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CaIPERS valuation dated June 30, 2009 and the Bartel Associates GASB 45 valuation dated June 30, 2010. He noted that all projections assume an effective date of July 1, 2011 when of course the actual effective date will be later. While the actual values relative to the fiscal year may be delayed, the message that the savings grows as time goes by remains consistent. Mayor Hosterman opened the item for public comment. Kay Ayala requested that the Council delay action on the item pending the legislature's scheduled action on the information released by Governor Brown's office today which talks about capping pensionable salaries, establishing equal share of pension costs as a standard, and unilaterally rolling back retirement formulas. She referred to her question from last week as to whether any Councilmembers had accepted money or help from those whose union wages they set. She stated that Councilmember Cook-Kallio was the only one who reported accepting help from union members. She cautioned that the public perception is that it would be wiser not to accept money from employee unions. Councilmember Cook-Kallio clarified that she did not report accepting union monies. She has extended an offer to discuss the matter further with Ms. Ayala but said she does not believe this is the place to do so. She also reported that she has not accepted any money from the IAFF. Bart Hughes said he believes that the Council is comprised of good people who care about what is best for Pleasanton but that the net result of this contract is essentially an intergenerational transfer of wealth. He asked how the Council would respond to those down the line who want to know why they are bearing the cost of today's errors. He cautioned against relying on CaIPERS to rectify the situation as the public has spent the last ten years waiting for just this with no results. Karla Brown assured the Council that her concerns are not based on her opinion of Pleasanton's superior safety service employees. She asked why, if the contract expired December 31, 2011, negotiations did not begin until January and result in a Tentative Agreement until now. She said a two-year contract is intended to be agile and respond to a changing marketplace, which is somewhat defeated when negotiations are delayed beyond the expiration of the contract. Howard Neely announced that the first Candidates' Night would be held on Thursday at Pleasanton Gardens. He asked the City to post this and other related announcements on the website. Jason Solak, President of IAFF Local 1974, said that LPFD is unique in that it services two communities, which makes for difficult and dynamic negotiations. He acknowledged that "unions" have become a bad word in the context of the recent economy but reminded the public that organized labor was a movement created to ensure fair conditions, wages and safety. He noted that approximately 55% of IAFF members are residents of Livermore and Pleasanton and have an interest in the fiscal health of both cities. He referred to a comment made by Mr. Bartel several months before, in which he said that no one could control the unfunded liability. He noted that as recently as 2000, there was no unfunded liability and that it is easy to look at a snapshot in time but investment strategies need to be viewed from a long-term perspective. He thanked staff and the members of both Councils for a collaborative bargaining process that did not result in the tarnishing of relationships everyone worked so hard to build. Mayor Hosterman closed public comment. Councilmember McGovern asked Mr. Bartel to discuss recent actions at the State level. Special City Council Minutes Page 2 of 5 August 28, 2012