pages: OaklandCityCouncilandtheYouthAdvisoryCommission/2012-06-28.pdf, 3
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OaklandCityCouncilandtheYouthAdvisoryCommission | 2012-06-28 | * Special Meeting of the Oakland Meeting Minutes June 28, 2012 City Council 8 NUMBER NOT USED 9 Subject: Sale Of Pension Obligation Bonds From: Finance And Management Agency Recommendation: Adopt The Following Pieces Of Legislation: 1) An Ordinance Authorizing The Issuance And Sale Of City Of Oakland, California Taxable Pension Obligation Bonds, Series 2012 For The City Of Oakland Police And Fire Retirement System (PFRS) And Approving Certain Related Matters; And [TITLE CHANGE] 11-0431 A motion was made by Councilmember Brooks, seconded by Vice Mayor Nadel, that this matter be Approved for Final Passage as amended The motion carried by the following vote: Votes: No; 2 - President Pro Tempore De La Fuente and Councilmember Schaaf Aye; 6 - Councilmember Brunner, Councilmember Kaplan, President Reid, Councilmember Brooks, Vice Mayor Nadel and Councilmember Kernighan Council approved the ordinance with the following requirement: The City will commit to reserving the first two years of. future savings from the retirement of the Convention Center debt in 2014 (approximately $10 million annually) to a reserve fund for unfunded liablilites of any retirement/pension obligation starting payments in Fiscal year 15-16. Staff is directed to return with a resolution to approve this act. View Report.pdt View Supplemental Report.pdf View Report.pdf View Supplemental Report.pdf 13128 CMS.pdf Continuation of Open Forum Adjournment Americans With Disabilities Act If you need special assistance to participate in Oakland City Council and Committee meetings please contact the Office of the City Clerk. When possible, please notify the City Clerk 48 hours prior to the meeting so we can make reasonable arrangements to ensure accessibility. Also, in compliance with Oakland's policy for people with environmental illness or multiple chemical sensitivities, please refrain from wearing strongly scented products to meetings. Office of the City Clerk - Agenda Management Unit Phone: (510) 238-3226 Fax: (510) 238-6699 Recorded Agenda: (510) 238-2386 Telecommunications Display Device: (510) 839-6451 TTD City of Oakland Page 3 Printed on 7/20/12 | 3 | OaklandCityCouncilandtheYouthAdvisoryCommission/2012-06-28.pdf |