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11/16/2017
LOSALTOSHILLS
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11/16/2017
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Minutes
Date
11/16/2017
Description
Regular Meeting Minutes
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<br /> <br /> <br /> <br />12 <br />Regular City Council Meeting Minutes <br />November 16, 2017 <br /> <br />Council discussion ensued. <br /> <br />MOTION MADE AND SECONDED: Mayor Waldeck moved to approve <br />pension liability prepayment to be paid to CalPERS of $1,223,199; Establish <br />Section 115 Pension Trust to be administered by PARS (Public Agency Retirement <br />Services) and initially funded with $500,000; Disbursement of funds to be <br />authorized by Council after approval by Council of: 1) PARS management <br />agreement, 2) Investment Policy statement for Section 115 Trust funds; 3) <br />Investment strategy to be applied to $500,000 initial investment; and 4) Payment <br />authorization letter in a form requested by CalPERS. The motion was seconded by <br />Vice Mayor Radford. <br /> <br />Motion Carried 5 to 0: <br /> <br />AYES: Mayor Waldeck, Vice Mayor Radford, Councilmember Corrigan, <br />Councilmember Spreen, Councilmember Wu <br /> <br />NOES: None <br /> <br />ABSENT: None <br /> <br />ABSTAIN: None <br /> <br />9. STAFF REPORTS <br /> <br />A. City Manager – No report. <br /> <br />MOTION MADE AND SECONDED: Vice Mayor Radford moved to extend the meeting past <br />10:00 p.m. The motion was seconded by Councilmember Spreen. <br /> <br />Motion Carried 5 to 0: <br /> <br />AYES: Mayor Waldeck, Vice Mayor Radford, Councilmember Corrigan, <br />Councilmember Spreen, Councilmember Wu <br /> <br />NOES: None <br /> <br />ABSENT: None <br /> <br />ABSTAIN: None <br /> <br /> <br />C. City Clerk – No report. <br />
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