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2018 Resolutions
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12/18/2018 12:05:28 PM
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EXHIBIT <br />A <br />VIRGINIA POOLED OPEB TRUST FUND <br />AGREEMENT <br />THIS AGREEMENT (the "Agreement "), made by and between the Participating <br />Employers and their Local Finance Boards who execute Trust Joinder Agreements to participate <br />in the Virginia Pooled OPEB Trust Fund, and the individuals named as Trustees pursuant to <br />Section 106 hereof and their successors (the "Board of Trustees "). The Participating Employers <br />and their Local Finance Boards hereby establish with the Board of Trustees, and the Board of <br />Trustees hereby accept, under the terms of this Agreement, a trust for the purpose of <br />accumulating and investing assets to fund post- employment benefits other than pensions as <br />provided in Article 8, Chapter 15, Subtitle II of Title 15.2 of the Virginia Code ( §§ 15.2 -1544 et <br />seq.) to be held for the purposes set forth herein. <br />WITNESSETH: <br />WHEREAS, Section 15.2 -1500 of the Virginia Code provides, in part, that every locality <br />shall provide for all the governmental functions of the locality, including, without limitation, the <br />organization of all departments, offices, boards, commissions and agencies of government, and <br />the organizational structure thereof, which are necessary and the employment of the officers and <br />other employees needed to carry out the functions of government; and <br />WHEREAS, in connection with the employment of the officers and other employees <br />needed to carry out the functions of government, a locality may establish certain plans to provide <br />post - employment benefits other than pensions (referred to hereinafter as "Other Post - <br />Employment Benefits "), as defined in Section 15.2 -1545 of the Virginia Code, to individuals <br />who have terminated their service to the locality and to the dependents of such individuals; and <br />WHEREAS, Article 8, Chapter 15, Subtitle I1 of Title 15.2 of the Virginia Code <br />( §§ 15.2 -1544 et seq.) provides that the governing body of a city, county, or town, school district <br />or the governing body of any other political subdivision that is appointed by a city, county, or <br />town, if so authorized, may establish a trust, trusts, or equivalent arrangements for the purpose of <br />accumulating and investing assets to fund Other Post - Employment Benefits; and <br />WHEREAS, Section 15.2 -1300 of the Virginia Code provides that any power, privilege <br />or authority exercised or capable of exercise by any political subdivision of the Commonwealth <br />of Virginia may be exercised and enjoyed jointly with any other political subdivision of the <br />Commonwealth having a similar power, privilege or authority pursuant to agreements with one <br />another for joint action pursuant to the provisions of that section; and <br />WHEREAS, the County of Fairfax and the County of Henrico have adopted ordinances <br />approving participation in the Virginia Pooled OPEB Trust Fund for each such locality; and <br />WHEREAS, the Participating Employers and their Local Finance Boards and the Board <br />of Trustees of the Virginia Pooled OPEB Trust Fund (herein referred to as the "Trust Fund ") <br />As amended December i. 2012 <br />
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