2261 ORD PROVIDING CODE OF ORDINANCES BE AMENDED BY ADDING SECTIONS 2-22 AND 2-23

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ORDINANCE NO. 2261 AN ORDINANCE OF THE CITY OF PARIS, PARIS, TEXAS, PROVIDING THAT THE CODE OF ORDINANCES, CITY OF PARIS, PARIS, TEXAS, BE AMENDED BY ADDING SECTIONS 2-22 AND 2-23, DETERMINING TO GRANT, PROVIDING FOR AND ALLOW - ING, UNDER THE ACT GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM, "UPDATED SERVICE CREDIT" IN SAID SYSTEM FOR SERVICE PERFORMED BY QUALIFYING MEMBERS OF SUCH SYSTEM IN THE EMPLOYMENT OF THE CITY OF PARIS; AUTHORIZING AND PROVIDING FOR ALLOWANCE OF INCREASES, AS HEREIN PROVIDED, IN MONTHLY BENEFITS PAYABLE BY TEXAS MUNICIPAL RETIREMENT SYSTEM, AFTER THE EFFECTIVE DATE HEREIN SPECIFIED, TO RETIRED EM- PLOYEES AND TO BENEFICIARIES OF DECEASED EMPLOYEES, UNDER CURRENT SERVICE ANNUITIES ARISING FROM SERVICE OF SUCH EMPLOYEES TO THIS CITY; REPEALING A LL ORDI- NANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING FOR AN EFFECTIVE DATE OF JANUARY l, 1976. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS: Section 1. That the Code of Ordinances of the City of Paris, Paris, Texas, be amended by adding a section to be numbered 2-22, to read as follows: "Sec. 2-22. Initial Allowance of Updated Service Credits. (a) On the terms and conditions set out in Section XVII of Article 6243h, Vernon's Texas Civil Statutes, as amended 1975, each member of Texas Municipal Retirement System who has current service credit or prior service credit in said System in force and effect on the lst day of January, 1976 by reason of service in the employment of the City of Paris, shall be and is hereby allowed "updated service credit" (as that term is defined in said act) in an amount that is 10070 of the "Base Updated Service Credit"of the member, calculated as provided in said act. 'Ihe updated service credit hereby allowed shall be in lieu of and in substitution for all Prior Service Credits, Special Prior Service Credits, and Antecedent Service Credits, if any, heretofore allowed such member by reason of service with the City of Paris. (b) In accordance with the provisions of said act, the deposits required to be made to the Texas Municipal Retirement System by employees of the several participat- ing departments on account of current service shall be calculated from and after the date aforesaid on the full amount of such person's earnings as an employee of the city. "