City of Pleasant Hill
CITY COUNCIL MEETING AGENDA
Monday, April 20, 2026
REGULAR MEETING - 07:00 PM
Watch on YouTube at www.phillca.gov/councilmeeting
The public meeting of the City Council will be held in person at City Hall 100 Gregory Lane, Pleasant Hill, CA 94523. Telephone (925) 671-5267 A Zoom link is provided herewith as a courtesy, but members of the public are advised that they will only have the option to participate via teleconference using the Zoom platform in the event that a member of the legislative body is approved to attend remotely pursuant to the provisions of Assembly Bill 2449. Meeting link: www.zoom.us; Meeting ID: 863 4925 4303 Passcode: 981977
MAYOR ZAC SHESS
VICE MAYOR & DISTRICT 2 COUNCILMEMBER ANDREI OBOLENSKIY
COUNCILMEMBER AT LARGE SUE NOACK
DIST. 1 COUNCILMEMBER BELLE LA
DIST. 5 COUNCILMEMBER AMANDA SZAKATS
Options for observing the meeting and participating in public comments are provided below.
Public Communication. The public is welcome to address the City Council on items on the Consent Calendar or other items not listed on the agenda but within the Council’s jurisdiction during the general Public Comment period.
There is an opportunity for the public to comment on other agenda items at the time they are discussed. Comments are generally limited to two minutes.
Public Participation Options
1) Watch the Meeting via Youtube Livestream at www.phillca.gov/councilmeeting. 2) Submit Written Comments by 4 pm the Day of the Meeting to [email protected] (comments received by the deadline will be provided to the City Council before the meeting). Please specify that the correspondence is for public comment at the Council meeting.
3) Make Public Comment During the Meeting
When the Mayor invites public comment (or public comments on specific agenda items), members of the public may attend the meeting in person and may speak on any matter within the City Council's jurisdiction. Please fill out a speaker's card, available at the entry to the Council Chambers, and turn it in to the City Clerk.
City Council Meeting Agenda - Page 1 of 159 - Monday, April 20, 2026 If, due to a disability, a reasonable accommodation is needed to participate in this meeting, please refer to the Providing Accessible Communication to the Public Under the Americans with Disabilities Act and AB 2449 document online at www.phillca.gov/accessiblecommunications and contact the ADA Coordinator 48 hours in advance of the meeting at (925) 671-5267 or via California Relay at 711.
Materials related to an item on this agenda submitted to the Council after distribution of the agenda packet are available to the public in the City’s Public Records Portal at https://cityarchive.phillca.gov/WebLink/ (click on City Council Agenda Packets) or by contacting the City Clerk at [email protected] or 925-671-5267.
City Council Meeting Recordings and Broadcasts
Recorded City Council meetings are broadcast on Comcast Channel 28, Wave Channel 1029, and AT&T U-Verse Channel 99 on the Wednesday following the meeting. Video recordings are generally available within 48 hours of the meeting, and may be viewed on the City’s website at www.phillca.gov/MeetingVideos and selecting “City Council” from the meeting groups.
Agendas are Available for Review on the City Hall official noticing bulletin board (100 Gregory Lane), at the Pleasant Hill Police Department (330 Civic Drive), the Pleasant Hill Senior Center (233 Gregory Lane), and on the City’s website at www.phillca.gov/agendas. Agenda packets will be available to the public on the City’s website at the same time as they are made available to the City Council.
CALL TO ORDER
PLEDGE OF ALLEGIANCE
ROLL CALL
CLOSED SESSION REPORT
PRESENTATIONS
Proclamation Designating April 22, 2026 as Earth Day
Presentation and Proclamation for National Library Week Update from College Park High School
Introduction of Civic Action Commissioner Cherie Salonga
CITY MANAGERS COMMENTS
(Brief updates on pending City business without discussion by the City Council.)
1. 2.
3. 4.
5. 5.1
5.2 5.3
5.4 6.
City Council Meeting Agenda - Page 2 of 159 - Monday, April 20, 2026
COUNCIL ANNOUNCEMENTS AND REPORTS
Reports from Councilmembers on Meetings or Conferences Attended at City Expense
Announcements from Councilmembers
PUBLIC COMMENT
The public is welcome at this time to address the City Council on items on the Consent Calendar or other items not listed on the agenda but within the Council’s jurisdiction. There is an opportunity for the public to comment on other agenda items at the time they are discussed. Comments are limited to two minutes per speaker. To provide public comments, please see the Public Participation Options above.
CONSENT CALENDAR
All matters listed under “Consent Calendar” are considered by the Council to be routine and will be enacted by one motion. There will be no separate Council discussion of these items unless requested by a Councilmember prior to the time Council votes on the motion to adopt.
Approve Minutes for the Regular City Council Meeting of April 6, 2026 Page 5 Approve Checks Dated: April 03, 2026; April 10, 2026 Page 10 Approve Appointment Recommendation to the Diversity Commission, Commission on Aging, Education Commission and Planning Commission
Adopt the Renewal of Ordinance 954 Regarding Specialized or Military Equipment Available for use by the Pleasant Hill Police Department Pursuant to AB 481.
Adopt Resolution No. __-26 Designating City Officials and Employees Required to Receive Fiscal and Financial Training
Adopt Ordinance No. __, Accessory Dwelling Unit Ordinance (ADU & JADU) Amendment
Adopt Resolution No.__-26 Approving the City of Pleasant Hill Investment Policy Effective July 1, 2026
ACTION CALENDAR
ENT-2024-0032, Habitat for Humanity 4-Unit Single-Family Housing Development - General Plan Amendment, Rezone (PUD and Concept Plan), Minor Subdivision, Development Plan Permit, Architectural Review Permit,
7. 7.1
7.2 8.
9. 9.1
9.2 9.3
9.4 9.5
9.6 9.7
10. 10.1
City Council Meeting Agenda - Page 3 of 159 - Monday, April 20, 2026 at 85 Woodsworth Lane and Select Parcels Between 47 and 129 Woodsworth Lane
This item has been continued, without discussion, to the May 4, 2026 City Council meeting, when the public hearing will be held.
Adopt Resolution No. __-26 Authorizing the City Manager to Execute a Contract with Imperial Maintenance Services, Inc.
ADJOURNMENT
Next City Council Meeting: May 4, 2026
10.2 11.
City Council Meeting Agenda - Page 4 of 159 - Monday, April 20, 2026
CITY COUNCIL STAFF REPORT
Meeting Date: April 20, 2026
100 Gregory Lane, Pleasant Hill, CA 94523-3323 – (925) 671-5270 www.pleasanthillca.org
TO: The Honorable Mayor and City Councilmembers
SUBJECT: Approve Minutes for the Regular City Council Meeting of April 6, 2026 RECOMMENDED CITY COUNCIL ACTION: Approve the Minutes
ATTACHMENT(S): April 6, 2026 – Tentative Minutes
Prepared by: Lyone Conner, City Clerk
Item 9.1
City Council Meeting Agenda - Page 5 of 159 - Monday, April 20, 2026
MINUTES OF THE
REGULAR MEETING – CITY COUNCIL
April 6, 2026
City Council Meeting Minutes Page 1 March 16, 2026
1. CALL TO ORDER
Mayor Shess called a Regular Meeting of the City Council to order at 7:02 PM, in the Council Chambers, 100 Gregory Lane, Pleasant Hill, CA, complete proceedings of which were electronically recorded. The meeting agenda was posted on the City Hall outdoor bulletin board at 100 Gregory Lane, Pleasant Hill, CA on April 2, 2026, by City Clerk Lyone Conner.
2. PLEDGE OF ALLEGIANCE
Mayor Shess invited the Council and Public to join him in reciting the Pledge of Allegiance.
3. ROLL CALL
Attendee Name Title Status
Zac Shess Mayor Present
Andrei Obolenskiy Vice Mayor Present
Belle La District 1 Councilmember Present
Sue Noack District 2 Councilmember Present
Amanda Szakats District 5 Councilmember Present
4. CLOSED SESSION REPORT
Mayor Shess reported that there was no closed session and nothing to report.
5. PRESENTATIONS
5.1 Proclamation Designating the Month of April as Autism Acceptance Month Mayor Shess issued a proclamation designating April as Autism Acceptance Month to Sunny Pannu, on behalf of the Diversity commission.
Sunny offered remarks encouraging further Autism awareness and acceptance for community.
5.2 Presentation from the County Behavioral Health Project (Sherman House) Supervisor Ken Carlson presented the conceptual plans for the anticipated Sherman Project.
Supervisor Carlson also introduced Dr. Suzanne Tavano Director of Behavior Health for Contra Costa Health, who responded to questions from Council.
6. CITY MANAGER COMMENTS
Ethan Bindernagel, City Manager, reported that:
• Off the Grid returned for another season on Thursdays at City Hall. • The second annual Earth Day celebration is scheduled for April 23, 2026.
Item 9.1
City Council Meeting Agenda - Page 6 of 159 - Monday, April 20, 2026
City Council Meeting Minutes Page 2 April 6, 2026
• The East Bay Las Juntas Art Guild will display and sell their Spring Art work on April 25, 2026.
• The Police Department will host a community engagement meeting on April 28, 2026 to report on AB 481 Military Equipment, in accordance with the law. • The Education and Diversity Commissions will host a community Neighbor Nights event on April 29, 2026.
7. COUNCIL ANNOUNCEMENTS AND REPORTS
7.1 Reports from Councilmembers on Meetings or Conferences Attended at City Expense
Mayor Shess reported that he along with Councilmembers La and Noack attended the Mayors Conference.
Councilmember Szakats reported her attendance at the Cal Cities Environmental Policy Committee meeting on March 27, 2026.
Councilmember La reported her attendance at the Cal Cities Housing, Community, and Economic Development Policy Committee meeting.
7.2 Announcements from Councilmembers
Councilmember La announced the second annual Night Market with a celebration of the Asian American, Native Hawaiian, and Pacific Islander Communities. She also announced the expansion of the Night Market model in neighboring cities.
Councilmember Szakats reported her attendance at the Recreation and Park District Eggstravaganza, the No Kings Rally, a tour of CCTV with Supervisor Carlson, the East Bay Innovation Awards, and at the Power Association of California webinar on environmental justice.
Councilmember Noack reported her attendance at the No Kings Rally and at the Capital through MTC, where she spoke about the RHNA process.
Vice Mayor Obolenskiy reported his attendance with Councilmember La at the Economic Development meeting and the College Park Every 15 Minutes Program. Vice Mayor Obolenskiy also reported his attendance at the Chamber of Commerce Joint Mixer, the Women’s Networking Group, the East Bay Innovation Awards, the 4th Friday Coffee through the Chamber of Commerce, and at the Delphi Norwuz event.
Mayor Shess reported his attendance at the Delphi Norwuz celebration, where he issued a proclamation, the East Bay Innovation Awards, the No Kings Rally, and at the retirement celebration for long-time City Employee Doug Conant.
Item 9.1
City Council Meeting Agenda - Page 7 of 159 - Monday, April 20, 2026
City Council Meeting Minutes Page 3 April 6, 2026
8. PUBLIC COMMENT
The following member of the public provided a comment:
• Gail Egbert
9. CONSENT CALENDAR
Motion (La/Szakats) to Approve consent items 9.1 – 9.5, carried unanimously as follows:
AYES: La, Noack, Obolenskiy, Szakats, Shess
9.1 Approve Minutes for the Regular City Council Meeting of March 16, 2026
9.2 Approve Minutes for the Special City Council Meeting of February 9, 2026
9.3 Approve Checks Dated: March 13, 2026; March 20, 2026; March 27, 2026
9.4 Approve Letter of Support for AB2517 (Calderon) Fire Zone Process Improvements
9.5 Reintroduce Ordinance No. 954 Readopting the Special or Military Equipment Use Policy Pursuant to AB 481 and Accepting the Annual Report for all Specialized or Military Equipment Available for use by the Pleasant Hill Police Department.
10. ACTION CALENDAR
10.1 Adopt Resolution No. 19-26 Approving the Pleasant Hill Recreation and Park District Event Sponsorship Proposal for Calendar Year 2026.
Bret Sweet, Economic Development Manager, invited Jen Thoits, Marketing, Communications, and Events Manager, and Stephanie Herriman from the Recreation and Park District, to provide a presentation on the sponsorship proposal.
No members of the public provided comments.
Motion (Noack/La) to Approve item 10.1, carried unanimously as follows:
AYES: La, Noack, Obolenskiy, Szakats, Shess
10.2 Adopt Resolution No. 20-26 Adopting the City of Pleasant Hill's Climate Action Plan
Haley Croffoot, Senior Planner, introduced Kristin Cushman, consultant with Blue Strike Environmental, who provided a presentation on the background and next steps for the City’s Climate Action Plan (CAP). Kristin also responded to questions.
Mayor Shess called the meeting to recess at 8:48 p.m.
Item 9.1
City Council Meeting Agenda - Page 8 of 159 - Monday, April 20, 2026
City Council Meeting Minutes Page 4 April 6, 2026
Mayor Shess called the meeting back to order at 8:58 p.m.
Troy Fujimoto, City Planner, was available and responded to questions from Council, along with the following CAP consultants:
• Michael Adams, Glumac
• Jim Dankowich, DKS
• Alex Haag, DKS
Mayor Shess opened public comment, and the following members provided a comment:
• Courtney Coon
• Yehudit Lieberman
Mayor Shess closed public comment and invited additional discussion from Council.
Motion (La/Szakats) to Approve item 10.2, carried unanimously as follows:
AYES: La, Noack, Obolenskiy, Szakats, Shess
10.3 Public Hearing and Introduce Ordinance No. , Accessory Dwelling Unit Ordinance (ADU & JADU) Amendment
Andrew Shiflett, Associate Planner, introduced Kristin Cushman, consultant with Blue Strike Environmental, who provided a presentation on the background and next steps for the City’s Climate Action Plan (CAP). Kristin also responded to questions.
Troy Fujimoto, City Planner, was available and responded to questions from Council.
The following member of the public provided a comment: Chris Verdugo Motion (Noack/Obolenskiy) to Approve item 10.3, carried unanimously as follows:
AYES: La, Noack, Obolenskiy, Szakats, Shess
ADJOURNMENT
Mayor Shess adjourned the meeting at 10:16 p.m. The next Regular City Council meeting will be held on Monday, April 20, 2026, beginning at 7:00 p.m.
______________________________
LYONE P. CONNER, CITY CLERK
Item 9.1
City Council Meeting Agenda - Page 9 of 159 - Monday, April 20, 2026
CITY COUNCIL STAFF REPORT
Meeting Date: April 20, 2026
TO: THE HONORABLE MAYOR AND CITY COUNCILMEMBERS
SUBJECT: Approve Checks Dated: April 03, 2026; April 10, 2026
RECOMMENDED CITY COUNCIL ACTION
Approve the check register.
ATTACHMENT(S):
Check Register
Prepared by: Maria Alfredo, Accounting Technician I
Approved by: Erick Cheung, Chief Financial Officer
Item 9.2
City Council Meeting Agenda - Page 10 of 159 - Monday, April 20, 2026 4/3/2026 9:28:40 AM Page 1 of 7
Expense Approval Report
Pleasant Hill, CA By Vendor Name
Payment Dates 4/3/2026 - 4/3/2026
Vendor Name Payable Number Post Date Description (Item) Account Number Payment Number Payment Date Amount Vendor: AAA05 - AAA WORKSPACE
AAA WORKSPACE 2490339-0 04/03/2026 COPY PPER: HAM86700 30% …101-5097-0000-660016 349697 04/03/2026 87.01 AAA WORKSPACE 2491833-0 04/03/2026 COPY PAPER FOR CH 101-1016-0000-660016 349697 04/03/2026 696.05 Vendor AAA05 - AAA WORKSPACE Total: 783.06
Vendor: AAN01 - AANTEX PEST CONTROL
AANTEX PEST CONTROL 713373 04/03/2026 MONTHLY PEST CONTROL AT…101-5097-0000-650016 349698 04/03/2026 85.00 Vendor AAN01 - AANTEX PEST CONTROL Total: 85.00
Vendor: AHM25 - AHMED, ASR
AHMED, ASR 260403 04/03/2026 Per Diem Train class SFST 4/… 101-2001-0000-640011 349699 04/03/2026 115.00 Vendor AHM25 - AHMED, ASR Total: 115.00
Vendor: ALE04 - ALERTLINE COMMUNICATIONS, LLC
ALERTLINE COMMUNICATIO… 82146 04/03/2026 ELEVATOR EMERGENCY PH S… 101-1012-0000-670020 349700 04/03/2026 120.00 Vendor ALE04 - ALERTLINE COMMUNICATIONS, LLC Total: 120.00 Vendor: ALS01 - ALSCO UNIFORMS
ALSCO UNIFORMS LSAC2220249 04/03/2026 MATS, TOWELS, LAUNDRY S… 101-2001-0000-660014 349701 04/03/2026 160.78 Vendor ALS01 - ALSCO UNIFORMS Total: 160.78
Vendor: AMA05 - AMAZON CAPITAL SERVICES, INC.
AMAZON CAPITAL SERVICES, …14L7-X7TM-V4P9 04/03/2026 MICROSOFT SURFACE SLIM P…401-1012-0000-660024 349704 04/03/2026 114.16 AMAZON CAPITAL SERVICES, …16QP-L6TQ-9M6X 04/03/2026 IPHONE 16 PRO CASES FOR … 401-1012-0000-660024 349709 04/03/2026 938.23 AMAZON CAPITAL SERVICES, …1D9T-QW9M-LDHX 04/03/2026 COFFEE FOR CH STAFF 101-1016-0000-660016 349708 04/03/2026 115.44 AMAZON CAPITAL SERVICES, …1KD4-QXXC-VPFD 04/03/2026 ENERGIZER CR2032 BATTERI… 401-1012-0000-660024 349703 04/03/2026 28.35 AMAZON CAPITAL SERVICES, …1MJL-C3PR-JJNN 04/03/2026 5 PCK SANDISK CRUZER GLID… 101-1010-0000-660016 349702 04/03/2026 151.18 AMAZON CAPITAL SERVICES, …1Q4G-YGHR-P374 04/03/2026 IPHONE 16E CASES W/ SCRE… 401-1012-0000-660024 349706 04/03/2026 65.46 AMAZON CAPITAL SERVICES, …1VWY-1DT6-MJD6 04/03/2026 MICRSOFT SURF PRO KYBRDS…401-1012-0000-660024 349705 04/03/2026 422.76 AMAZON CAPITAL SERVICES, …1YCK-FRQH-QJJX 04/03/2026 BROTHER WRLESS COL LSR P… 401-1012-0000-660024 349707 04/03/2026 450.22 Vendor AMA05 - AMAZON CAPITAL SERVICES, INC. Total: 2,285.80 Vendor: ARM03 - ARMOUR PETROLEUM SVC & EQUIPMENT CORP.
ARMOUR PETROLEUM SVC &…WO-30331 04/03/2026 PD & PSC: UST OPERATOR IN… 101-5097-0000-630040 349710 04/03/2026 415.00 Vendor ARM03 - ARMOUR PETROLEUM SVC & EQUIPMENT CORP. Total: 415.00 Vendor: ATT23 - AT&T
AT&T ACCT 322394749 32326 04/03/2026 INTERNET FOR LIBRARY ACCT…101-1012-0000-670020 349711 04/03/2026 133.75 Vendor ATT23 - AT&T Total: 133.75
Vendor: CIT04 - CITY OF CONCORD
CITY OF CONCORD MC26-008 04/03/2026 AT THE C.C. MAYORS CONF … 101-1001-0000-700020 349712 04/03/2026 160.00 Vendor CIT04 - CITY OF CONCORD Total: 160.00
Item 9.2
City Council Meeting Agenda - Page 11 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/3/2026 - 4/3/2026 4/3/2026 9:28:40 AM Page 2 of 7
Vendor Name Payable Number Post Date Description (Item) Account Number Payment Number Payment Date Amount Vendor: CCC09 - CONTRA COSTA COUNTY
CONTRA COSTA COUNTY CL 25/26 04/03/2026 CLETS FISCAL YR 2025-2026 … 101-2001-0000-620037 349713 04/03/2026 1,247.15 Vendor CCC09 - CONTRA COSTA COUNTY Total: 1,247.15
Vendor: CON73 - CONTRA COSTA TELEVISION
CONTRA COSTA TELEVISION 4003 04/03/2026 25-26 FY QTR 1 SLA SVCS, JUL…101-1012-0000-630040 349714 04/03/2026 3,137.76 CONTRA COSTA TELEVISION 4003 04/03/2026 25-26 FY QTR 1 SLA SVCS, JUL…403-1012-0000-710856 349714 04/03/2026 947.79 Vendor CON73 - CONTRA COSTA TELEVISION Total: 4,085.55
Vendor: COL05 - CP GRAD NITE
CP GRAD NITE 260327 03/27/2026 DONAT/SPONSOR FOR CLASS…101-4002-0000-700080 349715 04/03/2026 750.00 Vendor COL05 - CP GRAD NITE Total: 750.00
Vendor: CRU25 - CRUZ, HUMBERTO
CRUZ, HUMBERTO 260403 04/03/2026 Per Diem Train cla UAS Pilot, …101-2001-0000-640011 349716 04/03/2026 301.00 Vendor CRU25 - CRUZ, HUMBERTO Total: 301.00
Vendor: DEL09 - DELL MARKETING L.P.
DELL MARKETING L.P. 10868320170 04/03/2026 SLM SNDBARS & 27 NCH M… 401-1012-0000-660024 349717 04/03/2026 1,464.46 Vendor DEL09 - DELL MARKETING L.P. Total: 1,464.46
Vendor: DIA02 - DIABLO TROPHIES & AWARDS
DIABLO TROPHIES & AWARDS 20479 04/03/2026 SVC AWARDS ( 23.5 YRS ) 101-1014-0000-620036 349718 04/03/2026 120.18 Vendor DIA02 - DIABLO TROPHIES & AWARDS Total: 120.18
Vendor: EWI01 - EWING IRRIGATION PRODUCTS, INC.
EWING IRRIGATION PRODUC… 29372761/29672724 04/03/2026 LANDSCAPG ITEMS CITYWD: … 101-5097-0000-660036 349719 04/03/2026 11.79 EWING IRRIGATION PRODUC… 29372761/29672724 04/03/2026 LANDSCAPG ITEMS CITYWD: … 101-5097-0000-660036 349719 04/03/2026 113.24 EWING IRRIGATION PRODUC… 29376889;29525322 04/03/2026 202614 RB DIAPH ASSY 150E… 101-5097-0000-650054 349719 04/03/2026 213.31 EWING IRRIGATION PRODUC… 29376889;29525322 04/03/2026 2-1/2 PVC 90 ELL SS 226-4019-0000-660036 349719 04/03/2026 38.46 EWING IRRIGATION PRODUC… 29567139;29560751 04/03/2026 PT CHRISTY RED HOT BLUE G… 226-4019-0000-660036 349719 04/03/2026 28.13 EWING IRRIGATION PRODUC… 29567139;29560751 04/03/2026 TEFLON TP 3/4X520;150EFB-… 227-4026-0000-660036 349719 04/03/2026 263.36 Vendor EWI01 - EWING IRRIGATION PRODUCTS, INC. Total: 668.29 Vendor: GAR17 - GARCIA, AARON
GARCIA, AARON 260403 04/03/2026 April 14-17 Pittsburg, CA 101-2001-0000-640011 349720 04/03/2026 92.00 Vendor GAR17 - GARCIA, AARON Total: 92.00
Vendor: HOL24 - HOLISTIC SOLUTIONS LLC
HOLISTIC SOLUTIONS LLC 2628 04/03/2026 PO/10140 CONSULTING SVCS 101-1014-0000-630040 349721 04/03/2026 7,500.00 HOLISTIC SOLUTIONS LLC 2641 04/03/2026 CONSULTING SVCS 101-1014-0000-630040 349721 04/03/2026 1,111.35 HOLISTIC SOLUTIONS LLC 2646 04/03/2026 PO/10140 CONSULTING SVCS 101-1014-0000-630040 349721 04/03/2026 7,500.00 HOLISTIC SOLUTIONS LLC 2673 04/03/2026 PO/10140 CONSULTING SVCS 101-1014-0000-630040 349721 04/03/2026 5,000.00 HOLISTIC SOLUTIONS LLC 2690 04/03/2026 PO/10140 CONSULTING SVCS 101-1014-0000-630040 349721 04/03/2026 5,000.00 Vendor HOL24 - HOLISTIC SOLUTIONS LLC Total: 26,111.35
Vendor: 10015 - IPERMIT LLC
IPERMIT LLC 040326 04/03/2026 PRM #MECR-24-0559 1564 F… 101-0000-0000-430030 349722 04/03/2026 66.40 Vendor 10015 - IPERMIT LLC Total: 66.40
Item 9.2
City Council Meeting Agenda - Page 12 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/3/2026 - 4/3/2026 4/3/2026 9:28:40 AM Page 3 of 7
Vendor Name Payable Number Post Date Description (Item) Account Number Payment Number Payment Date Amount Vendor: JOS01 - JOSEPH'S LAWNMOWER & LOCK INC.
JOSEPH'S LAWNMOWER & L… 425662;425965 04/03/2026 71PM3 65E CHN LP VRSACUT…101-5097-0000-660036 349723 04/03/2026 556.65 JOSEPH'S LAWNMOWER & L… 425662;425965 04/03/2026 RP BAG 250FT CAP; 1/2"X 15… 227-4026-0000-660036 349723 04/03/2026 349.58 Vendor JOS01 - JOSEPH'S LAWNMOWER & LOCK INC. Total: 906.23 Vendor: CUR06 - L.N. CURTIS & SONS
L.N. CURTIS & SONS 1078237 04/03/2026 HELMETS 101-2001-0000-660026 349724 04/03/2026 14,757.49 Vendor CUR06 - L.N. CURTIS & SONS Total: 14,757.49
Vendor: BEL25 - LA, BELLE
LA, BELLE 260403 04/03/2026 TRAV EXP REP PLG COMM A… 101-1001-0000-640021 349725 04/03/2026 167.78 Vendor BEL25 - LA, BELLE Total: 167.78
Vendor: MAN26 - MANAGED SOLUTIONS LLC
MANAGED SOLUTIONS LLC 118097 04/03/2026 SVCS ON COP RDINESS ASSES…401-1012-0000-630016 349726 04/03/2026 3,875.00 Vendor MAN26 - MANAGED SOLUTIONS LLC Total: 3,875.00
Vendor: THO01 - MARGARET THORNTON
MARGARET THORNTON 260403 04/03/2026 Retiree Medical for APR 2026 101-1019-0000-612210 349727 04/03/2026 205.90 Vendor THO01 - MARGARET THORNTON Total: 205.90
Vendor: MOT95 - MOTOROLA SOLUTIONS, INC.
MOTOROLA SOLUTIONS, INC. 1411220808 04/03/2026 HSTD VEHI MNGER SUBSC C… 101-1012-2001-650035 349728 04/03/2026 4,389.24 Vendor MOT95 - MOTOROLA SOLUTIONS, INC. Total: 4,389.24 Vendor: MUN25 - MUNOZ, BRYANNA
MUNOZ, BRYANNA 260403 04/03/2026 Per Diem 101-2001-0000-640011 349729 04/03/2026 115.00 Vendor MUN25 - MUNOZ, BRYANNA Total: 115.00
Vendor: NUN01 - NUNES, JAMES R.
NUNES, JAMES R. 260403 04/03/2026 Retiree Medical for APR 2026 101-1019-0000-612210 349730 04/03/2026 162.00 Vendor NUN01 - NUNES, JAMES R. Total: 162.00
Vendor: PGE01 - PG&E
PG&E ACCT 0439282612-1 32026 04/03/2026 WHITE ZONE 101-5097-0000-670035 349736 04/03/2026 1,013.79 PG&E ACCT 0439282612-1 32026 04/03/2026 BLUE ZONE 1 226-4019-0000-670035 349736 04/03/2026 284.68 PG&E ACCT 0439282612-1 32026 04/03/2026 BLUE ZONE 2 226-4020-0000-670035 349736 04/03/2026 12.67 PG&E ACCT 0439282612-1 32026 04/03/2026 BLUE ZONE 3 226-4021-0000-670035 349736 04/03/2026 112.12 PG&E ACCT 0439282612-1 32026 04/03/2026 BLUE ZONE 5 226-4023-0000-670035 349736 04/03/2026 120.99 PG&E ACCT 0439282612-1 32026 04/03/2026 BLUE ZONE 6 226-4024-0000-670035 349736 04/03/2026 12.67 PG&E ACCT 0439282612-1 32026 04/03/2026 GALLERY WALK 227-4026-0000-670035 349736 04/03/2026 15.91 PG&E ACCT 0439282612-1 32026 04/03/2026 TRAFFIC SIGNALS 306-5107-0000-670015 349736 04/03/2026 3,225.28 PG&E ACCT 2099200650-0 32026 04/03/2026 SUMM BLG-AD22 ST LIGHTI… 227-4025-0000-670015 349735 04/03/2026 282.33 PG&E ACCT 3440271975-0 32326 04/03/2026 ST LIGHTING- 520 CCB 226-4019-0000-670015 349734 04/03/2026 16.59 PG&E ACCT 4757183615-5 31926 04/03/2026 SUMM BLG-PUBLIC SVCS CE… 101-5097-0000-670015 349733 04/03/2026 2,891.87 PG&E ACCT 5396165398-6 32026 04/03/2026 AD#20 WHITE ZONE 101-5097-0000-670015 349731 04/03/2026 864.70 PG&E ACCT 5396165398-6 32026 04/03/2026 AD #20 ZONE 1 226-4019-0000-670015 349731 04/03/2026 5,241.64 PG&E ACCT 5396165398-6 32026 04/03/2026 AD #20 ZONE 2 226-4020-0000-670015 349731 04/03/2026 439.22 PG&E ACCT 5396165398-6 32026 04/03/2026 AD#20 ZONE 3 226-4021-0000-670015 349731 04/03/2026 643.79 Item 9.2
City Council Meeting Agenda - Page 13 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/3/2026 - 4/3/2026 4/3/2026 9:28:40 AM Page 4 of 7
Vendor Name Payable Number Post Date Description (Item) Account Number Payment Number Payment Date Amount PG&E ACCT 5396165398-6 32026 04/03/2026 AD # 20 ZONE 4 226-4022-0000-670015 349731 04/03/2026 52.51 PG&E ACCT 5396165398-6 32026 04/03/2026 AD#20 ZONE 5 226-4023-0000-670015 349731 04/03/2026 323.72 PG&E ACCT 5396165398-6 32026 04/03/2026 AD#20 ZONE 6 226-4024-0000-670015 349731 04/03/2026 2,942.16 PG&E ACCT 7825400025-6 32026 04/03/2026 SUMM BLG-SAFETY ST LIGHT… 221-1020-0000-670015 349732 04/03/2026 2,088.85 Vendor PGE01 - PG&E Total: 20,585.49
Vendor: PRI25 - PRIMO BRANDS
PRIMO BRANDS 06C8720087382 04/03/2026 ACTIVITY FROM 2/25/26-3/2… 101-1016-0000-660016 349737 04/03/2026 374.89 Vendor PRI25 - PRIMO BRANDS Total: 374.89
Vendor: QUA12 - QUALITY TREE CARE
QUALITY TREE CARE 1551325 04/03/2026 PASO NOGAL(LOW): REM 2 … 101-5097-0000-630040 349738 04/03/2026 3,000.00 Vendor QUA12 - QUALITY TREE CARE Total: 3,000.00
Vendor: QUE08 - QUENCH USA, INC.
QUENCH USA, INC. INV10568048 04/03/2026 PSC: QUNCH 975-15 TW SVC… 101-5097-0000-650017 349739 04/03/2026 655.50 QUENCH USA, INC. INV10568048 04/03/2026 PSC: QUNCH 975-15 TW SVC… 101-5097-0000-650018 349739 04/03/2026 711.18 Vendor QUE08 - QUENCH USA, INC. Total: 1,366.68
Vendor: RIO25 - RIO VISTA FORD, INC.
RIO VISTA FORD, INC. 112560 04/03/2026 2020 FRD EXPLORER LOCK DR…101-5097-0000-630048 349740 04/03/2026 1,193.01 Vendor RIO25 - RIO VISTA FORD, INC. Total: 1,193.01
Vendor: ROB03 - ROBERT HALF
ROBERT HALF 66055205 04/03/2026 PYCK FOR PER-DIEM EMPLO… 101-2001-0000-611050 349741 04/03/2026 2,690.24 Vendor ROB03 - ROBERT HALF Total: 2,690.24
Vendor: SPA02 - S.P. AUTOMOTIVE
S.P. AUTOMOTIVE 5-904109;5-903802 04/03/2026 2002 TOYOTA PCKUP TACO… 101-5097-0000-620065 349742 04/03/2026 141.00 S.P. AUTOMOTIVE 5-904109;5-903802 04/03/2026 WX WL10050;AML 5W30;3-… 101-5097-0000-620065 349742 04/03/2026 148.14 S.P. AUTOMOTIVE 5-904109;5-903802 04/03/2026 INTRCPTOR UTILI BS 3.0L SER…101-5097-0000-620065 349742 04/03/2026 -288.03 S.P. AUTOMOTIVE 5-904109;5-903802 04/03/2026 INTERCPTOR UTILITY BS 3.0L 101-5097-0000-620065 349742 04/03/2026 32.21 S.P. AUTOMOTIVE 5-904431 04/03/2026 2002 TOYOTA PCKUP TACO… 101-5097-0000-620065 349742 04/03/2026 18.46 Vendor SPA02 - S.P. AUTOMOTIVE Total: 51.78
Vendor: STA67 - SECURITAS TECHNOLOGY CORPORATION
SECURITAS TECHNOLOGY CO… 6005491696 04/03/2026 MONIT SVC FOR ALRM SYS. … 101-5097-0000-650041 349743 04/03/2026 313.63 Vendor STA67 - SECURITAS TECHNOLOGY CORPORATION Total: 313.63 Vendor: SUM05 - SUMMIT SPRINGS WATER COMPANY
SUMMIT SPRINGS WATER C… 413307;413105 04/03/2026 DRINKING WATER AND MON…101-5097-0000-660014 349744 04/03/2026 36.43 Vendor SUM05 - SUMMIT SPRINGS WATER COMPANY Total: 36.43 Vendor: SZA25 - SZAKATS, AMANDA
SZAKATS, AMANDA 260403 04/03/2026 TRAV EXPE REP: CAL CIT HSG… 101-1001-0000-640021 349745 04/03/2026 80.58 Vendor SZA25 - SZAKATS, AMANDA Total: 80.58
Item 9.2
City Council Meeting Agenda - Page 14 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/3/2026 - 4/3/2026 4/3/2026 9:28:40 AM Page 5 of 7
Vendor Name Payable Number Post Date Description (Item) Account Number Payment Number Payment Date Amount Vendor: WIL15 - WILLIAMS, JACOB
WILLIAMS, JACOB 260403 04/03/2026 Reimbursement 101-2001-0000-640011 349746 04/03/2026 10.50 Vendor WIL15 - WILLIAMS, JACOB Total: 10.50
Grand Total: 93,446.64
Item 9.2
City Council Meeting Agenda - Page 15 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/3/2026 - 4/3/2026 4/3/2026 9:28:40 AM Page 6 of 7
Report Summary
Fund Summary
Fund Payment Amount
101 - GENERAL FUND 68,645.55
221 - UNIFIED LIGHTING DISTRICT FUND 2,088.85
226 - COMMERCIAL LANDSCAPE & LIGHTING - DISTRICT … 10,269.35 227 - LANDSCAPE AND LIGHTING-ASSESSMENT DISTRICT… 911.18 306 - MEASURE J FUND 3,225.28
401 - CITY HALL/PUBLIC SERVICE CENTER TECHNOLOGY … 7,358.64 403 - PUBLIC EDUCATIONAL AND GOVERNMENTAL (PEG)… 947.79 Grand Total: 93,446.64
Account Summary
Account Number Account Name Payment Amount
101-0000-0000-430030 BUILDING PERMITS 66.40
101-1001-0000-640021 EDUC/CONF/O/N 248.36
101-1001-0000-700020 MAYORS CONFERENCE E… 160.00
101-1010-0000-660016 SUPPLIES/OFFICE 151.18
101-1012-0000-630040 CONTRACTUAL SVC 3,137.76
101-1012-0000-670020 UTIL/TELEPHONE 253.75
101-1012-2001-650035 MAINT/HARDWARE 4,389.24
101-1014-0000-620036 RETIREE AWARDS 120.18
101-1014-0000-630040 CONTRACTUAL SVC 26,111.35
101-1016-0000-660016 SUPPLIES/OFFICE 1,186.38
101-1019-0000-612210 SICK LEAVE CONVERSIO… 367.90
101-2001-0000-611050 SALARY-PART TIME TEM… 2,690.24
101-2001-0000-620037 CAL-ID SVCS 1,247.15
101-2001-0000-640011 POST TRAING SVC 633.50
101-2001-0000-660014 SUPPLIES/OPERATING 160.78
101-2001-0000-660026 SAFETY EQUIPMENT REP… 14,757.49
101-4002-0000-700080 COLLEGE PARK GRAD NI… 750.00
101-5097-0000-620065 AUTO/PRTS/TIRES 51.78
101-5097-0000-630040 CONTRACTUAL SVC 3,415.00
101-5097-0000-630048 AUTO/OUTSD SVCS 1,193.01
101-5097-0000-650016 MAINT/PD BLDG 85.00
101-5097-0000-650017 MAINT/CH BLDG 655.50
101-5097-0000-650018 MAINT/PSC BLDG 711.18
101-5097-0000-650041 MAINT/FIR/SCRTY 313.63
101-5097-0000-650054 LANDSCAPING-POLICE D… 213.31
101-5097-0000-660014 SUPPLIES/OPERATING 36.43
101-5097-0000-660016 SUPPLIES/OFFICE 87.01
101-5097-0000-660036 SUPPLIES/LAND MATERI… 681.68
101-5097-0000-670015 UTIL/GAS-ELECTR 3,756.57
Item 9.2
City Council Meeting Agenda - Page 16 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/3/2026 - 4/3/2026 4/3/2026 9:28:40 AM Page 7 of 7
Account Summary
Account Number Account Name Payment Amount
101-5097-0000-670035 UTIL/OTHER 1,013.79
221-1020-0000-670015 UTIL/GAS-ELECTR 2,088.85
226-4019-0000-660036 SUPPLIES/LAND MATERI… 66.59
226-4019-0000-670015 UTIL/GAS-ELECTR 5,258.23
226-4019-0000-670035 UTIL/OTHER 284.68
226-4020-0000-670015 UTIL/GAS-ELECTR 439.22
226-4020-0000-670035 UTIL/OTHER 12.67
226-4021-0000-670015 UTIL/GAS-ELECTR 643.79
226-4021-0000-670035 UTIL/OTHER 112.12
226-4022-0000-670015 UTIL/GAS-ELECTR 52.51
226-4023-0000-670015 UTIL/GAS-ELECTR 323.72
226-4023-0000-670035 UTIL/OTHER 120.99
226-4024-0000-670015 UTIL/GAS-ELECTR 2,942.16
226-4024-0000-670035 UTIL/OTHER 12.67
227-4025-0000-670015 UTIL/GAS-ELECTR 282.33
227-4026-0000-660036 SUPPLIES/LAND MATERI… 612.94
227-4026-0000-670035 UTIL/OTHER 15.91
306-5107-0000-670015 UTIL/GAS-ELECTR 3,225.28
401-1012-0000-630016 COMPTR CONSLTNT 3,875.00
401-1012-0000-660024 SUPPLIES/NON CAPITALI… 3,483.64
403-1012-0000-710856 CAPITAL ASSETS-CAMER… 947.79
Grand Total: 93,446.64
Project Account Summary
Project Account Key Payment Amount
**None** 93,446.64
Grand Total: 93,446.64
2026-04-03
Item 9.2
City Council Meeting Agenda - Page 17 of 159 - Monday, April 20, 2026 4/10/2026 11:22:51 AM Page 1 of 7
Expense Approval Report
Pleasant Hill, CA By Vendor Name
Payment Dates 4/10/2026 - 4/10/2026
Vendor Name Payable Number Post Date Description (Item) Account Number Payment Number Payment Date Amount Vendor: AAN01 - AANTEX PEST CONTROL
AANTEX PEST CONTROL 699922 04/10/2026 MONTHLY PEST CONTROL AT…101-5097-0000-650016 349747 04/10/2026 85.00 Vendor AAN01 - AANTEX PEST CONTROL Total: 85.00
Vendor: AMA05 - AMAZON CAPITAL SERVICES, INC.
AMAZON CAPITAL SERVICES, …1DJH-QQMX-PJYD 04/10/2026 RETIREMENT SUPPLIES - DO… 101-1014-0000-620036 349749 04/10/2026 25.61 AMAZON CAPITAL SERVICES, …1XWF-6J71-KCJQ 04/10/2026 WALKING PAD FOR FRED P… 101-4013-0000-660016 349748 04/10/2026 109.22 Vendor AMA05 - AMAZON CAPITAL SERVICES, INC. Total: 134.83 Vendor: SUN13 - B&D TOWING CONCORD
B&D TOWING CONCORD 238182 04/10/2026 TOWING PD VEHICLE 101-2001-0000-650051 349750 04/10/2026 135.00 Vendor SUN13 - B&D TOWING CONCORD Total: 135.00
Vendor: BMO23 - BMO BANK N.A. COMMERCIAL CARD
BMO BANK N.A. COMMERCI… ACCT 5569320000936041 41… 04/10/2026 CITY STAFF CC PURCH-STMT … 101-200030 349751 04/10/2026 19,770.99 Vendor BMO23 - BMO BANK N.A. COMMERCIAL CARD Total: 19,770.99 Vendor: BOU02 - BOUND TREE MEDICAL, LLC
BOUND TREE MEDICAL, LLC 86153587 04/10/2026 GLOVES 101-2001-0000-660014 349752 04/10/2026 759.62 Vendor BOU02 - BOUND TREE MEDICAL, LLC Total: 759.62
Vendor: BOA07 - CALIFORNIA DEPT OF TAX AND FEE ADMIN
CALIFORNIA DEPT OF TAX A… 260410 04/10/2026 SALES TAX TREMITT: JAN-M… 101-1019-0000-730099 349753 04/10/2026 2.43 CALIFORNIA DEPT OF TAX A… 260410 04/10/2026 SALES TAX TREMITT: JAN-M… 101-200050 349753 04/10/2026 -0.43 Vendor BOA07 - CALIFORNIA DEPT OF TAX AND FEE ADMIN Total: 2.00 Vendor: CAR27 - CARR, KRIS
CARR, KRIS 260410 04/10/2026 REIMBURSEMENT - DOUG'S … 101-5097-0000-660014 349754 04/10/2026 135.20 Vendor CAR27 - CARR, KRIS Total: 135.20
Vendor: CIN10 - CINTAS CORPORATION
CINTAS CORPORATION 9366040797 04/10/2026 AED AUTO AGREEMENT 101-1015-0000-680025 349755 04/10/2026 1,179.90 Vendor CIN10 - CINTAS CORPORATION Total: 1,179.90
Vendor: COM47 - COMCAST
COMCAST 1003846189 04/10/2026 MONTHLY INTERNET SERVICE 101-2001-0000-670010 349756 04/10/2026 25.39 Vendor COM47 - COMCAST Total: 25.39
Vendor: COU27 - COULSON & ASSOCIATES
COULSON & ASSOCIATES 25-029/25-033 04/10/2026 ADMINISTRATIVE - NON - RE… 101-3001-0000-630022 349757 04/10/2026 1,360.00 COULSON & ASSOCIATES 25-030 04/10/2026 PO/90014 ON-CALL ENGR SV… 101-220013 349757 04/10/2026 255.00 COULSON & ASSOCIATES 25-034 04/10/2026 PO/90014 ON-CALL ENGR SV… 101-220013 349757 04/10/2026 1,020.00 Vendor COU27 - COULSON & ASSOCIATES Total: 2,635.00
Item 9.2
City Council Meeting Agenda - Page 18 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/10/2026 - 4/10/2026 4/10/2026 11:22:51 AM Page 2 of 7
Vendor Name Payable Number Post Date Description (Item) Account Number Payment Number Payment Date Amount Vendor: CRI07 - CRIME SCENE CLEANERS, INC
CRIME SCENE CLEANERS, INC 97186 04/10/2026 CLEAN-UP OF VEHICLE 101-2001-0000-630041 349758 04/10/2026 130.00 CRIME SCENE CLEANERS, INC 97261 04/10/2026 CLEAN - UP OF VEHICLE & B… 101-2001-0000-630041 349758 04/10/2026 260.00 Vendor CRI07 - CRIME SCENE CLEANERS, INC Total: 390.00
Vendor: DEN03 - DENALECT ALARM CO.
DENALECT ALARM CO. 945062;945065 04/10/2026 REPLACE BATTERIES (5) FOR … 101-1016-0000-630040 349759 04/10/2026 157.32 DENALECT ALARM CO. 945062;945065 04/10/2026 REPLACE BATTERIES (5) FOR … 101-1016-0000-630040 349759 04/10/2026 39.33 Vendor DEN03 - DENALECT ALARM CO. Total: 196.65
Vendor: DIV04 - DIVISION OF THE STATE ARC
DIVISION OF THE STATE ARC 260410 04/10/2026 SB1186 QTR REPORT JAN - … 203-240096 349760 04/10/2026 860.40 Vendor DIV04 - DIVISION OF THE STATE ARC Total: 860.40
Vendor: ENG04 - ENGEO INC.
ENGEO INC. 310342 04/10/2026 GEOTECH & CONST SVCS- M… 101-3004-0000-630040 349761 04/10/2026 6,663.50 Vendor ENG04 - ENGEO INC. Total: 6,663.50
Vendor: FJK01 - F.J. KENNEDY AND ASSOCIATES, INC.
F.J. KENNEDY AND ASSOCIAT… 26-055 04/10/2026 PO/30016 STORMWATER PR… 231-3001-0000-630040 349762 04/10/2026 1,530.70 Vendor FJK01 - F.J. KENNEDY AND ASSOCIATES, INC. Total: 1,530.70 Vendor: FOR06 - FORENSIC SERVICES DIVISION
FORENSIC SERVICES DIVISION PHPD- 2602-SUPP 04/10/2026 DRUGS/ALCO/TOXI TSTG FOR…101-2001-0000-630033 349763 04/10/2026 635.25 FORENSIC SERVICES DIVISION PHPD-2602 04/10/2026 DRUGS/ALCOHOL/ TOXICOL… 101-2001-0000-630033 349763 04/10/2026 8,966.00 Vendor FOR06 - FORENSIC SERVICES DIVISION Total: 9,601.25 Vendor: GAR14 - GARTNER, ANDREW
GARTNER, ANDREW 260410 04/10/2026 Per DiemTraini cls-lunches Br…101-2001-0000-640011 349764 04/10/2026 92.00 Vendor GAR14 - GARTNER, ANDREW Total: 92.00
Vendor: GEN10 - GENERAL PLUMBING SUPPLY
GENERAL PLUMBING SUPPLY S6612132.001 04/10/2026 PD:SLOAN URIN REP KT (3);S… 101-5097-0000-650016 349765 04/10/2026 69.43 GENERAL PLUMBING SUPPLY S6612132.001 04/10/2026 PD:SLOAN URIN REP KT (3);S… 101-5097-0000-650016 349765 04/10/2026 96.82 GENERAL PLUMBING SUPPLY S6612132.001 04/10/2026 PD:SLOAN URIN REP KT (3);S… 101-5097-0000-650016 349765 04/10/2026 139.55 Vendor GEN10 - GENERAL PLUMBING SUPPLY Total: 305.80
Vendor: GRE16 - GREEN HALO SYSTEMS
GREEN HALO SYSTEMS 6441 04/10/2026 HOSTING AND MAINT FOR A… 101-4013-0000-630040 349766 04/10/2026 204.00 Vendor GRE16 - GREEN HALO SYSTEMS Total: 204.00
Vendor: HAR46 - HARBOR FREIGHT
HARBOR FREIGHT 0561b09a 04/10/2026 AUTO SHOP SUPPLIES REFRI… 101-5097-0000-660011 349767 04/10/2026 218.46 Vendor HAR46 - HARBOR FREIGHT Total: 218.46
Vendor: HEA04 - HEALTH CARE DENTAL TRUST
HEALTH CARE DENTAL TRUST 240410 04/10/2026 CITY-PD DENTAL COVERAGE … 101-2001-0000-612090 349768 04/10/2026 127.80 HEALTH CARE DENTAL TRUST 260410 A 04/10/2026 CITY-PD DENTAL COVERAGE … 101-2001-0000-612090 349768 04/10/2026 54.29 HEALTH CARE DENTAL TRUST 260410 B 04/10/2026 COBRA DENTAL COVERAGE … 101-210037 349768 04/10/2026 54.29 Item 9.2
City Council Meeting Agenda - Page 19 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/10/2026 - 4/10/2026 4/10/2026 11:22:51 AM Page 3 of 7
Vendor Name Payable Number Post Date Description (Item) Account Number Payment Number Payment Date Amount HEALTH CARE DENTAL TRUST 260410 C 04/10/2026 COBRA DENTAL COVERAGE … 101-210037 349768 04/10/2026 54.29 Vendor HEA04 - HEALTH CARE DENTAL TRUST Total: 290.67
Vendor: HOL24 - HOLISTIC SOLUTIONS LLC
HOLISTIC SOLUTIONS LLC 2711 04/10/2026 PO/10140 CONSULTING SVCS 101-1014-0000-630040 349769 04/10/2026 2,888.65 HOLISTIC SOLUTIONS LLC 2711 A 04/10/2026 PO/10140 CONSULTING SVCS 101-1014-0000-630040 349769 04/10/2026 2,111.35 Vendor HOL24 - HOLISTIC SOLUTIONS LLC Total: 5,000.00
Vendor: HON01 - HONEYWELL INT'L INC.
HONEYWELL INT'L INC. 5272520222 04/10/2026 PSC:INST HI-BAY HEAT N AU… 101-5097-0000-630040 349770 04/10/2026 1,366.95 HONEYWELL INT'L INC. 5272520222 04/10/2026 PSC:INST HI-BAY HEAT N AU… 101-5097-0000-630040 349770 04/10/2026 1,999.98 HONEYWELL INT'L INC. 5272520223 04/10/2026 PH LIBRARY HVAC 103-5105-0000-650017 349770 04/10/2026 10,364.31 HONEYWELL INT'L INC. 5272520224 04/10/2026 CITY HALL: BMS COMMUNIC… 101-5097-0000-650017 349770 04/10/2026 897.15 HONEYWELL INT'L INC. 5272601473 04/10/2026 MECHANICAL AND ELEC 5/1/… 101-5097-0000-650038 349770 04/10/2026 19,418.86 Vendor HON01 - HONEYWELL INT'L INC. Total: 34,047.25
Vendor: IDI58 - IDI
IDI IN1075090 04/10/2026 CLEAN-UP OF VEHICLE 101-2001-0000-620122 349771 04/10/2026 270.50 Vendor IDI58 - IDI Total: 270.50
Vendor: IED01 - IEDA
IEDA 200617330 04/10/2026 MEMBER DUES FOR LABOR R…101-1014-0000-630040 349772 04/10/2026 2,447.09 Vendor IED01 - IEDA Total: 2,447.09
Vendor: INT16 - INTOXIMETERS, INC.
INTOXIMETERS, INC. 812341 04/10/2026 ALCO SENSOR FST DEVICES (6) 101-2001-0000-660014 349773 04/10/2026 3,245.67 INTOXIMETERS, INC. 812348 04/10/2026 ALCO SENSOR FST MOUTHPI… 101-2001-0000-660014 349773 04/10/2026 121.88 Vendor INT16 - INTOXIMETERS, INC. Total: 3,367.55
Vendor: KAI25 - KAISER FOUNDATION HEALTH PLAN
KAISER FOUNDATION HEALT… 260410 04/10/2026 CITY PD KAISER COVERAGE F… 101-2001-0000-612070 349774 04/10/2026 956.89 KAISER FOUNDATION HEALT… 260410 A 04/10/2026 CITY PD KAISER COVERAGE F… 101-2001-0000-612070 349774 04/10/2026 2,488.43 Vendor KAI25 - KAISER FOUNDATION HEALTH PLAN Total: 3,445.32 Vendor: KAR04 - KARSTE CONSULTING INC.
KARSTE CONSULTING INC. 2025/26-8 04/10/2026 EOC CONSULTING SVCS ( 3/1… 101-2001-0000-630033 349775 04/10/2026 2,300.00 Vendor KAR04 - KARSTE CONSULTING INC. Total: 2,300.00
Vendor: KON01 - KONE
KONE 871985150 04/10/2026 QRTRLY ELEVATOR SERVICIN… 101-2001-0000-650019 349776 04/10/2026 2,194.08 Vendor KON01 - KONE Total: 2,194.08
Vendor: CUR06 - L.N. CURTIS & SONS
L.N. CURTIS & SONS INV1056129 04/10/2026 PO/200120 NIGHT VIS GOGG…101-2001-2011-710844 349777 04/10/2026 47,981.13 Vendor CUR06 - L.N. CURTIS & SONS Total: 47,981.13
Vendor: BEL25 - LA, BELLE
LA, BELLE 260410 04/10/2026 TRAV EXPE REP: CAL CIT HSG… 101-1001-0000-640021 349778 04/10/2026 163.71 Vendor BEL25 - LA, BELLE Total: 163.71
Item 9.2
City Council Meeting Agenda - Page 20 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/10/2026 - 4/10/2026 4/10/2026 11:22:51 AM Page 4 of 7
Vendor Name Payable Number Post Date Description (Item) Account Number Payment Number Payment Date Amount Vendor: HUN04 - LARRYLOGIC PRODUCTIONS
LARRYLOGIC PRODUCTIONS 2360 04/10/2026 CIT COUN MTG 4/26/26; PST… 101-1001-0000-630040 349779 04/10/2026 225.00 LARRYLOGIC PRODUCTIONS 2360 04/10/2026 CIT COUN MTG 4/26/26; PST… 101-1001-0000-630040 349779 04/10/2026 337.50 Vendor HUN04 - LARRYLOGIC PRODUCTIONS Total: 562.50
Vendor: LEP01 - LEPTIEN, CRONIN, COOPER
LEPTIEN, CRONIN, COOPER 34034 04/10/2026 PO/50650 RUTH & SHELLY DR…231-5065-0000-630034 349780 04/10/2026 33,211.00 Vendor LEP01 - LEPTIEN, CRONIN, COOPER Total: 33,211.00 Vendor: MAC11 - MACIAS GINI & O'CONNELL LLP
MACIAS GINI & O'CONNELL L… 525589;525588 04/10/2026 FIN IN CONN W/ THE CIT OF … 101-1010-0000-630015 349781 04/10/2026 1,200.00 MACIAS GINI & O'CONNELL L… 525589;525588 04/10/2026 FIN IN CONN W/ THE CIT OF … 101-1010-0000-630015 349781 04/10/2026 1,400.00 Vendor MAC11 - MACIAS GINI & O'CONNELL LLP Total: 2,600.00 Vendor: MAR26 - MARGARET BARRY, LCSW
MARGARET BARRY, LCSW 1 04/10/2026 DEPT THERAPIST SVCS 241-2005-0000-630040 349782 04/10/2026 1,600.00 Vendor MAR26 - MARGARET BARRY, LCSW Total: 1,600.00
Vendor: MCK03 - MCK SERVICES, INC.
MCK SERVICES, INC. 4 04/10/2026 PO/2025 ST RESURFACING P… 301-5063-0000-800030 349800 04/10/2026 300,022.25 MCK SERVICES, INC. 5 R1 04/10/2026 PO/2025 ST RESURFACING P… 301-5063-0000-800030 349800 04/10/2026 95,722.00 Vendor MCK03 - MCK SERVICES, INC. Total: 395,744.25
Vendor: MON23 - MONUMENT INVESTMENTS, L.P.
MONUMENT INVESTMENTS, …260410 04/10/2026 AGENCY ASSISTANCE PMT- K… 899-6001-0000-750904 349783 04/10/2026 90,000.00 Vendor MON23 - MONUMENT INVESTMENTS, L.P. Total: 90,000.00 Vendor: MON24 - MONUMENT INVESTMENTS, L.P.
MONUMENT INVESTMENTS, …260410 04/10/2026 AGENCY ASSISTANCE PMT- F… 899-6001-0000-750905 349801 04/10/2026 239,700.16 Vendor MON24 - MONUMENT INVESTMENTS, L.P. Total: 239,700.16 Vendor: OBO24 - Obolenskiy, Andrei
Obolenskiy, Andrei 260410 04/10/2026 TRAV EXP REP MAYOR & CO… 101-1001-0000-640021 349784 04/10/2026 171.60 Vendor OBO24 - Obolenskiy, Andrei Total: 171.60
Vendor: OFF20 - ODP BUSINESS SOLUTIONS, LLC
ODP BUSINESS SOLUTIONS, L…464285764001 04/10/2026 TISSUES, INK 101-2001-0000-660016 349785 04/10/2026 136.22 ODP BUSINESS SOLUTIONS, L…464622712001 04/10/2026 NOTE PADS, ETC 101-2001-0000-660016 349786 04/10/2026 62.90 Vendor OFF20 - ODP BUSINESS SOLUTIONS, LLC Total: 199.12 Vendor: PAK01 - PAKPOUR CONSULTING GROUP, INC.
PAKPOUR CONSULTING GRO… 4970 04/10/2026 PO/20017 PROV ON-CALL E… 101-220013 349787 04/10/2026 9,639.00 PAKPOUR CONSULTING GRO… 4971 04/10/2026 PO/20017 PROV ON-CALL E… 101-220013 349787 04/10/2026 378.00 PAKPOUR CONSULTING GRO… 4972 04/10/2026 PO/20017 PROV ON-CALL E… 101-220013 349787 04/10/2026 236.25 PAKPOUR CONSULTING GRO… 4973 04/10/2026 PO/20017 PROV ON-CALL E… 101-220013 349787 04/10/2026 567.00 Vendor PAK01 - PAKPOUR CONSULTING GROUP, INC. Total: 10,820.25 Vendor: PGE01 - PG&E
PG&E 260410 04/10/2026 SUMM BLG- TRAFFIC SIGNAL… 306-5107-0000-670015 349791 04/10/2026 165.44 PG&E 260410 04/10/2026 SUMM BLG- TRAFFIC SIGNAL… 306-5107-0000-670015 349791 04/10/2026 12.72 Item 9.2
City Council Meeting Agenda - Page 21 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/10/2026 - 4/10/2026 4/10/2026 11:22:51 AM Page 5 of 7
Vendor Name Payable Number Post Date Description (Item) Account Number Payment Number Payment Date Amount PG&E 260410 04/10/2026 SUMM BLG- TRAFFIC SIGNAL… 306-5107-0000-670015 349791 04/10/2026 757.21 PG&E ACCT 1398597625-0 40126 04/10/2026 CH ACCT 101-1016-0000-670015 349790 04/10/2026 7.84 PG&E ACCT 3390104380-3 32526 04/10/2026 2 MONTICELLO AVE - LIBRARY 103-5105-0000-670015 349792 04/10/2026 5,557.88 PG&E ACCT 3532838416-5 4126 04/10/2026 TRAFFIC SIGNAL - 389 GOLF … 306-4019-0000-670015 349788 04/10/2026 252.14 PG&E ACCT 4107660120-6 32326 04/10/2026 SUMM BLG- UNIFIED ST LIGH…221-1020-0000-670015 349789 04/10/2026 19,661.01 Vendor PGE01 - PG&E Total: 26,414.24
Vendor: REW24 - REWARDIAN, LLC
REWARDIAN, LLC 14866 04/10/2026 PO/140-A EMPLO REC AND R…101-1014-0000-620034 349793 04/10/2026 282.50 Vendor REW24 - REWARDIAN, LLC Total: 282.50
Vendor: ROB03 - ROBERT HALF
ROBERT HALF 66090966 04/10/2026 PYCK FOR PER-DIEM EMPLO… 101-2001-0000-611050 349794 04/10/2026 3,531.00 Vendor ROB03 - ROBERT HALF Total: 3,531.00
Vendor: STA01 - STAPLES
STAPLES 7009266789 04/10/2026 OFFICE SUPPLIES FOR CH 101-1016-0000-660016 349795 04/10/2026 852.93 Vendor STA01 - STAPLES Total: 852.93
Vendor: TIR03 - TIREHUB, LLC
TIREHUB, LLC 55676987 04/10/2026 TR (QTY 5)-2556018 GY EAGL…101-5097-0000-620065 349796 04/10/2026 707.84 TIREHUB, LLC 55676987 04/10/2026 TR (QTY 5)-2556018 GY EAGL…101-5097-0000-620065 349796 04/10/2026 496.44 Vendor TIR03 - TIREHUB, LLC Total: 1,204.28
Vendor: T-M02 - T-MOBILE USA, INC
T-MOBILE USA, INC L2603270292 04/10/2026 INVESTIGATIONS PHONE TR… 101-2001-0000-670020 349797 04/10/2026 50.00 Vendor T-M02 - T-MOBILE USA, INC Total: 50.00
Vendor: TRA17 - TRAFFIC PATTERNS, LLC
TRAFFIC PATTERNS, LLC 2026-514 04/10/2026 TRAFF ENGR SUPP-TRAFF SG… 101-3001-0000-630022 349798 04/10/2026 4,320.00 Vendor TRA17 - TRAFFIC PATTERNS, LLC Total: 4,320.00
Vendor: VIS05 - VISION SERVICE PLAN- (CA)
VISION SERVICE PLAN- (CA) 260410 04/10/2026 CITY PD VISION FOR MAY 20… 101-2001-0000-612130 349799 04/10/2026 15.22 Vendor VIS05 - VISION SERVICE PLAN- (CA) Total: 15.22
Grand Total: 957,712.04
Item 9.2
City Council Meeting Agenda - Page 22 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/10/2026 - 4/10/2026 4/10/2026 11:22:51 AM Page 6 of 7
Report Summary
Fund Summary
Fund Payment Amount
101 - GENERAL FUND 158,294.82
103 - MEASURE K FUND 15,922.19
203 - DISABILITY ACCESS FUND 860.40
221 - UNIFIED LIGHTING DISTRICT FUND 19,661.01
231 - NPDES/STORMWATER 34,741.70
241 - SUPPLEMENTAL LAW ENFORCEMENT SERVICES FU… 1,600.00 301 - GAS TAX FUND 395,744.25
306 - MEASURE J FUND 1,187.51
899 - REDEVELOP PROP TAX TRUST FUND-SUCCESSOR A… 329,700.16 Grand Total: 957,712.04
Account Summary
Account Number Account Name Payment Amount
101-1001-0000-630040 CONTRACTUAL SVC 562.50
101-1001-0000-640021 EDUC/CONF/O/N 335.31
101-1010-0000-630015 AUDITING SVCS 2,600.00
101-1014-0000-620034 EMPL RECOG/AWDS 282.50
101-1014-0000-620036 RETIREE AWARDS 25.61
101-1014-0000-630040 CONTRACTUAL SVC 7,447.09
101-1015-0000-680025 INSURANCE/BLDG,PROP 1,179.90
101-1016-0000-630040 CONTRACTUAL SVC 196.65
101-1016-0000-660016 SUPPLIES/OFFICE 852.93
101-1016-0000-670015 UTIL/GAS-ELECTR 7.84
101-1019-0000-730099 CASH OVER/(SHORT) 2.43
101-200030 CREDIT CARD PAYABLE 19,770.99
101-200050 SALES TAX PAYABLE -0.43
101-2001-0000-611050 SALARY-PART TIME TEM… 3,531.00
101-2001-0000-612070 INSURANCE/KAISER 3,445.32
101-2001-0000-612090 INSURANCE/DENTAL 182.09
101-2001-0000-612130 INSURANCE/VISION 15.22
101-2001-0000-620122 PUBLICATIONS/SUBSCRI… 270.50
101-2001-0000-630033 P.D. OTHER SVCS 11,901.25
101-2001-0000-630041 HAZ WASTE SVCS 390.00
101-2001-0000-640011 POST TRAING SVC 92.00
101-2001-0000-650019 MAINT/ELEVATOR 2,194.08
101-2001-0000-650051 MAINT/P.D. AUTO 135.00
101-2001-0000-660014 SUPPLIES/OPERATING 4,127.17
101-2001-0000-660016 SUPPLIES/OFFICE 199.12
101-2001-0000-670010 UTIL/COMMUNCTNS 25.39
101-2001-0000-670020 UTIL/TELEPHONE 50.00
Item 9.2
City Council Meeting Agenda - Page 23 of 159 - Monday, April 20, 2026 Expense Approval Report Payment Dates: 4/10/2026 - 4/10/2026 4/10/2026 11:22:51 AM Page 7 of 7
Account Summary
Account Number Account Name Payment Amount
101-2001-2011-710844 CAPITAL ASSETS-EQUIP… 47,981.13
101-210037 COBRA - HEALTH BENEFI… 108.58
101-220013 REFUNDABLE DEPOSITS … 12,095.25
101-3001-0000-630022 CONSULTANT STAFF 5,680.00
101-3004-0000-630040 CONTRACTUAL SVC 6,663.50
101-4013-0000-630040 CONTRACTUAL SVC 204.00
101-4013-0000-660016 SUPPLIES/OFFICE 109.22
101-5097-0000-620065 AUTO/PRTS/TIRES 1,204.28
101-5097-0000-630040 CONTRACTUAL SVC 3,366.93
101-5097-0000-650016 MAINT/PD BLDG 390.80
101-5097-0000-650017 MAINT/CH BLDG 897.15
101-5097-0000-650038 MAINT/AC & HEAT 19,418.86
101-5097-0000-660011 AUTO/SUPPLIES 218.46
101-5097-0000-660014 SUPPLIES/OPERATING 135.20
103-5105-0000-650017 MAINT/CH BLDG 10,364.31
103-5105-0000-670015 UTIL/GAS-ELECTR 5,557.88
203-240096 DISABILITY ACCESS FEE 860.40
221-1020-0000-670015 UTIL/GAS-ELECTR 19,661.01
231-3001-0000-630040 CONTRACTUAL SVC 1,530.70
231-5065-0000-630034 ENGINEERING 33,211.00
241-2005-0000-630040 CONTRACTUAL SVC 1,600.00
301-5063-0000-800030 CONSTRUCTION 395,744.25
306-4019-0000-670015 UTIL/GAS-ELECTR 252.14
306-5107-0000-670015 UTIL/GAS-ELECTR 935.37
899-6001-0000-750904 KOHLS-CROSSROADS 90,000.00
899-6001-0000-750905 FRIEDMANS 239,700.16
Grand Total: 957,712.04
Project Account Summary
Project Account Key Payment Amount
**None** 957,712.04
Grand Total: 957,712.04
2026-04-10
Item 9.2
City Council Meeting Agenda - Page 24 of 159 - Monday, April 20, 2026
100 Gregory Lane, Pleasant Hill, CA 94523-3323 – (925) 671-5270 www.pleasanthillca.org
MEMORANDUM
TO: City Councilmembers
FROM: Interview and Nominating Committee:
Councilmember Amanda Szakats, Councilmember Belle La
DATE: April 20, 2026
SUBJECT: Approve Appointment Recommendations to the Diversity Commission, Planning Commission, Commission on Aging, and Education Commission The Interview and Nominating Committee recommends the City Council approve the appointments:
APPOINTMENTS TERMS/EXPIRATION DATES
Diversity Commission – Jeanne Casey September 2027
Planning Commission – William Nelson April 2030
Commission on Aging – Jenny Lind April 2030
Commission on Aging – Marion Gizzi April 2030
Education Commission – Jeanne Donovan April 2030
Education Commission – Jeff Guido April 2030
Item 9.3
City Council Meeting Agenda - Page 25 of 159 - Monday, April 20, 2026
CITY COUNCIL STAFF REPORT
Meeting Date: April 20, 2026
TO: THE HONORABLE MAYOR AND CITY COUNCILMEMBERS
TITLE: ADOPTION OF THE RENEWAL OF ORDINANCE 954 REGARDING
SPECIALIZED OR MILITARY EQUIPMENT AVAILABLE FOR USE
BY THE PLEASANT HILL POLICE DEPARTMENT PURSUANT TO AB
481.
SYNOPSIS
The Military Equipment Use ordinance and policy, first approved by City Council in March 2022, established guidelines for the acquisition, funding, use, and reporting of special or “military equipment,” as the term is defined in Government Code section 7070, within the City of Pleasant Hill. The ordinance and policy fulfilled the obligations set forth in Assembly Bill 481 (AB481). Each year, the City is required to renew the ordinance and policy. At the City Council’s meeting on April 6, 2026, the policy was renewed, and the renewed ordinance received its first reading or introduction. At this meeting, the City Council should approve the ordinance’s second reading and formally adopt the renewed ordinance.
FISCAL IMPACT
There are no financial considerations for the Pleasant Hill Police Department’s existing special or military equipment and munitions.
PUBLIC CONTACT
Public Contact was made through posting of the City Council agenda on the City’s official notice bulletin board, at the Pleasant Hill Senior Center, and at the Pleasant Hill Police Department. The agenda and staff report are posted on the City’s web page.
RECOMMENDED CITY COUNCIL ACTION
Staff recommends the City Council approve the second reading of uncodified Ordinance No. 954, thereby adopting the renewed AB 481 Ordinance regarding Specialized or Military Equipment.
Item 9.4
City Council Meeting Agenda - Page 26 of 159 - Monday, April 20, 2026
ALTERNATIVES TO RECOMMENDED ACTION
The City Council may decide not to approve second reading of Ordinance No. 954 prohibiting use of some or all of the specialized or military equipment items. However, staff is not aware of alternative equipment that will achieve the same objectives of safeguarding community and officer safety. There are no reasonable alternatives that will allow the department to continue to utilize legally the numerated military equipment without Council approval.
ATTACHMENT(S)
AB 481 Ordinance No. 954
Prepared by: Jason Kleven, Police Lieutenant
Reviewed by: Scott Vermillion, Chief of Police
Approved by: Ethan Bindernagel, City Manager
Item 9.4
City Council Meeting Agenda - Page 27 of 159 - Monday, April 20, 2026 Item 9.4
City Council Meeting Agenda - Page 28 of 159 - Monday, April 20, 2026 Item 9.4
City Council Meeting Agenda - Page 29 of 159 - Monday, April 20, 2026 Item 9.4
City Council Meeting Agenda - Page 30 of 159 - Monday, April 20, 2026
CITY COUNCIL STAFF REPORT
Meeting Date: April 20, 2026
TO: THE HONORABLE MAYOR AND CITY COUNCILMEMBERS
TITLE: ADOPT RESOLUTION NO. __-26 DESIGNATING CITY OFFICIALS
AND EMPLOYEES REQUIRED TO RECEIVE FISCAL AND
FINANCIAL TRAINING
SYNOPSIS
Senate Bill 827 (“SB 827”), adopted in 2025 and codified in California Government Code Section 53238, requires that any elected or appointed local agency official, or any department head or similar administrative officer, or any employee designated by a local agency governing body, must complete two hours of fiscal and financial training every two years.
DISCUSSION
SB827, now codified in the Government Code in Section 53238 and commonly referred to as “Fiscal and Financial Training,” was adopted in 2025 and requires that all local agency officials receive specified training. Government Code Section 53238(d) defines “local agency official” as any member of a local agency legislative body or any elected officer of a local agency; any official who is appointed by the governing body who, as part of their official duties, makes decisions or recommendations regarding financial administration, budgeting, or the use of public resources; a local agency executive, or other similar administrative officer of a local agency or any employee designated by a local agency governing body to receive the training.
The statute provides that training on the following topics be provided to the designated individuals:
(1) Laws and principles relating to financial administration and short- and long-term fiscal management, including, but not limited to, the role and responsibilities of financial administration, financial policies, municipal budgets and budget processes, and financial reporting and auditing. (2) Laws and principles relating to, but not limited to, capital financing and debt management, mechanisms for local agency revenues, pensions and other postemployment benefits, cash management and investments, the prudent investor standard, and the ethics of safeguarding public resources.
Item 9.5
City Council Meeting Agenda - Page 31 of 159 - Monday, April 20, 2026 (3) General fiscal and financial planning principles and any pertinent laws relevant to the local agency official’s public service and role in overseeing the local agency’s operations and relevant to the local agency’s procurement and contracting practices and responsibilities.
Elected and appointed local agency officials who began their service before January 1, 2026, must complete their first fiscal and financial training before January 1, 2028. Staff who are required to complete fiscal and financial training and who were in their positions on January 1, 2026, also have a two-year deadline to complete their first fiscal and financial training (i.e., by January 1, 2028). Elected and appointed local agency officials who began their service after January 1, 2026, must complete training within six months of appointment. Staff who must receive training and who are hired after January 1, 2026, must complete training within six months of hire.
Analysis
While the statute establishes a January 1, 2028 deadline to complete training for those local agency officials and staff serving before January 1, 2026, staff recommends that the City Council require completion of required training for those individuals on the following revised timeline:
1) local agency officials including current appointees, current staff liaisons, and the City Manager and City Attorney within 90 days of adoption of the proposed resolution and every two years thereafter, as required by statute; and 2) future staff liaisons/employees within 60 days of assuming that role and every two years thereafter, as required by statute.
FISCAL IMPACT
The fiscal impact is minimal to require the training, as it will be available as part of the current training platform, Vector Solutions. Additionally, the cost of paid staff time to track the training and for staff to attend two-hour biennial training is minimal.
PUBLIC CONTACT
Public contact was made through posting of the City Council agenda on the City’s official notice bulletin board, at the Pleasant Hill Senior Center, and at the Pleasant Hill Police Department. The agenda and staff report are posted on the City’s web page.
RECOMMENDED CITY COUNCIL ACTION
Adopt the proposed resolution.
ALTERNATIVES TO RECOMMENDED ACTION
The City Council could choose not to adopt the proposed resolution and provide direction to staff.
Item 9.5
City Council Meeting Agenda - Page 32 of 159 - Monday, April 20, 2026
ATTACHMENT(S)
Proposed Resolution
Prepared by: Ericka R. Mitchell, Chief Human Resources Officer Approved by: Ethan Bindernagel, City Manager
Item 9.5
City Council Meeting Agenda - Page 33 of 159 - Monday, April 20, 2026 RESOLUTION NO. __-26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANT HILL
DESIGNATING CITY OFFICIALS AND EMPLOYEES REQUIRED TO RECEIVE FISCAL AND FINANCIAL TRAINING AS PROVIDED IN GOVERNMENT CODE SECTION 53238 WHEREAS, Senate Bill 827 ("SB 827"), adopted in 2025 and now codified in Government Code Section 53238, requires local agency officials to receive specified training; and WHEREAS, Government Code Section 53238 defines "Local agency official" as any member of a local agency legislative body or any elected officer of a local agency; any official who is appointed by the governing body who, as part of their official duties, makes decisions or recommendations regarding financial administration, budgeting, or the use of public resources; a local agency executive, or other similar administrative officer of a local agency or any employee designated by a local agency governing body to receive the training; and WHEREAS, by statute, the City Council, members of the Architectural Review Commission, Planning Commission, and Diablo Vista Water System Board are required to receive the required training; and
WHEREAS, the City Council designates the Transactions and Use Tax Oversight Committee ("Measure K Oversight Committee") to receive SB 827 training; and WHEREAS, the City Council believes it to be beneficial for all City Commissioners to receive training under the statute; and
WHEREAS, the City Council wants to ensure all staff liaisons, whether to commissions, committees or boards, receive SB 827 training and provide authority to the City Manager to designate additional members of City staff to receive the training, if desired.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Pleasant Hill that in addition to the City Council, department heads, administrative officers, members of the Architectural Review Commission, Planning Commission, and Diablo Vista Water System Board who are required to receive financial training by statute, and the members of the Transactions and Use Tax Oversight Committee who are required to receive training by City Council resolution, the following are designated to receive required training as provided by statute:
1. All City of Pleasant Hill Commissioners; and
2. Each employee assigned as staff liaison to any City commission, committee or board; and
3. Department heads and similar administrative officers; and
4. The City Manager and City Attorney; and
Item 9.5
City Council Meeting Agenda - Page 34 of 159 - Monday, April 20, 2026
5. Any City employee designated by the City Manager to receive training; BE IT FURTHER RESOLVED that:
1. City Commissioners appointed as of January 1, 2026, shall be notified of the requirement and receive SB 827 compliant training within 90 days of adoption of this resolution, and every two years thereafter, as required by statute; and
2. Each employee assigned as of January 1, 2026, as a staff liaison to a City commission, committee or board, or upon designation by the City Manager shall be notified of the requirement and receive SB 827 compliant training within 90 days of adoption of this resolution (or if not currently employed or assigned, within 60 days of hire and/or assignment to staff liaison or designation by the City Manager) and then every two years thereafter, as required by statute; and
3. The City Attorney and City Manager shall be notified of the requirement and receive SB 827 compliant training within 90 days of adoption of this resolution, and then every two years thereafter as required by statute.
ADOPTED by the City Council of the City of Pleasant Hill at a regular meeting held on the 20th day of April, 2026, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
___________________________________
ZAC SHESS, Mayor
ATTEST:
Item 9.5
City Council Meeting Agenda - Page 35 of 159 - Monday, April 20, 2026
CITY COUNCIL STAFF REPORT
Meeting Date: April 20, 2026
TO: THE HONORABLE MAYOR AND CITY COUNCILMEMBERS
TITLE: PUBLIC HEARING AND ADOPT ORDINANCE NO. __, ACCESSORY
DWELLING UNIT ORDINANCE (ADU & JADU) AMENDMENT
SYNOPSIS
An amendment to the Accessory Dwelling Unit Ordinance, Section 18.15.050 of the Pleasant Hill Municipal Code, will codify provisions that were implemented as part of an Urgency Ordinance that was adopted by the City Council in December 2025 in response to recent changes to State law that impose new limits on local authority to regulate Accessory Dwelling Units (“ADUs”) and Junior Accessory Dwelling Units (“JADUs”), as well as additional revisions clarifying applicability of deed restrictions and the size of certain setbacks that were not included in the Urgency Ordinance. The first reading of this item took place at the April 6, 2026, City Council meeting; the item is now presented for a second reading and City Council’s consideration of adoption.
DISCUSSION
Deed Restrictions (PHMC § 18.15.050.G.8) and Front Setbacks (PHMC § 18.15.050.H.2.a(i)) At the April 6, 2026, public hearing, the City Council motioned to introduce the proposed ordinance with two minor modifications: 1) to remove the requirement that ADUs obtain a Deed Restriction, and 2) to establish 15-foot front yard setbacks for the R-6 and R-7 zoning districts.
These additional modifications are included in the proposed ordinance (Attachment A).
PUBLIC CONTACT
Public Contact was made through posting of the City Council agenda on the City’s official notice bulletin board, at the Pleasant Hill Senior Center, and at the Pleasant Hill Police Department. The agenda and staff report are posted on the City’s web page.
RECOMMENDED CITY COUNCIL ACTION
Adopt the Ordinance.
Item 9.6
City Council Meeting Agenda - Page 36 of 159 - Monday, April 20, 2026
ATTACHMENT(S)
Attachment A Proposed Ordinance
Prepared by: Andrew Shiflet, Associate Planner
Reviewed by: Troy Fujimoto, City Planner
Approved by: Ethan Bindernagel, City Manager
Item 9.6
City Council Meeting Agenda - Page 37 of 159 - Monday, April 20, 2026 ORDINANCE NO. ___
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PLEASANT HILL TO FORMALLY CODIFY PREVIOUSLY APPROVED AMENDMENTS TO TITLE 18 OF THE PLEASANT HILL MUNICIPAL CODE (ZONING ORDINANCE), SECTION 18.15.050,
ACCESSORY DWELLING UNITS AND JUNIOR ACCESSORY DWELLING UNITS, THAT
WERE PART OF AN URGENCY ORDINANCE
WHEREAS, the City of Pleasant Hill, California (the “City”) is a municipal corporation, duly organized under the constitution and laws of the State of California; and WHEREAS, state law authorizes cities to act by ordinance to provide for the creation and regulation of accessory dwelling units (“ADUs”) and junior accessory dwelling units (“JADUs”); and WHEREAS, the City desires to amend its local regulatory scheme for the construction of accessory dwelling units to meet new state law; and
WHEREAS, in recent years, the California Legislature has approved, and the Governor has signed into law, a number of bills that, among other things, amend various sections of the Government Code to impose new limits on local authority to regulate ADUs and JADUs; and WHEREAS, in 2025, the California Legislature approved, and the Governor signed into law further amendments to State ADU law; and
WHEREAS, on December 15, 2025, to protect the public safety, health, and welfare, the City Council adopted Ordinance No. 980 as an urgency measure in accordance with Government Code section 36937, subdivision (b).
WHEREAS, Ordinance No. 980 allows the City to apply local regulations governing height, setback, landscape, and architectural review, among other things, to certain applications for ADUs and JADUs, that would otherwise threaten the character of existing neighborhoods, and negatively impact property values, personal privacy, and fire safety.
WHEREAS, the City desires to codify the provisions of the urgency ordinance that were implemented as part of Ordinance No. 980; and
WHEREAS, after notice thereof having been duly, regularly and lawfully given, a public hearing on the proposed ordinance amendment was held by the Planning Commission on February 24, 2026, at which all interested persons might appear and be heard; and WHEREAS, on February 24, 2026, the Planning Commission adopted Resolution No. 06- 26 recommending approval of the proposed zoning ordinance amendment to the City Council; and WHEREAS, after notice thereof having been duly, regularly and lawfully given, a public hearing on the proposed ordinance amendment was held by the City Council on April 6, 2026, at which all interested persons might appear and be heard; and Item 9.6
City Council Meeting Agenda - Page 38 of 159 - Monday, April 20, 2026 WHEREAS, on April 6, 2026, the City Council reviewed additional staff-recommended revisions to the ADU Ordinance, including clarifications to deed restrictions and certain setbacks; and
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANT HILL does ordain as follows:
SECTION 1. The City Council hereby adopts the Zoning Ordinance Amendment based on the following findings according to Chapter 18.180 (Amendments – General Plan, Zoning Ordinance, and Zoning Map) of the Pleasant Hill Municipal Code:
1. The new ordinance section shall be consistent with the policies of the General Plan; See Section 2 below for consistency with the policies of the General Plan.
2. The new ordinance section shall be consistent with the purpose of the Zoning Ordinance which is to protect and promote the public health, safety and general welfare and implement the policies of the General Plan, more specifically:
a. Provide a precise guide for the physical development of the City to preserve the character and quality of the residential neighborhoods, foster convenient, harmonious and workable relationships among land uses and achieve the arrangement of land uses described in the General Plan.
The amendment clarifies provisions for accessory dwelling units within residential areas consistent with recent changes to State Law. In addition, the new ordinance will provide greater consistency with the City’s General Plan (as noted under Section 2). b. Promote the economic stability of existing land uses.
The amendment codifies provisions that were implemented by the City as part of an urgency ordinance in 2025 that is consistent with recent changes to State Law. In addition, the new ordinance provides greater consistency with the City’s General Plan, as noted in Section 2 below.
c. Prevent excessive population densities and overcrowding of land and buildings.
The ordinance amendment codifies provisions that were implemented by the City as part of an urgency ordinance in 2025 that is consistent with recent changes to State Law. Existing State provisions allow combinations of certain types of ADUs and JADUs on properties with Single Family and Multiple Family dwellings. The new ordinance will not allow increases in size or number of units than what is currently allowed, thus avoiding overcrowding.
d. Ensure the provision of adequate open space for light, air and fire safety.
The ordinance amendment codifies provisions that were implemented by the City as part of an urgency ordinance in 2025 that is consistent with recent changes to State Law. Removing the landscape screening option for Class 2 ADU’s will increase fire safety by enhancing access in setback areas. The City of Pleasant Hill will still enforce lot coverage and setback provisions to provide adequate open space for light, air and fire safety.
e. Ensure that service demands of new development will not exceed the capacities of existing streets, utilities or public services.
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City Council Meeting Agenda - Page 39 of 159 - Monday, April 20, 2026 The ordinance amendment will be in accordance with State requirements and will not increase the number of residential units beyond what is currently allowed by State law. The City already passed an urgency ordinance consistent with State provisions; thus, the amendment will have minimal effects on streets, utilities and public services.
SECTION 2. The City Council finds that the ordinance amendment will be consistent with the existing General Plan policies and programs identified in the Land Use Element and Housing Element as identified below:
1. Land Use Policy LU-3: “To provide a variety of housing types that offer choices for Pleasant Hill residents and create complete, livable neighborhoods.
The ordinance amendment will allow the City to continue providing a variety of housing types by increasing ADU and JADU construction within livable neighborhoods.
2. Land Use Program LU-3.5: “Support the development of a broad range of housing types, to increase housing choice, neighborhood diversity, and innovative design.
The ADU ordinance will support the construction of ADUs and JADUs, which will increase housing choice and further neighborhood diversity.
3. Housing Policy H-2: “Promote a diversity in tenure, type, size, location, and price to permit a choice of housing for persons of all economic levels throughout the City.” The ordinance amendment will continue to allow for ADU’s that are both different types of housing from traditional single- and multi-family residential units.
4. Housing Program H-2.5: “Promote the development of Accessory Dwelling Units (ADUs) in all residential zones.”
The ordinance amendment codifies provisions that were implemented by the City as part of an urgency ordinance in 2025. The ordinance will be consistent with State legislation that, in part, would address California’s shortage of housing supply.
SECTION 3. Section 18.15.050 of the Pleasant Hill Municipal Code is codified and replacing the urgency ordinance (Ordinance 980) with the following ordinance provisions.
18.15.050 Accessory dwelling units (ADU and JADU)
A. Purpose and Intent.
1. Purpose. The purpose of this Section is to allow and regulate accessory dwelling units (ADUs) and junior accessory dwelling units (JADUs) in compliance with Chapter 13 of Division 1 of Title 7 of the California Government Code.
2. Intent. The regulations of this Section are intended to:
a. Implement the provisions of the General Plan Housing Element.
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City Council Meeting Agenda - Page 40 of 159 - Monday, April 20, 2026 b. Assure compliance with State law.
c. Encourage the development of accessory dwelling units (ADUs) and junior accessory dwelling units (JADUs).
d. Streamline and minimize governmental constraints on residential development
e. Minimize potential adverse impacts on public health, safety, and general welfare that may be associated with accessory dwelling units.
B. Applicability. This Section contains all applicable zoning standards for accessory dwelling units (ADUs) and junior accessory dwelling units (JADUs). No additional standards from other chapters or sections of the Zoning Ordinance shall apply.
C. Building Code Compliance Required. Any construction, establishment, alteration, enlargement or modification of an ADU or JADU shall comply with the requirements of this Section and the California Building Code. An ADU or JADU that conforms to the standards in this Section will not be:
1. Deemed to be inconsistent with the General Plan and zoning district for the lot on which the ADU or JADU is located.
2. Deemed to exceed the allowable density for the lot on which the ADU or JADU is located.
3. Considered in the application of any local ordinance, policy, or program to limit residential growth.
4. Required to correct a nonconforming zoning condition, as defined in Subsection C.8 of this Section. This does not prevent the City from enforcing compliance with applicable building standards in compliance with California Health and Safety Code Section 17980.12.
D. Definitions. As used in this Section, terms are defined as follows additional terms:
1. Accessory Dwelling Unit (ADU). An attached or a detached residential dwelling unit which provides complete independent living facilities for one or more persons.
It shall include permanent provisions for living, sleeping, eating, cooking, and sanitation on the same parcel as the single-family primary dwelling unit is situated.
An accessory dwelling unit also includes the following:
a. An efficiency unit, as defined by California Health and Safety Code section 17958.1; and
b. A manufactured home, as defined by California Health and Safety Code section 18007.
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2. Complete Independent Living Facilities. Permanent provisions for living, sleeping, eating, cooking, and sanitation on the same parcel as the single-family or multifamily dwelling is or will be situated.
3. Attached. An attached structure shares a common wall with the primary residential dwelling structure on a lot. A structure that is connected to the primary residential dwelling solely by a breezeway shall not be considered attached.
4. Efficiency Kitchen. A removable kitchen that does not exceed six lineal feet and includes each of the following:
a. A cooking facility with appliances Examples of appliances that may be used include microwaves, two-burner electric stove tops refrigerators, freezers, and toaster ovens.
b. A food preparation counter and storage cabinets that are of a reasonable size in relation to the size of the JADU.
c. Food storage cabinets that total at least 30 square feet of shelf space.
5. Junior Accessory Dwelling Unit (JADU). A JADU is a residential unit that does not exceed 500 square feet of livable space and is contained entirely within an existing or proposed structure and includes an efficiency kitchen and access to either private or shared sanitation facilities within the existing structure.
6. Livable space means a space in a dwelling intended for human habitation including living, sleeping, eating, cooking, or sanitation.
7. Living Area. The interior habitable area of a dwelling unit includes basements and attics but does not include a garage or any accessory structure.
8. Nonconforming Zoning Condition. A physical improvement on a property that does not conform with current zoning standards.
9. Passageway. A pathway that is unobstructed clear to the sky and extends from a street to one entrance of the ADU or JADU.
10. Proposed Dwelling. A dwelling that is the subject of a permit application and that meets the requirements for permitting.
11. Public Transit. A location, including, but not limited to, a bus stop or train station, where the public may access buses, trains, subways, and other forms of transportation that charge set fares, run on fixed routes, and are available to the public.
12. Setback. The required front, side, and rear setback for an ADU is measured from the furthest projection of the structure (such as an eave) to the corresponding property line.
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13. Tandem Parking. When two or more automobiles are parked on a driveway or in any other location on a lot, lined up behind one another, such that the front vehicle may not be retrieved without the rear vehicle being moved.
E. Types of Accessory Dwelling Units. An ADU approved under this Section may be one of the following types:
1. Attached. An accessory dwelling unit that is created in whole or in part from newly constructed space that is attached to the proposed or existing primary dwelling, such as through a shared wall, floor, or ceiling.
2. Detached. An accessory dwelling unit that is created from newly constructed space that is detached or separated from the proposed or existing primary dwelling The detached accessory dwelling unit shall be located on the same lot as the proposed or existing primary dwelling.
3. Converted. An accessory dwelling unit that is entirely located within the proposed or existing primary dwelling or accessory structure, including but not limited to attached garages, storage areas, or similar uses; or an accessory structure including but not limited to studio, pool house, or other similar structure. Converted spaces may include an expansion of not more than 150 square feet beyond the same physical dimensions of the existing space for the sole purpose of accommodating ingress and egress to the unit.
4. Junior Accessory Dwelling Unit. A junior accessory dwelling unit is a unit that meets all the following:
a. Shall only be allowed on lots zoned for single-unit residences and that include an existing or proposed single-family dwelling. b. Is entirely located within a proposed or existing primary single-family dwelling (an enclosed use within the residence, such as an attached garage, is considered to be a part of and contained within the single-family structure).
c. Has independent exterior access from the primary dwelling. d. Has sanitation facilities that are either shared with or separate from those of the primary dwelling.
e. Includes an efficiency kitchen as defined in Subparagraph D.4 of this Section.
F. General Requirements for Approval. The following approvals apply to ADUs and JADUs under this Section:
1. Class 1: Statutorily Regulated. Class 1 ADUs and JADUs are approved with an ADU permit and building permit under Government Code section 66323. If an Item 9.6
City Council Meeting Agenda - Page 43 of 159 - Monday, April 20, 2026 ADU or JADU complies with each of the general requirements in subsection G below, it is allowed in each of the scenarios provided in this subsection F.1. An ADU and JADU approved under subsection F.1.a may be combined with an ADU approved under subsection F.1.b, and ADUs approved under subsection F.1.c may be combined with ADUs approved under subsection F.1.d.
a. One Converted ADU and One JADU on a Lot with Single-Family. One converted ADU as defined in Subparagraph E.3 of this Section and one JADU shall be allowed on a lot with a proposed or existing single-family dwelling if all of the following apply:
i. Is either: within the space of a proposed single-family dwelling; within the existing space of an existing single-family dwelling; or (in the case of an ADU only) within the existing space of an accessory structure, plus up to 150 additional square feet if the expansion is limited to accommodating ingress and egress; and ii. The converted ADU has exterior access that is independent from the single-family dwelling; and
iii. The converted ADU has side and rear setbacks sufficient for fire and safety, as dictated by applicable building and fire codes. iv. The JADU, if applicable, complies with the requirements of Government Code Sections 66333 through 66339.
b. One Detached ADU on a Lot with Single-Family. One detached, newconstruction ADU shall be allowed on a lot with a proposed or existing single-family dwelling, if all the following conditions are met:
i. The side and rear setbacks of the detached ADU are at least four feet.
ii. The total floor area of the detached ADU is 800 square feet of livable space or smaller.
iii. The peak height above finished grade does not exceed the applicable height limit in Subparagraphs G.2.a through G.2.c of this Section. c. Converted ADU(s) on a Lot with Multi-Family. One or more ADUs within portions of existing multi-family dwelling structures that are not used as livable space (e.g., storage rooms, boiler rooms, passageways, attics, basements, or garages) if each converted ADU complies with State building standards for dwellings. A least one converted ADU shall be allowed within an existing multi-family structure, up to a quantity equal to 25 percent of the existing multi-family dwelling units in the structure.
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City Council Meeting Agenda - Page 44 of 159 - Monday, April 20, 2026 d. Detached ADU on a Lot with Multi-Family. No more than two detached ADUs on a lot with a proposed multi-family dwelling, or up to eight detached ADUs on a lot with an existing multi-family dwelling, if each detached ADU satisfies the following limitations:
i. The side and rear setbacks are at least four feet. If the existing multifamily dwelling has a rear or side setback of less than four feet, the City will not require any modification to the multi-family dwelling as a condition of approving the ADU.
ii. The peak height above finished grade does not exceed the applicable height limit in Subparagraphs G.2.a through G.2.c of this Section. iii. If the lot has an existing multi-family dwelling, the quantity of detached ADUs does not exceed the number of primary dwelling units on the lot.
2. Class 2: Locally Regulated. Class 2 ADUs are approved under Government Code sections 66314-66322. Except for Class 1 ADUs approved under subsection F.1 above, all ADUs are subject to the standards set forth in subsections G and H below. a. Except as allowed under Subparagraph E.1 of this Section, no ADU may be created without a Building Permit and an ADU Permit in compliance with the standards established in Subsections G and H of this Section. b. An ADU Permit shall be processed in compliance with the standards established in Section F.3.
c. The City may charge a fee to reimburse it for costs incurred in processing ADU Permits, including any costs of adopting or amending the City’s ADU ordinance. The ADU Permit processing fee is determined by the Zoning Administrator and approved by the City Council by resolution.
3. Process and Timing.
a. Completeness
i. The City will determine whether an application to create or serve an ADU or JADU is complete and will provide written notice of the determination to the applicant within 15 business days after the City receives the application submittal.
ii. If the City determination under subsection F.3.a.i above is that the application is incomplete, the City’s notice must list the incomplete items and describe how the application can be made complete.
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City Council Meeting Agenda - Page 45 of 159 - Monday, April 20, 2026 iii. After receiving a notice that the application is incomplete, the applicant may cure and address the items that were deemed by the City to be incomplete.
iv. If the applicant submits additional information to address incomplete items, within 15 business days of the subsequent submittal the City will determine in writing whether the additional information remedies all the incomplete items that the City identified in its original notice. The City may not require the application to include an item that was not included in the original notice.
v. If the City does not make a timely determination as required by this subsection (a), the application or resubmitted application is deemed complete for the purposes of subsection F.3.c below.
vi. An applicant may appeal the City’s determination that the application is incomplete by submitting a written appeal to the City Clerk. The Planning Commission will review the written appeal and affirm or reverse the completeness determination and provide a final written determination to the applicant within 60 business days after receipt of the appeal.
b. An ADU Permit shall be considered and approved ministerially, without discretionary review or a hearing.
c. The City must approve or deny an application to create an ADU or JADU within 60 days from the date that the City receives a completed application.
If the City has not approved or denied the completed application within 60 days, the application shall be deemed approved unless either:
i. The applicant requests a delay, in which case the 60-day time period is tolled for the period of the requested delay; or
ii. An application to create an ADU or JADU is submitted with a permit application to create a new single-family or multi-family dwelling on the lot, in which case the City may delay acting on the permit application for the ADU or JADU until the City acts on the permit application to for the new single-family or multi-family dwelling, but the application to create the ADU or JADU will still be considered ministerially without discretionary review or a hearing.
d. If the City denies an application to create an ADU or JADU, the City shall provide the applicant written comments that include a list of all the defective Item 9.6
City Council Meeting Agenda - Page 46 of 159 - Monday, April 20, 2026 or deficient items and a description of how the application may be remedied by the applicant. Notice of the denial and corresponding comments must be provided to the applicant within the 60-day time period established by Subsection F.3.c of this Section.
e. An applicant may appeal the city’s denial of the application by submitting a written appeal to the city clerk. The planning commission will review the written appeal and affirm or reverse the denial and provide a final written determination to the applicant within 60 business days after receipt of the appeal.
f. A demolition permit for a detached garage that is to be replaced with an ADU shall be reviewed with the application for the ADU and issued at the same time.
G. General Development Requirements. The following requirements apply to all Class 1 and Class 2 ADUs and JADUs:
1. Zoning.
a. A Class 1 ADU approved under Subsection F.1 of this Section may be created on any lot in a residential or mixed-use zoning district. b. A Class 2 ADU approved under Subsection F.2 of this Section may be created on any lot in a zoning district that allows single-family residential uses or multi-family residential uses.
c. In accordance with Government code section 66333(a), a JADU may only be created on a lot zoned for single-family residences.
2. Height. All ADUs shall comply with the following height requirements, measured above finished grade to the peak of the structure:
a. Except as otherwise provided by Subparagraphs G.2.b and G.2.c of this Section, a detached ADU created on a lot with an existing or proposed single-family or multi-family dwelling unit may not exceed 16 feet in height.
b. A detached ADU may be up to 18 feet in height if it is created on a lot with an existing or proposed single-family or multi-family dwelling unit that is located within one-half mile walking distance of a major transit stop or a high-quality transit corridor, as defined in Section 21155 of the California Public Resources Code. The ADU may be up to two additional feet in height (for a maximum of 20 feet) if necessary to accommodate a roof pitch on the ADU that is aligned with the roof pitch of the primary dwelling unit.
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City Council Meeting Agenda - Page 47 of 159 - Monday, April 20, 2026 c. A detached ADU created on a lot with an existing or proposed multi-family dwelling that has more than one story above finished grade may not exceed 18 feet in height.
d. An ADU that is attached to the primary dwelling may not exceed 25 feet in height or the height limitation imposed by the underlying zoning district that applies to the primary dwelling, whichever is lower. This requirement shall not require the City to allow an ADU to exceed two stories.
3. Fire sprinklers.
a. Fire sprinklers are required in an ADU if sprinklers are required in the primary residence.
b. The construction of an ADU does not trigger a requirement for fire sprinklers to be installed in the existing primary dwelling.
4. Rental Term. An ADU or JADU may be rented separate from the primary residence for a rental term of 30 days or longer.
5. Separate Conveyance. An ADU or JADU shall not be sold or otherwise conveyed separately from the primary residence (in the case of a single-family lot) or from the lot and all of the dwellings (in the case of a multifamily lot), except as allowed under Government Code Section 66341.
6. Septic System. If the ADU or JADU will connect to an on-site water-treatment system, the owner must include with the application a percolation test completed within the last five years or, if the percolation test has been recertified, within the last 10 years.
7. Owner Occupancy.
a. ADUs are not subject to owner-occupancy requirements. b. JADUs are subject to an owner-occupancy requirement. A natural person with legal or equitable title to the property must reside on the property, in either the primary dwelling or JADU, as the person’s legal domicile and permanent residence. However, the owner-occupancy requirement does not apply if the JADU has separate sanitation facilities (i.e., does not share sanitation facilities with the existing primary dwelling unit structure), or the property is entirely owned by another governmental agency, land trust, or housing organization.
8. Deed restriction. Prior to issuance of a Certificate of Occupancy for a JADU, a deed restriction must be recorded against the title of the property in the County Recorder’s Office and a copy filed with the Administrator. The deed restriction Item 9.6
City Council Meeting Agenda - Page 48 of 159 - Monday, April 20, 2026 must run with the land and bind all future owners. The form of the deed restriction will be provided by the City and must provide that:
a. The JADU may not be sold separately from the primary dwelling except as allowed under State law.
b. The JADU is restricted to the approved size and to other attributes allowed by this Section.
c. The deed restriction runs with the land and may be enforced against future property owners.
d. The deed restriction may be removed if the owner eliminates the JADU, as evidenced by, for example, removal of the kitchen facilities. To remove the deed restriction, an owner may make a written request to the Zoning Administrator, providing evidence that the JADU has in fact been eliminated. The Zoning Administrator may then determine whether the evidence supports the claim that the JADU has been eliminated. Appeal may be taken from the Zoning Administrator’s determination consistent with other provisions of this code. If the JADU is not entirely physically removed but is only eliminated by virtue of having a necessary component of a JADU removed, the remaining structure and improvements must otherwise comply with applicable provisions of this Municipal Code. e. The deed restriction is enforceable by the Zoning Administrator or their designee for the benefit of the City. Failure of the property owner to comply with the deed restriction may result in legal action against the property owner, and the City is authorized to obtain any remedy available to it at law or equity, including, but not limited to, obtaining an injunction enjoining the use of the JADU in violation of the recorded restrictions or abatement of the illegal unit.
9. Income reporting. In order to facilitate the City’s obligation to identify adequate sites for housing in accordance with Chapter 13 of Division 1 of Title 7 of California Government Code, each building permit application must include an estimate of the projected annualized rent that will be charged for the ADU or JADU.
10. Building and Safety.
a. Building Code. Subject to Subsection F.10.b of this Section, all ADUs and JADUs must comply with all local building code requirements. b. No Change of Occupancy. Construction of an ADU does not constitute a Group R occupancy change under the local building code, as described in Section 310 of the California Building Code, unless the Building Official or a Code Enforcement Officer makes a written finding based on substantial Item 9.6
City Council Meeting Agenda - Page 49 of 159 - Monday, April 20, 2026 evidence in the record that the construction of the ADU could have a specific, adverse impact on public health and safety. Nothing in this Subsection G.10.b prevents the City from changing the occupancy code of a space that was uninhabitable space or that was only permitted for nonresidential use and was subsequently converted for residential use in accordance with this Section.
11. Certificate of Occupancy Timing
a. No certificate of occupancy for an ADU or JADU may be issued before the certificate of occupancy is issued for the primary dwelling unit. b. Notwithstanding subsection G.11.a above, a certificate of occupancy for an ADU may be issued before a certificate of occupancy for the primary dwelling if each of the following requirements are met:
i. The county is subject to a proclamation of a state of emergency made by the California Governor on or after February 1, 2025. ii. The primary dwelling was substantially damaged or destroyed by an event referenced in the Governor’s state of emergency
proclamation.
iii. The ADU has been issued construction permits and has passed all required inspections.
iv. The ADU is not attached to the primary dwelling.
H. Specific ADU Requirements. The following requirements apply only to ADUs that require an ADU Permit under Paragraph F.2 of this Section. No application of any requirements in this Subsection shall prevent the construction of an attached or detached ADU of at least 800 square feet with four-foot side and rear setbacks.
1. Maximum Unit Size.
a. The maximum size of a detached or attached ADU subject to this Subsection is 1,200 square feet.
b. An attached ADU that is created on a lot with an existing primary dwelling is further limited to 50 percent of the floor area of the existing primary dwelling.
2. Setbacks. ADUs subject to this Subsection shall comply with the following setbacks. Setbacks are measured from property lines or vehicular easements, whichever is applicable.
a. Attached and Detached ADUs.
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City Council Meeting Agenda - Page 50 of 159 - Monday, April 20, 2026 i. Front Setbacks. Front setback requirements shall comply with the following:
(1) Single-Family Residential Zoning District R-20: 25 feet. (2) Single-Family Residential Zoning Districts R-15, R-10, R10A, and Single-Family PUDs/PPDs: 20 feet. (3) Single-Family Residential Zoning Districts R-6 and R-7: 15 feet.
(4) Mangini-Delu Residential Zoning District RMD: 15 feet. (5) Multiple-Family Residential Zoning Districts MFM, MFH, MFVH: 10 feet;
(6) Multiple-Family Residential Zoning Districts PUD/PPD, MFL, MFVL: 15 feet.
(7) Mixed-Use Zoning Districts MX-N and MX: 15 feet.
(8) Mixed-Use Zoning District MX-HD: 10 feet.
(9) Mixed Use Zoning District MX-VHD: 5 feet.
ii. Side and Rear Setbacks. The side and rear setbacks for all ADUs shall be a minimum of four feet.
iii. If the ADU is constructed in the same location and to the same dimensions as an existing structure, no additional setbacks are required.
3. Floor Area Ratio (FAR). No ADU subject to this Subsection shall cause the total FAR of the lot to exceed that of the underlying zoning district.
4. Lot coverage. No ADU subject to this Subsection, shall cause the total lot coverage to exceed the maximum lot coverage requirements of the underlying zoning district as follows:
a. Single-Family Residential Zoning Districts R-20 and, R-15: 25 percent maximum lot coverage.
b. Single-Family Residential Zoning Districts R-10: 30 percent maximum lot coverage.
c. Single-Family Residential Zoning Districts PUD/PPD, R-10A, R-7, R-6 and Single-Family PUD/PPDs: 35 percent maximum lot coverage. d. Mangini-Delu Residential Zoning District RMD: 70 percent maximum lot coverage.
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City Council Meeting Agenda - Page 51 of 159 - Monday, April 20, 2026 e. Multiple-Family Residential Zoning Districts PUD/PPD, MFRVL, and MFRL: 40 percent maximum lot coverage.
f. Multiple-Family Residential Zoning District MFM: 50 percent maximum lot coverage.
g. Multiple-Family Residential Zoning District MFH: 60 percent maximum lot coverage.
h. Multiple-Family Residential Zoning District MFVH: 70 percent maximum lot coverage.
i. Mixed-Use Zoning Districts MX-N, MX, MX-HD, MX-VHD: There is no lot coverage or FAR maximum established for residential uses in mixed-use zoning districts.
5. Open Space. No ADU may cause the site to be less than the following open space provisions for multi-family and mixed-use zoning districts:
a. Total usable open space on a site having three or more dwelling units shall be at least 200 square feet per dwelling unit. This requirement shall be met by providing private open space, shared open space, or a combination of the two.
b. Private Open Space. To satisfy the open space requirement, private open space must be on a patio or balcony, within which a horizontal rectangle has no dimension less than six feet.
c. Shared Open Space. To satisfy the open space requirement, shared open space must be provided by interior side yards, patios and terraces, each designed so that no dimension is less than 10 feet. The open space must be open to the sky and may not include driveways or parking areas or area required for front or corner side yards.
6. Landscaping. No ADU(s) shall cause the total landscaping of the lot to be less than that required in the underlying zoning district as follows:
a. Single-Family Residential Zoning Districts (including PUD and PPD single-family residential): Minimum of 50 percent of the front yard setback area is to be landscaped.
b. Mangini-Delu Residential Zoning District RMD: At least 35 percent of the site shall be landscaped.
c. Multi-Family Residential Zoning Districts.
i. Multi-Family Residential Zoning Districts MFVL and MFL: At least 35 percent of the site shall be landscaped.
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City Council Meeting Agenda - Page 52 of 159 - Monday, April 20, 2026 ii. Multi-Family Residential Zoning District MFM: At least 30 percent of the site shall be landscaped.
iii. Multi-Family Residential Zoning Districts PUD/PPD and MFH: At least 25 percent of the site shall be landscaped.
iv. Multi-Family residential zoning district MFVH: At least 15 percent of the site shall be landscaped.
d. Mixed-Use Zoning Districts.
i. Mixed-Use Zoning District MX-N: At least 25 percent of the site shall be landscaped.
ii. Mixed-Use Zoning Districts MX, MX-HD, and MX-VHD: At least 15 percent of the site shall be landscaped.
7. Passageway. No passageway, as defined by Subsection D.9 of this Section, is required for an ADU.
8. Parking.
a. General Requirements. One off-street parking space is required for each ADU. The parking space may be provided in setback areas or as tandem parking. The size of the off-street parking necessary for the ADU shall be eight and one-half feet wide by 19 feet deep (if enclosed the space shall be 10 feet wide by 22 feet deep, with a nine-foot-wide door opening) with a 10-foot-wide paved vehicular access from/to the public right-of-way and shall be surfaced with concrete or two inches of asphalt concrete over six inches of aggregate base.
b. Exceptions. Off-street parking for ADUs is not required in the following situations:
i. The ADU is located within one-half mile walking distance of public transit, as defined in Paragraph D.11 of this Section.
ii. The ADU is located within an architecturally and historically significant historic district.
iii. The ADU is located fully within the proposed or existing primary residence or an existing accessory structure.
iv. When on-street parking permits are required but not offered to the occupant of the ADU.
v. When there is an established car share vehicle stop located within one block of the ADU.
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City Council Meeting Agenda - Page 53 of 159 - Monday, April 20, 2026 vi. When the permit application to create an ADU is submitted with an application to create a new single-family or multi-family dwelling on the same lot; provided, that the ADU or the lot satisfies any other criteria listed in Subsections H.8.b.i through H.8.b.v of this Section. c. No Replacement. When a garage, carport, or covered parking structure is demolished in conjunction with the construction of an ADU or converted to an ADU, those off-street parking spaces are not required to be replaced.
9. Architectural Requirements.
a. The materials and colors of the exterior walls, roof, windows, and doors must match the appearance and architectural design of those of the primary dwelling.
b. The exterior lighting must be limited to down-lights or as otherwise required by the building or fire code.
c. The ADU must have an independent exterior entrance, apart from that of the primary dwelling. The ADU entrance shall not be on the same side of the primary dwelling entrance, unless this entrance is screened from public views.
d. The roof slope must match that of the dominant roof slope of the primary dwelling. The dominant roof slope is the slope shared by the largest portion of the roof.
10. Screening. A ground-level ADU shall provide privacy between the ADU and adjacent parcels with a solid fence at least six feet in height.
11. Historical Protections. The following requirements apply to ADUs on or within 600 feet of real property that is listed in the California Register of Historic Resources:
the architectural treatment of an ADU to be constructed on a lot that has an identified historical resource listed on the federal, state, or local register of historic places must be located so as to not be visible from any public right-of-way.
I. Fees.
1. Impact fees.
a. No impact fee is required for an ADU that is less than 750 square feet in size.
b. A JADU or ADU with less than 500 square feet of interior livable space does not increase assessable space by 500 square feet for purposes of Education Code section 17620(a)(1)(C) and is therefore not subject to school fees under Education Code section 17620.
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City Council Meeting Agenda - Page 54 of 159 - Monday, April 20, 2026 c. Any impact fee that is required for an ADU that is 750 square feet or larger in size must be charged proportionately in relation to the square footage of the primary dwelling unit (e.g., the floor area of the primary dwelling, divided by the floor area of the ADU, times the typical fee amount charged for a new dwelling). Impact fee here does not include any connection fee or capacity charge for water or sewer service.
2. Waiving of Fees. The City shall waive fees for ADUs in the following manner:
a. Building and planning permit fees shall be waived if the ADU is deedrestricted for 55 years at the low-income affordable level. b. Building, planning, and traffic mitigation fees shall be waived if the ADU is deed-restricted for 55 years at the very low-income affordable level.
J. Nonconforming Zoning Conditions, Building Code Violations, and Unpermitted Structures.
1. General Requirements. The City will not deny an ADU or JADU application due to a nonconforming zoning condition, building code violation, or unpermitted structure on the lot that does not present a threat to the public health and safety and that is not affected by the construction of the ADU or JADU.
2. Unpermitted ADUs and JADUs Constructed Before 2018.
a. Permit to Legalize. As required by State law, the City may not deny a permit to legalize an existing but unpermitted ADU or JADU that was constructed before January 1, 2018, if denial is based on either of the following grounds:
i. The ADU or JADU violates applicable building standards; or ii. The ADU or JADU does not comply with State ADU or JADU law (Chapter 13 of Division 1 of Title 7 of the California Government Code) or the standards of this Section.
b. Exceptions.
i. Notwithstanding Subparagraph J.2.a of this Section, the City may deny a permit to legalize an existing but unpermitted ADU or JADU that was constructed before January 1, 2018, if the City makes a finding that correcting a violation is necessary to comply with the standards specified in California Health and Safety Code section 17920.3.
ii. Subparagraph J.2.a of this Section does not apply to a building that is deemed to be substandard in accordance with California Health and Safety Code Section 17920.3.
Item 9.6
City Council Meeting Agenda - Page 55 of 159 - Monday, April 20, 2026 K. Nonconforming ADUs and Discretionary Approval. Any proposed ADU or JADU that does not conform to the objective standards established in this Section may be allowed by the City with a Use Permit, in accordance with the other provisions of this Title.
SECTION 4. If any section, subsection, sentence, clause, or phrase of this Ordinance is for any reason held to be invalid or unconstitutional by a decision of any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this Ordinance.
The City Council hereby declares that it would have passed this Ordinance and each and every section, subsection, sentence, clause or phrase not declared invalid or unconstitutional without regard to whether any portion of the Ordinance would be subsequently declared invalid or unconstitutional.
SECTION 5. The City Council finds the adoption of this ordinance to be statutorily exempt from the requirements of the California Environmental Quality Act (“CEQA”) pursuant to Section 21080.17 of the Public Resources Code because it is an ordinance regarding accessory dwelling units in single-family and multifamily residential zones to implement the provisions of Government Code Section 65852.2.
SECTION 6. This ordinance shall be effective 30 days after its adoption.
SECTION 7. Within fifteen (15) days after the final passage and adoption of this ordinance, the City Clerk shall cause it to be posted in the three public places designated by resolution of the City Council.
SECTION 8. Filing. The City Clerk shall submit a copy of this ordinance to the Department of Housing and Community Development within 60 days after adoption.
Item 9.6
City Council Meeting Agenda - Page 56 of 159 - Monday, April 20, 2026 The foregoing ordinance was introduced at a regular meeting of the City Council of the City of Pleasant Hill, held on the 6th day of April, 2026.
ADOPTED and ordered posted at a meeting of the City Council of the City of Pleasant Hill, held on the 20th day of April 2026, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
___________________________________
ZAC SCHESS, Mayor
ATTEST:
____________________________
LYONE P. CONNER, City Clerk
Item 9.6
City Council Meeting Agenda - Page 57 of 159 - Monday, April 20, 2026
CITY COUNCIL STAFF REPORT
Meeting Date: April 20, 2026
100 Gregory Lane, Pleasant Hill, CA 94523-3323 – (925) 671-5270 www.pleasanthillca.org
TO: THE HONORABLE MAYOR AND CITY COUNCILMEMBERS
SUBJECT: ADOPT RESOLUTION NO.___-26 APPROVING THE CITY OF PLEASANT HILL INVESTMENT POLICY EFFECTIVE JULY 1, 2026
SYNOPSIS
California state law requires the City to render a statement of Investment Policy annually to the City Council at a public meeting and the City Council to annually delegate investment authority to the Chief Financial Officer/City Treasurer. The Budget Committee reviewed the investment policy at its meeting of March 11, 2026, and recommended approval to City Council. The City Treasurer duties have been assigned to the Chief Financial Officer (CFO) by the City Manager in December 2024. Staff recommends the Council adopt the proposed resolution approving the updates to the City of Pleasant Hill Investment Policy effective July 1, 2026.
DISCUSSION
Background
Government Code 53607 et seq. requires the Chief Financial Officer/City Treasurer to “render” annually to the legislative body of the local agency at a public meeting a statement of investment policy. The investment policy is intended as a guide with specific controls for safety, liquidity, and yields. The City Manager has assigned the duties of the City Treasurer to the Chief Financial Officer as of December 2024.
Analysis
The City’s Investment Portfolio is managed by Chandler Asset Management (Chandler). Carlos Oblites, Chandler's Senior Portfolio and Investment Pool Strategist, discussed the investment performance of the portfolio and share some insights about the markets and current trends (Chandler’s Presentation attached) at the Budget Committee meeting on March 11, 2026. As of January 31, 2026, the City’s portfolio has a one-year total rate of return of 5.46% compared to the benchmark ICE BofA 1-3 Year US Treasury Index of 5.09%. The balance in the portfolio was $8,404,261.
City staff in the Finance Division consulted with Chandler and propose for your consideration minimal changes to the City’s investment policy that capture changes to California Government Code for 2026. These updates include:
Item 9.7
City Council Meeting Agenda - Page 58 of 159 - Monday, April 20, 2026 2 Addition of language pursuant to SB 595 permitting investment in commercial paper with maturities up to 397 days.
Addition of language permitting investments in deposit placement services, giving the City more options in placing certificates of deposit.
Inclusion of language permitting investments in mutual funds as permitted by California Government Code 53600.
Addition of requirement which states that monthly transactions will be submitted to the City Council as required by California Government Code 53607.
On March 11, 2026, the Budget Committee reviewed and recommended the City Council approve the updates to the City’s Investment Policy.
FISCAL IMPACT
No fiscal impact.
PUBLIC CONTACT
Public contact was made through posting of the City Council agenda on the City’s official notice bulletin board, at the Pleasant Hill Senior Center and at the Pleasant Hill Police Department. The agenda and staff report are posted on the City’s web page.
RECOMMENDED CITY COUNCIL ACTION:
Receive the December 2025 Treasurer’s Report and adopt the proposed resolution to update the City of Pleasant Hill’s Investment Policy effective July 1, 2026, as recommended by the Budget Committee.
ALTERNATIVES TO RECOMMENDED ACTION
Do not adopt the proposed resolution and provide direction to staff.
ATTACHMENT(S):
Proposed Resolution
Investment Policy FY 2026-2027 Redlined
December 2025 Treasurer’s Report
Chandler Presentation
Prepared by: Erick Cheung, Chief Financial Officer
Approved by: Ethan Bindernagel, City Manager
Item 9.7
City Council Meeting Agenda - Page 59 of 159 - Monday, April 20, 2026 RESOLUTION NO.___-26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANT HILL
APPROVING THE CITY OF PLEASANT HILL INVESTMENT POLICY EFFECTIVE JULY 1, 2026
WHEREAS, California state law requires the City Treasurer to render a statement of Investment Policy annually to the City Council at a public meeting; and WHEREAS, California state law requires the City Council to annually delegate investment authority to the City Treasurer.
WHEREAS, the City Council of the City of Pleasant Hill, delegates investment authority to the Chief Financial Officer serving as City Treasurer of the City of Pleasant Hill.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Pleasant Hill, approves the City of Pleasant Hill Investment Policy (attached) effective July 1, 2026.
ADOPTED by the City Council of the City of Pleasant Hill at a regular meeting held on the 20th day of April, 2026, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
__________________________________
ZAC SHESS, Mayor
ATTEST:
LYONE P. CONNER, City Clerk
Item 9.7
City Council Meeting Agenda - Page 60 of 159 - Monday, April 20, 2026 1 CITY OF PLEASANT HILL
INVESTMENT POLICY
Effective July 1, 20252026
INTRODUCTION
The investment policy of the City of Pleasant Hill is based upon State of California Government Code (CGC), 53600 et seq. The primary goals of this policy are:
1. To ensure compliance with all State and Local laws governing the investment of monies in the custody of the Chief Financial Officer.
2. To protect the principal monies entrusted to the Chief Financial Officer.
3. To meet the daily cash flow demands of the City.
4. To generate the maximum amount of investment income within the parameters of prudent risk management.
The monies entrusted to the Chief Financial Officer constitute the "Investment Portfolio" referred to in this document.
DELEGATION OF AUTHORITY
In the City of Pleasant Hill, management responsibility for investments is herewith delegated to the Chief Financial Officer as the City Treasurer pursuant to CGC, Sections 41006 (for the City Treasurer) and 53607 et seq. The Chief Financial Officer shall establish procedures for the operation of an investment program consistent with this investment policy and shall perform investment transactions. The Chief Financial Officer may retain the services of an external investment advisor, registered under the Investment Advisers Act of 1940. These procedures will include reference to safekeeping, wire transfer agreements, banking service contracts and collateral/depository agreements. The Chief Financial Officer shall be responsible for all transactions undertaken.
The City Manager shall appoint a Deputy City Treasurer who shall perform the Chief Financial Officer's duties in the absence of the Chief Financial Officer.
SCOPE
The Chief Financial Officer is responsible for investing the unexpended cash in the City Treasury. This investment policy applies to the investment activities of the City of Pleasant Hill. The invested assets of the City, with the following three exceptions, shall be administered in accordance with the provisions of this policy and CGC Sections 53600 et seq. The exceptions are the Public Employees Retirement System and Deferred Compensation Funds, which are administered separately by trustees, and Bond proceeds Item 9.7
City Council Meeting Agenda - Page 61 of 159 - Monday, April 20, 2026 2 which are invested according to the specifications of the bond indenture.
OBJECTIVES
Objectives have been set in order to achieve the goals of this investment policy. The primary objectives, in priority order, of the City of Pleasant Hill's investment policy are:
A. Safety of Principal
Safety of principal is the foremost objective of the City of Pleasant Hill. With each investment transaction the Chief Financial Officer shall seek to ensure that capital losses are avoided, whether these losses are from securities default, broker-dealer default, or erosion of market value. The City shall seek to preserve principle by mitigating the two types of risk: credit risk and market risk.
Further guidelines for safety of principal shall include:
1. Limiting the Portfolio's exposure to each issue and each issuer of debt.
2. Determining minimum credit requirements for firms that hold City monies.
B. Liquidity
The City of Pleasant Hill's investment portfolio will remain sufficiently liquid to enable the City to meet all operating requirements, which might be reasonably anticipated.
C. Return on Investment
Return on investment shall be an average market rate of return governed by the objectives of safety and liquidity in accordance with prudent investment principles.
MATURITIES
Maturities shall be selected to anticipate cash needs, thereby eliminating the possibility of the need for forced investment liquidation. Cash flow estimates shall be prepared in a prudent manner.
The City will not invest in securities maturing more than five (5) years from the date of trade settlement, unless the City Council has granted authority to make such an investment.
QUALIFIED DEALERS
To the extent practicable, the Chief Financial Officer shall endeavor to complete investment transactions using a competitive bid process whenever possible. The City's Chief Financial Officer will determine which financial institutions are authorized to provide investment services to the City. It shall be the City's policy to purchase securities only from authorized institutions and firms.
Item 9.7
City Council Meeting Agenda - Page 62 of 159 - Monday, April 20, 2026 3 The Chief Financial Officer shall maintain procedures for establishing a list of authorized broker/dealers and financial institutions which are approved for investment purposes that are selected through a process of due diligence as determined by the City. Due inquiry shall determine whether such authorized broker/dealers, and the individuals covering the City are reputable and trustworthy, knowledgeable and experienced in Public Agency investing and able to meet all of their financial obligations. These institutions may include "primary" dealers or regional dealers that qualify under Securities and Exchange Commission (SEC) Rule 15c3-1 (uniform net capital rule).
In accordance with Section 53601.5, institutions eligible to transact investment business with the City include:
• Institutions licensed by the state and proof of FINRA certification as a brokerdealer, as defined in Section 25004 of the Corporations Code. • Institutions that are members of a federally regulated securities exchange. • Primary government dealers as designated by the Federal Reserve Bank and non-primary government dealers.
• Nationally or state-chartered banks.
• Savings or federal association (as defined in Section 5102 of the Financial Code).
• The Federal Reserve Bank.
• Direct issuers of securities eligible for purchase.
Selection of financial institutions and broker/dealers authorized to engage in transactions will be at the sole discretion of the City, except where the City utilizes an external investment adviser in which case the City may rely on the adviser for selection.
All financial institutions and securities dealers who desire to engage in investment transactions with the City of Pleasant Hill shall certify that the supervising officer has reviewed the City's investment policy and agrees to disclose potential conflicts or risks to public funds that might arise out of business transactions between the firm/depository and the City of Pleasant Hill. Employees of any financial institution offering securities or investments to the City of Pleasant Hill shall be trained in the precautions appropriate to public sector investments and shall be required to familiarize themselves with the City's Investment Policy.
The City shall at least annually send a copy of the current investment policy to all dealers approved to do business with the City. Confirmation of receipt of this policy shall be considered evidence that the dealer understands the City's investment policies and intends to offer the City only appropriate investments.
Public deposits will be made only in qualified public depositories as established by State law. Deposits will be insured by the Federal Deposit Insurance Corporation, or, to the extent the amount exceeds the insured maximum, will be collateralized in accordance with State law.
Item 9.7
City Council Meeting Agenda - Page 63 of 159 - Monday, April 20, 2026 4 Selection of broker/dealers used by an external investment adviser retained by the City will be at the sole discretion of the adviser. Where possible, transactions with broker/dealers shall be selected on a competitive basis and their bid or offering prices shall be recorded. If there is no other readily available competitive offering, best efforts will be made to document quotations for comparable or alternative securities. When purchasing original issue instrumentality securities, no competitive offerings will be required as all dealers in the selling group offer those securities at the same original issue price.
DELIVERY, SAFEKEEPING OF SECURITIES, AND CUSTODY
To protect against potential losses by collapse of individual securities dealers, all securities owned by the City (including collateral on repurchase agreements), shall be held in the City's name in safekeeping by a third-party custodian. Said trust department shall act as agent for the City of Pleasant Hill pursuant to a custody agreement between the bank and the City. All securities shall be received and delivered using standard delivery-versus-payment procedures. The Custodian shall provide safekeeping receipts of all securities held. A monthly report will be received by the City from the custodian listing all securities held in safekeeping with current market data and other information.
The only exceptions to the foregoing shall be depository accounts and securities purchases made with: (i) local government investment pools; (ii) time certificates of deposit, and (iii) money market mutual funds, since these securities are not deliverable.
COLLATERALIZATION
Certificates of Deposit: The City shall require any commercial bank or savings and loan association to deposit eligible securities with an agency of a depository approved by the State Banking Department to secure any uninsured portion of a Non-Negotiable Certificate of Deposit. The value of eligible securities as defined pursuant to California Government Code, Section 53651, pledged against a Certificate of Deposit shall be equal to 150% of the face value of the CD if the securities are classified as mortgages and 110% of the face value of the CD for all other classes of security.
Collateralization of Bank Deposits: This is the process by which a bank or financial institution pledges securities, or other deposits for the purpose of securing repayment of deposited funds. The City shall require any bank or financial institution to comply with the collateralization criteria defined in California Government Code, Section 53651.
Repurchase Agreements: The City requires that Repurchase Agreements be collateralized only by securities authorized in accordance with California Government Code:
• The securities which collateralize the repurchase agreement shall be priced at Market Value, including any Accrued Interest plus a margin. The Market Value of the securities that underlie a repurchase agreement shall be valued at 102% or greater of the funds borrowed against those securities. • Financial institutions shall mark the value of the collateral to market at least monthly and increase or decrease the collateral to satisfy the ratio requirement described above.
Item 9.7
City Council Meeting Agenda - Page 64 of 159 - Monday, April 20, 2026 5 • The City shall receive monthly statements of collateral.
ETHICS AND CONFLICTS OF INTEREST
The Investment Officers, i.e., the Chief Financial Officer and the Deputy City Treasurer, shall be governed by the "Code of Ethics" and the "Code of Professional Conduct" of the California Municipal Treasurers Association. The Investment Officers shall refrain from personal business activity that could conflict with proper execution of the investment program, or which would impair their ability to make impartial investment decisions.
All participants in the investment process are required to comply with terms of the Political Reform Act, Fair Political Practices Commission Regulations promulgated thereunder (2 C.C.R. §§ 18110 through 18998), the City's Conflict of Interest Policy, including, without limitation, filing of Form 700, notification, and recusal obligations, and CGC section 1090 prohibitions.
INTERNAL CONTROLS
The Chief Financial Officer is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the entity are protected from loss, theft or misuse. The internal control structure shall be designed to provide reasonable assurance that these objectives are met. The concept of reasonable assurance recognizes that (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management.
PRUDENCE
Pursuant to CGC, Section 53600.3, all persons authorized to make investment decisions on behalf of the City are trustees and therefore fiduciaries subject to the "prudent investor standard", which states:
"... all governing bodies of local agencies or persons authorized to make investment decisions on behalf of those local agencies investing public funds pursuant to this chapter are trustees and therefore fiduciaries subject to the prudent investor standard. When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the Agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the Agency. Within the limitations of this section and considering individual investments as part of an overall strategy, investments may be acquired as authorized by law." Officers acting in accordance with written procedures and the investment policy and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are Item 9.7
City Council Meeting Agenda - Page 65 of 159 - Monday, April 20, 2026 6 reported in a timely fashion and appropriate action is taken to control adverse developments.
AUTHORIZED INVESTMENTS
The City is governed by California Government Code, Sections 53600 et. seq. Within the context of these limitations, the City seeks to further restrict eligible investments to the guidelines listed below. In the event a discrepancy is found between this policy and the Code, the more restrictive parameters will take precedence. Percentage holding limits and minimum credit quality requirements listed in this section apply at the time the security is purchased. Any investment currently held at the time the policy is adopted which does not meet the new policy guidelines can be held until maturity and shall be exempt from the current policy. At the time of the investment's maturity or liquidation, such funds shall be reinvested only as provided in the current policy.
An appropriate risk level shall be maintained by primarily purchasing securities that are of high quality, liquid, and marketable. The portfolio shall be diversified by security type and institution to avoid incurring unreasonable and avoidable risks regarding specific security types or individual issuers.
The following investments are authorized:
1. United States Treasury Bills, Bonds, Notes, and other government obligations for which the full faith and credit of the United States are pledged for the payment of principal and interest. There are no limits on the dollar amount or percentage that the City may invest in U.S. Treasuries, provided that the maximum maturity does not exceed five (5) years.
2. Obligations issued by Federal Agencies or United States Government-Sponsored Enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government-sponsored enterprises. There are no limits on the dollar amount or percentage that the Agency may invest in Federal Agency or Government-Sponsored Enterprises (GSEs), provided that:
a) No more than 30% of the total portfolio may be invested in any single Agency/GSE issuer.
b) The maximum maturity does not exceed five (5) years. c) No more than 20% of the total portfolio may be invested in callable agency securities.
3. Municipal securities, including obligations of the City, the State of California, and any local agency within the State of California, provided that:
a) The securities are rated in a rating category of "A" or its equivalent or better by at least one Nationally Recognized Statistical Rating Organization ("NRSRO").
b) No more than 5% of the total portfolio may be invested in any single issuer.
Item 9.7
City Council Meeting Agenda - Page 66 of 159 - Monday, April 20, 2026 7 c) No more than 30% of the total portfolio may be in Municipal Securities. d) The maximum maturity does not exceed five (5) years.
4. Municipal securities (Registered Treasury Notes or Bonds) of any of the other 49 states in addition to California, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a state or by a department, board, agency, or authority of any of the other 49 states, in addition to California:
a) The securities are rated in a rating category of "A" or its equivalent or better by at least one NRSRO.
b) No more than 5% of the total portfolio may be invested in any single issuer. c) No more than 30% of the total portfolio may be in Municipal Securities. d) The maximum maturity does not exceed five (5) years.
5. Banker's Acceptances, provided that:
a) They are issued by institutions which have short-term debt obligations rated "A-1" or its equivalent or better by at least one NRSRO; or long-term debt obligations which are rated in a rating category of "A" or its equivalent or better by at least one NRSRO.
b) No more than 40% of the total portfolio may be invested in Banker's Acceptances.
c) No more than 5% of the total portfolio may be invested in any single issuer. d) The maximum maturity does not exceed 180 days.
6. Commercial Paper, provided that the securities are issued by an entity that meets all of the following conditions in either paragraph (a) or (b) and other requirements specified below:
a) Securities issued by corporations:
o A corporation organized and operating in the United States with assets more than $500 million.
o The securities are rated "A-1" or its equivalent or better by at least one NRSRO.
o If the issuer has other debt obligations, they must be rated in a rating category of "A" or its equivalent or better by at least one NRSRO. b) Securities issued by other entities:
o The issuer is organized within the United States as a special purpose corporation, trust, or limited liability company.
o The securities must have program-wide credit enhancements including, but not limited to, overcollateralization, letters of credit, or a surety bond.
o The securities are rated "A-1" or its equivalent or better by at least one NRSRO.
Item 9.7
City Council Meeting Agenda - Page 67 of 159 - Monday, April 20, 2026 8 • No more than 10% of the outstanding commercial paper of any single issuer.
• No more than 25% of the City's investment assets under management may be invested in Commercial Paper.
• No more than 5% of the total portfolio may be invested in any single issuer. • The maximum maturity does not exceed 270397 days.
7. Negotiable Certificates of Deposit (NCDs), issued by a nationally or statechartered bank, a savings association, or a federal association, a state or federal credit union, or by a federally licensed or state-licensed branch of a foreign bank, provided that:
a) The amount of the NCO insured up to the FDIC limit does not require any credit ratings.
b) Any amount above the FDIC insured limit must be issued by institutions which have short-term debt obligations rated "A-1" or its equivalent or better by at least one NRSRO; or long-term obligations rated in a rating category of "A" or its equivalent or better by at least one NRSRO. c) No more than 30% of the total portfolio may be invested in NCDs. d) No more than 5% of the total portfolio may be invested in any single issuer. e) The maximum maturity does not exceed five (5) years.
8. Federally Insured Time Deposits (Non-Negotiable Certificates of Deposit) in state or federally chartered banks, savings and loans, or credit unions, provided that:
a) The amount per institution is limited to the maximum covered under federal insurance.
b) No more than 20% of the total portfolio will be invested in a combination of federally insured and collateralized time deposits.
c) The maximum maturity does not exceed five (5) years.
9. Collateralized Time Deposits (Non-Negotiable Certificates of Deposit) in state or federally chartered banks, savings and loans, or credit unions in excess of insured amounts which are fully collateralized with securities in accordance with California law, provided that:
a) No more than 20% of the total portfolio will be invested in a combination of federally insured and collateralized time deposits.
b) The maximum maturity does not exceed five (5) years.
10. Placement Service Deposits, provided that:
a) No more than 30% of the total portfolio may be invested in a combination of qualifying placement service deposits.
b) The full amount of each deposit along with accrued interest must at all time be insured by the Federal Deposit Insurance Coporation (FDIC) or the National Item 9.7
City Council Meeting Agenda - Page 68 of 159 - Monday, April 20, 2026 9 Credit Union Administration (NCUA).
c) Under a provision sunsetting on January 1, 2031, no more than 50% of the portfolio may be invested in deposits through a placement service, including Certificates of Deposit, if the Agency is a city, district or local agency that does not pool money with other local agencies.
d) The maximum maturity does not exceed five (5) years.
10.11. Collateralized Bank Deposits. City's deposits with financial institutions will be collateralized with pledged securities per CGC, Section 53651. There are no limits on the dollar amount or percentage that the City may invest in collateralized bank deposits.
11.12. Repurchase Agreements collateralized with securities authorized under CGC, maintained at a level of at least 102% of the market value of the Repurchase Agreement. There are no limits on the dollar amount or percentage that the City may invest, provided that:
a) Securities used as collateral for Repurchase Agreements will be delivered to an acceptable third-party custodian.
b) Repurchase Agreements are subject to a Master Repurchase Agreement between the City and the provider of the repurchase agreement. The Master Repurchase Agreement will be substantially in the form developed by the Securities Industry and Financial Markets Association (SIFMA). c) The maximum maturity does not exceed one (1) year.
12.13. Medium Term Corporate Notes issued by corporations organized and operating within the United States or by depository institutions licensed by the United States or any state and operating within the United States, provided that:
a) The securities are rated in a rating category of "A" or its equivalent or better by at least one NRSRO.
b) No more than 30% of the total portfolio may be invested in medium term notes.
c) No more than 5% of the total portfolio may be invested in any single issuer. d) The maximum maturity does not exceed five (5) years.
13.14. Mutual Funds and Money Market Mutual Funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940, provided that and issued by diversified management companies and meet either of the following criteria:
a) Mutual Funds that invest in the securities and obligations as authorized under California Government Code, Section 53601 (a) to (k) and (m) to (q) inclusive and that meet either of the following criteria:
o Attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs; or
o Have retained an investment adviser registered or exempt from Item 9.7
City Council Meeting Agenda - Page 69 of 159 - Monday, April 20, 2026 10 registration with the Securities and Exchange Commission with not less than five years’ experience investing in the securities and obligations authorized by California Government Code, Section 53601 and with assets under management in excess of $500 million.
o No more than 10% of the total portfolio may be invested in shares of any one mutual fund.
b) Money Market Mutual Funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 and issued by diversified management companies and meet either of the following criteria:
o Have attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs; or
o Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years' experience managing money market mutual funds with assets under management in excess of $500 million. o No more than 20% of the total portfolio may be invested in the shares of any one Money Market Mutual Fund.
• No more than 20% of the total portfolio may be invested in Mutual Funds and Money Market Mutual Funds combined.
14.15. Local Agency Investment Fund (LAIF) - pool established by the State Treasurer for the benefit of local agencies, up to the maximum amount permitted by LAIF.
15.16. Supranational obligations, provided that:
)a) Issues are US dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development, International Finance Corporation, or Inter-American Development Bank.
a)b) The securities are rated in a rating category of "AA" or its equivalent or better by a NRSRO.
b)c) No more than 30% of the total portfolio may be invested in these securities. c)d) No more than 10% of the total portfolio may be invested in any single issuer.
d)e) The maximum maturity does not exceed five (5) years.
16.17. Asset-Backed, Mortgage-Backed, Mortgage Pass-Through Securities, and Collateralized Mortgage Obligations from issuers not defined in sections 1 and 2 of the Authorized Investments section of this policy, provided that:
)a) The securities are rated in a rating category of "AA" or its equivalent or better by a NRSRO.
a)b) No more than 20% of the total portfolio may be invested in these securities.
b)c) No more than 5% of the total portfolio may be invested in any single Asset- Backed or Commercial Mortgage security issuer.
Item 9.7
City Council Meeting Agenda - Page 70 of 159 - Monday, April 20, 2026 11 c)d) The maximum maturity does not exceed five (5) years.
17.18. Shares of Beneficial Interest Issued by a Joint Powers Authority (JPA), provided that:
a) The JPA is organized pursuant to California Government Code Section 6509.7 and invests in the securities and obligations authorized in subdivisions (a) to (r), inclusive.
b) Each share shall represent an equal proportional interest in the underlying pool of securities owned by the JPA.
c) The JPA has retained an investment advisor who is registered with the SEC (or exempt from registration), has assets under management in excess of $500 million, and has at least five years' experience investing in instruments authorized by Section 53601, subdivisions (a) to (q).
INELIGIBLE INVESTMENTS
• State law notwithstanding, any investments not specifically described herein are prohibited, including, but not limited to futures and options. • In accordance with Government Code, Section 53601.6, investment in inverse floaters, range notes, or mortgage derived interest-only strips is prohibited.
• Investment in any security that could result in a zero-interest accrual if held to maturity is prohibited Under a provision sunsetting on January 1, 202631, securities backed by the U.S. Government that could result in a zero- or negative-interest accrual if held to maturity are permitted. • Trading securities for the sole purpose of speculating on the future direction of interest rates is prohibited.
• Purchasing or selling securities on margin is prohibited. • The use of reverse repurchase agreements, securities lending or any other form of borrowing or leverage is prohibited.
• The purchase of foreign currency denominated securities is prohibited. • The purchase of a security with a forward settlement date exceeding 45 days from the time of the investment is prohibited.
INVESTMENT POOLS/MUTUAL FUNDS
The City shall conduct a thorough investigation of any pool or mutual fund prior to making an investment, and on a continual basis thereafter. The Chief Financial Officer shall seek responses to the following questions from any investment pool or mutual fund in which the City invests:
• A description of eligible investment securities, and a written statement of Item 9.7
City Council Meeting Agenda - Page 71 of 159 - Monday, April 20, 2026 12 investment policy and objectives.
• A description of interest calculations and how it is distributed, and how gains and losses are treated.
• A description of how the securities are safeguarded (including the settlement processes), and how often the securities are priced and the program audited.
• A description of who may invest in the program, how often, and what size deposit and withdrawal are allowed.
• A schedule for receiving statements and portfolio listings. • Are reserves, retained earnings, etc. utilized by the pool/fund? • A fee schedule, and when and how it is assessed.
• Is the pool/fund eligible for bond proceeds and/or will it accept such proceeds?
RISK MANAGEMENT AND DIVERSIFICATION
Mitigating Credit Risk in the Portfolio
Credit risk is the risk that a security or a portfolio will lose some or all its value due to a real or perceived change in the ability of the issuer to repay its debt. The City will mitigate credit risk by adopting the following strategies:
• The diversification requirements included in the "Authorized Investments" section of this policy are designed to mitigate credit risk in the portfolio. • No more than 5% of the total portfolio may be deposited with or invested in securities issued by any single issuer unless otherwise specified in this policy.
• The City may elect to sell a security prior to its maturity and record a capital gain or loss, in order to manage the quality, liquidity or yield of the portfolio in response to market conditions or City's risk preferences. • If a security owned by the City is downgraded to a level below the requirements of this policy, making the security ineligible for additional purchases, the following steps will be taken:
• Any actions taken related to the downgrade by the investment manager will be communicated to the Chief Financial Officer in a timely manner. • If a decision is made to retain the security, the credit situation will be monitored and reported to the City Council.
Mitigating Market Risk in the Portfolio
Market risk is the risk that the portfolio value will fluctuate due to changes in the general level of interest rates. The City recognizes that, over time, longer-term portfolios have the potential to achieve higher returns. On the other hand, longer-term portfolios have higher volatility of return. The City will mitigate market risk by providing adequate liquidity for Item 9.7
City Council Meeting Agenda - Page 72 of 159 - Monday, April 20, 2026 13 short-term cash needs, and by making longer-term investments only with funds that are not needed for current cash flow purposes.
The City further recognizes that certain types of securities, including variable rate securities, securities with principal paydowns prior to maturity, and securities with embedded options, will affect the market risk profile of the portfolio differently in different interest rate environments. The City, therefore, adopts the following strategies to control and mitigate its exposure to market risk:
• The City will maintain a minimum of six months of budgeted operating expenditures in short-term investments to provide sufficient liquidity for expected disbursements.
• The maximum stated final maturity of individual securities in the portfolio will be five (5) years, except as otherwise stated in this policy. • The duration of the portfolio will generally be approximately equal to the duration (typically, plus or minus 20%) of a Market Benchmark, an index selected by the City based on the City's investment objectives, constraints and risk tolerances.
REPORTING
Monthly transaction reports will be submitted by the Chief Financial Officer to the Chief Executive OfficerCity Manager and the legislative body of the City in accordance with California Government Code, Section 53607. According to state law, the Chief Financial Officer shall render an investment report no less than quarterly to the chief executive officerCity Manager and the legislative body of the City within 45 days following quarter end.
REVIEW OF INVESTMENT PORTFOLIO
The Chief Financial Officer shall periodically, but no less than quarterly, review the portfolio to identify investments that do not comply with this investment policy and establish protocols for reporting major and critical incidences of noncompliance to the City Council.
PERFORMANCE EVALUATION
The investment portfolio shall be designed to attain a market-average rate of return throughout budgetary and economic cycles, taking into account the City's risk constraints, the cash flow characteristics of the portfolio, and state and local laws, ordinances or resolutions that restrict investments.
The Chief Financial Officer shall monitor and evaluate the portfolio's performance relative to the chosen market benchmark(s), which will be included in the Treasurer's quarterly report.
The Chief Financial Officer shall select an appropriate, readily available index to use as a market benchmark. Benchmarks may change over time based on changes in market conditions Item 9.7
City Council Meeting Agenda - Page 73 of 159 - Monday, April 20, 2026 14 or cash flow requirements.
POLICY REVIEW
This investment policy shall be reviewed by the City Council at least annually to ensure its consistency with the overall objectives of preservation of principal, liquidity, rate of return, and its relevance to current law and financial and economic trends. Amendments and modifications to the policy shall be accepted by the City Council prior to implementation.
Respectfully submitted,
Erick Cheung
Chief Financial Officer
July 1, 20252026
Item 9.7
City Council Meeting Agenda - Page 74 of 159 - Monday, April 20, 2026 15 Glossary of Investment Terms
Agencies. Shorthand market terminology for any obligation issued by a governmentsponsored entity (GSE), or a federally related institution. Most obligations of GSEs are not guaranteed by the full faith and credit of the US government. Examples are:
FFCB. The Federal Farm Credit Bank System provides credit and liquidity in the agricultural industry. FFCB issues discount notes and bonds.
FHLB. The Federal Home Loan Bank provides credit and liquidity in the housing market. FHLB issues discount notes and bonds.
FHLMC. Like FHLB, the Federal Home Loan Mortgage Corporation provides credit and liquidity in the housing market. FHLMC, also called "FreddieMac" issues discount notes, bonds and mortgage pass-through securities.
FNMA. Like FHLB and FreddieMac, the Federal National Mortgage Association was established to provide credit and liquidity in the housing market. FNMA, also known as "FannieMae," issues discount notes, bonds and mortgage pass-through securities.
GNMA. The Government National Mortgage Association, known as "GinnieMae," issues mortgage pass-through securities, which are guaranteed by the full faith and credit of the US Government.
PEFCO. The Private Export Funding Corporation assists exporters. Obligations of PEFCO are not guaranteed by the full faith and credit of the US government.
TVA. The Tennessee Valley Authority provides flood control and power and promotes development in portions of the Tennessee, Ohio, and Mississippi River valleys.
TVA currently issues discount notes and bonds.
Asset Backed Securities. Securities supported by pools of installment loans or leases or by pools of revolving lines of credit.
Banker's Acceptance. A money market instrument created to facilitate international trade transactions. It is highly liquid and safe because the risk of the trade transaction is transferred to the bank which "accepts" the obligation to pay the investor.
Benchmark. A comparison security or portfolio. A performance benchmark is a partial market index, which reflects the mix of securities allowed under a specific investment policy.
Broker. A broker brings buyers and sellers together for a transaction for which the broker receives a commission. A broker does not sell securities from their own position.
Callable. A callable security gives the issuer the option to call it from the investor prior to its maturity. The main cause of a call is a decline in interest rates. If interest rates decline, the issuer will likely call its current securities and reissue them at a lower rate of interest.
Certificate of Deposit (CD). A time deposit with a specific maturity evidenced by a certificate.
Collateral. Securities or cash pledged by a borrower to secure repayment of a loan or repurchase agreement. Also, securities pledged by a financial institution to secure deposits of public monies.
Collateralized Bank Deposit. A bank deposit that is collateralized at least 100% (principal plus interest to maturity). The deposit is collateralized using assets set aside by the issuer such as Treasury securities or other qualified collateral to secure the deposit in excess of the limit covered by the Federal Deposit Insurance Corporation.
Item 9.7
City Council Meeting Agenda - Page 75 of 159 - Monday, April 20, 2026 16 Collateralized Mortgage Obligations (CMO). Classes of bonds that redistribute the cash flows of mortgage securities (and whole loans) to create securities that have different levels of prepayment risk, as compared to the underlying mortgage securities.
Collateralized Time Deposit. Time deposits that are collateralized at least 100% (principal plus interest to maturity). These instruments are collateralized using assets set aside by the issuer such as Treasury securities or other qualified collateral to secure the deposit in excess of the limit covered by the Federal Deposit Insurance Corporation.
Commercial Paper. The short-term unsecured debt of corporations.
Coupon. The rate of return at which interest is paid on a bond.
Credit Risk. The risk that principal and/or interest on an investment will not be paid in a timely manner due to changes in the condition of the issuer.
Dealer. A dealer acts as a principal in security transactions, selling securities from and buying securities for their own position.
Delivery vs. Payment (DVP). A securities industry procedure whereby payment for a security must be made at the time the security is delivered to the purchaser's agent.
Discount. The difference between the par value of a bond and the cost of the bond, when the cost is below par.Some short-term securities, such as T-bills and banker's acceptances, are known as discount securities.They sell at a discount from par and return the par value to the investor at maturity without additional interest. Other securities, which have fixed coupons, trade at a discount when the coupon rate is lower than the current market rate for securities of that maturity and/or quality.
Diversification. Dividing investment funds among a variety of investments to avoid excessive exposure to any one source of risk.
Duration. The weighted average time to maturity of a bond where the weights are the present values of the future cash flows. Duration measures the price sensitivity of a security to changes interest rates.
Federal Deposit Insurance Corporation (FDIC). The Federal Deposit Insurance Corporation (FDIC) is an independent federal agency insuring deposits in U.S. banks and thrifts in the event of bank failures. The FDIC was created in 1933 to maintain public confidence and encourage stability in the financial system through the promotion of sound banking practices.
Federally Insured Time Deposit. A time deposit is an interest-bearing bank deposit account that has a specified date of maturity, such as a certificate of deposit (CD).
These deposits are limited to funds insured in accordance with FDIC insurance deposit limits.
Fiduciary. A person or organization that acts on behalf of another person(s) or organization that puts their clients' interest ahead of their own as they are bound both legally and ethically to act in the best interests of their clients.
Leverage. Borrowing funds in order to invest in securities that have the potential to pay earnings at a rate higher than the cost of borrowing.
Liquidity. The speed and ease with which an asset can be converted to cash.
Local Agency Investment Fund (LAIF). A voluntary investment fund open to government entities and certain non-profit organizations in California that is managed by the State Treasurer's Office.
Local Government Investment Pool. Investment pools that range from the State Treasurer's Office Local Agency Investment Fund (LAIF) to county pools, to Joint Item 9.7
City Council Meeting Agenda - Page 76 of 159 - Monday, April 20, 2026 17 Powers Authorities (JPAs). These funds are not subject to the same SEC rules applicable to money market mutual funds.
Make Whole Call. A type of call provision on a bond that allows the issuer to pay off the remaining debt early. Unlike a call option, with a make whole call provision, the issuer makes a lump sum payment that equals the net present value (NPV) of future coupon payments that will not be paid because of the call. With this type of call, an investor is compensated, or "made whole."
Margin. The difference between the market value of a security and the loan a broker makes using that security as collateral.
Market Risk. The risk that the value of securities will fluctuate with changes in overall market conditions or interest rates.
Market Value. The price at which a security can be traded.
Maturity. The final date upon which the principal of a security becomes due and payable.
The investment's term or remaining maturity is measured from the settlement date to final maturity.
Medium Term Notes. Unsecured, investment-grade senior debt securities of major corporations which are sold in relatively small amounts on either a continuous or an intermittent basis. MTNs are highly flexible debt instruments that can be structured to respond to market opportunities or to investor preferences.
Modified Duration. The percent change in price for a 100-basis point change in yields.
Modified duration is the best single measure of a portfolio's or security's exposure to market risk.
Money Market. The market in which short-term debt instruments (T-bills, discount notes, commercial paper, and banker's acceptances) are issued and traded.
Money Market Mutual Fund. A mutual fund that invests exclusively in short-term securities. Examples of investments in money market funds are certificates of deposit and U.S. Treasury securities. Money market funds attempt to keep their net asset values at $1 per share.
Mortgage Pass-Through Securities. A securitized participation in the interest and principal cash flows from a specified pool of mortgages. Principal and interest payments made on the mortgages are passed through to the holder of the security.
Municipal Securities. Securities issued by state and local agencies to finance capital and operating expenses.
Mutual Fund. An entity which pools the funds of investors and invests those funds in a set of securities which is specifically defined in the fund's prospectus. Mutual funds can be invested in various types of domestic and/or international stocks, bonds, and money market instruments, as set forth in the individual fund's prospectus. For most large, institutional investors, the costs associated with investing in mutual funds are higher than the investor can obtain through an individually managed portfolio.
Nationally Recognized Statistical Rating Organization (NRSRO). A credit rating agency that the Securities and Exchange Commission in the United States uses for regulatory purposes. Credit rating agencies provide assessments of an investment's risk. The issuers of investments, especially debt securities, pay credit rating agencies to provide them with ratings. The three most prominent NRSROs are Fitch, S&P, and Moody's.
Negotiable Certificate of Deposit (CD). A short-term debt instrument that pays interest and is issued by a bank, savings or federal association, state or federal credit union, or state-licensed branch of a foreign bank. Negotiable CDs are traded in a secondary market.
Item 9.7
City Council Meeting Agenda - Page 77 of 159 - Monday, April 20, 2026 18 Offer (Ask). An indicated price at which market participants are willing to sell a security.
Also referred to as the "ask price".
Paydown. A reduction in the principal amount owed on a bond, loan, or other debt.
Placement Service Deposits. A private service that allows local agencies to invest in FDIC-insured deposits with one or more banks, savings and loans, and credit unions located in the United States. lntraFi (formerly known as CDARS) is an example of an entity that provides this service.
Premium. The difference between the par value of a bond and the cost of the bond, when the cost is above par.
Primary Dealer. A financial institution (1) that is a trading counterparty with the Federal Reserve in its execution of market operations to carry out U.S. monetary policy, and (2) that participates for statistical reporting purposes in compiling data on activity in the U.S. Government securities market.
Prudent Investor (Prudent Person) Rule. A standard of responsibility which applies to fiduciaries. In California, the rule is stated as "Investments shall be managed with the care, skill, prudence and diligence, under the circumstances then prevailing, that a prudent person, acting in a like capacity and familiar with such matters, would use in the conduct of an enterprise of like character and with like aims to accomplish similar purposes."
Regional Dealer. A financial intermediary that buys and sells securities for the benefit of its customers without maintaining substantial inventories of securities and that is not a primary dealer.
Repurchase Agreement. Short-term purchases of securities with a simultaneous agreement to sell the securities back at a higher price. From the seller's point of view, the same transaction is a reverse repurchase agreement.
Safekeeping. A service to bank customers whereby securities are held by the bank in the customer's name.
Securities and Exchange Commission (SEC). The U.S. Securities and Exchange Commission (SEC) is an independent federal government agency responsible for protecting investors, maintaining fair and orderly functioning of securities markets and facilitating capital formation. It was created by Congress in 1934 as the first federal regulator of securities markets. The SEC promotes full public disclosure, protects investors against fraudulent and manipulative practices in the market, and monitors corporate takeover actions in the United States.
Securities and Exchange Commission (SEC) Rule 15c3-1. An SEC rule setting capital requirements for brokers and dealers. Under Rule 15c3-1, a broker or dealer must have sufficient liquidity in order to cover the most pressing obligations. This is defined as having a certain amount of liquidity as a percentage of the broker/dealer's total obligations. If the percentage falls below a certain point, the broker or dealer may not be allowed to take on new clients and may have restrictions placed on dealings with current clients.
Structured Note. Notes issued by Government Sponsored Enterprises (FHLB, FNMA, etc.) and Corporations, which have imbedded options (e.g., call features, step-up coupons, floating rate coupons, derivative-based returns) into their debt structure.
Their market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded options and shifts in the shape of the yield curve.
Supranational. A Supranational is a multi-national organization whereby member states transcend national boundaries or interests to share in the decision making to promote Item 9.7
City Council Meeting Agenda - Page 78 of 159 - Monday, April 20, 2026 19 economic development in the member countries.
Total Rate of Return. A measure of a portfolio's performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending value; it includes interest earnings, realized and unrealized gains, and losses in the portfolio.
U.S. Treasury Obligations. Securities issued by the U.S. Treasury and backed by the full faith and credit of the United States. Treasuries are considered to have no credit risk and are the benchmark for interest rates on all other securities in the US and overseas. The Treasury issues both discounted securities and fixed coupon notes and bonds.
Treasury Bills. All securities issued with initial maturities of one year or less are issued as discounted instruments and are called Treasury bills. The Treasury currently issues three- and six-month T-bills at regular weekly auctions. It also issues "cash management" bills as needed to smooth out cash flows.
Treasury Notes. All securities issued with initial maturities of two to ten years are called Treasury notes and pay interest semi-annually.
Treasury Bonds. All securities issued with initial maturities greater than ten years are called Treasury bonds. Like Treasury notes, they pay interest semi-annually.
Volatility. The rate at which security prices change with changes in general economic conditions or the general level of interest rates.
Yield to Maturity. The annualized internal rate of return on an investment which equates the expected cash flows from the investment to its cost.
Item 9.7
City Council Meeting Agenda - Page 79 of 159 - Monday, April 20, 2026 Current Period Fiscal YTD Cash
Type of Maturity Effective Interest/Svc Chg Interest/Svc Chg Balance Institution Investment Date Book Yield Rec/Accrued Rec/Accrued Cost Basis Bank of Montreal (BMO)Cash Basis Balance Checking Account $ 8,720,906.18 Plus Sweep Account Earned Credit Less Svc Chg 12/31/2025 Book Yield
LAIF* State Treas. Pool 12/31/2025 4.025 $ - $ - $ 19,669,610.30 (Local Area Investment Fund) Accrued Interest
Chandler Asset Mgmt Report Attached ** Max 5 Yrs 4.12 $ - $ - $ 8,246,059.00 Bank of NY TrusteePARS Section 115 Trust Various $ 2,065,444.37 TOTAL INVESTMENT PORTFOLIO $ - - $ 38,702,019.85 $
I hereby verify that this report is in conformity with the City's Investment Policy and there are sufficient funds to meet the City expenditurerequirements for the next six months.Erick CheungCity Treasurer City Treasurer's Investment Portfolio Report
For the Month Ending December 31, 2025
City of Pleasant Hill
https://pleasanthillca.sharepoint.com/sites/Finance/Shared Documents/Finance/Treasurer Drop Box/TreasurerSpreadsheets_EC Item 9.7
City Council Meeting Agenda - Page 80 of 159 - Monday, April 20, 2026 ACCOUNT NUMBER:
BMO Bank N.A.
P.O. Box 755
Chicago, IL 60690
Toll Free: 1-877-895-3278
STATEMENT PERIOD
12/01/25 TO 12/31/25
PAGE: 1 OF 7
CITY OF PLEASANT HILL
OPERATING ACCOUNT
100 GREGORY LN
ATT: TREASURER
PLEASANT HILL CA 94523-3323
ITEMS ENCLOSED 0
___________________________________________________________________________________________________
REGULAR CHECKING-PUBLIC FUNDS ACCOUNT NUMBER
___________________________________________________________________________________________________
ACCOUNT SUMMARY
YOUR PREVIOUS BALANCE WAS 4,109,771.64
YOUR TRANSACTIONS THIS PERIOD INCLUDED:
119 DEPOSITS 10,519,278.19
307 WITHDRAWALS 5,908,719.09
YOUR ENDING BALANCE WAS 8,720,330.74
YTD INTEREST PAID IS .00
YTD INTEREST WITHHELD IS .00
___________________________________________________________________________________________________
TRANSACTIONS LISTED BY DATE POSTED
DATE WITHDRAWALS DEPOSITS
POSTED TRANSACTION DESCRIPTION OTHER DEBITS OTHER CREDITS DEC 01 CCD MERCHANT SERVICE MERCH DEP 8041293278 23.36
DEC 01 CCD MERCHANT SERVICE MERCH DEP 8041293278 40.28
DEC 01 CCD MERCHANT SERVICE MERCH DEP 8041293351 778.50 DEC 01 CCD MERCHANT SERVICE MERCH DEP 8041293351 1,342.50 DEC 01 CCD MERCHANT SERVICE MERCH FEE 8040226899 10.00
DEC 01 CCD MERCHANT SERVICE MERCH FEE 8041293278 390.23 DEC 01 CCD MERCHANT SERVICE MERCH FEE 8041293351 3,307.39 DEC 02 CCD MERCHANT SERVICE MERCH DEP 8041293278 50.41
DEC 02 CCD MERCHANT SERVICE MERCH DEP 8040226899 685.77 DEC 02 REMOTE DEPOSIT 1,583.51
DEC 02 CCD MERCHANT SERVICE MERCH DEP 8041293351 1,680.34 DEC 02 REMOTE DEPOSIT 64,418.47
DEC 02 ZERO BALANCE TXFR TO DDA ACCT 0041834607 140,318.89 DEC 03 CCD MERCHANT SERVICE MERCH DEP 8041293278 221.01 DEC 03 CCD MERCHANT SERVICE MERCH DEP 8040226899 238.67 DEC 03 CCD MERCHANT SERVICE MERCH DEP 8041293351 7,366.91 DEC 03 ZERO BALANCE TXFR TO DDA ACCT 0041834607 1,613.32 DEC 04 CCD MERCHANT SERVICE MERCH DEP 8040226899 106.00 DEC 04 CCD MERCHANT SERVICE MERCH DEP 8041293278 221.75 DEC 04 REMOTE DEPOSIT 884.00
Item 9.7
City Council Meeting Agenda - Page 81 of 159 - Monday, April 20, 2026 BMO Bank N.A.
P.O. Box 755
Chicago, IL 60690
Toll Free: 1-877-895-3278
ACCOUNT NUMBER:
STATEMENT PERIOD
12/01/25 TO 12/31/25
PAGE: 1 OF 1
CITY OF PLEASANT HILL
100 GREGORY LN
PLEASANT HILL CA 94523
ITEMS ENCLOSED 0
___________________________________________________________________________________________________
REGULAR CHECKING-PUBLIC FUNDS ACCOUNT NUMBER
___________________________________________________________________________________________________
ACCOUNT SUMMARY
YOUR PREVIOUS BALANCE WAS 575.44
YOUR TRANSACTIONS THIS PERIOD INCLUDED:
0 DEPOSITS .00
1 WITHDRAWALS 575.44
YOUR ENDING BALANCE WAS .00
YTD INTEREST PAID IS .00
YTD INTEREST WITHHELD IS .00
___________________________________________________________________________________________________
TRANSACTIONS LISTED BY DATE POSTED
DATE WITHDRAWALS DEPOSITS
POSTED TRANSACTION DESCRIPTION OTHER DEBITS OTHER CREDITS DEC 09 PC TRANSFER DEBIT APPROVED BY CFO EC 575.44
___________________________________________________________________________________________________
CLOSING DAILY BALANCES AND DEBIT TOTALS
DATE BALANCE DEBITS DATE BALANCE DEBITS
DEC 09 .00 1
___________________________________________________________________________________________________
TRANSACTION SUMMARY INFORMATION
DESCRIPTION NUMBER AMOUNT DESCRIPTION NUMBER AMOUNT
PC TRANSFER DEBIT 1 575.44
___________________________________________________________________________________________________ Item 9.7
City Council Meeting Agenda - Page 82 of 159 - Monday, April 20, 2026 Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
CITY OF PLEASANT HILL
CITY TREASURER
100 GREGORY LANE
PLEASANT HILL, CA 94523-3323
Account Number:
December 2025 Statement
Tran Type Definitions
Effective
Date
Transaction
Date
Tran
Type Confirm
Number
Web
Confirm
Number Authorized Caller Amount
12/4/2025 12/3/2025 RW 1787518 1748139 ERICK CHEUNG -500,000.00 12/8/2025 12/5/2025 RW 1787592 1748227 ERICK CHEUNG -500,000.00 12/12/2025 12/11/2025 RW 1787871 1748500 ERICK CHEUNG -500,000.00 12/19/2025 12/17/2025 RW 1788049 1748684 ERICK CHEUNG -3,200,000.00 12/24/2025 12/23/2025 RD 1788377 N/A ERICK CHEUNG 1,000,000.00 12/24/2025 12/23/2025 RD 1788392 1749034 ERICK CHEUNG 1,200,000.00 Account Summary
Total Deposit: 2,200,000.00 Beginning Balance: 22,169,610.30 Total Withdrawal: -4,700,000.00 Ending Balance: 19,669,610.30 Item 9.7
City Council Meeting Agenda - Page 83 of 159 - Monday, April 20, 2026 CONFIDENTIAL | 2
City of Pleasant Hill | Account # | As of December 31, 2025 Execution Time: 01/06/2026 08:43:03 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Performance Review
Account Summary
Maturity Distribution
Top Issuers
Credit Quality*
Total Rate of Return** 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS Since Inception (02/01/07)
City of Pleasant Hill 0.29% 1.13% 5.46% 5.46% 4.92% 4.85% 2.11% 2.13% 1.98% Benchmark Return 0.32% 1.12% 5.09% 5.09% 4.58% 4.47% 1.79% 1.84% 2.03% Average Modified Duration 1.81
Average Coupon 3.99%
Average Purchase YTM 4.12%
Average Market YTM 3.66%
Average Credit Quality* AA
Average Final Maturity 1.99
Average Life 1.97
End Values as of
11/30/2025
End Values as of
12/31/2025
Market Value 8,297,522.47 8,325,668.79
Accrued Interest 83,245.15 78,592.58
Total Market Value 8,380,767.61 8,404,261.37
Income Earned 20,956.22 33,992.74
Cont/WD (832.68) (836.06)
Par 8,245,884.02 8,277,796.26
Book Value 8,212,795.20 8,246,059.00
Cost Value 8,212,795.20 8,246,059.00
United States 55.69%
Farm Credit System 11.55%
Federal Home Loan Banks 5.75%
Eli Lilly and Company 1.84%
The Home Depot, Inc. 1.69%
Deere & Company 1.23%
Bank of Montreal 1.23%
Abbvie Inc. 1.22%
**Periods over 1 year are annualized.
Benchmark: ICE BofA 1-3 Year US Treasury Index
*The average credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.
Item 9.7
City Council Meeting Agenda - Page 84 of 159 - Monday, April 20, 2026 Item 9.7
City Council Meeting Agenda - Page 85 of 159 - Monday, April 20, 2026
INVESTMENT REPORT
City of Pleasant Hill | As of December 31, 2025
CHANDLER ASSET MANAGEMENT | chandlerasset.com
Chandler Team:
For questions about your account, please call (800) 317-4747, or contact [email protected]
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.
Item 9.7
City Council Meeting Agenda - Page 86 of 159 - Monday, April 20, 2026
TABLE OF CONTENTS
ECONOMIC UPDATE
ACCOUNT PROFILE
PORTFOLIO HOLDINGS
TRANSACTIONS
1 Item 9.7
City Council Meeting Agenda - Page 87 of 159 - Monday, April 20, 2026
ECONOMIC UPDATE
2 Item 9.7
City Council Meeting Agenda - Page 88 of 159 - Monday, April 20, 2026 ▪
▪
▪
Recent economic data has signaled moderating inflation alongside a continued rebalancing in labor market conditions. Price pressures continues to run modestly above the Federal Reserve’s longer‑run objective, while the unemployment rate dropped to 4.4%. As the data flow normalizes, the Chandler team anticipates additional yield curve steepening as the Federal Reserve gradually guides the policy rate toward a more neutral range. One additional 25 basis point rate cut may come in the first half of 2026, while U.S. trade and fiscal policy continue to represent important sources of elevated market uncertainty.
The Federal Reserve’s January Federal Open Market Committee meeting concluded with policymakers leaving the target range unchanged at 3.50%–3.75% after three consecutive 25‑basis‑point cuts at the end of 2025. However, officials remain divided on the appropriate path forward, with Governors Christopher Waller and Stephen Miran dissenting in favor of an additional reduction. The future policy regime also began to take shape as President Trump announced Kevin Warsh as his nominee for the next Federal Reserve Chair.
The US Treasury yield curve steepened in January, as the 2-year Treasury yield rose 4 basis points to 3.52%, the 5-year Treasury was up 6 basis points to 3.79%, and the 10-year Treasury yield was 7 basis points higher at 4.24%. The spread between the 2-year and 10-year Treasury yield points on the curve was 2 basis points wider from December at +71 basis points at January month-end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was +56 basis points. The spread between the 3-month and 10-year Treasury yield points on the curve was +58 basis points in January versus +54 basis points in December.
ECONOMIC UPDATE
3 Item 9.7
City Council Meeting Agenda - Page 89 of 159 - Monday, April 20, 2026 -400
-200
0 200
400
600
800
1,000
MOM Change In Thousands (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
The January Nonfarm Payrolls report exceeded expectations, adding 130,000 jobs compared to the forecast of 65,000. Job gains were concentrated in the private education and health services sectors, while government employment posted the largest decline. Meanwhile, the unemployment rate declined for a second straight month to 4.3% in January, according to the Bureau of Labor Statistics. Taken together, the data suggest the labor market may be showing signs of stabilization at the start of 2026.
Source: US Department of Labor Source: US Department of Labor
EMPLOYMENT
4 Item 9.7
City Council Meeting Agenda - Page 90 of 159 - Monday, April 20, 2026 0 2,000
4,000
6,000
8,000
10,000
12,000
14,000
Job Openings
Recession
Historical Average In Thousands (000's) The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) reported that job openings fell to 6.5 million in December, reducing the ratio of openings to unemployed workers to 0.9—the lowest level since early 2022. The decline in vacancies, coupled with slower hiring, indicates a continued softening in labor demand, even as employers remain reluctant to cut staff. Layoffs and discharges rose in the transportation, utilities, and warehousing sectors but declined in finance and insurance.
Source: US Department of Labor
JOB OPENINGS & LABOR TURNOVER SURVEY
5 Item 9.7
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0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YOY (%) Change
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator
YOY % Change
PCE Core Deflator
YOY % Change
Fed Target
YOY (%) Change
On the headline basis, inflation moderated in January with the Consumer Price Index (CPI) rising 0.2% for the month, down from 0.3% in December. On an annual basis, headline CPI eased to 2.4% from 2.7% a year earlier. Core CPI, which excludes volatile food and energy prices, edged up to 0.3% in January from 0.2% the previous month, while the annual rate eased slightly to 2.5% from 2.6%. The Personal Consumption Expenditures (PCE) Index for October and November, released on January 22, showed headline inflation rising 0.2% in each month, driven by increases in both goods and services. On an annual basis, headline PCE inflation advanced 2.7% in October and 2.8% in November. Core PCE, which excludes food and energy, also rose 0.2% month-over-month in both months, while the annual rate edged up from 2.7% to 2.8% in November.
Source: US Department of Labor Source: US Department of Commerce
INFLATION
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City Council Meeting Agenda - Page 92 of 159 - Monday, April 20, 2026
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
Retail Sales YOY % Change
YOY (%) Change
Inclement weather may have contributed to Retail Sales missing analyst estimates in December. Advanced Retail Sales were unchanged on a month-over-month basis for the second consecutive month and increased at 2.4% on an annual basis. The control group measure, which feeds into GDP, unexpectedly declined -0.1% versus an estimate to rise 0.4% from November. The government shutdown may have weighed on consumer confidence regarding jobs, incomes, and overall financial conditions, both current and in the future. The Conference Board’s Consumer Confidence Index declined by 9.7 points to 84.5 in January from an upwardly revised 94.2 in December, sinking to its lowest level since 2014 and resuming the downtrend after a brief year‑end uptick. Consumers grew more pessimistic about both current and future business conditions and the labor market.
0 20
40 60
80 100
120
140
160
Index Level
Consumer Confidence
Recession
Source: US Department of Commerce Source: The Conference Board All time high is 144.70 (1/31/00); All time low is 25.30 (2/28/09)
CONSUMER
7 Item 9.7
City Council Meeting Agenda - Page 93 of 159 - Monday, April 20, 2026 -25.0%
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
Leading Economic Indicators (LEI)
Recession
YOY (%) Change
-1.00
-0.75
-0.50
-0.25
0.00 0.25
0.50 0.75
1.00 Chicago Fed National Activity Index (CFNAI)
Recession
3 Month Average
The Conference Board’s Leading Economic Index (LEI) declined 0.3% in November, marking its fourth consecutive monthly decrease after a revised 0.1% drop in October. On a year-over-year basis, the index fell 3.7%. According to the Conference Board, weak expectations among consumers led to the decline in LEI, followed by new orders. Despite strong GDP in the third quarter of 2025, the LEI continues to signal slower economic growth into 2026. The Chicago Fed National Activity Index (CFNAI) registered –0.04 in November, improving from –0.42 in October, but still signaling that U.S. economic activity remained slightly below its historical trend. The three‑month moving average increased to –0.23 in November from –0.34 in October, indicating that underlying growth has firmed but continues to run modestly below trend. Employment‑related indicators were negative in both November and October, pointing to a labor market that remains a mild drag on overall activity even as conditions have steadied relative to earlier in the year.
Source: The Conference Board Source: Federal Reserve Bank of Chicago
LEADING INDICATORS OF ECONOMIC ACTIVITY
8 Item 9.7
City Council Meeting Agenda - Page 94 of 159 - Monday, April 20, 2026 0 200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
In Thousands of Units
Annualized Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
The S&P Cotality Case-Shiller 20-City Composite Home Price Index rose 1.4% year-over-year in November remaining near the slowest annual increase since mid‑2023. Short‑term momentum softened further, with 15 of the 20 tracked markets posting month‑over‑month price declines on a non‑seasonally adjusted basis as higher mortgage rates and stretched affordability continued to weigh on demand.
Housing starts declined in October to an annualized rate of 1.25 million units adding 875 thousand single-family home starts and 372 thousand multifamily home starts. The Freddie Mac 30‑year fixed mortgage rate continued to trend lower at 6.10% at the end of January.
Source: US Department of Commerce Source: S&P
-20.0%
-16.0%
-12.0%
-8.0%
-4.0%
0.0%
4.0%
8.0%
12.0%
16.0%
20.0%
24.0%
S&P/Case-Shiller 20 City Composite Home Price Index
Recession
YOY (%) Change
HOUSING
9 Item 9.7
City Council Meeting Agenda - Page 95 of 159 - Monday, April 20, 2026 40 45
50 55
60 65
70 Institute of Supply Management (ISM) Surveys
ISM Manufacturing ISM Services
EXPANDING
CONTRACTING
The Institute for Supply Management’s (ISM) manufacturing and services indexes both indicated expansion in January, with the ISM Manufacturing Index rising to 52.6 and the Services Index reaching 53.8. Readings above 50 signal expansion, while those below 50 indicate contraction of the general state of the economy as it relates to business. The manufacturing index marked its highest level since August 2022, while the services index matched the highest since October 2024. Respondents remarked that tariff uncertainty is creating volatility in the supply chain.
Source: Institute for Supply Management
SURVEY BASED MEASURES
10 Item 9.7
City Council Meeting Agenda - Page 96 of 159 - Monday, April 20, 2026 Components of GDP 12/24 3/25 6/25 9/25
2.6% 0.4% 1.7% 2.3%
-1.3% 3.8% -2.7% 0.0%
-0.1% -4.7% 4.8% 1.6%
0.3% -0.4% -0.4% 0.2%
0.3% 0.2% 0.3% 0.2%
1.9% -0.6% 3.8% 4.4%
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
State and Local (Consumption and Gross
Investment) -10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Source: US Department of Commerce Source: US Department of Commerce Real gross domestic product (GDP) demonstrated continued strength in the third quarter, with the third estimate showing a 4.4% annualized quarter-over-quarter increase, up from 3.8% in the second quarter. Consumer spending accelerated, alongside of upturns in investment, exports, and government spending. The stronger-than-expected result represented the fastest pace of U.S. economic expansion in two years. The consensus projection calls for 2.2% growth in the fourth quarter and for the full year 2025.
GROSS DOMESTIC PRODUCT (GDP)
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0 1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
Recession
In $ millions
The Federal Reserve left its benchmark interest rate unchanged in January, keeping the target range at 3.50% to 3.75% after the December quarter‑point cut that was justified by signs of softening in the labor market. Policymakers maintained a cautious tone, acknowledging that inflation has continued to moderate but emphasizing that the outlook remains uncertain and that future adjustments will depend on incoming data. The Committee also reaffirmed its December decision to halt balance sheet runoff and to reinvest principal and interest payments from its securities holdings, signaling a desire to maintain ample reserves and support orderly market functioning while it assesses the effects of earlier tightening and recent rate cuts.
FEDERAL RESERVE
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Effective Federal Funds Rate
Recession
Yield (%)
12 Item 9.7
City Council Meeting Agenda - Page 98 of 159 - Monday, April 20, 2026 Source: Bloomberg Source: Bloomberg
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yield (%)
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
US Treasury Yield Curve
Jan-26
Oct-25
Jan-25
Yield (%)
At the end of January, the 2-year yield was 8 basis points lower, and the 10-year yield was 7 basis points higher, year-over-year. The spread between the 2-year and 10-year Treasury yield points on the curve increased to +71 basis points at January month-end versus +69 basis points at December month-end. The prior 2-year/10-year yield curve inversion, which spanned from July 2022 to August 2024, was historically long. The average historical spread (since 2005) is about +95 basis points. The spread between the 3-month and 10-year Treasury yield points on the curve was +58 basis points in January versus +54 basis points in December.
BOND YIELDS
13 Item 9.7
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ACCOUNT PROFILE
14 Item 9.7
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OBJECTIVES
Investment Objectives
The investment objectives of the City of Pleasant Hill are first, to provide safety of principal to ensure the preservation of capital in the overall portfolio;second, to provide sufficient liquidity to meet all operating requirements; and third, to earn a commensurate rate of return consistent with the constraints imposed by the safety and liquidity objectives.
Chandler Asset Management Performance Objective
The performance objective for the portfolio is to earn a total rate of return through a market cycle that is equal to or above the return on the benchmark index.
Strategy
In order to achieve this objective, the portfolio invests in high-quality fixed income securities that comply with the investment policy and all regulations governing the funds. 15 Item 9.7
City Council Meeting Agenda - Page 101 of 159 - Monday, April 20, 2026
STATEMENT OF COMPLIANCE
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Rules Name Limit Actual Compliance
Status Notes
AGENCY MORTGAGE SECURITIES
Max % (MV) 100.0 0.0 Compliant
Max % Issuer (MV) 30.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
ASSET-BACKED SECURITIES (ABS)
Max % (MV; Non Agency ABS & MBS) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
BANKERS' ACCEPTANCES
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant
COLLATERALIZED BANK DEPOSITS
Max % (MV) 100.0 0.0 Compliant
COLLATERALIZED TIME DEPOSITS (NONNEGOTIABLE CD/TD)
Max % (MV; FDIC & Collateralized CD/TD) 20.0 0.0 Compliant Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
COMMERCIAL PAPER
Max % (MV) 25.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant
CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 26.4 Compliant
Max % Issuer (MV) 5.0 1.8 Compliant
Max Maturity (Years) 5 4 Compliant
16 Item 9.7
City Council Meeting Agenda - Page 102 of 159 - Monday, April 20, 2026
STATEMENT OF COMPLIANCE
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Rules Name Limit Actual Compliance
Status Notes
Min Rating (A- by 1) 0.0 0.0 Compliant
FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % (MV; FDIC & Collateralized CD/TD) 20.0 0.0 Compliant Max Maturity (Years) 5 0.0 Compliant
FEDERAL AGENCIES
Max % (MV) 100.0 17.3 Compliant
Max % Issuer (MV) 30.0 11.5 Compliant
Max Callables (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5 2 Compliant
LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 0.0 Compliant
LOCAL GOVERNMENT INVESTMENT POOL (LGIP)
Max % (MV) 100.0 0.0 Compliant
MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 0.6 Compliant
Max % Issuer (MV) 5.0 0.6 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant
MORTGAGE-BACKED SECURITIES (NON-AGENCY)
Max % (MV; Non Agency ABS & MBS) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV; All Municipal Securities) 30.0 0.0 Compliant Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant
MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV; All Municipal Securities) 30.0 0.0 Compliant 17 Item 9.7
City Council Meeting Agenda - Page 103 of 159 - Monday, April 20, 2026
STATEMENT OF COMPLIANCE
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Rules Name Limit Actual Compliance
Status Notes
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant
NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant
REPURCHASE AGREEMENTS
Max Maturity (Years) 1.0 0.0 Compliant
SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 10.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 55.7 Compliant
Max Maturity (Years) 5 4 Compliant
18 Item 9.7
City Council Meeting Agenda - Page 104 of 159 - Monday, April 20, 2026
PORTFOLIO CHARACTERISTICS
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Benchmark* 12/31/2025
Portfolio
9/30/2025
Portfolio
Average Maturity (yrs) 1.85 1.99 2.01
Average Modified Duration 1.76 1.81 1.84
Average Purchase Yield 4.12% 4.13%
Average Market Yield 3.50% 3.66% 3.80%
Average Quality** AA+ AA AA
Total Market Value 8,404,261 8,313,223
*Benchmark: ICE BofA 1-3 Year US Treasury Index
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 19 Item 9.7
City Council Meeting Agenda - Page 105 of 159 - Monday, April 20, 2026
SECTOR DISTRIBUTION
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Sector as a Percentage of Market Value
Sector 12/31/2025 09/30/2025
US Treasury 55.70% 54.43%
Corporate 26.43% 25.78%
Agency 17.30% 18.35%
Money Mkt Fd 0.57% 1.43%
20 Item 9.7
City Council Meeting Agenda - Page 106 of 159 - Monday, April 20, 2026
ISSUERS
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Issuer Investment Type % Portfolio
United States US Treasury 55.69%
Farm Credit System Agency 11.55%
Federal Home Loan Banks Agency 5.75%
Eli Lilly and Company Corporate 1.84%
The Home Depot, Inc. Corporate 1.69%
Deere & Company Corporate 1.23%
Bank of Montreal Corporate 1.23%
Abbvie Inc. Corporate 1.22%
Bank of America Corporation Corporate 1.22%
Blackrock, Inc. Corporate 1.22%
American Honda Finance Corporation Corporate 1.21%
Royal Bank of Canada Corporate 1.21%
JPMorgan Chase & Co. Corporate 1.20%
UnitedHealth Group Incorporated Corporate 1.20%
Prologis, Inc. Corporate 1.20%
Realty Income Corporation Corporate 1.14%
The Goldman Sachs Group, Inc. Corporate 1.08%
Morgan Stanley Corporate 1.08%
Caterpillar Inc. Corporate 0.96%
PACCAR Inc Corporate 0.91%
State Street Corporation Corporate 0.85%
Apple Inc. Corporate 0.79%
Berkshire Hathaway Inc. Corporate 0.71%
Target Corporation Corporate 0.71%
National Rural Utilities Cooperative Corporate 0.60%
Amazon.com, Inc. Corporate 0.60%
FMR LLC Money Mkt Fd 0.57%
Cisco Systems, Inc. Corporate 0.49%
Alphabet Inc. Corporate 0.42%
Northern Trust Corporation Corporate 0.24%
21 Item 9.7
City Council Meeting Agenda - Page 107 of 159 - Monday, April 20, 2026
ISSUERS
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Issuer Investment Type % Portfolio
Walmart Inc. Corporate 0.18%
Cash Cash 0.00%
TOTAL 100.00%
22 Item 9.7
City Council Meeting Agenda - Page 108 of 159 - Monday, April 20, 2026
QUALITY DISTRIBUTION
Rating 12/31/2025 09/30/2025
AAA 0.57% 0.30%
AA 77.37% 77.02%
A 20.37% 22.07%
BBB 1.08% --
NA 0.61% 0.61%
Rating 12/31/2025 09/30/2025
Aaa 1.35% 1.10%
Aa 78.21% 78.44%
A 20.44% 20.46%
Rating 12/31/2025 09/30/2025
AAA 0.57% 0.30%
AA 79.48% 80.69%
A 9.49% 9.24%
NA 10.46% 9.77%
City of Pleasant Hill | Account #10009 | As of December 31, 2025 S&P Rating Moody’s Rating Fitch Rating
23 Item 9.7
City Council Meeting Agenda - Page 109 of 159 - Monday, April 20, 2026
DURATION DISTRIBUTION
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Date 0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
12/31/2025 8.2% 6.0% 13.7% 25.7% 34.9% 11.5% 0.0% 0.0% 0.0% 09/30/2025 4.2% 8.0% 15.4% 27.3% 27.9% 17.2% 0.0% 0.0% 0.0% 24 Item 9.7
City Council Meeting Agenda - Page 110 of 159 - Monday, April 20, 2026 TOTAL RATE OF RETURN* 3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception City of Pleasant Hill 1.13% 5.46% 4.92% 4.85% 2.11% 2.13% 1.98% Benchmark 1.12% 5.09% 4.58% 4.47% 1.79% 1.84% 2.03%
*Periods over 1 year are annualized.
Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized and unrealized gains and losses in the portfolio.
Benchmark: ICE BofA 1-3 Year US Treasury Index
INVESTMENT PERFORMANCE
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Total Rate of Return : Inception | 02/01/2007
25 Item 9.7
City Council Meeting Agenda - Page 111 of 159 - Monday, April 20, 2026
HISTORICAL AVERAGE PURCHASE YIELD
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Purchase Yield as of 12/31/25 = 4.12%
26 Item 9.7
City Council Meeting Agenda - Page 112 of 159 - Monday, April 20, 2026
PORTFOLIO HOLDINGS
27 Item 9.7
City Council Meeting Agenda - Page 113 of 159 - Monday, April 20, 2026
HOLDINGS REPORT
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
AGENCY
3133EPW68 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.125 01/22/2026 125,000.00 01/24/20244.40% 124,362.50
124,362.50
100.03
3.60%
125,031.75
2,277.34
1.50%
669.25
Aa1/AA+
AA+
0.06 0.06
3133EPCR4 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.75 03/09/2026 80,000.00 04/10/20233.97%
81,690.40
81,690.40
100.20
3.61%
80,160.56
1,182.22
0.96%
(1,529.84)
Aa1/AA+
AA+
0.19 0.18
3133EPHH1 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.0 04/28/2026 45,000.00 05/15/20233.85%
45,183.15
45,183.15
100.08
3.71%
45,037.98
315.00
0.54%
(145.17)
Aa1/AA+
AA+
0.32 0.32
3130AWGR5 FEDERAL HOME LOAN BANKS
4.375 06/12/2026 100,000.00 07/10/20234.67%
99,202.00
99,202.00
100.29
3.69%
100,293.80
230.90
1.20%
1,091.80
Aa1/AA+
AA+
0.45 0.44
3133EPPE9 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.375 07/06/2026 100,000.00 07/19/20234.45% 99,803.00
99,803.00
100.36
3.66%
100,360.80
2,126.74
1.21%
557.80
Aa1/AA+
AA+
0.51 0.49
3133EPSW6 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 08/14/2026 100,000.00 08/09/20234.58%
99,770.00
99,770.00
100.55
3.59%
100,548.50
1,712.50
1.21%
778.50
Aa1/AA+
AA+
0.62 0.60
3130AWTQ3 FEDERAL HOME LOAN BANKS
4.625 09/11/2026 75,000.00 09/05/20234.74%
74,748.00
74,748.00
100.69
3.60%
75,517.05
1,059.90
0.91%
769.05
Aa1/AA+
AA+
0.70 0.67
3130AXU63 FEDERAL HOME LOAN BANKS
4.625 11/17/2026 75,000.00 12/18/20234.23%
75,798.75
75,798.75
100.85
3.62%
75,640.58
423.96
0.91%
(158.18)
Aa1/AA+
AA+
0.88 0.85
3130AXQL5 FEDERAL HOME LOAN BANKS
4.875 12/11/2026 125,000.00 02/05/20244.29%
126,917.50
126,917.50
101.25
3.52%
126,556.25
338.54
1.52%
(361.25)
Aa1/AA+
AA+
0.94 0.91
3133EP6K6 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 03/26/2027 155,000.00 --4.64%
154,416.10
154,416.10
101.18
3.51%
156,826.83
1,840.63
1.88%
2,410.73
Aa1/AA+
AA+
1.23 1.18
3133ERFJ5 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 05/20/2027 100,000.00 05/23/20244.80%
99,184.50
99,184.50
101.31
3.52%
101,312.20
512.50
1.22%
2,127.70
Aa1/AA+
AA+
1.38 1.33
3133ERMB4 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.25 07/23/2027 100,000.00 07/18/20244.26% 99,969.00
99,969.00
101.12
3.50%
101,121.80
1,865.28
1.21%
1,152.80
Aa1/AA+
AA+
1.56 1.47
3133ERNP2 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.0 08/06/2027 150,000.00 08/19/20243.92%
150,343.50
150,343.50
100.70
3.54%
151,054.80
2,416.67
1.81%
711.30
Aa1/AA+
AA+
1.60 1.51
3130AWC24 FEDERAL HOME LOAN BANKS 4.0
06/09/2028 100,000.00 06/28/20234.10%
99,562.00
99,562.00
101.12
3.52%
101,117.90
244.44
1.21%
1,555.90
Aa1/AA+
AA+
2.44 2.30
Total Agency 1,430,000.00 4.37%
1,430,950.40
1,430,950.40
100.74
3.57%
1,440,580.80
16,546.61
17.30%
9,630.40
0.98 0.94
CASH
28 Item 9.7
City Council Meeting Agenda - Page 114 of 159 - Monday, April 20, 2026
HOLDINGS REPORT
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CCYUSD Receivable 175.18 -- 175.18
175.18
1.00 175.18
0.00 0.00%
0.00 Aaa/AAA
AAA
0.00 0.00
Total Cash 175.18
175.18
175.18
1.00 175.18
0.00 0.00%
0.00 0.00
0.00 CORPORATE
931142ER0 WALMART INC 1.05 09/17/2026 15,000.00 09/08/2021
1.09%
14,971.65
14,971.65
98.21 3.63%
14,731.65
45.50 0.18%
(240.00)
Aa2/AA
AA
0.71 0.69
437076CV2 HOME DEPOT INC 4.95
09/30/2026 90,000.00 04/22/20245.11%
89,676.90
89,676.90
100.75
3.92%
90,671.13
1,126.13
1.09%
994.23
A2/A
A
0.75 0.64
74340XBK6 PROLOGIS LP 3.25 10/01/2026 100,000.00 --
4.67%
96,450.60
96,450.60
99.59 3.81%
99,585.40
812.50
1.20%
3,134.80
A2/A
NA
0.75 0.73
87612EBM7 TARGET CORP 1.95 01/15/2027 60,000.00 --
2.01%
59,827.65
59,827.65
98.20 3.73%
58,921.08
539.50
0.71%
(906.57)
A2/A
A
1.04 1.00
78016HZT0 ROYAL BANK OF CANADA 4.875
01/19/2027 100,000.00 03/12/20244.93%
99,847.00
99,847.00
101.03
3.86%
101,034.80
2,193.75
1.21%
1,187.80
A1/A
AA1.050.99
17275RBQ4 CISCO SYSTEMS INC 4.8
02/26/2027 40,000.00 02/21/20244.85%
39,948.00
39,948.00
101.12
3.79%
40,448.44
666.67
0.49%
500.44
A1/AANA1.16
1.02 084664CZ2 BERKSHIRE HATHAWAY FINANCE
CORP 2.3 03/15/2027 60,000.00 03/07/20222.30%
59,988.60
59,988.60
98.42 3.65%
59,054.88
406.33
0.71%
(933.72)
Aa2/AA
A+
1.20 1.16
857477CL5 STATE STREET CORP 4.993
03/18/2027 70,000.00 03/13/20244.99%
70,000.00
70,000.00
101.34
3.85%
70,937.30
999.99
0.85%
937.30
Aa3/A
AA1.211.08
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 20,000.00 05/05/20224.04%
19,967.60
19,967.60
100.33
3.75%
20,065.24
113.33
0.24%
97.64 A2/A+
A+
1.36 1.22
09290DAH4 BLACKROCK INC 4.6 07/26/2027 100,000.00 07/18/2024
4.57%
100,086.00
100,086.00
101.32
3.73%
101,315.40
1,980.56
1.22%
1,229.40
Aa3/AANA1.57
1.40 532457CP1 ELI LILLY AND CO 4.15 08/14/2027 50,000.00 08/12/2024
4.18%
49,959.50
49,959.50
100.74
3.67%
50,368.10
789.65
0.60%
408.60
Aa3/A+
NA
1.62 1.45
06368LGV2 BANK OF MONTREAL 5.203
02/01/2028 100,000.00 --5.29%
99,614.40
99,614.40
102.53
3.92%
102,532.60
2,167.92
1.23%
2,918.20
A2/AAA2.09
1.85 02665WFX4 AMERICAN HONDA FINANCE
CORP 4.55 03/03/2028 100,000.00 03/06/20254.60%
99,851.00
99,851.00
101.05
4.04%
101,045.20
1,491.39
1.21%
1,194.20
A3/ANA2.17
2.02 29
Item 9.7
City Council Meeting Agenda - Page 115 of 159 - Monday, April 20, 2026
HOLDINGS REPORT
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
00287YDY2 ABBVIE INC 4.65 03/15/2028 100,000.00 --
4.55%
100,266.00
100,266.00
101.68
3.85%
101,676.80
1,369.17
1.22%
1,410.80
A3/ANA2.21
1.98 037833ET3 APPLE INC 4.0 05/10/2028 65,000.00 05/10/2023
3.91%
65,257.40
65,257.40
100.76
3.66%
65,494.00
368.33
0.79%
236.60
Aaa/AA+
NA
2.36 2.14
91324PDK5 UNITEDHEALTH GROUP INC 3.85
06/15/2028 100,000.00 03/24/20254.40%
98,362.00
98,362.00
99.89 3.90%
99,894.10
171.11
1.20%
1,532.10
A2/A+
A
2.46 2.31
63743HFZ0
NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP 4.15
08/25/2028
50,000.00
08/19/2025
4.19%
49,944.00
49,944.00
100.52
3.94%
50,261.60
726.25
0.60%
317.60
A2/NA
A
2.65 2.38
437076DH2 HOME DEPOT INC 3.75
09/15/2028 50,000.00 09/08/20253.77%
49,967.50
49,967.50
100.03
3.74%
50,014.05
552.08
0.60%
46.55 A2/A
A
2.71 2.52
69371RU20 PACCAR FINANCIAL CORP 4.0
11/07/2028 75,000.00 11/05/20254.02%
74,958.00
74,958.00
100.47
3.82%
75,350.63
450.00
0.91%
392.63
A1/A+
NA
2.85 2.65
14913UBD1 CATERPILLAR FINANCIAL SERVICES
CORP 3.95 11/14/2028 80,000.00 11/10/20253.97%
79,957.60
79,957.60
100.24
3.86%
80,188.08
412.56
0.96%
230.48
A2/A
A+
2.87 2.67
02079KAV9 ALPHABET INC 3.875 11/15/2028 35,000.00 11/03/2025
3.91%
34,969.90
34,969.90
100.49
3.69%
35,170.73
207.20
0.42%
200.83
Aa2/AA+
NA
2.88 2.60
023135CS3 AMAZON.COM INC 3.9
11/20/2028 50,000.00 11/17/20253.91%
49,989.00
49,989.00
100.31
3.79%
50,153.00
222.08
0.60%
164.00
A1/AA
AA2.892.62
756109CW2 REALTY INCOME CORP 3.95
02/01/2029 95,000.00 09/25/20254.14%
94,441.40
94,441.40
99.65 4.07%
94,671.49
886.01
1.14%
230.09
A3/ANA3.09
2.85 46647PAR7 JPMORGAN CHASE & CO 4.005
04/23/2029 100,000.00 05/09/20254.59%
98,391.00
98,391.00
99.90 4.34%
99,903.60
756.50
1.20%
1,512.60
A1/A
AA3.312.17
06051GMT3 BANK OF AMERICA CORP 4.623
05/09/2029 100,000.00 05/08/20254.86%
99,787.00
99,787.00
101.33
4.26%
101,326.60
667.77
1.22%
1,539.60
A1/AAA3.35
2.20 24422EXT1 JOHN DEERE CAPITAL CORP 4.85
06/11/2029 100,000.00 09/25/20244.02%
103,527.00
103,527.00
102.76
3.98%
102,756.80
269.44
1.23%
(770.20)
A1/A
A+
3.44 3.14
61748UAK8 MORGAN STANLEY 4.133
10/18/2029 90,000.00 10/21/20254.10%
90,082.80
90,082.80
99.97 4.27%
89,971.02
712.94
1.08%
(111.78)
A1/AA+3.80
2.59 38141GD27 GOLDMAN SACHS GROUP INC
4.153 10/21/2029 90,000.00 --4.24%
90,030.50
90,030.50
99.98 4.27%
89,979.84
726.78
1.08%
(50.66)
A2/BBB+
A
3.80 2.60
532457CV8 ELI LILLY AND CO 4.75 02/12/2030 100,000.00 02/10/2025
4.75%
100,022.00
100,022.00
102.83
4.00%
102,828.00
1,834.03
1.24%
2,806.00
Aa3/A+
NA
4.12 3.58
30 Item 9.7
City Council Meeting Agenda - Page 116 of 159 - Monday, April 20, 2026
HOLDINGS REPORT
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Corporate 2,185,000.00 4.33%
2,180,142.00
2,180,142.00
100.71
3.93%
2,200,351.56
23,665.46
26.43%
20,209.56
2.38 2.02
MONEY MARKET
FUND
316175603 FIDELITY IMM:GOVT III 47,621.08 --
3.41%
47,621.08
47,621.08
1.00 3.41%
47,621.08
0.00 0.57%
0.00 Aaa/AAAm
AAA
0.00 0.00
Total Money Market
Fund 47,621.08 3.41%
47,621.08
47,621.08
1.00 3.41%
47,621.08
0.00 0.57%
0.00 0.00
0.00 US TREASURY
91282CGE5 UNITED STATES TREASURY 3.875
01/15/2026 100,000.00 01/24/20233.87%
100,015.63
100,015.63
100.00
3.69%
100,004.10
1,790.08
1.20%
(11.53)
Aa1/AA+
AA+
0.04 0.04
91282CBH3 UNITED STATES TREASURY 0.375
01/31/2026 80,000.00 10/27/20211.11%
77,562.50
77,562.50
99.74 3.68%
79,792.16
125.54
0.96%
2,229.66
Aa1/AA+
AA+
0.08 0.08
91282CBQ3 UNITED STATES TREASURY 0.5
02/28/2026 100,000.00 09/27/20210.90%
98,253.90
98,253.90
99.48 3.82%
99,479.40
169.89
1.19%
1,225.50
Aa1/AA+
AA+
0.16 0.16
91282CGR6 UNITED STATES TREASURY 4.625
03/15/2026 150,000.00 02/13/20244.55%
150,205.08
150,205.08
100.19
3.63%
150,281.10
2,069.75
1.81%
76.02 Aa1/AA+
AA+
0.20 0.20
91282CHB0 UNITED STATES TREASURY 3.625
05/15/2026 105,000.00 05/22/20233.98%
103,970.51
103,970.51
100.03
3.53%
105,028.46
494.18
1.26%
1,057.95
Aa1/AA+
AA+
0.37 0.36
91282CHH7 UNITED STATES TREASURY 4.125
06/15/2026 150,000.00 02/05/20244.34%
149,267.58
149,267.58
100.28
3.49%
150,417.30
288.98
1.81%
1,149.72
Aa1/AA+
AA+
0.45 0.44
91282CHY0 UNITED STATES TREASURY 4.625
09/15/2026 150,000.00 02/05/20244.30%
151,166.02
151,166.02
100.73
3.55%
151,095.45
2,069.75
1.81%
(70.57)
Aa1/AA+
AA+
0.71 0.68
91282CJP7 UNITED STATES TREASURY 4.375
12/15/2026 150,000.00 02/05/20244.25%
150,480.47
150,480.47
100.78
3.53%
151,176.60
306.49
1.82%
696.13
Aa1/AA+
AA+
0.96 0.92
91282CJT9 UNITED STATES TREASURY 4.0
01/15/2027 150,000.00 01/23/20244.17%
149,273.44
149,273.44
100.48
3.52%
150,719.25
2,771.74
1.81%
1,445.81
Aa1/AA+
AA+
1.04 0.99
91282CKA8 UNITED STATES TREASURY 4.125
02/15/2027 150,000.00 02/13/20244.39%
148,875.00
148,875.00
100.66
3.52%
150,984.45
2,337.13
1.81%
2,109.45
Aa1/AA+
AA+
1.13 1.07
91282CKV2 UNITED STATES TREASURY 4.625
06/15/2027 125,000.00 06/24/20244.47%
125,532.23
125,532.23
101.60
3.48%
126,997.13
270.00
1.53%
1,464.90
Aa1/AA+
AA+
1.45 1.39
31 Item 9.7
City Council Meeting Agenda - Page 117 of 159 - Monday, April 20, 2026
HOLDINGS REPORT
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CLG4 UNITED STATES TREASURY 3.75
08/15/2027 150,000.00 10/23/20244.03%
148,892.58
148,892.58
100.41
3.48%
150,621.15
2,124.66
1.81%
1,728.57
Aa1/AA+
AA+
1.62 1.54
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 85,000.00 06/03/20253.92%
85,371.88
85,371.88
101.07
3.48%
85,909.76
895.83
1.03%
537.88
Aa1/AA+
AA+
1.75 1.65
91282CFU0 UNITED STATES TREASURY 4.125
10/31/2027 115,000.00 12/19/20223.76%
116,828.32
116,828.32
101.11
3.49%
116,275.81
812.47
1.40%
(552.51)
Aa1/AA+
AA+
1.83 1.74
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 110,000.00 04/10/20233.56%
111,465.23
111,465.23
100.75
3.48%
110,820.71
11.77 1.33%
(644.52)
Aa1/AA+
AA+
2.00 1.91
91282CMF5 UNITED STATES TREASURY 4.25
01/15/2028 150,000.00 01/27/20254.24%
150,058.59
150,058.59
101.47
3.49%
152,209.05
2,944.97
1.83%
2,150.46
Aa1/AA+
AA+
2.04 1.90
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 125,000.00 12/20/20233.99%
122,705.08
122,705.08
100.02
3.49%
125,024.38
1,830.84
1.50%
2,319.30
Aa1/AA+
AA+
2.08 1.96
91282CGT2 UNITED STATES TREASURY 3.625
03/31/2028 150,000.00 03/24/20254.01%
148,365.23
148,365.23
100.27
3.50%
150,398.40
1,389.25
1.81%
2,033.17
Aa1/AA+
AA+
2.25 2.12
91282CMW8 UNITED STATES TREASURY 3.75
04/15/2028 120,000.00 04/21/20253.76%
119,957.81
119,957.81
100.52
3.51%
120,623.40
964.29
1.45%
665.59
Aa1/AA+
AA+
2.29 2.16
91282CND9 UNITED STATES TREASURY 3.75
05/15/2028 140,000.00 05/13/20254.01%
138,971.88
138,971.88
100.54
3.51%
140,760.20
681.63
1.69%
1,788.32
Aa1/AA+
AA+
2.37 2.24
91282CHK0 UNITED STATES TREASURY 4.0
06/30/2028 90,000.00 10/19/20234.96%
86,414.06
86,414.06
101.17
3.51%
91,054.71
9.94 1.09%
4,640.65
Aa1/AA+
AA+
2.50 2.36
9128284V9 UNITED STATES TREASURY 2.875
08/15/2028 180,000.00 07/03/20253.86%
174,874.22
174,874.22
98.39 3.52%
177,110.10
1,954.69
2.13%
2,235.88
Aa1/AA+
AA+
2.62 2.47
91282CHX2 UNITED STATES TREASURY 4.375
08/31/2028 100,000.00 09/13/20234.41%
99,851.56
99,851.56
102.11
3.53%
102,113.30
1,486.53
1.23%
2,261.74
Aa1/AA+
AA+
2.67 2.46
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 125,000.00 --4.21%
128,590.82
128,590.82
103.54
3.54%
129,428.75
1,043.68
1.55%
837.93
Aa1/AA+
AA+
2.84 2.61
91282CPK1 UNITED STATES TREASURY 3.5
11/15/2028 120,000.00 11/20/20253.56%
119,803.13
119,803.13
99.89 3.54%
119,868.72
545.30
1.44%
65.59 Aa1/AA+
AA+
2.88 2.69
91282CJN2 UNITED STATES TREASURY 4.375
11/30/2028 125,000.00 01/23/20244.05%
126,782.23
126,782.23
102.27
3.55%
127,836.88
480.77
1.54%
1,054.65
Aa1/AA+
AA+
2.92 2.71
91282CPP0 UNITED STATES TREASURY 3.5
12/15/2028 200,000.00 12/15/20253.56%
199,664.06
199,664.06
99.88 3.54%
199,765.60
326.92
2.40%
101.54
Aa1/AA+
AA+
2.96 2.78
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 125,000.00 01/23/20244.06%
123,295.90
123,295.90
100.57
3.55%
125,708.00
12.95 1.51%
2,412.10
Aa1/AA+
AA+
3.00 2.81
32 Item 9.7
City Council Meeting Agenda - Page 118 of 159 - Monday, April 20, 2026
HOLDINGS REPORT
City of Pleasant Hill | Account #10009 | As of December 31, 2025 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
9128286B1 UNITED STATES TREASURY 2.625
02/15/2029 120,000.00 06/18/20253.90%
114,843.75
114,843.75
97.23 3.57%
116,681.28
1,189.81
1.40%
1,837.53
Aa1/AA+
AA+
3.13 2.93
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 125,000.00 06/24/20244.30%
124,082.03
124,082.03
101.66
3.58%
127,070.38
1,317.39
1.53%
2,988.35
Aa1/AA+
AA+
3.25 2.99
91282CFC0 UNITED STATES TREASURY 2.625
07/31/2029 140,000.00 08/25/20253.72%
134,421.88
134,421.88
96.71 3.61%
135,395.26
1,537.91
1.63%
973.38
Aa1/AA+
AA+
3.58 3.34
91282CLK5 UNITED STATES TREASURY 3.625
08/31/2029 125,000.00 09/23/20243.53%
125,517.58
125,517.58
99.98 3.63%
124,980.50
1,539.62
1.50%
(537.08)
Aa1/AA+
AA+
3.67 3.36
91282CFL0 UNITED STATES TREASURY 3.875
09/30/2029 125,000.00 10/23/20244.07%
123,920.90
123,920.90
100.86
3.62%
126,079.13
1,237.55
1.51%
2,158.23
Aa1/AA+
AA+
3.75 3.42
91282CLR0 UNITED STATES TREASURY 4.125
10/31/2029 125,000.00 12/19/20244.41%
123,471.68
123,471.68
101.71
3.64%
127,138.63
883.11
1.53%
3,666.95
Aa1/AA+
AA+
3.83 3.49
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 125,000.00 12/19/20244.40%
123,476.56
123,476.56
101.73
3.65%
127,158.25
453.30
1.53%
3,681.69
Aa1/AA+
AA+
3.91 3.58
91282CGB1 UNITED STATES TREASURY 3.875
12/31/2029 110,000.00 09/22/20253.66%
110,941.02
110,941.02
100.85
3.64%
110,932.47
11.77 1.33%
(8.55)
Aa1/AA+
AA+
4.00 3.67
Total US Treasury 4,615,000.00 3.95%
4,587,170.34
4,587,170.34
100.49
3.55%
4,636,940.18
38,380.51
55.69%
49,769.84
2.14 2.00
Total Portfolio 8,277,796.26 4.12%
8,246,059.00
8,246,059.00
100.02
3.66%
8,325,668.79
78,592.58
100.00%
79,609.79
1.99 1.81
Total Market Value +
Accrued 8,404,261.37
33 Item 9.7
City Council Meeting Agenda - Page 119 of 159 - Monday, April 20, 2026
TRANSACTIONS
34 Item 9.7
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TRANSACTION LEDGER
City of Pleasant Hill | Account #10009|10/01/2025 Through 12/31/2025| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 10/21/2025 38141GD27 40,000.00
GOLDMAN SACHS
GROUP INC 4.153
10/21/2029
100.000 4.38% (40,000.00) 0.00 (40,000.00) 0.00
Purchase 10/22/2025 38141GD27 50,000.00
GOLDMAN SACHS
GROUP INC 4.153
10/21/2029
100.061 4.13% (50,030.50) (5.77) (50,036.27) 0.00
Purchase 10/22/2025 61748UAK8 90,000.00 MORGAN STANLEY
4.133 10/18/2029 100.092 4.10% (90,082.80) 0.00 (90,082.80) 0.00 Purchase 11/06/2025 02079KAV9 35,000.00 ALPHABET INC 3.875 11/15/2028 99.914 3.91% (34,969.90) 0.00 (34,969.90) 0.00 Purchase 11/07/2025 69371RU20 75,000.00 PACCAR FINANCIAL CORP 4.0 11/07/2028 99.944 4.02% (74,958.00) 0.00 (74,958.00) 0.00 Purchase 11/14/2025 14913UBD1 80,000.00
CATERPILLAR
FINANCIAL SERVICES
CORP 3.95 11/14/2028
99.947 3.97% (79,957.60) 0.00 (79,957.60) 0.00
Purchase 11/20/2025 023135CS3 50,000.00 AMAZON.COM INC 3.9 11/20/2028 99.978 3.91% (49,989.00) 0.00 (49,989.00) 0.00 Purchase 11/21/2025 91282CPK1 120,000.00
UNITED STATES
TREASURY 3.5
11/15/2028
99.836 3.56% (119,803.13) (69.61) (119,872.74) 0.00
Purchase 12/16/2025 91282CPP0 200,000.00
UNITED STATES
TREASURY 3.5
12/15/2028
99.832 3.56% (199,664.06) (19.23) (199,683.29) 0.00
Total Purchase 740,000.00 (739,454.99) (94.61) (739,549.60) 0.00 TOTAL
ACQUISITIONS 740,000.00 (739,454.99) (94.61) (739,549.60) 0.00
DISPOSITIONS
Maturity 11/07/2025 3135G06G3 (90,000.00)
FEDERAL NATIONAL
MORTGAGE
ASSOCIATION 0.5
11/07/2025
100.000 0.57% 90,000.00 0.00 90,000.00 322.20
Maturity 11/30/2025 9128285N6 (55,000.00)
UNITED STATES
TREASURY 2.875
11/30/2025
100.000 3.77% 55,000.00 0.00 55,000.00 1,478.13
35 Item 9.7
City Council Meeting Agenda - Page 121 of 159 - Monday, April 20, 2026
TRANSACTION LEDGER
City of Pleasant Hill | Account #10009|10/01/2025 Through 12/31/2025| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss Maturity 12/15/2025 91282CGA3 (150,000.00)
UNITED STATES
TREASURY 4.0
12/15/2025
100.000 4.64% 150,000.00 0.00 150,000.00 1,687.50
Total Maturity (295,000.00) 295,000.00 0.00 295,000.00 3,487.83 Sale 10/16/2025 9128285N6 (25,000.00)
UNITED STATES
TREASURY 2.875
11/30/2025
99.859 3.77% 24,964.84 271.00 25,235.84 636.72
Sale 10/22/2025 907818GE2 (15,000.00) UNION PACIFIC CORP
4.75 02/21/2026 100.126 4.77% 15,018.90 120.73 15,139.63 28.80 Sale 10/22/2025 907818GE2 (15,000.00) UNION PACIFIC CORP
4.75 02/21/2026 100.023 4.77% 15,003.45 120.73 15,124.18 13.35 Sale 10/22/2025 61761J3R8 (100,000.00) MORGAN STANLEY
3.125 07/27/2026 99.329 3.09% 99,329.00 737.85 100,066.85 (2,471.00) Sale 11/05/2025 89115A2S0 (90,000.00)
TORONTO-DOMINION
BANK 5.532
07/17/2026
101.010 5.41% 90,909.00 1,493.64 92,402.64 675.30
Sale 11/07/2025 69371RS56 (50,000.00) PACCAR FINANCIAL
CORP 5.05 08/10/2026 100.740 5.07% 50,370.00 610.21 50,980.21 395.00 Sale 11/12/2025 14913UAL4 (100,000.00)
CATERPILLAR
FINANCIAL SERVICES
CORP 5.0 05/14/2027
101.655 4.95% 101,655.00 2,472.22 104,127.22 1,525.00
Total Sale (395,000.00) 397,250.19 5,826.38 403,076.57 803.17 TOTAL
DISPOSITIONS (690,000.00) 692,250.19 5,826.38 698,076.57 4,290.99 36 Item 9.7
City Council Meeting Agenda - Page 122 of 159 - Monday, April 20, 2026
IMPORTANT DISCLOSURES
2025 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.
Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.
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Fixed income investments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates.
Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.
Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest. 37 Item 9.7
City Council Meeting Agenda - Page 123 of 159 - Monday, April 20, 2026
BENCHMARK DISCLOSURES
Benchmark Disclosure
ICE BofA 1-3 Yr US Treasury Index
The ICE BofA 1-3 Year US Treasury Index tracks the performance of US dollar-denominated sovereign debt publicly issued by the US government in its domestic market. Qualifying securities must have at least one year remaining term to final maturity and less than three years remaining term to final maturity, a fixed coupon schedule, and a minimum amount outstanding of $1 billion. Qualifying securities must have at least 18 months to final maturity at the time of issuance. 38 Item 9.7
City Council Meeting Agenda - Page 124 of 159 - Monday, April 20, 2026
CITY COUNCIL STAFF REPORT
Meeting Date: April 20, 2026
TO: THE HONORABLE MAYOR AND CITY COUNCILMEMBERS
TITLE: ADOPT RESOLUTION NO. -26 AUTHORIZING THE CITY
MANAGER TO EXECUTE A CONTRACT WITH IMPERIAL
MAINTENANCE SERVICES INC.
SYNOPSIS
The City of Pleasant Hill requires janitorial services at its City facilities, including City Hall, the Police Department, the Public Services Center, and the Library.
The purpose of this item is to request City Council’s approval to authorize the City Manager to execute a General Services Agreement for janitorial services at City facilities with Imperial Maintenance Services Inc.
DISCUSSION
Background
The City has historically contracted janitorial services for all City facilities, as these services are not performed in-house. In February 2023, the City entered into a contract with Frank and Grossman Landscaping Services, Inc. (F&G) to provide janitorial services to the following City facilities: City Hall, the Police Department, the Public Services Center, and the Library.
The contract with F&G is still in effect; however, given stated upcoming cost increases, the time elapsed since the last solicitation, and strong market interest, staff determined it was in the City’s best interest to reissue a Request for Proposals (RFP) to ensure competitive pricing and evaluate all available service options.
Staff issued an RFP on February 6, 2026, which was advertised on the City’s website and through various plan rooms. A mandatory pre-proposal site walk was held on February 25, 2026, to provide interested firms with a comprehensive understanding of the City’s facilities and scope of work. The meeting was well attended with 10 firms participating.
Item 10.2
City Council Meeting Agenda - Page 125 of 159 - Monday, April 20, 2026 Proposals were due on March 9, 2026, and the City received submissions from all 10 firms that attended the site walk. Firms submitting proposals included Aim to Please Janitorial, F&G, Imperial Maintenance Services Inc., Impec Group, Karla’s Janitorial, Kleen-Tech, ML Cleaning Inc., Power Clean Carpet and Janitorial Services, Rangel Janitorial, and Universal Building Services.
Analysis
Section 5.10.090 of the City Municipal Code requires that general services exceeding $50,000 be procured through a competitive process, with award made to the firm providing the best overall value to the City. Evaluation criteria include contractor qualifications and experience; ability to meet required timelines; demonstrated performance on similar contracts; and capacity to provide ongoing services.
Due to the nature of janitorial services at City facilities, including access to secure areas at City Hall, the Police Department, the Public Services Center, and the Library, factors beyond cost are critical. These include reliability, staff vetting, and quality assurance to ensure consistent service delivery.
Following proposal evaluations, the three highest-ranked firms were invited to participate in an inperson interview at which City staff further assessed the applicants’ approach and qualifications.
Based on the results of the evaluation and interview process, Imperial Maintenance Services Inc. was identified as the highest-ranked firm.
Imperial Maintenance Services Inc. demonstrated a strong understanding of the City’s needs, provided a competitive and complete proposal, and presented a clear approach to staffing and quality control. The firm has over 40 years of janitorial experience and provides services to multiple public agencies, including the cities of Stockton, Pleasanton, Alameda, Sunnyvale, San Ramon, Milpitas, and Lodi. Staff has checked their references and determined their performance to be satisfactory. Based on these factors, staff recommends awarding the contract to Imperial Maintenance Services Inc. as the best overall value to the City.
The authorized General Fund budget for FY 2025/26 for janitorial services at City Hall, the Police Department, and the Public Services Center is $136,041; janitorial services at the Library for FY 2025/26 are funded by Measure K at a cost of $81,159. Services across the four locations equates to approximately $18,100 per month. The proposed annual cost for janitorial services under the contract with Imperial Maintenance Services Inc., including labor, materials, and consumables, is $194,400.72 ($16,200.06 per month), as detailed below:
Item 10.2
City Council Meeting Agenda - Page 126 of 159 - Monday, April 20, 2026 City Hall (3 days/week) $5,224.19 per month $62,690.28 annually Public Services Center (2
days/week)
$897.15 per month $10,765.80 annually
Police Department (3 days/ week) $3,276.76 per month $39,321.12 annually Library (6 days/ week)* $6,801.96 per month $81,623.52 annually *Service increases from 5 days/week to 6 days/week
FISCAL IMPACT
The contract will be funded through the General Fund and Measure K Fund, consistent with current funding allocations. The proposed contract represents a net annual cost savings of approximately $22,799.28 when compared to the existing contract, while maintaining or enhancing service levels across all City facilities.
PUBLIC CONTACT
Public Contact was made through posting of the City Council agenda on the City’s official notice bulletin board, at the Pleasant Hill Senior Center, and at the Pleasant Hill Police Department. The agenda and staff report are posted on the City’s web page.
RECOMMENDED CITY COUNCIL ACTION
Adopt proposed resolution.
ALTERNATIVES TO RECOMMENDED ACTION
Decline to adopt the proposed resolution and provide direction to staff.
ATTACHMENT(S)
Proposed Resolution
Exhibit 1 - Agreement
Exhibit A - Proposal
Prepared by: Kris Carr, Maintenance Superintendent
Approved by: Ann James, Public Works Director
Approved by: Ethan Bindernagel, City Manager
Item 10.2
City Council Meeting Agenda - Page 127 of 159 - Monday, April 20, 2026 RESOLUTION NO. __ -26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANT HILL
AUTHORIZING THE CITY MANAGER TO EXECUTE A CONTRACT WITH IMPERIAL MAINTENANCE SERVICES, INC.
WHEREAS, the City of Pleasant Hill (“City”) has a need for janitorial services at various City facilities; and
WHEREAS, Section 5.10.090 of the Pleasant Hill Municipal Code requires that general services, including janitorial services, be procured through a competitive process when the cost exceeds $50,000, and that award be made in connection to the bidder representing the best value to the City considering the following factors: contractor’s ability, skill; ability to perform within the time required; character, integrity, reputation, judgment, experience and efficiency; quality of contractor’s performance on previous purchases or contracts; and the ability of the contractor to provide future maintenance, repair, parts and services, if necessary; and WHEREAS, the janitorial services required by the City involve access to secure and sensitive areas, including City Hall, the Public Services Center, the Police Department, and the Pleasant Hill Library, such that factors other than price must be considered in determining best value; and
WHEREAS, City staff recommends that the janitorial services contract be awarded to the bid received from Imperial Maintenance Services Inc. (“Imperial”) on the basis of City staff’s analysis and conclusion that Imperial is the superior bidder based on, “ability, capacity or skill; ability to perform within the time required; character, integrity, reputation, judgment, experience and efficiency; quality of contractor’s performance on previous purchases or contracts, if applicable; and the ability of the contractor to provide future maintenance, repair, parts and services, if necessary”, and that such factors significantly outweigh any value of the cost savings that would be associated with the other bidders’ bids; and WHEREAS, Imperial has submitted a proposal to the Public Works Department, which is complete and acceptable.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Pleasant Hill Authorizes the City Manager to execute a General Services Agreement (Exhibit 1) with Imperial Maintenance Services Inc. for janitorial services at City Hall, the Public Services Center, the Police Department, and the Library in an amount not to exceed $194,400.72 ($16,200.06 per month), consistent with Imperial’s bid.
[Signatures on the Following Page]
Item 10.2
City Council Meeting Agenda - Page 128 of 159 - Monday, April 20, 2026 ADOPTED by the City Council of the City of Pleasant Hill at a regular meeting held on the 20th day of April, 2026, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
_______________________________
ZAC SHESS, Mayor
ATTEST:
_________________________________
LYONE P. CONNER, City Clerk
Item 10.2
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