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City of San Leandro <br />Meeting Date: June 7, 2021 <br />Resolution - Council <br />Agenda Section:File Number:21-361 ACTION ITEMS <br />Agenda Number: <br />TO:City Council <br />FROM:Fran Robustelli <br />City Manager <br />BY:Susan Hsieh <br />Finance Director <br />FINANCE REVIEW:Not Applicable <br />TITLE:RESOLUTION of the City of San Leandro City Council Adopting the Investment <br />Guidelines for the City’s Section 115 Pension Trust, Authorizing the Transfer of <br />$750,000 to PARS to Establish the Pension Trust, and Appropriating the <br />$750,000 OPEB Allocation in the Self Insurance Fund (Fund 689) from Fiscal <br />Year 2020-2021 to the Fiscal Year 2021-2022 Budget <br />WHEREAS, the City of San Leandro (the “City”) is currently participating in the Public <br />Agencies Post-Retirement Health Care Plan Trust for the pre-funding of its retiree health benefits <br />and other post-employment benefits other than pension benefits (“OPEB”); and <br />WHEREAS, the City desires to set aside funds for the purpose of pre-funding its CalPERS <br />pension obligation that will be held in trust for the exclusive purpose of making future contributions <br />of the City’s required pension contributions and any employer contributions in excess of such <br />required contributions at the discretion of the City; and <br />WHEREAS, PARS has made available the Public Agencies Post-Employment Benefits <br />Trust (the “Program”) for the purpose of pre-funding both pension obligations and/or OPEB <br />obligations as specified in the City’s plans, policies and/or applicable collective bargaining <br />agreements; and <br />WHEREAS, the City is eligible to participate in the Program, a tax-exempt trust performing <br />an essential governmental function within the meaning of Section 115 of the Internal Revenue <br />Code, as amended, and the Regulations issued there under, and is a tax-exempt trust under the <br />relevant statutory provisions of the State of California. <br />NOW, THEREFORE, the City of San Leandro City Council RESOLVES as follows: <br />1. The City Council hereby adopts the Investment Guidelines for the City’s Section 115 Pension <br />Trust; and <br />2. The City Council hereby authorizes the transfer of $750,000 to PARS to establish the pension <br />trust; and <br />3. The City Council hereby appropriates the $750,000 OPEB allocation in the Self Insurance Fund <br />(Fund 689) from Fiscal Year 2020-2021 to the Fiscal Year 2021-2022 Budget. <br />Page 1 City of San Leandro Printed on 6/4/2021 <br />202