LAKE COUNTY, Calif. – The Lakeport City Council this week will meet the new fire chief and consider moving forward with pension obligation bonds to deal with unfunded liabilities.
The council will meet in closed session at 5:15 p.m. to discuss labor negotiations before the public portion of the meeting begins at 6 p.m. Tuesday, May 18.
The agenda can be found here.
To speak on an agenda item, access the meeting remotely here or join by phone by calling toll-free 669-900-9128 or 346-248-7799. The webinar ID is 973 6820 1787, access code is 477973; the audio pin will be shown after joining the webinar. Those phoning in without using the web link will be in “listen mode” only and will not be able to participate or comment.
Comments can be submitted by email to This email address is being protected from spambots. You need JavaScript enabled to view it.. To give the City Clerk adequate time to print out comments for consideration at the meeting, please submit written comments prior to 3:30 p.m. on Tuesday, May 18.
Indicate in the email subject line "for public comment" and list the item number of the agenda item that is the topic of the comment. Comments that read to the council will be subject to the three minute time limitation (approximately 350 words). Written comments that are only to be provided to the council and not read at the meeting will be distributed to the council prior to the meeting.
On Tuesday, the council will present proclamations designating the week of May 22 through 28 as Safe Boating Week and the month of May as California Tourism Month.
The Lake County Tourism Improvement District Board also will give the council an update.
The council also will get a formal introduction to new Lakeport Fire Protection District Fire Chief Jeffery Thomas, who started work with the district at the start of April.
On Tuesday, Police Chief Brad Rasmussen will present the Illegal Fireworks Operation Plan for the 30-day period — June 17 through July 16 — surrounding July 4.
Finance Director Nick Walker will present staff’s recommendation to adopt a proposed resolution which would approve the future issuance of one or more series of pension obligation bonds, approve a form of indenture of trust pursuant to which the bonds would be issued and authorize the commencement of a judicial validation action related to the issuance of pension obligation bonds.
“If the resolution is adopted, City staff would return to the City Council for a future approval of the final terms of any series of bonds, following the conclusion of the validation action, and prior to actual issuance,” Walker said in his written report.
Walker said the city’s unfunded accrued liability for its CalPERS Miscellaneous and Safety Plans has grown 22%, from $6.9 million to about $8.4 million.
That unfunded accrued liability represents the shortfall or gap between what is needed to pay retiree benefits versus how much in current assets the city actually has in its accounts with CalPERS, Walker said.
Walker explained that, combined with remaining principal on the lease agreement with Umpqua Bank that the city entered into in 2015 to restructure a portion of its then-existing unfunded accrued liability, the city has about $10.4 million in pension liability on its balance sheet.
He said Mayor Kenny Parlet is also being asked to appoint two council members to a Unfunded Accrued Liability Policy and Restructuring Ad Hoc Committee for policy recommendations and evaluating restructuring options.
On the consent agenda – items considered noncontroversial and usually accepted as a slate on one vote – are ordinances, minutes of the regular council meeting on May 4; the May 10 warrant register; approval of event application 2021-006, with staff recommendations, for the 2021 Old Time Machines Car Show on Aug. 14; approval of event application 2021-009, with staff recommendations, for the Lakeport Inside Out events to be held on the second Thursday of each month through Oct. 14; approval of event application 2021-010, with staff recommendations, for the 2021 Fourth of July Arts & Crafts Fair on July 4, 2021; approval of event application 2021-011, with staff recommendations, for the 2021 Taste of Lake County event on Aug. 28; approval of event application 2021-012, with staff recommendations, for the 2021 Pumpkin and Dia de los Muertos Festival on Oct. 2; approval of event application 2021-013, with staff recommendations, for the 2021 Trick or Treat Main Street event on Oct. 29; Approval of event application 2021-014, with staff recommendations, for the 2021 Dickens’ Faire on Nov. 27, 2021; review and filing of the draft minutes of the Measure Z Advisory Committee meeting of April 21; and rejection of all bids for the standby water generator procurement because doing so best serves the interests of the city.
Email Elizabeth Larson at This email address is being protected from spambots. You need JavaScript enabled to view it.. Follow her on Twitter, @ERLarson, or Lake County News, @LakeCoNews.
Lakeport City Council to meet new fire chief, consider pension obligation bonds
- Elizabeth Larson
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