HRA RES 2000-03 - 00002022RESOLUTION NO. HRA 3-2000
A RESOLUTION ESTABLISHING A MONEY PURCHASE PLAN
WHEREAS, the Fridley Housing and Redevelopment Authority has employees rendering valuable
services; and
WHEREAS, the establishment of a money purchase retirement plan benefits employees by providing
funds for retirement and funds for their beneficiaries in the event of death; and
WHEREAS, the Fridley Housing and Redevelopment Authority desires that its money purchase
retirement plan be administered by the ICMA Retirement Corporation and that the funds held in such
plan be invested in the ICMA Retirement Trust, a trust established by public employers for the
collective investment of funds held under their retirement and deferred compensation plans;
NOW THEREFORE BE IT RESOLVED, that the Housing and Redevelopment Authority hereby
establishes a money purchase retirement plan (the "Plan") in the form of "The ICMA Retirement
Corporation Governmental Money Purchase & Trust", pursuant to the specific provisions of the
Adoption Agreement. The Plan shall be maintained for the exclusive benefit of eligible employees and
their beneficiaries; and
BE IT FURTHER RESOLVED, that the Employer hereby adopts the Declaration of Trust of the
ICMA Retirement Trust, intending this adoption to be operative with respect to any retirement or
deferred compensation plan subsequently established by the Employer, if the assets of the plan are to be
invested in the ICMA Retirement Trust; and
BE IT FURTHER RESOLVED, that the Employer hereby agrees to serve as trustee under the Plan
and to invest funds held under the Plan in the ICMA Retirement Trust; and
BE IT FURTHER RESOLVED, that the Finance Director shall be the coordinator for the Plan; shall
receive reports, notices, etc., from the ICMA Retirement Corporation or the ICMA Retirement Trust;
shall cast, on behalf of the Housing and Redevelopment Authority, any required votes under the ICMA
Retirement Trust; may delegate any administrative duties relating to the Plan to appropriate
departments; and
BE IT FURTHER RESOLVED, that the Employer hereby authorizes the Finance Director to
execute all necessary agreements with the ICMA Retirement Corporation incidental to the
administration of the Plan.
PASSED AND ADOPTED BY THE FRIDLEY HOUSING AND REDEVELOPMENT
AUTHORITY 1N AND FOR THE CITY OF FRIDLEY, NIlNNESOTA THIS 6� DAY OF APRIL,
2000.
LAWRENCE R. COMIV�RS, CHAIRPERSON
ATTEST:
WILLIAM W. BURNS, EXECUTIVE DIRECTOR