1972-11-06 - Laserfiche WebLink

Home Browse Search

APPOINTMENTS RE: HIGHWAY SAFETY COMMISSION RESOLUTION RE: ICMA RETIREMENT REQUEST RE: SCHOOL BOARD BUDGET ON MOTION BY MR. BARBOUR, MR. JOEL M. COCHRAN AND MR. PAUL C. KNICK WERE RE- APPOINTED TO THE HIGHWAY SAFETY COMMISSION FOR THE FOUR YEAR TERM, EXPIRING NOVEMBER 1, t976. ON MOTION BY MRS. RINEHART, MRS. CATHERINE B. KLARFELD WAS APPOINTED TO THE HIGHWAY SAFETY COMMISSION FOR A ONE YEAR TERM, EXPIRING NOVEMBER 1, 1973. ON MOTION BY MRS. RINEHART, SECONDED BY MR. VAN YAHRES, THE FOLLOWING RESOLUTION WAS UNANIMOUSLY ADOPTED: WHEREAS, ON THE 5TH DAY OF JUNE~ 1972, THE CITY OF CHARLOTTESVILLE (HEREINAFTER THE "EMPLOYER'T) AND THE INTERNATIONAL CITY MANAGEMENT ASSOCIATION RETIREMENT CORPORATION (HEREINAFTER THE '~TRUSTEE") ENTERED INTO A TRUST AGREE- MENT FOR PARTICIPATION IN THE DEFERRED COMPENSATION PLAN OF THE TRUSTEES AND WHEREAS, ON THE 5TH DAY OF JUNE~ 1972, THE EMPLOYER AND COLE HENDRIX (HEREINAFTER THE "EMPLOYEE") ENTERED INTO A DEFERRED COMPENSATION EMPLOYMENT AGREEMENT FOR PARTICIPATION IN THE ABOVE STATED PLAN OF THE TRUSTEES AND WHEREAS, THE AMERICAN SECURITY AND TRUST COMPANY, THE CORPORATE TRUSTEE, HAS ADVISED THE TRUSTEE THAT UNDER THE LAWS GOVERNING BANKS IN THE DISTRICT OF COLUMBIA IT WILL BE NECESSARY TO AMEND THE LAST SENTENCE OF ARTICLE Ii, SECTION ~.t OF THE TRUST AGREEMENT AND THE FIRST SENTENCE OF PARAGRAPH FOUR (4) OF THE DEFERRED COMPENSATION EMPLOYMENT AGREEMENT IN ORDER THAT THE COMMON TRUST FUND MAY BE USED FOR THE INVESTMENT AND RE1NVESTMENT OF THE FUNDS; AND WHEREAS, ON THE 5TH DAY OF JUNE, 1972, THE EMPLOYER DULY PASSED A RESOLUTION IN FAVOR OF THE SAID TRUST AGREEMENT AND THE SAID DEFERRED COMPENSATION EMPLOYMENT AGREEMENT. NOW THEREFORE IT IS RESOLVED, THAT THE LAST SENTENCE OF ARTICLE II, SECTION ~.1, OF THE SAID TRUST AGREEMENT IS CHANGED TO READ AS FOLLOWS: "~N MAKING SUCH INVESTMENTS, THE TRUSTEE SHALL NOT BE SUBJECT AT A:NY TIME TO ANY LEGAL LIMITATION GOVERNING THE INVESTMENT OF SUCH FUNDS.'T~AND IT IS FURTHER RESOLVED THAT THE FIRST SENTENCE OF PARAGRAPH FOUR (4) OF THE DEFERRED COMPENSATION EMPLOYMENT AGREEMENT BE CHANGED TO READ AS FOLLOWS: "THE FUNDS DEPOSITED IN THE DEFERRED COMPENSATION ACCOUNT SHALL BE INVESTED AND REI'NVESTED BY THE RETIREMENT CORPORATION IN ANY MANNER WHICH IS ITS SOLE DISCRETION IT DEEMS DESIRABLE~ WITHOUT REGARD AT ANYTIME TO ANY LEGAL LIMITATION GOVERNING THE INVEST- MENT OF SUCH FUNDSo~ MR. VAN YAHRES STATED THAT THE SCHOOL BOARD IS ABOUT TO BEGIN PREPARATION OF ITS 1973-74 BUDGET. FOR THE PAST FOUR YEARS THE COUNCIL HAS DISCUSSED THE IDEA OF GETTING A DIFFERENT KIND OF BUDGET PRESENTED TO THEM. HE WOULD LIKE TO REQUEST THAT COUNCIL- MEN GIVE HIM ANY PROPOSALS THEY MIGHT HAVE IF THE MAYOR WOULD ALLOW HIM TO PRESENT TO THE SCHOOL BOARD AS A REQUEST BY COUNCIL FOR CERTAIN TYPES OF BUDGET PROPOSALS OR PRESENTATION TO US. HE ASKED THE COUNCIL TO MAKE THEIR PLEASURES KNOWN AS TO WHAT THEY WANT FROM THE SCHOOL BOARD IN THEIR NEXT BUDGET PRESENTATION. MR. VAN YAHRES SAID HE WOULD LIKE FIGURES ON HOW MUCH IS BEING SPENT AT EACH SCHOOL, ALSO HOW MUCH IS BEING SPENT ON CERTAIN PROGRAMS. THE CITY MANAGER SUGGESTED THAT WE APPROACH THE SCHOOL BOARD WITH THE KIND OF INFORMATION WE WANT AND ASK WHAT KIND OF PROBEEMS DOES THAT PRESENT IN GETTING THIS INFORMATION. THE SUGGEST~O~I!WAS ALSO MADE THAT THE SCHOOL BOARD BE OFFERED TIME ON THE CITY~S COMPUTER TO PREPARE THE BUDGET TO MEET STATE REQUIREMENTS AND ALSO IN THE FORM REQUESTED BY COUNCIL. ON MOTION BY MR. GILLIAM, ~E~ONDED BY MRS. RINEHART, THE COUNCIL VOTED TO GO INTO EXECUTIVE SESSION TO DISCUSS ACQUISITION OF PROPERTY, PERSONNEL AND A MATTER