RESOLUTION NO. _____________
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE ESTERO MUNICIPAL
IMPROVEMENT DISTRICT APPROVING A SUPPLEMENTAL APPROPRIATION OF $1,541,000 FOR AN ADDITIONAL DISCRETIONARY PAYMENT TO CALPERS FOR THE PARTIAL PAYDOWN OF THE DISTRICT’S UNFUNDED ACCRUED LIABILITY
ESTERO MUNICIPAL IMPROVEMENT DISTRICT
WHEREAS, the Estero Municipal Improvement District has a CalPERS Unfunded Accrued Liability (UAL) of approximately $101.0 million and 70.1% pension funded percentage as of the June 30, 2024 valuation date; and
WHEREAS, the Board of Directors desire to reduce its CalPERS UAL by $20.0 million by making an Additional Discretionary Payment to improve its pension funded percentage; and
WHEREAS, using the percentages which apply the annually recurring pension costs allocated to the Water and Wastewater Enterprises, the respective allocations of the $20.0 million payment are $687,000 and $854,000.
NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of the Estero Municipal Improvement District does hereby authorize an appropriation of (a) $687,000 from the Water Enterprise Fund and (b) $854,000 from the Wastewater Enterprise Fund, totaling $1,541,000, for an Additional Discretionary Payment to CalPERS.
PASSED AND ADOPTED as a resolution of the Board of Directors of the Estero Municipal Improvement District at the Regular Meeting held on the 16th day of March, 2026 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
________________________________________
ART KIESEL, PRESIDENT
ATTEST:
_______________________________________
PRISCILLA SCHAUS, DISTRICT SECRETARY