Laserfiche WebLink
r <br /> Council. He reviewed the process that had been undertaken to select the firm for <br /> investment advisory services that had included a review of bid packages and presentations <br /> and interviews with the finalist candidates by the Finance and Investment Committee. <br /> Councilmembers Mordo and Jones had participated in the selection process as members <br /> of the Finance and Investment Committee. <br /> MOTION SECONDED AND CARRIED: Moved by Jones, seconded by Mordo and <br /> passed unanimously to award the bid for investment services to PFM Asset Management <br /> LLC and to adopt 1) Resolution No.105-05 approving and authorizing the City Manager <br /> to Execute an Agreement with PFM Asset Management LLC for investment advisory <br /> services and to adopt 2) Resolution No. 106-05 authorizing the Town to join with other <br /> public agencies as a participant of the California Asset Management Trust and to invest in <br /> shares of the Trust and in individual portfolios. <br /> 4.5 Request for Amendment of Maximum Contribution to Employee Health <br /> Coverage Premiums <br /> Administrative Services Director Sarah Ragsdale advised Council that the item under <br /> consideration was the annual review of health insurance premiums and the establishment <br /> of a new cap that would set the maximum Town contribution towards each employee's <br /> premium for the calendar year. She reviewed the previously set caps for the years 2003- <br /> 2006, adding that the projected increase for 2005 was 15% with an actual increase of 9%. <br /> Ragsdale noted that the annual calculation of the cap was set at 110% of the average <br /> premium of health plans available to employees. <br /> Jim Abraham, resident, explained that he had requested Council review this item <br /> separately because of his concerns of escalating health benefit costs for retiring <br /> P g g <br /> employees. He believed these could potentially be very costly to the Town. <br /> Council offered that the CalPers health coverage was below the public/private aggregate, <br /> very affordable at a competitive cost and an excellent health care package. They noted <br /> that an actuarial review of employee retirement benefits was scheduled for the near <br /> future. <br /> MOTION SECONDED AND CARRIED: Moved by Mordo, seconded by O'Malley and <br /> passed unanimously to adopt Resolution-No. 107-05 "Fixing the Employer's Contribution <br /> of Health Care Premium under the Public Employees' Medical and Hospital Care Act." <br /> 5. UNFINISHED BUSINESS <br /> 5.1 Town Goals <br /> 5.1.1 Implementation of Strategic Conservation Goals <br /> Mayor Kerr reported that the Environmental Initiatives Committee had not met since the <br /> last Council meeting. <br /> 5 <br /> City Council Meeting Minutes <br /> November 17,2005 <br />