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Moved by Councilmember Bacerra, seconded by Mayor Sarmiento to <br />Approve Item 32 with option 2B to maintain miscellaneous fee at the current <br />rate.. <br />YES: 7 — Penaloza, Mayor Pro Tem, — Phan, Councilmember, — Lopez, <br />Councilmember, — Bacerra, Councilmember, — Hernandez, Councilmember, — <br />Mendoza, Councilmember, — Sarmiento, Mayor <br />NO: 0 <br />ABSTAIN: 0 <br />ABSENT: 0 <br />Status: 7-0-0— 0— Pass <br />MINUTES: City Manager Kristine Ridge introduced Item 32. <br />Executive Director of Finance and Management Services Agency Kathryn Downs provided a <br />brief presentation. <br />Council provided direction to city staff. <br />33. Adopt a Resolution Authorizing Judicial Validation Proceedings for the Proposed <br />Pension Debt Refinancing and Related Bond Financing Agreements <br />Department(s): Finance and Management Services <br />Recommended Action: Resolution No. 2021-XXX —Adopt a resolution authorizing <br />the Issuance of Bonds to refund certain pension obligations of the City, up to the <br />estimated Unfunded Actuarial Liability (UAL) as of June 30, 2021, approving the form <br />and authorizing the execution of a trust agreement and purchase contract, and <br />authorizing Judicial Validation Proceedings relating to the issuance of such Bonds <br />and approving additional actions related thereto (Agreement No. 2021-XXX). <br />MINUTES: Assistant Executive Director of Finance and Management Services <br />Agency Sergio Vidal provided a brief presentation. <br />Moved by Councilmember Phan, seconded by Councilmember Lopez to <br />Adopt. <br />YES: 7 — Penaloza, Mayor Pro Tem, — Phan, Councilmember, — Lopez, <br />Councilmember, — Bacerra, Councilmember, — Hernandez, Councilmember, — <br />Mendoza, Councilmember, — Sarmiento, Mayor <br />NO: 0 <br />ABSTAIN: 0 <br />ABSENT: 0 <br />Status: 7-0-0— 0— Pass <br />City Council 17 3/16/2021 <br />