Ordinance 157 Audit & Reports Requirement CClub
ORDINANCE N0. 157-67
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AN ORDINANCE OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, AMENDING ORDINANCE
N0. 91, WHICH CREATED A BOARD OF GOVERNORS OF THE NORTH PALD'I BEACH COUNTRY CLUB,
BY CHANGING THE REQUIREMENTS FOR AUDITS AND REPORTS FROM EVERY THREE MONTHS TO
EVERY SIX MONTHS.
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BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA:
Section 1. Section 8 of Ordinance No. 91 of the Village of North Palm -
Beach be, and the same is hereby, amended by changing the requirements stated therein
that financial statements, audits and reports shall be made by the Board of Governors
from time to time as may be requested by the Vi1la,ge Manager, but in no event less
than every three months, to require that financial statements, audits and reports
to be made by the Board of Governors be not less than every six months or a.s ma.y
be requested more frequently by the Village Manager. Furthermore, any referral
in that section to a quarterly report shall henceforth be deemed to refer to a. semi-
annual audit.
PLACED ON FIRST READING THIS 12 DAY OF SEPTEMBER, 1967.
PLACED ON SECOND, FINAL READING AND PASSED THIS 26 DAY OF SEPTEI~iBER, 1967.
/s/ Thomas F. Lewis
Mayor
lJ
ATTEST:
/c/ Doi or R. Wad k
Village Clerk
In
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COPY OF AETNA CONTRACT ON FILE IN OFFICE
OF THE VILLAGE CLERK;
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ORDINANCE N0. 158-67
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AN ORDINANCE OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, AUTHORIZING
THE MAYOR AND VILLAGE CLERK TO ENTER INTO A CONTRACT ON BEHALF OF THE VILLAGE OF
NORTH PALM BEACH WITH AETNA LIFE INSURANCE COMPANY FOR GROUP ANNUITY INSURANCE FOR
PENSIONS AND LONG-TERM DISABILITY ]NCOME FOR. THE EMPLOYEES AND OFFICERS OP THE VILLAGE
AND SETTING FORTH AN EFFECTIVE DATE;.
BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA:
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Section 1. Pursuant to Chapter 167-421, Florida. Statutes, the Mayor and -
the Village Clerk be, and they a.re hereby, authorized to enter into an agreement with
Aetna Life Insurance Company on behalf of the Village of North Palm Beach to provide
group annuity insurance for pensions and long-term disability income for the employees
and officers of the Vi1la.ge of North Palm Beach according to the standard, non-con-
tributory, deferred annuity contra.et plan of the Aetna. Life Insurance Company, a copy
of which is to be attached to this Ordinance upon receipt by the Vi1.la.ge of North
Palm Beach, which shall incorporate the provisions set forth below.
Section 2, All full-time employees and officers of the Village of North
Palm Beach, except policemen and firemen (who a.re covered under their own pension
plans under other Florida. Sta.tutes), shall be eligible to pa.rticipa,te in the Village
of North Palm Beach Pension Plan upon condition that they have attained a,ge 30 and
have completed two years of service, or have completed five years of service prior to
attaining age 30.
Section 3. The Village of North Palm Beach shall pay the entire cost of-the
insurance premiums for the pension plan. _
Section 4. The benefits to be derived from the pension plan is a, guaranteed
yearly retirement annuity equal to one and one-half percent of the employee`s or officer's
earnings, multiplied times the eligible years of service with the Village beginning
September 1, 1967. In addition, those employees and officers who have served the
Village prior to September 1, 1967 shall have one and one-half percent of their current _
rate of earnings credited for a.ll full years of completed service, less the first _
two years of service; provided, however, that the maximum number of years credited
for past service before September 1, 1967 shall be four years.