[HISTORY: Adopted by the Board of Supervisors of the Township of Independence 8-12-1992 by Ord. No. 2-92. Amendments noted where applicable.]
The duration of the term of the Agreement is four years from the date of admission to the Trust as a participant.
The purpose and objectives of the Agreement are set forth in Article V of the Agreement.
The powers and scope of authority delegated are set forth in Article II, Article V, Article VI, Article VIII and Article IX of the Agreement.
The funds for meeting the obligations of the political subdivision under the Agreement shall be appropriated from the general funds of the political subdivision.
The organizational structure necessary to implement the Agreement consists of the Trust, Trustees, Service Agents and Fiscal Agents created by the Agreement.
Property acquired for purposes of the Trust shall be acquired, managed and disposed of under the terms of the attached Trust Agreement.
The Trust shall be empowered to enter into contracts for policies of group insurance and employee benefits, including social security for its employees.