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ABSENT:0 <br />Status: 7-0-0-0— Pass <br />**END OF CONSENT CALENDAR** <br />IBUSINESS CALENDAR <br />21. Consider refinancing the city's employee pension debt and adoption of the proposed <br />Unfunded Employee Pension Liability Cost Reduction Policy <br />Department(s): Finance and Management Services <br />Recommended Action: 1. Determine whether to proceed with refinancing any <br />portion of the pension debt. If City Council wishes to proceed with pension debt <br />refinancing. <br />a. Direct staff to propose a contract for bond counsel services to prepare a resolution <br />for City Council consideration authorizing the sale of pension obligation bonds, which <br />is necessary to begin the court validation process to refinance the pension debt; and <br />b. Adopt the proposed Unfunded Employee Pension Liability Cost Reduction Policy. <br />MINUTES: City Manager Kristine Ridge provided a brief introduction. <br />Cxecutive Director of Finance and Management Services Agency Kathryn Downs <br />provided a brief presentation. <br />Council provided direction to staff. <br />Moved by Councilmember Phan, seconded by Councilmember Mendoza to <br />Approve. <br />YES: 7— Penaloza, Phan, Lopez, Bacerra, Hernandez, Mendoza, Sarmiento <br />NO: 0 <br />ABSTAIN: 0 <br />ABSENT:0 <br />Status: 7-0-0-0— Pass <br />22. SPECIAL MEETING — (Open Session Item 22) <br />Resolution directing the City Manager and City Attorney to report back to City Council <br />prior to March 2, 2021 for a proposed ordinance requiring premium pay for grocery <br />workers <br />Department(s): City Managers Office, City Attorneys Office <br />Recommended Action: Resolution No. 2021-XXX— Adopt a resolution instructing <br />City Council e- 13 2/2/2021 <br />