Agenda packet — Escondido City Council, August 10, 2022

CITY of ESCONDIDO

Council Meeting Agenda
WEDNESDAY, AUGUST 10, 2022
4:00 PM - Closed Session - Cancelled
5:00 PM - Regular Session
Escondido City Council Chambers, 201 North Broadway, Escondido, CA 92025

WELCOME TO YOUR CITY COUNCIL MEETING
We welcome your interest and involvement in the legislative process of Escondido. This agenda includes information about topics coming before the City Council and the action recommended by City staff.

MAYOR
Paul McNamara

DEPUTY MAYOR
Tina Inscoe (District 2)

COUNCILMEMBERS
Consuelo Martinez (District 1)
Joe Garcia (District 3)
Michael Morasco (Disctrict 4)

CITY MANAGER
Sean McGlynn

CITY ATTORNEY
Michael McGuinness

CITY CLERK
Zack Beck

HOW TO WATCH
The City of Escondido provides three ways to watch a City Council meeting:

In Person On TV Online

201 N. Broadway Cox Cable Channel 19 and U-verse Channel 99 www.escondido.org

1 Wednesday, August 10, 2022

HOW TO PARTICIPATE
The City of Escondido provides two ways to communicate with the City Council during a meeting:

In Person In Writing

Fill out Speaker Slip and Submit to City Clerk https://escondido-ca.municodemeetings.com

ASSISTANCE PROVIDED
If you need special assistance to participate in this meeting, please contact our ADA Coordinator at 760-839-4869.

Notification 48 hours prior to the meeting will enable to city to make reasonable arrangements to ensure accessibility. Listening devices are available for the hearing impaired – please see the City Clerk.

REGULAR SESSION
5:00 PM Regular Session

2 Wednesday, August 10, 2022

MOMENT OF REFLECTION
City Council agendas allow an opportunity for a moment of silence and reflection at the beginning of the evening meeting. The City does not participate in the selection of speakers for this portion of the agenda, and does not endorse or sanction any remar ks made by individuals during this time. If you wish to be recognized during this portion of the agenda, please notify the City Clerk in advance.

FLAG SALUTE
The City Council conducts the Pledge of Allegiance at the beginning of every City Council meeting.

CALL TO ORDER
Roll Call: Garcia, Inscoe, Martinez, Morasco, McNamara

PRESENTATIONS
Clean Energy Alliance Update
Economic Development Data Dashboard Overview

ORAL COMMUNICATIONS
In addition to speaking during particular agenda items, the public may address the Council on any item which is not on the agenda provided the item is within the subject matter jurisdiction of the City Council. State law prohibits the Council from discussing or taking action on such items, but the matter may be referred to the City Manager/staff or scheduled on a subsequent agenda. Speakers are limited to only one opportunity to address the Council under Oral Communications.

CONSENT CALENDAR
Items on the Consent Calendar are not discussed individually and are approved in a single motion. However, Council members always have the option to have an item considered separately, either on their own request or at the request of staff or a member of the public.

1. AFFIDAVITS OF PUBLICATION, MAILING, AND POSTING (COUNCIL/RRB) –

2. APPROVAL OF MINUTES: Regular meetings of July 13, 2022 and July 20, 2022 and Special meeting of July 27, 2022.

3. APPROVAL OF WARRANT REGISTER (COUNCIL) –
Request approval for City Council and Housing Successor Agency warrant numbers:
365164 – 365460 dated July 20, 2022
365461 – 365643 dated July 27, 2022
Staff Recommendation: Approval (Finance Department: Christina Holmes) 3 Wednesday, August 10, 2022

4. FIREHOUSE SUBS PUBLIC SAFETY FOUNDATION GRANT AWARD AND BUDGET ADJUSTMENT - Request the City Council to accept a Firehouse Subs Public Safety Foundation Grant Award in the amount of $16,147.42 to purchase two Bullard QXT Thermal Imaging Cameras with Truck Mounts. It is also requested that Council authorize the Fire Chief or his designee to execute, on behalf of the City, all documents required for the management of this grant and that Council authorize the necessary budget adjustment to establish a new project number to track these grant funds.

Staff Recommendation: Approval (Fire: Rick Vogt, Fire Chief) Presenter: John Tenger, Deputy Fire Chief

5. TREASURER’S INVESTMENT REPORT FOR THE QUARTER ENDED JUNE 30, 2022 - Request the City Council approve the Quarterly Investment Report for the quarter ended June 30, 2022.

Staff Recommendation: Approve (Douglas Shultz, City Treasurer)

6. ESTABLISHING THE PROPERTY TAX RATE AND FIXED CHARGE ASSESSMENTS FOR GENERAL OBLIGATION

BONDED INDEBTEDNESS -
It is requested that the City Council adopt Resolution No. 2022-112 to establish the property tax rate and fixed charge assessments for bonded indebtedness for Fiscal Year 2022/23.

Staff Recommendation: Approval (Finance: Christina Holmes, Director of Finance) Presenter: Michelle Collett, Revenue Manager
Resolution No. 2022-112

7. REMOTE TELECONFERENCE MEETINGS PURSUANT TO AB 361
Request the City Council adopt Resolution No. 2022-117 by making the requisite findings and permit the City Council and its standing committees the flexibility to use modified Brown Act procedures for teleconferencing into meetings during this emergency period.

Staff Recommendation: Approval (Michael R. McGuinness, City Attorney and Zack Beck, City Clerk) Presenter: Michael R. McGuinness, City Attorney
a. Resolution No. 2022-117

CONSENT RESOLUTIONS AND ORDINANCES (COUNCIL/RRB)
The following Resolutions and Ordinances were heard and acted upon by the City Council/RRB at a previous City Council/Mobilehome Rent Review meeting. (The title of Ordinances listed on the Consent Calendar are deemed to have been read and further reading waived.)

PUBLIC HEARINGS

8. SHORT-FORM RENT INCREASE APPLICATION FOR CAREFREE RANCH MOBILEHOME PARK (FILE NO. 0697-20-10306)
4 Wednesday, August 10, 2022

Request the City Council review Carefree Ranch Mobilehome Park short -form application and if desired, adopt the Rent Review Board Resolution No. RRB 2022-103.

Staff Recommendation: Consider the short-form rent increase application submitted by Carefree Ranch Mobilehome Park and if approved, adopt Rent Review Board Resolution No. RRB 2022-103 (City Manager Office: Robert Van De Hey)
Presenter: Holly Nelson, Housing and Neighborhood Services Manager a. Resolution No. RRB 2022-103

CURRENT BUSINESS

9. REDUCTION and RETENTION OF SPEED LIMITS AND ESTABLISHMENT OF BUSINESS ACTIVITY DISTRICT

FOR GRAND AVENUE
Request the City Council adopt Resolution No. 2022-113 amending the traffic schedule for the speed zone at two locations; introduce Ordinance No. 2022 -10 retaining the posted speed limits on seven (7) street segments; and introduce Ordinance No. 2022-12 determining Grand Avenue from Centre City Parkway to South Juniper Street to be a Business Activity District and declare a prima facie speed limit of 25 MPH.

Staff Recommendation: Approval (Development Services: Julie Procopio, City Engineer) Presenter: Eddmond Alberto, City Traffic Engineer
a. Resolution 2022-113
b. Ordinance 2022-10
b. Ordinance 2022-12

10. CITY TREASURER COMPENSATION AND VACANCY STANDARDIZATION BALLOT MEASURE Request the City Council consider and take preferred action.

Staff Recommendation: None
Presenter: Gary McCarthy, Assistant City Attorney
a. Resolution No. 2022-114
b. Ordinance No. 2022-19

11. TERM LIMITS BALLOT MEASURE FOR ALL ELECTED OFFICES IN THE CITY OF ESCONDIDO Request the City Council consider and introduce Ordinance No. 2022-20 and adopt Resolution No. 2022- 115 to place a ballot measure to set term limits for all elected offices in the City of Escondido on the November 8, 2022, consolidated general election.

Staff Recommendation: None
5 Wednesday, August 10, 2022

Presenters: Gary McCarthy, Assistant City Attorney
a. Ordinance No. 2022-20
b. Resolution No. 2022-115

FUTURE AGENDA

12. FUTURE AGENDA
The purpose of this item is to identify issues presently known to staff or which members of the City Council wish to place on an upcoming City Council agenda. Council comment on these future agenda items is limited by California Government Code Section 54954.2 to clarifying questions, brief announcements, or requests for factual information in connection with an item when it is discussed.

Staff Recommendation: None (City Clerk's Office: Zack Beck)

COUNCILMEMBERS SUBCOMMITTEE REPORTS AND OTHER REPORTS
CITY MANAGER’S WEEKLY ACTIVITY REPORT
The most current information from the City Manager regarding Economic Development, Capital Improvement Projects, Public Safety, and Community Development. This repo rt is also available on the City’s website, www.escondido.org.

ADJOURNMENT

UPCOMING MEETING SCHEDULE
Wednesday, August, 17, 2022 4:00 & 5:00 PM Regular Meeting, Council Chambers Wednesday, August, 24, 2022 4:00 & 5:00 PM Regular Meeting, Council Chambers

SUCCESSOR AGENCY
Members of the Escondido City Council also sit as the Successor Agency to the Community Development Commission, Escondido Joint Powers Financing Authority, and the Mobilehome Rent Review Board.

6 Consent Item No. 1 August 10, 2022

A F F I D A V I T S

I T E M

P O S T I N G - NONE
7 Item1.

July 13, 2022 Escondido City Council Minutes Page 1 of 3

REGULAR SESSION
5:00 PM Regular Session

MOMENT OF REFLECTION
City Council agendas allow an opportunity for a moment of silence and reflection at the beginning of the evening meeting. The City does not participate in the selection of speakers for this portion of the agenda, and does not endorse or sanction any remarks made by individuals during this time. If you wish to be recognized during this portion of the agenda, please notify the City Clerk in advance.

FLAG SALUTE
The City Council conducts the Pledge of Allegiance at the beginning of every City Council meeting.

CALL TO ORDER
Roll Call: Garcia, Martinez, Morasco, Inscoe, McNamara

PRESENTATIONS

ORAL COMMUNICATIONS
Sam Abed – Expressed appreciation to City Staff for their professionalism on the var ious development projects he has been working on in Escondido. Mr. Abed also expressed concern regarding a controversial piece at the recent art exhibit at the California Center for the Arts and requested that the City Council defund the California Center for the Arts.

CONSENT CALENDAR
Motion: Morasco; Second: Martinez; Approved: 5-0

1. AFFIDAVITS OF PUBLICATION, MAILING, AND POSTING (COUNCIL/RRB) -

2. APPROVAL OF WARRANT REGISTER (COUNCIL) -
Request the City Council approve the City Council and Housing Successor Agency warrant numbers:
364185 – 364196 dated June 9, 2022
364197 – 364422 dated June 15, 2022
8 Item2.

July 13, 2022 Escondido City Council Minutes Page 2 of 3

364423 – 364645 dated June 22, 2022
364646 – 364817 dated June 29, 2022
Staff Recommendation: Approval (Finance Department: Christina Holmes)

3. APPROVAL OF MINUTES: Regular meetings of June 15, 2022 and June 22, 2022, and Special Meeting of June 27, 2022.

4. AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ESCONDIDO, CALIFORNIA,

AUTHORIZING THE DEPUTY CITY MANAGER TO EXECUTE CDBG, HOME, AND ESG CONTRACTS, INCLUDING THOSE INVOLVING NON-SUBSTANTIAL CHANGES – Approved on June 15, 2022 with a vote of 4/0 (Inscoe- Absent) a. Ordinance No. 2022-11 (Second Reading and Adoption)

5. REVIEW AND CONSIDERATION OF REVENUE MEASURE SURVEY RESULTS AND DIRECTION TO

STAFF -
Request the City Council review and consider the results of the May 2022 community survey and provide
Staff Recommendation: Provide Direction
Presenters: Tim McLarney, True North Research
Mark S karovich – Expressed support for the Council placing a Revenue Measure on the November 8, 2022 Ballot.

City Council directed staff to return with ballot language options at a future Council Meeting.

6. DESIGNATION OF VOTING DELEGATE – LEAGUE OF CALIFORNIA CITIES CONFERENCE - Request the City Council designate the Voting Delegate and up to two alternates for the League of California Cities Annual Conference in Long Beach, California on September 7-9, 2022.

Staff Recommendation: Approval (City Clerk’s Office: Zack Beck) 9 Item2.

July 13, 2022 Escondido City Council Minutes Page 3 of 3

Motion to designate Councilmember Martinez as voting delegate and Councilmember Garcia as alternate: Morasco; Second: McNamara; Approved: 5-0

FUTURE AGENDA

7. FUTURE AGENDA
The purpose of this item is to identify issues presently known to staff or which members of the City Council wish to place on an upcoming City Council agenda. Council comment on these future agenda items is limited by California Government Code Section 54954.2 to clarifying questions, brief announcements, or requests for factual information in connection with an item when it is discussed.

Staff Recommendation: None (City Clerk's Office: Zack Beck)

COUNCILMEMBERS SUBCOMMITTEE REPORTS AND OTHER REPORTS
Garcia: Met with the Escondido Chamber of Commerce.

Martinez: Attended a San Diego County Water Authority meeting.

Inscoe: Attended a Regional Solid Waste Authority meeting. Met with the Escondido Chamber of Commerce.

Morasco: Thanked City Staff for getting the City Hall Fountain back in order.

McNamara: San Diego Airport Board is hosting a meeting on July 26 5-6:30 p.m at the East Valley Community Center to be a concessionaire at the new Terminal 1 at the Airport.

CITY MANAGER’S WEEKLY ACTIVITY REPORT
The most current information from the City Manager regarding Economic Development, Capital Improvement Projects, Public Safety, and Community Development. This report is also available on the City’s website, www.escondido.org.

ORAL COMMUNICATIONS
None.

ADJOURNMENT

Mayor McNamara adjourned the meeting at 6:31 p.m.

10 Item2.

July 20, 2022 Escondido City Council Minutes Page 1 of 6

REGULAR SESSION
5:00 PM Regular Session

MOMENT OF REFLECTION
City Council agendas allow an opportunity for a moment of silence and reflection at the beginning of the evening meeting. The City does not participate in the selection of speakers for this portion of the agenda, and does not endorse or sanction any remarks made by individuals during this time. If you wish to be recognized during this portion of the agenda, please notify the City Clerk in advance.

FLAG SALUTE
The City Council conducts the Pledge of Allegiance at the beginning of every City Council meeting.

CALL TO ORDER
Roll Call: Garcia, Inscoe, Martinez, Morasco, McNamara

ORAL COMMUNICATIONS
Kevin Stevenson – Expressed opposition to Congressional candidate David Chiddick.

CONSENT CALENDAR
Motion to approve all Consent Items except items 10 and 16: Martinez; Second: Inscoe; Approved: 5-0

1. AFFIDAVITS OF PUBLICATION, MAILING, AND POSTING (COUNCIL/RRB) -

2. APPROVAL OF WARRANT REGISTER (COUNCIL) -
Request approval for City Council and Housing Successor Agency warrant numbers 364818 – 364989 dated July 6, 2022.

Staff Recommendation: Approval (Finance Department: Christina Holmes)

3. APPROVAL OF MINUTES: None

4. AMENDMENT TO EXHIBIT B OF THE 2003 AGREEMENT RELATING TO SUPPLEMENTAL WATER

AMONG THE METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA, THE SAN LUIS REY

SETTLEMENT PARTIES, AND THE UNITED STATES -
Request the City Council adopt Resolution No. 2022-102 authorizing the Mayor to execute, on behalf of the City of Escondido, a letter amending Exhibit B of the 2003 Agreement Relating to 11 Item2.

July 20, 2022 Escondido City Council Minutes Page 2 of 6

Supplemental Water Among The Metropolitan Water District of Southern California, the San Luis Rey Settlement Parties, and the United States (“MWD Exchange Agreement”).

Staff Recommendation: Approval (Utilities: Christopher W. McKinney) Presenter: Christopher W. McKinney, Deputy City Manager/Director of Utilities Resolution 2022-102

5. AUTHORIZATION TO PROCESS A TEXT AMENDMENT TO THE G ENERAL PLAN LAND USE

DESIGNATION OF PLANNED OFFICE (PO) TO EVALUATE EXPANSION OF ALLOWABLE USES

INCLUDING FOR EDUCATIONAL FACILITIES -
Request the City Council authorize the processing of a text amendment to the General Plan Land Use and Community Form Chapter to evaluate expansion of allowable uses, including for education facilities, in the Planned Office (PO) land use designation.

Staff Recommendation: Approval (Development Services Department: Julie Procopio, Interim Director of Development Services)
Presenter: Ivan Flores, Associate Planner

6. FOURTH AMENDMENT TO THE PUBLIC SERVICES AGREEMENT WITH STEVEN SMITH LANDSCAPE, INC. FOR LANDSCAPE MAINTENANCE SERVICES FOR THE CITY OF ESCONDIDO

LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT -
Request the City Council adopt Resolution Number 2022 -72, authorizing the Mayor to execute a Fourth Amendment to the Public Services Agreement (“PSA”), ex ercising the option period three (3) for Landscape Maintenance Services for the City of Escondido Landscape Maintenance District (“LMD”) (“Attachment 1”), extending the Agreement through June 30, 2023.

Staff Recommendation: Approval and File (Engineering Services, Julie Procopio)

Resolution No. 2022-72

7. FINAL MAPS UNDER CONSIDERATION FOR APPROVAL -
The following Final Maps have been filed for approval by the City Engineer in accordance with Ordinance 2022-02: Tract PL21-0056 on La Lomita Drive.
12 Item2.

July 20, 2022 Escondido City Council Minutes Page 3 of 6

8. SETTING SPECIAL TAX LEVY FOR COMMUNITY FACILITIES DISTRICT NO. 2000-01 (HIDDEN

TRAILS) -
Request the City Council adopt Resolution 2022-86, setting the Special Tax Levy for Community Facilities District No. 2000-01 (Hidden Trails) (the “District”) for Fiscal Year 2022-23.

Staff Recommendation: Approval (Finance: Christina Holmes, Director of Finance) Presenter: Christina Holmes, Director of Finance
Resolution No. 2022-86

9. SETTING SPECIAL TAX LEVY FOR COMMUNITY FACILITIES DISTRICT NO. 2006-01 (EUREKA

RANCH) -
Request the City Council adopt Resolution 2022-85, setting the Special Tax Levy for Community Facilities District No. 2006-01 (Eureka Ranch) (the “District”) for Fiscal Year 2022-23.

Staff Recommendation: Approval (Finance: Christina Holmes, Director of Finance) Presenter: Christina Holmes, Director of Finance
Resolution No. 2022-85

10. SETTING SPECIAL TAX LEVY FOR COMMUNITY FACILITIES DISTRICT NO. 2020-1 (Public Services) -
Request the City Council adopt Resolution 2022-87, setting the Special Tax Levy for Community Facilities District No. 2020-1 (“Public Services CFD”) for Fiscal Year 2022/23.

Staff Recommendation: Approval (Finance: Christina Holmes, Director of Finance) Presenter: Christina Holmes, Director of Finance
Resolution No. 2022-87
Motion: Martinez; Second: McNamara; Approved: 4-1 (Morasco – No)

11. SETTING SPECIAL TAX LEVY FOR COMMUNITY FACILITIES DISTRICT NO. 2020-2 (The Villages) - Request the City Council adopt Resolution 2022-88, setting the Special Tax Levy for Community Facilities District No. 2020-2 (The Villages) (The “District”) for Fiscal Year 2022/23.

Staff Recommendation: Approval (Finance: Christina Holmes, Director of Finance) Presenter: Christina Holmes, Director of Finance
13 Item2.

July 20, 2022 Escondido City Council Minutes Page 4 of 6

Resolution 2022-88

12. OUT-OF-AGENCY SERVICE AGREEMENT FOR 2314 Felicita Avenue–PL 22-0196 - Request the City Council adopt Resolution No. 2022 -90, making application to the San Diego County Local Agency Formation Commission (“LAFCO”) for an out-of-agency service agreement and authorizing the Mayor to execute said agreement, and establishing a pre-zoning designation of RE-20, for a property located at 2314 Felicita Avenue (APN 238-320-01-00).

Staff Recommendation: Approval (Development Services Department: Julie Procopio) Presenter: Ivan Flores, Associate Planner
Resolution No. 2022-90

13. CHANGE ORDERS AND AMENDMENT FOR THE SAN PASQUAL UNDERGROUNDING PROJECT - Request the City Council adopt Resolution No. 2022-100, authorizing change orders to the Public Improvement Agreement with Sukut Construction, LLC, in the amount of $7,949,581.24 for the San Pasqual Undergrounding Project (“Project”); and adopt Resolution No. 2022 -101, authorizing a Second Amendment to the Consulting Agreement with Arcadis U.S. Inc., in the amount of $569,797.00 for the Project.

Staff Recommendation: Approval (Utilities: Christopher W. McKinney, Deputy City Manager/Director of Utilities)
Presenter: Angela Morrow, Deputy Director of Utilities
Resolution No. 2022-100
Resolution No. 2022-101

14. BODY WORN CAMERAS AND CONDUCTED ENERGY WEAPONS PURCHASE - Request the City Council adopt Resolution No. 2022-95 authorizing the Mayor to sign a five-year agreement to purchase Body Worn Cameras and Conducted Energy Weapons through a Sole Source purchase with Axon Enterprises, Inc. to provide the hardware, software, licenses, training and service.

Staff Recommendation: Approval (Police Department: David Cramer, Interim Chief) Presenter: David Cramer, Interim Chief
Resolution No. 2022-95
14 Item2.

July 20, 2022 Escondido City Council Minutes Page 5 of 6

15. FY2022 CALIFORNIA GOVERNOR'S OFFICE OF EMERGENCY SERVICES (Cal OES) HIGH FREQUENCY COMMUNICATIONS $55,516 GRANT ACCEPTANCE AND BUDGET ADJUSTMENT - Request the City Council authorize the Escondido Fire Department to accept FY 2022 Cal OES Grant funds in the amount of $55,516 to purchase and install a High Frequency radio in the City’s Emergency Operations Center; authorize the Fire Chief or his designee to execute grant documents on behalf of the City; and approve budget adjustments needed to spend grant funds.

Staff Recommendation: Approval (Fire: Rick Vogt)
Presenter: Jeff Murdock

16. AWARD PURCHASE OF FUELS FOR FISCAL YEAR 2023 -
Request the City Council adopt Resolution No. 2022 -67, approving the purchase of unleaded gasoline and diesel fuel from SC Fuels, Inc. in the amount of $1 ,200,000 utilizing a 5 -year Cooperative Purchase Agreement between the City of San Diego and SC Fuels, RFP No. 10089315-18-K, pursuant to Escondido Municipal Code Chapter 10, Article 5, Section 10-91.

Staff Recommendation: Approval (Public Works, Fleet Services: Joseph Goulart, Director of Public Works)
Presenter: Jeramiah Jennings, Fleet Maintenance Superintendent Resolution No. 2022-67
Carlos Schwab III – Expressed opposition to this item.

Motion: Morasco; Second: Garcia; Approved: 5-0

CURRENT BUSINESS

COUNCILMEMBERS SUBCOMMITTEE REPORTS AND OTHER REPORTS
Garcia – Informed the public of a Federal Government program for internet services. 15 Item2.

July 20, 2022 Escondido City Council Minutes Page 6 of 6

Martinez – Attended a Council of Water Utilities Meeting.

Morasco – Attended a Revenue Measure Subcommittee Meeting.

Inscoe - Attended a San Dieguito River Park JPA Meeting.

McNamara – Attended a Revenue Measure Subcommittee Meeting and a Community Advisory Group meeting on Homelessness.

FUTURE AGENDA

17. FUTURE AGENDA
The purpose of this item is to identify issues presently known to staff or which members of the City Council wish to place on an upcoming City Council agenda. Council comment on these future agenda items is limited by California Government Code Section 54954.2 to clarifying questions, brief announcements, or requests for factual information in connection with an item when it is discussed.

Staff Recommendation: None (City Clerk's Office: Zack Beck) CITY MANAGER’S WEEKLY ACTIVITY REPORT
The most current information from the City Manager regarding Economic Development, Capital Improvement Projects, Public Safety, a nd Community Development. This report is also available on the City’s website, www.escondido.org.

ORAL COMMUNICATIONS
None.

ADJOURNMENT
Mayor McNamara adjourned the meeting at 5:15 p.m.
16 Item2.

July 20, 2022 Escondido City Council Minutes Page 1 of 7

REGULAR SESSION
5:00 PM Regular Session

MOMENT OF REFLECTION
City Council agendas allow an opportunity for a moment of silence and reflection at the beginning of the evening meeting. The City does not participate in the selection of speakers for this portion of the agenda, and does not endorse or sanction any remarks made by individuals during this time. If you wish to be recognized during this portion of the agenda, please notify the City Clerk in advance.

FLAG SALUTE
The City Council conducts the Pledge of Allegiance at the beginning of every City Council meeting.

CALL TO ORDER
Roll Call: Garcia, Inscoe, Martinez, Morasco, McNamara

ORAL COMMUNICATIONS
Rick Paul –

CONSENT CALENDAR
Motion to approve all Consent Calendar Items: Morasco; Second: Martinez; Approved: 5-0

1. AFFIDAVITS OF PUBLICATION, MAILING, AND POSTING (COUNCIL/RRB) -

2. APPROVAL OF WARRANT REGISTER (COUNCIL)
Request approval for City Council and Housing Successor Agency warrant numbers 364990 – 365163 dated July 13, 2022.

Staff Recommendation: Approval (Finance Department: Christina Holmes)

3. APPROVAL OF MINUTES: None

4. AMENDMENT TO ESCONDIDO FIRE ASSOCIATION MEMORANDUM OF UNDERSTANDING TO INITIATE PARTICIPATION IN THE CALIFORNIA FIREFIGHTERS BENEFIT TRUST AND A CHANGE TO THE CITY’S MANAGEMENT AND UNCLASSIFIED SALARY AND BENEFITS PLAN 2021-2022 17 Item2.

Wednesday, July 27, 2022

July 27, 2022 Escondido City Council Minutes Page 2 of 7

Request the City Council (1) adopt Resolution 2022-96, authorizing the City’s negotiating team to execute a First Amendment to The Memorandum of Understanding Between Representatives of the Escondido Firefighters’ Association – Safety Personnel – Non-Safety Personnel, and The City of Escondido, January 1, 2021 – December 31, 2022; and (2) adopt Resolution 2022-97, authorizing the City Manager to modify the Management and Unclassified Salary and Benefits Plan 2021-2022 to mandate continued contributions to the Retiree Medical Trust used by the Escondido Firefighters’ Association for Employees Promoted to Fire Management positions.

Staff Recommendation: Approval (Human Resources: Jessica Perpetua, Director of Human Resources) Presenter: Jessica Perpetua, Director of Human Resources

5. PROFESSIONAL SERVICES AGREEMENT WITH WITTMAN ENTERPRISES, LLC TO PROVIDE EMERGENCY

MEDICAL SERVICES (EMS) BILLING SERVICES
Request the City Council adopt Resolution No. 2022-105, authorizing the Mayor to execute a Professional Services Agreement with Wittman Enterprises, LLC to provide billing and collection services for ambulance transport and related services operated by the City of Escondido Fire Department.

Staff Recommendation: Approval (Finance: Christina Holmes, Director of Finance) Presenter: Christina Holmes, Director of Finance
Resolution No. 2022-105

6. AWARD OF AUDITING SERVICES CONTRACT
Request the City Council adopt Resolution No. 2022 -104, authorizing the Mayor to execute a Public Services Agreement with CliftonLarsonAllen LLP for audit services for fiscal years 2022 through 2026, with an option to extend up to an additional two years.

Staff Recommendation: Approval (Finance: Christina Holmes, Director of Finance) Presenter: Christina Holmes, Director of Finance
Resolution No. 2022-104

7. SETTING SPECIAL TAX LEVY FOR COMMUNITY FACILITIES DISTRICT NO. 2022 -1 (ECLIPSE/MOUNTAIN HOUSE)
Request the City Council adopt Resolution 2022-106, setting the Special Tax Levy for Community Facilities District No. 2022-1(Eclipse/Mountain House) (the “District”) for Fiscal Year 2022-23 18 Item2.

Wednesday, July 27, 2022

July 27, 2022 Escondido City Council Minutes Page 3 of 7

Staff Recommendation: Approval (Finance: Christina Holmes, Director of Finance) Motion: Martinez; Second: Garcia; Approved: 5-0
Presenter: Christina Holmes, Director of Finance
Resolution No. 2022-106

8. REQUEST TO INITIATE AN ANNEXATION FOR A 5.09 ACRE PARCEL LOCATED ON THE SOUTHWEST CORNER OF N. ASH STREET AND STANLEY AVENUE (APN: 224-130-10-00) (PLANNING CASE NO. PL22- 0154)
It is requested that the City Council review and receive the request to initiate an annexation, and authorize the filing of an application for a 5.09 parcel on the southwest corner of Stanley Avenue and Ash Street (APN 224-130-10-00).

Staff Recommendation: Approval (Interim Director of Development Services: Julie Procopio) Presenter: Ivan Flores, Associate Planner

9. BID AWARD FOR THE GRAPE DAY PARK MASTER PLAN AND AQUATIC CENTER DESIGN Request the City Council adopt Resolution No. 2022-111, authorizing the Mayor, on behalf of the City, to execute a Consulting Agreement with LPA, Inc. in the amount of $1,040,400, for the completion of a Grape Day Park Master Plan and design of an Aquatic Center (“Project”) on Woodward Avenue.

Staff Recommendation: Approval (Communications and Community Services: Joanna Axelrod) Presenter: Danielle Lopez, Assistant Director of Community Services a. Resolution No. 2022-111

Item moved to a future Council Meeting.

PUBLIC HEARINGS

CURRENT BUSINESS
19 Item2.

Wednesday, July 27, 2022

July 27, 2022 Escondido City Council Minutes Page 4 of 7

10. CONSIDERATION OF RESOLUTION AND ORDINANCE PLACING THE ESCONDIDO PUBLIC SAFETY AND

ESSENTIAL SERVICES REVENUE MEASURE BEFORE VOTERS AT THE MUNICIPAL ELECTION ON NOVEMBER 8, 2022.

Request the City Council (a) adopt Resolution No. 2022-98R calling for an election submitting a proposed one cent general transactions and use (sales) tax increase to the voters; (b) introduce Ordinance No. 2022- 15 amending the Escondido Municipal Code to establish a one cent sales tax to b e administered by the California Department of Tax and Fee Administration, including provisions for citizens’ oversight and accountability; and (c) adopt Resolution No. 2022-99 expressing the Intent of the City Council in adopting Ordinance No. 2022-15.

While the introduction of additional taxes on people at any time should never be done casually, after several months of outreach and engagement with residents and community groups joining this important discussion, staff recommends placing this item on the N ovember 2022 ballot to allow the voters the opportunity to consider an issue which will address the long-term fiscal health of the City of Escondido for years to come.

Staff Recommendation: Approval (City Manager: Sean McGlynn) Presenters: Joanna Axelrod, Deputy City Manager/Director of Communications & Community Services; Christina Holmes, Finance Director
Resolution No. 2022-98RR
Resolution No. 2022-99 – Resolution of Intent
Ordinance No. 2022-15
Carl Skaja – Expressed support for this item.

Rick Paul – Expressed support for a half-cent sales tax with a 15-year sunset.

Joshua Stevens – Expressed support for this item.

Greg Anglea – Expressed support for this item.

Cliff Reader – Expressed opposition to this item.

Tom Albergo – Expressed support for this item.

Lori Holt Pfeiler (BIA CEO) – Expressed support for this item.

Carolyn Clemens – Expressed support for this item.
20 Item2.

Wednesday, July 27, 2022

July 27, 2022 Escondido City Council Minutes Page 5 of 7

Pam Albergo – Expressed support for this item.

Katie Zack – Expressed support for this item.

Cameron Curry – Expressed opposition to this item.

Youssef Hanna – Expressed support for this item.

Laura Hunter – Expressed support for this item.

Jonathan San Nicolas – Expressed support for this item.

Tammy Miller – Expressed support for this item.

Mike – Expressed support for this item.

Sam M – Expressed support for this item.

Linda Wilkinson – Expressed support for this item.

Michelle Rudisell – Expressed support for this item.

Kevin Beverly – Expressed support for this item.

Joanne Tenney – Expressed support for this item.

Georgine Tomasi – Expressed support for this item.

John Williams – Expressed support for this item.

Rafael Rivera – Expressed support for this item.

Ryan Vierra – Expressed support for this item.

Art Hart – Expressed support for this item.

James Rowten (CEO Chamber of Commerce) – Expressed support for this item.

David Abraham – Expressed support for this item.

Motion for 1 Cent Sales Tax Rate , until ended by voters: McNamara; Second: Martinez; Failed 2 -3 (Morasco, Inscoe, Garcia – No)
21 Item2.

Wednesday, July 27, 2022

July 27, 2022 Escondido City Council Minutes Page 6 of 7

Motion for a 1 Cent Sales Tax Rate with 20 -year Sunset: McNamara; Second: Martinez; Failed 2 -3 (Morasco, Inscoe, Garcia – No)
Motion for a 1 Cent Sales Tax Rate with 15 -Year Sunset: McNamara; Second: Martinez; Failed 3 -2 (Morasco, Garcia – No)
Motion for a ¾ Cent Sales Tax Rate with a 15-Year Sunset and inclusion of “Reducing Pension Obligations” in the ballot question language: Morasco; Second: Martinez; Approved: 4-1 (Garcia – No)

11. TERM LIMITS BALLOT MEASURE FOR CITY COUNCILMEMBERS AND THE MAYOR Consider and introduce Ordinance No. 2022 -13 and adopt Resolution No. 2022 -91R to place a ballot measure to set term limits for the Mayor and City Councilmembers on the November 8, 2022, consolidated general election.

Staff Recommendation: None
Presenters: Gary McCarthy, Assistant City Attorney
ORDINANCE NO. 2022-13

RESOLUTIONS
RESOLUTION NO. 2022-91R
Item continued to August 10, 2022.

12. CITY TREASURER BALLOT MEASURE OPTIONS
Request the City Council consider and address the alternatives provided below and take preferred action.

If the City Council intends to place the City Treasurer’s compensation on the ballot, it should adopt Ordinance No. 2022-16 and Resolution No. 2022-107R.

If the City Council intends to ask the voters to make the City Treasurer an appointed position, it should adopt Ordinance No. 2022-17 and Resolution No. 2022-108R.

Staff Recommendation: Provide Direction (City Attorney: Gary McCarthy, Assistant City Attorney) Presenter: Gary McCarthy, Assistant City Attorney
Doug Shultz – Expressed support for keeping the City Treasurer an elected position with a reduced salary. 22 Item2.

Wednesday, July 27, 2022

July 27, 2022 Escondido City Council Minutes Page 7 of 7

Ryan Saathoff – Expressed support for making the City Treasurer an appointed position.

Item continued to August 10, 2022.

FUTURE AGENDA

13. FUTURE AGENDA
The purpose of this item is to identify issues presently known to staff or which members of the City Council wish to place on an upcoming City Council agenda. Council comment on these future agenda items is limited by California Government Code Section 54954.2 to clarifying questions, brief announcements, or requests for factual information in connection with an item when it is discussed.

Staff Recommendation: None (City Clerk's Office: Zack Beck)

COUNCILMEMBERS SUBCOMMITTEE REPORTS AND OTHER REPORTS
CITY MANAGER’S WEEKLY ACTIVITY REPORT
The most current information from the City Manager regarding Economic Development, Capital Improvement Projects, Public Safety, and Community Development. This report is also available on the City’s website, www.escondido.org.

ORAL COMMUNICATIONS
None.

ADJOURNMENT
Mayor McNamara adjourned the meeting at 7:02 p.m.

23 Item2.

STAFF REPORT

August 10, 2022
File Number 0400-40

SUBJECT

APPROVAL OF WARRANT REGISTER (COUNCIL)

DEPARTMENT
Finance

RECOMMENDATION
Request approval for City Council and Housing Successor Agency warrant numbers:
365164 – 365460 dated July 20, 2022
365461 – 365643 dated July 27, 2022
Staff Recommendation: Approval (Finance Department: Christina Holmes)

FISCAL ANALYSIS
The total amount of the warrants for the following periods are as follows:

July 14 – July 20, 2022, is $10,877,444.47
July 21 – July 27, 2022, is $3,165,796.87

BACKGROUND

The Escondido Municipal Code Section 10-49 states that warrants or checks may be issued and paid prior to audit by the City Council, provided the warrants or checks are certified and approved by the Director of Finance as conforming to the current budget. These warrants or checks must then be ratified and approved by the City Council at the next regular Council meeting.

24 Item3.

STAFF REPORT

August 10, 2022
File Number 0480-70

SUBJECT

FIREHOUSE SUBS PUBLIC SAFETY FOUNDATION GRANT AWARD AND BUDGET ADJUSTMENT

DEPARTMENT
Fire

RECOMMENDATION
Request the City Council to accept a Firehouse Subs Public Safety Foundation Grant Award in the amount of $16,147.42 to purchase two Bullard QXT Thermal Imaging Cameras with Truck Mounts. It is also requested that Council authorize the Fire Chief or his d esignee to execute, on behalf of the City, all documents required for the management of this grant and that Council authorize the necessary budget adjustment to establish a new project number to track these grant funds.

Staff Recommendation: Approval (Fire: Rick Vogt, Fire Chief) Presenter: John Tenger, Deputy Fire Chief

FISCAL ANALYSIS
None, Firehouse Subs Public Safety Foundation will fund 100% of the cost for the two Thermal Imaging Cameras. There is no matching portion on this grant award.

PREVIOUS ACTION
In April of 2022, Escondido Fire applied for the grant to replace two new handheld Thermal Imaging Cameras (TIC) to replace older, worn out devices that are facing their end of life.

BACKGROUND
The Firehouse Subs Public Safety Foundation provides grant funds to purchase life-saving equipment for first responders across the country. The foundation is funded by a portion of purchases at all Firehouse Subs stores throughout the nation.

In 2015, the Escondido Fire Department received a grant award in th e amount of $14,175 from the foundation to purchase a battery-operated hydraulic rescue tool. In 2018, the Escondido Fire Department received a grant award in the amount of $14,888 from the foundation to purchase 91 wildland jackets. In April 2020, the Escondido Fire Department received a grant award in the amount of $23,597 from the foundation to purchase three Thermal Imaging Cameras.
25 Item4.

A Thermal Imaging Camera is a device that renders heat and infrared radiation as visible light and allows firefighters to see heat through smoke, darkness and even walls. The devices can quickly identify the location of fire victims in smoke filled rooms or traffic accident victims at night. In addition, fire that is hidden inside walls and ceilings can be quickly pinpoin ted so that firefighters can locate and contain it with minimal damage.

Thermal Imaging Cameras are an important tool that firefighters have used for several decades, but the technology has changed dramatically, especially in the past several years. New TI C’s are more sophisticated, have better image clarity, have longer battery life, and are much smaller and lighter in weight. The new TIC technology that the Firehouse Subs Public Safety Foundation grant award is funding will the Fire Department save lives and reduce property damage.

ATTACHMENTS
a. Attachment “1” – Budget Adjustment
26 Item4.

FM\105 (Rev.11/06)

C I T Y O F E S C O N D I D O

BUDGET ADJUSTMENT REQUEST
Date of Request: July 18, 2022 For Finance Use Only
Log #
Fiscal Year
ear
Department: Fire
Division:

Project/Budget Manager: Laura Costello 5408
Name Extension
Council Date (if applicable): 8/10/22
(attach copy of staff report)
_____ Budget Balances
_____ General Fund Accts
_____ Revenue
_____ Interfund Transfers
_____ Fund Balance
Project/Account Description Account Number Amount of Increase Amount of Decrease Revenue 4121-451-New Project Number 16,147.42
Fire Grants 451-New Project Number 16,147.42
Explanation of Request:

A budget adjustment is needed to spend Firehouse Subs Public Safety Foundation Grant award.

APPROVALS

Department Head Date City Manager Date

Finance Date City Clerk Date
Distribution (after approval): Original: Finance
DocuSign Envelope ID: C9A47981-CABA-467A-A79D-3AB180A0AA0D 7/25/2022
7/25/2022
Attachment "1"
27 Item4.

STAFF REPORT

August 10, 2022
File Number 0490-55

SUBJECT
TREASURER’S INVESTMENT REPORT FOR THE QUARTER ENDED JUNE 30, 2022

DEPARTMENT
City Treasurer

RECOMMENDATION
Request the City Council approve the Quarterly Investment Report for the quarter ended June 30, 2022.

Staff Recommendation: Approve (Douglas Shultz, City Treasurer)

FISCAL ANALYSIS
From April 1, 2022 to June 30, 2022, the City’s investment portfolio increased from $ 194.2 million to $233.4 million. The adjusted average annual yield increased from 0.764 percent to 0.823 percent with the portfolio duration at 2.43. An excess of cash receipt inflows over cash payment outflows for the quarter resulted in an increase of $39.2 million in the book value of the investment portfolio. The City received the second distribution of ARPA funds which accounted for $19.1 million of the $39. 2 million difference in the portfolio.

PREVIOUS ACTION
The Investment Report for the quarter ended March 31, 2021, was filed with the City Clerk’s Office on April 29, 2022 and presented to the City Council on May 11, 2022.

BACKGROUND
The City of Escondido’s (City) Investment Policy requires the City Treasurer to submit a quarterly investment report to the City Council and City Manager. The quarterly investment report should include the type of investment, issuer, date of maturity, par and dollar amount invested and market value for each security held by the City. Details of the Ci ty’s investment portfolio are included in the attached reports that are listed below:
• Summary of Investment Allocation as of June 30, 2022 (Attachment 1) • Summary of Investment Portfolio Yield for the last 12 months (Attachment 2) 28 Item5.

• Schedule of Funds Managed by Outside Parties as of June 30, 2022 (Attachment 3) • PFM’s Investment Performance Review as of June 30, 2022 (Attachment 4) PFM Asset Management Firm was onboarded as the City’s Investment Advisor in May 2019. In their Investment Performance Review (attachment 4) you will find a Market Update, the City’s Portfolio Strategy and Performance, Issuer Distributions, Portfolio Distributions and Portfolio Holdings. The Summary of Investment Allocation (attachment 1) and the Summary of Investment Portfolio Yield for the last 12 months (attachment 2) shows the total investment portfolio including funds in LAIF, CAMP, Stone Castle, and the City’s money market account with BNY.

This was the last quarter that the City of Escondido will have utilized PFM for investment advisory services.

PFM was unable to outperform their benchmark in any material way to justify the fee that PFM charged.

It is estimated that the City will save $90,000/year by not using PFM’s services.

There are adequate funds to meet the next six-month's expected expenditures. As of June 30, 2022, the City complies with all requirements of the City’s Investment Policy.

ATTACHMENTS
a. Attachment 1 – Summary of Investment Allocation as of June 30, 2022 b. Attachment 2 – Summary of Investment Portfolio Yield for the last 12 months c. Attachment 3 – Schedule of Funds Managed by Outside Parties as of June 30, 2022 d. Attachment 4 – Investment Performance Review for the Quarter Ended June 30, 2022 29 Item5.

Attachment 1
Investment Type Market Value
State Investment Pool (LAIF) 30,107,589$ 30,107,589$ 13.25% State Investment Pool (LAIF)- ARPA Funds* 37,342,243 37,342,243 16.43% California Asset Management Program (CAMP) 26,037,987 26,037,987 11.46% Placement Service Deposits (Stone Castle) 5,250,409 5,250,409 2.31% U.S. Treasury Obligations 74,467,866 70,958,135 31.22%
Federal Agency Securities 10,581,506 10,037,248 4.42%
Supranational Securities 3,057,058 2,893,953 1.27%
U.S. Corporate Bonds 28,061,349 26,915,420 11.84%
U.S. Municipal Bonds 9,513,810 9,043,981 3.98%
Negotiable Certificates of Deposit 1,205,000 1,191,723 0.52% Asset-Backed Security 7,308,468 7,068,261 3.11%
Money Market Account (BNY Blackrock) 451,567 451,567 0.20% Total Investment Portfolio - June 2022 233,384,852$ 227,298,517$ 100% Reported Total Investments - March 2022 194,195,996$ 189,528,638$ Change from Prior Quarter 39,188,856$ 37,769,879$
Portfolio Duration 2.43
*Includes second distribution of ARPA funds that were received by the City on 06/30/2022 and moved into LAIF in July.

City of Escondido
Summary of Investment Allocation
as of June 30, 2022
Book Value
Percent of
Portfolio at
Market
13%
17%
12%
2%31%
4%
1%
12%
4% 1% 3%
Summary of Investment Allocation as of June 30, 2022
State Investment Pool (LAIF)
State Investment Pool (LAIF)- ARPA Funds*
California Asset Management Program (CAMP)
Placement Service Deposits (Stone Castle)
U.S. Treasury Obligations
Federal Agency Securities
Supranational Securities
U.S. Corporate Bonds
U.S. Municipal Bonds
Negotiable Certificates of Deposit
Asset-Backed Security
Money Market Account (BNY Blackrock)
30 Item5.

Attachment 2
Date Book Value Yield
Jun-22 $213,980,597.55 1.131%
May-22 $191,942,743.12 1.059%
Apr-22 $198,799,776.19 0.915%
Mar-22 $194,195,995.42 0.862%
Feb-22 $195,493,163.15 0.817%
Jan-22 $203,430,713.46 0.756%
Dec-21 $195,823,370.83 0.755%
Nov-21 $192,786,704.93 0.762%
Oct-21 $196,151,361.13 0.683%
Sep-21 $195,998,026.11 0.696%
Aug-21 $187,820,654.45 0.727%
Jul-21 $193,141,091.46 0.707%
Average Portfolio Interest Yields 0.823%
* Includes Assets managed by PFM, LAIF, and Stone Castle.

SUMMARY OF INVESTMENT PORTFOLIO YIELDS
FOR THE LAST 12 MONTHS
As of June 30, 2022
31 Item5.

Attachment 3

CITY OF ESCONDIDO

FUNDS MANAGED BY OUTSIDE PARTIES
As of June 30, 2022
Market Interest Type of
Type of Funds / Institution Value Rate Investment

BOND FUNDS
BANK OF NEW YORK:
1998-1 Rancho San Pasqual Assessment District 353,830.71$ 1.250% Treasury 2013 JPFA Reidy Creek Lease Revenue Bonds (2001 Refunding) 1.47 0.680% Treasury 2013 Community Facility District - Hidden Trails (2001 Refunding) 1.01 0.000% Treasury 2015 Community Facility District - Eureka Ranch (2006 Refunding) 113.79 0.000% Cash/Treasury 2015A Wastewater Bond (2004A Refunding) 640,534.07 1.340% Dreyfus Cash Management Fund 2015B Wastewater Bond (2004B Refunding) 237,698.25 1.340% Dreyfus Cash Management Fund 2019 Water Bond (JPFA 19AB) 5.23 1.300% Dreyfus Cash Management Fund 2021A WasteWater Ref Rev 8,375.41 0.000% Dreyfus Cash Management Fund 1,232,184.53$
SECTION 115 TRUST FUNDS
PUBLIC AGENCY RETIREMENT SERVICES:

PARS Post-Employment Benefits Trust $23,667,371.73 Moderately Conservative HighMark PLUS TOTAL FUNDS MANAGED BY OUTSIDE PARTIES $24,899,556.26
32 Item5.

Investment Performance Review
For the Quarter Ended June 30, 2022
Client Management Team PFM Asset Management LLC
Sarah Meacham, Managing Director
Robert Cheddar, CFA, Managing Director
Meredith LaBuda Sullivan, Senior Portfolio Manager
Richard Babbe, CCM, Senior Managing Consultant
Jeremy King, Key Account Manager
213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
633 W 5th St., 25th Floor
Los Angeles, CA 90071
213-415-1699
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public City of Escondido
33 Item5.
© PFM Asset Management LLC pfmam.com |
Market Update
34 Item5.

For the Quarter Ended June 30, 2022
Fixed Income Management QUARTERLY MARKET SUMMARY
Summary
► In Q2, U.S. economic conditions were characterized by: (1) persistently high inflation; (2) declining consumer sentiment; (3) slowing economic growth and increasing recession probabilities; (4) more aggressive Federal Reserve (Fed) monetary policy tightening; (5) rising yields and decade-high mortgage rates; and (6) elevated volatility and risk-off sentiment in credit and equity markets. ► The first half of 2022 was one of the most difficult investment environments in the past 40 years due to the pace of interest rate increases and the resulting simultaneous weakness in both bond and stock market returns. As we enter the second half of the year, many of the first half’s significant headwinds are still in place: high inflation, tighter Fed monetary policy, rising rates, wider credit spreads, slowing growth and lingering geopolitical turmoil.
► The focus of headlines on inflation remains very high, with the Consumer Price Index increasing 9.1% year-over-year (YoY) through June, the largest 12-month increase since December 1981. Numerous factors have driven this inflation: gasoline prices surged nearly 60%, shelter costs rose 5.6%, food was up 10.4%, while new and used cars rose 9% over that span. Some of these price pressures resulted from surging input costs for oil, industrial metals and agricultural products, exacerbated by Russia’s ongoing invasion of Ukraine. But, more recently, many commodity prices have fallen substantially. For example, lumber, copper, aluminum, steel, cattle and coffee prices are now down on a year-to-date basis.
► As a result of surging inflation, the Fed lifted the overnight federal funds target rate three times in the first half of 2022, in March, May and June. The last hike was by three quarters of a percentage point (0.75%) to a new range of 1.5% to 1.75%, the largest hike since 1994. The market now expects short-term rates to reach 3.25% to

3.75% by year-end. In addition, the Fed kicked off its plan to reduce its balance sheet holdings of Treasuries and agency-backed mortgage securities through monthly runoff of maturities and principal payments.

Economic Snapshot
► U.S. economic real growth (inflation-adjusted) declined at an annual pace of 1.6% in Q1 2022, a big disappointment. The drop was a sharp reversal from the 6.9% increase in Q4. It resulted from decreases in exports, federal government spending, private inventory investment, and state and local government spending, while imports, which are a subtraction in the calculation of GDP, increased. The economy has downshifted from its torrid pace of 2021 as federal stimulus programs ended and rampant inflation cut into consumer spending habits and corporate profits. Economists’ estimates for future GDP reflect expectations for growth to normalize in the future, with projections for the full calendar year 2022 at 2.1% and 2023 at 1.5%. ► The U.S. labor market remains a tailwind as the economy added 2.7 million new jobs this year. The unemployment rate remained at 3.6%, while wage growth remained elevated and job openings remained plentiful. Despite this apparent strength, job gains have begun to moderate, and the level of new weekly jobless claims has increased noticeably, indicating a possible sea change.
► Household spending has also adapted to rising food and energy costs. The share of disposable income going towards non-discretionary items such as food, energy, debt service and rent broke a decade-long downtrend and is now rising quickly. Largely due to pain at the pump and grocery check-out counter, measures of consumer sentiment nosedived. The Conference Board Consumer Confidence Index dipped below 100 for the first in over a year, while the University of Michigan Consumer Sentiment Index reached an all-time low in June.
► Increasing inventories and a falling mortgage affordability index led to a sharp decline in home sales. Sales of both new and existing homes sales declined. On the manufacturing front, indices of activity posted a decline and moved toward their lowest levels in nearly two years, although still in expansionary territory. Automobile sales in June were down nearly 15%
YoY.

Interest Rates
► U.S. Treasury yields rose sharply in Q2. By the end of the quarter, the yield on a 3-month U.S. Treasury Bill stood at 1.67% (up 1.17% over the quarter), the 2-year note was 2.96% (up 0.62%), the 5-year note was 3.04% (up 0.58%), the 10-year note was

3.02% (up 0.68%) and the 30-year ended the quarter at 3.19% (up 0.74%). ► As a result of rapidly increasing Treasury yields, fixed income indices posted large negative total returns. The ICE BofA 2-, 5-, and 10-year U.S. Treasury indices returned -0.50%, -2.05%, and -4.92%, respectively. Underscoring the recent historic underperformance of U.S. Treasuries, from peak to trough (August 3, 2020, to June 14, 2022), the 10-year Treasury Index lost -17%.

Sector Performance
► Diversification in securities other than U.S. Treasury securities generally detracted from performance as few sectors were immune to risk-off sentiment and wider yield spreads. The exceptions were shorter-duration municipals and federal agency securities with maturities inside five years.
► Despite relatively stable fundamentals and a favorable upgrade/downgrade ratio, wider spreads on investment-grade (IG) corporates generated notably negative excess returns. Quickly tightening financial conditions and an increasing repricing of recession risks were the primary culprits. After rapidly retracing to close Q1, IG corporate spreads slowly and steadily increased throughout Q2, finishing at their widest level in two years.

For the second consecutive quarter, lower quality and longer duration corporates underperformed their higher quality and shorter duration counterparts. ► Like corporates, AAA-rated asset-backed securities fundamentals remain strong, however growing economic growth concerns pushed spreads wider over the quarter.

Historically, spreads in the sector remain elevated and appear attractive. The result of wider spreads was negative excess returns from the sector regardless of type, although credit card collateral outperformed auto loan-backed issues. ► Mortgage-backed securities (MBS) continued the trend of underperformance, finishing the worst start to a year in several decades. The looming acceleration of Fed balance sheet reduction of its MBS holdings has weighed on the sector for the better part of the year. Refinancing activity has plummeted and MBS durations have extended noticeably due to decade-high mortgage rates, further pressuring performance in the sector. Only the highest coupon MBS avoided sharply negative excess returns.

PFM Asset Management LLC | For Institutional Investor or Investment Professional Use Only – This material is not for inspection by, distribution to, or quotation to the general public. 1 35
Item5.

For the Quarter Ended June 30, 2022
Fixed Income Management QUARTERLY MARKET SUMMARY
Economic Snapshot
Labor Market Mar '22 Jun '21
Unemployment Rate Jun'22 3.6% 3.6% 5.9%
Change In Non-Farm Payrolls Jun'22 372,000 398,000 557,000 Average Hourly Earnings (YoY) Jun'22 5.1% 5.6% 4.0%
Personal Income (YoY) May'22 5.3% -11.4% 3.1%
Initial Jobless Claims (week) 7/2/22 235,000 171,000 405,000 Growth
Real GDP (QoQ SAAR) 2022Q1 -1.6% 6.9% 6.3%
GDP Personal Consumption (QoQ SAAR) 2022Q1 1.8% 2.5% 11.4% Retail Sales (YoY) May'22 8.1% 7.1% 19.4%
ISM Manufacturing Survey (month) Jun'22 53.0 57.1 60.9
Existing Home Sales SAAR (month) May'22 5.41 mil. 5.75 mil. 5.97 mil.

Inflation / Prices
Personal Consumption Expenditures (YoY) May'22 6.3% 6.6% 4.0% Consumer Price Index (YoY) May'22 8.6% 8.5% 5.4%
Consumer Price Index Core (YoY) May'22 6.0% 6.5% 4.5%
Crude Oil Futures (WTI, per barrel) Jun 30 $105.76 $100.28 $73.47 Gold Futures (oz.) Jun 30 $1,807 $1,949 $1,772
Latest
25-000K
20-000K
15-000K
10-000K
5-000K
0 5,000K
10,000K

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%
Jun '19 Dec '19 Jun '20 Dec '20 Jun '21 Dec '21 Jun '22 Unemployment Rate (left) vs. Change in Nonfarm Payrolls (right) Change In Non-Farm Payrolls Unemployment Rate
- 40%
- 30%
- 20%
- 10%
0%
10%
20%
30%
40%
Mar '19 Sep '19 Mar '20 Sep '20 Mar '21 Sep '21 Mar '22 Real GDP (QoQ)
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
May '19 Nov '19 May '20 Nov '20 May '21 Nov '21 May '22 Consumer Price Index
CPI (YoY) Core CPI (YoY)
2 2
1 1

1. Data as of Fourth Quarter 2021.

2. Data as of First Quarter 2021.

Note:

YoY = year-over-year, QoQ = quarter-over-quarter, SAAR = seasonally adjusted annual rate, WTI = West Texas Intermediate crude oil.

Source: Bloomberg.

PFM Asset Management LLC | For Institutional Investor or Investment Professional Use Only – This material is not for inspection by, distribution to, or quotation to the general public. 2 36
Item5.

For the Quarter Ended June 30, 2022
Fixed Income Management QUARTERLY MARKET SUMMARY
Source: Bloomberg.

Interest Rate Overview
U.S. Treasury Note Yields U.S. Treasury Yield Curve
U.S. Treasury Yields Yield Curves as of 06/30/2022
0%
1%
2%
3%
4%
3-mo
1-yr
2-yr
3-yr
5-yr
7-yr
10-yr
20-yr
30-yr
Yield
Maturity
June 30, 2022 March 31, 2022 June 30, 2021
0%
1%
2%
3%
4%
5%
3-mo
1-yr
2-yr
3-yr
5-yr
0 7-yr
10-yr
25-yr
30-yr
Yield
Maturity
U.S. Treasury Federal Agency Corporates, A Rated

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%
6/30/21 9/30/21 12/31/21 3/31/22 6/30/22
Yield
2-Year 5-Year 10-Year
Maturity Jun '22 Mar '22 Change over
Quarter Jun '21 Change over
Year
3-Month 1.67% 0.50% 1.17% 0.04% 1.63%
1-Year 2.78% 1.61% 1.17% 0.07% 2.71%
2-Year 2.96% 2.34% 0.62% 0.25% 2.71%
5-Year 3.04% 2.46% 0.58% 0.89% 2.15%
10-Year 3.02% 2.34% 0.68% 1.47% 1.55%
30-Year 3.19% 2.45% 0.74% 2.09% 1.10%
PFM Asset Management LLC | For Institutional Investor or Investment Professional Use Only – This material is not for inspection by, distribution to, or quotation to the general public. 3 37
Item5.

For the Quarter Ended June 30, 2022
Fixed Income Management QUARTERLY MARKET SUMMARY
June 30, 2022 Duration Yield 3 Month 1 Year 3 Years
1-3 Year Indices
U.S. Treasury 1.85 2.95% (0.50%) (3.30%) 0.24%
Federal Agency 1.79 2.95% (0.58%) (3.25%) 0.16%
U.S. Corporates, A-AAA rated 1.95 3.70% (0.91%) (3.74%) 0.66% Agency MBS (0 to 3 years) 2.14 3.14% (0.35%) (4.43%) (0.09%) Taxable Municipals 1.82 3.30% (0.29%) (2.64%) 1.78%
1-5 Year Indices
U.S. Treasury 2.58 2.98% (0.81%) (4.61%) 0.04%
Federal Agency 2.34 3.00% (0.90%) (4.53%) (0.14%)
U.S. Corporates, A-AAA rated 2.76 3.86% (1.66%) (5.82%) 0.39% Agency MBS (0 to 5 years) 2.98 3.32% (1.67%) (5.87%) (0.55%) Taxable Municipals 2.66 3.47% (0.64%) (4.15%) 0.95%
Master Indices (Maturities 1 Year or Greater)
U.S. Treasury 6.67 3.06% (3.85%) (8.91%) (0.85%)
Federal Agency 3.77 3.12% (1.98%) (6.49%) (0.11%)
U.S. Corporates, A-AAA rated 7.38 4.28% (6.10%) (12.90%) (0.88%) Agency MBS (0 to 30 years) 6.19 3.66% (3.91%) (9.10%) (1.42%) Taxable Municipals 9.99 4.40% (7.05%) (14.94%) (0.52%)
Source: ICE BofAML Indices.

As of 06/30/2022 Returns for Periods ended 06/30/2022
Returns for periods greater than one year are annualized.

PFM Asset Management LLC | For Institutional Investor or Investment Professional Use Only – This material is not for inspection by, distribution to, or quotation to the general public.

ICE BofAML Index Returns
4 38
Item5.

For the Quarter Ended June 30, 2022
Fixed Income Management QUARTERLY MARKET SUMMARY
Disclosures
PFM Asset Management LLC (“PFMAM”) is an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. (“USBAM”). USBAM is a subsidiary of U.S. Bank National Association (“U.S. Bank”). U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S.

Bank is not responsible for and does not guarantee the products, services or performance of PFMAM.

The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution and are subject to change.

Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its accuracy, completeness, or suitability. The information contained in this report is not an offer to purchase or sell any securities.

NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
Further distribution is not permitted without prior written consent.

PFM Asset Management LLC | For Institutional Investor or Investment Professional Use Only – This material is not for inspection by, distribution to, or quotation to the general public. 5 39
Item5.
© PFM Asset Management LLC pfmam.com|
Portfolio Review
40 Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Portfolio Snapshot
|
Yield and duration calculations exclude cash and cash equivalents. Sector allocation includes market values and accrued interests.

The portfolio’s benchmark is the ICE BofAML 1-5 Year U.S. Treasury Index. Source: Bloomberg.

An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.

1. Portfolio Snapshot¹
Credit Quality - S&P
10%
31%
25% 24%
10%
2%
35%
28%
20%
15%
0%
10%
20%
30%
40%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 55%
Corporate | 21%
Municipal | 7%
Federal Agency | 6%
ABS | 6%
Supranational | 2%
Agency CMBS | 2%
Negotiable CD | 1%
FDIC CD | <1%
Sector Allocation
AAA | 8%
AA+ | 65%
AA | 3%
AA- | 1%
A+ | 4%
A | 5%
A- | 7%
A-1 | 1%
BBB+ | 3%
Not Rated | 3%
Portfolio Statistics
Portfolio Effective Duration 2 .43 years
Benchmark Effective Duration 2.52 years
Portfolio Credit Quality AA
Yield At Market 3.11%
Yield At Cost 1.25%
Total Market Value $129,011,216.40
$128,108,721.97Securities Sub-Total
$451,568.03Cash
$450,926.40Accrued Interest
6 41
Item5.

PFM Asset Management LLC
For the Quarter Ended June 30, 2022
MarketUpdate
For the Quarter Ended June 30, 2022
Account Summary
© PFM Asset Management LLC | pfmam.com
Sector Allocation Analytics
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest. *Sector Limit for Analysis is as derived from our interpretation of your most recent Investment
Policy as provided. PFMAM managed funds only. Excludes balances in money market funds.

5.5%

0.9%

21.1%

7.1%

2.3%

1.9%

5.9%

55.3%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Asset-Backed - $7,071,761
Negotiable CD - $1,194,594
Corporate - $27,096,030
Municipal - $9,093,410
Supranational - $2,900,550
Agency CMBS - $2,419,621
Agency - $7,647,331
Treasury - $71,136,351
Portfolio Allocation Sector Limits for Analysis

CITY OF ESCONDIDO
7 42
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Compliance
|
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM").

Certificate of Compliance
During the reporting period for the quarter ended June 30, 2022, the account(s) managed by PFM Asset Management ("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged :PFM Asset Management LLC
8 43
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Portfolio Activity
|
Portfolio Activity
Net Activity by Sector
($ millions)
Supranational
Negotiable CD
Federal Agency

FDIC CD
Agency CMBS
Corporate
ABS
U.S. Treasury
Supranational
N
egotiable CD
Federal Agency

FDIC CD
Agency CMBS
Corporate
ABS
U.S. Treasury
($4.0) ($2.0) $0.0 $2.0 $4.0 $6.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.

Sector Net Activity
U.S. Treasury $4,351,833
ABS $853,592
Corporate $838,202
Agency CMBS $704,543
FDIC CD ($495,803)
Federal Agency ($1,397,270)
Negotiable CD ($1,644,900)
Supranational ($3,091,388)
$118,811Total Net Activity
Sales/Maturities Purchases
9 44
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Portfolio Characteristics
|
Historical Sector Allocation
Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. 52%
7%
1%
5%
7%
1%2%
21%
5%
Mar-22
55%
6%
2%2%
7%
1%
21%
6%
Jun-22
10 45
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Portfolio Performance
|
The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is June 30, 2019.1.

Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.

Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.3.

The portfolio’s benchmark is the ICE BofAML 1-5 Year U.S. Treasury Index. Source: Bloomberg.4. -5.0%
-4.0%
-3.0%
-2.0%
-1.0%

0.0%

1.0%
Return
Portfolio Benchmark
Portfolio Performance
Market Value Basis Earnings 3 Months 1 Year 3 Years Since Inception¹ Interest Earned² $4 62,862 $1,693,693 $5,188,180 $5,188,180 Change in Market Value ($1,586,768) ($7,773,682) ($6,217,151) ($6,217,151) ($1,123,906)Total Dollar Return ($6,079,989) ($1,028,971) ($1,028,971) Total Return³
Portfolio -0.86% -4.54% 0.36% 0.36%
Benchmark⁴ -0.81% -4.61% 0.04% 0.04%
3 Months 1 Year 3 Years Since Inception
Difference -0.05% 0.06% 0.32% 0.32%
11 46
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Portfolio Performance
|
Performance on trade-date basis, gross (i.e., before fees), in accordance with the CFA Institute’s Global Investment Performance Standards (GIPS).1.

Income returns calculated as interest earned on investments during the period.2.

Price returns calculated as the change in market value of each security for the period.3.

Returns are presented on a periodic basis.4.

Quarterly Sector Performance
Total Return by Sector Co ntribution to Total Return
Cash
ABS
Corporate
Negotiable CD

FDIC CD
Municipal
S
upranational
Agency CMBS
Federal Agency
U.S. Treasury
-1.00%
-0.80%
-0.60%
-0.40%
-0.20%

0.25%

0.62%

0.24%

0.56%

0.36%
0 .16%

0.76%

0.24%

0.28%

0.00%
-0.92%
-1.94%
-0.55%
-0.68%
-0.89%
-

0.61%
-1.38%
-1.01%
-1.12%
-4.0% -2.6% -1.2% 0.2% 1.6% 3.0%
Return
12 47
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Portfolio Performance
|
The lesser of 10 years or since inception is shown. Performance inception date is June 30, 2019.1.

Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.

Realized gains / (losses) are shown on an amortized cost basis.3.

Accrual Basis Earnings
Accrual Basis Earnings
Interest Earned²
Rea
lized Gains / (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
$462,862
($8
4,287)
($84,857)
$293,718
1 Year
$1,693,693
($1
3,352)
($350,975)
$1,329,366
3 Years
$5,188,180
$1,
188,412
($865,557)
$5,511,036
Since Inception¹
$5,188,180
$1,
188,412
($865,557)
$5,511,036
13 48
Item5.
© PFM Asset Management LLC | pfmam.com
Issuer Distribution
49 Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Portfolio Summary
|
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings, excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances invested in overnight funds.

Issuer Diversification
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer U.S. Treasury 55.3%
UNITED STATES TREASURY 55.3% AA / Aaa / AAA
Federal Agency 5.9%
FANNIE MAE 4.1% AA / Aaa / AAA
FREDDIE MAC 1.8% AA / Aaa / AAA
Agency CMBS 1.9%
FANNIE MAE 0.4% AA / Aaa / AAA
FREDDIE MAC 1.5% AA / Aaa / AAA
Supranational 2.3%
INTER-AMERICAN DEVELOPMENT BANK 1.8% AAA / Aaa / AAA
INTL BANK OF RECONSTRUCTION AND DEV 0.5% AAA / Aaa / AAA Municipal 7.1%
CITY & COUNTY OF SAN FRANCISCO 0.6% NR / NR / AA
FLORIDA STATE BOARD OF ADMIN FIN CORP 0.5% AA / Aa / AA

LONG BEACH COMMUNITY COLLEGE

DISTRICT

0.3% AA / Aa / NR

LOS ANGELES COMMUNITY COLLEGE

DISTRICT

0.3% AA / Aaa / NR
LOS ANGELES UNIFIED SCHOOL DISTRICT 0.2% NR / Aa / AA
NEW YORK ST URBAN DEVELOPMENT CORP 0.7% AA / NR / AA
PALOMAR COMMMUNITY COLLEGE DISTRICT 0.3% AA / Aa / NR
SAN DIEGO COMMUNITY COLLEGE DISTRICT 0.2% AAA / Aaa / NR SAN DIEGO COUNTY WATER AUTHORITY 0.4% AAA / Aa / AA
SAN JUAN UNIFIED SCHOOL DISTRICT 0.3% NR / Aa / NR

SAN RAMON VALLEY UNIFIED SCHOOL

DISTRICT

0.3% AA / Aa / NR
STATE OF CONNECTICUT 0.6% A / Aa / AA
STATE OF MARYLAND 0.3% AAA / Aaa / AAA
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Municipal 7.1%
STATE OF MINNESOTA 0.2% AAA / Aa / AAA
STATE OF MISSISSIPPI 0.1% AA / Aa / AA
STATE OF WISCONSIN 0.5% AAA / NR / AA
TAMALPAIS UNION HIGH SCHOOL DISTRICT 0.5% NR / Aaa / NR UNIVERSITY OF CALIFORNIA 0.3% AA / Aa / AA

VENTURA COUNTY COMM COLLEGE

DISTRICT

0.6% AA / Aa / NR
FDIC CD 0.4%
BENEFICIAL BANK 0.2% NR / NR / NR
FOCUS BANK 0.2% NR / NR / NR
Negotiable CD 0.5%
CREDIT SUISSE GROUP RK 0.5% A / Aa / A
Corporate 21.1%
ABBOTT LABORATORIES 0.6% AA / A / NR
AMAZON.COM INC 0.2% AA / A / AA
AMERICAN EXPRESS CO 0.9% BBB / A / A
AMERICAN HONDA FINANCE 0.7% A / A / A
ASTRAZENECA PLC 0.5% A / A / NR
BANK OF AMERICA CO 1.1% A / A / AA
BMW FINANCIAL SERVICES NA LLC 0.6% A / A / NR
BRISTOL-MYERS SQUIBB CO 0.4% A / A / NR
CATERPILLAR INC 1.2% A / A / A
CHARLES SCHWAB 0.6% A / A / A
CHEVRON CORPORATION 0.5% AA / Aa / NR
CITIGROUP INC 0.6% BBB / A / A
COMCAST CORP 0.5% A / A / A
14 50
Item5.
© PFM Asset Management LLC pfmam.com

Issuer Diversification
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Corporate 21.1%
DEERE & COMPANY 0.6% A / A / A
GENERAL DYNAMICS CORP 0.5% A / A / NR
GOLDMAN SACHS GROUP INC 0.8% BBB / A / A
HOME DEPOT INC 0.1% A / A / A
HONEYWELL INTERNATIONAL 0.5% A / A / A
IBM CORP 0.7% A / A / NR
JP MORGAN CHASE & CO 1.0% A / A / AA
MORGAN STANLEY 0.8% A / A / A

NATIONAL RURAL UTILITIES CO FINANCE
CORP

0.2% A / A / A
NORTHERN TRUST 0.5% A / A / A
PACCAR FINANCIAL CORP 0.3% A / A / NR
PNC FINANCIAL SERVICES GROUP 0.5% A / A / A
Roche Holding AG 1.0% AA / Aa / AA
TARGET CORP 0.6% A / A / A

THE BANK OF NEW YORK MELLON

CORPORATION

1.2% A / A / AA
THE WALT DISNEY CORPORATION 0.6% BBB / A / A
TOYOTA MOTOR CORP 0.8% A / A / A
TRUIST FIN CORP 0.6% A / A / A
UNILEVER PLC 0.1% A / A / A
UNITEDHEALTH GROUP INC 0.5% A / A / A
US BANCORP 0.6% A / A / A
ABS 5.5%
BMW FINANCIAL SERVICES NA LLC 0.1% AAA / Aaa / NR
BMW VEHICLE OWNER TRUST 0.3% AAA / Aaa / NR
CAPITAL ONE FINANCIAL CORP 0.5% AAA / NR / AAA
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer ABS 5.5%
CARMAX AUTO OWNER TRUST 0.9% AAA / Aaa / AAA
DISCOVER FINANCIAL SERVICES 0.6% NR / Aaa / AAA
FORD CREDIT AUTO OWNER TRUST 0.2% AAA / NR / AAA

GM FINANCIAL CONSUMER AUTOMOBILE
TRUST

0.4% AAA / Aaa / AAA
GM FINANCIAL LEASINGTRUST 0.2% AAA / NR / AAA
HONDA AUTO RECEIVABLES 0.4% AAA / Aaa / AAA

HYUNDAI AUTO LEASE SECURITIZATION
TRUST

0.1% AAA / Aaa / NR
HYUNDAI AUTO RECEIVABLES 0.7% AAA / NR / AAA
KUBOTA CREDIT OWNER TRUST 0.4% NR / Aaa / AAA
MERCEDES-BENZ AUTO LEASE TRUST 0.1% AAA / NR / AAA
NISSAN AUTO LEASE TRUST 0.1% AAA / Aaa / NR
Toyota Lease Owner Trust 0.2% AAA / Aaa / NR
TOYOTA MOTOR CORP 0.1% AAA / Aaa / NR
WORLD OMNI AUTO REC TRUST 0.3% AAA / NR / AAA
100.0%Total
15 51
Item5.
© PFM Asset Management LLC | pfmam.com
Portfolio Transactions
52 Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
BUY
4/1/2022 4/5/2022 360,000.00 91282CCJ8 US TREASURY N/B NOTES 0.87% 6/30/2026 335,514.16 2.64% 4/19/2022 4/26/2022 1,000,000.00 06406RBC0 BANK OF NY MELLON CORP (CALLABLE) CORP N 3.35% 4/25/2025 999,860.00 3.35% 4/27/2022 5/4/2022 220,000.00 63743HFE7 NATIONAL RURAL UTIL COOP CORPORATE NOTES 3.45% 6/15/2025 219,940.60 3.46% 5/2/2022 5/4/2022 1,900,000.00 9128282A7 US TREASURY NOTES 1.50% 8/15/2026 1,791,027.60 3.02% 5/2/2022 5/4/2022 1,175,000.00 91282CDZ1 US TREASURY N/B NOTES 1.50% 2/15/2025 1,134,092.57 2.93% 5/10/2022 5/12/2022 670,000.00 665859AW4 NORTHERN TRUST CORP NOTE (CALLABLE) 4.00% 5/10/2027 676,621.09 3.79% 5/10/2022 5/18/2022 380,000.00 05602RAD3 BMWOT 2022-A A3 3.21% 8/25/2026 379,980.24 3.21% 5/17/2022 5/20/2022 200,000.00 91324PEG3 UNITEDHEALTH GROUP INC CORPORATE NOTES 3.70% 5/15/2027 199,892.00 3.71% 5/19/2022 5/26/2022 715,000.00 254683CS2 DCENT 2022-A2 A 3.32% 5/17/2027 714,941.87 3.32% 5/25/2022 5/31/2022 860,707.19 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 864,047.99 3.00% 6/2/2022 6/6/2022 1,160,000.00 912828V98 US TREASURY NOTES 2.25% 2/15/2027 1,133,067.10 2.94% 6/2/2022 6/6/2022 800,000.00 91282CER8 US TREASURY N/B NOTES 2.50% 5/31/2024 798,015.37 2.65% 6/2/2022 6/6/2022 440,000.00 91324PEG3 UNITEDHEALTH GROUP INC CORPORATE NOTES 3.70% 5/15/2027 444,313.96 3.52% Total BUY 9,880,707.19 9,691,314.55 0.00

INTEREST
4/1/2022 4/25/2022 665,000.00 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 1,696.86 4/1/2022 4/25/2022 161,294.35 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 328.62 16 53
Item5.
© PFM Asset Management LLC pfmam.com

INTEREST
4/1/2022 4/25/2022 400,000.00 3137BTU25 FHMS K724 A2 3.06% 11/1/2023 1,020.67 4/1/2022 4/25/2022 440,240.59 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,445.42 4/1/2022 4/25/2022 59,120.49 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 103.07 4/4/2022 4/4/2022 MONEY0002 MONEY MARKET FUND 1.18
4/9/2022 4/9/2022 575,000.00 05565EBK0 BMW US CAPITAL LLC CORP NOTES (CALLABLE) 3.90% 4/9/2025 11,212.50 4/15/2022 4/15/2022 4,350,000.00 91282CBV2 US TREASURY N/B NOTES 0.37% 4/15/2024 8,156.25 4/15/2022 4/15/2022 90,000.00 58769EAC2 MBALT 2020-B A3 0.40% 11/15/2023 30.00 4/15/2022 4/15/2022 120,000.00 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 34.00 4/15/2022 4/15/2022 635,000.00 20030NCR0 COMCAST CORP (CALLABLE) CORPORATE NOTES 3.70% 4/15/2024 11,747.50 4/15/2022 4/15/2022 220,000.00 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 69.67 4/15/2022 4/15/2022 370,000.00 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 172.67 4/15/2022 4/15/2022 300,000.00 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 130.00 4/15/2022 4/15/2022 715,000.00 14041NFY2 COMET 2021-A3 A3 1.04% 11/16/2026 619.67 4/15/2022 4/15/2022 249,294.02 89237VAB5 TAOT 2020-C A3 0.44% 10/15/2024 91.41 4/15/2022 4/15/2022 140,000.00 44891TAD8 HALST 2021-A A4 0.42% 12/16/2024 49.00 4/15/2022 4/15/2022 720,000.00 448977AD0 HART 2022-A A3 2.22% 10/15/2026 1,287.60 4/15/2022 4/15/2022 255,000.00 345286AC2 FORDO 2022-A A3 1.29% 6/15/2026 274.13 17 54
Item5.
© PFM Asset Management LLC pfmam.com

INTEREST
4/15/2022 4/15/2022 217,376.81 65480EAD3 NALT 2020-B A3 0.43% 10/16/2023 77.89 4/15/2022 4/15/2022 610,000.00 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 279.58 4/15/2022 4/15/2022 350,000.00 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 236.25 4/15/2022 4/15/2022 175,573.16 14315FAD9 CARMX 2020-3 A3 0.62% 3/17/2025 90.71 4/15/2022 4/15/2022 155,000.00 50117TAC5 KCOT 2021-1A A3 0.62% 8/15/2025 80.08 4/16/2022 4/16/2022 285,000.00 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 299.25 4/16/2022 4/16/2022 273,180.81 362590AC5 GMCAR 2020-3 A3 0.45% 4/16/2025 102.44 4/18/2022 4/18/2022 1,090,000.00 89236TDK8 TOYOTA MOTOR CREDIT CORP CORP NOTES 2.25% 10/18/2023 12,262.50 4/18/2022 4/18/2022 305,000.00 43815EAC8 HAROT 2021-3 A3 0.41% 11/18/2025 104.21 4/18/2022 4/18/2022 245,000.00 08173QBX3 BENEFICIAL BANK CD 2.15% 10/18/2022 2,626.53 4/20/2022 4/20/2022 660,000.00 3137EAEQ8 FREDDIE MAC NOTES 0.37% 4/20/2023 1,237.50 4/20/2022 4/20/2022 235,000.00 89238EAC0 TLOT 2021-A A3 0.39% 4/22/2024 76.38 4/20/2022 4/20/2022 459058JV6 INTL BK OF RECON AND DEV NOTE 0.12% 4/20/2023 1,732.50 4/20/2022 4/20/2022 225,000.00 36262XAD6 GMALT 2021-3 A4 0.50% 7/21/2025 93.75 4/21/2022 4/21/2022 285,000.00 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 209.00 4/25/2022 4/25/2022 160,000.00 05591RAD6 BMWLT 2021-1 A4 0.37% 7/25/2024 49.33 4/28/2022 4/28/2022 1,410,000.00 06406RAG2 BANK OF NY MELLON CORP NOTES 3.50% 4/28/2023 24,675.00 18 55
Item5.
© PFM Asset Management LLC pfmam.com

INTEREST
4/29/2022 4/29/2022 745,000.00 61746BDQ6 MORGAN STANLEY CORP NOTES 3.87% 4/29/2024 14,434.38 4/30/2022 4/30/2022 5,900,000.00 91282CDG3 US TREASURY N/B NOTES 1.12% 10/31/2026 33,187.50 4/30/2022 4/30/2022 635,000.00 912828YM6 US TREASURY NOTES 1.50% 10/31/2024 4,762.50 4/30/2022 4/30/2022 3,375,000.00 912828ZL7 US TREASURY NOTES 0.37% 4/30/2025 6,328.13 4/30/2022 4/30/2022 2,350,000.00 91282CDD0 US TREASURY N/B NOTES 0.37% 10/31/2023 4,406.25 4/30/2022 4/30/2022 4,800,000.00 912828R28 US TREASURY NOTES 1.62% 4/30/2023 39,000.00 4/30/2022 4/30/2022 50,000.00 9128284L1 US TREASURY NOTES 2.75% 4/30/2023 687.50 5/1/2022 5/1/2022 120,000.00 605581MZ7 MS ST TXBL GO BONDS 0.56% 11/1/2024 339.00 5/1/2022 5/1/2022 480,000.00 797412DM2 SAN DEIGO CNTY WTR AUTH, CA TXBL REV BON 0.74% 5/1/2025 1,783.20 5/1/2022 5/1/2022 600,000.00 693475AY1 PNC BANK NA CORP NOTES (CALLABLE) 2.20% 11/1/2024 6,600.00 5/1/2022 5/1/2022 525,000.00 172967MX6 CITIGROUP INC (CALLABLE) CORPORATE NOTES 0.98% 5/1/2025 2,575.13 5/1/2022 5/25/2022 58,888.29 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 131.04 5/1/2022 5/25/2022 414,071.85 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,405.82 5/1/2022 5/25/2022 400,000.00 3137BTU25 FHMS K724 A2 3.06% 11/1/2023 1,020.67 5/1/2022 5/25/2022 144,044.45 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 278.14 5/1/2022 5/25/2022 665,000.00 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 1,696.86 5/3/2022 5/3/2022 MONEY0002 MONEY MARKET FUND 0.82
19 56
Item5.
© PFM Asset Management LLC pfmam.com

INTEREST
5/5/2022 5/5/2022 760,000.00 3137EAER6 FREDDIE MAC NOTES 0.37% 5/5/2023 1,425.00 5/7/2022 5/7/2022 1,485,000.00 3135G06G3 FANNIE MAE NOTES 0.50% 11/7/2025 3,712.50 5/11/2022 5/11/2022 425,000.00 166764BW9 CHEVRON CORP (CALLABLE) NOTES 1.55% 5/11/2025 3,302.25 5/11/2022 5/11/2022 200,000.00 166764BV1 CHEVRON CORP CORPORATE NOTES 1.14% 5/11/2023 1,141.00 5/12/2022 5/12/2022 300,000.00 023135BW5 AMAZON.COM INC CORPORATE NOTES 0.45% 5/12/2024 675.00 5/13/2022 5/13/2022 603,000.00 110122DN5 BRISTOL-MYERS SQUIBB CO CORPORATE NOTES 0.75% 11/13/2025 2,261.25 5/15/2022 5/15/2022 700,000.00 369550BG2 GENERAL DYNAMICS CORP (CALLABLE) CORP NO 3.50% 5/15/2025 12,250.00 5/15/2022 5/15/2022 720,000.00 448977AD0 HART 2022-A A3 2.22% 10/15/2026 1,332.00 5/15/2022 5/15/2022 161,601.90 14315FAD9 CARMX 2020-3 A3 0.62% 3/17/2025 83.49 5/15/2022 5/15/2022 5,000,000.00 91282CDH1 US TREASURY N/B NOTES 0.75% 11/15/2024 18,750.00 5/15/2022 5/15/2022 350,000.00 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 236.25 5/15/2022 5/15/2022 140,000.00 44891TAD8 HALST 2021-A A4 0.42% 12/16/2024 49.00 5/15/2022 5/15/2022 610,000.00 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 279.58 5/15/2022 5/15/2022 2,285,000.00 912828ZP8 US TREASURY NOTES 0.12% 5/15/2023 1,428.13 5/15/2022 5/15/2022 84,622.65 58769EAC2 MBALT 2020-B A3 0.40% 11/15/2023 28.21 5/15/2022 5/15/2022 120,000.00 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 34.00 5/15/2022 5/15/2022 220,000.00 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 69.67 20 57
Item5.
© PFM Asset Management LLC pfmam.com

INTEREST
5/15/2022 5/15/2022 715,000.00 14041NFY2 COMET 2021-A3 A3 1.04% 11/16/2026 619.67 5/15/2022 5/15/2022 188,361.14 65480EAD3 NALT 2020-B A3 0.43% 10/16/2023 67.50 5/15/2022 5/15/2022 375,000.00 91412HGE7 UNIV OF CAL TXBL REV BONDS 0.88% 5/15/2025 1,655.63 5/15/2022 5/15/2022 155,000.00 50117TAC5 KCOT 2021-1A A3 0.62% 8/15/2025 80.08 5/15/2022 5/15/2022 300,000.00 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 130.00 5/15/2022 5/15/2022 228,634.40 89237VAB5 TAOT 2020-C A3 0.44% 10/15/2024 83.83 5/15/2022 5/15/2022 255,000.00 345286AC2 FORDO 2022-A A3 1.29% 6/15/2026 274.13 5/15/2022 5/15/2022 370,000.00 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 172.67 5/16/2022 5/16/2022 253,981.00 362590AC5 GMCAR 2020-3 A3 0.45% 4/16/2025 95.24 5/16/2022 5/16/2022 285,000.00 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 299.25 5/18/2022 5/18/2022 305,000.00 43815EAC8 HAROT 2021-3 A3 0.41% 11/18/2025 104.21 5/20/2022 5/20/2022 225,000.00 36262XAD6 GMALT 2021-3 A4 0.50% 7/21/2025 93.75 5/20/2022 5/20/2022 235,000.00 89238EAC0 TLOT 2021-A A3 0.39% 4/22/2024 76.38 5/21/2022 5/21/2022 285,000.00 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 209.00 5/24/2022 5/24/2022 245,000.00 34415LAP6 FOCUS BANK CD 2.20% 11/24/2022 2,672.85 5/24/2022 5/24/2022 400,000.00 4581X0DM7 INTER-AMERICAN DEVEL BK NOTES 0.50% 5/24/2023 1,000.00 5/24/2022 5/24/2022 790,000.00 14912L5X5 CATERPILLAR FINANCIAL SERVICES CORP NOTE 3.75% 11/24/2023 14,812.50 21 58
Item5.
© PFM Asset Management LLC pfmam.com

INTEREST
5/24/2022 5/24/2022 665,000.00 459058JM6 INTL BK RECON & DEVELOP NOTES 0.25% 11/24/2023 831.25 5/25/2022 5/25/2022 160,000.00 05591RAD6 BMWLT 2021-1 A4 0.37% 7/25/2024 49.33 5/28/2022 5/28/2022 700,000.00 04636NAA1 ASTRAZENECA FINANCE LLC (CALLABLE) CORP 1.20% 5/28/2026 4,200.00 5/30/2022 5/30/2022 825,000.00 002824BE9 ABBOTT LABORATORIES CORP NOTES 3.40% 11/30/2023 14,025.00 5/31/2022 5/31/2022 4,080,000.00 91282CCF6 US TREASURY N/B NOTES 0.75% 5/31/2026 15,300.00 5/31/2022 5/31/2022 2,000,000.00 912828ZT0 US TREASURY NOTES 0.25% 5/31/2025 2,500.00 5/31/2022 5/31/2022 1,480,000.00 9128283J7 US TREASURY NOTES 2.12% 11/30/2024 15,725.00 6/1/2022 6/1/2022 585,000.00 46647PCH7 JPMORGAN CHASE & CO (CALLABLE) CORP NOTE 0.82% 6/1/2025 2,410.20 6/1/2022 6/25/2022 135,449.60 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 257.35 6/1/2022 6/25/2022 860,707.19 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 2,197.67 6/1/2022 6/25/2022 400,000.00 3137BTU25 FHMS K724 A2 3.06% 11/1/2023 1,020.67 6/1/2022 6/25/2022 373,378.93 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,110.56 6/1/2022 6/25/2022 50,738.87 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 88.45 6/1/2022 6/25/2022 665,000.00 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 1,696.86 6/2/2022 6/2/2022 MONEY0002 MONEY MARKET FUND 21.17
6/4/2022 6/4/2022 300,000.00 3137EAFA2 FREDDIE MAC NOTES 0.25% 12/4/2023 375.00 6/6/2022 6/6/2022 800,000.00 05531FBF9 BB&T CORPORATION NOTES (CALLABLE) 3.75% 12/6/2023 15,000.00 22 59
Item5.
© PFM Asset Management LLC pfmam.com

INTEREST
6/8/2022 6/8/2022 360,000.00 69371RQ82 PACCAR FINANCIAL CORP CORPORATE NOTES 0.80% 6/8/2023 1,440.00 6/15/2022 6/15/2022 350,000.00 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 236.25 6/15/2022 6/15/2022 155,000.00 50117TAC5 KCOT 2021-1A A3 0.62% 8/15/2025 80.08 6/15/2022 6/15/2022 149,581.25 14315FAD9 CARMX 2020-3 A3 0.62% 3/17/2025 77.28 6/15/2022 6/15/2022 255,000.00 345286AC2 FORDO 2022-A A3 1.29% 6/15/2026 274.13 6/15/2022 6/15/2022 300,000.00 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 130.00 6/15/2022 6/15/2022 140,000.00 44891TAD8 HALST 2021-A A4 0.42% 12/16/2024 49.00 6/15/2022 6/15/2022 715,000.00 14041NFY2 COMET 2021-A3 A3 1.04% 11/16/2026 619.67 6/15/2022 6/15/2022 211,412.47 89237VAB5 TAOT 2020-C A3 0.44% 10/15/2024 77.52 6/15/2022 6/15/2022 162,223.49 65480EAD3 NALT 2020-B A3 0.43% 10/16/2023 58.13 6/15/2022 6/15/2022 720,000.00 448977AD0 HART 2022-A A3 2.22% 10/15/2026 1,332.00 6/15/2022 6/15/2022 220,000.00 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 69.67 6/15/2022 6/15/2022 715,000.00 254683CS2 DCENT 2022-A2 A 3.32% 5/17/2027 1,252.84 6/15/2022 6/15/2022 120,000.00 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 34.00 6/15/2022 6/15/2022 610,000.00 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 279.58 6/15/2022 6/15/2022 370,000.00 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 172.67 6/15/2022 6/15/2022 77,987.28 58769EAC2 MBALT 2020-B A3 0.40% 11/15/2023 26.00 23 60
Item5.
© PFM Asset Management LLC pfmam.com

INTEREST
6/16/2022 6/16/2022 237,401.91 362590AC5 GMCAR 2020-3 A3 0.45% 4/16/2025 89.03 6/16/2022 6/16/2022 285,000.00 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 299.25 6/18/2022 6/18/2022 305,000.00 43815EAC8 HAROT 2021-3 A3 0.41% 11/18/2025 104.21 6/20/2022 6/20/2022 225,000.00 36262XAD6 GMALT 2021-3 A4 0.50% 7/21/2025 93.75 6/20/2022 6/20/2022 235,000.00 89238EAC0 TLOT 2021-A A3 0.39% 4/22/2024 76.38 6/21/2022 6/21/2022 285,000.00 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 209.00 6/25/2022 6/25/2022 160,000.00 05591RAD6 BMWLT 2021-1 A4 0.37% 7/25/2024 49.33 6/25/2022 7/12/2022 380,000.00 05602RAD3 BMWOT 2022-A A3 3.21% 8/25/2026 1,253.68 6/30/2022 6/30/2022 1,200,000.00 91282CBC4 US TREASURY NOTES 0.37% 12/31/2025 2,250.00 6/30/2022 6/30/2022 1,225,000.00 912828XX3 US TREASURY NOTES 2.00% 6/30/2024 12,250.00 6/30/2022 6/30/2022 2,410,000.00 91282CCJ8 US TREASURY N/B NOTES 0.87% 6/30/2026 10,543.75 6/30/2022 6/30/2022 775,000.00 912828S35 US TREASURY NOTES 1.37% 6/30/2023 5,328.13 Total INTEREST 85,617,166.90 386,407.92 0.00

MATURITY
5/11/2022 5/11/2022 235,000.00 539830BE8 LOCKHEED MARTIN CORP NOTES (CALLED,OMD 3 2.90% 5/11/2022 236,325.14 6/1/2022 6/1/2022 245,000.00 1404203C2 CAPITAL ONE BANK USA NA CD 2.40% 6/1/2022 247,931.95 24 61
Item5.
© PFM Asset Management LLC pfmam.com

MATURITY
6/21/2022 6/21/2022 245,000.00 38148PKX4 GOLDMAN SACHS GROUP INC CD 2.35% 6/21/2022 247,870.86 Total MATURITY 725,000.00 732,127.95 0.00

PAYDOWNS
4/1/2022 4/25/2022 17,249.90 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 17,249.90 4/1/2022 4/25/2022 26,168.74 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 26,168.74 4/1/2022 4/25/2022 232.20 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 232.20 4/15/2022 4/15/2022 13,971.26 14315FAD9 CARMX 2020-3 A3 0.62% 3/17/2025 13,971.26 4/15/2022 4/15/2022 20,659.62 89237VAB5 TAOT 2020-C A3 0.44% 10/15/2024 20,659.62 4/15/2022 4/15/2022 29,015.67 65480EAD3 NALT 2020-B A3 0.43% 10/16/2023 29,015.67 4/15/2022 4/15/2022 5,377.35 58769EAC2 MBALT 2020-B A3 0.40% 11/15/2023 5,377.35 4/16/2022 4/16/2022 19,199.81 362590AC5 GMCAR 2020-3 A3 0.45% 4/16/2025 19,199.81 5/1/2022 5/25/2022 8,149.42 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 8,149.42 5/1/2022 5/25/2022 8,594.85 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 8,594.85 5/1/2022 5/25/2022 40,692.92 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 40,692.92 5/15/2022 5/15/2022 26,137.65 65480EAD3 NALT 2020-B A3 0.43% 10/16/2023 26,137.65 5/15/2022 5/15/2022 12,020.65 14315FAD9 CARMX 2020-3 A3 0.62% 3/17/2025 12,020.65 5/15/2022 5/15/2022 6,635.37 58769EAC2 MBALT 2020-B A3 0.40% 11/15/2023 6,635.37 25 62
Item5.
© PFM Asset Management LLC pfmam.com

PAYDOWNS
5/15/2022 5/15/2022 17,221.93 89237VAB5 TAOT 2020-C A3 0.44% 10/15/2024 17,221.93 5/16/2022 5/16/2022 16,579.09 362590AC5 GMCAR 2020-3 A3 0.45% 4/16/2025 16,579.09 6/1/2022 6/25/2022 1,001.71 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 1,001.71 6/1/2022 6/25/2022 13,720.89 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 13,720.89 6/1/2022 6/25/2022 32,259.43 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 32,259.43 6/1/2022 6/25/2022 11,434.57 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 11,434.57 6/15/2022 6/15/2022 23,807.60 65480EAD3 NALT 2020-B A3 0.43% 10/16/2023 23,807.60 6/15/2022 6/15/2022 11,423.58 14315FAD9 CARMX 2020-3 A3 0.62% 3/17/2025 11,423.58 6/15/2022 6/15/2022 6,889.75 58769EAC2 MBALT 2020-B A3 0.40% 11/15/2023 6,889.75 6/15/2022 6/15/2022 16,754.77 89237VAB5 TAOT 2020-C A3 0.44% 10/15/2024 16,754.77 6/16/2022 6/16/2022 15,635.55 362590AC5 GMCAR 2020-3 A3 0.45% 4/16/2025 15,635.55 Total PAYDOWNS 400,834.28 400,834.28 0.00
SELL
4/1/2022 4/5/2022 165,000.00 91282CAX9 US TREASURY NOTES 0.12% 11/30/2022 163,717.87 -1,311.09 4/21/2022 4/22/2022 635,000.00 23341VZT1 DNB BANK ASA/NY LT CD 2.04% 12/2/2022 640,623.57 549.92 4/21/2022 4/26/2022 200,000.00 3137EAEQ8 FREDDIE MAC NOTES 0.37% 4/20/2023 196,780.50 -3,068.07 5/2/2022 5/4/2022 250,000.00 91282CAX9 US TREASURY NOTES 0.12% 11/30/2022 248,082.29 -2,008.41 26 63
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
SELL
5/2/2022 5/4/2022 150,000.00 91282CAX9 US TREASURY NOTES 0.12% 11/30/2022 148,849.37 -1,196.57 5/2/2022 5/4/2022 155,000.00 912828N30 US TREASURY NOTES 2.12% 12/31/2022 156,497.59 -1,682.30 5/2/2022 5/4/2022 460,000.00 3137EAEQ8 FREDDIE MAC NOTES 0.37% 4/20/2023 452,306.88 -7,391.57 5/2/2022 5/4/2022 1,000,000.00 459058JV6 INTL BK OF RECON AND DEV NOTE 0.12% 4/20/2023 980,538.61 -18,620.48 5/3/2022 5/4/2022 1,000,000.00 65558TLL7 NORDEA BANK ABP NEW YORK CERT DEPOS 1.85% 8/26/2022 1,004,276.27 935.99 5/10/2022 5/12/2022 450,000.00 06406RAG2 BANK OF NY MELLON CORP NOTES 3.50% 4/28/2023 454,671.50 1,350.21 5/16/2022 5/18/2022 325,000.00 459058JV6 INTL BK OF RECON AND DEV NOTE 0.12% 4/20/2023 318,778.60 -5,975.44 5/17/2022 5/20/2022 200,000.00 91324PCC4 UNITEDHEALTH GROUP INC CORP NOTES 2.87% 3/15/2023 201,940.19 -362.26 5/25/2022 5/31/2022 125,000.00 912828ZP8 US TREASURY NOTES 0.12% 5/15/2023 122,736.28 -2,264.56 5/25/2022 5/26/2022 600,000.00 459058JV6 INTL BK OF RECON AND DEV NOTE 0.12% 4/20/2023 589,239.00 -10,335.74 5/25/2022 5/31/2022 760,000.00 3137EAER6 FREDDIE MAC NOTES 0.37% 5/5/2023 748,182.63 -11,924.20 6/2/2022 6/6/2022 440,000.00 91324PCC4 UNITEDHEALTH GROUP INC CORP NOTES 2.87% 3/15/2023 444,425.85 -1,043.63 6/2/2022 6/6/2022 400,000.00 4581X0DM7 INTER-AMERICAN DEVEL BK NOTES 0.50% 5/24/2023 392,978.67 -7,045.45 6/2/2022 6/6/2022 360,000.00 06406RAG2 BANK OF NY MELLON CORP NOTES 3.50% 4/28/2023 365,063.20 1,720.51 6/2/2022 6/6/2022 825,000.00 459058JV6 INTL BK OF RECON AND DEV NOTE 0.12% 4/20/2023 809,852.77 -14,614.14 Total SELL 8,500,000.00 8 ,439,541.64 -84,287.28
27 64
Item5.
© PFM Asset Management LLC | pfmam.com
Portfolio Holdings
65 Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury

US TREASURY NOTES
DTD 04/30/2018 2.750% 04/30/2023
9128284L1 50,000.00 AA+ Aaa 6/3/2019 6/5/2019 51,652.34 1.87 231.66 49,945.3150,351.34

US TREASURY NOTES
DTD 05/02/2016 1.625% 04/30/2023
912828R28 4,800,000.00 AA+ Aaa 11/10/2021 11/12/2021 4,890,187.50 0.34 13,141.30 4,750,500.004,851,173.81

US TREASURY NOTES
DTD 05/15/2020 0.125% 05/15/2023
912828ZP8 2,160,000.00 AA+ Aaa 1/4/2021 1/6/2021 2,159,746.88 0.13 344.84 2,108,700.002,159,906.30

US TREASURY NOTES
DTD 06/30/2016 1.375% 06/30/2023
912828S35 775,000.00 AA+ Aaa 5/8/2019 5/9/2019 747,511.72 2.28 28.96 763,253.95768,386.82

US TREASURY N/B NOTES
DTD 07/31/2021 0.125% 07/31/2023
91282CCN9 240,000.00 AA+ Aaa 8/5/2021 8/9/2021 239,634.38 0.20 125.14 232,800.00239,799.70

US TREASURY NOTES
DTD 07/31/2018 2.750% 07/31/2023
912828Y61 145,000.00 AA+ Aaa 9/3/2019 9/5/2019 152,657.81 1.36 1,663.29 144,660.15147,122.69

US TREASURY N/B NOTES
DTD 08/31/2021 0.125% 08/31/2023
91282CCU3 900,000.00 AA+ Aaa 9/1/2021 9/3/2021 898,558.59 0.21 376.02 870,890.58899,155.38

US TREASURY NOTES
DTD 09/30/2021 0.250% 09/30/2023
91282CDA6 800,000.00 AA+ Aaa 10/1/2021 10/6/2021 799,718.75 0.27 502.73 773,500.00799,822.86

US TREASURY NOTES
DTD 10/01/2018 2.875% 09/30/2023
9128285D8 5,000,000.00 AA+ Aaa 11/10/2021 11/12/2021 5,224,609.38 0.47 36,133.88 4,993,750.005,149,085.70

US TREASURY N/B NOTES
DTD 10/31/2021 0.375% 10/31/2023
91282CDD0 2,350,000.00 AA+ Aaa 11/1/2021 11/3/2021 2,343,390.63 0.52 1,484.71 2,270,320.432,345,572.54

US TREASURY NOTES
DTD 01/31/2017 2.250% 01/31/2024
912828V80 600,000.00 AA+ Aaa 5/8/2019 5/9/2019 598,851.56 2.29 5,631.22 593,062.50599,615.19

US TREASURY NOTES
DTD 02/28/2017 2.125% 02/29/2024
912828W48 95,000.00 AA+ Aaa 4/29/2019 5/1/2019 94,157.62 2.32 674.75 93,693.7594,709.82

US TREASURY NOTES
DTD 03/31/2017 2.125% 03/31/2024
912828W71 1,420,000.00 AA+ Aaa 1/13/2022 1/18/2022 1,455,000.78 0.99 7,584.97 1,398,921.801,447,852.43

US TREASURY NOTES
DTD 03/31/2017 2.125% 03/31/2024
912828W71 2,650,000.00 AA+ Aaa 4/15/2021 4/16/2021 2,789,539.06 0.33 14,155.06 2,610,663.932,732,560.61

US TREASURY N/B NOTES
DTD 04/15/2021 0.375% 04/15/2024
91282CBV2 4,350,000.00 AA+ Aaa 11/10/2021 11/12/2021 4,319,414.06 0.67 3,431.86 4,152,210.724,327,397.51 28 66
Item5.
© PFM Asset Management LLC pfmam.com

US TREASURY N/B NOTES
DTD 05/31/2022 2.500% 05/31/2024
91282CER8 800,000.00 AA+ Aaa 6/2/2022 6/6/2022 797,687.50 2.65 1,693.99 792,875.04797,767.24

US TREASURY NOTES
DTD 06/30/2017 2.000% 06/30/2024
912828XX3 1,225,000.00 AA+ Aaa 7/1/2019 7/3/2019 1,238,159.18 1.77 66.58 1,201,648.441,230,266.56

US TREASURY NOTES
DTD 07/31/2019 1.750% 07/31/2024
912828Y87 740,000.00 AA+ Aaa 12/2/2019 12/4/2019 742,572.66 1.67 5,401.80 721,268.75741,150.97

US TREASURY NOTES
DTD 08/15/2014 2.375% 08/15/2024
912828D56 575,000.00 AA+ Aaa 10/25/201 10/28/201 595,282.23 1.61 5,130.52 567,363.31583,978.33

US TREASURY NOTES
DTD 10/02/2017 2.125% 09/30/2024
9128282Y5 795,000.00 AA+ Aaa 12/2/2019 12/4/2019 811,334.77 1.68 4,246.52 780,093.75802,620.42

US TREASURY NOTES
DTD 10/31/2019 1.500% 10/31/2024
912828YM6 635,000.00 AA+ Aaa 2/4/2021 2/5/2021 663,773.44 0.28 1,604.76 613,370.31652,993.95

US TREASURY N/B NOTES
DTD 11/15/2021 0.750% 11/15/2024
91282CDH1 5,000,000.00 AA+ Aaa 11/10/2021 11/15/2021 4,991,406.25 0.81 4,789.40 4,739,844.004,993,194.00

US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
9128283J7 1,480,000.00 AA+ Aaa 1/2/2020 1/6/2020 1,512,085.94 1.66 2,663.80 1,449,012.501,495,827.87

US TREASURY NOTES
DTD 01/31/2018 2.500% 01/31/2025
9128283V0 280,000.00 AA+ Aaa 2/3/2020 2/5/2020 295,301.56 1.36 2,919.89 276,237.50287,936.32

US TREASURY N/B NOTES
DTD 02/15/2022 1.500% 02/15/2025
91282CDZ1 1,175,000.00 AA+ Aaa 5/2/2022 5/4/2022 1,130,294.92 2.93 6,621.55 1,129,101.561,132,841.97

US TREASURY NOTES
DTD 04/30/2020 0.375% 04/30/2025
912828ZL7 3,375,000.00 AA+ Aaa 1/3/2022 1/5/2022 3,294,184.57 1.11 2,132.30 3,131,367.193,305,996.57

US TREASURY NOTES
DTD 05/31/2020 0.250% 05/31/2025
912828ZT0 2,000,000.00 AA+ Aaa 11/10/2021 11/12/2021 1,950,078.13 0.97 423.50 1,845,312.401,958,976.24

US TREASURY NOTES
DTD 07/31/2020 0.250% 07/31/2025
91282CAB7 2,380,000.00 AA+ Aaa 4/15/2021 4/16/2021 2,335,839.84 0.69 2,481.91 2,184,393.752,348,267.81

US TREASURY NOTES
DTD 09/30/2020 0.250% 09/30/2025
91282CAM3 620,000.00 AA+ Aaa 9/1/2021 9/3/2021 610,578.91 0.63 389.62 566,234.34612,484.65

US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 1,200,000.00 AA+ Aaa 1/29/2021 2/2/2021 1,197,421.88 0.42 12.23 1,093,312.561,198,160.95

US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 1,280,000.00 AA+ Aaa 7/2/2021 7/7/2021 1,255,400.00 0.80 2,002.21 1,163,600.001,260,691.43

US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 1,600,000.00 AA+ Aaa 11/1/2021 11/3/2021 1,550,500.00 1.12 2,502.76 1,454,500.001,558,164.52 29 67
Item5.
© PFM Asset Management LLC pfmam.com

US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 800,000.00 AA+ Aaa 10/1/2021 10/6/2021 784,500.00 0.83 1,251.38 727,250.00787,132.45

US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 1,000,000.00 AA+ Aaa 9/1/2021 9/3/2021 986,445.31 0.69 1,564.23 909,062.50988,977.87

US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 645,000.00 AA+ Aaa 3/1/2021 3/3/2021 635,098.24 0.69 1,008.93 586,345.31637,773.65

US TREASURY NOTES
DTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 3,000,000.00 AA+ Aaa 11/10/2021 11/12/2021 2,923,710.94 1.11 5,013.59 2,733,750.002,934,942.79

US TREASURY NOTES
DTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 400,000.00 AA+ Aaa 3/31/2021 4/5/2021 392,359.38 0.90 668.48 364,500.00394,288.74

US TREASURY N/B NOTES
DTD 03/31/2021 0.750% 03/31/2026
91282CBT7 2,000,000.00 AA+ Aaa 4/15/2021 4/16/2021 1,991,015.63 0.84 3,770.49 1,836,875.001,993,204.64

US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 1,680,000.00 AA+ Aaa 6/2/2021 6/4/2021 1,676,325.00 0.79 1,067.21 1,536,937.581,677,115.67

US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 2,400,000.00 AA+ Aaa 2/15/2022 2/17/2022 2,281,312.50 1.96 1,524.59 2,195,625.122,291,481.38

US TREASURY N/B NOTES
DTD 06/30/2021 0.875% 06/30/2026
91282CCJ8 2,050,000.00 AA+ Aaa 8/2/2021 8/4/2021 2,070,820.31 0.66 48.74 1,881,515.632,066,972.45

US TREASURY N/B NOTES
DTD 06/30/2021 0.875% 06/30/2026
91282CCJ8 360,000.00 AA+ Aaa 4/1/2022 4/5/2022 334,687.50 2.64 8.56 330,412.50336,111.02

US TREASURY NOTES
DTD 08/15/2016 1.500% 08/15/2026
9128282A7 1,900,000.00 AA+ Aaa 5/2/2022 5/4/2022 1,784,886.72 3.02 10,707.18 1,783,921.781,789,155.63

US TREASURY N/B NOTES
DTD 10/31/2021 1.125% 10/31/2026
91282CDG3 500,000.00 AA+ Aaa 11/1/2021 11/3/2021 497,675.78 1.22 947.69 460,781.25497,981.77

US TREASURY N/B NOTES
DTD 10/31/2021 1.125% 10/31/2026
91282CDG3 5,000,000.00 AA+ Aaa 11/10/2021 11/12/2021 4,984,375.00 1.19 9,476.90 4,607,812.504,986,364.73

US TREASURY N/B NOTES
DTD 10/31/2021 1.125% 10/31/2026
91282CDG3 400,000.00 AA+ Aaa 2/11/2022 2/14/2022 385,828.13 1.92 758.15 368,625.00386,956.94

US TREASURY NOTES
DTD 02/15/2017 2.250% 02/15/2027
912828V98 1,160,000.00 AA+ Aaa 6/2/2022 6/6/2022 1,125,064.06 2.94 9,805.52 1,118,312.501,125,573.33 74,790,000.00 74,590,637.34 178,215.37 70,958,135.19Security Type Sub-Total 1.01 74,467,865.56 30 68
Item5.
© PFM Asset Management LLC pfmam.com

INTL BK RECON & DEVELOP NOTES
DTD 11/24/2020 0.250% 11/24/2023
459058JM6 665,000.00 AAA Aaa 11/17/2020 11/24/2020 663,570.25 0.32 170.87 640,372.39664,332.78

INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
4581X0DZ8 1,530,000.00 AAA Aaa 9/15/2021 9/23/2021 1,528,867.80 0.52 2,082.50 1,446,428.341,529,158.08

INTER-AMERICAN DEVELOPMENT

BANK NOTES
DTD 01/16/2020 1.750% 03/14/2025
4581X0DK1 835,000.00 AAA Aaa 2/19/2021 2/23/2021 877,835.50 0.47 4,343.16 807,152.75863,566.65 3,030,000.00 3,070,273.55 6,596.53 2,893,953.48Security Type Sub-Total 0.47 3,057,057.51 Negotiable CD

CREDIT SUISSE NEW YORK CERT
DEPOS
DTD 03/23/2021 0.590% 03/17/2023
22552G3C2 715,000.00 A-1 P-1 3/19/2021 3/23/2021 715,000.00 0.59 1,242.11 701,079.67715,000.00 715,000.00 715,000.00 1,242.11 701,079.67Security Type Sub-Total 0.59 715,000.00 Municipal

SAN FRAN COMM FAC DIST, CA TXBL

REV BNDS
DTD 11/09/2017 2.500% 09/01/2022
79772EAE9 380,000.00 NR NR 10/27/201 11/9/2017 377,362.80 2.66 3,166.67 379,958.20379,906.94

SAN FRAN COMM FAC DIST, CA TXBL

REV BNDS
DTD 11/09/2017 2.500% 09/01/2022
79772EAX7 350,000.00 NR NR 10/27/201 11/9/2017 348,355.00 2.61 2,916.67 349,961.50349,941.95

TAMALPAIS UHSD, CA TXBL GO
BONDS
DTD 10/09/2019 1.971% 08/01/2023
874857KJ3 615,000.00 NR Aaa 9/20/2019 10/9/2019 615,000.00 1.97 5,050.69 606,193.20615,000.00

VENTURA CNTY CCD, CA TXBL GO
BONDS
DTD 10/31/2019 1.750% 08/01/2023
923040GT0 350,000.00 AA+ Aa1 10/3/2019 10/31/201 350,000.00 1.75 2,552.08 344,781.50350,000.00

LONG BEACH CCD, CA TXBL GO
BONDS
DTD 10/23/2019 1.743% 08/01/2023
542411NH2 350,000.00 AA Aa2 10/9/2019 10/23/201 350,000.00 1.74 2,541.88 344,998.50350,000.00

CT ST TXBL GO BONDS
DTD 06/11/2020 1.998% 07/01/2024
20772KJW0 150,000.00 A+ Aa3 5/29/2020 6/11/2020 150,000.00 2.00 1,498.50 147,694.50150,000.00 31 69
Item5.
© PFM Asset Management LLC pfmam.com

WI DEPT OF TRANS TXBL REV BONDS
DTD 07/30/2020 0.624% 07/01/2024
977123X60 640,000.00 AAA NR 7/10/2020 7/30/2020 640,000.00 0.62 1,996.80 605,190.40640,000.00

PALOMAR COMM COLL DIST, CA TXBL

GO BONDS
DTD 11/03/2020 0.794% 08/01/2024
697511FB4 440,000.00 AA Aa2 10/16/202 11/3/2020 440,000.00 0.79 1,455.67 417,164.00440,000.00

SAN DIEGO CCD, CA TXBL GO BONDS
DTD 10/16/2019 2.046% 08/01/2024
797272QP9 245,000.00 AAA Aaa 9/18/2019 10/16/201 245,000.00 2.05 2,088.63 239,313.55245,000.00

SAN JUAN USD, CA TXBL GO BONDS
DTD 10/29/2020 0.702% 08/01/2024
798306WN2 415,000.00 NR Aa2 10/16/202 10/29/202 415,000.00 0.70 1,213.88 393,835.00415,000.00

VENTURA CNTY CCD, CA TXBL GO
BONDS
DTD 10/31/2019 1.800% 08/01/2024
923040GU7 490,000.00 AA+ Aa1 10/3/2019 10/31/201 490,000.00 1.80 3,675.00 475,055.00490,000.00

MD ST TXBL GO BONDS
DTD 08/05/2020 0.510% 08/01/2024
574193TQ1 375,000.00 AAA Aaa 7/23/2020 8/5/2020 374,895.00 0.52 796.88 356,475.00374,945.09

MS ST TXBL GO BONDS
DTD 08/06/2020 0.565% 11/01/2024
605581MZ7 120,000.00 AA Aa2 7/24/2020 8/6/2020 120,000.00 0.57 113.00 111,883.20120,000.00

NY ST URBAN DEV CORP TXBL REV
BONDS
DTD 12/23/2020 0.870% 03/15/2025
650036DT0 945,000.00 AA+ NR 12/16/202 12/23/202 945,000.00 0.87 2,420.78 879,511.50945,000.00

SAN DEIGO CNTY WTR AUTH, CA

TXBL REV BON
DTD 07/22/2020 0.743% 05/01/2025
797412DM2 480,000.00 AAA Aa2 7/9/2020 7/22/2020 480,000.00 0.74 594.40 451,036.80480,000.00

UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 375,000.00 AA Aa2 7/10/2020 7/16/2020 375,000.00 0.88 423.10 348,468.75375,000.00

FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 155,000.00 AA Aa3 9/3/2020 9/16/2020 156,095.85 1.11 974.95 145,281.50155,686.71

FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 150,000.00 AA Aa3 9/3/2020 9/16/2020 150,994.50 1.12 943.50 140,595.00150,623.20

FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 400,000.00 AA Aa3 9/3/2020 9/16/2020 400,000.00 1.26 2,516.00 374,920.00400,000.00

LOS ANGELES CCD, CA TXBL GO
BONDS
DTD 11/10/2020 0.773% 08/01/2025
54438CYK2 410,000.00 AA+ Aaa 10/30/202 11/10/2020 410,000.00 0.77 1,320.54 379,578.00410,000.00 32 70
Item5.
© PFM Asset Management LLC pfmam.com

MN ST TXBL GO BONDS
DTD 08/25/2020 0.630% 08/01/2025
60412AVJ9 275,000.00 AAA Aa1 8/11/2020 8/25/2020 275,000.00 0.63 721.88 253,423.50275,000.00

SAN RAMON VALLEY USD, CA TXBL

GO BONDS
DTD 10/20/2020 0.740% 08/01/2025
799408Z85 405,000.00 AA+ Aa1 10/2/2020 10/20/202 405,000.00 0.74 1,248.75 374,147.10405,000.00

CT ST TXBL GO BONDS
DTD 09/13/2018 3.743% 09/15/2025
20772KEW5 630,000.00 A+ Aa3 11/17/2020 11/19/2020 716,706.90 0.83 6,943.27 637,226.10687,706.13

LOS ANGELES USD, CA TXBL GO
BONDS
DTD 11/10/2021 1.455% 07/01/2026
544647FC9 310,000.00 NR Aa3 10/28/202 11/10/2021 310,000.00 1.46 2,255.25 287,289.40310,000.00 9,455,000.00 9,539,410.05 49,428.77 9,043,981.20Security Type Sub-Total 1.22 9,513,810.02 Federal Agency

FANNIE MAE NOTES
DTD 07/10/2020 0.250% 07/10/2023
3135G05G4 570,000.00 AA+ Aaa 7/8/2020 7/10/2020 568,774.50 0.32 676.88 554,698.92569,581.43

FREDDIE MAC NOTES
DTD 08/21/2020 0.250% 08/24/2023
3137EAEV7 275,000.00 AA+ Aaa 9/1/2020 9/3/2020 274,994.50 0.25 242.53 266,661.45274,997.88

FANNIE MAE NOTES
DTD 09/14/2018 2.875% 09/12/2023
3135G0U43 1,500,000.00 AA+ Aaa 4/1/2020 4/3/2020 1,625,340.00 0.43 13,057.29 1,498,516.501,543,674.56

FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
3137EAFA2 300,000.00 AA+ Aaa 12/2/2020 12/4/2020 299,703.00 0.28 56.25 288,504.00299,858.69

FREDDIE MAC NOTES
DTD 02/14/2020 1.500% 02/12/2025
3137EAEP0 790,000.00 AA+ Aaa 3/3/2020 3/4/2020 813,020.60 0.90 4,575.42 758,693.88802,198.62

FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 2,000,000.00 AA+ Aaa 9/1/2020 9/3/2020 1,992,920.00 0.45 2,625.00 1,838,222.001,995,515.09

FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 1,150,000.00 AA+ Aaa 9/23/2020 9/25/2020 1,146,538.50 0.44 1,173.96 1,055,458.501,147,760.65

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 360,000.00 AA+ Aaa 11/9/2020 11/12/2020 358,711.20 0.57 270.00 330,437.52359,133.01

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 1,125,000.00 AA+ Aaa 12/2/2020 12/4/2020 1,122,828.75 0.54 843.75 1,032,617.251,123,521.52 8,070,000.00 8,202,831.05 23,521.08 7,623,810.02Security Type Sub-Total 0.48 8,116,241.45 33 71
Item5.
© PFM Asset Management LLC pfmam.com

FDIC CD

BENEFICIAL BANK CD
DTD 10/18/2017 2.150% 10/18/2022
08173QBX3 245,000.00 NR NR 9/27/2017 10/18/201 245,000.00 2.15 1,067.93 245,312.13245,000.00

FOCUS BANK CD
DTD 11/24/2017 2.200% 11/24/2022
34415LAP6 245,000.00 NR NR 11/14/2017 11/24/2017 245,000.00 2.20 561.15 245,331.24245,000.00 490,000.00 490,000.00 1,629.08 490,643.37Security Type Sub-Total 2.18 490,000.00 Corporate

BANK OF NY MELLON CORP NOTES
DTD 04/30/2018 3.500% 04/28/2023
06406RAG2 600,000.00 A A1 4/24/2019 4/26/2019 615,054.00 2.83 3,675.00 602,415.60603,097.23

CHEVRON CORP CORPORATE NOTES
DTD 05/11/2020 1.141% 05/11/2023
166764BV1 200,000.00 AA- Aa2 5/7/2020 5/11/2020 200,000.00 1.14 316.94 196,552.60200,000.00

PACCAR FINANCIAL CORP

CORPORATE NOTES
DTD 06/08/2020 0.800% 06/08/2023
69371RQ82 360,000.00 A+ A1 6/1/2020 6/8/2020 359,499.60 0.85 184.00 352,594.44359,843.71

AMERICAN EXPRESS CREDIT CORP

NOTES (CALL
DTD 08/03/2018 3.700% 08/03/2023
025816BW8 800,000.00 BBB+ A2 4/23/2019 4/26/2019 821,480.00 3.02 12,168.89 802,868.80805,155.76

TOYOTA MOTOR CREDIT CORP CORP
NOTES
DTD 10/18/2016 2.250% 10/18/2023
89236TDK8 1,090,000.00 A+ A1 2/5/2020 2/7/2020 1,107,374.60 1.80 4,973.13 1,075,605.461,096,104.94

CATERPILLAR FINANCIAL SERVICES

CORP NOTE
DTD 11/26/2013 3.750% 11/24/2023
14912L5X5 790,000.00 A A2 5/8/2019 5/10/2019 823,243.20 2.76 3,044.79 796,010.32800,239.47

ABBOTT LABORATORIES CORP
NOTES
DTD 11/22/2016 3.400% 11/30/2023
002824BE9 825,000.00 AA- A1 5/10/2019 5/14/2019 846,441.75 2.79 2,415.42 828,542.55831,110.90

BB&T CORPORATION NOTES
(CALLABLE)
DTD 12/06/2018 3.750% 12/06/2023
05531FBF9 800,000.00 A- A3 4/23/2019 4/25/2019 824,928.00 3.02 2,083.33 805,233.60807,421.20

BANK OF AMERICA CORP NOTE
DTD 01/21/2014 4.125% 01/22/2024
06051GFB0 1,395,000.00 A- A2 4/23/2019 4/25/2019 1,456,477.65 3.12 25,415.16 1,408,715.641,415,220.58

CHARLES SCHWAB CORP NOTES
DTD 10/31/2018 3.550% 02/01/2024
808513AY1 815,000.00 A A2 4/25/2019 4/29/2019 843,321.25 2.76 12,055.21 815,875.31824,445.85 34 72
Item5.
© PFM Asset Management LLC pfmam.com

COMCAST CORP (CALLABLE)

CORPORATE NOTES
DTD 10/05/2018 3.700% 04/15/2024
20030NCR0 635,000.00 A- A3 5/7/2020 5/11/2020 695,623.45 1.20 4,960.06 636,814.83661,900.58

MORGAN STANLEY CORP NOTES
DTD 04/28/2014 3.875% 04/29/2024
61746BDQ6 745,000.00 A- A1 7/19/2019 7/23/2019 788,604.85 2.56 4,971.84 746,970.53761,721.03 AMAZON.COM INC CORPORATE
NOTES
DTD 05/12/2021 0.450% 05/12/2024
023135BW5 300,000.00 AA A1 5/10/2021 5/12/2021 299,562.00 0.50 183.75 285,199.20299,727.85

US BANCORP NOTES (CALLABLE)
DTD 07/29/2019 2.400% 07/30/2024
91159HHX1 845,000.00 A+ A2 7/30/2019 8/1/2019 844,247.95 2.42 8,506.33 824,081.18844,686.82

BMW US CAPITAL LLC CORPORATE
NOTES
DTD 08/12/2021 0.750% 08/12/2024
05565EBU8 215,000.00 A A2 8/9/2021 8/12/2021 214,980.65 0.75 622.60 202,799.83214,986.35

UNILEVER CAPITAL CORP
(CALLABLE) CORPORA
DTD 08/12/2021 0.626% 08/12/2024
904764BN6 160,000.00 A+ A1 8/9/2021 8/12/2021 160,000.00 0.63 386.73 150,869.44160,000.00

WALT DISNEY COMPANY/THE
(CALLABLE)
DTD 09/06/2019 1.750% 08/30/2024
254687FK7 845,000.00 BBB+ A2 9/3/2019 9/6/2019 841,552.40 1.84 4,970.24 814,394.10843,501.62

PNC BANK NA CORP NOTES
(CALLABLE)
DTD 11/01/2019 2.200% 11/01/2024
693475AY1 600,000.00 A- A3 11/5/2019 11/8/2019 599,802.00 2.21 2,200.00 581,498.40599,907.09

GOLDMAN SACHS GROUP INC
(CALLABLE) CORP
DTD 01/24/2022 1.757% 01/24/2025
38141GZH0 400,000.00 BBB+ A2 1/19/2022 1/24/2022 400,000.00 1.76 3,064.99 385,725.20400,000.00

AMERICAN EXPRESS CO CORP

NOTES (CALLABLE
DTD 03/04/2022 2.250% 03/04/2025
025816CQ0 350,000.00 BBB+ A2 3/1/2022 3/4/2022 349,646.50 2.29 2,559.38 336,916.30349,684.88

ROCHE HOLDINGS INC (CALLABLE)

CORPORATE
DTD 03/10/2022 2.132% 03/10/2025
771196BT8 1,295,000.00 AA Aa3 3/3/2022 3/10/2022 1,295,000.00 2.13 8,512.90 1,249,911.991,295,000.00

BMW US CAPITAL LLC CORP NOTES
(CALLABLE)
DTD 04/09/2020 3.900% 04/09/2025
05565EBK0 575,000.00 A A2 8/12/2021 8/16/2021 632,005.50 1.12 5,107.92 574,307.13618,027.98 35 73
Item5.
© PFM Asset Management LLC pfmam.com

HOME DEPOT INC (CALLABLE)

CORPORATE NOTE
DTD 03/28/2022 2.700% 04/15/2025
437076CM2 105,000.00 A A2 3/24/2022 3/28/2022 104,816.25 2.76 732.38 102,764.45104,831.92

BANK OF NY MELLON CORP
(CALLABLE) CORP N
DTD 04/26/2022 3.350% 04/25/2025
06406RBC0 1,000,000.00 A A1 4/19/2022 4/26/2022 999,860.00 3.36 6,048.61 988,696.00999,868.44

CITIGROUP INC (CALLABLE)

CORPORATE NOTES
DTD 05/04/2021 0.981% 05/01/2025
172967MX6 255,000.00 BBB+ A3 4/27/2021 5/4/2021 255,000.00 0.98 416.93 238,826.37255,000.00

CITIGROUP INC (CALLABLE)

CORPORATE NOTES
DTD 05/04/2021 0.981% 05/01/2025
172967MX6 270,000.00 BBB+ A3 4/28/2021 5/4/2021 270,715.50 0.91 441.45 252,874.98270,438.60

CHEVRON CORP (CALLABLE) NOTES
DTD 05/11/2020 1.554% 05/11/2025
166764BW9 425,000.00 AA- Aa2 5/13/2020 5/15/2020 427,108.00 1.45 917.29 402,951.43426,193.98

GENERAL DYNAMICS CORP
(CALLABLE) CORP NO
DTD 05/11/2018 3.500% 05/15/2025
369550BG2 700,000.00 A- A3 3/4/2021 3/8/2021 772,884.00 0.96 3,130.56 698,014.10749,052.72

JPMORGAN CHASE & CO (CALLABLE)

CORP NOTE
DTD 06/01/2021 0.824% 06/01/2025
46647PCH7 585,000.00 A- A2 5/24/2021 6/1/2021 585,000.00 0.82 401.70 547,210.17585,000.00

NATIONAL RURAL UTIL COOP

CORPORATE NOTES
DTD 05/04/2022 3.450% 06/15/2025
63743HFE7 220,000.00 A- A2 4/27/2022 5/4/2022 219,940.60 3.46 1,201.75 218,748.42219,943.63

BRISTOL-MYERS SQUIBB CO

CORPORATE NOTES
DTD 11/13/2020 0.750% 11/13/2025
110122DN5 353,000.00 A+ A2 6/17/2021 6/21/2021 349,484.12 0.98 353.00 321,467.22350,305.08

BRISTOL-MYERS SQUIBB CO

CORPORATE NOTES
DTD 11/13/2020 0.750% 11/13/2025
110122DN5 250,000.00 A+ A2 6/23/2021 6/25/2021 247,857.50 0.95 250.00 227,668.00248,353.67

CITIGROUP INC CORP NOTES
(CALLABLE)
DTD 01/25/2022 2.014% 01/25/2026
17327CAN3 245,000.00 BBB+ A3 1/18/2022 1/25/2022 245,000.00 2.01 2,138.20 229,675.74245,000.00

GOLDMAN SACHS GROUP INC

CORPORATE NOTES
DTD 02/12/2021 0.855% 02/12/2026
38141GXS8 650,000.00 BBB+ A2 2/12/2021 2/17/2021 651,326.00 0.81 2,145.81 591,431.10650,962.64 36 74
Item5.
© PFM Asset Management LLC pfmam.com

MORGAN STANLEY CORP NOTES
(CALLABLE)
DTD 02/18/2022 2.630% 02/18/2026
61747YEM3 310,000.00 A- A1 2/16/2022 2/18/2022 310,000.00 2.63 3,012.08 297,548.54310,000.00

JPMORGAN CHASE & CO CORP NOTE
DTD 03/13/2020 2.005% 03/13/2026
46647PBH8 750,000.00 A- A2 10/1/2021 10/6/2021 770,182.50 1.38 4,511.25 700,827.00766,841.60

ASTRAZENECA FINANCE LLC
(CALLABLE) CORP
DTD 05/28/2021 1.200% 05/28/2026
04636NAA1 700,000.00 A- A3 7/15/2021 7/19/2021 700,742.00 1.18 770.00 631,639.40700,594.37

AMERICAN HONDA FINANCE

CORPORATE NOTES
DTD 09/09/2021 1.300% 09/09/2026
02665WDZ1 1,000,000.00 A- A3 11/29/2021 12/1/2021 985,630.00 1.61 4,044.44 900,480.00987,377.81

CATERPILLAR FINL SERVICE

CORPORATE NOTES
DTD 01/10/2022 1.700% 01/08/2027
14913R2U0 800,000.00 A A2 1/10/2022 1/12/2022 794,608.00 1.84 6,460.00 732,592.80795,111.10

JOHN DEERE CAPITAL CORP

CORPORATE NOTES
DTD 01/10/2022 1.700% 01/11/2027
24422EWA3 800,000.00 A A2 1/11/2022 1/13/2022 795,488.00 1.82 6,460.00 729,286.40795,906.05

TARGET CORP CORPORATE NOTES
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 180,000.00 A A2 1/19/2022 1/24/2022 179,694.00 1.99 1,530.75 166,657.86179,720.61

TARGET CORP CORPORATE NOTES
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 650,000.00 A A2 1/21/2022 1/25/2022 651,423.50 1.90 5,527.71 601,820.05651,300.43

IBM CORP CORPORATE NOTES
DTD 02/09/2022 2.200% 02/09/2027
459200KM2 1,000,000.00 A- A3 2/23/2022 2/25/2022 987,660.00 2.47 8,677.78 925,691.00988,519.03

HONEYWELL INTERNATIONAL
(CALLABLE) CORP
DTD 08/16/2021 1.100% 03/01/2027
438516CE4 700,000.00 A A2 3/1/2022 3/3/2022 667,296.00 2.09 2,566.67 621,694.50669,447.58

NORTHERN TRUST CORP NOTE
(CALLABLE)
DTD 05/10/2022 4.000% 05/10/2027
665859AW4 670,000.00 A+ A2 5/10/2022 5/12/2022 676,472.20 3.79 3,796.67 673,521.52676,291.82

UNITEDHEALTH GROUP INC

CORPORATE NOTES
DTD 05/20/2022 3.700% 05/15/2027
91324PEG3 440,000.00 A+ A3 6/2/2022 6/6/2022 443,590.40 3.52 1,854.11 439,608.40443,540.64 37 75
Item5.
© PFM Asset Management LLC pfmam.com

UNITEDHEALTH GROUP INC

CORPORATE NOTES
DTD 05/20/2022 3.700% 05/15/2027
91324PEG3 200,000.00 A+ A3 5/17/2022 5/20/2022 199,892.00 3.71 842.78 199,822.00199,894.49 27,898,000.00 28,310,515.92 180,610.53 26,915,419.90Security Type Sub-Total 2.13 28,061,280.05 Agency CMBS
FNA 2013-M7 A2
DTD 05/01/2013 2.280% 12/01/2022
3136AEGQ4 124,015.03 AA+ Aaa 9/4/2019 9/9/2019 125,639.76 1.86 235.63 123,618.71124,225.87 FHMS K724 A2
DTD 01/01/2017 3.062% 11/01/2023
3137BTU25 400,000.00 AA+ Aaa 1/28/2021 2/2/2021 427,015.63 0.58 1,020.67 397,429.76413,157.31

FANNIEMAE-ACES
DTD 04/01/2014 3.346% 03/01/2024
3136AJB54 359,658.04 AA+ Aaa 12/13/201 12/18/201 377,135.18 2.14 1,002.85 357,950.25366,591.97 FHMS KJ27 A1
DTD 11/01/2019 2.092% 07/01/2024
3137FQ3V3 18,479.44 AA+ Aaa 11/20/2019 11/26/2019 18,479.00 2.09 32.22 18,434.2618,479.25

FHLMC MULTIFAMILY STRUCTURED
POOL
DTD 11/01/2017 3.064% 08/01/2024
3137FBTA4 859,705.48 AA+ Aaa 5/25/2022 5/31/2022 860,847.28 3.00 2,195.11 854,018.02860,802.64 FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24 665,000.00 AA+ Aaa 3/19/2020 3/25/2020 697,938.28 1.95 1,696.86 661,987.06682,007.85 2,426,857.99 2,507,055.13 6,183.34 2,413,438.06Security Type Sub-Total 2.12 2,465,264.89 ABS
NALT 2020-B A3
DTD 09/29/2020 0.430% 10/16/2023
65480EAD3 138,415.89 AAA Aaa 9/22/2020 9/29/2020 138,401.65 0.43 26.45 137,882.77138,409.85 MBALT 2020-B A3
DTD 09/23/2020 0.400% 11/15/2023
58769EAC2 71,097.53 AAA NR 9/15/2020 9/23/2020 71,093.93 0.40 12.64 70,659.5871,095.96 TLOT 2021-A A3
DTD 04/21/2021 0.390% 04/22/2024
89238EAC0 235,000.00 AAA Aaa 4/13/2021 4/21/2021 234,972.58 0.39 28.00 230,068.71234,983.48 BMWLT 2021-1 A4
DTD 03/10/2021 0.370% 07/25/2024
05591RAD6 160,000.00 AAA Aaa 3/2/2021 3/10/2021 159,993.65 0.37 9.87 155,127.73159,996.11 TAOT 2020-C A3
DTD 07/27/2020 0.440% 10/15/2024
89237VAB5 194,657.70 AAA Aaa 7/21/2020 7/27/2020 194,642.72 0.44 38.07 192,087.67194,649.56 38 76
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
HALST 2021-A A4
DTD 01/20/2021 0.420% 12/16/2024
44891TAD8 140,000.00 AAA Aaa 1/12/2021 1/20/2021 139,988.35 0.42 26.13 136,693.73139,992.66 CARMX 2020-3 A3
DTD 07/22/2020 0.620% 03/17/2025
14315FAD9 138,157.67 AAA NR 7/14/2020 7/22/2020 138,133.99 0.62 38.07 136,236.33138,143.87 GMCAR 2020-3 A3
DTD 08/19/2020 0.450% 04/16/2025
362590AC5 221,766.36 NR Aaa 8/11/2020 8/19/2020 221,715.62 0.46 41.58 218,122.94221,735.93 GMALT 2021-3 A4
DTD 08/18/2021 0.500% 07/21/2025
36262XAD6 225,000.00 AAA NR 8/10/2021 8/18/2021 224,991.88 0.50 34.38 213,796.60224,993.68 KCOT 2021-1A A3
DTD 04/14/2021 0.620% 08/15/2025
50117TAC5 155,000.00 NR Aaa 4/6/2021 4/14/2021 154,968.29 0.62 42.71 147,328.46154,977.16 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 220,000.00 AAA NR 4/20/2021 4/28/2021 219,976.86 0.38 37.16 213,074.80219,983.06 KCOT 2021-2A A3
DTD 07/28/2021 0.560% 11/17/2025
50117XAE2 370,000.00 NR Aaa 7/20/2021 7/28/2021 369,986.05 0.56 92.09 348,438.76369,989.05 HAROT 2021-3 A3
DTD 08/25/2021 0.410% 11/18/2025
43815EAC8 305,000.00 AAA NR 8/17/2021 8/25/2021 304,995.55 0.41 45.16 291,948.68304,996.44 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
14316NAC3 120,000.00 AAA NR 1/20/2021 1/27/2021 119,976.29 0.34 18.13 116,976.60119,983.20 HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
43815GAC3 285,000.00 NR Aaa 11/16/2021 11/24/2021 284,939.92 0.89 69.67 272,292.36284,948.58 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 300,000.00 AAA NR 4/13/2021 4/21/2021 299,935.35 0.52 69.33 291,229.65299,951.34 CARMX 2021-3 A3
DTD 07/28/2021 0.550% 06/15/2026
14317DAC4 610,000.00 AAA Aaa 7/21/2021 7/28/2021 609,899.66 0.55 149.11 586,144.12609,918.68 FORDO 2022-A A3
DTD 01/24/2022 1.290% 06/15/2026
345286AC2 255,000.00 AAA NR 1/19/2022 1/24/2022 254,969.71 1.29 146.20 244,395.34254,972.70 BMWOT 2022-A A3
DTD 05/18/2022 3.210% 08/25/2026
05602RAD3 380,000.00 AAA Aaa 5/10/2022 5/18/2022 379,980.24 3.21 203.30 376,147.03379,980.80 WOART 2021-D A3
DTD 11/03/2021 0.810% 10/15/2026
98163KAC6 350,000.00 AAA NR 10/26/202 11/3/2021 349,952.33 0.81 126.00 332,984.44349,958.66 HART 2022-A A3
DTD 03/16/2022 2.220% 10/15/2026
448977AD0 720,000.00 AAA NR 3/9/2022 3/16/2022 719,972.28 2.22 710.40 698,928.34719,974.05 GMCAR 2022-1 A3
DTD 01/19/2022 1.260% 11/16/2026
380146AC4 285,000.00 AAA NR 1/11/2022 1/19/2022 284,975.23 1.26 149.63 272,365.35284,977.52 39 77
Item5.
© PFM Asset Management LLC pfmam.com

1.25 1.25%
Total Investments $128,559,648.37
40 78
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Appendix
|
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.

Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.

PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sources external to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion of the strategy rated by a NRSRO.

It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.

Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to be lower than the performance shown.

The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast, projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion as of the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and data presented are not necessarily indicative of future events or expected performance.

For more information regarding PFMAM's services or entities, please visit www.pfmam.com. © 2022 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 41 79
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Appendix
|
Important Disclosures
Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimated market value.

In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded.

Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns.

Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets.

Money market fund/cash balances are included in performance and duration computations.

Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.

Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.

MBS maturities are represented by expected average life. 42 80
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Appendix
|
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.

Agencies: Federal agency securities and/or Government-sponsored enterprises.

Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.

Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, and receivables.

Bankers’ Acceptance: 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 insurer.

Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.

Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector added or subtracted from the overall portfolio performance.

Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.

Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding on investment returns, while nominal yield does not.

FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.

Interest Rate: Interest per year divided by principal amount and expressed as a percentage.

Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.

Maturity: The date upon which the principal or stated value of an investment becomes due and payable.

Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.

Par Value: The nominal dollar face amount of a security.

Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the mortgage-backed security.
43 81
Item5.
© PFM Asset Management LLC pfmam.com

CITY OF ESCONDIDO
For the Quarter Ended June 30, 2022
Appendix
|
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.

Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and maturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.

Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whose decisions are binding on its members.

Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.

Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.

U.S. Treasury: The department of the U.S. government that issues Treasury securities.

Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period from purchase date to maturity, stated as a percentage on an annualized basis.

YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis. 44 82
Item5.

STAFF REPORT

August 10, 2022
File Number 0440-35

SUBJECT

ESTABLISHING THE PROPERTY TAX RATE AND FIXED CHARGE ASSESSMENTS FOR GENERAL

OBLIGATION BONDED INDEBTEDNESS

DEPARTMENT
Finance

RECOMMENDATION
It is requested that the City Council adopt Resolution No. 2022-112 to establish the property tax rate and fixed charge assessments for bonded indebtedness for Fiscal Year 2022/23.

Staff Recommendation: Approval (Finance: Christina Holmes, Director of Finance) Presenter: Michelle Collett, Revenue Manager

FISCAL ANALYSIS
A total of $4,80 7,000 will be needed for the annual debt service payments for the General Obligation Bonds. This represents $1,208,500 due in March 2023 and $3,598,500 due in September 2023.

PREVIOUS ACTION
The City Council certified the results of the November 2, 2004, election approving Proposition P on December 1, 2004. On July 12, 2006, the City Council authorized the issuance and sale of the General Obligation Bonds. The Bonds provided financing for the construction of three new fire stations, a replacement of Fire Station 1, and a combined Police and Fire Headquarters Facility.

The City of Escondido General Obligation Bonds, Election of 2004, Serie s A (Fire, Police, and Emergency Response Measure) were refunded on June 9, 2015 by the issuance of the General Obligation Refunding Bonds Series 2015. The Bonds mature on September 1, 2036.

BACKGROUND
General Obligation Bonds are secured by the legal obl igation to levy an ad valorem property tax upon taxable property within the City in an amount sufficient to pay the yearly debt service (principal and interest) payment. The debt service payment for March 2023 is $1,208,500 and the debt service payment for September 2023 is $3,598,500. The City is required to set a tax rate to meet these financial obligations. 83 Item6.

The assessed value for property in Escondido is used as the basis for applying the levy to taxable properties.

The starting point for calculating the property tax levy is the current year taxable assessed value. To this assessed value amount, a delinquency factor is applied. The City’s fiscal year 2021/22 delinquency rates for secured and unsecured property are estimated to be 1.07 percent and 0.74 percent, respectively, and the five-year average delinquency rates were 0.98 percent and 1.68 percent.

For Fiscal Year 2022/23, the City has used a 3 percent delinquency factor in calculating the property tax rate for both secured and unsecured property. The delinquency factors used in calculation of the property tax rate for the past five tax years 201 7/18 to 2021/22 were 3.5 percent, 2.5 percent, 2.5 percent, 3.0 percent, and 3.0 percent respectively.
% Increase

(Decrease)
Description FY 2021/22 FY 2022/23 in Valuation

Secured Assessed
Valuation $17,931,895,126.00 $19,176,547,629.00
Less Delinquency
Factor (537,956,853.78) (561,035,207.00)
Net Collectible
Secured 17,393,938,272.22 18,615,512,422.00 7.02%

Unsecured Assessed
Valuation 466,412,996.96 561,035,207.00
Less Delinquency
Factor (13,992,371.04) (16,831,056.21)
Net Collectible
Unsecured 452,419,996.96 544,204,150.79 20.3%

TOTAL ALL NET
COLLECTIBLE $17,846,358,269.18 $19,159,716,572.79 7.4% 84 Item6.

The County of San Diego has provided to the City the estimated 202 2/23 Fiscal Year assessed valuations to be used for the tax rate computation. A two -year comparison of the City’s secured and unsecured assessed valuations, as adjusted by the applicable an nual delinquency factor, is shown below. The net collectible assessed valuations increased by approximately 7.4 percent. This increase in net collectible assessed value will cause a decrease in the calculated property tax rate for fiscal year 2022/23.

In order to collect the required debt service, the property tax rate will be set at 0.0 1963 per $100 of assessed value. This represents $ 19.63 per $100,000 of assessed value, resulting in a decrease of $ 1.02 when compared to last year’s property tax rate of $20.65.

RESOLUTIONS
a. Resolution No. 2022-112
b. Resolution No. 2022 -112 Exhibit “A” Certificate and Calculation of Property Tax Rate for fiscal year 2022/23

ORDINANCES

ATTACHMENTS

85 Item6.

RESOLUTION NO. 2022-112

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

ESCONDIDO, CALIFORNIA, ESTABLISHING THE PROPERTY

TAX RATE AND FIXED CHARGE ASSESSMENTS FOR
BONDED INDEBTEDNESS FOR FISCAL YEAR 2022/23
WHEREAS, the City Council of the City of Escondido desires to establish the rate of property tax required to generate an amount of revenue from the tax base to provide sufficient moneys to pay debt service on the voter approved bonded indebtedness payable during the fiscal year ending June 30, 2023; and
WHEREAS, the total net taxable secured assessed valuation of the City of Escondido (“City”) is now estimated at $19,176,547,629.00 full value; and
WHEREAS, the total net taxable unsecured assessed valuation of the City is now estimated at $561,035,207.00 full value.

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

1. That the above recitations are true.

2. That the property tax rate within the City for the City of Escondido General Obligation Refunding Bonds, Series 2015 (Fire, Police, and Emergency Response Measure) for the fiscal year ending June 30, 2023, be and hereby is established at $0.01963 per $100 assessed value.

3. That the City Manager and the Director of Finance are each hereby directed and authorized to take any and all actions necessary to ensure that such property tax rate is enrolled with the County of San Diego Auditor & Controller, including, but not limited to, filing the Tax Amount Rate Certificate attached hereto as Exhibit “A” and is incorporated by this reference. 86 Item6.

Resolution No. 2022-112
Exhibit A

Page 1 of 2 ends

$61,520,000

CITY OF ESCONDIDO
San Diego County, California
General Obligation Refunding Bonds, Series 2015
(Fire, Police and Emergency Response Measure)

I, Christina Holmes, hereby certify that I am the Finance Director of the City of Escondido (the “City”), and as such I am authorized to execute this certificate on behalf of the City.

I hereby further certify that in connection with the City’s $61,520,000 General Obligation Refunding Bonds, Series 2015 (Fire, Police and Emergency Response Measure) the City Council has adopted the attached Resolution No. 2022-112 establishing the tax rate a nd fixed charge assessments for bonded indebtedness for 2022/23 and attached herewith is the summary for the calculation of the property tax rate for 2022/23.

IN WITNESS WHEREOF, I hereunto set my hand this 10th day of August, 2022.

CITY OF ESCONDIDO
By:

Christina Holmes, Director of Finance
87 Item6.

Resolution No. 2021-79
Exhibit A

Page 2 of 2 ends

Delinquency FY 22-23
Rate at Tax Rate

3.00% Calculation
Resources Required:

Annual Debt Service Payments:

March 2023 1,208,500.00$
September 2023 3,598,500.00
Total Required 4,807,000.00$
Resources Available:

Cash as of June 30, 2022 4,549,465.28
Debt Service Payment, September 2022 (3,540,375.00)
Payment of Trustee Fees (1,000.00)
Consultant Fees (3,050.00)
Remaining Cash Resources after next Debt Service Payment 1,005,040.28 FY 21-22 Property Tax Revenue Apportionment #12,
not yet recorded in G/L (estimated) 35,252.10
Total Resources Available for FY 22-23 Debt Service Payments 1,040,292.38 Net FY 22-23 Tax Revenues needed for Debt Service Requirement 3,766,707.62 Unsecured Calculation:

FY 22-23 Taxable Unsecured Assessed Valuation for the City - without Homeowners Exemptions 561,035,207.00
Delinquency Factor (16,831,056.21)
Estimated Net Collectible Unsecured Asssessed Valuation 544,204,150.79 FY 22-23 Tax Rate Per $100 of Net Assessed Value 0.020650 Total Unsecured times Tax Rate divided by $100 112,378.16 Total Remaining FY 22-23 Debt Service Coverage Requirement to be Levied against Secured Property 3,654,329.46$
Secured Calculation:

FY 22-23 Taxable Secured Assessed Valuation for the City - without Homeowners Exemptions 19,176,547,629.00
Delinquency Factor (561,035,207.00)
Estimated Net Collectible Secured Asssessed Valuation 18,615,512,422.00 Net FY 22-23 Collectible Taxable Secured Assessed Valuation divided by $100 $186,155,124.22
FY 22-23 Tax Rate per $100 of Net Assessed Value 0.01963 City of Escondido
General Obligation Refunding Bonds, Series 2015
Calculation of Debt Service Requirements
Description
Fiscal Year 2022-23
88 Item6.

STAFF REPORT

August 10, 2022
File Number 0610-90

SUBJECT
REMOTE TELECONFERENCE MEETINGS PURSUANT TO AB 361

DEPARTMENT
City Attorney

RECOMMENDATION
Request the City Council adopt Resolution No. 2022-117 by making the requisite findings and permit the City Council and its standing committees the flexibility to use modified Brown Act procedures for teleconferencing into meetings during this emergency period.

Staff Recommendation: Approval (Michael R. McGuinness, City Attorney and Zack Beck, City Clerk) Presenter: Michael R. McGuinness, City Attorney

FISCAL ANALYSIS
There does not appear to be a material fiscal impact, if any, in the adoption of Resolution No. 2022-117.

PREVIOUS ACTION
None.

BACKGROUND
A. AB 361.

California Assembly Bill 361 (AB 361) permits legislative bodies of state and local entities to continue to meet virtually and remotely through telephonic and internet means (i.e., via teleconference) during a proclaimed state of emergency, without having to meet the quorum, posting, access and other requirements of traditional teleconference meetings under the Ralph M. Brown Act (Brown Act) Open Meeting laws found in Government Code section 54950-54963. Legislative bodies may continue to meet virtually pursuant to AB 361 until the end of the current state of emergency, and during any future state of emergency, up until January 1, 2024.

The suspended and modified Brown Act teleconferencing requirements during the COVID -19 pandemic have now expired. If the City wishes to continue to implement modified rules for remote meetings, it must adopt Resolution No. 2022 -117 and thereafter re -adopt the emergency declaration to maintain 89 Item7.

these virtual procedures every 30 days. The matter will appear on the Consent Calendar in the future and the City Council may always pull the matter for further consideration and discussion.

Given the recent need to allow councilmembers to teleconference into City Council meetings, recent requests from the Planning Commission to make teleconference available, and with a resurgence in COVID cases, this need for flexibility has taken on greater importance.

B. AB 361’s Abbreviated Teleconferencing Rules.

AB 361 amended the Brown Act to add subdivision (e) to Government Code section 54953. This subdivision describes the circumstances and procedures for adopting abbreviated teleconferencing procedures during a proclaimed state of emergency, such as the current continuing COVID-19 pandemic.

Subdivision (e)(1) of the statute provides the circumstances and requirements under which a local legislative body may adopt the abbreviated teleconferencing procedures. Once a local legis lative body meets the requirements for adopting teleconferencing procedures, subdivision (e)(2) provides the requirements for the abbreviated teleconferencing procedures that the local legislative body must implement.

A local legislative body, such as the City of Escondido and its standing subcommittees, may elect to use AB 361’s abbreviated teleconferencing procedures where a state of emergency has been formally proclaimed, provided:

1. State or local officials have imposed or recommended measures to promote social distancing at the time the legislative body holds the meeting (Government Code section 54953(e)(1)(A); or

2. The legislative body holds a meeting for the purpose of determining by majority vote whether, as a result of proclaimed state of emergency, meeting in person would present imminent risks to the health and safety of attendees (Government Code section 54953(e)(1)(B)); or

3. The legislative body has determined that, as a result of the proclaimed state of emergency, meeting in person would continue t o present imminent risks to the health or safety of attendees (Government Code section 54953(e)(1)(C)).

AB 361 further imposes on local legislative bodies a duty to make factual findings to justify its election to continue to use the law’s abbreviated tele conferencing procedures. (Gov ernment Code section 54953(e)(3)). Local legislative bodies who wish to consider using AB 361’s abbreviated teleconferencing procedures must make the following factual findings and every 30 days thereafter:

1. The legislative body has reconsidered the circumstances of the state of emergency. 90 Item7.

2. Either of the following circumstances exist:
a. The state of emergency continues to directly impact the ability of the members to meet safely in person.
b. State or local officials continue to impose or recommend measures to promote social distancing.

AB 361 was designed not only to deal with COVID -19 but also to other types of states of emergency as defined in Government Code section 8625 of the California Emergency State Services Act.

C. Abbreviated Teleconference Requirements for Open Meetings.

Once a local legislative body has satisfied the requirements for using abbreviated teleconferencing, AB 361 provides:

1. Notice and agenda.

The legislative body must provide notice and post agendas as otherwise r equired under the Brown Act (setting aside traditional teleconferencing requirements), and must indicate on the notice the means by which the public may access the meeting and offer comment. The agenda must identify and include an opportunity for all perso ns to attend via a call -in option or internet -based service. The adoption of the Resolution allows for the waiver of certain usual Brown Act teleconferencing requirements, including the need for the agenda to be posted at all teleconferencing locations and public access at all teleconference locations. Moreover, the notices and agenda do not need to list the teleconferencing locations of the members of the legislative body, and a quorum of the members of the legislative body do not need to participate withi n physical boundaries of the territory over which the local legislative body exercises jurisdiction.

2. Public Comment.

Additionally, AB 361 includes new rules for public comment. Since the City does not require pre - registration for public comment nor does it require that public comments be submitted in advance, and allows for public comment to be provided to the Clerk for reading before the agenda item is discussed and adjudicated by the City Council, the City already conforms to AB 361’s requirements.

3. Disrupted Broadcasting Procedures.

In the event there is a broadcasting disruption of the meeting to the public by phone or by internet, the local legislative body is prohibited from taking further action on agenda items until public access is restored. Actions taken on agenda items during a disruption are subject to challenge. 91 Item7.

4. Subsequent Meetings Every 30 days Until January 1, 2024.

In order to maintain continuity of the election to use AB 361’s abbreviated teleconferencing procedures provided by statute, the legislative body must meet every 30 days to make the justifying factual findings by majority vote. This requirement may be completed by Consent Item.

CONCLUSION
It is recommended that the City Council adopt Resolution No. 2022 -117 by making the requisite findings and permit the City Council and its standing committees the flexibility to use modified Brown Act procedures for teleconferencing into meetings during this emergency period. Thereafter, the City Council can assess the need for such a continued declaration.

RESOLUTIONS
a. Resolution No. 2022-117

92 Item7.

RESOLUTION NO. 2022-117

A RESOLUTION OF THE CITY COUNCIL OF THE C ITY OF

ESCONDIDO, CALIFORNIA , AUTHORIZING REMOTE
TELECONFERENCE MEETINGS PURSUANT TO AB 361

WHEREAS, on March 4, 2020, Governor Newsom declared a statewide emergency arising from COVID-19 pursuant to Government Code section 8625; and
WHEREAS, in response to the novel coronavirus (“COVID -19”) pandemic, Governor Newsom adopted a series of Executiv e Orders allowing the legislative bodies of local governments to meet remotely via teleconference so long as other provisions of the Ralph M. Brown Act (“Brown Act”) were followed; and
WHEREAS, AB 361 was enacted amending the Brown Act to allow governing boards to continue holding virtual meetings outside the teleconferencing requirements of Government Code section 54953(b), if the board makes a finding that there is a proclaimed State of Emergency, and either (1) state or local officials have imposed or r ecommended social distancing measures, or (2) meeting in person would present imminent risks to the health or safety of attendees due to the emergency; and WHEREAS, social distancing measures have been imposed and implemented by State and/or the City to mitigate the spread of COVID-19; and
WHEREAS, the City Council believes the spread of COVID-19 poses an imminent risk to the health and safety of in person meeting attendees; and
WHEREAS, the City Council , on behalf of itself and its standing boards, commissions and committees, is committed to open and transparent governance in compliance with the Brown Act.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Escondido, California as follows:
93 Item7.

1. That the recitals set forth above are true and correct and fully incorporated into this Resolution by reference.

2. That the City Council recognizes that a State of Emergency in the State of California continues to exist due to the COVID-19 pandemic.

3. That the City Council recognizes that social distancing measures remain recommended by state and local officials.

4. That the City Council finds that under certain circumstances, holding in-person meetings may present imminent risks to the health or safety of council members and/or attendees due to the cause of the State of Emergency and that the cause of the State of Emergency directly impacts the ability of the governing board members to meet safely in person.

5. The City Council hereby authorizes the use of telec onferencing for all meetings in accordance with Government Code section 54953(e) and all other applicable provisions of the Brown Act, for a period of thirty (30) days prior to and from the adoption of this resolution, or such a time that the Governing Boa rd adopts a subsequent resolution in accordance with Government Code section 54953(e)(3) or as otherwise allowable under state law.

94 Item7.

STAFF REPORT

August 10, 2022
File Number 0697-20-10306

SUBJECT
SHORT-FORM RENT INCREASE APPLICATION FOR CAREFREE RANCH MOBILEHOME PARK (FILE NO. 0697-20-10306)

DEPARTMENT
City Manager Office; Housing & Neighborhood Services Division

RECOMMENDATION

Request the City Council review Carefree Ranch Mobilehome Park short-form application and if desired, adopt the Rent Review Board Resolution No. RRB 2022-103.

FISCAL ANALYSIS

Staff time and resources were expended to process the short-form application . Staff reviewed the application, evaluated the mobilehome park for code violations and conducted public outreach with the affected park residents, park manager and owners. No additional fiscal impact was incurred by the City.

PREVIOUS ACTION

On June 8, 1988, the Escondido residents voted to approve Proposition K to enact Mobilehome Rent Control in the City of Escondido (“City”). Under Proposition K, if a park owner wants to increase the rent on a mobilehome rent control space, they must file an application with the City and obtain approval from the Mobilehome Park Rent Review Board (“Board”). This Board is an independent body comprised of the City of Escondido Councilmembers.

In 1997, the Board adopted changes to the Mobilehome Rent Review Board Guidelines t o allow for the acceptance of a “short-form” application . The short -form is an abbreviated and less administrative burdensome application process for park owners and City staff. A park owner can request a rent increase based solely on the change in the San Diego Metropolitan Area ’s Consumer Price Index (“CPI”), All Items/All Urban Consumers component since the last increase was granted by the Board. The requested increase may not exceed ninety percent (90%) of the increase in CPI since the last application was granted 95 Item8.

by the Board, or 8% of the current rent, w hichever is less, subject to a two-year limit. Park owners a re allowed to apply one-year from the date the last application was submitted.

BACKGROUND

Carefree Ranch Park (“Park”) is an age -restricted park (55+) located at 211 North Citrus Avenue , Escondido, California. Out of the 184 spaces located in the park, the park owner is requesting an increase for 54 rent-controlled spaces. The amenities available for the residents include a furnished clubhouse, guest house, pool, jacuzzi, restrooms and laundry facilities.

Carefree Ranch Mobilehome Park submitted a short-form application on May 12, 2022 (Attachment “1”).

City staff reviewed the application and deemed the application to be complete on June 22, 2022. City staff mailed a letter on July 1, 2022, notifying the affected park residents of the application, proposed rent increase, upcoming residential meeting, and public hearing date (Attachment “2”).

The Carefree Ranch Mobilehome Park short-form application was available for review at the Carefree Ranch’s park office, Housing & Neighborhood Services Division counter at City Hall and the City’s website. City staff elected to post the application online on the Housing & Neighborhood’s website to promote transparency and remove potential barriers to access.

Housing & Neighborhood Services and Code Compliance staff facilitated an onsite meeting for the affected Carefree Ranch residents on July 11, 2022, at 6:00 p.m. Code Compliance conducted a lighting inspection on July 11 and completed their evaluation on July 12, 2022.

City staff hand delivered a notice to residents on August 2, 2022, informing them of the August 10, 2022 City Council Meeting (Attachment “3”).

THE RENT INCREASE APPLICATION:

The application appears to meet all the eligibility criteria for submittal of a short-form rent increase.

PARK OWNER’S REQUEST:

The Park is requesting an increase of 90% of the change in CPI for the period of December 31, 20 20, to December 31, 2021. Ninety percent of the change in the CPI is 5.714% for the period of consideration.

The average monthly rent for the residents affected by this application is $ 537.94. The average monthly increase requested for the 54 spaces is $30.74 per space, per month.

RESIDENT MEETING AND COMMENTS:

Individual letters were sent to each affected resident on July 1, 2022, notifying them of the application and the hearing date. The notice included information about a resident meeting scheduled at the park’s 96 Item8.

clubhouse on July 11, 2022 at 6 p.m. One resident was present and expressed to City staff “it bothers me that the Park in requ esting an increase when people are having trouble paying their bills.” The resident appointed himself to be the designated resident representative at the Public Hearing on August 10, 2022.

No other representatives have come forward and no tenants have objected.

It is important to note that five letters were returned to the City Hall by the post office as “not deliverable as addressed.” City staff reached out to the park management and discussed the returned letter s. Park staff stated two residents had passed away, one letter was intended for the park manager, and two were current residents. She offered to meet with each resident to hear their feedback since the letters were returned on July 14, 2022 after the resident meeting had occurred. No feedback was provided. City staff elected to hand delivered the letters to the residents.

Carefree Ranch offers a rent subsidy program for residents who are having difficulty paying their rent.

Management outlined the parameters and said residents need to apply for the Section 8 waitlist, fill out an application for the program at the office and show proof of current income to qualify (Attachment “4”).

CODE COMPLIANCE INSPECTION:

An inspection of the lighting and common areas was c onducted on July 11 and 12, 2022. One issue was identified: overgrown bushes encroaching into the roadway. Code Compliance mailed a letter to the park managers and owners informing them of the violation and re-inspected the park on Ju ly 27, 2022 (Attachment “5”). All violations were cleared ( Attachment “6”). According to the Mobilehome Rent Review Board Guidelines, no increase granted for any park shall go into effect until any existing code deficiencies are corrected.

ADDITIONAL FACTORS AFFECTING THE APPLICATION:

In conformance with the Rent Review Board Guidelines, the decision of the Board will be finalized by adoption of the Resolution confirming the findings of the Public Hearing. The Notice of Determination will be mailed to the applicant and residents immediately upon adoption of the Resolution. Park owners and management must give a 90-day notice of any rent increase to affected residents upon the adoption of the Resolution.

RESOLUTION
a. Resolution No. RRB 2022-103

ATTACHMENTS

1. Attachment “1” - Carefree Ranch Park Application

2. Attachment “2” - Resident Short-Form Letter Notification

3. Attachment “3” - 10-Day Public Hearing Notice

4. Attachment “4” - Carefree Ranch’s Rental Assistance Program for the Needy Residents 97 Item8.

5. Attachment “5” - Code Compliance Inspection

6. Attachment “6” - Code Compliance Letter Clearing Violations 98 Item8.

RESOLUTION NO. RRB 2022-103

A RESOLUTION OF THE CITY COUNCIL/ MOBILEHOME

RENT REVIEW BOARD OF THE C ITY OF ESCONDIDO,

CALIFORNIA AUTHORIZING A RENT INCREASE FOR

CAREFREE RANCH MOBILEHOME PARK
(File Number: 0697-20-10306)

WHEREAS, Article V of Chapter 29 of the Escondido Municipal Code is a codification of the Escondido Mobilehome Rent Protection Ordinance ("Ordinance") and provides for mobilehome space rent regulation; and
WHEREAS, the City of Escondido Mobilehome Park Rental Review Board ("Board") is charged with the responsibility of considering applications for rent increases; and WHEREAS, a short-form rent increase application pursuant to Section 12 of the Rent Review Board Guidelines was filed on May 12, 2022, (“Application”) by Carefree Ranch Mobilehome Park, LLC (“Park”), the owner of the rental spaces in Carefree Ranch Mobilehome Park, located at 201 North Citrus in Escondido; and
WHEREAS, the Application was deemed complete by City staff on June 22, 2022; and WHEREAS, this is the twenty-fifth (25th) rent increase application filed by the Park since the Ordinance became effective in 1988. The last rent increase was granted by Rent Review Board Resolution No. 2021-03 on July 14, 2021, for an increase of 1.528% percent, or approximately $7.17 per space, per month; and
WHEREAS, the Application stated the average monthly rent per affected space was $ 537.94 for the 54 spaces requested for a rent increase. The Park requested a rent increase in the amount of 90% percent of the change in the Consumer Price Index (“CPI”) for the period December 31, 2020, through December 31, 2021. The Application estimated this amount to be an average of $30.74 (5.714% increase of percent) per space, per month; and
99 Item8.

WHEREAS, a notice of the Park's application was mailed to all affected homeowners on July 1, 2022. Notice of the time, date, and place of the rent hearing before the Board was mailed to the Park and to all affected tenants on August 1, 2022; and
WHEREAS, on July 11 and July 12, 2022, a Mobilehome Park Rent Review Code Compliance Inspection Report ("Inspection Report") was completed. The Inspection Report noted one violation for overgrown bushes encroaching on the roadway; and
WHEREAS, on July 27, 2022, Code Compliance completed a reinspection and all violations were cleared; and
WHEREAS, on August 10, 2022, the Board held its public hearing. After an initial staff presentation, the Board invited testimony from Park ownership, residents of the Park, and other residents of the community at large; and
WHEREAS, after all present had been given an opportunity to speak, the hearing was closed.

Following an opportunity for discussion among the Board members, and clarifying questions to the parties and staff, the Board voted to grant an average rent increase of $ 30.75 per space, per month, for the 54 spaces.

NOW, THEREFORE, BE IT RESOLVED by the Rent Review Board of the City of Escondido, California as

follows:

1. That the above recitations are true.

2. That the Board finds that the Carefree Ranch Mobilehome short-form application increase is consistent with the Guidelines, and approves the rent increase Application submitted by Carefree Ranch Park, LLC.
100
Item8.
101
Item8.
102
Item8.
103
Item8.
104
Item8.
105
Item8.
106
Item8.

Attachment "5”
107
Item8.

Attachment "5”
108
Item8.

Attachment "5”
109
Item8.

Housing & Neighborhood Services
201 North Broadway, Escondido, CA 92025
Phone: 760-839-4841
July 1, 2022
Resident
211 N. Citrus Avenue
Escondido, CA 92007
Re: Short-form Rent Increase Application Submitted by Carefree Ranch Mobilehome Park Dear Resident:

A short-form application was submitted by Carefree Ranch Mobilehome Park to the City of Escondido requesting a rent increase on May 12, 2022. The application was reviewed and determined to be complete on June 22, 2022.

Under the City’s Mobilehome Rent Review Board Guidelines, a park owner may request an increase using the “short form” process. To learn more about this process, please go to the City of Escondido’s website MOBILEHOME RENT REVIEW BOARD (escondido.org) or see Section 12 in the attached letter.

In accordance with the Guidelines, your park owner is requesting an increase based in the change in the San Diego Metropolitan Area Consumer Price Index also known as “CPI.” The requested increase may not exceed ninety percent (90%) of the CPI from December 31, 2020 through December 31, 2021 (which is 5.714%). There are fifty-four spaces impacted by this request, and the rent increase will range from $23.64-$41.44 with the average rent increase of $30.74 per space, per month.

There will be a meeting on Monday, July 11 at 6:00 p.m. in the Carefree Ranch Clubhouse to discuss the short-form hearing process. Please feel free to attend this meeting and ask any questions you have regarding the hearing process or discuss any concerns. A resident representative will be chosen at this meeting. This designated representative will be given an opportunity to speak on behalf of the affected tenants at the rent review board public hearing.

The complete Carefree Ranch Mobilehome Park Short-Form application is available for your review at the park office, Housing & Neighborhood Services’ Division counter at City Hall during normal business hours (Monday – Friday from 8 a.m. – 5 p.m.), and the City’s website. If you feel you are not subject to rent control, please notify the City, in writing, stating the reason. A written letter should be directed to Holly Nelson, Housing & Neighborhood Services Attn: Mobilehome Rent Control Administration, 201 N.

Broadway, Escondido, CA 92025.

The Mobilehome Rent Review Board will consider the short-form application at the public hearing held on August 10, 2022, at 5 p.m., at the City Council Chambers, 201 North Broadway, Escondido, CA 92025. If you wish to present information or speak to the Board about the request, you may fill out a speaker’s slip available in the lobby of the Council Chambers and give it to the City Clerk. If you are protesting the short-form application, you should register in the lobby prior to the opening of the public hearing.

If you have any questions, please call 760-839-4518 or email me at [email protected] Sincerely,
Holly Nelson, LCSW
Housing & Neighborhood Services
Attachment "2"
110
Item8.

XX
XX

Page 2 ends

CITY OF ESCONDIDO

MOBILEHOME RENT REVIEW BOARD GUIDELINES

Excerpt Pertaining to Short-form Application

Section 12: The Short-form Rent Increase Application.

A. In lieu of using the hearing process and policies set forth in Sections 1 through 9, a park owner may request an increase using the “short form” process. The following principles for the application review and public hearing process will apply only to the “short form” application:

B. The park owner must use the standard short-form application prepared by the City of Escondido.

C. A short-form application will only be considered if the park owner’s request appli es to 100% of all spaces in the park which are subject to rent control.

D. The park owner’s request for a rent increase must be based solely on the change in the San Diego Metropolitan Area Consumer Price Index, All Items/All Urban Consumers component ("CP I") since the last increase granted by the Board. The requested increase may not exceed ninety percent (90%) of the increase in CPI since the last increase granted by the Board, or 8% of the current rent, whichever is less, subject to the two-year limit in Section J.

E. The Board will consider the short -form application at a public hearing. The staff report will not contain analysis of any of the factors required by Section 29 -104(g) of the Rent Protection Ordinance other than the change in CPI. In deter mining whether the amount of the park owner’s requested increase is appropriate, the Board must presume that up to ninety percent (90%) of the Consumer Price Index is a fair, just, and reasonable rent increase. However, the Board may consider any of the other Ordinance factors at the request of either the park owner or the affected residents in determining that a lesser increase is fair, just, and reasonable.

F. No application fee is required for a short-form application. Any park owner granted any increase as a result of using the short-form application is exempt from the annual per space administration fee imposed by the City pursuant to Resolution No. 2005 -132, or any successor resolution. The period of exemption applies to those spaces for which the rent level was set as a result of the short -form application process, and lasts until another increase is granted by the Board.

G. The City must notify the residents of the park owner’s request for a short-form rent increase at least 30 days prior to the hearing. The park owner must provide to the City the names, addresses, and mailing labels for all individuals affected by the application, and the City will mail notice of the application and the date of the hearing to the affected residents.

Attachment "2" 111
Item8.

XX
XX

Page 3 ends

CITY OF ESCONDIDO

MOBILEHOME RENT REVIEW BOARD GUIDELINES

Excerpt Pertaining to Short-form Application

H. Any interested person will be allowed to speak at the public hearing on their own behalf, and the Board’s consideration of their comments will be limited to the factors set forth in Section 29 -104(g) of the Rent Protection Ordinance. If residents from a majority of the spaces in the park which are subject to rent control personally appear at any time prior to the close of the public hearing and state their objection to the short -form application, the Board shall have the option (after verifying the residency status of those objecting) not to approve the short-form application.

I. If the Board denies a short form application or grants an increase less than t he amount requested in the short-form application, the owner must be permitted to submit a regular application pursuant to Sections 1 through 10. The park owner shall have 30 days from the date of the board's decision on the short-form application to noti fy the City whether or not they are accepting the decision from the short form application, or whether they wish to file a regular application. The filing of a regular application shall render all of the proceedings from the short form application null and void.

J. The short form process may not apply to any period in excess of 2 years.

K. No application for a short -form rent increase will be accepted within a period of one year from the date the last application was submitted.

L. The City’s Code Enforceme nt Division will inspect the common areas of the park for health and safety violations, and submit a report concerning the condition of the facilities. No increase shall go into effect until any existing code deficiencies are corrected.

M. As a condition of using a short form application, the park owner agrees to the following:

1. Upon the closure of an in -place transfer, or other conveyance of a rent -controlled mobilehome, the park owner may increase the space rent, up to and including, eight percent (8%) of the Average space rent or eight percent (8%) of the Final space rent. Park owner further agrees that rent -controlled space rent shall not exceed $950 on July 1, 2020.

Beginning in 2021, the City shall adjust the $950 limit each year, on July 1, to reflec t any increase in the CPI. Space rents above $950 on July 1, 2020, shall not be automatically decreased because of this Subsection.

2. As used herein, the following definitions apply:
a. “Average space rent” means the total amount of rent charged for all s paces in a mobilehome park occupied by a resident owned mobilehome, divided by the number of spaces in the park occupied by a resident owned mobilehome , calculated on the most recent annual rent control survey.
b. “Final space rent” means the rent charged by the owner to the departing tenant for the final month of rent before the in-place transfer.
c. “In-place transfer” means the transfer of the ownership of a mobilehome with the mobilehome remaining on the mobilehome lot following the transfer.

Attachment "2" 112
Item8.

XX
XX

Page 4 ends

CITY OF ESCONDIDO

MOBILEHOME RENT REVIEW BOARD GUIDELINES

Excerpt Pertaining to Short-form Application

3. No increase may be imposed pursuant to Subsection M when an existing mobilehome owner or resident replaces an existing mobilehome with another mobilehome, occu pying the same mobilehome space. However, space rent may be increased to market rate when a park owner also owns the mobilehome or no mobilehome sits on a space.

4. No increase may be imposed pursuant to Subsection M where title to the mobilehome passes to on e or more person(s) who, at the time of the title transfer, ( a) was/were also lawful, authorized resident(s) of the mobilehome, or ( b) were/are parents, siblings, children, of the mobilehome owner and the mobilehome remains in the same space.

5. Space rent may be increased pursuant to Subsection M once every twelve months.

6. Rent increases authorized by this regulation shall be in addition to any other space rent increases authorized by the City of Escondido’s Mobilehome Rent Review Board.

7. To ensure effective oversight of vacancy control, each park owner shall submit an accurate and complete annual rent control survey to the City, using a spreadsheet provided by the City, no later than October 15th each year. At a minimum, the annual rent control survey shall identify:
a. each space
b. the tenant’s last name,
c. the amount of monthly rent charged for each space on July 1st, d. a list of itemized utilities included in the space rent, e. the type of space (rent controlled, park owned, long-term leased, vacant, or other), f. a calculation of the Average space rent for spaces occupied by a resident owned mobilehome in the mobilehome park , including both rent controlled and non -rent controlled spaces,
g. the date of the last vacancy control rent increase, and h. the date of last short-form rent increase hearing. The City shall validate the accuracy of the Average space rent calculations by making the report available to the public.

8. Park owner agrees to not use of the short form application process for five years if the City’s Mobilehome Park Rent Review Board determines that the park owner increased space rent beyond the levels provided in Subsection M.

Attachment "2"
113
Item8.

Attachment “6”
114
Item8.

CITY OF ESCONDIDO
Mobilehome Rent Control Administration
201 North Broadway
Escondido, CA 92025-2798
(760) 839-4841

RESIDENT NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the City Council of the City of Escondido, sitting as the Mobilehome Rent Review Board, will hold a public hearing to consider the following item:

The rental increase application submitted by Carefree Ranch Mobilehome Park, 211 North Citrus Avenue, Escondido, CA 92027.

A copy of the application is available for review at Carefree Mobilehome Park Office, Housing Division at City Hall, 201 N. Broadway, Escondido, CA 92025, and the City’s website. A copy of the staff report will be available at the Housing Division counter five days prior to the hearing date.

A hearing to determine whether or not a rent increase will be granted has been scheduled before the Rent Review Board on August 10, 2022, at 5 p.m. in the City Council Chambers, 201 N. Broadway, Escondido, CA 92025. This will be an in -person meeting and additional safety protocols may be in place . If you are protesting the short -form application, you should register in the foyer prior to the opening of the public hearing. The purpose of the hearing is for the Rent Review Board to obtain input from the owner and tenants about why an increase should, or should not be, granted. The Rent Review Board is neither required to grant an increase, nor is it allowed to grant a decrease in the current rent.

If you challenge the decision of the Board in court, you may be limited to raising only those issues you or someone else raised at the public hearing described in this notice, or in written correspondence delivered to the Rent Review Board at or prior to the public hearing.

The hearing is the time and place for you to express your opinion about the rent increase request. If you desire, you may also submit information in writing to Mobilehome Rent Control Admi nistration in the Housing Division.

Written information will be included in the reading file of the Rent Review Board (City Council) prior to the hearing.

At the hearing, the Rent Review Board may make a determination about the rent increase or they may r equest additional information from the owner and/or tenants before they make a decision. If additional information is requested, a new hearing will be scheduled. If an increase is granted, the owner must notify you in writing of the amount of the increase at least 90 days before the increase goes into effect.

Sincerely,
Attachment "3"
115
Item8.

Holly Nelson, Housing & Neighborhood Services Manager

Attachment "3"
116
Item8.

Attachment "4"
117
Item8.

Attachment "4"
118
Item8.

Attachment "4"
119
Item8.

STAFF REPORT

August 10, 2022
File Number 0650-20

SUBJECT

REDUCTION AND RETENTION OF SPEED LIMITS AND ESTABLISHMENT OF BUSINESS ACTIVITY

DISTRICT FOR GRAND AVENUE

DEPARTMENT
Development Services/Engineering

RECOMMENDATION
Request the City Council adopt Resolution No. 2022 -113 amending the traffic schedule for the speed zone at two locations; adopt Ordinance No. 2022-10R retaining the posted speed limits on eight (8) street segments; and adopt Ordinance No. 2022 -12 determining Grand Avenue from Centre City Parkway to South Juniper Street to be a Business Activity District and declare a prima facie speed limit of 25 MPH.

Staff Recommendation: Approval (Development Services: E. Alberto)

FISCAL ANALYSIS
There is no cost associated with retaining speed limits, as all existing speed limit signs and sign posts will remain in place.

There will be an approximate cost of $400.00 associated with the establishing Grand Avenue from Centre City Parkway to Juniper Street to be a Business Activity District for the installation of two new 25 MPH street signs and to remove and replace two existing signs with new 25 MPH signs. The funds for these signs are budgeted in the Traffic Infrastructure Fund.

There will be an approximate cost of $ 600.00 associated with the reduction of speed limit for Chestnut Street and Broadway to remove and replace six (6) speed limit signs. The funds for these signs are budgeted in the Traffic Infrastructure fund.

BACKGROUND
Speed plays a critical role in the cause and severity of crashes. In a collision between a vehicle and a pedestrian, for instance, speed influences the severity of injury and fatality risk of a pedestrian. Studi es have shown that the severity of the injury and likelihood of fatality to the pedestrian increases as speed increases. According to the 1999 National Highway Traffic Safety Administration (NHTSA) “Literature Review on Vehicle Travel Speeds and Pedestrian Injuries” study, fatality and serious injury rates increase substantially when travel speeds rise.

In October 2021, Governor Gavin Newsom signed Assembly Bill (AB) 43. The bill allows the City to maintain and enforce existing speed limits and roll back speed limit increases that happened several years ago , if the increase was not based on any physical changes to the design of the street. AB 43 took effect on January 1, 2022 and made a number of additions and modifications to the California Vehicle Code (CVC) that authorize local jurisdictions to set lower speed limits on certain streets.

CVC Section 40802 requires that Engineering and Traffic Surveys (E&TS) are conducted to establish speed limits and to enforce those speed limits using radar or other speed measuring devices. These surveys must be updated periodically (every five, seven, or 14 years, depending upon specific criteria), to ensure the speed limits reflect current conditions as dictated by the 2022 CVC. These surveys must be conducted in accordance with applicable provisions of Section 627 “Engineering and Traffic Survey” of the CVC.

CVC Section 22358.6 requires local authorities to round speed limits to the nearest five (5) miles per hour of the 85th percentile of the free -flowing traffic. In accordance with CVC Section 22358.8, if a local authority, after completing an E&TS, finds that the speed limit is still more than is reasonable or safe, the local authority may, by ordinance, retain the current speed limit or restore the immediately prior speed limit if that speed limit was established with an E&TS and if a registered engineer has evaluated the section of highway and determined that no additional general purpose lanes have been added to the roadway since completion of the traffic survey that established the prior speed limit.

I. Speed Limit Reductions
An E&TS was conducted on two (2) roadway segments, Chestnut Street between Juniper Street and Fifth Avenue and Broadway between Jesmond Dene Road and Rincon Avenue/Country Club Lane. The results of these E&TS show that the posted speed limit for these segments could be reduced by 5 MPH. The results of these surveys were presented to the Traffic and Community Safety Commission on July 14,2022.

The Commission voted to recommend speed limit reductions.

II. Retention of Existing Speed Limits by Ordinance
Table 1 shows the results of the E&TS for eight (8) street segments that were surveyed by Development Services staff. Based on recent E&TS, the 85 th percentile speed would result in the speed limit increasing from the existing posted speed limit. The last column shows the recommended speed limit to be retained for each street segment as evaluated by a registered engineer.

Table 1: Comparison of existing speed limit and speed limit if rounded from 85th percentile speed.

Street Name
Segment Survey
Date
Rounded 85th
Percentile
Speed (MPH)
Retained
Speed Limit
(MPH) From To
Juniper Street 2nd Avenue 5th Avenue Oct. 2021 35 30
Ninth Avenue Hale Avenue Auto Park Way Oct. 2021 35 30
(25 WCAP)
Ninth Avenue Escondido
Boulevard Juniper Street Oct. 2021 30 25
Lake Wohlford
Road Valley Parkway City Limits Nov. 2021 40 35
Vista Avenue Broadway Conway Drive Jan. 2022 40 35
Bennett
Avenue
El Norte
Parkway City Limits Jan. 2022 40 35
Country Club
Lane I-15 Centre City
Parkway April 2022 45 35
Broadway Highway 78/
Lincoln Parkway
El Norte
Parkway
March
2022 40 35
*As used in the table above, “WCAP” shall mean “when children are preset.” Staff recommends retaining the existing posted speed limit on eight (8) street segments by ordinance as provided by CVC Section 22358.8. The speed surveys listed in Table 1 have been evaluated. The E&TS finds that rounding of the 85th percentile speed would result in a speed limit that is more than is reasonable or safe, and these sections of highway have had no additional general -purpose lanes added to the roadway since completion of the traffic survey that established the prior speed limit.

III. Grand Avenue Business Activity District
CVC Section 22358.9 was added to the CVC as part of AB 43. This section permits a local authority to declare by ordinance a 25 or 20 miles per hour prima facie speed limit to a business activity district. The code requires that the business activity district not have more than four -lanes and a maximum posted speed limit of 30 MPH immediately prior to and after the business activity district when posting 25 MPH.

In addition, t o be considered a business activity district, the roadway must meet three of the following requirements:

1. No less than 50 percent of the contiguous property fronting the highway consists of retail or dining commercial uses, including outdoor dining, that open directly onto sidewalks adjacent to the highway.

2. Parking located alongside the roadway.

3. Traffic control signals or stop signs regulating traffic flow on the highway, located at intervals of no more than 600 feet.

4. Marked crosswalks not controlled by a traffic control device.

Staff evaluated Grand A venue between Quince St reet and the Valley B oulevard/Grand Avenue split to determine the limits that meet the requirements of CVC 22358.9 to declare a business activity district.

The portion of Grand Avenue west of Quince St reet is 35 MPH, therefore, the segment between Quince Street and Centre City Parkway cannot meet the requirements to reduce the speed limit to 25 MPH. The traffic controls for the segment between S outh Juniper Street and the Valley Boulevard/Grand Avenue split are greater than 600 -feet and there are no uncontrolled marked crosswalks within this segment, therefore, the segment does not meet the requirements to be considered a business activity district.

Staff has determined the limits of Grand Avenue between Centre City Parkway and S outh Juniper Street meet the requirements to be considered a business activity district. The posted speed limits immediately west and immediately east of these limits are posted at 30 MPH meeting the requirements to set the prima facie speed limit 25 MPH.

IV. Recommendation
The Transportation and Community Safety Commission voted to recommend approval to retain the existing speed limits for four (4) street segments at their meeting on February 24, 2022 ; they also recommended at the July 14, 2022 meeting, approval to retain the existing speed limits on three (3) additional street segments, to determine Grand Avenue from Centre City Parkway to South Juniper Street a Business Activity District, setting the prima facie speed limit to 25 mile per hour; and reducing the speed limits on Chestnut Street from Juniper Street to Fifth Avenue to 30 MPH and on Broadway from Rincon Road/Country Club Lane to Jesmond Dene Road to 40 MPH.

Table 2 below, presents a summary of recommended actions.

Table 2 Summary of Speed Limit Actions
Street Name Segment Action
From To
Chestnut Street Juniper Street Fifth Avenue Reduce to 30 MPH by council approval
Broadway Rincon Avenue/Country
Club Lane Jesmond Dene Road Reduce to 40 MPH
by council approval
Juniper Street 2nd Avenue 5th Avenue Retain 30 MPH
by ordinance
Ninth Avenue Hale Avenue Auto Park Way Retain 30 MPH
by ordinance
Ninth Avenue Escondido Boulevard Juniper Street Retain 25 MPH by ordinance
Lake Wohlford Road Valley Parkway City Limits Retain 35 MPH by ordinance
Vista Avenue Broadway Conway Drive Retain 35 MPH
by ordinance
Bennett Avenue El Norte Parkway City Limits Retain 35 MPH by ordinance
Country Club Lane I-15 Centre City Parkway Retain 35 MPH by ordinance
Broadway Highway 78/ Lincoln
Parkway El Norte Parkway Retain 35 MPH
By ordinance
Grand Avenue Centre City Parkway S Juniper St
Determine roadway to
be a Business Activity
District and declare
prima facie speed limit
25 MPH by ordinance

RESOLUTIONS
a. Resolution 2022-113

ORDINANCES
a. Ordinance 2022-10R
b. Ordinance 2022-10R - Exhibit “A” – Street Segments to Retain Speed Existing Speed Limit c. Ordinance 2022-12

RESOLUTION NO. 2022-113

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

ESCONDIDO, CALIFORNIA, AMENDING THE TRAFFIC

SCHEDULE FOR THE SPEED ZONE AT TWO LOCATIONS

WHEREAS, Escondido Municipal Code Section 28 -5(12) provides that the City Council shall establish a Traffic Schedule for Speed Zones; and
WHEREAS, the City Council desires at this time and deems it to be in the best public interest to amend said traffic schedule.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Escondido, California, as follows:

1. That the above recitations are true.

2. That the City Council approves Resolution No. 202 2-113 amending the Traffic Schedule for the Speed Zone to reflect a decreased speed limit as follows:

Street Name
Segment Existing
Posted Limit
(MPH)
85th
Percentile
Speed
(MPH)
Recommended
Speed Limit
(MPH)* From To
Chestnut Street Juniper Street Fifth Avenue 35 34 30
Broadway
Rincon
Avenue/Country
Club Lane
Jesmond Dene
Road 45 44 40

ORDINANCE NO. 2022-10R

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF

ESCONDIDO, CALIFORNIA, RETAINING THE EXISTING

SPEED LIMIT ON EIGHT STREET SEGMENTS

The City Council of the City of Escondido, California does ordain as follows:

SECTION 1. The City Council makes the following findings:
a) On October 8, 2021, the State of California approved Assembly Bill 43, which took effect January 1, 2022 and amends the California Vehicle Code as it relates to speed limits. b) California Vehicle Code Section 40802 requires that enforcement of declared prima facie speed limits on a particular section of a highway or state highway be justified by an Engineering and Traffic Survey conducted no more tha n seven years prior to the date of the alleged violation . However, if a registered engineer evaluates the section of the highway and determines that no significant changes in roadway or traffic conditions have occurred including, but not limited to, changes in adjoining property or land use, roadway width, or traffic volume, then enforcement of a declared prima facie speed limit on a particular section of a highway or state highway may be justified by an Engineering and Traffic Survey conducted no more than 14 years prior to the date of the alleged violation. c) California Vehicle Code section 22357 provides that w henever a local authority determines upon the basis of an engineering and traffic survey that a speed greater than 25 miles per hour would facilitate the orderly movement of vehicular traffic and would b e reasonable and safe upon any street other than a state highway otherwise subject to a prima facie limit of 25 miles per hour, the local authority may by ordinance determine and declare a prima facie speed limit of 30, 35, 40, 45, 50, 55, or 60 miles per hour or a maximum speed limit of 65 miles per hour, whichever is found most appropriate to facilitate

the orderly movement of traffic and is reasonable and safe. California Vehicle Code section 22357 further requires that the declared prima facie or maximum speed limit shall be effective when appropriate signs giving notice thereof are erected upon the street and shall not thereafter be revised except upon the basis of an engineering and traffic survey. California Vehicle Code section 22357 does not apply to any 25-mile- per-hour prima facie limit which is applicable when passing a school building or the grounds thereof or when passing a senior center or other facility primarily used by senior citizens. d) California Vehicle Code section 22358 provides that whenever a local authority determines upon the basis of an engineering and traffic survey that the limit of 65 miles per hour is more than is reasonable or safe upon any portion of any street other than a state highway where the limit of 65 miles per hour is applicable, the local authority may by ordinance determine and declare a prima facie speed limit of 60, 55, 50, 45, 40, 35, 30, 25, 20, or 15 miles per hour, whichever is found most appropriate to facilitate the orderly movement of traffic and is reasonable and safe, which declared prima facie limit shall be effective when appropriate signs giving notice thereof are erected upon the street. e) Section 22358.8 was added to the California Vehicle Code as part of Assembly Bill 43, and allows the following:
(a) If a local authority, after completing an engineering and traffic survey, finds that the speed limit is still more than is reasonable or safe, the local authority may, by ordinance, retain the current speed limit or restore the immediately prior speed limit if that speed limit was established with an engineering and traffic survey and if a registered engineer has evaluated the section of highway and determined that no additional general purpose lanes have been added to the roadway since completion of the traffic survey that established the prior speed limit.

(b) This section does not authorize a speed limit to be reduced by any more than five miles per hour from the current speed limit nor below the immediately prior speed limit. (c) A local authority shall issue only warning citations for violations of exceeding the speed limit by 10 miles per hour or less for the first 30 days that a lower speed limit is in effect as authorized by this section.
f) Escondido Municipal Code Section 28-5 provides the City Council authority to establish, amend traffic schedules for speed zones.

SECTION 2: That upon consideration of the staff report, the recommendation of the Transportation Community and Safety Commission, and provisions of the State of California Vehicle Code (as amended by Assembly Bill 43 ), this City Council finds that retaining the speed limits for the street segments attached and incorporated to this Ordinance as Exhibit “A” is in the best interest of the City.

SECTION 3. ENVIRONMENTAL REVIEW. The proposed Ordinance is not a project under CEQA pursuant to CEQA Guidelines section 15378(b)(5), as the proposed updates are solely changes to the City’s administrative processes, under the authority provided by state law, and consist of administrative activities of the City that will not result in direct or indirect physical changes to the environment.

SECTION 4. SEVERABILITY. If any section, subsection sentence, clause, phrase , or portion of this ordinance is held invalid or unconstitutional for any reason by any court of competent jurisdiction, such portion shall be deemed a separate, distinct, and independent provision and such holding shall not affect the validity of the remaining portions.

SECTION 5. As of the effective date of this ordinance, all ordi nances or parts of ordinances in conflict herewith are hereby repealed.

SECTION 6. The City Clerk is hereby directed to certify to the passage of this ordinance and to cause the same or a summary to be published one time within 15 days of its passage in a newspaper of general circulation for the City of Escondido.

Ordinance No. 2022-10R
Exhibit “A”

Page 1 of 1 ends

ORDINANCE NO. 2022-10
EXHIBIT “A”

Street Name Segment Retained Speed
Limit (MPH) From To
Juniper Street 2nd Avenue 5th Avenue 30
Lake Wohlford Road Valley Parkway City Limits 35
Ninth Avenue Hale Avenue Auto Park Way 30
(25 WCAP*)
Ninth Avenue Escondido Boulevard Juniper Street 25
Vista Avenue Broadway Conway Drive 35
Bennett Avenue El Norte Parkway City Limits 35
Country Club Lane I-15 Centre City Parkway 35
Broadway Highway 78/Lincoln Pkwy El Norte Parkway 35
(25 WCAP*)
*When Children Are Present

ORDINANCE NO. 2022-12

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF

ESCONDIDO, CALIFORNIA, TO DETERMINE GRAND

AVENUE FROM CENTRE CITY PARKWAY TO S JUNIPER

STREET AS A BUSINESS ACTIVITY DISTRICT AND DECLARE
THE PRIMA FACIE SPEED LIMIT TO BE 25 MPH

The City Council of the City of Escondido, California does ordain as follows:

SECTION 1. The City Council makes the following findings:
a) On October 8, 2021, the State of California approved Assembly Bill 43, which took effect January 1, 2022, and amends the California Vehicle Code as it relates to speed limits. b) California Vehicle Code Section 22352 defines prima facie speed limits as when signs have been erected giving notice thereof for twenty-five miles per hour on any highway in any business district. c) Section 22358.9 was added to the California Vehicle Code as part of Assembly Bill 43, and allows the following:
(a) (1) Notwithstanding any other law, a local authority may, by ordinance, determine and declare a 25 or 20 miles per hour prima facie speed limit on a highway contiguous to a business activity district when posted with a sign that indicates a speed limit of 25 or 20 miles per hour. (2) The prima facie limits established under paragraph (1) apply only to highways that meet all of the following conditions:
(A) A maximum of four traffic lanes.

(B) A maximum posted 30 miles per hour prima facie speed limit immediately prior to and after the business activity district, if establishing a 25 miles per hour speed limit. (C) A maximum posted 25 miles per hour prima facie speed limit immediately prior to and after the business activity district, if establishing a 20 miles per hour speed limit. (b) As used in this section, a “business activity district” is that portion of a highway and the property contiguous thereto that includes central or neighborhood downtowns, urban villages, or zoning designations that prioritize commercial land uses at the downtown or neighborhood scale and meets at least three of the following requirements in paragraphs (1) to (4), inclusive:
(1) No less than 50 percent of the contiguous property fronting the highway consists of retail or dining commercial uses, including outdoor dining, that open direc tly onto sidewalks adjacent to the highway.
(2) Parking, including parallel, diagonal, or perpendicular spaces located alongside the highway.
(3) Traffic control signals or stop signs regulating traffic flow on the highway, located at intervals of no more than 600 feet.
(4) Marked crosswalks not controlled by a traffic control device. (c) A local authority shall not declare a prima facie speed limit under this section on a portion of a highway where the local authority has already lowered the speed limit as permitted under Sections 22358.7 and 22358.8.

(d) A local authority shall issue only warning citations for violations of exceeding the speed limit by 10 miles per hour or less for the first 30 days that a lower speed limit is in effect as authorized by this section.
d) Grand Avenue from Centre City Parkway to S Juniper Street is a four-lane roadway; the posted speed limit to the west of Centre City Parkway and to the east of S Juniper Street is 30 miles per hour; and meets requirements (1), (2), and (3) of California Vehicle Code Section 22358.9(b) meeting the requirements of a “business activity district” for a posted speed limit of 25 miles per hour.

SECTION 2: That upon consideration of the staff report, the recommendation of the Transportation Community and Safety Commission, and provisions of the State of California Vehicle Code (as amended by Assembly Bill 43), this City Council finds that establishing Grand Avenue from Centre City Parkway to S Juniper Street as a Business Activity District, w ith a prima facie speed limit of 25 miles per hour, is in the best interest of the City.

SECTION 5. As of the effective date of this ordinance, all ordinances or parts of ordinances in conflict herewith are hereby repealed.

SECTION 6. The City Clerk is hereby directed to certi fy to the passage of this ordinance and to cause the same or a summary to be published one time within 15 days of its passage in a newspaper of general circulation for the City of Escondido.

STAFF REPORT

August 10, 2022
File Number 0650-20

SUBJECT

CITY TREASURER COMPENSATION AND VACANCY STANDARDIZATION BALLOT MEASURE

DEPARTMENT
City Attorney

RECOMMENDATION
Request the City Council consider and take preferred action.

Staff Recommendation: None
Presenter: Gary McCarthy, Assistant City Attorney

FISCAL ANALYSIS
A ballot measure could cost between $45,000 and $75,000.

The proposed ballot measure would reduce the City Treasurer compensation by approximately $70,000 per year, beginning in December 2024. Standardizing the vacancy procedures for all elected officials could avoid an unbudgeted cost of $500,000 required to conduct a special election.

PREVIOUS ACTION
On May 25, 2022, the City Council considered the City Treasurer position and compensation and directed staff to provide further information regarding reducing the City Treasurer compensation or making the City Treasurer an appointed position.

On July 27, 2022, the City Council directed the City Attorney to prepare a ballot measure to make the City Treasurer compensation equal to that of a City Councilmember and to standardize the vacancy procedures for all City elected officials.

BACKGROUND
A voter initiative passed in 1984 (Proposition F), and modified in 1986 (Proposition N), has tied the City Treasurer compensation to that of the highest paid City department head. Since the voters enacted the authorizing ordinance, only the voters can modify it.

135
Item10.

1. Compensation.

Today, the City Treasurer makes a fixed salary that does not change whether the individual works full- time, part-time, or not at all. The City Treasurer’s current salary is $105,997, 1 a salary more than three times the annual salary received by City Councilmembers, $34,061. The average salary for the other four elected City Treasurers in San Diego County is $13,742. Because of the formula adopted by the voters in 1986, Escondido’s City Treasurer earns roughly 7.7 times more salary than the average salary of other elected City Treasurers in San Diego County.

The California Attorney General opined that a city council (or the electorate) has wide discretion to set a city treasurers’ salary, but not “so low a figure that no competent person would accept the office.” (84 Cal. Atty Gen.13,18.) The Attorney General acknowledged setting the city treasurer’s salary equal to that of a city councilmember’s salary because the state-law duties of the office, “do not necessarily require the city treasurer’s full -time attention, especially if the city has a finance department responsible for performing the financial affairs of the city.” (Supra. at 18.) City Treasurer Shultz’s proposed reduction to one half the mayor’s salary would produce an annual salary of $39,870.54 and according to Mr. Shultz should attract qualified applicants for the office. This amount remains significantly higher than the other elected City Treasurers in the county and almost $6,000 more than Escondido City Councilmembers earn.

The City Council consider ed and supported matching the City Treasurer compensation to the $34,061 received by a City Councilmember. While this amount is l ess than the amount suggested by the City Treasurer, it is significantly higher than the countywide elected City Treasurer average. State law provides very specific guidance regarding how and when City Council salaries can be adjusted.

2. Ballot measure opportunity.

Under state law, when a Mayor, Councilmember, or City Treasurer vacancy exists, the City Council has a choice to either fill the vacancy by an election or appoint an individual to complete the term of office.

However, the City’s voter-approved ordinance requires the City Council to set an election no less than 30 days and no more than 75 days from the date of the vacancy. The relatively tight window to act means the City might be forced to conduct a special election to fill the vacancy. In such a scenario, the City would be responsible to pay all costs associated with a special election. The County Registrar of Voters verified that a special election could cost the City more than $500,000. This is not a budgeted cost.

Using the same vacancy procedures for all elected officials, as provided in state law, simplifies the process, provides greater flexibility , and could save substantial amounts of taxpayer funds. Staff strongly recommends establishing one vacancy process for all elected officials. The standardized approach to City Treasurer and City Councilmember salaries and vacancy procedures has the value of simplicity and would allow straightforward messaging.

1 The Escondido City Treasurer also receives a $5,100 car allowance, $5,740 as a cafeteria benefit, and family health care. Total compensation exceeds $150,000.
136
Item10.

3. Timing.

Any changes to City Treasurer compensation, after voter approval, would n ot become effective until December 2024.

CITY COUNCIL DIRECTION
Compensation should be related to job duties and responsibilities and should be adequate to ensure viable candidates seek the position. City Treasurer Shultz has indicated his support to red uce the City Treasurer salary. On July 27, 2022, the City Council directed the City Attorney to prepare a ballot measure to make a City Treasurer’s compensation equal to that of a City Councilmember and to standardize the vacancy procedures for all City elected officials.

To standardize vacancy procedures for all elected officials, the voters must repeal Escondido Municipal Code Chapter 2 – Administration, Article 4B – City Treasurer, Section 2-94 – Terms of office and filling of vacancy. The following code language would be repealed:

Sec. 2-94 Term of office and filling of vacancy.
(a) If the office of Treasurer shall become vacant during the first three (3) years of the term, the city council shall set an election to be held not less than thirty (30) days nor more than seventy-five (75) days after the date on which the vacancy occurred for the purpose of selecting a treasurer to fill the remaining portion of the term.
(b) When a vacancy occurs during the fourth year of the term, the deputy treasurer shall perform all the duties of the treasurer for the remaining period of the term.

As a result, a City Treasurer vacancy would be addressed by the City Council in accordance with Cal. Govt.

Code section 36512.

Ordinance 2022 -19 also repeals and replaces Escondido Municipal Code Chapter 2, Article 4B – City Treasurer, § 2-95 – Salary and benefits, to read:

Repeal Replace
Sec. 2-95. Salary and benefits.

The city council shall fix the treasurer’s salary
annually at no less than one-half (1/2) the highest
salary paid to a city department head other than
Sec. 2-95. Salary and benefits.

The city treasurer shall receive the same
compensation as a city councilmember.
137
Item10.

the city manager, unless a lower salary is
requested by the city treasurer, with benefits
equal to those provided such appointee.

The proposed ballot language would state:

To reduce city treasure r compensation to the same level as a city councilmember and to standardize vacancy procedures for all City of Escondido elected officials, shall Ordinance 2022- 19 amending the Escondido Municipal Code be approved?
Ballot measures may include arguments for or against the measure. Anyone can submit arguments in support of or opposed to the measure, and may also submit rebuttals. If the City Clerk re ceives multiple arguments for or against the measure, the City Clerk will select the arguments to be presented to the voters in the voter information pamphlet based on priorities described in state law. If the City Council prefers to submit an argument in support of the proposed measure, the City Council or an individual councilmember’s argument would take precedence over any other submissions. Thus, the City Council may choose to maintain control of the ballot argument.

CONCLUSION
To proceed with a ball ot measure to address City Treasurer compensation and vacancy procedures, approval of Ordinance 2022-19 and Resolution 2022-114 would place the matter before the voters on the November 2022 ballot.

If the City Council chooses to proceed with a ballot meas ure, the City Council or individual council members may submit ballot arguments for or against the proposed measure, before August 18th.

RESOLUTIONS
a. Resolution No. 2022-114
b. Resolution No. 2022-114 Exhibit “A”

ORDINANCES
a. Ordinance No. 2022-19

138
Item10.

RESOLUTION NO. 2022-114

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

ESCONDIDO, CALIFORNIA, CALLING FOR THE HOLDING

OF A GENERAL MUNICIPAL ELECTION ON TUESDAY,
NOVEMBER 8, 2022, FOR THE SUBMISSION OF A

PROPOSED ORDINANCE TO REDUCE CITY TREASURER

COMPENSATION TO THE SAME LEVEL AS A CITY

COUNCILMEMBER AND TO STANDARDIZE VACANCY

PROCEDURES FOR AL L CITY OF ESCONDIDO ELECTED
OFFICIALS; CONSOLIDATING THE ELECTION WITH THE

STATEWIDE ELECTION, REQUESTING THE BOARD OF

SUPERVISORS OF THE COU NTY OF SAN DIEGO TO

PERMIT THE REGISTRAR OF VOTERS TO CONDUCT THE
ELECTION; AND DIRECTING THE CITY ATTORNEY TO

PREPARE AN IMPARTIAL ANALYSIS

The city treasurer shall receive the same compensation as a city councilmember; and WHEREAS, the City Council is authorized by statue to submit the proposed ordinance to the voters; and
WHEREAS, in accordance with State elections law, the City Council of the City of Escondido has called a General Municipal Election to be held in the City of Escondido, California, on Tuesday, November 8, 2022; and
139
Item10.

WHEREAS, it is desirable that the General Municipal Election be consolidated with the Statewide General Election to be held on the same date; that the City precincts, polling places and election officers of the two elections be the same; that the Registrar of Voters canvas the returns of the General Municipal Election; and that the election be held in all respects as if there were only one election.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Escondido , California as follows:

1. That the above recitations are true.

2. That pursuant to the requirements of the laws of the State of California there shall be and there is hereby called and ordered to be held in the City of Escondido, California, on Tuesday, November 8, 2022, a General Municipal Election for the purpose of submitting the following proposed ordinance , to authorize the city council to determine the city treasurer’s compensation and to standardize vacancy procedures for all City of Escondido elec ted officials, to the qualified electors of the City of Escondido.

3. That the City Council, pursuant to its right and authority, does order submitted to the voters at the General Municipal Election on November 8, 2022, the following question:

Yes

4. That the text of the Ordinance submitted to the voters is attached as Exhibit “A” and incorporated into this resolution by this reference.
140
Item10.

5. That the notice of the time and place of holding the election is given and the City Clerk is authorized, instructed and directed to give such further or additional notice of the election, in time, form and manner as required by law.

6. Pursuant to California Elections Code section 9282, the City Council hereby acknowledges its authority, and the authority of any individual voter who is eligible to vote on the measure, or bona fide association of citizens, or any combination of voters and associations, to submit a written argument, not to exceed 300 words, for or against the measure. Arguments must be submitted to the City Clerk, and may be changed until and including the date fixed by the City Clerk, after which no arguments for or against the measure may be submitted, withdrawn or changed.

7. Pursuant to California Elections Code section 9285, rebuttal arguments wil l be allowed. The rebuttal arguments may not exceed 250 words. Rebuttal arguments must be submitted to the City Clerk, and may be changed until and including the date fixed by the City Clerk, after which no rebuttal arguments for or against the measure may be submitted to the City Clerk. This Section 7 is applicable only to the November 8 , 2022 election called by this resolution and after that election, shall expire.

8. Pursuant to California Elections Code section 9280, the City Clerk is directed to transmit a copy of the measure to the City Attorney. The City Attorney is directed to prepare an impartial analysis of the measure, not to exceed 500 words in length, showing the effect of the measure on the existing law and the operation of the measure, and tra nsmit such impartial analysis to the City Clerk by the date fixed by the City Clerk.

9. Pursuant to California Elections Code section 10403, the Board of Supervisors of the County of San Diego is hereby requested to permit the Registrar of Voters to perfor m and render all services and proceedings, and to procure and furnish any and all official ballots, notices, printed 141
Item10.
matter and all supplies and equipment and paraphernalia incidental to and connected with the conduct of the subject election of the City of Escondido, with the cooperation and assistance of the City Clerk of the City of Escondido, in order to properly and lawfully conduct such election.

10. The Board of Supervisors of the County of San Diego is hereby requested to consolidate this election with the statewide election to be held on the same day, in the same territory. Pursuant to California Elections Code section 10411 and section 10418: (a) the election shall be held in all respects as if there were only one election; (b) only one form of bal lot shall be used; and (c) the Registrar of Voters of the County of San Diego shall canvass the returns of the subject election as part of the canvass of the returns of the election consolidated hereby.

11. Pursuant to California Elections Code sections 10410 and 10418, within the territories affected by this consolidation, the elections precincts, polling places, voting booths and poling hours shall, in every case, be the same, and there shall be only one se t of election officers in each of the precincts.

12. The polls of said election shall be open at seven o'clock a.m. of the day of the election and shall remain open continuously from that time until eight o'clock p.m. of the same day when the polls shall be closed, except as provided in California Elections Code section 14401 or as otherwise required or allowed under applicable law.

13. That the ballots to be used at the election shall be, both as to form and matter contained in form and content as required by law.

14. The City requests the Registrar of Voters title the measure as Measure “G.”

15. That the vote requirement for the measure to pass is a majority (50%+1) of the votes cast.

16. The County of San Diego shall be reimbursed in full for the services performed by the Registrar of Voters for the City of Escondido upon presentation of a bill therefor, and this City agrees 142
Item10.
to indemnify and save free and harmless the County, its officers, agents and employees from expense or liability, including reasonable attorney’s fees, as a result of an election contest arising from this election.

17. The City Council finds that this Resolution is not subject to the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and 15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA Guidelines, Ca lifornia Code of Regulations, Title 14, Chapter 3, because it has no potential for resulting in physical change to the environment, directly or indirectly.

18. That in all particulars not otherwise recited in this Resolution, the election shall be held and conducted as provided by law for holding municipal elections.

19. The provisions of this Resolution are severable and if any provision of this Resolution is held invalid, improper or unenforceable, that provision shall be severed from the Resolution and the remainder of this Resolution shall continue in full force and effect, and not be affected by such invalidity.

20. The City Clerk is hereby directed to certify the passage and adoption of this resolution and forthwith file a certified copy of this Resolution with the Board of Supervisors and the Registrar of Voters of the County of San Diego and to issue instructions to the Registrar of Voters to take any and all steps necessary for the holding of the election.

143
Item10.

ORDINANCE NO. 2022-19

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF

ESCONDIDO, CALIFORNIA, REPEALING ESCONDIDO
MUNICIPAL CODE CHAPTER 2, ARTICLE 4B, SECTION 2-94
AND AMENDING SECTION 2 -95 TO REDUCE C ITY

TREASURER COMPENSATION TO THE SAME LEVEL AS A

CITY COUNCILMEMBER AND TO STANDARDIZE VACANCY

PROCEDURES FOR AL L CITY OF ESCONDIDO ELECTED

OFFICIALS
WHEREAS, a voter initiative passed in 1984 (Proposition F), and modified in 1986 (Proposition N), has tied the City Treasurer’s compensation to that of the highest paid City department head and could result in the City paying $500,000 for a special election to fill a City Treasurer vacancy; and WHEREAS, since, the voters enacted the Propositions F and N, only the voters can modify the City Treasurer’s compensation and vacancy procedure; and
WHEREAS, the City Council believes the City Treasurer position is not a full time job; and WHEREAS, the City of Escondido City Treasurer receives approximately $150,000 in total compensation; and
WHEREAS, using the same vacancy provisions for the City Treasurer, City Councilmembers , and the Mayor will allow the City Council to assess all options when a vacancy occurs in any City of Escondido elected office; and
WHEREAS, if approved by the voters, the proposed ordinance would lower the City Treasurer compensation to equal that of a City Councilmember; and WHEREAS, California Government Code section 36517 states, “the city treasurer shall receive, at stated times, a compensation fixed by ordinance or resolution;” and WHEREAS, California Government Code section 36512 authorizes the City Council to fill a vacancy in the elected offices of the City of Escondido within 60 days from the commencement of the vacancy, either fill the vacancy by appointment or call a special election to fill the vacancy; and Resolution No. 2022-114
Exhibit "A"

Page 1 of 3 ends

144
Item10.

WHEREAS, on July 27 , 2022, the City Council directed the City Attorney to prepare a ballot measure for consideration of voter approval to address the City Treasurer ’s compensation and vacancy procedure.

NOW, THEREFORE, subject to approval by an affirmative, simple majority vote of the people as required by law, THE PEOPLE OF THE CITY OF ESCONDIDO, CALIFORNIA, DO ORDAIN AS FOLLOWS:

SECTION 1. The Escondido Municipal Code is revised to repeal Chapter 2 - Administration, Article 4B - City Treasurer, Section 2-94 – Terms of office and filling of vacancy.

SECTION 2. The Escondido Municipal Code is revised to repeal and replace Chapter 2 - Administration, Article 4B - City Treasurer, Section 2-95. Salary and benefits, as follows:

The city treasurer shall receive the same compensation as a city councilmember.

SECTION 3. ENVIRONMENTAL ANALYSIS. This Ordinance is exempt from review under the California Environmental Quality Act (California Public Resources Code sections 2100, et. seq., “CEQA”) and CEQA Regulations (14 California Code of Regulations sections 1500, et. seq.) because it establishes rules and procedures to implement government funding mechanisms; does not have any commitment to a specific project which could result in a potentially significant physical impact on the environment; and, constitutes an organizationa l or administrative activity that will not result in direct or indirect physical changes in the environment. Accordingly, this Ordinance does not constitute a “project” that requires environmental review (14 CCR section 15378(b)(4-5)).

SECTION 4. INCONSISTENT PROVISIONS. Any provisions of the Escondido Municipal Code, or appendices thereto, or any other ordinances of the City inconsistent herewith, to the extent of such inconsistencies and no further, are hereby repealed.

Resolution No. 2022-114
Exhibit "A"

Page 2 of 3 ends

145
Item10.

SECTION 5. The City Clerk shall b e authorized to replace the terms " Measure G" wherever they appear in this ordinance with the respective ballot designations determined by the County Registrar before this ordinance is codified.

SECTION 6. This Ordinance shall take effect immediately, upon approval by a simple majority of the voters, voting on the question at the November 8, 2022 election.

Resolution No. 2022-114
Exhibit "A"

Page 3 of 3 ends

146
Item10.

ORDINANCE NO. 2022-19

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF

ESCONDIDO, CALIFORNIA, REPEALING ESCONDIDO
MUNICIPAL CODE CHAPTER 2, ARTICLE 4B, SECTION 2-94
AND AMENDING SECTION 2 -95 TO REDUCE C ITY

TREASURER COMPENSATION TO THE SAME LEVEL AS A

CITY COUNCILMEMBER AND TO STANDARDIZE VACANCY

PROCEDURES FOR AL L CITY OF ESCONDIDO ELECTED

OFFICIALS

WHEREAS, a voter initiative passed in 1984 (Proposition F), and modified in 1986 (Proposition N), has tied the City Treasurer’s compensation to that of the highest paid City department head and could result in the City paying $500,000 for a special election to fill a City Treasurer vacancy; and WHEREAS, since, the voters enacted the Propositions F and N, only the voters can modify the City Treasurer’s compensation and vacancy procedure; and
WHEREAS, the City Council believes the City Treasurer position is not a full time job; and WHEREAS, the City of Escondido City Treasurer receives approximately $150,000 in total compensation; and
WHEREAS, using the same vacancy provisions for the City Treasurer, City Councilmembers , and the Mayor will allow the City Council to assess all options when a vacancy occurs in any City of Escondido elected office; and
WHEREAS, if approved by the voters, the proposed ordinance would lower the City Treasurer compensation to equal that of a City Councilmember; and WHEREAS, California Government Code section 36517 states, “the city treasurer shall receive, at stated times, a compensation fixed by ordinance or resolution;” and WHEREAS, California Government Code section 36512 authorizes the City Council to fill a vacancy in the elected offices of the City of Escondido within 60 days from the commencement of the vacancy, either fill the vacancy by appointment or call a special election to fill the vacancy; and 147
Item10.

NOW, THEREFORE, subject to approval by an affirmative, simple majority vote of the people as required by law, THE PEOPLE OF THE CITY OF ESCONDIDO, CALIFORNIA, DO ORDAIN AS FOLLOWS:

SECTION 1. The Escondido Municipal Code is revised to repeal Chapter 2 - Administration, Article 4B - City Treasurer, Section 2-94 – Terms of office and filling of vacancy.

SECTION 2. The Escondido Municipal Code is revised to repeal and replace Chapter 2 - Administration, Article 4B - City Treasurer, Section 2-95. Salary and benefits, as follows:

The city treasurer shall receive the same compensation as a city councilmember.

SECTION 6. This Ordinance shall take effect immediately, upon approval by a simple majority of the voters, voting on the question at the November 8, 2022 election.

149
Item10.

STAFF REPORT

August 10, 2022
File Number 0650-20

SUBJECT

TERM LIMITS BALLOT MEASURE FOR ALL ELECTED OFFICES IN THE CITY OF ESCONDIDO

DEPARTMENT
City Attorney

RECOMMENDATION
Request the City Council consider and introduce Ordinance No. 2022-20 and adopt Resolution No. 2022- 115 to place a ballot measure to set term limits for all elected offices in the City of Escondido on the November 8, 2022, consolidated general election.

Staff Recommendation: None
Presenters: Gary McCarthy, Assistant City Attorney

FISCAL ANALYSIS
The San Diego County Registrar of Voters indicates that placement of this measure on the November general election ballot could cost up to $78,000. The actual costs will depend on how many jurisdictions participate in the election and the quantity of pages required to present the measure and associated text.

PREVIOUS ACTION
On July 15, 2020, the City Council considered placing a ballot measure befor e the voters to enact term limits on City Councilmembers and the City Treasurer. The matter failed to muster a majority vote.

On May 25, 2022, the City Council directed the City Attorney to prepare a ballot measure for the November 2022 general election to allow voters to address term limits for the Mayor and City Councilmembers in Escondido. The City Council agreed that the ballot measure should set limits of two terms for the Mayor and three terms for City Councilmembers.

On July 27, 2022, the City Cou ncil directed the City Attorney to update the proposed ballot measure to include a three-term limit for the City Treasurer.

BACKGROUND
In the Community Opinion Survey Summary Report, prepared for the City of Escondido and published on December 31, 2021, ap proximately two -thirds (68%) of Escondido residents favored limiting City Councilmembers to two consecutive four-year terms, twenty-two percent (22%) preferred no term limits, 150
Item11.

and 10% were unsure or unwilling to answer the question . In every identified subgroup surveyed, those who favored term limits outnumbered those who did not by at least 2-to-1.

On April 6, 2022 , Councilmember Morasco requested a Future Agenda item to discuss and consider an amendment to the Escondido Municipal Code to place limits on the terms for the mayor, councilmembers and the city treasurer who may serve the City of Escondido . Any such amendment would need to be placed on the general election ballot for public vote. At this time there are no limits on the number of terms an elected or appointed representative for the City may serve under the Code. Neither federal nor state law place term limits on the city’s elected offices.

On May 25, 2022, after a staff presentation, hearing public comment and deliberating on the merits of bringing the matter forward for a public vote, the City Council directed the City Attorney to prepare a ballot measure for the November 2022 general election to allow voters to address term limits for the Mayor and City Councilmembers in Escondido . The City Council agreed that the ballot measure should set limits of two terms for the Mayor and three terms for City Councilmembers. The City Council did not address the issue of whether the other elected City official, the City Treasurer, should also be included in the ballot measure for a public vote on a term limit.

On July 27, 2022, the City Council discussed term limits and directed the City Attorney to apply the proposed term limits to the City Treasurer position, with the City Treasurer having the same term limit as a City Councilmember.

1. Municipal Term Limits.

State law establishes procedural steps to adopt local government term limits. First, the City Council or City residents may propose by initiative limits on the number of terms a municipality’s elected officials may serve. Second, regardless of the source, any proposal to limit or change term durations shall not become operative unless the electors of the City at a regularly scheduled election vote and a majority of the votes cast on the question in favor the adoption of the proposal. (Government Code section 36502(b) .) The imposition of term limits must occur prospectively – it cannot impact the current term of elected officials.

2. Proposed Ballot Measure and Ordinance.

The proposed ordinance, if approved by a simple majority of qualified voters, would impose lifetime term limits of two terms for a Mayor, three terms for City Councilmembers, and three terms for a City Treasurer.

Partial terms of two years or more in that office would count as one term. A partial term of less than two years in that office would not count as a term.

Ordinance No. 2022-20 provides the language necessary to amend the Escondido Municipal Code to impose term limits requested by the City Council. The Ordinance becomes effective with voter approval. 151
Item11.

Resolution No. 2022-115 will add this ballot measure to the consolidated general election on November 8, 2022. The San Diego County Registrar of Voters Calendar of Events lists the key events for the next consolidated general election and is included as Attachment “A.” The proposed ballot language is as follows:

To establish term limits of two terms for persons serving as Mayor , three terms for persons serving as a City Councilmember, and three terms for persons serving as the City Treasurer, whether consecutive or not, shall Ordinance 2022-20 amending the Escondido Municipal Code be approved?
The ballot measure voter information pamphlet would contain the proposed changes to Chapter 2 of the Escondido Municipal Code.

Ballot measures may include arguments for or against the measure. Anyone can submit arguments in support of or opposed to the measure, and may also submit rebuttals. If the City Clerk receives multiple arguments for or against the measure, the City Clerk wil l select the arguments to be presented to the voters in the voter information pamphlet based on priorities described in state law. If the City Council prefers to submit an argument in support of the proposed measure, the City Council or an individual councilmember’s argument would take precedence over any other submissions. Thus, the City Council may choose to maintain control of the ballot argument.

Conclusion.

If the City Council chooses to submit this ballot measure to the voters on November 8, 2022, a nd more than one half (50% + 1) of the voters vote yes, the measure would become effective.

The City Council or individual Councilmembers may retain control of the ballot measure argument by voting to authorize the Mayor, or one or more City Councilmembers, to draft the argument and any rebuttals if necessary.

ATTACHMENTS
a. Attachment “1” – San Diego County Registrar of Voters November 8, 2022 for Local Measures Calendar of Events

ORDINANCES
a. ORDINANCE NO. 2022-20

RESOLUTIONS
a. RESOLUTION NO. 2022-115

152
Item11.

SAN DIEGO COUNTY – REGISTRAR OF VOTERS
NOVEMBER 8, 2022

CALENDAR OF EVENTS
FOR
LOCAL MEASURES: COUNTY, SCHOOL AND SPECIAL DISTRICTS
(CITIES: PLEASE CONTACT EACH CITY CLERK FOR DETAILS.)
Unless stated otherwise, all section references are for the California Elections Code.

DAYS BEFORE

AN ELECTION DATE EVENT
88 August 12
Registrar of Voters to receive resolution(s) requesting consolidation, services, etc. Ballot text (limited to 75 words) must be included in the resolution. (10403; Education Code 5322)
Tax rate statement (if applicable) is due at Registrar of Voters Office. (9401) 87 August 13 Registrar of Voters to pos t online measure text and Notice of Argument Deadline.
85 August 15 Registrar of Voters to publish a Notice of Argument Deadline in newspaper of general circulation. (9163, 9316, 9502)
82 August 18 Arguments in favor of OR against a measure are due at Registrar of Voters Office. (9163, 9316, 9502)
81 August 19 Impartial analysis is due at Registrar of Voters Office. (9160, 9313, 9500) 77 August 23 Rebuttal arguments due at Registrar of Voters Office. (9167, 9317, 9504) 67 to 41 September 2 -
September 28
Ballots typeset, proofed and printed.
29 October 10 First day vote-by-mail ballots are available. (3001,3003) In-office voting begins.
15 October 24 Last day to register to vote in this election. (2102) 14 to 0 October 25 -
November 8
Conditional Voter Registration Period – Voters who miss the registration deadline may register and vote. See details at sdvote.com (2170) 6 to 0 November 2 -
November 8
Emergency voting in person or pick up (also can pick up with written/signed statement of request by any authorized representative). (3021) 0 November 8 ELECTION DAY – Polls open from 7 am to 8 pm.

DAYS AFTER

THE ELECTION DATE EVENT
+ 30 December 8 Certified results available after the official canvass i s completed. Major elections (Primary or General of an even year, for example) may requir e 30 days; stand-alone or smaller elections require less time. (15372) Attachment "1"
153
Item11.

RESOLUTION NO. 2022-115

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

ESCONDIDO, CALIFORNIA, CALLING FOR THE HOLDING

OF A GENERAL MUNICIPAL ELECTION ON TUESDAY,
NOVEMBER 8, 2022, FOR THE SUBMISSION OF AN

ORDINANCE, SUBJECT TO VOTER APPROVAL, TO

ESTABLISH TERM LIMITS FOR ALL CITY OF ESCONDIDO
ELECTED OFFICES; CONSOLIDATING THE ELECTION WITH

THE STATEWIDE ELECTION, REQUESTING THE BOARD OF

SUPERVISORS OF THE COUNTY OF SAN DIEGO TO

PERMIT THE REGISTRAR OF VOTERS TO CONDUCT THE
ELECTION; AND DIRECTING THE CITY ATTORNEY TO

PREPARE AN IMPARTIAL ANALYSIS

WHEREAS, the California Elections Code section 9222, authorizes the City Council to submit to the voters a proposition for the enactment of any ordinance, to be voted upon at any succeeding regular city election, and if the proposition submitted receives a majority of the votes cast on it at the election, the ordinance shall be or enacted accordingly; and
WHEREAS, the City Council of the City of Escondido has adopted an o rdinance, adding Article 2, Section 2-25 of Chapter 2 of the Escondido Municipal Code to establish term limits for the mayor and city councilmember offices; and
WHEREAS, the City Council of the City of Escondido has adopted an o rdinance, adding Article 2, Section 2-94.1 of Chapter 2 of the Escondido Municipal Code to establish term limits for the city treasurer; and
WHEREAS, the City Council is authorized by statue to submit the proposed ordinance to the voters; and
WHEREAS, in accordance with State elections law, the City Council of the City of Escondido has called a General Municipal Election to be held in the City of Escondido, California, on Tuesday, November 8, 2022; and
154
Item11.

WHEREAS, it is desirable that the General Municipal Election be consolidated with the Statewide General Election to be held on the same date; that the City precincts, polling places and election officers of the two elections be the same; that the Registrar of Voters canvass the returns of the General Municipal Election; and that the election be held in all respects as if there were only one election.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Escondido , California as follows:

1. That the above recitations are true.

2. That pursuant to the requirements of the laws of the State of California there shall be and there is hereby called and ordered to be held in the City of Escondido, California, on Tuesday, November 8, 2022, a General Municipal Election for the purpose of submitting the following proposed ordinance , imposing term limits on the offices of mayor and city councilmembers, to the qualified electors of the City of Escondido.

3. That the City Council, pursuant to its right and authority, does order submitted to the voters at the General Municipal Election on November 8, 2022, the following question:

To establish term limits of two terms for persons serving as Mayor , three terms for persons serving as a City Councilmember, and three terms for persons serving as the City Treasurer , whether consecutive or not, s hall Ordinance 2022 -20 amending the Escondido Municipal Code be approved?

Yes

4. That the text of the ordinance submitted to the voters is attached as Exhibit A and incorporated into this resolution by this reference.
155
Item11.

6. Pursuant to Califor nia Elections Code section 9282, the City Council hereby acknowledges its authority, and the authority of any individual voter who is eligible to vote on the measure, or bona fide association of citizens, or any combination of voters and associations, to submit a written argument, not to exceed 300 words, for or against the measure. Arguments must be submitted to the City Clerk, and may be changed until and including the date fixed by the City Clerk, after which no arguments for or against the measure may be submitted, withdrawn or changed.

7. Pursuant to California Elections Code section 9285, rebuttal arguments will be allowed. The rebuttal arguments may not exceed 250 words. Rebuttal arguments must be submitted to the City Clerk, and may be changed unti l and including the date fixed by the City Clerk, after which no rebuttal arguments for or against the measure may be submitted to the City Clerk. This Section 7 is applicable only to the November 8 , 2022 election called by this resolution and after that election, shall expire.

8. Pursuant to California Elections Code section 9280, the City Clerk is directed to transmit a copy of the measure to the City Attorney. The City Attorney is directed to prepare an impartial analysis of the measure, not to exceed 5 00 words in length, showing the effect of the measure on the existing law and the operation of the measure, and transmit such impartial analysis to the City Clerk by the date fixed by the City Clerk.

9. Pursuant to California Elections Code section 10403, the Board of Supervisors of the County of San Diego is hereby requested to permit the Registrar of Voters to perform and render 156
Item11.
all services and proceedings, and to procure and furnish any and all official ballots, notices, printed matter and all supplies and equipment and paraphernalia incidental to and connected with the conduct of the subject election of the City of Escondido, with the cooperation and assistance of the City Clerk of the City of Escondido, in order to properly and lawfully conduct such el ection.

10. The Board of Supervisors of the County of San Diego is hereby requested to consolidate this election with the statewide election to be held on the same day, in the same territory. Pursuant to California Elections Code section 10411 and section 10418: (a) the election shall be held in all respects as if there were only one election; (b) only one form of ballot shall be used; and (c) the Registrar of Voters of the County of San Diego shall canvass the returns of the subject election as part of the canvass of the returns of the election consolidated hereby.

11. Pursuant to California Elections Code sections 10410 and 10418, within the territories affected by this consolidation, the elections precincts, polling places, voting booths and poling hou rs shall, in every case, be the same, and there shall be only one set of election officers in each of the precincts.

13. That the ballots to be used at the election shall be , both as to form and matter contained in form and content as required by law.

14. The City requests the Measure be titled as Measure F.

15. That the vote requirement for the measure to pass is a majority (50%+1) of the votes cast.
157
Item11.

16. The County of San Diego shall be reimbursed in full for the services performed by the Registrar of Voters for the City of Escondido upon presentation of a bill therefore, and this City agrees to indemnify and save free and harmless the County, its officers, agents and employees from expense or liability, including reasonable attorney’s fees, as a result of an election contest arising from this election.

17. The City Council finds that this Resolution is not subject to the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and 15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA Guide lines, California Code of Regulations, Title 14, Chapter 3, because it has no potential for resulting in physical change to the environment, directly or indirectly.

18. That in all particulars not otherwise recited in this Resolution, the election shall be held and conducted as provided by law for holding municipal elections.

20. The City Clerk is hereby directed to certify the passage and adoption of this Resolution and forthwith file a certified copy of this Resolution with the Board of Supervisors and the Registrar of Voters of the County of San Diego and to issue instructions to the Registrar of Voters to take any and all steps necessary for the holding of the election.
158
Item11.

ORDINANCE NO. 2022-20

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF

ESCONDIDO, SUBJECT TO VOTER APPROVAL, TO

ESTABLISH TERM LIMITS FOR ALL CITY OF ESCONDIDO

ELECTED OFFICES
WHEREAS, in the Community Opinion Survey Summary Report, prepared for the City of Escondido and published on December 31, 2021, approximately two -thirds (68%) of Escondido residents favored limiting City Councilmembers to two consecutive four -year terms, twenty-two percent (22%) preferred no term limits, and 10% were unsure or unwilling to answer the question; and WHEREAS, California Government Code section 36502(a) authorizes the city council of a general law city to adopt, by initiative, a proposal to limit the number of terms a member of the city council may serve on the city council, or the number of terms an elected mayor may serve; and WHEREAS, California Government Code section 36502(b) holds that any proposal to limit the number of terms a member of the city counc il may serve on the city council, or the number of terms an elected mayor may serve, shall apply prospectively only and shall not become operative unless it is submitted to the electors of the city at a regularly scheduled election and a majority of the votes cast on the question favor the adoption of the proposal; and
WHEREAS, at a duly noticed meeting held on May 25, 2022, the City Council directed the City Attorney to prepare a ballot measure for voter approval to establish term limits for the Mayor an d City Councilmembers of the City of Escondido.

NOW, THEREFORE, subject to approval by an affirmative, simple majority vote of the people as required by law, THE PEOPLE OF THE CITY OF ESCONDIDO, CALIFORNIA, DO ORDAIN AS FOLLOWS:

SECTION 1. The Escondido Municipal Code is revised to add Chapter 2 – Administration, Article 2 – City Council, Section 2-25 – Term Limits, as set forth below:

Resolution No. 2022-115
Exhibit "A"

Page 1 of 3 ends

159
Item11.

Term limits.
(a) No person shall serve more than two terms as the mayor , whether consecutive or not.

This term limit applies to appointed terms and elected terms. A partial term of two years or more in that office shall count as one term. A partial term of less than two years in that office shall not count as one term.
(b) No person shall serve more than three terms as a councilmember, regardless of the district represented, whether consecutive or not. This term limit applies to appointed terms and elected terms. A partial term of two years or more in that office shall count as one term. A partial term of less than two years in that office shall not count as one term.

SECTION 2. The Escondido Munic ipal Code is revised to add Chapter 2 – Administration, Article 4B – City Treasurer, Section 2-94.1 – Term Limits, as set forth below:

Term limits.

No person shall serve more than three terms as a city treasurer, whether consecutive or not. This term limit applies to appointed terms and elected terms. A partial term of two years or more in that office shall count as one term. A partial term of less than two years in that office shall not count as one term.

Page 2 of 3 ends

160
Item11.

constitutes an organizati onal or administrative activity that will not result in direct or indirect physical changes in the environment. Accordingly, this Ordinance does not constitute a “project” that requires environmental review (14 CCR section 15378(b)(4-5)).

SECTION 5. This Ordinance shall take effect immediately, upon approval by a simple majority of the voters, voting on the question at the November 8, 2022 election.

Resolution No. 2022-115
Exhibit "A"

Page 3 of 3 ends

161
Item11.

ORDINANCE NO. 2022-20

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF

ESCONDIDO, SUBJECT TO VOTER APPROVAL, TO

ESTABLISH TERM LIMITS FOR ALL CITY OF ESCONDIDO

ELECTED OFFICES

WHEREAS, in the Community Opinion Survey Summary Report, prepared for the City of Escondido and published on December 31, 2021, approximately two -thirds (68%) of Escondido residents favored limiting City Councilmembers to two consecutive four -year terms, twenty-two percent (22%) preferred no term limits, and 10% were unsure or unwilling to answer the question; and WHEREAS, California Government Code section 36502(a) authorizes the city council of a general law city to adopt, by initiative, a proposal to limit the number of terms a member of the city council may serve on the city council, or the number of terms an elected mayor may serve; and WHEREAS, California Government Code section 36502(b) holds that any proposal to limit the number of terms a member of the city counc il may serve on the city council, or the number of terms an elected mayor may serve, shall apply prospectively only and shall not become operative unless it is submitted to the electors of the city at a regularly scheduled election and a majority of the votes cast on the question favor the adoption of the proposal; and
WHEREAS, at a duly noticed meeting held on May 25, 2022, the City Council directed the City Attorney to prepare a ballot measure for voter approval to establish term limits for the Mayor an d City Councilmembers of the City of Escondido.

NOW, THEREFORE, subject to approval by an affirmative, simple majority vote of the people as required by law, THE PEOPLE OF THE CITY OF ESCONDIDO, CALIFORNIA, DO ORDAIN AS FOLLOWS:

SECTION 1. The Escondido Municipal Code is revised to add Chapter 2 – Administration, Article 2 – City Council, Section 2-25 – Term Limits, as set forth below:

162
Item11.

Term limits.
(a) No person shall serve more than two terms as the mayor , whether consecutive or not.

SECTION 2. The Escondido Munic ipal Code is revised to add Chapter 2 – Administration, Article 4B – City Treasurer, Section 2-94.1 – Term Limits, as set forth below:

Term limits.

constitutes an organizationa l or administrative activity that will not result in direct or indirect physical changes in the environment. Accordingly, this Ordinance does not constitute a “project” that requires environmental review (14 CCR section 15378(b)(4-5)).

SECTION 5. This Ordinance shall take effect immediately, upon approval by a simple majority of the voters, voting on the question at the November 8, 2022 election.

164
Item11.

KEY-

CONSENT CALENDAR CURRENT BUSINESS

PUBLIC HEARING WORKSHOP
8/17/2022
CONSENT CALENDAR - (A. FIRESTINE) - COMMUNITY FACILITIES DISTRICT 2020-1 (SERVICES) ZONE 7 - It is requested that the City Council adopt Resolution No. 2022-65 annexing nine projects containing 151 units into the Citywide Services CFD 2020-1.

CONSENT CALENDAR - (D. CRAMER) - FISCAL YEAR 2021/22 PAUL COVERDELL FORENSIC IMPROVEMENT PROGRAM GRANT - Request the City Council Adopt Resolution No. 2022-118 authorizing the Interim Chief of Police to accept a FY 2021-22 California Office of Emergency Services (CalOES) Paul Coverdell Forensic Science Improvement Program Grant in the amount of $52,033.

CONSENT CALENDAR - (J. AXELROD) - APPROVAL OF AGREEMENT WITH EUSD FOR THE BEFORE AND AFTER SCHOOL PROGRAM - It is requested that the City Council Adopt Resolution No. 2022-110 authorizing the Mayor to execute an agreement with EUSD to operate the Before and After School Program CURRENT BUSINESS -(V. McCaw) - Reidy Creek Golf Course Management and Concession Agreements CURRENT BUSINESS - (P. MCNAMARA, M.MORASCO) - REVIEW OF CALIFORNIA CENTER FOR THE ARTS MANAGEMENT AGREEMENT 8/24/2022
PROCLAMATION - (J. MURDOCK) - NATIONAL PREPAREDNESS MONTH - It is requested that the Mayor present a proclamation declaring September 2022 as National Preparedness Month
PRESENTATION - (M. MORASCO) - SDG&E PRESENTATION ON NET ZERO CARBON EMISSIONS CONSENT CALENDAR - (J. MURDOCK) - 2022 SAFE SAN DIEGO GRANT PROGRAM AWARD ACCEPTANCE AND BUDGET ADJUSTMENT CONSENT CALENDAR - (A. FIRESTINE) - AUTHORIZATION TO APPLY FOR A SAFE STREETS FOR ALL GRANT AND AMENDING THE LOCAL ROADWAY SAFETY PLAN CURRENT BUSINESS - (J. PROCOPIO) ( D. Cramer) - Annual Traffic Safety Update Workshop PUBLIC HEARING (A. FINESTONE) - PL22-0363 - SENATE BILL 9 (“SB 9”) , IMPLEMENTING ORDINANCE NO. 2022-19

Page 1 ends

165
Item12.

Escondido City CouncilAugust 10, 2022

Escondido City Council
August 10, 2022