HomeMy WebLinkAbout85-197 - ResolutionsRESOLUTION NO. 85-1 97
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, CALIFORNIA, ADOPTING AN EMPLOYEES ' DEFERRED
COMPENSATION PLAN AND AUTHORIZING THE EXECUTION OF
AGREEMENTS RELATED TO SAID PLAN BY THE DEFERRED COMPENSATION
ADHINISTRATION
WHEREAS, the City of Rancho Cucamonga has in its employ employees who
are and will be rendering valuable services to the City; and
WHEREAS, said employees may desire to defer income until retirement
for the purpose of deferring Federal and State income taxes on said income; and
WHEREAS, the City Council of the City of Rancho Cucamonga has
considered the establishment of a Deferred Compensation Plan for the said
employees and believes that the adoption of said plan will enhance the
efficiency and morals of the employees and will be in the best interests of the
City] and
WHEREAS, it is intended that said Plan shall be in accordance
Federal and State law and regulations; and
with
WHEREAS, the City Council finds that it would be for the benefit and
in the best interests of the City to approve the Deferred Compensation Plan
with International City Management Association.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Rancho Cucamonga that the City Council establishes said Deferred Compensation
Plan for said employees of the City, and the same is hereby approved and
adopted, to be effective June 19, 1985.
BE IT FURTHER RESOLVED that Harry J. Empey is hereby appointed to
administer the Plan on behalf of the City and is authorized to execute
Participation Agreements with eligible officers, officials and employees, and
all other Documents and Agreements necessary to implement and administer the
Plan.
PASSED, APPROVED, and ADOPTED this 19th day of June, 1985.
AYES: Wright, Buquet, Dahl, King
NOES: None
ABSENT: MikeIs
Richard M. Dahl, Mayor Pro Tem
ATTEST:
ever 'YA~Authelet, City Clerk
Resolution No. 85-197
Page 2
I, BEVERLY A. AIITHELET, CITY CLERK of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Resolution was 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 19th day of
June, 1985.
Executed this 20th day of June, 1985 at Rancho Cucamonga, California.
h 1
Beret y . Aut e et, City Clerk