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RESOLUTION NO. 2008-163 and shall qualify as tax-free under Section 115(1) of the Code and any amendments of the Code applicable to trusts of such type. (b) No part of the net earnings of the Trust may inure to the benefit of any employee of the County or Beneficiary other than by Benefit payments or for Administrative Services. The assets of the Trust shall not be used for or diverted to purposes other than to provide the Benefits contemplated hereunder for the exclusive benefit of Beneficiaries, except any administrative expenses for which the Trust is liable as set forth herein. A portion of net earnings may be used for payment of reasonable and necessary professional services, costs, and expenses related to assisting the Trustee in the operation of the Trust. (c) All income, profits, recoveries, contributions, forfeitures and any and all monies, securities and properties of any kind at any time received or held by the Trustee hereunder, shall become part of the Trust when received, and shall be held for the use and purposes thereof and hereof. (d) The County shall not be liable for payment to the Trust of any amount other than those contemplated by this Resolution. Neither the County nor any Beneficiary or Trustee shall be liable for any debts, liabilities, or obligations of the Trust except as provided in this Resolution. SECTION 2.02. Irrevocability. The Section 115 governmental trust established herein shall be irrevocable and shall conform to all applicable sections of the Code and all statutes, ordinances, rules, regulations, and judicial decisions interpreting the foregoing provisions. This Resolution shall be interpreted in a manner consistent with such intent and the intention of the County that the Trust hereunder satisfies the requirements of GASB 43 and GASB 45. SECTION 2.03. Exclusive Benefit. Except as provided under applicable law, no part of the corpus or income of the Trust may be used for, or diverted to, any purpose other than for the exclusive benefit of Beneficiaries under any Plan prior to the satisfaction of all liabilities of the Plan with respect to all Beneficiaries and payment of all Administrative Expenses. SECTION 2.04. No Right of Reversion; Return of Contributions. (a) Except as provided in subsection (b) below, neither the County nor the Trustee shall have any right,, title, interest, claim or demand whatsoever in or to the funds held by the Trust, other than the right to a proper application thereof and accounting therefor as provided herein, nor shall any funds ever revert back to the County or the Trustee prior to the satisfaction of all liabilities of the Plan with respect to all Beneficiaries and payment of all Administrative Expenses. (b) Notwithstanding any other provisions of this Resolution, if and to the extent permitted by the Code and other applicable laws and regulations thereunder and by GASB 43 and GASB 45, upon the County's request, a contribution that is deposited 5