CITY OF ALAMEDA RESOLUTION NO. ____
RESCINDING RESOLUTION NO. 15829 WHICH AUTHORIZED THE
ISSUANCE OF ONE OR MORE SERIES OF PENSION OBLIGATION
BONDS TO REFINANCE OUTSTANDING OBLIGATIONS OF THE
CITY TO THE CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT
SYSTEM AND RELATED MATTERS
RESOLVED, by the City Council (the “Council”) of the City of Alameda (the “City”), as follows:
WHEREAS, the City is a contracting member of the California Public Employees’ Retirement System (“PERS”), and as such the City is obligated by Sections 20000 et seq. of the California Government Code, to make payments to PERS relating to pension benefits accruing to current and former City employees who are PERS members, including retired employees (the “PERS Obligations”); and
WHEREAS, pursuant to Resolution No. 15829 adopted by the Council on October 19, 2021 (the “Prior Resolution”) , the Council authorized the issuance of one or more series of pension obligation bonds of the Cit y from time to time for the purpose of refinancing the PERS Obligations in whole or in part, and the filing of a judicial validation action in the Superior Court of California for the County of Alameda related thereto; and
WHEREAS, the City Attorney, working with special counsel to the City, has moved to dismiss the judicial validation action.
NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows:
Section 1. Rescission of Prior Resolution . The Council hereby rescinds, in full, the Prior Resolution. The authorities granted in the Prior Resolution shall no longer be effective, from and after the date of approval and adoption of this Resolution.
Section 2. Official Actions. The City Manager, the City Attorney (working with special counsel chosen at the City Attorney’s discretion), and any and all other officers of the City are hereby authorized and directed, for and in the name and on behalf of the City, to execute such documents and to take such actions, which they, or any of them, may deem necessary or advisable to effectuate this Resolution. Whenever in this Resolution any officer of the City is directed to execute any document or take any action, such execution or action may be taken on behalf of such offi cer by any person designated by such officer to act on his or her behalf in the case such officer is absent or unavailable.
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I, the undersigned City Clerk of the City of Alameda, hereby certify that the foregoing is a full, true and correct copy of a resolution duly adopted by the City Council of the City, at a meeting thereof on the 15th day of February 2022, by the following vote of the members thereof:
AYES:
NOES:
ABSENT:
ABSTENTIONS:
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of said City this 16th day of February 2022.
Lara Weisiger, City Clerk
City of Alameda
APPROVED AS TO FORM:
Yibin Shen, City Attorney
City of Alameda