Special Meeting of the Town Council: Joint Finance Commission Study Session
Special MeetingLos Gatos, CA · October 6, 2025
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.
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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.
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