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2010-02-CCITY OF CLERMONT ORDINANCE NO.20i0-02-C AN ORDINANCE OF THE CITY COUNCIL OF TIIE CITY OF CLERIVIONT, LAKE COUNTY, FLORIDA, AMENDING CHAPTER 46, "PENSIONS AND RETIREMENT", ARTICLE V, DIVISIONS 1 AND 2 OF THE CITY CODE BY AMENDING SECTION 46-2Q3, "BOARD OF TRUSTEES" TO DELETE THE REQUIREMENT A CITY COUNCIL MEMBER SHALL BE AN APPOINTED MEMBER OF THE POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES AND AMENDING SECTION 4b-253, "BOARD OF TRUSTEES" TO DELETE THE REQUIREMENT THAT A CITY COUNCIL MEMBER SMALL BE AN APPOINTED MEMBER OF THE FIREFIGHTERS RETIREMENT PLAN BOARD OF TRUSTEES, PROVIDING FOR CODIFICATION, SEVERABILITY, CONFLICT, AND EFFECTIVE DATE. NOW THEREFORE, BE IT ORDAINED BY the City Council of the City of Clermont, Florida, as follows: Secti©n i. Section 46-203, "Board of Trustees, of the City Code of the City of Clermont is amended to read as follows: See. 46-2Q3. Board of trustees. ~a} The sole and exclusive administration of and responsibility for the proper operation of the plan is hereby vested in a board of trustees. These trustees shall be selected according to § 175.Ob1 (1~(b), Florida Statutes, and § 185.(35, {1}{b), Florida Statutes. Each board of trustees shall be a legal entity with, in addition to other powers and responsibilities contained herein, the power to bring and defend lawsuits of every kind, nature, and description. Accurate and detailed accounts of all board meetings must be kept. All accounts, books and records relating thereto shall be open to inspection and audit in accordance with general law. The board shall issue such reports as are requested and rriake available to the sarr~e for inspection any and all records and accounts which are deemed appropriate in order to comply with governmental regulations issued thereunder. 1 CITY OF CLERMONT ORDINANCE NO.2010-02-C {b} The board members shall, by a majority vote, elect a chairman and a secretary. The secretary of the board shall keep a complete minute boob of the actions, proceeding, or hearings of the board. The board members shall not receive any compensation as such, but may receive expenses and per diem as provided bylaw. {c) Each board member shall be entitled to one vote on the board. A majority of the board shall be necessary for any decision of the board. A board member shall have the right to abstain froh voting as the result of a conflict of interest provided that board member states in writing the nature of the conflict and complies with the provisions of § 112.3143, Florida Statutes. {d) The board of trustees shall engage such actuarial, accounting, legal, and other services as shall be required to transact the business of the plan. The compensation of all persons engaged by the board and all other expenses of the board necessary for the operation of the plan shall be paid from the fund at such rates and in such amounts as the board of trustees shall approve. {e) The duties and respons1b11rt1es of the board of trustees shall include, but not necessarily be limited to, the fallowing: {l) To construe the provisions of the plan anti determine all questions arising thereunder. {2) To determine all questions relating to eligibility and participation. {3) To determine the amount of all benefits hereunder. {4~ To establish uniform rules and procedures to be followed for administrative purposes, benefit applications, and all hatters required to administer the plan. {5} To distribute to participants, at regular intervals, information concerning the plan. {6} To receive and process all applications for participation and benefits. 2 CITY OF CLERMONT ORDINANCE N0.2014-02-C (7j Ta authorize all payments whatsoever from the fund, and to notify the disbursing agent, in writing, of approved benefit payments and other expenditures arising through operation of the plan and fund. ~sj To have performed actuarial studies and at least triennial valuations, as required by law, and make recommendations regarding any and all changes in the provisions of the plan. {~j To perform such other duties as required to administer the plan. {10} Arrange for and select physicians for medical exams and review and advise on medical disability eligibility issues. (1 I j Invest and reinvest the assets of the fund. (12) At least once every three years, the board shall retain a professionally qualified independent consultant who shall evaluate the performance of any existing professional money manager and shall make recommendations to the board regarding the selection of money managers for the next investment term. These recommendations shall be considered by the board at its next regularly scheduled meeting. Section 2. Section ~~-253, "Board of 'T'rustees, of the City Code of the City of Clermont is amended to read as follows: Sec. 4b-253. Board of trustees. (aj The sole and exclusive administration of and responsibility for the proper operation of the plan is hereby vested in a board of trustees. These trustees shall be selected according to § 175.061 (l j{bj, Florida Statutes, and ~ l$5.05 (1j(bj, Florida Statutes. Each board of trustees shall be a legal entity with, in addition to other powers and responsibilities contained herein, the power to bring and defend lawsuits of every kind, nature, and description. Accurate and detailed accounts of all board meetings must be kept. All accounts, books and records relating tl-iereto shall be open to inspection and audit in accordance with general law. The board shall issue such reports as are requested and mare available to the sarr~e far inspection any and all records and accounts whicl-~ are dee=ned appropriate in order to comply with governmental regulations issued thereunder. 3 CITYOF CLER11~I01V'I' ORDINANCE NO.2010-02-C fib} The board members shall, by a majority vote, elect a chairman and a secretary. The secretary of the board shall keep a corr~plete minute book of the actions, proceeding, or hearings of the board. The board members shall not receive any compensation as such, but may receive expenses and per diem as provided by law. {c} Each board member shall be entitled to one vote an the board. A majority of the board shall be necessary far any decision of the board. Aboard member shall have the right to abstain from voting as the result of a conflict of interest provided that board member states in writing the nature of the conflict and complies with the provisions of § 112.3143, Florida Statutes. ~d} The board of trustees shall engage such actuarial, accounting, legal, and other services as shall be required to transact the business of the plan. The compensation of all persons engaged by the board and all other expenses of the board necessary far the operation of the plan sha11 be paid from the fund at such rates and in such amounts as the board of trustees shall approve. (e} The duties and responsibilities of the board of trustees shall include, but not necessarily be limited ta, the following: (1} To construe the provisions of the plan and determine all questions arising thereunder. ~2} To determine all questions relating to eligibility and participation. {3} To determine the amount of aI1 benefits hereunder. {4} Ta establish uniform rules and procedures to be followed far administrative purposes, benefit applications, and all matters required to administer the plan. (5} Ta distribute to participants, at regular intervals, information concerning the plan. {6} Ta receive and process all applications far participation and benefits. 4 CITY CF CLERMONT ORDINANCE NO.2010-OZ-C {7) To authorize all payments whatsoever from the fund, and to notify the disbursing agent, in writing, of approved benefit payments and other expenditures arising through operation of the plan and fund. {8) To have performed actuarial studies and at Least triennial valuatians, as required by law, and make recornrnendations regarding any and all changes in the provisions of the plan. {9} To perform such other duties as required to administer the plan. {10) Arrange for and select physicians for medical exams and review and advise on medical disability eligibility issues. {11) Invest and reinvest the assets of the fund. {12) At least once every three years, the board shall retain a professionally qualified independent consultant who shall evaluate the performance of any exisiing professional money manager and shall make recommendations to the board regarding the selection of money managers for the next investment term. These recommendations shall be {;,onsiclered by the board at its next regularly scheduled meeting. Section 3. Severability. It is declared to be the intent of the City Council that, if any seerion, subsection, sentence, clause, phrase, or portion of this Ordinance is for any reason held invalid or unconstitutional by a court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision, and such holding shall not affect the validity of the remaining portions hereof. Section ~. Conflict. Any portion of the City of Clermont Code or any ordinance or part thereof in conflict with this ordinance is hereby repealed to the extent of such conflict. Secfit~n 5. Codification. The text of Sections 1 and 2 of this ordinance shall be codified as a part of the Clermont City Code The codifier is authorized to make editorial changes not effecting the substance of this ordinance by the substrtut~on of "article" for "ordinance", nseCtlon" fflr "paragraph", or otllerwlse t{} tape S~.ICh ed~tonal 1lcense. 5 CITY OF CLERMONT ORDINANCE NO.2010-42-C Section 6. Effective Date. This ordinance shall be published as provided by law and shall tape effect imrr~ediately upon its Second Reading and Final Passage. PASSED AND ORDAINED BY the City Council of the City of Clermont, Lake County, Florida on this 23~ day of February, 2010. CITY QF CLERMC}NT old . Tun~ille, Jr., ~ilayor Attest: Tracy Ackro~d, City Clerk ,`~i .`: r y, M ~ ~ • ;T ~ ~~. ~A V