R-2997-3-11RESOLUTION NO. 2997-3-11(R)
' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, APPROVING PARTICIPATION IN THE PUBLIC AGENCY
RETIREMENT SERVICES (PARS) POST RETIREMENT HEALTH FUNDING
PLAN TRUST AS RELATED TO GOVERNMENTAL ACCOUNTING STANDARDS
BOARD STATEMENT (GASB 45); APPOINTMENT OF THE CITY'S PLAN
ADMINISTRATOR; AUTHORIZING EXECUTION OF RELATED DOCUMENTS;
AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, it is determined to be in the best interest of the City of Allen (the "City") to participate in the
PARS Post -Retirement Health Care Plan Trust (the "Program") to fund post -employment benefits for its
employees; and,
WHEREAS, the City is eligible to participate in the Program, a taxexempt trust and plan performing an
essential governmental function within the meaning of Section 115 of the Internal Revenue Code, as
amended, and the related Regulations issued there under, and is a taxexempt trust under the provisions of the
relevant statutory provisions of the State of Texas.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY, TEXAS, THAT:
SECTION 1. The City Council hereby adopts the PARS Public Agencies Post -Retirement Health Care Plan
Trust, including the PARS Public Agencies Post -Retirement Health Care Plan, as part of the City's program
' of benefits, effective on the later of March 22, 2011 or the date as of which all documents required to
effectuate such Trust have been executed (the "PARS Legal Documents").
SECTION 2. The City Council hereby appoints the City Manager, the successor or designee, as the City's
Plan Administrator for the Program.
SECTION 3. The City Manager is hereby authorized to execute the PARS Legal Documents on behalf of
the City and to take whatever additional actions are necessary to maintain the City's participation in the
Program, and the City's Plan Administrator for the Program is hereby authorized to maintain compliance of
any relevant regulation issued or as may be issued; therefore, authorizing this person to take whatever
additional actions are required to administer the City's PARS plan.
SECTION 4. This resolution shall take effect immediately from and after its passage.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, ON THIS THE 22m DAY OF MARCH, 2011.
APP 4VED:
Stepheir Terrell, MAYOR
ATTEST:
Shelley B. Geo TRMC, CITY WECRETAWY