HomeMy WebLinkAbout1836 11-25-2008ORDINANCE NO. 1836
AN ORDINANCE ELECTING FOR THE CITY TO MAKE
CURRENT SERVICE AND PRIOR SERVICE
CONTRIBUTIONS TO THE CITY'S ACCOUNT IN THE
MUNICIPAL ACCUMULATION FUND OF THE TEXAS
MUNICIPAL RETIREMENT SYSTEM AT THE
ACTUARIALLY DETERMINED RATE OF TOTAL
EMPLOYEE COMPENSATION.
WHEREAS, the City of Euless (the "City), is a participating municipality in the Texas
Municipal Retirement System (the "System "), and has undertaken to provide certain retirement,
death and disability benefits to its employees pursuant to Subtitle G, Title 8, Government Code,
(hereinafter, the "TMRS Act "); and
WHEREAS, the city council desires to authorize funding of such benefits as herein
provided.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
EULESS,TEXAS:
SECTION 1
THAT Pursuant to Section 855.407(g) of the TMRS Act, the City hereby elects to make
future normal and prior service contributions to its account in the municipal accumulation fund of
the System at such combined rate of the total compensation paid by the City to employees who
are members of the System, as such combined rate of the total compensation paid by the City
to employees who are members of the System, as the System's actuary shall annually
determine as the rate necessary to fund, within the amortization period determined as
applicable to the City under the TMRS Act, the costs of all benefits which are or may become
chargeable to or are to be paid out of the City's account in said accumulation fund, regardless of
other provisions of the TMRS Act limiting the combined rate of City contributions.
SECTION 2
THAT the provisions of the ordinance shall become effective on the first day of
December, 2008.
PRESENTED AND APPROVED ON FIRST AND FINAL READING at a regular meeting
of the Euless City Council on the 25th day of November, 2008, by a vote of 7 ayes, 0
nays, and 0 abstentions.
APPROVED: APPROVED AS TO FORM:
i Vo
Mary Lib Salen, Mayor
ATTEST:
usan Crim TRMC, City Secretary
ORDINANCE NO. 1836
AN ORDINANCE ELECTING FOR THE CITY TO MAKE
CURRENT SERVICE AND PRIOR SERVICE
CONTRIBUTIONS TO THE CITY'S ACCOUNT IN THE
MUNICIPAL ACCUMULATION FUND OF THE TEXAS
MUNICIPAL RETIREMENT SYSTEM AT THE
ACTUARIALLY DETERMINED RATE OF TOTAL
EMPLOYEE COMPENSATION.
WHEREAS, the City of Euless (the "City), is a participating municipality in the Texas
Municipal Retirement System (the "System "), and has undertaken to provide certain retirement,
death and disability benefits to its employees pursuant to Subtitle G, Title 8, Government Code,
(hereinafter, the "TMRS Act'); and
WHEREAS, the city council desires to authorize funding of such benefits as herein
provided.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
EULESS, TEXAS:
SECTION 1
THAT Pursuant to Section 855.407(g) of the TMRS Act, the City hereby elects to make
future normal and prior service contributions to its account in the municipal accumulation fund of
the System at such combined rate of the total compensation paid by the City to employees who
are members of the System, as such combined rate of the total compensation paid by the City
to employees who are members of the System, as the System's actuary shall annually
determine as the rate necessary to fund, within the amortization period determined as
applicable to the City under the TMRS Act, the costs of all benefits which are or may become
chargeable to or are to be paid out of the City's account in said accumulation fund, regardless of
other provisions of the TMRS Act limiting the combined rate of City contributions.
SECTION 2
THAT the provisions of the ordinance shall become effective on the first day of
December, 2008.
PRESENTED AND APPROVED ON FIRST AND FINAL READING at a regular meeting
of the Euless City Council on the 25`h day of November, 2008, by a vote of 7 ayes, 0
nays, and 0 abstentions.
APPROVED:
AiRTEMNIs aleh, Mayor
ATTEST:
c
usan Crim, rMC, City Secretary