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City of San Jose
Meeting:
City Council Study Session - Pension Obligation Financing Options
Meeting Time: April 23, 2021 at 9:00am PDT
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Closed for Comment April 23, 2021 at 7:30am PDT
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* COVID-19 NOTICE *
Consistent with the California Governor's Executive Order No. N-29-20, Resolution No. 79485 from the City of San José and the Santa Clara County Health Officer's March 16, 2020 Shelter in Place Order, the City Council meeting will not be physically open to the public and the City Council will be teleconferencing from remote locations.
How to observe the Meeting (no public comment):
1) Cable Channel 26, 2) https://www.sanjoseca.gov/news-stories/watch-a-meeting, or 3) https://www.youtube.com/CityofSanJoseCalifornia
How to submit written Public Comment before the City Council Meeting:
1) Use the eComment tab located on the City Council Agenda page. eComments are also directly sent to the ilegislate application used by City Council and staff. 2) By email to city.clerk@sanjoseca.gov by 3:00 p.m. on April 22, 2021. Those emails will be attached to the Council Item under "Letters from the Public." Please identify the Agenda Item Number in the subject line of your email.
How to submit written Public Comment during the City Council Meeting:
1) Email during the meeting to councilmeeting@sanjoseca.gov, identifying the Agenda Item Number in the email subject line. Comments received will be included as a part of the meeting record but will not be read aloud during the meeting.
How to provide spoken Public Comment during the City Council Meeting:
1) By Phone: (888) 475 4499. Webinar ID is 95189084728. Click *9 to raise a hand to speak. Click *6 to unmute when called. Alternative phone numbers are: US: +1 (213) 338-8477 or +1 (408) 638-0968 or (877) 853-5257 (Toll Free) 2) Online at: https://sanjoseca.zoom.us/j/95189084728 a. Use a current, up-to-date browser: Chrome 30+, Firefox 27+, Microsoft Edge 12+, Safari 7+. Certain functionality may be disabled in older browsers including Internet Explorer. Mute all other audio before speaking. Using multiple devices can cause an audio feedback. b. Enter an email address and name. The name will be visible online and will be used to notify you that it is your turn to speak. c. When the Mayor calls for the item on which you wish to speak, click on "raise hand." Speakers will be notified shortly before they are called to speak. d. When called, please limit your remarks to the time limit allotted.
For Closed Captions, please visit the City's YouTube channel:
https://www.youtube.com/CityofSanJoseCalifornia, or website livestream https://www.sanjoseca.gov/news-stories/watch-a-meeting.
Purpose: To present and evaluate options for funding the City's Unfunded Actuarial Liability ("UAL") obligations of the City's two retirement systems (Federated and Police and Fire), including the possibility of issuing Pension Obligation Bonds ("POBs") and provide other preparatory work that will enable the Council to make a fully informed decision about the merits and risks of UAL funding options. Outcome: The City Council, Administration, and stakeholders have a shared understanding of a) why addressing the UAL and its budgetary impact on the City and its two retirement plans is important; b) the risks and benefits of financing options available to address the UAL, and potential to mitigate those risks; and c) the workplan and timeline required for achieving key milestones.
• Call to Order and Roll Call
CITY COUNCIL STUDY SESSION
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