Res 74 - 18 Adopting Deferred Compensation PlanCITY OF MENDOTA HEIGHTS
Dakota County, Minnesota
RESOLUTION NO. 74-18
,'ti RESOLUTION ADOPTING DEFERRED COMPENSATION PLAN
� :-
WHEREAS, the City Council has endorsed the concept of a deferred
compensation plan; and
WHEREAS, the City Council desires to attract and hold capable
employees by permitting them to enter into an agreement with the city,
whereby any portion, or all of their compensation may be deferred to
provide retirement, disability and death benefits; and
WHEREAS, state statutes and IRS rules permi.t deferred compensation
plans for non-profit organizations; and
WHEREAS, a City of Mendota Heights Deferred Compensation Plan has
been presented for consideration;
NOW THEREFORE BE IT RESOLVED by the City Council of the City of
Mendota Heights that the City Council does hereby adopt such plan; and
BE IT FURTHER RESOLVED that a deferred compensation committee is
hereby established as spelled out in Article IV, Paragraph 10; and
BE IT FURTE�R RESOLVED that the Mayor and Clerk are author-ized
to execute such plan and agreement.
Adopted by the City Council of the City�of Mendota Heights this
Fifth day of February , 1974.
CITY COUNCIL
CITY OF MENDOTA HEIGHTS
By ��
''�Robert .G. iLockwood
:A� cting Mayor�'�