ORD 2010-33TOWN OF TROPHY CLUB, TEXAS
ORDINANCE NO. 2010-33
AN ORDINANCE OF THE TOWN OF TROPHY CLUB, TEXAS,
AUTHORIZING THE TOWN TO MAKE CURRENT SERVICE AND
PRIOR SERVICE CONTRIBUTIONS TO THE TOWN'S ACCOUNT IN
THE MUNICIPAL ACCUMULATION FUND OF THE TEXAS MUNICIPAL
RETIREMENT SYSTEM AT THE ACTUARIALLY DETERMINED RATE
OF TOTAL EMPLOYEE COMPENSATION; PROVIDING FOR THE
INCORPORATION OF PREMISES; PROVIDING FOR ENGROSSMENT
AND ENROLLMENT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Town of Trophy Club (hereinafter 'Town"), is a participating
municipality in the Texas Municipal Retirement System (hereinafter "System"), and has
undertaken to provide certain retirement death and disability benefits to all its
employees pursuant to Subtitle B, Title 8, Government Code, (hereinafter, the "TMRS
Act"); and
WHEREAS, In 2009, during the 81 5t Legislative Session, the Texas House and
Senate unanimously voted to make several changes to the System to ensure its long-
term future soundness, including changes in the System's investment program, as well
as, actuarial methodology; and
WHEREAS, updates were completed in the summer of 2010 and require
member cities/towns to approve an ordinance incorporating the changes by January 1,
2011; and
WHEREAS, the Town Council desires to adopt this Ordinance taking action
necessary to authorize contributions to the Town's account in the Municipal
Accumulation Fund of the Texas Municipal Retirement System at the actuarially
determined rate.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS:
Section 1. Incorporation of Premises. The above and foregoing premises are
true and correct and are incorporated into the body of this Ordinance and made a part
hereof for all purposes.
Section 2. Municipal Accumulation Fund of TMRS. Pursuant to Section
855.407(g) of the TMRS Act, the Town hereby elects to make future normal and prior
service contributions to its account in the municipal accumulation fund of the System at
such combined rate of the total compensation paid by the Town to employees who are
members of the System, as the System's actuary shall annually determine as the rate
necessary to fund, within the amortization period determined as applicable to the Town
Ordinance 2010-33 1
under the TMRS Act, the costs of all benefits which are or may become chargeable to
or are to be paid out of the Town's account in said accumulation fund, regardless of
other provisions of the TMRS Act limiting the combined rate of Town contributions.
Section 3. Engrossment and Enrollment. The Town Secretary of the Town of
Trophy Club is hereby directed to engross and enroll this Ordinance by filing this
Ordinance in the ordinance records of the Town as required in the Town Charter.
Section 4. Effective Date. This Ordinance shall take effect on January 1,
2011, and it is so ordained.
PASSED AND APPROVED by the Town Council of the Town of Trophy Club,
Texas, this 6th day of December.
ATTEST:
'Shannon DePrater, Interim Town Secretary
Town of Trophy Club, Texas
APPROVED AS TO FORM:
Patricia A. Adams, Town Attorney
Town of Trophy Club, Texas
Ordinance 2010-33
Connie White, Mayor
Town of Trophy Club, Texas
[SEAL]
2