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File #: 20-0680    Version: 1 Name:
Type: Time Certain Item Status: Agenda Ready
File created: 7/29/2020 In control: Board of Directors
On agenda: 8/11/2020 Final action:
Title: Receive and Discuss Information Regarding Pension Liability and the Potential Use of Pension Obligation Bonds. (Continued from July 28, 2020)
Attachments: 1. Attachment 1: PowerPoint

BOARD AGENDA MEMORANDUM

 

 

SUBJECT:

Title

Receive and Discuss Information Regarding Pension Liability and the Potential Use of Pension Obligation Bonds.  (Continued from July 28, 2020)

 

 

End

RECOMMENDATION:

Recommendation

Receive and discuss information regarding pension liability and the potential use of pension obligation bonds and provide staff with further direction as necessary.

 

 

Body

SUMMARY:

At its regular meeting on May 12, 2020, the Board of Directors of the Santa Clara Valley Water District (Valley Water) requested staff to provide information regarding Valley Water’s pension liability and the potential use of Pension Obligation Bonds (POBs) as a mechanism to fund all or a portion of Valley Water’s unfunded accrued pension liability.  In response to the Board’s request, Finance staff, along with Valley Water’s municipal advisor (Public Resources Advisory Group) and bond counsel (Stradling Yocca Carlson & Rauth), will review and discuss information regarding pension liability and financing scenarios with the Board.

 

 

FINANCIAL IMPACT:

There is no financial impact related to this report.

 

 

CEQA:

The recommended action does not constitute a project under CEQA because it does not have a potential for resulting in direct or reasonably foreseeable indirect physical change in the environment.

 

 

ATTACHMENTS:

Attachment 1:  PowerPoint

 

 

UNCLASSIFIED MANAGER:

Manager

Darin Taylor, 408-630-3068




Notice to Public:

The Santa Clara Valley Water District publishes meeting agendas two Fridays prior to regular meetings, and publishes amended and special meeting agendas one Friday prior. During the process of amending an agenda, individual links to Board Agenda Reports may not be available. In these cases, please reference the “Full Agenda Package” instead.