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EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, County of Ramsey, Minnesota, was duly held in the City Hall at 2660 Civic Center Drive, Roseville, Minnesota, on Monday, the 24th day of October, 1983, at 7:30 p.m. The following members were present: Curley, Johnson, Franke, Kehr, and Demos and, the following were absent: None Member Franke introduced the following resolution and moved its adoption: RESOLUTION NO. 7567 WHEREAS, the City of Roseville maintains a deferred compensation plan for its employees which is administered by the ICMA Retirement Corporation (the "Administrator"); and WHEREAS, the Administrator has recommended changes in the plan document to comply with recent federal legislation and Internal Revenue Service Regulations govern- ing said plans; and WHEREAS, the Internal Revenue Service has issued a private letter ruling approving said plan document as complying with Section 457 of the Internal Revenue Code; and WHEREAS, other public employers have joined together to establish the ICMA Retirement Trust for the purpose of representing the interests of the participating employers with respect to the collective investment of funds held under their deferred compensation plans; and WHEREAS, said Trust is a salutary development which further advances the quality of administration for plans administered by the ICMA Retirement Corporation. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville as follows: 1) That the Council hereby adopts the deferred compensation plan, attached hereto as Appendix A, as an amendment and restatement of the City's present deferred compensation plan administered by the ICMA Retirement Corporation, which will continue to act as Administrator of said plan. 2) That the Council hereby executes the ICMA Retirement Trust, attached hereto as Appendix B.