HomeMy Public PortalAboutRES 86/09RESOLUTION NO. 86- 9
A RESOLUTION FOR ADOPTING THE IDS FINANCIAL SERVICES INC.
FOR THE TOWN OF GULF STREAM, FLORIDA, PLAN NO. 2367.
MEETING OF THE TOWN COMMISSION OF THE TOWN OF GULF STREAM, FLORIDA.
A meeting of the Town Commission of the Town of Gulf Stream, Florida,
was held on the 3rd day of October, 1986, at the offices of the Town,
located at 100 Sea Road, Gulf Stream, Florida.
There was presented to the meeting the IDS Financial Services Inc.
Money Purchase Plan # 8, Plan No. 2367, which included the full text
of the proposed plan and trust and related adoption agreement for the
employees of the Town as approved by the Town counsel. This plan shall
be known as the Town of Gulf Stream Pension Plan, hereinafter referred
to as the "Plan ". The same was discussed and ordered annexed to
these minutes.
UPON MOTION DULY MADE, SECONDED, AND DULY CARRIED, IT WAS
RESOLVED, that the Town accept and adopt the Plan as presented, and for
such to be effective as of the 1st day of October, 1984. (Except for
paragraph 4.01 which shall be effective for the September 30, 1986 Plan
year and thereafter.)
FURTHER RESOLVED, that the officers of the Town be and hereby are authorized
and directed to execute in the name and on behalf of the Town and under its
Town seal such agreements as may be necessary for the initiation and
continuity of the plan.
FURTHER RESOLVED, that such sums of money as may be necessary according
to the said agreement or agreements to provide benefits and to meet the
expenses incurred in the administration thereof, shall, from time to time,
be paid out of the funds of the Town by its Treasurer, to the order of the
Trustees.
FURTHER RESOLVED, that William E. Gwynn, Brian Pfeifler, and W. F. Souder
be and hereby are authorized, directed and designated as Trustees under
said agreement to administer the funds entrusted to them under said
agreement for such Plan.
FURTHER RESOLVED, that the officers of the Town be and they hereby are
authorized and directed to execute in the name of and on behalf of the
Town, and under its Town seal, any amendments to the Adoption Agreement
attached to the Plan to meet the requirements of Section 401(a) of the
Internal Revenue Code of 1954, as amended, unless such amendments would
cause the Plan to lose its prototype status.
FURTHER RESOLVED, that the Limitation Year for the purposes of the Plan
shall be the same as the Plan Year selected in the Plan documents.
PASSED AND ADOPTED ON THE u1, DAY OF D <G,�t� , 1986.
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VICE MAYOR
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COMMISSIO
ATTEST:
TOWN CLERK
COMMISSIONER
COMMISSIONER