HomeMy WebLinkAbout1974-04-11 - Resolution No. 74-060
RESOLUTION NO. 74-6
RESOLUTION OF THE BOARD OF DIRECTORS OF THE YORBA LINDA COUNTY
WATER DISTRICT APPROVING AN EMPLOYEES DEFERRED COMPENSATION
PLAN AND AUTHORIZING ITS IMPLEMENTATION
WHEREAS, the District has sought to provide special inducements
and incentives for key personnel in recognition of special re-
quirements and working hours particular to this group of employees:
and
WHEREAS, a committee composed of management representatives has
prepared a deferred compensation plan establishing policies and
procedures and has submitted said plan to the District for consider-
ation and adoption;
NOW,THEREFORE, BE IT RESOLVED AS FOLLOWS:
1. The employee deferred compensation plan attached to this
resolution, marked "Exhibit A" and by such reference incor-
porated herein, is adopted. The District General Manager with
the assistance of the Auditor and designated committee members
is authorized to implement said plan. The District consents
to the plans and assumes the obligations to be performed on
its part as set forth in said plan.
2. The plan shall be operative April 29, 1974, but shall apply
only to the compensation received by a participating employee
after the date he files a written declaration to participate.
The District consents to the participation of any eligible
permanent employee of the District, such participation to be
in accordance with the participating employee's Participation
Agreement.
PASSED AND ADOPTED this 11th day of April, 1974 by the
following called vote:
Ayes: Hastings, Lindow, Clodt, Wagner and Knauft
Noes: None
Absent: None
c/ -
President
ATTEST:
Secretary/,