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City of ORONO <br />RESOLUTION OF THE CITY COUNCIL COUNCIL MEETING <br />NO' MAY 13 1983 <br />RESOLUTION <br />• e CITY OF ORONO <br />HENNEPIN COUNTY, MINNESOTA CITY 01. ORONO <br />A RESOLUTION ESTABLISHING A <br />DEFERRED COMPENSATION'PLAN <br />WHEREAS, the City of Orono has in its employ certain <br />personnel; and, <br />WHEREAS, said employees are and will be rendering valuable <br />services to the City of Orono; and, <br />WHEREAS, the City of Orono has considered the establishment <br />of a Deferred Compensation Plan for the said employees made available <br />to the City end to said employees by the International City Management <br />Association Retirement Corporation; and <br />WHEREAS, said employees often are triable to acquire retire- <br />ment security under other existing and available retirement plans due <br />to the contingencies of employment mobility; and <br />WHEREAS, the City of Orono receives benefits under said <br />plans by being able to assure reasonable retirement security to said <br />employees, by beinr more able to attract coapetent personnel to its <br />service, and by increasing its flexibility in personnel management <br />through elimination of the need for continued employment for the sole <br />purpose of allowing an employee to qualify for retirement benefits; <br />NOW, THEREFORE, BE IT RESOLVED that the ;y of Orono <br />establish said Deferred Compensation plan for sail e. ,jl yees and <br />hereby authorizes its Mayor to execute the Deferred Compensation Plan <br />with the International City Management Association Retirement Cor- <br />poration, attached hereto as Appendix A; and, <br />IT IS FURTHER RESOLVED that the City Administrator, may, on <br />behalf of the City of Orono, execute all Joinder Agreements with said <br />employees and other eligible officials and officers, which are neces- <br />sary for said persons participation in the Plan, an example of which <br />appears at Appendix B, except that any Joinder Agreement for said <br />designated official shall be executed by the Mayor. <br />ADOPTED this the 13th day of May, 1985, by the City Council <br />of the City of Orono, Hennepin County, Minney a. <br />SIGNED: <br />ATTEST: Mary C. Butler, Mayor <br />Mark E. Rernhardson, City Administrator <br />