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MINUTES <br />CITY COUNCIL <br />MAY 26, 1993 <br />anticipated between 6% and 7% earnings. At a$2,050 <br />benefit level, the City's required contribution would <br />be approximately $11,000 at 6% earnings and $2,800 at <br />7~. The Administrator indicated that he was <br />comfortable with a$2,050 pension benefit if the City <br />Council was comfortable with the potential for a <br />$12,000 to $13,000 contribution. The Administrator <br />reported that the key is to set a City contribution <br />level that the Council is comfortable with and lock <br />that amount in. As long as the parameters are met <br />without exceeding the City maximum, increases can be <br />approved. <br />The City Administrator also pointed out that the <br />pension fund has a limited income stream and is getting <br />to the maximum on benefit level based on income stream. <br />Morelan indicated that even though there is no legal <br />requirement for him to do so, he will abstain from <br />voting on this issue given that he is a member of the <br />Fire Department. <br />Mr. LaValle introduced the following resolution and <br />moved its adoption: <br />RESOLUTION NO. 93-5-151 - APPROVING AN INCREASE IN FIRE <br />RELIEF ASSOCIATION PENSION BENEFIT TO $2,050 PER YEAR <br />OF SERVICE BASED ON THE INFORMATION PROVIDED BY THE <br />CITY ADMINISTRATOR SHOWING THAT THE CITY'S MAXIMUM <br />CONTRIBUTION FOR THIS BENEFIT LEVEL WOULD BE $12,610 <br />FOR THE YEAR 1994, AND INSTRUCTING THE CITY <br />ADMINISTRATOR TO WORK WITH THE RELIEF ASSOCIATION TO <br />SET UP A SCHEDULE OF POTENTIAL INCREASES FOR THE NEXT <br />FIVE YEARS BASED ON MUTUAL AGREEMENT AND A SET OF <br />PARAMETERS THAT MUST BE MET TO JUSTIFY FUTURE INCREASES <br />The foregoing resolution was duly seconded by Pedersen. <br />Ayes (4) LaValle, Pedersen, Hanson, Scalze. <br />Nays (0). <br />Abstains (1) Morelan. Resolution declared adopted. <br />FIRE DEPT. The City Administrator reported that the proposed <br />VEHICULAR Fire Department Vehicular Purchasing Policy is a <br />PURCHASING means of setting up an arrangement for funding future <br />POLICY fire truck purchases. The Administrator reported that <br />the proposed policy before the Council is a result of <br />discussions between the Fire Department and himself. <br />Pedersen expressed concern that the policy did not <br />allow for adjustments in a purchasing schedule, and <br />that once approved the City would be locked in to a <br />rigid schedule that left no room for adjustment if <br />deemed necessary. <br />Page 21 <br />