HomeMy WebLinkAboutOrdinances (O-96-1036)-08/20/1996
ORDINANCE 0-96-1036
AN ORDINANCE AFFECTING PARTICIPATION OF CITY EMPLOYEES IN THE TEXAS
MUNICIPAL RETIREMENT SYSTEM GRANTING THE ADDITIONAL RIGHTS
AUTHORIZED BY SECTION 854.202 (9) OF TITLE 8, TEXAS GOVERNMENT CODE AS
AMENDED, AND PRESCRIBING THE EFFECTIVE DATE FOR THE ORDINANCE
WHEREAS, employees of the City are members of the Texas Municipal Retirement
System (TMRS); and
WHEREAS, the City Council has the authority to adopt plan options as part of the annual
budget process;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS;
Sec. 1.
THAT pursuant to the provisions of Section 854.202 (g) 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 Colleyville adopts the following
provisions affecting the participation of its employees in the Texas Municipal
Retirement System (herein referred to as the "System"):
a.
THAT any employee of the City who is a member of the System is
eligible to retire and receive a service retirement annuity if the
member has at least 20 years of credited service in the System
performed for one or more municipalities that have adopted a like
provision under Section 854.202 (g) of the TMRS Act.
II
b.
THAT prior to adopting this ordinance, the governing body of the City
has; (1) prepared an actuarial analysis of member retirement i
annuities at 20 years of service; and (2) held a public hearing i
pursuant to the notice provisions of the Texas Open Meetings Act,
Chapter 551, Texas Government Code.
c. THAT the rights hereinabove authorized shall be in addition to the
plan provisions heretofore adopted and in force at the effective date
of this ordinance pursuant to the TMRS Act.
Sec. 2.
THAT this ordinance shall become effective on the 1st day of October, 1996.
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the20t!day of lluJu.cJ-
1996.
Ordinance 0-96-1036
Page 2 of 2
The second reading and public hearing being conducted on the _day of 1'1/ A
1996.
ATTEST:
CITY OF COLLEYVILLE
ean Harris, CMC
City Secretary
APPROVED AS TO FORM AND LEGALITY:
Ross T. Foster
City Attorney