HomeMy WebLinkAboutRES 82-038 RSOLUTION AUTHORIZING THE MAYOR AND CITY MANAGER TO EXECUTE THE AGREEMENT BETWEEN THE CITY OF ST. ANTHONY AND THE ST. ANTHONY FIREFIGHTERS RELIEF ASSOCIATION REGARDING ESTABLISHING OF A PENSION FUND Meeting Sheet
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102582
Box: 23
Folder: RES 1982
Document: RES 82-038 RSOWTION AUTHORIZING THE MAYOR AND
CIN MANAGER TO EXECUTE THE AGREEMENT BETWEEN THE CITY OF
ST. ANTHONY AND THE ST. ANTHONY FIREFIGHTERS RELIEF
ASSOCIATION REGARDING ESTABLISHING OF A PENSION FUND
•
RESOLUTION 82-038
A RESOLUTION AUTHORIZING THE MAYOR AND
CITY MANAGER TO EXECUTE THE AGREEMENT BETWEEN
THE CITY OF ST. ANTHONY AND THE ST. ANTHONY
FIREFIGHTERS -RELIEF ASSOCIATION
REGARDING 'ESTABLISHMENT OF A PENSION FUND
WHEREAS , the. City Council of the City of St. Anthony and the
St. Anthony Firefighters' Relief Association- desire to enter
into an agreement regarding the establishment of a pension
fund; and
WHEREAS , the City Council has prepared and .received said
agreement and has approved its adoption.
NOW, THEREFORE, BE IT RESOLVED, that the Mayor and City
Manager are hereby authorized :to execute the Agreement
regarding a pension fund for the St. Anthony Firefighters
Relief Association on behalf of the City.. of St. Anthony .
Adopted this a"� ' day of Suj �j 1982 .
P'Iayor
ATTEST: � •
City Clerk
' 6Reviewed for administration: �l�llltdS
City Manager
2. �,
AGREEMENT
THIS AGREEMENT is made this 21 day.. of ,
1982 , between the CITY OF ST. ANTHONY, a Minnesota mun` ipal corpora-
tion, (-the "City") and the ST. ANTHONY FIREFIGHTERS RELIEF ASSOC . ,
a corporation formed under the Minnesota Nonprofit Corporation Act,
(the "Association") .
WHEREAS , the Association is composed partially of volunteer
firefighters and partially of salaried firefighters .and is governed by. ',
I2innesota Statutes sections 69 .771 to 69 . 776 , as amended, (known as
"The Volunteer Firefighter's Relief Association Guidelines Act of
1971"1and sections 424A.01 and 424 .09; and
WHEREAS ,-, the Bylaws .of the Association provide for ,payment
of lump sum service pensions ,, but not monthly service pensions , so
that- Minnesota Statutes section 69. 77.2 applies to the Association; and ,
WHEREAS , the Association -desires to have its Bylaws approved
and ratified by the .City Council of the- City., so that the Association
may receive public funds ; and
WHEREAS, the City desires to assist its firefighters and
prudently to expend public funds- for the support of the Association;
NOW', ,THEREFORE,. the City and the Association agree as follows :
1. Each calendar..year, starting with 1982 , the City will
contribute to the special fund of the Association any
applicable fire state .aid, as required .by Minnesota
Statutes..
2 . During ,calendar years 1983 through 1986 (inclusive) the
City will make additional contributions to the special
fund of the Association; but, the aggregate amount of
such additional .contributions .will not exceed twenty-two
thousand dollars ($22 ,000) . Based on- financial projec-
tions , it is anticipated that the annual additional
contributions will be as follows :
Year Amount
1983 $9 ,050
1984 $6 ,725
1985 $4 , 375
1986 $1 ,850
The actual annual additional contributions will be based
on the financial -.requirements of the special fund of the
Association and the minimum obligations of the City with
respect to thespecial fund, as certified .by the officers
• of the Association - in accordance with Minnesota Statutes
section 69.. 772 , subdivisions 3 and 4. In no event,
however, will the aggregate additional contributions of
the City exceed twenty-two thousand dollars ($22 ,000) .
3 . After calendar year 1986 , the City will not make any
• contributions to the special fund of the Association ,
except for the required fire state aid.
4 . Based on financial projections , it is anticipated that
the contributions described above will be sufficient to
fully fund lump sum service pensions of six hundred
dollars (_$6.00)_ per year of service for eligible members
of the Association. However, if at any time the funding
status of the Association is such that additional contri-
butions would be required to provide benefits , then the
Association will either --
(a) reduce the level of benefits , so that no additional
City_ assistance is required, or
(:)D). require contributions from the members of the Associa-
tion, so that no additional City assistance is
required.
5 . The only contributions that will be made by the City to
the Association are those specifically set forth in this
Agreement , and no other contributions will be made.
6. The Association agrees that any future increases in its
benefits to members will remain within the funding
ability of the special fund of the Association, as con-
stituted from time to time, and that the Association
will not make any requests in the future for additional
funding from the City.
7 . This agreement may be amended only by written agreement
between the City ' and Association.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement on the date set forth in the initial paragraph hereof .
CITY OF ST. ANTHONY ST. ANTHONY FIREFIGHTERS RELIEF
ASSOC.
By : Its Mayor By : Its President
By : Its City Manager