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RESOLUTION <br /> <br />City of University City <br /> <br />WHEREAS, the City of University City has employees rendering valuable services; and <br /> <br /> WHEREAS, the establishment of a money purchase retirement plan benefits employees <br />by providing funds for retirement and funds for their beneficiaries in the event of death; and <br /> <br /> WHEREAS, the City of University City desires that its money pumhase retirement plan <br />be administered by the ICMA Retirement Corporation and that funds held under such plan be <br />invested in the ICMA Retirement Trust, a trust established by public employers for the collective <br />investment of funds held under their retirement and deferred compensation plans: <br /> <br /> NOW THEREFORE BE IT RESOLVED that the City of University City hereby <br />establishes a money purchase retirement plan (the "Plan") in the form of: <br /> <br /> The ICMA Retirement Corporation Governmental Money Purchase Plan & Trust <br />pursuant to the specific provisions of the Adoption Agreement (executed copy attached hereto). <br /> <br />The Plan shall be maintained for the exclusive benefit of eligible employees and their <br />beneficiaries; and <br /> <br /> BE IT FURTHER RESOLVED that the City of University City hereby executes the <br />Declaration of Trust of the ICMA Retirement Trust, attached hereto, intending this execution to <br />be operative with respect to any retirement or deferred compensation plan subsequently <br />established by the City of University City, if the assets of the plan are to be invested in the ICMA <br />Retirement Trust. <br /> <br /> BE IT FURTHER RESOLVED that the City of University City hereby agrees to serve as <br />trustee under the Plan and to invest funds held under the Plan in the ICMA Retirement Trust; and <br /> <br /> BE IT FURTHER RESOLVED that the City Manager shall be the coordinator for the <br />Plan; shall receive reports, notices, etc. from ICMA Retirement Corporation or the ICMA <br />Retirement Trust; shall cast, on behalf of the City of University City, any required votes under <br />the ICMA Retirement Trust; may delegate any administrative duties relating to the Plan to <br />appropriate departments; and is authorized to execute all necessary agreements with the ICMA <br />Retirement Corporation incidental to the administration of the Plan. <br /> ADOPTED C~/.~ ~ . 2001. <br /> <br /> <br />