HomeMy WebLinkAboutR-24-52 Mission Square LoansRESOLUTION NO. R-24-52
A RESOLUTION OF THE CITY OF SEBASTIAN, FLORIDA,
AMENDING THE MISSION SQUARE RETIREMENT PLAN TO
PERMIT LOANS; PROVIDING FOR CONFLICTS, SEVERABILITY,
SCRIVENER'S ERRORS AND AN EFFECTIVE DATE.
WHEREAS, the City of Sebastian has employees rendering valuable services; and
WHEREAS, the City of Sebastian has established a retirement plan ("the Plan") for such
employees, which serves the interest of the City of Sebastian by enabling it to provide reasonable
retirement security for its employees by providing increased flexibility in its personnel
management system, and by assisting in the attraction and retention of competent personnel; and
WHEREAS, the City of Sebastian has determined that permitting participants in the
retirement plan to take loans from the Plan will serve these objectives.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEBASTIAN, FLORIDA:
SECTION 1. RECITALS. The above recitals are hereby found to be true and correct and are
hereby adopted as the legislative intent of the City of Sebastian, Florida.
SECTION 2. AUTHORIZATION. The City of Sebastian, Florida hereby authorizes
participants in the retirement plan to take loans from the Plan, and authorizes the Mayor or his
designee and the City Clerk, as attesting witness, on behalf of the City of Sebastian.
SECTION 3. CONFLICTS/SEVERABILITY. If any section, sentence, phrase, word, or portion
of this Resolution is determined to be invalid, unlawful or unconstitutional, said determination
shall not be held to invalidate or impair the validity, force or effect of any other section, sentence,
phrase, word, or portion of this Resolution not otherwise determined to be invalid, unlawful, or
unconstitutional.
SECTION 4. SCRIVENER'S ERRORS. Sections of this Resolution may be renumbered or re -
Pagel of 2
lettered and corrections of typographical errors which do not affect the intent may be authorized
by the City Manager or designee, without need of further action by the City Council by filing a
corrected copy of same with the City Clerk.
SECTION 5. EFFECTIVE DATE. This Resolution shall become effective immediately upon
adoption by the City Council.
The foregoing Resolution was passed for adoption by Council Member McPartlan ,
was seconded by Council Member Jones and upon being put to a vote, the vote was
as follows:
Mayor Dodd
ave
Vice Mayor Dixon
aye
Council Member Jones
aye
Council Member McPartlan
aye
Council Member Nunn
ave
The Mayor thereupon declared this Resolution duly passed and adopted this 11 th day of
Sept. 2024.
ATTEST.•
ekCwu�e. l vj� Ovl
anette Williams, City Clerk
CITY COUNCIL OF THE CITY OF
SEBASTIAN, FLORIDA
1(2
Ed Dodd, Mayor
Approved as to form and - -
Legality: `
Je ifer Cockcroft, Esq., BCS, City Attorney