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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 DEFERRED COMPENSATION <br />PLAN <br /> <br />WHEREAS, the City has employees rendering valuable services; and <br /> <br />WHEREAS, the City has established a deferred compensation plan for such employees that <br />serves the interest of the City by enabling it to provide reasonable retirement <br />security for its employees, by providing increased flexibility in its personnel <br />management system, and by assisting in the attraction and retention of competent <br />personnel; and <br /> <br />WHEREAS, the City has determined that the continuance of the deferred compensation plan <br />will serve these objectives; and <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOL YES <br />AS FOLLOWS: <br /> <br />Section I: The City hereby amends and restates the deferred compensation plan (the "Plan") <br />in the form of the ICMA Retirement Corporation Deferred Compensation Plan and <br />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 YantageTrust 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 YOTE: <br /> <br />AYES: <br />NOES: <br />ABSENT: <br />ABSTAIN: <br /> <br />Councilmembers - <br />None <br />None <br />None <br />