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RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEAL BEACH, CALIFORNIA, ESTABLISHING THE
EMPLOYEE BENEFITS TRUST ACCOUNT AS AN ACCOUNT
WITHIN THE GENERAL FUND, AND APPROPRIATING
FUNDS THERETO.
THE CITY COUNCIL OF THE CITY OF SEAL BEACH DOES HEREBY RESOLVE:
WHEREAS,
WHEREAS,
WHEREAS,
employee fringe benefits include vacation pay, sick pay
and holiday pay; and
such employee benefits represent a hidden cost which
accumulates from year to year until termination or
retirement; and
,
for the benefit of employees, it is desirable to set
aside a sum of money which will cover aforesaid hidden
cost.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Seal
Beach establish effective immediately, a trust account within the General
Fund of the City to which the sum of $250,000 be appropriated to cover
the accumulated cost of employee benefits.
PASED, APPROVED, AND ADOPTED by the City Council of the City of Seal
Beach, California, at a meeting thereof held on the day of
, 1979, by the following vote:
AYES:
NOES:
ABSENT:
ATTEST:
Councilmen
Councilmen
Councilmen
Mayor
Ci ty Cl erk