CC RESOLUTION 3757RESOLUTION NO. 3757
A RESOLUTION OF INTENTION TO APPROVE AN AMEND-
MENT TO CONTRACT BETWEEN THE BOARD OF ADMINIS-
TRATION OF THE PUBLIC EMPLOYEES' RETIREMENT
SYSTEM AND THE CITY COUNCIL OF THE CITY OF EL
SEGUNDO.
WHEREAS, the Public Employees' Retirement Law permits the
participation of public agencies and their employees in the Public
Employees' Retirement System by the execution of a contract, and
sets forth the procedure by which said public agencies may elect
to subject themselves and their employees to amendments to said
Law; and
WHEREAS, one of the steps in the procedures to amend this con-
tract is the adoption by the governing body of the public agency
of a resolution giving notice of its intention to approve an
amendment to said contract, which resolution shall contain a
summary of the change proposed in said contract; and
WHEREAS, the following is a statement of the proposed change:
To provide 20 @ 50 Full formula (from 20 @
is55 Full formula) for local police members
only, including an extension of the funding
period to the year 2011.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF EL SEGUNDO
DOES HEREBY FIND, DETERMINE AND RESOLVE AS FOLLOWS:
SECTION 1. That the City Council does hereby give notice of
intention to approve an amendment to the contract between the said
governing body and the Board of Administration of.the Public
Employees' Retirement System, a copy of said amendment being attach-
ed hereto, as an "Exhibit" and by this reference made a part hereof.
PASSED AND ADOPTED this 7th day
E1 Segundo
0
CERTIFICATION OF COMPLIANCE WITH
GOVERNMENT CODE SECTION 7507
I hereby certify that in accordance with Section 7507 of the
Government Code the future annual costs as determined by the
System Actuary and /or the increase in.retirement benefit(s) have
been made public at a public meeting by the City Council of the
City of El Segundo at least two weeks prior to the adoption of
the final Ordinance.
Date: r
City C "kat- City of
a
CERTIFICATION OF CITY COUNCIL'S ACTION
I hereby certify that the foregoing is a true and correct
copy of a Resolution adopted by the City Council, of the City
of E1 Segundo, on April 7, 1992.
city Clerk of the City o
E1 Segundo
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES ] SS
CITY OF EL SEGUNDO
I, Cindy Mortesen, City Clerk of the City of El Segundo, California, DO
HEREBY CERTIFY that the whole number of members of the City Council of
the said City is five; that the foregoing resolution, being RESOLUTION NO.
3757 was duly passed and adopted by the said City Council, approved and
signed by the Mayor or said City, and attested by the City Clerk of said City,
all at a regular meeting of the said Council held on the 7th day of April,
1992, and the same was so passed and adopted by the following vote:
AYES: Mayor Jacobson, Mayor ProTem Dannen, and
Councilmembers Cruikshank, West, and Wise.
NOES: None
ABTENTIONS: None
WITNESS MY HAND THE OFFICIAL SEAL OF SAID CITY this 28th day
of April, 1992.
fe
INDY R W40"
t-/
City Clerk of the
City of El Segundo, California
(SEAL)