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Vice Mayor Olson added that in recent years, CaIPERS has not done that well. Councilmember Pentin added CaIPERS has not performed through this market run and stated there will be risky business with CaIPERS in the next few years. There is no guarantee that giving them more money is going to be wisely invested. That is why he supports the Section 115 Fund. City Manager Fialho reported that once the deposit is made into a Section 115 Fund, it can only be used for pensions. Councilmember Brown noted the goal is to leave the funds for ten years and not withdraw them unless there is an emergency. Councilmember Narum stated this is the first step in a plan that will help fund the City's increasing mandates for pensions and will allow the City, in ten years, to begin using the money to make additional liability payments and not reduce City services. This is a long-term plan for future Council's to deal with and maintain the financial stability of the City. The Section 115 Fund leaves the City in control of the money so in case of future problems, the City can use the money to pay CaIPERS and offset the General Fund and puts the money in a lockbox. MOTION: It was m/s by Narum/Brown to adopt and waive full reading of Resolution No. 18-1005 approving the adoption of the Public Agencies Post-Employment Benefits Trust Administered by Public Agency Retirement Services (PARS). Motion passed by the following vote: Ayes: Councilmembers Brown, Narum, Pentin, Vice Mayor Olson Noes: None Absent: Mayor Thorne 15. Review and provide comments on the BART to Livermore project and the project alternatives City Traffic Engineer Mike Tassano announced the item, introduced Andrew Tang, BART Project Manager and John McPartland, BART Director and deferred to them for a report. John McPartland, BART Director, introduced the item noting the report will include results of an EIR and a second portion, going beyond the EIR, that has to do with legislation introduced by Katherine Baker, AB 758, whereby the Tri-valley/San Joaquin Valley Regional Rail Authority is looking at planning for extension of rail transportation connecting from BART to Ace. Andrew Tang, BART Project Manager, provided a report and displayed a PowerPoint presentation addressing BART to Livermore Status, timeline of next steps, and how AB 758 will affect the project. In response to Councilmember Brown's question, Mr. Tang reported if BART or the Authority were to build a project, either will need a substantial amount of funding. In reply to Councilmember Narum's questions as to what would happen if BART chose the "no project" option, Mr. Tang stated then the Authority would be able to pursue a project. In answer to Councilmember Pentin's inquiry, Mr. Tang reported the legislation specifies the BART Board needs to adopt a preferred alternative to Isabel. He doubted whether buses would qualify as a preferred alternative to Isabel. Mr. Tang continued with the report addressing Public Outreach and details of each alternative for a Conventional BART to Isabel, including Alternative 1 - Diesel Multiple Unit (DMU) or Electric Multiple Unit (EMU), Alternative 2 — Express Bus/Bus Rapid Transit (BRT), Alternative 3 — Enhanced Bus, future Isabel Station, existing conditions and simulate conditions, benefits of the various alternatives in terms of Transit Travel Time, 2040 average weekday increase in BART Systemwide Boardings, and New BART Trips. City Council Minutes Page 4 of 7 March 6, 2018