RESOLUTION

A RESOLUTION TO ADOPT A TRUST FOR OTHER POST-EMPLOYMENT BENEFITS

WHEREAS, Section 15.2-1500 of the Code of Virginia provides, in part, that every locality shall provide for all the governmental functions of the locality, including, without limitation, the organization of all departments, offices, boards, commissions and agencies of government, and the organizational structure thereof, which are necessary and the employment of the officers and other employees needed to carry out the functions of government; and

WHEREAS, in connection with the employment of the officers and other employees needed to carry out the functions of government, the County of Fauquier has established certain plans to provide post-employment benefits other than pensions (herein “Other Post-Employment Benefits”), as defined in Section 15.2-1545 of the Code of Virginia, to individuals who have terminated their service to the County of Fauquier and to the beneficiaries of such individuals; and

WHEREAS, Article 8, Chapter 15, Subtitle II of Title 15.2 of the Code of Virginia (§§ 15.2-1544 et seq.) provides that the governing body of a county may establish a trust for the purpose of accumulating and investing assets to fund Other Post-Employment Benefits; and

WHEREAS, Section 15.2-1300 of the Code of Virginia provides that any power, privilege or authority exercised or capable of exercise by any political subdivision of the Commonwealth of Virginia may be exercised and enjoyed jointly with any other political subdivision of the Commonwealth having a similar power, privilege or authority pursuant to agreements with one another for joint action pursuant to the provisions of that Section; and

WHEREAS, any two or more political subdivisions may enter into agreements with one another for joint action pursuant to the provisions of Section 15.2-1300 of the Code of Virginia, provided that the participating political subdivisions shall approve such agreement before the agreement may enter into force; and

WHEREAS, the County of Fairfax, Virginia, and the County of Henrico, Virginia, have determined to jointly establish and participate in the Virginia Pooled OPEB Trust Fund (the “Trust Fund”) for each such county; and

WHEREAS, it appearing to the Fauquier County Board of Supervisors that it is otherwise in the best interests of Fauquier County to become a participating employer in the Trust Fund; now, therefore, be it

RESOLVED by the Fauquier County Board of Supervisors this 14th day of August 2008, That the County does hereby establish a trust pursuant to Section 15.2-1544 of the Code of Virginia for the purpose of accumulating and investing assets to fund Other Post-Employment Benefits, in the form set forth in the Virginia Pooled OPEB Trust Fund Agreement (the “Agreement”), a copy of which is attached to the August 14, 2008 Agenda Request as Exhibit A; and, be it

RESOLVED FURTHER, That the County does hereby agree to become a “Participating Employer” in the “Virginia Pooled OPEB Trust Fund” (hereinafter, the “Trust Fund”), as further defined in the Agreement; and, be it

RESOLVED FURTHER, That the County does hereby appoint the following individuals to the local finance board pursuant to Section 15.2-1547 of the Code of Virginia, to serve as the trustee of the County with respect to the Trust Fund, and as the “Local Finance Board” as defined in the Agreement:

·         Fauquier County and Public Schools Finance Director

·         Fauquier County Treasurer

·         Sally Murray, Citizen Member

·         Ari Sky, Citizen Member

·         Paul A. Hawkins, Citizen Member

; and, be it

RESOLVED FURTHER, That the finance board shall be composed of at least three members who shall include the chief financial officer of the locality, the treasurer of the locality, and at least one other additional person who shall be a citizen of the Commonwealth with proven integrity, business ability, and demonstrated experience in cash management and in investments; and the citizen members are appointed for a term of two years, with the original citizen members appointment expiring on June 30, 2010; and, be it  

RESOLVED FURTHER, That the County does hereby direct the Local Finance Board to execute and deliver the Trust Joinder Agreement for Participating Employers under Virginia Pooled OPEB Trust Fund (“Trust Joinder Agreement”), a copy of which is attached to the August 14, 2008, Agenda Request as Exhibit B; and, be it

RESOLVED FURTHER, That the County does hereby designate the following benefits provided to individuals who have terminated their service to the County and to the dependents of such individuals as Other Post-Employment Benefits:

·         Fauquier County Government Employees Pre-65 Health Insurance Continuation Plan

·         Fauquier County Public Schools Employees Pre-65 Health Insurance Continuation Plan

; and, be it

RESOLVED FINALLY, That this resolution shall be in force and effect immediately upon its adoption or passage. 

A Copy Teste 

 

Paul S. McCulla
Clerk to the Board of Supervisors

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