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~, ~ _ <br />.~ <br />,~ <br />Rt~;'C3I,IJTIUN <br />OF Tii~ CI3.'Y Cf~UY~CII <br />AU1"IiU~.IL1:Td0 .'gad Ai ~'a17td:~ TO 'Pi: u(ikdT~.C1` PT~:)iiI17.t,'3G:.~'OR Tfi~•: PAitTti:Tp~'aTT~3I~ <br />OF T~ CITY t.~' S~1.tdTA A1~A <br />I.~ `i°:°i~; ~1t1T~ JkPIljY~1:;S r !~°f:t~:,~t~l` SY~aTEC~, r~Al~T~G TTS w~UJY3~~ 1>i~~~IB~~.S <br />OF 5AxCi ~YaTiat~ <br />~iil~:EtEAS, tPie hoard of Administration of the State Rrnployees r Retirement System <br />and the City Council of the City o.t Santa Ana en'bered into a cant~ract <br />effective July 1, 19117, providing for the participation of said <br />i'ity of :~aanta Asa 3.n the State Rmployeers r Retirement Systart; and <br />Ii~i~,iti~AS~ said contract provides for the funding of than liabilities for benefits <br />based on aprior service" by annual ix~stalLnent payments by said Agency <br />extending Dues a 25 year period beginnir-g on the effective data of <br />said contract; and <br />ir~it~',itl=;A,~, the amount of said annual insta.L"l.tt~e~nt paymr~t hag been determined by <br />actuarial, r®valuation to be ntateriaily larger than pr®viausly <br />determined; and <br />t~1t1:~RtA:i, it is desirable thaub the contributions required of said Agency under <br />said ea~nti~aet not be excessive; and <br />~~~w, it is desirable to have prior service liabilities liquidated by can- <br />tributions expressed as a percents~e of member payroll instead of as <br />a level annual ammount s ~iow, therefore, be it <br />k~LV~,`fhat said Gity Conseil authorize, ar~d it does hereby authorize, an <br />amendment to said Contract, a copy of said amendment being; attached <br />hereto marked ue~hibit A,u and by such referaance made a part hereof <br />as ti~ou~;h herein set out in fully and bB it flarther <br />ii3.i~::~LVi;!?, 't'hat; thB presidia officer of saiai City Council be, and he is hereby <br />authorized, empowered, and directed to execute said amendment .for and <br />an benal,f of said City of Santa Ana. <br />Adopted this 17th~„_,day' of _ -- August ~ ~~,. <br />ri` ., <br /><Presiding Offiete~ MAXOR <br />Attestr <br />~- i <br />er o . e .ounez <br />