91-7759R14
RESOLUTION NO. 7759
RESOLUTION APPROVING CONTINUATION OF THE PROCESS
OF CONSOLIDATION OF THE RICHFIELD POLICE
RELIEF ASSOCIATION WITH THE PUBLIC EMPLOYEES
RETIREMENT ASSOCIATION POLICE AND FIRE FUND
WHEREAS, The 1987 legislature adopted legislation (Laws
1987, Chapter 296, codified a Chapter 353A of Minnesota Statutes)
enabling local police and firefighters relief associations to be
voluntarily consolidated with the Public Employees Retirement
Association Police an Fire Fund (P.E.R.A.) with the consent of
the relief association membership and the approval of the
governing body of the affected municipality; and
WHEREAS, pursuant to such legislation, a sufficient petition
initiating the consolidation process was submitted by members of
the Richfield Police Relief Association (Association) to the
Board of Trustees of such Association, and the Board held the
required public hearing on March 18, 1991 and conducted the
required membership referendum on the issue on May 3, 1991; and
WHEREAS, the membership of the Association has approved
consolidation by a vote of 44 Yes, 5 No and 4 No Reply, and
therefore, the Board of Trustees of the Association has
recommended that the Association be consolidated with the
P.E.R.A.; and
WHEREAS, the next step required in the consolidation process
is the adoption by the City Council of a resolution granting
preliminary approval to consolidation, for the purpose of
continuing the process via the preparation of actuarial,
investment, and membership data studies;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the
City of Richfield hereby gives its preliminary approval for the
purpose of continuation of the process of considering the
proposed consolidation of the Richfield Police Relief Association
with the Public Employees Retirement Association Police and Fire
Fund.
Passed by the City Council of the City of Richfield, Minnesota
this 10th day of June, 1991.
Martin J. K sch Mayor
ATTEST:
, (.~
Thomas P. Ferber City Clerk