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RESOLUTION NO. 796 OF 2012

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RESOLUTION NO. 796 OF 2012
RESOLUTION ESTABLISHING THE CITY OF RUSTON, LOUISIANA DEFERRED COMPENSATION PLAN COMMITTEE
WHEREAS, the City of Ruston, Louisiana (the “City”) previously established the City of Ruston, Louisiana, Deferred Compensation Plan for Public Employees, as may have been modified and/or superseded by the Ruston, Louisiana Deferred Compensation Plan for Public Employees - 457 Governmental Plan and Trust and/or similar deferred compensation plans, and the City may in the future establish new deferred compensation plans (individually or collectively the “Plan”); and, WHEREAS, the City desires to establish a committee which will, with the assistance of professional advisors: (a) oversee the operation of the Plan and (b) select, evaluate, and monitor the selection and performance of investment alternatives provided to participants under the Plan and (c) engage in other appropriate Plan duties; and, WHEREAS, such committee will be organized and operated in accordance with Bylaws adopted by the Board of Aldermen; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF RUSTON, LOUISIANA:
§1. The City of Ruston, Louisiana, Deferred Compensation Plan Committee (the “Committee”) is hereby established, which will, with the assistance of professional advisors: (a) oversee the operation of the Plan, (b) select, evaluate and monitor the selection and performance of investment alternatives provided to participants of the Plan; and (c) engage in other appropriate Plan duties.
§2. The Bylaws of the Committee (the “Bylaws”) are hereby approved and adopted in the form attached hereto.
§3. The Mayor, Dan Hollingsworth, is authorized and empowered to execute all documents necessary and to do all things necessary to carry out this Resolution and to fulfill its objects and purposes.
§4. This Resolution shall become effective upon final adoption and signature of the Mayor. Said Resolution having been read and considered by a quorum of the Board of Alderman, on motion to adopt by Alderman Jedd Lewis, seconded by Alderwoman Glenda Howard, a record vote was taken and the following result was had:
YEA: ALDERWOMAN GLENDA HOWARD
ALDERMAN JEDD LEWIS
ALDERMAN ELMORE MAYFIELD
ALDERMAN JIM PEARCE
ALDERWOMAN MARIE S. RIGGS
NAY: NONE
ABSENT: NONE
WHEREUPON, the presiding officer declared the above Resolution duly adopted in full on this the 9th day of July, 2012.
ATTEST:
EMMETT GIBBS, CLERK
DAN HOLLINGSWORTH, MAYOR
1td: July 13, 2012

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