Agenda Item # 10.b.
City Commission Regular Meeting
- Meeting Date:
- 01/21/2014
- Re
- Ordinance No: 14-002; Amendment to Chapter 13 for 185 Police Board
- Submitted For:
- Gloria Johnson
SUBJECT:
Ordinance No: 14-002; An Ordinance of the City Commission of the City of Fort Pierce, Florida amending Chapter 13, POLICE OFFICERS RETIREMENT TRUST FUND. FIRST READING
SUMMARY:
The Fort Pierce Police Officer Pension Fund (185) wishes to amend its Pension Ordinance to allow for greater flexibility to invest its assets. The amendment of Chapter 13 of the Code is to amend Section 13-165 (e) entitled Records, Accounts, Disbursements, Deposits, Contributions; actions to permit the Board to use its discretion to invest and reinvest the moneys of the fund.
RECOMMENDATION:
Adopt Ordinance No. L-14-002 amending Chapter 13 of the Code.
ALTERNATIVES:
Deny the amendment to the Code.
RESPONSIBLE STAFF:
Finance Director and City Clerk
COORDINATED WITH:
Office of the City Attorney, Jim Walker, Assistant City Attorney and Law Offices of Perry & Jensen, LLC (Police Officers’ Retirement 185 Fund Legal Council)
Fiscal Impact
- Budgeted Y/N:
- Fiscal Year:
- Account:
- Amount:
OTHER INFORMATION:
n/a
- Budgeted Y/N:
- n
- Fiscal Year:
- Account:
- Amount:
OTHER INFORMATION:
NA