HomeMy Public PortalAboutRES 77/07RESOLUTION NO. 77-7
A RESOLUTION OF THE TOWN OF GULF STREAM, PALM BEACH COUNTY,
FLORIDA, RESOLVING THAT THE TOWN ACCEPT AND ADOPT THE IDS
PROTOTYPE PENSION PLAN AS PRESENTED.
WHEREAS, a meeting of the Town Commission, Town of Gulf Stream,
Florida, was held on the 11th day of November, 1977 at the location at
246 Sea Road, Gulf Stream, Florida, at which all Commissioners were present;
and,
WHEREAS, there was presented to the meeting the IDS Prototype
(Pension) Plan which included the full text of a proposed plan and trust for
the employees of this Town as approved by the Town's council. The same was
discussed and ordered annexed to these minutes; and,
NOW THEREFORE BE IT RESOLVED BY THE TOWN COMMISSION OF THE TOWN
OF GULF STREAM, FLORIDA:
Section 1. That the Commissioners of this Town be and they hereby
are authorized and directed to execute the same and on behalf of this Town
and under its corporate seal such agreement or agreements as may be necessary
for the initiation and continuity of the plan.
Section 2. 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.
Section 3. That William Gwynn, Brian Pfeifler, W.F. Souder, be and
they are hereby authorized, directed and designated as Trustees under said
agreement to administer the funds entrusted to them under said agreement for
such plan.
Section 4. That the Trustees of this Town be and they hereby are
authorized and directed to execute in the name of and on behalf, of this Town,
and under its corporate seal, any amendments to the Adopting Instrument attached
to the IDS Prototype (Pension) Plan to meet the requirements of Section 401
(a) of the Internal Revenue Code of 1954, as amended, even though such amend-
ments may cause the Plan to no longer be a part of the IDS Prototype (Pension)
Plan.
JOHNSTON
SABBER & RANDOLPH
310 OKEECHOBEE RD.
VEST PALM BEACH. FLA.
33402
SECTION 5. That the Limitation Year for the purposes
of the plan shall be the same as the plan year selected in the plan
documents.
ATTEST:
JOHNSTON
SASSER h RANDOLPH
310 OKEECNOBEE RD.
NEST PALM BEACH. FLA.
33402
PASSED AND ADOPTED in regular session on this // day of
/V v , 1977.
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