HomeMy WebLinkAboutCity Council - 2016-24 RESOLUTION NO 2016-24
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF IIUNTINGTON BEACH 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
The City of Huntington Beach(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 thereunder, and is a tax-
exempt trust under the relevant statutory provisions of the State of California, and
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
The teams and conditions of post-employment benefit entitlement, if any, are governed by
contracts separate from, and independent of, the Program; and
The City's funding of the Program does not, and is not intended to, create any new vested
fight to any benefit nor strengthen any existing vested right; and
The City reserves the right to make contributions, if any, to the Program,
NOW, THEREFORE, the City Council of the City of Huntington Beach does hereby
resolve as follows•
1. The City Councfj hereby adopts the PARS Public Agencies Post-Employment
Benefits Trust, effective May 2, 2016 , and
2 The City Council hereby appoints the City Managei, of his/hei successor of
his/her designee as the City's Plan Admimstiatoi for the Program, and
3 The City's Plan Administrator is hereby authorized to execute the PARS legal and
administrative documents on behalf of the City, to take whatever additional
actions are necessary to maintain the City's participation in the Program, to
maintain compliance of any relevant regulation issued or as may be issued, and
authorizing him/her to take whatever additional actions are fequifed to administer
the City's Program.
16-5186/134302 1
RESOLUTION NO 2016-24
PASSED AND ADOPTED by the City Council of the City of Huntington Beach at a
regular meeting thereof held on the 2nd day of May 20 16
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16-5186/134302 2
Res. No. 2016-24
STATE OF CALIFORNIA
COUNTY OF ORANGE ) ss:
CITY OF HUNTINGTON BEACH j
I, JOAN L FLYNN the duly elected, qualified City Clerk of the City of
Huntington Beach, and ex-officio Clerk of the City Council of said City, do hereby
certify that the whole number of members of the City Council of the City of
Huntington Beach is seven, that the foregoing resolution was passed and adopted
by the affirmative vote of at least a majority of all the members of said City Council
at a Regular meeting thereof held on May 2, 2016 by the following vote
AYES: Posey, O'Connell, Sullivan, Katapodis, Hardy, Delgleize, Peterson
NOES: None
ABSENT: None
ABSTAIN: None
y
City fflerk and ex-officio Clerk of the
City Council of the City of
Huntington Beach, California