HomeMy WebLinkAboutO-11137J-93-272
2/2/94
ORDINANCE NO. 1113 7
AN ORDINANCE AMENDING ARTICLE IV OF
CHAPTER 40 OF THE CODE OF THE CITY OF MIAMI,
FLORIDA, AS AMENDED, ENTITLED "PENSION AND
RETIREMENT PLANS," THEREBY ESTABLISHING AND
CREATING DIVISION III, SECTION 40-250,
ET SEQ., PURSUANT TO SECTION 112.048 OF THE
LAWS OF THE STATE OF FLORIDA; CREATING A
SYSTEM OF RETIREMENT FOR ELECTED OFFICIALS
WHO HAVE HELD AN ELECTIVE OFFICE FOR THE CITY
OF MIAMI, FLORIDA, FOR A PERIOD OF TWENTY
(20) OR MORE YEARS, MORE PARTICULARLY BY
ADDING NEW SECTIONS 40-250, 40-251, 40-252,
40-253, 40-254, 40-255, 40-256, AND 40-257;
CONTAINING A REPEALER PROVISION AND A
SEVERABILITY CLAUSE AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the State Legislature, pursuant to Section 112.048,
Florida Statutes, has authorized and directed each city and town
to provide a system of retirement for elected officials who have
served for twenty (20) or more years consecutively; and
WHEREAS, the City of Miami, Florida, wishes to carry out the
intent and directive of the State Legislature and implement a
retirement system for elected officials who have served the City -
as elected officials for twenty (20) or more years consecutively;
NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. Sections 40-250 through 40-257 are hereby
added to the Code of the City of Miami, Florida, as amended -and -
made a part hereof, in the following particulars:i/
Sec. 40-250. Definitions.
Unless a different meaning is plainly required by the
context, the following words and phrases as used in
this division shall have the following meaning:
a) Contribution shall mean the sum of all amounts
contributed by the City on behalf of an elected
officer of the City of Miami.
b) Beneficiary shall mean any person receiving a
retirement allowance or other benefit from the
retirement system for elected officials.
c) Benefit shall mean a retirement allowance or other
payment provided by the retirement system.
d) Compensation shall mean salary and emoluments paid
to the elected officer.
e) Consecutive Service shall mean an elected officer
who has been a Commissioner for a period of twenty
(20) years or more.
f) Elected Officer shall mean a Commissioner as
elected in accordance with Section 4(b) of the
Charter of the City of Miami as it now exists or
as it may hereafter be amended.
g) Elected officers absent from service shall mean
any member ceasing to be an elected officer during
any term of office wherein said elected officer
entered or enters and served or serves in the
Armed Forces of the United States of America
during any period which the United States of
America was or shall be engaged in war and who
thereafter was or shall be appointed or again
elected to the same elected office prior to
discharge from such service in the Armed Forces.
h) Pension shall mean a series of periodic payment
for the life of the elected officer.
i) Retirement shall mean a voluntary resignation by
the elected officer from such elective office.
j) Trustee shall be the Director of Finance.
1/ Words and/or figures stricken through shall be deleted.
Underscored words and/or figures shall be added. The
remaining provisions are now in effect and remain unchanged.
Asterisks indicate omitted and unchanged materials.
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Sec. 40-251. Retirement system established; purpose;
name; effective date.
A retirement system is hereby established and
placed under the administration and management of
the Trustee for the purpose of providing
retirement benefits pursuant to the provisions of
this division. The retirement system established
herein shall be known as the "City of Miami
Elected Officers' Retirement Trust" and shall be
effective thirty (30) days from the adoption of
this ordinance.
Sec. 40-252. Board of Trustees.
(A) Selection.
The Trustee of this retirement system shall be the
Director of Finance for the City of Miami.
(B) Term of Office.
The term of office for the trustee shall be the
term he/she is the Director of Finance for the
City of Miami.
(C) Fiduciary Responsibility.
The trustee shall be the named fiduciary of the
retirement system. As named fiduciary, the
trustee shall discharge his/her duties and
responsibilities with the care, skill, prudence
and diligence under the circumstances then
prevailing that a prudent person acting in a like
capacity and familiar with such matters would use
in the conduct of an enterprise of a like
character and with like aims; and in accordance
with ordinances and other applicable law,
documents and other instruments governing the
retirement system.
Sec. 40-253. Trust fund.
(A) Nature of trust.
(1) The Miami City Elected Officers' Retirement System
Trust is an irrevocable trust. The trustee shall
be the Director of Finance.
(2) The Trustee shall be vested with full legal title
to the City of Miami Elected Officers' Retirement
Trust fund and shall hold the fund as an
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irrevocable trust to be applied from time to time
in accordance with the provisions of this
division. All payments made to the fund by the
city and all assets whatsoever of the fund and the
income thereof, without distinction between
principal and income, shall be held by the Trustee
in a single trust fund. The Trustee may, however,
segregate or invest separately any portion of the
fund.
(3) The trustee shall be the named fiduciaries of the
fund. As named fiduciary, the trustee shall hold,
manage, control and safeguard the fund solely in
the interest of beneficiaries of the retirement
system:
(a) For the exclusive purpose of providing
benefits to beneficiaries and defraying
reasonable expenses of administering the
retirement system;
(b) With the care, skill, prudence and diligence
under the circumstances then prevailing that
a prudent man acting in a like capacity and
familiar with such matters would use in the
conduct of an enterprise of a like character
and with like aims;
(c) By diversifying the investments of the fund
so as to minimize the risk of losses, unless
under the circumstances it is clearly prudent
not to do so;
(d) In accordance with ordinances and other
applicable law, documents and other
instruments governing the fund.
(4) The trustee's attorney shall be the City Attorney.
The trustee's actuary shall be the City's actuary.
(B) Trust property.
(1) Trust property shall consist of all cash,
securities and other property, together with such
other cash, securities and other property as the
trustee may at any time hold or acquire from or on
behalf of the city pursuant to this division, and
the accruals thereto.
(2) The trustee may buy, sell, convert, redeem,
exchange or otherwise dispose of trust property at
any public or private sale without notice or
advertisement, for cash or upon credit with or
without security, without obligation on the part
-4- 11137
of any person dealing with the board to see the
application of the process of or inquire into the
validity, expedience or propriety of any such
disposition, and may make, execute, acknowledge
and deliver contracts, assignments, waivers or
other instruments.
(3) The trustee shall have the authority to vote upon
any stocks, bonds or securities of any
corporation, association or trust and to give
general or specific proxies and powers of attorney
with or without power of substitution; to
participate in mergers, reorganizations,
recapitalizations, consolidations, and similar
transactions with respect to such securities; to
deposit such stock or other securities in any
voting trust or any protective or like committee
or with depositories designated by the board,
subject to the approval of the commission; to
amortize or fail to amortize any part or all of
the premium or discount resulting from the
acquisition or disposition of assets; and
generally, to exercise any of the powers of an
owner with respect to stocks, bonds or other
investments comprising the fund which the board
may deem to be in the best interest of the fund to
exercise.
(C) Investments.
(1) Trust funds may be invested in:
(a) Bonds, notes or other obligations of the
United States or any of its agencies or those
guaranteed by the United States or for which the
credit of the United States is pledged for the
payment of the principal and interest or dividends
thereof; any of the foregoing may be in the form
of commingled accounts as long as the guidelines
of this paragraph are met;
(b) Accounts and certificates of deposit in any
bank or other financial institution incorporated
under the laws of this state or any national bank
organized under the laws of the United States and
authorized to do business and situated in this
state, to the extent that such certificates of
deposit are secured by the deposit of securities
of the United States government; any of the
foregoing may be in the form of commingled
accounts as long as the guidelines of this
paragraph are met;
11137
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(c) Notes secured by first mortgages on real
property insured or guaranteed by the Federal
Housing Administration or the Veterans'
Administration;
(d) Interest -bearing obligations with a fixed
maturity of any corporation organized under the
laws of the United States, any state or organized
territory of the United States and the District of
Columbia; provided that such obligations are rated
by at least two (2) nationally recognized rating
services in any one (1) of the four (4) highest
classifications approved by the comptroller of the
currency for the investment of funds of national
banks or, if only one (1) nationally recognized
rating service shall rate such obligations, such
rating service must have rated such obligations in
any one (1) of the three (3) highest
classifications heretofore mentioned;
(e) Venture capital, private placements and
letter stocks, which may be in the form of
commingled ownership;
(f) Real estate, which may be in the form of
commingled ownership.
Sec. 40-254. Contributions.
This shall be a non-contributory system. The City
shall make such contributions so as to provide for
an actuarial sound pension trust for the benefit
of elected officers.
Sec. 40-255. Benefits.
Any elected officer as herein defined, who has
been a commissioner for a period of twenty (20)
years or more and who voluntarily resigns, shall
be entitled during the remainder of his natural
life to a sum equal to one-half (1/2) of his/her
W-2 wages for the calendar year preceding
resignation or termination of his/her term of
office and a single sum death benefit fully vested
at date of death.
Sec. 40-256. Assignments prohibited.
The present or future right of a person to moneys
in the fund or to a retirement allowance, or any
other right accrued or accruing to any person
under the provisions of this division, shall be
unassignable and shall not be subject to
execution, garnishment, attachment, the operation
-6- 11137
of bankruptcy or insolvency law or any other
process of law whatsoever, except with respect to
alimony, child support, or medical payments to a
former spouse.
Sec. 40-257. Bonding; fiduciary insurance.
Prior to exercising custody or control of any
funds or property of the retirement system, the
trustee of the retirement system shall be bonded.
Such bond shall provide protection to the
retirement system against loss by reason of acts
of fraud or dishonesty."
Section 2. All ordinances or parts of ordinances insofar
as they are inconsistent or in conflict with the provisions of
this Ordinance are hereby repealed.
Section 3. If any section, part of section, paragraph,
clause, phrase, or word of this Ordinance is declared invalid,
the remaining provisions of this Ordinance shall not be affected.
Section 4. This Ordinance shall become effective thirty
(30) days after final reading and adoption thereof.
PASSED ON FIRST READING BY TITLE ONLY this 13th day of
May , 1993.
PASSED AND ADOPTED ON SECOND AND FINAL READING BY TITLE ONLY
this 14th day of April , 1994.
ATTE
MATTY HIRAI, ITY CLERK
f
STE EN P. CLARK, MAYOR
1113'7
-7-
PREPARED AND APPROVED BY:
RAMON IRIZARR
ASSISTANT C Y ATTO NEY
APPROVED TO FORM AND CORRECTNESS:
A. Q N J E , III
CITY ATTU
rF,*
RI:bf:csk:141002
ffm
FORM 8B MEWRANDUM OF VOTING CONFLICT FOR
COUNTY, MUNICIPAL, AND OTHER LOCAL PUBLIC OFFICERS
LAST NAME- FIRST NAME -MIDDLE NAME
Plummer, J.L.
MAILING ADDRESS
3500 Pan American Drive
CITY
Miami
DATE ON WHICH VOTE OCCURRED
April 14, 1994
BOARD. COUNCIL, COMMISSION. AUTHORITY. OR COMMITTEE
City of Miami Commission
THE BOARD. COUNCIL, COMMISSION. AUTHORITY OR COMMITTEE ON
WHICH I SERVE IS A UNIT OF.
CITY O COUNTY O OTHER LOCAL AGENCY
COUNTY
Dade NAME OF POLITICAL SUBDIVISION:
Commissioner
MY POSITION IS: �O y�
ELECTIVE O APPOINTIVE
WHO MUST FILE FORM iE
This form is for use by any person serving at the county, city, or other local level of government on an appointed or elected board,
council, commission, authority, or committee. It applies equally to members of advisory and non -advisory bodies who are presented
with a voting conflict of interest under Section 112.3143, Florida Statutes.
Your responsibilities under the law when faced with a measure in which you have a conflict of interest will vary greatly depending
on whether you hold an elective or appointive position. For this reason, please pay close attention to the instructions on this form
before completing the reverse side and filing the form.
INSTRUCTIONS FOR COMPLIANCE WITH SECTION 112.3143, FLORIDA STATUTES
A person holding elective or appointive county, municipal, or other local public office MUST ABSTAIN from voting on a measure
which inures to his special private gain. Each elected or appointed local officer also is prohibited from knowingly voting on a measure
which inures to the special gain of a principal (other than a government agency4 by whom ,be is retained (including the parent
organization or subsidiary of a corporate principal by which he is retained); to the special private gain of a relative; or to the special
private gain of a business associate. Commissioners of community redevelopment agencies under Sec. 163.356 or 163.357, F.S., and
officers of independent special tax districts elected on a one -acre, one -vote basis are not prohibited from voting in that capacity.
For purposes of this law, a "relative" includes only the officer's father, mother, son, daughter, husband, wife, father-in-law, mother-in-
law, son-in-law, and daughter-in-law. A "business associate" means any person or entity engaged in or carrying on a business
enterprise with the officer as a partner, joint venturer, coowner of property, or corporate shareholder (where the shares of the
corporation are not listed on any national or regional stock exchange).
ELECTED OFFICERS:
In addition to abstaining from voting in the situations described above, you must disclose the conflict:
PRIOR TO THE VOTE BEING TAKEN by publicly stating to the assembly the nature of your interest in the measure on
Which you arc abstaining from voting; and
WITHIN 15 DAYS AFTER THE VOTE OCCURS by completing and filing this form with the person responsible for
recording the minutes of the meeting, who should incorporate the form in the minutes.
APPOINTED OFFICERS:
Although you must abstain from voting in the situations described above, you otherwise may participate in these matters However,
you must disclose the nature of the conflict before making any attempt to influence the decision, whether orally or in writing and
whether made by you or at your direction.
IF YOU INTEND TO MAKE ANY ATTEMPT TO INFLUENCE THE DECISION PRIOR TO THE MEETING AT WHICH
THE VOTE WLL BE TAKEN:
• You must complete and file this form (before making any attempt to influence the decision) with the person responsible for
recording the minutes of the meeting, who will incorporate the form in the minutes.
• A copy of the form must be provided immediately to the other members of the agency. -1 -1 -11 3 7
• The form must be read publicly at the next meeting after the form is filed. 1 1
CE FORM 811 - 10-91 PAGE I
OV
IF YOU MAKE NO ATTEMPT TO Ih. —CENCE THE DECISION EXCEPT BY DL. _(JSSION AT THE MEETING:
• You must disclose orally the nature of your conflict in the measure before participating.
• You must complete the form and file it within 15 days after the vote occurs with the person responsible for recording the minutes of
the meeting, who must incorporate the form in the minutes. A copy of the form must be provided immediately to the other
members of the agency, and the form must be read publicly at the next meeting after the form is filed.
DISCLOSURE OF LOCAL OFFICER'S INTEREST
I, T _ T. _ P1 ii=pr , hereby disclose that on AprT 1 14 19 94L:
(a) A measure came or will come before my agency which (check one)
X inured to my special private gain;
inured to the special gain of my business associate,
inured to the special gain of my relative,
inured to the special gain of
whom I am retained; or
, by
inured to the special gain of , which
is the parent organization or subsidiary of a principal which has retained me.
(b) The measure before my agency and the nature of my conflicting interest in the measure is as follows:
AO
April l 14_, 1994
Date Filed
J
NOTICE: UNDER PROVISIONS OF FLORIDA STATUTES §112.317 (1991), A FAILURE TO MAKE ANY REQUIRED
DISCLOSURE CONSTITUTES GROUNDS FOR AND MAY BE PUNISHED BY ONE OR MORE OF THE FOLLOWING:
IMPEACHMENT, REMOVAL OR SUSPENSION FROM OFFICE OR EMPLOYMENT, DEMOTION, REDUCTION IN
SALARY, REPRIMAND, OR A CIVIL PENALTY NOT TOEXCEED SS,OW.
11137
tf FORM 99- 0-91 PAGE 2
TO
FROM
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM 27
The Honorable Mayor and Members
of the City Commission
esar H. Odio
City Manager
RECOMMENDATION
DATE : March 29, 1994 FILE :
SUBJECT : Elected Officials'
Retirement Plan:
Second Reading
REFERENCES: Ordinance
ENCLOSURES:
In conformance with Florida State Statute Section 112.048, the Administration
respectfully recommends the City Commission's approval on second reading of
an ordinance creating the City of Miami Elected Officials' Retirement Trust.
BACKGROUND
The State of Florida, pursuant to Section 112.048, Florida Statutes, has
authorized and directed each city and town to provide a system of retirement for
elected officials who have served for twenty (20) or more years consecutively.
As a result of this Florida Statute, on May 13, 1993, the City Commission passed
on first reading an ordinance creating a system of retirement for elected officials.
In discussions with the State of Florida's Division of Retirement, the agency that
is responsible for the oversight of public sector retirement programs, it was
determined that Florida Statute 112.048 was considered as a minimum baseline
for elected officials' retirement programs. In fact, more liberal systems exist
within several jurisdictions in Florida according to the City's actuary.
Accordingly, for the second reading of the proposed ordinance, the
Administration is recommending minor revisions to the ordinance which relate to:
(1) a term of service of 20 years or more as opposed to 20 or more years
consecutively and (2) a more precise definition of compensation.
The proposed retirement system was conveyed to the State of Florida at the
Administration's direction by the City's actuary A. Foster Higgins & Co., Inc. In
response, on March 11, 1994. the State accepted the Elected Officials'
Retirement Program as presented by the City pursuant to the attached letter.
If you require additional information or clarification, please contact me at your
earliest convenience. V*X_ /
DEPAR .f EMENT
S E - E S CITY MANAGERS OFFICE
LAWCON CHILES DIVISION OF RETIREMENT WILLIAM H. LINDNER
GOVERNOR SECRETARY
Cedars Executive Center • Building C • 2639 North Monroe Street • Tallahassee, FL 32399-1560
March 11, 1994
Mr. Frank R. May, Assistant to the City Manager
City of Miami
P.O. Box 330708
Miami, FL 33233-0708 -
Re: City of Miami Elected Officials' Retirement Trust
March 1, 1994 Actuarial Impact Statement
Dear Mr. May:
We have completed our review of the referenced statement, and we have
determined it to be state accepted.
Please provide a copy of the signed applicable ordinance, when adopted.
Should you have any questions, please do not hesitate to contact us at
(904)488-2784 (SUNCOM 278-2784).
Sincerely,
Charles Slavin, Actuary
Bureau of Program Services
CS/lc/jp
cc: Kenneth A. Kent
1:1137-3
CITY OF MIAMI, FLORIDA 3
INTER -OFFICE MEMORANDUM
TO: Honorable Mayor and Members
of the ity Commissic,i
FROM
Cesar H. Odio
City Manager
DATE FILE
April 26, 1993
SUBJECT Florida State Retirement
Provision for Elected
Officials with 20 or More
REFERENCES : years of Service
ENCLOSURES:
It is respectfully recommended that the City Commission
adopt the attached ordinance to provide retirement benefits and
attendant administration in accordance with Florida State
Statutes for elected officials of the City of Miami who have
served the City as elected officials twenty (20) or more years
consecutively.
BACKGROUND
Florida State Statute 112.048 specifically establis res
retirement systems for elected officials serving twenty (20)
years or more.
In accordance with the State Statute, the City of Miami is
hereby establishing the Elected Officers' Retirement System
Trust, a retirement benefit, and the mechanism for the efficient
administration of the retirement trust.
111373 _/
0.14-tv of itarat
MATTY HIRAI
City Clerk
July 6, 1994
Ms. Becky DeNeve
Vice -President - Supplements
Municipal Code Corp.
P.O. Box 2235
Tallahassee, FL 32304
Dear Ms. DeNeve:
CESAR H. ODIO
City Manager
Enclosed herewith please find a copy of the following Ordinances
which amend the Code of the City of Miami, Florida:
11130 11131 11132 11137 11148
11149 11150 11151 11155
If I can be of any further assistance, please do not hesitate to
call.
Very truly ours,
0_0'"
Valerie Greenwood
Deputy Clerk
Enc. a/s
OFFICE OF THE CITY CLERK/ 3500 Pan American Drive/P.O. Box 330708/Miami, Florida 33233-0708/(305) 250-5360/FAX(305) 858-1610
(ILTA-tv of ttantv
MATTY HIRAI
City Clerk
Office of the State Attorney
Attention: Rosemary Ricotta
1350 N.W. 12th Avenue
Miami, FL 33136-2111
Dear Ms. Ricotta:
AN Ok,
y `
GFCO..FL -
July 6, 1994
CESAR H. ODIO
City Manager
Enclosed herewith please find a copy of the following Ordinances
which amend the Code of the City of Miami, Florida:
11130 11131 11132 11137 11148
11149 11150 11151 11155
Please acknowledge receipt of same by affixing your signature to
the enclosed copy of this letter and return it to this office for
our files.
Thank you.
Very truly yours,
MATTY HIRAI
City Clerk
BY: a4441-0 �
DEPUTY CLERIV-
RECEIVED BY:
DATE:
MH:vg
Enc. a/s
OFFICE OF THE CITY CLERK/ 3500 Pan American Drive/P.O. Box 330708/Miami, Florida 33233-0708/(305) 250-5360/FAX(305) 858-1610
Qzlifij of ttamt
MATTY HIRAI IN OF
City Clerk 7
� nsur unu y
r u c
O,r.r'0, F spy.
July 6, 1994
Louis Tomeo
Court Operations Officer
1351 N.W. 12th Street, Rm 7-701
Miami, FL 33125
Dear Mr. Tomeo:
CESAR H. ODIO
City Manager
Enclosed herewith please find a' copy of the following Ordinances
which amend the Code of the City of Miami, Florida:
11130 11131 11132 11137 11148
11149 11150 11151 11155
Please acknowledge receipt of same by affixing your signature to
the enclosed copy of this letter and return it to this office for
our files.
Thank you.
Very truly yours,
MATTY HIRAI
City Clerk
BY:
&" �-
DEPUTY CLERK
RECEIVED BY:
DATE:
MH:vg
Enc. a/s
OFFICE OF THE CITY CLERK/ 3500 Pan American Drive/P.O. Box 330708/Miami, Florida 33233-0708/(305) 250-5360/FAX(305) 858-1610
MIAMI DAILY BUSINESS REVIEW
Published Daily except Saturday, Sunday and
Legal Holidays
Miami, Dade County, Florida.
STATE OF FLORIDA
COUNTY OF DADE:
Before the undersigned authority personally appeared
Octelma V. Ferbeyre, who on oath says that she is the
Supervisor, Legal Notices of the Miami Daily Business
Review f/k/a Miami Review, a daily (except Saturday, Sunday
and Legal Holidays) newspaper, published at Miami in Dade
County, Florida; that the attached copy of advertisement,
being a Legal Advertisement of Notice in the matter of
CITY OF MIAMI, FLORIDA
LEGAL NOTICE
ORD. NO. 11137
in the ...................... XXXXXXX................................ Court,
was published in said newspaper in the issues of
May 25, 1994
Affiant further says that the said Miami Daily Business
Review Is a newspaper published at Miami in said Dade
County, Florida, and that the said newspaper has heretofore
been continuously published in said Dade County, Florida,
each day (except Saturday, Sunday and Legal Holidays) and
has been entered as second class mail matter at the post
office in Miami in said Dade County, Florida, for a period of
one year next preceding the first publication of the attached
copy of advertisement; and affiant furthe ys that she has
neither paid nor promised any pe fir or corporation
any discou rebate, Comm issi fund or the purpose
Of secur this advertisem public ion in the said
news r.
........ ay of.
(SEAL)
Octelma V.
Sworn to and subscribed before me this
94
.........y.,.:........................ A.D. 19......
•:; OF f%.O:•'
OFFICIAL NOTARY SEAL
CHERYL H MARMER
COMMISSION NO. CC191642
MY COMMISSION EXP. APR 12,1996
LE"L NEE
AN irttelested parsons wOl t" notitnehtatph't o 14th day of April,
19W, the City Comdiissiori of Miami, Rwidf, ficlN m" ti-
ded ordinanc
o
AN ORDINANCE AMENOD. Af,C'APTER 40 OF
THE CODE OK THE ' CITY OF 1ri I LOR16& AS AVENDED,
ENTITLED 'PENSION AND P0IREMOIT PIaANS", THEREBY ES-
TABLISHING AND CREATING DIVISK* 10. SECTION 40-260. ET
SEQ., PURSUANT TO SECTION 112.049 OF THE LAWS OF THE
STATE OF FLORIDA; CREATING A SYSTEM OF RETIREMENT
FOR ELECTED OFFICIALS WHO HAVE HELD AN ELECTIVE OF-
FICE FOR THE CITY: OF gip, FLOilbk- FOR 'A PERIM OF
TWENTY (20) OR MORE YE IRS. MOM, P YFf3Y
ADDING NEW SECTIi "s 4o•gio, 46-gsk 40-2ivicTO ,` ��fl-�4,
40-255, 4o456, AND 40-257;. CONTA - A REPSMER PROVI-
SION AND A SEVERABFLiTY CLAUSE AND PROVii FOR AN
EFFECTIVE DATE.
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