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Document Date: 3/28/2007
Document Type: Resolution
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Keywords(no more than 4): Amend ICMA 457 plan
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Document No. 07-11
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RESOLUTION NO. 07- 11
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on March 28, 2007 at a Regular Meeting thereof, by the following vote:
AYES: J. Cyr, M. Davey, N. Hanko, K. Nitz, C. Riffle, P. Siemens
NOES: None
ABSTAIN: None
ABSENT: L. Hassett
ATTEST: APPROVED:
Secretary esident
Board of Directors Board of Directors
I,the District Clerk of the Midpeninsula Regional Open Space District, hereby certify that
the above is a true and correct copy of a resolution duly adopted by the Board of Directors of
the Midpeninsula Regional Open Space District by the above vote at a meeting thereof duly
held and called on the above day.
District rk
RESOLUTION NO. 11
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIDPENINSUAL REGIONAL OPEN SPACE DISTRICT AMENDING AND
RESTATING THE ICMA 457 DEFERRED COMPENSATION PLAN
WHEREAS, the District has employees rendering valuable services; and
WHEREAS, the District has established a deferred compensation plan to provide reasonable
retirement security for its employees, by providing increased flexibility in deferred compensation plan
benefits, and assisting in the attraction and retention of competent personnel; and
WHEREAS, the District has determined that the continuance of the enhanced deferred
compensation plan will serve these objectives.
i
NOW, THEREFORE, BE IT RESOLVED that the Board of Directors hereby amends j
and restates the deferred compensation plan in the form of The ICMA Retirement Corporation
Deferred Compensation Plan and Trust.
II
BE IT FURTHER RESOLVED that the assets of the Plan shall be held in trust,with the
District serving as trustee, for the exclusive benefit of Plan participants and their beneficiaries,
and the assets shall not be diverted to any other purpose. The Trustee's beneficial ownership of
Plan assets held in VantageTrust shall be held for the further exclusive benefit of the Plan
participants and their beneficiaries.
BE IT FURTHER RESOLVED that the District hereby agrees to serve as Trustee under
the Plan.