01/24/2017 Resolutions 2017-10RESOLUTION 2017-10
WHEREAS, the Grand Island City Council, pursuant to its authority to adopt
employee benefit programs, wishes to adopt and approve plan documents to make the benefits of
Union Bank and Trust's ("UBT") Deferred Compensation Plan (the "Plan") available to
employees of the City of Grand Island; and
WHEREAS, the Council desires to take and authorize action necessary to adopt
such trust accounts, annuity contracts or custodial accounts as are necessary to establish funding
vehicles with UBT or its affiliates for the Plan and to permit it or them to receive and invest
contributions in such investment options as are selected by Employees participating in the Plan.
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 the Plan provided by UBT is hereby approved
and adopted for the benefit of Employees of the City of Grand Island; and
FURTHER RESOLVED, that pursuant to the Plan, the Council further establishes
funding accounts with UBT for receipt of the investment contributions made under the Plan, 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 the Plan in substantially the form presented to this council, to communicate the terms of the
Plan to Employees, to designate Employees as eligible for participation in the Plan in accordance
with terms of the Plan, to enter into agreement with the Plan 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 the resolution.
Adopted by the City Council of the City of Grand Island, Nebraska, January 24, 2017.
ATTEST:
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RaNae Edwards, City Clerk
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Approved as to Form tt
January 23, 2017 i ttorney