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498 <br /> December 30,1992 <br /> C.'a Roll was called on the consent agenda Stems i.with all c nciimen <br /> voting yes except Councilmen Diamond andoveistreet who were <br /> excused. <br /> Notion carried. <br /> FINAL.PLAT APPROVAL-POWDER MILL HIGHLANDS <br /> Moved by Councilman Moser, seconded by Councilman Campbell to <br /> grant final approval of the 87 lot plat of Powder Highlands, <br /> Division 12. <br /> Roll was called with all councilmen voting yes except <br /> Councilmen Diamond and Overstreet who were excused. <br /> _ Motion carried. <br /> RESOLUTION-DEFERRED COMPENSATION <br /> Moved by Councilman Pope, seconded by Councilman Campbell to <br /> adopt Resolution No..3721 establishing a deferredcompensation <br /> program ofall eligible City employees and elected officials as <br /> revised as follows: <br /> WHEREAS, the City of Everett has considered the establishment <br /> of.a Deferred Compensation Program to be made available to all <br /> eligible City employees and elected officials, (except day <br /> laborers), pursuant to the Federal legislation permitting such <br /> plans;and. <br /> WHEREAS, certain substantial tax benefitscAultl to <br /> eligible City employees and elected officials participating in <br /> said Deferred Compensation Program,and <br /> WHEREAS, such benefits..willact sincentives to these <br /> s <br /> individuals to voluntarily aside and invest portions of <br /> their- current income to meet their future financial <br /> requirements' and supplement their City retirement and Social <br /> Security payments(if applicable)at o to the City unless <br /> set t Porth in a collectivebargaining agreement or <br /> ordinance; <br /> NOW, THEREFORE,BE IT-RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF EVERETT that there is hereby adopted and established a <br /> Deferred Compensation Plan, Slth its attendant investment <br /> options, for the voluntary participation of all eligible City <br /> employees and elected officials; <br /> C <br />