Ord 0503-AMENDING ORDINANCE NO. 494ORDINANCE NO. S,03
AN ORDINANCE AMENDING ORDINANCE NO. 494 OF THE TOV N OF
LOS GATOS ENTITLED "AN ORDINANCE AMENDING ORDINANCE NO.
451 OF THE T014N OF LOS GATOS, ENTITLED, 'AN ORDINANCE
CREATING A PENSION PLAN FOR. TOWN EMPLOYEES' g►
THE TOTM COUNCIL OF THE TOWN OF LOS GATOS DOES
ORDAIN AS FOLLOWS:
Section 1. That Sub-section 3.20 and Sub-section 5.10
of Section 6(c) of Ordinance No, 494 of the Town of Los
Gatos, entitled "An Ordinance amending Ordinance No.451
of the Town of Los Gatos, entitled, 'An Ordinance
creating a pension plan for Town Employees"', passed
and adopted by the Town Council of the Town of Los Gatos
on April 20, 1959, be, and the same are hereby, amended as
follows:
3.20 The Trustee shall have full power
to invest and reinvest the Fund of this Trust in any
investments permitted by law for the investments of
trust funds in the State of California, as may be directed
by the Pension Board.
5.10 The Pension Board may from time to
time make recommendations to the Trustee with respect to
the management and administration of this Trust, but such
recommendations shall ;not restrict -the powers of the T::ustee
herein provided.
Section 2. , This Ordinance shall be published once
in the Los Gatos Times-Saratoga Observer, a newspaper
published in the Town of Los Gatos.
The above and foregoing Ordinance was duly and
regularly introduced at a regular meeting of the Town Council
of the Town of Los Gatos held on the 18th day of May 1959;
-1-
and thereafter at a regular meeting held on the
day of, y . 959, duly and regularly passed
and adopt, d by the following vote:
AY&E)' : COUNCILiEN:
NO6C: COUNCILI N:
ABSENT: COUNCILMEN: ' i ✓ .";a
ImAA lOR, OF WTI-0 7 O S GE's TO D
ATTEST:
A - A, ,P'- "4~~
CLERK OF i .r., TO" JN OF LO' GATO
-2-