HomeMy WebLinkAboutResolution No. 00-C0520
RESOLUTION 00-052
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RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA
ADOPTING THE AMENDED AND RESTATED PUBLIC AGENCY
RETIREMENT SYSTEM TRUST AGREEMENT
Whereas the City is a member of the PublicAgency Retirement system (PARS) for the purpose
of providing tax qualified retirement benefits,
Whereas the City provides a Qualifying Retirement System for its employees, thereby meeting
the requirements of Section 11332 of the Omnibus Budget Reconciliation Act (OBRA 90) AND
Section 3121 (b)(7)(F) of the Internal Revenue Code (IRC),
Whereas PARS, a government trust, has been adopted by the City that qualifies under
California Government Code Sections 53,000 and 20,000, OBRA 90 Section 11332, IRC Sections
3121 (b)(7)(F) and 401(a), and meets the meaning of the term "retirement system" as given by
Section 218(b)(4) of the Federal Social Security Act.
Whereas the City is a member of the PARS trust:
NOW THEREFORE, be it resolved that:
1. The City Council hereby adopts the Amended and Restated PARS Trust Agreement,
effective May 1, 2000; and
2. The City Council hereby appoints the City Manager or his/her success or his/her designee
as the City's Plan Administrator for the Public Agency Retirement System; and
3. The City's Plan Administrator is hereby authorized to execute the PARS legal documents
on behalf of the City and to take whatever additional actions are necessary to maintain the
E'Citin PARS and to maintain PARS compliance of any relevant regulation
or as may be issued; therefore, authorizing him/her to take whatever additional
are required to administer the City's PARS plan.
ANVAPRWVFD Zt41S)X Day of May, 2000.
I HEREBY CERTIFY that the foregoing resolution was duly adopted by the City Council of the
City of Azusa at a regular meeting thereof on the 1" Day of May, 2000, by the following vote of the
Council:
AYES: COUNCIL MEMBERS:HARDISON, STANFORD, ROCHA, BEEBE, MADRID.
NOES: COUNCIL MEMBERS: NONE
A�C C M BER .'NONE
CITY CLERK
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EXHIBIT "A"
ADOPTION AGREEMENT
TO THE
PARS TRUST AGREEMENT
Member Agency: City of Azusa
Plan Name: PARS Alternate Retirement System
Plan Administrator: Rick Cole
Title: City Manager
Address: P.O. Box 1395
Azusa, CA 91702
The above referenced California public agency ("Member Agency") adopts the PARS Trust
Agreement, as amended and restated effective 7/1/99, as the trust portion ("Agency Trust")
of the above referenced qualified plan ("Plan"), effective as of the date set out below.
Pursuant to resolution number 00-052 , dated 5/1/00 , which authorizes the adoption
of the PARS Trust Agreement and names the above referenced individual by position of
employment to act on behalf of the Member Agency in all matters relating to the Member
Agency's participation in the PARS Trust Program and Agency Trust ("Plan Administrator"),
the Plan Administrator certifies the following entities within the Agency Trust:
TRUSTEE:
TRUST ADMINISTRATOR:
INVESTMENT FIDUCIARY:
Date:
ACCEPTED:
Union Bank of California N.A.
Phase II Systems
Union Bank of California N.A., acting through its affiliate
Highmark Capital Management
Title:
Trust Admin' ter: Ptla�ystems
By: Title: City Manager
Date: May 1, 2000
Trustee and Investment Fiduciary: Union Bank of California, N.A.
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