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<br />ORDINANCE NO. 08- 3/ J 7 <br /> <br />AN ORDINANCE ELECTING FOR THE CITY OF LAPORTE, TEXAS TO <br />MAKE CURRENT SERVICE AND PRIOR SERVICE CONTRIBUTIONS TO THE <br />CITY'S ACCOUNT IN THE MUNICIPAL ACCUMULATION FUND OF THE <br />TEXAS MUNICIPAL RETIREMENT SYSTEM AT THE ACTUARIALL Y <br />DETERMINED RATE OF TOTAL EMPLOYEE COMPENSATION. <br /> <br />WHEREAS, the City of La Porte (the "City"), is a participating municipality in the Texas <br />Municipal Retirement System (the "System"), and has undertaken to provide certain retirement, <br />death and disability benefits to its employees pursuant to Subtitle G, Title 8, Government Code, <br />(hereinafter, the "TMRS Act"); and <br /> <br />WHEREAS, the City Council desires to authorize funding of such benefits as herein provided; <br />now therefore, <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF LA PORTE, TEXAS: <br /> <br />Section 1. Pursuant to Section 855.407(g) of the TMRS Act, the City hereby elects to <br />make future normal and prior service contributions to its account in the municipal accumulation <br />fund of the System at such combined rate of the total compensation paid by the City to <br />employees who are members of the System, as the System's actuary shall annually determine <br />as the rate necessary to fund, within the amortization period determined as applicable to the <br />City under the TMRS Act, the costs of all benefits which are or may become chargeable to or <br />are to be paid out of the City's account in said accumulation fund, regardless of other provisions <br />of the TMRS Act limiting the combined rate of City contributions. <br /> <br />q ~ec;ti~n 2. The ppbvisions of the ordinance shall become effective on the first day of <br />do{ , 200~. <br /> <br />ATTEST: <br /> <br />APPROVED: <br /> <br />~1/;t(~AkXk; <br />City Secretary or Clerk <br /> <br />~:v~ <br /> <br />Mayor <br /> <br />l~p r -/I~/j <br /> <br />C;-/;J A -/1-0 r VI rJ--:J <br /> <br />7 <br />