Fort Walton Beach Resolution — 89-04-CDBG Director-Discontinue Retirement — reading text

City of Fort Walton Beach HOME OF THE c7~ g~ 89- 4 A RESOLUTION BY THE CITY OF FORT WALTON BEACH, FLORIDA, ALLOWING THE COMMUNITY DEVELOPMENT BLOCK GRANT DIRECTOR TO DISCONTINUE PARTICIPATION IN THE GENERAL EMPLOYEES' RETIREMENT PLAN, AND ALL MONIES CONTRIBUTED THUS FAR BE RETURNED TO THE DIRECTOR PER SECTION 17- 17 OF THE GENERAL EMPLOYEES' RETIREMENT PLAN, AND PROVIDING FOR THE EFFECTIVE DATE HEREOF. WHEREAS, the City of Fort ~oJa1ton Beach Community Block Grant Director, Virginia Broadnax, has requested she not be required to continue participation in the General Employees' Retirement Plan, and WHEREAS, the position of Community Block Grant Director is funded by federal grant monies, including the employer' s contribution to the retirement fund, and WHEREAS, Virginia Broadnax' s future plans involve professional employment elsewhere, and WHEREAS, Virginia Broadnax has personally requested all sums deposited by her into the General Employees' Retirement Fund be returned to her in a one sum payment. including interest, as calculated by Section 17- 17 of the General Employees' Retirement Plan. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA: SECTION I. That Virginia Broadnax, Community Development Block Grant Director, shall hereby voluntarily terminate as a participant in the City of Fort Walton Beach General Employees' Retirement Plan as personally requested by her. SECTION II. ThatVirginia Broadnax shall receive a one sum payment of all her contributions deposited in the General Employees' Retirement Fund. plus interest, in accordance with Section 17- 17 of the General Employees' Retirement Plan. SECTION III. That this resolution shall take effect immediately upon approval by the Council and signature by the Mayor. ADOPTED: ~ /cfJ 7; l' if / MAYOR: r J- ~ The and legal sufficiency of the form foregoing has been reviewed and approved the City Attorney. \