HomeMy WebLinkAboutMINUTES - 07311990 - 1.44 1-®44 �vl
TO: . BOARD,OF SUPERVISORS
FROM ,Phil Batchelor, County Administrator Con����tr�
Costa
DATE: July 24, 1990 CW*
SUBJECT: RETIREMENT CONTRIBUTION AGREEMENT RELATED
TO 1990-91 BORROWING PROGRAM
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND %JUSTIFICATION
RECOMMENDATION:
Approve the attached agreement between the County and the Retirement Board, which
accomplishes a payment of the County's retirement contribution for 1990-91, and
authorize the Auditor-Controller or Treasurer-Tax Collector to fill in the final
amount, not to exceed $27.0 million.
FINANCIAL IMPACT:
The money to be paid is part of the County's yearly Borrowing Program. Interest earnings
will occur on the funds, resulting, in effect, in a reduction in the total retirement
contribution made by the County. ,
Since the actual amount of the payment will not be known until the interest rates are
firmly established later in the month, the Auditor or Treasurer should be authorized
to fill in the appropriate amount, not to exceed the total expected payment of about
$27.0 million.
CONTINUED ON ATTACHMENT: YES SIGNATURE;C'
,
RECOMMENDATION OF COUNTY� ADMINISTRATOR RECOMMENDATION OF BOARD COMM14DEE
APPROVE OTHER -
SIGNATURE S : _
ACTION OF BOARD ON A"PROVED AS RECOM"FNDED OTHER
VOTE OF SUPERVISORS
. I HEREBY CERTIFY THAT THIS IS A TRUE
X UNANIMOUS (ABSENT _ ) AND CORRECT COPY OF AN ACTION TAKEN
AYES,_,: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: - ABSTAIN:. OF SUPERVISORS ON THE DATE SHOWN.
County Administrator ATTESTED JUL 3 1 1990
cc: Auditor-Controller
Treasurer-Tax Collector PHIL BATCHELOR, CLERK OF THE BOARD OF
Retirement Administrator SUPERVISORS AND COUNTY ADMINISTRATOR
BY DEPUTY
M382/7-83 —