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(~ RESOLUTION 20.01 - 51 ~ <br />.RESOLUTION OF INTENTION <br />TO APPROVE AN AMENDMENT TO CONTRACT <br />BETWEEN THE <br />BOARD OF ADMINISTRATION <br />CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM <br />AND THE <br />TOWN COUNCIL <br />TOWN OF LOS GATOS <br />`WHEREAS, the Public Employees' Retirement Law permits the participation of public <br />.agencies and their employees in the Public Employees' Retirement System <br />by the execution of a contract, and sets forth the procedure by which said <br />public agencies may elect to subject themselves and their employees to <br />amendments to said Law; and <br />WHEREAS., one of the steps in the procedures to amend this contract is the adoption <br />by the governing body of the public agency of a resolution giving notice of <br />its intention to. approve an amendment to said contract, which resolution <br />shall contain a summary of the change proposed in said contract.; and <br />WHEREAS, the following is a statement of the .proposed change: <br />To provide Section .21362,2 {3% @ 50 Full formula) for <br />local police members. <br />NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency <br />does hereby give notice of intention to approve an amendment to the <br />contract between said public agency and the Board of Administration of the <br />Public Employees' Retirement System, a copy of said amendment being <br />attached hereto, as an "Exhibit" and by this .reference made a part hereof. <br />C~~, <br />`~ Gi/2e.~-~ C/ . <br />a-~ ~.~ ~ <br />~ 7 ~~i <br />Date .ado teG a~-d approveel <br />By: <br />r siding c r <br />~~ <br />Title <br />(Amendment) <br />OON-302 (Rev. 4/96) <br />