TC Res. No. 1991-14RESOLUTION NO. 91-14
SERIES OF 1991
A RESOLUTION OF THE TOWN OF AVON TO AMEND EMPLOYEE RETIREMENT
PLANS AND TRUSTS.
WHEREAS, the Town of Avon has.adopted money purchase pension
plans and trust agreements for its general employees,
firefighters, and police officers; and
WHEREAS, the plans and trust agreements permit certain
investments to be made with the funds in these plans; and
WHEREAS, the administrator of these plans, United Asset
Management has recently merged with Norwest Bank; and
WHEREAS, the Town Council desires to permit _ employees to
utilize Norwest Bank Collective Funds for their pension plans.
NOW'THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF AVON, COLORADO:
Section 1. That the Town hereby amends its Town of Avon Public
Employees Money Purchase Pension Plan and trust to add the
language below:
Section 2. That the Town hereby amends its Town of Avon
Firefighters Money Purchase Pension Plan and Trust to add the
language below:
Section 3. That the Town hereby amends its Town of- Avon Police
Officers Money Purchase Pension Plan and trust to add the language
below:
"The Trustee is hereby authorized to invest in the Norwest
Bank Collective Funds by-incorporating into the Plan and Trust the
Declaration of Trust executed by Norwest.Bank Minnesota, National
Association, on April 3, 1989, establishing Norwest Bank
Collective Funds for Employee Benefit Plans. Notwithstanding any
other provisions of the Plan and Trust, the Trustees may cause any
part or all of the money of this Trust without limitation as to
amount to be commingled-with the money of trusts created by others
and invested and reinvested as a part of any one or more of the
Funds heretofore or hereafter created by said Declaration of
Trust,' and money of this Trust' so added to any of the funds
heretofore or hereafter created by said Declaration of Trust
shall be subject-to all of the provisions of said Declaration of
Trust as it is amended from time to time."
FURTHER RESOLVED that the effective date of this amendent is May
•
1, 1991; and
FURTHER RESOLVED, that
authorized to. execute
authorized to take such
implement said amendmen
0
the Mayor of the Town of Avon is hereby
such documents and agreements and is
other actions as are deemed necessary to
t to the plan and trust.
ADOPTED this 14th day of May, 1991.
TOWN OF AVON, COLORADO
j
Jer Dav's, Mayor