[Adopted 7-3-2012 by Ord. No. 318]
The proper municipal officers are hereby authorized to execute and deliver the following documents:
The participant's application, which documents are attached hereto and made part hereof, and which may be inspected by any interested citizen at the office of the Municipal Secretary.
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 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.