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2025-03RESOLUTION NO. 2025 - 03 A RESOLUTION OF THE MAYOR AND VILLAGE COUNCIL OF MIAMI SHORES VILLAGE, APPROVING THE MEMORANDUM OF UNDERSTANDING BETWEEN MIAMI SHORES VILLAGE AND THE GREATER MIAMI SHORES FRATERNAL ORDER OF POLICE, LODGE #63, INC., REGARDING THE DEFERRED RETIREMENT OPTION PLAN (DROP); PROVIDING FOR IMPLEMENTATION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Miami Shores Village (the "Village") and the Greater Miami Shores Fraternal Order of Police, Lodge #63, Inc. (the "Union") are parties to a collective bargaining agreement effective October 1, 2023, through September 30, 2026, which sets forth the terms and conditions of employment for the Village's sworn police personnel; and WHEREAS, the Village maintains a defined benefit pension plan, known as the Miami Shores Police Officers' Retirement System (the "Plan"), which includes a Deferred Retirement Option Plan ("DROP") currently permitting sworn members to participate for a period of up to five (5) years; and WHEREAS, the Village and the Union have negotiated changes to the Plan to allow for an eight -year DROP participation period and to permit members currently in the DROP program to extend their participation by up to three (3) additional years; and WHEREAS, the proposed changes to the DROP participation period are memorialized in the attached Memorandum of Understanding (MOU) and will be incorporated into the next collective bargaining agreement; and WHEREAS, the Village shall codify the proposed changes to the DROP participation period in its Code of Ordinances; and WHEREAS, the Village Council has determined that approving the MOU is in the best interest of the Village and its sworn police personnel. NOW, THEREFORE, BE IT RESOLVED by the Village Council of Miami Shores, Florida that: Section 1. Recitals Adopted. The foregoing recitals are true and correct. Section 2. Approval. The Village Council approved the Memorandum of Understanding (MOU) between the Village and the Union, a copy of which is attached hereto as Exhibit "A." Section 3. Implementation. The Village Manager is hereby authorized to execute the MOU on behalf of the Village subject to approval as to form and legal sufficiency by the Village Attorney and take any action necessary to implement its terms. Section 4. Effective Date. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 21 st day of January, 2025. Mayor George B h ATTEST: Ysabely R ez, iIl'age Clerk APPROVED AS TO FORM AND LEGAL SUFFICIENCY: Village Attorn Weiss Serota Helfman Cole & Bierman P.L.