Agenda packet — Campbell City Council, July 7, 2026 (part 1 of 4)

City Council Agenda
City of Campbell, 70 N. First St., Campbell, California NOTE: This City Council Regular meeting will be conducted in person as well as telecommunication and is compliant with provisions of the Brown Act.

The City Council meeting will be live-streamed on Channel 26 (Xfinity) or Channel 88 (Direct TV), the City's website and on YouTube https://www.youtube.com/user/CityofCampbell for those who only wish to view the meeting.

Those members of the public wishing to provide public comment virtually are asked to register in advance at: https://www.campbellca.gov/signup. After registering, you will receive a confirmation email containing information about joining the meeting. Members of the public may attend the meeting in person at Campbell City Hall - Council Chambers.

Public comment will also be accepted via email at [email protected] until 12:00 p.m. prior to the start of the meeting. Written comments will be posted on the website and distributed to the Council. If you choose to email your comments, please indicate in the subject line “FOR PUBLIC COMMENT” and indicate the item number.

REGULAR MEETING OF THE CAMPBELL CITY COUNCIL
Tuesday, July 07, 2026 07:00 PM
City Hall Council Chamber
CALL TO ORDER/ROLL CALL
PLEDGE OF ALLEGIANCE
SPECIAL PRESENTATIONS AND PROCLAMATIONS
Please Note: Items listed under Special Presentations and Proclamations are considered ceremonial. The City Council will not take action on these matters.

Proclamation Declaring July 2026 as Park and Recreation Month

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Recommended Action
That the Mayor issue a proclamation declaring the month of July 2026 as National Park and Recreation Month for the City of Campbell.

1. 2.

3. 3.1
COMMUNICATIONS AND PETITIONS
ORAL REQUESTS
NOTE: This portion of the meeting is reserved for persons wishing to address the City Council on any matter not on the agenda. Persons wishing to address the Council are requested, but not required to complete a Speaker’s Card. Speakers are limited to two (2) minutes. The law generally prohibits the Council from discussion or taking action on such items. However, the Council may instruct staff accordingly regarding Oral Requests.

COUNCIL ANNOUNCEMENTS
CONSENT CALENDAR
NOTE: All matters listed under consent calendar are considered by the City Council to be routine and will be enacted by one motion. There will be no separate discussion of these items unless a request is made by a member of City Council, City staff, or a member of the public. Any person wishing to speak on any item on the consent calendar should ask to have the item removed from the consent calendar prior to the time the Council votes to approve. If removed, the item will be discussed in the order in which it appears.

Minutes of City Council Executive Session Meeting of June 16, 2026

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Recommended Action
Approve the executive session meeting minutes of June 16, 2026.

Minutes of City Council Regular Meeting of June 16, 2026 Page 14 Recommended Action
Approve the regular meeting minutes of June 16, 2026.

Approving Payment of Bills and Claims Page 28
Recommended Action
Approve the bills and claims in the amount of $3,439,308.69.

Monthly Investment Transactions Report- May 2026 Page 30 Recommended Action
That the City Council review and accept the Monthly Investment Transactions Report for May 2026.

Monthly Treasurer’s Report (May 2026) Page 86

4. 5.

6. 7.

7.1 7.2

7.3 7.4

7.5 Tuesday, July 07, 2026 2 of 492
Recommended Action
That the City Council review and accept the Monthly Treasurer’s Report for the month ended May 31, 2026.

Adoption of Ordinance 26-2353 Adjusting City Council
Compensation

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Recommended Action
That the City Council take second reading of Ordinance 26-2353 adjusting City Council Compensation effective January 2027.

Approve an agreement with HdL Companies for sales or
transaction and use tax services, authorize the City Manager to execute the agreement, and dispense with bidding
procedures (Resolution/Roll Call Vote)

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Recommended Action
That the City Council adopt a resolution approving an agreement, authorizing the City Manager to execute a five-year Agreement with Hinderliter, De Llamas & Associates (HdL Companies) to provide Sales or Transaction and Use Tax Audit Services and Sales or Transaction and Use Tax Management Services, and dispensing with the bidding procedures specified in Campbell Municipal Code (CMC) Section 3.20.050.

Resolution Approving the Revision of the Recreation
Coordinator, Community Services Officer, and Street and Fleet Maintenance Supervisor Classification Specifications, and the Addition of a New Classification Specification for Lead Mechanic (Resolution/Roll Call Vote)

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Recommended Action
Adopt a resolution approving the revised classification specifications for Recreation Coordinator, Community Services Officer, and Street and Fleet Maintenance Supervisor, and a new classification specification for Lead Mechanic.

Approval of Memorandum of Understanding between City of Campbell and Campbell Municipal Employees Association
(CMEA) (Resolution/Roll Call Vote)

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Recommended Action
That the City Council adopt a resolution ratifying a successor Memorandum of Understanding, effective July 1, 2026 through June 30, 2028, between the City of Campbell and the Campbell Municipal Employees Association (CMEA).

7.6 7.7

7.8 7.9
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PUBLIC HEARINGS AND INTRODUCTIONS OF ORDINANCES
NOTE: Members of the public may be allotted up to two (2) minutes to comment on any public hearing item.

Applicants/Appellants and their representatives may be allotted up to a total of five (5) minutes for opening statements and up to a total of three (3) minutes maximum for closing statements. Items requested/recommended for continuance are subject to Council’s consent at the meeting.

Lighting and Landscaping District LLA-1, Fiscal Year 2026- 27 – Confirming Assessments (Resolution/Roll Call Vote)

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Recommended Action
That the City Council adopt a resolution overruling protests, if any, approving the Engineer’s Report, ordering the improvements, and confirming the diagram and assessments.

Public Hearing to consider adoption of an interim ordinance superseding prior interim ordinance implementing Senate Bill (SB) 450 (2024), as modified by Assembly Bill (AB) 1061 (2025), to revise historic resource eligibility provisions applicable to two-unit developments and urban lot splits, simplify subdivision regulations, and eliminate design
standards for certain Single-Family Residential Zoning
Districts (Ordinance/ 4/5 roll call vote).

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Recommended Action
It is recommended that the City Council adopt an interim ordinance superseding Interim Ordinance No. 2321 and revising regulations applicable to single-family residential development and urban lot splits.

Public Hearing to Consider Adoption of a Resolution revoking the Business License and Tobacco Retailer Permit for
California Cigar and More #3 located at 2145 South Winchester Blvd, Campbell. (Resolution/Roll Call Vote)

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Recommended Action
That the City Council adopt a Resolution revoking the Business License and Tobacco Retailer Permit for California Cigar and More #3, located at 2145 South Winchester Boulevard, Campbell, CA; and deny the appeal.

Public Hearing to Consider Adoption of a Resolution revoking the Business License and Tobacco Retailer Permit for Haze Downtown Smoke Shop, located at 469 East Campbell,
Campbell. (Resolution/Roll Call Vote)

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8. 8.1

8.2 8.3

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Recommended Action
That the City Council adopt a Resolution revoking the Tobacco Retailer Permit and Business License for Haze Downtown Smoke Shop, located at 469 East Campbell, CA; and deny the appeal.

Public Hearing to Consider Adoption of a Resolution revoking the Business License and Tobacco Retailer Permit for Haze Smoke Shop, located at 2050 South Bascom, Campbell
(Resolution/Roll Call Vote)

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Recommended Action
That the City Council adopt a Resolution revoking the Tobacco Retailer Permit and Business License for Haze Smoke Shop, located at 2050 South Bascom, Campbell and deny the appeal.

Public Hearing to Consider Adoption of a Resolution revoking the Business License for Sage Smoke Shop, located at 484 West Hamilton Avenue, Campbell (Resolution/Roll Call Vote)

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Recommended Action
That the City Council adopt a Resolution revoking the Business License for Sage Smoke Shop, located at 484 West Hamilton Avenue, Campbell.

Public Hearing to Consider Adoption of a Resolution revoking the Business License for Dreamy Exotics located at 835 Union Avenue, Campbell. (Resolution/Roll Call Vote)

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Recommended Action
That the City Council adopt a Resolution revoking the Business License for Dreamy Exotics located at 835 Union Avenue, Campbell.

NEW BUSINESS
Placing the Cost of Abating Hazardous Vegetation on the Property Tax Assessment Roll (Resolution/Roll Call Vote)

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Recommended Action
That the City Council adopt a resolution placing the cost of abating hazardous vegetation on the property tax assessment roll.

Authorization to Submit One Bay Area Grant (OBAG)
Application (Resolution/Roll Call Vote)

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Recommended Action

8.5 8.6

8.7 9.

9.1 9.2
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That the City Council adopt a resolution authorizing the Public Works Director to submit One Bay Area Grant Cycle 4 (OBAG 4) Program grant application for the Campbell Priority Development Area (PDA) Enhancements Phase 3 Project (PDA Enhancements Phase 3 Project).

Authorization of FY 2026-27 Measure O Tax Rate
(Resolution/Roll Call Vote)

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Recommended Action
That the City Council adopt a resolution authorizing an ad valorem tax levy based on a debt service estimate to be provided to Santa Clara County regarding general obligation bonds for Fiscal Year 2026-27.

Third Party Building Plan Check and Inspection – Approval & Award

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Recommended Action
That the City Council adopt a resolution approving Consultant Service Agreements with True North, West Coast Code Consultants, O‘Brien Code Consulting, Shums Coda Associates, Urban 37, and NV5 for Building Plan Check and Inspection services; with a not to exceed contract amount of $500,000 for each service agreement for a maximum contract term of three (3) years; and authorizing the City Manager to amend, negotiate, and execute a service contract with the six firms.

Resolution Approving the New Classification Specification for City Attorney (Resolution/Roll Call Vote)

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Recommended Action
Adopt a resolution approving the new classification specification of City Attorney.

UNFINISHED BUSINESS
COUNCIL COMMITTEE REPORTS
Council Committee Reports Page 489
Recommended Action
That the City Council report on activities from their committee assignments.

ADJOURN
IMPORTANT NOTICE: Materials related to an item on this agenda submitted to the City Council after distribution of the agenda packet are available for public inspection with the agenda packet in the lobby of City Clerk’s Office, 70 N. First Street, Campbell, CA 95008, during normal business hours. These materials will also be available on the City website at https://pub-campbell.escribemeetings.com with the

9.3 9.4

9.5 10.

11. 11.1

12. Tuesday, July 07, 2026 6 of 492
agenda packet following the last item of the agenda, subject to staff’s ability to post the documents prior to the meeting. All documents not posted prior to the meeting will be posted the next business day.

In compliance with the Americans with Disabilities Act, listening assistive devices are available for all meetings held in the City Council Chambers. If you require accommodation, please contact the City Clerk’s Office, (408) 866-2117, at least one week in advance of the meeting.

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City Council Report
DATE: July 7, 2026
TITLE: Proclamation Declaring July 2026 as Park and Recreation Month RECOMMENDED ACTION:

That the Mayor issue a proclamation declaring the month of July 2026 as National Park and Recreation Month for the City of Campbell.

BACKGROUND
Since 1995, the U.S. House of Representatives has designated the month of July as National Park and Recreation Month. In honor of that designation and in recognition of the importance of Parks and Recreation programs, staff requests that the Mayor proclaim July 2026 as Park and Recreation Month in the City of Campbell.

DISCUSSION
The City of Campbell Recreation and Community Services Department plays a vital role in enhancing the quality of life for residents and visitors by providing parks, facilities, programs, and services that support health, wellness, and community connection. Parks and recreation are essential public assets that contribute to the physical, emotional, environmental, and economic well-being of the Campbell community.

Campbell’s parks, open spaces, and recreation programs encourage active lifestyles, support mental and physical health, and provide opportunities for people of all ages to learn, grow, and connect. Youth programs, enrichment activities, community events, and services for older adults help foster lifelong learning, social engagement, and personal development.

Parks and recreation also strengthen community identity by bringing people together, celebrating diversity, and providing welcoming spaces for recreation and community gatherings. The Department strives to ensure equitable access to programs, facilities, and services so that all community members can benefit from these opportunities.

In addition, parks and recreation contribute to Campbell’s economic vitality, environmental sustainability, and community resilience. Parks preserve natural resources, enhance neighborhood quality, support local business, and provide adaptable public spaces that can serve the community during emergencies and times of need.

Item 3.1
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The City of Campbell remains committed to maintaining and enhancing its parks, facilities, programs, and services to ensure they continue to support a healthy, connected, and thriving community where parks and recreation make life better for all.

PREPARED BY: Natasha Bissell, Recreation and Community Services Director Item 3.1
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Report Approval Details
Document Title: Proclamation Declaring July 2026 as Park and Recreation Month.docx
Attachments: Proclamation - PRM 2026.docx
Final Approval
Date:

June 30, 2026
This document and all of its attachments were approved and signed as outlined below:

Natasha Bissell, Recreation & Community Services Director Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Angelique Gaeta, Assistant City Manager
Item 3.1
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PROCLAMATION
OF THE

MAYOR OF THE CITY OF CAMPBELL
WHEREAS, since 1985, the U.S. House of Representatives has designated the month of July as National Park and Recreation Month, recognizing the vital role that parks and recreation play in enhancing the quality of life in communities across the nation; and WHEREAS, the City of Campbell Recreation and Community Services Department provides parks, facilities, programs, and services that promote health, wellness, and community connection for residents of all ages; and
WHEREAS, Campbell’s parks, open spaces, and recreation programs encourage active lifestyles, support physical and mental well-being, and provide opportunities for lifelong learning, personal growth, and social engagement; and
WHEREAS, youth programs, enrichment activities, community events, and services for older adults help strengthen families, foster inclusion, and create meaningful connections among community members; and
WHEREAS, parks and recreation bring people together, celebrate diversity, and provide welcoming public spaces that strengthen community identity and enhance the quality of life for all residents; and
WHEREAS, parks and recreation contribute to Campbell’s economic vitality, environmental sustainability, and community resilience by preserving natural resources, supporting local businesses, enhancing neighborhoods, and providing adaptable public spaces during times of need; and
WHEREAS, the City of Campbell remains committed to maintaining and enhancing its parks, facilities, programs, and services to ensure they continue to serve as valuable community assets;
NOW THEREFORE, I, Daniel E. Furtado, Mayor of the City of Campbell, do hereby proclaim the month of July 2026, as Park and Recreation Month within the City of Campbell, calling upon all residents and civic organizations to acquaint themselves with the programs and services offered through the Recreation and Community Services Department, visit our local parks and recognize the contributions that the Recreation and Community Services employees make to our community every day.

WITNESS MY HAND AND SEAL OF THE CITY OF CAMPBELL this ___ day of July 2026.
____________________
Daniel E. Furtado, Mayor
City of Campbell, California
Item 3.1
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CITY COUNCIL MINUTES
City of Campbell, 70 N. First St., Campbell, California

EXECUTIVE SESSION MEETING OF THE CAMPBELL CITY COUNCIL
Tuesday, June 16, 2026 06:00 PM
Doetsch Conference Room
This City Council meeting was duly noticed pursuant to open meeting requirements of the Ralph M. Brown Act (G.C. Section 54956).

PRESENT:

Mayor Furtado
Vice Mayor Bybee
Councilmember Hines
Councilmember Scozzola
Councilmember Lopez
ABSENT:

1. CALL TO ORDER/ROLL CALL
The City Council of the City of Campbell convened this day in the special meeting place, the Doetsch Conference Room, 70 N. First Street, Campbell, California.

2. PUBLIC COMMENT
There was no public comment.

3. MOVE INTO CLOSED EXECUTIVE SESSION
A. Personnel - Pursuant to G.C. Section 54957: Public Employee Performance Evaluation – City Attorney
B. Litigation
C. Real Property
D. Labor Negotiations – Pursuant to G.C. Section 54957.6: Conference with Labor Negotiator - Agency Designated Representatives: City Council; and City Manager, Brian Loventhal
Item 7.1
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Employee Organizations: Campbell Municipal Employees Association (CMEA); Campbell Police Civilian Employees Association (CPCEA); Campbell Peace Officers' Association (CPOA); and North Coast States Regional Council of Carpenters and their Affiliated Local Unions (CARP)
The City Council met in Executive Session to discuss Items A and D on the agenda.

City Attorney Seligmann was in attendance for items A and D. City Manager Loventhal and Assistant City Manager Gaeta were in attendance for item D.

4. ADJOURN
Mayor Furtado adjourned the meeting at 6:50 p.m.

APPROVED: Daniel E. Furtado, Mayor
ATTEST: Andrea Sanders, City Clerk
Item 7.1
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CITY COUNCIL MINUTES
City of Campbell, 70 N. First St., Campbell, California

REGULAR MEETING OF THE CAMPBELL CITY COUNCIL
Tuesday, June 16, 2026 07:00 PM
City Hall Council Chamber
This City Council meeting was duly noticed pursuant to open meeting requirements of the Ralph M. Brown Act (G.C. Section 54956).

This meeting was recorded and can be viewed in its entirety at: https://pubcampbell.escribemeetings.com PRESENT:

Councilmember Hines
Councilmember Lopez
Mayor Furtado
Councilmember Scozzola
Vice Mayor Bybee
ABSENT:

1. CALL TO ORDER/ROLL CALL
The City Council of the City of Campbell convened this day in the regular meeting place, the City Hall Council Chamber, 70 N. First St., Campbell, California.

Roll call was taken and quorum was confirmed.

2. PLEDGE OF ALLEGIANCE
The Pledge of Allegiance was led by Mayor Furtado.

3. SPECIAL PRESENTATIONS AND PROCLAMATIONS
There were no special presentations or proclamations.

4. COMMUNICATIONS AND PETITIONS
There were no communications or petitions.

Item 7.2
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5. ORAL REQUESTS
Matt Ryan spoke regarding a Campbell Police Officer Association matter.

6. COUNCIL ANNOUNCEMENTS
The Campbell Museum is hosting an E-waste and Recycling Event this Saturday, June 20, in the Ainsley House Gravel lot from 9:00am to 1:00pm. For information on what you can recycle please visit the Campbell Museum’s website at www.campbellmuseums.com The Campbell Summer Concert Series is back with a full eight concert season! Come dance, or find a place to just relax, on the “Orchard City Green.” The event offers a variety of music and performers - from bands we enjoy every year to newcomers we are excited to welcome. Concerts are held weekly on Thursday nights, from 6:30pm – 8:00pm starting on July 9th. This is also a great time to support the Campbell Museum Foundation by purchasing food and drinks at the event. For more information visit www.campbellca.gov.

Summer Movie Nights return beginning Friday, July 10! Movie Night Series featuring family friendly films will take place at different park locations in Campbell – with the first movie, The Incredibles, showing at John D. Morgan Park at the Pony Baseball Diamond. All films will start at sunset or a little earlier (depending on light). Bring your lawn chairs, blankets and sweaters! Feel free to bring a picnic or snacks! Carpooling is recommended. For more information visit www.campbellca.gov.

7. CONSENT CALENDAR
Mayor Furtado asked if anyone wished to remove an item off the Consent Calendar. Item

7.7 was removed from Consent.

The Consent Calendar was considered as follows:

MOVER Bybee
SECONDER Hines
That the City Council approve the Consent Calendar, with the exception of Item 7.7.

RESULT: ADOPTED [UNANIMOUS] (5 to 0)

7.1 Minutes of City Council Executive Session Meeting of June 2, 2026.

MOVER Bybee
SECONDER Hines
Approve the executive session meeting minutes of June 2, 2026.

Item 7.2
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RESULT: ADOPTED [UNANIMOUS]
This action approves the executive session meeting minutes of June 2, 2026.

7.2 Minutes of City Council Regular Minutes of June 2, 2026.

MOVER Bybee
SECONDER Hines
Approve the regular meeting minutes of June 2, 2026.

RESULT: ADOPTED [UNANIMOUS]
This action approves the regular meeting minutes of June 2, 2026.

7.3 Approving Payment of Bills and Claims
MOVER Bybee
SECONDER Hines
Approve the bills and claims in the amount of $1,723,518.39.

RESULT: ADOPTED [UNANIMOUS]
This action approves the bills and claims in the amount of $1,723,518.39 as follows:
bills and claims checks dated May 18, 2026, in the amount of $$838,481.93; payroll checks dated May 21, 2026, in the amount of $41,079.84; and bills and claims checks dated May 25, 2026, in the amount of $843,956.62.

7.4 Resolution Approving the Second Amendment to the Contract with the County of Santa Clara to Provide a Senior Nutrition Program for Fiscal Year 2026-27 and Authorizing the City Manager to Execute the Second Amendment to the Contract (Resolution/Roll Call Vote)
MOVER Bybee
SECONDER Hines
That the City Council adopt a Resolution approving the Second Amendment to the Contract with the County of Santa Clara for the provision of congregate meal services and providing funding for Campbell's Senior Nutrition Program for Fiscal Year 2026-27 and authorizing the City Manager to execute the Second Amendment to the Contract.

RESULT: ADOPTED [UNANIMOUS]
Resolution 26-13393 approves the Second Amendment to the Contract with the County of Santa Clara for the provision of congregate meal services and provides Item 7.2
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funding for Campbell's Senior Nutrition Program for Fiscal Year 2026-27 and authorizes the City Manager to execute the Second Amendment to the Contract.

7.5 Agreement with Moonchef, LLC to Provide Catered Meals for the Senior Nutrition Program for Fiscal Year 2026-27 (Resolution/Roll Call Vote) MOVER Bybee
SECONDER Hines
That the City Council adopt a Resolution approving an agreement and authorizing the City Manager to execute the agreement with Moonchef, LLC to provide catered meals for the Senior Nutrition Program during Fiscal Year 2026-2027.

RESULT: ADOPTED [UNANIMOUS]
Resolution 26-13394 approves an agreement and authorizes the City Manager to execute the agreement with Moonchef, LLC to provide catered meals for the Senior Nutrition Program during Fiscal Year 2026-2027.

7.6 Authorization to Submit Transportation Fund for Clean Air (TFCA) Program Grant Application for Winchester Boulevard and San Tomas Aquino Road Bike Lanes Project (Resolution/Roll Call Vote) MOVER Bybee
SECONDER Hines
Adopt a resolution authorizing the Public Works Director to submit a Transportation Fund for Clean Air (TFCA) Program grant application to Santa Clara Valley Transportation Authority (VTA) for the Winchester Boulevard and San Tomas Aquino Road Bike Lanes Project.

RESULT: ADOPTED [UNANIMOUS]
Resolution 26-13395 authorizes the Public Works Director to submit a Transportation Fund for Clean Air (TFCA) Program grant application to Santa Clara Valley Transportation Authority (VTA) for the Winchester Boulevard and San Tomas Aquino Road Bike Lanes Project.

7.8 Excess Workers' Compensation Coverage Contract Extension (Resolution/Roll Call Vote)
MOVER Bybee
SECONDER Hines
That the City Council adopt a resolution approving a renewal of its current agreement with Midwest Employers' Casualty Company to provide excess worker's compensation liability coverage for Fiscal Years 2027 and 2028 for the estimated Item 7.2
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annual premium amount of $132,240 and authorizing the City Manager to execute any necessary documents or amendment related to the extension.

RESULT: ADOPTED [UNANIMOUS]
Resolution 26-13397 adopts a resolution approving a renewal of its current agreement with Midwest Employers' Casualty Company to provide excess worker's compensation liability coverage for Fiscal Years 2027 and 2028 for the estimated annual premium amount of $132,240 and authorizing the City Manager to execute any necessary documents or amendment related to the extension.

7.9 Accept Donation from Dale Scribner for a Bench Installation at the Campbell Community Center Running Track (Resolution/Roll Call Vote) MOVER Bybee
SECONDER Hines
That the City Council adopt a resolution: 1) accepting a $3,000 monetary donation from Mr. Dale Scribner for the installation of a bench at the Campbell Community Center Running Track; and 2) authorizing staff to execute a budget adjustment as necessary.

RESULT: ADOPTED [UNANIMOUS]
Resolution 26-13398 adopts a resolution: 1) accepts a $3,000 monetary donation from Mr. Dale Scribner for the installation of a bench at the Campbell Community Center Running Track; and 2) authorizes staff to execute a budget adjustment as necessary.

7.7 Consider the Adoption of a Resolution Dispensing with the Bidding Procedures Set Forth in Campbell Municipal Code Section 3.20.050, Approving a Consultant Service Agreement with Project Sentinel for Rent Dispute and Mediation Services, and Authorizing the City Manager to execute the Agreement (Resolution/Roll Call Vote)

ITEM CONSIDERED SEPARATE FROM CONSENT
Mayor Furtado asked for an update from Housing Manager, Murilo-Garcia, for a general update on Project Sentinel and how the process is working.

Housing Manager, Murilo-Garcia gave a general report on Project Sentinel.

Resolution 26-13396 adopts a resolution dispensing with the bidding procedures specified in Campbell Municipal Code (CMC) Section 3.20.050, approving a twoItem 7.2 Tuesday, July 07, 2026 18 of 492
year Consultant Services Agreement with Project Sentinel to administer the City’s Rent Dispute and Mediation Program through June 30, 2028 and authorizing the City Manager to execute the agreement.

MOVER Hines
SECONDER Bybee
That the City Council adopt a resolution dispensing with the bidding procedures specified in Campbell Municipal Code (CMC) Section 3.20.050, approving a twoyear Consultant Services Agreement with Project Sentinel to administer the City’s Rent Dispute and Mediation Program through June 30, 2028 and authorizing the City Manager to execute the agreement.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

8. PUBLIC HEARINGS AND INTRODUCTIONS OF ORDINANCES

8.1 Fiscal Year 2027 Budget and CIP Adoption (Resolution/Roll Call Vote) Now is the time and place for a public hearing to consider adopting the Fiscal Year (FY) 2027 City Operating and Capital budgets, for a combined total budget of $107,120,811; and adopt a Resolution adopting findings that the proposed FY 2027- 2031 Capital Improvement Plan (CIP) projects are categorically exempt under the California Environmental Quality Act (CEQA) and are consistent with the City’s General Plan; approving the five-year Capital Improvement Plan with projects totaling $75,220,892; directing staff to incorporate within the final adopted and published FY 2027 budget document any changes or adjustments pursuant to this public hearing; and adopt a Resolution establishing the Appropriations Limit for FY 2027 at $104,806,101 pursuant to Article XIIIB of the California State Constitution.

City Manager Loventhal presented a staff report dated June 16, 2026.

Following City Council questions, Mayor Furtado opened the public hearing and asked if anyone wished to speak.

Seeing no one wishing to speak, Mayor Furtado closed the public hearing.

Councilmember Hines spoke about CFD-1 and asked for a separate motion to have staff review the possibility of being able to remove budget line item 101-540-748.

Item 7.2
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Councilmember Scozzola voiced that he is not in support of this motion.

Mayor Furtado asked for a second to the motion.

Vice Mayor Bybee inquired with the City Attorney on what kind of flexibility the City has with making any changes to that agreement with the City of San Jose.

City Attorney Seligmann responded that the City of Campbell is contractually obligated to pay that tax to the City of San Jose.

Mayor Furtado asked again for a second to the motion. Seeing none, the motion failed.

The City Council expressed their gratitude toward staff for their work on the budget.

After discussion, the City Council motioned for approval of Item 8.1. The motion was adopted by roll call vote.

MOVER Hines
That the City Council have staff review elimination of 101-540-748, the payment of San Jose for no services.

RESULT: FAILED
MOVER Lopez
SECONDER Hines
That the City Council, by Resolution 26-13399, adopt the Fiscal Year (FY) 2027 City Operating and Capital budgets, including transfers, in the amounts of $93,229,659 and $13,891,152, for a combined total budget of $107,120,811; and adopt Resolution 26-13400 adopting findings that the proposed FY 2027-2031 Capital Improvement Plan (CIP) projects are categorically exempt under the California Environmental Quality Act (CEQA) and are consistent with the City’s General Plan; approving the five-year Capital Improvement Plan with projects totaling $75,220,892; including new capital projects of $4,202,000 and $7,145,804 as the amount necessary to meet the capital requirements of the City in FY 2027; directing staff to incorporate within the final adopted and published FY 2027 budget document any changes or adjustments pursuant to this public hearing and any other minor corrections prior to the budget’s final publication; and adopt Resolution 26- 13401 establishing the Appropriations Limit for FY 2027 at $104,806,101 pursuant to Article XIIIB of the California State Constitution.

Item 7.2
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AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

8.2 City Council Compensation 2026 (Ordinance/Roll Call Vote) Now is the time and place for a public hearing to consider adopting an ordinance adjusting Councilmember compensation, within the limits set forth by Government Code Section 36516.

City Manager Loventhal presented a staff report dated June 16, 2026.

Following City Council questions, Mayor Furtado opened the public hearing and asked if anyone wished to speak.

Seeing no one else wishing to speak, Mayor Furtado closed the public hearing.

After discussion, the City Council motioned for approval of Item 8.2. The motion was adopted by roll call vote.

Deputy City Clerk Epolite read the full title of the Ordinance 26-2353.

The City Council motioned to waive further reading of Ordinance 26-2353 and was approved by roll call vote.

MOVER Bybee
SECONDER Scozzola
That the City Council introduce Ordinance 26-2353 adjusting Councilmember compensation, within the limits set forth by Government Code Section 36516.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)
MOVER Furtado
SECONDER Bybee
That the City Council waive further reading of Ordinance 26-2353.

RESULT: ADOPTED [UNANIMOUS] (5 to 0)
Item 7.2
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8.3 Public Hearing to Consider Adoption of an Interim Ordinance to Extend Interim Ordinance No. 26-2350 Which Established Urgency Measures in Response to SB 79, the Abundant and Affordable Homes Near Transit Act of 2025 (File No. PLN-2025-50) (Ordinance / Roll Call Vote) Now is the time and place for a public hearing to consider adoption of an interim ordinance, extending interim ordinance No. 26-2350, which established urgency measures in response to Senate Bill 79, the Abundant and Affordable Homes Near Transit Act of 2025.

The Rule of Necessity was invoked and straws were drawn. Mayor Furtado recused himself from Item 8.3 stating a conflict of interest due to his residence being located within .5 mile of a transit stop. He passed the gavel to Vice Mayor Bybee and left the dais.

Senior Planner Rose presented a staff report dated June 16, 2026.

Following City Council questions, Vice Mayor Bybee opened the public hearing and asked if anyone wished to speak.

Seeing no one wishing to speak, Vice Mayor Bybee closed the public hearing.

After discussion, the City Council motioned for approval of Item 8.3. The motion was adopted by roll call vote.

Deputy City Clerk Epolite read the full title of Ordinance 26-2352.

The City Council motioned to waive further reading of Ordinance 26-2352 and was approved by roll call vote.

Following conclusion of the item, Mayor Furtado returned to the dais.

MOVER Lopez
SECONDER Hines
That the City Council adopt Interim Ordinance 26-2352, extending Interim Ordinance No. 26-2350, which established urgency measures in response to Senate Bill 79, the Abundant and Affordable Homes Near Transit Act of 2025.

AYES (4): Lopez, Scozzola, Bybee, and Hines
RECUSAL (1): Furtado
Item 7.2
Tuesday, July 07, 2026 22 of 492
RESULT: ADOPTED [UNANIMOUS] (4 to 0)
MOVER Lopez
SECONDER Hines
That the City Council waive further reading of Ordinance 26-2352.

RESULT: ADOPTED [UNANIMOUS] (4 to 0)

8.4 Request for City Council initiation of a General Plan Amendment to change the land use designation of property with an existing single family residence located at 480 Chapman Drive from “Neighborhood Commercial” to “Low Density Residential (Resolution/Roll Call Vote) Now is the time and place for a public hearing to consider adopting a resolution authorizing initiation of a General Plan Amendment and allowing a reduction in application fees to an amount of $6,000.

Senior Planner Fama presented a staff report dated June 16, 2026.

Following City Council questions, Mayor Furtado opened the public hearing and asked if anyone wished to speak.

The applicants gave a presentation and spoke about their project.

After discussion, the City Council motioned for approval of Item 8.4. The motion was adopted by roll call vote.

MOVER Lopez
SECONDER Bybee
That the City Council adopt resolution 26-13402 authorizing initiation of a General Plan Amendment and allowing a reduction in application fees to an amount of $6,000.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

9. NEW BUSINESS
Item 7.2
Tuesday, July 07, 2026 23 of 492

9.1 Calling General Municipal Election for Districts 3, 4 and 5; and requesting Consolidation of Election in Accordance with California Elections Code Section 10418 (Resolution/Roll Call Vote) City Manager Loventhal presented a staff report dated June 16, 2026.

Following City Council questions, Mayor Furtado asked if anyone from the public wished to speak.

There were no public speakers.

After discussion, the City Council motioned for approval of Item 9.1. The motion was adopted by roll call vote.

MOVER Bybee
SECONDER Hines
That the City Council adopt Resolution 26-13403 calling the General Municipal Election for November 3, 2026 to elect one Councilmember from District 3, one Councilmember from District 4, and one Councilmember from District 5; and requesting consolidation of election with the Registrar of Voters in accordance with California Elections Code Section 10418; resolving any tie votes by lot; and levying a fee to each candidate for their Candidate Statement.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

9.2 Approve and Award a Contract and Authorize the City Manager to Execute a Consultant Services Agreement with GUIDA for City Surveyor Services (Resolution/Roll Call Vote)
Public Works Director Olay presented a staff report dated June 16, 2026.

Following City Council questions, Mayor Furtado asked if anyone from the public wished to speak.

There were no public speakers.

After discussion, the City Council motioned for approval of Item 9.2. The motion was adopted by roll call vote.

Item 7.2
Tuesday, July 07, 2026 24 of 492
MOVER Hines
SECONDER Bybee
That the City Council adopt resolution 26-13404: 1) approving and awarding the contract for City Surveyor services to GUIDA in an amount not to exceed $250,000; 2) authorizing the City Manager to execute a consultant services agreement as specified in Campbell Municipal Code Section 3.20.100 for a period of two (2) years plus the option to include up to three (3) additional one (1) year extensions for a total of five (5) years.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

9.3 Approve and Award Consultant Service Agreement to BKF Engineers and Approve a Funding Agreement with VTA for the Hamilton Avenue/Highway 17 Southbound Off-ramp Widening Project 24-CC, and Authorize the City Manager to Execute Said Agreements (Resolution/Roll Call Vote)
Public Works Director Olay presented a staff report dated June 16, 2026.

Following City Council questions, Mayor Furtado asked if anyone from the public wished to speak.

There were no public speakers.

After discussion, the City Council motioned for approval of Item 9.3. The motion was adopted by roll call vote.

MOVER Lopez
SECONDER Scozzola
That the City Council adopt resolution 26-13405: 1) approving and awarding a consultant services agreement with BKF Engineers for the Hamilton Avenue/Highway 17 Southbound Off-ramp Widening Project 24-CC in the amount of $640,000 plus a 10% design contingency for an amount not to exceed $700,000; 2) approving a funding agreement with the Santa Clara Valley Transportation Authority (VTA) for the Hamilton Avenue/Highway 17 Southbound Off-ramp Widening Project 24-CC in the amount of $256,000; and 3) authorizing the City Manager to execute said agreements with BKF Engineers and with the Santa Clara Valley Transportation Authority (VTA) as specified in Campbell Municipal Code Section Item 7.2
Tuesday, July 07, 2026 25 of 492

3.20.100.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

9.4 Adoption of Technology Disruption Policy in Compliance with Senate Bill 707 (Resolution/Roll Call Vote)
Assistant City Manager Gaeta presented a staff report dated June 16, 2026.

Following City Council questions, Mayor Furtado asked if anyone from the public wished to speak.

There were no public speakers.

After discussion, the City Council motioned for approval of Item 9.4. The motion was adopted by roll call vote.

MOVER Hines
SECONDER Bybee
That the City Council adopt resolution 26-13406 (1) approving a Technology Disruption Policy to establish procedures for responding to disruptions of telephonic or internet services during City Council meetings, and (2) directing staff to engage in and identify “reasonable efforts” for outreach to encourage participation in City Council meetings, to ensure compliance with Senate Bill 707 and the Ralph M.

Brown Act.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

10. UNFINISHED BUSINESS

11. COUNCIL COMMITTEE REPORTS

11.1 Council Committee Reports
That the City Council report on activities from their committee assignments.

Item 7.2
Tuesday, July 07, 2026 26 of 492
Councilmember Hines attended a Los Gatos - El camino Hospital Leadership Team Event; League of California Cities Housing, Community and Development Committee; Downtown Campbell Business Association Car Show; Bay Area Rule 11-18 Webinar; Met with a PG&E Government Affairs Representative, Silicon Valley Clean Energy Board Meeting; Service Academy Appointees Review; Campbell Volunteer Appreciation Event; A Shoutout to Dough Zone in the Pruneyard.

Councilmember Lopez attended the Cities Association Summer Membership Event; Valley Transportation Authority Board of Directors Meeting; Dough Zone opening event and the Education Subcommittee Meeting.

Vice Mayor Bybee attended the Education Subcommittee Meeting; Cities Association General Meeting; and the Campbell Volunteer Appreciation Event.

Mayor Furtado attended the Campbell Volunteer Appreciation Event and the US Conference of Mayors Meeting.

12. ADJOURN
Mayor Lopez adjourned the meeting at p.m.

APPROVED: Daniel E. Furtado, Mayor
ATTEST: Andrea Sanders, City Clerk
Item 7.2
Tuesday, July 07, 2026 27 of 492
City Council Report
DATE: July 7, 2026
TITLE: Approving Payment of Bills and Claims
RECOMMENDED ACTION:

Approve the bills and claims in the amount of $3,439,308.69.

DISCUSSION
The bills and claims that have been audited and approved by staff for payments made are noted below:

Type Check Date Amount
Bills and Claims July 01, 2026 $1,576,227.39
Payroll July 04, 2026 $74,575.11
Bills and Claims July 08, 2026 $350,863.43
Bills and Claims July 15, 2026 $1,404,862.38
Payroll July 18, 2026 $32,780.38
Total $3,439,308.69

FISCAL IMPACT
Requested action does not require a budget adjustment. Adequate funding was available to cover all expenses as listed.

PREPARED BY: Celia Cruz Deniz, Accounting Clerk II
Item 7.3
Tuesday, July 07, 2026 28 of 492

Report Approval Details
Document Title: Report-Approving Bills and Claims 07.07.26.docx Attachments: Bills and Claims 06.01.pdf
Payroll 06.04.26.pdf
Bills and Claims 06.08.26.pdf
Bills and Claims 06.15.26.pdf
Payroll 06.18.26.pdf
Final Approval Date: June 30, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.3
Tuesday, July 07, 2026 29 of 492
City Council Report
DATE: July 7, 2026
TITLE: Monthly Investment Transactions Report- May 2026 RECOMMENDED ACTION:

That the City Council review and accept the Monthly Investment Transactions Report for May 2026.

BACKGROUND
As required by California Government Code (GC) Section 53607, staff will submit to the City Council Monthly Investment Transaction Reports within 45 days of the prior month end that show a listing of investments purchased, sold, called, or reached maturity, along with any Local Agency Investment Fund (LAIF) or California Asset Management Program (CAMP) transfers. This is in addition to the Quarterly Investment Report, which shows several other items listed under Section VII.A of the City’s Investment Policy and is also submitted to the City Council within 45 days from the end of the prior quarter.

DISCUSSION
As detailed in Attachment 1, staff deposited $1.4 million into the City’s primary Local Agency Investment Fund (LAIF) account and withdrew $1.0 million to support general operating expenditures and there were no withdrawals from the Measure O 2022 LAIF bond account. The monthly LAIF rate remained relatively steady at 3.810%.

Within the City’s California Asset Management Program (CAMP) pooled account, staff deposited $3.3 million and withdrew $2.1 million to manage operating expenses, while $49,000 in monthly dividends were posted. In the Measure K escrow account, $616,000— representing the May’s Measure K sales tax remittance from the California Department of Tax and Fee Administration (CDTFA)—was deposited, along with $20,000 in dividends earnings. The CAMP yield remained relatively steady at 3.76%. .

Within the City’s BNY Mellon custodial account managed by Chandler Asset Management, there were $1.2 million in purchases, one bond matured for $350,000 and $625,000 in bonds were sold. The portfolio earned $38,000 in interest, dividends, and net realized & other gains for the month, and the average market Yield to Maturity (YTM) was

4.18%.

Item 7.4
Tuesday, July 07, 2026 30 of 492

Chandler’s strategy remains focused on diversification and taking advantage and locking in favorable long‑term rates by purchasing new, high‑yielding bonds with longer maturities, while selling shorter‑term holdings that are set to mature sooner, ahead of potential rate declines. Consistent with the FY 2025–26 Investment Strategy approved by City Council on September 16, 2025, staff and investment advisors are monitoring moderately long-term opportunities outside of LAIF and CAMP to secure the highest possible returns while maintaining safety and compliance with the City’s Investment Policy. All investment purchases adhere strictly to this policy.

FISCAL IMPACT
There is no fiscal impact associated with the review and acceptance of the Monthly Investment Transactions Report.

PREPARED BY: John Formale, Accountant
Item 7.4
Tuesday, July 07, 2026 31 of 492

Report Approval Details
Document Title: Report Monthly Investment Transactions Report- May 2026.docx
Attachments: Monthly Investment tranx rpt- May'26-2.pdf Chandler BNY Investment Statement- 5.31.26.pdf
Final Approval
Date:

July 01, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.4
Tuesday, July 07, 2026 32 of 492

CITY OF CAMPBELL
Monthly Investment Transactions Report
May 1 to May 31, 2026
Account Trans. Date May'26
LAIF - ******133, Main account
Average Monthly Yield 3.810%
Beginning Balance $ 15,136,685
Transactions
Withdrawal 5/4/2026 (1,000,000)
Deposit 5/14/2026 1,400,000
Net change 400,000
Ending Balance $ 15,536,685
Account Trans. Date May'26
LAIF - ******031, MEAS O, Series 2020
Average Monthly Yield 3.810%
Beginning Balance $ -
Account Trans. Date May'26
LAIF - ******032, MEAS O, Series 2022
Average Monthly Yield 3.810%
Beginning Balance $ 3,998,524
Transactions
Net change -
Ending Balance $ 3,998,524
Account Trans. Date May'26
CAMP - ******001, Regular
Average Monthly Yield 3.76%
Beginning Balance $ 14,819,175
Transactions
Withdrawal 5/6/2026 (700,000)
Deposit 5/13/2026 2,100,000
Withdrawal 5/18/2026 (350,000)
Withdrawal 5/20/2026 (600,000)
Withdrawal 5/26/2026 (450,000)
Deposit 5/27/2026 1,200,000
May Dividends 5/31/2026 48,602
Net change 1,248,602
Ending Balance $ 16,067,776
Account Trans. Date May'26
CAMP - ******002, Meas K Sales Tax escrow
Average Monthly Yield 3.76%
Beginning Balance $ 6,176,869
Transactions
Deposit- May sales tax receipts 5/27/2025 615,892
May Dividends 5/31/2025 20,025
Net change 635,917
Ending Balance $ 6,812,786
Item 7.4
Tuesday, July 07, 2026 33 of 492

CITY OF CAMPBELL
Monthly Investment Transactions Report
May 1 to May 31, 2026
Bank of New York (BNY) - ******818
Average Monthly Yield/Market YTM 4.18%
Beginning Balance 21,265,988
Note: Purchases listed at par value, see Chandler Monthly Statement for add'l detail Transactions
Purchase - Corporate; Bank of America- 4.92%, 5 yrs 5/21/2026 300,000 Purchase - ABS; GMALT (General Motors Auto Lease Trust 2026-2)- 4.3%, 3 yrs 5/14/2026 70,000 Purchase - ABS; HAROT (Honda Auto Receivables 2026-2 Owner Trust)- 4.3%, 4.5 yrs 5/13/2026 160,000 Purchase - Corporate; Merck & Co Inc- 4.538%, 5 yrs 5/22/2026 85,000 Purchase - US Treasury- 3.9%, 1 yr 5/29/2026 300,000
Purchase - US Treasury- 3.991%, 2.5 yrs 5/29/2026 300,000 Maturity - CP/Commercial Paper; MUFG Bank (Mitsubishi UFJ Financial Group), Ltd., NY Branch- 3.79%, 5/26/2026 5/26/2026 (350,000) Sale - Corporate; Bank of America- 4.750%, 4/25/2029 5/20/2026 (150,000) Sale - Corporate; Bank of America 4.470%, 1/24/2029 5/20/2026 (150,000) Sale - Corporate; Bank of Montreal 4.4%, 1/27/2029 5/11/2026 (100,000) Sale - Corporate; Toronto Dominion Bank- 4.350%, 1/31/2028 5/7/2026 (225,000) Interest & dividends 5/31/2026 29,929
Realized Gain 5/31/2026 4,119
Other- Principle paydown, purchased/sold interest 5/31/2026 4,206 MM transfers 5/31/2026 (240,000)
Net change 38,254
Ending Balance- 5/31/26 21,304,242
Total of all Investments
Beginning $ 61,397,241
Ending $ 63,720,014
Item 7.4
Tuesday, July 07, 2026 34 of 492

MONTHLY ACCOUNT STATEMENT
City of Campbell | Account #11214 | As of May 31, 2026
CHANDLER ASSET MANAGEMENT | chandlerasset.com
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian:

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Performance Review
Account Summary
Maturity Distribution
Top Issuers
Credit Quality*
Total Rate of Return** 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS Since Inception (03/01/25)
City of Campbell 0.10% (0.52%) 0.58% 3.86% -- -- -- -- 4.08% Benchmark Return 0.03% (0.57%) 0.38% 3.41% -- -- -- -- 3.65% Average Modified Duration 2.51
Average Coupon 4.00%
Average Purchase YTM 4.16%
Average Market YTM 4.18%
Average Credit Quality* AA+
Average Final Maturity 2.98
Average Life 2.77
End Values as of
04/30/2026
End Values as of
05/31/2026
Market Value 21,313,392.49 21,309,286.42
Accrued Interest 149,853.72 176,085.68
Total Market Value 21,463,246.21 21,485,372.10
Income Earned 73,167.66 55,967.02
Cont/WD 0.00 0.00
Par 21,416,449.74 21,491,751.57
Book Value 21,294,616.05 21,347,011.70
Cost Value 21,265,959.13 21,322,754.83
United States 47.47%
Federal Home Loan Mortgage Corp 10.79%
Federal Home Loan Banks 2.33%
International Bank for Recon and Dev 2.22%
Toyota Motor Corporation 1.87%
American Express Credit Master Trust 1.74%
Bank of America Corporation 1.30%
BMW Vehicle Owner Trust 1.27%
**Periods over 1 year are annualized.

Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index *The average credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES
Max % (MV; Agencies & Agency CMOs) 75.0 2.3 Compliant
Max % Issuer (MV; Agencies & Agency CMOs) 30.0 10.8 Compliant Max Maturity (Years) 5.0 4.4 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180.0 0.0 Compliant

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE (CDARS)
Max % (MV) 30.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % (MV; FDIC & Collateralized CD/TD) 20.0 0.0 Compliant Max Issuer Amount (MV) 1.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 25.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270.0 0.0 Compliant
Min Rating(A-1 by 1 or A issuer by 1) 0.0 0.0 Compliant

CORPORATE MEDUIM TERM NOTES
Max % (MV) 30.0 25.9 Compliant
Max % Issuer (MV) 5.0 1.9 Compliant
Max Maturity (Years) 5.0 5.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE CD/
TD)
Max % (MV; FDIC & Collateralized CD/TD) 20.0 0.0 Compliant Max Maturity (Years) 5.0 0.0 Compliant

FEDERAL AGENCIES
Max % (MV; Agencies & Agency CMOs) 75.0 2.3 Compliant
Max % Issuer (MV; Agencies & Agency CMOs) 30.0 10.8 Compliant Max Callables (MV) 20.0 0.0 Compliant
Item 7.4
Tuesday, July 07, 2026 37 of 492
CONFIDENTIAL | 4
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years) 5.0 1.3 Compliant

JOINT POWERS AUTHORITY
Min Rating (AAA by 1) 0.0 0.0 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV; Money Market Fund & Mutual Fund) 20.0 0.5 Compliant Max % Issuer (MV) 20.0 0.5 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

MUNICIPAL SECURITIES
Max % (MV) 30.0 1.0 Compliant
Max % Issuer (MV) 5.0 1.0 Compliant
Max Maturity (Years) 5.0 3.2 Compliant
Min Rating (A by 1 or A-1 by S&P) 0.0 0.0 Compliant

MUTUAL FUNDS
Max % (MV; Money Market Fund & Mutual Fund) 20.0 0.5 Compliant Max % Issuer (MV) 10.0 0.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant

NON- AGENCY ASSET-BACKED SECURITIES (ABS)
Max % (MV; ABS, CMO & MBS) 20.0 9.7 Compliant
Max % Issuer (MV) 20.0 1.7 Compliant
Max Maturity (Years) 5.0 4.5 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

NON-AGENCY MORTGAGE-BACKED SECURITIES, CMOS
Max % (MV; ABS, CMO & MBS) 20.0 9.7 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Max % (MV) 10.0 0.0 Compliant
Max Maturity (Years) 1.0 0.0 Compliant
Min Rating (A by 1 or A-1 by 1) 0.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 2.2 Compliant
Max % Issuer (MV) 10.0 1.9 Compliant
Max Maturity (Years) 5.0 3.8 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

US TREASURIES
Max % (MV) 100.0 47.5 Compliant
Max Maturity (Years) 5.0 4.6 Compliant
Item 7.4
Tuesday, July 07, 2026 39 of 492
CONFIDENTIAL | 6
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

RECONCILIATION SUMMARY
Accrual Activity Summary
Fair Market Activity Summary
Month to Date Fiscal Year to Date
(07/01/2025)
Beginning Book Value 21,294,616.05 20,540,867.11
Maturities/Calls (350,000.00) (3,600,000.00)
Principal Paydowns (42,668.38) (280,049.70)
Purchases 1,974,254.98 12,075,577.43
Sales (1,555,161.63) (7,444,499.27)
Change in Cash, Payables, Receivables 18,542.04 18,593.75 Amortization/Accretion 3,310.09 27,078.45
Realized Gain (Loss) 4,118.56 9,443.93
Ending Book Value 21,347,011.70 21,347,011.70
Month to Date Fiscal Year to Date
(07/01/2025)
Beginning Market Value 21,313,392.49 20,681,866.80
Maturities/Calls (350,000.00) (3,600,000.00)
Principal Paydowns (42,668.38) (280,049.70)
Purchases 1,974,254.98 12,075,577.43
Sales (1,555,161.63) (7,444,499.27)
Change in Cash, Payables, Receivables 18,542.04 18,593.75 Amortization/Accretion 3,310.09 27,078.45
Change in Net Unrealized Gain (Loss) (56,501.73) (178,724.97) Realized Gain (Loss) 4,118.56 9,443.93
Ending Market Value 21,309,286.42 21,309,286.42
Maturities / Calls
Month to Date (350,000.00)
Fiscal Year to Date (3,600,000.00)
Principal Paydowns
Month to Date (42,668.38)
Fiscal Year to Date (280,049.70)
Purchases
Month to Date 1,974,254.98
Fiscal Year to Date 12,075,577.43
Sales
Month to Date (1,555,161.63)
Fiscal Year to Date (7,444,499.27)
Interest Received
Month to Date 29,929.46
Fiscal Year to Date 762,079.09
Purchased / Sold Interest
Month to Date (3,504.49)
Fiscal Year to Date (11,050.63)
Item 7.4
Tuesday, July 07, 2026 40 of 492
CONFIDENTIAL | 7
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
891940AC2 TAOT 2023-A A3 4.63
09/15/2027 20,554.81 11/14/20244.63%
20,562.83
20,556.37
100.11

3.98%
20,577.03

42.30 0.10%

20.66 NA/AAA
AAA

1.29 0.16
362962AD4 GMALT 2025-2 A3 4.58
05/22/2028 95,000.00 05/20/20254.84%
94,998.42
94,998.95
100.41

4.04%
95,385.80
132.95

0.45%
386.84
NA/AAA
AAA

1.98 0.70
379965AD8 GMALT 2025-3 A3 4.17
08/21/2028 90,000.00 08/05/20254.18%
89,986.32
89,989.94
100.02

4.19%
90,017.19
114.68

0.42%

27.25 NA/AAA
AAA

2.22 0.96
47800RAD5 JDOT 2024 A3 4.96 11/15/2028 139,850.58 02/20/2025

4.63%
140,691.87
140,303.94
100.54

3.96%
140,609.41
308.29

0.66%
305.46
Aaa/NA
AAA

2.46 0.52
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 269,940.98 --4.69%
272,745.84
271,524.38
100.64

4.07%
271,656.19
233.05

1.27%
131.80
Aaa/AAA
NA

2.74 0.55
36275AAD1 GMALT 2026-2 A3 4.3
03/20/2029 70,000.00 05/05/20264.40%
69,992.43
69,992.56
100.01

4.33%
70,005.32
142.14

0.33%

12.76 NA/AAA
AAA

2.80 1.65
89239TAD4 TAOT 2024-D A3 4.4 06/15/2029 60,000.00 10/10/2024

4.51%
59,996.65
59,997.82
100.21

4.14%
60,128.51
117.33

0.28%
130.69
Aaa/AAA
NA

3.04 0.71
02589BAE0 AMXCA 2024-3 A 4.65
07/15/2027 200,000.00 02/20/20254.57%
200,546.88
200,255.92
100.66

4.08%
201,315.10
413.33

0.94%
1,059.18
NA/AAA
AAA

1.12 1.07
34535VAD6 FORDO 2024-D A3 4.61
08/15/2029 120,000.00 11/19/20244.66%
119,996.15
119,997.39
100.48

4.11%
120,576.60
245.87

0.57%
579.21
Aaa/NA
AAA

3.21 0.87
38014AAD3 GMCAR 2024-4 A3 4.4
08/16/2029 59,391.80 10/08/20244.32%
59,380.35
59,384.20
100.21

4.09%
59,518.24
108.89

0.28%
134.04
Aaa/AAA
NA

3.21 0.60
47800DAD6 JDOT 2025 A3 4.23 09/17/2029 100,000.00 03/04/2025

5.09%
99,993.71
99,995.41
100.09

4.19%
100,092.80
188.00

0.47%

97.39 Aaa/NA
AAA

3.30 1.18
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029 110,000.00 10/17/20244.29%
109,983.65
109,988.91
100.27

4.12%
110,299.20
209.73

0.52%
310.29
Aaa/AAA
NA

3.38 1.31
89231HAD8 TAOT 2025-B A3 4.34
11/15/2029 65,000.00 04/24/20254.82%
64,996.28
64,997.17
100.23

4.19%
65,148.14
125.38

0.31%
150.97
NA/AAA
AAA

3.46 1.21
362955AD8 GMCAR 2025-1 A3 4.62
12/17/2029 80,000.00 01/09/20255.03%
79,994.06
79,995.72
100.46

4.10%
80,368.24
154.00

0.38%
372.52
Aaa/NA
AAA

3.55 0.81
58773DAD6 MBART 2025-1 A3 4.78
12/17/2029 115,000.00 01/14/20254.84%
114,975.54
114,982.29
100.63

4.16%
115,724.85
244.31

0.54%
742.55
Aaa/NA
AAA

3.55 0.94
44935XAD7 HART 2025-B A3 4.36
12/17/2029 80,000.00 06/03/20254.36%
79,992.78
79,994.33
100.19

4.24%
80,149.44
155.02

0.38%
155.11
NA/AAA
AAA

3.55 1.19
58770YAD3 MBALT 2026-A A3 3.93
01/15/2030 60,000.00 01/13/20263.97%
59,988.10
59,989.17

99.43 4.27%
59,660.47
104.80

0.28%
(328.71)
Aaa/NA
AAA

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
02582JKP4 AMXCA 2025-2 A 4.28
04/15/2030 170,000.00 05/06/20254.28%
169,996.92
169,997.58
100.16

4.23%
170,272.68
323.38

0.80%
275.10
NA/AAA
AAA

3.87 1.76
43814YAD3 HAROT 2026-2 A3 4.3
11/15/2030 160,000.00 05/05/20263.02%
159,995.38
159,995.43

99.97 4.35%
159,958.08
344.00

0.75%
(37.35)
Aaa/AAA
NA

4.46 2.16
Total ABS 2,064,738.16 4.46%
2,068,814.17
2,066,937.50
100.33

4.15%
2,071,463.26
3,707.44

9.72%
4,525.76

2.99 1.09
AGENCY
3130B7QM9 FEDERAL HOME LOAN BANKS 3.5
09/09/2027 500,000.00 09/23/20253.63%
498,795.00
499,216.33

99.45 3.95%
497,226.50
3,986.11

2.33%
(1,989.83)
Aa1/AA+
AA+

1.28 1.22
Total Agency 500,000.00 3.63%
498,795.00
499,216.33

99.45 3.95%
497,226.50
3,986.11

2.33%
(1,989.83)

1.28 1.22

AGENCY CMBS
3137FJEH8 FHMS K-081 A2 3.9 08/25/2028 250,000.00 11/21/2024

4.53%
244,335.94
246,662.25

99.07 4.26%
247,668.50
812.50

1.16%
1,006.25
Aa1/AA+
AAA

2.24 2.07
3137FJKE8 FHMS K-082 A2 3.92 09/25/2028 250,000.00 06/10/2025

4.27%
246,992.19
247,895.04

99.10 4.26%
247,737.63
816.67

1.16%
(157.42)
Aa1/AA+
AAA

2.32 2.10
3137FKSH0 FHMS K-086 A2 3.859
11/25/2028 150,000.00 09/18/20243.82%
150,005.86
150,003.45

98.90 4.26%
148,354.73
482.38

0.70%
(1,648.73)
Aaa/AA+
AA+

2.49 2.28
3137FLN91 FHMS K-091 A2 3.505
03/25/2029 300,000.00 11/14/20244.62%
287,074.22
291,697.07

97.86 4.29%
293,565.90
876.25

1.38%
1,868.83
Aa1/AAA
AA+

2.82 2.53
3137FMCR1 FHMS K-093 A2 2.982
05/25/2029 147,004.70 10/16/20244.15%
140,067.92
142,535.45

96.46 4.30%
141,805.44
365.31

0.67%
(730.01)
Aa1/AA+
AAA

2.98 2.61
3137FNAE0 FHMS K-095 A2 2.785
06/25/2029 250,000.00 03/13/20254.39%
234,707.03
239,087.83

95.68 4.32%
239,212.25
580.21

1.12%
124.42
Aa1/AA+
AAA

3.07 2.77
3137FPHK4 FHMS K-098 A2 2.425
08/25/2029 300,000.00 10/17/20244.26%
276,445.31
284,373.41

94.41 4.32%
283,244.25
606.25

1.33%
(1,129.16)
Aa1/AA+
AAA

3.24 2.96
3137FRUJ8 FHMS K-105 A2 1.872
01/25/2030 275,000.00 03/17/20254.43%
244,868.16
252,418.36

91.83 4.34%
252,523.98
429.00

1.19%
105.62
Aa1/AA+
AAA

3.65 3.39
3137F62M8 FHMS K-118 A2 1.493
09/25/2030 250,000.00 01/29/20264.03%
223,632.81
225,553.29

88.91 4.38%
222,263.55
311.04

1.04%
(3,289.74)
Aa1/AA+
AAA

4.32 4.01
3137F83Q4 FHMS K-121 A2 1.547
10/25/2030 250,000.00 01/08/20264.00%
223,603.52
225,734.25

88.76 4.38%
221,900.18
322.29

1.04%
(3,834.07)
Aa1/AA+
AAA

4.40 4.14
Total Agency CMBS 2,422,004.70 4.29%
2,271,732.96
2,305,960.39

95.05 4.31%
2,298,276.39
5,601.89

10.79%
(7,684.01)

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 18,971.54 -- 18,971.54
18,971.54

1.00 18,971.54

0.00 0.09%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 18,971.54
18,971.54
18,971.54

1.00 18,971.54

0.00 0.09%

0.00 0.00

0.00 CORPORATE
857477CP6 STATE STREET CORP 4.33
10/22/2027 175,000.00 11/07/20244.54%
173,976.25
174,517.56
100.24

4.15%
175,423.50
820.90

0.82%
905.94
Aa3/A
AA1.391.25
17275RBW1 CISCO SYSTEMS INC 4.55
02/24/2028 250,000.00 03/11/20254.32%
251,557.50
250,894.67
100.72

4.11%
251,794.00
3,064.93

1.18%
899.33
A1/AANA1.74

1.56 00287YDY2 ABBVIE INC 4.65 03/15/2028 125,000.00 02/18/2025

4.70%
124,833.75
124,902.46
100.68

4.25%
125,850.75
1,227.08

0.59%
948.29
A2/ANA1.79

1.61 79466LAQ7 SALESFORCE INC 4.5 03/15/2028 140,000.00 03/12/2026

4.37%
140,339.50
140,300.92
100.09

4.44%
140,125.00
1,365.00

0.66%
(175.92)
A2/A+
NA

1.79 1.61
06406RBG1 BANK OF NEW YORK MELLON
CORP 3.992 06/13/2028 225,000.00 09/05/20244.31%
223,128.00
224,301.24

99.79 4.49%
224,526.38
4,191.60

1.05%
225.13
Aa3/A
AA2.040.98
46647PDG8 JPMORGAN CHASE & CO 4.851
07/25/2028 150,000.00 08/12/20244.62%
150,933.00
150,363.32
100.50

4.96%
150,744.15
2,546.78

0.71%
380.83
A1/A
AA2.151.09
46647PEU6 JPMORGAN CHASE & CO 4.915
01/24/2029 115,000.00 01/16/20254.92%
115,000.00
115,000.00
100.75

4.44%
115,859.97
1,993.99

0.54%
859.97
A1/A
AA2.651.54
91159HJK7 US BANCORP 4.653 02/01/2029 200,000.00 09/05/2024

4.47%
201,116.00
200,547.68
100.30

4.61%
200,607.69
3,102.00

0.94%

60.01 A3/A
A+

2.67 1.56
756109CW2 REALTY INCOME CORP 3.95
02/01/2029 250,000.00 01/07/20264.01%
249,577.50
249,631.82

98.72 4.46%
246,793.35
3,291.67

1.16%
(2,838.47)
A3/ANA2.67

2.47 24422EXT1 JOHN DEERE CAPITAL CORP 4.85
06/11/2029 225,000.00 08/12/20244.40%
229,338.00
227,721.40
101.51

4.31%
228,396.15
5,153.13

1.07%
674.75
A1/A
A+

3.03 2.73
025816EJ4 AMERICAN EXPRESS CO 4.351
07/20/2029 170,000.00 07/21/20254.35%
170,000.00
170,000.00

99.69 4.49%
169,475.61
2,691.58

0.80%
(524.39)
A2/AA3.14

1.99 89236TMK8 TOYOTA MOTOR CREDIT CORP

4.55 08/09/2029 225,000.00 08/12/20244.49%
225,567.00
225,362.54
100.35

4.43%
225,797.63
3,185.00

1.06%
435.08
A1/A+
A+

3.19 2.90
532457CQ9 ELI LILLY AND CO 4.2 08/14/2029 235,000.00 08/12/2024

4.22%
234,769.70
234,852.44

99.86 4.25%
234,659.96
2,933.58

1.10%
(192.48)
Aa3/AANA3.21

2.93 26442CAY0 DUKE ENERGY CAROLINAS LLC

2.45 08/15/2029 250,000.00 12/18/20244.72%
226,517.50
233,824.70

94.14 4.43%
235,361.25
1,803.47

1.10%
1,536.55
Aa3/A
NA

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
61748UAK8 MORGAN STANLEY 4.133
10/18/2029 155,000.00 10/17/20254.25%
155,019.50
155,015.54

98.85 4.62%
153,222.57
765.18

0.72%
(1,792.97)
A1/AA+3.38

2.23 38141GD27 GOLDMAN SACHS GROUP INC

4.153 10/21/2029 105,000.00 10/14/20254.37%
105,000.00
105,000.00

98.80 4.64%
103,739.75
484.52

0.49%
(1,260.25)
A2/BBB+
A

3.39 2.24
14913UAU4 CATERPILLAR FINANCIAL
SERVICES CORP 4.7 11/15/2029 250,000.00 11/12/20244.74% 249,592.50
249,718.14
101.10

4.35%
252,741.25
522.22

1.19%
3,023.11
A1/A
A+

3.46 3.16
89236TNA9 TOYOTA MOTOR CREDIT CORP

4.95 01/09/2030 170,000.00 01/06/20255.00%
169,636.20
169,737.41
101.54

4.48%
172,619.36
3,319.25

0.81%
2,881.95
A1/A+
A+

3.61 3.21
63743HFX5

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.95 02/07/2030
250,000.00 02/20/2025

4.90%
250,550.00
250,406.40
101.39

4.54%
253,465.75
3,918.75

1.19%
3,059.35
A2/NA
A

3.69 3.22
571748CA8

MARSH & MCLENNAN
COMPANIES INC 4.65
03/15/2030
250,000.00 03/24/2025

4.67%
249,755.00
249,813.42
100.17

4.60%
250,426.75
2,454.17

1.18%
613.33
A3/AA3.79

3.34 931142FN8 WALMART INC 4.35 04/28/2030 185,000.00 04/23/2025

4.39%
184,679.95
184,749.88
100.45

4.22%
185,837.13
737.69

0.87%
1,087.24
Aa2/AA
AA

3.91 3.48
69371RT71 PACCAR FINANCIAL CORP 4.55
05/08/2030 230,000.00 05/05/20254.59%
229,643.50
229,719.45
100.80

4.32%
231,850.35
668.60

1.09%
2,130.90
A1/A+
NA

3.94 3.56
30303MAB8 META PLATFORMS INC 4.2
11/15/2030 250,000.00 11/13/20254.16%
250,482.50
250,429.76

98.72 4.52%
246,790.66
466.67

1.16%
(3,639.10)
Aa3/AANA4.46

4.01 74340XCQ2 PROLOGIS LP 4.75 01/15/2031 250,000.00 01/14/2026

4.22%
255,812.50
255,368.87
100.80

4.55%
252,011.25
4,486.11

1.18%
(3,357.62)
A2/A
NA

4.63 3.98
92826CAZ5 VISA INC 4.1 02/12/2031 140,000.00 02/03/2026

4.13%
139,812.40
139,823.60

99.41 4.24%
139,173.57
1,737.94

0.65%
(650.03)
Aa3/AANA4.70

4.18 02079KBK2 ALPHABET INC 4.1 02/15/2031 200,000.00 02/12/2026

4.10%
200,011.33
200,010.63

98.66 4.42%
197,311.74
2,460.00

0.93%
(2,698.89)
Aa2/AA+
NA

4.71 4.18
06051GJB6 BANK OF AMERICA CORP 2.592
04/29/2031 300,000.00 05/20/20265.02%
275,859.00
276,006.20

92.50 4.92%
277,500.60
691.20

1.30%
1,494.40
A1/AAA4.91

3.64 58933YCK9 MERCK & CO INC 4.65
05/22/2031 85,000.00 05/18/20264.66%
84,947.30
84,947.59
100.49

4.54%
85,414.12

98.81 0.40%
466.53
Aa3/A+
NA

4.97 4.33
Total Corporate 5,555,000.00 4.48%
5,517,455.38
5,522,967.64

99.56 4.46%
5,527,520.22
60,181.80

25.94%
4,552.58

3.33 2.78

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
X9USDDGCM BNY DREYFUS GVT CM INST 101,037.17 --

3.52%
101,037.17
101,037.17

1.00 3.52%
101,037.17

0.00 0.47%

0.00 Aaa/
AAAm
NA

0.00 0.00
Total Money
Market Fund 101,037.17 3.52%
101,037.17
101,037.17

1.00 3.52%
101,037.17

0.00 0.47%

0.00 0.00

0.00 MUNICIPAL
BONDS
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029 205,000.00 10/30/20244.38%
206,080.35
205,722.52
100.90

4.19%
206,835.78
3,075.00

0.97%
1,113.25
Aa2/AAAA3.17

2.88 Total Municipal
Bonds 205,000.00 4.38%
206,080.35
205,722.52
100.90

4.19%
206,835.78
3,075.00

0.97%
1,113.25

3.17 2.88

SUPRANATIONAL
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
350,000.00 12/13/2024

4.29%
343,689.50
345,591.59

99.28 4.10%
347,491.90
1,694.00

1.63%
1,900.31
Aaa/AAA
NA

3.38 3.12
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
125,000.00 03/14/2025

4.20%
124,553.75
124,660.79
100.02

4.12%
125,019.25
1,016.93

0.59%
358.46
Aaa/AAA
NA

3.80 3.46
Total
Supranational 475,000.00 4.27%
468,243.25
470,252.38

99.48 4.11%
472,511.15
2,710.93

2.22%
2,258.77

3.49 3.21

US TREASURY
91282CJC6 UNITED STATES TREASURY 4.625
10/15/2026 375,000.00 08/30/20243.90%
380,507.81
375,965.29
100.32

3.74%
376,181.64
2,227.20

1.77%
216.35
Aa1/AA+
AA+

0.38 0.37
91282CKE0 UNITED STATES TREASURY 4.25
03/15/2027 350,000.00 08/20/20243.86%
353,322.27
351,018.69
100.34

3.81%
351,174.76
3,152.85

1.65%
156.07
Aa1/AA+
AA+

0.79 0.76
91282CKV2 UNITED STATES TREASURY 4.625
06/15/2027 300,000.00 05/28/20263.90%
302,214.84
302,197.45
100.73

3.90%
302,181.60
6,403.85

1.42%
(15.85)
Aa1/AA+
AA+

1.04 0.99
91282CKZ3 UNITED STATES TREASURY 4.375
07/15/2027 375,000.00 08/08/20243.91%
379,804.69
376,836.56
100.49

3.92%
376,845.71
6,209.00

1.77%

9.15 Aa1/AA+
AA+

1.12 1.07
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 350,000.00 10/31/20244.17%
349,521.48
349,781.22
100.22

3.95%
350,779.30
2,445.70

1.65%
998.07
Aa1/AA+
AA+

1.33 1.28
91282CPS4 UNITED STATES TREASURY 3.375
12/31/2027 300,000.00 05/28/20264.01%
297,105.47
297,120.42

99.06 3.99%
297,187.50
4,251.38

1.39%

67.08 Aa1/AA+
AA+

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 375,000.00 08/08/20243.87%
376,552.73
375,762.62
100.01

3.99%
375,029.30
3,790.76

1.76%
(733.32)
Aa1/AA+
AA+

1.75 1.66
91282CHK0 UNITED STATES TREASURY 4.0
06/30/2028 350,000.00 08/20/20243.76%
353,007.81
351,622.38

99.97 4.01%
349,904.45
5,878.45

1.64%
(1,717.93)
Aa1/AA+
AA+

2.08 1.94
91282CNU1 UNITED STATES TREASURY 3.625
08/15/2028 250,000.00 01/29/20263.60%
250,156.25
250,135.71

99.17 4.02%
247,919.92
2,653.66

1.16%
(2,215.79)
Aa1/AA+
AA+

2.21 2.08
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 375,000.00 08/08/20243.85%
389,765.63
383,444.33
101.90

4.04%
382,133.63
1,589.67

1.79%
(1,310.71)
Aa1/AA+
AA+

2.42 2.25
91282CPP0 UNITED STATES TREASURY 3.5
12/15/2028 250,000.00 01/29/20263.62%
249,169.92
249,266.37

98.71 4.04%
246,767.58
4,038.46

1.16%
(2,498.79)
Aa1/AA+
AA+

2.54 2.36
91282CKD2 UNITED STATES TREASURY 4.25
02/28/2029 375,000.00 11/26/20244.21%
375,585.94
375,378.18
100.51

4.05%
376,918.95
4,027.68

1.77%
1,540.76
Aa1/AA+
AA+

2.75 2.54
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 350,000.00 11/18/20244.31%
347,498.05
348,376.01
100.18

4.05%
350,642.58
2,445.70

1.65%
2,266.57
Aa1/AA+
AA+

2.83 2.63
91282CKP5 UNITED STATES TREASURY 4.625
04/30/2029 375,000.00 08/08/20243.84%
387,583.01
382,761.35
101.54

4.06%
380,771.63
1,508.15

1.79%
(1,989.72)
Aa1/AA+
AA+

2.91 2.70
91282CEV9 UNITED STATES TREASURY 3.25
06/30/2029 350,000.00 11/18/20244.31%
334,591.80
339,706.52

97.67 4.06%
341,837.89
4,776.24

1.60%
2,131.37
Aa1/AA+
AA+

3.08 2.86
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 350,000.00 08/20/20243.70%
354,634.77
352,968.31

99.80 4.07%
349,302.73
4,679.56

1.64%
(3,665.57)
Aa1/AA+
AA+

3.17 2.91
91282CLK5 UNITED STATES TREASURY 3.625
08/31/2029 400,000.00 --3.60%
400,687.50
400,359.41

98.63 4.08%
394,531.25
3,664.40

1.85%
(5,828.16)
Aa1/AA+
AA+

3.25 3.00
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 400,000.00 --4.09%
389,617.18
392,901.15

98.21 4.08%
392,828.12
2,371.58

1.84%
(73.03)
Aa1/AA+
AA+

3.33 3.09
91282CLR0 UNITED STATES TREASURY 4.125
10/31/2029 400,000.00 --4.33%
396,388.68
397,483.16
100.12

4.09%
400,484.38
1,434.78

1.88%
3,001.22
Aa1/AA+
AA+

3.42 3.14
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 400,000.00 12/11/20244.09%
400,546.88
400,385.29
100.13

4.09%
400,500.00

45.08 1.88%
114.71
Aa1/AA+
AA+

3.50 3.23
91282CMD0 UNITED STATES TREASURY 4.375
12/31/2029 400,000.00 --4.45%
398,679.69
399,045.17
100.94

4.09%
403,765.62
7,348.07

1.89%
4,720.45
Aa1/AA+
AA+

3.59 3.23
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030 300,000.00 04/07/20253.75%
303,375.00
302,597.15

99.65 4.10%
298,957.03
2,032.79

1.40%
(3,640.12)
Aa1/AA+
AA+

3.83 3.49
91282CMZ1 UNITED STATES TREASURY 3.875
04/30/2030 500,000.00 09/16/20253.57%
506,425.78
505,446.29

99.18 4.10%
495,898.50
1,684.78

2.33%
(9,547.79)
Aa1/AA+
AA+

3.91 3.58
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 350,000.00 06/09/20254.08%
348,742.19
348,988.77

99.61 4.11%
348,632.90

38.25 1.64%
(355.87)
Aa1/AA+
AA+

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CNK3 UNITED STATES TREASURY 3.875
06/30/2030 325,000.00 07/29/20253.95%
323,933.59
324,115.28

99.11 4.11%
322,118.16
5,287.98

1.51%
(1,997.12)
Aa1/AA+
AA+

4.08 3.68
91282CNN7 UNITED STATES TREASURY 3.875
07/31/2030 225,000.00 08/26/20253.77%
226,081.05
225,914.00

99.09 4.11%
222,952.05
2,914.28

1.05%
(2,961.95)
Aa1/AA+
AA+

4.17 3.76
91282CNX5 UNITED STATES TREASURY 3.625
08/31/2030 500,000.00 09/16/20253.58%
500,937.50
500,804.31

98.08 4.12%
490,390.63
4,580.50

2.30%
(10,413.69)
Aa1/AA+
AA+

4.25 3.86
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030 150,000.00 12/09/20253.77%
148,154.30
148,330.13

97.44 4.13%
146,162.10

14.34 0.69%
(2,168.03)
Aa1/AA+
AA+

4.50 4.11
91282CPR6 UNITED STATES TREASURY 3.625
12/31/2030 350,000.00 01/29/20263.82%
347,033.20
347,234.73

97.90 4.13%
342,644.53
5,327.35

1.61%
(4,590.20)
Aa1/AA+
AA+

4.59 4.11
Total US Treasury 10,150,000.00 3.93%
10,171,625.01
10,155,946.23

99.67 4.04%
10,115,444.42
96,822.51

47.47%
(40,501.81)

2.84 2.61
Total Portfolio 21,491,751.57 4.16%
21,322,754.83
21,347,011.70

98.65 4.18%
21,309,286.42
176,085.68
100.00%
(37,725.28)

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 05/04/2026 X9USDDGCM 429.50 BNY DREYFUS GVT CM INST 1.000 3.51% (429.50) 0.00 (429.50) 0.00
Purchase 05/08/2026 X9USDDGCM 229,896.61 BNY DREYFUS GVT CM INST 1.000 3.51% (229,896.61) 0.00 (229,896.61) 0.00
Purchase 05/08/2026 X9USDDGCM 5,232.50 BNY DREYFUS GVT CM INST 1.000 3.51% (5,232.50) 0.00 (5,232.50) 0.00
Purchase 05/12/2026 X9USDDGCM 102,310.50 BNY DREYFUS GVT CM INST 1.000 3.49% (102,310.50) 0.00 (102,310.50) 0.00
Purchase 05/13/2026 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 99.997 3.02% (159,995.38) 0.00 (159,995.38) 0.00 Purchase 05/14/2026 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 99.989 4.40% (69,992.43) 0.00 (69,992.43) 0.00 Purchase 05/15/2026 X9USDDGCM 16,196.32 BNY DREYFUS GVT CM INST 1.000 3.49% (16,196.32) 0.00 (16,196.32) 0.00
Purchase 05/15/2026 X9USDDGCM 18,661.51 BNY DREYFUS GVT CM INST 1.000 3.49% (18,661.51) 0.00 (18,661.51) 0.00
Purchase 05/18/2026 X9USDDGCM 608.20 BNY DREYFUS GVT CM INST 1.000 3.49% (608.20) 0.00 (608.20) 0.00
Purchase 05/18/2026 X9USDDGCM 528.00 BNY DREYFUS GVT CM INST 1.000 3.49% (528.00) 0.00 (528.00) 0.00
Purchase 05/20/2026 X9USDDGCM 675.33 BNY DREYFUS GVT CM INST 1.000 3.48% (675.33) 0.00 (675.33) 0.00
Purchase 05/21/2026 06051GJB6 300,000.00

BANK OF AMERICA
CORP 2.592
04/29/2031

91.953 5.02% (275,859.00) (475.20) (276,334.20) 0.00
Purchase 05/21/2026 X9USDDGCM 29,335.61 BNY DREYFUS GVT CM INST 1.000 3.47% (29,335.61) 0.00 (29,335.61) 0.00
Purchase 05/22/2026 58933YCK9 85,000.00 MERCK & CO INC 4.65 05/22/2031 99.938 4.66% (84,947.30) 0.00 (84,947.30) 0.00 Purchase 05/26/2026 X9USDDGCM 364,156.73 BNY DREYFUS GVT CM INST 1.000 3.49% (364,156.73) 0.00 (364,156.73) 0.00
Purchase 05/26/2026 X9USDDGCM 16,109.75 BNY DREYFUS GVT CM INST 1.000 3.49% (16,109.75) 0.00 (16,109.75) 0.00
Item 7.4
Tuesday, July 07, 2026 48 of 492
CONFIDENTIAL | 15
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Purchase 05/29/2026 91282CPS4 300,000.00

UNITED STATES
TREASURY 3.375
12/31/2027

99.035 4.01% (297,105.47) (4,167.47) (301,272.94) 0.00
Purchase 05/29/2026 91282CKV2 300,000.00

UNITED STATES
TREASURY 4.625
06/15/2027
100.738 3.90% (302,214.84) (6,289.49) (308,504.33) 0.00 Total Purchase 1,999,140.56 (1,974,254.98) (10,932.16) (1,985,187.14) 0.00 TOTAL
ACQUISITIONS 1,999,140.56 (1,974,254.98) (10,932.16) (1,985,187.14) 0.00

DISPOSITIONS
Maturity 05/26/2026 62479MES8 (350,000.00)
MUFG Bank, Ltd.,
New York Branch
05/26/2026
100.000 3.99% 350,000.00 0.00 350,000.00 0.00
Total Maturity (350,000.00) 350,000.00 0.00 350,000.00 0.00 Sale 05/08/2026 89115A3E0 (225,000.00)

TORONTO-DOMINION
BANK 4.861
01/31/2028
100.853 4.86% 226,919.25 (2,977.36) 229,896.61 1,919.25 Sale 05/12/2026 06368MJG0 (100,000.00) BANK OF MONTREAL

5.004 01/27/2029 100.851 5.01% 100,851.00 (1,459.50) 102,310.50 851.00 Sale 05/13/2026 X9USDDGCM (159,995.38) BNY DREYFUS GVT CM INST 1.000 3.50% 159,995.38 0.00 159,995.38 0.00
Sale 05/14/2026 X9USDDGCM (69,992.43) BNY DREYFUS GVT CM INST 1.000 3.52% 69,992.43 0.00 69,992.43 0.00
Sale 05/21/2026 06051GMK2 (150,000.00)

BANK OF AMERICA
CORP 4.979
01/24/2029
100.649 4.98% 150,973.50 (2,427.26) 153,400.76 973.50
Sale 05/21/2026 06051GLG2 (150,000.00)

BANK OF AMERICA
CORP 5.202
04/25/2029
101.137 4.69% 151,705.50 (563.55) 152,269.05 374.82
Sale 05/22/2026 X9USDDGCM (84,947.30) BNY DREYFUS GVT CM INST 1.000 3.49% 84,947.30 0.00 84,947.30 0.00
Item 7.4
Tuesday, July 07, 2026 49 of 492
CONFIDENTIAL | 16
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Sale 05/29/2026 X9USDDGCM (530,934.23) BNY DREYFUS GVT CM INST 1.000 3.52% 530,934.23 0.00 530,934.23 0.00
Sale 05/29/2026 X9USDDGCM (78,843.04) BNY DREYFUS GVT CM INST 1.000 3.52% 78,843.04 0.00 78,843.04 0.00
Total Sale (1,549,712.38) 1,555,161.63 (7,427.67) 1,562,589.30 4,118.57 TOTAL
DISPOSITIONS (1,899,712.38) 1,905,161.63 (7,427.67) 1,912,589.30 4,118.57 OTHER

TRANSACTIONS
Coupon 05/01/2026 3137FLN91 0.00 FHMS K-091 A2 3.505
03/25/2029 4.62% 876.25 0.00 876.25 0.00
Coupon 05/01/2026 3137FJEH8 0.00 FHMS K-081 A2 3.9
08/25/2028 4.53% 812.50 0.00 812.50 0.00
Coupon 05/01/2026 3137FRUJ8 0.00 FHMS K-105 A2 1.872
01/25/2030 4.43% 429.00 0.00 429.00 0.00
Coupon 05/01/2026 3137FNAE0 0.00 FHMS K-095 A2 2.785
06/25/2029 4.39% 580.21 0.00 580.21 0.00
Coupon 05/01/2026 3137FJKE8 0.00 FHMS K-082 A2 3.92
09/25/2028 4.27% 816.67 0.00 816.67 0.00
Coupon 05/01/2026 3137FPHK4 0.00 FHMS K-098 A2 2.425
08/25/2029 4.26% 606.25 0.00 606.25 0.00
Coupon 05/01/2026 3137FMCR1 0.00 FHMS K-093 A2 2.982
05/25/2029 4.15% 365.76 0.00 365.76 0.00
Coupon 05/01/2026 3137F62M8 0.00 FHMS K-118 A2 1.493
09/25/2030 4.03% 311.04 0.00 311.04 0.00
Coupon 05/01/2026 3137F83Q4 0.00 FHMS K-121 A2 1.547
10/25/2030 4.00% 322.29 0.00 322.29 0.00
Coupon 05/01/2026 3137FKSH0 0.00 FHMS K-086 A2 3.859
11/25/2028 3.82% 482.37 0.00 482.37 0.00
Coupon 05/08/2026 69371RT71 0.00 PACCAR FINANCIAL
CORP 4.55 05/08/2030 4.59% 5,232.50 0.00 5,232.50 0.00
Item 7.4
Tuesday, July 07, 2026 50 of 492
CONFIDENTIAL | 17
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 05/15/2026 47800DAD6 0.00 JDOT 2025 A3 4.23
09/17/2029 5.09% 352.50 0.00 352.50 0.00
Coupon 05/15/2026 58773DAD6 0.00 MBART 2025-1 A3 4.78
12/17/2029 4.84% 458.08 0.00 458.08 0.00
Coupon 05/15/2026 89231HAD8 0.00 TAOT 2025-B A3 4.34
11/15/2029 4.82% 235.08 0.00 235.08 0.00
Coupon 05/15/2026 14913UAU4 0.00

CATERPILLAR

FINANCIAL SERVICES
CORP 4.7 11/15/2029

4.74% 5,875.00 0.00 5,875.00 0.00
Coupon 05/15/2026 34535VAD6 0.00 FORDO 2024-D A3 4.61
08/15/2029 4.66% 461.00 0.00 461.00 0.00
Coupon 05/15/2026 47800RAD5 0.00 JDOT 2024 A3 4.96
11/15/2028 4.63% 631.42 0.00 631.42 0.00
Coupon 05/15/2026 891940AC2 0.00 TAOT 2023-A A3 4.63
09/15/2027 4.63% 101.49 0.00 101.49 0.00
Coupon 05/15/2026 02589BAE0 0.00 AMXCA 2024-3 A 4.65
07/15/2027 4.57% 775.00 0.00 775.00 0.00
Coupon 05/15/2026 89239TAD4 0.00 TAOT 2024-D A3 4.4
06/15/2029 4.51% 220.00 0.00 220.00 0.00
Coupon 05/15/2026 44935XAD7 0.00 HART 2025-B A3 4.36
12/17/2029 4.36% 290.67 0.00 290.67 0.00
Coupon 05/15/2026 92970QAE5 0.00 WFCIT 2024-2 A 4.29
10/15/2029 4.29% 393.25 0.00 393.25 0.00
Coupon 05/15/2026 02582JKP4 0.00 AMXCA 2025-2 A 4.28
04/15/2030 4.28% 606.33 0.00 606.33 0.00
Coupon 05/15/2026 30303MAB8 0.00 META PLATFORMS INC

4.2 11/15/2030 4.16% 5,600.00 0.00 5,600.00 0.00
Coupon 05/15/2026 58770YAD3 0.00 MBALT 2026-A A3 3.93
01/15/2030 3.97% 196.50 0.00 196.50 0.00
Coupon 05/16/2026 362955AD8 0.00 GMCAR 2025-1 A3 4.62
12/17/2029 5.03% 308.00 0.00 308.00 0.00
Coupon 05/16/2026 38014AAD3 0.00 GMCAR 2024-4 A3 4.4
08/16/2029 4.32% 220.00 0.00 220.00 0.00
Item 7.4
Tuesday, July 07, 2026 51 of 492
CONFIDENTIAL | 18
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 05/20/2026 362962AD4 0.00 GMALT 2025-2 A3 4.58
05/22/2028 4.84% 362.58 0.00 362.58 0.00
Coupon 05/20/2026 379965AD8 0.00 GMALT 2025-3 A3 4.17
08/21/2028 4.18% 312.75 0.00 312.75 0.00
Coupon 05/25/2026 096919AD7 0.00 BMWOT 2024-A A3

5.18 02/26/2029 4.69% 1,265.47 0.00 1,265.47 0.00
Coupon 05/31/2026 91282CMA6 0.00

UNITED STATES
TREASURY 4.125
11/30/2029

4.09% 8,250.00 0.00 8,250.00 0.00
Coupon 05/31/2026 91282CNG2 0.00

UNITED STATES
TREASURY 4.0
05/31/2030

4.08% 7,000.00 0.00 7,000.00 0.00
Coupon 05/31/2026 91282CPN5 0.00

UNITED STATES
TREASURY 3.5
11/30/2030

3.77% 2,625.00 0.00 2,625.00 0.00
Total Coupon 0.00 47,374.96 0.00 47,374.96 0.00
Dividend 05/31/2026 X9USDDGCM 0.00 BNY DREYFUS GVT CM
INST 3.52% 1,096.54 0.00 1,096.54 0.00
Total Dividend 0.00 1,096.54 0.00 1,096.54 0.00
Principal Paydown 05/01/2026 3137FMCR1 181.40 FHMS K-093 A2 2.982 05/25/2029 4.15% 181.40 -- 181.40 (0.00)
Principal Paydown 05/15/2026 47800RAD5 12,913.08 JDOT 2024 A3 4.96 11/15/2028 4.63% 12,913.08 -- 12,913.08 (0.00)
Principal Paydown 05/15/2026 891940AC2 5,748.43 TAOT 2023-A A3 4.63 09/15/2027 4.63% 5,748.43 -- 5,748.43 (0.00)
Principal Paydown 05/16/2026 38014AAD3 608.20 GMCAR 2024-4 A3 4.4 08/16/2029 4.32% 608.20 -- 608.20 (0.00)
Principal Paydown 05/25/2026 096919AD7 23,217.27 BMWOT 2024-A A3

5.18 02/26/2029 4.69% 23,217.27 -- 23,217.27 0.00
Total Principal
Paydown 42,668.38 42,668.38 -- 42,668.38 (0.01)

TOTAL OTHER
TRANSACTIONS 42,668.38 91,139.88 0.00 91,139.88 (0.01)
Item 7.4
Tuesday, July 07, 2026 52 of 492
CONFIDENTIAL | 19
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH & EQUIVALENTS
CCYUSD Receivable
18,971.54
429.50

0.00 0.00
18,971.54

0.00 0.00

0.00 X9USDDGCM BNY DREYFUS GVT CM INST
101,037.17
241,608.99
784,140.56
(924,712.38)
101,037.17

0.00 429.50

0.00 0.00

0.00 429.50
429.50
Total Cash & Equivalents 120,008.71
242,038.49
784,140.56
(924,712.38)
120,008.71

0.00 429.50

0.00 0.00

0.00 429.50 429.50

FIXED INCOME
00287YDY2 ABBVIE INC 4.65 03/15/2028
02/18/2025
02/26/2025
125,000.00
124,897.83

0.00 0.00
124,902.46
742.71

0.00 1,227.08
484.38

4.63 0.00

4.63 489.01
489.01
02079KBK2 ALPHABET INC 4.1
02/15/2031
02/12/2026
02/17/2026
200,000.00
200,010.84

0.00 0.00
200,010.63
1,776.67

0.00 2,460.00
683.33

0.69 (0.90)
(0.21)
683.13
683.13
025816EJ4 AMERICAN EXPRESS CO 4.351
07/20/2029
07/21/2025
07/25/2025
170,000.00
170,000.00

0.00 0.00
170,000.00
2,075.19

0.00 2,691.58
616.39

0.00 0.00

0.00 616.39
616.39
02582JKP4 AMXCA 2025-2 A 4.28
04/15/2030
05/06/2025
05/13/2025
170,000.00
169,997.52

0.00 0.00
169,997.58
323.38
606.33
323.38
606.33

0.05 0.00

0.05 606.38
606.38
02589BAE0 AMXCA 2024-3 A 4.65
07/15/2027
02/20/2025
02/21/2025
200,000.00
200,275.32

0.00 0.00
200,255.92
413.33
775.00
413.33
775.00

2.592 04/29/2031
05/20/2026
05/21/2026
300,000.00

0.00 275,859.00

0.00 276,006.20

0.00 (475.20)
691.20
216.00
147.20

0.00 147.20
363.20
363.20
06051GLG2 BANK OF AMERICA CORP

5.202 04/25/2029
08/12/2024
08/13/2024

0.00 151,368.43

0.00 (151,330.68)

0.00 130.05
563.55

0.00 433.50

0.00 (37.75)
(37.75)
395.75
395.75
06051GMK2 BANK OF AMERICA CORP

4.979 01/24/2029
01/17/2025
01/24/2025

0.00 150,000.00

0.00 (150,000.00)

0.00 2,012.35
2,427.26

0.00 414.91

0.00 0.00

0.00 414.91
414.91
06368MJG0 BANK OF MONTREAL 5.004
01/27/2029
01/22/2025
01/27/2025

0.00 100,000.00

0.00 (100,000.00)

0.00 1,306.60
1,459.50

0.00 152.90

0.00 0.00

0.00 152.90
152.90
06406RBG1 BANK OF NEW YORK MELLON
CORP 3.992 06/13/2028
09/05/2024
09/06/2024
225,000.00
224,243.79

0.00 0.00
224,301.24
3,443.10

0.00 4,191.60
748.50

57.46 0.00

57.46 805.96
805.96
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 269,940.98
294,958.24

0.00 (23,217.27)
271,524.38
253.09
1,265.47
233.05
1,245.43

0.00 (216.59)
(216.59)
1,028.84
1,028.84
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029
10/30/2024
11/05/2024
205,000.00
205,741.88

0.00 0.00
205,722.52
2,306.25

0.00 3,075.00
768.75

0.00 (19.36)
(19.36)
749.39
749.39
14913UAU4

CATERPILLAR FINANCIAL
SERVICES CORP 4.7
11/15/2029
11/12/2024
11/15/2024
250,000.00
249,711.22

0.00 0.00
249,718.14
5,418.06
5,875.00
522.22
979.17

6.92 0.00

6.92 986.08
986.08
17275RBW1 CISCO SYSTEMS INC 4.55
02/24/2028
03/11/2025
03/12/2025
250,000.00
250,940.74

0.00 0.00
250,894.67
2,117.01

0.00 3,064.93
947.92

4.85 06/11/2029
08/12/2024
08/13/2024
225,000.00
227,797.68

0.00 0.00
227,721.40
4,243.75

0.00 5,153.13
909.38

0.00 (76.28)
(76.28)
833.10
833.10
26442CAY0 DUKE ENERGY CAROLINAS
LLC 2.45 08/15/2029
12/18/2024
12/19/2024
250,000.00
233,396.49

0.00 0.00
233,824.70
1,293.06

0.00 1,803.47
510.42
428.21

0.00 428.21
938.63
938.63
30303MAB8 META PLATFORMS INC 4.2
11/15/2030
11/13/2025
11/17/2025
250,000.00
250,438.10

0.00 0.00
250,429.76
5,191.67
5,600.00
466.67
875.00

0.00 (8.34)
(8.34)
866.66
866.66
3130B7QM9 FEDERAL HOME LOAN BANKS

3.5 09/09/2027
09/23/2025
09/24/2025
500,000.00
499,164.08

0.00 0.00
499,216.33
2,527.78

0.00 3,986.11
1,458.33

52.24 0.00

52.24 1,510.58
1,510.58
3137F62M8 FHMS K-118 A2 1.493
09/25/2030
01/29/2026
01/30/2026
250,000.00
225,065.30

0.00 0.00
225,553.29
311.04
311.04
311.04
311.04
487.99

0.00 487.99
799.03
799.03
3137F83Q4 FHMS K-121 A2 1.547
10/25/2030
01/08/2026
01/13/2026
250,000.00
225,259.05

0.00 0.00
225,734.25
322.29
322.29
322.29
322.29
475.20

0.00 475.20
797.49
797.49
3137FJEH8 FHMS K-081 A2 3.9
08/25/2028
11/21/2024
11/26/2024
250,000.00
246,531.61

0.00 0.00
246,662.25
812.50
812.50
812.50
812.50
130.64

0.00 130.64
943.14
943.14
3137FJKE8 FHMS K-082 A2 3.92
09/25/2028
06/10/2025
06/13/2025
250,000.00
247,815.76

0.00 0.00
247,895.04
816.67
816.67
816.67
816.67

79.29 0.00

79.29 895.96
895.96
3137FKSH0 FHMS K-086 A2 3.859
11/25/2028
09/18/2024
09/23/2024
150,000.00
150,003.57

0.00 0.00
150,003.45
482.38
482.37
482.38
482.37

0.00 0.00
291,697.07
876.25
876.25
876.25
876.25
256.37

0.00 256.37
1,132.62
1,132.62
3137FMCR1 FHMS K-093 A2 2.982
05/25/2029
10/16/2024
10/21/2024
147,004.70
142,581.09

0.00 (181.40)
142,535.45
365.76
365.76
365.31
365.31
135.77

0.00 135.77
501.08
501.08
3137FNAE0 FHMS K-095 A2 2.785
06/25/2029
03/13/2025
03/18/2025
250,000.00
238,779.18

0.00 0.00
239,087.83
580.21
580.21
580.21
580.21
308.65

0.00 308.65
888.86
888.86
3137FPHK4 FHMS K-098 A2 2.425
08/25/2029
10/17/2024
10/22/2024
300,000.00
283,954.72

0.00 0.00
284,373.41
606.25
606.25
606.25
606.25
418.69

0.00 418.69
1,024.94
1,024.94
3137FRUJ8 FHMS K-105 A2 1.872
01/25/2030
03/17/2025
03/20/2025
275,000.00
251,883.98

0.00 0.00
252,418.36
429.00
429.00
429.00
429.00
534.37

0.00 534.37
963.37
963.37
34535VAD6 FORDO 2024-D A3 4.61
08/15/2029
11/19/2024
11/22/2024
120,000.00
119,997.32

0.00 0.00
119,997.39
245.87
461.00
245.87
461.00

0.07 0.00

0.07 461.07
461.07
36275AAD1 GMALT 2026-2 A3 4.3
03/20/2029
05/05/2026
05/14/2026
70,000.00

0.00 69,992.43

0.00 69,992.56

0.00 0.00
142.14
142.14

0.13 0.00

0.13 142.27
142.27
362955AD8 GMCAR 2025-1 A3 4.62
12/17/2029
01/09/2025
01/15/2025
80,000.00
79,995.62

0.00 0.00
79,995.72
154.00
308.00
154.00
308.00

0.10 0.00

0.10 308.10
308.10
362962AD4 GMALT 2025-2 A3 4.58
05/22/2028
05/20/2025
05/29/2025
95,000.00
94,998.91

0.00 0.00
94,998.95
132.95
362.58
132.95
362.58

0.05 0.00

0.00 0.00
89,989.94
114.68
312.75
114.68
312.75

0.38 0.00

0.38 313.13
313.13
38014AAD3 GMCAR 2024-4 A3 4.4
08/16/2029
10/08/2024
10/16/2024
59,391.80
59,992.12

0.00 (608.20)
59,384.20
110.00
220.00
108.89
218.89

0.28 0.00

0.28 219.17
219.17
38141GD27 GOLDMAN SACHS GROUP
INC 4.153 10/21/2029
10/14/2025
10/21/2025
105,000.00
105,000.00

0.00 0.00
105,000.00
121.13

0.00 484.52
363.39

0.00 0.00

0.00 363.39
363.39
43814YAD3 HAROT 2026-2 A3 4.3
11/15/2030
05/05/2026
05/13/2026
160,000.00

0.00 159,995.38

0.00 159,995.43

0.00 0.00
344.00
344.00

0.05 0.00

0.05 344.05
344.05
44935XAD7 HART 2025-B A3 4.36
12/17/2029
06/03/2025
06/11/2025
80,000.00
79,994.20

0.00 0.00
79,994.33
155.02
290.67
155.02
290.67

0.14 0.00

0.14 290.81
290.81
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
12/13/2024
12/16/2024
350,000.00
345,480.75

0.00 0.00
345,591.59
563.50

0.00 1,694.00
1,130.50
110.84

0.00 110.84
1,241.34
1,241.34
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
03/14/2025
03/20/2025
125,000.00
124,653.22

0.00 0.00
124,660.79
587.24

0.00 1,016.93
429.69

7.58 0.00

7.58 437.26
437.26
46647PDG8 JPMORGAN CHASE & CO

4.851 07/25/2028
08/12/2024
08/13/2024
150,000.00
150,390.20

0.00 0.00
150,363.32
1,940.40

0.00 2,546.78
606.38

0.00 (26.88)
(26.88)
579.49
579.49
46647PEU6 JPMORGAN CHASE & CO

4.915 01/24/2029
01/16/2025
01/24/2025
115,000.00
115,000.00

0.00 0.00
115,000.00
1,522.97

0.00 1,993.99
471.02

0.00 0.00

0.00 0.00
99,995.41
188.00
352.50
188.00
352.50

0.12 0.00

0.12 352.62
352.62
47800RAD5 JDOT 2024 A3 4.96
11/15/2028
02/20/2025
02/21/2025
139,850.58
153,286.21

0.00 (12,913.08)
140,303.94
336.76
631.42
308.29
602.95

0.00 (69.18)
(69.18)
533.78
533.78
532457CQ9 ELI LILLY AND CO 4.2
08/14/2029
08/12/2024
08/14/2024
235,000.00
234,848.53

0.00 0.00
234,852.44
2,111.08

0.00 2,933.58
822.50

3.91 0.00

3.91 826.41
826.41
571748CA8

MARSH & MCLENNAN
COMPANIES INC 4.65
03/15/2030
03/24/2025
03/25/2025
250,000.00
249,809.23

0.00 0.00
249,813.42
1,485.42

0.00 2,454.17
968.75

4.18 0.00

4.18 972.93
972.93
58770YAD3 MBALT 2026-A A3 3.93
01/15/2030
01/13/2026
01/21/2026
60,000.00
59,988.92

0.00 0.00
59,989.17
104.80
196.50
104.80
196.50

0.25 0.00

0.25 196.75
196.75
58773DAD6 MBART 2025-1 A3 4.78
12/17/2029
01/14/2025
01/23/2025
115,000.00
114,981.87

0.00 0.00
114,982.29
244.31
458.08
244.31
458.08

0.42 0.00

0.42 458.50
458.50
58933YCK9 MERCK & CO INC 4.65
05/22/2031
05/18/2026
05/22/2026
85,000.00

0.00 84,947.30

0.00 84,947.59

0.00 0.00

98.81 98.81

0.29 0.00

0.29 99.10

99.10 61748UAK8 MORGAN STANLEY 4.133
10/18/2029
10/17/2025
10/22/2025
155,000.00
155,016.09

0.00 0.00
155,015.54
231.33

0.00 765.18
533.85

0.00 (0.55)
(0.55)
533.29
533.29
62479MES8 MUFG Bank, Ltd., New York
Branch 05/26/2026
09/23/2025
09/23/2025

0.00 349,056.94

0.00 (350,000.00)

0.00 0.00

0.00 943.06

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.95 02/07/2030
02/20/2025
02/21/2025
250,000.00
250,415.97

0.00 0.00
250,406.40
2,887.50

0.00 3,918.75
1,031.25

0.00 (9.57)
(9.57)
1,021.68
1,021.68
69371RT71 PACCAR FINANCIAL CORP

4.55 05/08/2030
05/05/2025
05/08/2025
230,000.00
229,713.39

0.00 0.00
229,719.45
5,029.01
5,232.50
668.60
872.08

6.05 0.00

6.05 878.14
878.14
74340XCQ2 PROLOGIS LP 4.75
01/15/2031
01/14/2026
01/15/2026
250,000.00
255,469.25

0.00 0.00
255,368.87
3,496.53

0.00 4,486.11
989.58

0.00 (100.38)
(100.38)
889.20
889.20
756109CW2 REALTY INCOME CORP 3.95
02/01/2029
01/07/2026
01/08/2026
250,000.00
249,620.13

0.00 0.00
249,631.82
2,468.75

0.00 3,291.67
822.92

11.69 0.00

11.69 834.61
834.61
79466LAQ7 SALESFORCE INC 4.5
03/15/2028
03/12/2026
03/13/2026
140,000.00
140,315.87

0.00 0.00
140,300.92
840.00

0.00 1,365.00
525.00

0.00 (14.95)
(14.95)
510.05
510.05
857477CP6 STATE STREET CORP 4.33
10/22/2027
11/07/2024
11/08/2024
175,000.00
174,488.13

0.00 0.00
174,517.56
189.44

0.00 820.90
631.46

29.44 0.00

29.44 660.90
660.90
89115A3E0 TORONTO-DOMINION BANK

4.861 01/31/2028
01/28/2025
01/31/2025

0.00 225,000.00

0.00 (225,000.00)

0.00 2,764.69
2,977.36

0.00 212.67

0.00 0.00

0.00 212.67
212.67
891940AC2 TAOT 2023-A A3 4.63
09/15/2027
11/14/2024
11/15/2024
20,554.81
26,305.69

0.00 (5,748.43)
20,556.37

54.13 101.49

42.30 89.66

0.00 (0.89)
(0.89)

88.77 88.77
89231HAD8 TAOT 2025-B A3 4.34
11/15/2029
04/24/2025
04/30/2025
65,000.00
64,997.10

0.00 0.00
64,997.17
125.38
235.08
125.38
235.08

0.07 0.00

0.00 0.00
225,362.54
2,331.88

0.00 3,185.00
853.13

0.00 (9.65)
(9.65)
843.48
843.48
89236TNA9 TOYOTA MOTOR CREDIT
CORP 4.95 01/09/2030
01/06/2025
01/09/2025
170,000.00
169,731.23

0.00 0.00
169,737.41
2,618.00

0.00 3,319.25
701.25

6.18 0.00

6.18 707.43
707.43
89239TAD4 TAOT 2024-D A3 4.4
06/15/2029
10/10/2024
10/17/2024
60,000.00
59,997.75

0.00 0.00
59,997.82
117.33
220.00
117.33
220.00

0.06 0.00

0.06 220.06
220.06
91159HJK7 US BANCORP 4.653
02/01/2029
09/05/2024
09/06/2024
200,000.00
200,575.51

0.00 0.00
200,547.68
2,326.50

0.00 3,102.00
775.50

0.00 (27.83)
(27.83)
747.67
747.67
91282CEV9 UNITED STATES TREASURY

3.25 06/30/2029
11/18/2024
11/19/2024
350,000.00
339,422.87

0.00 0.00
339,706.52
3,802.14

0.00 4,776.24
974.10
283.64

0.00 283.64
1,257.74
1,257.74
91282CFM8 UNITED STATES TREASURY

4.125 09/30/2027
10/31/2024
11/01/2024
350,000.00
349,767.27

0.00 0.00
349,781.22
1,222.85

0.00 2,445.70
1,222.85

13.96 0.00

13.96 1,236.80
1,236.80
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028
08/08/2024
08/09/2024
375,000.00
375,799.67

0.00 0.00
375,762.62
2,527.17

0.00 3,790.76
1,263.59

0.00 (37.06)
(37.06)
1,226.53
1,226.53
91282CHK0 UNITED STATES TREASURY 4.0
06/30/2028
08/20/2024
08/21/2024
350,000.00
351,688.56

0.00 0.00
351,622.38
4,679.56

0.00 5,878.45
1,198.90

0.00 (66.18)
(66.18)
1,132.72
1,132.72
91282CJC6 UNITED STATES TREASURY

4.625 10/15/2026
08/30/2024
08/30/2024
375,000.00
376,185.31

0.00 0.00
375,965.29
758.20

0.00 2,227.20
1,469.01

4.875 10/31/2028
08/08/2024
08/09/2024
375,000.00
383,740.79

0.00 0.00
383,444.33

49.68 0.00
1,589.67
1,540.00

0.00 (296.46)
(296.46)
1,243.54
1,243.54
91282CKD2 UNITED STATES TREASURY

4.25 02/28/2029
11/26/2024
11/27/2024
375,000.00
375,389.87

0.00 0.00
375,378.18
2,685.12

0.00 4,027.68
1,342.56

0.00 (11.69)
(11.69)
1,330.87
1,330.87
91282CKE0 UNITED STATES TREASURY

4.25 03/15/2027
08/20/2024
08/21/2024
350,000.00
351,128.72

0.00 0.00
351,018.69
1,899.80

0.00 3,152.85
1,253.06

0.00 (110.03)
(110.03)
1,143.02
1,143.02
91282CKG5 UNITED STATES TREASURY

4.125 03/31/2029
11/18/2024
11/19/2024
350,000.00
348,327.32

0.00 0.00
348,376.01
1,222.85

0.00 2,445.70
1,222.85

48.69 0.00

48.69 1,271.54
1,271.54
91282CKP5 UNITED STATES TREASURY

4.625 04/30/2029
08/08/2024
08/09/2024
375,000.00
382,987.48

0.00 0.00
382,761.35

47.13 0.00
1,508.15
1,461.02

0.00 (226.13)
(226.13)
1,234.89
1,234.89
91282CKV2 UNITED STATES TREASURY

4.625 06/15/2027
05/28/2026
05/29/2026
300,000.00

0.00 302,214.84

0.00 302,197.45

0.00 (6,289.49)
6,403.85
114.36

0.00 (17.39)
(17.39)

96.96 96.96
91282CKZ3 UNITED STATES TREASURY

4.375 07/15/2027
08/08/2024
08/09/2024
375,000.00
376,975.76

0.00 0.00
376,836.56
4,804.04

0.00 6,209.00
1,404.96

0.00 (139.20)
(139.20)
1,265.75
1,265.75
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029
08/20/2024
08/21/2024
350,000.00
353,047.91

0.00 0.00
352,968.31
3,480.66

0.00 4,679.56
1,198.90

0.00 (79.60)
(79.60)
1,119.30
1,119.30
91282CLK5 UNITED STATES TREASURY

3.625 08/31/2029 400,000.00
400,368.80

0.00 0.00
400,359.41
2,442.93

0.00 3,664.40
1,221.47

0.00 0.00
392,901.15
1,185.79

0.00 2,371.58
1,185.79
180.83

0.00 180.83
1,366.62
1,366.62
91282CLR0 UNITED STATES TREASURY

4.125 10/31/2029 400,000.00
397,420.64

0.00 0.00
397,483.16

44.84 0.00
1,434.78
1,389.95

62.52 0.00

62.52 1,452.46
1,452.46
91282CMA6 UNITED STATES TREASURY

4.125 11/30/2029
12/11/2024
12/12/2024
400,000.00
400,394.63

0.00 0.00
400,385.29
6,890.11

0.00 45.08
(6,845.03)

0.00 (9.35)
(9.35)
(6,854.37)
(6,854.37)
91282CMD0 UNITED STATES TREASURY

4.375 12/31/2029 400,000.00
399,022.56

0.00 0.00
399,045.17
5,849.45

0.00 7,348.07
1,498.62

25.76 (3.15)

22.61 1,521.23
1,521.23
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030
04/07/2025
04/08/2025
300,000.00
302,654.70

0.00 0.00
302,597.15
1,016.39

0.00 2,032.79
1,016.39

0.00 (57.55)
(57.55)
958.84
958.84
91282CMZ1 UNITED STATES TREASURY

3.875 04/30/2030
09/16/2025
09/17/2025
500,000.00
505,564.44

0.00 0.00
505,446.29

52.65 0.00
1,684.78
1,632.13

0.00 (118.15)
(118.15)
1,513.98
1,513.98
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030
06/09/2025
06/10/2025
350,000.00
348,967.29

0.00 0.00
348,988.77
5,846.15

0.00 38.25
(5,807.90)

21.47 0.00

21.47 (5,786.43)
(5,786.43)
91282CNK3 UNITED STATES TREASURY

3.875 06/30/2030
07/29/2025
07/30/2025
325,000.00
324,096.88

0.00 0.00
324,115.28
4,209.51

0.00 5,287.98
1,078.47

18.41 0.00

18.41 1,096.88
1,096.88
91282CNN7 UNITED STATES TREASURY

3.875 07/31/2030
08/26/2025
08/27/2025
225,000.00
225,932.62

0.00 0.00
225,914.00
2,167.65

0.00 2,914.28
746.63

3.625 08/15/2028
01/29/2026
01/30/2026
250,000.00
250,140.93

0.00 0.00
250,135.71
1,877.59

0.00 2,653.66
776.07

0.00 (5.22)
(5.22)
770.85
770.85
91282CNX5 UNITED STATES TREASURY

3.625 08/31/2030
09/16/2025
09/17/2025
500,000.00
500,820.38

0.00 0.00
500,804.31
3,053.67

0.00 4,580.50
1,526.83

0.00 (16.07)
(16.07)
1,510.77
1,510.77
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030
12/09/2025
12/10/2025
150,000.00
148,298.62

0.00 0.00
148,330.13
2,192.31

0.00 14.34
(2,177.96)

31.51 0.00

31.51 (2,146.46)
(2,146.46)
91282CPP0 UNITED STATES TREASURY 3.5
12/15/2028
01/29/2026
01/30/2026
250,000.00
249,241.86

0.00 0.00
249,266.37
3,293.27

0.00 4,038.46
745.19

24.51 0.00

24.51 769.70
769.70
91282CPR6 UNITED STATES TREASURY

3.625 12/31/2030
01/29/2026
01/30/2026
350,000.00
347,183.52

0.00 0.00
347,234.73
4,240.85

0.00 5,327.35
1,086.50

51.21 0.00

51.21 1,137.71
1,137.71
91282CPS4 UNITED STATES TREASURY

3.375 12/31/2027
05/28/2026
05/29/2026
300,000.00

0.00 297,105.47

0.00 297,120.42

0.00 (4,167.47)
4,251.38

83.91 14.95

0.00 14.95

98.86 98.86
92826CAZ5 VISA INC 4.1 02/12/2031
02/03/2026
02/12/2026
140,000.00
139,820.41

0.00 0.00
139,823.60
1,259.61

0.00 1,737.94
478.33

3.18 0.00

3.18 481.52
481.52
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029
10/17/2024
10/24/2024
110,000.00
109,988.64

0.00 0.00
109,988.91
209.73
393.25
209.73
393.25

0.28 0.00

0.28 393.53
393.53
931142FN8 WALMART INC 4.35
04/28/2030
04/23/2025
04/28/2025
185,000.00
184,744.45

0.00 0.00
184,749.88

67.06 0.00
737.69
670.63

5.43 0.00

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
Total Fixed Income 21,371,742.86
21,052,577.56
1,190,114.42
(1,018,999.07)
21,227,002.99
149,853.72
25,995.47
176,085.68
52,227.43
5,472.84
(2,162.75)
3,310.09
55,537.52 55,537.52
TOTAL PORTFOLIO 21,491,751.57
21,294,616.05
1,974,254.98
(1,943,711.45)
21,347,011.70
149,853.72
26,424.97
176,085.68
52,656.93
5,472.84
(2,162.75)
3,310.09
55,967.02 55,967.02
Item 7.4
Tuesday, July 07, 2026 64 of 492
CONFIDENTIAL | 31
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount JUNE 2026
06/01/2026 Coupon 91282CPN5 0.00 UNITED STATES TREASURY 3.5 11/30/2030 2,625.00 2,625.00 06/01/2026 Coupon 91282CNG2 0.00 UNITED STATES TREASURY 4.0 05/31/2030 7,000.00 7,000.00 06/01/2026 Coupon 91282CMA6 0.00 UNITED STATES TREASURY 4.125 11/30/2029 8,250.00 8,250.00 06/11/2026 Coupon 24422EXT1 225,000.00 JOHN DEERE CAPITAL CORP 4.85 06/11/2029 5,456.25 5,456.25 06/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 06/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 06/15/2026 Coupon 06406RBG1 225,000.00 BANK OF NEW YORK MELLON CORP 3.992 06/13/2028 4,491.00 4,491.00
06/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 06/15/2026 Coupon 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 611.56 611.56 06/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 06/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 06/15/2026 Coupon 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 578.05 578.05 06/15/2026 Principal Paydown 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 8,373.77 8,373.77 06/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 06/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 06/15/2026 Coupon 891940AC2 20,554.81 TAOT 2023-A A3 4.63 09/15/2027 79.79 79.79 06/15/2026 Principal Paydown 891940AC2 20,554.81 TAOT 2023-A A3 4.63 09/15/2027 5,528.23 5,528.23 06/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 06/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 06/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 2,581.64 2,581.64 06/15/2026 Coupon 91282CKV2 300,000.00 UNITED STATES TREASURY 4.625 06/15/2027 6,937.50 6,937.50 06/15/2026 Coupon 91282CPP0 250,000.00 UNITED STATES TREASURY 3.5 12/15/2028 4,375.00 4,375.00 06/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 06/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 06/16/2026 Coupon 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 06/16/2026 Principal Paydown 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 2,850.28 2,850.28 06/22/2026 Coupon 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 304.50 304.50 06/22/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 06/22/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 06/25/2026 Coupon 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 1,268.24 1,268.24 Item 7.4
Tuesday, July 07, 2026 65 of 492
CONFIDENTIAL | 32
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/25/2026 Principal Paydown 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 19,070.27 19,070.27 06/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 06/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 06/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 06/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 06/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 06/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 06/25/2026 Coupon 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 365.31 365.31 06/25/2026 Principal Paydown 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 168.19 168.19 06/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 06/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 06/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 06/30/2026 Coupon 91282CEV9 350,000.00 UNITED STATES TREASURY 3.25 06/30/2029 5,687.50 5,687.50 06/30/2026 Coupon 91282CHK0 350,000.00 UNITED STATES TREASURY 4.0 06/30/2028 7,000.00 7,000.00 06/30/2026 Coupon 91282CMD0 400,000.00 UNITED STATES TREASURY 4.375 12/31/2029 8,750.00 8,750.00 06/30/2026 Coupon 91282CNK3 325,000.00 UNITED STATES TREASURY 3.875 06/30/2030 6,296.88 6,296.88 06/30/2026 Coupon 91282CPR6 350,000.00 UNITED STATES TREASURY 3.625 12/31/2030 6,343.75 6,343.75 06/30/2026 Coupon 91282CPS4 300,000.00 UNITED STATES TREASURY 3.375 12/31/2027 5,062.50 5,062.50 June 2026 Total 38,572.37 91,911.16 130,483.53
JULY 2026
07/09/2026 Coupon 89236TNA9 170,000.00 TOYOTA MOTOR CREDIT CORP 4.95 01/09/2030 4,207.50 4,207.50 07/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 07/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 07/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 07/15/2026 Coupon 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 573.33 573.33 07/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 07/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 07/15/2026 Coupon 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 543.44 543.44 07/15/2026 Principal Paydown 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 8,479.17 8,479.17 07/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 07/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 07/15/2026 Coupon 74340XCQ2 250,000.00 PROLOGIS LP 4.75 01/15/2031 5,937.50 5,937.50 Item 7.4
Tuesday, July 07, 2026 66 of 492
CONFIDENTIAL | 33
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/15/2026 Coupon 891940AC2 20,554.81 TAOT 2023-A A3 4.63 09/15/2027 58.46 58.46 07/15/2026 Principal Paydown 891940AC2 20,554.81 TAOT 2023-A A3 4.63 09/15/2027 5,398.59 5,398.59 07/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 07/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 210.53 210.53 07/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 3,411.09 3,411.09 07/15/2026 Coupon 91282CKZ3 375,000.00 UNITED STATES TREASURY 4.375 07/15/2027 8,203.13 8,203.13 07/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 07/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 07/16/2026 Coupon 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 209.55 209.55 07/16/2026 Principal Paydown 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 2,981.57 2,981.57 07/20/2026 Coupon 025816EJ4 170,000.00 AMERICAN EXPRESS CO 4.351 07/20/2029 3,698.35 3,698.35 07/20/2026 Coupon 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 253.75 253.75 07/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 07/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 07/24/2026 Coupon 46647PEU6 115,000.00 JPMORGAN CHASE & CO 4.915 01/24/2029 2,826.13 2,826.13 07/27/2026 Coupon 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 1,185.92 1,185.92 07/27/2026 Principal Paydown 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 18,749.88 18,749.88 07/27/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 07/27/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 07/27/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 07/27/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 07/27/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 07/27/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 07/27/2026 Coupon 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 364.89 364.89 07/27/2026 Principal Paydown 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 182.16 182.16 07/27/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 07/27/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 07/27/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 07/27/2026 Coupon 46647PDG8 150,000.00 JPMORGAN CHASE & CO 4.851 07/25/2028 3,638.25 3,638.25 07/31/2026 Coupon 91282CLC3 350,000.00 UNITED STATES TREASURY 4.0 07/31/2029 7,000.00 7,000.00 07/31/2026 Coupon 91282CNN7 225,000.00 UNITED STATES TREASURY 3.875 07/31/2030 4,359.38 4,359.38 July 2026 Total 39,202.46 53,258.44 92,460.90
Item 7.4
Tuesday, July 07, 2026 67 of 492
CONFIDENTIAL | 34
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount AUGUST 2026
08/03/2026 Coupon 13063EGT7 205,000.00 CALIFORNIA STATE 4.5 08/01/2029 4,612.50 4,612.50 08/03/2026 Coupon 756109CW2 250,000.00 REALTY INCOME CORP 3.95 02/01/2029 4,937.50 4,937.50 08/03/2026 Coupon 91159HJK7 200,000.00 US BANCORP 4.653 02/01/2029 4,653.00 4,653.00 08/07/2026 Coupon 63743HFX5 250,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.95 02/07/2030 6,187.50 6,187.50
08/10/2026 Coupon 89236TMK8 225,000.00 TOYOTA MOTOR CREDIT CORP 4.55 08/09/2029 5,118.75 5,118.75 08/12/2026 Coupon 92826CAZ5 140,000.00 VISA INC 4.1 02/12/2031 2,870.00 2,870.00 08/14/2026 Coupon 532457CQ9 235,000.00 ELI LILLY AND CO 4.2 08/14/2029 4,935.00 4,935.00 08/17/2026 Coupon 02079KBK2 200,000.00 ALPHABET INC 4.1 02/15/2031 4,145.56 4,145.56 08/17/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 08/17/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 08/17/2026 Coupon 26442CAY0 250,000.00 DUKE ENERGY CAROLINAS LLC 2.45 08/15/2029 3,062.50 3,062.50
08/17/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 08/17/2026 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 1,422.80 1,422.80 08/17/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 08/17/2026 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,633.04 3,633.04 08/17/2026 Coupon 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 198.62 198.62 08/17/2026 Principal Paydown 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 3,249.23 3,249.23 08/17/2026 Coupon 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 573.33 573.33 08/17/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 08/17/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 08/17/2026 Coupon 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 508.39 508.39 08/17/2026 Principal Paydown 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 8,840.41 8,840.41 08/17/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 08/17/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 08/17/2026 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 488.12 488.12 08/17/2026 Coupon 891940AC2 20,554.81 TAOT 2023-A A3 4.63 09/15/2027 37.63 37.63 08/17/2026 Principal Paydown 891940AC2 20,554.81 TAOT 2023-A A3 4.63 09/15/2027 4,617.25 4,617.25 08/17/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 08/17/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 198.03 198.03 Item 7.4
Tuesday, July 07, 2026 68 of 492
CONFIDENTIAL | 35
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/17/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 3,313.21 3,313.21 08/17/2026 Coupon 91282CNU1 250,000.00 UNITED STATES TREASURY 3.625 08/15/2028 4,531.25 4,531.25 08/17/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 08/20/2026 Coupon 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 253.75 253.75 08/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 08/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 08/24/2026 Coupon 17275RBW1 250,000.00 CISCO SYSTEMS INC 4.55 02/24/2028 5,687.50 5,687.50 08/25/2026 Coupon 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 1,104.99 1,104.99 08/25/2026 Principal Paydown 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 18,264.36 18,264.36 08/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 08/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 08/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 08/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 08/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 08/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 08/25/2026 Coupon 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 364.44 364.44 08/25/2026 Principal Paydown 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 169.03 169.03 08/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 08/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 08/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 08/31/2026 Coupon 91282CGP0 375,000.00 UNITED STATES TREASURY 4.0 02/29/2028 7,500.00 7,500.00 08/31/2026 Coupon 91282CKD2 375,000.00 UNITED STATES TREASURY 4.25 02/28/2029 7,968.75 7,968.75 08/31/2026 Coupon 91282CLK5 400,000.00 UNITED STATES TREASURY 3.625 08/31/2029 7,250.00 7,250.00 08/31/2026 Coupon 91282CNX5 500,000.00 UNITED STATES TREASURY 3.625 08/31/2030 9,062.50 9,062.50 August 2026 Total 43,997.44 95,749.81 139,747.25
SEPTEMBER 2026
09/09/2026 Coupon 3130B7QM9 500,000.00 FEDERAL HOME LOAN BANKS 3.5 09/09/2027 8,750.00 8,750.00 09/15/2026 Coupon 00287YDY2 125,000.00 ABBVIE INC 4.65 03/15/2028 2,906.25 2,906.25 09/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 09/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 09/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 455.53 455.53 09/15/2026 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 4,718.90 4,718.90 Item 7.4
Tuesday, July 07, 2026 69 of 492
CONFIDENTIAL | 36
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/15/2026 Coupon 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 573.33 573.33 09/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 09/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 09/15/2026 Coupon 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 471.85 471.85 09/15/2026 Principal Paydown 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 10,398.35 10,398.35 09/15/2026 Coupon 571748CA8 250,000.00 MARSH & MCLENNAN COMPANIES INC 4.65 03/15/2030 5,812.50 5,812.50
09/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 09/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 456.14 456.14 09/15/2026 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 5,691.36 5,691.36 09/15/2026 Coupon 79466LAQ7 140,000.00 SALESFORCE INC 4.5 03/15/2028 3,185.00 3,185.00 09/15/2026 Coupon 891940AC2 20,554.81 TAOT 2023-A A3 4.63 09/15/2027 19.82 19.82 09/15/2026 Principal Paydown 891940AC2 20,554.81 TAOT 2023-A A3 4.63 09/15/2027 4,404.13 4,404.13 09/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 09/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 185.88 185.88 09/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 3,253.67 3,253.67 09/15/2026 Coupon 91282CKE0 350,000.00 UNITED STATES TREASURY 4.25 03/15/2027 7,437.50 7,437.50 09/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 09/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 294.01 294.01 09/16/2026 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,336.16 3,336.16 09/16/2026 Coupon 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 186.70 186.70 09/16/2026 Principal Paydown 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 3,196.64 3,196.64 09/21/2026 Coupon 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 253.75 253.75 09/21/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 09/21/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 09/21/2026 Coupon 459058LR2 125,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 2,578.13 2,578.13
09/25/2026 Coupon 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 1,026.15 1,026.15 09/25/2026 Principal Paydown 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 17,937.01 17,937.01 09/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 09/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 09/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 Item 7.4
Tuesday, July 07, 2026 70 of 492
CONFIDENTIAL | 37
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 09/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 09/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 09/25/2026 Coupon 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 364.02 364.02 09/25/2026 Principal Paydown 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 169.42 169.42 09/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 09/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 09/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 09/30/2026 Coupon 91282CFM8 350,000.00 UNITED STATES TREASURY 4.125 09/30/2027 7,218.75 7,218.75 09/30/2026 Coupon 91282CKG5 350,000.00 UNITED STATES TREASURY 4.125 03/31/2029 7,218.75 7,218.75 09/30/2026 Coupon 91282CLN9 400,000.00 UNITED STATES TREASURY 3.5 09/30/2029 7,000.00 7,000.00 09/30/2026 Coupon 91282CMU2 300,000.00 UNITED STATES TREASURY 4.0 03/31/2030 6,000.00 6,000.00 September 2026
Total 53,105.64 71,155.31 124,260.95
OCTOBER 2026
10/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 10/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 10/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 437.41 437.41 10/15/2026 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 6,577.28 6,577.28 10/15/2026 Coupon 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 573.33 573.33 10/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 10/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 10/15/2026 Coupon 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 428.87 428.87 10/15/2026 Principal Paydown 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 9,607.61 9,607.61 10/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 10/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 433.47 433.47 10/15/2026 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 5,471.70 5,471.70 10/15/2026 Coupon 891940AC2 20,554.81 TAOT 2023-A A3 4.63 09/15/2027 2.83 2.83 10/15/2026 Effective Maturity 891940AC2 20,554.81 TAOT 2023-A A3 4.63 09/15/2027 732.75 732.75 10/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 10/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 173.95 173.95 10/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 3,064.40 3,064.40 Item 7.4
Tuesday, July 07, 2026 71 of 492
CONFIDENTIAL | 38
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/15/2026 Coupon 91282CJC6 375,000.00 UNITED STATES TREASURY 4.625 10/15/2026 8,671.88 8,671.88 10/15/2026 Final Maturity 91282CJC6 375,000.00 UNITED STATES TREASURY 4.625 10/15/2026 375,000.00 375,000.00 10/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 10/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 281.17 281.17 10/16/2026 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,153.98 4,153.98 10/16/2026 Coupon 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 174.98 174.98 10/16/2026 Principal Paydown 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 3,075.42 3,075.42 10/16/2026 Coupon 459058LN1 350,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 6,781.25 6,781.25
10/19/2026 Coupon 61748UAK8 155,000.00 MORGAN STANLEY 4.133 10/18/2029 3,203.08 3,203.08 10/20/2026 Coupon 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 253.75 253.75 10/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 10/20/2026 Principal Paydown 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 8,729.94 8,729.94 10/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 10/21/2026 Coupon 38141GD27 105,000.00 GOLDMAN SACHS GROUP INC 4.153 10/21/2029 2,180.33 2,180.33
10/22/2026 Coupon 857477CP6 175,000.00 STATE STREET CORP 4.33 10/22/2027 3,788.75 3,788.75 10/26/2026 Coupon 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 948.72 948.72 10/26/2026 Principal Paydown 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 16,419.54 16,419.54 10/26/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 10/26/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 10/26/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 10/26/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 10/26/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 10/26/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 10/26/2026 Coupon 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 363.60 363.60 10/26/2026 Principal Paydown 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 183.28 183.28 10/26/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 10/26/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 10/26/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 10/28/2026 Coupon 931142FN8 185,000.00 WALMART INC 4.35 04/28/2030 4,023.75 4,023.75 10/29/2026 Coupon 06051GJB6 300,000.00 BANK OF AMERICA CORP 2.592 04/29/2031 3,888.00 3,888.00 Item 7.4
Tuesday, July 07, 2026 72 of 492
CONFIDENTIAL | 39
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount October 2026 Total 433,015.90 45,370.34 478,386.24
NOVEMBER 2026
11/02/2026 Coupon 91282CJF9 375,000.00 UNITED STATES TREASURY 4.875 10/31/2028 9,140.63 9,140.63 11/02/2026 Coupon 91282CKP5 375,000.00 UNITED STATES TREASURY 4.625 04/30/2029 8,671.88 8,671.88 11/02/2026 Coupon 91282CLR0 400,000.00 UNITED STATES TREASURY 4.125 10/31/2029 8,250.00 8,250.00 11/02/2026 Coupon 91282CMZ1 500,000.00 UNITED STATES TREASURY 3.875 04/30/2030 9,687.50 9,687.50 11/09/2026 Coupon 69371RT71 230,000.00 PACCAR FINANCIAL CORP 4.55 05/08/2030 5,232.50 5,232.50 11/16/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 11/16/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 11/16/2026 Coupon 14913UAU4 250,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.7 11/15/2029 5,875.00 5,875.00
11/16/2026 Coupon 30303MAB8 250,000.00 META PLATFORMS INC 4.2 11/15/2030 5,250.00 5,250.00 11/16/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 412.14 412.14 11/16/2026 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 6,448.53 6,448.53 11/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 265.18 265.18 11/16/2026 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,076.34 4,076.34 11/16/2026 Coupon 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 163.71 163.71 11/16/2026 Principal Paydown 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 3,017.72 3,017.72 11/16/2026 Coupon 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 573.33 573.33 11/16/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 11/16/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 11/16/2026 Coupon 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 389.16 389.16 11/16/2026 Principal Paydown 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 11,462.81 11,462.81 11/16/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 11/16/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 411.67 411.67 11/16/2026 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 5,374.24 5,374.24 11/16/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 11/16/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 162.71 162.71 11/16/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 2,866.57 2,866.57 11/16/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 11/20/2026 Coupon 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 253.75 253.75 11/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 329.26 329.26 Item 7.4
Tuesday, July 07, 2026 73 of 492
CONFIDENTIAL | 40
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/20/2026 Principal Paydown 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 10,377.80 10,377.80 11/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 11/23/2026 Coupon 58933YCK9 85,000.00 MERCK & CO INC 4.65 05/22/2031 1,976.25 1,976.25 11/25/2026 Coupon 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 877.84 877.84 11/25/2026 Principal Paydown 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 16,102.64 16,102.64 11/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 11/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 11/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 11/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 11/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 11/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 11/25/2026 Coupon 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 363.14 363.14 11/25/2026 Principal Paydown 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 170.26 170.26 11/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 11/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 11/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 11/30/2026 Coupon 91282CMA6 400,000.00 UNITED STATES TREASURY 4.125 11/30/2029 8,250.00 8,250.00 11/30/2026 Coupon 91282CNG2 350,000.00 UNITED STATES TREASURY 4.0 05/31/2030 7,000.00 7,000.00 11/30/2026 Coupon 91282CPN5 150,000.00 UNITED STATES TREASURY 3.5 11/30/2030 2,625.00 2,625.00 November 2026
Total 59,896.91 84,559.31 144,456.21
DECEMBER 2026
12/11/2026 Coupon 24422EXT1 225,000.00 JOHN DEERE CAPITAL CORP 4.85 06/11/2029 5,456.25 5,456.25 12/14/2026 Coupon 06406RBG1 225,000.00 BANK OF NEW YORK MELLON CORP 3.992 06/13/2028 4,491.00 4,491.00
12/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 12/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 12/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 387.36 387.36 12/15/2026 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 6,067.26 6,067.26 12/15/2026 Coupon 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 573.33 573.33 12/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 12/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 Item 7.4
Tuesday, July 07, 2026 74 of 492
CONFIDENTIAL | 41
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/15/2026 Coupon 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 341.78 341.78 12/15/2026 Principal Paydown 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 7,765.00 7,765.00 12/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 12/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 390.27 390.27 12/15/2026 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 5,085.10 5,085.10 12/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 12/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 152.20 152.20 12/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 2,724.93 2,724.93 12/15/2026 Coupon 91282CKV2 300,000.00 UNITED STATES TREASURY 4.625 06/15/2027 6,937.50 6,937.50 12/15/2026 Coupon 91282CPP0 250,000.00 UNITED STATES TREASURY 3.5 12/15/2028 4,375.00 4,375.00 12/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 12/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 249.48 249.48 12/16/2026 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,862.89 3,862.89 12/16/2026 Coupon 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 152.64 152.64 12/16/2026 Principal Paydown 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 2,861.53 2,861.53 12/21/2026 Coupon 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 253.75 253.75 12/21/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 289.66 289.66 12/21/2026 Principal Paydown 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 13,181.21 13,181.21 12/21/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 12/25/2026 Coupon 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 808.33 808.33 12/25/2026 Principal Paydown 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 15,367.26 15,367.26 12/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 12/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 12/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 12/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 12/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 12/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 12/25/2026 Coupon 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 362.72 362.72 12/25/2026 Principal Paydown 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 184.04 184.04 12/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 12/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 12/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 Item 7.4
Tuesday, July 07, 2026 75 of 492
CONFIDENTIAL | 42
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/31/2026 Coupon 91282CEV9 350,000.00 UNITED STATES TREASURY 3.25 06/30/2029 5,687.50 5,687.50 12/31/2026 Coupon 91282CHK0 350,000.00 UNITED STATES TREASURY 4.0 06/30/2028 7,000.00 7,000.00 12/31/2026 Coupon 91282CMD0 400,000.00 UNITED STATES TREASURY 4.375 12/31/2029 8,750.00 8,750.00 12/31/2026 Coupon 91282CNK3 325,000.00 UNITED STATES TREASURY 3.875 06/30/2030 6,296.88 6,296.88 12/31/2026 Coupon 91282CPR6 350,000.00 UNITED STATES TREASURY 3.625 12/31/2030 6,343.75 6,343.75 12/31/2026 Coupon 91282CPS4 300,000.00 UNITED STATES TREASURY 3.375 12/31/2027 5,062.50 5,062.50 December 2026
Total 57,099.22 72,760.56 129,859.78
JANUARY 2027
01/11/2027 Coupon 89236TNA9 170,000.00 TOYOTA MOTOR CREDIT CORP 4.95 01/09/2030 4,207.50 4,207.50 01/15/2027 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 01/15/2027 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 01/15/2027 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 364.06 364.06 01/15/2027 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 5,964.54 5,964.54 01/15/2027 Coupon 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 573.33 573.33 01/15/2027 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 01/15/2027 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 01/15/2027 Principal Paydown 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 837.88 837.88 01/15/2027 Coupon 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 309.68 309.68 01/15/2027 Principal Paydown 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 11,275.62 11,275.62 01/15/2027 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 01/15/2027 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 370.01 370.01 01/15/2027 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 5,008.30 5,008.30 01/15/2027 Coupon 74340XCQ2 250,000.00 PROLOGIS LP 4.75 01/15/2031 5,937.50 5,937.50 01/15/2027 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 01/15/2027 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 142.21 142.21 01/15/2027 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 2,679.82 2,679.82 01/15/2027 Coupon 91282CKZ3 375,000.00 UNITED STATES TREASURY 4.375 07/15/2027 8,203.13 8,203.13 01/15/2027 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 01/18/2027 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 234.61 234.61 01/18/2027 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,800.56 3,800.56 01/18/2027 Coupon 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 142.15 142.15 Item 7.4
Tuesday, July 07, 2026 76 of 492
CONFIDENTIAL | 43
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/18/2027 Principal Paydown 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 2,815.13 2,815.13 01/20/2027 Coupon 025816EJ4 170,000.00 AMERICAN EXPRESS CO 4.351 07/20/2029 3,698.35 3,698.35 01/20/2027 Coupon 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 253.75 253.75 01/20/2027 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 239.35 239.35 01/20/2027 Principal Paydown 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 13,504.98 13,504.98 01/20/2027 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 01/20/2027 Principal Paydown 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 8,109.16 8,109.16 01/25/2027 Coupon 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 741.99 741.99 01/25/2027 Principal Paydown 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 15,112.56 15,112.56 01/25/2027 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 01/25/2027 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 01/25/2027 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 01/25/2027 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 01/25/2027 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 01/25/2027 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 01/25/2027 Coupon 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 362.26 362.26 01/25/2027 Principal Paydown 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 171.10 171.10 01/25/2027 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 01/25/2027 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 01/25/2027 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 01/25/2027 Coupon 46647PDG8 150,000.00 JPMORGAN CHASE & CO 4.851 07/25/2028 3,638.25 3,638.25 01/25/2027 Coupon 46647PEU6 115,000.00 JPMORGAN CHASE & CO 4.915 01/24/2029 2,826.13 2,826.13 January 2027 Total 69,279.66 40,642.92 109,922.58
FEBRUARY 2027
02/01/2027 Coupon 13063EGT7 205,000.00 CALIFORNIA STATE 4.5 08/01/2029 4,612.50 4,612.50 02/01/2027 Coupon 756109CW2 250,000.00 REALTY INCOME CORP 3.95 02/01/2029 4,937.50 4,937.50 02/01/2027 Coupon 91159HJK7 200,000.00 US BANCORP 4.653 02/01/2029 4,653.00 4,653.00 02/01/2027 Coupon 91282CLC3 350,000.00 UNITED STATES TREASURY 4.0 07/31/2029 7,000.00 7,000.00 02/01/2027 Coupon 91282CNN7 225,000.00 UNITED STATES TREASURY 3.875 07/31/2030 4,359.38 4,359.38 02/08/2027 Coupon 63743HFX5 250,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.95 02/07/2030 6,187.50 6,187.50
02/09/2027 Coupon 89236TMK8 225,000.00 TOYOTA MOTOR CREDIT CORP 4.55 08/09/2029 5,118.75 5,118.75 Item 7.4
Tuesday, July 07, 2026 77 of 492
CONFIDENTIAL | 44
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/12/2027 Coupon 92826CAZ5 140,000.00 VISA INC 4.1 02/12/2031 2,870.00 2,870.00 02/15/2027 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 341.14 341.14 02/15/2027 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 5,904.76 5,904.76 02/15/2027 Coupon 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 573.33 573.33 02/15/2027 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 02/15/2027 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 349.55 349.55 02/15/2027 Principal Paydown 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 6,821.49 6,821.49 02/15/2027 Coupon 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 263.08 263.08 02/15/2027 Principal Paydown 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 7,583.39 7,583.39 02/15/2027 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 02/15/2027 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 350.06 350.06 02/15/2027 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 4,967.91 4,967.91 02/15/2027 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 02/15/2027 Principal Paydown 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 2,667.18 2,667.18 02/15/2027 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 132.38 132.38 02/15/2027 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 2,650.85 2,650.85 02/16/2027 Coupon 02079KBK2 200,000.00 ALPHABET INC 4.1 02/15/2031 4,100.00 4,100.00 02/16/2027 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 02/16/2027 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 02/16/2027 Coupon 26442CAY0 250,000.00 DUKE ENERGY CAROLINAS LLC 2.45 08/15/2029 3,062.50 3,062.50
02/16/2027 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 219.98 219.98 02/16/2027 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,576.31 3,576.31 02/16/2027 Coupon 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 131.83 131.83 02/16/2027 Principal Paydown 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 2,787.34 2,787.34 02/16/2027 Coupon 532457CQ9 235,000.00 ELI LILLY AND CO 4.2 08/14/2029 4,935.00 4,935.00 02/16/2027 Coupon 91282CNU1 250,000.00 UNITED STATES TREASURY 3.625 08/15/2028 4,531.25 4,531.25 02/16/2027 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 02/22/2027 Coupon 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 253.75 253.75 02/22/2027 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 187.80 187.80 02/22/2027 Principal Paydown 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 10,930.70 10,930.70 02/22/2027 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 284.57 284.57 Item 7.4
Tuesday, July 07, 2026 78 of 492
CONFIDENTIAL | 45
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/22/2027 Principal Paydown 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 9,658.52 9,658.52 02/24/2027 Coupon 17275RBW1 250,000.00 CISCO SYSTEMS INC 4.55 02/24/2028 5,687.50 5,687.50 02/25/2027 Coupon 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 676.76 676.76 02/25/2027 Principal Paydown 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 14,935.68 14,935.68 02/25/2027 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 02/25/2027 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 02/25/2027 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 02/25/2027 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 02/25/2027 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 02/25/2027 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 02/25/2027 Coupon 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 361.83 361.83 02/25/2027 Principal Paydown 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 171.50 171.50 02/25/2027 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 02/25/2027 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 02/25/2027 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 February 2027
Total 72,655.63 73,914.36 146,569.98
MARCH 2027
03/01/2027 Coupon 91282CGP0 375,000.00 UNITED STATES TREASURY 4.0 02/29/2028 7,500.00 7,500.00 03/01/2027 Coupon 91282CKD2 375,000.00 UNITED STATES TREASURY 4.25 02/28/2029 7,968.75 7,968.75 03/01/2027 Coupon 91282CLK5 400,000.00 UNITED STATES TREASURY 3.625 08/31/2029 7,250.00 7,250.00 03/01/2027 Coupon 91282CNX5 500,000.00 UNITED STATES TREASURY 3.625 08/31/2030 9,062.50 9,062.50 03/09/2027 Coupon 3130B7QM9 500,000.00 FEDERAL HOME LOAN BANKS 3.5 09/09/2027 8,750.00 8,750.00 03/15/2027 Coupon 00287YDY2 125,000.00 ABBVIE INC 4.65 03/15/2028 2,906.25 2,906.25 03/15/2027 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 03/15/2027 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 03/15/2027 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 318.46 318.46 03/15/2027 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 5,728.35 5,728.35 03/15/2027 Coupon 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 573.33 573.33 03/15/2027 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 03/15/2027 Principal Paydown 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 2,405.47 2,405.47 03/15/2027 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 325.50 325.50 Item 7.4
Tuesday, July 07, 2026 79 of 492
CONFIDENTIAL | 46
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/15/2027 Principal Paydown 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 4,965.13 4,965.13 03/15/2027 Coupon 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 231.73 231.73 03/15/2027 Principal Paydown 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 4,937.84 4,937.84 03/15/2027 Coupon 571748CA8 250,000.00 MARSH & MCLENNAN COMPANIES INC 4.65 03/15/2030 5,812.50 5,812.50
03/15/2027 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 03/15/2027 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 330.27 330.27 03/15/2027 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 4,827.45 4,827.45 03/15/2027 Coupon 79466LAQ7 140,000.00 SALESFORCE INC 4.5 03/15/2028 3,150.00 3,150.00 03/15/2027 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 225.44 225.44 03/15/2027 Principal Paydown 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 3,419.41 3,419.41 03/15/2027 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 122.66 122.66 03/15/2027 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 2,578.22 2,578.22 03/15/2027 Coupon 91282CKE0 350,000.00 UNITED STATES TREASURY 4.25 03/15/2027 7,437.50 7,437.50 03/15/2027 Final Maturity 91282CKE0 350,000.00 UNITED STATES TREASURY 4.25 03/15/2027 350,000.00 350,000.00 03/15/2027 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 03/16/2027 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 206.21 206.21 03/16/2027 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,453.71 3,453.71 03/16/2027 Coupon 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 121.61 121.61 03/16/2027 Principal Paydown 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 2,708.45 2,708.45 03/22/2027 Coupon 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 253.75 253.75 03/22/2027 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 146.08 146.08 03/22/2027 Principal Paydown 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 9,713.66 9,713.66 03/22/2027 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 251.01 251.01 03/22/2027 Principal Paydown 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 12,506.30 12,506.30 03/22/2027 Coupon 459058LR2 125,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 2,578.13 2,578.13
03/25/2027 Coupon 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 612.29 612.29 03/25/2027 Principal Paydown 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 13,189.25 13,189.25 03/25/2027 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 03/25/2027 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 03/25/2027 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 Item 7.4
Tuesday, July 07, 2026 80 of 492
CONFIDENTIAL | 47
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/25/2027 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 03/25/2027 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 03/25/2027 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 03/25/2027 Coupon 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 361.41 361.41 03/25/2027 Principal Paydown 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 211.69 211.69 03/25/2027 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 03/25/2027 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 03/25/2027 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 03/31/2027 Coupon 91282CFM8 350,000.00 UNITED STATES TREASURY 4.125 09/30/2027 7,218.75 7,218.75 03/31/2027 Coupon 91282CKG5 350,000.00 UNITED STATES TREASURY 4.125 03/31/2029 7,218.75 7,218.75 03/31/2027 Coupon 91282CLN9 400,000.00 UNITED STATES TREASURY 3.5 09/30/2029 7,000.00 7,000.00 03/31/2027 Coupon 91282CMU2 300,000.00 UNITED STATES TREASURY 4.0 03/31/2030 6,000.00 6,000.00 March 2027 Total 420,644.92 101,431.21 522,076.13
APRIL 2027
04/15/2027 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 04/15/2027 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 04/15/2027 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 296.45 296.45 04/15/2027 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 5,983.56 5,983.56 04/15/2027 Coupon 43814YAD3 160,000.00 HAROT 2026-2 A3 4.3 11/15/2030 573.33 573.33 04/15/2027 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 281.93 281.93 04/15/2027 Principal Paydown 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 4,997.67 4,997.67 04/15/2027 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 308.00 308.00 04/15/2027 Principal Paydown 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 5,951.87 5,951.87 04/15/2027 Coupon 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 211.32 211.32 04/15/2027 Principal Paydown 47800RAD5 139,850.58 JDOT 2024 A3 4.96 11/15/2028 6,222.16 6,222.16 04/15/2027 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 04/15/2027 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 311.04 311.04 04/15/2027 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 5,056.36 5,056.36 04/15/2027 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 213.07 213.07 04/15/2027 Principal Paydown 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 3,578.51 3,578.51 04/15/2027 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 113.21 113.21 04/15/2027 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 2,664.98 2,664.98 Item 7.4
Tuesday, July 07, 2026 81 of 492
CONFIDENTIAL | 48
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/15/2027 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 04/16/2027 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 192.91 192.91 04/16/2027 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,613.37 3,613.37 04/16/2027 Coupon 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 111.67 111.67 04/16/2027 Principal Paydown 38014AAD3 59,391.80 GMCAR 2024-4 A3 4.4 08/16/2029 2,817.26 2,817.26 04/16/2027 Coupon 459058LN1 350,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 6,781.25 6,781.25
04/19/2027 Coupon 61748UAK8 155,000.00 MORGAN STANLEY 4.133 10/18/2029 3,203.08 3,203.08 04/20/2027 Coupon 36275AAD1 70,000.00 GMALT 2026-2 A3 4.3 03/20/2029 253.75 253.75 04/20/2027 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 109.01 109.01 04/20/2027 Principal Paydown 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 9,499.28 9,499.28 04/20/2027 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 207.55 207.55 04/20/2027 Principal Paydown 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 14,076.92 14,076.92 04/21/2027 Coupon 38141GD27 105,000.00 GOLDMAN SACHS GROUP INC 4.153 10/21/2029 2,180.33 2,180.33
04/22/2027 Coupon 857477CP6 175,000.00 STATE STREET CORP 4.33 10/22/2027 3,788.75 3,788.75 04/26/2027 Coupon 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 555.35 555.35 04/26/2027 Principal Paydown 096919AD7 269,940.98 BMWOT 2024-A A3 5.18 02/26/2029 13,450.19 13,450.19 04/26/2027 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 04/26/2027 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 04/26/2027 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 04/26/2027 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 04/26/2027 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 04/26/2027 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 04/26/2027 Coupon 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 360.88 360.88 04/26/2027 Principal Paydown 3137FMCR1 147,004.70 FHMS K-093 A2 2.982 05/25/2029 172.44 172.44 04/26/2027 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 04/26/2027 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 04/26/2027 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 04/28/2027 Coupon 931142FN8 185,000.00 WALMART INC 4.35 04/28/2030 4,023.75 4,023.75 04/29/2027 Coupon 06051GJB6 300,000.00 BANK OF AMERICA CORP 2.592 04/29/2031 3,888.00 3,888.00 04/30/2027 Coupon 91282CJF9 375,000.00 UNITED STATES TREASURY 4.875 10/31/2028 9,140.63 9,140.63 Item 7.4
Tuesday, July 07, 2026 82 of 492
CONFIDENTIAL | 49
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/30/2027 Coupon 91282CKP5 375,000.00 UNITED STATES TREASURY 4.625 04/30/2029 8,671.88 8,671.88 04/30/2027 Coupon 91282CLR0 400,000.00 UNITED STATES TREASURY 4.125 10/31/2029 8,250.00 8,250.00 04/30/2027 Coupon 91282CMZ1 500,000.00 UNITED STATES TREASURY 3.875 04/30/2030 9,687.50 9,687.50 April 2027 Total 78,084.56 70,922.30 149,006.86
Grand Total 93,791,685.31 1,365,554.71 801,675.70 2,167,230.42 Item 7.4
Tuesday, July 07, 2026 83 of 492
CONFIDENTIAL | 50
City of Campbell | Account #11214 | As of May 31, 2026
Execution Time: 06/03/2026 04:25:47 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

IMPORTANT DISCLOSURES
Chandler Asset Management, Inc. (“Chandler”) is an SEC registered investment adviser. For additional information about our firm, please see our current disclosures (Form ADV).

To obtain a copy of our current disclosures, you may contact your client service representative by calling the number on the front of this statement or you may visit our website at www.chandlerasset.com.

Information contained in this monthly statement is confidential and is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of this statement, but may become outdated or superseded at any time without notice.

Custody: Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account.

Valuation: Prices are provided by IDC, an independent pricing source. In the event IDC does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance: Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE INDICES AND RELATED DATA ON AN “AS IS” BASIS; ICE, ITS AFFILIATES AND

THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM.

NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS GUARANTEE THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN “AS IS” BASIS AND LICENSEE’S USE IS AT LICENSEE’S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND CHANDLER, OR ANY OF ITS PRODUCTS OR SERVICES.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Ratings: Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest.

LGIP Yields: Reported yields for local government investment pools may be presented as either the 30-day yield or the monthly distribution yield, as applicable. For certain funds, the 30-day yield is calculated using reported daily yield data. Yield calculations are subject to change and may not be directly comparable across funds.

LAIF Yields: Additional Disclosure for CA Clients - As a result of a reporting lag from the Local Agency Investment Fund (LAIF), reported LAIF yields represent the most recently available Daily Effective Yield and may reflect data from approximately 7–10 days prior to month-end.

BENCHMARK INDEX & DISCLOSURES
Benchmark Disclosure
ICE BofA 1-5 Yr US Treasury & Agency
Index
The ICE BofA 1-5 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.

Item 7.4
Tuesday, July 07, 2026 85 of 492
City Council Report
DATE: July 7, 2026
TITLE: Monthly Treasurer’s Report (May 2026)
RECOMMENDED ACTION:

That the City Council review and accept the Monthly Treasurer’s Report for the month ended May 31, 2026.

BACKGROUND
California government code section 41004 requires that the City Treasurer submits to the City Clerk and the legislative body a written report and accounting of all receipts, disbursements, and fund balances. The City of Campbell’s Finance Director has the responsibility of City Treasurer. This report has been prepared to fulfill this requirement.

This report provides financial transaction data for the City of Campbell’s Funds collectively, including the City’s General (Operating) Fund.

DISCUSSION
This Monthly Treasurer’s Report details and summarizes receipts, disbursements, and fund balances for the month ended May 31, 2026. As shown in Attachment 1, the City recognized $9 million in revenues and incurred $7.2 million in expenditures in total, for all City funds along with $29,000 of positive prior period adjustments. The City’s overall ending fund balance for May 2026 is $67.6 million, an increase of $1.9 million from the April 2026 total of $65.7 million. Also in the General Fund, the City recognized $8.2 million in revenues and incurred $4.7 million in expenditures in total, along with $51,000 of negative prior period adjustments. The General Fund’s overall ending fund balance for May 2026 is $30.5 million, an increase of $3.4 million from the April 2026 total for $27.2 million.

FISCAL IMPACT
There is no fiscal impact associated with the review and acceptance of the Monthly Treasurer’s Report.

PREPARED BY: Carolina Vargas, Accountant
Item 7.5
Tuesday, July 07, 2026 86 of 492

Report Approval Details
Document Title: Report - Monthly Treasurer's Report May 2026.docx Attachments: 2026.05 Fund Balance Report.pdf
Final Approval Date: July 01, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Angelique Gaeta, Assistant City Manager
Item 7.5
Tuesday, July 07, 2026 87 of 492
City of Campbell
Changes in Total Fund Balance
For the month ended May 31, 2026
Fund Balance
as of
04/30/2026
Prior Month
Adjustment
Current
Revenue
Current
Expenditure
Fund Balance
as of
05/31/2026
General Fund
Nonspendable Fund Balance
Prepaid $ 5,118.00 - - - $ 5,118.00
Leases 180,567.00 - - - 180,567.00
Restricted
Measure K 1,655,697.00 - - - 1,655,697.00
Committed Fund Balance
General Plan Update - - - - -
Compensated Absences 1,028,002.00 - - - 1,028,002.00
Liability insurance 144,800.00 - - - 144,800.00
Available Capital Improvement Reserve 237,583.00 - - - 237,583.00 Committed Capital Improvement Reserve 1,963,405.00 - - - 1,963,405.00 Community Center Facility 159,210.00 - - - 159,210.00
Heritage Theater 81,783.00 - - - 81,783.00
Historic Preservation 5,000.00 - - - 5,000.00
Assigned Fund Balance
Capital Projects (Construction Tax) 117,314.00 - - - 117,314.00 Unemployment insurance 90,000.00 - - - 90,000.00
PERS 1,000,000.00 - - - 1,000,000.00
OPEB 393,154.00 - - - 393,154.00
Encumbrances 1,278,920.00 - - - 1,278,920.00
Unassigned Fund Balance
Unassigned 5,760,888.49 (51,078.90) 8,158,513.93 (4,744,057.33) 9,124,266.19 City Council Reserve 362,624.00 - - - 362,624.00
Economic fluctuations 9,485,889.00 - - - 9,485,889.00
Emergency 3,207,454.00 - - - 3,207,454.00
General Fund Total 27,157,408.49 (51,078.90) 8,158,513.93 (4,744,057.33) 30,520,786.19 Special Revenue
Vehicle Impact 3,329,585.47 - 80,296.17 - 3,409,881.64
Gas Tax 3,092,113.00 - 202,745.41 (131,743.79) 3,163,114.62 Asset Forfeiture 182,639.97 - 33,930.18 - 216,570.15
Lighting & Landscape District 1,386,323.96 1,483.79 13,650.37 (346,579.43) 1,054,878.69 Housing & Community Development 329.54 - - - 329.54
Environmental Services 1,636,862.07 - 30,792.00 (17,496.92) 1,650,157.15 Supplemental Law Enforcement 70,801.02 - - (39,722.05) 31,078.97 State & Other Grants (532,287.85) - 89,399.82 (31,068.29) (473,956.32) TDA Grant 301,774.01 - - - 301,774.01
Federal Grants 649,902.91 - - - 649,902.91
Housing Assistance 8,995,528.00 - - (48,573.81) 8,946,954.19 Community Restitution Fund 256,041.31 - 5,931.00 (3,000.00) 258,972.31 Community Facilities District #1 (30,284.81) - - - (30,284.81) Community Facilities District #2 163,634.13 300.00 - (1,436.96) 162,497.17 Parkland Dedication 8,558,358.51 - 13,403.00 - 8,571,761.51 Recreation - Private Grants 6,804.38 - - - 6,804.38
Adult Center 18,849.43 - - - 18,849.43
Special Revenue Fund Total 28,086,975.05 1,783.79 470,147.95 (619,621.25) 27,939,285.54 Debt Service
Measure O 821,726.97 - 8,765.05 - 830,492.02
LID #30 36,531.14 - - 36,531.14
2016 Refunding Lease Revenue Bond (131,199.42) - 5.97 - (131,193.45) Debt Service Fund Total 727,058.69 - 8,771.02 - 735,829.71 Internal Service Fund
Motor Vehicle Pool 971,570.48 - 91,755.67 (85,300.95) 978,025.20 Information Technology Pool (926,745.61) - 104,552.27 (105,248.29) (927,441.63) Worker's Compensation 1,652,231.44 - 51,322.79 (16,851.79) 1,686,702.44 Internal Service Fund Total 1,697,056.31 - 247,630.73 (207,401.03) 1,737,286.01 Trust/Agency
Successor Agency 4,161,179.13 - 1.74 - 4,161,180.87
West Valley Solid Waste JPA 1,145,790.91 - 83,943.83 (11,128.30) 1,218,606.44 SCC Specialized Enforcement Team - 78,343.87 69,428.41 (147,772.28) - Trust/Agency Fund Total 5,306,970.04 78,343.87 153,373.98 (158,900.58) 5,379,787.31 Capital Project
Capital Projects Fund (1,134,816.77) - - (732,588.93) (1,867,405.70) Measure O CIP Fund 3,831,331.16 - 211.78 (705,731.56) 3,125,811.38 Capital Project Fund Total 2,696,514.39 - 211.78 (1,438,320.49) 1,258,405.68 Total City $ 65,671,982.97 29,048.76 $ 9,038,649.39 $ (7,168,300.68) $ 67,571,380.44 Fund Description
Item 7.5
Tuesday, July 07, 2026 88 of 492
City Council Report
DATE: July 7, 2026
TITLE: Adoption of Ordinance 26-2353 Adjusting City Council Compensation RECOMMENDED ACTION:

That the City Council take second reading of Ordinance 26-2353 adjusting City Council Compensation effective January 2027.

BACKGROUND
Traditionally, Councilmember compensation amounts are amended to coincide with the election of at least one new Councilmember. This year, residents of Campbell will elect three Councilmembers whose terms begin in December 2026. Approved compensation amounts would go into effect the first full pay period in January 2027.

The City Council previously amended their compensation in 2024. Government Code (GC) §36516 allows the Council to increase their salary up to five percent (5%) for each calendar year from the operative date of the last compensation adjustment.

DISCUSSION
At its regular meeting on June 16, 2026, the City Council introduced an Ordinance increasing the City Council compensation amount from $1,275 per month to $1,402.50 per month by unanimous vote.

Staff is returning to the City Council for the second reading of the ordinance. In addition, in accordance with Government Code Section 36933, if approved, the full ordinance will be published in the Metro Silicon Valley, a newspaper of general circulation for the City of Campbell, County of Santa Clara, on July 15, 2026. Ordinance 26-2353 will become effective 30 days following the City Council’s second reading.

FISCAL IMPACT
A description of the fiscal impacts of the Councilmember compensation increase is included in the Staff Report dated June 16, 2026. All costs associated with the publication of the adopted ordinance are included in the City Clerk’s Office adopted Fiscal Year 2027 Operating Budget.

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ALTERNATIVES

1. Do not take second reading to adopt Ordinance 26-2353.

2. Provide alternative direction on Ordinance 26-2353 and return for first reading with a revised Ordinance.

PREPARED BY: Andrea Sanders, City Clerk
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Report Approval Details
Document Title: Report - Adoption of Ordinance 26-2353 Adjusting City Council Compensation.docx
Attachments: Ordinance 26-2353 - City Council Compensation.docx Final Approval
Date:

July 01, 2026
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
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ORDINANCE NO. 26-2353

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CAMPBELL ADJUSTING CITY COUNCIL COMPENSATION FOR CALENDAR YEARS 2027 AND 2028
The City Council of the City of Campbell does ordain as follows:

SECTION ONE: Pursuant to California Government Code §36516, the monthly salary of each member of the City Council shall be increased from $1,275.00 per month to $1,402.50 per month, to commence the pay period of January 1 to 14, 2027 to be paid on January 25, 2027.

SECTION TWO: This ordinance shall become effective thirty days following its passage and adoption, and shall be published once within fifteen days upon passage and adoption in The Metro, a newspaper of general circulation in the City of Campbell, County of Santa Clara.

PASSED AND ADOPTED this ___ day of ___, 2026 by the following roll call vote:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

APPROVED:
__________________________
Daniel E. Furtado, Mayor
ATTEST:
________________________________
Andrea Sanders, City Clerk
Item 7.6
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City Council Report
DATE: July 7, 2026
TITLE: Approve an agreement with HdL Companies for sales or transaction and use tax services, authorize the City Manager to execute the agreement, and dispense with bidding procedures (Resolution/Roll Call Vote) RECOMMENDED ACTION:

That the City Council adopt a resolution approving an agreement, authorizing the City Manager to execute a five-year Agreement with Hinderliter, De Llamas & Associates (HdL Companies) to provide Sales or Transaction and Use Tax Audit Services and Sales or Transaction and Use Tax Management Services, and dispensing with the bidding procedures specified in Campbell Municipal Code (CMC) Section 3.20.050.

BACKGROUND
The City of Campbell has contracted with HdL Companies to provide sales or transactions and use tax audit and consulting services since July 1, 2021. These services were approved by Council under a five-year agreement via Resolution 12728 (06-15-21) and have included resolving sales or transaction and use tax reporting errors with the California Department of Tax and Fee Administration (CDTFA) and local businesses, recovering lost sales or transaction and use tax revenue for the City, and meeting with City staff on a quarterly basis to discuss sales or transaction and use tax results, trends, and forecasts utilizing confidential business data accessed from the CDTFA and as approved by City Council Resolution 12729 (06-15-21).

DISCUSSION
Sales and Use Tax is a highly important revenue source and is estimated to be the City’s second largest revenue source in FY 2027 at 21.7% of the General Fund and $16.1 million (before accounting for a potential $7 million annually from Measure K). And since July 2021, HdL Companies has performed its related sales tax consulting, auditing, and recovery duties well. Additionally, the Economic Development Division has found the data and analysis they provide to be very valuable to their own operations and mission.

However, HdL Companies current agreement with the City for sales tax services expired on June 30, 2026. As such, staff recommends entering into a new five-year agreement for similar services. HdL Companies also provides the City with property tax consulting services as well as business license software.

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With over 40 years of experience and serving over 700 cities, counties, and special districts, HdL Companies is an industry leader in sales tax consulting as well as property tax and business license services. HdL Companies is also one of the top two companies in the sales tax consulting field; with the drop off in experience and service quality being quite considerable for the remaining available companies. Neumo (formerly Avenu MuniServices) is also in the top two and was the City’s sales tax consultant for many years prior to HdL Companies. Thus, staff does not believe that it is in the City’s best interest to obtain proposals from other companies. Therefore, it is recommended that the City forgo the competitive bidding process and enter into a new five-year agreement with HdL Companies. This is consistent with the following sections of the Campbell Municipal Code (CMC) which state that bidding procedures may be dispensed with when:
• 3.20.40(4) - The city seeks the special services, consultation or advice in financial, economic, accounting, engineering, legal, administrative or other matters from persons specially trained, experienced and competent to perform the special services required.
• 3.20.40(8) - The City Council, by a majority vote, determines that it is in the best interest of the public to dispense with the requirements of Section 3.20.050, in which case the City Council shall prescribe the appropriate method of purchase.

A tentative agreement with HdL Companies is enclosed as Attachment 2. As shown, under this new agreement, HdL Companies will charges a fee of 18% of all miscalculated, misallocated, and misreported sales tax revenue recovered (up from a 15% rate in their last contract with the City to account for decreasing likelihood of errors occurring by the CDTFA or business entities reporting), 25% of all miscalculated, misallocated, and misreported transaction district taxes revenue recovered (Combined Measure O ¼ Cent District Tax – 2008 and Measure K ½ Cent District Tax - 2024), and an annual fee of $13,716 for access to sales tax records and its quarterly meetings and reports (up from $9,000 per year in their last contract with the City to account for inflationary factors).

FISCAL IMPACT
It is estimated that a new contract with HdL Companies will cost approximately $32,000 per year and $160,000 over the term of the five-year agreement if approved. This is slightly higher than the $24,000 per year programmed into the FY 2027 Adopted Budget and if needed, staff will return to Council at mid-year with an adjustment. Part of the contract pricing is based on variable costs which are not fully known until actual activity is incurred. Staff is not asking for a budget adjustment though at the current time.

ALTERNATIVES
1) Direct staff to not enter into an agreement with HdL Companies and to explore other companies via a competitive bidding process to provide Sales or Transactions and Use Tax audit and consulting services. 2) Provide staff with other direction.

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PREPARED BY: Will Fuentes, Finance Director
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Report Approval Details
Document Title: Report - HdL Sales Tax Contract.docx
Attachments: Resolution HdL Contract (eff. 07-01-26).docx HdL Sales Tax Agreement (eff 07-01-26).docx
Final Approval Date: July 01, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.7
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RESOLUTION NO. ________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL

APPROVING AN AGRREMENT, AUTHORIZING THE CITY MANAGER TO

EXECUTE A FIVE-YEAR AGREEMENT WITH HINDERLITER, DE LLAMAS &

ASSOCIATES (HDL COMPANIES) TO PROVIDE SALES OR TRANSACTION

AND USE TAX AUDIT SERVICES AND SALES OR TRANSACTION AND USE

TAX MANAGEMENT SERVICES, AND DISPENDING WITH BIDDING

PROCEDURES SPECIFIED IN CAMPBELL MUNICIPAL CODE (CMC)
SECTION 3.20.050
WHEREAS, Sales and Use Tax is estimated to be the City’s second largest revenue source in FY 2027; and
WHEREAS, the City has contracted with Hinderliter, De Llamas & Associates (HdL Companies) to provide Sales or Transaction and Use Tax Audit Services and Sales or Transaction and Use Tax Management Services since July 1, 2021; and
WHEREAS, HdL Companies has performed its related sales tax consulting, auditing, and recovery duties well; and
WHEREAS, With over 40 years of experience and serving over 700 cities, counties, and special districts, HdL Companies is an industry leader in sales tax consulting; and
WHEREAS, The City may dispense with bidding procedures when as stated in CMC Section 3.20.40(4), the City seeks the special services, consultation or advice in financial, economic, accounting, engineering, legal, administrative or other matters from persons specially trained, experienced and competent to perform the special services required; and
WHEREAS, HdL Companies would provide the City with financial and economic consultation as described in CMC Section 3.20.40(4); and WHEREAS, per CMC Section 3.20.40(8), City Council, by a majority vote, determines that it is in the best interest of the public to dispense with the requirements of Section 3.20.050, in which case the City Council shall prescribe the appropriate method of purchase; and
WHEREAS, Due to these reasons it would be in the City’s best interest to dispense with bidding procedures; and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Item 7.7
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Campbell does hereby approve an agreement, authorize the City Manager to execute a Five-Year Agreement execute an Agreement with Hinderliter, De Llamas & Associates (HdL Companies) to provide Sales or Transaction and Use Tax Audit Services and Sales or Transaction and Use Tax Management Services, and dispense with the bidding procedures specified in Campbell Municipal Code (CMC) Section 3.20.050.

PASSED AND ADOPTED this 7th day of July 2026 by the following roll call vote:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

APPROVED:
________________________
Daniel E. Furtado, Mayor
ATTEST:
__________________________
Andrea Sanders, City Clerk
Item 7.7
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CITY OF CAMPBELL

CONSULTANT SERVICES AGREEMENT
This Agreement is entered into at Campbell, California on the 1 st day of July, 2026, by
and between the CITY OF CAMPBELL (hereinafter referred to as "City") and Hinderliter, De Llamas & Associates (HdL Companies) (hereinafter referred to as "Consultant").

WHEREAS, City desires to obtain Sales or Transaction and Use Tax Audit Services and Sales or Transaction and Use Tax Management Services; and WHEREAS, Consultant represents that it has the expertise, means, and ability to perform said Sales or Transaction and Use Tax Audit Services and Sales or Transaction and Use Tax Management Services;
NOW, THEREFORE, in consideration of each other's mutual promises, Consultant and City agree as follows:

1. DUTIES OF CONSULTANT

1.1 Consultant agrees to perform services as set forth in Exhibit A - Scope of Services, attached hereto and incorporated herein by reference, and which shall be interpreted together and in harmony with this Agreement. In the event of any conflict between Exhibit A and this Agreement, this Agreement shall govern, control, and take precedence.

1.2 Consultant’s project manager will meet with the City’s project coordinator prior to commencement of the project to establish a clear understanding of the working relationships, authorities, and management philosophy of City as it relates to this Agreement.

1.3 Consultant, working with the City, will gather available existing information concerning the project, and shall review documents as necessary for compliance with the project’s objectives.

1.4 In performance of this Agreement by Consultant, time will be of the essence.

1.5 Notwithstanding Section 1.4, Consultant shall not be responsible for delay caused by activities or factors beyond Consultant’s reasonable control, including delays or by reason of strikes, work slow-downs or stoppages, or acts of God.

1.6 Consultant agrees to perform this Agreement in accordance with the highest degree of skill and expertise exercised by members of Consultant’s profession working on similar projects under similar circumstances.

1.7 Consultant shall cooperate in good faith with City in all aspects of the performance of this Agreement.

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1.8 In the course of the performance of this Agreement, Consultant shall act in the City’s best interest as it relates to the project.

1.9 All activities of Consultant, its employees, subcontractors and/or agents will be carried out in compliance with all applicable federal, state, and local laws and regulations.

1.10 The designated project manager for Consultant shall be Ken Nordhoff. The Consultant’s project manager shall have all the necessary authority to direct technical and professional work within the scope of the Agreement and shall serve as the principal point of contact with the City and the City’s project coordinator. The authorized principal of Consultant executing this Agreement for the Consultant shall have authority to make decisions regarding changes in services, termination and other matters related to the performance of this agreement on behalf of Consultant.

1.11 The Consultant (and its employees, agents, representatives, and subconsultants), in the performance of this Agreement, shall act in an independent capacity and not as officers or officials or employees or agents of the City. The City shall not direct the work and means for accomplishment of the services and work to be performed hereunder. The City, however, retains the right to require that work performed by Consultant meet specific standards consistent with the requirements of this Agreement without regard to the manner and means of accomplishment thereof. Subcontractors shall assume all of the rights, obligations and liabilities, applicable to it as an independent contractor hereunder. Consultant represents and warrants that it (i) is fully experienced and properly qualified to perform the class of work and services provided for herein, (ii) has the financial capability and shall finance its own operations required for the performance of the work and services and (iii) is properly equipped and organized to perform the work and services in a competent, timely and proper manner in accordance with the requirements of this Agreement. Consultant agrees to comply with AB5, codified at Labor Code section 2750.3, and shall indemnify, defend and hold harmless the City, its officers, officials, directors, agents representatives, volunteers, and employees against any claim or liability, including attorneys’ fees and costs, arising in any manner related to this Agreement that an employee, agent or others under Consultant’s supervision or control was misclassified.

1.12 This Agreement contains provisions that permit mutually acceptable changes in the scope, character or complexity of the work if such changes become desirable or necessary as the work progresses. Adjustments to the basis of payment and to the time for performance of the work, if any, shall be established by a written contract amendment (approved and executed by the City) to accommodate the changes in work.

2. DUTIES OF CITY

2.1 City shall furnish to Consultant all available and pertinent data and information requested by Consultant to facilitate the preparation of the documents called for in this Agreement. Consultant shall be entitled to reasonably rely on accuracy and completeness of such information, provided that Consultant shall make any additional investigation reasonably necessary to confirm such information and provide City prompt written notice of any known or discovered defects in such data and information.

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2.2 City shall provide contract administration services. City shall notify Consultant of required administrative procedures and shall name representatives, if any, authorized to act in its behalf.

2.3 City shall review documents submitted by Consultant and shall render decisions pertaining thereto as promptly as reasonably possible.

3. COMPENSATION

3.1 For the full performance of the services described herein by Consultant, City agrees to compensate Consultant for all services and direct costs associated with the performance of the project in an amount not to exceed 18% of all new sales and use tax revenue received by the City as a result of audit and recovery work performed by the Consultant, 25% of the initial amount of new transactions or use tax revenue received by the City as a result of audit and recovery work performed by Consultant related to Measure “K” (2024), $883 per month for sales and use tax management services, and $310 per month for the transaction district tax (Measure “K” 2024) reports, as follows. Consultant shall increase the non-hourly monthly Fees established above once a year with reference to the 12-month percent change in the most recently published annual Consumer Price Index for All Urban Consumers (CPI-U), as reported by the U.S. Bureau of Labor Statistics (the “CPI Change”):
a. Once each quarter, Consultant shall submit for payment by City, an itemized invoice for services performed during the previous billing period. The invoice shall describe the services rendered and the title of the item of work, and shall list labor hours by personnel classification.

Said invoice shall be based on all labor and direct expense charges made for work performed on the project. Labor charges shall be in accordance with the fee schedule found in Exhibit A of this Agreement. City shall pay Consultant for services rendered and approved by the City within 30 days from the date the itemized invoice is received by the City, subject to the maximum not to exceed amount specified above and the City’s right to object. Invoices are due and payable upon receipt. Interest will begin to accrue on the thirty-first (31st) day following the invoice date on all unpaid balances at a rate of one and one-half percent (1½%) per month, or the maximum rate permitted by law, whichever is less. Payments will first be credited to interest and then to principal. In the event that Client disputes an invoice, only that portion so disputed in good faith will be withheld from payment, and the undisputed portion must be timely paid. Interest will accrue on any disputed portion of the invoice not timely paid and will be payable immediately if the disputed invoice is resolved in favor of Consultant. If Client fails to fully pay an invoice within 30 days after the invoice date, Consultant may, after giving five (5) days’ prior written notice to Client, suspend the rendering of Services under this Agreement until said invoice is paid in full, together with all interest that has accrued thereon. In the event of such a suspension of Services, Consultant will have no liability to Client for any delays or damages arising therefrom.
b. Direct costs are those outside costs incurred on or directly for the project, and substantiated with invoices for the charges. Direct expenses include printing, reproduction, and delivery charges.

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3.2 If Consultant incurs other costs which are not specifically covered by the terms of this Agreement, but which are necessary for performance of Consultant’s duties, City may approve payment for said costs if authorized in writing by the City in advance.

3.3 City may order changes in the scope or character of services in writing, including decreasing the amount of Consultant’s services. In the event that the work is decreased, Consultant is entitled to full compensation for all services performed and expenses incurred prior to receipt of notice of change. Under no conditions shall Consultant make any changes to the work, either as additions or deductions, without the prior written order of the City. In the event, that the City determines that a change to the work or services from that specified in this Agreement is required, the contract time and/or actual costs reimbursable by the City for the project may be adjusted by contract amendment or change order to accommodate the changed work. The maximum not to exceed total amount specified in this Article 3 (Compensation) shall not be exceeded, unless authorized by written contract amendment or change order, approved and executed by the City. Consultant shall obtain prior written approval for a revised fee schedule from the City before exceeding such fee schedule. Only City’s authorized representative(s) is authorized to approve changes to this Agreement on behalf of City.

3.4 In no event, will the Consultant be reimbursed for any costs or expenses at any rates that exceed the rates for set forth in the fee schedule found in Exhibit A.

3.5 Consultant agrees that the payments to Consultant specified in this Article 3 (Compensation) will constitute full and complete compensation for all obligations assumed by Consultant under this Agreement. Where conflicts regarding compensation may occur, the provisions of this section apply.

4. SUBCONSULTANTS

4.1 Consultant may not subcontract any services required under this Agreement without the prior written consent of the City.

4.2 Consultant shall be responsible to City for the performance of any and all subconsultants who perform work under this contract, and any acts of negligence or misconduct on their part. Consultant is solely responsible for all payments due to subconsultants.

4.3 Consultant shall require and verify that all subcontractors maintain insurance meeting all of the requirements stated herein, including naming the City of Campbell, its officers, officials, directors, agents representatives, volunteers, and employees as additional insureds. Any modification to the insurance requirements for subcontractors must be agreed to by the City in writing.

4.4 If at any time, the City determines any subcontractor is incompetent or unqualified, Consultant will be notified and will be expected to immediately cancel the subcontract.

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5. OWNERSHIP OF DOCUMENTS AND MATERIALS
All original drawings, documents, papers, data, materials, photographs, negatives and other work products prepared by the Consultant and/or its subconsultants in the performance of the services encompassed in this Agreement (whether in printed or electronic format) (“project-related documents and materials”) shall be the property of the City and may be used on this project without the consent of the Consultant or its subcontractors. City acknowledges that such drawings, documents, and other items are instruments of professional services intended for use only on the subject project. Consultant agrees that all copyrights which arise from creation of the Project-related documents and materials pursuant to this Agreement shall be vested in the City and waives and relinquishes all claims to copyright or other intellectual property rights in favor of the City. Any project-related documents and materials related to this Agreement shall be confidential, not to be used by the Consultant on other projects or disclosed to any third party, except by agreement in writing by the City, or except as otherwise provided herein. Upon the completion or termination of this Agreement for any reason, the City shall be entitled to receive, and Consultant shall promptly provide to the City upon request, all finished and unfinished project-related documents and materials, produced or gathered by or on behalf of Consultant that are in Consultant’s possession, custody or control. Consultant may retain copies of said documents and materials for its files. In the event of termination, any dispute regarding compensation or damages shall not hinder, prevent, or otherwise impact the City’s right to promptly receive and use such documents and materials which are the sole and exclusive property of the City.

6. TERMINATION

6.1 This Agreement may be terminated by either party for cause upon not less than forty-five (45) days’ prior written notice given to and received by the other party, if the other party has materially breached this Agreement through no fault of the notifying party and fails to (i) commence correction of such material breach within thirty (30) days of receipt of the abovereferenced written notice and (ii) diligently complete the correction thereafter. In addition, either party may terminate this Agreement without cause upon not less than one hundred twenty (120) days’ prior written notice to the other party.

6.2 In the event of such termination, Consultant shall be compensated for all work and services performed to the point of termination in accordance with the payment provisions set forth in Section 3.1, unless the termination is for cause, in which event Consultant need be compensated only to the extent required by law.

6.3 Upon notice of termination by City, the Consultant will immediately act to not incur any additional obligations, costs or expenses, except as may be reasonably necessary to terminate its activities. All finished or unfinished work or documents procured or produced under the Agreement will become property of the City upon the termination date. In the event of Consultant’s failure to perform pursuant to the Agreement, the City reserves the right to obtain services elsewhere and Consultant will be liable for the difference between the prices set forth in the terminated Agreement and the actual cost to the City. Termination of the Agreement pursuant to this paragraph shall not relieve the Consultant of any liability to City for additional costs, Item 7.7
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expenses, or damages sustained by City due to failure of the Consultant to perform pursuant to the Agreement. City may withhold any payments to Consultant for the purpose of set off until such time as the exact amount of damages due City from Consultant is determined. After the effective date of termination, Consultant will have no further claims against the City under the Agreement. No other compensation will be payable for anticipated profit on unperformed services.

7. AUDIT AND INSPECTION
Consultant shall permit authorized representatives of City to inspect and audit all data and records relating to its performance under this Agreement for a period of three years following acceptance of the final study.

8. EQUAL EMPLOYMENT OPPORTUNITY
Consultant agrees to refrain from discriminatory employment practices on the basis of race, religious creed, color, sex, national origin, handicap, sexual orientation, marital status, medical condition, disability, ancestry, organizational affiliation, military or veteran status, or any other consideration made unlawful by local, State or Federal law, of any employee of, or applicant for employment with, such Consultant or subcontractor. City requires Consultant to comply with all applicable Federal and State and local equal employment opportunity laws and regulations.

9. INSURANCE AND INDEMNIFICATION

9.1 With respect to any design professional services provided by Consultant, the Consultant agrees to indemnify, and hold harmless the City, its officers, and employees to the fullest extent allowed by law from any and all claims, actions, causes of action, damages, liabilities and losses, that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant, except for any claims, actions, causes of action, losses, damages or liabilities proximately caused by the sole negligence or willful misconduct of City. City shall not be liable for acts of Consultant in performing services described herein. Notwithstanding anything in this paragraph to the contrary, any defense costs charged to the design professional under this paragraph shall not exceed the design professional’s proportionate percentage of fault, except:
a. That in the event one or more defendants is unable to pay its share of defense costs due to bankruptcy or dissolution of the business, the design professional shall meet and confer with the other parties regarding unpaid defense costs in good faith effort to agree on the allocation of those costs amongst the parties; and
b. Where a project-specific general liability policy ensures all project participants for general liability exposures on a primary basis and also covers all design professionals for their legal liability arising out of their professional services on a primary basis, then there shall be no limitation on the design professional's duty to provide a defense and cover the City's cost of defense.

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With respect to all matters other than those covered by the foregoing paragraph, Consultant agrees to indemnify, defend (with counsel reasonably satisfactory to the City) and hold harmless the City, its officers, officials, directors, agents representatives, volunteers, and employees to the fullest extent allowed by law from and against any and all claims, actions, causes of action, losses, damages, liabilities and costs of every nature, including attorneys’ fees and costs (collectively, “Losses”) including but not limited to all claims, actions, causes of action, losses, damages, liabilities for property damage, bodily injury, or death, and all costs of defending any claim, caused by or arising out of, or alleged to have been caused by or arise out of, in whole or in part, Consultant’s performance under this Agreement, except for any claims, actions, causes of action, losses, damages, costs or liabilities proximately caused by the sole negligence or willful misconduct of City. City shall not be liable for acts of Consultant in performing services described herein.

In no event shall this section be construed to require indemnification by the Consultant to a greater extent than permitted under the public policy of the State of California; and in the event that this contract is subject to California Civil Code section 2782(b), the foregoing indemnity provisions shall not apply to any liability for the active negligence of the City.

The defense and indemnity provisions obligations of this Agreement are undertaken in addition to, and shall not in any way be limited by the insurance obligations contained in this Agreement.

The foregoing indemnity provisions are intended to fully allocate the parties’ risk of liability to third-parties; and there shall be no rights to indemnity or contribution, in law or equity or otherwise between the parties that are not set forth in this section. Consultant waives all rights to subrogation for any matters covered by the provisions of this section. Consultant’s responsibility for such defense and indemnity obligations as set forth in this section shall survive the termination or completion of this Agreement for the full period of time allowed by law.

9.2 Consultant shall maintain insurance conforming to the following specifications to the fullest amount allowed by law for a minimum of three (3) years following the termination or completion of this Agreement:

A. Types of Coverage
The policies shall afford the following types of coverage:

1. Commercial General Liability;

2. Automotive;

3. Workers’ Compensation and Employer Liability; and

4. Professional Liability and/or Errors and Omissions
B. Minimum Scope of Insurance
Coverage shall be at least as broad as:

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1. For Commercial General Liability: Insurance Services Office (ISO) CGL Form 00 01 11 85; and

2. For Automotive Liability: ISO CA 00 01 06 92 including symbol 1(any auto); and

3. For Workers’ Compensation: insurance as required by the Labor Code of the State of California and Employer's Liability insurance; and

4. For Professional Liability and/or Errors and Omissions: insurance covering negligence committed by or on behalf of Consultant in rendering services to City.

C. Minimum Limits of Insurance
Consultant shall maintain limits no less than:

1. General Liability: $1,000,000 combined single limit per occurrence for bodily, personal injury and property damage. If Commercial General Liability Insurance or other form with a general aggregate limit is used, either the general aggregate limit shall apply separately to this project/location or the general aggregate limit shall be twice the required occurrence limit.

2. Automobile Liability: $1,000,000 combined single limit per accident for bodily injury and property damage.

3. Workers’ Compensation and Employer's Liability: Workers’ Compensation limits as required by the Labor Code of the State of California and Employer's Liability limits of $1,000,000 per accident. The Worker’s Compensation policy must be endorsed with a waiver of subrogation in favor of the City for all work performed by the Consultant and its employees.

4. Professional Liability and/or Errors and Omissions: $1,000,000 per claim and $2,000,000 in the annual aggregate.

The limits of insurance required in this Agreement may be satisfied by a combination of primary and umbrella or excess insurance. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non-contributory basis for the benefit of City (as agreed to in this Agreement) before the City’s own insurance or self-insurance shall be called upon to protect it as a named insured.

D. Deductible and Self-Insured Retention
Any deductibles or self-insured retention must be declared to and approved by the City, and shall not reduce the limits of liability. At the option of the City, either: the insurer shall reduce or eliminate such deductibles or self-insured retention as respects the Item 7.7
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City, its agents, officers, attorneys, employees, officials and volunteers; or the Consultant shall procure a bond guaranteeing payment of losses related to investigations, claim administration, and defense expenses. Policies containing any self-insured retention provision shall provide or be endorsed to provide that the self-insured retention may be satisfied by either the named insured or the City.

E. Other Insurance Provisions
The policies are to contain, or be endorsed to contain, the following provisions:

1. General Liability and Automobile Liability Coverage:
a. The City, its agents, officers, attorneys, employees, officials and volunteers are to be covered as additional insureds as respects: liability arising out of this Agreement performed by or on behalf of the Consultant, products and completed operations of the Consultant, premises owned, occupied or used by the Consultant, or automobiles owned, leased, hired or borrowed by the Consultant. It is a requirement of this Agreement that any available insurance proceeds broader than or in excess of the specified minimum insurance coverage requirements and/or limits set forth in this Agreement shall be available to the City as an additional insured. Furthermore, the requirements for coverage and limits shall be (1) the minimum coverage limits specified in this Agreement, or (2) the broader coverage and maximum limits of coverage of any insurance policy or proceeds available to the named insured, whichever is affords greater coverage. b. The Consultant's insurance coverage shall be primary insurance as respects the City, its agents, officers, attorneys, employees, officials and volunteers. Any insurance or self-insurance maintained by the City, its agents, officers, attorneys, employees, officials and volunteers shall be excess of the Consultant's insurance and shall not contribute with it. c. Any failure to comply with reporting provisions of the policies shall not affect coverage provided to the City, its agents, officers, attorneys, employees, officials, and volunteers.
d. The Consultant's insurance shall apply separately to each insured against whom claim is made or suit is brought except with respect to the limits of the insurer's liability.

2. Workers’ Compensation and Employer’s Liability Coverage: The insurer shall agree to waive all rights of subrogation against the City, its agents, officers, attorneys, employees, officials, and volunteers for losses arising from work performed by the Consultant for the City.

3. All Coverages: Any unintentional failure to comply with reporting provisions of the policies shall not affect coverage provided to the City; and unless otherwise approved by the City, each insurance policy required Item 7.7
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by this clause shall be endorsed to state that coverage shall not be canceled by either party, except after thirty (30) days prior written notice by regular mail has been given to the City, or ten (10) days for cancellation for nonpayment of premium.

F. Suspension or Cancellation
If any of the coverages required by this Agreement should be suspended, voided, cancelled or reduced in coverage during the term of this Agreement, Consultant shall immediately notify City and replace such coverage with another policy meeting the requirements of this Agreement.

G. Subcontractors
Consultant agrees that any and all contracts with subcontractors for performance of any matter under this Agreement shall require the subcontractors to comply with the same indemnity and insurance requirements set forth in this Agreement to the extent that they apply to the scope of the subcontractors’ work. Subcontractors are to be bound to contractor and to City in the same manner and to the same extent as the Consultant is bound to City under this Agreement.

Subcontractors shall further agree to include these same provisions with any sub-subcontractor.

A copy of this Agreement will be furnished to the subcontractor on request. The Consultant shall require all subcontractors to provide a valid certificate of insurance and the required endorsements included in the Agreement prior to commencing any work, and will provide proof of compliance to the City.

H. Acceptability of Insurers
Without limiting Consultant's indemnification provided hereunder, the policies of insurance listed in Article 9.2 of this Agreement are to be issued by an issuer with a current A.M. Best Rating of A:V and who is authorized to transact business in the State of California, unless otherwise approved by the City.

I. Verification of Coverage
Consultant shall furnish the City with endorsements and certificates of insurance evidencing coverage required by this clause. The certificates for each insurance policy are to be signed by a person authorized by that insurer to bind coverage on its behalf. The certificates are to be on forms acceptable to the City. Where required by statue, forms approved by the Insurance Commissioner are to be submitted. All certificates are to be received and approved by the City before work commences.

J. Special Risks/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 and provide notice to Consultant.

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10. MISCELLANEOUS

10.1 This Agreement shall be binding on the heirs, executors, assigns and successors of Consultant.

10.2 Neither party may assign this Agreement, or any portion hereof, without the prior written consent of the other.

10.3 This Agreement shall not be construed to alter, affect, or waive any lien or stop notice rights, which Consultant may have for the performance of services pursuant to this Agreement.

10.4 Neither party’s waiver of any term, condition or covenant, or breach of any term, condition or covenant shall be construed as the waiver of any other term, condition or covenant or waiver of the breach of any other term, condition or covenant.

10.5 This Agreement contains the entire Agreement between City and Consultant relating to the project and the provision of services to the project. Any prior agreements, promises, negotiations, or representations not expressly set forth in this Agreement are of no force or effect. Subsequent modifications to this Agreement shall be in writing and signed by both City and Consultant.

10.6 If any term, condition or covenant of this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions of this Agreement shall be valid and binding on City and Consultant.

10.7 This Agreement shall be governed and construed in accordance with the laws of the State of California.

10.8 All changes or amendments to this Agreement must be in writing and approved by all parties.

10.9 The initial contract term shall commence upon execution of the contract by the City and shall be for a five (5) year period, unless terminated sooner in accordance with the contract. Any extension of the Agreement shall be mutually agreed upon in writing and shall require an amendment to the Agreement signed by both parties.

10.10 Consultant owes the City a duty of undivided loyalty in performing the work and services under this Agreement, including, but not limited to, the obligation to refrain from having economic interests and/or participating in activities that conflict with the City’s interests in respect to the work and/or services and project. The Consultant shall list current clients who may have a financial interest in the outcome of this Agreement. The Consultant hereby certifies that it does not now have, nor shall it acquire any financial or business interest that would conflict with the performance of services under this agreement. Consultant shall not make or participate in making or in any way attempt to use Consultant’s position to influence a governmental decision in which Consultant knows or has reason to know Consultant has a direct or indirect financial interest other than the compensation promised by this Agreement.

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Consultant will immediately advise the City if Consultant learns of a financial interest of Consultant's during the term of this Agreement.

10.11 City is a public agency subject to the disclosure requirements of the California Public Records Act (“CPRA”). If Consultant’s proprietary information is contained in documents or information submitted to City, and Consultant claims that such information falls within one or more CPRA exemptions, Consultant must clearly mark such information “Confidential and Proprietary,” and identify the specific lines containing the information. In the event of a request for such information, City will make best efforts to provide notice to Consultant prior to such disclosure. If Consultant contends that any documents are exempt from the CPRA and wishes to prevent disclosure, it is required to obtain a protective order, injunctive relief or other appropriate remedy from a court of law in Santa Clara County before the City is required to respond to the CPRA request. If Consultant fails to obtain such remedy within the time the City is required to respond to the CPRA request, City may disclose the requested information without any liability to Consultant. Consultant further agrees that it shall defend, indemnify and hold City harmless against any claim, action or litigation (including but not limited to all judgments, costs, and attorney’s fees) that may result from denial by City of a CPRA request for information arising from any representation, or any action (or inaction), by the Consultant.

10.12 Neither party hereto shall be considered in default in the performance of its obligation hereunder to the extent that the performance of any such obligation is prevented or delayed by an act of God, natural disaster, pandemic, acts of terrorism, war, or other peril, which is beyond the reasonable control of the affected party and without the negligence of the respective Parties. Each party hereto shall give notice promptly to the other of the nature and extent of any Force Majeure claimed to delay, hinder or prevent performance of the services under this Agreement. Each Party will, however, make all reasonable efforts to remove or eliminate such a cause of delay or default and will, upon the cessation of the cause, diligently pursue performance of its obligations in this Agreement. In the event either party is prevented or delayed in the performance of its respective obligation by reason of such Force Majeure, there may be an equitable adjustment of the schedule and Consultant compensation based on City’s sole discretion.

10.13 Except as City may specify in writing, Consultant shall have no authority, express or implied, to act on behalf of City in any capacity whatsoever as an agent. Consultant shall have no authority, express or implied, pursuant to this Agreement to bind City to any obligation whatsoever.

10.14 Consultant warrants that Consultant, its subcontractors and/or agents (if any) has/have complied with any and all federal, state, and local licensing requirements

10.15 Each party acknowledges that it has reviewed this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement.

10.16 The signatories to this Agreement warrant and represent that each is authorized to execute this Agreement and that their respective signatures serve to legally obligate their Item 7.7
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respective representatives, agents, successors and assigns to comply with the provisions of this Agreement.

10.17 This Agreement is entered into, and to be performed in Santa Clara County, California, and any action arising out of or related to this Agreement shall be maintained in a court of appropriate jurisdiction in Santa Clara County, California.

10.18 This Agreement may be executed in counterparts which shall, in the aggregate, be deemed an original but all of which, together, shall constitute one and the same instrument. A scanned, electronic, facsimile or other copy of a party’s signature shall be accepted and valid as an original.

11. NOTICES
Notices required under this Agreement may be delivered by first class mail addressed to the appropriate party at one of the following addresses:

CITY: City of Campbell
Attention: Will Fuentes, Finance Director
70 North First Street
Campbell, CA 95008
CONSULTANT: HdL Companies
Attention: Andrew Nickerson, President
120 S. State College Blvd., Suite 200
Brea, CA 92821
[SIGNATURES ON FOLLOWING PAGE]
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Having read and understood the foregoing Agreement, the undersigned parties agree to be bound hereby:

CONSULTANT
By
Andrew Nickerson
Title President/CEO

CITY OF CAMPBELL
By
Brian Loventhal
Title City Manager
Approved as to Form
______________________________
William Seligman, City Attorney
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Exhibit A - Scope of Services, Fees, and Miscellaneous Terms

SCOPE OF SERVICES
The Consultant shall perform the following services (collectively, the “Services”):

ESSENTIAL SERVICES – Sales and Use Tax

1. Sales and Use Tax and Economic Analysis/Reports

1.1. Establish a special database with California Department of Tax and Fee Administration (“CDTFA”) registration data for businesses within applicable district boundaries holding seller’s permit accounts.

1.2. Consultant shall make available to CITY the HdL proprietary software program and database containing all applicable registration and quarterly allocation information for CITY business outlets registered with the Department of Tax and Fee Administration.

The database will be updated quarterly.

1.3. Consultant shall provide updated reports each quarter identifying changes in allocation totals by individual businesses, business groups and by categories. Quarterly aberrations due to State audits, fund transfers, and receivables, along with late or double payments, will also be identified.

1.4. Following each calendar quarter shall provide a summary analysis for City to share with Council Members, Chamber of Commerce, other economic development interest groups and the public that analyze City’s sales tax trends by major groups without disclosing confidential individual tax records.

1.5. Provide periodic updated reports endeavoring to identify and assist with budget forecasting including (i) changes in allocation totals by individual businesses, business groups and categories, and (ii) aberrations due to State audits, fund transfers, and receivables, along with late or double payments.

1.6. Consultant shall provide a presentation led by an HdL Sales Tax Principal discussing latest sales tax results, emerging retail trends, business retention needs, leveraging of economic clusters and reviewing successes in client jurisdictions with similar characteristics. This presentation will occur two calendar quarters per year.

2. Allocation and Audit Recovery Services

2.1. Conduct (when mutually agreed with City) initial and on-going sales and use tax audits of businesses to help identify and correct allocation errors, and to proactively affect favorable registration, reporting or formula changes thereby generating previously unrealized sales and use tax income for the City and/or recovering misallocated tax from registered taxpayers. Common errors that will be monitored and corrected include but are not limited to: transposition errors resulting in misallocations; erroneous consolidation of multiple outlets; misreporting of “point of sale” to the wrong location; delays in reporting new outlets; misallocating use tax payments to the allocation pools or wrong jurisdiction; and erroneous fund transfers and adjustments.

2.2. Initiate contacts with sales, management and accounting officials in companies that have businesses where a probability of error exists to endeavor to help verify whether current Item 7.7
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tax receipts accurately reflect the local sales activity. Such contacts will be conducted in a professional and courteous manner.

2.3. Prepare and submit to the CDTFA information for the purpose of correcting any identified allocation errors, and follow-up with individual businesses and the CDTFA to promote recovery by the City of back or prospective quarterly payments that may be owing.

2.4. If, during the course of its audit, Consultant finds businesses located in the City’s jurisdiction that are properly reporting sales and use tax but have the potential for modifying their operation to provide an even greater share to City, Consultant may so advise City and collaborate with those businesses and City to encourage such changes.

ESSENTIAL SERVICES – Transactions and Use Tax

3. Transactions Tax and Economic Analysis/Reports

3.1. Consultant shall establish a database containing all applicable Department of Tax and Fee Administration (CDTFA) registration data for each business within the Measure “K” District boundaries holding a seller’s permit account. Said database shall also identify the quarterly transactions and use tax allocations under each account for the most current and previous quarters where available.

3.2. Consultant shall make available to CITY the HdL proprietary software program and Measure “K” database containing all applicable registration and quarterly allocation information for CITY business outlets registered with the Department of Tax and Fee Administration. The database will be updated quarterly.

3.3. Consultant shall provide updated reports each quarter identifying changes in allocation totals by individual businesses, business groups and by categories. Quarterly aberrations due to State audits, fund transfers, and receivables, along with late or double payments, will also be identified.

3.4. Following each calendar quarter shall provide a summary analysis for City to share with Council Members, Chamber of Commerce, other economic development interest groups and the public that analyze City’s sales tax trends by major groups without disclosing confidential individual tax records.

3.5. Provide periodic updated reports endeavoring to identify and assist with budget forecasting including (i) changes in allocation totals by individual businesses, business groups and categories, and (ii) aberrations due to State audits, fund transfers, and receivables, along with late or double payments.

3.6. Consultant shall provide a presentation led by an HdL Sales Tax Principal discussing latest sales tax results, emerging retail trends, business retention needs, leveraging of economic clusters and reviewing successes in client jurisdictions with similar characteristics. This presentation will occur two calendar quarters per year.

4. Deficiency/Allocation Reviews and Recovery

4.1. Consultant shall conduct on-going reviews to identify and correct unreported transactions and tax payments and distribution errors thereby generating previously unrealized revenue for the City. Reviews shall include:

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4.1.1. Comparison of county-wide local tax allocations to transactions tax for brick and mortar stores and other cash register-based businesses, where clearly all transactions are conducted on-site within the Measure “K” City boundaries, and therefore subject to transactions tax.

4.1.2. Review of any significant one-time use tax allocations to ensure that there is corresponding transaction tax payments for taxpayers with nexus within the City boundaries.

4.1.3. Review of state-wide transactions tax allocations and patterns to identify any obvious errors and omissions.

4.1.4. Identification and follow-up with any potentially large purchasers of supplies and equipment (e.g. hospitals, universities, manufacturing plants, agricultural operations, refineries) to ensure that their major vendors are properly reporting corresponding transactions tax payments to the Measure “K” Transactions Tax District.

4.2. Consultant will initiate, where the probability of an error exists, contacts with the appropriate taxpayer management and accounting officials to verify whether current tax receipts accurately reflect the local sales activity. Such contacts will be conducted in a professional and courteous manner so as to enhance CITY’s relations with the business community.

4.3. Consultant shall prepare and submit to the Department of Tax and Fee Administration all information necessary to correct any allocation errors and deficiencies that are identified and shall follow-up with the individual businesses and the California Department of Tax and Fee Administration to ensure that all back quarter payments due the CITY are recovered.

5. Consulting and Other Optional Services
Consultant may from time to time in its sole discretion, consult with City’s staff, including without limitation, regarding (i) technical questions and other issues related to sales, use and transactions tax, (ii) utilization of reports to enhance business license collection efforts, (iii) sales tax projections for proposed annexations, economic development projects and budget planning, (iv) negotiating/review of tax sharing agreements, (v) establishing purchasing corporations, (vi) meeting with taxpayers to encourage self-assessment of tax obligations, and (vii) other sales, use or transactions tax revenue-related matters.

FEES – Sales and Use Tax Services

6. Sales and Use Tax and Economic Analysis/ Reports

6.1. Fees for performing the sales tax and economic analysis Services as described above shall initially be $883 per month, commencing with the month of the Effective Date (hereafter referred to as “monthly fee”). The monthly fee shall be invoiced quarterly in arrears, and shall be paid by City no later than 30 days after the invoice date.

6.2. Consultant will increase the non-hourly Fees established above once a year with reference to the 12-month percent change in the most recently published annual Consumer Price Index for All Urban Consumers (CPI-U), as reported by the U.S.

Bureau of Labor Statistics (the “CPI Change”).

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7. Allocation and Audit Recovery Services

7.1. Fees for performing the allocation and audit recovery Services described above shall be 18% of all new, increased and recovered sales and use tax revenue received by the City as a result, in whole or in part, of the allocation audit and recovery services (hereafter referred to as “audit fee”). The fee shall be paid notwithstanding any related City assistance, work in parallel, and/or incurrence of attorneys’ fees or other costs or expenses in connection, with the relevant Services.

7.2. The Fee described above include, without limitation, State fund transfers received for back quarter reallocations and monies received in the second eight (8) consecutive reporting quarters following completion of Consultant’s allocation audit and confirmation of the corrections by the CDTFA.

7.3. These Fees shall be paid by City upon Consultant’s submittal of evidence of Consultant’s relevant Services in support thereof, including, without limitation, copies of relevant communications between Consultant and the CDTFA and/or taxpayers.

FEES – Transactions Tax Services

8. Transactions Tax and Economic Analysis/Reports

8.1. Fees shall be paid $310 monthly billed quarterly for the transaction district tax reports that we include with the quarterly sales tax analyses. The monthly fee shall be invoiced quarterly in arrears and shall be paid by City no later than 30 days after the invoice date.

8.2. Consultant will increase the non-hourly Fees established above once a year with reference to the 12-month percent change in the most recently published annual Consumer Price Index for All Urban Consumers (CPI-U), as reported by the U.S.

Bureau of Labor Statistics (the “CPI Change”).

9. Allocation and Audit Recovery Services

9.1. Fees shall be paid 25% of the initial amount of new transactions or use tax revenue received by the City because of audit and recovery work performed by Consultant, (hereafter referred to as "audit fees"). New revenue shall not include any amounts determined and verified by City or Consultant to be increment attributable to causes other than Consultant’s work pursuant to this agreement. In the event, Consultant is responsible for an increase in the tax reported by businesses already properly making tax payments to the City, it shall be Consultant’s responsibility to separate and support the incremental amount attributable to its efforts prior to the application of the audit fee.

Said audit fees will apply to state fund transfers received for those specific quarters identified as being missing and/or deficient following completion of the audit by Consultant and confirmation of corrections by the California Department of Tax and Fee Administration but shall not apply prospectively to any future quarter. Consultant shall provide City with an itemized quarterly invoice showing all formula calculations and amounts due for audit fees.

ADDITIONAL TERMS – Sales, Use and Transactions Tax Services

10. Consulting and Other Optional Services
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10.1. Fees for performing other optional services are described below:

10.1.1. Fees for performing City Staff training, public representation, or technical seminars for elected officials shall be $3,000 for one-time service and $2,000 for recurring service

10.1.2. Fees for performing transactional tax ballot measure estimates shall be $2,600 per report.

10.1.3. On-site travel to the city shall be $2,600 plus any associated travel expenses per visit

10.1.4. Incremental non-core packet reporting shall be $2,600 for a one-time report and $700 for recurring reporting service

10.1.5. Any other consulting and optional Services not listed shall be based on the following initial hourly rates: (i) Principal - $325; (ii) Programmer - $295; (iii) Senior Analyst - $245; and (iv) Analyst - $195

11. General Provisions Relating to Fees

11.1. Fees for travel and lodging expenses will be invoiced at cost and applied to all meetings (including implementation, training, operations and support). Travel expenses only apply to out of scope travel and must therefore be pre-approved by City.

11.2. Fees will be invoiced monthly to City for Services performed during the prior month. To the extent that Consultant has commercially reasonable means to do so, Fees will be netted out of City’s monthly revenue disbursement.

12. Confidentiality Information
Section 7056 of the State of California Revenue and Taxation Code (“R&T Code”) specifically limits the disclosure of confidential taxpayer information contained in the records of the CDTFA.

Section 7056 specifies the conditions under which a city, county or district may authorize persons other than such city, county or district’s officers and employees to examine state sales and use tax records.

The following conditions specified in Section 7056-(b)(1) of the State of California R&T Code are hereby made part of this Agreement:

12.1. Consultant is authorized by this Agreement to examine sales, use or transactions and use tax records of the CDTFA provided to City pursuant to contract under the Bradley-Burns Uniform Local Sales and Use Tax Law R&T Code Section 7200 et.seq.

12.2. Consultant is required to disclose information contained in, or derived from, those sales or transactions and use tax records only to an officer or employee of City who is authorized by City resolution provided to the CDTFA to examine the information.

12.3. Consultant is prohibited from performing consulting services for a retailer (as defined in R&T Code Section 6015), during the term of this agreement.

12.4. Consultant is prohibited from retaining the information contained in or derived from those sales, use or transactions and use tax records after this agreement has expired.

Information obtained by examination of the CDTFA records shall be used only for purposes related to collection of local sales and use tax or for other governmental functions of the City as set forth by resolution adopted pursuant to Section 7056 (b) of Item 7.7
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the Revenue and Taxation Code. The resolution shall designate the Consultant as a person authorized to examine sales and use tax records and certify that this agreement meets the requirements set forth above and in Section 7056 (b), (1) of the Revenue and Taxation Code.

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City Council Report
DATE: July 7, 2026
TITLE: Resolution Approving the Revision of the Recreation Coordinator, Community Services Officer, and Street and Fleet Maintenance Supervisor Classification Specifications, and the Addition of a New Classification Specification for Lead Mechanic (Resolution/Roll Call Vote)
RECOMMENDED ACTION:

Adopt a resolution approving the revised classification specifications for Recreation Coordinator, Community Services Officer, and Street and Fleet Maintenance Supervisor, and a new classification specification for Lead Mechanic.

BACKGROUND
During the June 16, 2026, City Council meeting, the City Council approved the Fiscal Year 2027 (FY27) budget. As part of the budget, the following was approved:
reclassification of a Museum Collections Specialist to Recreation Coordinator; upgrade to the Community Services Officer classification; revision of the Street Maintenance Field Supervisor classification to Street and Fleet Maintenance Supervisor; and creation of the new classification of Lead Mechanic.

DISCUSSION
Recreation Coordinator
The Museum Collections Specialist classification is a singular classification. Through the budget process and a classification study, it was determined that this classification performs a similar scope and complexity of work as the Recreation Coordinator classification. To create better equity among similar classifications, the FY27 approved budget included a reclassification of the Museum Collections Specialist to Recreation Coordinator.

In order to address the addition of the Museum assignment to the Recreation Coordinator classification, a review and update to the Recreation Coordinator job specification was needed. The Recreation Coordinator job specification was also last reviewed and updated in 1997 and was overly broad. Staff took this opportunity to refine the job specification to be more detailed in the scope of work and qualifications needed for this position and updated the different divisions that this position could be assigned to, added more detail to the duties being performed without going out of the scope of the classification, and Item 7.8
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expanded on specific duties for certain assignments based on the specialized needs of the assignment. The minimum qualifications for the classification remain unchanged.

However, standard language was added in the “Knowledge” and “Abilities” sections, which brings the classification specification up to current standards that similar positions in neighboring agencies have.

No significant changes were made to the classification specification that increase the complexity or level of responsibility that is currently expected of the position. In addition, the update to the classification specification did not result in a change to the salary range.

Attached to this report are the proposed revised classification specification for Recreation Coordinator in both redline and final versions.

Community Services Officer
As part of the FY27 budget process, an upgrade to the Community Services Officer (CSO) classification was approved to add the duty of prisoner transport to the CSO classification and help relieve some of the time Police Officers spend processing and transporting prisoners. As such, the duties section was updated to reflect the additional task of prisoner transport and its related duties, and the minimum qualifications were updated to include the training requirements needed in order to perform prisoner transport.

Currently, there are two agencies with civilian roles that include prisoner transport, along with additional duties related to jailing. Based on a review of those classifications, their duties, requirements, and pay differentials among their departments, a 17% increase to the salary range for CSO was recommended and added to the FY27 budget.

Attached to this report are the proposed revised classification specification for Community Services Officer in both redline and final versions.

Street and Fleet Maintenance Supervisor
During the FY27 budget process, the Public Works Department reviewed their organizational structure and current classification needs. Through that process, it was determined that the administrative and supervisory duties previously performed by the vacant Equipment Maintenance Supervisor could be performed by another budgeted supervisor classification – the Street Maintenance Field Supervisor. As such, a reorganization of the division was approved and now reflects that the “Street and Fleet Maintenance Supervisor” will oversee both the Street section and Fleet section of the Public Works Department.

Specifically, administrative and supervisory duties of the Fleet section were added to the Street Maintenance Field Supervisor. Related and standard “Knowledge” and "Abilities” language was also added to the job specification. Lastly, the job specification for Street Maintenance Field Supervisor was last reviewed and updated in 2007 and staff took this opportunity to add more detail in the scope of work and qualifications needed for this position, as well as a requirement of one year of experience in a lead capacity.

The update to the classification specification did not result in a change to the salary range.

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Attached to this report are the proposed revised classification specification for Street and Fleet Maintenance Supervisor in both redline and final versions.

Lead Mechanic
During the FY27 budget process, the Public Works Department reviewed their organizational structure and current organizational needs. Through that process, it was determined that the department would be better served with a Street and Fleet Maintenance Supervisor handling the administrative and supervisory duties of the vacant Equipment Maintenance Supervisor classification, and with the addition of a new Lead Mechanic position that could focus on the more complex fleet maintenance duties.

This new position would serve as a lead to the two other budgeted Mechanic I/II’s, have the ability to perform fleet maintenance of a higher complexity, assist with the maintenance scheduling and assignments, and assist with the recordkeeping and supply maintenance.

Attached to this report is the proposed new classification specification for Lead Mechanic position.

FISCAL IMPACT
The fiscal impacts were already anticipated when the Fiscal Year 2027 budget was approved. Approval of the revised and new job specifications will not have an additional fiscal impact.

ALTERNATIVES

1. Do not approve the attached resolution updating the Recreation Coordinator, Community Services Officer, and Street and Fleet Maintenance Supervisor classification specifications, and approving the new classification specification for Lead Mechanic.

2. Direct staff to take other action.

PREPARED BY: Ada Chang, Human Resources Manager
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Report Approval Details
Document
Title:
2026.07.07 Budget Classification Updates.docx
Attachments: Resolution - Revised Job Specifications for Recreation Coordinator, Community Services Officer, and Street and Fleet Maintenance Supervisor and New Specification for Lead Mechanic.docx Recreation Program Coordinator Classification Specification - Redline.pdf
Recreation Program Coordinator Classification Specification - Final.pdf
Community Services Officer Classification Specification - Redline.pdf
Community Services Officer Classification Specification - Final.pdf Street and Fleet Maintenance Supervisor Classification Specification - Redline.pdf
Street and Fleet Maintenance Supervisor Final.pdf
Lead Mechanic Classification Specification.pdf
Final Approval
Date:

June 30, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Angelique Gaeta, Assistant City Manager
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RESOLUTION NO. __________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL

APPROVING THE REVISED CLASSIFICATION SPECIFICATIONS FOR RECREATION

COORDINATOR, COMMUNITY SERVICES OFFICER, STREET AND FLEET

MAINTENANCE SUPERVISOR, AND NEW CLASSIFICATION SPECIFICATION FOR

LEAD MECHANIC
WHEREAS, adjustments to the classifications of Recreation Coordinator, Community Services Officer, and Street and Fleet Maintenance Supervisor were approved by the City Council on June 16, 2026 in the Fiscal Year 2027 budget; and WHEREAS, the new classification of Lead Mechanic was approved by the City Council on June 16, 2026 in the Fiscal Year 2027 budget; and
WHEREAS, the City of Campbell needs to update the classification specifications for Recreation Coordinator, Community Services Officer, and Street and Fleet Maintenance Supervisor, and create a new classification specification for Lead Mechanic; and WHEREAS, The City Manager is required by Section 2.12.030 of the Campbell Municipal code to prepare and submit to the City Council recommendations for the reorganization of offices, departments, and positions which are considered to be in the best interest of efficient, effective and economical conduct of the municipal services provided by the City; and
WHEREAS, Section 3.0 of the Personnel Rules and Regulations requires the Personnel Officer to maintain a classification plan including classification specifications; NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Campbell does hereby approve the revised classification specifications for Recreation Coordinator, Community Services Officer, and Street and Fleet Maintenance Supervisor, and the new classification specification for Lead Mechanic, attached hereto.

PASSED AND ADOPTED this 7th day of July 2026, by the following roll call vote:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

APPROVED:

Daniel E. Furtado, Mayor
ATTEST:

Andrea Sanders, City Clerk
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CITY OF CAMPBELL

RECREATION PROGRAM COORDINATOR

DEFINITION
Under general supervision, to plans, and organizes, and coordinates a variety of services, programs and activities related to assigned divisions (Youth, TeensEnrichment Classes, PreSchool, Day Camp, Community Center, Senior Services, Sports, Aquatics, and or Fitness, and/or Museum) of the Recreation and Community Services Department; and to do related work as required.

TYPICAL DUTIES
Typical duties will include, but are not limited to:
• Plans, schedules, implements, organizes, and evaluates a variety of division programs, activities, or special events which may include special interest classes, recreation programs, special events, trips and excursions, holiday events, aquatics programs, Community Center rentals, field allocations, fitness activities, sports leagues Youth Commission and summer camps;
• May recruit, select, train, supervise and evaluate temporary part- time and seasonal personnel and volunteers; schedules use of facilities and assists with registration; • Oversees program registration, program communications, and assigned staff in program areas;
• Schedules use of facilities and assists with agreements, registrations, and reservations; • Monitors program budgets, set fees, and supports cost recovery goals; • Works with other agencies, stakeholders, and community groups to develop programs, activities, and events;
• Develops public information and publicity material and other related informational materials;
• Promotes programs through marketing efforts including flyers, social media, website, and community outreach;
• Oversees supplies, resources, and facilities for assigned program area(s), and the procurement of materials and resources needed;
• Evaluates program effectiveness through participant feedback and make recommendations for improvements;
• Prepares written reports and maintains records;
• Ensures the compliance of policies and safety standards to provide participants with a safe and inclusive environment in assigned program area(s); • Responds to issues, complaints, and requests for information; • Executes agreements and processes invoices May supervise use of departmental equipment and facilities; and
• Performs other related duties as required.

When assigned to Pre-School (in addition to the duties listed above):
• Communicates regularly with parents regarding program updates and behavior issues; and
• Conducts pre-school orientations and tours for prospective parents.

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When assigned to Aquatics (in addition to the duties listed above):
• Addresses incidents, accidents, and patron concerns, completing required reports and follow-up;
• Ensures compliance with all health codes, safety regulations, and emergency procedures; and
• Monitors water quality and coordinate regular testing and chemical balance in accordance with standards;
When assigned to Museum (in addition to the duties listed above):
• Interprets and presents historical and cultural content through engaging, educational programming
• Oversees care, handling, and documentation of artifacts in accordance with established standards;
• Catalog, accessions, and maintains museum collections; • Ensures proper handling, storage, and preservation of artifacts, including environmental monitoring and conservation coordination;
• Conducts historical research to support exhibits, programs, and interpretative materials; • Develops written content such as exhibit labels, educational materials, and publications; and
• Collaborates with historians, researchers, and partner organizations to enhance collection knowledge and interpretation

EMPLOYMENT STANDARDS
Education and Experience:
• A bachelor’s degree Graduation from an accredited college or university with major coursework in recreation administration or a closely related field. • EThree (3) years of experience in recreation/leisure services or closely related field. •o Experience closely related to assigned program area may be substituted on a year for year basis for up to two years of the required education. A minimum of 60 semester units towards a recreation/leisure services or closely related degree would still be required.
• Responsible experience related to the assigned program area is desirable. (Experience closely related to assigned program area may be substituted on a year for year basis for up to two years of the required education. A minimum of 60 semester units towards a recreation/leisure services or closely related degree would still be required.

Required Licenses or Certifications:
• Proof of the following certification is required no later than the end of the six- month probationary period: Certification in CPR, AED, and First Aid from the American Red Cross within the first six (6) months of employment.
• When assigned to the aquatics division proof of the following certification is required no later than the end of the six-month probationary period or six months after assignment:

Certification in American Red Cross Lifeguarding (including Deep Water) with CPR/AED for professional Rescuers and First Aide within the first six (6) months of employment. • Valid California Class C Driver's License or the ability to obtain alternate transportation as approved by the appointing authority.

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Knowledge of:
• Basic recreation programming principlesMethods, techniques, and procedures in the delivery of the community services program;
• Effective organizational and leadership techniques;
• Modern equipment, software, and communications tools used for assigned program area; and
• Techniques for providing a high level of customer service by effectively dealing with the public, vendors, contractors, and City staffGood interpersonal and public relations skills.

Ability to:
• Organize, evaluate, recommend, and conduct recreational activities; • Work with a variety of community groups and the general public; • Determine program needs and demands;
• Learn and utilize different software systems;
• Communicate clearly and concisely, both orally and in writingSpeak and write effectively; • Work with a minimum of supervision;
• Prepare and maintain records and reports;
• Exercise good judgment and sound decision-making;
• Ensure compliance of safety standards and administrative policies; • Establish, maintain, and foster positive and effective working relationships with those contacted in the course of work; and
• Train and evaluate contract, part-time, and hourly staff..

Special Requirements:
• Typical duties require the following physical abilities and work environment:
o General office environment, attend meetings at various sites within and away from the City, and have the availability to work off-hour shirts and events as required; o Sit and/or stand for long periods of time, repetitive keyboarding; reach, squat, lift, and carry up to 40 pounds;
o Mobility to lead groups in activities;
o Ability to work outdoors in a variety of weather and temperature conditions; o Vision to read printed materials and a computer screen hearing and speech to communicate in person and over telephone and/or computer.

Est. ’85
Rev ’91, ’97, 07/26
Item 7.8
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CITY OF CAMPBELL

RECREATION PROGRAM COORDINATOR

DEFINITION
Under general supervision, plans, organizes, and coordinates services, and activities related to assigned divisions (Enrichment Classes, Pre-School, Day Camp, Community Center, Senior Services, Sports, Aquatics, Fitness, and/or Museum) of the Recreation and Community Services Department; and to do related work as required.

TYPICAL DUTIES
Typical duties will include, but are not limited to:
• Plans, schedules, implements, organizes, and evaluates a variety of division programs, activities, or special events;
• May recruit, select, train, supervise and evaluate temporary part-time and seasonal personnel and volunteers;
• Oversees program registration, program communications, and assigned staff in program areas;
• Schedules use of facilities and assists with agreements, registrations, and reservations; • Monitors program budgets, set fees, and supports cost recovery goals; • Works with other agencies, stakeholders, and community groups to develop programs, activities, and events;
• Develops public information and publicity material and other related informational materials;
• Promotes programs through marketing efforts including flyers, social media, website, and community outreach;
• Oversees supplies, resources, and facilities for assigned program area(s), and the procurement of materials and resources needed;
• Evaluates program effectiveness through participant feedback and make recommendations for improvements;
• Prepares written reports and maintains records;
• Ensures the compliance of policies and safety standards to provide participants with a safe and inclusive environment in assigned program area(s); • Responds to issues, complaints, and requests for information; • Executes agreements and processes invoices ; and
• Performs other related duties as required.

When assigned to Aquatics (in addition to the duties listed above):
• Addresses incidents, accidents, and patron concerns, completing required reports and follow-up;
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• Ensures compliance with all health codes, safety regulations, and emergency procedures; and
• Monitors water quality and coordinate regular testing and chemical balance in accordance with standards.

When assigned to Museum (in addition to the duties listed above):
• Interprets and presents historical and cultural content through engaging, educational programming
• Oversees care, handling, and documentation of artifacts in accordance with established standards;
• Catalog, accessions, and maintains museum collections; • Ensures proper handling, storage, and preservation of artifacts, including environmental monitoring and conservation coordination;
• Conducts historical research to support exhibits, programs, and interpretative materials; • Develops written content such as exhibit labels, educational materials, and publications; and
• Collaborates with historians, researchers, and partner organizations to enhance collection knowledge and interpretation.

EMPLOYMENT STANDARDS
Education and Experience:
• A bachelor’s degree from an accredited college or university with major coursework in recreation administration or a closely related field.
• Three (3) years of experience in recreation/leisure services or closely related field. o Experience closely related to assigned program area may be substituted on a year for year basis for up to two years of the required education. A minimum of 60 semester units towards a recreation/leisure services or closely related degree would still be required.
• Responsible experience related to the assigned program area is desirable.

Required Licenses or Certifications:
• Certification in CPR, AED, and First Aid from the American Red Cross within the first six (6) months of employment.
• When assigned to the aquatics division: Certification in American Red Cross Lifeguarding (including Deep Water) with CPR/AED for professional Rescuers and First Aide within the first six (6) months of employment.
• Valid California Class C Driver's License or the ability to obtain alternate transportation as approved by the appointing authority.

Knowledge of:
• Methods, techniques, and procedures in the delivery of the community services program; • Effective organizational and leadership techniques;
• Modern equipment, software, and communications tools used for assigned program area; and
• Techniques for providing a high level of customer service by effectively dealing with the public, vendors, contractors, and City staff.

Ability to:

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• Organize, evaluate, recommend, and conduct recreational activities; • Work with a variety of community groups and the general public; • Determine program needs and demands;
• Learn and utilize different software systems;
• Communicate clearly and concisely, both orally and in writing; • Work with a minimum of supervision;
• Prepare and maintain records and reports;
• Exercise good judgment and sound decision-making;
• Ensure compliance of safety standards and administrative policies; • Establish, maintain, and foster positive and effective working relationships with those contacted in the course of work; and
• Train and evaluate contract, part-time, and hourly staff.

Est. ’85
Rev ’91, ’97, 07/26
Item 7.8
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CITY OF CAMPBELL

COMMUNITY SERVICES OFFICER

DEFINITION
Under general supervision, performs a variety of law enforcement duties and assignments to assist Police Officers in law enforcement activitieswhich do not require the legal powers of a sworn officer including investigations, patrol, animal services, records, parks, and traffic assignments, prisoner transport, and technical support, and to do related work as required.

TYPICAL DUTIES
Performs a wide variety of civilian duties for the Police Department, including but not limited to:. • Performs field work in the enforcement of parking regulations, ordinances, and laws; • Issues citations for parking and zoning violations;
• Enforces laws and ordinances as required;
• Arranges to have vehicles towed as necessary;
• Prepares reports;
• Processes crime scenes for evidence;
• Observes and reports hazardous conditions, and other emergencies; • Provides traffic control;
• Receives complaints and reports of routine criminal and non-criminal incidents from the public;
• Assists with completing bookings on arrestees;
• Transports prisoners to County jail;
• Completing custody-related reports and documentation; • Assisting with prisoner booking, searches, and property handling in accordance with department policy;
• Maintains records;
• Prepares necessary reports and appears in court to present evidence and testimony as required;
• Renders first aid and/or CPR when necessary;
• Operates a variety of office equipment; maintains and operates department equipment; • Performs related duties as assigned.

EMPLOYMENT STANDARDS
Education and Experience:
• Equivalent to graduation from high school; and
• One year of paid or volunteer work experience involving considerable contact with general public.
• Must satisfactorily complete a 160 hour corrections academy course within one year from date of hire.
• Must satisfactorily complete the required 832 PC class within 90 days of hire.

Knowledge of:

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• Policies and procedures of the police department;
• Laws, regulations, and civil and criminal statutes of appropriate agencies; • Provisions of the California Vehicle Code applicable to municipal traffic and vehicle control;
• Basic mathematical principleslaw enforcement terminology; • Crime prevention techniques and materials;
• Standard record keeping and report writing procedures and techniques; • Correct English usage, spelling, punctuation and grammar; • Common word processing, and customer service skills.

Ability to:
• Understand and execute oral and written instructions; • Be courteous, but firm, in maintaining effective communications with the general public in normal and stressful situations;
• Deal effectively with irate or uncooperative individuals, analyze situations and adopt effective courses of action to resolve problems;
• Operate a motor vehicle safely, courteously, and in accordance with traffic laws and departmental policy;
• Effectively handle multiple priorities, organize workload, and meet strict deadlines; • Communicate in a clear, concise, and effective manner, both orally and in writing; • Read and understand laws, ordinances, departmental policies, rules and instructions; • Observe, record memorize, and recall names, places, and incidents; • Establish and maintain effective working relationships with those contacted in the course of work;
• Work in a team-based environment and achieve common goals; • Walk or stand for extended periods of time;
• Bend, stoop, reach, carry, crawl, climb and lift as necessary to perform assigned duties; • Perform work in various environments including inside and outside in any weather.

Possession of:
• Valid California Driver’s License.

Est. 6/01
Rev: 2/02, 01/19, 07/26
Item 7.8
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CITY OF CAMPBELL

COMMUNITY SERVICES OFFICER

DEFINITION
Under general supervision, performs a variety of law enforcement duties and assignments which do not require the legal powers of a sworn officer including investigations, patrol, animal services, records, parks, and traffic assignments, prisoner transport, and technical support.

TYPICAL DUTIES
Performs a wide variety of civilian duties for the Police Department, including but not limited to:
• Performs field work in the enforcement of parking regulations, ordinances, and laws; • Issues citations for parking and zoning violations;
• Enforces laws and ordinances as required;
• Arranges to have vehicles towed as necessary;
• Prepares reports;
• Processes crime scenes for evidence;
• Observes and reports hazardous conditions, and other emergencies; • Provides traffic control;
• Receives complaints and reports of routine criminal and non-criminal incidents from the public;
• Assists with completing bookings on arrestees;
• Transports prisoners to County jail;
• Completing custody-related reports and documentation; • Assisting with prisoner booking, searches, and property handling in accordance with department policy;
• Maintains records;
• Prepares necessary reports and appears in court to present evidence and testimony as required;
• Renders first aid and/or CPR when necessary;
• Operates a variety of office equipment; maintains and operates department equipment; • Performs related duties as assigned.

Knowledge of:

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• Policies and procedures of the police department;
• Laws, regulations, and civil and criminal statutes of appropriate agencies; • Provisions of the California Vehicle Code applicable to municipal traffic and vehicle control;
• Basic law enforcement terminology;
• Crime prevention techniques and materials;
• Standard record keeping and report writing procedures and techniques; • Correct English usage, spelling, punctuation and grammar; • Common word processing, and customer service skills.

Possession of:
• Valid California Driver’s License.

Est. 6/01
Rev: 2/02, 01/19, 07/26
Item 7.8
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CITY OF CAMPBELL

STREET AND FLEET MAINTENANCE FIELD SUPERVISOR

DEFINITION
Under direction, supervises and participatesorganizes, manages, and directs the in all maintenance activities of the Street Maintenance and Fleet Sections of the Public Works Department; including pavement maintenance, signage, striping, street sweeping and sidewalk repairprovides highly complex support to the Public Works Superintendent; and performs related work as required.

TYPICAL DUTIES
Typical duties may include, but are not limited to, the following:
• Directs, oversees, and participates in the development of the workplans forSupervises the Street Maintenance and Fleet Sections of the Public Works Department; • Plans, organizes, assigns, evaluates and reports on the maintenance and construction of street improvements including pavement, sidewalks, storm sewers, striping, signage and related facilities;
• Estimates and orders materials;
• Plans, organizes, directs, and coordinates the acquisition, utilization, repair, and replacement of all City vehicles and power equipment;
• Assists in the development, implementation, and communication of departmental goals, objectives, policies, and procedures; effectively communicates departmental goals, objectives, policies, and procedures, verbally and in writing, to City staff and others • Prepares and assigns duties to personnel by providing oral or written instructions; • Inspects the work of staff and contractors;
• Supervises and provides training on equipment;
• Estimates and orders materials;
• Orders and maintains fuel supplies;
• Prepares the streets and fleet program budgets; Aassists with budget administrationimplementation;
• Maintains daily records and prepares maintenance schedules and routine reports and other performance information;
• Assists with the procurement and disposal program
• Effectively use computers, software programs, and other technology; • Oversees the development of the scope, cost, and, when approved, bid specifications for vehicle/equipment to be purchased;
• Ensures the work environment is in compliance with government safety and environmental standards
• Investigates complaints and deals regularly with the general public; • Evaluates the performance of assigned staff;
• May be required to work weekends and holidays;
• Performs other related duties as assigned.

EMPLOYMENT STANDARDS
Education and Experience:
• Equivalent to completion of the twelfth grade.
• Five years of responsible experience in construction, repair, and maintenance of streets, Item 7.8
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one of which is in a lead capacity.
• Supervisory experience is highly desirable.

Knowledge of:
• Principles and practices of street construction and maintenance operations, sidewalk construction and repair, storm sewer maintenance, and signing and striping maintenance and installation;
• Methods, tools, materials and equipment used in all phases of street and traffic control maintenance;
• Practices, methods, tools, and equipment of fleet maintenance; • Basic supervisory principlesPrinciples and practices of supervision; • and sSafety principles,work practices, and procedures; • Techniques of safe and effective traffic control.

Ability to:
• Supervise and perform street and fleet maintenance activities; • Supervise and evaluate personnel;
• Operate and maintain a variety of maintenance equipment; • Read and interpret plans and blueprints;
• Prepare routine reports and maintain records;
• Prepare and administer budgets;
• Communicate effectively both orally and in writing;
• Establish and maintain effective working relationships with those contacted in the course of work, including working with volunteers;
• Deal effectively with the public.

Possession of:
• Valid California Driver's Class C License.

Est. 5/07, Rev 07/26
Item 7.8
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CITY OF CAMPBELL

STREET AND FLEET MAINTENANCE SUPERVISOR

DEFINITION
Under direction, organizes, manages, and directs the maintenance activities of the Street Maintenance and Fleet Sections of the Public Works Department; provides highly complex support to the Public Works Superintendent; and performs related work as required.

TYPICAL DUTIES
Typical duties may include, but are not limited to, the following:
• Directs, oversees, and participates in the development of the workplans for the Street Maintenance and Fleet Sections of the Public Works Department; • Plans, organizes, assigns, evaluates and reports on the maintenance and construction of street improvements including pavement, sidewalks, storm sewers, striping, signage and related facilities;
• Plans, organizes, directs, and coordinates the acquisition, utilization, repair, and replacement of all City vehicles and power equipment;
• Assists in the development, implementation, and communication of departmental goals, objectives, policies, and procedures; effectively communicates departmental goals, objectives, policies, and procedures, verbally and in writing, to City staff and others • Prepares and assigns duties to personnel by providing oral or written instructions; • Inspects the work of staff and contractors;
• Supervises and provides training on equipment;
• Estimates and orders materials;
• Orders and maintains fuel supplies;
• Prepares the streets and fleet program budgets; assists with budget implementation; • Maintains daily records and prepares maintenance schedules and routine reports and other performance information;
• Assists with the procurement and disposal program
• Effectively use computers, software programs, and other technology; • Oversees the development of the scope, cost, and, when approved, bid specifications for vehicle/equipment to be purchased;
• Ensures the work environment is in compliance with government safety and environmental standards
• Investigates complaints and deals regularly with the general public; • Evaluates the performance of assigned staff;
• May be required to work weekends and holidays;
• Performs other related duties as assigned.

EMPLOYMENT STANDARDS
Education and Experience:
• Equivalent to completion of the twelfth grade.
• Five years of responsible experience in construction, repair, and maintenance of streets, one of which is in a lead capacity.
• Supervisory experience is highly desirable.

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Knowledge of:
• Principles and practices of street construction and maintenance operations, sidewalk construction and repair, storm sewer maintenance, and signing and striping maintenance and installation;
• Methods, tools, materials and equipment used in all phases of street and traffic control maintenance;
• Practices, methods, tools, and equipment of fleet maintenance; • Principles and practices of supervision;
• Safety principles, practices, and procedures;
• Techniques of safe and effective traffic control.

Possession of:
• Valid California Driver's Class C License.

Est. 5/07, Rev 07/26
Item 7.8
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CITY OF CAMPBELL

LEAD MECHANIC

DEFINITION
Under general supervision, performs advanced journey-level work in the inspection, diagnosis, servicing and repair of a variety of automotive and mechanical equipment. Provides lead supervision over Mechanic I and Mechanic II classifications.

TYPICAL DUTIES
Typical duties will include, but are not limited to:
• Performs specialized skilled maintenance, repair and installation work related to vehicle and equipment maintenance;
• Performs emergency repairs and establishes proper safety practices in doing such work; • Performs minor adjustments on service equipment;
• Provides lead supervision over assigned mechanic personnel; review and control quality of work; provide input for employee evaluations;
• Maintains tools and equipment in working order;
• Schedules, assigns, and performs service and repair procedures including tune ups, clutch adjustments, wheel alignments, transmission repairs, battery replacement, and brake work; inspects autos, trucks, tractors, street sweepers, and other construction and maintenance equipment;
• Maintains logs of daily activities;
• Assists in ordering supplies and equipment for work projects; maintain records of purchases and job cost accounting;
• Answers questions and handles complaints from other departments; • Performs other related duties as required.

EMPLOYMENT STANDARDS
Education and Experience:
• Equivalent to completion of the twelfth grade, supplemented by technical trade courses in equipment maintenance and repair.
• Five years of journey-level experience in vehicle maintenance. • One year of directly related post-secondary course work may be substituted for one year of the experience requirement.

Knowledge of:
• Principles and practices of automotive, truck, gas and diesel engine, and related systems repair and maintenance;
• Maintenance and repair techniques related to automotive computer control systems, high and low voltage electrical systems, high/low pressure pumps and vehicle air conditioning and emission control systems;
• Principles and practices of reviewing and evaluating others' work; • Principles and practices of emergency vehicle repair; Item 7.8
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• Principles and practices of safe work and driving;
• Pertinent department rules and procedures; and
• Pertinent traffic laws related to vehicle/equipment maintenance.

Ability to:
• Properly use all tools and equipment required to perform maintenance functions; • Assign and review the work of others;
• Operate heavy equipment skillfully and safely;
• Perform specialized journey-level vehicle maintenance duties; • Perform heavy manual labor;
• Communicate clearly and concisely, both orally and in writing; • Use independent judgment; and
• Establish and maintain effective working relationships with those contacted in the course of work.

Possession of:
• Valid California Class C Driver’s License.
• Valid State of California Class A Smog and Brake Licenses Est. 07/26
Item 7.8
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City Council Report
DATE: July 7, 2026
TITLE: Approval of Memorandum of Understanding between City of Campbell and Campbell Municipal Employees Association (CMEA)
(Resolution/Roll Call Vote)
RECOMMENDED ACTION:

That the City Council adopt a resolution ratifying a successor Memorandum of Understanding, effective July 1, 2026 through June 30, 2028, between the City of Campbell and the Campbell Municipal Employees Association (CMEA).

BACKGROUND
The City Council retains sole authority to enter into a Memorandum of Understanding (MOU) with recognized collective bargaining units. In turn, MOU negotiations are governed by the Meyer-Milias-Brown Act (MMBA), found at Government Code Section 3500, et. seq. The MMBA requires local agencies to meet and confer in good faith regarding wages, hours, and other terms and conditions of employment with representatives of recognized collective bargaining units. The MMBA further requires that the City fully consider proposals made by collective bargaining units’ representatives before determining policy or course of action.

Currently, the City and CMEA are operating pursuant to the terms of a Side Letter Agreement that extended an August 2022 MOU between the parties through June 30, 2026. The August 2022 MOU was originally set to expire on June 30, 2025.

In the fall of 2024, in anticipation of a budget deficit for Fiscal Year 25/26, the City placed on the local ballot a general half-cent sales tax known as “Measure K.” On November 5, 2024, Campbell voters overwhelmingly passed Measure K. Then, on January 6, 2025, just as the City began to prepare for labor negotiations with its bargaining units, the Silicon Valley Taxpayers’ Association and David H. Wolen (together, “SVTA”) filed a lawsuit against the City challenging the validity of Measure K. As a result of the lawsuit, the tax revenue scheduled to be collected beginning in April 2025 was required to be held in an escrow account pending the outcome of the lawsuit and the City cannot access the tax revenue unless and until said lawsuit is resolved in the City's favor.

By March 2025, the City was forecasted to face a budget deficit in Fiscal Year 25/26 of $3.17 million and in June 2025, CMEA agreed to defer a Cost of Living Adjustment (COLA) for Fiscal Year 25/26 and extend the August 16, 2022 MOU through June 30, 2026.

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While the City has successfully defended against the Measure K lawsuit at the Superior Court level, SCVTA appealed the court’s decision to the Court of Appeals and the Measure K litigation is ongoing.

In anticipation of the June 30, 2026, MOU expiration date and in light of the appeal in the Measure K litigation, the City Council met with its negotiation team to discuss a successor MOU and to provide authority and direction. With a forecasted budget deficit for Fiscal Year 26/27 of $2.7 million, the City Council directed the team to negotiate a successor MOU with CMEA that would provide compensation adjustments for employees that were sustainable and could reasonably and temporarily be supported with the use of reserve funds until the Measure K litigation is resolved.

DISCUSSION
Between March and June 2026, the City’s negotiation team met and conferred in good faith with representatives from CMEA. On June 2, 2026, the parties reached a tentative agreement that would cover the period from July 1, 2026, through June 30, 2028.

Specifically, the tentative agreement includes a 3% annual salary adjustment for each year of the two-year term, as well as a retroactive 3% salary adjustment to address FY 25/26, when the members of CMEA did not receive a COLA. Lastly, the tentative agreement adds a ½ day Holiday to the existing ½ day Holiday on Christmas Eve, and a commitment by the City to cover up to an 8% increase in health premiums for Health Plan Years 2027 and 2028.

FISCAL IMPACT
The FY 26/27 budget adopted by the City Council on June 16, 2026, does not include the costs associated with the tentative agreement and the City Council will need to approve the use of reserve funds to cover the cost. The net fiscal impact of the proposed MOU, including the cost of the salary increases and benefits, is estimated at $241,000 for FY 25/26 and $487,000 for FY 26/27. The latter amount will be included in future mid-year adjustments brought to Council for FY 26/27.

ALTERNATIVES

1. Not approve the MOU.

2. Approve the MOU with modifications.

PREPARED BY: Angelique Gaeta, Assistant City Manager
Item 7.9
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Report Approval Details
Document Title: Approval of Memorandum of Understanding Between City of Campbell and Campbell Municipal Employees Association
(CMEA).docx
Attachments: Resolution - CMEA 2026 Approving MOU 06.05.2026.doc CMEA MOU 2026-2028_Final Draft to CMEA_07.07.2026_v2.pdf Final Approval
Date:

July 01, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
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RESOLUTION NO. _____

A RESOLUTION OF THE CITY OF CAMPBELL CITY COUNCIL AMENDING THE COMPENSATION AND WORKING CONDITIONS FOR CLASSIFIED NONMANAGEMENT EMPLOYEES REPRESENTED BY

THE CAMPBELL MUNICIPAL EMPLOYEES ASSOCIATION (CMEA)
WHEREAS, the Campbell Municipal Employees Association (CMEA) is a recognized employee organization representing employees; and
WHEREAS, the City of Campbell (City) City Council retains sole authority to enter into a Memorandum of Understanding (MOU) with recognized employee organizations representing employees; and
WHEREAS, the City is currently operating pursuant to an August 2022 MOU, extended on June 17, 2025 through June 30, 2026; and
WHEREAS, the City Council’s negotiation team and CMEA representatives have reached and authorized a tentative agreement on the terms of a successor MOU for salaries, benefits and working conditions; and
WHEREAS, the City has satisfied its obligation under Government Code Section 3500, et. seq., and under the City’s Employer-Employee Relations Resolution No. 10016 to meet and confer over the terms and conditions of employment contained in the recommended successor MOU with CMEA; and
WHEREAS, the MOU has been presented to the City Council for consideration and ratification and is attached hereto and made a part hereof; and WHEREAS, the City Council of the City of Campbell desires to ratify and adopt the provisions included in the successor MOU;
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Campbell does hereby approve and ratify the successor Memorandum of Understanding (MOU) attached hereto and made a part hereof.

BE IT FUTHER RESOLVED that the terms and conditions of the successor MOU shall be in full force and effect from July 1, 2026 through June 30, 2028, except as specified otherwise in the MOU; and
FINALLY, BE IT FURTHER RESOLVED that the City Appointing Power and the Human Resources Manager have the authority to take any necessary administrative actions to implement the provisions of this resolution.

PASSED AND ADOPTED this 7th day of July, 2026, by the following roll call vote:

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AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

APPROVED:

Daniel L. Furtado, Mayor
ATTEST:

Andrea Sanders, City Clerk
Item 7.9
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Campbell Municipal Employees Association
Memorandum of Understanding
July 1, 2026 – June 30, 2028
1 10176869.1 CA025-027

MEMORANDUM OF UNDERSTANDING ON

WAGES, EMPLOYEE BENEFITS, HOURS AND

OTHER TERMS AND CONDITIONS OF EMPLOYMENT
Campbell Municipal Employees Association (CMEA)

PARTIES TO UNDERSTANDING
This Memorandum of Understanding is between the authorized representatives of the City Council of the City of Campbell, hereinafter referred to as “City”, and the authorized representatives of Campbell Municipal Employees Association, hereinafter referred to as “CMEA”.

STATE LAW COMPLIANCE
This Memorandum of Understanding complies with the provisions of the State of California Public Employees Representation Law, as contained in Section 3500 of the Government Code of the State in that the employer-employee representatives noted here did meet and confer in good faith and did reach agreement on those matters within the scope of representation.

This Memorandum of Understanding also complies with Resolution 10016, relating to employer-employee relations, as adopted and amended by the City Council of the City of Campbell.

I. GENERAL CONDITIONS
A. Personnel Rules and Regulations
This Memorandum of Understanding does not modify or change the provisions of the Personnel Rules and Regulations of the City unless a specific reference is made herein to modify or add to the existing Personnel Rules and Regulations.

Because some terms and conditions of employment are set forth in the Personnel Rules and Regulations, for the parties’ convenience, the Personnel Rules and Regulations can be found at:
https://www.campbellca.gov/DocumentCenter/View/19738/City-of-CampbellRules-and-Regulations.

B. Terms of Understanding
This Memorandum of Understanding embodies all modifications on salaries, hours, employee benefits, and other terms and conditions of employment, for a 24-month term beginning July 1, 2026 and ending June 30, 2028.

C. Existing Benefits Continued
This Memorandum of Understanding does not modify existing salaries, benefits, hours, or terms and conditions of employment contained in the currently adopted Item 7.9
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Campbell Municipal Employees Association
Memorandum of Understanding
July 1, 2026 – June 30, 2028
2 10176869.1 CA025-027
Pay and Classification Plan, except as noted herein. Such benefits and terms of employment remain unmodified and shall continue in full force and effect throughout the term of this Memorandum of Understanding.

D. Benchmarks
Accountant Building Inspector Office Assistant
Accounting Clerk II Building Maintenance Worker Associate Planner Associate Engineer Executive Assistant Recreation Coordinator IT Administrator Recreation Supervisor
Any special compensation adjustment for a benchmark classification provided for by this MOU will also be provided to classifications related to the benchmark as set forth below:

Accountant
Senior Accountant
Accounting Clerk II
Accounting Clerk I
Associate Engineer
Assistant Engineer
Junior Engineer
Engineering Aide
Engineering Technician
Environmental Program Specialist
Environmental Program Coordinator
Building Inspector
Senior Building Inspector
Public Works Inspector
Senior Public Works Inspector
Code Enforcement Officer
Permit Technician
Building Maintenance Worker
Building Maintenance Lead Worker
Utility Worker
IT Administrator
IT Technician
Communications and Public
Engagement Coordinator
Public Safety Systems Specialist
Executive Assistant
Office Specialist
Deputy City Clerk
Executive Assistant to Police Chief
Office Assistant
Senior Office Assistant
Associate Planner
Assistant Planner
Senior Planner
Administrative Analyst
Planning Technician
Economic Development Specialist
Unhoused Specialist
Recreation Supervisor
Senior Services Supervisor
Recreation Coordinator
Nutrition Site Manager
Recreation Specialist
Museum Collections Specialist
Item 7.9
Tuesday, July 07, 2026 146 of 492
Campbell Municipal Employees Association
Memorandum of Understanding
July 1, 2026 – June 30, 2028
3 10176869.1 CA025-027
The survey agencies for CMEA are listed below:

Survey Agencies
Cupertino
Gilroy
Los Altos
Los Gatos
Milpitas
Morgan Hill
Mountain View
Palo Alto
Santa Clara
Saratoga
Sunnyvale
The compensation components to be used for the Total Compensation analysis shall be as follows: Salary Min, Salary Max, CalPERS Retirement Contribution, Deferred Compensation, Certification Pay, Flexible Spending Account (FSA), Dental, Life, Vision, Medical (Highest Amount of Coverage), LTD, RHSA (VEBA), and Social Security/Medicare.

II. COMPENSATION
A. Salary

1. Effective the first full pay period in July 2026, the salaries of all classifications shall be increased by three percent (3%).

2. Effective the first full pay period in July 2027, the salaries of all classifications shall be increased by three percent (3%).

B. Fiscal Year 25/26 Retroactive Cost of Living Adjustment (COLA) By the second pay period in August 2026, each eligible bargaining unit member shall receive a one-time lump sum payment reflecting a retroactive three percent (3%) COLA for the period of July 1, 2025 to June 30, 2026.

III. HEALTH & WELFARE BENEFIT PROGRAMS
A. Benefit Cost Adjustments

1. The benefit cost adjustments for the term of this contract are as follows:
• The City will be responsible for any increase to the PERS employer contribution rate for the PERS plan.

Item 7.9
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Campbell Municipal Employees Association
Memorandum of Understanding
July 1, 2026 – June 30, 2028
4 10176869.1 CA025-027
• The City will continue to provide the current dental coverage, including an annual maximum per patient benefit of $2,500, and orthodontia coverage with a $2,500 per patient lifetime.
• The City will continue to provide for life insurance. • The City will continue to provide for the Employee Assistance Program. • The City will provide for Long Term Disability Insurance. The maximum benefit is $3,000 per month.
• The City will continue to provide for Vision Service Plan (VSP) coverage which includes Progressive Lens coverage.

B. Medical Insurance / Cafeteria Plan Allowance

1. Medical Insurance Benefit Program
The City will continue to contract with the California Public Employees Retirement System (CalPERS) for the purpose of providing employees with medical insurance benefits.

The City’s maximum monthly contribution for each eligible bargaining unit member for the purchase of medical insurance will be equal to the minimum monthly employer contribution required under the Public Employees Medical and Hospital Care Act (PEMHCA). The City’s contribution will come out of the amount the City currently contributes to employees as part of the Cafeteria Plan Allowance, provided below. The cost of the City’s participation in CalPERS will not require the City to expend additional funds toward health insurance beyond what is already provided through the Cafeteria Plan Allowance. Any cost increase to the minimum monthly employer contribution required under PEMCHA will be borne by employees.

2. Cafeteria Plan Allowance
Bargaining unit members electing medical coverage in the City’s plans will receive a health flex allowance and shall purchase such coverage through the City’s Cafeteria Plan.

Effective January 1, 2026, the monthly Cafeteria Plan Allowance is based on selected level of coverage as follows:
• Employee Only Coverage: $1,151.05
• Employee Plus One Coverage: $2,302.10
• Employee Plus Family Coverage: $2,992.72
Item 7.9
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Campbell Municipal Employees Association
Memorandum of Understanding
July 1, 2026 – June 30, 2028
5 10176869.1 CA025-027
Effective January 1, 2027, the monthly Cafeteria Plan Allowance will be set at the Kaiser Permanente Region 1 rates for 2027 at the employee’s selected level of coverage unless the 2027 rates are eight percent (8%) higher than the City’s 2026 contribution. If the year-over-year rate increase exceeds 8% of the City’s 2026 contribution, the City’s Cafeteria Plan Allowance shall be eight percent (8%) higher than the City’s 2026 contribution. Employees who select a plan with rates higher than the City’s Allowance will be required to make up the difference through salary redirection.

Effective January 1, 2028, the monthly Cafeteria Plan Allowance will be set at the Kaiser Permanente Region 1 rates for 2028 at the employee’s selected level of coverage unless the 2028 rates are eight percent (8%) higher than the City’s 2027 contribution. If the year-over-year rate increase exceeds 8% of the City’s 2027 contribution, the City’s Cafeteria Plan Allowance shall be eight percent (8%) higher than the 2027 contribution. Employees who select a plan with rates higher than the City’s Allowance will be required to make up the difference through salary redirection.

Employees who elect a medical insurance plan with a lower monthly premium than the amount of the City’s medical contribution may apply their unused contribution amount toward other benefit options that are available under the Cafeteria Plan, such as flexible spending accounts for out-of-pocket medical expenses and dependent care, accident insurance, cancer insurance, heart and stroke insurance, and life insurance benefits.

Employees who do not spend all their Cafeteria Plan Allowance on Cafeteria Plan benefits will not receive any cash benefit.

3. Conditional Opt-Out
Employees who at initial enrollment or during the annual open enrollment period complete an affidavit and provide proof of other minimum essential coverage for themselves under an exchange/marketplace or an individual plan, will be allowed to waive medical coverage for themselves and their qualified dependents (tax family). The monthly conditional opt-out incentive is $750.

The conditional opt-out incentive shall be paid in cash (taxable income) to the employee. The employee must notify the City within 30 days of the loss of other minimum essential coverage. The conditional opt-out payment shall no longer be payable if the employee and family members cease to be enrolled in other minimum essential coverage.

4. Flexible Spending Account
Effective the first full pay period in July 2026, each CMEA member will receive a City contribution to a flexible spending account (FSA) which can be used for IRS eligible medical or dependent care expenses in the amount of $80.76 per pay period.

Item 7.9
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Campbell Municipal Employees Association
Memorandum of Understanding
July 1, 2026 – June 30, 2028
6 10176869.1 CA025-027

IV. OTHER PROVISIONS
A. Tuition Reimbursement
City will continue the tuition reimbursement program as specified in Personnel Rules and Regulations Section 18.3.A, with a maximum reimbursement of $3,000 per year.

CMEA employees will be able to use tuition reimbursement money to attend relevant work-related training that is approved by management. Reimbursement will include tuition and class participation materials only.

Employees represented by CMEA may utilize tuition reimbursement for examination fees and related review course fees if pursuing job related certification programs.

B. Deferred Compensation
The City will continue to contribute $50 per pay period to each full-time CMEA employee’s Deferred Compensation account. The contribution for permanent part-time CMEA employees will be prorated accordingly.

C. Retiree Award Program
The City will continue the existing Retiree Award Program based on the following criteria and features:
• Minimum retirement age of 50 and retired from the City of Campbell. • Bills must be submitted to the City in January and July of each year for reimbursement for the prior six months’ costs.
• Award will not exceed cost for medical and dental coverage for the retiree only (not dependents) on a reimbursement basis as follows:
- For employees who have completed at least 17 years of service with the City of Campbell, award will be a maximum $325 per month. • All other provisions of the Retiree Award Program will remain unchanged. • Employees hired on or after July 1, 2017, will not be eligible for the Retiree Award Program.

D. Voluntary Employees Beneficiary Association Plan (VEBA) Item 7.9
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Campbell Municipal Employees Association
Memorandum of Understanding
July 1, 2026 – June 30, 2028
7 10176869.1 CA025-027
The City contributes $69.24 per pay period to each CMEA employee’s VEBA account.

The City shall cover the cost of the monthly administrative fee for each CMEA employee’s VEBA account.

E. Uniform and Equipment Allowance
City will provide a uniform allowance in the amount of $600 per year to the following classifications:

Building Maintenance Worker
Building Maintenance Lead Worker
Utility Worker
Recreation Specialist, Facilities
City will provide an allowance of $150 per year to the following classifications for work boots/shoes/hats:

Building Inspector
Senior Building Inspector
Public Works Inspector
Senior Public Works Inspector
Code Enforcement Officer
Associate Engineer
Assistant Engineer
Engineering Technician
The following classifications will be provided $150 for work boots/hats upon hire date or the effective date of this MOU (whichever occurs first), and on an as needed basis thereafter, to be determined by the department head:

Planning Technician
Assistant Planner
Associate Planner
Senior Planner
Uniform allowance payments will be made once each fiscal year (in July).

F. Bilingual Pay
The City will provide bilingual pay at $100 per pay period.

G. Employee Certifications
Any CMEA employee who has obtained a current Certified Pool Operator Certification and is actively utilizing the certification in the course of employment, Item 7.9
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Campbell Municipal Employees Association
Memorandum of Understanding
July 1, 2026 – June 30, 2028
8 10176869.1 CA025-027
shall receive an additional $25 per pay period.

H. Vacation
Employees shall be entitled to vacation pay in accordance with the following schedule:

Years of Service
Hours Accrued
Per Pay Period
Number of
Hours
Retainable
Start of year 1 through completion of
year 4

3.38 hours 220
Start of year 5 through completion of
year 10

4.92 hours 250
Start of year 11 through completion of
year 15

5.85 hours 300
Start of year 16 and thereafter 6.46 hours 350
I. City-Observed Holidays
Employees shall be entitled to eight hours of paid holiday time on each of the following City-observed holidays:

New Year’s Day
Martin Luther King, Jr. Day
President’s Day
Memorial Day
Independence Day
Labor Day
Thanksgiving Day and Day After Thanksgiving
Christmas Eve
Christmas Day
Holidays falling on Saturday will be observed on Friday and holidays falling on Sunday will be observed on Monday.

J. Floating Holidays
Five (5) floating holidays (40 hours) shall be incorporated into the employee leave bank per year. Employees receive the appropriate prorated portion of this entitlement upon hire. Floating holidays must be used during the calendar year in which they are granted. Unused floating holiday time may not be carried over to the next calendar year. Floating holiday time shall have no monetary value upon termination of employment.

Item 7.9
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Campbell Municipal Employees Association
Memorandum of Understanding
July 1, 2026 – June 30, 2028
9 10176869.1 CA025-027
K. Sick Leave
Employees accrue 3.69 hours of sick leave per pay period. Accumulation is unlimited.

EXECUTED THIS ___________ DAY OF 2026 BY THE EMPLOYEREMPLOYEE REPRESENTATIVES WHOSE SIGNATURES APPEAR BELOW FOR THEIR RESPECTIVE ORGANIZATION.

CITY REPRESENTATIVES CAMPBELL MUNICIPAL
EMPLOYEES ASSOCIATION –

NEGOTIATING TEAM MEMBERS
Brian Loventhal, City Manager Reina Antonio, President
Angelique Gaeta, Assistant City Manager Ken Ramirez, Vice-President Ada Chang, HR Manager Shannon Brangan, President Emerita Item 7.9
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City Council Report
DATE: July 7, 2026
TITLE: Lighting and Landscaping District LLA-1, Fiscal Year 2026-27 – Confirming Assessments (Resolution/Roll Call Vote)
RECOMMENDED ACTION:

That the City Council adopt a resolution overruling protests, if any, approving the Engineer’s Report, ordering the improvements, and confirming the diagram and assessments.

BACKGROUND
On April 7, 2026, pursuant to City Council Resolution No. 5831 approving the formation of the city-wide City of Campbell Lighting District LLA-1 (LLA-1) and the Landscaping and Lighting Act of 1972 (LLA), the City Council adopted Resolution No. 26-13378 directing staff to prepare a preliminary Engineer’s Report and initiate proceedings in support of levying assessments on properties within the LLA-1 for Fiscal Year (FY) 2026-27.

On June 2, 2026, the City Council adopted Resolution No. 26-13390 granting preliminary approval of the Engineer’s Report for LLA-1 for Fiscal Year (FY) 2026-27, including (1) plans and specifications of the existing and proposed improvements, if any; (2) estimate of costs; (3) diagram showing the exterior boundaries of the area of the Assessment District; and (4) assessments calculated according to benefits. The City Council also adopted Resolution No. 26-13391 declaring its intention to levy and collect assessments within the Assessment District, and setting the Public Hearing for the July 7, 2026, regular City Council meeting, as the time and place for hearing comments or protests in relation to the levy and collection of the proposed assessments pursuant to the LLA, and to said proposed improvements.

Noticing for the Public Hearing consisted of the publishing of the City’s Resolution of Intention in the Metro Silicon Valley on June 17, 2026, and June 24, 2026, as evidenced by the Affidavits and Certificates on file with the City Clerk.

The purpose of the LLA-1 is to help the City of Campbell (City) fund the installation, operation, and maintenance of a range of public improvements within the district, including public lighting, traffic signals, street and median landscaping, parks and recreational improvements, curbs, gutters, sidewalks, and irrigation systems and associated drainage improvements.

DISCUSSION
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The Engineer's Report for FY 2026-27 is on file with the City Clerk and includes:

1. Plans and specifications of the existing and proposed improvements, if any; to be installed within the Assessment District; and

2. Engineer’s estimate of the total costs of said improvements, including the operation and maintenance thereof, and of the incidental expenses in connection therewith; and

3. Diagram showing the boundaries of the Assessment District referred to and described in said Resolution No. 26-13390, and the lines and dimensions of each parcel of land within said District as such parcel is shown on the County Assessor's maps for the fiscal year to which it applies, each of which parcel has been given a separate number upon said diagram; and

4. Assessment of the total costs of said improvements upon the parcels of land in said District in proportion to the estimated benefits to be received by such parcels from said improvements, and the operation and maintenance thereof, and of the expenses incidental thereto contained in said report calculated for each parcel according to benefits received by said parcel.

The Public Hearing provides an opportunity for interested persons to be heard prior to Council's consideration of the Engineer's Report, the ordering of the improvements, and the confirming of the diagram and assessments for FY 2026-27.

City staff proposes that City Council adopt the attached resolution overruling protests, if any, approving the Engineer's Report, ordering the maintenance of improvements in the public interest, and confirming the diagram and assessments. If approved by the Council, the City Clerk will file the assessments with the County of Santa Clara ControllerTreasurer Department in early August for inclusion on the upcoming FY 2026-27 property tax roll.

FISCAL IMPACT
Projected LLA-1 revenues for FY 2026-27 are approximately $1,210,000.

ALTERNATIVES

1. Continue the Public Hearing to the August 3, 2026 City Council meeting.

2. Direct staff to revise the Engineer's Report with alternative assessment levels.

PREPARED BY: Roger Storz, Senior Civil Engineer
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Report Approval Details
Document Title: Report - LLA-1 FY26-27 Confirming Assessments.docx Attachments: Resolution LLA FY26-27.docx
Final Approval Date: July 01, 2026
This document and all of its attachments were approved and signed as outlined below:

Item 8.1
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RESOLUTION NO. __________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL APPROVING THE ENGINEER’S REPORT, ORDERING THE IMPROVEMENTS, AND

CONFIRMING THE DIAGRAM AND ASSESSMENTS FOR THE CITY OF CAMPBELL LIGHTING DISTRICT LLA-1 FOR FISCAL YEAR 2026/27
WHEREAS, on the 7th day of April 2026, said Council adopted its Resolution No. 26- 13378 describing improvements and directing preparation of the Engineer's Report for Fiscal Year (FY) 2026/27 for the City of Campbell Lighting District LLA-1 pursuant to the Landscaping and Lighting Act of 1972, and directed the City Engineer to prepare and file with the City Clerk a written report called for under said Act and by said Resolution; and WHEREAS, said report was duly made and filed with the City Clerk, whereupon said Clerk presented it to this Council on June 2, 2026 for its consideration; and WHEREAS, said Council thereupon duly considered said report and each and every part thereof and found that it contained all matters called for by the provisions of said Act and Resolution No. 26-13390, including (1) plans and specifications of the existing and proposed improvements, if any; (2) estimate of costs; (3) diagram showing the exterior boundaries of the area of the Assessment District; and (4) assessments calculated according to benefits; all of which were prepared in the form and manner required by said Act; and
WHEREAS, said Council found that said report, and each and every part thereof, was sufficient and determined that it should stand as the report for all subsequent proceedings under said Act, whereupon said Council, pursuant to the requirements of said Act, adopted Resolution No. 26-13391 and appointed July 7, 2026, at the regular meeting of said Council, City Hall, 70 North First Street, Campbell, California, as the time and place for hearing comments or protests in relation to the levy and collection of the proposed assessments pursuant to said Act, and to said proposed improvements, if any, including the operation and maintenance thereof, and directing the City Clerk to give notice of the public hearing as required by said Act; and
WHEREAS, notices of said Public Hearing were duly published in the time, form and manner required by said Act, as evidenced by the Affidavits and Certificates on file with the City Clerk, whereupon said hearing was duly held at the time and place stated in said notice; and
WHEREAS, on July 7, 2026, the Public Hearing was opened; and WHEREAS, persons objecting to said improvements, including the operation and maintenance thereof, or to the extent of the Assessment District, or to the proposed diagram or assessments, or to the Engineer's estimate of costs thereof, filed written protests with the City Clerk before the conclusion of said Public Hearing, and all persons desiring to be heard were given an opportunity to be heard, and all matters pertaining to the levy and collection of the assessments for said improvements, including the operation Item 8.1
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and maintenance thereof, were fully heard and considered by said Council.

NOW, THEREFORE, BE IT RESOLVED, DETERMINED, and ORDERED as follows:

1. That protests, if any, against said improvements, including the operation and maintenance thereof, or to the extent of the Assessment District, or to the proposed diagram or assessments, or to the Engineer's estimate of costs thereof, for FY 2026/27 be, and each of them are hereby overruled.

2. That the public interest, convenience, and necessity require and said Council does hereby order the levy and collection of assessments pursuant to said Act for the installation of improvements, including the operation and maintenance thereof, more particularly described in said Engineer's Report which is made a part hereof by reference.

3. That the City of Campbell Lighting District LLA-1 and the boundaries thereof benefited and to be assessed for said costs for the installation of the improvements, including the operation and maintenance thereof, are situated in the City of Campbell, California, and are more particularly described by reference to a map thereof on file in the office of the City Clerk. Said map indicates by a boundary line the extent of the territory included in said District.

4. That the plans and specifications for the existing improvements and proposed improvements, if any, to be installed within the Assessment District contained in said report be, and they are hereby, adopted and approved.

5. That the Engineer's estimate of the total costs of said improvements, including the operation and maintenance thereof, and of the incidental expenses in connection therewith, contained in said report be, and is hereby, adopted and approved.

6. That the public interest and convenience require, and said Council does hereby order the improvements, if any, to be installed as described in, and in accordance with, said Engineer's Report.

7. That the diagram showing the boundaries of the Assessment District referred to and described in said Resolution No. 26-13390, and the lines and dimensions of each parcel of land within said District as such parcel is shown on the County Assessor's maps for the fiscal year to which it applies, each of which parcel has been given a separate number upon said diagram as contained in said report be, and is hereby, approved and confirmed.

8. That the assessment of the total costs of said improvements upon the parcels of land in said District in proportion to the estimated benefits to be received by such parcels from said improvements, and the operation and maintenance thereof, and of the expenses incidental thereto contained in said report be, and the same is hereby, approved and confirmed.

9. That said Engineer's Report for FY 2026/27 be, and the same is hereby, adopted and approved.

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10. That the City Clerk shall forthwith file with the County of Santa Clara ControllerTreasurer Department said assessment, together with said diagram thereto attached and made a part thereof, as confirmed by the City Council, with the certification of such confirmation thereto attached and of the date thereof.

11. That the order for levy and collection of assessments for the improvements and the adoption and approval of the Engineer's Report as a whole, and of the plans and specifications, estimate of the costs, diagram, and assessments, as contained in said Report, as hereinafter determined and ordered, is intended to and shall refer and apply to said Report, or any portion thereof, as amended, modified, revised or corrected by, or pursuant to and in accordance with any resolution or order, if any, heretofore duly adopted or made by this Council.

I hereby certify that the foregoing is a full, true and correct copy of the Resolution duly passed and adopted by the City Council of the City of Campbell, California, at a meeting thereof held on the ______ day of _____________, 2026, by the following roll call vote of the members thereof:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

APPROVED:
________________________________
ATTEST: Daniel E. Furtado, Mayor
__________________________
Andrea Sanders, City Clerk
Item 8.1
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City Council Report
DATE: July 7, 2026
TITLE: Public Hearing to consider adoption of an interim ordinance superseding prior interim ordinance implementing Senate Bill (SB) 450 (2024), as modified by Assembly Bill (AB) 1061 (2025), to revise historic resource eligibility provisions applicable to two-unit developments and urban lot splits, simplify subdivision regulations, and eliminate design standards for certain Single-Family Residential Zoning Districts (Ordinance/ 4/5 roll call vote).

RECOMMENDED ACTION:

It is recommended that the City Council adopt an interim ordinance superseding Interim Ordinance No. 2321 and revising regulations applicable to single-family residential development and urban lot splits.

ENVIRONMENTAL DETERMINATION
The proposed interim ordinance is not a project under the California Environmental Quality Act (CEQA) pursuant to Government Code Sections 65852.21(k) and 66411.7(n).

EXECUTIVE SUMMARY
This report recommends adoption of an interim ordinance superseding Interim Ordinance No. 2321 to revise the City’s regulations applicable to single-family residential development and urban lot splits in response to recent changes in State housing law, while also simplifying certain objective standards that have proven difficult to administer in practice. The proposed ordinance would:
• Revise historic resource eligibility provisions to reflect AB 1061, ensuring the City’s regulations remain consistent with the narrowed State-law exemptions applicable to residential developments and urban lot splits.
• Simplify objective subdivision standards with more flexible rules for newly created lot lines, reducing unnecessary conflicts on irregular parcels while retaining clear subdivision controls.

Item 8.2
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• Remove the architectural design standards applicable to single-family homes in the San Tomas Area and Campbell Village neighborhoods, acknowledging that per State law, higher-density residential projects in single-family areas have fewer design constraints than traditional single-family development. • Streamline accessory structure standards by removing separate design and placement requirements and clarifying that detached garages, sheds, and similar structures are subject to the same setback rules as primary residential buildings, resolving inconsistencies created by implementation of State-laws. • Establish a process for homeowners with single-family homes built under older Planned Development permits to make additions or exterior changes when the work complies with current objective residential standards. • Make targeted technical revisions to the urban lot split regulations to improve consistency with State law, streamline parcel map administration, clarify treeremoval procedures, and formalize the City’s treatment of park impact fees based on guidance from the State.
• Add and revise definitions related to dormers, lot width, and half-stories to improve clarity and support consistent application of the revised standards.

LEGISLATIVE BACKGROUND
Senate Bill No. 9 (SB 9): Adopted in 2021, SB 9 aimed to increase the development capacity of single-family zoned properties by creating a ministerial approval process for up to two primary dwelling units on each parcel and separately authorizing ministerial approval of qualifying “urban lot splits,” allowing a parcel to be subdivided into two lots.

The law substantially limited local review authority by requiring qualifying applications to be approved ministerially, without a public hearing, subject only to specified eligibility criteria and limited objective standards. Local agencies retained authority to apply objective zoning, design, and subdivision standards, but were limited to maximum side and rear setbacks of four feet and parking requirements of no more than one space per unit.

SB 9 also included historic resource eligibility protections that allowed local agencies to exclude historic properties from the ministerial approval requirements. As implemented locally, these exemptions applied to properties listed on the City’s Historic Resources Inventory (HRI), including individually designated landmarks, non-landmark structures within the Alice Avenue Historic district, and Structures of Merit.

Following adoption of SB 9, many cities, including Campbell, implemented the law by creating separate local procedures and standards specifically applicable to SB 9 projects and urban lot splits. These standards were intended to address neighborhood compatibility, subdivision design, and site development concerns while remaining consistent with the minimum development rights established by state law.

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Senate Bill No. 450 (SB 450): Adopted in 2024, SB 450 significantly revised and expanded SB 9. Most notably, SB 450 prohibited local agencies from applying zoning, subdivision, or design standards to SB 9 projects unless those same standards also apply generally within the underlying single-family zoning district. As a result, cities could no longer maintain separate development standards or review procedures specifically for what had, up to that point, been treated as distinct “SB 9 projects.” In practice, SB 450 required cities to substantially restructure their local implementation ordinances.

As a result, the City adopted Interim Ordinance No. 2321 on January 13, 2025, which was most recently extended on December 2, 2025, and is set to expire on January 2, 2027.

The ordinance eliminated the separate SB 9 review procedures established under the prior interim ordinances. It also incorporated uniform objective development and design standards applicable to all single-family residential properties in the San Tomas and Campbell Village neighborhoods, superseding the prior subjective design requirements of the San Tomas Area and Campbell Village Neighborhood Plans. In addition, the interim ordinance separated urban lot split review from the architectural review of future homes, which are now reviewed ministerially through the building permit process rather than through a separate Planning review process. However, the protections applicable to locally designated historic properties remained unchanged.

Assembly Bill No. 1061 (AB 1061): Last year, the State adopted AB 1061, which revised the historic resource eligibility provisions applicable to single-family developments and urban lot splits under SB 9 and SB 450. The law narrows the exemptions primarily to individually designated landmarks and contributing structures within designated historic districts. For urban lot splits, AB 1061 also allows ministerial approval within historic districts where the proposed split would not require demolition or exterior alteration of the historic structure. As a result, properties in Campbell designated solely as Structures of Merit are generally no longer exempt from the ministerial approval requirements established under State law.

INTERIM ORDINANCES
Use of Interim Ordinances: The California Government Code (GC § 65858) allows local jurisdictions to adopt interim ordinances as urgency measures to provide sufficient time to address pressing land use matters. An interim ordinance requires a four-fifths vote of the City Council for adoption and is effective for no more than 45 days but may be extended for 10 months and 15 days following a noticed public hearing and subsequently extended for one additional year.

Due to the rapidly evolving legislative landscape related to housing over the last decade, and particularly since 2021 with the adoption SB 9, the City has increasingly relied on interim ordinances to establish the objective development standards and administrative procedures necessary to implement State law. Absent these measures, certain provisions of the Campbell Municipal Code could conflict with State law, creating uncertainty in the development review process, increasing the potential for legal disputes, and delaying implementation of State-mandated housing requirements.

Although this approach is unusual, it reflects the unprecedented pace and volume of recent State housing legislation. Campbell is not alone in taking this approach.

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Increasingly, California jurisdictions are relying on interim ordinances to establish objective standards and revise permitting procedures in order to maintain consistency with new State housing laws. In some jurisdictions, this approach has evolved beyond isolated interim ordinances into a more continuous interim implementation program. For example, Sacramento County maintains an annually updated “Interim State Legislation Guide" that temporarily overlays new State housing and land use laws onto the County’s zoning code until formal codification occurs. Given the continuing pace of annual housing legislation, Campbell may soon need to consider a similar approach.

Proposed Interim Ordinance: The proposed interim ordinance would supersede Interim Ordinance No. 2321 to address changes established under AB 1061 and revise the City’s existing implementation approach for single-family residential development and urban lot splits. The ordinance would (a) revise historic resource eligibility provisions, (b) simplify objective subdivision standards, (c) eliminate certain objective architectural design standards applicable to single-family residential development, and (d) incorporate related technical and clarifying amendments to the urban lot split regulations, accessory structure standards, Planned Development provisions, and zoning definitions.

DISCUSSION
In addition to revising the City’s requirements in response to AB 1061, the proposed ordinance would also simplify the City’s existing objective standards applicable to singlefamily residential development and subdivision. Staff has observed that certain objective standards have proven unnecessarily rigid and difficult to apply, particularly in the context of irregular parcel configurations.

In some cases, the City’s current standards applicable to single-family residential development (house additions) are now more restrictive than the standards effectively applicable to higher-density housing projects, particularly when taking into account Density Bonus Law waivers, concessions, and related statutory exceptions.

As a result, many single-family residential projects are currently subject to more restrictive development constraints than substantially larger multifamily housing developments. The proposed revisions are intended to reduce these constraints while still maintaining objective and predictable development standards.

The most significant changes proposed in the revised interim ordinance are summarized below. The full text of the proposed interim ordinance is included as Attachment 1, and a redline version identifying changes from existing Interim Ordinance No. 2321 is included as Attachment 2.

Historic Resource Eligibility: The proposed ordinance would revise the City’s historic resource eligibility provisions to reflect the narrower exemptions established under AB 1061. As a result, properties designated solely as “Structures of Merit” are no longer exempt from the ministerial approval requirements established under State law and generally must be treated the same as other single-family residential properties, including with respect to demolition and exterior alteration, without discretionary review.

Of the 143 historic resources listed on the City’s Historic Resources Inventory (HRI), 89 are designated as Structures of Merit, including 27 located within the R-1 zoning district that are directly affected by AB 1061. However, two of these properties remain subject to Item 8.2
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existing Mills Act contracts, which continue to apply notwithstanding AB 1061. A more detailed assessment of the impacts to historic properties is included in the memorandum to the Historic Preservation Board attached as Attachment 3.

Subdivision Standards: The City’s current interim subdivision standards establish objective and highly prescriptive geometric lot design requirements intended to ensure orderly subdivision patterns and consistent lot configurations. The standards identify specific allowable lot types, including interior lots, corner lots, cul-de-sac lots, and flag lots, while generally prohibiting lot configurations that do not conform to these defined types. The standards also include specific geometric requirements related to lot line orientation and corner angles, including requirements that lot lines generally intersect at right angles. In practice, these standards have proven difficult to apply to properties with existing irregular lot configurations, where newly created lots may be unable to fully satisfy the standards despite reflecting existing parcel conditions.

The proposed ordinance would replace these standards with a simplified approach that regulates the number and configuration of newly created lot lines, without regard to existing lot lines. The proposed standards require newly created lot lines to be straight, limit the number of newly created lot lines relative to the number of lots created, and prohibit certain irregular configurations, including lots without public street frontage or independent public access. The revised approach is intended to maintain objective subdivision standards while reducing unnecessary conflicts caused by existing irregular parcel geometry and overly prescriptive lot type requirements.

Residential Design Standards: As discussed in the Background section, the City previously replaced the subjective design requirements of the San Tomas Area and Campbell Village Neighborhood Plans with objective architectural and development standards through the City’s current SB 450 interim ordinance. As required under State law, objective standards must operate in a prescriptive and inflexible manner, relying on fixed “black-and-white” design requirements rather than contextual judgment.

Whereas the prior neighborhood review process provided a venue to evaluate and mediate tensions between homeowner design preferences, neighborhood concerns, and City expectations on a case-by-case basis, the application of objective standards instead requires the City to dictate specific architectural outcomes through fixed regulations.

Moreover, such standards are practically difficult and time-consuming to administer.

The proposed ordinance would eliminate these objective architectural standards while retaining the underlying zoning and development standards related to height, setbacks, floor area ratio, lot coverage, open space, and landscaping. As a result, single-family residential development within the San Tomas Area and Campbell Village neighborhoods would be regulated in the same manner as the rest of the City’s single-family residential neighborhoods, which historically have not been subject to comparable architectural design requirements or a discretionary review process.

These revisions also recognize that, under recent State housing laws, certain higher-density residential development projects within single-family neighborhoods are now subject to fewer design constraints than traditional singlefamily residential development. Removing the additional architectural standards for the Item 8.2
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San Tomas Area and Campbell Village neighborhoods is intended to help address this imbalance between homeowners and residential developers.

Accessory Structure Standards: Consistent with the proposed easing of residential design standards, the ordinance would similarly eliminate existing design and placement standards governing accessory structures, including detached garages and sheds. The ordinance would also clarify that accessory structures are subject to the same setback requirements applicable to primary residential structures, irrespective of conflicting standards contained within a neighborhood plan.

This change is intended to address an inconsistency within the San Tomas Area Neighborhood Plan created following implementation of SB 9 and SB 450, where setback requirements applicable to primary residential structures were reduced under State law, while older accessory structure standards remained unchanged. In practice, this resulted in accessory structures becoming subject to more restrictive setback requirements than primary residential buildings.

Planned Development Zoned Properties: The proposed ordinance would establish a limited mechanism allowing existing single-family homes constructed pursuant to older Planned Development permits (“legacy permits”) to be altered or expanded, provided the proposed work complies with the current objective zoning and development standards applicable to single-family residential properties.

Under the City’s current Zoning Code, legacy permits may no longer be modified. As a result, even minor additions or exterior alterations to existing single-family homes constructed under those permits require new discretionary entitlements. In practice, this has left some homeowners without a practical pathway to modify or update their homes in a manner comparable to other single-family residential properties. The proposed ordinance is intended to restore a reasonable alteration pathway for these properties while maintaining consistency with the City’s current objective residential development standards.

Technical Revisions to Urban Lot Splits: Several technical and clarifying revisions to the urban lot split regulations are intended to improve consistency with State law and streamline administration. The ordinance would also formalize the City’s existing determination, consistent with HCD guidance, that park impact fees may not be imposed on urban lot splits themselves, although such fees are still applied to future dwelling units constructed on the resulting parcels. Additional revisions would authorize the City Engineer to approve parcel maps containing utility, sidewalk, fire access, and similar public easements consistent with the approved tentative parcel map without separate City Council acceptance, and would clarify procedures related to protected tree removal and associated in-lieu replacement fees.

Definitions: The proposed ordinance would also add and revise several zoning definitions related to dormers, lot width measurement, and half-stories. These revisions are intended to clarify how the revised development standards are applied and to provide more objective criteria for reviewing residential building form and lot configuration.

ALTERNATIVE
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Instead of adopting the proposed interim ordinance as presented, the City Council may direct staff to return with a revised ordinance modifying the proposed revisions to the subdivision, residential design, accessory structure, or other zoning provisions. However, revisions to the historic resource eligibility provisions are necessary to maintain consistency with the changes established under AB 1061 applicable to ministerial twounit developments and urban lot splits.

PUBLIC COMMENT
Staff distributed an emailed notice of this Council meeting and the proposed modifications under the urgency ordinance to an interested party list that includes over 5,000 recipients, including neighborhood associations and interested parties. Correspondence received is included as Attachment 4.

FISCAL IMPACT
The proposed revisions to the subdivision standards may facilitate additional urban lot split applications that might not otherwise satisfy the City’s current objective subdivision standards. To the extent additional urban lot splits and associated residential development occur, the City may potentially receive additional application, permit, development impact, and park in-lieu fee revenue associated with tentative maps, public improvements, and new residential construction.

Item 8.2
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Report Approval Details
Document
Title:

Report - Adoption of an Interim Ordinance Superseding a Prior Interim Ordinance Implementing Senate Bill (SB) 450 (2024), as Modified by Assembly Bill (AB) 1061 (2025).docx
Attachments: Draft Ordinance.docx
Redline Ordinance (for reference only).pdf
HPB Memo.pdf
Public Comment.pdf
Final Approval
Date:

July 01, 2026
This document and all of its attachments were approved and signed as outlined below:

Item 8.2
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ORDINANCE NO. _____

BEING AN INTERIM ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CAMPBELL ADOPTING URGENCY MEASURES IMPLEMENTING SENATE BILL NO. 450, AS FURTHER MODIFIED BY ASSEMBLY BILL NO. 1061 (2025), SUPERSEDING

AND REPLACING PRIOR INTERIM REGULATIONS AND INCORPORATING REVISED

UNIFORM OBJECTIVE ZONING, SUBDIVISION, AND DESIGN STANDARDS FOR THE SINGLE-FAMILY RESIDENTIAL ZONING DISTRICT. (FILE NO. PLN-2026-41) WHEREAS, on September 16, 2021, the Governor of the State of California signed into law Senate Bill No. 9, "An act to amend Section 66452.6 of, and to add Sections 65852.21 and 66411.7 to, the California Government Code, relating to land use," which requires ministerial approval of a housing development of no more than two units in a single-family zone (proposed housing development), the subdivision of a parcel zoned for residential use into two parcels (urban lot split), or both.

WHEREAS, on September 19, 2024, the Governor of the State of California signed into law Senate Bill No. 450, "An act to amend Sections 65852.21 and 66411.7 of the California Government Code, relating to land use," which prohibits the imposition of nonuniform objective zoning, design, and subdivision standards on proposed housing developments and urban lot splits in single-family residential zones, establishes a 60-day timeline for local agency review and action, and updates requirements for demolition and environmental findings.

WHEREAS, Senate Bill No. 450 further specifies that objective zoning, design, and subdivision standards must relate to parcel design and improvements and allows local agencies to impose more permissive standards than the underlying zoning.

WHEREAS, Senate Bill No. 450 deems urban lot split and two-unit housing development applications approved if not acted upon within the 60-day period and requires agencies to provide detailed feedback for any denied applications to ensure applicants can address deficiencies.

WHEREAS, on October 10, 2025, the Governor of the State of California signed into law Assembly Bill No. 1061, "An act to amend Sections 65852.21 and 66411.7 of the California Government Code, relating to land use," which further modifies the statutory framework governing ministerial review and objective standards for certain housing developments and urban lot splits in single-family residential zones, including clarifications regarding historic resource exceptions and related procedural and applicability requirements.

WHEREAS, certain zoning and subdivision standards of the City of Campbell Zoning and Subdivision Codes, respectively, and their permitting procedures are inconsistent with Sections 65852.21 and 66411.7 of the California Government Code, as amended by Senate Bill No. 450.

WHEREAS, the provisions of Senate Bill No. 450 and Assembly Bill No. 1061 went into effect on January 1, 2025 and January 1, 2026, respectively, and without locally codified objective design standards and implementation procedures consistent with these statutes, the law presents a current and immediate threat to the public peace, health, safety, and Item 8.2
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Campbell City CouncilJuly 7, 2026

Campbell City Council
July 7, 2026