Agenda packet, closed session — Lake Elsinore City Council, August 25, 2026 (part 1 of 3)

City of Lake Elsinore Meeting Date:

City Council Meeting August 25, 2026
Agenda
Cultural Center Meeting Time:
183 N. Main Street Closed Session: None
Lake Elsinore, CA 92530 Open Session: 7:00 PM
And via Zoom
Mayor Magee
Mayor Pro Tem Sheridan
Council Member Tisdale
Council Member Manos
Council Member Carroll
Welcome
The City of Lake Elsinore appreciates your attendance and participation. Citizens’ comments, input, and interests provide the City Council with valuable information regarding community issues.

Meeting Information
Meetings are held on the 2nd and 4th Tuesdays of every month, and the agenda is posted outside City Hall 72 hours prior to each meeting. The agenda and related reports are also available on the City’s website at www.Lake-Elsinore.org.

Attendance
Members of the public may attend this meeting in person or remotely via Zoom. Meetings are conducted in person at the Lake Elsinore Cultural Center, televised live on Spectrum Cable Station Channel 29 and Frontier Cable Channel 31, streamed online at http://www.lake-elsinore.org/city-government/city-council/webcastvideos, and remotely via Zoom. If you are attending the meeting in person, please park in the parking lot across the street from the Cultural Center to assist us in limiting the impact of meetings on the Downtown Business District. Thank you for your cooperation. Join the meeting via the Zoom application or call in at 1- 699-254-5252 and press pound (#) and enter Meeting ID 875 3516 9232 and passcode 807641.

Public Comments – Addressing the City Council
We respectfully ask those interested in addressing the City Council to either submit a request to speak online at http://www.lake-elsinore.org/city-government/agendas-and-minutes or submit a completed “Request to Speak” form to the City Clerk at the meeting. This Form is available on the table located inside the Council Chamber. Public comment may be provided during the Public Comment portion(s) of the meeting or to address specific agenda items, subject to the time limits and procedures announced by the Mayor or Presiding Officer. Members of the public wishing to provide comments on Agenda items must note the item on the “Request to Speak” form. Persons requesting to speak will be called to address the City Council when the applicable item is considered by the City Council during the meeting. Members of the public who wish to speak remotely should follow the instructions provided in the Zoom meeting and/or announced by staff at the meeting. Speakers are subject to the same time limits and decorum requirements as in-person speakers. Inperson speakers will be called to speak, followed by remote speakers.

Written Communications
If you would like to submit written comments, you may do so prior to the meeting either by entering them online at the link above or emailing them to the City Clerk at [email protected]. Any written communications or additional documents distributed to the City Council within 72 hours of the meeting will also be made available to the public in accordance with Government Code Section 54957.5.

Language Access
Translated agenda materials and meeting information, if required, are available at http://www.lakeelsinore.org/city-government/agendas-and-minutes. For language assistance or interpretation requests, please contact the City Clerk at [email protected].

Accessibility Accommodations
In compliance with the Americans with Disabilities Act, any person with a disability who requires a modification or accommodation in order to participate in a meeting should contact the City Clerk’s Department at (951) 674- 3124, Option 6, at least 48 hours before the meeting to make reasonable arrangements to ensure accessibility.

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

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

The Anchors are the City of Lake Elsinore’s unique community assets and opportunities: The Lake, Downtown, and Action and Adventure.

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

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

To read the plan and learn more about its implementation, visit www.Lake-Elsinore.org/DreamExtreme2040.

City Council Agenda August 25, 2026
City of Lake Elsinore Page 2
CALL TO ORDER - 7:00 P.M.

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

PLEDGE OF ALLEGIANCE
ROLL CALL

PRESENTATIONS/CEREMONIALS
Business in Action Monthly Spotlight for August 2026 – Lewis Cleaners Recognize Lewis Cleaners as the City of Lake Elsinore’s Business in Action Monthly Spotlight for August 2026.
2026 Summer Aquatics Update
PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 1 MINUTE
(Please read & complete a Request to Address the City Council/Successor Agency form prior to the start of the meeting and turn it in to the City Clerk/Clerk.  The Mayor/Chair or City Clerk/Clerk will call on you to speak.)
CITY COUNCIL CONSENT CALENDAR
Minutes of the Special City Council Meeting of August 7, 2026 and Regular City Council Meeting of August 11, 2026
Approve the Minutes.

CC Warrant Report Dated July 13, 2026 to July 19, 2026
Receive and file.

CC Warrant Report Dated July 20, 2026 to July 26, 2026.docx Receive and file.

CC Investment Report for July 2026
Receive and file the Investment Report for July 2026.

Acquisition of Environmental Mitigation Property
Approve the Purchase and Sale Agreement With B-Max Mitigation Property, LLC; Lake Elsinore Mitigation Site LLC; John J. Johnson Revocable Living Trust Dated August 9, 2017; and Hushmand Taghdiri Trust Dated February 20, 1998, For the Acquisition of Approximately 44.69 Acres of Real Property (APNs 371-090-022, -003, -004; 371-150- 010; and 371-160-007) located on the Lake Elsinore Shoreline for Environmental Mitigation Purposes for a Purchase Price of $12,265,000 plus ancillary closing costs and authorize the City Manager to execute the Agreement and such other ancillary documents as may be necessary to complete the purchase.

1. 2.

3. 4.

4.1 4.2

5. 6.

6.1 6.2

6.3 6.4

6.5 City Council Agenda August 25, 2026
City of Lake Elsinore Page 3
On-Call Agreement with Nathan Ashbrook for Repairs, Maintenance, Servicing, and Related Work Associated with the Vintage Trailers at Launch Pointe Recreation Destination & RV Park
Approve and authorize the City Manager to execute a On-Call Agreement with Nathan Ashbrook for repairs, maintenance, servicing, and related work associated with the vintage trailers at Launch Pointe Recreation Destination & RV Park for an annual amount not to exceed $50,000 in such final form as approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $5,000 for uncertainties and adjustments.

Amendment No. 3 with Blais & Associates, LLC for Grant Writing Services Approve and authorize the City Manager to execute Amendment No. 3 to the Agreement for Professional Services with Blais & Associates, LLC to provide grant writing and administration services in an amount not to exceed $80,000 per fiscal year in such final form as approved by the City Attorney.

Contractor Services Agreement with Jade Window Coverings, LLC for the Design, Purchase, and Installation of the Interior Office Window Coverings in the New City Hall Project (CIP Project No. Z20006)
Approve and authorize the City Manager to execute a Contractor Services Agreement with Jade Window Coverings, LLC for the design, purchase, and installation of the interior office window coverings in the New City Hall Project in an amount not to exceed $63,411.00 in such final form as approved by the City Attorney, authorize the City Manager to execute change orders not to exceed a 10% contingency of $6,341.00 for uncertainties and adjustments, and authorize the City Clerk to record the Notice of Completion once the work is complete.

Approval of Final Tract Maps 35337-3, 35337-4, and 35337, Spyglass Approve Final Tract Maps No. 35337-3, 35337-4, and 35337 subject to the City Engineer‘s acceptance as being true and correct, authorize the City Clerk to sign the maps and arrange for their recordation, and approve and authorize the City Manager to execute the construction agreements.

Amendment No. 3 to the Professional Services Agreement with Chen Ryan Associates for the Murrieta Creek Multi-Use Trail Project Approve and authorize the City Manager to execute Amendment No. 3 to the Professional Services Agreement with Chen Ryan Associates for geotechnical testing and construction support services for the Murrieta Creek Multi-Use Trail Project in the amount of $60,200 for a total contract amount not to exceed $772,208.83 in such final form as approved by City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $6,020 for unanticipated costs.

6.6 6.7

6.8 6.9

6.10 City Council Agenda August 25, 2026
City of Lake Elsinore Page 4
Purchase of One (1) Crew Cab Truck
Approve and authorize the City Manager to execute a Purchase Order with Moss Brothers for the purchase of one (1) crew cab truck in an amount not to exceed $64,622.44 in such final form as approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $6,462 for unanticipated costs.

SUCCESSOR AGENCY CONSENT CALENDAR
Minutes of the Regular Successor Agency Meeting of August 11, 2026 Approve the Minutes
SA Warrant Report Dated July 13, 2026 to July 19, 2026
Receive and file.

SA Warrant Report Dated July 20, 2026 to July 26, 2026
Receive and file.

SA Investment Report for July 2026
Receive and file the Investment Report for July 2026.

PUBLIC HEARING
Extension of Time Request for Tentative Parcel Map No. 38124 (North Elsinore Business Park Project) located between Collier Avenue and El Toro Road Find that pursuant to the California Environmental Quality Act (CEQA) Guidelines Section 15162, the extension of time request would not have a significant effect on the environment, and no new environmental documentation is necessary because all potentially significant effects have been adequately analyzed in a previously adopted Mitigated Negative Declaration (SCH No. 2022030368); and

1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, CALIFORNIA, APPROVING A FOUR-YEAR EXTENSION OF TIME FOR TENTATIVE PARCEL MAP NO. 38124 TO JUNE 14, 2030.

2. BUSINESS ITEM
Urgency Ordinance Establishing a 45-day Moratorium on Data Center Development Pursuant to Government Code Section 65858
Adopt AN URGENCY ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, ESTABLISHING A 45-DAY MORATORIUM ON THE

ACCEPTANCE AND PROCESSING OF NEW ENTITLEMENT APPLICATIONS RELATED TO DATA CENTERS.

6.11 7.

7.1 7.2

7.3 7.4

8. 8.1

9. 9.1
City Council Agenda August 25, 2026
City of Lake Elsinore Page 5
PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 3 MINUTES
(Please read & complete a Request to Address the City Council/Successor Agency form prior to the start of the meeting and turn it in to the City Clerk/Clerk. The Mayor/Chair or City Clerk/Clerk will call on you to speak.)
CITY MANAGER COMMENTS
CITY ATTORNEY COMMENTS
CITY COUNCIL COMMENTS/REPORTS ON MEETINGS ATTENDED

ADJOURNMENT
The Lake Elsinore City Council will adjourn to the next Regular meeting on Tuesday, September 8, 2026 in the Cultural Center located at 183 N. Main Street. Closed Session will commence at 5:00 p.m. or such later time as noticed on the Agenda, and the regular Open Session business meeting will commence at 7:00 p.m.

AFFIDAVIT OF POSTING
I, Luz Reyes, CMC, Deputy City Clerk of the City of Lake Elsinore, do hereby affirm that a copy of the foregoing agenda was posted at City Hall at 5:30 p.m. on Thursday, August 20, 2026. ______________________________
Candice Alvarez, MMC, City Clerk

10. 11.

12. 13.

14. 15.

City Council Agenda August 25, 2026
City of Lake Elsinore Page 6

Page 1 of 2 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Gina Gonzalez, Director of Economic Development and Leg Affairs Date: August 25, 2026
Subject: Business in Action Monthly Spotlight for August 2026 – Lewis Cleaners Recommendation
Recognize Lewis Cleaners as the City of Lake Elsinore’s Business in Action Monthly Spotlight for August 2026.

Background
The City of Lake Elsinore's Business in Action Monthly Spotlight Program recognizes exemplary local businesses that contribute to the city's economic vitality, community engagement, and overall quality of life. For August 2026, the city is proud to recognize Lewis Cleaners, a trusted local business that has proudly served the Lake Elsinore community with professional dry cleaning and garment care services.

Since 1989, Lewis Cleaners has built a reputation for quality, reliability, and exceptional customer service. As a locally owned business, the company is committed to helping residents look their best by providing expert dry cleaning, laundry, alterations, and specialty garment care. Their attention to detail and dedication to customer satisfaction has made them a valued part of the Lake Elsinore business community.

Beyond providing outstanding service, Lewis Cleaners demonstrates a strong commitment to the local community through its long-standing relationships with residents, support of local organizations, and dependable service to families and businesses alike. By maintaining high standards of professionalism and care, the business continues to contribute to the city's vibrant commercial environment and quality of life.

Spotlight for August 2026 – Lewis Cleaners

Page 2 of 2 ends

Discussion
Since opening its doors in 1989, Lewis Cleaners for generations have become a trusted name in professional garment care, serving the Lake Elsinore community with quality, reliability, and exceptional customer service. The business provides expert dry cleaning, laundry services, alterations, and specialty garment care for residents, professionals, and local businesses, helping customers look and feel their best for every occasion.

What sets Lewis Cleaners apart is its commitment to personalized service, attention to detail, and consistent quality. Every garment is treated with care using professional cleaning techniques and high-quality products to ensure customers receive outstanding results. This dedication to excellence has earned Lewis Cleaners the trust and loyalty of generations of customers and established the business as a valued part of the local community.

In addition to providing exceptional garment care, Lewis Cleaners contributes to Lake Elsinore's strong local economy by supporting residents, businesses, schools, and community organizations with dependable, professional service. As a long-standing neighborhood business, Lewis Cleaners exemplifies the importance of locally owned businesses that strengthen the community through lasting customer relationships and a commitment to service.

Lewis Cleaners represents the dedication, integrity, and community spirit that define Lake Elsinore's business community. Through its continued commitment to quality, customer satisfaction, and local service, Lewis Cleaners is a deserving recipient of the City's August 2026 Business in Action Monthly Spotlight.

Fiscal Impact
No Fiscal Impact.

Attachments
None.

Economic Development

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Beau Davis, Acting Recreation Director
Date: August 25, 2026
Subject: 2026 Summer Aquatics Update

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Candice Alvarez, MMC, City Clerk
Date: August 25, 2026
Subject: Minutes of the Special City Council Meeting of August 7, 2026 and Regular City Council Meeting of August 11, 2026
Recommendation
Approve the Minutes.

Attachments
Attachment 1 – 8/7/2026 SM Draft Minutes
Attachment 2 – 8/11/2026 Draft Minutes
City of Lake Elsinore Meeting Date:

City Council Special Meeting August 7, 2026
Minutes - Draft
Meeting Time:

Closed Session: 2:00 P.M.

Mayor Magee Open Session: 2:00 P.M.

Mayor Pro Tem Sheridan
Council Member Tisdale Cultural Center
Council Member Manos 183 N. Main Street
Council Member Carroll Lake Elsinore, CA 92530

1. CALL TO ORDER
The Special Meeting of the City Council was called to order at 2:00 p.m.

2. PLEDGE OF ALLEGIANCE
Mayor Magee led the Pledge of Allegiance.

3. ROLL CALL

Present: 4 - Council Members Tisdale and Manos; Mayor Pro Tem Sheridan; and Mayor Magee

Absent: 1 - Council Member Carroll

4. PUBLIC COMMENTS
There were no speakers.

5. BUSINESS ITEMS

5.1 Environmental Mitigation Strategies – Galvez Property Receive a presentation regarding mitigation strategies, including an overview of the regulatory framework governing the mitigation process, alternative mitigation strategies, the biological values of the Galvez Property, the proposed mitigation model, and examples of similar mitigation programs.

Ryan Thomason and Shawn Gatchel-Hernandez presented the staff report.

There were no speakers.

Council Member Carroll arrived at 2:36 p.m.

City Council Minutes - Draft August 7, 2026
City of Lake Elsinore Page 2

6. CLOSED SESSION

6.1 CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Gov’t Code Section 54956.8)
Property: APN’s 371-090-022, 003, 004, 371-150-010 & 371-160-007 Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and GMB Land, LLC/Steve Galvez Under negotiation: Price and terms of payment

5. RECESS
The City Council recessed into Closed Session at 3:16 p.m.

6. RECONVENE
The Special Meeting of the City Council reconvened at 4:08 p.m.

7. ROLL CALL

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

Absent: 0 - None

8. CLOSED SESSION REPORT
City Attorney Leibold reported that one item was discussed; however, no reportable action was taken.

9. ADJOURNMENT
The Lake Elsinore City Council adjourned at 4:08 p.m. to the next Regular meeting on Tuesday, August 11, 2026, 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.

Candice Alvarez, MMC
City Clerk
City of Lake Elsinore Meeting Date:

City Council Meeting August 11, 2026
Minutes - Draft
Meeting Time:

Closed Session: 5:00 P.M.

Mayor Magee Open Session: 7:00 P.M.

Mayor Pro Tem Sheridan
Council Member Tisdale Cultural Center
Council Member Manos 183 N. Main Street
Council Member Carroll Lake Elsinore, CA 92530

1. CALL TO ORDER
The Regular Meeting of the City Council was called to order at 5:00 p.m.

2. ROLL CALL

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

Absent: 0 - None

3. PUBLIC COMMENTS ON CLOSED SESSION ITEMS
There were no speakers.

4. CLOSED SESSION – 5:00 P.M.

4.1 CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Gov’t Code Section 54956.8)
Property: APN’s 371-090-022, 003, 004, 371-150-010 & 371-160-007 Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and GMB Land, LLC/Steve Galvez Under negotiation: Price and terms of payment

4.2 CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Gov’t Code Section 54956.8)
Property: APN’s 363-130-060 and 363-130-054
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Chen J Chen Under negotiation: Price and terms of payment
City Council Minutes - Draft August 11, 2026
City of Lake Elsinore Page 2

4.3 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

4.4 CONFERENCE WITH LEGAL COUNSEL—EXISTING LITIGATION
(Existing litigation pursuant to paragraph (1) of subdivision (d) of Gov’t Code Section 54956.9
Name of case: City of Lake Elsinore v Harry E. Mitchell, Debra Mitchell, and Administrator of the Estate of Harry Edward Mitchell; and All Persons Unknown Claiming an Interest in the Property Commonly Described as 164 Main Street, Lake Elsinore, California (Case Number: CVRI2102535)

5. RECESS
The City Council recessed into Closed Session at 5:01 p.m.

6. RECONVENE/CALL TO ORDER - 7:00 P.M.

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.

7. PLEDGE OF ALLEGIANCE
Mayor Magee led the Pledge of Allegiance.

8. ROLL CALL

Present: 5 - Council/Agency Members Tisdale, Manos, and Carroll; Mayor Pro Tem/Vice Chair Sheridan; and Mayor/Chair Magee

Absent: 0 - None

9. CLOSED SESSION REPORT
City Attorney Leibold reported that all four items were discussed; however, no reportable action was taken.

10. PRESENTATIONS/CEREMONIALS

10.1 CalFire 2026 Second Quarter Statistical Update
This item was continued to August 25, 2026.

11. PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 1 MINUTE
Leo Zoller and Nick Fitch were called to speak.

City Council Minutes - Draft August 11, 2026
City of Lake Elsinore Page 3

12. CITY COUNCIL CONSENT CALENDAR
Moved by Council Member Manos, seconded by Mayor Pro Tem Sheridan to approve the City Council Consent Calendar with Agenda Item No. 12.6 and 12.7 being removed for discussion. The motion carried by the following vote:

Yes (5): Council Members Tisdale, Manos, and Carroll; Mayor Pro Tem Sheridan; and Mayor Magee
Absent (0): None
Carried (5 to 0)

12.1 Minutes of the Regular City Council Meeting of July 28, 2026 Approve the Minutes.

This item was approved on the City Council Consent Calendar.

12.2 CC Warrant Report Dated June 29, 2026 to July 5, 2026 Receive and file.

This item was approved on the City Council Consent Calendar.

12.3 CC Warrant Report Dated July 6, 2026 to July 12, 2026 Receive and file.

This item was approved on the City Council Consent Calendar.

12.4 Amendment No. 1 to the Short Form Purchase of Service Contract with Principal Interest for Security Services at the New City Hall Construction Site (CIP Project No. Z20006)
Approve and authorize the City Manager to execute Amendment No. 1 to the Short Form Purchase of Service Contract with Principal Interest for Security Services at the new City Hall construction site (CIP Project No. Z20006) for an additional amount not to exceed $50,544.00 in such final form as approved by the City Attorney.

This item was approved on the City Council Consent Calendar.

City Council Minutes - Draft August 11, 2026
City of Lake Elsinore Page 4

12.5 Amendment No. 1 to the Law Enforcement Agreement with the County of Riverside Sheriff’s Department for Law Enforcement Services Approve and authorize the Mayor to execute Amendment No. 1 to the Law Enforcement Agreement with the County of Riverside Sheriff's Department for Law Enforcement Service to amend the Level of Service in such final form as approved by the City Attorney.

This item was approved on the City Council Consent Calendar.

12.6 Public Works Agreement with Precision Works, Inc. for the Demolition of the Building Located at 164 S. Main St.

Approve and authorize the City Manager to execute a Public Works Construction Agreement with Precision Works, Inc. in an amount not to exceed $198,000.00 for the demolition of the building located at 164 S. Main St., in such final form as approved by the City Attorney, authorize the City Manager to execute change orders not to exceed the 10% contingency amount of $19,800.00, and authorize the City Clerk to record the Notice of Completion once work is completed.

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

12.7 Frontier Foodservice purchase for the Design, Purchase, and Installation of Kitchen Appliances for the New City Hall Rooftop (CIP Project No. Z20006) Approve and authorize the City Manager to purchase from Frontier Foodservice services and equipment for the Design, Purchase, and Installation of the Kitchen Appliances for the New City Hall Rooftop in an amount not to exceed $147,375.96; authorize the City Manager to execute Change Orders not to exceed a 10% contingency amount of
$14,737.00 for uncertainties and adjustments.

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

12.8 Purchase of Real Property located at the northeast corner of Main Street and Prospect Street for Downtown Parking (APN 373-151-014)
Approve the purchase of a vacant parcel of real property located at the northeast corner of Main Street and Prospect Street for downtown parking purposes for a purchase price of $135,000, plus closing costs, and authorize the City Manager to execute the Agreement For Purchase and Sale and Joint Escrow Instructions and such other ancillary documents as may be necessary to complete the purchase, in such final form as approved by the City Attorney.

This item was approved on the City Council Consent Calendar.

City Council Minutes - Draft August 11, 2026
City of Lake Elsinore Page 5

12.9 Biennial Review of the Conflict of Interest Code
Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING RESOLUTION NO. 2024-47 UPDATING THE CITY OF LAKE ELSINORE CONFLICT OF INTEREST CODE.

This item was approved on the City Council Consent Calendar.

12.10 City Voting Delegate and Alternate for the 2026 League of California Cities Annual Conference
Appoint Council Member Manos as the City’s Voting Delegate and City Manager Simpson as the City's Alternate Voting Delegate for the 2026 League of California Cities Annual Conference to be held in Anaheim, CA, September 23-25, 2026.

This item was approved on the City Council Consent Calendar.

12.11 Amendment No. 2 to the Agreement with GEI Consultants, Inc. for Lake Water Quality Testing & Reporting
Approve and authorize the City Manager to execute Amendment No. 2 to the Professional Services Agreement with GEI Consultants, Inc. for lake water quality testing and reporting for an additional amount of $50,000 for a new not to exceed amount of $200,000 in such final form as approved by the City Attorney.

This item was approved on the City Council Consent Calendar.

12.12 Notice of Decision – Planning Commission Approval of Planning Application No. 2026-04 for a Conditional Use Permit to Legalize an Existing Cattery Located in a Residential Accessory Structure at 131 Via De La Valle Receive and file the Notice of Decision for Planning Application No. 2026-04 approved by the Planning Commission on July 21, 2026.

This item was approved on the City Council Consent Calendar.

12.13 Amendment No. 2 to Contractor Services Agreements for On-Call Geotechnical Services
Approve and authorize the City Manager to execute Amendment No. 2 to the Contractor Services Agreements with LOR Geotechnical Group, Inc. and ALTA California Geotechnical, Inc. for on-call geotechnical testing services to extend the terms for an additional 12 months in the amounts not to exceed $80,000 per fiscal year in such final form as approved by the City Attorney.

This item was approved on the City Council Consent Calendar.

City Council Minutes - Draft August 11, 2026
City of Lake Elsinore Page 6

12.14 Approval of Parcel Map No. 39310 for Financing Purposes Approve Parcel Map No. 39310 for financing purposes, subject to the City Engineer's acceptance as being true and correct and authorize the City Clerk to sign the Parcel Map and arrange for its recordation.

This item was approved on the City Council Consent Calendar.

12.15 Professional Services Agreement with Fehr & Peers for Traffic Engineering Services to Evaluate the Alberhill Region
Approve and authorize the City Manager to execute a Professional Services Agreement with Fehr & Peers for Traffic Engineering Services to Evaluate the Alberhill Region in an amount not to exceed $50,000 in such final form as approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $5,000 for uncertainties and adjustments.

This item was approved on the City Council Consent Calendar.

12.16 Purchase of Two (2) Traffic Signal Bucket Trucks
Approve and authorize the City Manager to execute a Purchase Order with Altec Industries, Inc., for the purchase of two (2) Traffic Signal Bucket Trucks in an amount not to exceed $414,616.45 in such final form as approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $41,461 for unanticipated costs.

This item was approved on the City Council Consent Calendar.

ITEMS REMOVED FROM THE CITY COUNCIL CONSENT CALENDAR FOR DISCUSSION

12.6 Public Works Agreement with Precision Works, Inc. for the Demolition of the Building Located at 164 S. Main St.

City Attorney Leibold presented the staff report.

Ace Vallejos was called to speak.

City Council Minutes - Draft August 11, 2026
City of Lake Elsinore Page 7
Moved by Council Member Carroll, seconded by Mayor Pro Tem Sheridan to approve staff’s recommendation. The motion carried by the following vote:

Yes (5): Council Members Tisdale, Manos, and Carroll; Mayor Pro Tem Sheridan; and Mayor Magee
Absent (0): None
Carried (5 to 0)

Ace Vallejos was called to speak.

Moved by Council Member Manos, seconded by Council Member Carroll to approve staff’s recommendation. The motion carried by the following vote:

Yes (5): Council Members Tisdale, Manos, and Carroll; Mayor Pro Tem Sheridan; and Mayor Magee
Absent (0): None
Carried (5 to 0)

13. SUCCESSOR AGENCY CONSENT CALENDAR
Moved by Vice Chair Sheridan, seconded by Agency Member Manos to approve the Successor Agency Consent Calendar. The motion carried by the following vote:

Yes (5): Agency Members Tisdale, Manos, and Carroll; Vice Chair Sheridan; and Chair Magee
Absent (0): None
Carried (5 to 0)

13.1 Minutes of the Regular Successor Agency Meeting of July 28, 2026 Approve the Minutes.

This item was approved on the Successor Agency Consent Calendar.

City Council Minutes - Draft August 11, 2026
City of Lake Elsinore Page 8

13.2 SA Warrant Report Dated June 29, 2026 to July 5, 2026 Receive and file.

This item was approved on the Successor Agency Consent Calendar.

13.3 SA Warrant Report Dated July 6, 2026 to July 12, 2026 Receive and file.

This item was approved on the Successor Agency Consent Calendar.

14. PUBLIC HEARINGS

15. BUSINESS ITEMS

16. PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 3 MINUTES
Jeanie Corral, Adelia Libuszowski, Isaiah Acuna, Jamie Madden, Danielle Goking, Orquidea Wilcox, Briana Wilcox, Frances Mirabella, Michele Campbell, Daniel Miller, Ace Vallejos, and Ruben Villamil were called to speak.

17. CITY MANAGER COMMENTS
City Manager Simpson wished his wife a happy 30th anniversary.

18. CITY ATTORNEY COMMENTS
City Attorney Leibold clarified and addressed additional concerns regarding the Ambassador Hotel.

19. CITY COUNCIL COMMENTS/REPORTS ON MEETINGS ATTENDED
Council Member Carroll thanked the community for attending National Night Out on August 4, 2026 at McVicker Canyon Park.

Council Member Tisdale shared updates from the Homeless Task Force; highlighted the success of the "Boots in the Sand" event on August 8, 2026 at Launch Pointe; and congratulated his daughter, Lauren, on graduating from the U.S. Air Force boot camp.

Council Member Manos requested that the City Attorney draft a moratorium on data centers; spoke on the action taken on the Ambassador Hotel; reported on his attendance at the Airport Land Use Commission meeting; and spoke on the City's use of flock cameras.

Mayor Pro Tem Sheridan reminded the community that they may ride Riverside Transit Agency buses for 25 cents through August 31, 2026 and youth may ride free through December 31, 2027; and shared his participation in the Elsinore Valley Regional Pony Baseball Leadership & Certification weekend with Council Member Carroll.

City Council Minutes - Draft August 11, 2026
City of Lake Elsinore Page 9
Mayor Magee invited the community to attend and participate in the SCCA Autocross event August 15-16,2026 at Diamond Stadium; and announced the grand opening of the Ice Cave on August 23, 2026.

20. ADJOURNMENT
The Lake Elsinore City Council adjourned at 8:15 p.m. to the next Regular meeting of Tuesday, August 25, 2026 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.

Candice Alvarez, MMC
City Clerk

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Shannon Buckley, Assistant City Manager
Date: August 25, 2026
Subject: CC Warrant Report Dated July 13, 2026 to July 19, 2026 Recommendation
Receive and file.

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

Attachments
Attachment 1 – City Warrant Summary
Attachment 2 – City Warrant List
JULY 13, 2026
TO JULY 19, 2026

CITY OF LAKE ELSINORE CITY WARRANT SUMMARY
FUND NO. FUND DESCRIPTION TOTAL
100 GENERAL 2,258,385.14 $
103 THE ANCHOR 545.59
110 GAS TAX 64,865.57
114 SB1186 CASp EDUCATION PROGRAM 335.60
130 LIGHTING, LANDSCAPE, MAINTENANCE DIST - CITYWIDE 21,872.16 135 LIGHTING, LANDSCAPE, MAINTENANCE DIST - NO. 1 1,633.20 155 NATIONAL POLLUTANT DISCHARGE ELIMINATION SYSTEM 6,423.74 180 LAUNCH POINTE 192,780.13
300 INSURANCE SERVICE (5,991.05)
305 INFORMATION SYSTEMS SERVICE 136,345.42
310 SUPPORT SERVICE 1,793.56
315 FLEET SERVICE 76,339.08
320 FACILITIES SERVICE 42,986.19
330 CFD 2015-2S MAINTENANCE SERVICES 1,101.11
500 CAPITAL IMPROVEMENT PLAN 646,512.44
620 COST RECOVERY TRUST DEPOSITS 21,447.71
655 CFD 2015-1S LAW, FIRE, PARAMEDIC SERVICES 320.95
GRAND TOTAL 3,467,696.54 $
Attachment 1 1 of 1
JULY 13, 2026
TO JULY 19, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
APA27000083 ALBERT WEBB & ASSOCIATES 16,572.50 $
APA27000084 ALLIED TRAFFIC EQUIPMENT RENTAL 1,600.00
APA27000085 AMBER AIR CONDITIONING, INC. 89,035.00
APA27000086 ANIMAL FRIENDS OF THE VALLEY 22,614.71
APA27000087 AUTOZONE PARTS, INC. 28.76
APA27000088 CA BUILDING STANDARDS COMMISSION 2,730.00
APA27000089 CALIFORNIA, DEPARTMENT OF JUSTICE 192.00
APA27000090 CALIFORNIA, DIVISION OF THE STATE ARCHITECT 335.60 APA27000091 CED LAGUNA 28,008.78
APA27000092 CHARTER COMMUNICATIONS 1,025.82
APA27000093 CODE PUBLISHING COMPANY 2,407.50
APA27000094 COLLINS COMPANY 8,500.00
APA27000095 COMMERCIAL TRANSPORTATION SERVICES 23,259.70 APA27000096 CONCENTRA 143.00
APA27000097 CORNWELL TOOLS 506.67
APA27000098 COUNTY OF RIVERSIDE, AUDITOR CONTROLLER / GAD-LAFCO 11,884.59 APA27000099 CR&R, INC. 842.79
APA27000100 DEPARTMENT OF CONSERVATION 7,754.24
APA27000101 DIRECTV 169.99
APA27000102 DISCOUNT HAULING & CLEANUP SERVICE 5,050.00 APA27000103 DOST ENGINEERING 20,794.80
APA27000104 ENVIROMINE, INC. 601.25
APA27000105 EWING 5,407.59
APA27000106 EXCEL LANDSCAPE, INC. 6,700.00
APA27000107 FCS INTERNATIONAL, INC 15,200.00
APA27000108 FIX AUTO LAKE ELSINORE 2,904.78
APA27000109 FRONTIER CALIFORNIA - INTERNET 1,178.43
APA27000110 FRONTIER CALIFORNIA, INC. 116.83
APA27000111 GREAT AMERICA FINANCIAL SERVICES 600.30
APA27000112 HELIX ENVIRONMENTAL PLANNING INC. 20,133.94 APA27000113 JOLLY JUMPS 3,465.00
APA27000114 LIEBERT CASSIDY WHITMORE 5,115.00
APA27000115 LIUNA LOCAL 777 756.00
APA27000116 NPG, INC. 13,640.00
APA27000117 O'REILLY AUTO STORES INC/FIRST CALL 982.19
APA27000118 PLACEWORKS, INC 1,437.50
APA27000119 PRESS-ENTERPRISE, THE 2,583.90
APA27000120 QUINN COMPANY 2,878.08
APA27000121 RAPID FIRE SAFETY & SECURITY LLC 786.04
APA27000122 RIGHTWAY SEPTIC TANK PUMPING 812.50
APA27000123 RIVERSIDE COUNTY HABITAT CONSERVATION AGENCY 45.00 Attachment 2 1 OF 3
JULY 13, 2026
TO JULY 19, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
APA27000124 RIVERSIDE COUNTY TRANSPORTATION & LAND MANAGEMENT 63,052.22 APA27000125 RP LANDSCAPE & IRRIGATION 88,236.44
APA27000126 SAAVEDRA, JOSUE DANIEL 172.00
APA27000127 SCOTT FAZEKAS & ASSOCIATES, INC. 437.50
APA27000128 SEALMASTER 213.35
APA27000129 SERVPRO OF CHINO 15,526.68
APA27000130 SOUTHERN CALIFORNIA EDISON CO. 518.39
APA27000131 STAUFFER LAWN EQUIPMENT 195.74
APA27000132 STORYLAND STUDIOS DBA PLAINJOE STUDIOS 2,250.00 APA27000133 TRITON TECHNOLOGY SOLUTIONS, INC 217,093.15 APA27000134 UNIFIRST CORP 1,289.76
APA27000135 VERIZON WIRELESS (#1) 3,221.63
APA27000136 VERIZON WIRELESS (#2) 3,803.42
APA27000137 Z BEST STUDIOS, INC. 2,300.06
12050 AK SECURITY ALARM LLC 155,580.51
12051 AMAZON BUSINESS 3,935.26
12052 CARDLOCK FUELS SYSTEM LLC 41.64
12053 CARDLOCK FUELS SYSTEM LLC 77.52
12054 CARDLOCK FUELS SYSTEM LLC 106.36
12055 CARDLOCK FUELS SYSTEM LLC 6,591.67
12056 CARDLOCK FUELS SYSTEM LLC 6,713.45
12057 CIVICA LAW GROUP, APC 25,888.93
12058 CM WASH EQUIPMENT 1,665.23
12059 COTTER CONSTRUCTION, INC. 7,500.00
12060 COTTER CONSTRUCTION, INC. 18,400.00
12061 ENDRESEN DEVELOPMENT, INC. 7,640.00
12062 ENDRESEN DEVELOPMENT, INC. 6,200.00
12063 ENDRESEN DEVELOPMENT, INC. 19,787.25
12064 ENDRESEN DEVELOPMENT, INC. 42,000.00
12065 ENDRESEN DEVELOPMENT, INC. 7,400.00
12066 ENDRESEN DEVELOPMENT, INC. 15,000.00
12067 ENDRESEN DEVELOPMENT, INC. 7,800.00
12068 ENDRESEN DEVELOPMENT, INC. 7,040.00
12070 ENDRESEN DEVELOPMENT, INC. 15,000.00
12071 ENGINEERING RESOURCES OF SO CA 2,140.40
12072 ENGINEERING RESOURCES OF SO CA 427.50
12073 FENNEMORE CRAIG, P.C. 13,376.66
12074 GMS ELEVATOR SERVICES, INC. 390.00
12075 INNOVATIVE DOCUMENT SOLUTIONS 1,193.26
12076 LYNN MERRILL AND ASSOCIATES, INC. 6,423.74
12077 MICHAEL BAKER INTERNATIONAL, INC. 2,733.75
12078 MICHAEL BAKER INTERNATIONAL, INC. 4,000.00
Attachment 2 2 OF 3
JULY 13, 2026
TO JULY 19, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
12079 MORTON PEST CONTROL INC 800.00
12080 MORTON PEST CONTROL INC 2,945.00
12081 MURPHY & EVERTZ LLP 845.50
12082 MURPHY & EVERTZ LLP 420.00
12083 MURPHY & EVERTZ LLP 578.50
12084 MURPHY & EVERTZ LLP 5,067.50
12085 PALMS PARK LLC 4,000.00
12086 PROSTAFF, LLC 34,825.00
12087 RENTERIA, YARABITH BUENFIL 594.00
12088 RIGHTWAY SITE SERVICES, INC. 7,735.88
12089 SECURITAS SECURITY SERVICES USA, INC. 2,983.68
12090 SOUTHERN CALIFORNIA GAS CO. 591.62
12091 STAPLES ADVANTAGE 1,509.28
12092 WEST COAST ARBORISTS, INC. 537.00
12093 WILMINGTON TRUST, NATIONAL ASSOCIATION 50,103.48
144206 CALIFORNIA JPIA 25.00
144207 CALIFORNIA JPIA 10.00
144208 CRISTIAN D. VALENCIA 112.67
144209 DE SANTIAGO, RICK 265.84
144210 DIAZ, FRANCISCO 265.84
144211 EVMWD 24,014.03
144213 HEYDAY 150.00
144214 ROBLEDO, CHRISTOPHER 355.00
DFT270026 PAYCHEX OF NEW YORK, LLC 2,827.31
DFT270027 MISSION SQUARE RETIREMENT 450.77
DFT270028 MISSION SQUARE RETIREMENT 9,182.92
DFT270029 NATIONWIDE TRUST COMPANY, FSB 2,154.59
DFT270030 TASC 11,520.02
DFT270032 RIVERSIDE COUNTY SHERIFF'S OFFICE 926.50
DFT270033 FRANCHISE TAX BOARD 85.00
DFT270034 STATE DISBURSEMENT UNIT 134.30
DFT270035 STATE DISBURSEMENT UNIT 245.53
DFT270036 INTERNAL REVENUE SERVICE 198.50
DFT270037 INTERNAL REVENUE SERVICE 127,646.67
DFT270038 FRANCHISE TAX BOARD 26,014.08
DFT270039 CALPERS 77,155.40
DFT270040 CALPERS 1,589,366.00
PR07162026 NET PAYROLL 368,889.88
GRAND TOTAL 3,467,696.54 $
Attachment 2 3 OF 3

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Shannon Buckley, Assistant City Manager
Date: August 25, 2026
Subject: CC Warrant Report Dated July 20, 2026 to July 26, 2026 Recommendation
Receive and file.

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

Attachments
Attachment 1 – City Warrant Summary
Attachment 2 – City Warrant List
JULY 20, 2026
TO JULY 26, 2026

CITY OF LAKE ELSINORE CITY WARRANT SUMMARY
FUND NO. FUND DESCRIPTION TOTAL
100 GENERAL 503,599.83 $
103 THE ANCHOR 300.00
110 GAS TAX 1,389.80
130 LIGHTING, LANDSCAPE, MAINTENANCE DIST - CITYWIDE 26,960.53 135 LIGHTING, LANDSCAPE, MAINTENANCE DIST - NO. 1 2,704.84 155 NATIONAL POLLUTANT DISCHARGE ELIMINATION SYSTEM 806.14 180 LAUNCH POINTE 6,161.12
300 INSURANCE SERVICE 254,478.00
305 INFORMATION SYSTEMS SERVICE 32,075.36
310 SUPPORT SERVICE 1,767.01
315 FLEET SERVICE 959.64
320 FACILITIES SERVICE 1,325.00
330 CFD 2015-2S MAINTENANCE SERVICES 2,555.65
331 CFD 2006-1 IA-CC SUMMERLY IMPROVEMENT 860.19
332 CFD 2006-1 IA-B SUMMERLY IMPROVEMENT 860.19
333 CFD 2015-4 TERRACINA IMPROVEMENT 860.19
334 CFD 2015-5 TRIESTE IMPROVEMENT 837.73
336 CFD 2006-1 IA-FF SUMMERLY IMPROVEMENT 837.73
337 CFD 2016-2 CANYON HILLS IMPROVEMENT 813.33
338 CFD 2006-1 IA-JJ SUMMERLY IMPROVEMENT 837.73
339 CFD 2006-1 IA-KK SUMMERLY IMPROVEMENT 860.19
340 CFD 2006-1 IA-EE SUMMERLY IMPROVEMENT 837.73
342 CFD 2007-5S RED KITE SERVICES 614.42
343 CFD 2006-2S VISCAYA SERVICES 614.42
344 CFD 2005-2S ALBERHILL RANCH SERVICES 614.42
345 CFD 2003-2 IA-D CANYON HILLS IMPROVEMENT 1,697.92
347 CFD 2006-1 IA-A SUMMERLY IMPROVEMENT 1,474.60
350 CFD 98-1 SUMMERHILL IMPROVEMENT 860.19
351 CFD 2006-1 IA-II SUMMERLY IMPROVEMENT 860.19
355 RAD 2021-1 CANYON HILLS IMPROVEMENT 2,348.16
357 CFD 2003-2 IA-A CANYON HILLS IMPROVEMENT 1,105.95
358 CFD 2007-4S MAKENNA SERVICES 614.42
359 CFD 2021-1 IA-2 TUSCANY VALLEY & CREST IMPROVEMENT 736.74 361 CFD 2022-2 LAKESHORE IMPROVEMENT 715.28
362 CFD 2006-8S RUNNING DEER ESTATES SERVICES 614.42
363 CFD 2023-1 LAKESIDE IMPROVEMENT 715.28
364 CFD 2023-2 COASTAL MISSION TRAIL IMPROVEMENT 728.52 366 CFD 2005-6 CITY CENTER TOWNHOMES IMPROVEMENT 614.42 367 CFD 2006-1S SUMMERLY SERVICES 614.42
368 CFD 2006-2 VISCAYA IMPROVEMENT 614.42
369 CFD 2004-3 IA-1 ROSETTA CANYON IMPROVEMENT 860.19
370 CFD 2006-1 IA-HH SUMMERLY IMPROVEMENT 860.19
Attachment 1 1 of 2
JULY 20, 2026
TO JULY 26, 2026

CITY OF LAKE ELSINORE CITY WARRANT SUMMARY
FUND NO. FUND DESCRIPTION TOTAL
371 CFD 2005-1 SERENITY IMPROVEMENT 860.19
372 CFD 2005-2 IA-A ALBERHILL RANCH IMPROVEMENT 860.19
373 CFD 2005-5S WASSON CANYON SERVICES 614.42
374 CFD 2005-4 LAKEVIEW VILLAS IMPROVEMENT 307.21
375 CFD 2006-4 ROSETTA HILLS IMPROVEMENT 307.21
376 CFD 2006-3 LA STRADA IMPROVEMENT 614.42
377 CFD 2006-6 TESSARA IMPROVEMENT 368.65
378 CFD 2006-8 RUNNING DEER ESTATES IMPROVEMENT 813.33
379 CFD 2022-1 ALBERHILL IMPROVEMENT 715.28
380 CFD 2015-4S TERRACINA SERVICES 1,092.46
384 CFD 2003-2 IA-B CANYON HILLS IMPROVEMENT 3,786.94
385 CFD 2004-3 IA-2 ROSETTA CANYON IMPROVEMENT 860.19
386 CFD 2007-4 MAKENNA IMPROVEMENT 813.33
387 CFD 2007-5 RED KITE IMPROVEMENT 813.33
390 CFD 2003-2 IA-C CANYON HILLS IMPROVEMENT 2,211.80
394 CFD 2005-5 WASSON CANYON IMPROVEMENT 614.42
395 CFD 2018-1 WASSON CANYON II IMPROVEMENT 580.95
396 CFD 2019-2 NICHOLS RANCH IMPROVEMENT 826.21
397 CFD 2019-1 WESTLAKE IMPROVEMENT 826.21
398 CFD 2021-1 IA-1 TUSCANY VALLEY & CREST IMPROVEMENT 736.74 500 CAPITAL IMPROVEMENT PLAN 1,432,686.68
620 COST RECOVERY TRUST DEPOSITS 1,352.50
650 CFD 2003-1S LAW,FIRE, PARAMEDIC SERVICES 860.19
651 CFD 2006-5S PARK, OPEN SPACE, STORM DRAIN SERVICES 614.42 652 CFD 2007-1S LAW,FIRE, PARAMEDIC SERVICES 614.42
653 CFD 2009-1S PARK,OPEN SPACE,STREET LIGHT SERVICES 614.42 655 CFD 2015-1S LAW, FIRE, PARAMEDIC SERVICES 977.41
GRAND TOTAL 2,316,910.02 $
Attachment 1 2 of 2
JULY 20, 2026
TO JULY 26, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
APA27000138 ACTION GAS & WELDING SUPPLY 55.11 $
APA27000139 ALBERT WEBB & ASSOCIATES 42,102.85
APA27000140 AMERICAN FORENSIC NURSES, INC. 642.00
APA27000141 AT&T 185.00
APA27000142 ATKINSON, ANDELSON, LOYA, RUUD & ROMO 19,939.63 APA27000143 AUTOZONE PARTS, INC. 239.82
APA27000144 BIO-TOX LABORATORIES 2,110.00
APA27000145 CALIFORNIA, DEPARTMENT OF JUSTICE 280.00
APA27000146 CED LAGUNA 4,675.32
APA27000147 CHARLES ABBOTT ASSOCIATES, INC. 6,878.62
APA27000148 CNTY OF RIVERSIDE TECHNICAL SVCS BUREAU-ACCTNG 117,205.25 APA27000149 COUNTY OF RIVERSIDE, EXECUTIVE OFFICE 195,768.00 APA27000150 CR&R, INC. 859.00
APA27000151 DISCOUNT HAULING & CLEANUP SERVICE 18,265.00 APA27000152 DP GLASS CO 345,808.66
APA27000153 EPD SOLUTIONS, INC. 1,352.50
APA27000154 FRONTIER CALIFORNIA - INTERNET 306.36
APA27000155 FRONTIER CALIFORNIA, INC. 105.98
APA27000156 GREAT AMERICA FINANCIAL SERVICES 1,767.01
APA27000157 HANCOCK, LORENA 1,342.50
APA27000158 IMAGEN, INC. 364.16
APA27000159 INLAND FOUNDATION ENGINEERING, INC. 2,420.00 APA27000160 INTERNATIONAL CODE COUNCIL, INC. 575.95
APA27000161 INTERSTATE STRIPING, INC. 38,058.15
APA27000162 JOLLY JUMPS 1,290.00
APA27000163 M & M AIR CONDITIONING INC 300.00
APA27000164 O'REILLY AUTO STORES INC/FIRST CALL 305.03
APA27000165 PACIFIC PRODUCTS & SERVICES LLC 61,298.96
APA27000166 PECHANGA BAND OF INDIANS 2,945.20
APA27000167 PVP COMMUNICATIONS, INC. 2,215.24
APA27000168 RIVERSIDE COUNTY TRANSPORTATION COMMISSION 270,580.84 APA27000169 SC FIRE SUPPRESSION, INC 83,318.00
APA27000170 SOUTHERN CALIFORNIA ASSOCIATION OF GOVERNMENTS 10,734.00 APA27000171 SOUTHERN CALIFORNIA EDISON CO. 463.64
APA27000172 STAUFFER LAWN EQUIPMENT 275.34
APA27000173 STK ARCHITECTURE, INC. 6,289.25
APA27000174 SUNBELT RENTALS, INC. 713.00
APA27000175 T-MOBILE USA, INC. 330.00
APA27000176 TRITON TECHNOLOGY SOLUTIONS, INC 89,190.00
APA27000177 UNIFIRST CORP 619.39
APA27000178 VULCAN MATERIALS COMPANY 564.30
Attachment 2 1 OF 2
JULY 20, 2026
TO JULY 26, 2026

CITY OF LAKE ELSINORE CITY WARRANT LIST
WARRANT NO. VENDOR NAME AMOUNT
APA27000179 WILLSCOT MOBILE MINI 2,194.22
12094 AK SECURITY ALARM LLC 57,324.50
12095 AMAZON BUSINESS 1,913.52
12096 BMW MOTORCYCLES OF RIVERSIDE 419.19
12097 CHEN RYAN ASSOCIATES, INC. 5,318.13
12098 CM WASH EQUIPMENT 289.79
12099 COMMERCIAL DOOR COMPANY, INC. 6,340.00
12100 COTTER CONSTRUCTION, INC. 24,900.00
12101 DELONE, MARIA JAZMINE 1,676.25
12102 EPROVAL 7,500.00
12103 HDR ENGINEERING, INC. 284,715.55
12104 HEFINGTON MARTIAL ARTS 1,068.75
12105 HI-WAY SAFETY, INC. 22,500.55
12106 LAKE ELSINORE TIRE & AUTO, INC. 125.00
12107 MICHAEL BAKER INTERNATIONAL, INC. 2,612.50
12108 PRINCIPAL INTEREST 16,992.00
12110 PURSUIT ELECTRIC, INC. 69,600.00
12111 SEARLE CREATIVE GROUP LLC 1,500.00
12112 SEARLE CREATIVE GROUP LLC 510.00
12113 SIMPSON, JASON 129.42
12114 SPICER CONSULTING GROUP 56,173.92
12118 TC SPORTS MANAGEMENT, LLC 36,500.33
12119 TC SPORTS MANAGEMENT, LLC 1,000.00
12120 WEST COAST SERVICES 1,325.00
12121 YUNEX, LLC 9,441.50
144215 PRINCIPAL INTEREST 28,704.00
144216 CALIFORNIA JPIA 254,478.00
144217 EVMWD 29,333.00
144218 EVMWD 58,681.10
144221 OLIVAS, OSCAR 592.11
DFT270031 PAYCHEX OF NEW YORK, LLC 203.98
DFT270057 LEGAL SHIELD 108.65
GRAND TOTAL 2,316,910.02 $
Attachment 2 2 OF 2

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Shannon Buckley, Assistant City Manager
Date: August 25, 2026
Subject: CC Investment Report for July 2026
Recommendation
Receive and file the Investment Report for July 2026.

Discussion
The Investment Report lists all funds invested for the City as the date shown on the report. The Review of the Investment Performance for the quarter ending June 30, 2026, is included.

Fiscal Impact
No fiscal impact.

Attachments
Attachment 1 – Investment Report July 2026

CITY OF LAKE ELSINORE

INVESTMENT REPORT

BANK DEPOSITS OUTSTANDING BOOK

CASH ACCOUNTS BALANCE IN TRANSIT PAYMENTS BALANCE
Bank Accounts:

General Checking Account $ 12,563,288 $ 64,242 $ (500,074) $ 12,127,456 Cash On Hand:

Cashier Drawers #1 & #2 - - - 300
City of Lake Elsinore Petty Cash Fund - - - 2,000
Total Cash Accounts 12,563,288 64,242 (500,074) 12,129,756

INVESTMENTS
Local Agency Investment Funds 69,142,558 - - 69,142,558 CAMP Investments:

CAMP Pool Account 679,582 - - 679,582.02
U.S. Treasury Bond / Note 26,758,925 - - 26,758,924.81
Municipal Bond / Note 200,000 - - 200,000.00
Federal Agency Commercial Mortgage-Backed Security 7,567,296 - - 7,567,296.20 Federal Agency Bond / Note - - - -
Corporate Note 15,081,934 - - 15,081,933.57
Certificate of Deposit - - - -
Bank Note 525,525 - - 525,525.00
Asset-Backed Security 6,773,368 - - 6,773,367.69
Sub-total Investments 126,729,188 - - 126,729,188
Market Value Adjustment:

Unrealized Gain/(Loss) at 07/31/2026 (135,787) - - (135,787) Total Investments 126,593,400 - - 126,593,400
Total Pooled Cash and Investments $ 139,156,689 $ 64,242 $ (500,074) $ 138,723,157 TOTAL POOLED CASH AND INVESTMENTS $ 138,723,157
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 09, 2026. 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 August 7, 2026
City Manager Date

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

INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS
AS OF JULY 31, 2026

FUND NO FUND NAME AMOUNT
100 General $ 9,498,024
102 Measure Z 22,188,494
106 Affordable Housing In Lieu 1,765,469
107 Developer Agreement Revenue 323,575
109 Road Maintenance and Rehabilitation (SB1) 2,399,370 110 State Gas Tax 1,561,024
111 TUMF C.I.P. 121,781
112 Measure A 1,969,289
114 SB1186 CASP Education Program 97,591
116 City Hall-Public Works DIF 102,466
117 Community Center DIF 722,067
118 Lake Side Facility DIF 414,074
119 Animal Shelter DIF 80,816
135 Lighting & Landscape Maintenance - Dist. No. 1 2,713,832 140 Geothermal 13,384
150 C.D.B.G. 266,663
160 PEG Grant 4,886
202 La Strada RBBD 27,298
203 E.L.S.P. - S.T.I.F. 3,849,426
205 Traffic Impact Fee 768,722
211 Storm Drain C.I.P. 2,277,771
221 Quimby Park C.I.P. 116,031
231 Library C.I.P. 876,661
232 City Fire Protection 1,645,010
300 Insurance Service 25,138
305 Information Systems Service 2,727,534
310 Support Service 41,452
315 Fleet Service 963,456
320 Facilities Service 3,024,330
331 CFD 2006-1CC Summerly Improvement Area CC 158,846
332 CFD 2006-1 Improvement Area B, Summerly 123,765
333 CFD 2015-4 Terracina 1,127,017
334 CFD 2015-5 Trieste - Far West Industries 120,589
335 CFD 2003-2E Canyon Hills Improvement Area E 144,933 336 CFD 2006-1FF Summerly Improvement Area FF 155,343
338 CFD 2006-1 IA-JJ Summerly Improvement Area 259,988
339 CFD 2006-1 IA-KK Summerly Improvement Area 198,055
340 CFD 2006-1 IA-EE Summerly Improvement Area 208,474
345 CFD 2003-2 Improvement Area D, Canyon Hills 1,655,660 346 CFD 2014-1 Southshore 66,231

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 JULY 31, 2026

FUND NO FUND NAME AMOUNT

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

POOLED CASH AND INVESTMENTS BY FUND
AS OF JULY 31, 2026
347 CFD 2006-1 Improvement Area A, Summerly 187,632
350 CFD 98-1 Summerhill 1,010,553
351 CFD 2006-1 IA-II Summerly Improvement 325,831
354 CFD 90-2 Tuscany Hills 530
355 RAD 2021-1 Canyon Hills Improvement 1,180,863
357 CFD 2003-2 Canyon Hills Improvement Area 676,456
359 CFD 2021-1 IA-2 Tuscany Valley & Crest Improvement 8,245 361 CFD 2022-2 Lakeshore Improvement 6,980
364 CFD 2023-2 Coastal Mission Trail Improvement 6,728
366 CFD 2005-6 City Center Townhomes 231,982
368 CFD 2006-2 Viscaya 353,589
369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 1,137,870 370 CFD 2006-1 IA-HH Summerly Improvement 252,439
371 CFD 2005-1 Serenity 426,180
372 CFD 2005-2 Alberhill Ranch Improvement Area 1,121,431 374 CFD 2005-4 Lakeview Villas 5,895
375 CFD 2006-4 Clurman 211,954
376 CFD 2006-3 La Strada 4,289
377 CFD 2006-6 Tessara 161,904
378 CFD 2006-8 Running Deer Estates 154,649
379 CFD 2022-1 Alberhill 442,596
384 CFD 2003-2 Area B Canyon Hills Improvement Area 1,393,581 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 1,277,278 386 CFD 2007-4 Mekenna Court 139,053
387 CFD 2007-5 Red Kite 98,460
388 CFD 2007-6 Holiday Inn Express 5,890
390 CFD 2003-2 Area C Canyon Hills Improvement Area 509,882 392 CFD 95-1 City Center 1,442
394 CFD 2005-5 (2012A) Wasson Canyon 260,102
395 CFD 2018-1 Wasson Canyon II Improvement Area 4,355
396 CFD 2018-2 Nichols Ranch Improvement Area 344,957
397 CFD 2018-3 Village at Lakeshore 283,839
500 Capital Improvement Plan 4,984,914
510 Successor To RDA Area I, II, & III 3,153,429
540 Successor To RDA Diamond Stadium 2,929,939
603 Endowment Trust - Carl Graves 73,020
604 Endowment Trust - Korn Memorial 38,461
605 Public Improvement Trust 3,322,909
606 Mobile Source Air Polution Reduction 320,435
608 Trust Deposit & Pre Paid Expense 1,813,082

FUND NO FUND NAME AMOUNT

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

POOLED CASH AND INVESTMENTS BY FUND
AS OF JULY 31, 2026
617 Successor Agency Housing 39,450,809
620 Cost Recovery System 5,246,934
631 Lake Destratification Equipment Replacement 357,255 Total Pooled Cash & Investments $ 138,723,157

MAXIMUM DIVERSIFICATION CURRENT

TYPES OF SECURITIES PERCENTAGE PERCENTAGE BALANCE
CAMP - Pooled Sweep Account Unlimited 0.54% $ 679,582
U.S. Treasury Bond / Note Unlimited 21.12% $ 26,758,925 Supra-National Agency Bond / Note 30% 0.00% $ -
Municipal Bond / Note Unlimited 0.16% $ 200,000
Federal Agency Collaterized Mortgage Obligation 40% 5.97% $ 7,567,296 Federal Agency Bond / Note Unlimited 0.00% (1) $ -
Banker's Acceptance 40.00% 0.00% $ -
Corporate Note (Includes Bank Note) 30% 12.32% $ 15,607,459 Commercial Paper 25% 0.00% $ -
Negotiable Certificates of Deposit 30% 0.00% $ -
Asset-Backed Security / Collaterized Mortgage 20% 5.34% $ 6,773,368 Repurchase Agreements Unlimited 0 $ -
Reverse Repurchase Agreements 10.00% 0.00% $ -
LAIF (Local Agency Investment Funds) $150 Million 54.56% (2) $ 69,142,558 Placement Service Deposits (PDS) 30% 0.00% $ -
TOTAL 100.00% $ 126,729,188
Note:
(1) No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies. (2) Investment in LAIF may not exceed $75 million in each agency.

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

SUMMARY OF POLICY LIMITATIONS
FOR THE MONTH ENDING JULY 31, 2026
Local Agency Investment Fund
July 3.84
June 3.816
May 3.810
April 3.811
March 3.826
February 3.871
LAIF Apportionment Rate(2): 3.92
LAIF Earnings Ratio(2): 0.00010743238142967
LAIF Administrative Cost(1)*: 0.22
PMIA Average Life(1): 269
LAIF Fair Value Factor(1): 0.998872382
PMIA Daily(1): 3.83
PMIA Quarter to Date(1): 3.81
Treasuries

57.20%
Agencies

21.76%
Certificates of
Deposit/Bank Notes

10.82%
Time
Deposits

2.78%
Commercial
Paper

6.72%
Corporate
Bonds

0.60%
Loans

0.12%
Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) .
*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
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
as of 08/12/26
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 06/30/26
Chart does not include $749,000.00 in mortgages, which equates to 0.0004%. Percentages may not total 100% due to rounding.

Pooled Money Investment Account
Monthly Portfolio Composition (1)
06/30/26
$193.1 billion
Yield Purchase Date Maturity Rate

3.840% Daily 24-Hour
Investment Beginning Balance Net Increase/(Decrease) Ending Balance Total Investments Held with
Local Agency Investment Fund: $ 80,489,926 $ (11,347,368) $ 69,142,558 Note:

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

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

LOCAL AGENCY INVESTMENT FUND

TRANSACTION SUMMARY
FOR THE MONTH ENDING JULY 31, 2026
CAMP
Investment Portfolio

CITY OF LAKE ELSINORE

ACCOUNT STATEMENT
For the Month Ending
July 31, 2026
Customer Service
PO Box 11813
Harrisburg, PA 17108-1813
Contents
Cover/Disclosures
Summary Statement
Individual Accounts

CITY OF LAKE ELSINORE
Accounts included in Statement

LAKE ELSINORE - CITY FUNDS
Online Access www.camponline.com Customer Service 1-800-729-7665 Important Messages
CAMP will be closed on 09/07/2026 for Labor Day.

For the Month Ending July 31, 2026
Account Statement
Important Disclosures
Important Disclosures
365 and dividing the result by 7. The yields quoted should not be considered a representation of the yield of the fund in the future, since the yield is not fixed.

Average maturity represents the average maturity of all securities and investments of a portfolio, determined by multiplying the par or principal value of each security or investment by its maturity (days or years), summing the products, and dividing the sum by the total principal value of the portfolio. The stated maturity date of mortgage backed or callable securities are used in this statement. However the actual maturity of these securities could vary depending on the level or prepayments on the underlying mortgages or whether a callable security has or is still able to be called.

Monthly distribution yield represents the net change in the value of one share (normally $1.00 per share) resulting from all dividends declared during the month by a fund expressed as a percentage of the value of one share at the beginning of the month. This resulting net change is then annualized by multiplying it by 365 and dividing it by the number of calendar days in the month.

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.

Managed Account A portfolio of investments managed discretely by PFMAM according to the client’s specific investment policy and requirements. The investments are directly owned by the client and held by the client’s custodian.

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

Please review the detail pages of this statement carefully. If you think your statement is wrong, missing account information, or if you need more information about a transaction, please contact PFMAM within 60 days of receipt. If you have other concerns or questions regarding your account, or to request an updated copy of PFMAM's current disclosure statement, please contact a member of your client management team at PFMAM Service Operations at the address below.

PFM Asset Management
Attn: Service Operations
213 Market Street
Harrisburg, PA 17101

NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE
This statement is for general information purposes only and is not intended to provide specific advice or recommendations. PFM Asset Management ("PFMAM") is a division of U.S. Bancorp Asset Management, Inc. ("USBAM"), a SEC-registered investment adviser. USBAM is direct subsidiary of U.S. Bank National Association ("U.S. Bank") and an indirect subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. PFMAM maintains a written disclosure statement of our background and business experience. If you would like to receive a copy of our current disclosure statement, please contact Service Operations at the address below.

Proxy Voting PFMAM does not normally receive proxies to vote on behalf of its clients.

However, it does on occasion receive consent requests. In the event a consent request is received the portfolio manager contacts the client and then proceeds according to their instructions. PFMAM’s Proxy Voting Policy is available upon request by contacting Service Operations at the address below.

Questions About an Account PFMAM’s monthly statement is intended to detail our investment advisory activity as well as the activity of any accounts held by clients in pools that are managed by PFMAM. The custodian bank maintains the control of assets and executes (i.e., settles) all investment transactions. The custodian statement is the official record of security and cash holdings and transactions. PFMAM recognizes that clients may use these reports to facilitate record keeping and that the custodian bank statement and the PFMAM statement should be reconciled and differences resolved.

Many custodians use a settlement date basis which may result in the need to reconcile due to a timing difference. If you do not receive a report from the custodian on at least a quarterly basis, please notify your relationship manager at your custodian and PFMAM.

Account Control PFMAM does not have the authority to withdraw funds from or deposit funds to the custodian outside the scope of services provided by PFMAM. Our clients retain responsibility for their internal accounting policies; implementing and enforcing internal controls and generating ledger entries or otherwise recording transactions.

Market Value Generally, PFMAM’s market prices are derived from closing bid prices as of the last business day of the month as supplied by ICE Data Services. There may be differences in the values shown for investments due to accrued but uncollected income and the use of differing valuation sources and methods. Non-negotiable FDIC-insured bank certificates of deposit are priced at par. Although PFMAM believes the prices to be reliable, the values of the securities may not represent the prices at which the securities could have been bought or sold. Explanation of the valuation methods for a registered investment company or local government investment program is contained in the appropriate fund offering documentation or information statement.

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 straightline basis. Such discount or premium with respect to longer term securities is amortized using the constant yield basis.

Tax Reporting Cost data and realized gains / losses are provided for informational purposes only. Please review for accuracy and consult your tax advisor to determine the tax consequences of your security transactions. PFMAM does not report such information to the IRS or other taxing authorities and is not responsible for the accuracy of such information that may be required to be reported to federal, state or other taxing authorities.

Financial Situation In order to better serve you, PFMAM should be promptly notified of any material change in your investment objective or financial situation.

Callable Securities Securities subject to redemption prior to maturity may be redeemed in whole or in part before maturity, which could affect the yield represented.

Portfolio The securities in this portfolio, including shares of mutual funds, are not guaranteed or otherwise protected by PFMAM, the FDIC (except for certain non-negotiable certificates of deposit) or any government agency. Investment in securities involves risks, including the possible loss of the amount invested. Actual settlement values, accrued interest, and amortized cost amounts may vary for securities subject to an adjustable interest rate or subject to principal paydowns. Any changes to the values shown may be reflected within the next monthly statement’s beginning values.

Rating Information provided for ratings is based upon a good faith inquiry of selected sources, but its accuracy and completeness cannot be guaranteed.

Shares of some local government investment programs and TERM funds are distributed by representatives of USBAM's affiliate, U.S. Bancorp Investments, Inc. which is registered with the SEC as a broker/dealer and is a member of the Financial Industry Regulatory Authority (“FINRA”) and the Municipal Securities Rulemaking Board (“MSRB”). You may reach the FINRA by calling the FINRA Hotline at 1-800-289-9999 or at the FINRA website address
https://www.finra.org/investors/investor-contacts. A brochure describing the FINRA Regulation Public Disclosure Program is also available from FINRA upon request.

Key Terms and Definitions
Dividends on local government investment program funds consist of interest earned, plus any discount ratably amortized to the date of maturity, plus all realized gains and losses on the sale of securities prior to maturity, less ratable amortization of any premium and all accrued expenses to the fund. Dividends are accrued daily and may be paid either monthly or quarterly. The monthly earnings on this statement represent the estimated dividend accrued for the month for any program that distributes earnings on a quarterly basis. There is no guarantee that the estimated amount will be paid on the actual distribution date.

Current Yield is the net change, exclusive of capital changes and income other than investment income, in the value of a hypothetical fund account with a balance of one share over the seven-day base period including the statement date, expressed as a percentage of the value of one share (normally $1.00 per share) at the beginning of the seven-day period. This resulting net change in account value is then annualized by multiplying it by
Account Statement - Transaction Summary For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
11,542.53
1,234,044.79
(566,005.30)

0.00 $679,582.02
CAMP Pool
Unsettled Trades 0.00
Cash Dividends and Income 294.49
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
57,217,104.72
554,871.02
(923,514.63)
(239,505.70)
$56,608,955.41
CAMP Managed Account
Unsettled Trades 0.00
Cash Dividends and Income 317,105.59
July 31, 2026 June 30, 2026
Asset Summary
CAMP Pool 679,582.02 11,542.53
CAMP Managed Account 56,608,955.41 57,217,104.72
Total $57,288,537.43 $57,228,647.25
Asset Allocation

1.19%
CAMP Pool

98.81%
CAMP Managed
Account
PFM Asset Management, a division of Page 1
U.S. Bancorp Asset Management, Inc.

Managed Account Summary Statement For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dividend
Closing Market Value
Redemptions
Purchases
Opening Market Value
Closing Market Value
Change in Current Value
Unsettled Trades
Principal Acquisitions
Principal Dispositions
Maturities/Calls
Opening Market Value
Closing Market Value
Opening Market Value
Account Total
Total Cash Basis Earnings
Plus Net Realized Gains/Losses
Less Purchased Interest Related to Interest/Coupons
Interest/Dividends/Coupons Received
Earnings Reconciliation (Cash Basis) - Managed Account
Dividends
Less Beginning Accrued Interest
Less Beginning Amortized Value of Securities
Less Cost of New Purchases
Plus Coupons/Dividends Received
Plus Proceeds of Maturities/Calls/Principal Payments
Plus Proceeds from Sales
Ending Accrued Interest
Ending Amortized Value of Securities
Earnings Reconciliation (Accrual Basis)
Reconciling Transactions
Net Cash Contribution
Security Purchases
Principal Payments
Coupon/Interest/Dividend Income
Sale Proceeds
Maturities/Calls
Cash Transactions Summary- Managed Account
$11,542.53
1,234,044.79
(566,005.30)
$679,582.02
294.49
$57,217,104.72
(461,113.26)
(462,401.37)
554,871.02

0.00 (239,505.70)
$56,608,955.41
$57,228,647.25
$57,288,537.43
303,544.62

0.00 13,560.97
$317,105.59

0.00 463,072.57
302,873.42
461,113.26
(554,871.02)
(672,188.23)

0.00 Managed Account Total
57,145,629.44 57,825,211.46
357,896.19
463,072.57
461,113.26
302,873.42
(554,871.02)
(57,508,095.92)
(468,838.87)

0.00 357,896.19
1,029,077.87
461,113.26
302,873.42
(1,788,915.81)
(57,519,638.45)
(468,838.87)
294.49
Total Accrual Basis Earnings $198,779.07 $199,073.56
Transaction Summary - Money Market Transaction Summary - Managed Account _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance
Closing Cash Balance $0.00
PFM Asset Management, a division of Page 2
U.S. Bancorp Asset Management, Inc.

Portfolio Summary and Statistics For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Account Summary
Description Par Value Market Value Percent
U.S. Treasury Bond / Note 26,875,000.00 26,329,110.79 45.95 Municipal Bond / Note 200,000.00 200,736.80 0.35
Federal Agency Commercial
Mortgage-Backed Security
7,680,523.20 7,662,353.71 13.38
Corporate Note 15,241,000.00 15,129,251.30 26.41
Bank Note 525,000.00 526,500.98 0.92
Asset-Backed Security 6,770,565.80 6,761,001.83 11.80
Managed Account Sub-Total 57,292,089.00 56,608,955.41 98.81% Accrued Interest 357,896.19
Total Portfolio 57,292,089.00 56,966,851.60
CAMP Pool 679,582.02 679,582.02 1.19
Total Investments 57,971,671.02 57,646,433.62 100.00%
Unsettled Trades 0.00 0.00
Sector Allocation

11.80%
ABS

0.92%
Bank Note

25.90%
Corporate Note

13.38%
Federal Agency
Commercial
Mortgage-Backed
Security

1.19%
Joint Powers
Authority

0.35%
Muni Bond / Note

0.51%
Priv Placement
Bond

45.95%
US TSY Bond / Note
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years

3.74%

6.29%

7.73%

33.60%

25.65%

22.99%

0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 1095

4.19%

4.42%
PFM Asset Management, a division of Page 3
U.S. Bancorp Asset Management, Inc.

Managed Account Issuer Summary For the Month Ending July 31, 2026

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

5.87%
A

7.36%
A+

2.79%
A2.46%
AA

60.67%
AA+

4.18%
AA9.56%
AAA

1.19%
AAAm

2.38%
BBB+

3.54%
NR
Issuer Summary
Issuer of Holdings Percent
Market Value
Adobe Inc 377,233.87 0.66
Air Products and Chemicals Inc 339,717.80 0.59
Amazon.com Inc 557,038.15 0.97
American Express Co 1,206,226.43 2.11
Analog Devices Inc 395,956.00 0.69
Apple Inc 763,646.25 1.33
BA Credit Card Trust 940,719.30 1.64
Bank of America Corp 678,655.96 1.18
Bank of New York Mellon Corp 470,208.68 0.82
Bayerische Motoren Werke AG 174,868.23 0.31
Berkshire Hathaway Inc 469,847.20 0.82
BlackRock Inc 778,308.48 1.36
Bristol-Myers Squibb Co 209,464.13 0.37
CAMP Pool 679,582.02 1.19
Capital One Financial Corp 554,302.37 0.97
Caterpillar Inc 222,669.00 0.39
Charles Schwab Corp 298,035.60 0.52
Cisco Systems Inc 422,707.32 0.74
Citigroup Inc 1,317,233.70 2.30
Deere & Co 378,756.00 0.66
Federal Home Loan Mortgage Corp 6,774,693.93 11.82
Federal National Mortgage Association 887,659.78 1.55
Fifth Third Auto Trust 98,321.94 0.17
Ford Credit Auto Owner Trust 284,002.50 0.50
GM Financial Consumer Automobile Receiv 89,948.70 0.16
Goldman Sachs Group Inc 568,811.85 0.99
Harley-Davidson Inc 2,102.07 0.00
Home Depot Inc 376,836.38 0.66
Honda Auto Receivables Owner Trust 357,627.57 0.62
Honda Motor Co Ltd 394,230.80 0.69
Hyundai Auto Receivables Trust 162,636.21 0.28
JPMorgan Chase & Co 844,596.89 1.47
PFM Asset Management, a division of Page 4
U.S. Bancorp Asset Management, Inc.

Managed Account Issuer Summary For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Issuer of Holdings Percent
Market Value
Lockheed Martin Corp 59,970.24 0.10
Mars Inc 114,608.31 0.20
Mercedes-Benz Auto Receivables Trust 945,581.20 1.65
Microsoft Corp 746,517.75 1.30
Morgan Stanley 526,500.98 0.92
National Australia Bank Ltd 498,391.50 0.87
National Rural Utilities Cooperative Fi 344,104.60 0.60 Northern Trust Corp 560,791.17 0.98
Novartis AG 496,617.60 0.87
NVIDIA Corp 381,687.15 0.67
PACCAR Inc 398,696.80 0.70
Porsche Innovative Lease Owner 100,236.80 0.17
Shell PLC 561,128.70 0.98
State of California 200,736.80 0.35
State Street Corp 200,277.60 0.35
Target Corp 39,616.68 0.07
Texas Instruments Inc 85,155.89 0.15
TotalEnergies SE 561,563.98 0.98
Toyota Auto Receivables Owner Trust 382,935.15 0.67
Toyota Motor Corp 376,260.75 0.66
United States Treasury 26,329,110.79 45.95
Verizon Master Trust 415,564.40 0.73
Wells Fargo & Co 401,493.20 0.70
WF Card Issuance Trust 484,344.28 0.85
Total $57,288,537.43 100.00%
PFM Asset Management, a division of Page 5
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending July 31, 2026

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 600,000.00 AA+ Aa1 07/01/25 07/03/25 589,054.69 3.75 1,695.65 591,857.49 582,328.20

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 900,000.00 AA+ Aa1 04/01/25 04/04/25 878,414.06 3.87 2,543.48 884,799.35 873,492.30

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 900,000.00 AA+ Aa1 06/02/25 06/05/25 875,566.41 3.98 2,543.48 882,117.65 873,492.30

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 925,000.00 AA+ Aa1 08/01/25 08/05/25 902,236.33 3.94 2,614.13 907,684.78 897,755.98

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 1,200,000.00 AA+ Aa1 03/03/25 03/06/25 1,161,562.50 4.06 3,391.30 1,173,357.31 1,164,656.40

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 1,500,000.00 AA+ Aa1 05/01/25 05/06/25 1,476,796.88 3.65 4,239.13 1,483,360.03 1,455,820.50

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 3,900,000.00 AA+ Aa1 09/02/25 09/05/25 3,841,652.34 3.67 11,021.74 3,854,763.08 3,785,133.30

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 300,000.00 AA+ Aa1 11/04/25 11/07/25 306,820.31 3.66 34.65 305,713.69 298,793.10

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 900,000.00 AA+ Aa1 01/02/26 01/07/26 920,285.16 3.65 103.94 917,629.98 896,379.30

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 975,000.00 AA+ Aa1 10/01/25 10/06/25 997,242.19 3.67 112.60 993,283.95 971,077.58

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 1,450,000.00 AA+ Aa1 02/02/26 02/05/26 1,478,320.31 3.72 167.46 1,475,070.37 1,444,166.65

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 1,725,000.00 AA+ Aa1 03/13/26 03/17/26 1,752,290.04 3.81 199.22 1,749,808.10 1,718,060.33

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 4,150,000.00 AA+ Aa1 03/02/26 03/06/26 4,253,101.56 3.56 479.28 4,242,984.94 4,133,304.55

US TREASURY N/B
DTD 09/02/2025 3.625% 08/31/2030
91282CNX5 650,000.00 AA+ Aa1 06/29/26 06/30/26 637,152.34 4.15 9,860.39 637,398.37 631,211.10 PFM Asset Management, a division of Page 6
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending July 31, 2026

US TREASURY N/B
DTD 09/02/2025 3.625% 08/31/2030
91282CNX5 1,800,000.00 AA+ Aa1 06/01/26 06/04/26 1,759,640.63 4.21 27,305.71 1,761,012.41 1,747,969.20

US TREASURY N/B
DTD 09/02/2025 3.625% 08/31/2030
91282CNX5 2,000,000.00 AA+ Aa1 04/01/26 04/07/26 1,974,843.75 3.94 30,339.67 1,976,508.50 1,942,188.00

US TREASURY N/B
DTD 09/02/2025 3.625% 08/31/2030
91282CNX5 3,000,000.00 AA+ Aa1 05/01/26 05/06/26 2,953,945.31 4.01 45,509.51 2,956,273.46 2,913,282.00 Security Type Sub-Total 26,875,000.00 26,758,924.81 3.81 142,161.34 26,793,623.46 26,329,110.79 Municipal Bond / Note
CA ST
DTD 03/15/2023 4.846% 03/01/2027
13063D3N6 200,000.00 AA- Aa2 03/09/23 03/15/23 200,000.00 4.85 4,038.33 200,000.00 200,736.80 Security Type Sub-Total 200,000.00 200,000.00 4.85 4,038.33 200,000.00 200,736.80 Federal Agency Commercial Mortgage-Backed Security
FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
3137BSP72 202,252.62 AA+ Aa1 04/06/23 04/12/23 193,735.89 3.98 447.15 202,084.11 201,728.18 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
3137BTUM1 353,418.86 AA+ Aa1 05/19/23 05/24/23 342,540.19 4.29 985.74 352,435.38 351,990.69 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
3137BXQY1 550,000.00 AA+ Aa1 08/16/23 08/18/23 518,804.69 4.94 1,477.67 544,371.86 546,549.30 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 550,000.00 AA+ Aa1 06/08/23 06/13/23 527,033.20 4.42 1,486.38 545,644.23 545,604.40 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
3137HBC69 256,992.54 AA+ Aa1 12/06/23 12/14/23 256,990.48 4.86 1,040.39 256,992.09 257,707.49 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 272,838.57 AA+ Aa1 07/19/23 07/27/23 272,831.76 4.78 1,086.12 272,835.93 273,407.71 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 548,900.02 AA+ Aa1 07/13/23 07/20/23 554,382.43 4.59 2,204.29 551,012.68 550,547.27 PFM Asset Management, a division of Page 7
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Federal Agency Commercial Mortgage-Backed Security
FNA 2023-M6 A2
DTD 07/01/2023 4.172% 07/01/2028
3136BQDE6 491,120.60 AA+ Aa1 07/18/23 07/31/23 482,794.57 4.58 1,707.45 487,806.89 487,153.33 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 500,000.00 AA+ Aa1 10/11/23 10/19/23 489,032.00 5.25 1,975.00 494,961.46 500,512.00 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 800,000.00 AA+ Aa1 09/07/23 09/14/23 788,165.60 4.99 3,100.00 794,675.74 800,022.40 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 375,000.00 AA+ Aa1 10/25/23 10/31/23 363,043.88 5.60 1,515.63 369,239.91 376,257.00 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 500,000.00 AA+ Aa1 09/20/23 09/28/23 494,023.50 5.07 2,000.00 497,186.45 501,443.50 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 180,000.00 AA+ Aa1 11/14/23 11/21/23 179,479.62 5.14 760.35 179,746.93 181,385.10 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 275,000.00 AA+ Aa1 11/28/23 12/07/23 274,209.93 4.93 1,113.75 274,613.61 275,959.75 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 290,000.00 AA+ Aa1 02/01/24 02/08/24 292,899.71 4.34 1,104.90 291,508.29 289,517.44 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
3137HDV56 440,000.00 AA+ Aa1 07/16/24 07/25/24 442,702.04 4.58 1,730.67 441,677.18 440,589.16 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
3137HDXL9 495,000.00 AA+ Aa1 08/07/24 08/15/24 499,630.23 4.33 1,873.99 497,917.99 493,179.88 FHMS K539 A2
DTD 04/01/2025 4.410% 01/01/2030
3137HKXJ8 190,000.00 AA+ Aa1 04/15/25 04/24/25 189,993.35 4.41 698.25 189,995.08 188,292.66 FNA 2026-M11 2A2
DTD 05/01/2026 4.250% 05/01/2031
3136G5V64 410,000.00 AA+ Aa1 06/26/26 06/29/26 405,003.13 4.53 1,452.08 405,009.27 400,506.45 Security Type Sub-Total 7,680,523.20 7,567,296.20 4.74 27,759.81 7,649,715.08 7,662,353.71 Corporate Note

BMW US CAPITAL LLC (CALLABLE)
DTD 08/12/2021 1.250% 08/12/2026
05565EBW4 175,000.00 A A2 08/12/21 08/16/21 174,947.50 1.26 1,026.91 174,999.68 174,868.23 PFM Asset Management, a division of Page 8
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending July 31, 2026

CATERPILLAR FINL SERVICE
DTD 01/10/2022 1.700% 01/08/2027
14913R2U0 225,000.00 A A1 01/11/22 01/13/22 223,863.75 1.81 244.38 224,900.62 222,669.00

TARGET CORP (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 40,000.00 A A2 01/19/22 01/24/22 39,932.00 1.99 34.67 39,993.77 39,616.68

BANK OF NY MELLON CORP (CALLABLE)
DTD 01/26/2022 2.050% 01/26/2027
06406RBA4 475,000.00 A Aa3 01/26/22 01/28/22 473,945.50 2.10 135.24 474,897.36 470,208.68

MICROSOFT CORP (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
594918BY9 750,000.00 AAA Aaa 03/14/23 03/17/23 721,942.50 4.36 12,031.25 746,289.75 746,517.75

AMERICAN EXPRESS CO (CALLABLE)
DTD 03/04/2022 2.550% 03/04/2027
025816CS6 300,000.00 A- A2 01/13/23 01/18/23 277,203.00 4.59 3,123.75 296,732.33 297,026.40

BERKSHIRE HATHAWAY FIN (CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027
084664CZ2 475,000.00 AA Aa2 03/15/22 03/17/22 466,089.00 2.70 4,127.22 473,889.84 469,847.20

CHARLES SCHWAB CORP (CALLABLE)
DTD 09/24/2021 3.300% 04/01/2027
808513BW4 300,000.00 A- A2 02/17/23 02/22/23 284,925.00 4.66 3,300.00 297,553.75 298,035.60

NATIONAL AUSTRALIA BK/NY
DTD 06/09/2022 3.905% 06/09/2027
63254ABE7 500,000.00 AA- Aa2 01/13/23 01/18/23 488,325.00 4.50 2,820.28 497,725.55 498,391.50

APPLE INC (CALLABLE)
DTD 09/12/2017 2.900% 09/12/2027
037833DB3 775,000.00 AA+ Aaa 01/19/23 01/23/23 741,062.75 3.94 8,677.85 766,846.11 763,646.25

TOYOTA MOTOR CREDIT CORP
DTD 01/12/2023 4.625% 01/12/2028
89236TKQ7 375,000.00 A+ A1 02/08/23 02/10/23 376,282.50 4.55 915.36 375,377.08 376,260.75

NATIONAL RURAL UTIL COOP (CALLABLE)
DTD 02/07/2018 3.400% 02/07/2028
637432NP6 350,000.00 A- A1 02/17/23 02/22/23 329,189.00 4.76 5,751.67 343,634.28 344,104.60

TEXAS INSTRUMENTS INC (CALLABLE)
DTD 11/18/2022 4.600% 02/15/2028
882508BV5 85,000.00 A+ Aa3 05/11/23 05/18/23 87,043.40 4.04 1,802.94 85,638.49 85,155.89

BRISTOL-MYERS SQUIBB CO (CALLABLE)
DTD 07/15/2020 3.900% 02/20/2028
110122DE5 211,000.00 A A2 03/09/23 03/13/23 201,583.07 4.93 3,680.19 208,037.67 209,464.13

LOCKHEED MARTIN CORP (CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
539830BZ1 60,000.00 A- A2 05/23/23 05/25/23 59,892.00 4.49 563.67 59,961.14 59,970.24 PFM Asset Management, a division of Page 9
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending July 31, 2026

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 375,000.00 A A1 07/21/23 07/25/23 377,865.00 4.78 876.56 376,125.82 378,756.00

CITIBANK NA (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
17325FBB3 750,000.00 A+ Aa3 10/02/23 10/04/23 746,280.00 5.92 14,749.29 748,255.86 769,379.25

AIR PRODUCTS & CHEMICALS (CALLABLE)
DTD 02/08/2024 4.600% 02/08/2029
009158BH8 340,000.00 A A3 02/06/24 02/08/24 339,547.80 4.63 7,515.89 339,759.27 339,717.80

CISCO SYSTEMS INC (CALLABLE)
DTD 02/26/2024 4.850% 02/26/2029
17275RBR2 420,000.00 AA- A1 02/21/24 02/26/24 419,853.00 4.86 8,770.42 419,920.77 422,707.32

BLACKROCK INC (CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 50,000.00 AA- Aa3 03/05/24 03/14/24 49,909.50 4.74 894.31 49,950.07 50,213.45

BLACKROCK INC (CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 725,000.00 AA- Aa3 03/06/24 03/14/24 725,355.25 4.69 12,967.43 725,197.91 728,095.03

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 170,000.00 A+ A1 04/02/24 04/04/24 169,775.60 4.83 2,652.00 169,873.51 171,012.69

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 205,000.00 A+ A1 04/01/24 04/04/24 204,694.55 4.83 3,198.00 204,827.64 206,221.18

WELLS FARGO & COMPANY (CALLABLE)
DTD 04/23/2025 4.970% 04/23/2029
95000U3T8 110,000.00 BBB+ A1 04/16/25 04/23/25 110,088.00 4.95 1,488.24 110,052.35 110,410.63

WELLS FARGO & COMPANY (CALLABLE)
DTD 04/23/2025 4.970% 04/23/2029
95000U3T8 290,000.00 BBB+ A1 04/15/25 04/23/25 290,000.00 4.97 3,923.54 290,000.00 291,082.57

BANK OF AMERICA CORP (CALLABLE)
DTD 05/09/2025 4.623% 05/09/2029
06051GMT3 600,000.00 A- A1 05/06/25 05/09/25 600,000.00 4.62 6,318.10 600,000.00 598,638.60

HOME DEPOT INC (CALLABLE)
DTD 06/25/2024 4.750% 06/25/2029
437076DC3 125,000.00 A A2 06/17/24 06/25/24 124,193.75 4.90 593.75 124,508.96 125,612.13

HOME DEPOT INC (CALLABLE)
DTD 06/25/2024 4.750% 06/25/2029
437076DC3 250,000.00 A A2 06/18/24 06/25/24 248,627.50 4.88 1,187.50 249,164.60 251,224.25

AMERICAN HONDA FINANCE
DTD 09/05/2024 4.400% 09/05/2029
02665WFQ9 400,000.00 BBB+ A3 09/03/24 09/05/24 399,520.00 4.43 7,137.78 399,690.94 394,230.80 PFM Asset Management, a division of Page 10
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending July 31, 2026

MARS INC (CALLABLE)
DTD 03/12/2025 4.800% 03/01/2030
571676AY1 115,000.00 A A2 03/05/25 03/12/25 114,875.80 4.83 2,300.00 114,907.56 114,608.31

GOLDMAN SACHS GROUP INC (CALLABLE)
DTD 04/20/2026 4.594% 04/20/2030
38141GE83 275,000.00 BBB+ A2 04/13/26 04/20/26 275,000.00 4.59 3,544.40 275,000.00 272,040.45

GOLDMAN SACHS GROUP INC (CALLABLE)
DTD 04/20/2026 4.594% 04/20/2030
38141GE83 300,000.00 BBB+ A2 04/14/26 04/20/26 300,324.00 4.56 3,866.62 300,295.96 296,771.40

JPMORGAN CHASE & CO (CALLABLE)
DTD 04/23/2026 4.408% 04/23/2030
46647PFL5 445,000.00 A A1 04/15/26 04/23/26 445,000.00 4.41 5,339.80 445,000.00 438,989.39

STATE STREET CORP (CALLABLE)
DTD 04/24/2025 4.834% 04/24/2030
857477DB6 200,000.00 A Aa3 04/22/25 04/24/25 200,000.00 4.83 2,604.99 200,000.00 200,277.60

PACCAR FINANCIAL CORP
DTD 05/08/2025 4.550% 05/08/2030
69371RT71 400,000.00 A+ A1 05/05/25 05/08/25 399,380.00 4.59 4,196.11 399,520.54 398,696.80

ANALOG DEVICES INC (CALLABLE)
DTD 06/16/2025 4.500% 06/15/2030
032654BE4 400,000.00 A A2 06/12/25 06/16/25 399,648.00 4.52 2,300.00 399,721.60 395,956.00

NOVARTIS CAPITAL CORP (CALLABLE)
DTD 11/05/2025 4.100% 11/05/2030
66989HAY4 510,000.00 AA- Aa3 11/03/25 11/05/25 508,470.00 4.17 4,995.17 508,678.82 496,617.60

SHELL FINANCE US INC (CALLABLE)
DTD 11/06/2025 4.125% 11/06/2030
822905AN5 125,000.00 A+ Aa2 11/03/25 11/06/25 124,520.00 4.21 1,217.45 124,585.00 121,984.50

SHELL FINANCE US INC (CALLABLE)
DTD 11/06/2025 4.125% 11/06/2030
822905AN5 450,000.00 A+ Aa2 11/04/25 11/06/25 449,136.00 4.17 4,382.81 449,253.15 439,144.20

NORTHERN TRUST CORP
DTD 11/19/2025 4.150% 11/19/2030
665859AY0 115,000.00 A+ A2 11/12/25 11/19/25 114,943.65 4.16 954.50 114,951.12 112,158.23

NORTHERN TRUST CORP
DTD 11/19/2025 4.150% 11/19/2030
665859AY0 460,000.00 A+ A2 11/13/25 11/19/25 459,443.40 4.18 3,818.00 459,515.88 448,632.94 AMAZON.COM INC (CALLABLE)
DTD 11/20/2025 4.100% 11/20/2030
023135CT1 575,000.00 AA A1 11/17/25 11/20/25 574,384.75 4.12 4,649.51 574,463.36 557,038.15

TOTALENERGI CAP USA LLC (CALLABLE)
DTD 01/13/2026 4.248% 01/13/2031
89158TAA7 240,000.00 A+ Aa3 01/06/26 01/13/26 240,000.00 4.25 509.76 240,000.00 234,391.92 PFM Asset Management, a division of Page 11
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending July 31, 2026

TOTALENERGI CAP USA LLC (CALLABLE)
DTD 01/13/2026 4.248% 01/13/2031
89158TAA7 335,000.00 A+ Aa3 01/07/26 01/13/26 335,613.05 4.21 711.54 335,550.69 327,172.06

NVIDIA CORP (CALLABLE)
DTD 06/18/2026 4.500% 06/15/2031
67066GAR5 390,000.00 AA Aa1 06/15/26 06/18/26 389,259.00 4.54 2,096.25 389,276.18 381,687.15 Security Type Sub-Total 15,241,000.00 15,081,933.57 4.35 167,995.10 15,204,524.98 15,129,251.30 Bank Note

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 1,231.65 525,176.14 526,500.98 Security Type Sub-Total 525,000.00 525,525.00 4.94 1,231.65 525,176.14 526,500.98 Asset-Backed Security
TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
891940AC2 16,084.95 AAA NR 01/24/23 01/30/23 16,084.94 4.63 33.10 16,084.95 16,096.61 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
41285JAD0 2,101.33 NR Aaa 02/13/23 02/23/23 2,101.11 5.05 4.72 2,101.27 2,102.07 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 67,937.63 AAA NR 08/15/23 08/22/23 67,923.62 5.42 132.72 67,932.80 68,188.32 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
438123AC5 31,475.08 NR Aaa 11/01/23 11/08/23 31,469.54 5.67 49.57 31,472.66 31,661.32 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 97,966.81 AAA Aaa 08/15/23 08/23/23 97,960.74 5.53 240.78 97,964.33 98,321.94 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 405,000.00 AAA NR 09/07/23 09/15/23 404,887.73 5.17 928.80 404,948.82 405,607.50 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 410,000.00 AAA NR 09/12/23 09/19/23 409,981.67 5.23 953.02 409,991.78 410,671.17 PILOT 2025-1A A3
DTD 05/21/2025 4.610% 10/20/2028
73329KAD8 100,000.00 AAA NR 05/14/25 05/21/25 99,989.29 4.61 140.86 99,993.05 100,236.80 PFM Asset Management, a division of Page 12
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Asset-Backed Security
BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 180,000.00 NR Aaa 12/07/23 12/14/23 179,975.83 4.98 398.40 179,988.34 180,488.88 AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
02582JKH2 495,000.00 AAA NR 04/16/24 04/23/24 494,898.53 5.23 1,150.60 494,898.53 498,528.86 HAROT 2025-2 A3
DTD 05/08/2025 4.150% 10/15/2029
437921AD1 115,000.00 NR Aaa 04/29/25 05/08/25 114,987.15 4.15 212.11 114,990.70 114,748.04 BAAT 2025-1A A3
DTD 05/12/2025 4.350% 11/20/2029
05594BAD8 80,000.00 NR Aaa 05/06/25 05/12/25 79,994.48 4.35 106.33 79,996.07 80,017.36 MBART 2025-1 A3
DTD 01/23/2025 4.780% 12/17/2029
58773DAD6 550,000.00 NR Aaa 04/08/25 04/09/25 553,673.83 4.62 1,168.44 552,726.54 552,086.15 VZMT 2025-3 A1A
DTD 03/31/2025 4.510% 03/20/2030
92348KDY6 415,000.00 NR Aaa 03/25/25 03/31/25 414,982.16 4.51 571.89 414,987.50 415,564.40 GMCAR 2025-2 A3
DTD 05/14/2025 4.280% 04/16/2030
362549AD9 90,000.00 AAA Aaa 05/06/25 05/14/25 89,986.75 4.28 160.50 89,989.83 89,948.70 BACCT 2025-A1 A
DTD 06/12/2025 4.310% 05/15/2030
05522RDK1 250,000.00 AAA NR 06/05/25 06/12/25 249,999.05 4.31 478.89 250,000.00 249,490.50 WFCIT 2025-A1 A
DTD 06/10/2025 4.340% 05/15/2030
92970QAJ4 485,000.00 AAA NR 06/03/25 06/10/25 484,991.95 4.34 935.51 484,994.92 484,344.28 CCCIT 2025-A1 A
DTD 06/26/2025 4.300% 06/21/2030
17305EHA6 550,000.00 AAA Aaa 06/18/25 06/26/25 549,850.79 4.31 2,627.78 549,881.06 547,854.45 TAOT 2026-A A3
DTD 01/21/2026 3.860% 09/16/2030
89240KAD0 140,000.00 AAA Aaa 01/13/26 01/21/26 139,988.07 3.86 240.18 139,989.34 138,482.12 HAROT 2026-1 A3
DTD 02/18/2026 3.780% 09/23/2030
43815CAD0 145,000.00 NR Aaa 02/10/26 02/18/26 144,976.90 3.78 152.25 144,979.45 143,029.89 MBART 2026-1 A3
DTD 05/20/2026 4.360% 10/15/2030
58769MAD2 395,000.00 AAA NR 05/12/26 05/20/26 394,913.97 4.37 765.42 394,918.18 393,495.05 TAOT 2026-B A3
DTD 04/21/2026 4.130% 12/16/2030
89240QAD7 230,000.00 AAA Aaa 04/14/26 04/21/26 229,951.49 4.14 422.18 229,954.97 228,356.42 PFM Asset Management, a division of Page 13
U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending July 31, 2026

Managed Account Fair Market Value & Analytics For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B 91282CEV9 600,000.00 Citigrou 97.05 582,328.20 (6,726.49) (9,529.29) DTD 06/30/2022 3.250% 06/30/2029

2.74 4.30
US TREASURY N/B 91282CEV9 900,000.00 BMO 97.05 873,492.30 (4,921.76) (11,307.05) DTD 06/30/2022 3.250% 06/30/2029

2.74 4.30
US TREASURY N/B 91282CEV9 900,000.00 BMO 97.05 873,492.30 (2,074.11) (8,625.35) DTD 06/30/2022 3.250% 06/30/2029

2.74 4.30
US TREASURY N/B 91282CEV9 925,000.00 Citigrou 97.05 897,755.98 (4,480.35) (9,928.80) DTD 06/30/2022 3.250% 06/30/2029

2.74 4.30
US TREASURY N/B 91282CEV9 1,200,000.00 MorganSt 97.05 1,164,656.40 3,093.90 (8,700.91) DTD 06/30/2022 3.250% 06/30/2029

2.74 4.30
US TREASURY N/B 91282CEV9 1,500,000.00 Citigrou 97.05 1,455,820.50 (20,976.38) (27,539.53) DTD 06/30/2022 3.250% 06/30/2029

2.74 4.30
US TREASURY N/B 91282CEV9 3,900,000.00 RBC Capi 97.05 3,785,133.30 (56,519.04) (69,629.78) DTD 06/30/2022 3.250% 06/30/2029

2.74 4.30
US TREASURY N/B 91282CMG3 300,000.00 Citigrou 99.60 298,793.10 (8,027.21) (6,920.59) DTD 01/31/2025 4.250% 01/31/2030

3.23 4.33
US TREASURY N/B 91282CMG3 900,000.00 Citigrou 99.60 896,379.30 (23,905.86) (21,250.68) DTD 01/31/2025 4.250% 01/31/2030

3.23 4.33
US TREASURY N/B 91282CMG3 975,000.00 HSBC 99.60 971,077.58 (26,164.61) (22,206.37) DTD 01/31/2025 4.250% 01/31/2030

3.23 4.33
US TREASURY N/B 91282CMG3 1,450,000.00 Citigrou 99.60 1,444,166.65 (34,153.66) (30,903.72) DTD 01/31/2025 4.250% 01/31/2030

3.23 4.33
US TREASURY N/B 91282CMG3 1,725,000.00 RBC Capi 99.60 1,718,060.33 (34,229.71) (31,747.77) DTD 01/31/2025 4.250% 01/31/2030

3.23 4.33
US TREASURY N/B 91282CMG3 4,150,000.00 BMO 99.60 4,133,304.55 (119,797.01) (109,680.39) DTD 01/31/2025 4.250% 01/31/2030

3.23 4.33
US TREASURY N/B 91282CNX5 650,000.00 BNP Sec 97.11 631,211.10 (5,941.24) (6,187.27) DTD 09/02/2025 3.625% 08/31/2030

3.70 4.36
US TREASURY N/B 91282CNX5 1,800,000.00 RBC Capi 97.11 1,747,969.20 (11,671.43) (13,043.21) DTD 09/02/2025 3.625% 08/31/2030

3.70 4.36
US TREASURY N/B 91282CNX5 2,000,000.00 RBC Capi 97.11 1,942,188.00 (32,655.75) (34,320.50) DTD 09/02/2025 3.625% 08/31/2030

3.70 4.36
US TREASURY N/B 91282CNX5 3,000,000.00 RBC Capi 97.11 2,913,282.00 (40,663.31) (42,991.46) DTD 09/02/2025 3.625% 08/31/2030

3.70 4.36
PFM Asset Management, a division of Page 15
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending July 31, 2026

0.56 4.19
Security Type Sub-Total 200,000.00 200,736.80 736.80 736.80 0.56 4.19 Federal Agency Commercial Mortgage-Backed Security
FHMS K058 A2 3137BSP72 202,252.62 BREAN 99.74 201,728.18 7,992.29 (355.93) DTD 11/01/2016 2.653% 08/01/2026

0.07 3.64
FHMS K061 A2 3137BTUM1 353,418.86 Citigrou 99.60 351,990.69 9,450.50 (444.69) DTD 01/01/2017 3.347% 11/01/2026

0.26 4.08
FHMS K064 A2 3137BXQY1 550,000.00 MorganSt 99.37 546,549.30 27,744.61 2,177.44 DTD 05/01/2017 3.224% 03/01/2027

0.47 4.12
FHMS K065 A2 3137F1G44 550,000.00 Citigrou 99.20 545,604.40 18,571.20 (39.83) DTD 07/01/2017 3.243% 04/01/2027

0.62 4.20
FHMS KJ48 A1 3137HBC69 256,992.54 JPMorgan 100.28 257,707.49 717.01 715.40 DTD 12/01/2023 4.858% 05/01/2028

1.48 4.50
FHMS KJ46 A1 3137HAD45 272,838.57 JPMorgan 100.21 273,407.71 575.95 571.78 DTD 07/01/2023 4.777% 06/01/2028

1.18 4.38
FHMS K505 A2 3137HACX2 548,900.02 JPMorgan 100.30 550,547.27 (3,835.16) (465.41) DTD 07/01/2023 4.819% 06/01/2028

1.67 4.50
FNA 2023-M6 A2 3136BQDE6 491,120.60 JPMorgan 99.19 487,153.33 4,358.76 (653.56) DTD 07/01/2023 4.172% 07/01/2028

1.81 4.51
FHMS K508 A2 3137HAQ74 500,000.00 BMO 100.10 500,512.00 11,480.00 5,550.54 DTD 10/01/2023 4.740% 08/01/2028

1.86 4.56
FHMS K506 A2 3137HAMH6 800,000.00 WellsFar 100.00 800,022.40 11,856.80 5,346.66 DTD 09/01/2023 4.650% 08/01/2028

1.83 4.52
FHMS K509 A2 3137HAST4 375,000.00 MorganSt 100.34 376,257.00 13,213.12 7,017.09 DTD 10/01/2023 4.850% 09/01/2028

1.94 4.56
FHMS K507 A2 3137HAMS2 500,000.00 BOFAML 100.29 501,443.50 7,420.00 4,257.05 DTD 09/01/2023 4.800% 09/01/2028

1.90 4.53
FHMS K510 A2 3137HB3D4 180,000.00 JPMorgan 100.77 181,385.10 1,905.48 1,638.17 DTD 11/01/2023 5.069% 10/01/2028

1.98 4.56
PFM Asset Management, a division of Page 16
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Federal Agency Commercial Mortgage-Backed Security
FHMS K511 A2 3137HB3G7 275,000.00 BOFAML 100.35 275,959.75 1,749.82 1,346.14 DTD 12/01/2023 4.860% 10/01/2028

2.01 4.57
FHMS K514 A2 3137HBLV4 290,000.00 JPMorgan 99.83 289,517.44 (3,382.27) (1,990.85) DTD 02/01/2024 4.572% 12/01/2028

2.10 4.55
FHMS K524 A2 3137HDV56 440,000.00 PIER 100.13 440,589.16 (2,112.88) (1,088.02) DTD 07/01/2024 4.720% 05/01/2029

2.55 4.59
FHMS K526 A2 3137HDXL9 495,000.00 BMO 99.63 493,179.88 (6,450.35) (4,738.11) DTD 08/01/2024 4.543% 07/01/2029

2.70 4.61
FHMS K539 A2 3137HKXJ8 190,000.00 JPMorgan 99.10 188,292.66 (1,700.69) (1,702.42) DTD 04/01/2025 4.410% 01/01/2030

3.14 4.65
FNA 2026-M11 2A2 3136G5V64 410,000.00 WellsFar 97.68 400,506.45 (4,496.68) (4,502.82) DTD 05/01/2026 4.250% 05/01/2031

4.21 4.78
Security Type Sub-Total 7,680,523.20 7,662,353.71 95,057.51 12,638.63 1.77 4.45 Corporate Note
BMW US CAPITAL LLC (CALLABLE) 05565EBW4 175,000.00 SUMITR 99.92 174,868.23 (79.27) (131.45) DTD 08/12/2021 1.250% 08/12/2026

0.03 3.73
CATERPILLAR FINL SERVICE 14913R2U0 225,000.00 JPMorgan 98.96 222,669.00 (1,194.75) (2,231.62) DTD 01/10/2022 1.700% 01/08/2027

0.43 4.12
TARGET CORP (CALLABLE) 87612EBM7 40,000.00 Citigrou 12/15/26 99.04 39,616.68 (315.32) (377.09) DTD 01/24/2022 1.950% 01/15/2027

0.45 4.09
BANK OF NY MELLON CORP (CALLABLE) 06406RBA4 475,000.00 Deutsche 12/24/26 98.99 470,208.68 (3,736.82) (4,688.68) DTD 01/26/2022 2.050% 01/26/2027

0.47 4.17
MICROSOFT CORP (CALLABLE) 594918BY9 750,000.00 GoldmanS 11/06/26 99.54 746,517.75 24,575.25 228.00 DTD 02/06/2017 3.300% 02/06/2027

0.49 4.22
AMERICAN EXPRESS CO (CALLABLE) 025816CS6 300,000.00 RBS 02/01/27 99.01 297,026.40 19,823.40 294.07 DTD 03/04/2022 2.550% 03/04/2027

0.57 4.26
BERKSHIRE HATHAWAY FIN (CALLABLE) 084664CZ2 475,000.00 SEEL 02/15/27 98.92 469,847.20 3,758.20 (4,042.64) DTD 03/15/2022 2.300% 03/15/2027

0.60 4.08
CHARLES SCHWAB CORP (CALLABLE) 808513BW4 300,000.00 Barclays 01/01/27 99.35 298,035.60 13,110.60 481.85 DTD 09/24/2021 3.300% 04/01/2027

0.63 4.30
NATIONAL AUSTRALIA BK/NY 63254ABE7 500,000.00 CAS 99.68 498,391.50 10,066.50 665.95 DTD 06/09/2022 3.905% 06/09/2027

0.83 4.29
PFM Asset Management, a division of Page 17
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
APPLE INC (CALLABLE) 037833DB3 775,000.00 TD Secur 06/12/27 98.54 763,646.25 22,583.50 (3,199.86) DTD 09/12/2017 2.900% 09/12/2027

1.05 4.26
TOYOTA MOTOR CREDIT CORP 89236TKQ7 375,000.00 WellsFar 100.34 376,260.75 (21.75) 883.67 DTD 01/12/2023 4.625% 01/12/2028

1.38 4.38
NATIONAL RURAL UTIL COOP (CALLABLE) 637432NP6 350,000.00 MorganSt 11/07/27 98.32 344,104.60 14,915.60 470.32 DTD 02/07/2018 3.400% 02/07/2028

1.40 4.56
TEXAS INSTRUMENTS INC (CALLABLE) 882508BV5 85,000.00 JPMorgan 01/15/28 100.18 85,155.89 (1,887.51) (482.60) DTD 11/18/2022 4.600% 02/15/2028

1.40 4.47
BRISTOL-MYERS SQUIBB CO (CALLABLE) 110122DE5 211,000.00 MAXE 11/20/27 99.27 209,464.13 7,881.06 1,426.46 DTD 07/15/2020 3.900% 02/20/2028

1.39 4.39
LOCKHEED MARTIN CORP (CALLABLE) 539830BZ1 60,000.00 Barclays 04/15/28 99.95 59,970.24 78.24 9.10 DTD 05/25/2023 4.450% 05/15/2028

1.65 4.48
JOHN DEERE CAPITAL CORP 24422EXB0 375,000.00 Citigrou 101.00 378,756.00 891.00 2,630.18 DTD 07/14/2023 4.950% 07/14/2028

1.84 4.41
CITIBANK NA (CALLABLE) 17325FBB3 750,000.00 Barclays 08/29/28 102.58 769,379.25 23,099.25 21,123.39 DTD 09/29/2023 5.803% 09/29/2028

1.93 4.53
AIR PRODUCTS & CHEMICALS (CALLABLE) 009158BH8 340,000.00 Barclays 01/08/29 99.92 339,717.80 170.00 (41.47) DTD 02/08/2024 4.600% 02/08/2029

2.27 4.63
CISCO SYSTEMS INC (CALLABLE) 17275RBR2 420,000.00 Citigrou 01/26/29 100.64 422,707.32 2,854.32 2,786.55 DTD 02/26/2024 4.850% 02/26/2029

2.31 4.58
BLACKROCK INC (CALLABLE) 09290DAA9 50,000.00 Citigrou 02/14/29 100.43 50,213.45 303.95 263.38 DTD 03/14/2024 4.700% 03/14/2029

2.37 4.52
BLACKROCK INC (CALLABLE) 09290DAA9 725,000.00 BOFAML 02/14/29 100.43 728,095.03 2,739.78 2,897.12 DTD 03/14/2024 4.700% 03/14/2029

2.37 4.52
ADOBE INC (CALLABLE) 00724PAF6 170,000.00 SEEL 03/04/29 100.60 171,012.69 1,237.09 1,139.18 DTD 04/04/2024 4.800% 04/04/2029

2.41 4.56
ADOBE INC (CALLABLE) 00724PAF6 205,000.00 BOFAML 03/04/29 100.60 206,221.18 1,526.63 1,393.54 DTD 04/04/2024 4.800% 04/04/2029

2.41 4.56
WELLS FARGO & COMPANY (CALLABLE) 95000U3T8 110,000.00 SEEL 04/23/28 100.37 110,410.63 322.63 358.28 DTD 04/23/2025 4.970% 04/23/2029

1.62 4.84
WELLS FARGO & COMPANY (CALLABLE) 95000U3T8 290,000.00 WellsFar 04/23/28 100.37 291,082.57 1,082.57 1,082.57 DTD 04/23/2025 4.970% 04/23/2029

1.62 4.84
BANK OF AMERICA CORP (CALLABLE) 06051GMT3 600,000.00 BOFAML 05/09/28 99.77 598,638.60 (1,361.40) (1,361.40) DTD 05/09/2025 4.623% 05/09/2029

1.67 4.77
PFM Asset Management, a division of Page 18
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
HOME DEPOT INC (CALLABLE) 437076DC3 125,000.00 MorganSt 05/25/29 100.49 125,612.13 1,418.38 1,103.17 DTD 06/25/2024 4.750% 06/25/2029

2.64 4.57
HOME DEPOT INC (CALLABLE) 437076DC3 250,000.00 PNCBank 05/25/29 100.49 251,224.25 2,596.75 2,059.65 DTD 06/25/2024 4.750% 06/25/2029

2.64 4.57
AMERICAN HONDA FINANCE 02665WFQ9 400,000.00 Deutsche 98.56 394,230.80 (5,289.20) (5,460.14) DTD 09/05/2024 4.400% 09/05/2029

2.81 4.91
MARS INC (CALLABLE) 571676AY1 115,000.00 BOFAML 02/01/30 99.66 114,608.31 (267.49) (299.25) DTD 03/12/2025 4.800% 03/01/2030

3.16 4.90
GOLDMAN SACHS GROUP INC (CALLABLE) 38141GE83 275,000.00 GoldmanS 04/20/29 98.92 272,040.45 (2,959.55) (2,959.55) DTD 04/20/2026 4.594% 04/20/2030

2.51 4.93
GOLDMAN SACHS GROUP INC (CALLABLE) 38141GE83 300,000.00 RBC Capi 04/20/29 98.92 296,771.40 (3,552.60) (3,524.56) DTD 04/20/2026 4.594% 04/20/2030

2.51 4.93
JPMORGAN CHASE & CO (CALLABLE) 46647PFL5 445,000.00 JPMorgan 04/23/29 98.65 438,989.39 (6,010.61) (6,010.61) DTD 04/23/2026 4.408% 04/23/2030

2.52 4.83
STATE STREET CORP (CALLABLE) 857477DB6 200,000.00 MorganSt 03/24/30 100.14 200,277.60 277.60 277.60 DTD 04/24/2025 4.834% 04/24/2030

3.31 4.79
PACCAR FINANCIAL CORP 69371RT71 400,000.00 TD Secur 99.67 398,696.80 (683.20) (823.74) DTD 05/08/2025 4.550% 05/08/2030

3.39 4.64
ANALOG DEVICES INC (CALLABLE) 032654BE4 400,000.00 BOFAML 05/15/30 98.99 395,956.00 (3,692.00) (3,765.60) DTD 06/16/2025 4.500% 06/15/2030

3.47 4.79
NOVARTIS CAPITAL CORP (CALLABLE) 66989HAY4 510,000.00 JPMorgan 10/05/30 97.38 496,617.60 (11,852.40) (12,061.22) DTD 11/05/2025 4.100% 11/05/2030

3.81 4.79
SHELL FINANCE US INC (CALLABLE) 822905AN5 125,000.00 MorganSt 10/06/30 97.59 121,984.50 (2,535.50) (2,600.50) DTD 11/06/2025 4.125% 11/06/2030

3.81 4.76
SHELL FINANCE US INC (CALLABLE) 822905AN5 450,000.00 RBC Capi 10/06/30 97.59 439,144.20 (9,991.80) (10,108.95) DTD 11/06/2025 4.125% 11/06/2030

3.81 4.76
NORTHERN TRUST CORP 665859AY0 115,000.00 BOFAML 97.53 112,158.23 (2,785.42) (2,792.89) DTD 11/19/2025 4.150% 11/19/2030

3.86 4.79
NORTHERN TRUST CORP 665859AY0 460,000.00 CIDLY 97.53 448,632.94 (10,810.46) (10,882.94) DTD 11/19/2025 4.150% 11/19/2030

3.86 4.79
AMAZON.COM INC (CALLABLE) 023135CT1 575,000.00 JPMorgan 10/20/30 96.88 557,038.15 (17,346.60) (17,425.21) DTD 11/20/2025 4.100% 11/20/2030

3.84 4.91
TOTALENERGI CAP USA LLC (CALLABLE) 89158TAA7 240,000.00 Citigrou 12/13/30 97.66 234,391.92 (5,608.08) (5,608.08) DTD 01/13/2026 4.248% 01/13/2031

3.98 4.84
PFM Asset Management, a division of Page 19
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
TOTALENERGI CAP USA LLC (CALLABLE) 89158TAA7 335,000.00 TD Secur 12/13/30 97.66 327,172.06 (8,440.99) (8,378.63) DTD 01/13/2026 4.248% 01/13/2031

3.98 4.84
NVIDIA CORP (CALLABLE) 67066GAR5 390,000.00 GoldmanS 05/15/31 97.87 381,687.15 (7,571.85) (7,589.03) DTD 06/18/2026 4.500% 06/15/2031

4.28 5.00
Security Type Sub-Total 15,241,000.00 15,129,251.30 47,317.73 (75,273.68) 2.18 4.57 Bank Note
MORGAN STANLEY BANK NA (CALLABLE) 61690U8E3 525,000.00 Citigrou 07/14/27 100.29 526,500.98 975.98 1,324.84 DTD 07/19/2024 4.968% 07/14/2028

0.92 4.63
Security Type Sub-Total 525,000.00 526,500.98 975.98 1,324.84 0.92 4.63 Asset-Backed Security
TAOT 2023-A A3 891940AC2 16,084.95 BOFAML 100.07 16,096.61 11.67 11.66 DTD 01/30/2023 4.630% 09/15/2027

0.08 3.73
HDMOT 2023-A A3 41285JAD0 2,101.33 JPMorgan 100.04 2,102.07 0.96 0.80 DTD 02/23/2023 5.050% 12/15/2027

0.04 4.17
HAROT 2023-3 A3 43815QAC1 67,937.63 BOFAML 100.37 68,188.32 264.70 255.52 DTD 08/22/2023 5.410% 02/18/2028

0.26 4.02
HAROT 2023-4 A3 438123AC5 31,475.08 JPMorgan 100.59 31,661.32 191.78 188.66 DTD 11/08/2023 5.670% 06/21/2028

0.43 4.35
FITAT 2023-1 A3 31680EAD3 97,966.81 JPMorgan 100.36 98,321.94 361.20 357.61 DTD 08/23/2023 5.530% 08/15/2028

0.31 4.42
CHAIT 2023-A1 A 161571HT4 405,000.00 JPMorgan 100.15 405,607.50 719.77 658.68 DTD 09/15/2023 5.160% 09/15/2028

0.12 3.96
AMXCA 2023-3 A 02582JKD1 410,000.00 Citigrou 100.16 410,671.17 689.50 679.39 DTD 09/19/2023 5.230% 09/15/2028

0.12 3.92
PILOT 2025-1A A3 73329KAD8 100,000.00 Barclays 100.24 100,236.80 247.51 243.75 DTD 05/21/2025 4.610% 10/20/2028

0.96 4.41
BACCT 2023-A2 A2 05522RDH8 180,000.00 BOFAML 100.27 180,488.88 513.05 500.54 DTD 12/14/2023 4.980% 11/15/2028

0.29 4.07
AMXCA 2024-1 A 02582JKH2 495,000.00 Barclays 100.71 498,528.86 3,630.33 3,630.33 DTD 04/23/2024 5.230% 04/16/2029

0.68 4.24
PFM Asset Management, a division of Page 20
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Asset-Backed Security
HAROT 2025-2 A3 437921AD1 115,000.00 JPMorgan 99.78 114,748.04 (239.11) (242.66) DTD 05/08/2025 4.150% 10/15/2029

1.06 4.39
BAAT 2025-1A A3 05594BAD8 80,000.00 BOFAML 100.02 80,017.36 22.88 21.29 DTD 05/12/2025 4.350% 11/20/2029

0.76 4.36
MBART 2025-1 A3 58773DAD6 550,000.00 WellsFar 100.38 552,086.15 (1,587.68) (640.39) DTD 01/23/2025 4.780% 12/17/2029

0.77 4.33
VZMT 2025-3 A1A 92348KDY6 415,000.00 BOFAML 100.14 415,564.40 582.24 576.90 DTD 03/31/2025 4.510% 03/20/2030

1.15 4.49
GMCAR 2025-2 A3 362549AD9 90,000.00 TD Secur 99.94 89,948.70 (38.05) (41.13) DTD 05/14/2025 4.280% 04/16/2030

0.86 4.38
BACCT 2025-A1 A 05522RDK1 250,000.00 BOFAML 99.80 249,490.50 (508.55) (509.50) DTD 06/12/2025 4.310% 05/15/2030

1.68 4.47
WFCIT 2025-A1 A 92970QAJ4 485,000.00 WellsFar 99.86 484,344.28 (647.67) (650.64) DTD 06/10/2025 4.340% 05/15/2030

1.69 4.42
CCCIT 2025-A1 A 17305EHA6 550,000.00 Citigrou 99.61 547,854.45 (1,996.34) (2,026.61) DTD 06/26/2025 4.300% 06/21/2030

1.79 4.52
TAOT 2026-A A3 89240KAD0 140,000.00 BNP Sec 98.92 138,482.12 (1,505.95) (1,507.22) DTD 01/21/2026 3.860% 09/16/2030

1.82 4.49
HAROT 2026-1 A3 43815CAD0 145,000.00 MUFG 98.64 143,029.89 (1,947.01) (1,949.56) DTD 02/18/2026 3.780% 09/23/2030

1.73 4.60
MBART 2026-1 A3 58769MAD2 395,000.00 MUFG 99.62 393,495.05 (1,418.92) (1,423.13) DTD 05/20/2026 4.360% 10/15/2030

2.02 4.59
TAOT 2026-B A3 89240QAD7 230,000.00 MIZU 99.29 228,356.42 (1,595.07) (1,598.55) DTD 04/21/2026 4.130% 12/16/2030

2.06 4.51
FORDO 2026-B A3 34536DAD5 285,000.00 Citigrou 99.65 284,002.50 (987.53) (988.13) DTD 06/23/2026 4.390% 02/15/2031

2.18 4.59
HART 2026-A A3 448981AD2 165,000.00 BOFAML 98.57 162,636.21 (2,352.65) (2,354.15) DTD 02/18/2026 3.790% 02/18/2031

1.96 4.55
BACCT 2026-A1 A 05522RDL9 515,000.00 BOFAML 99.17 510,739.92 (4,208.27) (4,211.80) DTD 05/14/2026 4.220% 04/15/2031

2.50 4.59
COMET 2026-A1 A 14041NGJ4 555,000.00 Barclays 99.87 554,302.37 (568.65) (569.61) DTD 07/16/2026 4.480% 07/15/2031

2.71 4.57
Security Type Sub-Total 6,770,565.80 6,761,001.83 (12,365.86) (11,587.95) 1.41 4.39 PFM Asset Management, a division of Page 21
U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Managed Account Sub-Total 57,292,089.00 56,608,955.41 (298,091.86) (536,674.03) 2.48 4.42 Joint Powers Authority
CAMP Pool 679,582.02 1.00 679,582.02 0.00 0.00 0.00
Liquid Sub-Total 679,582.02 679,582.02 0.00 0.00 0.00
Total Investments $57,646,433.62
$357,896.19
$57,288,537.43
Accrued Interest
Securities Sub-Total $57,971,671.02 ($298,091.86) ($536,674.03) 2.48 4.42% PFM Asset Management, a division of Page 22
U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
BUY
07/16/26 COMET 2026-A1 A
DTD 07/16/2026 4.480% 07/15/2031
07/09/26 14041NGJ4 555,000.00 (554,871.02) 0.00 (554,871.02) Transaction Type Sub-Total 555,000.00 (554,871.02) 0.00 (554,871.02)

INTEREST
07/25/26 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
07/01/26 3137HAD45 0.00 1,660.48 1,660.48
07/25/26 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
07/01/26 3137BTUM1 0.00 993.36 993.36
07/25/26 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
07/01/26 3137HAQ74 0.00 1,975.00 1,975.00
07/25/26 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
07/01/26 3137HDV56 0.00 1,730.67 1,730.67
07/25/26 FHMS K539 A2
DTD 04/01/2025 4.410% 01/01/2030
07/01/26 3137HKXJ8 0.00 698.25 698.25
07/25/26 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
07/01/26 3137HDXL9 0.00 1,873.99 1,873.99
07/25/26 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
07/01/26 3137BXQY1 0.00 1,477.67 1,477.67
07/25/26 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
07/01/26 3137HBLV4 0.00 1,104.90 1,104.90
07/25/26 FNA 2023-M6 A2
DTD 07/01/2023 4.172% 07/01/2028
07/01/26 3136BQDE6 0.00 1,768.83 1,768.83
07/25/26 FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
07/01/26 3137BSP72 0.00 1,006.07 1,006.07
07/25/26 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
07/01/26 3137HAMH6 0.00 3,100.00 3,100.00
07/25/26 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
07/01/26 3137HB3G7 0.00 1,113.75 1,113.75
07/25/26 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
07/01/26 3137HB3D4 0.00 760.35 760.35
07/25/26 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
07/01/26 3137HAMS2 0.00 2,000.00 2,000.00
PFM Asset Management, a division of Page 23
U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending July 31, 2026

INTEREST
07/25/26 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
07/01/26 3137HBC69 0.00 1,046.17 1,046.17
07/25/26 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
07/01/26 3137HAST4 0.00 1,515.63 1,515.63
07/25/26 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
07/01/26 3137F1G44 0.00 1,486.38 1,486.38
07/25/26 FNA 2026-M11 2A2
DTD 05/01/2026 4.250% 05/01/2031
07/01/26 3136G5V64 0.00 1,452.08 1,452.08
07/25/26 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
07/01/26 3137HACX2 0.00 2,218.81 2,218.81
07/08/26 CATERPILLAR FINL SERVICE
DTD 01/10/2022 1.700% 01/08/2027
07/08/26 14913R2U0 0.00 1,912.50 1,912.50
07/12/26 TOYOTA MOTOR CREDIT CORP
DTD 01/12/2023 4.625% 01/12/2028
07/12/26 89236TKQ7 0.00 8,671.88 8,671.88
07/13/26 TOTALENERGI CAP USA LLC
(CALLABLE)
DTD 01/13/2026 4.248% 01/13/2031
07/13/26 89158TAA7 0.00 12,213.00 12,213.00
07/14/26 JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
07/14/26 24422EXB0 0.00 9,281.25 9,281.25
07/14/26 MORGAN STANLEY BANK NA
(CALLABLE)
DTD 07/19/2024 4.968% 07/14/2028
07/14/26 61690U8E3 0.00 13,041.00 13,041.00
07/15/26 TAOT 2026-B A3
DTD 04/21/2026 4.130% 12/16/2030
07/15/26 89240QAD7 0.00 791.58 791.58
07/15/26 TARGET CORP (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
07/15/26 87612EBM7 0.00 390.00 390.00
07/15/26 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
07/15/26 41285JAD0 0.00 36.43 36.43
07/15/26 FORDO 2026-B A3
DTD 06/23/2026 4.390% 02/15/2031
07/15/26 34536DAD5 0.00 764.59 764.59
07/15/26 HAROT 2025-2 A3
DTD 05/08/2025 4.150% 10/15/2029
07/15/26 437921AD1 0.00 397.71 397.71
07/15/26 HART 2026-A A3
DTD 02/18/2026 3.790% 02/18/2031
07/15/26 448981AD2 0.00 521.12 521.12
PFM Asset Management, a division of Page 24
U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending July 31, 2026

INTEREST
07/15/26 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
07/15/26 31680EAD3 0.00 518.86 518.86
07/15/26 TAOT 2026-A A3
DTD 01/21/2026 3.860% 09/16/2030
07/15/26 89240KAD0 0.00 450.33 450.33
07/15/26 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
07/15/26 65480JAC4 0.00 1.30 1.30
07/15/26 WFCIT 2025-A1 A
DTD 06/10/2025 4.340% 05/15/2030
07/15/26 92970QAJ4 0.00 1,754.08 1,754.08
07/15/26 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
07/15/26 891940AC2 0.00 95.32 95.32
07/15/26 BACCT 2025-A1 A
DTD 06/12/2025 4.310% 05/15/2030
07/15/26 05522RDK1 0.00 897.92 897.92
07/15/26 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
07/15/26 161571HT4 0.00 1,741.50 1,741.50
07/15/26 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
07/15/26 02582JKD1 0.00 1,786.92 1,786.92
07/15/26 BACCT 2026-A1 A
DTD 05/14/2026 4.220% 04/15/2031
07/15/26 05522RDL9 0.00 1,811.08 1,811.08
07/15/26 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
07/15/26 05522RDH8 0.00 747.00 747.00
07/15/26 AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
07/15/26 02582JKH2 0.00 2,157.37 2,157.37
07/15/26 MBART 2026-1 A3
DTD 05/20/2026 4.360% 10/15/2030
07/15/26 58769MAD2 0.00 1,435.17 1,435.17
07/15/26 MBART 2025-1 A3
DTD 01/23/2025 4.780% 12/17/2029
07/15/26 58773DAD6 0.00 2,190.83 2,190.83
07/16/26 GMCAR 2025-2 A3
DTD 05/14/2025 4.280% 04/16/2030
07/16/26 362549AD9 0.00 321.00 321.00
07/18/26 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
07/18/26 43815QAC1 0.00 361.38 361.38
07/20/26 PILOT 2025-1A A3
DTD 05/21/2025 4.610% 10/20/2028
07/20/26 73329KAD8 0.00 384.17 384.17
07/20/26 VZMT 2025-3 A1A
DTD 03/31/2025 4.510% 03/20/2030
07/20/26 92348KDY6 0.00 1,559.71 1,559.71
PFM Asset Management, a division of Page 25
U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending July 31, 2026

INTEREST
07/20/26 BAAT 2025-1A A3
DTD 05/12/2025 4.350% 11/20/2029
07/20/26 05594BAD8 0.00 290.00 290.00
07/21/26 HAROT 2026-1 A3
DTD 02/18/2026 3.780% 09/23/2030
07/21/26 43815CAD0 0.00 456.75 456.75
07/21/26 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
07/21/26 438123AC5 0.00 165.53 165.53
07/26/26 BANK OF NY MELLON CORP
(CALLABLE)
DTD 01/26/2022 2.050% 01/26/2027
07/26/26 06406RBA4 0.00 4,868.75 4,868.75
07/31/26 US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
07/31/26 91282CMG3 0.00 201,875.00 201,875.00
Transaction Type Sub-Total 0.00 302,873.42 302,873.42

PAYDOWNS
07/25/26 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
07/01/26 3137BTUM1 2,730.25 2,730.25 0.00 2,730.25 84.04 9.60 07/25/26 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
07/01/26 3137HACX2 1,099.98 1,099.98 0.00 1,099.98 (10.99) (4.42) 07/25/26 FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
07/01/26 3137BSP72 252,809.61 252,809.61 0.00 252,809.61 10,645.66 473.92 07/25/26 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
07/01/26 3137HAD45 144,281.06 144,281.06 0.00 144,281.06 3.60 1.45 07/25/26 FNA 2023-M6 A2
DTD 07/01/2023 4.172% 07/01/2028
07/01/26 3136BQDE6 12,838.79 12,838.79 0.00 12,838.79 217.66 90.27 07/25/26 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
07/01/26 3137HBC69 1,428.03 1,428.03 0.00 1,428.03 0.01 0.00 07/15/26 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
07/15/26 65480JAC4 349.82 349.81 0.00 349.81 0.06 0.00
07/15/26 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
07/15/26 891940AC2 8,620.52 8,620.52 0.00 8,620.52 0.00 0.00 07/15/26 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
07/15/26 31680EAD3 14,623.87 14,623.87 0.00 14,623.87 0.91 0.38 07/15/26 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
07/15/26 41285JAD0 6,554.26 6,554.26 0.00 6,554.26 0.66 0.19 PFM Asset Management, a division of Page 26
U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending July 31, 2026

PAYDOWNS
07/18/26 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
07/18/26 43815QAC1 12,220.17 12,220.17 0.00 12,220.17 2.52 0.89 07/21/26 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
07/21/26 438123AC5 3,556.91 3,556.91 0.00 3,556.91 0.63 0.28 Transaction Type Sub-Total 461,113.27 461,113.26 0.00 461,113.26 10,944.76 572.56 SELL
07/16/26 US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
07/09/26 91282CEV9 475,000.00 462,401.37 671.20 463,072.57 2,616.21 (1,903.20) FIFO Transaction Type Sub-Total 475,000.00 462,401.37 671.20 463,072.57 2,616.21 (1,903.20) Managed Account Sub-Total 368,643.61 303,544.62 672,188.23 13,560.97 (1,330.64) Total Security Transactions $368,643.61 $303,544.62 $672,188.23 $13,560.97 ($1,330.64) PFM Asset Management, a division of Page 27
U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
Opening Balance 11,542.53
07/08/26 07/08/26 Purchase - Interest 14913R2U0 1.00 1,912.50 13,455.03 07/13/26 07/13/26 Purchase - Interest 89158TAA7 1.00 12,213.00 25,668.03 07/13/26 07/13/26 Purchase - Interest 89236TKQ7 1.00 8,671.88 34,339.91 07/14/26 07/14/26 Purchase - Interest 24422EXB0 1.00 9,281.25 43,621.16 07/14/26 07/14/26 Purchase - Interest 61690U8E3 1.00 13,041.00 56,662.16 07/15/26 07/15/26 Purchase - Interest 87612EBM7 1.00 390.00 57,052.16 07/15/26 07/15/26 Purchase - Interest 02582JKD1 1.00 1,786.92 58,839.08 07/15/26 07/15/26 Purchase - Interest 02582JKH2 1.00 2,157.37 60,996.45 07/15/26 07/15/26 Purchase - Interest 05522RDH8 1.00 747.00 61,743.45 07/15/26 07/15/26 Purchase - Interest 05522RDK1 1.00 897.92 62,641.37 07/15/26 07/15/26 Purchase - Interest 05522RDL9 1.00 1,811.08 64,452.45 07/15/26 07/15/26 Purchase - Interest 161571HT4 1.00 1,741.50 66,193.95 07/15/26 07/15/26 Purchase - Interest 31680EAD3 1.00 518.86 66,712.81 07/15/26 07/15/26 Purchase - Interest 34536DAD5 1.00 764.59 67,477.40 07/15/26 07/15/26 Purchase - Interest 41285JAD0 1.00 36.43 67,513.83 07/15/26 07/15/26 Purchase - Interest 437921AD1 1.00 397.71 67,911.54 07/15/26 07/15/26 Purchase - Interest 448981AD2 1.00 521.12 68,432.66 07/15/26 07/15/26 Purchase - Interest 58769MAD2 1.00 1,435.17 69,867.83 07/15/26 07/15/26 Purchase - Interest 58773DAD6 1.00 2,190.83 72,058.66 07/15/26 07/15/26 Purchase - Interest 65480JAC4 1.00 1.30 72,059.96 07/15/26 07/15/26 Purchase - Interest 891940AC2 1.00 95.32 72,155.28 PFM Asset Management, a division of Page 28
U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
07/15/26 07/15/26 Purchase - Interest 89240KAD0 1.00 450.33 72,605.61 07/15/26 07/15/26 Purchase - Interest 89240QAD7 1.00 791.58 73,397.19 07/15/26 07/15/26 Purchase - Interest 92970QAJ4 1.00 1,754.08 75,151.27 07/15/26 07/15/26 Purchase - Principal 31680EAD3 1.00 14,623.87 89,775.14 07/15/26 07/15/26 Purchase - Principal 41285JAD0 1.00 6,554.26 96,329.40 07/15/26 07/15/26 Purchase - Principal 65480JAC4 1.00 349.81 96,679.21 07/15/26 07/15/26 Purchase - Principal 891940AC2 1.00 8,620.52 105,299.73 07/16/26 07/16/26 Purchase - Interest 362549AD9 1.00 321.00 105,620.73 07/16/26 07/16/26 Purchase - Principal 91282CEV9 1.00 462,401.37 568,022.10 07/16/26 07/16/26 Purchase - Interest 91282CEV9 1.00 671.20 568,693.30 07/16/26 07/16/26 Redemption - Principal 14041NGJ4 1.00 (554,871.02) 13,822.28 07/20/26 07/20/26 Purchase - Interest 92348KDY6 1.00 1,559.71 15,381.99 07/20/26 07/20/26 Purchase - Interest 73329KAD8 1.00 384.17 15,766.16 07/20/26 07/20/26 Purchase - Interest 43815QAC1 1.00 361.38 16,127.54 07/20/26 07/20/26 Purchase - Interest 05594BAD8 1.00 290.00 16,417.54 07/20/26 07/20/26 Purchase - Principal 43815QAC1 1.00 12,220.17 28,637.71 07/21/26 07/21/26 Purchase - Interest 438123AC5 1.00 165.53 28,803.24 07/21/26 07/21/26 Purchase - Interest 43815CAD0 1.00 456.75 29,259.99 07/21/26 07/21/26 Purchase - Principal 438123AC5 1.00 3,556.91 32,816.90 07/27/26 07/27/26 Purchase - Interest 06406RBA4 1.00 4,868.75 37,685.65 07/27/26 07/27/26 Purchase - Interest 3137BXQY1 1.00 1,477.67 39,163.32 07/27/26 07/27/26 Purchase - Interest 3137F1G44 1.00 1,486.38 40,649.70 PFM Asset Management, a division of Page 29
U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
07/27/26 07/27/26 Purchase - Interest 3137HACX2 1.00 2,208.71 42,858.41 07/27/26 07/27/26 Purchase - Interest 3137HAD45 1.00 1,660.48 44,518.89 07/27/26 07/27/26 Purchase - Interest 3137HAMH6 1.00 3,100.00 47,618.89 07/27/26 07/27/26 Purchase - Interest 3137HAMS2 1.00 2,000.00 49,618.89 07/27/26 07/27/26 Purchase - Interest 3137HAQ74 1.00 1,975.00 51,593.89 07/27/26 07/27/26 Purchase - Interest 3137HAST4 1.00 1,515.63 53,109.52 07/27/26 07/27/26 Purchase - Interest 3137HB3D4 1.00 760.35 53,869.87 07/27/26 07/27/26 Purchase - Interest 3137HB3G7 1.00 1,113.75 54,983.62 07/27/26 07/27/26 Purchase - Interest 3137HBC69 1.00 1,046.17 56,029.79 07/27/26 07/27/26 Purchase - Correction to Interest 3136BQDE6 from 07/25/2026 1.00 1,768.83 57,798.62 07/27/26 07/27/26 Purchase - Interest 3136BQDE6 1.00 1,752.08 59,550.70 07/27/26 07/27/26 Purchase - Interest 3136G5V64 1.00 1,452.08 61,002.78 07/27/26 07/27/26 Purchase - Interest 3137BSP72 1.00 1,006.07 62,008.85 07/27/26 07/27/26 Purchase - Interest 3137BTUM1 1.00 993.36 63,002.21 07/27/26 07/27/26 Purchase - Interest 3137HBLV4 1.00 1,104.90 64,107.11 07/27/26 07/27/26 Purchase - Interest 3137HDV56 1.00 1,730.67 65,837.78 07/27/26 07/27/26 Purchase - Interest 3137HDXL9 1.00 1,873.99 67,711.77 07/27/26 07/27/26 Purchase - Interest 3137HKXJ8 1.00 698.25 68,410.02 07/27/26 07/27/26 Purchase - Principal 3137BTUM1 1.00 2,730.26 71,140.28 07/27/26 07/27/26 Purchase - Principal 3137HBC69 1.00 1,428.03 72,568.31 07/27/26 07/27/26 Purchase - Principal 3136BQDE6 1.00 12,838.79 85,407.10 07/27/26 07/27/26 Purchase - Principal 3137HACX2 1.00 1,099.98 86,507.08 PFM Asset Management, a division of Page 30
U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
07/27/26 07/27/26 Redemption - Reversal of Interest 3136BQDE6 from 07/25/2026 1.00 (1,752.08) 84,755.00 07/28/26 07/28/26 Purchase-Interest 3137HACX2 1.00 2,218.81 86,973.81 07/28/26 07/28/26 Purchase-Principal 3137HAD45 1.00 144,281.06 231,254.87 07/28/26 07/28/26 Purchase-Principal 3137BSP72 1.00 252,809.61 484,064.48 07/28/26 07/28/26 Purchase-Principal 3137BTUM1 1.00 2,730.25 486,794.73 07/28/26 07/28/26 Redemption-Interest 3137HACX2 1.00 (2,208.71) 484,586.02 07/28/26 07/28/26 Redemption-Principal 3137BTUM1 1.00 (2,730.26) 481,855.76 07/29/26 07/29/26 IP Fees June 2026 1.00 (4,200.52) 477,655.24 07/29/26 07/29/26 U.S. Bank Fees May 2026 1.00 (242.71) 477,412.53 07/31/26 07/31/26 Purchase - Interest 91282CMG3 1.00 201,875.00 679,287.53 07/31/26 08/03/26 Accrual Income Div Reinvestment - Distributions 1.00 294.49 679,582.02 PFM Asset Management, a division of Page 31
U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending July 31, 2026

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned 679,582.02
679,582.02
679,582.02
91,168.41
5,662.24

0.00 (21,239,224.70)
20,964,238.73
954,567.99
294.49
679,582.02

0.00 (566,005.30)
1,234,044.79
11,542.53
Monthly Distribution Yield
Average Monthly Balance
Closing Balance
Month of Fiscal YTD
Cash Dividends and Income
Closing Balance
Check Disbursements
Redemptions (Excl. Checks)
Purchases
Opening Balance
Closing Balance
July January-July

3.78%
PFM Asset Management, a division of Page 32
U.S. Bancorp Asset Management, Inc.

Investment Performance Review
For the Quarter Ended June 30, 2026
PFM Asset Management
A division of U.S. Bancorp Asset Management, Inc
213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
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

CITY OF LAKE ELSINORE
633 W 5th Street, 25th Floor
Los Angeles, CA 90071
213-356-2010
Market Update
Market Update
PFM Asset Management | pfmam.com 2
Current Market Themes
▸ U.S. growth remains resilient as AI-driven investment offsets a moderating consumer ▹ Headline inflation may be at or near its peak as the energy shock fades, though flare-ups in the Middle East conflict and potential delayed passthroughs to core inflation remain key risks ▹ The labor market is in balance, though real wage growth remains modest ▹ AI investment continues to drive growth while fueling inflation in tech-related categories ▸ The Federal Reserve (Fed) left policy rates unchanged at 3.50-3.75% ▹ New Fed Chair Kevin Warsh stressed restoring price stability ▹ Forward guidance was removed to refocus markets on economic fundamentals and incoming data rather than the Fed's policy response
▹ Nine participants projected a 2026 rate hike though Warsh did not submit projections ▸ Treasury yields moved higher on a more hawkish Fed
▹ Given current pricing of Fed rate hikes, we continue to find value in the front end ▹ Longer-term rates face two-sided risks from inflation and growth dynamics ▹ Credit spreads remain tight as resilient growth, stable labor conditions, and strong demand outweigh valuation concerns
Source: Details on market themes and economic indicators provided throughout the body of the presentation. Bloomberg Finance L.P., as of June 30, 2026.

For the Quarter Ended June 30, 2026
CITY OF LAKE ELSINORE Market Update
PFM Asset Management | pfmam.com 3
Source: Bloomberg Finance L.P. and Bureau of Labor Statistics. CPI as of May 2026. Market implied inflation expectations shown using 1-year and 5-year inflation swaps as of June 30, 2026.

For the Quarter Ended June 30, 2026
Market Update
Implications of the Energy Shock
▸ Higher energy costs lift headline inflation but the Fed remains attentive to broader passthroughs to core goods and services
▹ Oil prices ended the quarter near pre-conflict levels after peaking in April ▹ Headline inflation may be at or near peak as energy supply normalizes ▹ Fed remains focused on long-run inflation expectations

2.1%

2.4%
2%
3%
4%
Jun-25 Sep-25 Dec-25 Mar-26 Jun-26
Forward Inflation Expectations
June 30, 2025 to June 30, 2026
1-year 5-year
Energy prices push
headline CPI higher

4.2%

2.9%
0%
1%
2%
3%
4%
5%
May-25 Aug-25 Nov-25 Feb-26 May-26
Consumer Price Index
Year-over-Year Change
CPI Core CPI

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 4
3Q26

4.4% 4Q26

4.3%
2Q27
Jun ‘26 4.3%

4.2%

3.0%

3.5%

4.0%

4.5%

5.0%
Jun-23 Jun-24 Jun-25 Jun-26 Jun-27
Unemployment Rate
Mean Forecast
Actual
-2%
May-23
0%
The personal savings rate is near a
two-decade low at 3.0%
2%
4%
6%
8%
May-24 May-25 May-26
Real Spending & Income
Year-Over-Year Change
Real Personal Spending
Real Personal Income
For the Quarter Ended June 30, 2026
Market Update
Source: Bloomberg Finance L.P. and Bureau of Economic Analysis as of May 2026. Bureau of Labor Statistics as of June 2026. Survey responses after June 26, 2026, included in mean and forecast range. Shading represents the central 80% of the forecasts.

Labor Market Remains Balanced But Purchasing Power Erodes

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 5
Source: Bloomberg Finance L.P. and Bureau of Economic Analysis as of March 2026. Tech investment contains contributions to GDP from computers and peripheral equipment, information processing For the Quarter Ended June 30, 2026
Market Update
Technology Investment Offsets Moderating Consumption

2.9%

2.5%

4.7%

3.4%

0.8%

3.6%

3.3%

1.9%
-0.6%

3.8%

4.4%

0.5%

2.1%
-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%
1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Contribution to U.S. Real GDP
Tech Investment GDP Personal Consumption
contributed 0.4% to 1Q26 GDP,
the lowest amount since 2022

CITY OF LAKE ELSINORE
equipment, and software.

PFM Asset Management | pfmam.com 6
Sources: Bloomberg Finance L.P. as of June 30, 2026, Bureau of Economic Analysis as of March 31, 2026, and Department of Labor as of June 19, 2026. Survey responses after June 26, 2026, included Factors Shaping Our Economic Outlook
For the Quarter Ended June 30, 2026
Market Update
▸ Geopolitical uncertainty and
supply chain disruptions
▸ Savings rate near record low
▸ Increasing retail credit card
balances
▸ Fed policy uncertainty
▸ Core inflation passthrough from
energy shock modest thus far
▸ U.S. growth near trend but led
by AI investment
▸ Low layoffs and stable
unemployment rate
▸ Corporate fundamentals
▸ Supportive fiscal policy
Negative Neutral Positive
0 10
20 30
40 50
60 Mar-26 Apr-26 May-26 Jun-26
Hormuz Ship Traffic
Daily Volume

4.4%

0.5%

2.1%

2.5%

1.9%
0%
1%
2%
3%
4%
5%
Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26
U.S. GDP Forecasts
Range Actual Median Forecast
215
in median and forecast range. Shading represents the central 80% of the forecasts. 150
170
190
210
230
250
270
290
Jun-22 Jun-23 Jun-24 Jun-25 Jun-26
Initial Jobless Claims
Jobless claims remain
low and stable

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 7
For the Quarter Ended June 30, 2026
Market Update
Hawkish Lean Less Forward Guidance New Task Forces
▸ Fed voted unanimously to keep
rates unchanged
Source: Federal Reserve and Kevin Warsh as of June 17, 2026. ▸ New Chair Kevin Warsh
reaffirmed commitment to 2%
inflation target, noting the Fed has
“some work to do”
▸ Dot plot showed 9 of 18
participants projected at least one
hike in 2026
▸ Five task forces established with
initial findings expected by yearend
▸ Covers communications, balance
sheet, data, productivity and jobs,
and inflation framework
▸ 2% inflation target not in scope of
task forces
▸ Statement pared back and more
factual in nature
▸ No dot or projections submitted by
Warsh
▸ Chair Warsh argued markets
should focus on economic
fundamentals and incoming data
rather than anticipated policy
responses
New Fed Leadership and a Modified Approach

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 8
Source: Federal Reserve; Bloomberg Finance L.P. Individual dots represent each Fed member’s judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end. As of For the Quarter Ended June 30, 2026
Market Update
The Latest Fed “Dot Plot”
The Fed acknowledged inflation remained above the 2% target. However, it noted economic growth is expanding at a solid pace while the unemployment rate has remained little changed.

Fed Participants’Assessments of ‘Appropriate’ Monetary Policy 5%
0%
1%
2%
3%
4%
Jun-26 FOMC Projections
Mar-26 Median
Jun-26 Median
2026

3.8%
2027

3.6%
Longer Term

3.1%
June 17, 2026.
2028

3.4%

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 9

2.3%

2.0% 2.0%
0%
1%
2%
3%
4%
2026 2027 2028 Longer
Run
PCE Inflation
Mar Projections Jun Projections

3.6%

2.2% 2.3% 2.2%

2.0%
0%
1%
2%
3%
2026 2027 2028 Longer
Run
Change in Real GDP
Mar Projections Jun Projections
For the Quarter Ended June 30, 2026
Market Update

4.3% 4.3% 4.2% 4.2%
0%
2%
4%
6%
2026 2027 2028 Longer
Run
Unemployment Rate
Mar Projections Jun Projections

3.8% 3.6% 3.4% 3.1%
1%
0%
3%
2%
5%
4%
2026 2027 2028 Longer
Run
Federal Funds Rate
Mar Projections Jun Projections
Source: Federal Reserve, latest economic projections as of June 2026.

Fed’s Updated Summary of Economic Projections

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 10
For the Quarter Ended June 30, 2026
Market Update

3.50%

3.75%

4.00%

4.25%
Mar-26 Apr-26 May-26 Jun-26
2-Year Treasury Yield Moves Higher
2-Year U.S. Treasury Yield
March 31, 2026 – June 30, 2026
Apr 29th
Fed signals a long
pause given uncertainty
from the energy shock
Jun 17th
Fed meeting more
hawkish than expected
May 11-15th
CPI and PPI exceeded
expectations and provided
the first indication of the
impact of the energy shock
May 29th
Announcement of
tentative agreement
between U.S. & Iran
Source: Bloomberg Finance L.P., as of June 30, 2026.

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 11
For the Quarter Ended June 30, 2026
Market Update

4.00%

3.81%

4.17%

4.23%

4.34%

4.47%

4.96% 4.95%

3.00%

3.50%

4.50%

5.00%

5.50%
Yield
Maturity
Treasury Yields Rise Across the Curve
U.S. Treasury Yield Curve
1 Year Range
June 30, 2026
March 31, 2026
Source: Bloomberg Finance L.P., as of June 30, 2026.
3mo 2yr 5yr 7yr 10yr 20yr 30yr

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 12
Source: ICE BofA 1-5 year Indices via Bloomberg Finance L.P. as of June 30, 2026. Spreads on ABS and MBS are option-adjusted spreads based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.

For the Quarter Ended June 30, 2026
Market Update
100
80 60
40 20
0 -20 Federal
Agency
Agency
CMBS
Mortgage
Backed
AAA Auto
ABS
AAA Credit
Card ABS
AAA
Corp
AA
Corp
A
Corp
BBB
Corp
Sector Yield Spreads
1-5 Year Yield Spreads
2026 Range 6/30/2026 3/31/2026
CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index.

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 13
Fixed-Income Index Excess Returns
For the Quarter Ended June 30, 2026
Market Update

0.00%
-0.04%

0.17%

0.80%

0.18%

0.47% 0.46%

0.83%
-0.25%

0.00%

0.25%

0.50%

0.75%

1.00%
2Q26 1-Year
Federal Agency
Excess Returns
1-5 Year Indices
Agency CMBS ABS Corp A-AAA
Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. Agency CMBS represented by ICE BofA Agency CMBS Index. As of June 30, 2026.

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 14
For the Quarter Ended June 30, 2026
Market Update
Fixed-Income Index Total Returns in 2Q 2026
1-5 Year Indices

2.71%

2.99%

3.95%

3.65%

4.25%
0%
1%
2%
3%
4%
5%
U.S. Treasury
Agency
ABS
Corp
A-AAA
Corp BBB
1-Year Return

0.23%
Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. As of June 30, 2026.

0.33%

0.75% 0.71%

1.09%
0%
1%
2%
3%
4%
5%
U.S. Treasury
Agency
ABS
Corp
A-AAA
Corp BBB
Second Quarter 2026 Returns

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 15
2-Year Treasury Yield Remains Attractive
For the Quarter Ended June 30, 2026
Market Update

4.17%
0%
1%
2%
3%
4%
5%
6%
2016 2018 2020 2022 2024 2026
2-Year Treasury
2-Year Treasury Yield
10-Year Avg 20-Year Avg Fed Funds Upper Bound
Source: Bloomberg Finance L.P., as of June 30, 2026.

2.46%

1.88%

CITY OF LAKE ELSINORE
PFM Asset Management | pfmam.com 16
Portfolio Review
Portfolio Review
PFM Asset Management | pfmam.com 17

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
Portfolio Snapshot

1. Total market value includes accrued interest and balances invested in CAMP, as of June 30, 2026.

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.

Portfolio Snapshot – CAMP - LAKE ELSINORE CITY FUNDS¹
Credit Quality - S&P
15% 16%
32%
36%
1%
5%
35%
28%
21%
11%
10%
0%
30%
20%
40%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 47%
Corporate | 28%
Agency CMBS | 14%
ABS | 11%
Municipal | <1%
Joint Powers Authority | <1%
Sector Allocation
AAA| 9%
AAAm | <1%
AA+ | 63%
AA| 2%
AA- | 4%
A+ | 7%
A | 6%
A- | 3%
BBB+ | 2%
Not Rated | 4%
Portfolio Statistics
Total Market Value
Managed Account Sub-Total
Accrued Interest
Pool
Portfolio Effective Duration
Benchmark Effective Duration
Yield At Cost
Yield At Market
Portfolio Credit Quality
$57,697,486.12
$57,217,104.72
$468,838.87
$11,542.53

2.53 years

2.46 years

4.18%

4.31%
AA
PFM Asset Management | pfmam.com 18

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
Portfolio Summary
<1.0%

10.9%

27.5%
<1.0%

14.1%

47.1%

0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
Joint Powers Authority - $11,543
ABS - $6,273,869
Corporate - $15,883,397
Municipal - $204,101
Agency CMBS - $8,122,614
U.S. Treasury - $27,201,963
PortfolioAllocation Sector Limit for Analysis*
Sector Allocation Analytics
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest. *Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided.

PFM Asset Management | pfmam.com 19

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
Compliance
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").

Certificate of Compliance
During the reporting period for the quarter ended June 30, 2026, 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, a division of U.S. Bancorp Asset Management, Inc.

PFM Asset Management | pfmam.com 20

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
Portfolio Activity
Portfolio Activity – CAMP - LAKE ELSINORE CITY FUNDS
Net Activity by Sector
($ millions)
U.S. Treasury
ABS
Agency CMBS
Corporate
($10.0) ($5.0) $0.0 $10.0
Sales/Maturities
$5.0
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.

Sector Net Activity
Corporate $1,184,583
Agency CMBS $266,862
ABS $19,009
U.S. Treasury ($839,058)
Total Net Activity $631,396
PFM Asset Management | pfmam.com 21

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
Portfolio Characteristics
Historical Sector Allocation – CAMP - LAKE ELSINORE CITY FUNDS 49%
14%
26%
11%Mar-26
47%
14%
28%
11%Jun-26
Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM.

PFM Asset Management | pfmam.com 22

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
Portfolio Performance

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.

5.0%

4.0%

3.0%

2.0%

1.0%

0.0%
Return
Portfolio Performance
Portfolio Benchmark
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 Years¹ Interest Earned² $571,304 $2,107,832 $5,358,040 $6,437,388 $9,673,285 Change in Market Value ($356,285) ($350,970) $2,119,234 ($336,318) $258,238 Total Dollar Return $215,019 $1,756,862 $7,477,274 $6,101,070 $9,931,523 Total Return³
Portfolio 0.36% 3.10% 4.72% 1.85% 1.99%
Benchmark⁴ 0.23% 2.71% 4.30% 1.51% 1.64%
3 Months 1 Year 3 Years 5 Years 10 Years
Difference 0.13% 0.40% 0.41% 0.34% 0.35%
PFM Asset Management | pfmam.com 23

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
Portfolio Performance

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.

Accrual Basis Earnings – CAMP - LAKE ELSINORE CITY FUNDS Accrual Basis Earnings 3 Months 1 Year 3 Years 5 Year 10 Year¹ Interest Earned² $571,304 $2,107,832 $5,358,040 $6,437,388 $9,673,285 Realized Gains / (Losses)³ $47,746 $212,175 ($461,490) ($884,485) ($334,271) Change in Amortized Cost $25,050 $259,525 $1,004,402 $1,196,008 $1,138,536 Total Earnings $644,100 $2,579,532 $5,900,951 $6,748,912 $10,477,549 PFM Asset Management | pfmam.com 24

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
Portfolio Summary
Issuer Diversification
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.

Security Type / Issuer Market Value (%) S&P / Moody's / Fitch U.S. Treasury 47.2%
United States Treasury 47.2% AA / Aa / AA
Agency CMBS 14.1%
Federal Home Loan Mortgage Corp 12.5% AA / Aa / AA
Federal National Mortgage Association 1.6% AA / Aa / AA Municipal 0.4%
State of California 0.4% AA / Aa / AA
Corporate 27.5%
Adobe Inc 0.7% A / A / NR
Air Products and Chemicals Inc 0.6% A / A / NR
Amazon.com Inc 1.0% AA / A / AA
American Express Co 0.5% A / A / A
Analog Devices Inc 0.7% A / A / A
Apple Inc 1.3% AA / Aaa / NR
Bank of America Corp 1.0% A / A / AA
Bank of New York Mellon Corp 0.8% A / Aa / AA
Bayerische Motoren Werke AG 0.3% A / A / NR
Berkshire Hathaway Inc 0.8% AA / Aa / A
BlackRock Inc 1.4% AA / Aa / NR
Bristol-Myers Squibb Co 0.4% A / A / NR
Caterpillar Inc 0.4% A / A / A
Charles Schwab Corp 0.5% A / A / A
Cisco Systems Inc 0.7% AA / A / NR
Citigroup Inc 1.4% A / Aa / AA
Deere & Co 0.7% A / A / A
Goldman Sachs Group Inc 1.0% BBB / A / A
Home Depot Inc 0.7% A / A / A
Security Type / Issuer Market Value (%) S&P / Moody's / Fitch Corporate 27.5%
Honda Motor Co Ltd 0.7% BBB / A / A
JPMorgan Chase & Co 0.8% A / A / AA
Lockheed Martin Corp 0.1% A / A / A
Mars Inc 0.2% A / A / NR
Microsoft Corp 1.3% AAA / Aaa / NR
Morgan Stanley 0.9% A / Aa / AA
National Australia Bank Ltd 0.9% AA / Aa / NR
National Rural Utilities Cooperative Fi 0.6% A / A / A
Northern Trust Corp 1.0% A / A / A
Novartis AG 0.9% AA / Aa / NR
NVIDIA Corp 0.7% AA / Aa / NR
PACCAR Inc 0.7% A / A / NR
Shell PLC 1.0% A / Aa / AA
State Street Corp 0.4% A / Aa / AA
Target Corp 0.1% A / A / NR
Texas Instruments Inc 0.2% A / Aa / NR
TotalEnergies SE 1.0% A / Aa / NR
Toyota Motor Corp 0.7% A / A / A
Wells Fargo & Co 0.7% BBB / A / A
ABS 10.9%
American Express Co 1.6% AAA / NR / AAA
BA Credit Card Trust 1.6% AAA / Aaa / AAA
Bank of America Corp 0.1% NR / Aaa / AAA
Citigroup Inc 1.0% AAA / Aaa / NR
Fifth Third Auto Trust 0.2% AAA / Aaa / NR
Ford Credit Auto Owner Trust 0.5% AAA / NR / AAA
PFM Asset Management | pfmam.com 25

Security Type / Issuer Market Value (%) S&P / Moody's / Fitch ABS 10.9%
GM Financial Consumer Automobile Receiv 0.2% AAA / Aaa / NR Harley-Davidson Inc 0.0% NR / Aaa / AAA
Honda Auto Receivables Owner Trust 0.6% AAA / Aaa / AAA Hyundai Auto Receivables Trust 0.3% AAA / NR / AAA
JPMorgan Chase & Co 0.7% AAA / NR / AAA
Mercedes-Benz Auto Receivables Trust 1.6% AAA / Aaa / AAA Nissan Auto Receivables Owner Trust 0.0% AAA / Aaa / NR Porsche Innovative Lease Owner 0.2% AAA / NR / AAA
Toyota Auto Receivables Owner Trust 0.7% AAA / Aaa / AAA Verizon Master Trust 0.7% NR / Aaa / AAA
WF Card Issuance Trust 0.8% AAA / NR / AAA
Total 100.0%
PFM Asset Management | pfmam.com 26
Portfolio Transactions
Portfolio Transactions
PFM Asset Management | pfmam.com 27
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV) BUY
4/1/2026 4/7/2026 2,000,000.00 91282CNX5 US TREASURY N/B 3.62% 8/31/2030 1,982,330.16 3.94% 4/13/2026 4/20/2026 275,000.00 38141GE83 GOLDMAN SACHS GROUP INC (CALLABLE) 4.59% 4/20/2030 275,000.00 4.59% 4/14/2026 4/21/2026 230,000.00 89240QAD7 TAOT 2026-B A3 4.13% 12/16/2030 229,951.49 4.14% 4/14/2026 4/20/2026 300,000.00 38141GE83 GOLDMAN SACHS GROUP INC (CALLABLE) 4.59% 4/20/2030 300,324.00 4.56% 4/15/2026 4/23/2026 445,000.00 46647PFL5 JPMORGAN CHASE & CO (CALLABLE) 4.40% 4/23/2030 445,000.00 4.41% 5/1/2026 5/6/2026 3,000,000.00 91282CNX5 US TREASURY N/B 3.62% 8/31/2030 2,973,744.90 4.01% 5/7/2026 5/14/2026 515,000.00 05522RDL9 BACCT 2026-A1 A 4.22% 4/15/2031 514,948.19 4.22% 5/12/2026 5/20/2026 395,000.00 58769MAD2 MBART 2026-1 A3 4.36% 10/15/2030 394,913.97 4.37% 6/1/2026 6/4/2026 1,800,000.00 91282CNX5 US TREASURY N/B 3.62% 8/31/2030 1,776,662.37 4.21% 6/15/2026 6/18/2026 390,000.00 67066GAR5 NVIDIA CORP (CALLABLE) 4.50% 6/15/2031 389,259.00 4.54% 6/16/2026 6/23/2026 285,000.00 34536DAD5 FORDO 2026-B A3 4.39% 2/15/2031 284,990.03 4.39% 6/26/2026 6/29/2026 410,000.00 3136G5V64 FNA 2026-M11 2A2 4.25% 5/1/2031 406,358.41 4.53% 6/29/2026 6/30/2026 650,000.00 91282CNX5 US TREASURY N/B 3.62% 8/31/2030 644,963.82 4.15% Total BUY 10,695,000.00 10,618,446.34 0.00

INTEREST
4/1/2026 4/1/2026 808513BW4 CHARLES SCHWAB CORP (CALLABLE) 3.30% 4/1/2027 4,950.00 4/1/2026 4/25/2026 3136BQDE6 FNA 2023-M6 A2 4.17% 7/1/2028 1,760.08 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 28
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

INTEREST
4/1/2026 4/25/2026 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 1,463.52 4/1/2026 4/25/2026 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 999.97 4/1/2026 4/25/2026 3137HDXL9 FHMS K526 A2 4.54% 7/1/2029 1,873.99 4/1/2026 4/25/2026 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 1,730.67 4/1/2026 4/25/2026 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 1,975.00 4/1/2026 4/25/2026 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 1,104.90 4/1/2026 4/25/2026 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 1,515.63 4/1/2026 4/25/2026 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,704.90 4/1/2026 4/25/2026 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 1,477.67 4/1/2026 4/25/2026 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 1,486.38 4/1/2026 4/25/2026 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 760.35 4/1/2026 4/25/2026 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 1,215.96 4/1/2026 4/25/2026 3137HKXJ8 FHMS K539 A2 4.41% 1/1/2030 698.25 4/1/2026 4/25/2026 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 1,113.75 4/1/2026 4/25/2026 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 3,100.00 4/1/2026 4/25/2026 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 2,000.00 4/1/2026 4/25/2026 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,208.71 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 29
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

INTEREST
4/4/2026 4/4/2026 00724PAF6 ADOBE INC (CALLABLE) 4.80% 4/4/2029 9,000.00 4/15/2026 4/15/2026 05522RDK1 BACCT 2025-A1 A 4.31% 5/15/2030 897.92 4/15/2026 4/15/2026 448981AD2 HART 2026-A A3 3.79% 2/18/2031 521.12 4/15/2026 4/15/2026 437921AD1 HAROT 2025-2 A3 4.15% 10/15/2029 397.71 4/15/2026 4/15/2026 89240KAD0 TAOT 2026-A A3 3.86% 9/16/2030 450.33 4/15/2026 4/15/2026 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 52.45 4/15/2026 4/15/2026 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 1,741.50 4/15/2026 4/15/2026 02582JKH2 AMXCA 2024-1 A 5.23% 4/16/2029 2,157.37 4/15/2026 4/15/2026 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 734.18 4/15/2026 4/15/2026 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 206.37 4/15/2026 4/15/2026 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 1,786.92 4/15/2026 4/15/2026 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 771.08 4/15/2026 4/15/2026 92970QAJ4 WFCIT 2025-A1 A 4.34% 5/15/2030 1,754.08 4/15/2026 4/15/2026 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 1,804.83 4/15/2026 4/15/2026 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 747.00 4/15/2026 4/15/2026 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 126.12 4/15/2026 4/15/2026 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,437.92 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 30
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

INTEREST
4/15/2026 4/15/2026 58773DAD6 MBART 2025-1 A3 4.78% 12/17/2029 2,190.83 4/15/2026 4/15/2026 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 131.04 4/15/2026 4/15/2026 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 678.58 4/16/2026 4/16/2026 36265QAD8 GMCAR 2022-4 A3 4.82% 8/16/2027 31.07 4/16/2026 4/16/2026 362549AD9 GMCAR 2025-2 A3 4.28% 4/16/2030 321.00 4/18/2026 4/18/2026 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 548.82 4/20/2026 4/20/2026 73329KAD8 PILOT 2025-1A A3 4.61% 10/20/2028 384.17 4/20/2026 4/20/2026 05594BAD8 BAAT 2025-1A A3 4.35% 11/20/2029 290.00 4/20/2026 4/20/2026 92348KDY6 VZMT 2025-3 A1A 4.51% 3/20/2030 1,559.71 4/21/2026 4/21/2026 43815CAD0 HAROT 2026-1 A3 3.78% 9/23/2030 456.75 4/21/2026 4/21/2026 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 222.40 4/23/2026 4/23/2026 95000U3T8 WELLS FARGO & COMPANY (CALLABLE) 4.97% 4/23/2029 9,940.00 4/24/2026 4/24/2026 857477DB6 STATE STREET CORP (CALLABLE) 4.83% 4/24/2030 4,834.00 5/1/2026 5/25/2026 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 1,975.00 5/1/2026 5/25/2026 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 2,000.00 5/1/2026 5/25/2026 3136BQDE6 FNA 2023-M6 A2 4.17% 7/1/2028 1,752.37 5/1/2026 5/25/2026 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 760.35 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 31
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

INTEREST
5/1/2026 5/25/2026 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 1,515.63 5/1/2026 5/25/2026 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,702.88 5/1/2026 5/25/2026 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 1,477.67 5/1/2026 5/25/2026 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 3,100.00 5/1/2026 5/25/2026 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 1,486.38 5/1/2026 5/25/2026 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 1,104.90 5/1/2026 5/25/2026 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 997.82 5/1/2026 5/25/2026 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 1,113.75 5/1/2026 5/25/2026 3137HDXL9 FHMS K526 A2 4.54% 7/1/2029 1,873.99 5/1/2026 5/25/2026 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,208.71 5/1/2026 5/25/2026 3137HKXJ8 FHMS K539 A2 4.41% 1/1/2030 698.25 5/1/2026 5/25/2026 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 1,215.96 5/1/2026 5/25/2026 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 1,056.34 5/1/2026 5/25/2026 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 1,730.67 5/5/2026 5/5/2026 66989HAY4 NOVARTIS CAPITAL CORP (CALLABLE) 4.10% 11/5/2030 10,455.00 5/6/2026 5/6/2026 822905AN5 SHELL FINANCE US INC (CALLABLE) 4.12% 11/6/2030 11,859.38 5/8/2026 5/8/2026 69371RT71 PACCAR FINANCIAL CORP 4.55% 5/8/2030 9,100.00 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 32
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

INTEREST
5/9/2026 5/9/2026 06051GMT3 BANK OF AMERICA CORP (CALLABLE) 4.62% 5/9/2029 13,869.00 5/15/2026 5/15/2026 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 1,786.92 5/15/2026 5/15/2026 539830BZ1 LOCKHEED MARTIN CORP (CALLABLE) 4.45% 5/15/2028 1,335.00 5/15/2026 5/15/2026 448981AD2 HART 2026-A A3 3.79% 2/18/2031 521.12 5/15/2026 5/15/2026 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,437.92 5/15/2026 5/15/2026 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 94.04 5/15/2026 5/15/2026 437921AD1 HAROT 2025-2 A3 4.15% 10/15/2029 397.71 5/15/2026 5/15/2026 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 771.08 5/15/2026 5/15/2026 02582JKH2 AMXCA 2024-1 A 5.23% 4/16/2029 2,157.37 5/15/2026 5/15/2026 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 111.41 5/15/2026 5/15/2026 89240KAD0 TAOT 2026-A A3 3.86% 9/16/2030 450.33 5/15/2026 5/15/2026 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 1,741.50 5/15/2026 5/15/2026 92970QAJ4 WFCIT 2025-A1 A 4.34% 5/15/2030 1,754.08 5/15/2026 5/15/2026 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 33.58 5/15/2026 5/15/2026 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 678.58 5/15/2026 5/15/2026 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 1,804.83 5/15/2026 5/15/2026 58773DAD6 MBART 2025-1 A3 4.78% 12/17/2029 2,190.83 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 33
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

INTEREST
5/15/2026 5/15/2026 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 747.00 5/15/2026 5/15/2026 912828U24 US TREASURY N/B 2.00% 11/15/2026 750.00 5/15/2026 5/15/2026 05522RDK1 BACCT 2025-A1 A 4.31% 5/15/2030 897.92 5/15/2026 5/15/2026 89240QAD7 TAOT 2026-B A3 4.13% 12/16/2030 633.27 5/15/2026 5/15/2026 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 653.17 5/15/2026 5/15/2026 91324PEC2 UNITEDHEALTH GROUP INC (CALLABLE) 1.15% 5/15/2026 1,293.75 5/15/2026 5/15/2026 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 165.76 5/16/2026 5/16/2026 362549AD9 GMCAR 2025-2 A3 4.28% 4/16/2030 321.00 5/18/2026 5/18/2026 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 481.42 5/19/2026 5/19/2026 665859AY0 NORTHERN TRUST CORP 4.15% 11/19/2030 11,931.25 5/20/2026 5/20/2026 05594BAD8 BAAT 2025-1A A3 4.35% 11/20/2029 290.00 5/20/2026 5/20/2026 73329KAD8 PILOT 2025-1A A3 4.61% 10/20/2028 384.17 5/20/2026 5/20/2026 92348KDY6 VZMT 2025-3 A1A 4.51% 3/20/2030 1,559.71 5/20/2026 5/20/2026 023135CT1 AMAZON.COM INC (CALLABLE) 4.10% 11/20/2030 11,787.50 5/21/2026 5/21/2026 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 202.18 5/21/2026 5/21/2026 43815CAD0 HAROT 2026-1 A3 3.78% 9/23/2030 456.75 6/1/2026 6/25/2026 3137HDXL9 FHMS K526 A2 4.54% 7/1/2029 1,873.99 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 34
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

INTEREST
6/1/2026 6/25/2026 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 1,515.63 6/1/2026 6/25/2026 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 1,050.62 6/1/2026 6/25/2026 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 1,113.75 6/1/2026 6/25/2026 3136BQDE6 FNA 2023-M6 A2 4.17% 7/1/2028 1,759.79 6/1/2026 6/25/2026 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 1,975.00 6/1/2026 6/25/2026 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 3,100.00 6/1/2026 6/25/2026 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,208.71 6/1/2026 6/25/2026 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 2,000.00 6/1/2026 6/25/2026 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 1,104.90 6/1/2026 6/25/2026 3137HKXJ8 FHMS K539 A2 4.41% 1/1/2030 698.25 6/1/2026 6/25/2026 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,886.85 6/1/2026 6/25/2026 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 1,486.38 6/1/2026 6/25/2026 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 1,477.67 6/1/2026 6/25/2026 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 1,122.81 6/1/2026 6/25/2026 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 760.35 6/1/2026 6/25/2026 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 995.53 6/1/2026 6/25/2026 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 1,730.67 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 35
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

INTEREST
6/9/2026 6/9/2026 63254ABE7 NATIONAL AUSTRALIA BK/NY 3.90% 6/9/2027 9,762.50 6/15/2026 6/15/2026 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 16.63 6/15/2026 6/15/2026 02582JKH2 AMXCA 2024-1 A 5.23% 4/16/2029 2,157.37 6/15/2026 6/15/2026 437921AD1 HAROT 2025-2 A3 4.15% 10/15/2029 397.71 6/15/2026 6/15/2026 92970QAJ4 WFCIT 2025-A1 A 4.34% 5/15/2030 1,754.08 6/15/2026 6/15/2026 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 92.33 6/15/2026 6/15/2026 89240QAD7 TAOT 2026-B A3 4.13% 12/16/2030 791.58 6/15/2026 6/15/2026 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 129.54 6/15/2026 6/15/2026 05522RDK1 BACCT 2025-A1 A 4.31% 5/15/2030 897.92 6/15/2026 6/15/2026 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,437.92 6/15/2026 6/15/2026 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 1,741.50 6/15/2026 6/15/2026 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 64.34 6/15/2026 6/15/2026 05522RDL9 BACCT 2026-A1 A 4.22% 4/15/2031 1,871.45 6/15/2026 6/15/2026 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 747.00 6/15/2026 6/15/2026 448981AD2 HART 2026-A A3 3.79% 2/18/2031 521.12 6/15/2026 6/15/2026 032654BE4 ANALOG DEVICES INC (CALLABLE) 4.50% 6/15/2030 9,000.00 6/15/2026 6/15/2026 58769MAD2 MBART 2026-1 A3 4.36% 10/15/2030 1,195.97 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 36
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

INTEREST
6/15/2026 6/15/2026 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 1,786.92 6/15/2026 6/15/2026 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 582.91 6/15/2026 6/15/2026 89240KAD0 TAOT 2026-A A3 3.86% 9/16/2030 450.33 6/15/2026 6/15/2026 58773DAD6 MBART 2025-1 A3 4.78% 12/17/2029 2,190.83 6/16/2026 6/16/2026 362549AD9 GMCAR 2025-2 A3 4.28% 4/16/2030 321.00 6/18/2026 6/18/2026 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 419.71 6/20/2026 6/20/2026 92348KDY6 VZMT 2025-3 A1A 4.51% 3/20/2030 1,559.71 6/20/2026 6/20/2026 73329KAD8 PILOT 2025-1A A3 4.61% 10/20/2028 384.17 6/20/2026 6/20/2026 05594BAD8 BAAT 2025-1A A3 4.35% 11/20/2029 290.00 6/21/2026 6/21/2026 17305EHA6 CCCIT 2025-A1 A 4.30% 6/21/2030 11,825.00 6/21/2026 6/21/2026 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 183.15 6/21/2026 6/21/2026 43815CAD0 HAROT 2026-1 A3 3.78% 9/23/2030 456.75 6/25/2026 6/25/2026 437076DC3 HOME DEPOT INC (CALLABLE) 4.75% 6/25/2029 8,906.25 6/30/2026 6/30/2026 91282CEV9 US TREASURY N/B 3.25% 6/30/2029 176,718.75 Total INTEREST 0.00 468,705.54 0.00
For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 37
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

MATURITY
5/15/2026 5/15/2026 225,000.00 91324PEC2 UNITEDHEALTH GROUP INC (CALLABLE) 1.15% 5/15/2026 225,000.00 Total MATURITY 225,000.00 225,000.00 0.00

PAYDOWNS
4/1/2026 4/25/2026 37.38 3136BQDE6 FNA 2023-M6 A2 4.17% 7/1/2028 37.38 0.29 4/1/2026 4/25/2026 28,398.12 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 28,398.12 0.06 4/1/2026 4/25/2026 508.20 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 508.20 0.01 4/1/2026 4/25/2026 773.39 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 773.39 4.42 4/15/2026 4/15/2026 5,076.90 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 5,076.90 0.25 4/15/2026 4/15/2026 7,623.61 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 7,623.61 0.27 4/15/2026 4/15/2026 17,579.44 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 17,579.44 0.51 4/15/2026 4/15/2026 10,525.64 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 10,525.64 4/15/2026 4/15/2026 5,067.60 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 5,067.60 0.20 4/16/2026 4/16/2026 7,734.26 36265QAD8 GMCAR 2022-4 A3 4.82% 8/16/2027 7,734.26 0.35 4/18/2026 4/18/2026 14,949.14 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 14,949.14 1.26 4/21/2026 4/21/2026 4,280.55 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 4,280.55 0.37 5/1/2026 5/25/2026 613.99 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 613.99 0.01 5/1/2026 5/25/2026 1,412.86 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 1,412.86 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 38
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

PAYDOWNS
5/1/2026 5/25/2026 42,134.81 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 42,134.81 166.75 5/1/2026 5/25/2026 44.35 3136BQDE6 FNA 2023-M6 A2 4.17% 7/1/2028 44.35 0.34 5/1/2026 5/25/2026 819.01 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 819.01 4.08 5/15/2026 5/15/2026 7,056.87 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 7,056.87 0.23 5/15/2026 5/15/2026 170,000.00 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 170,000.00 15.67 5/15/2026 5/15/2026 4,560.91 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 4,560.91 0.20 5/15/2026 5/15/2026 15,244.54 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 15,244.54 0.43 5/15/2026 5/15/2026 190,000.00 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 190,000.00 6.85 5/15/2026 5/15/2026 9,389.10 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 9,389.10 5/15/2026 5/15/2026 4,923.77 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 4,923.77 0.18 5/15/2026 5/15/2026 490,000.00 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 490,000.00 45.17 5/18/2026 5/18/2026 13,689.16 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 13,689.16 1.10 5/21/2026 5/21/2026 4,026.40 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 4,026.40 0.34 6/1/2026 6/25/2026 37.75 3136BQDE6 FNA 2023-M6 A2 4.17% 7/1/2028 37.75 0.28 6/1/2026 6/25/2026 10,036.46 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 10,036.46 0.11 6/1/2026 6/25/2026 1,098.89 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 1,098.89 6/1/2026 6/25/2026 778.74 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 778.74 3.31 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 39
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)

PAYDOWNS
6/1/2026 6/25/2026 52,802.96 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 52,802.96 153.98 6/15/2026 6/15/2026 13,900.50 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 13,900.50 0.38 6/15/2026 6/15/2026 4,376.31 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 4,376.31 0.16 6/15/2026 6/15/2026 8,867.38 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 8,867.38 6/15/2026 6/15/2026 350,000.00 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 350,000.00 19.05 6/15/2026 6/15/2026 4,123.27 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 4,123.27 0.17 6/15/2026 6/15/2026 6,634.22 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 6,634.22 0.21 6/18/2026 6/18/2026 12,937.87 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 12,937.87 0.99 6/21/2026 6/21/2026 3,730.85 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 3,730.85 0.30 Total PAYDOWNS 1,525,795.20 1,525,795.20 428.28
SELL
4/1/2026 4/7/2026 1,200,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 1,209,526.76 9,585.65 4/1/2026 4/7/2026 600,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 604,763.39 4,179.53 4/14/2026 4/21/2026 225,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 227,428.99 1,856.41 4/14/2026 4/20/2026 500,000.00 91282CCH2 US TREASURY N/B 1.25% 6/30/2028 475,531.98 -2,636.45 4/15/2026 4/20/2026 475,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 480,097.21 3,941.75 5/1/2026 5/6/2026 1,375,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 1,387,361.23 15,194.58 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 40
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV) SELL
5/1/2026 5/6/2026 150,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 151,348.50 1,542.28 5/1/2026 5/6/2026 1,300,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 1,311,686.98 6,189.56 5/7/2026 5/14/2026 475,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 479,422.68 4,589.26 6/1/2026 6/4/2026 850,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 856,011.42 4,209.49 6/1/2026 6/4/2026 75,000.00 912828U24 US TREASURY N/B 2.00% 11/15/2026 74,501.44 -45.31 6/15/2026 6/18/2026 350,000.00 91282CEV9 US TREASURY N/B 3.25% 6/30/2029 346,697.15 -540.13 6/24/2026 6/25/2026 19,449.97 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 19,496.36 21.95 6/26/2026 6/29/2026 150,000.00 91282CEV9 US TREASURY N/B 3.25% 6/30/2029 148,884.97 -111.45 6/29/2026 6/30/2026 475,000.00 91282CEV9 US TREASURY N/B 3.25% 6/30/2029 463,496.09 -659.11 Total SELL 8,219,449.97 8,236,255.15 47,318.01
For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 41
Portfolio Holdings
Portfolio Holdings
PFM Asset Management | pfmam.com 42
CITY OF LAKE ELSINORE Portfolio Holdings
Managed Account Detail of Securities Held
Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value U.S. Treasury

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 600,000.00 AA+ Aa1 7/1/2025 7/3/2025 589,054.69 3.75 52.99 591,633.12 584,601.60

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 925,000.00 AA+ Aa1 8/1/2025 8/5/2025 902,236.33 3.94 81.69 907,208.82 901,260.80

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 3,900,000.00 AA+ Aa1 9/2/2025 9/5/2025 3,841,652.34 3.67 344.43 3,853,515.39 3,799,910.40

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 1,675,000.00 AA+ Aa1 3/3/2025 3/6/2025 1,621,347.66 4.06 147.93 1,636,790.72 1,632,012.80

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 900,000.00 AA+ Aa1 4/1/2025 4/4/2025 878,414.06 3.87 79.48 884,381.16 876,902.40

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 900,000.00 AA+ Aa1 6/2/2025 6/5/2025 875,566.41 3.98 79.48 881,626.37 876,902.40

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 1,500,000.00 AA+ Aa1 5/1/2025 5/6/2025 1,476,796.88 3.65 132.47 1,482,900.97 1,461,504.00

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 1,725,000.00 AA+ Aa1 3/13/2026 3/17/2026 1,752,290.04 3.81 30,580.63 1,750,371.05 1,728,774.30

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 900,000.00 AA+ Aa1 1/2/2026 1/7/2026 920,285.16 3.65 15,955.11 918,031.30 901,969.20

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 975,000.00 AA+ Aa1 10/1/2025 10/6/2025 997,242.19 3.67 17,284.70 993,699.95 977,133.30

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 300,000.00 AA+ Aa1 11/4/2025 11/7/2025 306,820.31 3.66 5,318.37 305,843.71 300,656.40

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 4,150,000.00 AA+ Aa1 3/2/2026 3/6/2026 4,253,101.56 3.56 73,570.79 4,245,105.20 4,159,080.20

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 1,450,000.00 AA+ Aa1 2/2/2026 2/5/2026 1,478,320.31 3.72 25,705.46 1,475,640.27 1,453,172.60

US TREASURY N/B
DTD 09/02/2025 3.625% 08/31/2030
91282CNX5 650,000.00 AA+ Aa1 6/29/2026 6/30/2026 637,152.34 4.15 7,875.51 637,161.06 635,908.00

US TREASURY N/B
DTD 09/02/2025 3.625% 08/31/2030
91282CNX5 3,000,000.00 AA+ Aa1 5/1/2026 5/6/2026 2,953,945.31 4.01 36,348.51 2,955,447.64 2,934,960.00 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 43

US TREASURY N/B
DTD 09/02/2025 3.625% 08/31/2030
91282CNX5 1,800,000.00 AA+ Aa1 6/1/2026 6/4/2026 1,759,640.63 4.21 21,809.10 1,760,279.22 1,760,976.00

US TREASURY N/B
DTD 09/02/2025 3.625% 08/31/2030
91282CNX5 2,000,000.00 AA+ Aa1 4/1/2026 4/7/2026 1,974,843.75 3.94 24,232.34 1,976,064.09 1,956,640.00 Security Type Sub-Total 27,350,000.00 27,218,709.97 3.82 259,598.99 27,255,700.04 26,942,364.40 Municipal
CA ST
DTD 03/15/2023 4.846% 03/01/2027
13063D3N6 200,000.00 AA- Aa2 3/9/2023 3/15/2023 200,000.00 4.85 3,230.67 200,000.00 200,870.40 Security Type Sub-Total 200,000.00 200,000.00 4.85 3,230.67 200,000.00 200,870.40 Joint Powers Authority
CAMP Pool 11,542.53 AAAm NR 11,542.53 0.00 11,542.53 11,542.53 Security Type Sub-Total 11,542.53 11,542.53 0.00 11,542.53 11,542.53 Corporate

BMW US CAPITAL LLC (CALLABLE)
DTD 08/12/2021 1.250% 08/12/2026
05565EBW4 175,000.00 A A2 8/12/2021 8/16/2021 174,947.50 1.26 844.62 174,998.80 174,383.12

CATERPILLAR FINL SERVICE
DTD 01/10/2022 1.700% 01/08/2027
14913R2U0 225,000.00 A A1 1/11/2022 1/13/2022 223,863.75 1.81 1,838.13 224,881.63 222,211.58

TARGET CORP (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 40,000.00 A A2 1/19/2022 1/24/2022 39,932.00 1.99 359.67 39,992.63 39,532.72

BANK OF NY MELLON CORP
(CALLABLE)
06406RBA4 475,000.00 A Aa3 1/26/2022 1/28/2022 473,945.50 2.10 4,192.53 474,879.77 469,290.98 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 AAA Aaa 3/14/2023 3/17/2023 721,942.50 4.36 9,968.75 745,688.09 746,052.75

AMERICAN EXPRESS CO (CALLABLE)
DTD 03/04/2022 2.550% 03/04/2027
025816CS6 300,000.00 A- A2 1/13/2023 1/18/2023 277,203.00 4.59 2,486.25 296,272.09 296,679.60 PFM Asset Management | pfmam.com 44
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Corporate

BERKSHIRE HATHAWAY FIN
(CALLABLE)
084664CZ2 475,000.00 AA Aa2 3/15/2022 3/17/2022 466,089.00 2.70 3,216.81 473,741.16 468,733.33 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 2,475.00 297,247.97 297,925.50 DTD 09/24/2021 3.300% 04/01/2027

NATIONAL AUSTRALIA BK/NY
DTD 06/09/2022 3.905% 06/09/2027
63254ABE7 500,000.00 AA- Aa2 1/13/2023 1/18/2023 488,325.00 4.50 1,193.19 497,504.02 497,966.50

APPLE INC (CALLABLE)
DTD 09/12/2017 2.900% 09/12/2027
037833DB3 775,000.00 AA+ Aaa 1/19/2023 1/23/2023 741,062.75 3.94 6,804.93 766,236.10 764,035.30

TOYOTA MOTOR CREDIT CORP
DTD 01/12/2023 4.625% 01/12/2028
89236TKQ7 375,000.00 A+ A1 2/8/2023 2/10/2023 376,282.50 4.55 8,141.93 375,398.79 376,801.88

NATIONAL RURAL UTIL COOP
(CALLABLE)
637432NP6 350,000.00 A- A1 2/17/2023 2/22/2023 329,189.00 4.76 4,760.00 343,284.52 344,031.45 DTD 02/07/2018 3.400% 02/07/2028

TEXAS INSTRUMENTS INC
(CALLABLE)
882508BV5 85,000.00 A+ Aa3 5/11/2023 5/18/2023 87,043.40 4.04 1,477.11 85,675.04 85,369.07 DTD 11/18/2022 4.600% 02/15/2028

BRISTOL-MYERS SQUIBB CO
(CALLABLE)
110122DE5 211,000.00 A A2 3/9/2023 3/13/2023 201,583.07 4.93 2,994.44 207,878.69 209,843.30 DTD 07/15/2020 3.900% 02/20/2028

LOCKHEED MARTIN CORP
(CALLABLE)
539830BZ1 60,000.00 A- A2 5/23/2023 5/25/2023 59,892.00 4.49 341.17 59,959.33 60,068.34 DTD 05/25/2023 4.450% 05/15/2028

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 375,000.00 A A1 7/21/2023 7/25/2023 377,865.00 4.78 8,610.94 376,173.87 379,647.75

MORGAN STANLEY BANK NA
(CALLABLE)
DTD 07/19/2024 4.968% 07/14/2028
61690U8E3 525,000.00 A+ Aa3 7/18/2024 7/19/2024 525,525.00 4.94 12,099.15 525,191.20 527,234.93

CITIBANK NA (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
17325FBB3 750,000.00 A+ Aa3 10/2/2023 10/4/2023 746,280.00 5.92 11,122.42 748,193.03 771,626.25

AIR PRODUCTS & CHEMICALS
(CALLABLE)
009158BH8 340,000.00 A A3 2/6/2024 2/8/2024 339,547.80 4.63 6,212.56 339,751.83 341,178.78 DTD 02/08/2024 4.600% 02/08/2029
For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 45
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Corporate

CISCO SYSTEMS INC (CALLABLE)
DTD 02/26/2024 4.850% 02/26/2029
17275RBR2 420,000.00 AA- A1 2/21/2024 2/26/2024 419,853.00 4.86 7,072.92 419,918.38 424,459.98

BLACKROCK FUNDING INC
(CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 725,000.00 AA- Aa3 3/6/2024 3/14/2024 725,355.25 4.69 10,127.85 725,203.80 732,194.90

BLACKROCK FUNDING INC
(CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 50,000.00 AA- Aa3 3/5/2024 3/14/2024 49,909.50 4.74 698.47 49,948.59 50,496.20

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 170,000.00 A+ A1 4/2/2024 4/4/2024 169,775.60 4.83 1,972.00 169,869.82 171,661.24

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 205,000.00 A+ A1 4/1/2024 4/4/2024 204,694.55 4.83 2,378.00 204,822.63 207,003.26

WELLS FARGO & COMPANY
(CALLABLE)
95000U3T8 290,000.00 BBB+ A1 4/15/2025 4/23/2025 290,000.00 4.97 2,722.46 290,000.00 291,414.91 DTD 04/23/2025 4.970% 04/23/2029

WELLS FARGO & COMPANY
(CALLABLE)
95000U3T8 110,000.00 BBB+ A1 4/16/2025 4/23/2025 110,088.00 4.95 1,032.66 110,054.77 110,536.69 DTD 04/23/2025 4.970% 04/23/2029

BANK OF AMERICA CORP
(CALLABLE)
06051GMT3 600,000.00 A- A1 5/6/2025 5/9/2025 600,000.00 4.62 4,006.60 600,000.00 599,710.80 DTD 05/09/2025 4.623% 05/09/2029

HOME DEPOT INC (CALLABLE)
DTD 06/25/2024 4.750% 06/25/2029
437076DC3 250,000.00 A A2 6/18/2024 6/25/2024 248,627.50 4.88 197.92 249,142.06 252,474.25

HOME DEPOT INC (CALLABLE)
DTD 06/25/2024 4.750% 06/25/2029
437076DC3 125,000.00 A A2 6/17/2024 6/25/2024 124,193.75 4.90 98.96 124,495.72 126,237.13

AMERICAN HONDA FINANCE
DTD 09/05/2024 4.400% 09/05/2029
02665WFQ9 400,000.00 BBB+ A3 9/3/2024 9/5/2024 399,520.00 4.43 5,671.11 399,683.22 395,794.00

MARS INC (CALLABLE)
DTD 03/12/2025 4.800% 03/01/2030
571676AY1 115,000.00 A A2 3/5/2025 3/12/2025 114,875.80 4.83 1,840.00 114,905.61 115,342.59

GOLDMAN SACHS GROUP INC
(CALLABLE)
38141GE83 275,000.00 BBB+ A2 4/13/2026 4/20/2026 275,000.00 4.59 2,491.61 275,000.00 273,447.90 DTD 04/20/2026 4.594% 04/20/2030

GOLDMAN SACHS GROUP INC
(CALLABLE)
38141GE83 300,000.00 BBB+ A2 4/14/2026 4/20/2026 300,324.00 4.56 2,718.12 300,304.48 298,306.80 DTD 04/20/2026 4.594% 04/20/2030
For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 46
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Corporate

JPMORGAN CHASE & CO
(CALLABLE)
46647PFL5 445,000.00 A A1 4/15/2026 4/23/2026 445,000.00 4.41 3,705.17 445,000.00 441,215.28 DTD 04/23/2026 4.408% 04/23/2030

STATE STREET CORP (CALLABLE)
DTD 04/24/2025 4.834% 04/24/2030
857477DB6 200,000.00 A Aa3 4/22/2025 4/24/2025 200,000.00 4.83 1,799.32 200,000.00 202,001.40

PACCAR FINANCIAL CORP
DTD 05/08/2025 4.550% 05/08/2030
69371RT71 400,000.00 A+ A1 5/5/2025 5/8/2025 399,380.00 4.59 2,679.44 399,510.81 402,536.80

ANALOG DEVICES INC (CALLABLE)
DTD 06/16/2025 4.500% 06/15/2030
032654BE4 400,000.00 A A2 6/12/2025 6/16/2025 399,648.00 4.52 800.00 399,716.08 399,025.20

NOVARTIS CAPITAL CORP
(CALLABLE)
DTD 11/05/2025 4.100% 11/05/2030
66989HAY4 510,000.00 AA- Aa3 11/3/2025 11/5/2025 508,470.00 4.17 3,252.67 508,655.17 501,052.56

SHELL FINANCE US INC (CALLABLE)
DTD 11/06/2025 4.125% 11/06/2030
822905AN5 450,000.00 A+ Aa2 11/4/2025 11/6/2025 449,136.00 4.17 2,835.94 449,239.78 441,868.50

SHELL FINANCE US INC (CALLABLE)
DTD 11/06/2025 4.125% 11/06/2030
822905AN5 125,000.00 A+ Aa2 11/3/2025 11/6/2025 124,520.00 4.21 787.76 124,577.59 122,741.25

NORTHERN TRUST CORP
DTD 11/19/2025 4.150% 11/19/2030
665859AY0 460,000.00 A+ A2 11/13/2025 11/19/2025 459,443.40 4.18 2,227.17 459,507.29 453,352.54

NORTHERN TRUST CORP
DTD 11/19/2025 4.150% 11/19/2030
665859AY0 115,000.00 A+ A2 11/12/2025 11/19/2025 114,943.65 4.16 556.79 114,950.25 113,338.14 AMAZON.COM INC (CALLABLE)
DTD 11/20/2025 4.100% 11/20/2030
023135CT1 575,000.00 AA A1 11/17/2025 11/20/2025 574,384.75 4.12 2,684.93 574,453.83 565,110.58

TOTALENERGI CAP USA LLC
(CALLABLE)
DTD 01/13/2026 4.248% 01/13/2031
89158TAA7 335,000.00 A+ Aa3 1/7/2026 1/13/2026 335,613.05 4.21 6,641.04 335,560.28 329,355.25

TOTALENERGI CAP USA LLC
(CALLABLE)
DTD 01/13/2026 4.248% 01/13/2031
89158TAA7 240,000.00 A+ Aa3 1/6/2026 1/13/2026 240,000.00 4.25 4,757.76 240,000.00 235,956.00

NVIDIA CORP (CALLABLE)
DTD 06/18/2026 4.500% 06/15/2031
67066GAR5 390,000.00 AA Aa1 6/15/2026 6/18/2026 389,259.00 4.54 633.75 389,265.04 388,619.40 Security Type Sub-Total 15,766,000.00 15,607,458.57 4.37 165,530.02 15,726,733.76 15,717,866.68 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 47
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Agency CMBS
FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
3137BSP72 455,062.23 AA+ Aa1 4/6/2023 4/12/2023 435,899.84 3.98 1,006.07 454,209.16 453,611.04 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
3137BTUM1 356,149.11 AA+ Aa1 5/19/2023 5/24/2023 345,186.40 4.29 993.36 354,897.22 354,527.92 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
3137BXQY1 550,000.00 AA+ Aa1 8/16/2023 8/18/2023 518,804.69 4.94 1,477.67 543,650.29 545,977.30 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 550,000.00 AA+ Aa1 6/8/2023 6/13/2023 527,033.20 4.42 1,486.38 545,149.25 545,052.75 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
3137HBC69 258,420.57 AA+ Aa1 12/6/2023 12/14/2023 258,418.50 4.86 1,046.17 258,420.10 259,423.76 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 417,119.63 AA+ Aa1 7/19/2023 7/27/2023 417,109.23 4.78 1,660.48 417,115.43 418,007.26 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 550,000.00 AA+ Aa1 7/13/2023 7/20/2023 555,493.40 4.59 2,208.71 552,209.74 552,459.05 FNA 2023-M6 A2
DTD 07/01/2023 4.172% 07/01/2028
3136BQDE6 503,959.39 AA+ Aa1 7/18/2023 7/31/2023 495,415.70 4.58 1,752.08 500,416.19 500,657.95 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 800,000.00 AA+ Aa1 9/7/2023 9/14/2023 788,165.60 4.99 3,100.00 794,474.05 801,533.60 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 500,000.00 AA+ Aa1 10/11/2023 10/19/2023 489,032.00 5.25 1,975.00 494,771.13 501,950.50 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 375,000.00 AA+ Aa1 10/25/2023 10/31/2023 363,043.88 5.60 1,515.63 369,032.00 377,091.38 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 500,000.00 AA+ Aa1 9/20/2023 9/28/2023 494,023.50 5.07 2,000.00 497,084.28 502,597.00 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 180,000.00 AA+ Aa1 11/14/2023 11/21/2023 179,479.62 5.14 760.35 179,738.10 181,922.22 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 275,000.00 AA+ Aa1 11/28/2023 12/7/2023 274,209.93 4.93 1,113.75 274,600.10 276,900.25 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 290,000.00 AA+ Aa1 2/1/2024 2/8/2024 292,899.71 4.34 1,104.90 291,557.53 290,008.12 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
3137HDV56 440,000.00 AA+ Aa1 7/16/2024 7/25/2024 442,702.04 4.58 1,730.67 441,723.30 442,180.64 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
3137HDXL9 495,000.00 AA+ Aa1 8/7/2024 8/15/2024 499,630.23 4.33 1,873.99 497,993.76 495,795.96 For the Quarter Ended June 30, 2026
PFM Asset Management | pfmam.com 48

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Trade
Date
Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Value
Agency CMBS
FHMS K539 A2
DTD 04/01/2025 4.410% 01/01/2030
3137HKXJ8 190,000.00 AA+ Aa1 4/15/2025 4/24/2025 189,993.35 4.41 698.25 189,994.97 189,687.26 FNA 2026-M11 2A2
DTD 05/01/2026 4.250% 05/01/2031
3136G5V64 410,000.00 AA+ Aa1 6/26/2026 6/29/2026 405,003.13 4.53 1,452.08 404,932.43 404,274.35 Security Type Sub-Total 8,095,710.92 7,971,543.95 4.72 28,955.54 8,061,969.03 8,093,658.31 ABS
NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
65480JAC4 349.82 AAA Aaa 9/20/2022 9/28/2022 349.75 4.46 0.69 349.81 349.90 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
891940AC2 24,705.47 AAA NR 1/24/2023 1/30/2023 24,705.46 4.63 50.84 24,705.47 24,725.83 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
41285JAD0 8,655.59 NR Aaa 2/13/2023 2/23/2023 8,654.71 5.05 19.43 8,655.32 8,661.12 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 80,157.80 AAA NR 8/15/2023 8/22/2023 80,141.27 5.42 156.60 80,151.79 80,496.78 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
438123AC5 35,031.99 NR Aaa 11/1/2023 11/8/2023 35,025.82 5.67 55.18 35,029.19 35,247.44 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 112,590.68 AAA Aaa 8/15/2023 8/23/2023 112,583.70 5.53 276.72 112,587.71 113,077.53 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 405,000.00 AAA NR 9/7/2023 9/15/2023 404,887.73 5.17 928.80 404,946.92 406,020.20 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 410,000.00 AAA NR 9/12/2023 9/19/2023 409,981.67 5.23 953.02 409,991.48 411,148.82 PILOT 2025-1A A3
DTD 05/21/2025 4.610% 10/20/2028
73329KAD8 100,000.00 AAA NR 5/14/2025 5/21/2025 99,989.29 4.61 140.86 99,992.80 100,284.80 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 180,000.00 NR Aaa 12/7/2023 12/14/2023 179,975.83 4.98 398.40 179,987.94 180,575.46 AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
02582JKH2 495,000.00 AAA NR 4/16/2024 4/23/2024 494,898.53 5.23 1,150.60 494,898.53 499,072.86 HAROT 2025-2 A3
DTD 05/08/2025 4.150% 10/15/2029
437921AD1 115,000.00 NR Aaa 4/29/2025 5/8/2025 114,987.15 4.15 212.11 114,990.47 114,746.89 BAAT 2025-1A A3
DTD 05/12/2025 4.350% 11/20/2029
05594BAD8 80,000.00 NR Aaa 5/6/2025 5/12/2025 79,994.48 4.35 106.33 79,995.98 80,038.32 PFM Asset Management | pfmam.com 49

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Trade
Date
Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Value
ABS
MBART 2025-1 A3
DTD 01/23/2025 4.780% 12/17/2029
58773DAD6 550,000.00 NR Aaa 4/8/2025 4/9/2025 553,673.83 4.62 1,168.44 552,788.58 552,410.10 VZMT 2025-3 A1A
DTD 03/31/2025 4.510% 03/20/2030
92348KDY6 415,000.00 NR Aaa 3/25/2025 3/31/2025 414,982.16 4.51 571.89 414,987.23 415,703.43 GMCAR 2025-2 A3
DTD 05/14/2025 4.280% 04/16/2030
362549AD9 90,000.00 AAA Aaa 5/6/2025 5/14/2025 89,986.75 4.28 160.50 89,989.62 90,011.25 WFCIT 2025-A1 A
DTD 06/10/2025 4.340% 05/15/2030
92970QAJ4 485,000.00 AAA NR 6/3/2025 6/10/2025 484,991.95 4.34 935.51 484,994.82 485,150.35 BACCT 2025-A1 A
DTD 06/12/2025 4.310% 05/15/2030
05522RDK1 250,000.00 AAA NR 6/5/2025 6/12/2025 249,999.05 4.31 478.89 250,000.00 249,906.75 CCCIT 2025-A1 A
DTD 06/26/2025 4.300% 06/21/2030
17305EHA6 550,000.00 AAA Aaa 6/18/2025 6/26/2025 549,850.79 4.31 656.94 549,878.70 549,070.50 TAOT 2026-A A3
DTD 01/21/2026 3.860% 09/16/2030
89240KAD0 140,000.00 AAA Aaa 1/13/2026 1/21/2026 139,988.07 3.86 240.18 139,989.14 138,655.58 HAROT 2026-1 A3
DTD 02/18/2026 3.780% 09/23/2030
43815CAD0 145,000.00 NR Aaa 2/10/2026 2/18/2026 144,976.90 3.78 152.25 144,979.07 143,304.51 MBART 2026-1 A3
DTD 05/20/2026 4.360% 10/15/2030
58769MAD2 395,000.00 AAA NR 5/12/2026 5/20/2026 394,913.97 4.37 765.42 394,916.71 394,257.80 TAOT 2026-B A3
DTD 04/21/2026 4.130% 12/16/2030
89240QAD7 230,000.00 AAA Aaa 4/14/2026 4/21/2026 229,951.49 4.14 422.18 229,954.18 228,658.64 FORDO 2026-B A3
DTD 06/23/2026 4.390% 02/15/2031
34536DAD5 285,000.00 AAA NR 6/16/2026 6/23/2026 284,990.03 4.39 278.03 284,990.48 284,802.21 HART 2026-A A3
DTD 02/18/2026 3.790% 02/18/2031
448981AD2 165,000.00 AAA NR 2/10/2026 2/18/2026 164,988.86 3.79 277.93 164,990.20 162,808.47 BACCT 2026-A1 A
DTD 05/14/2026 4.220% 04/15/2031
05522RDL9 515,000.00 NR Aaa 5/7/2026 5/14/2026 514,948.19 4.22 965.91 514,950.95 513,159.39 Security Type Sub-Total 6,261,491.35 6,264,417.43 4.57 11,523.65 6,263,693.09 6,262,344.93 Managed Account Sub Total 57,673,202.27 57,262,129.92 4.18 468,838.87 57,508,095.92 57,217,104.72 Securities Sub Total $57,684,744.80 $57,273,672.45 4.18% $468,838.87 $57,519,638.45 $57,228,647.25 Accrued Interest $468,838.87
Total Investments $57,697,486.12
PFM Asset Management | pfmam.com 50

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
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.

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.

PFM Asset Management serves clients in the public sector and is a division of U.S. Bancorp Asset Management, Inc., which is the legal entity providing investment advisory services. U.S. Bancorp Asset Management, Inc. is a registered investment adviser, a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S.

Bancorp. U.S. Bank N.A. is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Asset Management, Inc. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.

For more information regarding PFMAM's services or entities, please visit www.pfmam.com.

Further distribution is not permitted without prior written consent.

PFM Asset Management | pfmam.com 51

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
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 Statement, which should be read carefully before investing. A copy of the Trust’s Information Statement may be obtained 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 U.S. Bancorp Investments, Inc., member FINRA (www.finra.org) and SIPC (www.sipc.org). PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc., which serves as administrator and investment adviser to the Trust. U.S. Bancorp Asset Management, Inc. is a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S. Bancorp. U.S. Bancorp Investments, Inc. is a subsidiary of U.S. Bancorp and affiliate of U.S. Bank N.A.

Generally, PFMAM’s market prices are derived from closing bid prices as of the last business day of the month as supplied by ICE Data Services. There may be differences in the values shown for investments due to accrued but uncollected income and the use of differing valuation sources and methods. Non-negotiable FDIC-insured bank certificates of deposit are priced at par. Although PFMAM believes the prices to be reliable, the values of the securities may not represent the prices at which the securities could have been bought or sold. Explanation of the valuation methods for a registered investment company or local government investment program is contained in the appropriate fund offering documentation or information statement.

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.

ICE Bank of America 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.

PFM Asset Management | pfmam.com 52

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
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.

PFM Asset Management | pfmam.com 53

CITY OF LAKE ELSINORE
For the Quarter Ended June 30, 2026
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.

PFM Asset Management | pfmam.com 54

Page 1 of 4 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Date: August 25, 2026
Subject: Acquisition of Environmental Mitigation Property Recommendation
Approve the Purchase and Sale Agreement With B-Max Mitigation Property, LLC; Lake Elsinore Mitigation Site LLC; John J. Johnson Revocable Living Trust Dated August 9, 2017; and Hushmand Taghdiri Trust Dated February 20, 1998, For the Acquisition of Approximately 44.69 Acres of Real Property (APNs 371-090-022, -003, -004; 371-150-010; and 371-160-007) located on the Lake Elsinore Shoreline for Environmental Mitigation Purposes for a Purchase Price of $12,265,000 plus ancillary closing costs and authorize the City Manager to execute the Agreement and such other ancillary documents as may be necessary to complete the purchase.

Background
The Property consists of approximately 44.69 acres of wetland and upland habitats that provide significant ecological and regulatory value to public agencies and developers undertaking infrastructure and development projects within the Western Riverside County region.

The Property is identified by Assessor Parcel Numbers 371-090-022, -003, -004, 371-150-010, and 371-160-007. Current owners are B-Max Mitigation Property, LLC; Lake Elsinore Mitigation Site LLC; John J. Johnson Trustee of the John J. Johnson Revocable Living Trust Dated August 9, 2017; and Hushmand Taghdiri Trust Dated February 20, 1998 (collectively, "Sellers").

Acquisition of Environmental Mitigation Property

Page 2 of 4 ends

The Sellers assembled the Property, studied the Property’s habitat and baseline biological values, prepared numerous reports and draft prospectus submitted to federal, state and regional environmental resource agencies, studied methods and prepared plans for environmental enhancement and uplift, cleared invasive species and removed trash and debris for the purpose of creating an environmental restoration project designed to offset unavoidable ecological impacts to (a) waters of the United States required by the United States Army Corps of Engineers pursuant to the Clean Water Act Section 404 and (b) rivers, streams and lakes required by California Department of Fish and Wildlife and Regional Water Quality Control Boards by restoring and protecting local wetlands, riparian woodlands, Waters of the State, and species’ habitat.

City staff has engaged in discussions with the Sellers and their environmental consultant since January 2026 regarding the strategic value of the Property to the City and have studied the reports and data submitted by the Sellers. The Sellers presented information regarding the Property and potential mitigation strategies during a noticed public meeting conducted July 24, 2026. The City Council met several times in Closed Session to discuss price and terms of payment and, on August 11, 2026, directed staff to bring forward the Purchase and Sale Agreement.

Discussion
Purchase and Sale Agreement - Key Terms
Term Detail
Purchase Price $12,265,000
Property Size Approximately 44.69 acres
APNs 371-090-022, -003, -004; 371-150-010; 371-160-007
Effective Date Upon execution of the Parties
Inspection Deadline August 26, 2026, unless extended
Contingency Removal
Date
August 26, 2026, unless extended
Anticipated Closing Date August 27, 2026, unless extended Deposit $1,000,000
Closing Costs Sellers pay: CLTA title insurance premium and one-half (1/2) of escrow fees.

City pays: ALTA endorsements, one-half (1/2) of escrow
fees, deed recordation fees, transfer taxes, and all
inspection/due diligence costs.

No Real Estate Brokers’
Commissions Purchase and Sale Agreement negotiated directly between City and Sellers
Acquisition of Environmental Mitigation Property

Page 3 of 4 ends

Escrow/Title Stewart Title Company, 7676 Hazard Center Dr., Suite 1400, San Diego, CA 92108
CEQA Determination Categorically Exempt per Government Code Sections 15317 and/or 15325
City Obligations Upon Acquisition
Obligation Timeframe Description
Identification of
projects with
compatible
mitigation
requirements
Ongoing until the
Property is fully
encumbered with
conservation
easements and
funded with
endowments
consistent with
permit
requirements
Identify portions of the Property with suitable
biological values to offset project impacts,
prepare Conservation Easements and
Habitat Mitigation and Monitoring Plans and
fund endowments for long-term
management to meet permit requirements
Biological
Monitoring
Annual - 5-year
monitoring period
Annual biological monitoring reports as
required under the HMMPs and applicable
resource agency permits
Invasive
Species Control
Ongoing Active management of tamarisk and other
invasive vegetation on the Property
Native
Revegetation
Ongoing Maintenance of native plant communities,
supplemental irrigation, and replanting as
needed to meet success criteria
Tribal
Coordination
Prior to any
ground
disturbance
AB 52 consultation with Pechanga Band of
Luiseno Indians required for any future
grading or ground-disturbing activities
Permit
Compliance
Ongoing Maintenance of all CDFW, USACE, and
RWQCB permits associated with the
mitigation property
Strategic Value to the City
Regional mitigation credit prices have increased substantially in recent years, with Mitigation Banks in the region now commanding in excess of $1,000,000 per acre.

Acquisition of the Property offers the following strategic benefits to the City of Lake Elsinore:
 Eliminates the need for the City to purchase mitigation credits from third-party banks at market rates currently exceeding $1,000,000 per acre, providing significant cost avoidance on current and future City projects.

Acquisition of Environmental Mitigation Property

Page 4 of 4 ends

 Satisfies or offsets mitigation obligations for projects such as interchanges, bridges, road widening or road improvement projects and other development in the City.
 Positions the City to potentially generate revenue by selling surplus credits to third-party developers upon completion of BEI banking instrument approval.  Protects ecologically sensitive shoreline from private equity acquisition and ensures continued conservation in alignment with City general plan and RCA/MSHCP obligations.
 No broker commissions are payable by either party, reducing transaction costs.

Environmental Review (CEQA)
Acquisition of the Property is categorically exempt from the California Environmental Quality Act (CEQA) pursuant to State CEQA Guidelines Sections 15317 (Acceptance of Irrevocable Offers to Dedicate Land for Conservation Purposes) and/or 15325 (Transfers of Ownership of Interests in Land to Preserve Existing Natural Conditions). A Notice of Exemption will be filed with the Riverside County Clerk upon City Council approval of the Purchase and sale Agreement.

Fiscal Impact
The total acquisition cost is $12,265,000, will be funded through a combination of existing City funds composed of the following:
• Measure Z Fund $ 6,265,000
• Capital Projects Fund $ 6,000,000
Total $12,265,000
The City’s investment provides for the potential of future cost-savings to meet mitigation obligations of City projects and mitigation fees paid by developers pursuant to development agreements or other mitigation land agreements. Ongoing operational costs associated with the enhancement, conservation easements, biological monitoring, endowments and property management will be paid from available General Funds and as part of the project costs through CIP Funds or developer mitigation fees.

Attachments
Attachment 1 – Purchase and Sale Agreement - Mitigation Property (dated August 18, 2026)

PURCHASE AND SALE AGREEMENT

BASIC TERMS
Sellers: B-Max Mitigation Property, LLC; Lake Elsinore Mitigation Site LLC; John J. Johnson Trustee of the John J. Johnson Revocable Living Trust Dated August 9, 2017, and Hushmand Taghdiri Trust Dated February 20, 1998
Notice Address:

B-Max Mitigation Property, LLC
Address:1207 N East Anaheim St
Anaheim, CA 92805
Attn: Guy Selleck
Email Address: [email protected]
And to:

Lake Elsinore Mitigation Site LLC
Address:20 Paseo Verde
San Clemente, CA 92673
Attn: Steve Galvez
Email Address: [email protected]
And to:

John J. Johnson Trustee of the John J. Johnson
Revocable Living Trust Dated August 9, 2017
Address:30137 Mira Loma Drive
Temecula, CA 92592
Attn: John Johnson,
Email Address:[email protected]
And to:

Hoe K Motes, Successor Trustee of The Hushmand
Taghdiri Trust Dated February 20, 1998
Address: 3112 Bostonian Dr
Los Alamitos, CA 90720
Attn: Hoe Kum Motes, Successor Trustee
Email Address: [email protected]
Sellers Representative:

Name: Steve Galvez
Address: 20 Paseo Verde
San Clemente, CA 92673
Email Address:[email protected]
Buyer: City of Lake Elsinore, a California municipal corporation Notice Address:

City of Lake Elsinore
130 South Main Street
Lake Elsinore, CA 92530
Attention: Jason Simpson, City Manager
Copy to:

Leibold McClendon & Mann
9841 Irvine Center Drive, Ste. 230
Irvine, CA 92618
Attention: Barbara Leibold
Escrow Holder:

Stewart Title Company
7676 Hazard Center Dr., Suite 1400
San Diego, California 92108
Attention:

Title Company:

Stewart Title Company
7676 Hazard Center Dr., Suite 1400
San Diego, California 92108
Attention:

Purchase Price: Twelve Million Two Hundred Sixty-Five Thousand Dollars ($12,265,000) Deposit: One Million Dollars ($1,000,000)
Inspection Deadline: 5:00 p.m. Pacific Time on August 26, 2026 Contingency Removal
Date: 5:00 p.m. Pacific Time on August 26, 2026.

Closing Date: August 27, 2026, or such earlier or later date as mutually agreed upon in writing by Buyer and Sellers.
2 PURCHASE AND SALE AGREEMENT
THIS PURCHASE AND SALE AGREEMENT (this “Agreement”), dated for reference as of August 18, 2026, is made and entered into by and between Buyer and Sellers to be effective on the latest date of execution shown on the signature page hereto (the “Effective Date”).

R E C I T A L S
A. Sellers are the owners of the approximately 44.69 acres of land located in the City of Lake Elsinore and the County of Riverside, State of California, and further identified by the following Assessor’s Parcel Numbers (APNs) 371-090-022, -003, -004, 371-150-010 and 371-160-007 as more particularly described on Exhibit ”A”.

B. The Property (as defined below) is a proposed environmental restoration project designed to offset unavoidable ecological impacts to (a) waters of the United States required by the United States Army Corps of Engineers pursuant to the Clean Water Act Section 404 and (b) rivers, streams and lakes required by California Department of Fish and Wildlife and Regional Water Quality Control Boards by restoring and protecting local wetlands, riparian woodlands, Waters of the State, and species’ habitat.

C. Sellers have worked diligently for many years to assemble the Property and study the Property’s habitat and baseline biological values, prepare numerous reports and draft prospectus submitted to federal, state and regional environmental resource agencies, studied methods and prepared plans for environmental enhancement and uplift, cleared invasive species and removed trash and debris pursuant to a Streambed Alteration Agreement issued by the California Department of Fish and Wildlife.

D. Sellers and Buyer have engaged in good faith negotiations for several months and Buyer’s City Council has met in Closed Session with the Buyer’s negotiator to discuss price and terms of payment in accordance with Government Code Section 54956.8.

E. In a noticed public meeting conducted July 24, 2026, Sellers’ representatives presented Buyer’s City Council and members of the public information regarding the Property and potential mitigation strategies in furtherance of the purposes set forth in Recital B.

F. On August 11, 2026, during its closed session meeting, Buyer’s City Council agreed to the Purchase Price (as defined above) and authorized and directed the City Manager to complete this Agreement and take all actions necessary to purchase the Property on the terms and conditions set forth herein.

G. This Agreement will be presented on the August 25, 2026 Regular City Council Meeting Agenda for open session discussion and approval.

NOW, THEREFORE, in consideration of the mutual undertakings of the parties hereto and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed as follows:

1. Incorporation of Recitals and Basic Terms. The above Recitals constitute part of this Agreement and each party shall be entitled to rely on the truth and accuracy of same. The terms set forth above in the Recitals and Basic Terms are hereby incorporated. 3 2. Purchase and Sale; Property Restrictions.

2.1. Agreement to Purchase and Sell. Upon the terms and conditions hereinafter set forth, Sellers shall sell to Buyer, and Buyer shall purchase from Sellers, the Property. As used herein, the “Property” means collectively, all right, title and interest of Sellers in and to (a) the land described in Exhibit ”A” attached hereto (the “Land”), (b) the rights appurtenant to the Land, except as otherwise expressly contemplated herein, and (c) the building(s) and other permanent improvements and structures located upon the Land, if any. The Property also includes all Property Documents as defined in Section

3.2 hereinbelow and all intangible property related to the real property, including all of Sellers ’right, title and interest in and to all permits, licenses, approvals, entitlements and other governmental authorizations, water rights and reservations related to the real property, or any part thereof.

2.2. Contingency. Buyer may terminate its purchase obligation for any reason or no reason by notifying Sellers of such termination (“Termination Notice”) not later than 4:00 p.m. Pacific Time on or before the Contingency Removal Date. Notwithstanding the provisions of Section 14.5, Buyer may deliver the Termination Notice via electronic mail to the Sellers Representative, which shall be effective to terminate Buyer's purchase obligation if timely delivered. Upon receipt of a copy of a timely delivered Termination Notice, neither party shall have any further rights or liabilities hereunder except for the Surviving Rights.

2.3. Failure to Terminate. If Buyer fails to terminate its purchase obligation as provided in Section 2.2 above, then Sellers shall be obligated to sell and Buyer shall be obligated to purchase the Property on the terms set forth herein. Buyer's failure to terminate as set forth in this Section 2.3 will not waive any other termination rights of Buyer set forth herein, including without limitation those set forth in Section 4 et al. of this Agreement.

3. Purchase Price.

3.1. Escrow Deposit. Within two (2) business days after the Effective Date, Buyer and Sellers shall open an Escrow (as defined below) with Escrow Holder and Buyer shall deliver to Escrow Holder, by wire transfer of immediately available federal funds or by bank or cashier’s check drawn on a national bank, the Deposit. The Deposit together with all interest earned thereon while being held by Escrow Holder, shall collectively be referred to herein as the “Escrow Deposit”. Upon disbursement of the Escrow Deposit to Sellers as provided herein, the Escrow Deposit shall be immediately non-refundable to Buyer, except as expressly stated herein to the contrary. The Escrow Deposit shall be applied against the Purchase Price at Closing in accordance with the terms and provisions of this Agreement. Notwithstanding anything herein to the contrary, the parties acknowledge that Two Hundred and No/100 Dollars ($200.00) of the Deposit shall be retained by Sellers as independent consideration for Sellers entering into this Agreement and the rights and privileges extended to Buyer as provided herein.

3.2. Disbursement of Escrow Deposit. Within two (2) business days after the Effective Date, Sellers shall deliver to Buyer at Sellers ’expense, all digital, photographic and written copies of all documents in Seller's possession with respect to the Property, including without limitation, biological, geological, hydrological, soils, engineering and any other scientific or technical studies, inventories and reports, copies of any citations or correspondence from or with any local, state, or federal authorities regarding the Property, catalogs or other written record or documentation of all work conducted on the Property during Sellers ’ownership, all deeds, title policies, surveys, appraisals, plans and specifications for any improvements, environmental reports and data, copies of all lease agreements, licenses, easements, maintenance contracts, service agreements, and other contracts of any nature that pertain to, cover, or affect the Property or any part of it by their terms may continue beyond the Closing Date, and copies of all permits and any applications therefor (collectively, the "Property Documents"). Upon Sellers ’delivery and 4 Buyer’s acceptance, which acceptance shall not be unreasonably withheld, of all Property Documents and in consideration therefor, Escrow Holder shall release the Escrow Deposit to Sellers.

3.3. Closing Payment. The Purchase Price, as adjusted by the application of the Escrow Deposit and by the prorations and credits specified herein, shall be paid by wire transfer of immediately available federal funds through the Escrow as of the Closing (the amount to be paid under this Section being herein called the “Closing Payment”).

4. Additional Contingencies and Conditions Precedent to Closing. In the event that Buyer does not elect to exercise its right to terminate pursuant to Section 2.2, the obligation of Buyer to acquire, and Sellers to sell, the Property as contemplated by this Agreement is further subject to satisfaction of each of the following contingencies and conditions precedent (which may be waived in writing by the party in whose favor such condition exists) on or before the applicable date specified for satisfaction of the applicable condition. Subject to the terms and conditions set forth below, if any of such conditions is not fulfilled (or waived) pursuant to the terms of this Agreement, then this Agreement may be terminated by delivery of written notice by the party in whose favor such condition exists on or before the applicable date specified for such condition and, in connection with any such termination made in accordance with this Section, Sellers and Buyer shall be released from further obligation or liability hereunder (except for those obligations and liabilities which expressly survive such termination and except for Escrow Holder’s and the Title Company’s cancellation fees. The Closing shall constitute approval by each party of all matters to which such party has a right of approval and a waiver of all conditions precedent.

4.1. City Council Approval. As a condition precedent for Buyer’s benefit, approval of this Agreement by the Lake Elsinore City Council in a noticed public meeting, shall have been obtained prior to the Closing.

4.2. Performance by Sellers. The performance and observance, in all material respects, by Sellers of all covenants in this Agreement to be performed or observed by Sellers prior to or on the Closing Date shall be a condition precedent to Buyer’s obligation to purchase the Property pursuant to this Agreement. Additionally, as a condition to Buyer’s obligation to close, all of Sellers ’representations and warranties stated herein shall be true and correct in all material respects as of the Closing Date.

4.3. Performance by Buyer. The performance and observance, in all material respects, by Buyer of all covenants in this Agreement to be performed or observed by Buyer prior to or on the Closing Date shall be a condition precedent to Sellers ’obligation to sell the Property pursuant to this Agreement.

Additionally, as a condition to Sellers ’obligation to close, all of Buyer’s representations and warranties stated herein shall be true and correct in all material respects as of the Closing Date.

4.4. Title and Survey Review. Title Company delivered copies of preliminary title reports issued by the Title Company covering the Property to Buyer on August 14, 2026. On August 18, 2026, Buyer delivered to Title Company and Sellers written notice (the “Title Objection Notice”) of exceptions to title shown in the Title Report which are disapproved by Buyer. Sellers shall have three (3) business days after receipt of the Title Objection Notice to advise Buyer in writing that Sellers shall either (a) cause (i) such exceptions objected to by Buyer to be satisfied or discharged on or before the Closing, or (ii) the Title Company to issue an endorsement affirmatively insuring against such exception in a manner acceptable to Buyer in its sole discretion, at Sellers ’sole cost and expense, or (b) be unable or unwilling to remove, discharge or endorse the exception(s) (Sellers failure to notify Buyer being Sellers ’election to proceed as provided in clause (b) above), in which case Buyer will have until the Inspection Deadline to elect to (x) proceed with the purchase of the Property subject to such exception(s), or (y) cancel this Agreement by delivering written notice of such election to terminate (a “Termination Notice”) to Sellers and Escrow Holder, in which case Sellers and Buyer shall be released from further obligation or liability 5 hereunder (except for those obligations and liabilities which expressly survive such termination and except for Escrow Holder’s and the Title Company’s cancellation fees). Buyer’s failure to notify Sellers and Escrow Holder of its election between (x) and (y) in the immediately preceding sentence shall be deemed to be Buyer’s election to proceed as provided in (x). In the event Sellers determines at any time that it is unable or unwilling to remove any one or more of disapproved title or survey matters, Sellers may give written notice to Buyer to such effect and Buyer may, at its option, terminate this Agreement upon delivering a Termination Notice to Sellers and Escrow Holder, but only if given prior to the sooner to occur of the Closing Date or five (5) days after Buyer receives Sellers ’notice, in which case Sellers and Buyer shall be released from further obligation or liability hereunder (except for those obligations and liabilities which expressly survive such termination and except for Escrow Holder’s and the Title Company’s cancellation fees). If Buyer fails to give notice of Buyer’s disapproval by such date, Buyer shall be deemed to have approved such matters. It is understood that Buyer has requested extended ALTA coverage; however, Buyer shall satisfy itself prior to the Inspection Deadline that the Title Company will be willing to issue any extended ALTA coverage and any such endorsements in connection with the Title Policy and failure to deliver a Termination Notice by the Inspection Deadline shall be deemed a waiver of any objections to title and survey, approval of all matters pertaining to title and survey, including, without limitation, the forms of the Title Policy and the availability of any endorsements. The parties expressly agree that Buyer shall be responsible for all costs associated with obtaining extended ALTA coverage, including an ALTA survey.

4.5. Title Policy. It shall be a condition precedent for Buyer’s benefit that, at Closing, the Title Company is willing to issue Buyer (subject to the payment of any premium, which shall be paid as provided below) on the Closing, the Title Policy in the face amount of the Purchase Price, showing title vested in Buyer in accordance with the requirements determined by Buyer and Sellers prior to the expiration of the Inspection Deadline as provided in Section 4.4 above. In the event this condition precedent is not satisfied on or at Closing, then Buyer may cancel this Agreement by delivery of written notice to Sellers and Escrow Holder, in which case the Sellers and Buyer shall be released from further obligation or liability hereunder (except for those obligations and liabilities which expressly survive such termination and except for Escrow Holder’s and the Title Company’s cancellation fees).

4.6. Environmental Review. Seller has provided copies of Phase I reports to Buyer.

Buyer shall have until the Inspection Deadline to review those reports to determine whether there are any Hazardous Materials (as defined below) in condition or amount that would require remediation under applicable laws that would impose an impediment to any proposed future development and to determine whether or not the environmental condition of the Property is satisfactory to Buyer, in its sole and absolute discretion. If on or before the Inspection Deadline, Buyer determines that it is not satisfied with the environmental condition of the Property, then Buyer shall promptly (but in all events prior to the Inspection Deadline) deliver a Termination Notice to Sellers and Escrow Holder. If Buyer fails to deliver a Termination Notice prior to the Inspection Deadline, Buyer shall be deemed to have agreed that all environmental matters and conditions are acceptable to Buyer and Buyer intends to proceed with the acquisition of the Property (and that Buyer shall have no further right to terminate this Agreement pursuant to this Section).

4.7. Representations and Warranties. Each of the representations and warranties by Sellers contained in Section 7.1 and each of the representations and warranties by Buyer contained in Section 7.2 was true and correct in all material respects as of the date made and continues to be true and correct in all material respects as of the Closing.

4.8. No Material Change. No material change in the status of the use, title, occupancy or physical condition of the Property shall have occurred with respect to the Property prior to Closing that has not been approved in writing by Buyer, which approval can be withheld in Buyer’s sole, reasonable, 6 discretion. Additionally, until the Closing, Sellers shall (i) maintain its existing insurance policies in full force and effect; (ii) provide prompt written notice to Buyer of any casualty or condemnation affecting any portion of the Property after the effective Date; (iii) deliver to Buyer, promptly after receipt by Sellers, copies of all notices of violation issued by any governmental authority with respect to the Property received by Sellers after the Effective Date; (iv) advise Buyer promptly of any litigation, arbitration or other judicial or administrative proceeding which concerns or affects the Property; and (v) comply in material respects with the requirements of all contracts, licenses, permits, approvals, guaranties and warranties.

5. Closing Procedure. The closing of the purchase and sale of the Property as contemplated by this Agreement (the “Closing”) shall be affected through an escrow (the “Escrow”) on or prior to the Closing Date. To fully effectuate this Agreement, Sellers and Buyer agree to execute such separate or additional escrow instructions or other documents reasonably requested by Escrow Holder, the terms and conditions of same to be mutually agreed to by the parties hereto. This Agreement shall not be merged into any such separate or additional escrow instructions, but the latter shall be deemed auxiliary to this Agreement and the provisions of this Agreement shall be controlling as between the parties hereto and any such separate or additional escrow instructions shall expressly so provide.

5.1. Sellers Closing Deliveries. On or before the day that is one (1) business day prior to the Closing Date, Sellers shall deliver to Escrow Holder the following: (a) one (1) duly executed and notarized original of the grant deed (the “Deed”) in the form of Exhibit ”B” attached hereto, (b) one (1) duly executed original certificate of non-foreign status on Escrow Holder’s customary form (as reasonably revised by Sellers) and the California Form 593, (c) one (1) closing statement (“Closing Statement”) executed or initialed by Sellers reflecting the Purchase Price and the adjustments and prorations required hereunder, (d) evidence reasonably satisfactory to the Title Company respecting the due organizations of Sellers and the due authorization and execution by Sellers of this Agreement and the documents required to be delivered hereunder, and (e) such additional documents as may be reasonably required by the Title Company or Buyer in order to consummate the transactions hereunder (provided the same do not increase in any material respect the costs to, or liability or obligations of, Sellers in a manner not otherwise provided for herein).

5.2. Buyer’s Closing Deliveries. On or before the day that is one (1) business day prior to the Closing Date, Buyer shall deliver to Escrow Holder the following: (a) the Closing Payment by wire transfer of immediately available federal funds (provided that Buyer shall have the right to deliver same on or before 10:00 a.m. Pacific Time on the morning of the Closing Date), (b) one (1) Closing Statement executed or initialed by Buyer, (c) evidence reasonably satisfactory to the Title Company respecting the due organization of Buyer and the due authorization and execution by Buyer of this Agreement and the documents required to be delivered hereunder, and (d) such additional documents as may be reasonably required by the Title Company or Sellers in or to consummate the transactions hereunder (provided the same do not increase in any material respect the costs to, or liability or obligations of, Buyer in a manner not otherwise provided for herein).

5.3. Escrow Holder’s Actions. Upon receipt of the items described in Sections 5.1 and

5.2 above, Escrow Holder shall take the following actions: (a) wire the amount due Sellers and Buyer under the Closing Statement in accordance with wiring instructions from Sellers and Buyer respectively, (b) deliver the respective amounts due third parties under the Closing Statement in accordance with the respective instructions from such third parties, (c) record the Deed in the Official Records, (d) cause the Title Company to issue ALTA extended coverage owner’s title insurance policy in the standard form issued in the State of California for the Property in the amount of the Purchase Price, which policy shall show title to the Property to be vested in Buyer (the “Title Policy”), and deliver the same to Buyer, (e) file all information returns required under Section 6045 of the Internal Revenue Code and take all other reporting 7 actions as may be required in connection therewith, and (f) deliver a conformed electronic copy to Sellers and Buyer of the recorded Deed.

5.4. Closing Costs. Sellers shall pay (a) the cost of the premium for the standard CLTA coverage Title Policy, and (b) one-half (1/2) of Escrow Holder’s fees (except in the event of a default by Buyer, in which case Buyer shall be solely responsible for all Escrow charges). Buyer shall pay (i) the cost of the Title Policy to the extent such cost exceeds the cost of standard CLTA owner’s policy of title insurance, including extended coverage and policy endorsements, (ii) one-half (1/2) of Escrow Holder’s fees (except in the event of a default by Sellers, in which case Sellers shall be solely responsible for all Escrow charges), (iii) the cost to record the Deed, (iv) any and all transfer taxes due or owing in connection with the conveyance of the Property from Sellers to Buyer, and (v) all fees, costs or expenses in connection with Buyer’s inspections, including any new surveys of the Property or updates of existing surveys. Any other closing costs shall be allocated in accordance with local custom in Riverside County, California.

Sellers and Buyer shall pay their respective legal fees.

5.5. Expenses. Buyer shall be responsible for any and all expenses and taxes related to the Property from and after the Closing Date. This paragraph shall survive the Closing.

6. Casualty and Condemnation.

6.1. Casualty. If after the Effective Date, but prior to the Closing, the Property is damaged or destroyed by any casualty, Sellers shall have no obligation to repair or restore any such damage or destruction and Buyer shall proceed with the consummation of the transaction contemplated by this Agreement without any reduction in the Purchase Price, and Sellers shall assign its rights to insurance proceeds, if any, to Buyer (and in such event, Sellers shall not compromise, settle or adjust any claims without Buyer’s consent). Notwithstanding the foregoing, in the event Buyer’s contractor estimates that the costs to restore or repair such casualty (the “Restoration Estimate”) is likely to exceed $200,000, then Buyer shall have the right within ten (10) days after receiving the Restoration Estimate to notify Sellers in writing of Buyer’s election to terminate this Agreement; provided, however, if Buyer timely delivers its termination notice as provided above, Sellers shall have the right to nullify such termination notice by providing a credit against the Purchase Price at Closing in an amount equal to the uninsured amount set forth in the Restoration Estimate. In the event this Agreement is terminated pursuant to this Section, the Escrow Deposit (minus any Escrow Holder or Title Company cancellation charges) shall be refunded to Buyer and neither party shall have any further rights or obligations hereunder except for those that expressly survive termination.

6.2. Condemnation. If after the Effective Date, but prior to the Closing, more than twenty-five percent (25%) of the Property is taken pursuant to eminent domain proceedings not initiated by Sellers, Buyer shall have the right to terminate this Agreement with respect to the parcel so affected, by giving written notice thereof to Sellers within ten (10) business days after receiving notice of such condemnation. If Buyer fails to give written notice of termination to the Sellers within said ten (10) business day period, or if the portion of the Property so taken is twenty-five percent (25%) or less of such Property, then this Agreement shall remain in full force and effect, Buyer and Sellers shall close this transaction as provided herein without any reduction in the Purchase Price, and upon Closing, Sellers shall assign and/or transfer to Buyer, effective on the Closing, all of Sellers ’right, title and interest to any award allocated to such Land taken. In such event, Sellers shall not compromise, settle or adjust any claims without the prior written consent of Buyer, not to be unreasonably withheld. In the event this Agreement is terminated with respect to all or a portion of the Property pursuant to this Section, the portion of the Escrow Deposit which is allocable on a pro rata basis to the Property removed from the transaction contemplated hereby (minus any Escrow or Title Company’s cancellation charges) shall be returned to Buyer and neither party hereto shall have any further obligation in connection with the portion of the 8 Property for which this Agreement is terminated, except under those provisions that expressly survive a termination of this Agreement.

7. Representations and Warranties.

7.1. Representations and Warranties of Sellers. Sellers hereby represents and warrants to Buyer as of the Effective Date and as of the Closing Date that:

7.1.1. Authority; No Conflict. Sellers have full authority to enter into and perform this Agreement and the person or persons signing this Agreement and any documents executed pursuant hereto on Sellers ’behalf have full power and authority to bind Sellers.

7.1.2. No Breach. There are no contracts or agreements relating to the leasing, operation and maintenance of the Property which will be effective as to the Property following the Closing or under which any third person or party has any right or option to purchase the Property. This Agreement and all documents required hereby to be executed by Sellers are and shall be valid, legally binding obligations of and enforceable against Sellers in accordance with their terms, subject only to the applicable bankruptcy, insolvency, reorganization, moratorium laws or similar laws or equitable principles effecting or limiting the rights of contracting parties generally. To Seller’s knowledge, neither the execution and delivery of this Agreement and the documents referenced herein, nor the incurrence of the obligations set forth herein, nor the consummation of the transactions herein contemplated, nor compliance with the terms of this Agreement and the documents reference herein, result in the breach of any terms, conditions or provisions of, or constitute a default under, any bond, note, or other evidence of indebtedness or any contract, indenture, loan, partnership agreement, lease, or other agreements or instruments to which Sellers is a party or effecting the Property.

7.1.3. Litigation. There are no suits, claims, foreclosure proceedings, property tax protests, zoning or other administrative proceedings that are pending or, to the best of Sellers ’ knowledge, threatened with respect to or in any manner affecting the Property.

7.1.4. Property Documents Deliveries. To the best of Sellers ’knowledge, all Property Documents have been delivered to Buyer and that the Property Documents delivered are true and accurate in all respects.

7.1.5. Environmental Laws. California Health and Safety Code Section 25359.7 requires owners of nonresidential property who know or have reasonable cause to believe that a release of a hazardous material has come to be located on or beneath real property to provide written notice of that condition to a buyer of said real property.
(a) To the best of Sellers’ knowledge, Seller’ have not received written notice from any governmental authority that the Property or the use or operation thereof are in violation of any Environmental Laws, no such written notice has been issued and no violation of any Environmental Laws has occurred. To best of Sellers’ knowledge, no part of the Property has ever been used by any person or entity to refine, produce, use, store, handle, transfer, process, transport or dispose of any Hazardous Substances.
(i) For purposes of this Agreement, the following definitions apply:
“Environmental Laws” means all federal, state, local, or municipal laws, rules, orders, regulations, statutes, ordinances, codes, decrees, or requirements of any government authority regulating, relating to, or imposing liability or standards of conduct concerning any Hazardous Substance (as defined subsequently in this 9 Agreement), or pertaining to occupational health or industrial hygiene (and only to the extent that the occupational health or industrial hygiene laws, ordinances, or regulations relate to Hazardous Substances on, under, or about the Property), occupational or environmental conditions on, under, or about the Property, as now in effect, including without limitation, the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) and the Superfund Amendments and Reauthorization Act of 1986 (SARA) [42 U.S.C.A. §§ 9601 et seq.]; the Resource Conservation and Recovery Act of 1976 (RCRA) and the Solid Waste Disposal Act [42 U.S.C.A. §§ 6901 et seq.]; the Clean Water Act, also known as the Federal Water Pollution Control Act (FWPCA) [33 U.S.C.A. §§ 1251 et seq.]; the Toxic Substances Control Act (TSCA) [15 U.S.C.A. §§ 2601 et seq.]; the Hazardous Materials Transportation Act (HMTA) [49 U.S.C.A. §§ 5101 et seq.]; the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) [7 U.S.C.A. §§ 136 et seq.]; the Clean Air Act (CAA) [42 U.S.C.A. §§ 7401 et seq.]; the Safe Drinking Water Act (SDWA) [42 U.S.C.A. §§ 300f et seq.]; the Surface Mining Control and Reclamation Act of 1977 (SMCRA) [30 U.S.C.A. §§ 1201 et seq.]; the Emergency Planning and Community Right-to-Know Act of 1986 (EPCRA or EPCRTKA) [42 U.S.C.A. §§ 11001 et seq.]; the Occupational Safety and Health Act of 1970 (OSHA) [29 U.S.C.A. §§ 655, 657]; the California laws regarding the underground storage of hazardous substances [H & S C §§ 25280 et seq.]; the Hazardous Substance Account Act [H & S C §§ 25300 et seq.]; the California laws regarding hazardous waste control [H & S C §§ 25100 et seq.]; the Safe Drinking Water and Toxic Enforcement Act of 1986 [H & S C §§ 25249.5 et seq.]; the Porter-Cologne Water Quality Control Act [Wat C §§ 13000 et seq.], and any amendments of or regulations promulgated under the statutes cited above and any other federal, state, or local law, statute, ordinance, or regulation now in effect that pertains to occupational health or industrial hygiene, and only to the extent that the occupational health or industrial hygiene laws, ordinances, or regulations relate to Hazardous Substances on, under, or about the Property, or the regulation or protection of the environment, including ambient air, soil, soil vapor, groundwater, surface water, or land use.
“Hazardous Substances” includes without limitation (a) those substances included within the definitions of “hazardous substance,” “hazardous waste,” “hazardous material,” “toxic substance,” “solid waste,” or “pollutant or contaminant” in CERCLA, RCRA, TSCA, HMTA, or under any other Environmental Law; (b) those substances listed in the United States Department of Transportation (DOT) Table [49 CFR 172.101], or by the Environmental Protection Agency (EPA), or any successor agency, as hazardous substances [40 CFR Part 302]; (c) other substances, materials, and wastes that are or become regulated or classified as hazardous or toxic under federal, state, or local laws or regulations; and (d) any material, waste, or substance that is: a petroleum or refined petroleum product, asbestos, polychlorinated biphenyl, designated as a hazardous substance pursuant to 33 U.S.C.A. § 1321 or listed pursuant to 33 U.S.C.A. § 1317, a flammable explosive, or a radioactive material.

7.1.6. Changed Condition. Notwithstanding any contrary provision of this Agreement, if during the pendency of this Agreement prior to Closing, Sellers disclose any matters which make any of Sellers ’representations and warranties untrue in any material respect or in the event that Buyer otherwise becomes aware during the pendency of this Agreement prior to Closing of any matters which make any of Sellers ’representations or warranties untrue in any material respect, such representations and warranties shall be deemed modified to reflect such matters and Sellers shall bear no liability for such matters, but Buyer shall have the right to elect in writing prior to the Closing Date, (a) to terminate this Agreement or (b) to waive such matter and complete the purchase of the Property without reduction of the Purchase Price in accordance with the terms of this Agreement (and any failure to give notice under clause (a) shall be deemed to constitute such a waiver). Sellers ’representations and warranties contained in this Section 7.1 shall survive the Closing and shall not merge with the recordation of the Deed.

7.2. Covenants, Representations and Warranties of Buyer. Buyer hereby represents and warrants to Sellers as of the Effective Date and the Closing Date that:
10 7.2.1. Authority; No Conflict. Buyer is duly organized and validly existing under the laws of the State of California, has full authority to enter into and perform this Agreement and the person or persons signing this Agreement and any documents executed pursuant hereto on Buyer’s behalf have full power and authority to bind Buyer. Subject to obtaining Lake Elsinore City Council Approval, the execution, delivery and performance of this Agreement do not, and the consummation of the transaction contemplated hereby will not, violate the organizational documents, or other agreements made by or binding upon, Buyer.

7.2.2. OFAC. (a) Buyer is in compliance with the requirements of Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 23, 2001) (the “Order”) and other similar requirements contained in the rules and regulations of the Office of Foreign Assets Control, Department of the Treasury (“OFAC”) and in any enabling legislation or other executive orders or regulations in respect thereof (the Order and such other rules, regulations, legislation, or orders are collectively called the “Orders”), and (b) neither Buyer, nor any beneficial owner of Buyer, is (i) listed on the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to the Order and/or on any other list of terrorists or terrorist organizations maintained pursuant to any of the rules and regulations of OFAC or pursuant to any other applicable Orders (such lists are collectively referred to as the “Lists”), (ii) a person who has been determined by competent authority to be subject to the prohibitions contained in the Orders, or (iii) owned or controlled by, or acts for or on behalf of, any person on the Lists or any other person who has been determined by competent authority to be subject to the prohibitions contained in the Orders. In the event Buyer obtains actual knowledge that Buyer or any of its beneficial owners becomes listed on the Lists, then (A) Buyer shall immediately notify Sellers in writing, and (B) Buyer shall immediately remove such party from any interest in Buyer or Sellers may, without limitation of its other remedies permitted hereunder, terminate this Agreement and be entitled to so much of the Escrow Deposit necessary to reimburse Sellers for any and all costs incurred by Sellers in connection with this Agreement, which amount Escrow Holder shall release to Sellers upon demand therefor without the need for further instructions.

7.2.3. Bankruptcy. Buyer has not filed and has not been the subject of any filing of a petition under the federal bankruptcy law or any federal or state insolvency laws or laws for composition of indebtedness or for the reorganization of debtors.

7.2.4. Survival. The covenants in Section 7.2 of this Agreement shall not survive the Closing and shall be merged with the recordation of the Deed.

8. Natural Hazard Disclosure. As used herein, the term “Act” shall mean the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws. Buyer hereby acknowledges and agrees that (a) Sellers has retained, or shall retain, the services of a third party company to examine the maps and other information made available to the public by government agencies for the purpose of enabling Sellers to fulfill its disclosure obligations with respect to the Act and to prepare the written report of the result of its examination (the “Report”), (b) Sellers has provided, or shall provide, Buyer with a natural hazard disclosure statement (the “Disclosure Statement”) in a form required by the Act, (c) the Report fully and completely discharges Sellers from its disclosure obligations under the Act and under California Civil Code Sections 1102 through 1102.17 and all other laws, (d) the matters set forth in the Disclosure Statement or Report may change on or prior to the Closing and that Sellers has no obligation to update, modify or supplement the Disclosure Statement or Report, and (e) Sellers shall have no right to terminate this Agreement based upon the matters contained in the Report and/or the Disclosure Statement.
11 9. Default; Remedies.

9.1. Default by Sellers. In the event the Closing fails to occur due to a default by Sellers hereunder (and provided that all conditions precedent to Sellers ’obligations have been satisfied), Buyer’s sole and exclusive remedy shall be to either (a) terminate this Agreement and obtain the return of the Escrow Deposit, or (b) bring an action for specific performance, provided that such action is commenced within sixty (60) days after Sellers ’alleged default and as a condition precedent to any such action, and Buyer must comply with all requirements at law for purposes of bringing an action for specific performance.

Buyer waives its right to bring any action for damages against Sellers. This provision shall survive the termination of this Agreement.

9.2. Default by Buyer. In the event the Closing fails to occur due to a default by Buyer hereunder (and provided that all conditions precedent to Buyer’s obligations have been satisfied or waived), Sellers ’sole and exclusive remedy shall be to either (a) terminate this Agreement and commence an action for actual damages, provided that Buyer’s liability in connection with such action shall not exceed the amount of the Escrow Deposit (and provided further that such limitation shall not apply to any indemnification claims or to the extent of any fraud by Buyer), or (b) bring an action for specific performance, provided that such action is commenced within sixty (60) days after the later of (i) the scheduled Closing Date, or (ii) Buyer’s alleged default.

10. Limit on Liability. Notwithstanding anything to the contrary contained herein: (a) the liability of Sellers under this Agreement and any documents executed in connection herewith shall not exceed, in the aggregate, an amount equal to the Escrow Deposit, and (b) no Sellers Parties shall be personally liable for the performance of Sellers ’obligations under this Agreement.

11. Miscellaneous.

11.1. Brokers. Each party represents and warrants to the other that it has not dealt with any real estate broker, agent or finder in connection with this transaction. Buyer agrees to indemnify and hold Sellers harmless from and against any and all Claims arising out of any claim to a commission or fee by any party claiming by or through Buyer. Sellers agrees to indemnify and hold Buyer harmless from and against any and all Claims arising out of any claim to a commission or fee by any party claiming by or through Sellers. This provision shall survive the termination of this Agreement and the Closing.

11.2. Construction. The Purchase and Sale Agreement Basic Terms and Recitals set forth above and the Exhibits attached hereto are hereby incorporated herein as if fully set forth in this Agreement. This Agreement contains the entire agreement between the parties respecting the matters herein set forth and supersedes all prior agreements between the parties hereto respecting such matters. Words used in the singular shall include the plural, and vice versa. Whenever the words “including”, “include” or “includes” are used in this Agreement, they shall be interpreted in a non-exclusive manner. The captions and headings of the sections of this Agreement are for convenience only. Except as otherwise indicated, all exhibit and section references in this Agreement shall be deemed to refer to the exhibits and sections in this Agreement. Each party acknowledges and agrees that this Agreement is the product of negotiations between the parties and shall not be deemed prepared or drafted by any one party. In the event of any dispute between the parties concerning this Agreement, the parties agree that any ambiguity in the language of the Agreement is to not to be resolved against Sellers or Buyer, but shall be given a reasonable interpretation in accordance with the plain meaning of the terms of this Agreement and the intent of the parties as manifested hereby. This Agreement may be amended only by a written agreement executed by all parties. In no event shall any draft of this Agreement create any obligations or liabilities, it being intended that only a fully executed and delivered copy of this Agreement will bind the parties hereto. In no event shall this Agreement or any document or other memorandum related to the subject matter of this 12 Agreement be recorded without the prior written consent of Sellers and Buyer agrees that in no event shall it file any lis pendens against the Property in connection herewith except in accordance with bringing an action for specific performance as provided herein. This Agreement does not and shall not be construed to create a partnership, joint venture or any other relationship between the parties hereto, except the relationship of the Sellers and Buyer specifically established hereby.

11.3. Time of the Essence. Time is of the essence of this Agreement. Whenever action must be taken under this Agreement during a certain period of time that ends on a non-business day, then such period shall be extended until the immediately following business day. As used herein, “business day” means any day other than a Saturday, Sunday or federal or California State holiday.

11.4. Successors and Assigns; Affiliate(s). Buyer may not assign or transfer its rights or obligations under this Agreement either directly or indirectly (whether by outright transfer, transfer of ownership interests or otherwise) without the prior written consent of Sellers (which may be given or withheld in its sole and absolute discretion); provided, however, Sellers shall not be required to consent to any assignment by Buyer of its interest in this Agreement on or before the Closing to an entity which is an Affiliate so long as Buyer gives Sellers at least ten (10) business days ’advance written notice thereof and Buyer and the assignee execute and deliver a commercially reasonable assignment and assumption agreement to Sellers. In the event of a transfer, the transferee shall assume in writing all of the transferor’s obligations hereunder, but such transferor shall not be released from its obligations hereunder. No consent given by Sellers to any transfer or assignment of Buyer’s rights or obligations hereunder shall be construed as a consent to any other transfer or assignment of Buyer’s rights or obligations hereunder. No transfer or assignment in violation of the provisions hereof shall be valid or enforceable. Subject to the foregoing, this Agreement and the terms and provisions hereof shall inure to the benefit of and be binding upon the successors and assigns of the parties.

11.5. Notices. Any notice which a party is required or may desire to give the other shall be in writing and shall be sent by personal delivery or by mail (either (a) by United States registered or certified mail, return receipt requested, postage prepaid, or (b) by Federal Express or similar generally recognized overnight carrier regularly providing proof of delivery), Addressed as set forth in the Basic Terms section of this Agreement (subject to the right of a party to designate a different Address for itself by notice similarly given at least five (5) days in advance). Any notice so given by mail shall be deemed to have been given as of the date of delivery (whether accepted or refused) established by U.S. Post Office return receipt or the overnight carrier’s proof of delivery, as the case may be. Any such notice not so given shall be deemed given upon actual receipt of the same by the party to whom the same is to be given.

11.6. Third Parties. No third party shall be entitled to enforce or otherwise shall acquire any right, remedy or benefit by reason of any provision of this Agreement. This provision shall survive the termination of this Agreement and the Closing.

11.7. Severability. If any term or provision of this Agreement shall be invalid or unenforceable, the remainder of this Agreement shall not be affected thereby and that portion which is found to be unenforceable shall be deemed to be a statement of intention by the parties; and the parties further agree that in such event they shall take all steps necessary to comply with such public hearings and/or notice requirements as may be necessary in order to make valid that portion which is found to be unenforceable.

11.8. Waiver. Any party may waive any of the conditions to its obligations hereunder, but any such waiver shall be effective only if contained in a writing signed by such party. No such waiver shall reduce the rights or remedies of a party by reason of any breach by the other party hereunder. No failure or delay by one party to exercise any right it may have by reason of the default of the other party 13 shall operate as a waiver of default of this Agreement or shall prevent the exercise of any right by such party.

11.9. Initiative Measures; Cooperation in the event of Challenge. Should an initiative, measure, moratorium, referendum, statute, ordinance, or other limitation be enacted by the citizens of Lake Elsinore which would prevent the consummation of all or any part of the transaction contemplated herein, and to the extent such initiative, measure, moratorium, referendum, statute, ordinance or other limitation be determined by a court of competent jurisdiction to invalidate or prevail over all or any part of this Agreement, Buyer shall have no recourse against Sellers hereunder, but shall retain all other rights, claims and causes of action under this Agreement not so invalidated and any and all other rights, claims and causes of action at law or in equity which Buyer may have independent of this Agreement. The foregoing shall not be deemed to limit Buyer’s right to appeal any such determination that such initiative, measure, referendum, statute, ordinance or other limitation invalidates or prevails over all or any part of this Agreement. Sellers agrees to cooperate with Buyer in all reasonable manners in order to keep this Agreement in full force and effect, provided Buyer shall reimburse Sellers for its out-of-pocket expenses incurred directly in connection with such cooperation and Sellers shall not be obligated to institute a lawsuit or other court proceedings in this connection. In the event of any legal action instituted by a third party or other governmental entity or official challenging the validity of any provision of this Agreement, the parties hereby agree to cooperate fully with each other in defending said action and the validity of each provision of this Agreement, however, Buyer shall be liable for all legal expenses and costs incurred in defending any such action. Buyer shall be entitled to choose legal counsel to defend against any such legal action and shall pay any attorneys ’fees awarded against Sellers or Buyer, or both, resulting from any such legal action.

Buyer shall be entitled to any award of attorneys ’fees arising out of any such legal action.

11.10. Counterparts. This Agreement may be executed in one or more originally executed counterparts, all of which, when taken together, shall constitute one and the same instrument. [SIGNATURES ON FOLLOWING PAGE]
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date.

SELLERS:

B-MAX MITIGATION PROPERTY, LLC;
By:

Name:

Title:

LAKE ELSINORE MITIGATION SITE LLC;
By:

Name:

Title:

JOHN J. JOHNSON TRUSTEE OF THE JOHN J.

JOHNSON REVOCABLE LIVING TRUST DATED
AUGUST 9, 2017
By:

Name:

Title:

HUSHMAND TAGHDIRI TRUST DATED
FEBRUARY 20, 1998
By:

Name:

Title:

SIGNATURE TO PURCHASE AND SALE AGREEMENT
PAGE 1 OF 2
BUYER:

CITY OF LAKE ELSINORE,
a California municipal corporation
By:

Name:

Title:

Date of Execution: , 2026

Candice Alvarez, MMC, City Clerk

SIGNATURE TO PURCHASE AND SALE AGREEMENT
PAGE 2 OF 2
ESCROW HOLDER’S ACKNOWLEDGEMENT
The undersigned hereby executes this Agreement to evidence its receipt of a fully executed version of this Agreement and agrees to act as Escrow Holder in accordance with the terms of this Agreement.

ESCROW HOLDER:

STEWART TITLE COMPANY
By:

Name:

Its:

EXHIBIT LIST
Exhibit “A” - Legal Description of Property
Exhibit ”B” - Form of Deed
EXHIBIT “A”
EXHIBIT “A”

LEGAL DESCRIPTION OF PROPERTY
EXHIBIT “B”
1 EXHIBIT “B”

FORM OF DEED

RECORDING REQUESTED BY,

WHEN RECORDED MAIL TO &
MAIL TAX STATEMENTS TO:
________________________
City of Lake Elsinore
130 South Main Street
Lake Elsinore, CA 92530
Attention: City Manager
___________________________
APNs: 371-090-0022, -003, -004, 371-150-010 and 371-160-007 SPACE ABOVE THIS LINE RESERVED FOR RECORDER’S USE

GRANT DEED

THE UNDERSIGNED GRANTOR DECLARES THAT DOCUMENTARY TRANSFER TAX IS $________________; COUNTY TRANSFER TAX $________________; CITY TRANSFER TAX $________________.
[X] computed on full value of property conveyed, or
[ ] computed on full value less value of liens or encumbrances remaining at time of sale. [ ] unincorporated area [X] City of Lake Elsinore, AND
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, B-Max Mitigation Property, LLC; Lake Elsinore Mitigation Site LLC; John J. Johnson Trustee of the John J.

Johnson Revocable Living Trust Dated August 9, 2017 and Hushmand Taghdiri Trust Dated February 20, 1998 (“Grantor”), hereby GRANTS to City of Lake Elsinore, a California municipal corporation (“Grantee”), the real property located in the City of Lake Elsinore, County of Riverside, State of California more particularly described in Schedule “1” attached hereto and made a part hereof (the “Land”), together with all of Grantor’s rights in and to any and all buildings and improvements thereon and appurtenances belonging thereto, subject to (i) the terms and conditions stated and rights retained by Sellers set forth in those certain Easement Agreement, recorded substantially concurrently herewith, (ii) all other matters of record, and (iii) all matters that would be reflected on an accurate survey of the Land as of the time of recordation of this deed.
[END OF TEXT; SIGNATURES ON FOLLOWING PAGE]
EXHIBIT “B”
2 IN WITNESS WHEREOF, the undersigned hereby executes this instrument effective as of the ____ day of ___________, 2026.

GRANTOR:

B-MAX MITIGATION PROPERTY, LLC;
By:

Name:

Title:

LAKE ELSINORE MITIGATION SITE LLC;
By:

Name:

Title:

JOHN J. JOHNSON TRUSTEE OF THE JOHN J.

JOHNSON REVOCABLE LIVING TRUST DATED
AUGUST 9, 2017
By:

Name:

Title:

HUSHMAND TAGHDIRI TRUST DATED
FEBRUARY 20, 1998
By:

Name:

Title:

EXHIBIT ONLY – DO NOT SIGN
INSERT SCHEDULE “1” (LEGAL DESCRIPTION OF LAND)

INSERT APPLICABLE ACKNOWLEDGEMENT

Page 1 of 2 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Adam Gufarotti, Assistant Director of Lake & Community Operations Date: August 25, 2026
Subject: On-Call Agreement with Nathan Ashbrook for Repairs, Maintenance, Servicing, and Related Work Associated with the Vintage Trailers at Launch Pointe Recreation Destination & RV Park
Recommendation
Approve and authorize the City Manager to execute a On-Call Agreement with Nathan Ashbrook for repairs, maintenance, servicing, and related work associated with the vintage trailers at Launch Pointe Recreation Destination & RV Park for an annual amount not to exceed $50,000 in such final form as approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $5,000 for uncertainties and adjustments.

Background
Launch Pointe Recreation Destination & RV Park includes a collection of vintage trailers that are maintained and made available as part of the facility's recreational and hospitality offerings. Due to the age and unique characteristics of these trailers, ongoing maintenance and occasional specialized repairs are necessary to preserve their condition, functionality, appearance, and guest readiness.

The required work may include, but is not limited to, general repairs, preventative maintenance, troubleshooting, minor improvements, fixture and appliance repairs, interior and exterior repairs, and other related maintenance services necessary to keep the vintage trailers in safe and usable condition.

Nathan Ashbrook Agreement

Page 2 of 2 ends

Because repair and maintenance needs can arise throughout the year and may vary from trailer to trailer, an on-call arrangement provides the City with a practical means of obtaining services when needed rather than procuring a separate agreement for each individual repair.

Discussion
Nathan Ashbrook has the experience and capability to perform repairs and maintenance associated with the vintage trailers at Launch Pointe. The proposed On-Call Agreement would allow City staff to request services from Mr. Ashbrook on an as-needed basis.

An on-call agreement will provide several benefits, including:
• Timely response to maintenance and repair needs;
• Continuity of service for the vintage trailer units;
• Access to specialized knowledge of the trailers and their unique maintenance requirements;
• Reduced potential for extended trailer downtime;
• Improved preservation of City property and guest accommodations; and • Greater flexibility to address unforeseen maintenance issues as they occur.

Fiscal Impact
The services provided will be funded up to $175,000 from operating budget funds.

Attachments
Attachment 1 – Agreement
Exhibit A – Rate Sheet

Page 1 ends

AGREEMENT FOR CONTRACTOR SERVICES
Nathan Ashbrook

ON-CALL SERVICES
This Agreement for Contractor Services (On-Call) (the “Agreement”) is made and entered into as of August 25, 2026 by and between the City of Lake Elsinore, a municipal corporation (the “City”) and Nathan Ashbrook, a sole proprietor (the “Contractor”).

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

On-call services for repairs and maintenance of Launch Pointe Vintage Trailers B. The City has prepared a request for a proposals and Contractor has submitted to City a proposal, dated August 11, 2026, both of which are attached hereto as Exhibit A (collectively, the "Contractor's Proposal") and incorporated herein, to provide services and related work to the City pursuant to the terms of this Agreement.

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

AGREEMENT

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

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

Page 2 ends

c. Term and Compliance with Task/Work Order System. Unless earlier terminated as provided elsewhere in this Agreement, this Agreement shall continue in full force and effect for a period commencing on July 1, 2026 and ending June 30, 2029. The City may, at its sole discretion, extend the term of this Agreement on a 12-month basis not to exceed 2 additional twelve (12) month renewal terms by giving written notice thereof to Contractor not less than thirty (30) days before the end of the contract term, such notice to be exercised by the City Manager.

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

3. Compensation. Compensation to be paid to Contractor shall be in accordance with the fees set forth in Contractor's Proposal (Exhibit A), which is attached hereto and incorporated herein by reference. In no event shall Contractor's annual compensation exceed fifty thousand dollars ($50,000.00) without additional written authorization from the City. Notwithstanding any provision of Contractor's Proposal to the contrary, out of pocket expenses set forth in Exhibit A shall be reimbursed at cost without an inflator or administrative charge. Payment by City under this Agreement shall not be deemed a waiver of defects, even if such defects were known to the City at the time of payment.

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

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

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

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

Page 3 ends

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

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

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

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required by law, from the date of termination or completion of this Agreement. c. Any records or documents required to be maintained pursuant to this Agreement shall be made available for inspection or audit, at any time during regular business hours, upon written request by the City Manager, City Attorney, City Auditor or a designated representative of these officers. Copies of such documents shall be provided to the City for inspection at City Hall when it is practical to do so. Otherwise, unless an alternative is mutually agreed upon, the records shall be available at Contractor's address indicated for receipt of notices in this Agreement. d. Where City has reason to believe that such records or documents may be lost or discarded due to dissolution, disbandment or termination of Contractor's business, City may, by written request by any of the above-named officers, require that custody of the records be given to the City and that the records and documents be maintained in City Hall. Access to such records and documents shall be granted to any party authorized by Contractor, Contractor's representatives, or Contractor's successor-in-interest.

9. Independent Contractor.
a. Contractor is and shall at all times remain as to the City a wholly independent contractor pursuant to California Labor Code Section 3353. The personnel performing the services under this Agreement on behalf of Contractor shall at all times be under Contractor’s exclusive direction and control. Neither City nor any of its officers, employees, or agents shall have control over the conduct of Contractor or any of Contractor’s officers, employees, or agents, except as set forth in this Agreement. Contractor shall not at any time or in any manner represent that it or any of its officers, employees, or agents are in any manner officers, employees, or agents of the City.

Contractor shall not incur or have the power to incur any debt, obligation, or liability whatsoever against City, or bind City in any manner.
b. Notwithstanding any other federal, state and local laws, codes, ordinances and regulations to the contrary, Contractor and any of its employees, agents, and subcontractors providing service under this Agreement shall not qualify for or become entitled to, and hereby agree to waive any claims to, any compensation, benefit, or any incident of employment by City, including but not limited to eligibility to enroll in PERS as an employee of City and entitlement to any contribution to be paid by City for employer contribution and/or employee contributions for PERS benefits.

10. PERS Eligibility Indemnification. In the event that Contractor or any employee, agent, or subcontractor of Contractor providing services under this Agreement claims or is determined by a court of competent jurisdiction or the California Public Employees Retirement System (PERS) to be eligible for enrollment in PERS as an employee of the City, Contractor shall indemnify, defend, and hold harmless City for the payment of any employee and/or employer contributions for PERS benefits on behalf of Contractor or its employees, agents, or subcontractors, as well as for the payment of any penalties and interest on such contributions, which would otherwise be the responsibility of City.

11. Interests of Contractor. Contractor (including principals, associates and management employees) covenants and represents that it does not now have any investment or interest in real property and shall not acquire any interest, direct or indirect, in the area covered by this Agreement or any other source of income, interest in real property or investment which would be affected in any manner or degree by the performance of Contractor's services hereunder. Contractor further covenants and represents that in the performance of its duties hereunder no person having any such interest shall perform any services under this Agreement.

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Contractor is not a designated employee within the meaning of the Political Reform Act because Contractor:
a. will conduct research and arrive at conclusions with respect to his/her rendition of information, advice, recommendation or counsel independent of the control and direction of the City or of any City official, other than normal agreement monitoring; and b. possesses no authority with respect to any City decision beyond rendition of information, advice, recommendation or counsel. (FPPC Reg. 18700(a) (2).)

12. Ability of Contractor. City has relied upon the training and ability of Contractor to perform the services hereunder as a material inducement to enter into this Agreement. Contractor shall therefore provide properly skilled personnel to perform all services under this Agreement. All work performed by Contractor under this Agreement shall be in accordance with applicable legal requirements and shall meet the standard of quality ordinarily to be expected of competent contractors in Contractor's field of expertise.

13. Compliance with Laws.
a. Contractor shall comply with all local, state and federal laws and regulations applicable to the services required hereunder, including any rule, regulation or bylaw governing the conduct or performance of Contractor and/or its employees, officers, or board members. b. Contractor represents that it has obtained and will maintain at all times during the term of this Agreement all professional and/or business licenses, certifications and/or permits necessary for performing the services described in this Agreement, including a City business license.

14. Licenses. Contractor represents and warrants to City that it has the licenses, permits, qualifications, insurance and approvals of whatsoever nature, which are legally required of Contractor to practice its profession. Contractor represents and warrants to City that Contractor shall, at its sole cost and expense, keep in effect or obtain at all times during the term of this Agreement, any licenses, permits, insurance and approvals which are legally required of Contractor to practice its profession.

Contractor shall maintain a City of Lake Elsinore business license.

15. Indemnity. Contractor shall indemnify, defend, and hold harmless the City and its officials, officers, employees, agents, and volunteers from and against any and all losses, liability, claims, suits, actions, damages, and causes of action arising out of any personal injury, bodily injury, loss of life, or damage to property, or any violation of any federal, state, or municipal law or ordinance, to the extent caused, in whole or in part, by the willful misconduct or negligent acts or omissions of Contractor or its employees, subcontractors, or agents, by acts for which they could be held strictly liable, or by the quality or character of their work. The foregoing obligation of Contractor shall not apply when (1) the injury, loss of life, damage to property, or violation of law arises from the sole negligence or willful misconduct of the City or its officers, employees, agents, or volunteers and (2) the actions of Contractor or its employees, subcontractor, or agents have contributed in no part to the injury, loss of life, damage to property, or violation of law. It is understood that the duty of Contractor to indemnify and hold harmless includes the duty to defend as set forth in Section 2778 of the California Civil Code. Acceptance by City of insurance certificates and endorsements required under this Agreement does not relieve Contractor from liability under this indemnification and hold harmless clause. This indemnification and hold harmless clause shall apply to any damages or claims for damages whether or not such insurance policies shall have been determined to apply. By execution of this Agreement, Contractor acknowledges and agrees to the provisions of this Section and that it is a material element of consideration.

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Lake Elsinore City CouncilAugust 25, 2026

Lake Elsinore City Council
August 25, 2026