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<br />DES:dft <br /> <br />O/lO/91 (028/30) <br /> <br />a RIG I N A L <br /> <br />9/16/91 <br /> <br />---------- <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. <br /> <br />11592 <br /> <br />RESOLUTION APPROVING AND AUTHORIZING SUBMITTAL OF <br />APPLICATION FOR ADMINISTRATION OF A DEFERRED <br />COMPENSATION PLAN AND AUTHORIZING IN PURSUANCE THEREOF <br />EXECUTION OF DOCUMENTS <br /> <br />(AETNA LIFE INSURANCE AND ANNUITY COMPANY) <br /> <br />WHEREAS, <br /> <br />this <br /> <br />Council <br /> <br />has <br /> <br />established <br /> <br />public <br /> <br />employee <br /> <br />deferred compensation plans for certain of its employees; and <br /> <br />WHEREAS, Aetna Life Insurance and Annuity Company proposes <br /> <br />to <br /> <br />administer <br /> <br />a <br /> <br />deferred <br /> <br />compensation <br /> <br />plan <br /> <br />for <br /> <br />the <br /> <br />City <br /> <br />of <br /> <br />Redwood City under group contract; and <br /> <br />WHEREAS, <br /> <br />said <br /> <br />company <br /> <br />represents <br /> <br />that <br /> <br />said <br /> <br />plan <br /> <br />is <br /> <br />in <br /> <br />conformance with Section 457 of the Internal Revenue Code of <br /> <br />1954, as amended; and <br /> <br />WHEREAS, this Council desires to authorize submittal of an <br /> <br />application <br /> <br />to <br /> <br />Aetna <br /> <br />Life <br /> <br />Insurance <br /> <br />and <br /> <br />Annuity <br /> <br />Company <br /> <br />for <br /> <br />administration of a deferred compensation plan and to authorize <br /> <br />execution of an agreement or agreements in pursuance thereof; <br /> <br />NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD AS <br /> <br />FOLLOWS: <br /> <br />1. <br /> <br />That certain application entitled "Application Form - <br /> <br />TDA and Deferred Compensation Group Contract" presented by Aetna <br /> <br />Life Insurance and Annuity Company, pursuant to which application <br /> <br />may be made to said Company for administration of a deferred <br /> <br />compensation plan pursuant to Section 457 of the Internal Revenue <br /> <br />Code of 1954 as amended, a copy of which application is on file <br /> <br />in the office of the City Clerk, <br /> <br />to which copy re ference <br /> <br />is <br /> <br />........ ..-¡-...-----.-----' <br />