HomeMy WebLinkAboutResolution 96-26 06/17/1996
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RESOLUTION
NO. 96- 26
A RESOLUTION OF THE CITY OF SPRINGFIELD AMENDING THE CITY OF
SPRINGFIELD, OREGON MONEY PURCHASE PENSION PLAN TRUST AND
APPOINTING AN INVESTMENT MANAGER UNDER SUCH TRUST.
WHEREAS, May 15, 1995 the Cornmon Council of the City of
Springfield by Resolution 95-42 adopted the City of Springfield,
Oregon Money Purchase Pension Plan Trust (the "Trust") ; and
WHEREAS, Section 4.4 of the Trust authorizes the Cornmon
Council of the City of Springfield to appoint one or more
Investment Managers to manage and direct the investment of all or
any specified portion of the Trust Fund; and
WHEREAS, the City of Springfield finds it appropriate to
restate the Trust and to appoint Union Bond & Trust Company as an
Investment Manager as provided in the Stable Value Fund
Participation Agreement attached hereto;
NOW, THEREFORE, BE IT RESOLVED by the Cornmon Council of the City of
Springfield as follows:
Section 1. The City of Springfield, Oregon Money Purchase
Pension Plan Trust, as restated in the form attached hereto, which
restatement is made a part of this resolution, is adopted and shall
be effective June 17, 1996.
Section 2. Union Bond & Trust Company is appointed as an
Investment Manager as provided in the Stable Value Fund
Participation Agreement as attached hereto and made a part of this
resolution.
Section 3.
of Springfield,
restated and to
Agreement.
The City Manager is directed to execute the City
Oregon Money Purchase Pension Plan Trust as
execute the Stable Value Fund Participation
ADOPTED by the Cornmon Council by a vote of
o against this 17th day of June, 199E.
5
for and
APPROVED by the Mayor of Springfield this
June, 1996.
17th
day of
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OFFICE OF CITY ATTORNEY
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