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C ITY f3F NfRTH OLMSTID <br />RESOLUTIQN N4. 3172 <br /> <br /> <br />R.LSQLUTION AUPHfIftIZING THE DIRECTEH UF FINANCE T(3 SUBMLT <br />A PRfPQSAL TO THE PUBLIC EMPLMM RLPTMEENT ,;^YS= gOR <br />FAYMNT QF TEE ARRMt3E DUE SAIl) 3YSTEM FRfM THE CITY OF <br />NOR'Tii WLSTED.. AND DECLARING AN E24ERGENCCY. <br />WMftUSO the Director of Financie and the Mayror have repsrted to <br />Counail that the Public Emplayees Retirement System iS reqtLeat3.ng prior to <br />the expiration of this awnth., that the City subaaatit to said Syatem a propoeal <br />for the paymeat by the City of the arrearage dus said 3ystem. <br />A!ClW.. Z'fiERMW., BE 2T RES€}I,VED by the Counail of the City of North <br />Qlmsted.9 State of Ohioz <br />Section ls That the Couacil upon due consideration of the problem <br />preserited bT the llirector of Finanee and the Mayor, herebg authorises the <br />D3rector of Finance of this City to submit to the Publia Employeeg Retirewnt <br />System the followl.ng proposal hereinafter set forth by uhich the City undertalcsa <br />to ].3.quidate the arrearages due from the City tQ the Public &mployeea Retirment <br />Systems <br />Upon said arrearage the I93sectox of Financae is authorized to make a <br />payment of Three Thousand Dollars ($32000.00), to said System from the City <br />on the arrearage and whioh the Director of Finance reports he has done. <br />Upon the balance due the Public EMloyees Retirement Systev, the <br />Director of Finame of the City is directed to pap on said arrearage the au¢n <br />of $1154.00 per month., together with the ctirrerrt obligations due the system <br />from eaid city as they accrwa, thereb,g pemitting the 13quidation of said <br />arrearage by June 30, 1963. <br />Section 2t That the Cl.erk of Council ia hereby anthorized to forward <br />to Public Employeea Retireant 53rst.em attention Frsd L. 3chneider,, Eaeautivs <br />Secrstaty,, an attest.ad capy of this resolution and 3.n the lstter oi eselamwe, <br />request Public EMlsyees Ret ' to notify the Direotor of Finsnce of the City <br />oP North Olmsted of the acceptance of the propossl herein contained. <br />Section 3: Wherefore, this reaolutian i.s hereby determ3ned to be <br />an emargeacy measure axd such emergency exiets by virtue of the neoessitp <br />of immediate],y notif.ying the Pub].ia Employees Retiremsnt Sywtem of t3hio of <br />Councilts pl.ans and the provisions for the liquidation of the arrearage due <br />said System f'rom the Gity which has been requested to be so furnished rtot <br />later than November 30, 1960, all for the preservation of the public peaae <br />and welfare of the City of North Oltasted. <br />Section 4: Wherefore, this Resolution sha11 take 3mediate effect <br />f'rom and after its gassage., otherwi.se., at the earliest period a2lowed by laW. <br />PASSED: NaVENIIiER 1,5-, 1960 <br />ATTEST: <br />L` Lo _se'Hall',, Z3erT of'Lounc-`3T <br />?. <br />41 ?.•r? <br />oe a o j esi e o oranc <br />APPRt}VED : <br />,., <br />Pau7. J. Garaiu., MaYor _ <br />?. <br />j/,? <br />`Ic