HomeMy Public PortalAboutR1625 R E S O L U T I O N NO. 1625
WHEREAS, Centerre Trust Company, formerly St. Louis
Union Trust Company, is a party to a Trust Agreement dated as of
June 1, 1968, under The Metropolitan St. Louis Sewer District
Employees' Pension Plan (hereinafter referred to as "Plan"), and
WHEREAS, the Board of Trustees of The Metropolitan St.
Louis Sewer District (hereinafter referred to as "Board") has
appointed Mercantile Trust Company National Association as
successor trustee under that Trust Agreement as amended and
restated which is effective as of February 10, 1982, and
WHEREAS, it is necessary and desirable to formally
remove Centerre Trust Company as a trustee under the Plan;
NOW, THEREFORE, BE IT RESOLVED that Centerre Trust
Company is hereby removed as a trustee of the trust under the
Plan;
FURTHER RESOLVED the Board hereby ratifies its
appointment of Mercantile Trust Company National Association as
successor trustee of the Plan;
FURTHER RESOLVED the Board and the Pension Committee of
the Plan (hereinafter referred to as "Pension Committee") shall
and do hereby accept the Resignation of Trustee executed by
Centerre Trust Company which is attached hereto and marked Exhibit
A;
FURTHER RESOLVED the Board shall and does hereby waive
the sixty-day written notice provision as provided in Paragraph 8
of the Trust Agreement dated June 1, 1968 (hereinafter referred to
as "Notice") and authorizes, empowers and directs the Pension
Committee to waive said notice and further authorizes, empowers
and directs the authorized representative of the Board and the
Pension Committee respectively to execute the "Acceptance of
Resignation and Notice of Waiver" which is attached hereto and
marked Exhibit A;
FURTHER RESOLVED the Board does hereby acknowledge that
Centerre Trust Company has waived said Notice as evidenced by the
terms of its resignation which is marked Exhibit A;
FURTHER RESOLVED that Centerre Trust Company be
directed to transfer all assets which it holds as trustee to
Mercantile Trust Company National Association as soon as is
administratively feasible;
FURTHER RESOLVED that the Executive Director is
expressly authorized to take such additional actions as may be
necessary or appropriate to carry out the objectives of the
foregoing resolutions.
3
The foregoing Resolution was adopted February 24, 1982.