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RESOLUTION INO.2002-109 <br />A RESOLUTIOI\ <br />THE FIRST AMENDMEl` <br />DEFERRED COMPENSA <br />WHEREAS, the City of Edina adopted resolut <br />compensation, and on December 21, 1998, adopt <br />restatement of the City of Edina Deferred Comp( <br />Compensation Plan II (hereinafter referred to as <br />then in effect, and to authorize the adoption jof t <br />January 1, 1999; <br />WHEREAS, the City of Edina reserved theig <br />amended and restated Plans; <br />WHEREAS, for years beginning after December <br />Reconciliation Act of 2001 made significant cl <br />provisions governing deferred compensation pias <br />section 457 of the Code; <br />WHEREAS, for years beginning after Decemlber <br />sections 401(a)(9), 414(v), and 457 of the Codle h, <br />regarding the law governing plans subject to the re <br />WHEREAS, it has been proposed that the City) of <br />required to comply with the changes in the law, <br />Revenue Service, and to take advantage of oppprti <br />WHEREAS, a First Amendment of City of <br />Amendment of City of Edina Deferred Comp <br />to the City of Edina for review and considerati <br />APPROVING l_af-�' f EAIM <br />r OF CITY OF EDINA <br />CION PLANS I AND II <br />is on January 5, 1998, 1regarding deferred <br />resolutions to authorize he amendment and <br />ation Plan I and the Cit of Edina Deferred <br />c "Plans"), to comply ith applicable laws <br />amended and restated lans effective as of <br />to amend the Plans undef section 9.1 of the <br />., 2002, the Economic Gr wth and Tax Relief <br />Iges to the Internal Reve ue Code ("Code") <br />including plans subject to he requirements of <br />1, 2002, regulations and idance regarding <br />e been issued by the Dep ment of Treasury <br />.iirements of section 457 c f the Code; <br />Tina authorize the zendlifient of the Plans as <br />reflect the guidae iss ed by the Internal <br />ities made available under the law; <br />Deferred Compensation Plan I and a First <br />n Plan II have been prep red and presented <br />WHEREAS, it has been proposed that the City of Bina approve and author' e the adoption of <br />the First Amendment of City of Edina Deferred Compensation Plan I and th First Amendment <br />of City of Edina Deferred Compensation Plan 1I, i substantially the form prsented to the City <br />of Edina, effective as of the dates provided for in th se amendments. <br />NOW, THEREFORE, BE IT RESOLVED, thaIdd <br />e City of Edina her by approves and <br />authorizes the adoption of the First Amendment ofy of Edina Deferred C pensation Plan I <br />and the First Amendment of City of Edina DeferrCompensation Plan II i substantially the <br />form presented to the City of Edina, effective as odates provided for in t ose amendments, <br />and hereby authorizes and directs the City M,ana of the City of Edina arrange for the <br />execution of said amendments in substantially tl, fpresented to the City o Edina and to take <br />City Hall <br />4801 WEST 50TH STREET <br />EDINA, MINNESOTA 55424-1394 <br />(952) 927-8861 <br />FAX (952) 826-0390 <br />TDD (952) 826-0379 <br />