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RESOLUTION NO. 1649 <br />r CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION ADOPTING THE ICMA RETIREMENT CORPORATION <br />DEFERRED COMPENSATION PLAN AND TRUST AGREEMENT, <br />AUTHORIZING EXECUTION OF THE TRUST AGREEMENT, <br />AND NAMING A PROGRAM COORDINATOR <br />WHEREAS, the City of Mounds View ("the Employer") maintains <br />a deferred compensation plan for its employees which is administered <br />by the ICMA Retirement Corporation ("the Administrator"); and <br />WHEREAS, the Administrator has recommended changes in the plan <br />document to comply with recent federal legislation and Internal <br />Revenue Service Regulations governing said plans; and <br />WHEREAS, the Internal Revenue Service has issued a private <br />letter ruling approving said plan document as complying with <br />Section 457 of the Internal Revenue Code; and <br />WHEREAS, other public employers have joined together to <br />establish the ICMA Retirement Trust for the purpose of representing <br />the interests of the participating employers with respect to the <br />collective investment of funds held under their deferred compensa- <br />tion plans; and <br />WHEREAS, said Trust is a salutary development which further <br />advances the quality of administration for plans administered by the <br />ICMA Retirement Corporation. <br />NOW, THEREFORE, DE IT RESOLVED that the Employer hereby adopts <br />the deferred compensation plan, attached hereto as Appendix A, as an <br />amendment and restatement of its present deferred compensation plan <br />administered by the ICMA Retirement Corporation, which shall continue <br />to act as Administrator of said plan; and <br />BE IT FURTHER RESOLVED that the Employer hereby executes the <br />ICMA Retirement Trust, attached hereto as Appendix B; and <br />BE IT FURTHER RESOLVED that the Employer hereby adopts the <br />trust agreement with the ICMA Retirement- Corporation, as appears <br />at Appendix C hereto, as an amendment and restatement- of its existing <br />trust agreement with the ICMA Retirement Corporation, and directs the <br />ICMA Retirement Corporation, as Trustee, to invest all funds held <br />under the deferred compensation plan through the ICMA Retirement <br />Trust as soon as is practicable; and <br />