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• • <br />~~ <br />~~ <br />CITY COUiJCIL AGEi1DA ITEMS <br />T0: CITY MAIJAGER FROM: Richard Hare DATE 20-9-85 <br />Jack Owen <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br />1. Agenda Date Requested: 10-14-f~5 <br />2. REPORT; RESOLUTION; _.~_ ORDINAIJCE <br />3. PROJECT SUMMARY: An ordinance approving the updated service credits o <br />members of the City-TMRS system and also approving increased prior <br />and current service annuities for retirees and beneficiaries of <br />deceased retirees of the City; and establishing an effective date. <br />4. ACTION REQUIRED: Passage of Ordinance 1474. Funds have already been <br />budgeted for the increase in the City's contribution to the system. <br />This year's contribution will be $475,074 or $55,154 more than last <br />year's contribution. <br />5. ALTERI~IATIVE:Nonpassage of Ordinance 1474 for 1986 would result in <br />• bstponing a routine adjustment in the s stem, which in- <br />~uture years might prove more costly to ~he City. <br />6. RECOMMENDATION: Approve Ordinance 1474. <br />7. EXHIBITS: Explanatory memorandum from TMRS and cost analysis of <br />recommended updates. <br />8. AVAILABILITY OF FUNDS: <br />~_ General Fund x Water/Wastewater <br />Capital Improvement General Revenue Sharing <br />x_ Other ' <br />:.. , . . <br />' 9. ACCOUNT NUMBER: ~~tTicinnal lino itamgFUNDS AVAILABLE: X YES _NO <br />114. Richard Hare <br />TYPE NAhIE IN <br />REQUESTED BY: <br />10. APPRO ED R CI Y C U??CIL AGENDA <br />Jack wen DATE <br />CITY I4ANAGER' S OFFICE ~' <br />