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Counc'i i_mcrn}~,}r Sort:eberg introduced the following resolution and moved for <br />its <br /> <br />RESOLUTION ~86-59 <br /> <br />ESTABLISH A MONEY PURCHASE RETIREMENT PLAN <br /> <br />W}!NPEAS, the Employer has employees rendering valuable services; <br /> <br />and <br /> <br /> wI!'t, NEAS, the establishment of a Money Purchase Plan will benefit <br />emp]o'y~,~.~: t~, providing funds for retirement and funds for their beneficiaries <br />in th~~ {,~u,i of death; and <br /> <br />,4~ EREhS, the establishment of a Money Purchase Plan will assist the <br /> attract and retain qualified personnel; and <br /> <br /> WI~[qREAS, the ~ployer desires that its Money Purchase Plan be ad- <br />minJ.sl~,~,~/ ~,7 tl~e ICMA Retirement Corporation. <br /> <br />NOW I~l.t ,~ ,i I., BiJ IT RESOLVFiD BY THE CITY COUNCIL, CITY OF RAMSEY, ANOKA <br />COI]NT¥'~ ~','~'h'I'~ OF MINNESOTA, as follows: <br /> <br /> i) That 'the Employer establishes a Money Purchase Plan in the <br />fomn o] tl,e [CMA Retirement Corporation Prototype Money Purchase Plan and <br />Trust~ ~ ~]'~, .~n: to the specific provisions of the executed Adoption Agreement. <br /> <br /> >') The Plan and the Trust forming a part hereof are established <br />and sha l. I }x~ maintained for the exclusive benefit of eligible employees and <br /> <br />The mol i,m [3~' the adoption of the foregoing resolution was duly seconded by <br />Mayor Ileiirn,:~ and upon vote being taken thereon, the following voted in <br />favor ]N,r{:.{~:: <br /> <br />qt>~q~cilmemher Cox <br />cn~mcilmember Reimann <br />,k~,~ocJlmember Sorteberg <br /> <br />and hNo 3~ ]~,,,.~Jn~ voted against the same: <br /> <br />and thc: lc,! I{,wing abstained: <br /> <br />and Lh~, f~,' lc,'wi~g were absent: <br /> <br />{ i~,; ncil member Schlueter <br /> <br />whereu]x:m :;~:[d resolution was declared duly~pass/d and adopted by the Ramsey <br />City (i~n~ ~ hhi. s the 25th day of March, 1986./~, , <br /> <br />AT2ES~x ~ _ _ _ <br /> · / ~ Mayor~ <br /> <br /> City Ad',~J ni~;t, rator <br /> <br /> <br />