HomeMy WebLinkAboutR-1988-033 RESOLUTION NO. 33-88
A RESOLUTION OF THE CITY OF DANIA, FLORIDA,
ADOPTING THE ICMA RETIREMENT CORPORATION
DEFERRED COMPENSATION PLANS AND ASSOCIATED
TRUST AGREEMENT,, APPOINTING THE ICMA
RETIREMENT CORPORATION TO SERVE AS ADMINI-
STRATOR THEREUNDER AND AUTHORIZING THE
APPROPRIATE AGENCY OFFICIALS TO EXECUTE THE
NECESSARY AGREEMENTS AND RECEIVE PERIODIC
REPORTS; PROVIDING THAT ALL RESOLUTIONS OR
PARTS OF RESOLUTIONS IN CONFLICT HEREWITH
BE REPEALED TO THE EXTENT OF SUCH CONFLICT;
AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Dania has employed a City Manager; and
WHEREAS, the establishment of a deferred compensation plan for the
City Manager will serve the interests of the Agency by enabling it to
provide reasonable retirement security, by providing increased
flexibility in its personnel management system, and by potentially
assisting in the attraction and retention of competent personnel ; and
WHEREAS, the City of Dania has determined that the establishment
of a deferred compensation plan to be administered by the ICMA
Retirement Corporation will serve the above objectives ; and
WHEREAS, the City of Dania desires that the investment of funds
held under its deferred compensation plan be administered by the ICMA
Retirement Corporation , as Trustee, with the understanding that such
funds will be held by the ICMA Retirement 'Crust , a trust established by
public employers for the purpose of representing the interests of such
employers with respect to the collective investment funds held under
their deferred compensation plans :
NOW, THEREFORE, BE IT RESOLVED, BY THE. CITY COMMISSION OF THE CITY
OF DANIA, FLORIDA:
Section 1 : That the City Commission of the City of Dania , hereby
adopts the Deferred Compensation Plan and appoints the ICMA Retirement
Corporation to serve as Administrator thereunder ; and
Section 2 : That the City of Dania hereby authorizes the
appropriate City officials to execute the ICMA Retirement Trust ; and
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Section 3: That the City of Dania hereby adopts the trust
agreement, and appoints the ICMA Retirement Corporation as Trustee
thereunder, and directs the ICMA Retirement Corporation, as Trustee, to
invest all funds held under the deferred compensation plan through the
ICMA Retirement Trust as soon as is practicable ; and
Section 4: That the Personnel Director shall be the coordinator
for this program and shall receive reports, notices , etc . from the ICMA
Retirement Corporation as Administrator, 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 .
Section 5. That all resolutions or parts of resolutions in
conflict herewith be repealed to the extent of such contract ; and
Section 6. That this resolution shall be in force and take effect
immediately upon its passage and adoption. �.
PASSED and ADOPTED on the 23rd day of August 1988.
ATTEST: MAYOR - COMMISSIPNER
CITY CLERK-AUDITOR
APPROVED FOR FORM
ANAND
� CORRECTNESS v
BY: "� e. G�—
Frank C. Adler, City Attorney
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RESOLUTION NO. 33-88
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