HomeMy WebLinkAboutResolution No. 07-20 Appointing Vantage Trust Company as successor trustee of retirement health
RESOLUTION NO. 07-20
A RESOLUTION OF TIUI:CITY COUNCIL OF THE CITY OF UNIVERSITY
PARK, TEXAS, PROYlI))N(;JrOR THE APPOINTMENT OF VANTAGETRUST
COMP ANY AS SUCCJ~SSOR TRUSTEE OF THE RETIRJi:MI~NT HIiJAL TH
SAVINGS (RRS) PROGRAM; AND PROVIDING AN El?li'ECTlVEJ DA TEo
WHEREAS, the City ("Employer") has established a retiree health savings plan (the
"Plan") for the benef1t of its eligible employees and has established a tmst in connection
with the Plan (the "Trust"); and,
WHEREAS, the Employer has been notified that the State Street Bank and Trust
Company (successor by merger with Investors Bank & Trust Company) will resign as
trustee of the Trust effective as of January 1, 2008; and
WHFJREAS, the Employer desires to appoint the VantageTrust Company to serve as
successor trustee, effective as of January 1,2008; NO'V, TH)l:RIiJFORF:,
BE IT RESOL YED OF" THE CITY COUNCIL OF THE CITY OF UNIVERSITY
PARK, TI~XAS:
SECTION 1. That the Employer hereby appoints VantageTrust Cmupany to serve as
successor trustee of the Trust, efJectlve as of January 1,2008.
SECTION 2. That the Employer hereby authorizes the City Manager or his designee to
take any and all actions required to implement the foregoing tes(>lution.
Duly passed by the City Council of the City of University Park, Texas, on the 23 rd
day of October 2007.