Agenda — Lake Elsinore City Council, February 14, 2023 (part 1 of 3)

City of Lake Elsinore
City Council Meeting
Agenda – Final
Natasha Johnson, Mayor
Steve Manos, Mayor Pro Tem
Brian Tisdale, Council Member
Timothy J. Sheridan, Council Member
Robert E. Magee, Council Member
Jason Simpson, City Manager
Meeting Date:

February 14, 2023
Closed Session: 5:00 PM
Public Session: 7:00 PM
Cultural Center
183 N. Main Street
Lake Elsinore, CA 92530
CORONAVIRUS DISEASE (COVID‑19) ADVISORY
To protect our constituents, City officials and City staff, the City follows CDC, the California Department of Health Services’ and the County of Riverside Public Health Officer guidance for the Control of COVID ‑19. Additional information regarding COVID ‑19 is available on the City’s website at www.lake‑elsinore.org .

The February 14, 2023 City Council Meeting Adjourned Regular Meeting will be conducted in person.  Remote participation by the public and other interested persons will also be available in the following ways:
1)   Cable T.V. Broadcast on Spectrum Channel 29 and Frontier Channel 31. 2)   Livestream online at https://lakeelsinore.primegov.com/public/portal 3)   To call into the meeting and provide public comment via Zoom, register by clicking the following link before 5:00 p.m. on the day of the meeting:
https://us02web.zoom.us/s/86537585055
4)   Email public comments to calvarez@lake‑elsinore.org before the meeting. Comments received prior to 4:00 p.m. on the day of the meeting will be transmitted to the City Council Members.

The City of Lake Elsinore appreciates your attendance. Citizens’ interest provides the City Council and Agency with valuable information regarding issues of the community.

Meetings are held on the 2nd and 4th Tuesday of every month. The agenda is posted 72 hours prior to each meeting outside of City Hall. The agenda and related reports are also available on the City’s website at www.Lake‑Elsinore.org. Any writings distributed to the City Council within 72 hours of the meeting will be made available to the public at the time it is distributed to the City Council.

In compliance with the Americans with Disabilities Act, any person with a disability who requires a modification or accommodation in order to participate in a meeting should contact the City Clerk’s Department at (951) 674 ‑3124 Ext. 269, at least 48 hours before the meeting to make reasonable arrangements to ensure accessibility.

Dream Extreme 2040 is the City’s FIRST longterm strategic plan to assist the City in its pursuit of achieving its vision. The plan is a living document that will be updated regularly and serve as the framework to guide all decisionmaking over the next 20 years by identifying key Anchors,Aspirations, and Strategies.

Our Vision is the City of Lake Elsinore will be the ultimate destination where all can live, work, play, build futures, and fulfill dreams.

The Anchors are the City of Lake Elsinore’s unique community assets and opportunities: The Lake,Downtown, and Action and Adventure. • The Lake: Lake Elsinore is a vital community asset. Protecting, enhancing, and celebrating the Lake is critical to Lake Elsinore’s City and community health. • Downtown: Enhancing and creating the highest quality downtown experience will serve to create a strong sense of place that will shape the City’s identity as a place where residentsand visitors can live, work, and play.
• Action and Adventure: Lake Elsinore’s programs, facilities, and natural environment will define the City as a destination for action and adventure for both visitors and residents.

Our Aspirations are broad, longterm goals that encapsulate what we hope to achieve in Lake Elsinore’s future. The City has identified 4 key aspirations to work towards.

Items on the agenda that align with Aspirations from the Dream Extreme 2040 Plan are noted by the Aspiration’s icon to highlight City Council actions that help the City pursue its goals.

To read the plan and learn more about its implementation in the City, visit www.LakeElsinore.org/DreamExtreme2040.

CALL TO ORDER 7:00 P.M.

The Regular Meetings of the City Council and the Successor Agency will be called to order.

PLEDGE OF ALLEGIANCE
MOMENT Of SILENCE
ROLL CALL

PRESENTATIONS/CEREMONIALS
1) CalFire 2022 Fourth Quarter Statistical Update
PUBLIC COMMENTS NONAGENDIZED ITEMS 1 MINUTE
(Please read & complete a Request to Address the City Council/Successor Agency form prior to the start of the meeting and turn it in to the City Clerk/Clerk. The Mayor/Chair or City Clerk/Clerk will call on you to speak.)
CITY COUNCIL CONSENT CALENDAR
2) Minutes of the Regular City Council Meeting of January 24, 2023 Approve the Minutes.
3) CC Warrant Report Dated Dec 30, 2022 to Jan 05, 2023 Receive and File.
4) CC Warrant Report Dated Jan 06, 2023 to Jan 12, 2023 Receive and File.
5) CC Warrant Report Dated Jan 13, 2023 to Jan 19, 2023 Receive and File.
6) CC Warrant Report Dated Jan 20, 2023 to Jan 26, 2023 Receive and File.
7) CC Investment Report for December 2022
Receive and File the Investment Report for December 2022. 8) Second Reading of an Ordinance Amending the Ramsgate Development Agreement to Include Tentative Tract Map No. 33725
Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING A FIRST AMENDMENT TO THE RAMSGATE DEVELOPMENT AGREEMENT FOR THE PURPOSE OF INCLUDING TENTATIVE TRACT MAP NO. 33725 (DEVELOPMENT AGREEMENT NO. 202202).
9) Intention to Establish Community Facilities District No. 20231 of the City of Lake Elsinore (Lakeside)
Adopt A RESOLUTION OF INTENTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE TO ESTABLISH COMMUNITY FACILITIES DISTRICT NO. 20231 OF THE CITY OF LAKE ELSINORE (LAKESIDE), TO AUTHORIZE THE LEVY OF A SPECIAL TAX TO PAY THE COSTS OF ACQUIRING OR CONSTRUCTING CERTAIN FACILITIES AND TO PAY DEBT SERVICE ON BONDED INDEBTEDNESS; andAdopt A RESOLUTION OF INTENTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE TO INCUR BONDED INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $9,000,000 WITHIN PROPOSED COMMUNITY FACILITIES DISTRICT NO. 20231 OF THE CITY OF LAKE ELSINORE (LAKESIDE).
10) Professional Services Agreements with ALTA California Geotechnical Inc. and LOR Geotechnical Group Inc. for Oncall Geotechnical Services Approve and authorize the City Manager to execute Professional Services Agreements with ALTA California Geotechnical Inc. and LOR Geotechnical Group Inc. to provide oncall geotechnical testing services in an amount not to exceed $60,000 each in such final form as approved by the City Attorney.
11) Construction Agreement With Don Luginbill Roofing Inc. for Roof Replacements at Fire Station #85, Fire Station #94, Neighborhood Center, and Rosetta Canyon Sports Park
Approve and authorize the City Manager to execute a Construction Agreement with Don Luginbill Roofing Inc., (DBA JJ Roofing) for Roof Replacements at Fire Station #85, Fire Station #94, Neighborhood Center, and Rosetta Canyon Sports Park in an amount not to exceed $721,037.00 in such final form as approved by the City Attorney; andAuthorize the City Manager to execute change orders not to exceed a 10% contingency amount of $72,103.00 for uncertainties and adjustments.
12) Construction Agreement with Owen James Construction Inc. for Roof & Window Replacement at the Senior Center (CIP Project #Z20005)
Approve and authorize the City Manager to execute a Construction Agreement with Owen James Construction Inc. for Roof & Window Replacement at Senior Center in an amount not to exceed $275,500.00 in such final form as approved by the City Attorney; andAuthorize the City Manager to execute change orders not to exceed a 10% contingency amount of $27,550.00 for uncertainties and adjustments.
13) Change Order No. 1 to Public Works Construction Agreement with Regan Paving for the Asphalt Paving of Library Street Parking Lot
Approve and authorize the City Manager to execute Change Order No. 1 not exceeding $21,091.00 with Regan Paving for the asphalt paving of Library Street Parking Lot, Project No. Z10071, in final form, as approved by the City Attorney.

ITEMS REMOVED FROM THE CITY COUNCIL CONSENT CALENDAR
SUCCESSOR AGENCY CONSENT CALENDAR
14) Minutes of the Regular Successor Agency Meeting of January 24, 2023 Approve the Minutes.
15) SA Warrant Report Dated Dec 30, 2022 to Jan 05, 2023 Receive and File.
16) SA Warrant Report Dated Jan 06, 2023 to Jan 12, 2023 Receive and File.
17) SA Warrant Report Dated Jan 13, 2023 to Jan 19, 2023 Receive and File.
18) SA Warrant Report Dated Jan 20, 2023 to Jan 26, 2023 Receive and File.
19) SA Investment Report for December 2022
Receive and file the Investment Report for December 2022.

PUBLIC HEARINGS
20) Public Hearing and Election for Annexation Proceedings for Annexation No. 13 into Community Facilities District No. 20151 (Safety Services) Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 20151 (SAFETY SERVICES), ANNEXING TERRITORY TO COMMUNITY FACILITIES DISTRICT NO. 20151 (SAFETY SERVICES), AND CALLING ELECTIONS THEREIN; andAdopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF THE CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 20151 (SAFETY SERVICES) CERTIFYING THE RESULTS OF THE FEBRUARY 14, 2023 ANNEXATION AND SPECIAL TAX ELECTIONS.
21) Public Hearing and Election for Annexation Proceedings for Annexation No. 18 into Community Facilities District No. 20152 (Maintenance Services) for Lakeside Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, CALLING AN ELECTION TO SUBMIT TO THE QUALIFIED ELECTORS THE QUESTION OF LEVYING A SPECIAL TAX WITHIN THE AREA PROPOSED TO BE ANNEXED TO COMMUNITY FACILITIES DISTRICT NO. 20152 (MAINTENANCE SERVICES) (ANNEXATION NO. 18);Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, DECLARING ELECTION RESULTS FOR COMMUNITY FACILITIES DISTRICT NO. 20152 (MAINTENANCE SERVICES) (ANNEXATION NO. 18); andIntroduce AN ORDINANCE AMENDING ORDINANCE NO. 20161359 OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 20152 OF THE CITY OF LAKE ELSINORE (MAINTENANCE SERVICES) AUTHORIZING THE LEVY OF SPECIAL TAXES.

BUSINESS ITEM
22) Council Policy No. 40016 – Good Neighbor Policy for Warehousing, Logistics, and Distribution Uses
Find Council Policy No. 40016 Exempt from the California Environmental Quality Act (CEQA), pursuant to CEQA Guidelines Section 15061(b)(3);Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, ADOPTING COUNCIL POLICY NO. 40016 ESTABLISHING A GOOD NEIGHBOR POLICY FOR WAREHOUSING, LOGISTICS, AND DISTRIBUTION USES WITHIN THE CITY; andDirect staff to amend Title 17 (Zoning) of the Lake Elsinore Municipal Code to include definitions and modify applicable Zoning Districts for Warehousing, Logistics, and Distribution Uses.

PUBLIC COMMENTS NONAGENDIZED ITEMS 3 MINUTES
(Please read & complete a Request to Address the City Council/Successor Agency form prior to the start of the meeting and turn it in to the City Clerk/Clerk. The Mayor/Chair or City Clerk/Clerk will call on you to speak.)
CITY MANAGER COMMENTS
CITY ATTORNEY COMMENTS
CITY COUNCIL COMMENTS/REPORTS ON MEETINGS ATTENDED

ADJOURNMENT
The Lake Elsinore City Council will adjourn to the next Regular meeting of Tuesday, February 28, 2023 in the Cultural Center located at 183 N. Main Street. Closed Session will commence at 5:00 p.m. or such later time as noticed on the Agenda, and the regular Open Session business meeting will commence at 7:00 p.m.

AFFIDAVIT OF POSTING
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, do hereby affirm that a copy of the forgoing agenda was posted at City Hall at 5:00 p.m. on Thursday, February 9, 2023. _________________________
Candice Alvarez, MMC
City Clerk
City of Lake Elsinore

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The City of Lake Elsinore appreciates your attendance. Citizens’ interest provides the City Council and Agency with valuable information regarding issues of the community.

Our Vision is the City of Lake Elsinore will be the ultimate destination where all can live, work, play, build futures, and fulfill dreams.

Our Aspirations are broad, longterm goals that encapsulate what we hope to achieve in Lake Elsinore’s future. The City has identified 4 key aspirations to work towards.

Items on the agenda that align with Aspirations from the Dream Extreme 2040 Plan are noted by the Aspiration’s icon to highlight City Council actions that help the City pursue its goals.

To read the plan and learn more about its implementation in the City, visit www.LakeElsinore.org/DreamExtreme2040.

CALL TO ORDER 7:00 P.M.

The Regular Meetings of the City Council and the Successor Agency will be called to order.

PLEDGE OF ALLEGIANCE
MOMENT Of SILENCE
ROLL CALL

Page 2 ends

The City of Lake Elsinore appreciates your attendance. Citizens’ interest provides the City Council and Agency with valuable information regarding issues of the community.

Our Vision is the City of Lake Elsinore will be the ultimate destination where all can live, work, play, build futures, and fulfill dreams.

Our Aspirations are broad, longterm goals that encapsulate what we hope to achieve in Lake Elsinore’s future. The City has identified 4 key aspirations to work towards.

Items on the agenda that align with Aspirations from the Dream Extreme 2040 Plan are noted by the Aspiration’s icon to highlight City Council actions that help the City pursue its goals.

To read the plan and learn more about its implementation in the City, visit www.LakeElsinore.org/DreamExtreme2040.

CALL TO ORDER 7:00 P.M.

The Regular Meetings of the City Council and the Successor Agency will be called to order.

PLEDGE OF ALLEGIANCE
MOMENT Of SILENCE
ROLL CALL

Page 3 ends

The City of Lake Elsinore appreciates your attendance. Citizens’ interest provides the City Council and Agency with valuable information regarding issues of the community.

Our Vision is the City of Lake Elsinore will be the ultimate destination where all can live, work, play, build futures, and fulfill dreams.

Our Aspirations are broad, longterm goals that encapsulate what we hope to achieve in Lake Elsinore’s future. The City has identified 4 key aspirations to work towards.

Items on the agenda that align with Aspirations from the Dream Extreme 2040 Plan are noted by the Aspiration’s icon to highlight City Council actions that help the City pursue its goals.

To read the plan and learn more about its implementation in the City, visit www.LakeElsinore.org/DreamExtreme2040.

CALL TO ORDER 7:00 P.M.

The Regular Meetings of the City Council and the Successor Agency will be called to order.

PLEDGE OF ALLEGIANCE
MOMENT Of SILENCE
ROLL CALL

Page 4 ends

The City of Lake Elsinore appreciates your attendance. Citizens’ interest provides the City Council and Agency with valuable information regarding issues of the community.

Our Vision is the City of Lake Elsinore will be the ultimate destination where all can live, work, play, build futures, and fulfill dreams.

Our Aspirations are broad, longterm goals that encapsulate what we hope to achieve in Lake Elsinore’s future. The City has identified 4 key aspirations to work towards.

Items on the agenda that align with Aspirations from the Dream Extreme 2040 Plan are noted by the Aspiration’s icon to highlight City Council actions that help the City pursue its goals.

To read the plan and learn more about its implementation in the City, visit www.LakeElsinore.org/DreamExtreme2040.

CALL TO ORDER 7:00 P.M.

The Regular Meetings of the City Council and the Successor Agency will be called to order.

PLEDGE OF ALLEGIANCE
MOMENT Of SILENCE
ROLL CALL

Page 5 ends

The City of Lake Elsinore appreciates your attendance. Citizens’ interest provides the City Council and Agency with valuable information regarding issues of the community.

Our Vision is the City of Lake Elsinore will be the ultimate destination where all can live, work, play, build futures, and fulfill dreams.

Our Aspirations are broad, longterm goals that encapsulate what we hope to achieve in Lake Elsinore’s future. The City has identified 4 key aspirations to work towards.

Items on the agenda that align with Aspirations from the Dream Extreme 2040 Plan are noted by the Aspiration’s icon to highlight City Council actions that help the City pursue its goals.

To read the plan and learn more about its implementation in the City, visit www.LakeElsinore.org/DreamExtreme2040.

CALL TO ORDER 7:00 P.M.

The Regular Meetings of the City Council and the Successor Agency will be called to order.

PLEDGE OF ALLEGIANCE
MOMENT Of SILENCE
ROLL CALL

Page 6 ends

The City of Lake Elsinore appreciates your attendance. Citizens’ interest provides the City Council and Agency with valuable information regarding issues of the community.

Our Vision is the City of Lake Elsinore will be the ultimate destination where all can live, work, play, build futures, and fulfill dreams.

Our Aspirations are broad, longterm goals that encapsulate what we hope to achieve in Lake Elsinore’s future. The City has identified 4 key aspirations to work towards.

Items on the agenda that align with Aspirations from the Dream Extreme 2040 Plan are noted by the Aspiration’s icon to highlight City Council actions that help the City pursue its goals.

To read the plan and learn more about its implementation in the City, visit www.LakeElsinore.org/DreamExtreme2040.

CALL TO ORDER 7:00 P.M.

The Regular Meetings of the City Council and the Successor Agency will be called to order.

PLEDGE OF ALLEGIANCE
MOMENT Of SILENCE
ROLL CALL

Page 7 ends

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor or Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Candice Alvarez, MMC, City Clerk
Date: January 24, 2023
Subject: Minutes of the Regular City Council Meeting of January 10, 2022 Recommendation
Approve the Minutes.

Attachments
Attachment 1- Draft Minutes
City of Lake Elsinore
City Council Meeting Minutes – Draft
Natasha Johnson, Mayor
Steve Manos, Mayor Pro Tem
Brian Tisdale, Council Member
Timothy J. Sheridan, Council Member
Robert E. Magee, Council Member
Jason Simpson, City Manager
Meeting Date:

January 24, 2023
Closed Session: NONE
Public Session: 7:00 PM
Cultural Center
183 N. Main Street
Lake Elsinore, CA 92530
CALL TO ORDER - 7:00 P.M.

The Regular Meetings of the City Council and the Successor Agency will be called to order.

The Regular Meeting of the City Council was called to order at 7:00 p.m.

PLEDGE OF ALLEGIANCE
Council Member Tisdale led the Pledge of Allegiance.

INVOCATION/MOMENT OF SILENCE

ROLL CALL
Present- Council/Agency Members Tisdale, Sheridan, and Magee; Mayor Pro Tem/Vice Chair Manos; and Mayor/Chair Johnson

PRESENTATIONS/CEREMONIALS
1) Riverside County Sheriff's Office 2022 Third Quarter Statistical Update Lieutenant Clark presented the update.
2) National Jill Robinson Award
Present the National Jill Robinson Award on behalf of the Code Enforcement Officer Safety Foundation to Fred Lopez and the City of Lake Elsinore Code Enforcement Team.

Justin Edson, representing the Code Enforcement Officer Safety Foundation, presented the National Jill Robinson Award to Fred Lopez and the City’s Code Enforcement team.

City Council Minutes - Draft January 24, 2023

City of Lake Elsinore Page 2 :

PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 1 MINUTE
Ray Lopez was called to speak.

Douglas Norfolk was called to speak.

Kim Cousins was called to speak.

Derek Kinnison was called to speak.

Paulie Tehrani was called to speak.

Kimberly Ryan was called to speak.

Karen Holder was called to speak.

Melanie Shatzer was called to speak.

CITY COUNCIL CONSENT CALENDAR
Motion by Mayor Pro Tem Manos, second by Council Member Sheridan to approve the City Council Consent Calendar with Item No. 11 being removed from the agenda. The motion carried by the following vote:

Aye: 5 - Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
3) Minutes of the Regular City Council Meeting of January 10, 2022 Approve the Minutes.

This item was approved on the City Council Consent Calendar. 4) CC Warrant Report Dated Dec 16, 2022 to Dec 21, 2022 Receive and File.

This item was approved on the City Council Consent Calendar. 5) CC Warrant Report Dated Dec 22, 2022 to Dec 29, 2022 Receive and File.

This item was approved on the City Council Consent Calendar.

City Council Minutes - Draft January 24, 2023

City of Lake Elsinore Page 3 :
6) Fiscal Year 2022-2023 Mid-year Operating Budget Status Report

1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING THE FY2022-2023 ANNUAL OPERATING BUDGET FOR MID-YEAR ADJUSTMENTS; and

2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING THE FY2022-2023 SCHEDULE OF AUTHORIZED POSITIONS FOR MID-YEAR ADJUSTMENTS.

This item was approved on the City Council Consent Calendar. 7) Annual On-call and Construction Contractor Services Agreements in Support of City of Lake Elsinore Minor Construction, Maintenance and Operations.

Approve on-call minor construction contractor services agreements with AAA Restoration, Inc. in an amount not to exceed $100,000, Amber Airconditioning in an amount not to exceed $350,000, B&B Nurseries, Inc. (dba Landscape Center) in an amount not to exceed $250,000, Cotter Construction, Inc. in an amount not to exceed $250,000, Endresen Development, Inc. in an amount not to exceed $350,000, Hemet Fence, Inc. in an amount not to exceed $241,000, Pursuit Electric in an amount not to exceed $250,000, Unique Builders of California, Inc. in an amount not to exceed $350,000, and United Carports, LLC in an amount not to exceed $250,000 in the form attached and in such final form as approved by the City Attorney.

This item was approved on the City Council Consent Calendar. 8) Amendment No. 1 to the On-call Services Agreement with Wood Environment & Infrastructure Solutions, Inc. for Lake Water Testing
Approve and authorize the City Manager to execute Amendment No. 1 to the On-Call Services Agreement with Wood Environment & Infrastructure Solutions, Inc. USA (now Operating as WSP Environment & Infrastructure Solutions, Inc.) in such final form as approved by the City Attorney.

This item was approved on the City Council Consent Calendar. 9) Final Map No. 36557 (Terracina)

1. Approve Final Map No. 36557 subject to the City Engineer’s acceptance as being true and correct;

2. Authorize the City Clerk to sign the map and arrange for the recordation of Final Map No. 36557; and

3. Authorize the City Manager to execute the construction and monumentation agreement.

This item was removed from the City Council Consent Calendar for discussion.

City Council Minutes - Draft January 24, 2023

City of Lake Elsinore Page 4 :
10) Agreement With Cotter Construction for Serenity Park Fitness Trail Approve and authorize the City Manager to Execute a Public Works Construction Agreement with Cotter Construction for Serenity Park Fitness Trail for $160,000.00 and change orders not to exceed a 10% contingency amount of $16,000.00 for unanticipated costs in such final form as approved by the City Attorney.

This item was approved on the City Council Consent Calendar. 11) Agreement with AAA Restoration, Inc. for Swick & Matich Park Remodel (CIP Project #Z40023)

1. Approve and authorize the City Manager to execute an agreement not to exceed the amount of $192,023.40 for Swick & Matich Park Remodel with AAA Restoration Inc. in the form attached and in such final form as approved by the City Attorney; and

2. Authorize the City Manager to execute change orders not to exceed a 10% contingency amount of $19,202.34 for uncertainties and adjustments.

This item was removed from the agenda.

ITEMS REMOVED FROM THE CITY COUNCIL CONSENT CALENDAR FOR DISCUSSION 9)Final Map No. 36557 (Terracina)

1. Approve Final Map No. 36557 subject to the City Engineer’s acceptance as being true and correct;

2. Authorize the City Clerk to sign the map and arrange for the recordation of Final Map No. 36557; and

3. Authorize the City Manager to execute the construction and monumentation agreement.

Paulie Tehrani was called to speak.

City Engineer Habib presented a staff report.

Motion by Mayor Pro Tem Manos, second by Council Member Tisdale to approve staff’s recommendations. The motion carried by the following vote:

Aye: 5 - Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson

SUCCESSOR AGENCY CONSENT CALENDAR
Motion by Agency Member Tisdale, second by Agency Member Sheridan to approve the Successor Agency Consent Calendar noting Agency Member Sheridan’s abstention from voting on Item No. 15. The motion carried by the following vote:

Aye: 5 - Agency Members Tisdale, Sheridan, and Magee; Vice Chair Manos; and Chair Johnson
City Council Minutes - Draft January 24, 2023

City of Lake Elsinore Page 5 :
12) Minutes of the Regular Successor Agency Meeting of January 10, 2022 Approve the Minutes.

This item was approved on the Successor Agency Consent Calendar. 13) SA Warrant Report Dated Dec 16, 2022 to Dec 21, 2022 Receive and File.

This item was approved on the Successor Agency Consent Calendar. 14) SA Warrant Report Dated Dec 22, 2022 to Dec 29, 2022 Receive and File.

This item was approved on the Successor Agency Consent Calendar. 15) Annual On-call and Construction Contractor Services Agreements in Support of the Successor Agency of the Redevelopment Agency of the Agency of Lake Elsinore Minor Construction, Maintenance, and Operations
Approve on-call minor construction contractor services agreements with Amber Airconditioning in an amount not to exceed $100,000, California State Fire Protection in an amount not to exceed $40,000, Cotter Construction, Inc. in an amount not to exceed $50,000, Endresen Development, Inc. in an amount not to exceed $275,000, Pursuit Electric in an amount not to exceed $75,000, and Unique Builders of California, Inc. in an amount not to exceed $275,000 in the form attached and in such final form as approved by the Agency Attorney.

This item was approved on the Successor Agency Consent Calendar.

PUBLIC HEARING
16) First Amendment to Development Agreement No. 2022-02 (Ramsgate) to Include Tentative Tract Map No. 33725, a 52.7-acre Subdivision With 204 Lots, to the Development Agreement for the Ramsgate Specific Plan
Introduce by title only and waive further reading of AN ORDINANCE OF THE CITY

COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING A FIRST

AMENDMENT TO THE RAMSGATE DEVELOPMENT AGREEMENT FOR THE PURPOSE OF INCLUDING TENTATIVE TRACT MAP NO. 33725 (DEVELOPMENT AGREEMENT NO. 2022-02).

City Council Minutes - Draft January 24, 2023

City of Lake Elsinore Page 6 :

The Public Hearing was opened at 7:31 p.m.

Jon Shardlow was called to speak.

Interim Assistant Community Development Director Abraham presented the staff report.

The Public Hearing was closed at 7:36 p.m.

Motion by Council Member Tisdale, second by Mayor Pro Tem Manos to introduce the Ordinance. The motion carried by the following vote:

Aye: 5 - Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson

PUBLIC COMMENTS - NON-AGENDIZED ITEMS - THREE MINUTES
Israel Carlos Ceballos was called to speak.

CITY MANAGER'S COMMENTS
City Manager Simpson recognized the outpouring of support and staff’s assistance collaborating on the vigil for Deputy Calhoun.

CITY ATTORNEY COMMENTS
City Attorney Leibold had no comments.

CITY COUNCIL COMMENTS/REPORTS ON MEETINGS ATTENDED
Council Member Tisdale announced Earned Income Tax Credit Awareness Day on Friday, January 27, 2023 from 9:00 a.m. to 3:00 p.m. at Community Action Partnership in Riverside; and reported on his attendance at the Northwest Mosquito & Vector Control District Board meeting on January 19, 2023.

Mayor Pro Tem Manos addressed comments made during public comments; reported on his attendance at the Riverside County Airport Land Use Commission meeting on January 12, 2023, Elsinore Valley Municipal Water District meeting on January 12, 2023, and Southern California Association of Governments meeting on January 18, 2023; and provided an overview of the Collier Avenue/Minthorn Street Resurfacing Improvements Project.

Council Member Sheridan expressed his sympathy to Deputy Calhoun’s family and the Riverside County Sheriff’s Department; and announced a Speaker Series event hosted by the Lake Elsinore Historical Society which will be held on February 23, 2023 at 7:00 p.m. in the Cultural Center.

Council Member Magee shared his participation in the groundbreaking ceremony for the 71/91 Interchange Project on January 19, 2023; encouraged anglers to purchase or renew their Lake Pass; and shared that Supervisor Spiegel supported the approval of funding for the Alberhill Ranch Boys & Girls Clubhouse Improvements Project.

Mayor Johnson provided an update on the Lake and algae levels; invited the community to attend the Mornings on Main Farmers Market every Sunday from 10:00 a.m. to 2:00 p.m. returning February 12, 2023 in Downtown; and expressed condolences to Deputy Darnell Calhoun’s family and shared a video representing the vigil that was held in his honor on Tuesday, January 17, 2023.

City Council Minutes - Draft January 24, 2023

City of Lake Elsinore Page 7 :

ADJOURNMENT
The Lake Elsinore City Council adjourned at 8:08 p.m. to the next Regular meeting of Tuesday, February 14, 2023 in the Cultural Center located at 183 N. Main Street. Closed Session will commence at 5:00 p.m. or such later time as noticed on the Agenda, and the regular Open Session business meeting will commence at 7:00 p.m.

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REPORT TO CITY COUNCIL
To: Honorable Mayor or Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Shannon Buckley, Assistant City Manager
Date: February 14, 2023
Subject: CC Warrant Report Dated Dec 30, 2022 to Jan 05, 2023

Recommendation
Receive and File.

Discussion
The Warrant Report lists all general checks issued since the prior Warrant Report.

Attachments
Attachment 1 - Warrant Summary
Attachment 2 - Warrant Listing
DEC 30, 2022 TO JAN 05, 2023 CITY OF LAKE ELSINORE WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
100 GENERAL 984,706.44$
103 THE ANCHOR 72,984.70
110 GAS TAX 5,887.06
130 LIGHTING, LANDSCAPE, MAINTENANCE DIST - CITYWIDE 41,793.43 135 LIGHTING, LANDSCAPE, MAINTENANCE DIST - NO. 1 4,284.61 155 NATIONAL POLLUTANT DISCHARGE ELIMINATION SYSTEM 172.50 180 LAUNCH POINTE 108,003.81
300 INSURANCE SERVICE (8,665.59)
305 INFORMATION SYSTEMS SERVICE 27,593.37
310 SUPPORT SERVICE 792.61
315 FLEET SERVICE 19,744.15
320 FACILITIES SERVICE 15,798.66
500 CAPITAL IMPROVEMENT PLAN 195,347.13
620 COST RECOVERY TRUST DEPOSITS 14,664.70
GRAND TOTAL 1,483,107.58$
Attachment 1 1 of 1
DEC 30, 2022 to JAN 05, 2023 CITY OF LAKE ELSINORE WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA23002125 ALBERT WEBB & ASSOCIATES 5,148.25$
APA23002126 AMAZON BUSINESS 564.49
APA23002127 APPLE ONE 10,400.00
APA23002128 AZTECA CLEANING SERVICES LLC 8,742.08
APA23002129 BANK OF AMERICA (0061) 97.86
APA23002130 BANK OF AMERICA (6876) 5,030.58
APA23002131 CALIFORNIA DEPARTMENT OF TRANSPORTATION 7,094.86 APA23002132 CALIFORNIA STATE FIRE PROTECTION 135.00
APA23002133 CED LAGUNA 223.27
APA23002134 CENTURY LINK 49.71
APA23002135 CHARLES ABBOTT ASSOCIATES, INC. 595.00
APA23002136 CHARTER COMMUNICATIONS 999.00
APA23002137 CHARTER COMMUNICATIONS 28.34
APA23002138 CINTAS CORPORATION NO. 2 418.95
APA23002139 CM WASH EQUIPMENT 1,318.92
APA23002140 COTTER CONSTRUCTION, INC. 5,000.00
APA23002141 COUNTY OF RIVERSIDE DEPT. OF ENVIRONMENTAL HEALTH 422.00 APA23002142 DAVID EVANS AND ASSOCIATES, INC. 6,178.74
APA23002143 DOWNS ENERGY 4,101.02
APA23002144 ENDRESEN DEVELOPMENT, INC. 53,360.94
APA23002145 ENVIROMINE, INC. 11,491.25
APA23002146 EPD SOLUTIONS, INC. 3,754.20
APA23002147 EVMWD 17,111.89
APA23002148 FCG CONSULTANTS, INC. 48,917.17
APA23002149 FRONTIER CALIFORNIA, INC. 116.71
APA23002150 FRONTIER CALIFORNIA, INC. 112.92
APA23002151 GOTO TECHNOLOGIES USA, INC. 2,951.47
APA23002152 HANCOCK, LORENA 3,795.00
APA23002153 HOWARD INDUSTRIES, INC. 316.77
APA23002154 HUNSAKER & ASSOCIATES IRVINE, INC. 7,788.43 APA23002155 JON'S FLAGS & POLES INC. 874.93
APA23002156 KJ SERVICES ENVIRONMENTAL CONSULTING 1,105.00 APA23002157 LAKE ELSINORE TIRE & AUTO, INC. 940.84
APA23002158 LIEBERT CASSIDY WHITMORE 680.00
APA23002159 LIUNA LOCAL 777 732.00
APA23002160 LOR GEOTECHNICAL GROUP 2,917.20
APA23002161 MILLENNIUM ALARM SYSTEMS, INC. 285.00
APA23002162 MISSION SQUARE RETIREMENT 6,981.18
APA23002163 MISSION SQUARE RETIREMENT 374.83
APA23002164 MURRIETA LOCK & SAFE, INC. 690.38
APA23002165 NTH GENERATION COMPUTING, INC. 1,968.00
APA23002166 O'REILLY AUTO STORES INC/FIRST CALL 291.64
APA23002167 PRUDENTIAL OVERALL SUPPLY 417.66
APA23002168 QUADIENT LEASING USA, INC. 792.61
Attachment 2 1 OF 3
DEC 30, 2022 to JAN 05, 2023 CITY OF LAKE ELSINORE WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA23002169 READYREFRESH 415.08
APA23002170 REGIONAL CONSERVATION AUTHORITY 319,707.00
APA23002171 REGIONAL FIRST AID, INC. 357.75
APA23002172 RENTERIA, YARABITH BUENFIL 806.25
APA23002173 RIGHTWAY SITE SERVICES, INC. 428.34
APA23002174 ROBBINS PEST MANAGEMENT, INC. 260.00
APA23002175 SECURITAS SECURITY SERVICES USA, INC. 3,130.80 APA23002176 SHRED-IT USA, LLC 85.60
APA23002177 SMART & FINAL 388.05
APA23002178 SOCIAL WORK ACTION GROUP 35,585.31
APA23002179 SOCIAL WORK ACTION GROUP 33,817.55
APA23002180 SOUTHERN CALIFORNIA EDISON CO. 28,543.51
APA23002181 STAUFFER LAWN EQUIPMENT 806.15
APA23002182 STK ARCHITECTURE, INC. 25,539.02
APA23002183 STORYLAND STUDIOS DBA PLAINJOE STUDIOS 12,597.11 APA23002184 SUPERTOTS & SKYHAWKS SPORTS ACADEMIES 351.00 APA23002185 TC SPORTS MANAGEMENT, LLC 15,100.00
APA23002186 TC SPORTS MANAGEMENT, LLC 18,500.00
APA23002187 TEAM AUTOAID, INC. 407.35
APA23002188 TOP SERVICE PLUMBING, INC. 2,970.00
APA23002189 TRENCH SHORING COMPANY 94.80
APA23002190 ULINE, INC. 3,722.91
APA23002191 VALLEY-WIDE ELITE GYMNASTICS 993.71
APA23002192 VASQUEZ, OSCAR 170.00
APA23002193 VULCAN MATERIALS COMPANY 251.20
APA23002194 WAXIE SANITARY SUPPLY 76.32
APA23002195 WEST COAST ARBORISTS, INC. 35,471.00
APA23002196 WESTERN RIVERSIDE COUNCIL OF GOVT'S 20,394.76 APA23002197 WKE, INC. 6,099.83
APA23002198 WKE, INC. 27,984.83
APA23002199 WSP USA ENVIRONMENT & INFRASTRUCTURE SOLUTIONS, INC. 45,103.78 DFT230205 FRONTIER CALIFORNIA - INTERNET 460.98
DFT230223 DISH 137.19
DFT230228 TASC 3,891.77
DFT230229 FRANCHISE TAX BOARD 18,341.28
DFT230230 INTERNAL REVENUE SERVICE 198.50
DFT230231 EMPLOYMENT DEVELOPMENT DEPARTMENT 150.00
DFT230232 STATE DISBURSEMENT UNIT 438.46
DFT230233 PAYCHEX OF NEW YORK, LLC 1,148.78
DFT230234 LIUNA NATIONAL (INDUSTRIAL) PENSION FUND 814.28 DFT230235 NATIONWIDE TRUST COMPANY, FSB 1,088.82
DFT230238 INTERNAL REVENUE SERVICE 99,736.11
DFT230240 GUARDIAN 17,484.14
DFT230241 CALPERS 176,471.72
Attachment 2 2 OF 3
DEC 30, 2022 to JAN 05, 2023 CITY OF LAKE ELSINORE WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
PR01052023 NET PAYROLL 281,760.01
5411 AMERICAN EXPRESS 14,009.44
143217 COASTAL CARPET CLEANING 1,501.00
GRAND TOTAL 1,483,107.58$
Attachment 2 3 OF 3

Page 1 of 1 ends

Recommendation
Receive and File.

Discussion
The Warrant Report lists all general checks issued since the prior Warrant Report.

Attachments
Attachment 1 - Warrant Summary
Attachment 2 - Warrant Listing
JAN 06, 2023 TO JAN 12, 2023 CITY OF LAKE ELSINORE WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
100 GENERAL 191,745.76$
103 THE ANCHOR 5,811.92
110 GAS TAX 38,124.49
114 SB1186 CASp EDUCATION PROGRAM 260.00
130 LIGHTING, LANDSCAPE, MAINTENANCE DIST - CITYWIDE 60,035.00 135 LIGHTING, LANDSCAPE, MAINTENANCE DIST - NO. 1 7,538.07 155 NATIONAL POLLUTANT DISCHARGE ELIMINATION SYSTEM 14,280.00 180 LAUNCH POINTE 27,855.93
300 INSURANCE SERVICE 303.36
305 INFORMATION SYSTEMS SERVICE 39,336.26
310 SUPPORT SERVICE 3,576.73
315 FLEET SERVICE 6,083.51
320 FACILITIES SERVICE 10,532.36
330 CFD 2015-2S MAINTENANCE SERVICES 277.84
338 CFD 2006-1 IA-JJ SUMMERLY IMPROVEMENT 2,000.00
340 CFD 2006-1 IA-EE SUMMERLY IMPROVEMENT 2,000.00
351 CFD 2006-1 IA-II SUMMERLY IMPROVEMENT 2,000.00
370 CFD 2006-1 IA-HH SUMMERLY IMPROVEMENT 2,000.00
384 CFD 2003-2 IA-B CANYON HILLS IMPROVEMENT 3,000.00
500 CAPITAL IMPROVEMENT PLAN 585,337.12
510 SARDA AREA I, II, & III 2,500.00
540 SARDA DIAMOND STADIUM 185,501.86
620 COST RECOVERY TRUST DEPOSITS 11,178.09
653 CFD 2009-1S PARK,OPEN SPACE,STREET LIGHT SERVICES 1,340.52 GRAND TOTAL 1,202,618.82$
Attachment 1 1 of 1
JAN 06, 2023 to JAN 12, 2023 CITY OF LAKE ELSINORE WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA23002200 AAA RESTORATION, INC. 13,842.90$
APA23002201 ABOVE ALL NAMES CONSTRUCTION, INC. 76,767.00 APA23002202 ACTION GAS & WELDING SUPPLY 75.28
APA23002203 ALVAREZ ENTERPRISE SERVICES 21,395.72
APA23002204 AMAZON BUSINESS 323.83
APA23002205 AMERICAN MATERIAL COMPANY 63.66
APA23002206 ANEEN CONSTRUCTION, INC. 243,270.30
APA23002207 AUTOMATED GATE SERVICES, INC 1,004.00
APA23002208 AZTECA CLEANING SERVICES LLC 11,939.58
APA23002209 BRINKS INCORPORATED 7.58
APA23002210 BRINKS INCORPORATED 634.04
APA23002211 CA BUILDING STANDARDS COMMISSION 2,161.00
APA23002212 CA PARK & RECREATION SOCIETY, INC. 150.00
APA23002213 CALIFORNIA, DIVISION OF THE STATE ARCHITECT 260.00 APA23002214 CED LAGUNA 2,182.36
APA23002215 CIVIC PLUS, INC. 11,915.11
APA23002216 COMMERCIAL DOOR COMPANY, INC. 4,451.00
APA23002217 CORODATA RECORDS MANAGEMENT, INC. 134.37
APA23002218 CORONA CLAY COMPANY 97.88
APA23002219 DAVID EVANS AND ASSOCIATES, INC. 17,741.98
APA23002220 DEPARTMENT OF CONSERVATION 7,318.61
APA23002221 DIAZ, FRANCISCO 476.98
APA23002222 DOWNS ENERGY 144.63
APA23002223 ENDRESEN DEVELOPMENT, INC. 29,321.11
APA23002224 EVENTSTABLE 6,910.29
APA23002225 EWING 4,019.49
APA23002226 EXCEL LANDSCAPE, INC. 19,107.50
APA23002227 FERGUSON 297.92
APA23002228 FIX AUTO LAKE ELSINORE 4,586.59
APA23002229 FRONTIER CALIFORNIA - INTERNET 818.02
APA23002230 FRONTIER CALIFORNIA, INC. 57.28
APA23002231 ILAND INTERNET SOLUTION CORPORATION 1,297.06 APA23002232 IMPACT PROMOTIONAL PRODUCTS 2,137.86
APA23002233 INLAND EMPIRE SURVEY & ENGINEERING INC. 1,697.32 APA23002234 INNOVATIVE DOCUMENT SOLUTIONS 1,576.73
APA23002235 JOHNSON, NATASHA 40.88
APA23002236 KERR, CHRISTIAN 85.00
APA23002237 LANCE, SOLL & LUNGHARD, LLP 5,977.00
APA23002238 MICHAEL RUBINO LAW OFFICE 2,215.00
APA23002239 NPG, INC. 14,280.00
APA23002240 OFFICE OF ECONOMIC DEVELOPMENT 6,885.87
APA23002241 PRESS-ENTERPRISE, THE 894.06
APA23002242 PRIME GOVERNMENT SOLUTIONS, INC. 16,190.00
APA23002243 PROSTAFF, LLC 9,275.00
Attachment 2 1 OF 2
JAN 06, 2023 to JAN 12, 2023 CITY OF LAKE ELSINORE WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA23002244 PROSTAFF, LLC 21,962.50
APA23002245 PRUDENTIAL OVERALL SUPPLY 424.04
APA23002246 PURSUIT ELECTRIC, INC. 3,093.82
APA23002247 PVP COMMUNICATIONS, INC. 440.00
APA23002248 QUADIENT FINANCE USA, INC. 2,000.00
APA23002249 REGAN PAVING 72,120.00
APA23002250 RIGHTWAY SITE SERVICES, INC. 5,630.81
APA23002251 RIVERSIDE COUNTY HABITAT CONSERVATION AGENCY 90.00 APA23002252 RIVERSIDE COUNTY TRANSPORTATION & LAND MANAGEMENT 30,756.84 APA23002253 RODRIGUEZ, ARTURO 85.00
APA23002254 RP LANDSCAPE & IRRIGATION 69,424.85
APA23002255 SECURITAS SECURITY SERVICES USA, INC. 3,470.10 APA23002256 SOMMER ENGINEERING, INC. 14,104.68
APA23002257 SOUTHERN CALIFORNIA EDISON CO. 34,578.09
APA23002258 SOUTHERN CALIFORNIA GAS CO. 2,904.74
APA23002259 SPICER CONSULTING GROUP 1,830.00
APA23002260 STAUFFER LAWN EQUIPMENT 260.96
APA23002261 STK ARCHITECTURE, INC. 124,708.48
APA23002262 SUNBELT RENTALS, INC. 4,414.38
APA23002263 TARGET SPECIALTY PRODUCTS 6,339.08
APA23002264 THOMSON REUTERS - WEST PUBLISHING CORP. 475.45 APA23002265 UNITED CARPORTS, LLC 171,000.00
APA23002266 VERIZON WIRELESS (#1) 2,879.81
APA23002267 VERIZON WIRELESS (#2) 3,564.16
APA23002268 VULCAN MATERIALS COMPANY 953.29
APA23002269 WILMINGTON TRUST, NATIONAL ASSOCIATION 13,500.00 DFT230227 CHARTER COMMUNICATIONS 29.99
DFT230237 CALPERS 60,217.05
5413 AK SECURITY ALARM LLC 7,332.91
GRAND TOTAL 1,202,618.82$
Attachment 2 2 OF 2

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Shannon Buckley, Assistant City Manager
Date: February 14, 2023
Subject: CC Warrant Report Dated Jan 13, 2023 to Jan 19, 2023

Recommendation
Receive and File.

Discussion
The Warrant Report lists all general checks issued since the prior Warrant Report.

Attachments
Attachment 1 - Warrant Summary
Attachment 2 - Warrant Listing
JAN 13, 2023 TO JAN 19, 2023 CITY OF LAKE ELSINORE WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
100 GENERAL 529,251.83$
103 THE ANCHOR 3,937.00
105 MISC. GENERAL PROJECTS 2,730.00
110 GAS TAX 285.09
130 LIGHTING, LANDSCAPE, MAINTENANCE DIST - CITYWIDE 16,598.96 135 LIGHTING, LANDSCAPE, MAINTENANCE DIST - NO. 1 1,848.63 155 NATIONAL POLLUTANT DISCHARGE ELIMINATION SYSTEM 2,090.45 180 LAUNCH POINTE 79,712.60
300 INSURANCE SERVICE (8,826.79)
305 INFORMATION SYSTEMS SERVICE 26,159.44
310 SUPPORT SERVICE 1,124.55
315 FLEET SERVICE 23,604.20
320 FACILITIES SERVICE 38,752.57
330 CFD 2015-2S MAINTENANCE SERVICES 795.02
331 CFD 2006-1 IA-CC SUMMERLY IMPROVEMENT 663.30
332 CFD 2006-1 IA-B SUMMERLY IMPROVEMENT 681.08
333 CFD 2015-4 TERRACINA IMPROVEMENT 681.08
334 CFD 2015-5 TRIESTE IMPROVEMENT 663.30
335 CFD 2003-2 IA-E CANYON HILLS IMPROVEMENT 663.30
336 CFD 2006-1 IA-FF SUMMERLY IMPROVEMENT 681.08
337 CFD 2016-2 CANYON HILLS IMPROVEMENT 643.98
338 CFD 2006-1 IA-JJ SUMMERLY IMPROVEMENT 681.08
339 CFD 2006-1 IA-KK SUMMERLY IMPROVEMENT 486.48
340 CFD 2006-1 IA-EE SUMMERLY IMPROVEMENT 663.30
342 CFD 2007-5S RED KITE SERVICES 486.48
343 CFD 2006-2S VISCAYA SERVICES 486.48
344 CFD 2005-2S ALBERHILL RANCH SERVICES 486.48
345 CFD 2003-2 IA-D CANYON HILLS IMPROVEMENT 1,344.38
347 CFD 2006-1 IA-A SUMMERLY IMPROVEMENT 681.08
350 CFD 98-1 SUMMERHILL IMPROVEMENT 681.08
351 CFD 2006-1 IA-II SUMMERLY IMPROVEMENT 663.30
354 CFD 90-2 TUSCANY HILLS IMPROVEMENT 1,848.70
355 RAD 2021-1 CANYON HILLS IMPROVEMENT 486.48
357 CFD 2003-2 IA-A CANYON HILLS IMPROVEMENT 875.67
358 CFD 2007-4S MAKENNA SERVICES 486.48
359 CFD 2021-1 IA-2 TUSCANY VALLEY & CREST IMPROVEMENT 583.33 362 CFD 2006-8S RUNNING DEER ESTATES SERVICES 486.48
366 CFD 2005-6 CITY CENTER TOWNHOMES IMPROVEMENT 1,167.56 367 CFD 2006-1S SUMMERLY SERVICES 486.48
368 CFD 2006-2 VISCAYA IMPROVEMENT 486.48
369 CFD 2004-3 IA-1 ROSETTA CANYON IMPROVEMENT 681.08
Attachment 1 1 of 2
JAN 13, 2023 TO JAN 19, 2023 CITY OF LAKE ELSINORE WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
370 CFD 2006-1 IA-HH SUMMERLY IMPROVEMENT 681.08
371 CFD 2005-1 SERENITY IMPROVEMENT 681.08
372 CFD 2005-2 IA-A ALBERHILL RANCH IMPROVEMENT 681.08
373 CFD 2005-5S WASSON CANYON SERVICES 486.48
374 CFD 2005-4 LAKEVIEW VILLAS IMPROVEMENT 243.24
375 CFD 2006-4 CLURMAN IMPROVEMENT 243.24
376 CFD 2006-3 LA STRADA IMPROVEMENT 486.48
377 CFD 2006-6 TESSARA IMPROVEMENT 291.89
378 CFD 2006-8 RUNNING DEER ESTATES IMPROVEMENT 643.98
384 CFD 2003-2 IA-B CANYON HILLS IMPROVEMENT 2,335.13
385 CFD 2004-3 IA-2 ROSETTA CANYON IMPROVEMENT 681.08
386 CFD 2007-4 MAKENNA IMPROVEMENT 643.98
387 CFD 2007-5 RED KITE IMPROVEMENT 643.98
390 CFD 2003-2 IA-C CANYON HILLS IMPROVEMENT 1,751.34
392 CFD 95-1 CIVIC CENTER IMPROVEMENT 681.08
394 CFD 2005-5 WASSON CANYON IMPROVEMENT 486.48
395 CFD 2018-1 WASSON CANYON II IMPROVEMENT 459.99
396 CFD 2019-2 NICHOLS RANCH IMPROVEMENT 654.18
397 CFD 2019-1 WESTLAKE IMPROVEMENT 654.18
398 CFD 2021-1 TUSCANY VALLEY & CREST IMPROVEMENT 583.33 500 CAPITAL IMPROVEMENT PLAN 576,040.11
510 SARDA AREA I, II, & III 2,000.00
540 SARDA DIAMOND STADIUM 81,624.00
608 TRUST DEPOSITS 1,500.00
620 COST RECOVERY TRUST DEPOSITS 16,870.30
650 CFD 2003-1S LAW,FIRE, PARAMEDIC SERVICES 681.08
651 CFD 2006-5S PARK, OPEN SPACE, STORM DRAIN SERVICES 486.48 652 CFD 2007-1S LAW,FIRE, PARAMEDIC SERVICES 486.48
653 CFD 2009-1S PARK,OPEN SPACE,STREET LIGHT SERVICES 486.48 655 CFD 2015-1S LAW, FIRE, PARAMEDIC SERVICES 795.03
GRAND TOTAL 1,431,972.81$
Attachment 1 2 of 2
JAN 13, 2023 to JAN 19, 2023 CITY OF LAKE ELSINORE WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA23002270 ACCURATE SECURITY PROS, INC. 5,553.50$
APA23002271 ALLEGRA MARKETING PRINT MAIL 70.69
APA23002272 AMAZON BUSINESS 1,196.36
APA23002273 AMERICAN FORENSIC NURSES, INC. 103.31
APA23002274 AMERICAN MATERIAL COMPANY 420.25
APA23002275 ANDERSON CHEVROLET 208.73
APA23002276 ANGLER CHRONICLES, LLC 8,000.00
APA23002277 ANIMO LIMITED LLC 740.00
APA23002278 AUTOMATED GATE SERVICES, INC 304.00
APA23002279 AZTECA CLEANING SERVICES LLC 1,890.00
APA23002280 BANNER BANK 11,553.70
APA23002281 BIO-TOX LABORATORIES 2,805.03
APA23002282 BLACK TIE LAUNDRY 306.04
APA23002283 BLAIS & ASSOCIATES, INC. 2,730.00
APA23002284 CALIFORNIA, DEPARTMENT OF JUSTICE 140.00
APA23002285 CALIFORNIA, DEPARTMENT OF JUSTICE 525.00
APA23002286 CDW GOVERNMENT, INC. 718.42
APA23002287 CINTAS CORPORATION NO. 2 551.74
APA23002288 CM WASH EQUIPMENT 1,119.32
APA23002289 COTTER CONSTRUCTION, INC. 35,000.00
APA23002290 DAVID EVANS AND ASSOCIATES, INC. 12,492.54
APA23002291 DEPARTMENT OF MOTOR VEHICLES 10.00
APA23002292 DIRECTV 154.99
APA23002293 DISCOUNT HAULING & CLEANUP SERVICE 3,550.00 APA23002294 DMC ENTERPRISES 39,503.48
APA23002295 DOWNS ENERGY 4,310.74
APA23002296 DUSTIN THOMPSON PHOTOGRAPHY 1,750.00
APA23002297 ENDRESEN DEVELOPMENT, INC. 74,662.74
APA23002298 ENGINEERING RESOURCES OF SO CA 1,685.00
APA23002299 ENGINEERING RESOURCES OF SO CA 6,551.38
APA23002300 EVMWD 15,675.44
APA23002301 EXCEL LANDSCAPE, INC. 700.00
APA23002302 FEDERAL EXPRESS CORPORATION 175.18
APA23002303 FERNANDEZ, SAVANNAH 180.32
APA23002304 FRONTIER CALIFORNIA - INTERNET 85.98
APA23002305 FRONTIER CALIFORNIA, INC. 57.89
APA23002306 GMS ELEVATOR SERVICES, INC. 330.00
APA23002307 GREAT AMERICA FINANCIAL SERVICES 949.37
APA23002308 GRIFFITH COMPANY 219,520.28
APA23002309 HAZZARD BACKFLOW, INC. 175.00
APA23002310 HDR ENGINEERING, INC. 36,672.47
APA23002311 HDR ENGINEERING, INC. 4,934.06
APA23002312 HDR ENGINEERING, INC. 11,835.41
APA23002313 HDR ENGINEERING, INC. 11,301.88
Attachment 2 1 OF 3
JAN 13, 2023 to JAN 19, 2023 CITY OF LAKE ELSINORE WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA23002314 HILLCREST CONTRACTING, INC 7,220.00
APA23002315 HOME DEPOT 500.00
APA23002316 HOME DEPOT 500.00
APA23002317 HOME DEPOT 500.00
APA23002318 HUNSAKER & ASSOCIATES IRVINE, INC. 25,742.78 APA23002319 LAKE ELSINORE TIRE & AUTO, INC. 1,977.01
APA23002320 LIUNA LOCAL 777 732.00
APA23002321 LOWE'S 6,349.96
APA23002322 MILLENNIUM ALARM SYSTEMS, INC. 711.00
APA23002323 MISSION SQUARE RETIREMENT 376.38
APA23002324 MISSION SQUARE RETIREMENT 7,018.13
APA23002325 MOTOPORT USA 2,637.15
APA23002326 MURRIETA LOCK & SAFE, INC. 779.47
APA23002327 NETFILE, INC. 5,440.00
APA23002328 O'REILLY AUTO STORES INC/FIRST CALL 203.40
APA23002329 PRESS-ENTERPRISE, THE 408.53
APA23002330 PROSTAFF, LLC 19,600.00
APA23002331 PROSTAFF, LLC 8,050.00
APA23002332 PROSTAFF, LLC 8,050.00
APA23002333 PRUDENTIAL OVERALL SUPPLY 424.04
APA23002334 PURSUIT ELECTRIC, INC. 2,390.67
APA23002335 QUINN COMPANY 148.45
APA23002336 REGAN PAVING 23,272.10
APA23002337 RIGHTWAY SITE SERVICES, INC. 3,043.51
APA23002338 ROBBINS PEST MANAGEMENT, INC. 4,625.00
APA23002339 RP LANDSCAPE & IRRIGATION 14,292.00
APA23002340 SAFETY-KLEEN SYSTEMS, INC. 239.17
APA23002341 SALES AND DISTRIBUTION SERVICES, INC. 1,109.69 APA23002342 SECURITAS SECURITY SERVICES USA, INC. 3,444.00 APA23002343 SELVAGGIO, JOSEPH 170.00
APA23002344 SERVICE FIRST 3,545.00
APA23002345 SIGNATURE SYSTEMS GROUP, LLC 65,524.00
APA23002346 SONSRAY MACHINERY, LLC 423.61
APA23002347 SOUTHERN CALIFORNIA EDISON CO. 383.14
APA23002348 SOUTHERN CALIFORNIA GAS CO. 1,912.04
APA23002349 SPICER CONSULTING GROUP 42,215.84
APA23002350 STAUFFER LAWN EQUIPMENT 1,103.48
APA23002351 STEVE'S TOWING 1,848.00
APA23002352 TEAM AUTOAID, INC. 1,614.38
APA23002353 URBAN RESTORATION GROUP US, INC. 351.77
APA23002354 VALLEY-WIDE ELITE GYMNASTICS 875.96
APA23002355 VERIZON WIRELESS (#13) 230.94
APA23002356 WAXIE SANITARY SUPPLY 1,036.88
APA23002357 WEST COAST ARBORISTS, INC. 20,672.00
Attachment 2 2 OF 3
JAN 13, 2023 to JAN 19, 2023 CITY OF LAKE ELSINORE WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA23002358 WILLDAN 733.25
APA23002359 WILMINGTON TRUST, NATIONAL ASSOCIATION 2,000.00 APA23002360 WSP USA ENVIRONMENT & INFRASTRUCTURE SOLUTIONS, INC. 3,531.00 APA23002361 YUNEX, LLC 36,856.52
APA23002362 ZYNERGY BRANDS CORPORATION 25,603.33
DFT230244 CALPERS 90,554.50
DFT230245 INTERNAL REVENUE SERVICE 106,365.13
DFT230246 FRANCHISE TAX BOARD 19,753.89
DFT230247 STATE DISBURSEMENT UNIT 438.46
DFT230248 STATE DISBURSEMENT UNIT 167.88
DFT230249 EMPLOYMENT DEVELOPMENT DEPARTMENT 150.00
DFT230250 INTERNAL REVENUE SERVICE 198.50
DFT230251 PAYCHEX OF NEW YORK, LLC 2,660.20
DFT230252 LEGAL SHIELD 104.65
DFT230253 TASC 3,891.77
DFT230254 NATIONWIDE TRUST COMPANY, FSB 1,089.62
DFT230255 LIUNA NATIONAL (INDUSTRIAL) PENSION FUND 807.73 PR01192023 NET PAYROLL 296,188.79
5414 AK SECURITY ALARM LLC 27,792.58
143218 JOHNATHAN SKINNER 193.29
GRAND TOTAL 1,431,972.81$
Attachment 2 3 OF 3

Page 1 of 1 ends

Recommendation
Receive and File.

Discussion
The Warrant Report lists all general checks issued since the prior Warrant Report.

Attachments
Attachment 1 - Warrant Summary
Attachment 2 - Warrant Listing
JAN 20, 2023 TO JAN 26, 2023 CITY OF LAKE ELSINORE WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
100 GENERAL 2,308,832.61$
103 THE ANCHOR 3,536.94
110 GAS TAX 4,103.37
130 LIGHTING, LANDSCAPE, MAINTENANCE DIST - CITYWIDE 9,189.62 135 LIGHTING, LANDSCAPE, MAINTENANCE DIST - NO. 1 345.55 180 LAUNCH POINTE 43,829.14
300 INSURANCE SERVICE 298.63
305 INFORMATION SYSTEMS SERVICE 16,034.26
310 SUPPORT SERVICE 475.24
315 FLEET SERVICE 11,079.02
320 FACILITIES SERVICE 11,951.91
330 CFD 2015-2S MAINTENANCE SERVICES 5,000.00
363 CFD 2022-3 LAKESIDE IMPROVEMENT 10,000.00
500 CAPITAL IMPROVEMENT PLAN 360,890.00
510 SARDA AREA I, II, & III 80,973.25
540 SARDA DIAMOND STADIUM 3,200.00
608 TRUST DEPOSITS 6,000.00
620 COST RECOVERY TRUST DEPOSITS 5,845.87
631 DESTRATIFICATION EQUIPMENT REPLACEMENT 82.72
655 CFD 2015-1S LAW, FIRE, PARAMEDIC SERVICES 5,000.00
GRAND TOTAL 2,886,668.13$
Attachment 1 1 of 1
JAN 20, 2023 to JAN 26, 2023 CITY OF LAKE ELSINORE WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA23002363 AMERICAN MATERIAL COMPANY 66.72$
APA23002364 ANDERSON CHEVROLET 76.11
APA23002365 ARDURRA GROUP, INC. 18,708.35
APA23002366 AUTOMATED GATE SERVICES, INC 502.00
APA23002367 AZTECA CLEANING SERVICES LLC 9,992.08
APA23002368 BROTHERS TOWING 496.00
APA23002369 BUSHONG, BLAKE 1,000.00
APA23002370 CALIFORNIA STATE FIRE PROTECTION 1,953.33
APA23002371 CALIFORNIA, DEPARTMENT OF JUSTICE 128.00
APA23002372 CED LAGUNA 78.30
APA23002373 CINTAS CORPORATION NO. 2 202.98
APA23002374 CLEARGOV, INC. 12,500.00
APA23002375 CM WASH EQUIPMENT 903.99
APA23002376 COTTER CONSTRUCTION, INC. 13,000.00
APA23002377 CR&R, INC. 5,207.44
APA23002378 DELONE, MARIA JAZMINE 2,962.50
APA23002379 DISCOUNT HAULING & CLEANUP SERVICE 3,850.00 APA23002380 DMC ENTERPRISES 50,626.09
APA23002381 ENDRESEN DEVELOPMENT, INC. 20,056.24
APA23002382 EVMWD 31,835.99
APA23002383 EXCEL LANDSCAPE, INC. 1,216.77
APA23002384 FIX AUTO LAKE ELSINORE 5,226.10
APA23002385 FORENSIC NURSES OF SOCAL, INC. 800.00
APA23002386 FRONTIER CALIFORNIA - INTERNET 796.65
APA23002387 FRONTIER CALIFORNIA, INC. 59.81
APA23002388 GLADWELL GOVERNMENTAL SERVICES, INC 350.00
APA23002389 GREAT AMERICA FINANCIAL SERVICES 475.24
APA23002390 HANCOCK, LORENA 4,072.50
APA23002391 HAZZARD BACKFLOW, INC. 2,415.00
APA23002392 HDL COREN & CONE 5,036.25
APA23002393 HEMET FENCE CORP 9,300.00
APA23002394 HI-WAY SAFETY, INC. 9,593.06
APA23002395 IMPACT PROMOTIONAL PRODUCTS 218.59
APA23002396 INLAND URGENT CARE,MEDICAL CORP 520.00
APA23002397 JAMES CLARK TRUCKING INC. 5,000.00
APA23002398 JOLLY JUMPS 5,995.00
APA23002399 KPA SERVICES, LLC 2,754.00
APA23002400 LAKE AUTO & SMOG 168.31
APA23002401 LAKE ELSINORE HISTORICAL DOWNTOWN MERCHANTS ASSOCIATION 643.26 APA23002402 LAKE ELSINORE STORM, LP 75,937.00
APA23002403 NPG, INC. 171,979.00
APA23002404 O'REILLY AUTO STORES INC/FIRST CALL 278.41
APA23002405 PACIFIC PRODUCTS & SERVICES, INC. 211.77
APA23002406 PLUMBERS DEPOT, INC. 2,284.84
Attachment 2 1 OF 2
JAN 20, 2023 to JAN 26, 2023 CITY OF LAKE ELSINORE WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA23002407 PRATS, MABEL A. 2,550.00
APA23002408 PRECISION CONCRETE CUTTING 24,140.50
APA23002409 PROSTAFF, LLC 18,900.00
APA23002410 PRUDENTIAL OVERALL SUPPLY 427.34
APA23002411 QUINN COMPANY 670.40
APA23002412 RIVERSIDE COUNTY SHERIFF'S, ACCOUNTING & FINANCE 1,199,302.83 APA23002413 RIVERSIDE COUNTY SHERIFF'S, ACCOUNTING & FINANCE 10,279.27 APA23002414 RIVERSIDE TRANSIT AGENCY 570.00
APA23002415 ROBBINS PEST MANAGEMENT, INC. 1,630.00
APA23002416 ROLYAN BUOYS 8,445.96
APA23002417 SECURITAS SECURITY SERVICES USA, INC. 3,166.43 APA23002418 SHRED-IT USA, LLC 84.00
APA23002419 SILVER & WRIGHT, LLP 14,247.62
APA23002420 SOMMER ENGINEERING, INC. 29,930.73
APA23002421 SOUTHERN CALIFORNIA EDISON CO. 7,428.61
APA23002422 SPICER CONSULTING GROUP 20,000.00
APA23002423 STAPLES ADVANTAGE 335.84
APA23002424 STAUFFER LAWN EQUIPMENT 1,716.87
APA23002425 STORYLAND STUDIOS DBA PLAINJOE STUDIOS 2,250.00 APA23002426 TARGET SPECIALTY PRODUCTS 3,130.04
APA23002427 THOMSON REUTERS - WEST PUBLISHING CORP. 461.60 APA23002428 UNITED CARPORTS, LLC 15,956.25
APA23002429 VALLEY-WIDE ELITE GYMNASTICS 301.50
APA23002430 VULCAN MATERIALS COMPANY 423.24
APA23002431 WEST COAST SERVICES 1,055.00
DFT230236 FRONTIER CALIFORNIA - INTERNET 663.71
DFT230239 PAYCHEX OF NEW YORK, LLC 550.00
DFT230242 FRONTIER CALIFORNIA - INTERNET 470.71
DFT230256 CALPERS 64,854.98
DFT230257 WILMINGTON TRUST, NATIONAL ASSOCIATION 958,522.50 DFT230257 WILMINGTON TRUST, NATIONAL ASSOCIATION 30.00
DFT230258 CALPERS 105.80
5415 AK SECURITY ALARM LLC 14,345.72
143219 LIEBERT CASSIDY WHITMORE 243.00
GRAND TOTAL 2,886,668.13$
Attachment 2 2 OF 2

Page 1 of 1 ends

Recommendation
Receive and File the Investment Report for December 2022.

Discussion
The Investment Report is a listing of all funds invested for the City as of the date shown on the report.

Fiscal Impact
No fiscal impact.

Attachments
Attachment 1- Investment Report for December 2022

CITY OF LAKE ELSINORE

INVESTMENT REPORT

BANK DEPOSITS OUTSTANDING BOOK

CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE
Bank Accounts:

General Checking Account 4,985,841 $ 43,254 $ (311,743) $ 4,717,353 $ Cash On Hand:

Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 2,000 Total Cash Accounts 4,985,841 43,254 (311,743) 4,719,653

INVESTMENTS
Local Agency Investment Funds 69,692,247 - - 69,692,247 CAMP Investments:

CAMP Pool Account 46,870 - - 46,870 U.S. Treasury Bond / Note 11,945,429 - - 11,945,429 Supra-National Agency Bond / Note 1,377,948 - - 1,377,948 Municipal Bond / Note 1,336,023 - - 1,336,023 Federal Agency Commercial Mortgage-Backed Security 262,383 - - 262,383 Federal Agency Bond / Note 5,161,605 - - 5,161,605 Corporate Note 8,643,030 - - 8,643,030 Certificate of Deposit 1,150,000 - - 1,150,000 Asset-Backed Security 2,245,750 - - 2,245,750 Sub-total Investments 101,861,285 - - 101,861,285 Market Value Adjustment:

Unrealized Gain/(Loss) at 09/30/2022 (3,763,096) - - (3,763,096) Total Investments 98,098,189 - - 98,098,189 Total Pooled Cash and Investments 103,084,030 $ 43,254 $ (311,743) $ 102,817,841 $ TOTAL POOLED CASH AND INVESTMENTS 102,817,841$
I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 28, 2022. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures.

Jason P. Simpson January 10, 2023
City Manager Date

C I T Y O F L A K E E L S I N O R E

INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS
AS OF December 31, 2022

FUND NO FUND NAME AMOUNT
100 General 15,949,447 $
102 Measure Z 13,051,646
106 Affordable Housing In Lieu 606,199
107 Developer Agreement Revenue 59,032
108 American Rescue Plan 9,824,046
109 Road Maintenance and Rehabilitation (SB1) 906,399
110 State Gas Tax 837,594
112 Measure A 1,613,848
114 SB1186 CASP Education Program 49,372
116 City Hall-Public Works DIF 25,120
117 Community Center DIF 136,956
118 Lake Side Facility DIF 236,435
119 Animal Shelter DIF 14,608
135 Lighting & Landscape Maintenance - Dist. No. 1 552,183 140 Geothermal 11,492
160 PEG Grant 71,851
180 Launch Pointe 1,648,802
202 La Strada RBBD 23,438
203 E.L.S.P. - S.T.I.F. 3,305,121
205 Traffic Impact Fee 308,998
211 Storm Drain C.I.P. 3,014,151
221 Quimby Park C.I.P. 81,157
231 Library C.I.P. 1,293,758
232 City Fire Protection 535,188
300 Insurance Service 1,303,708
305 Information Systems Service 2,662,558
310 Support Service 12,407
315 Fleet Service 335,900
320 Facilities Service 2,055,730
337 CFD 2016-2 Canyon Hills 1,839
346 CFD 2014-1 Southshore 66,800
354 CFD 90-2 Tuscany Hills 8,221
361 CFD 2022-2 Lakeshore Improvement 13,266
363 CFD 2022-3 Lakeside 29,869
366 CFD 2005-6 City Center Townhomes 2,150
368 CFD 2006-2 Viscaya 8,393
377 CFD 2006-6 Tessara 3,757
378 CFD 2006-8 Running Deer Estates 5,281
388 CFD 2007-6 Holiday Inn Express 12
395 CFD 2018-1 Wasson Canyon II Improvement Area 2,176

C I T Y O F L A K E E L S I N O R E

POOLED CASH AND INVESTMENTS BY FUND
AS OF December 31, 2022

FUND NO FUND NAME AMOUNT

C I T Y O F L A K E E L S I N O R E

POOLED CASH AND INVESTMENTS BY FUND
AS OF December 31, 2022
500 Capital Improvement Plan 8,270,534
540 Successor To RDA Diamond Stadium 1,711,499
603 Endowment Trust - Carl Graves 56,961
604 Endowment Trust - Korn Memorial 33,022
605 Public Improvement Trust 1,642,865
606 Mobile Source Air Polution Reduction 230,024
608 Trust Deposit & Pre Paid Expense 1,527,809
617 Successor Agency Housing 22,296,713
620 Cost Recovery System 5,916,444
631 Lake Destratification Equipment Replacement 453,586 655 CFD 2015-1s Law, Fire, Paramedic Services 9,472
Total Pooled Cash & Investments 102,817,841$

MAXIMUM DIVERSIFICATION CURRENT

TYPES OF SECURITIES PERCENTAGE PERCENTAGE BALANCE
CAMP - Pooled Sweep Account Unlimited 0.05% 46,870 $
U.S. Treasury Bond / Note Unlimited 11.73% 11,945,429 $ Supra-National Agency Bond / Note 30% 1.35% 1,377,948 $ Municipal Bond / Note Unlimited 1.31% 1,336,023 $
Federal Agency Collaterized Mortgage Obligation 40% 0.26% 262,383 $ Federal Agency Bond / Note Unlimited 5.07% (1) 5,161,605$ Corporate Note 30% 8.49% 8,643,030 $
Negotiable Certificates of Deposit 30% 1.13% 1,150,000 $ Asset-Backed Security / Collaterized Mortgage 20% 2.20% 2,245,750 $ LAIF (Local Agency Investment Funds) $150 Million 68.42% (2) 69,692,247$ TOTAL 100.00% 101,861 ,285$
Note:
(1) No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies. (2) Investment in LAIF may not exceed $75 million in each agency.

C I T Y O F L A K E E L S I N O R E

SUMMARY OF POLICY LIMITATIONS
FOR THE MONTH ENDING December 31, 2022

Local Agency Investment Fund

December 2.173
November 2.007
October 1.772
PMIA Quarter to Date(1): 1.98
287PMIA Average Life(1):

2.07LAIF Apportionment Rate(2):

0.00005680946709337

0.981389258
LAIF Earnings Ratio(2):

LAIF Fair Value Factor(1):

PMIA Daily(1): 2.29
Treasuries

66.67%
Agencies

20.08%
Certificates of
Deposit/Bank Notes

6.26%
Time
Deposits

2.58%
Commercial
Paper

3.95%
Corporate
Bonds

0.27%
Loans

0.19%
Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a).

Source:
(1) State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
as of 01/18/23
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 12/31/22
Chart does not include $3,466,000.00 in mortgages, which equates to 0.002%. Percentages may not total 100% due to rounding.

Pooled Money Investment Account
Monthly Portfolio Composition (1)
12/31/22
$199.6 billion

Yield Purchase Date Maturity Rate

2.173% Daily 24-Hour
Investment Beginning Balance Net Increase/(Decrease) Ending Balance Total Investments Held with
Local Agency Investment Fund: 69,692,247$ - $ 69,692,247$ Note:

Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained.

C I T Y O F L A K E E L S I N O R E

LOCAL AGENCY INVESTMENT FUND

TRANSACTION SUMMARY
FOR THE MONTH ENDING December 31, 2022
CAMP
Investment Portfolio

For the Month Ending December 31, 2022Account Statement - Transaction Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
53,691.54
1,952,495.36
(1,959,316.49)

0.00 $46,870.41
CAMP Pool
Unsettled Trades 0.00
135.41 Cash Dividends and Income
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
30,223,493.13
1,954,066.41
(1,913,913.42)
(26,774.97)
$30,236,871.15
CAMP Managed Account
Unsettled Trades 0.00
(175,260.85)Cash Dividends and Income
December 31, 2022 November 30, 2022
Asset Summary
CAMP Pool 46,870.41 53,691.54
CAMP Managed Account 30,236,871.15 30,223,493.13
$30,283,741.56 $30,277,184.67 Total
Asset Allocation

0.16%
CAMP Pool

99.84%
CAMP Managed
Account

Page 1 ends

For the Month Ending December 31, 2022Managed Account Summary Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dividend
Closing Market Value
Redemptions
Purchases
Opening Market Value
Closing Market Value
Change in Current Value
Unsettled Trades
Principal Acquisitions
Principal Dispositions
Maturities/Calls
Opening Market Value
Closing Market Value
Opening Market Value
Account Total
Total Cash Basis Earnings
Plus Net Realized Gains/Losses
Less Purchased Interest Related to Interest/Coupons
Interest/Dividends/Coupons Received
Earnings Reconciliation (Cash Basis) - Managed Account
Dividends
Less Beginning Accrued Interest
Less Beginning Amortized Value of Securities
Less Cost of New Purchases
Plus Coupons/Dividends Received
Plus Proceeds of Maturities/Calls/Principal Payments
Plus Proceeds from Sales
Ending Accrued Interest
Ending Amortized Value of Securities
Earnings Reconciliation (Accrual Basis)
Reconciling Transactions
Net Cash Contribution
Security Purchases
Principal Payments
Coupon/Interest/Dividend Income
Sale Proceeds
Maturities/Calls
Cash Transactions Summary- Managed Account
$53,691.54
1,952,495.36
(1,959,316.49)
$46,870.41
135.41
$30,223,493.13
(13,991.54)
(1,899,921.88)
1,954,066.41

0.00 (26,774.97)
$30,236,871.15
$30,277,184.67
$30,283,741.56
57,993.41
(2,552.49)
(230,701.77)
($175,260.85)

0.00 1,915,139.27
42,776.02
13,991.54
(1,956,618.90)
(15,287.93)

0.00 Managed Account Total
32,062,111.53 32,108,981.94
94,648.66
1,915,139.27
13,991.54
42,776.02
(1,956,618.90)
(32,174,266.31)
(111,146.54)

0.00 94,648.66
3,874,455.76
13,991.54
42,776.02
(3,909,114.26)
(32,227,957.85)
(111,146.54)
135.41
Total Accrual Basis Earnings ($113,364.73) ($113,229.32) Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance
$0.00 Closing Cash Balance

Page 2 ends

For the Month Ending December 31, 2022
Portfolio Summary and Statistics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Account Summary
Percent Par Value Market ValueDescription
U.S. Treasury Bond / Note 12,500,000.00 11,310,835.89 37.36 Supra-National Agency Bond / Note 1,380,000.00 1,314,057.31 4.34 Municipal Bond / Note 1,335,000.00 1,223,749.45 4.04 Federal Agency Commercial
Mortgage-Backed Security
250,000.00 242,197.79 0.80
Federal Agency Bond / Note 5,175,000.00 4,811,476.71 15.89 Corporate Note 8,490,000.00 8,014,498.03 26.46
Certificate of Deposit 1,150,000.00 1,142,400.16 3.77 Asset-Backed Security 2,246,036.06 2,177,655.81 7.19 Managed Account Sub-Total 32,526,036.06 30,236,871.15 99.85% Accrued Interest 94,648.66
Total Portfolio 32,526,036.06 30,331,519.81
CAMP Pool 46,870.41 46,870.41 0.15
Total Investments 32,572,906.47 30,378,390.22 100.00%
Unsettled Trades 0.00 0.00
Sector Allocation

7.19%
ABS

3.77%
Cert of Deposit

26.46%
Corporate Note

15.89%
Fed Agy Bond /
Note

0.80%
Federal Agency
Commercial
Mortgage-Backed
Security

0.15%
Joint Powers
Authority

4.04%
Muni Bond / Note

4.34%
Supra-National
Agency Bond / Note

37.36%
US TSY Bond / Note
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years

1.78%

8.59%

14.05%

34.35% 34.73%

6.50%

0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 965

1.80%

4.44%

Page 3 ends

For the Month Ending December 31, 2022
Managed Account Issuer Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Credit Quality (S&P Ratings)

5.78%
A

1.96%
A+

8.61%
A-

0.82%
A-2

6.07%
AA

57.11%
AA+

3.76%
AA-

11.24%
AAA

0.15%
AAAm

3.52%
BBB+

0.98%
NR
Issuer Summary
Percentof HoldingsIssuer
Market Value
220,834.35 0.73 ABBOTT LABORATORIES
433,778.55 1.43 AMAZON.COM INC
75,531.84 0.25 AMERICAN EXPRESS CO
385,007.20 1.27 AMERICAN HONDA FINANCE
506,607.20 1.67 APPLE INC
426,795.53 1.41 BANK OF AMERICA CO
437,687.33 1.45 BERKSHIRE HATHAWAY INC
218,882.23 0.72 BMW FINANCIAL SERVICES NA LLC
75,883.75 0.25 CALIFORNIA STATE UNIVERSITY
46,870.41 0.15 CAMP Pool
246,603.28 0.81 CAPITAL ONE FINANCIAL CORP
305,946.06 1.01 CARMAX AUTO OWNER TRUST
203,013.23 0.67 CATERPILLAR INC
96,103.00 0.32 CHAFFEY JOINT UNION HIGH SCHOOL DISTRICT 99,939.63 0.33 CHARLES SCHWAB
62,936.19 0.21 CINTAS CORPORATION NO. 2
217,288.13 0.72 CITIGROUP INC
247,586.50 0.82 CREDIT SUISSE GROUP RK
93,246.70 0.31 DEERE & COMPANY
181,501.07 0.60 DISCOVER FINANCIAL SERVICES
1,532,483.68 5.06 FANNIE MAE
455,625.70 1.50 FEDERAL HOME LOAN BANKS
283,333.80 0.94 FLORIDA STATE BOARD OF ADMIN FIN CORP 3,065,565.12 10.12 FREDDIE MAC
218,907.45 0.72 GENERAL DYNAMICS CORP
355,397.25 1.17 GM FINANCIAL CONSUMER AUTOMOBILE TRUST 117,211.43 0.39 GM FINANCIAL LEASINGTRUST
393,045.20 1.30 GOLDMAN SACHS GROUP INC
23,919.15 0.08 HOME DEPOT INC
94,904.49 0.31 HONDA AUTO RECEIVABLES
143,164.43 0.47 HYUNDAI AUTO RECEIVABLES
221,339.03 0.73 IBM CORP

Page 4 ends

For the Month Ending December 31, 2022Managed Account Issuer Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Percentof HoldingsIssuer
Market Value
591,708.88 1.95 INTER-AMERICAN DEVELOPMENT BANK
722,348.43 2.39 INTL BANK OF RECONSTRUCTION AND DEV
458,482.89 1.51 JP MORGAN CHASE & CO
127,048.60 0.42 LOS ANGELES COMMUNITY COLLEGE DISTRICT 393,075.60 1.30 MORGAN STANLEY
242,137.00 0.80 NATIONAL AUSTRALIA BANK LTD
48,119.10 0.16 NATIONAL RURAL UTILITIES CO FINANCE CORP 298,424.75 0.99 NEW YORK ST URBAN DEVELOPMENT CORP
420,828.09 1.39 NISSAN AUTO RECEIVABLES
445,012.65 1.47 NORDEA BANK ABP
164,573.15 0.54 PACCAR FINANCIAL CORP
394,184.40 1.30 PNC FINANCIAL SERVICES GROUP
388,503.29 1.28 Roche Holding AG
118,095.90 0.39 SAN JUAN UNIFIED SCHOOL DISTRICT
57,692.40 0.19 STATE OF CONNECTICUT
90,408.00 0.30 STATE OF MINNESOTA
36,282.12 0.12 TARGET CORP
624,492.22 2.06 THE BANK OF NEW YORK MELLON CORPORATION 381,259.20 1.26 THE WALT DISNEY CORPORATION
449,801.01 1.49 TORONTO-DOMINION BANK
538,566.43 1.78 TOYOTA MOTOR CORP
11,310,835.89 37.35 UNITED STATES TREASURY
201,442.95 0.67 UNITEDHEALTH GROUP INC
76,759.25 0.25 UNIVERSITY OF CALIFORNIA
216,720.45 0.72 USAA CAPITAL CORP
$30,283,741.56 Total 100.00%

Page 5 ends

For the Month Ending December 31, 2022Managed Account Detail of Securities Held

US TREASURY NOTES
DTD 06/30/2017 2.000% 06/30/2024
72,093.75 75,368.61 4.14 76,104.49 01/07/2001/02/20AaaAA+ 75,000.00 912828XX3 1.66

US TREASURY NOTES
DTD 06/30/2017 2.000% 06/30/2024
312,406.25 328,001.55 17.95 333,823.24 02/07/2002/03/20AaaAA+ 325,000.00 912828XX3 1.36

US TREASURY NOTES
DTD 06/30/2017 2.000% 06/30/2024
480,625.00 508,432.52 27.62 524,355.47 03/06/2003/02/20AaaAA+ 500,000.00 912828XX3 0.85

US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
474,531.25 515,633.02 24.17 534,414.06 08/07/2008/05/20AaaAA+ 500,000.00 912828YY0 0.18

US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025
226,406.25 247,147.60 1.72 245,156.25 04/05/2104/01/21AaaAA+ 250,000.00 912828ZW3 0.72

US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025
407,531.25 446,338.86 3.11 443,654.30 03/04/2103/01/21AaaAA+ 450,000.00 912828ZW3 0.58

US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
133,968.75 148,029.76 1.55 147,052.73 07/07/2107/01/21AaaAA+ 150,000.00 91282CBC4 0.82

US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
312,593.75 346,625.31 3.63 344,859.38 06/07/2106/02/21AaaAA+ 350,000.00 91282CBC4 0.70

US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
357,250.00 391,134.44 4.14 387,968.75 12/06/2112/02/21AaaAA+ 400,000.00 91282CBC4 1.13

US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
401,906.25 447,392.12 4.66 446,167.97 08/05/2108/03/21AaaAA+ 450,000.00 91282CBC4 0.57

US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
580,531.25 637,197.55 6.73 632,251.95 11/04/2111/02/21AaaAA+ 650,000.00 91282CBC4 1.05

US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
736,828.13 817,521.43 8.54 814,236.33 09/07/2109/01/21AaaAA+ 825,000.00 91282CBC4 0.68

US TREASURY N/B NOTES
DTD 04/30/2021 0.750% 04/30/2026
67,031.25 72,198.23 96.34 71,458.01 02/14/2202/10/22AaaAA+ 75,000.00 91282CBW0 1.92

US TREASURY N/B NOTES
DTD 04/30/2021 0.750% 04/30/2026
849,062.50 932,136.61 1,220.30 926,843.75 01/06/2201/04/22AaaAA+ 950,000.00 91282CBW0 1.33

Page 6 ends

For the Month Ending December 31, 2022Managed Account Detail of Securities Held

US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
176,656.24 180,732.59 523.10 179,007.81 09/06/2209/01/22AaaAA+ 200,000.00 91282CCP4 3.53

US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
220,820.30 229,947.51 653.87 226,250.00 05/05/2205/03/22AaaAA+ 250,000.00 91282CCP4 3.03

US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
662,460.90 696,597.57 1,961.62 690,468.75 08/04/2208/01/22AaaAA+ 750,000.00 91282CCP4 2.74

US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
706,624.96 740,413.26 2,092.39 732,343.75 07/08/2207/05/22AaaAA+ 800,000.00 91282CCP4 2.84

US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
794,953.08 830,197.20 2,353.94 819,035.16 06/06/2206/02/22AaaAA+ 900,000.00 91282CCP4 2.94

US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
794,953.08 827,294.74 2,353.94 819,562.50 08/15/2208/08/22AaaAA+ 900,000.00 91282CCP4 3.04

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
277,265.64 274,806.82 779.01 273,773.44 11/04/2211/01/22AaaAA+ 300,000.00 912828U24 4.39

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
323,476.58 324,077.50 908.84 322,574.22 10/11/2210/05/22AaaAA+ 350,000.00 912828U24 4.10

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
1,940,859.48 1,956,601.74 5,453.04 1,954,066.41 12/07/2212/05/22AaaAA+ 2,100,000.00 912828U24 3.92 18,504.35 11,310,835.89 11,973,826.54 2.19 11,945,428.72 12,500,000.00 Security Type Sub-Total Supra-National Agency Bond / Note

INTL BK OF RECON AND DEV NOTE
DTD 04/20/2021 0.125% 04/20/2023
241,842.93 244,924.27 60.40 244,492.85 04/20/2104/13/21AaaAAA 245,000.00 459058JV6 0.23

INTL BK RECON & DEVELOP NOTES
DTD 11/24/2020 0.250% 11/24/2023
480,505.50 499,678.97 128.47 498,925.00 11/24/2011/17/20AaaAAA 500,000.00 459058JM6 0.32

INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
591,708.88 634,729.46 864.31 634,530.10 09/23/2109/15/21AaaAAA 635,000.00 4581X0DZ8 0.52 1,053.18 1,314,057.31 1,379,332.70 0.40 1,377,947.95 1,380,000.00 Security Type Sub-Total

Page 7 ends

For the Month Ending December 31, 2022Managed Account Detail of Securities Held

CT ST TXBL GO BONDS
DTD 06/11/2020 1.998% 07/01/2024
57,692.40 60,000.00 599.40 60,000.00 06/11/2005/29/20Aa3AA- 60,000.00 20772KJW0 2.00

CHAFFEY UHSD, CA TXBL GO BONDS
DTD 12/05/2019 2.101% 08/01/2024
96,103.00 100,000.00 875.42 100,000.00 12/05/1911/06/19Aa1AA- 100,000.00 157411TK5 2.10

NY ST URBAN DEV CORP TXBL REV BONDS
DTD 12/23/2020 0.870% 03/15/2025
298,424.75 325,000.00 832.54 325,000.00 12/23/2012/16/20NRAA+ 325,000.00 650036DT0 0.87

UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
76,759.25 85,000.00 95.90 85,000.00 07/16/2007/10/20Aa2AA 85,000.00 91412HGE7 0.88

FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
59,408.70 65,239.63 408.85 65,459.55 09/16/2009/03/20Aa3AA 65,000.00 341271AD6 1.11

FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
77,688.30 85,293.86 534.65 85,563.55 09/16/2009/03/20Aa3AA 85,000.00 341271AD6 1.12

FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
146,236.80 160,000.00 1,006.40 160,000.00 09/16/2009/03/20Aa3AA 160,000.00 341271AD6 1.26

MN ST TXBL GO BONDS
DTD 08/25/2020 0.630% 08/01/2025
90,408.00 100,000.00 262.50 100,000.00 08/25/2008/11/20AaaAAA 100,000.00 60412AVJ9 0.63

SAN JUAN USD, CA TXBL GO BONDS
DTD 10/29/2020 0.852% 08/01/2025
118,095.90 130,000.00 461.50 130,000.00 10/29/2010/16/20Aa2NR 130,000.00 798306WP7 0.85

LOS ANGELES CCD, CA TXBL GO BONDS
DTD 11/10/2020 0.773% 08/01/2025
127,048.60 140,000.00 450.92 140,000.00 11/10/2010/30/20AaaAA+ 140,000.00 54438CYK2 0.77

CA ST UNIV TXBL REV BONDS
DTD 07/29/2021 0.862% 11/01/2025
75,883.75 85,000.00 122.12 85,000.00 07/29/2107/09/21Aa2AA- 85,000.00 13077DQD7 0.86 5,650.20 1,223,749.45 1,335,533.49 1.06 1,336,023.10 1,335,000.00 Security Type Sub-Total Federal Agency Commercial Mortgage-Backed Security
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
242,197.79 255,063.06 637.92 262,382.81 03/25/2003/19/20AaaAA+ 250,000.00 3137BGK24 1.95 637.92 242,197.79 255,063.06 1.95 262,382.81 250,000.00 Security Type Sub-Total

Page 8 ends

For the Month Ending December 31, 2022Managed Account Detail of Securities Held

FREDDIE MAC NOTES
DTD 09/04/2020 0.250% 09/08/2023
363,484.50 375,015.58 294.27 375,068.48 09/04/2009/02/20AaaAA+ 375,000.00 3137EAEW5 0.24

FREDDIE MAC NOTES
DTD 09/04/2020 0.250% 09/08/2023
508,878.30 524,960.59 411.98 524,826.75 09/04/2009/02/20AaaAA+ 525,000.00 3137EAEW5 0.26

FREDDIE MAC NOTES
DTD 10/16/2020 0.125% 10/16/2023
313,120.28 324,681.16 84.64 323,787.75 10/16/2010/14/20AaaAA+ 325,000.00 3137EAEY1 0.25

FREDDIE MAC NOTES
DTD 11/05/2020 0.250% 11/06/2023
336,648.90 349,911.19 133.68 349,685.00 11/05/2011/03/20AaaAA+ 350,000.00 3137EAEZ8 0.28

FANNIE MAE NOTES
DTD 11/25/2020 0.250% 11/27/2023
311,735.13 324,888.55 76.74 324,629.50 11/25/2011/23/20AaaAA+ 325,000.00 3135G06H1 0.29

FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
287,497.20 299,908.59 56.25 299,703.00 12/04/2012/02/20AaaAA+ 300,000.00 3137EAFA2 0.28

FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
320,420.80 349,206.24 374.31 348,264.00 04/16/2004/15/20AaaAA+ 350,000.00 3130AJHU6 0.60

FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
321,094.20 349,667.17 419.27 349,279.00 04/24/2004/22/20AaaAA+ 350,000.00 3135G03U5 0.67

FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
384,569.75 423,918.54 708.33 422,883.50 07/23/2007/21/20AaaAA+ 425,000.00 3137EAEU9 0.48

FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
315,620.90 349,131.61 459.38 348,362.00 08/27/2008/25/20AaaAA+ 350,000.00 3135G05X7 0.47

FEDERAL HOME LOAN BANK NOTES
DTD 09/11/2020 0.375% 09/04/2025
135,204.90 149,758.30 182.81 149,550.00 09/11/2009/10/20AaaAA+ 150,000.00 3130AK5E2 0.44

FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
629,168.40 698,849.47 714.58 697,893.00 09/25/2009/23/20AaaAA+ 700,000.00 3137EAEX3 0.44

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
584,033.45 648,669.74 487.50 647,673.00 11/12/2011/09/20AaaAA+ 650,000.00 3135G06G3 0.57 4,403.74 4,811,476.71 5,168,566.73 0.41 5,161,604.98 5,175,000.00 Security Type Sub-Total

Page 9 ends

For the Month Ending December 31, 2022Managed Account Detail of Securities Held

PNC BANK NA CORP NOTES (CALLABLE)
DTD 01/23/2019 3.500% 01/23/2024
394,184.40 400,572.17 6,144.44 402,848.00 02/15/1902/12/19A3A- 400,000.00 693475AV7 3.34

CHARLES SCHWAB CORP NOTES
(CALLABLE)
DTD 03/18/2021 0.750% 03/18/2024
99,939.63 104,978.83 225.31 104,947.50 03/18/2103/16/21A2A 105,000.00 808513BN4 0.77

BANK OF NY MELLON CORP NOTES
(CALLABLE)
DTD 04/26/2021 0.500% 04/26/2024
198,052.89 209,901.39 189.58 209,775.30 04/26/2104/19/21A1A 210,000.00 06406RAS6 0.54

MORGAN STANLEY CORP NOTES
DTD 04/28/2014 3.875% 04/29/2024
393,075.60 406,367.02 2,669.44 422,916.00 07/23/1907/19/19A1A- 400,000.00 61746BDQ6 2.59

AMERICAN HONDA FINANCE CORP NOTE
DTD 06/27/2019 2.400% 06/27/2024
385,007.20 399,404.47 106.67 398,016.00 07/15/1907/11/19A3A- 400,000.00 02665WCZ2 2.51

GOLDMAN SACHS GROUP INC (CALLABLE)
BONDS
DTD 07/08/2014 3.850% 07/08/2024
393,045.20 404,977.85 7,400.56 418,632.00 07/11/1907/08/19A2BBB+ 400,000.00 38141EC23 2.84

BMW US CAPITAL LLC CORPORATE NOTES
DTD 08/12/2021 0.750% 08/12/2024
65,419.83 69,996.61 202.71 69,993.70 08/12/2108/09/21A2A 70,000.00 05565EBU8 0.75

WALT DISNEY COMPANY/THE (CALLABLE)
DTD 09/06/2019 1.750% 08/30/2024
381,259.20 399,455.70 2,352.78 398,368.00 09/06/1909/03/19A2BBB+ 400,000.00 254687FK7 1.84

JOHN DEERE CAPITAL CORP CORPORATE
NOTES
DTD 09/10/2021 0.625% 09/10/2024
93,246.70 99,963.35 192.71 99,935.00 09/10/2109/07/21A2A 100,000.00 24422EVU0 0.65

PACCAR FINANCIAL CORP CORPORATE
NOTES
DTD 02/06/2020 1.800% 02/06/2025
164,573.15 178,878.85 1,268.75 182,894.25 10/29/2010/22/20A1A+ 175,000.00 69371RQ66 0.73

AMERICAN EXPRESS CO CORP NOTES
(CALLABLE
DTD 03/04/2022 2.250% 03/04/2025
75,531.84 79,941.54 585.00 79,919.20 03/04/2203/01/22A2BBB+ 80,000.00 025816CQ0 2.29

Page 10 ends

For the Month Ending December 31, 2022Managed Account Detail of Securities Held

ROCHE HOLDINGS INC (CALLABLE)

CORPORATE
DTD 03/10/2022 2.132% 03/10/2025
388,503.29 410,000.00 2,695.20 410,000.00 03/10/2203/03/22Aa2AA 410,000.00 771196BT8 2.13

HOME DEPOT INC (CALLABLE) CORPORATE
NOTE
DTD 03/28/2022 2.700% 04/15/2025
23,919.15 24,967.21 142.50 24,956.25 03/28/2203/24/22A2A 25,000.00 437076CM2 2.76

CITIGROUP INC CORP NOTES
DTD 04/27/2015 3.300% 04/27/2025
217,288.13 237,332.97 1,320.00 249,738.75 09/01/2008/28/20A3BBB+ 225,000.00 172967JP7 0.88 CINTAS CORPORATION NO. 2 CORP NOTE
(CALL
DTD 05/03/2022 3.450% 05/01/2025
62,936.19 64,988.88 373.75 64,985.70 05/03/2204/26/22A3A- 65,000.00 17252MAP5 3.46

USAA CAPITAL CORP CORPORATE NOTES
DTD 05/26/2022 3.375% 05/01/2025
216,720.45 224,415.38 1,265.63 224,264.25 05/26/2205/23/22Aa1AA 225,000.00 90327QD89 3.49

APPLE INC (CALLABLE) CORP NOTES
DTD 05/11/2020 1.125% 05/11/2025
506,607.20 550,512.08 859.38 551,105.50 05/13/2005/11/20AaaAA+ 550,000.00 037833DT4 1.08

GENERAL DYNAMICS CORP (CALLABLE)

CORP NO
DTD 05/11/2018 3.500% 05/15/2025
218,907.45 238,632.23 1,006.25 252,247.50 10/20/2010/16/20A3A- 225,000.00 369550BG2 0.80

JPMORGAN CHASE & CO (CALLABLE) CORP
NOTE
DTD 06/01/2021 0.824% 06/01/2025
293,765.54 315,000.00 216.30 315,000.00 06/01/2105/24/21A1A- 315,000.00 46647PCH7 0.82

AMAZON INC CORP NOTES (CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025
433,778.55 474,887.20 295.56 474,767.25 06/05/2006/03/20A1AA 475,000.00 023135BQ8 0.81

NATIONAL AUSTRALIA BK/NY CORPORATE
NOTES
DTD 06/09/2022 3.500% 06/09/2025
242,137.00 250,000.00 534.72 250,000.00 06/09/2205/31/22Aa3AA- 250,000.00 63254ABD9 3.50

NATIONAL RURAL UTIL COOP CORPORATE
NOTES
DTD 05/04/2022 3.450% 06/15/2025
48,119.10 49,989.37 76.67 49,986.50 05/04/2204/27/22A2A- 50,000.00 63743HFE7 3.46

Page 11 ends

For the Month Ending December 31, 2022Managed Account Detail of Securities Held

TOYOTA MOTOR CREDIT CORP CORPORATE
NOTES
DTD 06/30/2022 3.950% 06/30/2025
98,126.20 99,921.04 10.97 99,905.00 06/30/2206/27/22A1A+ 100,000.00 89236TKC8 3.98

IBM CORP CORPORATE NOTES
DTD 07/27/2022 4.000% 07/27/2025
221,339.03 225,000.00 3,850.00 225,000.00 07/27/2207/20/22A3A- 225,000.00 459200KS9 4.00

BANK OF AMERICA CORP NOTES
DTD 07/30/2015 3.875% 08/01/2025
219,069.68 241,656.97 3,632.81 256,918.50 08/20/2008/18/20A2A- 225,000.00 06051GFS3 0.93

ABBOTT LABORATORIES CORPORATE

NOTES (CAL
DTD 03/22/2017 3.875% 09/15/2025
220,834.35 242,100.27 2,567.19 257,845.50 09/28/2009/24/20A1AA- 225,000.00 002824BM1 0.86

BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025
207,725.85 225,000.00 239.06 225,000.00 12/06/2112/01/21A2A- 225,000.00 06051GKE8 1.53

JPMORGAN CHASE & CO CORP NOTES
(CALLABLE
DTD 02/24/2022 2.595% 02/24/2026
164,717.35 175,000.00 1,602.05 175,000.00 02/24/2202/16/22A1A- 175,000.00 46647PCV6 2.60

UNITEDHEALTH GROUP INC (CALLABLE)
CORPOR
DTD 05/19/2021 1.150% 05/15/2026
201,442.95 224,735.71 330.63 224,608.50 05/19/2105/17/21A3A+ 225,000.00 91324PEC2 1.19

TOYOTA MOTOR CREDIT CORP CORPORATE
NOTES
DTD 06/18/2021 1.125% 06/18/2026
128,340.52 144,766.03 58.91 144,678.10 09/13/2109/08/21A1A+ 145,000.00 89236TJK2 1.17

BMW US CAPITAL LLC (CALLABLE)

CORPORATE
DTD 08/12/2021 1.250% 08/12/2026
153,462.40 174,961.99 844.62 174,947.50 08/16/2108/12/21A2A 175,000.00 05565EBW4 1.26

CATERPILLAR FINL SERVICE CORPORATE
NOTES
DTD 01/10/2022 1.700% 01/08/2027
203,013.23 224,084.01 1,838.13 223,863.75 01/13/2201/11/22A2A 225,000.00 14913R2U0 1.81

TARGET CORP CORP NOTES (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
36,282.12 39,944.80 359.67 39,932.00 01/24/2201/19/22A2A 40,000.00 87612EBM7 1.99

Page 12 ends

For the Month Ending December 31, 2022Managed Account Detail of Securities Held

BANK OF NY MELLON CORP (CALLABLE)
CORPOR
DTD 01/26/2022 2.050% 01/26/2027
426,439.33 474,140.91 4,192.53 473,945.50 01/28/2201/26/22A1A 475,000.00 06406RBA4 2.10

BERKSHIRE HATHAWAY CORP NOTES
(CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027
437,687.33 467,505.77 3,216.81 466,089.00 03/17/2203/15/22Aa2AA 475,000.00 084664CZ2 2.70 52,867.29 8,014,498.03 8,553,980.60 1.95 8,643,030.00 8,490,000.00 Security Type Sub-Total Certificate of Deposit

CREDIT SUISSE NEW YORK CERT DEPOS
DTD 03/23/2021 0.590% 03/17/2023
247,586.50 250,000.00 1,188.19 250,000.00 03/23/2103/19/21P-2A-2 250,000.00 22552G3C2 0.59

TORONTO DOMINION BANK NY CERT
DEPOS
DTD 10/31/2022 5.600% 10/27/2025
449,801.01 450,000.00 4,340.00 450,000.00 10/31/2210/27/22A1A 450,000.00 89115B6K1 5.58

NORDEA BANK ABP NEW YORK CERT DEPOS
DTD 11/03/2022 5.530% 11/03/2025
445,012.65 450,000.00 4,009.25 450,000.00 11/03/2211/02/22Aa3AA- 450,000.00 65558UYF3 5.53 9,537.44 1,142,400.16 1,150,000.00 4.48 1,150,000.00 1,150,000.00 Security Type Sub-Total Asset-Backed Security
GMALT 2021-1 A4
DTD 02/24/2021 0.330% 02/20/2025
83,505.39 84,993.12 8.57 84,987.17 02/24/2102/17/21AaaNR 85,000.00 36261RAD0 0.33 GMALT 2021-2 A4
DTD 05/26/2021 0.410% 05/20/2025
33,706.04 34,998.24 4.38 34,997.05 05/26/2105/18/21NRAAA 35,000.00 380144AD7 0.41 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
67,778.93 70,075.36 11.84 70,072.54 04/28/2104/20/21NRAAA 70,079.91 44933LAC7 0.38 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
282,533.15 294,996.77 43.27 294,995.01 06/23/2106/15/21AaaAAA 295,000.00 65480BAC1 0.33 TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
312,099.71 324,977.25 37.56 324,965.00 06/14/2106/08/21NRAAA 325,000.00 89190GAC1 0.26

Page 13 ends

For the Month Ending December 31, 2022Managed Account Detail of Securities Held

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par
Asset-Backed Security
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
94,904.49 99,984.51 24.44 99,978.92 11/24/2111/16/21AaaNR 100,000.00 43815GAC3 0.89 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
101,985.03 105,941.35 24.49 105,933.32 04/21/2104/13/21NRAAA 105,956.15 14314QAC8 0.52 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
75,385.50 79,986.61 26.31 79,982.14 11/17/2111/09/21NRAAA 80,000.00 44935FAD6 0.75 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
181,501.07 194,968.86 50.27 194,958.25 09/27/2109/20/21AaaAAA 195,000.00 254683CP8 0.58 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
80,032.46 84,998.36 24.08 84,997.83 10/21/2110/13/21AaaAAA 85,000.00 362554AC1 0.68 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
203,961.03 209,995.51 370.53 209,995.04 07/20/2207/12/22NRAAA 210,000.00 14318MAD1 3.97 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
138,294.94 139,972.66 277.51 139,971.03 09/28/2209/20/22AaaAAA 140,000.00 65480JAC4 4.46 GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
275,364.79 274,956.99 552.29 274,954.93 10/12/2210/04/22NRAAA 275,000.00 36265QAD8 4.82 COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
246,603.28 244,962.82 539.00 244,961.56 11/03/2210/27/22NRAAA 245,000.00 14041NGB1 4.95 1,994.54 2,177,655.81 2,245,808.41 2.10 2,245,749.79 2,246,036.06 Security Type Sub-Total 32,526,036.06 32,122,167.35 1.80 94,648.66 32,062,111.53 30,236,871.15 Managed Account Sub-Total Joint Powers Authority
CAMP Pool 46,870.41 46,870.41 0.00 46,870.41 NRAAAm 46,870.41 46,870.41 46,870.41 0.00 46,870.41 46,870.41 Liquid Sub-Total

Page 14 ends

For the Month Ending December 31, 2022
Managed Account Detail of Securities Held

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
$32,572,906.47 $32,169,037.76 $94,648.66 $32,108,981.94 $30,283,741.56 1.80% $30,378,390.22
$94,648.66
Total Investments
Accrued Interest
Securities Sub-Total

Page 15 ends

For the Month Ending December 31, 2022Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
U.S. Treasury Bond / Note
(3,274.86)(4,010.74) 72,093.75 96.13 HSBC 75,000.00 912828XX3US TREASURY NOTES DTD 06/30/2017 2.000% 06/30/2024

4.71 1.47
(15,595.30)(21,416.99) 312,406.25 96.13 HSBC 325,000.00 912828XX3US TREASURY NOTES DTD 06/30/2017 2.000% 06/30/2024

4.71 1.47
(27,807.52)(43,730.47) 480,625.00 96.13 HSBC 500,000.00 912828XX3US TREASURY NOTES DTD 06/30/2017 2.000% 06/30/2024

4.71 1.47
(41,101.77)(59,882.81) 474,531.25 94.91 WELLS_F 500,000.00 912828YY0US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024

4.44 1.96
(20,741.35)(18,750.00) 226,406.25 90.56 GOLDMAN 250,000.00 912828ZW3US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025

4.27 2.49
(38,807.61)(36,123.05) 407,531.25 90.56 MERRILL 450,000.00 912828ZW3US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025

4.27 2.49
(14,061.01)(13,083.98) 133,968.75 89.31 CITIGRP 150,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025

4.20 2.98
(34,031.56)(32,265.63) 312,593.75 89.31 JPM_CHA 350,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025

4.20 2.98
(33,884.44)(30,718.75) 357,250.00 89.31 CITIGRP 400,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025

4.20 2.98
(45,485.87)(44,261.72) 401,906.25 89.31 JPM_CHA 450,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025

4.20 2.98
(56,666.30)(51,720.70) 580,531.25 89.31 BNP_PAR 650,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025

4.20 2.98
(80,693.30)(77,408.20) 736,828.13 89.31 CITIGRP 825,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025

4.20 2.98
(5,166.98)(4,426.76) 67,031.25 89.38 BMO 75,000.00 91282CBW0US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026

4.20 3.29
(83,074.11)(77,781.25) 849,062.50 89.38 CITIGRP 950,000.00 91282CBW0US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026

4.20 3.29
(4,076.35)(2,351.57) 176,656.24 88.33 BMO 200,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026

4.16 3.54
(9,127.21)(5,429.70) 220,820.30 88.33 HSBC 250,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026

4.16 3.54
(34,136.67)(28,007.85) 662,460.90 88.33 BMO 750,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026

4.16 3.54

Page 16 ends

For the Month Ending December 31, 2022Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
U.S. Treasury Bond / Note
(33,788.30)(25,718.79) 706,624.96 88.33 HSBC 800,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026

4.16 3.54
(35,244.12)(24,082.08) 794,953.08 88.33 MERRILL 900,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026

4.16 3.54
(32,341.66)(24,609.42) 794,953.08 88.33 BMO 900,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026

4.16 3.54
2,458.82 3,492.20 277,265.64 92.42 BMO 300,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026

4.14 3.73
(600.92) 902.36 323,476.58 92.42 BMO 350,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026

4.14 3.73
(15,742.26)(13,206.93) 1,940,859.48 92.42 HSBC 2,100,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026

4.14 3.73
(634,592.83) 4.23 (662,990.65) 11,310,835.89 12,500,000.00 Security Type Sub-Total 3.16 Supra-National Agency Bond / Note
(3,081.34)(2,649.92) 241,842.93 98.71 TD 245,000.00 459058JV6INTL BK OF RECON AND DEV NOTE DTD 04/20/2021 0.125% 04/20/2023

4.40 0.31
(19,173.47)(18,419.50) 480,505.50 96.10 TD 500,000.00 459058JM6INTL BK RECON & DEVELOP NOTES DTD 11/24/2020 0.250% 11/24/2023

4.73 0.90
(43,020.58)(42,821.22) 591,708.88 93.18 JPM_CHA 635,000.00 4581X0DZ8INTER-AMERICAN DEVEL BK NOTES DTD 09/23/2021 0.500% 09/23/2024

4.65 1.72
(63,890.64) 4.63 (65,275.39) 1,314,057.31 1,380,000.00 Security Type Sub-Total 1.16 Municipal Bond / Note
(2,307.60)(2,307.60) 57,692.40 96.15 SIEBERT 60,000.00 20772KJW0CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024

4.68 1.47
(3,897.00)(3,897.00) 96,103.00 96.10 RBC 100,000.00 157411TK5CHAFFEY UHSD, CA TXBL GO BONDS DTD 12/05/2019 2.101% 08/01/2024

4.68 1.55
(26,575.25)(26,575.25) 298,424.75 91.82 WELLS_F 325,000.00 650036DT0NY ST URBAN DEV CORP TXBL REV BONDS DTD 12/23/2020 0.870% 03/15/2025

4.82 2.19
(8,240.75)(8,240.75) 76,759.25 90.31 04/15/25JPM_CHA 85,000.00 91412HGE7UNIV OF CAL TXBL REV BONDS DTD 07/16/2020 0.883% 05/15/2025

5.28 2.27

Page 17 ends

For the Month Ending December 31, 2022Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Municipal Bond / Note
(5,830.93)(6,050.85) 59,408.70 91.40 MERRILL 65,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025

4.95 2.45
(7,605.56)(7,875.25) 77,688.30 91.40 MERRILL 85,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025

4.95 2.45
(13,763.20)(13,763.20) 146,236.80 91.40 MERRILL 160,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025

4.95 2.45
(9,592.00)(9,592.00) 90,408.00 90.41 MORGAN_ 100,000.00 60412AVJ9MN ST TXBL GO BONDS DTD 08/25/2020 0.630% 08/01/2025

4.61 2.56
(11,904.10)(11,904.10) 118,095.90 90.84 KEYBANC 130,000.00 798306WP7SAN JUAN USD, CA TXBL GO BONDS DTD 10/29/2020 0.852% 08/01/2025

4.65 2.55
(12,951.40)(12,951.40) 127,048.60 90.75 MERRILL 140,000.00 54438CYK2LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025

4.61 2.56
(9,116.25)(9,116.25) 75,883.75 89.28 JPM_CHA 85,000.00 13077DQD7CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025

4.96 2.80
(112,273.65) 4.82 (111,784.04) 1,223,749.45 1,335,000.00 Security Type Sub-Total 2.31 Federal Agency Commercial Mortgage-Backed Security
(12,865.27)(20,185.02) 242,197.79 96.88 CITIGRP 250,000.00 3137BGK24FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024

4.77 1.82
(20,185.02) 4.77 (12,865.27) 242,197.79 250,000.00 Security Type Sub-Total 1.82 Federal Agency Bond / Note
(11,531.08)(11,583.98) 363,484.50 96.93 NOMURA 375,000.00 3137EAEW5FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023

4.84 0.69
(16,082.29)(15,948.45) 508,878.30 96.93 WELLS_F 525,000.00 3137EAEW5FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023

4.84 0.69
(11,560.88)(10,667.47) 313,120.28 96.34 WELLS_F 325,000.00 3137EAEY1FREDDIE MAC NOTES DTD 10/16/2020 0.125% 10/16/2023

4.87 0.79
(13,262.29)(13,036.10) 336,648.90 96.19 CITIGRP 350,000.00 3137EAEZ8FREDDIE MAC NOTES DTD 11/05/2020 0.250% 11/06/2023

4.89 0.85
(13,153.42)(12,894.37) 311,735.13 95.92 NOMURA 325,000.00 3135G06H1FANNIE MAE NOTES DTD 11/25/2020 0.250% 11/27/2023

4.90 0.91

Page 18 ends

For the Month Ending December 31, 2022Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Federal Agency Bond / Note
(12,411.39)(12,205.80) 287,497.20 95.83 CITIGRP 300,000.00 3137EAFA2FREDDIE MAC NOTES DTD 12/04/2020 0.250% 12/04/2023

4.90 0.93
(28,785.44)(27,843.20) 320,420.80 91.55 CITIGRP 350,000.00 3130AJHU6FEDERAL HOME LOAN BANK NOTES DTD 04/16/2020 0.500% 04/14/2025

4.42 2.28
(28,572.97)(28,184.80) 321,094.20 91.74 CITIGRP 350,000.00 3135G03U5FANNIE MAE NOTES DTD 04/24/2020 0.625% 04/22/2025

4.42 2.29
(39,348.79)(38,313.75) 384,569.75 90.49 WELLS_F 425,000.00 3137EAEU9FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025

4.34 2.54
(33,510.71)(32,741.10) 315,620.90 90.18 BARCLAY 350,000.00 3135G05X7FANNIE MAE NOTES DTD 08/27/2020 0.375% 08/25/2025

4.33 2.64
(14,553.40)(14,345.10) 135,204.90 90.14 WELLS_F 150,000.00 3130AK5E2FEDERAL HOME LOAN BANK NOTES DTD 09/11/2020 0.375% 09/04/2025

4.31 2.66
(69,681.07)(68,724.60) 629,168.40 89.88 CITIGRP 700,000.00 3137EAEX3FREDDIE MAC NOTES DTD 09/25/2020 0.375% 09/23/2025

4.34 2.72
(64,636.29)(63,639.55) 584,033.45 89.85 BARCLAY 650,000.00 3135G06G3FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025

4.32 2.83
(350,128.27) 4.58 (357,090.02) 4,811,476.71 5,175,000.00 Security Type Sub-Total 1.80 Corporate Note
(6,387.77)(8,663.60) 394,184.40 98.55 12/23/23CITIGRP 400,000.00 693475AV7PNC BANK NA CORP NOTES (CALLABLE) DTD 01/23/2019 3.500% 01/23/2024

4.92 0.96
(5,039.20)(5,007.87) 99,939.63 95.18 02/18/24CSFB 105,000.00 808513BN4CHARLES SCHWAB CORP NOTES (CALLABLE)
DTD 03/18/2021 0.750% 03/18/2024

4.88 1.13
(11,848.50)(11,722.41) 198,052.89 94.31 03/26/24JPM_CHA 210,000.00 06406RAS6BANK OF NY MELLON CORP NOTES (CALLABLE)
DTD 04/26/2021 0.500% 04/26/2024

5.00 1.24
(13,291.42)(29,840.40) 393,075.60 98.27 WELLS_FA 400,000.00 61746BDQ6MORGAN STANLEY CORP NOTES DTD 04/28/2014 3.875% 04/29/2024

5.23 1.30
(14,397.27)(13,008.80) 385,007.20 96.25 WELLS_FA 400,000.00 02665WCZ2AMERICAN HONDA FINANCE CORP NOTE DTD 06/27/2019 2.400% 06/27/2024

5.04 1.47

Page 19 ends

For the Month Ending December 31, 2022Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Corporate Note
(11,932.65)(25,586.80) 393,045.20 98.26 04/08/24SUSQ 400,000.00 38141EC23GOLDMAN SACHS GROUP INC (CALLABLE) BONDS
DTD 07/08/2014 3.850% 07/08/2024

5.05 1.23
(4,576.78)(4,573.87) 65,419.83 93.46 GOLDMAN 70,000.00 05565EBU8BMW US CAPITAL LLC CORPORATE NOTES DTD 08/12/2021 0.750% 08/12/2024

5.01 1.61
(18,196.50)(17,108.80) 381,259.20 95.31 07/30/24JPM_CHAS 400,000.00 254687FK7WALT DISNEY COMPANY/THE (CALLABLE) DTD 09/06/2019 1.750% 08/30/2024

4.70 1.56
(6,716.65)(6,688.30) 93,246.70 93.25 HSBC 100,000.00 24422EVU0JOHN DEERE CAPITAL CORP CORPORATE NOTES
DTD 09/10/2021 0.625% 09/10/2024

4.82 1.68
(14,305.70)(18,321.10) 164,573.15 94.04 MERRILL 175,000.00 69371RQ66PACCAR FINANCIAL CORP CORPORATE NOTES
DTD 02/06/2020 1.800% 02/06/2025

4.82 2.05
(4,409.70)(4,387.36) 75,531.84 94.41 02/01/25BARCLAY 80,000.00 025816CQ0AMERICAN EXPRESS CO CORP NOTES (CALLABLE
DTD 03/04/2022 2.250% 03/04/2025

4.99 2.03
(21,496.71)(21,496.71) 388,503.29 94.76 02/10/25DEUTSCH 410,000.00 771196BT8ROCHE HOLDINGS INC (CALLABLE)

CORPORATE
DTD 03/10/2022 2.132% 03/10/2025

4.67 2.06
(1,048.06)(1,037.10) 23,919.15 95.68 03/15/25MORGAN_ 25,000.00 437076CM2HOME DEPOT INC (CALLABLE) CORPORATE NOTE
DTD 03/28/2022 2.700% 04/15/2025

4.71 2.15
(20,044.84)(32,450.62) 217,288.13 96.57 MKTX 225,000.00 172967JP7CITIGROUP INC CORP NOTES DTD 04/27/2015 3.300% 04/27/2025

4.88 2.24
(2,052.69)(2,049.51) 62,936.19 96.82 04/01/25KEYBANC 65,000.00 17252MAP5CINTAS CORPORATION NO. 2 CORP NOTE (CALL
DTD 05/03/2022 3.450% 05/01/2025

4.90 2.17
(7,694.93)(7,543.80) 216,720.45 96.32 MERRILL 225,000.00 90327QD89USAA CAPITAL CORP CORPORATE NOTES DTD 05/26/2022 3.375% 05/01/2025

5.06 2.25
(43,904.88)(44,498.30) 506,607.20 92.11 04/11/25GOLDMAN 550,000.00 037833DT4APPLE INC (CALLABLE) CORP NOTES DTD 05/11/2020 1.125% 05/11/2025

4.69 2.25
(19,724.78)(33,340.05) 218,907.45 97.29 03/15/25JPM_CHA 225,000.00 369550BG2GENERAL DYNAMICS CORP (CALLABLE)

CORP NO
DTD 05/11/2018 3.500% 05/15/2025

4.72 2.13

Page 20 ends

For the Month Ending December 31, 2022Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Corporate Note
(21,234.46)(21,234.46) 293,765.54 93.26 06/01/24JPM_CHA 315,000.00 46647PCH7JPMORGAN CHASE & CO (CALLABLE) CORP NOTE
DTD 06/01/2021 0.824% 06/01/2025

3.76 1.41
(41,108.65)(40,988.70) 433,778.55 91.32 05/03/25GOLDMAN 475,000.00 023135BQ8AMAZON INC CORP NOTES (CALLABLE) DTD 06/03/2020 0.800% 06/03/2025

4.62 2.32
(7,863.00)(7,863.00) 242,137.00 96.85 CITIGRP 250,000.00 63254ABD9NATIONAL AUSTRALIA BK/NY CORPORATE NOTES
DTD 06/09/2022 3.500% 06/09/2025

4.88 2.36
(1,870.27)(1,867.40) 48,119.10 96.24 RBC 50,000.00 63743HFE7NATIONAL RURAL UTIL COOP CORPORATE NOTES
DTD 05/04/2022 3.450% 06/15/2025

5.10 2.37
(1,794.84)(1,778.80) 98,126.20 98.13 MERRILL 100,000.00 89236TKC8TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 06/30/2022 3.950% 06/30/2025

4.75 2.40
(3,660.97)(3,660.97) 221,339.03 98.37 JPM_CHA 225,000.00 459200KS9IBM CORP CORPORATE NOTES DTD 07/27/2022 4.000% 07/27/2025

4.68 2.43
(22,587.29)(37,848.82) 219,069.68 97.36 MERRILL 225,000.00 06051GFS3BANK OF AMERICA CORP NOTES DTD 07/30/2015 3.875% 08/01/2025

4.97 2.44
(21,265.92)(37,011.15) 220,834.35 98.15 06/15/25US_BANC 225,000.00 002824BM1ABBOTT LABORATORIES CORPORATE

NOTES (CAL
DTD 03/22/2017 3.875% 09/15/2025

4.61 2.34
(17,274.15)(17,274.15) 207,725.85 92.32 12/06/24MERRILL 225,000.00 06051GKE8BANK OF AMERICA CORP NOTES (CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025

4.35 1.91
(10,282.65)(10,282.65) 164,717.35 94.12 02/24/25JPM_CHA 175,000.00 46647PCV6JPMORGAN CHASE & CO CORP NOTES (CALLABLE
DTD 02/24/2022 2.595% 02/24/2026

4.62 2.08
(23,292.76)(23,165.55) 201,442.95 89.53 04/15/26CITIGRP 225,000.00 91324PEC2UNITEDHEALTH GROUP INC (CALLABLE) CORPOR
DTD 05/19/2021 1.150% 05/15/2026

4.53 3.23
(16,425.51)(16,337.58) 128,340.52 88.51 JPM_CHA 145,000.00 89236TJK2TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 06/18/2021 1.125% 06/18/2026

4.76 3.40

Page 21 ends

For the Month Ending December 31, 2022Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Corporate Note
(21,499.59)(21,485.10) 153,462.40 87.69 07/12/26MITSU 175,000.00 05565EBW4BMW US CAPITAL LLC (CALLABLE)

CORPORATE
DTD 08/12/2021 1.250% 08/12/2026

5.01 3.44
(21,070.78)(20,850.52) 203,013.23 90.23 JPM_CHA 225,000.00 14913R2U0CATERPILLAR FINL SERVICE CORPORATE NOTES
DTD 01/10/2022 1.700% 01/08/2027

4.38 3.86
(3,662.68)(3,649.88) 36,282.12 90.71 12/15/26CITIGRP 40,000.00 87612EBM7TARGET CORP CORP NOTES (CALLABLE) DTD 01/24/2022 1.950% 01/15/2027

4.49 3.78
(47,701.58)(47,506.17) 426,439.33 89.78 12/26/26DEUTSCH 475,000.00 06406RBA4BANK OF NY MELLON CORP (CALLABLE) CORPOR
DTD 01/26/2022 2.050% 01/26/2027

4.85 3.80
(29,818.44)(28,401.67) 437,687.33 92.14 02/15/27SEEL 475,000.00 084664CZ2BERKSHIRE HATHAWAY CORP NOTES (CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027

4.36 3.92
(628,531.97) 4.75 (539,482.57) 8,014,498.03 8,490,000.00 Security Type Sub-Total 2.22 Certificate of Deposit
(2,413.50)(2,413.50) 247,586.50 99.03 CSFB 250,000.00 22552G3C2CREDIT SUISSE NEW YORK CERT DEPOS DTD 03/23/2021 0.590% 03/17/2023

5.15 0.22
(198.99)(198.99) 449,801.01 99.96 TD 450,000.00 89115B6K1TORONTO DOMINION BANK NY CERT DEPOS
DTD 10/31/2022 5.600% 10/27/2025

5.59 3.52
(4,987.35)(4,987.35) 445,012.65 98.89 WELLS_F 450,000.00 65558UYF3NORDEA BANK ABP NEW YORK CERT DEPOS
DTD 11/03/2022 5.530% 11/03/2025

5.96 2.65
(7,599.84) 5.64 (7,599.84) 1,142,400.16 1,150,000.00 Security Type Sub-Total 2.46 Asset-Backed Security
(1,487.73)(1,481.78) 83,505.39 98.24 RBC 85,000.00 36261RAD0GMALT 2021-1 A4 DTD 02/24/2021 0.330% 02/20/2025

1.16 0.46
(1,292.20)(1,291.01) 33,706.04 96.30 SOCGEN 35,000.00 380144AD7GMALT 2021-2 A4 DTD 05/26/2021 0.410% 05/20/2025

2.00 0.78

Page 22 ends

For the Month Ending December 31, 2022Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Asset-Backed Security
(2,296.43)(2,293.61) 67,778.93 96.72 BARCLAY 70,079.91 44933LAC7HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025

1.62 0.69
(12,463.62)(12,461.86) 282,533.15 95.77 MITSU 295,000.00 65480BAC1NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025

1.89 0.88
(12,877.54)(12,865.29) 312,099.71 96.03 CITIGRP 325,000.00 89190GAC1TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025

1.67 0.78
(5,080.02)(5,074.43) 94,904.49 94.90 MERRILL 100,000.00 43815GAC3HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026

2.62 1.26
(3,956.32)(3,948.29) 101,985.03 96.25 MERRILL 105,956.15 14314QAC8CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026

1.75 0.71
(4,601.11)(4,596.64) 75,385.50 94.23 SMBC 80,000.00 44935FAD6HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026

2.52 1.23
(13,467.79)(13,457.18) 181,501.07 93.08 CITIGRP 195,000.00 254683CP8DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026

2.54 1.67
(4,965.90)(4,965.37) 80,032.46 94.16 JPM_CHA 85,000.00 362554AC1GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026

2.33 1.30
(6,034.48)(6,034.01) 203,961.03 97.12 RBC 210,000.00 14318MAD1CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027

4.71 1.98
(1,677.72)(1,676.09) 138,294.94 98.78 WELLS_F 140,000.00 65480JAC4NAROT 2022-B A3 DTD 09/28/2022 4.460% 05/17/2027

4.77 2.07
407.80 409.86 275,364.79 100.13 RBC 275,000.00 36265QAD8GMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027

4.79 2.12
1,640.46 1,641.72 246,603.28 100.65 RBC 245,000.00 14041NGB1COMET 2022-A3 A DTD 11/03/2022 4.950% 10/15/2027

4.80 2.56
(68,093.98) 3.08 (68,152.60) 2,177,655.81 2,246,036.06 Security Type Sub-Total 1.47 32,526,036.06 30,236,871.15 (1,885,296.20) (1,825,240.38) 4.44 Managed Account Sub-Total 2.41 Joint Powers Authority

0.00 0.00 46,870.41 1.00 46,870.41 CAMP Pool 0.00
46,870.41 46,870.41 0.00 0.00 Liquid Sub-Total 0.00

Page 23 ends

For the Month Ending December 31, 2022
Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Investments $30,378,390.22
$94,648.66
$30,283,741.56
Accrued Interest
Securities Sub-Total $32,572,906.47 ($1,885,296.20) ($1,825,240.38) 4.44% 2.41

Page 24 ends

For the Month Ending December 31, 2022Managed Account Security Transactions & Interest

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Transaction Type
Trade CUSIPSecurity DescriptionSettle Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
BUY
12/07/22 US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24 (1,954,066.41) (2,552.49) (1,956,618.90) 2,100,000.00 12/05/22 (2,552.49) (1,956,618.90)(1,954,066.41) 2,100,000.00 Transaction Type Sub-Total

INTEREST
12/01/22 JPMORGAN CHASE & CO (CALLABLE)

CORP NOTE
DTD 06/01/2021 0.824% 06/01/2025
46647PCH7 0.00 1,297.80 1,297.80 315,000.00 12/01/22 12/25/22 FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24 0.00 637.92 637.92 250,000.00 12/01/22
12/25/22 FHMS KP05 A
DTD 12/01/2018 3.203% 07/01/2023
3137FKK39 0.00 14.82 14.82 5,553.39 12/01/22
12/03/22 AMAZON INC CORP NOTES (CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025
023135BQ8 0.00 1,900.00 1,900.00 475,000.00 12/03/22 12/04/22 FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
3137EAFA2 0.00 375.00 375.00 300,000.00 12/04/22
12/06/22 BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025
06051GKE8 0.00 1,721.25 1,721.25 225,000.00 12/06/22 12/09/22 NATIONAL AUSTRALIA BK/NY

CORPORATE NOTES
DTD 06/09/2022 3.500% 06/09/2025
63254ABD9 0.00 4,375.00 4,375.00 250,000.00 12/09/22 12/15/22 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 0.00 49.33 49.33 80,000.00 12/15/22
12/15/22 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 0.00 47.67 47.67 110,000.00 12/15/22
12/15/22 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 0.00 23.58 23.58 74,474.21 12/15/22
12/15/22 NATIONAL RURAL UTIL COOP

CORPORATE NOTES
DTD 05/04/2022 3.450% 06/15/2025
63743HFE7 0.00 1,058.96 1,058.96 50,000.00 12/15/22 12/15/22 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
65480JAC4 0.00 520.33 520.33 140,000.00 12/15/22

Page 25 ends

For the Month Ending December 31, 2022Managed Account Security Transactions & Interest

INTEREST
12/15/22 TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
89190GAC1 0.00 70.42 70.42 325,000.00 12/15/22
12/15/22 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
254683CP8 0.00 94.25 94.25 195,000.00 12/15/22
12/15/22 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
14318MAD1 0.00 694.75 694.75 210,000.00 12/15/22
12/15/22 COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
14041NGB1 0.00 1,414.88 1,414.88 245,000.00 12/15/22 12/15/22 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
65480BAC1 0.00 81.13 81.13 295,000.00 12/15/22
12/16/22 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
362554AC1 0.00 48.17 48.17 85,000.00 12/16/22
12/16/22 GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
36265QAD8 0.00 1,104.58 1,104.58 275,000.00 12/16/22 12/18/22 TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 06/18/2021 1.125% 06/18/2026
89236TJK2 0.00 815.63 815.63 145,000.00 12/18/22
12/20/22 GMALT 2021-1 A4
DTD 02/24/2021 0.330% 02/20/2025
36261RAD0 0.00 23.38 23.38 85,000.00 12/20/22
12/20/22 GMALT 2021-2 A4
DTD 05/26/2021 0.410% 05/20/2025
380144AD7 0.00 11.96 11.96 35,000.00 12/20/22
12/21/22 HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
43815GAC3 0.00 73.33 73.33 100,000.00 12/21/22
12/28/22 AMERICAN HONDA FINANCE CORP
NOTE
DTD 06/27/2019 2.400% 06/27/2024
02665WCZ2 0.00 4,800.00 4,800.00 400,000.00 12/27/22 12/30/22 TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 06/30/2022 3.950% 06/30/2025
89236TKC8 0.00 1,975.00 1,975.00 100,000.00 12/30/22 12/31/22 US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 0.00 5,296.88 5,296.88 2,825,000.00 12/31/22 12/31/22 US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025
912828ZW3 0.00 875.00 875.00 700,000.00 12/31/22

Page 26 ends

For the Month Ending December 31, 2022Managed Account Security Transactions & Interest

INTEREST
12/31/22 US TREASURY NOTES
DTD 06/30/2017 2.000% 06/30/2024
912828XX3 0.00 9,000.00 9,000.00 900,000.00 12/31/22 12/31/22 US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
912828YY0 0.00 4,375.00 4,375.00 500,000.00 12/31/22 42,776.02 42,776.02 0.00 9,695,027.60 Transaction Type Sub-Total

PAYDOWNS
12/25/22 FHMS KP05 A
DTD 12/01/2018 3.203% 07/01/2023
3137FKK39 5,553.39 0.00 5,553.39 0.02 0.00 5,553.39 12/01/22 12/15/22 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 4,394.30 0.00 4,394.30 0.46 0.00 4,394.30 12/15/22 12/15/22 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 4,043.85 0.00 4,043.85 0.87 0.00 4,043.85 12/15/22

0.00 0.00 1.35 13,991.54 13,991.54 13,991.54 Transaction Type Sub-Total SELL
12/07/22 US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
912828YY0 1,899,921.88 15,217.39 1,915,139.27 (230,703.12) (160,250.10) FIFO 2,000,000.00 12/05/22 15,217.39 (160,250.10)(230,703.12) 1,915,139.27 1,899,921.88 2,000,000.00 Transaction Type Sub-Total (40,152.99) 55,440.92 15,287.93 (230,701.77) (160,250.10)Managed Account Sub-Total Total Security Transactions ($230,701.77)$15,287.93 $55,440.92 ($40,152.99) ($160,250.10)

Page 27 ends

For the Month Ending December 31, 2022Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool
53,691.54 Opening Balance
12/01/22 12/01/22 Purchase - Interest 46647PCH7 1.00 1,297.80 54,989.34 12/05/22 12/05/22 Purchase - Interest 023135BQ8 1.00 1,900.00 56,889.34 12/05/22 12/05/22 Purchase - Interest 3137EAFA2 1.00 375.00 57,264.34 12/06/22 12/06/22 Purchase - Interest 06051GKE8 1.00 1,721.25 58,985.59 12/07/22 12/07/22 Purchase - Interest 912828YY0 1.00 15,217.39 74,202.98 12/07/22 12/07/22 Purchase - Principal 912828YY0 1.00 1,899,921.88 1,974,124.86 12/07/22 12/07/22 Redemption - Principal 912828U24 1.00 (1,954,066.41) 20,058.45 12/07/22 12/07/22 Redemption - Interest 912828U24 1.00 (2,552.49) 17,505.96 12/09/22 12/09/22 Purchase - Interest 63254ABD9 1.00 4,375.00 21,880.96 12/15/22 12/15/22 Purchase - Interest 63743HFE7 1.00 1,058.96 22,939.92 12/15/22 12/15/22 Purchase - Interest 14041NGB1 1.00 1,414.88 24,354.80 12/15/22 12/15/22 Purchase - Interest 14314QAC8 1.00 47.67 24,402.47 12/15/22 12/15/22 Purchase - Interest 14318MAD1 1.00 694.75 25,097.22 12/15/22 12/15/22 Purchase - Interest 254683CP8 1.00 94.25 25,191.47 12/15/22 12/15/22 Purchase - Interest 44933LAC7 1.00 23.58 25,215.05 12/15/22 12/15/22 Purchase - Interest 44935FAD6 1.00 49.33 25,264.38 12/15/22 12/15/22 Purchase - Interest 65480BAC1 1.00 81.13 25,345.51 12/15/22 12/15/22 Purchase - Interest 65480JAC4 1.00 520.33 25,865.84 12/15/22 12/15/22 Purchase - Interest 89190GAC1 1.00 70.42 25,936.26 12/15/22 12/15/22 Purchase - Principal 14314QAC8 1.00 4,043.85 29,980.11 12/15/22 12/15/22 Purchase - Principal 44933LAC7 1.00 4,394.30 34,374.41

Page 28 ends

For the Month Ending December 31, 2022Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool
12/16/22 12/16/22 Purchase - Interest 362554AC1 1.00 48.17 34,422.58 12/16/22 12/16/22 Purchase - Interest 36265QAD8 1.00 1,104.58 35,527.16 12/19/22 12/19/22 Purchase - Interest 89236TJK2 1.00 815.63 36,342.79 12/20/22 12/20/22 Purchase - Interest 36261RAD0 1.00 23.38 36,366.17 12/20/22 12/20/22 Purchase - Interest 380144AD7 1.00 11.96 36,378.13 12/21/22 12/21/22 Purchase - Interest 43815GAC3 1.00 73.33 36,451.46 12/23/22 12/23/22 IP Fees November 2022 1.00 (2,534.39) 33,917.07 12/23/22 12/23/22 U.S. Bank Fees October 2022 1.00 (163.20) 33,753.87 12/27/22 12/27/22 Purchase - Interest 3137BGK24 1.00 637.92 34,391.79 12/27/22 12/27/22 Purchase - Interest 3137FKK39 1.00 14.82 34,406.61 12/27/22 12/27/22 Purchase - Principal 3137FKK39 1.00 5,553.39 39,960.00 12/28/22 12/28/22 Purchase - Interest 02665WCZ2 1.00 4,800.00 44,760.00 12/30/22 12/30/22 Purchase - Interest 89236TKC8 1.00 1,975.00 46,735.00 12/30/22 01/03/23 Accrual Income Div Reinvestment - Distributions 1.00 135.41 46,870.41

Page 29 ends

For the Month Ending December 31, 2022Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDate Transaction Description of TransactionUnit PriceDate 46,870.41
46,870.41
46,870.41
37,010.35
1,710.02

0.00 (11,721,974.84)
11,513,668.57
255,176.68
135.41
46,870.41

0.00 (1,959,316.49)
1,952,495.36
53,691.54
Monthly Distribution Yield
Average Monthly Balance
Closing Balance
Fiscal YTDMonth of
Cash Dividends and Income
Closing Balance
Check Disbursements
Redemptions (Excl. Checks)
Purchases
Opening Balance
Closing Balance
December January-December

4.30%

Page 30 ends

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor or Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Jason Simpson, City Manager
Date: February 14, 2023
Subject: Second Reading of an Ordinance Amending the Ramsgate Development Agreement to Include Tentative Tract Map No. 33725
Recommendation
Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY COUNCIL OF

THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING A FIRST AMENDMENT TO THE

RAMSGATE DEVELOPMENT AGREEMENT FOR THE PURPOSE OF INCLUDING TENTATIVE TRACT MAP NO. 33725 (DEVELOPMENT AGREEMENT NO. 2022-02).

Background/Discussion
At its Regular meeting on January 24, 2023, the City Council introduced by title only and waived further reading of the Ordinance.

Attachments
Attachment 1- Ordinance
ORDINANCE NO. 2023-1481

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, APPROVING A FIRST AMENDMENT TO THE RAMSGATE

DEVELOPMENT AGREEMENT FOR THE PURPOSE OF INCLUDING
TENTATIVE TRACT MAP NO. 33725 (DEVELOPMENT AGREEMENT NO. 2022-02
Whereas, SPT-AREP III Tuscany Associates LLC, has requested approval of Development Agreement No. 2022-02 for the purpose of amending the Development Agreement for the Ramsgate Specific Plan to include Tentative Tract Map (TTM) No. 33725; and Whereas, on June 20, 1990, the City approved and adopted the Ramsgate Development Agreement, which was recorded on June 27, 1990 and included 1,190 acres of the overall 1,291- acre Ramsgate Specific Plan area; and
Whereas, TTM 33725 is a previously approved subdivision of 52.7 acres into 204 single family residential lots, three (3) water quality basins, 15 open space lots, and one (1) sewer lift station located west of Greenwald Avenue and south of Little Valley Road within Ramsgate Specific Plan (APNs: 349-240-006, 043 thru 047, 054, 055, 056, 349-380-024 and 025); and, Whereas, although located within the Ramsgate Specific Plan, TTM No. 33725 was never included in the original development agreement; and
Whereas, the amended development agreement would vest the development rights under TTM 33725 until the earlier of either (1) 48 months after SCE is able to provide necessary power to serve TTM No. 25475 and 33725 or (2) December 31, 2027, unless the agreement is otherwise terminated, modified, or extended; and
Whereas, pursuant to LEMC Chapter 19.12 (Development Agreements) the Planning Commission of the City of Lake Elsinore has been delegated with the responsibility of reviewing and making a recommendation to the City Council whether the development agreement is consistent with the City’s General Plan and whether to approve the development agreement; and
Whereas, on December 6, 2022, at a duly noticed public hearing, the Planning Commission considered evidence presented by the Community Development Department and other interested parties with respect to this item and recommended approval of the proposed First Amendment to the City Council.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:

Section 1. CEQA Determination. Pursuant to CEQA Guidelines Section 15162, no new environmental documentation is necessary because no changes to the project are proposed and all potentially significant effects have been adequately analyzed in an earlier Environmental Impact Report (EIR) and none of the conditions described in Section 15162 exist. The City previously performed environmental review in compliance with CEQA when it approved the Development Agreement and first amendment to the Specific Plan in 1990 based on a Supplemental Environmental Impact Report (SCH 88090525); approved TTM 33725 in 2006, based on a Mitigated Negative Declaration (No. 2006-04); and approved modifications to TTM Ord. No. 2023-1481

Page 2 of 4 ends

2 6
2 2
3 No. 33725 in 2021 based on an Addendum. The First Amendment will not have any significant direct, indirect, or cumulative environmental impacts apart from or beyond those already analyzed, addressed, and mitigated as stated in the environmental documentation prepared and adopted/approved for TTM No. 33725. All potentially significant impacts have been avoided or mitigated pursuant to the earlier environmental impact report and none of the conditions in Public Resources Code Section 21166 or CEQA Guidelines Sections 15162, 15163 and 15164 calling for preparation of a subsequent or supplemental environmental impact report have occurred because of the following: (i) the Project does not propose substantial changes that would require major revisions to the previously certified EIR and subsequent Addendum due to new significant environmental effects or a substantial increase in the severity of previously identified significant environmental effects; (ii) no substantial changes in circumstances have occurred that require major revisions to the previously certified EIR and subsequent Addendum due to new significant environmental effects or a substantial increase in the severity of previously identified significant effects; and (iii) no new information of substantial importance as described in Section 15162 (a)(3) has been identified that shows any of the following: (a) one or more significant effects not discussed in the EIR, (b) significant effects previously examined that are substantially more severe than shown in the EIR, (c) mitigation measures or alternatives previously found not to be feasible are in fact be feasible and substantially reduce one or more significant effects of the project, but the Project proponents decline to adopt the mitigation measure or alternative, or (d) mitigation measures or alternatives which are considerably different from those analyzed in the EIR and subsequent Addendum substantially reduce one or more significant effects on the environment, but the Project proponents decline to adopt the mitigation measure or alternative.

Therefore, no further environmental documentation is necessary.

Section 2. Findings. That in accordance with California Planning and Zoning Law and the Lake Elsinore Municipal Code Section 19.12.070, the City Council makes the following findings regarding the First Amendment to the Ramsgate Development Agreement:

1. It is consistent with the objectives, policies, general land uses and programs specified in the General Plan and any applicable specific plan;
The proposed development agreement will assist in the development of TTM 33725 is located within the Ramsgate Specific Plan. The proposed subdivision is compatible with the objectives, policies, general land uses and programs as identified within the Specific Plan. The Ramsgate Specific Plan was subject to a consistency finding with the General Plan prior to adoption. The proposed subdivision is consistent with the provisions of the Ramsgate Specific Plan and is therefore found to be consistent with the General Plan.

2. It is compatible with the uses authorized in, and the regulations prescribed for, the land use district in which the real property is located;
The proposed development agreement contemplates residential development consistent with the Ramsgate Specific Plan residential land use designation for this site.

3. It is in conformity with public convenience, general welfare and good land use practices; The overall density and design is consistent and compatible with the adjacent communities.

Further the development of the proposed development is consistent with the underlying General Plan and Zoning land use designations, indicative of good land use practices.

Ord. No. 2023-1481

Page 3 of 4 ends

2 6
2 2
3 4. It will not be detrimental to the health, safety and general welfare; The proposed Development Agreement will facilitate the development of the 204 single-family dwelling units. The previously approved map was found not to be detrimental to the health, safety and general welfare.

5. It will not adversely affect the orderly development of property or the preservation of property values;
The proposed Development Agreement will facilitate the development of the 204 single-family residential dwelling units. The previously approved map was found not to adversely affect the orderly development of property or the preservation of property values.

6. It is consistent with the provisions of Government Code Sections 65864 through 65869.5.

The proposed Development Agreement includes all mandatory provisions required by Government Code § 65865.2 and does not include any provisions that are not authorized by the Development Agreement Act.

Section 3: Approval. Based upon the evidence presented and the above findings, the Council hereby approves the First Amendment to the Ramsgate Development Agreement.

Section 4: Severability. If any provision of this Ordinance or its application is held invalid by a court of competent jurisdiction, such invalidity shall not affect other provisions, sections, or applications of the Ordinance which can be given effect without the invalid provision or application, and to this end each phrase, section, sentence, or word is declared to be severable.

Section 5: Effective Date. This Ordinance shall become effective at 12:01 a.m. on the thirty-first (31 st) day after the date of adoption.

Section 6: Certification. The City Clerk shall certify to the passage of this Ordinance and shall cause a synopsis of the same to be published according to law.

PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council of the City of Lake Elsinore, California, on this 14th day of February 2023.

Natasha Johnson
Mayor
Attest:

Candice Alvarez, MMC
City Clerk
Ord. No. 2023-1481

Page 4 of 4 ends

2 6
2 2
3 STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that Ordinance No. 2022-1481 was introduced by the City Council of the City of Lake Elsinore, California, at its Regular meeting of January 24, 2023 and adopted at its Regular meeting of February 14, 2023 and that the same was adopted by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

Candice Alvarez, MMC
City Clerk

Page 1 of 2 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor or Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Shannon Buckley, Assistant City Manager
Date: February 14, 2023
Subject: Intention to Establish Community Facilities District No. 2023-1 of the City of Lake Elsinore (Lakeside)
Recommendation

1. Adopt A RESOLUTION OF INTENTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE TO ESTABLISH COMMUNITY FACILITIES DISTRICT NO. 2023-1 OF THE CITY

OF LAKE ELSINORE (LAKESIDE), TO AUTHORIZE THE LEVY OF A SPECIAL TAX TO

PAY THE COSTS OF ACQUIRING OR CONSTRUCTING CERTAIN FACILITIES AND TO PAY DEBT SERVICE ON BONDED INDEBTEDNESS; and

2. Adopt A RESOLUTION OF INTENTION OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE TO INCUR BONDED INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $9,000,000 WITHIN PROPOSED COMMUNITY FACILITIES DISTRICT NO. 2023-1 OF THE CITY OF LAKE ELSINORE (LAKESIDE).

Background
The Property to be included within the proposed Community Facilities District No. 2023-1 of the City of Lake Elsinore (Lakeside) (“CFD No. 2023-1” or the “District”) is located on the northeast corner of Grand Avenue and Riverside Drive, in the western part of the City of Lake Elsinore (the “Property”) (see the attached project map). The Property is approximately 35 gross acres with plans to be entitled to 140 single-family residential lots. The Property is currently owned by Tri Pointe Homes IE-SD, Inc. (the “Property Owner”).

The Property Owner has requested that the City form CFD No. 2023-1 encompass the Property under the Mello-Roos Community Facilities Act of 1982, as amended (the “Act”), to finance the costs of specific public improvements through the levy of a special tax and the issuance of bonds.

The maximum amount of bonded indebtedness proposed is $9 million.

Establish CFD No. 2023-1 (Lakeside)

Page 2 of 2 ends

On January 10, 2023, the City Council adopted resolutions that declared the intention to form CFD No. 2023-1 and to incur bonded indebtedness for CFD No. 2023-1. Due to a clerical error, the previous resolutions called for a public hearing on the formation of CFD No. 2023-1 on February 21, 2023 which is not a regularly scheduled City Council meeting date. The resolutions presented at this meeting rescind the previous resolutions adopted on January 10, 2023, and call for a public hearing on the formation of CFD No. 2023-1 for March 28, 2023.

Discussion
The Property Owner has requested that the boundaries of CFD No. 2023-1 include the area described in Attachment A of the Resolution of Intention to Establish CFD No. 2023-1 presented at this meeting (the “Resolution of Intention”) and that special taxes be levied within the boundaries of the District per the Rate and Method of Apportionment (the “RMA”) described in Attachment C to the Resolution of Intention. The Resolution of Intention is the first step in forming CFD No. 2023-1. The attached Resolutions declare the City’s intention to establish CFD No. 2023-1, its intention to incur bonded indebtedness by CFD No. 2023-1 and call for a public hearing. A public hearing on the matter will occur on March 28, 2023. At that time, the Council will formally consider the establishment of CFD No. 2023-1 and hold elections on the approval of the special taxes and the need to incur bonded indebtedness within CFD No. 2023-1.

Fiscal Impact
The Property Owner has made a deposit to pay for the costs of the formation proceedings, which may be reimbursed to the Property Owner per a reimbursement agreement with the Property Owner. If established and subject to necessary Council and voter approvals, CFD No. 2023-1 will annually levy special taxes on all of the taxable Property within the District per the RMA (as attached to the Resolution of Intention). Such special taxes will be used to pay for the costs of facilities, debt service on bonds, and administration of CFD No. 2023-1. Any bonds issued by CFD No. 2023-1 are not obligations of the City and will be secured solely by the Special Taxes levied within CFD No. 2023-1.

The RMA provides that the annual special tax rates will range from $3,228 for homes less than 1,900 square feet to $3,564 for homes greater than 2,100 square feet, which rates escalate at 2% per year.

Attachments
Attachment 1 - Resolution of Intention to Establish CFD 2023-1 Attachment 2 - Resolution of Intention to Incur Debt
Attachment 3 - Landowner Petition
Attachment 4 - Project Map
Attachment 5 - Reimbursement Agreement
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RESOLUTION NO. __________

RESOLUTION OF INTENTION OF THE CITY COUNCIL OF THE

CITY OF LAKE ELSINORE TO ESTABLISH COMMUNITY
FACILITIES DISTRICT NO. 2023-1 OF THE CITY OF LAKE

ELSINORE (LAKESIDE), TO AUTHORIZE THE LEVY OF A

SPECIAL TAX TO PAY THE COSTS OF ACQUIRING OR

CONSTRUCTING CERTAIN FACILITIES AND TO PAY DEBT

SERVICE ON BONDED INDEBTEDNESS
Whereas, the City of Lake Elsinore (the “City”) received a petition signed by the owners of all of the land within the boundaries of the territory which is proposed for inclusion in a proposed community facilities district, which petition meets the requirements of Sections 53318 and 53319 of the Government Code of the State of California; and
Whereas, the City Council of the City (the “City Council”) desires to adopt this resolution of intention as provided in Section 53321 of the Government Code of the State of California to establish a community facilities district consisting of the territory described in Attachment “A” hereto and incorporated herein by this reference, which the City Council hereby determines shall be known as “Community Facilities District No. 2023-1 of the City of Lake Elsinore (Lakeside)” (“Community Facilities District No. 2023-1” or the “District”) pursuant to the Mello- Roos Community Facilities Act of 1982, as amended, commencing with Section 53311 of the Government Code (the “Act”) to finance (1) the purchase, construction, modification, expansion, improvement or rehabilitation of certain real or other tangible property described in Attachment “B” hereto and incorporated herein by this reference, including all furnishings, equipment and supplies related thereto (collectively, the “Facilities”), which Facilities have a useful life of five years or longer, and (2) the incidental expenses to be incurred in connection with financing the Facilities and forming and administering the District (the “Incidental Expenses”); and Whereas, the City Council further intends to approve an estimate of the costs of the Facilities and the Incidental Expenses for Community Facilities District No. 2023-1; and Whereas, it is the intention of the City Council to consider financing the Facilities and the Incidental Expenses through the formation of Community Facilities District No. 2023-1 and the issuance of bonded indebtedness in an amount not to exceed $9,000,000 with respect to the Facilities and the Incidental Expenses and the levy of a special tax to pay for the Facilities and the Incidental Expenses (the “Special Tax”) and to pay debt service on the bonded indebtedness, provided that the bond sale and such Special Tax levy are approved at an election to be held within the boundaries of Community Facilities District No. 2023-1; and Whereas, the City desires to enter into a reimbursement agreement with Tri Pointe Homes IE- SD, Inc., a California corporation (the “Developer”), the form of which is on file with the City Clerk (the “Reimbursement Agreement”), to provide for the reimbursement of certain amounts advanced by the Developer in connection with the formation of the District; and Whereas, the District and the Developer propose to enter into a joint community facilities agreements (the “JCFA”) with Elsinore Valley Municipal Water District (the “Water District”) relating to certain facilities proposed to be financed by the District and owned and operated by the Water District, and the District expects to enter into the JCFA prior to the approval of the issuance of bonds pursuant to the Act; and
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Whereas, the City Council adopted Resolution No. 2023-3 on January 10, 2023 relating to the formation of the District and the City Council desires to rescind Resolution No. 2023-3; and

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:

Section 1. The above recitals are true and correct.

Section 2. A community facilities district is proposed to be established under the terms of the Act. It is further proposed that the boundaries of the community facilities district shall be the legal boundaries as described in Attachment “A” hereto, which boundaries shall, upon recordation of the boundary map for the District, include the entirety of any parcel subject to taxation by the District, and as depicted on the map of the proposed Community Facilities District No. 2023-1 which is on file with the City Clerk. The City Clerk is hereby directed to sign the original map of the District and record it with all proper endorsements thereon with the Assessor-County Clerk-Recorder of the County of Riverside within 15 days after the adoption of this resolution, all as required by Section 3111 of the Streets and Highways Code of the State of California.

Section 3. The name of the proposed community facilities district shall be “Community Facilities District No. 2023-1 of the City of Lake Elsinore (Lakeside).” Section 4.The Facilities proposed to be provided within Community Facilities District No. 2023-1 are public facilities as defined in the Act, which the City and the Water District, with respect to certain water and sewer facilities, are authorized by law to construct, acquire, own and operate. The City Council hereby finds and determines that the description of the Facilities herein is sufficiently informative to allow taxpayers within the proposed District to understand what the funds of the District may be used to finance. The Incidental Expenses expected to be incurred include the cost of planning and designing the Facilities, the costs of forming the District, issuing bonds and levying and collecting the Special Tax within the proposed District.

The Facilities may be acquired from one or more of the property owners within the District as completed public improvements or may be constructed from bond or Special Tax proceeds.

All or a portion of the Facilities may be purchased with District funds as completed public facilities pursuant to Section 53314.9 or as discrete portions or phases pursuant to Section 53313.51 of the Act and/or constructed with District funds pursuant to Section 53316.2 of the Act. Any portion of the Facilities may be financed through a lease or lease-purchase arrangement if the District hereafter determines that such arrangement is of benefit to the District.

Section 5.Except where funds are otherwise available, it is the intention of the City Council to levy annually in accordance with the procedures contained in the Act the Special Tax, secured by recordation of a continuing lien against all nonexempt real property in the District, sufficient to pay for: (i) the Facilities and Incidental Expenses; and (ii) the principal and interest and other periodic costs on bonds or other indebtedness issued to finance the Facilities and Incidental Expenses, including the establishment and replenishment of any reserve funds deemed necessary by the District, and any remarketing, credit enhancement and liquidity facility fees (including such fees for instruments which serve as the basis of a reserve fund in lieu of cash). The rate and method of apportionment and manner of collection of the Special Tax are described in detail in Attachment “C” attached hereto, which Attachment “C” is incorporated 3 4880-5326-6239v3/022042-0046
herein by this reference. Attachment “C” allows each landowner within the District to estimate the maximum amount of the Special Tax that may be levied against each parcel. In the first year in which such Special Tax is levied, the levy shall include an amount sufficient to repay to the District all amounts, if any, transferred to the District pursuant to Section 53314 of the Act and interest thereon.

If the Special Tax is levied against any parcel used for private residential purposes, (i) the maximum Special Tax rate shall be specified as a dollar amount which shall be calculated and established not later than the date on which the parcel is first subject to the Special Tax because of its use for private residential purposes and shall not be increased over time, except as set forth in Attachment “C” hereto, (ii) such Special Tax not shall be levied after fiscal year 2069-70, as described in Attachment “C” hereto, and (iii) under no circumstances will the Special Tax levied in any fiscal year against any such parcel used for private residential uses be increased as a consequence of delinquency or default by the owner or owners of any other parcel or parcels within the District by more than ten percent (10%) above the amount that would have been levied in that fiscal year had there never been any such delinquencies or defaults.

The Special Tax is based on the expected demand that each parcel of real property within proposed Community Facilities District No. 2023-1 will place on the Facilities and on the benefit that each parcel derives from the right to access the Facilities. The City Council hereby determines that the proposed Facilities are necessary to meet the increased demand placed upon the City and the existing infrastructure in the City as a result of the development of the land proposed for inclusion in the District. The City Council hereby determines the rate and method of apportionment of the special tax with respect to the Special Tax set forth in Attachment “C” to be reasonable. The Special Tax is apportioned to each parcel on the foregoing basis pursuant to Section 53325.3 of the Act and such special tax is not on or based upon the value or ownership of real property. In the event that a portion of the property within Community Facilities District No. 2023-1 shall become for any reason exempt, wholly or partially, from the levy of the Special Tax specified on Attachment “C,” the City Council shall, on behalf of Community Facilities District No. 2023-1, cause the levy to be increased, subject to the limitation of the maximum Special Tax for a parcel as set forth in Attachment “C,” to the extent necessary upon the remaining property within proposed Community Facilities District No. 2023- 1 which is not exempt in order to yield the Special Tax revenues required for the purposes described in this Section 5. The obligation to pay the Special Tax may be prepaid only as set forth in Section G of Attachment “C” hereto.

Section 6. A public hearing (the “Hearing”) on the establishment of the proposed Community Facilities District No. 2023-1, the proposed rate and method of apportionment of the Special Tax and the proposed issuance of bonds to finance the Facilities and the Incidental Expenses shall be held at 7:00 p.m., or as soon thereafter as practicable, on March 28, 2023, at the City Cultural Center, 183 North Main Street, Lake Elsinore, California. Should the City Council determine to form the District, a special election will be held to authorize the issuance of the bonds and the levy of the special tax in accordance with the procedures contained in Government Code Section 53326. If held, the proposed voting procedure at the election will be a landowner vote with each landowner who is the owner of record of land within the District at the close of the Hearing, or the authorized representative thereof, having one vote for each acre or portion thereof owned within the proposed District. Ballots for the special election may be distributed by mail or by personal service.
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Section 7. At the time and place set forth above for the Hearing, the City Council will receive testimony as to whether the proposed Community Facilities District No. 2023-1 shall be established and as to the method of apportionment of the special tax and shall consider:
(a) if an ad valorem property tax is currently being levied on property within proposed Community Facilities District No. 2023-1 for the exclusive purpose of paying principal of or interest on bonds, lease payments or other indebtedness incurred to finance construction of capital facilities; and
(b) if the capital facilities to be financed and constructed by Community Facilities District No. 2023-1 will provide the same services as were provided by the capital facilities mentioned in subsection (a); and
(c) if the City Council makes the findings specified in subsections (a) and (b) above, it will consider appropriate action to determine whether the total annual amount of ad valorem property tax revenue due from parcels within Community Facilities District No. 2023-1, for purposes of paying principal and interest on the debt identified in subsection (a) above, shall not be increased after the date on which Community Facilities District No. 2023-1 is established, or after a later date determined by the City Council with the concurrence of the legislative body which levied the property tax in question.

Section 8. At the time and place set forth above for the Hearing, any interested person, including all persons owning lands or registered to vote within proposed Community Facilities District No. 2023-1, may appear and be heard.

Section 9. Each City officer who is or will be responsible for providing the Facilities within proposed Community Facilities District No. 2023-1, if it is established, is hereby directed to study the proposed District and, at or before the time of the above-mentioned Hearing, file a report with the City Council containing a brief description of the public facilities by type which will in his or her opinion be required to meet adequately the needs of Community Facilities District No. 2023-1 and an estimate of the cost of providing those public facilities, including the cost of environmental evaluations of such facilities and an estimate of the fair and reasonable cost of any Incidental Expenses to be incurred.

Section 10. The District may accept advances of funds or work-in-kind from any source, including, but not limited to, private persons or private entities, for any authorized purpose, including, but not limited to, paying any cost incurred in creating Community Facilities District No. 2023-1. The District may enter into an agreement with the person or entity advancing the funds or work-in-kind, to repay all or a portion of the funds advanced, or to reimburse the person or entity for the value, or cost, whichever is less, of the work-in-kind, as determined by the City Council, with or without interest.

Section 11. The City Clerk is hereby directed to publish a notice (the “Notice”) of the Hearing pursuant to Section 6061 of the Government Code in a newspaper of general circulation published in the area of proposed Community Facilities District No. 2023-1. The City Clerk is further directed to mail a copy of the Notice to each of the landowners within the boundaries of the District at least 15 days prior to the Hearing. The Notice shall contain the text or a summary of this Resolution, the time and place of the Hearing, a statement that the testimony of all interested persons or taxpayers will be heard, a description of the protest rights of the registered voters and landowners in the proposed district and a description of the proposed voting 5 4880-5326-6239v3/022042-0046
procedure for the election required by the Act. Such publication shall be completed at least seven (7) days prior to the date of the Hearing.

Section 12. The reasonably expected maximum principal amount of the bonded indebtedness to be incurred by the District for the Facilities and Incidental Expenses is Nine Million Dollars ($9,000,000).

Section 13. The form of the Reimbursement Agreement is hereby approved. The Mayor, the City Manager, or their written designees are hereby authorized and directed to execute and deliver the Reimbursement Agreement in the form on file with the City Clerk with such changes, insertions and omissions as may be approved by the officer or officers executing such agreement, said execution being conclusive evidence of such approval.

Section 14. Except to the extent limited in any bond resolution or trust indenture related to the issuance of bonds, the City Council hereby reserves to itself all rights and powers set forth in Section 53344.1 of the Act (relating to tenders in full or partial payment).

Section 15. Resolution No. 2023-3 is hereby rescinded and shall be of no further effect.

Section 16. This Resolution shall be effective upon its adoption.

Passed and Adopted on this 14 th day of February, 2023. _____________________________
Natasha Johnson, Mayor
Attest:
_____________________________
Candice Alvarez, MMC
City Clerk
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that Resolution No. 2023-______ was adopted by the City Council of the City of Lake Elsinore, California, at the Regular meeting of February 14, 2023 and that the same was adopted by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
________________________________
Candice Alvarez, MMC
City Clerk
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ATTACHMENT A

BOUNDARY MAP

B-1
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ATTACHMENT B
Types of Facilities
to Be Financed by Community
Facilities District No. 2023-1 of the City of Lake Elsinore (Lakeside) The proposed types of public facilities and expenses to be financed by the District include:

The construction, purchase, modification, expansion, rehabilitation and/or improvement of (i) drainage, library, park, fire, roadway, traffic, administration and community center facilities, marina/lakeside and animal shelter facilities, and other public facilities of the City, including the foregoing public facilities which are included in the City’s fee programs with respect to such facilities and authorized to be financed under the Mello-Roos Community Facilities Act of 1982, as amended, and (ii) water and sewer facilities including the acquisition of capacity in the sewer system and/or water system of the Elsinore Valley Municipal Water District which are included in Elsinore Valley Municipal Water District’s water and sewer capacity and connection fee programs (the “Water District Facilities” and together, with the City Facilities, the “Facilities”), and all appurtenances and appurtenant work in connection with the foregoing Facilities, including the cost of engineering, planning, designing, materials testing, coordination, construction staking, construction management and supervision for such Facilities, and to finance the incidental expenses to be incurred, including:
a. The cost of engineering, planning and designing the Facilities; b. All costs, including costs of the property owner petitioning to form the District, associated with the creation of the District, the issuance of the bonds, the determination of the amount of special taxes to be levied and costs otherwise incurred in order to carry out the authorized purposes of the District; and
c. Any other expenses incidental to the construction, acquisition, modification, rehabilitation, completion and inspection of the Facilities.

Capitalized terms used and not defined herein shall have the meaning set forth in the Rate and Method of Apportionment of Special Taxes for the District.

C-1
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ATTACHMENT C

RATE AND METHOD OF APPORTIONMENT FOR
COMMUNITY FACILITIES DISTRICT NO. 2023-1

OF THE CITY OF LAKE ELSINORE
(LAKESIDE)
A Special Tax (all capitalized terms are defined in Section A, “Definitions”, below) shall be applicable to each Assessor’s Parcel of Taxable Property located within the boundaries of the City of Lake Elsinore Community Facilities District No. 2023-1 (Lakeside) ("CFD No. 2023-1”).

The amount of Special Tax to be levied in each Fiscal Year on an Assessor’s Parcel shall be determined by the City Council of the City of Lake Elsinore, acting in its capacity as the legislative body of CFD No. 2023-1, by applying the appropriate Special Tax for Developed Property, Approved Property, Undeveloped Property, and Provisional Undeveloped Property that is not Exempt Property as set forth below. All of the real property, unless exempted by law or by the provisions hereof in Section F, shall be taxed for the purposes, to the extent and in the manner herein provided.

A. DEFINITIONS
The terms hereinafter set forth have the following meanings:
“Accessory Dwelling Unit” means a residential unit of limited size including a smaller second unit that shares an Assessor’s Parcel as a Single Family Residential Property with a stand- alone Residential Unit.
"Acre or Acreage" means the land area of an Assessor's Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor’s Parcel Map, the land area shown on the applicable final map, parcel map, condominium plan, or other recorded County parcel map or instrument. The square footage of an Assessor’s Parcel is equal to the Acreage multiplied by 43,560.
"Act" means the Mello-Roos Communities Facilities Act of 1982, as amended, being Chapter

2.5 (commencing with Section 53311) of Part 1 of Division 2 of Title 5 of the Government Code of the State of California.
"Administrative Expenses" means the following actual or reasonably estimated costs directly related to the administration of CFD No. 2023-1: the costs of computing the Special Taxes and preparing the Special Tax collection schedules (whether by the City or designee thereof or both); the costs of collecting the Special Taxes (whether by the City or otherwise); the costs of remitting Special Taxes to the Trustee; the costs of the Trustee (including legal counsel) in the discharge of the duties required of it under the Indenture; the costs to the City, CFD No. 2023-1 or any designee thereof of complying with arbitrage rebate requirements; the costs to the City, CFD No. 2023-1 or any designee thereof of complying with disclosure requirements of the City, CFD No. 2023-1 or obligated persons associated with applicable federal and state securities laws and the Act; the costs associated with preparing Special Tax disclosure statements and responding to public inquiries regarding the Special Taxes; the costs of the City, CFD No. 2023- 1 or any designee thereof related to an appeal of the Special Tax; the costs associated with the release of funds from an escrow account; and the City’s annual administration fees and third party expenses. Administration Expenses shall also include amounts estimated by the CFD Administrator or advanced by the City or CFD No. 2023-1 for any other administrative purposes C-2
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of CFD No. 2023-1, including attorney’s fees and other costs related to commencing and pursuing to completion any foreclosure of delinquent Special Taxes. "Approved Property" means all Assessor’s Parcels of Taxable Property: (i) that are included in a Final Map that was recorded prior to the January 1 st preceding the Fiscal Year in which the Special Tax is being levied, (ii) and has an assigned Assessor’s Parcel Number from the County shown on an Assessor’s Parcel Map for the individual lot included on the Final Map, and (iii) that have not been issued a building permit on or before May 1 st preceding the Fiscal Year in which the Special Tax is being levied.
"Assessor’s Parcel" means a lot or parcel of land designated on an Assessor’s Parcel Map with an assigned Assessor’s Parcel Number.
"Assessor’s Parcel Map" means an official map of the Assessor of the County designating parcels by Assessor’s Parcel Number.
"Assessor’s Parcel Number" means that number assigned to an Assessor’s Parcel by the County for purposes of identification.
"Assigned Special Tax" means the Special Tax of that name described in Section D below. "Backup Special Tax" means the Special Tax of that name described in Section D below. "Boundary Map" means a recorded map of the CFD which indicates the boundaries of the CFD.
"Bonds" means any obligation to repay a sum of money, including obligations in the form of bonds, notes, certificates of participation, long-term leases, loans from government agencies, or loans from banks, other financial institutions, private businesses, or individuals, or long-term contracts, or any refunding thereof, to which Special Tax of CFD No. 2023-1 have been pledged.
"Building Permit" means the first legal document issued by a local agency giving official permission for new construction. For purposes of this definition, “Building Permit” may or may not include any subsequent building permit document(s) authorizing new construction on an Assessor’s Parcel that are issued or changed by the City after the first original issuance, as determined by the CFD Administrator as necessary to fairly allocate Special Tax to the Assessor’s Parcel, provided that following such determination the Maximum Special Tax that may be levied on all Assessor’s Parcels of Taxable Property will be at least 1.1 times maximum annual debt service on all outstanding Bonds plus the estimated annual Administrative Expenses.
"Building Square Footage" or "BSF" means the square footage of assessable internal living space, exclusive of garages or other structures not used as living space, as determined by reference to the Building Permit for such Assessor’s Parcel. "Calendar Year" means the period commencing January 1 of any year and ending the following December 31.
"CFD” or “CFD No. 2023-1” means Community Facilities District No. 2023-1 (Lakeside Highlands) established by the City under the Act.

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“CFD Administrator" means an official of the City, or designee thereof, responsible for determining the Special Tax Requirement, and providing for the levy and collection of the Special Taxes.
“City” means the City of Lake Elsinore.
"City Council" means the City Council of the City of Lake Elsinore, acting as the Legislative Body of CFD No. 2023-1.
“Condominium Plan" means a condominium plan as set forth in the California Civil Code, Section 6624.
"County" means the County of Riverside.
"Developed Property" means all Assessor’s Parcels that: (i) are included in a Final Map that was recorded prior to the January 1 st preceding the Fiscal Year in which the Special Tax is being levied, and (ii) has an Assessor’s Parcel Number from the County shown on an Assessor’s Parcel Map for the individual lot included on the Final Map, and (iii) a Building Permit for new construction was issued on or before May 1 st preceding the Fiscal Year in which the Special Tax is being levied.
"Exempt Property" means all Assessor’s Parcels designated as being exempt from Special Taxes as provided for in Section F.
"Final Map" means a subdivision of property by recordation of a final map, parcel map, or lot line adjustment, pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq.) or recordation of a Condominium Plan pursuant to California Civil Code Section 6624 that creates individual lots for which Building Permits may be issued without further subdivision.
"Fiscal Year" means the period commencing on July 1 st of any year and ending the following June 30th.
“Indenture” means the indenture, fiscal agent agreement, resolution or other instrument pursuant to which Bonds are issued, as modified, amended and/or supplemented from time to time, and any instrument replacing or supplementing the same. “Land Use Category” means any of the categories listed in Table 1 of Section D. "Maximum Special Tax" means for each Assessor’s Parcel, the maximum Special Tax, determined in accordance with Section D below, that can be levied by CFD No. 2023-1 in any Fiscal Year on such Assessor’s Parcel.
“Multifamily Property” means all Assessor’s Parcels of Developed Property for which a Building Permit has been issued for the purpose of constructing a building or buildings comprised of attached Residential Units available for rental by the general public, not for sale to an end user, and under common management, as determined by the CFD Administrator. "Non-Residential Property" or “NR” means all Assessor's Parcels for which a building permit(s) was issued or will be issued for a non-residential use. The CFD Administrator shall make the determination if an Assessor’s Parcel is Non-Residential Property.

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"Partial Prepayment Amount" means the amount required to prepay a portion of the Special Tax obligation for an Assessor’s Parcel, as described in Section G.2. "Prepayment Amount" means the amount required to prepay the Special Tax obligation in full for an Assessor’s Parcel, as described in Section G.1.
“Proportionately” means for Taxable Property that is (i) Developed Property, that the ratio of the actual Special Tax levy to the Assigned Special Tax is the same for all Assessor’s Parcels of Developed Property, (ii) Approved Property, that the ratio of the actual Special Tax levy to the Maximum Special Tax is the same for all Assessor’s Parcels of Approved Property, and (iii) Undeveloped Property, or Provisional Undeveloped Property, that the ratio of the actual Special Tax levy per Acre to the Maximum Special Tax per Acre is the same for all Assessor’s Parcels of Undeveloped Property, or Provisional Undeveloped Property, as applicable. "Provisional Undeveloped Property" means all Assessor’s Parcels of Taxable Property that would otherwise be classified as Exempt Property pursuant to the provisions of Section F, but cannot be classified as Exempt Property because to do so would be reduce the Acreage of all Taxable Property below the required minimum Acreage set forth in Sections F. "Residential Property" means all Assessor’s Parcels of Developed Property for which a building permit has been issued for purposes of constructing one or more Residential Units. “Residential Unit” or "RU" means a residential unit that is used or intended to be used as a domicile by one or more persons, as determined by the CFD Administrator. An Accessory Dwelling Unit that shares an Assessor’s Parcel with a Single Family Residential Property shall not be considered a Residential Unit for purposes of this RMA. “Single Family Residential Property” means all Assessor’s Parcels of Residential Property other than Multifamily Property.
"Special Tax" or “Special Taxes” means any of the special taxes authorized to be levied within CFD No. 2023-1 pursuant to the Act to fund the Special Tax Requirement. "Special Tax Requirement " means the amount required in any Fiscal Year to pay: (i) the debt service or the periodic costs on all outstanding Bonds due in the Calendar Year that commences in such Fiscal Year, (ii) Administrative Expenses, (iii) the costs associated with the release of funds from an escrow account, (iv) any amount required to replenish any reserve funds established in association with the Bonds, (v) an amount equal to any anticipated shortfall due to Special Tax delinquencies, and (vi) for the collection or accumulation of funds for the acquisition or construction of facilities authorized by CFD No. 2023-1 or the payment of debt services on Bonds anticipated to be issued, provided that the inclusion of such amount does not cause an increase in the levy of Special Tax on Approved Property or Undeveloped Property as set forth in Steps Two or Three of Section E., less (vii) any amounts available to pay debt service or other periodic costs on the Bonds pursuant to the Indenture. "Taxable Property" means all Assessor’s Parcels within CFD No. 2023-1, which are not Exempt Property.
“Taxable Unit” means either a Residential Unit or an Acre. "Tract(s)" means an area of land within a subdivision identified by a particular tract number on a Final Map approved for the subdivision.

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“Trustee” means the trustee, fiscal agent, or paying agent under the Indenture. "Undeveloped Property" means all Assessor’s Parcels of Taxable Property which are not Developed Property, Approved Property, Provisional Undeveloped Property.

B. SPECIAL TAX
Commencing Fiscal Year 2022-2023 and for each subsequent Fiscal Year, the City Council shall levy Special Taxes on all Taxable Property, up to the applicable Maximum Special Tax, to fund the Special Tax Requirement.

C. ASSIGNMENT TO LAND USE CATEGORY FOR SPECIAL TAX
Each Fiscal Year, beginning with Fiscal Year 2022-2023, each Assessor’s Parcel within CFD No. 2023-1 shall be classified as Taxable Property or Exempt Property. In addition, each Assessor’s Parcel of Taxable Property shall be further classified as Developed Property, Approved Property, Undeveloped Property or Provisional Undeveloped Property.

Assessor’s Parcels of Developed Property shall further be classified as Residential Property or Non-Residential Property. Each Assessor’s Parcel of Residential Property shall further be classified as a Single Family Residential Property, or Multifamily Property. Each Assessor’s Parcel of Single Family Residential Property shall be further categorized into Land Use Categories based on its Building Square Footage and assigned to its appropriate Assigned Special Tax rate.

In the event that an Assessor’s Parcel for which one or more Building Permits have been issued and the County has not yet assigned final Assessor’s Parcel Number(s) to the Residential Unit(s) (in accordance with the Final Map or Condominium Plan) on such Assessor’s Parcel, the amount of the Special Tax levy on such Assessor’s Parcel for each Fiscal Year shall be determined as follows: (1) the CFD Administrator shall first determine an amount of the Maximum Special Tax levy for such Assessor’s Parcel, based on the classification of such Assessor’s Parcel as Undeveloped Property; (2) the amount of the Special Tax levy for the Residential Units on such Assessor’s Parcel for which Building Permits have been issued shall be determined based on the Developed Property Special Tax rates and shall be taxed as Developed Property in accordance with Step 1 of Section E below; and (3) the amount of the Special Tax levy on the Taxable Property in such Assessor’s Parcel not subject to the Special Tax levy in clause (2) shall be equal to: (A) the percentage of the Maximum Special Tax rate levied on all other Undeveloped Property multiplied by the total of the amount determined in clause (1), less the amount determined in clause (2).

D. MAXIMUM SPECIAL TAX

1. Developed Property
The Maximum Special Tax for each Assessor’s Parcel of Single Family Residential Property in any Fiscal Year shall be the greater of (i) the Assigned Special Tax or (ii) the Backup Special Tax.

The Maximum Special Tax for each Assessor’s Parcel of Non-Residential or Multifamily Residential Property shall be the applicable Assigned Special Tax described in Table 1 of Section D.

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a. Assigned Special Tax
Each Fiscal Year, each Assessor’s Parcel of Single Family Residential Property, Multifamily Property or Non-Residential shall be subject to an Assigned Special Tax. The Assigned Special Tax applicable to an Assessor's Parcel of Developed Property shall be determined pursuant to Table 1 below.

TABLE 1

ASSIGNED SPECIAL TAX FOR DEVELOPED PROPERTY
FISCAL YEAR 2022-2023
Land Use Category
Taxable
Unit Building Square Footage
Assigned
Special Tax
Per Taxable
Unit

1. Single Family Residential Property RU Less than 1,900 sq. ft $3,228.00

2. Single Family Residential Property RU 1,900 sq. ft to 2,100 sq. ft $3,366.00

3. Single Family Residential Property RU Greater than 2,100 sq. ft $3,564.00

4. Multifamily Property Acre N/A $48,372.00

5. Non-Residential Property Acre N/A $48,372.00
On each July 1, commencing July 1, 2023, the Assigned Special Tax rate for Developed Property shall be increased by two percent (2.00%) of the amount in effect in the prior Fiscal Year.
b. Multiple Land Use Categories
In some instances an Assessor’s Parcel of Developed Property may contain more than one Land Use Type. The Maximum Special Tax levied on an Assessor’s Parcel shall be the sum of the Maximum Special Tax for all Land Use Categories located on the Assessor’s Parcel.

The CFD Administrator’s allocation to each type of property shall be final. c. Backup Special Tax
The Backup Special Tax for an Assessor’s Parcel within a Final Map classified as Single Family Residential Property shall be $3,766 per Residential Unit.

Notwithstanding the foregoing, if all or any portion of the applicable Final Maps and/or condominium plan contained within the boundaries of CFD No. 2023-1 is subsequently changed or modified, then the Backup Special Tax for Single Family Residential Property or Approved Property in such Final Map or condominium plan area that is changed or modified shall be recalculated as follows:

1. Determine the total Backup Special Taxes anticipated to apply to the changed or modified Final Map or condominium plan area prior to the change or modification.

2. The result of paragraph 1 above shall be divided by the total number of Residential Units constructed and/or anticipated to be constructed within such changed or modified Final Map or condominium plan area, as reasonably determined by the CFD Administrator.

The result of paragraph 2 is the Backup Special Tax per Residential Unit which shall be applicable to Assessor’s Parcels of Single Family Residential Property or Approved Property C-7
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in such changed or modified Final Map or condominium plan area contained within the boundaries of CFD No. 2023-1.

Notwithstanding the foregoing, the Backup Special Tax for an Assessor’s Parcel of Developed Property for which a certificate of occupancy has been granted may not be revised.

On each July 1, commencing July 1, 2023, the Backup Special Tax rate shall be increased by two percent (2.00%) of the amount in effect in the prior Fiscal Year.

2. Approved Property
The Maximum Special Tax for each Assessor’s Parcel of Approved Property expected to be classified as Single Family Property shall be the Backup Special Tax computed pursuant to Section D.1.c above.

The Maximum Special Tax for each Assessor’s Parcel of Approved Property expected to be classified as Multifamily Residential Property or Non-Residential Property shall be $48,372 per Acre.

On each July 1, commencing July 1, 2023, the Maximum Special Tax rate for Approved Property shall be increased by two percent (2.00%) of the amount in effect in the prior Fiscal Year.

3. Undeveloped Property and Provisional Undeveloped Property The Maximum Special Tax for each Assessor’s Parcel of Undeveloped Property and Provisional Undeveloped Property that is not Exempt Property shall be equal to the product of $48,372 multiplied by the Acreage of such Assessor’s Parcel.

On each July 1, commencing July 1, 2023, the Maximum Special Tax rate for Undeveloped and Provisional Undeveloped Property shall be increased by two percent (2.00%) of the amount in effect in the prior Fiscal Year.

E. METHOD OF APPORTIONMENT OF THE SPECIAL TAX
Commencing Fiscal Year 2022-2023 and for each subsequent Fiscal Year, the City Council shall levy Special Taxes on all Taxable Property in accordance with the following steps:

Step One: The Special Tax shall be levied Proportionately on each Assessor’s Parcel of Developed Property at up to 100% of the applicable Assigned Special Tax rates in Table 1 to satisfy the Special Tax Requirement.

Step Two: If additional moneys are needed to satisfy the Special Tax Requirement after the first step has been completed, the Special Tax shall be levied Proportionately on each Assessor’s Parcel of Approved Property at up to 100% of the Maximum Special Tax applicable to each such Assessor’s Parcel as needed to satisfy the Special Tax Requirement.

Step Three: If additional moneys are needed to satisfy the Special Tax Requirement after the first two steps have been completed, the Annual Special Tax shall be levied C-8
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Proportionately on each Assessor’s Parcel of Undeveloped Property up to 100% of the Maximum Special Tax applicable to each such Assessor’s Parcel as needed to satisfy the Special Tax Requirement.

Step Four: If additional moneys are needed to satisfy the Special Tax Requirement after the first three steps have been completed, then the Special Tax levy on each Assessor's Parcel of Developed Property for which the Maximum Special Tax is the Backup Special Tax shall be increased Proportionately from the Assigned Special Tax up to 100% of the Backup Special Tax as needed to satisfy the Special Tax Requirement.

Step Five: If additional moneys are needed to satisfy the Special Tax Requirement after the first four steps have been completed, the Special Tax shall be levied Proportionately on each Assessor’s Parcel of Provisional Undeveloped Property up to 100% of the Maximum Special Tax applicable to each such Assessor’s Parcel as needed to satisfy the Special Tax Requirement.

Notwithstanding the above, under no circumstances will the Special Taxes levied in any Fiscal Year against any Assessor’s Parcel of Residential Property as a result of a delinquency in the payment of the Special Tax applicable to any other Assessor’s Parcel be increased by more than ten percent (10%) above the amount that would have been levied in that Fiscal Year had there never been any such delinquency or default.

F. EXEMPTIONS
The City shall classify as Exempt Property, in the following order of priority, (i) Assessor’s Parcels which are owned by, irrevocably offered for dedication, encumbered by or restricted in use by the State of California, Federal or other local governments, including school districts, (ii) Assessor’s Parcels which are used as places of worship and are exempt from ad valorem property taxes because they are owned by a religious organization, (iii) Assessor’s Parcels which are owned by, irrevocably offered for dedication, encumbered by or restricted in use by a homeowners' association, (iv) Assessor’s Parcels with public or utility easements making impractical their utilization for other than the purposes set forth in the easement, (v) Assessor’s Parcels which are privately owned and are encumbered by or restricted solely for public uses, or (vi) Assessor’s Parcels restricted to other types of public uses determined by the City Council, provided that no such classification would reduce the sum of all Taxable Property to less than

9.84 Acres.

Notwithstanding the above, the City Council shall not classify an Assessor’s Parcel as Exempt Property if such classification would reduce the sum of all Taxable Property to less than 9.84 Acres. Assessor's Parcels which cannot be classified as Exempt Property because such classification would reduce the Acreage of all Taxable Property to less than 9.84 Acres will be classified as Provisional Undeveloped Property, and will be subject to Special Tax pursuant to Step Five in Section E.

G. PREPAYMENT OF SPECIAL TAX
The following additional definitions apply to this Section G:
“CFD Public Facilities” means $8,000,000 expressed in 2022 dollars, which shall increase by the Construction Inflation Index on July 1, 2023, and on each July 1 thereafter, or such lower amount (i) determined by the City Council as sufficient to provide the public facilities under the C-9
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authorized bonding program for CFD No. 2023-1, or (ii) determined by the City Council concurrently with a covenant that it will not issue any more Bonds to be supported by Special Tax levied under this Rate and Method of Apportionment. “Construction Fund” means an account specifically identified in the Indenture or functionally equivalent to hold funds, which are currently available for expenditure to acquire or construct public facilities eligible to be financed by CFD No. 2023-1. “Construction Inflation Index” means the annual percentage change in the Engineering News-Record Building Cost Index for the city of Los Angeles, measured as of the Calendar Year which ends in the previous Fiscal Year. In the event this index ceases to be published, the Construction Inflation Index shall be another index as determined by the City that is reasonably comparable to the Engineering News-Record Building Cost Index for the city of Los Angeles. “Future Facilities Costs” means the CFD Public Facilities minus public facility costs available to be funded through existing construction or escrow accounts funded by the Outstanding Bonds, and minus public facility costs funded by interest earnings on the Construction Fund actually earned prior to the date of prepayment.
“Outstanding Bonds” means all previously issued Bonds issued and secured by the levy of Special Tax which will remain outstanding after the first interest and/or principal payment date following the current Fiscal Year, excluding Bonds to be redeemed at a later date with the proceeds of prior prepayments of Special Tax.

1. Prepayment in Full
The Maximum Special Tax obligation may be prepaid and permanently satisfied for (i) Assessor’s Parcels of Developed Property, (ii) Assessor’s Parcels of Approved Property or Undeveloped Property for which a Building Permit has been issued, (iii) Approved Property or Undeveloped Property for which a Building Permit has not been issued and (iv) Assessor’s Parcels of Public Property or Property Owner’s Association Property, or Provisional Undeveloped Property that are not Exempt Property pursuant to Section F. The Maximum Special Tax obligation applicable to an Assessor’s Parcel may be fully prepaid and the obligation to pay the Special Tax for such Assessor’s Parcel permanently satisfied as described herein; provided that a prepayment may be made only if there are no delinquent Special Taxes with respect to such Assessor’s Parcel at the time of prepayment. An owner of an Assessor’s Parcel intending to prepay the Maximum Special Tax obligation for such Assessor’s Parcel shall provide the CFD Administrator with written notice of intent to prepay, and within 5 business days of receipt of such notice, the CFD Administrator shall notify such owner of the amount of the non-refundable deposit determined to cover the cost to be incurred by the CFD in calculating the Prepayment Amount (as defined below) for the Assessor’s Parcel. Within 15 days of receipt of such non-refundable deposit, the CFD Administrator shall notify such owner of the Prepayment Amount for the Assessor’s Parcel. Prepayment must be made not less than 60 days prior to the redemption date for any Bonds to be redeemed with the proceeds of such prepaid Special Taxes.

The Prepayment Amount (defined below) shall be calculated as follows (capitalized terms are defined below):

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Bond Redemption Amount
plus Redemption Premium
plus Future Facilities Amount
plus Defeasance Amount
plus Administrative Fees and Expenses
less Reserve Fund Credit
Equals: Prepayment Amount
The Prepayment Amount shall be determined as of the proposed prepayment date as follows:

1. Confirm that no Special Tax delinquencies apply to such Assessor’s Parcel.

2. For an Assessor’s Parcel of Developed Property, compute the Maximum Special Tax for the Assessor’s Parcel. For an Assessor’s Parcel of Approved Property or Undeveloped Property for which a Building Permit has been issued, compute the Maximum Special Tax for the Assessor’s Parcel as though it was already designated as Developed Property, based upon the Building Permit which has been issued for the Assessor’s Parcel. For an Assessor’s Parcel of Approved Property or Undeveloped Property for which a Building Permit has not been issued, Public Property, Property Owner’s Association Property, or Provisional Undeveloped Property to be prepaid compute the Maximum Special Tax for the Assessor’s Parcel.

3. Divide the Maximum Special Tax derived pursuant to paragraph 2 by the total amount of Special Taxes that could be levied at the Maximum Special Tax at build out of all Assessor’s Parcels of Taxable Property based on the applicable Maximum Special Tax for Assessor’s Parcels of Developed Property not including any Assessor’s Parcels for which the Special Tax obligation has been previously prepaid.

4. Multiply the quotient derived pursuant to paragraph 3 by the principal amount of the Outstanding Bonds to determine the amount of Outstanding Bonds to be redeemed with the Prepayment Amount (the “Bond Redemption Amount”).

5. Multiply the Bond Redemption Amount by the applicable redemption premium, if any, on the Outstanding Bonds to be redeemed (the “Redemption Premium”).

6. Determine the Future Facilities Costs.

7. Multiply the quotient derived pursuant to paragraph 3 by the amount determined pursuant to paragraph 6 to determine the amount of Future Facilities Costs for the Assessor’s Parcel (the “Future Facilities Amount”).

8. Determine the amount needed to pay interest on the Bond Redemption Amount from the first bond interest and/or principal payment date following the current Fiscal Year until the earliest redemption date for the Outstanding Bonds on which Bonds can be redeemed from Special Tax prepayments.

9. Determine the Special Taxes levied on the Assessor’s Parcel in the current Fiscal Year which have not yet been paid.

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10. Determine the amount the CFD Administrator reasonably expects to derive from the investment of the Bond Redemption Amount and the Redemption Premium from the date of prepayment until the redemption date for the Outstanding Bonds to be redeemed with the Prepayment Amount.

11. Add the amounts derived pursuant to paragraphs 8 and 9 and subtract the amount derived pursuant to paragraph 10 (the “Defeasance Amount”).

12. Verify the administrative fees and expenses of the CFD, including the cost of computation of the Prepayment Amount, the cost to invest the Prepayment Amount, the cost of redeeming the Outstanding Bonds, and the cost of recording notices to evidence the prepayment of the Maximum Special Tax obligation for the Assessor’s Parcel and the redemption of Outstanding Bonds (the “Administrative Fees and Expenses”).

13. The reserve fund credit (the “Reserve Fund Credit”) shall equal the lesser of: (a) the expected reduction in the reserve requirement (as defined in the Indenture), if any, associated with the redemption of Outstanding Bonds as a result of the prepayment, or (b) the amount derived by subtracting the new reserve requirement (as defined in the Indenture) in effect after the redemption of Outstanding Bonds as a result of the prepayment from the balance in the reserve fund on the prepayment date, but in no event shall such amount be less than zero.

14. The Prepayment Amount is equal to the sum of the Bond Redemption Amount, the Redemption Premium, the Future Facilities Amount, the Defeasance Amount and the Administrative Fees and Expenses, less the Reserve Fund Credit.

15. From the Prepayment Amount, the Bond Redemption Amount, the Redemption Premium, and Defeasance Amount shall be deposited into the appropriate fund as established under the Indenture and be used to redeem Outstanding Bonds or make debt service payments. The Future Facilities Amount shall be deposited into the Construction Fund. The Administrative Fees and Expenses shall be retained by the CFD.

The Prepayment Amount may be sufficient to redeem other than a $5,000 increment of Bonds.

In such event, the increment above $5,000 or an integral multiple thereof will be retained in the appropriate fund established under the Indenture to be used with the next redemption from other Special Tax prepayments of Outstanding Bonds or to make debt service payments.

As a result of the payment of the current Fiscal Year’s Special Tax levy as determined pursuant to paragraph 9 above, the CFD Administrator shall remove the current Fiscal Year’s Special Tax levy for the Assessor’s Parcel from the County tax roll. With respect to any Assessor’s Parcel for which the Maximum Special Tax obligation is prepaid, the City Council shall cause a suitable notice to be recorded in compliance with the Act, to indicate the prepayment of Maximum Special Tax obligation and the release of the Special Tax lien for the Assessor’s Parcel, and the obligation to pay the Special Tax for such Assessor’s Parcel shall cease.

Notwithstanding the foregoing, no Special Tax prepayment shall be allowed unless the amount of Maximum Special Tax that may be levied on all Assessor’s Parcels of Taxable Property after the proposed prepayment will be at least 1.1 times maximum annual debt service on the Bonds that will remain outstanding after the prepayment plus the estimated annual Administrative Expenses.

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Tenders of Bonds in prepayment of the Maximum Special Tax obligation may be accepted upon the terms and conditions established by the City Council pursuant to the Act. However, the use of Bond tenders shall only be allowed on a case-by-case basis as specifically approved by the City Council.

2. Prepayment in Part
The Maximum Special Tax obligation for an Assessor’s Parcel of Developed Property, Approved Property or Undeveloped Property may be partially prepaid. For purposes of determining the partial prepayment amount, the provisions of Section G.1 shall be modified as provided by the following formula:

PP = ((PE – A) x F) + A
These terms have the following meaning:

PP = Partial Prepayment Amount
PE = the Prepayment Amount calculated according to Section G.1 F = the percent by which the owner of the Assessor’s Parcel(s) is partially prepaying the Maximum Special Tax obligation
A = the Administrative Fees and Expenses determined pursuant to Section G.1 The owner of an Assessor’s Parcel who desires to partially prepay the Maximum Special Tax obligation for the Assessor’s Parcel shall notify the CFD Administrator of (i) such owner’s intent to partially prepay the Maximum Special Tax obligation, (ii) the percentage of the Maximum Special Tax obligation such owner wishes to prepay, and (iii) the company or agency that will be acting as the escrow agent, if any. Within 5 days of receipt of such notice, the CFD Administrator shall notify such property owner of the amount of the non-refundable deposit determined to cover the cost to be incurred by the CFD in calculating the amount of a partial prepayment. Within 15 business days of receipt of such non-refundable deposit, the CFD Administrator shall notify such owner of the amount of the Partial Prepayment Amount for the Assessor’s Parcel. A Partial Prepayment Amount must be made not less than 60 days prior to the redemption date for the Outstanding Bonds to be redeemed with the proceeds of the Partial Prepayment Amount.

With respect to any Assessor’s Parcel for which the Maximum Special Tax obligation is partially prepaid, the CFD Administrator shall (i) distribute the Partial Prepayment Amount as provided in Paragraph 15 of Section G.1, and (ii) indicate in the records of the CFD that there has been a Partial Prepayment for the Assessor’s Parcel and that a portion of the Maximum Special Tax obligation equal to the remaining percentage (1.00 - F) of the Maximum Special Tax obligation will continue to be levied on the Assessor’s Parcel pursuant to Section E.

H. TERMINATION OF SPECIAL TAX
For each Fiscal Year that any Bonds are outstanding the Special Tax shall be levied on all Assessor’s Parcels subject to the Special Tax. The Special Tax shall cease not later than the 2069-2070 Fiscal Year, however, Special Tax will cease to be levied in an earlier Fiscal Year if the CFD Administrator has determined (i) that all the required interest and principal payments on the CFD No. 2023-1 Bonds have been paid; (ii) all authorized facilities of CFD No. 2023-1 have been acquired and all reimbursements to the developer have been paid, (iii) no delinquent C-13
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Special Tax remain uncollected and (iv) all other obligations of CFD No. 2023-1 have been satisfied.

I. MANNER OF COLLECTION
The Special Tax shall be collected in the same manner and at the same time as ordinary ad valorem property taxes, provided, however, that CFD No. 2023-1 may collect Special Taxes at a different time or in a different manner if necessary to meet its financial obligations, and may covenant to foreclose and may actually foreclose on delinquent Assessor’s Parcels as permitted by the Act.

J. APPEALS OF SPECIAL TAXES
Any taxpayer may file a written appeal of the Special Taxes on his/her Assessor’s Parcel(s) with the CFD Administrator, provided that the appellant is current in his/her payments of Special Taxes. During pendency of an appeal, all Special Taxes previously levied must be paid on or before the payment date established when the levy was made. The appeal must specify the reasons why the appellant claims the Special Tax is in error. The CFD Administrator shall review the appeal, meet with the appellant if the CFD Administrator deems necessary, and advise the appellant of its determination. If the CFD Administrator agrees with the appellant, the CFD Administrator shall grant a credit to eliminate or reduce future Special Taxes on the appellant’s Assessor’s Parcel(s). No refunds of previously paid Special Taxes shall be made.

The CFD Administrator shall interpret this Rate and Method of Apportionment and make determinations relative to the annual levy and administration of the Special Taxes and any taxpayer who appeals, as herein specified.

4866-1141-0239v5/022042-0046
RESOLUTION NO. _________

RESOLUTION OF INTENTION OF THE CITY COUNCIL OF THE

CITY OF THE CITY OF LAKE ELSINORE TO INCUR BONDED
INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $9,000,000
WITHIN PROPOSED COMMUNITY FACILITIES DISTRICT NO.
2023-1 OF THE CITY OF LAKE ELSINORE (LAKESIDE)
Whereas, the City Council of the City of Lake Elsinore (the “City Council”) upon receipt of a petition as provided in Section 53318 of the Government Code of the State of California instituted proceedings to form Community Facilities District No. 2023-1 of the City of Lake Elsinore (Lakeside) (“Community Facilities District No. 2023-1” or the “District”) pursuant to the Mello-Roos Community Facilities Act of 1982 (the “Act”), as amended, pursuant to Resolution No. 2023-___ (the “Resolution of Intention to Establish”) adopted by the City Council on the date hereof to finance (1) the purchase, construction, modification, expansion, improvement and/or rehabilitation of public facilities identified in Attachment “A” hereto and incorporated herein by this reference, including all furnishings, equipment and supplies related thereto (collectively, the “Facilities”) and (2) the incidental expenses to be incurred in financing the Facilities and forming and administering the District (the “Incidental Expenses”); and Whereas, the City Council estimates that the amount required to finance the Facilities and Incidental Expenses is approximately $9,000,000; and
Whereas, in order to finance the Facilities and Incidental Expenses, the City Council intends to authorize the issuance of bonds in the maximum aggregate principal amount of $9,000,000, the repayment of which is to be secured by special taxes levied in accordance with Section 53328 of the Act on all property in the proposed Community Facilities District No. 2023-1, other than those properties exempted from taxation in the rate and method of apportionment set forth in Attachment “C” to the Resolution of Intention to Establish; and Whereas, the City Council adopted Resolution No. 2023-4 on January 10, 2023 relating to the intention to incur bonded indebtedness of the District and the City Council desires to rescind Resolution No. 2023-4; and

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:

Section 1. The above recitals are true and correct.

Section 2. It is necessary to incur bonded indebtedness within the boundaries of proposed Community Facilities District No. 2023-1 in an amount not to exceed $9,000,000 to finance the costs of the Facilities and Incidental Expenses, as permitted by the Act.

Section 3. The indebtedness will be incurred for the purpose of financing the costs of the Facilities and the Incidental Expenses, including, but not limited to, the funding of reserve funds for the bonds, the financing of costs associated with the issuance of the bonds and all other costs and expenses necessary to finance the Facilities which are permitted to be financed pursuant to the Act.
2 4866-1141-0239v5/022042-0046
Section 4. It is the intent of the City Council to authorize the sale of bonds in one or more series, in the maximum aggregate principal amount of $9,000,000 and at a maximum interest rate not in excess of 12 percent per annum, or a higher rate not in excess of the maximum rate permitted by law at the time that the bonds are issued. The term of the bonds of each series shall be determined pursuant to a resolution of this City Council acting in its capacity as the legislative body of the District authorizing the issuance of the bonds of such series, but such term shall in no event exceed 35 years from the date of issuance of the bonds of such series, or such longer term as is then permitted by law.

Section 5. A public hearing (the “Hearing”) on the proposed issuance of bonded indebtedness shall be held at 7:00 p.m. or as soon thereafter as practicable, on March 28, 2023, at the City Cultural Center, 183 North Main Street, Lake Elsinore, California.

Section 6. At the time and place set forth in this Resolution for the Hearing, any interested persons, including all persons owning land or registered to vote within proposed Community Facilities District No. 2023-1, may appear and be heard.

Section 7. The City Clerk is hereby directed to publish a notice (the “Notice”) of the Hearing pursuant to Section 6061 of the Government Code in a newspaper of general circulation published in the area of the proposed Community Facilities District No. 2023-1. Such publication shall be completed at least seven days prior to the date of the Hearing. The City Clerk is further directed to mail a copy of the Notice to each of the landowners within the boundaries of proposed Community Facilities District No. 2023-1 at least 15 days prior to the Hearing.

Section 8. Resolution No. 2023-4 is hereby rescinded and shall be of no further effect.

Section 9. This Resolution shall be effective upon its adoption.

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

AYES:

NOES:

ABSENT:

ABSTAIN:
________________________________
Candice Alvarez, MMC
City Clerk
A-1
4866-1141-0239v5/022042-0046

ATTACHMENT A
Types of Facilities
to Be Financed by Community
Facilities District No. 2023-1 of the City of Lake Elsinore (Lakeside) The proposed types of public facilities and expenses to be financed by the District include:

Capitalized terms used and not defined herein shall have the meaning set forth in the Rate and Method of Apportionment of Special Taxes for the District.

MACY
ST

WINDOVER CT

SERENA WAY

TILLER LN
HILL
ST

FAIRVIEW ST

CALIFORNIA ST
ULLA
LN

RIVERSIDE
DR

GRAND AVE
·|}þ74
^_

LAKESHOREDR
3RD
ST

N ICHOL S R D

MACY ST
MCVICK
E

R CANYON PARKRD
MAIN
ST
LASHST

RIVERSIDE DR

GUNNERSON ST

ROLANDO RD

OHIO ST

AMBER LN

PASADENA ST

SKYLINEDR
LAKEST
§¨¦15
·|}þ74
CFD NO. 2023-1 (LAKESIDE)

PROJECT MAP
4877-7611-1936v4/022042-0046

REIMBURSEMENT AGREEMENT

RE PROPOSED
COMMUNITY FACILITIES DISTRICT NO. 2023-1

OF THE CITY OF LAKE ELSINORE (LAKESIDE)

THIS REIMBURSEMENT AGREEMENT RE PROPOSED COMMUNITY FACILITIES DISTRICT NO. 2023-1 OF THE CITY OF LAKE ELSINORE (LAKESIDE) (the “Agreement”) dated as of February 1, 2023, is entered into by and between the City of Lake Elsinore, a general law city organized and existing under the laws and constitution of the State of California (the “City”), and Tri Pointe Homes IE-SD, Inc., a California corporation (the “Owner”).

R E C I T A L S :

A. The Owner own approximately 34.81 acres of land described in Exhibit A attached hereto (the “Property”) for which the Owner desires to include within proposed Community Facilities District No. 2023-1 of the City of Lake Elsinore (Lakeside) (the “District”) to be established by the City pursuant to the Mello-Roos Community Facilities Act of 1982 (Government Code Section 53311 et seq.) (the “Act”).

B. The City and the Owner are desirous of entering into this Agreement in order to provide a mechanism by which the Owner may advance certain costs related to the cost of formation of the District, and to provide that such District, if formed, will reimburse the Owner for the amounts advanced hereunder.

AGREEMENT
NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereto agree as follows:

1. Recitals. Each of the above recitals is incorporated herein and is true and correct.

2. Potential Formation of the District and Issuance of Bonds. (a) At the request of the Owner, the City will undertake to form the District.

The City will retain, at the Owner’s expense, the necessary consultants to analyze the proposed formation of the District and issuance of bonds, including an engineer, special tax consultant, financial advisor, bond counsel, market absorption consultant, appraiser and other consultants deemed necessary by the City. In addition, City staff time spent in connection with the formation of the District and the issuance of bonds shall be at Owner’s expense. (b) In order to begin the process of analyzing the potential formation of the District, the Owner has advanced to the City a sum totaling $50,000. From time to time, the Owner shall make additional advances to the City within 15 days following receipt from the City of a request for an additional advance to cover the costs of forming the District and/or issuing bonds. In the event the Owner does not deliver the requested amount to the City within such 15-day period, the City will have no obligation to proceed with the analysis or bond issue unless and until such additional advance is received. The Owner shall have the right to notify the City at any time, in writing, of its intention to abandon the formation of the District or the issuance of bonds. Upon receipt of such notice, the City shall instruct its consultants to cease work as soon 2 4877-7611-1936v4/022042-0046
as practicable. The Owner shall be responsible to pay all costs and expenses incurred by the City or any City consultant or advisor prior to the date on which the City’s consultants are notified of the Owner’s notice of abandonment. Notwithstanding a decision of the Owner to abandon the formation of the District or the issuance of bonds, the City may, in its sole discretion, elect to proceed with formation of the District and/or the issuance of bonds with funds other than those of the Owner; provided, however, that, in executing this Agreement, the Owner shall not be deemed to have waived their right to object to the formation of the District or the issuance of bonds.
(c) The City will provide to the Owner on request a summary of how the advances have been spent and the unexpended balance remaining. The amounts advanced by the Owner will be reimbursable to the Owner, without interest, from the proceeds of bonds issued by the District when and if the District is formed. In the event that bonds are not issued to provide a source of reimbursement to the Owner, the City shall have no liability to the Owner to reimburse them for any of amounts previously advanced by the Owner and expended by the City in accordance with this Agreement.

3. Reimbursement Procedure. The City shall return any funds which have been advanced by the Owner which are not expended on the purposes set forth in Section 2 above.

Such returned funds shall be without interest.

4. Abandonment of CFD Formation Process. The Owner understands that any formation of the District shall be in the sole discretion of the City. No provision of this Agreement shall be construed as a promise, warranty or agreement by the City to form the District, to annex the Property to any other district or improvement area of the City or to issue any bonds. The City shall have no liability to Owner for its decision not to form the District or issue bonds.

5. Indemnification and Hold Harmless. The Owner hereby assumes the defense of, and indemnifies and saves harmless, jointly and severally, the City and each of its officers, directors, employees and agents, from and against all actions, damages, claims, losses or expenses of every type and description to which they may be subjected or put, by reason of, or arising out of any acts or omissions taken by the Owner or any of the Owner’s officers, employees, contractors and agents with respect to the formation of the District.

6. Notices. Any notice to be provided pursuant to this Agreement shall be delivered to the following addresses:

Owner Tri Pointe Homes IE-SD, Inc.
1250 Corona Pointe Court, Suite 600
Corona, California 92879
Attention: Chris Willis
Telephone: (951) 396-0426
Email: [email protected]
City: City of Lake Elsinore
130 South Main Street
Lake Elsinore, CA 92530
Attn: City Manager
Telephone: (951) 674-3124
Email: [email protected]
3 4877-7611-1936v4/022042-0046
With a copy to: Stradling Yocca Carlson & Rauth
660 Newport Center Drive, Suite 1600
Newport Beach, CA 92660
Attention: Brian Forbath, Esq.

Telephone: (949) 725-4193
Email: [email protected]
Each party may change its address for delivery of notice by delivering written notice of such change of address to the other party.

7. Assignment. The Owner may assign its interest in this Agreement at any time provided, however, that the Owner shall provide written evidence of any assignment to the City.

8. Severability. If any part of this Agreement is held to be illegal or unenforceable by a court of competent jurisdiction, the remainder of this Agreement shall be given effect to the fullest extent permitted by law.

9. Entire Agreement. This Agreement contains the entire agreement between the parties with respect to the matters provided for herein.

10. Amendments. This Agreement may be amended or modified only by written instrument signed by all parties.

11. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original.

12. Governing Law. This Agreement and any dispute arising hereunder shall be governed by and interpreted in accordance with the laws of the State of California.

13. No Third Party Beneficiaries. No person or entity shall be deemed to be a third party beneficiary hereof, and nothing in this Agreement (either express or implied) is intended to confer upon any person or entity, other than the City and the Owner, any rights, remedies, obligations or liabilities under or by reason of this Agreement.

14. Singular and Plural; Gender. As used herein, the singular of any word includes the plural, and terms in the masculine gender shall include the feminine.

15. Termination. This Agreement shall terminate and be of no further force and effect on December 1, 2027 unless expressly amended by the parties; provided, however, that the Owner’s obligations under Section 5 shall survive the termination and the City’s obligation to provide reimbursement in accordance with Section 3 for expenses incurred prior to the termination date shall also survive termination.

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4877-7611-1936v4/022042-0046
IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first above written.

CITY OF LAKE ELSINORE, a political subdivision
of the State of California
By:

City Manager
ATTEST:

By:

Candice Alvarez, City Clerk
TRI POINTE HOMES IE-SD, INC., a
California corporation
By:____________
Michael C. Taylor, President

APPROVED AS TO FORM:

CITY ATTORNEY
By:

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4877-7611-1936v4/022042-0046

EXHIBIT A

DESCRIPTION OF PROPERTY
Real property in the City of Lake Elsinore, County of Riverside, State of California, described as follows:

Riverside County Assessor Parcel Nos.:
379-060-005
379-060-022
379-060-027

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REPORT TO CITY COUNCIL
To: Honorable Mayor or Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Remon Habib, City Engineer
Date: February 14, 2023
Subject: Professional Services Agreements with ALTA California Geotechnical Inc. and LOR Geotechnical Group Inc. for On-call Geotechnical Services Recommendation
Approve and authorize the City Manager to execute Professional Services Agreements with ALTA California Geotechnical Inc. and LOR Geotechnical Group Inc. to provide on-call geotechnical testing services in an amount not to exceed $60,000 each in such final form as approved by the City Attorney.

Background
The Engineering Department of the City of Lake Elsinore, as a part of the construction activities related to CIP Pavement Rehabilitation Projects, requires specific expertise related to soils and material testing. Because the need for these services are dependent on the activity level of CIP projects, the City uses contract engineering firms that have the flexibility to provide staff to accommodate the fluctuation in workload.

Discussion
The City solicited Request for Qualifications (RFQ) to provide geotechnical testing services as a part of the City’s development approval process to 4 firms. After reviewing all proposals, staff chose 2 candidates.

The proposals provided extensive information about the company’s qualifications, personnel availability, and experience providing geotechnical testing services.

Although all the firms are technically qualified, staff was able to reduce the candidate pool from four companies to two based on their prior experience and approach to serving the City’s needs. The final determination was based on prior experience and reference verification.

Agreements for On-Call Geotechnical Services

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Each firm will have a contract amount of not-to-exceed per fiscal year as listed below.

LOR Geotechnical Group Inc (LOR) –$60,000.00
ALTA California Geotechnical Inc. (ALTA)–$60,000.00
The length of the contract will be one year, with up to two additional twelve (12) month renewal terms subject to review by the City Manager.

Fiscal Impact
Agreements will be funded through the City’s adopted CIP program.

Attachments
Attachment 1 - ALTA Agreement
Exhibit A - ALTA Fee Schedule and SOQ
Attachment 2 - LOR Agreement
Exhibit A - LOR Fee Schedule and SOQ

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AGREEMENT FOR CONTRACTOR SERVICES
Alta California Geotechnical, Inc.

ON-CALL GEOTECHNICAL SERVICES
This Agreement for Contractor Services (On-Call) (the “Agreement”) is made and entered into as of February 14, 2023 by and between the City of Lake Elsinore , a municipal corporation (the “City”) and Alta California Geotechnical, Inc., a Corporation (the “Contractor”).

RECITALS
A. The City has determined that it requires the following services:

Engineering On-call Geotechnical Testing Services
B. The City has prepared a request for a proposals and Contractor has submitted to City a proposal, dated January 12, 2023, both of which are attached hereto as Exhibit A (collectively, the "Contractor's Proposal") and incorporated herein, to provide services and related work to the City pursuant to the terms of this Agreement.

C. Contractor possesses the skill, experience, ability, background, certification and knowledge to perform the services and related work described in this Agreement on the terms and conditions Agreement.

AGREEMENT

1. Scope of Services. Contractor shall perform the services and related work described in Contractor's Proposal (Exhibit A). Contractor shall provide such services and related work at the time, place, and in the manner specified in Contractor's Proposal (Exhibit A), subject to the direction of the City through its staff that it may provide from time to time. Contractor acknowledges that the Scope of Services provides for 24 hour-a-day, 7 day-a-week, on-call and minor construction support on an as needed basis.

2. Time of Performance .
a. Time of Essence . Time is of the essence in the performance of this Agreement. The time for completion of the services and related work to be performed by Contractor is an essential condition of this Agreement. Contractor shall prosecute regularly and diligently the services and related work contemplated pursuant to this Agreement consistent with Contractor 's Proposal (Exhibit A) and shall provide, furnish and pay all labor, materials, necessary tools, expendable equipment, and all taxes, utility and transportation services required to perform such the services and related work.
b. Performance Schedule . Contractor shall commence the services and related work pursuant to this Agreement upon receipt of a written notice to proceed and shall perform all services and related work within the time period(s) established in the Contractor's Proposal (Exhibit A). When requested by Contractor , extensions to the time period(s) specified may be approved in writing by the City Manager .

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c. Term and Compliance with Task/Work Order System. Unless earlier terminated as provided elsewhere in this Agreement , this Agreement shall continue in full force and effect for a period commencing on February 14, 2023 and ending June 30, 2024. The City may, at its sole discretion, extend the term of this Agreement on a 12-month basis not to exceed 2 additional twelve (12) month renewal terms by giving written notice thereof to Contractor not less than thirty (30) days before the end of the contract term, such notice to be exercised by the City Manager.

Contractor hereby agrees and acknowledges that any and all work or services performed pursuant to this Agreement shall be based upon the issuance of a Task/Work Order by the City. Contractor acknowledges that it is not guaranteed any minimum or specific amount of work or services as all work or services shall be authorized through a Task/Work Order issued by the City.

3. Compensation. Compensation to be paid to Contractor shall be in accordance with the fees set forth in Contractor's Proposal (Exhibit A), which is attached hereto and incorporated herein by reference . In no event shall Contractor's annual compensation exceed Sixty Thousand dollars ($60,000 ) without additional written authorization from the City. Notwithstanding any provision of Contractor's Proposal to the contrary, out of pocket expenses set forth in Exhibit A shall be reimbursed at cost without an inflator or administrative charge. Payment by City under this Agreement shall not be deemed a waiver of defects, even if such defects were known to the City at the time of payment.

4. Method of Payment. Contractor shall promptly submit billings to the City describing the services and related work performed during the preceding month to the extent that such services and related work were performed . Contractor's bills shall be segregated by project task, if applicable, such that the City receives a separate accounting for work done on each individual task for which Contractor provides services. Contractor 's bills shall include a brief description of the services performed, the date the services were performed, the number of hours spent and by whom, and a description of any reimbursable expenditures. City shall pay Contractor no later than forty-five (45) days after receipt of the monthly invoice by City staff.

5. Background Checks . At any time during the term of this Agreement, the City reserves the right to make an independent investigation into the background of Contractor’s personnel who perform work required by this Agreement, including but not limited to their references, character, address history, past employment, education, social security number validation, and criminal or police records, for the purpose of confirming that such personnel are lawfully employed, qualified to provide the subject service or pose a risk to the safety of persons or property in and around the vicinity of where the services will be rendered or City Hall. If the City makes a reasonable determination that any of Contractor’s prospective or then current personnel is deemed objectionable, then the City may notify Contractor of the same.

Contractor shall not use that personnel to perform work required by this Agreement, and if necessary, shall replace him or her with a suitable worker.

6. Suspension or Termination.
a. The City may at any time, for any reason , with or without cause, suspend or terminate this Agreement, or any portion hereof , by serving upon the Contractor at least ten (10) days prior written notice. Upon receipt of such notice, the Contractor shall immediately cease all work under this Agreement , unless the notice provides otherwise . If the City suspends or terminates a portion of this Agreement, such suspension or termination shall not make void or invalidate the remainder of this Agreement.
b. In the event this Agreement is terminated pursuant to this Section, the City shall pay to Contractor the actual value of the work performed up to the time of termination, provided that the work performed is of value to the City. Upon termination of the Agreement pursuant to this

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Section, the Contractor will submit an invoice to the City, pursuant to Section entitled "Method of Payment" herein.

7. Plans, Reports, Documents
a. Ownership of Documents . All plans, studies, documents and other writings prepared by and for Contractor, its officers, employees and agents and subcontractors in the course of implementing this Agreement, except working notepad internal documents, shall become the property of the City upon payment to Contractor for such work, and the City shall have the sole right to use such materials in its discretion without further compensation to Contractor or to any other party. Contractor shall, at Contractor's expense, provide such reports, plans, studies, documents and other writings to City upon written request. City shall have sole determination of the public’s rights to documents under the Public Records Act, and any third-party requests of Contractor shall be immediately referred to City, without any other actions by Contractor. b. Licensing of Intellectual Property. This Agreement creates a nonexclusive and perpetual license for City to copy, use, modify, reuse, or sublicense any and all copyrights , designs, and other intellectual property embodied in plans, specifications, studies, drawings, estimates, and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings or data magnetically or otherwise recorded on computer diskettes, which are prepared or caused to be prepared by Contractor under this Agreement ("Documents & Data"). Contractor shall require that all subcontractors agree in writing that City is granted a nonexclusive and perpetual license for any Documents & Data the subcontractor prepares under this Agreement. Contractor represents and warrants that Contractor has the legal right to license any and all Documents & Data. Contractor makes no such representation and warranty in regard to Documents & Data, which were prepared by design professionals other than Contractor or provided, to Contractor by the City. City shall not be limited in any way in its use of the Documents & Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at City's sole risk. c. Confidentiality. All ideas, memoranda, specifications, plans, procedures, drawings, descriptions, computer program data, input record data, written information, and other Documents & Data either created by or provided to Contractor in connection with the performance of this Agreement shall be held confidential by Contractor . Contractor shall not, without the prior written consent of City, use such materials for any purposes other than the performance of the services under this Agreement. Nor shall such materials be disclosed to any person or entity not connected with the performance of the services under this Agreement. Nothing furnished to Contractor, which is otherwise known to Contractor or is generally known, or has become known , to the related industry shall be deemed confidential. Contractor shall not use City's name or insignia , photographs relating to project for which Contractor's services are rendered , or any publicity pertaining to the Contractor's services under this Agreement in any magazine, trade paper, newspaper, television or radio production or other similar medium without the prior written consent of City.

8. Contractor's Books and Records .
a. Contractor shall maintain any and all ledgers, books of account, invoices, vouchers, canceled checks, and other records or documents evidencing or relating to charges for services, or expenditures and disbursements charged to City for a minimum period of three (3) years, or for any longer period required by law, from the date of final payment to Contractor to this Agreement.
b. Contractor shall maintain all documents and records which demonstrate performance under this Agreement for a minimum period of three (3) years, or for any longer period

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Lake Elsinore City CouncilFebruary 14, 2023

Lake Elsinore City Council
February 14, 2023