The City held a Community Workshop on September 30th to discuss the City’s efforts in refinancing its Unfunded Accrued Liability (UAL) with the California Public Employees’ Retirement System (CalPERS) via the issuance of Lease Revenue Bonds (LRB). The taxable municipal bond rates remain substantially lower than the 7% CalPERS is charging the City on its UAL. By refinancing its UAL, the City can realize substantial budgetary savings and better manage future pension costs.
The Community Workshop can be viewed online at www.placentia.org/lrb.