HomeMy WebLinkAbout900 08-26-1986ORDINANCE NO. 900
AN ORDINANCE ALLOWING CERTAIN EMPLOYEES OF
THE CITY WHO HAVE TERMINATED PREVIOUS
MEMBERSHIPS IN TEXAS MUNICIPAL RETIREMENT
SYSTEM, TO DEPOSIT THE SUMS SO WITHDRAWN,
PLUS ANNUAL WITHDRAWAL CHARGES, AND ALLOWING
AND UNDERTAKING THE COST OF ALLOWING ANY SUCH
EMPLOYEE CREDIT IN SUCH SYSTEM FOR ALL
SERVICE TO WHICH SUCH EMPLOYEE HAD BEEN
ENTITLED AT DATE OF SUCH WITHDRAWAL, WITH
LIKE EFFECT AS IF ALL SUCH SERVICE HAD BEEN
PERFORMED AS AN EMPLOYEE OF THIS CITY;
PROVIDING A SEVERABILITY CLAUSE AND AN
EFFECTIVE DATE.
WAS, the actuary of the Texas Municipal Retirement System has
determined that all obligations charged against the City's
account in the municipality accumulation fund, including the
obligations arising as a result of this ordinance, can be funded
by the City within its maximum contribution rate and within its
amortization period; and
WHEREAS, the City Council has determined that adoption of this
ordinance is in the best interests of the City;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
EULESS, TEXAS:
SECTION 1. Pursuant to Section 63.003 of Subtitle G of Title
110B, Revised Civil Statutes of Texas, 1925, as amended, the City
of Euless hereby elects to allow any member of Texas Municipal
Retirement System who is an employee of this City on the 1st
day of August, 1986, who has terminated a previous membership in
said System by withdrawal of deposits while absent from service,
but who has at least 24 months of credited service as an employee
of this City since resuming membership, to deposit with the
System in a lump sum the amount withdrawn, plus a withdrawal
charge of five per cent (5 %) of such amount for each year from
date of such withdrawal to date of redeposit; and thereupon such
member shall be allowed credit for all service to which the
member had been entitled at date of termination of the earlier
membership, with like effect as if all such service had been
rendered as an employee of the City, whether so rendered or not.
The City of Euless agrees to underwrite and hereby assumes the
obligations arising out of the granting of all such credits, and
agrees that all such obligations and reserves required to provide
such credits shall be charged to this City's account in the
municipality accumulation fund. The five per cent (57) per annum
withdrawal charge paid by the member shall be deposited to the
credit of the City's account in said municipality accumulation
fund; and the deposits of the amount previously withdrawn by the
member shall be credited to his or her individual account in the
employee's saving fund of the System.
SECTION 2. SEVERABILITY CLAUSE. It is hereby declared to be
the intention of the City Council of the City of Euless that the
sections, paragraphs, sentences, clauses, and phrases of this
ordinance are severable; and if any phrase, clause, sentence,
paragraph, or section of this ordinance shall be declared
unconstitutional by the valid judgment or decree of any court of
competent jurisdiction, such unconstitutionality shall not affect
any of the remaining phrases, clauses, sentences, paragraphs, or
sections of this ordinance, since the same would have been
enacted by the City Council without the incorporation in this
ordinance of any such unconstitutional phrase, clause, sentence,
paragraph, or section.
SECTION 3. EFFECTIVE DATE. This ordinance shall be in full
force and effect from and after its passage, as provided by the
Euless City Charter and the laws of the State of Texas.
PRESENTED AND GIVEN FIRST READING at a regular meeting of the
Euless City Council on the t6— day of aU,57 ,
1986, by a vote of 11 ayes, 'i nays, and O abstentions.
GIVEN SECOND READING, PASSED, AND APPROVED at a regular meeting
of the Euless City Council on the �?& 4 day of
ay q ys � , 1986, by a vote of r ayes, nays, and
() abstentions.
ATTEST:
VA 9 Q9 ttY/ a iA
r
Z • i�S:LZC CJ� L
Harold D. Samuels, Mayor
ORDINANCE NO. 900 , Page 2 of 2