Chula Vista City Council
May 19, 2026

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 2 BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that this Resolution shall become effective immediately upon its adoption.

PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California at a regular meeting held this 19th day of May 2026.

PRESENTED BY: APPROVED AS TO FORM BY:
____________________________ ________________________________ Roy Sapa’u Marco A. Verdugo
Deputy City Manager/ City Attorney
Development Services Director
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California, this 19th day of May 2026 by the following vote:

AYES: Councilmembers:

NAYS: Councilmembers:

ABSENT: Councilmembers:

John McCann, Mayor
ATTEST:

STATE OF CALIFORNIA )

COUNTY OF SAN DIEGO )

CITY OF CHULA VISTA )
I, Kerry K. Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing Resolution No. 2026-____ was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 19th day of May 2026.

Executed this 19th day of May 2026.

Kerry K. Bigelow, MMC, City Clerk

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 1 RESOLUTION NO. __________

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA,

CALIFORNIA, ADOPTING A PROPOSED BOUNDARY MAP DESIGNATING IMPROVEMENT AREA “D” OF COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENANCE DISTRICT) OF THE CITY OF CHULA VISTA, COUNTY

OF SAN DIEGO, STATE OF CALIFORNIA AND SHOWING TERRITORY PROPOSED

TO BE ANNEXED TO SUCH IMPROVEMENT AREA
(ANNEXATION NO. 1)
WHEREAS, the CITY COUNCIL of the CITY OF CHULA VISTA, CALIFORNIA, (“City Council”), formed a Community Facilities District and certain improvement areas therein pursuant to the terms and provisions of the “Mello-Roos Community Facilities Act of 1982”, being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of California (the “Act”), and the City of Chula Vista Community Facilities District Ordinance enacted pursuant to the powers reserved by the City of Chula Vista under Sections 3, 5 and 7 of Article XI of the Constitution of the State of California (the “Ordinance”) (the Act and the Ordinance may be referred to collectively as the “Community Facilities District Law”). The Community Facilities District has been designated as COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE

MAINTENANCE DISTRICT) OF THE CITY OF CHULA VISTA, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA (the “District”) and the Improvement Areas were designated as IMPROVEMENT AREA “A,” IMPROVEMENT AREA “B,” and IMPROVEMENT AREA “C” of such District; and
WHEREAS, the City Council desires to initiate proceedings to designate a new improvement area known as Improvement Area “D” of Community Facilities District No. 97-2 (Preserve Maintenance District), City of Chula Vista, County of San Diego, State of California (the “Improvement Area”) and to annex certain territory to the Improvement Area thereof; and WHEREAS, there has been submitted a map entitled “Community Facilities District No. 97-2 Improvement Area D (Preserve Maintenance District), City of Chula Vista, County of San Diego, State of California” (the “Improvement Area Map”) showing the territory proposed to be designated as Improvement Area “D” and annexed to the District and the Improvement Area thereof (the “Territory”).

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista, California, that the Improvement Area Map showing the Territory proposed to be designated as the Improvement Area and to be annexed to the District and the Improvement Area thereof and to be subject to the levy of a special tax is hereby approved and adopted.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the above recitals are all true and correct and are incorporated herein by this reference.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that a certificate shall be endorsed on the original and on at least one (1) copy of the Improvement Area Map, evidencing the date and adoption of this Resolution, and within fifteen (15) days after the

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 2 adoption of the Resolution fixing the time and place of the hearing on the intention to designate the Improvement Area and to annex or extent of the annexation to the District and Improvement Area thereof, a copy of such map shall be filed with the correct and proper endorsements thereon with the County Recorder, all in the manner and form provided for in Section 3111 of the Streets and Highways Code of the State of California.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that this Resolution shall become effective immediately upon its adoption.

PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California at a regular meeting held this 19th day of May 2026.

PRESENTED BY: APPROVED AS TO FORM BY:
____________________________ ________________________________ Roy Sapa’u Marco A. Verdugo
Deputy City Manager/ City Attorney
Development Services Director
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California, this 19th day of May 2026 by the following vote:

AYES: Councilmembers:

NAYS: Councilmembers:

ABSENT: Councilmembers:

John McCann, Mayor
ATTEST:

STATE OF CALIFORNIA )

COUNTY OF SAN DIEGO )

CITY OF CHULA VISTA )
I, Kerry K. Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing Resolution No. 2026-____ was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 19th day of May 2026.

Executed this 19th day of May 2026.

Kerry K. Bigelow, MMC, City Clerk

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 1 RESOLUTION NO. __________

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

CHULA VISTA, CALIFORNIA, DECLARING ITS INTENTION

TO AUTHORIZE THE ANNEXATION OF TERRITORY TO
COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE

MAINTENANCE DISTRICT) OF THE CITY OF CHULA VISTA,

COUNTY OF SAN DIEGO, STATE OF CALIFORNIA AND
IMPROVEMENT AREA “C” THEREIN, AND TAKING OTHER

ACTIONS RELATED THERETO
(ANNEXATION NO. 14)
WHEREAS, the CITY COUNCIL of the CITY OF CHULA VISTA, CALIFORNIA, (“City Council”), formed a Community Facilities District and designated certain improvement areas therein pursuant to the terms and provisions of the “Mello-Roos Community Facilities Act of 1982”, being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of California (the “Act”), and the City of Chula Vista Community Facilities District Ordinance enacted pursuant to the powers reserved by the City of Chula Vista under Sections 3, 5 and 7 of Article XI of the Constitution of the State of California (the “Ordinance”) (the Act and the Ordinance may be referred to collectively as the “Community Facilities District Law”). The Community Facilities District has been designated as COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENANCE DISTRICT) OF THE CITY OF CHULA VISTA, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA (the “District”) and the Improvement Areas were designated as IMPROVEMENT AREA “A,” IMPROVEMENT AREA “B” and IMPROVEMENT AREA “C” of such District; and
WHEREAS, the District was formed for the purpose of financing the monitoring, maintenance, operation and management of public property required to be maintained as open space or habitat preservation or both; and
WHEREAS, Improvement Area “C” was established to finance Preserve Operations and Maintenance and Resource Monitoring, plus a pro-rata share of Administrative Expenses of the District as such terms are defined in the rate and method of apportionment of special taxes (the “Improvement Area “C” Rate and Method”) attached as Exhibit “A” hereto and incorporated herein by this reference; and
WHEREAS, certain territory identified San Diego County Assessor’s Parcel No. 595-070- 82-00 which is proposed to be annexed to the District and Improvement Area “C” thereto and such territory shall be known and designated as COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENANCE DISTRICT) OF THE CITY OF CHULA VISTA, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, IMPROVEMENT AREA “C,” ANNEXATION NO. 14 (the “Territory”); and
WHEREAS, the City Council has received a written petition from the owner of the Territory (the “Owner”) requesting that the City Council initiate proceedings to annex and to include such Territory within the boundary of Improvement Area “C” of the District; and

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 2 WHEREAS, this legislative body now desires to proceed to adopt this Resolution of Intention to annex the Territory to Improvement Area “C,” to describe the territory included within Improvement Area “C” and the Territory proposed to be annexed thereto, to specify the services to be financed from the proceeds of the levy of special taxes within the Territory, to set and specify the special taxes that would be levied within the Territory to finance such services, and to set a time and place for a public hearing relating to the annexation of the Territory to Improvement Area “C;” and
WHEREAS, a map showing the Territory proposed to be annexed to Improvement Area “C” has been submitted, which map has been previously approved and a copy of the map shall be kept on file with the transcript of these proceedings.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista, that it declares its intention to authorize the annexation of the Territory to the District and Improvement Area “C” thereto.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the above recitals are all true and correct and are incorporated herein by this reference.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that these proceedings for annexation are initiated by this City Council pursuant to the authorization of the Community Facilities District Law.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that it hereby determines that the public convenience and necessity requires that the Territory be added to the District and Improvement Area “C” thereto and this City Council declares its intention to annex the Territory to the District and Improvement Area “C” thereto.

A description of the boundaries and Territory proposed to be annexed is as follows:

All that Territory proposed to be annexed to the District and Improvement Area “C” thereto, as such property is shown on a map as previously approved by this legislative body, such map entitled “Annexation Map No. 14 to Community Facilities District No. 97- 2 Improvement Area C (Preserve Maintenance District), City of Chula Vista, County of San Diego, State of California” (the “Annexation Map”), a copy of which is on file in the Office of the City Clerk and shall remain open for public inspection.

A general description of the territory included in the District is hereinafter described as follows:

All that property and territory as originally included within and previously annexed to the District and Improvement Area “C” thereto, as such property is shown on maps of the original District and territory previously annexed as approved by this City Council and designated by the name of the original District and Annexation Nos. 1 through 13. A copy of such maps are on file in the Office of the City Clerk and have also been filed in the Office of the County Recorder.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 3 BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the proposed annexation shall be known and designated as COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENANCE DISTRICT) OF THE CITY OF CHULA VISTA, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, IMPROVEMENT AREA “C,” ANNEXATION NO. 14.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the services that are authorized to be financed by the District from the proceeds of special taxes levied within Improvement Area “C” are certain services which are in addition to those provided in or required for the territory within Improvement Area “C” and will not be replacing services already available. A general description of such services to be financed by the District is as follows:

The monitoring, maintenance, operation, and management of the public property within boundaries of the Otay Ranch Preserve, as such boundaries may be modified from time to time, required by the Resource Management Plan to be maintained as open space or habitat preservation land or both. Such property may be located outside the boundaries of the District and outside the jurisdictional boundaries of the City of Chula Vista. Such services shall not include the maintenance, operation and/or management of any property owned, maintained, operated and/or managed by the federal and/or state government as open space, habitat maintenance and/or for any other purpose.

A more complete description of such services may be found in Attachments A and B to the Improvement Area “C” Rate and Method (defined below).

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the District shall finance all direct, administrative and incidental annual costs and expenses necessary to provide such monitoring, maintenance, operation and management of such public property. The same types of services which are authorized to be financed by the District from the proceeds of special taxes levied within Improvement Area “C” are the types of services to be provided in the Territory. If and to the extent possible, such services shall be provided in common within the District and the Territory.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that it is the further intention of this City Council that, except where funds are otherwise available, a special tax sufficient to pay for such services and related incidental expenses authorized by the Community Facilities District Law, secured by recordation of a continuing lien against all nonexempt real property in the Territory, will be levied annually within the boundaries of such Territory. For further particulars as to the rate and method of apportionment of the proposed special tax, reference is made to the attached and incorporated Exhibit “A” (the “Improvement Area ‘C’ Rate and Method”), which sets forth in sufficient detail the method of apportionment to allow each landowner or resident within the proposed Territory to clearly estimate the maximum amount that such person will have to pay. The special tax proposed to be levied within the Territory shall be equal to the special tax levied to pay for the same services in Improvement Area “C,” except that a higher or lower special tax may be levied within the Territory to the extent that the actual cost of providing the services in the Territory is higher or lower than the cost of providing those services in Improvement Area “C.” Notwithstanding the foregoing, the special tax may not be levied at a

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 4 rate which is higher than the maximum special tax authorized to be levied pursuant to the Improvement Area “C” Rate and Method. This section shall not be construed to limit the levy of a special tax within the Territory to be annexed or territory to be annexed in the future to provide new or additional services beyond those supplied within the existing territory of the District.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the special taxes herein authorized, to the extent possible or unless otherwise determined by the CFD Administrator, shall be collected in the same manner as ad valorem property taxes and shall be subject to the same penalties, procedure, sale and lien priority in any case of delinquency as applicable for ad valorem taxes. Any special taxes that may not be collected on the County property tax roll shall be collected through a direct billing procedure by the CFD Administrator. The maximum special tax rate in Improvement Area “C” and the District shall not be increased as a result of the annexation of the Territory to Improvement Area “C.” BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that it will hold a Public Hearing and give notice as follows:

PUBLIC HEARING. NOTICE IS GIVEN THAT ON TUESDAY, JULY 14, 2026 AT THE HOUR OF 5:00 P.M., IN THE REGULAR MEETING PLACE OF THE LEGISLATIVE BODY, BEING THE COUNCIL CHAMBERS, 276 FOURTH

AVENUE, CHULA VISTA, CALIFORNIA, A PUBLIC HEARING WILL BE

HELD WHERE THIS LEGISLATIVE BODY WILL CONSIDER THE

AUTHORIZATION FOR THE ANNEXATION OF THE TERRITORY TO THE DISTRICT AND IMPROVEMENT AREA “C” THERETO, THE PROPOSED

RATE AND METHOD OF APPORTIONMENT OF THE SPECIAL TAX TO BE

LEVIED WITHIN THE TERRITORY AND ALL OTHER MATTERS AS SET FORTH IN THIS RESOLUTION OF INTENTION.

AT SUCH PUBLIC HEARING, THE TESTIMONY OF ALL INTERESTED

PERSONS FOR OR AGAINST THE ANNEXATION OF THE TERRITORY OR

THE LEVYING OF SPECIAL TAXES WITHIN THE TERRITORY WILL BE HEARD.

AT SUCH PUBLIC HEARING, PROTESTS AGAINST THE PROPOSED

ANNEXATION OF THE TERRITORY, THE LEVY OF SPECIAL TAXES

WITHIN THE TERRITORY OR ANY OTHER PROPOSALS CONTAINED IN

THIS RESOLUTION MAY BE MADE ORALLY BY ANY INTERESTED
PERSON. ANY PROTESTS PERTAINING TO THE REGULARITY OR

SUFFICIENCY OF THE PROCEEDINGS SHALL BE IN WRITING AND SHALL

CLEARLY SET FORTH THE IRREGULARITIES OR DEFECTS TO WHICH OBJECTION IS MADE. ALL WRITTEN PROTESTS SHALL BE FILED WITH THE CITY CLERK PRIOR TO THE TIME FIXED FOR THE PUBLIC HEARING.

WRITTEN PROTESTS MAY BE WITHDRAWN IN WRITING AT ANY TIME BEFORE THE CONCLUSION OF THE PUBLIC HEARING.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that it will provide notice of the time and place of the public hearing which shall be given by the City Clerk by publication in the legally designated newspaper of general circulation, said publication pursuant

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 5 to Section 6061 of the Government Code, with said publication to be completed at least seven (7) days prior to the date set for the public hearing.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that if (a) 50% or more of the registered voters, or six (6) registered voters, whichever is more, residing within Improvement Area “C” of the District, (b) 50% or more of the registered voters, or six (6) registered voters, whichever is more, residing within the Territory, (c) owners of one-half or more of the area of land in the territory included in Improvement Area “C” of the District, or (d) owners of one-half or more of the area of land included in the Territory, file written protests against the proposed annexation of the Territory to Improvement Area “C” of the District in the future and such protests are not withdrawn so as to reduce the protests to less than a majority, no further proceedings shall be undertaken for a period of one year from the date of the decision by the City Council on the issue discussed at the public hearing.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that it will conduct an election if upon the conclusion of the public hearing, if the legislative body determines to proceed with the annexation of the Territory, a proposition shall be submitted to the qualified electors of the Territory. The vote shall be by registered voters within the Territory; provided, however, if there are less than 12 registered voters, the vote shall be by landowners, with each landowner having one vote per acre or portion thereof within the Territory.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that this Resolution shall become effective immediately upon its adoption.

PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California at a regular meeting held this 19th day of May 2026.

PRESENTED BY: APPROVED AS TO FORM BY:
____________________________ _____________________________ Roy Sapa’u Marco A. Verdugo
Deputy City Manager/ City Attorney
Development Services Director

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 6 PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California, this 19th day of May 2026 by the following vote:

AYES: Councilmembers:

NAYS: Councilmembers:

ABSENT: Councilmembers:

John McCann, Mayor
ATTEST:

STATE OF CALIFORNIA )

COUNTY OF SAN DIEGO )

CITY OF CHULA VISTA )
I, Kerry K. Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing Resolution No. 2026-____ was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 19th day of May 2026.

Executed this 19th day of May 2026.

Kerry K. Bigelow, MMC, City Clerk

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 7 “EXHIBIT A”
Rate and Method of
Apportionment of Special Tax

CITY OF CHULA VISTA
COMMUNITY FACILITIES DISTRICT NO. 97-2
(PRESERVE MAINTENANCE DISTRICT)
Improvement Area C
Annexation No. 14

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 8 Rate and Method of Apportionment of Special Tax
City of Chula Vista Community Facilities District No. 97-2 (PRESERVE MAINTENANCE DISTRICT)
Improvement Area C
Annexation No. 14
A Special Tax of Community Facilities District No. 97-2 (Preserve Maintenance District) of the City of Chula Vista ("CFD") shall be levied on all Assessor's Parcels in Annexation No. 14 of Improvement Area C of the CFD and collected each Fiscal Year commencing with Fiscal Year 2025-2026 in an amount determined through the application of the rate and method of apportionment of the Special Tax set forth below. All of the real property within Annexation No. 14 of Improvement Area C of the CFD, unless exempted by law or by the provisions hereof, shall be taxed for the purposes, to the extent and in the manner herein provided.

A. Definitions
The terms hereinafter set forth have the following meanings:
"Acre or Acreage" means the land area of an Assessor’s Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor's Parcel Map, the land area shown on the applicable Final Subdivision Map, other final map, other parcel map, other condominium plan, or functionally equivalent map or instrument recorded in the Office of the County Recorder. The Acreage of a Parcel shall be calculated to the nearest one-hundredth (1/100) of an acre. The square footage of an Assessor's Parcel is equal to the Acreage multiplied by 43,560.
"Act" means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2 of Title 5 of the Government Code of the State of California. "Administrative Expenses" means the actual or estimated costs incurred by the City, acting for and on behalf of the CFD as the administrator thereof, to determine, levy and collect the Special Taxes, including salaries of City employees and a proportionate amount of the City’s general administrative overhead related thereto, and the fees of consultants and legal counsel providing services related to the administration of the CFD; the costs of collecting installments of the Special Taxes; and any other costs required to administer Area C of the CFD as determined by the City. "Assessor's Parcel" or “Parcel” means a lot or parcel shown in an Assessor's Parcel Map with an assigned assessor's parcel number.
"Assessor's Parcel Map" means an official map of the Assessor of the County designating parcels by assessor's parcel number.
"Building Square Foot or Square Footage" means the square footage as shown on an Assessor’s Parcel’s building permit of Residential Property excluding garages or other structures not used as living space. "CFD Administrator" means an official of the City, or designee thereof, responsible for determining the Special Tax Requirement and providing for the levy and collection of the Special Taxes. "CFD" means Community Facilities District No. 97-2 (Preserve Maintenance District) of the City of Chula Vista.
"City" means the City of Chula Vista.
"City Clerk" means the City Clerk for the City of Chula Vista or his or her designee. "City Manager" means the City Manager for the City of Chula Vista or his or her designee. "Community Purpose Facility Property" or "CPF Property" means all Assessor’s Parcels which are classified as community purpose facilities and meet the requirements of City of Chula Vista Ordinance

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 9 No. 2883. In the event that Chula Vista Ordinance No. 2883 is repealed, CPF Property means all Assessor’s Parcels which are classified as community purpose facilities as defined in the Chula Vista Municipal Code Section 19.48.025.C (as amended from time to time). "Council" means the City Council of the City of Chula Vista, acting as the legislative body of the CFD. "County" meansthe County of San Diego, California.
"Developed Property" means all Taxable Property for which a building permit was issued prior to the March 1st preceding the Fiscal Year in which the Special Tax is being levied. "Final Map Property" means any residential lot or non-residential lot created by a Final Subdivision Map, but which is not classified as Developed Property. "Final Subdivision Map" means a subdivision of property creating residential or non-residential buildable lots by recordation of a final subdivision map or parcel map pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq.), or recordation of a condominium plan pursuant to California Civil Code 1352, that creates individual lots for which building permits may be issued without further subdivision and is recorded prior to March 1 preceding the Fiscal Year in which the Special Tax is being levied.
"Fiscal Year" means the period starting July 1 and ending on the following June 30. "Improvement Area C" or "Area C" means Improvement Area C of the CFD, as identified on the boundary map for the CFD as amended from time to time.
"Land Use Class" means any of the classes listed in Table 1, Table 2, or Table 3. "Maximum Special Tax" means the maximum Special Tax, determined in accordance with Section C below that may be levied in any Fiscal Year on any Assessor’s Parcel of Taxable Property. "Non-Residential Property" means all Assessor’s Parcels of Developed Property for which a building permit(s) has been issued for a structure or structures for non-residential use. "Operating Fund" means a fund that shall be maintained within the CFD for each Fiscal Year to pay for Resource Monitoring and/or Preserve Operations and Maintenance activities and Administrative Expenses.
"Operating Fund Balance" means the amount of funds in the Operating Fund at the end of the preceding Fiscal Year.
"Operating Fund Requirement" meansfor any Fiscal Year an amount equal to the Resource Monitoring Fund Requirement and the Preserve Operations and Maintenance Fund Requirement for the current Fiscal Year in which Special Taxes are levied.
"Preserve Operations and Maintenance" means those activities described in Attachment A hereto which is incorporated herein by this reference.
"Preserve Operations and Maintenance Fund Requirement" means for any Fiscal Year an amount equal to the budgeted costs for Preserve Operations and Maintenance plus a pro-rata share of the budgeted Administrative Expenses of the District for the current Fiscal Year in which Special Taxes are levied.
"Reserve Fund" means a fund thatshall be maintained for the CFD each Fiscal Yearto provide necessary cash flow for the first six months of each Fiscal Year, working capital to cover monitoring, maintenance and repair cost overruns and delinquencies in the payment of Special Taxes and a reasonable buffer to prevent large variations in annual Special Tax levies.
"Reserve Fund Requirement" means an amount equal to up to 100% of the Operating Fund

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 10 Requirement for any Fiscal Year.
"Residential Property" means all Assessor’s Parcels of Developed Property for which a building permit(s) has been issued for purposes of constructing one or more residential dwelling unit. "Resource Management Plan" means the Otay Ranch Phase 1 Resource Management Plan also referred to as “The Otay Ranch Resource Management Plan” dated October 28, 1993, and the Otay Ranch Phase 2, Resource Management Plan dated June 4, 1996, as both such plans may be amended from time to time.
"Resource Monitoring Program" means those described in Attachment B hereto which is incorporated herein by this reference.
"Resource Monitoring Fund Requirement" meansfor any Fiscal Year an amount for each Improvement Area equal to the Improvement Area’s fair share of the budgeted costs of the Resource Monitoring Program plus a pro rata share of the budgeted Administrative Expenses of the CFD for the current Fiscal Year in which Special Taxes are levied. Improvement Area C’s “fair share” shall be based on Improvement Area C’s percentage of the total acreage within the Otay Ranch General Development Plan Planning Area for which a Resource Monitoring Program funding mechanism has been established. "Special Tax" meansthe Special Tax levied pursuant to the provisions ofsections C and D below in each Fiscal Year on each Assessor's Parcel of Developed Property and Undeveloped Property in Area C to fund the Special Tax Requirement.
"Special Tax Requirement" means that amount required in any Fiscal Year for Area C to: (i) pay the Resource Monitoring Fund Requirement, and Preserve Operations and Maintenance Fund Requirement, less the Operating Fund Balance, and (ii) pay any amounts required to establish or replenish the Reserve Fund to the Reserve Fund Requirement; (iii) pay for reasonably anticipated delinquent Special Taxes based on the delinquency rate for Special Taxes levied in the previous Fiscal Year.
"State" meansthe State of California.
"Taxable Property" means all of the Assessor's Parcels within the boundaries of Area C of the CFD that are not exempt from the Special Tax pursuant to law or as defined below. "Undeveloped Property" means, for each Fiscal Year, all Taxable Property not classified as Developed Property.

B. Assignment to Categories of Special Tax
Each Fiscal Year using the definitions above, all Taxable Property within Annexation No. 14 of Improvement Area C of the CFD shall be classified as Category I, Category II, Category III or Exempt as defined in Section C. The Taxable Property shall further be classified as Developed Property, Final Map Property or Undeveloped Property and shall be subject to Special Taxes pursuant to Sections C and D below. Developed Property shall be further assigned to a Land Use Class as specified in Table 1.

C. Maximum Special Tax Rate
Category I
Category I includes Developed Property within the District (“Category I”).

The Maximum Special Tax for the Resource Monitoring Program and Preserve Operations and Maintenance for Fiscal Year 2025-2026 on Developed Property are the rates set forth in Table 1 below.

For Residential Property, the Special Tax shall be levied based upon Building Square Footage and for

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 11 Non-Residential Property shall be levied based on Acreage.

TABLE 1
Maximum Special Tax for Category I
Community Facilities District No. 97-2 Improvement Area C (Fiscal Year 2025-2026)
Description Resource Monitoring
Operation &
Maintenance Total
Residential $0.0096 /square foot $0.0153 /square foot $0.0249 /square foot Non- Residential $157.06 / acre $249.34 / acre $406.40 / acre Category II
Category II includes each Assessor’s Parcel of Taxable Property within the District for which a Final Map has been recorded, but which is not classified as a Developed Parcel (“Category II”).

The Maximum Special Tax for the Resource Monitoring Program and Preserve Operations and Maintenance approved for Fiscal Year 2025-2026 on each Assessor’s Parcel in Category II is the rate set forth in Table 2 below (said amount to be levied pro rata for any portion of an Acre).

TABLE 2
Maximum Special Tax for Category II
Community Facilities District No. 97-2 Improvement Area C (Fiscal Year 2025-2026)
Resource Monitoring Operation & Maintenance Total
$157.06 / acre $249.34 / acre $406.40 / acre
Category III
Category III includes each Assessor’s Parcel of Taxable Property within the District notsubject to Special Tax under any other category (“Category III”).

The Maximum Special Tax approved for Fiscal Year 2025-2026 on Taxable Property within Category III is the rate set forth in Table 3 below (said amount to be levied pro rata for any portion of an Acre).

TABLE 3
Maximum Special Tax for Category III
Community Facilities District No. 97-2 Improvement Area C (Fiscal Year 2025-2026)
Resource Monitoring Operation & Maintenance Total
$101.37 / acre $160.94 / acre $262.31 / acre

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 12 Exempt Category
The Exempt Category includes each property owned, conveyed or irrevocably offered for dedication to a public agency, or land which is in the public right-of-way, unmanned utility easements which make utilization for other than the purpose set forth in the easement impractical, common areas, private streets and parks, and open space lots, and any property that is otherwise exempt from the levy of special taxes pursuant to Government Code Section 53340(c) (“Exempt Category”).

Special Cases
In some instances, an Assessor’s Parcel of Developed Property may contain more than one Land Use Class and be considered “Special Case”. The Maximum Special Tax that may be levied on an Assessor’s Parcel identified as Special Case shall be the sum of the Maximum Special Tax levies that may be levied on all Land Use Classes located on that Assessor’s Parcel. The CFD Administrator shall determine the allocation to each Land Use Class.

Annual Escalation of Maximum Special Tax
The Maximum Special Tax as shown in the tables above that may be levied on each Assessor’s Parcel in Improvement Area C, Annexation No. 14, shall be increased each Fiscal Year beginning in Fiscal Year 2026-2027 and thereafter by a factor equal to the annual percentage change in the San Diego Metropolitan Area Consumer Price Index for All Urban Consumers (CPI-U, All Items) or zero percent (0%), whichever is greater.

D. Method of Apportionment of the Special Tax
Commencing with Fiscal Year 2026-2027, and for each following Fiscal Year, the Council shall levy the Improvement Area C, Annexation No. 14, Special Tax at the rates established pursuant to steps 1 through 4 below so that the amount of the Special Tax levied equals the Special Tax Requirement. The Special Tax shall be levied each Fiscal Year as follows:

Step 1: Determine the revenue which could be generated by Parcels assigned to Category I by multiplying the Building Square Footage for Parcels classified as Residential Parcels by the Maximum Special Tax per Building Square Foot for the Resource Monitoring Program, and Preserve Operations and Maintenance for Parcels and adding to that the maximum revenue which could be generated by multiplying the total acres for Parcels classified as Non-Residential Parcels by the Maximum Special Tax per Acre for the Resource Monitoring Program and Preserve Operations and Maintenance.

Step 2: If the total revenue as calculated in Step 1 is greater than the estimated Special Tax Liability for Improvement Area C, reduce the Special Tax for each Parcel proportionately so that the Special Tax levy for the Fiscal Year is equal to the Special Tax Liability for the Fiscal Year.

Step 3: If the total revenue as calculated in Step 1 is less than the Special Tax Liability for Improvement Area C, a Special Tax shall be levied upon each Parcel within Improvement Area C, classified as Category II. The Special Tax for Parcels assigned to Category II shall be calculated as the lesser of:

The Special Tax Liability for Improvement Area C as determined by the City, less the total revenue generated for all Parcels under Step 1 above, divided by the total Acres for all Parcels within Improvement Area C assigned to Category II, OR
The Maximum Special Tax rate for Parcels assigned to Category II.

Step 4: If the total revenue as calculated in Step 1 and 3 is less than the Special Tax Liability, for Improvement Area C, a Special Tax shall be levied upon each Parcel within Improvement Area C

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 13 classified as Category III. The Special Tax for Parcels assigned the Category III shall be calculated as the lesser of:

The Special Tax Liability for Improvement Area C as determined by the City, less the total revenue generated for all Parcels under Step 1 and 3 above, divided by the total Acres for all Parcels within Improvement Area C assigned to Category III, OR
The Maximum Special Tax rate for Parcels assigned to Category III and within Improvement Area C.

However, in the event it is determined that the Special Tax Liability for Improvement Area C includes delinquent Special Taxes from Parcel in Category III from the prior Fiscal Year, the City shall determine the amount of delinquent taxes that arose from such Parcels and identify the owner(s). The amount of delinquent Special Taxes, if any, that arose from the applicable owner(s) shall first be divided by the total Category III Acres owned by such owner(s) and collected from the applicable owner(s) with the remaining portion of the Special Tax Liability not related to delinquent Special Taxes to be collected from all Parcels in Category III according to the procedure set forth in the preceding paragraph.

Notwithstanding the above, under no circumstances will the Special Tax levied against any Assessor’s Parcel of Residential Property or Multi-Family Property for which an occupancy permit for private residential use has been issued be increased by more than ten percent (10%) annually up to the Maximum Special Tax as a consequence of delinquency or default by the owner of any other Assessor's Parcel within Area C of the CFD.

E. Appeals
Any landowner or resident who pays the Special Tax and believes that the amount of the Special Tax levied on their Assessor’s Parcel is in error shall first consult with the CFD Administrator regarding such error. If following such consultation, the CFD Administrator determines that an error has occurred; the CFD Administrator may amend the amount of the Special Tax levied on such Assessor’s Parcel. If following such consultation and action, if any, by the CFD Administrator, the landowner or resident believes such error still exists; such person may file a written notice with the City Clerk of the City appealing the amount of the Special Tax levied on such Assessor’s Parcel. Upon the receipt of any such notice, the City Clerk shall forward a copy ofsuch notice to the City Manager who shall establish as part of the proceedings and administration of the CFD, a special three-member Review/Appeal Committee.

The Review/Appeal Committee may establish such procedures, as it deems necessary to undertake the review of any such appeal. The Review/Appeal Committee shall interpret this Rate and Method of Apportionment and make determinations relative to the annual administration of the Special Tax and any landowner or resident appeals, as herein specified. The decision of the Review/Appeal Committee shall be final and binding as to all persons.

F. Manner of Collection
Special Taxeslevied pursuant to Section D above shall be collected in the same manner and at the same time as ordinary ad valorem property taxes; provided, however, that the CFD Administrator may directly bill the Special Tax, may collect Special Taxes at a different time or in a different manner if necessary to meetthe financial obligations of Area C ofthe CFD or as otherwise determined appropriate by the CFD Administrator.

G. Term of Special Tax
Taxable Property in Improvement Area C of the CFD shall remain subject to the Special Tax in perpetuity.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 14 Attachment A
Description of PreserveOperations and Maintenance
Preserve Operations and Maintenance includes the maintenance, operation, and management of the public or private property within boundaries of the Otay Ranch Preserve, as such boundaries may be modified from time to time, required by the Resource Management Plan to be maintained as open space or habitat preservation land or both. Such maintenance, operations and management shall include, but not be limited to, the following:
(i) Preserve Maintenance. Development, implementation and ongoing provision of programs to maintain, operate and manage preserve habitat values through: cultivation, irrigation, trimming, spraying, fertilizing, and/or treatment of disease or injury; removal of trimmings, rubbish, debris and othersolid waste; maintenance of trails; removal and control of exotic plant species (weeds); and control of cowbirds through trapping. (ii) Security, Development, implementation and ongoing provision of security programsto: enforce "no trespassing" rules; curtail activitiesthat degrade resources, such as grazing, shooting, and illegal dumping; remove trash, litter, and other debris; control access; prohibit off-road traffic; and maintain fences and trails.
(iii) Preserve improvements: Acquire equipment and/or install improvements necessary to maintain, operate and manage the open space and habitat preservation land described above.

The above description of the Preserve Operations and Maintenance is general in nature. The actual maintenance, operations and management of the open space and habitat preservation land within the Otay Ranch Preserve may be modified from time to time as necessary in order to effectively provide such services in compliance with the requirements of the Resource Management Plan.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 15 Attachment B
Description of Resource Monitoring
Implement the annual biota monitoring and reporting program consistent with the Resource Management Plan to identify changes in the quality and quantity of preserve resources including wildlife species, sensitive plants and sensitive habitat types.

The above description of the Resource Monitoring is general in nature. The actual monitoring and reporting program may be modified from time to time as necessary in order to effectively provide such services consistent with the requirements of the Resource Management Plan.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

1 RESOLUTION NO. _____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

CHULA VISTA, CALIFORNIA, DECLARING ITS INTENTION
TO DESIGNATE IMPROVEMENT AREA “D” OF
COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE

MAINTENANCE DISTRICT) OF THE CITY OF CHULA VISTA,

COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ANNEX
TERRITORY AS ANNEXATION NO. 1 THERETO, AND

TAKING OTHER ACTIONS RELATED THERETO
(ANNEXATION NO. 1)
WHEREAS, the CITY COUNCIL of the CITY OF CHULA VISTA, CALIFORNIA, (“City Council”), formed a Community Facilities District and designated certain improvement areas therein pursuant to the terms and provisions of the “Mello-Roos Community Facilities Act of 1982”, being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of California (the “Act”), and the City of Chula Vista Community Facilities District Ordinance enacted pursuant to the powers reserved by the City of Chula Vista under Sections 3, 5 and 7 of Article XI of the Constitution of the State of California (the “Ordinance”) (the Act and the Ordinance may be referred to collectively as the “Community Facilities District Law”). The Community Facilities District has been designated as COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENANCE DISTRICT) OF THE CITY OF CHULA VISTA, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA (the “District”) and previous Improvement Areas were designated as IMPROVEMENT AREA “A,” IMPROVEMENT AREA “B” and IMPROVEMENT AREA “C” of such District; and
WHEREAS, the District was formed for the purpose of financing the monitoring, maintenance, operation and management of public property required to be maintained as open space or habitat preservation or both; and
WHEREAS, the City Council has received a written petition (the “Petition”) from the owner (the “Owner”) of certain real property included within the City (the “Territory”) requesting that the City Council initiate proceedings to annex the Territory into a new improvement area within the District to be designated as “Improvement Area D of Community Facilities District No. 97-2 (Preserve Maintenance District), of the City of Chula Vista, County of San Diego, State of California;” (the “Improvement Area”) and accordingly, the City Council further desires to designate such annexation as Annexation No. 1; and
WHEREAS, the Owner is the owner of more than ten percent (10%) of the property which is proposed to be included within the boundaries of the proposed Improvement Area; and WHEREAS, having received the Petition, the City Council is required to initiate proceedings to designate the Improvement Area and to annex Territory to the Improvement Area, set forth the boundaries for the Improvement Area, indicate the type of public services proposed to be financed by the Improvement Area, indicate the rate and method of apportionment of a special tax sufficient to finance the public services and the administration of the Improvement Area, and set a time and place for a public hearing relating to the designation of the Improvement Area and annexation of the Territory thereto; and

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

2 WHEREAS, accordingly, the City Council desires to initiate proceedings to consider the designation of the Improvement Area and annexation of the Territory thereto, and to designate such annexation as Annexation No. 1; and
WHEREAS, this legislative body now desires to proceed to adopt this Resolution of Intention to designate the Improvement Area and to annex the Territory to the Improvement Area, to describe the territory included within the Improvement Area and the Territory proposed to be annexed thereto, to specify the services to be financed from the proceeds of the levy of special taxes within the Territory, to set and specify the special taxes that would be levied within the Territory to finance such services, and to set a time and place for a public hearing relating to the designation of the Improvement Area and the annexation of the Territory to the Improvement Area; and
WHEREAS, a map showing the Territory proposed to be designated as the Improvement Area and Annexation No. 1 has been submitted, which map has been previously approved and a copy of the map shall be kept on file with the transcript of these proceedings.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista, that it declares its intention to designate Improvement Area D of Community Facilities District No. 97-2 (Preserve Maintenance District) of the City of Chula Vista, County of San Diego, State of California, and to authorize the annexation of the Territory thereto.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the foregoing recitals are true and correct, are incorporated herein by this reference, and the City Council hereby accepts the petition of the landowner to proceed with the designation of the Improvement Area and annexation of the Territory thereto.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that these proceedings for designating the Improvement Area and annexation are initiated by this City Council pursuant to the authorization of the Community Facilities District Law.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the City Council hereby determines that the public convenience and necessity requires that the Improvement Area is designated within the District and the Territory is annexed to the Improvement Area. The City Council further declares that additional territory in the future may annex into the Improvement Area.

A description of the boundaries and Territory proposed to be annexed is as follows:

All that Territory proposed to be designated the Improvement Area and annexed thereto, as such property is shown on a map as previously approved by this legislative body, such map entitled “Community Facilities District No. 97-2 Improvement Area D (Preserve Maintenance District), City of Chula Vista, County of San Diego, State of California” (the “Improvement Area Map”), a copy

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

3 of which is on file in the Office of the City Clerk and shall remain open for public inspection.

A general description of the territory included in the District is hereinafter described as follows:

All that property and territory as originally included within and previously annexed to the District, as such property is shown on maps of the original District and territory previously annexed as approved by this City Council and designated by the name of the original District. A copy of such maps are on file in the Office of the City Clerk and have also been filed in the Office of the County Recorder and are incorporated herein by this reference.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the improvement area proposed to be designated within the District shall be known as “IMPROVEMENT AREA “D” OF COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENANCE DISTRICT), OF THE CITY OF CHULA VISTA, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA.”
BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the services that are authorized to be financed by the District from the proceeds of special taxes levied within the Improvement Area are certain services which are in addition to those provided in or required for the territory within the District and will not be replacing services already available.

A general description of such services to be financed by the Improvement Area is as follows:

The actions necessary to implement and carry out the Eastlake Storage Mitigation Project Long-Term Management Plan (the “Long-Term Management Plan”) dated June 2025, prepared for the mitigation site located within the Salt Creek riparian corridor in the Otay Ranch Preserve (the “Mitigation Site”).

The activities required to be performed pursuant to the Long-Term Management Plan, include but are not limited to, the monitoring, maintenance, reporting, and adaptive management activities required under the Long-Term Management Plan for the Mitigation Site including but not limited to, invasive species control, trash removal, site access control, biological monitoring, reporting, and as-needed remedial or adaptive management actions necessary to ensure the long-term sustainability, habitat function, and regulatory compliance of preserve and mitigation areas following completion of initial mitigation and monitoring requirements.

The activities described above are limited to those discrete tasks identified in the Long-Term Management Plan and are intended to ensure the long-term sustainability and ecological function of the Mitigation Site in perpetuity following completion of initial mitigation and monitoring requirements.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

4 BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the District shall finance all direct and incidental costs, including but not limited to, the Administrative Expenses and Long-Term Management Reserve Fund (as such terms are defined in the Improvement Area “D” Rate and Method), and any other expenses necessary to provide such monitoring, maintenance, operation and management of such public property. The same types of services which are authorized to be financed by the District from the proceeds of special taxes levied within the Improvement Area are the types of services to be provided in the Territory. If and to the extent possible, such services shall be provided in common within the District and the Territory.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that it is the further intention of this City Council that, except where funds are otherwise available, a special tax sufficient to pay for such services and related incidental expenses authorized by the Community Facilities District Law, secured by recordation of a continuing lien against all nonexempt real property in the Territory, will be levied annually within the boundaries of such Territory. For further particulars as to the rate and method of apportionment of the proposed special tax, reference is made to the attached and incorporated Exhibit “A” (the “Improvement Area ‘D’ Rate and Method”), which sets forth in sufficient detail the method of apportionment to allow each landowner or resident within the proposed Territory to clearly estimate the maximum amount that such person will have to pay. The special tax proposed to be levied within the Territory shall be equal to the special tax levied to pay for the same services in the Improvement Area, except that a higher or lower special tax may be levied within the Territory to the extent that the actual cost of providing the services in the Territory is higher or lower than the cost of providing those services in the Improvement Area. Notwithstanding the foregoing, the special tax may not be levied at a rate which is higher than the maximum special tax authorized to be levied pursuant to the Improvement Area “D” Rate and Method. This section shall not be construed to limit the levy of a special tax within the Territory to be annexed or territory to be annexed in the future to provide new or additional services beyond those supplied within the existing territory of the District.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that the special taxes herein authorized, to the extent possible or unless otherwise determined by the CFD Administrator, shall be collected in the same manner as ad valorem property taxes and shall be subject to the same penalties, procedure, sale and lien priority in any case of delinquency as applicable for ad valorem taxes. Any special taxes that may not be collected on the County property tax roll shall be collected through a direct billing procedure by the CFD Administrator.

The maximum special tax rate in the District shall not be increased as a result of the annexation of the Territory to the Improvement Area.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that it will hold a public hearing and give notice as follows:

Public Hearing. NOTICE IS GIVEN THAT ON TUESDAY, JULY 14, 2026, AT THE HOUR OF 5:00 P.M., IN THE REGULAR MEETING PLACE OF THE LEGISLATIVE BODY, BEING THE COUNCIL CHAMBERS, 276 FOURTH

AVENUE, CHULA VISTA, CALIFORNIA, A PUBLIC HEARING WILL BE

HELD WHERE THIS LEGISLATIVE BODY WILL CONSIDER THE
AUTHORIZATION FOR DESIGNATING IMPROVEMENT AREA “D” AND THE

City of Chula Vista - City Council
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5 ANNEXATION OF THE TERRITORY TO THE DISTRICT AND THE

IMPROVEMENT AREA THERETO, THE PROPOSED RATE AND METHOD OF

APPORTIONMENT OF THE SPECIAL TAX TO BE LEVIED WITHIN THE

TERRITORY AND ALL OTHER MATTERS AS SET FORTH IN THIS
RESOLUTION OF INTENTION.

AT SUCH PUBLIC HEARING, THE TESTIMONY OF ALL INTERESTED

PERSONS FOR OR AGAINST THE DESIGNATION OF THE IMPROVEMENT

AREA AND THE ANNEXATION OF THE TERRITORY OR THE LEVYING OF SPECIAL TAXES WITHIN THE TERRITORY WILL BE HEARD.

AT SUCH PUBLIC HEARING, PROTESTS AGAINST THE PROPOSED

DESIGNATION OF THE IMPROVEMENT AREA AND THE ANNEXATION OF

THE TERRITORY, THE LEVY OF SPECIAL TAXES WITHIN THE TERRITORY

OR ANY OTHER PROPOSALS CONTAINED IN THIS RESOLUTION MAY BE MADE ORALLY BY ANY INTERESTED PERSON. ANY PROTESTS

PERTAINING TO THE REGULARITY OR SUFFICIENCY OF THE

PROCEEDINGS SHALL BE IN WRITING AND SHALL CLEARLY SET FORTH THE IRREGULARITIES OR DEFECTS TO WHICH OBJECTION IS MADE. ALL

WRITTEN PROTESTS SHALL BE FILED WITH THE CITY CLERK PRIOR TO THE TIME FIXED FOR THE PUBLIC HEARING. WRITTEN PROTESTS MAY

BE WITHDRAWN IN WRITING AT ANY TIME BEFORE THE CONCLUSION OF THE PUBLIC HEARING.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that it will provide notice of the time and place of the public hearing which shall be given by the City Clerk by publication in the legally designated newspaper of general circulation, said publication pursuant to Section 6061 of the Government Code, with said publication to be completed at least seven (7) days prior to the date set for the public hearing.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that if (a) 50% or more of the registered voters, or six (6) registered voters, whichever is more, residing within the Improvement Area of the District, (b) 50% or more of the registered voters, or six (6) registered voters, whichever is more, residing within the Territory, (c) owners of one-half or more of the area of land in the territory included in the Improvement Area of the District, or (d) owners of one-half or more of the area of land included in the Territory, file written protests against the proposed designation of the Improvement Area or the annexation of the Territory to the Improvement Area of the District in the future and such protests are not withdrawn so as to reduce the protests to less than a majority, no further proceedings shall be undertaken for a period of one year from the date of the decision by the City Council on the issue discussed at the public hearing.

BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that it will conduct an election if upon the conclusion of the public hearing, if the legislative body determines to proceed with the designation of the Improvement Area and the annexation of the Territory, a proposition shall be submitted to the qualified electors of the Territory. The vote shall be by registered voters within the Territory; provided, however, if there are less than 12 registered voters, the vote shall be by landowners, with each landowner having one vote per acre or portion thereof within the Territory.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

6 BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that this Resolution shall take effect immediately upon its adoption.

PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California at a regular meeting held this 19th day of May 2026.

PREPARED BY: APPROVED AS TO FORM BY:

Roy Sapa’u Marco A. Verdugo
Deputy City Manager/ City Attorney
Development Services Director

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

7 PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California, this 19th day of May 2026 by the following vote:

AYES: Councilmembers:

NAYS: Councilmembers:

ABSENT: Councilmembers:

John McCann, Mayor
ATTEST:

STATE OF CALIFORNIA )

COUNTY OF SAN DIEGO )

CITY OF CHULA VISTA )
I, Kerry K. Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing Resolution No. 2026-____ was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 19th day of May 2026.

Executed this 19th day of May 2026.

Kerry K. Bigelow, MMC, City Clerk

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

8 EXHIBIT “A”
IMPROVEMENT AREA “D” OF COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENANCE DISTRICT), OF THE CITY OF CHULA VISTA,

COUNTY OF SAN DIEGO, STATE OF CALIFORNIA
Rate and Method of Apportionment of Special Taxes

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

9 Rate and Method of Apportionment of Special Tax
City of Chula Vista Community Facilities District No. 97-2 (PRESERVE MAINTENANCE DISTRICT)
Improvement Area D
A Special Tax of Community Facilities District No. 97-2 (Preserve Maintenance District) of the City of Chula Vista ("CFD") shall be levied on all Assessor's Parcels in Improvement Area D of the CFD and collected each Fiscal Year commencing with Fiscal Year 2025-2026 in an amount determined through the application of the rate and method of apportionment of the Special Tax set forth below. All of the real property within Improvement Area D of the CFD, unless exempted by law or by the provisions hereof, shall be taxed for the purposes, to the extent and in the manner herein provided.

A. Definitions
The terms hereinafter set forth have the following meanings:
"Acre or Acreage" meansthe land area of an Assessor’s Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor's Parcel Map, the land area shown on the applicable Final Subdivision Map, other final map, other parcel map, other condominium plan, or functionally equivalent map or instrument recorded in the Office of the County Recorder. The Acreage of a Parcel shall be calculated to the nearest one-hundredth (1/100) of an acre. The square footage of an Assessor's Parcel is equal to the Acreage multiplied by 43,560.
"Act" means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2 of Title 5 of the Government Code of the State of California. "Administrative Expenses" means the actual or estimated costs incurred by the City, acting for and on behalf of the CFD asthe administrator thereof, to determine, levy and collect the Special Taxes, including salaries of City employees and a proportionate amount of the City’s general administrative overhead related thereto, and the fees of consultants and legal counsel providing services related to the administration of the CFD; the costs of collecting installments of the Special Taxes; and any other costs required to administer Area D of the CFD as determined by the City.
"Assessor's Parcel" or “Parcel” means a lot or parcel shown in an Assessor's Parcel Map with an assigned assessor's parcel number.
"Assessor's Parcel Map" means an official map of the Assessor of the County designating parcels by assessor's parcel number.
"CFD Administrator" means an official of the City, or designee thereof, responsible for determining the Special Tax Requirement and providing for the levy and collection of the Special Taxes. "CFD" means Community Facilities District No. 97-2 (Preserve Maintenance District) of the City of Chula Vista. "City" meansthe City of Chula Vista.
"City Clerk" meansthe City Clerk for the City of Chula Vista or his or her designee. "City Manager" meansthe City Manager for the City of Chula Vista or his or her designee. "Council" means the City Council of the City of Chula Vista, acting as the legislative body of the CFD. "County" meansthe County of San Diego, California.
"Fiscal Year" meansthe period starting July 1 and ending on the following June 30.

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May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

10 "Improvement Area D" or "Area D" means Improvement Area D of the CFD, as identified on the boundary map for the CFD as amended from time to time.
“Initial Maintenance Period” means a minimum period of five (5) Fiscal Years commencing with Fiscal Year 2026-2027 until the Fiscal Year in which the City formally accepts the public improvements associated with Improvement Area D, for ongoing long-term management and periodic costs. During this period, the Special Taxmay be levied at a reduced level, as determined by the City,forthe purpose of partially funding maintenance obligations and establishing a Long-Term Management Reserve Fund to support long-term management costs. "Long-TermManagement Plan"meansthe “Eastlake StorageMitigationProject Long-Term Management Plan” dated June 2025, prepared for the mitigation site located within the Salt Creek riparian corridor in the Otay Ranch Preserve (the “Mitigation Site”),
"Long-Term Management Program" means the perpetual management, maintenance, monitoring, reporting, and adaptive management activities required to be performed pursuant to the applicable Long- Term Management Plan, including but not limited to, invasive species control, trash removal, site access control, biological monitoring, reporting, and as-needed remedial or adaptive management actions necessary to ensure the long-term sustainability, habitat function, and regulatory compliance of preserve and mitigation areas following completion of Initial Maintenance Period and monitoring requirements. "Long-Term Management Fund Requirement" means, for any Fiscal Year, an amount equal to the Improvement Area D’s fair share of the budgeted costs of the Long-Term Management Program. Each Improvement Area’s “fair share” shall be based on its proportionate benefit, acreage, or other allocation methodology as determined in accordance with the applicable Rate and Method of Apportionment. “Long-Term Management Reserve Fund” means, fund established and maintained by the CFD to accumulate amounts over time to pay for periodic, non-annual, and as-needed costs of the Long-Term Management Program that are not incurred on an annual basis, including, without limitation, adaptive management measures, remedial actions, revegetation, increased monitoring,repair orreplacement of site improvements, to the extent such costs are identified in the Long-Term Management Plan as occurring on a periodic or asneeded basis. “Long-Term Management Reserve Fund Requirement” means, for any Fiscal Year, the amount determined by the CFD Administrator to be deposited into the Long-Term Management Reserve Fund, based on the annualized costs of periodic and non-annual activities identified in the Long-Term Management Plan, such that sufficient funds are available when such costs are incurred. "Management Fund" means a fund that shall be maintained within the CFD for each Fiscal Year to pay the costs of the Long-Term Management Program for the Mitigation Site, including ongoing management, maintenance, monitoring, reporting, and adaptive management activities, together with applicable Administrative Expenses.
"Maximum Special Tax" means the maximum Special Tax, determined in accordance with Section C below that may be levied in any Fiscal Year on any Assessor’s Parcel of Taxable Property. "Special Tax" meansthe Special Tax levied pursuant to the provisions ofsections C and D below in each Fiscal Year on each Assessor's Parcel of Developed Property and Undeveloped Property in Area D to fund the Special Tax Requirement.
"Special Tax Requirement" means for any Fiscal Year for Area D the amount required to be levied in such Fiscal Year to: (i) pay the Long-Term Management Fund Requirement; (ii) pay any amounts required to establish or replenish the Long-Term Management Reserve Fund to the Long-Term Management Reserve Fund Requirement; and (iii) Administrative Expenses; and (iv) pay for reasonably anticipated delinquent Special Taxes based on the delinquency rate for Special Taxes levied in the previous Fiscal Year.

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May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

11 "State" meansthe State of California.
"Taxable Property" means all of the Assessor's Parcels within the boundaries of Area D of the CFD that are not exempt from the Special Tax pursuant to law or as defined below.

B. Assignment to Categories of Special Tax
Each Fiscal Year, using the definitions above, all property within Improvement Area D of the CFD shall be classified as Taxable Property or Exempt Property. Taxable Property shall be subject to Special Taxes pursuant to Sections C and D below.

C. Maximum Special Tax Rate
Taxable Category
The Maximum Special Tax for Fiscal Year 2025-2026 are the rates set forth in Table 1 below.

TABLE 1
Maximum Special Tax
Community Facilities District No. 97-2 Improvement Area D (Fiscal Year 2025-2026)
Long Term
Management Fund
Requirement
Long Term
Management Reserve
Fund Requirement &
Administrative
Expenses
Total Long-Term
Management Program
Costs
$990 / acre $473 / acre $1,463 / acre
Exempt Category
The Exempt Category includes each property owned, conveyed or irrevocably offered for dedication to a public agency, or land which is in the public right-of-way, unmanned utility easements which make utilization for other than the purpose set forth in the easement impractical, common areas, private streets and parks, and open space lots, and any property that is otherwise exempt from the levy of special taxes pursuant to Government Code Section 53340(c) (“Exempt Category”).

Annual Escalation of Maximum Special Tax
The Maximum Special Tax as shown in the tables above that may be levied on each Assessor’s Parcel in Improvement Area D, shall be increased each Fiscal Year beginning in Fiscal Year 2026-2027 and thereafter by a factor equal to the annual percentage change in the San Diego Metropolitan Area Consumer Price Index for All Urban Consumers (CPI-U, All Items) or zero percent (0%), whichever is greater.

D. Method of Apportionment of the Special Tax
During the Initial Maintenance Period
During the Initial Maintenance Period, the Special Tax shall be levied at a reduced level, as determined annually by the City, sufficient to fund a portion of the Special Tax Requirement and to establish and build the Long-Term Management Reserve Fund. The City shall determine the percentage of the Maximum

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

12 Special Tax to be levied each Fiscal Year during the Initial Maintenance Period based on anticipated future maintenance costs and required reserve levels, and annual Administrative Expenses, provided the Special Tax during the Initial Maintenance Period shall not exceed the Special Tax Requirement each Fiscal. The Special Tax shall be apportioned to Parcels in accordance with the methodology set forth in Steps 1 through 3 below, after applying such reduced levy.

Following the Initial Maintenance Period
Commencing in the first Fiscal Year following the Initial Maintenance Period, the Special Tax shall be levied up to the full amount necessary to fund the Special Tax Requirement and shall be apportioned to Parcels in accordance with Steps 1 through 3 below.

Step 1: Determine the maximum revenue that could be generated by applying the Maximum Special Tax rates set forth in Table 1 (as such rates may be annually escalated pursuant to Section C) to all Parcels.

Step 2: If the total revenue calculated in Step 1 is greater than the Special Tax Requirement for Improvement Area D, reduce the Special Tax for each Parcel proportionately so that the total Special Tax levy for the Fiscal Year is equal to the Special Tax Requirement.

Step 3: In the event that the Special Tax Requirement for Improvement Area D includes amounts attributable to delinquent Special Taxes from the prior Fiscal Year, the City shall determine the amount of such delinquent Special Taxes and may identify the Parcels and owners associated with such delinquencies. To the extent permitted by law, the City may levy and collect such delinquent amounts from the applicable Parcels and/or owners. Any remaining portion of the Special Tax Requirement shall be allocated and levied in accordance with Steps 1 through 2 above.

Notwithstanding the above, under no circumstances will the Special Tax levied against any Assessor’s Parcel be increased by more than ten percent (10%) annually up to the Maximum Special Tax as a consequence of delinquency or default by the owner of any other Assessor's Parcel within Area D of the CFD.

E. Appeals
Any landowner or resident who pays the Special Tax and believes that the amount of the Special Tax levied on their Assessor’s Parcel is in error shall first consult with the CFD Administrator regarding such errors. If following such consultation, the CFD Administrator determines that an error has occurred; the CFD Administrator may amend the amount of the Special Tax levied on such Assessor’s Parcel. If following such consultation and action, if any, by the CFD Administrator, the landowner or resident believes such error still exists; such person may file a written notice with the City Clerk of the City appealing the amount of the Special Tax levied on such Assessor’s Parcel. Upon receipt of any such notice, the City Clerk shall forward a copy of such notice to the City Manager who shall establish as part of the proceedings and administration of the CFD, a special three-member Review/Appeal Committee. The Review/Appeal Committee may establish such procedures, as it deems necessary to undertake review of any such appeal. The Review/Appeal Committee shall interpret this Rate and Method of Apportionment and make determinations relative to the annual administration of the Special Tax and any landowner or resident appeals, as herein specified. The decision of the Review/Appeal Committee shall be final and binding to all persons.

F. Manner of Collection
Special Taxes levied pursuant to Section D above shall be collected in the same manner and at the same time as ordinary ad valorem property taxes; provided, however, that the CFD Administrator may directly bill the Special Tax, may collect Special Taxes at a different time or in a different manner if necessary to meet the financial obligations of Area D of the CFD or as otherwise determined appropriate by the CFD Administrator.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 13 G. Term of Special Tax
Taxable Property in Improvement Area D of the CFD shallremain subject to the Special Tax in perpetuity.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 14 Attachment A
Description of Long-Term Management Plan
Implementthemonitoring,maintenance,reporting, andadaptivemanagement activitiesrequiredunder the Long-Term Management Plan forthe Salt Creek Mitigation Site including but not limited to, invasive species control, trash removal, site access control, biological monitoring, reporting, and as-needed remedial or adaptive management actions necessary to ensure the long-term sustainability, habitat function, and regulatory compliance of preserve and mitigation areas following completion of initial mitigation and monitoring requirements.

The activities described above are limited to those discrete tasks identified in the Long-Term Management Plan and are intended to ensure the long-termsustainability and ecological function ofthe Mitigation Site in perpetuity following completion of initial mitigation and monitoring requirements.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda T1
ÄÆ125
Willowbrook Ct
Kuhn Dr
Meadowbrook Ln
Shoreview Pl
Genevieve Ave
Saint Germain Rd
Lafayette Pl
Lakeridge Cir
Bluewater Ln
Eastshore Ter
Crosscreek Rd
Brookstone Rd
S Shore Dr
Waterside Dr
Miller Dr
Ridgewater Dr
Chateau Ct
Lakeshore Dr
Eastlake Dr
ANNEXATION MAP NO. 14
COMMUNITY FACILITIES DISTRICT NO. 97-2

IMPROVEMENT AREA D
(PRESERVE MAINTENANCE DISTRICT)

CITY OF CHULA VISTA

COUNTY OF SAN DIEGO, STATE OF CALIFORNIA
.

HARRIS & ASSOCIATES
101 PROGRESS, SUITE 250
IRVINE, CALIFORNIA 92618
800-827-4901
Palm Ave
Telegraph Canyon Rd
Otay Lakes Rd
Olympic Pkwy
ÄÆ54
ÄÆ125
§¨¦805
SITE
VICINITY MAP SHEET 1 OF 1
Legend

ANNEXATION BOUNDARY

MAP REFERENCE NUMBER
Parcels

MAP REFERENCE
NUMBER

ASSESSOR'S

PARCEL NUMBER
1 595-070-82

FILED IN THE OFFICE OF THE CITY CLERK OF THE CITY OF CHULA VISTA THIS _______ DAY ___________, 20__.
__________________________________________

CITY CLERK

CITY OF CHULA VISTA

STATE OF CALIFORNIA

I HEREBY CERTIFY THAT THE WITHIN MAP SHOWING PROPOSED BOUNDARIES OF ANNEXATION MAP NO. 14 TO COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE

MAINTENANCE DISTRICT), IMPROVEMENT AREA D, OF THE CITY OF CHULA VISTA,

COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, WAS APPROVED BY THE CITY

COUNCIL OF THE CITY OF CHULA VISTA AT A REGULAR MEETING THEREOF, HELD ON THE ________ DAY OF ___________,20__, BY ITS RESOLUTION NO. _________. __________________________________________

CITY CLERK

CITY OF CHULA VISTA

STATE OF CALIFORNIA
FILED THIS ______ DAY OF ___________, 20__ AT THE HOUR OF _____ O'CLOCK __.M.

IN BOOK _______, PAGE _____ OF MAPS OF ASSESSMENT AND COMMUNITY

FACILITIES DISTRICTS IN THE OFFICE OF THE COUNTY RECORDER IN THE COUNTY OF SAN DIEGO, CALIFORNIA.
___________________________________

COUNTY RECORDER

COUNTY OF SAN DIEGO

STATE OF CALIFORNIA

THE LINES AND DIMENSIONS OF EACH LOT OR PARCEL ENCOMPASSED BY THIS

MAP SHALL BE THOSE LINES AND DIMENSIONS AS SHOWN ON THE SAN DIEGO COUNTY ASSESSOR'S MAPS.

THE SAN DIEGO COUNTY ASSESSOR'S MAPS SHALL GOVERN FOR ALL DETAILS CONCERNING THE LINES AND DIMENSIONS OF SUCH LOTS OR PARCELS.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda T1
ÄÆ125
Willowbrook Ct
Kuhn Dr
Meadowbrook Ln
Shoreview Pl
Genevieve Ave
Saint Germain Rd
Lafayette Pl
Lakeridge Cir
Bluewater Ln
Eastshore Ter
Crosscreek Rd
Brookstone Rd
S Shore Dr
Waterside Dr
Miller Dr
Ridgewater Dr
Chateau Ct
Lakeshore Dr
Eastlake Dr
ANNEXATION MAP NO. 14
COMMUNITY FACILITIES DISTRICT NO. 97-2

IMPROVEMENT AREA D
(PRESERVE MAINTENANCE DISTRICT)

CITY OF CHULA VISTA

COUNTY OF SAN DIEGO, STATE OF CALIFORNIA
.

HARRIS & ASSOCIATES
101 PROGRESS, SUITE 250
IRVINE, CALIFORNIA 92618
800-827-4901
Palm Ave
Telegraph Canyon Rd
Otay Lakes Rd
Olympic Pkwy
ÄÆ54
ÄÆ125
§¨¦805
SITE
VICINITY MAP SHEET 1 OF 1
Legend

ANNEXATION BOUNDARY

MAP REFERENCE NUMBER
Parcels

MAP REFERENCE
NUMBER

ASSESSOR'S

PARCEL NUMBER
1 595-070-82

FILED IN THE OFFICE OF THE CITY CLERK OF THE CITY OF CHULA VISTA THIS _______ DAY ___________, 20__.
__________________________________________

CITY CLERK

CITY OF CHULA VISTA

STATE OF CALIFORNIA

I HEREBY CERTIFY THAT THE WITHIN MAP SHOWING PROPOSED BOUNDARIES OF ANNEXATION MAP NO. 14 TO COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE

MAINTENANCE DISTRICT), IMPROVEMENT AREA D, OF THE CITY OF CHULA VISTA,

COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, WAS APPROVED BY THE CITY

COUNCIL OF THE CITY OF CHULA VISTA AT A REGULAR MEETING THEREOF, HELD ON THE ________ DAY OF ___________,20__, BY ITS RESOLUTION NO. _________. __________________________________________

CITY CLERK

CITY OF CHULA VISTA

STATE OF CALIFORNIA
FILED THIS ______ DAY OF ___________, 20__ AT THE HOUR OF _____ O'CLOCK __.M.

IN BOOK _______, PAGE _____ OF MAPS OF ASSESSMENT AND COMMUNITY

FACILITIES DISTRICTS IN THE OFFICE OF THE COUNTY RECORDER IN THE COUNTY OF SAN DIEGO, CALIFORNIA.
___________________________________

COUNTY RECORDER

COUNTY OF SAN DIEGO

STATE OF CALIFORNIA

THE LINES AND DIMENSIONS OF EACH LOT OR PARCEL ENCOMPASSED BY THIS

MAP SHALL BE THOSE LINES AND DIMENSIONS AS SHOWN ON THE SAN DIEGO COUNTY ASSESSOR'S MAPS.

THE SAN DIEGO COUNTY ASSESSOR'S MAPS SHALL GOVERN FOR ALL DETAILS CONCERNING THE LINES AND DIMENSIONS OF SUCH LOTS OR PARCELS.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 1 Rate and Method of Apportionment of Special Tax
City of Chula Vista Community Facilities District No. 97-2 (PRESERVE MAINTENANCE DISTRICT)
Improvement Area C
Annexation No. 14
A Special Tax of Community Facilities District No. 97-2 (Preserve Maintenance District) of the City of Chula Vista ("CFD") shall be levied on all Assessor's Parcels in Annexation No. 14 of Improvement Area C of the CFD and collected each Fiscal Year commencing with Fiscal Year 2025-2026 in an amount determined through the application of the rate and method of apportionment of the Special Tax set forth below. All of the real property within Annexation No. 14 of Improvement Area C of the CFD, unless exempted by law or by the provisions hereof, shall be taxed for the purposes, to the extent and in the manner herein provided.

A. Definitions
The terms hereinafter set forth have the following meanings:
"Acre or Acreage" means the land area of an Assessor’s Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor's Parcel Map, the land area shown on the applicable Final Subdivision Map, other final map, other parcel map, other condominium plan, or functionally equivalent map or instrument recorded in the Office of the County Recorder. The Acreage of a Parcel shall be calculated to the nearest one-hundredth (1/100) of an acre. The square footage of an Assessor's Parcel is equal to the Acreage multiplied by 43,560.
"Act" means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2 of Title 5 of the Government Code of the State of California. "Administrative Expenses" means the actual or estimated costs incurred by the City, acting for and on behalf of the CFD as the administrator thereof, to determine, levy and collect the Special Taxes, including salaries of City employees and a proportionate amount of the City’s general administrative overhead related thereto, and the fees of consultants and legal counsel providing services related to the administration of the CFD; the costs of collecting installments of the Special Taxes; and any other costs required to administer Area C of the CFD as determined by the City. "Assessor's Parcel" or “Parcel” means a lot or parcel shown in an Assessor's Parcel Map with an assigned assessor's parcel number.
"Assessor's Parcel Map" means an official map of the Assessor of the County designating parcels by assessor's parcel number.
"Building Square Foot or Square Footage" means the square footage as shown on an Assessor’s Parcel’s building permit of Residential Property excluding garages or other structures not used as living space.
"CFD Administrator" means an official of the City, or designee thereof, responsible for determining the Special Tax Requirement and providing for the levy and collection of the Special Taxes. "CFD" means Community Facilities District No. 97-2 (Preserve Maintenance District) of the City of Chula Vista.
"City" means the City of Chula Vista.
"City Clerk" means the City Clerk for the City of Chula Vista or his or her designee. "City Manager" means the City Manager for the City of Chula Vista or his or her designee.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 2 "Community Purpose Facility Property" or "CPF Property" means all Assessor’s Parcels which are classified as community purpose facilities and meet the requirements of City of Chula Vista Ordinance No. 2883. In the event that Chula Vista Ordinance No. 2883 is repealed, CPF Property means all Assessor’s Parcels which are classified as community purpose facilities as defined in the Chula Vista Municipal Code Section 19.48.025.C (as amended from time to time). "Council" means the City Council of the City of Chula Vista, acting as the legislative body of the CFD. "County" means the County of San Diego, California.
"Developed Property" means all Taxable Property for which a building permit was issued prior to the March 1st preceding the Fiscal Year in which the Special Tax is being levied. "Final Map Property" means any residential lot or non-residential lot created by a Final Subdivision Map, but which is not classified as Developed Property. "Final Subdivision Map" means a subdivision of property creating residential or non-residential buildable lots by recordation of a final subdivision map or parcel map pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq.), or recordation of a condominium plan pursuant to California Civil Code 1352, that creates individual lots for which building permits may be issued without further subdivision and is recorded prior to March 1 preceding the Fiscal Year in which the Special Tax is being levied.
"Fiscal Year" means the period starting July 1 and ending on the following June 30. "Improvement Area C" or "Area C" means Improvement Area C of the CFD, as identified on the boundary map for the CFD as amended from time to time.
"Land Use Class" means any of the classes listed in Table 1, Table 2, or Table 3. "Maximum Special Tax" means the maximum Special Tax, determined in accordance with Section C below that may be levied in any Fiscal Year on any Assessor’s Parcel of Taxable Property. "Non-Residential Property" means all Assessor’s Parcels of Developed Property for which a building permit(s) has been issued for a structure or structures for non-residential use. "Operating Fund" means a fund that shall be maintained within the CFD for each Fiscal Year to pay for Resource Monitoring and/or Preserve Operations and Maintenance activities and Administrative Expenses.
"Operating Fund Balance" means the amount of funds in the Operating Fund at the end of the preceding Fiscal Year.
"Operating Fund Requirement" means for any Fiscal Year an amount equal to the Resource Monitoring Fund Requirement and the Preserve Operations and Maintenance Fund Requirement for the current Fiscal Year in which Special Taxes are levied.
"Preserve Operations and Maintenance" means those activities described in Attachment A hereto which is incorporated herein by this reference.
"Preserve Operations and Maintenance Fund Requirement" means for any Fiscal Year an amount equal to the budgeted costs for Preserve Operations and Maintenance plus a pro-rata share of the budgeted Administrative Expenses of the District for the current Fiscal Year in which Special Taxes are levied.
"Reserve Fund" means a fund that shall be maintained for the CFD each Fiscal Year to provide necessary cash flow for the first six months of each Fiscal Year, working capital to cover monitoring, maintenance and repair cost overruns and delinquencies in the payment of Special Taxes and a reasonable buffer to prevent large variations in annual Special Tax levies.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 3 "Reserve Fund Requirement" means an amount equal to up to 100% of the Operating Fund Requirement for any Fiscal Year.
"Residential Property" means all Assessor’s Parcels of Developed Property for which a building permit(s) has been issued for purposes of constructing one or more residential dwelling unit. "Resource Management Plan" means the Otay Ranch Phase 1 Resource Management Plan also referred to as “The Otay Ranch Resource Management Plan” dated October 28, 1993, and the Otay Ranch Phase 2, Resource Management Plan dated June 4, 1996, as both such plans may be amended from time to time.
"Resource Monitoring Program" means those described in Attachment B hereto which is incorporated herein by this reference.
"Resource Monitoring Fund Requirement" means for any Fiscal Year an amount for each Improvement Area equal to the Improvement Area’s fair share of the budgeted costs of the Resource Monitoring Program plus a pro rata share of the budgeted Administrative Expenses of the CFD for the current Fiscal Year in which Special Taxes are levied. Improvement Area C’s “fair share” shall be based on Improvement Area C’s percentage of the total acreage within the Otay Ranch General Development Plan Planning Area for which a Resource Monitoring Program funding mechanism has been established. "Special Tax" means the Special Tax levied pursuant to the provisions of sections C and D below in each Fiscal Year on each Assessor's Parcel of Developed Property and Undeveloped Property in Area C to fund the Special Tax Requirement.
"Special Tax Requirement" means that amount required in any Fiscal Year for Area C to: (i) pay the Resource Monitoring Fund Requirement, and Preserve Operations and Maintenance Fund Requirement, less the Operating Fund Balance, and (ii) pay any amounts required to establish or replenish the Reserve Fund to the Reserve Fund Requirement; (iii) pay for reasonably anticipated delinquent Special Taxes based on the delinquency rate for Special Taxes levied in the previous Fiscal Year.
"State" means the State of California.
"Taxable Property" means all of the Assessor's Parcels within the boundaries of Area C of the CFD that are not exempt from the Special Tax pursuant to law or as defined below. "Undeveloped Property" means, for each Fiscal Year, all Taxable Property not classified as Developed Property.

B. Assignment to Categories of Special Tax
Each Fiscal Year using the definitions above, all Taxable Property within Annexation No. 14 of Improvement Area C of the CFD shall be classified as Category I, Category II, Category III or Exempt as defined in Section C. The Taxable Property shall further be classified as Developed Property, Final Map Property or Undeveloped Property and shall be subject to Special Taxes pursuant to Sections C and D below. Developed Property shall be further assigned to a Land Use Class as specified in Table 1.

C. Maximum Special Tax Rate
Category I
Category I includes Developed Property within the District (“Category I”).

The Maximum Special Tax for the Resource Monitoring Program and Preserve Operations and Maintenance for Fiscal Year 2025-2026 on Developed Property are the rates set forth in Table 1 below.

For Residential Property, the Special Tax shall be levied based upon Building Square Footage and for

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 4 Non-Residential Property shall be levied based on Acreage.

TABLE 1
Maximum Special Tax for Category I
Community Facilities District No. 97-2 Improvement Area C (Fiscal Year 2025-2026)
Description Resource Monitoring
Operation &
Maintenance Total
Residential $0.0096 / square foot $0.0153 / square foot $0.0249 / square foot Non- Residential $157.06 / acre $249.34 / acre $406.40 / acre Category II
Category II includes each Assessor’s Parcel of Taxable Property within the District for which a Final Map has been recorded, but which is not classified as a Developed Parcel (“Category II”).

The Maximum Special Tax for the Resource Monitoring Program, and Preserve Operations and Maintenance approved for Fiscal Year 2025-2026 on each Assessor’s Parcel in Category II is the rate set forth in Table 2 below (said amount to be levied pro rata for any portion of an Acre).

TABLE 2
Maximum Special Tax for Category II
Community Facilities District No. 97-2 Improvement Area C (Fiscal Year 2025-2026)
Resource Monitoring Operation & Maintenance Total
$157.06 / acre $249.34 / acre $406.40 / acre
Category III
Category III includes each Assessor’s Parcel of Taxable Property within the District not subject to Special Tax under any other category (“Category III”).

The Maximum Special Tax approved for Fiscal Year 2025-2026 on Taxable Property within Category III is the rate set forth in Table 3 below (said amount to be levied pro rata for any portion of an Acre).

TABLE 3
Maximum Special Tax for Category III
Community Facilities District No. 97-2 Improvement Area C (Fiscal Year 2025-2026)
Resource Monitoring Operation & Maintenance Total
$101.37 / acre $160.94 / acre $262.31 / acre

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 5 Exempt Category
The Exempt Category includes each property owned, conveyed or irrevocably offered for dedication to a public agency, or land which is in the public right-of-way, unmanned utility easements which make utilization for other than the purpose set forth in the easement impractical, common areas, private streets and parks, and open space lots, and any property that is otherwise exempt from the levy of special taxes pursuant to Government Code Section 53340(c) (“Exempt Category”).

Special Cases
In some instances, an Assessor’s Parcel of Developed Property may contain more than one Land Use Class and be considered “Special Case”. The Maximum Special Tax that may be levied on an Assessor’s Parcel identified as Special Case shall be the sum of the Maximum Special Tax levies that may be levied on all Land Use Classes located on that Assessor’s Parcel. The CFD Administrator shall determine the allocation to each Land Use Class.

Annual Escalation of Maximum Special Tax
The Maximum Special Tax as shown in the tables above that may be levied on each Assessor’s Parcel in Improvement Area C, Annexation No. 14, shall be increased each Fiscal Year beginning in Fiscal Year 2026-2027 and thereafter by a factor equal to the annual percentage change in the San Diego Metropolitan Area Consumer Price Index for All Urban Consumers (CPI-U, All Items) or zero percent (0%), whichever is greater.

D. Method of Apportionment of the Special Tax
Commencing with Fiscal Year 2026-2027, and for each following Fiscal Year, the Council shall levy the Improvement Area C, Annexation No. 14, Special Tax at the rates established pursuant to steps 1 through 4 below so that the amount of the Special Tax levied equals the Special Tax Requirement. The Special Tax shall be levied each Fiscal Year as follows:

Step 1: Determine the revenue which could be generated by Parcels assigned to Category I by multiplying the Building Square Footage for Parcels classified as Residential Parcels by the Maximum Special Tax per Building Square Foot for the Resource Monitoring Program, and Preserve Operations and Maintenance for Parcels and adding to that the maximum revenue which could be generated by multiplying the total acres for Parcels classified as Non-Residential Parcels by the Maximum Special Tax per Acre for the Resource Monitoring Program and Preserve Operations and Maintenance.

Step 2: If the total revenue as calculated in Step 1 is greater than the estimated Special Tax Liability for Improvement Area C, reduce the Special Tax for each Parcel proportionately so that the Special Tax levy for the Fiscal Year is equal to the Special Tax Liability for the Fiscal Year.

Step 3: If the total revenue as calculated in Step 1 is less than the Special Tax Liability for Improvement Area C, a Special Tax shall be levied upon each Parcel within Improvement Area C, classified as Category II. The Special Tax for Parcels assigned to Category II shall be calculated as the lesser of:

The Special Tax Liability for Improvement Area C as determined by the City, less the total revenue generated for all Parcels under Step 1 above, divided by the total Acres for all Parcels within Improvement Area C assigned to Category II, OR
The Maximum Special Tax rate for Parcels assigned to Category II.

Step 4: If the total revenue as calculated in Step 1 and 3 is less than the Special Tax Liability, for Improvement Area C, a Special Tax shall be levied upon each Parcel within Improvement Area C classified as Category III. The Special Tax for Parcels assigned the Category III shall be calculated as the

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 6 lesser of:

The Special Tax Liability for Improvement Area C as determined by the City, less the total revenue generated for all Parcels under Step 1 and 3 above, divided by the total Acres for all Parcels within Improvement Area C assigned to Category III, OR
The Maximum Special Tax rate for Parcels assigned to Category III and within Improvement Area C.

However, in the event it is determined that the Special Tax Liability for Improvement Area C includes delinquent Special Taxes from Parcel in Category III from the prior Fiscal Year, the City shall determine the amount of delinquent taxes that arose from such Parcels and identify the owner(s). The amount of delinquent Special Taxes, if any, that arose from the applicable owner(s) shall first be divided by the total Category III Acres owned by such owner(s) and collected from the applicable owner(s) with the remaining portion of the Special Tax Liability not related to delinquent Special Taxes to be collected from all Parcels in Category III according to the procedure set forth in the preceding paragraph.

Notwithstanding the above, under no circumstances will the Special Tax levied against any Assessor’s Parcel of Residential Property or Multi-Family Property for which an occupancy permit for private residential use has been issued be increased by more than ten percent (10%) annually up to the Maximum Special Tax as a consequence of delinquency or default by the owner of any other Assessor's Parcel within Area C of the CFD.

E. Appeals
Any landowner or resident who pays the Special Tax and believes that the amount of the Special Tax levied on their Assessor’s Parcel is in error shall first consult with the CFD Administrator regarding such error. If following such consultation, the CFD Administrator determines that an error has occurred; the CFD Administrator may amend the amount of the Special Tax levied on such Assessor’s Parcel. If following such consultation and action, if any, by the CFD Administrator, the landowner or resident believes such error still exists; such person may file a written notice with the City Clerk of the City appealing the amount of the Special Tax levied on such Assessor’s Parcel. Upon the receipt of any such notice, the City Clerk shall forward a copy of such notice to the City Manager who shall establish as part of the proceedings and administration of the CFD, a special three-member Review/Appeal Committee.

The Review/Appeal Committee may establish such procedures, as it deems necessary to undertake the review of any such appeal. The Review/Appeal Committee shall interpret this Rate and Method of Apportionment and make determinations relative to the annual administration of the Special Tax and any landowner or resident appeals, as herein specified. The decision of the Review/Appeal Committee shall be final and binding as to all persons.

F. Manner of Collection
Special Taxes levied pursuant to Section D above shall be collected in the same manner and at the same time as ordinary ad valorem property taxes; provided, however, that the CFD Administrator may directly bill the Special Tax, may collect Special Taxes at a different time or in a different manner if necessary to meet the financial obligations of Area C of the CFD or as otherwise determined appropriate by the CFD Administrator.

G. Term of Special Tax
Taxable Property in Improvement Area C of the CFD shall remain subject to the Special Tax in perpetuity.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 7 Attachment A
Description of Preserve Operations and Maintenance
Preserve Operations and Maintenance includes the maintenance, operation, and management of the public or private property within boundaries of the Otay Ranch Preserve, as such boundaries may be modified from time to time, required by the Resource Management Plan to be maintained as open space or habitat preservation land or both. Such maintenance, operations and management shall include, but not be limited to, the following:
(i) Preserve Maintenance. Development, implementation and ongoing provision of programs to maintain, operate and manage preserve habitat values through: cultivation, irrigation, trimming, spraying, fertilizing, and/or treatment of disease or injury; removal of trimmings, rubbish, debris and other solid waste; maintenance of trails; removal and control of exotic plant species (weeds); and control of cowbirds through trapping. (ii) Security, Development, implementation and ongoing provision of security programs to: enforce "no trespassing" rules; curtail activities that degrade resources, such as grazing, shooting, and illegal dumping; remove trash, litter, and other debris; control access; prohibit off-road traffic; and maintain fences and trails.
(iii) Preserve improvements: Acquire equipment and/or install improvements necessary to maintain, operate and manage the open space and habitat preservation land described above.

The above description of the Preserve Operations and Maintenance is general in nature. The actual maintenance, operations and management of the open space and habitat preservation land within the Otay Ranch Preserve may be modified from time to time as necessary in order to effectively provide such services in compliance with the requirements of the Resource Management Plan.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 8 Attachment B
Description of Resource Monitoring
Implement the annual biota monitoring and reporting program consistent with the Resource Management Plan to identify changes in the quality and quantity of preserve resources including wildlife species, sensitive plants and sensitive habitat types.

The above description of the Resource Monitoring is general in nature. The actual monitoring and reporting program may be modified from time to time as necessary in order to effectively provide such services consistent with the requirements of the Resource Management Plan.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 1 Rate and Method of Apportionment of Special Tax
City of Chula Vista Community Facilities District No. 97-2 (PRESERVE MAINTENANCE DISTRICT)
Improvement Area D
A Special Tax of Community Facilities District No. 97-2 (Preserve Maintenance District) of the City of Chula Vista ("CFD") shall be levied on all Assessor's Parcels in Improvement Area D of the CFD and collected each Fiscal Year commencing with Fiscal Year 2025-2026 in an amount determined through the application of the rate and method of apportionment of the Special Tax set forth below. All of the real property within Improvement Area D of the CFD, unless exempted by law or by the provisions hereof, shall be taxed for the purposes, to the extent and in the manner herein provided.

A. Definitions
The terms hereinafterset forth have the following meanings:
"Acre or Acreage" means the land area of an Assessor’s Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor's Parcel Map, the land area shown on the applicable Final Subdivision Map, other final map, other parcel map, other condominium plan, or functionally equivalent map or instrument recorded in the Office of the County Recorder. The Acreage of a Parcel shall be calculated to the nearest one-hundredth (1/100) of an acre. The square footage of an Assessor's Parcel is equal to the Acreage multiplied by 43,560.
"Act" means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2 of Title 5 of the Government Code of the State of California. "Administrative Expenses" means the actual or estimated costs incurred by the City, acting for and on behalf of the CFD asthe administratorthereof, to determine, levy and collect the Special Taxes, including salaries of City employees and a proportionate amount of the City’s general administrative overhead related thereto, and the fees of consultants and legal counsel providing services related to the administration of the CFD; the costs of collecting installments of the Special Taxes; and any other costs required to administer Area D of the CFD as determined by the City. "Assessor's Parcel" or “Parcel” means a lot or parcelshown in an Assessor's Parcel Map with an assigned assessor's parcel number.
"Assessor's Parcel Map" means an official map of the Assessor of the County designating parcels by assessor's parcel number.
"CFD Administrator" means an official of the City, or designee thereof, responsible for determining the Special Tax Requirement and providing for the levy and collection of the Special Taxes. "CFD" means Community Facilities District No. 97-2 (Preserve Maintenance District) of the City of Chula Vista.
"City" meansthe City of Chula Vista.
"City Clerk" meansthe City Clerk for the City of Chula Vista or his or her designee. "City Manager" means the City Manager for the City of Chula Vista or his or her designee. "Council" means the City Council of the City of Chula Vista, acting as the legislative body of the CFD. "County" meansthe County of San Diego, California.
"Fiscal Year" means the period starting July 1 and ending on the following June 30.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 2 "Improvement Area D" or "Area D" means Improvement Area D of the CFD, as identified on the boundary map for the CFD as amended from time to time.
“Initial Maintenance Period” means a minimum period of five (5) Fiscal Years commencing with Fiscal Year 2026-2027 until the Fiscal Yearin which the City formally acceptsthe public improvements associated with Improvement Area D, for ongoing long-term management and periodic costs. During this period, the Special Tax may be levied at a reduced level, as determined by the City, forthe purpose of partially funding maintenance obligations and establishing a Long-Term Management Reserve Fund to support long-term management costs.
"Long-Term Management Plan" meansthe “Eastlake Storage Mitigation Project Long-Term Management Plan” dated June 2025, prepared for the mitigation site located within the Salt Creek riparian corridor in the Otay Ranch Preserve (the “Mitigation Site”),
"Long-Term Management Program" means the perpetual management, maintenance, monitoring, reporting, and adaptive management activitiesrequired to be performed pursuant to the applicable LongTerm Management Plan, including but not limited to, invasive species control, trash removal, site access control, biological monitoring, reporting, and as-needed remedial or adaptive management actions necessary to ensure the long-term sustainability, habitat function, and regulatory compliance of preserve and mitigation areas following completion of Initial Maintenance Period and monitoring requirements. "Long-Term Management Fund Requirement" means, for any Fiscal Year, an amount equal to the Improvement Area D’s fair share of the budgeted costs of the Long-Term Management Program. Each Improvement Area’s “fair share” shall be based on its proportionate benefit, acreage, or other allocation methodology as determined in accordance with the applicable Rate and Method of Apportionment. “Long-Term Management Reserve Fund” means, fund established and maintained by the CFD to accumulate amounts over time to pay for periodic, non-annual, and as-needed costs of the Long-Term Management Program that are not incurred on an annual basis, including, without limitation, adaptive management measures, remedial actions, revegetation, increased monitoring, repair or replacement of site improvements, to the extent such costs are identified in the Long-Term Management Plan as occurring on a periodic or as-needed basis.
“Long-Term Management Reserve Fund Requirement” means, for any Fiscal Year, the amount determined by the CFD Administrator to be deposited into the Long-Term Management Reserve Fund, based on the annualized costs of periodic and non-annual activities identified in the Long-Term Management Plan, such that sufficient funds are available when such costs are incurred. "Management Fund" means a fund that shall be maintained within the CFD for each Fiscal Year to pay the costs of the Long-Term Management Program for the Mitigation Site, including ongoing management, maintenance, monitoring, reporting, and adaptive management activities, together with applicable Administrative Expenses.
"Maximum Special Tax" means the maximum Special Tax, determined in accordance with Section C below that may be levied in any Fiscal Year on any Assessor’s Parcel of Taxable Property. "Special Tax" means the Special Tax levied pursuant to the provisions of sections C and D below in each Fiscal Year on each Assessor's Parcel of Developed Property and Undeveloped Property in Area D to fund the Special Tax Requirement.
"Special Tax Requirement" means for any Fiscal Year for Area D the amount required to be levied in such Fiscal Year to: (i) pay the Long-Term Management Fund Requirement; (ii) pay any amountsrequired to establish or replenish the Long-Term Management Reserve Fund to the Long-Term Management

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 3 Reserve Fund Requirement; (iii) Administrative Expenses; and (iv) pay for reasonably anticipated delinquent Special Taxes based on the delinquency rate for Special Taxes levied in the previous Fiscal Year.
"State" meansthe State of California.
"Taxable Property" means all of the Assessor's Parcels within the boundaries of Area D of the CFD that are not exempt from the Special Tax pursuant to law or as defined below.

B. Assignment to Categories of Special Tax
Each Fiscal Year, using the definitions above, all property within Improvement Area D of the CFD shall be classified as Taxable Property or Exempt Property. Taxable Property shall be subject to Special Taxes pursuant to Sections C and D below.

C. Maximum Special Tax Rate
Taxable Category
The Maximum Special Tax for Fiscal Year 2025-2026 are the rates set forth in Table 1 below.

TABLE 1
Maximum Special Tax
Community Facilities DistrictNo. 97-2 Improvement Area D (Fiscal Year 2025-2026)
Long Term
Management Fund
Requirement
Long Term
Management Reserve
Fund Requirement &
Administrative
Expenses
Total Long-Term
Management Program
Costs
$990 / acre $473 / acre $1,463 / acre
Exempt Category
The Exempt Category includes each property owned, conveyed or irrevocably offered for dedication to a public agency, or land which is in the public right-of-way, unmanned utility easements which make utilization for other than the purpose set forth in the easement impractical, common areas, private streets and parks, and open space lots, and any property that is otherwise exempt from the levy of special taxes pursuant to Government Code Section 53340(c) (“Exempt Category”).

Annual Escalation of Maximum Special Tax
The Maximum Special Tax as shown in the tables above that may be levied on each Assessor’s Parcel in Improvement Area D, shall be increased each Fiscal Year beginning in Fiscal Year 2026-2027 and thereafter by a factor equal to the annual percentage change in the San Diego Metropolitan Area Consumer Price Index for All Urban Consumers (CPI-U, All Items) or zero percent (0%), whichever is greater.

D. Method of Apportionment of the Special Tax
During the Initial Maintenance Period
During the Initial Maintenance Period, the Special Tax shall be levied at a reduced level, as determined annually by the City, sufficient to fund a portion of the Special Tax Requirement and to establish and build the Long-Term Management Reserve Fund. The City shall determine the percentage of the Maximum

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 4 Special Tax to be levied each Fiscal Year during the Initial Maintenance Period based on anticipated future maintenance costs, required reserve levels, and annual Administrative Expenses, provided the Special Tax during the Initial Maintenance Period shall not exceed the Special Tax Requirement each Fiscal Year. The Special Tax shall be apportioned to Parcels in accordance with the methodology set forth in Steps 1 through 3 below, after applying such reduced levy.

Following the Initial Maintenance Period
Commencing in the first Fiscal Year following the Initial Maintenance Period, the Special Tax shall be levied up to the full amount necessary to fund the Special Tax Requirement and shall be apportioned to Parcels in accordance with Steps 1 through 3 below.

Step 1: Determine the maximum revenue that could be generated by applying the Maximum Special Tax rates set forth in Table 1 (as such rates may be annually escalated pursuant to Section C) to all Parcels.

Step 2: If the total revenue calculated in Step 1 is greater than the Special Tax Requirement for Improvement Area D, reduce the Special Tax for each Parcel proportionately so that the total Special Tax levy for the Fiscal Year is equal to the Special Tax Requirement.

Step 3: In the event that the Special Tax Requirement for Improvement Area D includes amounts attributable to delinquent Special Taxes from the prior Fiscal Year, the City shall determine the amount of such delinquent Special Taxes and may identify the Parcels and owners associated with such delinquencies. To the extent permitted by law, the City may levy and collect such delinquent amounts from the applicable Parcels and/or owners. Any remaining portion of the Special Tax Requirement shall be allocated and levied in accordance with Steps 1 through 2 above.

Notwithstanding the above, under no circumstances will the Special Tax levied against any Assessor’s Parcel be increased by more than ten percent (10%) annually up to the Maximum Special Tax as a consequence of delinquency or default by the owner of any other Assessor's Parcel within Area D of the CFD.

E. Appeals
Any landowner or resident who pays the Special Tax and believes that the amount of the Special Tax levied on their Assessor’s Parcel is in error shall first consult with the CFD Administrator regarding such errors. If following such consultation, the CFD Administrator determines that an error has occurred; the CFD Administrator may amend the amount of the Special Tax levied on such Assessor’s Parcel. If following such consultation and action, if any, by the CFD Administrator, the landowner or resident believes such error still exists; such person may file a written notice with the City Clerk of the City appealing the amount of the Special Tax levied on such Assessor’s Parcel. Upon receipt of any such notice, the City Clerk shall forward a copy of such notice to the City Manager who shall establish as part of the proceedings and administration of the CFD, a special three-member Review/Appeal Committee.

The Review/Appeal Committee may establish such procedures, as it deems necessary to undertake review of any such appeal. The Review/Appeal Committee shall interpret this Rate and Method of Apportionment and make determinations relative to the annual administration of the Special Tax and any landowner or resident appeals, as herein specified. The decision of the Review/Appeal Committee shall be final and binding to all persons.

F. Manner of Collection
Special Taxes levied pursuant to Section D above shall be collected in the same manner and at the same time as ordinary ad valorem property taxes; provided, however, that the CFD Administrator may directly bill the Special Tax, may collect Special Taxes at a different time or in a different manner if necessary to meet the financial obligations of Area D of the CFD or as otherwise determined appropriate by the CFD Administrator.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 5 G. Term of Special Tax
Taxable Property in Improvement Area D of the CFD shallremain subject to the Special Tax in perpetuity.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda 6 Attachment A
Description of Long-Term Management Plan
Implement the monitoring, maintenance, reporting, and adaptive management activities required under the Long-Term Management Plan for the Salt Creek Mitigation Site including but not limited to, invasive species control, trash removal, site access control, biological monitoring, reporting, and as-needed remedial or adaptive management actions necessary to ensure the long-term sustainability, habitat function, and regulatory compliance of preserve and mitigation areas following completion of initial mitigation and monitoring requirements.

The activities described above are limited to those discrete tasks identified in the Long-Term Management Plan and are intended to ensure the long-term sustainability and ecological function of the Mitigation Site in perpetuity following completion of initial mitigation and monitoring requirements.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda v . 0 0 5 P a g e | 1
May 19, 2026

ITEM TITLE
Road Maintenance: Adopt a List of Projects for Fiscal Year 2026-27 Funded by Senate Bill 1, the Road Repair and Accountability Act of 2017
Report Number: 26-0156
Location: Citywide
Department: Engineering
G.C. § 84308 Regulations Apply: No
Environmental Notice: The activity is not a “Project” as defined under Section 15378 of the California Environmental Quality Act (“CEQA”) State Guidelines. Therefore, pursuant to State Guidelines Section 15060(c)(3), no environmental review is required.

Recommended Action
Adopt a resolution approving the proposed list of projects for fiscal year 2026-27 funded by the Road Maintenance and Rehabilitation Account created by Senate Bill 1: The Road Repair and Accountability Act of 2017.

SUMMARY
Pursuant to Streets and Highways Code Section 2034(a)(1), prior to receiving an apportionment of Road Maintenance and Rehabilitation Account funds from the State Controller in a fiscal year, a City must submit a list of projects proposed to be funded to the California Transportation Commission. Staff is recommending City Council adoption of a resolution approving the City’s Road Maintenance and Rehabilitation Account project list for fiscal year 2026-27.

ENVIRONMENTAL REVIEW
The proposed activity has been reviewed for compliance with the California Environmental Quality Act (CEQA) and it has been determined that the activity is not a “Project” as defined under Section 15378 of the State CEQA Guidelines because the proposed activity consists of a governmental fiscal/administrative activity which does not result in a physical change in the environment. Therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines, the activity is not subject to CEQA.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda P a g e | 2
Each of the projects identified in the Road Maintenance and Rehabilitation Account project list for fiscal year 2026-27 has been or is in the process of being reviewed or will require review under CEQA at a future time in accordance with the State CEQA Guidelines and the City’s Municipal Code. This determination is predicated on State CEQA Guidelines Section 15004, which provides direction to lead agencies on the appropriate timing for environmental review.

BOARD/COMMISSION/COMMITTEE RECOMMENDATION
Not applicable.

DISCUSSION
The Road Repair and Accountability Act of 2017 (Senate Bill 1, or “SB 1”) established the Road Maintenance and Rehabilitation Account (RMRA) which provides new funds to cities and counties throughout California to use for roadway maintenance and rehabilitation. SB1 increased per gallon fuel excise taxes, diesel fuel sales taxes and vehicle registration taxes, stabilized the fuel tax rates and provided for inflationary adjustments to rates in future years.

Required Annual Authorization
The RMRA local streets and roads allocations are intended to be focused on improving the overall condition of the municipality’s pavement condition. Once a municipality reaches an average Pavement Condition Index (PCI) of 80, other transportation related projects may be proposed. As of April 2026, the City’s average PCI is 68 (good); therefore, RMRA funds should continue to be utilized specifically for roadway maintenance and rehabilitation.

Prior to receiving an apportionment of RMRA funds from the California Transportation Commission (CTC) in a fiscal year, the City must submit an adopted list of projects proposed to be funded with these funds to the CTC by July 1st each year. All projects proposed to receive the fiscal year funding must be adopted by resolution by the City Council at a regular public meeting for each fiscal year (Streets and Highway Code Section 2034(a)(1)). The adopted list must include a description and the location of each proposed project, the estimated useful life of the improvement, and a proposed schedule for the project’s completion.

The projected RMRA revenue for Chula Vista in fiscal year (FY) 2026-27 is $ 7,895,697 (Attachment 1) and will be programmed with the adoption of the City’s FY 2026-27 CIP Program on May 19, 2026. The proposed project lists, STM0418 and STL0486 for FY 2026-27 (Attachment 2), include public roadway segments with PCI ratings between 21 to 74 that are recommended for rehabilitation treatment, and segments with PCI ratings between 75 to 92 that are recommended for maintenance treatment. The overall City average PCI is projected to increase as these projects and other paving projects with TransNet and other funding are completed.

The RMRA also requires that the City submit an annual expenditure report for all active and completed projects funded by the RMRA. The annual report will provide details on the projects completed to date and any updates to the original listing. This is the tenth year in which the City is receiving SB 1 funding, and as such, funding will enable the City to supplement the road maintenance and rehabilitation efforts needed on streets throughout the City.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda P a g e | 3
The following are the previously adopted SB1 RMRA projects, including status:

PROJECT STATUS
FY 2017-18 (CIP STM0395) Completed
FY 2018-19 (CIP STM0396) Completed
FY 2019-20 (CIP STM0400) Completed
FY 2020-21 (CIP STM0401) Completed
FY 2021-22 (CIP STL0457) Closeout Phase
FY 2021-22 (CIP STM0410) Construction Phase
FY 2022-23 (CIP STM0412) Construction Phase
FY 2022-23 (CIP STL0460) Design Phase
FY 2023-24 (CIP STL0465) Design Phase
FY 2023-24 (CIP STM0413) Design Phase
FY 2024-25 (CIP STL0472) Design Phase
FY 2024-25 (CIP STM0403) Design Phase
FY 2025-26 (CIP STL0477) Design Phase
FY 2025-26 (CIP STM0415) Design Phase
The projects proposed for adoption in FY 2026-27, CIP STL0486 - RMRA Pavement Maintenance FY 2026-27 and CIP STM0418 - RMRA Pavement Rehabilitation FY 2026-27, are estimated to start construction work in Spring 2028 with completion by Spring 2029.

Maintenance of Effort [Streets and Highways Code Sec. 2036] The RMRA program contains a local agency Maintenance of Effort (MOE) requirement that applies to funds allocated through the RMRA. Similar to the existing requirements for the Gas Tax and TransNet, the RMRA MOE requirement ensures that these new funds do not supplant existing levels of City and County discretionary revenue spending on streets and roads. For RMRA, the City must maintain discretionary fund spending for street, road, and highway purposes at no less than the average of fiscal years 2009-10, 2010- 11, and 2011-12, excluding one-time funds. The RMRA MOE for Chula Vista is $4,515,412 (Attachment 3).

The City anticipates meeting the MOE requirement for FY 2026-27.

The State Controller may perform audits to ensure compliance with these MOE rules. If the State Controller determines that the City has not met its MOE, the City will be required to reimburse the state for the funds it received during that fiscal year, although the City may expend during that fiscal year and the following fiscal year a total amount that is sufficient to comply. Any funds withheld or returned as a result of a failure to comply will be reapportioned to the other counties and cities whose expenditures are in compliance.

Due to this requirement, the City established a separate account for RMRA funds within the Gas Tax Account.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda P a g e | 4

DECISION-MAKER CONFLICT
Staff has reviewed the property holdings of the City Council members and has found no property holdings within 1,000 feet of the boundaries of the property, which is the subject of this action. Consequently, this item does not present a disqualifying real property-related financial conflict of interest under California Code of Regulations Title 2, section 18702.2(a)(7) or (8), for purposes of the Political Reform Act (Cal. Gov’t Code §87100, et seq.).

Staff is not independently aware, and has not been informed by any Council member, of any other fact that may constitute a basis for a decision-maker conflict of interest in this matter.

CURRENT-YEAR FISCAL IMPACT
This action relates to funds to be received and expenditures to be incurred in fiscal year 2026-27, resulting in no fiscal impact in the current year.

ONGOING FISCAL IMPACT
Projected RMRA revenues and expenditures totaling $7,895,697, along with any remaining funds from previously completed RMRA projects, are incorporated into the FY 2026-27 Capital Improvement Program which will be presented to the City Council as part of the City Manager’s Budget on May 19, 2026. No additional impact to the RMRA Fund is anticipated in fiscal year 2026-27. Any variance between actual RMRA allocations and the estimates used to develop the CIP will be addressed through the City’s Quarterly Financial Report process.

Upon completion, the improved street segments will be incorporated into the Public Works Department’s routine street maintenance program, which is funded annually through the department’s operating budget.

These improvements are aligned with the City’s long-term pavement preservation strategy, which is designed to reduce the need for more costly repairs in the future.

ATTACHMENTS

1. Local Streets and Roads – Projected Revenues (Jan 2026)

2. RMRA List of Projects for FY2026-27

3. RMRA Maintenance of Effort (Aug 2017)
Staff Contact:

Luis Schaar – Director of Engineering/City Engineer
Eddie Flores – Assistant Director of Engineering/City Traffic Engineer Patrick Moneda – Principal Civil Engineer

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Form Rev 9/30/2025
RESOLUTION NO. __________

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

CHULA VISTA ADOPTING A LIST OF PROJECTS FOR
FISCAL YEAR 2026-27 FUNDED BY SB 1: THE ROAD REPAIR
AND ACCOUNTABILITY ACT OF 2017
WHEREAS, Senate Bill 1 (SB 1), the Road Repair and Accountability Act of 2017 (Chapter 5, Statutes of 2017) was passed by the California Legislature and Signed into law by the Governor in April 2017 to address the significant multi-modal transportation funding shortfalls statewide; and
WHEREAS, SB 1 includes accountability and transparency provisions that will ensure the residents of our City are aware of the projects proposed for funding in our community and which projects have been completed each fiscal year; and
WHEREAS, the City must adopt by resolution a list of projects proposed to receive fiscal year funding from the Road Maintenance and Rehabilitation Account (RMRA), created by SB 1, which must include a description and the location of each proposed project, a proposed schedule for the project’s completion, and the estimated useful life of the improvement; and WHEREAS, the City will receive an estimated $7,895,697 in RMRA funding in fiscal year 2026-27 from SB 1; and
WHEREAS, this is the tenth year in which the City is receiving SB 1 funding and will enable the City to continue essential road maintenance and rehabilitation projects, safety improvements, repairing and replacing aging bridges, and increasing access and mobility options for the traveling public that would not have otherwise been possible without SB 1; and WHEREAS, the City has undergone a robust public process to ensure public input into our community’s transportation priorities and the project list; and WHEREAS, the City used a Pavement Management System to develop the SB 1 project list to ensure revenues are being used on the most high-priority and cost-effective projects that also meet the community’s priorities for transportation investment; and WHEREAS, the funding from SB 1 will help the City maintain and rehabilitate 38 streets/ roads (Exhibit 1), and fund numerous similar projects into the future; and WHEREAS, the 2023 California Statewide Local Streets and Roads Needs Assessment found that the City/County’s streets and roads are in an “good” condition, and this revenue will help us increase the overall quality of our road system and keep our streets and roads in “good” condition over the next decade; and

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Resolution No.

WHEREAS, the SB 1 project list and overall investment in our local streets and roads infrastructure with a focus on basic maintenance and safety, investing in complete streets infrastructure, and using cutting-edge technology, materials and practices, will have significant positive co-benefits statewide.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista as follows:

1. The foregoing recitals are true and correct.

2. The City of Chula Vista adopts the list of proposed projects attached as Exhibit 1 and incorporated fully herein to be funded in-part or solely with Fiscal Year 2026-27 Road Maintenance and Rehabilitation Account revenues.

Presented by Approved as to form by
Luis Schaar Marco A. Verdugo
Director of Engineering & Capital Projects/ City Attorney City Engineer

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda EXHIBIT 1
PROJECT NAME:

PROJECT DESCRIPTION:

EST. PROJECT SCHEDULE:

EST. USEFUL LIFE:

PROJECT LOCATION:

Road Name Begin Location End Location Functional
Classification
PCI
(2026)
Fiscal
Year
MAIN ST I-5 FREEWAY RAMP ALAMITOS AV ARTERIAL 21 26-27
TELEGRAPH CANYON RD L ST I -805 FREEWAY RAMP ARTERIAL 36 26-27 MAIN ST I-805 FREEWAY RAMP I-805 FREEWAY RAMP ARTERIAL 44 26-27 MAIN ST W CITY LIMITS I-5 FREEWAY RAMP ARTERIAL 45 26-27 TELEGRAPH CANYON RD I-805 FREEWAY RAMP I-805 FREEWAY RAMP ARTERIAL 47 26-27 E ORANGE AV MELROSE AVE I-805 FREEWAY ARTERIAL 56 26-27 OLYMPIC PW E ORANGE AV I-805 FREEWAY RAMP ARTERIAL 61 26-27 N FOURTH AV SR-54 FREEWAY RAMP BRISBANE ST ARTERIAL 74 26-27 JURISDICTION AVERAGE NETWORK PCI: 68 as of 04/16/2026
PROJECT LEAD: Ramon Esquer
Office: (619) 691-5045
email: [email protected]
SENATE DISTRICT: 40
ASSEMBLY DISTRICT: 79, 80
RMRA Pavement Rehabilitation – FY2026/27 (STM0418)
(PROPOSED LIST)
Project includes the rehabilitation of various streets with overlays or reconstruction. The rehabilitation treatments are based on the recommendations from the City's Pavement Management System. Project is funded by the Road Maintenance and Rehabilitation Account (RMRA).
03/2028– 03/2029
20-25 YEARS

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda EXHIBIT 1
PROJECT NAME:

PROJECT DESCRIPTION:

EST. PROJECT SCHEDULE:

EST. USEFUL LIFE:

PROJECT LOCATION:

Road Name Begin Location End Location Functional
Classification
PCI
(2026)
Fiscal
Year
YOSEMITE DR HUNTE PW BRYCE CANYON WY RESIDENTIAL 75 26-27 BRYCE CANYON WY YOSEMITE DR BRYCE CANYON AV RESIDENTIAL 79 26-27 HIDDEN SPRINGS PL NCDS SCDS RESIDENTIAL 80 26-27
GRANITE SPRINGS DR CLUBHOUSE DR FERN VALLEY RD RESIDENTIAL 82 26-27 YOSEMITE WY YOSEMITE DR BRYCE CANYON AV RESIDENTIAL 82 26-27 APPALACHIAN PL NCDS S CREEKSIDE DR RESIDENTIAL 84 26-27 CLUBHOUSE DR GRANITE SPRINGS DR S CREEKSIDE DR RESIDENTIAL 84 26-27 FERN VALLEY RD APPALACHIAN PL S CREEKSIDE DR RESIDENTIAL 84 26-27 BORREGO SPRINGS RD SCHOOL HOUSE RD SILVER SPRINGS DR RESIDENTIAL 85 26-27 RIO SECO CT WCDS FERN VALLEY RD RESIDENTIAL 86 26-27
BRYCE CANYON AV N CDS S CDS RESIDENTIAL 87 26-27
LONE PINE CT NCDS TAMARISK GROVE DR RESIDENTIAL 87 26-27 CLUBHOUSE DR HUNTE PW GRANITE SPRINGS DR RESIDENTIAL 88 26-27 FLINN SPRINGS RD SILVER SPRINGS DR HIDDEN SPRINGS PL RESIDENTIAL 88 26-27 OAK SPRINGS DR SILVER SPRINGS DR S CREEKSIDE DR RESIDENTIAL 88 26-27 SUGAR PINE PL NCDS FERN VALLEY RD RESIDENTIAL 88 26-27
TABLE ROCK AV TABLE ROCK WY CDS RESIDENTIAL 88 26-27
THUNDER SPRINGS DR SCHOOL HOUSE RD FLINN SPRINGS RD RESIDENTIAL 88 26-27 CEDAR GROVE CT NCDS TAMARISK GROVE RD RESIDENTIAL 89 26-27 SILVER SPRINGS DR CLUBHOUSE DR S CREEKSIDE DR RESIDENTIAL 89 26-27 TABLE ROCK AV W CDS YOSEMITE DR RESIDENTIAL 89 26-27
TABLE ROCK AV YOSEMITE DR TABLE ROCK WY RESIDENTIAL 89 26-27 WIND CAVE PL N CDS TABLE ROCK AV RESIDENTIAL 89 26-27
YOSEMITE DR BRYCE CANYON WY TABLE ROCK AV RESIDENTIAL 89 26-27 OAK SPRINGS DR HUNTE PW SILVER SPRINGS DR RESIDENTIAL 90 26-27 SCHOOL HOUSE RD HUNTE PW SILVER SPRINGS DR RESIDENTIAL 90 26-27 (PROPOSED LIST)
Project includes pavement maintenance, Rubber Polymer Modified Slurry (RPMS) with Digouts, based on the recommendations from the City's Pavement Management System.

Project is funded by the Road Maintenance and Rehabilitation Account (RMRA). 03/2028– 03/2029
7-10 YEARS
RMRA Pavement Maintenance – FY2026/27 (STL0486)
2

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda EXHIBIT 1
TAMARISK GROVE DR GRANITE SPRINGS DR OAK SPRINGS DR RESIDENTIAL 90 26-27 GREEN VALLEY RD APPALACHIAN PL SILVER SPRINGS DR RESIDENTIAL 91 26-27 S CREEKSIDE DR CLUBHOUSE DR APPALACHIAN PL RESIDENTIAL 91 26-27 TABLE ROCK WY YOSEMITE DR TABLE ROCK AV RESIDENTIAL 92 26-27 JURISDICTION AVERAGE NETWORK PCI: 68 as of 04/16/2026
PROJECT LEAD: Ramon Esquer
Office: (619) 691-5045
email: [email protected]
SENATE DISTRICT: 40
ASSEMBLY DISTRICT: 79, 80
3

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda /RFDO 6WUHHWVDQG 5RDGV3URMHFWHG 5HYHQXHV
Based on State Dept of Finance statewide re  Estimated January 2026 Hwy Users Tax Road Mntnc TOTAL Hwy Users Tax Road Mntnc TOTAL Account Rehab Acct Account Rehab Acct

SAN DIEGO COUNTY
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IMPERIAL BEACH   
 
 
   
LA MESA  
     
  

 

LEMON GROVE   
      
  


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OCEANSIDE    
    
  
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SAN DIEGO   
  
    

  
SAN MARCOS            SANTEE   
         SOLANA BEACH            VISTA  
 
  
  
    

County of San Diego     

  

   
Total Cities & County: San Diego      
  
  

 

SAN FRANCISCO COUNTY
SAN FRANCISCO - City Allocation      
  
   


SAN FRANCISCO - County Allocation  



    
  
  
Total San Francisco  

   

 
    

SAN JOAQUIN COUNTY
ESCALON  
          LATHROP   
    

  
  

LODI   
  
  
    
MANTECA     
     

MOUNTAIN HOUSE          
  
RIPON   

 
     

STOCKTON  


   


 
  
TRACY  

   
       County of San Joaquin  
 

  
    

  
Total Cities & County: San Joaquin   
  
    
 
-DQXDU\ CaliforniaCityFinance.com 3DJHRI
Attachment 1

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda ATTACHMENT 2
PROJECT NAME:

PROJECT DESCRIPTION:

EST. PROJECT SCHEDULE:

EST. USEFUL LIFE:

PROJECT LOCATION:

Road Name Begin Location End Location Functional
Classification
PCI
(2026)
Fiscal
Year
MAIN ST I-5 FREEWAY RAMP ALAMITOS AV ARTERIAL 21 26-27
TELEGRAPH CANYON RD L ST I -805 FREEWAY RAMP ARTERIAL 36 26-27 MAIN ST I-805 FREEWAY RAMP I-805 FREEWAY RAMP ARTERIAL 44 26-27 MAIN ST W CITY LIMITS I-5 FREEWAY RAMP ARTERIAL 45 26-27 TELEGRAPH CANYON RD I-805 FREEWAY RAMP I-805 FREEWAY RAMP ARTERIAL 47 26-27 E ORANGE AV MELROSE AVE I-805 FREEWAY ARTERIAL 56 26-27 OLYMPIC PW E ORANGE AV I-805 FREEWAY RAMP ARTERIAL 61 26-27 N FOURTH AV SR-54 FREEWAY RAMP BRISBANE ST ARTERIAL 74 26-27 JURISDICTION AVERAGE NETWORK PCI: 68 as of 04/16/2026
PROJECT LEAD: Ramon Esquer
Office: (619) 691-5045
email: [email protected]
SENATE DISTRICT: 40
ASSEMBLY DISTRICT: 79, 80
RMRA Pavement Rehabilitation – FY2026/27 (STM0418)
(PROPOSED LIST)
Project includes the rehabilitation of various streets with overlays or reconstruction. The rehabilitation treatments are based on the recommendations from the City's Pavement Management System. Project is funded by the Road Maintenance and Rehabilitation Account (RMRA).
03/2028– 03/2029
20-25 YEARS

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda ATTACHMENT 2
PROJECT NAME:

PROJECT DESCRIPTION:

EST. PROJECT SCHEDULE:

EST. USEFUL LIFE:

PROJECT LOCATION:

Road Name Begin Location End Location Functional
Classification
PCI
(2026)
Fiscal
Year
YOSEMITE DR HUNTE PW BRYCE CANYON WY RESIDENTIAL 75 26-27 BRYCE CANYON WY YOSEMITE DR BRYCE CANYON AV RESIDENTIAL 79 26-27 HIDDEN SPRINGS PL NCDS SCDS RESIDENTIAL 80 26-27
GRANITE SPRINGS DR CLUBHOUSE DR FERN VALLEY RD RESIDENTIAL 82 26-27 YOSEMITE WY YOSEMITE DR BRYCE CANYON AV RESIDENTIAL 82 26-27 APPALACHIAN PL NCDS S CREEKSIDE DR RESIDENTIAL 84 26-27 CLUBHOUSE DR GRANITE SPRINGS DR S CREEKSIDE DR RESIDENTIAL 84 26-27 FERN VALLEY RD APPALACHIAN PL S CREEKSIDE DR RESIDENTIAL 84 26-27 BORREGO SPRINGS RD SCHOOL HOUSE RD SILVER SPRINGS DR RESIDENTIAL 85 26-27 RIO SECO CT WCDS FERN VALLEY RD RESIDENTIAL 86 26-27
BRYCE CANYON AV N CDS S CDS RESIDENTIAL 87 26-27
LONE PINE CT NCDS TAMARISK GROVE DR RESIDENTIAL 87 26-27 CLUBHOUSE DR HUNTE PW GRANITE SPRINGS DR RESIDENTIAL 88 26-27 FLINN SPRINGS RD SILVER SPRINGS DR HIDDEN SPRINGS PL RESIDENTIAL 88 26-27 OAK SPRINGS DR SILVER SPRINGS DR S CREEKSIDE DR RESIDENTIAL 88 26-27 SUGAR PINE PL NCDS FERN VALLEY RD RESIDENTIAL 88 26-27
TABLE ROCK AV TABLE ROCK WY CDS RESIDENTIAL 88 26-27
THUNDER SPRINGS DR SCHOOL HOUSE RD FLINN SPRINGS RD RESIDENTIAL 88 26-27 CEDAR GROVE CT NCDS TAMARISK GROVE RD RESIDENTIAL 89 26-27 SILVER SPRINGS DR CLUBHOUSE DR S CREEKSIDE DR RESIDENTIAL 89 26-27 TABLE ROCK AV W CDS YOSEMITE DR RESIDENTIAL 89 26-27
TABLE ROCK AV YOSEMITE DR TABLE ROCK WY RESIDENTIAL 89 26-27 WIND CAVE PL N CDS TABLE ROCK AV RESIDENTIAL 89 26-27
YOSEMITE DR BRYCE CANYON WY TABLE ROCK AV RESIDENTIAL 89 26-27 OAK SPRINGS DR HUNTE PW SILVER SPRINGS DR RESIDENTIAL 90 26-27 SCHOOL HOUSE RD HUNTE PW SILVER SPRINGS DR RESIDENTIAL 90 26-27 (PROPOSED LIST)
Project includes pavement maintenance, Rubber Polymer Modified Slurry (RPMS) with Digouts, based on the recommendations from the City's Pavement Management System.

Project is funded by the Road Maintenance and Rehabilitation Account (RMRA). 03/2028– 03/2029
7-10 YEARS
RMRA Pavement Maintenance – FY2026/27 (STL0486)
2

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda ATTACHMENT 2
TAMARISK GROVE DR GRANITE SPRINGS DR OAK SPRINGS DR RESIDENTIAL 90 26-27 GREEN VALLEY RD APPALACHIAN PL SILVER SPRINGS DR RESIDENTIAL 91 26-27 S CREEKSIDE DR CLUBHOUSE DR APPALACHIAN PL RESIDENTIAL 91 26-27 TABLE ROCK WY YOSEMITE DR TABLE ROCK AV RESIDENTIAL 92 26-27 JURISDICTION AVERAGE NETWORK PCI: 68 as of 04/16/2026
PROJECT LEAD: Ramon Esquer
Office: (619) 691-5045
email: [email protected]
SENATE DISTRICT: 40
ASSEMBLY DISTRICT: 79, 80
3

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Attachment 3

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda v . 0 0 5 P a g e | 1
May 19, 2026

ITEM TITLE
Receive Investment Report: Receive the Investment Report for Quarter Ending March 31, 2026 Report Number: 26-0115
Location: No specific geographic location
Department: Finance
G.C. § 84308 Regulations Apply: No
Environmental Notice: The activity is not a “Project” as defined under Section 15378 of the California Environmental Quality Act (“CEAQ”) State Guidelines. Therefore, pursuant to State Guidelines Section 15060(c)(3) no environmental review is required.

Recommended Action
Receive the investment report for the quarter ending on March 31, 2026.

SUMMARY
This report provides an update on how the City of Chula Vista’s (“City”) money was invested during the quarter that ended on March 31, 2026. State law and the City’s Investment Policy require City to provide this report every quarter.

ENVIRONMENTAL REVIEW
The proposed activity has been reviewed for compliance with the California Environmental Quality Act (“CEQA”), and it has been determined that the activity is not a “Project” as defined under Section 15378 of the State CEQA Guidelines because the proposed activity consists of a governmental fiscal/administrative activity which does not result in a physical change in the environment. Therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines, the activity is not subject to CEQA. Thus, no environmental review is required.

BOARD/COMMISSION/COMMITTEE RECOMMENDATION
Not applicable.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda P a g e | 2

DISCUSSION
As shown in the table below, as of March 31, 2026, the City held a total of $811,111,089 in cash and investments. Of this amount, $684,744,228 is managed directly by the City, and $126,366,861 is held by outside trustees.

Summary of Cash and Investments as of March 31, 2026
Cash and Investments Book Value
Managed Investment Portfolio $ 633,196,810
State of California Local Agency Investment Fund 16,389,062 County of San Diego Pooled Investment Fund 27,126
Total Investments Held by the City 649,612,998
Cash/Time Deposits 35,131,230
Total Cash and Investments Held by the City 684,744,228 Cash and Investments Held by Bank Trustee 126,366,861
Total Cash and Investment Portfolio $ 811,111,089
Cash and investments held by City and the trustees continue to be invested in accordance with the Government Code and City Council Policy 220-01 Investment Policy and Guidelines as adopted by Resolution No. 2026-029 on February 10, 2026.

During this quarter, $20,000,000 was transferred to Bank of New York, City’s Custodian Bank, to be used for investment purchases. A total of eleven (11) investments matured, and one (1) investment was called early by the issuer, providing $54.1 million in proceeds. The City reinvested funds by purchasing sixteen (16) new investments, including one corporate bond ($4.9 million) and fifteen U.S. Treasury notes ($75.6 million). The Finance Department continues to actively manage the portfolio based on financial and economic conditions.

No other significant activity occurred beyond routine investment transactions.

The City’s investment portfolio earned an average return of 4.15%, which was slightly lower than the previous quarter. The average portfolio maturity decreased from 1.95 to 1.91 years.

The Federal Open Market Committee (“FOMC”) meets approximately every six weeks to set the target range for the federal funds rate. At its most recent meeting, the FOMC noted that the economy continues to grow at a solid pace; however, job growth has slowed, and the unemployment rate has increased slightly. Inflation remains somewhat elevated and remains above the Committee’s long-term target.

In response to increased economic uncertainty and heightened risks to employment, the Federal Reserve maintained the target range for the federal funds rate at 3.50%–3.75%. The Committee will continue to closely monitor incoming economic data and adjust monetary policy as appropriate to support maximum employment and maintain inflation near its long-term objective.

The Finance Department, with the assistance of Chandler Asset Management, Inc, continues to manage City’s investment portfolio in accordance with the State law and City Council Policy 220-01 Investment Policy and

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda P a g e | 3
Guidelines. Considering the projected timing of cash receipts and disbursements and the structure of the Pooled Investment Portfolio, City will be able to comfortably meet overall cash flow needs over the next six months.

In accordance with City Council Policy 220-01 Investment Policy and Guidelines, the City Investment Report for the Quarter Ended March 31, 2026 (Attachment 2) includes the following sections:
 Portfolio Summary (pg. 1)
 Statement of Compliance (pg. 2)
 Holdings Report (pg. 5)
 U.S. Treasury Yields and Interest Earnings (pg. 15)
 Transaction Ledger (pg. 16)
 Portfolio Maturity Distribution (pg. 18)
 Corporate Bonds Sector Distribution (pg. 22)
 Glossary (pg. 24)

DECISION-MAKER CONFLICT
Staff have reviewed the decision contemplated by this action and have determined that it is not site-specific and consequently, the real property holdings of the City Council members do not create a disqualifying real property-related financial conflict of interest under the Political Reform Act (Cal. Gov’t Code § 87100, et seq.).

Staff are not independently aware and have not been informed by any City Council member, of any other fact that may constitute a basis for a decision-maker conflict of interest in this matter.

CURRENT-YEAR FISCAL IMPACT
Considering the projected timing of cash receipts and disbursements and the structure of the Pooled Investment Portfolio, City should be able to comfortably meet overall cash flow needs over the next six months. There is no direct current-year fiscal impact as a result of this action.

ONGOING FISCAL IMPACT
There is no ongoing fiscal impact as a result of this action.

ATTACHMENTS

1. Summary of Cash and Investments as of March 31, 2026

2. Investment Report for the Quarter Ended March 31, 2026 Staff Contact: Galen Fleming, Fiscal Services Analyst, Finance Department Adrian Del Rio, Director of Finance/Treasurer

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda % of
Investment Type Par Value Market Value Book Value Portfolio Managed Investment Portfolio
Asset Back Securities - - - 0.00%
Federal Agency 84,566,000 85,047,353 84,486,270 10.42%
Commercial Paper - - - 0.00%
Corporate Note 148,332,000 148,825,480 148,137,025 18.26% BNY Custodial Cash Account 2,343,751 2,343,751 2,343,751 0.29% Municipal Bond 27,910,000 27,780,965 27,681,448 3.41%
Negotiable Certificate of Deposit 249,000 253,625 249,000 0.03% Supranationals 23,000,000 23,081,919 22,934,990 2.83%
U.S. Treasury Bond/Note 345,000,000 343,646,074 342,915,373 42.28% Placement Service Deposits (CDARS) 4,275,983 4,275,983 4,275,983 0.53% Cash
Purchase in Transit (Payable) - - - 0.00%
Interest in Transit (Receivable) 166,145 166,145 166,145 0.02% Cash 6,825 6,825 6,825 0.00%
Cash Subtotal 172,970 172,970 172,970 0.02%
Managed Investment Portfolio Subtotal 635,849,704 635,428,119 633,196,810 77.54% Pooled Investments
State of CA Local Agency Investment Fund 16,389,062 16,389,062 16,389,062 2.02% County of San Diego Pooled Investment Fund 27,126 27,126 27,126 0.00% Pooled Investments Subtotal 16,416,188 16,416,188 16,416,188 2.02% Investments Held by the City 652,265,892 651,844,307 649,612,998 79.56% Cash/Time Deposits 35,131,230 35,131,230 35,131,230 4.33% Total Cash & Investments Held by the City $687,397,122 $686,975,537 $684,744,228 84.42% Held by Bank Trustee/Fiduciary Funds
Cash with Fiscal Agents 7,853,008 7,853,008 7,853,008 0.97% Mutual Funds 75,756,133 75,756,133 75,756,133 9.34%
San Diego County Investment Pool 5,889,352 5,889,352 5,889,352 0.73% Local Agency Investment Fund 6,027,528 6,027,413 6,027,528 0.74% Section 115 Trust 30,840,840 30,840,840 30,840,840 3.80% Treasury Bills - - - 0.00%
Total Held by Bank Trustee/Fiduciary Funds $126,366,861 $126,366,746 $126,366,861 15.58% Total Portfolio $813,763,983 $813,342,283 $811,111,089 100.00% Notes:

1. Reflects bond proceeds and tax levy revenues held by trustee in accordance with bond covenants.

2. Par value is the principal amount of the investment on maturity.

3. Market values contained herein are received from sources we believe are reliable, however we do not guarantee their accuracy.

4. Market values do not include accrued interest.

5. Book value is the value at which an asset is carried on the balance sheet and does not include accrued interest.

Summary of Cash and Investments as of March 31, 2026
City of Chula Vista

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Account Summary
Maturity Distribution
Top Issuers
Credit Quality*
Average Modified Duration 1.67
Average Coupon 3.70%
Average Purchase YTM 4.13%
Average Market YTM 3.91%
Average Credit Quality* AA
Average Final Maturity 1.84
Average Life 1.81
End Values as of
02/28/2026
End Values as of
03/31/2026
Market Value 654,039,814.61 651,844,307.06
Accrued Interest 6,027,124.98 5,821,315.75
Total Market Value 660,066,939.58 657,665,622.81
Income Earned 2,488,283.53 2,431,739.07
Cont/WD 20,027,236.95 0.00
Par 649,781,432.37 652,265,891.98
Book Value 647,184,997.99 649,612,998.04
Cost Value 642,519,904.43 644,878,158.04
United States 52.72%
Farm Credit System 9.25%
Federal Home Loan Banks 3.80%
LAIF 2.51%
International Bank for Recon and Dev 1.55%
State of California 1.43%
Morgan Stanley 1.39%
Inter-American Development Bank 1.38%
*The average credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

Investment Report for the Quarter Ended March 31, 2026
City of Chula Vista

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES
Max % (MV) 100.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV; Non Agency ABS & MBS) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant

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

COLLATERALIZED BANK DEPOSITS
Max % (MV) 100.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % (MV) 100.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 3.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (Corporate & Commercial Paper; MV) 10.0 1.2 Compliant Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 22.8 Compliant

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Max % Issuer (Corporate & Commercial Paper; MV) 10.0 1.2 Compliant Max % Issuer (MV) 5.0 1.2 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE CD/
TD)
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant

FEDERAL AGENCIES
Max % (MV) 100.0 13.0 Compliant
Max Maturity (Years) 5 3 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 16.4 Compliant

LOCAL GOVERNMENT INVESTMENT POOL (LGIP)
Max % (MV) 100.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV; Money Market Fund & Mutual Fund) 20.0 0.4 Compliant Min Rating (AAA by 2) 0.0 0.0 Compliant

MORTGAGE-BACKED SECURITIES (NON-AGENCY)
Max % (MV) 20.0 0.0 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

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 100.0 3.8 Compliant
Max % Issuer (MV) 5.0 1.4 Compliant
Max Maturity (Years) 5 3 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 100.0 0.5 Compliant
Max % Issuer (MV) 5.0 0.5 Compliant
Max Maturity (Years) 5 0.0 Compliant

MUTUAL FUNDS
Max % (MV; Money Market Fund & Mutual Fund) 20.0 0.4 Compliant Max % Issuer (MV) 10.0 0.0 Compliant

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
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 1 Compliant

REPURCHASE AGREEMENTS
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 1.0 0.0 Compliant

REVERSE REPURCHASE AGREEMENTS
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 92.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 3.5 Compliant
Max % Issuer (MV) 5.0 1.6 Compliant
Max Maturity (Years) 5 3 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 52.7 Compliant
Max Maturity (Years) 5 4 Compliant

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

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
AGENCY
3133ERDZ1 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.75 05/08/2026 6,000,000.00 05/06/20244.85% 5,988,360.00
5,999,410.03
100.10

3.72%
6,005,874.00
113,208.33

0.92%
6,463.97
Aa1/AA+
AA+

0.10 0.10
3130AWGR5 FEDERAL HOME LOAN BANKS

4.375 06/12/2026 5,000,000.00 06/28/20234.45%
4,989,050.00
4,999,269.32
100.11

3.77%
5,005,390.00
66,232.64

0.77%
6,120.68
Aa1/AA+
AA+

0.20 0.20
3133ENV72 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 07/27/2026 3,000,000.00 10/24/20224.51% 2,998,950.00
2,999,910.46
100.23

3.73%
3,007,041.00
24,000.00

0.46%
7,130.54
Aa1/AA+
AA+

0.32 0.32
3133ENH45

FEDERAL FARM CREDIT
BANKS FUNDING CORP 3.125
08/24/2026
1,666,000.00 09/09/2022

3.58%
1,637,861.26
1,663,176.39

99.75 3.75%
1,661,866.65
5,350.87

0.25%
(1,309.74)
Aa1/AA+
AA+

0.40 0.39
3133EPUW3 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.75 09/01/2026 6,000,000.00 09/25/20234.96% 5,966,280.00
5,995,182.86
100.41

3.75%
6,024,324.00
23,750.00

0.92%
29,141.14
Aa1/AA+
AA+

0.42 0.41
3130AWTQ3 FEDERAL HOME LOAN BANKS

4.625 09/11/2026 5,250,000.00 08/30/20234.67%
5,243,332.50
5,249,018.25
100.39

3.73%
5,270,401.50
13,489.58

0.81%
21,383.25
Aa1/AA+
AA+

0.45 0.44
3133EJD55 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.3 09/28/2026 1,000,000.00 09/28/2022

4.14%
968,590.00
996,130.18

99.75 3.82%
997,499.00
275.00

0.15%
1,368.82
Aa1/AA+
AA+

0.50 0.48
3130ARHY0 FEDERAL HOME LOAN BANKS 3.0
10/21/2026 3,750,000.00 03/24/20223.00%
3,750,000.00
3,750,000.00

99.53 3.86%
3,732,326.25
50,000.00

0.57%
(17,673.75)
Aa1/AA+
AA+

0.56 0.54
3130APRK3 FEDERAL HOME LOAN BANKS

1.43 11/23/2026 2,600,000.00 02/28/20221.92%
2,541,500.00
2,592,015.04

98.49 3.82%
2,560,703.60
13,219.56

0.39%
(31,311.44)
Aa1/AA+
AA+

0.65 0.63
3130ATVE4 FEDERAL HOME LOAN BANKS 4.5
12/11/2026 1,650,000.00 11/30/20224.09%
1,675,007.40
1,654,315.14
100.51

3.74%
1,658,391.90
22,687.50

0.25%
4,076.76
Aa1/AA+
AA+

0.70 0.67
3130AYPN0 FEDERAL HOME LOAN BANKS

4.125 01/15/2027 6,500,000.00 01/26/20244.20%
6,486,090.00
6,496,284.67
100.29

3.75%
6,518,538.00
56,604.17

1.00%
22,253.33
Aa1/AA+
AA+

0.79 0.76
3133EP6K6 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 03/26/2027 7,000,000.00 04/18/20244.88% 6,928,250.00
6,975,949.35
100.67

3.80%
7,046,704.00
4,375.00

1.08%
70,754.65
Aa1/AA+
AA+

0.99 0.96
3133ERDS7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.75 05/06/2027 5,500,000.00 06/27/20244.57% 5,525,630.00
5,509,838.77
101.15

3.67%
5,563,162.00
105,225.69

0.85%
53,323.23
Aa1/AA+
AA+

1.10 1.04
3133ENL99

FEDERAL FARM CREDIT
BANKS FUNDING CORP 3.375
09/15/2027
3,500,000.00 09/08/2022

3.85%
3,487,890.00
3,496,485.26

99.44 3.77%
3,480,361.50
5,250.00

0.53%
(16,123.76)
Aa1/AA+
AA+

1.46 1.40
3133ENW63

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.375
10/27/2027
3,500,000.00 10/24/2022

4.92%
3,498,460.00
3,499,516.70
100.83

3.82%
3,529,200.50
65,503.47

0.54%
29,683.80
Aa1/AA+
AA+

1.57 1.48
3133ERGL9 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 06/07/2028 6,000,000.00 06/25/20244.44% 6,012,120.00
6,006,707.18
101.32

3.86%
6,079,326.00
85,500.00

0.93%
72,618.82
Aa1/AA+
AA+

2.19 2.04

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

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
3133EPUN3 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 08/28/2028 5,250,000.00 08/30/20234.35% 5,281,920.00
5,265,400.00
101.34

3.91%
5,320,329.00
21,656.25

0.82%
54,929.00
Aa1/AA+
AA+

2.41 2.26
3133EPC45

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.625
11/13/2028
6,400,000.00 11/10/2023

4.70%
6,379,648.00
6,389,339.43
101.73

3.92%
6,510,873.60
113,466.67

1.00%
121,534.17
Aa1/AA+
AA+

2.62 2.41
3133ERAK7

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.375
04/10/2029
5,000,000.00 04/25/2024

4.76%
4,915,350.00
4,948,321.41
101.50

3.84%
5,075,040.00
103,906.25

0.78%
126,718.59
Aa1/AA+
AA+

3.03 2.76
Total Agency 84,566,000.00 4.41%
84,274,289.16
84,486,270.42
100.57

3.79%
85,047,352.50
893,700.98

13.05%
561,082.08

1.19 1.12
CASH
PP3112$02 Neighborhood Bank CASH 4,275,983.10 --

4.10%
4,275,983.10
4,275,983.10

1.00 4.10%
4,275,983.10

0.00 0.66%

0.00 NA/NA
NA

0.00 0.00
CCYUSD Receivable 157,472.88 -- 157,472.88
157,472.88

1.00 157,472.88

0.00 0.02%

0.00 Aaa/AAA
AAA

0.00 0.00
CCYUSD Cash 6,824.89 --

0.00%
6,824.89
6,824.89

1.00 0.00%
6,824.89

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
CCYUSD Receivable 481.06 -- 481.06
481.06

1.00 481.06

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
CCYUSD Receivable 8,191.15 -- 8,191.15
8,191.15

1.00 8,191.15

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 4,448,953.08 4.09%
4,448,953.08
4,448,953.08

1.00 4.09%
4,448,953.08

0.00 0.68%

0.00 0.00

0.00 CORPORATE
87612EBE5 TARGET CORP 2.5 04/15/2026 3,751,000.00 --

4.26%
3,539,669.29
3,748,634.90

99.94 4.05%
3,748,678.13
43,240.69

0.58%

43.23 A2/A
A

0.04 0.04
69371RR32 PACCAR FINANCIAL CORP 1.1
05/11/2026 3,000,000.00 10/03/20224.39%
2,673,850.54
2,990,086.64

99.67 4.05%
2,990,145.00
12,833.33

0.46%

58.36 A1/A+
NA

0.11 0.11
931142EM1 WALMART INC 3.05 07/08/2026 1,900,000.00 09/23/2022

4.09%
1,829,939.40
1,895,039.06

99.76 3.94%
1,895,365.90
13,360.69

0.29%
326.84
Aa2/AA
AA

0.27 0.27
17275RBL5 CISCO SYSTEMS INC 2.5
09/20/2026 1,150,000.00 10/04/20224.04%
1,084,622.50
1,142,228.80

99.37 3.86%
1,142,757.30
878.47

0.18%
528.50
A1/AANA0.47

0.46 438516BL9 HONEYWELL INTERNATIONAL
INC 2.5 11/01/2026 1,185,000.00 08/01/20223.02%
1,160,092.98
1,181,567.87

99.11 4.06%
1,174,426.25
12,343.75

0.18%
(7,141.62)
A2/A
A

0.59 0.57

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

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
654106AF0 NIKE INC 2.375 11/01/2026 1,035,000.00 08/02/2022

3.13%
1,003,598.10
1,030,670.10

99.05 4.04%
1,025,158.19
10,242.19

0.16%
(5,511.91)
A2/A+
NA

0.59 0.57
452308AX7 ILLINOIS TOOL WORKS INC 2.65
11/15/2026 1,421,000.00 10/14/20224.82%
1,305,557.96
1,403,370.54

99.23 3.91%
1,410,054.04
14,225.79

0.22%
6,683.50
A1/A+
NA

0.63 0.60
002824BF6 ABBOTT LABORATORIES 3.75
11/30/2026 1,000,000.00 10/17/20224.69%
964,363.96
994,246.14

99.84 3.98%
998,446.00
12,604.17

0.15%
4,199.86
Aa3/A+
NA

0.67 0.64
26442CAS3 DUKE ENERGY CAROLINAS LLC

2.95 12/01/2026 7,500,000.00 08/23/20244.29%
7,285,500.00
7,436,713.42

99.28 4.06%
7,445,662.50
73,750.00

1.14%
8,949.08
Aa3/A
NA

0.67 0.65
78016HZT0 ROYAL BANK OF CANADA 4.875
01/19/2027 6,500,000.00 01/26/2024

4.75%
6,521,645.00
6,505,845.15
100.52

4.20%
6,533,949.50
63,375.00

1.00%
28,104.35
A1/A
AA0.800.77
61746BEF9 MORGAN STANLEY 3.625
01/20/2027 2,500,000.00 09/20/20235.62%
2,350,375.00
2,463,824.22

99.58 4.15%
2,489,552.50
17,873.26

0.38%
25,728.28
A1/AA+0.81

0.78 06048WS84 BANK OF AMERICA CORP 2.75
03/02/2027 4,000,000.00 02/28/20222.75%
4,000,000.00
4,000,000.00

98.16 4.82%
3,926,300.00
8,861.11

0.60%
(73,700.00)
A1/AAA0.92

0.89 808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 2,205,000.00 08/01/20223.34%
2,121,115.19
2,188,172.96

98.46 4.17%
2,170,996.70
4,201.75

0.33%
(17,176.26)
A2/AA0.92

0.90 713448ER5 PEPSICO INC 2.625 03/19/2027 1,935,000.00 08/02/2022

3.14%
1,892,043.00
1,926,052.74

98.74 3.96%
1,910,636.42
1,693.13

0.29%
(15,416.33)
A1/A+
NA

0.97 0.94
22160KAM7 COSTCO WHOLESALE CORP 3.0
05/18/2027 3,200,000.00 11/21/20224.29%
3,030,376.96
3,157,361.38

99.09 3.83%
3,170,819.20
35,466.67

0.49%
13,457.82
Aa3/AA
AA

1.13 1.09
58933YBC8 MERCK & CO INC 1.7 06/10/2027 3,200,000.00 08/02/2022

3.16%
2,988,096.00
3,148,010.02

97.38 3.97%
3,116,060.80
16,773.33

0.48%
(31,949.22)
Aa3/A+
NA

1.19 1.16
437076DB5 HOME DEPOT INC 4.875
06/25/2027 7,500,000.00 07/08/2024

4.76%
7,522,650.00
7,509,038.43
100.96

4.06%
7,572,345.00
97,500.00

1.16%
63,306.57
A2/A
A

1.24 1.10
63743HFT4

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.12 09/16/2027
7,500,000.00 09/10/2024

4.04%
7,517,400.00
7,508,209.40

99.80 4.26%
7,484,842.50
12,875.00

1.15%
(23,366.90)
A2/AA1.46

1.40 857477CP6 STATE STREET CORP 4.33
10/22/2027 7,500,000.00 11/08/20244.53%
7,458,525.00
7,478,026.75
100.19

4.20%
7,513,927.50
143,431.25

1.15%
35,900.75
Aa3/A
AA1.56

1.39 46647PEE2 JPMORGAN CHASE & CO 5.571
04/22/2028 6,000,000.00 05/15/20245.19%
6,061,500.00
6,022,185.98
101.22

4.47%
6,073,254.00
147,631.50

0.93%
51,068.02
A1/A
AA2.061.00
90331HPS6 US BANK NA 4.73 05/15/2028 6,500,000.00 05/22/2025

4.85%
6,504,550.00
6,503,203.92
100.36

4.47%
6,523,634.00
116,147.78

1.00%
20,430.08
A2/A+
A+

2.12 1.06
06406RCH8 BANK OF NEW YORK MELLON
CORP 4.441 06/09/2028 5,000,000.00 06/17/20254.41%
5,003,250.00
5,001,956.31
100.13

4.33%
5,006,615.00
69,082.22

0.77%
4,658.69
Aa3/A
AA2.191.13

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

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
532457DB1 ELI LILLY AND CO 4.0 10/15/2028 5,000,000.00 09/15/2025

3.82%
5,024,350.00
5,019,969.22

99.89 4.05%
4,994,460.00
122,777.78

0.77%
(25,509.22)
Aa3/A+
NA

2.54 2.33
61690DK72 MORGAN STANLEY BANK NA

5.016 01/12/2029 6,500,000.00 02/04/20254.89%
6,522,100.00
6,513,433.33
101.07

4.44%
6,569,569.50
71,547.67

1.01%
56,136.17
Aa3/A+
AA2.791.67
24422EXH7 JOHN DEERE CAPITAL CORP 4.5
01/16/2029 6,250,000.00 01/11/20244.56%
6,234,375.00
6,241,268.13
100.95

4.13%
6,309,575.00
58,593.75

0.97%
68,306.87
A1/A
A+

2.80 2.58
74340XBL4 PROLOGIS LP 4.375 02/01/2029 5,000,000.00 11/06/2025

4.06%
5,044,250.00
5,038,363.53
100.05

4.35%
5,002,720.00
36,458.33

0.77%
(35,643.53)
A2/A
NA

2.84 2.62
14913UAJ9 CATERPILLAR FINANCIAL
SERVICES CORP 4.85 02/27/2029 7,000,000.00 06/04/20244.77% 7,024,150.00
7,014,856.16
101.76

4.20%
7,122,990.00
32,063.89

1.09%
108,133.84
A2/A
A+

2.91 2.68
09290DAA9 BLACKROCK INC 4.7 03/14/2029 6,800,000.00 03/08/2024

4.56%
6,843,180.00
6,825,216.35
101.55

4.13%
6,905,699.20
15,092.22

1.06%
80,482.85
Aa3/AANA2.95

2.66 89115A2Y7 TORONTO-DOMINION BANK

4.994 04/05/2029 6,800,000.00 03/28/20244.98%
6,804,148.00
6,802,498.80
101.61

4.42%
6,909,561.60
166,022.76

1.06%
107,062.80
A2/AAA3.01

2.71 58989V2H6 MET TOWER GLOBAL FUNDING

5.25 04/12/2029 7,000,000.00 04/18/20245.49%
6,928,250.00
6,956,262.53
101.92

4.56%
7,134,533.00
172,520.83

1.09%
178,270.47
Aa3/AAAA3.03

2.71 91324PFG2 UNITEDHEALTH GROUP INC 4.8
01/15/2030 7,500,000.00 03/13/20254.74%
7,517,475.00
7,513,621.85
101.19

4.45%
7,589,595.00
76,000.00

1.16%
75,973.15
A2/A+
A

3.79 3.33
023135DD5 AMAZON.COM INC 4.25
03/13/2031 5,000,000.00 03/16/20264.35%
4,976,900.00
4,977,090.18

99.26 4.42%
4,963,150.00
10,625.00

0.76%
(13,940.18)
A1/AA
AA4.954.41
Total Corporate 148,332,000.00 4.48%
146,737,898.88
148,137,024.81
100.34

4.25%
148,825,479.71
1,690,093.32

22.83%
688,454.90

2.02 1.70
LAIF
90LAIF$00 Local Agency Investment Fund
State Pool 16,389,062.19 --3.82%
16,389,062.19
16,389,062.19

1.00 3.82%
16,389,062.19

0.00 2.51%

0.00 NA/NA
NA

0.00 0.00
Total LAIF 16,389,062.19 3.82%
16,389,062.19
16,389,062.19

1.00 3.82%
16,389,062.19

0.00 2.51%

0.00 0.00

0.00 LOCAL GOV

INVESTMENT
POOL
90SDCP$00 County of San Diego Investment
Pool 27,125.67 --

3.86%
27,125.67
27,125.67

1.00 3.86%
27,125.67

0.00 0.01%

0.00 NA/NA
AAA

0.00 0.00
Total Local Gov
Investment Pool 27,125.67 3.86%
27,125.67
27,125.67

1.00 3.86%
27,125.67

0.00 0.01%

0.00 0.00

0.00

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

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

MONEY MARKET
FUND
X9USDJPMR JPMORGAN:US GVT MM INST 164,751.37 --

3.51%
164,751.37
164,751.37

1.00 3.51%
164,751.37

0.00 0.03%

0.00 Aaa/
AAAm
AAA

0.00 0.00
X9USDJPMR JPMORGAN:US GVT MM INST 2,178,999.67 --

3.51%
2,178,999.67
2,178,999.67

1.00 3.51%
2,178,999.67

0.00 0.33%

0.00 Aaa/
AAAm
AAA

0.00 0.00
Total Money
Market Fund 2,343,751.04 3.51%
2,343,751.04
2,343,751.04

1.00 3.51%
2,343,751.04

0.00 0.36%

0.00 0.00

0.00 MUNICIPAL
BONDS
13063DMA3 CALIFORNIA STATE 2.65
04/01/2026 3,200,000.00 05/05/20223.26%
3,127,936.00
3,200,000.00
100.00

2.65%
3,200,000.00
42,400.00

0.49%

0.00 Aa2/AAAA0.00

0.09 817409N43 SEQUOIA CALIF UN HIGH SCH
DIST 1.831 07/01/2026 2,050,000.00 10/26/20224.66%
1,856,131.50
2,036,873.49

99.52 3.77%
2,040,065.70
9,383.88

0.31%
3,192.21
Aaa/NA
NA

0.25 0.25
446222US8

HUNTINGTON BEACH CALIF
UN HIGH SCH DIST 1.208
08/01/2026
3,510,000.00 08/01/2022

3.23%
3,241,765.80
3,487,601.25

99.10 3.92%
3,478,581.99
7,066.80

0.53%
(9,019.26)
NA/AANA0.34

0.33 544351MS5 LOS ANGELES CALIF 3.5
09/01/2026 1,085,000.00 09/23/20224.30%
1,053,144.40
1,081,612.99

99.76 4.07%
1,082,410.11
3,164.58

0.17%
797.12
Aa3/AANA0.42

0.41 20772KEX3 CONNECTICUT ST 3.8
09/15/2026 3,000,000.00 09/14/20223.91%
2,987,880.00
2,998,615.57

99.98 3.84%
2,999,367.00
5,066.67

0.46%
751.43
Aa2/AAAA0.46

0.45 91412HGF4 UNIVERSITY CALIF REVS 1.316
05/15/2027 1,340,000.00 08/30/20223.81%
1,194,878.00
1,305,471.26

97.18 3.91%
1,302,221.38
6,661.88

0.20%
(3,249.88)
Aa2/AA
AA

1.12 1.09
769036BP8 RIVERSIDE CALIF PENSION OBLIG

2.64 06/01/2027 1,500,000.00 11/03/20225.27%
1,341,120.00
1,459,495.58

98.41 4.04%
1,476,211.50
13,200.00

0.23%
16,715.92
NA/AA
AA

1.17 1.12
817409N50 SEQUOIA CALIF UN HIGH SCH
DIST 1.951 07/01/2027 2,150,000.00 08/30/2022

3.83%
1,969,658.00
2,103,433.77

97.84 3.73%
2,103,566.45
10,486.63

0.32%
132.68
Aaa/NA
NA

1.25 1.21
797272QS3 SAN DIEGO CALIF CMNTY
COLLEGE DIST 2.407 08/01/2027 1,300,000.00 08/04/20223.25% 1,249,326.00
1,286,462.84

98.25 3.76%
1,277,226.60
5,215.17

0.20%
(9,236.24)
Aa1/AAA
NA

1.34 1.29
786318LF0 SADDLEBACK VY UNI SCH DIST
CALIF 2.4 08/01/2027 1,805,000.00 08/10/20223.34%
1,726,681.05
1,784,008.62

98.11 3.86%
1,770,921.60
7,220.00

0.27%
(13,087.02)
Aa1/NA
NA

1.34 1.29

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

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
62451FKL3

MOUNTAIN VIEW-WHISMAN
CALIF SCH DIST 1.912
09/01/2027
970,000.00 10/13/2022

4.91%
844,928.20
933,684.31

97.38 3.83%
944,630.62
1,545.53

0.14%
10,946.31
Aaa/AAA
NA

1.42 1.38
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029 6,000,000.00 11/22/20244.48%
6,005,880.00
6,004,188.21
101.76

3.93%
6,105,762.00
45,000.00

0.94%
101,573.79
Aa2/AAAA3.34

3.05 Total Municipal
Bonds 27,910,000.00 3.97%
26,599,328.95
27,681,447.90

99.56 3.74%
27,780,964.95
156,411.13

4.26%
99,517.04

1.27 1.20

NEGOTIABLE CD
01882MAC6 Alliant Credit Union 5.0
12/30/2027 249,000.00 12/21/2022

5.00%
249,000.00
249,000.00
101.86

3.90%
253,624.93

68.22 0.04%
4,624.93
NA/NA
NA

1.75 1.67
Total Negotiable
CD 249,000.00 5.00%
249,000.00
249,000.00
101.86

3.90%
253,624.93

68.22 0.04%
4,624.93

1.75 1.67

SUPRANATIONAL
4581X0CU0

INTER-AMERICAN
DEVELOPMENT BANK 2.0
06/02/2026
3,000,000.00 08/03/2022

3.09%
2,881,139.04
2,994,732.40

99.68 3.85%
2,990,529.00
19,833.33

0.46%
(4,203.40)
Aaa/AAA
AAA

0.17 0.17
45950KCX6 INTERNATIONAL FINANCE CORP

0.75 10/08/2026 4,000,000.00 01/20/20221.61%
3,842,373.68
3,982,608.01

98.43 3.84%
3,937,028.00
14,416.67

0.60%
(45,580.01)
Aaa/AAA
NA

0.52 0.51
4581X0EM6

INTER-AMERICAN
DEVELOPMENT BANK 4.375
02/01/2027
6,000,000.00 12/06/2023

4.40%
5,996,640.00
5,999,103.61
100.42

3.86%
6,025,002.00
43,750.00

0.92%
25,898.39
Aaa/AAA
NA

0.84 0.81
459058KW2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.625 08/01/2028
5,000,000.00 10/04/2023

4.88%
4,945,600.00
4,973,649.52
101.78

3.82%
5,088,875.00
38,541.67

0.78%
115,225.48
Aaa/AAA
NA

2.34 2.18
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
5,000,000.00 03/27/2025

4.21%
4,981,050.00
4,984,896.29
100.81

3.90%
5,040,485.00
6,302.08

0.77%
55,588.71
Aaa/AAA
NA

3.97 3.63
Total
Supranational 23,000,000.00 3.82%
22,646,802.72
22,934,989.82
100.37

3.85%
23,081,919.00
122,843.75

3.54%
146,929.18

1.71 1.59

US TREASURY
912797SD0 UNITED STATES TREASURY
04/02/2026 4,000,000.00 03/16/20263.69%
3,993,546.67
3,999,596.67

99.99 3.69%
3,999,596.00

0.00 0.61%
(0.67)
P-1/A-1+
F1+

0.01 0.00

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

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
912797TG2 UNITED STATES TREASURY
04/07/2026 4,200,000.00 12/09/20253.71%
4,150,199.08
4,197,467.75

99.94 3.66%
4,197,471.60

0.00 0.64%

3.85 P-1/A-1+
F1+

0.02 0.02
91282CGV7 UNITED STATES TREASURY 3.75
04/15/2026 2,400,000.00 09/11/20243.77%
2,399,250.00
2,399,981.90
100.00

3.70%
2,399,983.20
41,538.46

0.37%

1.30 Aa1/AA+
AA+

0.04 0.04
91282CHB0 UNITED STATES TREASURY 3.625
05/15/2026 5,000,000.00 11/28/20234.69%
4,877,148.44
4,993,980.55

99.98 3.75%
4,998,915.00
68,594.61

0.77%
4,934.45
Aa1/AA+
AA+

0.12 0.12
912797TS6 UNITED STATES TREASURY
05/19/2026 4,000,000.00 01/16/20263.67%
3,952,763.61
3,980,946.67

99.52 3.70%
3,980,640.00

0.00 0.61%
(306.67)
P-1/A-1+
F1+

0.13 0.13
912797TU1 UNITED STATES TREASURY
06/02/2026 4,000,000.00 02/04/2026

3.68%
3,953,370.30
3,975,290.24

99.38 3.68%
3,975,120.00

0.00 0.61%
(170.24)
P-1/A-1+
F1+

0.17 0.17
91282CHH7 UNITED STATES TREASURY 4.125
06/15/2026 5,000,000.00 11/28/20234.69%
4,933,398.44
4,994,623.12
100.08

3.69%
5,004,015.00
60,628.43

0.77%
9,391.88
Aa1/AA+
AA+

0.21 0.20
912797RF6 UNITED STATES TREASURY
07/09/2026 4,000,000.00 02/04/20263.65%
3,939,255.56
3,960,950.00

99.01 3.69%
3,960,340.00

0.00 0.61%
(610.00)
P-1/A-1+
F1+

0.27 0.27
912797RG4 UNITED STATES TREASURY
08/06/2026 4,000,000.00 02/04/20263.65%
3,928,565.00
3,950,152.50

98.73 3.69%
3,949,344.00

0.00 0.61%
(808.50)
P-1/A-1+
F1+

0.35 0.34
912810EX2 UNITED STATES TREASURY 6.75
08/15/2026 3,500,000.00 11/22/20224.11%
3,821,152.34
3,532,068.07
101.06

3.85%
3,537,187.50
29,368.09

0.54%
5,119.43
Aa1/AA+
AA+

0.38 0.37
91282CHY0 UNITED STATES TREASURY 4.625
09/15/2026 4,000,000.00 02/04/20263.61%
4,023,906.25
4,017,983.53
100.39

3.75%
4,015,536.00
8,546.20

0.62%
(2,447.53)
Aa1/AA+
AA+

0.46 0.45
91282CJC6 UNITED STATES TREASURY 4.625
10/15/2026 4,000,000.00 02/04/20263.62%
4,026,875.00
4,021,009.42
100.45

3.77%
4,018,088.00
85,384.62

0.62%
(2,921.42)
Aa1/AA+
AA+

0.54 0.52
912828U24 UNITED STATES TREASURY 2.0
11/15/2026 5,800,000.00 02/12/20263.59%
5,732,257.81
5,743,835.57

98.92 3.77%
5,737,267.20
43,900.55

0.88%
(6,568.37)
Aa1/AA+
AA+

0.63 0.61
912828U24 UNITED STATES TREASURY 2.0
11/15/2026 5,000,000.00 09/15/20253.68%
4,905,078.13
4,949,077.21

98.92 3.77%
4,945,920.00
37,845.30

0.76%
(3,157.21)
Aa1/AA+
AA+

0.63 0.61
91282CJP7 UNITED STATES TREASURY 4.375
12/15/2026 5,000,000.00 03/16/20263.67%
5,025,585.94
5,024,180.12
100.43

3.75%
5,021,435.00
64,302.88

0.77%
(2,745.12)
Aa1/AA+
AA+

0.71 0.68
91282CJP7 UNITED STATES TREASURY 4.375
12/15/2026 6,500,000.00 02/13/20244.44%
6,489,082.03
6,497,278.42
100.43

3.75%
6,527,865.50
83,593.75

1.00%
30,587.08
Aa1/AA+
AA+

0.71 0.68
912828V98 UNITED STATES TREASURY 2.25
02/15/2027 3,200,000.00 09/20/20234.67%
2,959,125.00
3,137,988.74

98.70 3.77%
3,158,464.00
8,950.28

0.48%
20,475.26
Aa1/AA+
AA+

0.88 0.85
91282CMV0 UNITED STATES TREASURY 3.875
03/31/2027 8,000,000.00 11/06/20253.61%
8,028,437.50
8,020,336.44
100.13

3.74%
8,010,560.00
846.99

1.23%
(9,776.44)
Aa1/AA+
AA+

1.00 0.97
91282CKJ9 UNITED STATES TREASURY 4.5
04/15/2027 9,000,000.00 12/15/2025

3.53%
9,112,500.00
9,087,912.37
100.76

3.74%
9,068,517.00
186,923.08

1.39%
(19,395.37)
Aa1/AA+
AA+

1.04 0.99

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

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
91282CEN7 UNITED STATES TREASURY 2.75
04/30/2027 10,500,000.00 --4.65%
9,882,773.44
10,302,853.72

98.92 3.78%
10,386,274.50
121,243.09

1.59%
83,420.78
Aa1/AA+
AA+

1.08 1.04
91282CKZ3 UNITED STATES TREASURY 4.375
07/15/2027 6,000,000.00 02/04/20254.23%
6,020,156.25
6,010,644.31
100.68

3.83%
6,040,782.00
55,110.50

0.93%
30,137.69
Aa1/AA+
AA+

1.29 1.23
91282CNP2 UNITED STATES TREASURY 3.875
07/31/2027 8,000,000.00 11/06/20253.58%
8,039,375.00
8,030,326.86
100.04

3.84%
8,003,128.00
51,381.22

1.23%
(27,198.86)
Aa1/AA+
AA+

1.33 1.28
91282CLG4 UNITED STATES TREASURY 3.75
08/15/2027 8,000,000.00 08/07/20243.85%
7,978,437.50
7,990,134.42

99.88 3.84%
7,990,000.00
37,292.82

1.23%
(134.42)
Aa1/AA+
AA+

1.38 1.32
91282CPB1 UNITED STATES TREASURY 3.5
09/30/2027 10,000,000.00 10/15/2025

3.50%
9,999,609.38
9,999,700.74

99.51 3.84%
9,951,170.00
956.28

1.53%
(48,530.74)
Aa1/AA+
AA+

1.50 1.44
91282CLQ2 UNITED STATES TREASURY 3.875
10/15/2027 10,000,000.00 10/17/20253.46%
10,079,296.88
10,061,468.76
100.06

3.83%
10,006,250.00
178,846.15

1.54%
(55,218.76)
Aa1/AA+
AA+

1.54 1.45
91282CFZ9 UNITED STATES TREASURY 3.875
11/30/2027 6,000,000.00 10/23/20234.86%
5,782,500.00
5,911,722.30
100.06

3.84%
6,003,516.00
77,925.82

0.92%
91,793.70
Aa1/AA+
AA+

1.67 1.58
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 6,000,000.00 12/06/20234.20%
5,927,812.50
5,968,937.50
100.07

3.83%
6,004,218.00
58,446.13

0.92%
35,280.50
Aa1/AA+
AA+

1.75 1.66
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 6,000,000.00 12/06/20234.20%
5,840,859.38
5,929,667.40

99.43 3.82%
5,965,782.00
34,806.63

0.92%
36,114.60
Aa1/AA+
AA+

1.84 1.75
9128283W8 UNITED STATES TREASURY 2.75
02/15/2028 6,400,000.00 11/10/20234.67%
5,931,250.00
6,193,508.84

98.08 3.82%
6,277,248.00
21,878.45

0.96%
83,739.16
Aa1/AA+
AA+

1.88 1.80
91282CMS7 UNITED STATES TREASURY 3.875
03/15/2028 6,000,000.00 08/14/20253.68%
6,028,359.38
6,021,472.53
100.11

3.81%
6,006,798.00
10,740.49

0.92%
(14,674.53)
Aa1/AA+
AA+

1.96 1.86
91282CGT2 UNITED STATES TREASURY 3.625
03/31/2028 6,500,000.00 02/04/20254.26%
6,379,902.34
6,423,764.09

99.64 3.82%
6,476,385.50
643.78

0.99%
52,621.41
Aa1/AA+
AA+

2.00 1.91
91282CMW8 UNITED STATES TREASURY 3.75
04/15/2028 8,000,000.00 04/15/20253.84%
7,979,687.50
7,986,180.08

99.86 3.82%
7,989,064.00
138,461.54

1.23%
2,883.92
Aa1/AA+
AA+

2.04 1.91
9128284N7 UNITED STATES TREASURY 2.875
05/15/2028 6,500,000.00 02/04/20254.27%
6,225,019.53
6,321,665.39

98.10 3.82%
6,376,350.50
70,723.41

0.98%
54,685.11
Aa1/AA+
AA+

2.12 2.01
91282CCR0 UNITED STATES TREASURY 1.0
07/31/2028 8,000,000.00 09/24/20243.50%
7,284,687.50
7,566,230.43

93.77 3.81%
7,501,872.00
13,259.67

1.15%
(64,358.43)
Aa1/AA+
AA+

2.33 2.27
91282CNU1 UNITED STATES TREASURY 3.625
08/15/2028 6,000,000.00 08/14/20253.69%
5,988,750.00
5,991,100.59

99.57 3.81%
5,974,452.00
27,037.29

0.92%
(16,648.59)
Aa1/AA+
AA+

2.38 2.25
91282CJA0 UNITED STATES TREASURY 4.625
09/30/2028 6,000,000.00 10/23/20234.82%
5,949,375.00
5,974,364.60
101.91

3.81%
6,114,846.00
758.20

0.94%
140,481.40
Aa1/AA+
AA+

2.50 2.34
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 6,500,000.00 01/26/2024

4.02%
6,737,148.44
6,628,882.05
102.55

3.83%
6,665,802.00
133,052.49

1.02%
36,919.95
Aa1/AA+
AA+

2.59 2.36

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

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
91282CPK1 UNITED STATES TREASURY 3.5
11/15/2028 8,000,000.00 03/04/20263.52%
7,995,625.00
7,995,744.80

99.19 3.83%
7,935,312.00
105,966.85

1.22%
(60,432.80)
Aa1/AA+
AA+

2.63 2.45
91282CPP0 UNITED STATES TREASURY 3.5
12/15/2028 3,000,000.00 02/25/20263.47%
3,002,578.13
3,002,492.44

99.17 3.82%
2,975,157.00
30,865.38

0.46%
(27,335.44)
Aa1/AA+
AA+

2.71 2.53
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 5,000,000.00 02/04/20254.31%
4,901,171.88
4,930,300.17

99.80 3.83%
4,990,040.00
47,133.98

0.77%
59,739.83
Aa1/AA+
AA+

2.75 2.56
91282CPT2 UNITED STATES TREASURY 3.5
01/15/2029 5,000,000.00 02/03/20263.65%
4,978,515.63
4,979,633.78

99.15 3.82%
4,957,420.00
36,740.33

0.76%
(22,213.78)
Aa1/AA+
AA+

2.79 2.61
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 7,000,000.00 04/18/2024

4.68%
6,830,195.31
6,897,102.30
100.83

3.83%
7,058,240.00
788.93

1.08%
161,137.70
Aa1/AA+
AA+

3.00 2.80
9128286T2 UNITED STATES TREASURY 2.375
05/15/2029 8,000,000.00 03/04/20263.54%
7,721,562.50
7,728,004.50

95.74 3.83%
7,659,376.00
71,906.08

1.17%
(68,628.50)
Aa1/AA+
AA+

3.12 2.94
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029 7,000,000.00 06/02/20253.98%
7,134,257.81
7,106,448.58
101.94

3.84%
7,135,625.00
105,576.92

1.09%
29,176.42
Aa1/AA+
AA+

3.17 2.89
91282CEV9 UNITED STATES TREASURY 3.25
06/30/2029 7,500,000.00 07/29/20244.09%
7,222,558.59
7,316,789.80

98.18 3.85%
7,363,770.00
61,274.17

1.13%
46,980.20
Aa1/AA+
AA+

3.25 3.03
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 9,000,000.00 09/12/20253.60%
9,129,726.56
9,111,574.01
100.45

3.86%
9,040,077.00
59,668.51

1.39%
(71,497.01)
Aa1/AA+
AA+

3.33 3.08
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 7,500,000.00 10/28/20244.08%
7,307,812.50
7,363,319.07

98.80 3.87%
7,409,767.50
717.21

1.14%
46,448.43
Aa1/AA+
AA+

3.50 3.26
91282CFT3 UNITED STATES TREASURY 4.0
10/31/2029 9,500,000.00 01/07/20254.46%
9,311,113.28
9,359,275.63
100.40

3.88%
9,537,848.00
159,558.01

1.46%
178,572.37
Aa1/AA+
AA+

3.59 3.25
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 7,000,000.00 12/04/20244.09%
7,011,757.81
7,008,645.64
100.83

3.88%
7,057,967.00
96,778.85

1.08%
49,321.36
Aa1/AA+
AA+

3.67 3.33
91282CMD0 UNITED STATES TREASURY 4.375
12/31/2029 8,000,000.00 12/30/20244.37%
8,000,312.50
8,000,234.46
101.69

3.88%
8,135,312.00
87,983.43

1.25%
135,077.54
Aa1/AA+
AA+

3.75 3.40
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 7,000,000.00 06/02/20254.02%
6,993,710.94
6,994,752.79
100.34

3.91%
7,023,786.00
93,846.15

1.08%
29,033.21
Aa1/AA+
AA+

4.17 3.75
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030 12,000,000.00 12/04/20253.68%
11,902,968.75
11,909,203.05

98.16 3.93%
11,779,224.00
140,769.23

1.81%
(129,979.05)
Aa1/AA+
AA+

4.67 4.21
91282CPR6 UNITED STATES TREASURY 3.625
12/31/2030 7,500,000.00 01/27/20263.81%
7,437,597.66
7,439,784.17

98.64 3.94%
7,398,045.00
68,344.27

1.13%
(41,739.17)
Aa1/AA+
AA+

4.75 4.28
91282CPW5 UNITED STATES TREASURY 3.75
01/31/2031 6,000,000.00 02/03/20263.85%
5,973,984.38
5,974,783.98

99.15 3.94%
5,948,904.00
37,292.82

0.91%
(25,879.98)
Aa1/AA+
AA+

4.84 4.35
Total US Treasury 345,000,000.00 3.96%
341,161,946.35
342,915,373.10

99.63 3.82%
343,646,074.00
2,958,198.35

52.72%
730,700.90

2.10 1.95

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista | As of March 31, 2026

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
Total Portfolio 652,265,891.98 4.13%
644,878,158.04
649,612,998.04

96.42 3.91%
651,844,307.06
5,821,315.75
100.00%
2,231,309.03

1.84 1.67
Total Market Value
+ Accrued 657,665,622.81

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Maturity Mar 2026 Dec 2025 Change Mar 2025 Mar 2024 Mar 2023 Mar 2022 3-Month 3.70% 3.67% 0.03% 3.89% 4.59% 4.06% 2.28%
1-Year 3.68% 3.48% 0.20%
2-Year 3.79% 3.47% 0.32%
3-Year 3.81% 3.55% 0.26% Apr-25 3.6 Oct-25 3.60
5-Year 3.92% 3.73% 0.19% May-25 3.89 Nov-25 3.47
10-Year 4.30% 4.18% 0.12% Jun-25 3.72 Dec-25 3.47
Jul-25 3.94 Jan-26 3.52
Aug-25 3.59 Feb-26 3.38
Sep-25 3.6 Mar-26 3.79
12 Month Average 3.63
Investment Report for the Quarter Ended March 31, 2026
City of Chula Vista
U.S. Treasury Yields and Interest Earnings
2-Year U.S. Treasury Yield - 12 Month Average
Total for Quarter $ 6,600,884.98 $ 5,417,196.80 $ 1,183,688.18 U.S. Treasury Yields - Quarterly Comparison 2-Year U.S. Treasury Yield - Historical Data Interest Earnings - Quarter Ending 03/31/2025 & 03/31/2026 $ 1,671,337.41
$ 1,737,686.08
$ 3,036,261.83
$ 2,109,526.59
$ 1,455,096.56
2026 2025 Change
March
February
January
$ 1,028,088.52
$ 438,189.18
$ (282,589.52)
$ 2,008,173.31

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista|01/01/2026 Through 03/31/2026|
Buy
Settlement
Date
CUSIP Quantity Security Description Acq/Disp Yield Book Value S&P Rating Security Type 01/20/2026 912797TS6 4,000,000.00 UNITED STATES TREASURY 05/19/2026 3.6654 (3,952,763.61) A-1+ US Treasury 01/28/2026 91282CPR6 7,500,000.00 UNITED STATES TREASURY 3.625 12/31/2030 3.8115 (7,437,597.66) AA+ US Treasury 02/04/2026 91282CPT2 5,000,000.00 UNITED STATES TREASURY 3.5 01/15/2029 3.6547 (4,978,515.63) AA+ US Treasury 02/04/2026 91282CPW5 6,000,000.00 UNITED STATES TREASURY 3.75 01/31/2031 3.8463 (5,973,984.38) AA+ US Treasury 02/05/2026 912797RF6 4,000,000.00 UNITED STATES TREASURY 07/09/2026 3.6548 (3,939,255.56) A-1+ US Treasury 02/05/2026 912797RG4 4,000,000.00 UNITED STATES TREASURY 08/06/2026 3.6467 (3,928,565.00) A-1+ US Treasury 02/05/2026 912797TU1 4,000,000.00 UNITED STATES TREASURY 06/02/2026 3.6796 (3,953,370.30) A-1+ US Treasury 02/05/2026 91282CHY0 4,000,000.00 UNITED STATES TREASURY 4.625 09/15/2026 3.6116 (4,023,906.25) AA+ US Treasury 02/05/2026 91282CJC6 4,000,000.00 UNITED STATES TREASURY 4.625 10/15/2026 3.6224 (4,026,875.00) AA+ US Treasury 02/13/2026 912828U24 5,800,000.00 UNITED STATES TREASURY 2.0 11/15/2026 3.5863 (5,732,257.81) AA+ US Treasury 02/26/2026 91282CPP0 3,000,000.00 UNITED STATES TREASURY 3.5 12/15/2028 3.4662 (3,002,578.13) AA+ US Treasury 03/05/2026 9128286T2 8,000,000.00 UNITED STATES TREASURY 2.375 05/15/2029 3.5354 (7,721,562.50) AA+ US Treasury 03/05/2026 91282CPK1 8,000,000.00 UNITED STATES TREASURY 3.5 11/15/2028 3.5200 (7,995,625.00) AA+ US Treasury 03/17/2026 023135DD5 5,000,000.00 AMAZON.COM INC 4.25 03/13/2031 4.3539 (4,976,900.00) AA Corporate 03/17/2026 912797SD0 4,000,000.00 UNITED STATES TREASURY 04/02/2026 3.6864 (3,993,546.67) A-1+ US Treasury 03/17/2026 91282CJP7 5,000,000.00 UNITED STATES TREASURY 4.375 12/15/2026 3.6677 (5,025,585.94) AA+ US Treasury 81,300,000.00

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista|01/01/2026 Through 03/31/2026|
Maturity
Settlement
Date
CUSIP Quantity Security Description Acq/Disp Yield Book Value S&P Rating Security Type 01/15/2026 912797RJ8 (4,000,000.00) UNITED STATES TREASURY 01/15/2026 4.0735 4,000,000.00 A-1+ US Treasury 01/27/2026 3133ENMM9 (3,500,000.00) FEDERAL FARM CREDIT BANKS FUNDING CORP 1.44 01/27/2026 1.5479 3,500,000.00 AA+ Agency 01/31/2026 91282CJV4 (8,000,000.00) UNITED STATES TREASURY 4.25 01/31/2026 3.9988 8,000,000.00 AA+ US Treasury 02/12/2026 912797RT6 (5,800,000.00) UNITED STATES TREASURY 02/12/2026 3.8313 5,800,000.00 A-1+ US Treasury 02/24/2026 713448DF2 (1,872,000.00) PEPSICO INC 2.85 02/24/2026 4.3099 1,872,000.00 A+ Corporate 02/28/2026 17275RBC5 (3,500,000.00) CISCO SYSTEMS INC 2.95 02/28/2026 4.3103 3,500,000.00 AA- Corporate 02/28/2026 9128286F2 (5,000,000.00) UNITED STATES TREASURY 2.5 02/28/2026 4.1256 5,000,000.00 AA+ US Treasury 03/05/2026 912797RV1 (6,500,000.00) UNITED STATES TREASURY 03/05/2026 3.7747 6,500,000.00 A-1+ US Treasury 03/10/2026 3133ENRG7 (3,500,000.00) FEDERAL FARM CREDIT BANKS FUNDING CORP 2.22 03/10/2026 2.5644 3,500,000.00 AA+ Agency 03/15/2026 91282CGR6 (5,000,000.00) UNITED STATES TREASURY 4.625 03/15/2026 4.7341 5,000,000.00 AA+ US Treasury 03/17/2026 912797SZ1 (5,000,000.00) UNITED STATES TREASURY 03/17/2026 3.8495 5,000,000.00 A-1+ US Treasury (51,672,000.00)
Called
Settlement
Date
CUSIP Quantity Security Description Acq/Disp Yield Book Value S&P Rating Security Type 01/29/2026 46647PBA3 (2,500,000.00) JPMORGAN CHASE & CO 3.96 01/29/2027 6.1783 2,500,000.00 A Corporate (2,500,000.00)

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista Reporting Date: 3/31/2026
Portfolio Maturity Distribution 0 - 182 Days 183 - 365 Days 366 - 730 Days 731 - 1095 Days 1096 - 1460 Days 1461 - 1825 Days Issuer Original Par Maturity Date Days to Maturity Under 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Farm Credit System 6,000,000.00 5/8/2026 38 6,000,000.00 $ $ - $ - $ - $ - $ - Federal Home Loan Banks 5,000,000.00 6/12/2026 73 5,000,000.00 $ $ - $ - $ - $ - $ - Farm Credit System 3,000,000.00 7/27/2026 118 3,000,000.00 $ $ - $ - $ - $ - $ - Farm Credit System 1,666,000.00 8/24/2026 146 1,666,000.00 $ $ - $ - $ - $ - $ - Farm Credit System 6,000,000.00 9/1/2026 154 6,000,000.00 $ $ - $ - $ - $ - $ - Federal Home Loan Banks 5,250,000.00 9/11/2026 164 5,250,000.00 $ $ - $ - $ - $ - $ - Farm Credit System 1,000,000.00 9/28/2026 181 1,000,000.00 $ $ - $ - $ - $ - $ - Federal Home Loan Banks 3,750,000.00 10/21/2026 204 $ 3,750,000.00 - $ $ - $ - $ - $ - Federal Home Loan Banks 2,600,000.00 11/23/2026 237 $ 2,600,000.00 - $ $ - $ - $ - $ - Federal Home Loan Banks 1,650,000.00 12/11/2026 255 $ 1,650,000.00 - $ $ - $ - $ - $ - Federal Home Loan Banks 6,500,000.00 1/15/2027 290 $ 6,500,000.00 - $ $ - $ - $ - $ - Farm Credit System 7,000,000.00 3/26/2027 360 $ 7,000,000.00 - $ $ - $ - $ - $ - Farm Credit System 5,500,000.00 5/6/2027 401 $ - $ - $ 5,500,000.00 $ - $ - $ - Farm Credit System 3,500,000.00 9/15/2027 533 $ - $ - $ 3,500,000.00 $ - $ - $ - Farm Credit System 3,500,000.00 10/27/2027 575 $ - $ - $ 3,500,000.00 $ - $ - $ - Farm Credit System 6,000,000.00 6/7/2028 799 $ - $ - $ 6,000,000.00 - $ $ - $ - Farm Credit System 5,250,000.00 8/28/2028 881 $ - $ - $ 5,250,000.00 - $ $ - $ - Farm Credit System 6,400,000.00 11/13/2028 958 $ - $ - $ 6,400,000.00 - $ $ - $ - Farm Credit System 5,000,000.00 4/10/2029 1106 $ - $ - $ - $ 5,000,000.00 - $ $ - Agency $ 27,916,000.00 $ 21,500,000.00 $ 12,500,000.00 $ 17,650,000.00 $ 5,000,000.00 $ - Commercial Paper $ - $ - $ - $ - $ - $ -
Target Corporation 1,850,000.00 4/15/2026 15 1,850,000.00 $ $ - $ - $ - $ - $ - Target Corporation 1,901,000.00 4/15/2026 15 1,901,000.00 $ $ - $ - $ - $ - $ - PACCAR Inc 3,000,000.00 5/11/2026 41 3,000,000.00 $ $ - $ - $ - $ - $ - Walmart Inc. 1,900,000.00 7/8/2026 99 1,900,000.00 $ $ - $ - $ - $ - $ - Cisco Systems, Inc. 1,150,000.00 9/20/2026 173 1,150,000.00 $ $ - $ - $ - $ - $ - NIKE, Inc. 1,035,000.00 11/1/2026 215 $ 1,035,000.00 - $ $ - $ - $ - $ - Honeywell International Inc. 1,185,000.00 11/1/2026 215 $ 1,185,000.00 - $ $ - $ - $ - $ - Illinois Tool Works Inc. 1,421,000.00 11/15/2026 229 $ 1,421,000.00 - $ $ - $ - $ - $ - Abbott Laboratories 1,000,000.00 11/30/2026 244 $ 1,000,000.00 - $ $ - $ - $ - $ - Duke Energy Corporation 7,500,000.00 12/1/2026 245 $ 7,500,000.00 - $ $ - $ - $ - $ - Royal Bank of Canada 6,500,000.00 1/19/2027 294 $ 6,500,000.00 - $ $ - $ - $ - $ - Morgan Stanley 2,500,000.00 1/20/2027 295 $ 2,500,000.00 - $ $ - $ - $ - $ - Bank of America Corporation 4,000,000.00 3/2/2027 336 $ 4,000,000.00 - $ $ - $ - $ - $ - The Charles Schwab Corporation 2,205,000.00 3/3/2027 337 $ 2,205,000.00 - $ $ - $ - $ - $ - PepsiCo, Inc. 1,935,000.00 3/19/2027 353 $ 1,935,000.00 - $ $ - $ - $ - $ - Costco Wholesale Corporation 3,200,000.00 5/18/2027 413 $ - $ - $ 3,200,000.00 $ - $ - $ - Merck & Co., Inc. 3,200,000.00 6/10/2027 436 $ - $ - $ 3,200,000.00 $ - $ - $ - The Home Depot, Inc. 7,500,000.00 6/25/2027 451 $ - $ - $ 7,500,000.00 $ - $ - $ - National Rural Utilities Cooperative 7,500,000.00 9/16/2027 534 $ - $ - $ 7,500,000.00 $ - $ - $ - State Street Corporation 7,500,000.00 10/22/2027 570 $ - $ - $ 7,500,000.00 $ - $ - $ - JPMorgan Chase & Co. 6,000,000.00 4/22/2028 753 $ - $ - $ 6,000,000.00 - $ $ - $ - U.S. Bancorp 6,500,000.00 5/15/2028 776 $ - $ - $ 6,500,000.00 - $ $ - $ - BNY Mellon Corp 5,000,000.00 6/9/2028 801 $ - $ - $ 5,000,000.00 - $ $ - $ - Eli Lilly and Company 5,000,000.00 10/15/2028 929 $ - $ - $ 5,000,000.00 - $ $ - $ - Morgan Stanley 6,500,000.00 1/12/2029 1018 $ - $ - $ 6,500,000.00 - $ $ - $ -

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista Reporting Date: 3/31/2026
Portfolio Maturity Distribution 0 - 182 Days 183 - 365 Days 366 - 730 Days 731 - 1095 Days 1096 - 1460 Days 1461 - 1825 Days Issuer Original Par Maturity Date Days to Maturity Under 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Deere & Company 6,250,000.00 1/16/2029 1022 $ - $ - $ 6,250,000.00 - $ $ - $ - Prologis, Inc. 5,000,000.00 2/1/2029 1038 $ - $ - $ 5,000,000.00 - $ $ - $ - Caterpillar Inc. 7,000,000.00 2/27/2029 1064 $ - $ - $ 7,000,000.00 - $ $ - $ - BlackRock, Inc. 6,800,000.00 3/14/2029 1079 $ - $ - $ 6,800,000.00 - $ $ - $ - The Toronto-Dominion Bank 6,800,000.00 4/5/2029 1101 $ - $ - $ - $ 6,800,000.00 - $ $ - Met Tower Global Funding 7,000,000.00 4/12/2029 1108 $ - $ - $ - $ 7,000,000.00 - $ $ - UnitedHealth Group Incorporated 7,500,000.00 1/15/2030 1386 $ - $ - $ - $ 7,500,000.00 - $ $ - Amazon.com, Inc. 5,000,000.00 3/13/2031 1808 $ - $ - $ - $ - $ 5,000,000.00 - $ Corporate $ 9,801,000.00 $ 29,281,000.00 $ 28,900,000.00 $ 54,050,000.00 $ 21,300,000.00 $ 5,000,000.00 State of California 3,200,000.00 4/1/2026 1 $ 3,200,000.00 $ - $ - $ - $ - $ - Sequoia Union High School District 2,050,000.00 7/1/2026 92 2,050,000.00 $ $ - $ - $ - $ - $ - Huntington Beach Union High School D 3,510,000.00 8/1/2026 123 3,510,000.00 $ $ - $ - $ - $ - $ - City of Los Angeles 1,085,000.00 9/1/2026 154 1,085,000.00 $ $ - $ - $ - $ - $ - State of Connecticut 3,000,000.00 9/15/2026 168 3,000,000.00 $ $ - $ - $ - $ - $ - University of California 1,340,000.00 5/15/2027 410 $ - $ - $ 1,340,000.00 $ - $ - $ - City of Riverside, California 1,500,000.00 6/1/2027 427 $ - $ - $ 1,500,000.00 $ - $ - $ - Sequoia Union High School District 2,150,000.00 7/1/2027 457 $ - $ - $ 2,150,000.00 $ - $ - $ - Saddleback Valley Unified School Dis 1,805,000.00 8/1/2027 488 $ - $ - $ 1,805,000.00 $ - $ - $ - San Diego Community College District 1,300,000.00 8/1/2027 488 $ - $ - $ 1,300,000.00 $ - $ - $ - Mountain View Whisman School Distric 970,000.00 9/1/2027 519 $ - $ - $ 970,000.00 $ - $ - $ - State of California 6,000,000.00 8/1/2029 1219 $ - $ - $ - $ 6,000,000.00 - $ $ - Municipal Bonds $ 12,845,000.00 $ - $ 9,065,000.00 $ - $ 6,000,000.00 $ - Alliant Credit Union 249,000.00 12/30/2027 639 $ - $ - $ 249,000.00 $ - $ - $ - Negotiable CD $ - $ - $ 249,000.00 $ - $ - $ -
Inter-American Development Bank 3,000,000.00 6/2/2026 63 3,000,000.00 $ $ - $ - $ - $ - $ - International Finance Corporation 4,000,000.00 10/8/2026 191 $ 4,000,000.00 - $ $ - $ - $ - $ - Inter-American Development Bank 6,000,000.00 2/1/2027 307 $ 6,000,000.00 - $ $ - $ - $ - $ - International Bank for Recon and Dev 5,000,000.00 8/1/2028 854 $ - $ - $ 5,000,000.00 - $ $ - $ - International Bank for Recon and Dev 5,000,000.00 3/20/2030 1450 $ - $ - $ - $ 5,000,000.00 - $ $ - Supranational $ 3,000,000.00 $ 10,000,000.00 $ - $ 5,000,000.00 $ 5,000,000.00 $ - United States 4,000,000.00 4/2/2026 2 $ 4,000,000.00 $ - $ - $ - $ - $ - United States 4,200,000.00 4/7/2026 7 $ 4,200,000.00 $ - $ - $ - $ - $ - United States 2,400,000.00 4/15/2026 15 2,400,000.00 $ $ - $ - $ - $ - $ - United States 5,000,000.00 5/15/2026 45 5,000,000.00 $ $ - $ - $ - $ - $ - United States 4,000,000.00 5/19/2026 49 4,000,000.00 $ $ - $ - $ - $ - $ - United States 4,000,000.00 6/2/2026 63 4,000,000.00 $ $ - $ - $ - $ - $ - United States 5,000,000.00 6/15/2026 76 5,000,000.00 $ $ - $ - $ - $ - $ - United States 4,000,000.00 7/9/2026 100 4,000,000.00 $ $ - $ - $ - $ - $ - United States 4,000,000.00 8/6/2026 128 4,000,000.00 $ $ - $ - $ - $ - $ - United States 3,500,000.00 8/15/2026 137 3,500,000.00 $ $ - $ - $ - $ - $ - United States 4,000,000.00 9/15/2026 168 4,000,000.00 $ $ - $ - $ - $ - $ - United States 4,000,000.00 10/15/2026 198 $ 4,000,000.00 - $ $ - $ - $ - $ - United States 5,800,000.00 11/15/2026 229 $ 5,800,000.00 - $ $ - $ - $ - $ - United States 5,000,000.00 11/15/2026 229 $ 5,000,000.00 - $ $ - $ - $ - $ - United States 5,000,000.00 12/15/2026 259 $ 5,000,000.00 - $ $ - $ - $ - $ - United States 6,500,000.00 12/15/2026 259 $ 6,500,000.00 - $ $ - $ - $ - $ -

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista Reporting Date: 3/31/2026
Portfolio Maturity Distribution 0 - 182 Days 183 - 365 Days 366 - 730 Days 731 - 1095 Days 1096 - 1460 Days 1461 - 1825 Days Issuer Original Par Maturity Date Days to Maturity Under 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years United States 3,200,000.00 2/15/2027 321 $ 3,200,000.00 - $ $ - $ - $ - $ - United States 8,000,000.00 3/31/2027 365 $ 8,000,000.00 - $ $ - $ - $ - $ - United States 9,000,000.00 4/15/2027 380 $ - $ - $ 9,000,000.00 $ - $ - $ - United States 5,000,000.00 4/30/2027 395 $ - $ - $ 5,000,000.00 $ - $ - $ - United States 5,500,000.00 4/30/2027 395 $ - $ - $ 5,500,000.00 $ - $ - $ - United States 6,000,000.00 7/15/2027 471 $ - $ - $ 6,000,000.00 $ - $ - $ - United States 8,000,000.00 7/31/2027 487 $ - $ - $ 8,000,000.00 $ - $ - $ - United States 8,000,000.00 8/15/2027 502 $ - $ - $ 8,000,000.00 $ - $ - $ - United States 10,000,000.00 9/30/2027 548 $ - $ - $ 10,000,000.00 $ - $ - $ - United States 10,000,000.00 10/15/2027 563 $ - $ - $ 10,000,000.00 $ - $ - $ - United States 6,000,000.00 11/30/2027 609 $ - $ - $ 6,000,000.00 $ - $ - $ - United States 6,000,000.00 12/31/2027 640 $ - $ - $ 6,000,000.00 $ - $ - $ - United States 6,000,000.00 1/31/2028 671 $ - $ - $ 6,000,000.00 $ - $ - $ - United States 6,400,000.00 2/15/2028 686 $ - $ - $ 6,400,000.00 $ - $ - $ - United States 6,000,000.00 3/15/2028 715 $ - $ - $ 6,000,000.00 $ - $ - $ - United States 6,500,000.00 3/31/2028 731 $ - $ - $ 6,500,000.00 - $ $ - $ - United States 8,000,000.00 4/15/2028 746 $ - $ - $ 8,000,000.00 - $ $ - $ - United States 6,500,000.00 5/15/2028 776 $ - $ - $ 6,500,000.00 - $ $ - $ - United States 8,000,000.00 7/31/2028 853 $ - $ - $ 8,000,000.00 - $ $ - $ - United States 6,000,000.00 8/15/2028 868 $ - $ - $ 6,000,000.00 - $ $ - $ - United States 6,000,000.00 9/30/2028 914 $ - $ - $ 6,000,000.00 - $ $ - $ - United States 6,500,000.00 10/31/2028 945 $ - $ - $ 6,500,000.00 - $ $ - $ - United States 8,000,000.00 11/15/2028 960 $ - $ - $ 8,000,000.00 - $ $ - $ - United States 3,000,000.00 12/15/2028 990 $ - $ - $ 3,000,000.00 - $ $ - $ - United States 5,000,000.00 12/31/2028 1006 $ - $ - $ 5,000,000.00 - $ $ - $ - United States 5,000,000.00 1/15/2029 1021 $ - $ - $ 5,000,000.00 - $ $ - $ - United States 7,000,000.00 3/31/2029 1096 $ - $ - $ - $ 7,000,000.00 - $ $ - United States 8,000,000.00 5/15/2029 1141 $ - $ - $ - $ 8,000,000.00 - $ $ - United States 7,000,000.00 5/31/2029 1157 $ - $ - $ - $ 7,000,000.00 - $ $ - United States 7,500,000.00 6/30/2029 1187 $ - $ - $ - $ 7,500,000.00 - $ $ - United States 9,000,000.00 7/31/2029 1218 $ - $ - $ - $ 9,000,000.00 - $ $ - United States 7,500,000.00 9/30/2029 1279 $ - $ - $ - $ 7,500,000.00 - $ $ - United States 9,500,000.00 10/31/2029 1310 $ - $ - $ - $ 9,500,000.00 - $ $ - United States 7,000,000.00 11/30/2029 1340 $ - $ - $ - $ 7,000,000.00 - $ $ - United States 8,000,000.00 12/31/2029 1371 $ - $ - $ - $ 8,000,000.00 - $ $ - United States 7,000,000.00 5/31/2030 1522 $ - $ - $ - $ - $ 7,000,000.00 - $ United States 12,000,000.00 11/30/2030 1705 $ - $ - $ - $ - $ 12,000,000.00 - $ United States 7,500,000.00 12/31/2030 1736 $ - $ - $ - $ - $ 7,500,000.00 - $ United States 6,000,000.00 1/31/2031 1767 $ - $ - $ - $ - $ 6,000,000.00 - $ US Treasury $ 44,100,000.00 $ 37,500,000.00 $ 91,900,000.00 $ 68,500,000.00 $ 70,500,000.00 $ 32,500,000.00 Neighborhood National Bank 4,275,983.10 8/13/2026 135 4,275,983.10 $ $ - $ - $ - $ - $ - Placement Service Deposits
Total Maturity $ 97,662,000.00 $ 98,281,000.00 $ 142,614,000.00 $ 145,200,000.00 $ 107,800,000.00 $ 37,500,000.00 $ 629,057,000.00

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista Reporting Date: 3/31/2026
Portfolio Maturity Distribution 0 - 182 Days 183 - 365 Days 366 - 730 Days 731 - 1095 Days 1096 - 1460 Days 1461 - 1825 Days Issuer Original Par Maturity Date Days to Maturity Under 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years

1.91 Weighted Average Maturity (in years)

4.15% Weighted Yield to Maturity

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda City of Chula Vista
Corporate Bonds - Sector Distribution
Issuer Maturity Date CUSIP Purchase YTM Original Par GICS Sector Target Corporation 4/15/2026 87612EBE5 4.26 1,850,000.00 Consumer Discretionary Target Corporation 4/15/2026 87612EBE5 4.26 1,901,000.00 Consumer Discretionary PACCAR Inc 5/11/2026 69371RR32 4.39 3,000,000.00 Financials Walmart Inc. 7/8/2026 931142EM1 4.09 1,900,000.00 Consumer Discretionary Cisco Systems, Inc. 9/20/2026 17275RBL5 4.04 1,150,000.00 Information Technology NIKE, Inc. 11/1/2026 654106AF0 3.13 1,035,000.00 Consumer Discretionary Honeywell International Inc. 11/1/2026 438516BL9 3.02 1,185,000.00 Industrials Illinois Tool Works Inc. 11/15/2026 452308AX7 4.82 1,421,000.00 Industrials Abbott Laboratories 11/30/2026 002824BF6 4.69 1,000,000.00 Health Care Duke Energy Corporation 12/1/2026 26442CAS3 4.29 7,500,000.00 Energy Royal Bank of Canada 1/19/2027 78016HZT0 4.75 6,500,000.00 Financials Morgan Stanley 1/20/2027 61746BEF9 5.62 2,500,000.00 Financials Bank of America Corporation 3/2/2027 06048WS84 2.75 4,000,000.00 Financials The Charles Schwab Corporation 3/3/2027 808513BY0 3.34 2,205,000.00 Financials PepsiCo, Inc. 3/19/2027 713448ER5 3.14 1,935,000.00 Consumer Staples Costco Wholesale Corporation 5/18/2027 22160KAM7 4.29 3,200,000.00 Consumer Discretionary Merck & Co., Inc. 6/10/2027 58933YBC8 3.16 3,200,000.00 Health Care The Home Depot, Inc. 6/25/2027 437076DB5 4.76 7,500,000.00 Consumer Discretionary National Rural Utilities Cooperative 9/16/2027 63743HFT4 4.04 7,500,000.00 Utilities State Street Corporation 10/22/2027 857477CP6 4.53 7,500,000.00 Financials JPMorgan Chase & Co. 4/22/2028 46647PEE2 5.19 6,000,000.00 Financials U.S. Bancorp 5/15/2028 90331HPS6 4.85 6,500,000.00 Financials BNY Mellon Corp 6/9/2028 06406RCH8 4.41 5,000,000.00 Financials Eli Lilly and Company 10/15/2028 532457DB1 3.82 5,000,000.00 Health Care Morgan Stanley 1/12/2029 61690DK72 4.89 6,500,000.00 Financials Deere & Company 1/16/2029 24422EXH7 4.56 6,250,000.00 Industrials Prologis, Inc. 2/1/2029 74340XBL4 4.06 5,000,000.00 Real Estate Caterpillar Inc. 2/27/2029 14913UAJ9 4.77 7,000,000.00 Financials BlackRock, Inc. 3/14/2029 09290DAA9 4.56 6,800,000.00 Financials The Toronto-Dominion Bank 4/5/2029 89115A2Y7 4.98 6,800,000.00 Financials Met Tower Global Funding 4/12/2029 58989V2H6 5.49 7,000,000.00 Financials UnitedHealth Group Incorporated 1/15/2030 91324PFG2 4.74 7,500,000.00 Health Care Amazon.com, Inc. 3/13/2031 023135DD5 4.35 5,000,000.00 Consumer Discretionary 148,332,000.00

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda GICS Sector Amount Percent
Communication Services - 0.00%
Consumer Discretionary 22,386,000.00 15.09%
Consumer Staples 1,935,000.00 1.30%
Energy 7,500,000.00 5.06%
Financials 77,305,000.00 52.12%
Health Care 16,700,000.00 11.26%
Industrials 8,856,000.00 5.97%
Information Technology 1,150,000.00 0.78%
Materials - 0.00%
Real Estate 5,000,000.00 3.37%
Utilities 7,500,000.00 5.06%
Total 148,332,000.00 100.00%
Consumer Discretionary
15%
Consumer Staples
1%
Energy
5%
Financials
52%
Health Care
11%
Industrials
6%
Information Technology
1%
Real Estate
4%
Utilities
5%

CORPORATE BONDS - SECTOR DISTRIBUTION

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Glossary
AGENCIES: Federal agency securities.

ASSET BACKED SECURITIES: Securities supported by pools of installment loans or leases or by pools of revolving lines of credit. ASKED: The price at which securities are offered. (The price at which a firm will sell a security to an investor.)
BANKERS’ ACCEPTANCE (BA): A draft or bill or exchange accepted by a bank or trust company.

The accepting institution guarantees payment of the bill, as well as the issuer. The drafts are drawn on a bank by an exporter or importer to obtain funds to pay for specific merchandise. An acceptance is a high-grade negotiable instrument.

BASIS POINT: One one-hundredth of a percent (i.e., 0.01 %).

BID: The price offered by a buyer of securities. (When you are selling securities, you ask for a bid.) BROKER: A broker brings buyers and sellers together for a commission. He does not take a position.

CALLABLE: A callable security gives the issuer the option to call it from the investor prior to its maturity. The main cause of a call is a decline in interest rates. If interest rates decline, the issuer will likely call its current securities and reissue them at a lower rate of interest.

CERTIFICATE OF DEPOSIT (CD): A time deposit with a specific maturity evidenced by a certificate. Large-denomination CD’s are typically negotiable.

COLLATERAL: Securities, evidence of deposit or other property, which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies.

COLLATERALIZED MORTGAGE OBLIGATIONS (CMO): Classes of bonds that redistribute the cash flows of mortgage securities (and whole loans) to create securities that have different levels of prepayment risk, as compared to the underlying mortgage securities.

COMMERCIAL PAPER: Short term unsecured promissory note issued by a corporation to raise working capital. These negotiable instruments are purchased at a discount to par value or at par value with interest bearing. Commercial paper is issued by corporations such as General Motors Acceptance Corporation, IBM, Bank of America, etc.

DEALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account.

DELIVERY VERSUS PAYMENT: There are two methods of delivery of securities: delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda DIVERSIFICATION: Dividing investment funds among a variety of securities offering independent returns.

FEDERAL AGENCIES: Agencies of the Federal government set up to supply credit to various classes of institutions (e.g., S&L’s, small business firms, students, farmers, farm cooperatives, and exporters).

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A Federal agency that insures bank deposits, currently up to $250,000 per deposit.

FEDERAL RESERVE SYSTEM: The central bank of the United States created by Congress and consisting of a seven-member Board of Governors in Washington, D.C.; 12 regional banks and about 5,700 commercial banks are members of the system.

FIDUCIARY: A person or organization that acts on behalf of another person(s) or organization that puts their clients’ interest ahead of their own as they are bound both legally and ethically to act in the other’s best interests.

LIQUIDITY: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes.

LOCAL AGENCY INVESTMENT FUND (LAIF): The aggregate of all funds from political subdivisions that are placed in the custody of the State Treasurer for investment and reinvestment.

LOCAL GOVERNMENT INVESTMENT POOL (LGIP): An investment pool offered by a state or local agency to public entities for the investment of public funds.

MARKET VALUE: The price at which a security is trading and could presumable be purchased or sold.

MATURITY: The date upon which the principal or stated value of an investment becomes due and payable. The investment’s term or remaining maturity is measured from the settlement date to final maturity.

MORTGAGE PASS-THROUGH SECURITIES: A securitized participation in the interest and principal cash flows from a specified pool of mortgages. Principal and interest payments made on the mortgages are passed through to the holder of the security.

NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATIONS (NRSROs):

Credit rating agencies that issue credit ratings that the Securities and Exchange Commission (SEC) permits other financial firms to use for certain regulatory purposes.

NEGOTIABLE CERTIFICATES OF DEPOSIT: Unsecured obligations of the financial institution, bank or savings and loan, bought at par value with the promise to pay face value plus accrued interest at maturity. They are high-grade negotiable instruments, paying a higher interest rate than regular certificates of deposit.

OFFER: The price asked by a seller of securities. (When you are buying securities, you ask for an offer).

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda PORTFOLIO: Collection of securities held by an investor.

PRIMARY DEALER: A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include Securities and Exchange Commission (SEC)-registered securities broker/dealers, banks and a few unregulated firms.

PRUDENT INVESTOR STANDARD: An investment standard. In some states, the law requires that a fiduciary, such as a trustee, may invest money only in a list of securities selected by the custody statethe so-called “legal list”. In other states, the trustee may invest in a security if it is one that would be bought by a prudent person of discretion and intelligence who is seeking a reasonable income and preservation of capital.

RATE OF RETURN: The yield obtainable on a security based on its purchase price or its current market price.

SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank’s vaults for protection.

SECONDARY MARKET: A market made for the purchase and sale of outstanding issues following the initial distribution.

SECURITIES & EXCHANGE COMMISSION (SEC): Agency created by Congress to protect investors in securities transactions by administering securities legislation.

SEC RULE 15C3-1: See “Uniform Net Capital Rule”.

TREASURY BILLS: A non-interest bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months, six months, or one year.

TREASURY BOND: Long-term U.S. Treasury securities having initial maturities of more than 10 years.

TREASURY NOTES: Intermediate-term coupon bearing U.S. Treasury having initial maturities of one year to ten years.

UNIFORM NET CAPITAL RULE: Securities and Exchange Commission requirement that member firms as well as nonmember broker/dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio. Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash.

YIELD: The rate of annual income return on an investment, expressed as a percentage. (a) Income Yield is obtained by dividing the current dollar income by the current market price for the security. (b) Net Yield or Yield to Maturity is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda v . 0 0 5 P a g e | 1
May 19, 2026

ITEM TITLE
Open Space Districts: Initiate Proceedings, Approve the Engineer’s Report, Declare the Intention to Levy and Collect Assessments for the Open Space Districts for Fiscal Year 2026-27, and Set a Public Hearing Report Number: 26-0058
Location: The Open Space Districts are located throughout the City, for specific District locations please see Attachment 3
Department: Finance
G.C. § 84308 Regulations Apply: No
Environmental Notice: The activity is not a "Project" as defined under Section 15378 of the California Environmental Quality Act (“CEQA”) State Guidelines. Therefore, pursuant to State Guidelines Section 15060(c)(3) no environmental review is required.

Recommended Action
Adopt the following resolutions:

A) Initiating proceedings for the levy and collection of assessments for Fiscal Year 2026-27 for Open Space Districts 1 through 11, 14, 15, 17, 18, 20, 23, 24, 26, 31, 33, Eastlake Maintenance District No 1, Town Centre Maintenance District, and Bay Boulevard Maintenance District pursuant to the Landscaping and Lighting Act of 1972;
B) Approving the Engineer’s Report, declaring the intention to levy and collect assessments; and setting a public hearing for July 14, 2026, regarding the Fiscal Year 2026-27 assessments for Open Space Districts 2 through 11, 14, 15, 17, 18, 20 (Zones 1 through 4, 6, 8, and 9), 23, 24, 26, 31, 33, Eastlake Maintenance District No 1, Town Centre Maintenance District, and Bay Boulevard Maintenance District; C) Approving the Engineer’s Report, declaring the intention to levy and collect assessments; and setting a public hearing for July 14, 2026, regarding the fiscal year 2026-27 assessments for Open Space District 1; D) Approving the Engineer’s Report, declaring the intention to levy and collect assessments; and setting a public hearing for July 14, 2026, regarding the fiscal year 2026-27 assessments for Open Space District 20 Zone 5; and

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda P a g e | 2
E) Approving the Engineer’s Report, declaring the intention to levy and collect assessments; and setting a public hearing for July 14, 2026, regarding the fiscal year 2026-27 assessments for Open Space District 20 Zone 7.

SUMMARY
The City administers and maintains 36 Open Space Districts and associated zones that have been established over the last 50 years. The Open Space Districts provide a financing mechanism to maintain the public open space areas associated with each specific development. The City Council’s approval of the levy is required by the first week of August to meet the annual deadline established by the San Diego County Auditor-Controller.

This item represents the initial step in an annual two-step process. Specifically, it declares the intention to levy and collect assessments, approves the Fiscal Year 2026-27 Engineer’s Report, and sets the date of the public hearing. These efforts provide for the levy of assessments to provide maintenance services, as detailed below, and ensure that the County Auditor-Controller deadlines are met for all of the City’s Open Space Districts and their associated zones.

ENVIRONMENTAL REVIEW
The proposed activity has been reviewed for compliance with the California Environmental Quality Act (CEQA), and it has been determined that the activity is not a “Project” as defined under Section 15378 of the State CEQA Guidelines because the proposed activity consists of a governmental fiscal/administrative activity which does not result in a physical change in the environment. Therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines, the activity is not subject to CEQA.

BOARD/COMMISSION/COMMITTEE RECOMMENDATION
Not applicable.

DISCUSSION
Open Space Districts (OSDs) were established in conjunction with each development to ensure a financing mechanism was available for the funding of perpetual maintenance of common open space areas. The City levies annual assessments within each OSD to cover the costs of maintenance associated with each OSD area of maintenance. Once City Council approves the annual assessments, they are sent to the County for inclusion on the secured property tax bills of each affected parcel.

Each year the City Council must take two actions before levying the annual assessments. This item is the first step and includes Council approval of the Engineer’s Report on Open Space Districts, declaration of the City's intention to levy the annual assessments and setting of the date and time for a public hearing. The second action, scheduled for July 14, 2026, includes a public hearing, consideration of public testimony, authorization to levy annual assessments and confirmation of the amount to be collected.

Pursuant to state law and Municipal Code, the City Engineer has prepared and filed the annual report for all existing Open Space Districts. The report is attached as Attachment 3 to this agenda statement. Attachment 1 lists the names and locations of the Districts. The annual report allows Council to review the history of the Open Space Districts. The report includes information regarding:
 The proposed budgets
 Funds balances

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda P a g e | 3
 The proposed assessment (based upon prior year assessment plus an inflation factor)  The Collectible (the amount needed from each property owner to provide sufficient funds for the following fiscal year’s maintenance)
Improvements and Services
The facilities and items to be maintained by the Open Space Districts currently consist of the following:
 Irrigation  Fertilization
 Aerification  Pest Control
 Insect infestation control  Removal of weeds, trash and litter  Removal of noxious plant material  Trail maintenance  Public walkway cleaning  Low flow and brow channel maintenance  Weed abatement  Slopes and Canyons
 Pedestrian light maintenance  Signage within trails/canyons  Pruning of trees and shrubs  Repair of irrigation equipment  Irrigation equipment upgrades  Brush clearance
 Encroachment trims  Fencing maintenance
 Replacement of dead or diseased plant material  Retaining walls Assessments & Collectibles
The City of Chula Vista Municipal Code makes the distinction between the assessment and the amount that the City may collect against the assessment (the “Collectible”). Each year, the prior year’s maximum assessment amount is adjusted by an inflation factor, pursuant to the Municipal Code. This inflation factor is based upon the lower of two inflation factors: 1) the San Diego Metropolitan Consumer Price Index (CPI), and 2) the Governor’s California 4th Quarter per Capita Personal Income Index. In the mid-1990’s (and for all Open Space Districts established after that date), Council approved the assessments with an inflation factor. Since that date, Council may annually adjust the assessment by this inflation factor without this adjustment being construed as an increase, and thus being subject to an OSD balloting, per Proposition 218.

The assessments for fiscal year 2026-27 are proposed at the fiscal year 2025-26 amounts adjusted by the inflation factor of 2.62% pursuant to the Municipal Code. This index is the lower of the two inflation factors mentioned above and represents the percentage change in the San Diego Metropolitan Consumer Price Index (CPI).

The Collectible is the amount to be actually collected from the property owner and is equal to, or lower than, the proposed assessment. The Collectible is based on the budget, the reserve requirement for operating and asset replacement activities, prior year’s savings and fund balance, and interest income.

Illustrated in Attachment 2 are the proposed Assessments and Collectibles for fiscal year 2026-27. The proposed fiscal year 2026-27 Collectibles per Equivalent Dwelling Unit (EDU) are preliminary and will be updated with actual amounts at the public hearing on July 14, 2026. The current amounts in the table are based upon estimated fund balances and EDUs at this time. The Collectibles per EDU are set at the Assessment per EDU to allow for the collection of up to the maximum amount allowable.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda P a g e | 4
A downtown Property and Business Improvement District (PBID) replaced Town Centre Landscape Maintenance District (LMD) in 2001. At that time, it was anticipated that the Town Centre LMD would be dissolved. However, the City determined that there was some potential long-term exposure for the City based on the remote possibility that the current PBID might not receive sufficient support for re-approval in the future. If the PBID was not re-approved at some future date, and if the Town Centre LMD was dissolved, there would no longer be a funding mechanism for downtown landscape maintenance.

Based on this possibility, the Town Centre LMD remains open as a “contingent” district. This means that the City will set the maximum assessment amount for the District on an annual basis, even though property owners will not be billed any sum on the tax roll. Should the PBID not be re-approved, the Town Centre LMD will be in place to provide the necessary funding mechanism for downtown landscape maintenance.

The current PBID was renewed with the adoption of Council Resolution No. 2016-122, for a period of ten (10) years. Given this, the Town Centre LMD will remain a “contingent” district.

Standard Notice Process for Annual Levy
Upon approval by City Council, the public hearing will be noticed pursuant to Government Code 6061, which requires that a notice be published in a newspaper of general circulation at least 10 days before the public hearing. Tonight’s resolution approves this report and sets the date and time for a public hearing to consider the levy of assessments and the collection of the funds.

DECISION-MAKER CONFLICT
Staff has reviewed the property holdings of the City Council and has found that conflicts exists; in that members have real property holdings within 500 feet of the boundaries of the Open Space Districts listed below by City Council. Consequently, pursuant to California Code of Regulations Title 2, sections 18700 and 18702.2(a)(7), this item presents a disqualifying real property-related financial conflict of interest under the Political Reform Act (Cal. Gov't Code § 87100, et seq.) for the members identified below:

Mayor McCann and Councilmember Chavez: For Open Space District 1, which is the subject of Resolution C of this action.

Councilmember Chavez: For Open Space District 20 Zone 5, which is the subject of Resolution D of this action.

Mayor McCann: For Open Space District 20 Zone 7, which is the subject of Resolution E of this action.

Staff has reviewed the property holdings of the City Council and has found that, Council Member Preciado has real property holdings within 1,000 feet, but beyond 500 feet, of the boundaries of Open Space District 11 and Council Member Inzunza has real property holdings within 1,000 feet, but beyond 500 feet, of the boundaries of Open Space 31, which are the subject of this action. However, to the extent that any decision would have a reasonably foreseeable financial effect on the member’s real property, the effect would be nominal, inconsequential, or insignificant. Consequently, pursuant to California Code of Regulations Title 2, sections 18700 and 18702(b), these items do not present a real property-related conflict of interest under the Political Reform Act (Cal. Gov't Code § 87100, et seq.).

Staff is not independently aware, and has not been informed by any City Council member, of any other fact that may constitute a basis for a decision-maker conflict of interest in this matter.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda P a g e | 5

CURRENT-YEAR FISCAL IMPACT
There is no direct fiscal impact to the General Fund or any other funds by this action, as the proposed levies are effective in fiscal year 2026-27.

ONGOING FISCAL IMPACT
For fiscal year 2026-27, the full cost of providing landscape maintenance services in the Open Space Districts totals $4,388,703. In addition to the landscape maintenance services costs, $328,902 in planned projects will be included.

Landscape maintenance costs and planned project expenditures are generally recovered through the OSD Collectibles and reserves of each Open Space District in the fiscal year 2026-27 budget. However, due to rising costs of landscape maintenance services, several districts may need sustained General Fund financial support, reduced services in these areas, or a combination of both. Public Works and Finance staff will continue to monitor expenditures throughout fiscal year 2026-27 and may recommend mid-year actions to provide General Fund financial support, if necessary.

ATTACHMENTS

1. Open Space Districts within the City of Chula Vista

2. Fiscal Year 2026-27 Proposed Assessments and Collectibles

3. Fiscal Year 2026-27 Chula Vista OSD Preliminary Engineer’s Report Staff Contact: Patricia Macias, Fiscal Debt Management Analyst Adrian Del Rio, Director of Finance/Treasurer

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda RESOLUTION NO. 2026-______

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

CHULA VISTA INITIATING PROCEEDINGS FOR THE LEVY

AND COLLECTION OF ASSESSMENTS FOR FISCAL YEAR
2026-27 FOR OPEN SPACE DISTRICTS 1 THROUGH 11, 14, 15,
17, 18, 20, 23, 24, 26, 31, 33, EASTLAKE MAINTENANCE
DISTRICT NO. 1, TOWN CENTRE MAINTENANCE

DISTRICT, AND BAY BOULEVARD MAINTENANCE

DISTRICT PURSUANT TO THE LANDSCAPING AND
LIGHTING ACT OF 1972
WHEREAS, the City Council has by previous resolutions formed and levied annual assessments within the Chula Vista Open Space Districts 1 through 11, 14, 15, 17, 18, 20, 23, 24, 26, 31, 33, Eastlake Maintenance District No. 1, Town Centre Maintenance District, and Bay Boulevard Maintenance District (hereafter referred to as the “Districts”), pursuant to the provisions of the Landscape and Lighting Act of 1972, Part 2, Division 15 of the California Streets and Highways Code (commencing with Section 22500) (hereafter referred to as the “Act”) and the Chula Vista Municipal Code Chapter 17.07 to pay for the maintenance and servicing of all improvements and facilities related thereto; and
WHEREAS, a list of all Districts and District Zones is attached hereto as Attachment A; and
WHEREAS, Section 22622 of the Streets and Highways Code requires the City Council to adopt a resolution that: (a) generally describes any proposed new improvements or any substantial changes in existing improvements within the Open Space Districts; and (b) orders the preparation and filing of an Engineer’s Report (hereinafter the “Report”) prepared in accordance with Article 4 (commencing with Section 22565) of the Streets and Highways Code for the assessments which are proposed to be levied on assessable lots and parcels of land within the Open Space Districts for the 2026-27 Fiscal Year; and,
WHEREAS, the City Council has retained Spicer Consulting Group, LLC, for the purpose of assisting with the Annual Levy of the District, and to prepare and file a report with the City Clerk in accordance with the Act.

NOW, THEREFORE BE IT RESOLVED, FOUND, DETERMINED, AND ORDERED BY THE CITY COUNCIL FOR THE CITY OF CHULA VISTA AS FOLLOWS:

Section 1. Recitals
The Recitals set forth above are true and correct.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Resolution No. 2026-
Page No. 2
Section 2. Annual Levy Report
The City Council hereby orders Spicer Consulting Group, LLC, on behalf of and under the direction of the City Engineer, to prepare and file with the City Clerk the Engineer’s Annual Levy Report concerning the levy and collection of assessments for the District for the Fiscal Year commencing July 1, 2026, and ending June 30, 2027, in accordance with Article 4 (commencing with Section 22565) of Chapter 1 of the Act.

Section 3. District Improvements
The facilities and items to be maintained by the Open Space Districts currently consist and will continue to consist, in general, of the following: irrigation, aerification, insect infestation control, removal of noxious plant material, public walkway cleaning, weed abatement, pedestrian light maintenance, pruning of trees and shrubs, irrigation equipment upgrades, encroachment trims, replacement of dead or diseased plant material, fertilization, pest control, removal of weeds, trash and litter, trail maintenance, low flow and brow channel maintenance, slopes and canyons, signage within trails/canyons, repair of irrigation equipment, brush clearance, fencing maintenance, and retaining walls, pursuant to Sections 22565 through 22574 of the Streets and Highways Code. Services provided include all necessary service, operations, administration and maintenance required to keep the above-mentioned improvements in a healthy, vigorous and satisfactory working condition.

There are no proposed new improvements or substantial changes to existing improvements within the Open Space Districts.

Section 4. Severability
That the City Council declares that, should any provision, section, paragraph, sentence or word of this Resolution be rendered or declared invalid by any final court action in a court of competent jurisdiction or by reason of any preemptive legislation, the remaining provisions, sections, paragraphs, sentences or words of the Resolution as hereby adopted shall remain in full force and effect.

Section 5. Effective Date
That this Resolution shall take effect upon its adoption.

Section 6. Certification
That the City Clerk shall certify as to the adoption of this Resolution and shall cause the same to be processed in the manner required by law.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Resolution No. 2026-
Page No. 3
Presented by Approved as to form
________________________________
Adrian Del Rio Marco A. Verdugo
Director of Finance/Treasurer City Attorney

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Resolution No. 2026-
Page No. 4

ATTACHMENT A
Open Space District Name
1 El Rancho del Rey Units 1-4
2 Larkhaven
3 Rancho Robinhood Units 1 & 2
4 Bonita Ridge
5 South Bay Villas
6 Hilltop Vista
7 Zenith Units 2, 3, & 4
8 Rancho Robinhood Unit 3
9 El Rancho del Rey
10 El Rancho del Rey 6, Casa Del Rey
11 Hidden Vista Village
14 Bonita Long Canyon
15 Bonita Haciendas
17 Bel Air Ridge
18 Rancho del Sur
20 Zone 1 Desilting Basin
20 Zone 2 Rice Canyon
20 Zone 3 H Street
20 Zone 4 Business Center
20 Zone 5 SPA I
20 Zone 6 SPA II
20 Zone 7 SPA III
20 Zone 8 N Desilting Basin
20 Zone 9 Telegraph Canyon Channel
23 Otay Rio Business Park
24 Canyon View Homes
26 Park Bonita
31 Telegraph Canyon Estates
33 Broadway Business Home Village
- Eastlake Maintenance District No. 1 Zone A
- Eastlake Maintenance District No. 1 Zone B
- Eastlake Maintenance District No. 1 Zone C
- Eastlake Maintenance District No. 1 Zone D
- Eastlake Maintenance District No. 1 Zone E
- Bay Blvd Maintenance District
- Town Centre Maintenance District

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda RESOLUTION NO. 2026 -

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING THE ENGINEER’S REPORT,

DECLARING THE INTENTION TO LEVY AND COLLECT
ASSESSMENTS; AND SETTING A PUBLIC HEARING
REGARDING THE FISCAL YEAR 2026-27 ASSESSMENTS
FOR OPEN SPACE DISTRICTS 2 THROUGH 11, 14, 15, 17, 18,
20 (ZONES 1 THROUGH 4, 6, 8, AND 9), 23, 24, 26, 31, 33, EASTLAKE MAINTENANCE DISTRICT NO 1, TOWN

CENTRE MAINTENANCE DISTRICT, AND BAY

BOULEVARD MAINTENANCE DISTRICT
WHEREAS, pursuant to Article 4, Chapter 1, part 2 of Division 15 of the California Streets and Highways Code, also known as “Landscaping and Lighting Act of 1972” and Chula Vista Municipal Code Chapter 17.07, Spicer Consulting Group, LLC, has prepared and filed, on behalf of and under the direction of the City Engineer, the annual report (Engineer’s Report) for all existing Open Space Maintenance Districts in the City of Chula Vista (City); and WHEREAS, the Engineer’s Report is presented to the Council for approval in order to proceed with the public hearing set for July 14, 2026, in accordance with the Landscaping and Lighting Act of 1972. The Engineer’s Report covers Open Space Districts 2 through 11, 14, 15, 17, 18, 20 (Zones 1 through 4, 6, 8, and 9), 23, 24, 26, 31, 33, Eastlake Maintenance District No 1, Town Centre Maintenance District, and Bay Boulevard Maintenance District; and

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Resolution No. 2026-
Page No. 2
WHEREAS, the proposed assessments for Fiscal Year 2026-27 are as follows:

Open Space District or
Zone
Assessment per EDU Collectible per EDU
Projected
Revenue (5) FY 25-26
Proposed
FY 26-27 FY 25-26
Proposed
FY 26-27
Variance
($)
Variance
(%)
2 $75.72 $77.70 $75.72 $77.70 $1.98 2.62% $19,269.51
3 $518.43 $532.02 $518.43 $532.02 $13.58 2.62% $67,566.01 4 $547.57 $561.92 $547.57 $561.92 $14.35 2.62% $116,879.17 5 $533.97 $547.96 $533.97 $547.96 $13.99 2.62% $66,850.70 6 $264.07 $270.99 $264.07 $270.99 $6.92 2.62% $43,900.67 7 $184.45 $189.28 $184.45 $189.28 $4.83 2.62% $18,928.45 8 $842.71 $864.79 $842.71 $864.79 $22.08 2.62% $95,127.15 9 $238.83 $245.08 $238.83 $245.08 $6.26 2.62% $94,357.09 10 $161.16 $165.38 $161.16 $165.38 $4.22 2.62% $108,614.89 11 $163.10 $167.37 $163.10 $167.37 $4.27 2.62% $221,103.61 14 $524.27 $538.00 $524.27 $538.00 $13.74 2.62% $463,757.41 15 $502.99 $516.17 $502.99 $516.17 $13.18 2.62% $29,421.41 17 $240.77 $247.07 $240.77 $247.07 $6.31 2.62% $11,365.42 18 $474.08 $497.78 $568.93 $583.83 $14.91 2.62% $217,031.54 20 Zone 1 - Desilting basin $87.91 $90.21 $87.91 $90.21 $2.30 2.62% $79,561.66 Zone 2 - Rice Canyon $6.66 $6.83 $6.66 $6.83 $0.17 2.62% $27,046.03 Zone 3 - H Street $9.50 $9.75 $9.50 $9.75 $0.25 2.62% $59,905.43 Zone 4 - Business Center $73.10 $75.02 $73.10 $75.02 $1.92 2.62% $195,023.43 Zone 6 - SPA II $410.50 $421.25 $410.50 $421.25 $10.76 2.62% $241,462.26 Zone 8 - N Desilting Basin $58.40 $59.93 $58.40 $59.93 $1.53 2.62% $7,121.47 Zone 9 - Tel Cyn Channel $46.38 $47.59 $46.38 $47.59 $1.22 2.62% $2,380.02 23 $650.49 $667.53 $650.49 $667.53 $17.04 2.62% $76,752.72 24 $974.77 $1,000.31 $974.77 $1,000.31 $25.54 2.62% $40,012.30 26 $765.04 $785.09 $765.04 $785.09 $20.04 2.62% $14,916.69 31 $580.00 $580.00 $790.29 $811.00 $20.71 2.62% $199,520.00 33 (1) $0.00 $0.00 $1,931.45 $1,982.05 $50.60 2.62% $0.00 ELMD 1
Otay Lakes Rd (2)
Zone A - Eastlake I $18.06 $18.54 $18.06 $18.54 $0.47 2.62% $161,238.58 Zone B - Eastlake Greens $29.59 $30.37 $29.59 $30.37 $0.78 2.62% $102,489.61 Zone C - Oly Training Ctr $6.00 $6.00 $245.03 $251.45 $6.42 2.62% $56,281.17 Zone D - Salt Creek I $326.81 $335.37 $326.81 $335.37 $8.56 2.62% $142,130.29 Zone E - Tel Cyn Chnl $20.00 $20.00 $46.59 $47.81 $1.22 2.62% $13,360.60 Bay Boulevard (3) $1,995.30 $1,995.30 $4,216.21 $4,326.67 $110.46 2.62% $12,749.97 Town Centre (4) $0.00 $0.00 $0.15021 $0.15414 $0.00394 2.62% $0.00 Total Projected Revenues $3,006,125.24
(1) OSD 33 was formed several years ago in anticipation of development. The project has not progressed and consequently there is no maintenance. (2) Zones A - D Share in the cost of Otay Lakes Road medians and off-site parkways. Collectible and projected revenue for Otay Lakes Road are reflected in collectible and projected revenue for Zones A - D.
(3) Bay Boulevard rates are based on acres.
(4) Town Centre rates have been based on parcel square footage since FY 2001-02. However, a Downtown PBID replaced this District in 2001, but the City determined that there was some potential long-term exposure for the City based on the remote potential that the current PBID might not receive sufficient support for renewal processes.
(5) The Projected Revenue are preliminary figures based upon the prior year's EDU assignments and the Proposed Rates for Fiscal Year 2026-27.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Resolution No. 2026-
Page No. 3
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista, that it approves this Engineer’s Report for City Open Space Districts 2 through 11, 14, 15, 17, 18, 20 (Zones 1 through 4, 6, 8, and 9), 23, 24, 26, 31, 33, Eastlake Maintenance District No. 1, Town Centre Maintenance District, and Bay Boulevard Maintenance District, in the form presented, with such minor modifications as may be required or approved by the City Attorney, a copy of which shall be kept on file in the Office of the City Clerk.

BE IT FURTHER RESOLVED that the City Council of the City of Chula Vista declares its intention to levy and collect the assessments for City Open Space Districts 2 through 11, 14, 15, 17, 18, 20 (Zones 1 through 4, 6, 8, and 9), 23, 24, 26, 31, 33, Eastlake Maintenance District No. 1, Town Centre Maintenance District, and Bay Boulevard Maintenance District, as identified in the Engineer’s Report, for the Fiscal Year 2026-27.

BE IT FURTHER RESOLVED that the City Council sets July 14, 2026, at 5:00 p.m. in the City Council Chambers, City of Chula Vista, 276 Fourth Avenue, Chula Vista, California as the date and time for the public hearing on the assessments.

Presented by Approved as to form
Adrian Del Rio Marco A. Verdugo
Director of Finance/Treasurer City Attorney

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda RESOLUTION NO. 2026 -

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING THE ENGINEER’S REPORT,

DECLARING THE INTENTION TO LEVY AND COLLECT
ASSESSMENTS; AND SETTING A PUBLIC HEARING
REGARDING THE FISCAL YEAR 2026-27 ASSESSMENTS
FOR OPEN SPACE DISTRICT 1
WHEREAS, pursuant to Article 4, Chapter 1, part 2 of Division 15 of the California Streets and Highways Code, also known as “Landscaping and Lighting Act of 1972” and Chula Vista Municipal Code Chapter 17.07, Spicer Consulting Group, LLC, has prepared and filed, on behalf of and under the direction of the City Engineer, the annual report (Engineer’s Report) for all existing Open Space Maintenance Districts in the City of Chula Vista (City); and WHEREAS, the Engineer’s Report is presented to the Council for approval in order to proceed with the public hearing set for July 14, 2026, in accordance with the Landscaping and Lighting Act of 1972. The Report covers Open Space District 1; and WHEREAS, the proposed assessments for Fiscal Year 2026-27 are as follows:

Open Space District or
Zone
Assessment per EDU Collectible per EDU
Projected
Revenue (1) FY 25-26
Proposed FY
26-27 FY 25-26
Proposed FY
26-27
Variance
($)
Variance
(%)
1 $163.22 $167.50 $163.22 $167.50 $4.28 2.62% $109,745.55 Total Projected Revenues $109,745.55
(1) The Projected Revenue are preliminary figures based upon the prior year's EDU assignments and the Proposed Rates for Fiscal Year 2026-27.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista, that it approves this Engineer’s Report for City Open Space District 1, in the form presented, with such minor modifications as may be required or approved by the City Attorney, a copy of which shall be kept on file in the Office of the City Clerk.

BE IT FURTHER RESOLVED, that the City Council of the City of Chula Vista declares its intention to levy and collect the assessments for City Open Space District 1, as identified in the Engineer’s Report, for the Fiscal Year 2026-27.

BE IT FURTHER RESOLVED that the City Council sets July 14, 2026, at 5:00 p.m. in the City Council Chambers, City of Chula Vista, 276 Fourth Avenue, Chula Vista, California as the date and time for the public hearing on the assessments.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Resolution No. 2026-
Page No. 2
Presented by Approved as to form
________________________________
Adrian Del Rio Marco A. Verdugo
Director of Finance/Treasurer City Attorney

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda RESOLUTION NO. 2026 -

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING THE ENGINEER’S REPORT,

DECLARING THE INTENTION TO LEVY AND COLLECT
ASSESSMENTS; AND SETTING A PUBLIC HEARING
REGARDING THE FISCAL YEAR 2026-27 ASSESSMENTS
FOR OPEN SPACE DISTRICT 20 ZONE 5
WHEREAS, pursuant to Article 4, Chapter 1, part 2 of Division 15 of the California Streets and Highways Code, also known as “Landscaping and Lighting Act of 1972” and Chula Vista Municipal Code Chapter 17.07, Spicer Consulting Group, LLC, has prepared and filed, on behalf of and under the direction of the City Engineer, the annual report (Engineer’s Report) for all existing Open Space Maintenance Districts in the City of Chula Vista (City); and WHEREAS, the Engineer’s Report is presented to the Council for approval in order to proceed with the public hearing set for July 14, 2026, in accordance with the Landscaping and Lighting Act of 1972. The Report covers Open Space District 20 Zone 5; and WHEREAS, the proposed assessments for Fiscal Year 2026-27 are as follows:

Open Space District or
Zone
Assessment per EDU Collectible per EDU
Projected Revenue
(1) FY 25-26
Proposed
FY 26-27 FY 25-26
Proposed
FY 26-27
Variance
($)
Variance
(%)
OSD 20 Zone 5 - SPA I $534.27 $548.26 $534.27 $548.26 $14.00 2.62% $984,135.35 Total Projected Revenues $984,135.35
(1) The Projected Revenue are preliminary figures based upon the prior year's EDU assignments and the Proposed Rates for Fiscal Year 2026-27.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista, that it approves this Engineer’s Report for City Open Space District 20 Zone 5, in the form presented, with such minor modifications as may be required or approved by the City Attorney, a copy of which shall be kept on file in the Office of the City Clerk.

BE IT FURTHER RESOLVED, that the City Council of the City of Chula Vista declares its intention to levy and collect the assessments for City Open Space District 20 Zone 5, as identified in the Engineer’s Report, for the Fiscal Year 2026-27.

BE IT FURTHER RESOLVED that the City Council sets July 14, 2026, at 5:00 p.m. in the City Council Chambers, City of Chula Vista, 276 Fourth Avenue, Chula Vista, California as the date and time for the public hearing on the assessments.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Resolution No. 2026-
Page No. 2
Presented by Approved as to form
________________________________
Adrian Del Rio Marco A. Verdugo
Director of Finance/Treasurer City Attorney

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda RESOLUTION NO. 2026 -

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING THE ENGINEER’S REPORT,

DECLARING THE INTENTION TO LEVY AND COLLECT
ASSESSMENTS; AND SETTING A PUBLIC HEARING
REGARDING THE FISCAL YEAR 2026-27 ASSESSMENTS
FOR OPEN SPACE DISTRICT 20 ZONE 7
WHEREAS, pursuant to Article 4, Chapter 1, part 2 of Division 15 of the California Streets and Highways Code, also known as “Landscaping and Lighting Act of 1972” and Chula Vista Municipal Code Chapter 17.07, Spicer Consulting Group, LLC, has prepared and filed, on behalf of and under the direction of the City Engineer, the annual report (Engineer’s Report) for all existing Open Space Maintenance Districts in the City of Chula Vista (City); and WHEREAS, the Engineer’s Report is presented to the Council for approval in order to proceed with the public hearing set for July 14, 2026, in accordance with the Landscaping and Lighting Act of 1972. The Report covers Open Space District 20 Zone 7; and WHEREAS, the proposed assessments for Fiscal Year 2026-27 are as follows:

Open Space District or
Zone
Assessment per EDU Collectible per EDU
Projected Revenue
(1) FY 25-26
Proposed
FY 26-27 FY 25-26
Proposed
FY 26-27
Variance
($)
Variance
(%)
OSD 20 Zone 7 - SPA III $253.38 $260.02 $253.38 $260.02 $6.64 2.62% $303,911.27 Total Projected Revenues $303,911.27
(1) The Projected Revenue are preliminary figures based upon the prior year's EDU assignments and the Proposed Rates for Fiscal Year 2026-27.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista, that it approves this Engineer’s Report for City Open Space District 20 Zone 7, in the form presented, with such minor modifications as may be required or approved by the City Attorney, a copy of which shall be kept on file in the Office of the City Clerk.

BE IT FURTHER RESOLVED that the City Council of the City of Chula Vista declares its intention to levy and collect the assessments for City Open Space District 20 Zone 7, as identified in the Engineer’s Report, for the Fiscal Year 2026-27.

BE IT FURTHER RESOLVED that the City Council sets July 14, 2026, at 5:00 p.m. in the City Council Chambers, City of Chula Vista, 276 Fourth Avenue, Chula Vista, California as the date and time for the public hearing on the assessments.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Resolution No. 2026-
Page No. 2
Presented by Approved as to form
________________________________
Adrian Del Rio Marco A. Verdugo
Director of Finance/Treasurer City Attorney

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Table 1. Open Space Districts within the City of Chula Vista OSD # Location
1 East of Paseo Ranchero - H Street & Telegraph Canyon
2 South and East of Loma Verde Park
3 South of Allen School Lane
4 Camino Elevado north of Otay Lakes Road
5 North end of Crest Drive south of E Street
6 Camino Vista Real north of Telegraph Cyn Rd
7 North & South of Palomar, east of I-805
8 Surrey Drive southwest of Otay Lakes Road
9 Paseo del Rey, north of Telegraph Canyon Road
10 West of Paseo Ranchero - H & J Streets
11 East H Street, east of I-805
14 North of East H Street - Otay Lakes Road & Corral
15 Canyon Drive, east of Otay Lakes Road
17 Northeast of Paseo Ladera & East J Street
18 East end of East Naples Street
20 Zone 1 Desilting Basin North of East H St, west of Otay Lakes Road Zone 2 Rice Canyon
Zone 3 H Street
Zone 4 Business Center
Zone 5 SPA I
Zone 6 SPA II
Zone 7 SPA III
Zone 8 N Desilting Basin
Zone 9 Telegraph Cyn Channel
23 West of Heritage/Otay Valley Road, south of Otay Rio 24 Rutgers Avenue, south of East H Street
26 West of the intersection of E St & Bonita Road
31 North of Otay Lakes Road, west of SR-125
33 West side of Broadway - J & K Streets
ELMD Zone A Eastlake I Eastlake Maintenance District No. 1 (ELMD) Zone B Eastlake Greens
Zone C Olympic Training Center
Zone D Salt Creek I
Zone E Telegraph Cyn Channel
- Bay Boulevard - E & F Streets
- Third Avenue - E & G Streets
El Rancho del Rey 6, Casa del Rey
Name
El Rancho del Rey Units 1 - 4
Larkhaven
Rancho Robinhood Units 1 & 2
Bonita Ridge
South Bay Villas
Hilltop Vista
Zenith Units 2, 3, and 4
Rancho Robinhood Unit 3
El Rancho del Rey
Town Centre Maintenance District
Hidden Vista Village
Bonita Long Canyon
Bonita Haciendas
Bel Air Ridge
Rancho del Sur
Otay Rio Business Park
Canyon View Homes
Park Bonita
Telegraph Canyon Estates
Broadway Business Home Village
Bay Boulevard Maintenance District

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Table 2. FY 2026-27 Proposed Assessments and Collectibles FY 25-26
Proposed
FY 26-27 FY 25-26
Proposed
FY 26-27 Variance ($) Variance (%)
1 $163.22 $167.50 $163.22 $167.50 $4.28 2.62% $109,745.55 2 $75.72 $77.70 $75.72 $77.70 $1.98 2.62% $19,269.51
3 $518.43 $532.02 $518.43 $532.02 $13.58 2.62% $67,566.01 4 $547.57 $561.92 $547.57 $561.92 $14.35 2.62% $116,879.17 5 $533.97 $547.96 $533.97 $547.96 $13.99 2.62% $66,850.70 6 $264.07 $270.99 $264.07 $270.99 $6.92 2.62% $43,900.67 7 $184.45 $189.28 $184.45 $189.28 $4.83 2.62% $18,928.45 8 $842.71 $864.79 $842.71 $864.79 $22.08 2.62% $95,127.15 9 $238.83 $245.08 $238.83 $245.08 $6.26 2.62% $94,357.09 10 $161.16 $165.38 $161.16 $165.38 $4.22 2.62% $108,614.89 11 $163.10 $167.37 $163.10 $167.37 $4.27 2.62% $221,103.61 14 $524.27 $538.00 $524.27 $538.00 $13.74 2.62% $463,757.41 15 $502.99 $516.17 $502.99 $516.17 $13.18 2.62% $29,421.41 17 $240.77 $247.07 $240.77 $247.07 $6.31 2.62% $11,365.42 18 $474.08 $497.78 $568.93 $583.83 $14.91 2.62% $217,031.54 20 Zone 1 - Desilting Basin $87.91 $90.21 $87.91 $90.21 $2.30 2.62% $79,561.66 Zone 2 - Rice Canyon $6.66 $6.83 $6.66 $6.83 $0.17 2.62% $27,046.03 Zone 3 - H Street $9.50 $9.75 $9.50 $9.75 $0.25 2.62% $59,905.43 Zone 4 - Business Center $73.10 $75.02 $73.10 $75.02 $1.92 2.62% $195,023.43 Zone 5 - SPA I $534.27 $548.26 $534.27 $548.26 $14.00 2.62% $984,135.35 Zone 6 - SPA II $410.50 $421.25 $410.50 $421.25 $10.76 2.62% $241,462.26 Zone 7 - SPA III $253.38 $260.02 $253.38 $260.02 $6.64 2.62% $303,911.27 Zone 8 - N Desilting Basin $58.40 $59.93 $58.40 $59.93 $1.53 2.62% $7,121.47 Zone 9 - Tel Cyn Channel $46.38 $47.59 $46.38 $47.59 $1.22 2.62% $2,380.02 23 $650.49 $667.53 $650.49 $667.53 $17.04 2.62% $76,752.72 24 $974.77 $1,000.31 $974.77 $1,000.31 $25.54 2.62% $40,012.30 26 $765.04 $785.09 $765.04 $785.09 $20.04 2.62% $14,916.69 31 $580.00 $580.00 $790.29 $811.00 $20.71 2.62% $199,520.00 33 (1) $0.00 $0.00 $1,931.45 $1,982.05 $50.60 2.62% $0.00 ELMD No. 1
Otay Lakes Rd (2) $0.00 $0.00 $2.50 $2.50 $0.00 0.00% $0.00 Zone A - Eastlake I $18.06 $18.54 $18.06 $18.54 $0.47 2.62% $161,238.58 Zone B - Eastlake Greens $29.59 $30.37 $29.59 $30.37 $0.78 2.62% $102,489.61 Zone C - Oly Training Ctr $6.00 $6.00 $245.03 $251.45 $6.42 2.62% $56,281.17 Zone D - Salt Creek I $326.81 $335.37 $326.81 $335.37 $8.56 2.62% $142,130.29 Zone E - Tel Cyn Chnl (3) $20.00 $20.00 $46.59 $47.81 $1.22 2.62% $13,360.60 Bay Boulevard (4) $1,995.30 $1,995.30 $4,216.21 $4,326.67 $110.46 2.62% $12,749.97 Town Centre (5) $0.00 $0.00 $0.15021 $0.15414 $0.00394 2.62% $0.00 Total Projected Revenues $4,403,917.41
(3) Portions of Eastlake I and Eastlake Greens are in this Benefit area. (4) Bay boulevard rates are based on acres.

Open Space District or Zone
Collectible
per Unit ($)
Projected
Revenue (6)
Maximum Assessment
per Unit ($)
(1) OSD 33 was formed several years ago in anticipation of development. The project has not progressed and consequently there is no maintenance required. Should the project develop in the future the District may be assessed to cover future maintenance expenses. (2) Zones A - D share in the cost of Otay Lakes Road medians and off-site parkways. Collectible and projected revenue for Otay Lakes Road are reflected in collectible and projected revenue for Zones A - D. (5) Town Centre rates have been based on parcel square footage since FY 2001-02. However, a Downtown PBID replaced this District in 2001, but the City determined that there was some potential long-term exposure for the City based on the remote potential that the current PBID might not receive sufficient support for renewal processes.
(6) The Projected Revenue are preliminary figures based upon the prior year's EDU assignments and the Proposed Rates for Fiscal Year 2026-27.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Preliminary Engineer’s Report
Fiscal Year 2026-27
Open Space Districts

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Table of Contents
City of Chula Vista
Engineer’s Report OSDs
Fiscal Year 2026-27
Sections
i. Executive Summary i
ii. Introduction iii

1. OSD No. 1 (El Rancho Del Rey Units 1 - 4) 1

2. OSD No. 2 (Larkhaven) 2

3. OSD No. 3 (Rancho Robinhood Units 1 - 2) 3

4. OSD No. 4 (Bonita Ridge) 4

5. OSD No. 5 (Southbay Villas) 5

6. OSD No. 6 (Hilltop Vista) 6

7. OSD No. 7 (Zenith Units 2 - 4) 7

8. OSD No. 8 (Rancho Robinhood Unit 3) 8

9. OSD No. 9 (El Rancho Del Rey) 9

10. OSD No. 10 (El Rancho Del Rey 6 & Casa Del Rey) 10

11. OSD No. 11 (Hidden Vista Village) 11

12. OSD No. 14 (Bonita Long Canyon) 12

13. OSD No. 15 (Bonita Haciendas) 13

14. OSD No. 17 (Bel Air Ridge) 14

15. OSD No. 18 (Rancho Del Sur) 15

16. OSD No. 20 (Rancho Del Rey, Zones 1 - 9) 16

17. OSD No. 23 (Otay Rio Business Park) 23

18. OSD No. 24 (Canyon View Homes) 25

19. OSD No. 26 (Park Bonita) 26

20. OSD No. 31 (Telegraph Canyon Estates) 27

21. OSD No. 33 (Broadway Business Home Village) 28

22. Eastlake Maintenance District No. 1 (Zones A - E) 30

23. Bay Boulevard Maintenance District 35

24. Town Centre Maintenance District 36

25. Assessment Diagrams 38

26. Engineer’s Signature 39

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda Table of Contents
City of Chula Vista
Engineer’s Report OSDs
Fiscal Year 2026-27
Appendices
Appendix A – Assessment Diagrams
Appendix B – Definitions of Budgeted Items
Appendix C – District Cost Summary
Appendix D – Assessment Rolls

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda i. Executive Summary Page | i
City of Chula Vista
Engineer’s Report OSDs
Fiscal Year 2026-27
AGENCY: CITY OF CHULA VISTA
PROJECT: OPEN SPACE MAINTENANCE DISTRICTS ENGINEER’S REPORT TO: CITY COUNCIL

CITY OF CHULA VISTA

STATE OF CALIFORNIA
WHEREAS, the City Council (the "City Council") of the City of Chula Vista (the “City”), pursuant to State of California Law, Part 2 of Division 15 of the Streets and Highways Code, the Landscaping and Lighting Act of 1972 (the “1972 Act”), and City of Chula Vista Municipal Code (collectively referred to hereafter as the "Acts"), previously formed each Open Space District ("OSD") referenced herein;
WHEREAS, the City Council directed staff to prepare and file a report for Fiscal Year 2026-27 presenting, for each OSD, the plans and specifications for the improvements, an estimate of the costs of the improvements, an assessment diagram and an assessment of the estimated costs to maintain, operate and service the improvements; WHEREAS, the assessments for Fiscal Year 2026-27 have been levied in accordance with the assessment methodology as confirmed by the City Council upon the formation of each OSD and are proportional to the special benefit received by each parcel.

The amount assessed to each parcel is equal to or less than the maximum assessment approved at the time of formation plus any allowable increases as described herein;
NOW THEREFORE, the following Fiscal Year 2026-27 assessments are made to finance the costs to maintain, operate and service the improvements within each OSD:

Open Space
District Name
Collectible
per Unit ($)
Maximum Assessment
per Unit ($)
1 El Rancho del Rey
Units 1-4 $167.50 $167.50
2 Lark haven $77.70 $77.70
3 Rancho Robinhood
Units 1 & 2 $532.02 $532.02
4 Bonita Ridge $561.92 $561.92
5 Southbay Villas $547.96 $547.96
6 Hilltop Vista $270.99 $270.99
7 Zenith Units 2, 3, & 4 $189.28 $189.28
8 Rancho Robinhood
Unit 3 $864.79 $864.79
9 El Rancho del Rey $245.08 $245.08
10 El Rancho del Rey 6,
Casa Del Rey $165.38 $165.38
11 Hidden Vista Village $167.37 $167.37
14 Bonita Long Canyon $538.00 $538.00
15 Bonita Haciendas $516.17 $516.17
17 Bel Air Ridge $247.07 $247.07
18 Rancho del Sur $497.78 $583.83
20 Zone 1 Desilting Basin $90.21 $90.21
20 Zone 2 Rice Canyon $6.83 $6.83
20 Zone 3 H Street $9.75 $9.75
20 Zone 4 Business Center $75.02 $75.02

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda i. Executive Summary Page | ii
City of Chula Vista
Engineer’s Report OSDs
Fiscal Year 2026-27
Open Space
District Name
Collectible
per Unit ($)
Maximum Assessment
per Unit ($)
20 Zone 5 SPA I $548.26 $548.26
20 Zone 6 SPA II $421.25 $421.25
20 Zone 7 SPA III $260.02 $260.02
20 Zone 8 N Desilting Basin $59.93 $59.93
20 Zone 9
Telegraph Canyon
Channel $47.59 $47.59
23 Otay Rio
Business Park $667.53 $667.53
24 Canyon View Homes $1,000.31 $1,000.31
26 Park Bonita $785.09 $785.09
31 Telegraph
Canyon Estates $580.00 $811.00
33 Broadway Business
Home Village $0.00 $1,982.05
-
Eastlake Maintenance
District No. 1 Zone A $18.54 $18.54
-
Eastlake Maintenance
District No. 1 Zone B $30.37 $30.37
-
Eastlake Maintenance
District No. 1 Zone C $6.00 $251.45
-
Eastlake Maintenance
District No. 1 Zone D $335.37 $335.37
-
Eastlake Maintenance
District No. 1 Zone E $20.00 $47.81
-
Bay Blvd
Maintenance District $1,995.30 $4,326.67
-
Town Centre
Maintenance District $0.00 $0.15414

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda ii. Introduction Page | iii
City of Chula Vista
Engineer’s Report OSDs
Fiscal Year 2026-27
The City administers and maintains 36 Open Space Districts and associated zones that have been established over the last 50 years.

The OSDs provide a financing mechanism to maintain the public open space areas associated with each particular development, ensuring the continued maintenance, operations, servicing, and administration of various improvements located within the public rightof- way and dedicated easements; all within the boundaries of each OSD.

This report has been prepared to support the annual assessment of the OSDs within the City's boundaries. The following information is presented to provide general information about the OSDs. Additional details specific to each OSD are listed in each OSD's dedicated section of this Engineer’s Report.

Proposition 218
In November 1996, California voters approved Proposition 218. The provisions of the Proposition are now contained in the California Constitution Articles XIIIC and XIIID. All assessments described in the report and approved by the City Council are prepared in accordance with the 1972 Act, the City's Municipal Code, and are in compliance with the provision of the California Constitution Article XIIID.

Pursuant to California Constitution Article XIIID Section 5, certain existing assessments are exempt from the substantive and procedural requirements of the Article XIIID Section 4 and the property owner balloting for the assessments is not required until such time that the assessments are increased or assessment methods changed.

Therefore, any pre-existing assessment amount (and any assessment identified in the Report) for those districts is subsequently exempt from the procedural requirements of Article XIIID Section 4. However, any future assessment increases in excess of that will be subject to the new requirements identified in California Constitution Article XIIID.

Plans and Specifications
The boundaries for each OSD can be located in Appendix A. The specific plans and specifications related to the continued maintenance, operations, servicing, and administration of the various improvements, is detailed in each OSD's dedicated section of this report.

Cost Summaries
The summary of the costs for each OSD can be located in Appendix C of this report. The summary includes the Fiscal Year 2026-27 Budget, the projected number of units for each OSD, and the Fiscal Year 2026-27 Collectible per unit for each OSD.

Annual Inflation Factor
Pursuant to the City's Municipal Code, annually the maximum assessment amount is subject to an inflation factor. The maximum assessment shall be the prior year's assessment increased or decreased by the inflation factor. The City's Municipal Code defines the inflation factor as the lesser of (1) the January to January San Diego Metropolitan Area All Urban Consumer Price Index (CPI) or (2) the change in the estimated California Fourth Quarter Per Capita Personal Income as contained in the Governor's budget published in January.

The maximum assessments for Fiscal Year 2026-27 are proposed at the Fiscal Year 2025-26 amounts adjusted by the inflation factor defined in the City's Municipal Code. The inflation factor for the Fiscal Year 2026-27 equals 2.62%, which is the January to January San Diego Metropolitan Area All Urban Consumer Price Index (CPI).

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda ii. Introduction Page | iv
City of Chula Vista
Engineer’s Report OSDs
Fiscal Year 2026-27
Method of Apportionment
Statutory Considerations
Pursuant to the Acts and Article XIIID, all parcels that receive a special benefit conferred upon them as a result of the maintenance and operation of improvements and services shall be identified, and the proportionate special benefit derived by each identified parcel shall be determined in relationship to the entire costs of the maintenance and operation of improvements. The Acts permit the establishment of assessment districts by local agencies for the purpose of providing certain public improvements which include the operation, maintenance and servicing of landscaping improvements.

The Acts and more specifically, the 1972 Act requires that maintenance assessments must be levied according to benefit rather than according to assessed value. This Section states:
"The net amount to be assessed upon lands within an assessment district may be apportioned by any formula or method which fairly distributes the net amount among all assessable lots or parcels in proportion to the estimated benefit to be received by each such lot or parcel from the improvements." The 1972 Act also permits the designation of zones of benefit within any individual assessment district if "by reasons or variations in the nature, location, and extent of the improvements, the various areas will receive different degrees of benefit from the improvement" (Sec. 22574).

Article XIIID, Section 4(a) of the California Constitution limits the amount of any assessment to the proportional special benefit conferred on the property. Article XIIID also provides that publicly owned properties must be assessed unless there is clear and convincing evidence that those properties receive no special benefit from the assessment. Examples of parcels exempted from the assessment would be the areas of public streets, public avenues, public lanes, public roads, public drives, public courts, public alleys, public easements and rights-of-ways, public greenbelts and public parkways.

Special Benefit
Pursuant to Proposition 218, or more specifically Section 2(i) of Article XIIID "Special benefit means a particular and distinct benefit over and above general benefits conferred on real property located in the district or to the public at large. General enhancement of property value does not constitute special benefit."
All parcels that have special benefit conferred upon them as a result of the improvements and services provided shall be identified, and the proportionate special benefit derived by each identified parcel shall be determined in relationship to the entire cost of the services and activities.

Basis of Assessment
The basis of assessment and method or apportionment for each OSD is provided within each OSD's section of this Engineer’s Report.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

1. OSD No. 1 (El Rancho Del Rey Units 1 – 4) Page | 1
City of Chula Vista
Engineer’s Report OSDs
Fiscal Year 2026-27
Open Space District No. 1 (OSD No. 1) was formed on August 7, 1973 to fund the maintenance of various improvements and services within the boundaries of the district.

Description of District Boundaries
Open Space District No. 1 is generally located between East H Street to the north, Otay Lakes Road to the east, Telegraph Canyon Road to the South, and Paseo Ranchero to the west. A copy of the boundary map for OSD No. 1 can be located in Appendix A of this report.

Description of Improvements and Services
A general description of the improvements, facilities, and services to be maintained by OSD No. 1 under these proceedings is described as follows, but shall not be limited to:
 Irrigation
 Fertilization
 Removal of weeds, trash and litter
 Pruning of trees and shrubs
 Replacement of dead or diseased trees and shrubs
 Repair of equipment and facilities
 Weed abatement
 Trail maintenance
Estimate of Costs
Please see Appendix C of this report for the OSD District Cost Summary that outlines the estimated cost of operating, maintaining, servicing and administering the improvements for Fiscal Year 2026-27. The Fiscal Year 2025-26 costs are also provided for comparison purposes.

Fiscal Year 2026-27 Assessment
Pursuant to the Assessment Law, all parcels within the boundaries of the district that have special benefit conferred upon them as a result of the maintenance and operation of improvements are identified and the proportionate special benefit derived by each identified parcel has been determined in relationship to the entire cost of the maintenance and operation of improvements. Only parcels that receive direct and special benefit are assessed, and each parcel is assessed in proportion to the estimated benefit received.

To apportion the total estimated costs of the district during any fiscal year, each of the parcels within the boundaries of the district are assigned Equivalent Dwelling Units (EDU) based upon the number of dwelling units present on each parcel.

The annual Collectible per EDU within the district is calculated by dividing the total annual costs by the total number of existing EDU within the district to determine the annual Collectible per EDU.

Under no circumstances, can the annual Collectible per EDU exceed the maximum assessment per EDU unless the district has successfully undertaken the appropriate Proposition 218 proceedings. The Total EDUs within OSD No. 1 is 655.20.

The Fiscal Year 2026-27 assessment is spread as follows:

Total Fiscal Year 2026-27 Budget $109,745.55
EDU 655.20
Fiscal Year 2026-27 Collectible per EDU $167.50
The maximum allowable Assessment rate for Fiscal Year 2026-27 is $167.50 per EDU.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

2. OSD No. 2 (Larkhaven) Page | 2
City of Chula Vista
Engineer’s Report OSDs
Fiscal Year 2026-27
Open Space District No. 2 (OSD No. 2) was formed on October 2, 1973 to fund the maintenance of various improvements and services within the boundaries of the district.

Description of District Boundaries
The OSD No. 2 is generally located South and East of Loma Verde Park and north and south of East Orange Avenue. A copy of the boundary map for OSD No. 2 can be located in Appendix A of this report.

Description of Improvements and Services
A general description of the improvements, facilities, and services to be maintained by OSD No. 2 under these proceedings is described as follows, but shall not be limited to:
 Irrigation
 Fertilization
 Removal of weeds, trash and litter
 Pruning of trees and shrubs
 Replacement of dead or diseased trees and shrubs
 Repair of equipment and facilities
 Weed abatement
Estimate of Costs
Please see Appendix C of this report for the OSD District Cost Summary that outlines the estimated cost of operating, maintaining, servicing and administering the improvements for Fiscal Year 2026-27. The Fiscal Year 2025-26 costs are also provided for comparison purposes.

Fiscal Year 2026-27 Assessment
Pursuant to the Assessment Law, all parcels within the boundaries of the district that have special benefit conferred upon them as a result of the maintenance and operation of improvements are identified and the proportionate special benefit derived by each identified parcel has been determined in relationship to the entire cost of the maintenance and operation of improvements. Only parcels that receive direct and special benefit are assessed, and each parcel is assessed in proportion to the estimated benefit received.

To apportion the total estimated costs of the district during any fiscal year, each of the parcels within the boundaries of the district are assigned Equivalent Dwelling Units (EDU) based upon the number of dwelling units present on each parcel. All parcels receive 1.00 EDU per unit.

The annual Collectible per EDU within the district is calculated by dividing the total annual costs by the total number of existing EDU within the district to determine the annual Collectible per EDU. Under no circumstances, can the annual Collectible per EDU exceed the maximum assessment per EDU unless the district has successfully undertaken the appropriate Proposition 218 proceedings. The Total EDUs within OSD No. 2 is 248.00.

The Fiscal Year 2026-27 assessment is spread as follows:

Total Fiscal Year 2026-27 Budget $19,269.51
EDU 248.00
Fiscal Year 2026-27 Collectible per EDU $77.70
The maximum allowable Assessment rate for Fiscal Year 2026-27 is $77.70 per EDU.

City of Chula Vista - City Council
May 19, 2026 Post City Council/Housing Authority/Successor Agency Agenda

3. OSD No. 3 (Rancho Robinhood Units 1 - 2) Page | 3
City of Chula Vista
Engineer’s Report OSDs
Fiscal Year 2026-27
Open Space District No. 3 (OSD No. 3) was formed on November 30, 1973 to fund the maintenance of various improvements and services within the boundaries of the district.

Description of District Boundaries
The OSD No. 3 is generally located within the boundary of the Rancho Robinhood 1 and 2 Subdivision. A copy of the boundary map for OSD No. 3 can be located in Appendix A of this report.

Description of Improvements and Services
A general description of the improvements, facilities, and services to be maintained by OSD No. 3 under these proceedings is described as follows, but shall not be limited to:
 Irrigation
 Fertilization
 Removal of weeds, trash and litter
 Pruning of trees and shrubs
 Replacement of dead or diseased trees and shrubs
 Repair of equipment and facilities
 Weed abatement
Estimate of Costs
Please see Appendix C of this report for the OSD District Cost Summary that outlines the estimated cost of operating, maintaining, servicing and administering the improvements for Fiscal Year 2026-27. The Fiscal Year 2025-26 costs are also provided for comparison purposes.

Fiscal Year 2026-27 Assessment
Pursuant to the Assessment Law, all parcels within the boundaries of the district that have special benefit conferred upon them as a result of the maintenance and operation of improvements are identified and the proportionate special benefit derived by each identified parcel has been determined in relationship to the entire cost of the maintenance and operation of improvements. Only parcels that receive direct and special benefit are assessed, and each parcel is assessed in proportion to the estimated benefit received.

To apportion the total estimated costs of the district during any fiscal year, each of the parcels within the boundaries of the district are assigned Equivalent Dwelling Units (EDU) based upon the number of dwelling units present on each parcel. All parcels receive 1.00 EDU per unit.

The annual Collectible per EDU within the district is calculated by dividing the total annual costs by the total number of existing EDU within the district to determine the annual Collectible per EDU. Under no circumstances, can the annual Collectible per EDU exceed the maximum assessment per EDU unless the district has successfully undertaken the appropriate Proposition 218 proceedings. The Total EDUs within OSD No. 3 is 127.00.

The Fiscal Year 2026-27 assessment is spread as follows:

Total Fiscal Year 2026-27 Budget $67,566.01
EDU 127.00
Fiscal Year 2026-27 Collectible per EDU $532.02
The maximum allowable Assessment rate for Fiscal Year 2026-27 is $532.02 per EDU.