Ordinance No. 11,529ORDINANCE NO. 11,529
AN ORDINANCE OF THE CITY COUNCIL OFTHE CITY Ol"BAYTOWN,14-XAS,
AUTHORIZING THE PAYMENT fN THE AMOUNTOF EIG HTYTHOU SAN 1) AND
NO/100, DOLLARS ($80,000.001) TO 1-1-JE TEXAS MUNICIPAL RETIREMENT
SYSTEM ("TMRS") TOWARDS THE TMRS EIGHT YEAR PI1ASE-IN/CATCH-uP
PROVISION; AND PROVIDING FORTHE 1,H]"FECTIVE DATE 'FIIEREOF.
WHEREAS, in 2007, 'I'MRS changed its methodology for calculating its rates, which resulted in
increased rates for all participating, municipalities; and
WHEREAS, the City of Baytown is phasing in tile new TMRS rate over an eight-year period; and
WHEREAS, in Fiscal Year 2010, the City anticipate(], budgeted and realized TMRS savings,
which allows the City to send a separate IL11111) SUM payn'lent to 'I'MRS to reduce the 2012 projected
TMRS rate in accordance with 34 'rAC § 125,7; and
WHEREAS, the City Council of the City of Baytown desires to make the payment to reduce
I'MUNTMRS rates; NOW THEREFORE,
BE IT ORDAINED BYTI-113 CITY COUNCIL OFTHE CITY OF BAYTOWN,TEXAS:
Section 1: That the City Council of' the City of Baytown, Texas, hereby authorizes the
payment in the amount of EIGI-Vf'Y TI IOUSAND AND NO/ 100 DOL.LARS ($80,(E00,00) to the Texas
Municipal Retirement. System towards the Eight Year Phase-iii/Catch-up Provision for Calendar Year
2012.
Section 2: ]'his ordinance shall take effect immediately fi-om and after its passage by the
City Council of the City of Baytown.
"o , gl%4111 11
4r 4m
wt
R,'Q' 0�
INTRODUCED, READ and PASSED by the affirmative V the City Council of the City of
a this the 30"' day of December, 20 10. 7�' //
%NCI
IA scl-1, city Cl.
PROVED AS 'F0 FORM:
ACID RAMIREZ, SR.,
m
Attorney
W`,K arch T0e-s%Cky Council"Ordinances',20 10"9'ieum4aer
S%r.I1 I I EN 11. DONCARLOS,