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Home My WebLink About1985-10-10 - Resolution No. 85-30a r RESOLUTION NO. 85-30 RESOLUTION OF THE BOARD OF DIRECTORS OF THE YORBA LINDA COUNTY WATER DISTRICT AMENDING THE EMPLOYEES DEFERRED COMPENSATION PLAN AND AUTHORIZING ITS IMPLEMENTATION WHEREAS, the Directors of the Yorba Linda County Water District have sought to provide special inducement and incentives for the personnel and employees of the District, and WHEREAS, a deferred compensation plan was adopted by Resolution No. 74-6 on April 11, 1974, and WHEREAS, the Internal Revenue Service reviewed the original Deferred Compensation Plan and determined that certain amendments would be required prior to issuing a ruling on the Federal Income Tax consequences of the Plan, and WHEREAS, the requested amendments were incorporated into the Plan and the amended deferred compensation plan was adopted by Resolution No. 74-15 on September 12, 1974, and WHEREAS, additional changes to the Internal Revenue Code allowed more frequent enrollment periods and places limitations on the amount of income that can be deferred, and the revisions were incorporated into the deferred compensation plan dated March 13, 1980 and the amended deferred compensation plan was adopted by Resolution No. 80-2 on March 13, 1980, and WHEREAS, Resolution No. 83-01 adopted February 24, 1983 designates M. Roy Knauft Jr.as administrator, and WHEREAS, M. Roy Knauft Jr. now wishes to become a participant, and WHEREAS, the Plan requires an Administrator who is not a participant, NOW THEREFORE BE IT RESOLVED by the Board of Directors of the Yorba Linda County Water District as follows 1. The amended employee deferred compensation plan adopted by Resolution No. 80-2 on March 139 1980 and amended by Resolution No. 83-01 on February 24, 1983 shall continue in effect with the exception that Whit Cromwell director is designated as Plan Administrator. Passed and adopted this called vote= Ayes:KNAUFT, MILLS, LINDOW Noes: 0 Absent: ARMSTRONG Abstains CROMWELL ATTE c e a y 10 th day of October 1983 by the following Presidents G