HomeMy WebLinkAboutOrdinance 3028ORDINANCE NO. 3028
AN ORDINANCE INCREASING THE MAXIMUM COMBINED RATES OF
THE CITY'S NORMAL CONTRIBUTIONS AND PRIOR SERVICE
CONTRIBUTIONS TO THE TEXAS MUNICIPAL RETIREMENT SYSTEM
PURSUANT TO SECTION 855.501 OF TITLE 8, TEXAS GOVERNMENT
CODE, AS AMENDED; AND PRESCRIBING THE EFFECTIVE DATE
FOR THE ORDINANCE.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL, CITY OF NORTH
RICHLAND HILLS, TEXAS:
SECTION 1. THAT pursuant to the provisions of Section 855.501 Q) 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 North Richland Hills, Texas,
agrees to be liable for the combined normal contribution rate and prior
service contribution rate for the City's participation in the Texas Municipal
Retirement System (herein referred to as the "System"), as those rates are
approved by the System's Board of Trustees from time to time under the
provisions of the TMRS Act, provided that the combined rate does not
exceed 15.50%.
SECTION 2. This ordinance shall become effective on the first day of January 2009.
PASSED AND APPROVED on this the 10th day of November, 2008.
~`~~~~`j1~G~Na~qu~'ogq,,~~~ CITY OF TH C AN
z r ~ Oscar Trevino, Mayor
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on, City Secretary
APP S T O M AND LEGALITY:
George A. tapl ,City Attorney
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A~°P~2OVED'AS TO CONT NT:
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Pa 'ck Hillis, Human Resources Director