pages: CityCouncil/2008-10-21.pdf, 11
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CityCouncil | 2008-10-21 | 11 | the 13% savings went that the City incurred as a result of the conversion from the 1079 and 1082 Plans; stated that she wants to avoid repeating past mistakes. Mayor Johnson stated actuarial numbers need to be reviewed in order to ensure that payments are adequate. Councilmember Matarrese stated dramatically increased healthcare costs and participant fluctuation need to be considered. Councilmember deHaan stated today has to be the worst of all times to pay but might be the best in terms of securing a bond. Mr. Kennedy stated markets have been frozen; IBM borrowed money at 250 basis points over Treasury, which is ridiculous. The Interim Finance Director stated that the last quarter statistics indicated that the Municipal Bond market was 25% less than demand timing is the issue; updated actuarial assumptions are needed; real numbers are needed. Councilmember Matarrese stated accurate information is needed, but he does not want the matter pushed aside. (08-452) Report on the impact of the Chuck Corica Golf Complex Fee Increases. The Interim Golf Manager gave a brief presentation. Councilmember deHaan stated rounds have increased, but cart rentals have decreased. The Interim Golf Manager stated golfers are making careful spending decisions. Mayor Johnson stated one month's data is not enough to track impacts. Jim Strehlow, Alameda, stated fewer people will play golf because of the current economic conditions; Council should not rely on short-term impacts. Jane Sullwold, Alameda Golf Commission, stated September 2008 only had four weekends and did not include Labor Day weekend, which was included in September 2007 statistics; revenue increased by approximately $24,000; the first month was a very positive experience under the new rate structure; the Interim Finance Director has been extremely helpful in providing information to the Regular Meeting 11 Alameda City Council October 21, 2008 | CityCouncil/2008-10-21.pdf |