HomeMy WebLinkAboutORD 1985-061 ORDINANCE NO. 85-61
AN ORDINANCE AIITHORIZING AND ALLOWING,
UNDER THE ACT GOVERNING THE TEXAS
MUNICIPAL RETIREMENT SYSTEM, "UPDATED
SERVICE CREDITS" IN SAID SYSTEM FOR
SERVICE PERFORMED BY QUALIFYING MEMBERS
OF SUCH SYSTEM IN THE EMPLOYMENT OF THE
� CITY OF GRAPEVINE; ESTABLISHING AN
EFFECTIVE DATE FOR SUCH ACTIONS; AND
DECLARING AN EMERGENCY
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NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF GRAPEVINE, TEXAS :
Section 1 . Authorization of Updated Service Credits.
(a) On the terms and conditions set out in Sections 63 . 401
through 63 . 403 of Title 110B, Revised Civil Statutes of Texas, as
amended, each member of the Texas Municipal Retirement System who
has current service credit or prior service credit in said System
in force and effect on the lst day of January, 1986; by reason by
service in the employment of the City of Grapevine, and on such
date has at least 36 months of credited service with said System,
shall be and is hereby allowed "Updated Service Credit" (as the
term is defined in Subsection d of Section 63 .402 of said title)
in an amount that is 100� of the "base Updated Service Credit" of
the member (calculated as provided in Subsection c of Section
63 . 402 of said title) . The Updated Service Credit hereby allowed
shall replace any Updated Service Credit, prior service credit,
special prior service credit, or antecedent service credit
°" "" previously authorized for part of the same service.
,� „� (b) In accordance with the provisions of Subsection d of Section
63 . 401 of said Title 110B, the deposits required to be made to
the Texas Municipal Retirement System by employees of the several
participating departments on account of current service shall be
calculated from and after the date aforesaid on the full amount
of such person' s earnings as an employee of the City.
Section 2 . Effective Date. Subject to approval by the
Board of Trustees of the Texas Municipal Reti.rement Systems, the
Updated Service Credits granted hereby shall be and become
effective on the lst day of January, 1986.
Section 3 . The fact that the present ordinances of the City
of Grapevine , Texas are inadequate creates an urgency and an
emergency and in the preservation of the public health, safety,
and welfare requires that this ordinance shall take effect
immediately from and after its passage and the publication of the
caption, as the law and charter in such cases provides.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
„�,..�.
GRAPEVINE, TEXAS on this the lst day of October, 1985 .
;�,_,, APPROVED:
Mayor ��
ATTEST:
City Secret�— ryr
APPROVED AS TO FORM:
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Cit.y Attorney
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