Agenda packet — Lake Elsinore City Council, December 10, 2024 (part 5 of 6)

REPORT TO SUCCESSOR AGENCY
To: Honorable Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Candice Alvarez, MMC, Secretary
Date: December 10, 2024
Subject: Minutes of the Regular Successor Agency Meeting of November 12, 2024 Recommendation
Approve the Minutes.

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

November 12, 2024
Closed Session: 6:00 PM
Public Session: 7:00 PM
Cultural Center
183 N. Main Street
Lake Elsinore, CA 92530

CALL TO ORDER
The Regular Meeting of the City Council was called to order at 6:00 p.m.

ROLL CALL

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

Absent: 0 - None

PUBLIC COMMENTS FOR CLOSED SESSION ITEMS
There were no speakers.

CLOSED SESSION - 6:00 P.M.

A. CONFERENCE WITH LEGAL COUNSEL--EXISTING LITIGATION
(Paragraph (1) of subdivision (d) of Section 54956.9)
Name of case: DS & RS Investment LLC, et al. v. City of Lake Elsinore, et al.; Riverside Superior Court Case No. CVME2402627
B. CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Gov’t Code Section 54956.8)
Property: APNs: 374-072-013
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Ignacio Munguia Rodriguez and Blanca Delgado
Under negotiation: Price and terms of payment

RECONVENE/CALL TO ORDER
The Regular Meeting of the City Council reconvened and the Regular Meeting of the Successor Agency was called to order at 7:00 p.m.

City Council Minutes - Draft November 12, 2024
City of Lake Elsinore Page 2

PLEDGE OF ALLEGIANCE
Mayor Manos led the Pledge of Allegiance.

ROLL CALL

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

Absent: 0 - None

CLOSED SESSION REPORT
City Attorney Leibold reported that both items were discussed. The City Council directed staff to reject the claim for Item No. A, and there was no reportable action taken on Item No. B.

PRESENTATIONS/CEREMONIALS
1) Recognition of Manuel Acuna for Selection to Participate in the Honor Flight Program
Present a Certificate of Recognition.

Mayor Manos presented the Certificate to Manuel Acuna.

PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 1 MINUTE
There were no speakers.

CITY COUNCIL CONSENT CALENDAR
A motion was made by Mayor Pro Tem Tisdale, seconded by Council Member Johnson to approve the City Council Consent Calendar. The motion carried by the following vote:

Aye: 5 Council Members Sheridan, Johnson, and Magee; Mayor Pro Tem Tisdale; and Mayor Manos
Nay: 0 None
2) Minutes of the Regular City Council Meeting of October 22, 2024 Approve the Minutes.

This item was approved on the City Council Consent Calendar. 3) CC Warrant Report Dated September 23, 2024 to September 29, 2024 Receive and File.

This item was approved on the City Council Consent Calendar.

City Council Minutes - Draft November 12, 2024
City of Lake Elsinore Page 3
4) CC Warrant Report Dated September 30, 2024 to October 06, 2024 Receive and File.

This item was approved on the City Council Consent Calendar. 5) CC Warrant Report Dated October 07, 2024 to October 13, 2024 Receive and File.

This item was approved on the City Council Consent Calendar. 6) CC Warrant Report Dated October 10, 2024 to October 16, 2024 Receive and File.

This item was approved on the City Council Consent Calendar. 7) CC Investment Report for September 2024
Receive and file the Investment Report for September 2024.

This item was approved on the City Council Consent Calendar. 8) Certificate of Distinguished Budget Presentation Award for the Fiscal Year Beginning July 1, 2024
Receive and file the Certificate of Distinguished Budget Presentation for the Fiscal Year Beginning July 1, 2024
This item was approved on the City Council Consent Calendar. 9) Community Development Block Grant (C.D.B.G.) Allocation for Fiscal Year 2025- 2026 and Community Support Allocation for Fiscal Year 2024-2025

1. Adopt the Community Development Block Grant (C.D.B.G.) Program for Fiscal Year 2025-2026;

2. Approve the submittal of the City's program to the County of Riverside; and

3. Approve allocation of Community Support Funds.

This item was approved on the City Council Consent Calendar. 10) Approval of Community Development Block Grant (CDBG) Supplemental Agreement 2024 - 2025 Program Year
Approve and authorize the Mayor to execute the Supplemental Agreement between the County of Riverside and the City of Lake Elsinore for the Use of 2024 – 2025 Community Development Block Grant Funds.

This item was approved on the City Council Consent Calendar.

City Council Minutes - Draft November 12, 2024
City of Lake Elsinore Page 4
11) Request by Property Owner That City Quitclaim Any Interest in Real Property Within Previous Alignment of Highway 74
Authorize the City Manager to execute Quitclaim Deeds concerning the Subject Properties in favor of the Property Owner and take such other actions necessary to effectuate the dismissal of the City from the quiet title action concerning the Subject Properties, including executing a settlement agreement, in such forms as approved by the City Attorney.

This item was approved on the City Council Consent Calendar. 12) Authorization to Apply for Additional Unclaimed Funds Under the Community Development Block Grant (CDBG) Set Aside Funds for Project Homekey Projects
Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, APPROVING AN AMENDMENT TO THE STANDARD AGREEMENT ISSUED UNDER THE 2020 COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM CORONAVIRUS RESPONSE (CDBG-CV).

This item was approved on the City Council Consent Calendar. 13) Update to Winterfest Road Closures for the 2024 Event Approve amended temporary road closures for the Winterfest Parade and Event in Historic Downtown and neighboring roads for the December 7, 2024 event, as identified in the attached traffic plans, and allow for changes as necessary and approved by the City Engineer.

This item was approved on the City Council Consent Calendar. 14) Professional Services Agreement with SMAX Entertainment LLC Approve and authorize the City Manager to execute an agreement with SMAX Entertainment LLC in an amount not to exceed (1) $16,000 for entertainment consulting services and (2) $66,000 for artist fees and related booking fees, in such final form as approved by the City Attorney, and further authorize the City Manager to execute change orders not exceeding $6,600 for uncertainties and adjustments.

This item was approved on the City Council Consent Calendar. 15) Construction Contract Award for Marina Landscape, Inc. for the I15 Main Street Interchange Landscape Improvement Project CIP Z10094
Award and authorize the City Manager to execute a Public Works Construction Agreement with Marina Landscape, Inc. in the amount of $1,356,549.57 for the I-15 Main Street Interchange Landscape Improvement Project CIP No. Z10094, authorize the City Manager to execute change orders not to exceed a 10% contingency amount of $135,654.96, and authorize the City Clerk to record the Notice of Completion once it is determined the work is complete and the improvements are accepted into the Citymaintained roadway network.

This item was approved on the City Council Consent Calendar.

City Council Minutes - Draft November 12, 2024
City of Lake Elsinore Page 5
16) Professional Design Services Agreement with KOA Corporation for Final Engineering Plans, Specifications, and Cost Estimate, and Construction Support for Highway Safety Improvement Program Cycle 11 Project Approve and authorize the City Manager to execute the agreement for Professional Design Services with KOA Corporation (KOA) in an amount $79,989 plus an additional 10% contingency, in such final form as approved by the City Attorney.

This item was approved on the City Council Consent Calendar.

SUCCESSOR AGENCY CONSENT CALENDAR
A motion was made by Agency Member Johnson, seconded by Agency Member Sheridan to approve the Successor Agency Consent Calendar with the amounts for Item Nos. 22 and 23 being changed to $154,010 and $110,400, respectively, to include prevailing wage requirements. The motion carried by the following vote:

Aye: 5 Agency Members Sheridan, Johnson, and Magee; Vice Chair Tisdale; and Chair Manos
Nay: 0 None
17) Minutes of the Regular Successor Agency Meeting of October 22, 2024 Approve the Minutes.

This item was approved on the Successor Agency Consent Calendar. 18) SA Warrant Report Dated September 23, 2024 to September 29, 2024 Receive and File.

This item was approved on the Successor Agency Consent Calendar. 19) SA Warrant Report Dated September 30, 2024 to October 06, 2024 Receive and File.

This item was approved on the Successor Agency Consent Calendar. 20) SA Warrant Report Dated October 10, 2024 to October 16, 2024 Receive and File.

This item was approved on the Successor Agency Consent Calendar. 21) SA Investment Report for September 2024
Receive and file.

This item was approved on the Successor Agency Consent Calendar.

City Council Minutes - Draft November 12, 2024
City of Lake Elsinore Page 6
22) Public Works Construction Agreement with Sports Field Services for the Stadium Facility Project, CIP Project No. RDA Z20003
Award and authorize the Executive Director to execute a Public Works Construction Agreement with Sports Field Services in an amount not to exceed $128,770.00 for the baseball field removal and field preparation for new sod Sports Field Services in substantially the form attached and in such final form as approved by the Successor Agency Counsel, authorize the Executive Director to execute change orders not to exceed the 10% contingency amount of $12,877.00, and authorize the Agency Secretary to record the Notice of Completion once the work is complete.

This item was approved on the Successor Agency Consent Calendar. 23) Public Works Construction Agreement with West Coast Turf for the Stadium Facility Project, Cip Project No. RDA Z20003
Award and authorize the Executive Director to execute a Public Works Construction Agreement with West Coast Turf in an amount not to exceed $101,200.00 for the baseball field sod replacement in substantially the form attached and in such final form as approved by the Successor Agency Counsel, authorize the Executive Director to execute change orders not to exceed the 10% contingency amount of $10,120.00, and authorize the Agency Secretary to record the Notice of Completion once the work is complete.

This item was approved on the Successor Agency Consent Calendar.

PUBLIC COMMENTS - NON-AGENDIZED ITEMS - THREE MINUTES
Angela Mayfield was called to speak.

CITY MANAGER'S COMMENTS
City Manager Simpson invited Assistant Administrative Services Director Rafferty and Domenico to share a presentation regarding Item No. 8 on the agenda, highlighting the City’s receipt of the Certificate of Distinguished Budget Presentation for the Fiscal Year beginning July 1, 2024.

CITY ATTORNEY COMMENTS
City Attorney Leibold had no comments.

CITY COUNCIL COMMENTS/REPORTS ON MEETINGS ATTENDED
Council Member Magee provided an update on the Lake levels; invited the community to attend the SCCA LA Chapter Autocross November 16-17, 2024 at Diamond Stadium; and shared information regarding the Lake Elsinore Motorsports Park.

Council Member Johnson provided updates from the Homeless Task Force; congratulated the students of the month; and shared information on how to donate to the Cops for Kids Toy Drive.

City Council Minutes - Draft November 12, 2024
City of Lake Elsinore Page 7
Council Member Sheridan reported on his attendance at the Riverside Transit Agency Board of Directors meeting on October 24, 2024; shared his participation in Michelle’s Place Walk of Hope on October 27, 2024 at the Promenade Mall; highlighted the Rediscover Downtown web page which contains information regarding revitalization projects happening in Downtown; and encouraged residents to share their thoughts for the Dream Your Extreme Parks Master Plan.

Mayor Pro Tem Tisdale reported on his attendance at the Western Riverside Council of Governments Executive Committee meeting on November 4, 2024; and shared the City’s Climate Adaptation and Action Plan.

Mayor Manos reported on his attendance at the Southern California Association of Governments Regional Council and Transportation Committee meetings on November 7, 2024; and invited the community to attend the Winterfest event on December 7, 2024 from 5:00 p.m. to 8:30 p.m. on Downtown Main Street.

ADJOURNMENT
The Lake Elsinore City Council adjourned at 7:51 p.m. to the next Regular meeting of Tuesday, December 10, 2024 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.
23) SA Warrant Report Dated October 21, 2024 to October 27, 2024 Receive and File.

Page 1 of 1 ends

REPORT TO SUCCESSOR AGENCY OF THE

REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
To: Honorable Agency Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Shannon Buckley, Assistant Executive Director Date: December 10, 2024
Subject: SA Warrant Report Dated October 21, 2024 to October 27, 2024 Recommendation
Receive and File.

Discussion
The Warrant Report lists all general checks issued for the Successors Agency of the Redevelopment Agency of the City of Lake Elsinore for the above-mentioned period.

Attachments
Attachment 1 – SA Warrant Summary
Attachment 2 – SA Warrant Listing
Administrative Services
OCT 21, 2024 TO OCT 27, 2024 CITY OF LAKE ELSINORE SA WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
510 SARDA AREA I, II, & III 387.82 $
GRAND TOTAL 387.82 $
Attachment 1 1 OF 1
OCT 21, 2024 TO OCT 27, 2024 CITY OF LAKE ELSINORE SA WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA25000824 HDL COREN & CONE 387.82 $
GRAND TOTAL 387.82 $
Attachment 2 1 OF 1
24) SA Warrant Report Dated October 28, 2024 to November 03, 2024 Receive and File.

Page 1 of 1 ends

REPORT TO SUCCESSOR AGENCY OF THE

REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
To: Honorable Agency Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Shannon Buckley, Assistant Executive Director Date: December 10, 2024
Subject: SA Warrant Report Dated October 28, 2024 to November 03, 2024 Recommendation
Receive and File.

Fiscal Impact
The Warrant Report lists all general checks issued for the Successors Agency of the Redevelopment Agency of the City of Lake Elsinore for the above-mentioned period.

Attachments
Attachment 1 – SA Warrant Summary
Attachment 2 – SA Warrant Listing
Administrative Services
OCT 28, 2024 TO NOV 03, 2024 CITY OF LAKE ELSINORE SA WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
540 SARDA DIAMOND STADIUM 725.41 $
GRAND TOTAL 725.41 $
Attachment 1 1 OF 1
OCT 28, 2024 TO NOV 03, 2024 CITY OF LAKE ELSINORE SA WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
7937 AK SECURITY ALARM LLC 620.00 $
APA25000887 SOUTHERN CALIFORNIA EDISON CO. 105.41
GRAND TOTAL 725.41 $
Attachment 2 1 OF 1
25) SA Warrant Report Dated November 04, 2024 to November 10, 2024 Receive and File.

Page 1 of 1 ends

REPORT TO SUCCESSOR AGENCY OF THE

REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
To: Honorable Agency Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Shannon Buckley, Assistant Executive Director Date: December 10, 2024
Subject: SA Warrant Report Dated November 04, 2024 to November 10, 2024 Recommendation
Receive and File.

Discussion
The Warrant Report lists all general checks issued for the Successors Agency of the Redevelopment Agency of the City of Lake Elsinore for the above-mentioned period.

Attachments
Attachment 1 – SA Warrant Summary
Attachment 2 – SA Warrant Listing
Administrative Services
NOV 04, 2024 TO NOV 10, 2024 CITY OF LAKE ELSINORE SA WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
510 SARDA AREA I, II, & III 5,494.44 $
540 SARDA DIAMOND STADIUM 123,276.20
GRAND TOTAL 128,770.64 $
Attachment 1 1 OF 1
NOV 04, 2024 TO NOV 10, 2024 CITY OF LAKE ELSINORE SA WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
7951 AK SECURITY ALARM LLC 26,253.98 $
APA25000908 EXCEL LANDSCAPE, INC. 23,469.35
APA25000933 QUICK CRETE PRODUCTS CORP. 73,552.87
APA25000915 HDL COREN & CONE 5,494.44
GRAND TOTAL 128,770.64 $
Attachment 2 1 OF 1
26) SA Warrant Report Dated November 11, 2024 to November 17, 2024 Receive and File.

Page 1 of 1 ends

REPORT TO SUCCESSOR AGENCY OF THE

REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
To: Honorable Agency Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Shannon Buckley, Assistant Executive Director Date: December 10, 2024
Subject: SA Warrant Report Dated November 11, 2024 to November 17, 2024 Recommendation
Receive and File.

Discussion
The Warrant Report lists all general checks issued for the Successors Agency of the Redevelopment Agency of the City of Lake Elsinore for the above-mentioned period.

Attachments
Attachment 1 – SA Warrant Summary
Attachment 2 – SA Warrant Listing
Administrative Services
NOV 11, 2024 TO NOV 17, 2024 CITY OF LAKE ELSINORE SA WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
510 SARDA AREA I, II, & III 2,000.00 $
540 SARDA DIAMOND STADIUM 9,570.00
GRAND TOTAL 11,570.00 $
Attachment 1 1 OF 1
NOV 11, 2024 TO NOV 17, 2024 CITY OF LAKE ELSINORE SA WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
7979 AK SECURITY ALARM LLC 9,570.00 $
8008 WILMINGTON TRUST, NATIONAL ASSOCIATION 2,000.00
GRAND TOTAL 11,570.00 $
Attachment 2 1 OF 1
27) SA Warrant Report Dated November 18, 2024 to November 24, 2024 Receive and File.

Page 1 of 1 ends

REPORT TO SUCCESSOR AGENCY OF THE

REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
To: Honorable Agency Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Shannon Buckley, Assistant Executive Director Date: December 10, 2024
Subject: SA Warrant Report Dated November 18, 2024 to November 24, 2024 Recommendation
Receive and File.

Discussion
The Warrant Report lists all general checks issued for the Successors Agency of the Redevelopment Agency of the City of Lake Elsinore for the above-mentioned period.

Attachments
Attachment 1 – SA Warrant Summary
Attachment 2 – SA Warrant Listing
Administrative Services
NOV 18, 2024 TO NOV 24, 2024 CITY OF LAKE ELSINORE SA WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
540 SARDA DIAMOND STADIUM 425.56 $
GRAND TOTAL 425.56 $
Attachment 1 1 OF 1
NOV 18, 2024 TO NOV 24, 2024 CITY OF LAKE ELSINORE SA WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA25001036 QUINN COMPANY 425.56 $
GRAND TOTAL 425.56 $
Attachment 2 1 OF 1
28) SA Warrant Report Dated November 25, 2024 to December 01, 2024 Receive and File.

Page 1 of 1 ends

REPORT TO SUCCESSOR AGENCY OF THE

REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
To: Honorable Agency Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Shannon Buckley, Assistant Executive Director Date: December 10, 2024
Subject: SA Warrant Report Dated November 25, 2024 to December 01, 2024 Recommendation
Receive and File.

Discussion
The Warrant Report lists all general checks issued for the Successors Agency of the Redevelopment Agency of the City of Lake Elsinore for the above-mentioned period.

Attachments
Attachment 1 – SA Warrant Summary
Attachment 2 – SA Warrant Listing
Administrative Services
NOV 25, 2024 TO DEC 01, 2024 CITY OF LAKE ELSINORE SA WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
510 SARDA AREA I, II, & III 2,000.00 $
540 SARDA DIAMOND STADIUM 79.75
GRAND TOTAL 2,079.75 $
Attachment 1 1 OF 1
NOV 25, 2024 TO DEC 01, 2024 CITY OF LAKE ELSINORE SA WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
8122 WILMINGTON TRUST, NATIONAL ASSOCIATION 2,000.00 $
APA25001079 SOUTHERN CALIFORNIA EDISON CO. 79.75
GRAND TOTAL 2,079.75 $
Attachment 2 1 OF 1
29) SA Investment Report for October 2024.

Receive and file the Investment Report for October 2024.

Page 1 of 1 ends

REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY

OF LAKE ELSINORE
To: Honorable Agency Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Shannon Buckley, Assistant Executive Director Date: December 10, 2024
Subject: SA Investment Report for October 2024.

Recommendation
Receive and file the Investment Report for October 2024.

Discussion
The Investment Report is a listing of all funds invested for the City of Lake Elsinore and includes funds held for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore as of the date shown on the report. The Review of the Investment Performance for the quarter ended September 30, 2024, is included.

Fiscal Impact
No fiscal impact.

Attachments
Attachment 1 - Investment Report for October 2024
Administrative Services

CITY OF LAKE ELSINORE

INVESTMENT REPORT

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 OCTOBER 31, 2024

BANK DEPOSITS

IN TRANSIT

OUTSTANDING

PAYMENTS
BOOK

CASH ACCOUNTS
Bank Accounts:

BALANCE BALANCE
General Checking Account $ 3,901,102 $ 24,795 $ (102,075) $ 3,823,822 Cash On Hand:

Cashier Drawers #1 & #2
City of Lake Elsinore Petty Cash Fund
-
-
-
-
-
-
300
2,000
Total Cash Accounts 3,901,102 24,795 (102,075) 3,826,122

INVESTMENTS
Local Agency Investment Funds 62,648,272 - - 62,648,272 CAMP Investments:

CAMP Pool Account 214,679
22,408,239
1,236,023
8,680,005
2,266,362
12,286,922
900,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
214,679
22,408,239
1,236,023
8,680,005
2,266,362
12,286,922
900,000
U.S. Treasury Bond / Note
Municipal Bond / Note
Federal Agency Commercial Mortgage-Backed Security
Federal Agency Bond / Note
Corporate Note
Certificate of Deposit
Bank Note
Asset-Backed Security
525,525
5,150,036
525,525
5,150,036
Sub-total Investments 116,316,063 - - 116,316,063
Market Value Adjustment:

Unrealized Gain/(Loss) at 4/30/2024 (821,059) - - (821,059) Total Investments 115,495,005
119,396,106
- - 115,495,005
Total Pooled Cash and Investments $ $ 24,795 $ (102,075) $ 119,321,127 TOTAL POOLED CASH AND INVESTMENTS $ 119,321,127
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 11, 2024. 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
City Manager
November 26, 2024
Date

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 OCTOBER 31, 2024

FUND NO FUND NAME AMOUNT
100
102
106
107
108
109
110
111
112
114
115
116
117
118
119
121
135
140
160
202
203
205
211
231
232
300
305
310
315
320
331
335
337
338
339
345
346
351
361
363
General $ 11,243,170
13,093,622
1,502,918
534,629
4,940,986
2,452,579
850,983
122,743
770,916
71,938
Measure Z
Affordable Housing In Lieu
Developer Agreement Revenue
American Rescue Plan
Road Maintenance and Rehabilitation (SB1)
State Gas Tax
TUMF C.I.P.

Measure A
SB1186 CASP Education Program
Traffic Safety 5,317
City Hall-Public Works DIF
Community Center DIF
477,436
508,786
715,349
55,964
Lake Side Facility DIF
Animal Shelter DIF
T.R.I.P.-2014A 520
Lighting & Landscape Maintenance - Dist. No. 1
Geothermal
1,626,315
12,292
PEG Grant 4,344
La Strada RBBD 25,070
E.L.S.P. - S.T.I.F. 3,535,230
640,034
2,327,244
1,099,770
1,106,713
369,351
2,592,372
35,629
Traffic Impact Fee
Storm Drain C.I.P.

Library C.I.P.

City Fire Protection
Insurance Service
Information Systems Service
Support Service
Fleet Service 810,432
2,391,564
1,741
Facilities Service
CFD 2006-1CC Summerly Improvement Area CC
CFD 2003-2E Canyon Hills Improvement Area E
CFD 2016-2 Canyon Hills
CFD 2006-1 IA-JJ Summerly Improvement Area
CFD 2006-1 IA-KK Summerly Improvement Area
CFD 2003-2 Improvement Area D, Canyon Hills
CFD 2014-1 Southshore
CFD 2006-1 IA-II Summerly Improvement
CFD 2022-2 Lakeshore Improvement
CFD 2022-3 Lakeside
1,089
26,857
7,842
7,117
10,153
60,826
12,351
4,745
2,696,654

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 OCTOBER 31, 2024

FUND NO FUND NAME AMOUNT
364 4,970
377
397
500
603
604
605
606
608
617
620
631
CFD 2023-2 Coastal Mission Trail Improvement
CFD 2006-6 Tessara 5,807
CFD 2018-3 Village at Lakeshore 9,886
Capital Improvement Plan 11,542,483
Endowment Trust - Carl Graves 64,690
Endowment Trust - Korn Memorial
Public Improvement Trust
35,321
2,543,363
Mobile Source Air Polution Reduction 147,862
Trust Deposit & Pre Paid Expense
Successor Agency Housing
1,674,913
41,517,012
4,598,168
423,063
Cost Recovery System
Lake Destratification Equipment Replacement
Total Pooled Cash & Investments $ 119,321,127

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 OCTOBER 31, 2024

MAXIMUM

PERCENTAGE

DIVERSIFICATION CURRENT

TYPES OF SECURITIES PERCENTAGE BALANCE

0.18%

19.26%

0.00%

1.06%

7.46%

1.95%

0.00%

11.02%

0.00%

0.77%

4.43%
0 CAMP - Pooled Sweep Account
U.S. Treasury Bond / Note
Unlimited
Unlimited
30%
$
$
214,679
22,408,239
Supra-National Agency Bond / Note
Municipal Bond / Note
$ -
1,236,023
8,680,005
2,266,362
-
Unlimited
40%
$
$
$
$
$
Federal Agency Collaterized Mortgage Obligation
Federal Agency Bond / Note (1) Unlimited

40.00%
30%
Banker's Acceptance
Corporate Note (Includes Bank Note)
Commercial Paper
12,812,447
25% $ -
Negotiable Certificates of Deposit
Asset-Backed Security / Collaterized Mortgage
Repurchase Agreements
30% $
$
$
$
$
900,000
5,150,036
-
20%
Unlimited

10.00%
$150 Million
Reverse Repurchase Agreements
LAIF (Local Agency Investment Funds)

0.00%

53.86%
-
(2) 62,648,272
TOTAL 100.00% $ 116,316,063
Note:
(1) No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies.

Investment in LAIF may not exceed $75 million in each agency. (2) Local Agency Investment Fund
PMIA/LAIF Performance Report
as of 11/20/24
PMIA Average Monthly
Effective Yields(1)
Quarterly Performance
Quarter Ended 09/30/24
(2) LAIF Apportionment Rate : 4.71 October
September
August
July

4.518

4.575

4.579

4.516

4.480

4.332
(2) 0.00012912073474208

0.26 1.002061084

4.58 4.56
LAIF Earnings Ratio :
(1)* LAIF Administrative Cost :
(1) LAIF Fair Value Factor :
(1) PMIA Daily : June
May (1) PMIA Quarter to Date :
(1) PMIA Average Life : 231
Pooled Money Investment Account
Monthly Portfolio Composition (1)
10/31/24
$155.9 billion
Corporate
Bonds

0.59%
Commercial
Paper
Time
Deposits

3.38%

7.06% Loans

0.12%
Certificates of
Deposit/Bank Notes

9.40%
Treasuries

53.92%
Agencies

25.53%
Chart does not include $1,290,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.

Daily rates are now available here. View PMIA Daily Rates 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). *The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day of the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year.

Source:
(1) State of California, Office of the Treasurer
(2) State of California, Office of the Controller

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 OCTOBER 31, 2024
Yield Purchase Date
Daily
Maturity Rate

4.518% 24-Hour
Investment Beginning Balance Net Increase/(Decrease) Ending Balance 62,648,272
Total Investments Held with
Local Agency Investment Fund: $ 64,203,505 $ (1,555,234) $ Note:

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

CAMP
Investment Portfolio
Account Statement - Transaction Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
CAMP Pool Asset Summary
Opening Market Value
Purchases
Redemptions
Unsettled Trades
Change in Value
470,550.48
1,963,668.10
(2,219,539.40)

0.00 October 31, 2024 September 30, 2024
CAMP Pool 214,679.18 470,550.48
CAMP Managed Account 53,551,695.11 53,657,307.94

0.00 Total $53,766,374.29 $54,127,858.42
Closing Market Value
Cash Dividends and Income
CAMP Managed Account
$214,679.18
Asset Allocation 763.98
CAMP Pool

0.40%
Opening Market Value
Purchases
Redemptions
Unsettled Trades
Change in Value
53,657,307.94
2,211,468.75
(1,840,141.56)
199,054.69
(675,994.71)
Closing Market Value $53,551,695.11
Cash Dividends and Income 165,671.06
CAMP Managed
Account

99.60%
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 1 ends

Managed Account Summary Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Transaction Summary - Money Market
Opening Market Value
Transaction Summary - Managed Account Account Total
$470,550.48 Opening Market Value $53,657,307.94 Opening Market Value $54,127,858.42 Purchases
Redemptions
1,963,668.10
(2,219,539.40)
Maturities/Calls (97,375.93)
(1,742,765.63)
2,211,468.75
199,054.69
Principal Dispositions
Principal Acquisitions
Unsettled Trades
Change in Current Value (675,994.71)
_______________________________________________ _______________________________________________ ____________________________________________________ Closing Market Value $214,679.18 Closing Market Value $53,551,695.11 Closing Market Value $53,766,374.29 Dividend 763.98
Earnings Reconciliation (Cash Basis) - Managed Account Cash Balance Interest/Dividends/Coupons Received
Less Purchased Interest Related to Interest/Coupons
Plus Net Realized Gains/Losses
122,762.55
(8,070.65)
50,979.16
Closing Cash Balance $0.00
Total Cash Basis Earnings $165,671.06
Earnings Reconciliation (Accrual Basis) Managed Account Total Cash Transactions Summary- Managed Account Ending Amortized Value of Securities
Ending Accrued Interest
Plus Proceeds from Sales
Plus Proceeds of Maturities/Calls/Principal Payments
Plus Coupons/Dividends Received
Less Cost of New Purchases
Less Beginning Amortized Value of Securities
Less Beginning Accrued Interest
Dividends
53,701,405.72
335,189.06
2,749,682.40
97,375.93
108,577.77
(3,417,285.32)
(53,105,484.65)
(298,366.83)

0.00 53,916,084.90
335,189.06
4,969,221.80
97,375.93
Maturities/Calls
Sale Proceeds
Coupon/Interest/Dividend Income
Principal Payments
Security Purchases

0.00 1,756,950.41
108,577.77
97,375.93
(2,219,539.40)
256,635.29

0.00 108,577.77
(5,380,953.42) Net Cash Contribution
(53,576,035.13) Reconciling Transactions
(298,366.83)
763.98
Total Accrual Basis Earnings $171,094.08 $171,858.06
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 2 ends

Portfolio Summary and Statistics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Account Summary Sector Allocation
Description Par Value Market Value Percent
ABS

9.63%
Bank Note

0.98%
Cert of Deposit

1.70%
U.S. Treasury Bond / Note
Municipal Bond / Note
Federal Agency Commercial
Mortgage-Backed Security
Federal Agency Bond / Note
Corporate Note
Certificate of Deposit
Bank Note
Asset-Backed Security
Managed Account Sub-Total
Accrued Interest
23,700,000.00
1,235,000.00
8,805,588.67
22,567,520.66
1,213,872.91
8,754,522.35

41.97 2.26

16.28 US TSY Bond / Note

41.97%
2,275,000.00
12,350,000.00
900,000.00
525,000.00
5,150,776.42
54,941,365.09
2,198,574.15
12,197,838.12
911,621.70
527,926.88
5,179,818.34
53,551,695.11 99.60%
335,189.06
53,886,884.17
214,679.18
54,101,563.35 100.00%

4.09 22.69

1.70 0.98

9.63 Corporate Note

21.21%
Fed Agy Bond /
Note

4.09%
Federal Agency
Commercial
Mortgage-Backed
Security
Priv Placement
Bond

1.48%
Muni Bond / Note
Total Portfolio 2.26%
CAMP Pool
Total Investments
54,941,365.09
214,679.18
55,156,044.27

0.40 Joint Powers
Authority

0.40%

16.28%
Unsettled Trades 1,200,000.00 1,180,734.00
Maturity Distribution Characteristics

47.07% Yield to Maturity at Cost 3.98%

4.37%
1068
Yield to Maturity at Market
Weighted Average Days to Maturity

24.62%

11.79%

8.64%

5.24%

2.64%
0 - 6 Months

0.00%
6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 3 ends

Managed Account Issuer Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Issuer Summary Credit Quality (S&P Ratings)
Market Value
of Holdings
223,938.23
379,758.75
340,824.50
464,700.58
1,475,045.66
745,971.60
352,304.57
448,075.36
451,151.68
165,029.55
454,667.63
780,221.18
368,094.75
82,060.87
214,679.18
734,950.51
151,681.90
212,401.58
290,970.60
64,534.34
425,208.00
779,149.50
380,127.38
670,630.58
145,117.65
9,326,113.92
1,481,864.93
353,867.15
130,072.15
223,734.15
263,502.17
170,283.73
Issuer
Abbott Laboratories
Adobe Inc
Air Products and Chemicals Inc
Amazon.com Inc
Percent

0.42 0.71

0.63 0.86

2.73 1.39

0.66 0.83

0.84 0.31

0.85 1.45

0.68 0.15

0.40 1.37

0.28 0.40

0.54 0.12

0.79 1.45

0.71 1.25

0.27 17.34

2.75 0.66

0.24 0.42

0.49 0.32
A
NR

2.28%
BBB+

0.68%
AAAm

0.40%
AAA

9.73%
AA4.80%
A+

4.72%
A4.64%
AA

3.60%
American Express Co
Apple Inc
BA Credit Card Trust
Bank of America Corp
Bank of New York Mellon Corp
Bayerische Motoren Werke AG
Berkshire Hathaway Inc
BlackRock Inc
Bristol-Myers Squibb Co
California State University
CAMP Pool
Capital One Financial Corp
CarMax Inc
Caterpillar Inc
Charles Schwab Corp
Cintas Corp
Cisco Systems Inc

5.41%
AA+

63.74%
Citigroup Inc
Deere & Co
Discover Card Execution Note Trust
Federal Home Loan Banks
Federal Home Loan Mortgage Corp
Federal National Mortgage Association
Fifth Third Auto Trust
Ford Credit Auto Owner Trust
General Dynamics Corp
GM Financial Consumer Automobile Receiv
Harley-Davidson Inc
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 4 ends

Managed Account Issuer Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Market Value
of Holdings
402,472.35
432,533.98
393,335.60
15,204.00
Issuer
Home Depot Inc
Percent

0.75 0.80

0.73 0.03

0.42 1.09

0.11 1.37

0.98 1.38

0.72 0.60

0.24 0.85

0.32 0.76

0.23 0.56

0.38 0.18

0.07 0.16

0.85 0.47

0.70 0.42

41.96 0.40

0.16 Honda Auto Receivables Owner Trust
Honda Motor Co Ltd
Hyundai Auto Receivables Trust
International Business Machines Corp
JPMorgan Chase & Co
Lockheed Martin Corp
Microsoft Corp
Morgan Stanley
National Australia Bank Ltd
National Rural Utilities Cooperative Fi
New York State Urban Development Corp
Nissan Auto Receivables Owner Trust
Nordea Bank Abp
PACCAR Inc
Roche Holding AG
San Juan Unified School District
State Board of Administration Finance C
State of California
State of Minnesota
Target Corp
Texas Instruments Inc
Toronto-Dominion Bank
Toyota Auto Receivables Owner Trust
Toyota Motor Corp
United Services Automobile Association
United States Treasury
223,781.63
583,433.23
59,930.70
734,766.00
527,926.88
741,634.00
386,882.50
320,404.18
131,488.84
455,579.10
173,604.20
406,245.63
126,337.51
302,489.62
201,941.80
97,251.80
37,997.16
85,522.50
456,042.60
254,153.78
376,078.50
223,744.05
22,567,520.66
213,950.03
83,387.13
UnitedHealth Group Inc
University of California Board of Regen
Total $53,766,374.29 100.00%
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 5 ends

Managed Account Detail of Securities Held

US TREASURY N/B
DTD 06/30/2020 0.250% 06/30/2025
912828ZW3
912828U24
91282CEN7
91282CFB2
91282CFB2
91282CFB2
91282CFB2
91282CFZ9
91282CFZ9
91282CGP0
91282CGP0
91282CGP0
91282CGP0
91282CCH2
50,000.00 AA+
3,775,000.00 AA+
1,200,000.00 AA+
375,000.00 AA+
400,000.00 AA+
600,000.00 AA+
825,000.00 AA+
1,175,000.00 AA+
1,200,000.00 AA+
400,000.00 AA+
600,000.00 AA+
1,350,000.00 AA+
2,450,000.00 AA+
225,000.00 AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
04/01/21
01/13/23
01/31/23
05/01/23
03/02/23
07/03/23
06/02/23
01/02/24
12/01/23
04/03/24
02/02/24
03/01/24
05/01/24
07/01/24
04/05/21
01/17/23
02/03/23
05/05/23
03/06/23
07/07/23
06/06/23
01/05/24
12/05/23
04/05/24
02/06/24
03/06/24
05/06/24
07/03/24
49,031.25 0.71
3,545,550.78 3.72
1,155,421.88 3.70
362,329.10 3.62
373,265.62 4.44
565,640.63 4.30
786,779.30 3.97
1,170,501.95 3.98
1,184,109.38 4.24
393,640.63 4.45
602,507.81 3.89
1,335,287.11 4.30
2,383,390.63 4.79
198,641.60 4.49

42.12 34,877.72

91.16 49,849.08
3,652,889.69
1,173,777.58
366,798.29
383,340.89
576,816.10
799,738.03
1,171,452.06
1,187,732.79
394,577.80
602,053.23
1,337,713.98
2,391,277.90
200,647.68
48,656.25
3,618,250.68
1,160,766.00
361,538.25
385,640.80
578,461.20
795,384.15
1,165,866.73
1,190,672.40
398,109.20
597,163.80
1,343,618.55
2,438,418.85
202,895.55

US TREASURY N/B
DTD 11/15/2016 2.000% 11/15/2026

US TREASURY N/B
DTD 05/02/2022 2.750% 04/30/2027

US TREASURY N/B
DTD 08/01/2022 2.750% 07/31/2027
2,606.15
2,779.89
4,169.84
5,733.53
19,157.96
19,565.57
2,740.33
4,110.50
9,248.62
16,784.53
947.69

US TREASURY N/B
DTD 08/01/2022 2.750% 07/31/2027

US TREASURY N/B
DTD 11/30/2022 3.875% 11/30/2027

US TREASURY N/B
DTD 02/28/2023 4.000% 02/29/2028

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 6 ends

Managed Account Detail of Securities Held

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
91282CCH2
91282CCH2
91282CCH2
91282CCH2
91282CJR3
1,275,000.00 AA+
1,300,000.00 AA+
2,400,000.00 AA+
2,900,000.00 AA+
1,200,000.00 AA+
Aaa
Aaa
Aaa
Aaa
Aaa
09/04/24
08/01/24
10/01/24
06/06/24
09/06/24
08/05/24
10/07/24
06/11/24
1,169,364.26 3.59
1,173,960.94 3.96
2,211,468.75 3.51
2,565,253.91 4.39
1,182,093.75 4.14
5,370.24
5,475.54
1,173,308.41
1,181,155.83
2,214,683.11
2,594,965.18
1,182,093.75
1,149,741.45
1,172,285.40
2,164,219.20
2,615,098.20
1,180,734.00

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
10,108.70
12,214.67
15,163.04

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
US TREASURY N/B 10/31/24 11/05/24
DTD 01/02/2024 3.750% 12/31/2028
Security Type Sub-Total
Municipal Bond / Note
23,700,000.00 22,408,239.28 4.05 171,187.80 22,634,871.38 22,567,520.66 NY ST URBAN DEV-F-1
DTD 12/23/2020 0.870% 03/15/2025
650036DT0
91412HGE7
341271AD6
341271AD6
341271AD6
60412AK85
798306WP7
13077DQD7
325,000.00 NR
85,000.00 AA
65,000.00 AA
85,000.00 AA
160,000.00 AA
100,000.00 AAA
130,000.00 NR
85,000.00 AANR 12/16/20
07/10/20
09/03/20
09/03/20
09/03/20
05/07/24
10/16/20
07/09/21
12/23/20
07/16/20
09/16/20
09/16/20
09/16/20
05/07/24
10/29/20
07/29/21
325,000.00 0.87
85,000.00 0.88
65,459.55 1.11
85,563.55 1.12
160,000.00 1.26
100,000.00 0.63
130,000.00 0.85
85,000.00 0.86
361.29
346.09
272.57
356.43
670.93
157.50
276.90
366.35
325,000.00
85,000.00
65,063.94
85,078.41
160,000.00
100,000.00
130,000.00
85,000.00
320,404.18
83,387.13
63,425.24
82,940.70
156,123.68
97,251.80
126,337.51
82,060.87

UNIV OF CALIFORNIA-BG (CALLABLE)
DTD 07/16/2020 0.883% 05/15/2025
Aa2
Aa3
Aa3
Aa3
Aaa
Aa2
Aa2

FLORIDA ST BRD OF ADM
DTD 09/16/2020 1.258% 07/01/2025

MINNESOTA ST-F-UNREF
DTD 08/25/2020 0.630% 08/01/2025

SAN JUAN CA UNIF SCH
DTD 10/29/2020 0.852% 08/01/2025

CALIFORNIA ST UNIV-B
DTD 07/29/2021 0.862% 11/01/2025
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 7 ends

Managed Account Detail of Securities Held

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value Municipal Bond / Note
CA ST 13063D3N6 200,000.00 AA- Aa2 03/09/23 03/15/23 200,000.00 4.85 1,615.33 200,000.00 201,941.80 DTD 03/15/2023 4.846% 03/01/2027
Security Type Sub-Total 1,235,000.00 1,236,023.10 1.59 4,423.39 1,235,142.35 1,213,872.91 Federal Agency Commercial Mortgage-Backed Security
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24
3137BNGT5
3137BSP72
3137BTUM1
3137BXQY1
3137F1G44
3137HBC69
3137HAD45
3137HACX2
3136BQDE6
3137HAQ74
198,305.73 AA+
275,000.00 AA+
550,000.00 AA+
372,015.71 AA+
550,000.00 AA+
550,000.00 AA+
393,605.51 AA+
436,108.41 AA+
550,000.00 AA+
525,553.31 AA+
500,000.00 AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
03/19/20
04/11/23
04/06/23
05/19/23
08/16/23
06/08/23
12/06/23
07/19/23
07/13/23
07/18/23
10/11/23
03/25/20
04/14/23
04/12/23
05/24/23
08/18/23
06/13/23
12/14/23
07/27/23
07/20/23
07/31/23
10/19/23
208,128.06 1.91
263,613.28 4.32
526,839.84 3.98
360,564.61 4.29
518,804.69 4.94
527,033.20 4.42
393,602.36 4.86
436,097.54 4.78
555,493.40 4.59
516,643.54 4.58
489,032.00 5.25
506.01
629.06
198,615.91
269,949.35
537,512.99
365,259.47
529,219.16
535,249.77
393,604.22
436,100.33
554,066.66
518,878.43
491,134.08
197,438.14
269,213.73
532,242.15
363,107.42
534,495.50
533,569.85
395,683.36
436,773.91
553,425.40
517,311.58
502,499.50
FHMS K054 A2
DTD 04/01/2016 2.745% 01/01/2026
FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
1,215.96
1,037.61
1,477.67
1,486.38
1,593.45
1,736.07
2,208.71
1,831.19
1,975.00
FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 8 ends

Managed Account Detail of Securities Held

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value Federal Agency Commercial Mortgage-Backed Security
FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6
3137HAST4
3137HAMS2
3137HB3D4
3137HB3G7
3137HBLV4
3137HDV56
3137HDJJ0
3137HDXL9
800,000.00 AA+
375,000.00 AA+
500,000.00 AA+
180,000.00 AA+
275,000.00 AA+
290,000.00 AA+
440,000.00 AA+
550,000.00 AA+
495,000.00 AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
09/07/23
10/25/23
09/20/23
11/14/23
11/28/23
02/01/24
07/16/24
06/05/24
08/07/24
09/14/23
10/31/23
09/28/23
11/21/23
12/07/23
02/08/24
07/25/24
06/13/24
08/15/24
788,165.60 4.99
363,043.88 5.60
494,023.50 5.07
179,479.62 5.14
274,209.93 4.93
292,899.71 4.34
442,702.04 4.58
549,998.35 4.80
499,630.23 4.33
3,100.00
1,515.63
2,000.00
760.35
790,610.81
365,070.95
495,128.88
179,569.31
274,341.28
292,505.93
442,609.74
550,000.00
499,453.27
800,751.20
377,703.38
502,698.00
182,682.18
277,220.90
289,516.86
441,675.96
553,381.95
493,131.38
FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
1,113.75
1,104.90
1,730.67
2,201.38
1,873.99
FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
Security Type Sub-Total 8,805,588.67 8,680,005.38 4.66 31,097.78 8,718,880.54 8,754,522.35 Federal Agency Bond / Note

FREDDIE MAC
DTD 07/23/2020 0.375% 07/21/2025
3137EAEU9
3135G05X7
3130AK5E2
3137EAEX3
425,000.00 AA+
350,000.00 AA+
150,000.00 AA+
700,000.00 AA+
Aaa
Aaa
Aaa
Aaa
07/21/20
08/25/20
09/10/20
09/23/20
07/23/20
08/27/20
09/11/20
09/25/20
422,883.50 0.48
348,362.00 0.47
149,550.00 0.44
697,893.00 0.44
442.71
240.63

89.06 424,693.94
349,732.16
149,923.95
699,622.66
413,080.45
338,863.35
145,117.65
675,822.70

FANNIE MAE
DTD 08/27/2020 0.375% 08/25/2025

FEDERAL HOME LOAN BANK
DTD 09/11/2020 0.375% 09/04/2025
FREDDIE MAC 277.08
DTD 09/25/2020 0.375% 09/23/2025
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 9 ends

Managed Account Detail of Securities Held

PACCAR FINANCIAL CORP
DTD 02/06/2020 1.800% 02/06/2025
69371RQ66
025816CQ0
771196BT8
437076CM2
17252MAP5
90327QD89
369550BG2
023135BQ8
63254ABD9
63743HFE7
459200KS9
175,000.00 A+
80,000.00 BBB+
410,000.00 AA
A1
A2
10/22/20
03/01/22
03/03/22
03/24/22
04/26/22
05/23/22
10/16/20
06/03/20
05/31/22
04/27/22
07/20/22
10/29/20
03/04/22
03/10/22
03/28/22
05/03/22
05/26/22
10/20/20
06/05/20
06/09/22
05/04/22
07/27/22
182,894.25 0.72
79,919.20 2.29
410,000.00 2.13
24,956.25 2.76
64,985.70 3.46
224,264.25 3.49
252,247.50 0.80
474,767.25 0.81
250,000.00 3.50
49,986.50 3.92
225,000.00 4.00
743.75
285.00
175,487.93
79,990.80
410,000.00
24,993.46
64,997.61
224,874.47
227,303.57
474,972.56
250,000.00
49,997.30
225,000.00
173,604.20
79,293.28
406,245.63
24,788.85
64,534.34
223,744.05
223,734.15
464,700.58
248,288.00
49,608.50
223,781.63

AMERICAN EXPRESS CO (CALLABLE)
DTD 03/04/2022 2.250% 03/04/2025

ROCHE HOLDINGS INC (CALLABLE)
DTD 03/10/2022 2.132% 03/10/2025
Aa2
A2
1,238.34
HOME DEPOT INC (CALLABLE) 30.00
DTD 03/28/2022 2.700% 04/15/2025
25,000.00 A
CINTAS CORPORATION NO. 2 (CALLABLE)
DTD 05/03/2022 3.450% 05/01/2025
65,000.00 A225,000.00 AAA3 1,121.25
3,796.88
3,631.25
1,562.22
3,451.39
651.67

USAA CAPITAL CORP
DTD 05/26/2022 3.375% 05/01/2025
Aa1
GENERAL DYNAMICS CORP (CALLABLE) A2
DTD 05/11/2018 3.500% 05/15/2025
225,000.00 A
AMAZON.COM INC (CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025
475,000.00 AA
250,000.00 AA50,000.00 A225,000.00 AA1NATIONAL AUSTRALIA BK/NY DTD 06/09/2022 3.500% 06/09/2025
Aa2
NATIONAL RURAL UTIL COOP A2
DTD 05/04/2022 3.450% 06/15/2025
IBM CORP A3 2,350.00
DTD 07/27/2022 4.000% 07/27/2025
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 10 ends

Managed Account Detail of Securities Held

BANK OF AMERICA CORP
DTD 07/30/2015 3.875% 08/01/2025
06051GFS3
002824BM1
06051GKE8
46647PCV6
91324PEC2
05565EBW4
14913R2U0
87612EBM7
06406RBA4
594918BY9
025816CS6
084664CZ2
808513BW4
63254ABE7
225,000.00 A225,000.00 AA225,000.00 A175,000.00 A225,000.00 A+A1 Aa3
A1
08/18/20
09/24/20
12/01/21
02/16/22
05/17/21
08/12/21
01/11/22
01/19/22
01/26/22
03/14/23
01/13/23
03/15/22
02/17/23
01/13/23
08/20/20
09/28/20
12/06/21
02/24/22
05/19/21
08/16/21
01/13/22
01/24/22
01/28/22
03/17/23
01/18/23
03/17/22
02/22/23
01/18/23
256,918.50 0.93
257,845.50 0.86
225,000.00 1.53
175,000.00 2.60
224,608.50 1.19
174,947.50 1.26
223,863.75 1.81
39,932.00 1.99
473,945.50 2.10
721,942.50 4.36
277,203.00 4.59
466,089.00 2.70
284,925.00 4.66
488,325.00 4.50
2,179.69
1,114.06
1,386.56
845.18
229,838.85
229,335.53
225,000.00
175,000.00
224,879.24
174,981.26
224,501.82
39,969.85
223,917.08
223,938.23
224,158.28
173,622.23
213,950.03
165,029.55
212,401.58
37,997.16

ABBOTT LABORATORIES (CALLABLE)
DTD 03/22/2017 3.875% 09/15/2025

BANK OF AMERICA CORP (CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025

JPMORGAN CHASE & CO (CALLABLE)
DTD 02/24/2022 2.595% 02/24/2026
A1

UNITEDHEALTH GROUP INC (CALLABLE)
DTD 05/19/2021 1.150% 05/15/2026
A2 1,193.13
BMW US CAPITAL LLC (CALLABLE) 480.03
DTD 08/12/2021 1.250% 08/12/2026
175,000.00
225,000.00
40,000.00
475,000.00
A
A
A
A
A2

CATERPILLAR FINL SERVICE
DTD 01/10/2022 1.700% 01/08/2027
A2 1,200.63
TARGET CORP (CALLABLE) 229.67
DTD 01/24/2022 1.950% 01/15/2027
A2

BANK OF NY MELLON CORP (CALLABLE)
DTD 01/26/2022 2.050% 01/26/2027
A1 2,569.62
5,843.75
1,211.25
1,395.97
825.00
474,527.88
733,654.85
287,067.38
470,767.52
291,132.35
493,073.28
451,151.68
734,766.00
286,418.40
454,667.63
290,970.60
493,346.00

MICROSOFT CORP (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
750,000.00 AAA
300,000.00 BBB+
475,000.00 AA
300,000.00 A500,000.00 AAAaa
AMERICAN EXPRESS CO (CALLABLE) A2
DTD 03/04/2022 2.550% 03/04/2027

BERKSHIRE HATHAWAY FIN (CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027
Aa2
CHARLES SCHWAB CORP (CALLABLE) A2
DTD 09/24/2021 3.300% 04/01/2027
NATIONAL AUSTRALIA BK/NY Aa2 7,701.53
DTD 06/09/2022 3.905% 06/09/2027
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 11 ends

Managed Account Detail of Securities Held

APPLE INC (CALLABLE)
DTD 09/12/2017 2.900% 09/12/2027
037833DB3
89236TKQ7
637432NP6
882508BV5
110122DE5
539830BZ1
24422EXB0
17325FBB3
009158BH8
17275RBR2
09290DAA9
09290DAA9
00724PAF6
00724PAF6
775,000.00 AA+
375,000.00 A+
350,000.00 A85,000.00 A+
Aaa
A1
01/19/23
02/08/23
02/17/23
05/11/23
03/09/23
05/23/23
07/21/23
10/02/23
02/06/24
02/21/24
03/05/24
03/06/24
04/02/24
04/01/24
01/23/23
02/10/23
02/22/23
05/18/23
03/13/23
05/25/23
07/25/23
10/04/23
02/08/24
02/26/24
03/14/24
03/14/24
04/04/24
04/04/24
741,062.75 3.94
376,282.50 4.55
329,189.00 4.76
87,043.40 4.04
358,263.75 4.93
59,892.00 4.49
377,865.00 4.78
746,280.00 5.92
339,547.80 4.63
419,853.00 4.86
49,909.50 4.74
725,355.25 4.69
169,775.60 4.83
204,694.55 4.83
3,059.10
5,251.30
2,776.67
825.44
754,035.77
375,833.05
336,289.22
86,406.13
363,801.69
59,923.13
377,134.74
746,994.72
339,607.75
419,872.15
49,919.96
725,317.40
169,799.01
204,726.15
745,971.60
376,078.50
337,274.00
85,522.50
368,094.75
59,930.70
380,127.38
779,149.50
340,824.50
425,208.00
50,336.85
729,884.33
172,157.30
207,601.45

TOYOTA MOTOR CREDIT CORP
DTD 01/12/2023 4.625% 01/12/2028

NATIONAL RURAL UTIL COOP (CALLABLE)
DTD 02/07/2018 3.400% 02/07/2028
A1

TEXAS INSTRUMENTS INC (CALLABLE)
DTD 11/18/2022 4.600% 02/15/2028
Aa3
BRISTOL-MYERS SQUIBB CO (CALLABLE) A2
DTD 07/15/2020 3.900% 02/20/2028
375,000.00 A 2,884.38
1,231.17
5,517.19
3,868.67
3,605.89
3,677.92
306.81

LOCKHEED MARTIN CORP (CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
60,000.00 A- A2

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
375,000.00 A A1

CITIBANK NA (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
750,000.00 A+ Aa3
AIR PRODUCTS & CHEMICALS (CALLABLE) A2
DTD 02/08/2024 4.600% 02/08/2029
340,000.00 A

CISCO SYSTEMS INC (CALLABLE)
DTD 02/26/2024 4.850% 02/26/2029
420,000.00 AA50,000.00 AA725,000.00 AA170,000.00 A+
205,000.00 A+
A1

BLACKROCK FUNDING INC (CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
Aa3
Aa3
A1

BLACKROCK FUNDING INC (CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
4,448.68
ADOBE INC (CALLABLE) 612.00
DTD 04/04/2024 4.800% 04/04/2029
ADOBE INC (CALLABLE) A1 738.00
DTD 04/04/2024 4.800% 04/04/2029
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 12 ends

Managed Account Detail of Securities Held

HOME DEPOT INC (CALLABLE)
DTD 06/25/2024 4.750% 06/25/2029
437076DC3
437076DC3
02665WFQ9
125,000.00
250,000.00
A
A
A2
A2
A3
06/17/24
06/18/24
09/03/24
06/25/24
06/25/24
09/05/24
124,193.75 4.90
248,627.50 4.88
399,520.00 4.43
2,078.13
4,156.25
2,737.78
124,244.25
248,714.03
399,533.81
125,894.50
251,789.00
393,335.60

HOME DEPOT INC (CALLABLE)
DTD 06/25/2024 4.750% 06/25/2029
AMERICAN HONDA FINANCE 400,000.00 ADTD 09/05/2024 4.400% 09/05/2029 Security Type Sub-Total
Certificate of Deposit
12,350,000.00 12,286,922.00 3.69 94,813.20 12,263,500.47 12,197,838.12

TORONTO DOMINION BANK NY
DTD 10/31/2022 5.600% 10/27/2025
89115B6K1
65558UYF3
450,000.00 A450,000.00 AAA2 10/27/22
11/02/22
10/31/22
11/03/22
450,000.00 5.60
450,000.00 5.53
490.00 450,000.00
450,000.00
456,042.60
NORDEA BANK ABP NEW YORK Aa3 12,304.25 455,579.10
DTD 11/03/2022 5.530% 11/03/2025
Security Type Sub-Total
Bank Note
900,000.00 900,000.00 5.57 12,794.25 900,000.00 911,621.70

MORGAN STANLEY BANK NA (CALLABLE)
DTD 07/19/2024 4.968% 07/14/2028
61690U8E3 525,000.00 A+ Aa3 07/18/24 07/19/24 525,525.00 4.94 7,389.90 525,479.16 527,926.88 Security Type Sub-Total
Asset-Backed Security
525,000.00 525,525.00 4.94 7,389.90 525,479.16 527,926.88 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
65480BAC1
89190GAC1
43815GAC3
14314QAC8
11,508.46 AAA
9,174.08 AAA
23,262.97 NR
3,544.82 AAA
Aaa
NR
06/15/21
06/08/21
11/16/21
04/13/21
06/23/21
06/14/21
11/24/21
04/21/21
11,508.27 0.33
9,173.10 0.26
23,258.07 0.89
3,544.05 0.52

1.69 1.06

5.69 0.82
11,508.42
9,173.85
23,261.53
3,544.61
11,484.71
9,155.74
23,001.89
3,538.13
TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
Aaa
CARMX 2021-2 A3 NR
DTD 04/21/2021 0.520% 02/17/2026
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 13 ends

Managed Account Detail of Securities Held

5.04 6.87
15,319.72
24,255.32
15,204.00
GMCAR 2021-4 A3 23,933.88
DTD 10/21/2021 0.680% 09/16/2026
CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
262.77
238.36
481.06
504.16
539.00
381.56
268.67
625.16
612.98
361.91
411.24
962.58
148,924.70
120,235.90
239,510.93
244,999.93
244,977.05
169,988.89
129,990.85
319,951.54
319,987.30
169,972.28
189,987.88
489,920.07
148,143.77
120,004.13
239,568.29
244,998.04
245,799.68
170,283.73
130,072.15
323,072.64
318,780.48
170,605.37
190,942.59
489,150.83
NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 14 ends

Managed Account Detail of Securities Held

3.98 10,862.43 5,150,033.58
53,701,405.72
5,179,818.34
Managed Account Sub-Total 53,551,695.11
Joint Powers Authority
CAMP Pool
53,453,112.46 335,189.06
214,679.18 AAAm NR 214,679.18 0.00 214,679.18 214,679.18 Liquid Sub-Total 214,679.18 214,679.18 0.00 214,679.18 214,679.18 Securities Sub-Total
Accrued Interest
$55,156,044.27 $53,667,791.64 3.98% $335,189.06 $53,916,084.90 $53,766,374.29 $335,189.06
Total Investments $54,101,563.35
Bolded items are forward settling trades.

PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 15 ends

Managed Account Fair Market Value & Analytics

US TREASURY N/B
DTD 06/30/2020 0.250% 06/30/2025

US TREASURY N/B
DTD 11/15/2016 2.000% 11/15/2026

US TREASURY N/B
DTD 05/02/2022 2.750% 04/30/2027

US TREASURY N/B
DTD 08/01/2022 2.750% 07/31/2027

US TREASURY N/B
DTD 11/30/2022 3.875% 11/30/2027

US TREASURY N/B
DTD 02/28/2023 4.000% 02/29/2028

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028

US TREASURY N/B
912828ZW3
912828U24
91282CEN7
91282CFB2
91282CFB2
91282CFB2
91282CFB2
91282CFZ9
91282CFZ9
91282CGP0
91282CGP0
91282CGP0
91282CGP0
91282CCH2
91282CCH2
91282CCH2
91282CCH2
50,000.00 GoldmanS
3,775,000.00 JPMorgan
1,200,000.00 BNPPSA
375,000.00 MorganSt
400,000.00 BMO

97.31 95.85

96.73 96.41

96.41 96.41

96.41 99.22

99.22 99.53

99.53 99.53

99.53 90.18

90.18 90.18

90.18 48,656.25
3,618,250.68
1,160,766.00
361,538.25
(375.00)
72,699.90
5,344.12
(1,192.83)
(34,639.01)
(13,011.58)
(5,260.04)
2,299.91

0.65 1.95

2.37 2.59

2.59 2.59

2.59 2.82

2.82 3.06

3.06 3.06

3.06 3.50

3.50 3.50

3.50 5.10

4.14 4.13

4.13 4.13

4.11 4.11

4.11 4.11
(790.85)
385,640.80 12,375.18
12,820.57
8,604.85
600,000.00 Citigrou
825,000.00 HSBC
578,461.20 1,645.10
795,384.15 (4,353.88)
(5,585.33)
2,939.61
1,175,000.00 Citigrou
1,200,000.00 HSBC
400,000.00 JPMorgan
600,000.00 Citigrou
1,350,000.00 Citigrou
2,450,000.00 HSBC
225,000.00 BMO
1,165,866.73
1,190,672.40
398,109.20
(4,635.22)
6,563.02
4,468.57 3,531.40
597,163.80 (5,344.01)
8,331.44
(4,889.43)
1,343,618.55 5,904.57
2,438,418.85
202,895.55
55,028.22
4,253.95
47,140.95
2,247.87
1,275,000.00 MorganSt
1,300,000.00 BMO
2,400,000.00 BMO
1,149,741.45
1,172,285.40
2,164,219.20
(19,622.81)
(1,675.54)
(47,249.55)
(23,566.96)
(8,870.43)
(50,463.91)
DTD 06/30/2021 1.250% 06/30/2028

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 16 ends

Managed Account Fair Market Value & Analytics

98.59 98.10

97.58 97.58

97.58 97.25

97.18 96.54
100.97
320,404.18
83,387.13
63,425.24
82,940.70
156,123.68
97,251.80
126,337.51
82,060.87
201,941.80
(4,595.82)
(1,612.87)
(2,034.31)
(2,622.85)
(3,876.32)
(2,748.20)
(3,662.49)
(2,939.13)
1,941.80
(4,595.82)
(1,612.87)
(1,638.70)
(2,137.71)
(3,876.32)
(2,748.20)
(3,662.49)
(2,939.13)
1,941.80

0.36 0.53

0.65 0.65

0.65 0.74

0.74 0.98

2.17 4.78

4.51 5.02

5.02 5.02

4.41 4.73

4.45 4.40
DTD 12/23/2020 0.870% 03/15/2025

UNIV OF CALIFORNIA-BG (CALLABLE)
DTD 07/16/2020 0.883% 05/15/2025

FLORIDA ST BRD OF ADM
DTD 09/16/2020 1.258% 07/01/2025

MINNESOTA ST-F-UNREF
DTD 08/25/2020 0.630% 08/01/2025

SAN JUAN CA UNIF SCH
DTD 10/29/2020 0.852% 08/01/2025

CALIFORNIA ST UNIV-B
DTD 07/29/2021 0.862% 11/01/2025
CA ST
04/15/25
85,000.00 JPMorgan
200,000.00 WellsFar
DTD 03/15/2023 4.846% 03/01/2027
Security Type Sub-Total 1,235,000.00 1,213,872.91 (22,150.19) (21,269.44) 0.85 4.70 Federal Agency Commercial Mortgage-Backed Security
FHMS K043 A2 3137BGK24 198,305.73 Citigrou 99.56 197,438.14 (10,689.92) (1,177.77) 0.15 5.10 DTD 03/01/2015 3.062% 12/01/2024
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 17 ends

Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
Federal Agency Commercial Mortgage-Backed Security
FHMS K054 A2
DTD 04/01/2016 2.745% 01/01/2026
FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
FHMS K514 A2
3137BNGT5
3137BSP72
3137BTUM1
3137BXQY1
3137F1G44
3137HBC69
3137HAD45
3137HACX2
3136BQDE6
3137HAQ74
3137HAMH6
3137HAST4
3137HAMS2
3137HB3D4
3137HB3G7
3137HBLV4
3137HDV56
275,000.00 RobertBa
550,000.00 BREAN
372,015.71 Citigrou
550,000.00 MorganSt
550,000.00 Citigrou
393,605.51 JPMorgan
436,108.41 JPMorgan
550,000.00 JPMorgan
525,553.31 JPMorgan
500,000.00 BMO

97.90 96.77
269,213.73
532,242.15
363,107.42
534,495.50
533,569.85
395,683.36
436,773.91
553,425.40
517,311.58
502,499.50
800,751.20
377,703.38
502,698.00
182,682.18
277,220.90
289,516.86
441,675.96
5,600.45
5,402.31
2,542.81
15,690.81
6,536.65
2,081.00
676.37
(735.62)
(5,270.84)
(2,152.05)
5,276.34
(1,679.92)
2,079.14
673.58

1.07 1.70

1.85 2.11

2.26 2.88

2.42 3.20

3.34 3.37

3.34 3.44

3.40 3.46

3.50 3.59

4.00 4.55

4.46 4.52

4.48 4.50

4.59 4.61

4.55 4.58

4.52 4.55

4.57 4.57

4.57 4.56

4.55 4.56

97.61 97.18

97.01 100.53
100.15
100.62

98.43 (2,068.00)
668.04
(641.26)
(1,566.85)
11,365.42
10,140.39
12,632.43
7,569.12
3,112.87
2,879.62
(2,989.07)
(933.78)
100.50
100.09
100.72
100.54
101.49
100.81

99.83 13,467.50
12,585.60
14,659.50
8,674.50
3,202.56
3,010.97
(3,382.85)
(1,026.08)
800,000.00 WellsFar
375,000.00 MorganSt
500,000.00 BOFAML
180,000.00 JPMorgan
275,000.00 BOFAML
290,000.00 JPMorgan
440,000.00 PIER
DTD 02/01/2024 4.572% 12/01/2028
FHMS K524 A2 100.38
DTD 07/01/2024 4.720% 05/01/2029
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 18 ends

Managed Account Fair Market Value & Analytics

99.62 553,381.95
493,131.38
3,383.60 3,381.95 3.90

4.15 4.58
(6,498.85) (6,321.89) 4.55
DTD 08/01/2024 4.543% 07/01/2029
Security Type Sub-Total 8,805,588.67 8,754,522.35 74,516.97 35,641.81 2.96 4.56 Federal Agency Bond / Note

FREDDIE MAC
DTD 07/23/2020 0.375% 07/21/2025

FANNIE MAE
DTD 08/27/2020 0.375% 08/25/2025

FEDERAL HOME LOAN BANK
DTD 09/11/2020 0.375% 09/04/2025

FREDDIE MAC
DTD 09/25/2020 0.375% 09/23/2025

FANNIE MAE
3137EAEU9
3135G05X7
3130AK5E2
3137EAEX3
3135G06G3
425,000.00 WellsFar
350,000.00 Barclays
150,000.00 WellsFar
700,000.00 Citigrou
650,000.00 Barclays

97.20 96.82

96.75 96.55

96.26 413,080.45
338,863.35
145,117.65
675,822.70
625,690.00
(9,803.05)
(9,498.65)
(4,432.35)
(22,070.30)
(21,983.00)
(11,613.49)
(10,868.81)
(4,806.30)
(23,799.96)
(23,835.53)

0.71 0.80

0.83 0.88

0.99 4.45

4.42 4.39

4.03 4.34
DTD 11/12/2020 0.500% 11/07/2025
Security Type Sub-Total
Corporate Note
2,275,000.00 2,198,574.15 (67,787.35) (74,924.09) 0.86 4.28 PACCAR FINANCIAL CORP 69371RQ66
025816CQ0
771196BT8
437076CM2
17252MAP5
90327QD89
175,000.00 BOFAML
80,000.00 Barclays
410,000.00 Deutsche
25,000.00 MorganSt
65,000.00 KEYB

99.20 99.12

99.08 99.16

99.28 99.44
173,604.20
79,293.28
406,245.63
24,788.85
64,534.34
223,744.05
(9,290.05)
(625.92)
(3,754.37)
(167.40)
(451.36)
(520.20)
(1,883.73)
(697.52)

0.26 0.33

0.35 0.45

0.48 0.49

4.89 4.84

4.79 4.65

4.91 4.54
DTD 02/06/2020 1.800% 02/06/2025

AMERICAN EXPRESS CO (CALLABLE)
DTD 03/04/2022 2.250% 03/04/2025

ROCHE HOLDINGS INC (CALLABLE)
DTD 03/10/2022 2.132% 03/10/2025

HOME DEPOT INC (CALLABLE)
DTD 03/28/2022 2.700% 04/15/2025
CINTAS CORPORATION NO. 2 (CALLABLE)
DTD 05/03/2022 3.450% 05/01/2025

USAA CAPITAL CORP
02/01/25
02/10/25
03/15/25
04/01/25
(3,754.37)
(204.61)
(463.27)
225,000.00 BOFAML (1,130.42)
DTD 05/26/2022 3.375% 05/01/2025
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 19 ends

Managed Account Fair Market Value & Analytics

GENERAL DYNAMICS CORP (CALLABLE)
DTD 05/11/2018 3.500% 05/15/2025
AMAZON.COM INC (CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025

NATIONAL AUSTRALIA BK/NY
DTD 06/09/2022 3.500% 06/09/2025

NATIONAL RURAL UTIL COOP
DTD 05/04/2022 3.450% 06/15/2025

IBM CORP
369550BG2
023135BQ8
63254ABD9
63743HFE7
459200KS9
06051GFS3
002824BM1
06051GKE8
46647PCV6
91324PEC2
05565EBW4
14913R2U0
87612EBM7
06406RBA4
594918BY9
025816CS6
084664CZ2
225,000.00 JPMorgan
475,000.00 GoldmanS
250,000.00 Citigrou
50,000.00 RBC Capi
225,000.00 JPMorgan
225,000.00 BOFAML
225,000.00 US_BANC
225,000.00 BOFAML
175,000.00 JPMorgan
225,000.00 Citigrou
175,000.00 SUMITR
225,000.00 JPMorgan
40,000.00 Citigrou
475,000.00 Deutsche
750,000.00 GoldmanS
300,000.00 RBS
03/15/25
05/03/25

99.44 97.83

99.32 99.22

99.46 99.52

99.53 99.63

99.21 95.09

94.30 94.40

94.99 94.98

97.97 95.47

95.72 223,734.15
464,700.58
248,288.00
49,608.50
(28,513.35)
(10,066.67)
(1,712.00)
(378.00)
(3,569.42)
(10,271.98)
(1,712.00)
(388.80)

0.50 0.58

0.59 0.60

0.71 0.73

0.76 0.11

0.31 1.49

1.72 2.10

2.10 2.13

2.07 2.21

2.25 4.69

4.59 4.65

4.72 4.63

4.52 4.36

5.52 5.63

4.49 4.60

4.41 4.34

4.41 4.22

4.60 4.19
223,781.63
223,917.08
223,938.23
224,158.28
173,622.23
213,950.03
165,029.55
212,401.58
37,997.16
(1,218.37)
(33,001.42)
(33,907.27)
(841.72)
(1,218.37)
(5,921.77)
(5,397.30)
(841.72)
DTD 07/27/2022 4.000% 07/27/2025

BANK OF AMERICA CORP
DTD 07/30/2015 3.875% 08/01/2025

ABBOTT LABORATORIES (CALLABLE)
DTD 03/22/2017 3.875% 09/15/2025

BANK OF AMERICA CORP (CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025

JPMORGAN CHASE & CO (CALLABLE)
DTD 02/24/2022 2.595% 02/24/2026

UNITEDHEALTH GROUP INC (CALLABLE)
DTD 05/19/2021 1.150% 05/15/2026

BMW US CAPITAL LLC (CALLABLE)
DTD 08/12/2021 1.250% 08/12/2026

CATERPILLAR FINL SERVICE
DTD 01/10/2022 1.700% 01/08/2027

TARGET CORP (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027

BANK OF NY MELLON CORP (CALLABLE)
DTD 01/26/2022 2.050% 01/26/2027

MICROSOFT CORP (CALLABLE)
06/15/25
12/06/24
02/24/25
04/15/26
07/12/26
(1,377.77)
(10,658.47)
(9,917.95)
(11,462.17)
(1,934.84)
(22,793.82)
12,823.50
9,215.40
(1,377.77)
(10,929.21)
(9,951.71)
(12,100.24)
(1,972.69)
(23,376.20)
1,111.15
12/15/26
12/24/26
11/06/26
02/01/27
02/15/27
451,151.68
734,766.00
286,418.40
454,667.63
DTD 02/06/2017 3.300% 02/06/2027

AMERICAN EXPRESS CO (CALLABLE)
DTD 03/04/2022 2.550% 03/04/2027

BERKSHIRE HATHAWAY FIN (CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027
(648.98)
475,000.00 SEEL (11,421.37) (16,099.89)
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 20 ends

Managed Account Fair Market Value & Analytics

CHARLES SCHWAB CORP (CALLABLE)
DTD 09/24/2021 3.300% 04/01/2027

NATIONAL AUSTRALIA BK/NY
DTD 06/09/2022 3.905% 06/09/2027

APPLE INC (CALLABLE)
808513BW4
63254ABE7
037833DB3
89236TKQ7
637432NP6
882508BV5
110122DE5
539830BZ1
24422EXB0
17325FBB3
009158BH8
17275RBR2
09290DAA9
09290DAA9
00724PAF6
00724PAF6
437076DC3
300,000.00 Barclays
500,000.00 CAS
01/01/27
06/12/27

96.99 98.67
290,970.60
493,346.00
745,971.60
376,078.50
337,274.00
85,522.50
6,045.60
5,021.00
4,908.85
(204.00)
8,085.00
(1,520.90)
9,831.00

38.70 (161.75)
272.72

2.22 2.41

2.64 2.90

2.97 2.96

2.96 3.14

3.30 3.42

3.77 3.80

3.85 3.85

3.90 3.90

4.03 4.63

4.43 4.26

4.49 4.57

4.34 4.48

4.44 4.51

4.68 4.50

4.49 4.49

4.49 4.45

4.45 4.54
775,000.00 TD Secur
375,000.00 WellsFar
350,000.00 MorganSt
85,000.00 JPMorgan
375,000.00 MAXE

96.25 (8,064.17)
245.45
DTD 09/12/2017 2.900% 09/12/2027
TOYOTA MOTOR CREDIT CORP 100.29

96.36 DTD 01/12/2023 4.625% 01/12/2028

NATIONAL RURAL UTIL COOP (CALLABLE)
DTD 02/07/2018 3.400% 02/07/2028

TEXAS INSTRUMENTS INC (CALLABLE)
DTD 11/18/2022 4.600% 02/15/2028

BRISTOL-MYERS SQUIBB CO (CALLABLE)
DTD 07/15/2020 3.900% 02/20/2028

LOCKHEED MARTIN CORP (CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028

JOHN DEERE CAPITAL CORP
11/07/27
01/15/28
11/20/27
04/15/28
984.78
100.61

98.16 (883.63)
4,293.06

7.57 368,094.75
60,000.00 Barclays 59,930.70
375,000.00 Citigrou
750,000.00 Barclays
340,000.00 Barclays
420,000.00 Citigrou
50,000.00 Citigrou
725,000.00 BOFAML
170,000.00 SEEL

99.88 101.37
103.89
100.24
101.24
100.67
100.67
101.27
101.27
100.72
380,127.38
779,149.50
340,824.50
425,208.00
50,336.85
2,262.38
32,869.50
1,276.70
5,355.00
427.35
2,992.64
32,154.78
1,216.75
5,335.85
416.89
DTD 07/14/2023 4.950% 07/14/2028
CITIBANK NA (CALLABLE) 08/29/28
01/08/29
01/26/29
02/14/29
02/14/29
03/04/29
03/04/29
05/25/29
DTD 09/29/2023 5.803% 09/29/2028

AIR PRODUCTS & CHEMICALS (CALLABLE)
DTD 02/08/2024 4.600% 02/08/2029

CISCO SYSTEMS INC (CALLABLE)
DTD 02/26/2024 4.850% 02/26/2029

BLACKROCK FUNDING INC (CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029

ADOBE INC (CALLABLE)
729,884.33
172,157.30
207,601.45
125,894.50
4,529.08
2,381.70
2,906.90
1,700.75
4,566.93
2,358.29
2,875.30
1,650.25
DTD 04/04/2024 4.800% 04/04/2029

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029

HOME DEPOT INC (CALLABLE)
205,000.00 BOFAML
125,000.00 MorganSt
DTD 06/25/2024 4.750% 06/25/2029
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 21 ends

Managed Account Fair Market Value & Analytics

HOME DEPOT INC (CALLABLE)
DTD 06/25/2024 4.750% 06/25/2029

AMERICAN HONDA FINANCE
437076DC3
02665WFQ9
250,000.00 PNCBank
400,000.00 Deutsche
05/25/29 100.72

98.33 251,789.00
393,335.60
3,161.50 3,074.97 4.03

4.28 4.54
(6,184.40) (6,198.21) 4.75
DTD 09/05/2024 4.400% 09/05/2029
Security Type Sub-Total
Certificate of Deposit
12,350,000.00 12,197,838.12 (89,083.88) (65,662.35) 2.35 4.54

TORONTO DOMINION BANK NY
DTD 10/31/2022 5.600% 10/27/2025

NORDEA BANK ABP NEW YORK
89115B6K1
65558UYF3
450,000.00 TD Secur
450,000.00 WellsFar
101.34
101.24
456,042.60
455,579.10
6,042.60
5,579.10
6,042.60
5,579.10

0.97 0.95

4.19 4.25
DTD 11/03/2022 5.530% 11/03/2025
Security Type Sub-Total
Bank Note
900,000.00 911,621.70 11,621.70 11,621.70 0.96 4.22

MORGAN STANLEY BANK NA (CALLABLE)
DTD 07/19/2024 4.968% 07/14/2028
61690U8E3 525,000.00 Citigrou 07/14/27 100.56 527,926.88 2,401.88 2,447.72 2.48 4.97 Security Type Sub-Total
Asset-Backed Security
525,000.00 527,926.88 2,401.88 2,447.72 2.48 4.97
NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
GMCAR 2021-4 A3
65480BAC1
89190GAC1
43815GAC3
14314QAC8
44935FAD6
362554AC1
11,508.46 SUMITR
9,174.08 Citigrou
23,262.97 BOFAML
3,544.82 BOFAML
15,320.89 SMBC

99.79 99.80

98.88 99.81

99.24 98.67
11,484.71
9,155.74
23,001.89
3,538.13
15,204.00
23,933.88
(23.56)
(17.36)
(256.18)
(5.92)
(23.71)
(18.11)
(259.64)
(6.48)

0.04 0.04

0.28 0.04

0.19 0.32

5.86 5.15

5.54 4.96

4.77 4.79
(113.47)
(321.05)
(115.72)
24,255.55 JPMorgan (321.44)
DTD 10/21/2021 0.680% 09/16/2026
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 22 ends

Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
Asset-Backed Security
CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
CHAIT 2023-A1 A
14318MAD1
65480JAC4
36265QAD8
891940AC2
14041NGB1
41285JAD0
344928AD8
43815QAC1
254683CY9
05522RDG0
02582JJZ4
14041NGD7
254683CZ6
438123AC5
31680EAD3
161571HT4
02582JKD1
148,926.53 RBC Capi
120,249.56 WellsFar
239,533.55 RBC Capi
245,000.00 BOFAML
245,000.00 RBC Capi
170,000.00 JPMorgan
130,000.00 BNPPSA
320,000.00 BOFAML
320,000.00 RBC Capi
170,000.00 BOFAML
190,000.00 RBC Capi
490,000.00 RBC Capi
350,000.00 BOFAML
85,000.00 JPMorgan
350,000.00 JPMorgan
405,000.00 JPMorgan
410,000.00 Citigrou

99.47 99.80
148,143.77
120,004.13
239,568.29
244,998.04
245,799.68
170,283.73
130,072.15
323,072.64
318,780.48
170,605.37
190,942.59
489,150.83
351,850.10
86,459.45
(779.24)
(220.54)

73.99 (780.93)
(231.77)

57.36 0.64

0.70 0.65

0.88 0.91

0.83 0.92

1.19 1.30

1.45 1.45

1.46 1.53

1.47 1.27

1.75 1.75

4.80 4.75

4.82 4.65

4.63 4.87

4.65 4.65

4.60 4.59

4.55 4.59

4.61 4.61

4.68 4.56

4.54 100.01
100.00
100.33
100.17
100.06
100.96

99.62 (1.84) (1.89)
838.12 822.63
300.85 294.84

85.71 81.30
3,138.62
(1,200.96)
643.86
3,121.10
(1,206.82)
100.36 633.09
100.50

99.83 959.44 954.71
(736.81)
1,897.38
1,474.42
3,888.85
4,923.27
5,189.25
(769.24)
1,884.60
1,471.44
3,883.67
4,900.37
5,374.54
100.53
101.72
101.10
101.19
101.26
353,867.15
409,811.00
415,170.92
DTD 09/15/2023 5.160% 09/15/2028
AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 23 ends

Managed Account Fair Market Value & Analytics

1.90 2.25

4.54 4.53
DTD 04/23/2024 5.230% 04/16/2029
Security Type Sub-Total 5,150,776.42 5,179,818.34
53,551,695.11
29,782.14
98,582.65
29,784.76 1.37

2.49 4.63
Managed Account Sub-Total 54,941,365.09 (149,710.61) 4.37 Joint Powers Authority
CAMP Pool 214,679.18 1.00 214,679.18 0.00 0.00 0.00
Liquid Sub-Total 214,679.18 214,679.18 0.00 0.00 0.00
Securities Sub-Total
Accrued Interest
$55,156,044.27 $53,766,374.29
$335,189.06
$54,101,563.35
$98,582.65 ($149,710.61) 2.49 4.37%
Total Investments
Bolded items are forward settling trades.

PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 24 ends

Managed Account Security Transactions & Interest

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Transaction Type Principal
Proceeds
Accrued
Interest
Realized G/L Realized G/L
Cost Amort Cost
Sale
Trade Method
BUY
Settle Security Description CUSIP Par Total
10/01/24 10/07/24 US TREASURY N/B 91282CCH2 2,400,000.00 (2,211,468.75) (8,070.65) (2,219,539.40) DTD 06/30/2021 1.250% 06/30/2028
10/31/24 11/05/24 US TREASURY N/B
DTD 01/02/2024 3.750%
12/31/2028
91282CJR3 1,200,000.00 (1,182,093.75) (15,652.17) (1,197,745.92) Transaction Type Sub-Total 3,600,000.00 (3,393,562.50) (23,722.82) (3,417,285.32)

INTEREST
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24 CHARLES SCHWAB CORP (CALLABLE)
DTD 09/24/2021 3.300% 04/01/2027
FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
FHMS K507 A2
808513BW4
3137HDV56
3137HBLV4
3137HDJJ0
3137HDXL9
3137HACX2
3137F1G44
3137HBC69
3137BXQY1
3137HB3D4
3137BTUM1
3137HAD45
3137HAMS2

0.00 0.00

0.00 4,950.00
1,730.67
1,104.90
2,201.38
1,873.99
2,208.71
1,486.38
1,597.53
1,477.67
760.35
4,950.00
1,730.67
1,104.90
2,201.38
1,873.99
2,208.71
1,486.38
1,597.53
1,477.67
760.35
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
1,039.76
1,737.43
2,000.00
1,039.76
1,737.43
2,000.00
DTD 09/01/2023 4.800% 09/01/2028
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 25 ends

Managed Account Security Transactions & Interest

INTEREST
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/04/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/04/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
FHMS K054 A2
DTD 04/01/2016 2.745% 01/01/2026
FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029

HOME DEPOT INC (CALLABLE)
DTD 03/28/2022 2.700% 04/15/2025
CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
COMET 2023-A1 A
3137BGK24 0.00 569.12 569.12
3137HAST4
3137HB3G7
3137HAQ74
3136BQDE6
3137BSP72
3137BNGT5
3137HAMH6
00724PAF6
437076CM2
161571HT4
254683CY9
31680EAD3
14318MAD1
05522RDH8
65480BAC1
14041NGD7

0.00 0.00

0.00 0.00
1,515.63
1,113.75
1,975.00
1,831.21
1,215.96
629.06
1,515.63
1,113.75
1,975.00
1,831.21
1,215.96
629.06
3,100.00
9,000.00
337.50
3,100.00
9,000.00
337.50
1,741.50
1,149.33
1,612.92
526.61
1,741.50
1,149.33
1,612.92
526.61
747.00 747.00

6.05 6.05
1,804.83 1,804.83
DTD 05/24/2023 4.420% 05/15/2028
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 26 ends

Managed Account Security Transactions & Interest

INTEREST
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/16/24
10/16/24
10/18/24
10/21/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/16/24
10/16/24
10/18/24
10/21/24
CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
HAROT 2023-3 A3
14314QAC8 0.00 3.04 3.04
02582JKD1
891940AC2
41285JAD0
65480JAC4
14041NGB1
89190GAC1
344928AD8
05522RDG0
44935FAD6
02582JKH2
254683CZ6
02582JJZ4
36265QAD8
362554AC1
43815QAC1
43815GAC3

0.00 0.00

0.00 0.00
1,786.92
945.29
715.42
476.33
1,010.63

4.22 1,786.92
945.29
715.42
476.33
1,010.63

4.22 503.75
678.58

11.60 503.75
678.58

11.60 2,157.37
1,437.92
771.08
1,031.47

15.70 2,157.37
1,437.92
771.08
1,031.47

15.70 1,442.67

19.91 1,442.67

19.91 DTD 08/22/2023 5.410% 02/18/2028
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 27 ends

Managed Account Security Transactions & Interest

INTEREST
10/21/24
10/25/24
10/31/24
10/21/24
10/25/24
10/31/24
HAROT 2023-4 A3 438123AC5 0.00 401.63 401.63
DTD 11/08/2023 5.670% 06/21/2028

TORONTO DOMINION BANK NY
DTD 10/31/2022 5.600% 10/27/2025

US TREASURY N/B
89115B6K1
91282CEN7

0.00 0.00
25,620.00
16,500.00
25,620.00
16,500.00
DTD 05/02/2022 2.750% 04/30/2027
Transaction Type Sub-Total

PAYDOWNS

0.00 108,577.77 108,577.77
10/01/24
10/01/24
10/01/24
10/01/24
10/01/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/16/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/16/24
FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
GMCAR 2021-4 A3
3136BQDE6
3137BGK24
3137HBC69
3137BTUM1
3137HAD45
44935FAD6
14314QAC8
89190GAC1
65480JAC4
65480BAC1
14318MAD1
362554AC1

3.30 3.32
24,731.14
1,008.33
771.02

0.00 0.00

3.32 24,731.14
1,008.33
771.02

0.08 0.06
24,731.14
1,008.33
771.02
(1,224.96)

0.01 (60.17)

0.01 14.57

0.01 0.28

0.20 0.28

0.91 0.04

0.13 0.04

23.73 340.18 340.18 340.18 0.01
3,492.34
3,464.83
10,310.56
7,910.56
10,475.04
10,251.11
3,458.65
3,492.34
3,464.82
10,310.56
7,910.56
10,475.04
10,251.11
3,458.65
3,492.34
3,464.82
10,310.56
7,910.56
10,475.04
10,251.11
3,458.65

0.78 0.74

1.11 1.63

0.17 0.24

0.09 DTD 10/21/2021 0.680% 09/16/2026
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 28 ends

Managed Account Security Transactions & Interest

PAYDOWNS
10/16/24
10/21/24
10/16/24
10/21/24
GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
HAROT 2021-4 A3
36265QAD8 17,265.03 17,265.03 0.00 17,265.03
3,893.83

2.83 0.82

1.66 43815GAC3 3,893.83 3,893.83 0.00 0.24
DTD 11/24/2021 0.880% 01/21/2026
Transaction Type Sub-Total
SELL
97,375.92 97,375.93 0.00 97,375.93 (1,192.72) (41.74)
10/01/24 10/07/24 US TREASURY N/B 912828U24 1,800,000.00 1,742,765.63 14,184.78 1,756,950.41 52,171.88 2,946.89 FIFO DTD 11/15/2016 2.000% 11/15/2026
10/31/24 11/05/24 US TREASURY N/B
DTD 11/15/2016 2.000%
11/15/2026
912828U24 1,025,000.00 983,039.06 9,692.93 992,731.99 20,339.84 (8,983.42) FIFO Transaction Type Sub-Total 2,825,000.00 2,725,804.69
(570,381.88)
($570,381.88)
23,877.71
108,732.66
$108,732.66
2,749,682.40
(461,649.22)
($461,649.22)
72,511.72
71,319.00
$71,319.00
(6,036.53)
(6,078.27)
($6,078.27)
Managed Account Sub-Total
Total Security Transactions
Bolded items are forward settling trades.

PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 29 ends

Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Trade
Date
Settlement
Date
Share or
Unit Price
Dollar Amount
of Transaction
Total
Transaction Description Shares Owned
CAMP Pool
Opening Balance
10/01/24
10/04/24
10/07/24
10/07/24
10/07/24
10/07/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
470,550.48
475,500.48
484,500.48
2,227,266.11
2,241,450.89
29,982.14
21,911.49
22,248.99
23,020.07
24,806.99
26,964.36
27,642.94
28,389.94
29,400.57
31,205.40
31,208.44
31,735.05
33,476.55
34,625.88
36,063.80
37,676.72
38,180.47
10/01/24
10/04/24
10/07/24
10/07/24
10/07/24
10/07/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
Purchase - Interest 808513BW4
Purchase - Interest 00724PAF6
Purchase - Principal 912828U24
Purchase - Interest 912828U24
Redemption - Principal 91282CCH2
Redemption - Interest 91282CCH2
Purchase - Interest 437076CM2
Purchase - Interest 02582JJZ4
Purchase - Interest 02582JKD1
Purchase - Interest 02582JKH2
Purchase - Interest 05522RDG0
Purchase - Interest 05522RDH8
Purchase - Interest 14041NGB1
Purchase - Interest 14041NGD7
Purchase - Interest 14314QAC8
Purchase - Interest 14318MAD1
Purchase - Interest 161571HT4
Purchase - Interest 254683CY9
Purchase - Interest 254683CZ6
Purchase - Interest 31680EAD3
Purchase - Interest 344928AD8

1.00 1.00

1.00 4,950.00
9,000.00
1,742,765.63
14,184.78
(2,211,468.75)
(8,070.65)
337.50
771.08
1,786.92
2,157.37
678.58
747.00
1,010.63
1,804.83

3.04 526.61
1,741.50
1,149.33
1,437.92
1,612.92
503.75
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 30 ends

Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Trade
Date
Settlement
Date
Share or
Unit Price
Dollar Amount
of Transaction
Total
Transaction Description Shares Owned
CAMP Pool
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/16/24
10/16/24
10/16/24
10/16/24
10/18/24
10/21/24
10/21/24
10/21/24
10/25/24
10/25/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/15/24
10/16/24
10/16/24
10/16/24
10/16/24
10/18/24
10/21/24
10/21/24
10/21/24
10/25/24
10/25/24
Purchase - Interest 41285JAD0
Purchase - Interest 44935FAD6
Purchase - Interest 65480BAC1
Purchase - Interest 65480JAC4
Purchase - Interest 89190GAC1
Purchase - Interest 891940AC2
Purchase - Principal 44935FAD6
Purchase - Principal 14314QAC8
Purchase - Principal 14318MAD1
Purchase - Principal 65480BAC1
Purchase - Principal 89190GAC1
Purchase - Principal 65480JAC4
Purchase - Interest 36265QAD8
Purchase - Interest 362554AC1
Purchase - Principal 362554AC1
Purchase - Principal 36265QAD8
Purchase - Interest 43815QAC1
Purchase - Interest 438123AC5
Purchase - Interest 43815GAC3
Purchase - Principal 43815GAC3
Purchase - Interest 89115B6K1
Purchase - Interest 3136BQDE6

1.00 1.00

1.00 1.00
715.42

11.60 38,895.89
38,907.49
38,913.54
39,389.87
39,394.09
40,339.38
43,831.72
47,296.55
57,547.66
68,022.70
78,333.26
86,243.82
87,275.29
87,290.99
90,749.64
108,014.67
109,457.34
109,858.97
109,878.88
113,772.71
139,392.71
141,223.92

6.05 476.33

4.22 945.29
3,492.34
3,464.83
10,251.11
10,475.04
10,310.56
7,910.56
1,031.47

15.70 3,458.65
17,265.03
1,442.67
401.63

19.91 3,893.83
25,620.00
1,831.21
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 31 ends

Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Trade
Date
Settlement
Date
Share or
Unit Price
Dollar Amount
of Transaction
Total
Transaction Description Shares Owned
CAMP Pool
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
10/25/24
Purchase - Interest 3137BGK24
Purchase - Interest 3137BNGT5
Purchase - Interest 3137BSP72
Purchase - Interest 3137BTUM1
Purchase - Interest 3137BXQY1
Purchase - Interest 3137F1G44
Purchase - Interest 3137HACX2
Purchase - Interest 3137HAD45
Purchase - Interest 3137HAMH6
Purchase - Interest 3137HAMS2
Purchase - Interest 3137HAQ74
Purchase - Interest 3137HAST4
Purchase - Interest 3137HB3D4
Purchase - Interest 3137HB3G7
Purchase - Interest 3137HBC69
Purchase - Interest 3137HBLV4
Purchase - Interest 3137HDJJ0
Purchase - Interest 3137HDV56
Purchase - Interest 3137HDXL9
Purchase - Principal 3137BGK24
Purchase - Principal 3137HAD45
Purchase - Principal 3137HBC69

1.00 1.00

1.00 1.00
569.12
629.06
141,793.04
142,422.10
143,638.06
144,677.82
146,155.49
147,641.87
149,850.58
151,588.01
154,688.01
156,688.01
158,663.01
160,178.64
160,938.99
162,052.74
163,650.27
164,755.17
166,956.55
168,687.22
170,561.21
195,292.35
195,632.53
196,640.86
1,215.96
1,039.76
1,477.67
1,486.38
2,208.71
1,737.43
3,100.00
2,000.00
1,975.00
1,515.63
760.35
1,113.75
1,597.53
1,104.90
2,201.38
1,730.67
1,873.99
24,731.14
340.18
1,008.33
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 32 ends

Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending October 31, 2024
Trade
Date
Settlement
Date
Share or
Unit Price
Dollar Amount
of Transaction
Total
Transaction Description Shares Owned
CAMP Pool
10/25/24
10/25/24
10/31/24
10/31/24
10/25/24
10/25/24
10/31/24
11/01/24
Purchase - Principal 3137BTUM1
Purchase - Principal 3136BQDE6
Purchase - Interest 91282CEN7

1.00 1.00

1.00 1.00
771.02

3.32 197,411.88
197,415.20
213,915.20
214,679.18
16,500.00
Accrual Income Div Reinvestment - Distributions 763.98
Closing Balance 214,679.18
Month of Fiscal YTD
October January-October
Opening Balance
Purchases
Redemptions (Excl. Checks)
Check Disbursements
470,550.48
1,963,668.10
(2,219,539.40)

0.00 116,772.96
18,894,810.08
(18,796,903.86)

0.00 Closing Balance
Average Monthly Balance
Monthly Distribution Yield
214,679.18
178,716.17

5.03%
Closing Balance 214,679.18 214,679.18
Cash Dividends and Income 763.98 8,162.51
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Page 33 ends

Review of Investment Performance
CAMP Accounts
City of Lake Elsinore
Investment Performance Review
For the Quarter Ended June 30, 2024
Client Management Team PFM Asset Management LLC
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public City of Lake Elsinore
Investment Performance Review
For the Quarter Ended September 30, 2024
PFM Asset Management LLC
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public Market Update
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Market Update
Current Market Themes
▸ The U.S. economy is characterized by:
▹ A labor market that reached better balance and supports consumer activity ▹ Inflation that has made meaningful progress towards the Federal Reserve’s (Fed) 2% target, although shelter costs remain a headwind
▹ Resilient economic growth and consumer spending that support the ‘soft landing’ scenario ▸ Fed begins the easing cycle
▹ The Fed cut the federal funds target rate by 50 basis points (bps) to 4.75% - 5.00% at its September FOMC meeting
▹ Fed officials note they have gained greater confidence the risks to their dual mandate are “roughly” in balance
▹ The Fed’s September “dot plot” implies 50 bps of additional cuts in 2024 and 100 bps through 2025
▸ Treasury yields continued their descent
▹ Yields on maturities between 3 months and 10 years fell 62-112 bps during the 3rd quarter ▹ The yield curve began to disinvert in the 3rd quarter as the spread between the 2-year and 10-year Treasury reached positive territory for the first time in over 2 years ▹ Despite intra-quarter spread widening, yield spreads across most credit sectors were range bound at tight levels, reflecting the strength of the economy Source: Bloomberg Finance L.P., as of September 30, 2024. 1 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Market Update
Inflation Trends Lower
Fed Chair Powell: “[H]ousing inflation is the … one piece that is kind of dragging a bit … it’s been slower than we expected”
Consumer Price Index (CPI)
Top-Line Contributions, Year-over-Year Changes
Shelter CPI Ex-Shelter Headline Shelter YoY% Headline CPI YoY% 10%
9%
8%
7%
6%
5%
4%
3%
2%
1%
0%
The shelter
component of CPI
continues to
remain outsized
accounting for
74% of the
Shelter Inflation increased

5.2% while CPI Ex-Shelter
increased 1.0% (YoY)
Aug-24

5.2% increase in the
headline figure
Aug-24

2.5%
Aug-21 Dec-21 Apr-22 Aug-22 Dec-22 Apr-23 Aug-23 Dec-23 Apr-24 Aug-24 Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; Bureau of Labor Statistics and Bloomberg Finance L.P., as of August 2024. 2 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Market Update
Labor Market Moves Into Better Balance
Fed Chair Powell: “…labor market conditions have cooled off by any measure … [but] the level of those conditions is actually pretty close to what I would call maximum employment” Monthly Change In
Nonfarm Payrolls
Unemployment Rate
500
450
400
350
300
250
200
150
100
50 5%
4%
3%
Nonfarm Payrolls 3-month Moving Average
Sept-24

4.1%
Sept-24
254
0 Sep-22 Sep-23 Sep-24 Sep-22 Sep-23 Sep-24
Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; Bureau of Labor Statistics and Bloomberg Finance L.P., as of September 2024. Data is seasonally adjusted. 3 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Market Update
Inflation and Labor Market Conditions Leave the Consumer Well-Positioned The “Misery Index” is a measure of economic distress and is calculated as the sum of CPI and the Unemployment Rate. The Fed’s long-run estimate of full employment at 4 - 5% and an inflation target of 2% would produce a Misery Index reading of 6 - 7%.

Misery Index
CPI Inflation + Unemployment Rate
18% Apr-2020

14.8% Unemployment
16%
14%
12%
10%
8%
Nov-2010

9.8% Unemployment
Jun-2022

9.1% Inflation
2000-2003
Driver: Unemployment creeps
higher and peaks at 6.3% in June
2003
Oct-2019
Historically Low
Unemployment and
Inflation
6% Sept-2024

6.7%
4%
Sep-94 Sep-97 Sep-00 Sep-03 Sep-06 Sep-09 Sep-12 Sep-15 Sep-18 Sep-21 Sep-24 Source: Bloomberg Finance L.P., as of September 2024.
4 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Market Update
Consumer Activity Remains Solid
Fed Chair Powell: “…if you look at the growth in economic activity data—the [September] retail sales data [and] second quarter GDP—all of this indicates an economy that is still growing at a solid pace.” U.S. GDP Forecasts U.S. Real Personal Consumption Expenditure Annualized Rate
Actual Range Median of Forecasts
$17,000

5.0%

4.5%

4.0%

3.5%

3.0%

2.5%

2.0%

1.5%

1.0%

0.5%

0.0%
Personal Consumption
is the main driver of
GDP and accounts for
69% of overall GDP
$16,000
$15,000
$14,000
$13,000
$12,000
$11,000

4.4%

3.2% Pre-pandemic

3.0% trend

2.0%

1.8%

1.4%

1.6%
Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 2025 2008 2010 2012 2014 2016 2018 2020 2022 2024 Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; (Left) Bureau of Economic Analysis and Bloomberg Finance L.P. as of September 2024. (Right) U.S. Census Bureau and Bloomberg Finance L.P., as of August 2024.
5 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Market Update
The Fed Begins the Cutting Cycle With 50bps
Fed Chair Powell: “[I]f we’d have gotten the July [jobs] report before the [July FOMC] meeting would we have cut, well we might have.”
Federal Funds Rate
Fed Funds Upper Bound Market Implied Fed Fund Rates Median FOMC Projections Average Cutting Cycle 6%
5%
4%
3%
2%
1%
0%
Dec-22
CPI Inflation

6.5%
Dec-23 Aug-24
CPI Inflation CPI Inflation

3.4% 2.5%
Dec-21
CPI Inflation

7.0%
2021 2022 2023 2024 2025
Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; Average Cutting Cycle represents the average change in the Fed Funds Rate for the first 10 months of a cutting cycle back to 1988. Market Implied Fed Funds as of September 30, 2024. Bloomberg Finance L.P. CPI inflation and Nonfarm payrolls from Bureau of Labor Statistics and Bloomberg Finance L.P. 6 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Market Update
U.S. Treasury Yields Fall as the Yield Curve Begins to Disinvert U.S. Treasury Yield Curve

6.00%

5.50%

5.00%

4.64%

4.50%

4.10%

4.00%

3.76%

3.63%

3.53% 1 Year Range

3.50%

3.00%

3.60%
September 30, 2024
June 30, 2024
3mo 2yr 5yr 7yr 10yr 20yr 30yr
Maturity
Source: Bloomberg Finance L.P., as of September 30, 2024 7 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Market Update
Sector Yield Spreads
Federal Agency Yield Spreads Corporate Notes A-AAA Yield Spreads

0.9% 0.2%

0.1%

0.0%
-0.1%
Bullet Callable 1 Year Average 1-5 Yr. AAA-A Corp 1 Year Average

0.7%

0.5%

0.3%
63 bps
3 bps
Jun-24 Jul-24 Aug-24 Sep-24 Jun-24 Jul-24 Aug-24 Sep-24 Mortgage-Backed Securities Yield Spreads Asset-Backed Securities AAA Yield Spreads

0.9%

0.7%

0.5%
AAA ABS 1 Year Average 0.7%

0.5%

0.3%
Agency MBS Agency CMBS Index 1 Year Average
53 bps 66 bps
Jun-24 Jul-24 Aug-24 Sep-24 Jun-24 Jul-24 Aug-24 Sep-24 Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of September 30, 2024. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.

CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index. 8 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Market Update
Factors to Consider for 6-12 Months
Monetary Policy (Global): Economic Growth (Global): Inflation (U.S.):
• The Fed has begun its easing cycle with a 50 basis
point (bp) cut. The FOMC’s September median “dot
plot” projection suggests an additional 50 bps in rate
cuts by the end of the year “if the economy performs
as expected”. The projections also calls for an
additional full percentage point of cuts in 2025.
• U.S. economic growth remains strong reflecting a
consumer who continues to spend at elevated
levels.
• Inflation continues its trend lower but has been
buoyed by stubborn housing costs.
• The broad-based inflation cooling helped fuel the
Fed’s decision to cut by 50 bps but policy makers
note they are not declaring victory on price stability. • Economic growth outside the U.S. remains mixed.
• China has moved forward with a package of
stimulus measures aimed to boost growth. The
country remains poised to take additional swift
action should it be deemed necessary.
• The global easing cycle is underway with nearly all
major central banks (excluding the Bank of Japan)
completing multiple rate cuts.

Financial Conditions (U.S.): Consumer Spending (U.S.): Labor Markets:
• The continuation of stable market measures, such
as narrow corporate yield spreads, record equity
index levels and low volatility, reflect economic
confidence.
• The consumer continues to spend and support
economic strength. Upward revisions to the
personal savings rate paint the consumer in better
light than previously thought but the trend of
consumers dipping into savings continues.
• The labor market continues to moderate from
extremely strong levels seen in prior quarters. The
recent downward revisions to nonfarm payrolls
through March 2024 further emphasized the
cooling.
• We remain focused on the cooling labor market and
effects this might have on the consumer as potential
catalysts for a broader slow down, but that is not our
base case expectation.
• Moderation in the pace of overall spending is
expected given slowing wage growth and cooling
labor market conditions.
• Other labor metrics remain well positioned such as
the layoffs and discharge rate pointing towards
moderation rather than deterioration.

Negative Slightly
Negative
Neutral Slightly
Positive
Positive Current outlook Outlook one quarter ago
Statements and opinions expressed about the next 6-12 months were developed based on our independent research with information obtained from Bloomberg and FactSet. The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution (9/30/2024) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its accuracy, completeness, or suitability. 9 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Market Update
Fixed-Income Sector Outlook – 4Q 2024
Sector Our Investment Preferences

C O M M E R C I A L P A P E R
/ C D

T R E A S U R I E S
T-Bill
T-Note

F E D E R A L A G E N C I E S
Bullets
Callables

S U P R A N A T I O N A L S

C O R P O R A T E S
Financials
Industrials

S E C U R I T I Z E D
Asset-Backed
Agency Mortgage-Backed
Agency CMBS

M U N I C I P A L S
Slightly
Negative
Slightly
Positive Current outlook Outlook one quarter ago Negative Neutral Positive 10 © PFM Asset Management LLC | pfmam.com
Portfolio Review
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Snapshot
Portfolio Snapshot¹
Portfolio Statistics Sector Allocation
Total Market Value
Managed Account Sub-Total
Accrued Interest
$54,426,229.11
$53,657,307.94
$298,370.69
$470,550.48
U.S. Treasury | 41%
Pool Corporate | 24%
Agency CMBS | 17%
ABS | 10%
Federal Agency | 4%
Municipal | 2%
Negotiable CD | 2%
JointPowers Authority | 1%
Portfolio Effective Duration
Benchmark Effective Duration
Yield At Cost

2.48 years

2.53 years

3.98%
Yield At Market 3.85%
Portfolio Credit Quality AA
Credit Quality - S&P Duration Distribution
Portfolio Benchmark
36%
AAA | 10%
AAAm | 1%
AA+ | 63%
AA| 4%
AA- | 5%
A-1+ | 1%
A+ | 5%
A | 5%
A- | 5%
BBB+ | 1%
Not Rated | 2%
40%
30%
20%
10%
0%
34% 35%
26%
23%
13% 12% 12%
4% 3%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs

1. Total market value includes accrued interest and balances invested in CAMP, as of September 30, 2024.

Yield and duration calculations exclude balances invested in CAMP.

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

An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio. 11 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Sector Analytics
Sector Allocation Analytics
U.S. Treasury I $22,385,957
Agency I $2,199,641

41.1%

4.0%
Agency CMBS I $8,960,611
Municipal I $1,217,867
Corporate I $12,949,916
Negotiable CD I $949,086
Asset-Backed I $5,292,600
CAMP I $470,550

16.5%

2.2%

23.8%

1.7%

0.9%

9.7%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Sector Limit for Analysis* Portfolio Allocation
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest. *Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided. 12 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Compliance
Certificate of Compliance
During the reporting period for the quarter ended September 30, 2024, the account(s) managed by PFM Asset Management ("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged : PFM Asset Management LLC
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Financial LP Asset and Investment Management ("AIM"). 13 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Portfolio Activity
Net Activity by Sector
($ millions)
Sector Net Activity
$894,132
$447,083
($161,650)
($374,825)
($728,051)
$76,689
Agency CMBS
Agency CMBS Corporate
Corporate
Municipal
ABS
Municipal
ABS
U.S. Treasury
Total Net Activity
U.S. Treasury
($4.0) ($2.0) $0.0 $2.0 $4.0
Sales/Maturities Purchases
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding. 14 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Characteristics
Historical Sector Allocation
1%
11% 10%
23%
2%
24%
2% 3% 2%
15% 17%
4% 4%
43% 41%
Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. 15 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Performance
Portfolio Performance
Portfolio Benchmark

8.0%

6.0%

4.0%

2.0%

0.0%
3 Months 1 Year 3 Years 5 Years 10 Years
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 Years¹ Interest Earned²
Change in Market Value
Total Dollar Return
Total Return³
$436,831
$1,362,587
$1,799,418
$1,574,076
$2,414,116
$3,988,192
$2,837,046
($115,586)
$2,721,460
$4,024,032
$203,919
$6,891,233
$838,439
$4,227,951 $7,729,672
Portfolio 3.42%

3.39%

0.03%

7.90%

7.44%

0.46%

1.06%

0.76%

0.30%

1.58%

1.28%

0.30%

1.78%

1.49%

0.29%
Benchmark⁴
Difference

1. The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is September 30, 2010.

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

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

4. The portfolio’s benchmark is the ICE BofA 1-5 Year U.S. Treasury Index. Source: Bloomberg Financial LP. 16 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Performance
Accrual Basis Earnings - CAMP-LAKE ELSINORE CITY FUNDS
Accrual Basis Earnings 3 Months 1 Year 3 Years 5 Year 10 Year¹ Interest Earned² $436,831
($21,014)
$87,346
$1,574,076
($448,383)
$379,468
$2,837,046
($1,122,630)
$700,209
$4,024,032
($284,677)
$615,956
$6,891,233
($436,504)
$555,860
Realized Gains / (Losses)³
Change in Amortized Cost
Total Earnings $503,164 $1,505,160 $2,414,625 $4,355,312 $7,010,589

1. The lesser of 10 years or since inception is shown. Performance inception date is September 30, 2010.

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

3. Realized gains / (losses) are shown on an amortized cost basis. 17 © PFM Asset Management LLC | pfmam.com
Issuer Distribution
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Summary
Issuer Diversification
Security Type / Issuer
U.S. Treasury
Market Value (%) S&P / Moody's / Fitch Security Type / Issuer Market Value (%) S&P / Moody's / Fitch

41.5% Corporate 24.0%
United States Treasury 41.5% AA / Aaa / AA Apple Inc 1.4%

0.8%

0.3%

0.9%

1.5%

0.7%

0.4%

0.6%

0.1%

0.8%

1.5%

0.7%

0.4%

0.8%

0.7%

0.4%

0.3%

0.1%

1.4%

1.0%

1.4%

0.7%

0.3%

0.8%

0.1%
AA / Aaa / NR

A / A / AA
A / Aa / AA

A / A / NR
AA / Aa / A
AA / Aa / NR

A / A / NR

A / A / A
Federal Agency 4.1% Bank of America Corp
Bank of New York Mellon Corp
Bayerische Motoren Werke AG
Berkshire Hathaway Inc
BlackRock Inc
Federal Home Loan Banks
Federal Home Loan Mortgage Corp
Federal National Mortgage Association
Agency CMBS

0.3%

2.0%

1.8%

16.6%
AA / Aaa / NR
AA / Aaa / AA
AA / Aaa / AA
Bristol-Myers Squibb Co
Caterpillar Inc
Federal Home Loan Mortgage Corp
Federal National Mortgage Association
Municipal

15.6%

1.0%

2.3%
AA / Aaa / AA
AA / Aaa / AA
Charles Schwab Corp
Cintas Corp

A / A / A

A / A / NR

AA / A / NR
A / Aa / A

A / A / A
California State University
New York State Urban Development Corp
San Juan Unified School District
State Board of Administration Finance C
State of California

0.2%

0.6%

0.2%

0.6%

0.4%

0.2%

1.8%
AA / Aa / NR

NR / NR / AA
NR / Aa / NR
AA / Aa / AA
AA / Aa / AA
AAA / Aaa / AAA
AA / Aa / AA
Cisco Systems Inc
Citigroup Inc
Deere & Co
General Dynamics Corp
Home Depot Inc

A / A / NR

A / A / A
State of Minnesota Honda Motor Co Ltd
International Business Machines Corp
JPMorgan Chase & Co
Lockheed Martin Corp
Microsoft Corp

A / A / NR
A / A / A University of California Board of Regen
Negotiable CD A / A / AA
Nordea Bank Abp A / A / A
Toronto-Dominion Bank
Corporate

0.9%

0.9%
AA / Aa / AA
A / A / NR AAA / Aaa / NR
A / Aa / AA
AA / Aa / NR

A / A / A

24.0% Morgan Stanley
Abbott Laboratories
Adobe Inc

0.4%

0.7%

0.6%

0.9%

0.7%
AA / Aa / NR

A / A / NR
National Australia Bank Ltd
National Rural Utilities Cooperative Fi
Air Products and Chemicals Inc PACCAR Inc
Amazon.com Inc

A / A / NR A / A / NR
AA / Aa / AA

A / A / A

AA / A / AA

BBB / A / A
Roche Holding AG
American Express Co Target Corp
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings, excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances invested in overnight funds.
18 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Summary
Issuer Diversification
Security Type / Issuer
Corporate
Market Value (%) S&P / Moody's / Fitch

24.0%
Texas Instruments Inc
Toyota Motor Corp

0.2%

0.7%

0.4%

9.8%
A / Aa / NR

A / A / A
United Services Automobile Association
UnitedHealth Group Inc
ABS
AA / Aa / NR

A / A / A
American Express Co 2.1%

0.7%

1.4%

0.3%

1.3%

0.7%

0.2%

0.5%

0.3%

0.8%

0.0%

0.8%

0.3%

0.5%
100.0%

AAA / NR / AAA
AAA / Aaa / AAA

AAA / NR / AAA

AAA / NR / AAA
AAA / Aaa / AAA
AAA / Aaa / NR

AAA / NR / AAA
AAA / Aaa / AAA
NR / Aaa / AAA
AAA / Aaa / AAA

AAA / NR / AAA

AAA / NR / AAA
AAA / Aaa / NR

AAA / NR / AAA
BA Credit Card Trust
Capital One Financial Corp
CarMax Inc
Discover Card Execution Note Trust
Fifth Third Auto Trust
Ford Credit Auto Owner Trust
GM Financial Consumer Automobile Receiv
Harley-Davidson Inc
Honda Auto Receivables Owner Trust
Hyundai Auto Receivables Trust
JPMorgan Chase & Co
Nissan Auto Receivables Owner Trust
Toyota Auto Receivables Owner Trust
Total
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings, excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances invested in overnight funds.
19 © PFM Asset Management LLC | pfmam.com
Portfolio Transactions
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
BUY
7/1/2024
7/16/2024
7/18/2024
8/1/2024
8/7/2024
9/3/2024
9/4/2024
7/3/2024
7/25/2024
7/19/2024
8/5/2024
8/15/2024
9/5/2024
9/6/2024
225,000.00
440,000.00
525,000.00
1,300,000.00
495,000.00
400,000.00
1,275,000.00
4,660,000.00
91282CCH2
3137HDV56
61690U8E3
91282CCH2
3137HDXL9
02665WFQ9
91282CCH2
US TREASURY N/B 1.25%

4.72%

4.96%

1.25%

4.54%

4.40%

1.25%
6/30/2028
5/1/2029
7/14/2028
6/30/2028
7/1/2029
9/5/2029
6/30/2028
198,664.53
444,086.57
525,525.00
1,175,550.61
500,504.76
399,520.00
1,172,309.23
4,416,160.70

4.49%

4.58%

4.94%

3.96%

4.33%

4.43%

3.59%
FHMS K524 A2

MORGAN STANLEY BANK NA (CALLABLE)

US TREASURY N/B
FHMS K526 A2

AMERICAN HONDA FINANCE

US TREASURY N/B
Total BUY

INTEREST
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/1/2024

0.00 7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
180,000.00
500,000.00
550,000.00
275,000.00
374,996.09
550,000.00
800,000.00
550,000.00
3137HB3D4
3137HAMS2
3136BQDE6
3137BNGT5
3137BTUM1
3137HACX2
3137HAMH6
3137HDJJ0
FHMS K510 A2
FHMS K507 A2
FNA 2023-M6 A2
FHMS K054 A2
FHMS K061 A2
FHMS K505 A2
FHMS K506 A2
FHMS K522 A2

5.06%

4.80%

4.18%

2.74%

3.34%

4.81%

4.65%

4.80%
10/1/2028
9/1/2028
7/1/2028
1/1/2026
11/1/2026
6/1/2028
8/1/2028
5/1/2029
760.35
2,000.00
1,920.42
629.06
1,045.93
2,208.71
3,100.00
2,201.38
20 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

INTEREST
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/8/2024
7/12/2024
7/14/2024
7/15/2024
7/15/2024
7/15/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/1/2024
550,000.00
550,000.00
396,745.88
275,000.00
550,000.00
290,000.00
375,000.00
500,000.00
437,290.60
243,868.94
310,000.00
225,000.00
375,000.00
375,000.00
192,683.47
40,000.00
3137F1G44
3137BXQY1
3137HBC69
3137HB3G7
3137BSP72
3137HBLV4
3137HAST4
3137HAQ74
3137HAD45
3137BGK24
341271AD6
14913R2U0
89236TKQ7
24422EXB0
14318MAD1
87612EBM7
161571HT4
FHMS K065 A2 3.24%

3.22%

4.85%

4.86%

2.65%

4.57%

4.85%

4.74%

4.77%

3.06%

1.25%

1.70%

4.62%

4.95%

3.97%

1.95%

5.16%
4/1/2027
3/1/2027
5/1/2028
10/1/2028
8/1/2026
12/1/2028
9/1/2028
8/1/2028
6/1/2028
12/1/2024
7/1/2025
1/8/2027
1/12/2028
7/14/2028
4/15/2027
1/15/2027
9/15/2028
1,486.38
1,477.67
1,606.16
1,113.75
1,215.96
1,104.90
1,515.63
1,975.00
1,740.78
622.27
FHMS K064 A2
FHMS KJ48 A1
FHMS K511 A2
FHMS K058 A2
FHMS K514 A2
FHMS K509 A2
FHMS K508 A2
FHMS KJ46 A1
FHMS K043 A2

FLORIDA ST BRD OF ADM

CATERPILLAR FINL SERVICE

TOYOTA MOTOR CREDIT CORP

JOHN DEERE CAPITAL CORP
CARMX 2022-3 A3

TARGET CORP (CALLABLE)
CHAIT 2023-A1 A
1,949.90
1,912.50
8,671.88
9,281.25
637.46
7/8/2024
7/12/2024
7/14/2024
7/15/2024
7/15/2024
7/15/2024
390.00
405,000.00 1,741.50
21 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

INTEREST
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
180,000.00
495,000.00
320,000.00
170,000.00
350,000.00
195,000.00
18,597.95
30,240.83
245,000.00
490,000.00
350,000.00
56,309.69
52,903.10
130,000.00
2,412.88
05522RDH8
02582JKH2
254683CY9
41285JAD0
254683CZ6
254683CP8
14314QAC8
44935FAD6
14041NGB1
14041NGD7
31680EAD3
65480BAC1
89190GAC1
344928AD8
44933LAC7
05522RDG0
02582JKD1
BACCT 2023-A2 A2
AMXCA 2024-1 A
DCENT 2023-A1 A
HDMOT 2023-A A3
DCENT 2023-A2 A
DCENT 2021-A1 A1
CARMX 2021-2 A3
HART 2021-C A3
COMET 2022-A3 A
COMET 2023-A1 A
FITAT 2023-1 A3
NAROT 2021-A A3
TAOT 2021-B A3
FORDO 2023-A A3
HART 2021-A A3
BACCT 2023-A1 A1
AMXCA 2023-3 A

4.98%

5.23%

4.31%

5.05%

4.93%

0.58%

0.52%

0.74%

4.95%

4.42%

5.53%

0.33%

0.26%

4.65%

0.38%

4.79%

5.23%
11/15/2028
4/16/2029
3/15/2028
12/15/2027
6/15/2028
9/15/2026
2/17/2026
5/15/2026
10/15/2027
5/15/2028
8/15/2028
10/15/2025
11/17/2025
2/15/2028
9/15/2025
5/15/2028
9/15/2028
747.00
2,157.37
1,149.33
715.42
1,437.92

94.25 8.06

18.65 1,010.63
1,804.83
1,612.92

15.49 11.46
503.75

0.76 170,000.00
410,000.00
678.58
1,786.92
22 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

INTEREST
7/15/2024
7/15/2024
7/15/2024
7/16/2024
7/16/2024
7/18/2024
7/21/2024
7/21/2024
7/21/2024
7/26/2024
7/27/2024
7/31/2024
8/1/2024
7/15/2024
7/15/2024
7/15/2024
7/16/2024
7/16/2024
7/18/2024
7/21/2024
7/21/2024
7/21/2024
7/26/2024
7/27/2024
7/31/2024
8/1/2024
190,000.00
140,000.00
245,000.00
275,000.00
38,017.70
02582JJZ4
65480JAC4
891940AC2
36265QAD8
362554AC1
43815QAC1
43815GAC3
438123AC5
3137EAEU9
06406RBA4
459200KS9
91282CFB2
60412AK85
06051GFS3
798306WP7
3137HAQ74
3137BNGT5
AMXCA 2023-1 A 4.87%

4.46%

4.63%

4.82%

0.68%

5.41%

0.88%

5.67%

0.37%

2.05%

4.00%

2.75%

0.63%

3.87%

0.85%

4.74%

2.74%
5/15/2028
5/17/2027
9/15/2027
8/16/2027
9/16/2026
2/18/2028
1/21/2026
6/21/2028
7/21/2025
1/26/2027
7/27/2025
7/31/2027
8/1/2025
771.08
NAROT 2022-B A3
TAOT 2023-A A3
520.33
945.29
GMCAR 2022-4 A3
GMCAR 2021-4 A3
HAROT 2023-3 A3
1,104.58

21.54 320,000.00
39,957.53
1,442.67
HAROT 2021-4 A3 29.30
85,000.00 HAROT 2023-4 A3 401.63
425,000.00
475,000.00
225,000.00
2,200,000.00
100,000.00
225,000.00
130,000.00
500,000.00
275,000.00
FREDDIE MAC 796.88

BANK OF NY MELLON CORP (CALLABLE)

IBM CORP
4,868.75
4,500.00
30,250.00
315.00

US TREASURY N/B

MINNESOTA ST-F-UNREF

BANK OF AMERICA CORP

SAN JUAN CA UNIF SCH
FHMS K508 A2
8/1/2024 8/1/2024 8/1/2025 4,359.38
8/1/2024 8/1/2024 8/1/2025 553.80
8/1/2024 8/25/2024
8/25/2024
8/1/2028 1,975.00
8/1/2024 FHMS K054 A2 1/1/2026 629.06
23 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

INTEREST
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
550,000.00
800,000.00
180,000.00
290,000.00
550,000.00
3137HACX2
3137HAMH6
3137HB3D4
3137HBLV4
3136BQDE6
3137HDV56
3137HB3G7
3137HAD45
3137HBC69
3137F1G44
3137BSP72
3137HAST4
3137BXQY1
3137HAMS2
3137HDJJ0
3137BTUM1
3137BGK24
FHMS K505 A2
FHMS K506 A2
FHMS K510 A2
FHMS K514 A2
FNA 2023-M6 A2
FHMS K524 A2
FHMS K511 A2
FHMS KJ46 A1
FHMS KJ48 A1
FHMS K065 A2
FHMS K058 A2
FHMS K509 A2
FHMS K064 A2
FHMS K507 A2
FHMS K522 A2
FHMS K061 A2
FHMS K043 A2

4.81%

4.65%

5.06%

4.57%

4.18%

4.72%

4.86%

4.77%

4.85%

3.24%

2.65%

4.85%

3.22%

4.80%

3.34%

3.06%
6/1/2028
8/1/2028
10/1/2028
12/1/2028
7/1/2028
5/1/2029
10/1/2028
6/1/2028
5/1/2028
4/1/2027
8/1/2026
9/1/2028
3/1/2027
9/1/2028
5/1/2029
11/1/2026
12/1/2024
2,208.71
3,100.00
760.35
1,104.90
1,920.42
1,730.67
1,113.75
1,739.65
1,603.18
1,486.38
1,215.96
1,515.63
1,477.67
2,000.00
2,201.38
1,043.80
621.15
275,000.00
437,007.09
396,010.63
550,000.00
550,000.00
375,000.00
550,000.00
500,000.00
550,000.00
374,232.24
243,429.67
24 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

INTEREST
8/6/2024 8/6/2024 750,000.00
175,000.00
350,000.00
340,000.00
175,000.00
41,837.50
26,433.00
245,000.00
195,000.00
14,680.52
85,000.00
140,000.00
170,000.00
190,000.00
405,000.00
350,000.00
130,000.00
594918BY9
69371RQ66
637432NP6
009158BH8
05565EBW4
89190GAC1
44935FAD6
14041NGB1
254683CP8
14314QAC8
882508BV5
65480JAC4
05522RDG0
02582JJZ4
161571HT4
31680EAD3
344928AD8

MICROSOFT CORP (CALLABLE)

PACCAR FINANCIAL CORP

NATIONAL RURAL UTIL COOP (CALLABLE)

AIR PRODUCTS & CHEMICALS (CALLABLE)

BMW US CAPITAL LLC (CALLABLE)
TAOT 2021-B A3

3.30%

1.80%

3.40%

4.60%

1.25%

0.26%

0.74%

4.95%

0.58%

0.52%

4.60%

4.46%

4.79%

4.87%

5.16%

5.53%

4.65%
2/6/2027 12,375.00
1,575.00
5,950.00
7,820.00
1,093.75

9.06 8/6/2024 8/6/2024 2/6/2025
8/7/2024 8/7/2024 2/7/2028
8/8/2024 8/8/2024 2/8/2029
8/12/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/12/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/12/2026
11/17/2025
5/15/2026
10/15/2027
9/15/2026
2/17/2026
2/15/2028
5/17/2027
5/15/2028
5/15/2028
9/15/2028
8/15/2028
2/15/2028
HART 2021-C A3 16.30
COMET 2022-A3 A 1,010.63
DCENT 2021-A1 A1 94.25
CARMX 2021-2 A3 6.36

TEXAS INSTRUMENTS INC (CALLABLE)
NAROT 2022-B A3
1,955.00
520.33
678.58
771.08
1,741.50
1,612.92
503.75
BACCT 2023-A1 A1
AMXCA 2023-1 A
CHAIT 2023-A1 A
FITAT 2023-1 A3
FORDO 2023-A A3
25 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

INTEREST
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/16/2024
8/16/2024
8/18/2024
8/20/2024
8/21/2024
8/21/2024
8/24/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/16/2024
8/16/2024
8/18/2024
8/20/2024
8/21/2024
8/21/2024
8/24/2024
45,158.46
320,000.00
245,000.00
350,000.00
495,000.00
170,000.00
490,000.00
181,875.52
410,000.00
180,000.00
275,000.00
34,572.96
65480BAC1
254683CY9
891940AC2
254683CZ6
02582JKH2
41285JAD0
14041NGD7
14318MAD1
02582JKD1
05522RDH8
36265QAD8
362554AC1
43815QAC1
110122DE5
438123AC5
43815GAC3
46647PCV6
NAROT 2021-A A3 0.33%

4.31%

4.63%

4.93%

5.23%

5.05%

4.42%

3.97%

5.23%

4.98%

4.82%

0.68%

5.41%

3.90%

5.67%

0.88%

2.59%
10/15/2025
3/15/2028
9/15/2027
6/15/2028
4/16/2029
12/15/2027
5/15/2028
4/15/2027
9/15/2028
11/15/2028
8/16/2027
9/16/2026
2/18/2028
2/20/2028
6/21/2028
1/21/2026
2/24/2026

12.42 DCENT 2023-A1 A 1,149.33
TAOT 2023-A A3 945.29
DCENT 2023-A2 A 1,437.92
2,157.38
715.42
AMXCA 2024-1 A
HDMOT 2023-A A3
COMET 2023-A1 A 1,804.83
CARMX 2022-3 A3 601.70
AMXCA 2023-3 A 1,786.92
BACCT 2023-A2 A2 747.00
GMCAR 2022-4 A3 1,104.58
GMCAR 2021-4 A3 19.59
320,000.00
375,000.00
85,000.00
HAROT 2023-3 A3 1,442.67
7,312.50
401.63

BRISTOL-MYERS SQUIBB CO (CALLABLE)
HAROT 2023-4 A3
35,727.02 HAROT 2021-4 A3 26.20
175,000.00 JPMORGAN CHASE & CO (CALLABLE) 2,270.63
26 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

INTEREST
8/25/2024
8/26/2024
8/31/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
8/25/2024
8/26/2024
8/31/2024
9/1/2024
350,000.00
420,000.00
3135G05X7
17275RBR2
91282CGP0
13063D3N6
3137HB3G7
3137HB3D4
3137BGK24
3137HDJJ0
3137BNGT5
3137BXQY1
3137BTUM1
3137HAMH6
3137HAST4
3137HAD45
3137HACX2
3137HBC69
3137HDV56
FANNIE MAE 0.37%

4.85%

4.00%

4.84%

4.86%

5.06%

3.06%

4.80%

2.74%

3.22%

3.34%

4.65%

4.85%

4.77%

4.81%

4.85%

4.72%
8/25/2025
2/26/2029
2/29/2028
3/1/2027
10/1/2028
10/1/2028
12/1/2024
5/1/2029
1/1/2026
3/1/2027
11/1/2026
8/1/2028
9/1/2028
6/1/2028
6/1/2028
5/1/2028
5/1/2029
656.25

CISCO SYSTEMS INC (CALLABLE)

US TREASURY N/B
CA ST
10,185.00
96,000.00
4,846.00
1,113.75
760.35
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
FHMS K511 A2
FHMS K510 A2
FHMS K043 A2
FHMS K522 A2
FHMS K054 A2
FHMS K064 A2
FHMS K061 A2
FHMS K506 A2
FHMS K509 A2
FHMS KJ46 A1
FHMS K505 A2
FHMS KJ48 A1
FHMS K524 A2
612.57
2,201.38
629.06
1,477.67
1,041.78
3,100.00
1,515.63
1,738.54
2,208.71
1,600.61
1,730.67
27 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

INTEREST
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/1/2024
9/4/2024
9/4/2024
9/4/2024
9/10/2024
9/12/2024
9/14/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/4/2024
3137HAQ74
3137HDXL9
3136BQDE6
3137F1G44
3137BSP72
3137HAMS2
3137HBLV4
025816CQ0
3130AK5E2
025816CS6
771196BT8
037833DB3
09290DAA9
65480BAC1
05522RDH8
254683CZ6
05522RDG0
FHMS K508 A2 4.74%

4.54%

4.18%

3.24%

2.65%

4.80%

4.57%

2.25%

0.37%

2.55%

2.13%

2.90%

4.70%

0.33%

4.98%

4.93%

4.79%
8/1/2028
7/1/2029
7/1/2028
4/1/2027
8/1/2026
9/1/2028
12/1/2028
3/4/2025
9/4/2025
3/4/2027
3/10/2025
9/12/2027
3/14/2029
10/15/2025
11/15/2028
6/15/2028
5/15/2028
1,975.00
1,873.99
1,920.42
1,486.38
1,215.96
2,000.00
1,104.90
900.00
FHMS K526 A2
FNA 2023-M6 A2
FHMS K065 A2
FHMS K058 A2
FHMS K507 A2
FHMS K514 A2

AMERICAN EXPRESS CO (CALLABLE)

FEDERAL HOME LOAN BANK

AMERICAN EXPRESS CO (CALLABLE)

ROCHE HOLDINGS INC (CALLABLE)

APPLE INC (CALLABLE)

BLACKROCK FUNDING INC (CALLABLE)
NAROT 2021-A A3
9/4/2024 281.25
9/4/2024 3,825.00
4,370.60
11,237.50
18,212.50

9.16 9/10/2024
9/12/2024
9/14/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
BACCT 2023-A2 A2 747.00
DCENT 2023-A2 A 1,437.92
BACCT 2023-A1 A1 678.58
28 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

INTEREST
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
31680EAD3
44935FAD6
02582JKH2
891940AC2
161571HT4
41285JAD0
89190GAC1
254683CY9
084664CZ2
344928AD8
02582JKD1
02582JJZ4
14318MAD1
002824BM1
14041NGD7
65480JAC4
14314QAC8
FITAT 2023-1 A3 5.53%

0.74%

5.23%

4.63%

5.16%

5.05%

0.26%

4.31%

2.30%

4.65%

5.23%

4.87%

3.97%

3.87%

4.42%

4.46%

0.52%
8/15/2028
5/15/2026
4/16/2029
9/15/2027
9/15/2028
12/15/2027
11/17/2025
3/15/2028
3/15/2027
2/15/2028
9/15/2028
5/15/2028
4/15/2027
9/15/2025
5/15/2028
5/17/2027
2/17/2026
1,612.92
HART 2021-C A3 13.97
AMXCA 2024-1 A 2,157.38
945.29
1,741.50
715.42

6.58 TAOT 2023-A A3
CHAIT 2023-A1 A
HDMOT 2023-A A3
TAOT 2021-B A3
DCENT 2023-A1 A 1,149.33
5,462.50
503.75
1,786.92
771.08
565.34
4,359.38
1,804.83
507.21

4.70 BERKSHIRE HATHAWAY FIN (CALLABLE)
FORDO 2023-A A3
AMXCA 2023-3 A
AMXCA 2023-1 A
CARMX 2022-3 A3

ABBOTT LABORATORIES (CALLABLE)
COMET 2023-A1 A
NAROT 2022-B A3
CARMX 2021-2 A3
29 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

INTEREST
9/15/2024
9/15/2024
9/15/2024
9/16/2024
9/16/2024
9/18/2024
9/21/2024
9/21/2024
9/23/2024
9/29/2024
9/15/2024
9/15/2024
9/15/2024
9/16/2024
9/16/2024
9/18/2024
9/21/2024
9/21/2024
9/23/2024
9/29/2024
650036DT0
14041NGB1
254683CP8
362554AC1
36265QAD8
43815QAC1
438123AC5
43815GAC3
3137EAEX3
17325FBB3
NY ST URBAN DEV-F-1
COMET 2022-A3 A
DCENT 2021-A1 A1
GMCAR 2021-4 A3
GMCAR 2022-4 A3
HAROT 2023-3 A3
HAROT 2023-4 A3
HAROT 2021-4 A3

FREDDIE MAC

0.87%

4.95%

0.58%

0.68%

4.82%

5.41%

5.67%

0.88%

0.37%

5.80%
3/15/2025
10/15/2027
9/15/2026
9/16/2026
8/16/2027
2/18/2028
6/21/2028
1/21/2026
9/23/2025
9/29/2028
1,413.75
1,010.63

94.25 17.61
1,090.53
1,442.67
401.63

22.99 1,312.50
21,761.25
445,429.63

CITIBANK NA (CALLABLE)
Total INTEREST

MATURITY
35,334,989.27 0.00
7/1/2024
7/8/2024
8/1/2024
8/12/2024
7/1/2024 60,000.00
400,000.00
100,000.00
70,000.00
630,000.00
20772KJW0
38141EC23
157411TK5
05565EBU8
CT ST TXBL GO BONDS 1.99%

3.85%

2.10%

0.75%
7/1/2024
7/8/2024
8/1/2024
8/12/2024
60,599.40
407,700.00
101,050.50
70,262.50
639,612.40
7/8/2024
8/1/2024
8/12/2024

GOLDMAN SACHS GROUP INC (CALLABLE) BONDS

CHAFFEY UHSD, CA TXBL GO BONDS

BMW US CAPITAL LLC CORPORATE NOTES
Total MATURITY 0.00
30 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

PAYDOWNS
7/1/2024
7/1/2024
7/1/2024
7/1/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/16/2024
7/21/2024
8/1/2024
8/1/2024
8/1/2024
8/1/2024
8/15/2024
7/25/2024
7/25/2024
7/25/2024
7/25/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/15/2024
7/16/2024
7/21/2024
8/25/2024
8/25/2024
8/25/2024
8/25/2024
8/15/2024
763.85 3137BTUM1
3137HAD45
3137HBC69
3137BGK24
89190GAC1
14318MAD1
65480BAC1
44933LAC7
14314QAC8
44935FAD6
362554AC1
43815GAC3
3137BGK24
3137HBC69
3137BTUM1
3137HAD45
65480JAC4
FHMS K061 A2
FHMS KJ46 A1

3.34%

4.77%

4.85%

3.06%

0.26%

3.97%

0.33%

0.38%

0.52%

0.74%

0.68%

0.88%

3.06%

4.85%

3.34%

4.77%

4.46%
11/1/2026
6/1/2028
763.85
283.51
735.25
283.51
FHMS KJ48 A1 5/1/2028 735.25
439.27 FHMS K043 A2
TAOT 2021-B A3
CARMX 2022-3 A3
NAROT 2021-A A3
HART 2021-A A3
CARMX 2021-2 A3
HART 2021-C A3
GMCAR 2021-4 A3
HAROT 2021-4 A3
FHMS K043 A2
FHMS KJ48 A1
12/1/2024
11/17/2025
4/15/2027
10/15/2025
9/15/2025
2/17/2026
5/15/2026
9/16/2026
1/21/2026
12/1/2024
5/1/2028
439.27
11,065.60
10,807.95
11,151.23
2,412.88
3,917.43
3,807.83
3,444.74
4,230.51
3,361.52
635.22
11,065.60
10,807.95
11,151.23
2,412.88
3,917.43
3,807.83
3,444.74
4,230.51
3,361.52
635.22
-14.02
721.55 FHMS K061 A2
FHMS KJ46 A1
11/1/2026
6/1/2028
721.55
278.50 278.50
3,530.57 NAROT 2022-B A3 5/17/2027 3,530.57
31 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

PAYDOWNS
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/16/2024
8/16/2024
8/21/2024
9/1/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/15/2024
8/16/2024
8/16/2024
8/21/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/25/2024
9/15/2024
9/15/2024
9/15/2024
9/15/2024
3,832.63 14314QAC8
14318MAD1
44935FAD6
65480BAC1
89190GAC1
36265QAD8
362554AC1
43815GAC3
3137BTUM1
3137HBC69
3137BGK24
3136BQDE6
3137HAD45
65480JAC4
14314QAC8
254683CP8
14318MAD1
CARMX 2021-2 A3
CARMX 2022-3 A3
HART 2021-C A3
NAROT 2021-A A3
TAOT 2021-B A3
GMCAR 2022-4 A3
GMCAR 2021-4 A3
HAROT 2021-4 A3
FHMS K061 A2

0.52%

3.97%

0.74%

0.33%

0.26%

4.82%

0.68%

0.88%

3.34%

4.85%

3.06%

4.18%

4.77%

4.46%

0.52%

0.58%

3.97%
2/17/2026
4/15/2027
5/15/2026
10/15/2025
11/17/2025
8/16/2027
9/16/2026
1/21/2026
11/1/2026
5/1/2028
3,832.63
10,991.08
3,783.02
11,839.30
11,483.78
3,497.73
3,503.08
4,381.43
723.97
10,991.08
3,783.02
11,839.30
11,483.78
3,497.73
3,503.08
4,381.43
723.97 14.21
9/1/2024 761.56 FHMS KJ48 A1 761.56
9/1/2024 17,031.27
24,443.39
280.00
FHMS K043 A2 12/1/2024
7/1/2028
17,031.27
24,443.39
280.00
-56.24
324.31

0.01 9/1/2024 FNA 2023-M6 A2
9/1/2024 FHMS KJ46 A1 6/1/2028
9/15/2024
9/15/2024
9/15/2024
9/15/2024
8,309.31
3,838.24
195,000.00
11,706.79
NAROT 2022-B A3
CARMX 2021-2 A3
DCENT 2021-A1 A1
CARMX 2022-3 A3
5/17/2027
2/17/2026
9/15/2026
4/15/2027
8,309.31
3,838.24
195,000.00
11,706.79

1.00 0.24

16.81 0.15
32 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)

PAYDOWNS
9/15/2024
9/15/2024
9/15/2024
9/16/2024
9/16/2024
9/21/2024
9/15/2024
9/15/2024
9/15/2024
9/16/2024
9/16/2024
9/21/2024
3,836.75 44935FAD6
89190GAC1
65480BAC1
36265QAD8
362554AC1
43815GAC3
HART 2021-C A3
TAOT 2021-B A3
NAROT 2021-A A3
GMCAR 2022-4 A3
GMCAR 2021-4 A3
HAROT 2021-4 A3

0.74%

0.26%

0.33%

4.82%

0.68%

0.88%
5/15/2026
11/17/2025
10/15/2025
8/16/2027
9/16/2026
1/21/2026
3,836.75
10,869.09
11,335.66
14,703.69
3,355.67

0.31 10,869.09
11,335.66
14,703.69
3,355.67

0.32 0.05

1.45 0.04
4,188.78 4,188.78 0.28
Total PAYDOWNS
SELL
425,283.63 425,283.63 288.92
7/1/2024
7/18/2024
8/1/2024
8/8/2024
8/15/2024
9/3/2024
9/4/2024
Total SELL
7/3/2024 50,000.00
450,000.00
1,100,000.00
350,000.00
50,000.00
912828YY0
912828U24
912828U24
912828U24
912828U24
912828U24
912828U24

US TREASURY N/B

1.75%

2.00%

2.00%
12/31/2024
11/15/2026
11/15/2026
11/15/2026
11/15/2026
11/15/2026
11/15/2026
49,143.85
428,597.48
1,053,726.39
337,148.44
48,113.28
-1,250.89
-4,107.03
-11,385.37
-2,093.14
-349.80
7/19/2024
8/5/2024
8/15/2024
8/15/2024
9/5/2024
9/6/2024
175,000.00
1,225,000.00
3,400,000.00
169,375.51
1,188,470.53
3,274,575.48
-604.79
-1,511.40
-21,302.42
33 © PFM Asset Management LLC | pfmam.com
Portfolio Holdings
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Holdings
Managed Account Detail of Securities Held
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
U.S. Treasury

US TREASURY N/B
DTD 06/30/2020 0.250% 06/30/2025
912828ZW3
912828U24
91282CEN7
91282CFB2
91282CFB2
91282CFB2
91282CFB2
91282CFZ9
91282CFZ9
91282CGP0
91282CGP0
91282CGP0
91282CGP0
91282CCH2
91282CCH2
50,000.00
6,600,000.00
1,200,000.00
375,000.00
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
4/1/2021 4/5/2021 49,031.25 0.71
6,198,843.75 3.72
1,155,421.88 3.70
362,329.10 3.62
786,779.30 3.97
565,640.63 4.30
373,265.62 4.44
1,170,501.95 3.98
1,184,109.38 4.24
393,640.63 4.45
2,383,390.63 4.79
602,507.81 3.89
1,335,287.11 4.30
2,565,253.91 4.39
1,169,364.26 3.59

31.59 49,829.67
6,377,613.67
1,172,884.28
366,544.55
48,581.25
6,379,573.20
1,175,016.00
366,533.25

US TREASURY N/B
DTD 11/15/2016 2.000% 11/15/2026
1/13/2023 1/17/2023
1/31/2023 2/3/2023
49,858.70
13,809.78
1,737.43
3,822.35
2,779.89
1,853.26
15,301.49
15,627.05
1,370.17
8,392.27
2,055.25
4,624.31
9,161.01
4,027.68

US TREASURY N/B
DTD 05/02/2022 2.750% 04/30/2027

US TREASURY N/B
DTD 08/01/2022 2.750% 07/31/2027
5/1/2023
6/2/2023
7/3/2023
3/2/2023
1/2/2024
5/5/2023
6/6/2023
7/7/2023
3/6/2023
1/5/2024

US TREASURY N/B
DTD 08/01/2022 2.750% 07/31/2027
825,000.00 798,956.48 806,373.15

US TREASURY N/B
DTD 08/01/2022 2.750% 07/31/2027
600,000.00 576,098.84 586,453.20

US TREASURY N/B
DTD 08/01/2022 2.750% 07/31/2027
400,000.00 382,825.49 390,968.80

US TREASURY N/B
DTD 11/30/2022 3.875% 11/30/2027
1,175,000.00
1,200,000.00
400,000.00
1,171,354.21
1,187,394.46
394,439.46
1,184,867.65
1,210,077.60
405,281.20

US TREASURY N/B
DTD 11/30/2022 3.875% 11/30/2027
12/1/2023 12/5/2023

US TREASURY N/B
DTD 02/28/2023 4.000% 02/29/2028
4/3/2024
5/1/2024
2/2/2024
3/1/2024
4/5/2024
5/6/2024
2/6/2024
3/6/2024

US TREASURY N/B
DTD 02/28/2023 4.000% 02/29/2028
2,450,000.00
600,000.00
2,389,877.29
602,105.61
2,482,347.35
US TREASURY N/B 607,921.80
DTD 02/28/2023 4.000% 02/29/2028

US TREASURY N/B
DTD 02/28/2023 4.000% 02/29/2028
1,350,000.00
2,900,000.00
1,275,000.00
1,337,400.51
2,588,515.87
1,171,125.25
1,367,824.05
2,663,354.20
1,170,957.45

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
6/6/2024 6/11/2024
US TREASURY N/B 9/4/2024 9/6/2024
DTD 06/30/2021 1.250% 06/30/2028
34 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
U.S. Treasury

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
91282CCH2
91282CCH2
225,000.00
1,300,000.00
22,925,000.00
AA+
AA+
Aaa
Aaa
7/1/2024
8/1/2024
7/3/2024
8/5/2024
198,641.60 4.49
1,173,960.94 3.96
21,667,969.75 4.06
710.77 200,133.76
1,178,622.09
21,945,721.49
206,639.55
1,193,917.40
22,246,687.10

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
4,106.66
Security Type Sub-Total 139,269.66
Negotiable CD

TORONTO DOMINION BANK NY
DTD 10/31/2022 5.600% 10/27/2025
89115B6K1
65558UYF3
450,000.00
450,000.00
900,000.00
A- A2 10/27/2022 10/31/2022
11/2/2022 11/3/2022
450,000.00 5.60
450,000.00 5.53
900,000.00 5.57
23,940.00
10,230.50
34,170.50
450,000.00
450,000.00
900,000.00
457,599.60
457,315.65
914,915.25

NORDEA BANK ABP NEW YORK
DTD 11/03/2022 5.530% 11/03/2025
A-1+ P-1
Security Type Sub-Total
Municipal
NY ST URBAN DEV-F-1
DTD 12/23/2020 0.870% 03/15/2025
650036DT0
91412HGE7
325,000.00
85,000.00
NR
AA
NR 12/16/2020 12/23/2020
7/10/2020 7/16/2020
325,000.00 0.87
85,000.00 0.88
125.67
283.54
325,000.00
85,000.00
319,537.40
UNIV OF CALIFORNIA-BG 83,215.26
(CALLABLE)
Aa2
DTD 07/16/2020 0.883% 05/15/2025

FLORIDA ST BRD OF ADM
DTD 09/16/2020 1.258% 07/01/2025
341271AD6
341271AD6
341271AD6
798306WP7
60412AK85
13077DQD7
160,000.00
85,000.00
65,000.00
130,000.00
100,000.00
85,000.00
AA
AA
Aa3
Aa3
Aa3
9/3/2020 9/16/2020
9/3/2020 9/16/2020
9/3/2020 9/16/2020
160,000.00 1.26
85,563.55 1.12
65,459.55 1.11
130,000.00 0.85
100,000.00 0.63
85,000.00 0.86
503.20
267.33
204.43
184.60
105.00
305.29
160,000.00
85,088.21
65,071.93
130,000.00
100,000.00
85,000.00
156,179.36
82,970.29
63,447.87
126,212.06
97,177.00
81,980.46

FLORIDA ST BRD OF ADM
DTD 09/16/2020 1.258% 07/01/2025

FLORIDA ST BRD OF ADM
DTD 09/16/2020 1.258% 07/01/2025
AA

SAN JUAN CA UNIF SCH
DTD 10/29/2020 0.852% 08/01/2025
NR
AAA
AAAa2 10/16/2020 10/29/2020

MINNESOTA ST-F-UNREF
DTD 08/25/2020 0.630% 08/01/2025
Aaa
Aa2
5/7/2024 5/7/2024
CALIFORNIA ST UNIV-B 7/9/2021 7/29/2021
DTD 07/29/2021 0.862% 11/01/2025
35 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Municipal
CA ST 13063D3N6 200,000.00 AA- Aa2 3/9/2023 3/15/2023 200,000.00 4.85 807.67 200,000.00 204,360.40 DTD 03/15/2023 4.846% 03/01/2027
Security Type Sub-Total 1,235,000.00 1,236,023.10 1.60 2,786.73 1,235,160.14 1,215,080.10 Joint Powers Authority
CAMP Pool 470,550.48 AAAm NR 470,550.48 0.00 470,550.48 470,550.48 Security Type Sub-Total
Federal Agency
470,550.48 470,550.48 0.00 470,550.48 470,550.48

FREDDIE MAC
DTD 07/23/2020 0.375% 07/21/2025
3137EAEU9
3135G05X7
3130AK5E2
3137EAEX3
3135G06G3
425,000.00
350,000.00
150,000.00
700,000.00
650,000.00
2,275,000.00
AA+
AA+
AA+
AA+
AA+
Aaa
Aaa
Aaa
Aaa
Aaa
7/21/2020 7/23/2020
8/25/2020 8/27/2020
9/10/2020 9/11/2020
9/23/2020 9/25/2020
11/9/2020 11/12/2020
422,883.50 0.48
348,362.00 0.47
149,550.00 0.44
697,893.00 0.44
647,673.00 0.57
2,266,361.50 0.49
309.90
131.25

42.19 424,658.63
349,704.83
149,916.42
699,587.51
649,486.63
2,273,354.02
412,794.85
338,664.55
145,061.40
675,788.40
625,490.45
2,197,799.65

FANNIE MAE
DTD 08/27/2020 0.375% 08/25/2025

FEDERAL HOME LOAN BANK
DTD 09/11/2020 0.375% 09/04/2025

FREDDIE MAC
DTD 09/25/2020 0.375% 09/23/2025

58.33 FANNIE MAE
DTD 11/12/2020 0.500% 11/07/2025
1,300.00
Security Type Sub-Total 1,841.67
Corporate

PACCAR FINANCIAL CORP
DTD 02/06/2020 1.800% 02/06/2025
69371RQ66 175,000.00
80,000.00
410,000.00
25,000.00
A+
BBB+
AA
A1
A2
10/22/2020 10/29/2020 182,894.25 0.72
79,919.20 2.29
410,000.00 2.13
24,956.25 2.76
481.25
135.00
509.90
311.25
175,642.02
79,988.55
410,000.00
24,992.26
173,136.78
79,168.80
405,601.52
24,731.68
AMERICAN EXPRESS CO (CALLABLE) 025816CQ0
DTD 03/04/2022 2.250% 03/04/2025
3/1/2022 3/4/2022

ROCHE HOLDINGS INC (CALLABLE)
DTD 03/10/2022 2.132% 03/10/2025
771196BT8 Aa2
A2
3/3/2022 3/10/2022
HOME DEPOT INC (CALLABLE) 3/24/2022 3/28/2022
DTD 03/28/2022 2.700% 04/15/2025
437076CM2 A
36 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Corporate
CINTAS CORPORATION NO. 2
(CALLABLE)
17252MAP5 65,000.00 A- A3 4/26/2022 5/3/2022 64,985.70 3.46 934.38 64,997.21 64,517.90 DTD 05/03/2022 3.450% 05/01/2025

USAA CAPITAL CORP
DTD 05/26/2022 3.375% 05/01/2025
90327QD89
369550BG2
225,000.00
225,000.00
AA
A
Aa1
A2
5/23/2022 5/26/2022
10/16/2020 10/20/2020
224,264.25 3.49
252,247.50 0.80
3,164.06
2,975.00
224,853.55
227,819.30
223,385.85
GENERAL DYNAMICS CORP 223,671.60
(CALLABLE)
DTD 05/11/2018 3.500% 05/15/2025
AMAZON.COM INC (CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025
023135BQ8
63254ABD9
63743HFE7
459200KS9
06051GFS3
002824BM1
475,000.00
250,000.00
50,000.00
AA
AAAA1Aa2
A2
6/3/2020 6/5/2020 474,767.25 0.81
250,000.00 3.50
49,986.50 3.92
225,000.00 4.00
256,918.50 0.93
257,845.50 0.86
1,245.56
2,722.22
507.92
474,968.67
250,000.00
49,996.94
463,885.48
248,218.00
49,636.30

NATIONAL AUSTRALIA BK/NY
DTD 06/09/2022 3.500% 06/09/2025
5/31/2022 6/9/2022
4/27/2022 5/4/2022
7/20/2022 7/27/2022
8/18/2020 8/20/2020
9/24/2020 9/28/2020

NATIONAL RURAL UTIL COOP
DTD 05/04/2022 3.450% 06/15/2025

IBM CORP
DTD 07/27/2022 4.000% 07/27/2025
225,000.00
225,000.00
225,000.00
A- A3 1,600.00
1,453.13
387.50
225,000.00
230,376.50
229,916.18
224,012.25
224,220.37
224,480.70

BANK OF AMERICA CORP
DTD 07/30/2015 3.875% 08/01/2025
A- A1

ABBOTT LABORATORIES
(CALLABLE)
AA- Aa3
DTD 03/22/2017 3.875% 09/15/2025

BANK OF AMERICA CORP
(CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025
06051GKE8
46647PCV6
91324PEC2
225,000.00
175,000.00
225,000.00
AAA1
A1
A2
12/1/2021 12/6/2021
2/16/2022 2/24/2022
5/17/2021 5/19/2021
225,000.00 1.53
175,000.00 2.60
224,608.50 1.19
1,099.69
466.74
977.50
225,000.00
175,000.00
224,872.70
223,416.90
173,269.43
215,113.50

JPMORGAN CHASE & CO
(CALLABLE)
DTD 02/24/2022 2.595% 02/24/2026

UNITEDHEALTH GROUP INC
(CALLABLE)
A+
DTD 05/19/2021 1.150% 05/15/2026

BMW US CAPITAL LLC (CALLABLE)
DTD 08/12/2021 1.250% 08/12/2026
05565EBW4
14913R2U0
175,000.00
225,000.00
A
A
A2
A2
8/12/2021 8/16/2021
1/11/2022 1/13/2022
174,947.50 1.26
223,863.75 1.81
297.74
881.88
174,980.39
224,482.83
165,964.05
CATERPILLAR FINL SERVICE 214,240.50
DTD 01/10/2022 1.700% 01/08/2027
37 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Corporate

TARGET CORP (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7
06406RBA4
40,000.00 A
A
A2 1/19/2022 1/24/2022
1/26/2022 1/28/2022
39,932.00 1.99
473,945.50 2.10
164.67 39,968.71 38,416.72

BANK OF NY MELLON CORP
(CALLABLE)
475,000.00 Aa3 1,758.16 474,510.28 454,714.18
DTD 01/26/2022 2.050% 01/26/2027

MICROSOFT CORP (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
594918BY9 750,000.00
300,000.00
475,000.00
AAA
BBB+
AA
Aaa
A2
3/14/2023 3/17/2023
1/13/2023 1/18/2023
3/15/2022 3/17/2022
721,942.50 4.36
277,203.00 4.59
466,089.00 2.70
3,781.25
573.75
485.56
733,053.19
286,607.15
470,618.84
742,950.00
289,546.80
459,626.15
AMERICAN EXPRESS CO (CALLABLE) 025816CS6
DTD 03/04/2022 2.550% 03/04/2027

BERKSHIRE HATHAWAY FIN
(CALLABLE)
084664CZ2 Aa2
DTD 03/15/2022 2.300% 03/15/2027

CHARLES SCHWAB CORP
(CALLABLE)
808513BW4 300,000.00 A- A2 2/17/2023 2/22/2023 284,925.00 4.66 4,950.00 290,826.57 293,891.10 DTD 09/24/2021 3.300% 04/01/2027

NATIONAL AUSTRALIA BK/NY
DTD 06/09/2022 3.905% 06/09/2027
63254ABE7
037833DB3
89236TKQ7
637432NP6
500,000.00
775,000.00
375,000.00
350,000.00
AAAA+
A+
Aa2
Aaa
A1
1/13/2023 1/18/2023
1/19/2023 1/23/2023
2/8/2023 2/10/2023
2/17/2023 2/22/2023
488,325.00 4.50
741,062.75 3.94
376,282.50 4.55
329,189.00 4.76
6,074.44
1,186.18
3,805.99
1,785.00
492,851.74
753,425.75
375,854.76
335,939.46
499,276.50
757,381.92
381,775.88
342,185.90

APPLE INC (CALLABLE)
DTD 09/12/2017 2.900% 09/12/2027

TOYOTA MOTOR CREDIT CORP
DTD 01/12/2023 4.625% 01/12/2028

NATIONAL RURAL UTIL COOP
(CALLABLE)
A- A1
DTD 02/07/2018 3.400% 02/07/2028

TEXAS INSTRUMENTS INC
(CALLABLE)
DTD 11/18/2022 4.600% 02/15/2028
882508BV5
110122DE5
539830BZ1
61690U8E3
85,000.00
375,000.00
60,000.00
525,000.00
A+
A
Aa3
A2
5/11/2023 5/18/2023
3/9/2023 3/13/2023
5/23/2023 5/25/2023
7/18/2024 7/19/2024
87,043.40 4.04
358,263.75 4.93
59,892.00 4.49
525,525.00 4.94
499.61
1,665.63
1,008.67
5,216.40
86,442.69
363,519.14
59,921.32
525,492.97
86,771.74
373,561.50
60,942.72
535,501.05

BRISTOL-MYERS SQUIBB CO
(CALLABLE)
DTD 07/15/2020 3.900% 02/20/2028

LOCKHEED MARTIN CORP
(CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
AA+A2

MORGAN STANLEY BANK NA
(CALLABLE)
Aa3
DTD 07/19/2024 4.968% 07/14/2028
38 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Corporate

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0
17325FBB3
009158BH8
375,000.00
750,000.00
340,000.00
A
A+
A
A1
Aa3
A2
7/21/2023 7/25/2023
10/2/2023 10/4/2023
377,865.00 4.78
746,280.00 5.92
339,547.80 4.63
3,970.31
241.79
377,182.78
746,937.16
339,600.81
387,243.38
793,449.00
348,045.42

CITIBANK NA (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028

AIR PRODUCTS & CHEMICALS
(CALLABLE)
2/6/2024 2/8/2024 2,302.56
DTD 02/08/2024 4.600% 02/08/2029

CISCO SYSTEMS INC (CALLABLE)
DTD 02/26/2024 4.850% 02/26/2029
17275RBR2
09290DAA9
420,000.00
50,000.00
AAAAA1 2/21/2024 2/26/2024
3/5/2024 3/14/2024
419,853.00 4.86
49,909.50 4.74
1,980.42
110.97
419,869.92
49,918.58
434,195.58
BLACKROCK FUNDING INC 51,399.25
(CALLABLE)
Aa3
DTD 03/14/2024 4.700% 03/14/2029

BLACKROCK FUNDING INC
(CALLABLE)
09290DAA9 725,000.00 AA- Aa3 3/6/2024 3/14/2024 725,355.25 4.69 1,609.10 725,322.89 745,289.13 DTD 03/14/2024 4.700% 03/14/2029

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6
00724PAF6
437076DC3
437076DC3
02665WFQ9
205,000.00
170,000.00
125,000.00
250,000.00
400,000.00
12,875,000.00
A+
A+
A
A1
A1
A2
A2
A3
4/1/2024
4/2/2024
4/4/2024
4/4/2024
204,694.55 4.83
169,775.60 4.83
124,193.75 4.90
248,627.50 4.88
399,520.00 4.43
12,812,447.00 3.75
4,838.00
4,012.00
1,583.33
3,166.67
1,271.11
78,192.29
204,721.49
169,795.59
124,232.23
248,693.56
399,526.58
12,787,721.26
211,632.78
175,500.35
128,757.38
257,514.75
401,483.20
12,871,723.99

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029

HOME DEPOT INC (CALLABLE)
DTD 06/25/2024 4.750% 06/25/2029
6/17/2024 6/25/2024
HOME DEPOT INC (CALLABLE) 6/18/2024 6/25/2024
DTD 06/25/2024 4.750% 06/25/2029
A

AMERICAN HONDA FINANCE
DTD 09/05/2024 4.400% 09/05/2029
A- 9/3/2024 9/5/2024
Security Type Sub-Total
Agency CMBS
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24
3137BNGT5
223,036.87
275,000.00
AA+
AA+
Aaa
Aaa
3/19/2020 3/25/2020
4/11/2023 4/14/2023
234,084.16 1.91
263,613.28 4.32
569.12
629.06
223,579.55
269,608.09
221,761.55
FHMS K054 A2 269,867.40
DTD 04/01/2016 2.745% 01/01/2026
39 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Agency CMBS
FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
3137BSP72
3137BTUM1
3137BXQY1
3137F1G44
3137HBC69
3137HAD45
3137HACX2
3136BQDE6
3137HAQ74
3137HAMH6
3137HAMS2
3137HAST4
3137HB3D4
3137HB3G7
3137HBLV4
3137HDV56
3137HDJJ0
550,000.00
372,786.73
550,000.00
550,000.00
394,613.84
436,448.59
550,000.00
525,556.61
500,000.00
800,000.00
500,000.00
375,000.00
180,000.00
275,000.00
290,000.00
440,000.00
550,000.00
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
4/6/2023 4/12/2023
5/19/2023 5/24/2023
8/16/2023 8/18/2023
6/8/2023 6/13/2023
12/6/2023 12/14/2023
7/19/2023 7/27/2023
7/13/2023 7/20/2023
7/18/2023 7/31/2023
526,839.84 3.98
361,311.90 4.29
518,804.69 4.94
527,033.20 4.42
394,610.68 4.86
436,437.71 4.78
555,493.40 4.59
516,646.78 4.58
489,032.00 5.25
788,165.60 4.99
494,023.50 5.07
363,043.88 5.60
179,479.62 5.14
274,209.93 4.93
292,899.71 4.34
442,702.04 4.58
549,998.35 4.80
1,215.96
1,039.76
1,477.67
1,486.38
1,597.53
1,737.43
2,208.71
1,831.21
1,975.00
3,100.00
2,000.00
1,515.63
760.35
536,940.19
365,743.49
528,497.60
534,754.80
394,612.52
436,440.32
554,159.51
518,732.69
490,960.44
790,425.93
495,035.38
364,882.43
179,561.24
274,328.88
292,551.57
442,652.32
550,000.00
536,163.10
367,133.42
540,786.95
539,904.75
403,482.00
443,295.60
564,170.75
527,469.64
512,567.50
816,610.40
512,863.00
385,585.13
186,481.44
282,913.13
295,452.58
451,834.68
566,251.95
FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
Aaa 10/11/2023 10/19/2023
FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
Aaa
Aaa
9/7/2023 9/14/2023
FHMS K507 A2 9/20/2023 9/28/2023
DTD 09/01/2023 4.800% 09/01/2028
FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
Aaa 10/25/2023 10/31/2023
Aaa 11/14/2023 11/21/2023
Aaa 11/28/2023 12/7/2023
FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
1,113.75
1,104.90
1,730.67
2,201.38
FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
Aaa
Aaa
Aaa
2/1/2024 2/8/2024
FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
7/16/2024 7/25/2024
FHMS K522 A2 6/5/2024 6/13/2024
DTD 06/01/2024 4.803% 05/01/2029
40 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Agency CMBS
FHMS K526 A2 3137HDXL9 495,000.00 AA+ Aaa 8/7/2024 8/15/2024 499,630.23 4.33 1,873.99 499,523.52 504,844.06 DTD 08/01/2024 4.543% 07/01/2029
Security Type Sub-Total
ABS
8,832,442.64 8,708,060.50 4.66 31,168.50 8,742,990.47 8,929,439.03 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
65480BAC1
89190GAC1
43815GAC3
14314QAC8
44935FAD6
362554AC1
14318MAD1
65480JAC4
36265QAD8
891940AC2
14041NGB1
41285JAD0
344928AD8
43815QAC1
21,983.51
19,484.64
27,156.80
7,009.64
AAA
AAA
NR
Aaa
NR
6/15/2021 6/23/2021
6/8/2021 6/14/2021
21,983.13 0.33
19,482.54 0.26
27,151.08 0.89
7,008.13 0.52

3.22 2.25
21,983.42
19,484.11
27,155.01
7,009.21
21,901.46
19,412.82
26,802.71
6,983.35
TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
Aaa 11/16/2021 11/24/2021 6.64
CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
NR
NR
NR
4/13/2021 4/21/2021
11/9/2021 11/17/2021

1.62 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
18,813.23
27,714.20
159,177.63
128,160.12
256,798.58
245,000.00
245,000.00
170,000.00
130,000.00
320,000.00
18,809.03 0.75
27,713.49 0.68
159,173.87 3.97
128,133.60 4.46
256,756.49 4.82
244,999.88 4.63
244,961.56 4.95
169,982.88 5.05
129,986.44 4.65
319,934.02 5.42

6.19 18,811.71
27,713.92
159,175.62
128,145.09
256,773.60
244,999.92
244,976.40
169,988.59
129,990.61
319,950.31
18,639.75
27,304.11
158,448.76
128,052.72
257,152.71
245,589.72
246,514.84
170,745.62
130,325.39
324,601.92
GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
Aaa 10/13/2021 10/21/2021 7.85
CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
NR
Aaa
NR
NR
NR
Aaa
NR
NR
7/12/2022 7/20/2022
9/20/2022 9/28/2022
10/4/2022 10/12/2022
1/24/2023 1/30/2023
10/27/2022 11/3/2022
2/13/2023 2/23/2023
3/28/2023 3/31/2023
8/15/2023 8/22/2023
280.86
254.04
515.74
504.16
539.00
381.56
268.67
625.16
NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
AAA
HAROT 2023-3 A3 AAA
DTD 08/22/2023 5.410% 02/18/2028
41 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
ABS
DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
254683CY9
05522RDG0
14041NGD7
02582JJZ4
254683CZ6
438123AC5
31680EAD3
02582JKD1
161571HT4
05522RDH8
02582JKH2
320,000.00
170,000.00
490,000.00
190,000.00
350,000.00
85,000.00
NR
AAA
AAA
AAA
AAA
NR
Aaa
NR
4/4/2023 4/11/2023
6/8/2023 6/16/2023
5/17/2023 5/24/2023
6/7/2023 6/14/2023
6/21/2023 6/28/2023
11/1/2023 11/8/2023
8/15/2023 8/23/2023
9/12/2023 9/19/2023
9/7/2023 9/15/2023
12/7/2023 12/14/2023
4/16/2024 4/23/2024
319,981.44 4.31
169,961.51 4.79
489,887.64 4.45
189,983.15 4.87
349,952.72 4.93
84,985.03 5.67
349,978.30 5.53
409,981.67 5.24
404,887.73 5.17
179,975.83 4.98
494,898.53 5.23
5,220,549.69 4.84
612.98 319,986.98
169,971.63
489,918.19
189,987.59
349,964.70
84,987.76
320,560.64
171,735.87
491,928.64
192,263.09
354,365.20
86,972.94
BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
361.91
COMET 2023-A1 A 962.58
DTD 05/24/2023 4.420% 05/15/2028
NR
AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
NR 411.24
DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
Aaa
Aaa
Aaa
NR
766.89
HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
133.88
FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
350,000.00
410,000.00
405,000.00
180,000.00
495,000.00
5,221,298.36
AAA
AAA
AAA
NR
860.22 349,983.12
409,792.43
404,908.90
179,979.92
494,898.53
5,220,537.27
354,961.60
419,386.13
413,746.79
183,602.16
509,663.88
5,281,662.82
AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
953.02
CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
NR 928.80
BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
Aaa
NR
398.40
AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
AAA 1,150.60
Security Type Sub-Total 10,937.48
Managed Account Sub Total
Securities Sub Total
Accrued Interest
54,263,741.00
$54,734,291.48
52,811,411.54 3.98 298,366.83 53,105,484.65
$53,576,035.13
53,657,307.94
$54,127,858.42
$298,366.83
$53,281,962.02 3.98% $298,366.83
Total Investments $54,426,225.25
42 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Appendix
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.

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

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

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

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

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

For more information regarding PFMAM's services or entities, please visit www.pfmam.com. © 2023 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 43 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Appendix
Important Disclosures
This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the Trust's investment objectives, risks, charges, and expenses before investing in the Trust. This and other information about the Trust is available in the Trust's current Information Sheet, which should be read carefully before investing. A copy of the Trust's information Statement may be available by calling 1-800-729-7665 or is available on the Trust's website at www.camponline.com. While the Cash Reserve Portfolio seeks to maintain a stable net asset value of $1.00 per share and the CAMP TERM Portfolio seeks to achieve a net asset value of $1.00 per share at the stated maturity, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.

Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimated market value.

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

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

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

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

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

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

MBS maturities are represented by expected average life. 44 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Appendix
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.

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

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

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

Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.

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

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

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

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

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

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

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

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

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

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

Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the mortgage-backed security.
45 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2024
CITY OF LAKE ELSINORE Appendix
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.

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

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

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

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

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

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

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

YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis. 46 © PFM Asset Management LLC | pfmam.com
30) Annual AB 1600 Development Impact Fee Compliance Report for Fiscal Year 2023-24 Open the Public Hearing, invite public comment, and continue to January 14, 2025.

Page 1 of 5 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: December 10, 2024
Subject: Annual AB 1600 Development Impact Fee Compliance Report for Fiscal Year 2023-24
Recommendation
Open the Public Hearing, invite public comment, and continue to January 14, 2025.

Background
The City of Lake Elsinore collects development impact fees for Traffic Infrastructure, City Hall and Public Works Facilities, Community Center Facilities, Lakeside Facilities, Animal Shelter Facilities, Fire Facilities, Library Facilities, and Drainage Facilities.

The Mitigation Fee Act (AB 1600; Government Code Section 66000 et seq.) sets forth the requirements the City must follow in connection with such development impact fees, which are imposed to defray the construction cost of public facilities related to development projects. Also, AB 1600 imposes specific accounting and comprehensive annual reporting requirements for the fees collected.

For accounting purposes, the development impact fees must be segregated from the City’s general funds and other funds or accounts containing fees collected for other improvements.

Interest on each development fee fund or account must be credited to that special revenue fund or account and used for the purposes for which the fees were collected.

Government Code Section 66006 contains comprehensive annual reporting requirements for development impact fees. This statute requires the City to make the following information available to the public annually for each development impact fee:

AB1600 Annual Report for Fiscal Year 2023-24

Page 2 of 5 ends

 A brief description of the type of fee in the account.  The amount of the fee.
 The beginning and ending balance of the account for the fiscal year.  The dollar amount of fees collected.
 The interest earned.
 Identification of each public improvement on which fees from the account were expended, the dollar amount of expenditures on each improvement, and an identification of the percentage of the cost of the improvement being funded with impact fees.  Identify an approximate date by which construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete financing on an incomplete public improvement and the public improvement remains incomplete.
 Description of each inter-fund transfer or loan made from the account, including the public improvement for which the transferred or loaned fees will be expended.  The amount of any refunds made according to the statute.  Findings, under Government Code section 66001(d), for portions of the fee account that are unexpended in the fifth fiscal year following the initial deposit in the account and every five years thereafter.

Staff has compiled the attached AB 1600 Fiscal Year 2023-24 report per the Fee Mitigation Act.

The report provides an annual accounting of the activity in each development impact fee special revenue fund for the fiscal year ending June 30, 2024, and a five-year history. The report also provides a plan for future use of the unexpended special revenue fund balances. The report is available on the City’s website, and copies were sent to the Building Industry Association (‘BIA”) along with SCE and the Gas Co. for review as they requested In addition to the development impact fees reported in the attached AB 1600 Report, the City imposes the Western Riverside County Transportation Uniform Mitigation Fee (TUMF) and the local development fee for the Multiple Species Habitat Conservation Plan (MSHCP). These fees are a “pass-through” to WRCOG and RCA through the City’s participation in these specific regional programs. Evaluation and accounting of these regionally based fees are outside the scope of the City’s AB 1600 Report.

In order to provide additional time for public review and comment, staff recommends that the public hearing be continued to January 14, 2025. At that time, staff will present the report, additional public comment will be welcome, and the City Council will receive and file the report and adopt findings upon close of the public hearing. The AB 1600 Report will remain posted on the City’s website.

AB1600 Annual Report for Fiscal Year 2023-24

Page 3 of 5 ends

Discussion
On June 27, 1989, the City Council adopted Ordinance Number 860, establishing its first AB 1600 development fee for Library Facilities. Subsequently, the City Council adopted and updated various other development impact fees applicable to new development within the City.

Development impact fees finance the design, construction, and acquisition of facilities and equipment necessary to accommodate future development within the City. Through the General Plan and fee studies, the City of Lake Elsinore has established the nexus between development, the capital improvements necessary to mitigate the effects of development, and approved fees to fund the mitigation measures.

Collected development impact fees are segregated and placed in special revenue funds, which earn interest. Those funds are held for the facilities for which the fees are collected, per Government Code Section 66006. As of June 30, 2024, the City collected eight separate and distinct fees under AB 1600. Following is a summary listing of the fees, along with the balance for each fee account on June 30, 2024:

The AB1600 Report includes a detailed expenditure and revenue report for each development impact fee special revenue fund. The nature of the development impact fee special revenue funds is such that the timing of receipt of revenues and construction of the related capital projects rarely coincide. As a practical matter, revenues are collected over time and accumulated until a development-related project is needed; in years of construction, accumulated reserves will be used up. No inter-fund transfers or loans have been made from capital accounts, and no refunds have been made.

Using the expenditure and revenue reports to determine whether the fees have been spent within five years of collection, the total expenditures and transfers-out over the five years must be added together. Then, that total must be subtracted from the earliest fund balance. In several instances, this calculation shows that not only have fees collected five years ago been spent, but depending on the fund, fees collected in the ensuing years have also been spent.

AB1600 Annual Report for Fiscal Year 2023-24

Page 4 of 5 ends

Although AB1600 requires fees collected from developers to be expended or committed within five years, the law allows exceptions in recognition that some project costs can be of a magnitude that takes more than five years to accrue adequate funds, or matching funds may not be available within the five years. AB 1600 requires the City to make certain findings regarding any unexpended development impact fee funds, whether committed or uncommitted, remaining after the fifth fiscal year following the first deposit and every five years after that.

The AB1600 excludes fees collected under development agreements adopted according to (Section 65864) from the definition of “fees,” so it has been generally accepted that only fees collected as a condition of development for the cost of public facilities are subject to the AB1600 requirements.

However, the development agreement statutes require “for any development agreement entered into on or after January 1, 2004, a city, county, or city and county shall comply with Section 66006 for any fee it receives or cost it recovers.” This provision falls under the following eight development agreements (see Attachment 2).
 Village at Lakeshore (aka Westlake) – Pay $500/unit Development Agreement Fee and $2.00/square foot Affordable Housing In-Lieu Fee and fees covered in the AB1600 report.  Laing (aka Summerly) – Paid $4,500/unit for the Development Agreement Fee, which was credited against the cost of the golf course and other improvements, and $1.30/sf Summerly Traffic Impact Fee in addition to fees covered in the AB1600 report. Project is complete.
 Mohr Affinity - Paid Initial Development Agreement Fee $50,000; Pay $2.50/sf Commercial Development Agreement Fee
 Alberhill Villages – Paid Initial Development Agreement Fee $100,000; Pay Development Agreement Fee (subject to annual adjustment and subject to limited exemptions) $4,500/Single Family unit, $3,200/Multi-Family unit; $2,500/Mixed Use unit; $1.00/sf Commercial/Retail/lndustrial Building and Private lnstitutional/Places of Worship (nonsanctuary); Pay $2.00/sf Alberhill Park Fee in addition to fees covered in the AB1600 report.
 Tri Pointe Homes (Canyon Hills Estates) – Pay $5,500/dwelling unit Development Agreement Fee and fees covered in the AB1600 Report.
 SPT and Richland (Ramsgate) - Pay $5,500/dwelling unit Development Agreement Fee and fees covered in the AB1600 Report.
 Canadian Pacific Land, LLC, and Strack Farms Land, LLC, - Pay $5,500/dwelling unit Development Agreement Fee, $2.00 per square foor affordable housing fee and fees covered in the AB1600 Report.
 T.T. Group, Inc., - Pay $5,500/dwelling unit Development Agreement Fee, $2.00 per square foor affordable housing fee and fees covered in the AB1600 Report.

AB1600 Annual Report for Fiscal Year 2023-24

Page 5 of 5 ends

All development impact fee categories satisfy the provision of AB1600, which requires funds to be expended within five years. Moreover, the City’s Five-year (2024/25-2028/29) Capital Improvement Program (CIP), adopted on June 25, 2024, provides detail regarding the sources, amounts, and approximate dates of funding anticipated over a five-year period that will be used to complete the financing of future capital projects such that all fund equity balances have been programmed to fund projects.

Fiscal Impact
Tracking the fund activities, summarizing the activity for the AB 1600 Report, and preparing the report require accounting and administrative resources. No funds were expended on outside sources to comply with this unfunded State mandate. This is a required reporting and compliance report per the California Government Code 66006.

Attachments
Attachment 1 - AB1600 Annual Report
Attachment 2 - Development Agreement Annual Report
Attachment 3 - Development Impact & Mitigation Fee Schedule Administrative Services

DEVELOPMENT AGREEMENTS - POST JANUARY 1, 2004

CITY OF LAKE ELSINORE, CALIFORNIA
DEVELOPMENT AGREEMENT - POST JANUARY 1, 2004 FEES SUBJECT TO SECTION 66006

DEVELOPMENT AGREEMENT PROJECT STATUS
TOTAL
UNITS

UNITS TO

DATE DAG FEE

AFFORDABLE

HOUSING IN-LIEU
FEE

ALBERHILL

PARK FEE

SUMMERLY

TRAFFIC IMPACT
FEE ("STIF") EXISTING DIF FEES PER ORDINANCE
VILLAGES AT LAKESHORE ("WESTLAKE")
(RESIDENTIAL)

PROJECT COMPLETE
$500 DAG Fee per unit YES, COVERED IN THE AB1600 REPORT. 2020-2021 169 169 $ 84,500 $ 545,602
Affordable Housing Fee ($2 per sq ft)
169 169 $ 84,500 $ - N/A N/A
LAING-CP ("SUMMERLY") (RESIDENTIAL) PROJECT COMPLETE
Description: $4,500 DAG fee per unit for
extraordinary infrastructure
2010-2011 7 $ 31,500
2011-2012 77 346,500
2012-2013 181 814,500
2013-2014 115 517,500
2014-2015 138 621,000
2015-2016 183 823,500
2016-2017 227 1,021,500
2017-2018 209 940,500
2018-2019 264 1,188,000
2019-2020 26 117,000
2020-2021 115 517,500
2021-2022 126 567,000
SUBTOTAL 1,668 1,668 $ 7,506,000
STIF - Summerly Traffic Impact Fee ($1.30 per sq ft)
2017-2018 $ 1,582,388.91
2018-2019 437,323.20
2019-2020 662,677.06
2020-2021 559,799.20
2021-2022 (109,564.63)
Interest Earnings Accumulated 193,414.59
SUBTOTAL $ 3,326,038.33
1,668 1,668 $ 7,506,000 N/A N/A $ 3,326,038.33

CANYON HILLS ESTATES (RESIDENTIAL) PROJECT NOT STARTED
$5,500 DAG FEE 132 - 0 YES, COVERED IN THE AB1600 REPORT.

ALBERHILL VILLAGES (RESIDENTIAL) PROJECT NOT STARTED
Alberhill Park Fee - SINGLE FAMILY (SFR) 2,724 - $ 100,000 $ - $ - $ - YES, COVERED IN THE AB1600 REPORT.

Alberhill Park Fee - MULTI-FAMILY (MFR) 3,420 - -
Alberhill Park Fee - MIXED USE DWELLING 1,880 - -
8,024 - $ 100,000 $ - $ - $ -
Alberhill Villages – Paid Initial Development Agreement Fee $100,000; Pay Development Agreement Fee (subject to annual adjustment and subject to limited exemptions) $4,500/Single Family unit, $3,200/Multi-Family unit; $2,500/Mixed Use unit; $1.00/sf Commercia/Retail/lndustrial Building and Private lnstitutional/Places of Worship (non-sanctuary); Pay $2.00/sf Alberhill Park Fee in addition to fees covered in the AB1600 report.

DEVELOPMENT AGREEMENTS - POST JANUARY 1, 2004

MOHR AFFINITY (OUTLET MALL PADS - FUTURE) PROJECT NOT STARTED $ - $ - $ 50,000 $ - $ - $ - YES, COVERED IN THE AB1600 REPORT. $ - $ - $ 50,000 $ - $ - $ -

SPT AND RICHLAND (RAMSGATE) PROJECT NOT STARTED
Description: Pays $5,500/dwelling unit for
Development Impact Fees. As such, these are
covered in the AB1600 Annual Report.
$ - $ - $ - $ - $ - $ - YES, COVERED IN THE AB1600 REPORT. $ - $ - $ - $ - $ - $ -

CANADIAN PACIFIC LAND LLC AND STRACK FARMS

LAND LLC

PROJECT NOT STARTED
Description: Pays $5,500/dwelling unit for
Development Impact Fees, $2.00 per sq ft
affordable housing fee. As such, these are
covered in the AB1600 Annual Report.
$ - $ - $ - $ - $ - $ - YES, COVERED IN THE AB1600 REPORT. $ - $ - $ - $ - $ - $ -
T.T. GROUP INC PROJECT NOT STARTED
Description: Pays $5,500/dwelling unit for
Development Impact Fees, $2.00 per sq ft
affordable housing fee. As such, these are
covered in the AB1600 Annual Report.
$ - $ - $ - $ - $ - $ - YES, COVERED IN THE AB1600 REPORT. $ - $ - $ - $ - $ - $ -
Paid Initial Development Agreement Fee $50,000; Pay $2.50/sf Commercial Development Agreement Fee
Updated July 1, 2024
Updated July 1, 2024

CITY OF LAKE ELSINORE

DEVELOPMENT IMPACT & MITIGATION FEES

1. Capital Improvement Fund:
a. Park Capital Improvement Fund Fees:

Subdivisions under 50 parcels, apartments, Condominiums, fourplexes, triplexes, duplexes, Single-family residences:

1. Single-Family Residences $1,600 per unit

2. Duplexes $1,500 per unit

3. Triplexes $1,500 per unit

4. Fourplexes $1,450 per unit

5. Apartments $1,400 per unit
Subdivisions over 50 parcels:

Dedicate land or pay an in-lieu fee equal to the fair market value of the land that would have otherwise been dedicated. The formula for determining the amount of land to be dedicated is as follows:

Average number of persons per unit x number of units proposed divided by park acreage standard. (Established ratio of five park acres to one thousand population.) Commercial and industrial developments:

All commercial and industrial developments shall pay the following fees to The City of Lake Elsinore for the purpose of establishing, improving and maintaining park land within the City:

Commercial $.10 per sq. ft. *
Industrial $.10 per sq. ft.
*All fees are based on square footage of enclosed space as determined by the City of Lake Elsinore's Building and Safety Division.

PARKLAND DEDICATION FORMULA TABLE
Types of dwellings Density/ DU
Single-family 3.6
Duplex, Medium-Low 3.1
Apartments/Condos 1.8
b. Storm Drain Capital Improvement Fund Fee based on location as shown on the City of Lake Elsinore's Drainage Facilities Plan Map.

Updated July 1, 2024
Updated July 1, 2024
c. Traffic Impact Fee:

Single Family Residential $1,369.00 per unit
Multi Family Residential $959.00 per unit
Commercial Building $3.84 per sq. ft. of building
Office Building $1.45 per sq. ft. of building
Industrial Building $0.81 per sq. ft. of building
Commercial/Industrial
Industrial Use $1.86 per square foot
Retail Commercial Use $7.72 per square foot
Service Commercial Use $4.89 per square foot
Class A and B Office $2.45 per square foot
d. Library Capital Improvement Fund Fee:

All residential properties - $150.00 per dwelling unit
f. Development Impact Fee:

Per Dwelling Unit
SFDU MF 2-4 MF 5+
City Hall & Public Works Facilities $809 $696 $404
Community Center Facilities $545 $469 $272
Lakeside Facilities $779 $671 $389
Animal Shelter Facility $348 $299 $174
Total Public Building Impact fee $2,481 $2,135 $1,239
Per 1000 Square Feet
Office Retail Industrial
City Hall & Public Works Facilities $180 $108 $36
g. Fire Facility:

Per Dwelling Unit Per 1000 Square Feet
SFDU MF Office Retail Industrial
$751 $612 $337 $489 $159
h. Affordable Housing in-lieu Fee
All residential properties - $2.00 per square foot of “assessable space”. “Assessable space” is defined as follows:

Updated July 1, 2024
Updated July 1, 2024
All the square footage within the perimeter of a residential structure, not including any carport, walkway, garage, overhang, patio, enclosed patio, detached accessory structure, or similar area.

The amount of the square footage within the perimeter of a residential structure shall be calculated by the building department of the City of Lake Elsinore in accordance with the standard practice of the City of Lake Elsinore in calculating structural perimeters.

MULTIPLE SPECIES HABITAT CONSERVATION PLAN
Permits and Fees | Western Riverside County Regional Conservation Authority (wrc-rca.org) 31) Public Hearing and Election for Annexation Proceedings for Annexation No. 22 into Community Facilities District No. 2015-2 (Maintenance Services) for Blazed Utopia

1. 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. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 22);

2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, DECLARING ELECTION RESULTS FOR COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 22); and

3. Introduce by title only and waive further reading of AN ORDINANCE AMENDING ORDINANCE NO. 2016-1359 OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2015-2 OF THE CITY OF LAKE

ELSINORE (MAINTENANCE SERVICES) AUTHORIZING THE LEVY OF SPECIAL TAXES.

Page 1 of 3 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: December 10, 2024
Subject: Public Hearing and Election for Annexation Proceedings for Annexation No. 22 into Community Facilities District No. 2015-2 (Maintenance Services) for Blazed Utopia
Recommendation

1. 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. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 22);

2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, DECLARING ELECTION RESULTS FOR COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 22); and

3. Introduce by title only and waive further reading of AN ORDINANCE AMENDING ORDINANCE NO. 2016-1359 OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2015-2 OF THE CITY OF LAKE ELSINORE (MAINTENANCE SERVICES) AUTHORIZING THE LEVY OF SPECIAL TAXES.

Background and Discussion
On October 22, 2024, the City Council adopted Resolution No. 2024-54, declaring its intention to annex territory to Community Facilities District No. 2015-2 (Maintenance Services) and commence the annexation proceedings for the territory to be annexed, also known as Annexation No. 22. A public hearing was set for December 10, 2024. Following such a public hearing, if there is no majority protest against the annexation and the special tax levy, the City Clerk will conduct an election for the landowners and declare the election results.

CFD 2015-2 Annexation 22 – Blazed Utopia

Page 2 of 3 ends

As required by the Resolution of Intention, an annexation map was recorded on October 24, 2024, at 3:34 p.m. in Book 94, Page 46, Document No. 2024-0321430 of Maps of Assessment and Community Facilities Districts with the Riverside County Recorder.

RA & B Development, LLC (the "Owner"). The Resolution of Intention was adopted by the City Council in response to a request by the Owners for the City to assist them in annexing territory into CFD No. 2015-2 (Maintenance Services) to cover the costs associated with maintaining public improvements. The improvements proposed to be maintained include landscaping and street maintenance. The Applicants have agreed to the annexation into the CFD and submitted a "Consent and Waiver" form on file in the City Clerk's Office to initiate and conduct proceedings according to the Mello-Roos Act of 1982, requesting the annexation of property to CFD No. 2015-2 (Maintenance Services) and consenting to the shortening of election time requirements, waiving analysis and arguments, and waiving all notice requirements relating to the conduct of the election.

The original area proposed within Annexation No. 22 will encompass a 17,037-square-foot cannabis facility. The territory proposed to be annexed into CFD No. 2015-2 will be included in Tax Zone 25. The proposed maximum tax rate is $5,569 per acre per year for Special Tax A and $755 per acre per year for Special Tax B. The maximum annual tax rates are proposed to escalate yearly at the greater of the Consumer Price Index (CPI) or 2%.

To annex property to CFD No. 2015-2 according to the provisions of California Government Code Section 53311 et seq., the City must adopt a series of three statutorily required Resolutions and an Ordinance, which are summarized below.
• Resolution declaring the City's intent to annex territory to Community Facilities District No. 2015-2, including the boundary of the area to be annexed and the rate and method of apportionment of special taxes within the annexation area (the special tax applies only to properties within the annexation area), adopted October 22, 2024. • Resolution calling an election to submit to the qualified electors the question of levying a special tax within the area proposed to be annexed to the District. • Resolution declaring the election results and directing the recording of the notice of special tax lien.
• Amend the Ordinance and order the levy and collection of special taxes in the District.

With the adoption of the Resolutions and the first reading of the amended Ordinance, the second reading would be scheduled for January 14, 2025.

CFD 2015-2 Annexation 22 – Blazed Utopia

Page 3 of 3 ends

Fiscal Impact
On March 1 of each year, every taxable property for which a building permit has been issued will be subject to the special taxes in the ensuing Fiscal Year. If the anticipated costs of maintaining the facilities in any given fiscal year before the project buildout exceed the special tax revenues available from parcels for which building permits have been issued, then the special tax may also be applied to undeveloped property within the tax zone.

Once developed, the Special Tax A for Tax Zone 25 will generate $7,519 annually, plus the annual escalator for maintenance services.

Attachments
Attachment 1- Project Map
Attachment 2 – Resolution Calling an Election
Exhibit A - Rate and Method of Apportionment
Exhibit B – Ballot
Attachment 3 – Resolution Declaring Election Results
Exhibit A - Certificate of Election Results
Attachment 4 - Certificate of Registrar of Voters
Attachment 5 - Ordinance
City Manager's Office
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CFD NO. 2015-2
ANNEXATION NO. 22

PROJECT MAP
RESOLUTION NO. 2024-_________

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. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 22)
Whereas, on September 22, 2015 the City Council (the “City Council”) of the City of Lake Elsinore (the “City”) approved Resolution No. 2015-078 declaring the City’s intention to establish Community Facilities District No. 2015-2 (Maintenance Services) of the City of Lake Elsinore, County of Riverside, State of California (the "CFD No. 2015-2") for the purpose of levying special taxes on parcels of taxable property therein for the purpose of providing certain services which are necessary to meet increased demands placed upon the City as a result of the development of said real property; and
Whereas, the City Council set a public hearing for September 22, 2015 after which the Council adopted Resolution No. 2015-078 forming the CFD No. 2015-2 and calling a special election at which the questions of levying a special tax and establishing an appropriations limit with respect to the CFD No. 2015-2 were submitted to the qualified electors within the CFD No. 2015-2; and Whereas, on September 22, 2015, the City Council adopted Resolution No. 2015-079 declaring the results of the special election and finding that more than two-thirds (2/3) of all votes cast at the special election were cast in favor of the proposition presented, and such proposition passed; and
Whereas, the City Council is authorized by Article 3.5 (commencing with Section 53339) of Chapter 2.5 of Part 1 of Division 2 of Title 5 of the Government Code as amended (the "Act"), to annex territory into an existing community facilities district by complying with the procedures set forth in said Article 3.5; and
Whereas, the City Council on October 22, 2024 duly adopted Resolution No. 2024-54 (the “Resolution of Intention”) declaring its intention to annex certain territory to CFD No. 2015-2 (Maintenance Services) and to levy a special tax within that territory to pay for certain services and setting a time and place for the public hearing on the proposed annexation for December 10, 2024; and
Whereas, the territory proposed to be annexed is identified in a map entitled "Annexation Map No. 22 Community Facilities District No. 2015-2 (Maintenance Services)" a copy of which was recorded, on October 24, 2024, in Book 94 of Maps of Assessment and Community Facilities Districts at Page 46, in the office of the Riverside County Recorder; and Whereas, pursuant to the Act and the Resolution of Intention, a noticed public hearing was convened by the City Council on December 10, 2024, not earlier than the hour of 7:00 p.m. at the City Hall located at 183 N Main Street, Lake Elsinore, California 92530, relative to the proposed annexation of said territory to CFD No. 2015-2; and
Whereas, written protests have not been filed by fifty percent (50%) or more of the registered voters residing within the CFD No 2015-2, or by fifty percent (50%) or more of the registered voters residing within the territory to be annexed, or by the owners of one-half (1/2) or more of the CC Res. No. 2024-_____

Page 2 of 5 ends

area within the CFD No. 2015-2, or by the owners of one-half (1/2) or more of the territory to be annexed; and
Whereas, the City Council has determined that there are fewer than twelve registered voters residing in the territory proposed to be annexed to the CFD No. 2015-2 and that the qualified electors in such territory are the landowners; and
Whereas, on the basis of all of the foregoing, the City Council has determined at this time to call an election to authorize the annexation of territory to the CFD No. 2015-2 and the levying of a special tax as described in Exhibit A hereto; and
Whereas, the City Council has received a written instrument from each landowner in the territory proposed to be annexed to the CFD No. 2015-2 consenting to the shortening of election time requirements, waiving analysis and arguments, and waiving all notice requirements relating to the conduct of the election; and
Whereas, the City Clerk has concurred in the election date set forth herein.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, ACTING EX OFFICIO AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT 2015-2 (MAINTENANCE SERVICES) OF THE CITY OF LAKE ELSINORE, DETERMINE AND ORDER AS FOLLOWS:

Section 1. Recitals. The foregoing recitals are true and correct.

Section 2. Conformation of Finding in Resolution of Intention. The City Council reconfirms all of its findings and determinations as set forth in the Resolution of Intention.

Section 3. Findings Regarding Protests. The City Council finds and determines that written protests to the proposed annexation of territory to the CFD No. 2015-2 and the levy of the special tax within such territory are insufficient in number and in amount under the Act, and the City Council hereby further orders and determines that all such protests are hereby overruled.

Section 4. Findings Regarding Prior Proceedings. The City Council finds and determines that all prior proceedings had and taken by the City Council with respect to the annexation of territory to CFD No. 2015-2 are valid and in conformity with the requirements of the Act.

Section 5. Levy of Special Tax. As stated in the Resolution of Intention, except where funds are otherwise available, subject to the approval of the qualified electors of territory proposed to be annexed to CFD No. 2015-2, a special tax sufficient to pay the costs of the Services (including incidental expenses as described in the Resolution of Intention), secured by recordation of a continuing lien against all nonexempt real property in CFD No. 2015-2, will be levied annually in CFD No. 2015-2. The rate and method of apportionment, and manner of collection of the special tax are specified in Exhibit A hereto.

Section 6. Apportionment of Tax. The special tax as apportioned to each parcel is based on the cost of making the Services available to each parcel, or other reasonable basis, and is not based on or upon the ownership of real property.

Section 7. Tax Roll Preparation. The office of the Assistant City Manager, 130 South Main Street, City of Lake Elsinore, is hereby designated as the office that will be responsible for CC Res. No. 2024-_____

Page 3 of 5 ends

annually preparing a current roll of special tax levy obligations by assessor’s parcel number and that will be responsible for estimating future special tax levies pursuant to Government Code section 53340.2. The Assistant City Manager may cause these functions to be performed by his or her deputies, assistants, or other designated agents.

Section 8. Accountability Measures. Pursuant to Section 50075.1 of the California Government Code, the City shall create a separate account into which tax proceeds will be deposited; and the Assistant City Manager annually shall file a report with the City Council that will state (a) the amount of funds collected and expended and (b) the status of the Services financed in CFD No. 2015-2.

Section 9. Special Election; Voting Procedures. The City Council hereby submits the questions of levying the special tax within the territory proposed to be annexed to the qualified electors, in accordance with and subject to the Act. The special election shall be held on December 10, 2024, and shall be conducted as follows:
(a) Qualified Electors. The City Council hereby determines that the Services are necessary to meet increased demands placed upon the City as a result of development occurring within the boundaries of CFD No. 2015-2. Because fewer than twelve registered voters resided within the territory proposed to be annexed to CFD No. 2015-2 on October 14, 2024 (a date within the 90 days preceding the close of the public hearing on the territory proposed to be annexed to CFD No. 2015-2), the qualified electors shall be the landowners within territory proposed to be annexed, and each landowner who was the owner of record at the close of the hearing shall have one vote for each acre or portion of an acre of land that such landowner owns within the territory proposed to be annexed to CFD No. 2015-2.
(b) Consolidation of Elections; Combination of Propositions on Ballot. The election on the question of levying the special tax and establishing an appropriations limit for CFD No. 2015-2 shall be consolidated, and the two proportions shall be combined into a single ballot proposition for submission to the voters, as authorized by Government Code Section 53353.5. (c) Mail Ballot Election. Pursuant to Government Code section 53327.5, the election shall be conducted as a mail ballot election. The City Council hereby ratifies the City Clerk’s delivery of a ballot to each landowner within the territory proposed to be annexed to CFD No. 2015-2. The City Council hereby ratifies the form of the ballot, which is attached hereto as Exhibit B.
(d) Return of Ballots. The City Clerk shall accept the ballots of the landowners up to 7:00 p.m. on December 10, 2024. The City Clerk shall have available ballots that may be marked at the City Clerk’s office on the election day by voters. Once all qualified electors have voted, the City Clerk may close the election.
(e) Canvass of Election. The City Clerk shall commence the canvass of the returns of the special election as soon as the election is closed (on December 10, 2024, or when all qualified electors have voted) at the City Clerk’s office. At the conclusion of the canvass, the City Clerk shall declare the results of the election.
(f) Declaration of Results. The City Council shall declare the results of the special election following the completion of the canvass of the returns and shall cause to be inserted into its minutes a statement of the results of the special election as ascertained by the canvass of the returns.

CC Res. No. 2024-_____

Page 4 of 5 ends

Section 10. Filing of Resolution and Map with City Clerk. The City Council hereby directs the City Clerk to file a copy of this resolution and the annexation map of the boundaries of CFD No. 2015-2 in her office.

PASSED and ADOPTED at a regular meeting of the City Council of the City of Lake Elsinore, California, this 10th day of December 2024.

Steve Manos, Mayor
ATTEST:

Candice Alvarez, MMC
City Clerk
CC Res. No. 2024-_____

Page 5 of 5 ends

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. 2024-____ was adopted by the City Council of the City of Lake Elsinore, California, at the Regular meeting of December 10, 2024, and that the same was adopted by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
_____________________________
Candice Alvarez, MMC
City Clerk
City of Lake Elsinore 1
Community Facilities District No. 2015-2 (Maintenance Services)

RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX FOR
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

OF THE CITY OF LAKE ELSINORE
A Special Tax (the “Special Tax”) shall be levied on and collected from each Assessor’s Parcel (defined below) in Community Facilities District No. 2015-2 (Maintenance Services) (the “CFD No. 2015-2” or “CFD”; defined below), in each Fiscal Year, (defined below), commencing in the Fiscal Year beginning July 1, 2015, in an amount determined by the City Council of the City of Lake Elsinore, acting ex officio as the legislative body of CFD No. 2015-2, by applying the rate and method of apportionment set forth below.

All of the real property in CFD No. 2015-2, unless exempted by law or by the provisions herein, shall be taxed to the extent and in the manner provided herein.

City of Lake Elsinore 2
Community Facilities District No. 2015-2 (Maintenance Services) “Building Square Footage” or “BSF” means the floor area square footage reflected on the original construction building permit issued for construction of a building of Non-Residential Property and any Building Square Footage subsequently added to a building of such Taxable Property after issuance of a building permit for expansion or renovation of such building. “Calendar Year” means the period commencing January 1 of any year and ending the following December 31.
“CFD” or “CFD No. 2015-2” means the City of Lake Elsinore Community Facilities District No. 2015-2 (Maintenance Services).
“City” has the meaning set forth in the preamble.
“Contingent Special Tax B Requirement” means that amount required in any Fiscal Year, if the POA is unable to maintain the Service(s) to: (i) pay the costs of Services incurred or otherwise payable in the Calendar Year commencing in such Fiscal Year; (ii) fund an operating reserve for the costs of Services as determined by the Administrator; less a credit for funds available to reduce the annual Special Tax B (Contingent) levy as determined by the Administrator. “County” means the County of Riverside.
“Developed Property” means all Assessor’s Parcels of Taxable Property for which a building permit for new construction has been issued on or prior to March 1 preceding the Fiscal Year in which the Special Tax is being levied.
“Exempt Property” means all Assessors’ Parcels designated as being exempt from the Special Tax as provided for in Section G.
“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 1352 that creates individual lots for which building permits may be issued without further subdivision. “Fiscal Year” means the period from and including July 1st of any year to and including the following June 30th.
“Land Use Category” or “LUC” means any of the categories contained in Section B hereof to which an Assessor’s Parcel is assigned consistent with the land use approvals that have been received or proposed for the Assessor’s Parcel as of March 1 preceding the Fiscal Year in which the Special Tax is being levied.
“Maximum Special Tax” means either Maximum Special Tax A and/or Maximum Special Tax B (Contingent), as applicable.
“Maximum Special Tax A” means the Maximum Special Tax A, as determined in accordance with Section C below that can be levied in any Fiscal Year on any Assessor's Parcel of Taxable Property within CFD No. 2015-2.

City of Lake Elsinore 3
Community Facilities District No. 2015-2 (Maintenance Services) “Maximum Special Tax B (Contingent)” means the Maximum Special Tax B (Contingent), as determined in accordance with Section C below that can be levied in any Fiscal Year on any Assessor's Parcel of Taxable Property within CFD No. 2015-2.
“Multi-Family Residential Property” means any Assessor’s Parcel of residential property that consists of a building or buildings comprised of attached Residential Units sharing at least one common wall with another unit.
“Non-Residential Property” or “NR” means all Assessor's Parcels of Taxable Property for which a building permit(s) was issued for a non-residential use. The Administrator shall make the determination if an Assessor’s Parcel is Non-Residential Property. “Property Owner’s Association” or “POA” means the property owner’s association or homeowner’s association established to maintain certain landscaping within a Tax Zone. “Proportionately” means for Taxable Property that is: (i) Developed Property, that the ratio of the actual Special Tax levy to the Maximum Special Tax is the same for all Parcels of Developed Property with the same Tax Zone, (ii) Approved Property, that the ratio of the actual Special Tax levy to the Maximum Special Tax is the same for all Parcels of Approved Property with the same Tax Zone, and (iii) 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 Parcels of Undeveloped Property with the same Tax Zone. “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 Administrator. “Residential Property” means all Assessor’s Parcels of Taxable Property upon which completed Residential Units have been constructed or for which building permits have been or may be issued for purposes of constructing one or more Residential Units. “Service(s)” means services permitted under the Mello-Roos Community Facilities Act of 1982 including, without limitation, those services authorized to be funded by CFD No. 2015-2 as set forth in the documents adopted by the City Council at the time the CFD was formed. “Single Family Residential Property” means any residential property other than Multi-Family Residential Property on an Assessor’s Parcel.
“Special Tax(es)” means the Special Tax A and/or Special Tax B (Contingent) to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property.
“Special Tax A” means the annual special tax to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Special Tax A Requirement. "Special Tax A Requirement" means for each Tax Zone, that amount to be collected in any Fiscal Year to pay for certain costs as required to meet the needs for such Tax Zone of CFD No. 2015-2 in both the current Fiscal Year and the next Fiscal Year. The costs to be covered shall be the direct costs for maintenance services including but not limited to (i) maintenance and lighting of parks, parkways, streets, roads and open space, (ii) maintenance and operation of water quality improvements, (iii) public street sweeping, (iv) fund an operating reserve for the costs of Services as determined by the Administrator, and (v) Administrative Expenses. Under no circumstances shall the Special Tax A Requirement include funds for Bonds.

City of Lake Elsinore 4
Community Facilities District No. 2015-2 (Maintenance Services) “Special Tax B (Contingent)” means the Special Tax B (Contingent) to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Contingent Special Tax B Requirement, if required.
"Taxable Property" means all Assessor’s Parcels within CFD No. 2015-2, which are not Exempt Property.
“Taxable Unit” means a Residential Unit, Building Square Footage, or an Acre. "Tax Zone" means a mutually exclusive geographic area, within which particular Special Tax rates may be levied pursuant to this Rate and Method of Apportionment of Special Tax. Appendix C identifies the Tax Zone in CFD No. 2015-2 at formation; additional Tax Zones may be created when property is annexed into the CFD.
"Tax Zone 1" means the specific geographic area identified on the CFD Boundary Map as Tax Zone 1. "Tract(s)" means an area of land within a subdivision identified by a particular tract number on a Final Map approved for the subdivision.
“Undeveloped Property” means, for each Fiscal Year, all Taxable Property not classified as Developed Property or Approved Property.

B. ASSIGNMENT TO LAND USE CATEGORIES
For each Fiscal Year, all Assessor’s Parcels of Taxable Property within CFD No. 2015-2 shall be classified as Developed Property, Approved Property, or Undeveloped Property, and shall be subject to the levy of Special Taxes as determined pursuant to Sections C and D below. Assessor’s Parcels of Developed Property and Approved Property shall be classified as either Residential Property or Non-Residential Property. Residential Property shall be further classified as Single Family Residential Property or Multi-Family Residential Property and the number of Residential Units shall be determined by the Administrator.

C. MAXIMUM SPECIAL TAX RATES
For purposes of determining the applicable Maximum Special Tax for Assessor’s Parcels of Developed Property and Approved Property which are classified as Residential Property, all such Assessor’s Parcels shall be assigned the number of Residential Unit(s) constructed or to be constructed thereon as specified in or shown on the building permit(s) issued or Final Map as determined by the Administrator. For Parcels of undeveloped property zoned for development of single family attached or multi-family units, the number of Residential Units shall be determined by referencing the condominium plan, apartment plan, site plan or other development plan, or by assigning the maximum allowable units permitted based on the underlying zoning for the Parcel. Once a single family attached or multi-family building or buildings have been built on an Assessor's Parcel, the Administrator shall determine the actual number of Residential Units contained within the building or buildings, and the Special Tax A levied against the Parcel in the next Fiscal Year shall be calculated by multiplying the actual number of Residential Units by the Maximum Special Tax per Residential Unit identified for the Tract below or as included in Appendix A as each Annexation occurs.

City of Lake Elsinore 5
Community Facilities District No. 2015-2 (Maintenance Services) For purposes of determining the applicable Maximum Special Tax for Assessor’s Parcels of Developed Property and Approved Property which are classified as Non-Residential Property, all such Assessor’s Parcels shall be assigned the number of Building Square Footage or Acres as shown on the Final Map as determined by the Administrator. Once the Administrator determines the actual number of Building Square Footage or Acres for the Assessor’s Parcels, the Special Tax A levied against the Assessor’s Parcel in the next Fiscal Year shall be calculated by multiplying the number of Building Square Footage or Acres by the Maximum Special Tax per Taxable Unit identified for the Tax Zone below or as included in Appendix A as each Annexation occurs.

1. Special Tax A
a. Developed Property
(i) Maximum Special Tax A
The Maximum Special Tax A for each Assessor’s Parcel of Developed Property shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax A for the Tax Zones annexed and included in Appendix A. The Maximum Special Tax A for Developed Property for Fiscal Year 2015-2016 within Tax Zone 1 is identified in Table 1 below:

TABLE 1

MAXIMUM SPECIAL TAX A RATES

DEVELOPED PROPERTY
Tax
Zone Tract Land Use Category
Taxable
Unit
Maximum
Special Tax A
1 LLA-2014-2743 Non-Residential Property Acre $121
(ii) Increase in the Maximum Special Tax A
On each July 1, commencing on July 1, 2016 the Maximum Special Tax A for Developed Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater. (iii) Multiple Land Use Categories
In some instances an Assessor's Parcel of Developed Property may contain more than one Land Use Category. The Maximum Special Tax A that can be levied on an Assessor's Parcel shall be the sum of the Maximum Special Tax A that can be levied for each Land Use Category located on that Assessor's Parcel. For an Assessor's Parcel that contains more than one land use, the Acreage of such Assessor's Parcel shall be allocated to each type of property based on the amount of Acreage designated for each land use as determined by reference to the site plan approved for such Assessor's Parcel. The Administrator's allocation to each type of property shall be final.
b. Approved Property
The Maximum Special Tax A for each Assessor’s Parcel of Approved Property shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax A for the Tax Zone annexed and included in Appendix A. The Maximum Special Tax A for Approved property Fiscal Year 2015-2016 within Tax Zone 1 is identified in Table 2 below:

City of Lake Elsinore 6
Community Facilities District No. 2015-2 (Maintenance Services) TABLE 2

MAXIMUM SPECIAL TAX A RATES

APPROVED PROPERTY
Tax
Zone Tract Land Use Category
Taxable
Unit
Maximum
Special Tax A
1 LLA-2014-2743 Non-Residential Property Acre $121
On each July 1, commencing on July 1, 2016 the Maximum Special Tax A for Approved Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater.
c. Undeveloped Property
The Maximum Special Tax A for each Assessor’s Parcel of Undeveloped Property shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax A for the Tax Zone annexed and included in Appendix A. The Maximum Special Tax A for Undeveloped Property for Fiscal Year 2015-2016 within Tax Zone 1 is identified in Table 3 below:

TABLE 3

MAXIMUM SPECIAL TAX A RATES

UNDEVELOPED PROPERTY
Tax Zone Tracts Taxable Unit Maximum Special Tax A
1 LLA-2014-2743 Acre $121
On each July 1, commencing on July 1, 2016 the Maximum Special Tax A for Undeveloped Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater.

2. Special Tax B (Contingent)
(i) Maximum Special Tax B (Contingent)
The Maximum Special Tax B (Contingent) for each Assessor’s Parcel of Taxable Property is shown in Table 1 and shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax B (Contingent) for each Tax Zones annexed and included in Appendix A. The Maximum Special Tax B (Contingent) for Fiscal Year 2015- 2016 within Tax Zone 1 is identified in Table 4 below:

TABLE 4

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

DEVELOPED PROPERTY
Tax
Zone Tract Land Use Category
Taxable
Unit
Maximum Special
Tax B (Contingent)
1 LLA-2014-2743 Non-Residential Property Acre $0
City of Lake Elsinore 7
Community Facilities District No. 2015-2 (Maintenance Services) (ii) Increase in the Maximum Special Tax B (Contingent) On each July 1, commencing on July 1, 2016 the Maximum Special Tax B (Contingent) for Developed Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater. (iii) Multiple Land Use Categories
In some instances an Assessor's Parcel of Developed Property may contain more than one Land Use Category. The Maximum Special Tax B (Contingent) that can be levied on an Assessor's Parcel shall be the sum of the Maximum Special Tax B (Contingent) that can be levied for each Land Use Category located on that Assessor's Parcel. For an Assessor's Parcel that contains more than one land use, the Acreage of such Assessor's Parcel shall be allocated to each type of property based on the amount of Acreage designated for each land use as determined by reference to the site plan approved for such Assessor's Parcel. The Administrator's allocation to each type of property shall be final. b. Approved Property
The Maximum Special Tax B (Contingent) for each Assessor’s Parcel of Taxable Property is shown in Table 5 and shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax B (Contingent) for the Tax Zone annexed and included in Appendix A.

The Maximum Special Tax B (Contingent) for Fiscal Year 2015-2016 within the Tax Zone is identified in Table 5 below:

TABLE 5

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

APPROVED PROPERTY
Tax
Zone Tract Land Use Category
Taxable
Unit
Maximum Special
Tax B (Contingent)
1 LLA-2014-2743 Non-Residential Property Acre $0
On each July 1, commencing on July 1, 2016 the Maximum Special Tax B (Contingent) for Approved Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater. c. Undeveloped Property
The Maximum Special Tax B (Contingent) for each Assessor’s Parcel of Taxable Property is shown in Table 6 and shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax B (Contingent) for the Tax Zone annexed and included in Appendix A.

The Maximum Special Tax B (Contingent) for Fiscal Year 2015-2016 within the Tax Zone is identified in Table 6 below:

City of Lake Elsinore 8
Community Facilities District No. 2015-2 (Maintenance Services) TABLE 6

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

UNDEVELOPED PROPERTY
Tax Zone
Tracts Taxable Unit
Maximum Special
Tax B (Contingent)
1 LLA-2014-2743 Acre $0
On each July 1, commencing on July 1, 2016 the Maximum Special Tax B (Contingent) for Undeveloped Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater.

D. METHOD OF APPORTIONMENT OF ANNUAL SPECIAL TAX

1. Special Tax A
Commencing with Fiscal Year 2015-2016 and for each following Fiscal Year, the Council shall determine the Special Tax A Requirement and shall levy the Special Tax A on all Assessor’s Parcels of Taxable Property until the aggregate amount of Special Tax A equals the Special Tax A Requirement for each Tax Zone. The Special Tax A shall be levied for each Fiscal Year as follows:

First: The Special Tax A shall be levied Proportionately on all Assessor’s Parcels of Developed Property within each Tax Zone up to 100% of the applicable Maximum Special Tax to satisfy the Special Tax A Requirement for such Tax Zone;
Second: If additional moneys are needed to satisfy the Special Tax A Requirement for a Tax Zone after the first step has been completed, the Special Tax A shall be levied Proportionately on each Parcel of Approved Property within such Tax Zone up to 100% of the Maximum Special Tax A for Approved Property;
Third: If additional monies are needed to satisfy the Special Tax A Requirement for a Tax Zone after the first two steps has been completed, the Special Tax A shall be levied Proportionately on all Assessor’s Parcels of Undeveloped Property within such Tax Zone up to 100% of the Maximum Special Tax A for Undeveloped Property.

2. Special Tax B (Contingent)
Commencing with Fiscal Year 2015-2016 and for each following Fiscal Year, the Council shall determine the Contingent Special Tax B Requirement and shall levy the Special Tax on all Assessor’s Parcels of Taxable Property until the aggregate amount of Special Tax B (Contingent) equals the Contingent Special Tax B Requirement. The Special Tax B (Contingent) shall be levied for each Fiscal Year as follows:

First: The Special Tax shall be levied Proportionately on all Assessor’s Parcels of Developed Property for a Tax Zone up to 100% of the applicable Maximum Special Tax B (Contingent) to satisfy the Contingent Special Tax B Requirement;
Second: If additional moneys are needed to satisfy the Contingent Special Tax B Requirement after the first step has been completed, the Special Tax B (Contingent) shall be levied Proportionately on each Parcel of Approved Property within such Tax Zone up to 100% of the Maximum Special Tax B (Contingent) for Approved Property;
City of Lake Elsinore 9
Community Facilities District No. 2015-2 (Maintenance Services) Third: If additional monies are needed to satisfy the Contingent Special Tax B Requirement after the first two steps has been completed, the Special Tax B (Contingent) shall be levied Proportionately on all Assessor’s Parcels of Undeveloped Property within such Tax Zone up to 100% of the Maximum Special Tax B (Contingent) for Undeveloped Property.

E. FUTURE ANNEXATIONS
It is anticipated that additional properties will be annexed to CFD No. 2015-2 from time to time. As each annexation is proposed, an analysis will be prepared to determine the annual cost for providing Services. Based on this analysis, the property to be annexed, pursuant to California Government Code section 53339 et seq. will be assigned to the appropriate Maximum Special Tax rate for the Tax Zone when annexed and included in Appendix A.

F. TERM OF SPECIAL TAX
For each Fiscal Year, the Special Taxes shall be levied as long as the Services are being provided.

G. EXEMPTIONS
The City shall classify as Exempt Property within CFD No. 2015-2, any Assessor’s Parcel in any of the following categories; (i) Assessor’s Parcels which are owned by, irrevocably offered for dedication, encumbered by or restricted in use by any public entity; (ii) Assessor’s Parcels with public or utility easements making impractical their utilization for other than the purposes set forth in the easement; (iii) Assessor’s Parcels which are privately owned but are encumbered by or restricted solely for public uses; or (iv) any Assessor’s Parcel which is in use in the performance of a public function as determined by the Administrator.

H. APPEALS
Any property owner claiming that the amount or application of the Special Taxes are not correct may file a written notice of appeal with the City not later than twelve months after having paid the first installment of the Special Tax that is disputed. A representative(s) of CFD No. 2015-2 shall promptly review the appeal, and if necessary, meet with the property owner, consider written and oral evidence regarding the amount of the Special Tax, and rule on the appeal. If the representative’s decision requires that the Special Tax for an Assessor’s Parcel be modified or changed in favor of the property owner, a cash refund shall not be made, but an adjustment shall be made to the Special Tax on that Assessor’s Parcel in the subsequent Fiscal Year(s).

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. 2015-2 may collect the Special Tax at a different time or in a different manner if necessary to meet its financial obligations.

City of Lake Elsinore 10
Community Facilities District No. 2015-2 (Maintenance Services)

APPENDIX A

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

COST ESTIMATE
Special Tax A Services- The estimate breaks down the costs of providing one year's maintenance services for Fiscal Year 2024-25. These services are being funded by the levy of Special Tax A for Community Facilities District No. 2015-2.

TAX ZONE 25
TPM 37710
Item Description Estimated Cost
1 Landscaping $3,342
2 Streets $2,599
3 Reserves $428
4 Admin $1,150
Total $7,519
Special Tax B Contingent Services – The estimate in the table below breaks down the costs of providing one year’s contingent services for Fiscal Year 2024-25. If necessary, these services will be funded by the levy of Special Tax B (Contingent) for Community Facilities District No. 2015-2 Tax Zone 25.

TAX ZONE 25 (CONTINGENT SERVICES)
TPM 37710
Item Description Estimated Cost
1 Drainage $695
2 Reserves $70
3 Admin $254
Total $1,019
TAX ZONE 25
FY 2024-25 MAXIMUM SPECIAL TAX RATES

DEVELOPED PROPERTY AND APPROVED PROPERTY
Land Use
Category
Taxable
Unit
Maximum
Special Tax A
Maximum
Special Tax B
Non-Residential Property Acre $5,569 $755
TAX ZONE 25
FY 2024-25 MAXIMUM SPECIAL TAX RATES

UNDEVELOPED PROPERTY
Taxable
Unit
Maximum
Special Tax A
Maximum
Special Tax B
Acre $5,569 $755
City of Lake Elsinore 11
Community Facilities District No. 2015-2 (Maintenance Services)

TAX ZONE SUMMARY
Annexation
Tax
Zone
Tract
APN
Fiscal
Year
Maximum
Special Tax A
Maximum
Special Tax B Subdivider
Original 1 LLA-2014-2743 2015-16 $121 / Acre $0 / Acre Tractor Supply 1 2 36682 2016-17 $354 / RU $102 / RU Pardee Homes
2 3 PM 29996 2017-18 $951 / Acre $165 / Acre Pasadena Industrial Park, LLC 3 4 PM 36551 2017-18 $2,671 / Acre $201 / Acre ARI Chaney Street, LLC 4 5 TR 32996 2017-18 $378 / RU $321 / RU LE Cottage Lane, LLC 5 6 365-030-001 2018-19 $1,004/ Acre $0 / Acre Lake Elsinore CCR, LLC 6 7 TR 33267 2019-20 $350 / RU $56 / RU Pardee Homes
7 8 PM 37284 2019-20 $1,953 / Acre $0 / Acre Central Plaza 8 9 TR 37305 2019-20 $951 / RU $384 / RU Nichols Rd Partners, LLC 8 10 TR 37305; Lot 169 2019-20 $2,600 / Acre $0 / Acre Nichols Rd Partners, LLC 9 11 TR 32129 & 30698 2020-21 $541 / RU $69 / RU
Donald S. Clurman &
Three Strands Properties, LLC &
Spectrum Communities, LLC
10 12 TR 33370 2021-22 $294 / RU $30 / RU JLJ. LLC
11 13 PM 37534 2021-22 $1,113 / Acre $0 / Acre SRZ Yuma, LLC 12 14 TR 33725 2021-22 $749 / RU $87 / RU SPT-AREP III Tuscany Associates 12 15 TR 25475 2021-22 $594 / RU $62 / RU SPT-AREP III Tuscany Associates 13 16 LLA 2019-007 2021-22 $407 / Acre $0 / Acre Wal-Mart Real Estate Business Trust
14 17 TR 38008 2021-22 $366 / RU $123 / RU Tri Pointe Homes IE-SD, Inc. 15 18 TPM 37751 2021-22 $2,188 / Acre $2,540 / Acre Boos-Up Lake Elsinore 16 19 PM 37710 2021-22 $1,034 / Acre $0 / Acre Pennington Industrial, LLC 17 20 TR 37280 2022-23 $323 / RU $5 / RU Lake Elsinore Lakeshore, LLC and Erin Crowder
18 21 TR 38116 2022-23 $387 / RU $82 / RU Tri Pointe Homes IE-SD, Inc. 19 22 TR 38378 2023-24 $358 / RU $7 / RU Vista Emerald, LLC 20 23 TR 28214-9 2023-24 $647 / RU $19 / RU Pulte Home Co. 21 24 BLD-2023-0026B 2023-24 $739 / Acre $288 / Acre Lake Street Properties, LP 22 25 TPM 37710 2024-25 $5,569/Acre $755/Acre RA & B Development, LLC

ESCALATION OF MAXIMUM SPECIAL TAXES
On each July 1, commencing on July 1, 2016 the Maximum Special Tax shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater.

City of Lake Elsinore 12
Community Facilities District No. 2015-2 (Maintenance Services)

APPENDIX B

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

DESCRIPTION OF AUTHORIZED SERVICES
The services which may be funded with proceeds of the special tax of CFD No. 2015-2, as provided by Section 53313 of the Act, will include all costs attributable to maintaining, servicing, cleaning, repairing and/or replacing landscaped areas (may include reserves for replacement) in public street right-of-ways, public landscaping, public open spaces and other similar landscaped areas officially dedicated for public use. These services including the following:
(a) maintenance and lighting of parks, parkways, streets, roads and open space, which maintenance and lighting services may include, without limitation, furnishing of electrical power to street lights and traffic signals; repair and replacement of damaged or inoperative light bulbs, fixtures and standards; maintenance (including irrigation and replacement) of landscaping vegetation situated on or adjacent to parks, parkways, streets, roads and open space; maintenance and repair of irrigation facilities; maintenance of public signage; graffiti removal from and maintenance and repair of public structures situated on parks, parkways, streets, roads and open space; maintenance and repair of playground or recreation program equipment or facilities situated on any park; and (b) maintenance and operation of water quality improvements which include storm drainage and flood protection facilities, including, without limitation, drainage inlets, catch basin inserts, infiltration basins, flood control channels, fossil fuel filters, and similar facilities. Maintenance services may include but is not limited to the repair, removal or replacement of all or part of any of the water quality improvements, fossil fuel filters within the public right-of-way including the removal of petroleum hydrocarbons and other pollutants from water runoff, or appurtenant facilities, clearing of inlets and outlets; erosion repairs; and cleanup to improvements, and other items necessary for the maintenance, servicing; or both of the water quality basin improvements within flood control channel improvements; and
(c) public street sweeping, on the segments of the arterials within the boundaries of CFD No. 2015-2; as well as local roads within residential subdivisions located within CFD No. 2015-2; and any portions adjacent to the properties within CFD No. 2015-2; and In addition to payment of the cost and expense of the forgoing services, proceeds of the special tax may be expended to pay “Administrative Expenses,” as said term is defined in the Rate and Method of Apportionment.

The above services shall be limited to those provided within the boundaries of CFD No. 2015-2 or for the benefit of the properties within the boundaries of CFD No. 2015-2, as the boundary is expanded from time to time by anticipated annexations, and said services may be financed by proceeds of the special tax of CFD No. 2015-2 only to the extent that they are in addition to those provided in the territory of CFD No. 2015-2 before CFD No. 2015-2 was created.

City of Lake Elsinore 13
Community Facilities District No. 2015-2 (Maintenance Services)

APPENDIX C

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

PROPOSED BOUNDARIES AND POTENTIAL ANNEXATION AREA BOUNDARIES

SPECIAL TAX ELECTION

CITY OF LAKE ELSINORE

ANNEXATION OF TERRITORY TO
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) ANNEXATION NO. 22
(December 10, 2024)
This ballot is for the use of the authorized representative of the following owner of land within Annexation No. 22 of the Community Facilities District No. 2015-2 (Maintenance Services) (“CFD No. 2015-2”) of the City of Lake Elsinore:

Name of Landowner
Number of Acres
Owned Total Votes
RA & B Development, LLC 1.35 2
According to the provisions of the Mello-Roos Community Facilities Act of 1982, and resolutions of the City Council (the “Council”) of the City of Lake Elsinore (the “City”), the above-named landowner is entitled to cast the number of votes shown above under the heading “Total Votes,” representing the total votes for the property owned by said landowner. The City has sent the enclosed ballot to you so that you may vote on whether or not to approve the special tax.

This special tax ballot is for the use of the property owner of the parcels identified below, which parcels are located within the territory proposed to be annexed to the CFD No. 2015-2, City of Lake Elsinore, County of Riverside, State of California. Please advise the City Clerk, at (951) 674-3124 x 261 if the name set forth below is incorrect or if you are no longer one of the owners of these parcels. This special tax ballot may be used to express either support for or opposition to the proposed special tax. To be counted, this special tax ballot must be signed below by the owner or, if the owner is not an individual, by an authorized representative of the owner. The ballot must then be delivered to the City Clerk, either by mail or in person, as follows:

Mail
Delivery: If by mail, place ballot in the return envelope provided, and mail no later than November 26, 2024, two calendar weeks prior to the date set for the election.

Mailing later than this deadline creates the risk that the special tax ballot may not be received in time to be counted.

Personal
Delivery: If in person, deliver to the City Clerk at any time up to 7:00 p.m. on December 10, 2024, at the Clerk’s office at 130 N Main St. Lake Elsinore, CA 92530.

However delivered, this ballot must be received by the Clerk prior to the close of the public meeting on December 10, 2024.

Very truly yours,
Candice Alvarez, MMC,
City Clerk
TO CAST THIS BALLOT, PLEASE RETURN THIS ENTIRE PAGE.

OFFICIAL SPECIAL TAX BALLOT
Name & Address of Property Owner: Assessor’s Parcel Number(s):

RA & B Development, LLC
Attn: Jafar Rahman
328 N. State Street
Hemet, CA 92543
377-220-037

ANNEXATION OF TERRITORY TO
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) ANNEXATION NO. 22
AN “X” OR OTHER MARK WILL CAST ALL VOTES ASSIGNED TO THIS BALLOT SPECIAL TAX BALLOT MEASURE MARK “YES” OR
“NO” WITH AN “X”:

Shall the City Council of the City of Lake Elsinore be authorized to levy a special tax on an annual basis at the rates set forth in the following table:

Land Use Category
Maximum Special
Tax A Maximum Special Tax B
Non-Residential Property

$5,569 $755
plus an annual increase on each July 1, commencing on July 1, 2025 the Maximum Special Tax A and Maximum Special Tax B (Contingent) for Developed Property, Approved Property and Undeveloped Property shall increase by i) the percentage increase in the Consumer Price Index for the Riverside-San Bernardino-Ontario California Standard Metropolitan Statistical Area since the beginning of the preceding Fiscal Year or ii) by two percent (2.0%), whichever is greater, to finance certain services within the territory identified on the map entitled “Annexation Map No. 22 of Community Facilities District No. 2015-2 (Maintenance Services) City of Lake Elsinore” including landscaping and streets for Special Tax A and drainage for Special Tax B (Contingent) as provided in the Rate and Method of Apportionment which is attached as Exhibit C to Resolution No. 2024-54 adopted by the City Council of the City of Lake Elsinore on October 22, 2024 (including incidental expenses) and shall an appropriation limit be established for Community Facilities District No. 2015-2 (Maintenance Services) in the amount of special taxes collected?
YES _________

NO _________
Certification for Special Election Ballot
The undersigned is an authorized representative of the above-named landowner and is the person legally authorized and entitled to cast this ballot on behalf of the above-named landowner.

I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct and that this declaration is executed on ____________, 20__.

Jafar Rahman
Developer
Signature
Print Name
Title

RESOLUTION NO. 2024-_________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA DECLARING ELECTION RESULTS FOR COMMUNITY
FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)
(ANNEXATION NO. 22)
Whereas, the City Council (the "City Council") of the City of Lake Elsinore (the "City") has heretofore conducted proceedings for the area proposed to be annexed to Community Facilities District No. 2015-2 (Maintenance Services) (the "CFD No. 2015-2") of the City of Lake Elsinore, including conducting a public hearing pursuant to Section 53339.5 of the Government Code; and Whereas, at the conclusion of said public hearing, the City Council adopted a resolution calling a special election for December 10, 2024, and submitting to the qualified electors of the territory to be annexed to the CFD No. 2015-2 the question of levying special taxes on parcels of taxable property therein for the purpose of providing certain services which are necessary to meet increased demands placed upon the City as a result of the development of said real property as provided in the form of special election ballot; and
Whereas, a Certificate of Election Results, attached thereto as Exhibit A, dated December 10, 2024, executed by the City Clerk (or, in the absence of the City Clerk, the Acting City Clerk – in either case, the “Clerk”), has been filed with this Council, certifying that a completed ballot has been returned to the Clerk for each landowner-voter(s) eligible to cast a ballot in said special election, with all votes cast as “Yes” votes in favor of the ballot measure, and further certifying on said basis that the special mailed-ballot election was closed; and Whereas, this Council has received, reviewed and hereby accepts the Clerk’s Certificate of Election Results and wishes by this resolution to declare the results of the special mailed-ballot election;

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE:

Section 1. Recitals. This Council finds and determines that the foregoing recitals are true and correct.

Section 2. Ballot Measure. This Council hereby finds, determines and declares that the ballot measure submitted to the qualified electors of the territory to be annexed to CFD No. 2015-2 has been passed and approved by those qualified electors in accordance with Sections 53328 and 53329 of the Government Code.

Section 3. Annexation. This Council hereby finds, determines and declares that pursuant to Section 53339.8 of the Government Code, the City Council is authorized to determine that the territory to be annexed has been added to and become a part of the CFD No. 2015-2 with full legal effect, and the City Council is also authorized, pursuant to said Section 53339.8, to annually levy special taxes within the territory to be annexed to pay the costs of the services to be provided by the CFD No. 2015-2 as specified in Resolution No. 2024-54 adopted by the City Council on October 22, 2024. The boundaries of the territory annexed are shown on the map entitled, "Annexation Map No. 22 Community Facilities District No. 2015-2 (Maintenance Services)" a copy CC Res. No. 2024-____

Page 2 of 2 ends

of which was recorded, on October 24, 2024, in Book 94 of Maps of Assessment and Community Facilities Districts Page 46, in the office of the Riverside County Recorder.

Section 4. Notice of Special Tax Lien. Pursuant to Section 53339.8 of the Government Code and Section 3117.5 of the Streets and Highways Code, the City Clerk shall cause to be filed with the County Recorder of the County of Riverside an amendment of the notice of special tax lien and a map of the amended boundaries of the CFD No. 2015-2 including the annexed territory.

Section 5. Effect. This resolution shall take effect from and after its adoption.

Passed and Adopted at a regular meeting of the City Council of the City of Lake Elsinore, California, this 10th day of December 2024.

Steve Manos
Mayor
Attest:

Candice Alvarez, MMC
City Clerk

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

AYES:

NOES:

ABSENT:

ABSTAIN:
_____________________________
Candice Alvarez, MMC
City Clerk

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) ANNEXATION NO. 22

CERTIFICATE OF ELECTION RESULTS
I, the undersigned, being the Deputy City Clerk or the Acting City Clerk, as the case may be, hereby certify:

In connection with the special mailed-ballot election called by the City Council (the “City Council”) of the City of Lake Elsinore (the “City”) on this same date in the proceedings of the City Council for the annexation of territory to the above-entitled community facilities district, I personally received (a) a signed and dated waiver and consent form and (b) a signed, dated and marked election ballot(s) on behalf of the owner(s) listed below, the entity named as the sole landowner of the land within the boundary of the above-entitled community facilities district in the Certificate Regarding Registered Voters and Landowners, dated October 14, 2024, and on file in the office of the City Clerk of the City in connection with the City Council actions on that date.

Copies of the completed waiver and consent form and the completed ballot received by me and on file in my office are attached hereto.

Following such receipt, I have personally, and in the presence of all persons present, reviewed the ballot to confirm that it is properly marked and signed, and I hereby certify the result of that count to be that the ballot was cast in favor of the measure.

Based upon the foregoing, all votes that were cast having been cast “Yes”, in favor of the ballot measure, the measure has therefore passed.

Landowner
Qualified
Landowner Votes Votes Cast YES NO
RA & B Development, LLC 2 2
Total 2 2
I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct and that this declaration is executed on December 10, 2024.

Candice Alvarez, MMC
City Clerk
City of Lake Elsinore
By:

(Attach completed copies of Waiver/Consent and Ballots)

ORDINANCE NO. 2025-___
AN ORDINANCE AMENDING ORDINANCE NO. 2016-1359 OF THE

CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA,

ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF
COMMUNITY FACILITIES DISTRICT NO. 2015-2 OF THE CITY OF

LAKE ELSINORE (MAINTENANCE SERVICES) AUTHORIZING THE

LEVY OF SPECIAL TAXES
WHEREAS, pursuant to the Mello-Roos Community Facilities Act of 1982 (the “Act”), on July 28, 2015, the City Council (the “City Council”) of the City of Lake Elsinore (the “City”) adopted Resolution No. 15-078 establishing Community Facilities District No. 2015-2 (Maintenance Services) of the City of Lake Elsinore, County of Riverside, State of California (the "CFD No. 2015-2") for the purpose of levying special taxes on parcels of taxable property therein for the purpose of providing certain services (the “Services”), which are necessary to meet increased demands placed upon the City and are described in Exhibit A attached hereto; and
WHEREAS, on May 10, 2016, the City Council adopted Ordinance No. 2016-1359 entitled, “An Ordinance of the City of Council of the City of Lake Elsinore, California, acting in its capacity as the legislative body of Community Facilities District No. 2015-2 of the City of Lake Elsinore (Maintenance Services) authorizing the levy of special tax” (“Ordinance No. 2015-1359”), pursuant to which the City Council levied special taxes with the CFD No. 2015-2; and WHEREAS, on October 22, 2024, the City Council adopted Resolution No. 2024-54 entitled “A Resolution of the City Council of the City of Lake Elsinore Declaring its Intention to Annex Territory into Community Facilities District No. 2015-2 (Maintenance Services) of the City of Lake Elsinore, Adopting a Map of the Area to be Proposed (Annexation No. 22) and Authorizing the Levy of a Special Taxes Therein” (the “Resolution of Intention”) declaring its intention to annex certain territory to the CFD No. 2015-2 and to levy special taxes within that territory to provide the Services as described in the Resolution of Intention and setting a special public hearing on the proposed annexation for December 10, 2024; and WHEREAS, notice was published as required by the Act relative to the intention of the City Council to annex certain territory to the CFD No. 2015-2, to levy special taxes therein to provide the Services, and to set the time and place of said public hearing; and
WHEREAS, on December 10, 2024, at the time and place specified in said published notice, the City Council opened and held a public hearing as required by the Act relative to the annexation of territory in to the CFD No. 2015-2, the levy of the special taxes therein, and the provision of Services by the CFD No. 2015-2; and
WHEREAS, at said public hearing all persons desiring to be heard on all matters pertaining to the annexation of territory to the CFD No. 2015-2, the levy of the special taxes therein, and the provision of Services therein were heard, and a full and fair hearing was held; and WHEREAS, subsequent to said public hearing, the City Council adopted Resolution No. 24-___ entitled “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. 2015-2 (Maintenance Services) (Annexation No. 22)” (the “Resolution Calling the Election”) on December 10, 2024 wherein the City Council submitted the question of levying a special tax in territory proposed to be annexed to the CFD No. 2015-2 at the rate and according to the method of apportionment described therein; and
WHEREAS, at said special election on December 10, 2024, the qualified electors of the territory proposed to be annexed to the CFD No. 2015-2 approved said propositions as described in the Resolution Calling the Special Election by more than the two-thirds vote required by the Act; and Ordinance No. 2025-____

Page 2 of 23 ends

WHEREAS, subsequent to said special election, the City Council adopted Resolution No. 24-___ entitled “A Resolution of the City Council of the City of Lake Elsinore, California, Declaring the Election Results for Community Facilities District No. 2015-2 (Maintenance Services) (Annexation No. 22)” wherein the City Council determined that the territory proposed to be annexed was added to the CFD No. 2015-2 (such territory being referred to herein as “Annexation No. 22”).

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) OF THE CITY OF LAKE ELSINORE, DOES ORDAIN AS FOLLOWS:

Section 1. Recitals. The foregoing recitals are true and correct.

Section 2. Amendment to Exhibit B of Ordinance No. 2016-1359. Ordinance No. 2016-1359 is hereby amended by including Exhibit B to Ordinance No. 2016-1359 attached hereto.

Section 3. Amendment to Section 2 of Ordinance No. 2016-1359. Section 2 of Ordinance No. 2016-1359 is hereby amended by deleting it in its entirety and replacing it with the following:

Section 2. By the passage of this Ordinance, the City Council authorizes and levies special taxes within the District which are subject to taxation which are identified in Exhibit B attached hereto, pursuant to Sections 53328 and 53340 of the Act at the rates and in accordance with the rate and method of apportionment set forth in Exhibit A attached hereto, which is incorporated by reference herein (the “Rate and Method”). The special taxes are hereby levied commencing the fiscal year specified in the Rate and Method and in each fiscal year thereafter so long as the services authorized to be finance by the District, are provided through such financing within the District.

Section 4. Future Annexations. The annexation of additional territory into the CFD No. 2015- 2 was contemplated as part of the adoption of Resolution No. 15-066. The boundaries of the territory within which any property may annex to the CFD No. 2015-2 are more particularly described and shown on that certain map entitled “Boundaries – Potential Annexation Area Community Facilities District No. 2015-2 (Maintenance Services) City of Lake Elsinore, County of Riverside, State of California,” as recorded on August 19, 2015 in Book 78 of Maps of Assessment and Community Facilities District, at Page 74, and as Document No. 2015-0369598 in the official records of the County of Riverside. Following a public hearing and the adoption of resolutions required by the Act for any additional annexations of property within said potential annexation area, Revised Exhibit B of Ordinance No. 2016-1359 shall be further amended to include any additional territory annexed to the CFD No. 2015-2. The City Council hereby authorizes and directs the officers, employees, and agents of the City to take all actions and do all things which they, or any of them, may deem necessary or desirable to accomplish the purposes of this Section 4 of this Ordinance to further include Exhibit B to Ordinance No. 2016-1359.

Section 5. Severability. If for any reason any portion of this Ordinance is found to be invalid, or if the special taxes found inapplicable to any particular parcel within the CFD No. 2015-2, by a court of competent jurisdiction, the balance of this Ordinance and the application of the special tax to the remaining parcels within the CFD No. 2015-2 shall not be affected.

Section 6. Authorization to Publish Ordinance. The Mayor shall sign this Ordinance and the City Clerk shall attest thereto and shall, within fifteen (15) days of its adoption, cause it or a summary of it to be published at least once in The Press Enterprise, a newspaper of general circulation published and circulated in the City and the CFD No. 2015-2.

Section 7. Effective Date. This Ordinance shall take effect and shall be in force thirty (30) days after the date of its adoption, at which time Revised Exhibit B will include Exhibit B to Ordinance No. 2016-1359 and Section 2 of Ordinance No. 2016-1359 will be amended as described herein.

Ordinance No. 2025-____

Page 3 of 23 ends

Passed and Adopted by the City Council of the City of Lake Elsinore at a regular meeting held on 14th day of January 2025 by the following vote:

Steve Manos
Mayor
Attest:

Candice Alvarez, MMC
City Clerk

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. 2025-____ was introduced at the regular City Council meeting of December 10, 2024, and adopted at the regular meeting of January 14, 2025, by the following roll call vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
_____________________________
Candice Alvarez, MMC
City Clerk

EXHIBIT A

RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX FOR
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

All of the real property in CFD No. 2015-2, unless exempted by law or by the provisions herein, shall be taxed to the extent and in the manner provided herein.

A. DEFINITIONS
“Acre” or “Acreage” means the land area of an Assessor’s Parcel as shown on any Assessor’s Parcel Map, or if the land area is not shown on the Assessor’s Parcel Map, the land area as shown on the applicable Final Map, or if the area is not shown on the applicable Final Map, the land area shall be calculated by the Administrator.
“Administrative Expenses” means the actual or reasonably estimated costs directly related to the formation, annexation, and administration of CFD No. 2015-2 including, but not limited to: the costs of computing the Special Taxes and preparing the annual Special Tax collection schedules (whether by the City or designee thereof or both); the costs to the City, CFD No. 2015-2, or any designee thereof associated with fulfilling the CFD No. 2015-2 disclosure requirements; the costs associated with responding to public inquiries regarding the Special Taxes; the costs of the City, CFD No. 2015-2 or any designee thereof related to an appeal of the Special Tax; and the City's annual administration fees including payment of a proportional share of salaries and benefits of any City employees and City overhead whose duties are related to the administration and third party expenses. Administrative Expenses shall also include amounts estimated or advanced by the City or CFD No. 2015-2 for any other administrative purposes of CFD No. 2015-2, including attorney's fees and other costs related to commencing and pursuing to completion any foreclosure of delinquent Special Taxes. “Administrator” means the City Manager of the City of Lake Elsinore, or his or her designee. “Approved Property” means all Assessor’s Parcels of Taxable Property that are included in a Final Map that was recorded prior to the March 1 preceding the Fiscal Year in which the Special Tax is being levied, and that have not been issued a building permit on or prior to the March 1 preceding the Fiscal year in which the special tax is being levied.
“Assessor’s Parcel” means a lot or parcel of land that is identifiable by an Assessor’s Parcel Number by the County Assessor of the County of Riverside.
“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 identification number assigned to a parcel by the County Assessor of the County.
“Building Square Footage” or “BSF” means the floor area square footage reflected on the original construction building permit issued for construction of a building of Non-Residential Property and any Building Square Footage subsequently added to a building of such Taxable Property after issuance of a building permit for expansion or renovation of such building. “Calendar Year” means the period commencing January 1 of any year and ending the following December 31.
“CFD” or “CFD No. 2015-2” means the City of Lake Elsinore Community Facilities District No. 2015-2 (Maintenance Services).
“City” has the meaning set forth in the preamble.
“Contingent Special Tax B Requirement” means that amount required in any Fiscal Year, if the POA is unable to maintain the Service(s) to: (i) pay the costs of Services incurred or otherwise payable in the Calendar Year commencing in such Fiscal Year; (ii) fund an operating reserve for the costs of Services as determined by the Administrator; less a credit for funds available to reduce the annual Special Tax B (Contingent) levy as determined by the Administrator. “County” means the County of Riverside.
“Developed Property” means all Assessor’s Parcels of Taxable Property for which a building permit for new construction has been issued on or prior to March 1 preceding the Fiscal Year in which the Special Tax is being levied.
“Exempt Property” means all Assessors’ Parcels designated as being exempt from the Special Tax as provided for in Section G.
“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 1352 that creates individual lots for which building permits may be issued without further subdivision. “Fiscal Year” means the period from and including July 1st of any year to and including the following June 30th.
“Land Use Category” or “LUC” means any of the categories contained in Section B hereof to which an Assessor’s Parcel is assigned consistent with the land use approvals that have been received or proposed for the Assessor’s Parcel as of March 1 preceding the Fiscal Year in which the Special Tax is being levied.
“Maximum Special Tax” means either Maximum Special Tax A and/or Maximum Special Tax B (Contingent), as applicable.
“Maximum Special Tax A” means the Maximum Special Tax A, as determined in accordance with Section C below that can be levied in any Fiscal Year on any Assessor's Parcel of Taxable Property within CFD No. 2015-2.
“Maximum Special Tax B (Contingent)” means the Maximum Special Tax B (Contingent), as determined in accordance with Section C below that can be levied in any Fiscal Year on any Assessor's Parcel of Taxable Property within CFD No. 2015-2.
“Multi-Family Residential Property” means any Assessor’s Parcel of residential property that consists of a building or buildings comprised of attached Residential Units sharing at least one common wall with another unit.
“Non-Residential Property” or “NR” means all Assessor's Parcels of Taxable Property for which a building permit(s) was issued for a non-residential use. The Administrator shall make the determination if an Assessor’s Parcel is Non-Residential Property. “Property Owner’s Association” or “POA” means the property owner’s association or homeowner’s association established to maintain certain landscaping within a Tax Zone. “Proportionately” means for Taxable Property that is: (i) Developed Property, that the ratio of the actual Special Tax levy to the Maximum Special Tax is the same for all Parcels of Developed Property with the same Tax Zone, (ii) Approved Property, that the ratio of the actual Special Tax levy to the Maximum Special Tax is the same for all Parcels of Approved Property with the same Tax Zone, and (iii) 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 Parcels of Undeveloped Property with the same Tax Zone. “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 Administrator. “Residential Property” means all Assessor’s Parcels of Taxable Property upon which completed Residential Units have been constructed or for which building permits have been or may be issued for purposes of constructing one or more Residential Units. “Service(s)” means services permitted under the Mello-Roos Community Facilities Act of 1982 including, without limitation, those services authorized to be funded by CFD No. 2015-2 as set forth in the documents adopted by the City Council at the time the CFD was formed. “Single Family Residential Property” means any residential property other than Multi-Family Residential Property on an Assessor’s Parcel.
“Special Tax(es)” means the Special Tax A and/or Special Tax B (Contingent) to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property.
“Special Tax A” means the annual special tax to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Special Tax A Requirement. "Special Tax A Requirement" means for each Tax Zone, that amount to be collected in any Fiscal Year to pay for certain costs as required to meet the needs for such Tax Zone of CFD No. 2015-2 in both the current Fiscal Year and the next Fiscal Year. The costs to be covered shall be the direct costs for maintenance services including but not limited to (i) maintenance and lighting of parks, parkways, streets, roads and open space, (ii) maintenance and operation of water quality improvements, (iii) public street sweeping, (iv) fund an operating reserve for the costs of Services as determined by the Administrator, and (v) Administrative Expenses. Under no circumstances shall the Special Tax A Requirement include funds for Bonds.
“Special Tax B (Contingent)” means the Special Tax B (Contingent) to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Contingent Special Tax B Requirement, if required.
"Taxable Property" means all Assessor’s Parcels within CFD No. 2015-2, which are not Exempt Property.
“Taxable Unit” means a Residential Unit, Building Square Footage, or an Acre. "Tax Zone" means a mutually exclusive geographic area, within which particular Special Tax rates may be levied pursuant to this Rate and Method of Apportionment of Special Tax. Appendix C identifies the Tax Zone in CFD No. 2015-2 at formation; additional Tax Zones may be created when property is annexed into the CFD.
"Tax Zone 1" means the specific geographic area identified on the CFD Boundary Map as Tax Zone 1. "Tract(s)" means an area of land within a subdivision identified by a particular tract number on a Final Map approved for the subdivision.
“Undeveloped Property” means, for each Fiscal Year, all Taxable Property not classified as Developed Property or Approved Property.

For purposes of determining the applicable Maximum Special Tax for Assessor’s Parcels of Developed Property and Approved Property which are classified as Non-Residential Property, all such Assessor’s Parcels shall be assigned the number of Building Square Footage or Acres as shown on the Final Map as determined by the Administrator. Once the Administrator determines the actual number of Building Square Footage or Acres for the Assessor’s Parcels, the Special Tax A levied against the Assessor’s Parcel in the next Fiscal Year shall be calculated by multiplying the number of Building Square Footage or Acres by the Maximum Special Tax per Taxable Unit identified for the Tax Zone below or as included in Appendix A as each Annexation occurs.

TABLE 1

MAXIMUM SPECIAL TAX A RATES

TABLE 2

MAXIMUM SPECIAL TAX A RATES

TABLE 3

MAXIMUM SPECIAL TAX A RATES

TABLE 4

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

DEVELOPED PROPERTY
Tax
Zone Tract Land Use Category
Taxable
Unit
Maximum Special
Tax B (Contingent)
1 LLA-2014-2743 Non-Residential Property Acre $0
(ii) Increase in the Maximum Special Tax B (Contingent) On each July 1, commencing on July 1, 2016 the Maximum Special Tax B (Contingent) for Developed Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater. (iii) Multiple Land Use Categories
In some instances an Assessor's Parcel of Developed Property may contain more than one Land Use Category. The Maximum Special Tax B (Contingent) that can be levied on an Assessor's Parcel shall be the sum of the Maximum Special Tax B (Contingent) that can be levied for each Land Use Category located on that Assessor's Parcel. For an Assessor's Parcel that contains more than one land use, the Acreage of such Assessor's Parcel shall be allocated to each type of property based on the amount of Acreage designated for each land use as determined by reference to the site plan approved for such Assessor's Parcel. The Administrator's allocation to each type of property shall be final. b. Approved Property
The Maximum Special Tax B (Contingent) for each Assessor’s Parcel of Taxable Property is shown in Table 5 and shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax B (Contingent) for the Tax Zone annexed and included in Appendix A.

The Maximum Special Tax B (Contingent) for Fiscal Year 2015-2016 within the Tax Zone is identified in Table 5 below:

TABLE 5

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

The Maximum Special Tax B (Contingent) for Fiscal Year 2015-2016 within the Tax Zone is identified in Table 6 below:

TABLE 6

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

D. METHOD OF APPORTIONMENT OF ANNUAL SPECIAL TAX

First: The Special Tax shall be levied Proportionately on all Assessor’s Parcels of Developed Property for a Tax Zone up to 100% of the applicable Maximum Special Tax B (Contingent) to satisfy the Contingent Special Tax B Requirement;
Second: If additional moneys are needed to satisfy the Contingent Special Tax B Requirement after the first step has been completed, the Special Tax B (Contingent) shall be levied Proportionately on each Parcel of Approved Property within such Tax Zone up to 100% of the Maximum Special Tax B (Contingent) for Approved Property;
Third: If additional monies are needed to satisfy the Contingent Special Tax B Requirement after the first two steps has been completed, the Special Tax B (Contingent) shall be levied Proportionately on all Assessor’s Parcels of Undeveloped Property within such Tax Zone up to 100% of the Maximum Special Tax B (Contingent) for Undeveloped Property.

F. TERM OF SPECIAL TAX
For each Fiscal Year, the Special Taxes shall be levied as long as the Services are being provided.

APPENDIX A

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

COST ESTIMATE
Special Tax A Services - The estimate breaks down the costs of providing one year's maintenance services for Fiscal Year 2024-25. These services are being funded by the levy of Special Tax A for Community Facilities District No. 2015-2.

TAX ZONE 25 (CONTINGENT SERVICES)
TPM 37710
Item Description Estimated Cost
1 Drainage $695
2 Reserves $70
3 Admin $254
Total $1,019
TAX ZONE 25
FY 2024-25 MAXIMUM SPECIAL TAX RATES

UNDEVELOPED PROPERTY
Taxable
Unit
Maximum
Special Tax A
Maximum
Special Tax B
Acre $5,569 $755

TAX ZONE SUMMARY
Annexation
Tax
Zone
Tract
APN
Fiscal
Year
Maximum
Special Tax A
Maximum
Special Tax B Subdivider
Original 1 LLA-2014-2743 2015-16 $121 / Acre $0 / Acre Tractor Supply 1 2 36682 2016-17 $354 / RU $102 / RU Pardee Homes
2 3 PM 29996 2017-18 $951 / Acre $165 / Acre Pasadena Industrial Park, LLC 3 4 PM 36551 2017-18 $2,671 / Acre $201 / Acre ARI Chaney Street, LLC 4 5 TR 32996 2017-18 $378 / RU $321 / RU LE Cottage Lane, LLC 5 6 365-030-001 2018-19 $1,004/ Acre $0 / Acre Lake Elsinore CCR, LLC 6 7 TR 33267 2019-20 $350 / RU $56 / RU Pardee Homes
7 8 PM 37284 2019-20 $1,953 / Acre $0 / Acre Central Plaza 8 9 TR 37305 2019-20 $951 / RU $384 / RU Nichols Rd Partners, LLC 8 10 TR 37305; Lot 169 2019-20 $2,600 / Acre $0 / Acre Nichols Rd Partners, LLC 9 11 TR 32129 & 30698 2020-21 $541 / RU $69 / RU
Donald S. Clurman &
Three Strands Properties, LLC &
Spectrum Communities, LLC
10 12 TR 33370 2021-22 $294 / RU $30 / RU JLJ, LP
11 13 PM 37534 2021-22 $1,113 / Acre $0 / Acre SRZ Yuma, LLC 12 14 TR 33725 2021-22 $749 / RU $87 / RU SPT-AREP III Tuscany Associates 12 15 TR 25475 2021-22 $594 / RU $62 / RU SPT-AREP III Tuscany Associates 13 16 LLA 2019-007 2021-22 $407 / Acre $0 / Acre Wal-Mart Real Estate Business Trust
14 17 TR 38008 2021-22 $366 / RU $123 / RU Tri Pointe Homes IE-SD, Inc. 15 18 TPM 37751 2021-22 $2,188 / Acre $2,540 / Acre Boos-Up Lake Elsinore 16 19 PM 37710 2021-22 $1,034 / Acre $0 / Acre Pennington Industrial, LLC 17 20 TR 37280 2022-23 $323 / RU $5 / RU Lake Elsinore Lakeshore, LLC and Erin Crowder
18 21 TR 38116 2022-23 $387 / RU $82 / RU Tri Pointe Homes IE-SD, Inc. 19 22 TR 38378 2023-24 $358 / RU $7 / RU Vista Emerald, LLC 20 23 TR 28214-9 2023-24 $647 / RU $19 / RU Pulte Home Co. 21 24 BLD-2023-0026B 2023-24 $739 / Acre $288 / Acre Lake Street Properties, LP 22 25 TPM 37710 2024-25 $5,569/Acre $755/Acre RA & B Development

APPENDIX B

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

DESCRIPTION OF AUTHORIZED SERVICES
The services which may be funded with proceeds of the special tax of CFD No. 2015-2, as provided by Section 53313 of the Act, will include all costs attributable to maintaining, servicing, cleaning, repairing and/or replacing landscaped areas (may include reserves for replacement) in public street right-of-ways, public landscaping, public open spaces and other similar landscaped areas officially dedicated for public use. These services including the following:
(a) maintenance and lighting of parks, parkways, streets, roads and open space, which maintenance and lighting services may include, without limitation, furnishing of electrical power to street lights; repair and replacement of damaged or inoperative light bulbs, fixtures and standards; maintenance (including irrigation and replacement) of landscaping vegetation situated on or adjacent to parks, parkways, streets, roads and open space; maintenance and repair of irrigation facilities; maintenance of public signage; graffiti removal from and maintenance and repair of public structures situated on parks, parkways, streets, roads and open space; maintenance and repair of playground or recreation program equipment or facilities situated on any park; and
(b) maintenance and operation of water quality improvements which include storm drainage and flood protection facilities, including, without limitation, drainage inlets, catch basin inserts, infiltration basins, flood control channels, fossil fuel filters, and similar facilities. Maintenance services may include but is not limited to the repair, removal or replacement of all or part of any of the water quality improvements, fossil fuel filters within the public right-of-way including the removal of petroleum hydrocarbons and other pollutants from water runoff, or appurtenant facilities, clearing of inlets and outlets; erosion repairs; and cleanup to improvements, and other items necessary for the maintenance, servicing; or both of the water quality basin improvements within flood control channel improvements; and
(c) public street sweeping, on the segments of the arterials within the boundaries of CFD No. 2015-2; as well as local roads within residential subdivisions located within CFD No. 2015-2; and any portions adjacent to the properties within CFD No. 2015-2; and In addition to payment of the cost and expense of the forgoing services, proceeds of the special tax may be expended to pay “Administrative Expenses,” as said term is defined in the Rate and Method of Apportionment.

APPENDIX C

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

PROPOSED BOUNDARIES AND POTENTIAL ANNEXATION AREA BOUNDARIES

EXHIBIT B
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) SPECIAL TAX FISCAL YEAR 2024-25
(Effective as of January 14, 2025)

ASSESSOR'S PARCEL NUMBERS
Annexation Zone Owner Assessor's Parcel Numbers
Original 1 Tractor Supply 377-120-068
1 2 Pardee Homes See Below
2 3 Pasadena Industrial Park, LLC 377-120-032, -043 thru -047, -069, and -071
3 4 ARI Chaney Street, LLC 377-140-028 thru -030, -032 thru -035, -038 thru -041, -044 thru -046
4 5 LE Cottage Lane, LLC See Next Page
5 6 Lake Elsinore CCR, LLC 365-030-048
6 7 Pardee Home See Next Page
7 8 Central Plaza 377-081-002 thru -009
8 9 Nichols Rd Partners, LLC
389-200-038 (por.),
389-210-008 (por.), 389-210-032,
389-210-034, and 389-210-036 (por.)
8 10 Nichols Rd Partners, LLC 389-200-046, -049, and -053 9 11
Donald S. Clurman &
Three Strands Properties, LLC &
Spectrum Communities, LLC
See Next Page
10 12 JLJ, LP See Next Page
11 13 SRZ Yuma, LLC 377-081-035
12 14 SPT AREP III Tuscany Associates
349-240-006, -043, -044, -045, -046,
-047, -054, -055, -056 and
349-380-024, -025
12 15 SPT AREP III Tuscany Associates 349-240-034, -038, -072, -075 13 16 Wal-Mart Real Estate Business Trust 377-090-052, -053, -054, -055, -056, -057
14 17 Tri Pointe Homes IE-SD, Inc. 363-940-038
15 18 Boos-Up Lake Elsinore 377-243-024
16 19 Pennington Industrial, LLC 377-160-051, -052, -053 17 20 Lake Elsinore Lakeshore, LLC and
Erin Crowder 379-230-001 and 379-230-002
18 21 Tri Pointe Homes IE-SD, Inc. 379-060-005, -022, and -027 19 22 Vista Emerald, LLC 370-050-019, -020, -032
20 23 Pulte Home Co. See Next Page
21 24 Lake Street Properties, LP 390-130-050
22 25 RA & B Development, LLC 377-220-037
EXHIBIT B (cont.)
ANNEXATION NO. 1

ASSESSOR'S PARCEL NUMBERS
Assessor's Parcel Numbers
358710001 358710002 358710003 358710004 358710005 358710006 358710007 358710008 358710009 358710010 358710011 358710012 358710013 358710014 358710015 358710016 358710017 358710018 358710019 358710020 358710021 358710022 358710023 358710024 358710025 358710026 358710027 358710028 358710029 358710030 358710031 358710032 358710033 358710034 358710035 358710036 358710037 358710038 358710039 358710040 358710041 358711001 358711002 358711003 358711004 358711005 358711006 358711007 358712001 358712002 358712003 358712004 358712005 358712006 358712007 358712008 358712009 358712010 358712011 358712012 358712013 358712014 358712015 358712016 358712017 358712018 358712019 358712020 358712021 358712022 358712023 358712024 358712025 358712026
ANNEXATION NO. 4

ASSESSOR'S PARCEL NUMBERS
Assessor's Parcel Numbers
379490004 379490005 379490006 379490007 379490008 379490009 379490010 379491001 379491002 379491003 379491004 379491005 379491006 379491007 379491008 379491010 379491011 379491012 379491013 379491014 379491017 379491018 379491019 379491020 379491021 379491022 379491023 379491024 379491025 379491026 379491027 379491028 379491029 379491030 379491031 379491032 379491033 379491034 379491035 379491036 379491037
ANNEXATION NO. 6

ASSESSOR'S PARCEL NUMBERS
Assessor's Parcel Numbers
379051001 379051002 379051003 379051004 379051005 379051006 379051007 379051009 379051010 379051011 379051013 379051014 379051015 379051016 379051018 379051019 379051020 379051021 379051023 379051024 379051025 379051026 379051027 379051028 379051029 379051031 379051032 379051033 379051034 379051035 379051036 379051037 379051038 379051040 379051041 379051042 379051043 379051045 379051046 379051047 379051048 379051049 379051051 379051052 379051053 379051054 379051055 379051056 379051057 379051058 379051061 379051062 379051063 379051064 379051066 379051067 379051068 379051069 379051071 379051072 379051073 379051074 379051075 379051077 379051078 379051079 379051080 379051081 379051083 379051084 379051085 379051086 379051087 379051089 379051090 379051091 379051092 379052001 379052002 379052003 379052004 379052005 379052006 379052007 379052008 379052009 379052011 379052012 379052013 379052014 379052016 379052017 379052018 379052019 379052020 379052022 379052023 379052024 379052025 379052026 379052027 379052028 379052029 379052031 379052032 379052033 379052034 379052035 379052036 379052037 379052038 379052039 379052040 379052042 379052043 379052044 379052045 379052046 379052047 379052049 379052050 379052051 379052052 379052053 379052054 379052056 Assessor's Parcel Numbers
379052057 379052058 379052059 379052060 379052061 379052062 379052064 379052065 379052066 379052067 379052068 379052087 379052088 379052089 379052090 379052091 379052092 379052094 379052095 379052096 379052097 379052098 379053001 379053002 379053003 379053004 379053005 379053006 379053007 379053008 379053009 379053010 379053011 379053012 379053014 379053015 379053016
ANNEXATION NO. 9

ASSESSOR'S PARCEL NUMBERS
Assessor's Parcel Numbers
347110021 347580007 347580001 347580002 347580003 347580004 347580005 347580006 347581001 347581002 347581003 347581004 347581005 347581006 347581007 347581008 347582001 347582002 347582003 347582004 347582005 347582006 347582007 347582008 347582009 347580010 347582023 347582019 347582018 347582017 347582016 347582015 347582014 347582013 347582012 347582021 347560012 347560013 347560014 347560015 347560016 347560017 347560018 347560019 347560043 347560020 347560021 347560022 347560023 347560024 347560025 347560026 347560027 347560028 347560044 347560029 347560030 347560031 347560032 347560033 347560034 347560035 347560036 347560037 347560038 347560039 347560040 347560041 347560042 347560001 347560002 347560003 347560004 347560005 347560006 347560007 347560008 347560009 347560010 347560011 347570001 347570002 347570003 347570004 347570005 347570006 347570007 347570008 347570009 347570010 347570011 347570012 347570013 347570014 347561001 347561002 347561003 347561004 347561005 347561006 347561007 347561008 347561009 347561010 347561011 347561012 347561013 347561014 347561015 347561016 347561017 347561018 347570015 347570016 347570017 347570018 347570019 347570020 347570021 347570022 347571001 347571002 347571003 347571004 347571005 347571006 347571007 347571008 347571009 347571010 347571011 347571012 347571013 347571014 347571015 347571016 347571017 347571018 347571019 347571020 347571021 347571022 347571023 347571024 347571025 347571026 347571027 347571028 347571029 347562001 347562002 347562003 347562004 347562005 347562006 347562007 347562008 347562009 347562010 347562011 347562012 347562013 347562014 347562015 347562016 347562017
EXHIBIT B (cont.)
ANNEXATION NO. 10

ASSESSOR'S PARCEL NUMBERS
Assessor's Parcel Numbers
373071040 373074054 373074040 373074047 373074033 373074026 373074017 373074002 373074007 373074049 373074035 373074042 373074028 373074022 373074013 373074018 373074003 373074008 373074050 373074036 373074043 373074029 373074023 373074014 373074019 373074004 373074009 373074051 373074037 373074044 373074030 373074024 373074015 373074020 373074005 373074010 373074052 373074038 373074045 373074031 373074025 373074016 373074001 373074006 373074011 373074053 373074039 373074046 373074032
ANNEXATION NO. 20

ASSESSOR'S PARCEL NUMBERS
Assessor's Parcel Numbers
389090032 389090033 389090034 389090035 389790000 389790001 389790002 389790003 389790004 389790005 389790006 389790007 389790008 389790009 389790010 389790011 389790012 389790013 389790014 389790015 389790016 389790017 389790018 389790019 389790020 389790021 389790022 389790023 389790024 389790025 389790026 389790027 389790028 389790029 389790030 389790031 389790032 389790033 389790034 389790035 389790036 389790037 389790038 389790039 389790040 389790041 389790042 389790044 389790045 389790046 389790047 389790048 389800001 389800002 389800003 389800004 389800005 389800006 389800007 389800008 389800009 389800010 389800011 389800012 389800013 389800014 389800015 389800016 389800017 389800018 389800019 389800020 389800021 389800022 389800023 389800024 389801001 389801002 389801003 389801004 389801005 389801006 389801007 389801008 389801009 389801010 389801011 389801012 389801013 389801014 389801015 389801016 389801017 389801018 389801019 389801020 389801021 389801022 389801023 389801024 389801025 389801026 389801027 389801028 389801029 389801030 389801031 389802001 389802002 389802003 389802004 389802005 389802006 389802007 389802008 389802009 389802010 389802011 389802012 389802013 389802014 389802015 389802016 389802017 389802018 389802019 389802020 389810001 389810002 389810003 389810004 389810005 389810006 389810007 389810008 389810009 389810010 389810011 389810012 389810013 389810014 389810015 389810016 389810017 389810018 389810019 389810020 389810021 389810022 389810023 389810024 389810025 389810026 389810027 389810028 389810029 389810030 389810031 389810032 389810033 389810034 389810035 389811001 389811002 389811003 389811004 389811005 389811006 389811007 389811008 389811009 389811010 389811011 389812001 389812002 389812003 389812004 389812005 389812006 389812007 389812008 389812009 389812010 389812011 389812012 389812013 389812014 389812015 389812016 389812017 389820001 389820002 389820003 389820004 389820005 389820006 389820007 389821001 389821002 389821003 389821004 389821005 389821006 389822001 389822002 389822003 389822004 389822005 389822006 389822007 389822008 389822009 389822010 389822011 389822012 389822013 389822014 389822015 389822016 389822017 389822018 389822019 389822020 389822021 389822022 389822023 389822024 389822025 389822026 389822027 389822028 389822029 389822030 389822031 Assessor's Parcel Numbers
389822032 389822033 389822034 389822035 389822036 389822037 389823001 389823002 389823003 389823004 389823005 389823006 389823007 389823008 389830001 389830002 389830003 389830004 389830005 389830006 389830007 389830008 389830009 389830010 389830011 389830012 389830013 389830014 389830015 389830016 389830017 389830018 389830019 389830020 389830021 389830022 389831001 389831002 389831003 389831004 389831005 389831006 389831007 389831008 389831009 389831010 389831011 389831012 389831013 389831014 389831015 389831016 389831017 389831018 389831019 389831020 389832001 389832002 389832003 389832004 389832005 389832006 389832007 389832008 389832009 389832010 389832011 389840001 389840002 389840003 389840004 389840005 389840006 389840007 389840008 389840009 389840010 389840011 389840012 389840013 389840014 389840015 389840016 389840017 389840018 389840019 389840020 389840021 389840022 389840023 389840024 389841001 389841002 389841003 389841004 389841005 389841006 389841007 389841008 389841009 389841010 389841011 389841012 389841013 389841014 389841015 389841016 389841017 389841018 389841019 389841020 389841021 389841022 389841023 389841024 389841025 389841026 389841027 389841028 389841029 389841030 389841031 389841032 389841033 389841034 389841035 389841036 389841037 389841038 389841039 389841040 389841041 389841042 389841043 389841044 389841045 389841046 389841047 389841048 389841049 389841050 389841051 389841052 389841053 389841054

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Lake Elsinore City CouncilDecember 10, 2024

Lake Elsinore City Council
December 10, 2024