1975-431
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dESOLUTION NO. 75R- 431
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM APPROVING AND ADOPTING AN EMPLOYEES
DEFERRED COMPENSATION PLAN AND AUTHORIZING
THE EXECUTION OF .l-\GREEMENTS RELATING TO SAID
PLAN BY THE CITY TREASURER.
WHEREAS, the City of Anaheim has in its employ
employees who are and will be rendering valuable services to
the City; and
WHEREAS, said employees may desire to defer income
until retirement for the purpose of deferring Federal and
State Income Taxes on said income; and
"\-lHEREAS, the City Council of the City of Anaheim
has considered the establishment of a Deferred Compensation
Plan for the said employees and believes that the adoption of
said plan will enhance the efficiency and morale of the
employees and will be in the best interests of the City; and
WHEREAS, it is intended that said Plan shall be in
accordance with Federal ,and State law and regulations; and
wHEREAS, the City Council finds that it would be for
the benefit and in the best interests of the City to approve
the proposed Deferred Compensation Plan this day submitted to
the City Council.
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Anaheim that the City of Anaheim establish
said Deferred Compensation Plan for sai.d employees of the
City and that said Deferred Compensation plan this day sub-
mitted to the City Council, which is attached hereto as
~xhibit nAil be, and the same is hereby approved and adopted,
to be effective August 5, 1975, and to remain in effect until
terminated by further resolution of the City Council.
. .
BE IT FURTHER RESOLVED that the City ~reasurer be,
and he is hereby authorized to execute the Deferred .Compensation
Deposit Agreement with Glendale Federal Savings and Loan
Association, attached hereto as Exhibit liB".
BE IT FURTHER RESOLVED that the City Treasurer may,
on behalf of the City 0".:: i\naheim, execute all Participation
Agreements with said City employees and other eli9ible officials
and officers, which are necessary for said person s participation
in the plan, except that any Participation Agreement for the
City Treasurer shall be executed by the City Manager.
THE FOREGOING RESOLUTION is
(TIe thi.s ~ day of AngJ'af-
by
M
ATTEST:
.J -, /