Agenda packet — Pittsburg City Council, August 17, 2026 (part 1 of 4)

CITY OF PITTSBURG

AMENDED AGENDA
AUGUST 17, 2026

CITY HALL COUNCIL CHAMBER
65 CIVIC AVENUE, PITTSBURG, CA

REGULAR MEETING
7:00 PM

CITY COUNCIL

HOUSING AUTHORITY

PITTSBURG ARTS AND COMMUNITY FOUNDATION

PITTSBURG FINANCING AUTHORITY

PITTSBURG POWER COMPANY

SOUTHWEST PITTSBURG GEOLOGIC HAZARD ABATEMENT DISTRICT II

SUCCESSOR AGENCY

PRESIDING
Mayor/Chair • Dionne Adams
Vice-Mayor/Chair • Angelica Lopez
Council Member/Board Member • Juan Antonio Banales
Council Member/Board Member • Arlene Kobata
Council Member/Board Member • Jelani Killings

FOR HOUSING AUTHORITY
Housing Authority Member • S.L. Floyd
Housing Authority Member • Annie Hill Herring

Pittsburg City Council regular meetings are held the first and third Mondays of each month at 7:00 p.m. The Housing Authority meets in conjunction with the City Council on the third Monday of each month. The City Council also sits as the Board of Directors of several other City agencies.

Remote participation for Council meetings will be available via Zoom:
• Webinar ID: 898 0554 4017
• By phone: (669) 900-6833

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7:00 PM - CONVENE IN OPEN SESSION FOR REGULAR MEETING

CALL TO ORDER

ROLL CALL

PLEDGE OF ALLEGIANCE

HOUSING AUTHORITY

HOUSING AUTHORITY PUBLIC HEARING

1. Adoption of a Housing Authority Resolution Approving the Public Housing Agency Administrative Plan for 2026 and Directing the Executive Director to Submit the Public Housing Agency Administrative Plan for 2026 to the U.S.

Department of Housing and Urban Development

As required compliance by the U.S. Department of Housing and Urban Development (HUD), the Housing Authority of the City of Pittsburg (Housing Authority) has revised its Administrative Plan to incorporate significant modifications or amendments to policies that address the delivery of housing services in the community (Administrative Plan for 2026). The Administrative Plan outlines the policies and procedures of the Housing Authority.

HOUSING AUTHORITY CONSENT CALENDAR

2. Minutes of July 20, 2026

3. Adoption of a Housing Authority Resolution Approving the Section 8 Management Assessment Program Certification for Fiscal Year Ending June 30, 2026

As required for compliance with the U.S. Department of Housing and Urban Development (HUD), the Housing Authority of the City of Pittsburg (Housing Authority) has prepared the Section 8 Management Assessment Program (SEMAP) Certification for submission for the fiscal year ending June 30, 2026.

HOUSING AUTHORITY MEMBER REMARKS

ADJOURNMENT OF THE HOUSING AUTHORITY

CITY COUNCIL

PROCLAMATIONS
The standing proclamation(s) were published as part of the agenda. The proclamation(s) will be posted on the City's website and social media accounts as appropriate.

4. Th!nk Pittsburg - Nivagen

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PUBLIC COMMENTS
Members of the audience who wish to address the City Council or Agency Boards on issues that are not scheduled for the agenda and on any items listed as part of the Consent Calendar should complete a Speaker's Card available at the dais.

Please read the card carefully in order to fill out the card properly. Submit the completed card to the City Clerk before the item is called, preferably before the meeting begins. Individuals will be given three minutes to address the Council unless additional time is allowed as provided for spokespersons. Prior to speaking, each member of the public shall state their name and business and City of residence in a clear and audible tone of voice. (No Action Required)

COMMITTEE REPORTS
Council Members may make a report on their committee assignments at this time. (see attached list of adhoc committees and other public agencies in which Council members participate). (No Action Required)

PITTSBURG POWER COMPANY PUBLIC HEARING

5. Adoption of Pittsburg Power Company Resolution Approving Island Energy’s Fiscal Year 2026-2027 Proposed Utility Rates for Electricity and Natural Gas Retail Services on Mare Island

Pittsburg Power Company (PPC), a Joint Powers Authority, provides utility retail electric and natural gas services on Mare Island, Vallejo, doing business as Island Energy (IE). PPC presents its proposed Fiscal Year (FY) 2026-27 utility rates to the Governing Board of the Pittsburg Power Company for approval. If adopted, the updated rates will take effect September 1, 2026.

CITY COUNCIL AND PITTSBURG FINANCING AUTHORITY PUBLIC HEARING

6. Public Hearing and Adoption of Resolutions Authorizing Issuance and Sale of Special Tax Bonds of the City of Pittsburg, for and on behalf of Community Facilities District 2009-01 (San Marco), and Special Tax Revenue Bonds of the City of Pittsburg Public Financing Authority

To generate bond proceeds to pay for capital facilities of the City, including facilities already acquired from the Seeno Companies, the City of Pittsburg (the “City”) proposes to issue $25 million of special tax bonds (”City Bonds”) for and on behalf of its Community Facilities District 2009-01 (San Marco) (the “CFD” or the “District”). Concurrently, the City of Pittsburg Public Financing Authority (the “Authority”) will issue an equivalent $25 million of special tax revenue bonds (“Authority Bonds”) to purchase the City Bonds.

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CONSIDERATION

7. Introduce and Waive First Reading of an Ordinance Adding Chapter 9.19 to the Pittsburg Municipal Code Regulating Open Fires

Staff requests that the City Council introduce and waive the first reading of an Ordinance adding Chapter 9.19, “Open Fires,” to Title 9 of the Pittsburg Municipal Code, establishing rules governing open fires, fire pits, BBQ pits, and bonfires on City par ks and public property in order to reduce fire hazards and protect public health and safety. Staff recommends introduction of the Ordinance at this meeting, with second reading and adoption to follow at a subsequent regular meeting.

8. Adoption of a City Council Resolution Designating a Voting Delegate and an Alternate for the League of California Cities 2026 Annual Conference and Expo

Every year, the League of California Cities (Cal Cities) convenes a member-driven General Assembly during its Annual Conference and Expo.

The General Assembly provides an important opportunity for city officials to directly participate in shaping Cal Cities policies. To take part, the City Council must appoint one voting delegate and may designate up to two alternates.

CONFLICT OF INTEREST STATEMENT
City Council/Agency Members may make any conflict of interest declarations pertaining to Consent Calendar items at this time.

COMBINED CITY COUNCIL, PITTSBURG ARTS AND COMMUNITY

FOUNDATION, PITTSBURG POWER COMPANY, SOUTHWEST PITTSBURG

GHAD II AND SUCCESSOR AGENCY CONSENT CALENDAR

9. Receive and File the Treasurer’s Report for the Quarter Ending June 30, 2026

An Investment Summary Report is provided to the City Council for review for each fiscal quarter. The report includes the combined detailed information of the City and the Successor Agency's (Agency) investments, which are compliant with the City and Agency's Investment Policies. This Treasurer's Report is for fiscal quarter ending June 30, 2026.

10. Adoption by Motion to Approve a Leave of Absence for Planning Commissioner Jennifer Ingram

The City Council will be considering a leave of absence by a Planning Commissioner.

11. Adoption by Motion Directing Review of the City's Conflict of Interest Code

The Political Reform Act (Act) requires every local government agency to review its Conflict of Interest Code biennially to determine if it is accurate or if needs to be amended. A conflict of interest code tells public officials,

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governmental employees, and consultants what financial interests they must disclose on their Statement of Economic Interests (Form 700). Once the determination has been made, a notice must be submitted to the code reviewing body no later than October 1 of even-numbered years.

12. Adoption of a City Council Resolution Authorizing an Agreement with TJKM Transportation Consultants for the Design of Project 2037 – Harbor Street Safety Improvements

Project 2037-Harbor Street Safety Improvements (Project) will improve Harbor Street by installing streetlights, improving traffic signal hardware and upgrading pedestrian crossings with enhanced safety features from Buchanan Road to East 3rd Street. This action authorizes the City Manager to execute a Consulting Services Agreement (Agreement) with TJKM Transportation Consultants for design of the Project.

13. Adoption of a City Council Resolution Authorizing the City Manager to Execute a First Amendment to the Consulting Services Agreement with Raney Planning and Management, Inc. for the Faria Development Project and Amending Fiscal Year 2026-27 Budget

The item would authorize the City Manager to execute a First Amendment to the Consulting Services Agreement with Raney Planning and Management, Inc. for environmental review services to comply with the California Environmental Quality Act (CEQA) for the Faria Development Project, AP-25- 0050, a proposed residential subdivision on a 606-acre site. The City Council authorized the City Manager to execute the original Consulting Services Agreement on April 6, 2026, in Resolution No. 26-14759.

14. Adoption of a Pittsburg Power Company Resolution Approving the 2025 Annual Power Source Disclosure Report to the California Energy Commission

California Public Utilities Code Section 398.1(b) requires all retail suppliers of electricity products to file an annual report with the California Energy Commission (CEC) to disclose the sources or fuel types of power procured and sold to end-use customers. The Pittsburg Power Company (PPC) provides retail electricity service on Mare Island, Vallejo, under the name of Island Energy (IE) and is required by law to disclose the sources of its energy procurement and sales to its end users on Mare Island. The CEC requires the Governing Board of the Pittsburg Power Company to approve its 2025 Annual Power Source Disclosure Report (PSD Report).

15. Adoption of a Pittsburg Power Resolution Authorizing Pittsburg Power Company to Accept a BMO Irrevocable Letter of Credit and its Amendment No. 1 for the Alteration/Installation of Utility Facilities Agreement between PPC and ALCO Iron and Metals

Pittsburg Power Company (PPC) Resolution 26-498 executed the first amendment to the Agreement of Alteration/Installation of Utility Facilities (Agreement) dated December 27, 2022 between PPC and ALCO Iron and

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Metals (ALCO), reducing the original loan amount from $350,000 to $265,000 based on pay back of principal. PPC requested an updated irrevocable Letter of Credit (LOC) from BMO Bank, ALCO’s new banking institution, and amendments to guarantee automatic annual renewal of the LOC for successive periods and an extended expiration date to cover the full repayment period of the loan (Amendment No. 1).

16. Adoption of a City Council Resolution Authorizing the City Manager to Execute an Agreement with Revel Environmental Manufacturing, Inc., for the Maintenance of Citywide Full Trash Capture Devices
The City is required, under Provision C.10 of the National Pollutant Discharge Elimination System (NPDES) Municipal Regional Stormwater Permit, to reduce trash loads originating from medium to very high trash-generating areas. This is achieved through the installation and ongoing maintenance of full trash capture devices at storm drain inlets. This action authorizes the execution of a Consulting Services Agreement (Agreement) with Revel Environmental Manufacturing, Inc. to perform the required annual maintenance for the City’s 418 installed full trash capture devices for Fiscal Year (FY) 2026/27.

17. Adoption of City Council Resolution authorizing the City Manager to execute a Purchase Order with GCS Environmental Equipment for one (1) new 2027 Freightliner M2 / Tymco 600 Street Sweeper for a total amount not to exceed $415,023.27

This action authorizes the scheduled replacement of a critical Public Works street sweeper using a competitively solicited cooperative purchasing contract. City Council approval is necessary to meet the manufacturer’s September 4, 2026 ordering deadline for the 2027 model year.

18. Adoption of a Pittsburg Power Company Resolution Authorizing Island Energy’s Fiscal Year 2026-2027 General Liability and Commercial Auto Insurance Policy Premium Payment

Pittsburg Power Company (PPC), a joint powers agency, provides utility retail electric and natural gas services on Mare Island, Vallejo, under the name of Island Energy (IE). Every year, Island Energy procures independent general liability and commercial auto insurance policies to provide liability coverage to the utility operation on Mare Island. For Fiscal Year (FY) 2026-2027, the annual premium is $391,332.95 for a total of $16,000,000 in aggregated insurance coverage.

COUNCIL REQUEST FOR FUTURE AGENDA ITEMS
Council Members may request items to be considered for future agendas. An item will only be brought forward with a majority vote and will appear on a future agenda with staff recommendations for further Council consideration.

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COUNCIL MEMBER REMARKS
Council Members may make brief announcements or informal comments at this time. (No Action Required)

CITY MANAGER REPORTS/REMARKS
The City Manager may make brief announcements or informal comments at this time and brief the Council on items of interest. (No Action Required)

ADJOURNMENT TO SEPTEMBER 8, 2026

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NOTICE TO PUBLIC

GENERAL INFORMATION
Agenda packets are published at least 72 hours in advance of a meeting on the City’s website at www.pittsburgca.gov and are also available in person in the City Clerk’s Office, 65 Civic Avenue, during normal business hours. If any reports or documents, which are disclosable public records, are distributed to the City Council less than 72 hours before the meeting, those reports or documents will be available for public inspection in the City Clerk’s Office and on the day of the meeting in the Council Chamber at the public counter area below the dais.

SPEAKER’S CARD
Members of the audience who wish to address the City Council should complete a Speaker’s Card available at the dais. Submit the completed card to the City Clerk preferably before the meeting begins or before the item is called .

Individuals may be given up to three minutes to address the Council unless additional time is allowed as provided for spokespersons. Speakers are not permitted to yield their time to another speaker. Pursuant to the Brown Act, no action may be taken by the City Council on items not alre ady on the agenda . However, the City Council may refer your comments/concerns to staff or request that the item be placed on a future agenda.

LIVE MEDIA BROADCASTING
City Council meetings are webcast live on the City’s website at www.pittsburgca.gov on the Agendas and Live Meetings page. Watch the live meeting on the City’s YouTube channel (@CityofPittsburg94565) or via the City’s webcast on Comcast Channel 24 Delta TV, AT&T U-Verse Channel 99 Delta TV.

Remote participation is available via Zoom.
• Webinar ID: 898 0554 4017
• By phone: (669) 900-6833
Remote Oral Public Comment - Speakers are asked to provide their name and city of residence for the record, although providing this is not required for participation. When the item is open for public comment, use the “Raise Hand” feature (or press *9 if connecting via telephone). When called, unmute your microphone and provide your comments.

PUBLIC HEARINGS
Persons who wish to speak on Public Hearings listed on the agenda will be heard when the Public Hearing is opened, except on Public Hearing items previously heard and closed to public comment. After the public has commented, the item is closed to public comment and brought to the Council/Agency level for discussion and action.

Further comment from the audience will not be received unless requested by the Council/Agency. There is a 90-day limit for the filing of a challenge in the Superior Court to certain City administrative decisions and orders which require a hearing by law, the receipt of evidence, and the exercise of discretion. The 90-day limit begins on the date the decision is final (Code of Civil Procedure Section 1094.6). Further, if you challenge an action taken by the City Council in court, you may be limited, by California law, including but not limited to Government Code Section 65009, to raising only those issues you or someone else raised in the public hearing, or in written correspondence delivered to the City Council prior to or at the public hearing.

NOTICE TO THE DISABLED AND VISUALLY OR HEARING IMPAIRED In compliance with the Americans with Disabilities Act, the City of Pittsburg will provide special assistance for disabled participants. Upon request, an agenda for any meeting shall be made available in appropriate alternative formats. The Council Chamber is equipped with sound amplifier units for use by the hearing impaired. The units operate in conjunction with the Chamber’s sound syst em. You may request the sound amplifier from the City Clerk for personal use during Council meetings. If you need special assistance to participate in a meeting, or are requesting a specially formatted agenda, please contact the City Clerk at (925) 252-4850. Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to the meeting or provide the requested agenda format (28 CFR 35.102-35.104 ADA Title II).

TECHNOLOGY DISRUPTION, DECORUM, AND DISRUPTIVE BEHAVIOR The Technology Disruption, Decorum, and Disruptive Behavior policy for City Council Meetings was adopted to comply with S enate Bill 707 ( 2025). Pursuant to the policy, standards of decorum require in -person and remote public participants are to address the City Council as a whole, not individual members or staff; comments must be about the subject matter jurisdiction of the legislative body or agenda item, as applicable. In the e vent of willful disruption, the legislative body may order the room cleared, or the disruptive individual removed in compliance with state law. I n the event of a technological disruption affecting remote participation, an announcement will be made, a recess will be called, staff will attempt to restore service, and the meeting may be resumed even with ongoing technological disruption if the legislative body makes findings required by state law. The entire policy may be viewed on the City’s website at www.pittsburgca.gov on the City Council page under City Council Policies.

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City Council Agency/Liaison/Subcommittee Assignments as of March 26, 2026

OUTSIDE AGENCY BOARDS COUNCIL MEMBER(S) TYPE MEETS TIME STAFF ABAG Dionne Adams / Jelani Killings (Alt.) Standing Annual D. Gale Delta Diablo* Jelani Killings / Arlene Kobata (Alt.) Standing 2nd Wednesday 4:30 PM J. Samuelson East Co. Co. County Habitat Conservancy Arlene Kobata / Juan Banales (Alt.) Standing 4th Monday (Bi-Monthly) 1:30 PM J. Davis East County Water Management Juan Banales / Jelani Killings (Alt.) Standing Bi-Annual 1:00 PM J. Samuelson MCE Clean Energy Board Arlene Kobata / Angelica Lopez (Alt.) Standing 3rd Thursday 6:30 PM J. Davis TRANSPLAN / ECCRFFA Juan Banales / Dionne Adams (Alt.) Standing 2nd Thursday 6:30 PM J. Samuelson Tri-Delta Transit (2 reps)** Angelica Lopez & Dionne Adams / Arlene Kobata (Alt.) Standing 4th Wednesday 4:00 PM J. Samuelson

LIAISON COUNCIL MEMBER(S) TYPE MEETS TIME STAFF
East Bay League of California Cities Dionne Adams / Angelica Lopez (Alt.) Standing 3rd Thursday D. Gale Green Empowerment Zone Arlene Kobata / Jelani Killings (Alt.) Standing 3rd Friday (Bi-Monthly) 9:30 AM J. Davis Los Medanos Health Advisory Committee Arlene Kobata & Dionne Adams Ad Hoc As needed D. Gale Mayor’s Conference Dionne Adams / Angelica Lopez (Alt.) Standing 1st Thursday 6:30 PM D. Gale School Districts Committee (2x2) Jelani Killings & Angelica Lopez / Juan Banales (Alt.) Standing Quarterly D. Gale

SUBCOMMITTEES COUNCIL MEMBER(S) TYPE MEETS TIME STAFF
Community and Economic Development Jelani Killings & Dionne Adams / Angelica Lopez (Alt.) Standing 2nd Thursday 5:30 PM J. Davis Data Center and Hydrogen Jelani Killings & Juan Banales Ad Hoc As needed J. Davis Development Agreement Dionne Adams & Jelani Killings Ad Hoc As needed J. Davis Finance Management Dionne Adams & Juan Banales / Jelani Killings (Alt.) Standing 2nd Wednesday 5:30 PM E. Adair Infrastructure and Transportation Juan Banales & Arlene Kobata / Dionne Adams (Alt.) Standing 4th Thursday 5:30 PM J. Samuelson Tenant Protections Juan Banales & Angelica Lopez Ad Hoc As needed S. Bellafronte Life Enrichment Dionne Adams & Arlene Kobata / Jelani Killings (Alt.) Standing 3rd Wednesday 5:30 PM K. Simonton Pittsburg Arts and Community Foundation Angelica Lopez & Jelani Killings Standing As needed K. Simonton Public Safety Juan Banales & Angelica Lopez / Arlene Kobata (Alt.) Standing 1st Wednesday 5:30 PM P. Galer *Stipend of $170 per month
** Stipend of 100 per month

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CIUDAD DE PITTSBURG

AGENDA MODIFICADA
17 DE AGOSTO DE 2026

SALA DE SESIONES DEL AYUNTAMIENTO
65 CIVIC AVENUE, PITTSBURG, CA

REUNIÓN ORDINARIA
7:00 PM

CONSEJO MUNICIPAL

AUTORIDAD DE VIVIENDA
FUNDACIÓN DE ARTES Y COMUNIDAD DE PITTSBURG
AUTORIDAD DE FINANCIACIÓN DE PITTSBURG
COMPAÑÍA ELÉCTRICA DE PITTSBURG
DISTRITO II DE REDUCCIÓN DE PELIGROS GEOLÓGICOS DEL SUDOESTE DE

PITTSBURG

AGENCIA SUCESORA

PRESIDIENDO

Alcalde/Presidente • Dionne Adams
Vicealcalde/Presidente • Angelica López
Miembro del Consejo/Miembro de la Junta • Juan Antonio Banales Miembro del Consejo/Miembro de la Junta • Arlene Kobata Miembro del Consejo/Miembro de la Junta • Jelani Killings

PARA LA AUTORIDAD DE VIVIENDA
Miembro de la Autoridad de Vivienda • S.L. Floyd
Miembro de la Autoridad de Vivienda • Annie Hill Herring

Las reuniones ordinarias del Consejo Municipal de Pittsburg se llevan acabo el primer y el tercer lunes de cada mes a las 7:00PM. La Autoridad de Vivienda se reúne conjuntamente con el Consejo Municipal el tercer lunes de cada mes. El Consejo Municipal también actúa como junta directiva de varias otras agencias municipals.

La participación remota en las reuniones del Consejo estará disponible a través de Zoom:
• ID del seminario web: 898 0554 4017
• Por teléfono: (669) 900-6833

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7:00 PM - INICIO DE LA SESIÓN PÚBLICA ORDINARIA

LLAMADA AL ORDEN

LISTA DE ASISTENCIA

JURAMENTO DE LEALTAD

AUTORIDAD DE VIVIENDA

AUDIENCIA PÚBLICA DE LA AUTORIDAD DE VIVIENDA

1. Adopción de una resolución de la Autoridad de Vivienda que aprueba el Plan Administrativo de la Agencia de Vivienda Pública para 2026 y ordena al Director Ejecutivo presentar el Plan Administrativo de la Agencia de Vivienda Pública para 2026 al Departamento de Vivienda y Desarrollo Urbano de EE.

UU.

Según el cumplimiento requerido por el Departamento de Vivienda y Desarrollo Urbano de EE. UU. (HUD), la Autoridad de Vivienda de la Ciudad de Pittsburg (Autoridad de Vivienda) ha revisado su Plan Administrativo para incorporar modificaciones o enmiendas significativas a las políticas que abordan la prestación de servicios de vivienda en la comunidad (Plan Administrativo para 2026). El Plan Administrativo describe las políticas y procedimientos de la Autoridad de Vivienda.

CALENDARIO DE CONSENTIMIENTO DE LA AUTORIDAD DE VIVIENDA

2. Acta del 20 de julio de 2026

3. Adopción de una resolución de la Autoridad de Vivienda que aprueba la certificación del Programa de Evaluación de Gestión de la Sección 8 para el año fiscal que termina el 30 de junio de 2026

Como se requiere para cumplir con el Departamento de Vivienda y Desarrollo Urbano de EE. UU. (HUD), la Autoridad de Vivienda de la Ciudad de Pittsburg (Autoridad de Vivienda) ha preparado la Certificación del Programa de Evaluación de Gestión de la Sección 8 (SEMAP) para su presentación en el ejercicio fiscal que finaliza el 30 de junio de 2026.

COMENTARIOS DE MIEMBROS DE LA AUTORIDAD DE VIVIENDA

APLAZAMIENTO DE LA AUTORIDAD DE VIVIENDA

CONSEJO MUNICIPAL

PROCLAMACIONES
La(s) proclamación(es) permanente(s) se publicaron como parte de la agenda.

La(s) proclamación(es) se publicarán en la página web de la ciudad y en las redes sociales según corresponda.

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4. Th!nk Pittsburg - Nivagen

COMENTARIOS PÚBLICOS
Los miembros del público que deseen dirigirse al Ayuntamiento o a las Juntas de Agencias sobre asuntos que no estén programados en la agenda y sobre cualquier punto listado en el Calendario de Consentimiento deben completar una Tarjeta de Portavoz disponible en el estrado. Por favor, lee la tarjeta detenidamente para rellenarla correctamente. Entrega la tarjeta completada al Secretario Municipal antes de que se llame el punto, preferiblemente antes de que comience la reunión. A las personas se les dará tres minutos para dirigirse al Consejo, a menos que se permita tiempo adicional según lo previsto para los portavoces. Antes de hablar, cada miembro del público deberá declarar su nombre, su negocio y la ciudad de residencia en un tono claro y audible. (No se requiere ninguna acción)

INFORMES DEL COMITÉ
Los miembros del Consejo pueden elaborar un informe sobre sus asignaciones en los comités en este momento. (véase la lista adjunta de comités ad hoc y otros organismos públicos en los que participan los miembros del Consejo). (No se requiere ninguna acción

AUDIENCIA PÚBLICA DE LA PITTSBURG POWER COMPANY

5. Adopción de la Resolución de Compañía Eléctrica de Pittsburg que aprueba las tarifas propuestas de Island Energy para el año fiscal 2026-2027

Compañía Eléctrica de Pittsburg (PPC), una Autoridad de Potencias Conjuntas, ofrece servicios minoristas de electricidad y gas natural en Mare Island, Vallejo, operando bajo el nombre Island Energy (IE). PPC presenta sus tarifas propuestas para el Año Fiscal (FY) 2026-27 a la Junta de Gobierno de la Compañía Eléctrica de Pittsburg para su aprobación. Si se adoptan, las tasas actualizadas entrarán en vigor el el 1 de septiembre de 2026.

AUDIENCIA PÚBLICA DEL CONSEJO MUNICIPAL Y LA AUTORIDAD DE FINANCIACIÓN DE PITTSBURG

6. Audiencia pública y adopción de resoluciones que autorizan la emisión y venta de Bonos Fiscales Especiales de la Ciudad de Pittsburg, para y en nombre del Distrito de Instalaciones Comunitarias 2009-01 (San Marco), y de Bonos Especiales de Ingresos Fiscales de la Autoridad de Financiación Pública de la Ciudad de Pittsburg

Para generar los ingresos de los bonos que financien las instalaciones de capital de la Ciudad, incluidas las instalaciones ya adquiridas de las Empresas Seeno, la Ciudad de Pittsburg (la "Ciudad") propone emitir bonos fiscales especiales por valor de 25 millones de dólares ("Bonos de la Ciudad") para y en nombre de su Distrito de Instalaciones Comunitarias 2009-01 (San Marco) (el "CFD" o el "Distrito"). Simultáneamente, la Autoridad de

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Financiación Pública de la Ciudad de Pittsburg (la "Autoridad") emitirá un equivalente a 25 millones de dólares en bonos fiscales especiales ("Bonos de Autoridad") para comprar los Bonos de la Ciudad.

CONSIDERACIÓN

7. Introducir y renunciar a la primera lectura de una ordenanza que añade el Capítulo 9.19 al Código Municipal de Pittsburg que regula las hogueras abiertas

El personal solicita al Consejo Municipal que introduzca y exima la primera lectura de una Ordenanza que añade el Capítulo 9.19, "Fuegos a Cielo Abierto", al Título 9 del Código Municipal de Pittsburg, estableciendo normas que regulan las hogueras a cielo abierto, hogueras, barbacoas y hogueras en parques municipales y propiedades públicas para reducir los riesgos de incendio y proteger la salud y seguridad públicas. El personal recomienda la presentación de la Ordenanza en esta reunión, con la segunda lectura y adopción que se seguirán en una reunión ordinaria posterior.

8. Adopción de una resolución del Consejo Municipal que designa un delegado con derecho a voto y un suplente para la Conferencia y Expo Anual 2026 de la Liga de Ciudades de California

Cada año, la Liga de Ciudades de California (Cal Cities) convoca una Asamblea General dirigida por sus miembros durante su Conferencia y Expo Anual. La Asamblea General ofrece una oportunidad importante para que los funcionarios municipales participen directamente en la configuración de las políticas de Cal Cities. Para participar, el Ayuntamiento debe nombrar a un delegado con derecho a voto y puede designar hasta dos suplentes.

DECLARACIÓN DE CONFLICTO DE INTERESES
Los miembros del Consejo Municipal o de la Agencia Municipal pueden hacer cualquier declaración de conflicto de intereses relacionada con los elementos del Calendario de Consentimiento en este momento..

CALENDARIO DE CONSENTIMIENTO COMBINADO DEL CONCEJO
MUNICIPAL, LA FUNDACIÓN DE ARTES Y COMUNIDAD DE PITTSBURG, LA COMPAÑÍA ELÉCTRICA DE PITTSBURG, DISTRITO II DE REDUCCIÓN DE PELIGROS GEOLÓGICOS DEL SUDOESTE DE PITTSBURG Y LA AGENCIA

SUCESORA

9. Recibir y presentar el informe del Tesorero correspondiente al trimestre que termina el 30 de junio de 2026

Se proporciona un Informe Resumen de Inversiones al Consejo Municipal para su revisión en cada trimestre fiscal. El informe incluye la información detallada combinada de las inversiones de la Ciudad y de la Agencia Sucesora (Agencia), que cumplen con las Políticas de Inversión de la Ciudad y la Agencia. Este Informe del Tesorero corresponde al trimestre fiscal que finaliza el 30 de junio de 2026.

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10. Adopción mediante moción para aprobar un permiso de ausencia para la comisionada de urbanismo Jennifer Ingram

El Consejo Municipal considerará una excedencia de un Comisionado de Urbanismo.

11. Adopción por moción que ordena la revisión del Código de Conflictos de Intereses de la ciudad

La Ley de Reforma Política (Ley) exige que cada agencia gubernamental local revise su Código de Conflicto de Intereses cada dos años para determinar si es preciso o si necesita ser modificado. Un código de conflictos de intereses indica a funcionarios públicos, empleados gubernamentales y consultores qué intereses financieros deben revelar en su Declaración de Intereses Económicos (Formulario 700). Una vez tomada la determinación, debe presentarse un aviso al organismo revisor de código a más tardar el 1 de octubre de los años pares.

12. Adopción de una resolución del Ayuntamiento que autoriza un acuerdo con TJKM Transportation Consultants para el diseño del Proyecto 2037 – Mejoras en la seguridad en las calles del puerto

El Proyecto 2037-Mejoras en la Seguridad de Harbor Street (Proyecto) mejorará Harbor Street instalando farolas, mejorando los equipos de semáforos y mejorando los pasos peatonales con medidas de seguridad reforzadas desde Buchanan Road hasta East 3rd Street. Esta acción autoriza al Gerente Municipal a firmar un Acuerdo de Servicios de Consultoría (Acuerdo) con TJKM Transportation Consultants para el diseño del proyecto.

13. Adopción de una resolución del Consejo Municipal que autoriza al Gerente Municipal a ejecutar una Primera Enmienda al Acuerdo de Servicios de Consultoría con Raney Planning and Management, Inc. para el Proyecto de Desarrollo de Faria y modificando el presupuesto del año fiscal 2026-27

El punto autorizaría al Gerente Municipal a firmar una Primera Enmienda al Acuerdo de Servicios de Consultoría con Raney Planning and Management, Inc. para servicios de revisión medioambiental que cumplan con la Ley de Calidad Ambiental de California (CEQA) para el Proyecto de Desarrollo de Faira, AP-25-0050, una urbanización residencial propuesta en un terreno de 606 acres. El Consejo Municipal autorizó al Gerente Municipal a firmar el Acuerdo original de Servicios de Consultoría el 6 de abril de 2026, en la Resoluciónnº 26-14759.

14. Adopción de una resolución de la Pittsburg Power Company que aprueba el Informe Anual de Divulgación de Fuentes de Energía 2025 a la Comisión de Energía de California

La Sección 398.1(b) del Código de Servicios Públicos de California exige que todos los proveedores minoristas de productos eléctricos presenten un informe anual ante la Comisión de Energía de California (CEC) para revelar las fuentes o tipos de combustible de energía adquirida y vendida a los

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clientes de uso final. The Pittsburg Power Company (PPC) ofrece servicio minorista de electricidad en Mare Island, Vallejo, bajo el nombre de Island Energy (IE) y está obligada por ley a revelar las fuentes de su adquisición y venta de energía a sus usuarios finales en Mare Island. La CEC exige al Consejo de Gobierno de Pittsburg Power Company que apruebe su Informe Anual de Divulgación de Fuentes de Energía (Informe PSD) 2025.

15. Adopción de una Resolución de Pittsburg Power que autoriza a la Compañía Eléctrica de Pittsburg a aceptar una Carta de Crédito Irrevocable de la BMO y su Enmienda Nº 1 para la Alteración/Instalación de Instalaciones de Servicios Públicos entre PPC y y ALCO Iron and Metals

La Resolución 26-498 de la Compañía Eléctrica de Pittsburg (PPC) ejecutó la primera enmienda al Acuerdo de Alteración/Instalación de Instalaciones de Servicios Públicos (Acuerdo) fechado el 27 de diciembre de 2022 entre PPC y ALCO Iron and Metals (ALCO), reduciendo el importe original del préstamo de 350.000 a 265.000 dólares en función del reembolso del principal. PPC solicitó una Carta de Crédito (LOC) irrevocable actualizada al Banco BMO, la nueva entidad bancaria de ALCO, y enmiendas para garantizar la renovación anual automática de la LOC por periodos sucesivos y una fecha de vencimiento extendida para cubrir el periodo completo de reembolso del préstamo (Enmienda nº 1).

16. Adopción de una resolución del Consejo Municipal que autoriza al gerente municipal a firmar un acuerdo con Revel Environmental Manufacturing, Inc., para el mantenimiento de dispositivos de captura total de basura en toda la ciudad
La Ciudad está obligada, según la Disposición C.10 del Permiso Regional Municipal de Aguas Pluviales del Sistema Nacional de Eliminación de Vertidos de Contaminantes (NPDES), a reducir las cargas de basura originadas en áreas de generación de basura de niveles medios a muy altos.

Esto se consigue mediante la instalación y el mantenimiento continuo de dispositivos completos de captura de basura en las entradas de drenaje pluvial. Esta acción autoriza la firma de un Acuerdo de Servicios de Consultoría (Acuerdo) con Revel Environmental Manufacturing, Inc. para realizar el mantenimiento anual requerido de los 418 dispositivos completos de recogida de basura instalados por la ciudad para el año fiscal (FY) 2026/27.

17. Adopción de la Resolución del Consejo Municipal que autoriza al Administrador Municipal a ejecutar una Orden de Compra con GCS Environmental Equipment para uno (1) nuevo Freightliner M2 / Tymco 600 Street Sweeper 2027 por un importe total no superior a $415,023.27

Esta acción autoriza la sustitución programada de una barrendera crítica de Obras Públicas mediante un contrato de compra cooperativa solicitado de forma competitiva. La aprobación del Consejo Municipal es necesaria para cumplir con la fecha límite de pedido del fabricante para el año modelo 2027, que es el 4 de septiembre de 2026.

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18. Adopción de una resolución de Pittsburg Power Company que autoriza el pago de la prima de la póliza de seguro de responsabilidad civil general y de automóviles comerciales para el año fiscal 2026-2027 de Island Energy

Pittsburg Power Company (PPC), una agencia conjunta de energías, proporciona servicios minoristas de electricidad y gas natural en Mare Island, Vallejo, bajo el nombre de Island Energy (IE). Cada año, Island Energy contrata pólizas independientes de seguro de responsabilidad civil general y de automóviles comerciales para proporcionar cobertura de responsabilidad civil a la operación de la compañía eléctrica en Mare Island. Para el año fiscal (AF) 2026-2027, la prima anual es de 391.332,95 dólares, para un total de

16.000.000 de dólares en cobertura total de seguro.

SOLICITUD DEL CONCEJO PARA INCLUIR TEMAS EN FUTURAS AGENDAS Los miembros del Consejo pueden solicitar que se consideren ciertos temas para futuras agendas. Un tema solo se incluirá en la agenda con el voto mayoritario y aparecerá junto con las recomendaciones del personal para su posterior consideración por parte del Consejo.

COMENTARIOS DE LOS MIEMBROS DEL CONCEJO
Los miembros del Consejo pueden hacer breves anuncios o comentarios informales en este momento. (No se requiere ninguna acción)

INFORMES/OBSERVACIONES DEL ADMINISTRADOR MUNICIPAL
El administrador municipal podrá realizar breves anuncios o comentarios informales en este momento e informar al Consejo sobre asuntos de interés. (No se requiere ninguna acción).

APLAZAMIENTO HASTA EL 8 DE SEPTIEMBRE DE 2026

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AVISO AL PÚBLICO

INFORMACIÓN GENERAL
Los paquetes de agenda se publican al menos 72 horas antes de una reunión en la página web de la Ciudad en www.pittsburgca.gov y también están disponibles en persona en la Oficina de la Secretaria Municipal, 65 Civic Avenue, durante el horario laboral normal. Si algún informe o documento, que sea un registro público divulgable, se distribuye al Consejo Municipal menos de 72 horas antes de la reunión, dichos informes o documentos estarán disponibles para su inspección pública en la Oficina de la Secretaria Municipal y el día de la reunión en la Sala del Consejo, en el área pública bajo el estrado.

TARJETA DEL PRESIDENTE
Los miembros del público que deseen dirigirse al Consejo Municipal deben completar una Tarjeta de Portavoz disponible en el estrado. Entrega la tarjeta completada a la Secretaria Municipal, preferiblemente antes de que comience la reunión o antes de que se trate el asunto de su interés. Se puede conceder hasta tres minutos para dirigirse al Consejo, salvo que se conceda tiempo adicional según lo previsto para los portavoces. No se permite a los oradores ceder su tiempo a otro orador. De acuerdo con la Ley Brown, el Consejo Municipal no podrá tomar ninguna acción sobre los puntos que no estén ya en la agenda. Sin embargo, el Consejo Municipal puede remitir tus comentarios o preocupaciones al personal o solicitar que el tema se incluya en una agenda futura.

MEDIOS DE TRANSMISIÓN
Las reuniones del Consejo Municipal se retransmiten en directo en la página web de la ciudad en www.pittsburgca.gov en la página de Agendas y Reuniones en Vivo. Mira la reunión en directo en el canal de YouTube de la Ciudad (@CityofPittsburg94565) o a través de la retransmisión por internet de Comcast Canal 24 Delta TV, AT&T U -Verse Canal 99 Delta TV.

La participación remota está disponible a través de Zoom. • ID del seminario web: 898 0554 4017
• Por teléfono: (669) 900-6833
Comentarios Públicos Orales A Distancia - Se pide a los ponentes que faciliten su nombre y ciudad de residencia para el acta, aunque no es necesario hacerlo para participar. Cuando el asunto de tu interés esté abierto para comentarios públicos, utiliza la función "Levantar la mano" (o pulsa *9 si te conectas p or teléfono). Cuando te llamen, desactiva el micrófono y deja tus comentarios.

AUDIENCIAS PÚBLICAS
Las personas que deseen intervenir en las Audiencias Públicas listadas en la agenda serán escuchadas cuando se abra la Audiencia Pública, salvo en los puntos previamente escuchados y cerrados para comentarios públicos. Tras el comentario público, el tema se cierra a comentarios públicos y se lleva al nivel del Consejo o Agencia para su discusión y acción. No se recibirán más comentarios del público salvo que el Consejo o la Agencia lo solicite. Existe un límite de 90 días para presentar un recurso ante el Tribunal Superior contra determinadas decisiones y órdenes administrativas de la ciudad que requieran una audiencia legal, la recepción de pruebas y el ejercicio de la discreción. El plazo de 90 días comienza en la fecha en que la decisión es definitiva (Sección 1094.6 del Código de Procedimiento Civil). Además, si impugnas una acción tomada por el Ayuntamiento en los tribunales, puede que la ley de California, incluida pero no limitada a la Sección 65009 del Código de Gobierno, te limiten a plantear solo aquellas cuestiones que tú o otra persona planteen en la audiencia pública, o en correspondencia escrita entregada al Ayuntamiento antes o durante la audiencia pública

AVISO A PERSONAS CON DISCAPACIDAD VISUAL O AUDITIVA
En cumplimiento con la Ley de Estadounidenses con Discapacidades, la ciudad de Pittsburg proporcionará asistencia especial a los participantes con discapacidad. A petición, se pondrá a disposición una agenda para cualquier reunión en formatos alternativos apropiados. La Cámara del Consejo está equipada con amplificadores de sonido para uso de personas con discapacidad auditiva. Las unidades funcionan en conjunto con el sistema de sonido de la Cámara.

Puede solicitar el amplificador de sonido a la secretaria municipal para uso personal durante las reuniones del Consejo. Si necesita asistencia especial para participar en una reunión, o solicita un orden del día con formato especial, por favor contacte con e la Secretaria Municipal en el (925) 252 -4850. La notificación 48 horas antes de la reunión permitirá a la Ciudad tomar medidas razonables para garantizar la accesibilidad a la reunión o proporcionar el formato de la agenda solicitado (28 CFR 35.102-35.104 ADA Título II).

DISRUPCIÓN TECNOLÓGICA, DECORO Y COMPORTAMIENTOS DISRUPTIVOS La política de Disrupción Tecnológica, Decuento y Comportamiento Disruptivo para las Reuniones del Consejo Municipal fue adoptada para cumplir con el Proyecto de Ley del Senado 707 (2025). De acuerdo con la política, los estándares de decoro exigen que los participantes públicos presenciales y remotos se dirijan al Consejo Municipal en su conjunto, no a miembros individuales o empleados; los comentarios deben referirse a la jurisdicción del órgano legislativo o al punto del orden del día, según corresponda. En caso de interrupción intencionada, el órgano legislativo puede ordenar que se desaloje la sala o que se desaloje a la persona disruptiva en cumplimiento de la ley estatal. En caso de una interrupción tecnológica que afecte a la participación remota, se hará un anuncio, se convocará un receso, el personal intentará restablecer el servicio y la reunión podrá reanudarse incluso con la interrupción tecnológica en curso si el órgano legislativo emite conclusiones exigidas por la ley estatal. La política completa puede consultarse en la página web de la Ciudad en www.pittsburgca.gov en la página del Consejo Municipal bajo Políticas del Consejo Municipal.

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ASIGNACIONES DEL CONCEJO MUNICIPAL A AGENCIAS, ENLACES Y SUBCOMITÉS (26 de Marzo 2026)

JUNTA DIRECTIVA DE AGENCIAS EXTERNAS MIEMBRO(S) DEL CONSEJO TIPO FRECUENCIA HORARIO PERSONAL ABAG Dionne Adams / Jelani Killings (Alt.) recurrente Anual D. Gale/M. Aliotti Delta Diablo* Jelani Killings / Arlene Kobata (Alt.) recurrente 2ndo miércoles 4:30 PM J. Samuelson East Co. Co. County Habitat Conservancy Arlene Kobata / Juan Banales (Alt.) recurrente 4to lunes (Bi-Mensual) 1:30 PM J. Davis East County Water Management Juan Banales / Jelani Killings (Alt.) recurrente Bi-Anual 1:00 PM J. Samuelson MCE Clean Energy Board Arlene Kobata / Angelica Lopez (Alt.) recurrente 3er jueves 6:30 PM J. Davis TRANSPLAN / ECCRFFA Juan Banales / Dionne Adams (Alt.) recurrente 2ndo jueves 6:30 PM J. Samuelson Tri-Delta Transit (2 reps)** Angelica Lopez & Dionne Adams / Arlene Kobata (Alt.) recurrente 4to miércoles 4:00 PM J. Samuelson

ENLACE MIEMBRO(S) DEL CONSEJO TIPO FRECUENCIA HORARIO PERSONAL East Bay League of California Cities Dionne Adams / Angelica Lopez (Alt.) recurrente 3er jueves D. Gale/M. Aliotti Green Empowerment Zone Arlene Kobata / Jelani Killings (Alt.) recurrente 3er viernes (Bi-Mensual) 9:30 AM J. Davis Los Medanos Health Advisory Committee Arlene Kobata & Dionne Adams Ad Hoc Según Sea Necesario 5:00 PM D. Gale/M. Aliotti Mayor’s Conference Dionne Adams / Angelica Lopez (Alt.) recurrente 1er jueves 6:30 PM D. Gale/M. Aliotti School Districts Committee (2x2) Jelani Killings & Angelica Lopez / Juan Banales (Alt.) recurrente Trimestral D. Gale/M.Aliotti SUBCOMITÉS MIEMBRO(S) DEL CONSEJO TIPO FRECUENCIA HORARIO PERSONAL Community and Economic Development Jelani Killings & Dionne Adams / Angelica Lopez (Alt.) recurrente 2do jueves 5:30 PM J. Davis Data Center and Hydrogen Jelani Killings & Juan Banales Ad Hoc Según Sea Necesario J. Davis Development Agreement Dionne Adams & Jelani Killings Ad Hoc Según Sea Necesario J. Davis Finance Management Dionne Adams & Juan Banales / Jelani Killings (Alt.) recurrente 2ndo miércoles 5:30 PM E. Adair Infrastructure and Transportation Juan Banales & Arlene Kobata / Dionne Adams (Alt.) recurrente 4to jueves 5:30 PM J. Samuelson Tenant Protections Juan Banales & Angelica Lopez Ad Hoc Según Sea Necesario S. Bellafronte Life Enrichment Dionne Adams & Arlene Kobata / Jelani Killings (Alt.) recurrente 3er miércoles 5:30 PM K. Simonton Pittsburg Arts and Community Foundation Angelica Lopez & Jelani Killings recurrente Según Sea Necesario K. Simonton Public Safety Juan Banales & Angelica Lopez / Arlene Kobata (Alt.) recurrente 1er miércoles 5:30 PM P. Galer *Sueldo de $170 por mes
** Sueldo de $100 por mes

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STAFF REPORT

MEETING DATE: August 17, 2026

TO: Chair and Governing Board Members

FROM: Darin E. Gale‚ Executive Director
Tanya Ray, Housing Manager

SUBJECT: Adoption of a Housing Authority Resolution Approving the Public Housing Agency Administrative Plan for 2026 and
Directing the Executive Director to Submit the Public Housing Agency Administrative Plan for 2026 to the U.S. Department of Housing and Urban Development

EXECUTIVE SUMMARY

FISCAL IMPACT

Adoption of the Administrative Plan for 2026 has no fiscal impact to the General Fund.

RECOMMENDATION

Staff recommends the Governing Board of the Housing Authority open the public hearing, receive public comment, close the public hearing, and adopt a resolution approving the Administrative Plan for 2026.

BACKGROUND

Significant modifications to the Administrative Plan for 2024 were required to ensure compliance with the Housing Opportunity Through Modernization Act of 2016 (HOTMA). In December 2024, HUD issued Notice PIH 2024-38, which required certain

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provisions of sections 102 and 104 of HOTMA (HOTMA 102/104) to be implemented no later than July 1, 2025. HUD extended the compliance date for full HOTMA implementation to January 1, 2027. The Administrative Plan for 2026 demonstrates full compliance.

SUBCOMMITTEE FINDINGS

This item was not presented to a subcommittee.

STAFF ANALYSIS

The Administrative Plan is the Housing Authority’s principal policy document for administration of the Housing Choice Voucher Program. It establishes how the Housing Authority applies federal requirements and exercises the areas of discretion HUD delegates to local housing agencies. The Plan addresses matters including applicant selection, eligibility, income and asset determinations, rent calculations, inspections, occupancy, continued assistance, terminations, informal reviews and hearings, and other program-administration requirements.

The proposed 2026 Administrative Plan incorporates revisions needed to align the Housing Authority’s written policies with current HUD regulations, notices, and operating guidance. The changes clarify existing requirements, update terminology and procedures, and document how the Housing Authority will administer new or revised federal requirements.

A significant portion of the update concerns the Housing Opportunity Through Modernization Act of 2016 (HOTMA). HOTMA made substantial changes to federal requirements governing income reviews, calculation of annual and adjusted income, treatment of family assets, deductions, interim reexaminations, and related program policies. HUD Notice PIH 2024-38 required housing agencies to implement specified provisions of HOTMA Sections 102 and 104 by July 1, 2025, while implementation of other provisions remains subject to HUD’s applicable guidance and systems readiness.

The July 2025 deadline was later extended to January 1, 2027.

The proposed Plan incorporates the HOTMA provisions currently applicable to the Housing Authority and establishes the policies needed to support continued implementation as additional HUD requirements become operative. The Plan also addresses HUD’s National Standards for the Physical Inspection of Real Estate (NSPIRE). HUD has extended the compliance date for Housing Choice Voucher, Project-Based Voucher, and Section 8 Moderate Rehabilitation programs through January 31, 2027. Accordingly, the Housing Authority will continue using the existing Housing Quality Standards inspection framework until the required transition in 2027.

The proposed revisions are primarily administrative and regulatory. They are not intended to reduce assistance, remove existing procedural protections, or otherwise negatively affect participating families. Adoption of the updated Plan will provide staff

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with a current and Governing Board-approved framework for administering the Housing Choice Voucher Program. It will also reduce the risk of inconsistency between the Housing Authority’s written policies, its actual operating practices, and HUD’s requirements.

The Housing Authority published notice of the proposed Administrative Plan and public hearing on June 30, 2026. As of the preparation of this report, no written comments had been received. Any comments received before or during the public hearing will be presented to and considered by the Governing Board before it takes action on the proposed Plan.

ATTACHMENTS: Resolution
Administrative Plan 2026 Changes

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Resolution No. 26- Page 1 of 2 August 17, 2026

BEFORE THE GOVERNING BOARD OF THE HOUSING AUTHORITY

OF THE CITY OF PITTSBURG

In the Matter of:

Approving the Public Housing Agency )
Administrative Plan for 2026 and Directing the )
Executive Director to Submit the Public ) RESOLUTION NO. 26- Housing Agency Administrative Plan for 2026 )
To the U.S. Department of Housing and Urban )
Development )

WHEREAS, the Housing Authority of the City of Pittsburg (“Housing Authority”) administers the Housing Choice Voucher Program in accordance with regulations and guidance issued by the U.S. Department of Housing and Urban Development (“HUD”); and

WHEREAS, the Housing Authority’s Administrative Plan establishes the local policies and procedures governing its administration of the Housing Choice Voucher Program; and

WHEREAS, the Housing Authority has prepared an updated Administrative Plan for 2026 to incorporate applicable federal requirements and guidance, clarify existing policies and procedures, and reflect current program operations; and

WHEREAS, as required by law, a public notice was published on the Housing Authority website on June 30, 2026, commencing the 45-day period to submit written comments; and

WHEREAS, the public notice was published in the East County Times on July 1, 2026; and

WHEREAS, on August 17, 2026, the Governing Board conducted a duly noticed public hearing at which it received and considered all written and oral comments concerning the proposed Administrative Plan for 2026; and

WHEREAS, adoption of the updated Administrative Plan will provide the Housing Authority with a current policy framework for administering the Housing Choice Voucher Program in accordance with applicable HUD requirements; and

WHEREAS, the adoption of the Housing Authority Administrative Plan for 2026 is in the best interest of the residents of Pittsburg.

NOW, THEREFORE, BE IT RESOLVED that the Governing Board of the Housing Authority of the City of Pittsburg hereby finds the Administrative Plan for 2026 to be a thorough and complete document, approves the Administrative Plan for 2026, and directs the Executive Director to submit the Administrative Plan for 2026 to HUD.

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Resolution No. 26- Page 2 of 2 August 17, 2026

PASSED AND ADOPTED by the Governing Board of the Housing Authority of the City of Pittsburg at a regular meeting on the 17th day of August 2026, by the following vote:

AYES:

NOES:

ABSTAINED:

ABSENT:

_________________
Dionne Adams, Chair
ATTEST:

Alice E. Evenson, Agency Secretary

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Administrative Plan 2026 Changes

Chapter 3
• Citizenship and eligibility status for assistance clariﬁed • Screening eligibility expanded to all states of previous residence • References added
Chapter 5
This chapter contains one correction for insufficient funding after voucher issuance.

Chapter 6
• This chapter no longer has Chapter 6.A. and Chapter 6.B. as the chapter incorporates all HOTMA 102/104 changes
• Removed “UNDER HOTMA 102/104”
• Clariﬁed assistance under Student Financial Assistance • Clariﬁed Alimony and Child Support
• Hardship Exemptions expanded
Chapter 7
• This chapter no longer has Chapter 7.A. and Chapter 7.B. as the chapter incorporates all HOTMA 102/104 changes
• Removed “UNDER HOTMA 102/104”
• Expanded guidelines regarding the Deceased Tenants Report • Clariﬁed assistance under Student Financial Assistance Chapter 8
HUD extended the NSPIRE-V compliance date to February 1, 2027.

Chapter 11
• This chapter no longer has Chapter 11.A. and Chapter 11.B. as the chapter incorporates all HOTMA 102/104 changes
• Removed “UNDER HOTMA 102/104”
• HUD recommendations for documenting Interim Reexaminations and reported changes
• Conducting Interim Reexaminations guidelines

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Chapter 12
• Clariﬁed timeline of termination of assistance for death of the Sole Family Member • Clariﬁed termination of assistance for Family Absence from the Unit • Added cost saving measures for insufficient funding
Chapter 1 3
Verbiage added to Change in Ownership for new owners and documentation.

Chapter 14
• Revised amount of federal awards required to have an independent audit. • Revised section on De Minimis Errors to be effective prior to the PHA’s general HOTMA 102/104 compliance date as required by Notice PIH 2024-38.

Chapter 1 7
Exhibits added for Project Based Vouchers
Chapter 1 9
Removed language regarding Social Security Number and Citizenship Status Veriﬁcation for the Stability Voucher Program.

Glossary
• Added additional acronyms and deﬁnitions
• Removed HIP (Housing Information Portal), JPTA (Job Training Partnership Act) and references, “Prior to PHA implementation of HOTMA 102/104 and Upon PHA implementation of HOTMA 102/104
• Removed “Income for eligibility. Annual income”
• Added Unrestricted net asset (UNA) accounts and Upfront income veriﬁcation (UIV)

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Housing Authority Minutes Page 1 of 2 July 20, 2026

CITY OF PITTSBURG

HOUSING AUTHORITY MEETING MINUTES

DATE: July 20, 2026

LOCATION: Council Chamber, City Hall, 65 Civic Avenue, Pittsburg, CA 94565

CITY COUNCIL/AGENCY MEMBERS
Dionne Adams, Mayor/Chair
Angelica Lopez, Vice-Mayor/Chair
Juan Antonio Banales, Council/Agency Member
Arlene Kobata, Council/Agency Member
Jelani Killings, Council/Agency Member
S.L. Floyd, Agency Member
Annie Hill Herring, Agency Member

APPOINTED OFFICIALS
Darin E. Gale, City Manager/Executive Director
Donna Mooney, City Attorney/Legal Counsel
Alice E. Evenson, City Clerk/Agency Secretary (elected) Nancy Parent, City Treasurer (elected)

Chair Adams called the meeting of the Housing Authority to order at 7:03 P.M. in the Council Chamber at City Hall, 65 Civic Avenue Pittsburg, CA.

ROLL CALL

Vice Chair Lopez was absent and excused.

Member Herring arrived at 7:04 P.M., after roll call.

CONSIDERATION

1. Adoption of a Housing Authority Resolution to: 1) Amend the Housing Authority Budget to Allocate and Appropriate Funds; and 2) Authorize the Executive Director to Execute a Forgivable Loan Agreement and Associated Transaction Documents with Village of Hope Pittsburg LLC to Support the Construction of Transitional Age Youth (TAY) Housing at 5305 Kirker Pass Road

On Motion by Member Floyd, seconded by Member Herring and adopted by the following vote:

AYES: Banales, Floyd, Herring, Killings, Kobata, Adams ABSENT: Lopez

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Housing Authority Minutes Page 2 of 2 July 20, 2026

CONSENT CALENDAR

On Motion by Member Floyd, seconded by Member Herring and adopted by the following vote:

AYES: Banales, Floyd, Herring, Killings, Kobata, Adams ABSENT: Lopez

2. Minutes of June 15, 2026

HOUSING AUTHORITY MEMBER REMARKS

Member Floyd stated that he was grateful to everyone in attendance noting it provided an opportunity to see their care and progress to ensure the community's housing needs.

ADJOURNMENT

The Housing Authority adjourned at 7:39 P.M.

Respectfully submitted,

Alice E. Evenson, Secretary

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STAFF REPORT

MEETING DATE: August 17, 2026

TO: Chair and Governing Board Members

FROM: Darin E. Gale‚ Executive Director
Tanya Ray, Housing Manager

SUBJECT: Adoption of a Housing Authority Resolution Approving the Section 8 Management Assessment Program Certification for Fiscal Year Ending June 30, 2026

EXECUTIVE SUMMARY

FISCAL IMPACT

Approving the SEMAP has no fiscal impact on the General Fund or the Housing Authority Funds.

RECOMMENDATION

Staff recommends the Governing Board of the Housing Authority adopt the Resolution approving the SEMAP Certification for the fiscal year ending June 30, 2026, and directing submission to HUD no later than the August 30, 2026, deadline.

BACKGROUND

In 1999, HUD introduced SEMAP as a management assessment system designed to provide an annual measurement of performance for all housing authorities administering the Section 8 Housing Choice Voucher program. HUD requires SEMAP Certification be approved by resolution of the governing body and transmitted electronically through HUD’s Public and Indian Housing Information Center (PIC) system within 60 days of the end of the fiscal year.

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The SEMAP system assesses the Housing Authority on 14 key indicators that show whether families are assisted fairly and expeditiously and in accordance with the Federal regulations governing the program. These indicators are:

1) Selection from Waiting List;
2) Reasonable Rent;
3) Determination of Adjusted Income;
4) Utility Allowance Schedule;
5) Housing Quality Standards (HQS) Quality Control;
6) HQS Enforcement;
7) Expanding Housing Opportunities;
8) Payment Standards;
9) Annual Reexaminations;
10) Correct Tenant Rent Calculations;
11) Pre-contract HQS;
12) Annual HQS;
13) Lease Up (Utilization); and
14) Family Self-Sufficiency.

Eight indicators are based on information certified by the Housing Authority, and the remaining six indicators are based on HUD’s PIC system data. Upon review of this SEMAP Certification by HUD, a determination will be made on the operational designation and regulatory compliance of the Housing Authority.

It is of note that Indicator 14, "Family Self-Sufficiency," is rated for those housing authorities operating a Family Self-Sufficiency (FSS) Program and have an FSS Coordinator. As the Housing Authority of the City of Pittsburg does not operate this program, it is assessed on the remaining 13 indicators.

Within the 13 applicable indicators, there is a cumulative 135-point total scale.

Attainment of 122 or more points (a 90% score) will yield a designation of “High Performer,” while a score between 81 and 121 points (60-89%) will yield a designation of “Standard Performer,” and a score of less than 80 points (60%) will yield a designation of “Troubled Performer.” HUD will conduct onsite reviews of housing authorities rated as Troubled Performers to assess the magnitude and severity of potential issues.

SUBCOMMITTEE FINDINGS

This item was not discussed in a subcommittee.

STAFF ANALYSIS

The proposed SEMAP Certification reports the Housing Authority’s performance in administering the Housing Choice Voucher Program during the fiscal year ending June 30, 2026. The Certification is based on program records, quality-control reviews,

Page 29 of 478 ends

inspection activity, participant files, rent calculations, utilization information, and other data maintained by or reported to HUD during the assessment period.

Based on the results reflected in the attached Certification, staff anticipates that the Housing Authority will receive a score sufficient to maintain its High Performer designation. This anticipated result indicates that the Housing Authority continues to meet HUD’s standards across the applicable areas of program administration, including participant selection, income and rent determinations, housing quality inspections and enforcement, payment standards, annual reexaminations, and voucher utilization.

The Governing Board’s action does not determine the Housing Authority’s final score or performance designation. HUD will calculate or validate the applicable indicators, review the Housing Authority’s certified information, and issue the official SEMAP score and designation. Board approval authorizes the Housing Authority to certify the accuracy of its reported performance and complete the required federal submission.

Timely submission is a material compliance requirement. Failure to submit the Certification by HUD’s deadline could adversely affect the Housing Authority’s performance designation and subject it to additional HUD oversight or corrective requirements. Approval at this meeting will allow staff to submit the Certification before the federal deadline.

Adopting the Resolution will, therefore, satisfy the governing-body approval requirement, support the Housing Authority’s continued compliance with federal Housing Choice Voucher Program requirements, and permit HUD to complete its annual assessment of the Housing Authority’s program administration.

ATTACHMENTS: Resolution
Section 8 Management Assessment Program Certification

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Resolution No. 26- Page 1 of 2 August 17, 2026

BEFORE THE GOVERNING BOARD OF THE HOUSING AUTHORITY

OF THE CITY OF PITTSBURG

In the Matter of:

Approving the Section 8 Management )
Assessment Program Certification for ) RESOLUTION NO. 26- Fiscal Year End June 30, 2026 )

WHEREAS, in 1999, the U.S. Department of Housing and Urban Development (HUD), introduced the Section 8 Management Assessment Program (SEMAP) as a management assessment system designed to provide an annual measurement of performance for all housing authorities administering the Section 8 Housing Choice Voucher program; and

WHEREAS, HUD requires SEMAP Certification be approved by resolution of the governing body and transmitted electronically through HUD's Public and Indian Housing Information Center (PIC) system within 60 days following the end of the fiscal year; and

WHEREAS, the SEMAP system assesses housing authorities on 14 key indicators that show whether families are assisted fairly and expeditiously and in accordance with the Federal regulations governing the program. These fourteen (14) indicators are: 1) Selection from the Waiting List; 2) Reasonable Rent: 3) Determination of Adjusted Income; 4) Utility Allowance Schedule; 5) Housing Quality Standards (HQS) Quality Control; 6) HQS Enforcement; 7) Expanding Housing Opportunities; 8) Payment Standards; 9) Annual Reexaminations; 10) Correct Tenant Rent Calculations; 11) Pre-contract HQS; 12) Annual HQS; 13) Lease Up (Utilization); and 14) Family Self-Sufficiency; and

WHEREAS, eight indicators are based on information certified by the Housing Authority of the City of Pittsburg (Housing Authority) and the remaining six indicators are based on HUD's PIC system data; and

WHEREAS, Indicator 14, Family Self-Sufficiency, is rated for those housing authorities operating a Family Self-Sufficiency (FSS) Program and have an FSS Coordinator. The Housing Authority does not operate this program and is, therefore, assessed on the remaining 13 indicators for a maximum of 135 points; and

WHEREAS, the Housing Authority has identified policies, procedures and management practices to ensure compliance with SEMAP indicators identified by HUD; and

WHEREAS, upon review of this SEMAP Certification by HUD, a determination will be made on the operational designation and regulatory compliance of the Housing Authority.

NOW, THEREFORE, BE IT RESOLVED the Governing Board of the Housing Authority finds and determines that the SEMAP Certification for Fiscal Year End June 30, 2026, is a thorough and complete document, and supports the Housing Authority's

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Resolution No. 26- Page 2 of 2 August 17, 2026

policies, procedures and management practices; and

BE IT FURTHER RESOLVED that the Governing Board of the Housing Authority hereby approves the SEMAP Certification for submission and Exhibit A incorporated herein by this reference; and

BE IT FURTHER RESOLVED that the Executive Director is hereby authorized to take such further actions as may be necessary or appropriate to carry out the Housing Authority's obligations pursuant to this Resolution.

PASSED AND ADOPTED by the Governing Board of the Housing Authority of the City of Pittsburg at a regular meeting on the 17th day of August 2026, by the following vote:

AYES:

NOES:

ABSTAINED:

ABSENT:

_________________
Dionne Adams, Chair
ATTEST:

Alice E. Evenson, Agency Secretary

Page 32 of 478 ends

Section 8 Management Assessment
Program (SEMAP)

U.S. Department of Housing OMB Approval No. 2577-0215 and Urban Development (exp. 12/31/2026) Offi ce of Public and Indian Housing
Certification
Public reporting burden for this collection of information is estimated to average 12 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This agency may not conduct or sponsor, and you are not required to respond to, a collection of information unless it displays a currently valid OMB control number.

This collection of information is required by 24 CFR sec 985.101 which requires a Public Housing Agency (PHA) administering a Section 8 tenant-based assistance program to submit an annual SEMAP Certification within 60 days after the end of its fiscal year. The information from the PHA concerns the performance of the PHA and provides assurance that there is no evidence of seriously deficient performance. HUD uses the information and other data to assess PHA management capabilities and deficiencies, and to assign an overall performance rating to the PHA. Responses are mandatory and the information collected does not lend itself to confidentiality.

Instructions Respond to this certification form using the PHA’s actual data for the fiscal year just ended.

PHA Name
For PHA FY Ending (mm/dd/yyyy)
Submission Date (mm/dd/yyyy)
Check here if the PHA expends less than $300,000 a year in Federal awards Indicators 1 - 7 will not be rated if the PHA expends less than $300,000 a year in Federal awards and its Section 8 programs are not audited for compliance with regulations by an independent auditor. A PHA that expends less than $300,000 in Federal awards in a year must still complete the certification for these indicators.

Performance Indicators

1. Selection from the Waiting List. (24 CFR 982.54(d)(1) and 982.204(a)) (a) The PHA has written policies in its administrative plan for selecting applicants from the waiting list.

PHA Response
Yes
No
(b) The PHA’s quality control samples of applicants reaching the top of the waiting list and of admissions show that at least 98% of the families in the samples were selected from the waiting list for admission in accordance with the PHA’s policies and met the selection criteria that determined their places on the waiting list and their order of selection.

PHA Response
Yes
No

2. Reasonable Rent. (24 CFR 982.4, 982.54(d)(15), 982.158(f)(7) and 982.507) (a) The PHA has and implements a reasonable written method to determine and document for each unit leased that the rent to owner is reasonable based on current rents for comparable unassisted units (i) at the time of initial leasing, (ii) before any increase in the rent to owner, and (iii) at the HAP contract anniversary if there is a 5 percent decrease in the published FMR in effect 60 days before the HAP contract anniversary. The PHA’s method takes into consideration the location, size, type, quality, and age of the program unit and of similar unassisted units, and any amenities, housing services, maintenance or utilities provided by the owners.

PHA Response
Yes
No
(b) The PHA’s quality control sample of tenant files for which a determination of reasonable rent was required shows that the PHA followed its written method to determine reasonable rent and documented its determination that the rent to owner is reasonable as required for (check one):

PHA Response
At least 98% of units sampled
80 to 97% of units sampled
Less than 80% of units sampled

3. Determination of Adjusted Income. (24 CFR part 5, subpart F and 24 CFR 982.516) The PHA’s quality control sample of tenant files shows that at the time of admission and reexamination, the PHA properly obtained third party verification of adjusted income or documented why third party verification was not available; used the verified information in determining adjusted income; properly attributed allowances for expenses; and, where the family is responsible for utilities under the lease, the PHA used the appropriate utility allowances for the unit leased in determining the gross rent for (check one):

PHA Response
At least 90% of files sampled
80 to 89% of files sampled
Less than 80% of files sampled

4. Utility Allowance Schedule. (24 CFR 982.517)
The PHA maintains an up-to-date utility allowance schedule. The PHA reviewed utility rate data that it obtained within the last 12 months, and adjusted its utility allowance schedule if there has been a change of 10% or more in a utility rate since the last time the utility allowance schedule was revised.

PHA Response
Yes
No

5. HQS Quality Control Inspections. (24 CFR 982.405(b)) A PHA supervisor (or other qualified person) reinspected a sample of units during the PHA fiscal year, which met the minimum sample size required by HUD (see 24 CFR 985.2), for quality control of HQS inspections. The PHA supervisor’s reinspected sample was drawn from recently completed HQS inspections and represents a cross section of neighborhoods and the work of a cross section of inspectors.

PHA Response
Yes
No

6. HQS Enforcement. (24 CFR 982.404)
The PHA’s quality control sample of case files with failed HQS inspections shows that, for all cases sampled, any cited life-threatening HQS deficiencies were corrected within 24 hours from the inspection and, all other cited HQS deficiencies were corrected within no more than 30 calendar days from the inspection or any PHA-approved extension, or, if HQS deficiencies were not corrected within the required time frame, the PHA stopped housing assistance payments beginning no later than the first of the month following the correction period, or took prompt and vigorous action to enforce the family obligations for (check one):

PHA Response
At least 98% of cases sampled
Less than 98% of cases sampled

Previous edition is obsolete

Page 1 of 4 ends

ref. 24 CFR Part 985
form HUD-52648 (01/2024)

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7. Expanding Housing Opportunities. (24 CFR 982.54(d)(5), 982.153(b)(3) and (b)(4), 982.301(a) and 983.301(b)(4) and (b)(12)).

Applies only to PHAs with jurisdiction in metropolitan FMR areas.

Check here if not applicable
(a) The PHA has a written policy to encourage participation by owners of units outside areas of poverty or minority concentration which clearly delineates areas in its jurisdiction that the PHA considers areas of poverty or minority concentration, and which includes actions the PHA will take to encourage owner participation.

PHA Response
Yes
No
(b) The PHA has documentation that shows that it took actions indicated in its written policy to encourage participation by owners outside areas of poverty and minority concentration.

PHA Response
Yes
No
(c) The PHA has prepared maps that show various areas, both within and neighboring its jurisdiction, with housing opportunities outside areas of poverty and minority concentration; the PHA has assembled information about job opportunities, schools and services in these areas; and the PHA uses the maps and related information when briefing voucher holders.

PHA Response
Yes
No
(d) The PHA’s information packet for voucher holders contains either a list of owners who are willing to lease, or properties available for lease, under the voucher program, or a list of other organizations that will help families find units and the list includes properties or organizations that operate outside areas of poverty or minority concentration.

PHA Response
Yes
No
(e) The PHA’s information packet includes an explanation of how portability works and includes a list of neighboring PHAs with the name, address and telephone number of a portability contact person at each.

PHA Response
Yes
No
(f) The PHA has analyzed whether voucher holders have experienced difficulties in finding housing outside areas of poverty or minority concentration and, where such difficulties were found, the PHA has considered whether it is appropriate to seek approval of exception payment standard amounts in any part of its jurisdiction and has sought HUD approval when necessary.

PHA Response
Yes
No

8. Payment Standards. The PHA has adopted payment standards schedule(s) in accordance with § 982.503.

PHA Response
Yes
No
Enter FMRs and payment standards (PS)
0-BR FMR _________
1-BR FMR _________
2-BR FMR _________
3-BR FMR ________
4-BR FMR _________
PS ______________
PS ______________
PS ______________
PS ______________
PS ______________
If the PHA has jurisdiction in more than one FMR area, and/or if the PHA has established separate payment standards for a PHA-designated part of an FMR area, attach similar FMR and payment standard comparisons for each FMR area and designated area.

9. Annual Reexaminations. The PHA completes a reexamination for each participating family at least every 12 months. (24 CFR 982.516) PHA Response
Yes
No

10. Correct Tenant Rent Calculations. The PHA correctly calculates tenant rent in the rental certificate program and the family rent to owner in the rental voucher program. (24 CFR 982, Subpart K)
PHA Response
Yes
No

11. Initial HQS Inspections. Newly leased units pass HQS inspection within the time period required. This includes both initial and turnover inspections for

the PBV program. (24 CFR 982.305; 983.103(b)-(d)).

PHA Response
Yes
No

12. Periodic HQS Inspections. The PHA has met its periodic inspection requirement for its units under contract (982.405 and 983.103(e)).

PHA Response
Yes
No

13. Lease-Up. The PHA executes housing assistance contracts for the PHA's number of baseline voucher units, or expends its annual allocated budget authority.

PHA Response
Yes
No
14a.

Family Self-Sufficiency Enrollment. The PHA has enrolled families in FSS as required. (24 CFR 984.105) Applies only to PHAs required to administer an FSS program .

Check here if not applicable
PHA Response
a. Number of mandatory FSS slots (Count units funded under the FY 1992 FSS incentive awards and in FY 1993 and later through 10/20/1998. Exclude units funded in connection with Section 8 and Section 23 project-based contract terminations; public housing demolition, disposition and replacement; HUD multifamily property sales; prepaid or terminated mortgages under section 236 or section 221(d)(3); and Section 8 renewal funding. Subtract the number of families that successfully completed their contracts on or after 10/21/1998.) or, Number of mandatory FSS slots under HUD-approved exception

Previous edition is obsolete

Page 2 of 4 ends

ref. 24 CFR Part 985
form HUD-52648 (01/2024)

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b. Number of FSS families currently enrolled
c. Portability: If you are the initial PHA, enter the number of families currently enrolled in your FSS program, but who have moved under portability and whose Section 8 assistance is administered by another PHA Percent of FSS slots filled (b + c divided by a)
14b. Percent of FSS Participants with Escrow Account Balances. The PHA has made progress in supporting family self-sufficiency as measured by the percent of currently enrolled FSS families with escrow account balances. (24 CFR 984.305) Applies only to PHAs required to administer an FSS program .

Check here if not applicable
PHA Response
Yes
No
Portability: If you are the initial PHA, enter the number of families with FSS escrow accounts currently enrolled in your FSS program, but who have moved under portability and whose Section 8 assistance is administered by another PHA Deconcentration Bonus Indicator (Optional and only for PHAs with jurisdiction in metropolitan FMR areas).

The PHA is submitting with this certification data which show that:
(1)
Half or more of all Section 8 families with children assisted by the PHA in its principal operating area resided in low poverty census tracts at the end of the last PHA FY;
(2)
The percent of Section 8 mover families with children who moved to low poverty census tracts in the PHA’s principal operating area during the last PHA FY is at least two percentage points higher than the percent of all Section 8 families with children who resided in low poverty census tracts at the end of the last PHA FY;
or
(3)
The percent of Section 8 mover families with children who moved to low poverty census tracts in the PHA’s principal operating area over the last two PHA FYs is at least two percentage points higher than the percent of all Section 8 families with children who resided in low poverty census tracts at the end of the second to last PHA FY.

PHA Response
Yes
No
If yes, attach completed deconcentration bonus indicator addendum.

I hereby certify under penalty of perjury that, to the best of my knowledge, the above responses are true and correct for the PHA fiscal year indicated above. I also certify that, to my present knowledge, there is not evidence to indicate seriously deficient performance that casts doubt on the PHA’s capacity to administer Section 8 rental assistance in accordance with Federal law and regulations.

Warning: Anyone who knowingly submits a false claim or makes a false statement is subject to criminal and/or civil penalties, including confinement for up to 5 years, fines, and civil and administrative penalties. (18 U.S.C. §§ 287, 1001, 1010, 1012, 1014; 31 U.S.C. §3729, 3802).

Executive Director, signature
Chairperson, Board of Commissioners, signature

___________________________________________________________ Date (mm/dd/yyyy) ____________________________________________

_________________________________________________________ Date (mm/dd/yyyy) _________________________________________

The PHA may include with its SEMAP certification any information bearing on the accuracy or completeness of the information used by the PHA in providing its certification.

Previous edition is obsolete

Page 3 of 4 ends

ref. 24 CFR Part 985
form HUD-52648 (01/2024)

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Page 4 of 4 ends

SEMAP Certification - Addendum for Reporting Data for Deconcentration Bonus Indicator Date (mm/dd/yyyy) ____________________________
PHA Name ______________________________________________________________________________________ Principal Operating Area of PHA _____________________________________________________________________ (The geographic entity for which the Census tabulates data) Special Instructions for State or regional PHA
s . Complete a copy of this addendum for each metropolitan area or portion of a metropolitan area (i.e., principal operating areas) where the PHA has assisted 20 or more Section 8 families with children in the last completed PHA FY. HUD will rate the areas separately and the separate ratings will then be weighted by the number of assisted families with children in each area and averaged to determine bonus points. 2020 Census Poverty Rate of Principal Operating Area __________________________________________________ Criteria to Obtain Deconcentration Indicator Bonus Points To qualify for bonus points, a PHA must complete the requested information and answer yes for only one of the 3 criteria below. However, State and regional PHAs must always complete line 1) b for each metropolitan principal operating area. 1)
__________
a. Number of Section 8 families with children assisted by the PHA in its principal operating area at the end of the last PHA FY who live in low poverty census tracts. A low poverty census tract is a tract with a poverty rate at or below the overall poverty rate for the principal operating area of the PHA, or at or below 10% whichever is greater. __________
b. Total Section 8 families with children assisted by the PHA in its principal operating area at the end of the last PHA FY. __________
c. Percent of all Section 8 families with children residing in low poverty census tracts in the PHA’s principal operating area at the end of the last PHA FY (line a divided by line b).

Is line c 50% or more? Yes
No
2)
__________
a. Percent of all Section 8 families with children residing in low poverty census tracts in the PHA's principal operating area at the end of the last completed PHA FY.
__________
b. Number of Section 8 families with children who moved to low poverty census tracts during the last completed PHA FY. __________
c. Number of Section 8 families with children who moved during the last completed PHA FY. __________
d. Percent of all Section 8 mover families with children who moved to low poverty census tracts during the last PHA fiscal year (line b divided by line c).

Is line d at least two percentage points higher than line a? Yes No
3)
__________
a. Percent of all Section 8 families with children residing in low poverty census tracts in the PHA's principal operating area at the end of the second to last completed PHA FY.
__________
b. Number of Section 8 families with children who moved to low poverty census tracts during the last two completed PHA FYs. __________
c. Number of Section 8 families with children who moved during the last two completed PHA FYs. __________
d. Percent of all Section 8 mover families with children who moved to low poverty census tracts over the last two completed PHA FYs (line b divided by line c).

Is line d at least two percentage points higher than line a? Yes No
If one of the 3 criteria above is met, the PHA may be eligible for 5 bonus points.

See instructions above concerning bonus points for State and regional PHAs.

Previous edition is obsolete
ref. 24 CFR Part 985
form HUD-52648 (01/2024)

Page 36 of 478 ends

STAFF REPORT

MEETING DATE: August 17, 2026

TO: Chair and Governing Board Members

FROM: Darin E. Gale‚ Executive Director
Jordan Davis, Director of Community and Economic
Development
Vanessa Xie, General Manager of Pittsburg Power Company

SUBJECT: Adoption of Pittsburg Power Company Resolution Approving Island Energy’s Fiscal Year 2026-2027 Proposed Utility
Rates for Electricity and Natural Gas Retail Services on Mare Island

EXECUTIVE SUMMARY

Pittsburg Power Company (PPC), a Joint Powers Authority, provides utility retail electric and natural gas services on Mare Island, Vallejo, doing business as Island Energy (IE).

PPC presents its proposed Fiscal Year (FY) 2026-27 utility rates to the Governing Board of the Pittsburg Power Company for approval. If adopted, the updated rates will take effect September 1, 2026.

FISCAL IMPACT

To align with the City of Pittsburg’s budget cycle, FY 2026-27 revenue projections assume Island Energy utility sales are billed under the current FY 2025-26 rates from through August 2026 and under the proposed FY 2026-27 rates from September 2026 through June 2027. Any variance between the FY 2026-27 adopted budget and the FY 2026-27 rate case projections will be addressed in the FY 2026-27 mid-year budget review.

RECOMMENDATION

PPC Board open the Public Hearing, take testimony, close the Public Hearing, consider the testimony, and adopt the attached resolution adopting the FY 2026-2027 Rate Schedules and authorizing the Executive Director to take such further actions as may be necessary to continuously deliver reliable services to customers on Mare Island.

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BACKGROUND

Pittsburg Power Company (PPC) is a joint powers authority formed pursuant to Article XI, Section 9 of the California Constitution. PPC has the authority to acquire utility assets, establish rates, and provide utility services on Mare Island in the City of Vallejo.

PPC provides these services through Island Energy (IE).

Each year, PPC staff prepares a rate case to establish the rates necessary to provide retail electric and natural gas service on Mare Island. The rate case uses a cost-of- service model designed to generate sufficient revenue to recover the reasonable costs of operating and maintaining the utility systems.

For FY 2026-27, those costs primarily include purchased electricity and natural gas, staffing, administrative and overhead expenses, regulatory compliance, and the maintenance and improvement of the electric and natural gas systems.

SUBCOMMITTEE FINDINGS

This item was not presented to a subcommittee.

Staff held a public informational meeting for Mare Island residents and businesses on August 4, 2026, to explain the proposed rate adjustments and future tariff revisions, answer questions, and receive feedback from ratepayers. This meeting was noticed to customers via bill inserts in May and June; an email sent on July 29, 2026; and a post on Island Energy's website.

The August 17, 2026, public hearing was noticed via bill inserts in June and July; emails sent on July 29, August 7, and August 14, 2026; in the Vallejo Times Herald on August 8 and 15, 2026; and posted on the Island Energy Website.

STAFF ANALYSIS

Higher purchased-energy costs, inflation, and the increasing cost of maintaining utility infrastructure have placed upward pressure on IE’s operating expenses. The proposed rate adjustments are therefore necessary to maintain the utility’s financial stability, support continued system maintenance and investment, and preserve reliable service on Mare Island.

Staff evaluated energy-price forecasts, historical and projected electric and natural gas consumption on Mare Island, anticipated operating and capital costs, and a range of cost and revenue scenarios. Based on this analysis, staff recommends the following rate adjustments. Unless otherwise specified, the applicable percentage increase would be applied to all charges within the affected rate schedule.

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• Residential Electric Service (RES-1): Staff proposes increasing the RES-1 rate by 3%, to $0.29072 per kilowatt-hour (kWh). As of July 31, 2026, the proposed rate is approximately 25.9% lower than PG&E’s Residential E-1 rate. • General Commercial Electric Service (CES-1): Staff proposes increasing the CES-1 rate by 4.5%, to $0.33909/kWh. As of July 31, 2026, the proposed rate is approximately 16.8% lower than PG&E’s General Commercial A-1 rate. • Large Commercial Electric Service (CES-2): Staff proposes increasing the CES-2 primary and secondary rates by 4%. The proposed rates are $0.29990/kWh for primary service and $0.31569/kWh for secondary service. As of July 31, 2026, the proposed rates are approximately 11% lower than PG&E’s Large Commercial A-10 rates.
• Streetlight Service (LS): Staff proposes increasing the LS rate by 10%, to $0.25772/kWh. As of July 31, 2026, the proposed rate is approximately 19.5% lower than PG&E’s Streetlight Service LS-1 and LS-2 rates. • Very Large Commercial and Industrial Service (CES-3 and CES-4): IE currently has no customers taking service under the CES-3 or CES-4 rate schedules. Staff recommends no changes to these schedules for FY 2026-27.

New pipeline safety requirements and required system improvements will necessitate additional investment in Mare Island’s natural gas distribution infrastructure. Because the system serves a comparatively small natural gas load, the cost of these improvements must be recovered over a limited customer base. Staff therefore proposes increasing IE’s natural gas delivery rate by 4.5%, to $1.2122 per therm. This adjustment will help support regulatory compliance, needed infrastructure investment, and the continued safe and reliable operation of the natural gas system.

The proposed FY 2026-27 rates are designed to recover the projected cost of providing electric and natural gas service, support required maintenance and infrastructure investment, and preserve the reliability and financial stability of IE’s utility operations.

Although the proposed adjustments vary by customer class, IE’s electric rates would remain below comparable PG&E rates based on the rate comparison completed as of July 31, 2026. Even with the proposed adjustments, IE’s electric rates are projected to remain below comparable PG&E rates across all affected customer classes. The recommended increases are intended to recover IE’s projected cost of service while preserving a meaningful rate advantage for Mare Island customers.

Future Tariff Amendments (to be considered at a later date):

In addition to the proposed rate adjustments, staff is currently preparing potential tariff revisions that will standardize administrative processes, improve cost recovery, align IE practices with applicable City guidelines and utility-industry practices, and provide customers with clearer requirements and expectations. While not a requested action as part of this item, these potential tariffs are noted below for reference:

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• Customer Project Deposits: Establish customer project deposits as a percentage of the total estimated project cost. This methodology will better reflect the staff time, materials, and other resources required for new construction and service- upgrade projects and will align IE’s practices more closely with utility-industry standards.
• Overdue Customer Project Invoices: Establish a late-fee structure for overdue customer project invoices. The fee may be calculated as a percentage of the unpaid invoice balance and is intended to encourage timely payment and ensure that IE recovers the cost of work performed on behalf of individual customers. • Service and One-Time Fees: Update shutoff, after-hours, and other one-time service fees so that they more accurately reflect the cost of providing the associated services. The revisions would also eliminate fees that are obsolete, unnecessary, or no longer applicable.
• Verification for New Service: Require applicants for new utility service to provide documentation verifying ownership or lawful tenancy. This requirement will help ensure that accounts are properly established and reduce billing and account- management disputes.
• Continuity of Service: Add provisions governing the transfer of utility service between customer accounts at the same service address. These provisions will help maintain continuity of service while clearly assigning responsibility for charges during account transitions.
• Medical and Low-Income Discounts: Require customers receiving medical or low-income billing discounts to periodically verify their continued eligibility or reapply for the applicable program. This will help ensure that discounts remain available to eligible customers and are administered consistently. • Net Surplus Energy Compensation: Revise the Net Surplus Energy Compensation Rate from $0.0707/kWh to $0.0700/kWh to reflect current market conditions.
• Commercial Electric-Vehicle Charging: Establish a Commercial Electric Vehicle Charging Station Rate Schedule. The new schedule will provide clear and consistent billing parameters as commercial EV charging facilities continue to develop on Mare Island.

As noted above, the proposed tariff revisions will be considered at a future meeting, but are provided here for informational purposes, as the rate schedules are incorporated into the Island Energy Tariff Schedules.

ATTACHMENT: Resolution for Rate Changes

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Resolution No. 26- Page 1 of 2 August 17, 2026

BEFORE THE GOVERNING BOARD OF THE PITTSBURG POWER COMPANY

OF THE CITY OF PITTSBURG

In the Matter of:

Approving Fiscal Year 2026-2027 )
Rate Schedules for Electricity and ) RESOLUTION NO. 26- Natural Gas Retail Services on Mare Island )

WHEREAS, Pittsburg Power Company (PPC), a joint powers agency, provides utility retail electric and natural gas services on Mare Island, Vallejo, under the name Island Energy; and

WHEREAS, pursuant to PPC’s responsibilities to set rates for providing retail electric and natural gas services on Mare Island, staff prepares and presents the Fiscal Year (“FY”) 2026-2027 Rate Schedules to PPC’s Governing Board for approval; and

WHEREAS, the Residential Electricity Rate Schedule RES-1 is proposed to be $0.29072/kWh, a 3.0% increase from its FY 2025-2026 rate schedule; and

WHEREAS, the General Commercial Electric Rate Schedule CES-1 at primary voltage is proposed to be $0.31930/kWh, a 4.5% increase from its FY 2025-2026 rate schedule, and

WHEREAS, the General Commercial Electric Rate Schedule CES-1 at secondary voltage is proposed to be $0.33909/kWh, a 4.5% increase from its FY 2025-2026 rate schedule, and

WHEREAS, the Large Commercial Electric Rate Schedule CES-2 at primary voltage is proposed to be $0.29990/kWh, a 4.0% increase from its FY 2025-2026 rate schedule; and

WHEREAS, the Large Commercial Electric Rate Schedule CES-2 at secondary voltage is proposed to be $0.31569/kWh, a 4.0% increase from its FY 2025-2026 rate schedule; and

WHEREAS, the FY 2026-2027 Street Light Electric Rate Schedule LS is proposed to be $0.25278/kWh, a 10.0% increase from its FY 2025-2026 rate schedule; and

WHEREAS, the natural gas delivery rate Schedule GS-1 and GS-2 are proposed to be $1.2122 per Therm, a 4.5 % increase from its FY 2025-2026 rate schedule; and

WHEREAS, the same percentage increase applies to meter and facility charges on the same rate schedule; and

WHEREAS, once the proposed rate schedules are adopted, the rates will remain effective from September 1, 2026, until the next utility rate change.

Page 41 of 478 ends

Resolution No. 26- Page 2 of 2 August 17, 2026

NOW, THEREFORE, BE IT RESOLVED that the Governing Board of the Pittsburg Power Company hereby approves the proposed Rate Schedules, as set forth in the recitals above; and

BE IT FURTHER RESOLVED that the Governing Board of the Pittsburg Power Company hereby authorizes the Executive Director to take such action necessary to implement the Island Energy FY 2026-2027 Rate Schedules.

PASSED AND ADOPTED by Governing Board of the Pittsburg Power Company of the City of Pittsburg at a regular meeting on the 17th day of August 2026, by the following votes:

AYES:

NOES:

ABSTAINED:

ABSENT:

__________________
Dionne Adams, Chair
ATTEST:

______________________________
Darin E. Gale, Executive Secretary

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STAFF REPORT

MEETING DATE: August 17, 2026

TO: Mayor/Chair and Council/Governing Board Members

FROM: Darin E. Gale‚ City Manager/Executive Director
Elena Adair, Director of Finance

SUBJECT: Public Hearing and Adoption of Resolutions Authorizing Issuance and Sale of Special Tax Bonds of the City of
Pittsburg, for and on behalf of Community Facilities District 2009-01 (San Marco), and Special Tax Revenue Bonds of
the City of Pittsburg Public Financing Authority

EXECUTIVE SUMMARY

Concurrently, the City of Pittsburg Public Financing Authority (the “Authority”) will issue an equivalent $25 million of special tax revenue bonds (“Authority Bonds”) to purchase the City Bonds.

FISCAL IMPACT

A portion of the bond proceeds will be available for General Fund uses, and the remaining amounts will be utilized to pay the purchase price owed by the City to the developer for authorized facilities within the District. Additionally, approximately $1 million of special tax funds will be made available to make improvements within the District at closing.

The Authority Bonds and City Bonds are being structured to generate surplus funds available for both the funding of additional facilities within the District. The City Bonds (which would not be sold to the public but would be acquired by the Authority using the proceeds of the Authority Bonds) are anticipated to be structured with interest rates above the interest rates on the publicly sold Authority Bonds. This difference in debt service between the City Bonds and Authority Bonds would be available for general

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uses.

Additional details, including good faith estimates required by the Government Code, are included in APPENDIX A.

RECOMMENDATION

Staff recommends that (1) the City hold a public hearing regarding the issuance of bonds by the Authority and make the required findings; (2) the City Council, following the public hearing, adopt a resolution authorizing the issuance of special tax bonds on behalf of the District, approving and directing the execution of a Fiscal Agent Agreement, approving sale of such bonds to the Authority, and approving other related documents and actions; and (3) the Authority Board of Directors (“Authority Board”) adopt a resolution authorizing the issuance of special tax revenue bonds and related purchase of special tax bonds, approving and directing the execution of an Indenture of Trust, approving the form of Preliminary Official Statement, approving sale of such bonds, and approving other related documents and actions.

BACKGROUND

The CFD was formed in 2009 to fund public improvements in the San Marco development. The CFD is largely built out, with 826 building permits issued as of June 30, 2025, out of the 921 total units, and is expected to be fully built out by 2028. The formation documents for District authorize the issuance of up to $25 million of bonds to fund public infrastructure within the CFD. To date, special taxes generated within the CFD have been utilized to pay the purchase price for authorized CFD facilities acquired by the City on a “pay-as-you-go” basis. Issuance of the Authority Bonds and City Bonds will satisfy the City’s remaining obligations to pay for the CFD facilities.

The Authority was established by a Joint Exercise of Powers Agreement dated as of January 1, 1991, by and among the City and the former Redevelopment Agency and is qualified to issue bonds under the Marks-Roos Local Bond Pooling Act of 1985. The Authority was formed to assist the City with the financing and refinancing of public capital improvements and has issued bonds multiple times in the past. The City Council members serve as the governing board of the Authority.

SUBCOMMITTEE FINDINGS

This item was not presented to a subcommittee meeting.

STAFF ANALYSIS

Authorization of the issuance and sale of the Authority Bonds and City Bonds will generate proceeds that can be used to pay for capital facilities of the City. It is anticipated that $25 million of Authority Bonds and $25 million of City Bonds will be sold for this purpose. The financing team anticipates seeking a rating on the Authority Bonds

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and utilizing bond insurance to ensure the lowest cost borrowing available. Given the land within the District is largely built-out, it is a relatively strong land-secured credit.

Documents to be approved include:

City Authorizing Resolution
The City Authorizing Resolution approves the sale of special tax bonds (referred to above as the “City Bonds”) by the City to the Authority. The net proceeds generated by the City Bonds will be used to pay the purchase price of the facilities constructed by the Seeno Companies and acquired by the City pursuant to an acquisition agreement entered into between the City and the Seeno Companies at the time of CFD formation. This resolution also authorizes execution and delivery of a Fiscal Agent Agreement, Local Obligations Purchase Agreement, Preliminary Official Statement, and other necessary documents to facilitate the issuance of bonds and the use of bond proceeds. It also establishes key bond sale parameters, setting a maximum True Interest Cost of 7.00%, a maximum underwriter discount of 0.85% of par, and maximum bond par amount of $25,000,000.

Authority Authorizing Resolution
The Authority Authorizing Resolution approves the sale of special tax revenue bonds by the Financing Authority to public market investors (referred to above as the “Authority Bonds”). The net proceeds generated by the Authority Bonds will be used to purchase the City Bonds. This resolution also authorizes execution and delivery of an Indenture of Trust, the Preliminary Official Statement, Bond Purchase Agreement with Piper Sandler as underwriter, Local Obligations Purchase Agreement, and other necessary documents to facilitate the issuance of bonds and the use of bond proceeds. It also establishes key bond sale parameters, setting a maximum True Interest Cost of 6.00%, a maximum underwriter discount of 0.85% of par, and maximum bond par amount of $25,000,000.

Fiscal Agent Agreement
The Fiscal Agent Agreement defines the terms under which the City Bonds are issued and sold and specifies that the City Bonds will be payable from special taxes levied and collected within the CFD. The Bank of New York Mellon Trust Company, N.A. (“BNY Mellon”), will serve as Fiscal Agent, and Goodwin Consulting Group will continue to administer special tax levies and collections as they have done since CFD formation. The Fiscal Agent Agreement includes various covenants and agreements, including a covenant for the City to initiate foreclosure proceedings if certain delinquency criteria are met.

Preliminary Official Statement
Both the City Resolution and the Authority Resolution authorize the distribution of the Preliminary Official Statement (“POS”), which includes information about the

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City, the CFD, the City Bonds, and the Authority Bonds, and discloses key financial and risk information to potential bond investors. Once final pricing details are confirmed, the POS will be converted into the final Official Statement.

The distribution of the Official Statement by the Authority/City is subject to federal securities laws, including the Securities Act of 1933 and the Securities Exchange Act of 1934. Under these laws, the Official Statement must include all facts that would be material to an investor in the bonds. Material information is information that would have a substantial likelihood of actual significance in the deliberations of a reasonable investor in deciding whether to buy or sell the bonds. If the City Council concludes that the preliminary Official Statement includes all facts that would be material to an investor, it must adopt a resolution that authorizes staff to execute a certificate to the effect that the preliminary Official Statement has been “deemed final.”
The Securities and Exchange Commission (the “SEC”), the agency with regulatory authority over compliance with the federal securities laws, has issued guidance as to the duties of elected bodies of municipalities with respect to their approval of a preliminary Official Statement. The SEC has indicated that, if a member of the City Council has knowledge of any facts or circumstances that an investor would want to know about prior to investing, whether relating to their repayment, tax-exempt status, undisclosed conflicts of interest with interested parties, or otherwise, he or she should endeavor to discover whether such facts are adequately disclosed in the preliminary Official Statement.

Indenture of Trust
The Indenture of Trust defines the terms under which Authority Bonds are issued and sold and specifies that the Authority Bonds will be payable from the proceeds of the City Bonds received by the trustee, on behalf of the Authority, as the owner of the City Bonds. BNY Mellon will serve as Trustee for the Authority Bonds. The Indenture of Trust establishes a reserve fund for the Authority Bonds to cover potential special tax delinquencies, which will be replenished through CFD tax levies.

Bond Purchase Agreement
The Bond Purchase Agreement is the legal document pursuant to which Authority Bonds will be sold by the Authority to Piper Sandler & Co., as underwriter, for further sale and distribution to ultimate purchasers. The Bond Purchase Agreement contains customary representations and warranties from the Authority and the City regarding the formation of the CFD and the issuance of both the City Bonds and the Authority Bonds, as well as conditions to the closing of the Authority Bonds.

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Local Obligations Purchase Agreement
The Local Obligations Purchase Agreement, which is between the City and the Authority, is the legal document pursuant to which the City sells the City Bonds to the Authority.

Amendment to the Acquisition Agreement

Mutually agreed upon changes to the acquisition agreement to ensure proper use of funds, disbursement of existing fund balance and other minor changes.

Should the City Authorizing Resolution and Authority Authorizing Resolution be approved, it is anticipated that the Preliminary Official Statement will be posted to potential investors on August 18th, with pricing to follow on August 26th and funding/closing to occur on September 9st. The estimated bond financing numbers included within this staff report and subject to change based on market conditions.

ATTACHMENTS:

City Resolution
Authority Resolution
Fiscal Agent Agreement
Preliminary Official Statement
Indenture of Trust
Bond Purchase Agreement
Local Obligations Purchase Agreement
Amendment to Acquisition, Funding and Disclosure Agreement

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Resolution No. 26- Page 1 of 5 August 17, 2026

BEFORE THE CITY COUNCIL OF THE CITY OF PITTSBURG

In the Matter of:

Issuance and Sale of Special Tax Bonds for )
And on behalf of City of Pittsburg Community )
Facilities District 2009-01(San Marco) and ) RESOLUTION NO. 26- Approving the Execution and Delivery of )
Documents and Other Matters Properly )
Relating thereto )

WHEREAS, the City of Pittsburg (the “City”) has conducted proceedings under and pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, Chapter

2.5 of Part 1 of Division 2 of Title 5 (commencing with Section 53311) of the California Government Code (the “Mello-Roos Act”) to form Community Facilities District 2009-01 (San Marco) (the “CFD”); and

WHEREAS, indebtedness for the CFD has been authorized to be issued in an amount not to exceed $25,000,000; and

WHEREAS, the City is authorized to levy special taxes upon the land within the CFD, to issue bonds secured by said special taxes, and to cause the proceeds of such authorized special taxes and bonds to be used to finance certain public improvements (the “Facilities”), all as described in the CFD formation proceedings; and

WHEREAS, the City of Pittsburg Public Financing Authority (the “Authority”) is a joint exercise of powers authority duly organized and existing under the provisions of Articles 1 through 4 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”), and is authorized pursuant to Article 4 of the Act (the “Bond Law”), among other things, to borrow money for the purpose of financing the acquisition of bonds, notes and other obligations and for financing public capital improvements of benefit to the City; and

WHEREAS, the City desires to issue Special Tax Bonds for the CFD (the “Bonds”) (constituting the “Local Obligations” to be purchased by the Authority) under the provisions of the Mello-Roos Act to finance Facilities, and the Authority has determined that it is in the best financial interests of the City and the CFD to assist and accommodate such financing; and

WHEREAS, the City wishes to sell the Bonds to the Authority and the Authority wishes to purchase the Bonds and designate the bond payments received thereon as security for bonds issued by the Authority; and

WHEREAS, for the purpose of purchasing the Bonds and thereby facilitating the financing of the Facilities, the Authority has determined to issue its Special Tax Revenue Bonds, Series 2026 (the “Authority Bonds”), pursuant to the Bond Law; and

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Resolution No. 26- Page 2 of 5 August 17, 2026
WHEREAS, as required by Section 6586.5 of the Bond Law, as applicable, the City previously caused publication of a notice of a public hearing on the financing of the Facilities once at least five days prior to the hearing in a newspaper of general circulation in the area of the City, held the required public hearing and made the required findings of significant public benefit, as required by the Bond Law; and

WHEREAS, for the proposed financing, there has been filed with the Council the forms of the following documents (together, the “Financing Documents”) to be executed by the City with respect to the issuance of the Bonds and Authority Bonds, which the Council desires to approve for execution as described herein:

1. Fiscal Agent Agreement (the “Fiscal Agent Agreement”), between the City and The Bank of New York Mellon Trust Company, N.A., as fiscal agent; ii. Local Obligations Purchase Agreement relating to the sale of the Bonds to the Authority, to be dated the date of sale of the Bonds, between the Authority and the City (the “Bonds Purchase Agreement”); and
iii. Preliminary Official Statement for the Authority Bonds (the “Preliminary Official Statement”), including a form of Continuing Disclosure Certificate for the Authority Bonds.

WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to and in the issuance of the Bonds and the Authority Bonds as contemplated by this Resolution and the documents referred to herein exist, have happened and have been performed in due time, form and manner as required by the laws of the State of California, including the Mello-Roos Act.

NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of Pittsburg, as follows:

1. Findings. This Council finds and determines that (i) it is prudent in the management and development of land in the City and the CFD to issue the Bonds to provide money for financing the acquisition of improvements, and the payment of certain fees, authorized to be financed by the CFD, and (ii) the Bonds and the CFD are substantially in compliance with the City’s Local Goals and Policies Regarding the Use of the Mello- Roos Community Facilities Act of 1982, with any deviations hereby approved.

2. Law Applicable. For the purposes of these proceedings in and for the CFD, the Mello- Roos Act shall be the authority for the issuance of the Bonds.

3. Bonds Authorized. Pursuant to the Mello-Roos Act, this Resolution and the Financing Documents, the City Council hereby authorizes the issuance of the Bonds in an aggregate principal amount not in excess of the principal amounts established herein. The Council finds that Contra Costa County assessed value of the parcels within the CFD subject to the special tax to be levied on property within the CFD is at least three times the proposed principal amount of the Bonds proposed to be issued and secured by such special tax plus the principal amount of all other bonds outstanding that are secured by a special tax levied on property within the CFD or a special assessment levied on property within the CFD, in conformance with Section 53345.8 of the Mello-Roos Act.

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Resolution No. 26- Page 3 of 5 August 17, 2026

4. Findings Relating to Financing of Facilities. The City Council hereby finds that issuance of the Authority Bonds for the purpose of financing the public facilities and acquiring the public facilities will result in significant public benefits of the type described in Section 6586 of the Bond Law, including, but not limited to, a more efficient delivery of City services to residential development and demonstrable savings in effective interest rate, bond preparation, bond underwriting and bond issuance costs. The City Council hereby acknowledges and approves the issuance of the Authority Bonds.

5. Authorities Granted. The City Manager, Finance Director, or such other official of the City as may be designated by such officer pursuant to Section 10 hereof (each, an “Authorized Officer”), each acting alone, is hereby authorized and directed to execute and deliver the documents approved herein in substantially the form on file with the City Clerk, together with such additions or changes as are approved by an Authorized Officer upon consultation with the City’s bond counsel and municipal advisor, including such additions or changes as are necessary or advisable to permit the timely issuance, sale and delivery of the Bonds. The approval of such additions or changes shall be conclusively evidenced by the execution and delivery by an Authorized Officer of the documents herein specified.

6. Fiscal Agent Agreement. The Bonds shall be issued under the terms of the Fiscal Agent Agreement. The City Council hereby approves the form of the Fiscal Agent Agreement in substantially the form presented to this City Council, together with any changes therein or additions thereto deemed advisable by an Authorized Officer. The date, manner of payment, principal amount, interest rate or rates, interest payment dates, denominations, form, manner of execution, place of payment, terms of redemption, costs of issuing and other terms of the Bonds shall be as provided in each Fiscal Agent Agreement as finally executed and delivered. The terms and provisions of the Fiscal Agent Agreement, as executed, are incorporated herein by this reference as if fully set forth herein. An Authorized Officer is hereby authorized and directed to execute the Fiscal Agent Agreement on behalf of the City and the CFD and the City Clerk is hereby authorized and directed to attest thereto. The Council hereby authorizes the delivery and performance of the Fiscal Agent Agreement.

In furtherance of the foregoing, the City hereby covenants, for the benefit of the owners of the Bonds and Authority Bonds, to commence and diligently pursue to completion any foreclosure action regarding delinquent installments of any amount levied as a special tax for the payment of interest or principal of any series of the Bonds, said foreclosure action to be commenced and pursued as more completely set forth in the Fiscal Agent Agreement.

7. Sale of Bonds to the Authority; Local Obligations Purchase Agreement. The form of the Local Obligations Purchase Agreement relating to the sale of the Bonds by the City to the Authority, to be dated the date of sale, between the City and the Authority is hereby approved, in substantially the form presented, which is consistent with the following requirements: the aggregate principal amount of the Bonds shall not be in excess of $25,000,000, and the true interest cost of the Bonds shall not be in excess of

7.00%. An Authorized Officer is hereby authorized and directed to execute the Local Obligations Purchase Agreement on behalf of the City and the City Clerk is hereby authorized and directed to attest thereto. The Council hereby authorizes the delivery and performance of the Local Obligations Purchase Agreement.

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Resolution No. 26- Page 4 of 5 August 17, 2026

8. Official Statement; Continuing Disclosure Certificate. The City Council hereby approves the Preliminary Official Statement prepared in connection with the Authority Bonds in substantially the form presented to this City Council, together with any changes therein or additions thereto deemed advisable by an Authorized Officer, each acting alone. The City Council hereby approves and authorizes the distribution by Piper Sandler & Co., as underwriter of the Authority Bonds, of the Preliminary Official Statement to prospective purchasers of the Authority Bonds, and authorizes and directs an Authorized Officer on behalf of the City to deem the Preliminary Official Statement “final” pursuant to Rule 15c2-12 under the Securities Exchange Act of 1934 (the “Rule”) prior to its distribution to prospective purchasers of the Authority Bonds. The subsequent execution of a final Official Statement is hereby authorized, which shall include then current financial information regarding the City and such other changes and additions to the Preliminary Official Statement deemed advisable by an Authorized Officer, and such execution shall be conclusive evidence of the approval of the final Official Statement by the City.

The City Council hereby approves the form of the Continuing Disclosure Certificate with respect to the Authority Bonds in substantially the form thereof attached to the Preliminary Official Statement. An Authorized Officer is hereby authorized and directed to complete and execute the Continuing Disclosure Certificate on behalf of the City (for and on behalf of itself and the Authority) with such changes, additions or deletions as may be approved by the Authorized Officer.

9. Approval of Amendment to Acquisition Agreement. The City Council hereby directs an Authorized Officer to cause preparation by the City’s Bond Counsel of an amendment to the Acquisition, Funding and Disclosure Agreement dated as of April 5, 2010 related to the CFD, in such form as is deemed necessary and approved by an Authorized Officer. Any Authorized Officer is authorized to and directed to execute each such amendment in a form deemed acceptable by the Authorized Officer executing the same, on such terms as the Authorized Officer and the City’s Bond Counsel deem appropriate.

10. Actions Authorized. All actions heretofore taken by the officers and agents of the City with respect to the establishment of the CFD, the designation of Improvement Areas therein and the sale and issuance of the Bonds and the Authority Bonds are hereby approved, confirmed and ratified, and the appropriate officers of the City, or their designee, are hereby authorized and directed to do any and all things and take any and all actions and execute any and all certificates, agreements and other documents, which they, or any of them, may deem necessary or advisable in order to consummate the lawful issuance and delivery of the Bonds and the Authority Bonds in accordance with this resolution, and any certificate, agreement, including amendment to an existing acquisition agreement, and other document described in the documents herein approved. All actions to be taken by an Authorized Officer, as defined herein, may be taken by such Authorized Officer or any designee, with the same force and effect as if taken by the Authorized Officer.

11. Effective Date. This Resolution shall take effect from and after the date of its passage and adoption.

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Resolution No. 26- Page 5 of 5 August 17, 2026
PASSED AND ADOPTED by the City Council of the City of Pittsburg at a regular meeting on the 17th day of August 2026 by the following vote:

AYES:

NOES:

ABSTAINED:

ABSENT:

____________________
Dionne Adams, Mayor
ATTEST:

__________________________
Alice E. Evenson, City Clerk

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Resolution No. 26- Page 1 of 4 August 17, 2026

BEFORE THE GOVERNING BOARD OF THE CITY OF PITTSBURG

PUBLIC FINANCING AUTHORITY

In the Matter of:

Issuance and Sale of Special Tax Revenue )
Bonds and Purchase of Special Tax Bonds )
Issued by the City of Pittsburg for its ) RESOLUTION NO. 26- Community Facilities District 2009-01 )
(San Marco), and Approving the Execution )
And Delivery of Documents and Other )
Matters Properly Relating Thereto )

WHEREAS, the City has conducted proceedings under and pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, Chapter 2.5 of Part 1 of Division 2 of Title 5 (commencing with Section 53311) of the California Government Code (the “Mello-Roos Act”) to form Community Facilities District 2009-01 (San Marco) (the “CFD”); and

WHEREAS, the City desires to issue Special Tax Bonds for the CFD (the “Local Obligations”) under the provisions of the Mello-Roos Act to finance Facilities and has determined that it is in the best financial interests of the City and the CFD for the Authority to assist and accommodate such financing; and

WHEREAS, the Authority has determined that it is in the best financial interests of the Authority to facilitate the financing of the Facilities by the City, and to that end the Authority wishes to purchase the Local Obligations and designate the bond payments received thereon as security for bonds issued by the Authority; and

WHEREAS, for the purpose of purchasing the Local Obligations and thereby facilitating the financing of the Facilities, the Authority has determined to issue its Special Tax Revenue Bonds, Series 2026, which may be issued in one or more series (the “Authority Bonds”), pursuant to the Bond Law; and

WHEREAS, as required by Section 6586.5 of the Bond Law, as applicable, the City previously caused publication of a notice of a public hearing on the financing of the

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Resolution No. 26- Page 2 of 4 August 17, 2026
Facilities once at least five days prior to the hearing in a newspaper of general circulation in the area of the City, held the required public hearing and made the required findings of significant public benefit, as required by the Bond Law; and

WHEREAS, for the proposed financing, there has been filed with the Board the forms of the following documents (together, the “Financing Documents”) to be executed by the Authority with respect to the issuance of the Authority Bonds, which the Board desires to approve for execution as described herein:

1. Indenture of Trust (the “Indenture”), between the Authority and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”); ii. Preliminary Official Statement for the Authority Bonds (the “Preliminary Official Statement”), including a form of Continuing Disclosure Certificate for the Authority Bonds;
iii. Bond Purchase Agreement relating to the sale of the Authority Bonds to Piper Sandler & Co., as underwriter (the “Underwriter”), to be dated the date of sale of the Authority Bonds, between the Authority and the Underwriter (the “Bond Purchase Agreement”); and
iv. Local Obligations Purchase Agreement relating to the sale of the Local Obligations to the Authority, to be dated the date of sale of the Authority Bonds, between the Authority and the City (the “Local Obligations Purchase Agreement”).

WHEREAS, in accordance with Government Code Section 5852.1, the Governing Board of the City of Pittsburg Public Financing Authority has obtained and disclosed the information required thereby.

NOW THEREFORE, BE IT RESOLVED, by the Governing Board of the City of Pittsburg Public Financing Authority, as follows:

1. Recitals. Each of the above recitals is true and correct and is adopted by the Board of Directors.

2. Bonds Authorized. The Authority Bonds shall be issued in an aggregate principal amount not to exceed $25,000,000 with the number of series, the exact principal amount, the interest rates and the maturity to be determined by the sale of the Authority Bonds as described in Section 5 below. The Authority Bonds shall be executed on behalf of the Authority by the manual or facsimile signature of the Chair, Executive Director or Treasurer (each an “Authorized Officer”), and the seal of the Authority, or a facsimile thereof, may be impressed or imprinted thereon and attested with the manual or facsimile signature of the Secretary of the Authority.

3. Indenture. The Authority Bonds shall be issued under the terms of the Indenture, the form of which is on file with the Secretary of the Board of Directors. The Board of Directors hereby approves the Indenture in substantially the form on file with the Secretary, together with any changes therein or additions thereto approved by, and the execution thereof by an Authorized Officer shall be conclusive evidence of such approval of any such changes or additions. The Board of Directors hereby authorizes and directs an Authorized Officer to execute, and the Secretary may attest and affix the

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Resolution No. 26- Page 3 of 4 August 17, 2026
seal of the Authority to, the final form of the Indenture for and in the name of the Authority. The Board of Directors hereby authorizes the delivery and performance of the Indenture.

4. Local Obligations Purchase Agreement. The Local Obligations shall be purchased by the Authority under the terms of the Local Obligations Purchase Agreement, the form of which is on file with the Secretary of the Board of Directors. The Board of Directors hereby approves the Local Obligations Purchase Agreement in substantially the form on file with the Secretary, together with any changes therein or additions thereto approved by, and the execution thereof by an Authorized Officer shall be conclusive evidence of such approval of any such changes or additions. The Board of Directors hereby authorizes and directs an Authorized Officer to execute, and the Secretary may attest and affix the seal of the Authority to, the final form of the Local Obligations Purchase Agreement for and in the name of the Authority. The Board of Directors hereby authorizes the delivery and performance of the Local Obligations Purchase Agreement.

5. Sale of the Bonds; Bond Purchase Agreement. The Board hereby approves the sale of the Authority Bonds by negotiation with Piper Sandler & Co. (the “Underwriter”) and pursuant to the Bond Purchase Agreement. The form of the Bond Purchase Agreement providing for the sale of the Authority Bonds by the Authority to the Underwriter presented at this meeting is hereby approved, together with any changes therein or additions thereto approved by, and the execution thereof by, an Authorized Officer shall be conclusive evidence of such approval of any such changes or additions. The Bond Purchase Agreement shall be executed in the name and on behalf of the Authority by an Authorized Officer upon submission of a proposal by the Underwriter to purchase the Authority Bonds, which offer is consistent with the following requirements: the amount of Underwriter’s discount shall be not more than 0.85% of the par amount thereof, the true interest cost shall not be in excess of 6.00% and the aggregate principal amount of the Authority Bonds shall not be in excess of $25,000,000. The Board hereby authorizes and directs an Authorized Officer to execute, and the Secretary may attest and affix the seal of the Authority to, the final form of the Bond Purchase Agreement for and in the name of the Authority. The Board hereby authorizes the delivery and performance of the Bond Purchase Agreement.

6. Official Statement. The form of the Preliminary Official Statement presented at this meeting is hereby approved and the Underwriter is hereby authorized to distribute the Preliminary Official Statement to prospective purchasers of the Authority Bonds in the form hereby approved, together with such additions thereto and changes therein as are determined necessary by an Authorized Officer, to make such Preliminary Official Statement final as of its date for purposes of Rule 15c2-12 of the Securities and Exchange Commission, including, but not limited to, such additions and changes as are necessary to incorporate the terms of any municipal bond insurance for the Authority Bonds and make the information therein accurate and not misleading. Each Authorized Officer is hereby authorized to execute a final Official Statement substantially in the form of the Preliminary Official Statement, together with such changes as are determined necessary by an Authorized Officer, or his or her designee, to make such Official Statement complete and accurate as of its date. The Underwriter is further authorized to distribute the final Official Statement for the Authority Bonds and any supplement thereto to the purchasers thereof upon its execution on behalf of the Authority, which execution by an Authorized Officer is hereby approved.

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Resolution No. 26- Page 4 of 4 August 17, 2026
The Board hereby approves the form of the Continuing Disclosure Certificate with respect to the Authority Bonds in substantially the form thereof attached to the Preliminary Official Statement.

7. Actions Authorized. All actions heretofore taken by the officers and agents of the City with respect to the sale and issuance of the Authority Bonds are hereby approved, confirmed and ratified, and the appropriate officers of the Authority, or their designee, are hereby authorized and directed to do any and all things and take any and all actions and execute any and all certificates, agreements and other documents, which they, or any of them, may deem necessary or advisable in order to consummate the lawful issuance and delivery of the Authority Bonds in accordance with this resolution, and any certificate, agreement, and other document described in the documents herein approved. All actions to be taken by an Authorized Officer, as defined herein, may be taken by such Authorized Officer or any designee, with the same force and effect as if taken by the Authorized Officer.

8. Effective Date. This Resolution shall take effect from and after the date of its passage and adoption.

PASSED AND APPROVED by the Governing Board of the City of Pittsburg Public Financing Authority at a regular meeting on the17th day of August 2026, by the following vote:

AYES:

NOES:

ABSTAINED

ABSENT:

__________________
Dionne Adams, Chair

ATTEST:
_____________________________
Alice E. Evenson, Agency Secretary

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Jones Hall Draft of July 17, 2026

FISCAL AGENT AGREEMENT

by and between

CITY OF PITTSBURG

and

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as Fiscal Agent

Dated as of September 1, 2026

Relating to:

$_____________
City of Pittsburg
Community Facilities District 2009-01
(San Marco)
Special Tax Bonds Series 2026

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TABLE OF CONTENTS

ARTICLE I

AUTHORITY AND DEFINITIONS
Section 1.01. Authority for this Agreement ...............................................................................3 Section 1.02. Agreement for Benefit of Bondowners ................................................................3 Section 1.03. Definitions ...........................................................................................................3

ARTICLE II

THE BONDS
Section 2.01. Principal Amount; Designation ..........................................................................11 Section 2.02. Terms of Bonds ................................................................................................11 Section 2.03. Redemption ......................................................................................................12 Section 2.04. Form of Bonds ..................................................................................................14 Section 2.05. Execution of Bonds ...........................................................................................14 Section 2.06. Transfer of Bonds .............................................................................................14 Section 2.07. Exchange of Bonds ...........................................................................................15 Section 2.08. Bond Register ...................................................................................................15 Section 2.09. Temporary Bonds .............................................................................................15 Section 2.10. Bonds Mutilated, Lost, Destroyed or Stolen .....................................................15 Section 2.11. Limited Obligation .............................................................................................16 Section 2.12. No Acceleration ................................................................................................16

ARTICLE III

ISSUANCE OF BONDS
Section 3.01. Issuance and Delivery of Bonds .......................................................................17 Section 3.02. Application of Proceeds of Sale of Bonds and Collection of Special Tax .........17 Section 3.03. Special Tax Fund ..............................................................................................17 Section 3.04. Improvement Fund ............................................................................................18

ARTICLE IV
SPECIAL TAX REVENUES; BOND FUND
Section 4.01. Pledge of Special Tax Revenues and Other Amounts. ....................................20 Section 4.02. Bond Fund ........................................................................................................20

ARTICLE V

OTHER COVENANTS OF THE CITY
Section 5.01. Punctual Payment .............................................................................................22 Section 5.02. Limited Obligation .............................................................................................22 Section 5.03. Extension of Time for Payment .........................................................................22 Section 5.04. Against Encumbrances .....................................................................................22 Section 5.05. Books and Accounts .........................................................................................22 Section 5.06. Protection of Security and Rights of Owners ....................................................22 Section 5.07. Compliance with Law; Completion of Project ...................................................23 Section 5.08. Private Activity Bond Limitation ........................................................................23 Section 5.09. Federal Guarantee Prohibition ..........................................................................23 Section 5.10. Collection of Special Tax Revenues .................................................................23 Section 5.11. Further Assurances ..........................................................................................23 Section 5.12. No Arbitrage ......................................................................................................24 Section 5.13. Maintenance of Tax-Exemption ........................................................................24 Section 5.14. Annual State Reports ........................................................................................24 Section 5.15. Covenant to Foreclose ......................................................................................24 Section 5.16. Continuing Disclosure to Owners .....................................................................25 Section 5.17. No Additional Bonds .........................................................................................25 Section 5.18. Yield of the Bonds .............................................................................................25

ARTICLE VI

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ii
INVESTMENTS; DISPOSITION OF INVESTMENT PROCEEDS; LIABILITY OF THE CITY Section 6.01. Deposit and Investment of Moneys in Funds ....................................................26 Section 6.02. Rebate of Excess Investment Earnings to the United States ...........................27 Section 6.03. Limited Obligation .............................................................................................27

ARTICLE VII

THE FISCAL AGENT
Section 7.01. Appointment of Fiscal Agent .............................................................................28 Section 7.02. Liability of Fiscal Agent .....................................................................................28 Section 7.03. Information ........................................................................................................29 Section 7.04. Notice to Fiscal Agent .......................................................................................29 Section 7.05. Compensation, Indemnification ........................................................................30

ARTICLE VIII

MODIFICATION OR AMENDMENT OF THIS AGREEMENT
Section 8.01. Amendments Permitted ....................................................................................31 Section 8.02. Owners’ Meetings .............................................................................................31 Section 8.03. Procedure for Amendment with Written Consent of Owners ............................32 Section 8.04. Disqualified Bonds ............................................................................................32 Section 8.05. Effect of Supplemental Agreement ...................................................................32 Section 8.06. Endorsement or Replacement of Bonds Issued After Amendments ................33 Section 8.07. Amendatory Endorsement of Bonds .................................................................33 Section 8.08. Opinion of Counsel Regarding Supplemental Agreement ................................33

ARTICLE IX

MISCELLANEOUS
Section 9.01. Benefits of Agreement Limited to Parties .........................................................34 Section 9.02. Successor is Deemed Included in All References to Predecessor ...................34 Section 9.03. Discharge of Agreement ...................................................................................34 Section 9.04. Execution of Documents and Proof of Ownership by Owners ..........................35 Section 9.05. Waiver of Personal Liability ..............................................................................35 Section 9.06. Notices to and Demands on City and Fiscal Agent ..........................................35 Section 9.07. Partial Invalidity .................................................................................................36 Section 9.08. Unclaimed Moneys ...........................................................................................36 Section 9.09. Applicable Law ..................................................................................................36 Section 9.10. Conflict with Act ................................................................................................36 Section 9.11. Conclusive Evidence of Regularity ...................................................................36 Section 9.12. Payment on Business Day ................................................................................36 Section 9.13. Counterparts .....................................................................................................36 Section 9.15. U.S.A. Patriot Act ..............................................................................................36

EXHIBIT A FORM OF BOND

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FISCAL AGENT AGREEMENT

THIS FISCAL AGENT AGREEMENT (the “Agreement”) is made and entered into and dated as of ____________ 1, 2026, by and between the City of Pittsburg, a municipal corporation and general law city, organized and existing under and by virtue of the Constitution and laws of the State of California (the “City”) for and on behalf of Community Facilities District 2009-01 (San Marco), City of Pittsburg, County of Contra Costa, State of California (the “District”), and The Bank of New York Mellon Trust Company, N.A., a national banking association duly organized and existing under the laws of the United States of America with a corporate trust office located in Los Angeles, California, as fiscal agent (the “Fiscal Agent”).

W I T N E S S E T H :

WHEREAS, on December 21, 2009, the City Council of the City formed the District pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (the “Act”); and

WHEREAS, also on December 21, 2009, of the City Council of the City, as legislative body of the District, established the bonded indebtedness limit for the District in the principal amount of not to exceed $25,000,000; and

WHEREAS, under the Act, the City Council is authorized to issue bonded indebtedness secured by special taxes levied within the District for the purpose of providing moneys for the construction and acquisition of improvements, and the payment of certain fees, authorized for the District; and

WHEREAS, under the provisions of the Act, on ________, 2026, the City Council of the City adopted its Resolution No. _______ (the “Resolution”), which resolution authorized the issuance of its City of Pittsburg Community Facilities District 2009-01 (San Marco) Special Tax Bonds Series 2026 to provide moneys for the construction and acquisition of improvements for the District and provided that said issuance would be in accordance with the Act and this Agreement, and authorized the execution hereof;

WHEREAS, the City of Pittsburg Public Financing Authority (the “Authority”) has determined to issue its Pittsburg Financing Authority Special Tax Revenue Bonds, Series 2026 (the “Authority Bonds”) pursuant to Article 4 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California and to purchase the Bonds and designate the payments thereon received by the Authority as security for Authority Bonds;

WHEREAS, it is in the public interest and for the benefit of the City, the District, the persons responsible for the payment of special taxes and the Owners of the Bonds that the City enter into this Agreement to provide for the issuance of the Bonds, the disbursement of proceeds of the Bonds, the disposition of the special taxes securing the Bonds authorized to be issued hereunder and the administration and payment of the Bonds; and

WHEREAS, the City has determined that all things necessary to cause the Bonds, when authenticated by the City for the District and issued as in the Act, the Resolution and this Agreement provided to be legal, valid and binding and special obligations of the City for the District in accordance with their terms, and all things necessary to cause the creation, authorization, execution and delivery of this Agreement and the creation, authorization, execution and issuance of the Bonds, subject to the terms hereof, have in all respects been duly authorized.

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2 NOW, THEREFORE, in consideration of the covenants and provisions herein set forth and for other valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows:

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3 ARTICLE I

AUTHORITY AND DEFINITIONS

Section 1.01. Authority for this Agreement. This Agreement is entered into pursuant to the provisions of the Act and the Resolution.

Section 1.02. Agreement for Benefit of Bondowners. The provisions, covenants and agreements herein set forth to be performed by or on behalf of the City shall be for the equal benefit, protection and security of the Owners. All of the Bonds, without regard to the time or times of their issuance or maturity, shall be of equal rank without preference, priority or distinction of any of the Bonds over any other thereof, except as expressly provided in or permitted by this Agreement. The Fiscal Agent may become the Owner of any of the Bonds in its own or any other capacity with the same rights it would have if it were not Fiscal Agent.

Section 1.03. Definitions. Unless the context otherwise requires, the terms defined in this Section 1.03 shall, for all purposes of this Agreement, of any Supplemental Agreement, and of any certificate, opinion or other document herein mentioned, have the meanings herein specified. All references herein to “Articles,” “Sections” and other subdivisions are to the corresponding Articles, Sections or subdivisions of this Agreement, and the words “herein,” “hereof,” “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or subdivision hereof.

“Acquisition Agreement” means the Acquisition, Funding and Disclosure Agreement, dated as of April 5, 2010, by and among the City, West Coast Home Builders, Inc., Seecon Financial & Construction Co., Inc. and San Marco Properties, LLC, and any amendments thereto.

“Act” means the Mello-Roos Community Facilities Act of 1982, as amended, being Sections 53311 et seq. of the California Government Code.

“Additional Bonds” means any bonds other than the Bonds issued pursuant to Section

5.17 hereof.

“Administrative Expense Priority” means an amount to compensate the City for its internal administrative expenses related to the District, in the amount of (i) for Fiscal Year 2026-27, $_______, and (ii) for each subsequent fiscal year, an amount equal to the preceding fiscal year’s Administrative Expense Priority plus an additional 2% of such amount.

“Administrative Expenses” means any or all of the following: the fees and expenses of the Fiscal Agent (including any fees or expenses of its counsel), the expenses of the City in carrying out its duties hereunder (including, but not limited to, the levying and collection of the Special Taxes, and the foreclosure of the liens of delinquent Special Taxes) including the fees and expenses of its counsel, an allocable share of the salaries of City staff directly related thereto and a proportionate amount of City general administrative overhead related thereto, any amounts paid by the City from its general funds pursuant to Section 6.02, and all other costs and expenses of the City or the Fiscal Agent incurred in connection with the issuance and administration of the Bonds and/or the discharge of their respective duties hereunder (including, but not limited to, the calculation of the levy of the Special Taxes, foreclosures with respect to delinquent taxes, and the calculation of amounts subject to rebate to the United States) and, in the case of the City, in any way related to the administration of the District. Administrative

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4 Expenses shall include any such expenses incurred in prior years but not yet paid, and any advances of funds by the City under Section 6.02 hereof.

“Agreement” means this Fiscal Agent Agreement, as it may be amended or supplemented from time to time by any Supplemental Agreement.

“Annual Debt Service” means, for each Bond Year, the sum of (i) the interest due on the Outstanding Bonds in such Bond Year, assuming that the Outstanding Bonds are retired as scheduled, and (ii) the principal amount of the Outstanding Bonds, including any mandatory sinking fund payments, due in such Bond Year.

“Authority” means the City of Pittsburg Public Financing Authority.

“Authority Indenture” means that certain Indenture of Trust, dated as of September 1, 2026, between the Authority and the Authority Trustee, pursuant to which the Authority Bonds are issued.

“Authority Reserve Fund” means the Reserve Fund by that name established pursuant to Authority Indenture.

“Authority Bonds” means the Authority’s Special Tax Revenue Bonds, Series 2026 issued under the Authority Indenture.

“Authority Trustee” means The Bank of New York Mellon Trust Company, N.A. or any successor thereto appointed pursuant to the Authority Indenture.

“Authorized Officer” means the City Manager, Finance Director, Administrative Services Director, or any other officer or employee authorized by the City Council of the City or by an Authorized Officer to undertake the action referenced in this Agreement as required to be undertaken by an Authorized Officer.

“Bond Counsel” means (i) Jones Hall LLP or (ii) any other attorney or firm of attorneys acceptable to the City and nationally recognized for expertise in rendering opinions as to the legality and tax-exempt status of securities issued by public entities.

“Bond Fund” means the fund by that name established pursuant to Section 4.02(A) hereof.

“Bonds” means the City of Pittsburg Community Facilities District 2009-01 (San Marco) Special Tax Bonds Series 2026 issued hereunder.

“Bond Year” means each twelve-month period beginning on September 2 in any year and extending to the next succeeding September 1, both dates inclusive; except that the first Bond Year shall begin on the Closing Date and end on September 1, 2027.

“Business Day” means any day other than (i) a Saturday or a Sunday or (ii) a day on which banking institutions in the state in which the Principal Office of the Fiscal Agent is located are authorized or obligated by law or executive order to be closed.

“CDIAC” means the California Debt and Investment Advisory Commission of the office of the State Treasurer of the State of California or any successor agency or bureau thereto.

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5 “City” means the City of Pittsburg, California.

“Closing Date” means September __, 2026, being the date upon which there is a physical delivery of the Bonds in exchange for the amount representing the purchase price of the Bonds by the Original Purchaser.

“Code” means the Internal Revenue Code of 1986 as in effect on the date of issuance of the Bonds or (except as otherwise referenced herein) as it may be amended to apply to obligations issued on the date of issuance of the Bonds, together with applicable temporary and final regulations promulgated, and applicable official public guidance published, under the Code.

“Continuing Disclosure Certificate” means the Continuing Disclosure Certificate, dated September 1, 2026, by and among the City and Goodwin Consulting Group, Inc., in its capacity as Dissemination Agent, as originally executed and as it may be amended from time to time in accordance with the terms thereof.

“Debt Service Account” means the account of the Special Tax Fund by that name established by Section 3.03(A) hereof.

“Debt Service” means the scheduled amount of interest and amortization of principal payable on the Bonds during the period of computation, excluding amounts scheduled during such period which relate to principal which has been retired before the beginning of such period.

“District” means the Community Facilities District 2009-01 (San Marco), City of Pittsburg, County of Contra Costa, State of California established pursuant to the Resolution of Formation.

“Fair Market Value” means the price at which a willing buyer would purchase the investment from a willing seller in a bona fide, arm’s length transaction (determined as of the date the contract to purchase or sell the investment becomes binding) if the investment is traded on an established securities market (within the meaning of Section 1273 of the Code) and, otherwise, the term “Fair Market Value” means the acquisition price in a bona fide arm’s length transaction (as referenced above) if (i) the investment is a certificate of deposit that is acquired in accordance with applicable regulations under the Code, (ii) the investment is an agreement with specifically negotiated withdrawal or reinvestment provisions and a specifically negotiated interest rate (for example, a guaranteed investment contract, a forward supply contract or other investment agreement) that is acquired in accordance with applicable regulations under the Code, (iii) the investment is a United States Treasury Security—State and Local Government Series that is acquired in accordance with applicable regulations of the United States Bureau of Public Debt, or (iv) the investment is the Local Agency Investment Fund of the State of California, but only if at all times during which the investment is held its yield is reasonably expected to be equal to or greater than the yield on a reasonably comparable direct obligation of the United States.

“Federal Securities” means any of the following which are non-callable and which at the time of investment are legal investments under the laws of the State of California for funds held by the Fiscal Agent (the Fiscal Agent entitled to rely upon investment direction from the City as a certification that such investment constitutes a legal investment).

(i) Direct general obligations of the United States of America (including obligations issued or held in book-entry form on the books of the United States Department of the Treasury) and obligations, the payment of principal of and interest on which are

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6 directly or indirectly guaranteed by the United States of America, including, without limitation, such of the foregoing which are commonly referred to as “stripped” obligations and coupons; or

(ii) Any of the following obligations of the following agencies of the United States of America: (i) direct obligations of the Export-Import Bank, (ii) certificates of beneficial ownership issued by the Farmers Home Administration, (iii) participation certificates issued by the General Services Administration, (iv) mortgage-backed bonds or pass-through obligations issued and guaranteed by the Government National Mortgage Association, (v) project notes issued by the United States Department of Housing and Urban Development, and (vi) public housing notes and bonds guaranteed by the United States of America.

“Finance Director” means the Finance Director, including any acting or interim Finance Director, of the City, or the Administrative Services Director or a person serving in a similar capacity, or a designee of such person, or the City Manager.

“Fiscal Agent” means the Fiscal Agent appointed by the City and acting as an independent fiscal agent with the duties and powers herein provided, its successors and assigns, and any other corporation or association which may at any time be substituted in its place, as provided in Section 7.01.

“Fiscal Year” means the twelve-month period extending from July 1 in a calendar year to June 30 of the succeeding year, both dates inclusive.

“Improvement Fund” means the fund by that name established pursuant to Section 3.04(A) hereof.

“Interest Payment Dates” means March 1 and September 1 of each year, commencing March 1, 2027.

“Maximum Annual Debt Service” means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.

“Officer’s Certificate” means a written certificate of the City signed by an Authorized Officer of the City.

“Ordinance” means any ordinance of the City levying the Special Taxes.

“Original Purchaser” means the Authority Trustee, acting on behalf of the Authority.

“Outstanding,” when used as of any particular time with reference to Bonds, means (subject to the provisions of Section 8.04) all Bonds except (i) Bonds theretofore canceled by the Fiscal Agent or surrendered to the Fiscal Agent for cancellation; (ii) Bonds paid or deemed to have been paid within the meaning of Section 9.03; and (iii) Bonds in lieu of or in substitution for which other Bonds shall have been authorized, executed, issued and delivered by the City pursuant to the Agreement or any Supplemental Agreement.

“Owner” or “Bondowner” means any person who shall be the registered owner of any Outstanding Bond.

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7 “Participating Underwriter” shall have the meaning ascribed thereto in the Continuing Disclosure Certificate entered into by the Authority in connection with the issuance of the Authority Bonds.

“Permitted Investments” means any of the following, to the extent that they are lawful investments for City funds at the time of investment, and are acquired at Fair Market Value (the Fiscal Agent entitled to rely upon investment direction from the City as a certification that such investment constitutes a legal investment):

(i) Federal Securities;

(ii) any of following obligations of federal agencies not guaranteed by the United States of America: (a) debentures issued by the Federal Housing Administration; (b) participation certificates or senior debt obligations of the Federal Home Loan Mortgage Corporation or Farm Credit Banks (consisting of Federal Land Banks, Federal Intermediate Credit Banks or Banks for Cooperatives); (c) bonds or debentures of the Federal Home Loan Bank Board established under the Federal Home Loan Bank Act, bonds of any federal home loan bank established under said act and stocks, bonds, debentures, participations and other obligations of or issued by the Federal National Mortgage Association, the Student Loan Marketing Association, the Government National Mortgage Association and the Federal Home Loan Mortgage Corporation; and bonds, notes or other obligations issued or assumed by the International Bank for Reconstruction and Development;

(iii) interest-bearing demand or time deposits (including certificates of deposit) in federal or State of California chartered banks (including the Fiscal Agent), provided that (a) in the case of a savings and loan association, such demand or time deposits shall be fully insured by the Federal Deposit Insurance Corporation, or the unsecured obligations of such savings and loan association shall be rated in one of the top two rating categories by a nationally recognized rating service, and (b) in the case of a bank, such demand or time deposits shall be fully insured by the Federal Deposit Insurance Corporation, or the unsecured obligations of such bank (or the unsecured obligations of the parent bank holding company of which such bank is the lead bank) shall be rated in one of the top two rating categories by a nationally recognized rating service;

(iv) repurchase agreements with a registered broker/dealer subject to the Securities Investors Protection Corporation Liquidation in the event of insolvency, or any commercial bank provided that: (a) the unsecured obligations of such bank shall be rated in one of the top two rating categories by a nationally recognized rating service, or such bank shall be the lead bank of a banking holding company whose unsecured obligations are rated in one of the top two rating categories by a nationally recognized rating service; (b) the most recent reported combined capital, surplus an undivided profits of such bank shall be not less than $100 million; (c) the repurchase obligation under any such repurchase obligation shall be required to be performed in not more than 30 days; (d) the entity holding such securities as described in clause (c) shall have a pledged first security interest therein for the benefit of the Fiscal Agent under the California Commercial Code or pursuant to the book-entry procedures described by 31 C.F.R. 306.1 et seq. or 31 C.F.R. 350.0 et seq. and are rated in one of the top two rating categories by a nationally recognized rating service;

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8 (v) bankers acceptances endorsed and guaranteed by banks described in clause (iv) above;

(vi) obligations, the interest on which is exempt from federal income taxation under Section 103 of the Code and which are rated in the one of the top two rating categories by a nationally recognized rating service;

(vii) money market funds which invest solely in Federal Securities or in obligations described in the preceding clause (ii) of this definition, or money market funds which are rated in the highest rating category by Standard & Poor’s Ratings Services or Moody’s Investor Service, including funds which are managed or maintained by the Fiscal Agent;

(viii) units of a taxable government money market portfolio comprised solely of obligations listed in (i) and (iv) above;

(ix) any investment which is a legal investment for proceeds of the Bonds at the time of the execution of such agreement, and which investment is made pursuant to an agreement between the City or the Fiscal Agent or any successor Fiscal Agent and a financial institution or governmental body whose long term debt obligations are rated in one of the top two rating categories by a nationally recognized rating service;

(x) commercial paper of “prime” quality of the highest ranking or of the highest letter and numerical rating as provided for by Moody’s Investors Service, or Standard and Poor’s Corporation, of issuing corporations that are organized and operating within the United States and having total assets in excess of $500,000,000, and having a rating of at least “AA” (without regard to qualifier) for the issuer’s debentures, other than commercial paper, as provided for by Moody’s Investors Service or Standard and Poor’s Corporation, and provided that purchases of eligible commercial paper may not exceed 180 days maturity nor represent more than 10 percent of the outstanding paper of an issuing corporation;

(xi) any general obligation of a bank or insurance company whose long term debt obligations are rated in one of the two highest rating categories of a national rating service;

(xii) shares in a common law trust established pursuant to Title 1, Division 7, Charter 5 of the Government Code of the State which invests exclusively in investments permitted by Section 53635 of Title 5, Division 2, Chapter 4 of the Government Code of the State, as it may be amended;

(xiii) shares in the California Asset Management Program;

(xiv) the Local Agency Investment Fund established pursuant to Section 16429.1 of the Government Code of the State of California, provided, however, that the Fiscal Agent will be permitted to make investments and withdrawals in its own name and the Fiscal Agent may restrict investments in the such fund if necessary to keep moneys available for the purposes of this Fiscal Agent Agreement; or

(xv) any other lawful investment for City funds.

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9 “Prepayment Account” means the account of the Bond Fund by that name established by Section 4.02(A) hereof.

“Principal Office” means the corporate trust office of the Fiscal Agent set forth in Section 9.06, or such other or additional offices as may be designated by the Fiscal Agent.

“Project” means the acquisitions and improvements described in the Resolution of Formation and pursuant to the Acquisition Agreement and any joint community facilities agreements, including actual costs related thereto, including costs incurred for formation of the District.

“Rate and Method” means the Rate and Method of Apportionment of Special Tax for The District, as initially approved and as may be amended.

“Record Date” means the 15th day of the month next preceding the month of the applicable Interest Payment Date whether or not such day is a Business Day.

“Regulations” means temporary and permanent regulations promulgated under the Code.

“Reserve Requirement” means, initially, the amount of $____________, and thereafter any lesser amount, if and to the extent determined by the Authority.

“Resolution” means Resolution No. _______, adopted by the City Council of the City on [August 3], 2026, which resolution authorized the issuance of the Bonds.

“Resolution of Formation” means Resolution No. 09-11366, adopted by the City Council of the City of Pittsburg on December 21, 2009 establishing the District.

“Series” means any series of bonds authorized for the District pursuant to this Fiscal Agent Agreement or any Supplemental Agreement.

“Special Tax Administrator” means Goodwin Consulting Group, Inc., Sacramento, California, or any other entity which may at any time be substituted in its place by the City.

“Special Tax Fund” means the fund by that name established by Section 3.03(A) hereof.

“Special Tax” means the “Special Tax” as defined in the Rate and Method, levied within the District pursuant to the Act, the Ordinance and this Agreement.

“Special Tax Revenues” means the proceeds of the Special Taxes annually received by the City, excluding any interest and penalties thereon collected in connection with delinquent Special Taxes, less an amount equal to the Administrative Expense Priority, including all scheduled payments and delinquent payments thereof, and proceeds of the redemption or sale of property sold as a result of foreclosure of the lien of the Special Taxes.

“Supplemental Agreement” means an agreement which is amendatory of or supplemental to this Agreement, but only if and to the extent that such agreement is specifically authorized hereunder.

“Surplus Account” means the account of the Special Tax Fund by that name established by Section 3.03(A) hereof.

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11 ARTICLE II

THE BONDS

Section 2.01. Principal Amount; Designation. Bonds in the aggregate principal amount of $_____________ are hereby authorized to be issued by the City for the District under and subject to the terms of the Resolution and this Agreement, the Act and other applicable laws of the State of California. The Bonds shall be designated the “City of Pittsburg Community Facilities District 2009-01 (San Marco) Special Tax Bonds Series 2026.”

Section 2.02. Terms of Bonds.

(A) Form; Denominations. The Bonds shall be issued as fully registered Bonds without coupons in the denomination of $5,000 or any integral multiple of $5,000 in excess thereof. The Bonds shall be lettered and numbered in a customary manner as determined by the Fiscal Agent.

(B) Date of Bonds. The Bonds shall be dated the Closing Date for the Bonds.

(C) CUSIP Identification Numbers. So long as the Bonds are registered to the Original Purchaser no “CUSIP” identification numbers shall be assigned to the Bonds.

(D) Maturities. The Bonds shall be issued as serial bonds and shall mature and become payable as follows:

Maturity Date
(September 1)
Principal
Amount
Interest
Rate

(T)
(T) Term Bond.

(E) Interest. The Bonds shall bear interest at the rates set forth above payable on the Interest Payment Dates in each year. Interest shall be calculated on the basis of a 360-day year composed of twelve 30-day months. Each Bond shall bear interest from the Interest Payment Date next preceding the date of authentication thereof unless (i) it is authenticated on an Interest Payment Date, in which event it shall bear interest from such date of authentication, or (ii) it is authenticated prior to an Interest Payment Date and after the close of business on the Record Date preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or (iii) it is authenticated prior to the Record Date preceding the first Interest Payment Date, in which event it shall bear interest from the Closing Date; provided, however, that if at the time of authentication of a Bond, interest is in default thereon, such Bond shall bear interest from the Interest Payment Date to which interest has previously been paid or made available for payment thereon.

(F) Method of Payment. The principal of and interest on the Bonds and any premium thereon are payable in lawful money of the United States of America. So long as the Original

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12 Purchaser is the owner of the Bonds the Fiscal Agent may transfer payments to the Authority Trustee in whatsoever manner the Fiscal Agent and Authority Trustee deem expeditious.

All Bonds paid by the Fiscal Agent pursuant to this Section shall be cancelled by the Fiscal Agent. The Fiscal Agent shall destroy the cancelled Bonds and issue a certificate of destruction thereof to the City.

Section 2.03. Redemption.

(A) Redemption Dates.

(i) Optional Redemption. The Bonds are subject to redemption prior to their respective stated maturities at the option of the City, from moneys deposited by the Authority or the City from any source of available funds, as a whole or in part (in such maturities as may be specified by the City and at random within a maturity) on any date on and after September 1, _____ at the following respective redemption prices (expressed as percentages of the principal amount of the Bonds to be redeemed), plus accrued interest thereon to the date of redemption:

Redemption Dates
Redemption
Price
September 1, ____ through August 31, ____ 103%
September 1, ____ through August 31, ____ 102
September 1, ____ through August 31, ____ 101
September 1, ____ and any date thereafter 100

(ii) Mandatory Redemption From Prepayments. The Bonds are subject to mandatory redemption from prepayments of the Special Tax by property owners, in whole or in part among maturities as shall be specified by the City and by lot within a maturity, on any Interest Payment Date at the following respective redemption prices (expressed as percentages of the principal amount of the Bonds to be redeemed), plus accrued interest thereon to the date of redemption:

Redemption Dates
Redemption
Price
September 1, ____ through and including March 1, ____ 103% September 1, ____ and March 1, ____ 102
September 1, ____ and March 1, ____ 101
September 1, ____ and any Interest Payment Date thereafter 100

(iii) Mandatory Sinking Fund Redemption. The Bonds maturing September 1, _____ and September 1, ____ are subject to mandatory sinking payment redemption in part on September 1, _____ and September 1, ____, respectively,and on each September 1 thereafter to maturity, by lot, at a redemption price equal to 100% of the principal amount thereof to be redeemed, without premium, in the aggregate respective principal amounts as set forth in the following tables:

Term Bonds Maturing September 1, _____

Sinking Fund
Redemption Date
(September 1)

Sinking Fund Payment

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13 (maturity)

Term Bonds Maturing September 1, _____

Sinking Fund
Redemption Date
(September 1)

Sinking Fund Payment

(maturity)

The amounts in the foregoing tables shall be reduced pro rata at the direction of the City in an Officer’s Certificate, in order to maintain substantially uniform debt service, as a result of any prior partial redemption of the Bonds pursuant to Section 2.03(A)(i) or (ii) above.

In lieu of redemption under this Section 2.03, moneys in the Bond Fund may be used and withdrawn by the Fiscal Agent for purchase of Outstanding Bonds, upon the filing with the Fiscal Agent of an Officer’s Certificate requesting such purchase, at public or private sale as and when, and at such prices (including brokerage and other charges) as such Officer’s Certificate may provide, but in no event may Bonds be purchased at a price in excess of the principal amount thereof, plus interest accrued to the date of purchase.

(B) Notice to Fiscal Agent. The City shall give the Fiscal Agent an Officer’s Certificate containing notice of its intention to redeem Bonds pursuant to subsections (A)(i) and (A)(ii) not less than 45 days prior to the applicable redemption date.

(C) Redemption Procedure by Fiscal Agent. The Fiscal Agent shall cause notice of any redemption to be mailed by first class mail, postage prepaid, at least 20 days but not more than 60 days prior to the date fixed for redemption, to the respective registered Owners of any Bonds designated for redemption, at their addresses appearing on the Bond registration books in the Principal Office of the Fiscal Agent; but such mailing shall not be a condition precedent to such redemption and failure to mail or to receive any such notice, or any defect therein, shall not affect the validity of the proceedings for the redemption of such Bonds. Notwithstanding the foregoing, so long as the Original Purchaser is the owner of the Bonds giving of notice shall notice shall not be required.

The City has the right to rescind any notice of the redemption of Bonds under Section

2.03(A)(i) by written notice to the Fiscal Agent on or prior to two Business Days prior the date fixed for redemption. Any notice of redemption shall be cancelled and annulled if for any reason funds will not be or are not available on the date fixed for redemption for the payment in full of the Bonds then called for redemption, and such cancellation shall not constitute an event of default. The City and the Fiscal Agent have no liability to the Owners or any other party related to or arising from such rescission of redemption. The Fiscal Agent shall mail notice of such rescission of redemption in the same manner as the original notice of redemption was sent under this Section.

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14 Upon the payment of the redemption price of Bonds being redeemed, each check or other transfer of funds issued for such purpose shall, to the extent practicable, bear the CUSIP number, if any, identifying, by issue and maturity, of the Bonds being redeemed with the proceeds of such check or other transfer.

Whenever provision is made in this Agreement for the redemption of less than all of the Bonds of any maturity, the Fiscal Agent shall select the Bonds to be redeemed, from all Bonds or such given portion thereof of such maturity by lot in any manner which the Fiscal Agent in its sole discretion shall deem appropriate.

Upon surrender of Bonds redeemed in part only, the City shall execute and the Fiscal Agent shall authenticate and deliver to the registered Owner, at the expense of the City, a new Bond or Bonds, of the same series and maturity, of authorized denominations in aggregate principal amount equal to the unredeemed portion of the Bond or Bonds.

(D) Effect of Redemption. From and after the date fixed for redemption, if funds available for the payment of the principal of, and interest and any premium on, the Bonds so called for redemption shall have been deposited in the Bond Fund, such Bonds so called shall cease to be entitled to any benefit under this Agreement other than the right to receive payment of the redemption price, and no interest shall accrue thereon on or after the redemption date specified in such notice.

All Bonds redeemed and purchased by the Fiscal Agent pursuant to this Section shall be canceled by the Fiscal Agent. The Fiscal Agent shall destroy the cancelled Bonds and issue a certificate of destruction thereof to the City.

Section 2.04. Form of Bonds. The Bonds, the form of Fiscal Agent’s certificate of authentication and the form of assignment, to appear thereon, shall be substantially in the forms, respectively, set forth in Exhibit A attached hereto and by this reference incorporated herein, with necessary or appropriate variations, omissions and insertions, as permitted or required by this Agreement, the Resolution and the Act.

Section 2.05. Execution of Bonds. The Bonds shall be executed on behalf of the City by the Mayor and the City Clerk of the City who are in office on the date of adoption of this Agreement or at any time thereafter, and the seal of the City shall be impressed, imprinted or reproduced by facsimile signature thereon. If any officer whose signature appears on any Bond ceases to be such officer before delivery of the Bonds to the Owner, such signature shall nevertheless be as effective as if the officer had remained in office until the delivery of the Bonds to the Owner. Any Bond may be signed and attested on behalf of the City by such persons as at the actual date of the execution of such Bond shall be the proper officers of the City although at the nominal date of such Bond any such person shall not have been such officer of the City.

Only such Bonds as shall bear thereon a certificate of authentication in substantially the form set forth in Exhibit A, executed and dated by the Fiscal Agent, shall be valid or obligatory for any purpose or entitled to the benefits of this Agreement, and such certificate of authentication of the Fiscal Agent shall be conclusive evidence that the Bonds registered hereunder have been duly authenticated, registered and delivered hereunder and are entitled to the benefits of this Agreement.

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15 Section 2.06. Transfer of Bonds. Any Bond may, in accordance with its terms, be transferred, upon the books required to be kept pursuant to the provisions of Section 2.08 by the person in whose name it is registered, in person or by his duly authorized attorney, upon surrender of such Bond for cancellation, accompanied by delivery of a duly written instrument of transfer in a form acceptable to the Fiscal Agent. The cost for any services rendered or any expenses incurred by the Fiscal Agent in connection with any such transfer shall be paid by the City. The Fiscal Agent shall collect from the Owner requesting such transfer any tax or other governmental charge required to be paid with respect to such transfer.

Whenever any Bond or Bonds shall be surrendered for transfer, the City shall execute and the Fiscal Agent shall authenticate and deliver a new Bond or Bonds, for a like aggregate principal amount of Bonds of authorized denominations and of the same maturity.

No transfers of Bonds shall be required to be made (i) within fifteen (15) days prior to the date established by the Fiscal Agent for selection of Bonds for redemption or (ii) with respect to a Bond after such Bond has been selected for redemption.

Section 2.07. Exchange of Bonds. Bonds may be exchanged at the Principal Office of the Fiscal Agent for a like aggregate principal amount of Bonds of authorized denominations and of the same maturity. The cost for any services rendered or any expenses incurred by the Fiscal Agent in connection with any such exchange shall be paid by the City. The Fiscal Agent shall collect from the Owner requesting such exchange any tax or other governmental charge required to be paid with respect to such exchange.

No exchanges of Bonds shall be required to be made (i) within fifteen (15) days prior to the date established by the Fiscal Agent for selection of Bonds for redemption or (ii) with respect to a Bond after such Bond has been selected for redemption.

Section 2.08. Bond Register. The Fiscal Agent will keep or cause to be kept, at its Principal Office, sufficient books for the registration and transfer of the Bonds (the “Bond Register”), which books shall show the series number, date, amount, rate of interest and Owner of each Bond and shall at all times be open to inspection by the City during regular business hours upon reasonable notice; and, upon presentation for such purpose, the Fiscal Agent shall, under such reasonable regulations as it may prescribe, register or transfer or cause to be registered or transferred, on said books, the ownership of the Bonds as hereinbefore provided.

Section 2.09. Temporary Bonds. The Bonds may be initially issued in temporary form exchangeable for definitive Bonds when ready for delivery. The temporary Bonds may be printed, lithographed or typewritten, shall be of such denominations as may be determined by the City, and may contain such reference to any of the provisions of this Agreement as may be appropriate.

Every temporary Bond shall be executed by the City upon the same conditions and in substantially the same manner as the definitive Bonds. If the City issues temporary Bonds it will execute and furnish definitive Bonds without delay and thereupon the temporary Bonds shall be surrendered, for cancellation, in exchange for the definitive Bonds at the Principal Office of the Fiscal Agent or at such other location as the Fiscal Agent shall designate, and the Fiscal Agent shall authenticate and deliver in exchange for such temporary Bonds an equal aggregate principal amount of definitive Bonds of authorized denominations. Until so exchanged, the temporary bonds shall be entitled to the same benefits under this Agreement as definitive Bonds authenticated and delivered hereunder.

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16 Section 2.10. Bonds Mutilated, Lost, Destroyed or Stolen. If any Bond shall become mutilated, the City shall execute, and the Fiscal Agent shall authenticate and deliver, a new Bond of like tenor and principal amount in exchange and substitution for the Bond so mutilated, but only upon surrender to the Fiscal Agent of the Bond so mutilated. Every mutilated Bond so surrendered to the Fiscal Agent shall be canceled by it and destroyed by the Fiscal Agent who shall deliver a certificate of destruction thereof to the City. If any Bond shall be lost, destroyed or stolen, evidence of such loss, destruction or theft may be submitted to the Fiscal Agent and, if such evidence be satisfactory to it and indemnity for the Fiscal Agent and the City satisfactory to the Fiscal Agent shall be given, the City shall execute, and the Fiscal Agent shall authenticate and deliver, a new Bond of like tenor and principal amount in lieu of and in substitution for the Bond so lost, destroyed or stolen. The City may require payment of a sum not exceeding the actual cost of preparing each new Bond delivered under this Section and of the expenses which may be incurred by the City and the Fiscal Agent for the preparation, execution, authentication and delivery. Any Bond delivered under the provisions of this Section in lieu of any Bond alleged to be lost, destroyed or stolen shall constitute an original additional contractual obligation on the part of the City whether or not the Bond so alleged to be lost, destroyed or stolen is at any time enforceable by anyone, and shall be equally and proportionately entitled to the benefits of this Agreement with all other Bonds issued pursuant to this Agreement.

Section 2.11. Limited Obligation. All obligations of the City under this Agreement and the Bonds shall be special obligations of the City, payable solely from the Special Tax Revenues and the funds pledged therefore hereunder. Neither the full faith and credit nor the taxing power of the City (except to the limited extent set forth herein) or the State of California or any political subdivision thereof is pledged to the payment of the Bonds.

Section 2.12. No Acceleration. The principal of the Bonds shall not be subject to acceleration hereunder. Nothing in this Section 2.12 shall in any way prohibit the redemption of Bonds under Section 2.03 hereof, or the defeasance of the Bonds and discharge of this Agreement under Section 9.03 hereof.

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17 ARTICLE III

ISSUANCE OF BONDS

Section 3.01. Issuance and Delivery of Bonds. At any time after the execution of this Agreement, the City may issue the Bonds in the aggregate principal amount set forth in Section 2.01 or as authorized in any supplemental agreement and deliver such Bonds to the Original Purchaser. The Authorized Officers of the City are hereby authorized and directed to deliver any and all documents and instruments necessary to cause the issuance of Bonds in accordance with the provisions of the Act, the Resolution and this Agreement, to authorize the payment of costs of issuance of the Bonds and Authority Bonds from the proceeds of the Bonds and to do and cause to be done any and all acts and things necessary or convenient for delivery of the Bonds to the Original Purchaser.

Section 3.02. Application of Proceeds of Sale of Bonds.

The proceeds of the purchase of the Bonds by the Original Purchaser in the amount of $____________, calculated as the principal amount thereof ($_____________.00) plus net original issue premium of $____________ and less cost of the Underwriter’s discount, costs of issuance, and Reserve Requirement for the Authority Bonds totaling $____________, shall be paid to the Fiscal Agent, who shall forthwith deposit all of such proceeds on the Closing Date into the Improvement Fund.

Section 3.03. Special Tax Fund.

(A) Establishment of Special Tax Fund. There is hereby established as a separate fund to be held by the Finance Director, known as City of Pittsburg Community Facilities District 2009-01 (San Marco) Special Tax Bonds, Series 2026, Special Tax Fund. Within the Special Tax Fund, the Finance Director shall establish and maintain two accounts, (i) the Debt Service Account, to the credit of which the City shall deposit, immediately upon receipt, all Special Tax Revenues received by the City, and any other amounts required to be deposited in the Special Tax Fund, and (ii) the Surplus Account, to the credit of which the City shall deposit surplus Special Tax Revenues described in Section 3.03(B) below. Moneys in the Special Tax Fund shall be held in trust by the City for the benefit of the City and the Owners of the Bonds, shall be disbursed as provided below and, pending any disbursement, shall be subject to a lien in favor of the Owners of the Bonds.

(B) Disbursements. All Special Tax Revenues shall be deposited in the Debt Service Account upon receipt. No later than 10 Business Days prior to each Interest Payment Date, the City shall withdraw from the Debt Service Account and transfer (i) to the Authority Trustee for deposit into the Authority Reserve Fund, an amount such that the amount then on deposit therein is equal to the Reserve Requirement, or to reimburse the provider of a Qualified Reserve Fund Credit Instrument for draws on the credit instrument, and (ii) to the Fiscal Agent for deposit in the Bond Fund an amount, taking into account any amounts then on deposit in the Bond Fund such that the amount in the Bond Fund equals the principal, premium, if any, and interest due on the Bonds on the next Interest Payment Date, provided, however, that as soon as practicable after the receipt by the City of any prepayments of Special Taxes, but no later than 30 Business Days after such receipt, the City shall transfer such prepayments to the Fiscal Agent for deposit into the Prepayment Account of the Bond Fund to be used for the redemption of bonds as instructed by the City. After the transfers under subsections (i) and (ii) have been made, the

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18 City may, on or after September 2 of each year, transfer to the Surplus Account the amount remaining in the Debt Service Account.

From time to time, the City may withdraw from the Surplus Account of the Special Tax Fund, to be used for any lawful purpose related to the District.

(C) Investment. Moneys in the Special Tax Fund shall be invested and deposited in accordance with Section 6.01. Interest earnings and profits resulting from such investment and deposit shall be retained in the Special Tax Fund to be used for the purposes thereof.

Section 3.04. Improvement Fund.

(A) Establishment of Improvement Fund. There is hereby established as a separate fund to be held by the Fiscal Agent, known as City of Pittsburg Community Facilities District 2009-01 (San Marco) Special Tax Bonds Improvement Fund to the credit of which a deposit shall be made as required by Section 3.02 and as required by Section 3.03. Moneys in the Improvement Fund shall be held in trust by the Fiscal Agent and shall be disbursed as provided in subsection (B) of this Section.

(B) Procedure for Disbursement. Disbursements from the Improvement Fund shall be made as determined by an Authorized Officer for the payment or reimbursement of the costs of the Project, including for costs of acquisition of portions of the Project in accordance with the Acquisition Agreement, authorized administrative expenses of the City, debt service on the Bonds in the event of default in the payment of Special Taxes by the Developer (as defined in the Acquisition Agreement), and/or otherwise as authorized by the City, by submission of an Officer’s Certificate to the Fiscal Agent requesting disbursement of moneys. The Fiscal Agent need not make any such payment if it has received notice of any lien, right to lien or attachment upon, or claim affecting the right to receive payment of, any of the moneys to be so paid, that has not been released or will not be released simultaneously with such payment. The Fiscal Agent shall not incur any liability for any disbursement from the Improvement Fund made in reliance upon any Officer’s Certificate.

(C) Investment. Moneys in the Improvement Fund shall be invested and deposited in accordance with Section 6.01. Interest earnings and profits from the investment of amounts in the Improvement Fund shall be retained in the Improvement Fund to be used for the purposes of the Improvement Fund.

(D) Closing of Fund. Upon the filing of an Officer’s Certificate stating that the portion of the Project to be financed from the Improvement Fund has been completed and that all costs of such portion of the Project have been paid or are not required to be paid from the Improvement Fund, the Authorized Officer shall request the Fiscal Agent to transfer the amount, if any, remaining in the Improvement Fund to the Bond Fund for application to the payment of principal of and interest on the Bonds in accordance with Section 4.02 and the Improvement Fund shall be closed.

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19 ARTICLE IV

SPECIAL TAX REVENUES; BOND FUND

Section 4.01. Pledge of Special Tax Revenues and Other Amounts. All of the Special Tax Revenues and, until disbursed as provided herein, all moneys deposited in the Special Tax Fund and in the Bond Fund are hereby pledged to secure the repayment of the Bonds. Such pledge shall constitute a first lien on the Special Tax Revenues and said amounts.

The Special Tax Revenues and all moneys deposited into such funds (except as otherwise provided herein) are hereby dedicated in their entirety to the payment of the principal of, and interest and any premium on, the Bonds as provided herein and in the Act until all of the Bonds have been paid and retired or until moneys or Federal Securities have been set aside irrevocably for that purpose in accordance with Section 9.03.

Amounts in the Surplus Account and the Improvement Fund are not pledged to the repayment of the Bonds. The facilities acquired with the proceeds of the Bonds are not in any way pledged to the repayment of the Bonds. Any proceeds of condemnation, destruction or other disposition of any facilities financed with the proceeds of the Bonds are not pledged to the repayment of the Bonds and are free and clear of any lien or obligation imposed hereunder.

Section 4.02. Bond Fund.

(A) Establishment of Bond Fund. There is hereby established as a separate fund to be held by the Fiscal Agent, known as City of Pittsburg Community Facilities District 2009-01 (San Marco) Special Tax Bonds Bond Fund, to the credit of which deposits shall be made as required by Section 3.03(B)(ii), Section 4.03 and any other amounts required to be deposited therein by this Agreement or the Act. Within the Bond Fund, the Fiscal Agent shall establish a Prepayment Account and deposit therein moneys received, if any, from prepayments of the Special Tax pursuant to Section 2.03(A)(ii). Moneys in the Bond Fund shall be held in trust by the Fiscal Agent for the benefit of the Owners of the Bonds, shall be disbursed for the payment of the principal of, and interest and any premium on, the Bonds as provided below, and, pending such disbursement, shall be subject to a lien in favor of the Owners of the Bonds.

(B) Disbursements. On each Interest Payment Date, the Fiscal Agent shall withdraw from the Bond Fund and pay to the Owners of the Bonds the principal of, and interest and any premium, then due and payable on the Bonds , including any amounts due on the Bonds by reason of any redemption of the Bonds as provided under Section 2.03(A)(i) or 2.03(A)(ii).

Moneys in the Prepayment Account shall be disbursed for redemption of Bonds as instructed by the City.

In the event that amounts in the Bond Fund are insufficient to pay regularly scheduled payments of principal of and interest on the Bonds, the Fiscal Agent shall notify the Authority that a withdrawal from the Authority Reserve Fund may be necessary, the amount of such insufficiency, and the Fiscal Agent shall provide written notice to the Finance Director and the Special Tax Administrator of the insufficiency.

If, after the foregoing transfer, there are insufficient funds in the Bond Fund to make the payments provided for to pay regularly scheduled payments of principal of and interest on the Bonds, the Fiscal Agent shall apply the available funds first to the payment of interest on the Bonds, then to the payment of principal due on the Bonds.

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20 (C) Investment. Moneys in the Bond Fund shall be invested and deposited in accordance with Section 6.01. Interest earnings and profits resulting from such investment and deposit shall be retained in the Bond Fund to be used for the purposes of such fund.

(D) Deficiency. If ten days before any Interest Payment Date it appears to the Fiscal Agent that there is a danger of deficiency in the Bond Fund and that the Fiscal Agent may be unable to pay regularly scheduled debt service on the Bonds in a timely manner, the Fiscal Agent shall report to the Finance Director such fact. The City covenants to increase the levy of the Special Taxes in the next Fiscal Year (subject to the maximum amount authorized for the District) in accordance with the procedures set forth in the Act for the purpose of curing Bond Fund deficiencies.

If on any Interest Payment Date the Fiscal Agent is unable to pay principal, interest and premium, if any, due on any Interest Payment Date for the Bonds due to insufficient funds in the Bond Fund, or if funds are needed to fully fund the Reserve Requirement, the Fiscal Agent shall notify the Finance Director in writing of such fact, and the Finance Director shall notify CDIAC of such fact within 10 days of such Interest Payment Date. The Fiscal Agent has no obligation under this Agreement to provide notice or disclosure to the Bondowners of insufficient funds or anticipation of deficiency in the Bond Fund.

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21 ARTICLE V

OTHER COVENANTS OF THE CITY

Section 5.01. Punctual Payment. The City will punctually pay or cause to be paid the principal of, and interest and any premium on, the Bonds when and as due in strict conformity with the terms of this Agreement, and it will faithfully observe and perform all of the conditions, covenants and requirements of this Agreement and all Supplemental Agreements and of the Bonds.

Section 5.02. Limited Obligation. The Bonds are limited obligations of the City on behalf of the District of the District and are payable solely from and secured solely by the Special Tax Revenues and the amounts in certain funds and accounts as described herein.

Section 5.03. Extension of Time for Payment. In order to prevent any accumulation of claims for interest after maturity, the City shall not, directly or indirectly, extend or consent to the extension of the time for the payment of any claim for interest on any of the Bonds and shall not, directly or indirectly, be a party to the approval of any such arrangement by purchasing or funding said claims for interest or in any other manner. In case any such claim for interest shall be extended or funded, whether or not with the consent of the City, such claim for interest so extended or funded shall not be entitled, in case of default hereunder, to the benefits of this Agreement, except subject to the prior payment in full of the principal of all of the Bonds then Outstanding and of all claims for interest which shall not have been so extended or funded.

Section 5.04. Against Encumbrances. The City will not encumber, pledge or place any charge or lien upon any of the Special Tax Revenues or other amounts pledged to the Bonds superior to or on a parity with the pledge and lien herein created for the benefit of the Bonds, except as permitted by this Agreement.

Section 5.05. Books and Accounts. The City will keep, or cause to be kept, proper books of record and accounts, separate from all other records and accounts of the City, in which complete and correct entries shall be made of all transactions relating to the expenditure of amounts disbursed from the Special Tax Fund and to the Special Tax Revenues. Such books of record and accounts shall at all times during business hours be subject to the inspection of the Owners of not less than ten percent (10%) of the principal amount of the Bonds then Outstanding, or their representatives duly authorized in writing.

The Fiscal Agent will keep, or cause to be kept, proper books of record and accounts, separate from all other records and accounts of the Fiscal Agent, in which complete and correct entries shall be made of all transactions of the Fiscal Agent relating to the expenditure of amounts disbursed from funds and accounts held by the Fiscal Agent hereunder. Such books of record and accounts shall at all times during business hours and upon reasonable prior notice, be subject to the inspection of the City and the Owners of not less than ten percent (10%) of the principal amount of the Bonds then Outstanding, or their representatives duly authorized in writing.

Section 5.06. Protection of Security and Rights of Owners. The City will preserve and protect the security of the Bonds and the rights of the Owners, and will warrant and defend their rights against all claims and demands of all persons. From and after the delivery of any of the Bonds by the City, the Bonds shall be incontestable by the City.

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22 Section 5.07. Compliance with Law; Completion of Project. The City will comply with all applicable provisions of the Act and the law in completing the acquisition and construction of the Project; provided that the City shall have no obligation to advance any funds to complete the Project in excess of the amounts available therefor in the Improvement Fund.

Section 5.08. Private Activity Bond Limitation. The City shall assure that the proceeds of the Bonds are not so used as to cause the Authority Bonds to satisfy the private business tests of Section 141(b) of the Code or the private loan financing test of Section 141(c) of the Code.

Section 5.09. Federal Guarantee Prohibition. The City shall not take any action or permit or suffer any action to be taken if the result of the same would be to cause any of the Authority Bonds to be “federally guaranteed” within the meaning of Section 149(b) of the Code.

Section 5.10. Collection of Special Tax Revenues. The City shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes.

On or within five Business Days of each June 1, the Fiscal Agent shall provide the Finance Director with a notice stating the amount then on deposit in the Bond Fund and any insufficiency of the amount of the Reserve Requirement. The receipt of such notice by the Finance Director shall in no way affect the obligations of the Finance Director under the following two paragraphs.

Upon receipt of such notice, the Finance Director shall ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year.

The City shall effect the levy of the Special Taxes each Fiscal Year in accordance with the Ordinance such that the computation of the levy is complete before the final date on which the County Auditor will accept the transmission of the Special Tax amounts for the parcels within the District for inclusion on the next secured real property tax roll. Upon the completion of the computation of the amounts of the levy, the City shall prepare or cause to be prepared, and shall transmit to the Finance Director, such data as the County Auditor requires to include the levy of the Special Taxes on the next secured real property tax roll.

The City shall fix and levy the amount of Special Taxes within the District required for the payment of principal of and interest on any Outstanding Bonds becoming due and payable during the ensuing year, including any necessary replenishment or expenditure of the Reserve Requirement and an amount estimated to be sufficient to pay the Administrative Expenses during such year, all in accordance with the Rate and Method and the Ordinance.

The Special Taxes shall be payable and be collected in the same manner and at the same time and in the same installment as the general taxes on real property are payable, and have the same priority, become delinquent at the same times and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general taxes on real property. Notwithstanding the foregoing, the Special Taxes may be collected in such other manner as the City shall prescribe if necessary to pay the debt service on the Bonds.

Section 5.11. Further Assurances. The City will adopt, make, execute and deliver any and all such further resolutions, instruments and assurances as may be reasonably necessary or proper to carry out the intention or to facilitate the performance of this Agreement, and for the better assuring and confirming unto the Owners of the rights and benefits provided in this Agreement.

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23 Section 5.12. No Arbitrage. The City shall not take, or permit or suffer to be taken by the Fiscal Agent or otherwise, any action with respect to the gross proceeds of the Bonds which if such action had been reasonably expected to have been taken, or had been deliberately and intentionally taken, on the Closing Date would have caused the Authority Bonds to be “arbitrage bonds” within the meaning of Section 148 of the Code and Regulations.

Section 5.13. Maintenance of Tax-Exemption. The City shall take all actions necessary to assure the exclusion of interest on the Authority Bonds from the gross income of the Owners of the Authority Bonds to the same extent as such interest is permitted to be excluded from gross income under the Code as in effect on the date of issuance of the Authority Bonds.

Section 5.14. Annual State Reports. The following requirements shall apply to the Bonds:

(A) Annual Reporting. Not later than October 30 of each calendar year, beginning with the October 30 first succeeding the date of the Bonds, and in each calendar year thereafter until the October 30 following the final maturity of the Bonds, the Finance Director shall prepare and supply the California Debt and Investment Advisory Commission, by mail, postage prepaid, with the information required under Section 53359.5(c) of the Act. The annual reporting shall be made using such form or forms as may be prescribed by CDIAC.

(B) Other Reporting. If within 10 days prior to any Interest Payment Date it appears to the Fiscal Agent that there is a danger of deficiency in the Bond Fund and that the Fiscal Agent may be unable to pay regularly scheduled debt service on the Bonds in a timely manner or if the Fiscal Agent is unable to pay principal, interest and premium, if any, due on any Interest Payment Date for the Bonds due to insufficient funds in the Bond Fund, the Finance Director shall make the reports required under Section 4.02(D) hereof.

(C) Amendment. The reporting requirements of this Section 5.14 shall be amended from time to time, without action by the City or the Fiscal Agent, to reflect any amendments to Section 53359.5(b) or Section 53359.5(c) of the Act.

(D) No Liability. None of the City and its officers, agents and employees, the Finance Director or the Fiscal Agent shall be liable for any inadvertent error in reporting the information required by this Section 5.14.

Section 5.15. Covenant to Foreclose. The City hereby covenants with and for the benefit of the Owners of the Bonds that it will annually on or before September 1 of each year review the public records of the County related to the collection of the Special Tax in order to determine the amount of the Special Tax collected in the prior Fiscal Year, and if the City determines on the basis of such review that:

(a) the amount so collected is deficient by more than 5% of the total amount of the Special Tax for the District levied in such Fiscal Year, then the City will institute, prosecute and pursue such foreclosure proceedings against each parcel in the District for which any installment of the Special Tax is delinquent in the time and manner provided below; or

(b) the amount so collected is deficient by less than 5% of the total amount of the Special Tax for the District levied in such Fiscal Year, but property owned by any single

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24 property owner is delinquent cumulatively by an amount equal to three installment payments with respect to the current and past Special Tax due, then the City will institute, prosecute and pursue such foreclosure proceedings against each such property owner in the time and manner provided below.

The Finance Director of the City shall within 60 days thereafter send or cause to be sent a written demand letter to the delinquent parcel(s) and lender of record, if any, as the first step in instituting foreclosure proceedings as authorized by the Mello-Roos Act in order to enforce the lien of the delinquent installment of the Special Tax on each such parcel, and shall thereafter diligently prosecute and pursue such foreclosure proceedings to judgment and sale in such manner and upon such timing as advised by legal counsel, taking into account the amounts delinquent, the estimate cost of legal proceedings, the status of Special Tax collections and available debt service reserves; provided, that the City shall not be obligated to commence proceedings against any delinquent parcels in any Fiscal Year in which the City has received or expects to receive one hundred percent (100%) of the amount of such installment from a so-called “Teeter Plan.”

Notwithstanding the foregoing, in certain instances the amount of a Special Tax delinquency on a particular parcel in relation to the cost of appropriate foreclosure proceedings may be such that the costs do not warrant the foreclosure proceedings costs. In such cases, foreclosure proceedings may be delayed by the City until there are sufficient Special Tax delinquencies accruing to such parcel (including interest and penalties thereon) to warrant the cost of such foreclosure proceedings.

Section 5.16. Continuing Disclosure to Owners. The City hereby covenants and agrees that it will comply with and carry out all of the provisions of the Continuing Disclosure Certificate for the Authority Bonds. Notwithstanding any other provision of this Agreement, failure of the City to comply with the Continuing Disclosure Certificate shall not be considered a default hereunder; however, any Participating Underwriter or any holder or beneficial owner of the Authority Bonds may take such actions as may be necessary and appropriate to compel performance by the City of its obligations thereunder, including seeking mandate or specific performance by court order.

Section 5.17. No Additional Bonds. The City covenants not to issue Additional Bonds payable from Special Taxes and by the Special Tax Revenues equally and ratably with the Bonds previously issued, except that the City may issue bonds to refund all or part of the Bonds. The City may also issue bonds secured by Special Taxes on a subordinate basis to the pledge of Special Taxes for payment of the Bonds.

Section 5.18. Yield of the Bonds. In determining the yield of the Bonds to comply with Section 5.13 hereof, the City will take into account optional and mandatory prepayment redemption (including premium, if any) in advance of maturity based on the reasonable expectations of the City, as of the Closing, without regard to whether or not redemption moneys are received or Bonds are redeemed.

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25 ARTICLE VI

INVESTMENTS; DISPOSITION OF INVESTMENT PROCEEDS;

LIABILITY OF THE CITY

Section 6.01. Deposit and Investment of Moneys in Funds. Subject in all respects to the provisions of Section 6.02, moneys in any fund or account created or established by this Agreement and held by the Fiscal Agent, shall be invested by the Fiscal Agent in Permitted Investments, as directed pursuant to an Officer’s Certificate filed with the Fiscal Agent at least two (2) Business Days in advance of the making of such investments. In the absence of any such Officer’s Certificate, the Fiscal Agent shall invest any such moneys in Permitted Investments described in clause (vii) of the definition thereof which by their terms mature prior to the date on which such moneys are required to be paid out hereunder. Subject in all respects to the provisions of Section 6.02, moneys in any fund or account created or established by this Agreement and held by the Finance Director shall be invested by the Finance Director in any lawful investments that the City may make, which by their terms mature prior to the date on which such moneys are required to be paid out hereunder. Obligations purchased as an investment of moneys in any fund shall be deemed to be part of such fund or account, subject, however, to the requirements of this Agreement for transfer of interest earnings and profits resulting from investment of amounts in funds and accounts.

The Fiscal Agent or Finance Director may act as principal or agent in the acquisition or disposition of any investment. Neither the Fiscal Agent nor the Finance Director shall incur any liability for losses arising from any investments made pursuant to this Section. Any losses arising from any investments made pursuant to this Section shall be offset against interest earnings and profits retained in the same fund.

Except as otherwise provided in the next sentence, all investments of amounts deposited in any fund or account created by or pursuant to this Agreement, or otherwise containing gross proceeds of the Bonds (within the meaning of Section 148 of the Code), shall be acquired, disposed of, and valued (as of the date that valuation is required by this Agreement or the Code) at Fair Market Value. For purposes of any Fair Market Value determination hereunder, the Fiscal Agent shall be entitled to conclusively rely on an Officer’s Certificate of the City and shall be fully protected in relying thereon. Investments in funds or accounts (or portions thereof) that are subject to a yield restriction under applicable provisions of the Code (unless valuation is undertaken at least annually) shall be valued at their present value (within the meaning of Section 148 of the Code).

Investments in any and all funds and accounts may be commingled in a separate fund or funds for purposes of making, holding and disposing of investments, notwithstanding provisions herein for transfer to or holding in or to the credit of particular funds or accounts of amounts received or held by the Fiscal Agent or the Finance Director hereunder, provided that the Fiscal Agent or the Finance Director, as applicable, shall at all times account for such investments strictly in accordance with the funds and accounts to which they are credited and otherwise as provided in this Agreement.

The Fiscal Agent or the Finance Director, as applicable, shall sell or present for redemption, any investment security whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund or account to which such investment security is credited and neither the Fiscal Agent nor the Finance Director shall

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26 be liable or responsible for any loss resulting from the acquisition or disposition of such investment security in accordance herewith.

The City acknowledges that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the City the right to receive brokerage confirmations of security transactions as they occur, the City specifically waives receipt of such confirmations to the extent permitted by law. The Fiscal Agent will furnish the City periodic cash transaction statements which include detail for all investment transactions made by the Fiscal Agent hereunder.

Section 6.02. Rebate of Excess Investment Earnings to the United States. The City covenants to calculate and rebate to the federal government, if and to the extent required in connection with the Authority Bonds, in accordance with the Regulations, excess investment earnings to the extent required by Section 148(f) of the Code.

In order to provide for the administration of this Section 6.02, the City may provide for the employment of independent attorneys, accountants and consultants compensated on such reasonable basis as the City may deem appropriate.

Section 6.03. Limited Obligation. The City’s obligations hereunder are limited obligations of the City on behalf of the District of the District and are payable solely from and secured solely by the Special Tax Revenues and the amounts in the Special Tax Fund and the Bond Fund created hereunder.

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27 ARTICLE VII

THE FISCAL AGENT

Section 7.01. Appointment of Fiscal Agent. The Bank of New York Mellon Trust Company, N.A., at its Principal Office, is hereby appointed Fiscal Agent for the Bonds. The Fiscal Agent undertakes to perform such duties, and only such duties, as are specifically set forth in this Agreement, and no implied covenants or obligations shall be read into this Agreement against the Fiscal Agent.

Any company into which the Fiscal Agent may be merged or converted or with which it may be consolidated or any company resulting from any merger, conversion or consolidation to which it shall be a party or any company to which the Fiscal Agent may sell or transfer all or substantially all of its corporate trust business, provided such company shall be eligible under the following paragraph of this Section, shall be the successor to such Fiscal Agent without the execution or filing of any paper or any further act, anything herein to the contrary notwithstanding.

The City may remove the Fiscal Agent initially appointed, and any successor thereto, and may appoint a successor or successors thereto, but any such successor shall be a bank or trust company having a combined capital (exclusive of borrowed capital) and surplus of at least $50,000,000, including, for such purpose, the combined capital and surplus of any parent holding company, and subject to supervision or examination by federal or state authority. If such bank or trust company publishes a report of condition at least annually, pursuant to law or to the requirements of any supervising or examining authority above referred to, then for the purposes of this Section 7.01, combined capital and surplus of such bank or trust company shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.

The Fiscal Agent may at any time resign by giving written notice to the City and by giving to the Owners notice by mail of such resignation. Upon receiving notice of such resignation, the City shall promptly appoint a successor Fiscal Agent by an instrument in writing. Any resignation or removal of the Fiscal Agent shall become effective upon acceptance of appointment by the successor Fiscal Agent.

If no appointment of a successor Fiscal Agent shall be made pursuant to the foregoing provisions of this Section within 30 days after the Fiscal Agent shall have given to the City written notice or after a vacancy in the office of the Fiscal Agent shall have occurred by reason of its inability to act, the Fiscal Agent or any Bondowner may apply to any court of competent jurisdiction to appoint a successor Fiscal Agent. Said court may thereupon, after such notice, if any, as such court may deem proper, appoint a successor Fiscal Agent.

Section 7.02. Liability of Fiscal Agent. The recitals of facts, covenants and agreements herein and in the Bonds contained shall be taken as statements, covenants and agreements of the City, and the Fiscal Agent assumes no responsibility for the correctness of the same, or makes any representations as to the validity or sufficiency of this Agreement or of the Bonds, or shall incur any responsibility in respect thereof, other than in connection with the duties or obligations herein or in the Bonds assigned to or imposed upon it. The Fiscal Agent shall not be liable in connection with the performance of its duties hereunder, except for its own negligence or willful default. The Fiscal Agent assumes no responsibility or liability for any information, statement or recital in any offering memorandum or other disclosure material prepared or distributed with

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28 respect to the issuance of the Bonds. The Fiscal Agent has no liability regarding the use of the proceeds from the purchase of the Bonds deposited in funds held by the City.

In the absence of bad faith, the Fiscal Agent may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Fiscal Agent and conforming to the requirements of this Agreement, including all Officer’s Certificates of the City meeting such requirements; but in the case of any such certificates or opinions by which any provision hereof are specifically required to be furnished to the Fiscal Agent, the Fiscal Agent shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Agreement. Except as provided above in this paragraph, the Fiscal Agent shall be protected and shall incur no liability in acting or proceeding, or in not acting or not proceeding, in good faith, reasonably and in accordance with the terms of this Agreement, upon any resolution, order, notice, request, consent or waiver, certificate, statement, affidavit, or other paper or document which it shall in good faith reasonably believe to be genuine and to have been adopted or signed by the proper person or to have been prepared and furnished pursuant to any provision of this Agreement, and the Fiscal Agent shall not be under any duty to make any investigation or inquiry as to any statements contained or matters referred to in any such instrument.

The Fiscal Agent shall not be liable for any error of judgment made in good faith by a responsible officer unless it shall be proved that the Fiscal Agent was negligent in ascertaining the pertinent facts.

No provision of this Agreement shall require the Fiscal Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

The Fiscal Agent shall be under no obligation to exercise any of the rights or powers vested in it by this Agreement at the request or direction of any of the Owners pursuant to this Agreement unless such Owners shall have offered to the Fiscal Agent reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

The Fiscal Agent may become the owner of the Bonds with the same rights it would have if it were not the Fiscal Agent.

Section 7.03. Information. The Fiscal Agent shall provide to the City such information relating to the Bonds and the funds and accounts maintained by the Fiscal Agent hereunder as the City shall reasonably request, including but not limited to quarterly statements reporting funds held and transactions by the Fiscal Agent.

Section 7.04. Notice to Fiscal Agent. The Fiscal Agent may rely and shall be protected in acting or refraining from acting upon any Officer’s Certificate, notice, resolution, request, consent, order, certificate, report, warrant, Bond or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or proper parties and given in accordance with the requirements hereof. The Fiscal Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Fiscal Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. The Fiscal Agent may consult with

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29 counsel, who may be counsel to the City, with regard to legal questions, and the opinion of such counsel shall be full and complete authorization and protection in respect of any action taken or suffered by it hereunder in good faith and in accordance therewith.

The Fiscal Agent shall not be bound to recognize any person as the Owner of a Bond unless and until such Bond is submitted for inspection, if required, and his title thereto satisfactorily established, if disputed.

Whenever in the administration of its duties under this Agreement the Fiscal Agent shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of willful misconduct on the part of the Fiscal Agent, be deemed to be conclusively proved and established by a certificate of the City, and such certificate shall be full warrant to the Fiscal Agent for any action taken or suffered under the provisions of this Agreement or any Supplemental Agreement upon the faith thereof, but in its discretion the Fiscal Agent may, in lieu thereof, accept other evidence of such matter or may require such additional evidence as to it may seem reasonable.

Section 7.05. Compensation, Indemnification. The City shall pay to the Fiscal Agent, but only from Special Tax Revenues, from time to time reasonable compensation for all services rendered as Fiscal Agent under this Agreement, and also all reasonable expenses, charges, counsel fees and other disbursements, including those of their attorneys, agents and employees, incurred in and about the performance of their powers and duties under this Agreement, but the Fiscal Agent shall not have a lien therefor on any funds at any time held by it under this Agreement. The City further agrees, to the extent permitted by applicable law, and only from Special Tax Revenues as the source of funds, to indemnify and save the Fiscal Agent, its officers, employees, directors and agents harmless against any costs, claims, expenses or liabilities, including, without limitation, fees and expenses of its attorneys which it may incur in the exercise and performance of its powers and duties hereunder which are not due to its negligence or willful misconduct. The obligation of the City under this Section shall survive resignation or removal of the Fiscal Agent under this Agreement and payment of the Bonds and discharge of this Agreement.

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30 ARTICLE VIII

MODIFICATION OR AMENDMENT OF THIS AGREEMENT

Section 8.01. Amendments Permitted. This Agreement and the rights and obligations of the City and of the Owners of the Bonds may be modified or amended at any time by a Supplemental Agreement pursuant to the affirmative vote at a meeting of Owners, or with the written consent without a meeting, of the Owners of at least 60% in aggregate principal amount of the Bonds then Outstanding, exclusive of Bonds disqualified as provided in Section 8.04. No such modification or amendment shall (i) extend the maturity of any Bond or reduce the interest rate thereon, or otherwise alter or impair the obligation of the City to pay the principal of, and the interest and any premium on, any Bond, without the express consent of the Owner of such Bond, or (ii) permit the creation by the City of any pledge or lien upon the Special Taxes superior to or on a parity with the pledge and lien created for the benefit of the Bonds (except as otherwise permitted by the Act, the laws of the State of California or this Agreement), or reduce the percentage of Bonds required for the amendment hereof. No such amendment may modify any of the rights or obligations of the Fiscal Agent without its written consent.

This Agreement and the rights and obligations of the City and of the Owners may also be modified or amended at any time by a Supplemental Agreement, without the consent of any Owners, only to the extent permitted by law and only for any one or more of the following purposes:

(A) to add to the covenants and agreements of the City in this Agreement contained, other covenants and agreements thereafter to be observed, or to limit or surrender any right or power herein reserved to or conferred upon the City;

(B) to make modifications not adversely affecting any outstanding series of Bonds of the City in any material respect;

(C) to make such provisions for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained in this Agreement, or in regard to questions arising under this Agreement, as the City and the Fiscal Agent may deem necessary or desirable, and which shall not adversely affect the rights of the Owners of the Bonds; or

(D) to make such additions, deletions or modifications as may be necessary or desirable to assure compliance with Section 148 of the Code relating to required rebate of excess investment earnings to the United States or otherwise as may be necessary to assure exclusion from gross income for federal income tax purposes of interest on the Bonds or to conform with the Regulations;

(E) to facilitate the issuance of Additional Bonds, to the extent permitted by Section 5.17.

Section 8.02. Owners’ Meetings. The City may at any time call a meeting of the Owners.

In such event the City is authorized to fix the time and place of said meeting and to provide for the giving of notice thereof and to fix and adopt rules and regulations for the conduct of said meeting.

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31 Section 8.03. Procedure for Amendment with Written Consent of Owners. The City and the Fiscal Agent may at any time enter into a Supplemental Agreement amending the provisions of the Bonds or of this Agreement or any Supplemental Agreement, to the extent that such amendment is permitted by Section 8.01, to take effect when and as provided in this Section. A copy of such Supplemental Agreement, together with a request to Owners for their consent thereto, if such consent is required under Section 8.01, shall be mailed by first class mail, by the Fiscal Agent to each Owner of Bonds Outstanding, but failure to mail copies of such Supplemental Agreement and request shall not affect the validity of the Supplemental Agreement when assented to as in this Section provided.

If consent of the Owners is required under Section 8.01, such Supplemental Agreement shall not become effective unless there shall be filed with the Fiscal Agent the written consents of the Owners of at least 60% in aggregate principal amount of the Bonds then Outstanding (exclusive of Bonds disqualified as provided in Section 8.04) and a notice shall have been mailed as hereinafter in this Section provided. Each such consent shall be effective only if accompanied by proof of ownership of the Bonds for which such consent is given, which proof shall be such as is permitted by Section 9.04. Any such consent shall be binding upon the Owner of the Bonds giving such consent and on any subsequent Owner (whether or not such subsequent Owner has notice thereof) unless such consent is revoked in writing by the Owner giving such consent or a subsequent Owner by filing such revocation with the Fiscal Agent prior to the date when the notice hereinafter in this Section provided for has been mailed.

After the Owners of the required percentage of Bonds shall have filed their consents to the Supplemental Agreement, the City shall mail a notice to the Owners in the manner hereinbefore provided in this Section for the mailing of the Supplemental Agreement, stating in substance that the Supplemental Agreement has been consented to by the Owners of the required percentage of Bonds and will be effective as provided in this Section (but failure to mail copies of said notice shall not affect the validity of the Supplemental Agreement or consents thereto). Proof of the mailing of such notice shall be filed with the Fiscal Agent. A record, consisting of the papers required by this Section 8.03 to be filed with the Fiscal Agent, shall be proof of the matters therein stated until the contrary is proved. The Supplemental Agreement shall become effective upon the filing with the Fiscal Agent of the proof of mailing of such notice, and the Supplemental Agreement shall be deemed conclusively binding (except as otherwise herein above specifically provided in this Article) upon the City and the Owners of all Bonds at the expiration of 60 days after such filing, except in the event of a final decree of a court of competent jurisdiction setting aside such consent in a legal action or equitable proceeding for such purpose commenced within such 60-day period.

Section 8.04. Disqualified Bonds. Bonds owned or held for the account of the City, excepting any pension or retirement fund, shall not be deemed Outstanding for the purpose of any vote, consent or other action or any calculation of Outstanding Bonds provided for in this Article VIII, and shall not be entitled to vote upon, consent to, or take any other action provided for in this Article VIII. Upon request, the City shall provide an Officer’s Certificate to the Fiscal Agent listing those Bonds which are disqualified pursuant to this Section 8.04.

Section 8.05. Effect of Supplemental Agreement. From and after the time any Supplemental Agreement becomes effective pursuant to this Article VIII, this Agreement shall be deemed to be modified and amended in accordance therewith, the respective rights, duties and obligations under this Agreement of the City and all Owners of Bonds Outstanding shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such Supplemental

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32 Agreement shall be deemed to be part of the terms and conditions of this Agreement for any and all purposes.

Section 8.06. Endorsement or Replacement of Bonds Issued After Amendments. The City may determine that Bonds issued and delivered after the effective date of any action taken as provided in this Article VIII shall bear a notation, by endorsement or otherwise, in form approved by the City, as to such action. In that case, upon demand of the Owner of any Bond Outstanding at such effective date and presentation of his Bond for that purpose at the Principal Office of the Fiscal Agent or at such other office as the City may select and designate for that purpose, a suitable notation shall be made on such Bond. The City may determine that new Bonds, so modified as in the opinion of the City is necessary to conform to such Owners’ action, shall be prepared, executed and delivered. In that case, upon demand of the Owner of any Bonds then Outstanding, such new Bonds shall be exchanged at the Principal Office of the Fiscal Agent without cost to any Owner, for Bonds then Outstanding, upon surrender of such Bonds.

Section 8.07. Amendatory Endorsement of Bonds. The provisions of this Article VIII shall not prevent any Owner from accepting any amendment as to the particular Bonds held by him, provided that due notation thereof is made on such Bonds.

Section 8.08. Opinion of Counsel Regarding Supplemental Agreement. The Fiscal Agent shall be furnished an opinion of counsel that any Supplemental Agreement entered into by the City and the Fiscal Agent complies with the provisions of this Article VIII, and the Fiscal Agent may conclusively rely upon such opinion.

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33 ARTICLE IX

MISCELLANEOUS

Section 9.01. Benefits of Agreement Limited to Parties. Nothing in this Agreement expressed or implied, is intended to give to any person other than the City, the Fiscal Agent and the Owners, any right, remedy, claim under or by reason of this Agreement. Any covenants, stipulations, promises or agreements in this Agreement contained by and on behalf of the City shall be for the sole and exclusive benefit of the Owners and the Fiscal Agent.

Section 9.02. Successor is Deemed Included in All References to Predecessor.

Whenever in this Agreement or any Supplemental Agreement either the City or the Fiscal Agent is named or referred to, such reference shall be deemed to include the successors or assigns thereof, and all the covenants and agreements in this Agreement contained by or on behalf of the City or the Fiscal Agent shall bind and inure to the benefit of the respective successors and assigns thereof whether so expressed or not.

Section 9.03. Discharge of Agreement. If the City shall pay and discharge the entire indebtedness on all or any portion of the Bonds Outstanding in any one or more of the following ways:

(A) by well and truly paying or causing to be paid the principal of, and interest and any premium on, such Bonds Outstanding, as and when the same become due and payable;

(B) by depositing with the Fiscal Agent or other fiduciary, at or before maturity, money which, together with (in the event that all of the Bonds are to be defeased) the amounts then on deposit in the funds and accounts provided for in Sections 4.02 and

4.03, is fully sufficient to pay such Bonds Outstanding, including all principal, interest and redemption premiums; or

(C) by irrevocably depositing with the Fiscal Agent or other fiduciary, cash and Federal Securities in such amount as the City shall determine as confirmed by an independent certified public accountant will, together with the interest to accrue thereon and (in the event that all of the Bonds are to be defeased) moneys then on deposit in the fund and accounts provided for in Sections 4.02 and 4.03, be fully sufficient to pay and discharge the indebtedness on such Bonds (including all principal, interest and redemption premiums) at or before their respective maturity dates;

and if such Bonds are to be redeemed prior to the maturity thereof notice of such redemption shall have been given as in this Agreement provided or provision satisfactory to the Fiscal Agent shall have been made for the giving of such notice, then, at the election of the City, and notwithstanding that any Bonds shall not have been surrendered for payment, the pledge of the Special Taxes and other funds provided for in this Agreement and all other obligations of the City under this Agreement with respect to such Bonds Outstanding shall cease and terminate, except only the obligations of the City under Section 5.13 and to pay or cause to be paid to the Owners of the Bonds not so surrendered and paid all sums due thereon and all amounts owing to the Fiscal Agent pursuant to Section 7.05; and thereafter Special Taxes shall not be payable to the Fiscal Agent. Notice of such election shall be filed with the Fiscal Agent.

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34 Any funds thereafter held by the Fiscal Agent upon payments of all fees and expenses of the Fiscal Agent, which are not required for said purpose, shall be paid over to the City.

Section 9.04. Execution of Documents and Proof of Ownership by Owners. Any request, declaration or other instrument which this Agreement may require or permit to be executed by Owners may be in one or more instruments of similar tenor, and shall be executed by Owners in person or by their attorneys appointed in writing.

Except as otherwise herein expressly provided, the fact and date of the execution by any Owner or his attorney of such request, consent, declaration or other instrument, or of such writing appointing such attorney, may be proved by the certificate of any notary public or other officer authorized to take acknowledgments of deeds to be recorded in the state in which he purports to act, that the person signing such request, declaration or other instrument or writing acknowledged to him the execution thereof, or by an affidavit of a witness of such execution, duly sworn to before such notary public or other officer.

Except as otherwise herein expressly provided, the ownership of registered Bonds and the amount, maturity, number and date of holding the same shall be proved by the registry books.

Any request, consent, declaration or other instrument or writing of the Owner of any Bond shall bind all future Owners of such Bond in respect of anything done or suffered to be done by the City or the Fiscal Agent in good faith and in accordance therewith.

Section 9.05. Waiver of Personal Liability. No member, officer, agent or employee of the City shall be individually or personally liable for the payment of the principal of, or interest or any premium on, the Bonds; but nothing herein contained shall relieve any such member, officer, agent or employee from the performance of any official duty provided by law.

Section 9.06. Notices to and Demands on City and Fiscal Agent. Any notice or demand which by any provision of this Agreement is required or permitted to be given or served by the Fiscal Agent to or on the City may be given or served by being deposited postage prepaid in a post office letter box, by overnight courier or by facsimile (with receipt confirmed by telephone) addressed (until another address is filed by the City with the Fiscal Agent) as follows:

City of Pittsburg
Attention: Finance Director
65 Civic Avenue
Pittsburg, California 94565

Any notice or demand which by any provision of this Agreement is required or permitted to be given or served by the City to or on the Fiscal Agent may be given or served by being deposited postage prepaid in a post office letter box, by overnight courier or by facsimile (with receipt confirmed by telephone) addressed (until another address is filed by the Fiscal Agent with the City) as follows:

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35 The Bank of New York Mellon Trust Company, N.A.

Attention: Corporate Trust
333 S. Hope Street, Suite 2525
Los Angeles, CA 90071

Section 9.07. Partial Invalidity. If any Section, paragraph, sentence, clause or phrase of this Agreement shall for any reason be held illegal or unenforceable, such holding shall not affect the validity of the remaining portions of this Agreement. The City hereby declares that it would have adopted this Agreement and each and every other Section, paragraph, sentence, clause or phrase hereof and authorized the issue of the Bonds pursuant thereto irrespective of the fact that any one or more Sections, paragraphs, sentences, clauses, or phrases of this Agreement may be held illegal, invalid or unenforceable.

Section 9.08. Unclaimed Moneys. Anything contained herein to the contrary notwithstanding, any moneys held by the Fiscal Agent in trust for the payment and discharge of the principal of, and the interest and any premium on, the Bonds which remains unclaimed for two (2) years after the date when the payments of such principal, interest and premium have become payable, if such moneys was held by the Fiscal Agent at such date, shall be repaid by the Fiscal Agent to the City as its absolute property free from any trust, and the Fiscal Agent shall thereupon be released and discharged with respect thereto and the Bond Owners shall look only to the City for the payment of the principal of, and interest and any premium on, such Bonds.

Section 9.09. Applicable Law. This Agreement shall be governed by and enforced in accordance with the laws of the State of California applicable to contracts made and performed in the State of California.

Section 9.10. Conflict with Act. In the event of a conflict between any provision of this Agreement with any provision of the Act as in effect on the Closing Date, the provision of the Act shall prevail over the conflicting provision of this Agreement.

Section 9.11. Conclusive Evidence of Regularity. Bonds issued pursuant to this Agreement shall constitute conclusive evidence of the regularity of all proceedings under the Act relative to their issuance and the levy of the Special Taxes.

Section 9.12. Payment on Business Day. In any case where the date of the maturity of interest or of principal (and premium, if any) of the Bonds or the date fixed for redemption of any Bonds or the date any action is to be taken pursuant to this Agreement is other than a Business Day, the payment of interest or principal (and premium, if any) or the action need not be made on such date but may be made on the next succeeding day which is a Business Day with the same force and effect as if made on the date required and no interest shall accrue for the period from and after such date.

Section 9.13. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original. The exchange of copies of this Agreement and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Agreement as to the parties hereto and may be used in lieu of the original Agreement and signature pages for all purposes.

Section 9.14. U.S.A. Patriot Act. The City and the District acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Fiscal Agent, like all financial

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36 institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Fiscal Agent. The City and the District agree that they will provide the Fiscal Agent with such information as it may request in order for the Fiscal Agent to satisfy the requirements of the U.S.A. Patriot Act.

[Signature Page Follows]

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[Signature page to Fiscal Agent Agreement dated as of September 1, 2026] IN WITNESS WHEREOF, the City has caused this Agreement to be executed in its name and the Fiscal Agent has caused this Agreement to be executed in its name, all as of September 1, 2026.

CITY OF PITTSBURG, for itself and on behalf of
its COMMUNITY FACILITIES DISTRICT 2009-
01 (SAN MARCO)

By:

Finance Director

THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as Fiscal Agent

By:

Authorized Officer

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A-1

EXHIBIT A

FORM OF BOND

UNITED STATES OF AMERICA

STATE OF CALIFORNIA

No. ___ ***$__________***

CITY OF PITTSBURG
COMMUNITY FACILITIES DISTRICT 2009-01
(SAN MARCO)
SPECIAL TAX BONDS SERIES 2026

INTEREST RATE: MATURITY DATE: BOND DATE: CUSIP:
____% September 1, 20__ September___, 2026 N/A

REGISTERED OWNER: THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as assignee of the City of Pittsburg Public Financing Authority

PRINCIPAL AMOUNT: ***______________ DOLLARS***

The City of Pittsburg (the “City”) for and on behalf of its City of Pittsburg Community Facilities District 2009-01 (San Marco) (the “District”) for the District of the District, for value received, hereby promises to pay solely from the Special Tax (as hereinafter defined) or amounts in certain funds and accounts held under the Agreement (as hereinafter defined), to the Registered Owner named above, or registered assigns (the “Owner”), on the Maturity Date set forth above, unless redeemed prior thereto as hereinafter provided, the Principal Amount set forth above, and to pay interest on such principal amount from the Bond Date shown above, or from the most recent Interest Payment Date (as hereinafter defined) to which interest has been paid or duly provided for, semiannually on March 1 and September 1, commencing March 1, 2027 (the “Interest Payment Dates”), at the Interest Rate set forth above, until the principal amount hereof is paid or made available for payment. The principal of this Bond is payable to the Owner hereof in lawful money of the United States of America upon presentation and surrender of this Bond at the principal corporate trust office of The Bank of New York Mellon Trust Company, N.A. in Los Angeles, California (the “Fiscal Agent”). Interest on this Bond shall be paid by check of the Fiscal Agent mailed by first class mail on each Interest Payment Date to the Owner hereof as of the close of business on the 15th day of the month preceding the month in which the Interest Payment Date occurs (the “Record Date”) at such Owner’s address as it appears on the registration books maintained by the Fiscal Agent, or by wire transfer made on such Interest Payment Date upon written instructions delivered to the Fiscal Agent by the applicable Record Date of any Owner of $1,000,000 or more in aggregate principal amount of Bonds.

This Bond is one of a duly authorized issue of “City of Pittsburg Community Facilities District 2009-01 (San Marco) Special Tax Bonds, Series 2026” (the “Bonds”) issued in the aggregate principal amount of $_____________ pursuant to the Mello-Roos Community Facilities

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A-2
Act of 1982, as amended, being Sections 53311, et seq., of the California Government Code (the “Act”) for the purpose of financing certain public improvements and paying certain costs related to the issuance of the Bonds. The issuance of the Bonds and the terms and conditions thereof are provided for by a resolution adopted by the City Council of the City acting in its capacity as the legislative body of the District on [August 3], 2026 and a Fiscal Agent Agreement dated as of September 1, 2026 (the “Fiscal Agent Agreement”), and this reference incorporates the Fiscal Agent Agreement herein, and by acceptance the Registered Owner of this Bond assents to said terms and conditions. The Fiscal Agent Agreement is adopted under and this Bond is issued under, and both are to be construed in accordance with, the laws of the State of California.

Pursuant to the Mello-Roos Act, the Agreement and the Resolution, the principal of and interest on this Bond are payable solely from the “Special Tax Revenues,” being the proceeds of the special taxes annually received by the City for the District of the District (the “Special Taxes”), excluding any interest and penalties thereon collected in connection with delinquent Special Taxes, less an amount equal to the Administrative Expense Priority, including all scheduled payments and delinquent payments thereof, and proceeds of the redemption or sale of property sold as a result of foreclosure of the lien of the Special Taxes, and certain funds held under the Agreement.

Interest on this Bond shall be payable from the Interest Payment Date next preceding the date of authentication hereof, unless (i) it is authenticated on an Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or (ii) such date of authentication is after a Record Date but on or prior to an Interest Payment Date, in which event interest will be payable from such Interest Payment Date, or (iii) such date of authentication is prior to the first Record Date, in which event interest will be payable from the Bond Date shown above; provided however, that if at the time of authentication of this Bond, interest is in default hereon, this Bond shall bear interest from the Interest Payment Date to which interest has previously been paid or made available for payment hereon.

Any tax for the payment hereof shall be limited to the Special Tax, except to the extent that provision for payment has been made by the City as may be permitted by law. The Bonds do not constitute obligations of the City for which the City is obligated to levy or pledge, or has levied or pledged, general or special taxation other than described herein above.

The Bonds are subject to optional redemption from any source of available funds (other than prepayments of the Special Tax by property owners), in whole or in part among maturities as specified by the City and by lot within a maturity, on any date on and after September 1, _____ at the following respective redemption prices (expressed as percentages of the principal amount of the Bonds to be redeemed), plus accrued interest thereon to the date of redemption:

The Bonds are subject to mandatory redemption from prepayments of the Special Tax by property owners, in whole or in part among maturities as shall be specified by the City and by lot within a maturity, on any Interest Payment Date at the following respective redemption prices

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(expressed as percentages of the principal amount of the Bonds to be redeemed), plus accrued interest thereon to the date of redemption:

The Bonds maturing September 1, _____ and September 1, ____ are subject to mandatory sinking payment redemption in part on September 1, _____ and September 1, ____, respectively, and on each September 1 thereafter to maturity, by lot, at a redemption price equal to 100% of the principal amount thereof to be redeemed, without premium, in the aggregate respective principal amounts as set forth in the following tables:

Term Bonds Maturing September 1, _____

Sinking Fund
Redemption Date
(September 1)

Sinking Fund Payment

(maturity)

Term Bonds Maturing September 1, _____

Sinking Fund
Redemption Date
(September 1)

Sinking Fund Payment

(maturity)

Notice of redemption with respect to the Bonds to be redeemed shall be given to the Owners thereof, in the manner, to the extent and subject to the provisions of the Agreement.

This Bond shall be registered in the name of the Owner hereof, as to both principal and interest. Each registration and transfer of registration of this Bond shall be entered by the Fiscal Agent in books kept by it for this purpose and authenticated by its manual signature upon the certificate of authentication endorsed hereon.

No transfer or exchange hereof shall be valid for any purpose unless made by the registered owner, by execution of the form of assignment endorsed hereon, and authenticated as herein provided, and the principal hereof, interest hereon and any redemption premium shall be

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A-4
payable only to the registered owner or to such Owner’s order. The Fiscal Agent shall require the Owner requesting transfer or exchange to pay any tax or other governmental charge required to be paid with respect to such transfer or exchange. No transfer or exchange hereof shall be required to be made (i) within 15 days prior to the date established by the Fiscal Agent for selection of Bonds for redemption or (ii) with respect to a Bond after such Bond has been selected for redemption.

The Agreement and the rights and obligations of the City thereunder may be modified or amended as set forth therein. The principal of the Bonds is not subject to acceleration upon a default under the Agreement or any other document.

This Bond shall not become valid or obligatory for any purpose until the certificate of authentication hereon endorsed shall have been dated and manually signed by the Fiscal Agent.

It is hereby certified, recited and declared that all acts, conditions and things required by law to exist, happen and be performed precedent to and in the issuance of this Bond have existed, happened and been performed in due time, form and manner as required by law, and that the amount of this Bond, together with all other indebtedness of the City, does not exceed any debt limit prescribed by the laws or Constitution of the State of California.

IN WITNESS WHEREOF, the City of Pittsburg has caused this Bond to be executed in its name by the manual or facsimile signature of its Mayor and attested by the manual or facsimile signature of its City Clerk.

CITY OF PITTSBURG

By:

Mayor

Attested:

By:

City Clerk

FISCAL AGENT’S CERTIFICATE OF AUTHENTICATION

This is one of the Bonds described in the Resolution and the Agreement.

Dated: _____________, 2026

THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as Fiscal Agent

By:

Authorized Officer

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A-5

FORM OF ASSIGNMENT

FOR VALUE RECEIVED, the undersigned do(es) hereby sell, assign and transfer unto

(Name, address and Tax Identification Number of Assignee)

the within-mentioned registered Bond and hereby irrevocably constitute(s) and appoint(s) attorney,
to transfer the same on the registration books of the Fiscal Agent with full power of substitution in the premises.

Dated: ________________

Signature Guaranteed:

NOTE: Signature(s) must be guaranteed by an eligible
guarantor institution with membership in an approved
signature guarantee medallion program pursuant to
Securities and Exchange Commission Rule 17A(d)15.

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

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Jones Hall Draft of July 17, 2026
PRELIMINARY OFFICIAL STATEMENT DATED AUGUST ___, 2026

NEW ISSUE - FULL BOOK-ENTRY RATINGS: S&P (Insured Bonds): “_____” (Underlying): “____”
See “RATINGS”

In the opinion of Jones Hall LLP, as Bond Counsel, subject, however to certain qualifications described herein, under existing law, the interest on the Bonds is excluded from gross income for federal income tax purposes and such interest is not an item of tax preference for purposes of the federal alternative minimum tax. Interest on the Bonds may be subject to the corporate alternative minimum tax. In the further opinion of Bond Counsel, interest on the Bonds is exempt from California personal income taxes. See “TAX MATTERS.” $25,000,000

CITY OF PITTSBURG PUBLIC FINANCING AUTHORITY
Special Tax Revenue Bonds
Series 2026
Dated: Date of Delivery Due: September 1, as shown on inside cover General. The Special Tax Revenue Bonds, Series 2026 (the “Bonds”) are being issued by the City of Pittsburg Public Financing Authority (the “Authority”) to assist the City of Pittsburg (the “City”) in the financing of certain improvements for its Community Facilities District 2009-01 (San Marco) (the “District”).

Purpose. The Bonds are being issued to purchase the City’s Community Facilities District 2009-01 (San Marco) Special Tax Bonds, Series 2026 (the “CFD Bonds”), which will be issued by the City concurrently with the Bonds. The City has not previously issued special tax bonds for the District and the City has covenanted not to issue additional special tax bonds for the District, except for refunding purposes. The CFD Bonds are being issued to provide money to finance authorized infrastructure improvements for the District, fund a debt service reserve fund, and pay costs of issuance.

Security for the Bonds and CFD Bonds. The Bonds are payable solely from “Revenues” pledged by the Authority under an Indenture of Trust, dated as of September 1, 2026 (the “Indenture”), by and between the Authority and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), which consist primarily of debt service payments received by the Authority from the City on the CFD Bonds, which payments are secured by a lien for special taxes (net of certain administrative expenses) (the “Special Taxes”) authorized under the Mello-Roos Community Facilities Act of 1982, as amended, being California Government Code Section 53311, et seq. (the “Act”), as more fully described herein. Installments of principal and interest sufficient to meet annual CFD Bonds debt service are included on the regular county tax bills sent to owners of property against which there are unpaid Special Taxes. Scheduled annual payments on the CFD Bonds exceed an amount sufficient to pay annual principal and interest on the Bonds when due. The Authority has covenanted not to issue any additional special tax revenue bonds on parity with the Bonds, except for refunding purposes. See “SECURITY FOR THE BONDS.” Unpaid Special Taxes do not constitute a personal indebtedness of the owners of the parcels within the District. In the event of delinquency, proceedings may be conducted only against the parcel of real property securing the delinquent Special Tax. There is no assurance the owners will be able to pay the Special Tax or that they will pay such Special Tax even though financially able to do so.

The District. Property in the District subject to the Special Tax securing the CFD Bonds consists of 826 single family homes and 4 undeveloped parcels in the City’s San Marco Specific Plan (“SMSP”) area. See “THE DISTRICT.” Bond Terms. The Bonds will be issued in denominations of $5,000 or any integral multiple of $5,000. Interest is payable semiannually on each March 1 and September 1, commencing March 1, 2027. The Bonds will be initially issued only in book-entry form and registered to Cede & Co. as nominee of The Depository Trust Company (“DTC”), which will act as securities depository of the Bonds. Principal and interest (and premium, if any) on the Bonds is payable by the Trustee to DTC, which remits such payments to its Participants for subsequent distribution to the registered owners as shown on the Trustee’s books. See “THE BONDS – Bond Terms” and “– Book-Entry Only System.” Redemption. The Bonds are subject to redemption prior to maturity as described herein. See “THE BONDS – Redemption.” Bond Insurance; Reserve Fund Surety. The scheduled payment of principal of and interest on the Bonds maturing on _____ of the years ______ through ______ , inclusive (the “Insured Bonds”), when due will be guaranteed under an insurance policy to be issued concurrently with the delivery of the Insured Bonds by ___________(“___” or the “Bond Insurer”). The Bond Insurer will also provide a reserve fund insurance policy to satisfy the reserve requirement for the Bonds. See “BOND INSURANCE” and “APPENDIX G – SPECIMEN MUNICIPAL BOND INSURANCE POLICY.”
[Insurer Logo]
Risk Factors. The Bonds may not be appropriate investments for certain individuals. See “RISK FACTORS” for a discussion of the risk factors that should be considered in evaluating the investment quality of the Bonds.

THE BONDS ARE SPECIAL OBLIGATIONS OF THE AUTHORITY PAYABLE SOLELY FROM AND SECURED SOLELY BY THE REVENUES AND FUNDS PLEDGED THEREFOR IN THE INDENTURE. THE BONDS ARE NOT A DEBT OR LIABILITY OF THE CITY, THE STATE OF

CALIFORNIA OR ANY POLITICAL SUBDIVISIONS THEREOF OTHER THAN THE AUTHORITY TO THE LIMITED EXTENT DESCRIBED

HEREIN, AND NEITHER THE FAITH AND CREDIT OF THE AUTHORITY, THE CITY, THE STATE OR ANY OF ITS POLITICAL SUBDIVISIONS

ARE PLEDGED TO THE PAYMENT OF PRINCIPAL OF, PREMIUM, IF ANY, OR INTEREST ON THE BONDS AND NEITHER THE AUTHORITY (EXCEPT TO THE LIMITED EXTENT DESCRIBED HEREIN), THE CITY, THE STATE NOR ANY OF ITS POLITICAL SUBDIVISIONS IS LIABLE

THEREFOR, NOR IN ANY EVENT SHALL THE BONDS OR ANY INTEREST THEREON BE PAYABLE OUT OF ANY FUNDS OR PROPERTIES OTHER THAN THOSE OF THE AUTHORITY AS SET FORTH IN THE INDENTURE. THE BONDS DO NOT CONSTITUTE AN INDEBTEDNESS

OF THE AUTHORITY, THE CITY, THE STATE OR ANY OF ITS POLITICAL SUBDIVISIONS WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY DEBT LIMITATION OR RESTRICTION. THE AUTHORITY HAS NO TAXING POWER.

Maturity Schedule
(see inside cover)
The Bonds are offered when, as and if issued and received by the Underwriter and subject to the approval as to their legality by Jones Hall LLP, San Mateo, California, Bond Counsel. Certain legal matters will also be passed upon for the Authority and the City by Jones Hall LLP, as Disclosure Counsel. Certain legal matters will be passed upon for the City and the Authority by the City Attorney. Certain legal matters will be passed upon for the Underwriter by its counsel, Best Best & Krieger LLP, Los Angeles, California. It is anticipated that the Bonds will be delivered in book-entry form through the facilities of DTC on or about September __, 2026.

Piper Sandler & Co.

The date of this Official Statement is: ________, 2026. ____________
* Preliminary; subject to change.

This Preliminary Official Statement and the information contained herein are subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the Official Statement is delivered in final form. Under no circumstances will this Preliminary Official Statement constitute an offer to sell or a solicitation of an offer to buy nor will there be any sale of these securities in any jurisdiction in which such offer solicitation or sale would be unlawful.

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MATURITY SCHEDULE

$25,000,000

CITY OF PITTSBURG PUBLIC FINANCING AUTHORITY

SPECIAL TAX REVENUE BONDS
SERIES 2026

(Base CUSIP†: _________)

Serial Bonds

Maturity Date
(September 1)
Principal
Amount
Interest
Rate Yield Price

CUSIP†

$__________ _____% Term Bond Due September 1, 20__; Price: _______%; Yield: _______%; CUSIP† : ___

† CUSIP is a Registered Trademark of The American Bankers Association. FactSet Research Systems Inc. operates The CUSIP Service Bureau for the ABA. These data are not intended to create a database and do not serve in any way as a substitute for the CUSIP services. Neither the Authority, the City nor the Underwriter is responsible for the selection or correctness of the CUSIP numbers set forth above.

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CITY OF PITTSBURG PUBLIC FINANCING AUTHORITY

CITY OF PITTSBURG
(CONTRA COSTA COUNTY, CALIFORNIA)

CITY COUNCIL
Dionne Adams, Chair and Mayor
Angelica Lopez, Vice Chair and Vice Mayor
Jelani Killings, Member and City Council Member
Juan Antonio Banales, Member and City Council Member
Arlene Kobata, Member and City Council Member

AUTHORITY/CITY STAFF
Darin Gale, Executive Director and City Manager
Elena Adair, Treasurer and City Director of Finance
Alice E. Evenson, Secretary and City Clerk
____________________________________________

SPECIAL SERVICES

Municipal Advisor
NHA Advisors
San Rafael, California

Bond and Disclosure Counsel
Jones Hall LLP
San Mateo, California

Special Tax Consultant
Goodwin Consulting Group, Inc.

Sacramento, California

Trustee and Fiscal Agent
The Bank of New York Mellon Trust Company, N.A.

San Francisco, California

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GENERAL INFORMATION ABOUT THIS OFFICIAL STATEMENT

No Offering May Be Made Except by this Official Statement. No dealer, broker, salesperson or other person has been authorized to give any information or to make any representations with respect to the Bonds other than as contained in this Official Statement, and if given or made, such other information or representation must not be relied upon as having been authorized.

No Unlawful Offers or Solicitations. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy in any state in which such offer or solicitation is not authorized or in which the person making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation.

Effective Date. This Official Statement speaks only as of its date, and the information and expressions of opinion contained in this Official Statement are subject to change without notice. Neither the delivery of this Official Statement nor any sale of the Bonds will, under any circumstances, create any implication that there has been no change in the affairs of the City since the date of this Official Statement.

Use of this Official Statement. This Official Statement is submitted in connection with the sale of the Bonds referred to in this Official Statement and may not be reproduced or used, in whole or in part, for any other purpose. This Official Statement is not a contract with the purchasers of the Bonds.

Preparation of this Official Statement. The information contained in this Official Statement has been obtained from sources that are believed to be reliable, but this information is not guaranteed as to accuracy or completeness.

The Underwriter has provided the following sentence for inclusion in this Official Statement: The Underwriter has reviewed the information in this Official Statement in accordance with, and as part of, its responsibilities to investors under the federal securities laws as applied to the facts and circumstances of this transaction, but the Underwriter does not guarantee the accuracy or completeness of such information.

Document References and Summaries. All references to and summaries of the Indenture or other documents contained in this Official Statement are subject to the provisions of those documents and do not purport to be complete statements of those documents.

Stabilization of and Changes to Offering Prices. The Underwriter may overallot or take other steps that stabilize or maintain the market price of the Bonds at a level above that which might otherwise prevail in the open market. If commenced, the Underwriter may discontinue such market stabilization at any time. The Underwriter may offer and sell the Bonds to certain dealers, dealer banks and banks acting as agent at prices lower than the public offering prices stated on the cover page of this Official Statement, and those public offering prices may be changed from time to time by the Underwriter.

Bonds are Exempt from Securities Laws Registration. The issuance and sale of the Bonds have not been registered under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, in reliance upon exemptions for the issuance and sale of municipal securities provided under Section 3(a)(2) of the Securities Act of 1933 and Section 3(a)(12) of the Securities Exchange Act of 1934.

Estimates and Projections. Certain statements included or incorporated by reference in this Official Statement constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. Such statements are generally identifiable by the terminology used such as “plan,” “expect,” “estimate,” “budget” or other similar words.

THE ACHIEVEMENT OF CERTAIN RESULTS OR OTHER EXPECTATIONS CONTAINED IN SUCH

FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND

OTHER FACTORS WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS

DESCRIBED TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. THE CITY

DOES NOT PLAN TO ISSUE ANY UPDATES OR REVISIONS TO THOSE FORWARD-LOOKING

STATEMENTS IF OR WHEN ITS EXPECTATIONS, OR EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH SUCH STATEMENTS ARE BASED OCCUR.

Website. The City maintains an Internet website, but the information on the website is not incorporated in this Official Statement.

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TABLE OF CONTENTS

INTRODUCTION ........................................................1 FINANCING PLAN ......................................................4 General ...................................................................4 Estimated Sources and Uses of Funds ..................5 THE BONDS ...............................................................6 Authority for Issuance .............................................6 Bond Terms ............................................................6 Redemption ............................................................7 Book-Entry Only System ........................................9 Registration, Transfer and Exchange of Bonds ....10
DEBT SERVICE SCHEDULE ...................................11 SECURITY FOR THE BONDS .................................13 Limited Obligation .................................................13 Revenues and Flow of Funds ...............................13 Reserve Fund .......................................................15 No Additional Bonds or CFD Bonds, Except for
Refunding .........................................................16 Security for the CFD Bonds ..................................16 Special Tax Methodology .....................................21 Priority of Lien .......................................................22 BOND INSURANCE .................................................23 THE AUTHORITY .....................................................24 THE DISTRICT .........................................................24 Formation of the District .......................................24 Location and Description of the District and the
Immediate Area ................................................24 CFD Authorized Facilities .....................................26 Development in the District ...................................26 Environmental Matters ..........................................26

OWNERSHIP OF PROPERTY WITHIN THE
DISTRICT .............................................................28

VALUE OF PROPERTY AND VALUE-TO-LIEN
RATIOS ................................................................29 Valuation of Property ............................................29 Assessed Values ..................................................29 Value-to-Lien Ratios .............................................32 Delinquencies; Teeter Plan ..................................33 Effective Tax Rates; Direct and Overlapping
Governmental Liens .........................................35 RISK FACTORS .......................................................37 Limited Obligation to Pay Debt Service ................37 Levy and Collection of the Special Taxes .............37 Payment of Special Taxes is Not a Personal
Obligation of the Property Owners ...................38 Property Values ....................................................38 Other Possible Claims on the Property Subject to
the Special Tax ................................................40 Wildfires and Fire Insurance .................................40 Public Health Emergencies ..................................41 Enforcement of Special Taxes on Governmentally
Owned Properties ............................................41 Bankruptcy Delays ................................................43 Disclosure to Future Purchasers ..........................43 No Acceleration; Right to Pursue Remedies ........44
Loss of Tax Exemption .........................................44 Loss of Tax-Exemption .........................................44 Secondary Market for Bonds ................................44 Potential Early Redemption of Bonds from
Prepayments ....................................................44 Cybersecurity ........................................................45 Bond Insurance ....................................................45 TAX MATTERS .........................................................46 CERTAIN LEGAL MATTERS ...................................47 NO LITIGATION .......................................................47 RATINGS ..................................................................48 CONTINUING DISCLOSURE ...................................48 MUNICIPAL ADVISOR .............................................48 UNDERWRITING .....................................................49 PROFESSIONAL SERVICES ...................................49 EXECUTION .............................................................49

APPENDIX A - Summary of Certain Provisions of Principal Legal Documents APPENDIX B - General Information about the City of Pittsburg APPENDIX C - Rate and Method of Apportionment of Special Taxes APPENDIX D - Form of Bond Counsel Opinion
APPENDIX E - Form of Continuing Disclosure Certificate APPENDIX F - DTC and the Book-Entry-Only System
[APPENDIX G - Specimen Municipal Bond Insurance Policy]

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_____________________

OFFICIAL STATEMENT
_____________________

$25,000,000

CITY OF PITTSBURG PUBLIC FINANCING AUTHORITY
Special Tax Revenue Bonds
Series 2026

This Official Statement, including the cover page and the appendices hereto, is provided to furnish information regarding the issuance by the City of Pittsburg Public Financing Authority (the “Authority”) of its Special Tax Revenue Bonds, Series 2026 (the “Bonds”) in the aggregate principal amount set forth above.

Any statements made in this Official Statement involving matters of opinion or of estimates, whether or not so expressly stated, are set forth as such and not as representations of fact, and no representation is made that any of the estimates will be realized. Definitions of certain terms used herein and not defined herein have the meaning set forth in the Indenture or the CFD Fiscal Agent Agreement described herein.

INTRODUCTION

This Introduction is not a summary of this Official Statement. It is only a brief description of and guide to, and is qualified by, more complete and detailed information contained in the entire Official Statement, including the cover page and appendices hereto, and the documents summarized or described herein. A full review should be made of the entire Official Statement.

The offering of the Bonds to potential investors is made only by means of the entire Official Statement.

Capitalized terms used but not defined in this Official Statement have the meanings set forth in the Indenture (as defined below). See “APPENDIX A – Summary of Certain Provisions of Principal Legal Documents.”

Purpose. The Bonds are being issued by the Authority to assist the City of Pittsburg (the “City”) in the financing of certain improvements for its Community Facilities District 2009-01 (San Marco) (the “CFD” or the “District”). The Bonds are being issued to purchase the City’s Community Facilities District 2009-01 (San Marco) Special Tax Bonds, Series 2026 (the “CFD Bonds”), which will be issued by the City concurrently with the Bonds. The CFD Bonds are being issued to provide money for the acquisition of public improvements authorized to be financed by the District, fund a debt service reserve fund, and pay costs of issuance. The City has not previously issued bonds for the District; the CFD Bonds are the first series of bonds to be issued for the District and the City has covenanted not to issue additional special tax bonds for the District, except for refunding purposes. Similarly, the Authority has covenanted not to issue any additional special tax revenue bonds on parity with the Bonds, except for refunding purposes.

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The District. Land within the District is constitutes a portion of the broader San Marco / Oak Hills development area in the City of Pittsburg (the “City”), where West Coast Home Builders and Seecon Financial & Construction Co., Inc., the master developer (the “Master Developer”), and their affiliates have been actively developing residential projects since the 1990s. The developed property within the District currently consists of 830 taxable parcels, 814 of which are homes owned by individual homeowners and 12 are homes owned by the Master Developer with the remaining 4 parcels undeveloped and owned by the Master Developer, all as described herein. See “OWNERSHIP OF PROPERTY WITHIN THE DISTRICT” herein.

Security for the Bonds and CFD Bonds. The Bonds are special obligations of the Authority, payable from and secured by “Revenues” (as defined herein) of the Authority consisting primarily of payments on the CFD Bonds received by the Authority from the City. Scheduled annual payments on the CFD Bonds exceed an amount sufficient to pay annual principal and interest on the Bonds when due. See “SECURITY FOR THE BONDS – Security for the CFD Bonds” below.

The Bonds are secured by a lien on and security interest in all of the Revenues and any other amounts (including proceeds of the sale of the Bonds) held in certain funds established under the Indenture of Trust, dated as of September 1, 2026 (the “Indenture”), between the Authority and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”). See “SECURITY FOR THE BONDS – Revenues and Flow of Funds.”

The CFD Bonds are secured by Special Tax Revenues pledged under the CFD Fiscal Agent Agreement (both as described herein), consisting mainly of special taxes (the “Special Tax” or “Special Taxes”) net of certain administrative expenses levied against taxable property in the District. The unpaid Special Taxes constitute a trust fund for the redemption and payment of the principal of the CFD Bonds and the interest thereon. Special Taxes have been levied in the District since Fiscal Year 2010-11; however, the CFD Bonds are the first series of bonds to be issued for the District.

The Special Taxes are levied by the City on taxable real property within the boundaries of the District. The CFD Bonds are also payable from the proceeds of any foreclosure actions brought following a delinquency in payment of the Special Taxes, and from amounts held in certain funds and accounts related to the CFD Bonds, all as more fully described herein. The Special Tax applicable to each taxable parcel in the District will be levied and collected according to the tax liability determined by the City Council through the application of a rate and method of apportionment of Special Tax for the District (the “Rate and Method”) which was approved by the City in connection with the formation of the District in 2010. The Special Tax represents a lien on the parcels of land subject thereto, and failure to pay the Special Tax could result in proceedings to foreclose the delinquent property. See “SECURITY FOR THE BONDS — Special Tax Methodology” and “APPENDIX C — RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX.”

Unpaid Special Taxes do not constitute a personal indebtedness of the owners of the parcels within the District, and the owners have made no commitment to pay the principal of or interest on the CFD Bonds or to support payment of the CFD Bonds in any manner. In the event of delinquency, proceedings may be conducted only against the particular parcel securing the delinquent Special Tax.

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Special Tax Levy. The CFD Bonds are being issued in the maximum amount allowed to be issued for the District and the annual debt service coverage for the all CFD Bonds exceeds 110% from annual Special Tax Revenues (described herein) based on annual Maximum Special Taxes that may be generated from Developed Property on the Fiscal Year 2026-27 tax roll, taking into account the annual 2% escalation factor for the Maximum Special Tax assigned to each Parcel in future years. For the Fiscal Year 2026-27 Special Tax levy, there are 830 taxable parcels in the District, of which all but 4 undeveloped parcels will be levied. The 826 parcels to be levied are single family residences. Undeveloped property can be levied a Special Tax in the event of delinquencies on Developed Property (as those terms are defined in the Rate and Method described herein). See “VALUE OF PROPERTY AND VALUE-TO-LIEN RATIOS” for additional details.

No Additional Bonds or CFD Bonds, Except for Refunding. Additional special tax bonds of the City for the District, and additional revenue bonds of the Authority to purchase them, may only be issued and secured on parity with the CFD Bonds and Bonds for refunding purposes.

The authorized indebtedness limit of the District is $25,000,000.

The District and Value of Land in the District. Property in the District subject to the Special Tax securing the CFD Bonds consists of 826 single family homes developed since the formation of the District, and 4 undeveloped parcels owned by the Master Developer of land in the District. The City has obtained the 2025-26 assessed values of all of the taxable land in the District. The assessed value of all taxable property within the District is approximately 24.69 times the $25,246,485* principal amount of the CFD Bonds and overlapping debt. This is an average for all taxable property in the District, and the value-to-lien ratios for individual parcels vary widely from this average. See “VALUE OF PROPERTY AND VALUE-TO-LIEN RATIOS – Appraised Values” and “APPENDIX D – The Appraisal” herein.

Redemption. The Bonds are subject to redemption prior to maturity as described herein.

See “THE Bonds – Redemption” herein.

Bond Insurance; Reserve Fund Surety. Concurrently with the issuance of the Bonds, ________ (“___” or the “Bond Insurer”) will issue its Municipal Bond Insurance Policy (the “Policy”) the Bonds maturing on _____ of the years ______ through ______ , inclusive (the “Insured Bonds”). The Policy guarantees the scheduled payment of principal of and interest on the Insured Bonds when due, as set forth in the form of the Policy included as Appendix G to this Official Statement. See “BOND INSURANCE” and APPENDIX G.

Risks of Investment. See the section of this Official Statement entitled “RISK FACTORS” for a discussion of special factors that should be considered, in addition to the other matters set forth herein, in considering the investment quality of the Bonds.

THE BONDS ARE SPECIAL OBLIGATIONS OF THE AUTHORITY PAYABLE SOLELY

FROM AND SECURED SOLELY BY THE REVENUES AND FUNDS PLEDGED THEREFOR IN THE INDENTURE. THE BONDS AND THE CFD BONS ARE NOT A DEBT OR LIABILITY OF

THE CITY, THE STATE OF CALIFORNIA OR ANY POLITICAL SUBDIVISIONS THEREOF

OTHER THAN THE AUTHORITY TO THE LIMITED EXTENT DESCRIBED HEREIN, AND

NEITHER THE FAITH AND CREDIT OF THE AUTHORITY, THE CITY, THE STATE OR ANY

OF ITS POLITICAL SUBDIVISIONS ARE PLEDGED TO THE PAYMENT OF PRINCIPAL OF,

PREMIUM, IF ANY, OR INTEREST ON THE BONDS OR CFD BONDS AND NEITHER THE

* Preliminary; subject to change.

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AUTHORITY (EXCEPT TO THE LIMITED EXTENT DESCRIBED HEREIN), THE CITY (EXCEPT

TO THE LIMITED EXTENT DESCRIBED HEREIN), THE STATE NOR ANY OF ITS POLITICAL

SUBDIVISIONS IS LIABLE THEREFOR, NOR IN ANY EVENT SHALL THE BONDS, THE CFD

BONDS OR ANY INTEREST THEREON BE PAYABLE OUT OF ANY FUNDS OR PROPERTIES

OTHER THAN THOSE OF THE AUTHORITY OR CITY AS SET FORTH IN THE INDENTURE AND CFD FISCAL AGENT AGREEMENT. THE BONDS DO NOT CONSTITUTE AN

INDEBTEDNESS OF THE AUTHORITY, THE CITY, THE STATE OR ANY OF ITS POLITICAL

SUBDIVISIONS WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY DEBT LIMITATION OR RESTRICTION. THE AUTHORITY HAS NO TAXING POWER.

Limited Scope of Official Statement. There follows in this Official Statement descriptions of the Authority, the Bonds, the Indenture, the City, the CFD Bonds, the Fiscal Agent Agreement, dated as of September 1, 2026 (the “CFD Fiscal Agent Agreement”) , by and between the City and The Bank of New York Mellon Trust Company, N.A., as fiscal agent (the “Fiscal Agent”) providing for issuance of the CFD Bonds, and certain other documents. The descriptions and summaries of documents herein do not purport to be comprehensive or definitive, and reference is made to each such document for the complete details of all its respective terms and conditions. All statements herein with respect to such documents are qualified in their entirety by reference to each such document for the complete details of all of their respective terms and conditions. All statements herein with respect to certain rights and remedies are qualified by reference to laws and principles of equity relating to or affecting creditors’ rights generally. Terms not defined herein shall have the meanings set forth in the Indenture or the CFD Fiscal Agent Agreement, as applicable.

The information and expressions of opinion herein speak only as of the date of this Official Statement and are subject to change without notice. Neither delivery of this Official Statement nor any sale made hereunder nor any future use of this Official Statement shall, under any circumstances, create any implication that there has been no change in the affairs of the Authority or the City since the date hereof.

All financial and other information presented in this Official Statement has been provided by the Authority and the City from their records, except for information expressly attributed to other sources. The presentation of information is intended to show recent historic information and is not intended to indicate future or continuing trends in the financial or other affairs of the owners, the District, the Authority or the City. No representation is made that past experience, as it might be shown by such financial and other information, will necessarily continue or be repeated in the future.

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FINANCING PLAN

General

The Bonds are being issued to acquire the CFD Bonds, which will be issued by the City concurrently with the issuance of the Bonds. Proceeds of the Bonds and the CFD Bonds will be used to finance certain public authorized improvements for the District and capital improvements within the City. Proceeds will also be used to fund a reserve fund for the Bonds and to pay costs of issuance, as described below. See “– Estimated Sources and Uses of Funds.” Net proceeds of the CFD Bonds will be deposited to the Improvement Fund held by the Fiscal Agent under the CFD Fiscal Agent Agreement for the purpose of financing public improvements, most of which the Master Developer has completed. The City will reimburse the Master Developer using the proceeds of the CFD Bonds pursuant to an Acquisition, Funding and Disclosure Agreement entered into in 2010, as amended in connection with the issuance of the CFD Bonds, under which to date the Master Developer has received funds generated from the Special Taxes on a pay-as- you go basis.

Estimated Sources and Uses of Funds

Bonds. The estimated sources and uses of funds relating to the Bonds are as follows:

Sources:

Principal Amount of the Bonds
Plus: Original Issue Premium
Total Sources
Uses:

Deposit to Purchase Fund(1)
Deposit to Reserve Fund(2)
Costs of Issuance(3)
Underwriter’s Discount
Total Uses

(1) To be used to acquire the CFD Bonds.
(2) Equal to the Reserve Requirement (defined herein) for the CFD Bonds on the date of delivery thereof. (3) Costs of issuance include Trustee and Fiscal Agent fees, Bond Counsel fees, Disclosure Counsel fees, Municipal Advisor fees, printing costs, premiums for the Policy and the Reserve Policy, and other related costs of issuing the Bonds and the CFD Bonds.

CFD Bonds. The estimated sources and uses of funds relating to the CFD Bonds (which are being purchased at the same price as the Bonds, as shown below) are as follows:

Sources:

Purchase Price of CFD Bonds
Total Sources

Uses:

Deposit to Improvement Fund(1)
Total Uses

(1) To be held by the City and used for improvements with respect to the District.

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Pittsburg City CouncilAugust 17, 2026

Pittsburg City Council
August 17, 2026