1988-079-RES WHEREAS, the City of Paris has employees rendering valuable services; and,

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APPENDIX B DECLARATION OF TRUST OF ICMA RETIREMENT TRUST ARTICLE I. NAME AND DEFlNmONS llectIon 1.1 NIl....: The Name a the 1iust. as amended and _ henlby. is the ICMA Rotiroment Trust, Section 1.2 Definition.: __r they a'e UI8d herein. the loIJowing temlS IhaII haYe the following l85P'JCti.. meanings' (a) By-Laws.. The Sy-Laws.._1O inSec:tion 4,1 _. as amended trom time to time. (b) 00Iened Canpensation Plan, A dIIerr8d compensation plan eslObIisl1ed end maintained by I Public EmplC7f8T tor the purpose of providing retirft" ment income end other deferred benefits to G empl0:fB8S in accorCS8nce with the prtMsions a oection 457 a the Internal Revenue Code a 1954. as amended, (c) Employees, Those employees who participate in Qualified Plans, (d) EmplO'/llr Trust A trust created pursuant to an agreement between RC and I Public Employer for the purpose of i~ing and administering the funds _ aside by such EmplOfST in connection with its Deferred Campen- ution aQreemenlS with its.-npla,MS or in connection with its Qualified Plan. (e) Guaranteed Investment Contract, A contract e_ into by tIla Retire- ment 'lfust with insurance companies that provides tor . guaranteed rate of retum on irwestments made pursuant to such contract. (I) ICMA, The InlamationaJ City Management _ation, (g) ICMAJIlC _... Thosa Trust... elected by the Public EmplO'/llrs who. in IlCOOfdance with the ProviSIonS a Section 3,1(a) hereof. are also memo bers a the Board a DIrect"'" a ICMA Of RC (h) Il'1II'8Stment Adviser The Irwestment Adviser that erters into . contract with the Retirement lfust to prcMde advice with respect to investment of the _ Property, (I) PorttoliOS, The Portfolios a investments established by the Investment Adviser to the Retirement 1fust, under the supervision of the Trustees. for the puopose a prtMding investments for tIla Trust PIOp8l!y, (j) PullIic E"'IlIO'/110 TruSlllfi Those lNsIees _ by the Public EmplC>JO!S who.. ,n accordance with tIla prtMsions a!;ed;on 3,1(a) hereof. are fulHime employees a Public EmplO'/llrs, (k) Public Employer Trust... Public EmplO'/llrs who oeM as trUllees a the Qualified Plans, (1) Public Employer A unit or state or local gOYemment. Of any agency or instrumentality tIlareof. that has adopted a Deterred Compansation Plan Of . Qualified Ptan and has executed this OedIration 01 Trust. (m) Qualified Plan, A plan sponso<ed by a Public EmplO'/llr tor the purpose Gf prOYiding retirement income to tis tll"T'lployees which satisfies the qualifi. cation reQuirements 01 Section 401 01 the Internal Revenue Code, 15 ...,.,nded, (n) RC, The l_ionaJ City Management_otion Reti'ernant Corpc> ration, (0) Retirement lust. The ltust created by this Declaration c:A Trust. (P) Trust PlOp8r1y, The amounts held in the Retirament Trust on beha" ol the Put>ic EmplO')'ers in connection with Deferred Ccmpensation Plans and on behalf of the Public Employer Trustees for the e:r.clusive benefit of Employees pursuant to Quali- fied Plans. The 1tust Property shall include any income resulting trom the invest. ment a the amounts so held, (q) llust_ The Public EmplOjM T_ and ICMAJIlC Trustees elected by the Public EmplotefS to 88rw as members of the Boerd of li'ustees of the Retirement Trust, ARTICLE II. CREATION AND PURPOSE OF THE TRUST; OWNERSHIP OF TRUST PROPERTY lectlon 2.1 tNatlon: The Retiromentllust is created and established by the execution c:A this Declaration 01 Trust by the Trustees and the PubliC EmplO'/llrs, SectIon 2.2 Purpose: The purpose c:A the Retirement Trust is to provide for the commingled irwestment of funds held by the Public Employers in connec. tion with their Deferred Compensation and Qualified Plans. The Trust Prop- erty shall be inYeSted in the Portfolios. in Guaranteed Irwestment Contracts, and in OCher investments recommended by the Investment Adviser under the aJpeNison a the Board a lNsIees No part a the Trust Property will be i......ed in eecurities issued by Public EmplC1j8rs. lectlon 2.3 Ownarohlp ol1hl1l .....party: The Trustees shall ha.. legal title to the Trust Property. The Public Employers shall be the beneflcial owners of the portion of the Trust Property allocable to the Deferred Compensation Plans. The portion 01 the Trust Property allocable to the Qualified Plans shall be held tor tIla Public EmplO'/llr Trust... tor the exclu.... benefit 01 the Employees ARTICLE III. TRUSTEES lectlon 3.1 Numbe' and Qu.Uflcallon 01 Trull.... (a) The Board of Trustees shall consist of nine Trustees. Five of the Trustees IhaII be full-time empioy... 01 a Public Employer (the Public Empioyee Trustees) who .re authorized by such PublIC Employer to serve as Trustee The remaining four Trustees shall consist of two persons who, at the time of election to the Board of Trustees, .re members of the Board of Directors of ICMA and two persons who. a1the time 01 elecbon. are members of the Board a Direct"'" 01 RC (!he ICMMlC Trull"') One a the Trustees who 's. directOf of leMA, and one of the Trustees who is . director of Re, shall. at the time of Netion, be full.time employees of a PubliC Employer (b) No person may.rve as a Trustee for more than one term in any 1en-year paned, lectlon 3.2 Elactlon Ind rem. (I) Except tor the Trustees appointed to fill wcancies pursuant to Section 3.5 hereo!, the Trustees shall be elected ar . vote of 8 majority of the PubhC Employers in accordance with the procedures set torth in the By-Laws