HomeMy WebLinkAboutAuthorizing City Treasurer to pay the PFRF512
A RESOLUTION AUTHORIZING THE CITY TREASURER TO PAY THE POLICE
AND FIREMEN'S RETIREMENT FUND AN AMOUNT EQUAL TO 31 o OF THE PREVIOUS
MONTH'S SALARIES OF ALL POLICEMEN AND FIREMEN COVERED BY SAID FUND
WHEREAS, A "City of Paducah Police and Firemen's Retirement Ftxnd
Actuarial Valuation", dated January, 1980, made by Meidinger and Associates, Inc.
has been studied and discussed, and
WHEREAS, the Mayor and the Board of Commissioners has agreed with
the conclusion of said report to maintain the City's contribution to said fund in
an amount equal to 31$ of the previous month's salaries of all policemen and fire-
men covered by said fund .
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS
OF THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City Treasurer be, and he is hereby, authorized
and directed, as soon as possible and each month hereafter, to pay to the
Police and Firemen's Retirement Ftznd an amount equal to 31$ of the previous
month's salaries of all policemen and firemen covered by the retirement plan . The
Meidinger report indicates that the continuation of the present contribution rate
of 31$ will maintain the Police and Firemen's Retirement Ftznd on an actuarially
sound basis .
SECTION 2. This resolution shall be in full force and effect from and
after the date of its adoption.
Mayor
Passed by Board of Commissioners February 12; 1980
Recorded by Louise McKinney, City Clerk, February 12, 1980.