HomeMy WebLinkAboutR-73-0466•
RESOLUTION NO.
7'3- f/6 6
A RESOLUTION AUTHORIZING THE FIRST NATIONAL BANK OF
MIAMI, MIAMI, FLORIDA, TO DELAY THE TRANSFER AND ASSIGN-
MENT OF THE TRUST ESTATE BELONGING TO THE MIAMI CITY
EMPLOYEES' RETIRMENT SYSTEM AND THE MIAMI GENERAL
EMPLOYEES' RETIREMENT PLAN, AND TO PERFORM THE DUTIES
OF TRUSTEE UNTIL SUCH TIME AS A SUCCESSOR TRUSTEE IS
IDENTIFIED AND DESIGNATED BY THE CITY COMMISSION, AND
FURTHER ESTABLISHING A THIRTY (30) DAY MIMIMUM ADVANCE
NOTICE BEFORE THE DESIRED TRANSFER AND ASSIGNMENT
DATE.
WHEREAS, the City Commission removed The First National
Bank of Miami, Miami, Florida, as Trustee of the Miami City
Employees' Retirement System and as Trustee of the Miami General
Employees' Retirement Plan with notice thereof becoming effective
November 28, 1972; and
WHEREAS, the successor Trustee has not yet been identified
and designated by the City Commission; and
WHEREAS, The First National Banx of Miami, Miami, Florida,
is willing to delay the transfer and assignment of the trust estate
and is willing to perform the duties of a Trustee under the provisions
and conditions as contained in the existing agreement and applicable
ordinances until such time as the successor Trustee is identified and
designated provided that a minimum of thirty (30) days notice be
given in advance of the transfer and assignment when such successor
Trustee is identified and designated;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. The First National Bank of Miami, Miami,
Florida, is hereby authorized to delay the transfer and assignment
of the trust estate belonging to the Miami City Employees' Retirement
System and the Miami General Employees' Retirement Plan and is
further authorized to perform the duties of Trustee under the provisions
and conditions as contained in the applicable ordinances of the City
of Miami until such time as the successor trustee is identified and
designated by the City Commission.
Section 2. A minimum of thirty (30) days notice shall be
given in advance by the City Commission before the desired transfer
and assignment date as contained in Section 1 hereof.
PASSED AND ADOPTED this /4/ day of
1973.
PREPARED AND REVIEWED BY:
ROBERT F. CLARK
ASST. CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
ALAN H. ROTHSTEIN
CITY ATTORNEY
2.