HomeMy WebLinkAbout88-414 - Resolutions RESOLUTION NO. 88-414
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RAN(~O
C~CAH)NGA, CALIFORNIA. ADOPTII~ THE DECLARATION OF TRUST
OF THE INTERNATIONAL CITY MANAGENENT ASSOCIATION
RETIREMENT T~JST
WHEREAS, the Employer has employees rendering valuable services; and
WHEREAS, the establishment of a deferred compensation plan for such
employees serves the interests of the Employer by enablin8 it to provide
reasonable retirement security for its employees, by providing increased
flexibility in his personnel management system, and by assisting in the
attraction and retention of competent personnel; and
WHEREAS, the Employer desires that the investment of funds held under
its deferred compensation plan be administered by the ICMA Retirement
Corporation, and that such funds be held by the ICMA Retirement Trust, a trust
established by public employers for the collective investment of funds held
under their deferred compensation plans and money purchase retirement plans;
BE IT FURTHER RESOLVED that the Administrative Services Director shall
be the coordinator for this program and shall receive necessary reports,
notices, etc., from the ICMA Retirement Corporation or the ICMA Retirement
Trust, and shall cast, on behalf of the Employer, any required votes under the
program. Administrative duties to carry out the plan may be assigned to the
appropriate departments~
PASSED, APPROVED, and ADOPTED this 6th day of July, 1988.
AYES~ Brown, Buquet, Stout, King, Wright
NOES: None
AB SENT: None
Dennis L. Stout, Mayor
ATTEST:
Beverly ~. Authelet, City Clerk
Resolution No. 88-414
Page 2
I, BEVERLY A. AU~I~LRT, CITY CLERK of the City of Rancho
Cuca~onga, California, do hereby certify that the foregoing Resolution vas duly
passed, approved, and adopted by the City Council of the City of Rancho
Cucamonga, California, at a regular meeting of said City Council held on the
6th day of July, 1988.
Executed this 7th day of July, 1988 at Rancho Cuca~onga, California.
Beverly/A. Authelet, City Clerk