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Resolution 067304 'Y CITY OF ALAMEDA RESOLUTION NO. 6730 SUBMITTING AN ORDMANCE AMENDING ORDINANCE NO. 1O79, NEW SERIES, ENTITLED, ”AN ORDINANCE ESTABLISHING A RELIEF, PENSION AND INSURANCE SYSTEM FOR MEMBERS OF IRE POLICE AND FIRE DEPARTMENTS OF THE CITY CY ALAMEDA., AND REPEALING ORDINANCE NO. 276, NEW SERIES, AS AMENDED," TO BE VOTED UPON AT THE GENERAL MUNICIPAL ELECTION TO BE HELD IN THE CITY OF ALAMEDA ON TUESDAY MARCH 9 1965. WHEREAS, the Council of the City of Alameda, on its own motion, desires to submit to the voters of said City an ordinance amending Ordinance No. 1079, New Series, entitled, "An Ordinance Establishing a Relief, Pension and Insurance System for Members of the Police and Fire Departments of the City of Alameda, and Repealing Ordinance No. 776, New Series. as Amended," to be voted upon at the General. Municipal Election to be held in the City of Alameda on Tuesday, March 9, 1965, NOW, THEREFORE, 3r. 15 RESOLVED BY THE COUNCIL OF THE CITY OF ALAMEDA that an ordinance amending Ordinance Nc. 1079, New Series, be submitted to the voters of said City at said election in words and figures as follows, to wit: ORDINANCE NO. New Series AN ORDINANCE AMEND' C ORDINANCE NO. 1079, NEU SERIES, ESTABLISHING A RELIEF, 'PENSION AND INSURANCE SYSTEM FOR MEMBERS OF THE POLICE AND FIRE DEPARTMENTS OF THE CITY OF ALAMEDA, AND REPEALING ORDINANCE NO. 276, NEW SERIES, AS AMENDED BE II ORDAINED BY THE PEOPLE CF THE CITY OF 0 ALAMEDA as follows: SECTION 1. Section 7 of Ordinance No. 1079, New Series, relating to and entitled, 'Contributions to Pension Fund by the City," is hereby amended to read as follows: Section 7. Contributions 'o Pension Fund b., the City. There shall be paid into the Pension Fund by the City of Alameda annually, from and after July 1, 1953, an amount which, together with the assets uf the Pension Fund, including the contributions to be made by the remaining active members, shall be sufficient to meet all current claims against said Pension Fund, and an amount which is determined actuarily to be sufficient to amortize the fund over the lifetime of members and beneficiaries, the accrued and prospective liabilities pertaining to the active and retired members covered by the provisions of this ordinance, and all other claims against said Pension Fund. The present and future claims of alt persons now receiv- ing pension or disability payments pursuant to the provisions of Ordinance No. 276, New Series, as amended, are and shall continue to be claims against, and shall be paid from, said Pension Fund created by this ordinance. The City shall further appropriate and pay annually a sum sufficient to pay the administrative expenses of the Board, the amount of which appropriation shall be based on estimates of such expense furnished by the Board. The amount to be due from and paid annually by the City to the Pension Fund under the terms of this section shall be the amount fixed and determined by the Board each year, in fixing and determining said amount, the Board shall give due consideration to the valuation of the Pension Fund made by the actuary prior to the commencement of the amortization period and the revised periodical valuations which the Board shall cause to be made at the end of each fifth (5th) year of the amortiza- tion period, or at such lesser periods as the Board may deem necessary. Said valuations so made by the actuary shall take into account the present liabilities accrued and to accrue to persons now drawing pension or retirement payments under Ordinance Na. 276. New Series, as amended, the contributions of members, the interest to accrue to the fund, the compensation experience of members, the probabilities of separation by all causes, of members from service, and of death after retirement. SECTION 2. This ordinance shall be in full force and effect ten (11) days from and after the date of its adoption. BE IT FURTHER RESOLVED that the title and statement of the proposition for the adoptior . of the aforesaid ordinance, as the same shall appear on the ballot to be used at said municipal election be, and the same hereby is, prescribed to read substantially as fnilows: PROPOSITION 1 Shall Ordinance No. 1079, New Series, entitled, "An Ordinance Establishing a Relief, Pension and Insurance System, for Merrbers of the Police and Fire Departments of the City of Alameda, and Repealins Ordinance No. 276, New • YES . Series, as Amended,- BE AMENDED, with respect to Section 7 thereof, by (a) eliminating the amortization date of 'July 1, 1983," therefrom, and (6) providing that the Board may cause actuarial valuations of the Pension Fund , NO . to he made at lesser periods than at the end of each fifth (5th) year of the amortization period? BE IT FCRTHEI: RESOLVED that each voter may vote on said proposed ordinance. To vote in favor of said proposal, a voter shall stamp a cross (X) in the blank space opposite the word 'YES" on the ballot, and to vote against said proposal a voter shall stamp a cross (X) in the blank space opposite the word "NCT on the ballot, If said proposal submitted receives a majority of the votes cast on it at said election, the said ordinance shall be enacted accordingly. BE IT FURTHER RESOLVED that the City Clerk cf the City of. Alameda is hereby authorized and directed to cause said proposed ordinance to be printed and to mall a copy thereof, coed in an envelope with the sample ballot, to each voter at least ten. (1C) days prior to said election. * * * * * * * * * the undersigned, hereby certify that the foregoing Resolution was duly and regularly introduced and adopted by the Council. of the City of Alameda in regular meeting assembled on the 5th day of January, 1965, by the following vote, to wit: AYES: Councilmen Freemae, La Croix, jr., McCall, Rose and President Godfrey, (5). NOES: None, ABSENTt None« IN WITNESS WHEREOF, I have hereunto set my hand and affixed the ofliclal seal of said City this 6th day of January, 1965« (91 \3) SHIRLEY H. TENNTER City Clerk of the City of Alameda T hereby certify that the foregoing is a full, true and correct copy of ”City nf Alameda Resolution No. 6730, SUBMITTBG AN ORDINANCE AMENDING ORDINANCE 50. 1079, NEW SERIES, 03' [10000 'AN 09057 9900 ESTABLISHING A RETLTE,F, PENSION AND 19,099901, SYSTEM FOR MEMPERS OF THE POLICE AND FIRE DEPARTMENTS OF THE CITY OE ALANIEVA, AND REPEALING ORDINANCE NO. 276, ita SERIES, AS AMENDED,' TO 3L VOTED UPON AT THE GENERAL MUNICIPAL ELECTION TO BE HELD IN THE CITY OF ALAMEDA ON TUESDAY, MARCH 9, 1965,' introduced and adopted by the Council on the 5th day of January, 1963. 0.°,...-1,he City 0 Alameda