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Vice Mayor Cook-Kallio said it is absolutely clear that Pleasanton's officers care about the quality of life here. She thanked them for their service and willingness to address difficult issues with a realistic attitude. Councilmember McGovern thanked all parties for the effort put in and said the City is truly committed to reducing its unfunded liability, particularly through the Rate Stabilization Fund. Councilmember Sullivan voiced his thanks, as well. He said the Tentative Agreement represents a balanced approach to addressing what everyone recognizes as a serious problem. He said the agreement contains a number of concessions he would have thought impossible a year ago and thanked PPOA for working with the City. The immediate savings provided by the contract, as well as other strategies, will help to get a handle on the long-term unfunded liability without gutting the pay and benefits of such valued employees. Councilmember Thorne said his personal objectives with respect to these contracts are that they should be fair to employees, fair to taxpayers, and not jeopardize the ability to provide employees with a defined benefits program. He said the agreement is not perfect but is a giant step forward and PPOA's willingness to accept the contact indicates its level of commitment to the community. Mayor Hosterman echoed the Council's thanks. 5. ADJOURNMENT: The special meeting adjourned at 7:05 p.m. Respectfully submitted, Karen Diaz City Clerk Special City Council Minutes Page 4 of 4 January 4, 2012