1838 ORDINANCE NO. 1838
AN ORDINANCE OF THE CITY OF SANFORD, FLORIDA,
AMENDING ORDINANCE NO. 1689 OF THE CITY OF
SANFORD, FLORIDA, BY AMENDING THE DEFINITIONS
OF "AVERAGE MONTHLY EARNINGS", "ACCUMULATED
CONTRIBUTIONS" AND "EFFECTIVE DATE";
PROVIDING FOR SEVERABILITY, CONFLICTS AND
EFFECTIVE DATE.
BE IT ENACTED BY THE PEOPLE OF THE CITY OF SANFORD,
FLORIDA:
SECTION 1: That Ordinance No. 1689 of the City of
Sanford, Florida, is hereby amended by deleting Section 1,
Subsections 10, 12 and 14 their entirety.
SECTION 2: That Ordinance No. 1689 of the City of
Sanford, Florida, is hereby amended by adding Section 1,
Subsections 10, 12 and 14 as follows:
"10. Average Monthly Earnings means 1/12th of the
arithmetic average of annual Earnings (base pay) for the five (5)
highest years of service of the ten (10) years immediately
preceding the retirement or termination of a Member."
"12. Accumulated Contributions means a Member's own
contributions to the Fund, assessed at a rate of 3.6% of
Earnings, plus amounts contributed on behalf of the Member at the
rate of 5% of Earnings."
"14. Effective Date means October 1, 1986."
SECTION 3: If any section or portion of a section of
this ordinance proves to be invalid, unlawful or unconstitu-
tional, it shall not be held to impair the validity, force or
effect of any other section or part of this ordinance.
SECTION 4: That all ordinances or parts of ordinances
in conflict herewith be and the same are hereby revoked.
SECTION 5: That this ordinance shall become effective
immediately upon its passage and adoption.
PASSED AND ADOPTED this 22nd day of September ,
A.D. 1986.
As t] omnission of the
Ci' ford, Florida.
CERTIFICATE
I, H. N. Tamm, Jr., City Clerk of the City of San-
ford, Florida, do hereby certify that a true and correct
copy of the foregoing Ordinance No. 1838, PASSED and ADOPTED
by the City Commission of the City of Sanford, Florida, on
the 22nd day of September, 1986, was POSTED at the front
door of the City Hall in the City of Sanford, Florida, on
the 23rd day of September, 1986. ~~~
A C
C a ford, Florida