HomeMy WebLinkAboutResolution No. 2022-C44RESOLUTION NO.2022-C44
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA
APPROVING THE ADOPTION OF THE PUBLIC AGENCIES POST -
EMPLOYMENT BENEFITS TRUST ADMINISTERED BY PUBLIC
AGENCY RETIREMENT SERVICES (PARS)
WHEREAS, PARS has made available the PARS Public Agencies Post -Employment
Benefits Trust (the "Program") for the purpose of prefunding pension obligations and/or OPEB
obligations; and
WHEREAS, the City of Azusa ("City") is eligible to participate in the Program, a tax-
exempt trust performing an essential governmental function within the meaning of Section 115
of the Internal Revenue Code, as amended, and the Regulations issued there under, and is a tax-
exempt trust under the relevant statutory provisions of the State of California; and
WHEREAS, the City's adoption and operation of the Program has no effect on any
current or former employee's entitlement to post -employment benefits; and
WHEREAS, the terms and conditions of post -employment benefit entitlement, if any,
are governed by contracts separate from and independent of the Program; and
WHEREAS, the City's funding of the Program does not, and is not intended to, create
any new vested right to any benefit nor strengthen any existing vested right; and
WHEREAS, the City reserves the right to make contributions, if any, to the Program.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Azusa,
California, does find and declare that:
1. The City Council hereby adopts the PARS Public Agencies Post -Employment
Benefits Trust, effective June 21, 2022; and
2. The City Council hereby appoints the City Manager, or his/her successor or
his/her designee as the City's Plan Administrator for the Program; and
3. The City's Plan Administrator is hereby authorized to execute the PARS legal and
administrative documents on behalf of the City and to take whatever additional actions are
necessary to maintain the City's participation in the Program and to maintain compliance of any
relevant regulation issued or as may be issued; therefore, authorizing him/her to take whatever
additional actions are required to administer the City's Program.
PASSED, APPROVED and ADOPTED this 20th day of June, 2022.
Robert GoAzales
Mayor
ATTEST:
Jef e w ce Cornejo, J .
C ty Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF AZUSA )
I HEREBY CERTIFY that the foregoing Resolution No. 2022-C44 was duly adopted
by the City Council of the City of Azusa at a regular city council meeting thereof, held on the
20th day of June, 2022 by the following vote of Council:
AYES: COUNCILMEMBERS: GONZALES, ALVARES, AVILA, MENDEZ, BECKWITH
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
J fr a nce Cornejo�d'r.
City Cler
APPROVED AS TO FORM:
1
BeA Best & Krieg , LLP
City Attorney