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<br />" <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 86- 50 <br />A RESOLUTION OF THE CITY OF ELK RIVER <br /> <br />A RESOLUTION ESTABLISHING A MONEY MARKET RETIREMENT PLAN <br />FOR THE ELK RIVER CITY ADMINISTRATOR, PATRICK D. KLAERS <br /> <br />WHEREAS, the City of Elk River has employees rendering valuable <br />services; and, <br /> <br />WHEREAS, the establishment of a money purchase plan will benefit <br />employees by providing funds for retirement and funds <br />for their beneficiaries in the event of death; and, <br /> <br />WHEREAS, the establishment of a money purchase plan will assist <br />the City of Elk River to attract and retain qualified <br />personnel; and, <br /> <br />WHEREAS, the City of Elk River desires that its money purchase <br />plan be administered by the lCMA Retirement Corporation. <br /> <br />NOW, THEREFORE, BE IT RESOLVED that the City of Elk River <br />establishes a money purchase plan in the form of the <br />lCMA Retirement Corporation prototype money purchase <br />plan and trust pursuant to the specific provisions of <br />the executed adopted agreement. The plan and the trust <br />forming a part hereof are established and shall be <br />maintained for the exclusive benefit of eligible <br />employees and their beneficiaries. <br /> <br />Passed and adopted by the City Council of the City of Elk River <br />this 21st day of July, 1986 <br /> <br />................- -"-.7-.- <br />/ <br />~~~L<~~ ..LJ,~ .-:;;L-'L~: <br /> <br />Richard Hinkle, Mayor <br /> <br />ATTEST: <br /> <br />M/ud J? ;t/~. <br /> <br />Patrick D. Klaers, City Administrator <br />