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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.