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(b) The Participating Employer acknowledges that the Plans and the FMPTF Master Trust Agreement contain provisions for involuntary Plan termination. Section 7. The Participating Employer acknowledges that all assets held in connection with the Plans, including all contributions to the Plans, all property and rights acquired or purchased with such amounts and all income attributable to such amounts, property or rights shall be held in trust for the exclusive benefit of Participating Employees and their Beneficiaries under the Plans. No part of the assets and income of the Plans shall be used for, or diverted to, purposes other than for the exclusive benefit of Participating Employees and their Beneficiaries and for defraying reasonable expenses of the Plans. All amounts of compensation deferred pursuant to the Plans, all property and rights acquired or purchased with such amounts and all income attributable to such amounts, property or rights held as part of the Plans, shall be transferred to the Master Trustees to be held, managed, invested and distributed as part of the Master Trust Fund in accordance with the provisions of the Plans and the FMPTF Master Trust Agreement. All contributions to the Plans must be transferred by the Participating Employer to the Master Trust Fund. All benefits under the Plans shall be distributed solely from the Master Trust Fund pursuant to the Plan. Section 8. This Resolution, the Trust Joinder Agreements and the Adoption Agreements shall be submitted to the Master Trustees for their approval. The Master Trustees shall determine whether the Resolution complies with the Plans and the FMPTF Master Trust Agreement, and, if it does, shall provide appropriate forms to the Participating Employer to implement participation in the Plans. The Master Trustees may refuse to approve an Adoption Agreement by an Employer that does not have proper authority to participate in the Plans. The Indian River County Board of County Commissioners hereby acknowledges that it is responsible to assure that this Resolution, the Trust Joinder Agreements and the Adoption Agreements are adopted and executed in accordance with the requirements of applicable law. Section 9. This Resolution shall remain in full force and effect until supplemented, amended, repealed or otherwise altered. Section 10. This Resolution hereby repeals all resolutions in conflict herewith. Section 11. This Resolution shall become effective immediately upon its adoption. PASSED AND DULY ADOPTED this 21St day of December, 2010. BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY, FLORIDA ATTEST Q. -b_ •j�.O�N�Y,C�Mtij�3s By: Cka.. . eputy Clerk : v' •'••% Bob Solari, Chairman *; • a*".. s J.K. BARTON ; u'. CLERK CIRCUIT COURT 'p , A ' '* PROVED AS TO FORM CORRECTNESS • :9, if'' • �4UMY `' Alan olackwich, County Attorney • s ••M��Y4Y..Yr.�+y