HomeMy WebLinkAboutOrdinance No. 00-1234 ORIGINAL
CITY OF THE COLONY, TEXAS
ORDINANCE NO.
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS,
AFFECTING PARTICIPATION OF CITY EMPLOYEES IN THE TEXAS
MUNICIPAL RETIREMENT SYSTEM GRANTING THE ADDITIONAL
RIGHTS AUTHORIZED BY SECTION 854.202(g) OF TITLE 8, TEXAS
GOVERNMENT CODE, AS AMENDED, AND PRESCRIBING THE
EFFECTIVE DATE FOR THE ORDINANCE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE
COLONY, TEXAS:
Section 1. Pursuant to the provisions of Section 854.202(g) of Subtitle G of Title 8,
Texas Government Code, as amended, which Subtitle shall herein be referred to as the
"TMRS Act", the City of The Colony, Texas, adopts the following provisions affecting
participation of its employees in the Texas Municipal Retirement System (herein referred
to as the "System"):
a) Any employee of the City who is a member of the System is eligible to
retire and receive a service retirement annuity if the member has at least 20 years of
credited service in the System performed for one or more municipalities that have
adopted a like provision under Section 854.202(g) of the TMRS Act.
b) Prior to adopting this ordinance, the governing body of the City has: (1)
prepared an actuarial analysis of member retirement annuities at 20 years of service; and
2) held a public hearing pursuant to the notice provisions of the Texas Open Meetings
Act, Chapter 551, Texas Government Code.
c) The fights hereinabove authorized shall be in addition to the plan
provisions heretofore adopted and in force at the effective date of this ordinance pursuant
to the TMRS Act.
Section 2. This ordinance shall become effective on the first day of January, 2001.
PASSED AND APPROVED this the 25t~.,h day of September, 2000.
~- ~~.~~ illiamW. Manning, Mayor-~---~
Patti A. Hicks, TRMC, City Secretary