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In response to Commissioner O'Bryan's query, Director Bernardo affirmed that <br />under OPEB, the Board of County Commissioners will serve as the Board of Trustees and delegate <br />to a team that will seek advice from an independent outside Advisory Committee, as to where and <br />what to invest. <br />Commissioner Flescher thanked Director Bernardo for making herself available, as <br />the County transitions through the process. <br />Administrator Baird acknowledged that this new County requirement needs to be in <br />place by October 1St, 2008. <br />Discussion ensued regarding money being set aside for future retirement benefits, <br />accruing and covering liability, and health insurance benefits offered by the County and State. <br />ON MOTION by Commissioner Flescher, SECONDED by <br />Commissioner O'Bryan, the Board by a 3-0 vote <br />(Chairman Bowden and Commissioner Wheeler absent) <br />approved Resolution 2008-163, establishing the Indian <br />River County OPEB Trust as an irrevocable Section 115 <br />Trust pursuant to the Internal Revenue Code and in <br />compliance with Governmental Accounting Standards <br />Board Statements 43 and 45; establishing the Indian River <br />County Board of County Commissioners as the OPEB <br />Board of Trustees; providing for the duties and powers of <br />the Trustee; providing for delegation of certain of the duties <br />and powers of the Trustee to the OPEB Trust Board; <br />providing for various terms of the Trust; providing for <br />26 <br />September 23, 2008 <br />