HomeMy WebLinkAbout89-123 - ADMIN Resolution - City Council - 1989/08/211
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RESOLUTION NO.
89-123
RESOLUTION APPROVING CONTINUATION OF THE PROCESS
OF CONSOLIDATION OF THE ST. LOUIS PARK FIRE RELIEF ASSOCIATION
WITH PUBLIC EMPLOYEES RETIREMENT ASSOCIATION POLICE AND FIRE FUND
WHEREAS, Minnesota Statutes 353(A) authorizes any local salaried firefighters
relief association ano the respective municipality on a voluntary
basis to effect the consolidation of a local relief association
into the Public Employees Retirement Association Police and Fire
Fund (the "Fund") established by Minnesota Statutes 353; and
WHEREAS, pursuant to such legislation a sufficient petition initiating the
consolidation process was submitted by members of the St. Louis
Park Fire Relief Association to the board of directors of such associa-
tion and the board has held the required public hearing and conducted
the required membership referendum on the issue; and
WHEREAS, the next step required in the consolidation process is the adoption
by the City Council of a preliminary resolution granting approval
of consolidation for the purpose of continuing the process via
the preparation of actuarial, investment and membership data studies,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of St. Louis
Park as follows:
1. The City Council hereby gives its preliminary approval for the purpose
of continuation of the process of considering the proposed consolidation
of the St. Louis Park Fire Relief Association with the Public Employees
Retirement Association Police and Fire Fund;
2. The City Manager is directed to notify the Executive Director of the Public
Employees Retirement Association, the Executive Director of the State
Board of Investment, the Executive Director of the Legislative Commission
on Pensions and Retirement, the Commissioner of Finance, the Secretary
of State and the State Auditor of this approval action.
Attest:
Lc, y er 4 1 -
Adopted by the City Council August 21, 1989
Reviewed for Administration:
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City Manager
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Approved as to form and execution:
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