HomeMy WebLinkAboutOrdinances (O-99-1180)-09/21/1999
ORDINANCE 0-99-1180
AN ORDINANCE AFFECTING PARTICIPATION OF CITY OF
COLLEYVILLE 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 of Colleyville 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:
Section 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, Texas, adopts the
following provisions affecting 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.
b. THAT prior to adopting this ordinance, the governing body of the
City has: (1) prepared an actuarial analysis of member retirement
annuities at 20 years of service; and (2) held a public hearing
pursuant to the notice provisions of the Texas Open Meetings Act,
Chapter 551, Texas Government Code.
c. THAT the rights herein above 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.
Section 2. THAT this ordinance shall become effective on the 1st day of October,
1999.
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Ordinance 0-99-1180
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I AND IT IS SO ORDERED.
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i The first reading and public hearing being conducted on the ~day of S:p1un~f ,
I 1999.
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I The second reading and public hearing being conducted on the2l~ day oLS nfth1 hu:
I 1999. I
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I ATTEST:
APPROVED:
j)~
Mayor
TO FORM AND LEGALITY:
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Ross 1 F ster
I City Attorney
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