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ORDINANCE NO. S,03 <br />AN ORDINANCE AMENDING ORDINANCE NO. 494 OF THE TOV N OF <br />LOS GATOS ENTITLED "AN ORDINANCE AMENDING ORDINANCE NO. <br />451 OF THE T014N OF LOS GATOS, ENTITLED, 'AN ORDINANCE <br />CREATING A PENSION PLAN FOR. TOWN EMPLOYEES' g► <br />THE TOTM COUNCIL OF THE TOWN OF LOS GATOS DOES <br />ORDAIN AS FOLLOWS: <br />Section 1. That Sub-section 3.20 and Sub-section 5.10 <br />of Section 6(c) of Ordinance No, 494 of the Town of Los <br />Gatos, entitled "An Ordinance amending Ordinance No.451 <br />of the Town of Los Gatos, entitled, 'An Ordinance <br />creating a pension plan for Town Employees"', passed <br />and adopted by the Town Council of the Town of Los Gatos <br />on April 20, 1959, be, and the same are hereby, amended as <br />follows: <br />3.20 The Trustee shall have full power <br />to invest and reinvest the Fund of this Trust in any <br />investments permitted by law for the investments of <br />trust funds in the State of California, as may be directed <br />by the Pension Board. <br />5.10 The Pension Board may from time to <br />time make recommendations to the Trustee with respect to <br />the management and administration of this Trust, but such <br />recommendations shall ;not restrict -the powers of the T::ustee <br />herein provided. <br />Section 2. , This Ordinance shall be published once <br />in the Los Gatos Times-Saratoga Observer, a newspaper <br />published in the Town of Los Gatos. <br />The above and foregoing Ordinance was duly and <br />regularly introduced at a regular meeting of the Town Council <br />of the Town of Los Gatos held on the 18th day of May 1959; <br />-1- <br />