City Council

7. Consideration to Adopt a Resolution Establishing a Section 115 Trust for OPEB and Pension Liabilities and Authorize Shuster Advisory Group, LLC as the Administrator of the Section 115 Trust. (City Council) Recommendation: It is recommended that the City Council read by title only, waive further reading, and adopt Resolution No. 2023-79 titled: “A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BELL, ADOPT RESOLUTION NO. 2023-79, ESTABLISHING A SECTION 115 TRUST FOR OTHER POST-EMPLOYMENT BENEFITS (OPEB) AND PENSION LIABILITIES AND AUTHORIZE THE CITY MANAGER/FINANCE DIRECTOR TO EXECUTE WITH THE TRUST ADMINISTRATOR, CUSTODIAN, AND TRUSTEE TO CREATE A 115 TRUST ACCOUNT FOR THE FUNDING OF FUTURE OPEB AND PENSION LIABILITIES”