HomeMy WebLinkAboutOrdinance - 8904-1986 - Ordinance 8904; Deferred Compensation; Employees - 03/13/1986JCR:cl
First Reading
March 13, 1986
Agenda I tern #24
Second Reading
March 27 ~ 1986
Agenda Item #8
ORDINANCE NO. _89_04 __ _
AN ORDINANCE AMENDING ORDINANCE NO. 7809 OF THE CITY OF LUBBOCK, WHICH
ORDINANCE PROVIDED THE PARTICULARS OF A DEFERRED COMPENSATION PLAN FOR CITY
EMPLOYEES, MODIFYING AND CHANGING SAID ORDINANCE TO CONFORM TO CHANGES IN
IRS REGULATIONS.
WHEREAS, the City Council heretofore enacted Ordinance No. 7809 which
Ordinance set for the particulars of a deferred compensation plan for the
employees of the City of Lubbock; and
WHEREAS, the Internal Revenue Service has adopted final regulations
that cover Public Sector Deferred Compensation Plan; and
WHEREAS, the final regulations as adopted by the Internal Revenue
Service necessitates the hereinafter changes and amendments to the City of
Lubbock Deferred Compensation Plan; NOW THEREFORE:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT Ordinance No. 7809 of the City of Lubbock, BE and is hereby
amended to read as follows:
DEFERRED COMPENSATION PLAN
I. INTRODUCTION
The City of Lubbock, Texas, by virtue of the authority granted by
Article 6252-Jb, V.T.C.S., hereby establishes the City of Lubbock Employees
Deferred Compensation Plan, hereinafter referred to as the "Plan", the
purpose of which is to attract and hold certain individuals by permitting
them to enter into agreements with the City which will provide for monthly
payments on retirement, as well as death benefits in the event of death
before or after retirement. The effective date of the start of this Plan
shall be July 1, 1978 or as soon as practical thereafter.
Nothing contained in this Plan shall be deemed to constitute an
employment agreement between the Participant and the City and nothing
contained herein shall be deemed to give a Participant any right to be
retained in the employ of the City. Nothing herein shall be construed to
modify the terms of any employment agreement between a Participant and the
City, this Plan being intended as a supplement thereto.
This Deferred Compensation Plan shall until otherwise directed by the
City Council, be implemented and serviced by Aetna Life and Casualty
Company.
II. DEFINITIONS
2.01 Compensation: The total annual remuneration for employment or
contracted services payable by the Employer that would be
included in the federal gross income of the Participant but for
the Participant's election to participate in the Plan.
2.02 Includible Compensation: The amount of Compensation includible
in the Participant's federal gross income, reduced both by
amounts of Compensation deferred under this Plan pursuant to
Section 457 of the Code and by amounts contributed by the
Employer to an annuity contract described in Section 403(b) of
the Code, without regard to any community property laws.
2.03 Deferred Compensation: The amount of Compensation not yet
earned, as designated in the Participation Agreement which is
made a part hereof, which the Participant and the Employer
mutually· agree shall be deferred in accordance with the pro-
visions of this Plan, subject to the following limitations:
(a) Normal Limitation: The maximum amount that may be deferred
under this Plan for a Participant's taxable year (except as
provided in paragraph 2.03(b)) is the lesser of $7,500 or 33
1/3% of the Participant's Includible Compensation, reduced
by any amount excludible from the Participant's gross income
for the taxable year under Section 403(b) of the Code.
(b) Catch-up Limitation: for each one or more of the Partici-
pant's last three taxable years ending prior to but not
including the year of such Participant's Normal Retirement
Age, as defined in paragraph 2.04, the limitation set forth
in paragraph 2.03(a) shall be the lesser of:
(1) $15,000.00, reduced by any amount excludable from the
Participant's gross income for the taxable year under
Section 403(b) of the Code; or
(2} the sum of the Normal Limitation set forth in paragraph
2.03(a} plus so much of the Normal Limitation which has
been under-utilized in all prior taxable years since
January 1, 1979.
A prior taxable year can be taken into account (a) if the
Participant was eligible to participate in the Plan or any
similar prior plan of the same Employer or another Employer in
the same state during any portion of any prior taxable year since
January 1, 1979 and {b) compensation deferred, if any, under such
plan or the Plan during such prior taxable years was subject to a
maximum deferral limitation as required by Section 457 of the
Code.
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A Participant may elect to utilize the Catch-up Limitation with
respect to only one Normal Retirement Age in this Plan or any
other similar plan notwithstanding the fact that the Participant
utilizes the Catch-up Limitations in less than all of the three
eligible years.
2.04 Normal Retirement Age: The Normal Retirement Age shall be as de-
scribed in Section 2.04(a) below subject to the alternative
provision of 2.04(b) as elected in writing by the Participant or
pursuant to the automatic provision of 2.04(c):
(a) Age 70; or
(b) Any of the following as elected by the Participant at any
time prior to Separation from Service by written instrument
or pursuant to the execution of a revised Participation
Agreement:
(1) Any age which is (1) not earlier than the earliest age
at which the Participant has the right to retire and
receive unreduced retirement benefits from the
Employer's basic pension plan and (2) not later than
the date the Participant attains age 70; or
(2) For a Participant who continues in the service of the
Employer after the Normal Retirement Age provided in
Section 2.04(a) or after the age selected pursuant to
2.04(b)(1), such Normal Retirement Age may be a later
age as designated by the Participant; provided however,
such age may not be later than the Employer's mandatory
retirement age, if any, or the Participant's actual
date of Separation from Service with the Employer.
(c) If a Participant continues to provide service for the
Employer either (a) after age 70 without having previously
elected an alternative Normal Retirement Age as provided in
Section 2.04(b) or (b) after such age as elected pursuant to
Section 2.04(b), such Participant's Normal Retirement Age
shall automatically be the later of the Employer's mandatory
retirement age, if any, or the Participant's actual date of
Separation from Service.
(d) Once a Participant has to any extent utilized the Catch-up
Limitation of Section 2.03(b), such Participant's Normal
Retirement Age shall be determined solely by reference to
that age used for purposes of Section 2.03(b); provided
further, such age may not thereafter be changed.
2.05 Retirement: The severance of the Participant's employment
contract or agreement for services with the Employer on or after
attainment of the Participant's Normal Retirement Age whereby the
Participant thereafter is not providing services to the
Employer.
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2.06 Separation from Service: The severance of the Participant's
employment contract or agreement for services with the Employer
whereby the Participant thereafter is not providing services to
the Employer.
2.07 Beneficiary: Beneficiary or Beneficiaries of certain benefits of
the Plan designated by the Participant in the Participation
Agreement. Nothing herein shall prevent the Participant from
designating more than one Beneficiary or primary and secondary
Beneficiaries or changing the designation of a Beneficiary. If
two or more or less than all designated Beneficiaries survive the
Participant, payments shall be made equally to all such Bene-
ficiaries, unless otherwise provided in the Beneficiary desig-
nation. Elections made by a Participant in the Participation
Agreement shall be binding on any such Beneficiary or Bene-
ficiaries.
2.08 Eligible Individual: Any individual, to include those appointed,
elected or under contract, who performs services for the Employer
as an employee or independent contractor for which Compensation
is paid.
2.09 Participant: Any Eligible Individual who fulfills the eligi-
bility and· enrollment requirements of Article jy.
2.10 Participation Agreement: A written agreement between the
Employer and a Participant setting forth certain provisions and
elections relative to the Plan, establishing the amount of
Deferred Compensation and the manner and method of paying
benefits under the Plan, incorporating the terms and conditions
of the Plan and establishing the Participant's participation in
the Plan.
2.11 Plan Year: The calendar year.
III. ADMINISTRATION
3.01 This Plan shall be administered by a Committee of one appointed
by the City Manager, hereinafter referred to as the Committee.
3.02 The Committee shall represent the City in all matters concerning
the administration of this Plan. The City Manager may remove a
Committee member for any reason by giving him ten (10) days
written notice, and fill any vacancies these created.
3.03 The Committee shall have full power and authority to adopt rules
and regulations for the administration of the Plan, provided that
such rules and regulations are not inconsistent with the pro-
visions of this Plan, or Section 457 of the Code or regulations
promulgated thereunder, and to interpret, alter, amend or revoke
any rules or regulations as adopted.
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3.04 A Committee member shall be eligible to participate in the Plan,
but such a member shall not be entitled to participate in
discretionary decisions under Article VII relating to such
member's own participation in the Plan:--
3.05 The Employer may contract with the Aetna Life Insurance and
Annuity Company to issue to the Employer an annuity contract as
described in Article V of the Plan and to provide services under
the Plan for the convenience of the Employer including, but not
limited to, the enrollment of Eligible Individuals as Partici-
pants on behalf of the Employer, the maintenance of individual or
other accounts and other records, the making of periodic reports
and the disbursement of benefits to Participants and Benefi-
ciaries.
IV. PARTICIPATION IN THE PLAN
4.01 Eligibility: Any Eligible Individual who performs services for
the Employer for which Compensation is paid and who executes a
Participation Agreement with the Employer is eligible to
participate in the Plan.
4.02 Enrollment in the Plan:
(a) An Eligible Individual may become a Participant and agree to
defer Compensation not yet earned by entering into a
Participation Agreement prior to the first day of the
calendar month in which it is to become effective.
(b) At the time of entering into an agreement hereunder to defer
compensation or at the time of re-entry following a with-
drawal, a Participant must agree to defer a minimum amount
of $650.00 per year.
(c) A Participant who defers compensation may modify such
agreement to change the amount deferred once each calendar
quarter.
(d) A Participant may at any time revoke his agreement to defer
compensation by notifying the Committee in writing 30 days
prior to the effective date of the termination, and the
Participants full compensation will be thereupon restored in
the month subsequent to the effective date of such revoca-
tion, however, his accrued benefits shall only be paid as
provided in this Plan.
(e) A Participant who has withdrawn as set forth in Article VII
or revoked as set forth in (d) above may again become a
Participant by executing a new agreement to defer compen-
sation not yet earned, but such agreement must be made prior
to the beginning of the calendar month in which it is to
become effective.
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V. CALCULATION OF BENEFITS
5.01 The amount of any benefit payment to a Participant or Beneficiary
made pursuant to this Plan shall be determined by the value at
the time of such payment of the annuity contract described below
in accordance with elections in the Participation Agreement and
the provisions of the Plan:
(a) An amount equal to the amount which would have been payable
to the Employer under an annuity contract issued by the
Aetna Life Insurance and Annuity Company ("Annuity Con-
tract") with the Participant included as the annuitant
thereunder, and had the manner and method of payment
selected been as specified in the Participation Agreement,
~nd had the time of commencement of such payments selected
been as provided in the Plan pursuant to the elections made
in the Participation Agreement, and had the premium been
equal to the Participant's Deferred Compensation as if such
Deferred Compensation had been applied as a premium to such
Annuity Contract within a reasonable time subsequent to the
actual deferral and as specified in the Participant's
Participation Agreement.
5.02 The Employer at its discretion may acquire the Annuity Contract
and invest amounts of Deferred Compensation in the Annuity
Contract in order to provide a fund from which it can satisfy its
obligation to make benefit payments pursuant to this Plan. Any
Annuity Contract so acquired for the convenience of the Employer
shall be the sole and exclusive property of the Employer with the
Employer named as owner and beneficiary; provided further, such
Annuity Contract shall not be held in trust or collateral
security for the benefit of any Participant or Beneficiary.
5.03 All amounts of Compensation deferred under this Plan, all
property and rights which may be purchased by the Employer with
such amounts and all income attributable to such amounts,
property or rights to property shall remain the sole property and
rights of the Employer without being restricted by the provisions
of this Plan subject only to the claims of the Employer's general
creditors. The obligation of the Employer under this Plan is
purely contractual and shall not be funded or secured in any
way.
5.04 The Employer shall be liable to pay benefits under this Plan only
to the extent of amounts that would have been available under the
Annuity Contract as measured by elections made in the Partici-
pation Agreement, and the Employer shall not be responsible for
the investment or performance results of such Annuity Contract.
Furthermore, if the Annuity Contract is so acquired to measure
benefits payable under this Plan, the value of any benefit shall
be determined by the actual value of the Annuity Contract at the
time of benefit payment unaffected by any independent or arbi-
trary standard of calculation with respect to such Annuity
Contract.
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VI. BENEFITS
6.01 General Benefit Terms:
(a) Benefit payments to a Participant or Beneficiary shall be
made according to the manner and method of payment as
elected in the Participation Agreement, which election may
be changed by a Participant or a Beneficiary as appropriate
at any time prior to the commencement of such benefit
payments pursuant to the Participation Agreement.
(b) In the absence of an election in the Participation Agreement
as to the manner and method of such benefit payments as
provided in Section 6.01(a), the Employer shall make monthly
payments on a fixed basis to the Participant or Beneficiary
as a continuous lifetime annuity with one hundred twenty
(120) payments guaranteed.
(c)
(d)
(e)
At the time benefits commence the present value of all
payments to be made to a Participant must exceed one-half of
the present value of the total payments to be made to the
Participant and the Beneficiary as if no Beneficiary were
designated based on the life expectancy of the Participant
according to the mortality tables of Aetna Life Insurance
and Annuity Company.
Benefit payments to a Participant or Beneficiary shall
commence at the time provided in the Plan, subject to an
election by the Participant or Beneficiary as appropriate
prior to the time such benefits first become payable to
defer the beginning of such payments to a later date as
allowed by the Plan and pursuant to the Participation
Agreement.
In no event may benefit payments to the Participant or any
Beneficiary commence more than 60 days after the close of
the Plan Year after the later of (1) the date of Separation
from Service or (2) the date the Participant attains (or
would have attained) Normal Retirement Age.
(f) for purposes of interpreting the provisions of the Plan, the
Committee shall only consider a Participation Agreement
signed by the Participant or Beneficiary as appropriate and
submitted to the Committee.
6.02 Benefits Upon Retirement:
Beginning no later than sixty (60) days following the Partici-
pant's Retirement, the Employer shall begin payments to the
Participant in accordance with the elections made in the Partici-
pation Agreement; provided however, the Participant may ir-
revocably elect, within the ninety (90) day period ending with
Retirement, to defer the beginning of any portion of such
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payments to a later date not later than sixty (60) days after the
close of the Plan year following Retirement and as provided in
the Participation Agreement.
6.03 Benefits Upon Separation From Service:
If Separation from Service occurs prior to attainment of the
Normal Retirement Age, the Employer shall begin benefit payments
no later than sixty (60) days following such Separation from
Service; provided however, the Participant may irrevocably elect,
within the ninety (90) day period ending with Separation from
Service, to defer the beginning of any portion of such payments
to a later date not later than Normal Retirement Age as provided
in the Participation Agreement.
6.04 Plan-to-Plan Transfers:
If the Participant Separates from Service to accept employment
with or perform services for another employer in this state which
maintains an "eligible" plan of deferred compensation pursuant to
Section 457 of the Code, the amounts deferred under this Plan
shall not be payable upon such Separation from Service regardless
of any other provision of the Plan. Such amounts shall rather be
transferred automatically to such other "eligible" plan, provided
such other plan provides for the acceptance of such amounts.
6.05 Benefits Upon Death After Commencement of Benefits
(a) Should the Participant die at any time after benefit
payments have commenced, the Employer shall commence payment
to the Beneficiary of the balance remaining of such payments
within thirty (30) days of receipt of satisfactory proof of
death of the Participant and according to the manner and
method selected by the Participant in the Participation
Agreement over a period not to exceed:
(a) the life of the Beneficiary if the Beneficiary is the
Participant's surviving spouse, or
(b) a period not in excess of fifteen (15) years, if the
Beneficiary is not the Participant's surviving spouse.
(b) If no Beneficiary is designated as provided in Section 2.07
or if no Beneficiary survives the Participant for a period
of thirty (30) days, then the Employer shall pay to the
estate of the Participant a single lump sum amount equal to
the current value of such remaining payments. If a Bene-
ficiary does not survive the period after the Participant's
death during which such payments to the Beneficiary are to
be made, the Employer shall pay to the estate of that
Beneficiary a single lump sum amount equal to the current
value of such remaining payments to that Beneficiary.
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6.06 Benefits Upon Death Prior To Commencement of Benefits:
(a) Should the Participant die at any time before benefit
payments have commenced, the Employer shall commence benefit
payments to the Beneficiary no earlier than sixty-one (61)
days and no later than ninety (90) days subsequent to the
Participant's death, subject to satisfactory proof of death
of the Participant and according to the manner and method
provided in the Participation Agreement or as selected by
the Beneficiary pursuant to a revised Participation Agree-
ment submitted to the Committee prior to the commencement of
such benefit payments over a period not to exceed:
(a) the life of the Beneficiary if the Beneficiary is the
Participant's surviving spouse, or
(b) a period not in excess of fifteen (15) years, if the
Beneficiary is not the Participant's surviving spouse.
(b) However, at the discretion of the Employer the Beneficiary
may irrevocably elect within the sixty (60) day period
subsequent to the Participant's death to defer the beginning
of such payments to a date not later than the date the
Participant would have attained Normal Retirement Age. The
Beneficiary may also elect, prior to the date when such
deferred benefits are to commence pursuant to Section
6.06(b) of the Plan, the manner and method of benefit
payments as allowed under the Plan.
(c) If no Beneficiary is designated as provided in Section 2.07
or if no Beneficiary survives the Participant for a period
of thirty (30) days, the Employer shall pay to the estate of
the Participant a single lump sum amount equal to the
current value of any remaining payments. If a Beneficiary
does not survive the period after the Participant's death
during which such payments to the Beneficiary are to be
made, then the Employer shall pay to the estate of that
Beneficiary a single lump sum amount equal to the current
value of such remaining payments to that Beneficiary.
VII. WITHDRAWALS
7.01 In the case of an unforeseeable emergency prior or subsequent to
the commencement of benefit payments, a Participant may apply to
the Committee for withdrawal of an amount reasonably necessary to
satisfy the emergency need. If such application for withdrawal
is approved by the Committee, the withdrawal will be effective at
the later of the date specified in the Participant's application
or the date of approval by the Committee, and the approved amount
shall be payable in a lump sum within thirty (30) days of such
effective date or in some other manner consistent with the
emergency need as determined by the Committee.
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7.02 For the purposes of this Plan, the term "unforeseeable emergency"
means a severe financial hardship to the Participant resulting
from a sudden and unexpected illness or accident of the Partici-
pant or of a dependent (as defined in the Code) of the Partici-
pant, loss of the Participant's property due to casualty, or
other similar extraordinary and unforeseeable circumstances
arising as a result of events beyond the control of the Partici-
pant. Withdrawals for foreseeable expenditures normally
budgetable, such as a down payment on a home or purchase of an
auto or college expenses, will not be permitted. The Committee
shall not permit withdrawal for unforeseeable emergency to the
extent that such hardship is or may be relieved:
(1) through reimbursement of compensation by insurance or
otherwise;
(2) by liquidation of the Participant's assets, to the extent
the liquidation of such assets would not itself cause severe
financial hardship; or
(3) by cessation of deferrals under the plan.
7.03 In no event shall the amount of a withdrawal for unforeseeable
emergency exceed the amount of benefits which would have been
available to the Participant at the time of withdrawal.
Notwithstanding any other provision of this Plan, if a Partici-
pant makes a withdrawal hereunder, the value of benefits under
the Plan shall be appropriately reduced to reflect such with-
drawal, and the remainder of any benefits shall be payable in
accordance with otherwise applicable provisions of the Plan.
VIII. LEAVE OF ABSENCE
A Participant on an approved leave of absence with or without Com-
pensation may continue to participate in the Plan subject to all the terms
and conditions of the Plan; provided further, Compensation may be deferred
for such Participant if such Compensation continues while the Participant
is on an approved leave of absence.
IX. NON-ASSIGNABILITY CLAUSE
Neither the Participant nor any other person shall have any right to
commute, sell, assign, pledge, transfer or otherwise convey or encumber the
right to receive any payments hereunder, which payments and rights thereto
are expressly declared to be unassignable and non-transferrable. Nor shall
any unpaid benefits be subject to attachment, garnishment or execution for
the payment of any debts, judgments, alimony or separate maintenance owed
by the Participant or any other person or be transferable by operation of
law in the event of bankruptcy or insolvency of the Participant or any
other person.
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X. AMENDMENT OR TERMINATION OF PLAN
10.01 The Employer may terminate or amend the prov1s1ons of this Plan
at any time; provided however, that no termination or amendment
shall affect the rights of Participants or their Beneficiaries
to the receipt of payment of benefits to the extent of any
Compensation deferred before the time of the termination or
amendment, as adjusted for investment experience under the
Annuity Contract prior to or subsequent to the amendment.
10.02 Upon termination of the Plan, the Participants in the Plan will
be deemed to have withdrawn from the Plan as of the date of
such termination. The Participant's full Compensation on a
non-deferred basis will be thereupon restored, and the Com-
mittee shall pay such benefit or benefits as otherwise provided
by and according to the terms of the Plan.
XI. PLAN-TO-PLAN TRANSFERS
This Plan shall accept for transfer amounts of Compensation previously
deferred pursuant to another "eligible" plan of deferred compensation
pursuant to Section 457 of the Code maintained by another Employer located
in this state.
XII. APPLICABLE LAW
The Plan shall be construed under the laws of the State of Texas.
AND IT IS SO ORDERED.
Passed by City Council on first reading this 13th day of March , 1986. --~~~------
Passed by City Council on second reading this 27th day of March ,
1986. -------
ALA
ATTEST:
APPROVED AS TO FORM:
Ross, Jr., City
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M2320-R163
THE STATE OF TEXAS
cor;..;TY OF LUBBOCK
Before me DorothY Russe II a Notarv Public in and for Lubbock Countv. Texas on this dav
personally appeared twi I a Aufill' Account Manaf:!er of the Southwestern Newsp~
pers CorJXlration. publishers of the Lubbock Avalanche-Journal -Morning. Evening and Sunday. who
being b~· me duly sworn did depose and say that said newspa_per has been published continuously for more
than f1fty-two weeks prior to the first insertion of this _....:L::..e ___ e....:a....:l_n_i_t_l_c_e ___________ _
----------,---..,........--,..--,----No. 746939 at Lubbock County, Texas and the attached print-
ed cop~> of the Lef:!a I notice is a true co~y of the original and WJIS printed in the Lubbock
Avalanehe-Journal on the following dates: March 29t APril 5, 1966
612 words @ 76t Per word= $465,12
Account Manaeer
LCBBOCK AVALA;..;CHE-.JOURNAL
Southwestern :"iewspapers Corporation
Subscribed and sworn to before me. this .1.:t.b_ day of _--~:~lfJt::..L..r .... i-~.1 __ _
,
FOR:\158-10
19___8.6_
•
AD~~
Notnry f't!bl\c In And For lh~ a 9 198tl/ My Commt<>~ivn Expires .,ov. • . LEI N.·.l·
AI\J QfiOJtt lNG ------------1 AM'tl~G~ ~ ..._,...,_,. ____________________________ __._ __ .0, $TRI!Sf. ft. ,
, Eii)'t AVENUE AND
ME . AVENUE IN THE CITY OF LUBBOCK, 'LUBBOCK
COUNTY, TEXAS. AND MORE
PARTICULARLY.. DESCRIBED
IN THE BODY OF THIS OROI·
NANCE: DIRECTING THE CITY ENGINEER TO MARK THE OF·
FICIAL MAPS OF THE CITY OF
LUBBOCK TO REFLECT SAID , ABANDONMENT lli.ND . CLO$-ING: PROVIOJNG A SAVINGS
, CLAUSE: AND PROVIDING F()R PUBI.ItATION. ' .•
ORDINANCE NO. 8901 AN ORDINANCE AMENDING
, CHAPTER 12 OF THE CODE OF ' ORDINANCES OF THE CITY OF ' LUBBOCK. TEXAS, WITH RE-
GARD . TO PERMIT ·· FEE
AMOUNTS FOR FOOD PROCESS-
ING. ESTABI.ISHMENTS SUB· JEC't: TO CAlLY FEDERAL OR STATE INSPECTION;. PROVIO.. lNG A PENAI.TY;.PROVIDINGA
. SAVINGS CLAUSE: .AND PRO·
'VI DING FOR PUBI.ICATION. i . . . ORDINANCE NO. 8902
> AN ORDINANCE AMENDING 'CHAPTERS I. AND 23 OF THE;
'CQOE OF ORDINANCES OF THE
CITY OF LUBBOCK, TEXAS
WITH REGARD TO THE· SUR: CHARGE AMOUNT FOR HAUL· lNG GARBA.GE AND REFUSE IN
AN UNCOVERED VEHICLE AND I MAKING THE OWNER-OR OP.'
ERATOR OF SUCH I,INCOV· ERED VEHICLE RESPONSI8f.E. FOR SUCH SURCHARGE l AMOUNT: PROVIWNG A PJ'i!N-
ALTY; PROVIOIN.G A $A'\IING$ .CLAUSE: AND PROVIOING FOR .PUBLICAT!Q!II. _____ .. ,,
-otttJtNAMCE NO.II'IOC . AN .ORDIIIIANCE AMENDING
ORDINANCE NO. 7809 OF THE ' cCITY OF LUBBOCK. WHICH OR•
OINANCE PROVIDeD · THE
PARTICUI.ARS OF · A DE•
FERRED cOMPENSATION
PLAN FOR CITY EMPLOYEES,
MOOII'YING AND CI-IANGING SAID ORDINANCE TO CON~
FORM TO ·CHANGES IN IRS
REGULATI&~~INANCE N0.1868
G. W.O. 9063 . AN OROINANCE. -CLOSING
HEARING ANO lEVYING. AS.
SESSMENTS FOR PART OF THE
COST OF·· IMPROVING A POR·. 'TION OF . THE . FOLLOWING
STREET: 82ND STREET FROM
UNliiERSITY AVENUE TO .AVE· NUE "U/' SUCH PORTION 8E·
lNG MORE PARTICULARLY
OESCRIBEO .IN. THE P•WING
ASSESSMENTS OF TI:IE CITY OF · LUBBOCK ATTA(:HEI:> HERETO AND .MADE: A PART ·
HEREOF. SAID PORTION OF I' SAID STREET BEING IN THE
'CITY OF LUBBOCK •. TEXAS, AND·. PROVIDING FOR THE CO\..LECTION OF SUCH. AS·
' SESSMENTS AND FOR THE 1$-l ' SUANCE OF ASSIGNABLE CER· TIFICATIONS IN . EVIDENCE 4
HEREOF. ALLOCATING FUNO$. II.
.R-163 .I