HomeMy WebLinkAboutResolution 1975 - 0098RESOLUTION NO.75-98
A JOINT RESOLUTION OF THE BOARDS OF DIRECTORS
OF COUNTY SANITATION DISTRICTS 1,2,3,5,6,
7 AND 11 OF ORANGE COUNTY,CALIFORNIA,ESTAB
LISHING A DEFERRED COMPENSATION PLAN FOR THE
MANAGEMENT AND SUPERVISORY EMPLOYEES OF THE
DISTRICTS
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WHEREAS,the Districts have considered the establishment
of a Deferred Compensation plan to be made available to certain
full time Districts employees,whereby the employees may provide
for the deferral of a specified amount of current earned income
and the payment of such deferred amount and accumulations
thereon,in accordance with the terms of agreement with partici
pating employees;and
WHEREAS,certain income tax benefits could accrue to
employees participating in said Deferred Compensation Plan;~
and
WHEREAS,Districts recognize that the tax advantages of
this Deferred Compensation Plan to Districts employees constitutes
a benefit to the County Sanitation Districts of Orange County
by allowing the Districts to offer an additional “fringe benefit”
in recruiting and retaining qualified personnel in its employ
ment,which fringe benefit is at no cost or charge to the
Districts.
NOW,THEREFORE,the Boards of Directors of County
Sanitation Districts 1,2,3,5,6,7,and 11 of Orange County,
California,
DO HEREBY DETERMINE,RESOLVE AND ORDER:
1.A Deferred Compensation Plan for certain full time
employees is hereby authorized and established.
2.All management and supervisory employees of the
Districts are authorized to participate in said plan.
3,Districts’General Counsel is authorized and directed
to submit the Deferred Compensation Plan Agreement,to be
executed by participating employees,to the Internal Revenue
Service for approval.
4.The Chairman is authorized to execute individual
•agreements with each employee requesting to participate in
said plan.
PASSED AND ADOPTED at a regular meeting held July 9,1975..
—2-
STATE OF CALIFORNIA )
)SS.
COUNTY OF ORANGE )
I,J.WAYNE SYLVESTER,Secretary of the Boards of Directors of
County Sanitation Districts Nos.1,2,3,5,6,7,and 11 of Orange
County,California,do hereby certify that the above and foregoing.
Resolution No.75-98 was regularly passed and adopted at a
regular meeting of said Boards on the 9th day of July ,
1975
by the following vote,to wit:
AYES:Directors Donald Winn (Chairman),Lowell Amo,Robert
Battin,John Burton,Edward Byrne,Michael Callahan,
Dale Chaput,Ralph Clark.,Norman Culver,Jesse Davis,
.Milan Dostal,Norma Gibbs,Vernon Evans,Donald Fox,
Alice Frankiewich,John Garthe,Francis Glockner,
Robert Nevil,James Jackman,Miriam Kaywood,Donald
Mclnnis,Thomas McKnew,Bob Perry,Thomas Riley,Kern
Rima,Howard Rogers,Donald Saltarelli,Laurence Schmit,
George Scott,John Store,Bernie Svalstad,Jess Perez,
Robert Ward,Martha Weishaupt,Frances Wood,and
Robin Young
NOES:None .
ABSENT:Director Phillip Cox
IN WITNESS WHEREOF,I have hereunto set my hand this 9th day
of July ,
1975.
.
4~W >rny~’Syl’v~’ster,Secretary,
Bo ds/16f Di~èctors,County
nitd,~ion IJ~stricts Nos.1,2,
3,5,6,7,and 11 of Orange
County,California
S-1o1
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