Laserfiche WebLink
RESOLUTION NO. <br />Page 2 <br /> <br />81-174 <br /> <br />i. If the officer aforesaid does not <br />have dependents included under the <br />program, one hundred percent (100%) of <br />the premiums; <br /> <br />ii. If the officer aforesaid has <br />dependents included under the program, <br />an amount equal to ninety percent (90%) <br />of the total premium applicable to the <br />"family plan" covering said officer and <br />his or her dependents. <br /> <br />(c) Disability Insurance <br /> <br /> The City shall pay the full premium for <br />a long-term disability insurance plan for <br />said officer. <br /> <br />(d) Automobile <br /> <br /> The City shall provide, at said <br />officer's option, the amount of automobile <br />allowance authorized from time to time by the <br />City Council, or in lieu thereof an <br />automobile for said officer's exclusive use. <br /> <br />(e) Housing Expense <br /> <br />i. The City shall provide interim <br />financing for a term not exceeding one <br />(1) year to eliminate double mortgage <br />payments in the event said officer is <br />unable to sell said officer's residence <br />in the State of Maine prior to <br />purchasing a residence in Santa Ana. In <br />the event said home is not sold within <br />one (1) year from and after the date of <br />this resolution, the City and said <br />officer shall renegotiate the foregoing <br />provision. <br /> <br />ii. The City shall provide financing at <br />an interest rate not exceeding ten <br />percent (10%) such that said officer's <br />total monthly payment for housing, <br />including principal, interest, and <br />taxes, shall not exceed One Thousand <br />Dollars ($1,000.00) per month; provided, <br />however, said officer shall apply the <br />net equity received from the sale of <br />said officer's residence in Maine toward <br />the downpayment required for a residence <br />in Santa Ana; and provided further that <br />the total purchase price for a residence <br />does not exceed One Hundred Seventy <br />Thousand Dollars ($170,000.00). Said <br />financing shall include a provision that <br />in the event the residence or any part <br />thereof, or any interest thereon, is <br />sold, agreed to be sold, conveyed or <br />alienated by said officer, or by <br />operation of law oF otherwise, the <br />entire amount of principal and interest <br />shall become immediately due and <br />payable; and in the event said officer <br />resigns or is dismissed from office, or <br />for any other reason vacates such <br />office, the entire amount of principal <br />and interest shall become due and <br />payable within ninety (90) days of <br />resignation, dismissal or vacation. <br /> <br /> <br />