HomeMy WebLinkAboutOrdinance_18-17_10/12/2017 (2) ORDINANCE NO. 18-17
AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA, AMENDING THE VILLAGE CODE OF
ORDINANCES AT CHAPTER 2. ADMINISTRATION. BY AMENDING
SECTION 2-61. PENSION TRUST FUNDS, EXHIBIT A, THE GENERAL
EMPLOYEES' PENSION TRUST FUND, TO ADOPT REVISIONS
REQUIRED BY THE TERMS OF THE IRS FAVORABLE
DETERMINATION LETTER DATED MARCH 30, 2017; PROVIDING
THAT EACH AND EVERY OTHER SECTION AND SUBSECTION OF
CHAPTER 2. SHALL REMAIN IN FULL FORCE AND EFFECT AS
PREVIOUSLY ENACTED; PROVIDING A CONFLICTS CLAUSE, A
SEVERABILITY CLAUSE AND AUTHORITY TO CODIFY;
PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
WHEREAS,the Village Council of the Village of Tequesta desires to amend the general
employees' pension trust fund pursuant to the IRS Favorable Determination Letter dated March
30, 2017 to adopt a series of amendments required thereby; and
WHEREAS, said amendments have been approved by the Board of Trustees; and
WHEREAS, the pension trust fund actuary has reviewed the proposed amendments and
has made a determination that said amendments have no actuarial impact on the cost of the
pension fund; and
WHEREAS, the Village Council believes that these revisions to the general employees'
pension trust fund are in the best interests of the Village of Tequesta and the general employees'
pension trust fund beneficiaries; and will promote the public health, safety and welfare.
NOW,THEREFORE,BE IT ORDAINED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY,FLORIDA,AS FOLLOWS:
Section l: Chapter 2 of the Code of Ordinances of the Village of Tequesta is hereby
amended at Sec. 2-61 Pension Trust Funds, Exhibit A, the General Employees' Pension Trust
Fund, to adopt revisions required by the terms of the IRS favorable determination letter dated
March 30, 2017;providing that Exhibit A, attached hereto shall read as attached:
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Section 2: Each and every other section and subsection of Chapter 2. Administration.
of the code of ordinances of the Village of Tequesta shall remain in full force and effect as
previously enacted.
Section 3: All ordinances or parts of ordinances in conflict herewith be and the same
are hereby repealed.
Section 4: Should any Section or provision of this Ordinance or any portion thereof,
any paragraph, sentence or word be declared by a Court of competent jurisdiction to be invalid,
such decision shall not affect the validity of the remainder of this Ordinance.
Section 5: Specific authority is hereby granted to codify this Ordinance.
Section 6: This Ordinance shall become effective immediately upon adoption.
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