Res 89-84 RESOLUTION NO. 89-84
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DELRAY
BEACH, FLORIDA, ESTABLISHING AN ICMA RETIREMENT TRUST
FOR CERTAIN CITY PERSONNEL WITH THE INTERNATIONAL CITY
MANAGEMENT ASSOCIATION RETIREMENT CORPORATION;
AUTHORIZING THE FINANCE DIRECTOR TO BE THE COORDINA-
TOR FOR THIS PROGRAM; AND AUTHORIZING THE MAYOR TO
EXECUTE THE TRUST.
WHEREAS, the City of Delray Beach, Florida maintains a Deferred Compen-
sation Plan for certain personnel which is administered by the International City
Management Association Retirement Corporation; and,
WHEREAS, other public employers have joined together to establish the ICMA
Retirement Trust for the purpose of representing the interests of the participating
employers with respect to the collective investment of funds held under their Deferred
Compensation Plans; and,
WHEREAS, said Trust is a salutary development which further advances the
quality of administration for plans administered by the ICMA Retirement Corporation.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That the City Council of the City of Delray Beach, Florida,
establishes said 'ICMA Retirement Trust for certain personnel in the City of Delray
Beach.
Section 2. That the City Council of the City of Delray Beach, Florida hereby
authorizes the Mayor to execute the ICMA Retirement Trust, attached hereto as Appen-
dix A.
Section 3. That the City Council of the City of Delray Beach, Florida
authorizes the Finance Director to be the coordinator for the ICMA Retirement Trust
program and that the coordinator shall receive necessary reports, notices, etc. from the
ICMA Retirement Corporation as Administrator, and shall cast, on behalf of the
Employer, any required votes under the program, with administrative duties to carry
out the plan assigned by the City Manager to the appropriate departments.
PASSED AND ADOPTED in regular session on this 23rd day of
October , 198 4 .
MAYOR~' ~
ATTEST: