The URL can be used to link to this page

Home My WebLink AboutR-06-16 RESOLUTION NO. R-06-16 A RESOLUTION OF THE CITY OF SEBASTIAN, FLORIDA, ESTABLISHING A RETIREE HEALTH SAVINGS PLAN FOR CITY EMPLOYEES; PROVIDING FOR CONFLICT; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the establishment of a retiree health savings plan for City employees serves the interests of Employer by enabling it to provide reasonable security regarding such employees' health needs during retirement, by providing increased flexibility in its personnel management system, and by assisting in the attraction and retention of competent personnel; and WHEREAS, the Employer has determined that the establishment of the retiree health savings plan (the "Plan") serves the above objectives. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, that: Section 1. Establishment of Plan. The City shall establish a retiree health savings plan for City employees. That the assets of the Plan shall be held in trust, with the Employer serving as trustee, for the exclusive benefit of Plan participants and their beneficiaries, and the assets of the Plan shall not be diverted to any other purpose prior to the satisfaction of all liabilities of the Plan. The Council authorizes the City Manager to execute the Declaration of the Trust of the City of Sebastian Integral Part Trust in the form of the model trust made available by the ICMA Retirement Corporation. The City of Sebastian shall be the coordinator and contact for the Plan and shall receive necessary reports, notices, etc. Section 2. Conflict. All resolutions or parts of resolutions in conflict herewith are hereby repealed. Section 3. Effective Date. This resolution shall become effective upon its adoption. Upon being put to a vote, the vote was as follows: Mayor Brian Burkeen aye Councilmember Andrea Coy a V: e Councilmember Nate McCollum aye Councilmember Sal Neglia aye Councilmember AI Paternoster aye The Mayor thereupon declared the Resolution duly passed and adopted this 23rd day of August, 2006. CITY OF SEBASTIAN, FLORIDA BY:~~ Brian Burkeen, Mayor OJ11- Approved as to fonn and legality for reliance by the City of Sebastian only: //~ . 1ti: . Rich Stringer, City tt rney (SEAL)