R-4576
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RESOLUTION NO. 4576 (ees)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA MONICA APPROVING AN EHPLOYEES' DEFERRED
COMPENSATION PLAN AND AUTHORIZING ITS II>1PLEMENTATION.
THE CITY COUNCIL OF THE CITY OF SANTA MONICA HEREBY
RESOLVES AS FOLLOWS:
WHEREAS, the City desires to provide a deferred compen-
sation plan for certain of its employees, and
WHEREAS, Financial Industries Corporation has submitted
such a plan to the City for its consideration and adoption.
NOW, THEREFORE, the City Council of the City of Santa
Monica does hereby resolve as follows:
Sectio~ 1. The Deferred Compensation Plan attached to
this resolution is adopted. The City Manager is authorized to
implement the plan. The City consents to the plan and assumes the
obligations to be performed on its part as set forth in the plan.
Section 2. The plan shall be effective January 1, 1975
and may apply to compensation earned after the effective date. The
City consents to participation of any employee of the City at its
discretion, such participation to be in accordance with the
Participation or Joinder Agreement.
Section 3. The City Clerk shall certify to the adoption
of this resolution, and thenceforth and thereafter the same shall
be in full force and effect.
ADOPTED AND APPROVED THIS
17th
day of December
1974.
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Mayor
ATTEST-
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RESOLUTION NO. 4576 (CCS)
I hereby certify that the foregoing resolu~ion was
duly adopted by the City Council of the City of Santa Monica at
a
Reg~~ar
December
meeting thereof, held on the 17th day of
, 1974 by the following vote of the Council:
NOES:
Councilmen: Judson, Lawson, McCloskey, Swink
Trives, van den Steenhoven, Hoover
Councilmen: None
AYES:
ABSENT:
Councilmen: None
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l-d{J[;
- ~ Clerk -
APPROVED AS TO FORM:
City Attorney