HomeMy WebLinkAbout06.04.21 Board Correspondence_ FW_ Pension Obligation Bond
From:Clerk of the Board
To:Alpert, Bruce;Bennett, Robin;Clerk of the Board;Connelly, Bill;Cook, Holly;Cook, Robin;Hironimus, Patrizia;Kimmelshue, Tod;Lucero, Debra;Paulsen, Shaina;Pickett, Andy;Ring, Brian;Ritter,
Tami;Rodas, Amalia;Sweeney,
Kathleen;Teeter, Doug
Subject:Board Correspondence: FW: Pension Obligation Bond
Date:Friday, June 4, 2021 1:25:18 PM
Please see Board Correspondence below pertaining to Pension Obligation Bonds.
Shaina Paulsen
Administrative Assistant, Senior
Butte County Administration
25 County Center Drive, Suite 200
Oroville, CA 95965
T: 530.552.3304 | F: 530.538.7120
From: juanita sumner <nag.mom@hotmail.com>
Sent: Friday, June 4, 2021 12:57 PM
To: Clerk of the Board <clerkoftheboard@buttecounty.net>
Subject: Pension Obligation Bond
ATTENTION: This message originated from outside Butte County. Please exercise judgment before opening attachments, clicking on links, or replying.
..
Dear Ms. Snyder,
Please forward the following to the board of supervisors and make it part of the record.
Dear Butte County Supervisors,
I saw a notice months ago that county staff, at your direction, is looking into issuing a Pension Obligation Bond. I don't know if you are still
investigating that option, but please review the forwarded email from Chico City Council member Kami Denlay regarding a "cease and desist style"
letter sent by the Howard Jarvis Taxpayers Association to the city of Chico regarding same. HJTA filed last year to stop the city of Simi Valley from
issuing a POB, as well as the city of West Covina. In the early 2000's they stopped the state of California from issuing a POB.
Ms. Denlay sent me a screen shot of the actual letter but it is not showing up. You can contact the city of Chico for more information.
If you've already dropped the idea, congratulations.
Thank you, Juanita Sumner, Chico Taxpayers Association
From: Kami Denlay <kami.denlay@Chicoca.gov>
Sent: Thursday, June 3, 2021 6:12 PM
To: Juanita Sumner <nag.mom@hotmail.com>
Subject: Re: Pension Obligation Bond question
HelloJuanita!
SinceourpreviousemailswereceivedaceaseanddesiststyleletterfromHJTA.Theyoutlinedallofthesameissuesyouhavementioned,aswellasthoseissuesIechoedat
theApril26thmeeting(violationsofStateConstitution,etc).
TheCity’smovementonthebondsisnowtemporarilyhalteduntilcouncilisbriefedonthelegalletterfromHJTA.Ilookforwardtohearinghowmycolleaguesrespond
nowthatourconcernshavebeenfurthervalidatedbythisnewHJTAaction.
Iwillattachbelowscreenshotsofthelettertheysentus.
Thankyouasalwaysforyourinvolvement!
KamiDenlay
ChicoCityCouncil,District3
kami.denlay@chicoca.gov
530.826.8890
From: juanita sumner <nag.mom@hotmail.com>
Sent: Tuesday, June 1, 2021 11:27:17 AM
To: Kami Denlay <kami.denlay@Chicoca.gov>
Subject: Re: Pension Obligation Bond question
ATTENTION:Thismessageoriginatedfromoutside City of Chico.Pleaseexercisejudgmentbeforeopeningattachments,clickingonlinks,orreplying.
..
Thanks Kami,
I have also contacted HJTA and will keep you posted as to any response from them.
Juanita Sumner
From: Kami Denlay <kami.denlay@Chicoca.gov>
Sent: Tuesday, June 1, 2021 10:31 AM
To: Juanita Sumner <nag.mom@hotmail.com>
Subject: Re: Pension Obligation Bond question
Iwilldoublecheckthedetailsforyouthisevening.
WhenIpreviouslyaskedaboutthisIwastoldthatlegalcounselwastakingittocourttocheckourlegalabilitytopursuethebond.Ididnotreceivealotofdetail,soIwillbe
happytofollowupandletyouknowwhatinformationIget.
Haveagoodday!
KamiDenlay
ChicoCityCouncil,District3
kami.denlay@chicoca.gov
530.826.8890
From: juanita sumner <nag.mom@hotmail.com>
Sent: Tuesday, June 1, 2021 10:01:00 AM
To: Kami Denlay <kami.denlay@Chicoca.gov>
Subject: Pension Obligation Bond question
ATTENTION:Thismessageoriginatedfromoutside City of Chico.Pleaseexercisejudgmentbeforeopeningattachments,clickingonlinks,orreplying.
..
Hi Kami,
I have a question about the POB - has council directed staff to seek judicial approval of the POB, and if so, what court would they approach? In
Simi Valley it was the County Superior Court.
Thank you for your anticipated cooperation.
Juanita Sumner
From: juanita sumner
Sent: Sunday, May 30, 2021 2:03 PM
To: Kami Denlay <kami.denlay@Chicoca.gov>
Subject: Pension Obligation Bond
Hi Kami,
I wanted to share some articles with you about the legality of implementing a Pension Obligation Bond without voter approval.
The city of Simi Valley was sued last year by the Ventura County Taxpayers Association and Howard Jarvis Taxpayers Association for implementing
a POB without voter approval. After consideration of the law, Simi Valley rescinded their POB. I don't know if they plan to move forward with a
ballot measure, or how much money they wasted going to court, but I think this should be part of the conversation.
From the HJTA website - “The Simi Valley City Council voted 5-0 on April 6, 2020, to rescind a December 2019 resolution authorizing a $150 million
pension obligation bond and future similar bonds, thanking the Ventura County Taxpayers Association for working with the City in avoiding what
could have been a lengthy battle over legally questionable bonds. The rescission was part of a settlement agreement with the VCTA and the
Howard Jarvis Taxpayers Association.“
HJTA also stopped the state of California from issuing POB's back in the early 2000's. I don't know of Mr. Orme or Mr. Dowell are aware of these
cases. Here are links to more information - thanks for your time, Juanita Sumner
https://www.vcta.org/achievements
Our Mission - VCTA
The Ventura County Taxpayers’ Association is a non-partisan VCTA is a
501(c) (4) organization emphasizing issues that affect Ventura County.
www.vcta.org
Bonds are a risky way to deal with pension woes
Bonds are a risky way to deal with pension woes - Howard
Jarvis Taxpayers Association
Recently, this column exposed the foolishness of two proposed statewide bond
measures: A $15 billion school bond, which will be on the March 3 ballot, as well as a
“climate resiliency” bond. Both are horribly flawed for several reasons, not the least of
which that it makes no sense for California to go further into \[…\]
www.hjta.org