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<br /> <br />CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br />ALAMEDA COUNTY, CALIFORNIA <br /> <br />RESOLUTION NO. 07-. <br /> <br />RESOLUTION AMENDING CITY'S QUALIFIED RETIREMENT PLAN <br /> <br />WHEREAS, the City has employees rendering valuable services; and <br /> <br />WHEREAS, the City has established a qualified retirement plan for such employees that serves <br />the interest of the City by enabling it to provide reasonable retirement security for <br />its employees, by providing increased flexibility in its personnel management <br />system, and by assisting in the attraction and retention of competent personnel; <br />and <br /> <br />WHEREAS, the City has determined that the continuance of the qualified retirement plan will <br />serve these objectives; and <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES <br />AS FOLLOWS: <br /> <br />Section I: The City hereby amends and restates the qualified retirement plan (the "Plan") in <br />the form of the ICMA Retirement Corporation Governmental Money Purchase <br />Plan and Trust. <br /> <br />Section 2: The assets of the Plan shall be held in trust, with the City serving as Trustee <br />("Trustee"), for the exclusive benefit of Plan participants and their beneficiaries, <br />and the assets shall not be diverted to any other purpose. The Trustee's beneficial <br />ownership of Plan assets held in VantageTrust shall be held for the further <br />exclusive benefit of the Plan participants and their beneficiaries. <br /> <br />Section 3: The City hereby agrees to serve as Trustee under the Plan. <br /> <br />I HEREBY CERTIFY THAT THE FOREGOING WAS DULY AND <br />REGULARLY ADOPTED BY THE CITY COUNCIL OF THE CITY OF PLEASANTON, AT <br />A MEETING HELD ON 2007 BY THE FOLLOWING VOTE: <br /> <br />AYES: <br />NOES: <br />ABSENT: <br />ABSTAIN: <br /> <br />Councilmembers - <br />None <br />None <br />None <br />