HomeMy WebLinkAbout388 12-08-1970ORDINANCE NO. 388
AN ORDINANCE PROVIDING FOR INCREASED MUNICIPAL
CONTRIBUTIONS TO THE CURRENT SERVICE ANNUITY
RESERVE AT RETIREMENT OF THE EMPLOYEES OF THE
CITY OF EULESS, TEXAS.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF EULESS, TEXAS:
That effective January 1, 1971, for each month of Current
Service thereafter rendered by each of its employees who are members of
the Texas Municipal Retirement System, the City will contribute to the
current service annuity reserve of each such member at the time of his
retirement, a sum that is 200% of such member's accumulated deposits for
such month of employment; and said sum shall be contributed from the
City's account in the Municipality Current Service Accumulation Fund.
November
PRESENTED AND GIVEN FIRST READING on the 24th day of
, 1970, at a regular meeting of the City Council of the City
of Euless, Texas; and given Second Reading, passed and approved on the
8th day of December_, 1970, by a vote of 4 ayes and 0 nays
at a regular meeting of the City Council of the City of Euless, Texas.
APPROVED:
ATTEST: '� Mayor
City Secretary
APPR0MD ASXO FORM:
C i ty kAttprney
ITEM V
Council Minutes
December 8, 1970