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CC RESOLUTION 1357RESOLUTION NO. 1357 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EL SEGUNDO, CALIFORNIA, ADOPTING AND EXECUTING A SYSTEM OF GROUP LIFE IN- SURANCE FOR THE BENEFIT OF ITS OFFICERS AND EMPLOYEES WHO ELECT TO ACCEPT THE BENEFITS AND WHO AUTHORIZE THE LEGISLATIVE BODY OF SAID CITY TO DEDUCT INSURANCE PREMIUMS FROM THEIR COMPENSATION. WHEREAS, under the provisions of Chapter 2 of Part 1 of Division 2 of Title 5 of the Government Code of the State of California, as amended, the City Council of the City of E1 Segundo is authorized to adopt and execute a system of group life insurance for the benefit of its officers and employees who elect to accept the benefits and who authorize the legis- lative body of said City to deduct the insurance premiums from their compensation; and WHEREAS, in cooperation with insurance representa- tives and representatives of legally authorized corporate trustees and representatives of the adjacent City of Manhattan Beach, California, a system providing for such insurance has been evolved and may be activated under and pursuant to the trust agreement and rules and regulations appurtenant thereto hereinafter referred to; and WHEREAS, after careful analysis and due consideration of said proposed system for said City under said proposed agree- ment and rules and regulations, this Council believes that the best interests of the City of E1 Segundo, and of its officers and employees, will be served; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF EL SEGUNDO, CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: - 1 - SECTION 1. That there shall be and there is hereby ordered placed on file in the office of the City Clerk of the City of E1 Segundo, California, and open to public inspection, a full, true and correct copy of that certain instrument en- titled,"TRUST AGREEMENT ASSOCIATION OF CALIFORNIA CITIES IN- SURANCE TRUST FUND" presented to this Council at the regular meeting of said City Council held on the 7th day of October, 1953, and that as so on file said "TRUST AGREEMENT ASSOCIATION OF CALIFORNIA CITIES INSURANCE TRUST FUND" be and the same is hereby referred to and by this reference incorporated herein and made a part hereof as fully and for all intents and pur- poses as though the same were herein set forth at length. Said agreement is hereinafter referred to as the ttTrust Agree- ment". SECTION 2. That there shall be and there is hereby ordered placed on file in the office of the City Clerk of the City of E1 Segundo, California, and open to public inspection, a full, true and correct copy of that certain instrument en- titled, "ASSOCIATION OF CALIFORNIA CITIES INSURANCE TRUST FUND COMMITTEE RULES AND REGULATIONS" presented to this Council at the regular meeting of said City Council held on the 7th day of October, 1953, and that as so on file said "ASSOCIATION OF CALIFORNIA CITIES INSURANCE TRUST FUND COMMITTEE RULES AND REGULATIONS" be and the same is hereby referred to and by this reference incorporated herein and made a part hereof as fully and for all intents and purposes as though the same were herein set forth at length. Said instrument is hereinafter referred to as the "Rules and Regulations ". SECTION 3. That the City Council of the City of El Segundo, California, does hereby approve and adopt each and all of the terms, conditions and provisions contained in said "Trust - 2 - f 342 Agreement" and in said "Rules and Regulations ", and does here- by find and determine, on behalf of said City, that the system of group life insurance, as contemplated in and provided for in and under the said "Trust Agreement" and said "Rules and Regulations ", is a proper and desirable system of group life insurance for the officers and employees of said City as con- templated and authorized by law; and does hereby adopt said system. SECTION 4. That the Mayor of the City of E1 Segundo, California, be and he is hereby authorized and instructed to execute the said "Trust Agreement" by and on behalf of said City of E1 Segundo and in its name, and the City Clerk to at- test the same and affix the official seal of said City thereto and make delivery of said "Trust Agreement" in due course to the trustee hereinafter designated and appointed. SECTION 5. That for the purpose of instituting the system of group life insurance contemplated in and under said "Trust Agreement" and said "Rules and Regulations ", the follow- ing duly qualified officers and employees of the City of E1 Segundo are hereby appointed and authorized to act as the mem- bers of the "Association of California Cities Insurance Trust Fund Committee" pursuant to said "Trust Agreement" and said "Rules and Regulations ", to wit: Wm. R. Selby, Mayor of the City of El Segundo Donald R. Short, Director of Public Works of the City of El Segundo Neva M. Elsey, City Clerk of the City of E1 Segundo Each of said appointees shall serve as such committee member, subject to the provisions of said "Trust Agreement" and of said "Rules and Regulations ". Each of said appointees, and their duly qualified and elected successors as such on said Committee, from the City of E1 Segundo, as Trustor, are hereby - 3 - authorized and empowered to take any and all action necessary on their respective parts and as authorized under said "Trust Agreement" and said "Rules and Regulations" to promote and develop said system of group life insurance for the best in- terests of this and other employer cities and their officers and employees who may qualify and participate under said Trust. SECTION 6. That the City Council of the City of E1 Segundo, on behalf of the City of E1 Segundo as a Trustor under said "Trust Agreement", does hereby approve Imperial Industries, a California corporation, as the administrative agent provided for under the said group life insurance system hereby estab- lished, and does hereby further approve John W. Davis, who is an officer, to wit: the President of said corporation, as a member of said committee. SECTION 7. Said City Council of the City of E1 Se- gundo does hereby designate and appoint Title Insurance and Trust Company, a California corporation, of Los Angeles, Cali- fornia, as Trustee of the trust and fund created in, under and by said trust agreement, and so far as said City of E1 Segundo is concerned, does hereby authorize and empower said Trustee to act as such thereunder. SECTION 8. That said City Council does hereby con- sent to deduct premiums from wages or salaries hereafter pay- able to the respective officers and employees of said City who may respectively hereafter elect to participate in said sys- tem of group life insurance, and to cause such premiums pay- able by such officers and employees under said system, when so deducted, to be remitted to said Title Insurance and Trust Company, as Trustee, all as contemplated under said System; and that the accounting and fiscal officers of said City are hereby authorized and directed to cause the premium deductions - 4 - y `�344 hereinabove referred to, to be made from the respective pay- roll amounts hereafter payable to the respective officers and employees of said City who may respectively hereafter elect to participate in said system of group life insurance, and to cause such demands and warrants, payable to said Trustee under said "Trust Agreement ", for the remittance of such premium amounts, so deducted, to be prepared and presented to this Council, all at the times and in the manner as contemplated under said system of group life insurance. SECTION 9. That if, as and when the said agreement is executed and delivered by another municipal Trustor pro- viding for its officers and employees the system of group life insurance as contemplated in, under and by the said "Trust Agreement" and delivery of such executed agreement by such other municipal Trustor to said Trustee shall have been ef- fected, the fiscal officers of the City of El Segundo shall, and they are hereby authorized and instructed so to do, pre- pare and present to this Council the necessary municipal war- rants drawn upon the proper municipal funds of said City for the payment of the City's obligations under said system to the payees in the manner and within the time as contemplated in said "Trust Agreement ", to the end that the system of group life insurance provided for in said "Trust Agreement" shall, be established, activated and carried into execution at the earliest convenient time. SECTION 10. That this resolution shall take effect immediately. SECTION 11. That the City Clerk shall certify to the passage and adoption of this resolution; shall enter the same in the book of original resolutions of said City and shall make a minute of the passage and adoption thereof in - 5 - the records of the proceedings of the City Council of said City in the minutes of the meeting at which the same is passed and adopted; and said City Clerk shall also forward a certified copy of this resolution, together with a certified copy of said "Trust Agreement" and of said "Rules and Regulations" to each of the following: (1) Title Insurance and Trust Company, a corporation, 433 South Spring Street, Los Angeles, California; (2) Honorable California; the City of (3) To Imperial Industries, a California corpor- ation; and (4) To such insurance carrier as may be designated under the provisions of said "Trust Agreement" and said "Rules and Regulations" to provide the insurance coverage contemplated under said system. PASSED, APPROVED AND ADOPTED this 7th day of October, 1953• ATTEST: -)�Q_ .,. -�- 1 . City Clerk (SEAL) ayor of the Cityof E1 Segundo, Califo ia. - 6 - STATE OF CALIFORNIA, ) COUNTY OF LOS ANGELES, ; SS. CITY OF EL SEGUNDO. ) I, Neva M. Elsey, City Clerk of the City of El Segundo, California, do hereby certify that the whole number of members of the City Council of the sedd City is five; that the foregoing resolution, being Resolution No. 1357, was passed and adopted by the said City Council, approved and signed by the Mayor of said City, and attested by the City Clerk of said City, all at a regular meeting of the said Council held on the 7th day of October, 1953, and that the same was so passed and adopted by the following vote: AYES: Councilmen Baker, Gordon, Peterson, Swanson and Mayor Selby; NOES: Councilmen None; ABSENT: Councilmen None. WITNESS my hand and the official seal of said City this 8th day of October, 1953. City Clerk of the Cit of E1 Segundo, Californ (SEAL)