HomeMy WebLinkAboutResolution No. 1974-03 MICROFILMED j.-4.
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RESOLUTION NO. 74-3
A RESOLUTION AUTHORIZING SUPPLEMENTAL POLICE
PENSION BENEFITS; PROVIDING THAT COST THEREOF
SHALL BE PAID IN PART FROM REVENUE SHARING
FUNDS RECEIVED BY STATE FROM FIRE INSURANCE
PROCEEDS; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the State of Florida collects a fee of one per
cent from all fire insurance policies written in the State; and
WHEREAS, through a Revenue Sharing Plan all such
amounts collected in the City of Cape Canaveral may be used by the City
for the benefit of 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 per cent
(1%) fee collected by the State on Fire Insurance policies shall be used to-
ward the costs of the supplemental benefits described in Section 1.
SECTION 3. This Resolution shall become effective immediately
upon its adoption by the City Council of the City of Cape Canaveral, Florida.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF CAPE
CANAVERAL, FLORIDA, THIS 15TH DAY OF JANUARY, 1974.
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