RES 18-1005 - Laserfiche WebLink

RESOLUTION NO. 18-1005 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON APPROVING THE ADOPTION OF THE PUBLIC AGENCIES POST-EMPLOYMENT BENEFITS TRUST ADMINISTERED BY PUBLIC AGENCY RETIREMENT SERVICES (PARS) WHEREAS, PARS has made available the PARS Public Agencies Post-Employment Benefits Trust (the "Program") for the purpose of pre-funding pension obligations and/or OPEB obligations; and WHEREAS, the City of Pleasanton ("City") is eligible to participate in the Program, a tax-exempt trust performing an essential governmental function within the meaning of Section 115 of the Internal Revenue Code, as amended, and the Regulations issued there under, and is a tax-exempt trust under the relevant statutory provisions of the State of California; and WHEREAS, the City's adoption and operation of the Program has no effect on any current or former employee's entitlement to post-employment benefits; and WHEREAS, the terms and conditions of post-employment benefit entitlement, if any, are governed by contracts separate from and independent of the Program; and WHEREAS, the City's funding of the Program does not, and is not intended to, create any new vested right to any benefit nor strengthen any existing vested right; and WHEREAS, the City reserves the right to make contributions, if any, to the Program. NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: SECTION 1. The City Council hereby adopts the PARS Public Agencies Post-Employment Benefits Trust, effective March 7, 2018. SECTION 2. The City Council hereby appoints the Director of Finance, or his/her successor, as the City's Plan Administrator for the Program. SECTION 3. The City's Plan Administrator is hereby authorized to execute the PARS legal and administrative documents on behalf of the City and to take whatever additional actions are necessary to maintain the City's participation in the Program and to maintain compliance of any relevant regulation issued or as may be issued; therefore, authorizing him/her to take whatever additional actions are required to administer the City's Program. PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at a regular meeting held on March 6, 2018. I, Karen Diaz, City Clerk of the City of Pleasanton, California, certify that the foregoing resolution was adopted by the City Council at a regular meeting held on the 6th day of March 2018, by the following vote: Ayes: Councilmembers Brown, Narum, Pentin, Vice Mayor Olson Noes: None Absent: Mayor Thorne Abstain: None