Specifically, Consultant will act as financial advisor to the City, evaluating the financial impact of projects that materially affect the city's economic future, including the feasibility in issuing a pension obligation bonds, refunding existing debt to achieve debt service savings and providing investors along with regulatory agencies true, current and accurate financial information of the City. Consultant will also act as the financial advisor for the City when issuing of debt, and will also take part in performing due diligence, by conducting an RFP process, recommending the team of investment professionals (attorneys, underwriter, fiscal agent, consultants) who will assist the City with the process in issuing debt. 2. COMPENSATION a. City agrees to pay, and Consultant agrees to accept as total payment for its services for City, the rates and charges identified in Compensation -Exhibit C. The total amount to be expended during the tern of this Agreement shall not exceed $50,000. b. City shall recognize and compensate Consultant for any services provided since September 1, 2025. Page1ofX8 #2098087vl DI c. Payment by City shall be made within forty-five (45) days following receipt of proper invoice evidencing work performed, subject to City accounting procedures. City and Consultant agree that all payments due and owing under this Agreement shall be made through Automated Clearing House(ACH)transfers. Consultant agrees to execute the City's standard ACH Vendor Payment Authorization and provide required documentation. Upon verification of the data provided, the City will be authorized to deposit payments directly into Consultant's account(s) with financial institutions. Payment need not be made for work which fails to meet the standards of performance set forth in the Recitals which may reasonably be expected by City. 3. TERM This Agreement shall continence on the date First written above and continue through August 31, 2028,unless terminated earlier in accordance with Section 15, below. 4. INDEPENDENT CONTRACTOR Consultant shall, during the entire term of this Agreement, be construed to be an independent Consultant and not an employee of the City. This Agreement is not intended nor shall it be construed to create an employer-employee relationship, a joint venture relationship, or to allow the City to exercise discretion or control over the professional manner in which Consultant performs the services which are the subject matter of this Agreement; however, the services to be provided by Consultant shall be provided in a manner consistent with all applicable standards and regulations governing such services. Consultant shall pay all salaries and wages, employer's social security taxes, unemployment insurance and similar taxes relating to employees and shall be responsible for all applicable withholding taxes. 5. OWNERSHIP OF MATERIALS This Agreement creates a non-exclusive and perpetual license for City to copy, use, modify, reuse, or sublicense any and all copyrights, designs, and other intellectual property embodied in plans, specifications, studies, drawings, estimates, and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings or data magnetically or otherwise recorded on computer diskettes,which are prepared or caused to be prepared by Consultant under this Agreement ("Documents & Data"). Consultant shall require all subcontractors to agree in writing that City is granted a non-exclusive and perpetual license for any Documents & Data the subcontractor prepares under this Agreement. Consultant represents and warrants that Consultant has the legal right to license any and all Documents & Data. Consultant makes no such representation and warranty in regard to Documents & Data which were provided to Consultant by the City. City shall not be limited in any way in its use of the Documents and Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at City's sole risk. 6. INSURANCE Insurance requirements are attached hereto as Exhibit D. Page 2 of W 8 #2098087v1 7. INDEMNIFICATION Consultant agrees to defend, and shall indemnify and hold harmless the City, its officers, agents,employees, contractors, special counsel, and representatives from liability: (1)for personal injury, damages,just compensation,restitution,judicial or equitable relief arising out of claims for personal injury, including death, and claims for property damage, which may arise from the negligent operations of the Consultant, its subcontractors, agents, employees, or other persons acting on its behalf which relates to the services described in section 1 of this Agreement; and (2) from any claim that personal injury, damages,just compensation, restitution,judicial or equitable relief is due by reason of the terms of or effects arising from this Agreement. This indemnity and hold harmless agreement applies to all claims for damages,just compensation,restitution,judicial or equitable relief suffered,or alleged to have been suffered,by reason of the events referred to in this Section or by reason of the terms of, or effects, arising from this Agreement. The Consultant further agrees to indemnify,hold harmless, and pay all costs for the defense of the City,including fees and costs for special counsel to be selected by the City,regarding any action by a third party challenging the validity of this Agreement, or asserting that personal injury, damages, just compensation, restitution,judicial or equitable relief due to personal or property rights arises by reason of the terms of, or effects arising from this Agreement. City may make all reasonable decisions with respect to its representation in any legal proceeding.Notwithstanding the foregoing, to the extent Consultant's services are subject to Civil Code Section 2782.8, the above indemnity shall be limited, to the extent required by Civil Code Section 2782.8, to claims that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant. 8. INTELLECTUAL PROPERTY INDEMNIFICATION Consultant shall defend and. indemnify the City, its officers, agents, representatives, and employees against any and all liability, including costs, for infringement of any United States' letters patent,trademark,or copyright infringement,including costs,contained in the work product or documents provided by Consultant to the City pursuant to this Agreement. 9. RECORDS Consultant shall keep records and invoices in connection with the work to be performed under this Agreement. Consultant shall maintain complete and accurate records with respect to the costs incurred under this Agreement and any services, expenditures, and disbursements charged to the City for a minimum period of three(3) years, or for any longer period required by law, from the date of final payment to Consultant under this Agreement. All such records and invoices shall be clearly identifiable. Consultant shall allow a representative of the City to examine, audit, and make transcripts or copies of such records and any other documents created pursuant to this Agreement during regular business hours. Consultant shall allow inspection of all work, data, documents,proceedings, and activities related to this Agreement for a period of three (3)years from the date of final payment to Consultant under this Agreement. 10. CONFIDENTIALITY If Consultant receives from the City information which due to the nature of such Page 3 of OS ##2098087v1 07 information is reasonably understood to be confidential and/or proprietary, Consultant agrees that it shall not use or disclose such information except in the performance of this Agreement, and further agrees to exercise the same degree of care it uses to protect its own information of like importance, but in no event less than reasonable care. "Confidential Information"shall include all nonpublic information. Confidential information includes not only written information, but also information transferred orally, visually, electronically, or by other means. Confidential information disclosed to either party by any subsidiary and/or agent of the other party is covered by this Agreement. The foregoing obligations of non-use and nondisclosure shall not apply to any information that(a)has been disclosed in publicly available sources; (b)is,through no fault of the Consultant disclosed in a publicly available source; (c) is in rightful possession of the Consultant without an obligation of confidentiality; (d) is required to be disclosed by operation of law; or(e) is independently developed by the Consultant without reference to information disclosed by the City. 11. CONFLICT OF INTEREST CLAUSE a. Consultant covenants that it presently has no interests and shall not have interests, direct or indirect, which would conflict in any manner with performance of services specified under this Agreement. b. No immediate family members of either the Mayor, City Council Member, or any appointed City Official, including appointed board and commission members, as defined under the City's Municipal Code, whose position with the City shall award or influence the award of this Agreement, or any competing contract or amendment thereof, shall be employed in any capacity by the Consultant or have any other direct or indirect financial benefit or interest in this Agreement. c. The section also prohibits the awarding of any agreement, contract, grant, or any amendment to those awards, to any former full-time employee for one-year from date of employee separation except for any CalPERS retiree as authorized by City Council resolution d. The Consultant must comply with ali conflict of interest laws, ordinances, and regulations now in effect or hereafter to be enacted during the term of this Agreement. The Consultant warrants that it is not now aware of any facts which conflict with the prohibitions defined above. If the Consultant hereafter becomes aware of any facts that might reasonably be expected to create a conflict of interest,it must immediately make full written disclosure of such facts to the City. Full written disclosure must include, but is not limited to, identification of all persons implicated and a complete description of all relevant circumstances. Failure to comply with the provisions of this paragraph will be a material breach of this Agreement. e. Consultant covenants that none of its directors, officers, employees, or agents shall participate in selecting or administrating any subcontract supported(in whole or in part) by City funds stemming from the Agreement where the awarding of the subcontract has any direct or indirect financial benefit or interest to any individual, as defined in Page 4 of-"8 #2098087vl DDZ subsections (b) and(c) above, 12. NON-DISCRIMINATION Consultant shall not discriminate because of race, color, creed,religion, sex,marital status, sexual orientation, gender identity, gender expression, gender, medical conditions, genetic information, or military and veteran status, age, national origin, ancestry, or disability, as defined and prohibited by applicable law, in the recruitment, selection, teaching, training, utilization, promotion,termination or other employment related activities or any services provided under this Agreement. Consultant affirms that it is an equal opportunity employer and shall comply with all applicable federal, state and local laws and regulations. 13. EXCLUSIVITY AND AMENDMENT This Agreement represents the complete and exclusive statement between the City and Consultant, and supersedes any and all other agreements, oral or written, between the parties. In the event of a conflict between the terms of this Agreement and any attachments hereto, the terms of this Agreement shall prevail. This Agreement may not be modified except by written instrument signed by the City and by an authorized representative of Consultant. The parties agree that any terms or conditions of any purchase order or other instrument that are inconsistent with, or in addition to,the terns and conditions hereof, shall not bind or obligate Consultant or the City. Each party to this Agreement acknowledges that no representations, inducements, promises or .agreements, orally or otherwise, have been made by any party, or anyone acting on behalf of any party,which is not embodied herein. 14. ASSIGNMENT Inasmuch as this Agreement is intended to secure the specialized services of Consultant, Consultant may not assign, transfer, delegate, or subcontract any interest herein without the prior written consent of the City and any such assignment, transfer, delegation or subcontract without the City's prior written consent shall be considered null and void. Nothing in this Agreement shall be construed to limit the City's ability to have any of the services which are the subject to this Agreement performed by City personnel or by other Consultants retained by City. 15. TERMINATION This Agreement may be terminated by the City upon thirty (30) days written notice of termination. In such event, Consultant shall be entitled to receive and the City shall pay Consultant compensation for all services performed by Consultant prior to receipt of such notice of termination, subject to the following conditions: a. As a condition of such payment, the Executive Director may require Consultant to deliver to the City all work product(s) completed as of such date, and in such case such work product shall be the property of the City unless prohibited by law, and Consultant consents to the City's use thereof for such puiposes as the City deems appropriate. Page 5 of41W$ #2098087v1 0� b. Payment need not be made for work which fails to meet the standard of performance specified in the Recitals of this Agreement, 16. WAIVER No waiver of breach, failure of any condition, or any right or remedy contained in or granted by the provisions of this Agreement shall be effective unless it is in writing and signed by the party waiving the breach, failure,right or remedy.No waiver of any breach, failure or right, or remedy shall be deemed a waiver of any other breach, failure, right or remedy, whether or not similar,nor shall any waiver constitute a continuing waiver unless the writing so specifies. 17. JURISDICTION-VENUE This Agreement has been executed and delivered in the State of California and the validity, interpretation, performance, and enforcement of any of the clauses of this Agreement shall be determined and governed by the laws of the State of California, Both parties further agree that Orange County,California,shall be the venue for any action or proceeding that may be brought or arise out of, in connection with or by reason of this Agreement. 18. PROFESSIONAL LICENSES Consultant shall, throughout the term of this Agreement, maintain all necessary licenses, permits, approvals,waivers, and exemptions necessary for the provision of the services hereunder and required by the laws and regulations of the United States, the State of California, the City of Santa Ana and all other governmental agencies. Consultant shall notify the City immediately and in writing of its inability to obtain or maintain such permits, licenses, approvals, waivers, and exemptions. Said inability shall be cause for termination of this Agreement, 19. NOTICE Any notice, tender,demand, delivery, or other communication pursuant to this Agreement shall be in writing and shall be deemed to be properly given if delivered in person or mailed by first class or certified mail,postage prepaid, or sent by fax or other telegraphic communication in the manner provided in this Section, to the following persons: To City; City Clerk City of Santa Ana 20 Civic Center Plaza(M-30) P.O. Box 1988 Santa Ana, CA 92702-1988 Fax: 714- 647-6956 With courtesy copies to: Executive Director, Page 6 of-W 8 #2098087v1 D� Finance and Management Services Agency City of Santa Ana 20 Civic Center Plaza(M-17) P.O. Box 1988 Santa Ana, California 92702 To Consultant: Urban Futures, Inc. Attn: Michael Busch, Chief Strategy Officer 1470 Maria Lane, Ste. 315 Walnut Creek, CA 94596 A party may change its address by giving notice in writing to the other party. Thereafter, any communication shall be addressed and transmitted to the new address. If sent by mail, communication shall be effective or deemed to have been given three (3) days after it has been deposited in the United States mail, duly registered or certified, with postage prepaid, and addressed as set forth above. If sent by fax, communication shall be effective or deemed to have been given twenty-four(24)hours after the time set forth on the transmission report issued by the transmitting facsimile machine, addressed as set forth above. For purposes of calculating these time frames, weekends, federal, state, County or City holidays shall be excluded, 20. MISCELLANEOUS PROVISIONS a. Each undersigned represents and warrants that its signature herein below has the power, authority and right to bind their respective parties to each of the terms of this Agreement, and shall indemnify City fully, including reasonable costs and attorney's fees, for any injuries or damages to City in the event that such authority or power is not, in fact, held by the signatory or is withdrawn. b. All Exhibits referenced herein and attached hereto shall be incorporated as if fully set forth in the body of this Agreement. [signature page to follow] Page 7 of W$ #2098087v1 qz IN WITNESS WHEREOF, the parties hereto have executed this Agreement the date and year first above written. ATTEST: CITY OF S TA AN AAA ennifer L. all Ivaro Nunez City Clerk City Manager APPROVED AS TO FORM: SONIA R. CARVALHO CONSULTANT: City Attorney �44Lu Andrea Garcia-Miller Michael Busch Assistant City Attorney Chief Strategy Officer RECOMMENDED FOR APPROVAL: Ale.anaer Trinitlaa 1`�P FI.I.o25 s.;�S[rare Alex Trinidad Executive Director Finance and Management Services Agency Page 8 off S #2098087v1 Qz EXHIBIT A SCOPE OF SERVICES #2098087vl �. OVERVIEW OF PROJECT The City of Santa Ana (hereinafter referred to as "City") Is seeking Proposals from qualified firms (hereinafter referred to as"Proposer") to provide the following services: • Municipal Financial advisory services o Advisory Services (non-bond financing related) o Advisory Services related to bond financing • Dissemination agent services. Proposers must demonstrate successful experience in providing both municipal financial advisory services noted along with dissemination agent services. The services utilized will assist the Finance and Management Services Agency (Finance), other City departments and the City's Continuing Disclosure Committee to evaluate outstanding debt, potential debt financing, and develop the annual Continuing Disclosure reports in compliance with securities rules and regulations. Within the next twenty-four or thirty-six months, the City anticipates evaluating the feasibility issuing or refunding the following debt: New Debt Issuances o Water Capital Projects, including Advanced Meter Infrastructure o Sewer Capital Projects o Street Capital Projects o Pension Obligation Bonds o Assessment District Projects As of April 30, 2025, the City has the following outstanding debt: i $44,160,000 Water Revenue Bonds, Series 2024 • $1,585,000 2016 Limited Obligation Improvement Bonds • $13,605,000 Tax Allocation Refunding Bonds Series 2018A (Tax-Exempt) * $58,705,000 Tax Allocation Refunding Bonds Series 2018B (Federally Taxable) • $44,650,000 Gas Tax Revenue Refunding Bonds, Series 2019 • $425,830,000 2021 Taxable Pension Obligation Bonds, Series A • $45,060,000 2014 Lease Agreement (Private Placement) • $954,954 2015 Tax-Exempt Equipment Lease-Purchase Agreement (Private Placement) • $1,462,000 2017 Tax-Exempt Equipment Lease-Purchase Agreement (Private Placement) • $7,052,662 2018 Tax-Exempt Equipment Lease-Purchase Agreement (Private Placement) • $1,529,220 2023 SWRCB Loan No. D2201000 (Septic to Sewer Island Project) • $5,290,000 2023 SWRCB Loan No. D2202003 (Well No. 32 Project) • $10,117,365 2023 SWRCB Loan No. D2202006 (Water AMI Project) Please refer to the City's most recently completed Comprehensive Annual Financial Report available on the City's website at: https://www.santa-ana.org/docu ments/2024-ann ual-comprehensive-financial-report/ The City reserves the right to enter into an agreement with a single firm to provide services as specified herein or multiple firms at its discretion. If. SCOPE OF SERVICES Consultant shall perform services as set forth below. The City's objectives for a General Financial Advisa Services non-bond financing related), that may not be directly related to a current or proposed debt issue, include but not limited to the following: 1. Provide on-call advice as requested by the City in relation to any an all financial matters, to include detailed research and updates on financial market conditions that may affect the City through regular reporting. 2. Review of existing and restructuring opportunities of outstanding debt, 3. Provide financial analysis and scenarios for various financial purposes. 4. Meet with the Executive Director of Finance on a quarterly basis (if applicable), to discuss existing market conditions that may impact the City's Debt portfolio and/or 5. Provide information and forecasts of economic and general market conditions. 6. Assist with the preparation of meetings with City Staff including scheduling, meeting agenda, and the preparation of minutes. 7. Provide financial presentations to the City Council, City Council Committees and/or other governing boards if necessary. 8. Assist staff with the development of Request for Proposals (RFPs)for the review and selection of various professional services providers during the course of an engagement. 9. Perform other financial advisory services and/or special projections as may be required by the Executive Director of Finance. 10. On annual basis review and amend (if necessary) the City's Policies; for compliance with applicable rules and regulations, including but not limited to the following: Continuing Disclosure; Debt Management; Statement of Investment Policy; and Fiscal/Reserve Policy. The City's objectives for a General Financial Advisory Services (bond financing related) include, but are not limited to the following: 1. Review of existing bonds and restructuring opportunities of outstanding debt. 2. Provide financial analysis and scenarios for various financial purposes. 3. Understand bond defeasance and refinancing under post-redevelopment. 4. Provide information and forecasts of economic and general market conditions. 5. Assist with the preparation of meetings including development of financing schedule, meeting agenda, and the preparation of minutes. 6. Provide financial presentations to the City Council, City Council Committees and/or other governing boards. 7. Advise on timing, method, structure of bond sales and assist with coordination of bond financing team. 8. Assist staff with the development of RFPs for the review and selection of various professional services providers ("Bond Team")during the course of a debt issuance. 9. Assist with the review of legal and financing documents in coordination with the Continuing Disclosure Committee, the City Attorney's Office, bond counsel, and underwriter. 10. Assist with the development of credit rating strategies for full optimization which may include presentation materials, phone calls and/or meetings with rating agencies. The City's objectives for a Dissemination Agent-include, but are not limited to the following: 1. Work with the Continuing Disclosure Committee in developing and posting the annual continuing disclosure reports. 2. Conduct Continuing Disclosure Training on as needed basis. 3. Consultant shall develop a database of all the City's continuing disclosure requirements. The Consultant shall use the database as a mechanism to monitor, track, and review reporting and filing requirements including commitments outline in the continuing disclosure agreements, indentures, leases,and all other applicable agreements. 4. Consultant shall upon request, prepare ad hoc reports as needed. Consultant shall also be prepared to attend and present to City Council as a subject matter expert on continuing disclosure. 5. Consultant shall actively notify the City of pending reporting deadlines or material events. The Consultant shall also prepare and assemble material event notices and/or other required notices. 6. Consultant shall work closely with the City to develop a communication plan that will facilitate the coordination and the gathering of data (statistical, financial, and operational) from the required City departments. This includes creating a checklist that outlines email reminder notification dates and deadline submittals to ensure all relevant information. is collected. 7. Consultant shall provide copies of the complete and final version of the Continuing Disclosure Report to the City. The selected firm shall on a regular basis or at the City's discretion review,examine, and evaluate applicable SEC rule(s), bond covenants, and any other compliance regulations, The Consultant shall also keep the City informed of any regulatory changes on a periodic basis. EXHIBIT B CONSULTANT'S PROPOSAL 42098087v1 City of Santa Ana Proposal for Financial Advisory and Dissemination • • Agent Services Urban Futures, Inc. August 8, 2025 p0'WNTOWN NGE COUNTY MT ME (io"' Y F I 'w Public Finance Public Management lAnalytics & Compliance City of Santa Ana Proposal for Financial Advisory Services August 8, 2025 Table of Contents CoverLetter...................................................................................................................................................................1 A. Firm and Team Experience.......................................................................................................................................1 1.Team Qualifications-........I............. ...................-I.....I.............. ............... ....................................................I........1 2. Firm Qualifications....................................................................................................................................................4 B. Cost Proposal..........................................................................................................................................................14 Appendix A: Professional Resumes—UFI Team Members................................................................ .......................16 Appendix B:UFI Transaction List................................................................................................................................21 AppendixC:SEC Form MA.............................. .............. .............................................................................. ...22 OU F I U ' 1 Financial Solutions August 8,2025 Jacques Lam I Buyer Finance&Management Services Agency 20 Civic Center Plaza I Santa Ana,CA 92701 Re: Urban Futures, Inc.—Request for Proposals-Municipal Financial Advisory and Dissemination Agent Services Dear Mr. Lam: Urban Futures, Inc. (UFI) is pleased to submit this proposal to the City of Santa Ana (the City) for the purpose of providing objective and independent municipal financial advisory and dissemination agent services to the City. As one of California's leading municipal advisory firms,we believe we are uniquely positioned to provide the City with a high level of service from an experienced team of California-based professionals. We feel privileged to have had a long-standing relationship with the City since 2013, and we are proud to have supported a wide range of critical initiatives during that time. No other municipal advisory firm brings the same depth of knowledge or familiarity with the City's financial landscape. Our team understands the City's goals, financing needs,current debt portfolio,and operational priorities,and we are excited to build on that foundation as we continue supporting the City in its next chapter. We have strived to provide the City with tailored, strategic guidance across a range of financing tools and policy issues. Looking ahead, our commitment remains the same: to serve as an extension of City staff, deliver sound financial strategies,and support the City's long-term vision. The following is a summary of our distinguishing expertise and services: • #1 Ranked California Municipal Advisor: UFI has been a leader in providing financial advisory services since 1972 to over 300 public agencies throughout California. UFI is ranked as the top financial advisory firm in California over the last 5-year period as measured by the number of transactions completecK UFI is in the market virtually every week,advising on more bond sales than any other firm. • Relevant and Local Experience: Our experience assisting cities in Southern California gives us a firm grasp on the local economic landscape as well as the unique challenges and opportunities faced by the City.We regularly engage with cities in Southern California to advise on public facilities financings, often bridging municipal advisory activities and analysis with in-house consulting engagements leading to successful economic development. • Experienced Personnel: The team assigned to the City includes professionals with deep expertise across enterprise and general fund credits, credit analysis, pricing execution for bond sales, as well as post- issuance compliance services, and financial forecasting. UFI's municipal advisors and consultants include a former city finance director/assistant city manager, special district general counsel, public finance investment bankers, and a rating agency analyst,which allows us to offer the City a comprehensive blend of qualifications and resources. With advisors based in Southern California, we are available to meet with the City as often as is necessary to complete upcoming assignments. Source:SDC Platinum(Thomson Reuters) OU F I 1 I F T 1 Financial Solutions • Technical Competence:Providing our clients with responsive and high-quality analytical services is central to our corporate mission. Our advisors have extensive financial modeling and credit analysis experience directly related to the types of debt issued by the City. In addition,UFI has extensive experience advocating for our clients through preparing best-in-class rating presentations. Our priority is to help the City execute future financings at the lowest possible cost while maintaining its strong credit position. Working with the City is very important to us. UFI is committed to dedicating as much of the firm's resources to the City as is necessary, and to completing assignments in a comprehensive and timely fashion.Thank you very much for your consideration. Sincerely, k� - F_ Tik, Michael Busch James P. Morris,JD, MUP Branden Kfoury Chief Strategy Officer Managing Director Director (714)923-3541 (714)923-3542 (714)923-3560 michaelb@urbanfuturesinc.com jamesm@urbanfuturesinc.com brandenk@urbanfuturesinc.com IUFI 2 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 A. Firm and Team Experience 1. Team Qualifications • Project Manager/Principal Agent—The Project Manager/Principal Agent shall be the primary contact person to represent your firm. Describe assigned Project Manager/Principal Agent's education, qualifications, and relevant experience to lead a financing team; Provided below is the contact information for the project manager assigned to this engagement. Mr. Busch has served as the City's municipal advisor continuously since 2013 and brings extensive experience and familiarity with the City's financial operations and long-term objectives. Primary Contact: Michael Busch,Chief Strategy Officer Office: (714)923-3541 E-mail: michaelb@urbanfuturesinc.com • Key personnel&Associates in charge when Project Manager/Principal Agent is unavailable; For the scope of services outlined in the RFC, we are assigning ProfectTeamoreanizationa{Chad three senior level municipal advisors as well as the firm's Series 54 principal, who oversees compliance activities for the firm. Strategy Michael Busch will serve as the primary contact and will have overall responsibility for client service delivery;Branden Kfoury Michael Busch will serve as transaction manager for municipal advisory ChiefstrategyoWicer services, and will provide day-to-day coverage. James Morris, , Managing Director, will serve as the primary contact for Transaction Manager Lead Contact continuing disclosure services. Wing-See Fox, Managing Branden Kfoury, James Morris, Director and Series 54 principal, will be responsible for Director ManaP.Director 91 overseeing the municipal advisory activities to ensure Compliance—Series 54 compliance with MSRB rules and other applicable regulations. Principal Cumulatively,the core project team assigned to the City has Wing-See Fox, over 20 years of experience working with the City of Santa _Managing Director Ana,and maintains extensive experience assisting cities in Southern California with the execution of general fund financings,enterprise fund financings,and other economic development assignments. We are committed to delivering consistent, high-quality service throughout the term of the agreement. For each financing engagement, UFI assigns a minimum of two municipal advisors to provide both strategic guidance and day- to-day responsiveness.The designated project manager is supported by a broader team of professionals with deep expertise in the full range of financing mechanisms utilized by the City.This staffing approach ensures continuity, responsiveness,and a consistently high level of service for the duration of the engagement. Provided below is a summary of the assigned team,qualifications,education,and relevant experience. 9/ UFI 1 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8,2025 UFl Team Biographies—Key Personnel Municipal Advisory _ Michael Busch,Chief Strategy Officer (714)923-3541 Role:Financing Strategy/Primary Contact Office Location:Southern California Experience: Michael is a seasoned municipal executive and public finance professional with 30 years in public finance with the last 18 years at Urban Futures, Inc.(UFI),where he served f as owner and Chief Executive Officer before becoming Chief Strategy Officer. His career includes senior leadership roles as Assistant City Manager and Finance Director, guiding public agencies with strategic fiscal management and operational leadership. Michael has advised cities,special districts,and nonprofits across California, helping them identify emerging trends, navigate complex policy issues, share best practices, and advance their missions through sound fiscal and economic strategies. Over his career,he has structured and managed more than$5 billion in tax-exempt and taxable debt, including lease revenue bonds/COPS, water and wastewater revenue bonds, pension obligation bonds, tax allocation bonds,CFD and assessment district bonds,and New Market Tax Credits.Recognized for linking prudent fiscal policies with economic development objectives,Michael has helped deliver numerous high-priority projects for communities statewide. His current and recent clients include the Water Replenishment District of Southern California, Walnut Valley Water District, and the Cities of Eastvale, Ontario, San Jacinto, Pomona, Oceanside, Azusa, Banning, Beaumont, Lake Elsinore, and Menifee. Branden Kfoury,Director 1 (714)923-3560 Role:Transaction Manager/Day-ta-day coverage Office Location:Southern California Experience: Branden Kfoury joined Urban Futures in 2019. He has worked on a variety of debt offerings for cities and special districts in California including, but not limited to utility revenue bonds,general obligation bonds, lease revenue bonds, CFD and assessment district bonds, as well as tax allocation bonds. Mr. Kfoury has extensive experience in all aspects of the bond financing process and excels at providing value-added debt structuring, credit and quantitative analysis. Since joining UFI,Mr. Kfoury has assisted with financing and consulting assignments for the Cities of Encinitas, Newport Beach, Eastvale, Ontario, Fullerton, Pasadena, and Menifee. Previously, Mr. Kfoury worked as a Senior Associate at Fieldman, Rolapp &Associates where he supported the firm's city and special district clients. Mr. Kfoury has held prior roles in public finance investment banking,bond insurance, as well as in the technology industry. Mr. Kfoury passed the CFA Level I Exam in May 2025. Continuing Disclosure&Financial Forecasting Services James P. Morris,Managing Director Role:PMG Financial Forecasting/Consulting Lead Office Location:Southern California Experience:James has over twenty-five years of experience working in the fields of financial analysis, municipal law and public agency governance.Jim specializes in assisting cities and w special districts in the areas of long-term forecasting, financial sustainability and comprehensive fiscal assessments. His recent engagements include revenue enhancement analysis for the Cities of San Mateo, South San Francisco, Cupertino and San Leandro,financial forecast models for numerous municipal clients including the Cities of South San Francisco, East Palo Alto,Alameda,Albany,Culver City, Pomona, Huntington Beach and more), preparing fiscal sustainability plans for the cities of Pomona and Colton, and developing a comprehensive fiscal assessment for the City of Corona. Mr. Morris also has responsibility for managing and guiding UFI's Analytics and Compliance practice group which includes continuing disclosure and CDIAC reporting compliance for municipal issuers.Jim began his professional career as a public law attorney with Best Best&Krieger,where he served as Assistant City Attorney for the cities of Corona and Ontario, and General Counsel for Western Municipal Water District. Jim is a graduate of Dartmouth College and received both a Juris Doctorate and Master of Urban Planning from UCLA. 'ffUFi 2 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 Municipal Advisory Compliance _ - - Wing-See Fox,Managing Director ) (650)503-1500 Role:Series 54 Principal Office Location:Northern California Experience: Wing-See Fox is the Series 54 Municipal Advisor Principal of UFI and leads the Public Finance Group. Wing-See has over a decade of experience in the fields of municipal advising, public finance, and municipal securities. She has worked on over $3 billion in municipal debt offerings for various credits, including general obligation bonds for cities and special districts.Wing-See focuses on California cities and excels in transaction management, credit analysis,developing funding alternatives,and structuring bond transactions to meet the needs of the issuer while maximizing credit strength and marketability to investors. Prior to joining UFI in 2017,Wing-See worked as a public finance investment banker.She is an active member of the Northern California Chapters of Women in Public Finance(WIP)and Asian Americans in Public Finance(AAPF)as well as CSMFO.Wing-See received an MBA from Columbia Business School, MSW from Columbia University School of Social Work, and BA from Stanford University. Her current and recent clients include the Cities of Victorville, Oceanside, Goleta, Watsonville, Cosumnes CSD,Atascadero,and Manteca. • Resumes of project team that outline relevant experience and education—At a minimum,this should include the firm's Project Manager/Principal Agent assigned to the City of Santa Ana, key personnel, firm size, and an organization chart identifying those who will assist the City. Professional resumes forthe primary assigned staff and additional support staff available to assist the City are included in Appendix A. • References(maximum of three)of key projects completed by identified key personnel. We encourage you to contact any of our recent clients listed below to learn more about their experience and satisfaction with UFI.Our firm has a strong track record of serving a diverse range of cities and special districts across California, including full-service cities comparable in size and complexity to Santa Ana.This breadth of experience reflects our ability to support agencies with varying needs, priorities,and financial structures. OntarioCity of Armen Harkalyan,Executive Director of Finance Phone: (909)395-2355 E-mail: aharkalyan@ontarioca.gov 200 North Cherry Avenue,Ontario,CA 91764 Scope of Work: MA services for 2025 Lease Revenue Bonds,2024 Water Revenue Bonds,Various CFD Bond Issues and CFD Formations;financial forecast UFI Personnel: Michael Busch,James Morris and Branden Kfoury City of Pomona Andrew Mowbray,Finance Director/City Treasurer Tel: (909)620-2353; E-mail: Andrew.Mowbray@pomonaca.gov 505 South Garey Avenue, Pomona, California 91766 Scope of Work: Municipal Advisory Services for Tax Allocation Bonds,Capita) Lease, Pension Obligation Bonds; Pension Analysis Services; Continuing Disclosure Services UFI Personnel: Michael Busch and James Morris UFI City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 City of Fullerton Toni Smart,CPA, Deputy Director of Administrative Services Tel: (714)738-3139; E-mail: Tonette.smart@cityoffullerton.com 303 W.Commonwealth Ave., Fullerton, CA 92832 Scope of Work: Municipal Advisory Services for Tax Allocation Bonds,Capital Lease,CFD Bonds, CFD formation, Pension Analysis Services;Continuing Disclosure Services UFI Personnel: Branden Kfoury and James Morris 2. Firm Qualifications • Company background—Description of firm, history,size, and geographic focus and why Contractor is qualified to provide the services described in this RFP; UFI IS A TOP-RANKED MUNICIPAL ADVISOR Since 1972, Urban Futures, Inc. (UFJ), has provided municipal advisory services to hundreds of California cities, special Urban Futures., Inc. districts, redevelopment agencies, counties, schools, V/ 53 years in community colleges, and non-profits. UFI is registered as an business Independent Registered Municipal Advisor (IRMA) with the 18 registered MAs Municipal Securities Rulemaking Board (MSRB) and the 2 Series •. Securities and Exchange Commission(SEC). V 100% . public UFI is a California-based, California-focused firm, combining a agencies top-ranked municipal advisory practice with a financial ranked CA firm since 2017* consulting practice that has decades of public finance and Maria Creek Lane I Walnut Creek,CA 94596 executive-level government experience. Clients engage our • firm to provide a range of services,including municipal advisory *Source:SDC Platinum,Equal to each manager assignments for debt issuance across a multitude of credits, capital funding analysis and preparation of finance plans, and non-municipal advisory services including post- issuance compliance financial forecasting,tax and revenue analysis, and development of fiscal strategies. Our firm has 22 employees, 18 of whom are Series-50 licensed municipal advisors, including 7 based in Southern California. In addition, UFI has two registered Series 54 Principals wo are responsible for overseeing the municipal advisory activities of the firm to ensure compliance with MSRB rules and other applicable regulations. We believe our extensive experience with California municipalities, and strong understanding of local policy, legal, and market environments make us well-qualified to provide the services described in this RFQ. For the scope of services outlined in the RFQ professionals from our Public Finance Group and Compliance and Analytics Group will be assigned to provide municipal advisory and dissemination agent services to the City. UFI provides additional services,including financial forecasting and fiscal assessmenttools via our Public Management Group.A description of the three main UFI divisions is provided below: Public Finance Group ("PFG") provides municipal advisory services, debt analysis, financing plans, and access to capital markets for various transaction types, including Enterprise Revenue Bonds, General Obligation Bonds, Tax Increment financings, Real Property Leases, Equipment Leases, Land Secured Bonds,and Pension Obligation Bonds, as well as Public Private Partnerships (P3), and Enhanced Infrastructure Financing Districts (EIFDs). We help staff evaluate and implement various financing options for priority projects(including bonds,revolving lines of credit,and State and Federal loan programs)and refinancing opportunities. This group includes Isom Advisors,a division of UFI, that specializes in education financing. (IWUFI 4 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 ___-.-_ .__�. Public Management Group' ("PMG") provides in-depth and insightful analysis of our client's financial history and current position, revenue and expense structures, long-term liabilities and risks, and fiscal outlook through the use of custom financial models, long-term forecasts, and fiscal assessment tools that integrate a wide variety of econometric, Financial and demographic data with key metrics, benchmarks and best practices. More importantly, the diversity and experience of our PMG team enables UFI to transform the financial data and analysis into actionable management information, reports and plans that provide specific recommendations, and strategies supported by the analytics that help our clients achieve their goals and objectives. Analytics and Compliance Group' provides services related to post-issuance compliance, including continuing disclosure, arbitrage rebate, and CDIAC reporting compliance. UFI's Analytics& Compliance Group is dedicated to managing the comprehensive continuing disclosure and post-issuance compliance needs of our California clients. UFI has been providing continuing disclosure services since 1994, when the reporting requirements were first mandated. We currently serve over 200 California cities, enterprise districts, utilities, successor agencies, joint powers and financing authorities, school districts, and charter schools, with extensive experience providing disclosure reporting for various credit types, legal structures, and methods of sale. • Company ownership — if incorporated, the state in which the company is incorporated and the date of incorporation. An out-of-state Contractor must register with the State of California Secretary of State before a contract can be executed (http://www.sos.ca.gov/businessf); UFI is structured as a C-Corporation, headquartered in Walnut Creek, California, and is owned by Jon Isom, Chief Executive Officer, and Greg Isom, Chief Financial Officer. The firm was incorporated on August 21, 1972, and has remained employee-owned throughout its history. • Name, address, and telephone number of the Contractor's point of contact for a contract; Provided below is contact information for the firm and principal contact: Michael Busch,Chief Strategy Officer 1470 Maria Lane,Suite 315 Walnut Creek CA 94596 Office: (714)923-3541 E-mail: michaelb@urbanfuturesinc.com • Provide verification of Securities and Exchange Registration; UFI is currently registered with the U.S.Securities and Exchange Commission(SEC)as a Municipal Advisor.A copy of our Form MA is attached in Appendix C. • Describe types of financial advisory services provided to comparable California municipal clients in the previous three years; Top Municipal Advisors for CA Municipal Bonds As the #1 ranked Municipal Advisory firm in California by number of {January 1,2020-Present) deals (Source: SDC), our firm typically completes 100 or more No.of financings each year. A full listing of transactions completed over the Rank Firm Issues past three years is included in Appendix B. 1 Urban Futures Inc 627 2 Fieldman Rolapp&Associates 479 Our advisory team has deep experience with all the financing 3 KNN Public Finance 364 structures previously used by the City of Santa Ana, including pension 4 PFM Financial Advisors LLC 290 obligation bonds, general fund lease revenue bonds, tax allocation 5 Public Resources Advisory Group 206 Source:SDC Platinum(Thomson Reuters) 1 Non-Municipal Advisory Service cL1FI5 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 bonds, private placements, and water revenue bonds.This deep level of activity provides us with up-to-date insight into market trends, challenges, and opportunities,which we believe significantly enhances the services we offer to our clients. In addition to our core financing services, UFI offers clients integrated support for post-issuance compliance, long- term financial forecasting,fiscal sustainability planning,and pension liability strategies.Cities that engage us across multiple service areas benefit from the continuity,efficiency,and holistic understanding we bring by working closely with their full financial picture in mind. Over the next 24 to 36 months,we understand the City may evaluate the feasibility of issuing or refunding debt for a variety of purposes, including water and sewer capital projects, street improvements, pension obligation bonds, and assessment district financings.UFI has deep experience in each of these areas,and we have outlined our relevant expertise below to demonstrate how we are well positioned to support the City in these potential efforts, General Fund Financings Since 2020, the firm has closed 130 California financings secured by general fund revenues. Our general fund financing experience has included various structures, including real property lease transactions, pension obligation bonds, certificates of participation, equipment leases, new money transactions and refundings for cities, special districts and school districts throughout the State. The team assigned has completed a number of recent general fund lease engagements for the Cities of Ontario, Lake Elsinore, Encinitas, and Orange and recently completed an inaugural lease transaction for the City of Eastvale. Water and Wastewater Financings The assigned team has broad experience assisting issuers across California with water and wastewater-related financings, as well as strategic advisory assignments. Recent relevant engagements include water and sewer financings for the Cities of Ontario, Beaumont, and Covina, along with transactions for Diablo Water District, Rowland Water District,Walnut Valley Water District,and the Water Replenishment District of Southern California. Additionally,Michael Busch brings valuable industry perspective as a founding board member of the California Utility Executive Management Association (CUEMA), an organization dedicated to supporting General Managers in the water sector. Land Secured Financings We offer deep and specialized experience in land-secured financing. In the past five years, UFI has closed more than $440 million in land secured bonds, ranking us as the third most active firm in California. Our experience spans a wide variety of developer types for CFDs,as well as assessment district financings. Notably,we have completed four utility undergrounding assessment district financings for the City of Newport Beach since 2020. In addition,we take an active role in monitoring outstanding bonds and keeping our clients apprised of possible refunding opportunities. For example,we recently completed multiple pooled CFD refundings for the Cities of Beaumont,Oceanside and Lake Elsinore. Our Experience with the City We are honored to have served as the City of Santa Ana's municipal advisor for the past 12 years,providing strategic analysis, advising on more than $600 million in transactions, and assisting the City with post-issuance compliance since 2015. Our transaction work with the City during this time has spanned various credits, including pension obligation bonds,water refunding bonds,tax allocation bonds, as well as a refunding of the City's gas tax bonds,as summarized in the table below. In connection with the gas tax bond refinancing, UFI led a successful process that resulted in the State Controller's Office approval of the refunding,a significant procedural milestone.Most recently, UFI was engaged by the City to evaluate the feasibility of a $40 million financing to support a new entertainment facility proposed by the MainPlace Mall developer. The project is part of a major redesign and renovation of the MainPlace property,which is expected to provide a long-term revenue stream to the City while delivering a much- needed regional entertainment venue. lUFI 6 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 UFI's Bond Financing Experience with Santa Ana Since 2013 Issue Name C losing Date Principal Water Revenue Bonds,Series 2024 6/27/2024 $44,160,000 2021Taxable Pension Obligation Bonds 9/8/2021 425,830,000 2019 Ref Gas Tax RBs 12/10/2019 44,650,000 2018A TABS 11/8/2018 13,605,000 2018B TABS 11/8/2018 58,705,000 Water Revenue Bonds,Series 2014 8/7/2014 $15,690,000 Total $602,640,000 Case Studies Below, we have highlighted specific project experience with Southern California cities completed in the last three years that we believe best demonstrates our capabilities. Notably, each of these projects was completed by staff who are assigned to the City's account, ensuring continuity of expertise and a direct connection to the work presented. el�A1pB City of Ontario �? UFI was engaged by the City of Ontario in 2023 via a competitive RFP process. Since January 2024, - we have served as the City's MA on a lease revenue financing,three CFD financings,a water revenue financing,and four CFD formations.Through ourwork on the 2024 Water Revenue Bonds,we helped the City achieve an S&P rating upgrade to"AA+"from"AA." In addition,UFI is actively working with the City on four additional CFD formations for residential and industrial development projects in the Ontario Ranch area,which is expected to include 24,000 homes at buildout. Most recently,UFI served as municipal advisor to the City on a$192.4 million lease revenue financing to fund various capital improvements, including offsite improvements for a new professional baseball stadium. Starting late last year, UFI began working with City staff and the financing team to evaluate various structuring options to minimize borrowing costs for the project,including reducing the need for capitalized interest,and maximizing the use of tax- exempt proceeds. Leading up to the bond issuance,UFI's Public Management Group was hired to prepare a financial forecast to help the City in assessing its overall fiscal health and to assist with determining cash flow capacity to fund its$1 billion CIP program over the next several years.The baseball stadium will be one component of the Ontario Regional Sports Complex, which is planned for 190 acres of top-tier athletic facilities, including 20 long fields, 14 youth diamond fields,8 full-size diamonds,4 football/rugby fields and 2 championship diamond fields. The 2025 Lease Revenue Bonds priced on April 29, 2025 and generated extremely strong demand, with over$1 billion in orders.As a result of the strong demand,the underwriter was able to reduce spreads on most maturities, resulting in an attractive true interest cost of 4.60%. Looking ahead, UFI is supporting multiple upcoming financings related to the sports complex,including a proposed financing for a 200,000-square-foot indoor sports facility that will further expand the City's recreational and community-serving infrastructure. City of Oceanside UFI has been the City of Oceanside's municipal advisor since 2021, when we were engaged by a o competitive RFP process, Over the past four years, we have assisted the City with various financing assignments including a water revenue bond refinancing, CFD formation, energy lease financing, and h7xrrt most recently a pooled CFD refunding. In addition, UFI has been providing ongoing financial analysis to the City as the explore options for constructing a new police headquarters facility. In 2024,the UFI team, led by Michael Busch and Branden Kfoury, successfully assisted the City in refunding three of its prior CFD bond issues for the Morro Hills CFD and overlapping improvement area. In order to achieve economies I@ 3� UFI 7 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8,2025 of scale,the refunding utilized a pooled issuance through the Oceanside Public Financing Authority. The Morro Hills CFD is part of the Arrowood Community Development Plan, located on the northeastern edge of the City, which includes approximately 538 gross acres, divided into 11 residential villages,a golf course,and small"Village Center" commercial area. The prior bond issues included publicly sold and privately placed loans, which were subject to optional redemption without penalty. UFI worked with the underwriter to develop a credit strategy to highlight the District's strong value-to-lien, low delinquencies, strong local economy and consistent growth in assessed values, resulting in a very strong"A+" underlying rating from 5&P. Despite volatile market conditions in November 2024 around the time of the presidential election,we were able to obtain competitive bond insurance bids and achieve a successful result that met the City's objectives.With the final pricing scale,the City achieved an all-in-true interest cost of 3.63%and net present value savings of 3.07%. Property owners are expected to save about$340 annually on average as a result of the refunding through the remaining term of the bonds. City of Encinitas f UFI was engaged by the City of Encinitas in 2024 via a competitive RFP process and currently provides both municipal advisory and post-issuance compliance services. For our first assignment,we served as municipal advisor on a $5.69 million lease revenue bond financing. Proceeds of the bonds, were used to reimburse the City for the purchase of a 1.43-acre site located at the northeast corner of Coast Highway 101 and La Costa Avenue. A significant portion of the property contains environmental constraint areas including wetland vegetation and bluffs. These sensitive areas are considered protected environmental resources under the City's General Plan and Municipal Code and will be placed in an open space easement upon any future development of the two parcels. UFI coordinated all aspects of the financing process and worked quickly to meet the City's timeline for completion. We coordinated with City staff to present the financing plan to the City Council at two meetings in March and April 2024. UFI also led the credit rating process,which resulted in affirmation of the City's top-notch "AAA"issuer rating and "AA+" appropriations rating. The bonds priced on April 24, 2024, and received strong investor demand, with $7.2 million in total orders(1,3x oversubscribed)across 19 unique accounts. Based on the strong order period, the underwriter reduced spreads on several maturities,resulting in a final TIC of 4,02%. City of Lake Elsinore - Since 2014, UFI has provided Municipal Advisory Services to the City of Lake Elsinore on dozens of land secured financings, lease revenue bonds, tax allocation bonds, and private placements. Beyond transactional support, we have also acted as a strategic partner to the City — providing non-financing services such as long-term financial forecasting, pension and ©PEB studies, ` Enhanced Infrastructure Financing District (EIFD) formation, Affordable Housing/AB 341 analysis, and broader economic development initiatives. In 2022,UFI served as the municipal advisor on the City's issuance of$23.7 million of lease revenue bonds to finance construction costs of a new City Hall,which will further enhance the City's historic downtown and house City Council chambers, administrative office space, multi-purpose and retail space, and outdoor amenities with connection to the existing City Hall building. UFI worked with the City to explore various funding options and ultimately it was decided that issuing lease revenue bonds was the optimal method of financing, Because of inflationary fears as well as expected increases in interest rates,the City accelerated the financing. UFI worked expeditiously to put together a financing schedule and coordinate next steps.On 6/1,S&P upgraded the City's lease revenue bonds to "A+"from "A" as a result of the City's consistent economic growth and strong reserve levels.The lease revenue bonds closed in June 2022 at a favorable true interest cost of 4.57%.The timing of the transaction proved to be advantageous to the City,as yields rose by as much as 150 basis points across the curve in the following months. 9U 8 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 � putt City of Fullerton UFI was engaged by the City of Fullerton via a competitive RFP process in 2020 and has served as u` i municipal advisor on a number of financings since then.In addition to financing transactions,we have CgCIFOR��P provided the City with post-issuance compliance services and pension-related financial analysis. Most recently,in 2023,the City engaged UFI to assist with the formation of a Community Facilities District(CFD)for The Pines at Sunrise Village,a proposed 164-unit residential development.The developer petitioned the City to form a CFD and issue bonds in an amount not to exceed $9.5 million to finance public improvements, including streets, parks, and sewer infrastructure. UFI was involved from the outset, beginning with a review of the City's adopted Local Goals and Policies. We also coordinated the distribution of RFPs to special tax consultants and bond/formation counsel, resulting in the engagement of qualified firms at competitive rates. We served as the City's primary point of coordination with the developer and the broader formation team,managing meetings and aligning the financing process with the City's policy goals.The City Council adopted the Resolution of Formation in August 2023. Construction on the project is currently underway,with model homes expected to open in Fall 2025. UFI is actively working with the City to evaluate the potential issuance of special tax bonds in Spring 2026. �r.+ r�,k City of Newport Beach IC iLUFI has advised the City of Newport Beach on numerous assessment district financings since 2020. Most recently, we served as municipal advisor on the issuance of 2023 Limited Obligation F�„: Improvement Bonds for Assessment Districts No. 124 and No. 120-2. Assessment District No. 124 originally included 966 assessed parcels,while Assessment District No.120-2 consisted of 44 parcels located within the City. UFI managed the financing schedules for both transactions concurrently during a period of heightened market volatility driven by inflationary pressures and broader economic uncertainty. Both bond issues successfully priced on the same day in July 2023 and attracted strong demand from both retail and institutional investors. The AD124 Bonds were 9.2 times oversubscribed,allowing the underwriter to reduce yields by 7 basis points on the five serial bonds and 15 basin points on the 2038 and 2043 term bonds, resulting in a True Interest Cost (TIC) of 4.27r'o. For the AD120-2 Bonds,yields were improved by 3 to 5 basis points,producing a TIC of 4.41%. UFYs management of both transactions ensured efficient execution and favorable pricing results, despite a challenging market environment. ® City of Pasadena In April 2025, UFI advised the City of Pasadena on the issuance of its $195 million General Obligation Bonds(Central Library Project),Series 2025.The bonds were offered via competitive PAPA D E N A sale and authorized by voters under Measure PL,which was approved in November 2024. Bond proceeds will fund a portion of the Central Library Seismic Retrofit and Renovations Project. UFI worked closely with City staff to monitor market conditions and strategically timed the sale around both the economic release calendar and the forward municipal bond calendar. The bonds were assigned a "AAA" rating by Standard &Poor's on April 14,2025.The Official Notice of Sale and Preliminary Official Statement were released on April 22,and UFI actively marketed the sale to underwriting desks to ensure broad visibility and strong participation. Despite volatile market conditions, the bonds attracted strong demand, receiving 10 bids from underwriting firms. The winning bid offered a true interest cost(TIC) of 4.34%, narrowly ahead of the cover bid by approximately one OU F 1 9 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 basis point. After final sizing adjustments, the final TIC was reduced to 4.33%, outperforming the 4.42% estimate previously presented to City Council on April 7. • Describe any specific debt issuance expertise that your firm possesses. UFI is intentionally structured to support cities like Santa Ana—not just during bond issuance, but across the full spectrum of financial decision-making. As demonstrated through our prior work with the City, we provide comprehensive support throughout the bond issuance process, including assisting with the selection and procurement of key financing team members such as underwriters. Our municipal advisors and consultants bring diverse backgrounds across public finance disciplines, allowing us to offer the City a comprehensive blend of qualifications, insights, and resources. In addition, as noted above, we have decades of experience advising public agencies on a wide variety of debt instruments,from general fund-backed obligations to enterprise and land-secured financings. 0 Unmatched Experience with Santa Ana: No other municipal advisory firm has more experience working with the City of Santa Ana over the past decade. Since 2013 we have advised the City on a ! broad range of financings and policy initiatives, developing deep institutional knowledge and strong working relationships with City staff.This long-standing partnership uniquely positions us to support the City with a full understanding of its financial goals,operational priorities, and policy considerations. Technical Competence: We offer the technical depth needed to structure and evaluate a wide range of financing options, including nuanced and tailored credit structures. For General Fund-backed financings, we assist clients in deve9oping long-term capital funding strategies and provide analysis of insured property values used for collateral.In the case of enterprise revenue credits,we work closely with clients to review rate studies and develop revenue forecasts that inform optimal funding plans. Post-issuance, we remain actively involved, helping clients manage and monitor their debt portfolios to ensure ongoing financial performance and compliance. 0 Credit Expertise: UFI has extensive experience presenting municipal credits to rating agencies and crafting compelling rating presentations that highlight the unique strengths of each issuer. Our deep involvement in Southern California has given us a thorough understanding of local economies,allowing us to effectively position our clients'credit profiles.By combining regional insight with a strong grasp of rating agency methodologies, we consistently help our clients achieve favorable rating outcomes. Most recently, UFI worked alongside the City's financing team to secure a"AA"rating on the City's 2024 Water Revenue Bonds.In addition,in 2019,we advised the City on the 2019 Gas Tax Refunding bonds. By highlighting the City's robust local economy, healthy liquidity and budget flexibility, and strong coverage and liquidity for the gas tax fund, we were able to help the City achieve a rating upgrade from Standard&Poor's to"AA-"from "A." Pricing Execution:The UFI team assigned to the City includes former public finance investment bankers 00 with deep expertise in the underwriting and pricing of municipal securities. Our team actively monitors the municipal bond market to ensure optimal timing and pricing execution, even under challenging market conditions. We advocate for pricing strategies that balance competitiveness with investor demand,typically recommending that the underwriter pursue an aggressive approach targeting at least two times oversubscription. In addition to ensuring fair market spreads, UFI collaborates with underwriters to analyze alternative couponing, optional redemption features, and other structuring options,with the goal of achieving the lowest cost of capital and best terms for our clients. UFI 10 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 APPROACH TO MUNICIPAL ADVISORY SERVICES Our team is well-versed in all phases of the debt issuance process, from structuring and credit analysis to pricing, disclosure,and post-sale reporting.Across all engagements,UFI works closely with staff,legal counsel,underwriters, and other financing team members to ensure transactions are efficiently managed and tailored to meet each agency's policy goals and market conditions. Each financing undertaken by UFI begins with proper planning and extensive due diligence and ends with ongoing monitoring and administration. We are able to tailor our approach to fit the City's needs on each and every engagement. The scope of municipal advisory services we offer on transactions is built on three core phases, as summarized below. 2. Assemble the 1. Preliminary Analysis/ Finance Team and 3. Pricing and Closing Recommendation Manage the Financing Execution Process Activity 1: Preliminary Analysis/Recommendation In order to formulate effective and pragmatic recommendations, UFI takes the time to perform extensive due diligence,research,and preliminary analyses in order to understand the goals and priorities of our clients,as well as the economic and political challenges and opportunities our clients face in achieving those goals. Activity 1 involves a complete assessment of the client's needs and financial constraints. Where appropriate and requested by the client,this preliminary work may include preparation of a detailed finance plan for the capital project(s)involved in the financing(see below for details). During this period, UFI staff performs the following tasks: • Schedule meetings or calls with staff to request all necessary data and discuss the needs and goals of the City. • Undertake a funding analysis for the identified capital project(s)and prepare a finance plan. • Identify and assist with strategies to mitigate risks of large public facilities projects. • Analyze existing outstanding debt to determine parity test requirements, feasibility of refunding certain outstanding series of Bonds,and debt affordability. • Review pension liabilities and existing policies. • Assist with comprehensive credit analysis to determine the anticipated rating, preferred structure, and interest rate scale for the Bonds. • Prepare a summary of cost of issuance • Independently structure the financing and present results to the City. Activity 2:Assemble the Finance Team and Manage the Financing Process After an evaluation of financing options/alternatives, should it be determined that financing targets will be met through a bond issuance, UFI will begin work on the financing schedule and the implementation of the agreed upon financing strategy. UFI's scope of work during Activity 2 includes,but is not limited to,the following tasks: • Assist in the selection of additional service providers, including, but not limited to, underwriter, bond counsel, disclosure counsel,appraiser,or trustee. • Call,arrange,and lead working group meetings as appropriate. • Develop the financing timetable. • Monitor financing process and coordinate all activities of the financing team. • Review all legal and financing documents on behalf of the City. • Provide support to the City relating to financing documents, including preparation of staff reports and presentations. • Compute Sizing and Structure of Debt issue and verify cash flows from underwriters. • Plan and Coordinate Presentations to Ratings Agencies • Monitor market conditions to advise on timing of bond offering. Cj lJFI 11 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August S, 2D25 Activity 3:Pricing and Closing Execution UPI offers extensive expertise in the pricing and marketing of municipal securities, as noted previously. Generally, our approach is to recommend that the underwriter employ an aggressive pricing strategy(aiming for approximately 2 times oversubscription)to achieve the best possible pricing for ourclients.We will work to ensure the best possible result for the City,without risk of diminishing investor participation,and provide post issuance analysis. UFI's scope of work during Activity 3 includes, but is not limited to,the following tasks: • Monitor and track comparable transactions • Analyze alternative couponing and optional redemption strategies • Evaluate use of bond insurance • In a competitive sale,prepare and market bid documents, advise on timing of sale and evaluate bids • Assist with negotiated sale, including advice regarding retail order periods and institutional marketing, analysis of comparable bonds and secondary market data,verify cash flow calculations,and serve as Pricing Advisor • Prepare and coordinate bond closings POST ISSUANCE COMPLIANCE SERVICES UFI will work with the City's finance staff and its Continuing Disclosure Committee to prepare and file all reports, documents, and other filings required for the City's outstanding debt obligations. UF1's continuing disclosure, compliance,and dissemination services include the following: • For the City's municipal securities, prepare and post Annual Reports on the MSRB's EMMA data portal, in accordance with the applicable Continuing Disclosure Certificate/Agreements. • For the City's municipal securities and private placements, prepare and file CDIAC Annual Debt Transparency Reports and Marks-Roos Yearly Fiscal Status Reports through CDIAC's online filing system. • For the City's private placements, prepare and transmit annual reporting requirements to lenders in accordance with applicable private placement documents. • For Listed Events described in the applicable Continuing Disclosure Certificate/Agreement, monitor, prepare and post Material Event Notices on the MSRB's EMMA data portal, as needed. • Through our Municipal Advisory Group,on an as-needed basis, provide guidance and recommendations on disclosure and compliance issues related to the City's municipal securities and private placements. UFl maintains a comprehensive database of the City's outstanding debt obligations that includes the details of the annual reporting requirements listed above and the associated filing/reporting deadlines. UFI's proprietary database is utilized to annually prepare a comprehensive Request for Information (RFI)sent to the City that details the annual reporting process and deadlines and provides an easy to complete Excel workbook for all financial and operating data needed from the City for annual reporting. Upon completion of annual reporting, UFI provides final copies of all the reporting documents to the City. Disclose any potential conflicts of interest with the City; UFI, its related entities or any proposed personnel have no known potential conflicts of interest with the City. We have no compensation/fee arrangements with any other potential parties to the contemplated financing or supplemental proposed services. UFI has no economic arrangements with other "finders", such as governmental consultants, lobbyists,attorneys,or others who introduce finical advisory business. UFI has no"soft dollar"or similar arrangements with registered broker-dealer firms. • Disclose any litigation or investigative proceedings which the firm or any of its members are subject; UFI has not had any pending investigations, legal events or disciplinary actions over the last five years or through its history. This is reflected on its Form MA and Form MA-I, which includes information about any criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, 0UH 12 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 arbitrations and civil litigation. The City may electronically access our fi - g y y y rm's most recent Form MA and each most recent Form MA-1 filed with the Commission at the following website: www.sec.gov/edgar/searchedgar/companysearch.html. There have been no material changes to a legal or disciplinary event disclosure on any Form MA or Form MA-1 filed with the SEC. • Provide references (maximum of three) of key projects your firm has engaged in with comparable California municipafities over the past three years;and Provided below are three references for key projects on which UFI has been engaged over the past three years. CITY OF * . Jason Simpson,City Manager Phone:(951)674-3124 Ext.211 Email:jsimpson@lake-elsinore.org 130 S. Main Street, Lake Elsinore,CA Scope of Work: MA services for LRBs,CFD and TABS; Forecast,Affordable Housing/AB 341 analysis, Economic Development, EIFD, Pension Study Dates:2014-Present UFI Personnel: Michael Busch,Jim Morris and Branden Kfoury CITY OF OCEANSIDE Jill Moya,Financial Services Director E-mail:jmoya@oceansideca.org Phone: (760)435-3887 Address:300 North Coast Hwy,Oceanside,CA 92054 Scope of Work: CFD Formation,Water Refunding Bonds, EIFD Analysis, Project Planning/Analysis for Police Facility, Energy Efficiency Financing Dates:2021-Present UFI Personnel: Michael Busch,Wing-See Fox and Branden Kfoury CITY OF Tom Gallup,Interim Director of Finance E-mail: tgallup@encinitasca.gov Phone: (760)633-2640 Address:505 S.Vulcan Ave, Encinitas,CA 92024 Scope of Work: 2024 Lease Revenue Bonds&Dissemination Agent Services Dates:2024-Present UFl Personnel: Michael Busch,James Morris, and Branden Kfoury 13 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 9,2025 •Length of time Contractor has been providing services described to the public and/or private sector. Please provide a brief description. UFI has been providing municipal advisory and financial consulting services to public agencies since 1972, a period of over 53 years. Throughout this time, we have served hundreds of California clients, including cities, counties, special districts, redevelopment agencies,school districts,community colleges, and non-profit organizations. B. Cost Proposal All Proposers are required to submit a fixed rate fee with their Cost Proposal. Pricing instructions should be clearly defined to ensure fees proposed can be compared and evaluated. Cost Proposal must include a payment schedule if applicable. City reserves the right to negotiate compensation and/or payment schedule prior to award of any resulting agreement, When applicable, if providing hourly rate sheets, Proposer shaii not include rate ranges or averages. Additionally, Proposers shall include and address the following items in their Fee Proposal 1) Identify services that would be provided on an hourly basis and the corresponding titles and rates of proposed staff; UFI is available for as-needed services on an hourly basis for research, analysis, Capital Improvement Program funding planning, and development of funding options and recommendations. Below are the hourly rates of proposed positions. UF1's Hourly Fee Schedule Chief Strategy Officer $325 Managing Director/Director $300 Associate/Analyst $175 2) Identify services that would be performed on a flat rate or a not-to-exceed amount; Municipal Advisor Fees For municipal advisory financing assignments, UFI proposes flat fees based on the par amount of the bonds, as summarized in the table below.Ourfees for municipal advisory services are contingent upon closing and are inclusive of out-of-pocket expenses such as travel,data recovery,third party data fees,and internal compliance requirements. Proposed .. Par Amount Fee <$25 million $40,000 $25 million-$100 million $45,000 >$100 million $50,000 Private Placements $30,000 Dissemination Agent Fees For the Dissemination Agent Services required by the City's existing debt obligations,as such services and obligations are described in the Request for Qualifications, UFI proposes an annual fixed fee in the amount of$13,000 for the initial year,with a$500 annual increase for each subsequent year during the contract term. During the term of the agreement, subject to mutual agreement by the City and UFI,the amount of the fee is subject to revision based on OU F 1 14 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8,2025 additional new debt obligations requiring dissemination services or the defeasance/maturity of existing debt obligations. 3) Identify services that are deemed negotiable;and Given that working with the City is of highest priority to our firm, we are open to negotiating our fees should the City find it necessary. 4) Provide cost scenarios that would assist in evaluating your cost structure: a refinancing, a general bond issuance, etc. Fees for municipal advisory services will be assessed according to the fee table provided, based on the par amount of the bonds. Our fee structure for bonds applies consistently across various types of transactions, including general obligation bonds, refundings,and special district financings.All fees are contingent upon successful closing and inclusive of out-of-pocket expenses. The City shall not provide reimbursement for travel-related expenses, mileage, ;parking, lodging, meals, incidental fees, insurance, freight/shipping and handling/delivery, and any other business expenses, supplies and materials related to providing services as specified herein. Additional costs will not be considered and will not be reimbursed by the City,therefore,such costs must be absorbed in Proposer's cost proposal fee structure.Any language related to travel reimbursement shall be stricken from the document by the City and if not stricken,shall be deemed invalid. Proposals shall be valid for a minimum of one hundred eighty(180) days following Proposal deadline.The cost for developing the Proposal is the sole responsibility of the Proposer. All Proposals submitted become property of the City. Pricing shall remain firm for the entire initial Agreement term. 9UFI 15 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8,2025 Appendix A: Professional Resumes — UFI Team Members O/ UFI 16 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 MICHAEL BUSCH Chief Strategy Officer Profile CONTACT Michael is a seasoned municipal executive and public finance 1470 Maria Lane, Suite 315, professional with 30 years in public finance with the last 18 years Walnut Creek, CA 94596 at UFI, where he served as owner and Chief Executive Officer TEL: (714) 923-3541 before becoming Chief Strategy Officer. His career includes senior Michaelb@urbanfuturesinc.com leadership roles as Assistant City Manager and Finance Director, guiding public agencies with strategic fiscal management and EDUCATION operational leadership. Michael has advised cities,special districts, M.P.A.— Finance and Public and nonprofits across California, helping them identify emerging Works trends, navigate complex policy issues, share best practices, and Cal State University, Long Beach advance their missions through sound fiscal and economic strategies. Over his career, he has structured and managed more B. Urban and Regional than $5 billion in tax-exempt and taxable debt, including lease Planning revenue bands/COPS, water and wastewater revenue bonds, Cal State Polytechnic University, pension obligation bonds, tax allocation bonds, CFD and Pomona assessment district bonds, and New Market Tax Credits. Recognized for linking prudent fiscal policies with economic PROFESSIONAL AFFILIATIONS development objectives, Michael has helped deliver numerous Innovating Commerce Serving Communities(ICSC) high-priority projects for communities statewide. His current and California Society of Municipai Finance recent clients include the Water Replenishment District of Officers(CS MFO) Southern California, Walnut Valley Water District, and the Cities of Past President—Municipal Management Eastvale, Ontario, San Jacinto, Pomona, Oceanside, Azusa, Association of Southern California Banning, Beaumont, Lake Elsinore, and Menifee. (MMASC) PastChair—Cal-ICMA Relevant Project Experience • City of Ontario— Lease Revenue Bonds, Water Revenue Bonds, Private Activity Financing, CFD Bonds • Lake Elsinore—CFD Bonds, City Hall Project, Joint Venture Economic Development Financing • City of Beaumont—CFD Bonds, Wastewater Bonds • Water Replenishment District—2025 Refunding Bonds • City of Eastvale - 2025 Lease Revenue Bonds Gc°%�UFI 17 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8,2025 BRAN DEN KFO►U RY Director Profile CONTACT Branden Kfouryjoined Urban Futures in 2019. He has worked on a 1470 Maria Lane, Suite 315, variety of debt offerings for cities and special districts in California Walnut Creek, CA 94596 including, but not limited to utility revenue bonds, general Tel: (714) 923-3560 obligation bonds, lease revenue bonds, CFD and assessment brandenk@urbanfuturesinc.com district bonds, as well as tax allocation bonds. Mr. Kfoury has extensive experience in all aspects of the bond financing process and excels at providing value-added debt structuring, credit and EDUCATION quantitative analysis. Previously, Mr. Kfoury worked as a Senior BS, Finance Associate at Fieldman, Rolapp & Associates where he supported New York University the firm's city and special district clients. Mr. Kfoury has held prior roles in public finance investment banking, bond insurance, as well PROFESSIONAL AFFILIATIONS as in the technology industry. He graduated Cum Laude from New California Society of Municipal Finance Officers(CS MFO) York University with a Bachelor of Science degree in Finance and a minor in Politics. Mr. Kfoury is a candidate in the CFA Program, and passed the Level I Exam in May 2025. Relevant Project Experience • City of Encinitas— Lease Revenue Bonds • City of Pasadena —General Obligation Bonds (Historic Library Renovation Project) • City of Newport Beach—Assessment District Bonds • City of Eastvale - Project Planning & MA Services for Civic Center Facility • City of Beaumont- Project Planning & MA Services for New Police Facility • City of Fullerton— CFD Refundings, tax allocation bonds, and CFD Formation tr 1 18 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8,2025 WING-SEE FOX Managing Director Profile CONTACT Wing-See Fox is the Series 54 Municipal Advisor Principal of UFI 1470 Maria Lane, Suite 315, and leads the Public Finance Group. Wing-See has over a decade Walnut Creek, CA 94596 of experience in the fields of municipal advising, public finance, TEL: (650) 503-1500 and municipal securities. She has worked on over $3 billion in wingseef@urbanfuturesinc.com municipal debt offerings for cities and special districts in California including lease revenue bonds and certificates of participation.She EDUCATION including recently executed lease transactions for the Cities of MBA Claremont, South San Francisco, Orange, Atherton, the Town of Columbia Business School Apple Valley and Cosumnes Community Services District. Wing- See excels in gaining a thorough understanding of credits, MSW validating assumptions in financial projections, and structuring Columbia University School of bond transactions to meet the needs of the issuer while Social Work maximizing credit strength and marketability to investors. She has extensive experience developing credit presentations geared Psychology towards the criteria of rating agencies in order to achieve the Stanford University highest possible ratings. Prior to becoming a municipal advisor, Wing-See was a public finance investment banker, having worked Womenin Public Finance(wIP}PROFESSIONAL AFFILIATIONS at Raymond James Public Finance in San Francisco and UBS omen Asian Americans in PubNc Finance(AAPF) Investment Bank in New York. California Society of Municipal Finance Officers(CSMFO) Communications Committee Relevant Project Experience Class of 2015 LeaderSpring Fellow . City of Watsonville—2025 Lease Revenue Bonds • City of Goleta—2025 Lease Revenue Bonds & Transportation Sales Tax Bonds • Cosumnes Community Services District—2022 Certificates of Participation • City of South San Francisco —2022 Lease Revenue Bonds • City of Pismo Beach—2024 Lease Revenue Bonds (Public Safety Facility Project) • City of Manteca —2025 CFD Bonds �rUFI 19 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 -ems JAMES MORRIS Managing Director Jim Morris has over twenty-five years of experience working in the fields of financial analysis, municipal law and public CONTACT agency governance. Jim specializes in assisting cities and 1470 Maria Lane, Suite 315, special districts in the areas of long-term forecasting, Walnut Creek, CA 94596 financial sustainability and comprehensive fiscal Tel; (714) 923-3542 assessments. His recent engagements include financial iamesm@urbanfuturesinc.com forecast models for numerous municipal clients, preparing EDUCATION fiscal sustainability plans, and developing comprehensive Juris Doctorate and Master of fiscal assessments. Jim also has responsibility for managing Urban Planning and guiding UFI's Analytics and Compliance practice group UCLA which includes continuing disclosure, arbitrage rebate, and CDIAC reporting compliance for municipal issuers. Prior to Bachelors Degree joining UFI, Jim worked with the City of San Bernardino Dartmouth College where he was tasked with successfully winding-down San Bernardino's former redevelopment agency ($28+ million annual budget and $275+ million in debt and obligations), and he was a key advisor and strategist for the city's bankruptcy team. Jim began his professional career as a public law attorney with Best Best & Krieger, where he served as Assistant City Attorney for the cities of Corona and Ontario, and General Counsel for Western Municipal Water District. Jim is a graduate of Dartmouth College and received both a Juris Doctorate and Master of Urban Planning from UCLA. > UFI 20 City of Santa Ana Proposal for Financial Advisory and Dissernination Agent Services August 8, 2025 Appendix B: UFI Transaction List OUH21 UFI Transactions Since August 1,2022 Issuer Issue Name Sale Date El Monte Union High School District General Obligation Bonds,Election of 2018 7/23/2025 Principal 35,950,000 Fulton-El Camino Recreation and Park District General Obligation Bonds,Election of 2024,Series A(Bank Qualified) 7/17/2025 7,800,000 Eastvale Public Financing Authority Eastvale Public Financing Authority Lease Revenue Bonds Series 2025A(Civic Cente 7/15/2025 57,715,000 Beaumont Public Improvement Authority Wastewater Revenue Refunding Bonds,Series 2025A 7/2/2025 80,000,000 Kingsburg Joint Union High School District General Obligation Bonds,Election of 2024,Series A(Bank Qualified) 6/26/2025 7,000,000 Watsonville Public Finance Authority Lease Revenue Bonds,Series 21125 6/26/2025 11r250,000 Heber Elementary School District General Obligation Bonds,Election of 2024,Series A 6/24/2025 2,000,000 Tulare Joint Union High School District 2025 Certificates of Participation 6/24/2025 14,515,000 Brawley Elementary School District 2025 General obligation Bond Anticipation Notes,Series A and Series B-1 and Serie 6/24/2025 14,996,001 Beaumont Public Improvement Authority Local Agency Revenue Refunding Bonds,Series 2025 6/17/2025 24,575,000 Merced Union High School District Merced Union High School District(Merced County,California),General Obligation 6/17/2025 29,574,973 El Centro Elementary School District 2025 General Obligation Band Anticipation Notes,Series A-1 and Series A-2(Merit 6/17/2025 11,900,000 El Centro Elementary School District General Obligation Bonds,Election of 2016,Series D(Measure L) 6/17/2025 4,000,0GO Santa Rasa City Schools District General Obligation Bonds,2022 Election,2025 Series B(High School District) 6/11/2025 100,000,000 Santa Rosa City Schools District General Obligation Bonds,2022 Election,2025 Series 8(Elementary School District 6/11/2025 3C,000,000 Bella Vista Elementary School District General Obligation Bands,Election of 2024,SeriesA 6/1112025 2,500,000 Cascade Union Elementary School District Election of 2024 6/11/2025 2,300,000 Cutler-Orosi Joint Unified School District General Obligation Bands,Election of 2016,Series C 6/11/2025 8,396,592 Water Replenishment District of Southern Catifomia Replenishment Assessment Revenue Refunding Bonds,Series 2025 6/10/2025 82,600,000 Shasta Union High School District 2025 General Obligation Bonds Anticipation Notes 6/10/2025 19,991 Santa Monica-Malibu Unified School District General Obligation Bonds of SRO No.1(Santa Monica-Malibu Unified School Distrir 6/10/2025 200,000,000 Oakdale Joint Unified School District General Obligation Bonds,Election of 2024,SeriesA fif5/2025 35,000,000 Ventura Unified School District General obligation Bonds,Election of 2022,Series B 6/5/2025 113,000,000 Martinez Unified School District Martinez Unified School District(Contra Costa County,California)General Obligatic 6/4/2025 30,000,000 Hanford Joint Union High School District 2025 General Obligation Refunding Bands 6/4/2025 13,305,000 Sunnyvale School District General Obligation Bonds,2024 Election,2025 Series A 6/3/2025 80,000,ODO Lake Elsinore Facilities Financing Authority Local Agency Revenue Refunding Bonds,Series 2025A 5/29/2025 87,000,000 Calistoga Ieint Unified School District Calistoga Joint Unified School District(Napa and Sonoma Counties)General Obligat 5/29/2025 14,500,000 Pollock Pines Elementary School District General Obligation Bonds,Election of 2024,SeriesA(Bank Qualified) 5/29/2025 4,000,000 Tracy Unified School District General Obligation Bonds,SFID No.3,Election of 2024,Series A 5/21/2025 65,000,000 Hillsborough City School District General Obligation Bonds,Election of 2022,Series C 5/21/2025 32,000,000 Burton School District General Obligation Bonds,Election of 2024,Series A 5/20/2025 3,600,OCD Petaluma Joint Union High School District General Obligation Bonds,Election of 2024,Series A 5/20/2025 52,800,000 Petaluma City Elementary School District General Obligation Bonds,Election of 2024,Series A 5/20/2025 23,200,000 Hanford Elementary School District General Obligation Bonds,Election of 2024,Series A 5/15/2025 7,500,000 McKinleyville Union School District General Obligation Bands,Election of2024,Series A 5/15/2025 4,300,000 Armona Union Elementary School District General Obligation Bonds,Election of 2024,Series A 5/15/2025 4,500,000 Roseland Elementary School District (Sonoma County,California)General Obligation Bonds,Election of 2024,Series 202 5/14/2025 3,31 Burbank Unified School District Election of 2024,General Obligation Bonds,Series 2025 5/14/2025 90,000,000 New Haven Unified School District General Obligation Bonds,Election of 2024,Series A 5/13/2025 95,000,000 Maxwell Unified School District General Obligation Bonds,Election of 2024,Series A 5/8/2025 4,600,000 San Rafael City High School District General Obligation Bonds,Election of 2022,Series C 5/B/2025 26,500,000 Ontario Public Financing Authority 2025A Lease Revenue Bonds S/6/2025 192,435,000 Williams Unified School District _ General Obligation Bonds,2024 Election,2025 SeriesA 5/6/2025 7,500,000 Buttonwillow,Union School District General Obligation Bond,Election of 2024,Series 2D25 5/1/2025 4,000,000 Sunol Glen Unified School District General Obligation Bonds,Election of 2022,Series B(Bank Qualified) 4/31 3,900,OCD Owens Valley Unified School District General Obligation Bonds,Election of 2024,Series 2025 4/30/2025 2,50o,DO0 Pasadena General Obligation Bonds(Centml Library Project)Series 2025 4/29/2025 195,000,000 Lone Pine Unified School District General Obligation Bonds,Election of 2024,Series 2025 4/29/2025 3,801 Menifee CFD No 2023-2 Improvement Area No.1 Special Tax Bonds,Series 2025A 4/29/2025 4,625,000 Chico Unified School District 2025 General Obligation Refunding Bonds 4/24/2025 15,750,000 Encinitas Union School District General Obligation Bands,Election of 2024,Series A 4/24/2025 60,000,000 SnowlineJoint Unified School District General Obligation Bonds,Election of 2024,Series A 4/22/2025 30,000,000 Hayward Unified School District General Obligation.Refunding Bonds,Series 2025B 4/22/2025 112,980,000 Guadalupe Union School District 2025 Lease and Sublease Agreement 4/16/2025 4,100,000 Campbell Union School District 2025 General Obligation Refunding Bonds 4/15/2025 31,405,000 Redondo Beach Unified School District Election of 2024 General Obligation Bonds,Series A 4/14/2025 80,000,000 Laton Joint Unified School District 2025 General Obligation Bond Anticipation Notes(Bank qualified) 4/14/202S 3,235,000 Laton Joint Unified School District General Obligation Bonds,Election of 2024,Series A(Bank Qualified) 4/14/2025 3,000,000 Thermalito Union Elementary School District General Obligation Bands,Election of 2024,Series A 4/14/2025 4,995,000 Mountain View School District(Los Angeles County) General Obligation Bonds,Election of 2020,Series C 4/10/2025 13,000,000 Briggs Elementary School District General Obligation Bonds(Election of 2024,Series A)(Bank Qualified) 4/10/2025 2,500,000 Chico Unified School District General Obligation Bonds,Election of 2024,Series A 4/10/2025 80,000,000 Chico Unified School District General Obligation Bonds,Election of 2012,Series C 4/10/2025 33,000,000 West Sonoma County Union High School District General Obligation Bonds,Election of 2018,Series D 4/10/2025 23,000,000 Walnut Creek School District Genera}Obligation Bonds,Election of 2022,Series B 4/10/2025 32,000,000 Paradise Unified School District 2025 Certificates of Participation 4/7/2025 30,230,000 Marongo Unified Schaal District General Obligation Bonds,Election of 2024,Series 2025 4/3/2025 32,000,000 Carmichael Recreation and Park District Election of 2022 General Obligation Bonds,Series 2025B 4/3/2025 12,200,0OU Cottonwood Union School District General Obligation Bonds,Election of 2024,Series 2025 4/1/2025 2,900,000 Cotten School District General Obligation Bonds,Election of 2024,Series 202S 3/27/2025 2,500,000 Hea€dsburg Unified School District General Obligation Bonds,Election of 21 SeriesA 3/26/2025 14,500.000 UPI Transactions Since August 1,2022 Issuer Issue Name Sale Date Principal Amt Beaumont CFD No 2016-3 2025 Special Tax Bonds 3/25/2025 6,580,000 Wright Elementary School District General Obligation Bands,Election of 2024,Series A 3/25/2025 9,500,000 Corning Union Elementary School District 2025 General Obligation Bands,2024 Election 3/25/2025 4,250,000 Bonny Doan Union Elementary School District Election of 2024 General Obligation Bonds 3/20/2025 .1,500,000 Gateway Unified School District General Obligation Bonds,Election of 2024,Series 2025 3/13/2025 22,D00,000 Cotati-Rohnert Park Unified School District 2025 General Obligation Bonds,Election of 2C24,Series A 3/13/2025 25,000,000 Manteca CFD No 7023-1 Improvement Area No.3 Special Tax Bonds,Series 2025 3/12/2025 5,515,000 Delhi Unified School District General Obligation Bands,2024 Election,2025 Series A 3/11/2025 5,250,000 Cambria Community Healthcare District General Obligation Bonds,Election of 2024,Series A(Bank Qualified( 3/5/2025 5,900,000 Mission Union Elementary School District General Obligation Bonds,Election of 2024 Series A(Bank Qualified) 3/3/2025 1,500,000 Oxnard Union High School District 2025 General Obligation Band Anticipation Notes 2/26/2025 75,000,000 Goleta Lease Agreement 2/25/2D25 18,735,000 Goleta Facilities Financing Authority Goleta Facilities Financing Authority Lease Revenue Bonds,Series 2025A 2/25/2025 18,735,000 Goleta Installment Sale Agreement 2/25/2025 14,655,000 Goleta Facilities Financing Authority Local Measure ATransportation Sales Tax Revenue Bonds,Series 2025 2/25/2025 14,655,000 Chualar Union School District General Obligation Bands,Election of 2024,Series A 2/25/2025 2,900,000 Lake Tahoe Unified Schaal District General Obligation Bands,2024 Election,2025 Series A 2/25/2025 35,000,000 Brawley Elementary School District General Obligation Bands,Election of 2024,Series A(Bank Qualified} 2/25/2025 5,000,000 Soquel Union Elementary School District General Obligation Bands,2024 Election,Series 2025 2/201202S 20,000,000 Palos Verdes Peninsula Unified School District General Obligation Bonds,Election of 2024,Series 2025 2/20/2025 75,000,000 Muroc Joint Unified School District Election of 2022 General Obligation Bonds 2/20/2025 5,000,000 Black Oak Mine Unified School District General Obligation Bonds,Election of 2D24,Series 2025 2/19/2025 6,000,000 Pacific Elementary School District General Obligation Bands,Election of 2024,Series B(Measure 1)(Hank Qualified) 2/13/2025 759,563 Keyes Union School District General Obligation Bands,Election of 2024,Series A(Bank Qualified) 2/13/2025 4,000,000 Loma Prieta Joint Union Elementary School District Election of 2018 General Obligation Bonds,Series C(Bank Qualified) 2/11/2025 3,000,000 Bayshore Elementary School District 2025 General Obligation Bonds Election of 2016,Series C(Bank Qualified) 2/6/2025 2,660,000 Gridley Unified School District General Obligation Bonds,Election of 2022,Series B 1/29/2025 4,900,000 Piner-Olivet Union School District General Obligation Bonds Election of 2024,Series 2025 1/28/2025 10,000,000 Lemoore Union High School District 2025 Equipment Lease Financing 1/22/2025 2,601,000 Santa Monica-Malibu Unified School District 2025 Certificates of Participation 1/22/2025 13,400,000 Westmorland Union Elementary School District 2025 Energy Lease 1/16/2025 1,650,000 K'ingsburg Elementary Charter School District 2025 Certificates of Participation 1/15/2025 5,825,000 Moorpark CFD No 2004-1 2025 Special Tax Refunding Bands 1/8/2025 5,570,000 Imperial Unified School District 2024 Equipment Lease Agreement(Energy Improvement Projects) 12/30/2024 10,728,000 San Luis Coastal Unified School District 2024 General Obligation Refunding Bands 12/11/2024 21,325,COD San Luis Coastal Unified School District General Obligation Bonds,2022 Election 2024 Series B 12/11/2024 90,000,000 Enterprise Elementary School District General Obligation Bonds,Election of 2008,Series D 12110/2024 4,677,417 Fort Bragg Unified School District 2024 General Obligation Bonds,Election of 2020,Series C 12/4/2024 11,000,000 South Bay Union School District(Humboldt County) 2024 General Obligation Bonds,Election of 2020,Series B(Bank Qualified) 12/3/2024 2,500,000 Bellevue Union School District Bellevue Union School District Judgment Obligation Bonds,Series 2024 11127/2024 4,650,000 Menifee CFD No 2023-1 Special Tax Bonds,Series 2024A 11/21/2024 17,275,00D Meadows Union Elementary School District 2024 Equipment Lease 11/20/2024 1,697,C00 Oceanside CFD No 2001-1 Improvement Area No.1 2D24 Special Tax Refunding Bonds 11/14/2024 2,630,000 Oceanside CFD No 2001-1 2024 Special Tax Refunding Bands 11/14/2024 6,440,900 Oceanside Public Financing Authority Local Agency Revenue Refunding Bonds,Series 2024 11/14/2024 9,070,000 Ontario CFD No 64 Special Tax Bonds,Series 2024 11/14/2024 27,860,000 Planada Elementary School District Lease and Sublease Agreement dated as of November 1,2024 11/5/2024 1,137,330 Monterey County Office of Education 2024 Certificates of Participation 11/5/2024 32,255,000 Upper Lake Unified School District 2024 Certificates of Participation 10/29/2024 4,820,000 Pacifica School District General Obligation Bonds,2024 Election 2024 Series 10/24/2024 10,000,000 Pacifica School District General Obligation Bonds,Election of 2018,Series 2024 10/24/2024 12,000,000 Beaumont Library District 2024 Certificates of Participation(Library Facilities Project) 10/23/2024 8,390,000 Beaumont CFD No 93-1 Special Tax Bonds,Series 2024 10/22/2024 9,4D0,000 Madera Unified School District 2024 General Obligation Bonds,Election of 2018,Series 2024 10/17/2024 50,000,OOO Torrance Unified School District General Obligation Refunding Bonds,Series 2024 10/17/2024 106,125,000 Torrance Unified School District General Obligation Bands,Election of 2014(Measure T),Series 2024 10/17/2024 5,000,000 Hillsborough City School District General Obligation Bonds,Election of 2022,Series B 10/17/2024 40,000,000 National School District General Obligation Bands,Election of 2016,Series C 10/17/2024 18,000,000 Winters Joint Unified School District General Obligation Bonds,2020 Election,2024 Series B 10/16/2024 12,000,000 Manteca CFD No 2023-1 Improvement Area No.2,Special Tax Bands,Series 2024 10/9/2024 10,110,000 Moraga Elementary School District General Obligation Bonds,Election of 2024,Series A 10/2/2024 18,000,000 San Lorenzo Valley Unified School District General Wigation Bonds,Election of 2020,Series C 10/2/2024 25,000,000 Calistoga Joint Unified School District General Obligation Bonds,Election of 2010,Series 2024 10/1/2024 8,880,000 Mill Valley School District 7024 General Obligation Bonds,Election of 2022,Series B 9126/2024 74,900,000 Kenwood Elementary School District General Obligation Bonds,Election of 2022,Series B(Bank Qualified) 9/25/2024 7,000,000 Garvey School District General Obligation Bonds,Election of 2024,Series A 9/19/2024 15,000,000 Hamilton Unified School District GENERAL OBLIGATION BONDS 2018 ELECTION,2024 SERIES 8 9/12/2024 4,800,000 Culver City Unified School District General Obligation Bonds,Election of 2024 Series A 9/11/2024 80,000,000 Franklin-McKinley School District Election of 2020 General Obligation Bonds,Series C 9/10/2024 23,000,000 Lake Elsinore CFD No 2019-2 Special Tax Bonds,Series 2024 9/4/2024 7,815,000 Menifee CFO No 2022-1 Special Tax Bonds,Series 2024A 9/4/2024 9,455,000 Washington Union School District 2D24 Certificates of Participation 8129/2024 3,335.000 UFI Transactions Since August 1,2022 Issuer Issue Name Sale Date Pajara Valley Health Care District General Obligation Bonds(Social Bonds)Series 2024A and Series 2024E 8/27/2024 Principal53,350,000 San Rafael City Elementary School District Election of 2022 General Obligation Bonds,Series B 8121/2024 45,000,000 Paradise Unified School District General Obligation Bonds,2018 Election,2024 Series D 8/21/2024 3,200,000 Santa Monica-Malibu Unified School District General Obligation Bonds of School Facilities Improvement District No,2 8/13/2024 80,000,000 Pomona Unified School District 2024 Refunding General Obligation Bonds 8/13/2024 27,435,000 Pomona Unified School District General Obligation Bonds,2016 Election,Series H 8/13/2024 13,400,000 Ontario Pubkc Financing Autharity Water Revenue Bonds,Series 2024A 8/7/2024 43,955,000 Benicia Unified School District 2024 Refunding General Obligation Bonds 7/30/2024 6,090,000 Fullerton CFD No 2 2024 Special Tax Refunding Bonds 7/25/2024 5,840,000 Sunnyvale School District General Obligation Bonds,2018 Election,2024 Series C 7/23/2D24 40,000,D00 Live Oak School District General Obligation Bonds,Election of 2024,Series A 7/18/2024 15,000,000 La Mesa-Spring Valley School District General Obligation Bonds,2020 Election,2024 Series C 7/17/2D24 38,000,000 Successor Agency to the Lompoc Redevelopment Agency Tax Allocation Refunding Bonds,Series 2024 7/9/2024 4,890,000 Harmony Union Elementary School District General Obligation Bonds,Election of 2024,Series 2024 7/2/2024 4,500,000 Pismo Beach Public Financing Agency 2024 Lease Revenue Bonds 7/2/2024 39,475,000 Ontario CFD No 66 Special Tax Bonds,Series 2024 6/27/2024 10,345,000 Los Altos School District General Obligation Bonds,Election of 2014,Series B-2(Federally Taxable) 6/26/2024 79,000,000 Los Altos School District General Obligation Bands,Election of 2014,Series B-1 6/26/2024 6,000,000 Arcata Elementary School District 2024 General Obligation Bonds,Election of 2024,Series A(Bank Qualified) 6/2S/2024 4,200,000 Successor Agency to the Dinuba Redevelopment Agency Tax Allocation Refunding Bonds 6/18/2024 9,235,000 Pacific Elementary School District General Obligation Bonds,Election of 2024,Series A-Z(Measure J) 6/18/2024 675,n00 Pacific Elementary School District General Obligation Bonds,Election of 2024,Series A-1(Measure I) 6/18/2024 540,000 Ontario CFD No 35 Special Tax Bands,Series 2024 6/18/2024 11.225,000 Puente Basin Water Agency Water Revenue Bonds,Series 2024A 6/13/2024 30,740,000 Santa Ana Financing Authority Water Revenue Bonds,Series 2024 6/11/2024 44,160,000 Hope Elementary School District General Obligation Bonds,Election of 2020,Series 2024C 6/6/2024 10,400,000 Los Gatos-Saratoga Joint Union High School District 2024 General Obligation Refunding Bonds 6/4/2024 33,755,000 Benicia Unified School District General Obligation Bands,Election of 2024,Series A 5/22/2024 45,000,0DD Hueneme Elementary School District General Obligation Bonds,2024 Election,Series A 5/22/2024 16,800,000 South Whittier School District General Obligation Bonds,Election.of 2024,Series A 5/21/2024 12,000,000 New Haven Unified School District 2024 General Obligation Refunding Bonds 5/16/2024 36,290,000 Pleasant Valley School District General Obligation Bonds.,Election 2013,Series C 5/15/2024 39,000,000 Lawndale Elementary School District 2024 General Obligation Bonds,Election of 2020,Series A 5/15/2024 17,000,000 San Bruno Park School District General Obligation Bonds,2018 Election,2024 Series D 5/14/2024 14,000,000 Shasta-Tehama-Trinity Joint Community College District 2024 General Obligation Refunding Bonds 5/7/2024 11,520,000 El Monte Union High School District Election of 2008 General Obligation Bonds,Series F 5/7/2024 14,008,582 El Monte Union High School District Election of 2018 General Obligation Bonds,Series C 5/7/2024 20,000,000 Cabrillo Unified School District 2024 General Obligation Refunding Bonds 5/2/2024 11,265,000 Cabrillo Unified School District Election of 2018 Series C 5/2/2024 21,995,000 Whittier City School District 2024 General Obligation Refunding Bonds 5/1/2024 13,735,000 Monterey Park Financing Authority Water Revenue Bonds,Series 2024 4/30/2024 20,555,000 Chino CFD No 2003-3 Improvement Area No,10 2024 Special Tax Bonds 4/25/2024 18,450,000 Encinitas Public Financing Authority 2024 Lease Revenue Bonds 4/24/2024 5,690,000 Martinez Unified School District General Obligation Refunding Bonds,Series 2024 4/22/2024 13,61%o00 Shasta Union High School District 2024 General Obligation Bonds,Election of 2016,Series 2024 4/16/2024 7,900,000 Manteca CFD No 2023-1 improvement Area No.1 Special Tax Bonds,Series 2024 4/16/2024 5,825,000 Successor Agency to Atascadero RDA Taxable Tax Allocation Refunding Bonds,Series 2024E 3/27/2024 1,405,000 Successor Agency to Atascadero RDA Tax Allocation Refunding Bonds,Series 2024A 3/27/2024 15,430,000 Fairfield-Suisun Unified School District 2024 General Obligation Bond Anticipation Notes 3/27/2024 49,996,931 Heber Elementary School District General Obligation Bands,Election of 2018,Series B 3/27/2024 1,500,000 Lincoln Unified School District 2024 General Obligation Refunding Bonds 3/27/2024 14,680,000 Heber Elementary School District 2024 Lease Financing 3/21/2024 3,075,000 Madera Unified School District 2024 Refunding Certificates of Participation 3/13/2024 63,045,000 Old Adobe Union School District 2024 General Obligation Bands,Election of 2018,Series C(Taxable) 3/7/2024 1,440,000 Old Adobe Union School District 2024 General Obligation Bonds,Election of 2018,Series C 3/7/2024 12,060,000 Sequoia Union High School District 2024 General Obligation Refunding Bands 3/6/2024 61,020,000 Sequoia Union High School District General Obligation Bonds,Election of 2022,Series 2024 3/6/2024 80,000,000 Sebastopol Union School District 2024 General Obligation Bonds,Election of 2020,Series B(Bank Qualified) 2/22/2024 6,000,000 Greenfield Union School District(Monterey County( 2024 Certificates of Participation 2/8/2024 11,445,000 San Rafael City High School District General Obligation Bonds,Election of 2022,Series B 2/7/2024 55,000,000 Dos Palos-Oro Loma Joint Unified School District 2024 Lease Financing 2/1/2024 2,325,OD0 Oceanside Lease Purchase Agreement 1/30/2024 20,939,222 Roseland Elementary School District General Obligation Bonds,Election of 2020,Series B 1/30/2024 3,000,000 Lake Elsinore CFD 2006-4(Rosetta Hills) Special Tax Bonds,Series 2024 1/2312024 5,090,000 San Juan Unified Schaal District General Obligation Refunding Bonds 1/18/2024 105,935,000 Guadalupe Union School District General Obligation Bands,Election of 2022,Series A(Measure W2022) 1/18/2W4 5,562,247 Guadalupe Union School District General Obligation Bonds,Election of 2022,Series A((Measure V2D22) 1/18/2024 6,672,794 San Juan Unified School District General Obligation Bonds,Election of 2016,Series 2D24 1/18/2024 125,000,000 Geyserville Unified School District General Obligation Bonds,Election of 2020,Series C(Bank Qualified) 1/17/2024 7,000,000 Reef SunsetUnified School District General Obligation Bonds,Election of 2012,Series C(Bank Qualified) 1/10/2024 1,778,682 Beaumont CFO No 2021-1(Fairway Canyon) 2024 Special Tax Bonds 1/9/2024 14,550,000 McCabe Union Elementary School District 2023 Lease Financing(Energy Efficiency Projects) 12/21/2023 71619,000 UFI Transactions Since August 1,2022 Issuer Issue Name Sale Date Alameda'Public Financing Authority 2023 Lease Revenue Bonds 12/14/2023 Principal 14,565,000 Desert Hot Springs CFD No 2006-1 Improvement Area 1 Special Tax Bonds,Series 2023 12/13/2023 1,970,000 Rialto Public Financing Authority Lease Revenue Bonds,2023 Series A 12/12/2023 56,525,000 Meadows Union Elementary School District 2023 Lease Financing 12/12/2023 1,399,000 Bellevue Union School District 2023 General Obligation Bonds,Election of 2020,Series C 12/12/2023 10,525,000 Windsor Unified School District 2023 General Obligation Refunding Bands(Bank Qualified) 12/5/2023 6,470,000 Parlier Unified School District General Obligation Bonds,Election of 2020,Series C(Bank Qualified) 11/2912023 3,OOD,000 Ukiah Unified Schaal District General Obligation Bonds,Election of 2020,Series C 11/28/2023 25,01 Oakland Unified School District General Obi'igation Bonds(Election of 2020),Series 2023E(Federally Taxable) 11/9/2023 12,100,000 Oakland Unified School District General Obligation Refunding Bonds,Series 2023B(Federally Taxable) 11/9/2023 5,340,000 Oakland Unified School District General Obligation Refunding Bonds,Series 2023A 11/9/2023 76,545,000 Coachella 2023 Equipment Lease Financing 11/9/2023 7,257,601 Oakland Unified School District General Obligation Bonds(Election of 2020),Series 2023A 11/9/2023 172,900,000 Scotts Valley Unified School District 2023 Certificates of Participation 11/8/2023 6,950,000 Chino CFD No 2021-1 2023 Special Tax Bonds 11/2/2023 7,085,000 Taft City School District General Obligation Bonds,Election of 2012,Series C(Bank Qualified) 10/26/2023 8,599,121 Santa Monica-Malibu Unified School District General Obligation Bonds of SFID No.1 Election of 2018,Series C 10/12/2023 175,000,000 Muroc Joint Unified School District Election of 2022 General Ohligation Bonds 10/4/2023 6,SOO,000 Modoc Joint Unified School District 2023 Certificates of Participation 10/1/2023 6,070,000 Ojai Unified School District General Obligation Bonds,Election of 2020,Series B 9/27/2023 20,000,000 Inglewood Pension Obligation Bands,Series 2023(Federally Taxable) 9/26/2023 42,295,000 Franklin-McKinley School District Election of 2020 General Obligation Bonds Series B 9/26/2023 30,000,000 Simi Valley Unified School District General Obligation Bonds,Election of 2016,Series D 9/12/2023 49,000,000 Lemoore Union Elementary School District General Obligation Bands,Election of 2018,Series 2023 9/7/2023 4,230,D00 Pacheco Union School District 2023 Certificates of Participation(Bank Qualified) 9/7/2023 4,255,000 Finer-Olivet Union School District General Obligation Bonds,Election of 2010,Series 2023 9/6./2023 5,965,000 Successor Agency to the Redding Redevelopment Agency Tax Allocation Refunding Bonds,Series 2023 8/29/2023 7,545,000 Lake Elsinore CFD No 2005-8 Special Tax Bonds Series 2023 8/29/2023 3,615,000 Wheatland Union High School District General Obligation Bonds,Election of 2022,Series A(Bank Qualified) 8/29/2023 5,000,000 Menifee CFD No 2021-2 (Sumac Ridge)Special Tax Bonds,Series 2023A B/23/2023 10,050,000 San Lucas Union Elementary School District General Obligation Bands,Election of 2023,Series A(Bank Qualified) 8/15/2023 2,000,000 Menifee CFD No 2021-1 (Banner Park)Special Tax Bands,Series 2023A 8/8/2023 6,435,000 La Mesa-Spring Valley School District General Obligation Bonds,2020 Election,2023 Series B 8/8/2023 50,000,000 Orange Center School District 2023 General Obligation Bonds,Election of 2022,Series A(Bank Qualified) 7/20/2023 5,000,000 Red Bluff Union Elementary School District Certificates of Participation(2023 Energy Efficiency Projects) 7/19/2023 1,495,000 Inglewood Pension Obligation Bond Anticipation Notes,Series 2023(Federally Taxable) 7/19/2023 12,742,000 Newport Beach Limited Obligation Improvement Bonds 2023 Series A 7/18/2023 23,625,000 Newport Beach Limited Obligation Improvement Bonds 2023 Series A 7/18/2023 2,505,000 Fremont Union High School District 2024 General Obligation Refunding Bonds(Forward Delivery) 7/18/2023 32,605,000 Mil(Valley School District General Obligation Bonds,2022 Election,Series A 6/29/2023 22,600,000 Rio Elementary School District 2023 Bond Anticipation Notes 6/29/2023 14,996,769 Rio Elementary School District General Obligation Bonds,Election of 2022,Series A 6/29/2023 12,995,538 Rio Elementary School District General Obligation Bonds,Election of 2018,Series G 6/29/2023 2.,860,000 Menifee CFD No 2022-1 Quartz Ranch 2023 Special Tax Bonds 6/28/2023 11,525,000 McFarland Water and Wastewater Revenue Refunding Bonds,Series 2023 G/15/2023 5,076,000 Hanford Joint Union High School District Election of 2016 General Obligation Bonds,Series C 6/13/2023 9,000,000 Los Alamitos Unified School District 2018 General Obligation Bonds 6/8/2023 20,000,000 Le Grand Union High School District General Obligation Bonds,Election of 2020,Series B(Bank Qualified) 6/6/2023 2,000,000 Shasta-Tehama-Trinity Joint Community College District Election of 2016 General Obligation Bands 6/6/2023 19,000,000 Hueneme Elementary School District General Obligation Bands,2018 Election,Series C 5/31/2023 2,000,000 Ocean View School District(Ventura co) 2023 General Obligation Refunding Bonds 5/26/2029 3,323,439 Fremont Union High School District General Obligation Bonds(Election of 20221,Series 2023 5/23/2023 IOD,000,000 Fremont Union High School District General Obligation Bonds(Election of 2018),Series 2023 5/23/2023 110,000,000 Terra Bella Union Elementary School District 2023 Certificates of Participation 5/15/2023 6,455,000 Farmersville Unified School District General Obligation Bonds,Election of 2022,Series A 5/11/2023 3,000,000 Upland CFD No 2022-1 Enclave at Upland 2023 Special Tax Bonds 5/10/2023 4,305,000 Beaumont CFD No 2016-3 2023 Special Tax Bonds(Sundance) 5/9/2023 6,800,000 New Haven Unified School District General Obligation Bonds,Election of 2014,Series❑ 5/9/2023 21),000,000 Kings River-Hardwick School District 2023 Certificates of Participation 5/4/2023 3,955,000 West Sonoma County Union High School District General Obligation Bonds,Election of 2018,Series C 5/2/2023 24,000,000 Walnut Creek School District General Obligation Bonds,Election of 2022,Series A 4/27/2023 65,000,000 Sunnyvale School District General Obligation Bonds,2018 Election,2023 Series B 4/25/2023 30,000,000 Corning Union Elementary School District 2023 Certificates of Participation 4/26/2023 8,690,0o0 Mountain View School District(Los Angeles County) 2023 General Obligation Bonds,Election of 2020,Series B 4/26/2023 12,000,000 Parlier Unified SchoDi District General Obligation Bonds,Election of 2018,Series C 4/26/2023 2,500,000 Cabrillo Unified School District 2023 General Obligation Refunding Bonds 4/19/2023 6,385,000 Cabrillo Unified School District General Obligation Bonds,Election of 2012,Series 0 4/19/2023 23,000,000 Delhi Unified School District General Obligation Bands,2016 Election,2023 Series B 4/19/2W3 3,000,000 Mupu Elementary School District General Obligation Bands,Election of 2022,Series A(Measure 1)(Bank Qualified) 4/13/2023 800,000 Mupu Elementary School District General Obligation Bands,Election of 2022,Series A(Measure K)(Bank Qualified) 4/13/2023 470,000 San Lorenzo Unified School District GOBS,Election of 2019,Series C 4/13/2023 43,000,000 Ormcla Union School District Election of 2018 General Obligation Bands,Measure 1,Series C 4/13/2023 25,000,000 UFI Transactions Since August 1,2022 Issuer Issue Name Sale Date Orinda Union School District Election of 2018 General Obligation Bonds,Measure E,Series C 4/13/2023 Principal15,000,000 Cutler-Orosi Joint Unified School District Lease and Sublease Agreement dated as of April 1,2023,between the Cutler-Orosi 4/1312023 2,000,000 Ventura Unified School District General Obligation Bonds,Election of 2022,Series A 4/13/2023 113,000,000 South San Francisco Unified School District South San Francisco Unified School District(San Mateo County,California)General( 4/12/2023 1SD,000,000 Mt Diablo Unified School District 2023 Refunding General Obligation Bonds 4/1112023 36,450,000 Santa Rosa High School District General Obligation Bands,2022 Election,2023 Series A 3/29/2023 104,000,000 Santa Rosa Elementary School District General Obligation Bonds,2022 Election,2023 Series A 3/29/2023 32,000,000 Washington Unified School District{Fresno County¢ General Obligation Bands,Election of 2020,Series B 3/16/2023 15,000,000 Garvey School District General Obligation Bands,Election of 2016,Series D 3/15/2023 10,000,000 Carmichael Recreation and Park District Election of 2022 Genera[Obligation Bonds,Series 2023A-2(Federally Taxable) 3/14/2023 4,640,000 Westminster School District General Obligation Bands,Election of 2016,Series E 3/14/2023 14,000,000 Carmichael Recreation and Park District Election of 2022 General Obligation Bonds,Series 2023A-1(Bank Qualified) 3/14/2023 5,360,000 Sunol Glen Unified School District General Obligation Bands,Election of 2D22,Series A(Bank Qualified) 3/14/2023 3,000,000 Sunnyside Union Elementary School District Lease and Sublease Agreement dated as of March 1,2023 between the Sunnyside U 3/1/2023 1,625,000 Stony Creek Joint Unified School District Lease and Sublease Agreement(2023 Energy Efficiency Projects)dated as of Februa 2/23/2023 1,315,000 Kenwood Elementary School District 2023 General Obligation Bands,2022 Election,Series A(Bank Qualified) 2/22/2023 6,000,000 Coalinga-Hunan Joint Unified School District General Obligation Bands,Election of 2022,Series A 2/22/2023 11,50G,000 El Centro Elementary School District General Obligation Bonds,Election of 2022,Series A(Measure E) 2/16/2023 5,595,000 EI Centro Elementary School District General Obligation Bands,Election of 2022,Series A(Measure C) 2/16/7023 5,605,000 El Centro Elementary School District General Obligation Bonds,Election of 2016,Series C 2/16/2023 G,100,000 San Luis Coastal Unified School District General Obligation Bonds,Election of 2022,Series A 2/15/2023 90,000,000 Gridley Unified School District Gridley Unified Schoo[District(Butte County,California)General Obligation Bonds,1 2/9/2023 6,000,000 Buellton Union School District 202.1 General Obligation Bond Anticipation Notes(Bank Qualified) 2/7/2023 6,998,773 Calistoga Joint Unified School District Calistoga Joint Unified School District(Napa and Sonoma Counties,California)Genei 2/7/2023 14,D00,000 Menifee CFD No 2020-1 Community Facilities District No.2020-1 of the City of Menifee(McCall Mesa) 1/26/2023 3,580,000 Alameda CFD No 22-1 Community Facilities District No.22-1(Alameda Marina)2022 Special Tax Bonds 1/25/2023 17,500,000 Happy Valley Union Elementary School District 2D22 Lease Financing 12/19/2022 1,015,000 Live Oak School District 2022 General Obligation Refunding Bands(Federally Taxable) 12/15/2022 8,890,000 Brisbane School District Brisbane School District(San Mateo County,California)General Obligation Bonds,E 12/15/2022 7,000,000 Montebello Facility Lease 12/15/2022 55,965,000 Montebello Public Financing Authority Lease Revenue Bonds,Series 2022E(Federally Taxable) 12/15/2022 55,965,000 Paradise Unified School District Paradise Unified School District(Butte County,CA)General Obligation Bands,2018 1 12/8/2022 10,000,00D Mountain View Shoreline Regional Park Community 2D22 Refunding Revenue Bonds(2011 Bonds) 11/17/2022 21,565,000 Westmorland Union Elementary School District Election of 2022 General Obligation Bonds 11/17/2022 1,900,000 Westmorland Union Elementary School District Election of 2022 General Obligation Bonds 11/17/2022 1,900,000 Pacheco Union School District General Obligation Bonds,Election of 2008,Series D{Bank Qualified) 11/15/2022 3,487,662 Hayward Unified School District 2022 Certificates of Participation 11/15/2022 69,825,000 Fair Oaks Recreation and Park District Election of 2018 General Obligation Bonds,Series 2022(Bank Qualified) 11/2/2022 8,460,059 Menifee CFD No 2021-1 (Banner Park)2022 Special Tax Bonds,Series 2022A 10/27/2022 5,375,000 Santa Clarita Community College District 2022 General Obligation Bonds,Election of 2016 10/2D/2022 70,000,00D Guadalupe Union School District Genera[Obligation Bonds,Election of 2016,Series 8(Measure N)(Bank Qualified) 10/20/2022 3,440,522 Guadalupe Union School District General Obligation Bonds,Election of 2016,Series C(Measure M)(Bank Qualified) 10/20/2022 1501 Northern Humboldt Union High School District General Obligation Bonds,Election of 2010,Series D(Bank Qualified) 10/13/2022 4,295,000 Live Oak Unified School District 2022 Lease Financing 9/30/2022 3,130,000 Ukiah Unified School District 2022 General Obligation Bands,Election of 2020,Series B 9/79/2022 25,000,000 Montebello Lease Agreement 9/29/2022 15,A00,000 Montebello Public Financing Authority Lease Revenue Bonds,Series 2022A 9/28/2022 15,700,00D Menifee CFD No 2020-2 (Del Oro)Special Tax Bonds,Series 2022A 9/28/2022 2,640,000 Brawley Elementary School District 2022 General Obligation Bonds,.Election of 2016,Series B 9/22/2022 7,998,031 McFarland Unified School District Election of 2020 General Obligation Bonds,Series R 9/20/2022 14,996,544 Cascade Union Elementary School District General obligation Bands,Election of 2016,Series C(Bank Qualified) 9/2D/2022 1,900,000 Cascade Union Elementary School District General Obligation Bonds,Election of 2008,Series E(Bank Qualified) 9/20/2022 1,195,770 Pala Verde Unified School District General obligation Bonds,Election of 2018,Series C(Bank Qualified) 9114/2022 5,799,823 San Rafael City High School District Election of 2022,Series A 9/8/2022 55,D00,000 San Rafael City Elementary School District Election of 2022,Series A 9/8/2022 40,000,000 Mumc Joint Unified School District Election of 2022 General Obligation Bonds 9/8/2022 4,775,000 Hillsborough City School District General Obligation Bonds,Election of 2022,Series A 8/30/2022 34,000,0n0 Holtville Unified School District General Obligation Bonds,Election of 2018,Series C(Bank Qualified) 8/22/2022 2,000,000 Lake Elsinore Cl No 2006-6 Special Tax Bonds,Series 2D22 8/18/2022 3,535,000 Hilmar Unified School District Hilmar Unified School District(Merced County,California)General Obligation Bonds 8/16/2022 14,250,000 Westside Elementary School District General Obligation Bonds,2022 Election,Series A(Bank Qualified) 8/3/2022 2,248,371 City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 Appendix C: SEC Form MA UFI 22 FORM MA --� _ OMB APPROVAL ANNUAL UPDATE OF MUIVIC)PAL ADvl.SOR UNITED STATES OMB Number: 3235�0"I REGISTRATION FOR BUSINESS ENTITIES SECURITIES AND EXCHANGE COMMISSION Washington,D.C.20649 Estimated avaraye burden hours per response:1.5 Form MA Applicant's Information CIK 0001615004 CCC Submission Contact Information Contact Person for this Filing JKnneth McManus Contact Phone 973-618-9508 Contact Email Address kenm-cm anus@arernativereg corn C o ntact E mat I Add ress Ikenmomanus@alternativereg.com Please read the General Instructions for this form and other forms in the MA series,as well as its subsection,"Specific Insiructions for Certain Items in Form MA."before completing this form.All italicized terms herein are defined or described In the Glossary of Terms aooended to the General Instructions. Part I This form must be completed by municipal advisors that are organized entities,including sole proprietors (referred to herein as"municipal advisory firms"or"firms,"unless the context indicates otherwise). WARNING: Complete this form truthfully.False statements or omissions may result in denial of application,revocation of registration,administrative or civil action, or criminal prosecution,Form MA must be amended promptly upon the occurrence of certain material events,and updated at least annually,within 90 days of the end of the municipal advisor's fiscal year,or,if a sole proprietor,the municipal advisor's calendar year.See General Instruction 8. Type of Filing: This is an: Check the appropriate box. CJ Initial application to register as a municipal advisor with the SEC. Execution Page;After completing this form,you must complete the Execution Page, Supportlpg Documentation: If you are required to make reportable disclosures in the Disclosure Reporting Pages,you must attach the supporting documentation. Non-Residenf Applican s:If you are a non-resident of the United States,certain additional requirements must be met at the time of filing your application,or processing of your appUcafion maybe delayed. See General Instruction 2.c,and subsection"General Instructions to Form MA-NR"of the General Instructions. W Annual update of municipal advisor's Form MA,for fiscal year ended 06.30-2024 or,if a sole proprietor,for calendar year ended December 31, Execution Page:After completing this form,you must complete the Execution Page. Changes:Are there any changes in this annual update to information provided in the municipal advisor's most recent Form MA,other than the updated Execution Page? *Yes IDNo I']Amendment(other than annual update)to any part of the municipal advisor's most recent Form MA. Execution ge.,q:After completing this form,you must complete the Execution Page. Item 1 Identifying Information A. Full Legal Name of the Firm (1)Firm Name: JR AN FUTURESTN-. Organization CRO No.jf any: (2)Sole Proprietor:If the applicant is a 0 Yes Q) No sole proprietor,check here,and provide full last name,first name, middle name,and suffix,if any: (3)Name Change:If full legal name Yes @ No has changed since the municipal advisor's most recent Form MA,check here and provide the previous full legal name. (specify) B. Doing-Business-As (RBA) Name (1)If the name under which municipal 0 Yes °O No advisor-related business is primarily conducted is different from Item 1-A., check here and provide the DBA name. (2)Previous DBA Name:If name Yes Q No under which municipal advisor-related business Is primarily conducted has changed since the municipal advisor's most recent Form MA,check here and provide the previous name under which the municipal advisor-related business was primarily conducted. (3)Additional Names: (a)Is municipal advisor-related C3 Yes 0 No business conducted under any additional names? (b)List any additional names on Section 1-8 of Schedule b. C.(1)IRS Employer Identification Number. 95-2 81 1 1 9 2 D.Registrations (1)Form MA-T Registration:Was the "@ Yes 0 No applicant previously registered on Form MA-T as a municipal advisor? If"Yes",enter the SEC File No.MA- 806-00057-00 T (2)Other Registrations:Is the applicant registered as or with any of the following? Check all that apply.For each registration box you checked,provide the requested file numbor(s). An applicant firm should NOT provide the organization CRD number,or other specified number,of any of its organizational affiliates,or the individual CRD number of its officers,employees,or natural person affiliates. RIMunicipalAdvisor SEC File No.: 867-00395 C3 Municipal Securities Dealer SEC File No.: KI Broker-Dealer SEC File No.: Organization CRD No.: IllnvestmentAdviser E]SEC-Registered SEC File No.: Organization CRD No.: Cl Exempt Reporting Adviser SEC File No.: Organization CRD No.: l]Registered in US State or Other Organization CRD No.: US Jurisdiction Investment Adviser Registration in a US State or Other US Jurisdiction:If predecessor municipal advisory firm is registered in a US state or other jurisdiction as an investment adviser,enter the organization CRD Number above.In the table below,select each US state orjurisdiction in which the predecessor municipal advisory firm is so registered. Check All That Apply: US State or Jurisdiction (Code) US State or Jurisdiction (Code) 0 Montana (MT) MAlabama (AL) El Nebraska (NE) ©Alaska (AK) 0 Nevada (NV) D Arizona (Az) 0 Now Hampshire (NH) 0 Arkansas (AR) El New Jersey (NJ) 0 California (CA) ©New Mexico (NM) KI Colorado (CO) 0 New York (NY) El Connecticut (CT) ©North Carolina (NC) 0 Delaware (DE) 0 North Dakota (ND) 0 District of Columbia (DC) EJ Ohio (OH) 0 Florida (FL) 0 Oklahoma (OK) 0 Georgia (GA) M Oregon (OR) tl Guam (GU) 0 Pennsylvania (PA) r]Hawaii (HI) 0 Puerto Rico (PR) I]Idaho (ID) 0 Rhode Island (RI) 0 Illinois (IL) E l South Carolina (SC) 0 Indiana (IN) 0 South Dakota (SD) l Iowa (IA) 0 Tennessee (TN) 1 Kansas (KS) 0 Texas (TX) LEI Kentucky (KY) 0 Utah (UT) 0 Louisiana (LA) ®Vermont (VT) 0 Maine (ME) ®Virgin Islands (VI) 0 Maryland (MD) 11 Virginia (VA) r]Massachusetts (MA) 10 Washington (WA) Fj Michigan (MI) 0 Wisconsin (WI) D Minnesota (MN) 0 West Virginia MM 0 M€ssissippi (MS) 0 Missouri (MO) r]Government Securities Broker- SEC File No.: Dealer Bank Identifier: _ 0 Other SEC Registration _ .. _. .__.... _ _.._......'. (Specify): SEC File No,(if any): EDGAR CIK(if any): Another federal or state regulator(Specify): Registration No.(if any): (3)Additional Registrations: (a)Does the applicant have any Yes Q No additional registrations that are not listed in subsection(2)? (b)List any such additional registrations on Section 1-D of $ohedu a D. E. Principal Office and Place of Business (1)Address:Do not use a P.O.Box. Street Address 1: 11470 Maria Lane Street Address 2: 1SWTE 315 City: P61nut Creek State/Country: CALIFORNiA Postal Code: 94596 Telephone Number at this location: 925-478-7450 —--- Fax Number(if any)at this location: 926-478-7697 For non-US telephone and fax numbers,include country code with area code and local number. Is this address a private residence?A '-Yes'D No private residential address will not be included in publicly available versions of this registration form. (2)Additional Offices: (a)Is municipal advisor-related "Yes No business conducted at any office(s) other than applicant's principal office and place of business listed above? (b)If"Yes,"list the five largest such additional offices on Section 1-E of Schedule D. (3)Mailing Address:Is the mailing Yes ' No address different from principal office and place of business address in Item 1-E(1)? If"Yes,"complete this item. Is this address a private residence?A ='Yes'' No private residential address will not be included in publicly available versions of this registration form, F.Website (1)Provide the address of the applicant's principal website(if any): (specify) .urbanfuturesinc.com (2)Does the applicant have any Yes * No additional websites? (3)Total number of additional websites (specify) (4)List all additional website addresses on Section 1-F of Schedule D. G. If the applicant has a Chief Compliance Officer, provide his or her name and contact information Please note that the applicant must provide name and contact information for either a Chief Compliance Officer in Question 1.G.,or another contact person in Question 1,H below, Both may be provided. Enter all the letters of each name and not initials or other abbreviations.If no middle name,enter NMN on that line. Last Name: McManus First Name: lKimberly Middle Name: imarie Other title(s),if any: President ARS Street Address 1: 1101 Eisenhower Parkway Street Address 2: ISuite 107 City: Rose an Statelcountry: INEWJERSEY �- Postal Code: For non-US telephone and fax numbers,include country code with area code and local number. Telephone Number: 973-818-9500 Fax Number: 973-sie-95ot - - E-mail Address of Chief Compliance kmcmanus@altemativereg,com Officer.- H. Contact Person If a person other than the Chief Compliance Officer is authorized to receive Information and respond to questions about this form,provide the name and contact Information for that person: Please note that the applicant must provide name and contact information for either a Chief Compliance Officer in Question 1.G„or another contact person in Question 1.H below.Both may be provided. Enter all the letters of each name and not initials or other abbreviations.If no middle name,enter NMN on that line. Last Name: Pickett _..__.._ _ -- . First Name: Jeff Middle Name: lRobert J Other title(s),if any: Principal Street Address 1: 11470 M__.-.�..-�-ART LANE Street - i Street Address 2: SUITE 315 City: JRL UT CREEK A State/Country: Postal Code: For non-US telephone and fax numbers,include country code with area code and local number. Telephone Number: 25-478-7450 Fax Number: 25 478-7697 E-mail Address of Contact Person: left@isoma visors com I. Location of Books and Records (1)Does the applicant maintain,or Q Yes No intend to maintain,some or all of the books and records required to be kept under MSRB rules and SEC rules at a location other than the principal office and place of business address listed in Item 1-E? (2)If"Yes,"fist all such locations in Section 1-I of Schedule D. J. Foreign Financial Regulatory Authorities t1)Is the applicant registered with a Yes J No (foreign financial regulatory authority? Answer"no"even if affiliated with a business that is registered with a foreign financial regulatory authority. F)If"Yes,"list all such registrations in e)ctlon 1-J of S-hedule-D. K. Business Affiliates of the applicant (1)Is the applicant afiitlatedwlth any 0 Yes @ No other domestic or foreign business entities? (2)If"Yes,"provide the names of all such affiliates and any all p liable registrations In 4�tnSof Schedule D. Item 2 Form of Organization A.Applicant's form of organization If this is not an Initial application,and the applicant's form of organization has changed since the applicant's most recent Form MA,see Instruction 8 of the General Instructions. G Corporation cO Sole Proprietorship 0 Limited Liability Partnership(LLP) Partnership 0 Limited Liability Company(LLC) Limited Partnership(LP) Other(specify) B. Month of Applicant's Annual Fiscal Year End (Sole proprietors are not required to June complete this subpart B.) C.State, Other US Jurisdiction, or Foreign Jurisdiction Under Which Applicant is Organized If the applicant is a corporation or limited liability company,indicate the state or jurisdiction where the applicant is incorporated. If the applicant is a partnership,indicate the name of the state or jurisdiction under the laws of which the partnership was fonned.If applicant is a sole proprietor,indicate the state or jurisdiction in which applicant resides. If this is not an initial application for registration,and the applicant's information has changed since the applicant's most recent Form MA,see General Instruction 8. Enter the full name of the US, CA jurisdiction,or the full name,in English,of the foreign jurisdiction: D. Date of Organization: 08-22-1972 E. Public Reporting Company (1)Is the applicant a public reporting OYes @No company under Sections 12 or 15(d) of the Securities Exchange Act of 1934? Item 3 Successions A.Is the applicant,at the time of this filing, succeeding to the business of a registered municipal aalviso►? If this succession was previously reported on Form MA, do not report the succession again,Instead,check"No."See Instruction 1 of the Specific Instructions for Form MA included in the General Instructions. 0 Yes @ No If"Yes"enter the Date of Succession: B. If"Yes,"in Item 3.A., complete Section 3 of Schedule D. If"Yes,"in Item 3.A.,complete Section 3 of Schedule D. Item 4 Information About Applicant's Business Note:Instruction 2 of the Specific Instructions for Certain Items in Form MA included in the General Instructions provides guidance for newly formed municipal advisors completing this Item 4. Employees If the applicant is organized as a sole proprietorship,include the sole proprietor as an employee. A.Number of Employees: Approximate number of employees of applicant.Include full-and part-time 17 employees,but do not include clerical,administrative,or support workers(or workers performing similar functions):(If none,enter a zero.): 13.Municipal Advisory Activities Approximately how many of these employees engage in municipal advisory 16 activities?(Include such employees even if they perform other functions in addition to engaging in municipal advisory activities.)If none,enter a zero. C.Registered Representatives (1)Approximately how many of the employees who are included in the response to 0 part B are registered representatives of a broker-dealer?if none,enter a zero. (2)Approximately how many are investment adviser representatives?if none,enter c a zero. D. Firms and Other Persons that Solicit on Behalf of the Applicant Approximately how many firms and other persons who are not employed by the o applicant and who are not otherwise associated persons of the applicant solicit clients on the applicant's behalf?(If none,enter a zero.Count a firm only once;do not count each of the firm's employees that solicits on the applicant's behalf.) Please list the names of these firms and other persons on Section 4-D of Schedule D. E.Employees Also Acting as Affiliates of the Applicant (1)Does the applicant have any employees that also do business independently on OYES @NO the applicant's behalf as affiliates of the applicant? (2)Total number of such employees: (3)List the names of these employees on Section 4-E of Schedule D. Clients F.Types of Clients Approximately how many clients did the applicant serve in the context of its aao municipal advisory activities during its most-recently completed fiscal year?(If none, enter a zero and check box 5 below). The applicant has the following types of clients: Check all that apply. M(1)Municipal Entities l (2)Nan-profit organizations(e.g.,501(c)(3)organizations)who are obligated persons ©(3)Corporations or other businesses not listed above who are obligated persons (4)Other:(specify) ! (5)Not applicable-applicant engages only in solicitation;does not serve clients in the context of Its municipal advisory activities G.Solicitations Of Municipal Entities and Obligated Persons Approximately how many municipal entities and obligated persons were solicited by the applicant on behalf of a third-party during its most-recently completed fiscal year?(if the applicant solicits its clients in addition to serving these clients in the context of its municipal advisory activities,the clients should be counted in the response to this Part G even if counted in Part F.) (1)Municipal Entities: Q If none,enter a zero. (2)Obligated Persons: p If none,enter a zero (3)Total: o H.Types of Persons Solicited The applicant solicits the following types of persons: Check all that apply. 0(1)Public pension funds C7(2)529 Plans (3)Local government investment pools (4)State government investment pools (5)Hospitals (6)Colleges 1E1(7)Other:(specify) I (8)Not applicable—applicant only serves clients;does not engage in solicitation in the context of its municipal advisory activities Compensation Arrangements I.Applicant is compensated for its advice to or on behalf of municipal entities or obligated persons with respect to municipal financial products or the Issuance of municipal securitlos by; Check all that apply. (1)Hourly charges (2)Fixed fees(not contingent on the issuance of municipal securities) t (3)Contingent fees 0(4)Subscription fees(for a newsletter or other publications) L(5)Other:(specify) Cl(6)Not applicable—applicant engages only in solicitation;does not serve clients in the context of its municipal advisory activities J.Applicant is compensated for its solicitation activities by: Check all that apply. (1)Hourly charges (2)Fixed fees(not contingent on the success of solicitations) L-i(3)Contingent fees 10(4)Subscription fees(for a newsletter or other publications) 10(5)Other:(specify) 9(6)Not applicable;applicant only serves clients;does not engage In solicitation as part of its municipal advisory activities K.Does the applicant receive compensation,in the context of its municipal advisory activities,from anyone other than clients? OYES®NO If"Yes",please explain: Applicant's Business Relating to Municipal Securities L.Applicant Is engaged In the following types of activities: Check all that apply. ® (1)Advice concerning the issuance of municipal securities(Including,without limitation,advice concerning the structure,timing,terms and other similar matters,such as the preparation of feasibility studies,tax rate studies,appraisals and similar documents,related to an offering of municipal securities) C0 (2)Advice concerning the investment of the proceeds of municipal securities(including,without limitation,advice concerning the structure,timing, terms and other similar matters concerning such Investments) M (3)Advice concerning municipal escrow investments(including,without limitation,advice concerning their structure,timing,terms and other similar matters) ® (4)Advice concerning the investment of other funds of a municipal entity(including,without limitation,advice concerning the structure,timing, terms and other similar matters concerning such investments) G�! (6)Advice concerning guaranteed Investment contracts(Including,without limitation,advice concerning their structure,timing,terms and other similar matters) (6)Advice concerning the use of municipal derivatives(including,without limitation,advice concerning their structure,timing,terms and other similar matters) M (7)Solicitation of investment advisory business from a municipal entity or obligated person(including,without limitation,municipal pension plans) on behalf of an unaffiliated broker,dealer,municipal advisor or investment adviser(e.g.,third party marketers,placement agents,solicitors,and finders) M (8)Solicitation of business other than investment advisory business from a municipal entity or obligated person on behalf of an unaffiliated person or firm(e.g.,third party marketers,placement agents,solicitors,and finders) 9 (9)Advice or recommendations concerning the selection of other municipal advisors or underwriters with respect to municipal financial products or the issuance of municipal securities n (10)Brokerage of municipal escrow investments 11 Other. s eci Advice regarding economic developmenibudget-- --piing and developmeni and financial planning. item 5 Other Business Activities A.Applicant is actively engaged in business in or as a: Is Applicant Actively Is this Applicant's Engaged? Primary Check all that apply. Business(es)? Check all that apply. 1.Broker-dealer,municipal securities dealer or El government securities broker or dealer 2.Registered representative of a broker-dealer CK p 3.Commodity pool operator(whether registered El D or exempt from registration) 4.Commodity trading advisor(whether Iq EJ registered or exempt from registration) 5.Futures commission merchant El In 6.Major swap participant 0 ITI 7.Major security-based swap participant 0 Cl 8.Swap dealer C7 9.Security-based swap dealer p !� 10.Trust company 173 11.Rea[estate broker,dealer,or agent 0 ri 12.Insurance company,broker,or agent in P 1 13.Banking or thrift institution(including a 0 El separately identifiable department or division of a bank) 14.Investment adviser(including financial El Il planners) 15.Attorney or law firm(Jurisdiction(s)where 0 El licensed) Jurisdiction(s)where licensed(specify) -1 16.Accountant or accounting firm(Jurisdiction(s) Il 10 where licensed) Jurisdiction(s)where licensed(specify) I 17.Engineer or engineering firm f r�Jurisdiction(s)where licensed 18.Other financial product advisor (specify) B.Other Business (1)Is applicant actively engaged in any other 0 Yes 0 No business not listed in Part A of this Item(other than engaging in municipal advisory activities)? (2)If"Yes"to Part B-1.,is this other business Q Yes @ No applicant's primary business? (3)If"Yes"to Part 13-2.,describe the other business on Section 5-13 of Schedule D. Item 6 Financial Industry and Other ActiVities of Associated Persons A.Applicant has one or more associated persons that is a: Check all that apply. Associated Person'herein refers to a person who is an associated person of a municipal advisor.Note that"associated person"includes employees and persons with control over the municipal advisor that do not themselves engage in municipal advisory activitles,but does not include employees that are performing solely clerical,administrative,support or other similar functions.Note also that more than one box maybe applicable to any such associated person.For example,if an associated person is both a swap dealer and security-based swap adviser,check both boxes(4)and(5)below. U(1)Broker-dealer,municipal securities dealer,or government securities broker or dealer r](2)Investment company(including mutual funds) (3)Investment adviser(including financial planners) (4)Swap dealer Cr7(5)Security-based swap dealer 1l(6)Major swap participant 111(7)Major security-based swap participant V1(8)Commodity pool operator(whether registered or exempt from registration) r1(9)Commodity trading advisor(whether registered or exempt from registration) n(10)Futures commission merchant r!(11)Banking or thrift institution C](12)Trust company (13)Accountant or accounting firm 1(14)Attorney or law firm [ (15)Insurance company or agency C](16)Pension consultant El(17)Real estate broker or dealer C7{18}Sponsor or syndicator of limited partnerships 0(19)Engineer or engineering firm El(2 0)Other municipal advisor Total Associated Persons: Provide the total number of such associated persons: Provide the total number of such associated persons,not the number of boxes checked.For example,if the applicant's associated persons are 2 broker-dealers, 1 investment company,and 2 pension consultants,then 3 boxes would be checked in Item 6-A.1 to 20,while the total number of such associated persons entered in Item 6-A., Total Associated Persons,would be 5.if there are no associated persons,enter 0(zero). B.Applicant must list all such associated persons, including foreign associated persons, on Section 6 of Schedule D. If Item 6-A. Total Associated Persons,is 2 or more,the applicant must complete a separate 5egUon 6 of Schedule D for each associated person. Item 7 Participation or Interest of Applicant, or of Associated Persons of Applicant, in Municipal Advisory Client or Solicitee Transactions Proprietary Interest in Municipal Advisory Client or Solicitee Transactions A.Does applicant or any associated person: (1)buy securities or other investment or derivative products for itself from clients or C Yes @ No solicitees in the context of its municipal advisory activities,or sell securities it owns to such clients or solicitees? (2)buy or sell for itself securities(other than shares of mutual funds)or other 0 Yes @ No investment or derivative products that the applicant also recommends to such clients or solicitees? (3)enter into derivatives contracts with such clients or solicitees? C Yes @ No (4)recommend securities or other investment or derivative products to such clients C Yes @ No or solicitees in which applicant or any associated person has some other proprietary (ownership)interest(other than those mentioned in Items 7-A(1),(2)or(3)above)? Sates Interest in Client or Solicitee Transactions B. Does applicant or any associated person: (1)recommend purchases of securities or derivatives to clients or solicitees that are 10 Yes @ No served by the applicant or associated person,for which the applicant or any associated person serves as underwriter,general or managing partner,or purchaser representative? (2)recommend purchases or sales of securities or derivatives to such clients or Yes 0 No solicitees in which applicant or any associated person has any other sales interest (other than the receipt of sales commissions as a broker or registered representative of a broker-dealer)? Investment or Brokerage Discretion C. Does applicant or any associated person have discretionary authority to determine the: (1)securities or other investment or derivative products to be bought or sold for the C3 Yes C�No account of a client or solicitee? (2)amount of securities or other investment or derivative products to be bought or a Yes @ No sold for the account of such a client or solicitee? (3)(a)broker or dealer to be used for a purchase or sale of securities or other 0 Yes 0 No investment or derivative products for the account of such a client or solicitee? (b)If"Yes,"are any of the brokers a dealers associated persons? Yes 0 No (4)commission rates or other fees to be paid to a broker or dealer for such a clients Q Yes J No or solicitee's securities transactions or transactions In other investment or derivative products? D. (1)Does applicant or any associated person recommend brokers,dealers or Yes C)No l�nvestment advisers to clients or solicitees in the context of its municipal advisory activities? (2)If"Yes,"is any such broker,dealer,or investment adviser an associated person? Yes 0 No In responding to items 7-E and 7-F below,consider all cash and non-cash compensation that the applicant or an associated person gave or received from any person in exchange for referrals of such clients or solicitees,including any bonus that is based,at least in part,on the number or amount of such referrals. E. Does the applicant or any associated person, directly or indirectly,compensate any person for referrals of clients or solicitees in connection with municipal advisory activities? 1 Yes I'No F. Does the applicant or any associated person,directly or indirectly, receive compensation from any person for referrals of clients or solicitees in connection with municipal advisory activities? 0Yes °4No Item 8 Owners, Officers and Other Control Persons A.Identifying Owners, Officers and Other Control Persons (1)In this Item,identify every person that,directly or indirectly,controls the applicant,or that the applicant directly or Indirectly controls. (a)If this is an initial application,the applicant must complete Schedule A and Schedule B. Schedule A asks for information about direct owners and executive officers. Schedule 8 asks for information about indirect owners. (b)If this is an amendment updating information reported on either the Schedule A or Schedule B(or both)filed with the applicant's initial application,the applicant must also complete Schedule C. (2)Does any person not named In Item 1-A or Schedules A,B,or C,directly or Yes®No indirectly,control the applicant's management or policies? (3)If"Yes"to Item 8-A.2,above,complete Section 8-A of Schedule D. B. Public Reporting Companies (1)Is any person in Schedules A,B,or C,or in Section 8-A of Schedule D a public Yes 0 No reporting company under Sections 12 or 16(d)of the Securities Exchange Act of 1934? (2)If"Yes"to Item 8-6.1.above,complete Section 8-13 of Schedule Q. Item 9 Disclosure Information In this Item,provide information about the criminal,regulatory,and judicial history,if any,of the applicant and each associated person of the applicant. This Information is used to determine whether to approve an application for registration,to decide whether to revoke registration,or to place limitations on the applicant's activities as a municipal advisor,and to identify potential problem areas on which to focus during on-site examinations. One event may result in the requirement to answer"Yes"to more than one question below. Refer to the Glossary of Terms for explanations of italicized terms,such as associated person. Criminal Action Disclosure If the answer is"Yes"to any question below in Part A or 8 below, complete a Criminal Actfon DRP. Disclosure of any event listed in this Criminal Action Disclosure Section is not required if the date of the event was more than ten years ago.For purposes of calculating this ten-year period, the date of an event is the date that the final order,judgment,or decree was entered,or the date that any rights of appeal from preliminary orders,judgments,or decrees lapsed. Check all that apply. A. In the past ten years,has the applicant or any associated person: (1)been convicted of any felony,or pled guilty or note contendere("no contest")to (DYes J No any charge of a felony,in a domestic,foreign,or military court? (2)been chargedwith any felony? OYes@) No The response to Item 9 A(2)may be limited to charges that are currently pending, B.In the past ten years,has the applicant or any associated person: (1)been convicted of any misdemeanor,or pled guilty or nolo contendere("no OYes0a No contest"),in a domestic,foreign,or military court to any charge of a misdemeanor in a case involving:municipal advisor-related business,investments or an Investment- related business,or any fraud,false statements,or omissions,wrongful taking of property,bribery,perjury,forgery,counterfeiting,extortion,or a conspiracy to commit any of these offenses? (2)been charged with a misdemeanor of the kind listed in Item 9-13(1)? (DYes No The response to Item 9-B(2)may be limited to charges that are currently pending. Regulatory Action Disclosure If the answer is"Yes"to any question in Parts C-G below,complete a Regulatory Action DRP. Check all that apply. C. Has the SEC or the CFTC ever: (1)found the applicant or any associated person to have made a false statement or OYes 4 No omission? (2)found the applicant or any associated person to have been involved in a violation OYes0 No of any SEC or CFTC regulation or statute? (3)found the applicant or any associated person to have been a cause of the denial, `0Yesre No suspension,revocation,or restriction of the authorization of a municipal advisor- related or an investment-related business to operate? (4)entered an order against the applicant or any associated person In connection ()Yes @ No with municipal advisor-related or Investment-related activity? (5)imposed a civil money penalty on the applicant or any associated person,or OYes ®No ordered the applicant or any associated person to cease and desist from any activity? D. Has any other federal regulatory agency, any state regulatory agency,or any foreign financial regulatory authority ever: (1)found the applicant or any associated person to have made a false statement or OYes O No omission,or been dishonest,unfair,or unethical? (2)found the applicant or any associated person to have been involved In a violation Oyes @ No of municipal advisor-related or investment-related regulations or statutes? (3)found the applicant or any associated person to have been the cause of a denial, OYes 0 No suspension,revocation,or restriction of the authorization of a municipal advisor- related or an investment-related business to operate? (4)entered an order against the applicant or any associated person in connection Oyes @ No with a municipal advisor-related or investment-related activity? (5)denied,suspended,or revoked the registration or license of the applicant or that OYes 4 No of any associatedperson,or otherwise prevented the applicant or any associated person,by order,from associating with a municipal advisor-related or investment- related business or restricted the activities of the applicant or any associated person? E. Has any self-regulatory organization or commodities exchange over: (1)found the applicant or any associated person to have made a false statement or OYes @ No omission? (2)found the applicant or any associated person to have been involved in a violation OYes 0 No of its rules(other than a violation designated as a"minor rule violation"under a plan approved by the SEC)? (3)found the applicant or any associated person to have been the cause of a denial, OYes *No suspension,revocation or restriction of the authorization of a municipal advisor- related or an investment-related business to operate? (4)disciplined the applicant or any associated person by expelling or suspending the OYes U No applicant or the associated person from membership,barring or suspending the applicant or the associated person from association with other members,or by otherwise restricting the activities of the applicant or the associated person? F. Revocation or Suspension: Has the applicant or any associated person ever had an authorization to act as an 0Yes @ No attorney,accountant,or federal contractor revoked or suspended? G. Regulatory Proceedings: Is the applicant or any associated person currently the subject of any regulatory ()Yes O No proceeding that could result in a"Yes"answer to any part of Item 9-C,9-1),or 9-E.? Civil Judicial Disclosure If the answer is"Yes"to a question below,complete a VLvLl dydxw Action DRp Check all that apply. H.(1) Has any domestic or foreign court ever: (a)enjoined the applicant or any associated person in connection with any OYes 9 No municipal advisor-related or investment-related activity? (b)found that the applicant or any associated person was involved in a violation of OYes 0 No any municipal advisor-related or investment-related statuto(s)or regulation(s)? ic)dismissed,pursuant to a settlement agreement,a municipal advisor-related or OYes -No investment-related civil action brought against the applicant or any associated person by a state or other US jurisdiction or a foreign financial regulatory authority! (2) Current Proceedings: Is the applicant or any associated person the subject of any currently ending civil OYes *No proceeding that could result in a"Yes"answer to any part of Item 9-Ht)? Item 10 Small Businesses The SEC is required by the Regulatory Flexibility Act to consider the effect of its regulations on small entities.In order to do this,the SEC needs to determine whether you meet the Small Business Administration's definition of"small business"for purposes of entities that provide investment and related activities.Accordingly,answer"Yes"or"No,"as appropriate,to the questions below, A.Did the applicant have annual receipts of less than$7 million during its most O Yes 4 No recent fiscal year(or during the time the applicant has been in business,if it has not completed its first fiscal year in business)? B.Is the applicant affillated with any business or organization that had annual Yes No receipts of$7 million or more during its most recent fiscal year(or during the time It has been in business,if it has not completed its first fiscal year in business)? Form MA APPLICATION FOR MUNICIPAL ADVISOR REGISTRATION DOMESTIC MUNICIPAL ADVISOR EXECUTION You must complete the following execution page to Form MA.This execution page must be signed and attached to your initial application for SEC registration and all amendments to registration, Appointment of Agent for Service of Process By signing this Form MA,you,the undersigned advisor,irrevocably appoint the Secretary of State or other legally designated officer,of the state in which you maintain your principal office and place of business,as your agents to receive service,and agree that such persons may be served any process,pleadings,subpoenas,or other papers in(a)any investigation or administrative proceeding conducted by the Commission that relates to the applicant or about which the applicant may have information;and(b)any civil suit or action brought against the applicant or to which the applicant has been joined as defendant or respondent,in any appropriate court in any place subject to the jurisdiction of any state or of the United States of America or of any of its territories or possessions or of the District of Columbia,where the investigation,proceeding or cause of action arises out of or relates to or concerns municipal advisory activities of the municipal advisor. The applicant stipulates and agrees that any such civil suit or action or administrative proceeding may be commenced by the service of process upon,and that service of an administrative subpoena shall be effected by service upon the above-named Agent for Service of Process,and that service as aforesaid shall be taken and held in all courts and administrative tribunals to be valid and binding as if personal service thereof had been made. Signature I,the undersigned,sign this Form MA on behalf of,and with the authority of,the municipal advisor. The municipal advisor and I both certify,under penalty of perjury under the laws of the United States of America,that the information and statements made in this Form MA,including exhibits and any other information submitted,are true and correct,and that I am signing this Form MA as a free and voluntary act. I cortify that the advisor's books and records will be preserved and available for inspection as required by law. Finally,I authorize any person having custody or possession of these books and records to make them available to federal regulatory representatives. Heff Pickett 09-06-2024 Signature: Date: Jeff Pickett W Advisor CRD Number(if any): Principal Title: FORM MA APPLICATION FOR "MUNICIPAL ADVISOR REGISTRATION" NON-RESIDENT MUNICIPAL ADVISOR EXECUTION Instructions:If you are a non-resident,you must complete these steps: 1,Execution Pagg:You must complete the following non-resident execution page to Form MA.This execution page must be signed and attached to your initial application for SEC registration and all amendments to registration. 2.Opinion of Counsel:You must also attach to Form MA an Opinion of Counsel.See General Instructions. 3.Form MA-NR:You must also attach to Form MAone or more executed Form MA-NR(s)forthe non-resident municipal advisor applicant,and,if any, the non-resident general partner(s)and/or non-resident managing agents.See General Instructions for Form MA-NR. Non-Resident Municipal Advisor Undertaking Regarding Books and Records By signing this Form MA,you agree to provide,at your own expense,to the U.S,Securities and Exchange Commission at its principal office in Washington Q.C.,at any Regional or District Office of the Commission,or at any one of its offices in the United States,as specified by the Commission, correct,current,and complete copies of any or all records that you are required to maintain by law, This undertaking shall be binding upon you,your heirs,successors and assigns,and any person subject to your written irrevocable consents or powers of attorney or any of your general partners and managing agents. Signature I,the undersigned,sign this Form MA on behalf of,and with the authority of,the non-resident municipal advisor.The municipal advisorand I both certify, under penalty of perjury under the laws of the United States of America,that the information and statements made in this Form MA,including exhibits and any other information submitted,are true and correct,and that I am signing this Form MA as a free and voluntary act. I certify that the municipal advisor's books and records will be preserved and available for inspection as required by law.Finally,I authorize any person having custody or possession of these books and records to make them available to federal regulatory representatives. Further,attached to this Form MA as an exhibit is an opinion of counsel that the municipal advisorcan,as a matter of law,provide the Commission with access to the books and records of such municipal advisor,as required by law,and that the municipal advisor can,as a matter of law,submit to inspection and examination by the Commission. Finally,attached as an exhibit to this Form MA is one or more executed Form MA-NR(s)for the non-resident municipal advisor rapplicant,and,if any,the non-resident general partner(s)and/or non-resident managing agents. Signature: Date: Printed Name: Advisor CRD Number(if Title: any): SCHEDULE A Direct Owners and Executive Officers of the Applicant 1. Complete Schedule only If submitting an Initial application.Schedule Aasks for information about the applicant's direct owners and executive officers.Use Schedule C to amend this information. Guidance:To determine direct ownership and executive officer status,see instruction 2 below. Separate subparts of Schedule A must be completed for:(1)direct owners that are business entities,and(2)direct owners and executive officers who are natural persons,as follows: •Complete Schedule A-1:"direct Owners of Applicant-Business Entities,"for owners that are organized as a business or other legal entity,such as a corporation,partnership,trust,or limited liability company. •Complete Schedule A-2:"Direct Owners and Executive Officers of Applicant-Natural Persons,"for owners who are individuals, including sole proprietors,and for executive officers. 2. List In either Schedule A-1 or Schedule A-2 below,or both,as applicable,the fu[[names of: (a)If applicant is organized as a corporation,each shareholder that is a direct owner of 5%or more of a class of the applicant's voting securities, unless applicant is a public reporting company(a company subject to Sections 12 or 15(d)of the Exchange Act).Direct owners include any person that awns,beneficially owns,has the right to vote,or has the power to sell or direct the sale of,5%or more of a class of the applicant's voting securities.For purposes of this Schedule,a person beneficially owns any securities:(i)awned by his/her child,stepchild,grandchild,parent, stepparent,grandparent,spouse,sibling,mother-in-law,father-in-law,son-in-law,daughter-in-law,brother-in-law,or sister-in-law,sharing the same residence;or(ii)that he/she has the right to acquire,within 60 days,through the exercise of any option,warrant,or right to purchase the security; (b)If the applicant is organized as a partnership,all general partners and each limited and special partner that has the right to receive upon dissolution,or has contributed,5%or more of the applicant's capital; (c)In the case of a trust,a person that directly owns 5%or more of a class of the applicant's voting securities,or that has the right to receive upon dissolution,or has contributed,5%or more of the applicant's capital,the trust and each trustee; (d)If the applicant is organized as a limited liability company("LLC"),(i)each member that has the right to receive upon dissolution,or has contributed,5%or more of the applicant's capital,and(I i)if managed by elected managers,all elected managers;and (e)Each Chief Executive Officer,Chief Financial Officer,Chief Operations Officer,Chief Legal Officer,Chief Compliance Officer,director and any other individuals with similar status orfunctions(applies in Schedule A-2 only). 3. In the DEIFE column of Schedule A-1 below,enter"DE"if the owner is a domestic entity,or"FE"if the owner is an entity organized, incorporated or domiciled in a foreign country. 4. Complete the Title or Status column by entering boardlmanagementtitles;status as partner,trustee,sole proprietor,elected manager, shareholder,or member.For shareholders or members,indicate the class of securities owned(if more than one is issued). In the next column indicate the date that the title or status was acquired. 5. Ownership Codes are: NA-less than 5% A-5%but less than 10% B-10%but less than 25% C-25%but less than 50% D-50%but less than 76% E-75%or more 6. (a)In the Control Person column,enter"Yes"in the first sub-column if the person has control as defined in the Glossary of Terms to Form MA, and enter"No"if the person does not have control.Nate that under this definition,most executive officers and all 25%owners,general partners, elected managers,and trustees are control persons. (b)In the PR sub-column(Schedule A-1 only)enter"PR"if the owner is a public reporting company under Section 12 or 15(d)of the Exchange Act. 7. (a)For Schedule A-1,enter the organization CRD number.If not registered with the CRD,then enter the IRS Tax Number,Employer Identification Number("EIN"),or Foreign Business Number. (b)For Schedule A-2,enter the individual CRD number,If not registered with the CRD,then enter 0000000. 8• Does applicant have any Indirect owners to be reported on Schedule B? 0 Yes@ No Schedule A-1: Direct Owners of Applicant -Business Entities Schedule A-2: Direct Owners and Executive Officers of Applicant - Natural Persons NATURAL PERSON FULL LEGAL NAME Enter all the letters of each name and not initials or other abbreviations.If no middle name,enter NMN on that line. Last Name: First Name: Middle Name: Busch Michael Paul Title or Status: [President Date Title or Status Acquired: 03-01-2014 Ownership Cade: °' NA-less than 5% -' B-10%but less than D-50%but less than 25% 75% A-5%but less than 10% `-a C-25%but less than E-75%or more 50% Control Person: =D YES o' NO Individual CRD No.(if none:enter 0000000): CRD No,: NATURAL_PERSON FULL LEGAL NAME Enter all the letters of each name and not initials or other abbreviations.If no middle name,enter NMN on that line. Last Name: First Name: Middle Name: McManus Kimberly Marie Title or Status: Chief Compliance Officer Date Title or Status Acquired: 03-01-2016 Ownership Code: NA-less than 5%® B-10%but less than fD-50%but less than 25% 75% --A-5%but less than 10% C-25%but less than -' E-75%or more 50% Control Person: YES° NO Individual CRD No.(If none:enter 0000000): CRD No.: NATURAL PERSON FULL LEGAL NAME Enter all the letters of each name and not initials or other abbreviations.If no middle name,enter NMN on that tine. Last Name: First Name: Middle Name: Isom Jonathan T Title or Status: Managing Principal Date Title or Status Acquired: 01-31-2023 Ownership Code: NA-less than 5% J B-10%but less than ° D-50%but less than 25% 75% A-5%but less than 10% -,? C-25%but less than E-75%or more 50% Control Person: °'YES -' NO Individual CRD No.(if none:enter 0000000): CRD No.: NATURAL PERSON FULL LEGAL NAME Enter all the letters of each name and not initials or other abbreviations.If no middle name,enter NMN on that line. Last Name: First Name: Middle Name: Isom Gregory Scott Title or Status: Managing Principal Date Title or Status Acquired: 01-31-2023 Ownership Code: 0 NA-less than 5% B-10%but less than ©D-60%but less than 25% 75% a A-5%but less than 10% @ C-25%but less than 0 E-75%or more 50% Control Person: 0 YES NO Individual CRD No.(If none:enter 0000000): CRD No.: SCHEDULE B Indirect Owners of the Applicant Guidance:To determine indirect ownsershtp,see instructions 2 and 3 below. 1. Complete Schedule B only If applicant Is submitting an initial application.Schedule B asks for information about the applicant's indirect owners.The applicant must first complete Schedule A,which asks for information about direct owners.For purposes of Schedule B,an"indirect owner"includes any owner of 25%or more of an!r direct owner listed in Schedule A,and any owner of 25%or more of each such indirect owner going up the chain of ownership.Use Schedule C to amend the information in this schedule. Separate subparts of Schedule 6 must be completed for:(1)indirect owners that are business entities,and(2)indirect owners who are natural persons,as follows: •Complete Schedule B-1:"Indirect Owners of Applicant-Business Entities,"for owners who are organized as business or other legal entities,such as a corporation,partnership,trust,or limited liability company. •Complete Schedule B-2:"Indirect Owners of Applicant-Natural Persons,"for individuals and sole proprietors. 2. With respect to each direct owner listed on Schedule A 1 (business entities),list in either Schedule B-1 or Schedule B-2 below,as applicable: (a)In the case of a direct owner listed on Schedule A-1 that is a corporation,each of its shareholders that beneficially owns,has the right to vote,or has the power to sell or direct the sale of,25%or more of a class of a voting security of that corporation; For purposes of this Schedule,a person beneficially owns any securities:(i}owned by his/her child,stepchild,grandchild,parent,stepparent, grandparent,spouse,sibling,mother-In-law,father-in-law,son-in-law,daughter-in-law,brother-in-law,or sister-in-law,sharing the same residence;or(u)that helshe has the right to acquire,within 60 days,through the exercise of any option,warrant,or right to purchase the security. (b)in the case of a direct owner listed on Schedule A-1 that Is a partnership,all general partners and each limited and special partner that has the right to receive upon dissolution,or has contributed,25%or more of the partnership's capital; (c)in the case of a direct owner listed on Schedule A-1 that is a trust,the trust and each trustee;and (d)in the case of a direct owner listed on Schedule A-1 that is a limited liability company("LLC"),(i)each member that has the right to receive upon dissolution,or has contributed,25%or more of the LLC's capital,and(ii)if managed by elected managers,each elected manager. 3. Continue up the chain of indirect ownership listing all 25%shareholders at each level.Once a public reporting company(a company subject to Sections 12 or 15(d)of the Exchange Act)is reached,no further ownership information need be given. 4. In the DEIFE column in Schedule B-1 below,enter"DE"if the indirect owner is a domestic entity,or"FE"if the owner is an entity organized, incorporated or domiciled in a foreign country.Complete the next column by indicating the entity in the chain of ownership in which this indirect owner has an interest. 5.. Complete the Status column by entering the indirect owner's status as partner,trustee,elected manager,shareholder,of member.For shareholders or members,indicate the class of securities owned(if more than one is issued). 6. Ownership Codes are: C-25%but less than 50% D-50%but less than 75% E-75%or more F-Other(general partner,trustee,or elected manager) 7. (a)In the Control Person column,enter"Yes"in the first sub-column if the person has control as defined in the Glossary of Terms to Form MA, and enter"No"if the person does not have control.Note that under this definition,most executive officers and all 25%owners,general partners, elected managers,and trustees are control persons. (b)In the PR sub-column,for Schedule B-1 only,enter"PR"if the indirect owner is a public reporting company under Sections 12 or 15(d)of the Exchange Act. 8. (a)For Schedule B-1,enter the organization CRD number.If not registered with the CRD,then enter the IRS Tax Number,Employer Identification Number("EIN"),or Foreign Business Number. (b)For Schedule B-2,enter the individual CRD number.If not registered with the CRD,then enter 0000000. Schedule B-'I: Indirect Owners of Applicant— Business Entities Schedule B-2: Indirect Owners of Applicant— Natural Persons i SCHEDULE C Amendments to Schedules A and B 1. Use Schedule C only to amend information requested on either Schedule A or Schedule B.Refer to instructions in Schedule A and Schedule B,which also apply for this Schedule C. 2. In the Type of Amendment column, indicate"A"(addition),"D"(deletion),or"C"(change in information about the same person). 3. Ownership Codes are: • NA-less than 5% • A-5%but less than 10% • B-10%but less than 25% • C-25%but less than 50% • D-50%but less than 75% • E-75%or more • F-Other(general partner,trustee,or elected member) 4. List below all changes to Schedule A: Schedule A-1: Direct Owners of Applicant - Business Entities Schedule A-2: Direct Owners and Executive Officers of Applicant- Natural Persons Deleted Entry NATURAL PERSON FULL LEGAL NAME Enter all the letters of each name and not initials or other abbreviations.If no middle name,enter NMN on that line. Last Name: First Name: Middle Name: Busch Michaei Paul Type ofAmendment: A(addition) ° D(deletion) C(change in information) Title or Status: President Date Title or Status Acquired: 03-01-2014 Ownership Code: NA-less than 5% -'A-5%m but less than 10% B- 10%e but less than 25% C-25%but less than D-50%but less than - E-75%or more 50% 75% F-Other(general partner,trustee, or elected manager) Control person: YES° NO Individual CRD No.(If none.enter 0000000): CRD No.: 5.List below all changes to Schedule B- Amended Entry NATURAL PERSON FULL LEGAL NAME Enter all the letters of each name and not initials or other abbreviations. If no middle name,enter NMN on that line. Last Name. First Name Middle Name: Isom Jonathan T Type ofAmendment: A(addition) D(deletion) ° C(change in information) Title or Status: Chief Executive Officer Date Title or Status Acquired: e1-31-2023 Ownership Code: NA-less than 5% t3 A-5%but less than 10% B-10%but less than 25% C-25%but less than 'a' D-50%but less than E-75%or more 50% 75% ,D F-Other(general partner,trustee,or elected manager) Control Person: ,q.YES"' NO Individual CRD No.(If none:enter 0000000): CRD No.: 5.List below all changes to Schedule B: Amended Entry NATURAL PERSON FULL LEGAL NAME Enter all the letters of each name and not initials or other abbreviations.If no middle name,enter NMN on that line. Last Name: First Name: Middle Name: Isom Gregory Scott Type of Amendment: A(addition) ' D(deletion) °'C(change in information) Title or Status: Chief Financial Officer _ .. Date Title or Status Acquired: 01-31-2023 Ownership Code: NA-less than 5% 'A-5%°but less than 10% '-' B-10%but less than 25% C-25%°but less than -' D-50%but less than E-75%or more 50% 75% F-Other(general partner,trustee,or elected manager) Control Person: '° YES NO Individual CRD No.(If none:enter 0000000): CRD No.: 5.List below all changes to Schedule B: Add Entry NATURAL PERSON FULL LEGAL NAME Enter all the letters of each name and not initials or other abbreviations. If no middle name,enter NMN on that line. Last Name: First Name: Middle Name: Merrit Randall Scott Type of Amendment: A(addition) -' D(deletion) C(change in Information) Title or Status: Chief Operating Officer Date Title or Status Acquired: 12-19-2023 Ownership Code: NA-less than 5% -'A-5%but less than 10% B-10%but less than 25% C-25%but less than =' D-50%but less than E-75%or more 50% 75% -' F-Other(general partner,trustee,or elected manager) Control Person: '-YES'-' NO Individual CRD No.(if none:enter 0000000): CRD No.: 4296140 5.List below all Changes to Schedule B: Schedule B-1. Indirect Owners of Applicant - Business Entities Schedule 13-2: Indirect Owners of Applicant - Natural Persons SCHEDULE D Certain items in Part I of Form MA require additional information on Schedule D.Use this Schedule D to report details for items listed below.Report only new information or changes/updates to previously submitted information.Do not repeat previously submitted information. This is an:©INITIAL or DAMENDED Schedule D or EANNUAL UPDATE SECTION 1-B Other Names under which Municipal Advisor-Related Business is Conducted List the applicant's other business names and the jurisdictions in which they are used.A separate Schedule D must be completed for each business name,and the jurisdictions where that name is used. Select only one:Cl Add FJ Delete U Amend Name: Isom Advisors, A Division of Urban Futures Incorporated Jurisdictions: ICALIFORNIA Select only one:211 Add M Delete El Amend Name: UFI Financial Solutions Jurisdictions: ICALIFORNIA SECTION 1-D Additional Registrations of the Applicant Indicate any additional registrations with federal or state regulators,and the relevant registration number.A separate Schedule D must be completed for each such registration. SECTION 1-E Additional Offices at which the Applicant's Municipal Advisor-Related Business is Conducted Provide the location of the largest five additional offices(in terms of numbers of employees)at which the applicant's municipal advisor-related business is conducted other than applicant's principal office and place of business.A separate Schedule D must be completed for each such office. Select only one: Add Delete LJAmend Street Address 1: Street Address 2: City: State/Country: Postal Code: Is this address a private residence?r 7 A private residential address will not be included in publicly available versions of this registration form. Telephone number at this location: Fax number(if any)a this location: 661-587-2727 Select only one:R]Add'7Delete EJAmend Street Address 1: Street Address 2: City: State/Country: Postal Code: Is this address a private residence?L A private residential address will not be included in publicly available versions of this registration form. Telephone number at this location: Fax number(if any)a this location: 714-283-0334 Select only one:DAddODelete ElAmend Street Address 1: Street Address 2: City: State/Country: Postal Cade: Is this address a private residence?71 A private residential address will not be included in publicly available versions of this registration form. Telephone number at this location: Fax number(if any)a this location: 925-478-7450 Select only one:MAdd]Delete ElAmend Street Address 1: Street Address 2: City: State/Country: Postal Code: Is this address a private residence? A private residential address will not be included in publicly available versions of this registration form. Telephone number at this location: Fax number(if any)a this location: 925-478-7450 SECTION 1-F Additional Webste Addresses List any additional website addresses of the applicant.A separate Schedule D must be completed for each such website address. SECTION 1-1 Location of Books and Records Complete the following information for each location at which the applicant keeps books and records,other than its principal office and place of business.A separate Schedule D must be completed for each location. SECTION 1-J Registration with Foreign Financial Regulatory Authorities List the full name,in English,of each foreign financial regulatory authority,provide the foreign registration number(if any),and list the full name,in English,of the country with which the applicant is registered.A separate Schedule D must be completed for each foreign financial regulatory authority with whom the applicant is registered. SECTION 1-K Business Affiliates of the Applicant Provide the name of any domestic or foreign business affiliate of the applicant and any federal,state,or foreign registration of such affiliate and the registration number,A separate Schedule D must be completed for each such affiliate. SECTION 3 Successions Complete the following information if succeeding to the business of a currently-registered municipal advisor.If the applicant succeeded more than one municipal advisory firm in the succession being reported on this Form MA,a separate Schedule D must be completed for each predecessor firm.See Instruction 1 of the Specific Instructions for Certain Items in Form MA included in the General Instructions, SECTION 4-D Firms and Other Persons that Solicit Municipal Advisor Clients on the Applicant's Behalf Provide the name,address,and phone number of any firm or other person that is not otherwise an associated person of the applicant that solicits municipal advisorclients on the applicant's behalf.Aseparate Schedule D must be completed for each such firm or natural person. SECTION 4-E Employees That Also Do Business Independently on the Applicant's Behalf as Affiliates of the Applicant SECTION 5-8 Description of Primary Business(for businesses not listed in Part of Item 5) If you checked Item 5-8.2 describe the applicant's primary business(not the applicant's municipal advisor-related business): SECTION 6 Financial Industry and Other Activities of Associated Persons The following Information must be completed for each associated person in every category you checked in Item 6-A.A separate Schedule D must be completed for each such associated person. Select only one; RIAddElDelete DAmend Legal Name of Associated Person: James Morris Primary Business Name of Associated Person: Urban Futures, Inc. A.Associated person is a:Check all that apply. 10(1)Broker-dealer,municipal securities dealer,or government securities broker or dealer 0(2)Investment company(including mutual funds) ®(3)Investment adviser(including financial planners) (4)Swap dealer (5)Security-based swap dealer 0(6)Major swap participant 0(7)Major security-based swap rrticipant (8)Commodity pool operator (whether registered or exempt from registration) E(9)Commodity trading advisor (whether registered or exempt from registration) n(10)Futures commission merchant rl(11)Banking or thrift institution In(12)Trust company IJ(13)Accountant or accounting firm ®(14)Attorney or law firm (15)Insurance company or agency (16)Pension consultant 0(17)Real estate broker or dealer In(18)Sponsor or syndicator of limited partnerships Cl(19)Engineer or engineering firm C](20)Other municipal advisor B.Control Relationships and Foreign Relations (1)Control Relationships (a)Does the applicant control or is it controlled by the associated person? E Yes 19jNo (b)Are the applicant and the associated person under common control?10 Yes 0 No (2)Foreign Financial Regulatory Authority Registration (a)Is the associated person registered with a foreign financial regulatory authority? Yes IZ No (b)List the name,in English:the name of each foreign financial regulatory authority,the associated person's registration number with that authority(if any),and the country in which the authority has Jurisdiction. SECTION 8 Control Persons(on a basis other than 25%ownership or executive ofFicor status) Section 8-A.A separate Schedule D must be completed for each control person not named In Item 1-A.or Schedules A,B,or C that directly or Indirectly controls the applicant's management or policies. Section 8-B.If any person named in Schedules A,B,or C or in Section 8-A of this Schedule D is a public reporting company under Sections 12 or 15(d) of the Securities Exchange Act of 1934,provide the information below.A separate Schedule D must be completed for each public reporting company. Schodule D:MISCELLANEOUS The space below may be used to explain a response to an Item or to provide any other information. F.._ w _... CRIMINAL ACTION DISCLOSURE REPORTING PAGE (MA) REGULATORY ACTION DISCLOSURE REPORTING PAGE (MA) CIVIL JUDICIAL ACTION DISCLOSURE REPORTING PAGE (MA) City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 Regulatory Disclosure Disclosure of Conflicts of Interest and Legal or Disciplinary Events. Pursuant to Municipal Securities Rulemaking Board("MSRB") Rule G-42, on Duties of Non-Solicitor Municipal Advisors, Municipal Advisors are required to make certain written disclosures to clients and potential clients which include,amongst other things,Conflicts of Interest and any Legal or Disciplinary events of Urban Futures,Inc.("UFI")and its associated persons. Conflicts of Interest. Compensation. UFI represents that in connection with the issuance of municipal securities, UFI may receive compensation from an Issuer or Obligated Person for services rendered, which compensation is contingent upon the successful closing of a transaction and/or is based on the size of a transaction. Consistent with the requirements of MSRB Rule G-42, UFI hereby discloses that such contingent and/or transactional compensation may present a potential conflict of interest regarding UFI's ability to provide unbiased advice to enter into such transaction.This conflict of interest will not impair UFI's ability to render unbiased and competent advice or to fulfill its fiduciary duty to the Issuer. It should be noted that other forms of compensation (i.e., hourly or fixed fee based) may also present a potential conflict of interest regarding UFI's ability to provide advice regarding a municipal security transaction.These other potential conflicts of interest will not impair UFI's ability to render unbiased and competent advice or to fulfill its fiduciary duty to the Issuer. Other Municipal Advisor Relationships. UFI serves a wide variety of other clients that may from time to time have interests that could have a direct or indirect impact on the interests of another UFI client.These other clients may, from time to time and depending on the specific circumstances, have competing interests. In acting in the interests of its various clients, UFI could potentially face a conflict of interest arising from these competing client interests. UFi fulfills its regulatory duty and mitigates such conflicts through dealing honestly and with the utmost good faith with its clients. If UFl becomes aware of any additional potential or actual conflict of interest after this disclosure, UFI will disclose the detailed information in writing to the issuer or obligated person in a timely manner. Legal or Disciplinary Events. UFI does not have any legal events or disciplinary history on UFI's Form MA and Form MA-1, which includes information about any criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations and civil litigation. The Issuer may electronically access UFI's most recent Form MA and each most recent Form MA-1 filed with the Commission at the following website:www.sec.gov/edgar/searchedgar/companysearch.html. There have been no material changes to a legal or disciplinary event disclosure on any Form MA or Form MA-1 filed with the SEC.If any material legal or regulatory action is brought against UFI, UFI will provide complete disclosure to the Issuer in detail allowing the Issuer to evaluate UFI,its management and personnel 9UF1 23 EXHIBIT C Costs Proposal #2098a87vl City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 B. Cost Proposal 1) HOUrly Rates UFI is available for as-needed services on an hourly basis for research, analysis, Capital Improvement Program funding planning, and development of funding options and recommendations. Below are the hourly rates of proposed positions. UFVs Hourly Fee Schedule Chief Strategy Officer $325 Managing Director/Director $300 Associate/Analyst $175 2) Flat fees for Municipal Advisory& Dissemination Agent Services Municipal Advisor Fees For municipal advisory financing assignments, UFI proposes flat fees based on the par amount of the bonds, as summarized in the table below.Ourfees for municipal advisory services are contingent upon closing and are inclusive of out-of-pocket expenses such as travel,data recovery,third party data fees,and internal compliance requirements. Proposed Municipal Advisory Fees Par Amount Fee <$25 million $40,000 $25 million-$100 million $45,000 >$100 million $50,000 Private Placements $30,000 Dissemination Agent_Fees For the Dissemination Agent Services required by the City's existing debt obligations, as such services and obligations are described in the Request for Qualifications, UFI proposes an annual fixed fee in the amount of$13,000 for the initial year,with a$500 annual increase for each subsequent year during the contract term. During the term of the agreement, subject to mutual agreement by the City and UFI,the amount of the fee is subject to revision based on additional new debt obligations requiring dissemination services or the defeasance/maturity of existing debt obligations. ffUF1 EXHIBIT D INSURANCE REQUIREMENTS #2098087v1 Prior to undertaking performance of work under this Agreement, Consultant shall maintain and shall require any subcontractors to obtain and maintain insurance as described below for the entire Term of this Agreement against claims for injuries to persons or damage to property which may arise from or in connection with services, products and materials supplied to City. Total cost of such insurance shall be borne by Consultant. MINIMUM SCOPE AND LIMIT OF INSURANCE 1. Commercial General Liability (CGL): Insurance Services Office Form CG 00 01covering CGL on an "occurrence" basis, including products and completed operations, property damage, bodily injury and personal &advertising injury with limits no less than $2,000,000 per occurrence and $4,000,000 aggregate. Required policy limits can be met with primary and umbrella/excess insurance policies. 2. Automobile Liability: Insurance Services Office Form CA 00 01 covering Code 1 (any auto), with limits no less than$1,000,000 combined single limits. In the event Consultant does not maintain commercial automobile liability insurance, City will accept evidence of personal automobile insurance. 3. Workers' Compensation: as required by the State of California, with Statutory Limits, and Employer's Liability Insurance with limit of no less than $1,000,000 per accident, policy or employee, for bodily injury or disease. Coverage is not required if Consultant has no employees and signs request to waive such insurance. 4. Professional Liability Insurance: with limits no less than $1,000,000 per occurrence or claim, and$2,000,000 aggregate. If Consultant maintains broader coverage and/or higher limits than the minimum requirements for each line of coverage shown above, City requires and shall be entitled to the broader coverage and/or the higher limits maintained by Consultant. Any available insurance proceeds in excess of the specified minimum limits of insurance and coverage shall be available to City, Other Insurance Provisions The above required insurance policies are to contain or be endorsed to contain the following provisions: I. City, its City Council, its officers, officials, employees, agents, and volunteers are to be covered as additional insureds, under Consultant's CGL, Professional Liability, and Automobile Liability policies,with respect to any liability arising out of work or operations performed by or on behalf of the Consultant including materials, parts, equipment, and personnel furnished in connection with such work or operations. 2. Consultant's Insurance company(ics)agrees to waive all rights of subrogation against City, its City Council, its officers, officials, employees, agents, and volunteers for losses paid under the terms of any policy which arise from work performed by Consultant under this Agreement. 3. For any claims related to this contract, Consultant's insurance coverage shall be primary and any insurance maintained by City, its City Council, its officers, officials, employees, agents,or volunteers shall not contribute with it. 4. A severability of interest provision must apply for all the additional insureds, ensuring that Consultant's insurance shall apply separately to each insured against whom a claim is made or suit is brought, except with respect to the insurer's limits of liability. 5. Insurance policies required herein shall provide that coverage shall not be canceled, suspended, voided, reduced in coverage or in limits, non-renewed by the carrier, or materially changed except after thirty(30)days prior written notice has been given to City. Ten(10) days prior written notice shall be provided to City for policy cancellation or non- renewal due to nonpayment of premium. G. Certificate Holder on each Evidence of Insurance certificate shall be: City of Santa Ana, Attention: Finance and Management Services Agency,20 Civic Center Plaza,M-17,Santa Ana, CA 92701. The name and location of project must be included in the Description of Operations section of each certificate. Self-Insured Retentions Self-insured retentions must be declared to and approved by the City. The City may require the Consultant to purchase coverage with a lower retention or provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention. Acceptability of Insurers Insurance is to be placed with insurers authorized to conduct business in the State of California with a current A.M. Best rating of no less than A:VII,unless otherwise acceptable to City. Verification of Coverage Consultant shall furnish City with original Certificates of Insurance including all required amendatory endorsements(or copies of the applicable policy language effecting coverage required by this clause)and a copy of the Declarations and Endorsement Page of the CGL policy listing all policy endorsements before work begins. However, failure to obtain the required documents prior to the work beginning shall not waive Consultant's obligation to provide them. City reserves the right to require complete, certified copies of all required insurance policies, including endorsements required by these specifications, at any time. Special Risks or Circumstances City reserves the right to modify these requirements, including limits, based on the nature of the risk,prior experience, insurer, coverage, or other special circumstances. Urban Futures - Financial Advisory and Dissemination Agent Services (2025) (with Exhibits - CAO signed)(2099356. 1 ) Final Audit Report 2025-09-11 Created: 2025-09-11 By: Kristin Andrade(kandrade@santa-ana.org) Status: Signed Transaction ID: CBJCHBCAABAAiY-2A-DShWOdu7NE2rEOJ7Po9mcOXJgU "Urban Futures - Financial Advisory and Dissemination Agent Se rvices (2025) (with Exhibits - CAO signed)(2099356.1 )" History ,t Document created by Kristin Andrade (kandrade Santa-ana.org) 2025-09-11 -11:11;59 PM GMT E'l Document emailed to Alexander Trinidad (atrinidad@santa-ana.org)for signature 2025-09-11 - 11:12:28 PM GMT Email viewed by Alexander Trinidad (atrinidad@santa-ana.org) 2025-09-11 -11:19:30 PM GMT Document e-signed by Alexander Trinidad (atrinidad@santa-ana.org) Signature Date:2025-09-11 -11:19:54 PM GMT-Time Source:server Agreement completed. 2025-09-11 -11:19:54 PM GMT Adobe Acrobat Sign