RES-8216 Requesting PERS to Extend Funding Period for Current Service Actuarial LiabilitiesRESOLUTION NO. 8216
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ORANGE REQUESTING THE PUBLIC EMPLOYEES'
RETIREMENT SYSTEM TO EXTEND THE FUNDING PERIOD
FOR CURRENT SERVICE ACTUARIAL LIABILITIES
WHEREAS. the City of Orange is a contracting agency of the Public Employees'
Retirement System; and
WHEREAS. the continuing recession in Southern California and the State's taking
away millions in City property tax revenue has put a financial burden on the City of Orange;
and
WHEREAS. the City of Orange has been advised by the Contract Services Division of
the Public Employees' Retirement System that the City Council may request an extension of
the funding period for the safety category for current service actuarial liabilities to June 30.
2016;
NOW. THEREFORE. BE IT RESOLVED that the City Council of the City of Orange does
request an extension of the funding period for the safety category for current actuarial
liabilities to June 30. 2016. and further resolves to direct the Acting Director of Finance to
forward a certified copy of this resolution to the Public Employees' Retirement System.
ADOPTED this 10th day of August. 1993.
Attest:
Marilyn J. Jensen
City Clerk of the City of Orange
1dk[l~~d-
Deputy CittlClerk
I hereby certify that the foregoing Resolution was duly and regularly adopted by the
City Council of Orange at a regular meeting thereof held on the 10th day of August. 1993.
AYES:COUNCIL MEMBERS: SPURGEON, BARRERA, MAYOR BEYER, COONTZ, MURPHY
NOES:COUNCIL MEMBERS:NONE
ABSENT:COUNCIL MEMBERS:NONE
Marilyn J. Jensen
ci Clerk of the City of Orange
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