HomeMy WebLinkAboutOrdinances (O-10-1777)-11/05/2010ORDINANCE 0-10-1777
AN ORDINANCE AMENDING ORDINANCE 0-02-1363, SECTION 2, PROVIDING FOR
INCREASED PRIOR AND CURRENT SERVICE ANNUITIES UNDER THE ACT
GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM FOR RETIREES AND
BENEFICIARIES OF DECEASED RETIREES OF THE CITY OF C4LLEYVILLE, AND
ESTABLISHING AN EFFECTIVE DATE FOR THE ORDINANCE
WHEREAS, the City of Colleyville has determined to provide annuity increases to its
retirees on an ad hoc basis; and
WHEREAS, all statutory and constitutional requirements for the passage of this
Ordinance have been adhered to, including but not limited to the Open
Meetings Act; and
WHEREAS, the City Council determines that the passage of this Ordinance is in the best
interests of the health, safety, and welfare of the public.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1. THAT all matters stated hereinabove are found to be true and correct and
are incorporated herein by reference as if copied in their entirety.
Sec. 2. THAT Ordinance 0-02-1363 is hereby amended as follows:
On the terms and conditions set out in Sections 854.203 and 853.404 of
Subtitle G of Title 8, Government Code, as amended (hereinafter referred to
as the "TMRS Act"), the City hereby elects to allow and to provide for
payment of the increases below stated in monthly benefits payable by the
System to retired employees and to beneficiaries of deceased employees of
the City under current service annuities and prior service annuities arising
from service by such employees to the City. An annuity increased under this
section replaces any annuity or increased annuity previously granted to the
same person.
(a) The amount of the annuity increase under this section is computed as
the sum of the prior service and current service annuities on the
effective date of retirement of the person on whose service the
annuities are based, multiplied by 70% of the percentage change in
Consumer Price Index for All Urban Consumers, from December of
the year immediately preceding the effective date of the person's
retirement to the December that is 13 months before the effective
date of the increase under this Section.
Ordinance 0-10-1777
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(b) An increase in an annuity that was reduced because of an option
selection is reducible in the same proportion and in the same manner
that the original annuity was reduced.
(c) If a computation .hereunder does not result in an increase in the
amount of an annuity, the amount of the annuity will not be changed
hereunder.
(d) The amount by which an increase under this Section exceeds all
previously granted increases to an annuitant is an obligation of the
City and of its account in the Municipality Accumulation Fund of the
System.
Sec. 3. THAT the remainder of Ordinance 0-02-1363 remains unchanged.
Sec. 4. THAT if any section, article, paragraph, sentence, clause, phrase or word in
this ordinance, or application thereto any person or circumstances is held
invalid or unconstitutional by a Court of competent jurisdiction, such holding
shall not affect the validity of the remaining portions of this ordinance; and
the City Council hereby declares it would have passed such remaining
portions of the ordinance despite such invalidity, which remaining portions
shall remain in full force and effect.
Sec. 5. THAT subject to approval by the Board of Trustees of the System, this
ordinance shall be and become effective on January 1, 2011.
AND IT IS SO ORDERED.
first reading and public hearing being conducted on the l9 day of
2010.
The second reading and public hearing being conducted on the ~'~O~ day of
2010.
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ATTES
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Cynthia ~ingleton, TRMC, CMC
City Secretary
CITY OF COLLEYVILLE
David Kelly
Mayor
Ordinance 0-10-1777
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APPROVED AS TO FORM AND LEGALITY:
1
Matthew C. G. Boyle
City Attorney