1984-024 - Project plan for projects entitled Landfill

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RESOLUTION NO. 84 -024 WHEREAS, the City of Paris has employees rendering valuable services; and, WHEREAS, the establishment of a deferred compensation plan for such employees will serve the interests of the City of Paris by enabling it to provide reasonable retirement security for its employees, by providing increased flex- ibility in its personnel management system, and by assisting in the attraction and retention of competent personnel; and, WHEREAS, the City Council of the City of Paris 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 Paris 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 Trust, a trust established by public employers for the purpose of representing the interests of such employers with respect to the collective investment of funds held under their deferred compensation plans; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that the City Council of the City of Paris adopts the deferred compensation plan, attached hereto as Appendix A, and appoints the ICMA Retirement Corporation to serve as Administrator thereunder; and, BE IT FURTHER RESOLVED that the Mayor of the City of Paris, Joe Graham, be, and he is hereby authorized and directed to execute on behalf of the City of Paris the ICYA Retirement Trust, attached hereto as Appendix B; and, BE IT FURTHER RESOLVED that the City Council of the City of Paris hereby adopts the trust agreement, attached hereto as Appendix C, 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, BE IT FURTHER RESOLVED that the Director of Finance of the City of Paris shall be the coordinator for this program and shall receive necessary reports, notices, etc. from the ICMA Retirement Corporation as Administrator, and shall cast, on behalf of the City of Paris, any required votes under the program. Administrative duties to carry out the plan may be assigned to the appropriate departments. Passed and adopted this 16th day of April, 1984. 0 0_"- AJ'0'� oe Graham, Mayor + ATTEST: H. G-.-Greene, City C er APP OVED 0 FORM: aynes, ity Attorney