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HomeMy WebLinkAboutOrdinances Book 12, Page 385, No Ordinance Number2+ibl'ENDED 385 AN ORDINANCE PROVIDING FOR THE OBTAINING AND PROCURING OF LIFE INSURANCE ON THE GROUP PLAN FOR PRESENT AND FUTURE EMPLOYEES OF THE CITY OF PADUCAH UNDER CIVIL SERVICE, NOT INCLUDING POLICE AND FIREMEN, AND ALL FULL-TmE, PERMANENT EMPLOYEES OF THE WHITE AND COLORED PARK BOARDS, AND PROVIDING FOR THE PAYMENT OF PREMIUMS THEREON AND APPLICATION OF DIVIDENDS. WHEREAS, the General Assembly of the State of Kentucky by Chapter 178 of the Acts of 1948, provided that cities of any class shall have authority by ordinance t form employees into a group, or groups, for the purpose of obtaining the advantages of therou g p plan of life insurance, and to pay from public funds a certain part of such insurance premiums and it being desirable that such insruance be procured for all present and future employees of the City of Paducah under Civil Service and all full-time permanent employees of the White and Colored Park Boards; and the John Hancock Mutual Life Insurance Company having proposed a plan for such insurance by which said employees who so elect to be insured under the proposed group plan will pay seventy cents (70¢) on the premium per One Thousand Dollars ($1,000) of insur- ance out of the salar¢s or earnings of said employees, and the remaining part of said monthly premium to be paid by the city, not exceeding fifty percent (50%) of the monthly premiums on said insurance, and any monthly premium over $1.40 to be paid equally by said employees and the City. NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY: SECTION 1. That all present and future employees of the City of Paducah under Civil Service and all full-time, permanent employees of the White and Colored I Park Boards, but not including police or firemen who have been provided group insurance under a separate ordinance, are hereby constituted a group for the pur- pose of attaining the advantages of the group plan life insurance. Said insurance may be procured upon an application or contract which shall be signed for and on behalf of the City of Paducah by the Mayor thereof and such group insurance shall continue and be in force as to each member of said group so long as their employment continues and so long as they elect to and 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. .AM I SECTION 2. The gross premiums shall be paid by contributions from the em- ` ployees and the City of Paducah on the following basis: The employees shall each contribute the sum of seventy cents (70¢) monthly and the City of Paducah shall contribute the balance of the cost of said monthly premiums not exceeding fifty ✓i percent (500) of said monthly amount. In the event said monthly premium exceeds the sum of $1.40 per employee then the monthly premiups will be paid by employees and the City in equal amounts. All earned dividends on such insurance policy or policies shall be paid to the City of Paducah and shall be and become a part of the General Fund. DLED 386 V AENDI-D J7 SECTION 3. Said premiums shall be paid in monthly installments and shall i be set apart out of the amounts due and owing to said employees by the:City o Paducah as of the payroll period ending the 15th day of each and every month hereafter so long as said insurance shall remain in full force and effect. Z The John Hancock Mutual Life Insurance Company pf Boston, Massachusetts, having proposed a plan 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 j benefit upon his life of 91,000, 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, instrument or contract for the procurement of such insurance. SECTION 4• This ordinance shall be in full force and effect from and after its adoption. Passed by the Board of Commissioners May 22, 1951 Recorded by Sarah Thurman, City Clerk, May 22, 1951.