HomeMy WebLinkAboutO-2017-030 Authorize Expenditure Employer Contribution GE Pension $1M ORDINANCE NO. 2017-030
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, AUTHORIZING THE CITY EXPENDITURE OF THE
EMPLOYER CONTRIBUTION PORTION TO THE GENERAL EMPLOYEES
("GE") PENSION PLAN WHICH WILL EXCEED ONE MILLION DOLLARS
($1,000,000.00); PROVIDING FOR SEVERABILITY; PROVIDING FOR
CONFLICTS; FURTHER, PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, pursuant to Section 2, "Certain Expenditures" of Article 3, "Powers of the
City", of the City Code of Ordinances, the City Commission must, by ordinance approve any
expenditures of City funds that exceeds One Million Dollars ($1,000,000.00) after two (2)
advertised public hearings of the ordinance; and
WHEREAS, City staff anticipates that the employer contribution portion to the GE
Pension Plan will exceed the monetary threshold; and
WHEREAS, expenditures for employer contribution portion to the GE Pension Plan will
be expected to exceed One Million Dollars ($1,000,000.00)per fiscal year for a number of years;
therefore, this Ordinance authorizes such expenditures which are made in future budgets for
future fiscal years;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH, FLORIDA:
Section 1. That the proper City officials are authorized to expend more than One
Million Dollars ($1,000,000.00) relating to employer contribution to be paid to the GE Pension
Plan.
Section 2. That the expenditures for the employer contribution to the GE Pension
Plan are expected to exceed the One Million Dollar ($1,000,000.00) threshold in future fiscal
year budgets for a number of years, and, therefore, this Ordinance authorizes such expenditures
which are made in future budgets for future fiscal years.
Section 3. That if any section, clause, sentence or phrase of this Ordinance is for any
reason held invalid or unconstitutional by a court of competent jurisdiction, the holding shall not
affect the validity of the remaining portions of this Ordinance.
Section 4. That all ordinances or parts of ordinances in conflict with the provisions of
this Ordinance are repealed.
Section 5. That this Ordinance shall take effect immediately at the time of its passage
and adoption.
PASSED on first reading on August 22, 2017.
PASSED AND ADOPTED on second reading on September 12, 2017.
ATTEST:
��OvPIARD S Fj�r
LOUISE STILSON, CMC AMARA JANn ',1,7
CITY CLERK l AYOR
APPROVED AS TO FORM A D CORRE
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THOMAS . ANS RO
CITY ATTORN
2 ORDINANCE#2017-030