HomeMy WebLinkAbout09-3523 ord 340
ORDINANCE NO. 09 -3523
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 Plainview (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; and
WHEREAS, the City Council further finds that it is in the best interest of the City
to elect to allow the System to determine the costs of all benefits to be charged to the
City's account in said accumulation fund.
NOW, THEREFORE, The City of Plainview hereby ordains that:
SECTION I.
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 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 III
Provisions of this ordinance are cumulative and nothing herein shall prevent,
alter, or diminish the applicability or enforcement of other ordinances restricting,
regulating or governing the subject matter herein.
SECTION IV
All ordinances or portions of any ordinance of the City of Plainview, Texas in
conflict herewith, are hereby amended to conform with the provisions hereof.
Ordinance No. 09 -3523 TMRS Page 1 of 2
341
SECTION V
Should any section, subsection, or any portion hereof be deemed invalid for any
reason, such holding shall not render or invalidate any other section, sub section,
sentence, provision, clause, phrase, or word severable there from and the same shall
be deemed severable for this purpose.
SECTION VI.
The provisions of the ordinance shall become effective on the first day of January
2010.
PASSED AND APPROVED on first reading on November 24, 2009.
PASSED AND APPROVED on second reading on December 8, 2009.
e
f o n C. Anderson, ayor
ATTEST:
1/2i
it.)
Belinda Hinojosa, City Se ary
APPROVED- >f0 ONT
i
G -g I am, Cit. anager
APPROVED AS TO FORM:
Leslie Spear Pearc-, City Attorney
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