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16 <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 <br />employees serves the interests of the Employer by enabling it to <br />provide reasonable retirement security for its employees, by. <br />providing increased flexibility in its personnel management system, <br />and by assisting in the attraction and retention of competent <br />personnel; and <br /> <br />WHEREAS, the Employer has determined that the establishment of a <br />deferred compensation plan to be administered by the ICMARetirement <br />Corporation serves the above objectives; and <br /> <br />WHEREAS, the Employer desires that its deferred compensation plan be <br />administered by the ICMARetirement Corporation, and that the funds <br />held under such plan be invested in the ICMA Retirement Trust, a <br />trust established by public employers for the collective investment <br />of funds held under their retirement and deferred compensation <br />plans; <br /> <br />NOW, THEREFORE BE IT RESOLVED that the Employer hereby adopts or has <br />previously adopted the deferred compensation plan (the "Plan") in <br />the form of: (Select one) <br /> <br />X <br /> <br />The ICMA Retirement Corporation Deferred Compensation <br />Plan, referred to as Appendix A <br />The plan provided by the Employer (executive copy <br />attached hereto). <br /> <br />BE IT FURTHER RESOLVED that the Employer hereby executes the <br />Declaration of Trust of the ICMA Retirement Trust, attached hereto <br />as Appendix B, intending this execution to be operative with respect <br />to any retirement or deferred compensation plan subsequently <br />established by the Employer, if the assets of the plan are to be <br />invested in the ICMA Retirement Trust. <br /> <br />BE IT FURTHER RESOLVED thmt the Personnel Officer (use title of <br />official, not name) shall be the coordinator for this program; shall <br />receive necessary reports, notices, etc. from the ICMA Retirement <br />Corporation or the ICMA Retirement Trust; shall cast, on behalf of <br />the Employer, any required votes under the ICMA Retirement Trust; <br />Administrative duties to carry out the plan may be assigned to the <br />appropriate departments, and is authorized to execute all necessary <br />agreements with ICMA Retirement Corporation incidental to the <br />administration of the Plan. <br /> <br /> The ICMA Retirement Corporation Deferred Compensation Plan is on file in <br />the Office of the County Manager and hereby included by reference as a part of <br />the minutes. <br /> <br />NEW BUSINESS <br /> <br />Welcome to County Manager <br /> <br /> Chairman Barnhart welcomed Mr. Frank W. Clifton, Jr., who assumed the <br />duties of Cabarrus County Manager on this date. <br /> <br />Bid Award Ballfield Lighting Project Parks and Recreation Department <br /> <br /> The following bids were received on January 31, 1996 for the Parks and <br />Recreation Department Ballfield Lighting Project. <br /> <br />BID TABULATION <br /> <br />COMPANY <br /> <br />Project ~1 Project #2 Project ~3 <br />Frank Liske Park Bethel Elementary Harrisburg Elementary <br /> <br />Musco Lighting, Inc. $24,348.00 $5,730.00 $5,730.00 <br /> <br /> <br />