HomeMy WebLinkAboutCity of Tamarac Resolution R-79-280Introduced by: Mayor Falck
Temp.#1478
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R- 79-240
A RESOLUTION APPROVING A PROPOSAL OF A NEW
GUARANTEE ARRANGEMENT FOR THE EMPLOYEE'S
RETIREMENT PLAN WITH EQUITABLE LIFE ASSURANCE
SOCIETY, AND AUTHORIZING EXECUTION BY THE
APPROPRIATE CITY OFFICIALS.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA:
SECTION 1: That the Guarantee Arrangement for the Employee's
Retirement Plan shall be amended as follows:
The Guaranteed Interest Rate will be:
(a) 10.25% from January 1, 1981 through the end of the
Guarantee Period defined in this proposal and
(b) An increased rate of 10.75% from the first day of the
calendar month following acceptance of this offer by
the City through December 31, 1980.
All funds will be made available for a new funding arrangement
or will be returned to the Plan trustees, at full book value,
at the end of the Guarantee Period.
SECTION 2:
That the Appropriate City Officials are hereby
authorized to execute the Proposal for a new Guarantee Arrangement
of the Employee's Retirement Plan.
PASSED, ADOPTED AND APPROVED this the day of December, 1979.
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I HEREBY CERTIFY that I have RECORD OF COUNCIL VOTE
approved the form and correctness MAYOR:
of this RESOLUTION —
DISTRICT 1:
1 �•-T DISTRICT 2:
CITY ATTORNEY DISTRICT 3:
DISTRICT 4: