24 CAR pt. 20, Appendix A. Attachment 1 - Resolution to Amend the Arkansas Police Officer’s Deferred Retirement Option Plan (DROP) Pursuant to Act 1372 Of 2003

ARKANSAS FIRE AND POLICE PENSION REVIEW BOARD Attachment 1 RESOLUTION TO AMEND THE ARKANSAS POLICE OFFICER’S DEFERRED RETIREMENT OPTION PLAN PURSUANT TO ACT 1372 OF 2003 Whereas, the governing body of the City of believes that it is to the advantage of the members of this pension plan and of benefit to our municipality for this option to be made available to our members. It is therefore resolved that the governing body of the City of approves this amendment of the Deferred Retirement Option Plan pursuant to Act 1372 of 2003. The City of , in electing to amend this plan, agrees to the following: 1. At the conclusion of the Deferred Retirement Option Plan (DROP), a member may continue employment. 2. This continued employment shall be available to all similarly situated members. 3. Once continued employment is elected, a member’s monthly DROP payment shall cease. 4. The provisions of Act 1372 regarding interest rate awards will be implemented. 5. The employer and employee contributions of 6% shall cease. 6. A copy of this signed resolution will be filed with the PRB. This election may be effective on the date of resolution, but no earlier than July 16, 2003. DATE Chairman Secretary/Treasurer Member Member Member Member Member Attachment 1 (Continued) RESOLUTION TO AMEND THE ARKANSAS FIREFIGHTER’S DEFERRED RETIREMENT OPTION PLAN PURSUANT TO ACT 1372 OF 2003 Whereas, the governing body of the City of believes that it is to the advantage of the members of this pension plan and of benefit to our municipality for this option to be made available to our members. It is therefore resolved that the governing body of the City of approves amendment of the Deferred Retirement Option Plan pursuant to Act 1372 of 2003. The City of , in electing to amend this plan, agrees to the following: 1. At the conclusion of the Deferred Retirement Option Plan (DROP), a member may continue employment. 2. This continued employment shall be available to all similarly situated members. 3. Once continued employment is elected, a member’s monthly DROP payment shall cease. 4. The provisions of Act 1372 regarding interest rate awards will be implemented. 5. The employer and employee contribution of 6% shall cease. 6. A copy of this signed resolution will be filed with the PRB. This election may be effective on the date of resolution, but no earlier than July 16, 2003. DATE Chairman Secretary/Treasurer Member Member Member Member Member