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• MOTION SECONDED AND CARRIED: Moved by Johnson, seconded by Dauber and passed <br /> unanimously to approve the minutes of the November 18, 1999 Regular Meeting with the <br /> following corrections: page 2, Item 5,third paragraph, first sentence should read: "Casey noted <br /> that when the design guidelines were written there was no Town-wide mailing requesting public <br /> input.", insert the following as the third sentence in that paragraph, "Siegel noted that the design <br /> guidelines were subject to public hearings by the City Council and the Planning Commission."; <br /> page 3, first paragraph, add the following as the next to last sentence: "Dauber pointed out that <br /> the lack of landscaping had been a problem in the past." <br /> 4.5 Approval of Investment Report for the Quarter ended 9/30/99 <br /> Finn noted that the Town invested its funds in the Local Agency Investment Fund (LAIF) and he <br /> was concerned that the Town was not receiving a reasonable interest rate. He recommended that <br /> the Town look into other investment opportunities for a better rate of return. Finn also <br /> suggested moving forward on this rather quickly since according to his calculations the Town <br /> was losing about$15,000 a month in interest. <br /> Jim Steiner, member of the Finance Committee,reported that they had looked into other <br /> investment options and had recently received information from the Federal Reserve Bank in San <br /> Francisco which they were reviewing. Mr. Steiner commented that one option was direct trading <br /> but that raised the issues of management and custodial responsibilities. He further noted that the <br /> committee was meeting in early January and could report on this issue to Council after that <br /> • meeting. <br /> PASSED BY CONSENSUS: To approve the investment report for the quarter ending 9/30/99 <br /> Dauber noted that Council used to receive quarterly financial reports and asked for a current <br /> status of the availability of these reports. <br /> 5. UNFINISHED BUSINESS <br /> 6. NEW BUSINESS <br /> 6.1 Resolution authorizing agreement with Kelly and Christina Porter for historic <br /> Preservation of Morgan Manor, 12335 Stonebrook Court, Lands of Porter— <br /> Resolution# <br /> MOTION SECONDED AND CARRIED: Moved by Johnson, seconded by Casey and <br /> passed unanimously to adopt Resolution#76-99 approving and authorizing execution of an <br /> agreement between the Town of Los Altos Hills and Kelly R. Porter and Christina M. Porter <br /> • <br /> December 2, 1999 <br /> Regular City Council Meeting <br /> 3 <br />