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Home My WebLink About1975 Ordinance No. 059• •• •• INTRODUCE D AS A BILL BY COUNCILMAN MANN BY AUTHORITY ORDINANCE NO. 59 , SERIES OF 1975 AN ORDINANCE REPEALING AND RE-ENACTING SECTIONS 8 AND 9 OF CHAPTER 1, TITLE XI, OF THE 1969 E.M.C. BY ADDING NEW SEC- TIO S THERETO RELATING TO POLICE PENSIONS, SPECIAL FUNDS, RETIREMENT BENEFITS, DISABILITY, AND REFUNDING CONTRIBUTIONS TO THE POLICE PENSION FUND; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ENGLE- WOOD, COLORADO, AS FOLLOWS: Section 1 That Sections 8 and 9 of Chapter 1, Title XI of the 1969 E.M.C. hereby are repealed; and new sections to be numbered 8, 9, 10, 11 and 12 hereby are added thereto to read as follows: 11-1-8: POLICEMEN'S PENSION FUND; POLICE OFFICERS' BENEFIT FUND, SPECIAL FUND CREATED. (a) The City of Englewood does hereby elect to continue to participate in the Police Pension Fund, in accor- dance with the provisions of Title 31, Article 30, Part 3, Colorado Revised Statutes, 1973, as amended, save and except to the extent the provisions of this ordinance supersedes any provisions of said statutes. (b) There hereby is created a special fund to be known as "Police Officers' Benefit Fund" for the purpose of pay- ing those benefits accruing to police officers, pursuant to the provisions of this chapter, as well as Title V of the official City Code. (c) The City shall make contribution to said Police Officers' Benefit Fund at a rate to be determined annually in the following manner: At least every three (3) years, the City of Englewood shall have an actuarial study prepared relating to the Police Pension FUND AND POLICE OFFICERS' BENEFIT FUND. The normal cost of the benefits afforded under the STATUTORY POLICE PENSION FUND AND THE NORMAL COST, PLUS ANY UNFUNDED COST PRORATED ON A THIRTY (30) YEAR FUNDING BASIS OF THE BENEFITS AFFORDED UNDER THE POLICE OFFICERS' BENEFIT FUND WILL BE DISTRIBUTED AN- NUALLY INTO THE TWO PENSION FUNDS. The City's contribu- tion into the Police Officers' Benefit Fund will be a figure derived by taking the TOTAL DISTRIBUTION TO BE MADE EACH YEAR AS DESCRIBED ABOVE AND SUBTRACTING CON- TRIBUTIONS MADE BY THE EMPLOYEE, CITY AND STATE OF COLORADO, TO THE POLICE PENSION FUND. The resultant -1 - • • • (d) 11-1-9: percentage calculated annually will be paid from g eneral revenues of the City into the Police Officers' Be n efi t Fund. I n addition to the powers imposed upon the Board of Trustees of the Englewood Policemen's Pension Fund by Ti tle 31, Article 30, Part 3, Colorado Revised Statutes, 1973 , as amended, said board shall have all of the powers necessary to supervise and administer the provisions of th i s section. In addition thereto, said board shall have the power from time to time, as the need may arise, to transfer any surplus monies resulting in said Police Off icers' Benefit Fund to Policemen's Pension Fund o f the City. POLICE OFFICERS; PERMANENT DISABILITY Shoul d any police o f ficer become permanently disabled, whether as a resul t o f an on -the -job or an off-the-job injury, so that said officer bec omes eligible for the total disability benefits provided under the Police Pension Fund, the City shall pay, out of the Police Officers' Benefit Fund, in addition to any benefits to be received by the police officer from the Police Pension Fund, an amount equal to twenty pe rcent (20 %) o f said officer's salary, so that said officer shall receiv e a total of seventy percent (70\) of salary, fifty per- cent (50%) f rom the Police Pension Fund, and twenty percent (20%) from the Po lice Officers' Benefit Fund. In the event that the Engle- wood Police Pens i on Fund does not provide for the disability benefit for any re ason, the Police Officers' Benefit Fund shall provide seventy pe rcent (70 %) coverage. The City shall continue such payments until such t i me as the police officer would have been eligible to re- ceive norm al non-disability retirement benefits payable from the Po- lice Pensi on Fund. 11-1-10: RETIREMENT BENEFITS Any police officer who has attained the age of fifty-five (55) years and has twenty (20) or more years of credited service with the Eng l ewood Police Department, or a member who has twenty- five (25) years or more of credit with said Englewood Police De- partment, regardless of age, shall be eligible to receive a service retirement pension based on the police officer's final base pay, allowing two -and-one-half percent (2~\) for each of the first twenty (20) year s of accredited service, plus one percent (1%) for each ad- ditional y ear of accredited service, to a maximum of sixty-five per- cent (65\). Calculating the base pay means the average salary re- ceived as a member of said department for one year before granting said pensi on. Pension payments shall be made in equal monthly in- stallments to the member . -2 - '· • • • 11-1-11: LEAVING PRIOR TO ELIGIBILITY Should any police officer leave the service of the City prior to becoming eligible to receive a pension, for any reason other than death, and said member has less than five years of credited service at termination, he shall be entitled to a refund of his total contribution without interest; or if said member has five (5) or more years of credited service at termination, said officer may elect either 1) to receive deferred monthly benefits payable beginning at age fifty-five (SS) based upon the member's final base pay, allowing two-and-one-half per- cent (2~\) for each of the first twenty (20) years of accredited service plus one percent (1\) for each additional year of accred- ited service to a maximum of sixty five percent (65%) of base pay or, 2) receive a refund of his total contributions without in- ~PrP~~ 11-1-12: POLICE PENSION FUND INVESTMENTS In lieu of the provisions of Title 31, Article 30, Section 312, C.R.S. 1973, the Board of Trustees of the Policemen's Pen- sion Fund of this municipality shall be governed by the follow- ing provisions, to wit: The Board of Trustees of the Policemen's Pension Fund in this municipality shall have power to draw on such Pen- sion Fund, from the Treasurer of the Policemen's Pension Fund, and may invest the same, or any part thereof, in the name of the Board of Trustees of the Policemen's Pen- sion Fund, in any security, bond, debenture, corporate obligation, stock, preferred or common, securities of any open-end or closed-end management-type investment company or investment trust and participations in com- mon trust funds, to the extent that such investments would be authorized investments by fiduciaries within this state, as set forth in Title 15, Article 1, Part 3, C.R.S. 1973, or any subsequent amendment thereto, provid- ing that said board shall at all times hold fixed income obligations having a book value or cost of not less than sixty percent (60\) of the total contributions made to said Policemen's Pension Fund, less the amounts paid out. All securities invested shall be deposited with the Trea- surer of the City of Englewood, as ex officio Treasurer of the Board of Trustees of the Policemen's Pension Fund, and subject to the order of said board. (Ord. No. 40, Series of 1969) -3 - ~·· ~=-· • . • • •· Section 2. I nasmuch as the memorandum of understanding with the Police Benefit Association is scheduled to begin January 1, 1976, a nd it i s imperative that this ordinance be in effect at that time, the Council, therefore, finds and determines that an em ergency exists and that the passage of the within ordinance i s necessary for the immediate preservation of property , health, peace and safety. Int rod u c ed, read in full and passed on First Reading on the 1st day o f December, 1975. Published a s a Bil l f or an Ordinance on the 3rd day of December, 1975. Read by t i tle and p ass ed on Fi nal Reading on the 16th day of De cember, 1975. Pub l i shed by title as Ordinance No. 59 , Series of 1975, on the 1.£._day of December, 1975 . ATTEST: ~~fk---- Ex Offici o C ~lerk-Treasurer I, Will iam D. James, do hereby certify that the above and foregoin g i s a true, accurate and complete copy of the Ordinance passed o n Final Reading and published by title as Ordinance No.~, Series of 1975. -4 - • • INTROD UC ED AS A BI LL BY COUNCILMAN MANN BY AUTHORITY ORDINANCE NO. , SERIES OF 1975 -- AN ORDIN ANCE VACATING A CERTAIN PORTION OF THE ALLEY IN BLOCK 4, HIGGINS SOUTH BROADWAY HEIGHTS, ENGLEWOOD, ARAPAHOE COUNTY, COLO- RADO. WHE REAS, there presently exists an alley in Block 4, Higgins South Br oadway Heights, Englewood, Colorado; and WHE REAS, that portion of the alley requested to be vacated lies entirely within the City of Englewood and has no common boundary with any other political subdivision; and WHERE AS, there is no public reason for retaining the alley; NOW , THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO, AS FOLLOWS: Section 1 That the following described portion of an alley located within the City of Englewood, Arapahoe County, Colorado, be and the same is hereby vacated: That portion of the alley adjacent to Lots 20, 21, 22, 23, 24 and the West 17' of Lot 25, Block 4, Higgins South Broadway Heights, City of Englewood, County of Arapahoe: Colo- rado. Introduced, read in full and passed on first reading on the 16th day of June, 1975. Publis hed as a Bill for an Ordinance on the 19th day of June, 1975. Rea d by title and passed on final reading on the 16th day of December , 1975. Publis hed by title as Ordinance No. , Series of 1975, on the day o f December, 1975. -- Mayor ATTEST: Ex Officio City Clerk-Treasurer I, William D. James, do hereby certify that the above and foregoing is a true, accurate and complete copy of the Ordinance passed at final reading and published by title as Ordinance No. , Series of 1975. Ex Officio City Clerk-Treasurer -2 -