HomeMy Public PortalAbout74-080 (08-22-74). ; . ~
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RESOLUTION N0. 74-80
A RESOLUTION OF INTENTION TO APPROVE AN
AMENDMENT TO CONTRACT BETWEEN THE BOARD OF
ADMINISTRATION OF THE PUBLIC EMPLOYEES'
RETIREMENT SYSTEM AND THE CITY OF LYNWOOD.
WHEREAS, the Public Employees' Retirement Law permits
the participation of public agencies and their employees in the
Public Employees` Retirement System by the execution of a contract,
and sets forth the procedure by which said public agencies may
elect to subject themselves and their employees to amendments
to said law; and
WHEREAS, one of the steps in the procedure to amend
this contract is the adoption by the legislative body of the
public agency of a resolution giving notice of its intention to
approve an amendment to said contract, which resolution shall
contain a summar,y of the changes proposed in said contract; and
WHEREAS, the following is a statement of the proposed
change:
Petirement allowances to which the annual cost-of-
living provisions apply, payable for time commencing on the first
day of the calendar month coinciding with or next following the
effective date of this amendment to or on account of persons
retired or members deceased on or prior to December 31, 1970,
are Yiereby increased by 5%.
WHEREAS, the estimate of the cost of such change for
the publ_ic agency is set forth in a copy of the valuation report
attached tlereto, marked "Exhibit A" and by this reference
incarporated into the amendment as though therein set out in full.
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NOW, THEREFORE, BE IT RESOLVED, that the City Council
of the City of Lynwood, gives, and it hereby gives notice of
intention to approve an amendment to the contract between the
City Council of the City of Lynwood and the Board of Administration
of the Public Employees' Retirement System to accomplish the
above change.
APPROVED and ADOPTED this 22nd day of August, 197~1.
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Mayor o h Ci y o Lynwood
ATTEST:
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~.t~ iC" "ty-of ~yI nwood~.
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STATE OF CALIFORNIA )
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COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of
Lynwood, do hereby certify that the above and foregoing
resolution was duly adopted by the City Council of s~id
city at an adjourned regular meetin~ thereof held
in the City Hall of said City on the 22nd day of
August , 19 74 , and passed by the following vote:
AYES: COUNCILMEN Byork, Green, Liewer, Morris, Rowe
NOES: COUNCILMEN None
ABSENT: COU~CILMEN None
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ITY E K, CITY 0 LY OOD T