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OPosb/% 1 <br /> RESOLUTION NO. 5385 <br /> A RESOLUTION Establishing a Retirement Health Savings (RHS) <br /> Program <br /> WHEREAS, the City of Everett has employees rendering valuable services; and <br /> WHEREAS, the establishment of a retiree health savings plan for such employees serves <br /> the interests of the City of Everett by enabling it to provide reasonable security regarding <br /> such employees' health needs during retirement, by providing increased flexibility in its <br /> personnel management system, and by assisting in the attraction and retention of <br /> competent personnel; and <br /> WHEREAS, the City of Everett has determined that the establishment of the retirement <br /> health savings plan (the "Plan") serves the above objectives; <br /> NOW,THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF EVERETT, that the City of Everett hereby adopts the Plan in the form of the ICMA <br /> Retirement Corporation's VantageCare Retirement Health Savings program; and <br /> BE IT FURTHER RESOLVED that the assets of the Plan shall be held in trust, with <br /> the City of Everett serving as trustee, for the exclusive benefit of Plan participants and <br /> their beneficiaries, and the assets of the Plan shall not be diverted to any other purpose <br /> prior to the satisfaction of all liabilities of the Plan. The Mayor is hereby authorized to <br /> execute the Declaration of Trust of the City of Everett Integral Part Trust in the form of <br /> the model trust made available by the ICMA Retirement Corporation; and <br /> BE IT FURTHER RESOLVED, that the Mayor or his designee is hereby authorized to <br /> execute such documents and instruments as are reasonably necessary for the implementation <br /> of the Retirement Health Savings Program, including the Plan, and agreement(s) for <br /> administration of the Program. <br /> Counci man Introducing Reso on <br /> Council President <br /> Passed and approved this24 day of September 2003 <br />