Council will consider bonds to offset PERS

By Terry Murry on Monday, February 14th, 2022 in Columbia Basin News More Top Stories

HERMISTON – The Hermiston City Council has a work session today (Monday) at 6 p.m. followed by a meeting at 7 p.m. At the work session, the city’s financial advisors will present information regarding the purchase of bonds to help meet Hermiston’s future obligations to the Public Employees Retirement System.

The topic is also on the agenda for the regular meeting. Assistant City Manager Mark Morgan said that action to further study the possibility could be approved if the council likes what it learns during the work session.

The council will also consider a resolution that would allow a customer allocation agreement between the city and Umatilla Electric Cooperative for a landowner whose property lies in both service areas. The agreement would sunset if the landowner does not begin construction within 36 months from the effective date.

The meeting will be held in the Hermiston Community Center. The public is welcome to attend. Facial coverings and social distancing are required. It is also streamed live on the city’s YouTube channel.