HomeMy WebLinkAboutORD 2019-065 ORDINANCE NO. 2019-065
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, APPROPRIATING $500,000.00
FROM THE FUND BALANCE ASSIGNED IN THE GENERAL
FUND FOR THE PURPOSE OF FUNDING THE OPEB
TRUST; DECLARING AN EMERGENCY AND PROVIDING
AN EFFECTIVE DATE
WHEREAS, the City Council of the City of Grapevine desires to participate in the
PARS Public Agencies Post-Retirement Health Care Plan Trust (the "Program") to fund
post-employment benefits for its employees; and
WHEREAS, the City is eligible to participate in the Program, a tax-exempt trust
and plan performing an essential governmental function within the meaning of Section
115 of the Internal Revenue Code; and
WHEREAS, the City's adoption and operation of the Program has no effect on any
current or former employee's entitlement to post-employment benefits; and
WHEREAS, the City's funding of the Program does not, and is not intended to,
create any new vested right to any benefit nor strengthen any existing vested right; and
WHEREAS, the City desires to appropriate and transfer $500,000.00 to PARS for
the purpose of funding the Trust; and
WHEREAS, all constitutional and statutory prerequisites for the approval of this
ordinance have been met, including but not limited to the Open Meetings Act; and
WHEREAS, the City Council deems the adoption of this ordinance to be 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 GRAPEVINE, TEXAS:
Section 1. That all matters stated herein above are true and correct and are
incorporated herein by reference, as if copied in their entirety.
Section 2. That the City Council hereby appropriates the funding.
Section 3. That the City Council hereby authorizes an amount of $500,000.00
to be appropriated.
Section 4. The fact that the present ordinances and regulations of the City of
Grapevine, Texas are inadequate to properly safeguard the health, safety, morals, peace
and general welfare of the public creates an emergency which requires that this ordinance
become effective from and after the date of its passage, and it is accordingly so ordained.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 15th day of October, 2019.
APPROVED:
William D. Tate
Mayor
ATTEST:
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APPROVED AS TO FORM:
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City Attorney
Ordinance No. 2019-065 2
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