5. Recommended by Office of the City Attorney for Water and Power Approval of Agreement No. 47864 between the City of Los Angeles acting by and through the Los Angeles Department of Water and Power and Allen, Jones & Giles, PLC for legal counsel services relating to bankruptcy matters for a three-year term and with an appropriation of $150,000. The rates to be paid to the firms for attorney time are $450-$475 per hour for partners, $300-$375 per hour for associates, and $225 per hour for paralegals and law clerks. The term will commence on July 23, 2024, and terminate July 22, 2027. Determine item is in compliance with CEQA Guidelines Sections 15061(b)(3).