2018/07/16 RESOLUTION TO ESTABLISH AN IRREVOCABLE LOCAL GOVERNMENT LAW ENFORCEMENT SPECIAL SESPARATION ALLOWANCE ("LEOSSA") TRUST Harnett
COUNTY
NORTH CAROLINA
vvuuw.harnett.org
RESOLUTION TO ESTABLISH AN IRREVOCABLE LOCAL GOVERNMENT LAW
ENFORMCENT SPECIAL SESPARATION ALLOWANCE ("LEOSSA") TRUST
WHEREAS,the Local Government Law Enforcement Special Separation Allowance Trust(the
"LEOSSA Trust") established pursuant to North Carolina General Statutes ("NCGS") Section
147-69.5 and 159-30.2 consists of contributions made by local governments,public authorities
and other entities ("Participants") authorized to make contributions to the OPEB Trust,which
contributions are irrevocable;
WHEREAS,the assets of the LEOSSA Trust are not subject to the claims of creditors of any
Participants and may only be withdrawn by a Participant to provide benefits to individuals,who
are former employees, or beneficiaries of former employees of the Participant, and who are
entitled to benefits payable by the Participant within the meaning of NCGS Section 147-69.2 or
147-69.5; and
WHEREAS,the Harnett County Board of Commissioners has determined that it is advisable and
in the best interests of the County of Harnett to make contributions to the LEOSSA Trust for the
purpose of funding its obligation to provide post-employment benefits to qualified law
enforcement officers, as provided in that certain Deposit Agreement between the County of
Harnett and the Treasurer, the form of which has previously been made available to the Harnett
County Board of Commissioners (the "Deposit Agreement").
WHEREAS,the Harnett County Board of Commissioners has the authority to appoint and
remove Trustees of the LEOSSA Trust in accordance with the Trust Agreement.
WHEREAS,the Harnett County Board of Commissioners has appointed the County Manager as
an Authorized Representative and Trustee of the LEOSSA Trust, and the Trustee has accepted
such appointment pursuant to the terms and conditions set forth in the Trust Agreement.
NOW,THEREFORE, BE IT RESOLVED,that the Harnett County Board of Commissioners
hereby acknowledges and approves an initial contribution of$100,000.00 to the LEOSSA Trust
(the"Contribution")pursuant to the terms and conditions of the Deposit Agreement between the
County of Harnett and the State Treasurer of North Carolina in the form presented to the Harnett
County Board of Commissioners;
FURTHER RESOLVED,that the appropriate officers, managers, and representatives of the
County of Harnett(the"Authorized Representatives") are hereby authorized and directed to
execute and deliver the Deposit Agreement,to take any other actions deemed necessary or
appropriate to consummate the transactions provided for therein, and to cause the Contribution to
be made;
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FURTHER RESOLVED,that all actions heretofore taken by any of the Authorized
Representatives of the County of Harnett acting on behalf of the County of Harnett in
furtherance of the foregoing resolutions are hereby ratified, adopted, approved and confirmed in
all respects; and
FURTHER RESOLVED,that the Authorized Representatives of the County of Harnett acting on
behalf of the County of Harnett are hereby authorized to take all such other actions as they may
deem necessary or appropriate to give effect to the foregoing resolutions.
Duly adopted by the Harnett County Board of Commissioners this 16th day of July,2018.
no,�f :r F.�, HARNETT COUNTY BOARD OF COMMISSIONERS
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`'',� '4:>" '�y; Gordon Spring
'-.2141k-n-C� a - Chairman of the Board of Commissioners
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Attest:
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Marg.i Ir
-t Reginaeeler, Clerk
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