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<br />. <br /> <br />. <br /> <br />. <br /> <br />Resolution 5594 <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION AUTHORIZING SEVERANCE <br />PAYMENT FOR MICHAEL ULRICH <br /> <br />WHEREAS, Mike Ulrich has served the City of Mounds View for 14 years; and <br /> <br />WHEREAS, Mike Ulrich's last day of employment with the City will be August 3, <br />2001; and <br /> <br />WHEREAS, Mike Ulrich is entitled to the following benefits per the City of <br />Mounds View Personnel Manual, Section 4.350 Separation Compensation: <br /> <br />. 100% of accrued vacation time-estimated at 398.49 hours <br /> <br />o 398.49 hours of vacation x $36.03 per hour=$14,357.59 <br /> <br />. Option 1: a lump sum payment of fifty percent of accrued sick leave, or <br />Option 2: sixty-five percent of sick leave accrued for use toward the retiree's <br />group health, dental and/or life insurance premiums for as long as the funds <br />are available up to the retiree's 65th birthday. If Option 2 is elected, these <br />funds may be used only for the retiree's health, dental and/or life insurance <br />premiums and at no time may they be taken for cash or for any other purpose. <br /> <br />Mike Ulrich has elected Option 1 which is estimated as follows: <br /> <br />o 960 hours of accrued sick leave x 50% = 480 x $36.03 per hour= <br />$17,294.40 <br /> <br />· Total: $31,651.99; and <br /> <br />WHEREAS, Mike Ulrich is paid from the Pavement Management fund at 34%, <br />Water Management fund at 33% and Wastewater fund at 33%. <br /> <br />NOW, THEREFORE, BE IT RESOLVED that the Mounds View City Council does <br />hereby approve the aforementioned provisions for Michael Ulrich and directs staff <br />to move these funds from their respective reserve accounts to the General Fund <br />for payout. <br />