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01-06-1997 Voting Order • Councilwoman Martin Councilman Hays Councilman Mitchum Mayor Hayman Councilman Hatfield AGENDA CITY COUNCIL OF EDGEWATER JANUARY 6, 1997 7:00 p.m. COMMUNITY CENTER 1. CALL TO ORDER, ROLL CALL, INVOCATION, PLEDGE OF ALLEGIANCE 2. APPROVAL OF MINUTES A. Regular meeting of December 16, 1996 3. CITIZEN COMMENTS REGARDING AGENDA ITEMS ONLY (Other than public hearings) 4. CITY COUNCIL REPORTS 5. PUBLIC HEARINGS, ORDINANCES AND RESOLUTIONS A. Public hearing Res. 96 -R -27 and 96 -R -28 regarding abandonment of rights -of -way on portion of Guava Drive and portion of 16th Street (Continued from 10/21/96, and 11/18/96) B. First reading Ord. 97 -0 -01 Clarifying, restating and adopting City of Edgewater, Florida Police Retirement Plan C. Res. 96 -R -30 Requesting U.S. Army Corps of Engineers provide funds and complete emergency work at North Jetty, Ponce DeLeon Inlet (Tabled 12/16/96) D. Res. 96 -R -31 Requesting U.S. Congress authorize restabilization project at North Jetty, Ponce DeLeon Inlet, and appropriate funding for Federal share (Tabled 12/16/96) E. Res. 96 -R -32 Requesting financial assistance from State of Florida through its Inlet Management Grant Program to fund 50% of Port Authority share for North Jetty, Ponce DeLeon Inlet restabilization (Tabled 12/16/96) 6. CONSENT AGENDA (None) 7. OTHER BUSINESS A. Discussion of Economic Development Board and appointment of two members due to resignations of Philip Fong and William Fair B. Canceling or rescheduling meeting of Monday, February 20, 1997, due to Presidents Day holiday 8. GENERAL CITIZEN COMMENTS /CORRESPONDENCE 9. OFFICER REPORTS 10. ADJOURN. NOTE: Due to the Martin Luther King Birthday holiday, the next regular City Council meeting will be held Monday, February 3, 1997. All items for inclusion on the February 3, 1997, agenda must be received by the City Manager's office no later than 4:30 p.m. Monday, January 27, 1997. Pursuant to Chapter 286, F.S., if an individual decides to appeal any decision made with respect to any matter considered at a meeting or hearing, that individual will need a record of the proceedings and will need to insure • that a verbatim record of the proceedings is made. In accordance with the Americans with Disabilities Act, persons needing assistance to participate in any of these proceedings should contact City Clerk Susan Wadsworth, 904 - 424 -2407, prior to the meeting. S.A. D MEMORANDUM DEC 3 1996 CITY MA NAGER TO: George E. McMahon, City Manager FROM: Mark P. Karet, Director of Community Development' DATE: December 30, 1996 SUBJECT: AB- 9601 /Rodney Jones i Abandonments of Portions of 16th Street and Guava Drive The public hearings on resolutions 96 -R -27 and 96 -R -28 addressing the proposed abandonments were continued f o th November 18,1996 meeting until January 6,1997. Unfortunately, Rodney done ill not be able to attend this meeting. I met with Mr. Jones last week and learned that business commitments have made it difficult for him to move forward in a timely manner with his application. He asks the Council not to continue the hearing at their January 6, 1997 meeting. If further progress is made on this matter sometime in the future, he will then request a new hearing. cc: Rodney Jones Councilman Hays had nothing at this time. Councilman Mitchum had nothing at this time. PUBLIC HEARINGS, ORDINANCES AND RESOLUTIONS `tor A. Public hearing Res. 96 -R -27 and 96 -R -28 regarding abandonment of rights -of -way on portion of Guava Drive and portion of 16th Street (Continued from October 21, 1996) Community Development Director Mark Karet informed Council he was unable to meet with Mr. Jones until today. He requested this be brought back at the January 6th meeting. Councilman Hatfield made a motion to continue this until the January 6th meeting, second by Councilwoman Martin. The motion CARRIED 5 -0. CONSENT AGENDA A. Retaining Dean, Ringers, Morgan and Lawton in reference to Dennis I. Fischer v. City of Edgewater, George E. McMahon and Mark P. Karet Mayor Hayman requested this item be removed from the Consent Agenda. Nur Mayor Hayman elaborated on there being two items in question. Should the City retain counsel to represent the City of Edgewater and should the City also ask the law firm to represent two City employees that have been challenged for their actions while acting officially on behalf of the citizens of this community? Mayor Hayman expressed concern with citizens who volunteer on boards representing our City who may find themselves in a similar situation. He feels whatever decision is made should also be applicable to any person serving on behalf of the citizens of this community. City Attorney Storey explained each situation would have to be looked at individually. One of the reasons she has recommended that Council provide for the representation of Mr. McMahon and Mr. Karet is because there is nothing within the allegations or the background of this situation that she is aware of that would result in there being a difference in the interest of the City and the employees involved. Mayor Hayman further commented on the City representing the volunteers. He , asked for a public explanation so it can be disseminated to the people who serve the City. City Attorney Storey stated if a determination is made that the individual was acting within the scope of the authority of their position, then her recommendation will be always to the Council that the City provide for their defense. If there is something outside the scope of whatever that position is that has come to her attention, we go through an exercise of evaluating that case and the allegations and the circumstances as we know them and we will come forward to the Council. She further explained each situation is dealt with on a case -by -case basis. Councilman Hatfield made a motion to approve Item 6A, second by Councilwoman Martin. The motion CARRIED 5 -0. Page -2- Council Regular Meeting `4110• November 18, 1996 MEMORANDUM NOV 3 inn err 'Yqe +r a. a+sY.kxy TO: George E. McMahon City Manager FROM: Mark P. Karet, Director Department of Community Development DATE: November 13, 1996 SUBJECT: Guava Drive & 16th Street Abandonments (AB -9601) Resolutions 96 -R -27 and 96 -R -28 Applicant - Rodney L. Jones At the October 21, 1996 City Council Meeting a public hearing on two resolutions was held and continued to November 18, 1996. Due to scheduling conflicts Rodney Jones and 1 have not yet been able to meet. A meeting has been scheduled for Monday morning. The public hearing will have to be *ow continued again or rescheduled. I will have more information Monday night concerning when this matter can be brought back before the Council. 1 21) )1^- Mayor Hayman requested appointing someone else to represent the City on the Water Alliance. They have changed the meeting dates to Thursday and it is impractical for him to be there Thursday mornings at 8:30 a.m. The meetings are held the fourth Thursday of the month in the Pelican Bay Plaza in the offices of the Water Alliance which is shared with VCOG and the MPO. Councilman Hays asked for a few days to look at this to see what they could come up with. Councilman Hatfield had nothing at this time. PUBLIC HEARINGS, ORDINANCES AND RESOLUTIONS A. Public hearing Res. 96 -R -27 and 96 -R -28 /regarding abandonment of rights -of -way on portion of Guava Drive and portion of 16th Street Mayor Hayman would like to be able to have one public hearing to discuss both resolutions but they would have to vote separately on each resolution. Mayor Hayman read Res. 96 -R -27 and 96 -R -28 and opened the public hearing. Community Development Director Mark Karet made a staff % my presentation. He called Council's attention to two items of concern and presented the background information. The two items of concern have been incorporated into the proposed resolutions. Mr. Karet informed of a letter submitted by the applicant as well as three conceptual plans which show very roughly what he intends to do with the property. Councilman Hays questioned if they had a site plan. Mr. Karet informed Councilman Hays it is premature for him to have site plans developed as he has no idea how much property he will have to work with. Councilman Hays feels they have to look at the issue of value to the City and taxpayers if they do this. If there is a commercial building built on the site and that increases taxes, that would be good for everybody. If we go ahead with this and nothing is built there, it increases the value of the property for resale. He questioned how the City will benefit. 4100 Mr. Karet addressed Councilman Hays' concerns. Rodney Jones, American Sock & Dewatering Inc., Port Orange, stated they would like to move their business into the Edgewater area. Mr. Jones commented on FEC being awarded half of Guava Drive and him being awarded the other half. He looked back in the records and found another part of Guava Drive that was not split, it was awarded all to the property owner. Mayor Hayman questioned where this property is located. Mr. Jones informed him it would be behind Lots 448 & 447 which would be just south of the drainage canal. City Attorney Storey stated in her experience it is a standard practice that when a right -of -way is abandoned, it splits. She agreed to look at the particulars due to there may have been a circumstance, such as FEC deeding the right -of -way to the other property owner. Councilman Mitchum questioned where Mr. Jones got his information. He explained the property was probably either a transfer of deed or someone bought the property. Page -2- Council Regular Meeting October 21, 1996 Councilman Mitchum commented on property on the river sold to Higginbotham by the City of New Smyrna Beach. He would like to know how this was done. Mayor Hayman spoke about some experiences they have had such as with Coronado Paint Company and the benefit was immense from the give and take scenario. He commented on an incident where the Council was asked to do something which they did with the mistaken belief that they would have some sort of expeditious return on taxpayer investment. Mayor Hayman spoke about taxpayer dollars and resources. Councilman Hays would be, willing to support the vacation of this property if he knew that this building was going to be built. He would like to see the people in the City benefit as well as Mr. Jones. Councilman Mitchum stated if Mr. Jones brings something back in a conceptual nature, then Council can act on that. Mr. Jones spoke about possibly purchasing the other portion of the property from FEC. He would like to research this further. Mayor Hayman stated he would like Mr. Jones to come back with a Noy comprehensive proposal that does not require an inordinate amount of engineering and design fees. Mayor Hayman asked City Attorney Storey if it would be proper to entertain a motion for continuance of this until such time that Mr. Jones could return to Council with the answers to their questions. City Attorney Storey urged Mayor Hayman to allow the public to speak and then go through deliberations. Due to there being no one in the public wishing to speak, Mayor Hayman closed the public hearing. City Attorney Storey presented some alternatives to make sure Mr. Jones does what he says he wants to do. Mr. Karet feels they should be able to come to terms with Mr. Jones. Mayor Hayman spoke about the problems he has with Mr. Jones request. He feels they only have a vague idea of what Mr. Jones wants to do. wr Mr. Karet further elaborated on other alternatives. Mayor Hayman can't support this until he knows what Mr. Jones wants to do and presents more detail. He feels Mr. Jones should follow the model that was created in dealing with Coronado Paint Company. Councilman Hatfield made a motion to continue this request, second by Councilman Hays. The motion CARRIED 5 -0. City Attorney Storey informed Council they would need to amend the motion to include a date certain. Councilman Hatfield amended the motion to continue this request until the November 18th meeting, second by Councilman Hays. The motion CARRIED 5 -0. CONSENT AGENDA A. Renewal of EmployeeAssistance program contract with Act, � Inc. Councilman Hays moved to approve, second by Councilman Mitchum. The motion CARRIED 5 -0. Page -3- Council Regular Meeting October 21, 1996 • AGENDA REQUEST C.A. NO.: 96 -163 Now Date: December 31, 1996 PUBLIC HEARING RESOLUTION ORDINANCE 01/06/97 OTHER CONSENT BUSINESS CORRESPONDENCE ITEM DESCRIPTION /SUBJECT: First Reading Ordinance No. 97 -0 -01 Clarifying, Restating and Adopting City of Edgewater, Florida Police Retirement Plan BACKGROUND: Pursuant to the provisions of Chapter 185, Florida Statutes, the City has had its own pension plan for police officers (a local law plan) since 1978. Over the years, the plan document has been in a state of transition. In order to facilitate the administration of the plan and better communicate the contents of the plan to its members, it was determined that a clarification and restatement of the plan was needed. Accordingly, attached as Exhibit A to Ordinance No. 97 -0 -01 is a 141r restated City of Edgewater, Florida, Police Retirement Plan. The restated plan does not change any of the benefits currently provided. The document sets forth the benefits, the mechanism for administering the plan, and the duties and responsibilities of the Board of Trustees as well as bringing the plan into compliance with applicable laws. RECOMMENDATION /CONCLUSION: Staff recommends that the City Council coisider approval of Ordinance No. 97 -0 -01 on first reading. FUNDS AVAILABLE: (ACCOUNT NUMBER) (SPECIFY IF BUDGET AMENDMENT IS REQUIRED) PREVIOUS AGENDA ITEM: YES NO XX DATE: AGENDA ITEM NO. Respectfully submitted, Concurrence: Now .� .011 1�� 7,P rr. � c wiz,e40 __-_ K i :ta A. Storey 40 eorge McMahon City/Attorney City Manager KAS Attachment ORDINANCE NO. 97 -0 -01 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF EDGEWATER, FLORIDA, CLARIFYING, RESTATING AND ADOPTING THE CITY OF EDGEWATER, FLORIDA, POLICE RETIREMENT PLAN; 'tor PROVIDING FOR FORMAT AND DEFINITIONS; PROVIDING FOR PARTICIPATION, ACTIVE PARTICIPANT, INACTIVE PARTICIPANT, AND CESSATION OF PARTICIPATION; PROVIDING FOR CONTRIBUTIONS, EMPLOYER CONTRIBUTIONS, REQUIRED CONTRIBUTIONS BY PARTICIPANTS, AND INVESTMENT OF CONTRIBUTIONS; PROVIDING FOR RETIREMENT BENEFITS, ACCRUED BENEFIT, BENEFIT LIMITATION, AMOUNT OF BENEFIT AT RETIREMENT, TEMPORARY LIMITATION OF BENEFITS, AND BENEFITS UPON REEMPLOYMENT AFTER RETIREMENT; PROVIDING FOR OTHER BENEFITS, DEATH BENEFITS, VESTED BENEFITS, AND DISABILITY BENEFITS; PROVIDING FOR WHEN BENEFITS START AND DISTRIBUTION OF BENEFITS, AUTOMATIC FORMS OF DISTRIBUTION, OPTIONAL FORMS OF DISTRIBUTION AND DISTRIBUTION REQUIREMENTS, AND ELECTION PROCEDURES; PROVIDING FOR TERMINATION OF PLAN; PROVIDING FOR ADMINISTRATION OF PLAN, RECORDS, INFORMATION AVAILABLE, AND DELEGATION OF AUTHORITY; PROVIDING FOR GENERAL PROVISIONS, AMENDMENTS, DIRECT ROLLOVERS, PROVISIONS RELATING TO THE INSURER, EMPLOYMENT STATUS, RIGHTS TO PLAN ASSETS, BENEFICIARY, NONALIENATION OF BENEFITS, CONSTRUCTION, LEGAL ACTIONS, SMALL AMOUNTS AND WORD `frr USAGE; PROVIDING FOR CONFLICTING PROVISIONS, SEVERABILITY AND APPLICABILITY; PROVIDING FOR AN EFFECTIVE DATE AND FOR ADOPTION. WHEREAS, the City Council of the City of Edgewater, Florida, has made the following determinations: 1. Chapter 185, Florida Statutes, authorizes the City to have its own pension plan for police officers. 2. The City has had such a local law plan since 1978. ?? 3. Over the years the plan document has been in a state of transition. 4. It is in the best interest of the residents of the City, the police officers who are members of the plan, and the Board of Now Trustees that the pension plan document be clarified, restated and adopted by the City Council clearly setting forth the plan benefits, the mechanism for administering the plan and the duties and responsibilities of the Board of Trustees. NOW, THEREFORE, BE IN ENACTED by the people of the City of Edgewater, Florida: PART A. RESTATEMENT AND ADOPTION OF CITY OF EDGEWATER, FLORIDA POLICE RETIREMENT PLAN The restated City of Edgewater, Florida Police Retirement Sttu.il tiu vu,li passages are deleted. Underlined passages are added. 97 -o -01 1 Plan, attached hereto and incorporated by reference as Exhibit A, is hereby adopted. PART B. CONFLICTING PROVISIONS. All conflicting ordinances and resolutions, or parts thereof in conflict with this ordinance, are hereby superseded by this ordinance to the extent of such conflict. PART C. SEVERABILITY AND APPLICABILITY. If any portion of this ordinance is for any reason held or declared to be unconstitutional, inoperative, or void, such holding shall not effect the remaining portions of this ordinance. If this ordinance or any provisions thereof shall be held to be inapplicable to any person, property, or circumstances, such holding shall not affect its applicability to any other person, property, or circumstance. PART D. EFFECTIVE DATE. This ordinance shall take effect upon adoption. PART E. ADOPTION. After Motion by and Second by , the vote on the first reading of this ordinance held on , 19 , was as follows: Mayor Jack H. Hayman, Sr. XXX Councilman Danny K. Hatfield XXX Councilwoman Louise A. Martin XXX Now Councilman Mike Hays XXX Councilman David L. Mitchum XXX After Motion by and Second by , the vote on the second reading of this ordinance was as follows: Mayor Jack H. Hayman, Sr. XXX Councilman Danny K. Hatfield XXX Councilwoman Louise A. Martin XXX Councilman Mike Hays XXX Councilman David L. Mitchum XXX Struck-through passages are deleted. Underlined passages are added. 97 -0 -01 2 a r PASSED AND DULY ADOPTED this day of , 19 ATTEST: CITY COUNCIL OF THE CITY OF EDGEWATER, FLORIDA By: Susan J. Wadsworth Jack H. Hayman, Sr. City Clerk Mayor APPROVED FOR FORM AND CORRECTNESS: Now Krista A. Storey City Attorney Struck-through passages are deleted Underlined passages are added. 97 -0 -01 3 A CITY OF EDGEWATER, FLORIDA POLICE RETIREMENT PLAN Defined Benefit Plan 7.6 Restated October 1, 1989 O O ztv /j TABLE OF CONTENTS u INTRODUCTION ARTICLE I FORMAT AND DEFINITIONS Section 1.01 Format Section 1.02 Definitions ARTICLE II PARTICIPATION Section 2.01 Active Participant Section 2.02 Inactive Participant Section 2.03 Cessation of Participation ARTICLE III CONTRIBUTIONS Section 3.01 Employer Contributions Section 3.01A Required Contributions by Participants Section 3.02 Investment of Contributions ARTICLE IV RETIREMENT BENEFITS botiorw Section 4.01 Accrued Benefit Section 4.02 Benefit Limitation Section 4.03 Amount of Benefit at Retirement Section 4.04 Temporary Limitation of Benefits Section 4.05 Benefits upon Reemployment after Retirement Date ARTICLE V OTHER BENEFITS Section 5.01 Death Benefits Section 5.02 Vested Benefits Section 5.03 Disability Benefits ARTICLE VI WHEN BENEFITS START AND DISTRIBUTION OF BENEFITS Section 6.01 When Benefits Start Section 6.02 Automatic Forms of Distribution Section 6.03 Optional Forms of Distribution and Distribution Requirements Section 6.04 Election Procedures ARTICLE VII TERMINATION OF PLAN TABLE OF CONTENTS 3 (59448) • DMA ARTICLE VIII ADMINISTRATION OF PLAN Section 8.01 Administration Nfisv Section 8.02 Records, Section 8.03 Information Available Section 8.04 Delegation of Authority ARTICLE IX GENERAL PROVISIONS Section 9.01 Amendments Section 9.02 Direct Rollovers Section 9.03 Provisions Relating to the Insurer Section 9.04 Employment Status Section 9.05 Rights to Plan Assets Section 9.06 Beneficiary Section 9.07 Nonalienation of Benefits Section 9.08 Construction Section 9.09 Legal Actions Section 9.10 Small Amounts Section 9.11 Word Usage PLAN EXECUTION Nor TABLE OF CONTENTS 4 (59448) °a Tif INTRODUCTION The Employer previously established a defined benefit retirement plan on February 1, 1978. The Primary Employer is of the opinion that the plan should be changed. It believes that the best means to accomplish these changes is to completely restate the plan's terms, provisions and conditions. The restatement, effective October 1, 1989, is set forth in this document and is substituted in lieu of the prior document. The provisions of this Plan apply as of the date specified above or such other date as may be specified in this Plan with the following exceptions: The provisions included to comply with the technical corrections to the Deficit Reduction Act of 1984 (DEFRA) contained in the Tax Reform Act of 1986 (TRA) are effective as if included in the respective laws to which the corrections apply. The provisions included to comply with the provisions of the Tax Reform Act of 1986 other than the technical corrections to DEFRA are effective as of the dates specified in the law. The provisions included to comply with the provisions of the Omnibus Budget Reconciliation Act of 1986 (OBRA 86) are effective as of the dates specified in the law. The provisions included to comply with the final regulations on optional forms of benefit issued July 11, %` 1988, are effective as of the effective date prescribed by such regulations. The provisions included to comply with the provisions of the Technical and Miscellaneous Revenue Act of 1988 are effective as of the dates specified in the law. The restated plan continues to be for the exclusive benefit of employees of the Employer. All persons covered under the plan on September 30, 1989, shall continue to be covered under the restated plan with no loss of benefits. It is intended that the plan, as restated, shall continue to meet the requirements for a governmental plan under the Internal Revenue Code of 1986, including any later amendments to the Code. `Mitt INTRODUCTION 5 (59448) OMA,Fy ARTICLE I FORMAT AND DEFINITIONS Now SECTION 1.01 -- FORMAT. Words and phrases defined in the DEFINITIONS SECTION of Article I shall have that defined meaning when used in this Plan, unless the context clearly indicates otherwise. These words and phrases will have an initial capital letter to aid in identifying them as defined terms. SECTION 1.02 -- DEFINITIONS. ACCRUAL SERVICE means the total of an Employee's Continuous Service, expressed as whole years and fractional parts of a year (to two decimal places) on the basis that 365 days equal one year. Such total shall equal one year. Such total shall be equal to the period from his Employment Commencement Date to the date of determination. However, Accrual Service is modified as follows: Period of Military Duty included: A Period of Military Duty shall be included as service with the Employer to the extent it has not 414100 already been credited. ACCRUED BENEFIT means the amount of monthly retirement benefit on the Normal Form accrued by an Active Participant as of any date. See the ACCRUED BENEFIT SECTION of Article IV. ACTIVE PARTICIPANT means an Eligible Employee who is actively participating in the Plan according to the provisions in the ACTIVE PARTICIPANT SECTION of Article II. ACTUARIAL EQUIVALENT means equality in the value of the aggregate amounts expected to be received under different forms of payment based on the rates determined below. The amount of each payment under an optional form shall be determined by multiplying the amount payable on the Normal Form by the ratio of (a) the purchase rate available under Group Contract GA 59448 for the Normal Form, to (b) the purchase rate available under such Group Contract for the optional form at the time benefits are determined. The benefit from a single sum on an optional form shall be the Actuarial Equivalent of the benefit payable on the Normal Form based on the purchase rates available under such Group Contract. This is a variable standard of actuarial equivalence which precludes employer discretion except as provided in the AMENDMENTS SECTION of Article IX. On and after March 1, 1992, these applicable rates will be determined using the rates of interest and mortality (weighted .65 male and .35 female) used (as of the Annuity Starting Date) by the Pension Benefit Guaranty Corporation for a trusteed single - employer plan to value a benefit upon termination of an insufficient trusteed single - employer plan. In the event the basis 'we for determining Actuarial Equivalent is changed, Actuarial Equivalent of the Participant's Accrued Benefit on and after the date of the change shall be determined as the greater of (a) the Actuarial Equivalent of ARTICLE I 6 (59448) L�1 I the Accrued Benefit as of the date of the change computed on the old basis, or (b) the Actuarial Equivalent of the total Accrued Benefit computed on the new basis. 'too ANNUITY STARTING DATE means, for a Participant, the first day of the first period for which an amount is paid as an annuity or any other form. AVERAGE COMPENSATION means, on any given date, the average of an Employee's Monthly Compensation for those ten latest Compensation Years (all Compensation Years, if less than ten) before the earlier of such given date, or his Normal Retirement Date. In computing Average Compensation on any given date before the first Yearly Date in 1994, the Plan will include only Compensation Years ending before such given date. In computing Average Compensation on any given date on or after the first Yearly Date in 1994, the Plan will exclude Compensation Years in which the Employee terminates employment with the Employer. BENEFICIARY means the person or persons named by a Participant to receive any benefits under this Plan upon the Participant's death. See the BENEFICIARY SECTION of Article IX. CODE means the Internal Revenue Code of 1986, as amended. COMPENSATION means, except as modified in this definition, the total earnings paid or made available to an Employee by the Employer during any specified period. "Earnings" in this definition means all wages as reported in the wages, tips and other compensation box Now on form W -2 for Federal income tax withholding purposes, as defined under Code Section 3401 (a) (for purposes of income tax withholding at the source), disregarding any rules limiting the remuneration included as wages based on the nature or location of the employment or the services performed. Earnings also include all other payments to an Employee in the course of the Employer's trade or business, for which the Employer must furnish the Employee a written statement under Code Sections 6041 (d) and 6051(a)(3). Compensation shall also include elective contributions. Elective contributions are amounts excludable from the Employee's gross income under code Sections 125, 402(a)(8), 402(h) or 403(b), and contributed by the Employer, at the Employee's election, to a Code Section 401(k) arrangement, a simplified employee pension, cafeteria plan or tax - sheltered annuity. Elective contributions also include Compensation deferred under a Code Section 457 plan maintained by the Employer and Employee contributions "picked up" by a governmental entity and, pursuant to Code Section 414(h)(2), treated as Employer contributions. COMPENSATION YEAR means a one -year period ending on June 30. Before the first Yearly Date in 1994, Compensation Year means a one -year period ending on the June 30 immediately before an Employee's Entry Date and ending on the same date of each following year on which he is an Active Participant. CONTINGENT ANNUITANT means an individual named by the Participant to receive a lifetime benefit after the Participant's death according to a survivorship life annuity form of distribution. %iv CONTINUOUS SERVICE means, for a Participant, any period of uninterrupted service with the Employer. ARTICLE I 7 (59448) D2IN [� For purposes of this definition, no interruption in service will occur because of approved periods of absence from the Employer due to temporary lay -off; leave of absence (not to exceed one year), or a temporary absence due to illness or injury. 'fi CONTRIBUTIONS means Employer Contributions Required Contributions State Contributions Other Contributions as set out in Article III, unless the context clearly indicates otherwise. DIRECT ROLLOVER means a payment by the Plan to the Eligible Retirement Plan specified by the Distributee. DISTRIBUTEE means an Employee or former Employee. In addition, the Employee's or former Employee's surviving spouse and the Employee's or former Employee's spouse or former spouse who is the alternative payee under a qualified domestic relations order, as defined in Code Section 414(p), are Distributees with regard to the interest of the spouse or former spouse. EARLY RETIREMENT DATE means the first day of any month before a Participant's Normal Retirement Date which the Participant selects for the start of his retirement benefit. This day shall be on or after the date on which he ceases to be an Employee and the date he meets the following requirement(s): lausie (a) He has attained age 50. (b) He has completed five years of Plan Participation. ELIGIBLE EMPLOYEE means any Employee of the Employer who is a police officer. ELIGIBLE RETIREMENT PLAN means an individual retirement account described in Code Section 408(a), an individual retirement annuity described in Code Section 408(b), an annuity plan described in Code Section 403(a) or a qualified trust described in Code Section 401(a), that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity. ELIGIBLE ROLLOVER DISTRIBUTION means any distribution of all or any portion of the balance to the credit of the Distributee, except that an Eligible Rollover Distribution does not include: (a) Any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the Distributee or the joint lives (or joint life expectancies) of the Distributee and the Distributee's designated Beneficiary, or for a specified Noar' period of ten years or more. (b) Any distribution to the extent such distribution is required under Code Section 401 (a)(9). ARTICLE I 8 (59448) Ti� e r g l (c) The portion of any distribution that is not includible in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities). ' EMPLOYEE means an individual who is employed by the Employer. EMPLOYER means the Primary Employer. EMPLOYER CONTRIBUTIONS means contributions made by the Employer to fund this Plan. See the EMPLOYER CONTRIBUTIONS SECTION of Article III. ENTRY DATE means the date an Employee first enters the Plan as an Active Participant. See the ACTIVE PARTICIPANT SECTION of Article II. FISCAL YEAR means the Primary Employer's accounting year. The last day of the Fiscal Year is September 30. FUND means the Trust Fund established herein as part of the Plan. GROUP CONTRACT means the group annuity contract or contracts into which the City of Edgewater Police Retirement Plan Board of Trustees enters with the Insurer for the investment of Contributions and the payment of benefits under this Plan. The term Group Contract as it is used in this Plan is deemed to include the plural unless the context clearly indicates otherwise. INACTIVE PARTICIPANT means a former Active Participant who has an Accrued Benefit. See the err► INACTIVE PARTICIPANT SECTION of Article II. INSURER means Principal Mutual Life Insurance Company and any other insurance company or companies named by the Board of Trustees. INVESTMENT MANAGER means any fiduciary (other than a trustee) (a) who has the power to manage, acquire, or dispose of any assets of the Plan; and (b) who (1) is registered as an investment adviser under the Investment Advisers Act of 1940, or (2) is a bank, as defined in the Investment Advisers Act of 1940, or (3) is an insurance company qualified to perform services described in subparagraph (a) above under the laws of more than one state. LATE RETIREMENT DATE means the first day of any month which is after a Participant's Normal Retirement Date and on which retirement benefits begin. If a Participant continues to work for the Employer after his Normal Retirement Date, his Late Retirement Date shall be the earliest first day of the month on or after he ceases to be an Employee. See the WHEN BENEFITS START SECTION of Article VI. MONTHLY COMPENSATION means, for any Compensation Year, 1 /12th of an Employee's Compensation for such year. %sr To determine Monthly Compensation if an Employee is an Employee for only part of a Compensation Year, his Compensation for that Compensation Year shall be converted to an annual basis as though he were employed for the full Compensation Year. ARTICLE I 9 (59448) MG3Ni1 MONTHLY DATE means each Yearly Date and the same day of each following month during the Plan Year beginning on such Yearly Date. NORMAL FORM means a straight life annuity. NORMAL RETIREMENT DATE means the earliest first day of the month on or after the date the Participant reaches the earlier of (i) age 55 and the date he completes 5 years of service with the Employer, or (ii) the date he completes 25 years of service with the Employer. Unless otherwise provided in this Plan, a Participant's retirement benefits shall begin on his Normal Retirement Date if he has ceased to be an Employee on such date. See the WHEN BENEFITS START SECTION of Article VI. OTHER CONTRIBUTIONS means contributions from persons or entities other than the State of Florida, City of Edgewater, or Plan Participants. PARTICIPANT means either an Active Participant or an Inactive Participant. PARTICIPANT CONTRIBUTIONS means Required Contributions as set out in Article III. PERIOD OF MILITARY DUTY means, for an Employee (a) who served as a member of the armed forces of the United States, and (b) who was reemployed by the Employer at a time when the Employee had a right to reemployment in accordance with seniority rights as protected under Section 2021 through 2026 of Title 38 of `` the U.S. Code, the period of time from the date the Employee was first absent from active work for the Employer because of such military duty to the date the Employee was reemployed. PLAN means the defined benefit retirement plan of the Employer set forth in this document, including any later amendments to it. PLAN ADMINISTRATOR means the person or persons who administer the Plan. The Plan Administrator is the City of Edgewater Police Retirement Plan Board of Trustees. See the BOARD OF TRUSTEES SECTION of Article VIII. PLAN PARTICIPATION means the period of time during which a Participant has been an Active Participant. PLAN YEAR means a period beginning on a Yearly Date and ending on the day before the next Yearly Date. PRESENT VALUE means the current value of a benefit payable on a specified form and on a specified date. The Present Value of any benefit under the terms of this Plan will be the actuarial equivalent of the benefit rte,, payable on the Normal Form. Actuarial equivalence shall be determined on the basis of the mortality rates specified in the definition of Actuarial Equivalent, and either the interest rate(s) specified in the definition of Actuarial Equivalent or the Code Section 417 interest rate(s), whichever produces the greater benefit. ARTICLE I 10 (59448) E.) Z1 In addition, the amount of any distribution under the terms of this Plan will be determined in accordance with the preceding paragraph. "— The two preceding paragraphs shall not apply to the extent they would cause the Plan to fail to satisfy the requirements of the BENEFIT LIMITATION SECTION of Article IV. The Code Section 417 interest rate(s) are: (a) the applicable interest rate if the Present Value of the benefit (using such rate(s)) is not in excess of $25,000; or (b) 120 percent of the applicable interest rate if the Present Value of the benefit exceeds $25,000 (as determined under (a) above). In no event shall the Present Value determined under this (b) be less than $25,000. The applicable interest rate is the interest rate(s) which would be used (as of the Annuity Starting Date) by the Pension Benefit Guaranty Corporation for a trusteed single - employer plan to value a benefit upon termination of an insufficient trusteed single - employer plan. Before March 1, 1992, Present Value is determined in accordance with the provisions of the Plan as in effect on September 30, 1989. PRIMARY EMPLOYER means City of Edgewater, Florida. *se QUALIFIED JOINT AND SURVIVOR FORM means, for a Participant who has a spouse, an immediate survivorship life annuity, where the survivorship percentage is 50% and the Contingent Annuitant is the Participant's spouse. If a Participant does not have a spouse, the Qualified Joint and Survivor Form means the Normal Form. This Qualified Joint and Survivor Form shall be at least the Actuarial Equivalent of any form of benefit offered under the Plan. QUALIFIED PRERETIREMENT SURVIVOR ANNUITY means a straight life annuity payable to the surviving spouse of a Participant who dies before his Annuity Starting Date. Benefits shall be determined as if the Participant had ceased to be an Employee on the date of his death (date he last ceased to be an Employee, if earlier) and survived to the date benefits become payable to the Spouse and retired on that date. The monthly benefit payable to the spouse shall be equal to the survivorship percentage of the retirement benefit that would have been payable to the Participant if his Retirement Date had occurred on the date benefits start to the spouse and he had retired under the Qualified Joint and Survivor Form. If the Participant elects a survivorship annuity (where the survivorship percentage is at least 50% and the Contingent Annuitant is the Participant's spouse) and which is at least the Actuarial Equivalent of the Qualified Joint and Survivor Form for purposes of determining the Qualified Preretirement Survivor Annuity. 'O. REENTRY DATE means the date a former Active Participant reenters the Plan. See the ACTIVE PARTICIPANT SECTION of Article II. • ARTICLE I 11 (59448) aFp 1 REQUIRED CONTRIBUTIONS means nondeductible contributions required from a Participant in order to participate in this Plan. See the REQUIRED CONTRIBUTIONS BY PARTICIPANTS SECTION of Article III. ,,. REQUIRED CONTRIBUTION ACCOUNT means, on any date, the total of a Participant's Required Contributions. A Participant's Required Contribution Account shall be reduced by the amount of any distribution of his Required Contribution Account. RETIREMENT DATE means the date a retirement benefit will begin and is a Participant's Early, Normal or Late Retirement Date, as the case may be. SOCIAL SECURITY RETIREMENT AGE means age 65 in the case of a Participant attaining age 62 before January 1, 2000 (i.e., born before January 1, 1938), age 66 for a Participant attaining age 62 after December 31, 1991, and before January 1, 2017 (i.e., born after December 31, 1937, but before January 1, 1955), and age 67 for a Participant attaining age 62 after December 31, 2016 (i.e., born after December 31, 1954). STATE CONTRIBUTIONS means the net proceeds of the one percent excise tax which may be imposed by the City of Edgewater, Florida upon certain casualty insurance companies on their gross receipts of premiums from holders of policies, which policies cover property within the corporate limits of the City of Edgewater, Florida. TEFRA means the Tax Equity and Fiscal Responsibility Act of 1982. TEFRA COMPLIANCE DATE means the date a plan is to comply with the provisions of TEFRA. The TEFRA Nitimpe Compliance Date as used in this Plan is, (a) for purposes of benefit limitations, Code Section 41 5, (1) if the plan was in effect on July 1, 1982, the first day of the first limitation year which begins after December 31, 1982, or (2) if the plan was not in effect on July 1, 1982, the first day of the first limitation year which ends after July 1, 1982. (b) for all other purposes, the first Yearly Date after December 31, 1983. TOTALLY AND PERMANENTLY DISABLED means a Participant is disabled, as a result of sickness or injury, to the extent that he is prevented from engaging in any substantial gainful activity, and is eligible for and receives a disability benefit under Title II of the Federal Social Security Act. VESTING PERCENTAGE means the percentage used to determine that portion of a Participant's Accrued Benefit resulting from Employer Contributions which is nonforfeitable (cannot be lost since it is vested). A Participant's Vesting Percentage is shown in the following schedule opposite the number of whole years of his Plan Participation. ARTICLE I 12 (59448) i r . • PLAN PARTICIPATION VESTING (whole years) PERCENTAGE Sur Less than 5 0 5 or more 100 However, the Vesting Percentage for a Participant who is an Employee on or after the earlier of (i) the date he reaches his Normal Retirement Date or (ii) the date he meets the requirement(s) for an Early Retirement Date, shall be 100% on such date. VOLUNTARY DISCONTINUANCE DATE means the date a Participant fails or refuses to make a Required Contribution. YEARLY DATE means February 1, 1978, and each following October 1. YEARS OF SERVICE means an Employee's Continuous Service disregarding any modifications which exclude service. ARTICLE I 13 (59448) • iii)LU fp ARTICLE II PARTICIPATION SECTION 2.01 -- ACTIVE PARTICIPANT. (a) An Employee shall first become an Active Participant (begin active participation in the Plan) on the earliest Monthly Date on or after October 1, 1989, on which he is an Eligible Employee and has met the eligibility requirements below. This date is his Entry Date. (1) He has been an Employee for three months. (2) He is age 18 or older. Each Employee who was an Active Participant under the Plan on September 30, 1989, shall continue to be an Active Participant if he is still an Eligible Employee on October 1, 1989, and his Entry Date will not change. (b) An Inactive Participant shall again become an Active Participant (resume active participation in the Plan) on the date he again becomes an Eligible Employee. This date is his Reentry Date. Upon again becoming an Active Participant, he shall cease to be an Inactive Participant. Now (c) A former Participant shall again become an Active Participant (resume active participation in the Plan) on the date he again becomes an Eligible Employee. This date is his Reentry Date. An Eligible Employee shall become an Active Participant on his Entry Date or Reentry Date (whichever applies) if he agrees to make Required Contributions. This agreement must be in writing and completed no later than thirty days after his Entry or Reentry Date. If he does not complete the agreement within the time allowed, he shall become an Active Participant as of the first following Monthly Date on which he is an Eligible Employee and has completed the written agreement to make these Contributions. This shall be his adjusted Entry Date (or adjusted Reentry Date, if it applies). There shall be no duplication of benefits for a Participant under this Plan because of more than one period as an Active Participant. SECTION 2.02 -- INACTIVE PARTICIPANT. An Active Participant shall become an Inactive Participant (stop accruing benefits under the Plan) on the earliest of the following: (a) The date on which he ceases to be an Eligible Employee (on his Retirement Date if he ceases to be Nov an Eligible Employee within one month of his Retirement Date). (b) The effective date of complete termination of the Plan. ARTICLE II 14 (59448) 't p J L L An Employee or former Employee who was an Inactive Participant under the Plan on September 30, 1989, shall continue to be an Inactive Participant on October 1, 1989. Eligibility for any benefits payable to him or on his behalf and the amount of the benefits shall be determined according to the provisions of the prior document, Nw.y unless otherwise stated in this Plan. SECTION 2.03 -- CESSATION OF PARTICIPATION. A Participant, whether active or inactive, shall cease to be a Participant on the earliest of the following: (a) The date of his death. (b) His Voluntary Discontinuance Date. (c) The date he receives a single sum distribution which is in lieu of all of his benefits under the Plan if his Vesting Percentage is 100 %. An Inactive Participant shall also cease to be a Participant on the earliest date on which he is not entitled to a deferred monthly income under the VESTED BENEFITS SECTION OF Article V. ler ARTICLE II 15 (59448) Ai J'I Jl ARTICLE III CONTRIBUTIONS SECTION 3.01 -- EMPLOYER CONTRIBUTIONS. The amount and time of Employer Contributions shall be determined based on actuarial valuations and applicable law as to the amounts required to fund benefits under this Plan. Dividends declared under the Group Contract and forfeitures shall be applied to reduce future Employer Contributions. A portion of the Plan assets resulting from Employer Contributions (but not more than the original amount of those Contributions) may be returned if the Employer Contributions are made because of a mistake of fact. The amount involved must be returned to the Employer within one year after the date the Employer Contributions are made by mistake of fact. Except as provided under this paragraph and in Articles VII, the assets of the Plan shall never be used for the benefit of the Employer and are held for the exclusive purpose of providing benefits to Participants and their Beneficiaries and for defraying reasonable expenses of administering the Plan. SECTION 3.01A -- REQUIRED CONTRIBUTIONS BY PARTICIPANTS. Each Active Participant shall make Required Contributions as of the date he enters the Plan. These Contributions shall be made for each pay period in which he is an Active Participant. 'ttr'' The amount of each Contribution will be equal to 1% of his Compensation for the pay period. A Participant shall not make Required Contributions during any period he is receiving disability payments under the DISABILITY BENEFITS SECTION of Article V or, on or after his Normal Retirement Date. The Participant's Required Contribution Account is fully (100 %) vested and nonforfeitable at all times. SECTION 3.01B--STATE CONTRIBUTIONS. Any monies received or receivable by reason of laws of the State of Florida, for the express purpose of funding and paying for retirement benefits for Police Officers of the City of Edgewater shall be deposited in the Fund comprising part of this Plan immediately and under no circumstances more than five (5) days after receipt by the City. SECTION 3.01C--OTHER CONTRIBUTIONS. Private donations, gifts and contributions may be deposited to the Fund, but such deposits must be accounted for separately and kept on a segregated bookkeeping basis. Funds arising from these sources may be used only for additional benefits for Participants, as determined by the Board and may not be used to reduce what would have otherwise been required City contribution. SECTION 3.02 -- INVESTMENT OF CONTRIBUTIONS. ARTICLE III 16 (59448) f �? jj�� Cr J A. As part of the Plan, there is hereby established the Fund, into which shall be deposited all of the contributions and assets whatsoever attributable to the Plan. ' B. The actual custody and supervision of the Fund (and assets thereof) shall be vested in the Board of Trustees. Payment of benefits and disbursements from the Fund shall be made by the disbursing agent but only upon written authorization from the Board. C. All funds and securities of the Plan may be deposited by the Board with the Finance Director of the City of Edgewater, acting in a ministerial capacity only, who shall be liable in the same manner and to the same extent as he is liable for the safekeeping of funds of the City. However, any funds and securities so deposited with the Finance Director of the City shall be clearly identified as such funds and securities of the Police Officer's Retirement Plan. D. In order to fulfill its investment responsibilities as set forth herein, the Board may retain the services of a custodian bank, an investment advisor registered under the Investment Advisors Act of 1940 or otherwise exempt from such required registration, an insurance company, or a combination of these, for the purposes of investment decisions and management. Such investment manager shall have discretion, subject to any guidelines as prescribed by the Board, in the investment of all Fund assets. E. All funds and securities of the Plan may be commingled in the Fund, provided that accurate records are maintained at all times reflecting the financial composition of the Fund, including accurate current accounts and entries as regards the following: 1. Current amounts of Accumulated Contributions of Participants on both an individual and aggregate account basis, and 2. Receipts and disbursements, and 3. Benefit payments, and 4. Current amounts clearly reflecting all monies, funds and assets whatsoever attributable to contributions and deposits from the City, and 5. All interest, dividends and gains (or losses) whatsoever, and 6. Such other entries as may be properly required so as to reflect a clear and complete financial report of the Fund. F. The Board shall be vested with full legal title to said Fund, subject however, and in any event to the authority and power of the City of Edgewater City Council to amend or terminate this Fund, provided that no amendment or Fund termination shall ever result in the use of any assets of this Fund except for the payment of regular expenses and benefits under this Plan, except as otherwise provided herein. All contributions from time to time paid into the Fund, and the income thereof, timor without distinction between principal and income, shall be held and administered by the Board or its agent in the Fund and the Board shall not be required to segregate or invest separately any portion of the Fund. ARTICLE III 17 (59448) • ] LT, J G. All monies paid into or held in the Fund shall be invested and reinvested by the Board in accordance with the Board's duly adopted Investment Policy, but the investment of all or any part of such funds shall be limited to: `fir 1. Annuity and life insurance contracts with life insurance companies in amounts sufficient to provide, in whole or in part, the benefits to which all of the Participants in the Fund shall be entitled under the provisions of this Plan and pay the initial and subsequent premium thereon. 2. Time or savings accounts of a national bank, a state bank or a savings /building and loan association insured by the Federal Deposit Insurance Corporation. 3. Obligations of the United States or obligations guaranteed as to principal and interest by the government of the United States. 4. Bonds issued by the State of Israel. 5. Bonds, stocks, commingled funds administered by National or State Banks or evidences of indebtedness issued or guaranteed by a corporation organized under the laws of the United States, any state or organized territory of the United States, or the District of Columbia, provided that the security of the corporation is traded on a nationally recognized exchange and holds a rating or ranking in one of the three highest classifications by a major rating service. 6. Real Estate. Near 7. The Board of Trustees shall not invest more than five (5) percent of its assets in the common stock or capital stock of any one issuing company, nor shall the aggregate investment in any one issuing company exceed five (5) percent of the outstanding capital stock of the company nor the aggregate of its investment under this subparagraph at cost exceed thirty (30) percent of the Fund's assets. H. The Board may retain in cash and keep unproductive of income such amount of the Fund as it may deem advisable, having regard for the cash requirements of the Plan. The Board may cause any investment in securities held by it to be registered in or transferred into its name as Trustee or into the name of such nominee as it may direct, or it may retain them unregistered and in a form permitting transferability, but the books and records shall at all times show that all investments are part of the fund. J. The Board is empowered to exercise any of the powers of an owner with respect to stocks, bonds, or other investments comprising the Fund which it may deem to be to the best interest of the Fund to exercise. K. The Board shall not be required to make any inventory or appraisal or report to any court, nor to secure any order of a court for the exercise of any power contained herein. ARTICLE III 18 (59448) ARTICLE IV „�, RETIREMENT BENEFITS SECTION 4.01 -- ACCRUED BENEFIT. An Active Participant's monthly Accrued Benefit as of any date, subject to the modifications below, will be equal to the product of (a) and (b) below: (a) An amount equal to 2% of his Average Compensation. (b) His Accrual Service on such date. Adjusted Accrued Benefit: An Active Participant's monthly Accrued Benefit shall be reduced by the amount of deferred monthly retirement benefit on the Normal Form beginning on his Normal Retirement Date in lieu of which he has received a single sum payment under the Plan or prior plan. SECTION 4.02 -- BENEFIT LIMITATION. (a) To determine the benefit limitation set forth in this section, the following terms are defined: Now Aggregate Annual Addition means, for a Participant with respect to any Limitation Year, the sum of his Annual Additions under all defined contribution plans of the Employer, as defined in this section. The nondeductible participant contributions which the Participant makes to a defined benefit plan shall be treated as Annual Additions to a defined contribution plan. The Contributions the Employer, as defined in this section, made for the Participant for a Plan Year beginning on or after March 31, 1984, to an individual medical benefit account, as defined in Code Section 415(1)(2), under a pension or annuity plan of the Employer, as defined in this section, shall be treated as Annual Additions to a defined contribution plan. Also, amounts derived from contributions paid or accrued after December 31, 1985, in Fiscal Years ending after such date, which are attributable to post- retirement medical benefits allocated to the separate account of a key employee, as defined in Code Section 419A(d)(3), under a welfare benefit fund, as defined in Code Section 419(e), maintained by the Employer, as defined in this section, are treated as Annual Additions to a defined contribution plan. The 25% of Compensation limit under Annual Addition does not apply to Annual Additions resulting from contributions made to an individual medical account, as defined in Code Section 415(I)(2), or to Annual Additions resulting from contributions for medical benefits, within the meaning of Code Section 419A, after separation from service. Annual Addition means the amount added to a Participant's account for any Limitation Year under this Plan or another retirement plan maintained by the Employer, as defined in this section, which may not exceed a maximum permissible amount of the lesser of (1) or (2) below: ARTICLE IV 19 (59448) L L B , Lit (1) The greater of $30,000 or one - fourth of the maximum dollar limitation which applies to defined benefit plans. (Before the TEFRA Compliance Date, $25,000 multiplied by the cost of living adjustment factor permitted by Federal regulations.) Ntee (2) 25% of his Compensation, as defined in this section, for such Limitation Year. The amount in (1) above shall not be adjusted before January 1, 1988. The Annual Addition under any plan for a Participant with respect to any Limitation Year, shall be equal to the sum of (3) and (4) below: (3) Employer contributions and forfeitures credited to his account for the Limitation Year. (4) Participant contributions made by him for the Limitation Year. Before the first Limitation Year beginning after December 31, 1986, the amount under (4) above is the lesser of (i) 1/2 of his nondeductible participant contributions made for the Limitation Year, or (ii) the amount, if any, of his nondeductible participant contributions made for the Limitation Year which is in excess of six percent of his Compensation, as defined in this section, for such Limitation Year. Annual Benefit means a retirement benefit under the Plan payable annually in the form of a straight life annuity or a survivor annuity. Except as provided below, a Participant's benefit that is payable in a form other than a straight life annuity shall be adjusted to the Actuarial Equivalent straight life annuity before applying the limitations of this section. The interest rate assumption used to determine the Actuarial Equivalent shall not be less than five percent. Compensation means compensation as defined in Article I. For purposes of applying the limitations of this section, Compensation for a Limitation Year is the Compensation actually paid or made available during such Limitation Year. Current Accrued Benefit means a Participant's Accrued Benefit under the Plan, determined as if the Participant had separated from service as of the close of the last Limitation Year beginning before January 1, 1987, when expressed as an annual benefit within the meaning of Code Section 415(b)(2). In determining the amount of a Participant's Current Accrued Benefit, the following shall be disregarded: (1) any change in the terms and conditions of the plan after May 5, 1986; and (2) any cost of living adjustments occurring after May 5, 1986. Defined Benefit Dollar Limitation means $90,000 (before the TEFRA Compliance Date, $75,000 adjusted by the cost of living adjustment factor permitted by Federal regulations). Effective on January 1, 1988, and each January 1 thereafter, the $90,000 limitation above will be automatically ' adjusted by multiplying such limit by the cost of living adjustment factor prescribed by the Secretary of the Treasury under Code Section 415(d) in such manner as the Secretary shall prescribe. The ARTICLE IV 20 (59448) r1" r new limitation shall apply to Limitation Years ending within the calendar year of the date of the adjustment. N,.. Defined Benefit Plan Fraction means, for a Participant with respect to a Limitation Year, the quotient, expressed as a decimal, of (1) the Participant's Projected Annual Benefit as of the close of such Limitation Year under all defined benefit plans ever maintained by the Employer, as defined in this section, divided by (2) on and after the TEFRA Compliance Date, the lesser of (i) or (ii) below: (i) 1 .25 multiplied by the dollar limitation determined for the Limitation Year under Code Sections 415(b) and (d) and in accordance with (3) in the definition of Maximum Permissible Amount, or (ii) 1 .4 multiplied by the Participant's Highest Average Compensation, including any adjustments under Code Section 415(b). Before the TEFRA Compliance Date this denominator is the Participant's Projected Annual Benefit as of the close of the Limitation Year if the plan(s) provided the maximum benefit allowable. The Defined Benefit Plan Fraction shall be modified as follows: low If the Participant was a participant as of the first day of the first Limitation Year beginning after December 31, 1986, in one or more defined benefit plans maintained by the Employer, as defined in this section, which were in existence on May 6, 1986, the denominator of this fraction will not be less than 125 percent of the sum of the Annual Benefit and the annual benefits from such plan(s) which the Participant had accrued as of the close of the last Limitation Year beginning before January 1, 1987, disregarding any changes in the terms and conditions of the plans after May 5, 1986. The preceding sentence applies only if the defined benefit plans individually and in the aggregate satisfied the requirements of Code Section 415 for all limitation years beginning before January 1, 1987. Defined Contribution Plan Fraction means, with respect to a Limitation Year for a Participant who is or has been a participant in a defined contribution plan ever maintained by the Employer, as defined in this section, the quotient, expressed as a decimal, of (1) the Participant's Aggregate Annual Additions for such Limitation Year and all prior Limitation Years, under all defined contribution plans (including the Aggregate Annual Additions attributable to nondeductible accounts under defined benefit plans and attributable to all welfare benefit funds, as defined in Code Section 419(e)) and attributable to individual medical accounts, as defined in Code Section 415(1)(2) ever maintained by the Employer, as defined in this section, divided by (2) on and after the TEFRA Compliance Date, the sum of the amount determined for the Limitation Year under (i) or (ii) below, whichever is less, and the amounts determined in the ARTICLE IV 21 (59448) • ri same manner for all prior Limitation Years during which he has been an Employee or an employee of a predecessor employer: N (i) 1.25 multiplied by the greater of $30,000 or one - fourth of the maximum dollar limitation which applies for defined benefit plans determined under Code Sections 415(b) and (d), or (ii) 1 .4 multiplied by 25% of the Participant's Compensation, as defined in this section, for each such Limitation Year. Before the TEFRA Compliance Date, this denominator is the sum of the maximum allowable amount of Annual Addition to his account(s) under all the plan(s) of the Employer, as defined in this section, for each such Limitation Year. The Defined Contribution Plan Fraction shall be modified as follows: If the Participant was a participant as of the first day of the first Limitation Year beginning after December 31, 1986, in one or more defined contribution plans maintained by the Employer, as defined in this section, which were in existence on May 6, 1986, the numerator of this fraction shall be adjusted if the sum of the Defined Contribution Plan Fraction and Defined Benefit Plan Fraction would otherwise exceed 1 .0 under the terms of this Plan. Under the adjustment, the dollar amount determined below shall be permanently subtracted from the numerator of this fraction. The dollar amount is equal to the excess of the sum of the two fractions, before adjustment, over 1.0 multiplied by the denominator of his Defined Contribution Plan Fraction. The adjustment is calculated using his Defined Contribution Plan Fraction and Defined Benefit Plan Fraction as they would be computed as of the end of the last Limitation Year beginning before January 1, 1987, and disregarding any changes in the terms and conditions of the plans made after May 5, 1986, but using the Code Section 415 limitation applicable to the first Limitation Year beginning on and after January 1, 1987. The annual addition for any Limitation Year beginning before January 1, 1987, shall not be recomputed to treat all employee contributions as Annual Additions. For a plan that was in existence on July 1, 1982, for purposes of determining the Defined Contribution Plan Fraction for any Limitation Year ending after December 31, 1982, the Plan Administrator may elect in accordance with the provisions of Code Section 415 that the denominator for each Participant, for all Limitation Years ending before January 1, 1983, will be equal to (1) the Defined Contribution Plan Fraction denominator which would apply for the last Limitation Year ending in 1982 if an election under this paragraph were not made, multiplied by (2) a fraction, equal to (i) over (ii) below: (i) the lesser of (A) $51,875, or (B) 1.4, multiplied by 25% of the Participant's Compensation, as defined in this section, for the Limitation Year ending in 1981; ARTICLE IV 22 (59448) [ .J J (11) the lesser of (A) $41,500, or (B) 25% of the Participant's Compensation, as defined in this section, for the Limitation Year ending in 1981. .`, The election described above is applicable only if the plan administrators under all defined contribution plans of the Employer also elect to use the modified fraction. Employer means any employer that adopts this Plan. Highest Average Compensation means 100% of the average of a Participant's Compensation, as defined in this section, during those three consecutive Limitation Years while he was an Employee, if employed less than three years) which give the highest average. Limitation Year means the consecutive 12 -month period within which it is determined whether or not the limitations of Code Section 415 are exceeded. Limitation Year means each 12- consecutive month period ending on June 30. If the Limitation Year is other than the calendar year, execution of this Plan (or any amendment to this Plan changing the Limitation Year) constitutes the Employer's adoption of written resolution electing the Limitation Year. If the Limitation Year is changed, the new Limitation Year shall begin within the current Limitation Year. Maximum Permissible Amount means, for a Participant with respect to any Limitation Year, the lesser of (1) the Defined Benefit Dollar Limitation, or +rr (2) his Highest Average Compensation for such Limitation Year. The Maximum Permissible Amount shall be adjusted as follows: (3) If the Participant has less than ten Years of Participation, the Defined Benefit Dollar Limitation is reduced by one -tenth for each Year of Participation (or part thereof) less than ten. If the Participant has less than ten Years of Service, the compensation limitation is reduced by one -tenth for each Year of Service (or part thereof) less than ten. The adjustments of this (3) shall be applied in the denominator of the Defined Benefit Plan Fraction based on Years of Service. Years of Service shall include future years occurring before the Participant's Normal Retirement Age. Such future years shall include the year which contains the date the Participant reaches Normal Retirement Age, only if it can be reasonably anticipated that the Participant will receive a Year of Service for such year. (4) If the Annual Benefit of the Participant commences before the Participant's Social Security Retirement Age, but on or after age 62, the Defined Benefit Dollar Limitation as reduced above, shall be determined as follows: (i) If a Participant's Social Security Retirement Age is 65, the dollar limitation for benefits commencing on or after age 62 is determined by reducing the Defined Benefit Dollar Limitation by 5/9 of one percent for each month by which benefits commence before "ors" the month in which the Participant attains age 65. ARTICLE IV 23 (59448) (ii) If a Participant's Social Security Retirement Age is greater than 65, the dollar limitation for benefits commencing on or after age 62 is determined by reducing the Defined Benefit Dollar Limitation by 5/9 of one percent for each of the first 36 months and Now 5/12 of one percent for each of the additional months (up to 24 months) by which benefits commence before the month of the Participant's Social Security Retirement Age. (5) If the Annual Benefit of a Participant commences prior to age 62, the Defined Benefit Dollar Limitation shall be the actuarial equivalent of an Annual Benefit beginning at age 62, as determined above, reduced for each month by which benefits commence before the month in which the Participant attains age 62. To determine actuarial equivalence, the interest rate assumption is five percent. Any decrease in the defined benefit Dollar Limitation determined in accordance with this provision (5) shall not reflect the mortality decrement to the extent that benefits will not be forfeited upon the death of the Participant. (6) If the Annual Benefit of a Participant commences after the Participant's Social Security Retirement Age, the Defined Benefit Dollar Limitation as reduced in (3) above, if necessary, shall be adjusted so that it is the actuarial equivalent of an Annual Benefit of such dollar limitation beginning at the Participant's Social Security Retirement Age. To determine actuarial equivalence, the interest rate assumption used is five percent. (7) The provisions of this definition shall be modified as provided in: (i) Code Section 415(b)(2)(F) for governmental plans (within the meaning of Section 414(d)), plans maintained by organizations (other than governmental units) exempt from tax under Subtitle A of the Code, and qualified merchant marine plans; and (ii) Section 415(b)(2)(G) and 415(b)(2)(H) of the Code for Plan Participants who are qualified police or firefighters; and (iii) Code Section 415(b)(9) for Plan Participants who are commercial airline pilots. Projected Annual Benefit means a Participant's expected Annual Benefit under any defined benefit plan(s) ever maintained by the Employer, as defined in this section. The Projected Annual Benefit shall be determined assuming that the Participant will continue employment until the later of current age or normal retirement age under such plan(s), and that the Participant's compensation for the Limitation Year and all other relevant factors used to determine benefits under such plan(s) will remain constant for all future Limitation Years. Year of Participation means one year (computed to fractional parts of a year) for each Plan Year for which the following conditions are met: (1) The Participant earns Credited Service for benefit accrual purposes, and (2) the Participant is included as a Participant under the eligibility provisions of the Plan for at r least one day of the Plan Year. ARTICLE IV 24 (59448) If these two conditions are met, the portion of a Year of Participation credited to the Participant shall equal the amount of Accrual Service credited to the Participant for such Plan Year. A Participant who is totally and permanently disabled within the meaning of Code Section w— 415(c)(3)(C)(i) for a Plan Year shall receive a Year of Participation with respect to that period. In addition, for a Participant to receive a Year of Participation (or part thereof) for a Plan Year, the Plan must be established no later than the last day of such Plan Year. In no event will more than one Year of Participation be credited for any 12 -month period. (b) The Annual Benefit otherwise payable to a Participant at any time will not exceed the Maximum Permissible Amount. If the benefit a Participant would otherwise accrue in a Limitation Year would produce an Annual Benefit in excess of the limits above, the rate of accrual will be reduced so that the Annual Benefit equals those limits. (c) If a Participant is, or has ever been, covered under more than one defined benefit plan maintained by the Employer, as defined in this section, the sum of the Participant's Annual Benefit and the annual benefit(s) from such other plan(s) shall not exceed the Maximum Permissible Amount. If such plans do not otherwise limit the annual benefits, the rate of accrual in the plan most recently established shall be reduced to the extent necessary so that the total of the annual benefits payable at any time under such plan(s) does not exceed the Maximum Permissible Amount. In the case of an individual who was a participant in one or more defined benefit plans of the Employer, as defined in this section, as of the first day of the first limitation year beginning after `- December 31, 1986, the application of the limitations of this section shall not cause the Maximum Permissible Amount for such individual under all such defined benefit plans to be less than the individual's Current Accrued Benefit. The preceding sentence applies only if such defined benefit plans met the requirements of Code Section 41 5, for all limitation years beginning before January 1, 1987. If some of the Employer's defined benefit plans were not in existence on July 1, 1982, and some were in existence on -that date, the Maximum Permissible Amount which is based on a dollar amount may differ for a Limitation Year. The sum of the Participant's Annual Benefits from all such plans for the Limitation Year in which the dollar limit differs shall not exceed the lesser of (1) his Highest Average Compensation, (2) $136,425, or (3) the greater of $90,000 or the sum of the annual benefit(s) for such Limitation Year under the plan(s) to which the $136,425 dollar amount applies. (d) The limitations imposed by subsections (b) and (c) above shall not apply if, for the current or any prior Limitation Year, the sum of the Annual Benefit payable to a Participant under this Plan and the annual benefit(s) under all other defined benefit plans ever maintained by the Employer, as defined in this section, does not exceed the product of (1) and (2) below: (1) $1,000. (2) The Participant's Years of Service or parts thereof (not to exceed ten years). ARTICLE IV 25 (59448) The provisions of this subsection (d) do not apply if the Employer, as defined in this section, ever maintained a defined contribution plan (other than nondeductible employee contributions under a defined benefit plan), a welfare benefit plan as defined in Code Section 419(e), or an individual r medical account as defined in Code Section 415(1)(2) in which the Participant participated. (e) If a Participant is or has been a participant in both defined benefit and defined contribution plans (including a welfare benefit fund, as defined in Code Section 419(e)), or an individual medical account, as defined in Code Section 415(I)(2), ever maintained by the Employer, as defined in this section, the sum of the Defined Benefit Plan Fraction and the Defined Contribution Plan Fraction for any Limitation Year shall not exceed 1.0 (1.4 before the TEFRA Compliance Date). After all other limitations set out in the plans and funds have been applied, the following limitations shall apply so that the sum of the Participant's Defined Benefit Plan Fraction and Defined Contribution Plan Fraction shall not exceed 1.0 (1.4 before the TEFRA Compliance Date). The Projected Annual Benefit shall be limited first. If the Participant's annual benefit(s) equal his Projected Annual Benefit, as limited, then Annual Additions to the defined contribution plan(s) shall be limited to amounts that will reduce the sum to 1 .0 (1 .4). First, the voluntary contributions the Participant may make for the Limitation Year shall be limited. Next, in the case of a profit sharing plan, any forfeitures allocated to the Participant shall be reallocated to remaining participants to the extent necessary to reduce the decimal to 1.0 (1.4). Last, to the extent necessary, employer contributions shall be reallocated or limited for the Limitation Year. If employer contributions are reallocated or limited, then required and optional employee contributions to which such employer contributions were geared shall be reduced in proportion. New If, for the Limitation Year, the Participant has an Annual Addition under more than one defined contribution plan or welfare benefit fund or individual medical account maintained by the Employer, as defined in this section, and such plans and welfare benefit funds and individual medical accounts do not limit the aggregate Annual Addition to the maximum permissible amount, any reduction above shall be made first to the profit sharing plans, then to all other such plans and welfare benefit funds and individual medical accounts and, if necessary, by reducing first those that were most recently allocated. However, elective deferral contributions shall be the last contributions reduced before the welfare benefit fund or individual medical account is reduced. The annual addition to the welfare benefit fund and individual medical accounts shall be limited last. (f) If a Participant's annual amount of retirement benefit is reduced because he received an earlier distribution under the Plan which is derived from Employer Contributions, his benefit limitation on the date the benefit is payable shall be reduced by the excess of (1) over (2) below: (1) The Annual Benefit that would have been payable if he had not received an earlier distribution provided by Employer Contributions. (2) The reduced Annual Benefit payable. (g) If, for the Limitation Year, a Participant has an Annual Addition, the Participant's Aggregate Annual Addition may not exceed the maximum permissible amount. "V Contributions and forfeitures which would otherwise be credited to the Participant's accounts shall be limited to the extent necessary to meet the maximum permissible amount of Aggregate Annual ARTICLE IV 26 (59448) n r? L' 11 Addition. Any nondeductible voluntary contributions under this Plan and any other retirement plans shall be limited first. Next, contributions and forfeitures under the other retirement plan(s) shall be limited or reduced according to the provisions of such plan(s). If, due to (i) an error in estimating the Participant's Compensation as defined in this section, (ii) because forfeitures cannot be reallocated to remaining participants due to the contribution limitations under such plan(s), (iii) because the amount of the forfeitures to be used to offset employer contributions under such plan(s) is greater than the amount of the employer contributions due for the remaining participants, or (iv) other limited facts or circumstances, a Participant's Aggregate Annual Addition is greater than the maximum permissible amount, such excess amount shall be applied as follows. Nondeductible voluntary contributions will be returned to the Participant. If after the return of nondeductible voluntary contributions an excess amount still exists, and the Participant is an active participant under the other plan(s) as of the end of the Limitation Year, the excess amount shall be used to offset employer contributions under such plan(s) for him in the next Limitation Year. If after the return of nondeductible voluntary contributions an excess amount still exists, and the Participant is not an active participant under the other plan(s) as of the end of the Limitation Year, the excess amount will be held in a suspense account under the other retirement plans which will be used to offset employer contributions for all participants in the next Limitation Year. No employer contributions or participant contributions that would be included in the next Limitation Year's Annual Addition may be made before the total suspense account has been used or reallocated. SECTION 4.03 -- AMOUNT OF BENEFIT AT RETIREMENT. 'r The amount of retirement benefit to be provided on the Normal Form for an Active Participant on his Retirement Date shall be determined according to the provisions of this section. The monthly retirement benefit shall not decrease after the Participant's Retirement Date due to any increase in social security benefits that occurs after he ceases to be an Employee. An Active Participant's retirement benefit on his Normal Retirement Date shall be equal to his Accrued Benefit on such date. An Active Participant's retirement benefit on his Early Retirement Date shall be equal to his Accrued Benefit on such specified date, multiplied by the factor shown below corresponding to the number of years his Early Retirement Date precedes his Normal Retirement Date. NUMBER OF YEARS EARLY RETIREMENT DATE PRECEDES NORMAL RETIREMENT DATE FACTOR 1 .9333 2 .8667 3 .8000 4 .7333 Nlior 5 .6667 ARTICLE IV 27 (59448) ` � l CIA j NUMBER OF YEARS EARLY RETIREMENT DATE PRECEDES NORMAL "t'" RETIREMENT DATE FACTOR 6 .6333 7 .6000 8 .5667 9 .5333 10 .5000 The above factors shall be prorated for a partial year (counting a partial month as a complete month). An Active Participant's retirement benefit on his Late Retirement Date shall be equal to the greater of (a) or (b) below: (a) His Accrued Benefit on his Late Retirement Date. (b) His Accrued Benefit on his Normal Retirement Date, multiplied by the factor shown below corresponding to the number of years his Late Retirement Date follows his Normal Retirement Date. NUMBER OF YEARS LATE RETIREMENT DATE '4441, FOLLOWS NORMAL RETIREMENT DATE FACTOR 1 1.0600 2 1.1200 3 1.1900 4 1.2600 5 1.3400 6 1.4200 7 1.5000 8 1.5900 9 1.6900 10 1.7900 The above factors shall be prorated for a partial year (counting a partial month as a complete month). Factors for numbers of years beyond ten shall be determined using a consistently applied reasonable actuarially equivalent method. An Active Participant's retirement benefit on the Normal Form shall not be less than the greatest amount of benefit that would have been provided for him had he retired on any earlier Retirement Date. Nr► In any event, an Active Participant's retirement benefit on the Normal Form on his Retirement Date will not be less than the monthly benefit on the Normal Form which is the Actuarial Equivalent of his Required Contribution Account on such date. ARTICLE IV 28 (59448) [1] The Participant's retirement benefits shall be distributed to the Participant according to the distribution of benefits provisions of Article VI and the small amounts provision of the SMALL AMOUNTS SECTION of Article IX. The amount of payment under any form (other than the Normal Form) shall be determined as provided under the OPTIONAL FORMS OF DISTRIBUTION AND DISTRIBUTION REQUIREMENTS SECTION of Article VI. SECTION 4.04 -- TEMPORARY LIMITATION OF BENEFITS. (a) For Plan Years beginning before January 1, 1994, the limitations set forth in this (a) apply. (1) The amount of Employer Contributions used to provide a Participant's retirement benefit on the Normal Form shall be limited as provided in (2) below if the Participant is one of the Employer's 25 most highly paid Employees on the original effective date of the Plan, the retirement benefit is over $125 ($1,500 annually), and one of the following conditions occurs: (i) The Plan is terminated within ten years of the effective date of the Plan. (ii) The monthly retirement benefit of such highly paid Participant becomes payable within ten years of the effective date of the Plan, or (iii) If Code Section 412 (without regard to Code Section 412(h)(2)) does not apply to this Plan, the monthly retirement benefit of such highly paid Participant becomes payable more than ten years after the effective date of the Plan, and the full current costs of the Plan for the first ten years have not been met. ``► (2) If one of the conditions in (1) above does occur, the amount of Employer Contributions used to provide retirement benefit on the Normal Form for such a highly paid Participant shall not exceed the amount provided by the greater of (i) or (ii) below: (i) $20,000. (ii) 20% of the first $50,000 of the average of his annual compensation for the five latest Compensation Years multiplied by the number of years between the effective date of the Plan and the earlier of (A) the date the benefit becomes payable, or (B) the date the Plan terminates. If on the earlier of (A) or (B) the full current costs have not been met, then the date on which the full current costs have not been met shall be substituted for such earlier date. (3) If the Plan is amended to increase the retirement benefit on the Normal Form provided by Employer Contributions, the amount of such Contributions used to provide that benefit may be limited. Such amount shall be limited if the Participant is one of the Employer's 25 most highly paid Employees on the effective date of the amendment and the retirement benefit provided by Employer Contributions made before the effective date of the amendment and during the following ten years (assuming his rate of pay remains unchanged) is over $125 ($1,500 annually). Now The provisions of (1) and (2) above shall continue to apply to the original group of Participants who are highly paid Employees as if the Plan had not been amended. The • ARTICLE IV 29 (59448) D amount of Employer Contributions which may be used for the benefit of the new group of Participants who are highly paid Employees shall be limited as provided in (2) above, except that, in lieu of (2)(i) and (ii), the following (i) and (ii) shall be substituted: (i) The amount of Employer Contributions which would have been applied to provide benefits for the Participant if the Plan had continued without change or $20,000, if greater. (ii) The sum of (A) the amount of Employer Contributions which would have been applied to provide benefits for the Participant if the Plan had terminated on the day before the effective date of the amendment, and (B) the product of the number of years for which the current costs of the Plan after the effective date of the amendment are met multiplied by the lesser of (a) 20 percent of the average of his annual pay for the five latest Compensation Years, or (b) $10,000. (4) The limitations described above may be exceeded for the purpose of making current monthly retirement benefit payments to retired Participants who would otherwise be subject to such limitations. The limitations may be exceeded only if all of the following conditions are met: (i) The Employer Contributions which may be used for such retired Participant according to the preceding provisions of this section are applied to provide either a level amount of monthly retirement benefit on the Normal Form or a level amount of monthly retirement benefit on an optional form of retirement benefit not greater in amount than the amount of monthly benefit on the Normal Form. (ii) The monthly retirement benefit provided is supplemented by monthly payments to the extent necessary to provide the full monthly retirement benefit on the Normal Form. (iii) The full current costs of the Plan have been met or the total of such supplemental payments for all such retired Participants does not exceed the total Employer Contributions already made under the Plan in the year then current. A highly paid Participant may receive a single sum distribution only if he enters into an agreement to repay to the Plan all amounts he receives in excess of the limitations of this section. The requirement of repayment shall apply if the Plan terminates, if the full current costs of the Plan are not met during a period when the limitations of this section are in effect, or benefits are paid when the Plan is less than ten years old. In order to guarantee the repayment, the Participant must deposit the amount which would be repayable in a guaranteed account or with an acceptable depository property having a fair market value equal to 125 percent of the amount which would be repayable had the Plan terminated on the date of the single sum distribution. If the market value of the property held by the depository falls below 110 percent of the amount which would be repayable if the Plan were then to terminate, additional property necessary to bring the value of the property held by the depository up to 125 percent of such amount will be deposited. (b) For Plan Years beginning on or after January 1, 1994, the limitations set forth in this (b) apply. In the event of Plan termination, the benefit of any active or former Highly Compensated Employee is limited to a benefit that is nondiscriminatory under Code Section 401 (a)(4). ARTICLE Iv 30 (59448) • For Plan Years beginning on or after January 1, 1999, benefits distributed to any of the 25 most highly compensated active and former Highly Compensated Employees are restricted such that the annual payments are no greater than an amount equal to the payment that would be made on behalf of the Employee under a single life annuity that is the Actuarial Equivalent of the sum of the Ne" Employee's Accrued Benefit and the Employee's other benefits under the Plan. The preceding paragraph shall not apply if: (1) after payment of the benefit to an Employee described in the preceding paragraph, the value of plan assets equals or exceeds 110 percent of the value of current liabilities, as defined in Code Section 412(1)(7), or (2) the value of the benefits for an Employee described above is less than one percent of the value of current liabilities. For purposes of this (b), benefit includes loans in excess of the amount set forth in Code Section 72(p)(2)(A), any periodic income, any withdrawal values payable to a living Employee, and any death benefits not provided by insurance on the Employee's life. SECTION 4.05 -- BENEFITS UPON REEMPLOYMENT AFTER RETIREMENT DATE. If the Employer rehires a Participant after his Retirement Date, any monthly retirement benefit he is receiving shall continue stopped. If he also becomes an Active Participant, there shall be no duplication of % benefits for him under this Plan. Any death benefit from the Accrued Benefit he accrued during this latest period of participation shall be determined as provided in the DEATH BENEFITS SECTION of Article V. The retirement benefit from such Accrued Benefit shall be payable according to the provisions of Article IV and Article VI. litaw ARTICLE IV 31 (59448) ail ARTICLE V OTHER BENEFITS SECTION 5.01- -DEATH BENEFITS. If a Participant dies before his Annuity Starting Date, death benefits shall be determined under subsections (a) and (b) below. (a) Qualified Preretirement Survivor Annuity: A qualified Preretirement Survivor Annuity shall be payable if the following requirements are met: (1) The Participant is survived by a spouse to whom he was continuously married throughout the one -year period ending on the date he dies. (2) The Participant's Vesting Percentage or Required Contribution Account on the date of his death was greater than zero. If the requirements above are met on the date the Participant dies, a Qualified Preretirement Survivor Annuity shall be payable. The spouse may elect to start benefits on any first day of the month on or after the earliest date retirement benefits could have been paid to the Participant if he had ceased to be an Employee on the date of his death and survived to retire. Benefits must start Now by the date the Participant would have been age 70 1/2. If the spouse dies before the Qualified Preretirement Survivor Annuity starts, the only death benefit payable from his Accrued Benefit is that provided in (b) below. If a single -sum death benefit would otherwise be payable in (b) below, the monthly benefit payable to the spouse under the Qualified Preretirement Survivor Annuity shall not be less than the monthly benefit which is the Actuarial Equivalent of the single -sum death benefit at the date benefits start. If the Participant elects to have the single -sum death benefit in (b) below paid to his Beneficiary after the requirements above are met or if the spouse waives the Qualified Preretirement Survivor Annuity by electing to have the single -sum death benefit in (b) below paid to himself as Beneficiary after the requirements above are met, the Qualified Preretirement Survivor Annuity shall be reduced. The amount of the reduction shall be equal to the monthly benefit which is the Actuarial Equivalent of what would have been the single -sum death benefit at the date benefits start. (b) Single sum death benefit: If the requirements of subsection (a) above have not been met on the date a Participant dies, a single -sum death benefit equal to his Required Contribution Account on the date he died shall be payable to the Participant's Beneficiary. If the requirements of subsection (a) above have been met on the date such Participant dies and the Qualified Preretirement Survivor Annuity has not been waived, but the Participant's spouse dies before the Qualified Preretirement Survivor Annuity starts, ARTICLE V 32 (59448) • this single -sum death benefit, determined as of the date of the spouse's death, shall be paid to the spouse's Beneficiary. Before a single -sum death benefit will be paid on account of the death of a Participant who would vlow have met all the requirements in (a) above if he had had a spouse on the date of his death, it must be established to the satisfaction of a plan representative that there is no spouse. If a Participant dies on or after his Normal Retirement Date and before his Annuity Starting Date and such Participant is survived by a spouse to whom he was continuously married throughout the one -year period ending on the date of his death, the death benefit shall be payable in like manner as provided under (a) and (b) above. If a Participant dies on or after his Normal Retirement Date and before his Annuity Starting Date and such Participant is not survived by a spouse to whom he was continuously married throughout the one -year period ending on the date of his death, the provisions of subsections (a) and (b) shall not apply. Instead, the death benefit shall be the preservation of retirement option death benefit. This death benefit is the death benefit which would have been payable to the Participant's Beneficiary or Contingent Annuitant if the Participant's Retirement Date had occurred on the date he died. The optional form of distribution elected according to the provisions of the ELECTION PROCEDURES SECTION of Article VI before the Participant's death is the form in effect for determining the death benefit. For purposes of this death benefit only, an election of an optional form of distribution shall be a qualified election even if it is not made within 90 days of the date retirement benefits would have begun if it meets all of the other requirements for a qualified election. The automatic form of distribution for retirement benefits under the AUTOMATIC FORMS OF DISTRIBUTION SECTION of Article VI shall be in effect if an election has not been made or an election is revoked without a subsequent election according to the provisions of the ELECTION PROCEDURES SECTION of Article VI. Any death benefit payable shall be subject to the distribution limitations of the OPTIONAL FORMS OF DISTRIBUTION AND DISTRIBUTION REQUIREMENTS SECTION of Article VI. If, after any death benefit above is distributed in a single sum, the Present Value of the remaining Qualified Preretirement Survivor Annuity payable under (a) above is $3,500 or less, the spouse may receive such Present Value in a single -sum payment in lieu of the Qualified Preretirement Survivor Annuity. It will be distributed only if the spouse so elects. Any death benefit after Annuity Starting Date will be determined by the form of retirement benefit in effect on a Participant's Annuity Starting Date. SECTION 5.02 -- VESTED BENEFITS. A Participant who becomes an Inactive Participant before retirement or death (and, if applicable, before the date a disability payment begins under the DISABILITY BENEFITS SECTION of Article V) will be entitled to one of the following vested benefits whichever is to applicable. Any distribution of vested benefits shall be a retirement benefit and shall be subject to the distribution of benefits provisions of Article VI and the provisions of the SMALL AMOUNTS SECTION of Article IX. (a) A deferred monthly retirement benefit on the Normal Form to begin on his Normal Retirement Date. The deferred retirement benefit will be equal to the product of (1) and (2): loier (1) The Participant's Accrued Benefit on the day before he became an Inactive Participant. ARTICLE V 33 (59448) li 1 111 (2) The Participant's Vesting Percentage on the date he ceases to be an Employee. (b) A deferred monthly retirement benefit on the Normal Form to begin on his Early Retirement Date. The deferred retirement benefit shall be equal to the amount under (a) above multiplied by the applicable early retirement factor in the AMOUNT OF BENEFIT AT RETIREMENT SECTION of Article IV. (c) A deferred monthly retirement benefit on the Normal Form to begin on his Late Retirement Date. The deferred retirement benefit shall be determined as follows: (1) For a Participant who became an Inactive Participant on or before his Normal Retirement Date, an amount equal to the amount under (a) above multiplied by the late retirement factor in the AMOUNT OF BENEFIT AT RETIREMENT SECTION of Article IV which corresponds to the number of years his Late Retirement Date follows his Normal Retirement Date. (2) For a Participant who became an Inactive Participant after his Normal Retirement Date,an amount equal to the greater of (i) or (ii) below: (i) The Participant's Accrued Benefit on the day before the date he became an Inactive Participant. (ii) His Accrued Benefit on his Normal Retirement Date multiplied by the late retirement factor in the AMOUNT OF BENEFIT AT RETIREMENT SECTION of Article IV which corresponds to the number of years his Late Retirement Date follows his Normal r Retirement Date. The deferred retirement benefit for the Participant on his Retirement Date shall not be less than - -the monthly benefit which is the Actuarial Equivalent of his Required Contribution Account on such date. The amount of payment under any form (other than the Normal Form) shall be determined as provided under the OPTIONAL FORMS OF DISTRIBUTION AND DISTRIBUTION REQUIREMENTS SECTION of Article VI. After the Participant ceases to be an Employee, the deferred retirement benefit shall not decrease because of any post- separation social security benefit increase. If he again becomes na Active Participant, such a decrease shall also not apply to any deferred retirement benefit to which he was entitled before his Reentry Date. The Participant may receive his Required Contribution Account in a single -sum payment at any time after he ceases to be an Employee and before his Retirement Date, provided he has not again become an Employee. If such amount is not payable under the provisions of the SMALL AMOUNTS SECTION of Article IX, it will be distributed only if the Participant so elects. Such payment shall result in all or a portion of his Accrued Benefit being disregarded. If, after any single -sum distribution above which occurs before a Participant's Retirement Date, the Present Value of the Participant's remaining vested Accrued Benefit payable at Normal Retirement Date is $3,500 or less, the Participant may receive the entire Present Value in a single -sum payment, provided he has not again become an Employee. Such amount will be distributed only if the Participant so elects. Such payment shall result in all v`,,. of the Participant's Accrued Benefit being disregarded and shall be in full settlement of all benefits otherwise payable. ARTICLE V 34 (59448) 11 L If the Participant dies before his Annuity Starting Date, death benefits shall be distributed according to the provisions of the DEATH BENEFITS SECTION of Article V. ,,, SECTION 5.03 -- DISABILITY BENEFITS. If an Active Participant becomes Totally and Permanently Disabled before his Retirement Date (Normal Retirement Date, if earlier), a disability benefit shall be payable to him. The disability benefit payable to a Participant who becomes totally and Permanently Disabled is an immediate monthly benefit equal to his Accrued Benefit on the day before his monthly disability benefit begins, but not less than 25% of his Average Compensation as of such date. Monthly disability benefit payments shall begin on the earliest first day of the month on or after the date the Participant meets the requirements under this section. Such payments shall continue through the first day of the month before the earliest of his Retirement Date (Normal Retirement Date, if earlier), the date of his death or the day following the date he is no longer Totally and Permanently Disabled. If the payments continue through the first day of the month before the Participant's Retirement Date (Normal Retirement Date, if earlier), retirement benefits shall be provided for him on his Retirement Date under the provisions of Article IV as if he were an Active Participant. His Accrued Benefit shall be equal to his Accrued Benefit as of the day before the disability benefit began. However, such Accrued Benefit shall not be less than the amount of monthly disability payment paid to him under this section. If, before the Participant's Retirement Date (Normal Retirement Date, if earlier), he recovers and returns to active work for the Employer within one month of his recovery, the payments shall stop and he shall again become an Active Participant under the ``' ACTIVE PARTICIPANT SECTION of Article II. if, before the Participant's Retirement Date (Normal Retirement Date, if earlier), he recovers and does not return to active work for the Employer within one month of his recovery, the payments shall stop and his benefits shall be redetermined, on the date he ceased to be an Employee, under the VESTED BENEFITS SECTION of Article V. ARTICLE V 35 (59448) [Jo a y ARTICLE VI 'Name WHEN BENEFITS START AND DISTRIBUTION OF BENEFITS SECTION 6.01- -WHEN BENEFITS START. Benefits under the Plan begin when a Participant retires, dies, ceases to be an Employee, or becomes Totally and Permanently Disabled, whichever applies, as provided in Article IV and Article V. Benefits may begin on an earlier date to the extent necessary to avoid a violation of Code Section 415 or 411(b). Benefits shall begin by the Participant's Required Beginning Date, as defined in the OPTIONAL FORMS OF DISTRIBUTION AND DISTRIBUTION REQUIREMENTS SECTION of Article VI. SECTION 6.02 -- AUTOMATIC FORMS OF DISTRIBUTION. The automatic form of retirement benefit for a Participant who does not die before his Annuity Starting Date shall be the Qualified Joint and Survivor Form. The amount of payment under the Qualified Joint and Survivor Form shall be determined as provided in the OPTIONAL FORMS OF DISTRIBUTION AND DISTRIBUTION REQUIREMENTS SECTION of Article VI. The automatic form of death benefit for a Participant who dies before his Annuity Starting Date is determined according to the provisions of the DEATH BENEFITS SECTION of Article VI. *tow SECTION 6.03 -- OPTIONAL FORMS OF DISTRIBUTION AND DISTRIBUTION REQUIREMENTS. (a) For purposes of this section, the following terms are defined: Designated Beneficiary means the individual who is designated as the beneficiary under the Plan in accordance with Code Section 401(a)(9) and the proposed regulations thereunder. Distribution Calendar Year means a calendar year for which a minimum distribution is required. For distributions beginning before the Participant's death, the first Distribution Calendar Year is the calendar year immediately preceding the calendar year which contains the Participant's Required Beginning Date. For distributions beginning after the Participant's death, the first Distribution Calendar Year is the calendar year in which distributions are required to begin pursuant to (h) below. Joint and Last Survivor Expectancy means the joint and last survivor expectancy calculated using the attained age of the Participant (or Designated Beneficiary) as of the Participant's (or Designated Beneficiary's) birthday in the applicable calendar year. The applicable calendar year shall be the Distribution Calendar Year. If annuity payments commence before the Required Beginning Date, the applicable calendar year is the year such payments commence. Joint and Last Survivor Expectancy is computed by use of the expected return multiples in Table VI of section 1 .72 -9 of the Income Tax Regulations. ARTICLE VI 36 (59448) Life Expectancy means the life expectancy calculated using the attained age of the Participant (or Designated Beneficiary) as of the Participant's (or Designated Beneficiary's) birthday in the applicable calendar year. The applicable calendar year shall be the Distribution Calendar Year. If *tor annuity payments commence before the Required Beginning Date, the applicable calendar year is the year such payments commence. Life Expectancy is computed by use of the expected return multiples in Table V of section 1.72 -9 of the Income Tax Regulations. Required Beginning Date means, for a Participant, the later of the April 1 following the calendar year in which a Participant attains age 70 1/2 or the April 1 of the year following the calendar year in which retirement occurs. (b) The optional forms of retirement benefit shall be the following: a straight life annuity; single life annuities with certain periods of five, ten or fifteen years; and survivorship life annuities with survivorship percentages of 50, 66 2/3 or 100. The benefit payable on any optional annuity form available above (other than the Normal Form) shall be the Actuarial Equivalent of the benefit that would otherwise be payable on the Normal Form. Election of an optional form is subject to the qualified election provisions of Article VI. Any annuity contract distributed shall be nontransferable. The terms of any annuity contract purchased and distributed by the Plan to a Participant or spouse shall comply with the requirements of this Plan. (c) The optional forms of death benefit are any annuity that is an optional form of retirement benefit. (d) Subject to the AUTOMATIC FORMS OF DISTRIBUTION SECTION of Article VI, joint and survivor annuity requirements, the requirements of this section shall apply to any distribution of a Participant's interest and will take precedence over any inconsistent provisions of this Plan. Unless otherwise specified, the provisions of this section apply to calendar years beginning after December 31, 1984. All distributions required under this section shall be determined and made in accordance with the proposed regulations under Code Section 401(a)(9), including the minimum distribution incidental benefit requirement of section 1 .401(a)(9) -2 of the proposed regulations. (e) Required Beginning Date. The entire interest of a Participant must be distributed or begin to be distributed no later than the Participant's Required Beginning Date. (f) Limits on Distribution Periods. As of the first Distribution Calendar Year, distributions, if not made in a single sum, may only be made over one of the following periods (or combination thereof): (1) the life of the Participant, (2) the life of the Participant and a Designated Beneficiary, Now (3) a period certain not extending beyond the Life Expectancy of the Participant, or ARTICLE VI 37 (59448) I - - L (4) a period certain not extending beyond the Joint and Last Survivor Expectancy of the Participant and a Designated Beneficiary. (g) Determination of amount to be distributed each year. (1) If the Participant's interest is to be paid in the form of annuity distributions under the Plan, payment under the annuity shall satisfy the following requirements: (i) the annuity distributions must be paid in periodic payments made at intervals not longer than one year; (ii) the distribution period must be over a life (or lives) or over a period certain not longer than a Life Expectancy (or Joint and Last Survivor Expectancy) described in Code Section 401(a)(9)(A)(ii) or Code Section 401(a)(9)(B)(iii), whichever is applicable; (iii) the Life Expectancy (or Joint and Last Survivor Expectancy) for purposes of determining the period certain shall be determined without recalculation of Life Expectancy; (iv) once payments have begun over a period certain, the period certain may not be lengthened even if the period certain is shorter than the maximum permitted; (v) payments must either be nonincreasing or increase only as follows: fir►' (a) with any percentage increase in a specified and generally recognized cost -of- living index; (b) to the extent of the reduction to the amount of the Participant's payments to provide for a survivor benefit upon death, but only if the Beneficiary whose life was being used to determine the distribution period described in (f) above dies and the payments continue otherwise in accordance with (f) above over the life of the Participant; (c) to provide cash refunds of employees contributions upon the Participant's death; or (d) because of an increase in benefits under the Plan. (vi) If the annuity is a life annuity (or a life annuity with a period certain not exceeding 20 years), the amount which must be distributed on or before the Participant's Required Beginning Date (or, in the case of distributions after the death of the Participant, the date distributions are required to begin pursuant to (h) below) shall be the payment which is required for one payment interval. The second payment need not be made until the end of the next payment interval even if that payment interval ends in the next calendar year. Payment intervals are the period for which payments are received, e.g., bimonthly, monthly, semi - annually, or annually. ARTICLE VI 38 (59448) ] I ! 1 I , r If the annuity is a period certain annuity without a life contingency (or is a life annuity with a period certain exceeding 20 years) periodic payments for each Distribution Calendar Year shall be combined and treated as an annual amount. The amount which Nor must be distributed by the Participant's Required Beginning Date (or, in the case of distributions after the death of the Participant, the date distributions are required to begin pursuant to (h) below) is the annual amount for the first Distribution Calendar Year. The annual amount for other Distribution Calendar Years, including the annual amount for the calendar year in which the Participant's Required Beginning Date (or the date distributions are required to begin pursuant to (h) below) occurs, must be distributed on or before December 31 of the calendar year for which the distribution is required. (2) Annuities purchased after December 31, 1988, are subject to the following additional conditions: (i) Unless the Participant's spouse is the Designated Beneficiary, if the Participant's interest is being distributed in the form of a period certain annuity without a life contingency, the period certain as of the beginning of the first Distribution Calendar Year may not exceed the applicable period determined using the table set forth in Q &A A -5 of section 1 .401(a)(9) -2 of the proposed regulations. (ii) If the Participant's interest is being distributed in the form of a joint and survivor annuity for the joint lives of the Participant and a nonspouse Beneficiary, annuity payments to be made on or after the Participant's Required Beginning __ Date to the Designated Beneficiary after the Participant's death must not at any time exceed the applicable percentage of the annuity payment for such period that would have been payable to the Participant using the table set forth in Q &A A -6 of section 4.01 (a)(9) -2 of the proposed regulations. (iii) Transitional rule. If payment under an annuity which complies with (1) above begins prior to January 1, 1989, the minimum distribution requirements in effect as of July 27, 1987, shall apply to distributions from this Plan, regardless of whether the annuity form of payment is irrevocable. This transitional rule also applies to deferred annuity contracts distributed to or owned by the employee prior to January 1, 1989, unless additional contributions are made under the Plan by the Employer with respect to such contract. (iv) If the form of distribution is an annuity made in accordance with this (g), any additional benefits accruing to the Participant after his Required Beginning Date shall be distributed as a separate and identifiable component of the annuity beginning with the first payment interval ending in the calendar year in which such amount accrues. (v) Any part of the Participant's interest which is in the form of an individual account shall be distributed in a manner satisfying the requirements of Code _ Section 401(a)(9) and the proposed regulations thereunder. (h) Death Distribution Provisions. ARTICLE VI 39 (59448) (1) Distribution beginning before death. If the Participant dies after distribution of his interest has begun, the remaining portion of such interest will continue to be distributed at least as rapidly as under the method of distribution being used prior to the Participant's death. Nor (2) Distribution beginning after death. If the Participant dies before the distribution of his interest begins, distribution of the Participant's entire interest shall be completed by December 31 of the calendar year containing the fifth anniversary of the Participant's death except to the extent that an election is made to receive distributions in accordance with (i) or (ii) below: (i) If any portion of the Participant's interest is payable to a Designated Beneficiary, distributions may be made over the life or over a period certain not greater than the Life Expectancy of the Designated Beneficiary commencing on or before December 31 of the calendar year immediately following the calendar year in which the Participant died; (ii) If the Designated Beneficiary is the Participant's surviving spouse, the date distributions are required to begin in accordance with (i) above shall not be earlier than the later of (a) December 31 of the calendar year immediately following the calendar year in which the Participant died and (b) December 31 of the calendar year in which the Participant would have attained age 70 1/2. If the Participant has not made an election pursuant to this (2) by the time of his ,,, death, the Participant's Designated Beneficiary must elect the method of distribution no later than the earlier of (a) December 31 of the calendar year in which distributions would be required to begin under this (h), or (b) December 31 of the calendar year which contains the fifth anniversary of the date of death of the Participant. If the Participant has no Designated Beneficiary, or if the Designated Beneficiary does not elect a method of distribution, distribution of the Participant's entire interest must be completed by December 31 of the calendar year containing the fifth anniversary of the Participant's death. (3) For purposes of (2) above, if the surviving spouse dies after the Participant, but before payments to such spouse begin, the provisions of (2) above, with the exception of (ii) therein, shall be applied as if the surviving spouse were the Participant. (4) For purposes of this (h), any amount paid to a child of the Participant will be treated as if it had been paid to the surviving spouse if the amount becomes payable to the surviving souse when the child reaches the age of majority. (5) For the purpose of this (h), distribution f a Participant's interest is considered to begin on the Participant's Required Beginning Date (or, if (3) above is applicable, the date distribution is required to begin to the surviving spouse pursuant to (2) above). If distribution in the form of an annuity described in (g) above irrevocably commences Now to the Participant before the Required Beginning Date, the date distribution is considered to begin is the date distribution actually commences. ARTICLE VI 40 (59448) 3c SECTION 6.04 -- ELECTION PROCEDURES. The Participant, Beneficiary, or spouse shall make any election under this section in writing. The Plan 'r Administrator may require such individual to complete and sign any necessary documents as to the provisions to be made. (a) Retirement Benefits. A Participant may elect his Beneficiary or Contingent Annuitant and may elect to have retirement benefits distributed under any of the optional forms of retirement benefit described in the OPTIONAL FORMS OF DISTRIBUTION AND DISTRIBUTION REQUIREMENTS SECTION of Article VI. (b) Death Benefits. A Participant may elect his Beneficiary for any single -sum death benefits and may elect to have such death benefits distributed under any of the optional forms of death benefit described in the OPTIONAL FORMS OF DISTRIBUTION AND DISTRIBUTION REQUIREMENTS SECTION of Article VI. The Participant may waive the Qualified Preretirement Survivor Annuity by electing not to have the single -sum death benefit used to provide a minimum Qualified Preretirement Survivor Annuity as described in the DEATH BENEFITS SECTION of Article V. If the Participant makes this election, the single -sum death benefit shall be paid as if the requirements of subsection (a) of the DEATH BENEFITS SECTION of Article V have not been met. If the Participant has not elected an optional form of distribution for the death benefit payable to his Beneficiary, the Beneficiary may, for his own benefit, elect the form of distribution, in like fib•' manner as a Participant. The spouse may waive the Qualified Preretirement Survivor Annuity by electing not to have the single -sum death benefit used to provide a minimum Qualified Preretirement Survivor Annuity as described in the DEATH BENEFITS SECTION of Article V. If the spouse makes this election, the single -sum death benefit shall be paid as if the requirements of subsection (a) of the DEATH BENEFITS SECTION of Article V had not been met and the Participant had named his spouse as Beneficiary. In lieu of the Qualified Preretirement Survivor Annuity described in the DEATH BENEFITS SECTION of Article V, the spouse may, for his own benefit, waive the Qualified Preretirement Survivor Annuity by electing to have the benefit distributed under any of the optional forms of death benefit described in the OPTIONAL FORMS OF DISTRIBUTION AND DISTRIBUTION REQUIREMENTS SECTION of Article VI. (c) Qualified Election. The Participant, Beneficiary, or spouse may make an election at any time during the election period. The Participant, Beneficiary, or spouse may revoke the election made (or make a new election) at any time and any number of times during the election period. The Participant may make an election as to death benefits at any time before he dies. The spouse's Now election period begins on the date the Participant dies and ends on the date benefits begin. The Beneficiary's election period begins on the date the Participant dies and ends on the date benefits begin. ARTICLE VI 41 (59448) 17) � , SECTION 6.05 -- TRANSITIONAL RULES. In modification of the preceding provisions of this article, distributions may be made in a form which would Nor not have caused this Plan to be disqualified under Code Section 401(a)(9) as in effect before the TEFRA Compliance Date. The form must be elected by the Participant or, if the Participant has died, by the Beneficiary. The election must be made in writing and signed before January 1, 1984. The election will only be applicable if the Participant has an Accrued Benefit as of December 31, 1983. The Participant's or Beneficiary's election must specify when the distribution is to begin, the form of distribution and the Contingent Annuitant and /or Beneficiaries listed in the order of priority, if applicable. A distribution upon death will not be covered by this transitional rule unless the election contains the required information described above with respect tot he distributions to be made when the Participant dies. Distributions in the process of payment on January 1, 1984, are deemed to meet the above requirements if the form of distribution was elected in writing and the form met the requirements of Code Section 401(a)(9) as in effect before the TEFRA Compliance Date. If the election under this paragraph is revoked any subsequent distribution must meet the requirements of Code Section 401(a)(9) and the proposed regulations are required to begin, the Plan must distribute by the end of the calendar year following the calendar year in which the revocation occurs the total amount not yet distributed which would have been required to have been distributed to satisfy Code Section 401(a)(9) and the proposed regulations thereunder, but for the TEFRA Section 242(b)(2) election. For calendar years beginning after December 31, 1988, such distribution must meet the minimum distribution incidental benefit requirements in section 1 .401(a)(9) -2 of the proposed regulations. any changes in the election will be considered a revocation of the election. However, the mere substitution or addition of another Beneficiary (one not named in the election) under the election will not be considered to be a revocation of the election, so long as such substitution or addition does not alter the period over which distributions are to be made under the election, directly or indirectly (for example, by altering the relevant measuring life). ARTICLE VI 42 (59448) r� C I ARTICLE VII low _ TERMINATION OF PLAN The Employer expects to continue the Plan indefinitely but reserves the right to terminate the Plan in whole or in part at any time upon giving written notice to all parties concerned. A Participant shall be fully (100 %) vested in his Accrued Benefit upon termination of the Plan. Upon complete termination of Plan, no further Employees shall become Participants, and no further Contributions shall be made except as may be required by any governmental agency to which the Plan's termination is subject. This Plan is not subject to Title IV of the Employee Retirement Income Security Act of 1974 (ERISA), benefits are not insured by the Pension Benefit Guaranty Corporation, and the Participant's recourse will be limited to plan assets. However, the assets of the Plan that are available to provide benefits shall be allocated and applied as of the effective date of termination of Plan according to any rules, regulations, interpretations, or opinions implementing said Title IV or any other equitable method as determined by the Plan Administrator and agreed upon by the Insurer. No part of the Plan assets shall be paid to the employer at any time, except that, after the satisfaction of all liabilities under the Plan, any assets remaining will be paid to the Employer. The payment may not be made if it would contravene any provision of law. ARTICLE VII 43 (59448) 4 Q [� ARTICLE VIII o ,, ADMINISTRATION OF PLAN SECTION 8.01 - -BOARD OF TRUSTEES. A. The sole and exclusive administration of and the responsibility for the proper operation of the Plan and for making effective the provisions of this resolution are hereby vested in a Board of Trustees. The Board of Trustees is hereby designated as the Plan Administrator. B. The Board of Trustees shall consist of five (5) Trustees, two of whom, unless otherwise prohibited by law, shall be legal residents of the City, who shall be appointed by The City of Edgewater City Council and two of whom shall be Members of the City of Edgewater Police Department who shall be elected by a majority of the Police Officers who are Members of the Plan. The fifth Trustee, who shall also be a legal resident of the City of Edgewater, shall be chosen by a majority of the previous four Trustees as provided for herein and such person's name shall be submitted to the City of Edgewater City Council. Upon receipt of the fifth person's name, the City of Edgewater City Council shall, as a ministerial duty, appoint such person to the Board of Trustees as its fifth Trustee. The fifth Trustee shall have the same rights as each of the other four Trustees appointed or elected as herein provided and shall serve a two (2) year term unless he sooner vacates the office. Each City Council appointed Trustee shall serve as Trustee for a period of two (2) years unless he sooner vacates the office or is sooner replaced by the City of Edgewater City Council at whose pleasure he shall serve. Each Police Officer Trustee shall serve as Trustee for a period of two (2) years, unless he sooner leaves the employment of the City as a Police Officer or otherwise vacates his office as Trustee, whereupon a successor shall be chosen in the same manner as the departing Police Officer Trustee. Each Trustee may succeed himself in office. The Board shall establish and administer the nominating and election procedures for electing the fifth Trustee and Officers of the Board of Trustees. C. The Board shall meet at least quarterly each year. D. The Board shall be a legal entity with, in addition to other powers and responsibilities contained herein, the power to bring and defend lawsuits of every kind, nature, and description. E. The City Attorney shall give advice to said Board of Trustees in all matters pertaining to their duties in the administration of the Plan whenever requested; and shall represent and defend said board as its attorney in all suits and actions at law or in equity that may be brought against it and bring all suits and actions in its behalf that may be required or determined upon by said Board. However, if the Board of Trustees so elects, it may employ independent legal counsel at the pension fund's expense for the purposes contained herein, together with such other professional, technical, or other advisers as the Board deems necessary. F. The Trustees shall, by a majority vote, elect a Chairman and a Secretary. The Secretary of the %to' Board shall keep a complete minute book of the actions, proceedings, or hearings of the Board. ARTICLE VIII 44 (59448) U (L G. The Trustees shall not receive any compensation as such, but may receive expenses and per diem as provided by law. Nor H. Each Trustee shall be entitled to one vote on the Board. Three (3) affirmative votes shall be necessary for any decision by the Trustees at any meeting of the Board. A Trustee shall have the right to abstain from voting as the result of a conflict of interest provided that Trustee complies with the provisions of Section 112.3143, Florida Statutes. The Board of Trustees shall engage such actuarial, accounting, legal, and other services as shall be required to transact the business of the Plan. The compensation of all persons engaged by the Board and all other expenses of the Board necessary for the operation of the Plan shall be paid from the Pension Fund at such rates and in such amounts as the Board shall agree. J. The duties and responsibilities of the Board shall include, but not necessarily be limited to the following: 1. To construe the provisions of the Plan and determine all questions arising thereunder. 2. To determine all questions relating to eligibility and participation. 3. To determine and certify the amount of all retirement allowances or other benefits hereunder. 4. To establish uniform rules and procedures to be followed for administrative purposes, benefit applications and all matters required to administer the Plan. 5. To distribute to Participants, at regular intervals, information concerning the Plan. 6. To receive and process all applications for benefits. 7. To authorize all payments whatsoever from the Plan, and to notify the disbursing agent, in writing, of approved benefit payments and other expenditures arising through operation of the Plan. S�c�r25 8.. To have performed actuarial dtrt -es and valuations, at least as often as required by law, and make recommendations regarding any and all changes in the provisions of the Plan. 9. Annually on or before March 15th the Trustees must submit the following information on the State of Florida Division of Retirement: (a) A certified copy of each and every instrument constituting or evidencing the Plan. (b) An independent audit by a Certified Public Accountant for the most recent fiscal year of the City of Edgewater showing a detailed listing of the assets and a statement of all income and disbursements during the year. Such income and disbursements must fipv be reconciled with the assets at the beginning and end of the year. (c) A certified statement listing the investments of the plan and a description of the methods used in valuing the investments. ARTICLE VIII 45 (59448) ‘ ., (d) A statistical exhibit showing the total number of policemen, the number included in the plan, and the number ineligible classified according to the reasons for their being ineligible. (e) A statement of the amount the municipality and other income sources have contributed toward the plan or will contribute toward the plan for the current calendar year. When any of these items would be identical with the corresponding item submitted for a previous year, it is not necessary for the Trustees to submit duplicate information if they make reference to the item in such previous year's report. These duties and responsibilities shall not be interpreted to authorize the Board to amend the Plan. The Plan shall only be amended upon approval of the City Council. K. Where any action which the Board is required to take or any duty or function which it is required to perform either under the terms herein or under the general law applicable to it as Trustee under this resolution can reasonably be taken or performed only after receipt by it from a Participant, the City, or any other entity, of specific information, certification, direction or instructions, the Board shall be free of liability in failing to take such action or perform such duty or function until such information, certification, direction or instruction has been received by it. L. The Board shall sustain no liability whatsoever for the sufficiency of the Fund to meet the payments and benefits herein provided for. Nor M. In any application to or proceeding or action in the courts, only the Board shall be a necessary party, and no Participant or other person having an interest in the fund shall be entitled to any notice or service of process. Any judgment entered in such a proceeding or action shall be conclusive upon all persons. L. Any of the foregoing powers and functions reposed in the Board may be performed or carried out by the Board through duly authorized agents provided that the Board at all times maintains continuous supervision over the acts of any such agent; provided further, that legal title to said Fund shall always remain in the Board. SECTION 8.02 -- RECORDS. All acts and determinations of the Plan Administrator shall be duly recorded. All these records, together with other documents necessary for the administration of the Plan, shall be preserved in the Plan Administrator's custody. Writing (handwriting, typing, printing) photostating, photographing, microfilming, magnetic impulse, mechanical or electrical recording or other forms of data compilation shall be acceptable means of keeping records. Now ARTICLE VIII 46 (59448) • i 1-11 U I SECTION 8.03 -- INFORMATION AVAILABLE. Any Participant in the Plan or any Beneficiary may examine copies of the Plan description, latest annual report, any bargaining agreement, this Plan, the Group Contract or any other instrument under which the Plan was established or is operated. The Plan Administrator shall maintain all of the items listed in this section in its office, or in such other place or places as it may designate in order to comply with governmental regulations. These items may be examined during reasonable business hours. Upon the written request of a Participant or Beneficiary receiving benefits under the Plan, the Plan Administrator will furnish him with a copy of any of these items. The Plan Administrator may make a reasonable charge to the requesting person for the copy. SECTION 8.04 -- DELEGATION OF AUTHORITY. All or any part of the administrative duties and responsibilities under this article may be delegated by the Plan Administrator to a retirement committee. The duties and responsibilities of the retirement committee shall be set out in a separate written agreement. Now ARTICLE VIII 47 (59448) � I ARTICLE IX GENERAL PROVISIONS SECTION 9.01 -- AMENDMENTS. The Employer may amend this Plan at any time, including any remedial retroactive changes (within the specified period of time as may be determined by Internal Revenue Service regulations) to comply with the requirements of any law or regulation issued by any governmental agency to which the Plan is subject. An amendment (including a change in the actuarial basis for determining optional retirement benefits) may not diminish or adversely affect any accrued interest or benefit of Participants or their beneficiaries nor allow reversion or diversion of Plan assets to the Employer at any time, except as may be necessary to comply with the requirements of any law or regulation issued by any governmental agency to which the Plan is subject. If the Group Contract is amended to change the actuarial basis used to determine benefits payable under the Plan and the amendment is subject to the contractholder's discretion, any benefit payable on or after the effective date of such amendment which is attributable to a Participant's Accrued Benefit as of such effective date, shall not be less than the amount of benefit the Participant would have received if the actuarial basis had not been changed. SECTION 9.02 -- DIRECT ROLLOVERS. This section applies to distributions made on or after January 1, 1993. Notwithstanding any provision of the Plan to the contrary that would otherwise limit a Distributee's election under this section, a Distributee may elect, at the time and in the manner prescribed by the Plan Administrator, to have any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan, specified by the Distributee, in a Direct Rollover. SECTION 9.03 -- PROVISIONS RELATING TO THE INSURER. The obligations of the Insurer shall be governed solely by the provisions of the Group Contract. The Insurer shall not be required to perform any act not provided in or contrary to the provisions of the Group Contract. See the CONSTRUCTION SECTION of this article. The Insurer is not a party to the Plan, nor bound in any way by the Plan provisions. It shall not be required to look to the terms of this Plan, nor to determine whether the Employer or the Plan Administrator have the authority to act in any particular manner or to make any contract or agreement. Until notice of any amendment or termination of this Plan has been received by the Insurer at its home office, the Insurer is and shall be fully protected in assuming that the Plan has not been amended or terminated according to the latest information which it has received at its home office. SECTION 9.04 -- EMPLOYMENT STATUS. err Nothing contained in this Plan gives an Employee the right to be retained in the Employer's employ or to interfere with the Employer's right to discharge any Employee. ARTICLE IX 48 (59448) r � I l 2 ,J / SECTION 9.05 -- RIGHTS TO PLAN ASSETS. No Employee shall have any right to or interest in any assets of the Plan upon termination of his employment or otherwise except as specifically provided under this Plan, and then only to the extent of the benefits payable to such Employee in accordance with Plan provisions. Any final payment or distribution to a Participant or his legal representative or to any Beneficiaries, spouse or Contingent Annuitant of such Participant under the Plan provisions shall be in full satisfaction of all claims against the Plan, the Plan Administrator, the Insurer, and the Employer arising under or by virtue of the Plan. SECTION 9.06 -- BENEFICIARY. Each Participant may name a Beneficiary to receive any death benefit (other than any income payable to a Contingent Annuitant) that may arise out of his participation in the Plan. The Participant may change his Beneficiary from time to time. Unless an election has been made, for purposes of distributing any death benefits before Retirement Date, the Beneficiary of a Participant who has a spouse who is entitled to a Qualified Preretirement Survivor Annuity shall be the Participant's spouse. the Participant's Beneficiary designation and any change of Beneficiary shall be subject to the provisions of the ELECTION PROCEDURES SECTION of Article VI. It is the responsibility of the Participant to give written notice to the Insurer of the name of the Beneficiary on a form furnished for that purpose. With the Employer's consent, the Plan Administrator may maintain records of Beneficiary designations for Participants before their Retirement Dates. In that event, the written designations made by Participants shall be filed with the Plan Administrator. If a Participant dies before his Retirement Date, the Plan Administrator shall certify to the Insurer the Beneficiary designation on its records for the Participant. If, at the death of a Participant, there is no Beneficiary named or surviving, any death benefit under the Group Contract shall be paid under the applicable provisions of the Group Contract. SECTION 9.07 -- NONALIENATION OF BENEFITS. Benefits payable under the Plan are not subject to the claims of any creditor of any Participant, Beneficiary, spouse or Contingent Annuitant. A Participant, Beneficiary, spouse or Contingent Annuitant does not have any rights to alienate, anticipate, commute, pledge, encumber or assign any of such benefits. SECTION 9.08 -- CONSTRUCTION. The validity of the Plan or any of its provisions is determined under and construed according to Florida state law. In case any provision of this Plan is held illegal or invalid for any reason, such determination shall not affect the remaining provisions of this Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had never been included. In the event of any conflict between the provisions of the Plan and the terms of any contract or policy issued hereunder, the provisions of the Plan control the operation and administration of the Plan. 'our ARTICLE IX 49 (59448) SECTION 9.09 - -LEGAL ACTIONS. The Plan and the Plan Administrator are the necessary parties to any action or proceeding involving the i11 '' assets held with respect to the Plan or administration of the Plan. No person employed by the Employer, no Participant, former Participant or their Beneficiaries or any other person having or claiming to have an interest in the Plan is entitled to any notice of process. A final judgment entered in any such action or proceeding shall be binding and conclusive on all persons having or claiming to have an interest in the Plan. SECTION 9.10- -SMALL AMOUNTS. If the Present Value of the Participant's vested Accrued Benefit has never exceeded $3,500, such Present Value shall be payable in a single sum as of the Participant's Retirement Date or the date he ceases to be an Employee for any reason other than death. If the Participant's vested Accrued Benefit is zero on the date he ceases to be an Employee for any reason other than death, he shall be deemed to have received a single -sum payment of the Present Value of his vested Accrued Benefit on such date. This is a small amounts payment. Such small amounts payment shah be made to the Participant. Such small amounts payment shall result in all of a Participant's Accrued Benefit being disregarded and is in full settlement of all benefits otherwise payable. If the Present Value of the Qualified Preretirement Survivor Annuity derived from the Participant's Accrued Benefit and the Participant's Account has never exceeded $3,500, the Present Value of any death benefit shall be payable in a single sum as of the date the Participant dies if such Present Value is not more than $3,500. This is a small amounts payment. Such small amounts payment shall be made to the Participant's Beneficiary (spouse if the death benefit is payable to the spouse). Such small amounts payment is in full settlement of the death benefit otherwise payable. No other small amounts payments shall be made. SECTION 9.11 - -WORD USAGE. The masculine gender, where used in this Plan, shall include the feminine gender and the singular words as used in this Plan may include the plural, unless the context indicates otherwise. ARTICLE IX 50 (59448) n P U Q By executing this Plan, the Employer acknowledges having counseled to the extent necessary with selected legal and tax advisors regarding the Plan's legal and tax implications. Executed this day of , 19 CITY OF EDGEWATER, FLORIDA By: • Title low PLAN EXECUTION 51 (59448) S. C, D Councilman Hays asked for an example of where we may want to place a sign closer than ten feet to a paved road. Mr. Karet elaborated on his concerns. There was a five - minute recess at this time. Nor Mr. Karet responded to Councilman Hays' earlier concerns raised regarding flags. He commented on flags that are exempt. He informed Councilman Hays that open house flags are prohibited under these regulations. If it is the intent that we allow those open house flags, we can either make them exempt or indicate that they are permitted in areas. Councilman Hays spoke about when the issue of open house flags was discussed several years ago. He feels the builders should be able to advertise within limits. Mayor Hayman commented on other flags he feels should be exempt such as the DAV, VFW, etc. Mr. Karet elaborated on not being in a position of identifying what causes and what individuals have flags that are exempt and which do not. Mayor Hayman feels more flags should be included in the exemption list. Mr. Karet explained the issue is how do we define which flags are exempt. Exempting all flags would probably be the r safest. Mayor Hayman suggested distinguishing non - profit organizations that have flags. Councilman Hatfield feels they may need to separate commercial flags that are used for advertising businesses. He sees no problem with non - profit organizations displaying their flags. Mayor Hayman asked Mr. Karet to look into distinguishing non- profit organizations and commercial flags. Mr. Karet agreed to come back with language that will exempt non - profit organizations. He explained they have to be very careful about trying to define the types of causes. City Attorney Storey questioned where the flags that hang on homes fit in. Mr. Karet explained the intent was never to prohibit them. City Attorney Storey questioned flags in residential areas. Mr. Karet explained the issue is not residential versus non - residential, it will be what type of flags will or won't be exempt. Councilwoman Martin questioned the holiday flags that people hang N u , out. Mr. Karet informed her they will not be affected. Councilman Hatfield made a motion to approve with corrections and to bring this back at the first meeting in February, second by Councilman Hays. The motion CARRIED 5 -0. B. Res. 96 -R -30 Requesting U.S. Army Corps of Engineers provide funds and complete emergency work at North Jetty, Ponce DeLeon Inlet C. Res. 96 -R -31 Requesting U.S. Congress authorize restabilization project at North Jetty. Ponce DeLeon Inlet, and appropriate funding for Federal share D. Res. 96 -R -32 Requesting financial assistance from State of Florida through its Inlet Management Grant Program to fund 50% of Port Authority share for North Jetty, Ponce DeLeon Inlet restabilization Mayor Hayman read Res. 96 -R -30. Nur City Manager McMahon made a presentation. Page -4- Council Regular Meeting December 16, 1996 Councilman Hays commented on Dan O'Brien asking that Council take action on this. He is sorry he wasn't there because he has some questions. He finds it difficult to support anything that the Port Authority wants to do because he has a problem with the Port Authority. We have a special taxing district but there is no special benefit to the City of Edgewater. Those are questions that need to be asked before we support a taxing entity. Councilman Hays made a motion to deny Res. 96 -R -30, second by Councilman Mitchum. Councilman Hays commented on problems they have had with the jetty. He has a problem with having a Port Authority. We do not have or will we ever have a port. That has been made very clear by DEP and EPA. Mayor Hayman spoke about a meeting he and City Manager McMahon had with Mr. O'Brien. Mayor Hayman spoke about the Port Authority looking at two sites, Feger Seafood and the old power generation plant which is number one on the list for the U.S. Army Corps of Engineers and County government. Councilman Hays feels that is number one because that could have a deep water channel without having to negotiate bridges. The DEP has refused the dredging to build a deep water port there. Mayor Hayman explained the federal authorities have said the Port 'l'" Authority and Volusia County would not receive any more federal funds until a port is established. Mayor Hayman encouraged that the motion be amended and asked to table this until Mr. O'Brien can appear at the next meeting. Councilman Hatfield agreed with the Mayor that Mr. O'Brien should be present to discuss the concerns raised. Councilman Hays withdrew his motion. Councilman Mitchum withdrew his second. Councilman Hays made a motion to table Res. 96 -R -30, 96 -R -31, and 96 -R -32, second by Councilman Mitchum. The motion CARRIED 5 -0. CONSENT AGENDA There were no items to be discussed on the consent agenda. QTHER BUSINESS N ow A. Piggybacking City of Melbourne bid for relining of manholes to Infrastructure Impact, Inc. of New Smyrna Beach Councilman Hays made a motion to approve, second by Councilman Mitchum. The motion CARRIED 5 -0. B. Community Development Block Grant FY 1996 -1997 Subrecipient Agreement City Manager McMahon made a staff presentation. Councilman Mitchum made a motion to approve, second by Councilman Hatfield. The motion CARRIED 5 -0. C. First amendment to Police Department Computer Software Agreement City Manager McMahon made a staff presentation. Mayor Hayman stated he had a conflict on interest because of his affiliation with the owner of CET and must abstain. Page -5- Council Regular Meeting December 16, 1996 N�sl C0 '''') ) C outvtyof Ponce DeLeon Port Authority of voLuS' ."` 700 Catalina Drive, Suite 125 • Daytona Beach, Florida 32114 Nov Telephone: (904) 248 -8072 • Fax (904) 248 -8075 Mr. George McMahon, Manager November 21, 1996 City of Edgewater - 104 N. Riverside Drive i ii Edgewater, Florida 32132 DEC 4 1996 Dear Mr. McMahon, fit YM,GER I wish to take this opportunity to thank you for providing me with time to update you on our re- stabilization project at Ponce DeLeon Inlet. At that briefing I asked for your support in three areas and promised you draft Resolutions for your Commission or Council to consider. Enclosed are three sample Resolutions that I will ask the County Council to approve. If you could put them in your format and present them to your policy making body for consideration I would appreciate it. New Below is a brief synopsis of what each Resolution asks. Resolution # 1. ,, Request that the U.S. Army Corps of Engineers provide funds and 0r ` , complete emergency work on the North Jetty. Resolution # 2. ( 0) Request that the U.S. Congress authorize the Re- stabilization project and appropriate funding for the Federal share, approximately $ 6, 218,961.00. Resolution # 3. IN Request the State of Florida through its' Inlet Management Grant Program fund 50% of the Port Authority share for re- stabilization, approximately $ 1,566,430.00. In closing, as you may know, I have contacted all of the coastal communities and asked that they pass the same type Resolution. With this solidarity and support we feel we can achieve the goals specified by the Resolutions. If you have any questions please call. Thanking you in advance. 'taw Sincerely, d % l ag e,i , Dan O'Brien, Director Ponce DeLeon Port Authority Protect On A.cydsd Paper AGENDA REQUEST DATE: December 4, 1996 "11rr� OTHER CONSENT BUSINESS PUBLIC HEARING, ORD., RESOLUTION 12/16/96 ITEM DESCRIPTION /SUBJECT: Resolution 96 -R -30 requesting the U.S. Army Corps of Engineers provide funds and complete emergency work at the North Jetty, Ponce DeLeon Inlet. BACKGROUND: Dan O'Brien, Director of the Ponce DeLeon Port Authority, has requested the City of Edgewater adopt resolutions in support of the project to restabilize the North Jetty, Ponce DeLeon Inlet. The attached resolution requests the U.S. Army Corps of Engineers provide funds and complete emergency work at the North Jetty. Mayor Hayman and I met with Mr. O'Brien for a brief overview of the proposed project. RECOMMENDATION /CONCLUSION: Consider adoption of Resolution 96 -R -30. FUNDS AVAILABLE: ACCOUNT NUMBER: N/A (SPECIFY IF BUDGET AMENDMENT IS REQUIRED): Previous Agenda Item: YES NO X Date: Agenda Item No. Respectfully submitted, •r► £' , George . McMahon City Manager sue Attachment RESOLUTION NO. 96 -R -30 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EDGEWATER, FLORIDA, REQUESTING THE U.S. ARMY CORPS OF ENGINEERS PROVIDE FUNDS AND COMPLETE EMERGENCY WORK ON THE NORTH JETTY, PONCE DELEON INLET, FLORIDA; REPEALING ALL RESOLUTIONS IN CONFLICT HEREWITH AND ESTAB- LISHING AN EFFECTIVE DATE. WHEREAS, the County Council of Volusia County is the Ponce DeLeon Port Authority pursuant to Ordinance 92 -4, under the authority of the Constitution and the Laws of the State of Florida and the Home Rule Charter (Sp. Acts, Ch. 70 -966); and WHEREAS, the channel of Ponce DeLeon Inlet has migrated against the North Jetty causing the channel to be deeper than the jetty which could affect the integrity of the North Jetty, causing a severe problem with the Federal Project; and WHEREAS, in fiscal year 1996 funds were available in the Corps budget to place a scour apron at the North Jetty, thus correcting the problem; and WHEREAS, the 1996 budget funds were diverted to other Corps projects because of State permitting delays and the problem still exists and is exacerbating. NOW THEREFORE, BE IT RESOLVED by the City Council of the City Nur of Edgewater, Florida: Section 1. The City Council requests the U.S. Army Corps of Engineers provide funds for this project in the fiscal year 1997 budget and complete the scour apron emergency work on the North Jetty as expeditiously as possible. Section 2. All resolutions or parts of resolution in conflict herewith be and the same are hereby repealed. 96 -R -30 1 Section 3. This resolution shall take effect upon adoption. After motion by and second by , the vote on this resolution is as follows: Mayor Jack Hayman, Sr. XXX Councilman Danny Hatfield XXX Councilwoman Louise A. Martin XXX Councilman Mike Hays XXX Councilman David L. Mitchum XXX PASSED AND DULY ADOPTED this day of , 1996. "irre ATTEST: CITY COUNCIL OF THE CITY OF EDGEWATER, FLORIDA By: Susan J. Wadsworth Jack H. Hayman, Sr. City Clerk Mayor APPROVED FOR FORM AND CORRECTNESS: Krista A. Storey City Attorney lrrr Nolo 96 -R -30 2 5,p AGENDA REQUEST DATE: December 4, 1996 OTHER CONSENT BUSINESS PUBLIC HEARING, ORD., RESOLUTION 12/16/96 ITEM DESCRIPTION /SUBJECT: Resolution 96 -R -31 requesting the U.S. Congress authorize the restabilization project at the North Jetty, Ponce DeLeon Inlet, and appropriate funding for the Federal share, approximately $6,218,961. BACKGROUND: Dan O'Brien, Director of the Ponce DeLeon Port Authority, has requested the City of Edgewater adopt resolutions in support of the project to restabilize the North Jetty, Ponce DeLeon Inlet. The attached resolution requests federal authorization and funding for the federal share of the restabilization project. Mayor Hayman and I met with Mr. O'Brien for a brief overview of the proposed project. RECOMMENDATION /CONCLUSION: Consider adoption of Resolution 96 -R -31. FUNDS AVAILABLE: ACCOUNT NUMBER: N/A (SPECIFY IF BUDGET AMENDMENT IS REQUIRED): Previous Agenda Item: YES NO X Date: Agenda Item No. Respectfully submitted, GeorgVE. McMahon City Manager sue Attachment RESOLUTION NO. 96 -R -31 "rr° A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EDGEWATER, FLORIDA, REQUESTING FEDERAL AUTHORIZATION AND FUNDING FOR THE FEDERAL SHARE OF THE RE STABILIZATION PROJECT AT THE NORTH JETTY, PONCE DELEON INLET, FLORIDA; REPEALING ALL RESOLUTIONS IN CONFLICT HEREWITH AND ESTABLISHING AN EFFECTIVE DATE. WHEREAS, the County Council of Volusia County is the Ponce DeLeon Port Authority pursuant to Ordinance 92 -4, under the authority of the Constitution and the Laws of the State of Florida " and the Home Rule Charter (Sp. Acts, Ch. 70 - 966); and WHEREAS, the U.S. Army Corps of Engineers maintains the Ponce DeLeon Inlet federal project and has been authorized by the U.S. Congress to investigate changes in the original stabilization plan; and WHEREAS, the City of Edgewater supports the Ponce DeLeon Port Authority, as local sponsor for the federal project at Ponce DeLeon Inlet, Volusia County, Florida, and the U.S. Army Corps of Engineers in their efforts to restabilize the Inlet; and WHEREAS, the U.S. Army Corps of Engineers and the Ponce DeLeon Port Authority have joined together to fund a 1.5 million dollar feasibility study to determine the changes necessary to restabilize the Inlet; and WHEREAS, the preliminary cost estimate for the project is $9,351,822; and WHEREAS, the cost will be shared at 66.5% by the federal government and 33.4% by the local sponsor; and WHEREAS, the local sponsor has estimated a $3,132,860 share in escrow for the project, and the remaining federal cost is estimated at $6,218,961; and 'ry 96 -R -31 1 WHEREAS, the local sponsor understands that providing public wharfage, fuel, etc., for the increased number of vessels that will use the Inlet is a responsibility of the local sponsor; and WHEREAS, the economy of the marine industry in Volusia County is dependent on this project. NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Edgewater, Florida: Section 1. The City Council hereby requests that the U.S. Congress authorize the project and appropriate the necessary funds to allow the project to commence. Section 2. All resolutions or parts of resolution in conflict No' herewith be and the same are hereby repealed. Section 3. This resolution shall take effect upon adoption. After motion by and second by , the vote on this resolution is as follows: Mayor Jack Hayman, Sr. XXX Councilman Danny Hatfield XXX Councilwoman Louise A. Martin XXX Councilman Mike Hays XXX Councilman David L. Mitchum XXX ``w PASSED AND DULY ADOPTED this day of , 1996. ATTEST: CITY COUNCIL OF THE CITY OF EDGEWATER, FLORIDA By: Susan J. Wadsworth Jack H. Hayman, Sr. City Clerk Mayor APPROVED FOR FORM AND CORRECTNESS: Krista A. Storey City Attorney 'terr 96 -R -31 2 AGENDA REQUEST DATE: December 4, 1996 Now OTHER CONSENT BUSINESS PUBLIC HEARING, ORD., RESOLUTION 12/16/96 ITEM DESCRIPTION /SUBJECT: Resolution 96 -R -32 requesting financial assistance from the State of Florida through its Inlet Management Grant Program to fund 50% of the Port Authority share for the North Jetty, Ponce DeLeon Inlet restabilization, approximately $1,566,430. BACKGROUND: Dan O'Brien, Director of the Ponce DeLeon Port Authority, has requested the City of Edgewater adopt resolutions in support of the project to restabilize the North Jetty, Ponce DeLeon Inlet. The attached resolution requests financial assistance from the State of Florida, Department of Environmental Protection, to restabilize the North Jetty, Ponce DeLeon Inlet project. Mayor Hayman and I met with Mr. O'Brien for a brief overview of the proposed project. RECOMMENDATION /CONCLUSION: Consider adoption of Resolution 96 -R -32. FUNDS AVAILABLE: ACCOUNT NUMBER: N/A (SPECIFY IF BUDGET AMENDMENT IS REQUIRED): Previous Agenda Item: YES NO X Date: Agenda Item No. Respectfully submitted, Nor � 7, W - - Geor E. McMahon City Manager sue Attachment RESOLUTION NO. 96 -R -32 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EDGEWATER, FLORIDA, REQUESTING FINANCIAL ASSISTANCE FROM THE STATE OF FLORIDA, DEPARTMENT OF ENVIRONMENTAL PROTECTION, TO RESTABILIZE PONCE DELEON INLET, VOLUSIA COUNTY, FLORIDA; REPEALING ALL RESOLUTIONS IN CONFLICT HEREWITH AND ESTABLISHING AN EFFECTIVE DATE. WHEREAS, the County Council of Volusia County is the Ponce DeLeon Port Authority pursuant to Ordinance 92 -4, under the authority of the Constitution and the Laws of the State of Florida and the Home Rule Charter (Sp. Acts, Ch. 70 -966); and WHEREAS, the Ponce DeLeon Port Authority has joined with the U.S. Army Corps of Engineers in a plan to restabilize Ponce DeLeon Inlet, Volusia County, Florida; and WHEREAS, the State of Florida required that all entities responsible for inlets complete an Inlet Management Plan to assure the State that the beaches within the influence of the inlet would be protected; and WHEREAS, the Port Authority has completed an Inlet Management Plan and the State of Florida, Department of Environmental Protection, approved the plan; and WHEREAS, the restabilization plan is an integral part of the approved Inlet Management Plan; and WHEREAS, the State of Florida offers 50% state financial assistance for work projects in the Inlet Management Plan; and WHEREAS, the restabiization project cost is estimated at $9,351,822. The federal cost will be $6,218,961 and Port Authority cost is estimated to be $3,132,000. Now 96 -R -32 1 r NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Edgewater, Florida: Section 1. The City Council hereby requests that the State of Florida to fund 50% of the Port Authority cost for this project. Section 2. All resolutions or parts of resolution in conflict herewith be and the same are hereby repealed. Section 3. This resolution shall take effect upon adoption. After motion by and second by , the vote on this resolution is as follows: Mayor Jack Hayman, Sr. XXX Councilman Danny Hatfield XXX Councilwoman Louise A. Martin XXX Councilman Mike Hays XXX Councilman David L. Mitchum XXX PASSED AND DULY ADOPTED this day of , 1996. ATTEST: CITY COUNCIL OF THE CITY OF EDGEWATER, FLORIDA By: liar Susan J. Wadsworth Jack H. Ha City Clerk Mayor Hayman, Sr. APPROVED FOR FORM AND CORRECTNESS: Krista A. Storey City Attorney Ni 96 -R -32 2 f1 . MEMORANDUM DATE: December 19, 1996 err TO: Mayor and Council members FROM: Mike Hays, District 3 Councilman SUBJECT: Economic Development Board Attached is a chart showing the attendance of the members at the Economic Development Board meetings. You will see that this is a board with attendance problems. Two of the members have resigned and three have exceeded what we allow for attendance so only one or two people are active on the board. lofty We may need to look at the whole concept of the Economic Development Board before appointments are made. Nor MDH:lsk Attachment ECONOMIC DEVELOPMENT BOARD REGULAR MEETING ATTENDANCE 1996 DATE: FONG ROBERTS GERWE CHURCHILL JONES BROWNING FA(R JAN P P A A P P P FEB P P P A A P P MAR P P A P P P P APR P P P P P A A MAY - - - - - - - JUN P P A P P A A JUL P P P A A P A AUG P P A A A A P SEP P P P A P P P OCT P P P A P A P NOV P A A A P P A DEC P P A A P A A ABSENCES 0 1 6 8 3 5 5 %. f i 1 fir.►. limy c:ledb\fonns\attend96.mem t- CITY OF EDGEWATER ECONOMIC DEVELOPMENT BOARD r`...- BY-LAWS ARTICLE I: Purpose and Intent The purpose and intent of these By -Laws is to set forth a uniform set of procedures whereby the City of Edgewater Economic Development Board may regulate the manner in which it elects officers, conducts meetings, and otherwise carries out its functions. It is the further intent of these By -Laws to serve as a self - imposed guideline in the handling of all affairs pertaining to the Edgewater Economic Development Board. The purpose of the Economic Development Board is to assist the City Council in its efforts to support existing business and industry and to attract new business and industry into the City of Edgewater, so long as the business and industry will promote a good image of the City, and will provide jobs and advance the economic prosperity and general welfare of the people of `,"" the City of Edgewater. It is the intent of the City Council in establishing the Economic Development Board that the Economic Development Board shall act in an advisory capacity to the City Council. ARTICLE II: Official Name The official name of this organization shall be the Economic Development Board of the City of Edgewater, Florida, hereinafter referred to as "The Board ". ARTICLE III: General Governing Rules The meetings of the Board shall be subject to Chapter 286, Florida Statutes. ARTICLE IV: Membership A. Voting Members The Board shall have seven (7) voting members. Each member shall be appointed for a term of three (3) years and shall be subject to removal as set forth by the City Council. The Nay terms of appointment shall be staggered. Prior to appointment, prospective members shall submit a City application, a letter of intent to serve on the Board, and shall state therein a brief synopsis of their education and 1 experiences in the area of economic development. The Chairman of the Board shall review the applications and make a written recommendation to the Council. To be eligible for appointment, a prospective member shall be a resident of the City of ''- Edgewater, work in the City, or own property in the City of Edgewater. During the term of appointment, should a member of the Board change his residence, place of employment, or property ownership to the extent he would not be eligible for appointment to the Board, the member shall forfeit the office and it shall be deemed vacant. No member of the Board shall receive compensation for his service, provided, however, that members may be reimbursed for out -of- pocket expenses that are approved by the City. B. Ex- officio members The Board shall have three (3) non -voting ex- officio members who shall serve in an advisory capacity to the voting members: 1. Chairman of the Land Development and Regulatory Agency 2. Chairman of the Beautification Advisory Board 3. Chairman of the Parks and Recreation Advisory Board I ts' ARTICLE V: Vacancies When a voting member has been absent for three (3) consecutive regular meetings or has been absent for twenty -five (25) percent or more of all regular meetings held during any calendar year, said member shall forfeit the office and it shall be deemed vacant. The City Council may remove any member of the Board from office for cause provided the member is notified in writing of the charges and after an opportunity for the member to be heard by the Council. Any vacancy occurring during the unexpired term of office of any member shall be filled by the City Council for the remainder of the term. The vacancy shall be filled within thirty (30) days from the time it occurs. ARTICLE VI: Duties The Board shall have the duties and responsibilities set forth below and as may be established from time to time by the City Council. It shall adopt written By -Laws and keep a properly indexed public record of its resolutions, transactions, findings, and recommendations. 2 The Board shall make frequent reports on its business to the City Council. The Board shall also: A. Formulate plans for the use and development of property designated for commercial and industrial development. Said plans shall be presented to the Nos" Council as recommendations and the presentation shall include staff comments. B. Annually recommend a budget to the City Council for monies necessary to carry out the purpose of the Board. All actual expenditures shall be subject to the approval of the City Manager. All Board members requests for expenditure of funds to be charged against activities of the Board or to be charged against the economic development line item of the general fund budget shall be first approved by the Board Chairman or the Vice Chairman if the Chairman can not be contacted in a timely manner. C. Promote the City of Edgewater as a prospective site for business and industrial development, provided that no expenses for advertising or other promotional methods shall be incurred without prior approval of the City Council, unless specifically identified under the economic development line item of the current low general fund budget. D. Cooperate with and assist private interests that wish to develop commercial or industrial property in the City of Edgewater. E. Negotiate and recommend to the City Council options and agreements relating to the lease of City owned industrial and commercial property to prospective lessees. F. Carry out preliminary negotiations for the purpose of attracting business and industry to the City of Edgewater. All final negotiations shall be done in conjunction with the City Council of the City of Edgewater and shall be subject to final approval by said Council. G. Limitations of the Board: The Board shall not have the authority to bind the City of Edgewater to any contract or document, nor shall the Board have the power to incur any bonded indebtedness, nor to issue revenue bonds, nor shall it have the litew power of eminent domain. 3 ARTICLE VII: Officers Chairman - The chairman shall serve as presiding officer at all meetings of the Board and shall conduct said meetings as specified herein. The chairman shall be elected by a majority 4 "law' of the voting membership at the regular meeting of the month of January and the term of office shall be one (1) year. The chairman shall be eligible for re- election. 1. The chairman shall transmit and report plans and recommendations of the Board to the City Council and in general shall act as spokesman for the Board. 2. The chairman shall appoint one member of the Board to any committee found necessary to investigate matters before the Board. Remaining membership shall be appointed by the Board. Vice - Chairman - The vice - chairman shall be elected by the Board from among its regular members in the same manner as the chairman and shall be eligible for re- election. The vice- chairman shall serve as acting chairman in the absence of the chairman and at such times shall have the same powers and duties as the chairman. In the event of the death, resignation, or removal from office of the chairman, the vice - chairman shall perform the various duties until such time as the Board shall elect a new chairman. Secretary - The secretary shall be a City employee. The secretary shall prepare and distribute correspondence, prepare and distribute the minutes, and establish and maintain Board files and tapes, and shall ensure that all records are properly kept. When it is expeditious for a member to prepare correspondence, any correspondence prepared by a member of the Board shall be provided to the secretary for distribution to members of the Board. ARTICLE VIII: Committees (Standing and Ad Hoc) Committees may be established and dissolved by the Board. Duties, responsibilities, procedures, etc., of committees are to be determined by the Board. Membership of the committee(s) shall consist of one (1) or more members from the Board and any interested individual or any technical or professional person(s) that the Board deems appropriate. The committee members shall appoint a chairman who shall be responsible *tow for reporting committee findings to the Board. 4 ARTICLE IX: Meetings Notice shall be given of all meetings of two (2) or more Board members prior to the meeting and members of the public and press shall be invited to attend. 1140." Regular Meetings - The Board shall meet at regular intervals and at such other times as it may deem necessary for the transaction of business. Special Meetings - Special meetings of the Board may be called at any time by the chairman. The chairman shall give, or cause to be given, at least three (3) days notice of the time and place of any special meetings to each member of the Board, the City Clerk, and the press. In the event of an emergency due to extenuating circumstances, the chairman may call an emergency special meeting twenty -four (24) hours in advance, prior to the said meeting. Workshop Meetings - Workshop meetings of the Board may be held as required for the purpose of enabling the Board to gather information and examine proposals relating to the powers and duties with which the Board is charged. Although said meetings are open to the public and the press, the Board is not compelled to hear any comments or questions from other than Board members, and then only when the individual is recognized by the chairman. ` Continued Meetings - The Board may continue a regular or special meeting if the business cannot be conducted on the advertised date. No further public notice shall be necessary for resuming such meetings provided the time, date and place of resumption is stated at the time of continuance. Cancellation of Meetings - Whenever a majority of the members of the Board notify the secretary of their inability to attend a meeting, the chairman may dispense with the regular special, or workshop meeting by giving written or oral notice to all members. In addition, said notice shall be posted in a conspicuous place within or at the scheduled meeting chambers and the press shall be notified of the cancellation. Conduct of Meetings - All Board meetings shall be open to the public and shall be conducted according to a suitably adopted standard or parliamentary procedure. The order of business at regular meetings shall be as follows: Now * Call To Order * Roll Call * Approval of Minutes 5 * Continued Business * New Business * Member Reports 'o.. * Adjournment Quorum - A quorum shall consist of three (3) members It shall take at least a majority of the quorum or a majority of members present if more than the minimum number of members are in attendance to adopt or implement any course of action. The chairman shall vote. Pursuant to Section 286.012, Florida Statutes, no member who is present at any meeting at which an official decision, ruling, or other official act is to be taken or adopted may abstain from voting in regard to any such decision, ruling, or act; and a vote shall be recorded or counted for each such member present, except when, with respect to any such member, there is, or appears to be, a possible conflict of interest under the provisions of Section 112.311, F1.S., 112.313, F.S., or 112.3143, F.S. In such cases, said member shall comply with the disclosure requirements of Section 112.3143, F.S. Committee Meetings (Standing and Ad Hoc) - These regulations shall govern all Akar committee meetings except that these committees are not required to hold regular meetings, but may conduct their business at workshop or special meetings. Public Hearings - Public hearings can be called when the Board deems necessary. Official action on a matter can be decided after the public hearing has been adjourned, provided a quorum is present. Notice of public hearings shall be given at least five (5) days in advance of the hearing and the press shall be notified. ARTICLE X: AEenda An agenda shall be prepared by the secretary of the Board as directed by the chairman listing all matters which shall be taken up before the Board at any of its meetings. The agenda for a regularly scheduled meeting shall be prepared on the Friday prior to the regularly scheduled meeting. No other matter except what is specified on the agenda shall be taken up at such meeting, except by unanimous vote of the Board present. litow ARTICLE XI: Staff The Board and duly authorized committees shall have access to the information and staff of all City departments as coordinated through the City Manager on such a basis as these 6 • departments are able to render assistance to the Board. Permanent staff members may be appointed to serve the Board, as provided by the City Council. ARTICLE XII: Amendments Now These By -Laws may be amended at a regular or special meeting of the Board, provided that a written notice shall have been sent to each member at least thirty (30) days in advance of the vote, which notice shall contain the proposed amendment Adopted by the Board this 5..-�.c\ c day of , 199, at the City g of Edgewater, Florida, to become effective immediately. Philip Fong, Chairman Attest: \ ElizSet1J McBride, Secretary Now • Now revised 1/24/94 c: \edb \bylaws 7 AGENDA REQUEST Date: December 18, 1996 PUBLIC HEARINGS, ORDINANCES, AND RESOLUTIONS CONSENT AGENDA OTHER BUSINESS X ITEM DESCRIPTION /SUBJECT: Request for appointments to the Economic Development Board. BACKGROUND: Due to other commitments, Philip Fong has resigned from the Economic Development Board, effective immediately. For health reasons, William H. Fair has also resigned, effective immediately. Both letters of resignation are attached. Mr. Fong's term was to expire June 20, 1997, Mr. Fair's term expires April 6, 1998. RECOMMENDATION /CONCLUSION: Council decision. FINANCIAL IMPACT: No Impact FUNDS AVAILABLE: ACCOUNT NUMBER: N/A (SPECIFY IF BUDGET AMENDMENT IS REQUIRED): PRESENTED BY: Elizabeth J. cBrid:. Board oorsinator, Economic Development Board Now :ejm Attachments c:\edb\agendare\fongrairses r �C ! I.E1) Co 19 96 V December 5, 1996 The Honorable Mayor and City Council City of Edgewater 201 N. Riverside Drive Edgewater, FL 32132 Dear Honorable Mayor and City Council: There has been a dramatic change in my time schedule. Because of this, it is necessary for me to reduce the number of my commitments. As such, it is with great regret that I resign from the Economic Development Board, effective immediately. , ti•► I want to express my appreciation for the opportunity to serve the City. I consider my opportunity for service as a high privilege. I have thoroughly enjoyed the past five years in playing a small part in affecting the many changes for the better. Thank you! I remain to be a strong believer and supporter of the City's vision and mission of developing economic prosperity and longevity. I wish you tremendous success in your continuing pursuit of the vision and mission. Respectfully submitted, Philip Fong Chairman Edgewater Economic Development Board % " r Via Hand Delivery RECEIVED 1 8 '196 COMMUi' H "\r December 18, 1996 City of Edgewater Attention: Liz McBride Gentlemen: I regret that health problems within my family have forced me to resign my appointment to the Economic Development committee. Thank you for your consideration. Best wishes for a happy, healthy New Year. Sincerely, William H. air, III 'owe I , 40i fiiw q x, 0 14- 96P01:59 RCVD THE CITY OF EDGEWATER POST OFFICE BOX 100 - EDGEWATER, FLORIDA 32132 -0100 APPLICATION FOR APPOINTMENT TO CITY BOARDS, AGENCIES OR COMMITTEES NAME / 0 r 61cori ADDRESS (6"6-- Cad ' °S 4"tie NDt)e /J e S[(.i pAUL -Eyar HOME PHONE L1 ?. Ll 7-9 BUSINESS PHONE y g- 8 ` / 7 yI 7 OCCUPATION L fie 1 (/'eiJ �ov1 l ' CO(/' Dl� {1 � A) Are you a resident of Edgewater v How long Is your principal place of employment in Edgewater? y if yes how long? 2 yc4 v s Briefly state your interest in serving on a City board, agency or f ' committee : C Vvt G , n�e (V004 ri /✓ 48D c V' d rT li it Are you a registered voter? ye_..5 ,Do you hold public office? N 0 Are you employed by the City? At the present time, do you serve on any other Boards, Agencies, or committees? NO If so, list each: Have you ever served on an boards, agencie, Y g or o mlttees. If so, list each: T�P-{ -- ,y�rJ (J t)nj - 0 0`t" PCtCG� P - eWrUct() FCQh9p 1,k.4 L' , QUe 10 Ui,Ukk.) fib u.v- 1, Ai- ev7 -1Gl/" ��V�� C�r7►�o0t ks t • lox it , e Vic, , � e g 1k-D- 1/ y■9 ( . VO 5 Vt-f t /7 8k) 6 P /0 • (BOARD, AGENCY AND COMMITTEE MEMBERS MAY BE REQUIRED TO FILE WITH THE STATE, FINANCIAL DISCLOSURE FORMS EACH YEAR) PLEASE INDICATE BOARDS, AGENCIES OR COMMITTEES YOU WOULD LIKE TO SERVE ON AND RANK THEM ACCORDING TO CHOICE BY NUMBER BEAUTIFICATION & TREE COMM. CONSTRUCTION REGULATION BOARD CITIZENS CODE ENFORCEMENT FIRE PENSION BOARD' GENERAL EMPLOYEES PENSION ECONOMIC DEVELOPMENT LAND DEVELOPMENT & REG. AGENCY LIBRARY BOARD POLICE PENSION BOARD PARKS AND RECREATION BOARD VETERANS PARK ADV. COMMITTEE SENIOR AD HvO TEE SIGNATURE , / � c/ � ' � DATE : ** SEE REVERSE SIDE FOR LISTING OF BOARDS, AGENCIES AND COMMITTEES ** 1 { it • � a L x t w f p tit °' ° i i } , F , f r yl ' f''''' Yr 7 s v l F ,.,.,,k Z 05- 16 -96P12 :40 RCVD. " ... f� �r� • a i •i APPLICATION FOR APPOINTMENT TO CITY *r BOARDS, AGENCIES OR COMMITTEES ` ' f 5'' NAME [�p e ADDRESS iG g /S lil/� 0/41 . K .D/�'0 l L / c/G Wq :S`er • .HOME . PHONE y2 S'" L �( f BUSINESS PHONE SDD- 90/ - ' / el OCCUPATION ( 0,7, r'a c 1,r Sp� 7 rer 1`i 4''P / q y rS �'� "f ";� l'•' Are you = a resident' of Edgewater &5 How long S�� / rS YN • : , `,a' ft�' ' n�'` Is your principal' al place of employment in Ed Edgewater? , p p g //((/) yr , ` � if yes how long? a} '� Vic #'u f ; Briefly'state your' interest in serving on a City board, agency or r ` !�' , comm1ttee : o A e/ �� c c�/G_ d� 4e cc) � c /m e D + }k� 1 fs ��eA , 5�. e !�✓ c � / � / - 0 9 ress�vQ / rOS�zr- "'6ac„S tu Fl '!1.i.''' ! ' a. 1 r .. 2 t,,. /./5.,,,,,,,,'., L✓ 1 i/ �/'/ /ll 1 r r � 7 t,� }�� fir e"''.'"'' Y' t • V t I h M a. � A . ' f 1 , ii. 1 , -1 Y • } M y ,� b I J r 5g..y i$ t -r • �, Yt . std Ar'e . you a registered .voter? /v& • • . „, _. .., , . , , ,,h,,.,..,..:, k,„ !„,... , D o .you hold publ off //4 t '''' � u Are you employed by the Cit ? • d t S . p f y r d v ., l'',;17, - uAt the. p resent time ;d6 d o you -serve on any .other Boards, Agencies, or ` • .i_.._.,.,,._._...:"`;':',•.' , committees? ' , , j > } /UU If so, list each: ,e t; ' v 1 t a i ;. Have : you ever served ' on any boards, agencies, or committees? E � , ? �, i • �� : , If so list each ,,,� 'N ' � t .r.f ro r ( .fu r l ac/ C� e Ce�d�le,kt no ri �. ` i tr z: ,� �: i •••,,,, sr 1 3 F • •i �y. .t f V f it � ryk . . �+ � (t 'S` � Nil t ; 1 . i ` j a i 9i:h 4 C,k' 5 ' 3 ', (B OARD, AGENCY AND COMMITTEE MEMBERS MAY. BE REQUIRED TO FILE WITH r tif, THE ,STATE, FINANCIAL DISCLOSURE FORMS EACH YEAR) " �' . I r1r • rl $ t } SK ♦, 5� ,, ' A SV iC 4 Fr , �.. ; , 1 '5;,. , , : ,L m'' PLEASE' INDICATE' BOARDS, AGENCIES OR COMMITTEES YOU ^ -�'tki � { s +' I, ii,� WOULD LIKE TO SERVE ON AND RANK THEM ACCORDING TO CHOICE BY NUMBER . ,' " 1 ) q r ` e,�t ° x +' ° BEAUTIF ICATION &TREE COMM COMM.•' C ONSTRUCTION REGULATION ti y• { x.r BOARD u' ` 4- '' CITIZENS CODE ENFORCEMENT r a . ` "` SA tp FIRE PENS 7 ION BOARD GENERAL EMPLOYEES PENSION ' ECONOMIC DEVELOPMENT r '' s LAND DEVELOPMENT & REG. AGENCY , }fi r � l' � tkr L IBRARY BOARD POLICE PENSION BOARD . . , • r 1 ,,; ,'g,. PARKS AND RECREATION BOARD 'VETERANS PARK ADV. COMMITTEE , '�.r" �A' �C . Yak' ' • ; s r u . ,,$,,, -: 1 "" SENIOR AD HOC CO 1 ITTEE ' : ; t. 4 4 : ' SIGNATURE / DATE: -.4 70 i� , }, * * " SEE REVERSE SIDE FOR LISTING OF BOARDS, AGENCIES AND COMMITTEES ** 41l k { ,Y I t4 �� , 1 • l CITY OF EDGEWATER . ,,� 104 N. RIVERSIDE DRIVE RECEIVED ` IVED l ily " * P .O. Box 100 - Edgewater, Florida 32132 -010 MAY 1 7 1993 A/1J11// y '� _ - . _ ; AY O (904) 428 - 3245 SunCom 371 -7005 CITY C ±�.:. h S „ t A �TAIIT'� G , � • � � � .{- d�- i APPLICATION FOR APPOINTMENT TO CITY ��a' Y BOARDS, AGENCIES OR COMMITTEES *tow e -- 2. / ' NAME ,{ ADDRESS` 9 0 sge X - 4 a / . �,�Pi,.,- (' HOME PHONE 7 r:; /O 6 E BUSINESS PHONE "4 OCCUPATION C C 'er, - ' .= G7e%' Are you a resident of Edgewater >Z ,S How long i -,zcP /76e Is your principal place of employment in Edgewater? ( • if yes how long? 4 -�. Briefly state your interest in serving on a City board, agency or • committee: ! • . - _ .•� _� ' ' ..A . 1... / j id- Are you a registered voter? ) Do you hold . public office? ��� Are you employed by the City? �-�7 At the present time do you serve on any other Boards, Ag ncies, or committees? --70,e) If so, list each: • ./t- Have you ever served on any boards, agencies, or committees? If so, list each: A r ' (BOARD, AGENCY AND COMMITTEE MEMBERS MAY BE REQUIRED TO TILE WITH THE STATE, FINANCIAL DISCLOSURE FORMS EACH YEAR) PLEASE INDICATE BOARDS, AGENCIES OR COMMITTEES YOU ' n . WOULD LIKE TO SERVE ON AND RANK THEM ACCOORDING TO CHOICE BY $UMBER BEAUTIFICATION & TREE COMM. P BUILDING TRADES REGULATORY & APPEALS BOARD 1 CITIZENS CODE ENFORCEMENT FIRE PENSION BOARD GENERAL EMPLOYEES PENSION 1— INDUSTRIAL DEVELOPMENT // LAND DEVELOPMENT & REG. AGENCY LIBRARY BOARD 7 POLICE PENSION BOARb PARKS AND RECREATION BOARD VETERANS PARK ADV. COMMITTEE SENIOR AD HOC COMMITTEE / SIGNATURE it . . i4,00.11 Ltd / - DATE: g / '.4,e • I_.r Or ** SEE REVERSE SIDE FO' STING OF BOARDS, AGENCIES AND COMMITTEES * h S I c°' /q 3 5-1" 11'i' j pi . / el e "e4s/ t-ci ' • CITY OF EDGEWATER V /„ 46 * 104 N. RIVERSIDE DRIVE 03 28 - 95A 10:17 RC VD P.O. 1)ox 100 - Edgowaier, Florida 32132 -010() (904) 428 -3245 Sur Corn 371 -1005 ti 0♦ A G` �a APPLICATION FOR APPOINTMENT TO CITY BOARDS, AGENCIES OR COMMITTEES Sow 1 1 NAME UcA 4d f. . Le,UJ18 ADDRESS r (0 V7 I S � 1 2,wellGe lr HOME PHONE ° M - 42g - 0193 BUSINESS PHONE clot y23 -• 0A/7g OCCUPATION W ` x' " P 01144-. r Are you a resident of Edgewater Pets flow long .01.4.4x, 196. Is your principal place of employment in Edgewater? YES if yes how long? Ski/pt. I9a Briefly state your interest in serving on a City board, agency or committee: I ) ,�t, T� v,,, Le (� 6 , Xl u.i ( 4 )da G� r� �P� M' j.� rep t1, /tie . / I i- I l , • I �J I ✓� ' 4 ut . r r tU�l{i f! /JO �jl� (NJ 1)./"t- c, e, f "' t,.� I.rS ueg . � 11 4g-t• v b-uv 5e1 .- �j,� , �It9 � i. nom• 1l.L d1 yef.Va - 04 Citto /kb /v i yr„ Sow�� bu s qpc ,;c,vut. 4 U1/ to kJ Are you a registered voter? Yes • Do you hold public office? \/(,o Are you employed by the City? &V At the present time, do you serve on any other Boards, Agencies, or committees? V00 1 If so, list each: _ Have you ever served on any boards, agencies, or committees? • If so, list each: Vn (BOARD, AGENCY AND COMMITTEE MEMBERS MAY BE REQUIRED TO FILE WITH THE STATE, FINANCIAL DISCLOSURE FORMS EACH YEAR) PLEASE INDICATE BOARUR, AGENCIES OR COMMITTEES YOU WOULD LIKE TO SERVE ON AND RANK TIIEM ACCORDING TO CIIOICE BY HUMBER BEAUTIFICATION & TREE COMM. BUILDING TRADES REGULATORY & ' APPEALS BOARD J < CITIZENS CODE ENFORCEMENT FIRE PENSION BOARD GENERAL EMPLOYEES PENSION e e! INDUSTRIAL 0EVEL0PME' T'r ` LAND DEVELOPMENT & REG. AGENCY • LIBRARY BOARD POLICE PENSION BOARb PARKS AND RECREATION BOARD VETERANS PARK ADV. COMMITTEE SENIOR AD HOC ►•. IT E • SIGNATURE L DATE: 3-/e7% ** SEE REVERSE SIDE FOR. LISTING OF BOARDS, AGENCIES AND COMMITTEES** APPLICAT] ON FOR APPOINTMENT TO CITY BOARD OR AGENCY 1 -P.2 -9 \IL 5 ,,, Name "37 cil, 1 1 o K� c-A' UcD S f i,.-e � 1 Address a 7 q / 1 , F'-F'. i‘i y c /) 5 F / Home phone # y - 5 — C ) 4' Q w,t) ' s O ation S (%-) r vv► nn,, ." , PO ( (..- Dit.) _9G ?) Business 4 - 5 — e V ' Are you a resident of the City of Edgewater? / 00 How long have you lived in Edgewater? , Y42 lE your principal place of employment in Edgewater? IQ S If so, how long? y /e, ,�4Ati S Briefly state your interest in serving on a City Board and list previous experience: l � `e ( yvtore /1d6J - 7 1- A a✓.st- y *be_ C., . y Cp e rr¢ �e.S, . 1 { 1 Af'1r, a registered voter? \ f-e. S Do you hold a public office? A.J v t Are you employed by the City? ,(.16 0 At the present time, do you serve on any other Boards or Agencies? rid If so, list each: , PLEASE INDICATE BOARDS OR AGENCIES YOU WOULD LIKE TO SERVE ON All Board Members MUST file financial disclosure each year Building Trades Regulatory 6 Appeals Board i o Library Board Citizen Code Enforcement Board 10 / Merit Board GeN,al Employees Pension Board qj Parks 6 Recreation Board S Industrial Development Board - Police Pension Board Land Development 6 Regulatory. , Agency (PLEASE INDICATE ALL BOARDS INTERESTED IN, AND RANK THEM ACCORDING TO CHOICE BY NUMBER) Signature: 06.6e/ . Date: — — 67' * *See reverse side for listing of Boards and Agencies SI-4 inkrcs ' q 93 ,.....„ 9 i g i SO ,44,./.-4.:4,-/ . 1 9.-9 to 4,, ?.8, AGENDA REQUEST ''`.r► DATE: December 17, 1996 OTHER CONSENT BUSINESS January 6,1997 PUBLIC HEARING, ORD., RESOLUTION ITEM DESCRIPTION /SUBJECT: Canceling or rescheduling regular meeting of Monday, February 17, 1997, due to Presidents Day holiday. BACKGROUND: City policy provides for canceling or rescheduling regular meetings that fall on national holidays. RECOMMENDATION /CONCLUSION: 'fir+ Council's decision. If Council wishes to cancel the February 17, 1997, meeting and items of an urgent nature occur, a special meeting could be called to take care of that business. FUNDS AVAILABLE: ACCOUNT NUMBER: N/A (SPECIFY IF BUDGET AMENDMENT IS REQUIRED): Previous Agenda Item: YES NO X Date: Agenda Item No. Respectfully submitted, George E. McMahon City Manager ``'rrr lsk 4111111111 INTER - OFFICE MEMORANDUM EDGEWATER, FLORIDA TO: City Council FROM: Krista A. Storey, City Attorney C.A. NO.: 97 -01 DATE: January 6, 1997 SUBJECT: Satisfaction of Unsafe Building Lien Payment in the amount of $2,499.50 was received in satisfaction of an unsafe building lien recorded against property located at 1707 S. Ridgewood Avenue. Staff recommends that the City Council acknowledge receipt of the payment and authorize the Mayor to execute the attached Satisfaction of Lien. KAS Attachment • SATISFACTION OF UNSAFE BUILDING LIEN CITY OF EDGEWATER, FLORIDA KNOW ALL MEN BY THESE PRESENTS: Pursuant to the provisions of Section 901(J) of the Land Development Code of the City of Edgewater, Florida, and Section 601.2.2 of the Standard Unsafe Building Abatement Code, 1985 Edition, on August 9, 1996, the City of Edgewater filed a lien against property owned by Betty C. Baker Life Estate and described as: 2 18 34 W 130 ft of N 100 ft of S 500 ft meas on & W of Hwy & exc S 15 ft in Rd Lot 3 Sub of Lot 2 per Probate No 90- 0032 -02 -R per OR 3477, PG 0670 (Commonly known as: 1707 S. Ridgewood Avenue, Edgewater, Florida) in the amount of two thousand four hundred ninety -nine and 50/100 dollars ($2,499.50) for services rendered, filing fees and other costs incurred by the City; said lien being recorded in Official Records Book 4129, Page 3858, of the Public Records of Volusia County, Florida. The City Council does hereby acknowledge full payment and satisfaction thereof, and hereby consents that the same shall be discharged and satisfied of record. ATTEST: CITY COUNCIL OF THE CITY OF EDGEWATER, FLORIDA By: Susan J. Wadsworth Jack H. Hayman, Sr. City Clerk Mayor Date: APPROVED FOR FORM AND CORRECTNESS: Krista A. Storey City Attorney (liens\unsafe -s)