4918-8692-8563v3/200721-0051 B-2
(d) Issuer means the City of La Mesa.
(e) Maturity means Bonds with the same credit and payment terms. Bonds with different maturity dates, or Bonds with the same maturity date but different stated interest rates, are treated as separate maturities.
(f) Public means any person (including an individual, trust, estate, partnership, association, company, or corporation) other than an Underwriter or a related party to an Underwriter.
The term “related party” for purposes of this certificate generally means any two or more persons who have greater than 50 percent common ownership, directly or indirectly. (g) Sale Date means the first day on which there is a binding contract in writing for the sale of a Maturity of the Bonds. The Sale Date of the Bonds is __________, 2026. (h) Underwriter means (i) any person that agrees pursuant to a written contract with the Issuer (or with the lead underwriter to form an underwriting syndicate) to participate in the initial sale of the Bonds to the Public, and (ii) any person that agrees pursuant to a written contract directly or indirectly with a person described in clause (i) of this paragraph to participate in the initial sale of the Bonds to the Public (including a member of a selling group or a party to a retail distribution agreement participating in the initial sale of the Bonds to the Public).
4. Credit. Oppenheimer has calculated that the present value of the amounts paid to obtain the municipal bond insurance policy (the “Policy”) securing the Bonds is less than the present value of the debt service reasonably expected to be saved as a result of having the Policy, using as the discount factor for this purpose the expected Yield with respect to the Bonds treating the fees paid as interest with respect to the Bonds.
To the best of Oppenheimer’ knowledge, the fee paid to obtain the Policy was determined in arm’s-length negotiation and was required as a condition to the issuance by ____________________ of the Policy.
4918-8692-8563v3/200721-0051 B-3
All terms not defined herein shall have the same meanings as in the Certificate as to Arbitrage and Tax Compliance Procedures with respect to the Bonds, to which this Certificate is attached. The representations set forth in this certificate are limited to factual matters only. Nothing in this certificate represents Oppenheimer’s interpretation of any laws, including specifically Sections 103 and 148 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder. Accordingly, Oppenheimer makes no representation as to the legal sufficiency of the factual matters set forth herein. The undersigned understands that the foregoing information will be relied upon by the Issuer with respect to certain of the representations set forth in its documents and with respect to compliance with the federal income tax rules affecting the Bonds, and by Best Best & Krieger LLP, in connection with rendering its opinion that the interest on the Bonds is excluded from gross income for federal income tax purposes, the preparation of the Internal Revenue Service Form 8038-G, and other federal income tax advice that it may give to the Issuer from time to time relating to the Bonds. Except as expressly set forth above, the certifications set forth herein may not be relied upon or used by any third party for any other purpose.
Dated: __________, 2026 OPPENHEIMER & CO. INC., as Underwriter By
Authorized Officer
4918-8692-8563v3/200721-0051 B-4
SCHEDULE A
SALE PRICES OF THE MATURITIES
(attached)
4918-8692-8563v3/200721-0051 B-5
SCHEDULE B
PROOF OF ARBITRAGE YIELD
(attached)
DATE: July 14, 2026
TO: Mayor and Members of the City Council
FROM: Megan Wiegelman, City Clerk
VIA: Greg Humora, City Manager
SUBJECT: LETTER FROM THE LEAGUE OF CALIFORNIA CITIES REQUESTING THE
DESIGNATION OF A VOTING DELEGATE AND ALTERNATE FOR THE
LEAGUE OF CALIFORNIA CITIES ANNUAL CONFERENCE TO BE HELD SEPTEMBER 23 THROUGH SEPTEMBER 25, 2026, IN ANAHEIM,
CALIFORNIA
The attached Voting Delegate Appointment Packet requests the designation of a voting delegate for the General Assembly at the League of California Cities (“Cal Cities”) Annual Conference and Expo. The designated delegate will represent the City at the General Assembly, and the designation must be made by Council action.
Following the appointment, the City Clerk will submit the required information through Cal Cities’ designated online submission form. Both the delegate appointments and the form submission must be completed no later than Tuesday, September 1, 2026.
Staff recommends that the Council designate one voting delegate and up to two alternate voting delegates to represent the City at the General Assembly on September 25, 2026, during the Cal Cities Annual Conference and Expo.
Attachment: A. 2026 Voting Delegate Appointment Packet
1400 K Street, Suite 400, Sacramento, CA 95814 • 916.658.8200 • calcities.org DATE: Wednesday, May 13, 2026
TO: Mayors, Council Members, City Clerks, and City Managers RE: DESIGNATION OF VOTING DELEGATES AND ALTERNATES
League of California Cities Annual Conference and Expo, Sept. 23-25, 2026 Anaheim Convention Center
Every year, the League of California Cities convenes a member-driven General Assembly at the Cal Cities Annual Conference and Expo. The General Assembly is an important opportunity where city officials can directly participate in the development of Cal Cities policy.
Taking place on Friday, Sept. 25, 2026 the General Assembly is comprised of voting delegates appointed by each member city; every city has one voting delegate. Your appointed voting delegate plays an important role during the General Assembly by representing your city and voting on resolutions.
To cast a vote during the General Assembly, your city must designate a voting delegate and up to two alternate voting delegates, one of whom may vote if the designated voting delegate is unable to serve in that capacity. Voting delegates may either be an elected or appointed official.
Action by Council Required. Consistent with Cal Cities bylaws, a city’s voting delegate and up to two alternates must be designated by the city council. Please note that designating the voting delegate and alternates must be done by city council action and cannot be accomplished by individual action of the mayor or city manager alone.
Following council action, please submit your city’s delegates through the online submission portal by Tuesday, Sept. 1, 2026. When completing the Voting Delegate submission form, you will be asked to attest that council action was taken. You will need to be signed in to your My Cal Cities account when submitting the form.
Submitting your voting delegate form by the deadline will allow us time to establish voting delegate/alternate records prior to the conference and provide pre-conference communications with voting delegates.
Conference Registration Required. The voting delegate and alternates must be registered to attend the conference. They need not register for the entire conference; they may register for Friday only. Conference registration opens June 2.
For a city to cast a vote, one voter must be present at the General Assembly and in possession of the voting delegate card and voting tool. Voting delegates and Council Action Advised by September 1, 2026
alternates need to pick up their conference badges before signing in and picking up the voting delegate card at the voting delegate desk. This will enable them to receive the special sticker on their name badges that will admit the voting delegate into the voting area during the General Assembly.
Please view Cal Cities’ event and meeting policy in advance of the conference.
Transferring Voting Card to Non-Designated Individuals Not Allowed. The voting delegate card may be transferred freely between the voting delegate and alternates, but only between the voting delegate and alternates. If the voting delegate and alternates find themselves unable to attend the General Assembly, they may not transfer the voting card to another city official.
Seating Protocol during General Assembly. At the General Assembly, individuals with a voting card will sit in a designated area. Admission to the voting area will be limited to the individual in possession of the voting card and with a special sticker on their name badge identifying them as a voting delegate.
The voting delegate desk, located in the conference registration area of the Anaheim Convention Center, will be open at the following times: Wednesday, Sept. 23, 8:00 a.m.-6:00 p.m. and Thursday, Sept. 24, 7:30 a.m.-4:00 p.m. On Friday, Sept. 25, the voting delegate desk will be open at the General Assembly, starting at 7:30 a.m., but will be closed during roll calls and voting.
The voting procedures that will be used at the conference are attached to this memo.
Please share these procedures and this memo with your council and especially with the individuals that your council designates as your city’s voting delegate and alternates.
Once again, thank you for submitting your voting delegate and alternates by Tuesday, Sept. 1. If you have questions, please contact Zach Seals at [email protected].
Attachments:
• General Assembly Voting Guidelines
• Information Sheet: Cal Cities Resolutions and the General Assembly
1400 K Street, Suite 400, Sacramento, CA 95814 • 916.658.8200 • calcities.org General Assembly Voting Guidelines
1. One City One Vote. Each member city has a right to cast one vote on matters pertaining to Cal Cities policy.
2. Designating a City Voting Representative. Prior to the Cal Cities Annual Conference and Expo, each city council may designate a voting delegate and up to two alternates; these individuals are identified on the voting delegate form provided to the Cal Cities Credentials Committee.
3. Registering with the Credentials Committee. The voting delegate, or alternates, may pick up the city's voting card at the voting delegate desk in the conference registration area. Voting delegates and alternates must sign in at the voting delegate desk. Here they will receive a special sticker on their name badge and thus be admitted to the voting area at the General Assembly.
4. Signing Initiated Resolution Petitions. Only those individuals who are voting delegates (or alternates), and who have picked up their city’s voting card by providing a signature to the credentials committee at the voting delegate desk, may sign petitions to initiate a resolution.
5. Voting. To cast the city's vote, a city official must have in their possession the city's voting card and voting tool; and be registered with the credentials committee. The voting card may be transferred freely between the voting delegate and alternates but may not be transferred to another city official who is neither a voting delegate nor alternate.
6. Voting Area at General Assembly. At the General Assembly, individuals with a voting card will sit in a designated area. Admission to the voting area will be limited to the individual in possession of the voting card and with a special sticker on their name badge identifying them as a voting delegate.
7. Resolving Disputes. In case of dispute, the credentials committee will determine the validity of signatures on petitioned resolutions and the right of a city official to vote at the General Assembly.
Sixty days before the
Annual Conference
and Expo, Cal Cities
members may submit
policy proposals on
issues of importance
to cities. The resolution must
have the concurrence of at least
five additional member cities or
individual members.
How it works: Cal Cities
Resolutions and the General Assembly
General Assembly
General Resolutions Policy Committees
Developing League of California Cities policy is a dynamic process that engages a wide range of members to ensure Cal Cities represents cities with one voice. These policies directly guide Cal Cities’ advocacy to promote local decision-making, and lobby against statewide policies that erode local control.
The resolutions process and General Assembly is one way that city officials can directly participate in the development of Cal Cities policy. If a resolution is approved at the General Assembly, it becomes official Cal Cities policy. Here’s how resolutions and the General Assembly work.
The petitioned
resolution is an
alternate method
to introduce policy
proposals during
the annual conference. The
petition must be signed by
voting delegates from 10% of
member cities, and submitted to
the Cal Cities President at least
24 hours before the beginning
of the General Assembly.
Petitioned Resolutions
The Cal Cities
President assigns
general resolutions
to policy committees
where members
review, debate, and recommend
positions for each policy proposal.
Recommendations are forwarded
to the Resolutions Committee.
Who’s who
The Resolutions Committee
includes representatives
from each Cal Cities
diversity caucus, regional
division, municipal
department, and policy
committee, as well as
individuals appointed by
the Cal Cities president.
Voting delegates
are appointed by each
member city; every city
has one voting delegate.
The General Assembly is a
meeting of the collective
body of all voting
delegates —one from
every member city.
Seven policy committees
meet throughout the year
to review and recommend
positions to take on bills
and regulatory proposals.
Policy committees include
members from each Cal
Cities diversity caucus,
regional division, and
municipal department,
as well as individuals
appointed by the Cal
Cities president.
During the General Assembly, voting delegates
debate and consider general and petitioned
resolutions forwarded by the Resolutions
Committee. Potential Cal Cities bylaws
amendments are also considered at this meeting.
Cal Cities policy
development is a memberinformed process,
grounded in the voices and
experiences of city officials
throughout the state.
For more information visit www.calcities.org/general-assembly Prior to the Annual Conference and Expo
Resolutions Committee
The Resolutions
Committee considers
all resolutions. General
Resolutions approved1 by
either a policy committee
or the Resolutions Committee are next
considered by the General Assembly.
General resolutions not approved, or
referred for further study by both a
policy committee and the Resolutions
Committee do not go to the General
Assembly. All Petitioned Resolutions
are considered by the General
Assembly, unless disqualified.2
During the Annual Conference and Expo
1 The Resolution Committee can amend a general resolution prior to sending it to the General Assembly. 2 Petitioned Resolutions may be disqualified by the Resolutions Committee according to Cal Cities Bylaws Article VI. Sec. 5(f). Page 280 of 282 DATE: July 14, 2026
TO: Members of the City Council
FROM: Mayor Mark Arapostathis and Vice Mayor Lauren Cazares VIA: Greg Humora, City Manager
SUBJECT: CONSIDERATION OF DIRECTING STAFF TO STUDY SHORT-TERM
VACATION RENTALS, DEVELOP POLICY RECOMMENDATIONS, AND
RETURN TO THE COUNCIL WITH A PROPOSED REGULATORY
POLICY
The City of La Mesa currently has no regulatory framework governing short-term vacation rentals (STVRs). The City does not require STVR operators to obtain permits or register their properties, establish operational standards, or collect Transient Occupancy Tax (TOT) generated by these accommodations. As the prevalence of short-term rentals has grown throughout California, many jurisdictions have adopted local regulations to balance neighborhood compatibility, housing availability, public safety, tourism, consumer protections, and equitable tax collection.
A comprehensive evaluation of STVRs in La Mesa would provide the City Council with information regarding the current local market, best practices from comparable jurisdictions, potential fiscal impacts, and policy options that could help ensure responsible operation while protecting the quality of life in La Mesa’s neighborhoods.
Studying and developing a regulatory framework for short-term vacation rentals supports the City’s Strategic Plan by advancing Safe Community, through clear operational and enforcement standards, Livability by protecting neighborhood character and quality of life, Financial Stability by evaluating opportunities for Transient Occupancy Tax collection and cost recovery, and a High-Performing Organization through the development of transparent, data-driven policies informed by stakeholder engagement and best practices.
DATE: July 14, 2026
TO: Mayor and Members of the City Council
FROM: Mayor Mark Arapostathis and Vice Mayor Lauren Cazares VIA: Greg Humora, City Manager
SUBJECT: CONSIDERATION OF DIRECTING STAFF TO REVIEW EXISTING NEIGHBORHOOD COMPATIBILITY REGULATIONS FOR SHORTTERM VACATION RENTALS AND MULTI-UNIT RESIDENTIAL
COMPLEXES AND EVALUATE POTENTIAL ENHANCEMENTS TO
PROTECT QUALITY OF LIFE
La Mesa’s neighborhoods are one of the community’s greatest strengths and are central to the City’s identity and quality of life. As the City continues to evolve, a proactive review of neighborhood compatibility policies presents an opportunity to ensure existing regulations remain clear, effective, and responsive to residents’ needs. Staff should evaluate potential enhancements to existing regulations, including stricter quiet hours, parking standards and vehicle limits, occupancy limits and registered guest requirements, a local responsible contact who can respond and arrive at the property within 30 minutes of the first complaint, and other operational standards that promote neighborhood compatibility, protect quality of life, and reduce nuisance impacts.
Staff should also evaluate the feasibility of establishing a voluntary Good Neighbor Pledge or Good Neighbor Certification Program that recognizes short-term rental operators, multifamily residential communities, and other participants, where appropriate, who voluntarily exceed minimum legal requirements through responsible stewardship, strict compliance with City ordinances, proactive education, and a commitment to preventing nuisance activities and promoting positive neighborhood relationships. This initiative supports the City’s Strategic Plan by advancing Safe Community, Livability, Financial Sustainability, and a High-Performing Organization.