HomeMy WebLinkAboutO-1965-479 ORDINANCE NO. 1
AN ORDINANCE AMENDING ORDINANCE NO. 470 OF
CITY OF DANIA, FLORIDA, WHICH WAS ADOPTED ON
FINAL READING ON OCTOBER 19, 1964, BY ADDING
A PARAGRAPH, TO BE DESIGNATED PARAGRAPH
15. 3, TO ARTICLE XV, AND BY ADDING A PARAGRAPH
AND ARTICLE, TO BE DESIGNATED PARAGRAPH 16. 1,
ARTICLE XVI; AND PROVIDING THAT ALL OTHER PRO-
VISIONS OF SAID ORDINANCE NO. 470 SHALL REMAIN
IN FULL FORCE AND EFFECT; AND REPEALING ALL
ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT
HEREWITH; AND PROVIDING THAT THIS ORDINANCE
SHALL BE IN FORCE AND EFFECT IMMEDIATELY
UPON ITS FINAL PASSAGE AND ADOPTION.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF
DANIA, FLORIDA:
Section l: That Ordinance No. 470 of City of Dania, Florida,
which was adopted on final reading on October 19, 1964, be and the same is
hereby amended by the addition of a paragraph, to be designated as Para-
graph 15. 3 of Article XV, which shall read as follows:
Paragraph 15. 3 In the event the contributions of the City are
discontinued or suspended as of any anniversary
date on which the full current costs, as defined
in Income Tax Regulations 1. 401-4(c)(2), have
J�. not been met, the earned pension to such date
for all participants shall become fully vested to
the extent herein provided for termination of
this plan.
Section 2: That Ordinance No. 470 of City of Dania, Florida,
which was adopted on final reading on October 19, 1964, be and the same is
hereby amended by the addition of a paragraph and article, to be designated
as Paragraph 16, 1, Article XVI, which shall read as follows:
ARTICLE XVI
Miscellaneous Provisions
Paragraph 16. 1 It shall be impossible, at any time prior to the
satisfaction of all liabilities with respect to the
employees and their beneficiaries under this plan,
for any part of the corpus or income to be used
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for, or diverted to, purposes other than for
the exclusive benefit of the City's employees
jor their beneficiaries; and the City shall not
be entitled to receive back any part of its con-
tributions to the trust. Any funds arising from
forfeitures, dividends, or return of premium,
because of the termination of service of a par-
ticipant or for any other reason, shall be used
to reduce the amount of contributions by the City
' in the current year or subsequent years.
Section 3: That all other provisions of said Ordinance No. 470 shall
remain in full force and effect.
Section 4: That all ordinances or parts of ordinances in conflict
herewith be and the same are hereby repealed to the extent of such conflict.
Section 5: That this ordinance shall be in force and effect immediately
upon its final passage and adoption.
BY UNANIMOUS CONSENT OF ALL COMMISSIONERS PRESENT
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this ordinance has been introduced, read the first time, read by title only
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the second and third times, and passed on all three readings at the meeting
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of the City Commission held on April 27, 1965.
J ` L, z
Mayor-CorAmissioner
Attest:
ity Clerk-Auditor
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