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DRAFT <br />F:ALICE\ORDWORK\CURRENT\ TMRS Terminaring Updated Service Credits Ord <br />September 1, 2004 <br />ORDINANCE NO. <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS, <br />TEXAS, TERMINATING THE AUTOMATICALLY REPEATING <br />ALLOWANCE OF UPDATED SERVICE CREDITS AND INCREASED <br />PRIOR AND CLTRRENT SERVICE ANNLTITIES LTNDER THE TEXAS <br />MLTNICIPAL RETIREMENT SYSTEM (TMRS); MAKING OTHER <br />FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND <br />ESTABLISHING AN EFFECTIVE DATE. <br />WHEREAS, the City Council of the City of Paris, Texas, has heretofore adopted an <br />ordinance under Section 853.404 of Subtitle G of Title 8, Government Code, as amended <br />(hereinafter referred to as the "TMRS Act"), authorizing the crediting of updated service credits <br />on an annual basis and increases in prior and current service annuities under the Texas Municipal <br />Retirement System (TMRS) to retirees and beneficiaries of deceased members on an annual basis; <br />and, <br />WHEREAS, Subsection (e)(4) of Section 853.404 of the TMRS Act provides that such <br />an ordinance ceases to be in effect for future years if the City adopts an ordinance stating that the <br />previous order under Section 853.404 will cease to be in effect for future years; and, <br />WHEREAS, the City Council desires to adopt an ordinance under Subsection (e)(4) of <br />Section 853.404; NOW, THEREFORE, <br />BE IT ORDAINED BY THE CITY COLTNCIL OF THE CITY OF PARIS, PARIS, <br />TEXAS: <br />Section 1. That the findings set out in the preamble to this ordinance are hereby in all <br />things approved. <br />Section 2. That by the adoption of this ordinance the City Council terminates the <br />annually-repeating allowance of updated service credits and the annually-repeating allowance of <br />increases in prior and current service annuities under the Texas Municipal Retirement System <br />(TMRS) to retirees and beneficiaries of deceased members as to all calendar years beginning after <br />the effective date of this ordinance; provided, however, that nothing contained in this ordinance <br />shall be deemed to preclude the City Council from again adopting an ordinance under Section <br />853.404 in the future. <br />Section 3. That conditioned upon providing a signed copy of this ordinance to the Texas <br />Municipal Retirement System prior to the date, this ordinance sha11 become effective on January <br />1, 2005. <br />