O-496-86 ORDINANCE NO. 496-86
AN ORDINANCE AMENDING THE PROVISIONS OF CHAPTER 18, ARTICLE III, OF THE
PENSION PLAN OF THE MIAMI SHORES VILLAGE CODE OF ORDINANCES TO PROVIDE
FOR THE ELECTION OF A POLICE REPRESENTATIVE TO THE PENSION BOARD, TO
PROVIDE FOR THE ELECTION OF THE SECRETARY OF THE PENSION BOARD, TO
PRESCRIB'E' A SYSTEM IFJOR FILLING APPOINTED AND ELECTIVE VACANCIES ON
THE BOARD AND TO AUTHORIZE THE BOARD TO DETERMINE THE ASSET ALLOCATION
mix.
BE IT ORDAINED BY MIAMI SHORES VILLAGE:
Section 1 . Sub-sections (a) and (b) and (h) of Section 18-39 of Article III
of the Miami Shores Village Code of Ordinances which read as follows:
(a) Purpose; composition; terms. The general administration of the �lan
and the responsibility for carrying out the provisions of the Plan
are hereby vested in a pension board. Such board shall be composed
of seven (7) members: the mayor, the village manager and the chief
of police and fire, ex officio, two (2) citizens and taxpayers of the
village who hold no office in and are not employed by the village,
one (1) councilman betildes the mayor and an active employee of the
village council . With the exception of the mayor, the village manager
and the chief of police and fire, the board members shall each serve
for a period of two (2) years, or until their successors are appointed,
which appointment shall be evidenced by an acceptance in writing of
such appointment. Appointed members may be removed at any time by a
majority vote of the village council .
(b) Chairman; secretary. The board shall elect a chairman from among its
members. The board shall also appoint a secretary who shall keep all
records of its meetings and actions and with the chairman execute on
behalf of the board any paper or instrument when so required by the
board.
(h) Vacancies. Any appointed member may resign at any time by delivering
his resignation to the village clerk, and such resignation shall
thereafter take effect on the date therein specified, A member may
also be removed at the pleasure of the village council . Vacancies,
however caused, shall be filled by action of the village council .
While a vacancy exists, the remaining members, provided that they
are not less than four (4) , are authorized to perform all functions
of the board.
are hereby amended to read:
(a) Purpose; composition; terms. The general administration of the Plan
and the responsibility for carrying out the provisions of the Plan
are hereby vested in a Pension Board. Such Board shall be composed
of seven (7) members: the mayor, the village manager, ex officio .
two (2) citizens and taxpayers of the Village who hold no office i,n
and are not employed by the village, one (1) councilman besides the
mayor, one (1) active general employee appointed by the council . and one
(1) police employee elected by active police members of the Plan.
With the exception of the mayor and the village manager, the board
members shall each serve for a period of two (2) years, or until their
successors are appointed or elected, which selection shall be evidenced
by an acceptance in writing of such selection. Appointed members may
be removed at any time by a majority vote of the village council .
(b) Chairman; secretary. The board shall elect a chairman and a secretary
from among its members. The secretary shall keep all records of its
meetings and actions and with the chairman execute on behalf of the
board any paper or instrument when so required by the board.
(h) Vacancies. Any appointed member may resign at any time by delivering
his resignation to the village clerk and such resignation shall
thereafter take effect as therein specified. An appointed member may
also be removed at the pleasure of the village council . Appointed
vacancies shall be filled by action of the village council . Elected
vacancies shall be filled by immediate electton of a new representative.
Persons appointed or elected to a vacancy shall serve out the term
of the original incumbent. While the vacancy exists, the remaining
members�, provided that they are not less than four (4) , are authorized
to perform all functions of the board.
Section 2. Sub-section 11 of Section 18-40 of Article III of the Miami
Shores Village Code of Ordinances is hereby created to read as follows:
(11 Determine from time to time as necessary the proper asset allocation
direction to be provided to Plan money managers.
Section 3. In all other respects, said ordinance is unaffected by this
amendment.
Section 4. This ordinance shall take effect immediately upon its passage.
PASSED on first reading this 2nd day of September 1986.
PASSED and ADOPTED this 16th day of September 1986.
Karen Ki b
Mayor
ATTEST: L.R. Forney, Jr.
Village Clerk
BY lkl
Charlotte Priddy
Deputy Village Clerk
APPROVED AS TO FORM:
William F. Fann, Jr.
Village Attorney