Article 11 - U.S. Savings Bond Purchase Program 

1-11-1 Chapter 1: Eligibility

1-11-1-1 "Eligibility"

The individuals who are eligible to participate hereunder are all employees of Allen County who are covered or who are eligible to be covered under the and objective for said company.

1-11-1-2 "Termination of Eligibility"

If a participant ceases to be an employee, or ceases to otherwise be covered, or eligible to be covered, under the County's Health and Welfare Plan, participating in this plan will automatically terminate.

1-11-2 Chapter 2: Benefits

1-11-2-1

A participant shall be entitled to elect to have no less than the minimum amount allowed by law withheld through salary reduction for the purchase of U.S. Savings Bonds, subject to all terms and conditions imposed by the U.S. government or any other pertinent regulatory agency.

1-11-3 Chapter 3: Amendment and Termination

1-11-3-1

The Board of Commissioners of the County may amend or terminate this Plan at any time by a duly adopted resolution.

1-11-3-2

All additional withholdings shall cease from the day the plan is terminated, unless otherwise provided by the Board of Commissioners or other provision of this Plan.

1-11-4 Chapter 4: Miscellaneous

1-11-4-1

This option to participate in the purchase of U.S. Savings Bonds shall not be deemed to constitute a contract between the County and any participant or to be a consideration or inducement for the employment of any participant or employee. Nothing contained in this option shall be deemed to give any participant or employee the right to be retained in the service of the County or to interfere with the right of the County to discharge any participant or employee at any time regardless of the effect which said discharge will have upon him as a participant in this option.

1-11-4-2

This option shall be construed and enforced in accordance with the laws of the State of Indiana to the extent not pre-empted by federal law.

1-11-5 Chapter 5: Execution

1-11-5-1 IN WITNESS WHEREOF, and as evidence of adoption of this option by the County, it has caused same to be executed by its Board of Commissioners on the 28th day of April, 1993.

ATTEST:

Allen County Auditor

Disclaimer

This version of the Allen County Code is an unofficial copy of the Code converted from a paper copy provided by the Allen County Attorney. Updates are added by IPFW Helmke library as received. Contact the issuing agency or the county attorney for the definitive edition.