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Tree Watering Systems; Monrovia Ahead in Paying Down Retirement Debt; LimeBike Glitches; Family Campouts


In his weekly report, City Manager Oliver Chi reports that ...

~ If you are concerned about how the drought will affect your trees, city staff "has developed a deep tree watering flyer that outlines both the supplies needed and the process involved with creating your own deep watering system. (I can't find a legible online copy but I'm sure you can get one at City Hall. If you know of a legible copy online let me know and I'll post it.)

~ Because CalPERS made 8.6% across all of its investments in its 2017-18 fiscal year, Monrovia is about $5.7 million ahead. Why? Because the city sold bonds worth about $100 million and sent the money to Calpers to pay off its unfunded retirement debt, and, Chi writes, "The money we sent earned 8.6% interest for roughly one-half the year.  When you couple those earnings with the reduction in interest payments that we would have had to make for our unfunded liability, the bottom line during the first fiscal-year of our CPR Plan decision has been this: We are [about] $5.7 million ahead of where we would have been had we not engaged our CPR Plan."

~ Because of turnover for the LimeBike operations team, it is taking longer to readjust the bikes. The company is hiring someone to take over readjusting the bikes in Monrovia.

~ More Family Hike & Campout events in Canyon Park are planned. BBQ dinner, s'mores, a hike, story-time, and more. Campouts are: July 21-22, Aug. 11-12, Aug. 25-26, Sept. 15-16, and Sept. 29-30.  Registration opens  three weeks before the event. For questions, call Canyon Park Naturalists at 256-8155.

- Brad Haugaard

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