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I RESOLUTION NO. R-101-97 <br />2 <br />3 A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF COLTON AMENDING THE PART-TIME, TEMPORARY <br />4 AND SEASONAL (PTS) EMPLOYEES DEFERRED <br />COMPENSATION PLAN <br />5 <br />6 <br />WHEREAS, the City of Colton has part-time, temporary and seasonal employees <br />7 <br />8 <br />rendering valuable services; and <br />9 WHEREAS, the City of Colton has established a PTS deferred compensation plan for <br />10 such employees which serves the interest of the City of Colton enabling it to provide <br />11 reasonable retirement security for its employees, by providing increased flexibility in its <br />12 <br />personnel management system, and by assisting in the attraction and retention of competent <br />13 <br />14 personnel, and <br />15 WHEREAS, the City of Colton has determined that the continuance of the deferred <br />16 compensation plan will serve these objectives; and <br />17 WHEREAS, amendments to the Internal Revenue Code have been enacted which <br />18 <br />require changes to the structure of and allow enhancements of the benefits of the deferred <br />19 <br />20 compensation plan: <br />21 NOW, THEREFORE, BE IT RESOLVED that the City of Colton hereby amends and <br />22 restates the deferred compensation plan (the"Plan") in the form of The ICMA Retirement <br />23 Corporation Part -Time, Temporary and Seasonal Employees (PTS) Deferred Compensation <br />24 <br />Plan and Trust, referred to as Appendix A. <br />25 <br />BE IT FURTHER RESOLVED that the assets of the Plan shall be held in trust, with <br />26 <br />27 the City of Colton serving as trustee, for the exclusive benefit of the Plan participants and their <br />28 <br />