2001-313 o,mr cE NO 001- /b
AN O ^SCE LOW O CERTaI EMPLOYEES .AW
TE~ATED P~VIOUS ME~ERSHIPS ~ THE TEXAS ~ICIPAL ~T~MENT
SYSTEM, TO DEPOSIT THE S~S SO ~THD~, PLUS A~ ~T~WAL
C~GES, ~ ALLOW~G A~ ~ERT~NG THE COST OF ~LO~G ~
SUCH E~LOYEE C~DIT ~ SUCH SYSTEM FOR ALL SERVICE TO ~ICH SUCH
EMPLO~E ~ BEEN ENTITLED AT DATE OF SUCH WlTHD~WAL, ~TH LI~
EFFECT AS IF ALL SUCH SERVICE H~ BEEN PE~O~ED AS AN EMPLOYEE OF
THIS CITY, A~ PROVID~G FOR ~ EFFECTIVE DATE
~E~AS, ~e acm~ of the Texas M~c~pal Retirement System has determed ~at
all obhga~ons ch~ged agmnst ~e C~'s ~count m ~e m~m~pahty accmulat~on ~d,
~ncludmg the obhga~ons rasing ~ a result of th~s ord~nmce, cm be funded by the C~ty w~n ~ts
m~mm conmbutlon rate ~d w~thm ~ts moa~zat~on period, md
~E~AS, the C~ Co.cfi has determed that adoption of tNs ord~nmce ~s m ~e
best ~nterests efta C~ty, ~d
~E~AS, the C~ty Co.cfi of the C~ty of Denton, Texas, finds that ~t will be ~n the
pubhc ~nterest for ~e C~ty to have ~ts employees p~m~pate ~n the Texas M~tmpal Retirement
System as heremaR~ provided, NOW, THE~FO~,
THE CO~CIL OF THE CITY OF DENTON HE.BY O~S
SECTION 1 P~su~t to Section 853 003 of Subtitle G of Tttle 8, V T C A,
Gove~ent Code, as mended, ~e City of Denton hereby elects to allow ~y member of the
Tex~ M~mlpal Retirement Systm who 1s ~ employee of tNs C~ty on ~e 4~ day of
September, 2001, who has resonated a prewous membersNp m smd System by ~thdrawal of
deposits while abs~t ~om se~me, but who h~ at least 24 months of credited s~me ~ ~
employee 0ftNs C~ty since resining membership to deposit w~ the System m a lmp sum the
mo~t w~th~a~, plus a w~th~aw~ eh~ge of five percent (5%) of such mo~t for each ye~
~om date of such w~awal to date of redeposit, ~d thereupon such member shall be allowed
credit for all se~ace to whmh ~e member had been entitled at date of tem~nat~on of e~ller
membership, Wl~ hke effect ~ frill such semce h~ been rendered ~ ~ employee of~s C~ty,
whether so rendered or not The C~ty a~ees to ~de~nte ~d hereby ~sumes the obhgat~ons
~mmg out :of ~e ~tmg of all such credits, ~d a~ees that all such obhgat~ons ~d rescues
reqmred t~ prowde such credits shall be ch~ged to tNs C~ty's accost ~n the m~m~pahty
acemulat~on f~d The five percent (5%) per ~um w~awal ch~ge prod by ~e member
shall be depomed to the credit of the C~'s accost ~n smd m~c~pah~ aecumulatmn ~nd, ~d
the deposits of the mo~t prewously ~th~awn by the member shall be credited to Ns or her
~nd~vldual accost m ~e employees' savings fund of the System
SECTION 2 TNs ordinate sh~l become effective on the ist day of J~u~ 2002,
which ~s a date on or a~er ~e date set fo~ m Section 1, above
EULINE BROCK, MAYOR
ATTEST
JENNIFER WALTERS, CITY SECRETARY
APPROVED AS TO LEGAL FORM
HERBERT L PROUTY, CITY ATTORNEY