HomeMy WebLinkAbout18398 ORD - 08/07/1984AN ORDINANCE
PERMITTING CORPUS CHRISTI FIREFIGHTERS WHO ARE MEMBERS OF
THE CORPUS CHRISTI FIREMEN'S RELIEF AND RETIREMENT FUND TO
DEFER FEDERAL INCOME TAXES ON THEIR MONTHLY CONTRIBUTIONS TO
THE PENSION FUND FROM THE TIME CONTRIBUTIONS ARE MADE TO THE
LATER TIME BENEFITS ARE RECEIVED FROM THE FUND; AND
DECLARING AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
WHEREAS, the City Council of the City of Corpus Christi recognizes the
desirability of enabling its firefighters to defer payment of a part of their
federal income taxes; and
WHEREAS, the State Firemen's Relief and Retirement Law in H.B. 1679 by
Salinas was amended by the 1983 Session of the Texas Legislature to permit
firefighters to defer payment of federal income taxes on their monthly
contributions to the Pension Fund; and
WHEREAS, the firefighters elected this income tax deferral option by a
majority of the 323 participating members of the Fund, voting by secret ballot,
on July 31, August 1 and 2, 1984, with 199 voting in favor of income tax and 72
voting against this change. The 199 voting in favor constitute a majority of
the 323 participating members of the Fund; and
WHEREAS, the Board of Trustees of the Pension Fund is seeking an
Internal Revenue Service determination that the firefighter's pension plan is a
qualified retirement plan under Section 401(a), Federal Internal Revenue Code,
and its related trust in tax exempt under Section 501(a), Federal Internal
Revenue Code;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. That the firefighters are hereby permitted to defer
federal income taxes under the terms of Section 10F(a) and Section 10F(b) of the
State Firemen's' Relief and Retirement Law subject to a favorable determination
by the Internal Revenue Service that the firefighter's pension plan is a
qualified retirement plan.
SECTION 2. That upon written request of the Mayor or five Council
members, copy attached, to find and declare an emergency due to the need for the
efficient and effective administration of City affairs by permitting the
abovementioned deferment of federal income taxes at the earliest practicable
date, such finding of an emergency is made and declared requiring suspension of
the Charter rule as to consideration and voting upon ordinances or resolutions
18398
MICROFILMED
SEP 2 81984
at three regular meetings so that this ordinance is passed and shall take effect
upon first reading as an emergency measure this the 7th day of August, 1984.
ATTEST:
i ty ec a ry
APPROVED:
DAY OF AUGUST, 1984:
J. BRUCE AYCOCK, CITY ATTORNEY
By
Assistt [ity Attorney
MAYOR
THE CITY
F CORPUS CHRISTI, TEXAS
Corpus Christi, Texas
day of ,4( J 5Y'
, 1984
TO THE MEMBERS OF THE CITY COUNCIL
Corpus Christi, Texas
For the reasons set forth in the emergency clause of the foregoing ordinance
or resolution, an emergency exists requiring suspension of the Charter rule
as to consideration and voting upon ordinances or resolutions at three
regular meetings; I/we, therefore, request that you suspend said Charter rule
and pass this ordinance or resolution finally on the date it is introduced,
or at the present meeting of the City Council.
Respectfully, Respectfully,
Council Members
The above ordinance was
Luther Jones
Betty N. Turner
David Berlanga, Sr.
Welder Brown
Leo Guerrero
Dr. Charles W. Kennedy
Joe McComb
Frank Mendez
Mary Pat Slavik
MAYOR
THE TY OF CORPUS CHRISTI, TEXAS
passed by the following vote:
at*
18398