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The Finance and Investment Committee was unanimously in favor of placing <br />$200,000 in to OPEB. <br />MOTION MADE AND SECONDED: Moved by Council Member Larsen, for the <br />OPEB (Other Post -Employment Benefits) the Town shall pay the out-of-pocket and <br />make the full ARC (Annual Required Contribution) to the CalPERS fund; staff shall <br />also work with the Finance and Investment Committee to clarify how it should be <br />accounted. The motion was seconded by Council Member Waldeck. <br />Motion Carried 5 to 0: <br />AYES: Mayor Radford Vice Mayor Corrigan, Council Member <br />HgMootlianCouncil Member Waldeck Council Member <br />T,ar-,en <br />NOES: None <br />ABSENT: None <br />ABSTAIN: None <br />Mayor Radford provided closing comments. <br />2. ADJOURNMENT OF THE SPECIAL JOINT MEETING OF THE CITY COUNCIL <br />AND FINANCE AND INVESTMENT COMMITTEE <br />The meeting adjourned at 8:02 p.m. <br />Respectfully submitted, <br />DeboraJv <br />Deborah Padovan <br />City Clerk <br />The minutes of the June 2, 2014 special joint City Council and Finance Investment Committee <br />were approved as presented at the June 19, 2014 regular City Council meeting. <br />Special Joint Meeting Minutes of the <br />Town of Los Altos Hills City Council and <br />Finance and Investment Committee <br />June 2, 2014 <br />