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<br />RESOLUTION NO.: RES 060506 (c) <br /> <br />RESOLUTION FOR A LEGISLATIVE BODY RELATING TO <br />A MONEY PURCHASE PLAN. <br /> <br />RESOLUTION OF THE CITY OF UNIVERSITY CITY, MISSOURI. <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 Employer desires that its money purchase retirement plan be <br />administered by the ICMA Retirement Corporation and that the funds held such plan be invested <br />in the Vantage Trust, a trust established by public employers for the collective investment of <br />funds held under their retirement and deferred compensation plans: <br /> <br />NOW THEREFORE BE IT RESOLVED that the Employer hereby establishes or has <br />established a money purchase retirement plan (the "Plan") in the form of: (Select one) <br /> <br />o The ICMA Retirement Corporation Governmental Money Purchase Plan & Trust, <br />pursuant to the specific provisions of the Adoption Agreement (executed copy attached <br />hereto) . <br /> <br />o The Plan and Trust provided by the Employer (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 Employer hereby executes the Declaration of <br />Trust of the Vantage Trust, and attached hereto as Appendix B, intending this execution to be <br />operative with respect to any retirement or deferred compensation plan subsequently established <br />by the Employer, if the assets of the plan are to be invested in the Vantage Trust. <br /> <br />BE IT FURTHER RESOLVED that the Employer hereby agrees to serve as trustee <br />under the Plan and to invest funds held under the Plan in the Vantage Trust; and <br /> <br />BE IT FURTHER that the Director of Finance shall be the coordinator for the Plan; <br />shall receive reports, notices, etc., from the ICMA Retirement Corporation or the Vantage Trust; <br />shall cast, on behalf of the Employer, any required votes under the Vantage Trust; may delegate <br />any administrative duties relating to the Plan to appropriate departments; and <br /> <br />BE IT FURTHER RESOLVED that the Employer hereby authorizes the Director of <br />Finance to execute all necessary agreements with the ICMA Retirement Corporation incidental <br />to the administration of the Plan. <br />