Vote — approved

Steve Gallardo	abstain
Bill Gates	abstain
Clint Hickman	abstain
Gallardo School Superintendent	yes
and Clint Hickman	yes
Denny Barney	abstain
Steve Chucri	yes

43.HALL/PARKER POST-INTEREST PAYMENTApprove payment of post-interest in the Hall/Parker court decision in an amount not to exceed $50,000 and also approve the following adjustments for use of contingency dollars:a) Decrease the expenditure budget for Non Departmental (D470) General Fund (100) Non Recurring Non Project (NRNP) in the line "Unreserved Contingency" (4711) in an amount not to exceed $50,000.b) Increase the expenditure budget in the Non Departmental (D470) General Fund (100) Non Recur

Item Text

43. HALL/PARKER POST-INTEREST PAYMENT Approve payment of post-interest in the Hall/Parker court decision in an amount not to exceed $50,000 and also approve the following adjustments for use of contingency dollars: a) Decrease the expenditure budget for Non Departmental (D470) General Fund (100) Non Recurring Non Project (NRNP) in the line "Unreserved Contingency" (4711) in an amount not to exceed $50,000. b) Increase the expenditure budget in the Non Departmental (D470) General Fund (100) Non Recurring Non Project (NRNP) in the line "Hall/Parker" (4712) by an amount not to exceed $50,000. On November 21, 2017 the courts determined that the interest for PSPRS would be 5.25% from the date each contribution was withheld to the date excess contributions were returned. The interest was broken into two segments for the interest earned prior to the final court decision and the “post-interest” earned after the court decision until the actual payment was made. The county is responsible for the post-interest payments. This agenda will cover approximately $5,000 in post interest for the Parker case and approximately $45,000 in post interest for the Hall case. (C-49-18-020-2-00)