Title
Recorder-Clerk's Department recommending the Board:
1) Approve and authorize the Chair to sign the Mutual Release and Satisfaction of Claims Agreement in the amount of $75,429 with California Electronic Recording Transaction Network Authority; and
2) Approve and authorize the Chair to sign a budget transfer increasing revenue and appropriations in the amount of $75,429 for said Agreement (4/5 vote required).
FUNDING: Electronic Recording Trust Account.
Body
DISCUSSION / BACKGROUND
The Electronic Recording Delivery Act of 2004 was enacted to authorize a county recorder to establish an electronic recording delivery system for recording of specified digitized electronic records, pursuant to the provisions and regulations developed by the California Department of Justice (DOJ). In September 2008, CERTNA was certified by the DOJ, and on March 9, 2010 the Board of Supervisors adopted Resolution 026-2010 authorizing the County Recorder's participation in CERTNA and execution of Addendum Number 5 to the CERTNA Joint Powers Agreement (JPA). As a member of the CERTNA, the Recorder is a Board member county that electronically records through the CERTNA portal.
CERTNA has two enrolled members with San Bernardino County Employees' Retirement Association (SBCERA), one a retiree and one a terminated vested member. On March 25, 2021, the CERTNA's Board of Directors approved a resolution to withdraw as a participating employer of SBCERA. On April 7, 2021, CERTNA's Board of Directors amended its resolution and directed that CERTNA shall cease to be a participating employer of SBCERA effective June 30, 2021, and that all current, withdrawing, and former members counties of CERTNA will be liable for the unfunded pension liability obligations. Under Section 11 of the JPA, that liability is divided by proportional shares. SBCERA retained the obligation to provide benefits to those members after CERTNA's termination date. The purpose of the unfunded pension liability...
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