Resolution 2751-03
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RESOLUTION NO. 2751 -03
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A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTH
TAHOE PUBLIC UTILITY DISTRICT AMENDING RESOLUTION NO. 2663
REGARDING THE DEFERRED COMPENSATION PLAN
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, by providing increased flexibility in its personnel
management system, and by assisting in the attraction and retention of competent personnel;
and
WHEREAS, the District holds the Plan assets in trust; and Robert G. Baer, Plan
Trustee, is separating service from the District.
NOW, THEREFORE, BE IT RESOLVED that on the 20th day of March 2003, the
District amends Resolution No. 2663 and updates the Plan Trustees to be the General
Manager; Chief Financial Officer; and Director of Human Resources serving for the exclusive
benefit of the Plan participants and their beneficiaries. The Trustee's beneficial ownership of
the Plan assets held in the District's Plan and Trust shall be held for the further exclusive
benefit of the Plan participants and their beneficiaries, and the assets shall not be diverted to
any other purpose.
PASSED AND ADOPTED by the Board of Directors of the South Tahoe Public Utility
District this 20th day of March 2003 by the following vote:
AYES: Directors Wallace, Schafer, Jones, Becker, Mosbacher
NOES: None
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oard President
ic Utility District