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EXTRACT OF MINUTEF: OF REGULAR MEETING OF THE CITY COUNCIL OF ROSEVILLE, MINNESOTA, HELD ON June 24 , 1974 * * * * * * * * * * * Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Ro seville, Minne sota , was duly called and held at the City Hall in said City of the 24 day of Jtme , 1974, at 7:30 o'clock p.m. The following members were present: Acting Mayor Brennan, Curley, Demos and Hess and the following members were absent: Mayor Linebarger Member Curley lution and moved its adoption: introduced the following reso- RESOLUTTON NO. 6119 RESOLUTION ESTABLISHING A DEFERRED COMPENSATION PLAN FOR CERTAIN EMPLOYEES WHEREAS, the City has in its employ certain administra- tive, professional, and technical personnel; and WHEREAS, said employees are and will be rendering valuable service s to the City; and WHEREAS, the City has considered the establishment of a Deferred Compensation Plan for said employees made available to the City and to said employees by the International City Management Association Retirement Corporation; and WHEREAS, said employees often are unable to acquire retirement security under other existing and available retirement plans due to the contingencie s of employment mobility; and WHEREAS, the City receives benefits under said plans by being able to assur e reasonable retirement security to said em- ployees, by being more able to attract competent personnel to its service, and by increasing its flexibility in personnel management through elimination of the need for continued employment for the sole purpose of alloWing employees to qualify for retirement benefits.