HomeMy WebLinkAboutR-77-0584ESO f.1t`ION NO 7,7N.S5L
A RESOLUTION ALLOCATING $ 2b , b00 'idoM THE dOMTINCEt T
FtJNb PORTHE PURPOSE OP PUNDINd THE 4% INTEREST
REQUIREMENTS WAtVtti EY ORIDINANCE 8689+
WHEREAS,' thr. City CoMmission adopted OrdirtahCe 8889 oh dune 9 i 19`
Waiving the 4% interest requirement fot certain employees ekercising
eligibility to buy backcreditable service oh the Miatni
Retirement Plan for the period of Holymembership; and
theit
City .Gehetal Employees.`
WHEREAS, Ordinance'8659, adopted June 9, 197.7, identified the
Contingent Fund as the source.,of funds for the 4% intereJt payment;
Now, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:.`
Section 1. The amount of $20,000:is heYeby allocated from
the
account SpecialProgramsand Accounts Contingent Fund for the purpose
interest requirements waived for certain
funding the4%
Ordinance 8659
ATTEST:
adopted June 9► 1977.
PASSED AND ADOPTED this 14'.
H',G. ONGIE
CITY; CLERK •
PREPARED AND APPROVED PY;',
RO iERT F, CLARK
ASS=STANT CITY .ATTORNEY
'APPROVRD A$ TO FORM ANT) CORRECTN1 S$;
ORGE
-C.TTY N` 'T!
dayof.;.)ULY
employees by
1977.
MAURICE IA,A'` FERRE"
MAURICE A. FERRE
MAYOR
a
of
OCUMENTINDEX
ITEM NO
►t
CITY COMMISSION
MUTING OF
J U L 141977
R 771 5
4
Howard ' 4 ., dart', bitectoi'
epartteht of Management: se
ices..:
blet.G UtitS
Ordinance 8659► adopted 4une'9► 1977► wai+fed the interest
requirement for certain employees electing to buy back creditable
service.in.the Miami" City General employees' Petirement plan, for
the period of nonmembership.
This This benefit applies to 'present inembers of the ,l?lan who were
employed by the City as Laborers,. Watchmen or custodial Workers
between April 1, 1955 and September 30,'1962i and, who were denied
membership>status .during that time: period
The attached proposed resolution accomplishes the: intent of
Ordinance 8659 byalloc-ating.$20,000 from the account, Special'
Programs: and Accounts Contingent Fund, .