1997-26 RESOLUTION NO. 97 26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAND TERRACE,CALIFORNIA,ADOPTING THE PUBLIC
AGENCY RETIREMENT SYSTEM (PARS) TRUST,
DESIGNATING THE CITY MANAGER AS THE CITY
ADMINISTRATOR FOR PARS AND AUTHORIZING
EXECUTION OF THE PARS ADOPTION AGREEMENT
WHEREAS,it is determined to be in the best interest of the City of Grand Terrace ("CITY")
and its employees to provide a Qualifying Retirement System to all employees not currently eligible
for such a Qualifying Retirement System, thereby meeting the requirements of Section 11332 of the
Omnibus Budget Reconciliation Act and Section 3 12 1(b)(7)(F) of the Internal Revenue Code; and
WHEREAS,the Public Agency Retirement System (PARS), a governmental plan, has made
such a System available to the CITY and its eligible employees, and qualifies under California
Government Code Sec. 20,000, Section 11332 of the 1990 Omnibus Budget Reconciliation Act
(OBRA 90), and meets the meaning of the term"retirement system" as given by Section 218(b)(4)
of the Federal Social Security Act;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GRAND TERRACE
DOES HEREBY RESOLVE, DETERMINE, AND ORDER AS FOLLOWS:
(1) The COUNCIL does hereby adopt the PARS Trust, including the PARS Alternate
Retirement System (ARS),. effective September 22, 1997, the Effective Date for the benefit of
employees on that date and hired thereafter; and
(2)The COUNCIL hereby appoints the City Manager, or the designee of the City Manager,
as CITY Administrator for PARS, and further authorizes him/her to implement the Plan.
(3) The CITY's PARS Administrator is hereby authorized to execute the PARS Adoption
Agreement on behalf of the CITY and to take whatever additional actions that are necessary to
maintain the participation of the CITY in PARS and to maintain PARS compliance with Section
11332 of the ACT and relevant regulations issued or as may be issued.
PASSED, APPROVED, AND ADOPTED this llth day of September, 1997.
ATTEST:
City Clerk of the City of and Terrace and of yor of the City of brand Terrace
f. yandof
the City.Council thereo the City Council thereof.
RESOLUTION NO. 97-26
I, Brenda Stanfill, City Clerk of the City of Grand Terrace, do hereby certify that the
foregoing Resolution was introduced and adopted at a regular meeting of the City Council of the City
of Grand Terrace held on the 1 lth day of September, 1997, by the following vote:
AYES: Councilmembers Hilkey, Singley, and Garcia; Mayor Pro Tem
Buchanan; Mayor Matteson
NOES: None
ABSENT: None
ABSTAIN: None
Approved as to form:
City Clerk
City Attorney