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RESOLUTION BY THE <br />CABARRUS COUNTY BOARD OF COMMISSIONERS <br />RELATING TO A DEFERRED COMPENSATION PLAN <br /> <br />Name of Employer: County of Cabarrus <br />Title of Program Coordinator: Per~Qnnel Officer <br /> (sec definition below for duti~ of Program Coordinator) <br /> <br />State: North Carolina <br /> <br />Resolution of the above named Employer ('Employer') <br /> <br />WHEREAS, the Employer has employees rendering valuable services; and <br /> <br />WHEREAS, the establishment of a deferred compensation plan for such employees serves the interests of the Employer <br />by enabling it to provide reasonable retirement security for its employees, by providing increased flexibility in its <br />personnel management system, and by assisting in the attraction and retention of competent personnel; and <br /> <br />WHEREAS, the Employer has determined that the establishment of a deferred compensation plan to be administered <br />by the ICMA Retirement Corporation serves the above objectives; and <br /> <br />WItEREAS, the Employer desires that its deferred compensation plan be administered by the ICMA Retirement <br />Corporation, and that the funds held under such plan be invested in the ICMA Retirement Trust, a trust established <br />by public employers for the collective investment of funds held under their retirement and deferred compensation plans; <br /> <br />NOW, TltEREFORE BE IT RESOLVED that the Employer hereby adopts or has previously adopted the deferred <br />compensation plan (the "Plan") in the form off (Select one) <br /> <br />X The ICMA Retirement Corporation Deferred Compensation Plan, referred to as Appendix A <br /> <br />__ The plan provided by the Employer (executive copy attached hereto). <br /> <br />BE IT FURTHER RESOLVED that the Employer hereby executes the Declaration of Trust of the ICMA Retirement <br />Trust, attached hereto as Appendix B, intending this execution to be operative with respect to any retirement or <br />deferred compensation plan subsequently established by the Employer, if the assets of the plan are to be invested in <br />the ICMA Retirement Trust. <br /> <br />BE IT IIIJRTItER RESOLVED that the Personnel Officer (use title of official, not name) shall be the <br />coordinator for this program; shall receive necessary reports, notices, etc. from the ICMA Retirement Corporation or <br />the ICMA Retirement Trust; shall cast, on behalf of the Employer, any required votes under the ICMA Retirement <br />Trust; Administrative duties to carry out the plan may be assigned to the appropriate departments, and is authorized <br />to execute all necessary agreements with ICMA Retirement Corporation incidental to the administration of the Plan. <br /> <br />I, , Clerk to the Cabarrus County Board of Commissioners, do hereby certify that the foregoing <br /> <br />resolution, was duly passed and adopted by the Board of Commissioners of Cabarrus County at a regular meeting on <br /> <br />the day of ,1996, by the following vote: <br /> <br />AYES: <br />NAYS: <br />ABSENT: <br /> <br />(seal) <br /> <br />Frankie F. Bonds, Clerk to the Board of Commissioners <br /> <br /> <br />