RESOLUTION NO.  38-99

 

A RESOLUTION OF THE WEST MIFFLIN SANITARY SEWER MUNICIPAL AUTHORITY ADOPTING AND APPROVING A ELIGIBLE DEFERRED COMPENSATION PLAN UNDER §457.B OF THE INTERNAL REVENUE CODE AS RESTATED.

 

            WHEREAS, the Authority has established a Deferred Compensation Plan Under §457.B of the Internal Revenue Code; and,

 

            WHEREAS, the Copeland Companies has presented a restated plan for consideration by the Authority.

 

            NOW THEREFORE, be it resolved and it is hereby resolved as follows:

 

1.                  The eligible Deferred Compensation Plan presented by the Copeland Companies under §457.B of the Internal Revenue Code is hereby approved.

 

2.                  The purpose of the Plan Trust is to hold the investments solely as plan assets for the purpose of investing plan accounts and paying plan distributions.

 

3.                  The Authority hereby approves said plan and the contract between the Copeland Companies and the West Mifflin Sanitary Sewer Municipal Authority including the Plan Trust Declaration, the Deferred Compensation Plan and the Agreement for the Deferred Compensation Plan Services.

 

4.                  The proper officers of the Authority are hereby authorized, empowered and directed to execute the plan in the name of the Authority.

           

            Resolved this 7th day of January 1999.

WEST MIFFLIN SANITARY SEWER MUNICIPAL AUTHORITY

ATTEST:                                                        

Cynthia A. Sullivan, Chairman

Michael Price, Secretary