CC Resolution 2013-046RESOLUTION NO. 2013 - 046
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA, CALIFORNIA, ADOPTING THE 415
AMENDMENT TO THE CITY OF LA QUINTA FISCALLY
RESPONSIBLE REDUCTION PLAN
WHEREAS, the City of La Quinta ("City") has previously adopted the City of
La Quinta Fiscally Responsible Reduction Plan ("FRRP") for the benefit of certain
former employees who voluntarily exercised their option to separate from City
service; and
WHEREAS, the City made a determination letter application to the Internal
Revenue Service ("IRS") requesting approval of the FRRP document; and
WHEREAS, on August 15, 2013, the IRS issued a favorable determination
letter with respect to the FRRP document, which is conditioned upon the adoption
of an amendment to the FRRP document that incorporates by reference the
requirements of Section 415 of the Internal Revenue , Code (the "415
Amendment"), a copy of which is attached as "Exhibit A".
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
La Quinta, California, as follows:
SECTION 1. The City Council does hereby adopt the 415 Amendment to the City
of La Quinta Fiscally Responsible Reduction Plan, which amendment is set forth in
Exhibit A to this Resolution, effective as of February 15, 2011.
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
City Council held on this 1 st day of October 2013, by the following vote:
AYES: Council Members Evans, Franklin, Henderson, Osborne, Mayor Adolph
NOES: None
ABSENT: None
ABSTAIN: None
DON A LPH, Oayor
City of La Quinta, California
Resolution No. 2013-046
415 Amendment
Adopted: October 1. 2013
Page 2
ATTEST:
s"-4� OWA---
SUSAN MAYSELS, 61ty Clerk
City of La Quinta, California
(CITY SEAL)
APPROVED AS",TO;
All
M.'KATKERINE J NSON, City Attorney
City of La Quint$,/California
EXHIBIT A
AMENDMENT TO THE
CITY OF LA QUINTA
FISCALLY RESPONSIBLE REDUCTION PLAN
WHEREAS, the City of La Quinta (the "Employer') has previously adopted
the City of La Quinta Fiscally Responsible Reduction Plan (the "Plan'); and
WHEREAS, the Employer has the right to amend said Plan in accordance
with Section 5.3 of the Plan; and
WHEREAS, the Employer desires to amend the Plan to comply with certain
regulations applicable to the Plan.
NOW, THEREFORE, the Plan is hereby amended as follows:
Effective as of February 15, 2011, Section 6.2 shall be amended to add the
following language at the and of such section:
"(h) Notwithstanding the foregoing provisions of this Section
6.2, the Plan shall be subject to the final regulations under Code
Section 415, the limitations of which are incorporated herein by
this reference."
This Amendment is hereby adopted this day of dcr"tk- , 2013 effective as
of the date set forth above.