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<br />SECTION IV. The Plan will permit loans. <br /> <br />SECTION V. The Employer hereby agrees to serve as trustee <br />under the Plan. <br /> <br />SECTION VI. The Director of ?inance shall be the coordinator <br />for this program: shall receive necessary reports, notices, etc. <br />from the ICMA Retirement Corporation or the Vantage Trust Company; <br />shall cast, on behalf of the Employer, any required votes under <br />the Vantage Trust Company; administrative duties to carry out the <br />plan may be assigned to the appropriate departments, and is <br />authorized to execute all necessary agreements with ICK~ <br />Retirement Corporation incidental to the administration of <br />the Plan. <br /> <br />SECTION VII. Conflicts. All Resolutions or parts of <br />Resolutions in conflict with any of the provisions of this <br />Resolution are hereby repealed. <br /> <br />SECTION VIII. Severability. If any Section or portion of a <br />Section of this Resolution proves to be invalidl uLlawful, or <br />u~constitutional, it shall not be held to invalidate O~ impair <br />the validity, force, or effect of any other Section or par~ of <br />this P.esolution. <br /> <br />SECTION IX. Effective Date. T~is Resolution shal~ become <br />effective ir.'illlediately upon its passage and adoption. <br /> <br />PASSED and ADOPTED this OIrf~ day of March, A.D. 2003. <br /> <br />ATTEST' : <br /> <br />~ mc/l-t-M~ <br /> <br />Thelma McPherson <br />City Clerk <br /> <br />~ ) r1 <br />AC?/i~~ <br /> <br />Bruce A. Pronovost <br />Mayor/Commissioner <br />