Ord 11-13ORDINANCE NO. 11 -13
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA,.AIVMNDING CHAPTER 35, "EMPLOYEE
POLICIES AND BENEFITS ", SECTION, "35.105, "ADMINISTRATION
BY RETIREMENT CO1vM[TTEE ", SUBSECTION (C) "ACTION BY
COMMITTEE", TO REMOVE THE REQUIREMENT THAT THE CITY
COMMISSION MUST APPROVE CHANGES TO THE INVESTMENT
POLICY AS ADOPTED BY THE COMMITTEE; PROVIDING A
SAVING CLAUSE, A GENERAL REPEALER CLAUSE, AND AN
EFFECTIVE DATE.
WHEREAS, the Retirement Committee periodically wishes to make changes to its written investment
policy in order to address market conditions; and
WHEREAS, pursuant to the City's otdtnataces the City Commission must approve any changes to the
investment policy; and
WHEREAS, in order to make this a more efficient process, the Committee has requested that the
requirement for City Commission approval be removed ftom the Ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That Chapter 35, "Employee Policies and Benefits ", Section 35.105, "Administration by
Retirement Committee % Subsection (C) "Action by Committee", of the Code of Ordinances of the City of Delray
Beach is hereby amended to read as follows:
(C) Action by Committee.
(1) A majority of the members of the Committee shall constitute a quorum for the
transaction of business and shall have full power to act hereunder.
(2) Committee meetings shall be noticed and open to the public. Meetings shall be
conducted in accordance with rules adopted by the Committee, or by Robetes Rules of
Order if the Committee has not adopted rules. Minutes of all meetings of the
Committee and a record of any action taken by the Committee shall be kept in written
form and such record shall be kept by the secretary appointed by the Committee.
Official Committee action shall be by majority vote of a quorum of the Committee.
(3) The Committee may invest and reinvest the assets of the Retirement Trust Fund in any
investment in which assets of the Florida Retirement System may be invested pursuant
to F.S. Section 215.47, as that statute may be amended from time to time, or in
accordance with written investment policies adopted by the Committee ftfid ffprizaved
by the Gity Ga��ssioti, The Committee may retain such professional consultants,
advisors and investment managers as it deems advisable to carry out its responsibilities
under this Section.
(4) A member of the Committee may not vote or decide upon any matter relating solely to
that member, or vote in any case in which the member's individual right or claim to any
benefit under the plan is involved. If a Committee member is required to abstain and
the remaining members of the Committee are unable to decide the matter, the City
Commission may appoint a temporary substitute member to the Committee.
Section 2. That should any section or provision of this ordinance or any portion thereof, any
paragraph, sentence, or word be declared by a court of competent jurisdiction to be invalid, such decision shall
not affect the validity of the remainder hereof as a whole or part thereof other than the part declared to be
invalid.
Section 3. That all ordinances or parts of ordinances in conflict herewith be, and the same are
hereby repealed.
Section 4. That this ordinance shall become effective immediately upon its passage on second and
final reading. A--
PASSED AND ADOPTED in regular session on second and Tina g 0 th the day of
1i•� -� , 2013. L
AYOR
ATTEST:
City Clerk '
First Reading `� r
Second Rcading r1 t—ou t
2 ORD. NO. 11 -13
ORDINANCE NO. 11 -13
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AMENDING CHAPTER 35, "EMPLOYEE
POLICIES AND BENEFITS ", SECTION, "35.105, "ADMINISTRATION
BY RETIREMENT COMMITTEE ", SUBSECTION (C) "ACTION BY
COMMITTEE ", TO REMOVE THE REQUIREMENT THAT THE CITY
COMMISSION MUST APPROVE CHANGES TO THE INVESTMENT
POLICY AS ADOPTED BY THE COMMITTEE; PROVIDING A
SAVING CLAUSE, A GENERAL, REPEALER CLAUSE, AND AN
EFFECTIVE DATE.
WHEREAS, the Retirement Committee periodically wishes to make changes to its written investment
policy in order to address market conditions; and
WHEREAS, pursuant to the City's ordinances the City Commission must approve any changes to the
investment policy; and
WHEREAS, in order to make this a more efficient process, the Committee has requested that the
requirement for City Commission approval be removed from the Ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That Chapter 35, "Employee Policies and Benefits ", Section 35.105, "Administration by
Retirement Committee ", Subsection (C) "Action by Committee ", of the Code of Ordinances of the City of Delray
Beach is hereby amended to read as follows:
(C) Action by Committee.
(1) A majority of the members of the Committee shall constitute a quorum for the
transaction of business and shall have full power to act hereunder.
(2) Committee meetings shall be noticed and open to the public. Meetings shall be
conducted in accordance with rules adopted by the Committee, or by Robert's Rules of
Order if the Committee has not adopted rules. Minutes of all meetings of the
Committee and a record of any action taken by the Committee shall be kept in written
form and such record shall be kept by the secretary appointed by the Committee.
Official Committee action shall be by majority vote of a quorum of the Committee.
(3) The Committee may invest and reinvest the assets of the Retirement Trust Fund in any
investment in which assets of the Florida Retirement System may be invested pursuant
to F.S. Section 215.47, as that statute may be amended from time to time, or in
accordance with written investment policies adopted by the Committee
The Committee may retain such professional consultants,
advisors and investment managers as it deems advisable to carry out its responsibilities
under this Section.
(4) A member of the Committee may not vote or decide upon any matter relating solely to
that member, or vote in any case in which the member's individual right or claim to any
benefit under the plan is involved. If a Committee member is required to abstain and
the remaining members of the Committee are unable to decide the matter, the City
Commission may appoint a temporary substitute member to the Committee.
Section 2. That should any section or provision of this ordinance or any portion thereof, any
paragraph, sentence, or word be declared by a court of competent jurisdiction to be invalid, such decision shall
not affect the validity of the remainder hereof as a whole or part thereof other than the part declared to be
invalid.
Section 3. That all ordinances or parts of ordinances in conflict herewith be, and the same are
hereby repealed.
Section 4. That this ordinance shall become effective immediately upon its passage on second and
final reading.
PASSED AND ADOPTED in regular session on second and final reading on this the day of
2013.
ATTEST:
City Clerk
First Reading
Second Reading
MAYOR
2 ORD. NO. 11 -13
Coversheet
MEMORANDUM
TO: Mayor and City Commissioners
FROM: Louie Chapman, Jr., City Manager
DATE: June 12, 2013
SUBJECT: AGENDA ITEM 10.A. - REGULAR COMMISSION MEETING OF JUNE 18, 2013
ORDINANCE NO. 11 -13
ITEM BEFORE COMMISSION
Page 1 of 1
This ordinance is before Commission for second reading to amend Chapter 35, "Employee Policies and
Benefits ", Section, 35.105, "Administration by Retirement Committee ", Subsection (C), "Action by
Committee ", to remove the requirement that the City Commission must approve changes to the General
Employees' Pension Board investment policy.
BACKGROUND
At the first reading on June 4, 2013, the Commission passed Ordinance No. 11 -13.
RECOMMENDATION
Recommend approval of Ordinance No. 11 -13 on second and final reading.
http:// itwebapp / Agendalntranet /Bluesheet.aspx ?ItemID= 6868 &MeetingID =452 6/19/2013
Coversheet
MEMORANDUM
TO: Mayor and City Commissioners
FROM: R. Brian Shutt, City Attorney
DATE: May 23, 2013
SUBJECT: AGENDA ITEM 11.A. - REGULAR COMMISSION MEETING OF JUNE 4, 2013
ORDINANCE NO. 11 -13
Page I of I
ITEM BEFORE COMMISSION
Approval of Ordinance No. 11 -13, to allow the General Employee's Pension Board to make changes in
its investment policy without approval by the City Commission.
BACKGROUND
Currently, anytime the General Employee's Pension Board wishes to change their investment policies,
before the change is effective, the City Commission must approve the change. In certain circumstances
the extra step of having the Commission approve the change to the investment policy may create a delay
that could be detrimental to the plan or it may require a special meeting of the Commission if immediate
action is needed.
RECOMMENDATION
Staff recommends approval of the proposed changes on first reading.
http:// itwebapp/ AgendaIntranet /Bluesheet.aspx ?ItemID= 6813 &MeetingID =450 6/12/2013
CITY OF DELRAY BEACH, FLORIDA
NOTICE OF PUBLIC HEARING
A PUBLIC HEARING will be held on the following proposed ordinance at 7:00 p.m. on
JUNE 18, 2013 (or at any continuation of such meeting which is set by the Commission),
in the Commission Chambers, 100 N.W. 1St Avenue, Delray Beach, Florida, at which
time the City Commission will consider its adoption. The proposed ordinance may be
inspected at the Office of the City Clerk at City Hall, 100 N.W. 1St Avenue, Delray
Beach, Florida, between 8:00 a.m. and 5:00 p.m., Monday through Friday, except
holidays. Interested parties are invited to attend and be heard with respect to the
proposed ordinance.
ORDINANCE NO. 11 -13
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF DELRAY
BEACH, FLORIDA, AMENDING CHAPTER 35, "EMPLOYEE POLICIES AND
BENEFITS ", SECTION, "35.105, "ADMINISTRATION BY RETIREMENT
COMMITTEE ", SUBSECTION (C) "ACTION BY COMMITTEE ", TO REMOVE THE
REQUIREMENT THAT THE CITY COMMISSION MUST APPROVE CHANGES TO
THE INVESTMENT POLICY AS ADOPTED BY THE COMMITTEE; PROVIDING A
SAVING CLAUSE, A GENERAL REPEALER CLAUSE, AND AN EFFECTIVE
DATE.
Please be advised that if a person decides to appeal any decision made by the City
Commission with respect to any matter considered at this hearing, such person may need
to ensure that a verbatim record includes the testimony and evidence upon which the
appeal is to be based. The City does not provide nor prepare such record pursuant to F.S.
286.0105.
CITY OF DELRAY BEACH
Chevelle D. Nubin, MMC
City Clerk
PUBLISH: Friday, June 7, 2013
Instructions to Newspaper:
This is a standard legal advertisement to be published in the legal /classified section of the
newspaper. There are no special requirements. Thank you.
s: CityClerk/Advertising20l 3 /ShellforCaptionAds
I REAL HEWS. STARTS HERE THE PALM BEACH POST
E6 PALMBEACHPOST.GOM
?tai me
CITY OF DELRAY BEACH, FLORIDA
NOTICE OF PUBLIC HEARING
A PUBLIC HEARING will be held on
the following proposed ordinance
at 7:00 p.m. an JUNE 78, 2013 (or at
any continuation of such meeting
which is set by the ,Commission], in
the Commission Chambers, 100 N.W.
1st Avenue, Delray Beach, Florida, at
which time the City Commission will
consider its adoption. The proposed
ordinance may be inspected at the
Office of the City Clerk at City Hall,
100 N.W. 1st Avenue, Delray Beach,
Florida, between $;00 a.m. and 5:00
p.M., Monday through Friday, except
holidays. Interested parties are invited
to attend and be heard with respect to
the proposed ordinance.
ORDINANCE NO. 11 -13
AN ORDINANCE OF THE CITY
COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA., AMENDING
CHAPTER 35, "EMPLOYEE POLICIES
AND BENEFITS ", SECTION, 135.105,
"ADMINISTRATION. BY RETIREMENT
COMMITTEE", .SUBSECTION (C)
"ACTION BY COMMITTEE ", TO
REMOVE THE REQUIREMENT THATTHE
CITY COMMISSION MUST APPROVE
CHANGES TO THE INVESTMENT POLICY
AS ADOPTED BY THE COMMITTEE;
PROVIDING A SAVING CLAUSE, A
GENERAL REPEALER CLAUSE, AND AN
EFFECTIVE DATE.
Please be advised that if a person`
decides to appeal any decision made
by the City Commission with respect to
any matter considered at this hearing,
such person may need to ensure that a
verbatim record includes the testimony
and. evidence upon which the appeal is
to be based, The City does not provide
nor prepare such record pursuant to
F,S, 286.0105. -
CITY OF DELRAY BEACH
Chevelle D. Nubin, MMC
City Clerk
PUB: The Palm Beach Post
6-07/2013 &93926
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