HomeMy WebLinkAboutNS-1839 - Adding Article XIIIEJC:k-1
02/07/86
ORDINANCE NO. NS-]839
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA ADDING ARTICLE XIII
TO CHAPTER 13 OF THE SANTA ANA MUNICIPAL
CODE ESTABLISHING THE SPECIAL PENSION
OBLIGATIONS FUND AND PRESCRIBING THE
PURPOSES AND USES THEREOF, AND DETERMINING
THAT PURCHASE OF ANNUITIES CONSTITUTES
A PENSION OBLIGATION OF THE CITY
THE CITY COUNCIL OF THE CITY OF SANTA ANA DOES ORDAIN AS
FOLLOWS:
SECTION 1. Declaration of Public Uses and Purposes.
The City Council hereby finds and determines that the
financing of the pension obligations of the City and the
establishment of a special fund for the purpose of receiving,
holding and disbursing amounts relating to such pension
obligations, serve the public purposes of the City. The City
Council further hereby finds and determines that the purchase
of annuities with respect to beneficiaries under the City's
pension program, for the purpose of financing a portion of
the City's obligations under such pension program, constitutes
a proper exercise of the powers of the City with respect to
its obligations relating to such pension program and serves
the public purpose of the City.
SECTION 2. Municipal Affair.
The City Council hereby finds and determines that the activ-
ities set forth in Section 1 of this Ordinance, are municipal
affairs, necessary and approprite to a municipal corporation
and the general welfare of its inhabitants, and are not
prohibited by the Constitution of the State of California or
by the City Charter.
ARTICLE XII. SPECIAL PENSION OBLIGATIONS FUND
Sec. 13-115 Creation of Special Pension
Obigations Fund.
There is hereby created and established the Special
Pension Obligations Fund, which shall be held and administered
by the Director of Finance, the City Manager and the City
Attorney as custodians. The Special Pension obligations Fund
ORDINANCE NO. NS- ]839
Page Two
shall be established as a special fund for the purpose of
receiving, holding and disbursing amounts relating to the
Pension obligations of the City and shall not be used for
any other purpose.
Sec. 13-166 Deposit of Monies.
The City shall deposit into the Special Pension
Obligations Fund, promptly upon the receipt thereof, all
amounts relating to the Pension Obligations of the City.
Such amounts shall include, without limitation, (a) all
gross revenues and amounts derived with respect to the
Annuities and (b) all amounts required to be paid by the
City to the Public Employees' Retirement System ("PERS")
organized and existing pursuant to the Public Employees'
Retirement Law of the State of California (constituting
Part 3 of Division 5 of the Government Code of the State
of California). All amounts deposited into the Special
Pension Obligations Fund shall be deemed to be special
funds derived with respect to the Pension Obligations
of the City, and shall be accounted for separately and
apart from all other monies, funds and accounts of the
City and shall not be used for any other purpose.
Sec. 13-117 Expenditure of Monies
Amounts in the Special Pension Obligations Fund
shall be expended solely for the purpose of financing the
Pension Obligations of the City.
Sec. 13-118 Pledge and Allocation of Monies
The City may pledge, and may grant a security
interest in and lien upon, all or any portion of the amounts
deposited into the Special Pension Obligations Fund for the
purpose of securing the payment of all or any portion of
the Pension Obligations of the City.
Sec. 13-119 Pension Obligations Defined
As used in this Article, the term "Pension
Obligations" shall mean all obligations of the City to
finance the retirement system of the City, including but
not limited to (a) the obligations of the City to make
payment to the Public Employees' Retirement System pursuant
to the contract (the "PERS Contract") between the City and
PERS dated as of November 25, 1946, as amended from time
to time, and (b) the obligations of the City to pay install-
ments of the purchase price of the Annuities.
ORDINANCE NO. NS-1839
Page three
Sec. 13-120 Annuities Defined
As used in this Article, the term "Annuities" shall
mean all annuities purchased by the City with respect to
beneficiaries under the PERS Contract, including but not
limited to all annuities purchased by the City from the Santa
Ana Financing Corporation.
SECTION 4. Validatin~ Proceedings.
An action to determine the validity of any provisions of
this Ordinance may be brought pursuant to Chapter 9 (commencing
with Section 860) of Title 10 of Part 2 of the Code of Civil
Procedure.
SECTION 5. Liberal Construction.
This Ordinance, being necessary for the health, welfare
and safety of the City and its residents, shall be liberally
construed to effect its purposes. Furthermore, this Ordinance
has been adopted by the City Council as an exercise of the
power as to municipal affairs granted to the City by the
Constitution of the State of California and shall be liberally
construed to uphold its validity under the laws of the State.
SECTION 6. Severability.
If any section, subsection, sentence, clause, phrase
or portion of this Ordinance is for any reason held to be
invalid or unconstitutional by the decision of any court of
competent jurisdiction, such decision shall not affect the
validity of the remaining portions of this ordinance. The
City Council hereby declares that it would have adopted this
ordinance and each section, subsection, sentence, clause,
phrase or portion thereof irrespective of the fact that any
one or more sections, subsections, sentences clauses, phrases
or portions thereof be declared invalid or unconstitutional.
SECTION 7. Publication.
The City Clerk is hereby authorized and directed to
publish the title of this Ordinance pursuant to Section
416 of the City Charter.
RESOLUTION NO.
Page Four
NS-1839
SECTION 8. Effective Date.
This Ordinance shall become effective at the expiration
of thirty (30) days after the adoption thereof.
ATTEST:
ADOPTED this 3rd day of March , 1986.
Daniel E. Griset,
Mayor
/~ar~ice C. Guy /F~---/
{/Clerk of the Cotfnc~l /
COUNCILMEMBERS:
Griset Aye
Acosta Aye
Hart Aye
Johnson Aye
Luxembourger Aye
McGuigan Aye
Young Aye
APPROVED AS TO FORM: