Resolution 1996-06
~
,I':>
.
.
01
RESOLUTION NO. 96 - 6
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GILROY APPROVING ADOPTION OF
CALIFORNIA PUBLIC EMPLOYEES' DEFERRED COMPENSATION PLAN.
WHEREAS, the Employer desires to establish an additional deferred
compensation for the benefit of its employees; and
WHEREAS, the Board of Administration (the "Board") of the California
Public Employees' Retirement System ("PERS") has established the California Public
Employees Deferred Compensation Plan (the "PERS Plan") which may be adopted by a
governmental employer the employees of which are members of PERS; and
WHEREAS, the Employer believes that the PERS Plan and the investment
options available thereunder will provide valuable benefits to its employees; and
WHEREAS, the Board has appointed State Street Bank and Trust Company
and State Street Bank and Trust Company of California, N.A. (collectively, "State
Street") to perform administrative services under the PERS Plan and to act as the
Board's agent in all matters relating to the administration of the PERS Plan.
NOW, THEREFORE, BE IT RESOLVED that the Employer adopts the PERS
Plan for the benefit of its employees and authorizes and directs the City
Administrator to execute the attached adoption agreement on behalf of the Employer,
to provide State Street with such information and cooperation as may be needed on
an ongoing basis in the administration of the PERS Plan. A copy of this
resolution, the agreement, and any attachments thereto shall be on file in the
office of the City Clerk.
I
PASSED AND ADOPTED this 20th day of February, 1996, by the following
vote:
AYES:
COUNCILMEMBERS: GILROY, MORALES, ROWLISON, SPRINGER,
VALDEZ and GAGE.
NOES:
COUNCILMEMBERS: None
ABSENT:
COUNCILMEMBER: ROGERS.
:O~j~~
Mayor {I
City Clerk
RESOLUTION NO. 96 - 6
.
.
o.
I, SUSANNE E. STEINMETZ, City Clerk of the City of Gilroy, do
(
hereby certify that the attached Resolution No. 96-6
is an original
resolution, duly adopted by the Council of the City of Gilroy at a regular
meeting of said Council held on the 20th day of
at which meeting a quorum was present.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
Februarv ,19~,
Official Seal of the City of Gilroy this 21st day of
Februarv
,1996.
~~
(Seal)