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This new payment along with the outstanding obligations and M & O will be supported by the <br />City's proposed new tax rate of $0.44278 which is slightly less than the current tax rate of <br />$0.45373. <br />OPTIONS: <br />1. Approve the Resolutions, Agreements and Ordinances to authorize the freezing of the Paris <br />Firefighter Relief and Retirement Fund while simultaneously issuing a pension bond to <br />fund the program and transfer employees to the TMRS. <br />a. Note: An ordinance at the August 22, 2022 City Council Meeting will need to be <br />approved in order to authorize Fire Department participation in TMRS. <br />2. Request additional information regarding this project, specific terms, timelines, etc. This <br />information can be brought back at the next meeting, however it may impact the TMRS <br />timeline for receiving employees by October 1, 2022. <br />3. Reject this project and advise City Staff as to next steps for addressing the state of the Paris <br />Firefighter Relief and Retirement Fund. <br />RECOMMENDATION: <br />1. Approve the Resolutions, Agreements and Ordinances to authorize the freezing of the Paris <br />Firefighter Relief and Retirement Fund while simultaneously issuing a pension bond to <br />fund the program and transfer employees to the TMRS. <br />