12/16/2008 Resolutions 2008-360RESOLUTION 2008-360
WHEREAS, the Grand Island City Council, pursuant to its authority to adopt
employee benefit programs, wishes to adopt plan documents to make the benefits of the UNIFI
(Ameritas) Company, Security Benefit Company, and Wells Fargo Company Deferred Compensation
Plans available to it's Employees (the "Plans"); and
WHEREAS, the Council wishes to take any action necessary to adopt such trust
accounts, annuity contracts or custodial accounts as are necessary to establish funding vehicles with
these fines affiliates for the Plan, to receive and invest contributions in such investment options as are
selected by Employees participating in the Plan; and
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that:
The form of the plan documents for these firm's 457 Deferred Compensation Plans
are hereby approved and adopted for the benefit of Employees of the Employer; and
FURTHER RESOLVED, that pursuant to the Plans, The Council further
establishes funding accounts with these firms for receipt of the investment contributions made
under the Plans, as directed by participating Employees; and
FINALLY RESOLVED, that the City Finance Director in coordination with the
Human Resources Department, is hereby authorized and directed to execute the plan
documents for these Plans in substantially the form presented to this council, to communicate
the terms of these Plans to Employees, to designate Employees as eligible for participation in
these Plans in accordance with terms of the Plans, to enter into agreements with the Plans
participants for participation, including Salary Reduction Agreements, and to take such further
actions as may be necessary and appropriate to implement these Plans and effectuate the terms
and intent of these resolutions.
Adopted by the City Council of the City of Grand Island, Nebraska, December 16, 2008.
Margaret ornady, Mayor
Attest:
RaNae Edwards, City Clerk
A roved as to Form c ~,.r% 1!
December 15, 2008 ~ CityAttorney