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ORD 1998-22TOWN OF TROPHY CLUB, TEXAS ORDINANCE NO. 9 6 — 2 AN ORDINANCE OF THE TOWN OF TROPHY CLUB, TEXAS PROVIDING FOR THE PARTICIPATION IN THE TEXAS MUNICIPAL RETIREMENT SYSTEM AND THE SUPPLEMENTAL DEATH BENEFITS FUND BY THE TOWN OF TROPHY CLUB, TEXAS; PROVIDING A SEVERABILITY CLAUSE; PROVIDING AN EFFECTIVE DATE. WHEREAS, Subtitle G of Title 8 of the Government Code, as amended (hereinafter referred to as the "TMRS Act"), relating to the Texas Municipal Retirement System, authorizes the governing body of each city or town to elect, at its option, to have one or more of the city departments participate in such System; and WHEREAS, the Town Council of the Town of Trophy Club, Texas, finds that it will be in the public interest for the Town to have its employees participate in the Texas Municipal Retirement System as hereinafter provided; now, therefore, NOW THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF TROPHY CLUB, TEXAS: Section 1. The Town Council of the Town of Trophy Club, Texas, on behalf of said Town, hereby exercises its option and elects to have the Town and all of the employees of all departments now existing and those hereafter created participate in the Texas Municipal Retirement System as provided in the TMRS Act. Section Z. The Town Manager is hereby directed to notify the Board of Trustees of the Texas Municipal Retirement System that the Town has elected to participate and have the employees of the Town covered in said System. Section 3. Each person who becomes an employee of a participating city on or after the effective date of participation of such city whose position shall require more than 1,000 hours per year shall become a member of the Texas Municipal Retirement System as a condition of their employment. Section 4. In accordance with the provisions of the TMRS Act, the deposits to be made to the Texas Municipal Retirement System on account of current service of the employees of the several participating departments are hereby fixed at the rate of 5 percent (5%) of the full earnings of each employee of said departments. Section 5. Each employee who qualifies for such credit shall be allowed "prior service credit" (as defined in Section 853.101 of the TMRS Act) at the rate of one hundred percent (100%) of the "base credit" of such member, calculated in the manner prescribed in Section 853.105 of said Act. DOC #: 609703 -1- Section 6. For each month of current service rendered to this Town by each of its employees who are members of the Texas Municipal Retirement System, the Town will contribute to the current service annuity reserve of each such member at the time of his or her retirement, a sum that is 150 % (100, 150, or 200) of such member's accumulated deposits for such month of employment, and said sum shall be contributed from the Town's account in the municipality accumulation fund. Section 7. The Town Secretary is hereby directed to remit to the Board of Trustees of the Texas Municipal Retirement System, at its office in Austin, Texas, the Town contributions to the System and the amounts which shall be deducted from the compensation or payroll of employees, all as required by said Board under provisions of the TMRS Act, and the said official is hereby authorized and directed to ascertain and certify officially on behalf of this Town the prior service rendered to the said municipality by each of the employees of the participating departments, and the average prior service compensation received by each of the employees of the participating departments and make .and execute all prior service certifications and all other reports and certifications which may be required of the Town under the provisions of the TMRS Act, or in compliance with the rules and regulations of the Board of Trustees of the Texas Municipal Retirement System. Section 8. .That the Town hereby elects to participate in the Supplemental Death Benefits Fund of the Texas Municipal Retirement System for the purpose of providing in-service death benefits for each of the Town's employees who are members of said System, and for the purpose of providing post -retirement death benefits for annuitants whose last covered employment was as an employee of the Town, in the amounts and on the terms provided for in Sections 852.004, 854,601 through 854.605, 855.313, 855.314, 855.408, and 855.502 of Title 8 Subtitle G, of the Texas Government Code, as amended. Section 9. The Town is hereby authorized and directed to notify the Director of the System of adoption of this ordinance, and of the participation of the Town in said Fund. Section 10. If any section, article, paragraph, sentence, clause, phrase or word in this Ordinance or application thereof to any person or circumstance is held invalid or unconstitutional by a Court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of this Ordinance, and the Town Council hereby declares it would have passed such remaining portions of this Ordinance despite such invalidity, which remaining portions shall remain in full force a14a .F'.ff t _ ili. �. L. - Section 11. This Ordinance shall become effective from and after its date of adoption and publication as required by law. noc n' 609703 -2- PASSED AND APPROVED by the Town Council of the Town of Trophy Club, Texas this the 21stciay of July , 1998. Town of Trophy Club, Texas ;Mayor Pro Tem ATTEST: Town Secretary, Town of Trophy Club, Texas [SEAL] APPROVED AS TO FORM: X /�- Town A rney, Town o Trophy Club, Texas DOC #: 609703 -3-