HomeMy WebLinkAbout1224 12-12-1996ORDINANCE NO. 1224
AN ORDINANCE INCREASING THE MAXIMUM
COMBINED RATES OF THE CITY'S NORMAL
CONTRIBUTIONS AND PRIOR SERVICE
CONTRIBUTIONS TO THE TEXAS MUNICIPAL
RETIREMENT SYSTEM PURSUANT TO SECTION
855.501 OF TITLE 8, TEXAS GOVERNMENT CODE,
AS AMENDED; AND PRESCRIBING THE
EFFECTIVE DATE FOR THE ORDINANCE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE OF THE CITY OF
EULESS, TEXAS:
Section 1. Pursuant to the provisions of Section 855.5010) of Subtitle G of Title 8,
Texas Government Code, as amended (which Subtitle shall herein be referred to as the
"TMRS Act, "), the City of Euless, Texas, agrees to be liable for the combined normal
contribution rate and prior service contribution rate for the City'sparricipation in the Texas
Municipal Retirement System (herein referred to as the "System "), as those rates are
approved by the System'sBoard of Trustees from time to time under the provisions of the
TMRS Act, provided that the combined rate does not exceed 15.50%.
Section 2. This ordinance shall become effective on the first day of January, 1997.
Passed and approved by a vote of 7 ayes, o nays, o abstentions, on the 12th
day of December, 1996.
APPROVED:
Mary Lib galeh, Mayor
ATTEST:
Susan Cr m, MC, City Secretary
A ROVE AS TO FORM:
City Attorney