HomeMy WebLinkAboutResolutions - No. 2289AUTHORIZING DISTRIBUTION CF ACCUMULATED
PENSION SEPARATION RESERVE FUNDS
WHEREA8, in compliance with Section 8.3 of Section 1
of Ordinance No. 579 the City of Lodi Pension Board has recom-
mended that the 1959 accumulated Separation Reserve in the
amount of $11,310.82 be evenly distributed to all members
of the local retirement system, and further recommends that
an additional accumulated Separation Reserve in the amount of
$366.70 be evenly distributed to Police and Fire personnel
covered by Section 9.2 of Section 2 of said Ordinance;
NOW, THEREFORF, BE IT RE9OLVfD, that the above recom-
mendation of the Pension Board be and the same is hereby
approved and the Finance Director is hereby directed to dis-
tribute the total accumulated Separation Reserve as recommended.
Dated: January 20, 1960.
Certified to be a full, true and correct copy
of Resolution Na 2289 passed and adopted by
the City Council of the City of Lodi in regular
meeting held January 20, 1960 by the following
vote:
ANIS : Councilmen - Culbertson, Mitchell and Brown.
NOES: Councilmen - None
ABSENT: Councilmen - Katzakian and Robinson
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City Clerk