HomeMy WebLinkAbout89-8-4301670
ORDINANCE NO. 89-8-4301
AN ORDINANCE AMENDING ORDINANCE NO. 89-3-4127
WHEREAS, KRS 95.880 requires the City to pay
administrative expenses of the Police and Firemen's Pension
Fund; and
WHEREAS, KRS 95.868 requires the Police and
Firemen's Pension Fund to have actuarial services performed;
and
WHEREAS, the Police and Firemen's Pension Fund
has a contract with William M. Mercer-Meidinger-Hansen, Inc.
to perform the actuarial services; and
WHEREAS, the City of Paducah adopted Ordinance No.
89-3-412,9 on March 28, 1989, authorizing the City Treasurer
to pay the sum of $5,000 to Mercer-Meidinger-Hansen, Inc.
for actuarial valuation of Police and Firemen's Pension
Fund; and
WHEREAS, as a result of HB 398, the valuation date
has been changed from July 1, 1987, to August 1, 1988,
resulting in additional costs for these services.
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City Treasurer be authorized
to pay William M. Mercer-Meidinger-Hansen, Inc. the sum of
$57899799 6,449.00 for their services rendered to the Police
and Firemen's Pension Fund, including actuarial evaluation
and other administrative services.
SECTION 2. This expenditure shall be charged to
Account No. 10-500-150-494.
SECTION 3. This ordinance shall be read on two
separate days and will become effective upon publication of
title and a certified summary thereof. 011
GERRY B. MONTGOMERY
Mayor
Introduced by the Board of Commissioners August 8, 1989
Adopted by the Board of Commissioners August 22, 1989
Recorded by Lenita Smith, City Clerk, August 22, 1989
Published by The Paducah Sun August 28, 1989.
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