R135 CITY OF KENNEDALE, TEXAS
RESOLUTION NO 135
A RESOLUTION RELATING TO
AMENDING A DEFERRED COMPENSATION PLAN
Plan Number: 300402
Name of Employer: CITY OF KENNEDALE State: TEXAS
WHEREAS, the City of Kennedale, Texas has employees rendering valuable services; and
WHEREAS, the City of Kennedale, Texas has established a deferred compensation plan for
such employees that serves the interest of the City of Kennedale, Texas 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, Texas has determined that the continuance of the
deferred compensation plan will serve these objectives; and
WHEREAS, amendments to the Internal Revenue code have been enacted that require
changes to the structure of and allow enhancements of the benefits of the deferred
compensation plan:
NOW THEREFORE BE IT RESOLVED that the City of Kennedale, Texas hereby amends
and restates the deferred compensation plan (the "Plan ") in the form of
The ICMA Retirement Corporation Deferred Compensation Plan and Trust
BE IT FURTHER RESOLVED that the assts of the Plan shall be held in trust, with the City
of Kennedale, Texas serving as trustee ( "Trustee "), for the exclusive benefit of Plan
participants and their beneficiaries, and the assets shall not be diverted to any other purpose.
The Trustee's beneficial ownership of Plan assets held in VantageTrust shall be held for the
further exclusive benefit of the Plan participants and their beneficiaries;
BE IT FURTHER RESOLVED that the City of Kennedale, Texas hereby agrees to serve as
Trustee under the Plan.
PASSED AND APPROVED THIS 13 DAY OF DECEMBER 2001.
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" 's9 ES . Q'= Ci Secret yak
I, Kathy Turner, City Secretary of the City of Kennedale, Texas, do hereby certify that
the foregoing resolution, proposed by Council members of the City of Kennedale, Texas, was
duly passed and adopted in the Council of the City of Kennedale, Texas at a regular meeting
thereof assembled this 13 day of December 2001 by the following vote:
AYES: Mayor Pro -Tem Ron Kovach, Councilmembers Clark, Barrett, and Vaughn
NAYES: None
ABSENT: Mayor Mark Wright, Councilmember Hoover
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y �,,,, ,, • • • tc� Kathy Turner, ity Secretary
c G� ;'• • '9 City of Kennedale, Texas
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