HomeMy WebLinkAbout90-83 - ADMIN Resolution - City Council - 1990/07/02r
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RESOLUTION NO.
90-83
RESOLUTION APPROVING CONTINUATION OF THE PROCESS OF
CONSOLIDATION OF THE ST. LOUIS PARR POLICE RELIEF ASSOCIATION
WITH PUBLIC EMPLOYEES RETIREMENT ASSOCIATION POLICE AND FIRE FUND
WHEREAS, Minnesota Statute 353(A) authorizes any local salaried police
relief association and 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 Statute 353; and
WHEREAS, pursuant to such legislation, a sufficient petition initiating
the consolidation process was submitted by members of the St. Louis Park Police
Relief Association to the board of directors of such association, 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 Police 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:
Reviewed for Administration:
1- O/J�!D A
City Manager
Adopted by the City Council July 2, 1990
Mayo
Approved as to form and execution: