Ord 1984-111 - Laserfiche WebLink

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-2- (b) On the terms and conditions set out In Section 63.601 of said Title, any member of the Texas Municipal Retirement System who is eligible for Updated Service Credit on the basis of service with this City, and who has unforfeited credit for prior service and/or current service with another participating municipality by reason of previous service, and was a contributing member on January 1, 1984, shall be credited with Updated Service Credit pursuant to, calculated in accordance with, and subject to adjustment as set forth in said 63.601 of said Title. SECTION 2. That Section 2-44(b) of Division 2 of Article III of Chapter 2 of the Code of Ordinances of the City of San Marcos, Texas, is hereby amended to read as follows: Sec. 2-44. Increase in Retirement Annuities. . . . (b) The amount of annuity increase under this Section is computed as the sum of the prior and current service annuities on the effective date of retirement of the person on whose service the annuities are based, multiplied by 70% of the percentage change in Consumer Price Index For All Urban Consumers, from December of the year immediately preceding the effective date of the person's retirement to the December that is 13 months prior to January 1, 1985. . .. SECTION 3. That Division 2 of Article III of Chapter 2 of the Code of Ordinances of the City of San Marcos, Texas, is hereby amended to add a section to be numbered 2-49 which shall read as follows: Sec. 2-49. Separability. That if any section, subsection, sentence, clause, phrase or portion of this Ordinance is for any reason held invalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and such holding shall not affect the validity of the remaining portions thereof. SECTION 4. That the importance of this Ordinance creates an emergency and an imperative public necessity so that the provisions of the charter requiring that ordinances shall be presented at three separate meetings and that no ordinance shall become effective until the expiration of ten (10) days following -the date of its final passage be suspended, and these provisions are hereby suspended, and this Ordinance shall take effect and be in full force and effect on the 1st day of January, 1985 and from and after its adoption and after its publication ln a newspaper of general circulation in the area.