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Special Meeting of the Town Council: Joint Finance Commission Study Session

Special Meeting

Los Gatos, CA · October 6, 2025

AgendaPacketMinutes

Minutes

TOWN OF LOS GATOS COUNCIL AGENDA REPORT Minutes of the Joint Special Meeting Town Council and Finance Commission: Study Session Tuesday, October 6, 2025 The Town Council of the Town of Los Gatos conducted a special meeting in person and via teleconference. MEETING CALLED TO ORDER AT APPROXIMATELY 5:30 P.M. ROLL CALL Present: Mayor Matthew Hudes, Vice Mayor Rob Moore, Council Member Mary Badame, Council Member Rob Rennie (participating remotely), Council Member Maria Ristow, Commissioner Phil Koen, Commissioner Joseph Rodgers, Commissioner Adam Fischer, Vice Chair Ashby Monk, Chair Linda Reiners. Absent: None. VERBAL COMMUNICATIONS (ONLY ON ITEMS ON THE AGENDA) No one spoke. OTHER BUSINESS 1. Presentation and Discussion of the Local Government Investment Environment and Its Implications on the Town’s California Employers’ Pension Prefunding Trust (CEPPT) and California Employers’ Retiree Benefit Trust (CERBT) to Provide a Training Foundation for the Town Council and Finance Commission. Chris Constantin, Town Manager, introduced the consultant. Mark Shuster, Shuster Advisory Group, gave a presentation on the local government investment environment and implications on the section 115 Trust for the Other Post- Employment Benefits (OPEB) and pension prefunding. The Town Council and the Finance Commission asked questions and provided comments related to financial management, investment strategies, and pension liabilities. ADJOURNMENT The meeting adjourned at approximately 7:30 p.m. Respectfully Submitted: ___________________________ /s/ Jenna De Long, Deputy Town Clerk 110 E. Main Street Los Gatos, CA 95030 ● 408-354-6832 www.losgatosca.gov

Agenda

TOWN OF LOS GATOS SPECIAL MEETING OF THE TOWN COUNCIL: JOINT FINANCE COMMISSION STUDY SESSION AGENDA OCTOBER 6, 2025 110 EAST MAIN STREET AND VIA TELECONFERENCE TOWN COUNCIL CHAMBERS 5:30 PM Matthew Hudes, Mayor Rob Moore, Vice Mayor Mary Badame, Council Member Rob Rennie, Council Member Maria Ristow, Council Member IMPORTANT NOTICE This is a hybrid meeting and will be held in-person at the Town Council Chambers at 110 E. Main Street and virtually through Zoom Webinar (log-in information provided below). You may watch the Council meeting without providing public comment on Comcast cable channel 15 or at www.LosGatosCA.gov/TownYouTube. Members of the public may provide public comments for agenda items in-person or virtually by following the instructions listed at the end of the agenda. To watch and participate via Zoom, please go to: https://losgatosca-gov.zoom.us/j/85488322698?pwd=7Sq4eCaTO82GZSxVmc2bKaNicYDDOu.1 Passcode: 652669 Council Member Rob Rennie will be participating via teleconference pursuant to Government Code Section 54953(b)(3) from a location at Via Guglielmo Marconi, 15, 70011 Alberobello BA, Italy. The teleconference location shall be accessible to the public and the agenda will be posted at the teleconference location 24 hours before the meeting. CALL MEETING TO ORDER ROLL CALL VERBAL COMMUNICATIONS (Members of the public are welcome to address the Council only on matters listed on the agenda. Each speaker is limited to three minutes or such time as authorized by the Mayor.) OTHER BUSINESS (Up to three minutes may be allotted to each speaker on any of the following items.) 1. Presentation and Discussion of the Local Government Investment Environment and Its Implications on the Town’s California Employers’ Pension Prefunding Trust (CEPPT) and California Employers’ Retiree Benefit Trust (CERBT) to Provide a Training Foundation for the Town Council and Finance Commission. Page 1 of 2 ADJOURNMENT (Council policy is to adjourn no later than midnight unless a majority of Council votes for an extension of time) ADA NOTICE - In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the Clerk’s Office at (408) 354-6834. Notification at least two (2) business days prior to the meeting date will enable the Town to make reasonable arrangements to ensure accessibility to this meeting [28 CFR §35.102-35.104]. NOTE: The ADA access ramp to the Town Council Chambers is currently under construction and will be inaccessible until further notice. Individuals who require the use of that ramp to attend meetings should contact the Clerk’s Office at least two (2) business days in advance to arrange for alternative accommodations. NOTICE REGARDING SUPPLEMENTAL MATERIALS - Materials related to an item on this agenda submitted to the Town Council after initial distribution of the agenda packets are available for public inspection in the Clerk’s Office at Town Hall, 110 E. Main Street, Los Gatos and on the Town’s website at www.losgatosca.gov. Town Council agendas and related materials can be viewed online at https://losgatos-ca.municodemeetings.com/. HOW TO PARTICIPATE The public is welcome to provide oral comments in real-time during the meeting in three ways:  Zoom Webinar (Online): Join from a PC, Mac, iPad, iPhone or Android device. Please click this URL to join: https://losgatosca- gov.zoom.us/j/85488322698?pwd=7Sq4eCaTO82GZSxVmc2bKaNicYDDOu.1 Passcode: 652669. You can also type in 854 8832 2698 in the “Join a Meeting” page on the Zoom website at zoom.us and use passcode 652669. o When the Mayor announces the item for which you wish to speak, click the “raise hand” feature in Zoom. If you are participating by phone on the Zoom app, press *9 on your telephone keypad to raise your hand.  Telephone: Please dial 1 (855) 758-1310 for US Toll-free or 1 (408) 961-3927 for US Toll. (Meeting ID: 854 8832 2698) o If you are participating by calling in, press *9 on your telephone keypad to raise your hand.  In-Person: Please complete a “speaker’s card” located on the back of the chamber benches and return it to the Town Clerk before the meeting or when the Mayor announces the item for which you wish to speak. NOTES: Comments will be limited to three (3) minutes or less at the Mayor’s discretion. If you are unable to participate in real-time, you may email Clerk@losgatosca.gov with the subject line “Public Comment Item #__ ” (insert the item number relevant to your comment). Deadlines to submit written comments are: -11:00 a.m. the business day before the Council meeting for inclusion in an addendum. -11:00 a.m. on the day of the Council meeting for inclusion in a desk item. Page 2 of 2

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