Minutes 10/11/1983 - Laserfiche WebLink

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!~J TUESDAY OCTOBER 11, 1983 BE IT RESOLVED that the Employer hereby adopts the deferred compen- sation plan, attached hereto as Appendix A, as an amendment and restatement of its present deferred compensation plan administered by the ICMA Retirement Corporation, which shall continue to act as Administrator of said plan; and BE IT FURTHER RESOLVED that the Employer hereby executes the ICMA Retirement Trust, attached hereto as Appendix B; and BE IT FURTHER RESOLVED that the Employer hereby adopts the trust agreement with the ICMA Retirement Corporation, as appears at Appendix C hereto, as an amendment and restatement of its existing trust agreement with the ICMA Retirement Corporation, and directs the ICMA Retirement Corporation, as Trustee, to invest all funds held under the deferred compensation plan through the ICMA Retire- ment Trust as soon as is practicable; and BE IT FURTHER RESOLVED that the Director of Finance shall be the coordinator for this program and shall receive necessary reports, notices, etc.,from the ICMA Retirement Corporation as Administrator, and shall cast, on behalf of the Employer, any required votes under the program. Administrative duties to carry out the plan may be assigned to the appropriate departments. Upon motion, duly seconded and unanimously carried, Council accepted for introduction (and for possible final action at its forthcoming October 25th meeting) an ordinance proposing to amend Sections 4.1 and 8.1 of the Terms and Conditions of Electric Service and (to amend) Sections 4.1 and 9.1 of the Terms and Conditions of Water and Sewer Service(s), to include therein certain policies and procedures already in place or practice by reason of past Council action(s) and/or administrative decisions, which pertain to required security for payment of utility service charges made by the City and (to) the collection of such charges. Council acknowledged receipt of a communication from Central Telephone Company of Virginia ("CENTEL") apprising the Council that "CENTEL" has filed a rate adjustment application with the State Corporation ,Commission and that a public hearing thereon is scheduled in Richmond, Virginia, on November 15, 1983.