CC Minutes 06/26/2006 - Laserfiche WebLink

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City Commission Meeting June 26, 2006 Page 9 D. First Reading of Ordinance 06-1203 - Police Officers' and Firefighters' Pension Plan Amendments- IRS Changes The City Clerk read Ordinance 06- I 203 by title as follows: "AN ORDINANCE OF THE CITY OF CASSELBERRY, FLORIDA, AMENDING CHAPTER 62, PERSONNEL, ARTICLE XVIII, POLICE OFFICERS' AND FIREFIGHTERS' PENSION PLAN, OF THE CODE OF ORDINANCES OF THE CITY OF CASSELBERRY; AMENDING SECTION 62-481, DEFINITIONS, TO AMEND THE DEFINITION OF "CREDITED SERVICE"; AMENDING SECTION 62-490, OPTIONAL FORMS OF BENEFITS; AMENDING SECTION 62-496, DISTRIBUTION OF BENEFITS; AMENDING 62-504, DIRECT TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND PROVIDING CODIFICATION AND AN EFFECTIVE DATE." Staff Presentation: Ordinance 06-1203 includes changes resulting from recent amendments to the Internal Revenue Code which apply to tax qualified pension plans such as the City's Police/Fire Pension Plan. The Police Officer' and Firefighters' Pension Board of Trustees authorized the Board Attorney to prepare this ordinance at their meeting of December 16,2006. The changes will have no actuarial impact on the Pension Plan as determined by Foster & Foster, Inc., the Actuarial Consultant. Staff Recommendation: Approval of Ordinance 06- I 203 on first reading and schedule the public hearing for July 24, 2006. MOTION: Moved by Commissioner Susan Doerner to approve Ordinance 06-1203, IRS Amendments to the Police/Fire Pension Plan, on first reading as presented. Motion was seconded by Commissioner Colleen S. Hufford and carried on a 4 - 0 vote. E. Resolution 06- I 682 - Seminola Boulevard East Small Area Study (LP A 05-17) The City Clerk read Resolution 06- I 682 by title as follows: "A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, APPROVING AND ACCEPTING THE CONTENTS OF THE DOCUMENT ENTITLED, "SEMINOLA BOULEVARD EAST SMALL AREA STUDY" AND AUTHORIZING THE AFFECTED CITYDEP ARTMENTS TO TAKE APPROPRIATE ACTIONS TO IMPLEMENT THE RECOMMENDATIONS OF THE STUDY; PROVIDING FOR CONFLICTS, SEVERABILITY, AND EFFECTIVE DATE." Advertisement: Resolution 06- I 682 was advertised in the Orlando Sentinel on June 20, 2006. All property owners within 500 feet affected by the Study were notified by mail of the anticipated adoption of Resolution 06-1682.