1.70.050: EXECUTION:
The mayor and city clerk are each authorized and directed to execute (in counterparts, each of which shall constitute an original) the system instrument, and to do all other acts and things necessary, advisable and proper to put the system and related trust into full force and effect, and to make such changes therein as may be necessary to qualify the same under sections 401(a) and 501(a) of the internal revenue code of the United States. The counterpart attached to the ordinance codified in this article as exhibit A, which has been duly executed as aforesaid simultaneously with the passage of this article and made a part of this article, is ratified and confirmed in all respects.
This council is authorized and directed to proceed immediately on behalf of city of Okmulgee, Oklahoma, to pool and combine the fund into the Oklahoma municipal retirement fund as a part thereof, with similar funds of such other cities and towns, for purposes of pooled management and investment. (Ord. 1728 § 5, 1998)