Resolution No. 260315 F3
RESOLUTION NO. 2603
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CYPRESS REQUESTING THE STATE OF CALIFORNIA
PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO EXTEND
THE FUNDING PERIOD FOR CURRENT SERVICE AND DEATH
BENEFITS ACTUARIAL LIABILITIES FOR THE CITY OF
CYPRESS.
WHEREAS, the City of Cypress is a contracting agency of the State of
California Public Employees' Retirement System; and,
WHEREAS, the City of Cypress is experiencing financial difficulties
due to State cutbacks in aid to cities; and,
WHEREAS, the City of Cypress has been advised by the Actuarial Office
of the Public Employees' Retirement System that the City may request the
extension of its funding period for current service and death benefits
actuarial liabilities to June 30, 2011, under the terms of the contract
with the Public Employees' Retirement System.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of
Cypress does request the extension of the funding period for the current
service and death benefits actuarial liabilities to June 30, 2011, under
said agreement and further resolves to direct the City Clerk to forward two
certified copies of this resolution to the Public Employees' Retirement
System.
PASSED AND ADOPTED by the City Council of the City of Cypress at a
regular meeting held on the 10th day of January 1983.
//
ATTEST:
CITY CLERK OF TH(CITY IF CYPRESS
STATE OF CALIFORNIA)
COUNTY OF ORANGE )
5S
I, DARRELL ESSEX, City Clerk of the City of Cypress, DO HEREBY CERTIFY
that the foregoing Resolution was duly adopted at a regular meeting of said
City Council held on the 10th day of January 1983, by the following roll call
vote:
AYES: 4 COUNCIL MEMBERS: Kanel, Mullen, Partin, and Lacayo
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 1 COUNCIL MEMBERS: Coronado
CITY CLERK OF THE, ITY OF CYPRESS