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<br />C"'T'I7C : d j c 3 / 14 / 8 6 <br /> <br />10160 <br /> <br />ORIG!NI4l <br />MAR 1 7 1986 <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. <br /> <br />RESOLUTION APPROVING AND ESTABLISHING DEFERRED COMPENSATION <br />PLAN FOR CITY EMPLOYEES; APPOINTING ICMA RETIREMENT <br />CORPORATION TO SERVE AS ADMINISTRATOR FOR SAID PLAN; <br />ADOPTING DECLARATION OF TRUST AND AUTHORIZING CITY MANAGER <br />TO EXECUTE SAID DOCUMENT ON BEHALF OF THE CITY OF REDWOOD <br />CITY; APPROVING AND AUTHORIZING EXECUTION OF TRUST <br />AGREEMENT; AND DESIGNATING DIRECTOR OF FINANCE AS PROGRAM <br />COORDINATOR <br /> <br />WHEREAS, pursuant to Resolution No. 7398, adopted April 28, <br /> <br />1975, the City Council established a deferred compensation plan <br /> <br />for employees of the City of Redwood City; and <br /> <br />WHEREAS, this Council desires to establish a second deferred <br /> <br />compensation plan to provide City employees with an alternative <br /> <br />means of deferred compensation investment; and <br /> <br />WHEREAS, there has been presented to this Council a deferred <br /> <br />compensation plan administered by the <br /> <br />International City <br /> <br />Management Association ("ICMA") Retirement Corporation, which <br /> <br />plan is in conformance with Section 457 of the Internal Revenue <br /> <br />Code of 1954, as amended, and which plan is used by many cities <br /> <br />in the State of California; and <br /> <br />WHEREAS, it is the intention of this Council to establish <br /> <br />said plan for the City of Redwood City, and to appoint the ICMA <br />Retirement Corporation to administer said plan for the City of <br /> <br />Redwood City; <br /> <br />NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br /> <br />AS FOLLOWS: <br /> <br />"'1 n -1... 6b 0 <br />v <br />