Laserfiche WebLink
Authorizing Pension Obligation Bonds <br />CONCLUSION <br />September 19, 2011 <br />The Finance Committee recommends that the City Council authorize issuance of pension <br />obligation bonds and filing the required validation actions to refinance the outstanding Ca1PERS <br />side letter fund obligations of the City. The bond transaction would refinance the existing side <br />fund obligation over the same term in the same amount, plus issuance costs, and take advantage <br />of lower bond interest rates. The validation action is required whereby the Alameda County <br />Superior Court determines the validity of this pension obligation. <br />4 <br />