12/12/1988 Meeting (2) - Laserfiche WebLink

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e Mayor Obie asked if the council's passage of the resolution would create any liability. Mr. Sercombe replied that the City is not taking on any responsibilities other than to act to receive information on behalf of the employees. It is not taking over a management role with respect to the assets, nor on anything in which it has a different fiduciary responsibility to the previous employees than it might already have. In his opinion, there was no liability being assumed by the City by the council's authorization of this trust. Anyone who has pension funds can ask that they be presently vested and remove their funds from the trust, so the action has the cooperation and understanding of the employees involved. Ms. Bascom clarified that the funds would not be taxable because the involved employees have not retired yet but have moved to another employment jurisdiction. No councilors other than Mr. Holmer indicated a desire to see the exhibits referred to in the resolution. Res. No. 4104--A resolution directing execution of the ICMA Retirement Trust declaration and dedicating program administration to the City Manager. Ms. Bascom moved, seconded by Ms. Schue, to adopt the resolution. Roll call vote; the motion passed 5:0:1, with Councilor Holmer abstaining. e, XI. APPOINTMENTS: MAYOR'S NOMINATIONS TO AIRPORT COMMISSION AND COMMUNITY DEVELOPMENT COMMITTEE Mayor Obie noted that the recommendations were made jointly by the Mayor and Mayor-elect. It was clarified that although Ms. Counard works with Mr. Bennett, that did not constitute a conflict of interest. Ms. Bascom moved, seconded by Ms. Schue, to reappoint Robert Bolton to the Airport Commission for a term ending December 31, 1992, and to reappoint Jami Counard and appoint Carol Rucker to the Community Development Committee for terms ending December 31, 1991. Roll call vote; the motion carried unanimously, 6:0. XII. CITY COUNCIL MINUTES: OCTOBER 26, 1988 Ms. Bascom moved, seconded by Ms. Schue, to approve the City Council meeting minutes of October 26, 1988. Ro 11 ca 11 vote; the motion carried 5:0:1, with Councilor Bascom abstaining because she was absent from the meeting. The meeting was adjourned at 8:15 p.m. to December 14, 1988. e MINUTES--Eugene City Council December 12, 1988 Page 9 -