HomeMy WebLinkAboutOrd 1609 - municipal accumulation fund of TMRS
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ORDINANCE NUMBER 1609
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 West University Place (the "City") is 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 are herein I
provided; now therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WEST UNIVERSITY
. , ,
PLACE, TEXAS:
Section L 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 2. The provisions of the ordinance shall become effective on January 1, 1999.
Section 3. If any work, phrase clause, sentence, paragraph, section or other part of
this ordinance or the application thereof to any person or circumstance, shall ever be held to
be invalid or unconstitutional by any court of competent jurisdiction, the remainder of this
ordinance and the application of such work, phrase, clause, sentence, paragraph, section or
other part of this ordinance to any other persons or circumstance shall not be affected thereby.
Section 4. All ordinance and parts of ordinances in conflict herewith are hereby
repealed to the extent of the conflict only.
Section 5. The City Council officially finds, determines and declares that a
sufficient written notice of the date hour, place and subject of each meeting at which this
ordinance was discussed, considered or acted upon was given in the manner required by the
Open Meetings Law, Chapter 551, Texas Local Government Code, as amended, and that each
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such meeting has been open to the public as required by law at all times during such
discussion, consideration and action. The City Council ratifies, approves and confirms such
notices and the contents and posting thereof.
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I ~. PASSS~EID AND APPROVED ON SECOND READING, this ,:t!2P day of
I ~1998.
II Vo~g Aye: 4",,-,,::$jtf~> ~~;?/'~ ~ :f::~
I Voting Nay: '~
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Section 6.
signature.
This ordinance shall become effective immediately upon adoption and
PASSED AND APPROVED ON FIRST READING, this ~ day of
1998.
VotingAye~~~~~~
Voting Nay: p~
Absent: ~ ~~k-J_~
Absent:
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Signed:
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Teresa Fogler
Mayor
ATTEST:
APPROVED AS TO FORM
James L. Dougherty, Jr.
City Attorney