HomeMy WebLinkAboutordinance.council.052-76RECORD OF PROCEEDINGS
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ORDINANCE NO. ~
AN AMENDMENT TO SECTION 2-4-17(c) OF THE
CITY OF ASPEN POLICE RETIRE~IENT PLAN WHICH
WILL PERMIT TERMINATING POLICE OFFICERS
TO RECEIVE A REFUND OF THEIR CONTRIBUTIONS
TO THE FUND IN A LUMP SUM OR INSTALLMENT
PAYMENTS
WHEREAS, the City Council is convinced that often
terminating police officers are better served by receiving
their pension refunds in a lump sum, and that providing this
opportunity for lum sum payment, if exercised, will eliminate
unnecessary administration costs with respect to the plan.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL
OF THE CITY OF ASPEN, COLORADO:
Section 1
That Section 2-4-17(c) of the City of Aspen Police
Retirement Fund is repealed and re-enacted to read as follows:
(c) Refund of a member's payment as provided
hereinabove shall be made in 12 equal monthly
installments or in a lump sum payment, at the
election of the member; provided, however, that
if a member's contribution totals $200.00 or less
a lump sum distribution shall be made.
Section 2
If any provision of this ordinance or the appli-
cation thereof to any person or circumstance is held invalid,
such invalidity shall not affect other provisions or appli-
cations of the ordinance which can be given effect without
the invalid provisions or applications, and to this end the
provisions or applications of this ordinance are declared
to be severable.
RECORD OF PROCEEDINGS
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Section 3
A public hearing on the ordinance shall be held
on the ~? day of ,~,~2~-~'~./~c ~. , 1976, in
the City Council Chambers, Aspen City Hall, Aspen, Colorado.
INTRODUCED, READ AND ORDERED published as provided
by law by the City Council of the City of Aspen, Colorado,
at their regular meeting held ~,~/C~.~ ~ ~ ~ ~ /:~;/ ,
1976.
ATTEST:
Kathryn S~Hauter
City Clerk
FINALLY APPROVED AND ADOPTED by the Aspen City
Council on
ATTEST:
--Sta~cy S~andley I~
Mayor [ ~
Kathryn SJHauter
City Clerk
-2-
RECORD OF PROCEEDINGS
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STATE OF COLORADO )
)
COUNTY OF PITKIN )
SS. CERTIFICATE
I, Kathryn S. Hauter, City Clerk of Aspen,
Colorado, do hereby certify that the above and foregoing
ordinance was introduced, read in full, and passed on
'~ reading at a regular meeting of
the
City Council of the City of Aspen on ~~ /5
197 ~, and publi~hled in ~e Aspen Times~$/~''
__ a weekly newspaper
of general circulation, published in the City of Aspen,
Colorado, in its issue of ~ 0/~ , 197__~,
and was finally adopted and approved at a regular meeting
of the City Council on ~7~~ =~ , 197&,
and ordered published as Ordinance No. =~-~ , Series of
197~, of said City, as provided by law.
IN WITNESS WHEREOF, I have hereunto set my hand
and the seal of said City of Aspen, Colorado, this O~~
day of ~~,~a~ , 197~.
Kathr~45 S. Hauter
City Clerk