088-090 - 10-04 Executing Declaration of ICMA Retirement Trust Resolution 88-90 October 4, 1988
P�ember Bakken introduced the following resolution and moved its adoption:
RESOLUTIOP� OF THE CITY OF GOLDEN VALLFY EXECUTIhJG
THE DECLARATION OF TRUST OF TNE ICr1A (INTERPJATIONAL
CITY C�ANAGER'S ASSOCIATIOP�) RETIREMENT TRUST
Resolution of City of Golden Valley ("Employer").
WHEREAS, the Employer has er�ployees rendering valuable services; and
WHEREAS, the establishment of a deferred compensation plan for such employees
serves the interests of the Employer by enabling it to provide reasonable
retireme nt security for its employees, by providing increased flexibility in its
personnel management system, and by assisting in the attraction and retention of
competent personnel ; and
WHEREAS, the Employer has determined that the establishment of a deferred
compensation plan to be administered by the IC�1A Retirement Corporation serves
the above objectives; and
6JHEREAS, the Employer desires that the investment of funds hel� under its
deferred compensation plan be administered by the ICP1A Retirement Corporation,
and that such funds be held by the ICh1A Retirernent Trust, � trust established by
public er�ployers for the collective investment of funds held under their deferred
compensation plans and money purchase retirei;�ent plans;
NOW, THEREFORE, BE IT RESOLVED, that the Em�loyer hereby ex�cutes the
Declaration of Trust of the ICMA Retirement Trust, attached hereto as Exhibit A.
BE IT FURTHER RESOLVED that the City Planager shal l be the coordi nator for
this program and shall receive necessary reports, notices, etc. from the ICMA
Retireinent Corporation or the ICf1A Retirement Trust, and shall cast, on behalf
of the Employer, any required votes unde r the program. Administra�ive duties to
carry out the plan nay be assigned to the appropriate de�artments.
Ci d
Ma ry E. e rso n, Mayo r
ATTEST:
u y Jal y, Deputy C ty Clerk
The motion for the adoption of the foregoing resolution was seconded by P�ember
Thompson and upon a vote being taken thereon, the following voted in favor
thereof: Ande rson, Bakken, Johnson, Stockman and Thompson; and the following
voted against the same: none, whereupon said resolution was decla red duly
passed and adopted, signed by the Clayor and her signature attested by the Deputy
City Clerk.