#722 11-18-74 Approve Deferred Compensation PlanResolution No. 722
November 13, 1974
Member Anderson introduced the following resolution and MOVED its adoption:
RESOLUTION
(In the matter of the City's Deferred Compensation Plan)
WHEREAS, The City has previously established the ICMA Retirement
Corporation's deferred compensation plan for certain of its employees; and
WHEREAS, The ICMA Retirement Corporation has requested that certain
amendments be made to said plan; and
WHEREAS, Said amendments assist the City by simplifying the
administration of said plan; and
WHEREAS,The City of Golden Valley will assist its employees, at no
cost to itself, by the incorporation into said plan, of additional attractive
features,
NOW THEREFORE BE IT RESOLVED by the City Council of the City of
Golden Valley that it hereby amends its trust agreement with the ICMA Retirement
Corporation by substituting therefore the deferred compensation plan attached
hereto as Appendix A, and hereby authorizes its Mayor to execute the deferred
compensation plan with the international City.Management Association Retirement
Corporation; and
BE IT FURTHER RESOLVED that the City Mayor may, on behalf of the
City of Golden Valley, execute all joinder agreements with said employees and
other eligible officials and officers, which are necessary for said persons
participation in the plan, an example of which appears as appendix B, except
that any joinder agreement for said designated official shall be executed by
the Mayor of the City of Golden Valley.
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Ma or
Attest:
City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member
Hoover, and upon vote being taken thereon the following voted in favor thereof:
Anderson, Bix, Hoover, Moberg, and Riggs; and the following voted against the
same: None, whereupon said resolution was declared duly passed and adopted,
signed by the Mayor and his signature attested by the Clerk.
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