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ORDINANCE #94-6/aa
481
AN ORDINANCE APPROVING A COST OF LIVING
INCREASE TO THE ANNUITIES OF ELIGIBLE
ANNUITANTS UNDER THE POLICE AND
FIREFIGHTERS' RETIREMENT FUND OF THE CITY OF
PADUCAH,KENTUCKY
WHEREAS, on February 28, 1994, the Board of
Trustees of the Police and Firefighters' Retirement Fund of
the City of Paducah, Kentucky ("Board") adopted a resolution
wherein the Board accorded to eligible annuitants an annual
increase of cost of living to the extent of 3.0 percent,
retroactive to July 1, 1993; and
WHEREAS, it is the position of the City that the
Board's attempted implementation of such increase of cost of
living is unauthorized pursuant to KRS 95.859(3) since such
increase to cost of living of eligible annuitants is not
supported on an actuarially sound basis by the Police and
Firefighters' Retirement Fund of the City of Paducah,
Kentucky ("Fund"); and
WHEREAS, it is the further position of the City
that since such increase to cost of living for eligible
annuitants is not supported on an actuarially sound basis by
the Fund itself, an increase of cost of living to eligible
annuitants may only be implemented in the event the City, in
its sole discretion, provides additional contributions to
the Fund to fund such increase of cost of living to eligible
annuitants; and
WHEREAS, the City is agreeable to increase its
contributions to the Fund so as to fund an increase of cost
of living to eligible annuitants to the extent of 3.0
percent from and after July 1, 1993.
NOW, THEREFORE, be it ordained by the Board of
�r Commissioners of the City of Paducah, as follows:
SECTION 1. They City does hereby agree to
increase its contribution to the Fund so as to fund an
increase of cost of living to eligible annuitants to the
extent of 3.0 percent from and after July 1, 1993. To
p��-
effectuate the foregoing, the City's Director of Finance is
hereby authorized to pay into the Fund such sum which is
equal to the total of such increase to the eligible
annuitants from and after July 1, 1993, through May 31,
1994, and to thereafter increase the City's periodic
/ contributions to the Fund so as to fund such increase in the
future.
SECTION 2. The City's Director of Finance is
further authorized to pay to each eligible annuitant a lump
sum equal to the aforesaid increase to each eligible
annuitant's annuity from and after July 1, 1993, to May 31,
1994, and to thereafter pay to each eligible annuitant an
increase to such eligible annuitant's annuity of 3.0
percent.
SECTION 3. This Ordinance shall in no manner be
intended or construed as any commitment or intent by the
City to fund any other additional increase or cost of living
to eligible annuitants which may be determined by the Board
in the future, unless such increase as may be determined by
the Board is supported on an actuarially sound basis by the
Fund itself as defined under KRS 95.859(3), or unless
otherwise approved by the City Commission.
SECTION 4. This Ordinance shall be given two
separate readings in accordance with law and shall become
effective upon publication of title and certified summary
thereof.
GERALDINE B.
/,
Y /%MAYOR
Introduced by the Board of Commissioners
Adopted b the Board of Commissioners
P Y
Recorded by Acting City Clerk / M&gj Zla
Published by The Paducah Sun Glt� l)" /, / �9�
ORD\12725
`APPRO`'EB
DENTON & KE' '
DATE
482
483
ORDINANCE NO. 94-5--6-/A.3
AN ORDINANCE ACCEPTING THE BID OF ADVANCE SURVEY
EQUIPMENT SERVICE IN THE AMOUNT OF $11,500.00 FOR SALE TO
THE CITY OF SURVEYING EQUIPMENT FOR USE BY THE DEPARTMENT OF
ENVIRONMENTAL AND ENGINEERING SERVICES, AND AUTHORIZING THE
MAYOR TO EXECUTE A CONTRACT FOR SAME
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. The City of Paducah accepts the bid of
Advance Survey Equipment Service in the amount of
$11,500.00, for sale to the City of surveying equipment for
use by the Department of Environmental and Engineering
Services, said bid being in substantial compliance with the
bid specifications, and as contained in the bid of
Advance Survey Equipment Service of April 25, 1994.
SECTION 2. The Mayor is hereby authorized to
execute a contract with Advance Survey Equipment Service for
the purchase of surveying equipment authorized in Section 1
above, according to the specifications, bid proposal and all
contract documents heretofore approved and incorporated in
the bid.
SECTION 3. This expenditure shall be charged to
Account No. 01-33-07-438.
SECTION 4. This ordinance shall be read on two
separate days and will become effective upon summary
publication pursuant to KRS Chapter 424.
Mayor
ATTEST:
it Clerk
Introduced by the Board of Commissioners May 10, 1994
Adopted by the Board of Commissioners May 24, 1994
Recorded by Lenita Smith, City Clerk, May 2 , 1994
Published by The Paducah Sun 99
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