Agenda, regular meeting — Moreno Valley City Council, May 19, 2026 (part 1 of 4)

REGULAR MEETING
AGENDA

May 19, 2026
6:00 PM
City Hall Council Chamber – 14177 Frederick Street

CITY COUNCIL OF THE CITY OF MORENO VALLEY
MORENO VALLEY COMMUNITY SERVICES DISTRICT BOARD OF DIRECTORS*

CITY AS SUCCESSOR AGENCY FOR THE COMMUNITY REDEVELOPMENT AGENCY OF THE

CITY OF MORENO VALLEY

MORENO VALLEY HOUSING AUTHORITY BOARD OF DIRECTORS

MORENO VALLEY PUBLIC FINANCING CORPORATION BOARD OF DIRECTORS

MORENO VALLEY PUBLIC FINANCING AUTHORITY

BOARD OF LIBRARY TRUSTEES

MORENO VALLEY COMMUNITY FOUNDATION BOARD OF DIRECTORS

*The City Council receives a separate stipend from the Community Services District Board of Directors

Ulises Cabrera, Mayor
Elena Baca-Santa Cruz, Councilmember (District #1)
Edward A. Delgado, Councilmember (District #2)
Erlan Gonzalez, Mayor Pro Tem (District #3)
Cheylynda Barnard, Councilmember (District #4)

MEETING CALENDAR
City Council Regular Meetings
First and Third Tuesdays of the Month at 6:00 PM
City Council Closed Sessions
Scheduled As Needed Commencing at 4:00 PM or Thereafter City Council Special Recognition/Presentations
First and Third Tuesdays of the Month
Scheduled As Needed Commencing at 5:30 PM
City Council Study Sessions
Second Tuesdays of the Month
Scheduled As Needed Commencing at 6:00 PM
A. CALL TO ORDER
B. PLEDGE OF ALLEGIANCE
C. INVOCATION
Pastor Edward Ogwo from Heartbeat of God International Ministries D. LAND ACKNOWLEDGEMENT
We wish to acknowledge that we are on the unceded lands of the Cahuilla (kuh-wee-uh) and Páyomkawichum (Pah-YOM-KAH-WEE-chum) or Luiseño (lew-wee-SAY-nyoh) , who as original inhabitants, and now as Sovereign Tribal Nations, have continued to live and thrive upon these lands since time immemorial.

E. ROLL CALL
F. MOTIONS TO EXCUSE ABSENCES
Recommendation(s)
Approve Excused Absences
G. STAFF INTRODUCTIONS
H. APPROVAL OF ORDER OF AGENDA
Recommendation(s)
Approve Agenda Order
I. PUBLIC COMMENTS ON MATTERS NOT ON THE AGENDA
Speakers shall have a total of three minutes to comment on any matters not on the agenda.

Comments must pertain to matters within the subject matter jurisdiction of the City Council and/or Affiliated Boards.

J. JOINT CONSENT CALENDARS
Speakers have a total of three minutes to comment on all matters on the Joint Consent Calendar which are not pulled for separate discussion by the City Council and/or Affiliated Boards.

Any member of the City Council or Affiliated Boards may pull an item from the Joint Consent Calendar for discussion purposes, prior to approval of the Joint Consent Calendar.

After any requested discussion involving any given Consent item has taken place, all Consent items may be approved with one motion.
2 Recommendation(s)
Approve the Joint Consent Calendars
J.1 ORDINANCES – SECOND READING/ADOPTION - NONE
Waive the Full Reading of all Ordinances listed on the Agenda and Adopt all Ordinances by Title Only.

J.2 MINUTES - CITY COUNCIL- CLOSED SESSION - MAY 5, 2026 4:00 PM - NOTICE

OF CANCELLATION
J.3 MINUTES - CITY COUNCIL- REGULAR MEETING - MAY 5, 2026 6:00 PM Recommendation(s)
Approval of City Council and Affiliated Boards’ Minutes for May 5, 2026 Regular Meeting.

J.4 MINUTES - CITY COUNCIL - STUDY SESSION - MAY 12, 2026 6:00 PM Recommendation(s)
Approval of City Council and Affiliated Boards' Minutes for May 12, 2026 Study Session.

J.5 COUNCIL DISCRETIONARY EXPENDITURE REPORTS FOR FISCAL YEAR 2025- 2026, JULY 1, 2025 – FEBRUARY 28, 2026 (REPORT OF: CITY CLERK) (DISTRICT: ALL DISTRICTS)
Council Discretionary Expenditure Reports – February 2026 Recommendation(s)
That the City Council:

1. Receive and file the Fiscal Year 2025/2026 Council Discretionary Expenditure Report for July 1, 2025 – February 28, 2026.

J.6 COUNCIL DISCRETIONARY EXPENDITURE REPORTS FOR FISCAL YEAR 2025- 2026, JULY 1, 2025 – MARCH 31, 2026 (REPORT OF: CITY CLERK) (DISTRICT:

ALL DISTRICTS)
Council Discretionary Expenditure Reports – March 2026
Recommendation(s)
That the City Council:

1. Receive and file the Fiscal Year 2025/2026 Council Discretionary Expenditure Report for July 1, 2025 – March 31, 2026.

J.7 COUNCIL TRAINING & TRAVEL EXPENDITURE REPORTS FOR FISCAL YEAR 2025-2026 (REPORT OF: CITY CLERK) (DISTRICT: ALL DISTRICTS) 3 Council Training & Travel Expenditure Reports – February 2026 Recommendation(s)
That the City Council:

1. Receive and file Fiscal Year 2025/2026 City Council Training & Travel Expenditure Report for the month of February 2026.

J.8 COUNCIL TRAINING & TRAVEL EXPENDITURE REPORTS FOR FISCAL YEAR 2025-2026 (REPORT OF: CITY CLERK) (DISTRICT: ALL DISTRICTS) Council Training & Travel Expenditure Reports – March 2026 Recommendation(s)
That the City Council:

1. Receive and file Fiscal Year 2025/2026 City Council Training & Travel Expenditure Report for the month of March 2026.

J.9 ANNUAL REVIEW OF THE DEBT MANAGEMENT POLICY (REPORT OF:

FINANCIAL AND MANAGEMENT SERVICES) (DISTRICT: NOT APPLICABLE) Annual Review of the Debt Management Policy
Recommendation(s)
That the City Council:

1. Review and approve the Debt Management Policy.

J.10 ANNUAL STATEMENT OF INVESTMENT POLICY (REPORT OF: FINANCIAL AND MANAGEMENT SERVICES) (DISTRICT: NOT APPLICABLE)
Annual Statement Of Investment Policy
Recommendation(s)
That the City Council:

1. Adopt the Annual Statement of Investment Policy.

J.11 USA WASTE OF CALIFORNIA, INC. FISCAL YEAR 2026/27 RATE ADJUSTMENT (REPORT OF: FINANCIAL AND MANAGEMENT SERVICES) (DISTRICT: ALL

DISTRICTS)
USA Waste Of California, Inc. Fiscal Year 2026/27 Rate Adjustment Recommendation(s)
That the City Council:

1. Approve Resolution No 2026-XX Adopting the Rate Adjustment for the Solid Waste and Recycling Services as required by the Solid Waste and Recycling Franchise Agreement for Fiscal Year 2026/27.
4 J.12 ANNEXATION OF CERTAIN PARCELS INTO CFD NO. 2021-01 (PARKS MAINTENANCE) (REPORT OF: FINANCIAL AND MANAGEMENT SERVICES) (DISTRICTS: 3, 4)
Pursuant to Landowner Petitions, Annex Certain Parcels Into Community Facilities District No. 2021-01 (Parks Maintenance) (Reso No. CSD 2026-XX) Recommendation(s)
That the Community Services District:

1. Adopt Resolution No. CSD 2026-XX, a Resolution of Board of Directors of the Moreno Valley Community Services District, ordering the annexation of territory to Moreno Valley Community Services District Community Facilities No. 2021-01 (Parks Maintenance) and approving the amended maps for said District, for the specific properties as listed in the Discussion section of this staff report and as previously approved by the Landowner and certified by the City’s Election Official (Amendment Nos. 335, 337, and 339).

J.13 ANNEXATION OF CERTAIN PARCELS INTO CFD NO. 2023-01 (PUBLIC SAFETY SERVICES) (REPORT OF: FINANCIAL AND MANAGEMENT SERVICES) (DISTRICTS: 1, 3, 4)
Pursuant to Landowner Petitions, Annex Certain Parcels into Community Facilities District No. 2023-01 (Public Safety Services) (Reso No. 2026-XX) Recommendation(s)
That the City Council:

1. Acting as the legislative body of Community Facilities District No. 2023-01 (Public Safety Services), adopt Resolution No. 2026-XX, a Resolution of the City of Moreno Valley Community Facilities District, for the specific properties as listed in the Discussion section of this staff report and as previously approved by the Landowner and certified by the City’s Election Official (Amendments Nos.158, 162, 164, and 168).

J.14 APPROVAL OF THE MAXIMUM AND APPLIED SPECIAL TAXES FOR CERTAIN COMMUNITY FACILITIES DISTRICTS FOR FISCAL YEAR 2026/27 (REPORT OF:

FINANCIAL AND MANAGEMENT SERVICES) (DISTRICT: ALL DISTRICTS) Approval of FY 2026/27 Special Taxes for Certain Community Facilities Districts (All Districts)
Recommendation(s)
That the City Council:

1. As the legislative body of Moreno Valley Community Facilities District No. 5, Adopt Resolution No. 2026-XX, a Resolution of the City Council of the City of Moreno Valley, California, Approving the Continuation of the Community Facilities District No. 5 of the City of Moreno Valley Maximum and Applied Special Tax Rates for Fiscal 5 Year 2026/27, and Calculation Thereof.

2. As the legislative body of Moreno Valley Community Facilities District No. 7, Adopt Resolution No. 2026-XX, a Resolution of the City Council of the City of Moreno Valley, California, Approving the Continuation of the Improvement Area No. 1 of Community Facilities District No. 7 of the City of Moreno Valley Maximum and Applied Special Tax Rates for Fiscal Year 2026/27, and Calculation Thereof.

3. As the legislative body of Moreno Valley Community Facilities District No. 4- Maintenance, Adopt Resolution No. 2026-XX, a Resolution of the City Council of the City of Moreno Valley, California, Approving the Continuation of the Community Facilities District No. 4-Maintenance of the City of Moreno Valley Maximum and Applied Special Tax Rates for Fiscal Year 2026/27, and Calculation Thereof.

4. As the legislative body of the Community Facilities District No. 2014-01 (Maintenance Services), Adopt Resolution No. 2026-XX, a Resolution of the City Council of the City of Moreno Valley, California, Approving the Continuation of the Community Facilities District No. 2014-01 (Maintenance Services) Maximum and Applied Special Tax Rates for Fiscal Year 2026/27, and Calculation Thereof.

5. As the legislative body of the Community Facilities District No. 2023-01 (Public Safety Services), Adopt Resolution No. 2026-XX, a Resolution of the City Council of the City of Moreno Valley, California, Approving the Continuation of the Community Facilities District No. 2023-01 (Public Safety Services) Maximum and Applied Special Tax Rates for Fiscal Year 2026/27, and Calculation Thereof.

6. Authorize the Chief Financial Officer to adjust the proposed special tax rates in the event there are any parcel changes, clerical errors, or other adjustments as may be necessary between the date the special taxes were calculated and the date the fixed charges are submitted to the County of Riverside, provided the applied special tax does not exceed the maximum special tax and is in compliance with the Rate and Method of Apportionment of Special Tax for the district.

J.15 APPROVAL OF THE MAXIMUM AND APPLIED SPECIAL TAXES FOR CERTAIN COMMUNITY FACILITIES DISTRICTS FOR FISCAL YEAR 2026/27 (REPORT OF:

FINANCIAL AND MANAGEMENT SERVICES) (DISTRICT: ALL DISTRICTS) Approval of FY 2026/27 Special Taxes for Certain Community Facilities Districts Recommendation(s)
That the Community Services District:

1. Acting in its capacity as the Board of Directors for the CSD and as the legislative body of Community Facilities District No. 1, Adopt Resolution No. CSD 2026-XX, a Resolution of the Board for the Moreno Valley Community Services District of the City of Moreno Valley, California, Approving the Continuation of the Community Facilities District No. 1 Maximum and Applied Special Tax Rates for Fiscal Year 2026/27, and 6 Calculation Thereof.

2. Acting in its capacity as the Board of Directors for the CSD and as the legislative body of Community Facilities District No. 2021-01, Adopt Resolution No. CSD 2026- XX, a Resolution of the Board for the Moreno Valley Community Services District of the City of Moreno Valley, California, Approving the Continuation of the Community Facilities District No. 2021-01 Maximum and Applied Special Tax Rates for Fiscal Year 2026/27, and Calculation Thereof.

3. Authorize the Chief Financial Officer to adjust the proposed special tax rates in the event there are any parcel changes, clerical errors, or other adjustments as may be necessary between the date the special taxes were calculated and the date the fixed charges are submitted to the County of Riverside, provided the applied special tax does not exceed the maximum special tax and is in compliance with the Rate and Method of Apportionment of Special Tax for each district.

J.16 AUTHORIZE THE AGREEMENT FOR PROFESSIONAL SERVICES WITH CINTAS CORPORATION NO. 2 (REPORT OF: FINANCIAL AND MANAGEMENT
SERVICES) (DISTRICT: NOT APPLICABLE)
Uniform Rental and Workplace Solutions Agreement
Recommendation(s)
That the City Council:

1. Approve and award the Agreement for On-Site and/or Professional Services with Cintas Corporation No. 2 (Cintas), 6800 Cintas Boulevard, Mason, Ohio 45262-5737 to provide professional services and products for uniform purchase, rental and workplace solutions;

2. Authorize the City Manager, or designee to execute the Agreement for On-Site and/or Professional Services with Cintas, in the amount of $350,000, subject to approval of the City Attorney, for three years, with the option to execute two (2) 1- year extensions; and

3. Authorize the City Manager or designee to execute subsequent amendments to the Agreement with Cintas, including the authority to authorize associated purchase orders in accordance with the Agreement's terms, subject to the approval of the City Attorney and within the budgetary amounts previously approved by Council as part of the adopted and/or amended budget process.

J.17 RECEIPT OF QUARTERLY INVESTMENT REPORT FOR THE QUARTER ENDED MARCH 31, 2026 (REPORT OF: FINANCIAL AND MANAGEMENT SERVICES) (DISTRICTS: ALL DISTRICTS)
Quarterly Investment Report
Recommendation(s)
That the City Council:
7 1. Receive and file the Quarterly Investment Report for the quarter ended March 31, 2026, in compliance with the City's Investment Policy
J.18 LIST OF PERSONNEL CHANGES (REPORT OF: HUMAN RESOURCES) (DISTRICT: NOT APPLICABLE)
List of Personnel Changes (April 1, 2026 – April 30, 2026) Recommendation(s)
The City Council:

1. Ratify the list of personnel changes as described.

J.19 AUTHORIZE AN INCREASE TO THE FY 2025/26 ANNUAL PURCHASE ORDER

WITH RIVERSIDE UNIVERSITY HEALTH SYSTEM FOR SPECIALIZED MEDICAL SUPPORT SERVICES AND AUTHORIZE THE FY 2026/27 ANNUAL PURCHASE ORDER. (REPORT OF: POLICE) (DISTRICT: NOT APPLICABLE)
Authorize an Increase to the FY 2025/26 Annual Purchase Order with Riverside University Health System for Specialized Medical Support Services and Authorize the FY 2026/27 Annual Purchase Order.

Recommendation(s)
That the City Council:

1. Authorize a change order to increase the Riverside University Health System Purchase Order from $75,000 to $125,000 to provide the specialized medical support services necessary to meet operational needs for FY 2025/26.

2. Authorize the annual Purchase Order with Riverside University Health System for $125,000 for FY 2026/27 in accordance with the adopted budget.

3. Authorize the City Manager, or designee, to approve these and any other subsequent, non-substantive purchase order changes in accordance with the adopted budget as required to administer the services and ensure continuity of operations.

J.20 AUTHORIZATION TO AWARD A CONSTRUCTION CONTRACT AND

PROFESSIONAL SERVICE AGREEMENT FOR THE CITYWIDE PAVEMENT REHABILITATION PROGRAM FOR FISCAL YEAR 2025-26 (REPORT OF: PUBLIC WORKS) (DISTRICT: ALL DISTRICTS)
Authorization To Award A Construction Contract To Hardy & Harper, Inc. And An Agreement For Professional Consultant Geotechnical, Material Testing, And Construction Inspection Services To Certerra RMA Group For The Citywide Pavement Rehabilitation Program Fiscal Year 2025-26, Project Number 801 0115 Per California State Public Contract Code 22000 Et Seq.

Recommendation(s)
That the City Council:

1. Award a construction contract to Hardy & Harper, Inc. for the Citywide Pavement Rehabilitation Program Fiscal Year 2025-26 project and authorize the City Manager 8 to execute a contract with Hardy & Harper, Inc. in the amount of $4,606,000.00, funded by Senate Bill 1 (SB1) Funds (Fund 2000A) Road Maintenance and Rehabilitation Account (RMRA), Public Works Capital Projects Fund (Fund 3002), and Capital Improvement Grants Fund (Fund 3001 - CalRecycle Grant Funds);

2. Award an agreement for Professional Consultant Services to Certerra RMA Group to provide geotechnical, material testing, and construction inspection services for the Citywide Pavement Rehabilitation Program Fiscal Year 2025-26 project and authorize the City Manager to execute the agreement with Certerra RMA Group in the amount of $113,300.00;

3. Authorize the issuance of a purchase order to Hardy & Harper, Inc. in the amount of $5,527,200.00 (bid amount plus 20% contingency) once all parties have signed the contract;

4. Authorize the issuance of a purchase order to Certerra RMA Group in the amount of $135,960.00 (proposed amount plus 20% contingency) once all parties have signed the agreement; and

5. Authorize the City Manager or his or her designee to execute any subsequent change orders to the contract with Hardy & Harper, Inc. and to the agreement with Certerra RMA Group up to the purchase order amounts as necessary to complete the project, subject to the approval of the City Attorney.

J.21 ROAD CLOSURES FOR THE 4TH OF JULY PARADE AND FUNFEST (REPORT OF: PUBLIC WORKS) (DISTRICT 1)
Approve The Road Closures For The 4th Of July Parade And Funfest Recommendation(s)
That the City Council:

1. Approve all recommended road closures for the 2026 4th of July Parade and Funfest; and

2. Authorize the Moreno Valley Police Department and the Public Works Director/City Engineer authority to make additional changes or recommend road closures as needed for the event.

K. PUBLIC HEARINGS
Public testimony on each Public Hearing item shall be limited to three minutes per speaker and must pertain to the subject under consideration.

Those wishing to testify are encouraged to complete and submit a GOLDENROD speaker slip to the City Clerk Staff.

K.1 PUBLIC HEARING FOR DELINQUENT SOLID WASTE ACCOUNTS AND ABATEMENTS OF PUBLIC NUISANCES (RESO. NOS. 2026-XX AND 2026-XX) 9 (REPORT OF: FINANCIAL AND MANAGEMENT SERVICES) (DISTRICT: ALL

DISTRICTS)
Public Hearing for Delinquent Solid Waste and Abatements of Public Nuisances Accounts
Recommendation(s)
That the City Council:

1. Conduct the Public Hearing and accept public testimony regarding unpaid solid waste accounts and nuisance abatements to be applied to the Fiscal Year (FY) 2026/27 County of Riverside property tax roll for collection.

2. Adopt Resolution No. 2026-XX, a Resolution of the City Council of the City of Moreno Valley, California, confirming Statements of Costs against real properties located in the City of Moreno Valley for the abatements of public nuisances and directing that said Statements of Costs constitute a lien upon said properties.

3. Adopt Resolution No. 2026-XX, a Resolution of the City Council of the City of Moreno Valley, California, repealing, revising, and reenacting the provisions of Resolution 2017-41 and authorizing the collection of delinquent solid waste charges on the annual property tax roll.

4. Approve placing the submitted Property Assessment List of delinquent nuisance abatement accounts on the Fiscal Year (FY) 2026/27 Riverside County property tax roll for collection.

5. Direct the City Clerk to file with the Riverside County Tax Assessor’s office with a certified copy of Resolution No. 2026-XX and the Property Assessment List as required by Section 6.04.120 of the City of Moreno Valley Municipal Code.

6. Direct the City Clerk to file the Revised and Final Solid Waste Delinquency Report with the County of Riverside Auditor-Controller.

7. Authorize the Chief Financial Officer to adjust the proposed special assessments in the event there are any parcel changes, clerical errors, or other adjustments as may be necessary between the date the special taxes were calculated and the date the fixed charges are submitted to the County of Riverside, provided the applied special assessments do not exceed the maximum special assessments.

K.2 PUBLIC HEARING TO CONTINUE MORENO VALLEY COMMUNITY SERVICES DISTRICT ANNUAL PARCEL TAXES AND CHARGES FOR FISCAL YEAR 2026/27 (ZONE A, C, D, E, M, AND S) (REPORT OF: FINANCIAL AND MANAGEMENT SERVICES) (DISTRICT: ALL DISTRICTS)
Public Hearing for CSD Zones A, C, D, E, M, and S FY 2026/27 Proposed Parcel Taxes and Charges (Reso. Nos. CSD 2026-XX - CSD 2026-XX) Recommendation(s)
10 That the Community Services District:

1. Conduct a Public Hearing to consider the current Zones A, C, D, E, M, and S Moreno Valley Community Services District annual parcel taxes and charges as proposed for Fiscal Year 2026/27.

2. Adopt Resolution No. CSD 2026-XX, a Resolution of the Board for the Moreno Valley Community Services District of the City of Moreno Valley, California, Approving the Continuation of the Maximum and Applied Parcel Tax for Providing Zone A (Parks and Community Services) Services During Fiscal Year 2026/27, and Calculation Thereof.

3. Adopt Resolution No. CSD 2026-XX, a Resolution of the Board for the Moreno Valley Community Services District of the City of Moreno Valley, California, Approving the Continuation of the Maximum and Applied Parcel Tax for Providing Zone C (Arterial Street and Intersection Lighting) Services During Fiscal Year 2026/27, and Calculation Thereof.

4. Adopt Resolution No. CSD 2026-XX, a Resolution of the Board for the Moreno Valley Community Services District of the City of Moreno Valley, California, Approving the Continuation of the Maximum and Applied Parcel Tax for Providing Zone D (Parkway Landscape Maintenance) Services During Fiscal Year 2026/27, and Calculation Thereof.

5. Adopt Resolution No. CSD 2026-XX, a Resolution of the Board for the Moreno Valley Community Services District of the City of Moreno Valley, California, Approving the Continuation of the Maximum and Applied Parcel Tax for Providing Zone E (Extensive Landscape Maintenance) Services During Fiscal Year 2026/27, and Calculation Thereof.

6. Adopt Resolution No. CSD 2026-XX, a Resolution of the Board for the Moreno Valley Community Services District of the City of Moreno Valley, California, Approving the Continuation of the Maximum and Applied Parcel Tax for Providing Zone M (Commercial/Industrial/Multifamily Improved Median Maintenance) Services During Fiscal Year 2026/27, and Calculation Thereof.

7. Adopt Resolution No. CSD 2026-XX, a Resolution of the Board for the Moreno Valley Community Services District of the City of Moreno Valley, California, Approving the Continuation of the Maximum and Applied Parcel Tax for Providing Zone S (Sunnymead Boulevard Maintenance) Services During Fiscal Year 2026/27, and Calculation Thereof.

8. Authorize the Chief Financial Officer to adjust the proposed charges in the event there are any parcel changes, clerical errors, or other adjustments as may be necessary between the date the parcel charges were calculated and the date the fixed charges are submitted to the County of Riverside, provided the applied charges do not exceed the maximum charges and are in compliance with the formation 11 documents for each zone.

K.3 PUBLIC HEARING TO CONFIRM A DIAGRAM AND ASSESSMENTS FOR LIGHTING MAINTENANCE DISTRICT NO. 2014-01 FOR FISCAL YEAR 2026/27 (RESO. NO. CSD 2026-XX) (REPORT OF: FINANCIAL AND MANAGEMENT SERVICES) (DISTRICT: ALL DISTRICTS)
Public Hearing for Lighting Maintenance District No. 2014-01 for FY 2026/27 Proposed Levy of Real Property Assessments
Recommendation(s)
That the Community Services District:

1. Conduct the Public Hearing on the proposed levy of real property assessments for Moreno Valley Community Services District Lighting Maintenance District No. 2014-

01. 2. Adopt Resolution No. CSD 2026-XX, a Resolution of the Board for the Moreno Valley Community Services District of the City of Moreno Valley, California, Confirming a Diagram and Assessments for Fiscal Year 2026/27 in Connection with Moreno Valley Community Services District Lighting Maintenance District No. 2014-

01. 3. Authorize the Chief Financial Officer to adjust the proposed assessments in the event there are any parcel changes, clerical errors, or other adjustments as may be necessary between the date the assessments were calculated and the date the fixed charges are submitted to the County of Riverside, provided the applied assessments do not exceed the maximum assessments and are in compliance with the formation documents for the district.

K.4 PUBLIC HEARING TO CONFIRM A DIAGRAM AND ASSESSMENTS FOR LIGHTING MAINTENANCE DISTRICT NO. 2014-02 FOR FISCAL YEAR 2026/27 (RESO. NO. CSD 2026-XX) (REPORT OF: FINANCIAL AND MANAGEMENT SERVICES) (DISTRICT: ALL DISTRICTS)
Public Hearing for Lighting Maintenance District No. 2014-02 for FY 2026/27 Proposed Levy of Real Property Assessments
Recommendation(s)
That the Community Services District:

1. Conduct the Public Hearing on the proposed levy of real property assessments for Moreno Valley Community Services District Lighting Maintenance District No. 2014-

02. 2. Adopt Resolution No. CSD 2026-XX, a Resolution of the Board for the Moreno Valley Community Services District of the City of Moreno Valley, California, Ordering that Costs for Certain Improvements Shall Be Raised Through Installments Over a Period of Years and Confirming Diagrams and Assessments for Fiscal Year 2026/27 12 in Connection with Moreno Valley Community Services District Lighting Maintenance District No. 2014-02.

3. Authorize the Chief Financial Officer to adjust the proposed assessments in the event there are any parcel changes, clerical errors, or other adjustments as may be necessary between the date the assessments were calculated and the date the fixed charges are submitted to the County of Riverside, provided the applied assessments do not exceed the maximum assessments and are in compliance with the formation documents for the district.

L. GENERAL BUSINESS - NONE
Public comment on each General Business item shall be limited to three minutes per speaker and must pertain to the subject under consideration.

Those wishing to speak are encouraged to complete and submit a BLUE speaker slip to the City Clerk Staff.

M. REGIONAL COMMISSION/COMMITTEE/BOARD REPORTS
M.1 March Joint Powers Commission (JPC)
M.2 Riverside County Habitat Conservation Agency Board of Directors (RCHCA) M.3 Riverside County Transportation Commission (RCTC)
M.4 Riverside Transit Agency Board of Directors (RTA)
M.5 Western Riverside Council of Governments Executive Committee (WRCOG) M.6 Western Riverside County Regional Conservation Authority Board of Directors (RCA) M.7 School District/City Joint Task Force
M.8 Southern California Association of Governments (SCAG) N. EMPLOYEE ASSOCIATION REPORTS
O. CITY MANAGER'S REPORT
P. CITY COUNCIL CLOSING COMMENTS
Individual Council Member comments shall be limited to five minutes.

Q. FUTURE AGENDA ITEMS
To add an item to a future agenda, there must be a motion, second and a majority vote of those present at the meeting. To avoid a Brown Act violation, there shall be no discussion of 13 the merits of any such future agenda items.

R. ADJOURNMENT

CERTIFICATION
I, Patty Rodriguez, Manager of the Office of the Mayor and City Council/City Clerk of the City of Moreno Valley, California, certify that 72 hours prior to this Regular Meeting, the City Council Agenda was posted on the City’s website at: www.moval.org and in the following three public places pursuant to City of Moreno Valley Resolution No. 2007-40:

City Hall, City of Moreno Valley
14177 Frederick Street
Moreno Valley Library
25480 Alessandro Boulevard
Moreno Valley Senior/Community Center
25075 Fir Avenue
Patty Rodriguez, CMC
Manager of the Office of the Mayor and City Council/City Clerk

Date Posted: May 14, 2026

PUBLIC INSPECTION & DISTRIBUTION
The contents of the agenda packet are available for public inspection on the City’s website at www.moval.org and in the City Clerk’s office at 14177 Frederick Street during normal business hours.

Any written information related to an open session agenda item that is known by the City to have been distributed to all or a majority of the City Council less than 72 hours prior to this meeting will be made available for public inspection on the City’s website at www.moval.org and in the City Clerk’s office at 14177 Frederick Street during normal business hours.

AMERICANS WITH DISABILITIES ACT NOTICE
Upon request, this agenda will be made available in appropriate alternative formats to persons with disabilities, in compliance with the Americans with Disabilities Act of 1990 and all related federal rules and regulations. Any person with a disability who requires a modification or accommodation in order to participate in a meeting should direct such request to the ADA Coordinator, at 951.413.3350 at least 72 hours before the meeting. The 72-hour notification will enable the City to make reasonable arrangements to ensure accessibility to this meeting.
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REGULAR CITY COUNCIL MEETING
May 5, 2026
6:00 pm

CITY COUNCIL OF THE CITY OF MORENO VALLEY
MORENO VALLEY COMMUNITY SERVICES DISTRICT BOARD OF DIRECTORS*

CITY AS SUCCESSOR AGENCY FOR THE COMMUNITY REDEVELOPMENT

AGENCY OF THE CITY OF MORENO VALLEY

MORENO VALLEY HOUSING AUTHORITY BOARD OF DIRECTORS

MORENO VALLEY PUBLIC FINANCING CORPORATION BOARD OF DIRECTORS

MORENO VALLEY PUBLIC FINANCING AUTHORITY

BOARD OF LIBRARY TRUSTEES

MORENO VALLEY COMMUNITY FOUNDATION BOARD OF DIRECTORS

1. RECOGNITION: BEAUTIFY MOVAL AT HOME AWARDS PROGRAM
Mayor Cabrera presented the Recognitions to the Beautify Moval at Home Awards Program recipients: District 1, Ricardo Arroyo and Family, District 2, Carlos De La Cruz and family, our inaugural citywide winner, District 3, Glenda Zavala and family, and District 4 Ruben Castorena.

2. PROCLAMATION: BUILDING & SAFETY MONTH
Councilmember Delgado presented the Proclamation to Building Official James Verdugo and team, recognizing May 2026 as Building Safety Month.

3. PROCLAMATION: NATIONAL PUBLIC WORKS WEEK
Councilmember Barnard presented the Proclamation to Public Works Dir ector Melissa Walker and team, recognizing National Public Works Week.

4. PROCLAMATION: NATIONAL MUNICIPAL CLERK’S WEEK
Mayor Pro Tem Gonzalez presented the Proclamation to City Clerk Patty Rodriguez and team, recognizing National Municipal Clerk’s Week.

15 2
A. CALL TO ORDER
The Joint Meeting of the City Council, Community Services District, City as Successor Agency for the Community Redevelopment Agency of the City of Moreno Valley, Moreno Valley Housing Authority, Moreno Valley Public Financing Corporation, Moreno Valley Public Financing Authority, the Board of Library Trustees, and the Moreno Valley Community Foundation Board of Directors was called to order at 6:05pm by Mayor Cabrera in the Council Chamber located at 14177 Frederick Street.

Mayor Cabrera announced that the City Council receives a separate stipend for CSD meetings.

B. PLEDGE OF ALLEGIANCE
The Pledge of Allegiance was led by Mayor Pro Tem Gonzalez.

C. INVOCATION
The invocation was provided by Pastor Anthony Louis Fox from True Vine Ministries.

D. LAND ACKNOWLEDGEMENT
Mayor Cabrera provided the Land Acknowledgment statement.

E. ROLL CALL

Present:

Ed Delgado - Councilmember
Elena Baca-Santa Cruz - Councilmember
Cheylynda Barnard - Councilmember
Erlan Gonzalez - Mayor Pro Tem
Ulises Cabrera - Mayor
F. MOTIONS TO EXCUSE ABSENCES
None.

G. STAFF INTRODUCTIONS
Patty Rodriguez – Manager of the Office of the Mayor and City Council/City Clerk Sonia Gomez – Senior Deputy City Clerk
Steven Quintanilla- City Attorney
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Brian Mohan - City Manager
Angel Galache – Deputy City Manager
Felicia London– Chief Financial Officer/City Treasurer
Sean Kelleher – Assistant City Manager/Development Services Angelica Frausto-Lupo – Community Development Director
Stephanie Macias – Business and Workforce Development Division Manager Melissa Walker – Public Works Director
Jeremy Bubnick - Parks and Community Services Director
Robert Cardenas - Human Resources Director
Jesse Park - Fire Chief
Sarah Mack – Chief of Police
H. APPROVAL OF ORDER OF AGENDA
Moved by: Councilmember Delgado District 2
Seconded by: Councilmember Baca-Santa Cruz District 1
Approve Order of Agenda
Ayes (5): Mayor Cabrera, Councilmember Barnard District 4, Councilmember Baca-Santa Cruz District 1, Councilmember Delgado District 2, and Mayor Pro Tem Gonzalez District 3
RESULT: Approved (5 to 0)
I. PUBLIC COMMENTS ON MATTERS NOT ON THE AGENDA
Fred Banuelos

1. Personal update.

George Hague

1. Traffic Safety Commission cancellations.

2. MVU solar panel policy.

3. SB 707.

Louise Palomarez

1. Critical of Mayor Cabrera.
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2. Opposed to day care item from last Council meeting.

Roy Bleckert

1. SBX County Project.

2. Opposed to day care item from last Council meeting.

Bob Palomarez

1. Veterans Day Ceremony Dedication, May 2, 2026.

2. SBX project.

J. JOINT CONSENT CALENDARS
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
Approve the Joint Consent Calendars
Ayes (5): Mayor Cabrera, Councilmember Barnard District 4, Councilmember Baca-Santa Cruz District 1, Councilmember Delgado District 2, and Mayor Pro Tem Gonzalez District 3
RESULT: Approved (5 to 0)
J.1 ORDINANCES – SECOND READING/ADOPTION
J.1.1 SECOND READING AND ADOPTION OF AMENDMENT TO
CHAPTER 12.14 (POLICE AND CITY OF MORENO VALLEY
ROTATIONAL TOW SERVICE) ORDINANCE NO. 1044
J.2 MINUTES - CITY COUNCIL - CLOSED SESSION - APRIL 21, 2026 4:00 PM
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
Approval of City Council and Affiliated Boards ’ Minutes for April 21, 2026 Closed Session and April 21, 2026 Regular Meeting.

RESULT: Approved
J.3 MINUTES - CITY COUNCIL - REGULAR MEETING - APRIL 21, 2026 6:00 PM
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
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Approval of City Council and Affiliated Boards’ Minutes for April 21, 2026 Closed Session and April 21, 2026 Regular Meeting.

RESULT: Approved
J.4 MINUTES - CITY COUNCIL - STUDY SESSION - APRIL 14, 2026 6:00 PM
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
Approval of City Council and Affiliated Boards' Minutes for April 14, 2026 Study Session.

RESULT: Approved
J.5 MASTER ATTENDANCE LOG FOR CITY COUNCIL ADVISORY
BOARDS AND COMMISSIONS – MARCH 2026 (REPORT OF: CITY
CLERK) (DISTRICT: ALL DISTRICTS)
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
That the City Council:

1. Receive and File.

RESULT: Approved
J.6 CITY COUNCIL LIAISON ATTENDANCE REPORT MARCH 2026
(REPORT OF: CITY CLERK) (DISTRICT: ALL DISTRICTS)
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
That the City Council:

1. Receive and File.

RESULT: Approved
J.7 ORDINANCE ADOPTING ASSOCIATED ZONING TEXT AND ZONING

ATLAS AMENDMENTS TO IMPLEMENT THE LAND USE POLICIES AND REGULATIONS OF THE 2024 GENERAL PLAN UPDATE (REPORT OF:

COMMUNITY DEVELOPMENT) (DISTRICT: ALL DISTRICTS)
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
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That the City Council:

1. Pass and adopt Ordinance No. 1042, by title only, adopting the associated Title 9 (Planning and Zoning) Text and Zoning Atlas Amendments to implement the land use policies and regulations of the 2024 General Plan Update approved by the City Council.

RESULT: Approved
J.8 PROFESSIONAL SERVICES AGREEMENT FOR INTERIOR DESIGN

FOR THE BUSINESS AND EMPLOYMENT RESOURCE CENTER
(BERC) RELOCATION AND EXPANSION (REPORT OF: ECONOMIC
DEVELOPMENT) (DISTRICT: DISTRICT 1)
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
That the City Council:

1. Approve and award the Agreement for Professional Services for Architectural Design Services with SVA Architects, Inc., 6 Hutton Centre Drive, Suite 1150, Santa Ana, CA 92707, to provide interior design and space planning services for the Business and Employment Resource Center Relocation and Expansion (Project No. 803 0073);

2. Authorize the City Manager, or their designee, to execute t he Agreement for Professional Services for Architectural Consultant Services with SVA Architects, in the amount of $469,782, subject to the approval of the City Attorney;

3. Authorize the issuance of a purchase order to SVA Architects, Inc. in the amount of $469,782 once the agreement has been fully executed by all parties;

4. Authorize the City Manager or designee to execute subsequent amendments to the Agreement with SVA Architects Inc., including the authority to authorize associated purchase orders in accordance with the Agreement’s terms, subject to the approval of the City Attorney and within the budgetary amounts previously approved by Council as part of the adopted and/or amended budget process;

5. Approve an amendment to the Adopted FY 2025/26 & 2026/27 Capital Improvement Plan (CIP) to update the proposed project and associated budget adjustments; and
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6. Approve budget adjustments as set forth in the Fiscal Impact section of this report.

RESULT: Approved
J.9 PAYMENT REGISTER - MARCH 2026 (REPORT OF FINANCIAL AND MANAGEMENT SERVICES) (DISTRICT: ALL DISTRICTS)
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
That the City Council:

1. Receive and file Payment Register
RESULT: Approved
J.10 APPROVE THE PUBLIC FACILITIES FEE CREDIT AGREEMENT WITH D.R. HORTON LOS ANGELES HOLDING COMPANY , INC. FOR
PARKLAND IMPROVEMENTS WITHIN TRACT 38442 (REPORT OF:

PARKS AND COMMUNITY SERVICES) (DISTRICT 3)
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
That the City Council and Community Services District:

1. Approve the Public Facilities Fee Credit Agreement ("Agreement") with D. R. Horton Los Angeles Holding Company, Inc., for parkland improvements within Tract 3844 2 located north of Alessandro Blvd., east of Nason St., and south of Bay Ave.; and,

2. Authorize the City Manager and the City Manager in the Capacity as Executive Director of the Moreno Valley Community Services District (CSD) or his/her designee to execu te the Public Facilities Fee Credit Agreement on behalf of the City and CSD with D.R. Horton Los Angeles Holding Company, Inc., for parkland improvements within Tract 38442, subject to approval by the City Attorney.

RESULT: Approved
J.11 FIVE-YEAR LOOK-AHEAD PAVEMENT MANAGEMENT PROGRAM
PLAN (REPORT OF: PUBLIC WORKS) (ALL DISTRICTS)
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
That the City Council:
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1. Approve the recommended Five -Year Look -Ahead Pavement Management Program Plan for Fiscal Years 2026-27 to 2030-31; and

2. Authorize the Public Works Director/City Engineer to make any minor adjustments necessary for finalizing the Five -Year Look-Ahead Pavement Management Program Plan for Fiscal Years 2026-27 to 2030-31.

RESULT: Approved
J.12 APPROVAL OF TRACT MAP 38443 FOR PEN22-0130 (REPORT OF:

PUBLIC WORKS) (DISTRICT 3)
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
That the City Council:

1. Approve Tract Map 38443 for PEN22 -0130, a 135 lot residential subdivision by Developer D. R. Horton Los Angeles Holding Company, Inc., located on the south side of Cottonwood Avenue, approximately 700 feet east of Nason Street; and

2. Authorize the City Clerk to sign the ma p and transmit said map to the Riverside County Assessor -County Clerk -Recorder's Office for recordation.

RESULT: Approved
J.13 PEN18-0038 (CONDITIONAL USE PERMIT, ARCO AM/PM SERVICE

STATION) COOPERATIVE AGREEMENT FOR THE MORENO MASTER
DRAINAGE PLAN LINE F-2, STAGE 4, AND LINE F-15, STAGE 1, REDLANDS BOULEVARD AND HEMLOCK AVENUE (REPORT OF:

PUBLIC WORKS) (DISTRICT 2)
Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
That the City Council:

1. Approve the Cooperat ive Agreement between the Riverside County Flood Control and Water Conservation District, the City of Moreno Valley, and Starlight USA, LLC, for the Moreno Master Drainage Plan Line F -2, Stage 4, and Line F -15, Stage 1, located on Redlands Boulevard and Hemlock Avenue;

2. Authorize the City Manager to execute the Cooperative Agreement; and 22 9

3. Direct the City Clerk to forward the signed Cooperative Agreement to the District.

RESULT: Approved
J.14 ADOPT A RESOLUTION DECLARING THE CITY’S INTENTION TO

VACATE A PORTION OF ALESSANDRO BOULEVARD, WEST OF
MORENO BEACH DRIVE (REPORT OF: PUBLIC WORKS) (DISTRICT 3) Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
That the City Council:

1. Adopt Resolution Number 2026 -21, d eclaring the City’s intention to vacate a portion of Alessandro Boulevard, west of Moreno Beach Drive; and

2. Direct the City Clerk to certify said resolution and transmit a copy to the Riverside County Recorder's Office for recordation.

RESULT: Approved
K. PUBLIC HEARINGS
K.1 PUBLIC HEARING TO APPROVE THE ANNUAL ACTION PLAN FOR PROGRAM YEAR 2026/27 – HUD GRANTS (CDBG, HOME, & ESG)
(REPORT OF: FINANCIAL AND MANAGEMENT SERVICES) (ALL

DISTRICTS)
Chief Financial Officer Felicia (CFO) London provided the staff report along with reporting corrections to:

Attachment 1 and 2 of the staff report to ensure accuracy of the record.

For Attachment 1 (Annual Action Plan), she noted that on page 27, the funding amount for Project 6 (ESG Homelessness Prevention and HMIS) should be corrected to $19,733, replacing the previously stated $18,976.

Additionaly, on page 7 under the ESG grant purpose section, the program component “Homeless Prevention” was inadvertently omitted and should be added as the final bullet point. For attachment 2 (Funding Recommendation Booklet), she identified a typographical error on page 9 in the CDBG current year funding amount; the correct allocation is $1,896,326.

With the conclusion of the staff report, Mayor Cabrera called for questions of staff.
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With the conclusion of the staff report, Mayor Cabrera called for Council questions of staff.

Mayor Cabrera asked staff questions.

City Manager Brian Mohan and Chief Financial Officer Felicia London responded to Mayor's inquiries.

Ashley Brown Mills

1. Voices for Children - CASA Program.

Roy Bleckert

1. Checks and balances.

Louise Palomarez

1. Supported.

With the conclusion of public comments, Mayor Cabrera called for Council deliberation.

Councilmember Delgado and Mayor Cabrera provided comments on the item.

With no further Council deliberation, Mayor Cabrera entertained a motion.

Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Mayor Pro Tem Gonzalez District 3
That the City Council:

1. Conduct a Public Hearing for the Community Development Block Grant (CDBG), HOME Investment Partnerships Program (HOME), and Emergency Solutions Grants (ESG) programs included in the Program Year 2026/27 Annual Action Plan.

2. Approve and adopt the Program Year 2026/27 Annual Action Plan as an application to the U.S. Department of Housing and Urban Development (HUD) for funding under the federal CDBG, HOME, and ESG programs with Council amendments, if any.

3. Authorize the City Manager to approve any reprogramming of allocations between funded programs within the adopted Program Year 2026/27 Annual Action Plan in compliance with the City’s Citizen Participation Plan, if necessary.
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4. Authorize the City Manager to execu te any documents necessary to effectuate the actions taken herewith.

Ayes (5): Mayor Cabrera, Councilmember Barnard District 4, Councilmember Baca-Santa Cruz District 1, Councilmember Delgado District 2, and Mayor Pro Tem Gonzalez District 3
RESULT: Approved (5 to 0)

L. GENERAL BUSINESS
L.1 AUTHORIZATION TO FINANCE THE 2026 ELECTRIC SYSTEM
REVENUE BONDS, SERIES 2026A (REPORT OF: PUBLIC WORKS)
(ALL DISTRICTS)
Public Works Director Melissa Walker provided the staff report.

Consultants Jim Fabian, Brian Forbath, and Tom Jacobs provided additional information.

With the completion of the staff report, Mayor Cabrera called for Council questions of staff.

Mayor Pro Tem Gonzalez and Mayor Cabrera asked staff questions.

Public Works Director Melissa Walker, Consultant Jim Fabian, and Brian Forbath responded to Council's inquiries.

With no further Council questions, Mayor Cabrera called for public comments to be heard.

Roy Bleckert

1. Opposed.

Louise Palomarez

1. Opposed.

With the conclusion of public comments, Mayor Cabrera called for Council deliberation.

Councilmember Barnard asked the City Manager to provide clarification on comments made by residents.

City Manager Brian Mohan provided clarification on the item.

Mayor Cabrera provided additional information on the item. 25 12
With no additional Council deliberation, Mayor Cabrera entertained a motion.

Moved by: Councilmember Delgado District 2
Seconded by: Mayor Pro Tem Gonzalez District 3
That the City Council:

1. Ad opt Resolution Number PFA 2026 -01, A Resolution of the Moreno Valley Public Financing Authority authorizing the execution and delivery of certain documents in connection with the issuance of the Moreno Valley Public Financing Authority of not to exceed $15 0,000,000 aggregate principal amount of Electric System Revenue Bonds, Series 2026A; authorizing execution and delivery of an installment purchase agreement, bond purchase agreement, indenture of trust and escrow agreements; approving the form of Official Statement; and authorizing the execution of documents and the taking of all necessary actions relating to the financing;

2. Adopt Resolution Number 2026 -22, A Resolution of the City Council of the City of Moreno Valley approving the issuance by the Moreno Valley Public Financing Authority of not to exceed $150,000,000 aggregate principal amount of Electric System Revenue Bonds, Series 2026A; authorizing execution and delivery of an installment purchase agreement, continuing disclosure certificate, bond purc hase agreement and escrow agreements; approving the form of Official Statement; and authorizing the execution of documents and the taking of all necessary actions relating to the financing;

3. Approve the necessary budget adjustments to allow the recording of the issuance of the bonds and related debt service required for Fiscal Year (FY) 2025/26 and FY 2026/27;

4. Authorize the necessary additions and budget adjustments to the FY 2025/26 and FY 2026/27 Capital Improvement Plan (CIP) and authorize the appro priation of up to $100,000,000 for this refinancing and new project. The proposed bond funded projects were included in the Capital Improvement Program approved by the City Council on June 3, 2025;

5. Approve amended City Policy 3.11 Fund Balance and Finan cial Reserves Policy, which includes policy updates to MVU reserve funds as previously approved by Council. Waive certain debt management policy requirements related to minimum net present value threshold requirements due to removal of debt from the General Fund; and 26 13

6. Authorize the City Manager to execute amendments to agreements with CLP Engineering, LLC, CLP Operations & Maintenance, Inc., and related agreements for the Electric System Revenue Bonds, Series 2026A within the City Council -approved annual budgeted amounts, including the authority to authorize the associated purchase orders in accordance with the terms of the agreement, subject to the approval of the City Attorney.

Ayes (5): Mayor Cabrera, Councilmember Barnard District 4, Councilmember Baca-Santa Cruz District 1, Councilmember Delgado District 2, and Mayor Pro Tem Gonzalez District 3
RESULT: Approved (5 to 0)
L.2 PARKS, COMMUNITY SERVICES, AND TRAILS COMMISSION ANNUAL REPORT 2025/2026 (REPORT OF: PARKS AND COMMUNITY
SERVICES) (DISTRICT: ALL DISTRICTS)
Parks and Community Services Director Jeremy Bubnick introduced Parks, Community, and Trails Commission Chairperson Rylee Peak provided the presentation.

Mayor Pro Tem Gonzalez stepped away from the dais at 7:40 p.m. and returned at 7:49 p.m.

With the conclusion of the presentation, Mayor Cabrera called for Council questions of staff.

With no Council questions of staff, Mayor Cabrera called the Parks, Community Services, and Trails commissioners to introduce themselves.

Commissioners Barbara Baxter, Liza Arellano, and Nikita Wilson introduced themselves.

Mayor Cabrera called for public comments to be heard.

Louise Palomarez

1. Supported.

With no Council deliberation, the City Council received and filed the report.

That the City Council:

1. Receive and file the Parks, Community Services, and Trails Commission Annual Report for 2025/2026.
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L.3 SENIOR CITIZENS’ COMMISSION ANNUAL REPORT 2025/2026 (REPORT OF: PARKS AND COMMUNITY SERVICES) (DISTRICT: ALL

DISTRICTS)
Parks and Community Services Director introduced Senior Citizen's Commission Chairperson, Hazel Lambert.

With the conclusion of the presentation, Mayor Cabrera called for Council questions of staff.

With no Council questions of staff, Mayor Cabrera asked the commissioners to introduce themselves.

Commissioners Pauline Moya, and Reta Butler introduced themselves to Council.

Mayor Cabrera called for public comments to be heard.

Louise Palomarez

1. Supported.

With the conclusion of public comments, Mayor Cabrera called for Council deliberation.

Mayor Cabrera, Mayor Pro Tem Gonzalez, and Councilmember Barnard provided comments on the item.

With no further Council deliberation, Mayor Cabrera received and filed the report.

That the City Council:

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

Mayor Cabrera made a motion to consolidate General Business items L.4- L.9 for consideration and allow public comment on all the items at the same time, with a three-minute time limit.

Moved by: Mayor Cabrera
Seconded by: Councilmember Baca-Santa Cruz District 1
RESULT: Approved (5 to 0)
L.4 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
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(EAST HOSPITAL ENTRANCE) (REPORT OF: PARKS AND
COMMUNITY SERVICES) (DISTRICT 3)
L.5 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) L.6 REVIEW AND CONSIDER THE PUBLIC ARTS 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)
L.7 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)
L.8 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)
L.9 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)
Parks and Community Services Director Jeremy Bubnick introduced Community Outreach Manager Jasmin Barragan.

Community Outreach Manager presented the proposal for Avairee Aguilar.

With the conclusion of the presentation, Alvaro Alvarez presented his proposal.

Councilmember Barnard stepped away from the dais at 8:11pm and returned at 8:15 p.m.

Councilmember Baca-Santa Cruz stepped away from the dais at 8:11 p.m. and returned at 8:15 p.m.
29 16
Councilmember Barnard returned to the dais at 8:16pm.

With the conclusion of Alvaro's proposal, Vanessa Gomez presented her proposal.

With the conclusion of Vanessa's proposal, Community Outreach Manager Jasmin Barragan presented Alexandra Garcia's proposal.

Councilmember Delgado left the dais at 8:16pm.

Councilmember Delgado returned to the dais at 8:18pm.

With the conclusion of Alexandra's proposal, Community Outreach Manager Jasmin Barragan presented Andrew Lyko's proposal.

With the conclusion of Andrew Lyko's proposal, Community Outreach Manager Jasmin Barragan provided Shayne Mitchell's proposal.

With no further proposals, Mayor Cabrera called for public comments to be heard.

Roy Bleckert

1. Opposed.

Louise Palomarez

1. Supported.

Councilmember Baca-Santa Cruz and Councilmember Barnard provided comments on the item.

Mayor Pro Tem Gonzalez asked questions of staff.

Community Outreach Manager Jasmin Barragan, Parks and Community Services Director Jeremy Bubnick, and City Manager Brian Mohan responded to Mayor Pro Tem Gonzalez's inquiry.

Mayor Cabrera provided comments on the item.

Councilmember Baca-Santa Cruz and Mayor Cabrera asked staff questions.

Parks and Community Services Director Jeremy Bubnick answered Council's questions.

With no further Council comments or deliberation, Mayor Cabrera entertained a motion.
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Moved by: Councilmember Baca-Santa Cruz District 1
Seconded by: Councilmember Delgado District 2
That the City Council and Community Services District:

1. Receive and file the artist presentation;

2. Review and consider the Public Arts Commission’s approval of Ut ility 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

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.

Ayes (5): Mayor Cabrera, Councilmember Barnard District 4, Councilmember Baca-Santa Cruz District 1, Councilmember Delgado District 2, and Mayor Pro Tem Gonzalez District 3
RESULT: Approved (5 to 0)

M. REGIONAL COMMISSION/COMMITTEE/BOARD REPORTS
M.1 March Joint Powers Commission (JPC)
None.

M.2 Riverside County Habitat Conservation Agency Board of Directors (RCHCA)
None.

M.3 Riverside County Transportation Commission (RCTC)
Mayor Cabrera presented the following:

The Low Carbon Transit Operations Program (LCTOP) was developed to provide funding to transit agencies. Riverside County is estimated to receive $4,872,489 in LCTOP formula funding for the first cycle of FY 2025/26, which will be distributed directly by the State Controller’s Office to transit operators for eligible projects. Eligible projects include the reduction of greenhouse gas emissions, mobility improvements, and the prioritization of services to disadvantaged communities.

M.4 Riverside Transit Agency Board of Directors (RTA)
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None.

M.5 Western Riverside Council of Governments Executive Committee (WRCOG)
None.

M.6 Western Riverside County Regional Conservation Authority Board of Directors (RCA)
Mayor Cabrera reported the following:

At the RCA Board of Directors meeting on April 6, 2026, reports for the following were received:
 Western Riverside County MSHCP Fee Collection for December 2025 and January 2026;
 Joint Project Review Status;
 Acquisition Status;
 Monthly Investment for December 2025 and January 2026;  Consultant Reports Fiscal Year 2026 Second Quarter; and  State and Federal Legislative Update.

Staff provided an update on Fiscal Year (FY) 2025-26 Local Development Mitigation Fee (LDMF), TUMF, and proposed Budget adjustments.

Additionally, Historical Performance data charts of TUMF and LDMF by fiscal year and quarter were provided. LDMF fee schedule automatically adjusts each July 1st by the increase in CPI. Staff recommended to 1) Receive and file the Quarterly Financial Statements for the six months which ended on December 31, 2025; and 2) Approve the Fiscal Year 2025/26 Budget Adjustments.

Further, the Board received a presentation on the Western Riverside County Multiple Species Habitat Conservation Plan 2024 Annual Report.

The presentation highlighted the following:
 2024 Acquisitions, 2,409 acres acquired, and 70,502 acres acquired between inception of the MSHCP through 2024;
 2024 Habitat Enhancements and MSHCP Monitoring Program;  A Major Amendment to add Crotch’s Bumble Bee and others is in the works;
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 Master Wildfire Management Plan;
 Initiate Nexus Study;
 Initiate MSHCP Economic Benefits Analysis; and
 Expand RCA capacity.

Staff recommended the Board of Directors to receive and file the Western Riverside Multiple Species Habitat Conservation Plan 2024 Annual Report.

The Board also received a presentation on the Interstate 15 (I-15) Rainbow Canyon Wildlife Crossing Update planning project which is located on I-15 at the Riverside-San Diego County line. The roadway acts as an almost impenetrable barrier to wildlife movement, severing the Santa Ana-Palomar Mountains linkage that is essential for the long-term viability of wide-ranging species, particularly mountain lions. Recent genetic analysis of mountains lions indicates significant genetic restriction and minimal evidence of movement of individual mountain lions between the Santa Ana Mountains and Peninsular Range to the east.

The I-15 Rainbow Canyon Wildlife Crossing is vital to the success of the MSHCP reserve system by aiding connectivity and helping protect a variety of covered species. RCA staff will continue to support the effort by participating in a committee with various stakeholders to assist with the planning process. The RCA and conservation partners have been working on and will continue to acquire and protect habitat on both sides of I-15 to ensure that wildlife, and critically, mountain lions, have a connected network of protected habitats.

M.7 School District/City Joint Task Force
None.

M.8 Southern California Association of Governments (SCAG) Mayor Cabrera reported the following:

At the SCAG Regional Council meeting held on April 9, 2026, the Council approved Action Item Number 1: Nomination and Election of 2026-27 SCAG Officer Positions and Action Item Number 2: Consideration of Proposed Amendments to the SCAG Bylaws. The five proposed amendments were limited to language cleanups and clarifications. The Consent Calendar and previous minutes were approved with minimal discussion.
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The Business Report was given by Lucy Dunn. Since her report was written, the joint policy committees met and gave a pre-briefing on demographics. She noted that it would be beneficial for home builders to hear this information because with the median age rising, population growth becoming flat, smaller households, along with a housing shortage, would allow these builders to work on designing new product types.

The President’s Report from Cindy Allen focused on SCAG’s two sponsored bills, which were SB 1087 and AB 2002. SB 1087 would modernize the framework in SB 375. AB 2002 would codify the successful 2019 Regional Early Action Planning (REAP 1.0). Both provided resources for SCAG to implement the Regional Housing Needs Allocation, created tools that streamline housing element preparation, support accessory dwelling units permitting, and advancing fair housing.

Kome Ajise gave the Executive Director’s Report. He stated that SCAG earlier in the day participated in the presentation of the kickoff for Connect SoCal. He expressed his gratitude for members’ engagement and promises updates as they progress through the plan development process. The action by the RC authorizes SCAG to go out and begin data collection from each one of the 197 jurisdictions and conduct one-on-one meetings lasting through November. This will enhance the policy development process as SCAG prepares for a draft plan in 2027.The Senate Environmental Quality Committee passed SB 1087.

N. EMPLOYEE ASSOCIATION REPORTS
None.

O. CITY MANAGER'S REPORT

1. City awards.

2. City Clerk Patty Rodriguez, City Clerk Honor Roll.

3. Retirement – Human Resources Director Robert Cardenas.

P. CITY COUNCIL CLOSING COMMENTS
Councilmember Barnard

1. Thanked Robert Cardenas, HR Director.

2. San Jose, Union Trade trip.

3. Council meeting decorum.
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Councilmember Delgado

1. Thank you teachers and crossing guards.

2. Beautify Moval.

3. Student of the Year - Moreno Valley College.

4. Congratulated Economic Development staff on award.

5. Be kind.

Councilmember Baca-Santa Cruz

1. Beautify Moval.

2. Moreno Valley Hispanic Chamber of Commerce

3. Congratulated Economic Development staff on award.

4. Val Verde and Moreno Valley Unified School district scholarship recipients.

5. Thanked Human Resources Director Robert Cardenas.

Mayor Pro Tem Gonzalez

1. Beautify Moval.

2. Mexican Mobile Consulate - Cottonwood Golf Center.

3. Office of Emergency Management - Valley View High School.

4. SCAG Conference.

5. Thanked Director Robert Cardenas.

6. Happy Cinco De Mayo.

Mayor Cabrera

1. Happy Mother's Day.

2. Student of the Year - Moreno Valley College.

3. Phoenix Gateway Annual Gala.

4. Mexican Mobile Consulate - Cottonwood Golf Center.

5. Community Day of Service - Bethune Park.

Q. FUTURE AGENDA ITEMS
Mayor Cabrera called for public comments to be heard.
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Louise Palomarez

1. Censure Mayor Cabrera.

With the conclusion of public comments, Mayor Cabrera made a motion.

Moved by: Mayor Cabrera
Seconded by: Mayor Pro Tem Gonzalez District 3
Mayor Cabrera made a motion to include an item on a future agenda to discuss opportunities for the City to help foster and expand youth programs.

Ayes (5): Mayor Cabrera, Councilmember Barnard District 4, Councilmember Baca-Santa Cruz District 1, Councilmember Delgado District 2, and Mayor Pro Tem Gonzalez District 3
RESULT: Approved (5 to 0)

R. ADJOURNMENT
There being no further business to come before the City Council, Mayor Cabrera adjourned the meeting at 8:57pm.

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Submitted by:

____________________________
M. Patricia Rodriguez
Manager of the Office of the Mayor and City Council/City Clerk Secretary, Moreno Valley Community Services District
Secretary, City as Successor Agency for the Community
Redevelopment Agency of the City of Moreno Valley
Secretary, Moreno Valley Housing Authority
Secretary, Moreno Valley Public Financing Corporation
Secretary, Board of Library Trustees
Secretary, Public Financing Authority
Secretary, Moreno Valley Community Foundation

Approved by:

_____________________________
Ulises Cabrera
Mayor, City of Moreno Valley
President, Moreno Valley Community Services District
Chairperson, City as Successor Agency for the Community Redevelopment Agency of the City of Moreno Valley
Chairperson, Moreno Valley Housing Authority
Chairperson, Moreno Valley Public Financing Corporation Chairperson, Board of Library Trustees
Chairperson, Public Financing Authority
Chairperson, Moreno Valley Community Foundation

37 1

STUDY SESSION MEETING
May 12, 2026
6:00 pm

CITY COUNCIL OF THE CITY OF MORENO VALLEY
MORENO VALLEY COMMUNITY SERVICES DISTRICT BOARD OF DIRECTORS*

CITY AS SUCCESSOR AGENCY FOR THE COMMUNITY REDEVELOPMENT

AGENCY OF THE CITY OF MORENO VALLEY

MORENO VALLEY HOUSING AUTHORITY BOARD OF DIRECTORS

MORENO VALLEY PUBLIC FINANCING CORPORATION BOARD OF DIRECTORS

MORENO VALLEY PUBLIC FINANCING AUTHORITY

BOARD OF LIBRARY TRUSTEES

MORENO VALLEY COMMUNITY FOUNDATION BOARD OF DIRECTORS
A. CALL TO ORDER
The Joint Study Session of the City Council, Community Services District, City as Successor Agency for the Community Redevelopment Agency of the City of Moreno Valley, Moreno Valley Housing Authority, Moreno Valley Public Financing Corporation, Moreno Valley Public Financing Authority, the Board of Library Trustees, and the Moreno Valley Community Foundation Board of Directors was called to order at 6:00 pm by Mayor Cabrera in the Council Chamber located at 14177 Frederick Street.

Mayor Cabrera announced that the City Council receives a separate stipend for CSD meetings.

B. PLEDGE OF ALLEGIANCE
The Pledge of Allegiance was led by Councilmember Delgado.

C. ROLL CALL

Present:

Cheylynda Barnard - Councilmember
38 2
Ed Delgado- Councilmember
Elena Baca-Santa Cruz - Councilmember
Erlan Gonzalez – Mayor Pro Tem
Ulises Cabrera – Mayo
D. INTRODUCTIONS
Patty Rodriguez – Manager of the Office of the Mayor and City Council/City Clerk Steven Quintanilla- City Attorney
Sonia Gomez – Senior Deputy City Clerk
Launa Jimenez – Assistant City Manager/Administration
Felicia London – Chief Financial Officer
Sean Kelleher – Assistant City Manager/Development Services Angelica Frausto-Lupo – Community Development Director
Kyle Warsinski – Economic Development Director
Melissa Walker - Public Works Director
Jeremy Bubnick - Parks and Community Services Director
Robert Cardenas - Human Resources Director
Jesse Park - Fire Chief
Sarah Mack - Chief of Police
E. PUBLIC COMMENTS ON MATTERS ON THE AGENDA ONLY
F. BUSINESS
F.1 PROMOTING CIVILITY , DECORUM AND EFFECTIVE PUBLIC
PARTICIPATION IN PUBLIC MEETINGS (REPORT OF: CITY

ATTORNEY , CITY CLERK & CITY MANAGER)
City Attorney Steven Quintanilla and City Clerk Patty Rodriguez provided the staff report.

With the conclusion of the staff report, Mayor Cabrera called for Council questions of staff.

With no Council questions of staff, Mayor Cabrera entertained a motion. 39 3
Morgan Valle

1.Supported Council decorum.

Christopher Baca

1. Supported Council decorum.

Bob Palomarez

1. Supported Council decorum.

Fred Banuelos

1. Study Session items.

2. No acronyms on agenda.

Louise Palomarez

1. Critical of Councilmember Barnard.

2. Critical of Mayor Cabrera.

Roy Bleckert

1. Critical of Mayor Cabrera and Mayor Pro Tem Gonzalez.

Jill

1. Supported Council decorum.

With the conclusion of public comments, Mayor Cabrera called for Council comments or questions.

Councilmember Delgado provided comments on the item.

Mayor Pro Tem Gonzalez and Mayor Cabrera asked staff questions.

City Attorney Steven responded to Mayor Pro Tem Gonzalez and Mayor Cabrera's inquiries.

Councilmember Baca-Santa Cruz provided comments on the item.

City Attorney Steven Quintanilla provided additional information.

Councilmember Delgado and Mayor Cabrera provided comments on the item.

Mayor Cabrera asked questions of staff.

City Attorney Steven Quintanilla responded to Mayor Cabrera's inquiry. 40 4
Councilmember Delgado and Mayor Cabrera provided additional comments.

Councilmember Barnard asked staff questions.

City Attorney Steven Quintanilla responded to Councilmember Barnard's inquiry.

With no further Council comments or questions, Mayor Cabrera moved to adjourn the meeting.

G. ADJOURNMENT
There being no further business to come before the City Council, Mayor Cabrera adjourned the meeting at 7:07pm.

41 5
Submitted by:

Approved by:

42 Report to City Council

ID: 26-0162 Page 1

TO: Mayor and City Council

FROM: Patty Rodriguez, Manager of the Office of the Mayor and City Council/City Clerk

AGENDA DATE: May 19, 2026

TITLE: COUNCIL DISCRETIONARY EXPENDITURE REPORTS
FOR FISCAL YEAR 2025 -2026, JULY 1, 2025 –
FEBRUARY 28 , 202 6 (REPORT OF: CITY CLERK)
(DISTRICT: ALL DISTRICTS)

TITLE SUMMARY: Council Discretionary Expenditure Reports – February 2026

DISTRICT: All Districts

Recommendation(s)

That the City Council:

1. Receive and file the Fiscal Year 2025/2026 Council Discretionary Expenditure Report for July 1, 2025 – February 28, 2026.

SUMMARY

This staff report is prepared at the request of the City Council to provide transparency with respect to the expenditure of City funds from City Council Discretionary Expenditure Accounts. These reports are for each Council Member’s year -to-date expenditures for Fiscal Year 2025/2026, for July 1, 2025, through February 28, 2026. Each Council District receives an annual budget allocation of $3,000 and the Mayor receives an annual budget allocation of $6,000.

With the adoption of the current fiscal year budget and pursuant to Resolution No. 2025- 27, unused monies from Fiscal Year 2024/2025 has been carried over to the current 43 ID: 26-0162 Page 2
Fiscal Year as approved by the City Manager. The Discretionary Expenditure Reports reflects the amended budget amount.

The Expenditure reports are included routinely in the City Council agenda as an additional means of distributing reports on activities to the Council and public. The reports are to be posted to the City’s website following Council approval. The monthly reports provide unaudited information and reconciled to the City’s general ledger. Following the end of the Fis cal Year, the financial information shall be reviewed as a part of the City’s independent financial audit.

FISCAL IMPACT

No Fiscal Impact as all funds are budgeted within the Fiscal Year 2025/2026 Operating Budget.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Jasmin Rivera M. Patricia Rodriguez
Executive Assistant to the Mayor and Council Office Manager of the Office of the Mayor and City Council/City Clerk

CITY COUNCIL GOALS

None.

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

44 ID: 26-0162 Page 3
Report Approval Details
Document
Title:

STAFFREPORT_CC_COUNCILDISCRETIONARYREPORT_Apr21.202

6.docx
Attachment
s:
- City Council's Discretionary Expenditures Report_Apr.21.pdf Final
Approval
Date:

Apr 30, 2026

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

Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
45 MAYOR ULISES CABRERA
Fiscal Year 2025/2026 Council Discretionary Expenditures Accounts: 1010-10-01-10015-620130 Mayor Discretionary
1010-10-01-10015-620131 Mayor Discretionary - Carryover July 1, 2025 – February 28, 2026
Date Amount Description
7/17/2025 100.00$ Moreno Valley Unified School District | Midland Elementary - PBIS SOAR Store (Positive Behavioral Interventions) and (Sports Safe, Organized, and Respect) 7/23/2025 100.00$ The Family Is All That Matters Group Inc. 7/23/2025 300.00$ Moreno Valley Sports Club 7/23/2025 250.00$ Moreno Valley Unified School District | Landmark Middle School - Future Health Professional Program
7/30/2025 500.00$ TODEC Legal Center (Training Occupational Development Educating Communities)
8/6/2025 250.00$ Riverside County of Education-School Supplies For Educate & Elevate Giveaway 9/24/2025 1,000.00$ Inland Empire Community Foundation CIELO Funds 9/30/2025 100.00$ National Alliance of Free Women & Men| Breast Cancer Awareness Event No expenditures to report for October 2025
11/30/2025 65.87$ Inland Empire Economic Partnership | 13th Annual Turning Red Tape into Red Carpet 11/30/2025 30.00$ Muslim Family Foundation | 6th Annual Friendship Dinner 11/30/2025 25.00$ City of Moreno Valley | Fun Color Run 12/31/2025 262.51$ Power Speaks Louder | Christmas Toy Drive-Thru 1/13/2026 500.00$ Loving Me 1st | 10th Annual Girls Conference Event 1/13/2026 250.00$ Robert Garcia Boxing Academy | Youth & Veterans Charity Fundraiser 2/11/2026 1,000.00$ Entrepreneurs Creating Opportunities | Christmas Toy Drive 6,000.00$ FY25/26 Adopted Budget Amount 1,234.00$ Carryover Budget Amount
7,234.00$ FY25/26 Amended Budget
(4,733.38)$ Total Discretionary Expenditures 2,500.62$ Budget Amount Remaining
Source: Unaudited financial data from the City's accounting records.

Updated as of: 4/8/2026
46 MAYOR PRO TEM ERLAN GONZALEZ
Fiscal Year 2025/2026 Council Discretionary Expenditures Accounts: 1010-10-01-10013-620113 District 3 Discretionary 1010-10-01-10013-620118 District 3 Discretionary - Carryover July 1, 2025 – February 28, 2026
Date Amount Description
7/17/2025 150.00$ St. Christopher Catholic Church | Jubilee of Thanksgiving Event No expenditures to report for August 2025
9/30/2025 85.00$ District 3 Community Engagement Event | Consumable No expenditures to report for October 2025
11/30/2025 25.00$ City of Moreno Valley | Fun Color Run No expenditures to report for December 2025
1/8/2026 32.50$ District 3 & 4 Community Engagement Event | Room Reservation No expenditures to report for February 2026
3,000.00$ FY25/26 Adopted Budget Amount 1,500.00$ Carryover Budget Amount
4,500.00$ FY25/26 Amended Budget
(292.50)$ Total Discretionary Expenditures 4,207.50$ Budget Amount Remaining
Source: Unaudited financial data from the City's accounting records.

Updated as of: 4/8/2026
47 COUNCIL DISTRICT 1 ELENA BACA-SANTA CRUZ
Fiscal Year 2025/2026 Council Discretionary Expenditures Accounts: 1010-10-01-10011-620111 District 1 Discretionary 1010-10-01-10011-620116 District 1 Discretionary - Carryover July 1, 2025 – February 28, 2026
Date Amount Description
7/4/2025 32.00$ Fourth of July Funfest - Event Booth No expenditures to report for August 2025
9/30/2025 414.54$ National Alliance of Free Women & Men| Breast Cancer Awareness Event No expenditures to report for October 2025
11/30/2025 25.00$ City of Moreno Valley | Fun Color Run 11/30/2025 65.87$ Inland Empire Economic Partnership | 13th Annual Turning Red Tape into Red Carpet 12/31/2025 100.00$ City of Moreno Valley | Senior Center Secret Santa No expenditures to report for January 2026
2/28/2026 65.00$ League of California Cities | Cal Cities Riverside County Division Meeting 3,000.00$ FY25/26 Adopted Budget Amount 995.00$ Carryover Budget Amount
3,995.00$ FY25/26 Amended Budget
(702.41)$ Total Discretionary Expenditures 3,292.59$ Budget Amount Remaining
Source: Unaudited financial data from the City's accounting records.

Updated as of: 4/8/2026
48 COUNCIL DISTRICT 2 EDWARD A. DELGADO
Fiscal Year 2025/2026 Council Discretionary Expenditures Accounts: 1010-10-01-10012-620112 District 2 Discretionary 1010-10-01-10012-620117 District 2 Discretionary - Carryover July 1, 2025 – February 28, 2026
Date Amount Description
7/23/2025 25.00$ Moreno Valley Chamber of Commerce | Wake Up 8/13/2025 800.00$ Riverside Area Squad Club | Honoring Fallen Brothers Tournament 8/26/2025 35.00$ League of Cal Cities | Riverside Division Meeting 9/30/2025 200.00$ National Alliance of Free Women & Men| Breast Cancer Awareness Event 10/31/2025 90.00$ County of Riverside Trauma Intervention Programs | Heroes with Hearts 2025 Event 10/31/2025 500.00$ Canyon Springs High School | Wrestling Program 11/21/2025 30.00$ Moreno Valley Chamber of Commerce | Wake Up 11/30/2025 500.00$ Moreno Valley Hispanic Chamber of Commerce | 10th Annual Posada Navideña 12/31/2025 88.89$ City of Moreno Valley | Senior Center Secret Santa 1/7/2026 500.00$ Calvary Chapel of Moreno Valley | Baseball & Softball Team 2/28/2026 65.00$ Riverside County Superintendent of Schools | State of Education Address 2026 3,000.00$ FY25/26 Adopted Budget Amount

45.00$ Carryover Budget Amount
3,045.00$ FY25/26 Amended Budget
(2,833.89)$ Total Discretionary Expenditures 211.11$ Budget Amount Remaining
Source: Unaudited financial data from the City's accounting records.

Updated as of: 4/8/2026
49 COUNCIL DISTRICT 4 CHEYLYNDA BARNARD
Fiscal Year 2025/2026 Council Discretionary Expenditures Accounts: 1010-10-01-10014-620114 District 4 Discretionary 1010-10-01-10014-620119 District 4 Discretionary - Carryover July 1, 2025 – February 28, 2026
Date Amount Description
7/4/2025 437.68$ Fourth of July - Vehicle/Float Rental 7/4/2025 37.34$ Fourth of July - Float/Vehicle Expense 7/17/2025 500.00$ Moreno Valley Unified School District | Midland Elementary - PBIS SOAR Store (Positive Behavioral Interventions) and (Sports Safe, Organized, and Respect) 8/26/2025 28.73$ District 4 Community Engagement Event | Consumable No expenditures to report for September 2025
No expenditures to report for October 2025
11/30/2025 515.72$ Power Speaks Louder | Annual Turkey & Food Drive 11/30/2025 522.24$ Garvey/Allen Visual & Performing Arts Academy for STEM 11/30/2025 500.00$ CrossWord Christian Church | Turkey Drive 12/31/2025 500.00$ City of Moreno Valley | Senior Center Secret Santa 1/16/2026 32.50$ District 3 & 4 Community Engagement Event | Room Reservation No expenditures to report for February 2026
3,000.00$ FY25/26 Adopted Budget Amount 3,654.00$ Carryover Budget Amount
6,654.00$ FY25/26 Amended Budget
(3,074.21)$ Total Discretionary Expenditures 3,579.79$ Budget Amount Remaining
Source: Unaudited financial data from the City's accounting records.

Updated as of: 4/8/2026
50 Report to City Council

ID: 26-0215 Page 1

TO: Mayor and City Council

FROM: Patty Rodriguez, Manager of the Office of the Mayor and City Council/City Clerk

AGENDA DATE: May 19, 2026

TITLE: COUNCIL DISCRETIONARY EXPENDITURE REPORTS
FOR FISCAL YEAR 2025-2026, JULY 1, 2025 – MARCH
31, 2026 (REPORT OF: CITY CLERK) (DISTRICT: ALL

DISTRICTS)

TITLE SUMMARY: Council Discretionary Expenditure Reports – March 2026

DISTRICT: All Districts

Recommendation(s)

That the City Council:

1. Receive and file the Fiscal Year 2025/2026 Council Discretionary Expenditure Report for July 1, 2025 – March 31, 2026.

SUMMARY

This staff report is prepared at the request of the City Council to provide transparency with respect to the expenditure of City funds from City Council Discretionary Expenditure Accounts. These reports are for each Council Member’s year -to-date expenditures for Fiscal Year 2025/2026, for July 1, 2025, through March 31, 2026. Each Council District receives an annual budget allocation of $3,000 and the Mayor receives an annual budget allocation of $6,000.

With the adoption of the current fiscal year budget and pursuant to Resolution No. 2025- 27, unused monies from Fiscal Year 2024/2025 has been carried over to the current 51 ID: 26-0215 Page 2
Fiscal Year as approved by the City Manager. The Discretionary Expenditure Reports reflects the amended budget amount.

The Expenditure reports are included routinely in the City Council agenda as an additional means of distributing reports on activities to the Council and public. The reports are to be posted to the City’s website following Council approval. The monthly rep orts provide unaudited information and reconciled to the City’s general ledger. Following the end of the Fiscal Year, the financial information shall be reviewed as a part of the City’s independent financial audit.

FISCAL IMPACT

No Fiscal Impact as all funds are budgeted within the Fiscal Year 2025/2026 Operating Budget.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Jasmin Rivera Patty Rodriguez, CMC
Executive Assistant to the Mayor and Council Office Manager of the Office of the Mayor and City Council/City Clerk

CITY COUNCIL GOALS

None.

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

52 ID: 26-0215 Page 3
Report Approval Details
Document
Title:

STAFFREPORT_CC_COUNCILDISCRETIONARYREPORT_May19.20

26.docx
Attachment
s:
- Discretionary_Expenditures_Report_May.19.pdf
Final
Approval
Date:

May 13, 2026

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

Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
53 MAYOR ULISES CABRERA
Fiscal Year 2025/2026 Council Discretionary Expenditures Accounts: 1010-10-01-10015-620130 Mayor Discretionary
1010-10-01-10015-620131 Mayor Discretionary - Carryover July 1, 2025 – March 31, 2026
Date Amount Description
7/17/2025 100.00$ Moreno Valley Unified School District | Midland Elementary - PBIS SOAR Store (Positive Behavioral Interventions) and (Sports Safe, Organized, and Respect) 7/23/2025 100.00$ The Family Is All That Matters Group Inc. 7/23/2025 300.00$ Moreno Valley Sports Club 7/23/2025 250.00$ Moreno Valley Unified School District | Landmark Middle School - Future Health Professional Program
7/30/2025 500.00$ TODEC Legal Center (Training Occupational Development Educating Communities)
8/6/2025 250.00$ Riverside County of Education-School Supplies For Educate & Elevate Giveaway 9/24/2025 1,000.00$ Inland Empire Community Foundation CIELO Funds 9/30/2025 100.00$ National Alliance of Free Women & Men| Breast Cancer Awareness Event No expenditures to report for October 2025
11/30/2025 65.87$ Inland Empire Economic Partnership | 13th Annual Turning Red Tape into Red Carpet 11/30/2025 30.00$ Muslim Family Foundation | 6th Annual Friendship Dinner 11/30/2025 25.00$ City of Moreno Valley | Fun Color Run 12/31/2025 262.51$ Power Speaks Louder | Christmas Toy Drive-Thru 1/13/2026 500.00$ Loving Me 1st | 10th Annual Girls Conference Event 1/13/2026 250.00$ Robert Garcia Boxing Academy | Youth & Veterans Charity Fundraiser 2/11/2026 1,000.00$ Entrepreneurs Creating Opportunities | Christmas Toy Drive 3/18/2026 750.00$ Entrepreneurs Creating Opportunities | Scholarship for Students 3/31/2026 100.00$ Inland Equity Community Land Trust 3/31/2026 133.68$ Butterfield Elementary Academy | Kids Fun Day Event 6,000.00$ FY25/26 Adopted Budget Amount 1,234.00$ Carryover Budget Amount
7,234.00$ FY25/26 Amended Budget
(5,483.38)$ Total Discretionary Expenditures 1,750.62$ Budget Amount Remaining
Source: Unaudited financial data from the City's accounting records.

Updated as of: 4/23/2026
54 MAYOR PRO TEM ERLAN GONZALEZ
Fiscal Year 2025/2026 Council Discretionary Expenditures Accounts: 1010-10-01-10013-620113 District 3 Discretionary 1010-10-01-10013-620118 District 3 Discretionary - Carryover July 1, 2025 – March 31, 2026
Date Amount Description
7/17/2025 150.00$ St. Christopher Catholic Church | Jubilee of Thanksgiving Event No expenditures to report for August 2025
9/30/2025 85.00$ District 3 Community Engagement Event | Consumable No expenditures to report for October 2025
11/30/2025 25.00$ City of Moreno Valley | Fun Color Run No expenditures to report for December 2025
1/8/2026 32.50$ District 3 & 4 Community Engagement Event | Room Reservation No expenditures to report for February 2026
3/17/2026 30.00$ Moreno Valley Chamber of Commerce | Wake Up 3,000.00$ FY25/26 Adopted Budget Amount 1,500.00$ Carryover Budget Amount
4,500.00$ FY25/26 Amended Budget
(322.50)$ Total Discretionary Expenditures 4,177.50$ Budget Amount Remaining
Source: Unaudited financial data from the City's accounting records.

Updated as of: 4/23/2026
55 COUNCIL DISTRICT 1 ELENA BACA-SANTA CRUZ
Fiscal Year 2025/2026 Council Discretionary Expenditures Accounts: 1010-10-01-10011-620111 District 1 Discretionary 1010-10-01-10011-620116 District 1 Discretionary - Carryover July 1, 2025 – March 31, 2026
Date Amount Description
7/4/2025 32.00$ Fourth of July Funfest - Event Booth No expenditures to report for August 2025
9/30/2025 414.54$ National Alliance of Free Women & Men| Breast Cancer Awareness Event No expenditures to report for October 2025
11/30/2025 25.00$ City of Moreno Valley | Fun Color Run 11/30/2025 65.87$ Inland Empire Economic Partnership | 13th Annual Turning Red Tape into Red Carpet 12/31/2025 100.00$ City of Moreno Valley | Senior Center Secret Santa No expenditures to report for January 2026
2/28/2026 65.00$ League of California Cities | Cal Cities Riverside County Division Meeting 3/17/2026 30.00$ Moreno Valley Chamber of Commerce | Wake Up MoVal 3/17/2026 500.00$ Canyon Springs Little League 3,000.00$ FY25/26 Adopted Budget Amount 995.00$ Carryover Budget Amount
3,995.00$ FY25/26 Amended Budget
(1,232.41)$ Total Discretionary Expenditures 2,762.59$ Budget Amount Remaining
Source: Unaudited financial data from the City's accounting records.

Updated as of: 4/23/2026
56 COUNCIL DISTRICT 2 EDWARD A. DELGADO
Fiscal Year 2025/2026 Council Discretionary Expenditures Accounts: 1010-10-01-10012-620112 District 2 Discretionary 1010-10-01-10012-620117 District 2 Discretionary - Carryover July 1, 2025 – March 31, 2026
Date Amount Description7/23/2025 $
8/13/2025 $
8/26/2025 $
9/30/2025 $
10/31/2025 $
10/31/2025 $
11/30/2025 $
12/31/2025 $
1/7/2026 $
2/28/2026 $
3/31/2026 $

25.00 Moreno Valley Chamber of Commerce | Wake Up
800.00 Riverside Area Squad Club | Honoring Fallen Brothers Tournament

35.00 League of Cal Cities | Riverside Division Meeting 200.00 National Alliance of Free Women & Men| Breast Cancer Awareness Event

90.00 County of Riverside Trauma Intervention Programs | Heroes with Hearts 2025 Event 500.00 Canyon Springs High School | W restling Program
500.00 Moreno Valley Hispanic Chamber of Commerce | 10th Annual Posada Navideña

88.89 City of Moreno Valley | Senior Center Secret Santa 500.00 Calvary Chapel of Moreno Valley | Baseball & Softball Team

65.00 Riverside County Superintendent of S chools | State of Education Address 2026 228.80 Moreno Valley Elks Lodge | Golf Tournament
3,000.
00$ FY25/26 Adopted Budget Amount

45.00$ Carryover Budget Amount
3,045.00$ FY25/26 Amended Budget
$ (3,007.69) Total Discretionary Expenditures $ 37.31 Budget Amount Remaining
Source: Unaudited financial data from the City's accounting records.

Updated as of: 4/23/2026
57 COUNCIL DISTRICT 4 CHEYLYNDA BARNARD
Fiscal Year 2025/2026 Council Discretionary Expenditures Accounts: 1010-10-01-10014-620114 District 4 Discretionary 1010-10-01-10014-620119 District 4 Discretionary - Carryover July 1, 2025 – March 31, 2026
Date Amount Description
7/4/2025 437.68$ Fourth of July - Vehicle/Float Rental 7/4/2025 37.34$ Fourth of July - Float/Vehicle Expense 7/17/2025 500.00$ Moreno Valley Unified School District | Midland Elementary - PBIS SOAR Store (Positive Behavioral Interventions) and (Sports Safe, Organized, and Respect) 8/26/2025 28.73$ District 4 Community Engagement Event | Consumable No expenditures to report for September 2025
No expenditures to report for October 2025
11/30/2025 515.72$ Power Speaks Louder | Annual Turkey & Food Drive 11/30/2025 522.24$ Garvey/Allen Visual & Performing Arts Academy for STEM 11/30/2025 500.00$ CrossWord Christian Church | Turkey Drive 12/31/2025 500.00$ City of Moreno Valley | Senior Center Secret Santa 1/16/2026 32.50$ District 3 & 4 Community Engagement Event | Room Reservation No expenditures to report for February 2026
No expenditures to report for March 2026
3,000.00$ FY25/26 Adopted Budget Amount 3,654.00$ Carryover Budget Amount
6,654.00$ FY25/26 Amended Budget
(3,074.21)$ Total Discretionary Expenditures 3,579.79$ Budget Amount Remaining
Source: Unaudited financial data from the City's accounting records.

Updated as of: 4/23/2026
58 Report to City Council

ID: 26-0163 Page 1
_
TO: Mayor and City Council

FROM: Patty Rodriguez, Manager of the Office of the Mayor and City Council/City Clerk

AGENDA DATE: May 19, 2026

TITLE: COUNCIL TRAINING & TRAVEL EXPENDITURE
REPORTS FOR FISCAL YEAR 2025-2026 (REPORT OF:

CITY CLERK) (DISTRICT: ALL DISTRICTS)

TITLE SUMMARY: Council Training & Travel Expenditure Reports – February 2026

DISTRICT: All Districts

Recommendation(s)

That the City Council:

1. Receive and file Fiscal Year 2025/2026 City Council Training & Travel Expenditure Report for the month of February 2026.

SUMMARY

This staff report is prepared at the request of the City Council to provide transparency with respect to the expenditure of City funds used for City Council Training and Travel.

Each Council District receives an annual budget allocation of $4,000 and the Mayor receives an annual budget allocation of $12,000.

On September 5, 2023, the City Council approved the revision of policy #3.06; to incorporate additional transparency requirements for the reporting of the travel and training forms.

The training and travel forms provide unaudited information and are reconciled to the 59 ID: 26-0163 Page 2
City’s general ledger. Following the end of the Fiscal Year, the financial information shall be reviewed as part of the City’s independent financial audit.

July 2025: Travel Activity – Mayor Pro Tem Baca-Santa Cruz August 2025: No City Council training or travel expenditure activity to report September 2025: No City Council training or travel expenditure activity to report October 2025: Travel Activity – Mayor Cabrera, Councilmember Delgado, and Councilmember Gonzalez
November 2025: No City Council training or travel expenditure activity to report December 2025: Travel Activity – Mayor Cabrera
January 2026: Travel Activity – Mayor Cabrera and Councilmember Delgado February 2026: Travel Activity – Mayor Cabrera

FISCAL IMPACT

No Fiscal Impact as all funds are budgeted within Fiscal Year 2025/2026 annual budget.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Jasmin Rivera Patty Rodriguez, CMC
Executive Assistant to the Mayor and Council Office Manager of the Office of the Mayor & City Council/City Clerk

CITY COUNCIL GOALS

None

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

60 ID: 26-0163 Page 3
Report Approval Details
Document
Title:

STAFFREPORT_CC_COUNCILTRAVELEXPENDITUREREPORT_May

19.2026_.docx
Attachmen
ts:
- Travel Authorization Form_Mayor Cabrera_Redacted.pdf
Final
Approval
Date:

May 13, 2026

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

Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
61 ��=!!.� Travel Authorization & Expense Reporting Form Instructions: Prior 19, � travel, complete Part I of this form to have travel and anticipated expenses approved. Submit a copy of this approved form with each payment expense submitted. Upon retuminq from travel, complete Part II of this form to confirm total expenses including any approved adjustments.

Submit form to Accounts Payable within 15 days of the travel end date. �YI u11 thg m01t u9.-to-dam, Tm_vel Form located on the City's Intranet !
Part I - Travel Authorization
l X
Name: Ulises Cabrera
Job Title: Mayor
Division: City Council
GL Org Set(s) % Solit
tt'U.f:.

Si9DiliLl!lt
X
Immediate Su(!ervisor Signature
Purpose of Trip: League of Cal Cities - Board of Directors Meeting Destination: Berkeley, CA Out of State?
�
Enter below the departing date and time then the return date and time. Per diem travel days will automatically be calculated.
·eeparture Example:
1010-10-01-10015 100% Split Total Equals Date & Time: 112118 7:30 AM Return
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League of California Cities
Board of Directors Meeting
February 19-20, 2026
Berkeley, CA

1. Roll Call/Call to Order (1:15 p.m.)
2 . S c h e d u l e o f E v e n t s I N F O R M A T I O N ( 2 )

3. Future Board Meeting Dates INFORMATION (3)

4. Welcome and Farewell to Board Members INFORMATION (4)

5. President’s Remarks ~ Cal Cities President Gabe Quinto INFORMATION

6. CEO/Executive Director’s Report
~ Cal Cities CEO/Executive Director Carolyn Coleman INFORMATION

7. Non-Legislative Consent Calendar ACTION (5)

ADVOCACY

8. 2026 Strategic Advocacy Priorities
~ Jason Rhine, Cal Cities Senior Director of Legislative Affairs

a. Protect and enhance local revenues and expand economic development tools. INFORMATION (39)
~ Ben Triffo, Cal Cities Legislative Advocate

b. Strengthen partnerships with the state to improve public safety. INFORMATION (41) ~ Jolena Vorhees, Cal Cities Legislative Advocate

c. Secure investments to prevent and reduce homelessness and increase the supply of affordable housing. INFORMATION (43) ~ Caroline Grinder, Cal Cities Legislative Advocate
~ Brady Guertin, Cal Cities Legislative Advocate

d. Strengthen climate change resiliency and disaster
p r e p a r e d n e s s . I N F O R M A T I O N ( 4 8 ) ~Melissa Sparks Kranz, Cal Cities Legislative Advocate

9. Policy Committee Legislative Agenda
~ Cal Cities Advocacy Team

a. Consider Approval of Legislative Consent Calendar ACTION (54) ~ See Legislative Agenda Summary
b. Consider Approval of Other Legislative Items

1. Revenue and Taxation Pg. 61

10. Summary of Existing Cal Cities Policies and Guiding Principles ACTION (133) ~ Jason Rhine

Special Guest:

The Honorable Jesse Arreguín
California State Senator
66 67
League of California Cities – 2025-2026 Board of Directors (As of January 2026)
Officers
Gabe Quinto Mayor, El Cerrito President
Teresa Acosta Council Member, Carlsbad First Vice President David Cohen Council Member, San Jose Second Vice President Lynne Kennedy Mayor Pro Tem, Rancho Cucamonga Immediate Past President Carolyn M. Coleman Executive Director / CEO
Directors
Ashleigh Aitken Mayor, Anaheim Large City
Paul Akinjo Mayor, Lathrop Central Valley Division
Walter Allen III Council Member, Covina At-Large
Jan Arbuckle Council Member, Grass Valley At-Large
Dan Arriola Mayor, Tracy At-Large
Karen Bass Mayor, Los Angeles Large City
Scott Bauer Council Member, Eureka Redwood Empire Division LaTanya Bellow City Manager, Emeryville Personnel & Employee Relations Dept.

James Bozajian Mayor, Calabasas Los Angeles County Division Ulises Cabrera Mayor, Moreno Valley Latino Caucus
Domingo Candelas Council Member, San Jose Large City Representative Eric Danly City Attorney, Petaluma City Attorneys Department Bea Dieringer Mayor, Rolling Hills Women’s Caucus
Alice Dowdin Calvillo Council Member, Auburn Sacramento Valley Division Jerry Dyer Mayor, Fresno Large City
Marilyn Ezzy Ashcraft Mayor, Alameda East Bay Division Todd Gloria Mayor, San Diego Large City
Karen Goh Mayor, Bakersfield Large City
Renee Golder Council Member, Santa Cruz Monterey Bay Division Alexander Hamilton Fire Chief, Oxnard Fire Chiefs Department Alma Hernandez Mayor, Suisun City North Bay Division
Randi Johl Legislative Director/City Clerk, Temecula City Clerks Department Ellen Kamei Mayor, Mountain View Peninsula Division
Lisa Kaplan Council Member, Sacramento At-Large
Jim Lewis City Manager, Atascadero At-Large
César Macias Manager, State and Federal Affairs, Oakland Large City Representative Jeffrey Maloney Mayor, Alhambra API Caucus
Caity Maple Council Member, Sacramento Large City Representative Ray Marquez Vice Mayor, Chino Hills At-Large
Yvonne Martinez Beltran Council Member, Morgan Hill At-Large Rudy Mendoza Mayor, Woodlake At-Large
John Minto Mayor, Santee San Diego County Division
Eric Nelson Planning Commissioner, Dana Point Planning and Community Dev. Department Ida Obeso-Martinez Mayor Pro Tem, Imperial Imperial County Division Ian Oglesby Mayor, Seaside African American Caucus
Daniel Parra Council Member, Fowler South San Joaquin Valley Division Jaime Patino Vice Mayor, Union City At-Large
Karen Pinkos City Manager, El Cerrito City Managers Department Randall Putz Council Member, Big Bear Lake Desert Mountain Division Roberta Raper Dir. of Finance & Technology, West Sacramento Fiscal Officers Department Rex Richardson Mayor, Long Beach Large City
David Sander Council Member, Rancho Cordova NLC
Kristine Scott Council Member, Rancho Cucamonga Inland Empire Division Cindy Silva Council Member, Walnut Creek At-Large
Jeff Smith Police Chief, Pismo Beach Police Chiefs Department Scott Smith Public Works Director, Fountain Valley Public Works Department Erica A. Stewart Mayor, San Luis Obispo Channel Counties Division Ali Sajjad Taj Council Member, Artesia At-Large
John Taylor Council Member, San Juan Capistrano Orange County Division Kuldip Thusu Council Member, Dinuba Mayors and Council Members Department Michael Vargas Mayor, Perris Riverside County Division
Tyller Williamson Mayor, Monterey LGBTQ Caucus
-1-68
Agenda Item 2
1400 K Street, Suite 400, Sacramento, CA 95814 • 916.658.8200 • calcities.org Board of Directors
Schedule of Events
February 19-20, 2026
Berkeley, CA
Hotel and Meeting Location:

Residence Inn, 2121 Center St., Berkeley, CA 94704
Thursday, February 19
11:30 a.m.-1:00 p.m. off-site
1:15 – 5:00 p.m.

Board Luncheon
Revival Kitchen, 2102 Shattuck Ave.,
Berkeley (3minute walk from hotel)
Board of Directors Meeting Berkeley Ballroom
5:30 p.m. Shuttle to Board Reception and Dinner
(departure times: 5:30 p.m./ 5:50 p.m./ 6:30 p.m.)
6:00 – 8:30 p.m. Board Reception and Dinner off-site
Berkeley Country Club
7901 Cutting Blvd., El Cerrito, CA
Friday, February 20
7:30 – 8:15 a.m. Networking Breakfast Berkeley Ballroom 8:30 a.m. – 12:30 p.m. Board of Directors Meeting Berkeley Ballroom 12:30 p.m. Board Meeting Adjourns
-2-69
70 71
72 73
74 75
76 Report to City Council

ID: 26-0214 Page 1

TO: Mayor and City Council

FROM: Patty Rodriguez, Manager of the Office of the Mayor and City Council/City Clerk

AGENDA DATE: May 19, 2026

TITLE: COUNCIL TRAINING & TRAVEL EXPENDITURE
REPORTS FOR FISCAL YEAR 2025-2026 (REPORT OF:

CITY CLERK) (DISTRICT: ALL DISTRICTS)

TITLE SUMMARY: Council Training & Travel Expenditure Reports – March 2026

DISTRICT: All Districts

Recommendation(s)

That the City Council:

1. Receive and file Fiscal Year 2025/2026 City Council Training & Travel Expenditure Report for the month of March 2026.

SUMMARY

This staff report is prepared at the request of the City Council to provide transparency with respect to the expenditure of City funds used for City Council Training and Travel.

Each Council District receives an annual budget allocation of $4,000 and the Mayor receives an annual budget allocation of $12,000.

On September 5, 2023, the City Council approved the revision of policy #3.06; to incorporate additional transparency requirements for the reporting of the travel and training forms.

The training and travel forms provide unaudited information and are reconciled to the City’s general ledger. Following the end of the Fiscal Year, the financial information shall 77 ID: 26-0214 Page 2
be reviewed as part of the City’s independent financial audit.

FISCAL IMPACT

No Fiscal Impact as all funds are budgeted within Fiscal Year 2025/2026 annual budget.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Jasmin Rivera Patty Rodriguez, CMC
Executive Assistant to the Mayor and Council Office Manager of the Office of the Mayor & City Council/City Clerk

CITY COUNCIL GOALS

None

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

78 ID: 26-0214 Page 3
Report Approval Details
Document
Title:

STAFFREPORT_CC_COUNCILTRAVELEXPENDITUREREPORT_May

19.2026.docx
Attachmen
ts:

Final
Approval
Date:

May 13, 2026

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

Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
79 Report to City Council

ID: 26-0204 Page 1

TO: Mayor and City Council

FROM: Felicia London, Chief Financial Officer/City Treasurer

AGENDA DATE: May 19, 2026

TITLE: ANNUAL REVIEW OF THE DEBT MANAGEMENT
POLICY (REPORT OF: FINANCIAL AND
MANAGEMENT SERVICES) ( DISTRICT: NOT

APPLICABLE)

TITLE SUMMARY: Annual Review of the Debt Management Policy

DISTRICT: Not Applicable

Recommendation(s)

That the City Council:

1. Review and approve the Debt Management Policy.

SUMMARY

This report recommends the review and approval of the Debt Management Policy. On September 12, 2016 Governor Brown signed Senate Bill 1029, Hertzberg, amending the Government Code to require issuers of public debt in California to have an adopted debt management policy. The City of Moreno Valley recognizes that maintaining a Debt Policy is a best practice and first adopted one in 2006. Each year, staff reviews the policy against industry standards. As part of this annual review, only minor revisions are being proposed.

DISCUSSION

Debt management policies are considered a “best practice” by many profess ional municipal finance organizations, including the Government Finance Officers Association, the California Society of Municipal Finance Officers , and the Association of Public 80 ID: 26-0204 Page 2
Treasurers of the United States and Canada. Issuers of public debt within Cali fornia are now required to have an adopted Debt Policy to participate in the financial markets.

The Debt Management Policy was originally developed in 2006 and revised in 2014, 2017, 2019, 2020, 2021, 2023, and 2024. In recent years, additional requirements have been placed on the issuers of municipal securities based on the input from oversight agencies such as the Securities & Exchange Commission (SEC), the Municipal Securities Rulemaking Board (MSRB), the California Debt and Investment Advisory Commissi on, rating agencies, and investors.

Only minor revisions are being recommended to the current policy at this time. If any significant changes occur in the regulatory environment, the policy will be updated accordingly and brought back to the City Council for review.

These revisions were discussed and approved by the Finance Subcommittee on April 28, 2026.

ALTERNATIVES

1. Approve Debt Management Policy. This alternative is recommended so that the City’s policies and practices conform to the current debt management standards as established by municipal oversight agencies.

2. Do not approve Debt Management Policy and provide staff with additional direction. The alternative is not recommended since it will result in the delay of the review and adoption of the policy and could result in the City being out of compliance with state law.

FISCAL IMPACT

No current fiscal impact.

NOTIFICATION

Public Notice

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Alan Garcia Felicia London Financial Operations Division Manager Chief Financial Officer/City Treasurer

Concurred By:

Patty Yhuit
Deputy Finance Director (Operations)

CITY COUNCIL GOALS

None
81 ID: 26-0204 Page 3

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

82 ID: 26-0204 Page 4
Report Approval Details
Document Title: STAFFREPORT_FMS_ANNUAL REVIEW OF THE DEBT MANAGEMENT POLICY 5.19.26.docx
Attachments: - 3.10 Debt Management Policy - 5.19.26 - Final.pdf - 3.10 Debt Management Policy - 5.19.26 - Revised.pdf
Final Approval Date: May 13, 2026

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

No Signature found
Alan Garcia
Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez
83 City of Moreno Valley Fiscal
Policy #3.10

Page 1 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 Purpose: The following debt policies were developed in an effort to standardize and rationalize the issuance and management of debt by the City of Moreno Valley and its component units. The policies apply to all direct debt issued by the City of More no Valley, including leases, debt guaranteed by the City, and revenue bonds issued by the City. The policies also apply, along with certain other previously adopted policies, to so-called no-commitment debt and to conduit debt of the City.

I. Scope
A. This policy will apply to the following funds and entities:

1. The City of Moreno Valley
a. General Fund
b. Moreno Valley Utilities

2. Moreno Valley Community Facility Districts (CFD)

3. Moreno Valley Community Services District (CSD)

4. Moreno Valley Public Financing Authority (MVPFA)
II. Introduction
A. The City’s budget practices generally have been that operating revenues fully cover operating expenses, including debt service; established reserves meet minimum policy levels; “one- time” revenues are used to fund nonrecurring expenditures; and the prioritization of capital projects eligible for debt financing is accomplished through a “needs assessment” undertaken in the formulation and development of the City’s Capital Improvement Budget.

B. The policies are divided into discrete sections relating to: the purposes and uses of debt by the City; the City’s creditworthiness objectives; the standards and structure to be used in City debt issues; debt administration and process; criteria for selection of the debt consulting team; and, appendices which summarize the City’s current de bt portfolio and which provide the reader with a glossary of common terms used in the municipal debt sector.

C. Debt will only be undertaken when the City believes that the project revenues or specific resources will be available and sufficient to servi ce the debt over its life. City debt will not be issued for periods exceeding the useful life or average useful lives of the project or projects to be financed. The policies establish criteria for internal, inter-fund borrowing.

D. Before issuing lease revenue debt or financing leases, the City will determine that the proposed facility is both necessary and desirable, and that no other financing method is practical to finance it. The City shall only use lease revenue debt or financing leases if the tests set forth in the policies are met.

E. The City seeks to maintain the highest possible credit ratings for all categories of short- and long-term direct debt that can be achieved without compromising delivery of basic City services and achievement of adopted City policy objectives.

F. The City will seek to structure debt with level principal and interest costs over the life of the debt.

84 City of Moreno Valley Fiscal
Policy #3.10

Page 2 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 G. As a matter of policy, no City department, agen cy, or sub-unit shall incur long-term debt in excess of $100,000 without the approval of the C ity Council. All requests to incur debt in excess of $100,000 will be presented by memorand um to the Chief Financial Officer/City Treasurer.

H. The City may sponsor conduit financings for those activities (i.e., economic development, housing, health facilities, etc.) that have a ge neral public purpose and are consistent with the City’s General Plan and with the City's overa ll service and policy objectives, as determined by the City Council. It shall be the City’s policy to approve for conduit financing only those projects that demonstrate a “significant public benefit.” The City will require a deposit of its anticipated fees and expenses for any entity seeking financing through the City as a conduit.

I. The policies establish a Debt Management Team, comprised “ex officio” of the City Manager, the Chief Financial Officer/City Treasurer, and the City Attorney, or their respective designee(s). The Debt Management Team is authorized to provide advice to the City Council, the City Manager, the Chief Financial Officer/City Treasurer, and the various Departments of the City in all matters pertaining to the creation of debt. All direct or indirect debt of the City will be presented to the City Council’s Finance committee for deliberation and recommendation prior to submittal to the full City Council. For all debt sales, the City will require that the action taken by the City Council to incur the debt will be taken as a regular business item, and at a regular or special City Council meeting, consistent with state law.

J. The City may engage an underwriter for a ne gotiated sale of debt through a competitive process administered by the City's Financial & Management Services Department based on the prior recommendation of the City’s Debt Management Team.

K. All debt issued by the City will include a wr itten opinion by bond counsel affirming that the City is authorized to issue the debt, stating that the City has met all statutory requirements necessary for issuance, and determining the fede ral income tax status of such debt. Bond counsel will be selected by the City Attorney based on the prior recommendation of the City’s Debt Management Team.

L. While engagement of a municipal advisor on each City debt issue is not required, it is strongly encouraged by the policies. The City may e ngage an external municipal advisor through a competitive process administered by the City's Financial & Management Services Department based on the prior recommendation of the City’s Debt Management Team.

M. Any unsolicited financing proposal to a City department, agency, or employee involving pledge or other extension of the City's credit through sale of securities, execution of loans or leases, marketing guarantees, or otherwise involving directly or indirectly the lending or pledging of the City's credit, shall be refe rred to the Financial & Management Services Department for review by the City’s Debt Mana gement Team prior to submittal to the City Council for approval.

N. “No commitment” debt is defined differen tly from conduit debt by the Governmental Accounting Standards Board (“GASB”). The City’s no commitment debt is described in the exhibits to these Policies and in the notes to th e City’s financial statements. It consists generally of so-called “land secured debt” such as Mello-Roos or assessment district debt that 85 City of Moreno Valley Fiscal
Policy #3.10

Page 3 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 indirectly benefits the City but for which the City has no financial commitment. Thus, this is “off balance sheet” debt which is afforded the same treatment as “conduit debt,” but which bears different risks in the event of non-compliance with the borrowing agreements.

O. Conduit debt is debt issued by a governme nt for the express purpose of providing capital financing for a third party that is not part of the issuing government’s financial reporting entity.

These obligations may bear the name of the City but are not legal obligations of the City.

P. Regular, updated debt policies can be an important tool to insure the use of the City's resources to meet its commitments to provide needed ser vices to the citizens of Moreno Valley and to maintain sound financial management practices. These Policies are therefore guidelines for general use, and allow for waivers in extraordinary conditions. The Policies will have served their intended purpose if they stimulate an ope n debate about the City’s existing and/or proposed debt position, and they lead to informed decision making by the City Council.

III. Purposes and Uses of Debt

A. Capital Financing – In General

1. The City normally will rely first on inte rnally generated funds and/or grants and contributions from other governments to finance its capital needs. Debt will be issued for a capital project only in the case of emergency or when it is an appropriate means to achieve an equitable allocati on of costs between current and future beneficiaries as determined by the City Council. Debt shall not, in general, be used for projects solely because insufficient funds are budgeted at the time of acquisition or construction. Debt will only be undertaken when the City believes that the project revenues or specific resources will be available and sufficient to service the debt over its life. Debt financing will not be considered appropriate for any recurring purpose such as operating or maintenance costs.

2. Capital improvements should be financed primarily through user fees, service charges, assessments, special taxes or developer exactions so long as the benefits the City will derive from such improvements can be attributed to the users of the improvements. Moreover, the City will sp ecifically consider the costs associated with any borrowing in order to determine that the above funding sources are adequate to service the proposed debt. Accordingly, the Policies assume that development fees will be set at a level that is sufficient at all times to insure that new development pays its fair share of the cost of constructing new facilities in the community.

3. The City will evaluate the use of debt in -lieu of “pay-as-you-go” financing on the basis of the following criteria:

a. Factors favoring “Pay-as-You-Go” financing
i. Current fund balances or project revenues are sufficient to fund the project
ii. Existing or proposed debt levels would have a deleterious effect on the City’s credit position or rating
86 City of Moreno Valley Fiscal
Policy #3.10

Page 4 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 iii. Credit market conditions are unstable or present extraordinary difficulty in marketing the proposed debt

b. Factors favoring use of debt
i. Revenues are deemed to be stable and reliable enough to support the proposed debt at investment grade rating levels
ii. The nature of the financed proj ect will support investment grade ratings
iii. Credit market conditions present favorable interest rates and demand for financings such as the City’s
iv. The project being financed is mandated by the state or federal government and resources are insufficient or unavailable v. The project being financed is immediately required to meet or relieve capacity needs and current resources are insufficient or unavailable
vi. The estimated useful life of the asset to be financed is greater than 5 years

B. Asset Life: The City will consider long-term financing for the acquisition, maintenance, replacement, or expansion of physical assets (including land) only if they have a useful life of at least five years. City debt will not be issued for periods exceeding the useful life or average useful lives of the project or projects to be financed.

C. General Obligation Debt

1. General obligation bonds provide the lowest borrowing costs for major public assets.

The use of a general obligation pledge usually eliminates the need for a bond reserve and due to its high credit quality and the ability to levy a tax to repay it, produces borrowing terms and costs unavailable through other methods. Moreover, since the source of repayment of a general obligation bond is from proceeds of specific taxes, the City’s operating funds and its operating position are not impacted by the issuance of general obligation bonds. Though the u se of the term “general obligation bond” implies that the City’s “full faith and credit” would be pledged to the repayment of the bond, the bond is actually repaid from an ad valorem tax on real property.

Accordingly, the general obligation bond is more properly described as an “unlimited tax” bond.

2. Because of the absence of a limitation on the rate and amount of the tax that might be levied to pay a general obligation b ond, state law and prudent finance practice require the submission of such a proposed debt to the electorate. Article XIII of the California Constitution requires that genera l obligation bonds be submitted to the voters for approval and that the issuance of such bonds be approved by a two-thirds vote.

3. Ad valorem property taxes affect various classes of taxpayers differently. Since the enactment of Proposition 13 in 1978, the increases in assessed value of real property have been limited for established proper ty owners. This has the effect of disproportionately burdening newer property owners, who may have less wealth or 87 City of Moreno Valley Fiscal
Policy #3.10

Page 5 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 taxpaying capacity than older, more established property owners. Moreover, business property owners, whose property turns over less frequently than residential property often benefit as a result of this phenomenon.

4. Cities in California may issue general obligation bonds only for the purpose of acquiring, improving or constructing real pr operty. Accordingly, it shall be the City’s policy to issue general obligation bonds only for such purposes and then only when the acquisition, improvement, or c onstruction of the proposed real property will provide benefits to the community, in significant amounts, to both users and non-users of the facility.

D. Use of Lease Debt, Certificates of Participation or Financing Leases: Before issuing lease revenue debt or financing leases, the City will determine that the proposed facility is both necessary and desirable, and that no other financing method is practical to finance it. The City may use lease revenue debt or financing leases for those projects which are not sufficiently popular to obtain a two-thirds vote for the issuance of general obligation bonds or which must be financed at a time, or in a manner which do not permit the use of general obligation bonds.

The City shall only use lease reve nue debt or financing leases: if the project to be financed will generate positive net revenues after debt service; or if the project will significantly reduce City operating costs; or if an equal or greater amount of non-City matching funds will be lost if City’s lease revenue or financing lease funds are not applied in a timely manner; or if the project to be financed is less than $1,000,000; or if the project to be financed provides essential City services or would so advance core City policy objectives that its value overrides the value of obtaining voter approval.

IV. “No Commitment” and Conduit Debt

A. City as Issuer of “No-Commitment Debt” or Conduit Debt

1. The City may sponsor conduit financi ngs for those activities (i.e., economic development, housing, health facilities, etc.) that have a general public purpose and are consistent with the City's overall service and policy objectives as determined by the City Council and with the City’s Ge neral Plan. All conduit financings shall insulate the City complete ly from any credit risk or exposure and must first be approved by the Chief Financial Officer/City Treasurer and the City Manager before being submitted to City Council for authorization and implementation.

2. Each applicant for a conduit financing by th e City will be required to provide an indemnity to the City, or its constituent ag encies, for all costs, expenses, attorney fees, settlement or judgment costs arisi ng out of the financ ing or any of the documentation relating to the financing.

B. Significant Public Benefit Test for Conduit Debt

1. It shall be the City’s policy to approve for conduit financing only those projects that demonstrate a “significant public benefit.” In general, “significant public benefit” means that the proposed project will enhance the economic, social or cultural quality of life for the residents of the City; or, that the proposed project will stimulate 88 City of Moreno Valley Fiscal
Policy #3.10

Page 6 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 employment within the City; and, that such enhancement or employment gain can be measured in a manner which permits the City to evaluate the risks and rewards of acting as the conduit issuer. Significant public benefit will be based on the City’s evaluation of the availability of public access to the widest possible number of residents of the City, depending on the context.

2. Acceleration or addition of public infrastructure in excess of that required by law or the City’s land use polices could also produce significant public benefit. Such benefits arise either from the installation or completion of public infrastructure assets prior to the time they might otherwise be installed or from the additional assets which might be realized as a result of being able to finance the project more efficiently.

3. Finally, the finding of significant public benefit can arise from the installation or acquisition of a community asset which produces additional employment opportunities or which produces environmental benefits either as a direct or secondary result of its completion. In circumstances where the financed improvements generate regiona l benefits, the finding of significant public benefit will be easier than in those where the fi nanced facilities serve only a small number of residents. The process for approval of a conduit financing will generally require a two-step process. First, the Chief Financial Officer/City Treasurer and the City Manager will seek City Council direction and will establish the ground rules for evaluating the request. Requests for conduit financing which do not originate within the Financial & Management Services Depart ment shall be forwarded to the Chief Financial Officer/City Treasurer or City Ma nager for transmittal to the City’s Debt Management Team, which is described in Paragraph VI-A-2. Upon an evaluation by the Chief Financial Officer/City Treasurer and the City Manager, the matter will be referred back to the City Council for approval of the financing documents.

4. The City will require a financial pro form a and business plan for any project to be financed with the proceeds of a conduit issue. The City will impose a fee for acting as a conduit issuer of securities as shown in Appendix B hereto. The City will require an initial deposit of $40,000 to reflect current 2026 costs for any entity seeking financing through the City as a conduit, wh ich will be held by the City, and which the City may require additional deposits to, from time to time. The City’s fees and costs will be charged against the initial or subsequent deposits, and any excess remaining at the time of issuance of the debt, or the abandonment of the project, whichever is applicable, will be refunded to the applicant.

C. Credit Quality of Conduit Debt

1. The City will consider conduit financing only for those applicants which are credit- enhanced or expected so as to attain a rating of at least “A” from any one of the three major credit rating agencies. The City may consider a waiver of this requirement in special circumstances and upon the writte n recommendation of the City’s Chief Financial Officer/City Treasurer. In c ases where the City elects to waive this requirement, it specifically reserves the right to require the sponsor of such a conduit financing to use a private placement of the securities and to impose a “sophisticated investor” requirement acceptable to the C ity. In this context the concept of a 89 City of Moreno Valley Fiscal
Policy #3.10

Page 7 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 “sophisticated investor” will be the standa rd imposed by federal securities law for private placements of corporate securities. In addition, the City will seek to limit the resale of the securities in one of the followi ng ways: (1) the investor must agree to hold the securities to their resp ective maturity dates; or, (2 ) the investor must agree to secure a rating on the bonds of at least “A” before reselling them; or, (3) the investor must agree to resell the securities only (a) to another sophisticated investor who will also agree to sign a sophisticated i nvestor letter, and (b) obtain the City’s approval for such a resale. Selection of an individual criterion depends on the facts and circumstances of the particular sale, but restrictions 1 and 3 above are most suitable where the credit characteristics of the individual issue are expected to remain static. Issues that are expected to improve over time in credit characteristics are more appropriate for the application of rule number 2.

V. Creditworthiness Objectives

A. Credit Ratings

1. The City of Moreno Valley seeks to maintain the highest possible credit ratings for all categories of short- and long-term dir ect debt that can be achieved without compromising delivery of basic City serv ices and achievement of adopted City policy objectives. The City recognizes that there is a direct correlation between the credit rating it achieves and the cost of bo rrowing. Therefore, as a general rule, the City will seek to acquire and maintain an investment grade rating on all of its direct debt.

2. The City recognizes that external economic, na tural, or other events may from time to time affect the creditworthiness of its de bt. Nevertheless, the City is committed to ensuring that actions within its contro l are prudent and consistent with these Policies.

B. Financial Disclosure, Initial and Continuing

1. The City is committed to full and complete financial disclosure, and to cooperating fully with rating agencies, institutional a nd individual investors, City departments and agencies, other levels of government , and the general public to share clear, comprehensible, and accurate financial in formation. The City is committed to meeting secondary disclosure requirements as set forth in Securities and Exchange Commission Rule 15c2-12, and its ame ndments, on a timely and comprehensive basis. (See Section VIII– Continuing Disclosure for additional discussion.)

2. Official statements accompanying debt issues, Annual Comprehensive Financial Reports, and continuous disclosure statements will meet (at a minimum), the standards articulated by the Municipal Standards Rulemaking Board (MSRB), the Government Accounting Standards Boar d (GASB), the National Federation of Municipal Analysts, the Securities and Exchange Commission (SEC), and Generally Accepted Accounting Principles (GAAP). The Financial & Management Services Department is designated as the responsible party for ongoing disclosure to established national information repositori es and for maintaining compliance with 90 City of Moreno Valley Fiscal
Policy #3.10

Page 8 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 disclosure standards promulgated by stat e and national regulatory bodies and for compliance with continuing disclosure requirements required by contractual arrangements necessary to comply with Rule 15c2-12.

C. Capital Planning: To enhance creditworthiness and prudent financial management, the City of Moreno Valley is committed to systematic cap ital planning, intergovernmental cooperation and coordination, and long-term financial planning. Evidence of this commitment to systematic capital planning will be demonstrated through adoption of an annual review of the City’s capital improvement budget and its ten-year capital improvement plan budget.

D. Debt Limits: The City will keep outstanding debt within the limits prescribed by State statute and at levels consistent with its creditworthiness objectives. In the case of debt serviced from the City’s General Fund, the City will observe a guideline of 7% of the amounts budgeted for expenditures and transfers out as the maximu m level for General Fund resources committed to the repayment of debt.

VI. Debt Standards and Structure

A. Term of Debt: Debt will be structured for the sh ortest period consistent with a fair allocation of costs to current and future beneficiaries or users. The implication of this policy will generally require that debt be issued only for a time period that is consistent with the life span of the project for which the debt was issued.

B. Debt Structure

1. Debt will be structured to achieve the lo west possible net cost to the City given market conditions, the urgency of the capita l project, and the nature and type of security provided. Moreover, to the ex tent possible, the City will design the repayment of its overall debt so as to recaptu re rapidly its credit capacity for future use. The City shall strive to repay at least 20 percent of the principal amount of its general fund supported debt within five years and at least 40 percent within ten years as these measures are used by the major national credit rating agencies to determine the creditworthiness of the City. In appl ying the 20% and 40% tests, the debt repayment amounts are non-cumulative, that is , the goal is to have all of the City’s general fund debt structured so as to achie ve a reduction in principal of 20% at the five year mark and 40% at the ten year mark. Individual issues will be structured so that the new debt is retired using a level debt service.

2. Individual issues may be structured using either serial bonds or term bonds. In the case of issues structured with term bonds, the City will use a sinking fund to retire the term bonds. A sinking fund is th e mechanism whereby money is accumulated on a regular basis in a separate account for the purpose of redeeming the term bonds when due. The sinking fund monies are t ypically applied to redeem bonds on an annual basis in amounts that would result in approximately level debt service requirements.

3. The City will not issue debt that commences principal payment beyond the fiscal year in which the financed asset is completed or is substantially available to the City. 91 City of Moreno Valley Fiscal
Policy #3.10

Page 9 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 Capitalized interest may be used in the debt structure, but only to the extent necessary to accommodate the deferral of principal to the point of substantial availability to the City.

C. Amortization

1. The City will seek to structure debt with level principal and interest costs over the life of the debt. So-called "back-loading" of debt service will be considered only when natural disasters or extraordinary or unanticipated external factors make the short-term cost of the debt prohibitive, when the benefits derived from the debt issuance can clearly be demonstrated to be greater in the future than in the present, when such structuring is beneficial to the City's overall amortization schedule, or when such structuring will allow debt service to more closely match project revenues during the early years of the project's operation.

2. In the case of an issue structured with term bonds and a sinking fund, the City’s policy will be to retire the term bonds in substantially level fashion over each year of the life of the sinking fund unless the factors described above apply.

D. Variable Rate Debt : The City may choose to issue securities that pay a rate of interest that varies according to pre-determined formula or results from a periodic remarketing of the securities, consistent with state law and c ovenants of pre-existi ng bonds, and depending on market conditions. The City may elect to contro l its interest rate exposure on variable rate debt through the use of financial products designed to offset such risks, but only upon the expressed approval of the Chief Financial Officer/City Treasurer.

E. Subordinate Debt: The City shall issue subordinate lien debt only if it is financially beneficial to the City and is consistent with the C ity’s creditworthiness objectives as set forth in Paragraph IV-A, “Credit Ratings.” Generally, subordinated debt is that debt which has a lien position on an asset or revenue stream that is junior in position to another debt issues.

Examples could include leases that are junior in payment obligation to senior leases.

F. Non-Traditional Financial Products: The City will consider the use of non-traditional financial products on a case by case basis and consistent with state law and financial prudence.

Examples of such non-traditional products include: in terest rate swaps, interest rate caps and collars, “synthetic” refunding transactions and float contracts. Use of non-traditional financial products will only be undertaken upon wr itten recommendation of the Chief Financial Officer/City Treasurer and concurrence by the City Council.

G. Tax-Exempt vs. Taxable Bonds: The City generally seeks to issue debt at the lowest total cost.

Generally this objective is achieved through the issuance of tax-exempt debt which can be offered at lower interest rates since investors get the additional benefit of the tax break. The Internal Revenue has established guidelines which must be met for municipal bond issuances to qualify for the tax-exempt status. (For a mo re detailed discussion of this issue please see IRS Publication 4079 – Tax-Exempt Government Bonds). One of the relationships that can interfere with the City’s ability to issue under the tax-exempt status is the area of Management and Service Contracts. When entering into these types of contracts it is recommended that the 92 City of Moreno Valley Fiscal
Policy #3.10

Page 10 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 City involve bond counsel to ensure that the language does not impact the ability of the City to issue tax-exempt debt related to the impacted facilities or improvements.

H. Refunding

1. Periodic reviews of all outstanding debt w ill be undertaken to determine refunding opportunities. Refunding will be considered (within federal tax law constraints) if and when there is a net economic benefit of the refunding or the refunding is essential in order to modernize covenants essential to the City’s financial or operating position.

2. In general, advance refundings for econom ic savings will be undertaken when net present value savings of at least five percent (5%) of the refunded debt can be achieved. Current refundings that produce net present value savings of less than five percent will be considered on a case-by-case basis, provided that the present value savings are at least three percent (3%) of the refunded debt. Refundings with savings of less than three percent (3%), or with negative savings, will not be considered unless there is a compelling public policy objective. The measurement of the 3% or 5% savings may, but is not required, to c onsider benefits to the City from sources other than the proposed bond transaction, if deemed appropriate by the City’s Debt Management Team.

I. Short-Term Borrowings: Use of short-term borrowing, such as bond anticipation notes (BANs), tax and revenue anticipation notes (TRANs), tax-exempt commercial paper and other similar short-term borrowing vehicles will be undertaken only if the transaction costs plus interest of the debt are less than the cost of internal financing, or available cash is insufficient to meet working capital requirements. The City will not employ the use of such borrowings solely for the purpose of earning arbitrage profits.

J. Credit Enhancements: Credit enhancement (let ters of credit, reserve fund surety, bond insurance, etc.) will be used to the extent that net debt service on the bonds is reduced by more than the costs of the enhancement, measured in present value terms. In order to calculate the economic effectiveness of a credit enhancement, the City will compare the present worth of the debt service required on the proposed tr ansaction on both an enhanced and unenhanced basis to determine the economic benefits of the enhancement offered. Credit enhancement which does not produce economic benefits, in present value terms, will be considered only if acceptance of the enhancement directly furthers other City goals and objectives.

VII. Debt Administration and Process

A. All Debt to be Reviewed by City’s Debt Management Team

1. No City Department, agency, or sub-unit shall incur long term debt of more than $100,000 without the approval of the City Council. Indebtedness is generally any obligation of the City to pay money in the future with a stated maturity of longer than nine months. All requests to incur long term debt of more than $100,000 and with a stated maturity of longer than nine months will be presented by memo from the requesting Department, through the Chief Financial Officer/City Treasurer, to the 93 City of Moreno Valley Fiscal
Policy #3.10

Page 11 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 City’s Debt Management Team. The memo shall specify the purpose of the borrowing, any options for financing the project without borrowing, and specific sources of payment of debt service. This policy is not intended to be an impediment to the purchase of goods or services, or the contracting for such goods or services by the City in the normal course of business.

2. The Debt Management Team will be compri sed “ex officio” of the City Manager, the Chief Financial Officer/City Treasurer and the City Attorney, or their respective designee(s). The City Manager may a ppoint additional members to the Debt Management Team on an ad hoc basis as individual circumstances warrant. The Debt Management Team is authorized to provide advice to the City Council, the City Manager, the Chief Financial Officer/City Treasurer, and the various Departments of the City in all matters pertaining to the creation of debt. The Chief Financial Officer/City Treasurer has responsibility for the oversight and periodic review of these Policies, and will recommend amendm ents from time to time to the City Council. All direct and indirect debt of the City and its component units will be presented to the City Council’s Finance Committee for deliberation and recommendation prior to submittal to the full City Council.

B. Investment of Bond Proceeds

1. All general fund supported and revenue bond proceeds sha ll be invested as part of the City's consolidated pool, using ap propriate trust fund accounting procedures, unless otherwise specified by law or the controlling bond documents and approved in advance by the Chief Financial Officer /City Treasurer. Investments will be consistent with those authorized by existi ng state law and by the City's investment policy

2. It will also be the City’s policy to select investment advisors, if appropriate to the facts and circumstances of an individual borrowing or borrowing program, on a basis similar to that which it uses to engage investment advisors for its investment portfolio. The City will execute the investment directives for bond proceeds through the applicable trustee for such proceeds.

C. Costs and Fees

1. All costs and fees related to issuance of bonds will be paid out of bond proceeds. In the case of conduit financings, the City may require prepayment for certain costs and fees from the project applicant(s). Under certain extraordinary circumstances, the City may authorize the expenditure of C ity funds for the engagement of outside counsel or consultants for the purpose of assisting the City with the feasibility analysis of the contemplated debt. It is intended that any expenditure for such purposes would be in anticipation of, or reliance upon, reimbursement by a project applicant for such expenses.

2. Should the proposed debt issue be abandoned prior to its completion, the City will retain any deposits or prepayments in amounts necessary to insure that its costs, both direct and indirect, are fully recovered.
94 City of Moreno Valley Fiscal
Policy #3.10

Page 12 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

D. Method of Sale

1. In general, City debt will be issued through a competitive bidding process. Bids will be awarded on a true interest cost basis (TIC), providing other bidding requirements are satisfied. In such in stances where the City in a competitive bidding deems the bids received unsatisfactory, it may, at the election of the Chief Financial Officer/City Treasurer, enter into negotiation for sale of the securities.

2. Negotiated sales of debt will be considered in circumstances when the complexity of the issue requires specialized expertise, when a change of underwriter may result in losses (for example, changing the remarketing agent in mid-program for variable rate debt), when the negotiated sale would result in substantial savings in time or money, or when market conditions or City credit are unusually volatile or uncertain. Only the Chief Financial Officer/City Treasurer shall make such a determination.

E. Council Action to be Regular Business Item, No t Consent Calendar: For all debt sales, the City will require that the action taken by the City Council to incur the debt will be taken as a regular business item, and at a regular or special City Council meeting, consistent with state law. Generally, it shall be the City’s policy to submit the proposed debt issuance to the City Council in a study session wherever possible prior to submittal to the full City Council as an action item.

VIII. Underwriters, Consultants and Counsel

A. Underwriters

1. For all competitive and negotiated sales, underwriters will be required to demonstrate sufficient capitalization and experience related to the debt. The City may engage an underwriter for a negotiated sale of debt through a competitive process administered by the City's Financial & Management Se rvices Department based on the prior recommendation of the City’s Debt Mana gement Team. The utilization of the underwriter for a particular bond sale will be at the discretion of the Financial & Management Services Department and pursuant to a written underwriting agreement.

2. The selection process for underwriters will require that the selected underwriter have comprehensive municipal debt experien ce, experience with diverse financial structuring requirements and strong distribution capabilities for municipal securities.

Upon completion of the underwriter’s engagement, the City has the option of making a new arrangement with any existing underwriter.

B. Payment of Underwriter’s Counsel Fees : City payments for underwriter’s counsel in negotiated sales will be authorized by the Fina ncial & Management Services Department on a case by case basis depending on the nature and complexity of the transaction and the needs expressed by the underwriters.

C. Bond Counsel: The City will retain external bond counsel for all debt issues and such retainer will be evidenced by a contract with the selected firm(s). All debt issued by the City will 95 City of Moreno Valley Fiscal
Policy #3.10

Page 13 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 include a written opinion by bond counsel affirming that the City is authorized to issue the debt, stating that the City has met all stat utory requirements necessary for issuance, and determining the federal income tax status of such debt. Bond counsel will be selected by the City Attorney based on the prior recommendation of the City’s Debt Management Team. The selection process will require comprehensive municipal debt experience and clearly demonstrated skill and capabilities in the municipal bond sector and with the type of financing proposed. Upon expiration of a specific contract, the City has the option of signing a new contract with its existing bond counsel.

D. Disclosure Counsel: In certain instances, the C ity may choose to engage the services of a disclosure counsel for the purposes of assisting in the various aspects of the preparation of an official statement, private placement memorandum or other form of offering, disclosure or continuing disclosure document to be disseminate d in connection with the sale of the City’s debt or conduit debt. In performing these services, the disclosure counsel is clearly representing the City, as the issuer of the debt , and not the underwriter as well, as is the case where underwriter’s counsel prepares such documents. Because disclosure counsel is engaged by the City, the cost of disclosure counsel’s services is typically paid from the proceeds of the debt issue, and may be structured as either hourly charges or fixed fees, depending on the circumstances.

E. Municipal Advisor

1. The utilization of the municipal advisor fo r particular bond sales will be at the discretion of the Financial & Management Services Department on a case by case basis and pursuant to a written municipal advisory service contract. While engagement of a municipal advisor on each City debt issue is not required, it is strongly encouraged. In particular, the services of a municipal advisor will be used on all competitive sales of City debt as we ll as those negotiated issues that present unique structuring, marketing or credit circumstances.

2. The City may engage an external munici pal advisor through a competitive process administered by the City's Financial & Management Services Department based on the prior recommendation of the City’s Debt Management Team. The selection process for municipal advisors will require that the selected municipal advisor have comprehensive municipal debt experien ce, experience with diverse financial structuring requirements and strong pricing capabilities for determining the fairness of the prices received by the City for its debt issues. Upon completion of the municipal advisor’s engagement, the City has the option of making a new arrangement with any existing municipal advisor.

3. For each engagement the municipal advi sor will provide services to the Chief Financial Officer/City Treasurer and such other departments of the City as may be designated by the Chief Financial Officer/City Treasurer pursuant to an agreed upon scope of services to be negotiated with the Chief Financial Officer/City Treasurer.

F. Fiscal Agents, Paying Agents and Trustees
: The Financial & Management Services
Department will utilize a fiscal agent, paying agent or trustee on all City indebtedness, as may be required by the type of debt instrument being used. Fees for such services on outstanding 96 City of Moreno Valley Fiscal
Policy #3.10

Page 14 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 bonds will be paid from the resources of the department or program supporting the debt service on the instrument, unless specified otherwise by the Chief Financial Officer/City Treasurer.

The City’s Financial & Management Services Department will administer the review and journalizing of transactions from monthly statem ents furnished by the fiscal agent, paying agent or trustee, as the case may be.

G. Compensation for Services: Compensation for bond counsel, underwriter's counsel, municipal advisors, and other financial service providers will be consistent with industry standards.

H. Selection Process: The Chief Financial Officer/City Treasurer shall make all final determinations of selection for underwrite rs, and municipal advisors based on the recommendation of the City’s Debt Manageme nt Team. The determination will be made following an independent review of competitive bids or responses to requests for proposals (RFPs) or requests for statements of qualifica tions (RFQs). The City’s Debt Management Team will review the proposals or statements of qualifications. The City’s municipal advisors at the direction of the Chief Financial Offi cer/City Treasurer may also review underwriter proposals.

I. Other Service Providers: The Chief Financial O fficer/City Treasurer shall have the authority to periodically select other service providers (e.g., escrow agents, verification agents, trustees, arbitrage consultants, assessment engineers, special tax consultants, investment advisors etc.) as necessary to meet legal requirements and minimize net City debt costs. The Chief Financial Officer/City Treasurer may select firm(s) to provide such financial services related to debt without a RFP or RFQ, consistent with City re quirements. A firm so selected must receive Chief Financial Officer/City Treasurer approv al before undertaking any transaction or providing any service.

IX. Continuing Disclosure
A. Background

Pursuant to SEC Rule 15c2-12 (the “Rule”), issuers of obligations are required under most circumstances to provide financial and operati ng information on an annual basis with the Municipal Securities Rulemaking Board (MSRB) using the Electronic Municipal Market Access system (EMMA). The City of Moreno Va lley, California (the “City”), the Moreno Valley Public Financing Authority (MVPFA), the Successor Agency to the Moreno Valley Redevelopment Agency and certain community facility districts and assessment districts (collectively, the “Moreno Valley Issuers”) have issued or may issue obligations which are covered by the Rule (the “Obligations”) and must comply with any required filings in a timely manner. These Policies and Procedures are intended to assure that all filings required under the Rule are made timely and completely and meet all requirements of the Rule. The Moreno Valley Issuers have covenanted or will covenant to comply with the Rule through the execution and delivery of continuing disclosure agreements or certificates (each, a “Continuing Disclosure Undertaking”) applicable to each issue of Obligations.

The Rule requires that an underwriter, prior to purchasing or selling an issue of obligations in connection with a covered offering, determin e that the issuer, and any other “Obligated Person” (as defined in the Rule ) for whom financial or operat ing data is presented in the 97 City of Moreno Valley Fiscal
Policy #3.10

Page 15 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 official statement, has undertaken in writing to provide the following information to the MSRB using EMMA and to the appropriate state information depository (“SID”), if any:

Note: There is no SID currently in the State of California. If the State of California should establish a SID, the Moreno Valley Issuers may also be required to file all required information with the SID depending on the contractual re quirements of their previous Continuing Disclosure Undertakings.

1. By a specified date, annual financial and operating information for each Obligated Person for whom financial information or operating data is presented in the official statement (an “Annual Information Filing”).

2. By a specified date, if available, audited annual financial statements for each Obligated Person (“Audited Financial Statements”) and, if not available by the date required, unaudited financial statements followed by with Audited Financial Statements once they are available.

3. In a timely manner within 10 business days of occurrence, notice of the occurrence of one or more of the listed events described in the Rule (a “Rule 15c2-12 Event Notice”).

4. Not less than 30 days before the submission date, the Responsible Party shall prepare a draft submission of required financial and operating information, highlighting any information still unavailable.

5. In a timely manner, notice of a failure of any Obligated Person required to make the Annual Information Filing and/or file the Audited Financial Statements on or before the date(s) specified in the Continuing Disclosure Undertaking (“Notice of Failure”).

A. Listed Events

“The Rule” requires filing of a Rule 15c2-12 Event Notice upon the occurrence of certain listed events described in the Continuing Disclosure Undertakings. The Responsible Party shall provide a Rule 15c2-12 Event Notice to the MSRB using EMMA within 10 business days of occurrence of any such listed event. The list is as follows:

1. Principal and interest payment delinquencies

2. Non-payment related defaults

3. Unscheduled draws on debt service reserves reflecting financial difficulties

4. Unscheduled draws on credit enhancements reflecting financial difficulties

5. Adverse tax opinions, IRS notices or material events affecting the tax status of the security

6. Modifications of rights of security holders (if material)

7. Bond calls (if material)
98 City of Moreno Valley Fiscal
Policy #3.10

Page 16 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

8. Defeasances

9. Release, substitution or sale of prope rty securing repayment of the securities (if material)

10. Rating changes

11. Tender offers

12. Bankruptcy, insolvency, receivership or similar event of the obligated person

13. Merger, consolidation, or acquisition of the obligated person (if material)

14. Appointment of a successor or additional trustee, or the change of name of a trustee (if material)

15. Substitution of credit or liquidity providers, or their failure to perform

16. Incurrence of financial obligation (if material)

17. Default, event of acceleration, termination event, modification of terms or other similar events under the terms of a financia l obligation of the obligated party, any of which reflect financial difficulties.

18. Other voluntary disclosure as listed in the Rule

B. Familiarity with EMMA Submission Process

1. The Responsible Party shall register with EMMA and review the on-line process of filing with EMMA located at www.emma.msrb.org in order to submit the required information. The MSRB market Information Department can also be contacted at (703) 797-6668. A tutorial is available at the website and a practice submission is available as well.

2. The Responsible Party also shall enroll the Moreno Valley Issuers in EMMA’s reminder system to ensure timely performance of their responsibilities and obligations.

C. California Debt and Investment Advisory Commission (CDIAC)

1. With the passage of Senate Bill 1029 (Hertzberg) which became effective January 1, 2017, the Responsible Party will prepare and submit an annual report by January 31 of each year for the previously completed fiscal year.

2. CDIAC has developed the Annual Debt Transparency Report (ADTR) and an online reporting portal to assist issuers in meeting this requirement.

3. The ADTR will include the following data elements ( these requirements can be found in section 8855(k) of the California Government Code):
a. Debt authorized during the reporting period, which shall include the following:
i. Debt authorized at the beginning of the period
ii. Debt authorized and issued during the reporting period iii. Debt authorized but not issued at the end of the reporting period
iv.

Debt authority that has lapsed during the reporting period

b. Debt outstanding during the reporting period which will include:
i. Principal balance at the beginning of the reporting period 99 City of Moreno Valley Fiscal
Policy #3.10

Page 17 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 ii. Principal paid during the reporting period
iii. Principal outstanding at the end of the reporting period

c. The use of proceeds of issued debt during the reporting period which shall include:
i. Debt proceeds available at the beginning of the reporting period.
ii. Proceeds spent during the reporting period and the purpose for which it was spent.
iii. Debt proceeds remaining at the end of the period.

4. Section 6599.1 of the California Government Code requires that all issuers selling Marks-Roos bonds, which is part of the Marks-Roos Local Bond Pooling Act of 1985, after January 1, 1996 are required to report specific information to CDIAC by October 30th of the current year and each year thereafter, until maturity. Section 53359.5(b) of the California Government Code requires all agencies issuing Mello- Roos Community Facilities District bonds, including refunding bonds, after January 1, 1993, to report specific information to CDIAC by October 30th of each year.

5. To facilitate and ensure consistency in reporting, CDIAC has developed the Yearly Fiscal Status Report (YFSR).

D. Training Efforts

To ensure adequate resources to comply with the Rule, the Responsible Party shall develop a training process aimed at providing additional assistance in preparing required information.

The training process shall be conducted at least annually and shall encompass a review of the EMMA submission process and an understandi ng of the timing requirements necessary for full compliance.

E. Coordination Effort

The Responsible Party shall coordinate the preparation and submission of the required information with the Municipal Advisor, Special Tax Consultant and corporate trustees and paying agents to ensure full compliance with the requirements of the Rule and the Continuing Disclosure Undertakings.

F. Records Retention

The Responsible Party shall maintain records with respect to the filings with the MSRB using EMMA, including, but not limited to, EM MA posting receipts showing the dates and nature or contents of all filings for each issue of Obligations of any Moreno Valley Issuer outstanding during each fiscal year.

G. Investor Communication

While the City shall post its annual financia l report as well as other financial reports on the City’s website, this information is intended fo r the citizens of the City of Moreno Valley.

Information with the intention of reaching the investing public, including bondholders, rating 100
City of Moreno Valley Fiscal
Policy #3.10

Page 18 of 40 ends

DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 analysts, investment advisors, or any other member of the investment community will be filed on the EMMA system. Information similar to th at posted on EMMA will be included on the City’s website under the Investor Relations tab.

H. Responsible Party; Maintenance of List and Files

The Responsible Party for the Moreno Valley Issuers shall be the Chief Financial Officer/City Treasurer for the City and any alternate or assistant as the Chief Financial Officer/City Treasurer shall appoint. The Responsible Party shall maintain a current list for each fiscal year identifying each issue of Obligations of any Moreno Valley Issuer outstanding during such fiscal year setting forth the name, original principal amount, date of issuance and CUSIP numbers for each such issue, the dates by which the Annual Information Filings and the Audited Financial Statements are required to be submitted to the MSRB using EMMA and the current contact information for the dissem ination agent (if any) with respect to such Continuing Disclosure Undertaking, such list to be accompanied by copies of the related Continuing Disclosure Undertakings.

I. Annual Information Filing Requirements

The Responsible Party shall be knowledgeable and familiar with the provisions of each Continuing Disclosure Undertaking as to the type , format and content of the financial and operating information to be included in each Annual Information Filing to be made thereunder and the timing requirements for the filing thereof. The submission dates for the Continuing Disclosure Undertakings vary and in some cases require the filing of annual reports as early as the last day of December in each year following (or, in some cases, within 180 days following) the close of the Moreno Valle y Issuers’ fiscal year which is currently June 30.

J. Audited Financial Statements

Audited Annual Financial Statements of the Moreno Valley Issuers are also required to be filed no later than the submission dates established under each Continuing Disclosure Undertaking. The Responsible Party shall be knowledgeable and familiar with the specific timing requirements for the filing of Audited Fi nancial Statements and, if not available by the date(s) required, the provisions regarding the filing of unaudited financial statements under the terms of each Continuing Disclosure Undertaking.

K. Notices of Failures to File

The Responsible Party shall be knowledgeable and familiar with the specific requirements for the filing of a Notice of Failure to make Annual Information Filings and/or to file Audited Financial Statements by the date(s) required under the terms of each Continuing Disclosure Undertaking.

L. Preparation

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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 Approximately 90 days before the submission date for required filings established under each Continuing Disclosure Undertaking, the Responsible Party shall initiate the process of preparing the financial and operating information required to be submitted thereunder. The Responsible Party shall assemble the informatio n available at that time and determine the scope of additional information to be required and also contact the auditors to establish a schedule for completion and submission for the Audited Financial Statements.

1. Not less than 30 days before the submission date, the Responsible Party shall prepare a draft submission of required financial and operating information, highlighting any information still unavailable.

2. On or before the submission date esta blished under each Continuing Disclosure Undertaking, the Responsible Party shall make the Annual Information Filing together with the Audited Financial Statements. If the Audited Financial Statements are not then available, unaudit ed financial information shall be filed with the MSRB using EMMA and the Audited Financial Statements shall be filed within 10 business days of their receipt and acceptance.

3. The Responsible Party shall set calendar reminders in the City Finance Department’s recordkeeping systems.

II. Other Policies

A. Arbitrage Compliance: The Financial & Manageme nt Services Department shall maintain a system of record keeping and reporting to meet the arbitrage rebate compliance requirements of the Federal Tax Code.

B. Unsolicited Financing Proposals: Any unsolicite d financing proposal to a City department, agency, or employee involving pledge or other extension of the City's credit through sale of securities, execution of loans or leases, marketing guarantees, or otherwise involving directly or indirectly the lending or pledging of the City 's credit, shall be referred to the Financial & Management Services Department for review by the City’s Debt Management Team prior to submittal to the City Council for approval.

C. Internal Borrowings

1. Provided that sufficient resources are available, liquidity will not be impaired, and a defined source of repayment is available, the City will generally favor internal borrowings over external borrowings for short-term liquidity purposes. The Financial & Management Services Department may undertake inter-fund borrowings and such borrowings will be evidenced by a written memorandum or agreement specifying the tenor and terms of the borrowing, including repayment terms, interest rates and calculations and procedures for amendment and must have the approval of the City Council, except for fiscal year end accounting entries that create temporary loans for financial statement presentation purposes. Any internal borrowing must be first coordinated with the responsible managing department. For example, the internal borrowings affecting the C ity’s successor agency or Community Development Block Grant f unds should be coordinated with the Community and Economic Development Department. A ll such inter-fund borrowings will be 102
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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 reflected in the City’s accounting reco rds as “due to” and “due from” items respecting the funds and accounts borrowed from and loaned to, respectively.

2. Inter-fund borrowing will typically bear interest at the rate being borne by the Local Agency Investment Fund (“LAIF”) administered by the California State Treasurer’s Office, unless specifically recommended otherwise by the Chief Financial Officer/City Treasurer.

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DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 D. Issuance Tax Compliance

1. The purpose of these Post-Issuance Tax Co mpliance Procedures is to establish policies and procedures in connection with tax-exempt bonds or obligations (whether in the form of bonds, certificates of particip ation, installment sale contracts, leases or other financing structures) and other ta x-advantaged bonds or obligations, if any (e.g. “build America bonds” or direct pay subsidy bonds) (collectively, the “Bonds”) issued for the benefit of the City of More no Valley (the “City”) so as to ensure that the City complies with all applicable pos t-issuance requirements of federal income tax law needed to preserve the tax-exempt or special tax status of the Bonds.

2. General

a. Ultimate responsibility for all matters re lating to City financings and re- financings rests with the City’s Chief Financial Officer/City Treasurer (the “Responsible Officer”) or such other person or persons as the Responsible Officer shall designate.

3. Tax Compliance Requirements

a. External Advisors / Documentation

i. The Responsible Officer and other appropriate City personnel shall consult with bond counsel and othe r legal counsel and advisors, as needed, throughout the Bond i ssuance process to identify requirements and to establish procedures necessary or appropriate so that the Bonds will continue to qualify for the appropriate tax status. Those requirements and pr ocedures shall be documented in a City resolution(s), Tax Certificate(s) and/or other documents finalized at or before issuance of the Bonds. Those requirements and procedures shall include futu re compliance with applicable arbitrage rebate and yield restri ction requirements and all other applicable post-issuance requirements of federal tax law throughout (and in some cases beyond) the term of the Bonds.

ii. The Responsible Officer and other appropriate City personnel also shall consult with bond counsel and other legal counsel and advisors, as needed, following issuance of the Bonds to ensure that all applicable post-issuance requireme nts, in fact, are met. This shall include, without limitation, consultation in connection with future contracts with respect to the use or management of Bond- financed assets.

iii. Whenever necessary or appropriate, the City shall engage expert advisors (such as a “Rebate Service Provider”) to assist in the calculation of arbitrage rebate whic h may be payable in respect of the investment of Bond proceeds.

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DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 b. Role of the City

i. Unless otherwise provided by City resolutions, unexpended Bond proceeds shall be held by the C ity, and the investment of Bond proceeds shall be managed by the Responsible Officer. The Responsible Officer shall maintain records and shall prepare regular, periodic statements to the City regarding the investments and transactions involving Bond proceeds.

ii. If a City resolution provides for Bond proceeds to be administered by a trustee, the trustee shall provide regular, periodic (monthly) statements regarding the invest ments and transactions involving Bond proceeds.

c. Arbitrage Rebate and Yield

i. Unless a Tax Certificate document s that bond counsel has advised that arbitrage rebate will not be applicable to an issue of Bonds:

a.) the City shall engage the services of a Rebate Service Provider, and the City or the Bond trustee shall deliver periodic statements concerning the investment of Bond
proceeds to the Rebate Service Provider on a prompt basis;

b.) upon request, the Responsible Officer and other appropriate City personnel shall provide to the Rebate Service Provider additional documents and information reasonably requested by the Rebate Service Provider;

c.) the Responsible Officer and other appropriate City
personnel shall monitor effort s of the Rebate Service
Provider and assure payment of required rebate amounts, if any, no later than 60 days afte r each 5-year anniversary of the issue date of the Bonds, and no later than 60 days after the last Bond of each issue is redeemed; and

d.) during the construction period of each capital project financed in whole or in part by Bonds, the Responsible
Officer and other appropriate City personnel shall monitor the investment and expenditure of Bond proceeds and shall consult with the Rebate Se rvice Provider to determine
compliance with any appli cable exceptions from the
arbitrage rebate require ments during each 6-month
spending period up to 6 months , 18 months or 24 months, as applicable, following the issue date of the Bonds.

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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 e.) The City shall retain copies of all arbitrage reports and trustee statements as de scribed below under “Record
Keeping Requirements”.

d. Use of Bond Proceeds

i. The Responsible Officer and other appropriate City personnel shall:
a.) monitor the use of Bond proceeds and the use of Bond- financed assets (e.g., facilities, furnishings or equipment) throughout the term of the Bonds (and in some cases beyond the term of the Bonds) to ensure compliance with covenants and restrictions set forth in applicable City resolutions and Tax Certificates;

b.) maintain records identifying the assets or portion of assets that are financed or refinan ced with proceeds of each issue of Bonds;

c.) consult with Bond Counsel a nd other professional expert advisers in the review of any contracts or arrangements involving use of Bond-financed facilities to ensure
compliance with all covenants and restrictions set forth in applicable City resolutions and Tax Certificates;

d.) maintain records for any contracts or arrangements
involving the use of Bond-financed facilities as might be necessary or appropriate to document compliance with all covenants and restrictions set forth in applicable City resolutions and Tax Certificates; and

e.) meet at least annually with personnel responsible for Bond- financed assets to identify and discuss any existing or planned use of Bond-financed assets and to ensure that
those uses are consistent with all covenants and restrictions set forth in applicable City resolutions and Tax Certificates. f.) All relevant records and contracts shall be maintained as described below.

1. Record Keeping Requirements

a. Unless otherwise specified in applicable
City resolutions or Tax Certificates, the
City shall maintain the following
documents for the term of each issue of
Bonds (including refunding Bonds, if any)
plus at least three years:
b. a copy of the Bond closing transcript(s) and
other relevant documentation delivered to
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DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 the City at or in connection with closing of
the issue of Bonds;
c. a copy of all material documents relating to
capital expenditures financed or refinanced
by Bond proceeds, including (without
limitation) construction contracts, purchase
orders, invoices, trustee requisitions and
payment records, as well as documents
relating to costs reimbursed with Bond
proceeds and records identifying the assets
or portion of assets that are financed or
refinanced with Bond proceeds;
d. a copy of all contracts and arrangements
involving private business use of Bond-
financed assets; and
e. copies of all records of investments,
investment agreements, arbitrage reports
and underlying documents, including
trustee statements.

e. Identification and Correction of Violations: In the event that the use of bond proceeds or bond-financed assets, or the payments derived from such assets, are different than those expected at the time bonds are issued, the City should contact Bond Counsel in a timely manner to ensure that there is no adverse effect on the tax status of the bonds. Under existing Treasury Regulations, various “self-help” remedies are available to the City in the event of certain violations of the limits of use of bo nd proceeds, the investment of bond proceeds, and the use of the bond-financed assets. For example, a change in the use of the bond-financed assets after the issuance of the bonds that results in excessive private business use may be corrected through a 'remedial action' that is described in the Treasury Regulation Section 1.141-12. Such remedial actions include a defeasance of the portion of the bonds affected by the excessive private business use or using the disposition proceeds from the sale of the bond-financed assets for another qualified purpose. In the event that the self-help remedial actions in Treasury Regulation Section 1.141-12 are not available to the City, violations occurring through City action (or inaction) that potentially adversely affect the status of the bonds may be corrected through the Voluntary Closing Agreement Program as further described in IRS Notice 2008-31 and in Sections 7.2.3 of the Internal Revenue Manual.

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DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 APPENDIX A: GLOSSARY

AD VALOREM TAX
A tax calculated "according to the value" of property. Such a tax is based on the assessed valuation of real property and, in certain cases, on a valuation of tangible personal property. In most jurisdictions, the tax is a lien on the property enforceable by seizure and sale of the property. General restrictions, such as overall restrictions on rates, or the percent of charge allowed, sometimes apply. As a result, ad valorem taxes often function as the balancing element in local budgets.

ADVANCE REFUNDING
A procedure whereby outstanding bonds are refinanced by the proceeds of a new bond issue more than 90 days prior to the date on which outstanding bonds become due or are callable. Generally, either the entire outstanding issue is refunded (full re funding) or only the callable bond s are refunded (partial refunding).

Typically an advance refunding is performed to take advantage of interest rates that are significantly lower than those associated with the original bond issue. At time, however, an advance refunding is performed to remove restrictive language or debt service reserve requirement s required by the original issue. Tax-exempt advance refunding bonds are prohibited after December 31, 2017, per changes in the tax code. Taxable bonds must be issued to advance refund tax-exempt bonds without op tional redemption date more than 90 days after the proceeds of the taxable bonds are available. (See also “CURRENT REFUNDING”)

AMORTIZATION
The planned reduction of a debt obligation according to a stated maturity or redemption schedule.

ARBITRAGE
The gain that may be obtained by borrowing funds at a lower (often tax- exempt) rate and investing the proceeds at higher (often taxable) rates. The ab ility to earn arbitrage by issuing tax-e xempt securities has been severely curtailed by the Tax Reform Act of 1986, as amended.

ASSESSED VALUATION
The appraised worth of property as set by a taxing authority through assessments for purposes of ad valorem taxation. The method of establishing assessed valuation varies from state to state, with the method generally specified by state law. For example, in certain jurisdictions the assessed evaluation is equal to the full or market value of the property; in other jurisd ictions the assessed valuation is equal to a percentage of the full market value.

ASSESSMENT BONDS
Bonds issued to develop facilities and basic infrastructu re for the benefit of specific properties within the assessment district which directly benefit from the fac ilities. The key consideration here is the “direct and special benefit” to be received by the property subject to the assessment. Voter approval is not required.

Instead, a majority vote of the property owners with a majority of assessments is needed to authorize the issue.

The issuer's recourse for nonpayment is foreclosure. This type of bond is normally not rated. The bonds may be issued under the provisions of the various assessment bond acts of the State, whichever is most appropriate. (See also “Special Tax Bond” for a description of bonds issued pursuant to the Mello-Roos Act.)

BALLOON MATURITY
A maturity within a serial issue of securities which contains a disproportionately large percentage of the principal amount of the original issue. A balloon maturity is generally distinguished from a term bond by the fact that a term bond generally has the benefit of a sinking fund to smooth out the amount of principal paid from any 108
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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 single year's operations. A balloon maturity increases the likelihood that the jurisdiction will need to refinance the securities for an extended period of time upon their initial maturity.

BASIS POINT
One one-hundredth of one percent (0.0001).

BOND
A security that represents an obligation to pay a specif ied amount of money on a specific date in the future, typically with periodic interest payments.

BOND ANTICIPATION NOTES
Notes issued to provide temporary financing, to be repaid from the proceeds of a subsequent long-term financing.

BOND COUNSEL
An attorney (or firm of attorneys) retained by the issuer to give a legal opinion concerning the validity of the securities. The bond counsel's opinion usually addresses the subject of tax exemption. Bond counsel may prepare, or review and advise the issuer regarding au thorizing resolutions or ordinances, trust indentures, official statements, validation proceedings and litigation.

BOND INSURANCE
Bond insurance is a type of credit enhancement whereby a monoline insurance company indemnifies an investor against default by the issuer. In the event of a fa ilure by the issuer to pay principal and interest in full and on time, investors may call upon the insurance company to do so. Once assigned, the municipal bond insurance policy generally is irrevocable. The insurance company receives an up-front fee, or premium, when the policy is issued.

BOOK-ENTRY-ONLY
Bonds that are issued in fully registered form but without certificates of ownership. The ownership interest of each actual purchaser is recorded on computer.

CALIFORNIA DEBT AND INVESTMENT ADVISORY COMMISSION (CDIAC) The CDIAC website provides information, education, an d technical assistance on debt issuance and public fund investments to local public agencies and other public finance professionals. CDIAC was created to serve as the state’s clearinghouse for public debt issuance information and to assist state and local agencies with the monitoring, issuance, and management of public debt. CDIAC is the website the Annual Debt Transparency Report (ADTR) must be submitted to.

CALL OPTION
The right to redeem a bond prior to its stated maturity, either on a given date or continuously. The call option is also referred to as the optional redemption provisi on. Often a "call premium" is added to the call option as compensation to the holders of the earliest bonds call ed. Generally, the earliest callable bonds called carry a 102% premium, the next earliest, a 101 % premium, and the balance of the bonds are called at par value.

CAPITAL APPRECIATION BOND
A bond without current interest coupons that is sold at a substantial discount from par. Investors are provided with a return based upon the accretion of value in the bond through maturity. (see zero coupon bond)

CAPITAL LEASE
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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 The acquisition of a capital asset over time rather than merely paying a rental fee for temporary use. A lease-purchase agreement, in which provision is made for transfer of ownership of the property for a nominal price at the scheduled termination of the lease, is referred to as a capital lease.

CERTIFICATES OF PARTICIPATION
A lease agreement with another party (a lessor, such as a joint powers authority) to lease an asset over a defined period of time at a prearranged annual payment. Voter approval is generally not required. Lease payments are made primarily from general fund revenues. Current law requires the lessee to make lease payments only if the City has beneficial use of the facility to be leased. The legislative body ha s to appropriate annual debt service payments. For the security of the bondholders, a reserv e fund is normally established and held by a trustee until all bonds are paid. Interest during project construction must be capitalized. An "asset transfer" structure, whereby an existing facility is used as security to finance construction or acquisition of another project, may be used for flexibility. Sometimes this structure is styled as a “lease revenue bond,” which is functionally the same as Certificates of Participation.

COMMERCIAL PAPER (TAX-EXEMPT)
By convention, short-term, unsecured promissory notes issued in either registered or bearer form with a stated maturity of 270 days or less.

COMPETITIVE SALE
Sales of securities in which the securities are awarded to the bidder who offers to purchase the issue at the best price or lowest cost.

CONDUIT FINANCING
The issuance of securities by a governmental entity to finance a project that will primarily benefit a third party, typically a private corporation. The security for this type of financing is usually the credit of the private entity, rather than the governmental unit. Us ually such securities do not constitu te general obligations of the issuer since the private entity is liable for generating the pledged revenues for repayment. Industrial development bonds are a common type of conduit financing.

CONTINUING DISCLOSURE
The requirement by the Securities and Exchange Commission for most issuers of municipal debt to provide current financial information to the informational repositories for access by the general marketplace. Generally, SEC Rule 15c2-12 requires issuers of municipal securities and certain other “obligated persons” to make contractual promises to provide continuing information to the marketplace during the life of securities issues.

Under the rule, an underwriter is not permitted to purcha se or sell municipal securities in connection with a primary offering of $1.0 million or more unless it has entered into such a contractual arrangement with the issuer of the securities for the benefit of the holders of the securities.

In conduit issues, the obligation to maintain continuing disclosure efforts should be imposed on the project sponsors.

COUPON RATE
The interest rate on specific maturities of a bond issue. While the term "coupon' derives from the days when virtually all municipal bonds were in bearer form with coupons attached, th e term is still frequently used to refer to the interest rate on different maturities of bonds in registered form.

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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

CURRENT REFUNDING
A procedure whereby outstanding bonds are refinanced by the proceeds of a new bond issue within 90 days of the date on which outstanding bonds become due or are callable. Generally, either the entire outstanding issue is refunded (full refunding) or onl y the callable bonds are refunded (partial refunding). Typically a current refunding is performed to take advantage of interest rates that are significantly lower than those associated with the original bond issue. At times, however, a current refunding is performed to remove restrictive language or debt service reserve requirements required by the original issue. (See also “ADVANCE REFUNDING”)

CUSIP NUMBER
The term CUSIP is an acronym for the Committee on Uniform Securities Identification Procedures. An identification number is assigned to each maturity of an issue, and is usually printed on the face of each individual certificate of the issue. The CUSIP numbers are intended to help facilitate the identification and clearance of municipal securities. As the municipal market has evolved, and new derivative products are devised, the importance of the CUSIP system for identification purposes has increased.

DEBT BURDEN
The ratio of outstanding tax-supported debt to the market value of property within a jurisdiction. The overall debt burden includes a jurisdiction's proportionate share of overlapping debt as well as the municipality's direct net debt.

DEBT LIMITATION
The maximum amount of debt that is legally permitted by a jurisdiction's charter, constitution, or statutory requirements.

DEBT SERVICE
The amount necessary to pay principal and interest requirements on outstanding bonds for a given year or series of years.

DEBT SERVICE RESERVE FUND
The fund into which moneys are placed which may be used to pay debt service if pledged revenues are insufficient to satisfy the debt service requirements. The debt service reserve fund may be entirely funded with bond proceeds, or it may only be partly funded at the time of the issuance and allowed to reach its full funding requirement over time, due to the accumulation of pledged revenues. If the debt service reserve fund is used in whole or part to pay debt service, the issuer usually is required to replenish the funds from the first available funds or revenues. A typical reserve requirement might be the maximum aggregate annual debt service for any year remaining until the bonds reach maturity. The size of the reserve fund, and the manner in which it is invested, may be subject to arbitrage regulations.

DEBT SERVICE RESERVE FUND SURETY
A form of insurance provided by a bond insurer to sa tisfy a reserve fund require ment for a bond issuance.

Under this arrangement, instead of depositing cash in a reserve fund the City would buy a surety policy by paying a one time premium equal to a percentage of the fair value of policy.

DEFAULT
The failure to pay principal or interest in full or on time. An actual default should be distinguished from technical default. The latter refers to a failure by an issuer to abide by certain covenants but does not necessarily result in a failure to pay principal or interest when due.

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January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

DEFEASANCE
Providing for payment of principal of premium, if any, and interest on debt through the first call date or scheduled principal maturity in accordance with the te rms and requirements of the instrument pursuant to which the debt was issued. A legal defe asance usually involves establishing an irrevocable escrow funded with only cash and US. government obligations.

DEPOSITORY TRUST COMPANY (DTC)
A limited purpose trust company organized under the New York Banking Law. DTC facilitates the settlement of transactions in municipal securities.

DERIVATIVES
Financial products whose value is derived from the value of an underlying asset, reference rate, or index.

Typically these agreements are contracts between a lend er/investor and a borrower and include interest rate swaps, caps, floors, collars, and forward purchase agreements.

DISCOUNT
The difference between a bond's par value and the price for which it is sold when the latter is less than par.

ELECTRONIC MUNICIPAL MARKET ACCESS SYSTEM (EMMA)
Managed by the MSRB the EMMA webs ite was established to increase the transparency of the municipal securities market by providing free public access to municipal securities disclosures and data. EMMA provides investors, state and local governments and other market participants with key information and tools to put that information into context. EMMA is the location where all municipal issuers are to post or publish continuing disclosure information.

ENTERPRISE ACTIVITY
A revenue-generating project or business. The project often provides funds necessary to pay debt service on securities issued to finance the facility. The debts of su ch projects are self-liquidating when the projects earn sufficient monies to cover all debt service and other requirements imposed under the bond contract. Common examples include water and sewer treatment facilities and utility facilities.

MUNICIPAL ADVISOR
A consultant who advises an issuer on matters pertinent to a debt issue, such as structure, sizing, timing, marketing, pricing, terms, and bond ratings. A municipa l advisor has a fiduciary duty to protect the financial interest of the City.

FITCH INVESTORS SERVICE
A financial services company, founde d in 1913, which provides investors with an independent assessment of the credit worthiness of debt obligations.

FINAL OFFICIAL STATEMENT (FOS)
A document published by the issuer that generally discloses material information on a new issue of municipal securities including the purposes of the issue, how the securities will be repaid, and the financial, economic and social characteristics of the issuing government. Investors may use this information to evaluate the credit quality of the securities. (See also Official Statement)

FLOW OF FUNDS
The order in which pledged revenues must be disbursed, as set forth in the trust indenture or bond resolution.

In most instances, the pledged revenues are deposited into a general collection account or revenue fund as they 112
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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 are received and subsequently transferred into the other accounts established by the bond resolution or trust indenture. The other accounts provide for payment of the costs of debt service, debt service reserve deposits, operation and maintenance costs, renewal and replacement, and other requirements.

GENERAL OBLIGATION BONDS
Bonds backed by the full faith and credit of the City. The taxing power is an unlimited ad valorem tax, usually on real estate and personal property. A special rate is incorporated in the property tax bill annually to pay for debt service. A two-thirds voter approval is required fo r authorization. Because it is secured by an unlimited tax levy, this structure has strong marketability and lower interest costs.

GENERAL OBLIGATION DEBT
Debt that is secured by a pledge of the ad valorem taxing power of the issuer. Also known as a full faith and credit obligation.

INDENTURE
A contract between the issuer and a trustee stipulating the characteristics of the financial instrument, the issuer's obligation to pay debt service, and the remedies available to the trustee in the event of a default.

INVESTMENT GRADE
The broad designation given bonds which have a high probability of being paid, and minor, if any, speculative features. Bonds rated “BBB” or higher by Standard & Poor’s Corporation, “Baa” or higher by Moody’s Investor’s Service, and “BBB” or higher by Fitch IBCA Rating Service ar e deemed by those agencies to be “investment grade.”

ISSUANCE COSTS
The costs incurred by the bond issuer during the planni ng and sale of securities. These costs include but are not limited to municipal advisory, disclosure counsel and bond counsel fees, printing and advertising costs, rating agency fees, and other expenses incurred in the marketing of an issue.

ISSUER COUNSEL
An attorney engaged by the issuer to represent its best interest in a debt transaction. Often this role is performed by bond counsel, however, at times separate counsel is engaged that does not have responsibility to issue the bond opinion as well as represent the issuer’s best interests.

JUNIOR LIEN BONDS
Bonds that have a subordinate claim against pledged revenues.

LEASE
An obligation wherein a lessee agrees to make payments to a lessor in exchange for the use of certain property.

The term may refer to a capital lease or to an operating lease.

LEASE REVENUE BONDS
Bonds that are secured by an obligation of one party to make annual lease payments to another for use and occupancy of an asset.

LESSEE
The party to a lease agreement that obtains use of a fa cility or piece of equipmen t on exchange for rental payments.

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DEBT MANAGEMENT POLICY

Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 LESSOR
The owner of the property being leased.

LETTER OF CREDIT
Bank credit facility whereby a bank w ill honor the payment of an issuer's de bt, in the event that an issuer is unable to do so, thereby providing an additional source of security for bondholders for a predetermined period of time. A letter of credit often is referred to as an L/C or an LOC. Letter of Credit can be issued on a "stand-by" or "direct pay" basis.

LINE OF CREDIT
Bank credit facility wherein the bank agrees to lend up to a maximum amount of funds at some date in the future in return for a commitment fee.

MANAGER
The member (or members) of an underwriting syndicate -charged with the primary responsibility for conducting the affairs of the syndicate. The managers take the largest underwriting commitment.

UNDERWRITER
The underwriter serving as head of the syndicate. The lead Manager generally handles negotiations in a negotiated underwriting of a new issue of municipal securities or directs the process by which a bid is determined for a competitive underwriting. The lead Manager also is charged with allocating securities among the members of the syndicate in accordance with the terms of the syndicate agreement or agreement among underwriters.

UNDERWRITING GROUP
Any member of the management group.

MASTER LEASE AGREEMENTS
A lease agreement with a provider to lease equipment or facilities whose useful life is too short, or whose cost is too small to finance with conventional long-term debt. Various pieces and types of real and personal property from different vendors over a period of time can be acquired under one master lease agreement. Interest can be fixed or tied to an index. Financing costs are norma lly minimal, but the interest cost may be higher than with other instruments.

MARKS-ROOS BONDS
Bonds issued by a joint powers authority to buy other bond issues. By pooling bond issues, marketability can be improved and administration costs are reduced. Ofte n used in the case of a negotiated sale of successor agency debt in order to avoid the competitive sale requirements for such debt.

MOODY'S INVESTORS SERVICE, INC.

A financial service company, a subsidiary of Dun & Bradstreet Corp. has provided ratings for municipal securities and other financial information to investors since 1918.

MUNICIPAL SECURITIES RULEMAKING BOARD (MSRB)
A self-regulating organization established on September 5, 1975 whose mission is to protect investors, state and local governments and other municipal entities, and th e public interest by promoting a fair and efficient municipal securities market. The MSRB fulfills this mission by regulating the municipal securities firms, banks and municipal advisors that engage in municipal securiti es and advisory activities. To further protect market participants, the MSRB provides market transparency through its the EMMA website. 114
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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

NEGOTIATED SALE
A sale of securities in which the terms of sale are determined through negotiation between the issuer and the purchaser, typically an underwriter, without competitive bidding

NET INTEREST COST (NIC)
The average interest cost of a bond issue calculated on the basis of simple interest. This calculation involves a fraction in which the numerator is the gross amount of interest to be paid over the bonds' life (adjusted for the amount of discount or premium granted at the time of sale), and the denominator is the average life of the bond issue multiplied by the issue's par value.

NOTE
A written promise to pay a certain amount of money on a specific date, with interest. By convention, the maturity of a note is one year or less, making it short-term debt. However, financial instruments with a longer stated maturity sometimes are called Notes. For example, a bond anticipation note can have maturities of two years or longer.

OFFICIAL STATEMENT (OS)
A document published by the issuer that generally discloses material information on a new issue of municipal securities including the purposes of the issue, how the securities will be repaid, and the financial, economic and social characteristics of the issuing government. Investors may use this information to evaluate the credit quality of the securities. (See also Final Official Statement)

OPERATING LEASE
A lease that enables the lessee to acquire the use of an asset only, not its ownership as in a capital lease. The lease term typically runs for only a portion of the asset's useful life.

ORIGINAL ISSUE DISCOUNT BONDS
Bonds which are sold at a substantial discount from their par value at the time of the original sale.

OVERLAPPING DEBT
The legal jurisdictions of local governments often overlap one another. In some cases, one unit of government is located entirely within the boundaries of another. Overlapping debt represents the proportionate share of debt that must be borne by one unit of government because another government with overlapping or underlying taxing authority issued its own bonds.

PAR VALUE
The face value or principal amount of a security.

PAYING AGENT
An agent of the issuer with responsibility for timely payment of principal and interest to bond holders.

PRELIMINARY OFFICIAL STATEMENT (POS)
The POS is a preliminary version of the official statement that is used by an issuer or underwriters to describe the proposed issue of municipal securities prior to the determination of the interest rate(s) and offering price(s).

The preliminary official statement, also called a "red herring,” often is examined upon by potential purchasers prior to making an investment decision.

PREMIUM
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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 The excess of the price at which a bond is sold over its face value.

PRESENT VALUE
The value of a future amount or stream of revenues or expenditures in current dollars.

PRIVATE ACTIVITY BONDS
A bond where the use of bond proceeds is used for priv ate purposes. If deemed a private activity bond, the interest is not tax exempt unless the use of the procee ds meets certain requirements of the Internal Revenue Code.

PUT OPTION
The right to demand repayment of principal prior to a bond 's maturity. In the case of short-term variable rate debt, this right often is referred to as a variable-rate demand option.

REFUNDING
A procedure whereby an issuer refinances an outstanding bond issue by issuing new bonds.

REGISTERED BOND
A security on which the ownership is recorded by the issuer or its agent.

RESERVE FUND
A fund established by the indenture of a bond issue into which money is deposited for payment of debt service in case of a shortfall in current revenues.

REVENUE BONDS
Bonds secured by revenues generated by the facility that is financed or by dedicated user fees. Voter approval may or may not be required. Planning is more complex because costs and revenues affect each other. Credit enhancement (e.g., insurance, or letter of credit) may be needed because of the limited source of debt service payment.

SECONDARY MARKET
The market in which bonds are sold after their initial sale in the new issue market.

SENIOR LIEN BONDS
Bonds having a prior, or first claim on pledged revenues.

SERIAL BONDS
A bond issue in which the principal is repaid in periodic installments over the issue's life.

SOPHISTICATED INVESTOR
A purchaser of bonds, who is considered knowledgeable about the pricing and risk factors associated with the repayment of bonds. This type of investor usually purchases bonds in large dollar amounts, typically $100,000 or more.

SPECIAL ASSESSMENTS
A charge imposed against property or parcel of land that receives a special benefit by virtue of some public improvement that is not, or cannot be enjoyed by the pu blic at large. Special assessment debt issues are those that finance such improvements and are repaid by the assessments charged to the benefiting property owners.

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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

STANDARD & POOR'S CORPORATION (S&P)
A financial service company, a subsidiary of S&P Glob al, Inc. -Company. S&P provides ratings for municipal securities and other financial information to investors.

TAX ALLOCATION BONDS
Bonds secured by property tax increment (property taxes generated on assessed value in excess of the frozen property tax base) in a redevelopment project area. These bonds are issued to promote economic development.

Voter approval is not required.

TAX INCREMENT
Property tax revenues derived from the incremental a ssessed value increases from the redevelopment project area’s frozen tax base.

TERM BONDS
A bond issue in which the entire principal matures on one date. Term bonds also refer to a particularly large maturity of a bond issue that is created by aggregating a series of maturities. In the latter instance, provision is made for mandatory structuring fund installments in advance of the term bond's maturity to reduce the burden of a particular large debt service payment in any one fiscal year.

TRUE INTEREST COST (TIC)
An expression of the average interest cost in present va lue terms. The true interest cost is a more accurate measurement of the bond issue's effective interest cost and should be used to ascertain the best bid in a competitive sale.

UNDERWRITER'S COUNSEL
An attorney engaged by the underwri ter(s) to represent its interests in a debt transaction. Generally underwriter's counsel prepares the bond purchase agreement between the issuer and the underwriter and, when more than one underwriter is involved, the agreement among underwriters.

VARIABLE RATE BOND
A bond on which the interest rate is reset periodically, usually no less often than semi-annually. The interest rate is reset either by means of an auction or through an index.

VENDOR LEASES
A vendor of equipment acts as the lessor and investor, and holds the lease for its fu ll term or may assign the lease. The motivating factor to the vendor is usually to encourage future sales of its product.

YIELD CURVE
A graph that plots the market yields on securities with different maturities, at a given point in time. The vertical axis represents the yields, while the horizontal axis depicts the time to maturity. The term structure of interest rates, as reflected by the yield curve, will vary according to market conditions, resulting in a wide variety of yield curve configurations.

YIELD-TO-MATURITY
The rate of return that an investor will receive if the bond remains outstanding and the investor holds the bond to maturity. The investor must take into account the price paid for the bonds, the dates of purchase and maturity, and the coupon rate on the bonds. The "yield to maturity" assumes that interest payments will be re-invested at the same coupon rate borne by the bond.

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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

ZERO COUPON
A bond which does not pay interest periodically. Investors receive interest on the scheduled principal maturity date of the obligation.
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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

APPENDIX B: FORM OF FINANCING ASSISTANCE APPLICATION FOR CONDUIT DEBT

I. PROPOSED OWNER OF THE PROJECT

A. Official Company Name:__________________________________________________________

DBAs (if applicable): _____________________________________________________________

Official Mailing Address:___________________________________________________________

______________________________________________________________________________

Telephone:______________________ Fax:____________________________

Company Headquarters and address of primary operating location in

California:______________________________________________________________________

B. Form of Ownership: Co rporation ____________________________

Partnership:_________________ Sole Proprietorship________________________

Other (describe)__________________________________________________________

Is the proposed owner a subsidiary or affiliated directly or indirectly with any other organization? ___ If so, indicate relationship and name of related organization:
________________________________

If corporation, indicate state of incorporation:_____________________ and date qualified to do business in California (if incorporated elsewhere):_______________________

C. Officers Names & Home Address Other Business Affiliations

President ___________________________ ________________________________

___________________________ ________________________________

Vice President ___________________________ ________________________________ (Finance)
___________________________ ________________________________ 119
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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

Secretary ___________________________ ________________________________

Directors ___________________________ ________________________________

___________________________ ________________________________

D. List name and home address of equity owners of 10% or more. If publicly held, indicate stock exchange traded on. If partnership, list General and Limited Partners and interest owned by each. If trust, list beneficiaries.

% of Equity
Name Home Addre ss Interest Owned

_______________________ ______________________________ __________________

E. Name, business address, and phone number of officer to whom all notices and communications concerning the project should be sent:

F. Principal Bank(s) of Account with name and phone number of contact person:

Name:___________________________ Contact:________________________________

Address:_______________________________________________________________________

Telephone:_______________________

Name:___________________________ Contact:________________________________

Address:_______________________________________________________________________

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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

Telephone:_______________________

G. Counsel to Applicant:

Name:_________________________________________________________________________

Address:_______________________________________________________________________

Telephone:___________________________ Fax:_____________________________

H. Bond Counsel on proposed project:

Name:_________________________________________________________________________

Address:_______________________________________________________________________

Telephone:___________________________ Fax:_____________________________

I. Investment Banker for proposed project:

Name:_________________________________________________________________________

Address:_______________________________________________________________________

Telephone:________________________ ___ Fax:_____________________________

J. Company History

List past tax-exempt financing transactions:

______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________

Have any of these projects ever been in default? ________Yes ________No

If yes, please provide particulars:

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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ K. Is the firm or any of its principals currently or in the past 10 years been engaged in any litigation involving financing of the type and nature of that being proposed to the City. _____Yes _____No.

If yes, please provide the names of the principals and details of the litigation. Use additional pages if necessary.
______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________

II. PROPOSED PROJECT

A. Give brief narrative explanation why project is being undertaken.

B. Narrative Description, including renderings if available of proposed project.

C. Proposed facilities to be constructed with bond proceeds (describe).

D. Does applicant now own the site of the proposed facility?_________ If not, has applicant entered into an option or commitment or other agreement to purchase it?

E. Estimated useful life of buildings, equipment, or off-site improvements.

F. Does the proposed project involve, in whole or in part, any of the following: residential real property; sports facilities; commercial prop erty; health care facilities; manu facturing facilities; entertainment facilities; or industrial land development activities? Yes_____ No_____ If yes, please explain.

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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

Start construction:_________________ Co mplete construction:_____________________

III. COST OF THE PROJECT

State the costs reasonably necessary to the acquisition or construction of the proposed project together with any machinery and equipment necessary or convenient in connection therewith, and including any utilities, access roads or apportionment facilities;

A. Land and Facilities $___________________________

B. Architectural and Engineer ing $___________________________

C. Construction Costs: $___________________________

D. Interest during constructi on: $___________________________

E. Financing, legal, miscellaneous
(from ______ to ______) $___________________________
(please specify)

F. Contingency (if appropriat e) $___________________________

TOTAL $___________________________

IV. SIGNIFICANT PUBLIC BENEFITS

Please furnish a description of the significant public be nefits that will arise from the issuance of bonds in the maximum amount proposed in the application.

A. Employment creation/displacement – will the completion of the project contribute to job creation? Explain.

B. Energy, mineral or natural or cultivated resource conservation – will the completion of the project lead to increased utilization of resources:

1. Estimate of increased utilization of resources.

2. Estimate of increases in cost to the public due to increased utilization.

C. Does construction of the project, or completion of the project, have any adverse environmental impacts, including additional waste disposal?

1. Estimate of the environmental impacts.

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I. Scope
A. This policy will apply to the following funds and entities:

1. The City of Moreno Valley
a. General Fund
b. Moreno Valley Utilities

2. Moreno Valley Community Facility Districts (CFD)

3. Moreno Valley Community Services District (CSD)

F. The City will seek to structure debt with level principal and interest costs over the life of the debt.

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O. Conduit debt is debt issued by a governme nt for the express purpose of providing capital financing for a third party that is not part of the issuing government’s financial reporting entity.

These obligations may bear the name of the City but are not legal obligations of the City.

III. Purposes and Uses of Debt

A. Capital Financing – In General

3. The City will evaluate the use of debt in -lieu of “pay-as-you-go” financing on the basis of the following criteria:

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C. General Obligation Debt

1. General obligation bonds provide the lowest borrowing costs for major public assets.

Accordingly, the general obligation bond is more properly described as an “unlimited tax” bond.

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IV. “No Commitment” and Conduit Debt

A. City as Issuer of “No-Commitment Debt” or Conduit Debt

B. Significant Public Benefit Test for Conduit Debt

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4. The City will require a financial pro form a and business plan for any project to be financed with the proceeds of a conduit issue. The City will impose a fee for acting as a conduit issuer of securities as shown in Appendix B hereto. The City will require an initial deposit ofincrease to $40,000 to reflect current 202 63 costs for any entity seeking financing through the City as a conduit, which will be held by the City, and which the City may require additional deposits to, from time to time. The City’s fees and costs will be charged against the init ial or subsequent de posits, and any excess remaining at the time of issuance of the debt, or the abandonment of the project, whichever is applicable, will be refunded to the applicant.

C. Credit Quality of Conduit Debt

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V. Creditworthiness Objectives

A. Credit Ratings

B. Financial Disclosure, Initial and Continuing

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VI. Debt Standards and Structure

B. Debt Structure

3. The City will not issue debt that commences principal payment beyond the fiscal year in which the financed asset is completed or is substantially available to the City. 131
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C. Amortization

Examples could include leases that are junior in payment obligation to senior leases.

F. Non-Traditional Financial Products: The City will consider the use of non-traditional financial products on a case by case basis and consistent with state law and financial prudence.

G. Tax-Exempt vs. Taxable Bonds: The City generally seeks to issue debt at the lowest total cost.

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H. Refunding

VII. Debt Administration and Process

A. All Debt to be Reviewed by City’s Debt Management Team

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B. Investment of Bond Proceeds

C. Costs and Fees

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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

D. Method of Sale

VIII. Underwriters, Consultants and Counsel

A. Underwriters

Upon completion of the underwriter’s engagement, the City has the option of making a new arrangement with any existing underwriter.

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DEBT MANAGEMENT POLICY

E. Municipal Advisor

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DEBT MANAGEMENT POLICY

G. Compensation for Services: Compensation for bond counsel, underwriter's counsel, municipalfinancial advisors, and other financial service providers will be consistent with industry standards.

IX. Continuing Disclosure
A. Background

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3. In a timely manner within 10 business days of occurrence, notice of the occurrence of one or more of the listed events described in the Rule (a “Rule 15c2-12 Event Notice”).

A. Listed Events

1. Principal and interest payment delinquencies

2. Non-payment related defaults

3. Unscheduled draws on debt service reserves reflecting financial difficulties

4. Unscheduled draws on credit enhancements reflecting financial difficulties

5. Adverse tax opinions, IRS notices or material events affecting the tax status of the security

6. Modifications of rights of security holders (if material)

7. Bond calls (if material)
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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26

8. Defeasances

9. Release, substitution or sale of prope rty securing repayment of the securities (if material)

10. Rating changes

11. Tender offers

12. Bankruptcy, insolvency, receivership or similar event of the obligated person

13. Merger, consolidation, or acquisition of the obligated person (if material)

14. Appointment of a successor or additional trustee, or the change of name of a trustee (if material)

15. Substitution of credit or liquidity providers, or their failure to perform

16. Incurrence of financial obligation (if material)

18. Other voluntary disclosure as listed in the Rule

B. Familiarity with EMMA Submission Process

2. The Responsible Party also shall enroll the Moreno Valley Issuers in EMMA’s reminder system to ensure timely performance of their responsibilities and obligations.

C. California Debt and Investment Advisory Commission (CDIAC)

2. CDIAC has developed the Annual Debt Transparency Report (ADTR) and an online reporting portal to assist issuers in meeting this requirement.

Debt authority that has lapsed during the reporting period

b. Debt outstanding during the reporting period which will include:
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5. To facilitate and ensure consistency in reporting, CDIAC has developed the Yearly Fiscal Status Report (YFSR).

D. Training Efforts

To ensure adequate resources to comply with the Rule, the Responsible Party shall develop a training process aimed at providing additional assistance in preparing required information.

The training process shall be conducted at least annually and shall encompass a review of the EMMA submission process and an understandi ng of the timing requirements necessary for full compliance.

E. Coordination Effort

The Responsible Party shall coordinate the preparation and submission of the required information with the Municipal Advisor,. Special Tax Consultant and corporate trustees and paying agents to ensure full compliance with the requirements of the Rule and the Continuing Disclosure Undertakings.

F. Records Retention

G. Investor Communication

While the City shall post its annual financia l report as well as other financial reports on the City’s website, this information is intended fo r the citizens of the City of Moreno Valley.

Information with the intention of reaching the investing public, including bondholders, rating 140
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H. Responsible Party; Maintenance of List and Files

I. Annual Information Filing Requirements

J. Audited Financial Statements

K. Notices of Failures to File

L. Preparation

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3. The Responsible Party shall set calendar reminders in the City Finance Department’s recordkeeping systems.

II. Other Policies

C. Internal Borrowings

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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 D. Issuance Tax Compliance

2. General

3. Tax Compliance Requirements

a. External Advisors / Documentation

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Approved by: City Council & MVPFA
January 28, 2014
Revised: 2/7/17, 3/19/19, 4/21/20, 5/18/21, 6/20/23, 5/21/24, 5/19/26 b. Role of the City

c. Arbitrage Rebate and Yield

i. Unless a Tax Certificate document s that bond counsel has advised that arbitrage rebate will not be applicable to an issue of Bonds:

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Moreno Valley City CouncilMay 19, 2026

Moreno Valley City Council
May 19, 2026