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R81- 45 RESOLUTION CITY OF LAKE ELMO WASHINGTON COUNTY, MINNESOTA_ RESOLUTION AUTHORIZING AGREEMENT WITH CITY ADMINISTRATOR RELATING TO DEFERRED COMPENSATION WHEREAS, Laurence E. Whittaker ("Whittaker"), City Administrator of the City of Lake Elmo has elected to be excluded from membership in the Public Employees Re- tirement Association, which election has been approved by the City Council.; and, WHEREAS, prior to such action the City has contributed an employer's contribution to the Public Employees Re- tirement Association for his account in accordance with Minnesota Statutes, Section 353.025, Subdivisions 3 & 3a; and, WHEREAS, by reason of such election, the City's employer contribution to PERA on his account will cease; and, WHEREAS, Minnesota Statutes, Section 353.025, Subdivision 3, provides as follows: "DEFERRED COMPENSATION: CITY CONTRIBUTION. If an election of exclusion is made, and if the City Manager and the governing body of the City agree in writing that the additional compensation is to be deferred and shall be contributed on be- half of the City Manager to a deferred compensation program which meets the requirements of Section 457 of the Internal Revenue Code of 1954, as amended through December 31, 1980, the governing body may compensate the City Manager, in addition to the salary allowed under any limitation imposed on salaries by law or charter, in an amount equal to the employer contribution which would be required by Section 353.27, Subdivision 3, if the City Manager were a member of the association." WHEREAS, the City Council desires to exercise the authority conferred by the aforementioned Subdivision 3, and the addi- tional compensation now appropriated per aforementioned Sub- division 3a. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lake Elmo, Minnesota, as follows: