HomeMy WebLinkAboutResolution 521
RESOLUTION NO.~21
RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF GILROY, AUTHORIZING
THE EXECUTION OF GROUP ANNUITY CONTRACT NUMBER G 5449 OF PACIFIC
MUTUAL LIFE INSURANCE COMPANY, AS A PART OF THE RETIREMENT PROGRAM
FOR THE EMPLOYEES OF THE CITY OF GILROY.
WHEREAS, The Common Council of the City of Gilroy has hereto-
fore adopted Ordinance Number 603 creating a retirement program for
the employees of the City of Gilroy; and,
WHEREAS, the said program required the procurement from such
insurance company as might be selected by the Common Council, annuities
for and to be paid to the employees who may become eligible thereto,
upon and during their retirement; and,
WHEREAS, the said Common Council did,after competitive bidding,
select the contract offered by the Pacific Mutual Life Insurance Com-
pany as the contract contemplated by the aforesaid ordinance Number
603, and said Pacific Mutual Life Insurance Company has submitted the
said agreement to the Common Council of the City of Gilroy for appro-
val and adoption, the said agreement being designated as Group
Annuity Contract No. G-5449, with the effective date of January 1,
1959, and the said agreement having been duly considered;
NOW, THEREFORE, BE IT RESOLVED that the aforesaid contract
with the said Pacific Mutual Life Insurance Company be and the same
is hereby approved and the Mayor of the City of Gilroy is authorized
to execute the same on behalf of the City of Gilroy.
PASSED AND ADOPTED this 3rd day of August, 1959, by the
following vote:
AYES:
COUNCILMEN: Pate, Rush,Petersen, Wentworth, Jordan
NOES:
COUNCILMEN: None
ABSENT:
COUNCILMEN: Gallo
APPROVED:
~~/ ..7
{/~/ R
dl./''rJ7J/~7J
/' YOR / .
/ c
/
ATTEST:
{7 qr
'~." //
A:1~ ~/'v~/
CITY CLERK
L
:)
~~/