HomeMy WebLinkAbout1973-12-21 ResolutionNOTICE TO BIDDERS
Scaled bids will be received by the City of Iowa City, Iow'a,at the Office o:
the Director, of Finance in the Civic Center until y,n_flq)o'clock, �a —,
Ccr.tral Staneard Time , Thursdav on the 13th day o.
December ,1973 , ,to be opened by the City Manager ir•T.ediately t�,e:e-
after tor furnishing and delivering;thee. following equipment in accordance with
the specifications now on file in',the Office of the.City C1erk,.Iowa City, Iowa.
Two (Z) New and Unused' 7,000, lb. GVW Truck Chassis with Utility Body
Copies of the, specifications and proposal forms may obtained at the Office
'.OZ t�:d Admi:.lstrative.Engineer,-Department 'of Public Works.
All bids shall be filed on forms furnished by the City of Iowa City, Iowa, soalad
and plainly narked "Bids for 7,000 lb. GVW 'Truck Chassis with Utility Body"
Each bid must be accompanied, in a separate envelope, by a cashier's check
drawn on an Iowa bank made payable to the'Treasurer of the City of Tow„ City,
Iowa, Jr. the sum of not less than five (5) percent of the amount of-che bid as
"security that'. the. bidder will'. enter into: Contract with the City of lowa City,
Iowa. Said 'check shall not contain any conditions either in the body o: t;ie c,:eck,',
or endor Sement-tihereon. The envelope must be addressed to the City C e,-`, .and 'Oe
endorsed with the nano of the bidder and make' reference' to the equipment bainz
:.bid..' In -he event that the SUCCv'SSTlll'bidder should fall,t0 enter into CGi•traCt
or 'furnish bond acceptable to the City Council as required by law, said chock
shall, be forfeited to the City of Iowa City, Iowa, as liquidated damages.
Bids may be withdrawn at any time prior to the scheduled closing time for receipt c
of bids, but no bid may be' withdrawn "for a period of thirty (30) Calendar days
thereafter.
The Cashier's checks of the unsuccessful bidders will be returned within three
(3) days afterward of contract. The check of the"successful bidder will be
returned after oxecution Of the contract in the -fOYm prescribed by tnC City
Coui:cii.
Payment Tor the unit will be made within thirty (30) days after acceptance by
the City Council.
The City of Iowa City reserves the right to waive any irreguL cities w, C7, by so
doing it would be infthe .best interest. of the City,. and to reject any or. all uios.;
CITY OF IOWA CITY, I019A
C
/� �.•.• rte
Mayor
Attest: .�,�
�!
•
• / MY
RESOLUTION N0.
73-540
RESOLUTION MAKING AWARD OF 'CONTRACT FOR
TWO 7,000 GVW TRUCK CHASSIS WITH UTILITY BODIES
BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF IOWA CITY IOWA:
That the: bid of
HartwigMotors, Inc.of
Iowa ,City,' Iowa
in the amount of $ 8,937.42
for the 'purchase of
two 7,000 _GVW Truck Chassis with utility
bodies for the Public Works Department
described in the specifications heretofore 'adopted
by this Council on
November 13 1973 be and is hereby,
accepted, the same being the Lowest
responsible bid received for said work.
The Finance Director is hereby directed
to execute a purchase order wiLo :r—
said Hartwig Motors, Inc."
of r Iowa City, Iowr
for $8,937.42 for said equipment.
It was moved by�nm' and
seconded by ?AV 1, that
o C
-
Che resolution as read be adopted, and upon
roll call there were:
AYES: NAYS: ABSENT:
Brandt
Czarnecki
deProsse
Hickerson
White
i
Passed and approved this 21st day
of December 1973
i'
Mayor
% r
ATTEST:
City Clerk
NOTICE TO BIDDERS
Sealed 'bids will be received by the City of Iowa City, Iowa, at the Offico of
the Director of Finance in the Civic Center until ten (IO) o'clock, a,.m.
Central Standard Time Thursday on the 20th day of
December 19 73 ; to be opened by, the City Manager, immediately there-
�ite`r or turnis ing and delivering the following equipment in accordance with
the specifications now on file in the Office of the 'City Clerk, Iowa City,, Iowa.
One"(1) New and Unused 25 Cubic Yard Capacity Rear -Loading Refuse
Collection Unit.
Copies of the specifications and proposal forms may be obtained at the Office.
of the Administrative Engineer,Department of Public Works."
All bids, shall be.filed on forms furnished by the City' :of Iowa City, Iowa, sealed
and plainly ,marked "Bids for 25 Cubic, Yard Capacity Rear -Loading Refuse
Collection' Unit''.
Encu bid must be, accompanied, in a separate envelope, by a cashier's check
drawn on an lowa'bank'made,payable to the Treasurer of the City of Iowa City,
Iowa, ini`'the sum of not less than'ten (10) percent of the amount of
the bid as
security 'that the bidder will enter into contract with the City of Iowa City,
Iowa. Said check shall not contain any conditions either in the body of thecheckor endorsement thereon. The envelope must be 'addressed to the City, Clerk and be
endorsed'with the name of the bidder and make reference to the equipment' being
bid. In the event that the successful bidder should fail l to enter into contract
or furnish bond acceptable to',the City Council as required by law,' said check
shall be forfeited to' :the City of Iowa City, Iowa, as liquidated damages.
Bids may be withdrawn at any time prior to the scheduled closing time for receipt
of bids, but no bid may be withdrawn for a period of thirty (30) calendar days
thereafter.
The cashier's checks of the unsuccessful bidders will be returned within three
(3) days, after award of contract. The check of the successful bidder will be
returned after execution of the contract in the form prescribed by the City
Council.
Payment for the unit will be made within thirty (30) days after acceptance by
the City Council.
The City :of Iowa City reserves the right to waive any irregularities when by so
doing it would be in the best interest of the City, and to reject any or all bids.
CITY OF IGWA CITY, IOWA'
Mayor
Attest:
uty �lvrx ��
160
RESOLUTION NO. 73-541
RESOLUTION MAKING AWARD OF CONTRACT FOR
25 CUBIC YARD;REFUSE PACKER UNIT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA:
That the bid of
-New PtethodEquipmentCo of Cedar Rapids
Iowa'
in the amount of $ 10.190.00 for the purchase of one
25 cubic
yard capacity Rear -Loading Refuse Collection Unit for the DepartmenL• of Public
Works,
described in the specificatio ns.heretofore,adopted by this Council on
November 20 1973 ,;be and is hereby accepted, the same being the
lowest
ro ponsib�ee bid received for 'said 'work.
The Finance Director is hereby directed to execute a purchase order
with the
said thod Equipment Co. of Cedar Rapids Iowa
for
It was moved by GQefwosse.^':.' and seconded by `�zarheGh_�'.
that
the resolution as read be adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
Brandt
Czarnecki
de rosse
:Hickerson r.
White
Passed and approved this 21st_ day of December 1973
Mayor
ATTEST: _ C �.�i
City Clerk
NOTICE TO BIDDERS
Scaled bids will be received by the City of Iowa City, Iowa, at the Office of:'
the Director of Finance in the Civic Center until ten (10) o'clock, a.m. ,
-'Central ':Standard.Time Thursday on— tTie. 20th -.day -oT—
Decem er " , 1913 , to be opens bye t City Manager immediately there -
a ter 0r urnis ng and delivering the following equipment in accordance with
the specifications now on file in the Office of the City Clerk,'Iowa City, Iowa.
One,(l) New and Unused 39,000 lb. 'GVW Tandem Truck Chassis
Copies of the specifications and proposal forms may be obtained at the Office
of the Administrative Engineer, Department of Public Works.
All bids shall be filed on forms furnished by the City of Iowa City, Iowa, sealed
and plainly 'narked "Bids 'for 39,000.1b.! GVW Truck Chassis".
EaIch'bid must be accompanied, in a separate envelope, by a caehier'scheck
drawn on'.an.Iowa bank made payable"to the Treasurer of the City of Iowa'City,
Iowa,, in ',the sum of not less than ten (10) percent of the amount of the bid as'
s6curity.that.the;bidder�wiII enter intol:contract with the'
,CiEyyof;Iowe;City,,
or ondorsement thereon. ot:cotvelo a ymuconditions either in the body. of. the„check
Iowa Said check sha I I' . ' co..tain..an
with ttie name of the'bidder andst be addressed L.o the City Clerk and be
endorsed P make reference to the equipment being
bid. .In the event that;the successful.bidder 'should -fail to 'enter into contract
or furnish bond acts table to the City`'Council as required by law, said check
P 9
shall be forfeited to the City of Iowa City, Iowa, as liquidated damages.
Bids :aay:be withdrawn at any time prior to the scheduled closing time for receipt
of bids 'but no bid may be withdrawn for a period of thirty (30) calendar days
thereafter.
The cashier's checks of the unsuccessful bidders will be returned within three
-(3) days after award of contract. The check of the successful bidder will be
returned after execution of the :contract in the form prescribed, by the City
Council.
Payment for the unit will be made within ,thirty (30) days after acceptance by
the City Council.”
The City of Iowa City reserves the right to waive any irregularities when by so
•an eor all bids.
doing it would be in the;best interest of the City, and to re j y
CITY OF IOWA CITY, IOWA
Mayor
Attest:', '
`tu.G l
CityClerk'
t
NOTICE TO BIDDERS
received U the Cit of Iowa City, Iowa, at the 0.°fice cf
be recoi Y
Sealed bids will Y
Sc.
a.m.
clock ,
til ten' 10 o'clock, e ivic Center un ( )
' th .0
the Director of Finance in
day o.
Central Standard Time ,' Thursday on tfe hili,
73, to be opened by the City Manager immediately there-
December 19
after:for furnishing and delivering the following equipment in accordance with
the specifications now on file in the'Office of the City Clerk, Iowa City, Iowa.
One (1) New and Unused 24,000 lb. GVW Truck Chassis with Flat Bed and
Hydraulic Hoist. Trade-in of one (1) Ford F600 Flat Bed Truck, City ,
Equipment No. 245.
Copies of the specifications and proposal forms may be obtained at the Office
of the AdministrativeEngineer, Department of Public Works.
Ali bid hall be filed on forms furnished by the City of Iowa City,',Iowa, coaled
and plainly marked "Bids for 24,000 lb. GVW Truck Chassis with Fiat Bed and
Hydraulic Hoist".
Each bid must.be accompanied, in a separate envelope, by a cashier's check
Iowa City,
drawn on an Iowa bank made payable, to the Treasurer of the City of
the bid, as
Iowa, in the sum of not less,than five (5) percent of the;amourt of
the City of Iowa City,
security that the bidder will.enter into contract with
any either in the body o the check
:.Iowa.' Said check shall not contain conditions
be to the City Clerk and be
or ondarsemenr thereon. The envelope must addressed
bidder and make reference to the equiprent'bci;;g
cndors�cb wieh the name of the
bid. "In thl:' event that the successful bidder should fail to enter 'into contract
check
or -- rnisi, gond acceptable to the City Council as required by law, said
'Iowa Iowa, as liquidated damages.
ed to the'Cit of City,
shall be forfeit y
Bids may be withdrawn at any time 'prior to the, scheduled closing time for receipt
(30) calendar days
of bids, but no bid may be withdrawn for a period of thirty
thereafter.
The cashier's checks of the unsuccessful bidders will ,be returned wig in t;;tee
bidder will be
(3) days after award of contract. The check of the successful
in the form prescribed by the City
returned after execution of'the-contract
Council.
Pay ent for the unit will be made within thirty (30) days after acceptance by
the Ci;y Council.
Thu City of Iowa City reserves the right to waive any irregularities when by so
or all bids.
doing it would be in the best interest of the City, and to reject any
CITY OF IOWA CITY, IOWA
Mayor
Attest:
p
RESOLUTION NO. 73=543
RESOLUTION MAKING AWARD OF CONTRACT FOR
24,000 GVW TRUCK CHASSIS WITH FLAT BED
ZE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA:
That the bid of
Cline Truck & Equipment Co. of Iowa City, Iowa
in the amount of '$ 10,658.00 for the purchase of
one 24,000 ;% GVW Truck Chassis with flat bed and hydraulic hoist with
trade -iii of
Ford F600 Flat Bed True'L Equipment No. 245, for the Public Works Department,
described in the specifications heretofore adopted by this Council on
November 13, 19 73 be and is hereby accepted, the same being the
lowest
resuonsible bid received for said work.
:he Finance Director is hereby directed to execute a purchase order
with the
said Cline 'Truck `& Equipment Co. of Iowa City, Iowa
for $1-0.658.00 for said -
�/7]equipment.
It was moved by (7ZAJ and seconded by 13 -ors"-
that
the resolution as read be adopted, and upon roll call thele were:
AYE.- NAYS:'' ABSENT:
Brandt v'
deProsse
Czarnecki
Hickerson
White
Passed and approved this 21st day of December
19 73
—
Mayor
/
11Z1cer
ATTEST: (: { t ,CJ_/CtC�2�/tom
NOTICE TO BIDDERS
The City of Iowa City, Iowa, will receive bids in the office of the Director
of Finance in the Civic Center until 10:00 a.m. central standard time on Thursday,
the 20th day of December, 1973, to be opened then for furnishing and delivering
the following items in accordance with specifications now on file in the office of
the Director of Finance, Iowa City, Iowa:
One (1) new 1250 GPM Triple Combination
Pumper with 750 Gallon Booster Tank
All bids shall be filed on forms furnished by the City of Iowa City sealed
and,plainly marked."Bids for Fire Department Pumper Truck." Copies of the specifica-
tions and proposal forms may,.be obtained at the office of the Director of Finance.
The award of contract will be approved by the City Council at its next regular'meet-
ing following the bid opening.
Each bid must be accompanied, in a separate envelope,,by a, cashiers check drawn
on an Iowa bank made payable to the Treasurer ,of'the City of Iowa City, Iowa, in the
sum `o£ net less than 'five. (5) percent of the amount of the bid as security that the
bidder will enter into contract with the City,' Said check', shall not contain limiting
conditions either in the body of the check orendorsement thereon. The envelope must
be addressed to the Director.of Finance and be endorsed with the name 'of,the `bidder
and make reference to the equipment being bid,, In the event that the successful bidder
shall fail to enter into contract for delivery of the items specified, said check shall
be forfeited to the City.of Iowa City, Iowa, as liquidated damages.
Approval for any substitutions and/or'ommissions from the statedspecifications
must be obtained at least ten (10) days prior to bid opening.' Bids.may be withdrawn
at any time prior to the scheduled closing ,time for receipt', of bids, but ,no'bids may
be withdrawn for a period of thirty (30) calendar days thereafter. Cashiers'' checks
of the unsuccessful bidders will be returned within three (3) days after award of
contract. The check of the successful bidder will be returned after execution of a
contract in a form prescribed by the City Council,
Payment for the item specified will be made within Thirty (30) days after accept-
ance by the City Council.
The City of Iowa City reserves the right to waive any irregularities when by ;,doing
so it, would be in the best interest of the City, and to reject any or all bids.
City of Iowa City, Iowa
City Clerk
l
ji
RESOLUTION NO. 73-544
RESOLUTION MAKING AWARD OF CONTRACT FOR
ONE 1250 GPM TRIPLE COMBINATION BOOSTER FIRE TRUCK
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA:
That the bid of
Ward LaFrance of Elmira Heights, New York
in the amount of $48,279.00 for the purchase of
one 1250 GPM Triple Combination p o Booster Fire Truck for the Fire Department.
described in the specifications heretoforeadopted by this'Council on
November 20 1973 be and is hereby accepted, the same being the lowest
responsible bid received for; said work.
The Finance Director is hereby directed to execute a purchase order with the
said Ward LaFrance of Elmira Heights, New York
for said equipment. n
It was moved by �%r^ / ', 'Z'F and secondcd b C'
Y ) e4l. C.,ri that
the resolution as read be adopted, and upon roll call there were:
AYES NAYS: ABSENT:
Brandt
Czarnecki
deProsse'
Hickerson
White ✓.
Passed and approved this 21st day of December 1973
tl
/ Mayor
ATTEST: L�/�-fi�l�
City Clerk
I
NOTICE OF PUBLIC HEARING
The City Council of Iowa City, Johnson County, Iowa, will meet
at the Civic Center, in :the Council Chambers at 4:00.P.M. on December
21, 1973, for the purpose of amending the current Iowa City Budget
adopted on August 1, 1972,.by increasing expendituresfor the follow-
ing funds:
General $ 112,111
Street 7,750
Publid Safety 100;667
Sanitation' 130,120
Municipal Enterprise 93,243
Parks $ Recreation, 8,437
Utility (19,000)
Debt Service 1,032' \
Trust F, Agency (11,932)
Road Use Tax 288,936
Parking Revenue (21,002)
Sewer Revenue 83,064
Rater Revenue (87;516)
Special' Assessment' Const. 783,076
(Pater Reserve (23,000)
Sewer Reserve (23,000)
Parking', Reserve (58)333)
Capital Projects (94,279)
The increase in expenditures set out above will ;be met from in-
creased receipts and from cash balances not budgeted;or considered in
the current budget.' There will be no increase in taxies to,be'paid in
1973.
Taxpayers will be 'heard for or against the proposed amendment at
the time and place specified above. A detailed statement of additional
receipts other than taxes, cash balances on hand at the close of the
preceding fiscal year, and proposed disbursements, both past and antici-
pated, will be available at the hearing.
Abbie Stolfus
City Clerk
RESOLUTION NO. 73-545
RESOLUTIONAMENDING
THE 1973 BUDGET
BE IT REMEMBERED, on this, the 21st day of December,', 1973,
the City Council of Iowa City, Iowa,
of:johnson County, Iowa, met
in session for the.purpose-of;lhearing on an amendment to the
current operating' budget adopted onAugustr'l`ilr19727.1;'-::There was
present`a quorum as required by law.
,Thereupon the Council found
that the notice of time and 'place of
hearing was published accord-
ing to law. Thereafter, and on said
date the amendment was taken up
and considered and taxpayers heard for
or against the amendment as
follows:
THEREAFTER, and after hearing all
taxpayers to be heard, the
Council took up the amendment to the
budget for final consideration
and .determined that said budget be corrected by changing the pro-
posed expenditures as listed in the
original 'budget, in the follow-
ing funds:
General
112,111
Street
7,750
Public Safety
100,667
Sanitation
130,120
Plunicipal Enterprise
93,243
Parks &'Recreation
8,437
Utility
(19,000)
Debt Service
1,032
Trust & Agency
(11,932)
Road Use. Tax
288,936
Parking Revenue
(21,002)
Sewerr,Revenue
83,064
1.
Water'Revenue
(87,516)
Special Assessment Const.
783,076
Water Reserve
(23,000)
sewer Reserve
(23,000)
Parking Reserve
(58,333)
Capitol. Projects
(94,279)
The increase in expenditures set
above will be met from'increas-
ed receipts and from cash balances
not budgeted or considered in the
current budget. There will be no increase
in taxes to be paid 1979.
It was moved by Hickerson
and seconded by .1deProsse
that the Resolution as --read be adopted, and upon 'roll call there were:
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RESOLUTION NO. 73-547
RESOLUTION AUTHORIZING DEFERRED
COMPENSATION PLAN.
WHEREAS, the City Council of the 'City of Iowa City, Iowa, offered
employment as City Manager to Mr. Ray S. Wells, on March 21, 1972
at aninitialsalary of $27,500 base with $1,500 yearly annuity
premium.
WHEREAS, on April 1, 1972, Ray S. Wells accepted said offer by
the City Council ofIowaCity, Iowa:
WIiEREAS, on May 1, 1972, Ray -S._ Wells assumed the position of
City Manager in the employment of -the -City of Iowa City, Iowa.
WHEREAS, the City of Iowa City, Iowa, has in its employ at this
time, Ray S. Wells in the position of City Manager.
WHEREAS, Ray S. Wells is and will be rendering valuable services
to the City.
WHEREAS, the City has considered the establishment of a deferred
compensation plan for the City Manager, Ray S. Wells, made avail-
able to the City and to the City Manager by the International
City Management Association Retirement Corporation.,
WHEREAS, certain income tax benefits accrue to the City Manager
through participation in the said plan, and
WHEREAS, the City recognizes that the tax advantages of the said
plan to the City ,Manager _constitutes a benefit to the City by
allowing the City to offer an additional "fringe benefit" in
recruiting and retaining qualified personnel in its -employment
at no cost or charge to the City:
WHEREAS,-since:Ray S. Wells, City Manager, has been employed by
- the City of Iowa City, since May 1, 1972, and a deferred compen-
sation agreement has not previously been enteredintobetween
Ray S. Wells, City Manager, and the City of Iowa City, -there is
a sum of 'money held in trust by the City of Iowa City for
Ray S. Wells, City Manager, as -of May 1, 1972, pursuant to the -
offer of -employment -addressed to Ray S. Wells, City Manager, on
March 21, 1972.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
IOWA CITY THAT. THE CITY ESTABLISH THE SAID DEFERRED COMPENSATION
PLAN FOR TIiE CITY MANAGER, RAY S. WELLS, AND FOR THIS PURPOSE
AGREE TO THE FOLLOWING:
That the Mayor and the City Clerk of the City of
Iowa City, Iowa, are hereby authorized and instructed
to execute on behalf of the City of Iowa City, Iowa,
a deferred compensation agreement between.the City
of Iowa City, Iowa, and Ray -S. Wells, City Manager,
and also execute on behalf of the 'City of Iowa City,
Iowa, the trust agreement with the International
City Management Association Retirement.Corporation.
The two above mentioned documents being attached hereto as
Appendix A and B.
_2_,
Resolution
No. 73-547
It was
moved by _ White
and seconded by
Hickerson that the foregoing resolution be
adopted, and upon roll call there were:
AYES:
NAYS: ABSENT:
x
Brandt
x
Czarnecki
.{
deProsse
.
.{
Hickerson
White
Passed
-and approved this 21st
day of
December 1973
MAYOR'
ATTEST:
l -lam Lc! , �i L LCILU
City Clerk _j
(Ia in, "5.a, aod us n.::. •n � .
l USt -. -_ EMPLOYER January .174
,D
..
AND -- - DATED AS OF -
Is-
-I-,
E
INTERNATIONAL
`..� CITY {
MANAGEMENT
`ASSOCIATION
RETIREMENT
CORPORATION,
TRUSTEE
i r
I
City of Iowa City; Iowa
i HENT mar'. by and between Ih0__
the "Employer') and the I.IommlOmni City Management A.soerahon Rutiremunt Corporation (horoinaltur thea '?ma:co or 'ne:iro m •t I _
- r;.-•aar.,i •);anon-pram carporatlon organized nntl axlding undur tau laws -ol the StateofOalnwaro, ler the perposa 1,l investing sad a;nau ,cu -•. '
! - ; ro,g funds sat :hide by Employers In connection with Dalefrod Compensation Agreements with Empioyosa. -
•..+.. ,EAS, ThE Employer desires to enter intoagreementswith its EEmployees. whereby it. Employees ogres to data paymaAtq ole opu'•'c
of or wmo.rus Irom their total compensation as "detailed compensation" Is daflnod n said agreements until Iho aeecrro:•_J Ot
Vh,UICAS, In order that there willbe sufficient funds availnhlo 10 disefmrgo the foregoing contractual obligations. the Employer: Jstroa
- - 1.: •a. :.,;da r+or.odw amount. equal to It,. percentage or amount of total periodic eumpensnlian deferred; - - -
il.a finds .el aside, together with any and .11 Investments, I.molo, nwr to be osefuclveiy within the dominion; control ...it i I.
1,l Inc ETPIOyvr, and .select to the Employer's absolute ,IBM of withdrawal, the Employee having no Interest whatsoever Choreic; :- 1
- 9, TorrIEFORE, this Agreement wilno»oifY that .(a)-tile Employer will pay monies to No Tlesleu to be placed In dofurrod compun:a::ea r
_�.. „r the Employ.,: III). the Trams. co.... nm that 11 will holdAidsums; and any sins lends which it may receive hereunder, in%milt lot
1. r u sial purposes and upon the terms and conditions heminnitar slated; and (c) the Pont.. hemi. sera. as follows: -
Ai.71c,E I. General Duties at the Punier. - -
S.-.111011 T.I. G"mr,41-Duly of the Employer. The Employer shall make regular pernax payments Critical to g1e p0ro01118205 of ar a5avria from
. .. •-'s •st n r 1:.Pfoyca., r.:.I p.olmG. compensation, whim -arae-dahvrod no accordance: with the terms and conditions of Deferred Como ft•.aLun
a"`I +
meals with such Employ..., or withany subsequent modification Ibow01.
S. -T... 1.2. Genemi Delta. of the Trustee. This Trustee shall hold .Ii fends roc.i,.d by it homund.q which, :oge:hor with It.. •ncomu.:n":c:: o.q -
s=aB wotw,.tm th. Trust Funds. It shall administer the Trust Funds, collect it.. income thereof, and make payments IhemUarr -ai1 s t.o,cin"po. -
,. uviL..U. The Trusim• .bell also hold all -Treat Funds which are transferred to it as suecusxor Trustee- by the Employer from cx stfnf. Cu:uu�e
r.•mpt .:. ,;ion nnangnmmnb with Its Escalates. which most In. same Internal Revenue Code r.quiromunts which CaYmn too ICIaA-fit. Da,u,c. - e
Pian. Such Trust Funds shall be subiuct Co all of Ihu lanes nntl provisions of this Agreement._ _ See Appendix A
ln7iC1.E 11. Power. snit Duties of the Trusloe in Investment. Adminf.lralfon, end Disbursement of Cho Trust Fund.
Z.I. Invaure
anem Povmand-Dulles oftheTrustee. The Trustee shall have the power In ds-diserution 10:,ncul ane .•:,axes.
nr TJ sod income Of the Trust Funds and keep the Trust Fund, Invested without distinction bolwounprincipal and lncm:m; iA S41CII ',cc:nm_ u: -
,i� a: p.np.rty, mal or personal, whom,., .Counted, as Iho Trude. -shall -deem advisable, including. but not limited to, stocko. commas or .:r
::.
-.;1,1rront annuity pollees; mortgages. sea ether evidences of Indebtedness or ownership. one in eommer. trul.1 fuLds of opr0.ad
Ir s6unens. with such institutions acting no Trusluo r1. such-cominan : trust leaser For those purposes. thus. Trust Fond;: -::,.y
.urs. ,,pad with others established by Cho Trustee under this form. of agreement with enter Employers.: In making such mvealmunia, Ino Tust�u
m-: ou subject at any time to Any legal Coronation governing tau invosbaanl of such funds - _ - --
LCcarm i% AdimnNlrngve Powers DI Cho Tmame. The Tivalea blm:i have the power In its dlaer.Ilen: v_ 1
I:.j Ta purchase, or subscribe for, any securities or other prrrpuny and to retain the same In trust. - -
Zn; To sell, erclmngo. convoy, transfer at otherwisedispose of any securities or other property hold by it, by p ri•+ato curl nit, or c
au Uion. No Pamoo dealing with the Trustee shall be fenced to sou the application of the purchase money ort to Inquir iho inc
...podi.ncy, or pmprloly of any such sale at other disposition. -
,or Ta vole upon Any clocks, bonds,-ol other securities; to give gome-I or special. Prasios or power of attorney With or r.,li•u-
- - sr`•:'ipNron; to exercise any conversion privileges,-subscription rights. -or -other options. Anil to make Any. payments ins c-u.: .v -
-pose, or to consent to. or otherwise Participate .In, corporate. reorganizations at other changes-atfocilrg corporal uri,.; -
- irtcgate discretionary powers. and to pay any nseossmellsor ehArfous in cOmWchon therewith: and generally to awurcisu .toy e•of ee owner with respect to stocks, bonds, bna,nililm or other prapally hold as poll of the Trust Funds,
Iii Yu eau,. any socudllma or other moreety held m pmt el the Trust Ft .nd. in be raglderud In 11% Own name. and 16 held a t I": . ..
be Cann, but the books and records of Iho Trusleo shall at all Limos show that all such Invostmantu Are a part u1 Ill., Tract
til) ;U borrow or mise money for the purpose of lite Trust In such amount, arta upon 0.ch forms rind conditions, ns Ihu Taal- -e
, 6im,cl e; arid. for any sum so borrowed, to Issas its p amosory nolo On Truslon, and to secure the repayment Content by plc tit •rt
my parr, at an. Trust Funds,. to. poison Canning mmroy In Ino TteRia. N,g11 he bound to *atothe application of Ih., nails, 1-11-1 oo' I-
nun ns viom11y, ..pmlls0sy of prnpd.ty at .,IV ..eh bnuawlee _
p- ,a -kn'W such 1,0010. sl lb. Trust Pundo IA Cashor arsh In ho,Q-- as Ino Yrvsmn, from time to ilmo, Play '140011 to to, 11. tie _sc i..!.. .,
- A: ibis TruN lYaalmid h.rebY.. wlih0ul iinb111ty for Interest thalami.
:v To accept and retainfor_such timean11 may I aern edvisa Dia Any. Wearinea or other property tocaivod or acquln.d r :. "-
„ereunder.Yon :her or not such securities or other properly would normally be par[hased as investmonG, norcuodur.
_ `n' T. m;•ke, .,.•eras, aconowtodge. and deliver tiny sad all documents of transfer and conveyance and any nail all athcr 1,11;:-.
_ a]y be neeaes:.,i or Appropriate to parry out the powers bolein granted. - - -
i o Sallie, compromise. or submit to arhuration Any cl ins, deals or damages due or aw:cg to or.. f-O:n :bu Trust Fund - -
1 •.,d :.ui's or kcal or admimalmlive proecodmgo: ono to n,pr..mrd Ino Trust Funds .n all sults and legal and admmrslrabvo Roe z... 1„... -
TA no all seen eels, take all such ploc.odings, ono vere+s-, all such Ciliate and Privileges. although not specifically
v..• Trustee may Users necessary to administer the Trust Fords and to parry out Ino purposes of this Trust. -- -
2.3. ihslnvuliona lam the Trust Funds. Th. Employv, hereby .lppomta the Trusts. as It. agent for purpasas .1 aclucling ua ..w :.01 L•,
from the Trust Funds Aro to be made. n, wall no for purposirs-of making such dlsuibuVons. In this regard the terms snit cm•a , .:_ -. - - _.
na Agreements to be O..C.led b.iwm.n the Employer. and Us Employees, and any sub..qu..t modifications thereof, aro to gu':au .. -
_ -1.4. 'Vale;,jam ut Tmst Funds, At least onto -a year as of Valuation Dates to signaled. by rho Trustee, Ute Trustee shall datcrik:au m, - -
a
Teral Funds. Asois -of tlm Trust Funds shall he valued el Choir market values n1 the cis-. of "slnecs on the Valu+cion Data, ar, at ins
;: raamhr n-u,n:•mnblo marker values ns the Trmleu shall nelenuino, on eeeordnne. with methods eonsidungy followed .arid end.;,,'-
lit. for Protection .1 Tsu.iaa.-- - -
3.1. :1411-nce. of Action by Employer. The Trustee any racy upon tiny eorblic.do, notice or dinottion purporting to ha o b.... Yin.•. _.
cu'aloysr whack the Trustee believes do have been signed by a duly designated official of the Employer. Na eommunica:.an :.r: -
.. ..cit i;ny.I. Ih,, Trust Fend.. al Truslo. until they aro rec,nvmd Uy iter Tl"stun. - - - -
- - 3.: r ov:ee of Counsel. Tito Tmslae may cease,t etch any ;agol counsel ♦.Rn respect to the construction o1 this Ag .oma,,-, ..
:or any act, which it proposes to take or omit, and scall not be liable Cor. any action taken or omitted in goad faith pursuant to sec.: �.....
The Trustee shat use ordinary caro and reasonabfa diligence. butshallnot be liable for any mistake a
Ir• e.ad faith. The Trustee shall not be liable for any loss sustained by the .Trust Funds by reason of any. mvaslm.n; ._.." .•
,.,.hd in accr.Nahee with the provisions of this Agreement.
-: seT punas a,-A aauaab Cna. s'tan tc lim.:ea to the” eapreasy Imposed upon it bymu agreement, n.wi1h.I.ndog ,ail
SicGan 4.1. Tax.re. Cha Trustee -shalt. deduct Irons- nnd. ebargu. ngoino in. Tnmt Funds any. I... s on Ill. Trust Fund. or the mcur.o r.ur.uo: or.
welch too Trustee mquirpd to pay with respect to the Inlerasl of any person lhurein. - - - -
Stenon 4.2. Expr acs. Tho Trustee shall dodect from and charge sgais:t mo Trust Funds An reasonable expuncus inesrred by the Trustoo in
i
_I the aC elalornlion of the Trust Funds,. including counsel. Adage/ and chief necessary Inas.
ARTICLE V Settlement of Accounts. The Trustee shall keep
other transactions hereunder. necurnfe nnd detailed accounts of all investments, receipts. disbursements, and
'
- -� -.- -
' I V.-ANIn 10 days niter the close of each fiscal year, the TwDloo shall render in duplicate to the Employer an account of Its acts and transactions 1
- as Trustee hereunder. If any part of the Trust Fund Shall be Invested through the modiurn of any common, collective or commingled Trust Funds,
the la acnuni report of such Trust Funds shMl be submitted will All incorporated in the necount.
I - --
It vlintn 90 days Arlo, the mailing of the Account or Any ame:adod account the Employer has not filed with :he Trustee notice of any objection
i u any act ortransactionof the Trustee, the account or amended _ account shall become an account slated. If any objection has been bled. and if a r --
1 iso Employer Is satisfied mot it should be withdrawn or it The Account Is adjusted to the Emp:oyar's satisfaction, the Employer shall in wr;ling fwd r I
6:4 Iho Trustee signify approval of the account and it shall beeenla an Account sihtod.,--.
' Cfnan an Account becomes an account stated. such account shall is Finally settled, and the Trustee shall be completely discharged and
as it Such account had been sallied nad allowed by a judgment or decree of a court of competent 'urisdiclion In an action of procaedrng - -
{in :rn ch the Trustee and the Employer were parties. -- - i
�he Trustee shall have the right to apply tit any time to court of competent jurisdleiton for the Judicial sattlament of Its account.
I
ARTICLE V1. Resignation and Removal of Trustees _. _..
Section 0.1. Resignation of Trustee. The Trustee may resign at any time by filing with the Employer Its written lasignidlon. Such rosionntion shall 1
f lai.a effect 60 days from the 11.1. of such filing and upon appointment of n successor pursuant to Section 6.3, whichever shall first occur.- -'
Section 02. Oamovnl of Trustee. Tho Employer may .Move the Tru Bloc ht tiny time by delivering to the Tlemcen written ollca of Its removal
nnf, an n pnintmanl of n silccrzsof - a
p purdunnl to Section 4g. Such removal chess not Intra olfoel r I
prior l0 60 days lore aUeh delivery unless the
- --.---TrU:hm apr.es to en entl(ar nlfaelivu r'nta.
Section 6.3.: Appointment of Successor Trusloa. The All-iniment n1 n successor to Iho Tmsien shall :Ake street upon the delivery to Iho
Tru:iso ('a) An Instrument In Writing exeeutad by Iho Employer n
ppoim nnd axenarnlln0 tach nucconsor tem Iiabilily sat Ila
c.: arid omissions of its prodaeossor. and Ib) an aecspinnes in writing, executed by such $usous:or.
-
All c, the Prov s on. ..I forth herein With rospoct to the Trustee Shall rolnlo to each successor with the same force and effect ns II Such
I ! .
- succesaarhid boo. originally named an Trustee hereunder.
It :r SuecasPr is nit sppniwithin 60 days after the Tnalea gives notice of its resignation pursuant Is Section 6.1, the Trc lea may a}„/ :a
Call,, m
i
any coof copetent 1 ristliclioon n to, tip•.+oi=Imam o1 n sa-urssor. -- - -
Sacllom 6.4;. Transfer of Fm:da. to Successor.: Upon he resignation or m.novnl of the Trusloo and appointment of v sates ser and asset the
:.!
fin.. recount of the Trustee has been propady settled, he Trustee shall transfer and deliver any of the Trust Funds involved to such successor.
ARTICLE VII. Duration and novueclion of Trust Agreamonl.
1
' SC ten 1 Durailon and Rovaeollon.. Thi Truss shall continue for such luso ns may be necessary to accomplish iso Pugroce for whicaj
c c :i. f but may be lens tinted or revoked at any time by the Cmpto•/er as it ndalas to arty nnd/or allrelated participating Employees. Vilillon :.One.
1
1 < ---ch I rneisbon or miroealion shalt hegivento the trustee by the Employer. Upon termination or revocation o Ihii, Trust a of ihi,I
1 _.':Of -h-11 rotor,, to and revert to the Employee vermination of this Trust --hail not, however. rolievo the Employer of the. Cmplolir co-1 .nu
a i-non to pe clAcrerd compensalion u
I - sb y pen the APPI(eoblu tlisbibulion J: a to any Ana/or each Employee with whom the Employer by u.tur,,.. i a
- rt a Compensation CmPio/mens Agreement.
-
Section -1.2.Amendment.
The Employer Shall have the right to amend this Agreement in whole and in Pali but only with the Trust s
(of, Any Stich dh n e d ens hn i become offaelivo m
upon (a) Jolivery to the Trustee of a written instrument of aondntom. Ann (b) Ihn endo'.- i I
by V-, Tr ,ah i na iu rl 1 1..........l of Ihn csunrrnl Insist..
- - i .RTMI.2 Vill.
1 decree 6.1. Lavrs. of the State of Dalaworo to Govern. This aProoment and the Trust hereby created shall be construed and regula:..d u>- :Lc i
- I Inver of ahs State of
.1:• _ r Eaglet.., Try. ler.. l n"!......final I,,rhu), ny n.r�arl ho "mc'.ed' Ian ["hill"”, A... I -Aro adnl1. if,, I'_,, 1 j
r�
••� • I tar 1 -dr n, 1' nry r •til•, tie, hr , n•• n I - Ir ua^ n. ........n .ossa 11 • rrgr rel I II n
, assn m •. n.- - -
I... r ., ... SSSS ,., . -r.. - .r: , _., .r. _. .,. n • a ..:. i 1.,. .. .. -.{
I _ L.n aria r unJ It aur.ptl,.r ossa else his "1"'.4 autos Ism r.ahlu.l mhs us rewla a umaraafall. _
iN VATNCSS MIEREOF, Dy Iso nu:h.rily of ib governing botly, the Employer has executed this Agraomcnl, and the natiranuni C r.o
has caused this Agreement to be executed by its authorized officer and its Soni to bu horeunlo. affixed, all as of the day and year tar.,( ..bola
lr
City of Iowa City, Iowa
SlgnaluN
i., AUT,:DiIIZEDOFFICIAL Cis, -CZ—er C. L. Brandt,,,Mayor f
I - - - Pnnt name find IAIo
( ISCAL)
1'
IIITCRNIMONAI. CITY MANAGEMENT. i
r p'60TO iORfl ASSOCIATION RETIREMENT CORP.
l 1<
ni?O., Ly
P .f1E EMPLOYER By; (t4
_ y l l
�'.. A7ii]7 iRutircmcnt Corporation):
t.f:au pnrtJion
iel deaten -
1 Cer
: t
_:. n-:m:JZ affil - �•
• `—'It01'J�a�-
'J,_
CITY COMPEi SA i Oiv
MANAGEMENT E6n.?LOYrIE,d):
ASSOCIATION AGREEMENT
i
' -RETIREMENT
1
CORPORATION
r
I
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AGREEGEUTenimersintothis 1St doY .I Januar 1g _; 74 between CitY -Of---
-_, Y
ToTaa City, Iowa
•
(l;oro:naltor referred to as Ilia"Employel-1, having its principal office at Citic Center , IOWa City Iowa - 52240
1
Ra S. Y1a!ls
a"d— y
I
(h0reineftar raforrod to os the "Employoo"), residing at
-
;I`
2315 Princeton Road, Iowa City, Iowa 52240
'
-
3
'
City Manager
yn1ER -AS, the Employoo Is and will be randorinp valuable sorviCos l0 the Employer In his CapadlV as
i
1
and -
jII
{
i
,
t Rc REAS, it is the desire of the Employar to have the benefit of his continued loyally, service and Counsel and also to assist the Employee in
I
arra a _
p for the contingencies of old apo dependency, disability, and death. - -
1
r
_
IT 13 r11EnEFORE AGREED: -
-
1. Deferred Compensation. There Is no limit on -tiro amount or poreenlago of. the feel compensation of the Em Ployoo which may be deferred by
.'�
She Employer under the terms of this Agreement- For the purpose of Ibis Agreement and the Trust Agreement the fallowing dulinitions apply:
a. "Total :ompensallon' is the lot -it of compensation to be paid by the Employer for the services of the Employoo, regardless of the tares
usod for Its components,. as, for example, "baso pay... 'in Addition to base pay." ate.:
i
b. "D.lunod componsnllon" is that amount or percentage ofthetotal compensation of the Employee which Iho Employar currently do lar.
from she payment to the Employee. and. Instead, deposits same into a deferred Compensation account with the Retirement Corporation under
-
-
- the terms of this Agreement and the aforesaid Trust Agreement; and
A. "Current compensation" is that p_orsian of the Employoo a total compensation which Is not deferred Componsnlon as deferred eomponsnllon
is defined heroin.
,na amount of falai compensation may be adjusted from time to time without nll0rinfl the forms of this Agreement. in the event o: on Atlru Imonl
Of :yo total compensation at any time during the fife of this Agreement, the -
9 percentages and/or the Proportional ay betweendjThom es to lira
:o::. compensation Its stated Oalmv in IhlsPnmprnph, -may, at the discretion of the potties. remain the same; or, !hay may be adjusted otherwise a •
mny
I ,
the Parlsas. however, the peroentago-or amount of tocol compensation agruad uponby the patsies as deferred compensation through :he use of [his
Procodure will be controlled by the terms of this Agreement.
As ,f . January 174
to—, the Employar will committed to pay, the Employee In the form of both cur -ant and. deferred
i
eor.:peri.ehon, as these terms ate relined hero and specified in the paragraph chocked and completed below:
-'
❑ Deforrerlcompensation shall be$ 1500. 00. current compensation will be 2$_-,500,00 Both XearZy
❑ Current compensation shalt be $ ; deferred compensation shall be In addition to currant eompensalian in :he amour. of
' 1
of current compensation.
❑ Total compormAtlor, shall be $ - `.re of which &hall be dalanod compensation.
f
-..
Anil - Cetera nd(us_Irnonl of -Iho_ Pulsating. of amount of deferred -compensation : shall be c.mmunldnlod to the Employer', AOam Ili - n •IL• ne
Corina Non pad Iia deposits in Ilia adjusted pmc.ntnges nnd1Of Mankato, if
changed born Iho prior. existing pereeninpos of proportional "mwc.• a
:flim dampen nil
if meth remain the coma percentages or ryaportionnl nmounss 1.
-- -
current or falai eempan salion, Abnil-Ihareafire, bis. lance u/ -
on
- ::beEmpiointo nto Ile Retirement Corporation Account. - - - - - - - ,
_
t
t Detailed Cnmpunsmion Account. Deferred compensation shoo be erodllud and Peld Into a Treat to be ostr bl(Ahad and m nil r
1
-
Y.A.li:,
I fen tenni CityfRmgnment Association Retirement Corporation ([retain referred to as Cho "Rellfemenl Corporation"),t
as Trustee. Io R_I'r
,rd
orax..bon is a ecn-profit corporation formed for the specific purpose of investing and oiberwiso administoring the funds of said Trus!. TI.n
i
uct
.n.:y Ju rcvoked At any time by Ilio Employer, and upon revOCvllon of said Trust, allofthe assets. thereof shall return to and raven to the Ent;
1
oyer.
Tia=mployar snail kacP nccurnlo books and records with rrspod t0 the Em ployoa's total compensation or other earned Income and with race._::,,
en,oeats Paid :.to sells Trust-- -
,
r
., Otmer%hip,. of Fund Neither the Emplovice nor. any beneficiary ther.nf &hail have any mturost.. Whataeyer In the funds paid Iota
r.., cn.n rut,
aon Account or in 11u, nceumulnllons or any increa is ort such hinds, which shall al all limes feel as nn nwot .1 the Bat Ploys:, &. i c:
1
to T: ah..rllim dominion. control; and right of wilhdrawai until such time as Ilia funds or. Iissels of the Account tiro distributed to the Emp.cy it it
-
(
cie-Inco with filo- - -
Novisions of this Agreement. The obligation rllha Employer to my dafmrotl eompensalloo is caniracluat only, tl's'Emfu ryca
L 'r:p no Preferred Or spacial interest or claim,byway. of Trutt, annuity, -or olherwis.,-In
'
1".m;
and to the specific. funds and Assets hold In-tho-Celcrw:l
n .aloe Account. The comreclual obligations o1 me Employer to Pay deferredcomPensaticn 10 Cho EmployedOfhis: bonaliciary-cn ft. --
CA 1'4r
[ f
!
j
r bo distribution Child shnll be .continuing obligation: upon:heEmployer, and shall not be ralldved by any ntroam0nl between 1110 e,
1
1
otper party, exeapl os provided in Saetlon 2 of Paragraph tl of this Agreement( and shall not be n1loCiod in any manner by omen dmonl or
rancllion of the Trust returned to in Paragraph 2 herein or by reversion of the Trust Funds to the Employer. The
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provisions of this Parnpnph hal
cupo:icdo and control any other provision of this Agreement which could be interpreted Io be in conflict therewith. :-
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<- vu nmialranon of rends. The funds deposited in the Deferred Compensation Account shall be Invested end reinve:lod by 110 Rclir. tar.:
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Ger P= Bunn Irl Any manner which In Its solo discretion It deems desirable,. without regard at any time to any front limitation govomlor the Irvasl
..r
of a:r_n funds. The Account $hail also reflect the gain orloss resulting from ilio Investment and reinvestment thereof. This T•
- est Fund 'm, L_
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comm:ngied with others established by the TIe$ta under this form of agreement with other Employers.--`
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A.
-- A. 7 ymenl of Deterred Compensation. At such lime as the Employee roaches ape 60, or Inter, at the end of Ills emnlnveannt :roue f
j
: r 60 1.1 t In Ina gmpfpv of Iha l..Ip IP 4f p!pt Itr etlalnaCliff-. - - ",
B Y i ,P.Qp nl Ira yetis pAGnmpe p9fm IPsylly p;;yintd, yf dt06, u � c JYFr u
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bogliwAft el I!i ifairNh !Id3t IISNIIll" NI Nilelif Wale o"11111 lit IdN@Ivg hflullie"( Ill Ilif1 Ill iNl!.9 LtPW�aAfdiidil A1:dliu.tt 9dt;la:...`
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cn which one of the f^- .mg occurs. Paymenis occasioned by the Employee haviny raaehed IIIc age of 60 years, or later, of vu ; ti:
and -+ - - !
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i me,o,or I aw cmenl, If EmPlov_G continues In Ilio employ of the Employer after he Mains the _age 21 Ck) roto, Or beeomsa Patmanonlly rI
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or dlas.hnJ be made In ncaordanco with the provisions of Paragraph 0 he -oaf 03 lolioss: -
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a Payment in O lMy, quarterly, soml-annual or annual payment s over. WO ndry t -m-
.eaod of life axpennat the Employee in aeeorda.o •.!Ili
t . tattooing procedure: - _., _ - - .
!.
U cn reachi.; the aro of Fla years, or late,. at the -end o1 bs emy -ae-1 np•enmem, if me Employee remains 1n the employ of the Hmpi
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,dor he attains the are of CO years,. or becomes permanently d.ss led f:sn gmilxt ra:f•blpe employment,' YlhlchOVOf first OCLUI'.. Cho
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ErtPloy ao's Ilia capodanry shall be dolarmfned by reference to Standard O:Vc Mortality, Tialas; the amouals of asset and aceurnulafWas -n
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the Gefmred Compensation ACccunl shall be Compbled 109elhat With a readGisbls fele Of return an said e11et1, leaf the amb:•at of aghSf[d -
7
- n I iy fist n 1 IWII I1v1 Ilio nxpacy of it... Empley.e; and a umnlldy un tan shall Ilrou.nIln01 h-I c.. q o I ....limit, '
mw
M richIn 1 u,l mol Ibi, budnlInfants over the period of Wo uxpoclancy OI Ili. Employee, shall completely deplete Ills said Account al the i
m t of 11 u 1351 year of Ilia expectancy: or - -
f b, Payments in ...fill/, 11,11111, a, annual payments in ...Or anco with the following procedure:
i -dates' the. Emplo100 s C.Dloy'moni Imminates prior to 1110 time he attains the ago at 60 years, amounts equal to the bumelits fuceivi,d by.he
' - .pioyo -mill rutiromenl annuity policies, chill be paid to the Employee. at such time as he attains the ago of 60 years or atw. the End 1
of his amployinmm aGreemmil, if !he Employee continues in the employ of the Employer allot he attains the ago of COyears: or, ;n filo case at 11f
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c 'Jh, t nymm a to fee bonuflelnry or beneficiaries, nomnta , or ..Into pusuaal to the procedures provided In sold policies and Paragraphs G and f
7 al tel /.proomonF, or -
c. Payment, m monthly.
y. 4mnnriy, some-....neon or ....nein Inslnihnanis over n period of exceeding ion (10). yen., said payments to include`
a reasonable return on the hinds, assets tied nccunminO... In the Detailed Compensation Account, loss the amount of expected monthly,
- f quarterly, sum!-rnnunt, or annual distribution, over the said ton (ID) year period; or
d Ono lump sum Payment.
L SzIaetien at !.:allied of Payment The method of paymonl shall be selected by the Employer, acting through Iho Retirement Corpara on as its.
u IY authorized ngenl, duo consideration being given to the health, financial circumstances and family obligations of the Employee. In this leuard, 1114
Employee may be consulted: however, he shall have no voice in the decision reached. - I
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7. Payments In IM10 Event of Death.-
a. During Iho Period of Distribution. In Ilia Oveal of Ilia Employee's dealt, during the period of distribution, the Employoe's borralielary cbail
be un1i11oJ to receive payments in nerortlanen wJh the payment method being employee at the time of the Employeo'c death. viii -h, ,
! Cannon: of the Employer, acting througn theRetirementCorporation ns Its duly authorized agent. said beneficiary may elect:arecolxe a'
I IuaP'sum i0 If., of Installment payments.
- i b. Prior to Disvivulion. In the oven( of the death of the Employee prior to the distribution. the funds and assets of the Deferred Cemparsaion
i - Account shall be paid In accotdancu with oro of the methods describedin subparagraphs n, b, C, or d of-Paragraph 5 haroot. The salecuon_ t
Of said method -hall be made by the Employor acting through filo Instrument Corporation, as Its duly authorized daunt. i
p rymcal Dates. Payments shall commence on the first day of the month, following the attainment Of ago 60, or later, on the limt day at lao I
manta .allot the and of his employment pgraement. if Employee continuos in :he employ of the Employer allot he attainstheago of 60-yams, or -
Di.0 - so following permanent disability, or death: and in the ease of Installment payments, shall be madecontinuously theraator on !he lira day of ,
succeeding month, a,. in the event quenarly, semiannual or annual
_ rlyyment, u1c.) installment u tilsuch
Periods time
applied. til, than continuously iharaa her on tato I
lint day of each irely- edinp month which begins the time paned (quarterly, uleJ involved until such Ilea. as the Dalurrue Compensation /rccoant is 1
-d,. p:Olad In its onlitoty
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' 5 Disbursing Agent. Thu Reliranont Corpomimn shall act as agent of Ilia Employer for purposes of disbursing payments. The ultimate eb:IGatlaa t _
for W-1-11-1 sucl pay niq hew ver shall ...In w,th Iho Employer.
to Accumulation During the Distribution Period. During Ilia period of distribution, the Employ.. .1 his beneficiary or belgalf s :.ominu, or ,
co . ,he ease rally be. shall Conlinuu to be credited will, all the interest. accumulation. and Increments on the undistributed I. ads and
i in Iflu CLfurtod Con Pcas:dean Account, until such Account is depletud in Its entirely.. - -
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11. Suction tTermination of Employment. UP.rI termination of. the Employeo's saavieus, for any reason other than death. the funds. aa,uts, and f
ac um.trf ons I+ the Deferred Componsalion Account shall not be transferred to an aceounl with a now Employer of has Employee. and. in tuaJ, l
/ nail remain in the ori Oinal Account n. assets of the Employor-unfit such time as they Oro distributed In accordance Wim the proviZoas ur ,
Ihu Agreement, except an provided in Section 2 of this Paragraph. !
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Section 2. Transfer of Employment with. Consideration Between EmplOYma—Tripmlifo Agreement.
in fino event the FnrPlayao ateopie employment with another' EsePloy.r having a Trust Agreement with the Retirement Cope nor. d o
I G-_* .f; a Componsntion Employment Agwamunt with the said Employee, Ilion, it Ilia Employer finds that It has no present or u:uro onea of jrwr,".
l., .,no accma lndons inthesaid Account for Ili. Pnymenl of general creditors of for say other purpose, and has he .:. o el ili..o r
u;, ta. revoke thin Trust for :he payment of its general :creditors or for any other purpose whatsoever, in'eonador.lmn of its desire to pv .:ho
r:: ;ns nP expense of maintaining records, and receiving, examining, verifying and filing annual reports of !he Rutirement Cor orale.;. ,a n
Car 'J ration avoiding voiding the possible future. expenses of litigation of Employeo's continuing contractual rights to payment of _deferral Comp I
on .as .hatrtmant ..m herein provided 1. the avan: of any Possible future revocation and withdrawal_ by. Iao'Empioyor of 110 fund.:.ua+, t
ace mil -rhon. in the said Account, it may, n1 its discretion, authorize the Retirement Corporation, as Its c.gent, to propose to Ihu new h pi
Ill. I.naj. ailads. led accumulation. of the said Account -be transferred to the ownership control, and right Of wllhdnvaof the flaw E - -
ta . o a in Ir h v 111 as. Employor. in consideration of Ilia mer n o 11 the value to Ihn t Employer of Employe,. lunru c ry c by 1 t
i:--$alh 1. I ley u U had ...'fill m Ihu unq.luy .r It ens, E e"Ititeq. all.all'a.s I hctmi slim.,. and Ill - eel r.ttt 1 h i 1 y ii,
,,n nt1 , pm•nelt. term of Agroomenl in which Ilia now Employer else agrees Io-Issuma the continuing eontractu.,l III bit try lu ,,,Ir
cu; a axion so Iranslonetl upon rellwmmnl of the Employee and 111. Employee releases the past Employer from said continuing oblhg:die:.:o Lo -
Zama.
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12 Lesion. The Employer shell not be responsible for any loss duo to Investment or failure of investment of funds and assets in Za:,f
Cmn,.om. alioi, Account nor shalt the Employ., be required to replica any less whatsoever which may result from said Invo.tmenh.. I
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' n •.. .. _ _r .tui.. ..r li-1 • .. t I .........-dean .Ili:• r'..f l.q Fn lu. ld-i n1..11gi•. r h( 1 I � 1111 11
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_-..) • •..:•.�.i .. i.....-., ! ,..... rl ,_. li_il ..ii i. ,li 1... .... ....itIII ........ • 1. -
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.1 1 r, i 1 „m I t feu 11 bile Lu'o. W n:i... a hddiva, oi Ii) I..1 u i
it bu u u I.rduad that the ri Gflt% Orad udmuula of fall Ern h, uo to any .,neat.. ee.bollafhl of as a pea •, ,, _ --
P Y / y pe flu J .r pun t t
nr,a I.
such plias rupedn wit shall continua all full tome unit .Ilial unimpaired, and the Employee shall have the ..gill OY any boo h.4c..
Dacmrp. ,. Uuretielnry under of pursunnl to any and all such pions. '
iL. Defimhmm. The meaning of nay form or forms, phrase, clause orsentence used in fills Agreement, which Is also used in t1. DPL wa E: ;:ie
I Tc.i: n til Carporaon, ch.dl be defined as those are dofinod in ARTICLE 11, Section of Ilio Dy-Laws. Masculine pronoun., whunuvar
hci, do the fe er-nn pronouns, and he singular Includes the plural unless the eamu+l requires another moaning.
11. V dm. .1 tyu mens. 7110 Ao-emnent shall not be valid or enforceable mita5 efgnad by an officer of Employer, uu horizcd to .i3., II ...v - r
-. ion nla-, body of far Errpe or. as, for example, Ilia City Ceuncil. ma.
1 ITGESS WHERCOF, _y the authority of Ilia governing body of the Employer, the Agreement has boun executed an Ilio data first wruun able a.
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i slm,ct City of Io:'�a City, Iowa_
1) c 7 _
EpMPLOYCfI
• ATr Jn..cD OFFICIAL City. C'1 r1C C• Brandt, Mayor
J _ —
_ C /POST iIOh
(SEAL) DY_
j Ray S. [yells, City :4anager j
I-EMPLOYEE
nPPFJ /. �5 -O FORM I
i.. nfTC ..c! i4' 711E EIAPIDYEfl
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- It ;f, Pr ll;;F 1.1; :IT CORV01idT1atf -
1
n, E74PLO VE s-
I a EG7PLOYEE
—"" INFORMATION
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;=ORrn
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I i EMPLOYER: i
iI Please complete the following blanks: i
O Cit of Iowa Cit Iowa
I -Full Name (City of, Count/ of, etc.):. Y_ Y�r -- - _-
Finance Director
Title of Official to whom torte^ ondence and reports are to be mailod• (not name) {
Civic
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Center, Iowa City, Iowa 52240 I
Address:
(include zip code) j
Employer's Federal Tax Identification Number: 42-6004$05
EMPLOYEE:
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( 1 Please complete the following blanks: -
Rays. Wells f•
?.:"moasiiappearsonagreements:-
Current Address (include zip code) 2315 PrincetonRoad
Iowa City, Iowa 52240
—_
• - - Date of Birth: Month March ; Day 1 Year 1934 i
Social Secur%y Number. 513 30 2129
International City
To which of the organizations sponsoring this plan do you belong? I i
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Management Association
DESIGNATION OF. BENEFICIARY (Complete this o t - _-
( portion only you have not .previously designated a beneficiary w. an
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e
entering the pi;m with a prev:•+us employer or it you wish to change beneficiaries)..
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' To whom shall the deferred compensation funds, assets and accumulations in -the ICMA-RC account be payable in caro -
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of your death? in the statement below, give: first name, middle initial and last name: Example: Mary A. Smith (not Mrs.
John Smith). For your children you may simply use the term "my,: children". and leave the share column blank his
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tom -Shall provide equal treatment amongyour children—present and future --born ol.any:-and all marriages and nny
- children legally adoptad at any time. In the event you choose to leave the deferred componsation. funds, assets and i
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accumulations, to a charily or institution, specify. its complete legal name and address. - - -
1. the undersigned, being a --participant in the ICMA-RC Deferred Compensation Planandthus having the sole tight
:o dosignato, chango, and successively change the poison, persons; or Institutions designated as beneficiary or belie-
-any
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ficiarlcs, do -hereby- direct -that. and all deferred compensation funds,' assets, and accumulations held for my
- relimmanl benefit by the ICMA Retirement Corporation (or any successor- thereto) :as Trustee for all of -my past,
present. and future participating Employers, be payable as follows if Jiving. at the time of my death: ...
NAME ADDRESS SIIAnE
• (Planso type or Print) - _--- - - -: -
adine��1 s -313rinceton�2oa"- Ic ; 01 wa Ci
y, Iowa
- -
- - - In :he event of the death of my beneficiary or beneficiaries prior to the date of . the distribution of the cieft..:.l
compensation funds, assets and accumulations by the employer,_.thon- to the following person;. portions,. or institutions
II hi rg at the time of my death:
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HAIAE ADDRESS
or print) _ _
(To no used for special provisions the Employee may choose to include).
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inadditionto any conditions stated. above. I direct the following (please print or type)
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t under nndtnv it the benefits aro paid tometinder ar♦ option requiring the. purchase of an annuity for myDenoi., !•
tint nr de :gnalion or'redesignation of a bcnaliclary 'qr benoIfdl8f)os p}oyy have to' bo re oatad al that ilmo. Ir•
;
it N rGlh 6.y fdgr�lli(til{I6nf� Ql ih �nl?uilf;/ ? tun?tor uii(Igr�ir)flr! !het ?HU 1Qy'I tltllf)iJ I�dgl�i1811P11 Nl a t gfivn I^+
b_„ehclat:os fdad,wlfh ICMA-RC as Trustee for any par.?cipeting employer, -aha+i, in'the event of my death prwr to - �•'
felt ristributIon to me alter my retirement, control the actions of ICMA-RC,- as Trustee In the distribution of th"
+j de cried compensation funds, assets and accumulations in the rZA-RC Account or Accounts. .
1-1-74 i!
-� Sip ed Dat. r i