R331 RESOLUTION NO. 331
AMENDING
ICMA SECTION 457 DEFERRED COMPENSATION PLAN
TO PERMIT LOANS FOR PARTICIPANTS
WHEREAS, the City of Kennedale has employees rendering valuable
services; and
WHEREAS, the City of Kennedale has established a retirement plan (the
"Plan ") for such employees which serves the interest of the City by enabling it to
provide reasonable retirement security for its employees, by providing increased
flexibility in its personnel management system, and by assisting in the attraction
and retention of competent personnel; and
WHEREAS, the City of Kennedale has determined that permitting
participants in the retirement plan to take loans from the Plan will serve these
objectives:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF KENNEDALE, TEXAS THAT THE PLAN WILL PERMIT
LOANS.
I, Kathy Turner, City Secretary of the City of Kennedale, Tarrant County, Texas,
do hereby certify that the foregoing resolution proposed by the Kennedale City
Council was duly passed and adopted in the Council of the City of Kennedale,
Tarrant County, Texas at a regular meeting thereof assembled this 12 day of
August 2010, by the following vote:
AYES: 4
NAYS: 0
ABSENT: Councilmember Kelly Turner
PRESENT AND NOT VOTING: Mayor Bryan Lankhorst
ATTEST: APPROVED:
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Kathy Turne , City Secretary Mayor, Bryan Lankhorst