2004-08-25 WS & CC Meeting - Laserfiche WebLink

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. . . . . E-ih:bi+ 8 . .fi~ot..!~jf!i1$;.~~{i~:\2.1;'.:.?At'I\';~';h.<;.',~;i:~~~;i;G'.if:t.,j;,ti?K:.~~~t!r!~f,:~f~~$j~~!i~;~~}~i'!~')~~*;:;;~#}t~;,;;i>iii,'~;t,;it~~~~d(~t'f::$iihh DECLARATION OF TRUST This Declaration of Trust (the "Group Ttust Agreement") is made as of the 19th day of May, 2001, by VantageTrust Company, which declares itself to be the sole Trustee of the trust hereby created. WHEREAS, the ICMA Retirement Trust was cteated as a vehicle for the commingling of the assets of governmental plans and governmental units desctibed in Section 818(a)(6) of the Internal Revenue Code of 1986, as amended, pursuant ro a Declaration of Trust dated October 4, 1982, as subsequencly amended, a copy of which is attached hereto and incorporated by reference as set out below (the "ICMA Declaration"); and WHEREAS, the trust created hereunder (the "Group Trust") is intended to meet the requirements of Revenue Ruling 81-100, 1981-1 C.B. 326, and is established as a COmmon trust fund within the meaning of Section 391: 1 ofTicle 35 of the New Hampshire Revised Statutes Annotated, to accept and hold for investment purposes the assets of the Deferted Compensation and Qualified Plans held by and through the ICMA Retirement Trust. NOW, THEREFORE, the Group Trust is created by the execution of this Declaration of Trust by the Trustee and is established with respect to each Deferred Compensation and Qualified Plan by the transfer to the Trustee of such Plan's assets in the ICMA Retirement Trust, by the Trustees thereof, in accord with the following provisions: 1. Incorporation ofICMA Declaration by Reference; ICMA By-Laws. Except as otherwise provided in this Group Trust Agreement, and to the extent not inconsistent herewith, all provisions of the ICMA Declaration are incorporated herein by reference and made a part hereof, to be read by substituting the Group Trust for the Retirement Trust and the Trustee for the Board of Trustees referenced therein. In this respect, unless the context clearly indicates otherwise, all capitalized terms used herein and defined in the ICMA Declaration have the meanings assigned to them in the ICMA Declaration. In addition, the By-Laws of the ICMA Retirement Trust, as the same may be amended from time-to-time, are adopted as the By-Laws of the Group Trust to the extent not inconsistent with the terms of this Group Trusr Agreemenr. Notwithstanding the foregoing, the rerms of the ICMA Declaration and By-Laws are further modified with respecr to the Group Trust created hereunder, as follows: . (a) any feporting, distribution, or other obligation of the Group Trust vis-a-vis any Deferred Compensation Plan, Qualified Plan, Public Employer, Public Employer Trustee, or Employer Trust shall be deemed satisfied to the extent that such obligation is undertaken by 31 f,. , .