HomeMy WebLinkAbout1990-30 Amending the Trust Agreement Pursuant to Town of Vail Employees' Pension Plan~.
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ORDINANCE NO. 30
Series of 1990
AN ORDINANCE AMENDING THE TR€1ST AGREEMENT Pl1RSUANT
TO TOWN OF VAIL EMPLOYEES' PENSION PLAN; AND
SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, the Town of Vail has adopted a Trust Agreement pursuant to the Town of
Vail Employees' Pension Plan, date of which was January 1, 1.9$3; and
WHEREAS, the Town of Vail has adopted a fourth amendment to said plan, the
effective date of which was August 16, 198$; and
WHEREAS, the Town Council wishes to amend the Trust Agreement which sets forth
the details of implementing the Town's Pension Plan.
NOW, -THEREFORE, BE IT ORDAINED BY THE TOWN COLiNCIL OF THE TOWN OF VATL,
COLORADO:
1.. The first amendment to the Employees' Pension Plan Trust Agreement which is
attached to this Ordinance and incorporated herein by reference is hereby adopted by
the Town Council of the Town of Vail.
2. If any part, section, subsection, sentence, clause ar phrase of this
Ordinance is 'f'or any reason held to be invalid, such decision shall not affect the
validity of the remaining portions of this Ordinance; and the Town Council hereby
declares it would have passed this Ordinance, and each part, section, Subsection,
sentence, clause or phrase thereof, regardless of the fact that any one ar more
parts, sections, subsections, sentences, clauses or phrases be declared invalid,
3. The Town Council hereby finds, determines and declares that this Ordinance
is necessary and proper for the health, safety and welfare of the Town of Vail and
the inhabitants thereof.
~. The repeal or the repeal and reenactment of any provision of the Municipal
Code of the Town of Vail as provided in this Ordinance shall not affect any right
which has accrued, any duty imposed, any violation that occurred prior to the
effective date hereof, any prosecution commenced, nor any other action or
proceedings as commenced under or by virtue of the provision repealed or repealed
and reenacted. The repeal of any provision hereby sha11 not revive any provision or
any ordinance previously repealed or superseded unless expressly stated herein.
5. All bylaws, orders, resolutions, and ordinances, or parts thereof,
inconsistent herewith are repealed to the extent only of such inconsistency. This
repealer shall not be construed to revise any bylaw, order, resolution, or
ordinance, or part thereof, heretofore repealed.
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INTRODUCED, READ AND APPROUEQ ON FIRST READING this 17th day of ,Tiny
1990, and a public hearing shall be held on this Ordinance on the 17th day of
July 1990, at 7:30 p.m. in the Council Chambers of the Vail
Municipal Building, Vail, Colorado.
Ordered published in full this 17r.~, day of .lulu 1990.
ATTEST:
Pamela A. [3randmeyer, Town Clerk
~ ~°.!lU1 tit ~/L-~....~
Kent R.~Rose, Mayor `
INTRODUCED, READ AND APPROVED ON SECOND READTNG AND ORDERED PUBLISHED
l,y tLt7.e c~~z1.y this 7th day of August 1990.
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~ ~~~~~~
Kent R` Rose, Mayor `
ATTEST:
Pamela A. Brandmeyer, Town Clerk
_Z_
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FIRST AMENDMENT
TO
TRU5T AGREEMENT
Pursuant to
TOWN OF VAIL
EMPLOYEES' PENSION PLAN
THIS AMENDMENT is made by the Town of Vail (hereinafter referred to as the
"Employer") with the consent of the Trustee.
WHEREAS, the Employer and the Trustee entered into a Trust Agreement to carry
out the terms of the Tawn of Vail Employees' Pension Plan {hereinafter referred to
as the "Trust") an September 20, 1983; and
WHEREAS, the Trust, at Article IX, provides in part as follows:
"The Employer shall have the right at any time and from time to
time by action of Town Council with the written consent of the Trustee
to amend this Trust Agreement ..."; and
WHEREAS, the Employer now desires to amend the Trust to make a technical change
to the Trust;
NOW, THEREFORE, the Employer does hereby amend the Trust in the following
particulars:
ARTICLE I
Section 7.3 of the Trust (page 1.6} is hereby amended by adding the following
language to the end of such Section:
"In addition, the Board of Directors of the Vail Metropolitan
Recreation District shall appoint one individual to serve as a
Trustee. Such individual shall be either a member of such Board or an
employee of Vail Metropolitan Recreation District. Such person shall
serve for such term as is determined by the Board of Directors of the
Vail Metropolitan Recreation District."
ARTICLE II
Section 7.3 of the Trust (page 16) is also hereby amended by deleting "(c)
Finance Director;" and "(d) Personnel Director." and inserting in their place "(c)
Director of Administrative Services."
ARTICLE III
The amendment to the Trust set forth in Article I above shall be effective as of
the date of adoption.
ARTICLE IV
Except as hereinabove amended in Articles I and II above, the Employer hereby
readapts, reaffirms and redeclares each and every provision of the Trust.
. ;. ..,
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IN WITNESS WHEREOF, the Employer, at the direction of its Town Council and with
the consent of the Trustee, has executed this Amendment as of the '~`' day of
u-Q~' 1990 .
TOWN OF VAIL
Admi ~ strator
T~ e foregoing ~~endment is hereby approved by the currently acting Trustees this
_/~"~ day of a~ , 1990.
r
Town Manager ~
_~
Town Atto~fiey
~_... L ~~''~C J
Director of Administrative Services
..2..
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