HomeMy WebLinkAboutResolution No. 1974-61 t-•
MICROFILMED
a
4-10-80
RESOLUTION NO. 74-61
A RESOLUTION AUTHORIZING SUPPLEMENTAL POLICE.
PENSION BENEFITS; PROVIDING THAT COST THEREOF
SHALL BE PAID IN PART FROM REVENUE SHARING
FUNDS RECEIVED BY STATE FROM 1% EXCISE TAX ON
CASUALTY INSURANCE PREMIUMS PROCEEDS; PROVIDING _•
AN EFFECTIVE DATE.
.
WHEREAS , THE STATE OF FLORIDA COLLECTS A FEE OF
ONE PERCENT FROM ALL CASUALTY INSURANCE POLICIES WRITTEN IN THE .
STATE; AND
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WHEREAS,
THROUGH A .REVENUE SHARING PLAN ALL SUCH : I
1
AMOUNTS COLLECTED IN THE CITY OF CAPE CANAVERAL MAY BE USED BY
THE CITY FOR THE BENEFITOF ITS POLICEMEN; AND
WHEREAS, THE CITY WISHES TO INCREASE THE POLICE
PENSION BENEFITS- AND MUTUAL OF NEW YORK HAS AGREED TO INCREASE.
. THESE BENEFITS UNDER THE CITY'S PENSION PLAN; ,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF .
THE CITY OF CAPE CANAVERAL, FLORIDA, AS FOLLOWS :
SECTION 1. THE CITY OF CAPE CANAVERAL AUTHORIZES MUTUAL:
OF NEW YORK TO. PROVIDE SUPPLEMENTAL PENSION BENEFIT TO POLICE
DEPARTMENT EMPLOYEES AS PROVIDED IN THE ADDENDUM TO THE CITY OF
CAPE CANAVERAL PENSION PLAN, ATTACHED HERETO, AND BY REFERENCE
• MADE A PART HEREOF.
SECTION 2 . ALL. REVENUE SHARING FUNDS RECEIVED BY THE
, CITY OF CAPE CANAVERAL FROM THE STATE OF FLORIDA DERIVED FROM
THE ONE PERCENT (1%) FEE COLLECTED BY •THE STATE ON CASUALTY .
INSURANCE PREMIUMS SHALL BE USED TOWARD THE COSTS OF THE SUPPLEMEN—
TAL BENEFITS DESCRIBED IN SECTION 1.
SECTION 3 . THIS RESOLUTION SHALL BECOME EFFECTIVE
IMMEDIATELY UPON ITS ADOPTION BY THE CITY COUNCIL OF THE CITY OF
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CAPE CANAVERAL, FLORIDA.
.. ADOPTED BY THE CITY COUNCIL OF THE CITY OF CAPE CANAVERAL,
p,�FtL�RIT�:1�"� ITHIS 5TH DAY OF NOVEMBER , 1974 .'
7�' oo°e'� ®Iip NAME YES NO ABE
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CITY CLE ' C -"Y ATTORNEY