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RESOLUTION NO. 2008-163 <br />into the Trust by a mistake in fact shall be returned by the Trustee to the County within a <br />reasonable period of time. <br />SECTION 2.05. Spendthrift Provision. All assets, income, and distributions of <br />the Trust shall be protected against the claims of creditors of the County and <br />Beneficiaries, and shall not be subject to execution, attachment, garnishment, the <br />operation of bankruptcy, the insolvency laws or other process whatsoever, nor shall any <br />assignment thereof be enforceable in any court. <br />SECTION 2.06. Named Fiduciary. <br />(a) The Trustee shall be the fiduciary for the Trust fund and shall have the <br />power to delegate responsibilities under this Resolution. Such delegations may be to <br />officers and employees of the County or Clerk of Court, or to other individuals or <br />organizations, including an actuary or a third -party administrator or recordkeeper, all of <br />whom shall hold those delegations at the pleasure of the Trustee. Any employee of the <br />County, and any employee of the Clerk of Court, who already receives full-time pay, and <br />to whom such fiduciary responsibilities are delegated, shall serve without additional <br />compensation. The Trustee hereby creates the OPEB Trust Board, and designates the <br />following as the sole members: Clerk of Court, Budget Director; Finance Director; the <br />County Administrator or Assistant County Administrator; and the Human Resources <br />Director. The OPEB Trust Board meetings shall be attended by the members thereof; <br />such members must be present and may not be represented by any designee of any <br />such member; provided, however, such members may designate one or more <br />individuals of each such member's respective department as additional attendees of <br />OPEB Trust Board meetings. The Trustee hereby appoints the OPEB Trust Board as <br />the Trust Administrator, and delegates to the OPEB Trust Board all powers, rights, and <br />responsibilities as set forth in, and limited by, this Resolution. <br />(b) In the event that there is a vacancy in the position of any member of the <br />OPEB Trust Board, the following shall apply: (i) the Clerk of Court may appoint a Clerk <br />of Court employee as a substitute for either the Clerk of Court or the Finance Director; <br />and (ii) the Trustee, acting by and through the County Administrator, shall designate a <br />County employee as a substitute for either the Budget Director or the Human <br />Resources Director. Any substitute member of the OPEB Trust Board appointed as <br />aforementioned shall be a full member of the OPEB Trust Board for the duration of such <br />appointment; provided, however, that contemporaneously with any appointment of a <br />substitute, the Clerk of Court or the Trustee acting by and through the County <br />Administrator, as applicable, shall file a written notice of such appointment with the <br />Trustee and the secretary to the OPEB Trust Board. <br />SECTION 2.07. Segregation of Assets. Assets under the Trust may be <br />segregated for investment purposes. No individual account for any Beneficiary will be <br />maintained at any time under the Trust and no Beneficiary will have any right or title with <br />respect to any specific assets of the Trust. Accordingly, no Beneficiary will have a <br />preferred claim, lien on, security interest in, or any beneficial interest in, any particular <br />assets of the Trust. Beneficiaries will be entitled to receive payments of assets of the <br />6 <br />