Res 74 - 10 Relating to Deferred Compensation Plan for City Employees��
CITY OF MENDOTA HEIGHTS
Dakota County, Minnesota
RESOLUTION NO. 74-10
RESOLUTION RELATING TO DEFERRED COMPENSATION
PLAN FOR CITY EMPLOYEES
WHEREAS, State Statutes and IRS rules<permit deferred compensation
plans for non-profit organizations; and
WHEREAS, Mendota Heights employees expressed an interest in such
a plan; and
WHEREAS, several financial firms.have indicatecl their willingness
and ability to administer such plan, along with future annuity payments;
and
WHEREAS, Mendota Heights officials desire to provide the employees
with such a plan;
NOW THEREFORE IT IS HEREBY RESOLVED by the City Council of the
City of Mendota Heights that the City Council does in fact endorse the
concept of a tax deferment plan, managed and administered according to
all applicable statutes and regulations;
y.BE�,IT FURTHER RESOLVED that the Administrator and Attorney be
authorized to prepare a plan for further consideration.
Adopted by the City Council of the City of Mendota Heights this
Fifteenth day of January , 1974.
CITY COUNCIL
CITY OF MENDOTA HEIGHTS
gy �`�,(. � f�f 1�.v-c�t�
Mayor