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RESOLUTION NO. 5723
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARCADIA ADOPTING A SECOND EMPLOYEES' DEFERRED
COMPENSATION PLAN AND AUTHORIZING THE EXECUTION OF
AGREEMENTS RELATED TO SAID PLAN BY THE PLAN ADMINISTRATOR
WHEREAS, the City of Arcadia has in its employ employees who
are and will be rendering valuable services to the City; and
WHEREAS, said employees may desire to defer income until
retirement for the purpose of deferring Federal and State Income
Taxes on said income; and
WHEREAS, the City Council by Resolution 4929 has established
a Deferred Compensation Plan for said employees and believe that a
second plan will enhance the efficiency and morale of the employees
and will be in the best interest of the city; and
WHEREAS, it is intended that said Plan shall be in accordance
with Federal and State law and regulations; and
WHEREAS, the city Council finds that it would be for the
benefit and in the best interests of the City to approve the
proposed second Deferred Compensation Plan this day submitted to
the City Council.
NOW, THEREFORE, THE City council of the city of Arcadia does
hereby find, determine and resolve as follows:
section 1.
That the City Council establish said Second
Deferred Compensation Plan for said employees of the City and that
said Deferred Compensation Plan remain in effect until terminated
by further resolution of the City Council.
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Section 2.
That the Director of Finance,
as Plan
Administrator, may, on behalf of the City execute all Participation
Agreements with said City employees and other eligible officials
and officers, which are necessary for said person's participation
in the Plan.
Section 3.
That the city Clerk shall certify to the
adoption of this resolution.
Passed, approved and adopted t~is 20th day of April 1993.
Attest:
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5723
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES SS:
CITY OF ARCADIA
I, JUNE D. ALFORD, City Clerk of the city of Arcadia, hereby
certify that the foregoing Resolution No. 5723 was passed and
adopted by the City Council of the city of Arcadia, signed by the
Mayor and attested to by the City Clerk at a regular meeting of
said City Council held on the 20th day of Aprilf 1993 and that said
Resolution was adopted by the following vote, to wit:
AYES: Councilmember Fasching, Harbicht, Lojeski, Margett
and Ciraulo
NOES: None
ABSENT: None
J
lerk of
f Arcadia
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5723