HomeMy WebLinkAbout075 - 07/17/1990 - APPROPRIATING $35,000 FROM PRIOR YEAR RESERVES IN THE GENERAL EMPLOYEES RETIREMENT PLAN PENSION FUND ORDINANCE NO. 75, 1990
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING $35,000 FROM PRIOR YEAR RESERVES
IN THE GENERAL EMPLOYEES RETIREMENT PLAN PENSION FUND
WHEREAS, Article V, Section 8, of the Charter of the City of Fort
Collins authorizes the City Council to provide by ordinance for payment of
any expense from reserves accumulated in prior years, notwithstanding that
such reserves were not appropriated for expenditure in the annual
appropriation ordinance; and
WHEREAS, three additional employees have become eligible for
retirement under the General Employees Retirement Plan; and
WHEREAS, one additional employee is expected to be retired under the
General Employees Retirement Plan prior to the end of the year; and
WHEREAS, Resolution 90-80 of the Council of the City of Fort Collins
approved cost-of-living increases to retirees under the General Employees
Retirement Plan; and
WHEREAS, additional appropriations are needed to provide for payment
to the additional retirees and implement the cost-of-living increases; and
WHEREAS, the additional retirements and changes to the General
Employees Retirement Plan were not foreseen at the time of adoption of the
1990 budget.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated for expenditure from prior year
reserves in the General Employees Retirement Plan Fund the sum of
Thirty-five Thousand Dollars ($35,000) for the retirement of four
additional employees and cost-of-living increases for retired employees.
Introduced, considered favorably on first reading, and ordered
published this 3rd day of July, A.D. 1990, and to be presented for final
passage on the 17th day of July, A.D. 1990.
mayor
ATzEST:
City Clerk
Passed and adopted on final readin this 17th day of July,`A.D. 1990.
1;9yor
ATTEST:
2
City Clerk QA