HomeMy WebLinkAboutR-11363 delegating the authority to request disbursements from the California Employers’ Pension Prefunding TrustR 11363
RESOLUTION NO. 11363 (2022 SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, DELEGATING THE AUTHORITY TO REQUEST
DISBURSEMENTS FROM THE CALIFORNIA EMPLOYERS’ PENSION
PREFUNDING TRUST (CEPPT)
WHEREAS, on September 20, 2022, the City Council approved the formation of a
Section 115 Trust fund for pension obligations with the California Employers’ Pension
Prefunding Trust (CEPPT); and
WHEREAS, the funding deposited can only be used to pay for pension obligations
and will be used strategically to pay off the City’s pension cost and unfunded liability; and
WHEREAS, in order to request disbursement of the funds in the Trust and certify
the purpose for which the disbursed funds will be used, the City Council has to delegate
authority to certain staff via a Council Resolution.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of San Luis
Obispo as follows:
DocuSign Envelope ID: 710B84D5-FDCD-42BC-ACAD-AC773F7935AA
Resolution No. 11363 (2022 Series) Page 2
R 11363
SECTION 1. Authority to request, on behalf of the City of San Luis Obispo
(employer), disbursement from the Pension Prefunding Trust and to certify as to the
purpose for which the disbursed funds will be used, is delegated to the incumbents in the
position of:
– City Manager
– Director of Finance
– Accounting Manager/Controller
Upon motion of Council Member Pease, seconded by Council Member Marx, and
on the following roll call vote:
AYES: Council Member Marx, Pease, Shoresman, Vice Mayor
Christianson, and Mayor Stewart
NOES: None
ABSENT: None
The foregoing resolution was adopted this 20th day of September 2022.
___________________________
Mayor Erica A. Stewart
ATTEST:
__________________________
Teresa Purrington
City Clerk
APPROVED AS TO FORM:
_________________________
J. Christine Dietrick
City Attorney
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of San Luis Obispo, California, on ______________________.
___________________________
Teresa Purrington
City Clerk
DocuSign Envelope ID: 710B84D5-FDCD-42BC-ACAD-AC773F7935AA
9/26/2022 | 11:22 AM PDT