HomeMy WebLinkAboutOrdinance - 6509-1972 - Increased Municipal Contributions To The Current Service Annuity Reserve - 11/09/1972j ·'\~ 0:,::1 '"\'"; ,,~
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ORDINANCE NO. 6509 ------
AN ORDINANCE PROVIDING FOR INCREASED MUNICIPAL CONTRIBUTIO
.TO THE CURRENT SERVICE ANNUITY RESERVE AT RETIREMENT OF THE
EMPLOYEES OF THE CITY OF LUBBOCK, TEXAS.
BE IT ORDAINED BY THE CITY COUNCIL OF LUBBOCK, TEXAS:
THAT effective January 1, 1973, for each month of Current Service there ...
after rendered by each of its employees who are members of the Texas Municipal
Retirement System., the City will contribute to the current service annuity reserve
of each such member at the time of his retirement., a sum that is 200o/o of such
memberts accumulated deposits for such month of employment; and said sum shall
be contributed from the City1s account in the Municipality Current Service Accumu
1ation Fund.
AND IT IS SO ORDERED,
Passed by the Council on first reading this 9th
Passed by the Council on second reading this 22nd
day of Novembet
day of November
~ ... ,. ~11110
MORRIS W. TURNER, MAYOR
ATTEST:
La
APPROVED AS TO FORM:
i. Senter.,
_., 197
., 197