1987 015 Resolution - Laserfiche WebLink

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RESOLUTION N0. 87- 15 INTRODUCED BY: Mayor Fred N. Carmen A RESOLUTION ADOPTING A PLAN UNDER THE OHIO PUBLIC EMPLOYEES DEFERRED COMPENSATION PROGRAM PERMITTING ALL ELIGIBLE EMPLOYEES OF MAYFIELD VILLAGE, OHIO, TO DEFER A PORTION OF THEIR COMPENSATION AND DECLARING AN EMERGENCY. WHEREAS, the General Assembly of the State of Ohio has enacted Sections 145.71, 145.72 and 145.73 of the Ohio Revised Code authorizing the creation of the Ohio Public Employees Deferred Compensation Board (the "Board") and the establishment of the Ohio Public Employees Deferred Compensation Program (the "Program"); and WHEREAS, under the Program all "eligible employees" as defined in subsection (A) of Section 145.71 of the Ohio Revised Code are permitted to contract with their employer for the deferral of compensation; and WHEREAS, employees of Mayfield Village are "eligible employees"; and WHEREAS, the Mayor and Council of Mayfield Village, Ohio, wish to adopt a plan under the Program for the benefit of its employees; now, therefore, BE IT RESOLVED BY THE COUNCIL OF MAYFIELD V ILLAGE, OHIO, THAT: Section 1. The Mayor and Council of Mayfield Village, Ohio do hereby adopt a plan under the Ohio Public Employees Deferred Compensation Program and extends to all eligible employees the opportunity to join. Section 2. The Mayor and President of Council are hereby authorized and directed to execute an agreement with the Board on terms and conditions which they determine are in the best intersts of Mayfield Village, which agreement shall authorize the Board to offer a plan under the Program to all eligible employees of the municipality and thereafter to administer the plan on behalf of such employees. Section 3. That the Council finds and determines that all formal actions of this Council relating to the adoption of this Resolution have been taken at open meetings of this Council; and that deliberations of this Council and of its committees, resulting in such formal action, took place in meetings open to the public, in compliance with all statutory requirements including the requirements of Section 121.22 of the Ohio Revised Code. Section 4. This Resolution is hereby declared to be an emergency measure necessary for the immediate preservation of the health, safety and welfare of the residents of Mayfield Village for the reason that the agreement authorized herein will inure to the benefits of Village employees and thereby increase morale within the