1981-57 RESOLUTION NO. 81-57
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAND TERRACE, CALIFORNIA, RESCINDING RESOLUTION
NO 79-48, AND ADOPTING AN EMPLOYEE'S DEFERRED
COMPENSATION PLAN AND AUTHORIZING THE EXECUTION
OF AGREEMENTS RELATED TO SAID PLAN BY THE CITY
MANAGER.
WHEREAS, Resolution No. 79-48 established a Deferred Compensation Plan
for its employees who are and will be rendering valuable services to the City;
and
WHEREAS, as the result of a survey taken comparing benefits of local
and contract cities, it has been determined there is a need to increase the
percentage contributed by the City to the Deferred Compensation Plan ;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GRAND TERRACE DOES
HEREBY RESOLVE, DETERMINE, AND DEMAND AS FOLLOWS:
SECTION 1. That Resolution No. 79-48 is hereby rescinded in its
entirety.
SECTION 2. That the Deferred Compensation Plan established by Council
effective November 30, 1978, attached hereto and incorporated herein as
Exhibit "A", is to remain in effect until terminated by further resolution of
the City Council .
SECTION 3. That the City Manager and the Finance Officer are hereby
authorized to cause to be issued deposits that may be necessary to maintain
the percentage rate.
SECTION 4. That effective July 1, 1981, the compensation paid by the
City to the Deferred Compensation Plan be increased from 9.0% to 15.6%.
SECTION 5. That the City Manager is hereby appointed to administer
the §plan on behalf of the City and is authorized to execute participation
agreements with eligible officers, officials, and employees and all other
documents and agreements necessary to implement and administer the Plan.
ADOPTED this loth day of September, 1981.
ATTEST:
Mayo of the C' o r T race
Cty// irk of t e City of Grand and of the ty Cou 1 the e f.
T�Tf�ce-;end of the City Council
% App oved as to form:
City Attorney
i
STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO ) ss.
CITY OF GRAND TERRACE )
I, MYRNA LINDAHL, City Clerk of the City of Grand Terrace, DO
HEREBY CERTIFY that the foregoing Resolution was duly adopted by the
City Council of said City at a regular meeting of the City Council
held on the loth day of September, 1981, and that it was so adopted by
the following vote:
AYES: Councilmen Grant, Petta, Nix, Rigley;
Mayor Tillinghast.
NOES: None
ABSENT: None
City C e,jk of the City of Grand Terrace
and of the City Council thereof.
-------------
STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO ) ss.
CITY OF GRAND TERRACE )
I, MYRNA LINDAHL, City Clerk of the City of Grand Terrace, DO
HEREBY CERTIFY that the above and foregoing is a full , true, and
correct copy of Resolution No. 57 of said City, and that the same has
not been amended or repealed.
DATED: September 10, 1981
r
City erk of the City of Grand Terrace
and 6T the City Council thereof.