City Council Agenda and Packet 1982 08 03

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S 7/20/82 Page -9- POLICE PENSION - AUTHORIZE Administrator Wurl advised in several of ACTUARIAL STUDY the past audits, the auditors recommended that the City hire a firm to do an actuarial study of the Police Pension Fund as to the City's responsibilities . Mayor Meier Inquired if the study would make recommenda- tions to make this fund solvent or self- supporting; what will be the end result of the actuarial study; will it tell us if we have any liabilities? Wurl advised that it would not ; it would tell what the City's responsibilities are and what the problems are. Administrator Wurl to inform Council how this fund will be augmented. Wurl explained that our Police Dept. did not contribute to the fund and were funded wholly from the State. Eventually the State quit funding the Police Pension to the cities that were not participating and in the meantime a retiree was added to the expenditures; consequently by December 31 , 1982 the fund will be fully expended. AUTHORIZATION APPROVED Councilman Fauson moved, Councilman Ferrera seconded that Alexander & Alexander Co. be authorized to do the Police Pension actuarial study. Question called for. All in favor. Motion carried unanimously. CHEMICALS AWARD BIDS Each councilmember had a copy of the bids. Recommendation was to award bid to the lowest bidders. AUTHORIZATION APPROVED Councilman Cussen moved, Councilman Leary seconded that the low bidders be awarded the chemical bids as recommended. Question called for. All in favor. Motion carried unanimously. COAL CREEK WATER STANDARDS Administrator Wurl advised the State still has not issued our permit, but should do so this week. DRCOC will hold a meeting with the cities in the basin, in the Conference Room on Monday, July 26, 1982 and after this meeting and having received our permit a fur- ther report will be made to Council.