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(�fT <br /> - � - - <br /> • RESOLUTION NO. -iW1 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLUTION AMENDING DEFERRED COMPENSATION PLAN <br /> WHEREAS, the City of Mounds View (the "City") has employe= rendering valuable <br /> services; and <br /> WHEREAS, the City has established a deferred compensation plan for such employees <br /> that serves the interest of the City by enabling it to provide reasonable retirement security for its <br /> employees, by providing incased flexibility in its personnel management system, and by <br /> assisting in the attraction and retention of competent personnel; and <br /> WHEREAS, the City has determined that the continuance of the deferred compensation <br /> plan will serve these objectives; and <br /> • WHEREAS, amendments to the Internal Revenue Code have been enacted that require <br /> changes to the structure of and allow enhancements of the benefits of the deferred compensation <br /> P <br /> NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Mounds <br /> View hereby amends and restates the deferred compensation plan (the "Plan.") in the form of the <br /> ICMA Retirement Corporation Deferred Compensation Plan and Trust <br /> BE IT FURTHER RESOLVED that the assets of the Plan ch 1l be held in trust, with the <br /> City sing as trustee, for the exclusive benefit of the Plan participants and their beneficiaries, <br /> and the assets chail not be diverted to any other purpose. The Trustee's beneficial ownership of <br /> Plan assets held in the ICMA Retirement Trust shall be held for the further exclusive benefit of <br /> the Plan participants and their beneficiaries; <br /> BE IT FURTHER RESOLVED that the Plan will not permit loans. <br /> • BE IT FURTHER RESOLVED that the City hereby agrees to serve as trustee under the . <br /> Plan. <br /> 1111 <br />