HomeMy WebLinkAboutORD 2017-065 ORDINANCE NO. 2017-065
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS; APPROPRIATING $500,000.00
FROM THE TRUST AND AGENCY FUND
UNAPPROPRIATED FUND BALANCE; 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 which is 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, 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 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 GRAPEVINE, TEXAS:
Section 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.
Section 2. That the City Council hereby appropriates the funding from the trust
and agency fun unappropriated fund balance.
Section 3. That the City Council hereby authorizes an amount of $500,000.00
to be appropriated.
Section 4. Section 4. That the fact that the present ordinance and
regulations of the City of Grapevine, Texas, are inadequate to properly safeguard the
health, safety, morals, peace and general welfare of the inhabitants of the City of
Grapevine, Texas, creates an emergency for the immediate preservation of the public
business, property, health, safety and general welfare of the public which requires that
this ordinance shall become effective from and after the date of its final passage, and it
is accordingly so ordained.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 3rd day of October, 2017.
APPROVED:
11/C214
William D. Tate
Mayor
GRAP€i,
ATTEST:
Tara Brooks
---
City Secretary * * *
APPROVED AS TO FORM:
.Neic\i\ R
John F. Boyle, Jr.
City Attorney
ORD. NO. 2017-065 2