AgdaPkt 2014-01-27 Closed and Regular

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7.1.F. - Page 21 2008 2009 2014 Payment SVCW Bond SVCW Bond SVCW Bond Date Payments Payment* Payment Total 08/01/35 - 2,039,827.50 02/01/36 - 307,395.00 08/01/36 - 2,062,395.00 02/01/37 - 236,317.50 08/01/37 - 2,081,317.50 02/01/38 - 161,595.00 08/01/38 - 2,106,595.00 02/01/39 - 82,822.50 08/01/39 - 2,127,822.50 Total 9,360,901.43 81,645,614.39 * Represents allocated share of gross debt service on Series 2009 Bonds; does not include proportionate share of Refundable Credits. Pension and Other Employee Benefit Costs The City allocates a portion of its employee expenses to its sewer utility based on employees allocated to operation of the sewer utility. In fiscal year 2012-13, the City allocated 2.6% of its total employee costs to the sewer utility. Pension. A significant portion of the City's employment costs are pension and post- retirement medical benefit costs. See Note 9 of the City's June 30, 2013 audited financial report, which is attached to this Official Statement as Appendix I, for information as of June 30, 2013 related to the City's pension and post-retirement medical benefit costs. The City contributes to the California Public Employees' Retirement System ("PERS"), an agent multiple-employer public employee defined benefit pension plan. PERS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. PERS acts as a common investment and administrative agent for participating public entities within the State of California. Three-year trend information for the City's pension plan is set forth below: Three-year Trend of Annual Pension Cost Public Safety Fiscal year Annual Percentage of ended pension cost APC Net pension June 30 (APC) contributed obligations 2011 $6,379,699 100% 0 2012 7,384,820 100 0 2013 7,814,972 100 0 A-13