1995-12-11 Regular Meeting - Laserfiche WebLink

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ORDINANCE NO. 95-1~ - C • PAGE 2 (c) An increase in an annuity that was reduced because of an option selection is reducible in the same proportion and in the same manner that the original annuity was reduced. (d) If a computation hereunder does not result in an increase in the amount of an annuity, the amount of the annuity will not be changed hereby. (e) The amount by which an increase under this Section exceeds all previously granted increases to an annuitant is an obligation of this City and of its account in the municipality accumulation fund of the System. Section 4. The City Council finds, determines, recites and declares that a sufficient written notice of the date, hour, place and subject of this meeting of the City Council was posted at a place convenient to the public at the City Hall of the City for the time required by law preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas Government Code; and that this meeting has been open to the public as required by law at all times during which this ordinance and the subject matter thereof has been discussed, considered and formally acted upon. The City Council further ratifies, approves and confirms such written notice and the contents and posting thereof. ection Subject to approval by the Boazd of Trustees of Texas Municipal Retirement System, the updated service credits and increases in retirement annuities granted hereby shall be and become effective on the 1st day of January, 1996. PASSED AND APPROVED, this the 11th day of December, 1995. CITY OF LAP RTE B Norman .Malone, Mayor T• Sue Le s City Secretary APPROVED: 2~ Knox W. Askins City Attorney