HomeMy WebLinkAbout4918 - Actuarial SurveytJ4:l,Cbriat.
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RESOLUTION N0, 4918
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH AUTHORIZING THE MMCUTION OF A
CONTRACT WITH COATES, HERFURTH AND ENGLAND,
CONSULTING ACTUARIES
WHEREAS., the City of Newport Beach has a contract with
the State Employees' Retirement System under which it is necessary
to have an actuarial survey periodically to establish the rate of
contributions and
tTHEREAS, the State Employees' Retirement System has
presented a contract under which Coates, Herfurth and England,
Consulting Actuaries, agree to make the necessary survey and to
determine the approximate cost to the City of amending the contract
to provide a dependent benefit upon the death of an active member
qualified to retire at a probable cost to the City of $439,908 and
WHEREAS, the City Council has reviewed the terms of the
contract and found them to be fair and equitable and in the best
interests of the City;
NOJ, THEREFORE, BE IT RESOLVED by the City Council of the
City of Newport Beach that said contrast be approved and that the
Mayor and City Clerk be authorized and directed to execute the same
on behalf of the City,
BE IT FURTHER RESOLVED that a certified copy of this
resolution be attached to each copy of the contract returned to
the State Employees' Retirement System,
This resolution was adopted by the City Council of the
City. of Newport Beach at a regular meeting on the 12th day of
Jandiaby;-1959, by the following vote, to wit-
Hart,, r AYES, COUNCILMEN- Lorenz,, Somers,,
f. Kingsley, Atkinson, Higbie, Stoddard
° 1 �
NOES.* COUNCILMEN. None
ABSENT COUNCILMEN: None
A n /i
0
-),i
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF NEWPORT BEACH )
SS
I, MARGERY SCHROUDER, City Clerk of the City of. Newport
Beach, California, do hereby certify that according to the records
of the City of Newport Beach filed and ,maintained in my office,
the foregoing Resolution No. 4918 was duly and
regularly adopted, passed, and approved by the City Council of
the City of Newport Beach, California, at a regular meeting of
said City Council held at the regular meeting place thereof, on
the 12th day of January 9 19599 by the following
vote, to wit:
AYES, COUNCILMEN: Hart, Lorenz, Somers, Kingsley,
Atkinson, Higbie, Stoddard
NOES, COUNCILMEN: None
ABSENT, COUNCILMEN :None
Dated this 19th
day of January 9 1959.
kA- an -y4iw
City Clerk and - Officio Clerk of ti'ie
City Council, City of Newport Beach,
State of California.