HomeMy WebLinkAboutOrdinance No. 18-042 authorizing the Finance Director to pay over to the Texas Municipal Retirement Systems the sum of $1,000,000ORDINANCE NO. 18-042
AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, TO PROVIDE
FOR PAYMENT BY THE CITY TO THE "TEXAS MUNICIPAL RETIREMENT
SYSTEM" ("TMRS"); PROVIDING FOR THE REPEAL OF ALL ORDINANCES IN
CONFLICT; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN
EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY
PARK, TEXAS:
SECTION 1. In calculation of the 2019 TMRS contribution rates, the City determined it was
necessary to provide additional funding to TMRS. The Finance Director shall pay over to TMRS the
sum of one million dollars ($1,000,000.00) and such amount is hereby appropriated for that purpose
from the available funds in the Self-Insurance Fund of the City.
SECTION 2. The provisions of this ordinance are severable and, should any such provision
be declared unconstitutional or unenforceable, such declaration shall not affect any of the remaining
provisions hereof.
SECTION 3. This ordinance shall take effect immediately from and after its passage, as the
law and Charter in such cases provide.
DULY PASSED by the City Council of the City of University Park, Texas, on this 20th day
of November, 2018.
APPROVE
OLIN LANE JR., MAYOR
OVED AS T 0 ATTEST:
CITY ATTORNEY CHRISTINE GREEN, CITY SECRETARY
(rld/11-02-18/104046)