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HomeMy WebLinkAboutPacket 09-18-2001CALL TO ORDER: PLEDGE OF ALLEGIANCE: ROLL CALL: PRESENTATION: PROCLAMATIONS: CONSENT AGENDA: 2ity of Cape Canaveral UNCIL REGULAR MEETING CITY HALL ANNEX ,enue, Cape Canaveral, Florida TUESDAY ;eptember 18, 2001 7:00 PM AGENDA Fall Beautification Awards Civility Week National Pharmacy Week 1. City Council Regular Meeting Minutes of September 4, 2001. 2. Policy for Street Signage at Public/ Private Roadways. 3. Law Enforcement Contract with Brevard County Sheriff's office. 4. Amendment to the Fire/Rescue Services Agreement. 5. Outdoor Entertainment Permit for the Brevard County Traveling Skate Park. RESOLUTIONS: 6. Motion to Adopt: Resolution No. 01-24; Establishing an Investment Policy. 7. Motion to Adopt: Resolution No. 01-27: Establishing a Defined Contribution Pension Plan. 8. Motion to Adopt: Resolution No. 01-32: Beach Access Easement Agreement. DISCUSSION: 9. Employee Health Insurance. 105 Polk Avenue • Post Office Box 326 • Cape Canaveral, FL 32920-0326 Telephone (321) 868-1220 • FAX (321) 799-3170 • www.fcn.state.fl.us/cape e-mail: ccapecanaveral@cfl.rr.com Cape Canaveral, Florida ,unci) Regular Meeting Iber 18, 2001 REPORTS: I. City Manager 2. Staff 3. City Council AUDIENCE TO BE HEARD: Comments will be heard on items that do not appear on the agenda of this meeting. Citizens will limit their comments to five (5) minutes. The City Council will not take any action under the "Audience To Be Heard" section of the agenda. The Council may schedule such items as regular agenda items and act upon them in the future. ADJOURNMENT: Pursuant to Section 286.0105, Florida Statutes, the City hereby advises the public that: If a person decides to appeal any decision made by the City Council with respect to any matter considered at this meeting, that person will need a record of the proceedings, and for such purpose that person may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. This notice does not constitute consent by the City for the introduction or admission into evidence of otherwise inadmissible or irrelevant evidence, nor does it authorize challenges or appeals not otherwise allowed by law. Persons with disabilities needing assistance to participate in any of these proceedings should contact the City Clerk's office (868-1221) 48 hours in advance of the meeting. WHEREAS, today's increasingly complex world presents challenges to all of us in our relationship with one another; and WHEREAS, every day brings forth reports of incidents of conflict resulting in violence between individuals and groups; and WHEREAS, such violence offends the peace and dignity of our neighborhoods, communities, and County; and WHEREAS, the Interfaith Alliance of Brevard County has proposed that a Week of Civility be conducted during the first week of October, 2001, by various educational institutions, groups, clubs, organizations, and religious bodies, and WHEREAS, the purpose of this Week of Civility is to teach the lessons of respect, self-respect and respect for others, to generate tolerance toward other people, especially those who are different, and to emphasize that respect and tolerance demand civil interaction. NOW, THEREFORE, 1, Rocky Randels, Mayor of the City of Cape Canaveral, Brevard County, Florida, do hereby unanimously commend and applaud The Interfaith Alliance of Brevard County for its proposing the Week of Civility and that all agencies, groups, organizations be encouraged to conduct CIVILITY WEEK September 30 — October 7, 2001. WHEREAS, pharmacy is one of the oldest of the health professions concerned with the health and well-being of all people; and WHEREAS, today, there are over 195,000 pharmacists practicing in the United States providing services to assure the rational and safe use of all medications; and WHEREAS, the use of medication, as a cost-effective alternative to more expensive medical procedures, is becoming a major force in moderating overall health care costs; and WHEREAS, today's powerful medications require greater attention to the manner in which they are used by different patient population groups—both clinically and demographically, and WHEREAS, it is important that all users of prescription and nonprescription medications, or their caregivers, be knowledgeable about and share responsibility for their own drug therapy; and WHEREAS, the American Pharmaceutical Association, the Brevard County Pharmaceutical Association, and the Joint Commission of Pharmacy Practitioners have declared the final and complete week of October as National Pharmacy Week with the theme Your Prescription for Good Health— Talk With Your Pharmacist. NOW, THEREFORE, 1, Rocky Randels, Mayor of the City of Cape Canaveral, Brevard County, Florida, do hereby proclaim October 21- 27, 2001 as NATIONAL PHARMACY WEEK In the City of Cape Canaveral and urge all our citizens to acknowledge the valuable services of pharmacists to provide safe, affordable, and beneficial pharmaceutical care services and products to all citizens. CALL TO ORDER: ROLL CALL: CITY COUNCIL REGULAR MEETING CITY HALL ANNEX 111 Polk Avenue, Cape Canaveral, Florida TUESDAY September 4, 2001 7:00 PM MINUTES Council Members Present: Burt Bruns Mayor Pro Tem Buzz Petsos Mayor Rocky Randels Larry Weber Richard Treverton Others Present: Bennett Boucher, City Manager Mark McQuagge, Assistant City Attorney Susan Stills, City Clerk Andrea Bowers, City Treasurer Ed Gardulski, Public Works Director Morris Reid, C.B.O., Building Official Nancy Hanson, Recreation Director Mayor Randels recognized Ms. Linda Frank, of Waste Management, Inc. Ms. Frank commented on the holiday pick-up advertisement that she forwarded to Ms. Kim McIntire for distribution to the Council. Mr. Treverton thanked Ms. Frank for the recycling information flyers. Ms. Frank responded to Mr. Treverton that the single -stream system is not used in the County at this time. Ms. Frank replied to Mayor Randels that there is no magnet to separate the tin from aluminum cans in the north -end recycling center. Mayor Randels asked if 35 percent is the recycling mandate for the state of Florida. Ms. Frank replied that she would provide recycling figures. CONSENT AGENDA: Mayor Randels asked if any Council member, staff or interested party desired to remove and item from the Consent Agenda for discussion. Mr. Treverton requested to remove Item No. 2 for discussion. City of Cape Canaveral, Florida City Council Regular Meeting September 4, 2001 Page 2 Mayor Randels requested to remove Item No. 4 for discussion. A motion was made by Mayor Pro Tem Petsos and seconded by Mr. Bruns to approve Consent Agenda Items No. 1 and 3. The motion carried 5-0 with voting as follows: Mr. Bruns, For; Mayor Pro Tem Petsos, For; Mayor Randels, For; Mr. Treverton, For and Mr. Weber, For. City Council Regular Meeting Minutes of August 21, 2001. 3. Florida Recreation Development Assistance Program Grant Agreement for the Manatee Park Picnic/ Restroom Facility, Kiosk and Trail. 2. Installation of a Vortechnics Stormwater Box by Atlantic Development in the amount of $24,587.00. A motion was made by Mr. Treverton and seconded by Mr. Weber to approve the Installation of a Vortechnics Stormwater Box by Atlantic Development in the Amount of $24,587.00. Mr. Treverton expressed concern with the proposed bid that was comparatively lower than other bids. Mr. Treverton requested clarification on the project. Mr. Gardulski explained that this is a pilot study at the wastewater treatment facility to generate reclaimed water from storm water. The plan is to capture stormwater runoff from the plant parking lot, run it through the equipment, deposit it into a lift station, and pump it through the plant. Mr. Gardulski said that he needed to work out the details on permits and project controls in order not to stress the plant with stormwater. He replied to Mr. Treverton that the box cost is approximately $22,000. He said that the grant for the project is a 50-50 matching grant with the St. John's River Water Management District and he has less than six months to complete this task. He related that the project is an Enterprise fund and not a General Fund expense. Mr. Gardulski commented that adding this extra treatment would enable him to use the current retention ponds for an alternative use in the future. The motion carried 5-0 with voting as follows: Mr. Bruns, For; Mayor Pro Tem Petsos, For; Mayor Randels, For; Mr. Treverton, For and Mr. Weber, For. 4. Purchase of Building and Code Enforcement Department Software from Information Management Services, Inc. in the amount of $10,240.00. A motion was made by Mayor Randels and seconded by Mr. Treverton to Approve the Purchase of Building and Code Enforcement Department Software from Information Management Services, Inc. in the amount of $10,240.00. Mr. Reid explained that this is a windows -based program that can extrapolate data and provide the necessary reports from building permit information. Mr. Reid commented that the program is also compatible with the Finance Department's software. He said that the program is a value added cost in that once keyed in, the data becomes a continuous record on that building permit address. Mayor Randels recognized that Mr. Thomas Bubb, Building Inspector, was qualified as a Plans Examiner. Mr. Reid replied that he would still send some larger plans for review to the Southern Building Code Construction International. The motion carried 5-0 with voting as City of Cape Canaveral, Florida City Council Regular Meeting September 4, 2001 Page 3 follows: Mr. Bruns, For; Mayor Pro Tem Petsos, For; Mayor Randels, For; Mr. Treverton, For and Mr. Weber, For. DISCUSSION: 5. Employee Health Insurance Program. Mr. Boucher explained that staff met with an underwriter and evaluated comparative costs on PPO plans. The underwriter suggested switching to the Bronze plan in order to save the City $28,000. Mr. Boucher reported that excessive losses were incurred in the previous year. He related that only similar PPO plans were evaluated and no HMO's. Mayor Pro Tem Petsos asked if City employees paid any portion of the health insurance cost. Mr. Boucher replied that the City covers the entire cost of an employee's health care coverage and the employee pays for any additional dependent coverage. Mr. Weber commented that an HMO plan allows use of any providers in its network. Mr. Treverton queried about the option of opting into different coverage methods. Mr. Boucher replied that staff would inquire if the League offers a cafeteria -style plan. Mr. Bruns expressed the need for employee awareness on the cost of health care at the City's expense. Mr. Boucher asked if Council would like to pursue an HMO. Council agreed by majority to review the health insurance costs by the number of plan options available. Mayor Pro Tem Petsos said that currently the City spends $3,555 per employee per year and that should be the basis of comparison. Mayor Randels explained for Mr. Weber that the loss ratio in the previous year exceeded the amount of premiums paid. Ms. Bowers explained that the analysis done was based on the data provided inclusive of gender and age. Mr. Reid commented that the proposed cost of living allowance would not cover an additional cost of heath insurance. Mr. Boucher said that he would inquire of employees regarding how much they would be willing to contribute for the Gold, Silver or Bronze plan as well as have staff continue research on the cost of HMO plans. REPORTS: 1. City Manager • Mr. Boucher, Ms. Bowers and Mark Sittig, Florida Municipal Pension Trust Fund met to talk over Pension Fund amendments and a merger with Citistreet Financial. Mr. Boucher outlined that the changes in the fund would reduce the vesting schedule from 10 to 5 years and gives employees the opportunity to self -invest funds with the help of Certified Financial Planners. He related that until the League consolidates accounts, they would invest assets in a bond or money market fund to protect the principal. Mr. Boucher said that he would provide Council a copy of the pension plan document for review. Council members declined Mr. Bouchees request to participate in the City pension plan. City of Cape Canaveral, Florida City Council Regular Meeting September 4, 2001 Page 4 2. Staff • Public Works Status Report Mr. Gardulski affirmed that the Washington Avenue sidewalk project would begin soon. City Clerk • Mrs. Stills announced that candidate qualifying began at noon September 4th and runs through September 18"' at noon. Mr. Hans Saurenmann, 349 Coral Drive, has qualified to run. City Attorney • Attorney McQuagge reported that he is still awaiting a response from Attorney Sack as well as a response on Cocoa Beach's choices of a mediator. AUDIENCE: • No comment. 3. City Council Mr. Weber • Mr. Weber questioned the work done on the Washington Avenue Park project. Mr. Gardulski replied that the City paid the contractor for the labor to remove the existing mulch, not to remove the concrete that was installed. • Mr. Weber also questioned the status of naming the Washington Avenue Park after Mr. Bennix. Mr. Boucher replied that the naming would be done after the landscape upgrade. • Mr. Weber reported on a beach clean-up project, Saturday, September 15"', to include people from Disney and the Titusville High School ROTC. Mayor Pro Tem Petsos suggested that the participants attend the Pancake Breakfast at Cape View Elementary School schedule on same morning. Mayor Pro Tem Petsos would provide Mr. Weber information on the Breakfast. Mr. Treverton • Mr. Treverton questioned the status of the appraisal on the building for the Building Department. Mr. Reid replied that he had two quotes from commercial appraisers at a cost of $1,700 and $2,200. Mr. Boucher related that he would like to meet with library representatives and discuss the potential of using the meeting room prior to pursuing the appraisal. Mr. Bruns • Mr. Bruns questioned about the potential reuse line extension across State Road 528 from the City of Cocoa water department. Mr. Boucher replied that he met with City of Cocoa and Brevard County utilities, Chuck Billias of Cocoa Beach and Mr. Gardulski to discuss the reuse line possibility. He said that discussion would follow with the Brevard County Commission and if the County pursues the project, the County would need to set parameters as well as seek funding sources. Mayor Randels expressed the City of Cocoa is ready to proceed with the project and funding is not an issue. City of Cape Canaveral, Florida City Council Regular Meeting September 4, 2001 Page 5 Mayor Pro Tem Petsos • Mayor Pro Tem Petsos restated his previous question about the Wendy's restaurant trimming the landscaping plants. He questioned if the City codes were in conflict with the Florida Department of Transportation requirements. Mr. Boucher responded that staff would seek an answer. • Mayor Pro Tem Petsos questioned about a complaint from Atlantic Gardens that referred to numerous drug operations. Mr. Treverton requested to see full reports from the Better Place Complaint Tracker through his laptop. Mr. Boucher replied that password permission is required to obtain the report function however individual requests can be tracked through the Internet. • Mayor Pro Tem Petsos requested the possibility of the City Charter and Budget on the Internet. Mr. Boucher replied that staff would pursue this possibility. • Mayor Pro Tem Petsos questioned how the City planned to patch the roadway in Harbor Heights. Mr. Boucher replied that Council had asked Mr. Gardulski to resurface the 200 Block of Harbor Drive. Mr. Gardulski was looking into using a contractor from the Cocoa Beach paving project to reduce costs. Mayor Pro Tem Petsos expressed to consider resurfacing instead of patching. • Mayor Pro Tem Petsos distributed employment projection information on Brevard County from the Annual Conference. Mayor Randels • Mayor Randels asked if anyone would like to serve on the Brevard Tomorrow committee. Mr. Weber responded that he serves on the committee as Executive Director of Keep Brevard Beautiful and would supply information to the Council. • Mayor Randels reported that the Economic Development Council has a new business information book. • Mayor Randels announced that Brevard County has one of the lowest unemployment rates in Florida and the United States. He expressed his concern that much of the County's revenue is derived from tax sharing. Mayor Randels summarized that the City is receiving a lesser percentage of tax revenue over time due to decreasing population in comparison to other cities in Brevard. Ms. Bowers responded that although the tobacco tax was removed, revenue was subsidized by the state sale tax. • Mayor Randels announced that the Radisson would host the International Space Station utilization from October 1 Vh through the 18th. • Mayor Randels asked for Council's thoughts on seeking grant funding from Florida Power and Light to plant trees using its "Right Tree at the Right Time" program. This grant was for $10,000 to plant four trees. Council agreed by majority to pursue only sizeable grants in that small grant funding might exceed staff labor. • Mr. Boucher reported that the pepper tree ordinance from Longboat Key was excerpted from its larger ordinance and Council would need to decide on specific language regarding planting non-native plants and enforcement for undesirable plants. Mayor Randels related that Council's consensus is to forego any further research on the pepper tree ordinance. • Mayor Pro Tem Petsos questioned street signs in that Mr. Boucher sent a memo stating that the City could not spend public funds to repair or maintain private roads. Mayor Pro Tem Petsos asked about marking a road for safety vehicles. Mr. Boucher replied that the marking constitutes maintenance. He said that staff needs a policy from the City to avoid ethics violations. Mr. Boucher related the Attorney General's Opinion requires stating the public City of Cape Canaveral, Florida City Council Regular Meeting September 4, 2001 Page 6 purpose such as, a citywide program on private roads that intersect a public right-of-way. Council asked staff to prepare a policy. Mayor Randels questioned about the status of the public works building. Mr. Boucher commented that although there was a rendition of the building, he did not have a building needs assessment report at this time. Mr. Nicholas questioned how much was set aside of Mr. Bennix' donation for beautification projects. Mayor Randels replied that Mr. Bennix' intent was to spend the donation to beautify the City and Mayor approximated that one-third would be utilized. Mr. Treverton reminded that staff was tasked at some point to consider the financial planning toward each beautification project. There being no further business the meeting adjourned at 8:54 P.M. Rocky Randels, MAYOR Susan Stills, CITY CLERK Meeting Type: Regular Meeting Date: 09-18-01 AGENDA Heading Consent Item 2 No. public/private roadways, (3) this policy shall apply to all private/public roadway intersections within the city. AGENDA REPORT CITY COUNCIL OF THE CITY OF CAPE CANAVERAL SUBJECT: CONSENT: POLICY FOR STREET SIGNAGE AT PUBLIC/PRIVATE ROADWAYS DEPT./DIVISION: LEGISLATIVE Requested Action: City Council consider a policy that will allow the expenditure of public funds to install street and regulatory signs at intersections where a private road meets a public road. Summary Explanation & Background: Public Purpose: (1) To provide clear, unambiguous signage that would allow ease of travel for residents and emergency vehicles, (2) regulatory signs protect the health, safety and welfare of those traveling to and from public/private roadways, (3) this policy shall apply to all private/public roadway intersections within the city. Attached is a listing of these types of roadways and the cost that the city will incur to place and maintain these street signs and markings. Please advise. Exhibits Attached: City Attorney opinion of 09-12-01; listing of public/private intersections. City merge, s Office / �' Department LEGISLATIVE ydocumen a ncti\meeting\2001\09-18-01\signage.doc MEMORANDUM TO BENNETT BOUCHER, CITY MANAGER FROM: MARK MCQUAGGE, ASSISTANT ATTORNEY DATE: SEPTEMBER 12, 2001 RE PUBLIC EXPENDITURE FOR STREET SIGNS Issue: Whether the City of Cape Canaveral can spend public funds to install street signs at intersections where a private roadway meets a public roadway? The general rule simply put, is that pursuant to § 10 Article VII of the State Constitution, a municipality may not lawfully expend public funds unless same is for a primary public purpose. Orange County Industrial v. State of Florida 427 So.2d 174 (Sup. Ct. 1983). However, the general rule of law goes on to say that a private interest may benefit from the public expenditure as long as same is either incidental or secondary to the public purpose. O'Neill vs. Burns 198 So.2d 1 (Sup. Ct. 1967) see also AGO 79-14 (Feb. 1979) It should also be noted that: Only the Courts and not the Office of the Attorney General can officially determine whether a particular expenditure of funds by a municipality violates the Florida Constitution. Short of a Judicial Adjudication of this matter, it is primarily and initially the responsibility of the City and City Attorney to advise the City Council as to the validity of an expenditure. _TT. Facts It is my understanding, and this opinion is based on the material facts that the locations of these intersections where street signs are desired, are where a privately owned or county owned roadway meets a publically owned roadway. Further, it is my understanding that the location of the installed street signs will be on privately owned land which may possibly confer a benefit to private land owners with public funds. Therefore, the above stated issue must be resolved prior to any action being taken by the City Council. III. Analysis As stated above, the general rule of law states there must be a public purpose for an expenditure of public funds, which must be the primary basis for such an expenditure noting that Mr. Bennett Boucher September 12, 2001 Page 2 private entities may benefit as long as same is only incidental or secondary. Therefore, it is the opinion of the City Attorney that if the City Council determines that the expenditure of public funds in this case is to convey to the public a benefit, and that is their primary purpose, such expenditures would be valid and authorized by the Florida Constitution. The public purpose in this regard may be to protect the citizens of the City of Cape Canaveral by providing clear, unambiguous signage which would allow for ease of travel for the citizens and residents of the City. In addition, the signage would allow emergency vehicles better and more expeditiously locate these areas. Therefore, in the interest of the health, safety and public welfare of the City of Cape Canaveral such expenditures would be valid under the Florida Constitution as long as the City Council determines and places discussion on the public record as to the public purpose. IV. Liability Notation It should be noted that in placing the signage at the desired locations, many being intersections, same should contain all appropriate regulatory signs. It being obvious that if the City were to simply place "street name" signs at an intersection location which would also require a stop sign or similar regulatory sign, but same was omitted, such failure may create liability on the part of the City should there be an unfortunate accident. Therefore, it is the recommendation of the office of the City Attorney that if the City Council provides street signs at these locations, in the further interest of the public's health, safety, and welfare, all appropriate regulatory signs should also be added. Please review the above memo and advise should you have any additional questions or concerns. MM:mem 0 t& SEP -12-01 03:24 PM CAPE CANAVERAL PW 407 799 4980 P.O? ;-& PRIVATE ROADS WITHIN THE CITY OF CAPE CANAVERAL THAT INTERSECT PUBLIC ROADS Ocean Garden Ln. Oak Manor Dr. Ocean Woods Blvd Beach Park Ln Fberwinc Rd. Cheri Down Ln. (2) Justumere Rd. Ranth Ct. Imperial St. (2) Brown Cr. (3) Commerce 51, 0) N. Carver St. S. Carver St Riverside Dr. Hitching Post Rd. Pretorlous La. Manatee Bay Dr, King Neptune Ln. Evelyn Ct. Park Rd, Tanker Tukrn Rd. Seaport Blvd. Beach Park Ln, Cueoa Palms Dr. Holman Rd. Cape Shores Dr. Shorewood Dr. COSTS FOR SIGNAGE, POSTS, HARDWARE, AND STOP BARS Posts — (34) $12.40 421.60 (9) 9x36 street nallic signs 23.75 213.75 (25) 6x24 street name signs 19.00 475.00 (9) 30" stop signs 42 A0 378.00 (25) 24" stop signs 34.50 862.50 (34) stop bars 24" 24.00 816.00 (25) Hardware 24" stop 12.70 317.50 (9)11ardwure 30" atop 31.48 283.32 Total $3,767.67 This is the cost for one time sign instullution only. We alway4 keep at Ir49 (2) extra signs in stock for each location. r SEP -12-01 03:25 PM CAPE CANAVERAL PW 407 799 4980 P.03 Banyan Wily Maple Ct. Croton Ct. Palmetto Ct. Seagrape C.t. Palm Wuy Cocoa Ct. Oleander Ct. Hibiscus Ct, Lantana Ct. Ilex Ct. Camelia Ct. Jasmine Ct. Honeysuckle way Bay Ct. Live Oak Ct. OTHER PRIVATE ROADS THAT DON'T INTERSECT PUBLIC 3 e f' ?3 Meeting Type: Regular Meeting Date: 09-18-01 AGENDA Heading Consent Item 3 No. I recommend approval. AGENDA REPORT CITY COUNCIL OF THE CITY OF CAPE CANAVERAL SUBJECT: CONSENT: LAW ENFORCEMENT CONTRACT WITH THE SHERIFF'S DEPARTMENT DEPT./DIVISION: LEGISLATIVE Requested Action: City Council consider approval of the law enforcement contract in the amount of $1,468,974 for the 2001-02FY Summary Explanation & Background: This is a re -write of the existing (2) year agreement that will expire on 9-30-01. This is a (4) year agreement with an option to renew annually. Funds have been appropriated within the 2001-02FY budget in support of this contract. This contract has been reviewed by the city attorney. I recommend approval. Exhibits Attached: Law enforcement contract City agerX Office Department LEGISLATIVE Ccap ydocu nts a ncil\meeting\2001\09-18-01\law.doc CAPE CANAVERAL LAW ENFORCEMENT CONTRACT 2001 -Zoos This Agreement made and entered into this day of , 2001 by and between the City of Cape Canaveral, a municipality, chartered in the State of Florida, by and through its elected City Council, hereinafter referred to as the "CITY", and Philip B. Williams in his capacity as the Sheriff of Brevard County, Florida, hereinafter referred to as the "SHERIFF" or "BCSO". WITNESSETH WHEREAS, the CITY is located within Brevard County, Florida; and WHEREAS, the CITY is desirous to contract its law enforcement services to the SHERIFF; and WHEREAS, BCSO is authorized by law to exercise its authority throughout Brevard County, including Cape Canaveral; NOW THEREFORE, IN CONSIDERATION of the mutual covenants, promises and other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, the parties hereby agree as follows: ARTICLE 1, DEFINITIONS: The following terms shall have the respective meanings hereinafter set forth for the purposes of this Agreement: City of Cape Canaveral Page 1 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 1.1 Administrative Secretary: A non -sworn employee of the SHERIFF whose primary duties are of an administrative role and management of the administrative functions of the Commanding Officer. 1.2 Capital Equipment: That personal property used by BCSO in providing service to the CITY with a fair market value of at least Seven Hundred Fifty Dollars ($750), examples of which include, but are not limited to, patrol vehicles, firearms, protective gear, computers, radios and office furniture. 1.3 Commanding Officer: The sworn law enforcement officer of executive rank employed by the SHERIFF and designated to administer the contractual services as provided by this Agreement. The Commanding Officer is responsible for the delivery of services, discipline of the personnel under their command, and to act as liaison with the City Manager, Cape Canaveral. 1.4 Community Policing Officer: A sworn law enforcement officer whose primary duties consist of Crime Prevention, special community projects, supervision and administration of the citizen Observer Program and programs targeting care of the elderly, such as, but not limited to, TRIAD. 1.5 Consideration Agreement: A legally binding written agreement executed by both the SHERIFF and the CITY as to the payment of consideration by the CITY to the SHERIFF for service to the CITY in a future fiscal year, i.e., a Consideration Agreement is valid only if it is approved, adopted and legally binding on all parties to the same prior to the beginning of the fiscal year covered by the Agreement. City of Cape Canaveral Page 2 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 1.6 Deputy Sheriff: A sworn law enforcement officer employed by the SHERIFF. The primary duties of this position are response to emergencies, crimes, public service, accident investigation and pro -active patrol of a designated geographical area. 1.7 Effective Date: October 1, 2001. 1.8 Fiscal Year: A period of time beginning on October 1St of the designated year and ending September 30th 1.9 General Crimes Agent: A sworn law enforcement officer employed by the SHERIFF whose primary duties include investigation of felony crimes, such as Burglary, Grand Theft, Robbery, Aggravated Assault, Aggravated Battery, Forgery, Fraud and other crimes designated by the Commanding Officer, Canaveral Precinct. 1.10 Lieutenant: A sworn law enforcement officer of managerial rank employed by the SHERIFF. This position is responsible for the administration of precinct operations, facilitation of continuing training of precinct personnel, coordination of emergency and tactical operations and may serve as acting commander in the absence of the Commanding Officer. 1.11 Patrol: The actual patrolling of Cape Canaveral by the SHERIFF through his deputies, and attending to an observed or reported incident or availability to provide law enforcement services. 1.12 Secretary: A non -sworn employee of the SHERIFF whose primary duties are of an administrative support role for the sworn positions and reception of the public. City of Cape Canaveral Page 3 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 1.13 Sergeant: A sworn law enforcement officer of supervisory rank, whose primary duties includes the direct supervision of a shift of deputies or specialty unit or assigned to a particular shift. This position is also responsible for the same duties as listed for Deputy Sheriff in 1.6. 1.14 Service: Comprehensive professional law enforcement and protection on a twenty four (24) hour per day basis, except hereinafter stated, including reactive patrol to enforce State Laws and City Ordinances; pro -active patrol to deter criminal activity; and traffic patrol to enforce traffic laws and prevent traffic accidents. 1.15 Shift: Service provided on an eight, ten or twelve hour basis (assigned at the discretion of the SHERIFF or designee) based on operational needs. 1.16 Special Investigations Agent: a sworn law enforcement officer whose primary duties are the investigation of crimes related to narcotics, controlled substances, prostitution and gambling. 1.17 State of Emergency: The facts, events and circumstances which result in a declaration of disaster or other state of emergency by the Governor of the State of Florida or the United States Government. ARTICLE II, LEVEL OF LAW ENFORCEMENT SERVICE: BCSO shall provide the CITY for the term hereinafter set forth, as the same may be extended in accordance with the provisions hereof, competent professional law enforcement service, within and throughout the Cape Canaveral City of Cape Canaveral Page 4 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 Jurisdictional Area. The SHERIFF shall at all times endeavor to provide the CITY with service similar to that which they would enjoy with a Municipal Police Department, to the extent and in the manner hereinafter described: 2.1 Provide 24-hour law enforcement services to the CITY and enforce all laws for which BCSO has jurisdiction to enforce. 2.2 There shall be a minimum of two deputies on patrol within the jurisdictional boundaries of Cape Canaveral at all times in accordance with accepted law enforcement practices. During any exception to the foregoing because of illness, emergency, or any other reason, patrol services may be augmented by mutual aid service. Patrol shall be construed to mean, the actual patrolling of Cape Canaveral, or attending to an observed or reported incident or availability to provide law enforcement services. Service shall include reactive patrol to enforce State laws and City Ordinances, proactive patrol to prevent and deter criminal activity and traffic patrol to enforce traffic laws and prevent traffic crashes. BCSO further agrees there will not be more than two deputies assigned to Cape Canaveral at a time with less than one year of experience as a law enforcement officer. 2.3 A representative of BCSO shall be present at City Council meetings or other public meetings when so reasonably requested by the City Manager or their delegate. 2.4 Commencing on the Effective Date, staffing provided by this Agreement will be as follows: 1 Commander (shared position with Port Canaveral) 1 Lieutenant (shared position with Port Canaveral) City of Cape Canaveral Page 5 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 3 Sergeants 11 Deputies 2 General Crimes Agents 2 Community Policing Officers 1 Special Investigations Agent (shared position with Port Canaveral) 1 Administrative Secretary (shared position with Port Canaveral) Secretaries (shared positions with Port Canaveral) 2.5 The annual costs for each class of employee is outlined on "Annex A" hereunder attached. 2.6 The percentage of salary and benefits provided by Cape Canaveral on the listed shared positions is shown on "Annex A". 2.7 BCSO shall make all good faith efforts to provide full staffing for all contracted personnel listed within this contract on the Effective Date. 2.8 BCSO shall make all good faith efforts to promptly fill any personnel vacancy occurring throughout the duration of this contract. 2.9 The Commanding Officer, Cape Canaveral Precinct, will supply a quarterly report to keep the City Manager informed of BCSO's activities within the City. ARTICLE III. ANCILLARY SERVICES In addition to those services and responsibilities hereinabove described, BCSO shall provide the CITY, with the following expertise, services and facilities as the same might be required from time to time on an availability/priority basis as determined by the SHERIFF. City of Cape Canaveral Page 6 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 3.1 County -wide Selective Enforcement Unit; 3.2 Helicopter Patrol; 3.3 Prisoner and Detention Center Services; 3.4 Homicide/Major Crimes Unit; 3.5 Canine Services; 3.6 Crime Scene Technicians 3.7 Watercraft/Boats and BCSO Dive Team; 3.8 BCSO attendance of meetings of the CITY, when requested. 3.9 Any Other Unit or specialty service developed by BCSO during the term of this agreement. ARTICLE IV. MAINTENANCE OF ABILITY 4.1 All Capital Equipment purchased by the SHERIFF, for use in the performance of this Agreement, with funds from the CITY under the terms of this contract, shall remain in the exclusive control of the SHERIFF until the contract terminates. Ownership of such equipment shall remain with the CITY at all times. 4.2 All equipment leased to the CITY by the SHERIFF shall remain the property of the SHERIFF, upon termination hereof. 4.3 The SHERIFF shall maintain an inventory of capital equipment, continually updated, and shall provide such to the City Manager. 4.4 Additional Purchases of capital items not included as part of the approved budget used for this Agreement shall be made only after prior approval of the City Manager of the CITY or his/her designee. City of Cape Canaveral Page 7 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 4.5 The City shall provide facilities for use by Sheriff in performing this contract. In the facilities provided by the City for use by the Sheriff, the City hereby agrees to provide for all routine maintenance, repairs and replacement of existing facilities, and shall provide janitorial services and, pay all charges for utilities, telephone and other services required for the operation of the facilities. The facilities shall be used for the sole purpose of providing the services as defined in this Contract. Any other use of these facilities shall be negotiated as to cost and extent. ARTICLE V. EMPLOYMENT RESPONSIBILITY All Deputy Sheriffs, Supervisors and other persons employed by BCSO in the performance of the services, functions and responsibilities as described and contemplated herein for the CITY shall remain BCSO employees, and no one of such persons shall be considered in the employ of the CITY for the purpose of pension, benefits, insurance benefits, civil service benefits, compensation or any status or right. Accordingly, the CITY shall not be called upon to assume any liability for or direct payment of any salaries, wages or other compensation, contributions to pension funds, insurance premiums, worker's compensation funds, vacation or compensatory time, sick leave benefits or any other amenities of employment to any BCSO personnel performing services, duties and responsibilities herein for the benefit of the CITY or any other liabilities whatsoever, unless specifically provided herein. Likewise, unless specifically provided to the contrary herein, the CITY shall not be liable for compensation, contribution or indemnity to BCSO or the employees thereof for any injury or illness, of any kind whatsoever, arising out of such employment and in the performance of the services, duties and responsibilities contemplated herein. ARTICLE VI. EMPLOYMENT: RIGHT OF CONTROL City of Cape Canaveral Page 8 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 The SHERIFF shall have and maintain the responsibility for and the control of the rendition of the services, the standards of performance, the discipline of personnel and other matters incident to the performance of the services, duties and responsibilities described and contemplated herein. 6.1 The CITY, by its City Manager, shall have the right to request BCSO to transfer personnel who, by mutual agreement of the City Manager and the Sheriff, fails to perform in a manner consistent with standards contemplated herein. 6.2 The CITY agrees to cooperate with BCSO, its Deputies and other departmental personnel in all reasonable ways in order to effectively provide the service required herein. 6.3 The ultimate control and direction of the manner in which any BCSO employee shall carry out and perform his/her duties under this Agreement shall rest with the SHERIFF; provided, however, BCSO agrees that it will cooperate with the CITY so as to concentrate its efforts in particular areas or incidents called to the attention of the Commanding Officer, Canaveral Precinct by the City Manager or his/her designee. ARTICLE VII. CONSIDERATION 7.1 The compensation to be paid by the CITY to BCSO for fiscal year 2001 — 2002 shall be the sum of One Million Four Hundred Sixty -Eight Thousand, Nine Hundred Seventy Four Dollars ($1,468,974) 7.2 Payments shall be made to BCSO by the CITY in the following manner: Personnel services and operating expenses in the sum of $1,371,174 shall be made in twelve equal monthly installments of $114,264.50, City of Cape Canaveral Page 9 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 payable on or before the fifth day of each month. Payments received fifteen days after the fifth day of the month will be subject to a five percent (5%) surcharge. 7.3 Capital purchases in the sum of $ 97,800. shall be reimbursed by the CITY as they occur, within thirty days of receipt of invoice, supplied by BCSO. 7.4 The Consideration Clause of this contract shall be negotiated annually through the budgetary process between the CITY and the SHERIFF. 7.5 Written agreement as to the compensation paid by the CITY to BCSO for each subsequent year shall be in force by October 1St of the affected year. Should a mutually agreeable contract price not be reached by September 30, of the affected year, the contract price will be equal to that of the previous year, plus 4% for operational increases. Additionally, salaries and benefits for BCSO personnel assigned to this contract shall be commensurate with that approved by the Brevard County Board of County Commissioners for the affected year. This amount may be adjusted by mutual agreement after the start of the fiscal year, after the CITY approves a budget. 7.6 The SHERIFF shall separately account for all services rendered by him hereunder and, to the extent that the Sheriff's cost of performance is less than the contract price for any given year, the CITY shall receive a rebate to the extent of such surplus. 7.7 The contract price stated herein above includes a portion of BCSO's indirect overhead, such as, but not limited to, Communications, payroll services, Human Resources, administrative financial services and City of Cape Canaveral Page 10 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 Accreditation. 7.8 Any request for modification of service levels contemplated within this Agreement shall be accomplished by written request to the SHERIFF, and if necessary, amendment to the contract price then in effect. 7.9 Should the CITY desire that the SHERIFF provide services at a higher level than contemplated herein, the CITY, through its City Manager, may negotiate with the SHERIFF regarding modification of this Agreement and shall bring such modification to the City Council for their consideration and appropriate action. ARTICLE VIII. SPECIAL EQUIPMENT: PROVISO BCSO shall provide, in furtherance of the fulfillment of the responsibilities imposed hereby and the intent contemplated herein, without additional costs therefore, additional marking with the name "Cape Canaveral", prominently displayed on Patrol Units. ARTICLE IX. NATURAL DISASTERS AND EMERGENCY OPERATIONS Upon declaration of a disaster or other state of emergency, declared by the Governor of the State of Florida, or by mutual agreement between the City and the SHERIFF, the CITY agrees to fund the additional personnel, capital and operational expenses, incurred by BCSO for the benefit of the CITY. City of Cape Canaveral Page 11 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 9.1 Any State or Federal aid sought in relief for such disasters or emergencies shall be the responsibility of the CITY. BCSO will provide documentation for all expenditures incurred. ARTICLE X. GRANTS The SHERIFF or his designee may inform the City Manager or their designee, of any Grants brought to his/her attention that would be beneficial to law enforcement operations at Cape Canaveral. 10.1 The CITY shall be responsible for the application, administration and disposition of any and all such Grants. ARTICLE XI. INSURANCE The SHERIFF agrees to provide law enforcement officers professional liability insurance coverage for bodily injury and property damage caused by an occurrence arising out of the scope and performance of the duties of said law enforcement officers and support personnel covered by this Agreement. The SHERIFF will provide automobile liability insurance for bodily injury and property damage for vehicles used by BCSO under the terms and conditions of this Agreement. 11.1 The SHERIFF may elect to join with a recognized self-insurance program with other law enforcement agencies to provide insurance coverage described above. Costs of such described insurance will be part of the funds provided by the CITY. 11.2 The CITY shall provide its own fire, storm, flood, property damage and public liability insurance for bodily injury, for the facilities furnished by the City of Cape Canaveral Page 12 of 17 Law Enforcement Contract Fiscal Year 200t-2002 Wednesday, September 12, 2001 CITY to the SHERIFF and shall name the SHERIFF as an additional insured, at no cost to the SHERIFF. 11.3 The CITY assumes all risk of loss not covered by insurance. ARTICLE XII. FORFEITURE FUNDS The SHERIFF agrees that within the provisions of Florida Statute Chapter 932, proceeds collected from operations originating by Deputies assigned to and within Cape Canaveral pursuant to the Florida Contraband Forfeiture Act will be utilized to enhance law enforcement operations within Cape Canaveral. Proceeds collected will be distributed pro rata in direct relationship to the percentage contribution of person hours that the Deputies assigned to Cape Canaveral make to the total person hours attributed to the operation from which the proceeds are derived. 12.1 Properties taken in contraband forfeiture cases within the City of Cape Canaveral shall be forfeited to the use of the City. Should the City accept the forfeited property, the City shall assume all legal costs related to the forfeiture. Should the City refuse to accept the forfeited property, the Sheriff may elect to transfer the property to the Sheriff's Office or may sell the property, whereupon all proceeds will be the sole property of the Sheriff. 12.2 Sheriff shall supply copies to the City, on a monthly basis, of all affidavits for recovery of investigative fees upon successful prosecution of active cases. The City shall provide a request of payment to BCSO of all recovered investigative costs, supported by documentation of award City of Cape Canaveral Page 13 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 provided by Clerk of the Court. Payment will be made to the City by BCSO upon receipt of aforementioned documentation. 12.3 Proceeds collected on account of investigations initiated after termination of this Agreement, shall be the sole property of the SHERIFF. ARTICLE XIII. TRAINING In October of each fiscal year, the CITY shall, upon funds being made available, transfer Ten Thousand ($10,000) of Police Education Income Funds (Second Dollar) to the SHERIFF, for the continuing professional education of personnel assigned to Canaveral Precinct. ARTICLE XIV. HOLD HARMLESS CLAUSE The CITY and the SHERIFF each will be responsible for any and all manner of action and actions, cause and causes of action, suits, trespasses, judgments, executions, claims and demands and losses and damages, costs and expenses of any kind whatsoever, including attorney fees and court costs, which may be claimed by any third party to have resulted from or arise out of the intentional or negligent acts or omissions of its own employees, officers or agents of the other, whether occurring before or after the CITY and the SHERIFF assumed the obligations of this Agreement. Each party will be responsible for defending any actions, claims or suits arising from any act or omission of its own employees, officers or agents. ARTICLE XV. DISPUTES AND DISAGREEMENTS City of Cape Canaveral Page 14 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 During the duration of this Agreement, all disputes and disagreements between the parties relative to either party's performance under the terms and conditions of this Agreement, will be presented specifically, in writing, by the party -claiming dispute. Thereafter, the responding party will answer specifically in writing within thirty (30) days to the claimant. Within forty-five (45) days thereafter, the parties will meet at a mutually agreeable time and place to either settle the dispute, or mutually agree to the facts and issues. Thereupon, if not settled, each party shall submit the issues to binding arbitration pursuant to Chapter 682, Florida Statutes. ARTICLE XVI. NOTICE Notices, claims and any other matter requiring written communication to a party shall be given as follows: To SHERIFF: Brevard County Sheriff's Office Attn: Philip B. Williams, Sheriff 700 Park Avenue Titusville, Florida 32780 To CITY: City of Cape Canaveral Attn: City Manager 105 Polk Avenue Cape Canaveral, Florida 32920 ARTICLE XVII. TERM OF AGREEMENT City of Cape Canaveral Page 15 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 This Agreement shall have an effective date of October 1, 2001, and shall remain in effect through September 30, 2005, with an option to renew annually thereafter, based upon mutual agreement between the CITY and the SHERIFF. ARTICLE XVIII. MODIFICATION: This Agreement shall not be modified except by a written Modification Agreement, signed and properly approved by both parties hereto. ARTICLE XIX. TERMINATION Either party may terminate this Agreement without cause or further liability to the other, upon written notice, to the other party. Written notice for termination shall be given not less than 180 days prior to the requested termination date. 19.1 Written notice shall be delivered by registered mail or certified mail, return receipt requested, and is deemed delivered through signed receipt. 19.2 Upon any such termination all further obligations shall cease, except payment for services rendered up to midnight of the effective date of termination. ARTICLE XX. LEGALITY OF AGREEMENT Any obligations of this Agreement that are hereafter determined by a court of competent jurisdiction to be illegal are void, and neither party will be obligated to further perform as to such obligations. If a nonmaterial portion of the total City of Cape Canaveral Page 16 of 17 Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 obligation of this contract is hereby severed, the balance of the lawful portions hereof will continue to be performed. ARTICLE XXI. TOTALITY OF AGREEMENT There are not other agreements or conditions, written or oral between the parties. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the day and the year first written above. ATTEST: SHERIFF OF BREVARD COUNTY, FLORIDA Philip B. Williams, Sheriff ATTEST: MAYOR OF THE CITY OF CAPE CANAVERAL, FLORIDA Rocky Randels, Mayor City of Cape Canaveral Law Enforcement Contract Fiscal Year 2001-2002 Wednesday, September 12, 2001 Page 17 of 17 Brevard Coun City of Cape Canaveral FY 200112002 Sheriff s Office PERSONNEL COSTS OPERATING EXPENSES CAPITAL REQUESTS $ 1,160,605 $ 210,569 $ 97,800 DISTRIBUTION OF CONTRACTED POLICE SERVICES BUDGET PERSONNELCOSTS CAPITAL REQUESTS ®PERSONNEL COSTS ® ®OPERATING EXPENSES ■ ❑CAPITAL REQUESTS � Brevard County Sheriffs Office City of Cape Canaveral FY 2001/2002 FRINGE BENEFITS FICA/MEDICARE RETIREMENT LIFE INSURANCE HEALTH INSURANCE WORKERS COMPENSATION $ F.T.E. REQUESTED F.T.E. REQUESTED 2,463 FY 2000- 108,489 BUDGET FY 2001- BUDGET SALARIES 2001 FY 2000-2001 2002 FY 2001-2002 COMMANDER 0.6 $ 39,059 0.6 $ 42,535 LIEUTENANT 0.5 $ 25,781 0.5 $ 27,715 SERGEANT 3.0 $ 116,686 3.0 $ 130,238 DEPUTY 14.5 $ 454,997 14.5 $ 490,371 ADMIN SECRETARY 0.6 $ 15,020 0.6 $ 16,195 SECRETARY 0.5 $ 9,401 0.5 $ 10,138 SECRETARY 0.5 $ 8,120 0.5 $ 9,922 OVERTIME $ 25,000 $ 25,000 SUBSIDY $ 10,740 $ 21,948 NEW HOLIDAY PAY $ 13,000 $ 13,000 SGT./LT. PAY PARITY $ 8,373 AGENT STEP PAY PLAN $ 8,557 SALARY TOTALS 20.2 $ 734,734 20.2 $ 787,062 FRINGE BENEFITS FICA/MEDICARE RETIREMENT LIFE INSURANCE HEALTH INSURANCE WORKERS COMPENSATION $ 54,278 $ 140,336 $ 2,463 $ 108,489 $ 43,132 $ 60,187 $ 141,074 $ 3,540 $ 120,160 $ 48,582 FRINGE BENEFIT TOTALS $ 348,698 $ 373,543 s _ Brevard County Sheriffs office TOTAL FY 2001 - 2002 BUDGET Cit'v of Cape Canaveral Contract 2002. REQUEST LINIT: CAPE CANAVERAL TOTAL Cape Canaveral Contract $ 1,366,313.00 $ 1,468,974.00 FY 2001 - 2002 BU ET REQUEST _ 80,141 2,000 2,000 15,634 3,200 150 5,120 12,185 _ 17,662 1,000 3,847 2,000 7,050 900 4,000 28,000 400 2,500 300 650 500 500 6,250 _______900 7,880 4,500 300 1,000 210,569 65,000 12,750 20,050 97,800 $ 1,468,974 ACCOUNT FY 2000 - 2001 BUDGET ACCOUNT TITLE REQUEST - 534027 Other Contract Services 80,141 534402 Education Assistance 2,000 535011 Investigations 2,000 541011 Telephone 15,634 541011C Cell Phone 2,500 - 542021 Postage 150 _544491 _ 544491 Rents & Leases 5,120 545411 Insurance - Vehicles _ 11,349 - 545412 Insurance - Prof Liability_ _ 17,662 545421 Radio Installation 1,000 - 545491 Repairs & Maint - Other 3,847 - 545491R Repairs & Maint - Radio Eq. 2,000 545491V Repairs & Maint -- Vehicles 7,050 547031 Printing 900 -- 551021 Office Supplies_ &_Expen_se 4,000 _552011 552011 Gasoline _ 28,000 552013 Chemicals 400 - 552065 Misc Furniture and Equipment 2,500 552102 Tools and Implements 300 552104 Safety Equipment _ 650 _5521 11 - Janitorial Supplies 500 552411 Major Fuels & Lubrications 500 552412 Vehicle Outfitting - Ops 2,020 - 552431 Fingerprints & Photos __552466 Other Operating Expenses _900 7,880 - 552485_ Uniforms 4,500 554011 Membership dues _ _ 300 554021 Books and Publications _ 1,000 TOTAL OPERATING EXPENDITURES 204,803 664411 Vehicles 25,000 664412 Vehicle Outfitting 2,800 664491 Other Equipment 50,278 TOTAL CAPITAL OUTLAY 78,078 TOTAL Cape Canaveral Contract $ 1,366,313.00 $ 1,468,974.00 FY 2001 - 2002 BU ET REQUEST _ 80,141 2,000 2,000 15,634 3,200 150 5,120 12,185 _ 17,662 1,000 3,847 2,000 7,050 900 4,000 28,000 400 2,500 300 650 500 500 6,250 _______900 7,880 4,500 300 1,000 210,569 65,000 12,750 20,050 97,800 $ 1,468,974 f ,Brevard County Sheriffs Office City of Cabe Canaveral Contract FY 200 1 12002 1 REPLACEMENT - MARKED FORD EXPLORER 2 CROWN VICTORIAS - REPLACEMENT VEHICLES 3 VEHICLE OUTFITTING COSTS 4 REPLACEMENT COMPUTERS @ $1600 EA 3 IN -CAR VIDEO CAMERAS @ $3800 EA. 3 A -R RIFLES (BUSHMASTER) @ $750 EA. 664412 CAPITAL FUNDING FY 2001 - SOURCE 2002 664411 $ 24,000 664411 $ 41,000 664412 $ 12,750 664491 $ 6,400 664491 $ 11,400 664491 $ 2,250 ADDENDUM THIS ADDENDUM is entered into this th da of September, .2a� by and between THE CITY OF CAPE CANAVERAL, FLORIDA, hereinafter called the "City", and the CAPE CANAVERAL VOLUNTEER FIRE DEPARTMENT, INC., a non-profit Florida corporation, hereinafter called the "Corporation". WITNESSETH WHEREAS, the City and the Corporation have entered into that certain Contract for Services dated September 26, 1997 ("Contract"), which Contract is for a term of ten (10) years; and WHEREAS, said Contract requires the City and the Corporation to re -negotiate the base contract price for each year of the Contract after the first year; and WHEREAS, the parties have agreed to a revised Contract price for the period October 1, 20W through September 30, 2@(6 I. NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties agree as follows: 1. Recitals. The parties agree that the above recitals are true and correct and incorporated into the body of this Agreement by this reference. s 0. Price Revision.- Paragraph 12 of the Contract is amended to read as follows: "The city agrees that in return for services specified herein, it will pay the Corporation the base annual contract price of . The compensation provided 33i i /75', _ .j for herein shall be paid monthly in the sum of per month commencing on the first day of October Viand continuing on the first day of each month thereafter. The parties shall renegotiate the base contract price for each successive year of this Contract c-� cr�C/) lfji "lan CJ c'P✓fit iv-✓ / ti i�F_ �fC �u2.�1�✓<C` +2 CCVFD Contract 2000/2001 Page 2 annually. The City further agrees that in the event of a catastrophic event, additional funding shall be provided by the City for vehicles, equipment, and supplies, less any disaster relief funding provided by another agency." 3. Continuing Effect. Except as modified by this Addendum, the Contract shall remain in full force and effect. IN WITNESS WHEREOF, the undersigned CITY OF CAPE CANAVERAL, by its duly authorized officers, has executed this instrument this JPth-d ay of Septembep-26Q�. C)G O / CITY OF CAPE CANAVERAL, FLORIDA, A municipal corporation By:� Rocky Randels Mayor Attest: =5�T Sandra 1 City Clerk (Corporate Seal) IN WITNESS WHEREOF, the undersigned CAPE CANAVERAL VOLUNTEER FIRE DEPARTMENT . a non -pro co ion, by its authorized officers, has executed this instrument t s 19th f Sef ptem e . 000. - CAPE CANAVERAL VOLUNTEER FIRE DEPARTMENT, INC., a non-profit /1 CorodAtion Attest: Secretary (CorporateSejal) 4 & -2- Preside Meeting Type: Regular Meeting Date: 09-18-01 AGENDA Heading Consent Item j No. Exhibits Attached: AGENDA REPORT CITY COUNCIL OF THE CITY OF CAPE CANAVERAL SUBJECT: CONSENT: OUTDOOR ENTERTAINMENT PERMIT FOR THE BREVARD COUNTY TRAVELING SKATE PARK DEPT./DIVISION: PARKS & RECREATION Requested Action: City Council consider approval of the outdoor entertainment permit for the Brevard County Traveling Skate Park. Summary Explanation & Background: This event will be held in the city park lot, south of the city hall annex on October 4-7, 2001. See attached correspondence. I recommend approval. Exhibits Attached: Recreation director's memo of 09-12-01; Outdoor Entertainment Permit Application City Ma eWs Office-"--- Department PARKS & RECREATION ca ydoc ents o ncil\meeting\2001\09-18-01\skatepark.doc CITY OF CAPE CANAVERAL PARKS & RECREATION DEPARTMENT 7300 N. Atlantic Avenue *P.O. Box 326 Cape Canaveral, Florida 32920 E-MAIL: 14 r tiwee k m llet TO: Mayor, Council Members, City Manager FROM: Nancy Hanson, Parks & Recreation Director DATE: September 12, 2001 RE: Outdoor Entertainment Permit The Recreation Department has made arrangements to bring the Brevard County Traveling Skate Park to Cape Canaveral October 4-7,2001. The ramps will be set up in the south Annex parking lot on Thursday morning. Hours of operation will be: Thursday the 4te and Friday the Ste from 3:00-7:00 p.m., Saturday the 6te from 10 a.m.-7:00 p.m. and Sunday the 71e from 1:00-7:00 P.M. No one will be allowed to participate unless a permission form is filled out and signed by a parent or guardian. A helmet is required, knee pads, elbow pads and wristguards are strongly recommended. There will be one county recreation and one city recreation department employee on site during the hours of operation. The area is fenced (with a portable fence) for the safety of the participants. I have attached a copy of the registration form so you are aware of the conditions and precautions that the county has set forth. I will be present at the council meeting to answer any questions that you may have. CITY OF CAPE CANAVERAL, FLORIDA APPLICATION FOR SPECIAL OUTDOOR ENTERTALN-IVIDNT PERINIIT Permit.No. Date: The applicant or representative agrees to be on site at all times empowered with authority over all aspects of the event and empowered to act for the applicant. Name of Applicant: Jack Ma-,gnn Title: Assistant Department Director Firm: Brevard County Parks and Recreation Department -- W, re 2725 Judge Fran Jamieson Way Bldg. B Suite 203 Viera, FL 32940 Telephone: ( 321) 633 - 2046 FAX: ( 321_) 633 - 2196 Local Contact: Nancy Hanson Title: Recreation Directo Local Address (if different from above Type of Event: Traveling Skate Park EventDate(s) in Cape Canaveral: October 4th - 7th Location(s): Date(s) Time Municipal Parking Lot October 4th 3:oopm - 7:00pm :50Utll Of City a nex October 5th 3:oopm - 7.00pm October 6th 10:00am - 7:00pm October 7th 1:00pm - 7:00pm Attach map(s) indicating event area and designated parking areas. CTraffic Control ❑Street Closing ❑Other Specify: OUse of Police/Fire Rescue Equipment OVehicles/Equipment on Beach OVehicle Parlang on City Property By signing this application, the applicant acknowledges and agrees to the following provisions: I. INSURANCE A written public liability insurance policy insuring the person staging, promoting or conducting the outdoor entertainment event against any and all claims and demands made by any person for injuries received in connection with the staging, promoting, conducting or attendance of or at the outdoor entertainment event, written within limits of not less than $300,000.0Q daviage or injury to any one person for bodily injury or otherwise, plus $25,000.00 damage to property, and for not less than $500,000.00 for damages incurred or claimed by more than one person for bodily injury or otherwise, plus $50,000.00 for damages to property. The original or duplicate of such policy shall be attached to the application for a special outdoor entertainment permit, together with adequate evidence that the premiums are paid. Name of Insurance Co: North River Insurance Policy No: 544 _ 0000422 Expiration Date: 10/01/03 II. PROMOTIONAL AUTHORIZATION Permittee authorizes the City of Cape Canaveral to utilize Permittee's name and project for public relation purposes and other media related purposes. III. EXPENSES/FEES The applicant agrees to pay the City, in advance, for any services provided by the City at the City's usual rates and any other permit fees that may be applicable to the particular production as required by the City of Cape Canaveral. IV. EXEMPTIONS Non-profit organizations may seek a waiver of any of the outdoor entertainment code requirements if the sections waived dealing with the health, safety and welfare of those in attendance, as well as the general public, have been otherwise provided for as required by said code. List any exemptions you are seeking. Any and all permit fees Jack Masson Applicant or Repr Approved by City of C'* Canaveral: City Representative's Name: Title: Signature: Date 9/12/01 Applicants shall keep a copy of this approved permit and attachments on the day of the event within the City of Cape Canaveral. For further information, please contact: City of Cape Canaveral Bennett C. Boucher, City Manager 105 Polk Avenue Cape Canaveral, FL 32920 Phone: (407) 868-1230 Fax: (407) 799-3170 #'f>rr�.. NORTH RIVER INSURANCE CO. CERTIFICATE OF INSURANCE DATE ISSUED: 8/28/01 PRODUCER This certificate is issued as a matter of information only and confers no rights upon Arthur J. Gallagher & Co the certificate holder. This certificate DOESNOT amend, extend or alter the coverage 2255 Glades Road afforded by the policies below. Suite 400 E. Boca Raton, FL 33431 COMPANIES AFFORDING COVERAGE COMPANY (A) NORTH RIVER INSURANCE COMPANY INSURED COMPANY (B) Brevard County Board of County Commissioners COMPANY (C) 2725 Judge Fran Jamieson Way Viera, FL 32940 COMPANY (D) COVERAGES This is to certify that the policies of Insurance listed below have been issued to the insured named above for the policy period indicated, notwithstanding any requirement, term or condition of any contract or other document with respect to which this certificate may be issued or may pertain, the Insurance afforded by the policies described herein is subject to all the terms, exclusions and conditions of such policies. Limits shown may have been reduced by paid claims. ................. CO TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE POLICY EXPIRATION LIMITS LTR DATE MM/DD DATE MM/DD GENERAL LIABILITY A O COMMERCIAL GENERAL LIABILITY SEE BELOW SEE BELOW SEE BELOW GENERAL AGGREGATE SEE BELOW ❑ CLAIMS MADE [M OCCUR. PRODUCTS-COMP/OP AGG ❑ OWNER'S & CONTRACTOR'S PROT EACH OCCURRENCE FIRE DAMAGE (any one fire) MED. EXPENSE (any one person) AUTOMOBILE LIABILITY A 0 ANY AUTO SEE BELOW SEE BELOW SEE BELOW COMBINED SINGLE LIMIT SEE BELOW ❑ ALL OWNED AUTOS BODILY INJURY Ic+ o«sa l ❑ SCHEDULED AUTOS BODILY INJURY ❑ HIRED AUTOS PROPERTY DAMAGE ❑ NON -OWNED AUTOS ❑ GARAGE LIABILITY EXCESS LIABILITY A ❑ UMBRELLA FORM EACH OCCURRENCE 81,000,000. $5,000,000. O OTHER THAN UMBRELLA FORM 544.000042-8 9/1/00 10/01/03 AGGREGATE WORKERS' COMPENSATION STATUTORY LIMITS Statutory AND EMPLOYERS' LIABILITY EACH ACCIDENT DISEASE -POLICE LIMIT DISEAS_E-EACH EMPLOYEE _ _ XXXX —POLICY SUBJECT TO SIR A.� per General Endorsement FM GEN Od2. DESCRIPTION OF OPERATIONS/LOCATIONSNEHICLESISPECIAL ITEMS — All operations usual to a County Government including Cape Canaveral Parks and Recreation as additional insured as respects Traveling Skate Park Days on October 4" — October 7". All other terms and conditions of policy remain unchanged. ....................................................................................................................................................................................................................................................................................................................................................................................... CERTIFICATE HOLDER Should any of the above described policies be cancelled before the expiration date thereof, the issuing company will endeavor to mail 90 days written notice to Cape Canaveral Parks and the certificate holder named to the left, but failure to mail such notice shall impose no obligation or liability of any kind upon the company, its agents or Recreation representatives. 7300 N. Atlantic Avenue Cape Canaveral, FL 3292.0 Authorized signature: Sandra M. Dona RANGER INSURANCE MANAGERS e r tom. CapeCanaveral Parks and Recreation On AIA, go 2 -miles north of SR 520 and tum right on Taylor Avenue The Skate Park will be in the parking lot near Cape Canaveral's Parks and Recreation Building. SR 520 October e - October 7"', 2001 Thursday, October 4'h Friday, October 51 Saturday, October 6 Sunday, October 7t int Sign 1 Session 1 S ssion 1 — 7:00pm 3:OOpm — 7:00pm 10:00pm — 2:30pm 1:00pm — 4:00pm Soa3;OOpm int Session t 2:30pm — 7:00pm 4:00pm — 7:00pm lllf tA5f'C free Envirol+1�e11t �ch+�9 W/ t,6cco �n rwle Si���e_ T Shr� r� 1� 10 COST: $2.00 per 3 or 4 -Hour Session No Prorates REQUIREMENTS TO SKATE: • Skaters MUST wear a helmet to skate. Knee pads, elbow pads, and wristguards are STRONGLY recommended. • Skaters 17 & Under MUST have permission form signed by a PARENT or legal guardian to skate. • Skaters 18 & over MUST have a permission form and PHOTO ID. • Forms are available at the Skate Paris each day OR can be downloaded from the following web site: www.SpaceCoastTEEns.com NOTE: After park capacity has been reached (approx. 40), Inliners & Boarders will alternate with Scooters IF there are enough scooters to warrant alternating (Inliners/Boarders skate for Y2 hour, Scooters for 15 minutes, throughout a 4 -hour session, only as needed). This event is a Smoke -Free Environment Parka 6 Recreation BREVARD COIi,`!TY 617-592 or 633-2046 k�QBVa�� p � r G . �J1 '�LbRtC�% 15WATI:*] TAFF USE ONLY %RENT CALLED (write in name of parent you spoke with): ME: Staff Person's Name: tTE: October F-1 ,2001 Cape Canaveral Parks and Recreation ; ` BREVARD COUNTY TRAVELING SKATE PARK rks , . swr at Skate Registration Form Skateboard & Inline Skate Activities REQUIREMENTS: • ALL Skaters MUST wear a helmet to skate, irregardless of age. Knee pads, elbow pads, and wristguards are strongly recommended. • Bring your own equipment. • Skaters 17 and under MUST have BOTH SIDES of this registration form signed by a PARENT or legal guardian to skate. • Skaters 18 and older must have a PHOTO ID AND SIGN BOTH SIDES of this form to skate. COST: $2.00 Per 3 or 4 Hour Session. NO PRORATES. FOR MORE INFORMATION: CALL 633-2046 M-F 9am-5pm or EMAIL Igotcher@spacecoastteens.com Participant Name Home Phone Street Address City, State ZIP Age Sex Date of Birth Grade School Check ID if over 18 Emergency Contact Person Emergency Contact Number Media ❑ 1 hereby give permission for the release of photographs of myself OR my child ❑ I DO NOT give permission for the release of photographs of myself OR my child. Release PLEASE READ CAREFULLY BEFORE SIGNING!! ALL PARTICIPANTS AGE 17 and Under MUST HAVE PARENT/LEGAL GUARDIAN PERMISSION 1) Having been informed of the activity to provide the above supervised activities I, the parent or legal guardian, of the participant named above, do hereby give my approval of his/her participation in these activities. I assume all risks and hazards incidental to the conduct of this activity; and, I do further hereby release, absolve, indemnify and hold harmless the organizers, sponsors and persons involved in running this event, any and all of them. In case of injury to my son/daughter, I hereby waive all claims against the organizers, the sponsors, or any of the supervisors appointed by them. 2) Emergency Medical Release: If emergency medical care is deemed necessary and I or any other parent/guardian on list above cannot be contacted, I grant permission for my child to receive emergency medical treatment by the proper authorities. Insurance Parent/Guardian Signature Date Print Name SKATERS & PARENTSI MUST FILL OUT BACK SIDE OF FORMII TAFF USE ONLY %RENT CALLED (write in name of parent you spoke with): ME: Staff Person's Name: PARTICIPANT AGREEMENT, RELEASE, AND ACKNOIMFDGEMENT OF RISK FOR BREVARD COUNTY TRAVEUNG SKATE PARK SKATEBOARD,INLINE SKATE, B SCOOTER ACTIVITIES consideration of the services of Brevard County Parks and Recreation Department, their agents, owners, officers, volunteers, irticipants, employees, and all other persons or entities acting in any capacity on their behalf (hereinafter collectively referred to > "BCPBR"), I hereby agree to release, indemnify, and discharge BCPBR, on behalf of myself, my children, my parents, my airs, assigns, personal representative and estate as follows: I acknowledge that skateboarding, inline skating, and riding scooters entails known and unanticipated risks which could result in physical or emotional injury, paralysis, death, or damage to myself, to property, or to thins parties. 1 understand that such risks simply cannot be eliminated without jeopardizing the essential qualities of the activity. The risks include, among other things: Collision with other boarders or infiners, the walls other fixed objects; falling down; my Own equipment failure or the failure of other's equipment; my own or others negligence; and objects or conditions on the boarding surface that may cause me to fall; broken bones, sprains, head and back injuries, abrasions, and bruises. Furthermore, BCPBR employees have difficult jobs to perform. They seek safety, but they are not infallible. They might be unaware of a participant's fitness or abilities. They may give inadequate warnings or instructions, and the equipment being used might malfunction. I expressly agree and promise to accept and assume all of the risks existing in this activity. My participation in this activity is purely voluntary, and 1 elect to participate in spite of the risks. 1 hereby voluntarily release, forever discharge, and agree to indemnify and hold harmless BCPBR from any and all Claims, demands, or causes of action, which are in any way connected with my participation in this activity or my use of BCPBR's equipment or facilities, including any such Claims which allege negligent ads or omissions of BCPBR. Should BCPBR or anyone acting on their behalf, be required to incur attorney's fees and costs to enforce this agreement, I agree to indemnify and hold them harmless for all such fees and costs. I certify that I have adequate insurance to cover any injury or damage I may cause or suffer while participating, or else I agree to bear the costs of such injury or damage myself. I further certify that I have no medical or physical conditions which could interfere with my safety in this activity, or else I am willing to assume — and bear the costs of — all risks that may be created, directly or indirectly, by any such condition. In the event that t file a lawsuit against BCPBR,I agree to do so solely in the state of Florida, and 1 further agree that the substantive law of that state shall apply in that action without regard to the conflict of law rules of that state. agree that If any portion of this agreement is found to be void or unenforceable, the remaining portions shall remain in full force nd effect. ly signing this document, i acknowledge that if anyone is hurt or property is damaged during my participation in this activity, I gay be found by a court of law to have waived my right to maintain a lawsuit against BCPBR on the basis of any claim from which have released them herein. have had sufficient opportunity to read this entire document. I have read and understood it, and I agree to be bound by its terns. katers 18 or older must complete this rection ,ignature of Participant: Date: Idnt Name: Phone: address: City. PARENT'S OR GUARDIAN'S ADDITIONAL INDEMNIFICATION (Must be completed for participants under the age of 1 a) Zip n consideration of (print minor's name) ("Minor') being permitted by BCPBR to participate n its activities and to use its equipment and facilities, I further agree to indemnify and hold harmless BCPBR from any arrd all ;laims which are brought by, or on behalf of Minor, and which are in any way connected with such use or participation by Minor. )arent or Guardian Signature: Relationship to Minor. )rint Name: Date: Meeting Type: Regular Meeting Date: 09-18-01 AGENDA Heading Resolutions [tem 6 No. Exhibits Attached: AGENDA REPORT CITY COUNCIL OF THE CITY OF CAPE CANAVERAL SUBJECT: RESOLUTION 2001-24, ESTABLISHING AN INVESTMENT POLICY DEPT./DIVISION: FINANCE/ADMINISTRATION Requested Action: City Council consider approval of this resolution setting forth an investment policy for city funds as required by Florida Statutes. Summary Explanation & Background: This resolution establishes a city investment policy that is required under Florida Statutes. I recommend approval. Exhibits Attached: Resolution No. 2001-24; F.S. 218.415 City ager s Office Department FINANCE/ADMINISTRATION cumuryuucun tsray��cauncuvneeting\tuu t tuy-is-ut\2eut-24.tloe RESOLUTION NO. 2001-24 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAPE CANAVERAL, BREVARD COUNTY, FLORIDA, ESTABLISHING POLICIES FOR THE CITY FUNDS TO BE INVESTED; PROVIDING A CUSTODIAN OF FUNDS; PROVIDING FOR THE SELECTION OF INVESTMENTS; AUTHORIZING FOR THE TRANSFER OF FUNDS; PROVIDING FOR REPORTING OF INVESTMENTS HELD; PROVIDING FOR PRORATION OF EARNINGS AND CHANGES IN VALUE; PROVIDING FOR THE EXCLUSION OF RETIREMENT PLAN; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Cape Canaveral declares its intent to establish a policy for surplus City Funds, as defined in Florida Statutes section 218.403(3), to be invested to provide: WHEREAS, SAFETY OF CAPITAL which is the foremost objective of the investment program. Investments of the City of Cape Canaveral shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. WHEREAS, LIQUIDITY of funds sufficient to enable the City to meet all operating requirements which might be reasonably anticipated, and WHEREAS, INVESTMENT INCOME at a rate of return throughout budgetary and economic cycles, commensurate with the investment risk constraints and the cash flow characteristics of the portfolio. BE IT RESOLVED by the City Council of the City of Cape Canaveral, Brevard County, Florida, as follows: These objectives shall be held in the order of importance, as listed above, as authorized in Florida Statutes section 218.415. These invested funds are accounted for in the City's Comprehensive Annual Financial Report and are reflected in the following funds: General Fund, Special Revenue Funds, Capital Expansion Fund, and Enterprise Fund. THE PRUDENT PERSON RULE: "Investments shall be made with judgement and care — under circumstances then prevailing — which persons of prudent discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, while considering the probable safety of their capital as well as the probable income to be delivered from the investment." The City Treasurer and the City Manager shall be charged with the responsibility of supervising all administrative matters relating to this Policy and shall establish a written system of internal controls and operating procedures to be followed in the administration of these funds. No person may engage in an investment transaction except as provided under the terms of this policy and the procedures established by the City Treasurer and the City Manager. Internal controls shall be designed to prevent the loss of funds by fraud, employee error, misrepresentations by third parties, or imprudent actions by City employees. The required annual financial audit shall include a review of such internal controls. The standard of prudence to be used by the City Treasurer and the City Manager or their designee shall be the "prudent person" standard and shall be applied in the context of managing an overall portfolio. The City Treasurer and the City Manager, acting in accordance with written procedures and the investment policy and exercising due diligence, shall be relieved of personal responsibility for individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion and appropriate action is taken to control adverse developments. Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions. Employees and investment officials, including the City Treasurer and City Manager shall disclose to the City Clerk any material financial interests in financial institutions that conduct business within this jurisdiction, and they shall further disclose any large personal financial/investment positions that could be related to the performance of the City of Cape Canaveral, particularly with regard to the time of purchases and sales of investments. The City Treasurer and/or any other persons designated to initiate investment activities shall annually complete (8) hours of continuing education in subjects or courses of study related to investment practices and products. The City of Cape Canaveral is empowered by statute to invest in the following instruments, and may divest itself of such investments, at prevailing market prices or rates subject to the limitations of Section 218.415: The Local Government Surplus Funds Trust Fund (State Board of Administration — SBA) Securities and Exchange Commission registered money market funds with the highest credit quality rating (AAA/AA) from a nationally recognized rating agency Interest-bearing time deposits or savings accounts in qualified public depositories as defined in Florida Statutes section 280.02 Certificates of Deposit and Repurchase Agreements in state -certified qualified public depositories, as defined in Florida Statutes section 280.02 Direct obligations of the U.S. Treasury Federal agencies and instrumentality's The transfer of funds for investments by Federal Reserve Wire System or by check is hereby authorized. The city Treasurer shall submit a monthly report on investment activity to the City Council and City Manager and shall immediately notify the City Manager of any deviations from currently approved investment policies. Changes in value of investments shall be market -to -market in accordance with Generally Accepted Accounting Principles and recorded on a monthly basis. Investment earnings and changes in the value of securities shall be allocated based on the amounts contributed by each fund. This Resolution shall in no way affect pension funds that are administered by separate resolution or bond funds where there are other existing policies or indentures in effect. This Resolution shall take effect immediately upon adoption. ADOPTED BY the City Council of the City of Cape Canaveral, Florida, this 18th day of September , 2001. ATTEST: Rocky Randels, MAYOR Name Yes No Burt Bruns Richard Treverton Susan Stills, CITY CLERK Buzz Petsos Larry Weber Approved as to Form: Rocky Randels Kohn Bennett, CITY ATTORNEY statutes ->View Statutes->2001->Ch0218->Section 415: Online Sunshine Page 1 df 3 SOnline Labb unshine We{come Session Committees Legislators is{mfilet aii ,Center. ' � � , .Information View Statutes Search Statutes Constitution Laws of F','orida Order Select Year: 12001 ­ Gp The 2001 Florida Statutes Title XIV Chapter 218 View Entire Chapter Taxation And Finance Financial Matters Pertaining To Political Subdivisions 218.415 Local government investment policies. --Investment activity by a unit of local government must be consistent with a written investment plan adopted by the governing body, or in the absence of the existence of a governing body, the respective principal officer of the unit of local government and maintained by the unit of local government or, in the alternative, such activity must be conducted in accordance with subsection (17). Any such unit of local government shall have an investment policy for any public funds in excess of the amounts needed to meet current expenses as provided in subsections (1)-(16), or shall meet the alternative investment guidelines contained in subsection (17). Such policies shall be structured to place the highest priority on the safety of principal and liquidity of funds. The optimization of investment returns shall be secondary to the requirements for safety and liquidity. Each unit of local government shall adopt policies that are commensurate with the nature and size of the public funds within its custody. (1) SCOPE. --The investment policy shall apply to funds under the control of the unit of local government in excess of those required to meet current expenses. The investment policy shall not apply to pension funds, including those funds in chapters 175 and 185, or funds related to the issuance of debt where there are other existing policies or indentures in effect for such funds. (2) INVESTMENT OBJECTIVES. --The investment policy shall describe the investment objectives of the unit of local government. Investment objectives shall include safety of capital, liquidity of funds, and investment income, in that order. (3) PERFORMANCE MEASUREMENT. --The investment policy shall specify performance measures as are appropriate for the nature and size of the public funds within the custody of the unit of local government. (4) PRUDENCE AND ETHICAL STANDARDS. --The investment policy shall describe the level of prudence and ethical standards to be followed by the unit of local government in carrying out its investment activities with respect to funds described in this section. The unit of local government shall adopt the Prudent Person Rule, which states that: "Investments should be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived from the investment." (5) LISTING OF AUTHORIZED INVESTMENTS. --The investment policy shall list investments authorized by the governing body of the unit of local government, subject to the provisions of subsection (16). Investments not listed in the investment policy are prohibited. If the policy authorizes investments in derivative products, the policy must require that the unit of local government's officials responsible for making investment decisions or chief financial officer have developed sufficient understanding of the derivative products and have the expertise to manage them. For purposes of this subsection, a "derivative" is defined as a financial instrument the value of which depends on, or is derived from, the value of one or more underlying assets or index or asset values. If the policy authorizes investments in reverse repurchase agreements or other forms of leverage, the policy must limit the investments to transactions in which the proceeds are intended to provide liquidity and for which the unit of local government has sufficient resources and expertise. (6) MATURITY AND LIQUIDITY REQUIREMENTS. --The investment policy shall require that the investment portfolio is structured in such manner as to provide sufficient liquidity to pay obligations as they come due. To that end, the investment policy should direct that, to the extent possible, an attempt will be made to match investment maturities with known cash needs and anticipated cash-flow requirements. (7) PORTFOLIO COMPOSITION. --The investment policy shall establish guidelines for investments and limits on security issues, issuers, and maturities. Such guidelines shall be commensurate with the nature and size of the public funds within the custody of the unit of local government. (8) RISK AND DIVERSIFICATION. --The investment policy shall provide for appropriate diversification of the investment portfolio. Investments held should be diversified to the extent practicable to control the risk of loss resulting from overconcentration of assets in a specific maturity, issuer, instrument, dealer, or bank through which financial instruments are bought and sold. Diversification strategies within the established guidelines shall be reviewed and revised periodically, as deemed necessary by the appropriate management staff. (9) AUTHORIZED INVESTMENT INSTITUTIONS AND DEALERS. --The investment policy should specify the authorized securities dealers, issuers, and banks from whom the unit of local government may purchase securities. http://www.leg.state. flus/statutes/index.cfm?App_mode=Display_Statute&Search_String... 09/12/2001 statutes ->View Statutes->2001->Ch0218->Section 415: Online Sunshine Page 2 Of 3 (10) THIRD -PARTY CUSTODIAL AGREEMENTS. --The investment policy shall provide appropriate arrangements for the holding of assets of the unit of local government. Securities should be held with a third party; and all securities purchased by, and all collateral obtained by, the unit of local government should be properly designated as an asset of the unit of local government. No withdrawal of securities, In whole or in part, shall be made from safekeeping, except by an authorized staff member of the unit of local government. Securities transactions between a broker-dealer and the custodian involving purchase or sale of securities by transfer of money or securities must be made on a "delivery vs. payment" basis, if applicable, to ensure that the custodian will have the security or money, as appropriate, in hand at the conclusion of the transaction. (11) MASTER REPURCHASE AGREEMENT. --The investment policy shall require all approved institutions and dealers transacting repurchase agreements to execute and perform as stated in the Master Repurchase Agreement. All repurchase agreement transactions shall adhere to the requirements of the Master Repurchase Agreement. (12) BID REQUIREMENT. --The investment policy shall require that the unit of local government's staff determine the approximate maturity date based on cash-flow needs and market conditions, analyze and select one or more optimal types of investment, and competitively bid the security in question when feasible and appropriate. Except as otherwise required by law, the bid deemed to best meet the investment objectives specified in subsection (2) must be selected. (13) INTERNAL CONTROLS. --The investment policy shall provide for a system of internal controls and operational procedures. The unit of local government's officials responsible for making investment decisions or chief financial officer shall establish a system of internal controls which shall be in writing and made a part of the governmental entity's operational procedures. The investment policy shall provide for review of such controls by independent auditors as part of any financial audit periodically required of the unit of local government. The internal controls should be designed to prevent losses of funds which might arise from fraud, employee error, misrepresentation by third parties, or imprudent actions by employees of the unit of local government. (14) CONTINUING EDUCATION. --The investment policy shall provide for the continuing education of the unit of local government's officials responsible for making investment decisions or chief financial officer. Such officials must annually complete 8 hours of continuing education in subjects or courses of study related to investment practices and products. (15) REPORTING. --The investment policy shall provide for appropriate annual or more frequent reporting of investment activities. To that end, the governmental entity's officials responsible for making investment decisions or chief financial officer shall prepare periodic reports for submission to the legislative and governing body of the unit of local government, which shall include securities in the portfolio by class or type, book value, income earned, and market value as of the report date. Such reports shall be available to the public. (16) AUTHORIZED INVESTMENTS; WRITTEN INVESTMENT POLICIES. --Those units of local govemment electing to adopt a written investment policy as provided in subsections (1)-(15) may by resolution invest and reinvest any surplus public funds in their control or possession in: (a) The Local Government Surplus Funds Trust Fund or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act as provided in s. 163,UU. (b) Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency. (c) Interest-bearing time deposits or savings accounts in qualified public depositories as defined in s. 280.02 (d) Direct obligations of the United States Treasury (e) Federal agencies and instrumentalities. (f) Securities of, or other interests in, any open-end or closed-end management -type Investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. ss. 80a-1 et seq., as amended from time to time, provided that the portfolio of such Investment company or investment trust is limited to obligations of the United States Government or any agency or instrumentality thereof and to repurchase agreements fully collateralized by such United States Government obligations, and provided that such investment company or investment trust takes delivery of such collateral either directly or through an authorized custodian. (g) Other investments authorized by law or by ordinance for a county or a municipality. (h) Other investments authorized by law or by resolution for a school district or a special district. (17) AUTHORIZED INVESTMENTS; NO WRITTEN INVESTMENT POLICY. --Those units of local government electing not to adopt a written investment policy in accordance with investment policies developed as provided in subsections (i)-(15) may invest or reinvest any surplus public funds in their control or possession in: (a) The Local Government Surplus Funds Trust Fund, or any Intergovernmental investment pool authorized pursuant to statutes ->View Statutes->2001->Ch0218->Section 415: Online Sunshine Page 3 of 3 the Florida Interlocal Cooperation Act, as provided in s. 163.01. (b) Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency. (c) Interest-bearing time deposits or savings accounts in qualified public depositories, as defined in s. 280.02. (d) Direct obligations of the U.S. Treasury. The securities listed in paragraphs (c) and (d) shall be invested to provide sufficient liquidity to pay obligations as they come due. (18) SECURITIES; DISPOSITION. -- (a) Every security purchased under this section on behalf of the governing body of a unit of local government must be property earmarked and: 1. If registered with the issuer or its agents, must be immediately placed for safekeeping in a location that protects the governing body's interest in the security; 2. If in book entry form, must be held for the credit of the governing body by a depository chartered by the Federal Government, the state, or any other state or territory of the United States which has a branch or principal place of business in this state as defined in s. 658.12, or by a national association organized and existing under the laws of the United States which is authorized to accept and execute trusts and which is doing business in this state, and must be kept by the depository in an account separate and apart from the assets of the financial institution; or 3. If physically issued to the holder but not registered with the issuer or Its agents, must be immediately placed for safekeeping in a secured vault. (b) The unit of local government's governing body may also receive bank trust receipts in return for investment of surplus funds in securities. Any trust receipts received must enumerate the various securities held, together with the specific number of each security held. The actual securities on which the trust receipts are issued may be held by any bank depository chartered by the Federal Government, this state, or any other state or territory of the United States which has a branch or principal place of business in this state as defined in s. 658.12, or by a national association organized and existing under the laws of the United States which is authorized to accept and execute trusts and which is doing business in this state. (19) SALE OF SECURITIES. --When the invested funds are needed in whole or in part for the purposes originally intended or for more optimal investments, the unit of local government's governing body may sell such investments at the then - prevailing market price and place the proceeds into the proper account or fund of the unit of local government. (20) PREEXISTING CONTRACT. --Any public funds subject to a contract or agreement existing on October 1, 2000, may not be invested contrary to such contract or agreement. (21) PREEMPTION. --Any provision of any special act, municipal charter, or other law which prohibits or restricts a local governmental entity from complying with this section or any rules adopted under this section is void to the extent of the conflict. (22) AUDITS. --Certified public accountants conducting audits of units of local government pursuant to s. 218.39 shall report, as part of the audit, whether or not the unit of local government has complied with this section. History. --s. 1, ch. 95-194; s. 2, ch. 97-9; s. 3, ch. 2000-264; ss. 66, 141, ch. 2001-266. Welcome . Se;Uion . Committees • Legislators • Infqrmation Center . Statutes and Constitution • Lobbyist Information Disclaimer: The information on this system is unverified. The journals or printed bills of the respective chambers should be consulted for official Purposes. Copyright ® 2000-2001 State of Florida. Contact u Privacy Statement Meeting Type: Regular Meeting Date: 09-18-01 AGENDA Heading Resolutions Item 7 No. The City provides a defined contribution pension plan for the employees and contributes 7% of the employees AGENDA REPORT CITY COUNCIL OF THE CITY OF CAPE CANAVERAL SUBJECT: RESOLUTION NO. 01-27, ESTABLISHING A DEFINED CONTRIBUTION PENSION PLAN DEPT./DIVISION: ADMINISTRATION Requested Action: City Council consider adoption of this resolution adopting the new Florida League of Cities Defined Contribution Pension Plan for our employees. Mrs. Jeannie Hagen, Florida League of Cities, will present an overview of this new plan and answer any questions you all may have. Summary Explanation & Background: The City provides a defined contribution pension plan for the employees and contributes 7% of the employees base wages. The vesting schedule is reduced from 10 to 5 years. Employees will now be able to self direct the investment of their funds with advice from a certified financial planner that is part of Citistreet Program. I recommend approval. Exhibits Attached: Resolution No. 01-27; Trust Joinder Agreement; Adoption Agreement; Plan Document; League correspondence; City Attorney opinion CityMan 's Office , ., Department ADMINISTRATION t ca ncil\meeting\2001\09-18-01\01-27.doc FMPTF PENSION SERVICES Florida Municipal Pension Trust Fund The Florida League of Cities Announces the new Florida Municipal Pension Trust Fund's Defined Contribution and Deferred Compensation Program We are pleased to announce that the Florida League of Cities has partnezred with Citistreet, the Nation's second largest defined contribution provider to restructure the defined contribution services provided by the Florida Municipal Pension Trust Fund (FMPTF) and to offer a deferred compensation program. In response to the membership of the FMPTF, the League has researched options available to defined contribution plans. The goal was to increase investment flexibility, provide state of the art recordkeeping services, improve turnaround time, and update plan documents, all at an affordable cost. Due to the economies of scale provided by the membership of the FMPTF and the Florida League of Cities, we were able to establish a program that will be available to all cities from the smallest to the largest, which we believe will be the most comprehensive and competitively priced program available on a state-wide basis. THE PROGRAM CitiStreet is the Nation's second largest defined contribution provider, next to Fidelity. Citistreet just won the Florida Retirement System (FRS) contract to provide the record-keeping services for the new state Defined Contribution Plan. This innovative, new program will offer a full range of competitive investment choices, simplified technology, advanced administration, multiple tools and services for employees, communications and education targeted to each employee. Citistreet was chosen as a partner because of the following: ✓ Competitive pricing ✓ Commitment to onsite field representation ✓ Broad and competitive investment options ✓ Subsidiary of CitiCorp and State Street, two major players in the financial and investment arena ✓ Similar types of service manager arrangements with other public pension funds, including the FRS. Florida League of Cities, Inc., 301 S. Bronough Street, P.O. Box 1757, Tallahassee, FL UaUz (850) 222-9684 Fax (850) 488-0132 FMPTF Announcement May 25, 2001 Page 2 FEES Good News! The administration fees for your plan should be significantly reduced and simplified. The fees will be charged in two components: Administration Fee and Investment Expenses. The Administration Fee will be a flat 30 basis points of assets charged quarterly, deducted directly from the assets of the plan. The Investment Expenses will vary based on the selection of Mutual Funds. All investment expenses of the funds are disclosed in the prospectus of each fund. We will be providing fee comparisons for your plans in the upcoming weeks. INVESTMENT OPTIONS The new program will offer participant directed investments among a well -diversified selection of mutual funds. The investment options will be selected based on investment guidelines and criteria which stress performance, fund history, fund expenses and fund asset size. We are working with the Florida League of Cities' Investment Advisory Committee and the FMPTF Board of Trustees to put together a fund selection that will provide a diversified selection of well-known mutual funds. SER VICES The Program is designed to offer State -of -the -Art recordkeeping services. We have created easy access to your plan by the employer and the participants. And have made it easy to obtain information through a variety of sources: • VoiceCONNECT — Voice Response Unit 800# for current account information, transfers and updated fund information. 24 hours a day 365 days a year. • Web Site — With a Personal Identification Number • HELPLINE — Counselors available on weekdays from 8:00 am to 6:00 pm todirectly assist participants with their Plan Account. They can help with: o Plan Account balances o Investment fund share prices o Complete fund transfers of existing Plan amounts o Complete investment allocation changes for future contributions o Obtain current contribution amounts CONVERSION OF CURRENT FMPTF MEMBERS All current FMPTF Defined Contribution Plans will begin to make contributions to the new program starting 10/01/2001. The balances in your current plan will be transferred once the account allocations for the plan year FMPTF Announcement May 25, 2001 Page 3 10/01/2000 — 09/30/2001 are completed. If your plan has employee contributions, a deferred compensation plan can be established, with the same investment options and consolidated participant statements, to allow voluntary contributions on a pre-tax basis. A restated simplified Defined Contribution Adoption Agreement and Plan Document will be provided for execution. The Plan Document will be restated to conform with current Internal Revenue Code requirements and will be administratively simplified. All members of the FMPTF will be contacted within the next few weeks to discuss the conversion of current defined contribution plans. To join the program you need to (1) adopt a resolution, (2) execute a revised adoption agreement and plan document, and to (3) schedule employer and employee meetings. We are very pleased to be offering this revolutionary new approach designed to combine drastically new and improved products and services with much lower costs! Look for additional information in the near future. In the meantime to learn more about the new Defined Contribution and Deferred Compensation Program, please call 800-616-1513 ext. 276, vmail, Mark Sittig, Retirement Programs Manager, Florida League of Cities, or email: msittigPflcities.com. Florida Municipal Pension Trust Fund Fee Schedule Effective 1010112001 DEFINED BENEFIT ADMINISTRATION *Actuarial costs will vary based on options considered, number of participants and plan complexity. Actuarial Valuations Actuarial Cost Studies Actuarial Impact Statements Annual Administration Installation of new plan SPECIAL NOTE: From $1,800 to $3,750* From $400 to $800 From $1,000 to $1,500* $800 Average Cost $1,000 Average Cost An Actuarial Cost Study is performed when the employer is considering an amendment to the plan, but is not sure if they will approve the change. Most of the time a cost study contains several options for comparison. The Cost Study shows the change in the cost of the plan. An Actuarial Impact Study is performed once the amendment has been approved. This study is required for filing with the Division of Retirement. The Impact Study is a more comprehensive Actuarial Report containing various actuarial assumptions and supporting data. DEFINED CONTRIBUTION & DEFERRED COMPENSATION PROGRAM Applies to participant balances in the new FLC/Citistreet Program New Plan Set -Up (per employer) Deferred Compensation Program Defined Contribution Program $ 625.00 30 basis points of assets ___.r.6arged quarterly 30 basis points of assets charged quarterly Valuations for Defined Contribution Plans processed outside of the FLC/Citistreet Program will be billed based on supplemental fee schedule (see administrator). CUSTODIAL, INVESTMENT MANAGEMENT AND INVESTED RELATED SERVICES street Program Contribution & Compensation Plans) Defined Benefit Plans 8 Other FMPTF Assets (Invested throught the Florida Municipal Investment Trust (FMIvT)) Investment Fees will be charged by the Mutual Funds and will vary based on Fund Choice. Actual fees of FMIvT. Estimated at 47.50 basis points. Fees will be deducted from investment income and be referred to as "net of fees". There will be an additional annual 15 basis points account maintenance fee. Total Investment Management Fees approximately 62.50 basis points. MISCELLANEOUS SERVICES Miscellaneous charges for plan amendments. IRS Qualification assistance. Termination of existing plans _egal Services and other charges will be a direct expense. The price will be mutually agreed upon by both )arties before commencement of the work product. All fees will include a minimal amount to provide for easonable and necessary expenses of the FMPTF. i LAW OFFICES AMARI & THERIAC, P.A. Attorneys and Counselors At Law Richard S. Amari Kohn Bennett Bradly Roger Bettin, Sr. Mitchell S. Goldman J. Wesley Howze David R. Martin Matthew J. Monaghan Mark N. McQuagge Mark S. Peters David M. Presnick Charles R. Steinberg James S. Theriac, III Of Counsel: Mary E. Lytle, P.A. Mr. Bennett Boucher, City Manager City of Cape Canaveral P.O. Box 326 Cape Canaveral, FL 32920 Reply to: Cocoa Post Office Box September 4, 2001 RE: CONTRIBUTION PLAN AND TRUST JOINDER AGREEMENT Dear Bennett: Mariner Square 96 Willard Street, Suite 302 Post Office Box 1807 Cocoa, Florida 329?3-1807 Telephone (321) 639-1320 Fax (321) 639-6690 Imperial Plaza Suite B104 6769 N. Wickham Road Melbourne, Florida 32940 Telephone (321) 2�9-6611 Fax (321) 2�9-6624 Please allow this letter to serve as a response to your request for review of the proposed resolution related to the execution of the Trust Joinder Agreement and corresponding plan. To that request, review was to be performed with regard to a modification of the documents to allow for the resolution itself to be passed and one attachment, which would contain both the Trust Joinder Agreement and the Adoption Agreement. Following a review of the resolution and the above - referenced attachment, along with a telephone conference with Andrea Bowers of the City's Finance Department, the proposed resolution and attachment appear to be in the most clear and succinct form possible. The way I read same is that the City Council, by adoption of the resolution, also then adopts the Trust Joinder Agreement (Exhibit 1) and the plan itself (Exhibit 2). Therefore, it is my opinion that the matter be put before the City Council as is for consideration rather than attempting modifications which may result in making the matter more confusing than it may already be. Please advise should you desire any more consideration of this matter or whether you wish to discuss same. Sincerely, Mark McQuagge MM:mem RESOLUTION NO. 01-27 A RESOLUTION OF THE CITY OF CAPE CANAVERAL, BREVARD COUNTY, FLORIDA ESTABLISHING A DEFINED CONTRIBUTION PLAN; PROVIDING FOR EXECUTION OF TRUST JOINDER AGREEMENT; PROVIDING FOR ADOPTION OF DEFINED CONTRIBUTION PLAN; PROVIDING FOR ACKNOWLEDGEMENT OF MASTER TRUSTEES; PROVIDING FOR EXECUTION OF AN ADOPTION AGREEMENT; PROVIDING FOR ABIDING BY TERMS AND ACCEPTANCE OF SERVICES; PROVIDING FOR TERMINATION OF PARTICIPATION; PROVIDING FOR ACKNOWLEDGEMENT REGARDING ASSETS; PROVIDING FOR APPROVAL BY MASTER TRUSTEES; PROVIDING FOR FULL FORCE AND EFFECTIVENESS; PROVIDING FOR REPEAL OF CONFLICTING RESOLUTIONS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Cape Canaveral, Brevard County, Florida, (hereinafter referred to as the "Participating Employer") has determined that in the interest of attracting and retaining qualified employees, it wishes to offer a defined contribution plan; WHEREAS, the Participating Employer has also determined that it wishes to encourage employees' saving for retirement by offering non-matching contributions; WHEREAS, the Participating Employer has reviewed the Florida Municipal Pension Trust Fund ("FMPTF") Defined Contribution Plan ("Plan"),- WHEREAS, "Plan");WHEREAS, the Participating Employer wishes to participate in the Plan to provide certain benefits to its employees, reduce overall administrative costs, and afford attractive investment opportunities; WHEREAS, the Participating Employer is an Employer as defined in the Plan; WHEREAS, the Participating Employer shall execute a Trust Joinder Agreement to become a party to the FMPTF Master Trust Agreement as a condition of participating in the Plan; WHEREAS, the Participating Employer shall execute an Adoption Agreement for the Plan; and WHEREAS, the City of Cape Canaveral is authorized by law to adopt this resolution approving the Trust Joinder Agreement and the Adoption Agreement; THEREFORE, the City of Cape Canaveral, Brevard County, Florida hereby resolves: Section 1. The Participating Employer authorizes the execution of the Trust Joinder Agreement for the Participating Employer to become a party to the FMPTF Master Trust Agreement. The FMPTF Master Trust Agreement, as may be amended by the Master Trustees of the FMPTF Defined Contribution Plan ("Master Trustees"), shall be attached to and made a part of the Trust Joinder Agreement. Section 2. The Participating Employer adopts the FMPTF Defined Contribution Plan for its Employees. The Plan, as may be amended by the Master Trustees, is attached hereto as Exhibit 1 and is made a part of this Resolution. Section 3. The Participating Employer acknowledges that the Master Trustees are only responsible for the Plan and have no responsibility for other employee benefit plans maintained by the Participating Employer. Section 4. The Participating Employer hereby adopts the terms of the Adoption Agreement, which is attached hereto as Exhibit 2 and is made a part of this Resolution. The Adoption Agreement sets forth the Employees to be covered by the Plan, the benefits to be provided by the Participating Employer under the Plan, and any conditions imposed by the Participating Employer with respect to, but not inconsistent with, the Plan. The Participating Employer reserves the right to amend its elections under the Adoption Agreement, so long as the amendment is not inconsistent with the Plan, the FMPTF Master Trust Agreement or the Internal Revenue Code or other applicable law and is approved by the Master Trustees of the Plan. Section 5. (a) The Participating Employer shall abide by the terms of the Plan and the FMPTF Master Trust Agreement, including amendments to the Plan and the FMPTF Master Trust Agreement made by the Master Trustees, all investment, administrative, and other service agreements of the Plan and the FMPTF Master Trust Agreement, and all applicable provisions of the Internal Revenue Code or other applicable law. (b) The Participating Employer accepts the administrative services to be provided by Florida League of Cities, Inc. and any services provided by a service manager as delegated by the Master Trustees. The Participating Employer acknowledges that fees will be imposed with respect to the services provided and that such fees may be deducted from the Participating Employees' accounts. Section 6. (a) The Participating Employer may terminate its participation in the Plan, if it takes the following actions: (i) A resolution must be adopted terminating its participation in the Plan. (ii) The resolution must specify when the participation will end. The Master Trustees shall determine whether the resolution complies with the Plan, the FMPTF Master Trust Agreement, and all applicable federal and state laws, shall determine an appropriate effective date, and shall provide appropriate forms to terminate ongoing participation. However, distributions under the Plan of existing accounts to Participating Employees will be made in accordance with the Plan. (b) The Participating Employer acknowledges that the Plan and the FMPTF Master Trust Agreement contain provisions for involuntary Plan termination. Section 7. The Participating Employer acknowledges that all assets held in connection with the Plan, including all contributions to the Plan, all property and rights acquired or purchased with such amounts and all income attributable to such amounts, property or rights shall be held in trust for the exclusive benefit of Participating Employees and their Beneficiaries under the Plan. No part of the assets and income of the Plan shall be used for, or diverted to, purposes other than for the exclusive benefit of Participating Employees and their Beneficiaries and for defraying reasonable expenses of the Plan. All amounts of compensation deferred pursuant to the Plan, all property and rights acquired or purchased with such amounts and all income attributable to such amounts, property or rights held as part of the Plan, shall be transferred to the Master Trustees to be held, managed, invested and distributed as part of the Master Trust Fund in accordance with the provisions of the Plan and the FMPTF Master Trust Agreement. All contributions to the Plan must be transferred by the Participating Employer to the Master Trust Fund. All benefits under the Plan shall be distributed solely from the Master Trust Fund pursuant to the Plan. Section S. This Resolution, the Trust Joinder Agreement and the Adoption Agreement shall be submitted to the Master Trustees for their approval. The Master Trustees shall determine whether the Resolution complies with the Plan and the FMPTF Master Trust Agreement, and, if it does, shall provide appropriate forms to the Participating Employer to implement participation in the Plan. The Master Trustees may refuse to approve an Adoption Agreement by an Employer that does not have proper authority to participate in the Plan. The City of Cape Canaveral hereby acknowledges that it is responsible to assure that this Resolution, the Trust Joinder Agreement and the Adoption Agreement are adopted and executed in accordance with the requirements of applicable law. Section 9. This Resolution shall remain in full force and effect until supplemented, amended, repealed or otherwise altered. Section 10. This Resolution hereby repeals all resolutions in conflict herewith. Section 11. This Resolution shall become effective immediately upon its adoption. PASSED AND ORDAINED BY the City Council of the City of Cape Canaveral, Brevard County, Florida, this 18th day of September , 2001. ATTEST: Susan Stills, CITY CLERK Rocky Randels, MAYOR Name Yes No Burt Bruns Richard Treverton Approved as to Form: Buzz Petsos Kohn Bennett, CITY ATTORNEY Larry Weber Rocky Randels TRUST JOINDER AGREEMENT FOR DEFINED CONTRIBUTION PLANS UNDER FLORIDA MUNICIPAL PENSION TRUST FUND MASTER TRUST AGREEMENT THIS TRUST JOINDER AGREEMENT, between the City of Cape Canaveral, Brevard County, Florida (herein referred to as the "Participating Employer") and the Master Trustees of the Florida Municipal Pension Trust Fund (herein referred to as the "Master Trustee"). WITNESSETH: WHEREAS, the Participating Employer desires to provide a defined contribution plan for the sole and exclusive benefit of its Participating Employees and their Beneficiaries, and for such purposes adopted Resolution No. 2001-27 on the 181h day of September , 2001 providing for the establishment of a defined contribution plan; WHEREAS, said Resolution authorizes participation in the Florida Municipal Pension Trust Fund ("FMPTF") and further authorizes the execution of this Trust Joinder Agreement to become a party to the FMPTF Master Trust Agreement; and WHEREAS, the Participating Employer desires to submit this Trust Joinder Agreement to the Master Trustee to become a party to the FMPTF Master Trust Agreement; THEREFORE, in consideration of the mutual covenants and agreements flowing to each of the parties hereto, it is agreed as follows: 1. Both parties to this Trust Joinder Agreement agree that the City of Cape Canaveral, Brevard County, Florida is a Participating Employer as provided in the Florida Municipal Pension Trust Fund Master Trust Agreement ("Master Trust Agreement"). 2. As provided in the plan provisions selected by the Participating Employer, the Participating Employer shall make timely contributions or shall timely forward contributions made by Participating Employees for the defined contribution plan. 3. As provided in the plan provisions selected by the Participating Employer, the Participating Employer shall timely remit or timely approve the remittance of administrative fees as may be due under the defined contribution plan. 4. The Participating Employer agrees to provide all initial and update all relevant Participating Employee information required under the defined contribution plan to the Administrator designated by the Master Trustee. The Participating Employer shall certify said information to be correct to the best of its knowledge and the Master Trustee and the Administrator shall have the right to rely on the accuracy of said information in performing contractual responsibilities. 5. The Participating Employer has the responsibility to provide the Administrator designated by the Master Trustee, in a timely manner, all information concerning Participating Employee termination. The Participating Employer shall certify said information to be correct to the best of its knowledge and the Master Trustee and the Administrator shall have the right to rely on the accuracy of said information in performing contractual responsibilities. 6. The parties to this Trust Joinder Agreement agree to abide by and be bound by the terms, duties, rights and obligations of the parties as set forth in the Florida Municipal Pension Trust Fund Master Trust Agreement, as may be amended by the Master Trustees, which is attached hereto and is made a part of this Trust Joinder Agreement. 7. Either party may terminate this Trust Joinder Agreement by giving at least 60 days notice in writing to the other party. Any termination shall be governed by the provisions of the Florida Municipal Pension Trust Fund Master Trust Agreement and the plan document for the defined contribution plan. IN WITNESS WHEREOF, the Participating Employer has caused this Trust Joinder Agreement to be executed and the signature of its authorized officer affixed this 18`h day of September , 2001. ATTEST: Susan Stills, City Clerk Approved as to Form: Kohn Bennett, City Attorney DATE: CITY OF CAPE CANAVERAL :• Signature Rocky Randels, Mayor FLORIDA MUNICIPAL PENSION TRUST FUND Secretary - Treasurer Florida Municipal Pension Trust Fund § 401(a) Defined Contribution Plan Adoption Agreement Participating Employer: Name of Government Entity City of Cape Canaveral Address P.O. Box 326 Address 105 Polk Ave City -State -Zip Cape Canaveral, FL 32920 Individual to Receive Plan Notices Ms. Andrea Bowers Title City Treasurer Telephone 321-868-1234 Fax 321-799-3170 e-mail Bowcrs-cape@cfl.tT.com Your Plan Administrator is: Florida League of Cities, Inc. 301 S. Bronough Street P.O. Box 1757 Tallahassee, Florida 32302 Phone: (850) 222-9684 Fax: (850) 222-3806 Contacts: Mark Sittig, Retirement Services Manager, 850-224-6779 x276, marksittig@flcities.com Taimmi Jackson, FMPTF Trust Administrator, 850-224-6779 x272 tjackson@flcities.com Plan Provisions The City of Cape Canaveral will use FMPTF's § 401(a) Defined Contribution Plan. For any Plan choice that this Adoption Agreement fails to specify, the Participating Employer is deemed to have specified the first -displayed choice. Your Plan Year is: N October 1 — September 30 ❑ January 1 —December 31 ❑ Other © Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Florida Municipal Pension Trust Fund § 401(a) Defined Contribution Plan Adoption Agreement Payroll Periods The payroll period of the Participating Employer is: ❑ weekly 0 bi-weekly ❑ semi-monthly ❑ monthly ❑ other [specify]: Who's eligible? An Employee is eligible to share in Non -elective Contributions and Matching Contributions (to the extent provided under the Plan) if he or she meets all of the following three eligibility conditions: 1. Age condition An Employee is eligible if he or she has attained: X no age requirement age 16 age 18 age 21 2. Service condition An Employee is eligible if he or she has completed: no service requirement months of Eligibility Service X 1 Year of Eligibility Service —X—Other: _Must work over 1000 hours/year 3. Excluded Employees Every Employee shares in Non -elective Contributions and Matching Contributions except an Employee who belongs to a classification specified below: © Florida Municipal Pension Trust Fund Florida League of Cities, Inc. page 2 Florida Municipal Pension Trust Fund § 401(a) Defined Contribution Plan Adoption Agreement Participating Employer Contributions A Participating Employer may make Non -elective Contributions and/or Matching Contributions as specified below. Non elective Contributions and Matching Contributions that are tied to Payroll Periods (as defined in this Adoption Agreement) must be remitted to the Plan Administrator no later than 15 business days after the Payroll Period. Annual Contributions must be remitted to the Plan Administrator no later than 15 business days after the end of the Plan Year. A Participating Employer may establish different classes of Employees for contribution purposes in this Adoption Agreement. The Participating Employer hereby elects to make Contributions as follows (choose one or both as applicable): Non -elective Contributions — Participating Employer Non -elective Contributions will be made on the following basis: 7% of employee's compensation ❑ Matching Contributions Matching Contributions are Participating Employer Contributions that may be made to match all or a portion of a Participant's contribution to an eligible 457(b) deferred compensation plan. If the Participating Employer provides Matching Contributions, the amount of Matching Contributions made for a Participant each Plan Year will be (choose only one): [ ] up to % of such Participant's Employee Basic Contributions. [ ] % of the Participant's Employee Basic Contributions, which cannot exceed % of the Participant's Benefit Compensation. [ ] other formula (requires approval from the FMPTF ) Non -elective Contributions and Matching Contributions in the year of termination A Participant shall receive the Employer Contribution during the year of termination regardless of time completed, subject to the vesting schedule. Non -elective Contributions and Matching Contributions will be made: per pay X_ monthly quarterly once a year © Florida Municipal Pension Trust Fund Florida League of Cities, Inc. page 3 Florida Municipal Pension Trust Fund § 401(a) Defined Contribution Plan Adoption Agreement Benefit Compensation Benefit Compensation means the Participant's: 0 Benefit Compensation as defined in Provision 3.13 in the Plan Document. ❑ other [specify] ( requires approval from the FMPTF) Vesting for Participating Employer Non -elective Contributions and Matching Contributions A Participating Employer may establish a vesting schedule for Participating Employer Non - elective Contributions and Matching Contributions. This means that if the Participant leaves the Participating Employer's employment prior to completing a specified minimum period of service (not to exceed 5 years), the Participant forfeits the Participating Employer's Non -elective Contributions and Matching Contributions. However, upon Death, Disability, or the Termination of the Plan, the Participant is 100% vested in the Participant's Participating Employer Non - elective Contributions and Matching Contributions, notwithstanding any vesting schedule. If a vesting schedule is established, it is the Participating Employer's responsibility to calculate the Participants service and report it to the Plan Administrator. The Participating Employer hereby elects the following: A Participant becomes Vested in his or her Plan Account according to: ❑ immediate vesting -or- 0 the schedule marked below Vested percentage Years of Vesting Service [ ] [ ] [ ] [X] [ ] 1 0% 0% 20% 0% 2 0% 0% 40% 25% 3 100% 0% 60% 50% 4 **** 0% 80% 75% 5 **** 100% 100% 100% 6 **** **** **** **** © Florida Municipal Pension Trust Fund Florida League of Cities, Inc. page 4 Florida Municipal Pension Trust Fund § 401(a) Defined Contribution Plan Adoption Agreement Unless otherwise specified above, the vesting period will begin on the Participant's first day of employment as an Eligible Employee. In addition, unless otherwise indicated above, Eligible Employees who are employed on the date the Plan is adopted by the Employer will be given credit for prior service as an Eligible Employee for purposes of satisfying the vesting schedule. Also, unless otherwise provided above, different periods of service as an Eligible Employee will be added together in determining whether the vesting period has been satisfied. Restated Plan - If this is a Restated Plan to an existing defined contribution plan and the Vesting Schedule has been amended by this Restated Plan, enter the pre -amended vesting schedule below: a.X Years of Service Percentage Years of Service Percentage Less than 4 years 0% 7 yrs 70%_ 4 yrs _40% 8 yrs 80%_ 5 yrs 50% 9 yrs 90%_ 6 yrs 60%_ 10 or more yrs _100%_ b. Schedule has not been amended. Years of Vesting Service A year of vesting service shall be measured from the Participant's date of hire. The completion of twelve calendar months from the date of hire shall count as a year of vesting service. Any years of vesting service credited from prior years shall remain credited, regardless of revised provisions. Forfeitures Forfeitures shall be held in a Forfeiture Account and be used to reduce future Participating Employer Contributions. © Florida Municipal Pension Trust Fund Florida League of Cities, Inc. page 5 Florida Municipal Pension Trust Fund § 401(a) Defined Contribution Plan Adoption Agreement Changing and Terminating this Adoption Agreement If a Participating Employer desires to amend any of its elections contained in this Adoption Agreement, the Participating Employer by official action must adopt an amendment to the Adoption Agreement or a new Adoption Agreement must be adopted and forwarded to the FMPTF for approval. This Adoption Agreement may be terminated only in accordance with the Plan. Adopting the Plan By signing below, the Participating Employer adopts the FMPTF 401(a) Defined Contribution Plan ("Plan"). The Participating Employer acknowledges that it received a copy of the Plan. The Participating Employer shall receive copies of any Plan amendments made by the FMPTF. The Participating Employer's signer represents that he or she is a proper officer of and has authority to enter into this Adoption Agreement as an obligation of the Participating Employer. Participating Employer Date Accepted for the: Florida Municipal Pension Trust Fund By the Administrator: Florida League of Cities, Inc. Date: li • Name: Title: © Florida Municipal Pension Trust Fund Florida League of Cities, Inc. page 6 Florida Municipal Pension Trust Fund § 401(a) Defined Contribution Plan 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan TABLE OF CONTENTS 1. Establishment of Plan...............................................................................................................3 ................................ 2. Participating Employers......................................................................... ...4 3. Definitions...................................................................................................................................7 4. Service Crediting......................................................................................................................29 5. Eligibility.......................................................................................................................... 6. Participation in the Plan..........................................................................................................31 7. Investment Direction...............................................................................................................31 8. Allocation Methods..................................................................................................................35 9. Contribution Limit..................................................................................................................36 10. Vesting.....................................................................................................................................36 11. Reemployment After Uniformed Service.............................................................................37 12. Qualified Domestic Relations Order....................................................................................40 13. Hardhsip Distribution...........................................................................................................42 14. Intentionally Left Blank........................................................................................................43 15. Retirement Distribution.......................................................................................................43 16. Death Distibution...................................................................................................................44 17. Direct Rollover.......................................................................................................................45 18. Administration of Distribution Procedures.........................................................................45 19. Plan Administrator................................................................................................................52 20. General Provisions.................................................................................................................55 21. Amendment...........................................................................................................................63 22. Termination...........................................................................................................................64 23. Construction..........................................................................................................................65 Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 2 08/16,'2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 1. ESTABLISHMENT OF PLAN 1.1 Establishment of Plan This Plan Document together with the Participating Employer's Adoption Agreement states the provisions of this retirement Plan established and maintained by the Participating Employer(s). 1.2 Previous plan replaced To the extent of the Participating Employer's participation in the Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan, this Plan shall amend and restate any similar plan previously in effect. The restated Plan is effective as of the Restatement Date, except as otherwise specified by the Adoption Agreement. 1.3 Plan type The Plan Sponsor intends to (but is not required to or obligated to) maintain the Plan as a plan that qualifies for favorable federal income tax treatment under IRC § 401(a). 1.4 Individual account plan The Plan is an individual account plan that provides for an individual Account for each Participant and for Benefits based solely upon the amount of Contributions, income and gains and losses, expenses, and Forfeitures allocated to the Participant's Account. 1.5 ERISA does not apply The United States Code provisions created by Title I of the Employee Retirement Income Security Act of 1974 ["ERISA"] do not apply to this Plan. 1.6 Governmental plan rules The following Internal Revenue Code provisions do not apply to this Plan: IRC § 401(a)(3) IRC § 401(a)(4) IRC § 401(a)(5) IRC § 401(a)(6) IRC § 401(a)(10) IRC § 401(a)(11) IRC § 401(a)(12) IRC § 401(a)(13) IRC § 401(a)(14) IRC § 401(a)(15) Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 3 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan IRC § 401(a)(19) IRC § 401(a)(20) IRC § 401(a)(22) IRC § 401(a)(23) IRC § 401(a)(26) IRC § 401(a)(28) IRC § 401(a)(29) The following Internal Revenue Code provisions apply with special rules for governmental plans: IRC § 401(a)(16) IRC § 401(a)(17) IRC § 401(a)(25) The following Internal Revenue Code provision applies as in effect on September 1, 1974: IRC § 401(a)(7). 2. PARTICIPATING EMPLOYERS 2.1 Adoption by Participating Employer An Employer may make the Plan available to its Employees if it takes the following actions: a) The Governing Authority of the Employer must pass a resolution formally adopting this Plan for its Employees and approving the Adoption Agreement. b) The resolution must indicate the date of adoption. c) The resolution must commit to the terms of an Adoption Agreement as completed by the Employer. d) The resolution must specify that the Employer shall abide by the terms of the Plan and the Trust, including all investment, administrative, and service of the Plan, and all applicable provisions of the Code and other applicable law. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 4 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan e) The resolution must acknowledge that the Master Trustees are only responsible for the Plan and have no responsibility for other employee benefit plans maintained by the Employer. 2.2 Participating Employer has same provisions Except as properly specified by the Adoption Agreement, each Participating Employer adopts the Plan as maintained by the Plan Sponsor. The Participating Employer's adoption of the Plan is stated by the Adoption Agreement. 2.3 Amendment binding upon all Participating Employers a) Subject to the provision of any applicable law, the Master Trustee may at any time amend or modify this Plan without the consent of the Participating Employers or of Participants (or any Beneficiaries thereof). Any modification, alteration, or amendment of the Plan, made in accordance with this Provision, may be made retroactively, if deemed necessary or appropriate by the Master Trustee. A copy of the resolution of the Master Trustee making such amendment shall be delivered to the Administrator, and the Plan shall be amended in the manner and effective as of the date set forth in such resolution, and the Participating Employers, Employees, Participants, Beneficiaries, Master Trustee, and Administrator shall be bound by the amendment. A Participating Employer may not amend the Plan in any way. b) Subject to the provisions of applicable law, the Master Trusteeand the Administrator may at any time amend or modify the form of Adoption Agreement with the consent of the Participating Employers, unless otherwise required under Provision 2.4. 2.4 Amendment for Qualification of Plan. It is the intent of the Master Trustees that the Plan shall be and remain qualified for tax purposes under Code Section 401(a) and other applicable provisions. The Master Trustees are permitted (but not required) to submit the Plan to the Internal Revenue Service for a determination under the Internal Revenue Code and all expenses incident thereto shall be borne by the FMPTF. The Master Trustees may make any modifications, alterations, or amendments to the Plan or Adoption Agreement necessary to obtain and retain approval of the Secretary of the Treasury or his or her delegate as may be necessary to establish and maintain the status of the Plan as qualified under the provisions of the Internal Revenue Code, as now in effect or hereafter enacted, and the regulations issued thereunder. Any modification, alteration, or amendment of the Plan or Adoption Agreement, made in accordance with this Section, may be made retroactively, if Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 5 0811612001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan necessary or appropriate. A copy of the resolution of the Master Trustees making such amendment shall be delivered to the Administrator, and the Plan or Adoption Agreement shall be amended in the manner and effective as of the date setforth in such resolution, and the Participating Employers, Employees, Participants, Beneficiaries, Trustees, Administrator, and all others having any interest under the Plan shall be bound thereby. 2.5 Amendment of Adoption Agreement by Participating Employer The Governing Authority shall have the right at any time to amend, in whole or in part, any or all of its elections under the Adoption Agreement without the consent of the Participants or any Beneficiaries. Provided, however, that no such amendment shall: a) Deprive any Participant or Beneficiary of any of the benefits to which the Participant or Beneficiary is entitled under this Plan with respect to amounts credited prior to the effective date of the amendment; or b) Authorize or permit any part of the Master Trust to be diverted to purposes other than the exclusive benefit of the Participants or their Beneficiaries; or c) If an amendment limits or otherwise restricts the deferral and distribution rights of the Participants, the amendment shall become effective on the first day of the month following the giving of not less than forty-five (45) days prior notice of the amendment to Participants. If the amendment was made by the Master Trustee, notice shall be deemed given when the amendment is sent to each Participating Employer. If the amendment was made by the Participating Employer, notice shall be deemed given when the amendment is sent to the Administrator. No amendment shall deprive any Participant of any of the benefits to which the Participant is entitled under this Plan with respects to amounts credited prior to the effective date of the amendment, and d) If the Plan is amended or modified, the Administrator shall nonetheless be responsible for the supervision ;and the payment of benefits resulting from amounts contributed prior to the amendment or modifications in accordance with this Part. 2.6 Contributions by Participating Employer Contributions made by a Participating Employer shall be determined separately by each Participating Employer and shall be paid to and held by individual Account(s) under the Investment(s) for the exclusive benefit of the Participants (and their Beneficiaries) who are Employees of the Participating Employer. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 6 03/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 2.7 Transfer of Participant among Participating Employers The transfer of any Participant from or to any Participating Employer shall not affect the Participant's Benefit or rights under the Plan other than as provided by the Plan. 2.8 Discontinuance of Plan by Participating Employer Any Participating Employer is permitted to revoke and discontinue it's participation in the Plan by giving at least 60 days notice in writing to the Master Trustee. Any termination shall be governed by the provisions of the Florida Municipal Pension Trust Fund Master Trust Agreement and the Plan. 3. DEFINITIONS Whenever used in the Plan, each of the following terms has the meaning stated below: 3.1 "Account" means the total of the individual sub-Account(s) maintained on behalf of each Participant under the Investment(s) held pursuant to the Plan. The Account balance is the total amount or value of the Account (or sub -Account as applicable) reduced by any security interest held by the Plan or by the Issuer(s) for an outstanding loan and reduced by any applicable Investment or Master Trust charges, fees, expenses, and taxes. At any time, the amount or value of any Account or sub -Account is the applicable Account balance (as stated above) as of the last Valuation Date. At any time, the Account shall reflect the Vested portion [the Vested Account]. "Account" may also refer to each of the sub -Accounts. To the extent necessary or desirable to administer the Plan, a separate sub -Account shall be kept to receive each kind of Contribution (and attributable interest or investment earnings). However, the Plan Administrator, in its sole discretion, may combine any sub - Accounts if so doing does not impair the Plan Administrator's ability to operate this Plan according to its provisions. Except as otherwise permitted above, sub -Accounts that are fully Vested shall not be combined with sub -Accounts that are not fully Vested. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 7 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan The sub -Accounts are: Employer Contributions Account Employer Matching Contributions Account Employer Non -elective Contributions Account Transfer Contributions Account Miscellaneous Account If the Participant designates more than one Beneficiary, upon the written request of any Beneficiary or upon an approved claim payable to any Beneficiary and not all Beneficiaries, the Plan Administrator or the Issuer(s) shall, to the extent permitted by the Investment(s), maintain a separate account with respect to the interest of each Beneficiary, beginning as of the next Valuation Date that occurs after the Beneficiary's request or claim is received by the Plan Administrator or the Issuer (as applicable). Each Account statement or confirmation furnished by (or on behalf of) the Plan Administrator or by an Issuer or the Agent is intended as a legally significant statement of the Participant's accrued (but not Vested) Benefit under the Plan. As to each Account statement, if, by the date that is 180 days after the date that the statement was mailed or otherwise sent or delivered (or the later date that is required under applicable Investment Law), the Participant has not delivered a written objection as to the accuracy of the statement, the accounting reported is then settled and conclusive and an account stated. If an objection to any Account statement or confirmation is withdrawn or is adjusted to the Participant's satisfaction, the accounting is then settled and conclusive and an account stated. To the extent that an Account statement or confirmation is an account stated, the Plan Administrator and every party acting under the instruction of the Plan Administrator is discharged from any liability that might otherwise arise out of the Account statement as fully as if the Account had been settled by an appropriate court proceeding. If a court finds that the application of this provision is void as against public policy, this provision shall apply to the extent not so found. 3.2 "Active Participant" means a Participant who received a Contribution allocated to his or her Account during the applicable Year. 3.3 "Adoption Agreement" means the separate but related written agreement executed by the Participating Employer that states the establishment of the Participating Employer's Plan and its adoption of this Plan Document, The Florida Municipal Pension Trust Fund 401(a) Defined Contribution Florida Ntunicipal Pension Trust Fund Florida League of Cities, Inc. Page 8 OS; 16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan Plan, and that states those conforming and elective provisions of this Plan specified by the Participating Employer. 3.4 "Agent" means a person that the Plan Administrator appoints to perform services regarding the Plan. 3.5 "Allocation Date" means the last day of the Year, unless otherwise specified by the Adoption Agreement. 3.6 "Alternate Payee" means a person who is an alternate payee (within the meaning of IRC § 414(p)(8)) under an order directed to the Plan that the Plan Administrator has determined to be a Qualified Domestic Relations Order. 3.7 "Annuity Payout Option" means a Payout Option that includes a provision for payments based, in whole or in part, upon the life of a natural person. 3.8 "Annuity Starting Date" has the meaning given by the applicable Investment. If the Investment fails to define the relevant Annuity Starting Date, the Annuity Starting Date is the first day of the first period for which an amount is paid under any Payout Option. 3.9 "Plan Document" means this Plan document. 3.10 "Beneficiary" means the person(s), whether natural or non -natural, including but not limited to a trustee or other fiduciary, designated by the Participant by a valid Beneficiary Designation in his or her Participation Agreement to receive any undistributed Vested Account balance payable upon or after the Participant's death (the "primary" Beneficiary(s)), or upon or after the primary Beneficiary's death (the "contingent" or "alternate" Beneficiary(s)). The Participant's right to designate his or her Beneficiary is limited by Provision 3.11 and by all of the following provisions. Florida Municipal Pension Trust Fund Florida LeaUuC of Cities, Inc. Pale 9 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan Notwithstanding any Beneficiary designation in the Participation Agreement or otherwise to the contrary, a person shall not be a Beneficiary unless he or she is living or in existence (and, to the extent that the Beneficiary is entitled to receive the Vested Account balance as a trustee or other fiduciary, the person or the entity that the person represents or acts for, is living or in existence) on the Distribution Commencement Date. Any right of a Beneficiary is strictly personal to that Beneficiary and lapses upon his or her death. Any undistributed Vested Account balance that would have been distributable to a Beneficiary if he or she had lived is not distributable to the Beneficiary's heirs. Upon a Beneficiary's death, any undistributed Vested Account balance with respect to that Beneficiary becomes distributable to the remaining primary Beneficiary(s) if any, or if none, to the remaining contingent Beneficiary(s), in each case to be distributable in equal shares to all living Beneficiaries of the applicable primary or contingent Beneficiary class. The Participant must designate each Beneficiary by name. A Beneficiary(s) cannot be designated by relationship or by class, and any such attempted beneficiary designation is absolutely void. Notwithstanding any law to the contrary, a change in marriage (whether statutory or common-law) or family status, including (but not limited to) a divorce, dissolution, annulment or declaration of non -marriage, separation, separate maintenance, revocation of a domestic partner registration, termination or revocation of any marriage or living - together contract, or any other interruption or termination of a spouse or quasi -spouse relationship, has no effect in any way concerning who is the Beneficiary under the Plan. If the Participant designates as Beneficiary more than one person, all persons of the same Beneficiary Designation ("primary" or "contingent") have equal shares (per capita and not per stirpes), unless the Participant specifies otherwise. If a Participant fails to designate a Beneficiary, or if for any reason (including the absence of a surviving designated beneficiary) the Participant's beneficiary designation is invalid or ineffective, the person(s) entitled to the residuary estate of the Participant's estate is (are) the Beneficiary(s), to the extent of the failure or invalid or ineffective designation, with the applicable share of the Plan Account divided among those Beneficiaries in the same shares as their shares of the residuary estate. For the purposes of this Provision, the Plan Administrator may rely on an appropriate court order or the personal representative's written statement as to the identity (including name, address, and Taxpayer Identifying Number) of and shares allocable to the persons entitled to such residuary estate. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 10 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan A named beneficiary who feloniously and intentionally kills the Participant or Beneficiary is not a Beneficiary and is not entitled to any Distribution or any other right under the Plan; and any Vested Account balance is payable as though the killer had predeceased the Participant or Beneficiary. 3.11 "Beneficiary Designation" means the valid and effective Beneficiary Designation made by the Participant, designating the person(s) (which may be a non -natural person) who shall be his or her Beneficiary(s) entitled to receive any undistributed Vested Account balance. At any time before his or her death, the Participant has the right to designate a Beneficiary(s), including a contingent Beneficiary(s), subject to the provisions of the Plan. The Participant shall have the right to change his or her Beneficiary Designation at any time, subject to the provisions of the Plan. A Beneficiary Designation must be in writing, on the form(s) prescribed by the Plan Administrator. A Beneficiary Designation (or change) is not effective until the Plan Administrator receives it. Each Beneficiary Designation completely revokes and cancels any and every previous beneficiary designation. The Participant must designate each Beneficiary by name. A Beneficiary(s) cannot be designated by relationship or by class, and any such attempted beneficiary designation is absolutely void. Notwithstanding the rule that a Participant must designate each Beneficiary by name, if the Plan Administrator, in its sole discretion, finds that a Beneficiary Designation sufficiently describes a trust, that Beneficiary Designation will be construed as naming the duly appointed and currently acting trustee of that trust. Any beneficiary designation that, in whole or in part, designates the Participant's estate as beneficiary shall be construed as designating as Beneficiary(s), to the extent of the share of Vested Account balance specified or otherwise provided for the estate, the personal representative of the Participant's estate. Notwithstanding any law to the contrary, a change in marriage (whether statutory or common-law) or family status, including (but not limited to) a divorce, dissolution, annulment or declaration of non -marriage, separation, separate maintenance, revocation of a domestic partner registration, termination or revocation of any marriage or living - together contract, or any other interruption or termination of a spouse or quasi -spouse relationship, has no effect in any way concerning any Beneficiary Designation. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page l l 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan Any statement in a Beneficiary Designation referring to the Beneficiary's relationship to the Participant is for convenience or information only and has no effect in the construction or interpretation of the Beneficiary Designation. Any statement in a Beneficiary designation attempting to state or create a condition or restriction upon the Beneficiary's receipt or enjoyment of any Vested Account balance is invalid and the Beneficiary is entitled to the Vested Account balance without regard to any attempted condition or restriction. Notwithstanding anything to the contrary in any Beneficiary designation in the Participation Agreement or any other document or otherwise (including but not limited to any court order), any designation of a Beneficiary cannot be irrevocable and any such designation shall be construed as a revocable designation of that Beneficiary. If the Participant designates as Beneficiary more than one person, all persons of the same Beneficiary Designation ("primary" or "contingent") have equal shares (per capita and not per stirpes), unless the Participant specifies otherwise. If a Beneficiary Designation divides a Benefit between or among two or more Beneficiaries, the "primary" Beneficiary Designation must allocate the share of each such Beneficiary solely by specifying a percentage of the Participant's Account and the "contingent" Beneficiary Designation must allocate the share of each such Beneficiary solely by specifying a percentage of the Participant's Account. Without limiting the comprehensive effect of the preceding sentence, any division of any Benefit under a Beneficiary Designation shall be ineffective to the extent that it would ask the Plan Administrator to consider any fact other than the amount of the Participant's Account. A Beneficiary Designation shall be construed to dispose of all of the remaining Plan Account or Vested Account balance. Except as otherwise provided by the Plan, a Beneficiary Designation that uses a term or phrase that would have significance in construing or interpreting a conveyance or a disposition of a decedent's estate shall, except as otherwise specified by the Participant, be construed or interpreted according to the Uniform Probate Code (without regard to the Participant's domicile at the time he or she made the Beneficiary Designation or the Participant's domicile at the time of his or her death). Likewise, if a Beneficiary Designation remains ambiguous after applying all provisions and construction rules stated by this Plan and can be resolved by applying the rules of construction and interpretation of the Uniform Probate Code for construing a beneficiary designation or Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 12 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan conveyance, such rules shall apply to the Beneficiary Designation, except as otherwise provided by the Plan. Any provision of the Uniform Probate Code concerning the effect of divorce or marital separation shall not apply. After the Participant's death, no person has any right or power or discretion to change any Beneficiary (except to disclaim his or her or its Vested Account balance as permitted by Provision18.14, and any such purported provision stated in a Beneficiary Designation or otherwise is ineffective. 3.12 "Benefit" refers to the right under this Plan of the Participant (or Beneficiary or other payee) to receive a Distribution of all or any portion of the Participant's Vested Account. Any Benefit under the Plan shall not be paid or payable except as a: Retirement Distribution Death Distribution Hardship Distribution Corrective Distribution Termination Distribution; or according to the provisions of a Qualified Domestic Relations Order [all as defined and provided below]. All rights and Benefits, including elections, provided by the Plan shall be subject to and limited by the rights awarded to any Alternate Payee pursuant to a Qualified Domestic Relations Order. Any Distribution may, to the extent that the Distribution is an Eligible Rollover Distribution, be paid as a Rollover Distribution. 3.13 "Benefit Compensation" means, except to the extent modified by an express statement in the Adoption Agreement, the total wages, salaries, fees, and other amounts paid (except as modified below) during each Plan Year to the Participant by the Employer for personal services actually rendered in the course of employment with the Employer, excluding compensation payable as bonuses or as overtime, and excluding compensation payable by reason of '`call premium" or "shift differential" or "charge time" unless the Participant is Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 13 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan permanently assigned to the unfavorable shift or duty, and excluding any compensation received in the form of non-taxable fringe benefits. Benefit Compensation shall include the amount of the Participant's elective salary reduction under an IRC § 132(f) qualified transportation fringe and any amounts of compensation deferred as "elective deferrals" (within the meaning of IRC § 402(g)(3) or similar provisions) under any other deferred compensation plan, including but not limited to, plans in accordance with or under IRC §§ 125, 401(k), 402(a)(8), 403(b), 408(k), 457(b), 501(c)(18). To the extent that Contributions are required or permitted to be made for a Disabled Participant, Benefit Compensation is determined on the basis of the Benefit Compensation the Participant would have received if he or she were or had been paid at the rate of compensation paid to the Participant immediately before the Participant became Disabled. In addition to other applicable limits stated by the Plan and notwithstanding any other provision of the Plan to the contrary, for any Plan Year beginning after December 31, 1993 (except as otherwise provided by 3.13.2), the amount of Benefit Compensation determined for the purposes of the Plan shall not exceed the limit prescribed by IRC § 401(a)(17) as adjusted each year according to IRC § 401 (a)(1 7)(B). If the Plan Year or applicable period for determining Benefit Compensation contains fewer than 12 calendar months, then this Benefit Compensation limit is the amount equal to the annual IRC § 401(a)(17) limit for the applicable calendar Year during which the Benefit Compensation period begins multiplied by the ratio that is obtained by dividing the number of full months in the period by 12. If Benefit Compensation for any prior Year is taken into account in determining Contributions for the current Plan Year, the Benefit Compensation for the prior Year is subject to the applicable annual Benefit Compensation limit in effect for that prior Year (and for this purpose the applicable annual Benefit Compensation limit for all Plan Years beginning before January 1, 1994 is $150,000). This definition of "Benefit Compensation" is not intended to control the definition of ;'compensation" for the purposes of applying the IRC § 415(c) annual additions limit or for any purpose other than determining the amount of an Employer Contribution. 3.13.1 Pre -1994 Plan Years In addition to other applicable limits stated by the Plan and notwithstanding any other provision of the Plan to the contrary, for any Plan Year beginning after Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 14 03/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan December 31, 1988 and before January 1, 1994, the amount of Benefit Compensation determined for the purposes of the Plan shall not exceed the limit prescribed by IRC § 401(a)(17), as adjusted each year, without regard to the amendment of IRC § 401(a)(17) made by § 13212(a)(1) of the Omnibus Budget Reconciliation Act of 1993. 3.13.2 Governmental Plan Consistent with § 13212(d)(3)(A) of the Omnibus Budget Reconciliation Act of 1993, for an eligible participant (as defined below) in a Governmental Plan, the general IRC § 401(a)(17) limit stated above shall not apply to the extent that the amount of compensation that is allowed to be taken into account under the Plan would be reduced below the amount that was allowed to be taken into account under the Plan as in effect on July 1, 1993. For the purpose of the preceding sentence, an eligible participant is a natural person who first becomes or became a Participant in the Plan during a Plan Year that begins or began before the first Plan Year that begins or began after December 31, 1995. For any Plan Year that begins after December 31, 1995, the general IRC § 401(a)(17) limit stated above (without regard to the special rule stated by this paragraph) shall apply to each Participant other than an eligible participant. 3.14 "Business Day" means any day on which both the New York Stock Exchange [NYSE] is open for regular trading and the person that is required or permitted to act or that is entitled to receive notice is (or was) open for regular business at its principal office. A Business Day ends at 4 p.m. New York Time, or, if earlier, the time that regular trading closes on the NYSE. As required or permitted by applicable Investment Law, any Agent may make reasonable rules governing the time of the day after which investment instructions will be treated as received on the next Business Day. Without limiting the comprehensive effect of the preceding sentence, any investment direction that includes an instruction to buy or sell registered investment company shares that is received after the closing of the NYSE shall be treated as received on the next Business Day. A day that is not a Business Day ends at 4 p.m. New York Time. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page l 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 3.15 "Compensation" means all wages, salaries, fees, and other amounts paid to the Employee by the Employer for personal services actually rendered in the course of employment with the Employer. 3.16 "Contributions" means Contributions under the provisions of this Plan [as provided in the Adoption Agreement], including Employer Contributions and Rollover Contributions. The Plan shall not accept employee contributions other than Rollover Contributions. Contributions under the Plan shall not be reduced because of the Participant's attainment of any age. Each Participating Employer shall determine according to the provisions of the Plan the amount of Contributions to be made for each Participant. To the extent required for this Plan to qualify under IRC § 401(a), the provisions of this Plan shall be construed, consistent with Treasury Reg. § 1.401-1(b)(1)(ii), to provide: a definite pre -determined formula for allocating Contributions, a definite pre -determined formula for allocating investment earnings (and losses) among Accounts, periodic [at least once each year] valuation of Plan assets (including Investments) and Master Trust assets, periodic [at least once each year] valuation of Accounts, and distribution of Plan Accounts after a fixed number of years (that is no less than 2 years) or the attainment of a specified age (that is not greater than age 65) or upon the occurrence of some event such as death or retirement or Severance -from -employment. 3.17 "Corrective Distribution" means a Distribution required or permitted to remedy a potential violation or correct a violation of Part 9 of this Plan. A Corrective Distribution includes (but is not limited to) a corrective disbursement under Treasury Reg. § 1.415-6(b)(6) or IRS Rev. Proc. 92-93. 3.18 "Corrective Forfeiture" means a Forfeiture required or permitted under Part 9 of this Plan. 3.19 "Custodian" means any Custodian duly appointed and currently serving regarding the Master Trust Agreement. At all times, every Custodian shall be a directed trustee and (except as provided by the next sentence) shall be completely subject to the direction of the Plan Administrator, or Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 16 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan the Participant or Beneficiary or Alternate Payee. The Custodian's only duty is to ensure that all Investments, amounts, property, and rights held under the Master Trust and committed to the Custodian's care are held for the exclusive benefit of Participants and their Beneficiaries. 3.20 "Death Distribution" means any Distribution that does not begin before the death of the Participant (other than a Benefit paid or payable under a Qualified Domestic Relations Order). 3.21 "Deemed Distribution" means a Distribution (of a Vested Account of not more than $0) that is deemed distributed under Provision 15.2. This definition is limited and is not intended to include any other Distribution or distribution that is or may be a deemed distribution within the meaning of IRC § 3405 or otherwise for federal income tax reporting purposes. 3.22 "Direct Rollover" means a payment under the Plan caused by the Master Trustee or Issuer to an Eligible Retirement Plan specified by the Distributee. 3.23 "Disability" or "Disabled" means, consistent with IRC § 22(e)(3) or IRC § 37 or IRC § 72(m)(7) as applicable in the context, the inability of the Participant to engage in any substantial gainful activity by reason of any medically determined physical or mental impairment, which condition (according to a physician's written medical opinion acceptable to the Plan Administrator) can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. The permanence and degree of the impairment shall be supported by medical evidence acceptable to the Plan Administrator. The Plan Administrator has sole discretion to determine whether a Participant is Disabled or has a Disability. 3.24 "Distributee" means any person who receives or but for his or her or its instruction to the Plan Administrator is entitled to receive a Distribution. A Distributee includes an Alternate Payee to whom the Plan Administrator is directed to make a payment under a Qualified Domestic Relations Order. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 17 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 3.25 "Distribution" means, as appropriate in the context, any kind of Distribution or the particular kind of Distribution provided by the Plan, as follows: Hardship Distribution Retirement Distribution Death Distribution Corrective Distribution Termination Distribution Any Distribution may be made, in whole or in part, in cash, or by delivery of an Investment(s) (including any annuity contract or life insurance contract), Fund Shares, other securities, or other assets or property of any kind. Any Distribution of property other than cash shall be valued at fair market value as of the date of the Distribution. If a payee does not as a part of his or her or its written claim specify that a Distribution is to be made in the form of a specified property(s), any Distribution is payable as a cash payment(s). Any Distribution may, to the extent that the Distribution is an Eligible Rollover Distribution, be paid as a Direct Rollover. 3.26 "Effective Date" means with respect to a Participating Employer's participation the date so specified by its Adoption Agreement. If no date is so specified, the Effective Date shall be the date that the Adoption Agreement is executed. 3.27 "Eligible Employee" means an Employee who meets the age and service requirements provided by the Adoption Agreement who is not otherwise excluded (by the Adoption Agreement) from participation in this Plan. Eligible Employee shall not include an Employee who belongs to a classification of employees that is excluded from eligibility to participate in the Plan by any definition, term, or provision specified by the Adoption Agreement. If the Adoption Agreement states any terms for employment classifications, these terms shall have the meaning given by the Participating Employer for other non -pension employment-related purposes. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Pa -e IS 03/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan If the Adoption Agreement specifies that "part-time" Employees are excluded and does not state or refer to a definition of "part-time", a "part-time" Employee means an employee who normally works or, if a schedule applies, is regularly scheduled to work less than 20 hours per week. An Employee who is a Leased Employee shall not be an Eligible Employee, unless otherwise specified by the Adoption Agreement. An Employee shall not be excluded from participation in the Plan solely because of his or her attainment of any age, notwithstanding anything in the Adoption Agreement or otherwise to the contrary. 3.28 "Eligible Retirement Plan" has the meaning given by IRC § 402(c)(8)(B). 3.29 "Eligible Rollover Distribution" has the meaning given by IRC § 402(f)(2)(A). 3.30 "Eligible Rollover Distribution Notice" means the notice prescribed under Treasury Reg. § 1.411(a)- I I (c) without regard to whether IRC § 411 applies to the Plan. 3.31 "Employee" means, except as provided below, a person who performs services for the Employer on a regular basis as a common-law employee and not as an independent contractor, or as a Leased Employee who is deemed an Employee of an Employer according to the provisions below. The fact that a natural person is or is determined to be an employee for the purpose of another employee benefit plan (including another pension plan or retirement plan) or any other legal purpose shall not be construed as any inference that the natural person is an Employee under this Plan. 3.32 "Employee Basic Contributions" means those contributions made under a plan other than this Plan that are required under this Plan as a condition for receiving all or any portion of the Employer Matching Contributions that are provided under this Plan. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Pale 19 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan This Plan's provisions concerning Employee Basic Contributions may be specified by the Adoption Agreement. Employee Basic Contributions can be determined only upon Benefit Compensation paid after the date of eligibility as provided in the Adoption Agreement. 3.33 "Employer" means the Participating Employer named in the Adoption Agreement, or any Employer that has adopted this Plan. Unless the context of the Plan clearly indicates otherwise, the term "Employer" shall be deemed to refer only to each Participating Employer as related to its adoption of and participation in the Plan. By adopting the Plan, each Participating Employer specifically agrees to Provision 2.01 and all Provisions of Part 2 of this Plan. 3.34 "Employer Contributions" means those Contributions made by the Participating Employer and not under a salary reduction agreement, and which the Participant could not have elected to receive in the form of cash or other taxable benefit. Employer Contributions includes Matching Contributions and Non -elective Contributions. This Plan's provisions concerning Employer Contributions may be specified by the Adoption Agreement. 3.35 "Enabling Statute" means the State statute or similar law that grants the Employer legal authority to maintain this Plan. 3.36 "Entry Date" means the pay date of the next available pay period for Employer Contributions to be made after the Eligible Employee enrolls in the Plan (according to Provision 6.01 below). The Plan Administrator may limit the Entry Dates in order to conform to the provisions of its agreement with the Agent. Florida Municipal Pension Trust Fund Florida Lea-ue of Cities, Inc. Pale 20 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 3.37 "Excess Elective Deferrals" means, for each taxable year of the Participant, those elective deferrals that are includible in the Participant's gross income under IRC § 402(g) to the extent that the Participant's elective deferrals for the taxable year exceed the dollar limit under any applicable part of IRC § 402(g) or IRC § 457(b)(2)-(3) or IRC § 457(c). 3.38 "Fees" means any fees required or permitted to be charged against the Participant's (or Beneficiary's or Alternate Payee's) Plan Account according to (any one or more of the following): the Plan, the Master Trust Agreement, the Participation Agreement, an Investment, an investment advisory agreement, any other writing signed by the Participant (or, after the Participant's death, the Beneficiary), any written notice given by or behalf of the Plan Administrator or the Master Trustee that is accepted or deemed accepted by the Participant (or Beneficiary), or any court order. 3.39 "Forfeiture" means that portion of the Participant's Account that is not vested and that is added to the Forfeiture Account according to Provision 3.40 below. 3.40 "Forfeiture Account" means a special Plan account maintained by the Plan Administrator for the purposes of holding Forfeiture amounts until reallocated as specified in the Adoption Agreement. 3.41 "Fund" means a registered investment company, a collective investment fund, an insurance company separate account, or any similar pooled investment under which the value of an interest is calculated according to the number of shares or units held for the holder's account. 3.42 "Governing Authority" means the entity authorized by law to act for the Employer and adopt this Plan through the Adoption Agreement. 3.43 "Hardship Distribution" means a Distribution under Part 13 of this Plan. 13. 3.44 "Internal Revenue Code" or "IRC" or "Code" means the Internal Revenue Code of 1986, as amended, and including any Regulations and rulings (or other guidance of general applicability) under the Code. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 21 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan Any reference to a Section of the Code shall be construed to also refer to any successor provision. Any reference to a Section of Treasury Regulations shall be construed to also refer to any successor provision of such Regulations. Any reference to a Revenue Ruling or Revenue Procedure or IRS Notice or IRS Announcement shall be construed to also refer to any guidance of general applicability that extends, amplifies, or modifies the Revenue Ruling or Revenue Procedure or IRS Notice or IRS Announcement. 3.45 "Internal Revenue Service" or "IRS" means and refers to the Internal Revenue Service, a division of the Department of the Treasury of the United States, and thereby an agency of the government of the United States of America, and any related departments, divisions, or offices under the supervision of the Secretary of the Treasury of the United States of America. 3.46 "Investment" means (any of the following): an annuity contract or custodial account that satisfies the requirements of IRC § 401(f); any annuity contract or life insurance contract that may be held by the Master Trust; any Fund Shares that may be held by the Master Trust; an interest under a group trust (as described in Rev. Rul. 81-100) that may be held by the Master Trust; or any investment that may be held by the Master Trust. The Master Trust shall not hold any Investment that has provisions (whether express or incorporated by reference or at law) that would preclude the correct application of the Plan or the Master Trust Agreement. Each Plan Investment that is not held under the Master Trust shall meet the requirements of IRC § 401(f) and shall be for the exclusive benefit of Participants and their Beneficiaries according to the Plan. For any Investments not held by the Master Trust, the Plan Administrator shall hold all Investments in its name as Plan Administrator and subject to the provisions of the Plan. The Master Trust or the Plan Administrator shall maintain (or cause to be maintained) the indicia of ownership of each Investment within the USA, except as otherwise permitted by 29 C.F.R. § 2550.404b -1(b) applied as if this Plan were a plan subject to 29 U.S.C. § 1104(b). All Investments to be used under the Plan must be specified by the Master Trustee. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 08116/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan The provisions of each Investment (including any provisions stated by each Investment's and each Fund's prospectus and the statement of additional information) are to the extent not inconsistent with the Plan incorporated in the Plan by reference. An Investment may also be referred to (in Plan documents, disclosure information, and forms) by other terms that are not misleading in the context. The Plan and the Master Trust adopt the provisions of the CitiStreet Mutual Fund Select Portfolios Group -Trust Declaration, as amended from time to time, to apply to the trust created for the Plan. 3.47 "Investment Law" means, as applicable or relevant in the context, any Federal or Florida banking law, insurance law, securities law, or similar law. 3.48 "IRA" means any IRC § 408(a) Individual Retirement Account or any IRC § 408(b) Individual Retirement Annuity. 3.49 "Issuer" means the person who has issued or may issue an Investment held regarding the Plan. An Issuer may be a bank, or an insurance company, or a registered investment company, or the issuer of any other instrument or indicia of ownership or beneficial ownership that is held as a Plan Investment. When appropriate in the context, the term Issuer also includes the definition of "issuer" provided by 15 U.S.C. § 77b(4). 3.50 "Leased Employee" has the meaning given by IRC § 414(n). 3.51 "Master Trust" means the trust created and maintained by the Master Trust Agreement. For purposes of the CitiStreet Mutual Fund Select Portfolios Group -Trust Declaration, the Master Trust is the Plan -Trust. 3.52 "Master Trust Agreement" means the Agreement made as of 16"' day of December, 1983 as may be amended and restated, by and between all parties that are now or may hereafter become Participating Employers of the Florida Municipal Pension Trust Fund and the individuals named as Master Trustees pursuant to provisions of the Agreement. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 23 08116/200 l Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 3.53 "Master Trustee" means the individuals collectively who serve as trustees pursuant to the Master Trust Agreement. 3.54 "Matching Contributions" means any Employer Contributions that are made to a Participant's Account on account of the Participant's Employee Basic Contributions. 3.55 "Non -elective Contributions" means Employer Contributions other than Matching Contributions. 3.56 "Notarial Officer" means a natural person who is authorized to take oaths under the law of the jurisdiction in which the relevant document is signed. 3.57 "Participant" means the natural person for whom Contributions under the Plan have been made or accrued and whose Vested Account has not been fully distributed under the Plan. 3.58 "Participating Employer" means an Employer that has passed the Trust Joinder Agreement to become a party to the Florida Municipal Pension Trust Fund and has passed an Adoption Agreement to participate in this Plan. 3.59 "Participation Agreement" means the agreement (in the form prescribed by the Plan Administrator), as amended from time to time, entered into by and between the Participant and the Participating Employer under which the Employee elects to participate in the Plan. The Participation Agreement shall indicate the Investment(s) elected by the Participant, may designate the Participant's Beneficiary(s), and shall incorporate by reference the provisions of the Plan. 3.60 "Payout Option" means any, except as limited below, of the annuity options or other options for payment that are available under the applicable Plan Investment(s) or that are otherwise provided by the Plan Administrator. The Plan Administrator shall not permit the use of any payout option that is based on gender -distinct actuarial tables or that otherwise unlawfully discriminates against any person. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Pale 24 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan The Plan Administrator shall not permit the Participant (or Beneficiary) to elect any Payout Option that does not satisfy all applicable provisions of the Plan, including (but not limited to) Provision 15.3 or Provision 16.3. 3.61 "Plan" means the Plan specified by this Plan Document together with the Participating Employer's Adoption Agreement and, to the extent necessary to comply with IRC § 401(a), the Master Trust Agreement, and any executed amendments thereof, which together constitute the Plan of the Participating Employer specified by the Adoption Agreement. 3.62 "Plan Administrator" or "Administrator" means the Florida League of Cities, Inc. or any successor of it. 3.63 "Plan Sponsor" means the Florida League of Cities, Inc. or any successor to it. 3.64 "Qualified Domestic Relations Order" means a domestic relations order lawfully directed to this Plan that creates or recognizes the existence of the right of an Alternate Payee to receive all or a portion of any Benefit payable to a Participant under the Plan and that is defined as and meets all the requirements for a "qualified domestic relations order" as stated by IRC § 414(p). An order does not fail to be a Qualified Domestic Relations Order solely because the order directs a distribution or payment to be paid or payable to the Alternate Payee(s) at a time that is earlier than the Participant's earliest retirement age. An order shall not be a Qualified Domestic Relations Order unless the Plan Administrator determines that: the order does not require this Plan to provide any type or form of benefit or any option not otherwise provided under this Plan; the order does not require this Plan to provide increased Benefit; and the order does not require the payment of Benefits to an Alternate Payee that are required to be paid to another Alternate Payee under another order that was previously determined to be a Qualified Domestic Relations Order. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Pale 25 08/1612001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan An order shall not be a Qualified Domestic Relations Order unless the Plan Administrator determines that the order clearly specifies: the name and the last known mailing address (if any) of the Participant, and the name and the mailing address of each Alternate Payee; the amount or percentage, or the manner in which the amount or percentage is to be determined, of the Participant's Vested Account to be paid (or payable) to each Alternate Payee; the form of payment, and the number of payments or period to which the order applies. The Plan Administrator may assume that the Alternate Payee named by the court order is a proper payee and need not inquire into whether the person named is a spouse or former spouse of the Participant. 3.65 "Registered Investment Adviser" means an Investment Adviser that is registered with the SEC pursuant to § 203(c) of the federal Investment Advisers Act of 1940, as amended. An agreement to provide investment advice (or the giving of investment advice) to a Participant or Beneficiary or Alternate Payee does not constitute a Registered Investment Adviser as an Investment Manager as to the Plan or the Master Trust. 3.66 "Required Beginning Date" has the meaning given by IRC § 401(a)(9). 3.67 "Restatement Date" means the date so specified by the Adoption Agreement. If no date is so specified, the Restatement Date shall be the date that the Participating Employer executes the Adoption Agreement. 3.68 "Retirement Distribution" means any Distribution other than a Hardship Distribution or a Corrective Distribution that begins before the death of the Participant. 3.69 "Rollover Contribution" means an amount or property received into this Plan according to Part 17. 3.70 "Rollover Distribution" means any Eligible Rollover Distribution (within the meaning of IRC § 402(a)(1)) that is to be paid, directly or indirectly, into another plan or annuity contract as a rollover under IRC § 402(a). Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 26 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 3.71 "SEC" means and refers to the Securities and Exchange Commission, an agency of the government of the United States of America, established by § 4(a) of the federal Securities Exchange Act of 1934. 3.72 "Severance -from -employment" means the later of the last day that the Participant performed service for or was scheduled to perform service for the Employer (including any successor employer) with no obligation for and no particular expectation of future services to be performed by the Participant. The Plan Administrator is entitled to rely upon the date of Severance -from -employment certified by the Employer. 3.73 "Service" has the meaning given by Part 4. 3.74 "Service Agreement" means the agreement between the Plan Administrator or any Participating Employer and the Agent or a Service Provider for services regarding the Plan. 3.75 "Service Provider" means each Agent, each Issuer, any accountant or actuary or lawyer who performs services regarding the Plan in his or her professional capacity, and each other person that the Plan Administrator or any Participating Employer hires or retains or appoints or authorizes or permits to perform services regarding the Plan. Every Service Provider is not a fiduciary. 3.76 "Shares" means shares or similar units of interest in a Fund. 3.77 "Signature Guarantee" means a written guarantee of the signature of the person endorsing a writing that is made by a corporation that is an "eligible guarantor institution" (including but not limited to a Transfer Agent or Securities Broker or Securities Dealer or Bank) as defined by Rule 17Ad-15(a)(2) under the federal Securities Exchange Act of 1934, as amended [the "Rule"] that is not otherwise excluded under the Rule and that is a member of the Securities Transfer Agent Medallion Program ["STAMP"]. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Pa -e 27 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 3.78 "Spouse" or "surviving Spouse" means: for the purposes of minimum distribution provisions, a Beneficiary who is the surviving spouse of the Participant within the meaning of IRC § 401(a)(9)(B)(iv); for any other purpose, the individual that is the Participant's spouse under applicable law. The Plan Administrator may rely on any written statement concerning the existence or non-existence of a Spouse, unless it has actual knowledge to the contrary, and if it in good faith relies shall be discharged from liability concerning any Distribution or Benefit. 3.79 "State" means the State of Florida and includes the meaning given by IRC § 7701(a)(10). 3.80 "Taxpayer Identifying Number" has the meaning given by IRC § 6109. 3.81 "USA" means the United States of America. To the extent that any provision of the Plan is intended to state a provision that meets a requirement of or by reference to IRC § 401(a) or IRC § 501(a), USA shall be construed according to IRC § 7701(a)(9), except as otherwise required or permitted by the Internal Revenue Code for the applicable requirement. 3.82 "Valuation Date" means - for any "unallocated" Investment each valuation date or the last day of each valuation period as provided by the Investment, or as provided by the Plan Administrator's agreement with the Agent. for any "allocated" Investment each regular Business Day on which the Issuer values the accounts under the Investment. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 28 0811 6/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan for any Trust account each valuation date or the last day of each valuation period as provided by the Plan Administrator's agreement with the Service Provider. Each Investment or Master Trust account shall provide that the Allocation Date (or, if for any Year the Allocation Date is not a regular Business Day, the regular Business Day that immediately precedes the Allocation Date) is a Valuation Date. A Valuation Date that is a Business Day ends at the same time that the Business Day ends. A Valuation Date that is not a Business Day ends at 4 p.m. New York Time. 3.83 "Valuation Period" means the time after the end of a Valuation Date to the end of the next Valuation Date. 3.84 "Vested" refers to the portion of the Participant's Account that is currently non -forfeitable under the Plan. 3.85 "Vested Account" means the portion of the Participant's Account that is currently non -forfeitable or Vested under the Plan. 3.86 "Vesting Break -in -Service" means a 12 -month Vesting Computation Period during which the Participant fails to complete a Year of Vesting Service under the elapsed time method of crediting service. 3.87 "Year" means the Employer's Plan Year, as specified by the Adoption Agreement. The limitation year is the calendar Year. The Plan Administrator shall be entitled to rely on the assumption that a Participant's taxable year is the calendar Year, unless the Participant gives written notice specifying his or her taxable year. 4. SERVICE CREDITING 4.1 Service crediting procedure Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 29 08/1612001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan A year of vesting service shall be measured from the Participant's date of hire. The completion of twelve calendar months from the date of hire shall count as a year of vesting service. Any years of service credited from prior years shall remain credited, regardless of revised provisions, 4.2 USERRA service crediting To the extent required by Part 11, the Plan Administrator shall count service consistent with Part 11. 5. ELIGIBILITY 5.1 Eligibility requirements Except as otherwise provided by the Plan, any Eligible Employee is eligible to receive an allocation of any Employer Matching Contributions (if Employee Basic Contributions are made) or receive an allocation of any Employer Non -elective Contributions (or both). 5.2 Immediate eligibility for existing Employees If the Adoption Agreement specifies that this Plan is an amended and restated plan, any Employee who was a Participant on the day before the Restatement Date shall be an Eligible Employee, notwithstanding any age and service requirements or other eligibility conditions that are specified by the Adoption Agreement, unless otherwise specified by the Adoption Agreement. 5.3 Decision as to eligibility The Plan Administrator shall decide all questions of eligibility for participation in the Plan. 5.4 Changes in eligibility If a Participant shall go from a classification of an Eligible Employee to a non -eligible classification, the Participant shall continue to have his or her interest in the Plan, but no Employer Contributions or Employee Basic Contributions shall be made for the Employee during the time that he or she is employed in a non -eligible classification. If the Participant is then later employed in an eligible classification, Contributions shall resume immediately for any Employer Non -elective Contributions, or upon the effective time (including any recommencement) of the Eligible Employee's salary reduction agreement to make Employee Basic Contributions if the Employer Contributions are Matching Contributions. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 30 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan If an Employee who was not an Eligible Employee becomes an Eligible Employee, the Eligible Employee shall be eligible for the applicable participation in the Plan (as stated by Provision 5.01) immediately upon becoming an Eligible Employee. 6. PARTICIPATION IN THE PLAN 6.1 Enrollment An Eligible Employee or Employee shall enroll in the Plan by completing and executing and delivering all instruments or forms required by the Plan Administrator. 6.2 Employee responsible to enroll If the Eligible Employee or Employee fails to complete and execute and deliver any enrollment forms required according to Provision 6.01, he or she shall not be entitled to receive an allocation of any Contributions under the Plan. The Employer or the Plan Administrator shall not be responsible to notify or advise any Eligible Employee or Employee that he or she has become eligible to participate in the Plan. The Eligible Employee or Employee shall be responsible to know when he or she becomes eligible to participate in the Plan, and shall be responsible to take any action necessary to enroll in the Plan. The Employer shall not be liable for any missed Contributions. 6.3 Enrollment date An Eligible Employee who has become eligible to participate in this Plan shall be eligible to enroll as a Participant (or to receive Employer Contributions) as of the date on which the Eligible Employee satisfies this Plan's eligibility requirements; provided the Eligible Employee is still employed as of that date, or, if not employed on that date, as of the date of rehire (if he or she then satisfies this Plan's eligibility requirements). 7. INVESTMENT DIRECTION 7.1 Participant's duty of investment direction Each Participant (and, when applicable, each Beneficiary or Alternate Payee) shall, subject to the requirements of any applicable Investment Law and of any procedures established by the Plan Administrator and the Agent, direct the investment of his or her or its Account(s). Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 31 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 7.2 Procedure for giving investment direction The Participant, Beneficiary, or Alternate Payee must give his or her or its investment direction according to the provisions of this Plan, including any procedure or form required by the Plan Administrator or the Agent or the Issuer. 7.3 Reasonable frequency The Plan Administrator and each Investment may, but only on a uniform and consistent basis, impose reasonable restrictions on the frequency with which all Participant, Beneficiary, or Alternate Payees may give investment directions. In addition to (and not by limitation upon) such restrictions, the Participant, Beneficiary, or Alternate Payee cannot give more than one investment direction in any Valuation Period and the latest investment direction in a Valuation Period cancels all earlier inconsistent investment directions in that Valuation Period. 7.4 Who directs investment During the Participant's life, the Participant shall direct the investment of his or her Account. During the Participant's disability or incompetence, the person who has authority to act for the Participant under a power-of-attorney accepted by the Plan Administrator or the Agent according to Provision 20.16 ["Power-of-attorney" ] or, if there is no such agent, the person that is the duly appointed and currently serving conservator or guardian of the estate of the Participant shall direct the investment of the Participant's Account. After the Participant's death, the Beneficiary shall direct the investment of his or her or its Account or each Beneficiary shall direct the investment of his or her or its segregated Account. A Participant, Beneficiary, or Alternate Payee may authorize an agent or attorney-in-fact to direct investment for all of his or her or its Account to by giving written notice acceptable to the Plan Administrator and furnishing a power-of-attorney that is accepted by the Plan Administrator according to Provision 20.16. A Participant, Beneficiary, or Alternate Payee cannot delegate investment responsibility for part of his or her or its Account. 7.5 Investment direction must be in writing Each investment direction shall be in writing and shall not be proper unless the writing is signed by the Participant, Beneficiary, or Alternate Payee. Except as otherwise specified by the Agent's investment direction procedure, "writing" and "signed" shall be construed according to Provision 20.22, subject to any security procedures required by the Agent or the Issuer. Without limiting the comprehensive effect of the above, a signed writing includes, to the extent permitted by the applicable Investment(s), a proper telephone communication made in the manner prescribed by the Agent and the Issuer. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 32 08/1612001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 7.6 Proper person to receive investment direction The Participant, Beneficiary, or Alternate Payee shall give his or her or its investment direction only to the Plan Administrator, except as otherwise permitted by a uniform written procedure adopted by the Plan Administrator. Notwithstanding that this Plan's procedure may permit the Agent to receive investment instructions, any investment direction is not effective unless and until actually delivered in good form to and accepted by the Plan Administrator. For any Investment, notwithstanding any service or assistance that may be provided by the Agent, only the Issuer(s) has authority to accept an investment direction and any direction is effective only when and as so received. Nothing in this Plan or otherwise shall be construed to enlarge or augment any legal obligation of the Agent. 7.7 Plan Administrator not responsible Except as provided by Provision 7.8, the Plan Administrator must accept every proper investment direction and the Plan Administrator is obligated to comply with such proper investment direction. Without limiting the comprehensive effect of the above, the Plan Administrator is not under any duty to question any investment direction of a Participant, Beneficiary, or Alternate Payee (or his or her or its agent), or to make any investment recommendations, or to provide to any person any investment advice or investment education, or to provide any investment information. If the Employer or the Plan Administrator or the Master Trust provides any investment education or investment information or investment advice of any kind, the Employer and the Plan Administrator and the Master Trust shall not be liable for any loss or liability arising out of such investment education or investment information or investment advice. 7.8 Investment direction refused The Plan Administrator or any person may decline to implement any investment direction if: • the person receiving the investment direction knows (or a court order has determined) that the Participant, Beneficiary, or Alternate Payee is legally incompetent • the Plan Administrator determines (under a reasonable written procedure uniformly applied to all Participant, Beneficiary, or Alternate Payees) that the investment direction could result in a loss in excess of the applicable Account (or sub -Account) balance • the investment direction would be contrary to this Plan Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 33 08116/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan • the investment direction would be contrary to a court order, even if the court order is not a Plan -approved Qualified Domestic Relations Order. • the investment direction would jeopardize the Plan's (or the Master Trust's) tax qualified status • the investment direction would generate income that would be taxable to the Master Trust • the investment direction would result in a prohibited transaction within the meaning of IRC § 503, or • the investment direction would cause the Master Trust or any person to maintain the indicia of ownership of an Investment or any assets of the Plan outside the jurisdiction of the district courts of the USA or outside the jurisdiction specified by the Master Trust Agreement. 7.9 Failure to give investment direction If at any time a Participant, Beneficiary, or Alternate Payee fails to exercise his or her or its duty of investment direction (or an investment direction is refused), the Plan Administrator shall, to the extent of the failure of proper investment direction, cause the Account or applicable sub-Account(s) or segregated Account to be invested as specified under a written procedure adopted by the Plan Administrator. 7.10 Investment direction during domestic relations or bankruptcy matter Notwithstanding any notice to the Plan Administrator (or to any other person dealing with or performing services regarding the Plan) that a domestic relations order or bankruptcy demand or court order or similar court order relating to the Plan is or may be presented, the Participant shall continue to exercise his or her duty of investment direction as required by the Plan unless a final court order expressly provides otherwise and the Plan Administrator does not challenge, contest, or appeal the court order. If such a court order provides for an Alternate Payee (or any person other than the Participant) to have a right of investment direction under the Plan, the Plan Administrator shall give effect to that court order to the extent permitted by the Plan, and the Plan Administrator may give effect to that court order even contrary to the Plan if the Plan Administrator does not challenge, contest, or appeal the court order. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 34 08/16/1-001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 7.11 Expenses of investment direction The Plan Administrator may charge the Participant's or Beneficiary's Account for the expenses of executing his or her or its investment direction. If such expenses are so charged, the Plan Administrator shall maintain reasonable procedures to inform Participant, Beneficiary, or Alternate Payees that such charges are made and to inform each Participant, Beneficiary, or Alternate Payee as to the actual expenses charged to the Participant's or Beneficiary's individual Account. If the execution of an investment direction would incur an unusual charge or any tax under the Investment or otherwise under applicable law, any person receiving the investment direction may (but is not required to) require the Participant, Beneficiary, or Alternate Payee to acknowledge in writing that he or she or it understands each charge or tax and how the charge or tax is calculated or determined. 7.12 Employer relieved from fiduciary responsibility To the extent of the Participant's or Beneficiary's investment direction, the Employer and the Plan Administrator and the Master Trust and the Agent and each Issuer and each person performing services regarding the Plan is relieved of any fiduciary responsibility and every kind of liability, and is not responsible for or liable for any damage or loss or expense or other claim which may arise from that Participant's or Beneficiary's investment direction or exercise of control (or from that Participant's or Beneficiary's failure to exercise his or her or its duty of investment direction and control). 7.13 Employer not responsible for Plan Investment selection Except as otherwise required by the Enabling Statute, each Employer and the Plan Administrator does not have any responsibility and shall not have any liability relating to the selection of Plan Investments. Without limiting the comprehensive effect of the above, the Employer is not liable for losses or damages arising out of. any action in approving or purchasing any Plan Investment(s), any bankruptcy or insolvency or impairment or liquidation or rehabilitation or supervision of any Issuer(s), any other impairment of any Issuer's ability to meet its obligations, or the performance of any Plan Investments. S. ALLOCATION METHODS 8.1 Employer Contributions are discretionary Employer Contributions under this Plan shall be allocated as defined in the Adoption Agreement. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 35 08/16/_001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 8.2 Non -elective Contributions Each Participating Employer shall allocate Employer Non -elective Contributions among Participants who had Benefit Compensation during the Year, unless otherwise specified by the Adoption Agreement. 8.3 Matching Contributions Each Participating Employer shall allocate Employer Matching Contributions among Participants who made Employee Basic Contributions during the Year and had Benefit Compensation during the Year, unless otherwise specified by the Adoption Agreement. 8.4 Contributions during Disability Unless otherwise specified by the Adoption Agreement, each Participating Employer shall continue to make Employer Contributions for a Disabled Participant on the basis of the Benefit Compensation the Participant would have received if he or she were or had been paid at the rate of compensation paid to the Participant immediately before the Participant became Disabled. However, the Participating Employer shall continue Matching Contributions only to the extent that the Disabled Participant actually makes Employee Basic Contributions. Any Employer Contributions made under this paragraph are non -forfeitable when made. 9. CONTRIBUTION LIMIT 9.1 Plan to satisfy annual additions limit Notwithstanding any other provision of this Plan, if IRC § 415(c)(1) applies to Contributions under this Plan, and solely to the extent that IRC § 401(a)(16) applies to this Plan, the Contributions credited to a Participant's Account for any limitation year shall not exceed the limit prescribed by IRC § 415(c). The provisions of IRC § 415 are incorporated by reference and made a part of the Plan. 10. VESTING 10.1 Vesting in Employer Contributions The Participant's Vested Employer Contributions Account shall be determined on the basis of the vesting provisions specified by the Adoption Agreement. If no vesting provision is so specified, Provision 10.2 applies. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 36 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 10.2 Immediate vesting If the Adoption Agreement specifies (or is deemed to specify) immediate vesting, a Participant's interest in his or her Employer Contributions Account shall immediately become and shall at all times remain fully vested and non -forfeitable. 10.3 Vesting rules Except as otherwise specified, the Plan shall be construed to state provisions consistent with IRC § 401(a)(7) as in effect on September 1, 1974. 11. REEMPLOYMENT AFTER UNIFORMED SERVICE 11.1 Reemployment after Uniformed Service To the extent required by 38 U.S.C. § 4318, a person who is a member of, applies to be a member of, has performed, applies to perform, or has an obligation to perform service in a Uniformed Service shall not be denied any Benefit or right under this Plan on the basis of such membership, performance of service, application for service, or obligation. Consistent with all provisions of USERRA, any provision of this Part and any other right under the Plan arising out of or related to reemployment after Service in the Uniformed Services does not apply unless and until: the person is eligible for reemployment under 38 U.S.C. § 4304 [honorable discharge], the person applied for reemployment in compliance with 38 U.S.C. § 4312, and the Participant or Employee famishes to the Plan Administrator satisfactory documentation concerning the Service in the Uniformed Services consistent with 38 U.S.C. § 4312(e)(3)(B). The provisions of IRC § 414(u) are incorporated by reference and made a part of the Plan. 11.1.1 Effective dates Consistent with USERRA § 8, the provisions of United States Code title 38 chapter 43, as in effect on the day before the date of enactment of USERRA, apply to reemployments before December 12, 1994. Consistent with USERRA § 8, the provisions stated in this Part apply to reemployments on or after December 12, 1994, except that any obligation under this Part shall not commence until October 13, 1996. 11.2 Definitions Solely for the purposes of this Part (including any Provision or Definition that refers to this Part), each of the following terms has the meaning stated below. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 37 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 11.2.1 "Qualified Military Service" means, consistent with IRC § 414(u)(5), any Service in the Uniformed Services (as defined below) if the individual is entitled to reemployment rights under USERRA with respect to such service. 11.2.2 "Service in the Uniformed Services" means, consistent with 38 U.S.C. § 4303(13), the performance of duty on a voluntary or involuntary basis in a Uniformed Service under competent authority and includes active duty, active duty for training, initial active duty for training, inactive duty training, full-time National Guard duty, and a period for which a person is absent from a position of employment for the purpose of an examination to determine the fitness of the person to perform any such duty. 11.2.3 "Uniformed Service" means, consistent with 38 U.S.C. § 4303(16), any one or more of the Armed Forces, the Army National Guard or the Air National Guard when engaged in active duty for training or inactive duty training or full-time National Guard duty, the commissioned corps of the Public Health Service, or any other category of persons designated by the President of the USA in time of war or emergency. 11.2.4 "USERRA" means the Uniformed Services Employment and Reemployment Rights Act of 1994 (Public Law No. 103-353) [October 13, 1994] codified at 38 U.S.C. § 4301 et seq.. 11.3 Service crediting Consistent with 38 U.S.C. § 4318(a)(2)(A) and IRC § 414(u)(8)(A), a person reemployed under 38 U.S.C. § 4301 et seq. shall be treated as not having incurred a break -in-service by reason of such person's period(s) of Qualified Military Service. Consistent with 38 U.S.C. § 4318(a)(2)(B) and IRC § 414(u)(8)(B), upon reemployment under 38 U.S.C. § 4301 et seq., each period of Qualified Military Service shall constitute service under this Plan for the purpose of determining the nonforfeitability of the Participant's accrued benefits under this Plan and for the purpose of determining the accrual of benefits under this Plan. 11.4 Compensation Consistent with 38 U.S.C. § 4318(b)(3) and IRC § 414(u)(7) and IRC § 457(e)(5), for the purposes of computing any Contributions required or permitted under this Part, the reemployed Participant's Compensation during the period of Qualified Military Service shall be either the Compensation the Participant would have received during such period if Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 38 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan the Participant were not in Qualified Military Service, determined based on the rate of pay the Participant would have received from the Employer but for absence during the period of Qualified Military Service, or, if the Compensation the Participant would have received during the period of absence for Qualified Military Service was not reasonably certain, the Participant's average Compensation from the Employer during the 12 -month period (or, if shorter, the entire period of employment) immediately preceding the Qualified Military Service. 11.5 Non -elective Employer Contributions Consistent with 38 U.S.C. § 4318(b)(1) and IRC § 414(u), if a person is reemployed under 38 U.S.C. § 4301 et seq., with respect to the period(s) of Service in the Uniformed Services, the Employer shall pay (if it has not already done so) and the Plan Administrator shall allocate to the reemployed Participant's Account any Employer Non -elective Contribution for the Participant in the amount (without investment income or earnings of any kind) that would have been allocated to the Participant's Account if the Participant had been actively at work for the Employer. 11.6 Matching Employer Contributions Consistent with 38 U.S.C. § 4318(b)(2), if a person is reemployed under 38 U.S.C. § 4301 et seq. and makes Employee Contributions as permitted by Provision 11.7, and if permitted under the Plan, with respect to the period(s) of Service in the Uniformed Services, the Employer shall pay (if it has not already done so) and the Plan Administrator shall allocate to the reemployed Participant's Account any Employer Matching Contribution for the Participant in the amount (without investment income or earnings of any kind) that would have been allocated to the Participant's Account if the Participant had been actively at work for the Employer to the extent that the reemployed Participant makes payment to the Plan for Employee Contributions. Consistent with IRC § 414(u)(2)(A)(ii), the Employer has no obligation to pay the Matching Contribution until and its obligation is only to the extent that the reemployed Participant pays his or her Employee Contribution, if permitted under the Plan. 11.7 Employee Contributions Consistent with 38 U.S.C. § 4318(b)(2) and IRC § 414(u)(2), if a person is reemployed under 38 U.S.C. § 4301 et seq., with respect to the period(s) of Service in the Uniformed Services, the Participant may pay, if permitted under the Plan, (if he or she has not already done so) and the Plan Administrator then shall allocate to the reemployed Participant's Account any Employee Contributions in the amount required or any amount permitted that would have been required or permitted to be made and then allocated to the Participant's Account if the Participant had been actively at work for the Employer. No such payment shall exceed the amount the reemployed person would have been permitted to contribute Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Pa -e 39 08116/_001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan had the person remained continuously employed by the Employer throughout his or her Service in the Uniformed Services. Consistent with IRC § 414(u)(2)(A)(i), any such payment to the Plan may be made during the period beginning with the date of reemployment and whose duration is the lesser of five years or three times the period of the reemployed person's Service in the Uniformed Services. 12. QUALIFIED DOMESTIC RELATIONS ORDER 12.1 QDRO procedures The Plan Administrator may establish written procedures (consistent with IRC § 414(p)(6)), which may be the procedures stated by Provision 12.7, for determining whether an order directed to the Plan is a Qualified Domestic Relations Order. 12.2 Determination as to order's status The Plan Administrator may make a determination on whether a court order directed to the Plan is a Qualified Domestic Relations Order. The Plan Administrator may delay its consideration of any order until 30 days after the date of the order. However, upon the request of either the Participant or the proposed Alternate Payee, the Plan Administrator may (but is not required to) expedite consideration of an order if the party requesting expedited consideration delivers to the Plan Administrator a written legal opinion (which states that the Plan Administrator may rely on the opinion) to the effect that all rehearing and appeal rights with respect to the order have expired. 12.3 Notice of determination The Plan Administrator may notify the Participant and any Alternate Payee, or their attorneys, of its determination on any order. 12.4 Investment direction during domestic relations matter Notwithstanding any notice to the Plan Administrator (or to any other person dealing with or performing services regarding the Plan) that a domestic relations order is or may be presented to be determined as a Qualified Domestic Relations Order, the Participant shall continue to exercise his or her duty of investment direction as required by the Plan unless a court order expressly provides otherwise and the Plan Administrator determines that the court order is a Qualified Domestic Relations Order. If a Qualified Domestic Relations Order provides for an Alternate Payee (or any person other than the Participant) to have a Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 40 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan right of investment direction under the Plan, the Plan Administrator shall give effect to that court order to the extent permitted by the Plan. 12.5 Giving effect to a Qualified Domestic Relations Order If the Plan Administrator determines that an order is a Qualified Domestic Relations Order, the Plan Administrator may instruct the Master Trustee or the Issuer(s) to cause the payment of amounts pursuant to (and to prevent any payment or act which might be inconsistent with) the Qualified Domestic Relations Order, notwithstanding any contrary provision of the Plan. 12.6 Inability to locate payee If any payment under a Qualified Domestic Relations Order cannot be paid because the Alternate Payee cannot be located upon reasonable efforts [including services available from the Social Security Administration], the Plan Administrator may (but is not required to) direct the Issuer(s) or Master Trustee to cause the payment of the Benefit into an interest-bearing FDIC -insured bank account or IRA opened in the Alternate Payee's name. 12.7 QDRO procedures Unless the Plan Administrator adopts a different written procedure, the procedure for administering Qualified Domestic Relations Orders shall be as follows: The Plan Administrator shall promptly notify the Participant and each Alternate Payee of receipt of such order and the Plan's procedures for determining the qualified status of domestic relations orders. The Plan Administrator will then determine if the order meets the requirements of the Plan. If the Plan Administrator determines the order to be a Qualified Domestic Relations Order, it will send a written determination to the named Issuer(s) of the Investment(s), and give notice to the Plan Participant, the Alternate Payee(s), and their attorneys, so that they may act according to the provisions of the order. If the Plan Administrator determines that the order is not a Qualified Domestic Relations Order, it must ensure that the Plan does not make any distribution from the Participant's Account for a period of 18 months, unless the Alternate Payee either releases a claim to the Benefits or the parties obtain an amended order which is determined by the Plan Administrator to be a QDRO. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 41 08/l6/?001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 13. HARDSHIP DISTRIBUTION 13.1 Hardship Distribution A Participant shall be permitted to make a hardship withdrawal from the Vested amount (as determined by this Plan) credited to his Employer Contributions Account if the Participant certifies that he or she has uncured an immediate and heavy financial need for funds. For these purposes, an immediate and heavy financial need shall include a need: (1) to pay medical expenses described in Section 213(d) of the Code incurred by the Participant, his or her spouse, or his or her dependents; (2) to purchase the principal residence of the Participant (excluding mortgage payments); (3) to pay tuition for the next semester or quarter of post -secondary education for the Participant, his or her spouse, or his or her dependents; (4) to prevent the eviction of the Participant from his or her principal residence or foreclosure on the mortgage of the Participant's principal residence; or (5) to meet any other demonstrable emergency of the Participant as determined by the Plan Administrator on a uniform and nondiscriminatory basis in accordance with the rules and regulation sunder 401(a) of the Code. 13.2 Hardship The amount of any hardship withdrawal by a Participant under Provision 13.1 shall not exceed the amount necessary to satisfy the immediate and heavy financial need and not reasonably available from other resources of the Participant. For these purposes, a hardship withdrawal will be treated as necessary to satisfy an immediate and heavy financial need under Provision 13.1 above if the Participant certifies that the need cannot be relieved; (1) through reimbursement or compensation by insurance or otherwise; (2) by reasonable liquidation of the Participant's assets to the extent such liquidation would not itself cause an immediate and heavy financial need; or (3) by other distributions from the Plan or by borrowing from commercial sources on reasonable commercial terms. 13.3 Manner of Making Hardship Withdrawals Any withdrawals by a Participant under the Plan shall be made only after the Participant files a written request with the Administrator specifying the nature of the withdrawal (and reasons therefore, if a hardship withdrawal) and the amount of funds requested to be withdrawn. Upon approving any withdrawal, the Administrator shall furnish the Custodian with written instructions direction the Custodian to make the withdrawal in a lump -sum payment to the Participant. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 42 08/1612001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 14. {Part 14 is intentionally left blank] 15. RETIREMENT DISTRIBUTION 15.1 Retirement Distribution Upon Retirement, the Participant is entitled to apply to receive his or her Benefit payable under any Payout Option that satisfies the provisions of the Plan, including (but not limited to) Provision 15.3. 15.2 Deemed Distribution Upon Retirement, or if earlier upon Severance -from -employment, if the Participant's Vested Account is $0 (as of the date of his or her Retirement or Severance -from - employment), the Participant shall be deemed to have received a Deemed Distribution of his or her Vested Account. 15.3 Minimum distribution For any Distribution that commences on or after the Required Beginning Date or with respect to a Distribution that commences before the Required Beginning Date to the extent of payments to be made after the Required Beginning Date, the Payout Option must meet the requirements of IRC § 401(a)(9), including IRC § 40 1 (a)(9)(G). 15.4 Required Beginning Date Distribution A Retirement Distribution shall commence not later than the Required Beginning Date. 15.5 Default Retirement Distribution If a Retirement Distribution is required to begin according to Provision 15.4 and the Participant has not filed an application for payment by the date that is 90 days before the Participant's Required Beginning Date or Normal Retirement Age (or if the Plan Administrator has denied an application and an acceptable re-application has not been Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 43 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan filed before the applicable date), the Plan Administrator shall direct payment (or, if provided by the Investment, the Issuer may without instruction make payment) according to the automatic Payout Option provided by the applicable Investment(s), or, to the extent not so provided, as a lump sum distribution. 16. DEATH DISTRIBUTION 16.1 Death Distribution Upon the Participant's death before a Retirement Distribution has begun (and before the Participant has otherwise received a total distribution of his or her Vested Account), the Beneficiary(s) is entitled to receive a Death Distribution under any Payout Option that satisfies the requirements of Provision 16.02-16.03 of this Plan. 16.2 Continuing Retirement Distribution after death If the distribution of the Participant's Benefit has begun under a Retirement Distribution, and the Participant dies before the entire interest has been distributed according to the terms of the Payout Option, the remaining interest shall be distributed according to the terms of the Payout Option. In any such case, to the extent required by IRC § 401(a)(9) the remaining interest shall be distributed at least as rapidly as under the Payout Option or other method of distribution being used as of the date of the Participant's death. 16.3 Minimum distribution For any Distribution that commences on or after the Required Beginning Date or with respect to a Distribution that commences before the Required Beginning Date to the extent of payments to be made after the Required Beginning Date, the Payout Option must meet the requirements of IRC § 401(a)(9), including IRC § 401(a)(9)(G). 16.4 Required Beginning Date Distribution A Death Distribution shall commence not later than the Required Beginning Date. 16.5 Default Death Distribution If a Death Distribution is required to begin according to Provision 16.4 and the Beneficiary has not filed an application for payment by the date that is 90 days before the Participant's Required Beginning Date or Normal Retirement Age (or if the Plan Administrator has denied an application and an acceptable re-application has not been filed before the applicable date), the Plan Administrator shall direct payment (or, if Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 44 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan provided by the Investment, the Issuer may without instruction make payment) according to the automatic Payout Option provided by the applicable Investment(s), or, to the extent not so provided, as a lump sum distribution. 17. DIRECT ROLLOVER 17.1 Direct Rollover Consistent with IRC § 401(a)(31), for any Distribution paid after December 31, 1992 that is an Eligible Rollover Distribution, the Distributee may elect, at the time and in the manner prescribed by the Plan Administrator, to instruct the Plan Administrator (and the Issuer) to have any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the Distributee. 17.2 Eligible Rollover Distribution payable without delay The Plan Administrator may (but is not required to) commence the Distribution less than 30 days after the Eligible Rollover Distribution Notice is given only if the following requirements are met. Consistent with Treasury Reg. § 1.402(c)-2, the Plan Administrator must inform the Distributee (in the Eligible Rollover Distribution Notice or otherwise) that the Distributee has a right to a period of at least 30 days after receiving the Eligible Rollover Distribution Notice to consider the decision of whether or not to elect a Distribution and any available Payout Option, and the Distributee after receiving the Eligible Rollover Distribution Notice must affirmatively elect a Distribution. 18. ADMINISTRATION OF DISTRIBUTION PROCEDURES 18.1 Claim for Distribution Any Distribution shall be paid only upon a completed and properly executed written claim made in a form acceptable to the Plan Administrator that states under penalties of perjury all facts and authorizations necessary or appropriate to the Distribution, including but not limited to: Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Pale 45 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan • if the Distribution is a Retirement Distribution, appropriate evidence that the Participant has a Severance -from -employment; • if the Distribution is an Eligible Rollover Distribution, the Distributee's instruction as to whether the Distribution (or a portion of the Distribution) is to be paid directly to an Eligible Retirement Plan, and if any amount is to be paid directly to an Eligible Retirement Plan, the name and address of the trustee or issuer of that Eligible Retirement Plan together with any other information that the Plan Administrator or Issuer reasonably requests pursuant to Treasury Reg. § 1.401(a)(3I)-1T. • if the Distribution is a Death Distribution, appropriate evidence of the Participant's death; • if the Distribution is a Hardship Distribution, an appropriate certificate or evidence of the facts constituting the Participant's unforeseeable emergency; • if the Participant has a designated Beneficiary, the date -of -birth of the Designated Beneficiary; • if the Distribution is in the form of an Annuity Payout Option, the date -of -birth of any annuitant designated under the Annuity Payout Option; and • whenever required by the Plan Administrator, the date -of -birth of any person as relevant to the Distribution; and • if the Account consists of more than one Investment, the order in which any Investments are to be charged or liquidated to pay the Distribution; and • if the amount of the Distribution is greater than a uniform amount established by the Plan Administrator, appropriate assurance (including a Signature Guarantee) that the Participant's or Beneficiary's signature is genuine; and • any other evidence or information that the Plan Administrator finds is relevant to administer a provision of the Plan in the Participant's or Beneficiary's and the Distributee's circumstances. Absent contrary evidence actually known to the Plan Administrator, an appropriate death certificate or a court order stating that the Participant is found to be absent and presumed dead shall constitute appropriate evidence of the Participant's death. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 46 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan If the Distributee fails to submit proper instructions, the Plan Administrator may, at its discretion, deny the claim; or may determine which Plan Investment(s) and investment options are to be charged. 18.2 Time for Distribution The Plan Administrator may require for payment of any Distribution a minimum advance notice, uniformly determined and consistently applied. In addition to the above, no payment can be made before the Distribution Commencement Date. 18.3 Plan Administrator to approve Payments shall not begin until the Plan Administrator has approved: the Distribution, and the claim for payment, and the Payout Option as satisfying the provisions of the Plan. 18.4 Payout Option The election of a Payout Option by a Participant or a Beneficiary must be made no later than thirty (30) days before the commencement of such benefits. Subject to restrictions established by the Administrator, the Plan shall permit payout options in the form of lump sums, periodic payments of a fixed amount or fixed duration, or life contingent annuities. Absent such election, the Account will be paid in a lump sum. 18.5 Payor may rely on apparent entitlement The Employer and the Plan Administrator and the Master Trustee and the Issuer and the Agent [a "payor"] is not liable for having made a payment under an unclear Beneficiary designation or Participation Agreement to a person not entitled to the payment, or for having taken or omitted any other action in good faith reliance on a person's apparent entitlement under the Plan, before the payor actually received written notice of a claimed lack of entitlement under this Plan. Any payor of any Distribution is not liable for having made a payment or having transferred an item of property to a beneficiary designated in a beneficiary designation (or in a similar writing reasonably believed to constitute a beneficiary designation) who is not entitled to the Distribution, or for having taken any other action in good faith reliance on the beneficiary's apparent entitlement under the terms of the beneficiary designation before the payor received written actual notice alleging that the beneficiary was not entitled to the Distribution. 18.6 Instruction to Issuer Any Distribution is payable by or on behalf of the Master Trustee or Issuer only upon the Master Trustee's or Issuer's receipt in good order of the Plan Administrator's approval of the Distributee's claim. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 47 08/1612001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan Except to the extent otherwise expressly provided by the Investment(s), any payment or Payout Option shall be determined as of the Valuation Date requested by the Participant or Beneficiary, or if later, as of the Valuation Date that next follows the Issuer's or Master Trustee's receipt in good order (within the meaning of the Investment(s) or applicable law) of the approved claim. 18.7 Delay of payment The Plan Administrator, in its sole discretion, may delay payment of an approved Distribution: • to receive any necessary information, • to permit a valuation of the Account, • to permit any necessary or appropriate liquidation of assets, • if a dispute arises as to the proper payee (refer to Provision 18.8 below), • if the Plan Administrator has notice of a domestic relations case or petition that may involve the applicable Account, • if the Plan Administrator has notice of a bankruptcy case or petition that may involve the applicable Account, • if the Plan Administrator has notice of any legal proceeding or petition that may involve the applicable Account, or • for any reason described elsewhere in this Plan, or • for any other lawful purpose. Without limiting the comprehensive effect of the above, to the extent that any Distribution requires a redemption or transfer of Fund shares, the Plan Administrator shall delay the Distribution during any period: when the NYSE is closed other than for a weekend or a holiday, or when trading on the NYSE is restricted (as determined by the SEC), or when an emergency exists making disposal of a Fund's securities or valuation of a Fund's net assets not reasonably practicable, or when the SEC has required or permitted the suspension of redemptions or transfers by order, or during any period otherwise described by § 22(e)(1)- (3) of the Investment Company Act of 1940, as amended [15 U.S.C. § 80a -22(e)(1)-(3)]. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 48 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan Also, the Plan Administrator may delay any Distribution if doing so is necessary or appropriate to avoid exceeding a Fund's "large transaction amount" requirement that applies to the Master Trust. If the Participant received an allocation of Employer Contributions for a period that included his or her absence under a federal or state Family and Medical Leave Act, the Plan Administrator shall delay payment of any Distribution until the Plan Administrator is satisfied that the Participant has returned to work from such absence or that the Participant will not or did not return to work from such absence. 18.8 Dispute as to proper recipient If a dispute arises as to the proper recipient of any payment(s) under the Plan, the Plan Administrator, in its sole discretion, may instruct the Issuer(s) to withhold payment until the dispute is determined by a court of competent jurisdiction or is settled by the parties concerned. 18.9 Doubt as to proper payee If the Plan Administrator determines that there is doubt as to the proper construction of the Plan with respect to determining the Beneficiary(s) or other proper payee(s) under the Plan, the Plan Administrator shall construe the Plan to state provisions consistent with the Uniform Probate Code applied as though the interest under the Plan were an interest to a commercial annuity contract, to the extent that any such construction is not inconsistent with any requirement of IRC § 457(b). 18.10 Distribution to minor Beneficiary If a Distribution is to be made to a minor Beneficiary, any payment(s) may, except to the extent prohibited by applicable law, be paid to a responsible person according to the following order: • as instructed by an appropriate court, • to the duly appointed and currently acting guardian or conservator of the Beneficiary, • to the custodial parent of the Beneficiary, • to a responsible adult with whom the Beneficiary maintains his or her residence, • to a responsible adult who is a relative of the Beneficiary, Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 49 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan • to a custodian for the Beneficiary under the Uniform Transfers to Minors Act or Uniform Gifts to Minors Act, • to the court having jurisdiction over the estate of the Beneficiary, • to any person determined by the Plan Administrator to be a proper recipient for the Beneficiary. This payment shall be in full satisfaction of all claims. The Plan Administrator has no duty to supervise or inquire into the application of any amount(s) so paid. If at the time a Distribution begins the Beneficiary is a minor and the Plan Administrator begins payments to another person under this Provision, the Plan Administrator may continue all payments under the Distribution to the other person notwithstanding that the Beneficiary may have attained full age, unless the Beneficiary files a written claim according to all of the requirements of the Plan, including furnishing satisfactory evidence that he or she is of full age. 18.11 Distribution to incompetent Participant or Beneficiary If a Distribution is to be made to a Participant or Beneficiary that the Plan Administrator finds to be unable to manage property effectively for any reason including (but not limited to) mental illness, mental deficiency, physical illness, physical disability, chronic use of drugs, chronic intoxication, confinement, detention by a foreign power, or disappearance, any payment may be paid according to the terms of the applicable Investment(s) (if any) or according to applicable Investment Law (if any), or the Plan Administrator may direct payment(s) according to the following order: • as instructed by an appropriate court, • to the duly appointed and currently acting legal guardian of the estate of the Participant or Beneficiary, • to the duly appointed and currently acting conservator of the Participant or Beneficiary, • to the duly appointed and currently acting attorney-in-fact under a durable power-of- attorney if the Plan Administrator finds that the power-of-attorney provides sufficient power to authorize the attorney-in-fact to receive the Vested Account balance, Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 50 08/1612001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan • to a responsible adult with whom the Participant or Beneficiary maintains his or her residence, • to a responsible adult who is a relative of the Participant or Beneficiary, • to any person determined by the Plan Administrator to be a proper recipient for the Participant or Beneficiary, • to the court having jurisdiction over the estate of the Participant or Beneficiary. This payment shall be in full satisfaction of all claims. The Plan Administrator has no duty to supervise or inquire into the application of any amount(s) so paid. If at the time a Distribution begins the Participant or Beneficiary is an incompetent or incapacitated (as described above) and the Plan Administrator begins payments to another person under this Provision, the Plan Administrator may continue all payments under the Distribution to the other person notwithstanding that the Participant or Beneficiary may have become competent or may have been adjudicated as competent, unless the Participant or Beneficiary files a written claim according to all of the requirements of the Plan, including furnishing a satisfactory court order that he or she is competent to manage his or her Vested Account balance. 18.12 Inability to locate payee If, at a time when a Distribution is required to be paid, any Distribution cannot be paid because the payee cannot be located upon reasonable efforts [including services available from the IRS under Rev. Proc. 94-22 and services available from the Social Security Administration], the Plan Administrator may (but is not required to) direct each Issuer or the Agent to pay the Vested Account balance into an interest-bearing FDIC -insured bank account opened in the payee's name, Taxpayer Identifying Number, and then -current address of record according to the Plan; and such deposit shall discharge the Employer's obligation to pay the Vested Account balance. 18.13 Payment to Personal Representative Any payment (or delivery of property) to the duly appointed Personal Representative of the Participant shall, to the extent of the payment (or delivery of property), bar recovery by any other person or entity, including every Beneficiary, and shall, to the extent of the payment (or delivery of property), discharge any obligation under the Plan. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 51 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 18.14 Disclaimer by Beneficiary Any Beneficiary may renounce or disclaim all or any part of any Vested Account balance by filing a written irrevocable disclaimer not later than 31 days before the Distribution begins or any payment is otherwise to be made and before acceptance of any Vested Account balance. An acceptance may be express or may be inferred from actions or facts and circumstances, including (but not limited to) those actions described in the Uniform Probate Code as establishing an inference of acceptance. In addition to any requirements under State law, the disclaimer is not effective unless the disclaimer describes the Vested Account balance renounced, expressly declares the renunciation and the extent of it, expressly states the Beneficiary's belief upon reasonably diligent examination that no creditor of the Beneficiary (or, if the Beneficiary is an executor or trustee or guardian or other fiduciary, of any current or reasonably anticipated beneficiary of the estate or trustee or guardianship or other fiduciary relationship or entity) would be adversely affect by the disclaimer, expressly states that the disclaimer is irrevocable, is signed by the Beneficiary, meets all requirements of IRC § 2518 such that the disclaimer would be treated as effective for federal gift and estate tax purposes, and otherwise is made in a form that is acceptable to the Plan Administrator. Notwithstanding any State law that would permit otherwise, if the Beneficiary is a minor or an incapacitated person, any disclaimer cannot have any effect regarding the Plan until the court having jurisdiction of the minor's or incapacitated person's estate authorizes the disclaimer after finding that it is advisable and will not materially prejudice the rights of any interested person. Any Vested Account balance disclaimed shall be payable as if the Beneficiary who submitted the disclaimer died before the Participant. 18.15 Receipt and release Any Distribution or payment or any agreement to make a payment(s), or any transfer of Vested Account balance to another eligible Vested Account balance plan, shall, to the extent of the Distribution or payment(s) or the agreement, be in full satisfaction of all claims. The Plan Administrator, in its sole discretion, may require any Distributee or payee, as a condition precedent to making or causing to be made any payment(s) or agreement, to execute a receipt and release. 19. PLAN ADMINISTRATOR 19.1 Plan Administrator has full authority The Plan Administrator has full and complete authority and discretion to control and manage the operation of and shall decide all matters under the Plan. The Plan Administrator has any and all powers as may be necessary or advisable to discharge its Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 52 081t6/200t Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan duties under the Plan, and has complete discretionary authority to decide all matters and questions under the Plan. 19.2 Plan Administrator must decide all matters The Plan Administrator must decide all matters under the Plan. The discretionary decisions of the Plan Administrator are final, binding, and conclusive on all interested persons for all purposes. Notwithstanding any statement to the contrary in any collective bargaining agreement, any determination under or arising out of the Plan is not subject to any arbitration procedure of any kind, and the Plan Administrator's decision is final. Without limiting the comprehensive effect of the above, the Plan Administrator's discretionary decisions may include, but shall not be limited to, any decision as to: whether a natural person is an Employee, whether an Employee belongs to a particular employment classification, whether an Employee is an eligible Employee, the amount of a Participant's Compensation, the amount of Contributions to be made, whether an amount of Contributions exceeds the limits prescribed by the Plan, whether a court order shall be recognized, whether a Participant (or any other person) has established the presence or absence of a Spouse, whether a Payout Option is an Annuity Payout Option, whether a Participant has incurred a hardship, whether a Participant has a Severance -from - employment, whether a Beneficiary Designation is valid or effective, who is the proper Beneficiary, whether a Participant or Beneficiary is a minor or is of full age, whether a Participant or Beneficiary is an incompetent, the person who is a proper recipient for a Participant or Beneficiary who is a minor or an incompetent, whether any power-of-attorney is effective and acceptable to act with respect to the Plan, whether a Signature Guarantee is required, whether a Signature Guarantee is acceptable for any purpose under the Plan. 19.3 Determinations to be uniformly made To the extent required by the Enabling Statute, any determination or decision required or permitted to be made for the purposes of the Plan by the Plan Administrator shall be uniformly and consistently made according to reasonable procedures established and maintained by the Plan Administrator. 19.4 Plan Administrator is responsible The Plan Administrator is responsible for performing all duties required for the operation of the Plan, and is responsible for supervising the performance of every other person that may assist in the performance of the Plan Administrator's responsibilities. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 53 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 19.5 Information from Employer To enable the Plan Administrator to perform its responsibilities, the Employer(s) shall promptly provide to the Plan Administrator complete and accurate information on any matter that is required by the Plan Administrator in order to make any decision or determination under the Plan. The Plan Administrator shall rely upon this information as supplied by the Employer, and shall have no duty or responsibility to verify this information. 19.6 Plan Administrator may delegate or contract Except as prohibited by the Enabling Statute or other State law, the Plan Administrator may, except when expressly prohibited by this Plan, delegate any of its duties to any Employer, or to any officers, employees, or agents of any kind. Except as prohibited by the Enabling Statute or other State law, the Plan Administrator may, except when expressly prohibited by this Plan, contract any of its duties to the Agent, a Service Provider, or otherwise. 19.7 Plan services The Plan Administrator may contract with any person to provide services to assist in the administration of the Plan. The Plan Administrator must make such contracts in compliance with the Enabling Statute and other applicable State law. Any person other than the Plan Administrator who performs services regarding the Plan (including but not limited to the Agent) is subject to the supervision and direction of the Plan Administrator, and does not have authority to control the operation of the Plan. Any person other than the Plan Administrator who performs services regarding the Plan (including but not limited to the Agent) is entitled to rely upon any direction, instruction, information, or action (or failure to act) of the Plan Administrator as being proper under this Plan, and is not required to inquire into the propriety or correctness of any such direction, instruction, information, or action. 19.8 Plan Administrator official may not decide personal benefit An individual shall recuse himself or herself from and shall take no part in any Plan Administrator determination or decision specifically relating to his or her own participation or Benefit, unless his or her abstention would render the Plan Administrator committee or organization incapable of acting on the matter. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 54 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 20. GENERAL PROVISIONS 20.1 Anti -alienation In addition to (and not by limitation upon) the provisions of the Plan and any provision of applicable law, any benefit or interest available under the Plan, or any right to receive or instruct payments under the Plan, or any Distribution or payment made under the Plan shall not be subject to assignment, alienation, garnishment, attachment, transfer, anticipation, sale, mortgage, pledge, hypothecation, commutation, execution, or levy, whether by the voluntary or involuntary act of any interested person under the Plan, except for an interest which becomes payable pursuant to a Qualified Domestic Relations Order (or a domestic relations order that was entered before January 1, 1985). However, the preceding sentence shall not be construed to preclude the payment of any Fees or expenses (including taxes) of the Issuer(s) or the Master Trust. 20.2 Audit The Plan Administrator may engage a public accountant to audit or review the financial statements of an internal control procedures with respect to the Plan, and any fees paid or incurred for such audit or review and related accounting and auditing services shall be an expense charged to all Participants' Accounts in an equitable manner determined by the Plan Administrator. 20.3 Claims procedure By the terms of the Plan, the claimant (or other aggrieved person) shall not be entitled to take any legal action (including but not limited to instituting any arbitration procedure) or otherwise seek to enforce a claim to benefits or rights under the Plan until he or she or it has exhausted all claims and appeals procedures provided by the Plan. In considering claims under the Plan, the Plan Administrator has full power and discretionary authority to construe and interpret the provisions of the Plan, and of any law governing or applying to or relating to the Plan. Notwithstanding any statement to the contrary in any collective bargaining agreement, any determination under or arising out of the Plan is not subject to any arbitration procedure of any kind. 20.4 Exclusive benefit The Plan is established for the exclusive benefit of the Participants and their Beneficiaries. Except as otherwise provided by the Plan, or otherwise permitted by IRC § 401(a)(2), no amounts held under the Plan shall ever inure to the benefit of the Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 55 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan Employer or any successor. All amounts held under the Plan shall be held for the exclusive purpose of providing Benefits to the Plan's Participants and their Beneficiaries. 20.5 Expenses Upon the Plan Administrator's written instruction, the Plan Administrator (or any party acting for it) shall be reimbursed from the Plan assets for any reasonable expense (including attorneys' or counsel fees) incurred in performing services with respect to the Plan. Except as otherwise provided or permitted by the Plan, the reimbursement shall be effected by deducting a charge against all Accounts according to an equitable method determined by the Plan Administrator. If the Internal Revenue Service [IRS] determines, and the determination is not contested, or if contested, is finally upheld (or otherwise finally determined), or if a final court order (that is not appealed) decides that any payment of expenses is a violation of IRC § 401(a)(2), the Master Trustee shall pay full restoration into the Plan to the extent of the improperly paid expense (including fair interest from the date the expense was improperly paid to the date that restoration is made). The Plan Administrator must enforce payment of this restitution. 20.6 Fiduciary responsibility The Master Trustee (if any) shall act solely according to the provisions of the Master Trust Agreement, and the Master Trustee has no duty of any kind to read or have any knowledge of the Plan 20.7 Governing law The Plan, and actions under or with respect to the Plan, and the statute of limitations for such actions (refer to Provision 20.24 [statute of limitations]) shall be governed by and enforced by the laws of the State of Florida and shall be construed, to the extent that any construction beyond the written provisions of the Plan (including Part 23 [construction]) is necessary, according to the laws of the State of Florida. 20.8 Levy Notwithstanding any other provision of the Plan, the Plan Administrator may pay to the IRS from a Participant's (or Beneficiary's) Account the amount(s) that the Plan Administrator determines is demanded under a levy issued by the IRS with respect to that Participant (or Beneficiary) or is sought to be collected by the United States under a judgment resulting from an unpaid tax assessment against the Participant (or Beneficiary). Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 56 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 20.9 Litigation If the Participant or a Beneficiary or the Participant's Spouse (or putative spouse) or any other person claiming through the Participant or a Beneficiary brings any kind of legal action or proceeding regarding the Plan against the Plan Sponsor or any Participating Employer or the Plan Administrator or any Agent or any Service Provider or the Master Trustee, or any shareholder or member, any director or trustee, officer, employee, or agent of any of them [each an "indemnified party"] may be a parry is brought by a Participant or Beneficiary or Spouse or by a person or entity claiming through a Participant or Beneficiary or Spouse, and the legal action or proceeding is resolved in favor of the indemnified party, each party participating in or contributing to the defense of the legal action or proceeding shall be entitled to be reimbursed from the Participant's Account for any and all actual fees of lawyers and legal assistants and other expenses reasonably paid or incurred in the defense of the legal action or proceeding. If the amount(s) of the litigation expense is greater than the amount of the Participant's Account, the full Account must be paid to the indemnified party(s), and any obligation to that Participant and his or her Beneficiary(s) is then completely discharged. If there is more than one indemnified party entitled to a reimbursement of litigation expense and the total amounts of litigation expense are greater than the amount of the Participant's Account, each indemnified party shall be paid a pro rata portion of the Participant's total Account, and each portion shall be determined by applying to the Participant's Account the percentage that is the ratio of the indemnified party's litigation expense to the litigation expense of all indemnified parties. However, nothing in this Provision shall diminish or impair any indemnified parry's claim at law or in equity for further indemnification or contribution from the Participant (or Beneficiary). 20.10 Mistaken contributions If any Contribution (or any portion of a Contribution) is made by the Employer by a good faith mistake of fact, upon receipt in good order (within the meaning of the Investment(s) or applicable law) of a proper request by the Plan Administrator or by the Participant to the extent required or permitted by the Investment(s), the Master Trustee or the Issuer(s) shall cause the, to the extent permitted by the Investment(s), return the amount of the mistaken Contribution(s), except as limited below, to the Employer. The Participant's exercise of a "free look" or right-to-retum or similar cancellation provision under applicable Investment Law is deemed to cause a Contribution to be by a good faith mistake of fact. A return of a mistaken Contribution shall not be demanded or made if the return will not be made within 1 year from the date of the mistaken payment of the Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 57 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan Contribution. Upon any return of a mistaken Contribution, earnings attributable to the mistaken Contribution shall not be returned and losses attributable to the mistaken Contribution shall reduce the amount to be returned. If the return of any amount of mistaken Contribution would cause the Participant's Account balance to be reduced to less than the Account balance would be if the mistaken Contribution had not been contributed, then the amount to be returned to the Employer shall be limited to the extent needed so that any such reduction of the Participant's Account balance shall not occur. 20.11 Necessary information The Participant (or Beneficiary) shall provide upon any request of the Plan Administrator or of the Agent or of the Master Trustee or any Issuer any information that may be needed for the proper and lawful operation and administration of the Plan; including but not limited to, his or her or its full legal name, his or her or its Social Security Number [SSN] or other Taxpayer Identification Number [TIN], his or her or its current address and the current address of his or her or its Spouse and of any Beneficiary(s), evidence of his or her age, evidence of his or her marital status. The Participant shall promptly respond to and fully answer any reasonable inquiry related to these purposes. A failure to provide any information described above or which otherwise may be necessary or appropriate for the lawful operation of the Plan may result in a delay of eligibility for participation, in a delay of the payment of Contributions, or in a delay or refusal by the Plan Administrator, in its discretion, to authorize or permit any payment to be made. The Plan Administrator (and any parry acting for it) shall have the right to rely on any information or representation given by any Participant or Beneficiary or other party interested in the Plan. The Plan Administrator shall have no duty to inquire into the accuracy or adequacy or truth of any such information or representation. Any such representation shall be binding upon any party seeking to claim a Benefit through the Participant. 20.12 No contract of employment Under no circumstances shall the Plan constitute or modify a contract of employment or in any way obligate the Employer to continue the services of any Employee. 20.13 No right other than provided by Plan The establishment of the Plan and the purchase of any Investment(s) under the Plan shall not be construed as giving to any Participant or Beneficiary or any other person any legal or equitable right against the Employer or the Plan Sponsor or the Plan Administrator or their representatives, except as is expressly provided by the Plan. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 58 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 20.14 Notices Each Participant or Beneficiary shall be responsible for furnishing the Plan Administrator (and the Agent and the applicable Issuer(s)) with his or her or its current address at all times. Any notice required or permitted to be given under the Plan shall be deemed given if directed to the proper person at the current address in any Plan (or Investment) record and mailed or otherwise delivered to that address. This Provision shall be construed and applied consistently. This Provision shall not be construed to require the mailing or delivery of any notice otherwise permitted to be given by posting or by publication. 20.15 Plan is binding The Plan, and all acts and decisions taken under it, is binding and conclusive, for all purposes, upon all interested persons, and upon the heirs, executors, administrators, successors and assigns of any and all such persons. The Plan shall not affect contracts or other dealings with a person who is not an interested person, unless a written agreement executed by that person expressly so provides. 20.16 Power-of-attorney A power-of-attorney cannot be effective to permit the attorney-in-fact to submit any claim or to give any instruction or direction or consent under the Plan unless the Plan Administrator determines that the power-of-attorney is acceptable. The Plan Administrator shall not accept a power-of-attorney until the Plan Administrator determines that the power-of-attorney appears on its face to have been made in a form and manner that is legally enforceable under applicable law, to indemnify the Plan Administrator and every person who may rely on the power-of-attorney against any liability that may arise out of the Plan Administrator's acceptance of the power-of- attorney, to expressly refer to this Plan and unambiguously provide one or more powers to act regarding this Plan, to meet any further requirements stated below in this Provision or otherwise under the Plan, and to meet any other requirements requested by the Plan Administrator. Without limiting the comprehensive effect of the above, any power-of-attorney, including even a general power-of-attorney, cannot be effective to submit any claim or to give any instruction or direction or consent under the Plan unless the document, in the Plan Administrator's sole opinion, expressly grants power to act regarding this Plan and refers to this Plan with sufficient clarity so that the Plan Administrator determines that there is no confusion or ambiguity concerning whether an express power to act regarding this Plan was intended. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 59 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan Without limiting the comprehensive effect of the above, any power-of-attorney, including even a general power-of-attorney, cannot be effective to exercise any right or privilege of investment direction under the Plan unless the document, in the sole opinion of the person that is requested to give effect to an investment instruction, expressly grants power to act regarding investment direction under this Plan and expresses the principal's (Participant's or Beneficiary's or Alternate Payee's) knowledge as to whether the attorney-in-fact is or is not a Registered Investment Adviser and refers to this Plan with sufficient clarity so that the Issuer determines that there is no confusion or ambiguity concerning whether an express power to act regarding investment direction under this Plan was intended. For the purpose of the preceding sentence, an investment advisory agreement that conforms to the requirements of the federal Investment Advisers Act of 1940, as amended, is deemed to constitute an acceptable power-of-attorney if it refers to the Plan or to the Investment held for the Participant's Plan Account. 20.17 Protection of Issuers Any Issuer shall not be liable or imprudent in acting according to any direction, if in writing or otherwise reasonably believed to be genuine, of its contract owner or the Plan Administrator or any other authorized person, and shall not be required to question (unless otherwise provided by the applicable Investment) any action so directed by any of them. However, the Issuer shall not be required to take or permit any action or allow any benefit or privilege contrary to the provisions of any Investment. 20.18 Release Any payment or any agreement to make payments under a Payout Option selected by the proper payee, shall, to the extent of the payment(s) or agreement, be in full satisfaction of all claims. The Plan Administrator may require any person, as a condition precedent to making or causing to be made any payment, or agreement for a Payout Option, to execute a receipt and release. If a dispute arises as to the proper payee of any payment(s), the Plan Administrator, in its sole discretion, may withhold or cause to be withheld any payment(s) until the dispute shall have been determined by a court of competent jurisdiction or shall have been settled by all the parties concerned. 20.19 Service of legal process Requests for information, claims or demands, legal process, and court orders are properly made when addressed to the Plan Administrator at the address stated in the Adoption Agreement. 20.20 Severability If a court finds that any provision of the Plan is invalid, that holding shall not affect the remaining provisions of the Plan which shall be construed and enforced as if the invalid Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 60 08/1612001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan provision had not been included in the Plan, unless such a construction of the Plan would be clearly contrary to the intent of the Plan. 20.21 Signature If a Participant or Beneficiary (or other person claiming through a Participant or Beneficiary) must submit any writing of any kind required or permitted under the Plan, the maker's signature must be complete and formal. However, if a Participant or Beneficiary has a disability that precludes him or her from making a complete and formal signature, a writing is signed if it bears or includes or incorporates any symbol executed or adopted by the maker with a present intention to authenticate the writing, or it is otherwise demonstrated to the satisfaction of the Plan Administrator that the maker had (at the relevant time) a present intention to adopt the writing. 20.22 Signature and broad acceptance of writings An instruction (but not a claim for any kind of Distribution) is considered to be written or in writing and signed according to the following broad provisions, except as otherwise specified by a uniform written procedure adopted by the Plan Administrator. "Written" or "writing" or "in writing" includes any intentional reduction to tangible form. Without limiting the comprehensive effect of the first sentence of this paragraph, any of the following is a writing and all of the following rules of construction apply in determining what is a writing and who made the writing. "Written" or "writing" or "in writing" includes handwriting, typewriting, printing. "Writing" includes any copy or reproduction, including (but not limited to) a photocopy, of an original writing. "Writing" includes a telefacsimile transmission. "Writing" includes a videotape or audiotape recording, including a recording of a telephone conversation; and a person's commencement or continuation of a conversation after the person is informed that the conversation is or may be recorded shall be deemed such person's intent to reduce the conversation to writing. Anything that is the subject of a written confirmation is deemed to be in writing. "Writing" or "written" includes anything that is recognized as such by the Restatement of Contracts or the Uniform Commercial Code as then -currently published or adopted by the American Law Institute or the National Conference of Commissioners on Uniform State Laws. "Writing" or "written" includes anything that is recognized as such under § 2(9) of the federal Securities Act of 1933, as amended [15 U.S.C. § 77b(9)] or any rule or regulation thereunder. A writing made by a person who appears to be an agent or attorney-in-fact is the writing of the apparent principal, unless the Plan Administrator has actual knowledge that no agency exists. The Plan Administrator in its sole discretion may construe any writing(s), and may combine separate writings, including writings that are not contemporaneous, so as to establish one integrated writing or instruction. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 61 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan "Signed" or "signature" includes any symbol executed or adopted by a person with present intention to authenticate a writing. Without limiting the comprehensive effect of the first sentence of this paragraph, any of the following is a signature and all of the following rules of construction apply in determining what is a signature and who signed. Authentication may be handwritten, typed, printed, stamped, or otherwise written. A signature need not consist of the person's legal name. A signature need not consist of the person's entire name. A signature may be on any part of a writing (except as expressly limited below). A person who fills -out a form in his or her own handwriting or typewriting has signed that form or writing. Anything that is the subject of a written confirmation is deemed to be signed if the recipient of the confirmation does not promptly object to the confirmation. For a conversation, a person's use of his or her voice is a signature. For a conversation, a person's compliance with the authentication procedure specified by the Plan Administrator or its agent is a signature. "Signed" or "signature" includes anything that is recognized as such for any purposes by the Restatement of Contracts or the Uniform Commercial Code as then -currently published or adopted by the American Law Institute or the National Conference of Commissioners on Uniform State Laws. A signature need not be contemporaneous to the writing that it authenticates. A signature made by a person who appears to be an agent or attorney-in- fact is the signature of the apparent principal, unless the Plan Administrator has actual knowledge that no agency exists. A writing that includes a forgery at the place where a signature customarily would be made is not signed by any person other than the forger. Upon receiving anything that appears to be a writing, or anything that appears to be a signature or signed, the Plan Administrator shall not be liable or responsible to anyone to the extent that it acted without actual knowledge that the writing was false or that the signature was a forgery. 20.23 Signature Guarantee In addition to (and not by limitation of) any other provision of the Plan, for any claim or instruction of any kind the Plan Administrator may require the person submitting the claim or instruction to include on the written claim or instruction a Signature Guarantee when required under a uniform written procedure of the Plan Administrator. 20.24 Statute of limitations As to any action at law or in equity under or with respect to this Plan, the action shall be governed by (or precluded by) the relevant statute of limitations for actions upon a written contract according to the internal laws (without regard to the law of conflicts) of the State of Florida. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 62 03/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 20.25 Unemployment compensation For the purposes of any unemployment compensation law, a Distribution in one sum or as installments for a period of not more than one year, to the extent attributable to Employer Contributions, is deemed a severance payment and shall be so allocated (for the purposes of the applicable unemployment compensation law) over a period of weeks equal to the amount of the Distribution divided by the Participant's regular weekly pay before the Severance -from -employment with this period beginning on the first week that begins after the Severance -from -employment. 20.26 Uniformity To the extent required by applicable State law, provisions of the Plan shall be construed and applied in a uniform or non-discriminatory manner. 20.27 Venue If any Participant or Beneficiary (or any person claiming through a Participant or Beneficiary) brings a suit against the Plan Administrator, the plaintiff or claimant hereby submits to venue in the courts sitting in Leon County, Florida or in which the Plan Administrator has its principal place of business. 21. AMENDMENT 21.1 Plan Sponsor's right to amend the Plan The Plan Sponsor has the right to amend the Plan at any time. Any Participating Employer has the right to discontinue the Plan at any time, except as otherwise expressly provided by a collective bargaining agreement that is enforceable under 29 U.S.C. § 151 et seq. [the National Labor Relations Act]. Any amendment of the Plan has no effect on the Master Trust Agreement. 21.2 Amendment can't change exclusive benefit Any amendment or termination of the Plan shall not be effective to the extent that the amendment has the effect of causing any Plan assets to be diverted to or inure to the benefit of the Plan Sponsor or any Employer, or to be used for any purpose other than providing Benefits to Participants and Beneficiaries and defraying reasonable expenses of administering the Plan. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 63 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 21.3 Retroactive effect Any amendment of the Plan may be given immediate or retroactive effect to the extent determined by the Plan Administrator; provided that such immediate or retroactive effect is permitted under the Code. 22. TERMINATION 22.1 Plan Termination by Participating Employer A Participating Employer may terminate it participation in the Plan, including but not limited to, its contribution requirements, if it takes the following actions: a) The Governing Authority of the Participating Employer must adopt a resolution terminating its participation in the plan. b) The resolution must specify when the Plan will be closed to any additional participation by Eligible Employees, which must be a date at least sixty (60) days after the adoption of the resolution. C) The resolution must be submitted to the Master Trustee, or it's designee. The Master Trustee, or it's designee, shall determine whether the resolution complies with this section, and all applicable federal and state laws, and shall determine an appropriate effective date for the termination of Employer participation, which shall be no later than twelve (12) months from the Master Trustee's receipt of the resolution. The Administrator shall provide appropriate forms to the Participating Employer to terminate ongoing participation. Distributions under the Plan of existing accounts to the Participants and Beneficiaries affected by the termination are subject to the distribution provisions in this document. However, if the Participating Employer requests a plan -to - plan transfer of Plan assets with respect to the Participating Employer's Employees who are Participants, the Master Trustee may in it's discretion make the transfer. 22.2 Discontinuance of Contributions At the discretion of the Master Trustee, a Participating Employer who fails to make contributions for a period of one (1)'year or who fails to make timely contributions over a period of one (1) year shall be considered to have terminated participation in the Plan. 22.3 Effect of Termination by Participating Employer Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 64 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan In the case of the complete or partial termination of the Plan as to one (1) or more Participating Employers, including a termination arising from the discontinuance and/or delinquency of contributions, the affected portion of the Master Trust shall continue to be held pursuant to the direction of the Master Trustee, for the benefit of affected Participants pursuant to the benefit provisions of this Plan. The Plan shall remain in full effect with respect to each Participating Employer that does not terminate its participation in the Plan on behalf of its Employees, or whose participation is not terminated by the Master Trustee. 22.4 Termination of Entire Plan This Plan in its entirety may be terminated at any time by official action of the Master Trustee, with notice to all Participating Employers and Participants. The last date for contributions and earnings to be credited to Participants Accounts must be specified in the Master Trustee's official action and must be no sooner than ninety (90) days after the adoption of the official action. All actions associated with the termination of the Plan, including a final accounting, must be completed within twelve (12) months after the adoption of official action. In the event of a complete Plan termination, the Master Trustee must take all steps reasonable to avoid a distribution to the Participants and Beneficiaries, except pursuant to benefit options under the provisions of this Plan, including identifying successor plan(s). However, if distributions must be made, the Administrator shall be responsible for directing distribution of all assets of the Master Trust to Participants and Beneficiaries. 23. CONSTRUCTION 23.1 Construction The provisions of this Part govern the construction or interpretation of this Plan. These rules of construction and interpretation shall apply for all provisions, and shall supersede any other construction or interpretation rules. 23.2 Construction as a qualified plan The Plan is established and maintained with the intent that the Plan always be a qualified plan within the meaning of IRC § 401(a) and conform to the Internal Revenue Code's requirements for treatment or recognition as such a plan. Therefore, the provisions of the Plan shall be interpreted whenever possible to state provisions that conform to the applicable requirements of the Internal Revenue Code. When the Internal Revenue Code is amended or interpreted through subsequent legislation or regulations or other guidance Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 65 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan of general applicability, the Plan should be construed as stating provisions consistent with such amendment or interpretation of the applicable law. 23.3 Construction with Enabling Statute The Plan is established and maintained with the intent that the Plan conform to the applicable requirements of the Enabling Statute. The provisions of the Plan shall be interpreted whenever possible to state provisions that conform to the applicable requirements of the Enabling Statute. When the Enabling Statute is amended or interpreted through subsequent legislation or regulations, the Plan should be construed as stating provisions consistent with such amendment or interpretation of the applicable law. 23.4 Construction of statutes and regulations Any reference to a Section of the Internal Revenue Code shall be construed to also refer to any successor provision. Any reference to a Section of Treasury Regulations shall be construed to also refer to any successor provision of such Regulations. Any reference to a Revenue Ruling or Revenue Procedure or IRS Notice or IRS Announcement shall be construed to also refer to any guidance of general applicability that extends, amplifies, or modifies the Revenue Ruling or Revenue Procedure or IRS Notice or IRS Announcement. The Plan refers to relevant regulations, including (but not limited to) Treasury regulations under the Internal Revenue Code, without regard to whether the regulations are substantive or interpretive and without regard to whether the regulations are proposed or temporary or final; but it is intended that any provision that refers to a regulation shall be construed to refer to the regulation in the sense of the appropriate legal effect (under administrative procedure law and otherwise) that the regulation currently has at the time the construction is made. To the extent that a provision states a duty owed to any government (rather than a duty to a Participant or Beneficiary or other person or entity having an interest under the Plan), the provision shall be construed as directory and shall be enforced only by the government. However, a provision that is necessary for the Plan to meet the requirements of a qualified plan within the meaning of IRC § 401(a) includes a duty owed to Participants and Beneficiaries and is not directory. To the extent that a construction or interpretation of the Plan involves a construction of a statute or regulation, the Plan Administrator may (but is not required to) construe the statute or regulation according to the Uniform Statutory Construction Act. Florida Municipal Pension Trust Fund Florida League of Cities. Inc. Page 66 08/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan 23.5 Investment Law Whenever, after applying the specific construction rules of any Definition or Provision or Part and the general construction rules stated in this Part, the Plan may be susceptible to more than one construction or interpretation, a construction or interpretation that is consistent with or that is not inconsistent with applicable Investment Law is preferred over a construction or interpretation that is inconsistent with applicable Investment Law. 23.6 Construction of words and phrases The headings and numbering of provisions in the Plan and text that is stated within brackets, excluding text in parenthesis, are included solely for convenience of reference and are not intended to limit or amplify or control the meaning or interpretation or construction of any provision of this Plan. The phrase "under the Plan" or "under this Plan" refers to the entire Plan (and the Master Trust Agreement) as a whole and not merely to any part of any document or Provision in which the phrase appears. Any reference to a Part of the Plan refers to the whole Part. Any reference to a Definition or Provision of the Plan refers to the whole Definition or Provision, unless the reference specifies a particular portion or paragraph of the Provision. The singular shall be construed to include the plural, unless the context clearly indicates otherwise. The words "as" or "if' shall be construed to mean the phrase, "to the extent that", as appropriate in the context. Any reference to the Plan Administrator shall be construed to refer also to the Agent and the Issuer(s) and any other party acting for or at the instruction of the Plan Administrator. Unless the provision states otherwise, any reference to a person or party shall be construed to refer also to any non -natural person or any entity (including but not limited to, any trust or estate). To the extent that a provision states a duty owed to any government (rather than a duty to a Participant or Beneficiary or other person or entity having an interest under the Plan), the provision shall be construed as directory and shall be enforced only by the government. Any reference to a corporation or similar organization shall be construed to include any successor to the corporation or similar organization. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 67 08/L6/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan All provisions of the Master Trust Agreement that do not conflict with the Plan are incorporated by reference and are a part of the Plan as if fully set forth by this document. All provisions of a prospectus and statement of additional information or statement of operation of a Fund that do not conflict with the Plan are incorporated by reference and are a part of the Plan as if fully set forth by this document. If any provision concerning a benefit under the Plan is ambiguous, a construction or interpretation of the provision that would provide that such benefit is available in a non- discriminatory manner shall take precedence over a construction or interpretation that would not so provide. 23.7 Construction by reference to model laws To the extent that any construction beyond the written provisions of the Plan is necessary, the Plan shall be construed (except as otherwise provided by the Plan) according to any then -current Restatement of law published or promulgated by the American Law Institute or any then -current Uniform Act or Model Act published or recommended by the National Conference of Commissioners on Uniform State Laws. The Plan Administrator may consider a withdrawn Uniform Act or Model Act if no successor has been promulgated. Among these sources, the Plan Administrator in its sole discretion may select any order of reference and if more than one source is relevant may decide which source it considers controlling or appropriate. 23.8 USA Constitution and Florida Constitution When applying any of the preceding construction rules relating to the Internal Revenue Code or the Enabling Statute or Employment Laws or Government Contracts Laws, the Plan Administrator need not consider any statute or regulation or order to the extent that its application is contrary to the Constitution of the USA or is contrary to the Constitution of Florida ; however, the Plan Administrator may presume that any statute or regulation or order is not unconstitutional until a published controlling court decision expressly holds that such law is contrary to a Constitution. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 68 09/16/2001 Florida Municipal Pension Trust Fund 401(a) Defined Contribution Plan The Plan Document is not signed here. Your Plan is not complete without your Adoption Agreement, by which you must specify the conforming and elective provisions that you desire for your Plan. You'll sign the Adoption Agreement to show your adoption of your Plan. Florida Municipal Pension Trust Fund Florida League of Cities, Inc. Page 69 08/16/2001 Meeting Type: Regular ;Meeting Date: 09-18-01 AGENDA Heading Resolutions Item g No. I recommend approval. AGENDA REPORT CITY COUNCIL OF THE CITY OF CAPE CANAVERAL SUBJECT: RESOLUTION NO. 2001-32, DEDICATION OF A PUBLIC BEACH ACCESS EASEMENT DEPT./DIVISION: PLANNING & ZONING Requested Action: City Council consider approval of this resolution accepting a public beach access from Solana Development, Inc. and Cape Caribe, Inc. as recommended by the Planning & Zoning Board. Summary Explanation & Background: The beach access easement was a requirement of site plan approval for this project. See the attached easement agreement and location map. I recommend approval. Exhibits Attached: Resolution No. 2001-32; Easement Agreement City M gei-is Office Department PLANNING & ZONING BOARD i c �mUnydoc mefif n council\meeting\2001\09-18-01\2001-32.doc RESOLUTION NO. 2001-32 A RESOLUTION OF THE CITY OF CAPE CANAVERAL, BREVARD COUNTY, FLORIDA; DEDICATION OF A PUBLIC BEACH ACCESS EASEMENT FROM SOLANA DEVELOPMENT INC., AND CAPE CARIBE, INC.; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Solana Development, Inc., and Cape Caribe, Inc. have agreed to the dedication of a beach access easement on the subject property, lying in Section 14, Township 24 South, Range 37 East, Brevard County, Florida, being more particularly described in Exhibit A-1; and WHEREAS, the City of Cape Canaveral Planning and Zoning Board at a meeting on July 25, 2001 made the recommendation that the City Council approve the five-foot easement for general public beach access as depicted on the approved site plan. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Cape Canaveral, Florida, as follows: SECTION 1. The City hereby accepts the dedication of an easement signed by an agreement with Solana Development Inc., Cape Caribe, Inc. in the documents attached hereto as Exhibit "A", and incorporated hereby by reference. SECTION 2. This Resolution shall take effect upon adoption. ADOPTED BY the City Council of the City of Cape Canaveral, Florida, this 18th day of September, 2001. Rocky Randels, MAYOR ATTEST: FOR AGAINST Burt Bruns Susan Stills, CITY CLERK Buzz Petsos APPROVED AS TO FORM: Rocky Randels Richard Treverton Larry Weber Kohn Bennett, CITY ATTORNEY \\Cape-nt\cityclerk\CityClk\Resolutions\EASEMENT\Cape Caribe.doc STAFF REPORT Date: July 26, 2001 To: Bennett Boucher, City Manger Susan Stills, City Clerk From: Morris Reid, CBO, Building Official 41 Re: Cape Caribe - 5 ft. easement for general public beach access At the Planning & Zoning Board meeting, on July 25, 2001, the Board made the recommendation that the City Council approve the 5 ft. easement for general public beach access as depicted on the approved site plan. Please instruct the city attorney to draft a Resolution for consideration by City Council and schedule this request for a forthcoming City Council meeting. Thank you. Sep -12-01 10:33A Karl Bohne P_02 Indemnification The Grantce hereby agrees to inderTInily, defend and hold the Grantors and its successors and assigns 011e "Indemniticd Parties") handless frOM and to defend Indemnified Parties with respect to any clamis or causes of action alleged or brought against the Indemnified Parties by any third parties as a result of any injury, death or property dama.gcs or loss incurred or alleged to have been incurred by such third party as a result of tlic Grantee's failure to properly maintain the Beach Access Easement Arca. TowwReaftyhic. Hand Delivery Mr. Bennett Boucher City Manager City of Cape Canaveral 105 Polk Avenue Cape Canaveral, Florida 32920 Re: Beach Access Agreement Dear Bennett, September 13, 2001 Attached please locate 2 (two) executed originals of the Beach Access Agreement with the City of Cape Canaveral. We have made the changes to the Agreement as you requested and we discussed. Please retain one document for your files and send our executed copy to Mr. James B. Young c/o Towne Realty, Inc. 12th Floor; 710 North Plankinton Avenue, Milwaukee, WI 53203 and fax a copy to Maath Bennett at (321) 784-3644. If you have any questions please contact the undersigned. Very truly yours, 4 p Join R. Grandlich Southeast Development Manager cc: Maath Bennett with enclosure James B. Young via fax with enclosure Jim Borris without enclosure JRG/jkk 710 North Plankinton Avenue • Milwaukee Wisconsin 53203 r (414) 273-2200 Prepared by and please return to: Curtis R. Mosley, Esq. Mosley, Wallis & Whitehead, P.A. 1221 E. New Haven Avenue Melbourne, FL 32901 BEACH ACCESS EASEMENT AGREEMENT THIS BEACH ACCESS EASEMENT AGREEMENT (the "EASEMENT AGREEMENT") is made and entered into this day of , 2001, by and between SOLANA DEVELOPMENT, INC., a Florida corporation, and CAPE CARIBE, INC., a Florida corporation, both of which corporations addresses are 710 North Plankinton Avenue, Suite 1200, Milwaukee, Wisconsin 53203 (collectively the "GRANTORS"), and THE CITY OF CAPE CANAVERAL, FLORIDA, whose address is 105 Polk Avenue, Cape Canaveral, Florida 32920 (the "GRANTEE"). WITNESSETH: WHEREAS, the GRANTORS are the Owners, each of a portion of all of the lands located in Cape Canaveral, Brevard County, Florida, depicted on the attached Exhibit A sheet 1 of 2 and described on the attached Exhibit A sheet 2 of 2; and WHEREAS, the GRANTORS have agreed to grant to the GRANTEE a non-exclusive 5 -foot wide easement for purposes of allowing pedestrian access along and over the lands depicted and described on Exhibits A sheet 1 of 2 and A sheet 2 of 2 (the "BEACH ACCESS EASEMENT AREA" or "EASEMENT AREA'), which shall run along the northern boundary of other adjacent lands owned by GRANTORS (the "GRANTORS' LANDS") to and from the beach on the Atlantic Ocean; Now, THEREFORE, for good, valuable and sufficient consideration, receipt of which is acknowledged by the parties hereto, including but not limited to the covenants herein contained, it is agreed as follows: 1. Recitals as Covenants. The foregoing recitals are true and are incorporated herein by reference as covenants of this EASEMENT AGREEMENT. 2. Grant of Easement. The GRANTORS hereby give, grant, bargain and assign to the GRANTEE a permanent and perpetual non-exclusive easement for pedestrian traffic purposes for ingress and egress on foot, by bicycle or wheelchair, but not by any motorized bicycle or other vehicle, other than a motorized wheelchair, in, to, upon and over the BEACH ACCESS EASEMENT AREA to and from the beach on the Atlantic Ocean. 3. Construction Upon and Improvement of the BEACH ACCESS EASEMENT AREA. The GRANTORS will, at its sole cost, construct a pedestrian path over the BEACH ACCESS EASEMENT AREA. The path shall be constructed of concrete, except for the dune crossover which shall be constructed of wood. 4. Fencing of BEACH ACCESS EASEMENT AREA. The GRANTORS will construct fencing along all of the southern boundary of the BEACH ACCESS EASEMENT AREA. The type, material, manufacturer, style, color and size of the fencing to be erected by the GRANTORS shall be determined by the GRANTORS in their sole discretion. 5. Maintenance of Improvements. The GRANTEE shall at all times maintain in good condition and repair all improvements that the GRANTORS construct upon and along the BEACH ACCESS EASEMENT AREA. 6. GRANTORS' Rights to Peaceful Enloyment Of GRANTORS' Lands. The GRANTEE agrees at all times to exercise best efforts to insure that the public's use of the BEACH ACCESS EASEMENT AREA does not interfere with or impair in any adverse manner the use and enjoyment by the GRANTORS, their guests, invitees, successors and assigns of any of the GRANTORS' LANDS located adjacent to and south Of the BEACH ACCESS EASEMENT AREA. GRANTEE's Agreement of Indemnification. The GRANTEE hereby agrees to indemnify, defend and hold the GRANTORS and their successors and assigns (the "INDEMNIFIED PARTIES") harmless from and to defend INDEMNIFIED PARTIES with respect to any claims or causes of action alleged or brought against the INDEMNIFIED PARTIES by any third parties as a result of any injury, death or property damage or loss incurred or alleged to have been incurred by such third party as a result of the GRANTEE's failure to properly maintain the BEACH ACCESS EASEMENT AREA. Such indemnification shall include the payment of all reasonable attorneys' fees, costs and expenses, and any judgments that may be rendered against the INDEMNIFIED PARTIES. 8. Mortgage or Deed of Trust on BEACH ACCESS EASEMENT AREA. Any mortgage or deed Of trust placed on the BEACH ACCESS EASEMENT AREA by GRANTORS shall be subordinated to the easement interests of the GRANTEE herein granted by GRANTORS. The GRANTEE acknowledges and agrees that the grant of this EASEMENT AGREEMENT Is subject to any currently existing easements Or restrictions Of record on the BEACH ACCESS EASEMENT AREA. 9. Benefit. The EASEMENT AGREEMENT shall be binding upon and inure to the benefit of the parties hereto, their heirs, estates, personal representatives, trustees, successors and assigns. 10. Covenant Running with the Land. The EASEMENT AGREEMENT shall be deemed a covenant running with the land for the use and benefit of all of persons and entities described in Paragraph 9 above. IN WITNESS WHEREOF, the parties hereto have set their hands and seals as of the date first written above. SIGNED, SEALED AND DELIVERED GRANTORS: IN TIDE PRESENCE. OF: SOLANA DEVELOPMENT, INC., a Florida r w corporation Name: By: l 6 n R. Grandlich, Vice President Print ame. fL Print Name: j �vlj�A L w Prin Name: f �l Print Print Name: [J BY3385.091201: R#2 ] CAPE CARIBE, INC., a Florida corporation By: Andrew P. Jermusz, ViaePresident GRANTEE: THE CITY OF CAPE CANAVERAL By: STATE OF V\grcic. ) \ ) ss. COUNTY OF 2VC�rG1 ) The foregoing instrument was acknowledged before me this 13 day of Se em er , 2001, by John R. Grandlich, Vice President of Solana Development, Inc., a Florida corporation, on behalf of the corporation who is personally known to me TA y commission expires.- STATE xpires: STATE OF �`ot do. ) Jennifer Kay Kool \ ) SS. COUNTY OF �Vo. :.`�pYP�••.• '—°-: Commission # DD051371 � io`e ExP31ts Aug. 19, M nouaed Thru -,%oF cc, ) oe.-- Adm,tiC Banding Co., inc The foregoing instrument was acknowledged before me this \-J day of Se��ec��0er , 2001, by Andrew P. Jarmusz, Vice President of Cape Caribe, Inc., a Florida corporation, on behalf of the corporation who is personally known to ne. INQTARY My commission expires: STATE OF FLORIDA ) Jennifer Kay Kool YPB ) ss.o�Cnrn�+mon#DD 051371 COUNTY OF BREVARD ) ��a Eapues Aug. 19, zoos ;i Q - Bonded Ther OFF��.--- Admntic Bonding Ca, Inc. The foregoing instrument was acknowledged before me this day of , 2001, by , as of The City of Cape Canaveral, on behalf of the City who is personally known to me or has produced NOTARY My commission expires: SKETCH TO ACCOMPANY DESCRIPTION BEACH ACCESS EASEMENT NOT A BOUNDARY SURVEY IXHIBIT A SHEET 1 OF 2 N. LINE OF N.E. 1/4 OF SECTION 14 POINT OF BEGINNING N. LINE OF N. W. 1/4 OF SECTION 14 N.W. CORNER OF GOVT LOT 1 N.89'43 34 E N.89'45 43 E. N.89045'43'E 615.82' f 2,639.94' 703.33' N. 1/4 CORNER OF SECTION 14 �ry� S 89045'AC3 613.13 ry , JETTY PARK (BREVARD COUNTY) Q4' e N N W. LINE GOVT LOT 1 5.0' POINT OF COMMENCOWEIVT N. W. CORNER OF SECTION 14 SUBJECT PARCEL =4i 0.27 ACRES f CAPE CARIBE O O (TOWNE REALTY) N N O O 2 Vj N.89'45'43 -E ;^ 1,466.47 S.8904543, wo 0 N o 1,464.36 yN, SHEET 1 OF2 S89'45. 7.00' PREPARED BY: SCh: 1"-80' mLENi ngineering, Inc. SURVEYORS - ENGINEERS 106 DIXIE LANE (P.O. BOX 321321) COCOA BEACH, FLORIDA 32932-1321 TELEPHONE: (321)783-7443 FAX: (321)783-5902 CERTIFICATE OF AUTHORgAWN # LB 266 11. 1 CHNGD ESMT NAME & ADD EX. A 8/27/01 DATE.- 07-13-01 DRAWN BY. KSC JOB NO. 980129 SCALE.- 1 `=80' ABBREMBONS: R = RADIUS D = DELTA ANGLE A = ARC LENGTH SEF SHEET 2 OF 2 FOR DESCRIPTION, SURVEYOR'S CER7IFICATION AND SURVEYOR'S NOTES. PREPARED AND CERTIFIED FOR: TOWNE REALTY DESCRIPTION BEACH ACCESS EASEMENT NOT A BOUNDARY SURVEY EXHIBIT A SHEET 2 OF 2 DESCRIPTION OF EASEMENT An easement for Beach Access, lying in Section 14, Township 24 South, Range 37 East, Brevard County, Florida, being more particularly described as follows: Commence at the Northwest corner of said Section 14, thence N89'4334 E along the North line of the Northwest one—quarter of said Section 14, a distance of 2,639.94 feet to the North one— quarter corner of said Section 14, thence N894543"E, along the North line of the Northeast one—quarter of said Section 14, a distance of 703.33 feet, to the POINT OF BEGINNING of the herein described easement; thence continue, N89'4543 E along the North line of the Northeast one—quarter of said Section 14, a distance of 615.82 feet, to the Northwest corner of Government Lot 1 of said Section 14; thence S01'29 O1 "E, along the West line of said Government Lot 1, a distance of 260.06 feet; thence N89'4543 E a distance of 1,466.47 feet; thence S00'14'17"E, a distance of 42.00 feet, thence S89'4543 W, a distance of 7.00 feet, thence NOO'14'17"W, a distance of 37.00 feet; thence S89'4543"W, a distance of 1,464.36 feet; thence N01'29'01"W, a distance of 260.06 feet; thence S8945 43"W, a distance of 613.13 feet, to a point of intersection with a non—tangent curve, concave Southeasterly, having a radius of 33.00 feet and a central angle of 09'2928';- thence Northeasterly, along the arc of said curve to the right, a distance of 5.47 feet (said arc subtended by a chord bearing N23'27'20"E, a distance of 5.46 feet), to the POiNT OF BEGINNING, • Containing 0.27 acres, more or less. SURVEYOR'S NOTES: 1. THIS IS NOT A SURVEY. 2. The bearings shown are based along the North line of the Northwest one—quarter of Section 14, bearing N89'43 34 E J. 0 Denotes a change in direction (no corner found or set). SEE SHEET 1 OF 2 FOR THE SKETCH TO ACCOMPANY THIS DESCRIP710N. SHEET 2 OF 2 PREPARED BY LLEN ngineering, Inc. SURVEYORS - ENGINEERS 106 DME LANE (P.O. BOX 321321) COCOA BEACH, FLORIDA 32932-1321 TELEPHONE: (321)783-7443 FAX: (321)783-5902 CM77 MATE OF AUTHOMZATION f LB 266 1. 1 CHNGD ESMT NAME & ADD EX A 8/27, JOB NO. 980129 1 DA TE- 07-13-01 SURVEYOR'S CERTIFICA710N: I hereby certify that the attached Property Description was prepared under my direction, in accordance with all applicable requirements of the Minimum Technical Standards, " for land surveying in the State of Florida, described in Chapter 61G17-6, Florida Administrative Code, pursuant to Chapter 472.027, Florida Statutes. Not valid without the signature and the original raised seal of a Florida licensed surveyor and mapper. FL PREPARED AND CERTIFIED FDR: TOWNE REALTY SURVEYOR & REGISTRATION No. 4262 Memo To: HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL From: BENNETT C. BOUCHER, CITY MANAGE CC: ALL EMPLOYEES Date: September 14, 2001 Re: EMPLOYEE HEALTH INSURANCE PROGRAM The City was notified in early August by our health insurance provider, Florida League of Cities, Inc., that the coverage premiums would be increased 47% ($60,000) effective 10/1/01. City staff has retained the services of Florida Benefits, Inc. to assist in the evaluation of PPO and HMO providers in our area. That information was given to the City Council and the employees to review. A meeting was held with employees this past Wednesday, and most employees were in favor of trying to retain one of the PPO coverage options offered by Florida League of Cities. However, the employees expressed serious concerns about converting to an HMO program. The City has always provided 100% of the cost for health, vision and dental coverage. Unfortunately, the national health care crisis has hit upon our small group of (36) full-time employees. The current coverage with the renewal premiums have been programmed into the 2001-02FY budget. The cost of the health care programs evaluated are as follows for (36) covered employees: Florida League of Cities PPO Gold Plan $ 373.78 per month, each employee $ 4,485.36 per year, each employee Annual Cost: $161,472.96 0 Page 1 PPO Silver Plan: $ 336.40 per month, each employee $ 4,036.80 per year, each employee Annual Cost: $145,324.80 PPO Bronze Plan: $ 317.71 per month, each employee $ 3,812.52 per year, each employee Annual Cost: $137,250.72 Blue Cross HMO Plan $ 297.55 per month, each employee $ 3,570.60 per year, each employee Annual Cost: $128,541.60 Health First HMO Plan $ 265.84 per month, each employee $ 3,190.08 per year, each employee Annual Cost: $114,842.88 *Our employees also would prefer to stay with the Florida League of Cities dental and vision plans. These costs are as follows: Dental with Renewal $ 25.81 per month, each employee $ 309.72 per year, each employee Annual Cost: $11,149.92 Dental without Renewal $ 28.84 per month, each employee $ 346.08 per year, each employee Annual Cost: $12,458.88 Vision $ 5.74 per month, each employee $ 68.88 per year, each employee Annual Cost: $2,479.68 Employees were asked if they would contribute towards maintaining a PPO program and opinions were mixed, with a concern of what the City Council would consider as a "fair employee contribution". • Page 2 If the City were to stay with the Florida League of Cities, coverage would be effective October 1St. Conversion to an HMO program would move the effective date to November 1 st Based on the information, it is hopeful that we can all work together to provide our employees with health, dental and vision coverage in a very difficult health care market. 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