RES 2000-25TOWN OF TROPHY CLUB, TEXAS
RESOLUTION NO. 2000-25
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TROPHY
CLUB, TEXAS, ADOPTING A DEFERRED COMPENSATION PLAN
PROVIDING FOR VOLUNTARY PARTICIPATION OF ALL ELIGIBLE
FULL-TIME TOWN EMPLOYEES; AUTHORIZING THE HUMAN
RESOURCE DIRECTOR TO EXECUTE PARTICIPATION AGREEMENTS
AND ACT AS ADMINISTRATOR OF THE PLAN FOR THE TOWN OF
TROPHY CLUB; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Town of Trophy Club, Texas ("Town"), has considered the
establishment of a Deferred Compensation Plan (the "Plan") to be made available to all eligible
full-time Town employees pursuant to Federal legislation permitting such Plans; and
WHEREAS, certain substantial tax benefits could accrue to eligible full-time Town
employees participating in said Deferred Compensation Plan; and
WHEREAS, such benefits will act as incentives to eligible full-time Town employees to
voluntarily set aside and invest portions of their current income to meet future financial
requirements and supplement their Town retirement and Social Security (if applicable), at no cost
to the Town.
NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS:
Section 1. The Town Council hereby adopts the Town of Trophy Club Deferred
Compensation Plan for the voluntary participation of all eligible full-time Town employees.
Section 2. The Human Resource Director is hereby authorized to execute for the
Town, individual participation agreements with each said eligible full-time Town employee,
requesting same, and to act as the "Administrator of the Plan representing the Town, and to
execute such agreements and contracts as are necessary to implement the Plan. It is implicitly
understood that, other than the incidental expenses of collecting and disbursing deferrals and
other minor administrative matters, there is to be no cost to the Town for the Plan.
Section 3. That this resolution shall become effective from and after its date of
passage in accordance with law.
PASSED AND APPROVED by the Town Council of the Town of Trophy Club, Texas,
on this the 5'h day of September, 2000.
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Marshall Engelbeck, Mayor
Town of Trophy Club, Texas
Diane Cockrel ' Town Secretary
Town of Trophy Club, Texas
[Seal]
APPROVED AS TO FORM:
ey
Town AWmey
Town of Trophy Club, Texas
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