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Golden Handshake - Captain <br />June 23, 2003 <br />Page 2 of 2 <br />This one-time cost of $ $76,367.95 will be paid this fiscal year from each fund's reserves, but will be <br />more than offset by annual savings of approximately $ $128,870.92, representing salary and benefit costs <br />in successive fiscal year budgets. <br />RECOMMENDATION: <br />As required by Government Code Section 7507, Staff respectfully requests that public announcement be <br />made informing that the costs for the additional service credit will be $ 76.367.95 along with a $10 <br />valuation charge. Further, it is requested that the City Council establish the window for eligible from July <br />16 2003 to November 12, 2003. <br />City Attorney: <br />Finance Director. L � <br />0-,- Ut� �- <br />City Manager: <br />t <br />OTHER: <br />