HomeMy WebLinkAboutRES 1992-14 - Board RESOLUTION NO. 9214
OF THE
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
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AUTHORIZING INVESTMENT OF
.. . ... . . . . . PENSION PLAN ASSETS
WHEREAS, currently, all pension plan assets are invested in the Hartford Insurance
Company; and
WHEREAS, after meeting with a representative from Wayne Richardson Company and
staff, the TDPUD Finance Committee has made the determination that it would be wise
to diversify the investment of pension contributions applicable to the 1991 and 1992 plan
years;
NOW, THEREFORE, BE I T RESOL VED by the Board of Directors of the Truckee Donner
Public Utility District as follows:
1. The major portion of the pension plan asset is to be invested in a
guaranteed interest contract backed by the assets of a large insurance
company.
2. A portion of the pension plan asset is to be invested in equity stocks
managed by insurance companies giving a balance between very
conservative, low growth and more aggressive, higher growth investments.
a) The President is hereby authorized to execute a group
annuity contract with Nationwide Life Insurance Company for
investment of pension assets in American Funds Group
Fundamental Investors, Nationwide Financial Services
Nationwide Fund, and Twentieth Century Growth (Twentieth
Century Investors).
b) The General Manager is hereby authorized to invest pension
contributions due for the 1991 and 1992 plan years on a
monthly basis equally to the funds described above.
PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held
within the District on the 18th day of May 1992 by the following roll call vote:
AYES: Aguera, Corbett, Curran and Sutton.
NOES: None.
ABSENT: Maass.
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
By
J s h . Aguera, P sident
ATTEST:
Su an M. Craig, Deputy Distric Jerk
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