Agenda — Moreno Valley City Council, May 5, 2026 (part 4 of 4)

Section 4.03. Notice of Redemption. Notice of redemption pursuant to Section 4.01(a) or (b) shall be mailed by first class mail not less than twenty (20) days before any Redemption Date, to the respective Owners of any 2026A Bonds designated for redemption at their addresses appearing on the Registration Books and to the Securities Depositories and the Information Services; provided, however, that so long as the 2026A Bonds are registered in the name of the Nominee, notices of redemption shall be provided in such manner as complies with the requirements of DTC; and, provided further, that such notice may be cancelled by the Authority upon written request delivered to t he Trustee not less than five (5) days prior to such Redemption Date. Each notice of redemption shall state the date of notice, the redemption date, the place or places of redemption, the Redemption Price, will designate the maturities, CUSIP numbers, if any, and, if less than all 2026A Bonds of any such maturity are to be redeemed, the serial numbers of the 2026A Bonds of such maturity to be redeemed by giving the individual number of each 2026A Bond or by stating that all 2026A Bonds between two stated numbers, both inclusive, have been called for redemption and, in the case of 2026A Bonds to be redeemed in part only, the respective portions of the principal amount thereof to be redeemed. Each such notice shall also state that on the redemption date ther e will become due and payable on each of 737

22 4902-1916-0721v6/022432-0050
said 2026A Bonds or parts thereof designated for redemption the Redemption Price thereof or of said specified portion of the principal thereof in the case of a 2026A Bond to be redeemed in part only, together with, interest accrued thereon to the redemption date, and that (provided that moneys for redemption have been deposited with the Trustee) from and after such redemption date interest thereon shall cease to accrue, and shall require that such 2026A Bonds be then surrendered to the Trustee.

Neither the failure to receive such notice nor any defect in the notice or the provision thereof will affect the validity of the redemption of any 2026A Bond. Notice of redemption of 2026A Bonds shall be given by the Trustee, at the expense of the Authority, for and on behalf of the Authority.

With respect to any notice of optional redemption of 2026A Bonds, such notice may state that such redemption shall be conditional upon the receipt by the Trustee on or prior to the date fixed for such redemption of moneys sufficient to pay the principal of, premium, if any, and interest on such 2026A Bonds to be redeemed and that, if such moneys shall not have been so received, said notice shall be of no force and effect and the Trustee shall not be required to redeem such 2026A Bonds. In the event that such notice of redemption contains such a condition and such moneys are not so received, the redemption shall not be made, and the Trustee shall within a reasonable time thereafter give notice, in the manner in which the notice of redemption was given, that such moneys were not so received.

Section 4.04. Partial Redemption of 2026A Bonds. Upon surrender of any 2026A Bond redeemed in part only, the Authority shall execute and the Trustee shall authenticate and deliver to the Owner thereof, at the expense of the Authority, a new 2026A Bond or 2026A Bonds of authorized denominations equal in aggregate principal amount to the unredeemed portion of the 2026A Bonds surrendered and of the same series, interest rate and maturity.

Section 4.05. Effect of Redemption . Notice of redemption having been duly given as aforesaid, and moneys for payment of the redemption price of, together with interest accrued to the date fixed for redemption on, the 2026A Bonds (or portions thereof) so called for redemption being held by the Trustee, on the redemption date designated in such notice, the 2026A Bonds (or portions thereof) so called for redemption shall become due and payable, interest on the 2026A Bonds so called for redemption shall cease to accrue, said 2026A Bonds (or portions thereof) shall cease to be entitled to any benefit or security under the Indenture, and the Owners of said 2026A Bonds shall have no rights in respect thereof except to receive payment of the redemption price thereof. The Trustee shall, upon surrender for payment of any of the 2026A Bonds to be redeemed on their Redemption Dates, pay such 2026A Bonds at the Redemption Price.

All 2026A Bonds redeemed pursuant to the provisions o f this Article shall be canceled upon surrender thereof.

ARTICLE V

REVENUES, FUNDS AND ACCOUNTS;

PAYMENT OF PRINCIPAL AND INTEREST
Section 5.01. Pledge and Assignment; Revenue Fund.
(a) All of the Authority Revenues and any other amounts (including proceeds of the sale of the 2026A Bonds) held in any fund or account established pursuant to the Indenture (except the Rebate Fund) are hereby irrevocably pledged to secure the payment of the principal of and interest, and the premium, if any, on the 2026A Bonds in accordance with their terms and the 738

23 4902-1916-0721v6/022432-0050
provisions of the Indenture, subject only to the provisions of the Indenture permitting the terms and conditions set forth herein. Said pledge shall constitute a lien on and security interest in such amounts and shall attach, be perfected and be valid and binding from and after the Closing Date, without any physical delivery thereof or further act and shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise against the Authority, irrespective of whether such parties have notice hereof.
(b) The Authority, for good and valuable consideration in hand received, does hereby irrevocably assign and transfer to the Trustee without recourse, for the benefit of the Owners of the 2026A Bonds as set forth herein , all of its rights, title, and interest in all Series 2026A Installment Payments payable by the City pursuant to the Installment Purchase Agreement, including all rights of the Authority thereunder as may be necessary to enforce compliance with said provisions (including enforcement of payment obligations and rate covenants, if any, contained in the Installment Purchase Agreement, or otherwise to protect the interest of the Owners of the 2026A Bonds. Such assignment shall be subject to and limited by the terms of the Indenture. (c) There is hereby established with the Trustee the Revenue Fund, which the Trustee covenants to maintain and hold in trust separate and apart from other funds held by it so long as any Series 2026A Installment Payments remain unpaid. Except as directed in Section 5.06 and

5.09, all Authority Revenues shall be promptly deposited by the Trustee upon receipt thereof into the Revenue Fund; except that all moneys received by the Trustee and required hereunder to be deposited in the Redempt ion Fund shall be promptly deposited therein. All Authority Revenues deposited with the Trustee shall be held, disbursed, allocated and applied by the Trustee only as provided in the Indenture. The Trustee shall also create and maintain an Interest Accou nt and a Principal Account within the Revenue Fund.

Section 5.02. Allocation of Authority Revenues. The Trustee shall transfer from the Revenue Fund and deposit into the following respective accounts, the following amounts in the following order of priority and at the following times, the requirements of each such account (including the making up of any deficiencies in any such account resulting from lack of Authority Revenues sufficient to make any earlier required deposit) at the time of deposit to be satisfied befo re any transfer is made to any account subsequent in priority:
(a) Not later than the Business Day preceding each date on which the interest on the 2026A Bonds shall become due and payable hereunder, the Trustee shall deposit in the Interest Account that sum, if any, required to cause the aggregate amount on deposit in the Interest Account to be at least equal to the amount of interest becoming due and payable on such date on all 2026A Bonds then Outstanding.
(b) Not later than the Business Day preceding each date on which the principal of the 2026A Bonds shall become due and payable hereunder, the Trustee shall deposit in the Principal Account that sum, if any, required to cause the aggregate amount on deposit in the Principal Account to equal the principal amount of the 2026A Bonds coming due and payable on such date or subject to mandatory sinking fund redemption on such date.

Section 5.03. Application of Interest Account. All amounts in the Interest Account shall be used and withdrawn by the Trustee solely for the purpose of paying interest on the 2026A Bonds as it shall become due and payable (including accrued interest on any 2026A Bonds purchased or accelerated prior to maturity pursuant to the Indenture). 739

24 4902-1916-0721v6/022432-0050
Section 5.04. Application of Principal Account. All amounts in the Principal Account shall be used and withdrawn by the Trustee solely to pay the principal amount of the 2026A Bonds at maturity, mandatory sinking fund redemption, purchase or acceleration; provided, however, that at any time prior to selection for redemption of any such 2026A Bonds, upon written direction of the City, the Trustee shall apply such amounts to the purchase of 2026A Bonds at public or private sale, as and when and at such prices (including brokerage and other charges, but excluding accrued interest, which is payable from the Interest Account) as s hall be directed pursuant to a w ritten request of the City, except that the purchase price (exclusive of accrued interest) may not exceed the Redemption Price then applicable to the 2026A Bonds.

Section 5.05. Application of Redemption Fund. There is hereby established with the Trustee a special fund designated as the “Redempt ion Fund.” All amounts in the Redemption Fund shall be used and withdrawn by the Trustee solely for the purpose of paying the principal of and accrued interest on the 2026A Bonds to be redeemed on any Redemption Date pursuant to Section 4.01 ; provided, however, that at any time prior to selection for redemption of any such 2026A Bonds, upon written direction of the City, the Trustee shall apply such amounts to the purchase of 2026A Bonds at public or private sale, as and when and at such prices (including brokerage and other charges, but excluding accrued interest, which is payable from the Interest Account) as shall be directed pursuant to a written request of the City, except that the purchase price (exclusive of accrued interest) may not exceed the Redemption Price then applicable to the 2026A Bonds.

Section 5.06. Investments. All moneys in any of the funds or accounts established with the Trustee pursuant to the Indenture shall be invested by the Trustee solely in Permitted Investments which will, as nearly as possib le, mature on or before the dates when such moneys are anticipated to be needed for disbursement. Such investments shall be directed by the Authority pursuant to a Request of the Authority filed with the Trustee at least two (2) Business Days in advance of the making of such investments (which directions shall be promptly confirmed to the Trustee in writing). In the absence of any such directions from the Authority, the Trustee shall invest any such moneys in Permitted Investments; provided, however, that any such investment shall be made by the Trustee only if, prior to the date on which such investment is to be made, the Trustee shall have received a written direction from the City specifying a specific money market fund and, if no such written direction from the City is so received, the Trustee shall hold such moneys uninvested. Obligations purchased as an investment of moneys in any fund shall be deemed to be part of such fund or account.

All interest or gain derived from the investment of amounts in a ny of the funds or accounts established hereunder shall be deposited in the Interest Account unless otherwise provided in the Indenture. For purposes of acquiring any investments hereunder, the Trustee may commingle funds (other than the Rebate Fund) held by it hereunder upon the Request of the Authority. The Trustee may act as principal or agent in the acquisition or disposition of any investment and may impose its customary charges therefor. The Trustee shall incur no liability for losses arising from any investments made pursuant to this Section 5.06. The Trustee may rely conclusively upon the investment direction of the Authority or the City as to the suitability and legality of the directed investments.

The City acknowledges that to the extent that r egulations of the Comptroller of the Currency or other applicable regulatory entity grant the City the right to receive brokerage confirmations of security transactions as they occur, the City specifically waives receipt of such confirmations to the extent permitted by law. The Trustee shall furnish the City periodic cash transaction statements which include detail for all investment transactions effected by the Trustee and brokers selected by the City.

Upon the City’s election, such statements will be de livered via the Trustee’s online service and upon 740

25 4902-1916-0721v6/022432-0050
electing such service; paper statements will be provided only upon request. The City further understands that trade confirmations for securities transactions effected by the Trustee will be available upon request and at no additional cost and other trade confirmations may be obtained from the applicable broker.

The Trustee may make any investments hereunder through its own bond or investment department or trust investment department, or those of its parent or an affiliate. The Trustee or any of its affiliates may act as sponsor, advisor or manager in connection with any investments made by the Trustee hereunder. The Trustee or any of its affiliates may act as sponsor, advisor or manager in connection with any investments made by the Trustee under the Indenture. The parties acknowledge that the Trustee is not providing investment supervision, recommendations, or advice.

The City shall invest, or cause to be invested, all moneys in any fund or accounts esta blished with the Trustee as provided in the Tax Certificate.

The Authority shall invest, or cause to be invested, all monies in any fund or accounts established with the Trustee as provided in the Tax Certificate.

For investment purposes, the Trustee may c ommingle the funds and accounts established hereunder, but shall account for each separately. In determining the market value of Permitted Investments, the Trustee may use and rely conclusively and without liability upon any generally recognized pricing information service (including brokers and dealers in securities) available to it.

Section 5.07. Reserve Fund. The Trustee shall establish and hold in trust the Reserve Fund. [The City shall cause the Reserve Surety Policy to be deposited in the Reserve Fund and the Trustee shall draw upon the Reserve Surety Policy in accordance with this Section 5.07.] Section 5.08. Rebate Fund.
(a) Establishment. The Trustee shall establish a separate fund for the 2026A Bonds designated the “Rebate Fund.” Absent an opinion of Bond Counsel that the exclusion from gross income for federal income tax purposes of interest with respect to the 2026A Bonds will not be adversely affected, the Authority shall cause to be deposited in the Rebate Fund such amounts as are required to be deposited there in pursuant to this Section and the Tax Certificate. All money at any time deposited in the Rebate Fund shall be held by the Trustee in trust for payment to the United States Treasury. All amounts on deposit in the Rebate Fund for the 2026A Bonds shall be governed by this Section and the Tax Certificate, unless and to the extent that the Authority delivers to the Trustee an opinion of Bond Counsel that the exclusion from gross income for federal income tax purposes of interest with respect to the 2026A Bonds will not be adversely affected if such requirements are not satisfied. Notwithstanding anything to the contrary contained herein or in the Tax Certificate, the Trustee: (i) shall be deemed conclusively to have complied with the provisions thereof if it follows all Requests of the Authority; and (ii) shall have no liability or responsibility to enforce compliance by the Authority with the terms of the Tax Certificate; and (iii) may rely conclusively on the Authority’s calculations and determinations and certifications relating to rebate matters; and (iv) shall have no responsibility to independently make any calculations or determinations or to review the Authority’s calculations or determinations thereunder. (i) Annual Computation. Within 55 days of the en d of every fifth Bond Year (as such term is defined in the Tax Certificate), the Authority shall calculate or cause to be 741

26 4902-1916-0721v6/022432-0050
calculated the amount of rebatable arbitrage, in accordance with Section 148(f)(2) of the Code and Section 1.148-3 of the Treasury Reg ulations (taking into account any applicable exceptions with respect to the computation of the rebatable arbitrage, described, if applicable, in the Tax Certificate (e.g., the temporary investments exceptions of Section 148(f)(4)(B) and the construction expenditures exception of Section 148(f)(4)(C) of the Code), and taking into account whether the election pursuant to Section 148(f)(4)(C)(vii) of the Code (the “1½% Penalty”) has been made), for this purpose treating the last day of the applicable Bond Year as a computation date, within the meaning of Section 1.148-1(b) of the Treasury Regulations (the “Rebatable Arbitrage”). The Authority shall obtain expert advice as to the amount of the Rebatable Arbitrage to comply with this Section. (ii) Annual Transfer. Within 55 days of the end of each Bond Year, upon the written Request of the Authority, an amount shall be deposited to the Rebate Fund by the Trustee from any Authority Revenues legally available for such purpose (as specified by the Authority in the aforesaid written Request), if and to the extent required so that the balance in the Rebate Fund shall equal the amount of Rebatable Arbitrage so calculated in accordance with clause (i) of this subsection (a). In the event that immediately following the transfer required by the previous sentence, the amount then on deposit to the credit of the Rebate Fund exceeds the amount required to be on deposit therein, upon written Request of the Authority, the Trustee shall withdraw the excess from the Rebate Fund and then credit the excess to the Revenue Fund.
(iii) Payment to the Treasury. The Trustee shall pay, as directed by Request of the Authority, to the United States Treasury, out of amounts in the Rebate Fund:
(A) Not later than 60 days after the end of: (X) the fifth Bond Year; and (Y) each applicable fifth Bond Year thereafter, an amount equal to at least 90% of the Rebatable Arbitrage calculated as of the end of such Bond Year; and (B) Not later than 60 days after the payment of all the 2026A Bonds, an amount equal to 100% of the Rebatable Arbitrage calculated as of the end of such applicable Bond Year, and any income attributable to the Rebatable Arbitrage, computed in accordance with Section 148(f) of the Code and Section 1.148-3 of the Treasury Regulations.

In the event that, prior to the time of any payment required to be made from the Rebate Fund, the amount in the Rebate Fund is not sufficient to make such payment when such payment is due, the Authority shall calculate or cause to be calculated the amount of such deficiency and deposit an amount received from any legally available source equal to such deficiency prior to the time such payment is due. Each payment required to be made pursuant to this subsection (a) shall be made to the Internal Revenue Service Center, Ogden, Utah 84201 on or before the date on which such payment is due, and shall be accompanied by Internal Revenue Service Form 8038-T (prepared by the Authority), or shall be made in such other manner as provided under the Code. (b) Disposition of Unexpended Funds. Any funds remaining in the Rebate Fund after redemption and payment of the 2026A Bonds and the payments described in subsection (a) above being made may be withdrawn by the Authority and utilized in any manner by the Authority. (c) Survival of Defeasance . Notwithstanding anything in this Section to the contrary, the obligation to comply with the requirements of this Section shall survive the defeasance or payment in full of the 2026A Bonds.
742

27 4902-1916-0721v6/022432-0050
Section 5.09. Application of Funds and Accoun ts When No 2026A Bonds are Outstanding.

On the date on which all 2026A Bonds shall be retired hereunder or provision made therefor pursuant to Article X and after payment of all amounts due the Trustee hereunder, all moneys then on deposit in any of the funds or accounts (other than the Rebate Fund) established with the Trustee pursuant to the Indenture shall be withdrawn by the Trustee and paid to the Authority for distribution in accordance with the Installment Purchase Agreement.

ARTICLE VI

PARTICULAR COVENANTS
Section 6.01. Punctual Payment. The Authority shall punctually pay or cause to be paid the principal and interest to become due in respect of all the 2026A Bonds, in strict conformity with the terms of the 2026A Bonds and of the Indenture, according to the true intent and meaning thereof, but only out of Authority Revenues and other assets pledged for such payment as provided in the Indenture.

Section 6.02. Extension of Payment of 2026A Bonds. The Authority shall not directly or indirectly extend or assent to the extension of the ma turity of any of the 2026A Bonds or the time of payment of any claims for interest by the purchase of such 2026A Bonds or by any other arrangement, and in case the maturity of any of the 2026A Bonds or the time of payment of any such claims for interest shall be extended, such 2026A Bonds or claims for interest shall not be entitled, in case of any default hereunder, to the benefits of the Indenture, except subject to the prior payment in full for the principal of all of the 2026A Bonds then Outstanding and of all claims for interest thereon which shall not have been so extended.

Section 6.03. Against Encumbrances. The Authority shall not create, or permit the creation of, any pledge, lien, charge or other encumbrances upon the Authority Revenues and other assets pledged or assigned under the Indenture while any of the 2026A Bonds are Outstanding, except the pledge and assignment created by the Indenture. Subject to this limitation, the Authority expressly reserves the right to enter into one or more other indentures for any of its corporate purposes, including other programs under the Joint Powers Agreement, and reserves the right to issue other obligations for such purposes.

Section 6.04. Power to Issue 2026A Bonds and Make Pledge and Assignment. The Authority is duly authorized p ursuant to law to issue the 2026A Bonds and to enter into the Indenture and to pledge and assign the Authority Revenues and other assets purported to be pledged and assigned under the Indenture in the manner and to the extent provided in the Indenture. Th e 2026A Bonds and the provisions of the Indenture are and will be the legal, valid and binding special obligations of the Authority in accordance with their terms, and the Authority and the Trustee shall at all times, subject to the provisions of Article VIII and to the extent permitted by law, defend, preserve and protect said pledge and assignment of Authority Revenues and other assets and all the rights of the 2026A Bond Owners under the Indenture against all claims and demands of all persons whomsoever.

Section 6.05. Accounting Records and Financial Statements. The Trustee shall at all times keep, or cause to be kept, proper books of record and account, prepared in accordance with corporate trust industry standards, in which complete and accurate entries shall be made of all transactions made by it relating to the proceeds of 2026A Bonds, the Authority Revenues and all funds and accounts established by it pursuant to the Indenture. Such books of record and account shall be available for 743

28 4902-1916-0721v6/022432-0050
inspection by the Authority and the City upon reasonable prior notice during business hours and under reasonable circumstances.

Section 6.06. Tax Covenants. Notwithstanding any other provision of the Indenture, absent an opinion of Bond Counsel that the exclusion from gross income of the portion of interest on the 2026A Bonds will not be adversely affected for federal income tax purposes, the Authority covenants to comply with all applicable requirements of the Code necessary to preserve such exclusion from gross income with respect to the 2026A Bonds and specifically covenants, without limiting the generality of the foregoing, as follows:
(a) Private Activity. The Authority will take no action or refrain from taking any action or make any use of the proceeds of the 2026A Bonds or of any other moneys or property which would cause the 2026A Bonds to be “private activity bonds” within the meaning of Section 141 of the Code;
(b) Arbitrage. The Authority will make no use of the proceeds of the 2026A Bonds or of any other amounts or property, regardless of the source, or take any action or refrain from taking any action which will cause the 2026A Bonds to be “arbitrage bonds” within the meaning of Section 148 of the Code;
(c) Federal Guarantee. The Authority will make no use of the proceed s of the 2026A Bonds or take or omit to take any action that would cause the 2026A Bonds to be “federally guaranteed” within the meaning of Section 149(b) of the Code; (d) Information Reporting . The Authority will take or cause to be taken all necessary action to comply with the informational reporting requirement of Section 149(e) of the Code necessary to preserve the exclusion of interest on the 2026A Bonds pursuant to Section 103(a) of the Code;
(e) Hedge Bonds. The Authority will make no use of the proceeds o f the 2026A Bonds or any other amounts or property, regardless of the source, or take any action or refrain from taking any action that would cause either the 2026A Bonds to be considered “hedge bonds” within the meaning of Section 149(g) of the Code unless the Authority takes all necessary action to assure compliance with the requirements of Section 149(g) of the Code to maintain the exclusion from gross income of interest on the 2026A Bonds for federal income tax purposes; and (f) Miscellaneous. The Authorit y will take no action or refrain from taking any action inconsistent with its expectations stated in that certain Tax Certificate executed by the Authority in connection with the issuance of the 2026A Bonds and will comply with the covenants and requirements stated therein and incorporated by reference herein.

This Section and the covenants that are set forth herein shall not be applicable to, and nothing that is contained herein shall be deemed to prevent the Authority from issuing revenue bonds or executing and delivering contracts that are payable on a parity with the 2026A Bonds, the interest with respect to which has been determined to be subject to federal income taxation.

Section 6.07. Payments Under Installment Purchase Agreement . The Authority shall promptly collect all Series 2026A Installment Payments due from the City pursuant to the Installment Purchase Agreement and, subject to the provisions of Article VIII, shall enforce, and take all steps, 744

29 4902-1916-0721v6/022432-0050
actions and proceedings which the Authority or the Trustee determines to be reasonably necessary for the enforcement of all of the obligations of the City thereunder.

The Authority shall not enter into any amendments to the Installment Purchase Agreement except as permitted therein. The Trustee shall give written conse nt only if: (a) such amendment, modification or termination will not materially adversely affect the interests of the 2026A Bond Owners; or (b) the Trustee first obtains the written consent of the Owners of a majority in aggregate principal amount of the 2026A Bonds then Outstanding to such amendment, modification or termination.

Section 6.08. Waiver of Laws. The Authority shall not at any time insist upon or plead in any manner whatsoever, or claim or take the benefit or advantage of, any stay or extension law now or at any time hereafter in force that may affect the covenants and agreements contained in the Indenture or in the 2026A Bonds, and all benefit or advantage of any such law or laws is hereby expressly waived by the Authority to the extent permitted by law.

Section 6.09. Further Assurances. The Authority will make, execute and deliver any and all such further indentures, instruments and assurances as may be reasonably necessary or proper to carry out the intention or to facilitate the performance of the Indenture and for th e better assuring and confirming unto the Owners of the 2026A Bonds of the rights and benefits provided in the Indenture.

Section 6.10. Eminent Domain. If all or any part of the 2026A Project shall be taken by eminent domain proceedings (or sold to a government entity threatening to exercise the power of eminent domain), the Net Proceeds therefrom shall be applied in the manner specified in Section 6.16 of the Installment Purchase Agreement.

ARTICLE VII

EVENTS OF DEFAULT AND REMEDIES OF BOND OWNERS
Section 7.01. Events of Default. The following events shall be Events of Default hereunder:
(a) Default by the Authority in the due and punctual payment of the principal of any 2026A Bonds when and as the same shall become due and payable, whether at maturity as therein expressed, by proceedings for redemption, by acceleration, or otherwise. (b) Default by the Authority in the due and punctual payment of any installment of interest on any 2026A Bonds when and as the same shall become due and payable. (c) Default by the Authority in the observance of any of the other covenants, agreements or conditions on its part in the Indenture or in the 2026A Bonds contained, if such default shall have continued for a period of thirty (30) days after written notice thereof specifying such default and requiring the same to be remedied shall have been given to the Authority by the Trustee or by the Owners of not less than a majority in aggregate principal amount of 2026A Bonds Outstanding; provided, however, that if in the reasonable opinion of the Authority the default stated in the notice can be corrected, but not within such thirty (30) day period, and corrective action is instituted by the Authority , within such thirty (30) day period and diligently pursued in good faith until the default is corrected, such default shall not be an Event of Default hereunder. 745

30 4902-1916-0721v6/022432-0050
(d) The Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any su bstantial part of its property.
(e) An Event of Default shall occur under the Installment Purchase Agreement.

Section 7.02. Remedies Upon Event of Default . If any Event of Default shall occur, then, and in each and every such case during the continuance of such Event of De fault, the Trustee may, declare the principal of all of the 2026A Bonds then Outstanding, and the interest accrued thereon, to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, any thing in the Indenture or in the 2026A Bonds contained to the contrary notwithstanding.

Nothing contained in the Indenture shall permit or require the Trustee or the Authority to accelerate payments due under the Installment Purchase Agreement if the City, which is a party to such Installment Purchase Agreement, is not in default of its obligation thereunder.

Any such declaration is subject to the condition that if, at any time after such declaration and before any judgment or decree for the payment of the moneys due shall have been obtained or entered, the Authority or the City shall deposit with the Trustee a sum sufficient to pay all the principal of and installments of interest on the 2026A Bonds payment of which is overdue, with interest on such overdue principal at the rate borne by the respective 2026A Bonds to the extent permitted by law, and the reasonable charges and expenses of the Trustee, and any and all other Events of Default known to the Trustee shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then, and in every such case the Trustee shall on behalf of the Owners of all of the 2026A Bonds, rescind and annul such declaration and its consequences and waive such Event of Default; but no such rescission and annulment shall extend to or shall affect any subsequent Event of Default, or shall impair or exhaust any right or power consequent thereon.

Section 7.03. Application of Authority Revenues and Other Funds After Default. If an Event of Default shall occur and be continuing, all Authority Revenues and any other funds then held or thereafter received by the Trustee under any of the provisions of the Indenture (other than amounts held in the Rebate Fund) shall be applied by the Trustee as follows and in the following order:
(i) To the payment of any expenses necessary in the opinion of the Trustee to protect the interests of the Owners of the 2026A Bonds and payment of reasonable fees and expenses of the Trustee (inclu ding reasonable fees and disbursements of accountants and counsel) incurred in and about the performance of its powers and duties under the Indenture; (ii) To the payment of the principal of and interest then due on the 2026A Bonds (upon presentation of the 2026A Bonds to be paid, and stamping or otherwise noting thereon of the payment if only partially paid, or surrender thereof if fully paid) in accordance with the provisions of the Indenture, in the following order of priority:
746

31 4902-1916-0721v6/022432-0050
First: To the payment to the persons entitled thereto of all installments of interest then due in the order of the maturity of such installments, and, if the amount available shall not be sufficient to pay in full any installment or installments maturing on the same date, then to the payment thereof ratably, according to the amounts due thereon, to the persons entitled thereto, without any discrimination or preference; and
Second: To the payment to the persons entitled thereto of the unpaid principal of any 2026A Bonds which shall have become due, whether at maturity or by acceleration or redemption, with interest on the overdue principal at the rate of eight percent (8%) per annum, and, if the amount available shall not be sufficient to pay in full all the 2026A Bonds, together with such interest, then to the payment thereof ratably, according to the amounts of principal due on such date to the persons entitled thereto, without any discrimination or preference; and Third: If there shall exist any remainder after the foregoing payments, such remainder shall be paid to the Authority.

Section 7.04. Trustee to Represent 2026A Bond Owners. The Trustee is hereby irrevocably appointed (and the successive respective Owners of the 2026A Bonds, by taking and holding the same, shall be conclusively deemed to have so appointed the Trustee) as trustee and true and lawful attorney in fact of the Owners of the 2026A Bonds for the purpose of exercising and prosecuting on their behalf such rights and remedies as may be available to such Owners under the provisions of the 2026A Bonds or the Indenture and applicable provisions of any other law. Upon the occurrence and continuance of an Event of Default or other occasion giving rise to a right in the Trustee to represent the 2026A Bond Owners, the Trustee in its discretion may, and upon the written request of the Owners of a majority in aggregate principal amount of the 2026A Bonds then Outstanding, and upon being indemnified to its satisfaction therefor, shall proceed to protect or enforce its rights or the rights of such Owners by such appropriate action, suit, mandamus or other proceedings as it shall deem most effectual to protect and enforce any such right, at law or in equity, either for the specifi c performance of any covenant or agreement contained herein, or in aid of the execution of any power herein granted, or for the enforcement of any other appropriate legal or equitable right or remedy vested in the Trustee or in such Owners under the 2026A Bonds or the Indenture or any other law; and upon instituting such proceeding, the Trustee shall be entitled, as a matter of right, to the appointment of a receiver of the Authority Revenues and other assets pledged under the Indenture, pending such proceedings. All rights of action under the Indenture or the 2026A Bonds or otherwise may be prosecuted and enforced by the Trustee without the possession of any of the 2026A Bonds or the production thereof in any proceeding relating thereto, and any such suit, action or proceeding instituted by the Trustee shall be brought in the name of the Trustee for the benefit and protection of all the Owners of such 2026A Bonds, subject to the provisions of the Indenture. Except to the extent provided in the Section 7.10 , nothing herein shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Owner any plan of reorganization, arrangement, adjustment, or composition affecting the 2026A Bonds or the rights of any Owner thereof, or to authorize the Trustee to vote in respect of the claim of any Owner in any such proceeding without the approval of the Owners so affected.

Section 7.05. 2026A Bond Owners’ Direction of Proceedings. Anything in the Indenture to the contrary notwithstanding, the Ow ners of a majority in aggregate principal amount of the 2026A Bonds then Outstanding shall have the right, by an instrument or concurrent instruments in writing executed and delivered to the Trustee, and upon indemnification of the Trustee to its reasonabl e satisfaction to direct the method of conduct in all remedial proceedings taken by the Trustee hereunder, provided that such direction shall not be otherwise than in accordance with law and the provisions of 747

32 4902-1916-0721v6/022432-0050
the Indenture, and that the Trustee shall have the right to decline to follow any such direction which in the opinion of the Trustee would be unjustly prejudicial to 2026A Bond Owners not parties to such direction.

Section 7.06. Suit by Owners. No Owner of any 2026A Bonds shall have the right to institute any suit, action or proceeding at law or in equity, for the protection or enforcement of any right or remedy under the Indenture, the Installment Purchase Agreement, the Joint Powers Agreement or any other applicable law with respect to such 2026A Bonds, unless: (a) such Owners shall have given to the Trustee written notice of the occurrence of an Event of Default; (b) the Owners of not less than twenty five percent (25%) in aggregate principal amount of the 2026A Bonds then Outstanding shall have made written request upon the Trustee to exercise the powers hereinbefore granted or to institute such suit, action or proceeding in its own name; (c) such Owner or Owners shall have tendered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; (d) the Trustee shall have failed to comply with such request for a period of sixty (60) days after such written request shall have been received by, and said tender of indemnity shall have been made to, the Trustee; and (e) no direction inconsistent with such written request shall have been given to the Trustee during such sixty (60) day period by the Owners of a majority in aggregate principal amount of the 2026A Bonds then Outstanding.

Such notification, request, tender of indemnity and refusal or omission are hereby declared, in every case, to be conditions precedent to the exercise by any Owner of 2026A Bonds of any remedy hereunder or under law; it being understood and intended that no one or more Owners of 2026A Bonds shall have any right in any manner whatever by his or their action to affect, disturb or prejudice the security of the Indenture or the rights of any other Owners of 2026A Bonds, or to enforce any right under the 2026A Bonds, the Indenture, th e Installment Purchase Agreement, the Joint Powers Agreement or other applicable law with respect to the 2026A Bonds, except in the manner herein provided, and that all proceedings at law or in equity to enforce any such right shall be instituted, had and maintained in the manner herein provided and for the benefit and protection of all Owners of the Outstanding 2026A Bonds, subject to the provisions of the Indenture.

Section 7.07. Absolute Obligation of the Authority . Nothing in this Section 7.07 or in any other provision of the Indenture or in the 2026A Bonds contained shall affect or impair the obligation of the Authority, which is absolute and unconditional, to pay the principal of and interest on the 2026A Bonds to the respective Owners of the 2026A Bonds at their respective dates of maturity, or upon call for redemption, as herein provided, but only out of the Authority Revenues and other assets herein pledged therefor, or affect or impair the right of such Owners, which is also absolute and unconditional, to enforce such payment by virtue of the contract embodied in the 2026A Bonds.

Section 7.08. Remedies Not Exclusive. No remedy herein conferred upon or reserved to the Trustee or to the Owners of the 2026A Bonds is intended to be exclusive of any other remedy or remedies, and each and every such remedy, to the extent permitted by law, shall be cumulative and in addition to any other remedy given hereunder or now or hereafter existing at law or in equity or otherwise.

Section 7.09. No Waiver of Default. No delay or omission of the Trustee or of any Owner of the 2026A Bonds to exercise any right or power arising upon the occurrence of any Event of Default shall impair any such right or power or shall be construed to be a waiver of any such Event of Default or an acquiescence therein.
748

33 4902-1916-0721v6/022432-0050

ARTICLE VIII

THE TRUSTEE
Section 8.01. Duties, Immunities and Liabilities of Trustee. (a) The Trustee shall, prior to an Event of Default, and after the curing or waiver of all Events of Default which may have occurred, perform such d uties and only such duties as are expressly and specifically set forth in the Indenture. These duties shall be deemed purely ministerial in nature, the Trustee shall not be liable except for the performance of such duties , and no implied covenants or duties shall be read into the Indenture against the Trustee. The Trustee shall, during the existence of any Event of Default (which has not been cured or waived), exercise such of the rights and powers vested in it by the Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs.
(b) The Authority may remove the Trustee at any time, unless an Event of Default shall have occurred and then be continuing, and shall remove the Trustee if at any time requested to do so by an instrument or concurrent instruments in writing signed by the Owners of not less than a majority in aggregate principal amount of the 2026A Bonds then Outstanding (or their attorneys duly authorized in writing) or if at any time the Trustee shall cease to be eligible in accordance with subsection (e) of this Section, or shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or its property shall be appointed, or any public officer shall take control or charge of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, in each case by giving written notice of such removal to the Trustee and thereupon shall promptly appoint a successor Trustee by an instrument in writing. (c) The Trustee may at any time resign and be discharged from its duties and obligations hereunder by giving thirty (30) calendar days’ written notice of such resignati on to the Authority and by giving the 2026A Bond Owners notice of such resignation (which notice may be by electronic means) . Upon receiving such notice of resignation, the Authority shall promptly appoint a successor Trustee by an instrument in writing. (d) Any removal or resignation upon thirty (30) calendar days’ prior notice of the Trustee and appointment of a successor Trustee shall become effective upon acceptance of appointment by the successor Trustee. If no successor Trustee shall have been appointed and have accepted appointment within forty five (45) calendar days of giving notice of removal or notice of resignation as aforesaid, the resigning Trustee (at the sole cost and expense of the Authority, including with respect to reasonable attorneys’ fee s and expenses) or any 2026A Bond Owner (on behalf of himself and all other 2026A Bond Owners) may petition any court of competent jurisdiction for the appointment of a successor Trustee and for other appropriate relief , and such court may thereupon, after such notice (if any) as it may deem proper, appoint such successor Trustee and grant such other relief. Any successor Trustee appointed under the Indenture shall signify its acceptance of such appointment by executing and delivering to the Authority and to its predecessor Trustee a written acceptance thereof, and thereupon such successor Trustee, without any further act, deed or conveyance, shall become vested with all the moneys, estates, properties, rights, powers, trusts, duties and obligations of such predecessor Trustee, with like effect as if originally named Trustee herein; but, nevertheless at the Request of the Authority or the request of the successor Trustee, such predecessor Trustee shall execute and deliver any and all instruments of conveyanc e or further 749

34 4902-1916-0721v6/022432-0050
assurance and do such other things as may reasonably be required for more fully and certainly vesting in and confirming to such successor Trustee all the right, title and interest of such predecessor Trustee in and to any property held by it under the Indenture and shall pay over, transfer, assign and deliver to the successor Trustee any money or other property subject to the trusts and conditions herein set forth. Upon request of the successor Trustee, the Authority shall execute and deliver any and all instruments as may be reasonably required for more fully and certainly vesting in and confirming to such successor Trustee all such moneys, estates, properties, rights, powers, trusts, duties and obligations. Upon acceptance of appointment by a successor Trustee as provided in this subsection, the Authority shall mail or cause the successor trustee to mail a notice of the succession of such Trustee to the trusts hereunder to each rating agency which is then rating the 2026A Bonds and to the 2026A Bond Owners at the addresses shown on the Registration Books. If the Authority fails to mail such notice within fifteen (15) days after acceptance of appointment by the successor Trustee, the successor Trustee shall cause such notice to be mailed at the expense of the Authority. (e) Any Trustee appointed under the provisions of this Section in succession to the Trustee shall be a trust company, banking association or bank having the powers of a trust company, having a combined capital and surplus of at leas t Seventy Five Million Dollars ($75,000,000), and subject to supervision or examination for federal or state authority. If such bank, banking association or trust company publishes a report of condition at least annually, pursuant to law or to the requirements of any supervising or examining authority above referred to, then for the purpose of this subsection the combined capital and surplus of such trust company, banking association or bank shall be deemed to be its combined capital and surplus as set for th in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this subsection (e), the Trustee shall resign immediately in the manner and with the effect specified in this Section.

Section 8.02. Merger or Consolidation. Any trust company, banking association or bank into which the Trustee may be merged or converted or with which it may be consolidated or any trust company, banking association or bank resulting from any merger, conversion or consolidation to which it shall be a party or any trust company, banking association or bank to which the Trustee may sell or transfer all or substantially all of its corporate trust business, provided such trust company, banking association or bank shall be eligible under subsection (e) of Section 8.01, shall be the successor to such Trustee, without the execution or filing of any paper or any further act, anything herein to the contrary notwithstanding.

Section 8.03. Liability of Trustee.
(a) The recitals of facts herein and in the 2026A Bonds contained shall be taken as statements of the Authority, and the Trustee shall not assume responsibility for the correctness of the same, or make any representations as to the validity or sufficiency of the Indenture, the 2026A Bonds or the Installment Purchase Agreement, nor shall the Trustee incur any responsibility in respect thereof, other than as specifically and expressly stated herein in connection with the respective duties or obligations herein or in the 2026A Bonds assigned to or imposed upon it. The Trustee shall, however, be responsible for its representations contained in its certificate of authentication on the 2026A Bonds. The Trustee shall not be liable in connection with the performance of its duties hereunder, except for its own negligence or willful misconduct , as finally adjudicated by a court of competent jurisdiction. The Trustee may become the Owner of 2026A Bonds with the same rights it would have if it were not Trustee, and, to the extent permitte d by law, may act as depository for and permit any of its officers or directors to act as a member of, or in any other capacity with respect 750

35 4902-1916-0721v6/022432-0050
to, any committee formed to protect the rights of 2026A Bond Owners, whether or not such committee shall represent the Owners of a majority in principal amount of the 2026A Bonds then Outstanding.
(b) The Trustee shall not be liable for any action taken or error of judgment made in good faith by it or any of its directors, officers, employees, attorneys or agents , unless it shall be finally adjudicated by a court of competent jurisdiction that the Trustee was negligent in ascertaining the pertinent facts.
(c) The Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordanc e with the direction of the Owners of not less than a majority (or such other percentage provided for herein) in aggregate principal amount of the 2026A Bonds at the time Outstanding relating to the time, method and place of conducting any proceeding for a ny remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under the Indenture.
(d) The Trustee shall not be liable for any action taken by it in good faith and believed by it to be authorized or within the discretion or ri ghts or powers conferred upon it by the Indenture.
(e) The Trustee shall not be deemed to have knowledge of any default or Event of Default hereunder or under the Installment Purchase Agreement or any other event which, with the passage of time, the giving of notice, or both, would constitute an Event of Default hereunder or under the Installment Purchase Agreement unless and until a Responsible Officer of the Trustee shall have actual knowledge of such event or the Trustee shall have been notified in writing, in accordance with Section 11.07, of such event by the Authority or the Owners of not less than twenty five percent (25%) of the 2026A Bonds then Outstanding. Except as otherwise expressly provided herein, the Trustee shall not be bound to ascertain or in quire as to the performance or observance by the Authority or the City of any of the terms, conditions, covenants or agreements herein, or under the Installment Purchase Agreement, of any of the documents executed in connection with the 2026A Bonds, or as to the existence of an Event of Default thereunder or an event which would, with the giving of notice, the passage of time, or both, constitute an Event of Default thereunder. The Trustee shall not be responsible for the validity, effectiveness or priority of any collateral given to or held by it.
(f) No provision of the Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of its duties hereunder, or in the exercise of any of its rights or powers.
(g) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by the Indenture at the request or direction of Owners pursuant to the Indenture, unless such Owners shall have furnished to the Trustee security or indemnity (satisfactory to the Trustee in its sole and absolute discretion) against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. No permissive power, right or remedy conferred upon the Tr ustee hereunder shall be construed to impose a duty to exercise such power, right or remedy and the Trustee shall not be answerable for other than its negligence or willful misconduct , as finally adjudicated by a court of competent jurisdiction. 751

36 4902-1916-0721v6/022432-0050
(h) Whether or not herein expressly so provided, every provision of the Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Article VIII.
(i) The Trustee shall have no re sponsibility with respect to any information, statement, or recital in any official statement, offering memorandum or any other disclosure material prepared or distributed with respect to the 2026A Bonds. (j) The immunities extended to the Trustee also extend to its directors, officers, employees and agents.
(k) The Trustee may execute any of the trusts or powers of the Indenture and perform any of its duties through attorneys, agents and receivers and shall not be answerable for the conduct of the same if appointed by it with reasonable care. (l) The Trustee shall not be considered in breach of or in default in its obligations hereunder or progress in respect thereto in the event of enforced delay (“unavoidable delay”) in the performance of such obligations due to caus es beyond its control which affect the Trustee’s ability to perform its obligation hereunder, including, but not limited to, Acts of God or of the public enemy or terrorists, acts of a government, acts of the other party, fires, floods, epidemics, quaranti ne restrictions, strikes, freight embargoes, earthquakes, explosion, mob violence, riot, inability to procure or general sabotage or rationing of labor, equipment, facilities, sources of energy, material or supplies in the open market, litigation or arbitration involving a party or others relating to zoning or other governmental action or inaction pertaining to the 2026A Project, malicious mischief, condemnation, unusually severe weather or delays of suppliers or subcontractors due to such causes, the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility, or any other event and/or occurrences similar to any of the foregoing beyond the control of the Trustee.
(m) The Trustee shall be entitled to request and receive writt en instructions from Authority and shall have no responsibility or liability for any losses or damages of any nature that may arise from any action taken or not taken by the Trustee in accordance with the written direction of Authority. The Trustee shall h ave the right to accept and act upon instructions, including funds transfer instructions (“Instructions”) given pursuant to this Indenture and delivered using Electronic Means (“Electronic Means” means the following communications methods: e-mail, facsimil e transmission, secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee, or another method or system specified by the Trustee as available for use in connection with its services hereunder); provided, however, that the Authority shall provide to the Trustee an incumbency certificate listing officers with the authority to provide such Instructions (“Authorized Officers”) and containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended by the Authority, whenever a person is to be added or deleted from the listing. If the Authority elects to give the Trustee Instructions using Electronic Means and the Trustee in its discretion elects to act upon such Instructions, the Trustee’s understanding of such Instructions shall be deemed controlling. The Authority understands and agrees that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to have been sent by an Authorized Officer listed on the incumbency certificate provided to the Trustee have been sent by such Authorized Officer. The Authority shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and that the Authority and all 752

37 4902-1916-0721v6/022432-0050
Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication ke ys upon receipt by the Authority. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions notwithstanding such directions conflict or are inconsistent with a subsequent written instruction. The Authority agrees: (i) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized Ins tructions, and the risk of interception and misuse by third parties; (ii) that it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and that there may be more secure methods of transmitting Instructions than the method(s) selected by the Authority; (iii) that the security procedures (if any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable degree of protection in light of it s particular needs and circumstances; and (iv) to notify the Trustee immediately upon learning of any compromise or unauthorized use of the security procedures.
(n) Notwithstanding the effective date of this Indenture or anything to the contrary in this Indenture, the Trustee shall have no liability or responsibility for any act or event relating to this Indenture which occurs prior to the date the Trustee formally executes this Indenture and commences acting as Trustee hereunder.
(o) The Trustee shall not be conc erned with or accountable to anyone for the subsequent use or application of any moneys which shall be released or withdrawn in accordance with the provisions hereof.
(p) The permissive right of the Trustee to do things enumerated herein shall not be construed as a duty and it shall not be answerable for other than its negligence or willful misconduct, as finally adjudicated by a court of competent jurisdiction. (q) The Trustee shall have no responsibility or liability with respect to any information, statements or recital in any offering memorandum or other disclosure material prepared or distributed with respect to the issuance of the 2026A Bonds. (r) In no event shall the Trustee be responsible or liable for special, indirect, punitive, incidental or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood o f such loss or damage and regardless of the form of action. (s) The Trustee may execute any of the trusts or powers hereof and perform the duties required of it hereunder either directly or by or through attorneys or agents and shall be entitled to rely on and shall not be liable for any action taken or omitted to be taken by the Trustee in accordance with the advice of counsel or other professionals retained or consulted by the Trustee concerning all matters of trust and its duties hereunder and shall be absolutely protected in relying thereon. The Trustee shall not be responsible for the acts or omissions of such attorneys or agents selected by it with due care. The Trustee may, at the expense of Authority, request, rely on and act in accordance with officer’s certificates and/or opinions of counsel, and shall incur no liability and shall be fully protected in acting or refraining from acting in accordance with such officer’s certificates and opinions of counsel.
753

38 4902-1916-0721v6/022432-0050
(t) Neither the Trustee nor any of its directo rs, officers, employees, agents or affiliates shall be responsible for nor have any duty to monitor the performance or any action of the Authority, or any of their directors, members, officers, agents, affiliates or employee, nor shall it have any liabilit y in connection with the malfeasance or nonfeasance by such party. The Trustee may assume performance by all such Persons of their respective obligations. The Trustee shall have no enforcement or notification obligations relating to breaches of representa tions or warranties of any other Person.

Section 8.04. Right to Rely on Documents . The Trustee shall be protected in acting upon any notice, resolution, requisition, request, consent, order, judgment, decree, certificate, report, opinion, notes, direction, facsimile transmission, electronic mail or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties , not only as to due execution, validity and effectiveness, but also as to the truth and accuracy of any information contained therein. The Trustee may consult with counsel, who may be counsel of or to the Authority, with regard to legal questions, and the opinion of such counsel shall be full and complete authorization and protection in respect of any action taken or suffered by it hereunder in good faith and in accordance therewith.

The Trustee may treat the Owners of the 2026A Bonds appearing in the Trustee’s Registration Books as the absolute owners of the 2026A Bonds for all purposes and the Trustee shall not be affected by any notice to the contrary.

Whenever in the administration of the trusts imposed upon it by the Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering any action h ereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a Certificate, Request or Requisition of the Authority, and such Certificate, Request or Requisiti on shall be full warrant to the Trustee for any action taken or suffered in good faith under the provisions of the Indenture in reliance upon such Certificate, Request or Requisition, but in its discretion the Trustee may, in lieu thereof, accept other evi dence of such matter or may require such additional evidence as it may deem reasonable.

Section 8.05. Preservation and Inspection of Documents . All documents received by the Trustee under the provisions of the Indenture shall be retained in their respective possession and shall be subject at all reasonable times to the inspection of the Authority, the City and any 2026A Bond Owner, and their agents and representatives duly authorized in writing, at reasonable hours and under reasonable conditions.

Section 8.06. Compensation and Indemnification. The Authority and the City shall pay to the Trustee from time to time all reasonable compensation for all services rendered under the Indenture, and also all reasonable expenses, charges, legal and consulting fees and other disbursements and those of their attorneys, agents and employees, incurred in and about the performance of their powers and duties under the Indenture.

The Authority and the City shall indemnify, defend and hold harmless the Trustee, its officers, employees, directors, attorneys and agents from and against any loss, costs, claims, liability or expense (including fees, costs and expenses of its attorneys and advisors) incurred without negligence or willful misconduct on its part (as finally adjudicated by a court of competent jurisdiction), arising out of or in connection with the execution of the Indenture, acceptance or administration of this trust, including 754

39 4902-1916-0721v6/022432-0050
costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers hereunder. The rights of the Trustee and the obligations of the Authority under this Section 8.06 shall survive removal or resignation of the Trustee hereunder or the discharge of the 2026A Bonds and the Indenture.

ARTICLE IX

MODIFICATION OR AMENDMENT OF THE INDENTURE
Section 9.01. Amendments Permitted.
(a) The Indenture and the rights and obligations of the Authority and of the Owners of the 2026A Bonds and of the Trustee may be modified or amended from time to time and at any time by an indenture or indentures supplemental thereto, which the Authority and the Trustee may enter into with the written consent of the Owners of a majority in aggregate principal amount of 2026A Bond Outstanding, shall have been filed with the Trustee. No such modification or amendment shall: (1) extend the fixed maturity of any 2026A Bonds, or reduce the amount of principal thereof or premium (if any) thereon, or extend the time of payment, or change the rate of interest or the method of computing the rate of interest thereon, or extend the time of payment of interest thereon, without the consent of the Owner of each 2026A Bond so affected; or (2) reduce the aforesaid percentage of 2026A Bonds the consent of the Owners of which is requ ired to effect any such modification or amendment, or permit the creation of any lien on the Authority Revenues and other assets pledged under the Indenture prior to or on a parity with the lien created by the Indenture except as permitted herein, or depr ive the Owners of the 2026A Bonds of the lien created by the Indenture on such Authority Revenues and other assets except as permitted herein, without the consent of the Owners of all of the 2026A Bonds then Outstanding. It shall not be necessary for the consent of the 2026A Bond Owners to approve the particular form of any Supplemental Indenture, but it shall be sufficient if such consent shall approve the substance thereof. Promptly after the execution by the Authority and the Trustee of any Supplemental Indenture pursuant to this subsection (a), the Trustee shall mail a notice, setting forth in general terms the substance of such Supplemental Indenture, to each Rating Agency and the Owners of the 2026A Bonds at the respective addresses shown on the Registration Books. Any failure to give such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such Supplemental Indenture. (b) The Indenture and the rights and obligations of the Authority, the Trustee and the Owners of the 2026A Bonds may also be modified or amended from time to time and at any time by a Supplemental Indenture, which the Authority and the Trustee may enter into without the consent of any 2026A Bond Owners, if the Trustee shall receive an opinion o f Bond Counsel to the effect that the provisions of such Supplemental Indenture shall not materially adversely affect the interests of the Owners of the Outstanding 2026A Bonds, including, without limitation, for any one or more of the following purposes:
(1) to add to the covenants and agreements of the Authority contained in the Indenture other covenants and agreements thereafter to be observed, to pledge or assign additional security for the 2026A Bonds (or any portion thereof), or to surrender any right or power herein reserved to or conferred upon the Authority;
(2) to make such provisions for the purpose of curing any ambiguity, inconsistency or omission, or of curing or correcting any defective provision, contained in the 755

40 4902-1916-0721v6/022432-0050
Indenture, or in regard to matters or questions arising under the Indenture, as the Authority may deem necessary or desirable;
(3) to modify, amend or supplement the Indenture in such manner as to permit the qualification hereof under the Trust Indenture Act of 1939, as amended, or an y similar federal statute hereunder in effect, and to add such other terms conditions and provisions as may be permitted by said act or similar federal statute; and
(4) to modify, amend or supplement the Indenture in such manner as to cause interest on the 2026A Bonds to remain excludable from gross income under the Code. (c) The Trustee may in its discretion, but shall not be obligated to, enter into any such Supplemental Indenture authorized by subsections (a) or (b) of this Section which materially adversely affects the Trustee’s own rights, duties or immunities under the Indenture or otherwise. (d) Prior to the Trustee entering into any Supplemental Indenture hereunder, there shall be delivered to the Trustee an opinion of Bond Counsel stating, in substance, th at such Supplemental Indenture has been adopted in compliance with the requirements of the Indenture and that the adoption of such Supplemental Indenture will not, in and of itself, adversely affect the exclusion of interest on the 2026A Bonds from federal income taxation and from state income taxation.

Section 9.02. Effect of Supplemental Indenture . Upon the execution of any Supplemental Indenture pursuant to this Article, the Indenture shall be deemed to be modified and amended in accordance therewith, and the respect ive rights, duties and obligations under the Indenture of the Authority, the Trustee , and all Owners of 2026A Bonds Outstanding shall thereafter be determined, exercised and enforced thereunder subject in all respects to such modification and amendment, and all the terms and conditions of any such Supplemental Indenture shall be deemed to be part of the terms and conditions of the Indenture for any and all purposes.

Section 9.03. Endorsement of 2026A Bonds; Preparation of New 2026A Bonds. 2026A Bonds delivered after the execution of any Supplemental Indenture pursuant to this Article may, and if the Trustee so determines, shall, bear a notation by endorsement or otherwise in form approved by the Authority and the Trustee as to any modification or amendment provided for in such Supplemental Indenture, and, in that case, upon demand on the Owner of any 2026A Bonds Outstanding at the time of such execution and presentation of his or her 2026A Bonds for the purpose at the Office of the Trustee or at such additional offices as the Trustee may select and designate for that purpose, a suitable notation shall be made on such 2026A Bonds. If the Supplemental Indenture shall so provide, new 2026A Bonds so modified as to conform, in the opinion of the Authority and the Trustee, to any modification or amendment contained in such Supplemental Indenture, shall be prepared and executed by the Authority and authenticated by the Trustee, and upon demand on the Owners of any 2026A Bonds then Outstanding shall be exchang ed at the Office of the Trustee, without cost to any 2026A Bond Owner, for 2026A Bonds then Outstanding, upon surrender for cancellation of such 2026A Bonds, in equal aggregate principal amount of the same maturity.

Section 9.04. Amendment of Particular 2026A Bonds. Th e provisions of this Article shall not prevent any 2026A Bond Owner from accepting any amendment as to the particular 2026A Bonds held by him.
756

41 4902-1916-0721v6/022432-0050

ARTICLE X

DEFEASANCE
Section 10.01. Discharge of Indenture . The 2026A Bonds may be paid by the Authority in any of the following ways, provided that the Authority also pays or causes to be paid any other sums payable hereunder by the Authority:
(a) by paying or causing to be paid the principal of and interest and redemption premiums (if any) on the 2026A Bonds, as and when the same become due and payable; (b) by depositing with the Trustee, in trust, at or before maturity, money or securities in the necessary amount (as provided in Section 10.03) to pay or redeem all 2026A Bonds then Outstanding; or
(c) by delivering to the Trustee, for cancellation by it, all of the 2026A Bonds then Outstanding.

If the Authority shall also pay or cause to be paid all other sums payable hereunder by the Authority, then and in that case, at the election of the Authority (as evidenced by a Certificate of the Authority, filed with the Trustee, signifying the intention of the Authority to discharge all such indebtedness and the Indenture), and notwithstanding that any 2026A Bonds shall not have been surrendered for payment, the Indenture and the pledge of Authority Revenues and other assets made under the Indenture and all covenants, agreements and other obligations of the Authority under the Indenture shall cease, terminate, become void and be completely discharge d and satisfied. In such event, upon the Request of the Authority, the Trustee shall execute and deliver to the Authority all such instruments as may be necessary or desirable to evidence such discharge and satisfaction, and the Trustee shall pay over, transfer, assign or deliver all moneys or securities or other property held by it pursuant to the Indenture which are not required for the payment or redemption of 2026A Bonds not theretofore surrendered for such payment or redemption to the Authority.

Section 10.02. Discharge of Liability on 2026A Bonds. Upon the deposit with the Trustee, in trust, at or before maturity, of money or securities in the necessary amount (as provided in Section

10.03) to pay or redeem any Outstanding 2026A Bonds (whether upon or prior to the maturity or the redemption date of such 2026A Bonds), provided that, if such Outstanding 2026A Bonds are to be redeemed prior to maturity, notice of such redemption shall have been given as provided in Article IV or provisions satisfactory to the Trustee s hall have been made for the giving of such notice, then all liability of the Authority in respect of such 2026A Bonds shall cease, terminate and be completely discharged, and the Owners thereof shall thereafter be entitled only to payment out of such money or securities deposited with the Trustee as aforesaid for their payment, subject however, to the provisions of Section 10.04.

The Authority may at any time surrender to the Trustee for cancellation by it any 2026A Bonds previously issued and delivered, wh ich the Authority may have acquired in any manner whatsoever, and such 2026A Bonds, upon such surrender and cancellation, shall be deemed to be paid and retired.

Section 10.03. Deposit of Money or Securities with Trustee . Whenever in the Indenture it is provided or permitted that there be deposited with or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any 2026A Bonds, the money or securities so to be deposited 757

42 4902-1916-0721v6/022432-0050
or held may inclu de money or securities held by the Trustee in the funds and accounts established pursuant to the Indenture and shall be:
(a) lawful money of the United States of America in an amount equal to the principal amount of such 2026A Bonds and all unpaid interest thereon to maturity, except that, in the case of 2026A Bonds which are to be redeemed prior to maturity and in respect of which notice of such redemption shall have been given as provided in Article IV or provisions satisfactory to the Trustee shall have been made for the giving of such notice, the amount to be deposited or held shall be the principal amount of such 2026A Bonds and all unpaid interest and premium, if any, thereon to the redemption date; or
(b) Federal Securities the principal of and interest on which when due will, in the written opinion of an Independent Certified Public Accountant filed with the Authority and the Trustee, provide money sufficient to pay the principal of and all unpaid interest to maturity, or to the redemption date (with premium, if any), as the case may be, on the 2026A Bonds to be paid or redeemed, as such principal, interest and premium, if any, become due, provided that in the case of 2026A Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice;
provided, in each case, that: (i) the Trustee shall have been irrevocably instructed (by the terms of the Indenture or by Written Request of the City) to apply such money to the payment of such principal, interest and premium, if any, with respect to such 2026A Bonds as directed by the City; (ii) the City shall have delivered to the Trustee an opinion of Bond Counsel addressed to the City and the Trustee to the effect that such 2026A Bonds have been discharged in accordance with the Indenture (which opinion may rely upon and assume the accuracy of the Independent Certified Public Accountant’s or Independent Financial C onsultant’s opinion referred to above); (iii) the City shall have delivered an escrow agreement; and (iv) the City shall have delivered a certificate of discharge of the Trustee with respect to the 2026A Bonds. The opinion of Bond Counsel and Independent Certified Public Accountant’s or Independent Financial Consultant’s opinion referred to above shall be acceptable in form and substance, and addressed, to the City and Trustee.

The 2026A Bonds shall be deemed Outstanding under this Indenture unless and until they are in fact paid and retired or the above criteria are met.

Section 10.04. Payment of 2026A Bonds After Discharge of Indenture. Notwithstanding any provisions of the Indenture, any moneys held by the Trustee in trust for the payment of the principal of, or interest on, any 2026A Bonds and remaining unclaimed for two (2) years after the principal of all of the 2026A Bonds has become due and payable (whether at maturity or upon call for redemption or by acceleration as provided in the Indenture), if such moneys were so held at such date, or two (2) years after the date of deposit of such moneys if deposited after said date when all of the 2026A Bonds became due and payable, shall be repaid to the Authority (without liability for interest) free from the trusts cre ated by the Indenture upon receipt of an indemnification agreement acceptable to the Authority and the Trustee indemnifying the Trustee with respect to claims of Owners of 2026A Bonds which have not yet been paid, and all liability of the Trustee with resp ect to such moneys shall thereupon cease; provided, however, that before the repayment of such moneys to the Authority as aforesaid, the Trustee shall at the written direction of the Authority (at the cost of the Authority) first mail to the Owners of 2026A Bonds which have not yet been paid, at the addresses shown on the Registration Books, a notice, in such form as may be deemed appropriate by the Trustee with respect 758

43 4902-1916-0721v6/022432-0050
to the 2026A Bonds so payable and not presented and with respect to the provisions r elating to the repayment to the Authority of the moneys held for the payment thereof.

ARTICLE XI

MISCELLANEOUS
Section 11.01. Liability of Authority Limited to Authority Revenues . Notwithstanding anything in the Indenture or the 2026A Bonds, the Authority shall not be required t o advance any moneys derived from any source other than the Authority Revenues and other moneys pledged under the Indenture for any of the purposes in the Indenture mentioned, whether for the payment of the principal of or interest on the 2026A Bonds or for any other purpose of the Indenture. Nevertheless, the Authority may, but shall not be required to, advance for any of the purposes hereof any funds of the Authority which may be made available to it for such purposes.

The 2026A Bonds are not a debt of the members of the Authority, the State or any of its political subdivisions (other than the Authority) and neither the members of the Authority, said State nor any of its political subdivisions (other than the Authority) is liable herein. The City shall have no liability or obligation herein except with respect to Series 2026A Installment Payments payable under the Installment Purchase Agreement.

Section 11.02. Successor Is Deemed Included in All References to Predecessor. Whenever in the Indenture either the Authority or the Trustee is named or referred to, such reference shall be deemed to include the successors or assigns thereof, and all the covenants and agreements in the Indenture contained by or on behalf of the Authority or the Trustee shall bind and inure to t he benefit of the respective successors and assigns thereof whether so expressed or not.

Section 11.03. Limitation of Rights to Parties and 2026A Bond Owners. Nothing in the Indenture or in the 2026A Bonds expressed or implied is intended or shall be construed to give to any person other than the Authority, the Trustee, the City, the Insurer and the Owners of the 2026A Bonds, any legal or equitable right, remedy or claim under or in respect of the Indenture or any covenant, condition or provision therein or herein contai ned; and all such covenants, conditions and provisions are and shall be held to be for the sole and exclusive benefit of the Authority, the Trustee, the City, the Insurer and the Owners of the 2026A Bonds.

Section 11.04. Waiver of Notice; Requirement of Mailed Notice. Whenever in the Indenture the giving of notice by mail or otherwise is required, the giving of such notice may be waived in writing by the person entitled to receive such notice and in any such case the giving or receipt of such notice shall not be a condit ion precedent to the validity of any action taken in reliance upon such waiver.

Whenever in the Indenture any notice shall be required to be given by mail, such requirement shall be satisfied by the deposit of such notice in the United States mail, postage prepaid, by first class mail.

Section 11.05. Destruction of 2026A Bonds. Whenever in the Indenture provision is made for the cancellation by the Trustee and the delivery to the Authority of any 2026A Bonds, the Trustee shall destroy such 2026A Bonds as may be allowed by law, and deliver a certificate of such destruction to the Authority.

Section 11.06. Entire Agreement; Severability of Invalid Provisions. This Indenture and the exhibits hereto set forth the entire agreement and understanding of the parties related to this transaction 759

44 4902-1916-0721v6/022432-0050
and supersedes all prior agreements and understandings, oral or written . If any one or more of the provisions contained in the Indenture or in the 2026A Bonds shall for any reason be held to be invalid, illegal or unenforceable in any respect, then such provision or provisions shall be deemed severable from the remaining provisions contained in the Indenture and such invalidity, illegality or unenforceability shall not affect any other provision of the Indenture, and the Indenture shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein. The Authority hereby declares that it would have entered into the Indentu re and each and every other Section, paragraph, sentence, clause or phrase hereof and authorized the issuance of the 2026A Bonds pursuant thereto irrespective of the fact that any one or more Sections, paragraphs, sentences, clauses or phrases of the Indenture may be held illegal, invalid or unenforceable.

Section 11.07. Notices. Any notice to or demand upon the Authority or the Trustee shall be deemed to have been sufficiently given or served for all purposes by being sent by telex or by being deposited, first class mail, postage prepaid, in a post office letter box, addressed, as the case may be, to the Authority, c/o City or Moreno Valley, 14177 Frederick Street, Moreno Valley, California 92552, Attention: Executive Director (or such other address as may have been filed in writing by the Authority with the Trustee), to the Trustee at its Office by first class mail. Notwithstanding the foregoing provisions of this Section 11.07, the Trustee shall not be deemed to have received, and shall not be liable for failing to act upon the contents of, any notice unless and until the Trustee actually receives such notice.

Section 11.08. Evidence of Rights of 2026A Bond Owners. Any request, consent or other instrument required or permitted by the Indenture to be signed and executed by 2026A Bond Owners may be in any number of concurrent instruments of substantially similar tenor and shall be signed or executed by such 2026A Bond Owners in person or by an agent or agents duly appointed in writing.

Proof of the execution of any such request, consent or other instrument or of a writing appointing any such agent, or of the holding by any person of 2026A Bonds transferable by delivery, shall be sufficient for any purpose of the Indenture and shall be conclusive in favor of the Trustee and the Authority if made in the manner provided in this Section.

The fact and date of the execution by any person of any such request, consent or other instrument or writing may be proved by the certificate of any notary public or other officer of any jurisdiction, author ized by the laws thereof to take acknowledgments of deeds, certifying that the person signing such request, consent or other instrument acknowledged to him the execution thereof, or by an affidavit of a witness of such execution duly sworn to before such n otary public or other officer.

The Ownership of 2026A Bonds shall be proved by the Registration Books.

Any request, consent, or other instrument or writing of the Owner of any 2026A Bond shall bind every future Owner of the same 2026A Bond and the Owner of every 2026A Bond issued in exchange therefor or in lieu thereof, in respect of anything done or suffered to be done by the Trustee or the Authority in accordance therewith or reliance thereon.

Section 11.09. Disqualified 2026A Bonds. In determining whether the Owners of the requisite aggregate principal amount of 2026A Bonds have concurred in any demand, request, direction, consent or waiver under the Indenture, 2026A Bonds which are known by the Trustee to be owned or held by or for the account of the Authority, or by any other obligor on the 2026A Bonds, or by any person directly or indirectly controlling or controlled by, or under direct or indirect common control with, the 760

45 4902-1916-0721v6/022432-0050
Authority or any other obligor on the 2026A Bonds, shall be disregarded and de emed not to be Outstanding for the purpose of any such determination. 2026A Bonds so owned which have been pledged in good faith may be regarded as Outstanding for the purposes of this Section if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to vote such 2026A Bonds and that the pledgee is not a person directly or indirectly controlling or controlled by, or under direct or indirect common control with, the Authority or any other obligor on the 2026A Bonds. In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. Upon request, the Authority shall certify to the Trustee those 2026A Bonds that are disqualified pursuant to this Section 11.09 and the Trustee may conclusively rely on such certificate.

Section 11.10. Money Held for Particular 2026A Bonds. The money held by the Trustee for the payment of the interest, principal or premium due on any date with respect to particular 2026A Bonds (or portions of 2026A Bonds in the case of registered 2026A Bonds redeemed in part only) shall, on and after such date and pending such payment, be set aside on its books and held in trust by it for the Owners of the 2026A Bonds entitled thereto, subject, however, to the provisions of Section

10.04 hereof but without any liability for interest thereon.

Section 11.11. Funds and Accounts . Any fund or account required by the Indenture to be established and maintained by the Trustee may be established and maintained in the accounting records of the Trustee, either as a fund or an account, and may, for the purposes of such records, any audits thereof and any reports or statements with respect thereto, be treated either as a fund or as an account; but all such records with respect to all such funds and accounts shall at all times be maintained in accordance with corporate trust industry standards to the extent practicable, and with due regard for the requirements of Section 6.05 and for the protection of the security of the 2026A Bonds and the rights of every Owner thereof.

Section 11.12. Waiver of Personal Liability. No member, officer, agent, employee, consultant or attorney of the Authority or the City shall be individually or personally liable for the payment of the principal of or premium or interest on the 2026A Bonds or be subject to any personal liability or accountability by reason of the issuance thereof; but nothing herein contained shall relieve any such member, officer, agent, employee, consultant or attorney from the performance of any official d uty provided by law or by the Indenture.

Section 11.13. Execution in Several Counterparts . The Indenture may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original; and all such counterparts, or as many of them as the Authority and the Trustee shall preserve undestroyed, shall together constitute but one and the same instrument.

Section 11.14. CUSIP Numbers. Neither the Trustee nor the Authority shall be liable for any defect or inaccuracy in the CUSIP number that app ears on any 2026A Bond or in any redemption notice. The Trustee may, in its discretion, include in any redemption notice a statement to the effect that the CUSIP numbers on the 2026A Bonds have been assigned by an independent service and are included in s uch notice solely for the convenience of the 2026A Bondholders and that neither the Authority nor the Trustee shall be liable for any inaccuracies in such numbers.

Section 11.15. Choice of Law . THE INDENTURE SHALL BE GOVERNED BY THE LAWS OF THE STATE OF CALIFORNIA.
761

46 4902-1916-0721v6/022432-0050
Section 11.16. Notice to Rating Agencies . The Trustee shall provide any Rating Agency rating the 2026A Bonds with written notice of each amendment to the Indenture and a copy thereof at least 15 days in advance of its execution.
762

S-1
4902-1916-0721v6/022432-0050
IN WITNESS WHEREOF, the Authority has caused the Indenture to be signed in its name by its Executive Director and attested by its Secretary, and the Trustee, in token of its acceptance of the trusts created hereunder, has caused the Indenture to be signed in its corporate name by its officers thereunto duly authorized, all as of the day and year first above written.

MORENO VALLEY PUBLIC FINANCING

AUTHORITY

By:

Its: Executive Director

Attest:

Secretary

WILMINGTON TRUST, NATIONAL
ASSOCIATION, as Trustee

By:

Its: Authorized Officer

763

A-1
4902-1916-0721v6/022432-0050

EXHIBIT A

FORM OF 2026A BOND

UNLESS THIS BOND IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE

DEPOSITORY (AS DEFINED IN THE INDENTURE) TO TH E TRUSTEE FOR

REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY BOND ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS

REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO S UCH OTHER ENTITY AS IS

REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY), ANY

TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR

TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

No. ____ $__________

UNITED STATES OF AMERICA

STATE OF CALIFORNIA

MORENO VALLEY PUBLIC FINANCING AUTHORITY
ELECTRIC SYSTEM REVENUE BOND, SERIES 2026A

INTEREST RATE MATURITY DATE ORIGINAL ISSUE DATE CUSIP
____% May 1, 20____ ____ ___, 20___ _____

REGISTERED OWNER CEDE & CO.

PRINCIPAL AMOUNT: _________________________________________ DOLLARS

The MORENO VALLEY PUBLIC FINANCING AUTHORITY, a joint exercise of powers entity duly organized and existing under the laws of the State of California (the “Authority”), for value received, hereby promises to pay to the Registered Owner specified above or registered assigns (the “Registered Owner”), on the Maturity Date specified above (subject to any right of prior redemption hereinafter provided for), the Principal Amount specified above, in lawful money of the United States of America, and to pay interest thereon in like lawful money from the interest payment date next preceding the date of authentication of this 2026A Bond (unless: (i) this 2026A Bond is authenticated after the fifteenth day of the calendar month preceding an interest payment date, whether or not such day is a business day, and on or before the following interest payment date, in which event it shall bear interest from such interest payment date; or (ii) this 2026A Bond is authenticated on or before _______ 15, 20__, in which event it shall bear interest from the Original Issue Date identified above; provided, however, that if as of the date of authentication of this 2026A Bond, interest is in default on this 2026A Bond, this 2026A Bond shall bear interest from the interest payment date to which interest has previously been paid or made available for payment on this 2026A Bond), at the Interest Rate per annum specified above, payable se miannually on May 1 and November 1 in each year, commencing _____ 1, 20__, calculated on the basis of a 360-day year composed of twelve 30-day months. Principal hereof and premium, if any, upon early redemption hereof are payable by check of the Trustee u pon presentation and surrender hereof at the Office (as defined in the hereinafter described Indenture) of 764

A-2
4902-1916-0721v6/022432-0050
Wilmington Trust, National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee sent by first class mail on the applicable interest payment date to the Registered Owner hereof at the Registered Owner’s address as it appears on the registration books of the Trustee as of the close of business on the fifteenth day of the month preceding each interest payment date ( except that in the case of a registered owner of one million dollars ($1,000,000) or more in principal amount, such payment may, at such registered owner’s option, be made by wire transfer of immediately available funds to an account in the United States i n accordance with written instructions provided to the Trustee by such registered owner prior to the fifteenth (15th) day of the month preceding such interest payment date).

This 2026A Bond is not a debt of the members of the Authority, the State of California, or any of its political subdivisions (other than the Authority), and neither the members of the Authority or said State, nor any of its political subdivisions (other than the Authority), is liable hereon, nor in any event shall this 2026A Bond be payable out of any funds or properties of the Authority other than the Authority Revenues (as such term is defined in the Indenture of Trust, dated as of _____ 1, 2026 (the “Indenture”), by and between the Authority and the Trustee) and other moneys pledged therefor under the Indenture. The obligation of the City to make payments in accordance with the Installment Purchase Agreement is a limited obligation of the City as set forth in the Installment Purchase Agreement (as such terms are defined in the Indenture) on a parity with other Bonds and Contracts (as such terms are defined in the Installment Purchase Agreement) of the City, and the City shall have no liability or obligation in connection herewith except with respect to such Series 2026A Installment Payments to be made pursuant to the Installment Purchase Agreement. The 2026A Bonds do not constitute an indebtedness of the Authority in contravention of any constitutional or statutory debt limitation or restriction.

This 2026A Bond is one of a duly authorized issue of bonds of the Authority designated as the “Moreno Valley Public Financing Authority Electric System Revenue Bonds, Series 2026A” (the “2026A Bonds”), of an aggregate principal amount of __________ Dollars ($________), all of li ke tenor and date (except for such variation, if any, as may be required to designate varying series, numbers or interest rates) and all issued pursuant to the Indenture and the resolution authorizing the issuance of the 2026A Bonds. Reference is hereby made to the Indenture (copies of which are on file at the office of the Authority) and all supplements thereto for a description of the terms on which the 2026A Bonds are issued, the provisions with regard to the nature and extent of the Authority Revenues, and the rights thereunder of the Owners of the 2026A Bonds and the rights, duties and immunities of the Trustee and the rights and obligations of the Authority hereunder, to all of the provisions of which the Registered Owner of this 2026A Bond, by accept ance hereof, assents and agrees. The 2026A Bonds have been issued in fully registered form without coupons in denominations of $5,000 or any integral multiple thereof.

The 2026A Bonds have been issued by the Authority to finance and refinance certain public capital improvements and related costs, as more fully described in the Indenture.

This 2026A Bond and the interest, premium, if any, hereon and all other 2026A Bonds and the interest and premium, if any, thereon (to the extent set forth in the Indenture) are special obligations of the Authority, and are payable from, and are secured by a pledge and lien on the Authority Revenues, including all Series 2026A Installment Payments received from the City by the Authority or the Trustee, and any other amounts on deposit in certain funds and accounts created under the Indenture.

As and to the extent set forth in the Indenture, all of the Authority Revenues are exclusively and 765

A-3
4902-1916-0721v6/022432-0050
irrevocably pledged in accordance with the terms hereof and the provisions of the In denture, to the payment of the principal of and interest and premium (if any) on the 2026A Bonds.

The Indenture and the rights and obligations of the Authority and the Owners of the 2026A Bonds and the Trustee may be modified or amended from time to time . No such modification or amendment shall: (i) extend the fixed maturity of any 2026A Bonds, or reduce the amount of principal thereof or premium (if any) thereon, or extend the time of payment, or change the method of computing the rate of interest thereon , or extend the time of payment of interest thereon, without the consent of the owner of each 2026A Bond so affected; or (ii) permit the creation of any lien on the Authority Revenues and other assets pledged under the Indenture prior to or on a parity wit h the lien created by the Indenture except as permitted in the Indenture, or deprive the Owners of the 2026A Bonds of the lien created by the Indenture on such Authority Revenues and other assets, except as expressly provided in the Indenture.

The Indenture and the rights and obligations of the Authority, of the Trustee and the Owners of the 2026A Bonds may also be modified or amended for certain purposes described more fully in the Indenture at any time in the manner, to the extent and upon the terms provided in the Indenture by a supplemental indenture, which the Authority and the Trustee may enter into without the consent of any 2026A Bond Owners, if the Trustee shall receive an opinion of Bond Counsel to the effect that the provisions of such supplemental indenture will not materially adversely affect the interests of the Owners of the Outstanding 2026A Bonds.

The 2026A Bonds with stated maturities on or after May 1, 20__, shall be subject to redemption prior to their respective stated maturities, as a whole or in part on any date as directed by the Authority upon written Request to the Trustee at least 35 days (or such lesser number of days acceptable to the Trustee in the sole discretion of the Trustee, such notice for the sole convenience of the Trustee) prior to such date and by lot within each maturity in integral multiples of $5,000, on or after May 1, 20__, at a redemption price equal to the principal amount thereof plus accrued interest thereon to the date fixed for redemption, without premium.

The 2026A Bonds with stated maturities on May 1, 20__ are subject to mandatory sinking fund redemption in part (by lot) on each May 1 on and after May 1, 20__, in integral multiples of $5,000 at a Redemption Price of the principal amount thereof pl us accrued interest to the date fixed for redemption, without premium, in accordance with the following schedule:

Redemption Date
(May 1)
Principal
Amount

* Final Maturity.

The 2026A Bonds shall be subject to redemption prior to their respective stated maturities, as a whole or in part, on any date in the order of maturity as directed by the Authority in a written request provided to the Trustee at least 35 days (or such lesser number of days acceptable to the Trustee in its sole discretion) prior to such date and by lot within each maturity in integral multiples of $5,000 from 766

A-4
4902-1916-0721v6/022432-0050
prepaid Series 2026A Installment Payments made by the City from Net Proceeds, upon the terms and conditions of, and as provided for in, the Installment Purchase Agreement, at a Redemption Price equal to the principal amount thereof and accrued interest thereon to the redemption date without premium.

As provided in the Indenture, notice of redemption shall be given by the Trustee not less than twenty (20) days prior to the redemption date to the respective Owners of any 2026A Bonds designated for redemption at their addresses appearing on the registration books of the Trustee; provided, however, that so long as the 2026A Bonds are registered in the name of the Nominee, notices of redemption shall be provided in such manner as complies with the requirements of DTC . Neither the failure to receive such notice nor any defect in the notice or the provision thereof shall a ffect the validity of the proceedings for redemption or the cessation of accrual of interest thereon from and after the date fixed for redemption.

If this 2026A Bond is called for redemption and payment is duly provided therefor as specified in the Indenture, interest shall cease to accrue hereon from and after the date fixed for redemption.

If an Event of Default, as defined in the Indenture, shall occur, the principal of all of the 2026A Bonds and the interest accrued thereon may be declared due and payab le upon the conditions, in the manner and with the effect provided in the Indenture, but such declaration and its consequences may be rescinded and annulled as further provided in the Indenture.

This 2026A Bond is transferable by the Registered Owner hereo f, in person or by his or her duly authorized attorney in writing, at said office of the Trustee but only in the manner subject to the limitations and upon payment of the taxes and charges provided in the Indenture and upon surrender and cancellation of this 2026A Bond. Upon registration of such transfer, a new 2026A Bond or 2026A Bonds of the same series, of authorized denomination or denominations, for the same aggregate principal amount of the same maturity will be issued to the transferee in exchange therefor. 2026A Bonds may be exchanged at said office of the Trustee for a like aggregate principal amount of 2026A Bonds of other authorized denominations of the same series and same maturity, but only in the manner, subject to the limitations and upon pay ment of the taxes and charges provided in the Indenture.

The Trustee shall not be required to register the transfer or exchange of any 2026A Bond during the period in which the Trustee is selecting 2026A Bonds for redemption or any 2026A Bond that has been selected for redemption.

The Authority and the Trustee may treat the Registered Owner hereof as the absolute owner hereof for all purposes, and the Authority and the Trustee shall not be affected by any notice to the contrary.

It is hereby certified that all of the things, conditions and acts required to exist, to have happened or to have been performed precedent to and in the issuance of this 2026A Bond do exist, have happened or have been performed in due and regular time, form and manner as required by the Joint Powers Agreement, and the laws of the State of California and that the amount of this 2026A Bond, together with all other indebtedness of the Authority, does not exceed any limit under any laws of the State of California, and is not in excess of the amount of 2026A Bonds permitted to be issued under the Indenture.
767

A-5
4902-1916-0721v6/022432-0050
This 2026A Bond shall not be entitled to any benefit under the Indenture or become valid or obligatory for any purpose until the certificate of authentication hereon endorsed shall have been manually signed by the Trustee.
768

A-6
4902-1916-0721v6/022432-0050
IN WITNESS WHEREOF, the Authority has caused this 2026A Bond to be executed in its name and on its behalf by the facsimile signatures of its Executive Director and Acting Secretary , all as of this ____ day of _______, 2026.

MORENO VALLEY PUBLIC FINANCING

AUTHORITY

By:

Its: Executive Director
Attest:

Secretary

[FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION
TO APPEAR ON BONDS]

This is one of the 2026A Bonds described in the within-mentioned Indenture.

Dated: ________, 2026

WILMINGTON TRUST, NATIONAL
ASSOCIATION, as Trustee

By:

Its: Authorized Signatory

769

A-7
4902-1916-0721v6/022432-0050
[FORM OF ASSIGNMENT]

For value received the undersigned hereby sells, assigns and transfers unto

(Name, Address and Tax Identification or
Social Security Number of Assignee)

the within registered 2026A Bond and hereby irrevocably constitute(s) and appoint(s) ______________________________________________ attorney, to transfer the same on the registration books of the Trustee with full power of substitution in the premises.

Dated:

Note: The signature( s) on this Assignment must
correspond with the name(s) as written on the
face of the within 2026A Bond in every
particular without alteration or enlargement or
any change whatsoever.

Signature Guaranteed:

Note: Signature guarantee shall be made by a
guarantor institution participating in the
Securities Transfer Agents Medallion Program
or in such other guarantee program acceptable
to the Trustee.

770
Stradling Yocca Carlson & Rauth
Draft of 4/22/26
4903-2807-4148v2/022432-0050

CONTINUING DISCLOSURE CERTIFICATE
This Continuing Disclosure Certificate (the “Disclosure Certificate”) is executed and delivered by the City of Moreno Valley (the “City”) in connection with the issuance by the Moreno Valley Public Financing Authority (the “Authority”) of its $ ___________ Electric System Revenue Refunding Bonds, Series 2026A (the “Bonds”). The Bonds are being issued pursuant to a n Indenture, dated as of _____ 1, 2026 (the “Indenture”), by and among the Authority, the City and Wilmington Trust, National Association, as trustee (the “Trustee”) . The City covenants and agrees as follows:

1. Purpose of this Disclosure Certificate . This Disclosure Certificate is being execut ed and delivered by the City for the benefit of the Holders and Beneficial Owners of the Bonds and in order to assist the Participating Underwriter in complying with the Rule.

2. Definitions. In addition to the definitions set forth in the Indenture, which apply to any capitalized term used in this Disclosure Certificate unless otherwise defined in this Section, the following capitalized terms shall have the following meanings:

Annual Report. The term “Annual Report” means any Annual Report provided by th e City pursuant to, and as described in, Sections 3 and 4 of this Disclosure Certificate.

Beneficial Owner . The term “Beneficial Owner” means any person which: (a) has the power, directly or indirectly, to vote or consent with respect to, or to dispose o f ownership of, any Bonds (including persons holding Bonds through nominees, depositories or other intermediaries); or (b) is treated as the owner of any Bonds for federal income tax purposes.

EMMA. The term “EMMA” means the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access System for municipal securities disclosures, maintained on the Internet at http://emma.msrb.org/.

Financial Obligation . The term “Financial Obligation” means a: (A) debt obligation; (B) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation; or (C) guarantee of (A) or (B). The term “Financial Obligation” does not include municipal securities as to which a final official statement has been provided to the Municipal Securities Rulemaking Board consistent with the Rule.1 Fiscal Year . The term “Fiscal Year” means the one -year period ending on the last day of June of each year.

Holder. The term “Holder” means a registered owner of the Bonds.

Listed Events. The term “Listed Events” means any of the events listed in Sections 5(a) and (b) of this Disclosure Certificate.

Official Statement . The term “Official Statement” means the Official Statement dated _____, 2026 relating to the Bonds.

1 The City shall interpret the events identified in Sections (5)(a)(10) and 5(b)(8) hereof in accordance with Release No. 34-83885 adopted by the Securities and Exchange Commission on August 20, 2018, or any future guidance or releases provided by the Securities and Exchange Commission.
771

2 4903-2807-4148v2/022432-0050
Participating Underwriter. The term “Participating Underwriter” means any of the original underwriters of the Bonds required to comply with the Rule in connection with offering of the Bonds.

Rule. The term “Rule” means Rule 15c2-12 adopted b y the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same may be amended from time to time.

3. Provision of Annual Reports.
(a) The City shall provide not later than each March 31 following the end of its Fiscal Year (commencing March 31, 2027 with the Fiscal Year ended June 30, 2026) to EMMA an Annual Report relating to the immediately preceding Fiscal Year which is consistent wit h the requirements of Section 4 of this Disclosure Certificate, which Annual Report may be submitted as a single document or as separate documents comprising a package, and may cross -reference other information as provided in Section 4 of this Disclosure Certificate. (b) If the City is unable to provide to EMMA an Annual Report by the date required in subsection (a), the City shall send in a timely manner to EMMA a notice in the manner prescribed by the Municipal Securities Rulemaking Board.

4. Content of A nnual Reports . The Annual Report shall contain or incorporate by reference the following:
(a) audited financial statements of the City for the prior Fiscal Year, prepared in accordance with generally accepted accounting principles as promulgated to apply to governmental entities from time to time by the Governmental Accounting Standards Board. If the City’s audited financial statements are not available by the time the Annual Report is required to be filed pursuant to Section 3(a), the Annual Report shall contain unaudited financial statements in a format similar to the financial statements contained in the final Official Statement, and the audited financial statements shall be filed in the same manner as the Annual Report when they come available. (b) To the extent not included in the audited financial statements provided pursuant to the foregoing Section 4(a), the Annual Report shall contain or incorporate by reference the following information or similar information updated to incorporate information for the most recent Fiscal Year, as applicable (the tables referred to below are those appearing in the Official Statement):
[(i) Updated information comparable to the information in the table entitled “CITY OF MORENO VALLEY TOTAL ENERGY PURCHSED AND PEAK DEMAND”; (ii) Updated information comparable to the information in the table entitled “CITY OF MORENO VALLEY NUMBER OF METERED CUSTOMERS”; (iii) Updated information comparable to the information in the table entitled “CITY OF MORENO VALLEY ENERGY SOLD”;
(i) Updated information comparable to the information in the table entitled “CITY OF MORENO VALLEY HISTORY OF BILLINGS AND COLLECTIONS”; and 772

3 4903-2807-4148v2/022432-0050
(vi) Updated information comparable to the information in the table entitled “CITY OF MORENO VALLEY HISTORICAL ELECTRIC SYSTEM OPERATING RESULTS”.]
The items described above may be included by specific reference to other documents, including official statements of debt issues of the City or related public entities, which have been submitted to EMMA; provided, that if any do cument included by reference is a final official statement, it must be available from the Municipal Securities Rulemaking Board; and provided further, that the City shall clearly identify each such document so included by reference.

5. Reporting of Significant Events.
(a) Pursuant to the provisions of this Section 5, the City shall give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds in a timely manner not more than ten (10) Business Days after the event:

1. principal and interest payment delinquencies;

2. unscheduled draws on debt service reserves reflecting financial difficulties;

3. unscheduled draws on credit enhancements reflecting financial difficulties;

4. substitution of credit or liquidity providers, or their failure to perform;

5. adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability or Notices of Proposed Issue (IRS Form 5701 TEB);

6. tender offers;

7. defeasances;

8. ratings changes;

9. bankruptcy, insolvency, receivership or similar proceedings; Note:

For the purposes of the event identified in subparagraph (9), the event is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent or similar officer for an obligated person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or busines s of the obligated person, or if such jurisdiction has been assumed by leaving the existing governmental body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the obligated person; and

10. default, event of acceleration, termina tion event, modification of terms, or other similar events under the terms of a Financial Obligation of the City, any of which reflect financial difficulties.
773

4 4903-2807-4148v2/022432-0050
(b) Pursuant to the provisions of this Section 5, the City shall give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds, if material:

1. unless described in Section 5(a)(5), other notices or determinations by the Internal Revenue Service with respect to the tax status of the Bonds or other events affecting the tax status of the Bonds;

2. modifications to the rights of security holders;

3. optional, unscheduled or contingent Bond redemptions;

4. release, substitution or sale of property securing repayment of the securities;

5. non-payment related defaults;

6. the consummation of a merger, consolidation, or acquisition involving the City or the sale of all or substantially all of the assets of the City, other than in the ordinary course of business, the entry into a definitive agreement to undertake s uch an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms;

7. appointment of a successor or additional trustee or the change of the name of a trustee; and

8. incurrence of a Financial Obligati on of the City, or agreement to covenants, events of default, remedies, priority rights, or other similar terms of a Financial Obligation of the City, any of which affect security holders. (c) If the City determines that knowledge of the occurrence of a Li sted Event under Section 5(b) would be material under applicable federal securities laws, the City shall file a notice of such occurrence with EMMA in a timely manner not more than ten (10) Business Days after the event.

6. Termination of Obligation . The City’s obligations under this Disclosure Certificate shall terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. If such termination occurs prior to the final maturity of the Bonds, the City shall give notice of such termination in the same manner as for a Listed Event under Section 5(c).

7. Amendment; Waiver. Notwithstanding any other provision of this Disclosure Certificate, the City may amend this Disclosure Certificate, and any provision of this Disclosure Certificate may be waived, provided that, in the opinion of nationally recognized bond counsel, such amendment or waiver is permitted by the Rule , taking into account any subsequent change in or official interpretation of the Rule.

8. Additional Information . No thing in this Disclosure Certificate shall be deemed to prevent the City from disseminating any other information, using the means of dissemination set forth in this Disclosure Certificate or any other means of communication, or including any other information in any notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Certificate. If the City chooses to include any information in any notice of occurrence of a Listed Event in addition to that which is specificall y required by this Disclosure Certificate, the 774

5 4903-2807-4148v2/022432-0050
City shall not thereby have any obligation under this Disclosure Certificate to update such information or include it in any future notice of occurrence of a Listed Event.

9. Default. In the event of a failur e of the City to comply with any provision of this Disclosure Certificate, the Insurer or any Holders or Beneficial Owners of at least 50% aggregate principal amount of the Bonds may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the City to comply with its obligations under this Disclosure Certificate. A default under this Disclosure Certificate shall not be deemed an Event of Default under the Indenture, and the sole remedy under this Disclosure Certificate in the event of any failure of the City to comply with this Disclosure Certificate shall be an action to compel performance.

No Holder or Beneficial Owner of the Bonds may institute such action, suit or proceeding t o compel performance unless they shall have first delivered to the City satisfactory written evidence of their status as such, and a written notice of and request to cure such failure, and the City shall have refused to comply therewith within a reasonable time.

10. Beneficiaries. This Disclosure Certificate shall inure solely to the benefit of the City, the Insurer, the Participating Underwriter and Holders and Beneficial Owners from time to time of the Bonds, and shall create no rights in any other person or entity.

Dated: _____, 2026 CITY OF MORENO VALLEY
By:

Its: City Manager

775
City of Moreno Valley Fiscal Services Policy
#3.11

Page 1 of 1211 ends

Fund Balance and Financial Reserves Policy
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

PURPOSE: The City of Moreno Valley is dedicated to maintaining the fiscal stability of the City. It is essential that adequate levels of unrestricted funds be maintained to mitigate financial risk that can occur from unforeseen revenue fluctuations, unanticipated expenditures, and/or other similar circumstances. This policy will provide guidance on establishing and maintaining reasonable levels of reserves in both governmental and proprietary funds. In addition, this policy will improve financial reporting by establishing fund balance classifications that create a hierarchy based on the extent to which the City is bound to observe spending constraints that govern how the City can use amounts reported in the governmental fund balance sheet.

SCOPE: As referencing governmental funds, this policy in conjunction with Resolution 2011-62 (adopted June 14, 2011) satisfies the requirements of Governmental Accounting Standards Board (GASB) Statement No. 54.

DEFINITIONS:

 Calculation Date: June 30th every year. Reviewed during audit and adjusted prior to closing General Ledger.

 Capital Projects Funds: are used to account for all financial resources restricted, committed or assigned to expenditures for acquisition or construction of capital assets.

 Debt Service Funds: are used to account for all financial resources restricted, committed or assigned to expenditures for principal and interest.

 Fund Balance is the excess of total assets as compared to total liabilities in a governmental fund. o Fund Balances are listed under five categories:

 Non-spendable: Amounts that cannot be spent because they are either not in the spendable form or are legally and contractually required to be maintained intact.

 Restricted: Amounts that are constrained on the use of resources by external creditors, grantors, contributor, or laws or regulations of other governments; or, by law through constitutional provisions or enabling legislature.

 Committed: Amounts that can be used only for the specific purposes pursuant to constraints imposed by formal action of the government’s highest authority, City Council.

 Assigned: Amounts that are constrained by the government’s intent to be used for specific purposes, but are neither restricted nor committed.

 Unassigned: the residual amounts that have not been restricted, committed, or assigned to specific purposes.

 General Funds: are used to account for all financial resources not accounted for and reported in another fund.

 Measure U Funds: are used to account for all financial resources pertaining to the Measure U transaction and use tax.

 Operating Expenditures: All expenses excluding Capital Improvement Projects, Capital Assets and Transfers In/Out.
776
City of Moreno Valley Fiscal Services Policy
#3.11

Page 2 of 1211 ends

Fund Balance and Financial Reserves Policy
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

 Permanent Funds: are used to account for resources restricted to the extent that only earnings, and not principal, may be used for purposes that support the City’s purposes.

 Special Revenue Funds : are used to account and report the proceeds of specific revenue sources that are restricted or committed to expenditures for specific purposes other than debt services or capital projects.  Unaudited Actual: Estimated operating expenses as of June 30 every year.

POLICY:

I. Fund Balance Classification in Governmental Funds

A. GASB 54 outlines the requirement to report the fund balance for governmental funds in specific classifications, which create a hierarchy primarily based on the extent to which the City is bound to the constraints on the specific purposes for which funds can be spent.

1. The Fund Balance consists of the following five categories:

a. Non-spendable
b. Restricted
c. Committed
d. Assigned
e. Unassigned

B. An individual governmental fund could include non -spendable resources and amounts that are restricted, committed, assigned, unassigned, or any combination of those classifications.

C. Restricted amounts are to be considered spent when expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available and committed or assigned.

D. Unassigned amounts are considered to have been spent when expenditure is incurred for purposes which amounts in any of these unrestricted fund balance classifications can be used.

E. Commitments may be changed or lifted only by the government taking the same formal action that imposed the constraint originally.

F. The general fund is the only fund that may report a positive unassigned fund balance.

1. In other funds, the unassigned classification should be used only to report a deficit balance from overspending for specific purposes for which amounts had been restricted, committed, or assigned.

G. Stabilization Arrangements

1. Per GASB 54, governments have the option to formally set aside unrestricted fund balance amounts to use for budget or revenue stabilization, working capital needs, and contingencies or emergencies.

a. The authority to set aside such amounts can be established by statute, ordinance, or resolution.

777
City of Moreno Valley Fiscal Services Policy
#3.11

Page 3 of 1211 ends

Fund Balance and Financial Reserves Policy
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

b. These amounts are subject to controls that dictate the circumstances under which they can be spent.

c. The formal action that imposes the parameters for spending should identify and describe the specific circumstances under which a need for stabilization arises. i. Those circumstances should be such that they would not be expected to occur routinely.

d. Stabilization amounts should be reported in the general fund as restricted or committed if they meet the criteria of restricted or committed fund balance. e. A stabilization arrangement would satisfy the criteria to be reported as a separate special revenue fund only if the resources derive from the specific restricted or committed revenue source.

II. Committing Fund Balance

A. For the City of Moreno Valley, the City Council is the highest level of decision-making authority.

B. The formal action that is required to be taken to establish, modify, or rescind a fund balance commitment is a resolution approved by the Council at a City Council meeting.

1. The resolution must either be approved or rescinded, as applicable, prior to the last day of the fiscal year for which the commitment is made.

2. The amount subject to the constraint may be determined in the subsequent period.

III. Assigned Fund Balance

A. The City Council has authorized the City Manager or designee (Chief Financial Officer) as the official authorized to assign fund balance to a specific purpose as approved by this fund balance policy.

1. Such assignments cannot exceed the available (spendable, unrestricted, uncommitted) fund balance in any particular year.

IV. Reporting Encumbrances

A. Encumbering amounts in governmental funds for specific purposes for which resources have already been restricted, committed, or assigned should not result in separate display of encumbered amounts.

B. Encumbered amounts for specific purposes for which amounts have not been previously restricted, committed, or assigned, will be classified as committed or assigned, as appropriate, based on the definitions and criteria set forth in GASB Statement No. 54.

V. Hierarchy of Fund Balance Use

A. When multiple categories of fund balance are available for expenditures, the City will spend the most restricted funds first before moving down the category with available funds in the following order:
778
City of Moreno Valley Fiscal Services Policy
#3.11

Page 4 of 1211 ends

Fund Balance and Financial Reserves Policy
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

1. Restricted

2. Committed

3. Assigned

4. Unassigned

VI. Minimum Level of Fund Balance/Net Assets

A. General Fund

1. It is the goal of the City to achieve and maintain a minimum unrestricted (committed, assigned and unassigned) fund balance in its General Fund. a. Committed Fund Balance for Financial Stabilization Arrangement

i. The City’s General Fund balance committed for Operating Reserve Stabilization is established at a minimum goal of 15% of the General Fund’s operating expenditures.
1) These funds are to be used for catastrophic events, major emergencies, or in periods of severe fiscal crisis.
ii. An Operating Reserve Stabilization Fund Balance in the General Fund is established for the purpose of providing funds for an urgent catastrophic event or major disaster that affects the safety of residents, employees, or property (e.g. earthquake, wildfires, terrorist attack, etc.)

1) The recognition of an urgent event must be established by the City Council by adoption of a resolution explaining the nature of the fiscal crisis and requires approval by a majority vote of the City Council.
2) A budget revision must be approved by the City Council. A maximum of 50% of the prior fiscal year ending balance in the Operating Reserve Stabilization Fund may be drawn.
3) The City Council must approve and adopt a plan to restore the fund balance per Section VII, if the fund balance falls below the minimum requirement.

b. Assigned Fund Balance
i. The City’s assigned fund balance for Economic Uncertainty Reserve is established at a minimum of 15% of the General Fund’s operating expenditures.
1) These funds are to be used during times of severe economic distress such as recessionary periods, State raids on local resources, or other impactful unforeseen events, which greatly diminish the financial ability of the City to deliver core services.

2) The Economic Uncertainty Reserve will be used during periods of economic distress as measured by one of the following triggers:
779
City of Moreno Valley Fiscal Services Policy
#3.11

Page 5 of 1211 ends

Fund Balance and Financial Reserves Policy
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

a) Consumer Price Index exceeds the index for the
previous year by more than five percent for two
consecutive years.

b) Local unemployment rate exceeds 9% for three
consecutive quarters.
c) The rate of inflation exceeds the growth in property tax revenue by 5% for two consecutive fiscal years.

d) Significant State take-aways of revenue totaling more than 5% of total revenue in a given fiscal year.
e) Sales Tax revenue falls by 5% over the previous
quarter.

3) Once the City Council or their designee (City Manager or Chief Financial Officer) has determined that it is necessary to draw down fund balance, a resolution approving the additional appropriation shall be made at the next City Council meeting accompanied by a formal report explaining the nature of the fiscal crisis and the plan to restore the fund balance per Section VII.
ii. The City’s other assigned fund balances may include:
1) Continuing appropriations which arise when expenditures are planned and budgeted in one fiscal year and for unforeseen circumstances are not incurred until a subsequent fiscal year. 2) Funds assigned to the receipt and programmatic commitment to administration of grant and/or federal and state a ward funding projects including any required match obligation.
3) Funds assigned to the receipt and programmatic commitment to Measure U – Moreno Valley Essential Servic es to maintain critical Moreno Valley services.
c. Unassigned Fund Balance

i. The City will achieve and maintain a minimum unassigned fund balance in its General Fund of no less than two months (17%) with a maximum of 70% of the General Fund’s operating expenditures.
1) The minimum fund balance is to protect against cash flow shortfalls related to timing of projected revenue receipts and to maintain budgeted level of services.

ii. The City Council must approve and adopt a plan to restore the fund balance per Section VII, if the fund balance falls below the minimum requirement.

780
City of Moreno Valley Fiscal Services Policy
#3.11

Page 6 of 1211 ends

Fund Balance and Financial Reserves Policy
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

B. Special Revenue Funds

1. Special revenue funds are created to account for the proceeds from specific revenue sources that are legally restricted for specific purposes (e.g. CSD zones, grants, gas tax).

2. Each fund is unique based on the timing of revenue receipts.

a. No specific minimum fund balance requirement is created by this policy. b. Each fund must adhere to any underlying guidelines attached to that revenue source

C. Debt Service Funds

1. The minimum fund balance requirement for any outstanding issue will be consistent with the bond covenants.

D. Capital Projects Funds

1. Capital projects funds are created to account for resources set aside to construct or acquire fixed assets or improvements.

2. These projects may extend beyond one fiscal year.

3. No specific amount for minimum fund balance is required per this policy.

E. Enterprise Funds – Moreno Valley Utility

1. Enterprise funds should strive for positive net operating income to provide for necessary operating and capital expenses while maintaining sufficient debt service coverage ratio s.

2. A specific percentage or dollar amount will vary due to the considerations for working capital, debt coverage, asset replacement, rate stabilization, and revenue volatility.

a. Assigned Fund Balance

i. The City's Moreno Valley Utility assigned fund balance for Operating Reserve is established at a minimum of 20% of the Moreno Valley Utility's operating expenses (not including depreciation and amortization).

1) The funds are to be used for maintaining payment of operating expenses including procurement of materials and restoration of service during periods of scarcity of materials and energy supplies at potentially elevated costs.

ii. The City's Moreno Valley Utility assigned fund balance for Capital Reserve is established at a minimum of 5% of the Moreno Valley Utility's fiscal year end Capital Assets (net of depreciation).

1) The funds are to be used for anticipated and approved infrastructure projects and/or repairs to serve existing and future customers.
781
City of Moreno Valley Fiscal Services Policy
#3.11

Page 7 of 1211 ends

Fund Balance and Financial Reserves Policy
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

iii. The City's Moreno Valley Utility assigned fund balance for Emergency/Contingency Reserve is established at a minimum of 2% of the Moreno Valley Utility's fiscal year end Capital Assets (net of depreciation).

1) These funds are to be used for emergency or unforeseen infrastructure repair and/or replacements to maint ain or restore electric service to customers.

b. Unrestricted Fund Balance (Net Position)

i. The City's Moreno Valley Utility will achieve and maintain a minimum unrestricted fund balance of not less than 25% of the operating expenditures.

1) The minimum fund balance is to protect against cash flow shortfalls related to timing of projected revenue receipts and to maintain budgeted level of services.

F. Internal Service Funds

1. Internal Service Funds, by nature are designed to operate on a break -even basis for operations, while, if applicable, accruing additional funds to finance future capital costs or potential liabilities.

a. General Liability
i. The minimum fund balance requirement will be based on the actuarial recommended funding level at June 30th each fiscal year. b. Workers’ Compensation
i. The minimum fund balance requirement will be based on the actuarial recommended funding level at June 30th each fiscal year.

c. Technology Maintenance and Replacement

i. The City’s computer network, communications systems, desktop and peripheral hardware, and technology software expenses are accounted for in the technology internal service fund.
ii. This fund is utilized for periodic replacement of desktop computers, the annual expense related to enterprise-wide software licenses, upgrades to servers and networks, and maintenance and upkeep of the communications system.
iii. This policy establishes a minimum reserve level of 75%, with a maximum of 150% of the recorded purchase price for the current assets at June 30th each fiscal year. The maximum reserve level exceeds 100% to allow for the cost increases related to future replacement value for the equipment.

782
City of Moreno Valley Fiscal Services Policy
#3.11

Page 8 of 1211 ends

Fund Balance and Financial Reserves Policy
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

d. Facilities Maintenance and Replacement

i. The facilities internal service fund is responsible for costs related to routine maintenance (i.e., custodial services) and major rehabilitation (i.e., roof replacement, remodel or expansion) of City buildings. ii. The City maintains a long -term, facilities master plan that is utilized to guide long-range budgeting for major building expenses. iii. This policy establishes a minimum reserve level of 3%, with a maximum of 50% of the recorded purchase price for the current assets at June 30 th each fiscal year.
1) The lower reserve levels are established based on the longer life of the facilities and the potential of available financing for these types of assets.
e. Fleet Maintenance and Replacement

i. The City has a fleet of rolling stock and other equipment that is maintained and replaced through the equipment internal service fund. ii. The City’s Public Works and Parks and Community Services Departments comprise the largest users of and contributors to the equipment internal service fund.

iii. This fund receives operating resources from Departments in order to provide for fleet maintenance (annual ongoing costs) and to fund the regular replacement of major pieces of equipment (primarily rolling stock) at their economic obsolescence.
iv. This policy establishes a minimum reserve level of 50%, with a maximum of 100% of the recorded purchase price for the current assets at June 30th each fiscal year.
1) The definition of rolling stock includes such equipment as Public Works utility trucks, and Parks and Community Services utility vehicles.
2) The replacement value shall be that updated and used annually as part of the budget development process.
f. Equipment Maintenance and Replacement

i. The City has equipment that is maintained and replaced through the equipment internal service fund.
ii. This fund receives operating resources from Departments in order to provide for equipment maintenance (annual ongoing costs) and to fund the regular replacement of major pieces of equipment at their economic obsolescence.

783
City of Moreno Valley Fiscal Services Policy
#3.11

Page 9 of 1211 ends

Fund Balance and Financial Reserves Policy
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

iii. This policy establishes a minimum reserve level of 75%, with a maximum of 150% of the recorded purchase price for the current assets at June 30th each fiscal year. The maximum reserve level exceeds 100% to allow for the cost increases related to future replacement value for the equipment.

g. Unfunded Liabilities

i. This fund should allocate all of the costs related to maintaining a highly functioning full-time and part-time work force.
ii. The major expenses allocated to each Department and Program through this fund is unfunded liabilities, including but not limited to, compensated absences/annual leave, etc.

iii. This policy states that the fund balance level for the unfunded liabilities fund related to compensated absences will be calculated using the total amount of compensated absences, as noted in the ACFR “Long -Term Debt (Note 6)” for Governmental and Internal Service Funds.

1) This amount represents the total outstanding liability of all accrued employee annual leave that is eligible to be paid to the employees at separation.
2) The minimum reserve level is set at 25% of the current liability for compensated absences at June 30 th each fiscal year, with a maximum of 100%.
3) Using “compensated absences” as a measurement for
appropriate fund balance allows for one type of liability to be covered.

4) Being able to show how the “compensated ab sences” liability could be fully covered, if in the highly unlikely scenario the entire amount needed to be converted to an expense, is a useful metric upon which to base a reserve level policy.

iv. The City Council has authorized the City Manager as the official authorized to reserve other unfunded liabilities as approved by this fund balance policy.

1) Any amounts recorded and authorized by the City Manager as other unfunded liability will be designat ed for a specific purposes at the time or recordation (i.e. pension liability, OPEB liability, deferred maintenance, etc.).

2) No other unfunded liability reserve level has a designated minimum reserve level at June 30 th each fiscal year, and no other unfund ed liability reserve will exceed the maximum of 100%.

784
City of Moreno Valley Fiscal Services Policy
#3.11

Page 10 of 1211 ends

Fund Balance and Financial Reserves Policy
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

VII. Replenishing Minimum Reserve Balance Deficiencies

A. When the General Fund’s minimum fund balance falls below the required thresholds, the City Council must approve and adopt a plan to restore this balance to the target minimum level within five years using the following budget strategies:

1. The City will use budget surplus or,

2. The City will reduce recurring expenditures to eliminate any structural deficit or,

3. The City will increase revenues or pursue other fund sources, or,

4. A combination of the three options above.

B. Unless a repayment plan is pre -established at the time reserves are allocated, Staff shall bring for Council consideration a replenishment plan, within 90-days of allocation from the reserve.

1. It would be Council’s expectation that every effort would be made to replenish the reserve as soon as it is financially feasible and practical to do so.

C. If the reserve cannot be replenished by the next annual budget, a repayment plan not to exceed five years should be approved by Council by a majority vote.

VIII. Deficit Unassigned Fund Balance
A. If the General Fund fund balance or net asset balance is not positive at any year-end, the City shall develop a funding plan and a timeframe to bring it into a positive state.

The unassigned fund balance deficit in General Fund will be restored through the same steps as set forth in Section VII.

IX. During Close of Fiscal Year Surplus Fund Balance

A. At June 30th each fiscal year, if the Committed and Assigned fund requirements have been met and the minimum Unassigned fund balance has been met as stated in section VI, any fiscal year end surplus of revenues over expenditures (including any carryovers) will be Committed by the City Manager as follows:

1. The remaining amounts may be utilized to increase any reserve balance beyond the minimum funding level, but never in excess of the maximum as covered by the policy.

X. Surplus Unassigned Fund Balance

A. Unassigned fund balance in General Fund will be considered a surplus if over 35% of the budgeted expenditures and outgoing transfers of future budget year.

1. If unassigned fund balance of the General Fund ever exceed 70%, the City will consider such fund balance surpluses, in conjunction with the annual budget process, to be used, in no particular order of priority, for:
i. Provide additional funding for other assigned or committed fund balance requirements.
785
City of Moreno Valley Fiscal Services Policy
#3.11

Page 11 of 1211 ends

Fund Balance and Financial Reserves Policy
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

ii. Capital projects and equipment.
iii. Payment of long-term obligations.
iv. One-time expenditures that are non -recurring in nature and which will not require additional future expense outlay for maintenance, additional staffing or other recurring expenditures.

B. Appropriation from General Fund’s unassigned fund balance to fund reserves shall require the approval of City Council.

XI. Implementation and Review

A. Upon adoption of this policy, the City Council authorizes the Financial and Management Services Department to establish standards and procedures, which may be necessary for its implementation.

B. The City Council shall review and approve this policy via resolution at a minimum of every two years to ensure it continues to meet the needs of the City given economic factors and the current financial status at that time interval.
786
City of Moreno Valley Fiscal Services
Policy #3.11

Page 12 ends

1211
Attachment A
Approved by: City Council
02/07/17
Last Revised: 05/02/2023, 06/04/2024, 11/19/2024, 05/06/2025

Moreno Valley Fund Balance and Financial Reserves Summary

General Fund
Minimum Maximum
Committed to: Reserve Stabilization (“Emergency Fund”) 15% Assigned to: Economic Uncertainty Reserve (“Rainy Day Fund”) 15% Unassigned (“Cash Flow”) 17% 70%

Measure U Fund
Minimum Maximum
Assigned to: Measure U Reserve 100%

Debt Service
Reserve Set by Debt Covenants

Enterprise (MVU)
Minimum Maximum
Assigned to: Operating Reserve 20% 100%
Assigned to: Capital Reserve 5% 100%
Assigned to: Emergency/Contingency Reserve 2% 10%
Unrestricted ("Cash Flow") 25% 75%

Internal Service Funds

Minimum Maximum
General Liability*
Workers’ Compensation*

Technology **

75%

150%
Facilities ** 3% 50%
Fleet ** 50% 100%
Equipment ** 75% 150%

Unfunded Liabilities ***

25%

100%
* Based on Actuarial recommended funding level
** Based on recorded purchase price
*** Based on accrued or actuarial liability

787

Report to City Council

ID: 26-0158 Page 1

TO: Mayor and City Council

FROM: Jeremy Bubnick, Parks & Community Services
Director

AGENDA DATE: May 5, 2026

TITLE: PARKS, COMMUNITY SERVICES, AND TRAILS
COMMISSION ANNUAL REPORT 2025/2026 (REPORT
OF: PARKS AND COMMUNITY SERVICES) (DISTRICT:

ALL DISTRICTS)

TITLE SUMMARY: Parks, Community Services, and Trails Commission Annual Report

DISTRICT: All Districts

Recommendation(s)

That the City Council:

1. Receive and file the Parks, Community Services, and Trails Commission Annual Report for 2025/2026

SUMMARY

The Parks, Community Services and Trails Commission encourages public involvement in decision -making, executes administrative tasks when directed, and offers policy recommendations to the city council. The Commission aids the City in maintaining over 415 acres of park and trails and hosts many programs for youth, adults, and our senior community.

DISCUSSION

The Parks, Community Services & Trails Commission was created by the City Council to:
788

ID: 26-0158 Page 2
(1) provide a forum and opportunity for community participation in the public decision - making process; (2) perform specific administrative acts on behalf of the City; and (3) recommend to City Council specific policy -related issues for possible City Council study and action.

COMPOSITION

The following persons served during the past fiscal year as voting members:

1. Rylee Peak, Chair, 6/30/2027

2. James Baker, Vice Chair, 6/30/2026

3. Fernando Michel, 6/30/2026

4. Barbara Baxter, 6/30/2028

5. Liza Arellano, 6/30/2028

6. Joseph Taplin, 6/30/2027

7. Nikita Wilson, 6/30/2027

The current Chair is Rylee Peak, and the current Vice Chair is James Baker.

OTHER ACTIVITIES

Recommend the naming of our newest upcoming park, Sunset Crossings Park.

Reviewed & discussed the 2026 Special Events Calendar.

Reviewed and discussed PCST Commission Procedural Guidelines.

Received and reviewed the CIP (Capital Improvement Plan) Update.

Reviewed and approved Commission polo shirts.

Discussed a budget for the Commission.

Reviewed and discussed the new policy for City Commissions.

Discussed the Flight Deck Bike Park.

Welcomed several new Commissioners.

Discussed adopting a park.

Discussed 4th of July Parade Float.

Elected our Chair and Vice Chair.

Discussed a Future Baseball Event.

789

ID: 26-0158 Page 3
Received Public Comments.

Received a Special Events Presentation

Received an update on the City’s ASES program.

Various Commissioners attended:

o Ribbon Cutting of the new playground at Celebration Park o Ribbon Cutting of the new playground at Towngate II Park o Moreno Valley’s State of the City
o El Grito
o October 11, 2025 Community Day of Service
o Moreno Valley Sheriff Station’s Trunk or Treat
o Fun Color Run
o Holiday Snow Day and Tree Lighting Ceremony
o Opening of the Flight Deck Bike Park
o Numerous City Council Meetings

FUTURE ITEMS

Senior Center expansion project will be completed in 2026.

Equestrian Center Park Improvement is estimated to be completed in Summer 2026.

New restroom at the Civic Center Amphitheater is estimated to be completed in December 2026.

ATTENDANCE

The Commission held 8 regular meetings and 0 special meetings.

Name Regular Meeting Absences Special Meeting Absences Percent Absent

Rylee Peak 0/8 0/0 0%
James Baker 1/8 0/0 12.5%
Fernando Michel 2/8 0/0 25%
Barbara Baxter 0/8 0/0 0%
Liza Arellano 0/6 0/0 0%
Joseph Taplin 1/6 0/0 16.67%
Nikita Wilson 0/6 0/0 0%

ALTERNATIVES

1. Approve and authorize the recommended actions as presented in this staff report. 790

ID: 26-0158 Page 4
Staff recommend this alternative.

2. Do not approve and authorize the recommended actions as presented in this staff report. Staff does not recommend this alternative.

FISCAL IMPACT

There is no fiscal impact associated with receiving and filing this report.

NOTIFICATION

Publication of the Agenda.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Arlene Celis Jeremy Bubnick
Management Assistant Parks & Community Services Director

Concurred By:

Claudia Torres
Special Events & Facilities Division Manager

CITY COUNCIL GOALS

Advocacy: Develop cooperative intergovernmental relationships and be a forceful advocate of City policies, objectives, and goals to appropriate external governments, agencies and corporations.

CITY COUNCIL STRATEGIC PRIORITIES

1. Economic Development

2. Public Safety

3. Library

4. Infrastructure

5. Beautification, Community Engagement, and Quality of Life

6. Youth Programs

791

ID: 26-0158 Page 5
Report Approval Details
Document Title: STAFFREPORT_PCS_ANNUAL REPORT_PCST
COMMISSION.docx
Attachments: - MESSAGE FROM THE CHAIR.docx
- Parks Community Services and Trails Commission
Presentation_ -2.pdf
Final Approval Date: Apr 30, 2026

This report and all of its attachments were approved and signed as outlined below:

Jeremy Bubnick
Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
792

MESSAGE FROM THE CHAIR

On behalf of the Parks, Community Services, and Trails Commission, I am proud to share this year’s annual report and reflect on the work our commission has done together in the City of Moreno Valley. Serving on this commission has shown me how much our parks, programs, and trails truly matter to the people in our community. Behind every meeting, discussion, and recommendation is a shared goal of making Moreno Valley a place where residents feel connected and supported.

This year, t he commission continued to review projects, support community programs, and provide input that helps guide the future of our parks and recreation system. What stands out most is the teamwork involved. Commissioners, city staff, and residents all play an im portant role, and that collaboration is what helps ideas turn into real improvements for our community.

Personally, being part of this commission has made me appreciate how important it is to listen to residents and think about the long -term impact of the decisions we help shape.

Many of the parks, trails, and services discussed throughout this report are places where families gather, kids play, and community events bring people together. That connection is what motivates our work.

As you read this report, I hope it shows not only the progress made this year but also the dedication of everyone involved. The commission remains committed to continuing this work and supporting efforts that make Moreno Valley an even better place to live, gather, and enjoy our shared spaces.

Sincerely,

Commissioner Rylee Peak
Chairperson | Parks, Community Services, and Trails Commission City of Moreno Valley

793

PARKS, COMMUNITY

SERVICES, AND TRAILS

COMMISSION
COMMISSION ANNUAL REPORT 25-26
794

INTRODUCTION
The Parks, Community Services, and Trails Commission encourages public involvement in decision-making, executes administrative tasks when directed, and offers policy recommendations to the city council. The Commission aids the City in maintaining over 540 acres of park and trails and hosts many programs for youth, adults, and our senior community.
795

MEET THE COMMISSION
Rylee Peak James Baker
Chair Vice Chair
Fernando Michel Barbara Baxter
Liza Arellano Joseph Taplin Nikita Wilson
796

RECOMMENDATIONS & REVIEWS
• Naming Sunset Crossings Park
• Parks, Community Services, and Trails Commission
Annual Report
• 2026 Special Events Calendar
• Capital Improvement Plan Update
• Flight Deck Bike Park
• City’s ASES Program
797

EVENTS ATTENDED
• Celebration Park New Playground
• State of the City
• El Grito
• Community Day of Services
• MV Sheriffs Trunk or Treat
• Color Run
• Veteran’s Day Ceremony
• Tree Lighting Ceremony
• Flight Deck Bike Park Opening
• Multicultural and Art Festival
• City Council Meetings
798

FUTURE ITEMS
• Senior Center Expansion
• Equestrian Center Improvements
• Civic Center Amphitheater Restroom
• Community Park Restroom
Restoration
• New Park namings
799

THANK YOU
The Parks, Community Services, & Trails Commission was created by the City Council to: (1) provide a forum and opportunity for community participation in the public decision -making process; (2) perform specific administrative acts on behalf of the City; and (3) recommend to City Council specific policy-related issues for possible City Council study and action.800

Report to City Council

ID: 26-0175 Page 1

TO: Mayor and City Council

FROM: Jeremy Bubnick, Parks & Community Services
Director

AGENDA DATE: May 5, 2026

TITLE: SENIOR CITIZENS’ COMMISSION ANNUAL REPORT
2025/2026 (REPORT OF: PARKS AND COMMUNITY
SERVICES) (DISTRICT: ALL DISTRICTS)

TITLE SUMMARY: Senior Citizens’ Commission Annual Report

DISTRICT: All Districts

Recommendation(s)

That the City Council:

1. Receive and file the Senior Citizens’ Commission Annual Report for 2025/2026.

SUMMARY

The Senior Citizens’ Commission shall have the general power and duty to act in an advisory capacity to the City Council in all matters pertaining to senior citizens. In addition to the foregoing general power and duty, the board shall have the following particular powers and duties:

 To inform and advise the City Council and City staff in matters related to individual and community senior citizen needs.
 To assist the City Council and City staff in formulating policies and practices for the senior citizen center.
 To make recommendations to the City Council and City staff for improving the effectiveness of senior citizen programs.
801

ID: 26-0175 Page 2
 To make recommendations to the City Council and City staff on any matter affecting senior citizens.
 To advise the City Council and City staff on methods of obtaining a site and funding for a permanent senior citizens' center within the City.  To carry out such other functions as may be assigned to the board by the City Council.  It is the mission of the Senior Citizens’ Commission to support and enhance the quality of life and well -being of our senior citizens by providing services, programs, and resources that promote healthy aging for greater independence within a culturally diverse and nurturing environment.

COMPOSITION

The following persons serve as voting members:

1. Hazel Lambert, Chairperson, Term Ending 06/30/2027

2. Reta Butler, Vice-Chairperson, Term Ending 06/30/2027

3. Robert Snyder, Commissioner, Term Ending 06/30/2027

4. Deborah Elkins, Commissioner, Term Ending 06/30/2028

5. Pauline Moya, Commissioner, Term Ending 06/30/2028

6. Martha Mieles, Commissioner, Term Ending 06/30/2027

7. Tina Escano, Alternate Commissioner, Term Ending 06/30/2027

RECOMMENDATIONS SUBMITTED TO COUNCIL/DISPOSITION

Senior Center Expansion Vendor - The Public Works Department recommended approving a contract with Plyco Corp. (Plyco) to complete the construction of the Moreno Valley Senior Center Expansion, Project No. 803 0057. This project expands the existing Senior Center by adding approx imately 4,000 square feet of new building space on the south side of the existing building. The new expansion will be used to provide Moreno Valley seniors with additional programs, classes, events, and social activities. The construction period is scheduled to begin March 2026 and conclude in March 2027. The contract was authorized in the amount of $5,963,451. City Council approved the authorization on December 2, 2025.

COMMUNITY EVENTS AND SOCIAL ACTIVITIES

During this annual report period, the Senior Center hosted various social events and trips, which included:

 Cinco De Mayo
 Tea With Mom
 Summer Grillin’ & Chillin’
 Rummage Sale
 Casino Royal
 International Day
 Halloween Party
 Holiday Craft Sale
802

ID: 26-0175 Page 3
 Holiday Party
 New Years Bash
 Valentine’s Day
 Black History Celebration
 St. Patrick’s Day Celebration
 Casino Trips to Fantasy Springs (6)

EDUCATIONAL, HEALTH, AND SUPPORT PROGRAMS

The Senior Center continues to offer a variety of educational, health, and support services to help seniors remain informed, healthy, and connected to important resources. These programs helped to ensure that seniors have access to health services, educational opportunities, financial guidance, and community resources that support independence and well-being. Programs and services include:

 Office on Aging Nutrition Classes
 Health and Resource Fair
 Scam Prevention and Consumer Awareness Presentations
 Senior Center Townhall Meetings
 On-site Healthcare Agency Outreach
 Flu Vaccination Clinics
 AARP Tax Preparation Assistance
 Free Transportation Services

OTHER ACTIVITIES
Roles and Responsibilities Training - In June 2025, the City Attorney provided Commissioners with a Roles and Responsibilities training session as part of ongoing education and governance best practices.

4th of July Parade Participation - The Commission participated in the City’s annual 4th of July Parade celebration by engaging with the community and promoting awareness of senior services and programs.

State of the City Attendance - Commissioners attended the City’s annual State of the City event in August 2025 to represent the interests of the senior community and stay informed on citywide initiatives.

Senior Citizens’ Commission Elections - In September 2025, the Commissioners voted to re-elect Hazel Lambert and Reta Butler for another fiscal year term.

Senior Community Center Additions - Through the advisory efforts of the Commission, the Senior Community Center gained restroom adjustments and additions to be serving seniors in need.

Boards & Commissio ns Appreciation Event - On March 11, 2026, Commissioners attended the annual Boards and Commissions Appreciation Event hosted by the City 803

ID: 26-0175 Page 4
Clerk’s Office. Commissioners were recognized for their continued commitment to serving Moreno Valley’s senior community.

SENIOR CENTER PROGRAM STATISTICS

From April 2025 through March 2026, the Moreno Valley Senior Center delivered meals to homebound seniors, served hot lunches, and distributed food boxes to support the senior community.

Month Attendance Avg Daily
Attendance Membership Meals
Delivered
Hot
Lunches
Served
Food
Boxes
Distributed
Apr-25 4,528 196 4,768 2,800 2,497 275
May-25 4,016 191 4,869 2,800 2,377 275
Jun-25 4,324 206 4,952 2,800 2,152 275
Jul-25 4,889 222 5,031 2,800 2,506 300
Aug-25 4,850 230 5,143 2,800 2,425 300
Sep-25 5,223 261 5,281 2,800 2,481 300
Oct-25 5,424 235 5,326 2,800 2,826 300
Nov-25 5,069 281 5,419 2,800 1,986 400
Dec-25 4,087 204 5,493 2,800 2,158 400
Jan-26 4,560 228 5,591 2,800 2,218 400
Feb-26 5,842 292 5,852 2,800 2,840 400
Mar-26 5,096 242 5,784 2,800 2,545 400
TOTAL 57,908 2,788 63,509 33,600 29,011 4,025

SENIOR COMMUNITY CENTER HIGHLIGHTS
Secret Santa for a Senior Program - The Parks and Community Services hosted its annual “Secret Santa for a Senior” program in which served 140 seniors through the efforts of 61 City Staff and 9 Residents and Businesses.

ATTENDANCE

The Commission held 10 regular meetings during this fiscal year term.

Name
Regular
Meeting
Absences
Percent
Absent
Lambert 0/10 0%
Butler 0/10 0%
Synder 3/10 30%
Elkins 0/10 0%
P. Moya 1/10 10%
804

ID: 26-0175 Page 5
Mieles 0/10 0%
Alvarez 2/2 100%
R. Moya 2/2 100%

ALTERNATIVES

1. Approve and authorize the recommended actions as presented in this staff report.

Staff recommends this alternative.

2. Do not approve and authorize the recommended actions as presented in this staff report. Staff does not recommend this alternative.

FISCAL IMPACT

There is no fiscal impact associated with this item.

NOTIFICATION

Posting of Agenda.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Kimberly Reeder Jeremy Bubnick
Senior Management Analyst Parks & Community Services Director

Concurred By:

Nikki Hendricks
Community Services Division Manager

CITY COUNCIL GOALS

Advocacy: Develop cooperative intergovernmental relationships and be a forceful advocate of City policies, objectives, and goals to appropriate external governments, agencies and corporations.

Community Image, Neighborhood Pride and Cleanliness: Promote a sense of community pride and foster an excellent image about our City by developing and executing programs which will result in quality development, enhanced neighborhood preservation efforts, including home rehabilitation and neighborhood restoration.

Positive Environment: Create a positive environment for the development of Moreno Valley's future.

Public Facilities and Capital Projects: Ensure that needed public facilities, ro adway improvements, and other infrastructure improvements are constructed and maintained. 805

ID: 26-0175 Page 6
Public Safety: Provide a safe and secure environment for people and property in the community, control the number and severity of fire and hazardous material inciden ts, and provide protection for citizens who live, work and visit the City of Moreno Valley.

Revenue Diversification and Preservation: Develop a variety of City revenue sources and policies to create a stable revenue base and fiscal policies to support essential City services, regardless of economic climate.

CITY COUNCIL STRATEGIC PRIORITIES

1. Economic Development

2. Public Safety

3. Library

4. Infrastructure

5. Beautification, Community Engagement, and Quality of Life

6. Youth Programs

806

ID: 26-0175 Page 7
Report Approval Details
Document Title: STAFFREPORT_PCS_ANNUAL REPORT_SENIOR
CITIZENS COMMISSION.docx
Attachments: - SCC Attendance 2025-2026.docx
- Moreno Valley Senior Citizens Commission Presentation - 2026.pdf
Final Approval Date: Apr 30, 2026

This report and all of its attachments were approved and signed as outlined below:

Jeremy Bubnick
Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
807
SENIOR CITIZENS’ COMMISSION – ATTENDANCE FOR FY 2025/2026 Commissioner/
Council Participants DATE OF MEETING
5/19/25 6/16/25 7/21/25 8/18/25 9/15/25 10/20/25 11/17/25 12/15/25 1/12/26 2/23/26 3/16/26 4/20/26 Meeting Type RM RM N N RM RM RM RM RM RM RM RM
Reta Butler A A N N A A A A A A A A
Deborah Elkins A A N N A A A A A A A A
Hazel Lambert A A N N A A A A A A A A
Martha Mieles A A N N A A A A A A A A
Pauline Moya A A N N A A A U A A A A
Robert Snyder A A N N A A A U E E A A
Oscar Alvarez E U N N X X X X X X X X
Robert Moya U U N N X X X X X X X X
Vacant X X X X X X X X X X X X
Vacant X X X X X X X X X X X X
Vacant X X X X X X X X X X X X
Tina Escano
(Alternate)

U U N N U U U U U U U U
Vacant
(Alternate)

X X X X X X X X X X X X
Ed Delgado-
Council Member

A A N N A A A A A U A A
Cheylynda Barnard-
Council Member

X X N N X X X X X U X X

RM- Regular Meeting SM – Special Meeting N – No Meeting

A – Attended E – Excused Absence U – Unexcused Absence X- Not Applicable (Used for meetings commissioners were not appointed to serve)

808

MORENO VALLEY SENIOR CENTER
809
SENIOR CITIZENS’ COMMISSIONERS
810

MISSION STATEMENT
It is the mission of the Senior Citizens’ Commission to support and enhance the quality of life and well-being
of our senior citizens by providing services, programs, and resources that promote healthy aging for greater
independence within a culturally diverse and nurturing
environment.
811
4,540 square feet of new building space
812
Senior Center Community Highlights
A Day at the Senior Center
Educational, Health & Support Programs
Health and Resource Fair, including on-site healthcare agencies to answer questions and offer services.

Shuttle services – medical and grocery needs.

Office on Aging Nutrition classes, Scam Prevention and Consumer Awareness presentation and CPR classes.

Family Services Association (hot lunches) – avg.122 per day; Homebound meal delivery – avg. 2,800 monthly; and Food boxes – avg. 335 monthly.

Serve as a Warming Center – temperature falls below 37 degrees and Cooling Center – temperature exceeds 97 degrees.

Senior Center Town Hall meetings – Bible Study.

Assist with tax preparation, ELS classes, and computer literacy.

Seniors will receive a friendly
greeting at the reception desk.
813
Senior Center Events & Social Activities
St. Patrick’s Day Celebration Cinco De Mayo Summer Grillin’ & Chillin’ Tea with Mom
Holiday Craft
Sales
Black History
Celebration International Day
Casino Trips to
Fantasy Springs New Year’s Bash Halloween Party
Holiday Party
(Secret Santa)
Classes (Sewing,
Art, Cards, Bunco,
Pool Tables, Bingo,
etc.)
Rummage Sales
814
This Photo by Unknown Author is licensed
under CC BY-SA-NC
815
❖ Commissioners embody our mission
and actively engage in activities that
enhance the quality of life & well-being
of our seniors.
❖Zumba
❖Silver Age Yoga
❖Fit after 50
816
❖ Teaching English proficiency -
often incorporating cultural
education to help seniors
navigate new environments.
❖ The English as a Second
Language (ESL) classroom helps
seniors develop skills in
listening, speaking, reading, and
writing.
817
❖ Black History Celebration –
Mistress of Ceremony
❖ Instructor - R&B Get Fit &
Rockin’ Chair Exercise
818
819
Boards & Commission Appreciation Dinner
820
WE’RE COOL!
821

Report to City Council

ID: 26-0180 Page 1

TO: Mayor and City Council
Mayor and City Council Acting in its Capacity as
President and Members of the Board of Directors of
the Moreno Valley Community Services District (CSD)

FROM: Jeremy Bubnick, Parks & Community Services
Director

AGENDA DATE: May 5, 2026

TITLE: REVIEW AND CONSIDER THE PUBLIC ARTS
COMMISSION’S APPROVAL FOR UTILITY BOX ART

PROGRAM APPLICATION - AIVAREE AGUILAR AT

THE CORNER OF NASON ST AND HOSPITAL (EAST
HOSPITAL ENTRANCE) (REPORT OF: PARKS AND
COMMUNITY SERVICES) (DISTRICT 3)

TITLE SUMMARY: Request to Review and Consider the Public Arts Commission’s Approval of Utility Box Art Program
Application- Aivaree Aguilar at the Corner of Nason St. and Hospital (East Hospital Entrance).

DISTRICT: District 3

The Public Arts Commission’s Recommendation(s)

That the City Council and CSD:

1. Receive and file the artist presentation; and

2. Review and consider the Public Arts Commission’s approval of Utility Box Art Program Application from Aivaree Aguilar for the design of a utility box wrap at the intersection of Nason St. and Hospital (East Hospital Entrance); and

822

ID: 26-0180 Page 2

3. Authorize the Executive Director and or its designee to enter into an agreement for services with the approved applicant utilizing funding from DIF Public Art Fund 3316.

SUMMARY

This report recommends that the Council review and consider approval of the Utility Box Art Program Application submitted by Aivaree Aguilar for the design a utility box wrap at the intersections of Nason St. and Hospital (East Hospital Entrance). The amount of funding being requested by the applicant is $500.

If approved, Parks & Community Services staff will work with the selected applicant to enter into a Professional Services Agreement . Due to the applicant being a minor, the agreement will be executed with the parent/g uardian, Nadine Aguilar, for completion of the proposed project.

The Public Art Program will utilize funding from Development Impact Fees (DIF) -Public Art Fund 3316.

DISCUSSION

On June 20, 2023, the City Council approved the City of Moreno Valley’s Public Art Policy which includes guidelines regarding submittal process, selection criteria, installation, deinstallation, and agreements as it relates to the Public Art Program. It further considers the role of the Public Arts Commission and calls for City Council to make the final decision on all public art on City of Moreno Valley property.

Per the approved Public Art Policy, “Public Art” is defined as artistic works created by artists as unique and original works located in a public space or facility and accessible to the public. Public Art includes works of a permanent or temporary nature. “Public Art” can be in the form of exhibit, performance, installation, integration of art and architecture, and a unique physical environment or feature that integrates art in the city. Eligible mediums include but are not limited to painting, mural, drawing, sculpture, photography, landscaping, water feature, components of a building, works of sound and/or light, and spoken word. Mass produced or standardized art, mechanical reproductions, or directional signage are not eligible mediums.

During a meeting held on April 22, 2026, the Public Arts Commission approved the subject application to be forwarded to the City Council for review and final funding consideration.

ALTERNATIVES

1. Approve the Public Arts Commission’s recommendations; or

2. Do not Approve the Public Arts Commission’s recommendations; or

3. Provide Staff with alternate direction.

823

ID: 26-0180 Page 3

FISCAL IMPACT

Funding for the Public Art Program was approved in the FY 2025/26 Adopted Operating Budget and is in DIF Public Art Fund 3316.

NOTIFICATION

Publication of Agenda.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Jazmin Alvarez Barragan Jeremy Bubnick
Parks & Community Services Outreach Manager Parks & Community Services Director

Concurred By:

Kimberly Reeder
Senior Management Analyst

CITY COUNCIL GOALS

Advocacy: Develop cooperative intergovernmental relationships and be a forceful advocate of City policies, objectives, and goals to appropriate external governments, agencies and corporations.

Positive Environment: Create a positive environment for the development of Moreno Valley's future.

CITY COUNCIL STRATEGIC PRIORITIES

1. Economic Development

2. Public Safety

3. Library

4. Infrastructure

5. Beautification, Community Engagement, and Quality of Life

6. Youth Programs

824

ID: 26-0180 Page 4
Report Approval Details
Document
Title:

STAFFREPORT_PCS_UTILITYBOX_AIVAREEAGUILAR.docx
Attachments: - Aviaree Aguilar - Presentation.pdf
- Aviaree Aguilar - Design.jpg
Final Approval
Date:

Apr 30, 2026

This report and all of its attachments were approved and signed as outlined below:

Jeremy Bubnick
Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
825
Artist Introduction
My name is Aivaree and I am a high school senior
that will be graduating this spring.

I love art, it has always been a way to express myself, whether it be through drawings on paper or digital
creations, it is something I really love doing. I enjoy drawing animals, nature scenes and fantasy
creatures the most.

When I enter college this fall, I plan to study Animal
Science and hope to become a veterinarian.
826
Samples of Past Work
827
Proposed Art project
“The Birds of Moreno Valley and California”
828
Proposed Location and Budget
The budget I have requested for my artwork is
$500.

Corner of Nason St. & Hospital
829
Thank You!
830
831

Report to City Council

ID: 26-0151 Page 1

TO: Mayor and City Council
Mayor and City Council Acting in its Capacity as
President and Members of the Board of Directors of
the Moreno Valley Community Services District (CSD)

FROM: Jeremy Bubnick, Parks & Community Services
Director

AGENDA DATE: May 5, 2026

TITLE: REVIEW AND CONSIDER THE PUBLIC ARTS
COMMISSION’S APPROVAL FOR UTILITY BOX ART

PROGRAM APPLICATION- ALVARO ALVAREZ AT THE
CORNER OF FREDERICK ST. & ALESSANDRO BLVD
(REPORT OF: PARKS AND COMMUNITY SERVICES)
(DISTRICT 1)

TITLE SUMMARY: Request to Review and Consider the Public Arts Commission’s Approval of Utility Box Art Program
Application- Alvaro Alvarez at the Corner of Frederick St. & Alessandro Blvd.

DISTRICT: District 1

The Public Arts Commission’s Recommendation(s)

That the City Council and CSD:

1. Receive and file the artist presentation; and

2. Review and consider the Public Arts Commission’s approval of Utility Box Art Program Application from Alvaro Alvarez for the design of a utility box wrap at the intersections of Frederick St. & Alessandro Blvd.; and

832

ID: 26-0151 Page 2

3. Authorize the Executive Director and or its designee to enter into an agreement for services with the approved applicant utilizing funding from DIF Public Art Fund 3316.

SUMMARY

This report recommends that the Council review and consider approval of the Utility Box Art Program Application submitted by Alvaro Alvarez for the design of a utility box wrap at the intersections of Frederick St. & Alessandro Blvd. The amount of funding being requested by the applicant is $500.

If approved, Parks & Community Services staff will work with the selected applicant to enter into a Professional Services Agreement to complete the proposed project.

The Public Art Program will utilize funding from Development Impact Fees (DIF) -Public Art Fund 3316.

DISCUSSION

On June 20, 2023, the City Council approved the City of Moreno Valley’s Public Art Policy, which includes guidelines regarding submittal process, selection criteria, installation, deinstallation, and agreements as it relates to the Public Art Program. It further considers the role of the Public Arts Commission and calls for City Council to make the final decision on all public art on City of Moreno Valley property.

Per the approved Pu blic Art Policy, “Public Art” is defined as artistic works created by artists as unique and original works located in a public space or facility and accessible to the public. Public Art includes works of a permanent or temporary nature. “Public Art” can be in the form of exhibit, performance, installation, integration of art and architecture, and a unique physical environment or feature that integrates art in the city. Eligible mediums include but are not limited to painting, mural, drawing, sculpture, phot ography, landscaping, water feature, components of a building, works of sound and/or light, and spoken word. Mass produced or standardized art, mechanical reproductions, or directional signage are not eligible mediums.

During a meeting held on March 25, 2026, the Public Arts Commission approved the subject application to be forwarded to the City Council for review and final funding consideration.

ALTERNATIVES

1. Approve the Public Arts Commission’s recommendations; or

2. Do not Approve the Public Arts Commission’s recommendations; or

3. Provide Staff with alternate direction.

833

ID: 26-0151 Page 3

FISCAL IMPACT

Funding for the Public Art Program was approved in the FY 2025/26 Adopted Operating Budget and is in DIF Public Art Fund 3316.

NOTIFICATION

Publication of Agenda.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Jazmin Alvarez Barragan Jeremy Bubnick
Parks & Community Services Outreach Manager Parks & Community Services Director

Concurred By:

Kimberly Reeder
Senior Management Analyst

CITY COUNCIL GOALS

Advocacy: Develop cooperative intergovernmental relationships and be a forceful advocate of City policies, objectives, and goals to appropriate external governments, agencies and corporations.

Positive Environment: Create a positive environment for the development of Moreno Valley's future.

CITY COUNCIL STRATEGIC PRIORITIES

1. Economic Development

2. Public Safety

3. Library

4. Infrastructure

5. Beautification, Community Engagement, and Quality of Life

6. Youth Programs

834

ID: 26-0151 Page 4
Report Approval Details
Document
Title:

STAFFREPORT_PCS_UTILITYBOX_ALVAROALVAREZ.docx
Attachments: - Alvaro Alvarez- Presentation.pdf
- Alvaro Alvarez- Design.png
Final Approval
Date:

Apr 30, 2026

This report and all of its attachments were approved and signed as outlined below:

Jeremy Bubnick
Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
835
City of Moreno
Valley:

Utility Box Program
Public Arts Commision Meeting Presentation 3-25-2026836 Alvaro Alvarez
Hello, Nice to Meet you!
Innovative Media Librarian at UCR
837
Samples Of
Work
Item 01
Proposed
Locations
Item 02
Proposed Art
Project/Budeget
Item 03
838

01. 02. 03.

04. 05. 06.

Sample of Work
Animation2D ArtSewing/Textile
Laser cuttingRobotics3D Modeling
https://youtu.be/-Rad46AQD5w
839
Proposed Location
fredrick ST. & Alessandro.
840
Proposed Art/Budget
Asking Amount: $500
Title: Finding Your Place
841
Thanks You
For Your
Consideration
842
843

Report to City Council

ID: 26-0092 Page 1

TO: Mayor and City Council
Mayor and City Council Acting in its Capacity as
President and Members of the Board of Directors of
the Moreno Valley Community Services District (CSD)

FROM: Jeremy Bubnick, Parks & Community Services
Director

AGENDA DATE: May 5, 2026

TITLE: REVIEW AND CONSIDER THE PUBLIC ART S
COMMISSION’S APPROVAL FOR UTILITY BOX ART

PROGRAM APPLICATION- VANESSA GOMEZ AT IRIS
AVE. & KAISER, PERRIS BLVD. & IRIS AVE., AND IRIS
AVE. & TRAIL XING (REPORT OF: PARKS AND
COMMUNITY SERVICES) (DISTRICT 4)

TITLE SUMMARY: Request to Review and Consider the Public Arts Commission’s Approval of Utility Box Art Program
Application- Vanessa Gomez at the Corner s of Iris Ave. & Kaiser (Medical Office Entrance), Perris Blvd. & Iris Ave ., and Iris Ave. & Trail Xing (Juan Bautista Trail).

DISTRICT: District 4

Recommendation(s)

That the City Council and CSD:

1. Receive and file the artist presentation; and

2. Review and consider the Public Arts Commission’s approval of Utility Box Art Program Application from Vanessa Gomez for the design of three utility box wrap s at the intersections of Iris Ave. & Kaiser (Medical Office Entrance), Perris Blvd. & Iris Ave, and Iris Ave. Trail Xing (Juan Bautista Trail); and
844

ID: 26-0092 Page 2

3. Authorize the Executive Director and or its designee to enter into an agreement for services with the approved applicant utilizing funding from DIF Public Art Fund 3316.

SUMMARY

This report recommends that the Council review and consider approval of the Utility Box Art Program Application submitted by Vanessa Gomez for the design of three utility box wraps at the intersections of Iris Ave. & Kaiser (Medical Office Entrance), Perri s Blvd. & Iris Ave, and Iris Ave. Trail Xing (Juan Bautista Trail ). The amount of funding being requested by the applicant is $1,500.

If approved, Parks & Community Services staff will work with the selected applicant to enter into a Professional Services Agreement to complete the proposed project.

The Public Art Program will utilize funding from Development Impact Fees (DIF) -Public Art Fund 3316.

DISCUSSION

Per the approved Public Art Policy, “Public Art” is defined as artistic works created by artists as unique and original works located in a public space or facility and accessible to the public. Public Art includes works of a permanent or temporary nature. “Public Art” can be in the form of exhibit, performance, installation, integration of art and architecture, and a unique physical environment or feature that integrates art in the city. Eligible mediums include but are not limited to painting, mural, drawing, sculpture, photography, landscaping, water feature, components of a building, works of sound and/or light, and spoken word. M ass produced or standardized art, mechanical reproductions, or directional signage are not eligible mediums.

During a meeting held on February 18, 2026, the Public Arts Commission approved the subject application to be forwarded to the City Council for r eview and final funding consideration.

ALTERNATIVES

1. Approve the Public Arts Commission’s recommendations; or

2. Do not Approve the Public Arts Commission’s recommendations; or

3. Provide Staff with alternate direction.

845

ID: 26-0092 Page 3

FISCAL IMPACT

Funding for the Public Art Program was approved in the FY 2025/26 Adopted Operating Budget and is in DIF Public Art Fund 3316.

NOTIFICATION

Publication of Agenda.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Jazmin Alvarez Barragan Jeremy Bubnick
Parks & Community Services Outreach Manager Parks & Community Services Director

Concurred By:

Kimberly Reeder
Senior Management Analyst

CITY COUNCIL GOALS

Advocacy: Develop cooperative intergovernmental relationships and be a forceful advocate of City policies, objectives, and goals to appropriate external governments, agencies and corporations.

Community Image, Neighborhood Pride and Cleanliness: Promote a sense of community pride and f oster an excellent image about our City by developing and executing programs which will result in quality development, enhanced neighborhood preservation efforts, including home rehabilitation and neighborhood restoration.

Positive Environment: Create a po sitive environment for the development of Moreno Valley's future.

CITY COUNCIL STRATEGIC PRIORITIES

1. Economic Development

2. Public Safety

3. Library

4. Infrastructure

5. Beautification, Community Engagement, and Quality of Life

6. Youth Programs

846

ID: 26-0092 Page 4
Report Approval Details
Document Title: STAFFREPORT_PCS_UTILITYBOX_VANESSA GOMEZ.docx Attachments: - Vanessa Gomez- Presentation.pdf
- Vanessa Gomez- Designs.pdf
Final Approval
Date:

Apr 30, 2026

This report and all of its attachments were approved and signed as outlined below:

Jeremy Bubnick
Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
847
Canvas along the Road:

Utility Box Art
Canvas along the
Road:

Utility Box Art
By Vanessa Gomez
848

CONTENTS

CONTENTS
Artist Introduction . . . . . . . . . . . Slide 3
Samples of Past Work . . . . . . . . Slides 4 - 6
Proposed Art Project . . . . . . . . . Slides 7 -9
Budget . . . . . . . . . . . . . . . . . . . . . . . . Slide 10 849
ABOUT the ARTIST.

ABOUT the ARTIST.

Vanessa Gomez is an artist from the desert community of Victorville. Formally beginning her art career after receiving her A.S at VVC and B.F.A at AAU, she began her muralist venture in 2019. She’s painted murals of various sizes and types, from utility boxes to larger wall murals. Vanessa’s work can be seen across Victor Valley and greater Inland Empire communities where her work can be recognized by vivid
colors and sweeping lines.

In addition to her acrylic murals, Vanessa also enjoys working digitally. She has had the honor to create four digital designs for vinyl wrapping of utility boxes located in Tustin and Riverside cities.

Vanessa hopes her work, while drawing in to help create welcoming spaces, also brings happiness, curiosity, and inspiration to others.
850

PAST WORK

1. Su perheroes of Tustin, digital/ vinyl
Commissioned by: Tustin Community Foundation
Year: 2025. Location: Tustin Ranch Rd / Irvine Bl, Tustin CA

2. Sip and Strollin,’ digital/ vinyl
Commissioned by: Tustin Community Foundation
Year: 2025. Location: Tustin Ranch Rd/ Warner S, Tustin CA

3. Historic Downtown, digital/ vinyl
Commissioned by: Tustin Community Foundation
Year: 2025. Location: Bryan Ave / Newport Ave, Tustin CA 851

PAST WORK

4. To the Fu ture, digital / vinyl
Commissioned by: City of Riverside Public Works
Year: 2023. Location: Pierce St / Magnolia Ave, Riverside CA

5. Desert Wild, acrylic on metal
Commissioned by: City of Adelanto
Year: 2025. Location: Bartlett Rd / Route 395, Adelanto CA

6. E.H. Richardson, acrylic on metal
Commissioned by: City of Adelanto
Year: 2024. Location: Palmdale Rd / Route 395, Adelanto CA 852

PAST WORK

7. Blooming Gale, acrylic on metal
Commissioned by: City of Ontario Museum, Art and Culture Year: 2023. Location: N Lemon Ave (across Ontario Town
Square)

8. Mallard Deluge, acrylic on metal
Commissioned by: City of Riverside Public Works
Year: 2023. Location: Riverwalk Pkwy / Flatrock Rd, Riverside CA

9. Radiant Vitalization, acrylic on metal
Commissioned by: City of Claremont
Year: 2023. Location: Bonita Ave / Cambridge Ave, Claremont CA
853
PROPOSED CONCEPT 1
Radial Gnatcatchers
PROPOSED CONCEPT 1
Radial Gnatcatchers
Description
Radial Gnatcatchers is a colorful depiction of gnatcatchers, a local species of bird, accompanied by abstract representations of coastal sagebrush. A radial sun encompasses the birds and plants in a layered pattern.

Proposed Location:

IRIS AVE & KAISER
(HOSPITAL & MEDICAL OFFICE

ENTRANCE)
854
PROPOSED CONCEPT 2
Night Bloom Dancing with Moths
PROPOSED CONCEPT 2
Night Bloom Dancing with Moths
Description
Night Bloom Dancing with Moths is inspired by a Cereus Peruvianus cactus blooming its ﬂowers at night. I created a night scene with sphinx moths pollinating the ﬂowers under a bright moon and shooting stars. The sky's colors dance across the design to suggest movement.

Proposed Location:

IRIS AVE & TRAIL XING
(JUAN BAUTISTIA TRAIL)
855
PROPOSED CONCEPT 3
Gila Talavera
PROPOSED CONCEPT 3
Gila Talavera
Description
Gila Talavera depicts local lizard species, Gila Monsters. Here I wanted to create a fun design with bold lines based on the unique lizard with patterns inspired by Mexican talavera pottery and design. Gila Monsters are native to both the US and Mexico, and so the design connects to both of my cultures being a Chicana.

Proposed Location:

PERRIS BLVD & IRIS AVE
856
BUDGET
BUDGET
$500
per approved design
857
Thank you,
I hope to work with you!
IG: @imaginevivid_vmg Website:
vanessamgomez.art
858
Radial Gnatcatchers
Description
Radial Gnatcatchers is a colorful depiction of gnatcatchers, a local species of bird, accompanied by abstract representations of coastal sagebrush. A radial sun encompasses the birds and plants in a layered pattern.

PROPOSED CONCEPT 1 IRIS AVE & KAISER
(HOSPITAL & MEDICAL OFFICE

ENTRANCE)
Proposed Location:
859
Night Bloom Dancing with Moths
Description
Night Bloom Dancing with Moths is inspired by a Cereus Peruvianus cactus blooming its ﬂowers at night. I created a night scene with sphinx moths pollinating the ﬂowers under a bright moon and shooting stars. The sky's colors dance across the design to suggest movement.

PROPOSED CONCEPT 2

IRIS AVE & TRAIL XING
(JUAN BAUTISTIA TRAIL)
Proposed Location:
860
Gila T alavera
Description
Gila T alavera depicts local lizard species, Gila Monsters. Here I wanted to create a fun design with bold lines based on the unique lizard with patterns inspired by Mexican talavera pottery and design. Gila Monsters are native to both the US and Mexico, and so the design connects to both of my cultures being a Chicana.

PROPOSED CONCEPT 3

PERRIS BLVD & IRIS AVE
Proposed Location:
861

Report to City Council

ID: 26-0148 Page 1

TO: Mayor and City Council
Mayor and City Council Acting in its Capacity as
President and Members of the Board of Directors of
the Moreno Valley Community Services District (CSD)

FROM: Jeremy Bubnick, Parks & Community Services
Director

AGENDA DATE: May 5, 2026

TITLE: REVIEW AND CONSIDER THE PUBLIC ARTS
COMMISSION’S APPROVAL FOR UTILITY BOX ART

PROGRAM APPLICATION- ALEXANDRA GARCIA AT
THE CORNER OF PIGEON PASS RD. & IRONWOOD
AVE. (REPORT OF: PARKS AND COMMUNITY
SERVICES) (DISTRICT 2)

TITLE SUMMARY: Request to Review and Consider the Public Arts Commission’s Approval of Utility Box Art Program
Application- Alexandra Garcia at the Corner of Pigeon Pass Rd. & Ironwood Ave.

DISTRICT: District 2

The Public Arts Commission’s Recommendation(s)

That the City Council and CSD:

1. Receive and file the artist presentation; and

2. Review and consider the Public Arts Commission’s approval of Utility Box Art Program Application from Alexandra Garcia for the design of a utility box wrap at the intersections of Pigeon Pass Rd. & Ironwood Ave.; and

862

ID: 26-0148 Page 2

3. Authorize the Executive Director and or its designee to enter into an agreement for services with the approved applicant utilizing funding from DIF Public Art Fund 3316.

SUMMARY

This report recommends that the Council review and consider approval of the Utility Box Art Program Application submitted by Alexandra Garcia for the design of a utility box wrap at the intersections of Frederick St. & Alessandro Blvd. The amount of funding being requested by the applicant is $500.

If approved, Parks & Community Services staff will work with the selected applicant to enter into a Professional Services Agreement to complete the proposed project.

The Public Art Program will utilize funding from Development Impact Fees (DIF) -Public Art Fund 3316.

DISCUSSION

On June 20, 2023, the City Council approved the City of Moreno Valley’s Public Art Policy, which includes guidelines regarding submittal process, selection criteria, installation , deinstallation, and agreements as it relates to the Public Art Program. It further considers the role of the Public Arts Commission and calls for City Council to make the final decision on all public art on City of Moreno Valley property.

Per the approved Public Art Policy, “Public Art” is defined as artistic works created by artists as unique and original works located in a public space or facility and accessible to the public. Public Art includes works of a permanent or temporary nature. “Public Art” can be in the form of exhibit, performance, installation, integration of art and architecture, and a unique physical environment or feature that integrates art in the city. Eligible mediums include but are not limited to painting, mural, drawi ng, sculpture, photography, landscaping, water feature, components of a building, works of sound and/or light, and spoken word. Mass produced or standardized art, mechanical reproductions, or directional signage are not eligible mediums.

During a meeting held on March 25, 2026, the Public Arts Commission approved the subject application to be forwarded to the City Council for review and final funding consideration.

ALTERNATIVES

1. Approve the Public Arts Commission’s recommendations; or

2. Do not Approve the Public Arts Commission’s recommendations; or

3. Provide Staff with alternate direction.

863

ID: 26-0148 Page 3

FISCAL IMPACT

Funding for the Public Art Program was approved in the FY 2025/26 Adopted Operating Budget and is in DIF Public Art Fund 3316.

NOTIFICATION

Publication of Agenda.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Jazmin Alvarez Barragan Jeremy Bubnick
Parks & Community Services Outreach Manager Parks & Community Services Director

Concurred By:

Kimberly Reeder
Senior Management Analyst

CITY COUNCIL GOALS

Advocacy: Develop cooperative intergovernmental relationships and be a forceful advocate of City policies, objectives, and goals to appropriate external governments, agencies and corporations.

Community Image, Neighborhood Pride and Cleanliness: Promote a sense of community pride and foster an excellent image about our City by developing and executing programs which will result in quality development, enhanced neighbor hood preservation efforts, including home rehabilitation and neighborhood restoration.

Positive Environment: Create a positive environment for the development of Moreno Valley's future.

CITY COUNCIL STRATEGIC PRIORITIES

1. Economic Development

2. Public Safety

3. Library

4. Infrastructure

5. Beautification, Community Engagement, and Quality of Life

6. Youth Programs

864

ID: 26-0148 Page 4
Report Approval Details
Document
Title:

STAFFREPORT_PCS_UTILITYBOXART_ALEXANDRAGARCIA.docx
Attachments: - Alexandra Garcia- Presentation.pdf
- Alexandra Garcia- Design.pdf
Final
Approval
Date:

Apr 30, 2026

This report and all of its attachments were approved and signed as outlined below:

Jeremy Bubnick
Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
865
Alexandra Garcia
Alexandra Garcia
Visual artist from Moreno
Valley with experience
working on city
commissioned art projects.

The colorful murals I create
draw the eye in, and provide
the community with a moment
of peaceful admiration.

My work points back to its
surroundings, highlighting the
environment of the local
community.

My aim is that in admiring the
mural, the viewer will feel
more in the moment, and then
take that experience with
them to continue admiring and
contemplating their
surroundings.
866
Examples of past public artworks
Examples of past public artworks
867
Title: “Every Drop Counts” Year: 2024
Title: “Every Drop Counts”
Year: 2024
Dimension: 160sqft
Media: Spray paint, premium
exterior paint,“World’s Best Anti
Graffiti Coating”
Location: Shadow Mountain
Park, Moreno Valley, CA
868
Title: “Wish Upon A Star”
Year: 2024
Medium: Water Based Spray Paint, Premium exterior paint,“World’s Best Anti Graffiti Coating” Dimensions: 732 sqft
Location: Gateway Park, Moreno Valley, CA
869
Side View
Title: “Wish Upon A Star”
Year: 2024
870
Title: “Natural Curiosity”
Year: 2023
Dimension: drinking water fountain
approx. 4ftx3ft
Media: Spray paint, acrylic paint,
“World’s Best Anti Graffiti Coating”
Location: Cesar Chavez Park,
Pomona CA
871

PIGEON PASS RD & IRONWOOD AVE
Utility box location
Utility box location
872
PROPOSED ARTWORK:

PROPOSED ARTWORK:

My design aims to provide the
surrounding urban area with a pop
of color and burst of life. The
inspiration and theme is a
celebration of the pollinators that are
responsible for the vibrant
landscapes and gardens in the city.

We often forget the important role
they play in our daily lives and how
they too contribute to bringing life
and color to the community. I
created a design for Hummingbirds
and Butterflies and would love to
create more.
“Moreno Valley Hummingbirds”
873
Budget:
original artwork to transform utility boxes into vibrant public art pieces; $500 per utility box artwork.
874
THANK YOU!
THANK YOU!
875
MorenoVALLEYMoreno

VALLEY VALLEY
Moreno Moreno

VALLEY VALLEY VALLEY VALLEY VALLEY VALLEY VALLEY
Moreno

VALLEY VALLEY VALLEY VALLEY
Moreno Moreno Moreno Moreno Moreno
MorenoVALLEYMoreno

VALLEY VALLEY
Moreno Moreno

VALLEY VALLEY VALLEY VALLEY VALLEY VALLEY VALLEY
Moreno

VALLEY VALLEY VALLEY VALLEY
Moreno Moreno Moreno Moreno Moreno
MorenoVALLEYMoreno

VALLEY VALLEY
Moreno Moreno

VALLEY VALLEY VALLEY VALLEY VALLEY VALLEY VALLEY
Moreno

VALLEY VALLEY VALLEY VALLEY
Moreno Moreno Moreno Moreno Moreno
MorenoVALLEYMoreno

VALLEY VALLEY
Moreno Moreno

VALLEY VALLEY VALLEY VALLEY VALLEY VALLEY VALLEY
Moreno

VALLEY VALLEY VALLEY VALLEY
Moreno Moreno Moreno Moreno Moreno
Moreno
VALLEY
Moreno
VALLEY
VALLEY
Moreno
Moreno
VALLEY
VALLEY
VALLEY
VALLEY
VALLEY
VALLEY
VALLEY
Moreno
VALLEY
VALLEY
VALLEY
VALLEY
Moreno
Moreno
Moreno
Moreno
Moreno
Moreno
VALLEY
Moreno
VALLEY
VALLEY
Moreno
Moreno
VALLEY
VALLEY
VALLEY
VALLEY
VALLEY
VALLEY
VALLEY
Moreno
VALLEY
VALLEY
VALLEY
VALLEY
Moreno
Moreno
Moreno
Moreno
Moreno
876

Report to City Council

ID: 26-0154 Page 1

TO: Mayor and City Council
Mayor and City Council Acting in its Capacity as
President and Members of the Board of Directors of
the Moreno Valley Community Services District (CSD)

FROM: Jeremy Bubnick, Parks & Community Services
Director

AGENDA DATE: May 5, 2026

TITLE: REVIEW AND CONSIDER THE PUBLIC ARTS
COMMISSION’S APPROVAL FOR UTILITY BOX ART

PROGRAM APPLICATION- ANDREW LYKO AT THE
CORNERS OF NASON ST. & BAY AVE. AND REDWING
DR. & CACTUS AVE (REPORT OF: PARKS AND
COMMUNITY SERVICES) (DISTRICT 3)

TITLE SUMMARY: Request to Review and Consider the Public Arts Commission’s Approval of Utility Box Art Program
Application- Andrew Lyko at the Corners of Nason St. & Bay Ave.(Moreno Elementary School) and Redwing Dr. & Cactus Ave. (Woodland Park).

DISTRICT: District 3

The Public Arts Commission’s Recommendation(s)

That the City Council and CSD:

1. Receive and file the artist presentation; and

2. Review and consider the Public Arts Commission’s approval of Utility Box Art Program Application from Andrew Lyko for the design of two utility box wraps at the intersections of Nason St. & Bay Ave. (Moreno Elementary School) and Redwing Dr. & Cactus Ave. (Woodland Park); and
877

ID: 26-0154 Page 2

3. Authorize the Executive Director and or its designee to enter into an agreement for services with the approved applicant utilizing funding from DIF Public Art Fund 3316.

SUMMARY

This report recommends that the Council review and consider approval of the Utility Box Art Program Application submitted by Andrew Lyko for the design of two utility box wraps at the intersections of Nason St. & Bay Ave. (Moreno Elementary School) and Redwing Dr. & Cactus Ave. (Woodland Park) . The amount of funding being requested by the applicant is $1,000.

If approved, Parks & Community Services staff will work with the selected applicant to enter into a Professional Services Agreement to complete the proposed project.

The Public Art Program will utilize funding from Development Impact Fees (DIF) -Public Art Fund 3316.

DISCUSSION

Per the approved Public Art Policy, “Public Art” is defined as artistic works created by artists as unique and original works located in a public space or facility and accessible to the public. Public Art includes works of a permanent or temporary nature. “Public Art” can be in the form of exhibit, performance, installation, integration of art and architecture, and a unique physical environment or feature that integrates art in the city. Eligible mediums include but are not limited to painting, mural, drawing, sculpture, photography, landscaping, water feature, components of a building, works of sound and/or light, and spoken word. Mass produced or standardized art, mechanical repro ductions, or directional signage are not eligible mediums.

During a meeting held on March 25, 2026, the Public Arts Commission approved the subject application to be forwarded to the City Council for review and final funding consideration.

ALTERNATIVES

1. Approve the Public Arts Commission’s recommendations; or

2. Do not Approve the Public Arts Commission’s recommendations; or

3. Provide Staff with alternate direction.

878

ID: 26-0154 Page 3

FISCAL IMPACT

Funding for the Public Art Program was approved in the FY 2025/26 Adopted Operating Budget and is in DIF Public Art Fund 3316.

NOTIFICATION

Publication of Agenda.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Jazmin Alvarez Barragan Jeremy Bubnick
Parks & Community Services Outreach Manager Parks & Community Services Director

Concurred By:

Kimberly Reeder
Senior Management Analyst

CITY COUNCIL GOALS

Advocacy: Develop cooperative intergovernmental relationships and be a forceful advocate of City policies, objectives, and goals to appropriate external governments, agencies and corporations.

Community Image, Neighborhood Pride and Cleanliness: Promote a sense of community pride and foster an excellent image about our City b y developing and executing programs which will result in quality development, enhanced neighborhood preservation efforts, including home rehabilitation and neighborhood restoration.

Positive Environment: Create a positive environment for the development of Moreno Valley's future.

CITY COUNCIL STRATEGIC PRIORITIES

1. Economic Development

2. Public Safety

3. Library

4. Infrastructure

5. Beautification, Community Engagement, and Quality of Life

6. Youth Programs

879

ID: 26-0154 Page 4
Report Approval Details
Document
Title:

STAFFREPORT_PCS_UTILITYBOXART_ANDREWLYKO.docx
Attachments: - Andrew Lyko- Keepers of Light Design.png - Andrew Lyko- Seeker of Light Design.png
- Andrew Lyko- Presentation.pdf
Final Approval
Date:

Apr 30, 2026

This report and all of its attachments were approved and signed as outlined below:

Jeremy Bubnick
Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
880
881
882
Andrew Lyko
Andrew Lyko
Visual Fine Artist
883
About me
About me
I am a multidisciplinary visual artist whose work
explores the tension between innocence and
decay, light and obscurity. Drawing from street
culture, neo-expressionism, and cinematic
romanticism, my practice transforms personal
mythology into universal emotion.

I build worlds that exist between fantasy and
form, translating emotion into environments and
characters that feel alive. Through Lyko Studios,
my work expands beyond painting into
storytelling, design, and immersive experiences.
884
885
Lyko Utility Boxes
Lyko Utility Boxes
886
Seeker of Light
Jason St. and Baye Ave.

Keepers of Light Redwing and Cactus
Keepers of Light
Redwing and Cactus
887
888
889
Budget
Budget
$500 each
890

Report to City Council

ID: 26-0153 Page 1

TO: Mayor and City Council
Mayor and City Council Acting in its Capacity as
President and Members of the Board of Directors of
the Moreno Valley Community Services District (CSD)

FROM: Jeremy Bubnick, Parks & Community Services
Director

AGENDA DATE: May 5, 2026

TITLE: REVIEW AND CONSIDER THE PUBLIC ARTS
COMMISSION’S APPROVAL FOR UTILITY BOX ART

PROGRAM APPLICATION- SHAYNE MITCHELL AT
THE CORNERS OF HEACOCK ST. & IRONWOOD AVE.

AND LASSELLE ST. & TRAIL XING (REPORT OF:

PARKS AND COMMUNITY SERVICES) (DISTRICT 2 &
4)

TITLE SUMMARY: Request to Review and Consider the Public Arts Commission’s Approval of Utility Box Art Program
Application- Shayne Mitchell at the Corners of Heacock St. & Ironwood Ave. and Lasselle St. & Trail Xing (Juan Bautista Trail – Entrance into Lake Perris).

DISTRICT: District 2 and 4

The Public Arts Commission’s Recommendation(s)

That the City Council and CSD:

1. Receive and file the artist presentation; and

2. Review and consider the Public Arts Commission’s approval of Utility Box Art Program Application from Shayne Mitchell for the design of two utility box wrap s at the intersections of Heacock St. & Ironwood Ave. and Lasselle St. & Trail Xing (Juan Bautista Trail – Entrance into Lake Perris); and
891

ID: 26-0153 Page 2

3. Authorize the Executive Director and or its designee to en ter into an agreement for services with the approved applicant utilizing funding from DIF Public Art Fund 3316.

SUMMARY

This report recommends that the Council review and consider approval of the Utility Box Art Program Application submitted by Shayne Mitchell for the design of two utility box wraps at the intersections of Heacock St. & Ironwood Ave. and Lasselle St. & Trail Xing (Juan Bautista Trail – Entrance into Lake Perris). The amount of funding being requested by the applicant is $1,000.

If approved, Parks & Community Services staff will work with the selected applicant to enter into a Professional Services Agreement to complete the proposed project.

The Public Art Program will utilize funding from Development Impact Fees (DIF) -Public Art Fund 3316.

DISCUSSION

Per the approved Public Art Policy, “Public Art” is defined as artistic works created by artists as unique and original works located in a public space or facility and accessible to the public. Public Art includes works of a permanent or temporary nature. “Public Art” can be in the form of exhibit, performance, installation, integration of art and architecture, and a unique physical environment or feature that integrates art in the city. Eligible mediums include but are not limited to painting, mural, drawi ng, sculpture, photography, landscaping, water feature, components of a building, works of sound and/or light, and spoken word. Mass produced or standardized art, mechanical reproductions, or directional signage are not eligible mediums.

During a meeting held on March 25, 2026, the Public Arts Commission approved the subject application to be forwarded to the City Council for review and final funding consideration.

ALTERNATIVES

1. Approve the Public Arts Commission’s recommendations; or

2. Do not Approve the Public Arts Commission’s recommendations; or

3. Provide Staff with alternate direction.

892

ID: 26-0153 Page 3

FISCAL IMPACT

Funding for the Public Art Program was approved in the FY 2025/26 Adopted Operating Budget and is in DIF Public Art Fund 3316.

NOTIFICATION

Publication of Agenda.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Jazmin Alvarez Barragan Jeremy Bubnick
Parks & Community Services Outreach Manager Parks & Community Services Director

Concurred By:

Kimberly Reeder
Senior Management Analyst

CITY COUNCIL GOALS

Advocacy: Develop cooperative intergovernmental relationships and be a forceful advocate of City policies, objectives, and goals to appropriate external governments, agencies and corporations.

Community Image, Neighborhood Pride and Cleanliness: Promote a sense of community pride and foster an excellent image about our City by developing and executing programs which will result in quality development, enhanced neighbor hood preservation efforts, including home rehabilitation and neighborhood restoration.

Positive Environment: Create a positive environment for the development of Moreno Valley's future.

CITY COUNCIL STRATEGIC PRIORITIES

1. Economic Development

2. Public Safety

3. Library

4. Infrastructure

5. Beautification, Community Engagement, and Quality of Life

6. Youth Programs

893

ID: 26-0153 Page 4
Report Approval Details
Document
Title:

STAFFREPORT_PCS_UTILITYBOXART_SHAYNEMITCHELL.docx
Attachments: - Shayne Mitchell- Presentation.pdf
- Shayne Mitchell- MoVal Sunset Design.png
- Shayne Mitchell- Native Mystics Design.png
Final
Approval
Date:

Apr 30, 2026

This report and all of its attachments were approved and signed as outlined below:

Jeremy Bubnick
Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
894
Shayne Mitchell
Shayne Mitchell
[email protected]
(760) 524-6035
[email protected]
Visual Artist
CSUSB Alumni
895

EXAMPLES OF PAST PUBLIC ARTWORKS

EXAMPLES OF PAST PUBLIC ARTWORKS
896
Title: “Internal Bloom”
Year: 2023
Dimension: approx.
50sqft
Media: Spray paint,
acrylic paint
Location: W. Indian Hill
& 8th st. Claremont,
CA
897
Title: “Rhythm of Change”
Title: “Rhythm of Change”
Year: 2024
Medium: Water Based
Spray Paint
Dimensions: 560 sqft
Location: Westbluff
Park, Moreno Valley, CA
898
Title: “Nature’s Flow”
Medium: Water Based Spray
Paint
Dimensions:189 ft x 9 ft
Year: 2023
Location: Jaycee Park Pomona CA
899
Title: “Sitting Blossom”
Medium: Water Based Spray
Paint
Year: 2024
900
Examples of Past Fine Artworks
Examples of Past Fine Artworks
901
Title: Energy Centers
Dimensions: 72in x 48in
Year: 2024
Title: “A Certain Journey”
Dimensions: 51in x 33in
Year: 2024
Title: BlackWhiteGrey
Dimensions: 12in x 12in
Year: 2024
902
Proposed work #1
Title: Native Mystics
Proposed work #1
Title: Native Mystics
903
Design #1
Location:

HEACOCK ST & IRONWOOD
904
Proposed work #2
Title: Moval Sunset
Proposed work #2
Title: Moval Sunset
905
Design #2
Location:

LASSELLE ST & TRAIL
XING
906
Budget
Budget
$500 per utility box artwork 2 digital renderings
Total: $1000
907
908
909

Moreno Valley City CouncilMay 5, 2026

Moreno Valley City Council
May 5, 2026