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10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17I <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-117-96 <br />RESOLUTION APPROVING ADOPTION OF <br />LINCOLN NATIONAL CORPORATION <br />DEFERRED COMPENSATION PLAN <br />A resolution of the City Council of the City of Colton authorizing the Lincoln National <br />Corporation's Deferred Compensation Plan funding vehicles under the Internal Revenue Code <br />Section 457, IRC, as an option. <br />WHEREAS, the City Council receives benefits by the Lincoln National funding options <br />and the ability to provide a broad spectrum of funding options to plan participants, <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF COLTON <br />The City of Colton hereby approves the Lincoln National Corporation as a funding <br />provider, as an option under its deferred compensation program and authorizes its officials to <br />execute all documents necessary to establish the funding options as presented to the City of <br />Colton. <br />The Resolution shall be in full force and effect from and after its passage and all <br />necessary approval by the City Council. <br />PASSED, APPROVED AND ADOPTED this 1" day of October, 1996. <br />ATTEST: <br />Teresa S. Delgado, Interim City Clerk <br />George V. Fulp, Mayor <br />