Resolution - 51320'.
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RESOLUTION NO. 5132
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF WEST COVINA APPROVING AN AMENDMENT TO THE
DEFERRED COMPENSATION PLAN FOR CITY EMPLOYEES
PRESENTED BY FINANCIAL KINETICS CORPORATION.
The City Council of the City of West Covina.does resolve
as follows:
SECTION 1. The Deferred Compensation,Plan for employees
of the City of West Covina presented by ,Financial Kinetics Corpo-
ration is hereby amended -by amending section 4 to read:
"4. Administration - The Plan shall be administered by a
committee of not less than three persons appointed by
the City Council or comparable authority of the City.
The authority of the committee to provide.for the
investment of funds pursuant to the Plan is limited to
life insurance or annuity contracts. No member of
the committee shall have the full power and authority
to adopt rules and regulations for the administration
of the Plan, or to interpret, alter, amend or revoke
any rulesand regulations so adopted."
SECTION 2. The City Clerk.shall certify to the adoption
of this resolution.
Adopted and approved this ` 27th day of October 1975.
Attes - •���
Mayor
City Cl rk
hereby certify that the foregoing resolution was duly
adopted by the City Council of the -City of,West-Covina at a regular
meeting thereof held on the 27th day of October , 1975, by
the following vote of the Council:
AYES: Councilmen: Shearer, Miller, Browne, Tice, Chappell
NOES: Councilmen: None
ABSENT: Councilmen: None
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City Clerk
APPROVED AS TO FORM:
® Cit4 Attorney