Resolution 2754-03
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RESOLUTION NO. 2754-03
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3 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTH TAHOE
PUBLIC UTILITY DISTRICT AMENDING RESOLUTION NO. 2731-01
4 PERTAINING TO THE SOUTH PUBLIC UTILITY DISTRICT
DEFERRED COMPENSATION PLAN
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WHEREAS, the South Tahoe Public Utility District (District) has employees
rendering valuable services; and
WHEREAS, the District has established a Deferred Compensation Plan (the Plan)
for such employees that serves the interest of the District by enabling it to provide
reasonable retirement security for its employees, and by assisting in the attraction and
retention of competent personnel; and
WHEREAS, the District has entered into Letters of Agreement with the Management
Staff and Stationary Engineers, Local 39.
WHEREAS, the Letters of Agreement state "As soon as administratively possible
the District shall allow participant loans from individual accounts in the Deferred
Compensation Plan."
NOW THEREFORE, the Board of Directors of the South Tahoe Public Utility District
hereby resolves the Plan trustees are hereby authorized to amend the Plan to provide
participant loans effective June 18, 2003.
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PASSED AND UNANIMOUSLY ADOPTED by the Board of Directors of the South
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Tahoe Public Utility District, this 15th day of May 2003.
AYES: Directors Wallace, Schafer, Jones, Becker, Mosbacher
NOES: None
ABSENT: None
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