HomeMy WebLinkAboutOrdinances Book 9, Page 1044, No Ordinance Numbers
Page 1044
AN ORDINANCE PROVIDING FOR THE OBTAINING AND PROCURING OF
LIFE INSRUANCE ON THE GROUP PLAN FOR MEMBERS OF THE POLICE AND
FIRE DEPARTMENTS AND PROVIDING FOR THE PAYMENT OF THE PREMIUMS;) 8
THEREON I
I
WHEREAS, The General Assembly of the State of Kentucky, by
Chapter 93 of the Acts of 1932, provided that cities of the second)
class shall have authority by ordinance to form its employees
of the Police and Fire Departments into a group or groups for the
purpose of obtaining the advantage of group plan life insurance,
and to pay from public funds a certain part of such insurance
premiums, and it being desirable that such insurance be procured
for members of the police and fire departments in the City of
Paducah, and the John Hancock Mutual Life Insurance Company having!
proposed a plan for such insurance by which three-fourths of the
premiums shall be paid out of the salaries, income or earnings
I
of such employees, and the other one-fourth to be paid by the City;
I
subject to the reduction of the amounts to be paid by the City by
application of earned dividends from time to time,
NO'A THEREFORE, BE IT OnDAINED BY THE BOARD OF COf.MISSIONERS
OF THE CITY OF PADUCAH, KENTUCKY: i
SECTION 1.
That all of the officers and employees of the Police and
Fire Departments of the City of Paducah subject to insurability,
and such others as may liereafter be added to the police force and
fire department are hereby constituted a group for the purpose of
obtaining the advantage of group plan life insurance. Said insur-
ance may be procured upon an application or contract which shall b
signed for and on behalf of the City of Paducah by the Mayor there-
of, and such group insurance shall continue and be in force, as to
each member of said group, so long as such officer or employee
continues their employment, and so long as they shall contribute
to the premium fund for the payment of premiums on said insurance
as hereinafter provided, and receive such benefits as may be
provided in such insurance.
SECTIO14 2.
Three-fourths of the gross premium for such insurance shall''
be paid pro -rata in monthly installments out of the first semi-
monthly payment due to each of said officers or employees so insured
as herein provided, and the same shall be deducted from the amount
of their salaries, wages or income in the Treasurer's Office, and the
other one-fourth of said gross premium, subject to earned dividends,
shall be paid out of the City Treasury, and until otherwise provided
Page 1045
by ordinance shall be paid out of the contingent fund not to exce d
in any one month the maximum amount of Fifty ($50.00) Dollars,
provided, however, that the earned dividends on such insurance
policy or policies shall be credited against the amount to be pal
by the City of Paducah on such premiums.
SECTION 3.
Said premiums shall be payable in monthly installments and
shall be set apart out of the amounts due and oviing to said offi
ers or employees by the City of Paducah as of the first of each
and every month hereafter so long as said insruance shall remain
in full force and effect.
The John Hancock Mutual Life Insurance Company of Boston,
Massachusetts having proposed a p an of such group life insurance
and by the terms of which each member of said group of insurance
as herein provided would have an insurance benefit upon his life
of One Thousand ($1000.00) Dollars, the Mayor is authorized to
execute by signing on behalf of the City of Paducah, and subject
to the conditions contained in this ordinance, any application
or contract for the procurement of such insurance.
&ECTION 4.
This ordinance shall be in full force and effect from and
after its adoption.
Passed by the Board of Commissioners, June 16, 1936,
Recorded by Rudy Stewart, City Clerk, June 17, 1936.
u